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A Muslim relationship and marriage app, Muzmatch, misplaced a prison fight on Wednesday towards the homeowners of Tinder, one of the most international’s hottest relationship apps, after a British courtroom dominated that the start-up had infringed at the multibillion-dollar corporate’s logos.
Fit Workforce — a relationship web page conglomerate that owns Fit.com, OKCupid and Hinge in addition to Tinder — sued Muzmatch for infringing on its trademarked emblem, the use of “fit” in its identify and “unfairly reaping rewards” from the corporate’s recognition and funding in its model.
The ruling, from the Highbrow Assets Undertaking Court docket in London, may imply that Muzmatch, which says it has six million customers around the globe, will have to alternate its identify and pay damages. Its founder and leader govt, Shahzad Younas, mentioned Muzmatch would report an attraction.
“We’re extra centered than ever on our undertaking of reworking how Muslims meet and marry,” he mentioned.
Fit Workforce mentioned it was once “happy that the courtroom identified what we’ve recognized to be true: that Muzmatch has unfairly benefited from Fit Workforce’s recognition and funding in its model and was once driving Fit Workforce’s coattails for undeserved achieve on this extremely aggressive marketplace.”
In its courtroom paperwork, Fit argued that its dominance within the on-line relationship marketplace intended customers would mistakenly think Muzmatch was once a “sub-brand” in particular focused at Muslim customers as a result of its use of “fit” in its identify.
Muzmatch mentioned “fit” was once merely an English phrase related to matchmaking.
Mr. Younas, a former funding banker, began Muzmatch in 2011, aiming to lend a hand unmarried Muslims in finding spouses on-line in ways in which have been suitable with Islamic values. A cell app was once presented in 2015. The carrier is ceaselessly indexed a few of the main relationship apps for Muslims, and has attracted $9 million in financing.
Match Group, based totally in the US, reported $3 billion in earnings closing yr and greater than 16 million paying consumers.
The dispute is going again to 2016 when Fit objected to the start-up’s trademark registration for “Muzmatch” in Europe and the United States. Legal professionals from Fit additionally objected to the usage of a center and the font in Muzmatch’s emblem on the time, that have been in the end got rid of.
As Muzmatch’s consumer base grew, Fit made approaches to shop for the corporate, in the end providing as much as $35 million in 2019, Mr. Younas mentioned.
Satisfied that the conglomerate may now not lend a hand the app develop, Mr. Younas, Muzmatch’s sole director, grew to become the be offering down. Later that yr, Match acquired Harmonica, a Muslim relationship start-up in Egypt.
Fit didn’t ascertain whether or not it were desirous about purchasing Muzmatch or whether or not Muzmatch’s description of the method was once correct.
Mr. Younas mentioned he was once involved that the courtroom ruling can have a chilling impact on smaller corporations within the tech trade.
“That is simply their tactic,” he mentioned. “They’ll courtroom you, they’ll get your information, they’ll try to purchase you, and when that doesn’t paintings, they’ll both pass after a competitor or they’ll simply kill you,” Mr. Younas mentioned. “One million greenbacks for them in prison charges is small alternate. For us, it’s the whole lot.”


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Apple CEO ‘Extremely Sorry’ for IPhone Maps FrustrationAdam Satariano
Apple Inc. Chief Executive Officer Tim Cook apologized for the iPhone mapping software released last week that has been criticized for flaws such as misrouted directions and inaccurately located landmarks.
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JACKSON, Miss (WJTV) – With National Travel & Tourism Week underway, Visit Jackson made many efforts to bring this celebration to Jackson in a special way.
National Travel & Tourism Week is a week for tourism professionals and facilities across the nation to celebrate what tourism means to their communities and to place a value on what travel does for our economy.
As the city celebrates its bicentennial year, Visit Jackson connected National Travel & Tourism Week with their ‘Spotlight Series.’ The series recognizes community-oriented people to celebrate the attraction that they bring into the community. Thursday’s ‘Spotlight Series’ candidate was Steak & Chicken food truck.
“It’s refreshing to celebrate what we do on the daily basis,” said Yolanda Clay-Moore, director of communications for Visit Jackson. “It’s just a good day to celebrate tourism as a whole.”
Tourists and local citizens of the Jackson-metro area were able to purchase food from the selected food trucks and have an opportunity to engage with each other.
“I think that this is a great thing anytime you can increase tourism, specifically for the city of Jackson and surround areas is a great thing. So, the more we can promote, the better,” said Shannon Dyse, a neighbor.
Other activities that will celebrate National Travel & Tourism Week will be the Mississippi Makers Fest at the Two Mississippi Museums and the Mississippi Raiders football game held on Saturday, May 7.
Visit Jackson will also be collecting clothing and personal items for the Good Samaritan Center. Donations can be dropped off at the JXN Welcome Center until Friday, May 6.


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The Huawei Mate 40 smartphone range is expected to be officially unveiled over the next few weeks. Following the usual launch schedule for Chinese technology, the Mate range will crown the third quarter of 2020.
Now, according to reports from Taiwan, the manufacturer has issued a 30% reduction in the volume of orders to several manufacturers of mobile phone components. Something that indicates a downward revision of sales estimates for Mate 40.
The Huawei Mate range is about to be announced
The reduction in the volume of component orders will be a direct reflection of the estimates made by the brand itself. Demand for future Huawei mobile phones will be in sharp decline, especially outside its home market, China.
It is worth noting that the manufacturer usually presents the new top processors, for smartphones and mobile devices, at the biggest technology fair in September, the IFA. However, in the course of IFA 2020 we did not get to know a new SoC Kirin.
The Huawei Mate 40 range may be delayed, both on the presentation date and on the market. Currently the manufacturer faces a worsening of the limitations imposed on the use of components of North American origin.
Huawei was present at IFA 2020
Even so, the technology had an online presentation, during which it made known several of the brand’s objectives, as well as the current situation, highlighting the commitment to its sector of smartphones and mobile devices.
We recall that in June Huawei estimated to sell up to 8 million units in the Huawei Mate 40 range during the fourth and last quarter of 2020. Since then, even the volume of leaks has slowed.
In fact, during the presentation at IFA 2020, little was said about the future of its Kirin processors, or its next major mobile phone launch. The situation reflects, above all, the worsening of relations between China and the USA.
EBox editors recommend:


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Dade International Inc., a Deerfield-based company that only a year ago was a lackluster member of the Baxter International Inc. family, stepped out on its own Wednesday by buying a medical business from DuPont Co.
The deal is just the latest in a flurry of purchases and sales involving Baxter and its former divisions and suggests that Baxter's rationale for spinning off units--that they'll prosper on their own--is a good one.
In this transaction, Dade said it will pay an undisclosed sum for DuPont's In-Vitro Diagnostics unit. In-Vitro, which does medical diagnostic testing, employs 1,800 people and has annual sales of about $375 million.
Dade has 4,000 employees, of whom 350 are in metropolitan Chicago, and has yearly sales of about $625 million. With the merger, Dade will become one of the area's biggest privately held companies, with sales of $1 billion a year.
"We're a newly independent company and this acquisition is very exciting for us," said Dade spokesman Philip Smith. "The clearly stated strategic intention going into 1995 was to be a significant force in (the field of) clinical diagnostics worldwide, and this is an important addition."
As the Baxter diagnostics division, Dade had suffered almost flat earnings for several years, while struggling to meet the stiff competition from such big diagnostics companies as Abbott Laboratories, in nearby North Chicago.
Baxter sold the division to Bain Capital Inc. of Boston for $448 million last December. Rechristened Dade International, the company sells medical diagnostic products and systems to hospitals, clinical laboratories and doctors offices.
Smith said the company would not decide whether to cut any jobs until it studies any potential overlap within the combined companies. The acquisition is expected to be completed in the first half of 1996.
Dade is the middle child, so to speak, of three divestitures from Baxter in the last three years.
Caremark International Inc., based in Northbook, became the first in 1992, when Baxter bowed to criticism that Caremark was in competition with Baxter's hospital customers and spun Caremark off into a separate, publicly traded company.
As an independent company, Caremark has grown substantially. Its payroll has almost doubled from 6,300 to 12,000, and its revenues have jumped from $925 million in 1992 to $2.3 billion in 1995. The company recently signed an affiliation agreement with the Glen Ellyn Clinic, making it the largest physician-practice manager in the Chicago area.
"Basically, we transformed ourselves from what was perceived as a home-care company into the physician-practice market," said company spokeswoman Sally Benjamin Young.
Most recently, Baxter announced its plans to divide again--this time splitting into two $5 billion publicly traded companies.
Its health-care supply and service business will become a new, as-yet-unnamed company while the Baxter name will remain with the medical technology portion of the business. Of the 53,000 employees, 33,000 will remain with Baxter and 20,000 will be with the new company.
"All these moves have allowed us to focus on our core business," said Baxter spokeswoman Mary Thomas.
"The outlying issue with Caremark was the sensitivity that Caremark was in competition with our customers," Thomas said. "But we feel all these moves have enhanced our value to shareholders."


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Another royal baby has captured the world's attention, and people want to know every detail about The Duchess of Cambridge, Kate Middleton's latest birth. For instance, will Kate Middleton get a push present for her third child? A gift given to a woman soon after she has given birth, a push present is one way a significant other can thank a new mom for their hard work. And when you're royalty, these gifts can exist on a whole other level.
Although there's no word yet about whether Middleton has received a push present in honor of her third child, the Duchess has gotten some incredible gifts for past deliveries. For the birth of Princess Charlotte, Middleton received a pair of Kiki McDonough earrings, according to Today's Parent. Featuring green tourmaline, green amethyst, and diamonds, the earrings would make any new mom feel elated. A favorite of the Duchess, British luxury jewelry designer Kiki McDonough is known for her striking, colorful gemstone creations.
As far as her first push present is concerned, it looks like Middleton received a diamond eternity ring from Annoushka, according to Marie Claire. In fact, the Annoushka website even features a picture of Middleton on the eternity band's page. Oh, and Prince Williams also reportedly designed a special brooch with a pink diamond as an additional gift for Kate's first baby, according to Express. There's no such thing as too many push presents, right?
Although push presents are just starting to catch on in some social circles, these baby baubles have been customary among the royals for years. For instance, Prince Albert gave Queen Victoria a brooch in the shape of her son's crest for the birth of Prince Albert Edward of Wales, according to Hello! Magazine. It looks like fine jewelry is a pretty standard push present for the royals, so Middleton may soon have another jewel for her amazing collection. Whether she gets a timeless piece that once belonged to Princess Diana, or a brand-new design from a contemporary jeweler, chances are Middleton's gift for the third child will also be bright and sparkling.
Middleton is hardly the only new mom to receive gorgeous push presents in recent years. Outside the royal family, plenty of wealthy individuals have been given extravagant gifts in honor of their new babies. And these gifts don't stop at jewelry. For instance, Kylie Jenner's Ferrari pic was captioned as a push present in honor of her daughter Stormi. The car, a black Ferrari LaFerrari, was a gift from Stormi's father Travis Scott, according to Cosmopolitan. It's one heck of a push present, that's for sure.
Cars aren't the only mode of transportation given as push presents either. In a totally badass turn, Pink received a custom motorcycle as her push present, according to the star's Instagram. "Thanks @hartluck for the push present 💕 I give you babies and you build me motorcycles. Some girls like diamonds, I like heavy metal and carbon-fiber and chrome," said Pink in the pic's caption. Hey, some new moms appreciate a fine machine.
If you're a purse person, then this gift will spark you interest. Kristin Cavallari received a grey Birkin Bag push present from Jay Cutler, according to People. Somehow I doubt it was put to work as a diaper bag.
But this isn't to say that jewelry is a passé push present among the Hollywood set at all. Of course, Kim Kardashian received a Lorraine Schwartz choker necklace, as noted in Elle. Those are diamonds all around it. Lots and lots of diamonds.
Compared to some of these extravagant push presents, the royal jewels look downright understated. But whatever Middleton receives to celebrate the birth of her third child will undoubtably be lovely.
Check out Romper's new video series, Bearing The Motherload, where disagreeing parents from different sides of an issue sit down with a mediator and talk about how to support (and not judge) each other’s parenting perspectives. New episodes air Mondays on Facebook.


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Top Hat Raises $22.5 Million to Go After Pearson, McGraw-Hillby
Funding round values Canadian tech firm at $185 million
Rival textbook publishers have struggled to increase revenue
Top Hat, the Canadian education technology startup, completed a new round of funding to give it more firepower to go after textbook publishers like Pearson Plc.
The $22.5 million round is Top Hat’s biggest yet and brings its total funding to about $40 million, the Toronto-based company said in a statement Wednesday. New York-based Union Square Ventures participated, as well as previous investors iNovia Capital and Georgian Partners, among others. The funding values Top Hat at $185 million, according to people familiar with the deal.
Top Hat is one of a handful of startups trying to find ways to disrupt the traditional textbook publishing industry, dominated by companies like Pearson, Cengage Learning Inc. and McGraw-Hill Education Inc., which is owned by Apollo Global Management LLC. All of these firms have added digital educational materials to their range of products, but the transition has been rocky.
In October, Apollo put off McGraw-Hill’s planned initial public offering indefinitely after the publisher’s back-to-school sales were less than the company expected, people familiar with the matter said at the time. When McGraw-Hill initially filed to go public in 2015, competition from new entrants was the top risk noted in its prospectus.
Pearson followed up with its own bad news in January when it cut its profit forecast, reduced the dividend and announced plans to unload its stake in Penguin Random House to raise money.
Even as the big publishers work to increase the proportion of sales that come from digital products, they’re still largely dependent on physical books.
That’s a weakness Top Hat Chief Executive Officer Mike Silagadze said he’s trying to exploit. He started by selling software tools to professors that help them engage their students, such as smartphone apps that let them tell lecturers if they understand new concepts in real-time. The company, which launched in 2009, has 2 million students using its products.
The next step is to go directly after the textbooks and digital course content made by Pearson and McGraw, Silagadze said in an interview. In November, they launched an online content marketplace, where professors can create course materials and sell it around the world. The idea is to cut out the publisher and let professors sell directly to students and each other, Silagadze said.
“It fundamentally breaks the publisher’s traditional model of producing content,” he said. “Our aim is to disrupt the paradigm the publishers have created over the last 100 years.”
The potential for building the go-to marketplace for educational content is what attracted Union Square Ventures, said Albert Wenger, a partner at the firm. Union Square manages more than $1 billion and is known for making early-stage investments in Twitter, Tumblr, Kickstarter and Etsy.
The industry “has been dominated by really traditional publishers that come exclusively from the content side and not the technology side,” Wenger said in an interview. His son’s Intro to German textbook cost $230.
“That era is coming to an end,” he said.
The content marketplace is still a small portion of the company’s overall revenue but is growing rapidly. Total revenue is in the "10s of millions,” and is expected to double in 2017, Silagadze said. Top Hat is currently profitable but that could change as the company spends heavily on growth, he said.
“Many people are going into the ed-tech space almost with these utopian misconceptions about what education technology is really like,” Silagadze said, referring to a perception that it’s a particularly risky business. “It’s actually just a really tough market and you have to go out there and grind it out.”


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That’s one real-time tracker’s latest estimate for third-quarter economic growth, a fraction of the more than 6% forecasted less than three months ago and one of the starkest signs of how quickly things can change in the pandemic.
The Federal Reserve Bank of Atlanta, which uses a mathematical model for its GDPNow economic growth forecasts, said the latest economic indicators suggest real gross domestic product (GDP) will grow at an annualized rate of only 0.5% in the July-to-September quarter. The fast-shrinking estimate—as high as 6.3% in early August—was 1.2% on Friday, but then two more weaker-than-expected government reports, including on new home construction, forced it down to the 0.5%.
We won’t know how much GDP actually grew until the Bureau of Economic Analysis releases its quarterly report on Oct. 28, but estimates have been falling right and left amid signs that a summer spike in inflation and COVID-19 cases discouraged consumer spending and supply and worker shortages persisted.(Still, the Atlanta Fed’s GDPNow stands out for its pessimism.) For perspective, GDP grew at an annualized rate of 6.3% in the first quarter and 6.6% in the second.
With inflation rising 5.4% in the 12 months through September, well above the Fed’s average 2% longer-term target, a weakening economy could put the Fed in a difficult position when determining the path forward for benchmark interest rates.
Have a question, comment, or story to share? You can reach Medora at firstname.lastname@example.org.


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NEW YORK (Reuters) - Three years into the European debt crisis, with the likelihood of the euro’s demise still remote, U.S. multinationals are making preparations for a number of grim scenarios that include the worst: the collapse of the euro.
They have been actively looking to lower their hedging costs by taking advantage of the weak euro, while others have been moving money daily to other financial centers to reduce euro zone exposure, consulting firms and banks that hedge for large U.S. corporations say.
“Almost all companies have a committee in some shape or form to prepare to deal with the euro crisis,” said Martin Donovan, deputy policy and technical director of the London-based Association of Corporate Treasurers, which advises corporate finance departments.
“The larger companies have been thinking about this for a long time. And it’s really gone beyond just a pure housekeeping exercise,” Donovan said.
Fireapps, a provider of FX hedging software in Arizona and an adviser to several Fortune 500 companies, did a poll of 800 corporations last month, most of which are U.S.-based. The survey revealed that 88 percent of the companies have or are developing plans to deal with the euro’s end.
Minnesota-based medical device maker Medtronic Inc (MDT.N) said its cash is actively being transferred out of countries to a central depository to minimize risk.
“We continue to work with every country in Europe to ensure our receivables are being paid. These are normal ongoing procedures to minimize risk, and we believe adequate in the circumstances,” said Medtronic spokeswoman Amy von Walter. The company generates about a quarter of its revenue from Europe.
St. Jude Medical STJ.N, which gets about 25 percent of sales from Europe, said it has cash concentration systems in place in order to minimize the amount of cash held in euros.
U.S. beverage maker PepsiCo PEP.N has also been doing daily euro sweeps, according to the Financial Times. Calls and e-mails seeking comment were not returned.
“Sweeping” cash is a normal strategy carried out by international companies with bank accounts in different countries. A company takes out cash in each euro-zone country where it has a subsidiary and deposits it nightly in a stable financial center. The company then returns the funds to each country the next day.
Medtronic’s and Pepsi’s strategy mirrors that of European companies, which have been sweeping euros on a daily basis in case of an overnight currency devaluation.
Fast-food giant McDonald’s (MCD.N) said it is closely “monitoring” these strategies, though it is not yet sweeping.
Other U.S. companies have opted to revise the currency denomination of their contracts from euros to dollars.
One U.S. electronic components distributor with annual revenues of $25 billion, for instance, has informed its vendors in the euro zone that it will pay for supplies in dollars instead of euros, according to Wolfgang Koester, president and chief executive officer of Fireapps.
Other U.S. businesses are opting to keep their cash in the United States and those with funds overseas are keeping the funds in liquid and very short-term instruments.
Many companies deriving sales from the euro zone have hedged against the decline in the euro, which is down more than 12 percent over the last three years.
Fireapps’ Koester, who advises corporations on hedging, said about 97 percent of U.S. companies have protected against currency volatility, having learned their lesson in 2008. “They are not risking any currency exposure at all,” he said.
Heavy equipment maker Caterpillar Inc (CAT.N) said it has protected itself against euro weakness, which is necessary as its dealers have reported a sharp slowdown in Europe for a three-month period ended in May.
“We have an even balance for worldwide currency exposure that limits and hedges our risks,” said Jim Dugan, Caterpillar’s chief corporate spokesperson.
Whitehouse Station, New Jersey-based drugmaker Merck & Co Inc. (MRK.N), which derives about 30 percent of sales from Europe, has an active hedging program in place to protect against the euro’s weakness, although company spokesman Ron Rogers said it would be difficult to predict how exchange rates would impact its bottom line.
“At 2011 exchange rates, sales are expected to be at or near 2011 levels. Full-year 2012 sales may be unfavorably affected by foreign exchange, depending on the exact exchange rates,” said Rogers.
As more U.S. companies hedged, U.S. banks saw a surge in volume in May as the euro fell below the $1.30-$1.35 range.
Chris Fernandes, senior corporate adviser for Bank of the West in San Ramon, California, said last month’s FX hedging volume at his bank was the highest in five to six years.
“Many of our customers with euro payables had assumed an exchange rate of $1.30 per euro on their budgets at the beginning of the year, so now they’ve locked in FX margins of five to six cents lower (through forward contracts)” than their previous hedges, Fernandes said. That’s a good thing for those clients.
Those with euro income, however, are partly hedged because they are hoping the euro will rebound, which would help profits.
“It’s just human nature to think that the euro is going to come back,” Fernandes said. “These customers are waiting for a rebound in the euro so they can hedge their euro receivables at a higher level.”
A major concern among corporate hedgers, Fernandes said, is what would happen to their euro hedges if the euro zone breaks up.
“Ultimately, both sides are obligated to honor the contract,” Fernandes said. “The customer is still obligated to deliver the U.S. dollars that they owe us for purchasing a forward contract whether it’s for three or six months. And obviously we’re obligated to deliver the euro.”
Additional reporting by Lisa Baertlein; Editing by Dan Grebler


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Donald Trump meant what he said during the campaign about trying to keeping American jobs in America.
As the opening salvo in his “Make America Great Again” playbook, the tweeter-in-chief has been shaming American companies that offshore high-paying American jobs to factories in other countries, with some apparent minor successes that will do more to burnish Trump’s reputation as a dealmaker than they will to help working Americans struggling to make ends meet.
On Tuesday, Ford Motor Co. F, -1.16% announced a reversal of its plan to invest $1.6 billion in a factory in Mexico to build small cars, and said it would invest a lesser amount in a factory in Michigan to build electric vehicles. That news came just hours after Trump slammed General Motors Co. GM, -0.49% for importing compact cars into the U.S. from its Mexican production facility.
On the surface, it looks as if Trump’s bullying tactics are working, even before he takes the oath of office and makes good on his threat to impose hefty tariffs or taxes on any imported products manufactured in those offshored factories.
First, United Technologies Corp.’s UTX, +0.19% Carrier heating and cooling unit backed off from a plan to offshore a few hundred jobs from an Indiana plant to Mexico, and now Ford is doing the same thing. But we never hear about the thousands of jobs that are lost quietly. Or the thousands of new hires that don’t make the evening news.
Trump has been focusing his ire almost exclusively on American companies that are moving production to Mexico as he prepares to make good on his promise to tear up and renegotiate the North American Free Trade Agreement (NAFTA) with Canada and Mexico.
But, as with a few other corporate announcements that Trump has touted as endorsements of his plans to rewrite the rules of global trade, there was less than met the eye in the Ford announcement. Yes, Ford CEO Mark Fields flattered Trump in his statement, but it’s clear that Ford made the decision to cancel the new Mexican factory for one reason only: It no longer made economic sense.
The Ford announcement reveals the hidden danger of Trump’s bullying tactics: Corporations may be eager to give Trump some credit for decisions they’d make anyway, which will bolster Trump’s confidence that there’s nothing wrong with American manufacturing that can’t be solved by getting tough. Tear up the treaties, impose some tariffs, bully some CEOs, and — voila! — America is back!
The reality is more complex, of course. American companies (and European, and Japanese and Chinese companies as well) aren’t putting some of their production in Mexico just to take advantage of a poorly negotiated NAFTA. They are investing in Mexico because it’s a great place to do business. And Trump can’t change that reality with a tweet or a tariff.
German, Japanese and Korean auto makers are expanding their production in Mexico not to take advantage of any claimed unfair rules under NAFTA, but because Mexico is a good place to build cars. For starters, labor costs are much cheaper in Mexico ($8.24 an hour vs. $46.35 in the U.S. and Canada). The manufacturing supply chains are robust. The Mexican peso USDMXN, -0.1946% is weak, giving its manufacturers another advantage.
But perhaps the biggest advantage Mexico has is something Donald Trump doesn’t want to talk about: Mexico has free-trade agreements with more countries than anyone else. Those treaties mean that, if you want to export cars to North America, to South America, or even to Europe, it makes sense to build them in Mexico.
Trump thinks he can bully Ford and GM into abandoning Mexico, and maybe he can, sometimes.
But the economics of manufacturing in Mexico (and in many other low-cost regions around the world) are too compelling for any multinational corporation to ignore. Trump can probably make it prohibitively expensive to import anything into the United States, but that wouldn’t reverse Mexico’s advantages in producing for a global market, especially if our trading partners retaliate with tariffs or otherwise restrict U.S. exports.
Trump thinks he can reverse centuries of globalization with a tweet or two. He thinks he can restore America’s glory by building tariff walls against the world. But Trump cannot repeal the laws of economics that give multinational corporations every incentive to cut their costs any way they can.
You never heard Trump say it on the campaign trail, but Ford, General Motors, Fiat Chrysler FCAU, +0.55% Toyota TM, +0.09% and the rest still build cars in America because it’s the smart thing to do. We have competitive advantages too.
American workers need a president who knows America’s strengths as well as its weaknesses.


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A 13-year-old died in Ohio after he “took a bunch of Benadryl,” attempting a dangerous TikTok challenge circulating online, according to a CNN affiliate and a GoFundMe account from his family.
Jacob Stevens was participating in a TikTok challenge with some friends at home when he took an antihistamine, according to a family donation account. Jacob was on a ventilator for about a week before his death, according to WSYX.
CNN has not independently confirmed the cause of his death.
An overdose of Benadryl can lead to “serious heart problems, seizures, coma, or even death,” the US Food and Drug Administration said in a 2020 warning to the public about the deadly “Benadryl challenge” on TikTok.
CNN acquires the 14-year-old’s TikTok account. 17 minutes later, here’s what we saw
Jacob’s grandmother does anything she can to “make sure another kid doesn’t go through” with the challenge, she told CNN affiliate WSYX.
In a statement to CNN, TikTok said: “Our deepest sympathy is with the family. At TikTok, we strongly ban and remove content that promotes dangerous behavior while making the safety of our community a priority. We have never seen this kind of content trend on our platform and have blocked searches for years to help discourage Imitation Behavior Our team of 40,000 safety professionals works to remove violations of our Community Guidelines and we encourage our community to report any content or accounts they care about.”
Johnson & Johnson, the manufacturer of Benadryl, called the challenge “serious.”
“We understand that consumers may have heard of an online ‘challenge’ involving the misuse or abuse of diphenhydramine,” the undated online statement read.
“Challenge, which involves taking excessive amounts of diphenhydramine, is a dangerous trend and should be discontinued immediately. BENADRYL® and other diphenhydramine products should only be used as directed on the label.”
“We are working with TikTok and other social media platforms to remove content that displays this behavior,” the statement added. “We will look to partnering across the industry and with key stakeholders to address this dangerous behaviour.”
CNN has reached out to the Stevens family and Columbus Public Health for comment.
The FDA’s 2020 warning said the agency “contacted TikTok and strongly urged them to remove the videos from their platform and to be vigilant in removing additional videos that may be posted.”
Benadryl is an antihistamine used to treat symptoms such as runny nose or sneezing from upper respiratory allergies, hay fever, or the common cold. The Food and Drug Administration has said it is safe and effective when used as recommended.
Diphenhydramine is marketed under the brand name Benadryl, store brands, and Pharmaceuticals. It is also available in combination with pain relievers, fever reducers and decongestants, the agency said.
The FDA said consumers and parents should store Benadryl and other over-the-counter and prescription medications out of children’s reach.


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Xiaomi has countered reports of major security leaks in its flagship OS MIUI after internet security service provider eScan reportedly found critical flaws in system apps.
What are the flaws?
The first flaw pertains to Mi-Mover, an in-built app used to transfer files, apps and settings from an Android device to a Xiaomi phone. Though the process is flawless when the file transfer is initiated between a Xiaomi device and an Android device manufactured by a different company, the issue arises when transferring files between two Xiaomi devices.
The app inadvertently transfers sensitive and confidential details such as passwords and payment info. This means that any Xiaomi user can easily get another Xiaomi user’s confidential details by just initiating a transfer.
The second flaw pointed out by the eScan report is that Xiaomi devices don’t ask for a password or even display a prompt when a user uninstalls an app from the phone. No other Android devices allows this.
So, if anybody can access your Xiaomi device, that person could easily uninstall the phone’s Device Manager. This effectively stops a person from tracking a lost device or remotely wiping the device using the Find Me service online.
Xiaomi’s counter argument
In a statement to Gadgets 360, Xiaomi was quick to clarify that such a situation will take place only if a perpetrator gains physical access to an unlocked smartphone. They further argue that such a situation already places a user’s data at high risk.
The company also pointed out at the presence of login layers which have been introduced in the app Mi Mover together with strongly recommending users to utilise the lockscreen security features such as PINs, pattern locks and the fingerprint sensor provided by the phone.


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Aug 20, · China and Russia are collaborating to reduce their dependence on the U.S. dollar. Trade settlements in USD between the two countries have fallen below 50% for the first time. At the end of a seemingly sensational year in China, bitcoin value began tumbling in the Chinese markets when China first banned financial institutions from trading in bitcoin in December, then. Nov 19, · First Mover: What China Crackdown Means for $18K Bitcoin as Dimon Passes on ‘Tea’ Bitcoin was flat to slightly lower after briefly climbing Wednesday above $18, for .
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What Is a Crypto Airdrop? A cryptocurrency airdrop is a marketing stunt that involves sending free coins or tokens to wallet addresses to promote awareness of a new currency. In return, he receives spare auto parts, construction equipment, and juices for a family business his father started more than 30 years ago.
He says bitcoin is faster than exchanging currencies the old-fashioned way. Ezike even helps other Nigerian companies make similar cross-border transactions with bitcoin. In several ways, bitcoin makes sense for global trade. The currency jumps borders with ease, where other currencies encounter friction. If more people use bitcoin at once, the network becomes congested and payments slow down.
Behind the scenes, developers around the world are working on the Lightning Network to fix these problems so that more people, maybe one day even millions, can all use bitcoin regularly without seeing a spike in fees and sluggish transactions.
All that said, some Nigerians are becoming reliant on using bitcoin as a way to trade internationally, and are finding bitcoin has significant benefits over legacy financial systems. Nigerian bitcoin entrepreneur Chimezie Chuta has another theory for why some are using bitcoin for trade with China and beyond. Like most other countries in an increasingly globalized world, Nigeria imports a significant percentage of the goods that it uses. Food industry, drugs, you name it, construction equipment, cars.
Nigerians have to struggle with this process, though. In Nigeria, finding U. This phenomenon has been covered in Bloomberg , for instance.


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Israel’s Economy Minister, Orna Barbivai, made a video of her throwing out her Ben & Jerry’s ice cream following their decision to stop selling ice cream in areas that they claim are “occupied.”
The ice cream mega giant, Ben and Jerry’s, is waging a financial war against Israel by labeling portions of Israel as Occupied Palestinian Territory (OPT) and, as a result, are declaring that they will no longer sell their product in the parts of Israel that it considers to be ‘occupied.’
By making this extreme move, Ben and Jerry’s is revealing their true stance against the sovereign nation of Israel and the right of Israel to defend herself. By this virtue-signaling move, Ben and Jerry’s is broadcasting that they do not stand with the nation of Israel.
As a result, several states in the US have reconsidered their business relationship with Ben and Jerry’s. Several grocery stores have discontinued carrying their ice cream and many Christians are reconsidering their options when it comes to purchasing ice cream.
Occupied Palestinian Territory is the term used for Israeli land that had once been owned and occupied by the nations of Egypt and Jordan and was under their control, not Palestine’s, until 1967.
In 1967, Israel, an extremely small and relatively new nation, was completely surrounded by the militaries of Jordan, Egypt, and Syria. These nations were moving their armies into the Gaza Strip and the West Bank; two areas that were military strategic locations for any invasion into Israel.
This led to the Six-Day war, where Israel soundly defeated all three numerically superior militaries in a flawless pre-emptive strike.
The cost of war for Jordan, Egypt, and Syria was that they would lose control of the West Bank and Gaza strip, and East Jerusalem, and they would be kept from ever launching a military strike from those strategic locations.
Ben and Jerry’s is a private company. They can choose where they sell their ice cream and who they sell their ice cream to. As Christians we are also private customers. We have the freedom to keep from spending our money on companies that attack Israel.


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WOWBurger fans now have the opportunity to win a whopping €500 in cash.
Two lucky customers who order from the restaurant’s Tallaght outlet will have the opportunity to win Deliveroo’s cash golden ticket giveaway.
The giveaway, which began yesterday, will last two weeks and the winners will get €500 each to spend on whatever they like.
Dublin customers will have to order from WOWBurger Tallaght on Deliveroo and after receiving the golden tickets, winners will be instructed to contact Deliveroo who will deliver the cash straight into the customer’s bank account.
Michael Healy General Manager of Deliveroo Ireland said: “WOWburger is one of Dublin’s most beloved restaurants, offering the best of the best in great-tasting burgers, not to mention their amazing sides.
“We want to welcome this amazing restaurant to the platform, a brilliant addition to our new zone in Tallaght, by offering the chance of a special treat to those who indulge in their delicious menu on Deliveroo.”


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Most Popular in:
Research done at the University of Virginia Health System has found acupuncture can aid women with polycystic ovary syndrome (PCOS) in getting pregnant.
Recent research has shown music to help improve the mental and physical conditions of patients with 'life-limiting' diseases.
A new fragrance from company Harvey Prince designed to make women smell younger is being sold in the United States and will soon expand its availability worldwide.
The market research group Freedonia has recently released a report discussing the continued growth of the cosmetic surgery products market, including key factors in its development.
New research from a study done at the VA Medical Center in Providence, RI, suggests the use of ACE inhibitors and a similar medication may help prevent the development of some skin cancers.
A study recently conducted at the Virginia Commonwealth University showed college-age students displaying behaviors of tanorexia, or tanning depedence, which can increase chances for skin cancer.
New Age therapies are being used to help war veterans resume normal lives.
Results from a recent study done in the San Francisco area indicate teens' willingness to pay for treatments and services that will help rid them of, or at least decrease, their acne.
With the arguments heating up around sunscreen regulation, the Personal Care Products Council recently defended the FDA on its sun care regulation issues.
A new study done in Germany has shown acupuncture to help decrease the number of headaches of those who suffer from them chronically, indicating the therapy's usefulness in pain treatments.


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9to5Mac is on the ground in Cupertino, California for Apple’s special March 25th ‘It’s show time’ event, and our news hub is collecting all of our coverage in one place.
We’re expecting a new subscription video service, the first look at Apple’s new original TV series catalog with some major Hollywood stars involved, the fate of Apple’s Texture acquisition and the new Apple News Magazines service — and maybe a few surprises — so stay tuned to 9to5Mac for all the news from Steve Jobs Theater at Apple Park live from the keynote on Monday 10 am PT/1 pm ET.
As new stories, details, and up-close looks become available, we’ll keep you updated here (new stories added to top) so refresh for updates! After the event, we’ll organize our news hub chronologically by category.
Wondering what to expect today? The iPhone 11? A new Mac Pro? Not quite this week, but Apple did just release a brand new iPad mini and iPad Air, faster iMacs, and second-generation AirPods with an optional wireless charging case.
Clearly Apple wants to clear the deck on hardware that’s ready to ship and bring the full focus on its new services coming today.
Here’s some pre-event reading for catching up with everything we expect to see today:
Prior to the event kicking off, Apple playfully turned on its live stream for the Steve Jobs Theater venue ahead of time on Sunday, including a few clues about what to expect from the real show.
Unlike last March, Apple’s special event will be live streaming for viewers at home as the keynote plays out on stage. Check Apple.com or search for the Apple Events app on Apple TV for the second-best seat in the house.
Check back for updates through Apple’s March 25th event! The event starts at 10 am PT/1 pm ET.


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Levi's bids to engage music fans with store gigs
Levi's is to host a series of live music events at its UK flagship store on London's Regent Street, with the chance to win tickets to see Primal Scream.
Levi's: building on 'Go Forth' activity
"The Craft of Music" campaign, which kicked off yesterday in partnership with Spotify and Clash Music, invites fans to vote for their favourite artists to support Primal Scream at The Electric in Brixton on 10 November.
It is hosting three in-store gigs on 25, 26 and 27 October.
Consumer can vote online via the Levi's Music website, or at the store gigs for which artists they would like to see and any song they would like played. All voters will be entered into a competition to win tickets to the Primal Scream gig.
The campaign, handled by OMD UK, will be promoted across Spotify and Clash Music channels, with all videos and interviews from the events available for users on their music platforms.
It is part of Levi’s' "Go Forth" global ad campaign, which aims to target the youth market.
The tie-up follows a live music event Spotify hosted with Nissan earlier this year, where it streamed a live music gig.
Separately, Spotify has launched in Denmark today, with is the ninth country that Spotify is available in.
In its latest Companies House filings, it emerged that Spotify Limited, part of the Spotify group, boosted European revenues more than five-fold to £63.2m last year but steep licensing costs led to heavy losses exceeding £26.5m.
This article was first published on marketingmagazine.co.uk
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Waste management company Veolia is calling the UK government to raise the Plastic Packaging Tax (PPT) to ‘incentivise the end markets for recycled content, give investors confidence to build domestic infrastructure and stimulate green economic growth’, it said in a statement.
The PPT was introduced on April 1, 2022, with the aim of providing an economic incentive to use recycled plastic in packaging, thereby stimulating an uptake in recycling and collection of plastic waste. Since Jan. 1, 2024, the tax requires producers of plastic packaging manufactured in, or imported into, the UK to pay GBP 217.85 per tonne of plastic packaging if it contains less than 30% recycled plastic.
According to a study by climate action NGO Wrap commissioned by Veolia, however, the tax is not achieving its aims as only 22% of material used in plastic packaging is from recycled sources.
Veolia is thus recommending the government to increase the PPT to 35% recycled content and GBP 275 per tonne this year, escalating to 50% and GBP 500 per tonne by 2030.
To achieve this the UK would need to invest GBP 1.1 billion in building ten new plastic sorting and 30 new plastic reprocessing facilities, creating 2,500 new jobs, and reducing annual carbon emissions by 1.8 million tonnes of CO₂ equivalent, research by Veolia has found.
Veolia argues the tax raise would stimulate demand for recycled content and ensure the UK remains competitive with the European Union, which has recycled content mandates through legislation like the PPWR.
“The recycled plastic industry cannot be ignored if we are serious about building a green economy,” said Gavin Graveson, Veolia senior executive vice president, Northern Europe zone. “The Plastic Packaging Tax is a crucial lever to stimulate growth in the sector, but it needs recalibrating so we create a market where it is cheaper to be sustainable and more expensive to pollute by using virgin polymers. We need to bring thousands of tonnes worth of recycling capacity online - and fast,” he added.
A plastic tax hike is viewed favourably by the public, according to a survey of 2,000 UK adults by YouGov in February 2024. It found that 69% would support an increase in tax for companies who do not use recycled materials in their packaging, and that 82% would like to see an increase in recycled content used in standard packaging.
In the financial year 2022 to 2023, the United Kingdom’s HM Revenue and Customs (HMRC) collected GBP 276 million (€323 million) in plastic in PPT receipts, GBP 41 million more than the Treasury predicted.


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Okay, so my title above is a little over dramatic, but the essence of the title remains. Previously, lacking high quality interval data on retail consumption, ERCOT has been allocating charges to retail energy suppliers based on load profiles – not exactly guesses, more like informed guesses. As distribution utilities in the competitive parts of the Texas retail power market begin to install smart meters, it becomes possible to measure actual customer use and therefor a retail supplier can be charged for how much its customers actually used in each 15-minute interval.
Here is the ERCOT announcement of its initial efforts to settle wholesale accounts with retail suppliers based on the suppliers’ customers’ actual consumption – note especially the last paragraph:
ERCOT Launches Financial Settlement Process for Smart Meters
The Electric Reliability Council of Texas (ERCOT) began a major step toward implementation of the “smart grid” this month by launching a new system of wholesale settlement for advanced metered customers based on their 15-minute electricity usage.
“Wholesale settlement using 15-minute interval data for retail customers is a major step in connecting the retail electric market with the wholesale market,” said Betty Day, ERCOT director of markets. “This is an important piece of the smart grid of the future. By creating a platform for the interaction of electricity supply and demand at the retail level, this helps to realize the full potential of advanced metering.”
ERCOT performed the first wholesale settlements using actual advanced metering data on Monday, Dec. 7. As of Wednesday’s settlements processes, more than 26,000 accounts had been successfully settled using advanced meter data. The total is expected to surpass 50,000 by next week.
ERCOT, grid operator for most of the state of Texas and administrator of the wholesale and retail power markets, was charged by the Public Utility Commission of Texas with developing a system of wholesale settlement for customers who are receiving new meters under the PUC-approved advanced metering infrastructure deployment.
Advanced metering deployments are underway in the service territories of Texas’s three largest investor-owned transmission and distribution utilities: Oncor, CenterPoint and American Electric Power. A fourth utility Texas-New Mexico Power is developing its deployment strategy now. By 2014, nearly 7 million retail customers in Texas will have advanced meters installed that will record their energy usage every 15 minutes around the clock.
“Making 15-minute data available to customers is a powerful tool for understanding how we use electricity,” said Day. “But actually settling the customer on that usage at the wholesale level is the catalyst for retailers to provide incentives and tools for those customers to use their energy more efficiently and lower their electric bills.”
Wholesale energy settlement is the process of matching financial debits for retailers’ purchases of wholesale power to credits for the generators who sell that power through the ERCOT energy market. Since the ERCOT market opened in 2002, all residential and small commercial customers have been settled on statistical estimates of their usage – called load profiles.
Over time as the meters are deployed, 15-minute settlement will replace the use of load profiles in the ERCOT retail market — effectively taking the estimation out of the equation. This will allow both customers and retailers to benefit financially from lowering energy usage during high-price periods. Retail products that take advantage of this new technology may include time-of-use, critical peak, or real-time price options, and load-control devices that allow customers to reduce energy consumption remotely or automatically based on price signals.
I see the ERCOT changes as allowing for the approach to demand response advocated by James Bushnell, Benjamin F. Hobbs and Frank A. Wolak in their recent Electricity Journal article, “When It Comes to Demand Response, Is FERC Its Own Worst Enemy?” If FERC is its own worst energy on demand response, it may turn out to be that ERCOT is FERC’s best friend on the topic.
(HT to Eric Schubert. Thanks!)


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PARIS — Expofil, the French yarn fair, is weaving a link with Europe’s foremost fabric fair, Première Vision.
Philippe Pasquier, head of the show, said Expofil would match its dates with PV starting next February. Traditionally, Expofil has convened in June and December while PV gathers September and February.
The edition scheduled for June 17-19 will proceed as planned at the Villepinte exhibit halls, just north of Paris. The staging of Expofil that had been scheduled for December 9-11 has been scrapped. The first concurrent edition of the two shows will be Feb. 25-28, 2004. (These changes are not reflected in the International Trade Show calendar, Section II, which was printed before this news was disclosed.)
Pasquier characterized the change as driven by recent changes in the fabric and yarn markets.
“Many companies are cutting costs and want to save by having all their buying teams together at one major venue,” he said. “The move strives to create synergies and help companies better organize their buying trips.”
Expofil has had a link with PV already for two seasons through its smaller preview show, Fil Event. The next edition of that show is scheduled for Sept. 18-20, inside PV. In the meantime, Pasquier said PV and Expofil were in merger negotiations. “There is strength in numbers,” he added. “We want to create the best possible fair. By teaming up with PV we hope to bring in more international visitors. PV is the must fair and the only such fair that attracts as many people from all over the world.”
@zacposen's go-to holiday gift? Cookies! "I'll usually bake cookies and send them as a gift," said the designer, who recently released his cookbook "Cooking With Zac: Recipes from Rustic to Refined." Get the recipe for his Brown Butter-Chocolate Chip Cookies via link in bio 🍪🍪🍪 #wwdeye #cookingwithzac
For @monsemaison’s pre-fall 2018 collection, Fernando Garcia and Laura Kim honed in on the brand’s many signatures — men’s wear, which was tweaked and feminized through deconstruction, proportion play and lots of bare shoulders. See the rest of the photos on WWD.com #wwdfashion (📷: George Chinese)
On Friday night, @yohjiyamamotoofficial received the Design for Asia Lifetime Achievement Award in Hong Kong. The 75-year-old designer has been celebrated for many years and is best known for his dark and avant-garde tailoring. “In my long career, in design, architecture, [I’ve been to] so many parties, this is the very first time that I have such a warm feeling, I really appreciate this,” Yamamoto said. #wwdfashion (📷: @dominiquemaitre)
Discovery is collaborating with British pop artist @philipcolbert on a new line of clothing and accessories called Discovery Shark. The collection, which will launch next summer for Shark Week’s 30th anniversary, features a whimsical line of women’s and men’s bomber jackets, sweatshirts, bags and more. #wwdfashion
“I’m always a big champion of a female rapper, and I’m glad to see a new voice that feels unique and authentic that’s coming up, and I think we’re going to see more great things from her,” said @itsjeremyscott about @iamcardib, who performed at @moschino’s Art Basel Miami Beach party last night. #wwdeye (📷: @lexieblacklock)
@janellemonae’s “What’s Your Frequency?” room in @refinery29's #29Rooms made its debut this week at the opening of the Los Angeles art exhibit. “It’s about the ongoing conversation around mass surveillance, the weaponization of technology and cultural uniformity. My space was created so that we can come together and talk about the complexities of our humanity,” said Monáe. #wwdeye (📷: @bucknerphoto)
@pantone announced their Color of the Year 2018: Ultra Violet. Nearly 20 months after the musician Prince’s death, fashion is having a purple moment. Varying shades of purple appeared on spring or fall runways, from @christopherkane to @calvinklein. @gucci’s Alessandro Michele bathed his fall runway in ultra violet-colored light at one point. Pantone 18-3838 is meant to “push the boundaries of what inspires us to look upward and outward to the future.” #wwdnews #wwdfashion (📷: @kukukuba)


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DALLAS — Veronica Beard is on a roll.
The seven-year-old sportswear maker unveils a 1,200-square-foot boutique today in Highland Park Village, the tony shopping center that sits squarely amid the mansions of Dallas’ wealthiest neighborhood. It’s the third store the company has opened since last August and more are to come.
“Retail …please visit article’s author page to read more.
LaScalia thanks to: WWD Fashion Headlines


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Ad agencies cutback on freelancers
Reflecting on 2009, “the toughest period for [advertising] agencies in living memory,” industry group the IPA said that the stock of bodies in the ad business depleted by 2,000.
When stated on its own, 2,000 fewer advertising brains to compete with may not sound like such a bad thing, for both full-time and temporary or freelance professionals alike.
But the ad workforce has only thinned because smaller budgets, which have depressed take-home fees, have effectively downsized both the ad projects and the ad team required for those projects.
Seeming to confirm that the downturn is to blame, the IPA said the 7.4 % drop in the number of ad employees represented the first dent to the workforce since the 1990s, at the time of the last major recession.
At that time, freelancers reported slim pickings on the jobs market as companies all but called a halt to recruitment, although some freelancers successfully plugged gaps created by redundancies.
While there is some anecdotal evidence to suggest that this latest recession, due to end later today with the release of new GDP figures, is no different, the IPA findings suggest otherwise.
According to the group’s consensus, 886 temporary and freelance professionals worked in the ad agency sector in 2009, compared with 1,210 in the previous year.
In other words, the number of non-permanent and freelance consultants who were on the books of UK advertising fell last year by more than a quarter (27 per cent.)
The reduction is bigger than that of any single age group, the findings show, given that the largest decline in employee numbers was 27% for those aged 25 and under
When asked how they cushioned themselves from the impact of the downturn, 16% of agencies said they initiated short-term working, while 19% resorted to staff sabbaticals or unpaid leave.
For the IPA, these measures clearly represent the lesser evil. It said: “As you would expect, the agency response to the economic recession has been innovative with many different solutions being used to continue to deliver for clients with reduced resources while retaining as much talent as possible.”
26th January 2010


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Smartphone maker Samsung has just launched its latest tablet, the Galaxy Tab S6 Lite in the Indian market. This launch comes days after the electronics giant first shared posts teasing the launch. The company has already revealed that the tablet is set to go on pre-order on June 8 at 2 PM. Interested buyers can head to Samsung India, Amazon India, and leading retail stores to pre-book the device before the launch. In addition, the company also shared some interesting pre-booking and launch offers for the Tab S6 Lite. Let’s check out the price, specifications, variants, color options, and more regarding the Samsung Galaxy Tab S6 Lite here. Also Read - Samsung Galaxy Tab S6 Lite goes for pre-order at 2PM on Amazon India: All you need to know
Samsung Galaxy Tab S6 Lite launched; details
As per the information shared at launch, the company has announced two variants of the Tab S6 Lite. The pre-order window starts of June 8 at 2 PM and will conclude on June 16. Buyers can buy the tablet in three different color options including Oxford Gray, Angora Blue, and Chiffon Pink. As previously mentioned, the company also shared details regarding an interesting pre-order offer. Inspecting the offer, buyers who pre-order the tablet can get Galaxy Buds+ for just Rs 2,999. Else, they can get a Galaxy Tab S6 Lite Book Cover for Rs 2,500. Samsung has priced the Wi-Fi variant of the tablet for Rs 27,999 and LTE variant for Rs 31,999. Also Read - Samsung Galaxy Tab S6 Lite officially confirmed to launch in India on June 8
Watch: Top smartphones under Rs 20,000 in India right now
Talking about availability, the tablet will go on sale in retail stores, Samsung Opera House, Samsung.com, Amazon India, and other retail stores from June 17. It is worth noting that the Wi-Fi variant will only be available on Amazon India and Samsung.com. The tablet will come with S Pen to take notes, create content, and more. Also Read - Samsung Galaxy Tab S6 Lite coming to India soon: Check specifications and more
Galaxy Tab S6 Lite will feature a 10.4-inch TFT panel with S Pen support. Beyond this, the tablet will also run on an Octa-core CPU with 4GB RAM and 64GB internal storage. Users can also expand the available storage with the help of a microSD card. The company has also added an 8-megapixel camera on the back and a 5-megapixel camera on the front for selfies. Other features include Wi-Fi, Bluetooth v5.0, Wi-Fi direct, 3.5mm audio socket, USB Type-C port, and GPS. The device will feature Android 10-based skin while running on a 7,040mAh battery.


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Big appointment for Landsec. The UK commercial property giant has hired Remco Simon to the newly-created role of managing director – Strategy and Capital Markets. Effective immediately, the will report to CEO Mark Allan.
Urban Outfitters Inc. reported on Tuesday double-digit revenue growth for the 2021 holiday season, compared to the same two-month period in 2019, driven by strong growth in the U.S. group's digital channel.
Wilko is to close 15 stores in 2022, it announced on Tuesday. The value-focused general merchandise retailer that also sells beauty products has reviewed its store estate as a result of a number of leases ending.
Consumer spending on essential items grew in December by as much as 13.7% on a two-year basis, but clothing saw slower growth and department stores also lagged compared to supermarkets and discounters.
It will probably go down as one of the capital's most derided attractions. London’s Marble Arch Mound, the £6 million, 72 ft-high hill folly that claimed the job of Westminster council’s deputy leader, closed on Sunday.
City centre retail destinations may not have actually been deserted in the latest week, but with advice to work from home still in force, footfall to those locations was down by a big percentage in the seven days.
London continued to be the shopping capital of Europe in 2021, according to a new report by BNP Paribas Real Estate, with Oxford Street, Regent Street and Covent Garden all scoring highly in terms of visitor numbers.
The owner of Hotter Shoes is gearing up for a transformational year as it changes its name, relists on a new exchange and moves into new categories such as clothing, as well as adding third-party brands.
Selfridges Retail Limited has filed its full accounts for the year to the end of January 2021 and they show the devastation that the pandemic wreaked in what should have been another good year for the company.


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With Mobile World Congress over for another year, have we finally completed the long-awaited ‘year of mobile’, or are we still yet to see it? Writing exclusively for ExchangeWire, James Shepherd (pictured below), EMEA Commercial Director, M&C Saatchi Mobile, questions whether we need to change the ‘mobile’ narrative.
If ever there were a year of mobile, it was last year. Now, can we please never use that phrase again! According to eMarketer, last year mobile topped desktop, TV, print, and out-of-home in spend. This year, UK mobile ad spend is set to reach nearly £7bn, projected to represent nearly a third of the UK’s media ad investment. These statistics demonstrate that mobile is not just dominating digital media spend, but dominating media spend full stop.
That media spend is, of course, reflective of consumer time spent. Mobile is the dominant screen in our lives, dominating search, dominating consumers’ time online, and driving e-commerce. It plays such a varied role in our engagement with brands – from research, to purchase, payment, and loyalty. It’s the everything/everywhere device; and brands that don’t adopt the mobile-first mindset are at risk now, more than ever, to changing consumer needs and demands.
The increasing scale and prominence of an event like Mobile World Congress (MWC) only reinforces this. The sheer breadth of what’s on show at MWC illustrates that we need to reframe what we mean by ‘mobile’. There were smart cars powered by mobile technology, lots of examples of VR powered by mobile and a whole host of IoT/connected devices powered by mobile. Across eight aircraft-hangar-sized halls, MWC demonstrates how mobile is driving innovation.
Despite this innovation, it’s safe to say nostalgia ruled at MWC 2017, with the reimagined Nokia 3310 dominating the news agenda. Since its unveiling by Nokia in Barcelona, Carphone Warehouse has called the demand for the much loved-model ‘astonishing’, having seen an “unprecedented level of demand for a feature phone”. Following the launch, searches for the model jumped by a staggering 797%.
While I think a lot of this is nostalgia, I spoke to a lot of people who were planning to buy one as a weekend device (it will take a Nano sim from an iPhone 7). As a constantly connected, switched-on society, we sometimes seek digital detox; and the idea of a weekend ‘dumb’ phone seems to appeal to many. It appealed to me too, until a friend pointed out that I couldn’t get an Uber on one. But if it really takes off, I can see rudimentary versions of your favourite app being developed to run on Nokia’s series 30+ OS.
One of the biggest announcements of the week was the news that 5G technology is currently under development. 5G will handle more data, connect more devices, reduce latency, and bring new levels of reliability, with speeds rumoured to be up to 100MBPS. The technology was even addressed during the 2017 Spring Budget, when the UK Chancellor Philip Hammond announced the Government would be investing £16million into 5G research.
We also saw significant discussion around the rise, and increasing importance, of Artificial Intelligence (AI). We feel that AI and machine learning will be the big game-changers in 2017. Sundar Pichai, Chief Executive of Google, announced in 2016 that the world’s biggest internet company would “move from mobile-first to AI-first”; and investment in this area is expected to grow, spearheaded by Google’s DeepMind. Alongside the real challenge of Ad Fraud, machine learning is already enabling us to detect patterns in data that indicate potential fraudulent activity. The industry still thinks desktop-first when it comes to fraud; and standards and platforms need to evolve now, more than ever, to mirror user behaviours and demands made by the mobile-first consumer.
Ad blocking was one of 2016’s biggest talking points; and it’s something that is going to keep on rumbling. However, smarter targeting, creativity, and messaging can help us overcome these issues. The more we harness data to better understand audiences, the more relevant the creative and messaging we can serve will be. The time is ripe for brands to tap into the opportunities afforded by mobile to engage with audiences in increasingly dynamic and innovative ways; and we expect to see contextually relevant, interesting creative emerge throughout the year.
This all reinforces our point that mobile is more than just a channel. As we become an increasingly connected society, with mobile at the centre, the need for brands to invest more heavily to connect with an increasingly mobile-first audience is imperative, now more than ever.


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Holiday park operator Parkdean Resorts is looking for the next generation of holiday industry professionals to join the company’s apprenticeship programme.
The company currently has 170 apprentices working across the UK at more than 70 of its holiday parks, with a further 56 positions now available throughout the organisation.
Roles are available in leisure, IT, HR, customer service, marketing and food and beverage. School leavers can gain valuable industry experience with the chance of a permanent job offer.
Apprentices receive an hourly rate of £5 – which is £1.50 more than the national guidelines – have access to a variety of training, and get involved in monthly recognition meetings, acknowledging team and individual achievements with Star Performer Awards for outstanding contributions to the success of the business.
Responding to the Apprenticeship Levy that came into effect in April this year, the business has introduced measures to drive the development of key skills via academies, in addition to having its own dedicated apprenticeship programme manager to work closely with the young people.
Emma Findlay, head of people development at Parkdean Resorts, said: “For a long time now, we have created opportunities for apprentices, helping young people to find their way into the tourism sector and gain practical skills and experience at a young age; opportunities which can often be hard to come by.
“As a sector, we recognise that hospitality careers are not always promoted, so by welcoming talent into the business via an apprenticeship we can nurture and grow our own workforce and help them enjoy a fulfilling job. We’re looking for our next apprentices now and have 56 positions available in a variety of areas.”
Apprenticeships are currently available with Parkdean Resorts across the UK, including vacancies in HR based at the Gosforth office. To view these visit www.parkdean-resorts.com/current-apprenticeships.aspx


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Keeping up with the fast pace of technological change is one of the greatest challenges for small businesses retailers.
Some technologies are changing the landscape of business, like the introduction of the smartphone or Facebook. Other technologies show great promise but quickly fade away.
These are the top retail technology trends that small businesses should consider if they want to keep up with their competition:
Mobile technology is taking over retail both in physical stores and online. Mobile is an essential aspect of your customer’s buying journey. According to a data from Pew Research Center, 68% of adults in the U.S. own a smartphone and more and more of those customers are using their devices to locate nearby stores, compare prices, and research product information.
Also, mobile payments have increased along with the adoption of smartphone ownership. Other statistics says that over 140 million adults in the U.S. report having made a mobile payment and that number is only going to increase. In 2017, smart retailers will increase their focus on mobile phones, tablets, and other devices such as wearables, to increase brand loyalty and improve the customer experience.
The growing mobile market provides smartphone users with an easy way to make online and offline transactions. This is especially true amongst younger consumers who have fewer apprehensions about adopting new technologies. These statistics are evidence that mobile commerce is now mainstream and retailers hesitant to adopt this technology risk leaving profits behind.
Advances in video
Video marketing is a fast-moving industry. In 2016, live video and augmented reality introduced a new opportunity for retailers to connect with their customers. Facebook is constantly innovating, having already introduced a live video.
According to its own research, Facebook users watch live videos three times longer than the ones that are no longer live. In addition, Facebook made a small update to their newsfeed that makes a live video more likely to appear higher in the newsfeed when these videos are actually live. This presents a big opportunity for small businesses to create unique content with their customers to combat some of the changes in organic reach that recently impacted many small businesses negatively.
There are so many creative ways to connect with customers. The adoption of live video streaming will increase in 2017. More retailers will incorporate Facebook Live, Snapchat, and other live video formats into their marketing mix to improve the customer experience and break through the online clutter. Virtual reality and augmented reality are video formats that will become the new norm. In 2016, we got a glimpse of the impact of augmented reality on retail when local businesses capitalized on the Pokemon Go craze to attract foot traffic to their businesses.
Augmented reality offers a way for retailers to attract and better connect with customers. Leading retailers are exploring innovative ways to combine this technology with customer insights to increase sales.
Buy buttons became a common feature on popular social media channels in 2016 and this is far from a fad. The ability to purchase items directly on social media is a trend that will continue to intensify in 2017.
Recently Facebook announced that the Buy Button is coming to the messenger. People use social media to discover products, interact with brands and give or share product recommendations. It only makes sense that brands both large and small have the ability to offer customers this option to purchase products directly on social media.
For the 46% of the B2B marketers that are still unsure how their social media channels are contributing to revenue, this evolution in social commerce offers a solution. Naturally, this will increase the adoption of social media amongst the few retailers who have seen it as a nice-to-have so far.
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Downtown business holiday traditions make it worth staying home for
Local retailers make shopping local fun, easy
If seeing Santa and Mrs. Claus isn’t enough to make staying in town over the holidays appealing, the Downtown Business Association’s spirit might be the key.
Beginning Friday, most downtown merchants will participate in a series of events geared toward making shopping in the historic district convenient, affordable and an experience worth more than the tank of gas to get out of town.
In uncertain economic times, some local business owners are surprised to see holiday shoppers reflect on how spending locally might impact the area’s bottom line, but they still plan to offer plenty of alternatives to out-of-town purchases.
“I’ve heard a lot of people saying that they are shopping locally this year because they know how important sales tax dollars are to city and county budgets,” said Nadine Dazskiewicz, owner of the Kitchen said.
Participating businesses will open early, stay open late, offer tax-free shopping hours and collect canned goods and money for the annual KRAI FM holiday drive.
The importance of keeping local dollars local is only a small part of why gifts purchased in Craig will satisfy even the most finicky recipient.
“We love old stuff,” said Sherri Fredrickson, owner of Favorite Things. “We really love changing things, so we always have a variety to choose from.”
Fredrickson opened her store in May after she saw a need to provide a “little bit of everything” to her residents.
“We now have booths in the basement, which was never open before,” Fredrickson said. “Different dealers rent the space and sell their items. It’s really gone over well.”
Although much of the merchandise in Favorite Things comes from locals, the store takes consignments and Fredrickson takes frequent buying trips to provide unique items to her customers.
Mary Kay Sherman, owner of The Giving Tree, will spend her first Christmas in Craig as a business owner and did her best to provide enough holiday-related merchandise to keep Christmas fantatics happy while beefing up her regular stock of jewelry and other gift items.
“Snowmen have been really big forever,” she said, “but the trend this year is toward the primitive collections.”
Sherman said her store offers a variety of tastes from cutesy and primitive to lodge and western, and she offers weekly incentives for her customers.
At the Kitchen Shop, Daszkiewicz said that this year’s hot trends include bar stuff, eclectic items and food products.
“People must be entertaining more,” she said. “Cocktail shakers, olives, martini glasses and pretty much anything to do with bar drinks is really hot,” she said.
Daskiewicz has also sold out of a special coca wrapped in a cellophane cone and is nearly out of handmade candy canes from the United States’ last handmade candy cane manufacturer — Hammond’s Candies.
If shopping isn’t the only item on the holiday agenda, the Downtown Business Association is also hosting the first-ever handmade ornament contest. All ornaments must be handmade and dropped off at the Community Budget Center by Dec. 19. Judging will take place Dec. 20 and all ornaments will be displayed on Christmas trees in the Budget Center display windows. The overall winner will receive a gift basket donated by the downtown merchants.
No matter what activity one chooses to participate in, there are prizes galore.
“We have lots of cash prizes.” Daszkiewicz said. “The car dealers each chipped in $200, and KRAI will give away $50 for the best sound (during the parade of lights).”
Samantha Johnston can be reached at 824-7031 or by e-mail at firstname.lastname@example.org.
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Rad Power Bikes is kicking off the new year with a new model and improvements across nearly its entire line of e-bikes. The big news is an all new RadRover Step-Thru that brings the power of electric mobility to even more customers in a new build that combines the fat tires from the RadRover and a new low-step frame that makes it easier to mount.
“The RadRover launched our business in 2015 and gave a jolt to the e-bike revolution by proving that electric bikes can be durable, powerful, affordable, and built for everyday adventure. Five years later, we’re reinforcing our commitment to e-bike accessibility and utility with the RadRover Step-Thru,” Mike Radenbaugh, Rad Power Bikes’ founder and CEO, said. “This beast of a bike combines the rugged capabilities of our flagship high-step model with a new frame style that fits the needs of more riders.”
Rad Power Bikes is North America’s largest e-bike brand, making the improvements that much more exciting as their extremely affordable prices make it easy for almost anyone to ride electric. We love our electric vehicles (EVs) around here, but bicycles enable not only far lower emissions per mile than even EVs, but the ability to get in shape at the same time.
A slew of improvements were deployed to many of its other e-bikes for the new year as well. To help buyers and owners keep the different configurations straight, a new naming convention aims to simplify things with the new RadRover 5, RadMini 4, RadMini Step-Thru 2, RadCity 4, and RadCity Step-Thru 3 being introduced.
Pricing stays the same in a nice blessing for new buyers, with new features like standard fenders on the RadRover and RadMini models. The RadCity picked up new mount points for security-oriented accessories that will make it easier for owners to keep their new rig safe where ever their travels may take them. The RadCity 4 line has also been consolidated from standard and large frames to a single 18.5″ frame size for 2020.
The entire Rad Power Bikes lineup traditionally shares many common features like lights, derailleurs, batteries and the like. That standardization is helping out buyers of new 2020 models as Rad Power Bikes is rolling out a new halo headlight that not only looks sweet, but improves visibility of the bikes from the side. A new throttle and refreshed aesthetics are also coming to the entire lineup to help ring in the new year.
The new bikes are already starting to roll out for customers in the US and Canada, so head on over to www.radpowerbikes.com to see if one of their new lineup is a good fit for you.
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I believe each and everyone knows more about Tesla and how Elon Mask is utilizing on the power of technology to make life so simpler in today’s evolving technology world.
Tesla recently broke ground on Gigafactory 3 in Shanghai and has grand ambitions in China but it faces serious competition there from a mix of Chinese and foreign automakers already manufacturing electric vehicles there, for example: BYD, BAIC Group, SAIC and Nio; and BMW, Mercedes, Audi and Toyota.
Tesla needs China, the world’s largest auto market, in order to succeed. Customer demand and government support for so-called “new energy vehicles” there is skyrocketing.
CEO Elon Musk recently warned that without manufacturing in China, Tesla won’t be able to produce 10,000 Model 3 electric sedans per week (as the company has aimed to do for years) and won’t be able to offer the eagerly awaited base model at a price of $35,000.
“Bottom line is we need the Shanghai factory to achieve that,” Musk said on the company’s 2018 fourth-quarter earnings call.
However, Tesla — like other U.S. automakers — faces considerable competition in China.
According to Michael Dunne, founder of automotive advisory firm ZoZoGo, “China produced half of global electric vehicles last year. The U.S. produced about twenty percent. China is clearly way out in front in terms of size, production and scale.”
Electric vehicle makers that are already up and running there include:
- NIO, which went public in September 2018
- Warren Buffet-backed BYD
- A partner of Volkswagen and GM called SAIC Motor
- Geely Automotive Group which is the parent company of Volvo
- BAIC Group, and its subsidiary, Beijing Electric Vehicle Co.
Chinese automakers have benefited from some $60 billion worth of subsidies and incentives since 2012, designed to make new energy vehicles affordable for Chinese drivers, according to ZoZoGo.
But as Musk recently bemoaned, Tesla hasn’t been able to cash in on those subsidies and tax incentives. As a result, a Model S that would cost around $80,000 in the U.S. today would cost around $140,000 in China after taxes, for example.
Tesla’s vehicles will probably remain very costly in China until the company begins manufacturing at its planned factory there in Shanghai.
Even though Tesla broke ground on its Gigafactory 3 in Shanghai, the company has yet to publish an 8-K filing with the SEC showing that it has secured funding, or secured a material partnership, to build it out.
Recommended: The Use Of Biometric Technology In Elections
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Australian Competition and Consumer Commission (ACCC) Chair Rod Sims has been confirmed by the steering group of the International Competition Network (ICN) as the new Vice Chair Digital Co-ordination and Asia-Pacific Liaison.
Mr Sims’ role was confirmed at an ICN meeting on Wednesday night, September 15. He will focus on coordinating ICN projects and discussions about competition in the digital economy and will also act as a liaison between the ICN Steering Group and ICN members in the Asia-Pacific region.
“I am very pleased to take on this role. Competition regulators are increasingly dealing with global issues that require global responses, underscoring the importance of the ICN’s work,” Mr Sims said.
“Competition authorities around the world have much to discuss and learn from each other as we continue to face the challenges posed by the need to promote competition and good consumer outcomes in many areas of the digital economy.”
Mr Sims will work closely with ICN Chair Andreas Mundt, the President of the German Cartel Office (Bundeskartellamt), together with the ICN’s other Vice Chair, Tembinkosi Bonakele, Commissioner of the South African Competition Commission.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.


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The Chinese-language Economic Daily News has reported that a bidding war of potential component suppliers is nearly over. Unlike the previous "news flashes," EDN not only has journalistic street cred, but may actually have sources within Apple's Taiwanese supply chain
and manufacturing facilities.
Right now, Taiwan Semiconductor Manufacturing Company (TSMC) and United Microelectronics Corporation (UMC) are the front-runners to supply the guts of the NanoPhone. Additional rumors swirl of a full chip order this March (for a possible June rollout), and of Qualcomm, rather than Infineon, providing the baseband controller.
Apple's strong real-world revenues and high iPhone gross margins have long fanned hints that a US$99.00 iPhone is a logical next step. AT&T insiders insist that such a device has not yet hit their testing labs; however, this could also mean that the NanoPhone might be intended for Pacific Rim release only.
Again: we'll believe it when we see it…


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India-based gaming company Octro has received Series A round of funding of US$15 million from Sequoia Capital. This announcement comes after last week’s news on Sequoia Capital raising its fourth India-focussed fund of US$530 million.
Building on its portfolio of games, Octro has also launched Tambola (popularly known as Bingo in the region) as a mobile game.
Mohit Bhatnagar, Managing Director, Sequoia Capital said, “Indian games like Tambola, Teen Patti and Rummy (card games) have been a part of people’s lives for years. Octro has made these culturally-relevant games come to life on the mobile. We look forward to working closely with the team and leveraging our network to help the company scale greater heights.”
Games Teen Patti and Rummy have become very popular in India and are among the top five games in multiple categories on Google Play.
“Our games just work! The key to our success has been our robust technology platform that allows for fast gameplay. People simply love our games because we are re-imagining games that have existed in the offline world for years and making them available on the mobile for people to play anytime, anywhere ,” said Saurabh Aggarwal, CEO, Octro.


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A day after announcing advanced talks and meeting with top French politicians, Nokia (NOK) said it would buy Alcatel-Lucent (ALU) in a €15.6 billion ($16.6 billion), all-share takeover that has the blessing of the French government and will create a European telecommunications-network equipment heavyweight.
Nokia would pay 0.55 of a share for every Alcatel-Lucent share in the deal, a 34% premium to its undisturbed closing price that would give 33.5% of the enlarged company to Alcatel-Lucent investors. Alcatel-Lucent shares slipped 12.4%, or €0.556, to €3.925 in mid-day Paris trading, eroding Tuesday's 16% gain. Nokia stock rose €0.11 to €7.60.
Nokia has been courting Alcatel-Lucent for years and managed to persuade Alcatel-Lucent CEO Michel Combes that a fusion will allow the target to better address financial pressures and competition from China's Huawei Technologies Co. Ltd. and Ericsson AB, of Sweden.
Analysts and investors had feared concerns that the deal would cost French job could stymie the much-discussed deal, but both Combes and Nokia President and CEO Rajeev Suri allayed those fears during a Wednesday press conference.
French President Francois Hollande and Economy Minister Emmanuel Macron "both welcomed the emergence of this European champion that will fuel and strengthen digital technology in Europe," Alcatel's Combes said. He and Suri met with the politicians on Tuesday.
"Both the president and the minister of the economy have understood the importance of this ... not all European champions can be French," Combes said.
The partners expect the deal to close in the first half of next year and said they are targeting €900 million in operating cost synergies by 2019.
Nokia's Suri as well as chairman Risto Siilasmaas will retain their positions in the enlarged Nokia, which will also keep its Espoo, Finland, headquarters. Alcatel-Lucent will appoint three of the combined company's 9 or 10 board members.
Nokia said it will rely on the former Alcatel-Lucent as well as the target's French sites for research and development and pledged to keep French layoffs to those agreed last year in a restructuring package hammered out with unions and the French government.
The deal will require regulatory approval in at least nine jurisdictions, including China, the U.S. and Europe, the executives said. They also called on European watchdogs to support the creation of a European champion that can compete internationally despite potential rivalry issues within Europe.
"We have a ton of experience getting these antitrust approvals over time," Suri said. "We understand the process very well. We are doing this from a position of strength. We are doing this after both companies have been through a restructuring themselves."
Despite their swagger during a press conference, in which Suri took potshots at Sweden's Ericsson for lacking in some areas, both Suri and Combes have fought to make similar cross-border mergers successful.
Nokia in 2013 bought Siemens out of their 50-50 network equipment venture for €1.7 billion just a month before peddling its ailing handset division to Microsoft (MSFT) for €5.44 billion. And while the trimmer Nokia slowly returned to health, Alcatel-Lucent only recently began to recover from its $13.4 billion merger with Lucent Technologies in 2006.
That trans-Atlantic deal aimed to create an international telecommunications equipment powerhouse. Instead, it left Alcatel-Lucent spread too thin and overexposed to low-margin businesses. Still, Lucent's history as Bell Labs in the U.S. will help Nokia gain traction in the world's biggest economy.
Nokia said Wednesday it would also review a sale of its Here mapping division amid reports it had already contacted German carmakers, car service Uber Technologies and private equity funds. The unit could be worth as much as €4.5 billion, according to Citigroup analysts.
The deal with Alcatel-Lucent would combine the French company's fixed-network expertise and strong U.S. position with Nokia's cellular network focus just as more companies, such as Google (GOOG) and Amazon (AMZN), toy with establishing their own networks and phone companies begin planning next generation, or 5G, networks.
Last year, the pair had combined sales of €25.9 billion, leading to operating profit of €2.3 billion.
"The risk we all faced collectively is that only Chinese players drive 5G technology forward, because European players aren't solid enough," French Economy Minister Macron told reporters in Paris on Tuesday.
-- Written by Andrew Bulkeley


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Saturday, 7 December 2013
Alan Greenspan says Bitcoin has no intrinsic value
This was stated on 5 dec 2013 (Bloomberg).
He is a great economist but does he understand the new economy?
In the information era, data has value whence once it had little or only when turned into information. Today the data/information industry (Baidu, Facebook, Yahoo, WeChat) is growing fast, is adding new categories like the sharing economy (Lyft, AirbnB, Funding Circle) with more categories expected as we move deeper into the cycle of the information age when once it was a stagnant sector (mostly the media, publishing and information services). Bitcoin is a currency based on data, created by computing a complex algorithm which is akin to being mined. While the establishment criticise Bitcoin, could it be that they are seeing it through rose-tinted glasses of traditional convention? And all this as the underlying change caused by the cycle towards the information age marches on. Admittedly, it’s early days so he may not grasps the new.
Here are a few examples showing that data has value, raw or processed:
· Big data is an example of data now having a value on its own albeit that it needs to be mined
· Social data, created by the social media companies now has a lot of value. Google and Weibo are behemoths, based on information and data. Once massive amount of data was close to valueless because there was no way to mine them cheaply but with today’s low cost of computing, it does.
· Telcos as one example has transformed into a data business. The voice business model has collapsed with the internet (turned voice to simply data). With increasing revenues, data obviously has a lot of intrinsic value.
Paper currencies are simply pieces of paper but backed by governments. That’s where it derives its value now that the gold standard has been abandoned. Not long ago, currencies were backed by gold. Bitcoin is a ‘piece’ of data, backed by the crowd. It is modelled after gold and thus harks back to the days of the gold standard but in an information economy. In this era socio-economically speaking, the crowd has acquired an unusual place. Crowdsourcing is now the engine of commerce (see ‘Crowdsourcing; why it works” dated 18 Aug. 2013 in this blog. It also tells why data now has value). The crowd’s role in the economy was once in consumption but now it also produces (see ‘peer-to-peer as a business model Part II’ posted 16 Nov. 2013). The world’s certainly more democratic now, implying the crowd nowadays has more power. The command-and-control culture also seems to be breaking down. Etcetera. And isn’t democracy backed by the crowd?
Like Napster (the peer-to-peer model did not go away despite the detractors) so it is likely that Bitcoin or its derivative could evolve similarly.
Update...Interestingly Federal Reserve’s outgoing Chairman Ben Bernanke ‘praised digital currencies’ in a letter to the US Senate as reported by Time 16 December 2013.