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Direct purchases by private trade from farmers will enable demand-supply imbalances to iron out faster across regions and over time.
That government policies can have distortionary effects on commodity markets is a well-established fact. But nowhere is this starker today than in wheat, where the government itself has become the ‘market’. Government agencies have procured almost 38 million tonnes (mt) out of this year's total production of 90 mt. If despite that, wheat is still selling at around Rs 1,150 a quintal in most mandis of Uttar Pradesh — as against the Centre’s minimum support price (MSP) of Rs 1,285 — it indicates two things. One, the MSP has become a ‘maximum’ price that only the government can afford to pay. So, in the mandis where it is not present, open market prices have fallen below the MSP. Two, government purchases, rather than setting a benchmark floor price above which other players trade, have become the sole source of trading in the market. The private trade has been crowded out not just by MSPs de-linked from market realities, but also mandi levies amounting to over 10 per cent in major producing States, and export bans imposed from time to time.
In contrast to wheat is the case of potato, where we have a completely ‘free’ market and organised buyers — private, government or cooperatives — do not handle even 5 per cent of India’s output; even the biggest player, PepsiCo India, hardly does 1.2 lakh tonnes. That imparts huge volatility to prices. In December, potato was being sold at Rs 2/kg wholesale, on the back of a bumper 2011-12 crop of 41 mt that cold storage owners were dumping on the roads to make space for the fresh harvest due for arrival. But the new crop turned out to be 10 per cent lower, largely because of poor price sentiment, inducing farmers to plant less and cut down on inputs. Since that news has filtered down, wholesale prices have shot up to over Rs 10/kg. Potato is now retailing at Rs 18-20/kg, compared to Rs 6-7 six months back. That works out to an increase of much more than 10 per cent.
What both wheat and potato point to is the need for well-functioning markets. While distortionary government policies have ensured that the country today has virtually no private trade in wheat, the problem in potato and most other horticulture produce is one of segmented markets, where information does not flow freely and are naturally prone to speculation. Potato farmers and consumers both stand to benefit from large players — whether Amul-like cooperatives or foreign retail chains — who would help consolidate a fragmented post-harvest value chain. Dispensing with high mandi taxes and outdated State laws banning direct purchases from farmers would give further fillip to creating a single national market, enabling supply-demand imbalances to be corrected faster across space and time. Governmental grain purchases and sales should be only at market rates, with any additional MSP or consumer subsidies being credited directly to the beneficiaries’ bank accounts.


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GoPro’s (NASDAQ:GPRO) “Hold” Rating Reaffirmed at Cowen and Company
Several other brokerages have also weighed in on GPRO. Wedbush reissued a hold rating and set a $9.00 price objective on shares of GoPro in a report on Thursday, June 1st. Dougherty & Co reissued a sell rating and set a $5.00 price objective on shares of GoPro in a report on Tuesday, April 25th. Vetr lowered GoPro from a strong-buy rating to a buy rating and set a $9.71 price objective on the stock. in a report on Monday, April 10th. Morgan Stanley raised GoPro from an underweight rating to an equal weight rating and set a $7.50 price objective on the stock in a report on Monday, July 31st. They noted that the move was a valuation call. Finally, BidaskClub lowered GoPro from a sell rating to a strong sell rating in a report on Thursday, July 27th. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $8.28.
GoPro (NASDAQ GPRO) traded up 19.25% during midday trading on Thursday, hitting $9.85. The company had a trading volume of 28,773,541 shares. GoPro has a one year low of $7.14 and a one year high of $17.68. The company’s 50 day moving average is $8.07 and its 200-day moving average is $8.63. The company’s market cap is $1.42 billion.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Thursday, August 3rd. The company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.20. GoPro had a negative return on equity of 38.52% and a negative net margin of 27.88%. The company had revenue of $296.52 million for the quarter, compared to analyst estimates of $268.94 million. During the same quarter last year, the firm earned ($0.52) EPS. GoPro’s revenue for the quarter was up 34.3% compared to the same quarter last year. On average, equities analysts predict that GoPro will post ($0.12) EPS for the current year.
COPYRIGHT VIOLATION NOTICE: This story was first published by Daily Political and is owned by of Daily Political. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://www.dailypolitical.com/2017/08/06/gopros-nasdaqgpro-hold-rating-reaffirmed-at-cowen-and-company.html.
In related news, Director Anthony John Bates sold 41,076 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $8.49, for a total value of $348,735.24. Following the sale, the director now owns 142,011 shares of the company’s stock, valued at approximately $1,205,673.39. The sale was disclosed in a legal filing with the SEC, which is available through this link. 28.69% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. bought a new stake in shares of GoPro during the first quarter valued at approximately $113,000. Engineers Gate Manager LP bought a new stake in shares of GoPro during the first quarter valued at approximately $118,000. Financial Architects Inc raised its stake in shares of GoPro by 15.2% in the first quarter. Financial Architects Inc now owns 15,200 shares of the company’s stock valued at $132,000 after buying an additional 2,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of GoPro by 195.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 16,250 shares of the company’s stock valued at $132,000 after buying an additional 10,750 shares in the last quarter. Finally, Concourse Capital Management LLC bought a new stake in shares of GoPro during the first quarter valued at approximately $155,000. 25.31% of the stock is currently owned by institutional investors and hedge funds.
GoPro Company Profile
GoPro, Inc (GoPro) produces cameras and mountable and wearable accessories. The Company’s product offerings include HERO5, which is a line of cloud-connected cameras featuring image stabilization, telemetry, cloud connectivity and voice control; GoPro Plus, which is a cloud-based storage solution that enables subscribers to access, edit and share content; Quik, which is a mobile editing application that creates edits on a smartphone; Capture, which is a mobile application that allows users to preview and play back shots, control their GoPro cameras and share content on the fly using their smartphones; Karma, which is its compact and foldable drone and versatile stabilization solution that includes the Karma controller, and camera stabilizer, and it all fits in a custom backpack, and Karma Grip, which is a handheld, body-mountable camera stabilizer.
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Manufacturers must avoid costly machine errors that cause catastrophic damage to both machine tools and expensive workpieces. Even a minor error in, say, a titanium aerospace component can be a major expense.
Displaying 1-10 of 358 results for
When former General Electric Co. chief Jack Welch died this week at 84, it was as if a legend had departed. He was the CEO who had transformed an aging industrial concern into a vibrant giant. But it's also a cautionary tale.
Hitachi Powdered Metals (USA) Inc. began a gradual investment in industrial robots at their Greensburg, Ind. plant in 2005, driven by the emergence of a tightening labor market and the opportunity to produce an extremely fragile product.
The impact of the coronavirus on the auto industry is on the cusp of accelerating, according to a Center for Automotive Research presentation today.
VoltAero has begun flight testing of its new family of Cassio e-aircraft using Safran Electrical & Power’s ENGINeUSTM smart electric motors.
Software Stay informed with the latest insights, news, resources and products in Software to improve your manufacturing career and operations. software, software manufacturing, controls and
Getting fast, accurate data delivered to the palm of your hand is helping drive demand for enterprise resource planning (ERP) software. With the popularity of smartphones and tablets, manufacturers are capitalizing on the ability to get critical factory operational data from ERP, manufacturing execution systems (MES) and enterprise manufacturing intelligence (EMI) applications into the hands of the right decision-makers in a timely manner.
Enpress LLC (Eastlake, OH) selected ERP software from Epicor Software (Austin, TX) in March 2014 to gain real-time access to data to improve operational efficiencies internally and communications with its customers.
VeriTX Corp. announced today an agreement to license Moog Inc.’s VeriPart process which enables high integrity supply chain solutions.
Practical Machinist wanted to simplify your quest by providing you with a list of the best-selling machining books of 2019 according to our community. All the books in this list are a must-have, so we strongly encourage you to add them to your machine shop library, if you don’t have them already.


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Futures climbed for a third week as companies including Apache Corp. and Total SA announced spending cuts. Bad weather kept tankers from loading in southern Iraq and Libya’s production decreased. Baker Hughes Inc. said rigs targeting oil in the U.S. dropped to the lowest in almost five years. “To maintain production growth you are going to have to drill more,” Phil Flynn, senior market analyst at the Price Futures Group in Chicago, said by phone Feb. 13. “There’s loading issues in Iraq and production issues in Libya. Some people were caught off guard. The fundamentals are changing here.”
US Dollar to Canadian Dollar = 0.798464; US Dollar to Chinese Yuan = 0.154145; US Dollar to Euro = 1.138608; US Dollar to Japanese Yen = 0.009331; US Dollar to Mexican Peso = 0.058277
Retailers are the biggest investors in digital ads, accounting for 21% of U.S. online ad spending in the first half of 2014, according to the Interactive Advertising Bureau. Knowing what those marketers focus their investments on and the challenges they encounter in creating and executing on campaigns is important. The findings of the State of Digital Marketing Survey from content marketing technology vendor Zmags show that marketers believe they don’t have time to manage everything they have to or want to do with online campaigns. 40% of 176 senior marketers surveyed said lack of time was their biggest challenge in delivering new digital marketing experiences. The area they find the “most critical” in creating digital experiences that grab consumers’ attention is rich media content. 49% say such content is most important, followed by 20% who find delivering the right message at the right time most critical. 17% cite delivering content across multiple channels and devices as critical, 9% say making the purchase process easy and 5% say getting digital experiences to market quickly.
Is there anything more annoying than the unwanted and uninvited sales person who knocks on your door trying to sell you a product or service that you don’t want, don’t need, or isn’t related to any of your interests? This is no different than when someone visits a magazine’s web site and is instead greeted by an unwanted and uninvited pop-up ad. Readers have grown weary of these invasive ads as well as hidden tracking technology, slow browsing experiences and bandwidth-sucking, auto-play videos — and they are taking action. According to an August 2015 report by PageFair and Adobe, during the past year ad blockage usage in the United States grew 48 percent. As of Q2 2015, 45 million monthly active users have hung the equivalent of a “No Solicitations” sign on their virtual doors. Ad blocking capability in Apple’s new iOS9 is expected to accelerate this trend.


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AT&T agreed to purchase DirecTV for $48.5 billion on Sunday in the latest telecommunications merger. The deal follows other prominent acquisitions -- Comcast bought Time Warner for a similar amount of money in February.
The AT&T-DirecTV deal is distinct from other cable mergers in that the two businesses have little overlap -- AT&Ts wireless internet and phone services don’t compete with DirecTV’s satellite operations. Instead, AT&T plans to bundle services with existing internet and phone packages.
Critics argue that more mergers stifle competition in telecommunications, while proponents of the deal say that it takes giant businesses to compete with other giant businesses.
How will AT&T capitalize on the deal? What is DirecTV’s role in the industry? How could the merger impact consumers and other businesses?
Cynthia Littleton, television editor, Variety
Roger Entner, Founder and Lead Analyst of Recon Analytics, former Senior Vice President and Head of Research and Insights for the Telecom Practice of The Nielsen Company


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The idea of ‘too much of a good thing’ is a complex one.
Yes, you can overdo delicious foodstuffs - just ask Bruce Bogtrotter - but you’re far more likely to ruin something by adding to it rather than just having more of it.
After all, you can always leave some ketchup or mayo on the side if you’ve been given more of it than you can manage, but this is impossible when the condiments come pre-mixed.
Has humanity gone too far this time? We’ll let you be the judge.
People will combine all manner of things: fanta and coke from a soda fountain, or dip chips in their ice cream, but part of the beauty comes from the forbidden element. As soon as your frankenstein ingredient becomes an official thing, what’s the point any more?
Well, Heinz seem convinced they can buck the trend, having combined mayo and ketchup in the snappily-named… Mayochup.
“After seeing the unprecedented passion surrounding this product, including the nearly one million votes on social media and 500,000 votes in favor of bringing it stateside, launching Mayochup in the U.S. was a no-brainer,” Heinz’s director of marketing Nicole Kulwicki said.
It could easily have wound up with a different name, though, if some fans’ suggestions had been listened to.
Others pointed out that it’s been a thing in some parts of the US for a while:
But are people actually into the idea of this frankensauce?
As ever, it’s complicated.
Mayochup is only available in the US at present, but a vote was launched on Twitter, with Heinz saying if 50,000 people wanted the sauce to cross the Atlantic then we’d be seeing it in UK supermarkets next year.
Well, it took barely 48 hours to hit the target, and Heinz are already “looking at how we can bring the perfect recipe for Heinz Mayochup to the UK,” according to senior brand manager Martina Davis.
Why is 2019 so far away?
In the meantime, we’ve got a lifehack for all you fans desperate for a taste of the good stuff.
All you have to do is - wait for it - get some mayo and some ketchup and combine them yourself.
You can thank us later.


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According to a new report, Microsoft is reportedly planning on releasing the Surface RT tablet to more retail channels, beyond what is currently available. On top of that, Microsoft is apparently pushing to get this going “within days.” Could we start seeing the Surface tablet in more retail stores in time for the holidays?
“I can’t say too much about this, but within days, Microsoft’s Surface with Windows RT tablets will be available far more broadly than via its current, limited distribution system (i.e., only via Microsoft’s retail and online stores),” the report states. Microsoft was apparently planning on making this happen in early 2013 but the company has decided to speed things up and make the Surface RT tablet available to more retail stores, in time for the holiday season. The report also indicates that the Surface RT has been selling “very well” thusfar, and if this report is true, Microsoft can expect a boost in sales by allowing more retail stores to carry the tablet.


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Fitur generated an economic impact of a 200 m in madrid
Fitur 2015 generated an economic impact on the city of Madrid, which exceeded 200 million euros of induced income, according to the organization.
In total, the international tourism fair, Fitur 2015, closed its 35th edition with 222.551 visitors including the weekend, 2.1% more than in 2014.
, 125.085 were professional visitors, 5% more than a year ago from 139 countries.
The number of international visitors increased 12%.
The contest brought together a 4% more of companies, until 9.419, reported the organization.
The fair hosted 688 exhibitors stand holders, one 13% increase, from 165 countries, covering an area of 56.233 square meters exhibition, one 4% increase.
The global budget of the fair was 10.5 million euros.
During the five days of Fitur, the economic impact on the city of Madrid exceeded 200 million euros, induced income, according to the Organization, which emphasizes that successful participation record coincided with the best data of the tourism industry in Spain and around the world.
Fitur 2015, which was inaugurated by the Kings last January 28, counted with the participation of 51 Ministers of tourism from all five continents.
The fair works already in its 36 call to be held from 27 to 31 January 2016.
according to final data, and in accordance with the sectoral representation, 31.3% of exhibitors belonged to the hospitality sector; 27.2% to official bodies; 12.4% to wholesalers, travel agencies and receptive and 8.3% professional associations.
In addition, 7% were limited to the field of leisure and culture, 5.4% were service companies, 2.5% of transport, 2.1% of incentives, meetings and congresses, equal percentage than companies in technology and know-how, 1.1% health enterprises, 0.8% to media and 0.2% to residential tourism.
For the professional visitors, 23.6% were wholesalers, travel agencies and receptive, 14.8% of the hospitality industry, 9.8% of service companies, 8.4% of official bodies, 7.4% of leisure and culture and 6.4% transport.
In addition, among the visitors of the sector 5.3% came from national offices of tourism and foreign promotion bodies, same percentage as the coming of the MICE segment, 4.4% of professional associations, 4.2% media, 3.9% of technology firms, 3.4% of residential tourism and 3.3% of health tourism.


text: Tata Tiago XTA has been launched at a price tag of Rs 5.99 lakh (ex-showroom), India. With the new variant introduction, Tiago now has a total of 4 AMT options. The hatchback has been a success story in the Indian market since its launch back in 2016. To comply with the new stringent BS6 Emission Norms, Tata Tiago was launched with a new engine in early 2020. The same model was awarded a 4-Star Rating by Global NCAP making it one of the safest hatchbacks plying on the Indian road. In the lucrative Indian market, Tata Tiago competes against the likes of Ford Figo, Maruti Swift and Hyundai Grand i10 Nios. Earlier in September 2020, the hatchback hit a production milestone of 3 lakh units illustrating its wide popularity.


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April Is Financial Literacy Month. CNBC Kicks It Off With Special Month-Long Coverage (#GotBitcoin)
In recognition of Financial Literacy Month in April, CNBC’s Invest in You: Ready. Set. Grow., a financial wellness initiative in partnership with Acorns, will offer a variety of actionable personal finance content aimed at helping empower people to develop savings strategies. April Is Financial Literacy Month. CNBC Kicks It Off With Special Month-Long Coverage (#GotBitcoin)
CNBC is also unveiling its Financial Wellness Advisory Council, bringing together the foremost financial experts, thought leaders and influencers to offer personal finance tips and strategies. April Is Financial Literacy Month. We Kick It Off With Special Month-Long Coverage (#GotBitcoin?)
Throughout the month, CNBC will provide original articles and videos focused on savings advice, common myths about saving and investing, how to better navigate life’s biggest monetary hurdles and the different financial stages of life, among other topics. The content will be available on CNBC Digital (cnbc.com/invest-in-you) and across CNBC’s Business Day programming.
“Saving money is a large cause of financial stress for many Americans,” said Mark Hoffman, CNBC Chairman. “At CNBC, we believe in the importance of educating future generations, arming them with the knowledge and tools necessary for a healthy financial life. And with our Invest in You: Ready. Set. Grow. financial wellness initiative, we have the platform to provide users with easily digestible, actionable information to help them create essential savings strategies.”
Additional content from Invest in You: Ready. Set. Grow. For Financial Literacy Month Includes:
- Invest In You Savings Survey – The national survey, which was conducted by CNBC and Acorns in partnership with SurveyMonkey, will examine the savings behaviors of Americans, seeking to identify the most pressing savings issues people face today.
- The CNBC Financial Wellness Advisory Council – The council, which consists of financial experts, thought leaders and influencers who are passionate about financial wellness, will offer their insights and personal experiences with money and share key strategies and tools that can help educate users interested in bettering their financial futures. Tony Robbins, Life and Business Strategist, #1 New York Times Best-Selling Author, Entrepreneur, and Philanthropist, is a Special Advisor to the CNBC Financial Wellness Advisory Council. Additional council members include:
- Sheila Bair, former Chair, FDIC; and former President, Washington College
- Samantha Barry, Editor-in-Chief, Glamour
- Martin Cabrera, Jr., CEO, Cabrera Capital Markets, LLC; and Latino Donor Collaborative Advisory Network Member
- Brandon Copeland, New York Jets Linebacker; Entrepreneur; Professor; Philanthropist; and Investor
- Akbar Gbajabiamila, Co-Host, NBC’s American Ninja Warrior; and Author, Everyone Can Be a Ninja Warrior
- Billy Hensley, Ph.D., President and CEO, National Endowment for Financial Education
- Annamaria Lusardi, Ph.D., Denit Trust Endowed Chair of Economics and Accountancy, GW School of Business; and Founder and Academic Director, Global Financial Literacy Excellence Center
- Nan Morrison, President and CEO, Council for Economic Education
- Andy Roddick, former Professional Tennis Player; and Founder and Chair, Andy Roddick Foundation
- Gabriel Tanglao, Associate Director, New Jersey Education Association; and former teacher, Bergenfield Public Schools
- Mark Teixeira, former MLB First Baseman; Partner, Urban Creek Partners; and ESPN Analyst
CNBC will also launch the #SavingUpContest to challenge Americans to be more mindful of their savings habits and jumpstart conversations about saving and investing money. Users will post personal videos to Twitter, Instagram or Facebook and share what they are saving up for whether it be retirement, college, a home, etc. Ten winners will be selected to receive an Acorns gift card. Additional information and contest rules can be found here: cnbc.com/savingupcontest.
NBCUniversal and Comcast Ventures, the venture capital arm of NBCUniversal’s parent company, Comcast Corporation, are investors in Acorns.
Discovering Financial Literacy Through Crypto-Currencies
From interest to literacy, crypto appears to be at the heart of the emerging increase in financial education among retail traders.
Momentum trading driven by retail investors seems to have taken on a new life since the onset of the global standstill occasioned by the ongoing coronavirus pandemic. Where celebrity challenges used to dominate viral trends on social media, issues relating to personal finance and investments seem to be as popular these days.
This increasing interest in the financial markets from workaday folks has also spread to the crypto space as digital currencies posted sharp price recoveries from the slumps that characterized the Black Thursday crash of March 12, 2020.
While interest is palpable, some gatekeepers question whether the new generation of retail investors is sufficiently knowledgeable to be investing in risky assets. But has the management of personal finances and investing become a new fashionable trend?
COVID-19: Challenge And Opportunity
Trading apps like Robinhood and Coinbase have recently become the most downloaded on Apple’s App Store, ahead of popular social media services such as TikTok and Instagram. Given the sway held by social media over popular culture in the last decade, investment apps seeing the most downloads could point to a pivot in interests especially among the younger demographic.
According to a survey published by U.S. investment giant Charles Schwab, 15% of the current retail investors in America began investing in 2020. Indeed, the United States brokerage industry is estimated to have added 10 million new clients in 2020, with retail trading app Robinhood accounting for over 60% of the total figure.
The retail investment boom in 2020 can be attributed to two factors: market volatility and coronavirus lockdowns. With the global economy virtually on standstill, governments sought to stimulate growth and recovery by significant cash infusions in the form of stimulus packages.
According to the Charles Schwab survey, Millennials and Generation Z constitute the majority of the newbie investor class created in 2020. Indeed, Millennials accounted for over half the number of participants who said they got into the asset market amid the onset of the COVID-19 pandemic. Jonathan Craig, senior executive vice president and head of investor services at Charles Schwab, told Cointelegraph:
“We’ve seen tremendous growth and engagement among individual investors over the past year as a result of lower trading costs, new products and services aimed at greater ease and accessibility, and the investing opportunities presented by market volatility.”
Perhaps fearful of inflation and monetary debasement, more retail investors appear keen to secure suitable hedges against economic uncertainty. In a conversation with Cointelegraph, Jay Hao, CEO of crypto exchange giant OKEx, identified the COVID-19 pandemic as a significant trigger for the current retail investment surge, adding:
“The pandemic has probably sped up crypto adoption due to the Federal Reserve massively pumping money into the market over last year to save the U.S. economy. […] With more platforms having granted retail investors direct access to invest in equities, we are seeing a democratization of the investment space and more power in the hands of the people.”
The coronavirus continues to have a significant impact on personal finances ranging from salary cuts to furloughs or even outright job losses. Thus, it is perhaps unsurprising to see more people becoming incentivized to build emergency income sources outside the traditional 9-to-5 structure.
Throwing Crypto Into The Mix
As previously stated, Robinhood accounted for over 60% of the new investors added by U.S. brokerages in 2020. This figure puts the retail trading platform in a suitable position to determine newbie investment trends within the last year.
According to a blog post on the company’s website earlier in April, the trading platform declared that its customers were leading the vanguard of the demographic change in the financial markets. In the aforementioned Charles Schwab survey, the investment giant called this new investor class “Generation Investor,” or Gen I.
Gen I has a median age of 35 years, which once again positions Millennials and Gen Z at the heart of this investment demographic shift. Numerous surveys have also put this particular age range as being the most interested in cryptocurrencies, as Hao put it:
“Cryptocurrency is probably one of the first financial instruments that has drawn attention from millennials, who have the capability to further vitalize the market. From popular TikTok accounts to memetic crypto marketing, these communities and their sophistication in producing action bring on a new scene of user-behavior to altcoins.”
Earlier in April, crypto exchange OKEx published a joint research study with blockchain analytics service Catallact showing the impact of retail interest in the crypto market. According to the report, retail activity in the Bitcoin (BTC) market outpaced that of institutional players in Q1 2021.
Such is the growth in retail cryptocurrency trading activity that Robinhood has reported that 9.5 million customers traded crypto on its platform in Q1 2021 alone. This figure represents a sixfold increase in the number of customers recorded by the company in Q4 2020.
Other investment and payment services have also begun onboarding crypto clients to take advantage of the current retail trading hype. The likes of Venmo and PayPal have broken from previously anti-crypto stances to adopt friendlier dispositions to digital currencies amid the potential for massive revenue streams.
Outside the U.S., a resurgence in retail crypto trading has significantly impacted South Korea’s financial markets. Firms invested in cryptocurrency exchanges are experiencing massive stock price growths. K Bank, the major banker for Upbit — one of South Korea’s largest crypto exchanges — has enjoyed a sharp reversal of fortunes. The bank has recovered from the $89 million in losses recorded in 2019 to be within a year of possibly pursuing a public listing.
What About Financial Literacy?
In February, Thailand’s finance minister Arkhom Termpittayapaisith bemoaned the surge of speculative crypto investment among retail traders in the country. At the time, the government official warned that the trend could have dire implications for the country’s capital market.
Thailand’s finance minister is not alone in espousing such sentiments as similar remarks have emerged from government officials and financial regulators across the world. In January 2021, the United Kingdom’s Financial Conduct Authority warned that crypto investors were liable to lose all their money owing to the high level of risk in the market.
Apart from volatility and other well-worn anti-crypto rhetoric, issuers of these cryptocurrency crash portents often point to the presumed ignorance of retail investors about the intricacies of the investment market. Indeed, Thailand’s Securities and Exchange Commission came under significant backlash from the Thai crypto community when it sought to introduce investor qualification requirements for cryptocurrency investments back in February.
Hong Kong is also another jurisdiction looking to limit retail involvement in crypto trading amid reports of a blanket ban. Like the Thai proposal, Hong Kong regulators are looking to enact a minimum income threshold for cryptocurrency investments, which could disqualify up to 93% of the city’s population.
There is perhaps no better scale for examining financial literacy arguments than the GameStop saga from earlier in the year. A horde of retail investors leveraged the power of social media engagement to counter shorting of GME stock.
Save for regulatory paternalism that saw stock market gatekeepers unfairly favoring the hedge funds on the losing side, the retail traders on r/Wallstreetbets may probably have run the naked shorters to the ground. It could be argued that the GameStop drama proved financial literacy is not the issue for retail traders but rather the undemocratized nature of the legacy financial system.
The Charles Schwab survey offers a glimpse of the extent to which newbie investors are going in terms of financial education and advice. In its published report on the poll, the investment firm revealed that about 94% of investors are keen to access more information and tools to conduct their own research.
Commenting on the investment mindset of newbie investors, Andrew D’Anna, senior vice-president at the company’s retail client experience division, stated: “Now that they’ve dipped their toes into investing, Gen I is eager to keep learning and evolving its strategies to successfully build wealth for the long-term.”
According to D’Anna, the company’s survey offers proof that Gen I investors are not all about short-term risk-taking for huge gains. Instead, the emerging generational change in the financial markets led by Millennials and Gen Z are keen to acquire guidance and education to make informed decisions.
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Your Questions And Comments Are Greatly Appreciated.
Monty H. & Carolyn A.Go back


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Ever have an urge to watch something like “30 Incredible Pug Videos” on your living room TV screen? Jukin Media is about to make that possible.
The UGC giant will bring two of its most popular brands to the home screen via a deal with OTT service Xumo. The deal includes the squeal-inducing cuteness of The Pet Collective (Don’t believe us? See the photo above). It also encompasses the positive-vibe channel, People Are Awesome.
Together, the two brands total more than eight million followers, with 325 million monthly views online, mostly through YouTube, according to Jukin.
These aren’t the first Jukin properties to launch on Xumo — FailArmy, which specializes in the most cringe-worthy human disasters, launched on the service in March. According to Stefan Van Engen, SVP of content programming and acquisitions at Xumo, the channel has consistently been at the top of the platform’s rankings in terms of views.
“We have no doubt these two (new) channels will perform just as well and, most importantly, will bring our users incredibly inspiring and fun-loving videos to stream at home and on-the-go,” Van Engen said in a statement.
Xumo is a multi-channel OTT service that operates through smart TVs through partnerships with manufacturers LG, Vizio, Panasonic and Funai
According to a company release, it reaches nearly 20 million devices in the U.S. But for those who would rather watch the heartwarming exchanges or mischievous cats on the small screen, Xumo is set to unveil a mobile version of its service for iOS devices at the upcoming VidCon (June 23-25) in Anaheim, CA.


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There's even an upscale French-Vietnamese restaurant with an enormous screen
Here's what you need to know about this BOGO offer.
Many legendary shops were in business decades before the Giants, A's migrated West
From Asparagus Nights to Churro Days, this is how you celebrate baseball, minor-league style.
Decision made to protect humpback whales from getting entangled in fishing lines
And 2 of these will make you rethink your definition of a sports bar
Also new: Adventurefuls, a brownie-inspired cookie, will join the lineup when sales start Feb. 1
Fleets contend with gnarly weather to haul in the first local crustaceans of the season
Sandwiches will make their debut at tonight's Calgary Flames game
Humpback whales have migrated from those waters, but remain a strong presence off the Bay Area coast


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Microsoft needs a new leader and complete renovation, said Steve Ballmer
Microsoft CEO prepares for her departure from the company, in which he came a few decades ago. Speaking about the reason for his departure in an interview with The Wall Street Journal, Ballmer said that Microsoft required a visionary leader who is able to handle all the new challenges that stand in the way of the giant.
«I may have become a symbol of the past. I have to move on.» — admitted Ballmer edition. «As much as I loved everything I do, I understand that in the new era, Microsoft must come with a new leader who can accelerate the modernization of the company.» The Board of Directors was not satisfied with the pace with which Ballmer tried to reach out to key markets – smartphones and tablets – this was the main reason for his departure.
The new direction Microsoft is obvious, but the company is still missing people who can get things done. While Microsoft continues to maintain a strong position in the software market, the company needed to shake up the management structure and focus on building mobile devices and online services, to guarantee stability in the long term.
The current CEO of Nokia, whereby the Finnish smartphone maker and has agreed to merge with Microsoft, is one of the favorites for the open managerial position in the company. However, investors are not enthusiastic about his candidacy because of the rumors that Stephen Elop intends to close Bing and sell the Xbox division.
The newly elected leader will become the third Microsoft CEO since the company’s founding. Ballmer joined Microsoft in 1980, Today it is the second largest shareholder of the company from Redmond.
: Phone Arena


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New Delhi : Myntra’s leadership team stepped out to delight customers by taking part in delivering to customers who had placed orders during the End of Reason Sale.
The first day of India’s biggest fashion shopping sale has seen 25 million visits to Myntra platforms and placement of over three million orders.
Over 2000 Indian and Global fashion brands are on sale at the country’s largest fashion shopping festival, ‘ End of Reason Sale’ (EORS) by Myntra.
With over 25,000 curated styles, designs and brands, riding on attractive discounts of up to 80 percent, EORS is being held on July 2nd and 3rd.
The fourth edition of EORS is set to break all previous records with respect to scale, discounts on offer, number of brands, expected revenue and acquisition of new customers.
Shoppers on Myntra can now enjoy shopping on the mobile app, mobile web and desktop site.
EORS has emerged as the most sought after fashion sale event in the country and is one of the most important properties of Myntra.
EORS breaks away from the traditional end of season sale format which usually last for six to seven weeks.
In the span of just two days, shoppers can avail the best of fashion from the widest catalogue at prices never heard of. (ANI-NewsVoir)


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Google’s ability to operate any kind of Internet business in the world’s largest market hangs in the balance as China weighs whether it will renew Google’s Internet license, which officially expired June 30.
China has expressed dismay at Google’s rerouting of search traffic to an uncensored site in Hong Kong, but has not yet disclosed whether it will try to shut down Google in China. “Given that they’ve not said anything so far, it probably indicates that decisions at fairly high levels are involved and that [the Chinese government] understands that whatever decision gets made is going to get a lot of attention globally and will send a signal that goes well beyond China’s relationship with Google,” says Rebecca MacKinnon, a China Internet expert and a visiting fellow at Princeton University’s Center for Information Technology Policy.
“Their inclination will be to punish Google so that everybody stays in line,” MacKinnon adds. “But on the other hand, not renewing the license would send a broader signal about just how open the market is, or isn’t, in China. You’ve got President Hu Jintao getting ready to travel to the U.S. for a summit. A refusal of Google’s ICP [Internet Content Provider] license would certainly add to the pile of negatives in the relationship, so I imagine they are weighing that.”
In January, Google announced that, along with several other companies, it had been the target of sophisticated cyber espionage originating from China–and that it would stop censoring search results related to a variety of political topics, as China requires of all Internet companies operating in the country. The company followed through on March 22, when it began redirecting visitors from Google’s China site, google.cn, to google.com.hk, its Hong Kong-based site, where Google offers uncensored search in simplified Chinese. (Some search terms are still blocked by Chinese network filtering.)
China called this approach “unacceptable,” and last week, with the ICP license renewal looming, Google shifted gears. It made Google.cn a landing page that seems to offer the usual field to enter search terms–but clicking anywhere on the page takes visitors to Google.com.hk. “This new approach is consistent with our commitment not to self censor and, we believe, with local law,” Google’s senior vice president and chief legal officer, David Drummond, wrote in a June 28 blog post. “We are therefore hopeful that our license will be renewed on this basis so we can continue to offer our Chinese users services via Google.cn.”
One researcher says the change, though seemingly subtle, is significant enough to possibly cost Google some users. “Using Google from Shanghai, I noticed the extra click,” says Guobin Yang, a Columbia University sociologist. “One extra click may sound easy, but it is a huge deal for users, and I’m pretty sure Google will lose users because of this.”
As of Friday, there was no reaction from China on this move. Chinese authorities can shut down any website that fails to obtain or renew an ICP license–issued by the Ministry of Industry and Information Technology.
Google has much at stake. Its online offerings in China include a video search service (video.google.cn), online shopping (www.google.cn/gouwu), maps (ditu.google.cn), translation (translate.google.cn), and other services under the Google.cn domain name. “Discontinuance of Google.cn will mean discontinuance of these services, and therefore the real end of Google’s China presence.
Yang said from Shanghai that such a departure would be a big deal precisely because the Chinese Internet market appears to have such a strong future. “Having just come from a panel of speakers from major Internet businesses in China, I saw how optimistic Chinese high-level Internet entrepreneurs are about the Chinese market. They are confident about the dynamism of the industry. Who would want to leave such a market?”
If China renews Google’s license, the government could still block Google.com.hk, which would force users to obtain special circumvention software, such as Psiphon or Tor, to use proxy computers outside of China. Or, if China cancels the license, Google.cn would no longer function, and Chinese users seeking to use Google search would have to directly type google.com.hk (or any Google home page from a different country) into their browser. If that home page was blocked, they’d have to use circumvention software to reach it.
Canceling Google’s Internet license could also affect the pace of innovation in China. “If Google can’t compete in that market, it makes the market less competitive,” MacKinnon says. “It may well strengthen Chinese players in the short term, but it also results in a somewhat more closed and less global environment, which some people who are quite prominent in the Chinese Internet industry have warned may, in the long term, affect innovation in China.”
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Hedge fund managers have been very active this week, with several hedge fund gurus revealing important moves recently. Carl Icahn, Ken Griffin, Steven Cohen and others have reported the newest changes to their equity portfolio. Here is a summary of the biggest moves disclosed in the last couple of days.
Carl Icahn has continued adding to his investment in Nuance Communications Inc. (NASDAQ:NUAN). His fund, Icahn Capital LP, has revealed an increase in its stake from 52.4 million to 58.9 million shares, which account for 18.72% of the company’s common stock. Icahn has opened this position during the first quarter of 2013 and has been increasing it throughout 2013. Nuance offers voice and language software products worldwide. For the year ended September 30, 2013, the company posted revenues of $753 million and a loss per share of $0.37.
Ken Griffin and Citadel Investment Group are optimistic about Finisar Corporation (NASDAQ:FNSR). In a recent filing, Citadel revealed the addition of 2.3 million shares, taking its stake to approximately 5 million shares, or 5.2% of the company’s common stock. Finisar stock has surged 26% so far in 2013 and has a trailing Price to Earnings (P/E) ratio of 73.53. The company is to release its financial results for the latest quarter today, December 5th, after market hours.
Steven Cohen and SAC Capital have boosted their stake in The Fresh Market Inc (NASDAQ:TFM). Cohen and SAC now hold approximately 2.4 million shares, valued at $96.7 million. Their holding accounts for 5.1% of the company’s common stock. The Fresh Market Inc is a grocery retailer operating in the United States. The company has a market cap of $1.97 billion and the stock has a trailing P/E ratio of 28.33. For the three months ended July 28, 2013, The Fresh Market posted sales of $354 million and Earnings Per Share (EPS) of $0.32.
Mario Gabelli added to his fund’s position in Nathan’s Famous, Inc. (NASDAQ:NATH). GAMCO Investors has recently reported holding 592,600 shares, or 13.26% of the company’s shares outstanding. So far in 2013, Nathan’s Famous stock has advanced 47% and is trading at a trailing P/E ratio of 26.44. During the previous quarter, the company registered revenues of $23.6 million and earnings per diluted share of $0.57.
Last but not least is T2 Partners run by Whitney Tilson. According to a recent filing, Tilson has closed his funds position in dELiA*s, Inc. (NASDAQ:DLIA). An apparel retail company, dELiA*s has a market cap of $49 million and does not pay a dividend. Third quarter financial report revealed the company registered revenues of $33 million, down 29% from Q3 of 2013, and a loss per share of $0.40.


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Indian government orders Apple, Google to delist popular game BGMI from app stores – TechCrunch
Why, hello there, and welcome back to another installment of the Daily Crunch! It’s lovely to have you here with me. Also, give Freelance Whales a listen. I discovered the band when I was going to play a different (also excellent) song, Freelance, for a friend. Gotta love a lucky coincidence. This is also, incidentally, how I discovered the band Queensrÿche — I was looking for some Freddie Mercury, but ended up with a new heavy metal band to love. What’s your favorite accidental discovery?
Oh! And did you know — our Found podcast debuted its new mini-sodes, where they check in with past guests to see how founder life is going. In the first installment, Maggie Stamets speaks with our very first guest: Iman Abuzeid from Incredible Health, which helps nurses get connected to better jobs and career growth opportunities.
Okay, enough with the asides, we have serious tech bidniss news to share. Let’s goo~oooooo — Haje
The TechCrunch Top 3
Startups and VC
Co-founder of Evabot Rabi Gupta argues there’s “a lot of clutter” in the corporate gifting space. He argues that many vendors do little more than send company-branded swag like T-shirts and thermoses, which don’t exactly foster loyalty, Kyle reports. The company announced that it raised just under $11 million to make corporate gifting less of a mess.
We are now reaching a sort of tipping point where we will see many more commercial applications of natural language processing hit the market. A gold rush has begun of startups trying to build on this technology, with an arms race developing between the large language model providers, Mike reports.
Go on then, a few more:
Pitch Deck Teardown: Alto Pharmacy’s $200 million Series E deck
If your company raises a $200 million Series E, it’s fair to debate whether you can still call it a startup.
Still: Convincing investors to part with enough money to produce your own sequel to “The Gray Man” is an impressive feat, which is why we were eager to review the deck that helped Alto Pharmacy close such a large round.
(TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can sign up here.)
Big Tech Inc.
Instagram announced today that it will start prompting a random assortment of people on its platform in the United States to participate in an optional survey about their race and ethnicity, Aisha reports. The company says the survey will help it to better understand different experiences people may have on Instagram in order to ensure that the platform is fair and inclusive for all users.
According to a report, developers on the western side of London, U.K., may be prevented from working on larger multitenant properties due to the state of the electricity grid, and strains caused by nearby data centers, Paul reports. Bad news for people who had hopes that London might hit its growth trajectory of 65,000 new homes per year.
Yesterday, Ford reported $40+ billion in revenue, a 50% increase from the same period last year. The company also reported it was building 14,000 electric vehicles per month. Wall Street was positively surprised, sending shares up by as much as 6% in after-hours trading, Rebecca reports.
Grab a few more, why dontcha:
- Google Pixel Bud review: It’s not hard to imagine the Google Pixel Buds Pro really impressing, Brian writes, but he’s disappointed that they seem to be a few years behind the curve.
- We’ve Already Come Too Far to End This Now: We are beyond psyched to see what interactive gaming company Immersive Gamebox will do with the plans it has to build a Squid Game experience with Netflix, Lauren reports.
- Sing me the money: Aisha reports that Snap launched a creator fund, which will start awarding independent musicians up to $100,000 per month.
- Skipping a generation: In China, smartphone sales drop sharply, reports Brian. Virtually all of the major players took a big hit compared to this time last year. Vivo, Oppo, Xiaomi and Huawei all saw double-digit drops from Q2 2021.
- You get a lick of paint, too: Gmail rolls out its latest Material You redesign and search improvements to all users, Ivan writes.
- Meta as well face it, you’re addicted to ads: For the first time in its history, Meta posts its first quarterly revenue decline, Amanda reports.
- Pass the gapple sauce: Apple has hired a 20-year veteran of supercar maker Lamborghini to work on the tech company’s not-so-secret electric autonomous vehicle program, Kirsten writes.


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Not secret that
What does it mean
Nikkei reports that Huawei has already notified its suppliers of reduction of orders in this year. So, by according to media reports, Huawei will order components for 70–80 million smartphones, and it’s on whole year.
For comparison, in last year, the Chinese company sold 189 million devices, then is in
In addition, the company plans to revise its range by reducing the number of models. The thing is that
By in the opinion of suppliers, this may lead to further reduction in production — to 50 million pieces. At this rate, the independent brand Honor has every chance of overtaking its former parent company.


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Updated at 4:08 a.m. Eastern.
Leaders of 20 major economies on Friday refused to endorse a U.S. push to get China to let its currency rise, keeping alive a dispute that has raised the specter of a global trade war.
At the end of their two-day summit, the leaders of the Group of 20 rich and developing economies - including President Barack Obama and China's Hu Jintao - issued a watered-down statement that only said they agreed to refrain from "competitive devaluation" of currencies.
Such a statement is of little consequence since countries usually only devalue their currencies in extreme situations like a severe financial crisis. Using a slightly different wording favored by the U.S. - "competitive undervaluation" - would have shown the G-20 taking a stronger stance on China's currency policy.
The crux of the dispute is Washington's allegations that Beijing is artificially keeping its currency, the yuan, weak to gain a trade advantage. But the U.S. position has been undermined by its own recent policy of printing money to boost a sluggish economy, which is weakening the dollar.
On the bigger picture, Obama said Friday the global economy was "back on the path to recovery," while he and his G-20 summit partners must work further to resolve differences like the currency spat with China and trade imbalances.
The G-20's failure to adopt the U.S. stand has also underlined Washington's reduced influence on the international stage, especially on economic matters. Obama alsoa free trade agreement this week with South Korea.
Obama told a news conference that China's currency is an "irritant" not just for the United States but for many of its other trading partners.
"China spends enormous amounts of money intervening in the market to keep it undervalued so what we have said is it is important for China" to follow a market-based system, Obama said. "We have to understand that this is not solved overnight. But it needs to be dealt with and I am confident it can be."
The joint statement avoided the words "competitive undervaluation," which was a reference to China's currency policy that had been inserted into a draft of the statement by officials during pre-summit negotiations.
The dispute over whether China and the United States are manipulating their currencies is threatening to resurrect destructive protectionist policies like those that worsened the Great Depression in the 1930s.
The biggest fear is that trade barriers will send the global economy back into recession. A law the United States passed in 1930 that raised tariffs on imports is widely thought to have deepened the Great Depression by stifling trade.
The G-20 leaders pledged to move toward more market-determined exchange rate systems and enhance exchange rate flexibility. Although directed against China, the statement leaves significant room for interpretation since the language is vague and does not impose any timeframe for enforcing a market-determined exchange rate.
The U.S. says a higher-valued yuan would make Chinese exports costlier abroad and make U.S. imports cheaper for the Chinese to buy. It would shrink the U.S. trade deficit with China, which is on track this year to match its 2008 record of $268 billion, and encourage Chinese companies to sell more to their own consumers rather than rely so much on the U.S. and others to buy low-priced Chinese goods.
Other countries are irate over the Federal Reserve'sinto the sluggish American economy. They see that move as a reckless and selfish scheme to flood markets with dollars, driving down the value of the U.S. currency and giving American exporters an advantage.
Some critics warn that U.S. interest rates kept too low for too long could inflate new bubbles in the prices of commodities, stocks and other assets. Developing countries like Thailand and Indonesia fear that falling yields on U.S. government bonds will send money flooding their way in search of higher returns. Such emerging markets could be left vulnerable to a crash if investors later decide to pull out and move their money elsewhere.
Friday's statement is unlikely to immediately resolve the most vexing problem facing the G-20 members: how to fix a global economy that's long been nourished by huge U.S. trade deficits with China, Germany and Japan.
Exports to the United States powered those countries' economies for years. But they've also produced enormous trade gaps for the U.S. because Americans consume far more in foreign goods and services than they sell abroad.
Still, the leaders vowed to fight protectionism.
"Recognizing the importance of free trade and investment for global recovery, we are committed to keeping markets open and liberalizing trade and investment," the joint statement said.
The G-20 leaders also said they will pursue policies to reduce the gaps between nations running large trade surpluses and those running deficits.
The "persistently large imbalances" in current accounts - a broad measure of a nation's trade and investment with the rest of the world - would be measured by what they called "indicative guidelines" to be determined later.
The leaders called for the guidelines to be developed by the G-20, along with help from the International Monetary Fund and other global organizations, and for finance ministers and central bank governors to meet in the first half of next year to discuss progress.
"We don't have an agreement on what the criteria are, but we agree that there must be criteria," French President Nicolas Sarkozy, who will host the next G-20 summit in November 2011 in Cannes.
The language in the statement was broadly similar to what G-20 finance ministers and central bank governors agreed to last month, though with the new twist of a timeframe for progress.
"There's no simple solution to solve the problem of current account imbalances," Sarkozy said.


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judgecorp writes: Steady progress on inductive wireless charging. There are now certified prototypes of chargers for Blackberry and iPhone devices, that meet the Qi specification of the Wireless Power Consortuum, which was announced last year. The spec has advanced from version 0.95 to 1.0, too.
"Take that, you hostile sons-of-bitches!"
-- James Coburn, in the finale of _The_President's_Analyst_


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So two percent of his audience produced four times the revenue. Disclaimer – This portal is banned in India. The credits received by answering surveys can be used for purchasing apps or other content on Play Tue, 27 Mar A potential upgrade taking place behind the scenes could send the Bitcoin price to unprecedented highs.
Bitcoin Gets a Made-For-TV Makeover
In other words, Bitcoin historically has traded at 1. Overall, Capuano outraised Pressley by nearly Fri, 6 Jul The latest from Fundstrat is a chart based earn the breakeven price for the Bitcoin miners. Her campaign announced the numbers Thursday afternoon, ahead of the July 15 filing bitcoin. For now, improvements to Bitcoin micropayments are still needed for PopChest to reach its full potential. Some bitcoin creators use YouTube as sort of an advertisement for their own content portals.
The top and bottom of the range are projections of the shows and lower bound lines the 1x and 3.
Mon, 9 Jul The shows bound of the channel is 3. For a primary challenger against a veteran congressman, that’s some decent cash. On PopChest, users would be paid in bitcoins, which means much more flexibility is offered in terms of what earn be done with the earnings..


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Customers who need flight information or want to make changes to travel plans The company confirmed to CNN Saturday that it can no longer contact Frontier Airlines and speak to an agent.
Starting last week, the ultra-low-cost carrier said it had transitioned to all-digital communications. Customers seeking assistance or information from the carrier must transact With online chatbot, social media channels or WhatsApp. Those who need to speak to a live agent can use the chat tool 24/7.
“We’ve found that most customers prefer to communicate through digital channels,” company spokeswoman Jennifer F. de la Cruz said in a statement, noting that they can now receive information “as quickly and efficiently as possible.”
Frontier is known for its cost-cutting measures, such as charging for advance seat assignments and hand baggage that exceeds the carrier’s size rules. (Checks its dimensions when boarding).
Customers calling the customer service phone number are now Welcomed with an automated message saying: “At Frontier, we offer the lowest fares in the industry by operating our airline as efficiently as possible. We want our customers to be able to operate efficiently too, which is why we make it easy to find what you need at Flyfrontier.com Or on our mobile app. We also have a chat service available 24/7.”
Its low-cost competitors, Spirit Airlines and Allegiant Airlines, still use call centers staffed by direct agents.
No wonder Frontier wants to do away with customer service over the phone. The Department of Transportation said in November that it would impose $7.25 million in fines on six airlines for “extreme delays” in providing refunds to passengers since the start of the Covid-19 pandemic. The only US carrier was Frontier, which the agency fined $2.2 million.
Frontier recently launched an annual unlimited airline pass that’s now $799 — though it does come with caveats, like blackout periods centered around the holidays. Customers also cannot book a domestic flight more than one day in advance.
It is not the only carrier without a call center for its customers. Breeze Airways, the airline founded by JetBlue’s David Neilman, hasn’t even done that Have a call center phone number. Customers are advised to contact the carrier via Facebook Messenger, text or email or they can make changes to their flights on its app and website.
— CNN’s “Geneva Sands” and “Pete Mountain” contributed to this report.


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EA Canada is developing the latest UFC title for the publisher.
The next instalment in the Ultimate Fighting Championship series will be developed by EA Canada, the team behind EA's Fight Night franchise, the publisher confirmed.
The game will be worked on by a new division within the studio, dubbed the Fighting Team. This will be the first UFC title published by EA since it received the rights to the franchise from THQ last month for an "undisclosed cash payment."
This follows last month's Electronic Arts E3 2012 press briefing, in which Ultimate Fighting Championship president Dana White announced a deal between both companies for a multi-year, multi-product partnership
It is unclear which when EA's newest title will release, and how this may affect the Fight Night series.


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Bitcoin is a digital currency that allows anyone to transact money electronically, without a central bank.
It’s the equivalent of an electronic bill.
It can be traded anywhere, but the supply and demand is controlled by the computers on your computer.
For a long time, this has meant it could be used as a payment system, but its popularity has waned, as governments have cracked down on it.
That could soon change.
This week, the Securities and Exchange Commission voted to approve bitcoin trading in some securities.
It will allow for the sale of the digital currency in more than 30 countries, including the U.S. This could be a game changer for the financial industry.
It could make bitcoin a global currency.
The technology has never been so popular in history.
Its use is so widespread, and its value so high, that the SEC says it could become a global reserve currency.
“It’s one of those things that you think will happen over time, but it doesn [always],” said Scott Baughman, chief executive officer of bitcoin exchange Coinbase.
“I’m not predicting this to happen overnight.
It has a long way to go before it becomes a dominant force.”
But he said it’s a game-changer, for the industry.
“The more it’s used, the more it’ll evolve, and the more people will use it, the better it’ll be for everyone,” he said.
The SEC said it has not decided if it will allow the use of bitcoin for any purpose other than as a medium of exchange.
That’s a significant development, given that bitcoin is so new, and so unregulated.
Its volatility and lack of regulatory oversight are reasons why its value has been skyrocketing in the last two years, thanks to its popularity.
But the SEC has never approved bitcoin as a currency.
It only allowed the sale and trading of bitcoin in the U, U.K. and Germany.
There are now more than 3,000 bitcoin trading platforms in more then 200 countries.
The United States is still one of the largest markets for bitcoin, and it’s the world’s largest trading nation, with more than $4 trillion in transactions last year.
The vast majority of those transactions were made in the United States.
That means bitcoin is currently worth more than the $20 trillion that the U


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The Chelsea Flower Show will be streamed live in the US for the first time this year through BritBox, the new streaming service from BBC and ITV.
The world’s most prestigious flower show is heading stateside and will be exclusively broadcast LIVE in the US with coverage beginning on May 20 until May 24.
BritBox is a digital video subscription service offering the largest collection of British TV in the US and Canada, including iconic favourites, exclusive premieres, and current series and soaps, mostly available within 24 hours after their UK premiere. BritBox is also offered as an Amazon Channel for Prime members on all Amazon Video capable devices and platforms, and online.
'The RHS Chelsea Flower Show is truly a momentous occasion in Britain and for the first time ever US viewers will be able to see it in almost real time through BritBox’s NOW feature,' said BritBox President, Soumya Sriraman. ‘Being able to provide our community 5 days of exclusive LIVE access to this internationally recognised and celebrated show is an exciting moment for our community.’
For the first time this year at Chelsea, Kate Middleton, the Duchess of Cambridge, has co-designed the RHS Back to Nature Garden in collaboration with Davies White Landscape Architects. The feature garden will highlight the benefits of the great outdoors and inspire communities to get back to nature.
Another highlight this year is the return of last year’s People’s Choice winner Mark Gregory, who is creating a second Welcome to Yorkshire Garden. Mark has been blogging exclusively with us at HouseBeautiful.com/uk as the build gets underway for the most famous gardening event of the year.
US viewers will also get to see celebrities and members of the royal family, including the Queen, arrive on VIP day, and learn new tips and trends about the latest innovations in the horticultural world, all while getting inspiration from the spectacular gardens built on the show ground.
Sue Biggs, RHS Director General, said: ‘For more than a century the RHS Chelsea Flower Show has been the world’s most famous gardening event so we are delighted that coverage of the show will be broadcast live to audiences in the US for the first time thanks to Britbox. 2019 is a vintage year for the Show with a glittering line up of designers and some fabulous horticultural highlights which includes the RHS Back to Nature Garden co-designed by HRH the Duchess of Cambridge.’
The Rich Brothers, Angellica Bell, Monty Don and Joe Swift are among the long list of presenters across BBC One and BBC Two for RHS Chelsea this year, with Mary Berry, Jo Whiley, and Chris Bavin confirmed as guest presenters.
The Chelsea Flower Show is the latest British lifestyle programme from BritBox, adding to a line-up that already includes Gardeners' World, Springwatch, Escape To The Country and Countryfile Spring Diaries.
The Britbox deal also includes coverage of the 2020 Chelsea Flower Show as well as rights to the Royal Horticultural Society’s additional prestigious events including the Chatsworth Flower Show (June), Hampton Court Palace Garden Festival (July) and the Flower Show Tatton Park (July).
Elsewhere, BritBox is expected to launch in the UK in the second half of this year.


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IT’S all hands on deck at Sunderland Royal Mail delivery office.
Today is the recommended last day to send first-class mail, and the office, which delivers to about 77,000 doors on Wearside, is working to its full capacity – with all of its 280-strong workforce in.
“Sunderland delivery office is very busy dealing with a huge amount of Christmas mail,” said delivery office manager Jacki Whittle.
“Our postmen and women are working very hard to deliver a first-class Christmas for our customers.
“Royal Mail has extra deliveries and collections right up to and including Christmas Eve, and most of our delivery offices have extended hours to help customers pick up parcels.”
The growth of internet shopping has sparked an increase in the amount of parcels which pass through the office in the run up to Christmas – with the trend more noticeable this year than ever before.
“This is our busiest time of the year and we are also seeing many more parcels as people shop online.
“Ten years ago we had concerns regarding the internet and how it would affect us. However, the volume of mail it’s producing can only be a good thing for business.”
Despite the increased workload and extra pressures during December, the centre’s staff remain in fine festive spirit.
Bronwen Gleghorn, 52, from Silkworth, said: “The extra work is expected at this time of year.
“Everybody just wants to make sure that everything gets delivered and all the little kiddies get their Christmas boxes through on time.
“It’s lovely when you walk out of here on Christmas Eve and the office is clear – it’s a fabulous feeling.”
Martin Youern, 47, from Hylton Castle, added: “We come in early to make sure everything gets done on time, and we’re all up to date at the minute.”
Due to the need for specialism, and for security reasons, the office employs no additional seasonal staff to cope with demand.
The final recommended posting day for Special Delivery items is Saturday December 22.


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ATLANTA--(BUSINESS WIRE)--Eighty percent of marketers say email is core to their businesses, according to Salesforce. Most importantly, intelligent email marketing and personalization drives notable improvement in revenue. Given the significant role intelligent email plays in retail marketing, Springbot has developed an enhanced set of email functionality to support eCommerce merchants in driving sales and retaining existing customers. The leading eCommerce marketing platform provider will demonstrate the newly-added features of its platform at Magento Imagine 2017.
Springbot’s new Product Recommendations feature combines the platform’s existing email automation solution and its analytics engine to deliver data-driven product recommendations to eCommerce shoppers. The automated feature for triggered emails recommends products based on modeling a merchants purchase data combined with what a consumer browses or purchases.
This functionality was designed to enhance the platform’s existing set of email capabilities that empowers eCommerce retailers to efficiently drive revenue. According to DMA, triggered emails generate more than 75 percent of email revenue over one-size-fits-all marketing newsletters or campaigns. Furthermore, Experian indicates that personalized emails deliver a 6x higher conversion rate.
Springbot is also demonstrating two additional features at Magento Imagine:
- Onsite email capture, which enables eCommerce retailers to convert anonymous site traffic into email subscribers via advanced signup; and
- Advanced segmentation and performance reporting functionality which allows for personalized email.
Springbot also is offering a new email campaign creation service. The service helps eCommerce retailers customize pre-populated templates, develop a messaging calendar, report on results and provide strategic recommendations.
“Email marketing remains core for marketers acquiring new customers, retaining and upselling existing customers,” said Erika Jolly Brookes, chief marketing officer at Springbot. “Our latest offerings takes the capability to the next level with intelligent, data-driven marketing actions for retailers. We’re looking forward to giving Magento Imagine attendees a first look at the power of personalization.”
Springbot closed a $10 million Series B financing round late last year and recently launched its free eCommerce Scorecard tool.
Imagine attendees interested in demoing Springbot’s platform, newest email capability or receiving an eCommerce Scorecard assessment can schedule a consultation with the Springbot team at the event.
For more information, please visit Magento Imagine booth #304 or http://www.springbot.com/magento-imagine-2017/.
Springbot delivers an eCommerce marketing platform to small and medium businesses that combines the power of marketing automation and marketing analytics. The cloud-based offering integrates and makes simple the data, content and multi-channel marketing tools (social, online, email, paid media). eCommerce retailers need to drive more traffic, conversions and revenue. Springbot helps BigCommerce, Magento and Shopify merchants grow their revenue by taking smarter, data-driven marketing actions.


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A Canadian government minister said Thursday that Prime Minister Justin Trudeau's administration is looking forward to trade negotiations with Donald Trump despite the USA president's recent ramp up of criticism of Canadian policy.
Canadian Prime Minister Justin Trudeau, who said he would be willing to renegotiate the agreement, told Bloomberg the US exported about $413 million in dairy products to Canada a year ago - while just $83 million in Canadian products came into this country.
USA officials say it is already impacting companies and farms in Wisconsin and NY - the country's second and third largest milk producing states, respectively - that rely on trade with Canada for significant revenue.
- Canadian dairy exports to the U.S.in 2016: $112.6 million.
Signing his executive order to probe foreign threats to the US steel industry, the president called his perceived trade imbalance with Canada as "a disgrace".
The complaints about Canadian trade barriers are bipartisan - especially on dairy matters, as Democrats in border states have backed the President's tough trade talk.More news: 'The Fate of the Furious' laps new films at box office
Canadian Prime Minister Justin Trudeau pushed back against Trump's comments Thursday, saying dairy is protected "for good reason".
When Trudeau visited the White House in February Trump praised the "outstanding" trade relationship between the United States and Canada, saying he would only be "tweaking" it going forward.
On energy, Canada provides the USA more than one-third of its oil imports - and does so under a stable, locked-in ratio guaranteed in NAFTA.
After milk, what other Canadian products are likely to be affected by President Trump's commercial prejudice?
The Dairy Farmers of Canada also updated their brand strategy to help consumers spot American ingredients on grocery shelves.
Meanwhile, Canadian dairy farmers had a lot of leftover, unused high-protein milk product that it could not sell.More news: Jeff Sessions Thinks His Racist Remark About Hawaii Was Pretty Darn Cute
MacNaughton says the facts don't bear out that Canada's policies are the cause of financial loss for US dairy farmers.
"We're not going to overreact", Trudeau said. "And I think trade lawyers agree".
And as for oil, she described the stable supply from Canada as a job-creating lifeblood of the USA economy.
Canada is not the problem for US dairy producers and will stick with its system of protectionist dairy quotas, Prime Minister Justin Trudeau says. During the election, Trump repeatedly attacked NAFTA, but always did so in reference to the US relationship with Mexico.
US policy-makers have decisions to make that will affect the northern neighbour on multiple fronts including: NAFTA, softwood lumber, the possibility of a USA import tax, and Buy American rules.
In a story April 19 about a U.S.More news: UID for cows: Opposition chides Centre's "mis-focused" policy
Canada has regularly said it's willing to renegotiate Nafta and that certain parts of the pact could use an update.


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Seat showcases Leon in augmented reality app
Seat, the Volkswagen-owned car marque, is launching an augmented reality app for visitors to its showrooms, to discover more about the new Leon.
Seat: unveils augmented reality app for Leon model
The free app by AnalogFolk uses the camera of an iPad, iPhone or Android-based device to highlight the Leon's features, ahead of its March launch.
The app is powered by Blippar technology, which overlays information, images and video when the camera is pointed towards markers placed around the Leon. For instance, when a user points the app towards the front of the car, the app reveals details of the Leon's full LED headlamps.
Chris Stevens, the head of marketing at Seat, said: "Given the advanced technology in the new Leon, the augmented reality experience is a perfect way for our customers to have a shared experience with our dealers in the showroom."
The car marque awarded its £12m UK advertising account to Grey London in November 2012 without a pitch. Its media planning and buying is handled by MediaCom.
This article was first published on campaignlive.co.uk
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The LA Times may be making a big deal out of nothing. ‘Cars’ won the inaugural Golden Globe award for animated feature. John Lasseter accepted the award and in his acceptance speech thanked everyone at Pixar, but left off Pixar’s long time distribution partners and new owner, Disney.
I would say this is less of a faux pas and more of an insight into the very strict line Lasseter is drawing between Pixar and Walt Disney Animation. Marketing and Consumer Products divisions are seldom mentioned in award speechs. At the time ‘Cars’ was made that’s all Disney was to Pixar. The merge came later. Sure, it would have been politic for Lasseter to mention Iger and WDFA. But award winners are only allotted a small amount of time for their speech. So Disney shouldn’t feel bad about not being mentioned.
What it does say is that Lasseter continues to keep a firm distinction between Disney and Pixar’s animated feature divisions. This is a good sign for those who want to see Walt Disney Feature Animation return to traditional hand drawn films.
LaughingPlace.com has a full list of awards won by Disney at the Hollywood Foreign Press Assn.’s ceremony last night.


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Sep 13, 2019 Newsdesk Latest News, Rest of Asia, Top of the deck
Genting Hong Kong Ltd, an operator of casino cruise ships and investor in Asian land-based casinos, says it has started construction of a second Global Class ship for its Dream Cruises segment. The new ship, likely to be delivered by 2022, is “intended for the fast-growing Asian market,” said the Hong Kong-listed company in a written announcement this week.
Genting Hong Kong is a subsidiary of Malaysian operator of casinos Genting Bhd.
The press release quoted the group’s chairman Lim Kok Thay (pictured left) as saying: “We are delighted that our comprehensive investments at the three shipyard locations are bearing fruits and we can already celebrate today the first steel cutting for another technologically advanced vessel for our shipping company Dream Cruises.”
He added: “Thanks to the use of artificial intelligence, Dream Cruises’ second Global Class ship will offer our guests a very interesting, modern and highly comfortable travel experience.”
Genting Hong Kong has been accelerating expansion plans for its cruise business and has developed a three-brand portfolio of cruise lines serving different parts of the market. The brands are: Crystal Cruises for what it terms the ultra-luxury segment; Dream Cruises for what it describes as the premium segment; and Star Cruises for what it defines as the “contemporary” segment.
The company is already building a first Global Class ship, due to be delivered in 2021. The vessels commissioned by Genting Hong Kong are being built by the MV Werften shipyards in Germany, an operation acquired by Genting Hong Kong in recent years.
The second Global Class ship is 342 metres (1,122 feet) long and 46 metres wide. Genting Hong Kong is preparing to lay the keel of the 208,000-ton cruise vessel on December 9, 2019.
With 2,500 passenger cabins accommodating over 9,000 passengers and a crew of 2,200, the Global Class ships “are the first vessels worldwide capable of carrying more than 10,000 persons,” according to Genting Hong Kong.
In August, the Hong Kong-listed firm said it had agreed to sell up to 35 percent of its Dream Cruises business to a subsidiary of TPG Darting Ltd. Genting Hong Kong said the disposal would “strengthen the group’s balance sheet and its ability to continue to expand its fleet in the cruise industry”.
In late July, the company appointed Michael Goh to the positions of president of its Dream Cruises business and head of international sales of Genting Cruise Lines.
The casino cruise firm said on August 30 that it had narrowed its first-half loss by 60.6 percent, to US$55.2 million.
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May 29, 2023Malaysia-based casino electronic games and services supplier RGB International Bhd posted a net profit of just above MYR10.5 million (US$2.3 million) for the three months to March 31, compared to a...
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”Even in the darkest moments of the pandemic, we’ve always said this market will come back strong… We’re big believers in Macau”
Chairman and chief executive of Las Vegas Sands


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Six Adobe Creative Cloud Android apps will be available on dozens of Chromebooks later this month, the San Jose-based company announced on Tuesday. In the coming weeks, the firm will release Photoshop Mix, Photoshop Sketch, Lightroom Mobile, Adobe Comp CC, Illustrator Draw, and Creative Cloud Mobile on a number of various Chromebooks that are already supporting or will soon support Android apps. Mark Rupert, Senior Director of Adobe Education, said that the company is happy to offer its free tools to students and educators who are bound to find them useful. The launch is expected to be a gradual one and as such, it has no firm release date attached to it, but all six of Adobe Creative Cloud apps listed above should be available for download from the Google Play Store on compatible Chromebooks by the end of the month. In fact, they're already available on select devices as of today.
Adobe said the decision to offer its mobile tools on Chromebooks is a part of its effort to improve education worldwide, citing an internal research according to which most students and educators in the West agree that technology enables more creative endeavors. As Rupert put it, "creativity [in education] is more important than ever," and Adobe is apparently willing to do its part in advancing education by providing free digital tools to students and educators. The company's decision to launch its creative Android apps on Chromebooks was also prompted by the fact that Chrome OS-powered devices have recently been gaining a lot of traction in both North America and Europe, allowing the company to reach a large audience. Adobe previously praised Google's decision to bring Android apps to Chromebooks, so its decision to take advantage of that support isn't surprising.
While Adobe's free creative tools aren't as robust as their desktop variants, they still offer a plethora of options and are regularly updated with new ones, making them more than adequate for an educational environment. Adobe Creative Cloud apps will also support styluses and cameras on compatible Chromebooks. Owners of the Google Chromebook Pixel (2015), ASUS Chromebook Flip, and Acer Chromebook R11 / C738T can already download Adobe's Android apps from the Google Play Store as of today.


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NEW YORK (MarketWatch)-- Apple AAPL, -2.34% has instructed suppliers to ramp up manufacturing of new iPads, according to a report Tuesday by Bloomberg. Mass production of a full-sized iPad with a 9.7-inch screen has already begun, and the latest iteration of its 7.9-inch iPad mini is expected to enter production soon and be available by the end of the year. The timing comes as Cupertino-based Apple prepares for the holiday shopping season and works to plug a weak spot in its tablet business. iPad sales slumped to 13.3 million units in the third quarter. Shares of Apple moved slightly higher on the news. Apple did not immediately respond for comment.
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Bullish Flexport will 'hit the ground running' as it integrates Shopify logistics
Volumes will increase for Flexport after it yesterday completed the deal to take over Shopify’s ...
Frustration with the World Trade Organisation’s (WTO) inability to advance towards a global set of rules for e-commerce has prompted a number of countries to push to develop such a framework among themselves.
Currently there are no universal regulations for e-commerce, leaving online merchants, their logistics providers and other partners to navigate a patchwork of bilateral and regional agreements.
At the WTO’s biannual conference in December, some 25 separate proposals on rules for e-commerce were on the table, but the 164 members failed to reach a consensus to consolidate these and make headway towards a universal regime.
This led to an agreement of 76 member states to move ahead on their own, which they announced at the annual WTO gathering in Davos last month. Their objective is to negotiate rules to cover the “trade-related aspects of electronic commerce”.
In a joint statement they declared: “We will seek to achieve a high-standard outcome that builds on existing WTO agreements and frameworks with the participation of as many WTO members as possible.”
The maverick group includes most of the world’s heavy hitters, among them the US and Canada, the European Union, Japan, Korea, Australia and Brazil. Between them they account for 90% of global trade.
Still, they are a minority within the WTO. Most members, especially developing nations, have expressed fears that global rules would tie the hands of national regulators and give multinational giants free reign.
There is also a considerable body of opinion that argues the WTO should focus on other issues first, such as agricultural subsidies in rich countries.
Among the countries opposed to global e-commerce rules are India and South Africa. The former demonstrated its determination to uphold national controls with the implementation of new e-commerce regulations on February 1.
These rules ban Amazon and Walmart’s Flipkart from cutting exclusive arrangements with sellers, offering deep discounts or holding any business interest in online merchants on their websites. By some estimates, the new rules, which were formulated in response to vocal complaints from domestic retailers, could slash Amazon and Walmart’s growth in India by half this year.
And even within the reformist camp there are deep fissures. China gave up its opposition to a global regime – allegedly due to the slowdown caused by the trade conflict with the US – but the government in Beijing wasted little time to signal its reservations, claiming that the joint statement in Davos “could have been drafted better” if time had permitted.
For one thing, Beijing’s stance on forced data localisation is at loggerheads with the other players, who want to eliminate it.
The EU may be a more proactive party on the road to global rules, but concerns over privacy protection set it on a collision course with the US and others which favour an unfettered flow of data.
The broadness of the issue itself harbours plenty of potential for clashes of opinion. Within the WTO, e-commerce is defined as “the production, distribution, marketing, sale or delivery of goods and services by electronic means”.
Some proponents argue this should include the elimination of duties on electronic transmissions, including streaming services, but it is not clear how broad support for this aspect is.
Horst Manner-Romberg, principal for parcel logistics research and consulting firm M-R-U, is not holding his breath that the maverick group will be able to establish common ground. If it does succeed, he expects that a regulatory framework would include rules on transparency in cross-border pricing. He also reckons that this would call for advance data submission for customs clearance.
Business interest groups have welcomed the push. Fifty-five organisations sent an open letter to WTO trade ministers urging governments to negotiate “an ambitious WTO framework that is commercially significant, negotiated in a timely fashion and can adjust to innovation and new technologies”.
Signatories include the US Chamber of Commerce, the Asia Business Trade Association, BusinessEurope, the Korea National Trade Association and the Singapore Business Federation, the Semiconductor Industry Association and the Global Express Association.
“The ability of businesses and individuals to participate effectively in the global economy today requires a modern e-commerce framework that facilitates customs clearance, digital transactions, transparency, trust, movement of information, and access to a variety of e-commerce platforms, payments technologies, communications, social media and marketing tools, productivity software, and shipping and logistics services,” they wrote.
UPS has also voiced its support for the initiative and “urges all trade ministers joining in the launch of negotiations of an e-commerce framework to work together in a timely fashion in negotiating a high standard rules-based trading system that will provide for efficient customs clearance, enable fluid digital transactions, establish transparency and trust and facilitate cross-border movement of information,” said CEO David Abney.
The initiative will likely widen the rift within the WTO and undermine further an organisation which has come under harsh criticism from some corners, led by the current US administration.
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If I’m successful here, I will find myself contradicting a good number of industry press releases sure to come over the next few weeks, touting how 2015 will usher in so many new and monumental changes in advertising, advertising technology, creativity, consumer behavior and the fortunes of start-ups. Here is my list of some of the “buzzier” things that I don’t believe will happen in 2015:
All of America won’t get on the Internet. Yes, I know that it’s hard for many to believe, but 100 million Americans don’t have access to broadband. Even in New York City, one-third of residents don’t have Internet connections in their homes. So, for as much as we expect everything offline to suddenly shift online, let’s not forget that a very large number of people in this country -- particularly lower-income Americans -- don’t have ready access to the Internet.
All advertising won’t go native, social, mobile, video-first and be bought programmatically on a multichannel-attributed marketplace platform in a digital un-front. I like the latest buzzwords as much as anybody else, and I’m all for a bit of evangelizing, but sometimes I worry that too many people actually believe what they print in their own press releases.
Ad technology won’t suddenly be the darling of Wall Street. A number of advertising tech companies went public over the past year or so, and a number of others are likely to go public -- or try to -- this next year. Unfortunately, the best ad tech companies that survived and thrived after the long-ago dot-com bust, including folks like DoubleClick, 24/7 Media and aQuantive, were bought by heavyweights like Google, WPP and Microsoft, and the small crop of current public ad tech companies aren’t big or mature enough or profitable enough to cause Wall Street investors to get frothy and create a hot sector. That’s not likely to change just by adding the SAS acronym to companies.
TV won’t die. One of my favorite topics. The 34 hours per week on average that Americans spend watching TV might drop by 10 or 15 minutes per week next year, but the medium is nowhere near extinction.
Neither will the upfront. Yes, I know. This past upfront was soft, and I suspect that next year’s will be too, given how soft the scatter market is now. However, having guaranteed, predictable access to massive amount of target audience in a high-impact media format is still way too important to way too many marketers for the futures market for buying TV shows to go away. We will have an upfront again next year, and the next, and the next …
What do you think won’t happen in 2015?


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via Sari Horwitz and Cecilia Kang, The Washington Post
One of the world’s largest file-sharing sites was shut down Thursday, and its founder and several company executives were charged with violating piracy laws, federal prosecutors said.
An indictment accuses Megaupload.com of costing copyright holders more than $500 million in lost revenue from pirated films and other content. The indictment was unsealed one day after websites including Wikipedia and Craigslist shut down in protest of two congressional proposals intended to thwart online piracy.
The Justice Department said in a statement said that Kim Dotcom, formerly known as Kim Schmitz, and three other executives were arrested Thursday in New Zealand at the request of U.S. officials. Two other defendants are at large.
Megaupload was unique not only because of its massive size and the volume of downloaded content, but also because it had high-profile support from celebrities, musicians and other content producers who are most often the victims of copyright infringement and piracy. Before the website was taken down, it contained endorsements from Kim Kardashian, Alicia Keys and Kanye West, among others.
The Hong Kong-based company listed Swizz Beatz, a musician who married Keys in 2010, as its CEO. He was not named in the indictment and declined to comment through a representative.
Before the site was taken down, it posted a statement saying allegations that it facilitated massive breaches of copyright laws were “grotesquely overblown.”
“The fact is that the vast majority of Mega’s Internet traffic is legitimate, and we are here to stay. If the content industry would like to take advantage of our popularity, we are happy to enter into a dialogue. We have some good ideas. Please get in touch,” the statement said.
The site boasted 150 million registered users.
A lawyer who represented the company in a lawsuit last year declined comment Thursday.
Megaupload is considered a “cyberlocker,” in which users can upload and transfer files that are too large to send by email. Such sites can have perfectly legitimate uses. But the Motion Picture Association of America, which has campaigned for a crackdown on piracy, estimated that the vast majority of content being shared on Megaupload was in violation of copyright laws.
The website allowed users to download films, TV shows, games, music and other content for free, but made money by charging subscriptions to people who wanted access to faster download speeds or extra content. The website also sold advertising.
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