text:
The quality of locally-produced rice in Nigeria has recorded significant improvement in recent weeks, as the latest Nairametrics Household Survey revealed that more brands of local rice continued to flood major markets in Lagos, thereby pulling the prices.
According to the latest Survey, the price of local rice reduced significantly across major markets in Lagos as new brands of locally made rice were sighted in various markets. Bags of locally-made rice now sell for an average of N19,250 compared to the initial average of N20,750.
The report also showed that 10kg bags of locally produced rice reduced from N4,000 last month to N3,500 last week. The report has items that witnessed decrease in prices, Items that increased in prices, Items that maintained initial prices, special markets accounts and market insights.
Items that witnessed price decrease
- A 10kg bag of Mama Gold rice and Rice Master reduced to a uniform price of N3,500 compared to an initial average of N4,000 and N4,250 respectively.
- A 50kg bag of Mama Gold rice currently sells for an average of N19,250, a 7.23% reduction compared to an initial average of N20,750.
- Also, the price of 50kg bags of Caprice reduced to an average of N25,750 compared to an initial average of N26,167.
- A 50kg bag of brown beans (Oloyin) sells for an average of N12,500, a 3.85% reduction compared to N13,000 being sold two weeks ago.
- While a bag of regular brown beans currently sells for an average of N20,375, a 13.3% reduction in contrast to N23,500 sold in January. A 50kg bag of white beans reduced to an average of N19,875 from an initial average of N21,250.
- The price of pepper decreased yet again, as a big bag now sells for an average of N6,000 from an initial average of N6,500, while a medium bag which was sold for an average of N5,000 two weeks ago reduced by 4% to sell for N4,800.
Items that witnessed price increase
Among the items that witnessed increase in their prices are yam, locally made groundnut oil, tomatoes and onions among others.
- A big tuber of yam now sells for an average of N850 from an initial average of N813, indicating a 4.62% increase within two weeks, while a medium-sized tuber of yam increased by 4.17% to sell for an average of N625.
- A 25-litre gallon of local vegetable oil sells for an average of N13,075, an 1.55% increase compared to an initial average of N12,875.
- A basket of round shaped tomatoes that enjoyed consistent price reductions in recent weeks witnessed relative price increase as a big basket now sells for an average of N6,500 compared to an initial average of N6,000, representing 8.33% increase.
- A medium-sized basket of tomatoes currently sells for N3,800 compared to an initial N3,500 in January.
- Another item that recorded increase in price, despite a run of consistent decrease is onion. A big bag of dry onions currently sells for N22,000 from an initial N20,000. It increased by 10% within two weeks.
- Also, a big bag of new onions costs N19,000, a 5.56% increment compared to N18,000 in January.
Items that maintained initial prices
- Big baskets of sweet potatoes and Irish potatoes still retain their initial prices at N4,300 and N18,000 respectively.
- A bag of Royal Stallion (Foreign) rice maintained its initial price at N27,000.
- Across the visited markets, the price of a bag of flour remains unchanged at an average of N11,275.
- The prices of bags of maize, both yellow and white, maintain their initial prices at the average of N14,000 and N15,500 respectively.
- A kilo of fish (Kote) continues to sell for an average of N478 as Titus fish also maintains N485 as sold two weeks ago.
- Some other items that maintained their initial prices include cartons of noodles, refilling of household cooking gas, beverages and crates of eggs.
- Sellers of locally produced palm oil and groundnut oil at Daleko market told Nairametrics Research that their prices are reducing gradually, compared to December.
“A big drum of groundnut oil, that was sold between the range of N115,000 and N120, 0000 in December is now sold for an average of N108,000, while palm oil of the same quantity sells for an average of N72,000 compared to an average of N80,000.”
- We also gathered that the price of a big bunch of plantains that was sold in December for N1,500 at Idi-Oro market reduced to N1,000 in February while a smaller sized bunch now sells for N800 compared to N1,000 in December.
Nairametrics Research Team gathered that the continuous supply of new brands of locally produced rice is as a result of farmers’ willingness to produce rice to meet the country’s needs. This has crashed the price of the commodity to N19,000 from an initial N21,000.
A rice seller at Daleko market praised the producers of locally made rice, as the volume of stony rice in the various markets has reduced drastically, while also producing rice that could measure up with foreign-made rice in terms of quality.
Some of the new brands of locally made rice sighted in the markets include Famous Rice, Our Rice, JGW New-World Rice and Al-flux Rice, all of which sell within the range of N18,000 and N19,000 while Mai-Nasari rice cost an average of N16,000.
|Items||Brand||Unit||MUSHIN (06/02/2020)||DALEKO (06/02/2020)||OYINGBO (06/02/2020)||MILE 12 (06/02/2020)||Average||MUSHIN (23/01/2020)||DALEKO (23/01/2020)||OYINGBO (23/01/2020)||MILE 12 (23/01/2020)||Average|
|Bag of Rice||Basmati||5kg||NA||NA||NA||NA||NA||NA||NA||NA||NA||NA|
|Bag of Rice||Mama Gold||10kg||NA||3500||NA||NA||3500||NA||4000||NA||NA||4000|
|Bag of Rice||Royal Stallion||50Kg||27000||NA||27000||NA||27000||27000||NA||27000||NA||27000|
|Bag of Rice||Rice Master||10kg||NA||3500||NA||NA||3500||NA||4000||NA||4500||4250|
|Bag of Rice||Mama Gold||50kg||19000||19000||19500||19500||19250||21000||20000||21000||21000||20750|
|Bag of Rice||Caprice||50kg||26500||NA||NA||25000||25750||26500||27000||NA||25000||26166.666666667|
|Bag of Rice||Mama's Pride||50kg||19000||19000||19500||19500||19250||21000||20000||21000||21000||20750|
|Bag of Rice||Falcon||25kg||NA||NA||NA||NA||NA||NA||NA||NA||NA||NA|
|Bag of Beans||Oloyin||50kg||13000||12000||13000||12000||12500||13000||12000||13000||14000||13000|
|Bag of Beans||White||50kg||20500||18000||21000||20000||19875||22000||20000||22000||21000||21250|
|Bag of Beans||Brown||>50kg||22000||18000||21500||20000||20375||24000||22000||24000||24000||23500|
|Tuber of Yam||Abuja||1 Big Size Tuber||900||800||850||850||850||850||800||800||800||812.5|
|Tuber of Yam||Abuja||1 Medium Size Tuber||650||650||600||600||625||650||550||600||600||600|
|Carton of Noodles||Indomie||305g (Belle full)||2900||2900||2900||2900||2900||2900||2900||2900||2900||2900|
|Carton of Noodles||Indomie||200g (Hungry man)||3200||3200||3200||3200||3200||3200||3200||3200||3200||3200|
|Carton of Noodles||Chikki||100g||2000||2200||2100||2100||2100||2000||2200||2100||2100||2100|
|Carton of Noodles||Minimie||70g||1500||1500||1500||1500||1500||1500||1500||1500||1500||1500|
|Carton of Noodles||Golden Penny||70g||1400||1400||1400||1400||1400||1400||1400||1400||1400||1400|
|Bag of Garri||Ijebu||80kg||6000||6800||7000||7000||6700||6000||6800||7000||7000||6700|
|Bag of Garri||White||50kg||6000||6000||6500||6000||6125||6000||6000||6500||6000||6125|
|Bag of Garri||Yellow||50kg||6000||6500||6500||7000||6500||6000||6500||6500||7000||6500|
|Basket of Potato||Sweet||Big Basket||4300||4300||4300||4300|
|Basket of Potato||Sweet||Small Basket||700||700||700||700|
|Basket of Potato||sweet||Smallest Basket||200||200||200||200|
|Basket of Potato||Irish||Biggest Basket||18000||18000||18000||18000|
|Basket of Potato||Irish||Medium Basket||2000||2000||2000||2000|
|Basket of Potato||Irish||Small Basket||1500||1500||1500||1500|
|Packet of Pasta||Golden Penny||500g||4300||4400||4300||4200||4300||4300||4400||4300||4200||4300|
|Packet of Pasta||Dangote||500g||4000||4000||4000||4100||4025||4000||4000||4000||4100||4025|
|Packet of Pasta||Power (1 pc)||500g||220||220||220||200||215||220||220||220||200||215|
|Packet of Pasta||Bonita (1 pc)||500g||220||200||200||210||207.5||220||200||200||210||207.5|
|Gallon of Palm Oil||Local||5 Litres||2200||2000||2300||2000||2125||2200||2000||2300||2000||2125|
|Gallon of Palm Oil||Local||25 Litres||10500||9000||10000||9500||9750||10500||10000||10500||9500||10125|
|Gallon of Vegetable Oil||Local||5 Litres||2300||2300||2400||2300||2325||2300||2300||2400||2300||2325|
|Gallon of Vegetable Oil||Local||25 Litres||13000||13000||13500||12800||13075||13000||12500||13500||12500||12875|
|Gallon of Vegetable Oil||Kings||5 Litres||3000||3000||3000||3000||3000||3000||3000||3000||3000||3000|
|Gallon of Vegetable Oil||Wesson||5 Litres||3900||3900||3900||3900||3900||3900||3900||3900||3900||3900|
|Gallon of Vegetable Oil||Mamador||3.8 Litres||2500||2450||2500||2400||2462.5||2500||2450||2500||2400||2462.5|
|Gallon of Vegetable Oil||Power||3 Litres||1800||1800||1800||1800||1800||1800||1800||1800||1800||1800|
|Bunch of Plaintain||Plaintain||1 Big Bunch||400||400||350||400||387.5||400||400||350||400||387.5|
|Bag of Flour||Dangote||50kg||11200||11200||11200||11500||11275||11200||11200||11200||11500||11275|
|Bag of Flour||Honey well||50Kg||11500||11200||11200||11200||11275||11500||11200||11200||11200||11275|
|Bag of Flour||Mama Gold||50kg||11500||11300||11000||11300||11275||11500||11300||11000||11300||11275|
|Bag of Sugar||Dangote||50kg||3500||3200||3400||3200||3325||3500||3200||3400||3200||3325|
|Milk||Peak Powdered (Tin)||400g||1250||1200||1200||1200||1212.5||1250||1200||1200||1200||1212.5|
|Milk||Peak milk (Refill)||500g||1050||1000||1000||1000||1012.5||1050||1000||1000||1000||1012.5|
|Milk||Dano Powdered (Tin)||500g||1000||1000||1000||1000||1000||1000||1000||1000||1000||1000|
|Milk||Loya Powdered (Tin)||400g||1000||1000||1000||1050||1012.5||1000||1000||1000||1050||1012.5|
|Cocoa Beverages||Milo (Tin)||500g||1000||1100||1050||1000||1037.5||1000||1100||1050||1000||1037.5|
|Cocoa Beverages||Milo (Tin)||900g||2000||2100||2100||2100||2075||2000||2100||2100||2100||2075|
|Cocoa Beverages||Milo Refill||500g||900||900||900||900||900||900||900||900||900||900|
|Cocoa Beverages||Bournvita Refill||500g||950||900||950||900||925||950||900||950||900||925|
|Cocoa Beverages||Bournvita (Plastic)||900g||2000||2000||2000||2000||2000||2000||2000||2000||2000||2000|
|Cocoa Beverages||Ovaltine Refill||500g||800||800||850||850||825||800||800||850||850||825|
|Tea||Lipton Yellow label||52g||310||290||300||300||300||310||290||300||300||300|
|Sugar||St' Loius Sugar(Cube)||500g||400||380||400||450||407.5||400||380||400||450||407.5|
|Sugar||Golden Penny Sugar (cube)||500g||350||300||350||300||325||350||300||350||300||325|
|Bottled Water (Refill)||Cway||Refill||600||600||650||600||612.5||600||600||650||600||612.5|
|Juice||5 Alive||1 litre||600||550||550||600||575||600||550||550||600||575|
|Tomatoes||Big Basket||round shaped||6500||6500||6000||6000|
|Medium Basket||round shaped||3800||3800||3500||3500|
|Small Basket||round shaped||2000||2000||2500||2500|
|Big Basket||Oval Shaped||NA||NA||NA||NA|
|Small Basket||Oval Shaped||NA||NA||NA||NA|
|Fish||Kote (Horse Mackerel)||1 kg||500||450||470||490||477.5||500||450||470||490||477.5|
|Fish||Titus (Mackerel)||1 kg||500||450||500||490||485||500||450||500||490||485|
|Onions||Big bag||Dry Onions||22000||22000||20000||20000|
|Onions||Big bag||New Onions||19000||19000||18000||18000|
About Nairametrics Food Price Survey
The Nairametrics Food Price Watch is a bi-weekly household market survey that covers the prices of major food items, with emphasis on five major markets in Lagos – Mushin Market, Daleko Market, Oyingbo Market, Idi-Oro Market and Mile 12.
Policy changes and challenges for MSMEs in 2020
The startup companies are valued at over $1 billion because the uncertainties of doing business in Nigeria are quite high.
It is a given that 2020 has been one of the most trying years for business owners and entrepreneurs. Some businesses have been crushed completely, with some left barely breathing.
The year started with the announcement of the increased VAT rates, moved on to the coronavirus pandemic and its attendant challenges, the global oil crisis and its implications on national revenue, and just after the easing of the lockdown, the recent increase in fuel price. What do all these connote for Micro, Small, and Medium Enterprises that were already groaning under stiff economic policies and trying to survive the hard days? Your guess is as good as mine.
Taxation in the middle of a pandemic
Amid all of these challenges, the government (through its agencies) trying to widen its tax net and improve revenue, with more duties and tax options being imposed on Nigerians. Just recently, as courier and logistics business operators were still trying to grapple with the implications of the increased NIPOST license fees, when NIPOST and FIRS went on a social media war of words over which agency is constitutionally justified to collect the Stamp Duties.
There is also the recent rental tax announced by the government, a move still being protested by unions who have argued that this pandemic period is a time for the government to give out palliatives, not widen its tax net.
What do the multiple changes and challenges in 2020 mean for MSMEs?
In a recent tweet on his handle, Partner & Chief Economist at PwC Nigeria, Andrew Nevin (Ph.D.) noted that the current circumstances will stifle the entire economy and constrain MSMEs from growing, as it is quite difficult to grow in an economy that is not growing.
“… The complexity and cost of governance and the fiscal crisis is leading to a situation where successful companies in the tax net are subject to more and more taxes, which means they cannot grow and some companies in the formal economy will try to move back to the informal economy, further compounding the issue,” Nevin tweeted.
… the complexity and cost of governance, and the fiscal crisis is leading to a situation where successful companies in the tax net are subject to more and more taxes, which means they cannot grow …
— Andrew S. Nevin, PhD (@nevinomics) August 7, 2020
Nevin also noted that even though the SMEs employ over 80% of the country’s workforce, the startups in Nigeria hardly get to the point where they are valued at over $1 billion. And this is because the uncertainties of doing business in Nigeria are quite high. Gokada, for instance, had a thriving business environment and was set to break even when the new policy was introduced banning motorcycles across major routes in Lagos. This, he said, shows the uncertainty of the business environment in Nigeria.
… a very good example is GoKada … they invested heavily in Lagos, and the Governor was supportive .. then for perhaps very good reasons security requires that the business is banned … and the GoKada investment has been lost …
— Andrew S. Nevin, PhD (@nevinomics) August 7, 2020
In addition, attracting global capital to scale a unicorn requires more money than are readily available for risky companies in Nigeria. The challenging business environment and the ‘reputation’ associated with the Nigerian flag makes it very hard to get sufficient external capital.
According to him, SMEs entering the formal sector means higher productivity and monitored payment of taxes. Yet, entry into the formal sector is still a choice most small businesses do not want to embrace due to the economic environment.
“… if the cost and complexity of entering the formal sector is too high, then the SME will elect to stay in the informal sector with all the attendant issues, including that they can be subject to harassment by the authorities,” he said.
He noted that the large SME sector arises partly from unemployment and people rushing into entrepreneurship as a means of livelihood; as well as the difficulties to grow a large and strong business.
“These type of statistics always tell us the sector is huge but it is huge because it is too difficult to grow big companies, so this is not a sign of strength. The best structure for the economy is to have strong large companies that then create room for SMEs to be part of their ecosystem.
“Large companies raise standards (look at quality of Dangote companies for example) and raise productivity and create opportunities for others so large SME sector is sign that business is too difficult because if Nigeria was functioning correctly, we would have 100+ Dangotes in the Economy,” Nevin tweeted.
Explaining the challenges of MSMEs in Nigeria, Chairman and Managing Partner at Ofuani Maidoh & Co, Clement Ofuani, noted that small businesses in Nigeria have more pressing challenges to deal with than the government-imposed fiscal burdens.
Ofuani told Nairametrics in an interview, that the harsh and hostile operating environment makes for a more serious challenge for small businesses.
“Epileptic electricity power supply, inefficient transportation system and insecurity impose more operating costs on MSMEs than the fiscal taxes listed,” he stated.
Ofuani, who served as Senior Special Assistant to President Umaru Musa Yar’Adua on Policy, explained that the Finance Act waives income tax for companies with turnover below N25 million, thus granting fiscal reliefs to most small businesses.
“The stamp duty on rental agreements and other agreements are additional burdens as is the increase of VAT to 7.5% but the below-the-table taxes paid by MSMEs in form of unreceipted ‘taxes’ to the security personnel along the transportation corridors, and to bureaucrats for normal government services are the greatest frustrations that make Nigeria uncompetitive in global commerce and as an investment destination,” Ofuani stated.
Amid all of these formal and informal challenges, it becomes very difficult for the small start-up to grow beyond its startup stage and become a big company.
The on-going pandemic and recent policies have done little or nothing to address these challenges and despite the palliatives, loans, and support schemes being launched by the government at various levels, most of these small businesses will still find their growth stunted by some of these “unreceipted taxes”.
COVID-19 Update in Nigeria
On the 11th of August 2020, 423 new confirmed cases and 6 deaths were recorded in Nigeria.
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increase as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 47,290 confirmed cases.
On the 11th of August 2020, 423 new confirmed cases and 6 deaths were recorded in Nigeria, having carried out a total daily test of 2,355 samples across the country.
To date, 47,290 cases have been confirmed, 33,609 cases have been discharged and 956 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 319,851 tests have been carried out as of August 11th, 2020 compared to 317,496 tests a day earlier.
COVID-19 Case Updates- 11th August 2020,
- Total Number of Cases – 47,290
- Total Number Discharged – 33,609
- Total Deaths – 956
- Total Tests Carried out – 319,851
According to the NCDC, the 423 new cases were reported from 22 states- Lagos (117), FCT (40), Ondo (35), Rivers (28), Osun (24), Benue (21), Abia (19), Ogun (19), Ebonyi (18), Delta (17), Kwara (17), Kaduna (15), Anambra (14), Ekiti (11), Kano (9), Imo (6), Gombe (4), Oyo (3), Taraba (3), Bauchi (1), Edo (1) and Nasarawa (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 16,074, followed by Abuja (4,525), Oyo (2,890), Edo (2,399), Rivers (1,972), Kano (1,643), Kaduna (1,628), Delta (1,613), Plateau (1,584), Ogun (1,497), Ondo (1,324), Enugu (914), Ebonyi (888), Kwara (882), Katsina (746), Borno (690), Abia (663), Osun (652), Gombe (635), and Bauchi (578).
Imo State has recorded 485 cases, Benue (430), Nasarawa (371), Bayelsa (346), Jigawa (322), Akwa Ibom (235), Niger (226), Ekiti (193), Adamawa (185), Anambra (156), Sokoto (154), Kebbi (90), Taraba (78), Zamfara (77), Cross River (73), Yobe (67), while Kogi state has recorded 5 cases only.
Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
|Date||Confirmed case||New cases||Total deaths||New deaths||Total recovery||Active cases||Critical cases|
|August 11, 2020||47290||423||956||6||33609||12725||7|
|August 10, 2020||46867||290||950||5||33346||12571||7|
|August 9, 2020||46577||437||945||3||33186||12446||7|
|August 8, 2020||46140||453||942||6||33044||12154||7|
|August 7, 2020||45687||443||936||6||32637||12114||7|
|August 6, 2020||45244||354||930||3||32430||11884||7|
|August 5, 2020||44890||457||927||17||32165||11798||7|
|August 4, 2020||44433||304||910||14||31851||11672||7|
|August 3, 2020||44129||288||896||8||20663||22570||7|
|August 2, 2020||43841||304||888||5||20308||22645||7|
|August 1, 2020||43537||386||883||4||20287||22567||7|
|July 31, 2020||43151||462||879||1||19565||22707||7|
|July 30, 2020||42689||481||878||5||19270||22541||7|
|July 29, 2020||42208||404||873||5||19004||22331||7|
|July 28, 2020||41804||624||868||8||18764||22172||7|
|July 27, 2020||41180||648||860||2||18203||22117||7|
|July 26, 2020||40532||555||858||2||17374||22300||7|
|July 25, 2020||39977||438||856||11||16948||22173||7|
|July 24, 2020||39539||591||845||12||16559||22135||7|
|July 23, 2020||38948||604||833||20||16061||22054||7|
|July 22, 2020||38344||543||813||8||15815||21716||7|
|July 21, 2020||37801||576||805||4||15677||21319||7|
|July 20, 2020||37225||562||801||12||15333||21091||7|
|July 19, 2020||36663||556||789||11||15105||20769||7|
|July 18, 2020||36107||653||778||6||14938||20391||7|
|July 17, 2020||35454||600||772||3||14633||20049||7|
|July 16, 2020||34854||595||769||9||14292||19793||7|
|July 15, 2020||34259||643||760||6||13999||19500||7|
|July 14, 2020||33616||463||754||10||13792||19070||7|
|July 13, 2020||33153||595||744||4||13671||18738||7|
|July 12, 2020||32558||571||740||16||13447||18371||7|
|July 11, 2020||31987||664||724||15||13103||18160||7|
|July 10, 2020||31323||575||709||20||12795||17819||7|
|July 9, 2020||30748||499||689||5||12546||17513||7|
|July 8, 2020||30249||460||684||15||12373||17192||7|
|July 7, 2020||29789||503||669||15||12108||17012||7|
|July 6, 2020||29286||575||654||9||11828||16804||7|
|July 5, 2020||28711||544||645||11||11665||16401||7|
|July 4, 2020||28167||603||634||6||11462||16071||7|
|July 3, 2020||27564||454||628||12||11069||15867||7|
|July 2, 2020||27110||626||616||13||10801||15693||7|
|July 1, 2020||26484||790||603||13||10152||15729||7|
|June 30, 2020||25694||561||590||17||9746||15358||7|
|June 29, 2020||25133||566||573||8||9402||15158||7|
|June 28, 2020||24867||490||565||7||9007||14995||7|
|June 27, 2020||24077||779||558||4||8625||14894||7|
|June 26, 2020||23298||684||554||5||8253||14491||7|
|June 25, 2020||22614||594||549||7||7822||14243||7|
|June 24, 2020||22020||649||542||9||7613||13865||7|
|June 23, 2020||21371||452||533||8||7338||13500||7|
|June 22, 2020||20919||675||525||7||7109||13285||7|
|June 21, 2020||20242||436||518||12||6879||12847||7|
|June 20, 2020||19808||661||506||19||6718||12584||7|
|June 19, 2020||19147||667||487||12||6581||12079||7|
|June 18, 2020||18480||745||475||6||6307||11698||7|
|June 17, 2020||17735||587||469||14||5967||11299||7|
|June 16, 2020||17148||490||455||31||5623||11070||7|
|June 15, 2020||16658||573||424||4||5349||10885||7|
|June 14, 2020||16085||403||420||13||5220||10445||7|
|June 13, 2020||15682||501||407||8||5101||10174||7|
|June 12, 2020||15181||627||399||12||4891||9891||7|
|June 11, 2020||14554||681||387||5||4494||9673||7|
|June 10, 2020||13873||409||382||17||4351||9140||7|
|June 9, 2020||13464||663||365||4||4206||8893||7|
|June 8, 2020||12801||315||361||7||4040||8400||7|
|June 7, 2020||12486||260||354||12||3959||8173||7|
|June 6, 2020||12233||389||342||9||3826||8065||7|
|June 5, 2020||11844||328||333||10||3696||7815||7|
|June 4, 2020||11516||350||323||8||3535||7646||7|
|June 3, 2020||11166||348||315||1||3329||7522||7|
|June 2, 2020||10819||241||314||15||3239||7266||7|
|June 1, 2020||10578||416||299||12||3122||7157||9|
|May 31, 2020||10162||307||287||14||3007||6868||7|
|May 30, 2020||9855||553||273||12||2856||6726||7|
|May 29, 2020||9302||387||261||2||2697||6344||7|
|May 28, 2020||8915||182||259||5||2592||6064||7|
|May 27, 2020||8733||389||254||5||2501||5978||7|
|May 26, 2020||8344||276||249||16||2385||5710||7|
|May 25, 2020||8068||229||233||7||2311||5524||7|
|May 24, 2020||7839||313||226||5||2263||5360||7|
|May 23, 2020||7526||265||221||0||2174||5131||7|
|May 22, 2020||7261||245||221||10||2007||5033||7|
|May 21, 2020||7016||339||211||11||1907||4898||7|
|May 20, 2020||6677||284||200||8||1840||4637||7|
|May 19, 2020||6401||226||192||1||1734||4475||7|
|May 18, 2020||6175||216||191||9||1644||4340||7|
|May 17, 2020||5959||388||182||6||1594||4183||7|
|May 16, 2020||5621||176||176||5||1472||3973||7|
|May 15, 2020||5445||288||171||3||1320||3954||4|
|May 14, 2020||5162||193||168||3||1180||3815||4|
|May 13, 2020||4971||184||164||6||1070||3737||4|
|May 12, 2020||4787||146||158||6||959||3670||4|
|May 11, 2020||4641||242||152||10||902||3589||4|
|May 10, 2020||4399||248||142||17||778||3479||4|
|May 9, 2020||4151||239||127||11||745||3278||4|
|May 8, 2020||3912||386||118||10||679||3115||4|
|May 7, 2020||3526||381||108||4||601||2818||4|
|May 6, 2020||3145||195||104||5||534||2507||1|
|May 5, 2020||2950||148||99||5||481||2370||4|
|May 4, 2020||2802||245||94||6||417||2291||2|
|May 3, 2020||2558||170||88||2||400||2070||2|
|May 2, 2020||2388||220||86||17||351||1952||2|
|May 1, 2020||2170||238||69||10||351||1751||2|
|April 30, 2020||1932||204||59||7||317||1556||2|
|April 29, 2020||1728||196||52||7||307||1369||2|
|April 28, 2020||1532||195||45||4||255||1232||2|
|April 27, 2020||1337||64||41||0||255||994||2|
|April 26, 2020||1273||91||41||5||239||994||2|
|April 25, 2020||1182||87||36||3||222||925||2|
|April 24, 2020||1095||114||33||1||208||855||2|
|April 23, 2020||981||108||32||3||197||753||2|
|April 22, 2020||873||91||29||3||197||648||2|
|April 21, 2020||782||117||26||3||197||560||2|
|April 20, 2020||665||38||23||1||188||466||2|
|April 19, 2020||627||86||22||2||170||436||2|
|April 18, 2020||541||48||20||2||166||356||2|
|April 17, 2020||493||51||18||4||159||317||2|
|April 16, 2020||442||35||13||1||152||277||2|
|April 15, 2020||407||34||12||1||128||267||2|
|April 14, 2020||373||30||11||1||99||263||2|
|April 13, 2020||343||20||10||0||91||242||2|
|April 12, 2020||323||5||10||0||85||228||2|
|April 11, 2020||318||13||10||3||70||238||2|
|April 10, 2020||305||17||7||0||58||240||2|
|April 9, 2020||288||14||7||1||51||230||2|
|April 8, 2020||274||22||6||0||44||226||2|
|April 7, 2020||254||16||6||1||44||204||2|
|April 6, 2020||238||6||5||0||35||198||2|
|April 5, 2020||232||18||5||1||33||194||2|
|April 4, 2020||214||5||4||0||25||185||0|
|April 3, 2020||209||25||4||2||25||180||0|
|April 2, 2020||184||10||2||0||20||162||0|
|April 1, 2020||174||35||2||0||9||163||0|
|March 31, 2020||139||8||2||0||9||128||0|
|March 30, 2020||131||20||2||1||8||121||0|
|March 29, 2020||111||22||1||0||3||107||0|
|March 28, 2020||89||19||1||0||3||85||0|
|March 27, 2020||70||5||1||0||3||66||0|
|March 26, 2020||65||14||1||0||2||62||0|
|March 25, 2020||51||7||1||0||2||48||0|
|March 24, 2020||44||4||1||0||2||41||0|
|March 23, 2020||40||10||1||1||2||37||0|
|March 22, 2020||30||8||0||0||2||28||0|
|March 21, 2020||22||10||0||0||1||21||0|
|March 20, 2020||12||4||0||0||1||11||0|
|March 19, 2020||8||0||0||0||1||7||0|
|March 18, 2020||8||5||0||0||1||7||0|
|March 17, 2020||3||1||0||0||0||3||0|
|March 16, 2020||2||0||0||0||0||2||0|
|March 15, 2020||2||0||0||0||0||2||0|
|March 14, 2020||2||0||0||0||0||2||0|
|March 13, 2020||2||0||0||0||0||2||0|
|March 12, 2020||2||0||0||0||0||2||0|
|March 11, 2020||2||0||0||0||0||2||0|
|March 10, 2020||2||0||0||0||0||2||0|
|March 9, 2020||2||1||0||0||0||2||0|
|March 8, 2020||1||0||0||0||0||1||0|
|March 7, 2020||1||0||0||0||0||1||0|
|March 6, 2020||1||0||0||0||0||1||0|
|March 5, 2020||1||0||0||0||0||1||0|
|March 4, 2020||1||0||0||0||0||1||0|
|March 3, 2020||1||0||0||0||0||1||0|
|March 2, 2020||1||0||0||0||0||1||0|
|March 1, 2020||1||0||0||0||0||1||0|
|February 29, 2020||1||0||0||0||0||1||0|
|February 28, 2020||1||1||0||0||0||1||0|
BEWARE: Harmful products are on your local store shelves!
Consumers are to look out for the manufacture and expiry date before consuming a product.
Time was when the seal on a product bearing a NAFDAC registration number was considered the ultimate seal of authentication. Nowadays, not only are substandard and adulterated products dragging the market share with genuine products, some of them now falsify the NAFDAC seal of approval – registration number.
The National Agency for Food and Drug Administration and Control (NAFDAC) recently advised consumers to beware of some products with fake registration numbers being sold in stores and outlets. The agency advised Nigerians to always examine a product thoroughly (particularly food, drugs, medical devices, or packaged water) before purchasing. Consumers are to look out for the manufacture and expiry date before consuming.
The agency’s Director of Public Affairs, Dr Jimoh Abubakar, while speaking during a recent interview said: “examine the content of the product, the seal of authority or the approved registration number from NAFDAC which is sacrosanct; NAFDAC registration number is not just a number, it is not plate number of a vehicle.
“The number is a rigorous scientific elaboration of a product through our laboratory analysis and through certain compendium references, and after all these by NAFDAC, a product will then be certified for safety, efficacy and wholesomeness”.
In summary, the registration number from NAFDAC is a confirmation to consumers that the product (content and processes) has been examined and is now certified fit for human consumption. The certification process ensures first that good manufacturing practice has been followed, in the right location and environment, and with the right contents, before the product can be labelled.
A recent experience
I purchased a multi-vitamin from an online store recently, and the product was delivered four days later. I was about to break the seal and consume when I noticed there was a slight difference in the name.
I examined the packet closely and discovered that even though the product had been packaged in exactly the same orange-coloured package, the name was different and the details showed that it was manufactured somewhere in Lagos state (the expected product was supposed to be manufactured in the USA).
I wanted to return it outright but then I convinced myself on the need to patronise locally made brands as well if it could give me the same results. I typed the registration number into the NAFDAC verify page and this was the result; “Warning! This product is fake. – report product”.
The scourge of fake registration numbers
In as much as registration numbers are a key differentiator between approved and uncertified products, NAFDAC has admitted that there are fake registration numbers out in the market.
According to Abubakar, the agency is also on the lookout for perpetrators of this deceptive act, even as consumers have been urged to take an extra step in examining a product before consuming it.
He added that technology had made most things easier now and urged Nigerians to visit NAFDAC’s website to get more information about products.
He noted that some products are listed on the website, especially sachet water, as the agency’s staff strength is not enough to be everywhere or to police the country’s population.
“Public awareness and information are very cardinal for people to help themselves; NAFDAC leverages so much on public sensitisation. So, people must help themselves on the consumption of these products,” he said.
Harmful products alert!
Sometime in July, the agency sent out a public alert notifying consumers that the “Pure Tassie Organic Apple and Blackcurrant Juice originating from Australia” had been examined and considered unsafe for consumption, due to unacceptable level of patulin (a mycotoxin) which had exceeded the maximum limit in fruit juice.
The agency’s verdict had also been confirmed by the Centre for Food Safety (CFS) of Hong Kong’s Food and Environmental Hygiene Department, before the alert was sent out.
According to the notice, the level of patulin content in the juice is high enough to “induce liver, spleen and kidney damage”, and also toxic to the human immune system, causing nausea, gastrointestinal disturbance and vomiting.
In the alert, NAFDAC implored importers, distributors, retailers and consumers to immediately stop the importation, distribution, sale and consumption of the affected fruit juice, urging them to turn in all current stock of the product to the NAFDAC office, although no mention is made as to compensations for their losses.
A month before this, there was a similar alert from the agency about three cosmetic products namely “Sifu Kunyit Day Cream, Sifu Kunyit Night Cream and JJ Skincare Glowhite Night Cream”.
The products were confirmed by the agency to contain hydroquinone, tretinoin, betamethasone valerate and mercury, all of which are targeted at lightening the skin and changing the pigmentation.
Given the quantity used in these products, NAFDAC confirmed that they can cause damage to the kidney, get absorbed into the blood circulatory system and increase the risk of skin cancer along with other ailments.
Apart from harm caused to the user of products containing mercury, NAFDAC confirmed that mercury can disrupt the brain development of unborn children when consumed by nursing mothers, and also inhibit brain development of young children.
This time around, the products originated from Malaysia and had been imported into Nigeria. Deducing from the notice, one can see that the product had already been banned by the Malaysian Ministry of Health before ever it was imported to Nigeria.
In April, it was a World Health Organisation (WHO) alert on falsified Chloroquine products in circulation in Africa, all originating from three African Countries are Cameroon, Democratic Republic of Congo and Niger.
Why would people buy banned products?
A trader who spoke to Nairametrics confirmed that it is possible for such products to still be imported despite being banned. Tolani, who manages a warehouse where she sells consumables (snacks and drinks ) in wholesale quantities affirmed that when supplies are being made, the suppliers sometimes introduce new products at ridiculously lower prices.
“Some of these brand names that we know are very expensive and their price continues to increase without regulation. So, sometimes when we make to buy new stocks, the supplier can show us a new and similar product that is even less than half the price of the popular brands we know, so we buy them as well.
“They are all imported products, and people like to try out foreign products so we know for sure that they will buy it from us,” she explained.
She added that there was no way to confirm at such times whether or not the product was original, imitated, safe or harmful since the traders are no experts.
“They are foreign products, and I believe that if they passed through customs officers and entered the market, then they should have been checked there” she added for emphasis.
Any synergy between NCS and NAFDAC
Consuming harmful products is bad enough, but exchanging hard-earned money for things that could be detrimental to one’s health is even worse.
NAFDAC already has to combat imitated or harmful drugs produced locally. Doing same for imported products means they have even more on their plate to deal with. The Nigerian Customs Service (NCS) is responsible for manning the borders of the country and monitoring what goes in or out, and if unsafe products still find their way into the country, it means that there are gaps that need to be sealed.
Tweets on the NCS twitter handle shows that much of the organisation’s activities have been centred around the impounding of smuggled bags of rice, kegs of vegetable oil, cartons of spaghetti/macaroni, bags of foreign sugar, cartons of soap, bales of textile materials, parcels of India hemp, NPK fertilisers and vehicles among others.
There is a striking absence of activities around the importation of fake or harmful drugs or other consumables, and all the focus has been on the more lucrative items contained in the import prohibition list such as frozen or live poultry, refined vegetable oils, cocoa butter, bagged cement, etc.
Even though pharmaceutical and consumable items make up 5 out of the 25 item list, it would appear that the list has not been updated recently in line with the recent public alerts from NAFDAC.
Download the Nairametrics News App
Clearly, consumers will have to take precautions themselves as NAFDAC has advised because the agencies appear to be overwhelmed with the amount of criminal work going on in the space. Thankfully, some products now include a sealed number on the packet which the consumer is meant to text to the unique code and confirm the authenticity. Unfortunately, consumers are often in a hurry and not many are patient enough to wait for the confirmation message.
From creams to drinks, foods, drugs and other things that are used in or on the body, an extra minute for verification might just be the deciding factor at the end of the day.


text:
Home > News > Nano4Food Conference Brings the Nanotech World into the Food Chain
April 4th, 2005
Nano4Food Conference Brings the Nanotech World into the Food Chain
Nano4Food, the world's first conference focused specifically on nanotechnologies and the food industry, will be held on June 20th-21st at Wageningen International Convention Centre, Wageningen, The Netherlands.
The taming of magnetic vortices: Unified theory for skyrmion-materials March 3rd, 2015
Democratizing synthetic biology: New method makes research cheaper, faster, and more accessible March 3rd, 2015
Pens filled with high-tech inks for do-it-yourself sensors March 3rd, 2015
Black phosphorus is new 'wonder material' for improving optical communication March 3rd, 2015

domain: news


text:
Honda recalls 1.2 million U.S. vehicles for rear camera issue
The recall covers some 2018-2023 Odyssey, 2019-2022 Pilot, and 2019-2023 Passport vehicles. Due to a faulty communication coaxial cable connector, the rearview camera image may not appear on the display.
Honda previously extended the warranty to vehicles affected by the issue in 2021. The automaker said in a filing with NHTSA it has received 273,870 warranty claims related to the issue between May 2017 and June this year, and no reports of injuries or deaths related to the recall issue.


text:
On 1 June 2018, Visa Europe suffered an outage that affected thousands – if not millions – of consumers. People were unable to make transactions or even withdraw cash. While the system was back running by the end of the day, what damage did it do? Patrick Brusnahan writes
The full extent of the issue is not yet clear, but Visa is still investigating the cause of the problems.
Visa Europe said in a statement at the time: “Visa is currently experiencing a service disruption. This incident is preventing some Visa transactions in Europe from being processed. We are investigating the cause and working as quickly as possible to resolve the situation.”
Other card payment facilitators, such as banks, were also impacted. Lloyds Bank released a statement saying: “We are aware of an industry-wide issue effecting Visa payments which is under investigation. ATM and Mastercard transactions are not impacted. We are working to resolve the issue as quickly as possible.”
Following the outage and with Visa Europe back to full capacity, Visa CEO Al Kelly said: “Our goal is to ensure all Visa payments work reliably 24 hours a day, 365 days a year. We fell well short of this goal today, and we apologise to all of our partners and Visa account holders for any inconvenience this may have caused.”
This could cause a huge reputational damage for Visa, given its market share. Visa accounted for 96.8% of the overall debit card transaction value in 2017; Mastercard only had 3% of the debit cards in the UK in 2017.
While Visa will be trying to recover from the outage, Mastercard could take advantage. In July 2017, Mastercard signed a seven-year contract with TSB – a bank that has had its own outage problems. This would make TSB the biggest issuer of Mastercard-branded debit cards in the UK.
If Mastercard proves reliable in the wake of TSB’s architecture issues, and if Visa makes another mistake, we are likely to see a shift in market share in the UK.
Guest Comment: Back to Cash after Network Crash?
How many of us carry enough cash in our wallets to pay for our daily lunches, lattes and train fares? Last year, card payments overtook cash in the UK for the first time, and it was announced in May that you can even tip buskers in London without handing over cash.
It is estimated that contactless payments now make up a third of all card purchases. Coupled with instances such as the recent Visa outage, payment providers are facing growing pressure to ensure downtime is kept to a minimum. Consumers will favour the most convenient payment options on offer, and if these instances become more regular, they could potentially revert to relying on cash again.
Organisations will need to plan to ensure the chance of transaction failures is mitigated in the first instance, or ensure downtime is minimised when it does go wrong. The industry needs to ensure that, in the case of failure, technology can either be identified at a central location, through data centres, or switched out in-store as soon as the problem arises.
The reliance on this tech has obvious benefits to both merchants, who receive funds into their accounts faster, and also consumers, who benefit from a more convenient retail experience.
The recent Visa outage was accredited to “hardware failure”, affecting thousands of consumers across Europe. The company said its goal is to “ensure [the network] operates 24 hours a day, 365 days a year”, something that all of us – consumers and merchants alike – take for granted these days.
We predict that, regardless of this recent issue, retailers will face increasing pressure to provide more cashless options as consumer demand for tech grows. Consumers have become accustomed to one-click payments online, expecting the same easy transactions when in store. Their shopping experience must be seamless, and as such, data centres and merchant providers need to offer same-day fixes to keep shoppers shopping.
Our recent research finds that retail technology downtime is leaving one in three UK shoppers unable to complete purchases. Although outages such as Visa’s are rare, the survey also found that two-thirds of consumers had experienced wider payment technology hardware failing on at least one occasion. Despite this, customers still want innovation: findings show that three-quarters of consumers support in-store technology that makes their experience as seamless as possible.
Payment providers will have to work closely with merchants to minimise downtime, making sure they experience fewer faulty contactless machines or unresponsive touchscreens. Technological advances will be essential in making sure high-street retail remains an engaging experience for shoppers. If this is to happen, the payment industry and merchants alike will need to work closely to ensure reliable, same-day fixes to failing tech, avoiding lost sales and making sure we continue our love affair with contactless.
Claudine Mosseri, general manager – field support, ByBox


text:
The new electric era has begun. FIA World RX adopted full electrification in the headlining category this year as the series moves towards a more sustainable and environmentally friendly future. Not only that, but the cars are the most powerful and spectacular ever seen in the championship, generating 500kW – the equivalent of 680bhp – and 880Nm of instant torque at the touch of a pedal, resulting in eye-watering acceleration faster even than Formula 1.
BRAID will support Hansen World RX Team through its way for the championship crown. Under this agreement, BRAID have taken the responsibility to design, develop and produce a Forged Rallycross wheel to maximize the performance of their new beast, the Peugeot 208 RX1e.
The Forged RX 17” wheel is manufactured using aerospace-grade 6061-T6 aluminium. Each piece is forged with a 10,000-ton press, then precisely CNC-machined. Special features, such as improved rim profile to run low pressure and anti-rotation system, are also added to enhance is excellent performance.


text:
Companies of all sizes are considering how AI can help grow their business, either by creating efficiencies through automation or by having machine learning source insights from data. As companies look for automation opportunities and internal experts, they should start with the marketing department, not just the IT department. Why? Because in many organizations, the marketing department has the most experience with advanced automation technologies and business process automation solutions -- and they also have the bruises to know how to increase the likelihood that your AI projects will be successful.
eMarketer recently posted research from 500 U.S. B2B marketers on the topic of AI, which found that 75% felt confident about adding AI to marketing and sales efforts. The truly fascinating stat from the study, however, was that automation of manual and repetitive tasks was the second most important benefit. Marketers aren’t just thinking about how AI can reduce basic task burdens; they are focused on how it can improve the business, which is exactly what every organization should be focused on with initial investments in AI.
And while IT teams may be more familiar with business process management (BPM) tools used to map and automate various business processes, marketers have been using very similar capabilities, employing campaign mapping and automation tools and customer journey mapping solutions. These have been generally successful; 86% of B2B marketers polled by Annuitas in Q3 2016 said that marketing automation had been at least somewhat effective in impacting pipeline and revenue.
However, it’s in advertising that marketers have been the true early adopters, using real-time bidding technology for their online ad buys. B2C marketers have long depended on automated bidding for advertising, with 73% of U.S. advertisers' total ad budgets being spent on automated transactions. This is a great example of marketers using intelligent automation to do more than simply reduce routine tasks.
The bigger question is, can we look to marketing for examples of what AI can do to impact business beyond campaign automation and ad buying? I think so. Here are three examples:
Marketers can use chatbots to bring AI into the organization. One of the biggest topics at NRF in January 2017 was chatbots, and how retailers can leverage this technology to drive automation. For traditional retailers that tend to be laggards with new technology, customer service and warehouse stood out as the most likely initial opportunities for conversational AI. For marketers, the excitement about chatbots is linked to finding ways to leverage various messaging services like Facebook Messenger, Viber/WhatsApp/WeChat, Twitter and more, while making them more conversational and able to be measured and optimized the way they have been doing with advertising and email campaigns. While the early experiences on social media might be more frightening than encouraging (Microsoft’s Twitter bot Tay may have scared marketers away from automating tweets or other social media), this is a clear example of marketers finding a way to bring AI into the organization.
E-commerce and media company marketers can use AI to to target content intelligently. Automation has been well-tested by e-commerce retailers, whose business is digital and merchandising can be more easily automated by machine intelligence. While online merchandising is a clear case for task automation via personalization, it works best for organizations with large content/product libraries and lots of data – like e-commerce and media sites. B2B marketers can use personalization for content targeting to leads in the pipeline – prioritizing one piece of content over another in an automated A/B testing methodology and using AI to add intelligence to already automated processes.
B2B marketers can use AI/machine learning technology to improve sales and marketing without depending on IT. Behavior-based segmentation is growing in adoption for B2C, but can easily be automated for B2B given the more limited amount of data points and a traditionally more linear funnel. IT seems to understand the value here, as 58.9% look to use AI/machine learning to do cluster analysis and segmentation. According to Blazent and eMarketer, this is a clear opportunity for B2B marketers to use technology to automate routine tasks and work faster to get answers to improve sales and marketing without dependence on IT.
While IT teams may be the experts in organization-wide deployments of new technology, they can certainly partner with marketing to learn new ways to bring AI into the organization in a more targeted, measurable way. If your organization is looking to take full advantage of advancements in AI, machine learning and cognitive computing, try tapping into your marketers for expertise and best practices.


text:
The Harley-Davidson 338cc motorcycle will be based on the Benelli 302 platform. The document, which lists Benelli’s 2020 plans, said it will be manufactured in China and go into production by June 2020. The document also states that the 338cc Cruiser motorcycle will go into production in June 2020.
So far, there are no pictures of the upcoming Harley-Davidson motorcycle, but the design is reportedly confirmed. The new Harley-Davidson bike will be powered by a 338cc engine. It is expected to be a twin-engine and is believed to be based on the Benelli 302S. For reference, the Benelli 302 300cc motorcycle’s co-twin engine produces 38.5 bhp of power at 11,500 rpm and 26.5 Nm of torque at 10,000rpm.
The new bike is expected to be first launched in China, but it is not confirmed when it will launch in India.


text:
Filter your search results Hide filters
- By Dominiq R.Jul 13, 2020Big K.R.I.T.'s "K.R.I.T. Iz Here" short film is something special.
- May 30, 2020Big K.R.I.T. is celebrating the 10th anniversary of "K.R.I.T. Wuz Here" with a brand new re-release.
- May 4, 2020On the day of its tenth anniversary, Big K.R.I.T has officially revealed that "K.R.I.T. Wuz Here" is hitting streaming services this month.


text:
By Thomas Shambler
Think driverless cars are the only thing Uber is planning on? Think again
When you pull out your phone to order an Uber in ten years' time, you'll probably get a car that drives itself. Then again, you might not get a car at all. The taxi-hailing app is working on technology that would allow for airborne passenger drones that would take users short distances around cities. Speaking at Recode, Jeff Holden, Uber's head of product, said that the company is researching "Vertical take-off and landing" (VTOL) technology. Unlike helicopters, VTOL drones have fixed wings like planes, enabling them to fly silently and take off and land vertically.
Amazon's delivery drones – currently being tested – use similar technology to cut down on noise and extend their range. Holden said that Uber wants to "offer our customers as many options as possible to move around" and that the technology would be available within a decade. "It would change cities and how we work and live," he said, pointing out that taking traffic off the road and into the air would dramatically cut down on congestion. He stated that he expects Uber aircraft would take off and land from the roofs of buildings.
While the idea seems far-fetched, Uber is not the only company researching manned passenger drones. Ehang, a Chinese company, unveiled the 184 (pictured), an autonomous quadcopter drone designed to carry a single passenger. The 184 is expected to be released in early 2017 and is projected to cost US$300,000. Google-founder Larry Page is also a big believer, pledging US$100 million of his own money into start-ups developing this technology.


text:
AICO launches aggressive consumer advertising campaign for 2012
November 29, 2011,
PICO RIVERA, Calif. — Case goods and upholstery manufacturer AICO has announced an aggressive consumer advertising campaign for 2012 that focuses on national magazines.
Chuck Reilly, senior vice president of sales and marketing, said the campaign will start with a two-page spread in the December-January issue of House Beautiful featuring the Hollywood Swank collection, a product of the Michael Amini and Jane Seymour design collaboration.
Most of AICO's past advertising efforts have been trade-related, he added.
"The goal was, and continues to be, building successful symbiotic partnerships with our dealers," said Mike Yarbrough, AICO's director of creative arts. "What better way to ensure the success of our partners than to deliver our brand directly to millions of consumers? All of our efforts will drive traffic to our website and then to our partners through our dealer locator."
Reilly added, "In a business climate where most companies are cutting back, AICO has been fortunate as our business is up, and we want to take advantage of our momentum in the marketplace. We look at consumer advertising as an investment in the future of the Michael Amini brand, which will ultimately have a positive effect on our retail partners."
"I am very pleased with the efforts our team has made in executing this important initiative," said company founder and CEO Michael Amini. "I look forward to the continued success of AICO as our Michael Amini brand is formally introduced to today's consumer."
Most Viewed Articles
Related Content By Author
Mid-August news features acquisitions, Amazon and avenues of growth
Furniture Retail Solutions
Over the past year, our editorial team has been on the road, studying retail – what's working and what challenges even the most established retailers face. Born from these studies is Furniture Retail Solutions – a multi-part series addressing common problems retailers face. Read our first two articles:
RSA Insights & Intelligence
RSA Insights & Intelligence gives you, the retail sales associates, critical intelligence and insights. We make it easier for you to sell by providing actionable tips and key takeaways you can and should use for every sale. Check out our latest two articles:
* Why buying mattresses online is harder than consumers think
* How RSA can capitalize on the adjustable base boom


text:
Renegade wireless carrier T-Mobile reported its earning results for the fourth quarter of 2016 today, announcing impressive results that beat Wall Street’s expectations by 50%.
From October through December, T-Mobile scored a net profit of $390 million, or 45 cents a share. That is a 32% hike from last year’s fourth quarter profit of 34 cents a share, or $297 million. Fourth quarter revenue grew 23.4% to $10.18 billion for the period. Considering that Wall Street was expecting T-Mobile to report profits of 30 cents a share, it appears that T-Mobile topped expectations by a whopping 50%. Revenue also topped Wall Street estimates of $9.84 billion. For the quarter, T-Mobile added 2.1 million net new subscribers
A Mere 1.28% Phone Churn for 2016
The number three U.S. carrier added 933,000 postpaid subscribers in the fourth quarter, and its postpaid phone churn for the quarter declined year-over-year to 1.28% from 1.46%. The Magenta carrier expects to add 2.4 million to 3.4 million net branded postpaid subscribers in 2017. For the year of 2016, the network added 8.2 million net new subscribers. 3.3 million of that amount were postpaid accounts.
In response to the weekend announcement that Verizon would once again offer an unlimited data plan to its customers, T-Mobile announced on Monday that their ONE plan subscribers will now be able to stream HD video and will get 10GB of high-speed data at no extra charge.
“These results are proof that doing right by customers is also good for shareholders. Not only are customers flocking to T-Mobile, but we’re also producing rock-solid financial results including 11% growth in service revenues, 23% in total revenues, 31% in net income and 12% in Adjusted EBITDA year-over-year in Q4,” said John Legere, President and CEO of T-Mobile. “The competition just doesn’t get that customers want to come first! That’s three years in a row that we’ve added more than 8 million customers and taken all of the postpaid phone growth in the industry. The Un-carrier revolution continues in 2017!”
Share Price Benefits from Results
T-Mobile shares closed at $61.60. Down from a mid-morning high of $62.84.


text:
Seoul, South Korea’s exports to Vietnam and New Zealand continued to expand this year, apparently helped by bilateral free trade agreements (FTAs) amid a downturn in global trade, a report suggested Monday.
In the first 10 months of the year, South Korea’s exports to Vietnam surged 11.8 % from the same period last year, according to the report from the state-run Korea Trade-Investment Promotion Agency (KOTRA).
“It is such an inspiring result considering that Vietnam’s overall imports gained only 2.2 % on-year over the cited period,” it said.
The report also noted a sharp rise in shipments of consumer goods following the implementation of the Korea-Vietnam FTA a year ago.
In the January-October period, shipments of consumer goods to Vietnam spiked 14.2%, with shipments of washing machines soaring 102.1% on-year, apparently helped by the removal of Vietnam’s 5% import tariff under the bilateral free trade deal, it said.
An earlier report from the trade ministry said the country’s exports to Vietnam came to US$26.4% in the first 10 months of the year, making Vietnam the world’s third-largest importer of South Korean products after China and the United States.
The positive effect of an FTA on the country’s exports could also be seen in the Korea-New Zealand FTA, which also went into effect a year earlier on Dec. 20, 2015.
South Korean shipments to New Zealand have jumped 17.6% on-year as of end-October, while New Zealand’s overall imports have shrunk 3%, according to the report.
Source: Qatar News Agency


text:
Iran delays release of $235M Indian funds for Chabahar project
Baku, Azerbaijan, Feb. 6
By Emil Ilgar – Trend:
Indian government has set aside a $235 million line of credit for development of Iran’s Chabahar Port since 2015, but is unable to release the first tranche of $150 million due to Iran’s delay to submit a proposal for release of the fund despite several reminders, Indian officials said Feb. 6.
Iran and India signed a deal in May 2015 on development of the Chabahar Port, aimed at opening of a transit route to Afghanistan and Central Asia for Indian goods and products, avoiding the land route through Pakistan.
A year after that, Indian Prime Minister Narendra Modi announced that his country would invest $500 million to develop the project.
“The funds cannot be released without paperwork and this has not yet reached the Indian government. Even reminders from EXIM Bank to Iran have not helped,” a person familiar with the matter told the Indian Economic Times.
“There are apparently no reasons behind Iran’s delay in submitting the proposal for the release of loan,” the person alleged.
As per the memorandum of understanding (MoU), signed during the visit of Shipping Minister Nitin Gadkari to Tehran in May 2015, EXIM Bank is to extend a $150 million line of credit for development of the port complex.
Another $85 million was allotted later following a contract between the two sides for supply of equipment to develop two berths in the port complex, persons familiar with the development told Economic Times.
They said India had offered to release the first portion of the line of credit within four months of the Iranian proposal on the port expansion and development plan, but the proposal has yet to come.


text:
126812 March 31, 2021 23:05 FXStreet Market News
- February PMI at 60.8 was the highest since August 2018.
- March PMI forecast of 61.3 would be the highest since May 2004.
- Consumer optimism was unexpectedly strong in March.
- Markets have been keyed to improving US statistics.
Managers in the manufacturing sector have rarely been as optimistic as they are now.
The Purchasing Managers’ Index (PMI) from the Institute for Supply Management (ISM) is forecast to rise to 61.3 in March from 60.8 in February. The Employment Index is expected to slip to 53 from 54.4 in February and the prices Paid Index should fade to 85 from 86. The crucial New Orders Index was 64.8 in February.
Manufacturing PMI, which polls the business outlook of the sector’s managers, has only been as positive three times in the last forty years: in 2005 for two months, in 1987 for one month and in 1983 and 1984 for seven months.
Manufacturing optimism is simple to fathom, incoming business is setting records.
The New Orders Index averaged 64.25 for the eight months from July to February. This is the highest this gauge has been in 16 years, since the second and third quarters of 2004.
In fact, there has only been one other run of orders as extensive as this in the past four decades and that was during the Reagan boom in 1983 and 1984.
New Orders Index
The $1400 stimulus payment that arrived for most families in March is likely to produce another consumption boom like the 7.6% burst in Retail Sales from the January $600 stipend.
The lockdowns and the induced recession of the past year delayed or blocked many consumer business purchases.Their rebound is the source of the exceptional order flow of the last eight months. Manufacturing firms may also be having a more difficult time sourcing parts and raw materials, lengthening production times and order completion..
Nonetheless, the result has been a sustained manufacturing boom the likes of which has not been seen since the 1980s. .
Factory employment has been the rub. The recovery of the Employment Index has only reached 54.4 in February, despite the optimism in the overall index.
This is far below the excellent labor market of 2017, 2018 and 2019. A time of rising wages and low unemployment for American workers as good as any since 1980.
Confidence among US consumers soared in March.
The burgeoning vaccination program coupled with a reviving labor market, the promise of stimulus payments and a government spending binge, have brought consumer optimism to its highest levels since the pandemic advent last winter.
The Conference Board March Consumer Confidence index rose sharply to 109.7 from 91.3 in February far outstripping the 96.9 forecast. Sentiment is now about half-way between the February 2020 score of 132.6 and the April panic low of 85.7.
Conference Board Consumer Confidence
Separate indexes for the Present Situation and Expectations also jumped in March, to 110.0 from 89.6 and to 109.6 from 90.9.
The Michigan Consumer Sentiment Survey reached 84.9 in March, its highest score in a year, from 76.8 prior, easily surpassing the 78.5 forecast. This index is also about half-way between its February 2020 reading of 101 and the April low at 71.8.
The unexpected strength in both consumer indexes is most likely due to a revival of labor market.
Consumer confidence and employment
The most important ingredient in consumer confidence is employment.
The greatly improved outlook for most Americans in March is not explicable without a recovery in the jobs market. .
Nonfarm Payrolls are expected to add 639,000 jobs in March which would be the highest total since October’s 680,000.
Automatic Data Processing (ADP) saw 517,000 new workers in March, slightly less than the 550,000 forecast but the February total was revised higher by 59,000 to 176,000.
Conclusion and markets
The optimism of manufacturing executives is based on reality and logic.
Orders have poured into factories for more than six months. Consumer optimism is returning with employment and consumption backed by government subsidies, the boom should continue until the end of the year.
Treasury interest rates and comparative economics with Europe and Japan have kept the US dollar and equities buoyant this year.
If the manufacturing outlook rises, especially if the Employment Index jumps, markets will have the confirmation they need for further advances.


text:
Google is trying to find ways to speed up website downloads over mobile connections, reports Bloomberg News.
The reason? Faster Internet is better for business.
When people are waiting for pages to load, they aren’t shopping or viewing ads. That’s hampering everyone from giant Internet companies to local businesses trying to reach customers.
Read more at Bloomberg News.


text:
Capcom has announced its take on the retro console. Called the Capcom Home Arcade, it's a plug-and-play device that comes with 16 preinstalled classics and two 'competition-class' joysticks and buttons.
Video Games April 17, 2019
Capcom added a lot of new items and collectibles in the 'Resident Evil 2' remake, one of which are the Mr. Raccoon Toys. All 15 of them are worth tracking down because breaking them will unlock the Unbreakable Combat Knife.
Video Games January 30, 2019
'Resident Evil 2 remake,' Capcom's second take at the iconic survival horror game, stormed to the top of the UK charts, making the same feat more than two decades ago. The survival horror game knocked off last week's no. 1 "Super Mario Bros. U Deluxe" for the Switch.
Video Games January 29, 2019
Completing puzzles in the 'Resident Evil 2' remake will yield rewards such as weapon upgrades. That said, here's how to unlock Leon's desk to augment the Matilda or the SLS 60.
Video Games January 29, 2019
There's a Special Weapons Case in the underground facility of the RPD in the 'Resident Evil 2' remake. Here's what's inside and a step-by-step guide on how to unlock it.
Video Games January 27, 2019
Capcom has finally pulled sponsored content from ‘Street Fighter V,’ which has received its fair share of backlash. The change is likely temporary as the company finds a new sponsor, however.
Video Games December 28, 2018
'Street Fighter V' will begin displaying ads on stages, costumes, and loading screens beginning Dec. 11. Fortunately, players are free to toggle them off, although others are worried about what Capcom might do next.
Video Games December 10, 2018
For the first time in the series, players will be able to choose who they will use in some 'Devil May Cry 5' missions. However, the game will also have microtransactions, allowing Red Orbs to be purchased with real money.
Video Games September 24, 2018
'Onimusha: Warlords' will be available on PlayStation 2 starting Jan. 15, 2019, with a selling price of $19.99. North American players can preorder the physical version now, but the digital version will be released at a later date.
Video Games August 30, 2018
A new gameplay trailer from Gamescom 2018 revealed the 'Devil May Cry 5' release date. The video on the newest entry in the stylish action franchise focused on Nero and his Devil Breaker arms.
Video Games August 22, 2018
Capcom revealed the release date and system requirements of 'Monster Hunter: World' for the PC. The latest entry in the creature-slaying franchise will launch on Steam sooner than expected and will coincide with the series' arrival to the Nintendo Switch.
Video Games July 10, 2018
Capcom unveiled 'Devil May Cry 5' at E3 2018, revealing a release date of spring 2019. The new 'Devil May Cry' game brings back the hack-and-slash, sword-and-gun gameplay of the franchise, along with the familiar face of Nero.
Video Games June 13, 2018
Get ready for ‘Biohazard 7 Resident Evil Cloud Version’ on the Nintendo Switch, a streaming-only version of 2017’s 'Resident Evil 7.' To play this game, you’d need a stable internet connection at all times.
Video Games May 21, 2018
Capcom is releasing ‘Monster Hunter: Generations Ultimate’ for the Nintendo Switch on Aug. 28. The game bundles everything from previous 'Generations' and 'XX' titles while introducing fresh new elements.
Video Games May 11, 2018
Video game developer Capcom announced the latest 'Monster Hunter: World' update, which is bringing over a new Elder Dragon that can be fought with a new hunting strategy. Kulve Taroth will also have new weapons and materials for new armors.
Video Games April 19, 2018
'Mega Man' invaded 'Monster Hunter: World' with exclusive new gear and some nostalgic music to go along with them. Crafting them, however, involves getting plenty of 'Mega Man' Tickets from a new event quest.
Video Games April 15, 2018
Dante, the hero of the 'Devil May Cry' series, will soon be available in 'Monster Hunter: World' as an unlockable skin. The crossover was announced alongside the launch of the 'Devil May Cry' HD Collection.
Video Games March 14, 2018
The 'Monster Hunter: World' guidebook, which will be released next month, will contain over 1,000 pages of information that will benefit both hardcore veterans and newcomers to the franchise. However, there's a catch for gamers in the United States.
Video Games February 27, 2018
The video game industry started 2018 strong, with the three major consoles all booking strong sales for the first month of the year. The figures suggest that the dominance of the PlayStation 4 might be over.
Video Games February 22, 2018
'Monster Hunter: World' players can now play as Ryu of the 'Street Fighter' franchise. Here's what you need to do to unlock the special armor set, and how much time you have.
Video Games February 18, 2018
Capcom announced a treat for Twitch Prime members along with the new 'Devil May Cry HD Collection' trailer. Subscribers will apparently get 'Devil May Cry' for free on the PC on Feb. 27.
Video Games February 15, 2018
Hey, Nintendo Switch fans. Capcom has some really terrible news for you: don’t hold out on a Switch version of 'Monster Hunter: World' because it would be too difficult to port for Nintendo's hybrid console.
Video Games February 15, 2018
'Monster Hunter: World' is now Capcom's fastest-selling game of all time, beating titles from franchises such as 'Street Fighter,' 'Resident Evil,' and 'Mega Man.' What does the future hold for 'Monster Hunter: World'?
Video Games February 13, 2018
'Monster Hunter: World' set a new franchise record for most number of copies shipped over the launch weekend. To keep the ball rolling for the game, Capcom launched a weird but totally appropriate promotion involving real-world monsters.
Video Games January 30, 2018
Capcom unveiled that a pair of popular 'Street Fighter V' characters are coming to 'Monster Hunter: World'. Meanwhile three armor sets created from fallen 'Monster Hunter: World' beasts are coming to 'Street Fighter V' as costumes.
Video Games January 29, 2018
Now that Capcom has officially launched 'Monster Hunter: World' for home consoles, reviewers have altogether praised the game. The long-running action-RPG franchise is reportedly accessible for both veteran and casual players.
Video Games January 28, 2018
Between the PlayStation 4 and PS4 Pro, it's obvious that the latter can run 'Monster Hunter: World' better. However, the question is, how big is the gap between the Sony consoles in terms of performance?
Video Games January 23, 2018
'Monster Hunter: World' will not be launched on the Nintendo Switch, and its directors explained why in an interview with IGN. The massive creature-slaying game will launch on the PlayStation 4 and Xbox One on Jan. 26.
Video Games January 23, 2018
Capcom's launch date for 'Monster Hunter World' is just a couple of days away. Game directors share what they would love to see in the future like 'World of Warcraft' characters and more.
Video Games January 22, 2018
Capcom has released the highly anticipated season 3 DLC for 'Street Fighter V.' The new downloadable content reveals the Arcade Mode, new and veteran characters, different modes, and much more.
Video Games January 17, 2018
Previously, Capcom confirmed that 'Monster Hunter: World' for PC was delayed to autumn 2018. Ryozo Tsujimoto, game producer, explained why the developer delayed its release.
Video Games January 11, 2018
Capcom revealed some of their 'Monster Hunter: World' products that will be released together with the game. A special Dualshock 4 controller, keyboard, headsets, and more will be available later this month.
Video Games January 8, 2018
For the 30th anniversary of ‘Street Fighter,’ Capcom is releasing an anthology game that contains 12 games from the series. Launching sometime in May 2018, the game will feature online play and an interactive museum.
Video Games December 11, 2017
The Blue Bomber is making a comeback this 2018 in 'Mega Man 11.' It's heading to the Switch, PlayStation 4, Xbox One, and PC, along with all eight 'Mega Man X' games to boot.
Video Games December 5, 2017
A 'Street Fighter V: Arcade Edition' trailer revealed some of the new moves and V-Triggers in the upcoming re-release of the fighting game. It will be sold at $39.99, grant access to all DLC fighters, and introduce two new modes.
Video Games November 20, 2017
The ever-changing ninja Zeku is joining the 'Street Fighter V' roster as the final DLC character for season 2. For the first time ever, he's now a playable character.
Video Games October 15, 2017
Capcom has now announced that a remastered version of 'Okami' is going to be released this December for PlayStation, Xbox One, and PC players. Why is there no Nintendo Switch version, though?
Video Games September 13, 2017
Capcom announced that it will release the 'Resident Evil 7 Gold Edition' on Dec. 12. The special edition will include the Banned Footage Vol. 1, Banned Footage Vol. 2, Not a Hero, and End of Zoe DLCs.
Video Games September 6, 2017
Capcom revealed Menat, the fortune teller from Ed's story mode, as the next character in the growing 'Street Fighter V' roster. She carries with her a crystal ball, and her attacks are heavily based on the item.
Video Games August 28, 2017
Capcom revealed details of all the offline and online game modes of 'Marvel vs. Capcom: Infinite' along with its full launch roster. The crossover fighting game will be released on Sept. 19 for the PlayStation 4, Xbox One, and PC.
Video Games August 18, 2017
Capcom has just announced that 'Resident Evil Revelations Collection' will be hitting the Switch later this year. It contains both 'Resident Evil Revelations' titles for $39.99 or $19.99 each.
Video Games August 2, 2017
'Monster Hunter Stories,' a turn-based RPG spin-off of the 'Monster Hunter' franchise, will launch for the Nintendo 3DS on Sept. 8. To give players a closer look at its art and gameplay, a free demo will be released next week.
Video Games August 1, 2017
Abigail from 'Final Fight' will arrive in 'Street Fighter V' on July 25 as the fighting game's newest character. Abigail can be purchased with in-game money or acquired as part of the Season 2 character pass.
Video Games July 17, 2017
Capcom has now confirmed that Jedah Dohma from 'Darkstalkers' will join the 'Marvel vs. Capcom: Infinite' roster. A gameplay video showcasing both him and and Gamora from 'Guardians of the Galaxy' has also been released.
Video Games July 16, 2017
The full roster of 'Marvel vs. Capcom: Infinite' has been datamined, and it shows that the upcoming fighting game might have a playable Elder Dragon from 'Monster Hunter' but no 'X-Men' superheroes.
Video Games June 16, 2017
Feature | Science


text:
Jeffree Star Responds To Controversy For His New Death Themed “Cremation” Palette
There’s no such thing as bad publicity, right?
Well, the “self-made Makeup Magician” Jeffree Star has just shot straight to the top of the YouTube charts and Twitter trends with the launch of his latest, albeit controversial, collection.
And now, more people are turning to makeup as a way to lift their spirits and have fun during this pandemic. But, Jeffree Star’s new collection has people gasping at the cheek – because as the death toll rises and people are unable to bury or host funerals for their loved ones, he’s released a collected titled, “Cremation”. Yeap.
The CEO of Jeffree Star Cosmetics and mother of six Pomeranians announced the upcoming release and name of his new palette via his personal Instagram account last Friday and fans are… split. Some have called his collection “insensitive” and “tone-deaf”. It doesn’t help that his post includes the caption,
Get ready to be deceased,”
View this post on Instagram
Introducing the #CREMATED eyeshadow palette & collection!!!! ⚱ This one of a kind spooky @jeffreestarcosmetics 24 pan gothic dream will wake up the makeup world! The FULL reveal video will be on my channel TOMORROW morning!!!! 🖤 Get ready to be deceased. Extreme payoff. 🕊 With our iconic mattes & new extreme sparkle metallic formula 🤍© #jeffreestarcosmetics #vegan #crematedpalette
Yikes. Calling it a “one of a kind spooky gothic dream”, Star captioned the palette a “wake up” for the makeup world. The 24-pan palette is part of a larger collection that is set to hit shelves on the 22nd of May, with the collection sporting marbled designs all throughout. Star went into more detail on Saturday, when he released a video dedicated to explaining the palette, as he’s done with his previous products. The 23-minute video has already amassed almost 6 million views and reached #1 on the platform.
The death motif is strong with this one. Star explains that the palette will contain an array of “weird” shades, from “beautiful ugly grey tones” to “pure cocaine white”, with names like “RIP”, “Eulogy”, “Obituary”, and “The Morgue” (and some still wonder why people are up in arms?). Star does explain that the new May release date was the result of postponement from the original date of April. However, he notes that the COVID-19 pandemic “had the whole entire beauty industry, of course, as well as the entire planet, SHOOK.” Star also explains that the name was inspired by his catchphrase, “I’m deceased”, that the makeup mogul uses often in his vocabulary.
Jeffree then took to his Instagram stories let everyone know that they were shocked by how fast the palette has gained attention, sharing that they were “celebrating here at the house”.
Waking up to the #Cremated reveal video at #1 trending!! 😭🤍 THANK YOU everyone for all the love and continuing to let me create gorgeous and weird products! Can’t wait for everyone to play with this in person. https://t.co/fco4ZOyalL
— Jeffree Star (@JeffreeStar) May 17, 2020
But, he also took the time to address the controversy,
There’s always so many meanings with my art. [The palette] is mine — I created it for the world. It’s allowed to be interpreted any way that anyone wants to take it, but I always come from a good place.”
This is after the intense backlash he’s received since the announcement of the collection, with fans holding issue against its branding. As Jeffree himself stated, the collection is now the “talk of the town”. Jeffree mentioned how there has been a lot of talk on Twitter – and that’s an understatement as fans are divided into those that are enthusiastic about its release and those that are condemning the gutsy move.
Jeffree responded by saying that he is “so proud” of his work.
“My own father was cremated, my two dogs that passed away last year were cremated, so nothing ever comes from a negative place in my life. So if you take it that way, that’s how you articulate things, but b—-, not me. It’s f*****g sickening, I love it.”
Fans have revealed that Jeffree trademarked the name way before the COVID-19 pandemic (back in 2019), not expecting what would follow.
Well, hi, how are ya’? After all of that, what do you guys think about the new collection? Yay or nay?


text:
63,000 businesses set to fail
Some 63,000 business will fold by 2006 as the consumer spending slowdown takes its toll, the latest Industry Watch report by consultants BDO Stoy Hayward says.
Business failures rose by 6% last year, with 19,928 firms going under - 383 every week - compared to 18,783 in 2001.
In the current quarter 5,183 business are expected to have failed, but the Industry Watch report sees that figure rising to 5,287 by the fourth quarter.
And between 5,000 and 6,000 businesses look set to fold every three months over the next three years compared to between 4,000 and 5,000 every quarter since 1994.
Shay Bannon, business recovery services partner at BDO Stoy Hayward, said: "This quarter we are seeing the true impact of the consumer spending slowdown on UK companies."
The wholesale sector looks set to see the biggest increase in the short term, with the number of failures expected to have risen by 47% to 333 in the last three months of 2003 compared to 227 in the same period last year.
Travel and transport businesses are also vulnerable with the number of failures expected to soar by 35% over the year.
But in both sectors, while the rate of increase is sharp, the actual number of failures will be relatively small. The number of travel and transport operators expected to go to the wall in the fourth quarter of this year will be just 4% of the total number of business failures.
In terms of volume, the biggest impact will be felt by manufacturers who have already been hit hard by the effects of global economic slowdown.
The Industry Watch study predicts that the number of manufacturers going under will rise by 20% from 750 in the fourth quarter of 2002 to 952 in the final quarter of this year. And in much of 2004 and 2005 more than 1,000 manufacturers will go under every quarter.
Most watched News videos
- Jane Fonda visits an anti aircraft battery camp in Vietnam
- Dramatic moment 19-year-old man is hit by 'Audi' in Derby
- Louise Turpin's sister talks about their unusual sex life
- 'They should be in prison': SAS Hero Bob Curry on Iranian siege
- Surfer dramatically rides large wave off the coast of Portugal
- Police dashcam footage captures 'reckless' Audi S4 driver
- 'I want to marry mommy!': Four-year-old objects to mom's engagement
- Father and son speak out after being brutally bashed in Melbourne
- Philadelphia Eagles fan smacks into pole while running for train
- Comedian Steve Brown talks about being attacked on stage
- The street in Birmingham that makes a family feel TRAPPED
- Team Brady: Gisele cheers on husband Tom and the Patriots


text:
The 3,500-square-foot unit, located one block south at 807 Madison and spread over three floors, is to showcase the French brand’s full product assortment for men, plus an array of made-to-measure suits, from sartorial to slim-fit.
What’s more, Lanvin plans to fly over its master tailor from Paris once a month to offer the elite bespoke service currently only available at its hometown flagship on the Rue du Faubourg Saint-Honoré here. Prices start at 6,000 euros, or $7,365 at current exchange rates.
“We think there’s an ideal customer base for this,” Thierry Andretta, Lanvin’s executive vice president, told WWD, describing a “sophisticated and wealthy” clientele in the financial capital.
Hermès and Ralph Lauren are among other luxury players on the renowned strip operating men’s and women’s units in close proximity.
Andretta noted Madison Avenue should boost the profile of Lanvin men’s wear in America, already its number-one market for men’s wear at wholesale. Italy is second.
Lanvin already boasts dedicated corners for men’s wear at Barneys New York and the Bergdorf Goodman men’s store.
Men’s wear will also get a ground-floor showcase in Lanvin’s forthcoming Chicago location: a 3,500-square-foot boutique slated to open in October on Oak Street. Andretta said women’s ready-to-wear and accessories would occupy the first floor, and noted the unit, formerly home to specialty retailer Ultimo, could expand to additional floors in the future.
The New York and Chicago locations are to be outfitted with the latest evolution of the Lanvin decor, masterminded by its creative director Alber Elbaz, Andretta noted.
Men’s wear represents about a third of the total Lanvin business. “I think we have a great opportunity,” he added.
Lanvin already operates three men’s-only boutiques in Hong Kong, plus one on Savile Row in London.
Andretta noted that Lanvin also recently opened a 940-square-foot pop-up for men in Malibu Village in California, just steps away from a women’s location.
He said he’s confident that seasonal unit will do well, given that Lanvin’s luxurious but fun brand ethos goes down well with Malibu’s well-heeled, surf-savvy population.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)


text:
Speculation about the long-term ramifications of bitcoin and the blockchain abounds: Cash will be obsolete.Litecoin price prediction July 31st Litecoin price prediction July 31st recent uptrend.The price.In August the rise has been continuing despite the fact that there was a fork in the network that led to the.The Bitcoin prediction tool is a unique artificial neural network that predicts future Bitcoin price movements on.What is increasingly likely is that the future of bitcoin is bright.What makes predicting long-term bitcoin prices so interesting is the fact that they are so difficult to predict.With all the speculation about Bitcoin and an exciting 2013 behind us, I thought that a list of predictions for 2014 would be a good way to start this year.Intelligent Mine Management a Reality with easyMINE New Slack Scam Causes Edgeless ICO Investor to Lose 200 Ether Ethereum-based Lottery Platform KIBO LOTTO Reaches Final Stage of Implementation The Part II of the Hit Trilogy by Max Zaslavsky Is about to Hit Amazon on October 6.
Bitcoin & The Future Of Currency: Challenges, StrategiesThese predictions are to be expected as Bitcoin grows in the future.She is a senior writer at Inc. testimony at a hearing Tuesday on the future of Bitcoin regulations in New.
Bitcoin Future Is Bright, Just Be Patient: Bitcoin Investor Vinny Lingham.Bitcoin Cash Price Prediction Bitcoin Cash Price Prediction Making predictions in the cryptocurrency market is. but also as tools to help shape the future of.
Bitcoin Future Value Predictions | | OneX BTC
Aggregating Bitcoin price predictions for 2016 shows a bullish forecast from analysts, commentators and users.By 2030 over 10% of all global financial transactions will be conducted through Bitcoin or Bitcoin. 33 Dramatic Predictions. predictions of the future.
Will 2015 be bitcoin's year? - cnbc.comWelcome to final part of the four part series asking Bitcoin experts to share their views on what the future holds for Bitcoin. But seeing as the prediction of.The price of Litecoin is trading in a narrow range between 3.3 and 3.
Bitcoin Cash Price Prediction: Will BTC Be Affected byLitecoin is very much like Bitcoin, only instead of mythical Satoshi it has a publicly known figure attached to it.One paragraph of this post is dedicated to bitcoin, albeit they did not see a bright future for this cryptocurrency.
Is Bitcoin the Future? - Forbes
Will Litecoin Price Go Up – Future Prediction – WillRecently, a Bitcoin Exchange called ICBIT quietly introduced a.What are your Ether and Bitcoin prices predictions by end of 2017.
Bitcoin saw a major. some are claiming victory and predicting even more success for the future.
One computer gamer who is lives in London bought bitcoins in 2010 he sent totally 105 USD for bitcoin, Now his bitcoin market value is 87.500.000 USD.JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium.Bitcoin is being treated as a serious currency by investors, entrepreneurs and the government.


text:
London taxi drivers consider legal challenge to credit card changes
Tuesday, 25 October 2016
Taxi drivers in London are deliberating a legal challenge over Transport for London’s proposal which will require taxi drivers to accept credit cards as payment.
The London taxi union, United Cabbies Group, stated that they had pursued legal advice on whether or not they should challenge the credit card rule. The group went on to say that they were planning to stage a protest in Whitehall later this week; however, after the Mayor of London, Sadiq Khan, offered £65m in grants and the use of new routes, the group said that they may cancel the protest.
The taxi industry has been shaken with the introduction of the car-hailing app Uber. And last year, this new competition propelled them to overwhelmingly endorse a proposal to require credit card machines in the passenger section of taxis. This proposal includes raising fares in order to cover fees, and consequently, has proved unpopular with some.
Another taxi group, Action for Cabbies, brought forth a separate legal challenge, but it was dropped after being denied a judicial review.
The cutoff date for taxi drives to present readers has been extended from October 3 to October 31. A TfL spokesperson declared that their consultation revealed that the new plan had the endorsement of 86pc of respondents.
Uber weighed in on the issue with a spokesperson stating, “Passengers rightly expect to be able to pay by card these days, rather than have to stop at a cash machine”


text:
Company, a global business consulting firm in conjunction with TBWA, has revealed that Nigeria, Kenya, South Africa, Libya and Ethiopia are among the fastest growing consumer marker in Africa. It shows that consumers have become a major economy drive on the continent and it is expected to drive growth at an average of 5% in the next 10 years.
The report known as the “The Challenging Face of The African Consumer” indicated that majority of African urban consumers are spending their income on disposable incomes like groceries and clothing. It says the growth of the youthful population in these countries is expected to bring the African economic growth at 5% over the next decade.
It is projected that food and consumer goods will account for $185 billion (Sh15.44 trillion) of Africa total gross domestic product over the next 10 years. Food and beverages, which offer the most lucrative opportunities, currently yield $ 406 billion but this figure is expected to increase to $543 million over the next decade. 10% said they spend it on clothing and 6% on telecommunications.
This figure is higher than BRIC nations where only 23% of their incomes are absorbed by groceries, clothing takes 10% and telecommunications is 4%.
The report, which covers from September last year till February this year, was conducted among 15,000 households in 10 cities in the most rapidly growing African economies. It predicted that the wholesale and retail sectors would increase the value of consumer-related industries to over the next 10 years. It focused on groceries, apparel, telecommunications, financial and health services.
This is the second of such report made by McKinsey to research into the African consumer market in a bid to understand their attitudes, behavior and how they make consumer decisions. The study will also make prospective investor understand the opportunities in the region.
The United Nations predicts that the continent will account for 40 per cent of the global population, thus it is expected to help grow the consumer market in the region. Africa has a young population, with 50 per cent being below the age of 20.
The report says the increase in youthful working population is expected to improve Africa’s economy at five per cent annually for the next 10 years while Kenya is expected to reap the benefits of this projected growth as a result of its strategic location as a gateway to many East and Central African countries.
Economic growth in Sub-Saharan Africa remains strong and is expected to rise above the 4.9 per cent recorded in 2011, according to the World Bank.
Of the ten countries studied Kenya and Senegal have the highest penetration in the region. Affordable data and smart phone penetration are the main drivers in Kenya while cyber café prevalence has stimulated Internet growth in Senegal. The study showed that on average most people in the region are using both computers and mobile phones to access the Internet with social networking leading the activities online. Majority of Africans access social network sites by phone (57 per cent) compared to 55 per cent on computers.
The study showed that Africa has a high Internet penetration more than Brazil, India but is equal with China. Africa continued to have the highest Internet penetration with Kenya and Senegal ranked in terms of Internet penetration. Kenya came in first as a result of cheap Internet enable phones. The development is expected to change the perception of international companies on Africa. Many are already scouting to partner with locals to start their operation within the continent.
The report further shows that African economies have produced some of the highest profit margins in the world, but it warned that this would be diluted in the near future.
“Profit margins in Africa are some of the highest in the world, but the gap will narrow going forward as more big companies set shop in the continent,” said Mr Damien Hattingh, a partner at McKinsey. He said that the emerging middle class that is seeking more luxurious commodities has buoyed the rapid growth in the consumer market.
Mr Hattingh noted that the research will also help change some of the perceptions out there including that Africa is a dumping place for cheap goods and consumers are happy as long as the price is right.
The development is expected to usher in a change in the perception international companies have of Africa. “The consumer opportunities are real and reaffirming….and consumer goods companies are opening up fast in many African economies and are expected to fuel long term growth.” indicated the report.
Early entry into African economies provides an opportunity for global businesses to create markets, influence customer preferences, and establish brand loyalty.
The growing consumer market has created several opportunities for global companies like Wal-Mart and KFC.