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National Economic Update
Gains in Employment, Consumption Mark Start of Fourth Quarter
December 20, 2013 · Update in PDF
Economic indicators released in November and December present a picture of modest to moderate growth in the second half of 2013.
Output growth for the third quarter beat analysts’ expectations, mostly due to unexpectedly strong growth in private inventories. The employment situation showed improvement in October and November, driven by payroll gains and another decrease in unemployment.
In addition, real consumer spending data for October and retail sales data for November indicate a stronger pace of consumption growth in the fourth quarter. Headline inflation measures trended down, but core measures, by and large, continued a long pattern of stability.
Output Rises Sharply, but Underlying Detail Less Robust
Real gross domestic product (GDP) grew at an annualized rate of 3.6 percent in the third quarter (Chart 1). This shows strong acceleration from the first half’s average annualized rate of 1.8 percent and represents a significant revision from the previous third-quarter estimate of 2.8 percent. Almost half of the third-quarter growth, though, was driven by the change in private inventories, which contributed 1.7 percentage points to real GDP growth over the quarter. Compared with growth in final purchases, a surge in inventories says relatively little about the economy’s underlying strength. A positive contribution from inventory investment is as likely to be followed by a negative contribution as it is by another positive one.
Real personal consumption expenditures (PCE) contributed a single percentage point to third-quarter real GDP growth as real PCE grew at a very modest 1.4 percent annualized rate—below its average 2 percent rate over the first half of the year. Nonresidential fixed investment contributed 0.4 percentage points, in line with its first-half average, although that contribution came almost entirely from investment in nonresidential structures. Investment by businesses in equipment posted a zero percent growth rate for the quarter.
Among the bright spots in the third-quarter GDP release were a healthy positive contribution from residential investment and—for the first time since third quarter 2012—a positive contribution from real government expenditures. A mild drag from federal government expenditures—at –0.1 percentage points, smaller than in the past few quarters—was more than offset by a 0.2 percentage-point positive contribution from state and local government expenditures.
Early Fourth-Quarter Data Mixed; Spending Looks Strong
More current data have been mixed, but, on net, positive. The Institute for Supply Management (ISM) nonmanufacturing business activity index declined in November to 53.9, closer to its postrecession lows than to its postrecession highs. Given that the index has been strongly positively correlated with real GDP growth in the past (Chart 2), this decline may point to weaker output growth in the fourth quarter. In contrast, November readings on industrial production (up 1.1 percent) and the ISM manufacturing index (which reached its highest level since April 2011) point to upswings in activity.
Perhaps most important, given the recent tepid growth in real PCE, consumption spending looks to have begun the quarter on a strong note. The monthly personal income report for October showed real PCE increasing 0.3 percent at a monthly rate, or 3.8 percent annualized. While much could change as data for the second and third months of the quarter come in, based solely on October’s reading, real PCE growth in the fourth quarter projects to an annualized rate of 2.4 percent—a full percentage point higher than the third quarter growth rate.
Real PCE data for November come out Dec. 23. In the meantime, retail sales for November are available. These data are nominal—so their value can be affected by price changes—and they neglect services, which make up the bulk of consumption expenditures. Nevertheless, they can give some indication of the strength of consumer spending. November’s data look quite robust. Retail sales excluding sales at gasoline stations—which are especially sensitive to price swings—rose 0.9 percent in November, their fastest rate of increase since September 2012.
Labor Market Sees Solid Gains in October, November
Employment reports covering October and November show continued improvement in labor market conditions. Total nonfarm employment grew by 200,000 in October and 203,000 in November—the first back-to-back increases of at least 200,000 jobs since November and December of last year. Private sector nonfarm payrolls increased by 196,000 in November, while the government sector added 7,000 jobs. Also, upward revisions to payrolls in August and September brought gains over those two months to a combined 413,000 jobs. For the year through November, nonfarm payroll gains have averaged 189,000 jobs per month.
The unemployment rate, which had ticked up from 7.2 to 7.3 percent in October, declined sharply to 7 percent in November (Chart 3). Importantly, November’s decline came even as the labor force participation rate ticked up to 63 percent from 62.8 percent in October.
Gas Prices Weigh on Headline Rates; Core Measures Mostly Steady
Headline Consumer Price Index (CPI) inflation, on a 12-month basis, was 1.2 percent in November after dipping to 0.9 percent a month earlier. Headline PCE inflation, available only through October, was 0.7 percent on a 12-month basis. Falling gasoline prices have been a drag on headline inflation rates over the past several months. For the 12 months through November, the seasonally adjusted price of gasoline in the CPI was down roughly 6 percent; the 12-month decline through October was an even deeper 10 percent.
Core inflation measures, which have shown varying degrees of deceleration over the past two years, have been mostly stable over the past several months (Chart 4). CPI-based core measures—like the Federal Reserve Bank of Cleveland’s median CPI, the Atlanta Fed’s sticky-price CPI or the more conventional CPI excluding food and energy—have been steady in a range of 1.7 to 2 percent on a 12-month basis in data through November.
PCE-based measures have been running at a noticeably lower level, between 1.1 and 1.3 percent. The Dallas Fed’s Trimmed Mean PCE inflation rate—a good indicator of the underlying trend in PCE inflation, as well as a good predictor of future headline PCE inflation—has been steady on a 12-month basis at 1.3 percent for the seven months through October.
—Alan Armen and Jim Dolmas
About the Authors
Armen is a research assistant and Dolmas is a senior research economist and advisor in the Research Department at the Federal Reserve Bank of Dallas.
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This week, Barry Silbert posted a tweet saying the new Coinbase exchange had exceeded Bitstamp and BTC-e trading volume for the first time. Silbert is the Founder of Digital Currency Group, a company building the foundation for the digital currency revolution by supporting new startups and ideas Bitcoin ecosystem. He is also the creator of the Bitcoin Investment Trust, as well as the founder of SecondMarket, a platform that manages private investment funds.
It was on the 12th of February when Barry claimed over twitter that the exchange “trading volume had eclipsed Bitstamp and BTC-e for the first time.”
Security issues have been slowing down mainstream adoption, and the new Coinbase Exchange wanted to solve this problem. Coinbase seems to be committed to starting a new, totally regulated market that will be in full compliance with financial laws, affording safety assurance to its customers. This sense of security seems to be the engine behind the increasing volume in the exchange. Just by being regulated in some of the individual U.S. states makes investors see the Coinbase Bitcoin Exchange as much safer than foreign exchanges.
Until now, U.S. Bitcoin traders were forced to use foreign exchanges. This was a risky deal, since the lack of regulation, inadequate security, made it extremely difficult to get U.S. dollars in and out of these exchanges. Now with the new Coinbase Bitcoin Exchange, U.S. investors have access to a domestic exchange that is fully compliant, which makes them feel safer when doing business.
The Coinbase Exchange is not available in the entire United States, though; the company has only acquired licenses to operate in 25 out of the 50 states. In the remainder of the states, Coinbase is either awaiting approval for its license applications, or is waiting for states to take a clear regulatory position on Bitcoin.
The spike in trade volume on Coinbase appears to be directly related to the promotional fee free trading the exchange is offering until the end of March. Traders seem to be taking advantage of this promotion to increase their trading profit margins.
Buy orders been growing consistently ever since the launch, suggesting that Coinbase’s fully compliant Bitcoin exchange is increasing mainstream confidence in the digital currency.
The Winklevoss Twins’ Gemini project is also expected to have a great impact on the Bitcoin market. Gemini is another Bitcoin exchange that will be fully compliant with financial laws upon launch. The Winklevoss Twins hope that, by opening a fully regulated Bitcoin exchange, they will be able to convince mainstream investors that Bitcoin is a secure asset worth purchasing.
What do you think about the Coinbase Exchange? Let us know in the comments below!

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Established in 1915, Haigh’s Chocolates is Australia’s oldest chocolate manufacturer. The fourth-generation, family-owned company has six stores across the country, including its original shop in the Beehive Building on Adelaide’s Rundle Mall.
The company now makes and distributes more than 250 products - including the iconic Easter Bilby - at its factory just out of Adelaide city centre.
The Haigh’s distribution centre manages up to 800 pallets with 100 to 120 transfers through the warehouse each week - and this doubles at Christmas and Easter. Not surprisingly, Haigh’s Distribution Centre Supervisor David Elliot said managing so many pallets was a challenge.
“When we were getting the CHEP account in and we checked our pallets, we found we had more pallets than what we were being invoiced for,” said Elliot. “In warehousing terms, it’s just good governance to ensure the stock you hold matches your invoice.
Haigh’s turned to CHEP to find a solution. “For us, our priority is to make sure we have our fine chocolates on the shelf, so when we came to a logistical obstacle with our pallets, we went straight to CHEP to draw on their asset management experience,” Elliot said.
CHEP’s Asset Management Consultant, Rachel Silby, worked with Haigh’s to resolve the issue.
“We sat down with Haigh’s, went through their problems and helped them implement simple processes to resolve their issues,” Silby said. “As a result, Haigh’s now has full transparency of their pallet management throughout the supply chain.”
Rachel set up an asset management system to reduce the administration workload for Haigh’s. In addition, CHEP conducts a pallet count every month for Haigh’s. This helps identify any discrepancies and they can be dealt with immediately.
“We went through our current processes and were given suggestions and ideas on how to improve and be more cost-effective,” said Elliot. “It’s taken a couple of hours off my weekly task.
“To have CHEP’s knowledge of the system right behind Haigh’s has helped us in dealing with our suppliers. We’ve seen much quicker and more permanent responses to remedying discrepancies on our account.
“Also, simple strategies such as tagging and tracking pallets have helped us locate our assets and make our logistics process more effective. We’ve also started using the Portfolio+ Plus system for ordering pallets, doing transfers, making corrections and keeping track of paperwork.”
Having addressed their pallet logistics issue, Haigh’s can now make sure the Easter Bunny - and the Easter Bilby - always runs on time: “We now always know there are enough pallets in our manufacturing warehouses to cater for our demand of our outgoing goods,” Elliot concludes.


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Supercar and niche vehicle manufacturers have been given more time to switch to zero-emission powertrains after the EU agreed to push back the end of their special arrangement on CO2 until the end of 2035.
Automakers such as Ferrari, McLaren and Aston Martin could have had to meet tougher limits as early as 2029. Instead, the derogation that allows brands that sell fewer than 10,000 cars or 22,000 vans in the Europe to negotiate specific CO2 targets will last six more years.
The time extension is seen as a concession to Italy, home to Ferrari, Lamborghini and Pagani, after European environment ministers reached a deal on Tuesday to ratify the European Parliament’s vote earlier in June to mandate that vans and cars sold by 2035 had to be zero emission.
Italy had been one of five European countries arguing for an extension to the deadline to 2040.
“As far as niche producers are concerned, the exemption is up to the end of 2035,” Agnes Pannier-Runacher, energy transition minister in France, said in answer to a question at a press conference following the EU agreement.


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2 Mins Read
As Impossible Foods expands its retail distribution to over 11,000 locations nationwide in the U.S., the company reports that the vast majority of its sales are now coming at the expense of animal-derived meat. These figures emerging from recent weeks is an indicator of how consumers are now increasingly choosing plant-based alternatives over animal counterparts as the coronavirus pandemic exposes the dangers of the meat supply chain.
Now supplying its plant-based meat alternatives to more than 11,000 supermarket locations in the U.S., representing a 77-fold jump in its retail footprint within just 6 months time, Impossible Foods is reporting that its sales are replacing animal meat purchases. According to data collected by Chicago-based analytics firm Numerator, 92% of sales of its famous bleeding plant-based Impossible Burger is directly displacing animal-derived meats from consumers who are actively shifting away from all meat categories.
“Three out of four Americans now live within 10 miles of a grocery store where they can buy Impossible Burger. And when people cook it at home, they start telling friends and family about it,” said Dan Greene, the brand’s senior vice president for sales. “Our retail surge has become a powerful flywheel for long-term growth.”
Impossible also revealed that a significant portion of its retail sales growth has come from consumers in the U.S. who are trying its plant-based products for the first time, with the percentage of first-time customers doubling every single month since April. This is in line with the broader shift towards all plant-based alternative meats recorded in the country since the pandemic struck, as shoppers become increasingly concerned about food safety, health and sustainability while the meat supply chain faces unprecedented challenges due to widespread slaughterhouse outbreaks.
Three out of four Americans now live within 10 miles of a grocery store where they can buy Impossible Burger. And when people cook it at home, they start telling friends and family about it. Our retail surge has become a powerful flywheel for long-term growth.Dan Greene, Senior Vice President of Sales at Impossible Foods
Made primarily from soy protein, coconut oil, sunflower oil and potato protein, Impossible’s plant-based burger leaves a far lighter footprint on the planet while containing all the nutrients you would get from real meat, including protein and iron. According to the brand, each burger uses 96% less land, 87% less water and emits 89% fewer greenhouse gas emissions compared to its animal counterpart – making every sale that comes at the expense of the latter a step forward in reducing the footprint of our diets.
In addition to its flagship product, Impossible has launched Impossible Sausage, a plant-based pork patty that is now on Starbucks menus nationwide. It recently launched the Impossible Sausage in Hong Kong in partnership with Starbucks and a number of restaurants across the city, marking the product’s first international launch.
Lead image courtesy of Impossible Foods.


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With Halloween fast approaching, it’s only fitting that Hardy’s new music is embracing some dark and scary undertones, but some of his subject matter is much scarier than haunted houses or things that go bump in the night. He got the ball rolling on those... Read More.
Former Pink Floyd singer/bassist Roger Waters kicked off his long-delayed This Is Not a Drill Tour of North America last night at the PPG Paints Arena in Pittsburgh. As seen in fan-posted videos and photos, Waters and his band performed in the round on a... Read More.
(NEW YORK) -- After undergoing a major brand revamp, Victoria's Secret has continued to roll out new, inclusive launches including it's recent venture: Happy Nation. The lingerie retailer announced the new brand on Tuesday and revealed that it is a fully digital brand for tweens... Read More.
Last year, KISS singer/bassist Gene Simmons and the Gibson company announced that they had partnered to launch a new line of electric guitars and basses called G2, pronounced G-squared. Now the first offering from the brand has been released: the G2 Thunderbird Bass. The instrument... Read More.
(NEW YORK) -- Lizzo is known for making fans feel "Good as Hell" with her music, and now she is doing the same with an upcoming shapewear line called Yitty. "This is a dream 5 years in the making" the Grammy Award-winning superstar wrote on... Read More.
(NEW YORK) -- As the world aims to figure out ways to live and shop more sustainably, Target is adding to those efforts with one of its latest initiatives. The brand announced Target Zero this week, which essentially gives shoppers a better idea of which products... Read More.
(WASHINGTON) -- Rep. Ilhan Omar, D-Minn., introduced a bill on Tuesday calling for strict limitations on no-knock warrants in drug-related investigations. The bill, named for Amir Locke, would also ban "quick-knock" warrants, nighttime warrants, and the use of explosive devices, chemical weapons, and military grade firearms... Read More.
Rock guitar virtuoso Steve Vai released his latest studio album, Inviolate, last month. On the nine-track instrumental collection, Vai's impressive technique, inventiveness, melodic sensibility and knack for showcasing various influences are on full display. Vai's music could be described as otherworldly,... Read More.


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Mukesh Ambani, the wealthiest individual in India and the leader of Reliance Industries, is the owner of Hamleys, the world’s oldest toy emporium. Founded in 1760 by William Hamley, this storied toy haven, with a history spanning around 260 years, overcame numerous challenges before emerging successfully. Changes in ownership have also marked its journey.
Reliance Industries acquired the establishment in a full cash transaction valued at Rs 620 crore (equivalent to GBP 67.96 million).
In a disclosure filed with the Bombay Stock Exchange (BSE), RIL affirmed, “Reliance Brands will acquire the complete equity stake of ‘Hamleys Global Holdings Limited (HGHL)’ for a monetary consideration of GBP 67.96 million.”
William Hamley inaugurated the first store in Hall Bourne, London, in 1760. Later, in 1881, his grandson introduced a new toy emporium named Joy Emporium on Regent Street, earning accolades from Britain’s royal family.
Currently, Hamleys boasts a network of 100 stores dispersed across 36 cities, holding the distinction of being the largest toy retailer in the nation. Notably, more than half of the 190 global Hamleys outlets under Reliance’s ownership are situated in India. Hamleys’ toys have garnered fame among children and their caregivers worldwide.
Billionaire Mukesh Ambani has significantly amplified his international retail investments in recent years, expressing keen interest in acquiring new ventures to complement Reliance’s ambitious expansion plans for its retail enterprise.
Under the guidance of Mukesh Ambani and Isha Ambani, Reliance Retail has achieved a remarkable valuation of Rs 9,26,055 crore, as evaluated by the brokerage firm Bernstein.


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HAGERSTOWN -- A distribution company just outside of Hagerstown with 40 employees is closing.
West Marine Inc., at 19224 Longmeadow Road, will be closed as the company consolidates to a facility in South Carolina, said Rob Ferree, deputy director of the Hagerstown-Washington County Economic Development Commission.
The layoffs will come in phases, and the business is expected to be shut down by Dec. 15.
Laurie Fried, spokeswoman for West Marine Inc., said the Hagerstown distribution center is the only one of the company's three centers being closed.
The business, which distributes marine and boating products, has been in Hagerstown since 1986. It was called Boat America Corp. until West Marine Inc. purchased the company's retail, catalog and wholesale divisions in 2003.


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By Inga SorokinaOn Jan 12, 2018 acura
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STEVE COLQUHOUN WITH BARRY PARK The Bavarian brand has a borrowing plan to circumvent the problem of short range in electric vehicles.
Stephen Ottley. The man credited with developing Apple's successful retail strategy is turning his attention to cars.
Stephen Ottley. Development of Audi's electric sports car, the e-tron, continues to gather momentum.
Hybrid and electric car owners will get $100 off their car registration under a new green rebates scheme announced by the Victorian government on Thursday.
New York City has installed its first car charging station for electric cars and says it plans to buy about 40 of the clean-energy vehicles.
Tim Dornin Three federal government departments are among 28 groups to get first use of Mitsubishi's all-electric car.
Stephen Ottley BMW has released an illustration of its upcoming electric city runabout. Dubbed Megacity Vehicle (MCV), the tiny car is BMW's response to growing concerns about the environment and congestion in...
Barry Park Toyota's petrol-electric Prius may be gentle on the environment but it will hit your hip pocket hard, according to the latest cost of ownership study.
JEZ SPINKS British broadcasting powerhouse sends documentary team on a marathon electric car drive.
BBC's electric drive (2 images)
Toby Hagon Mitsubishi will ship 40 electric vehicles to Australia next month as part of a pilot program to encourage people to switch to zero-emissions transport.
STEPHEN OTTLEY Australians have already begun placing orders for the first mass-produced electric car due to hit our shores, the Tesla Roadster.
Matt Campbell Renault's innovative Zoe electric car needs name change, says French woman Zoe Renault.
BARRY PARK Peugeot plans a worldwide electric charge with its Ion electric car, but it won't be chasing mums and dads to buy the car.
RICHARD BLACKBURN Australia runs the risk of missing out on the first wave of electric cars because of a lack of government support.
Matt Campbell A car with its own inbuilt scooter is tailor made for increasingly congested cities.
2010 Beijing motor show
Toby Hagon Just a decade after building its first car, China's largest independent car maker has revealed plans for a range of electric and hybrid vehicles at the 2010 Beijing motor show.
2010 Beijing Motor Show
Toby Hagon Fresh from the arrival of two new Chinese brands, vehicle importer Ateco says it still plans to have an electric car on sale here next year.
2010 Beijing Motor Show
Chris Harris A Holden-built people-mover concept is one of the stars of General Motor’s Beijing motor show stand.


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Mandy Froelich – The team recalled that the Amazon rainforest was recently crippled by a wildfire that engulfed 906,000 hectares, or 2.2 million acres, of the forest.
Olivia Rosane – The deforestation rate in Brazil’s Amazon rainforest is at its highest in more than a decade, CNN reported Tuesday.
Elias Marat – By 2021, the rainforest could cease to produce its own rain and simply degrade into dry savannah and grasslands.
John Vibes – The newly formed alliance will also be setting up a database to share information about logging, mining, and deforestation.
John Vibes – Maxciel Pereira dos Santos was shot twice in the head on Friday while riding a motorbike through the Amazon.
Elias Marat – “Today we have only one enemy, which is the Brazilian government, the president … and the invasions of non-indigenous people.”
Elias Marat – As people across the globe are increasingly realizing: “The world isn’t dying, it’s being killed!”
Elias Marat – Environmental advocates blasted Brazilian President Jair Bolsonaro, who joked about “setting the Amazon aflame.”
John Vibes – Many are beginning to ask questions about who is responsible for such massive fires in the Amazon.
Jake Johnson – The Amazon rainforest has been devastated for weeks by fires so intense they can be seen from space.
Olivia Rosane – There are a record number of wildfires burning in the Amazon rainforest.
John Vibes – The Brazilian government is harvesting the Amazon rainforest at a dangerous rate.
Joe Catron – While Bolsonaro teams up to destroy the Amazon, pro-environment groups are teaming up to stop him.
Elias Marat – The Brazilian Amazon rainforest has suffered a surge in deforestation in recent months.
Anna Hunt – Oil development in the Amazon continues to rise.
Michael Whitehouse – The Amazon rainforest is facing utter destruction.
Video – This aerial footage of the Amazon forest throughout the region of Marde de Dios, Peru, will likely leave you speechless. It shows the expansiveness and the devastation caused by deforestation and mining of the region.
Anna Hunt – Reforesting trees is vital to the survival of life on planet Earth.
Mrinalini Erkenswick Watsa, Mongabay Waking Times In 1956, in the quiet seaside town of Minamata on the southwestern coast of Japan’s Kyushu Island, cats began to behave very strangely. They…
Accelerating Disappearance of Earth’s Species, Plants and Animals Is Threatening Survival of Humankind
April McCarthy, Prevent Disease Waking Times The accelerating disappearance of Earth’s species of both wild and domesticated plants and animals constitutes a fundamental threat to the well-being and even the…


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Tanimura & Antle newest Peri-Peri Peppadrops were met with an “overwhelmingly positive response” from chefs and buyers in attendance at the recent Produce Marketing Association’s (PMA) foodservice conference in Monterey, Calif., according to officials for the Salinas, Calif.-based company. The cherry tomato-sized red peppers are pickled with the Peri Peri (Piri Piri) spice, native to Africa by way of Portugal and Barbados. The brine is spiced with Peri-Peri, which is a key contributor to the spicy sweet flavor. The inspiration for the product launch came about as a result of a popular restaurant in Laguna Beach, Calif. – Mozambique – which features foods of its geographic namesake for which Peri Peri is a staple ingredient, as well as the rise of ethnic flavors in mainstream in dining.
“Not too sweet and not too spicy, these little peppers are terrific in salads, salsas and dressings too,” said Rick Antle, CEO of Tanimura & Antle, who adds that his sales team is actively distributing the item for both retail and foodservice. The new peppadrops will also be featured at the PMA Fresh Summit in Anaheim in October. For more information about availability and use of Peri-Peri Peppadrops, visit Tanimura & Antle’s website, www.taproduce.com.


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Slush 2018 through a lens, day one
Slush 2018 – what matters is inside, indeed.Credits: : James O'Sullivan
Finland-related innovations took centre stage at the first day of Slush. Take a look for yourself.
Nightingale CCO Kristina Tolvanen (right) and Essi Lyytinen of Aava got ready to demonstrate a new robust concept of health assessment that combines Nightingale’s blood analysis technology with the lifestyle balance assessment of Aava, the fourth largest medical centre chain in Finland. Image: Susanna Lehto
Jari Salo presented the Finnish-made Silmu chair, which is not a chair, but a private space equipped with active noise cancellation, health applications that do not require wearable gadgets, as well as audio and video experiences. Salo hopes that the chair will help people worldwide to fight stress and encourage feelings of the calm, wellbeing and health that Finns enjoy daily. Image: Susanna Lehto
Spark Sustainability CEO Amanda Reijström (left) invited Slush participants to move from climate talk to taking real action by capturing themselves for an Instagram campaign to offset 100 kilos of emissions for each posted image. Based in Finland, Spark Sustainability is making sustainability visible for all and making sustainable choices easier by providing a discussion platform based on daily climate action questions. Image: Susanna Lehto
Good News from Finland played a table hockey game with Quuppa’s Ville Norra to test its accurate indoor positioning technology, which is used also in the Finnish hockey league. The result of the game was not so straightforward, however. Image: Susanna Lehto
The snow may have been nowhere to be found outside, but at least there was a snowman on offer indoors. The Finland stand offered attendees such as Ninni Virkki (left) and Kati Hiltunen from Business Finland an opportunity to immerse themselves in a winter experience by decorating a frosty friend with festive accessories. Image: Susanna Lehto
Russian company Samocat Sharing is installing 50 kick scooter stations around Helsinki in 2019, showcasing the future of city mobility. “Together with the support of Team Finland, we got a great opportunity to come to Helsinki with plans to expand further in Europe,” said founder Vasilii Bykov. “Our next step is to deploy winter pushbikes with Nokian tires, which we hope to have ready in one to two years.”
What would Slush be without an astronaut? Kimmo Isbjörnssund of ESA Business Incubation Centre told about the future of business models that are created to work well in space as well as on Earth. Solar Foods making food from air is just one example. Image: Susanna Lehto
Promoting health and wellbeing, Oura’s content lead, senior data scientist and customer support specialist stuck to their planking routine – an office challenge they started a week ago to live up to their idea of healthy and balanced life. Props to them, since even Slush didn’t disrupt their dedication. Image: Susanna Lehto
Conor Lennon of Tampere-based startup Chargie showed their e-vehicle charging unit, which the company owners hope will help many people to not only charge their e-vehicles, but also to make money by selling their own electricity. In the Nordics, where preheating car engines is a norm due to cold winters, the infrastructure is already in place and the future looks brighter than ever for electric vehicles. “Every person thinking about buying a car should consider buying an electric car,” he said. Image: Susanna Lehto
Good News from Finland is published by Finnfacts, which is part of Business Finland.
By: Julia Helminen


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US business sees dwindling prospects in Cuba
The Havana International Trade Fair is where Cuba puts the best face on its struggling economy.
This week, there are government-run restaurants stocked with fresh food, shiny displays of electric motorcycles from Panama, and dozens of government companies offering goods from cigars and rum to lobster and farmed shrimp.
One dark spot this year was the American section, where the U.S. presence has shrunk from dozens of companies during the Obama administration to a handful today. Some say they might not last another year of Trump administration sanctions.
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Tim Cook has been in China for three days.
On October 16th, he appeared at an Apple store in Chengdu, and shared photos of Chengdu Anshun Bridge taken with an iPhone 15 Pro Max on social media. On the 17th, he visited Yucheng District Fourth Primary School in Ya’an, Sichuan, where he experienced using iPads with students and programmed drones using iPads. On October 18th, Cook was seen at a factory of Luxshare – its major supplier in China – in Zhejiang Province.
China is now the largest market for Apple’s iPhone, and it is also a manufacturing center for Apple.
However, in recent years, Apple has intentionally adjusted its supply chain and deployed the production of iPhones and other products to countries like India.
In March of this year, Cook stated at the China Development Forum that “Apple relies on China. For Apple, China is both a manufacturing center and a rapidly growing consumer market. Apple and China . . . grew together and so this has been a symbiotic kind of relationship.”
However, the market’s response to Apple’s newly released iPhone 15 series has been lukewarm. Research firm Counterpoint Research reported this week that sales of the iPhone 15 series in China decreased by 4.5% during the first 17 days after its launch, compared to the iPhone 14 series.
The impact of Tim Cook’s visit to China on boosting iPhone sales is yet to be observed.
Additionally, China is an important production center for Apple, with approximately 90% of iPhones being manufactured in China. Cook has strict control over the supply chain and has made multiple visits to Chinese supply chain factories. According to Apple’s previously announced supply chain list for the fiscal year 2022, the number of suppliers in China is the highest, far exceeding Japan and the United States. Apple’s global supply chain employs around 1.5 million employees, with a majority located in China.
Nonetheless, outside of China, Apple is gradually shifting parts of its supply chain to other locations. Since 2017, Apple has been manufacturing iPhones in India, although usually older models. However, starting last year, Apple began assembling the flagship iPhone 14 model in India as well. According to Counterpoint data, as of 2022, China accounts for approximately 96% of Apple’s smartphone production and assembly market share, while India holds about 4%. In the fiscal year ending in March this year, Apple’s iPhone production in India doubled and exceeded $7 billion.
A report from Morgan Stanley predicts that the Indian market may account for 15% of Apple’s revenue growth in the next five years. Currently, Apple’s estimated annual sales in the Indian market are $6 billion, and it is projected to reach $40 billion in revenue growth over the next decade.
A recent report by TechInsights also states that India is an important strategic market for Apple in terms of sales and manufacturing, ranking as its fifth-largest market in the second quarter of this year. According to insiders familiar with India’s supply chain from domestic smartphone manufacturers, India supports Apple’s local production and provides certain privileges such as issuing visas to Apple employees compared to other manufacturers.
Luxshare’s stock price was not affected by Cook’s visit to the factory.
As Apple seeks partial supply chain relocation, its suppliers and manufacturers, including Luxshare, are also looking for new business opportunities.
Luxshare not only produces iPhone, Apple Watch, AirPods and Apple Vision Pro but has also entered the Japanese automotive electronics industry through acquisitions. It has been involved in the automotive industry for over 10 years and acquired BCS department under ZF Friedrichshafen AG in 2018. This year, Luxshare has cooperated with Chery Automobile and collaborated with GAC Group to invest in the research and production of intelligent driving control systems.


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holiday - All posts tagged holiday
Apr 17, 2014
3:56 PM ET
Trading is already slowing down in anticipation of Good Friday, with most venues shutting down for the three-day weekend. But not everything is closed. And some trading shuts down early Thursday or stays closed on Friday.
Dec 11, 2012
1:33 AM ET
U.S. retailers are looking for an Australian Christmas present this year.
Australia is now the fastest-growing major overseas market for U.S. retailers, according a Bloomberg report, with U.S. retailers selling online to Australian customers in Australian dollars now including Saks Inc. [SKS], Macy’s Inc. [M], and Macy’s chain Bloomingdale’s.
Specifically, the U.S. retail groups are working to attract Australian consumers who appear to be spending online but not in Australian stores.
Nov 13, 2012
1:25 PM ET
The number of U.S. travelers this Thanksgiving holiday will likely climb this year, for a fourth year in a row, according to press release from AAA issued Tuesday.
AAA predicts that 43.6 million Americans will journey 50 miles or more from home during the Thanksgiving holiday travel period from Nov. 21 to Nov. 25, up 0.7% over those who traveled last year. The increase marks the fourth-consecutive year of growing holiday travelers since 2008, when Thanksgiving travel fell by 25%.
Since Thanksgiving travel hit a decade low in 2008, “we have seen a steady increase in the number of travelers taking to the roads and skies for the holiday,” said AAA President and CEO Robert Darbelnet, in a statement.
- « Previously in holiday
- Next in holiday »
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Discussions surrounding non-fungible tokens (NFTs) suggest that the market is volatile and could be facing some significant challenges soon. But the creators entering the NFT community are responding with the words of former Atlanta Housewives star Porsha Williams, “Who said that?” This week, AfroTech learned about several new NFT offerings, and we are here as your trusted guide to give you the rundown of each one.
May 20, 2022
On March 29, 2022, Gamestop stock ground to a halt on the NYSE. TheStreet reports that stock exchange officials ordered that the popular stock — along with the equally popular, and meme-able, AMC stock — stop its trading on Wall Street, based on the fact that the stocks were trading at a higher-than-usual volume and their prices were fluctuating to the point of volatility. This move, according to the outlet, could result in the successful stock-taking an unprecedented nose dive. “GameStop was last seen trading 6.1% lower on the session at $178.00 each, a move that would still leave the stock up 41% over the past month, while AMC fell as much as 12% before trading 2.1% into the red at $28.80 each,” reports the outlet. This bit of news could come as shock to investors, who may have been under the impression that the stock would rally amidst growing reports of their new NFT marketplace. With this in mind, we decided to put together a brief primer for everything you need to know about...
Mar 29, 2022
GameStop may be in for the long haul. According to an undisclosed source, the company is looking to create a non-fungible token (NFT) marketplace as early as this year. GameStop experienced a massive boom in the stock market following a frenzy originating on Reddit in 2021. The sudden wave in buying led to a shortage among hedge funds which only propelled the movement further, causing stocks to skyrocket over 687 percent by the end of that year, CNBC reports. It’s to no surprise investors have been speculating what the next move may be for GameStop, which reportedly closed nearly 1,000 stores by the end of 2021. Now, Fortune reports, GameStop has shifted its focus from its brick-and-mortar shops to tap into the increasingly popular cryptocurrency wave. And, what’s more, this could be a smart move since the NFT market value is $22 billion, according to The Guardian.
Jan 7, 2022
“Just answer yes or no,” California Rep. Maxine Waters repeatedly said in a recent hearing, “I’m reclaiming my time.” This was Waters’ mood the entire time she questioned Robinhood CEO Vlad Tenev during the “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide,” virtual hearing on Thursday, Feb. 18. Tenev and a group of other CEOs and financial experts were called to testify before the U.S. House Committee on Financial Services following the events of the stock market frenzy on Jan. 25. That frenzy came after the Reddit group of young day-to-day traders called WallStreetBets caught wind of hedge fund short sellers in GameStop last month. When WallStreetBets shared its findings on Reddit, retail investors began grabbing GameStop stock up, driving its share price through the rough, and ultimately costing some hedge funds millions of dollars. Check out what Black millennials had to say about this debacle. Despite this being absolutely legal,...
Feb 19, 2021
This fifth-grader is cashing out thanks to his mom! To celebrate Kwanzaa back in 2019, Nina Carr gifted her son, Jaydyn, ten shares of GameStop stock, according to Black Enterprise. The gift paid off because, last week, shares of the video game retailer increased over 1500 percent, allowing the 10-year-old to cash in over $3,000 in profits. View this post on Instagram A post shared by OnTheDotTv (@onthedottv) Last week the popular Reddit forum, WallStreetBets, stirred up a frenzy that led to investors hitting millions in minutes! Black Enterprise reports a community of traders led a buying strategy that caused GameStop’s price to soar with stock prices going from approximately $18 per share at the start of the year to a 52-week high of $483 on Thursday. “My phone was going off because I have GameStop on my watch list,” Nina tells The San Antonio Express-News. “I was trying to explain to him that this was unusual, I asked him ‘Do you want to stay or sell?'” For Jaydyn, he didn’t...
Feb 1, 2021


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By Della Hasselle and Serena Solomon
UPPER WEST SIDE — Forget the playground, movies or ice cream shops — it seems that kids these days are craving haute couture.
The tents at New York Fashion Week this weekend were teeming with kids as young as 3-years-old, alongside pre-teens in their fashionable best and aspiring teen designers.
All in the company of their parents, the young fashionistas came to the Super Bowl of Fashion for motivation — or simply to bask in the fashion and celebrity atmosphere.
"What better place that Fashion Week to be inspired?" said Natalie Israel, 39, before attending the Tracy Reese show with her daughter Kira, 11, and her father, Jean Paul Fallen, 65.
"She's starting to sew, so it will be nice for her to see how it all works," Israel added. "It's very inspiring for the kids."
Upper West Side parents Jerry Newarth and Karen Castellano, who had brought children Isabelle, 10, and Spencer, 7, to the Tracy Reese show, were also excited about Fashion Week as a family affair.
"We love it," Newarth said. "It gets [the kids] interested in what's happening, gives them a sense of style."
The parents weren't the only ones who were thrilled at the opportunity.
"I was so excited," upstate New York resident Victoria Magnone, 13, said of the moment she found out she had a ticket to a Fashion Week runway show. "I knew that there were going to be lots of famous people."
Magnone, who wore a pink shirt with a cat on it and silver Doctor Martens, came with her mother, sister Isabella and friend Nicole Greco.
Many of the kids came dressed in their best for the event, trying to keep up with the designers, bloggers and models by flaunting their trendiest threads and kicks.
"I am finally able to say I am wearing a brand," said New Jersey resident Ann Kunz, 12, in a black lace Armani dress with a Swarovski crystal necklace.
"I will be honest. I like it because it makes me look thinner," she added, about the dress. "Just because we are kids [it] doesn't mean we don't care."
Kunz and her friend Madeleine Phillips, 12, were in the lobby gushing over platform shoes before seeing the Jill Stewart show.
Maddie Gough, an aspiring 14-year-old fashion designer from North Carolina, had also come to Fashion Week with her twin sister, Nikki. She wore a black lace skirt and a pink top from Forever 21.
"I like lace a lot. I really like the vintage look," she said, adding that she "didn't want to wear all black."
This was Gough's second turn at Fashion Week. The day before, she had attended the Fashion Design School at the Academy of Art University, where she wore a dress she had designed herself that was made from a navy fabric with bow patterns on it.
The girls had been taken by Nikki and Maddie's father David Gough, 53, who flew over from Switzerland to take them to the tents.
"[Maddie] wants to be a designer, [Nikki] wants to be an artist," said Gough, explaining why he went to the effort to get his girls to Fashion Week.
Gough admitted that the kids could probably teach at least one parent a few things about New York Fashion Week.
"I'm clueless [about fashion]," he said. "I'm enjoying taking a lot of pictures of my daughters enjoying Fashion Week."
For all DNAinfo.com's Fashion Week coverage, click here.


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Cuno Inc., spun off as a free-standing company last year, held its first shareholder meeting in decades Thursday amid plans to gain a higher profile in its home state.
The Meriden-based maker of filters for residential and industrial markets was part of Commercial Intertech Corp. of Youngstown, Ohio, until September. Executives told employees and shareholders that the $200 million spinoff was just part of a broader change for the business.
"We're a new company in the sense that we're doing things differently and aggressively," said Paul J. Powers, the chairman and chief executive, who also holds both titles at Commercial Intertech.
The company's strategy calls for faster growth, perhaps through acquisitions, and a push to introduce products sooner and more often.
"We've been building this for a period of time," said Mark G. Kachur, president and chief operating officer. "And now, with the spinoff, we're doing it more rapidly because we can control our own destiny."
As for a higher public profile, Kachur said, "We do intend to participate more in local affairs, community affairs."
The technology-based manufacturer -- with plants in five continents and sales in 65 countries -- has extensive operations and about 750 employees in Connecticut. The Meriden facilities include corporate headquarters, research and a plant. Cuno also has plants in Stafford and Enfield.
Kachur said the company has added staff in Meriden, including "a significant number of senior people," but he declined to give numbers. He and Powers said the company continues to add Connecticut employees in engineering, research, and sales and marketing.
Cuno was founded about 80 years ago by Charlie Cuno, whose inventions included electric cigarette lighters for cars. The company, which was independent and publicly traded for some years, was later acquired by AMF. In 1996, it was acquired by Commercial Intertech.
The company had $179 million in sales in the fiscal year that ended Oct. 31, up from $163 million the prior year. Net income was $5.6 million, or 41 cents a share, compared with $6.1 million, or 45 cents a share. Fiscal 1996 profits would have been $10.5 million, or 77 cents a share, if one-time costs, mostly attributable to the spinoff, had been excluded.
Cuno was able to boost its gross margin -- the ratio of gross profits to sales -- by an average of three percentage points in each of the past four years by focusing on new, high-markup products specially designed for targeted industries and, in some cases, companies.
Cuno is embarking on a public issue of 2 million shares to raise about $30 million. In that effort, chief financial officer Ronald C. Drabik said, "We are trying to generate a local, state and regional awareness."
Thursday, the company showed off its products in the usual ways, and in one odd way: A $600 filter for the pharmaceutical industry was at the center of an arrangement on the refreshment table.


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PayPal announced last night that it is buying European Square competitor iZettle in a deal price $2.2 billion. While this may occasionally elevate questions across the ambitions of European know-how startups, on condition that iZettle had recently revealed its intention to go public, it additionally highlighted how keen PayPal is to spice up its brick-and-mortar aspirations in Europe.
But how does the iZettle deal examine to PayPal’s earlier acquisitions? It seems that iZettle represents PayPal’s greatest acquisition by a hefty margin.
Here’s a have a look at the 5 greatest earlier PayPal acquisitions that we now have figures for. Some of those embrace offers technically accomplished by eBay, as PayPal’s earlier mother or father firm.
1. Xoom (2015): $890 million
PayPal snapped up worldwide cash switch service Xoom for $890 million back in 2015. This was PayPal’s remaining acquisition earlier than it spun out from parent company eBay. The San Francisco-based firm continues to function at the moment as a standalone service inside PayPal.
2. Braintree (2013): $800 million
Mobile and internet funds processing firm Braintree grew to become a part of PayPal’s enterprise in 2013, with PayPal paying $800 million to shut the deal. Braintree remains a key business unit for PayPal today, facilitating funds for ecommerce firms around the globe.
three. Paydiant (2015): $280 million
PayPal purchased out cell funds startup Paydiant for $280 million in 2015, and it continues to function as a PayPal unit below its personal model at the moment. Paydiant gives a variety of companies for retailers and banks, together with a white-label platform for firms to construct their very own cell wallets.
four. Tio Networks (2017): $238 million
PayPal snapped up Canada-based invoice funds companies firm Tio Networks last summer for $238 million. However, all has not gone effectively — PayPal suspended Tio Networks’ operations late final 12 months following a data breach and broader considerations over safety vulnerabilities in its platform.
In March, PayPal announced it would be winding down Tio Networks completely.
5. Swift Financial (2017): $183 million
PayPal acquired Delaware-based Swift Financial last year, with a view to increasing the working capital program for small companies it launched in 2013. Terms of the deal weren’t disclosed at first, however an SEC filing shortly afterward pegged the worth of the deal at round $183 million.
PayPal has made 13 identified acquisitions in its almost 20-year historical past, and although we don’t have greenback values for every of them, we are able to ensure that iZettle represents its greatest acquisition by 2.5 instances. That’s how a lot PayPal desires to infiltrate bodily stores in Europe.


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Entries in 'rising star games' (6)
There have never been more indie games on the market.
Since 2012 we have been spoilt with a near-constant stream of indie titles coming to digital store fronts.
The games industry is undervaluing indie games, say leading publishers.
Two years into Rising Star Games’ evolution from traditional to leading indie publisher, the firm's developer relations man Martin Mathers asks why some firms still see indie developers as cattle ...
Rising Star Games has started a Steam Greenlight appeal to release Deadly Premonition: Director's Cut on PC.
UK publisher Rising Star Games has hired two industry veterans, including Nintendo of Europe’s Martin Mathers.


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When I heard that Nokia (NYSE:NOK) was considering selling its headquarters in Finland to raise cash, the first thought that popped on my head was that Nokia must be very desperate. After all, you don't sell the house you live in to raise cash unless you are either very desperate or you have a wonderful business plan that is fail-proof. Are things going that bad for Nokia?
First, let's look at details of the story. It turns out that Nokia is only considering the sale of the headquarters and the idea is still in its early stages. Furthermore, if the company ends up selling the campus, it will continue to stay in there and become a tenant.
The company could raise between $260 and $390 million from the sale of the campus. At the current rate, the company burns about $300 million per month, which means the sale of Nokia's headquarters would buy the company just another month of survival. On the other hand, keep in mind that Nokia currently has a lot of one-time charges due to the reorganization and reducing the headcount, which should save the company money in the long run. The company's latest cost-cutting measures target at saving the company nearly $2 billion by the end of 2013. The company hopes to invest the money it will raise from sale of real estate into its core operations.
After closing down its last factory in Finland, the company has very limited presence in its home country, Finland. This has led to some speculations that the company was planning to leave Finland and move to another country to get acquired by another company, such as Microsoft (NASDAQ:MSFT). Of course, if Lumia doesn't work out, the company might end up resorting to that. Interestingly enough, as Microsoft denies that it is planning to build its own smartphone, there are rumors claiming that Microsoft keeps the option open as a "Plan B." In this case, I could see Microsoft buying Nokia because the company will need Nokia's expertise, experience, patent portfolio and brand name to build a successful smart phone. Indeed, Microsoft has more than enough spare cash to buy Nokia if the need arises.
In the technology sector, companies often sell their real estate holdings just to lease them. In the recent history, Siemens and Deutsche Telekom have picked the same route. European labor laws make it very difficult for companies to cut costs by reducing their headcount. Nokia has to pay a lot of money to its former and soon-to-be former employees in the shape of severance packages. This makes it difficult for the already-struggling companies to make the ends meet. If a company is burning through cash and trying to cut costs, the last thing it would want to face is huge one-time costs that will accelerate the cash burn in the short term.
On a positive development, the company's mapping business continues to establish itself all over the world. As Apple (NASDAQ:AAPL) attracted a lot of heat due to the poor performance of its mapping software, Nokia is getting a lot of praise for its mapping segment, which may be the only profitable business unit of the company in the short term. Nokia's latest business partners are Oracle (NASDAQ:ORCL), BMW (BAMXY.PK), Mercedes (OTCPK:DDAIF), Garmin (NASDAQ:GRMN) and Hyundai (OTC:HYMLF). Nokia's mapping technology will come in 80-90% of all cars produced globally starting next year. This is an exciting opportunity for the company. The deal between Nokia and Oracle is also important because it will allow Oracle's customers to have access to Nokia's mapping technology and mapping data. So far, most of the consumers of Nokia's mapping technology are individuals rather than businesses. This might come to a change, as Oracle's customers are mainly businesses, and Nokia could use this opportunity to grow in the enterprise sector.
AT&T (NYSE:T) is set to announce its plans to sell the new line of Lumias in a matter of days. We will know details such as the release date and the price of the phone in the U.S. The company is the only carrier that currently sells Nokia's Lumia 900. Verizon is said to be interested in joining AT&T in selling Lumia 920, but AT&T will be the first company to launch this phone. Nokia's phones continue to enjoy the reputation of being indestructible. CNET put Nokia's Lumia 900 through a series of torture tests, which the phone survived successfully.
I am still long Nokia, even though I believe that the company's management has made a lot of mistakes, including but not limited to weak marketing strategies. I believe that Lumia 920 will sell far more copies than Lumia 900 and this one will mark Nokia's turnaround. If not, then Nokia's only hope will be a takeover from another company such as Microsoft.
Disclosure: I am long NOK, MSFT. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.


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Kennett, Missouri – Parker Hannifin Corp.'s hose products division will close its manufacturing facility based in Kennett, the company said in a worker adjustment and retraining notification act (WARN) notice.
According to the notice, the plant will close on 30 Sept. Production will be transferred to other existing locations in the US by the end of that month.
"This was not an easy decision to make given the impact it has on our team members," Parker said in the notice.
"However, this was the only viable option as the demand for the products manufactured at the Kennett facility can no longer support the operating costs."
The move impacts 92 full-time employees, who received written notification on 4 June, according to the WARN notice.
The site produces yarn reinforced rubber hose and will continue its operation until all product lines are operational in their new locations, Parker said in an emailed statement.
"We are committed to easing the transition for all affected team members and we will be offering employment opportunities across Parker,” the company email added.


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Brazil's famous barbecue is getting more expensive as Chinese demand is increasingly swallowing up the country's beef supply, pushing Brazilian cattle prices to a record high.
China's hunger for foreign meat has shot up as an outbreak of African swine fever has decimated its domestic pig population and has sent it looking for substitutes. Chinese imports of Brazilian meat are up 23.6% for January to October against the same period last year, meatpackers association Abrafrigo says.
Wholesale beef prices in the greater Sao Paulo area have consequently hit an all-time high of 13.9 reais per kilogram ($1.50 per pound) this week, according to University of Sao Paulo's Cepea research center, a benchmark think-tank.
That's feeding through and having an impact on consumer prices.
Beef prices have risen 36.4% this year in São Paulo, the biggest consumer market, to 14.69 reais per kg on Wednesday.
"Meat (prices) will continue to rise and this will pose a challenge for the housewife," said Andre Braz, an economist with the Getulio Vargas Foundation, a Brazilian university.
"When beef rises, other meats also rise ... it's a question of substitution," he added.
The price hike comes as Brazilians are set to receive their so-called "thirteenth salary" ahead of the Christmas holiday that is expected to push up domestic demand for meat in spite of high prices, further tightening the market.
"How can you tell someone not to celebrate the end of the year?," Braz said.
China has actively sought to import more meat from Brazil, licensing 24 additional beef plants for export since the start of the year. Only 16 were permitted to do so at the start of 2019.
"We knew that there would be big demand for cows to slaughter, but not of this magnitude," said Péricles Salazar, president of Abrafrigo. "The number of companies licensed by China was really significant."
Total Brazilian beef exports in January to October were 1.5 million tonnes, 11% higher than in 2018, and those to China were 23.6% higher at 320,000 tonnes in the same period.
The weakness of the Brazilian real currency, at nearly 4.2 reais per U.S. dollar, is also encouraging exports.
Salazar said that those meat packers who did not get licenses to export to China are seeing their margins shrink as other export destinations are not offering similarly high prices.
He said the industry expects even more meatpackers to be licensed to export to China yet this year.
Salazar and Braz said the market cannot sustain such high meat prices forever.
Braz predicts that meat prices will start to go down in February or March, provided there are normal weather conditions for grazing pastures and the cattle supply is seasonally higher.


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LONDON (Reuters) - Sage Group's SGE.L sales to new customers in April were roughly half the level expected as it felt the effects of a sharp economic downturn caused by the coronavirus pandemic.
The supplier of software to small and medium sized firms said on Wednesday its organic revenue growth rose 5.7% to 935 million pounds ($1.15 billion) and organic operating profit was up 3% to 213 million pounds for the six months to end-March.
Sage said it still expected recurring revenue to grow in the full year, but it would not be at the 8% to 9% it had previously targeted. Organic recurring revenue rose by a better-than-expected 10.3% in the first half.
“We don’t know what the level of new customer acquisition will be and also we don’t know what the level of existing customer churn will be because of the potential business failures,” Chief Executive Steve Hare said.
Sage bucked a trend among major companies of cutting dividends by raising its half-year payout by 2.5% to 5.93 pence a share.
The company’s balance sheet had been strengthened by the proceeds of a disposal and the cancellation of a share buyback.
“We have the financial resources,” Hare told Reuters. “We are not making use of any government support schemes, we are not furloughing any of our people and I think it’s important that we continue to support all of our stakeholders.”
Hare said Sage was offering support to some customers who were struggling to pay monthly subscriptions after their own revenues were wiped out by lockdown measures.
“We are having lots of conversations with our customers,” he said. “On a case-by-case basis we are offering some payment forgiveness short-term, it is very much a targeted approach.”
Sage shares were up 3% at 675 pence at 0900 GMT
Reporting by Paul Sandle; Editing by Louise Heavens and Alexander Smith
Our Standards: The Thomson Reuters Trust Principles.


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If the fashion world hosted a popularity contest—as if it’s not built on the concept of competition already—who would come out on top? With over 10 million Facebook followers, it seems that British house Burberry is unstoppable when it comes to social media. The brand known for its signature plaid is officially the most-liked luxury label on Facebook—only Victoria’s Secret has more fans (16,392,731 to be precise). Trailing Burberry’s total with nearly nine million fans is high street mainstay H&M, followed by Dior and Gucci.
To celebrate the cyber-milestone, Burberry’s shared a multimedia thank-you greeting on both their Facebook page and YouTube. Unfortunately, the house’s chief creative officer (and our own shameless designer crush) Christopher Bailey doesn’t make an onscreen cameo in the clip, but a flurry of trench-coated Mary Poppins types do. Check it out below.
More on Luckymag.com:
- First Look: David Beckham Designs Bodywear for H&M
- Shop the Pre-Fall 2012 Trends Now
- Lucky Stars (With Video!): Alexa Chung in Marc Jacobs
Keep up with the Lucky team on Twitter: Follow @LuckyMagazine


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BOSTON--(BUSINESS WIRE)--According to the latest research from Strategy Analytics, global tablet shipments reached 25 million units in the third quarter of 2012. Apple iOS slipped to 57 percent global market share, allowing Android to capture a record 41 percent share.
Peter King, Director at Strategy Analytics, said, “Global tablet shipments reached 24.7 million units in Q3 2012, rising a sluggish 43 percent from 17.2 million in Q3 2011. Demand for tablets slowed due to ongoing economic uncertainty and consumers holding off purchases in anticipation of multiple new models, like the iPad Mini, during the upcoming Q4 holiday season. Apple shipped a disappointing 14.0 million iPads worldwide and captured 57 percent share in the third quarter of 2012, dipping from 64 percent a year ago. Apple’s slowdown allowed the Android community to make gains and Android’s global share of the tablet market now stands at a record 41 percent.”
Neil Mawston, Executive Director at Strategy Analytics, added, “Android captured a record 41 percent share of global tablet shipments in Q3 2012, jumping from 29 percent a year earlier. Global Android tablet shipments doubled annually to 10.2 million units. No single Android vendor comes close to Apple in volume terms at the moment, but the collective weight of dozens of hardware partners, such as Asus, Samsung and Nook, is helping Google’s Android platform to register a growing presence in tablets.”
Other findings from the research include:
- Global tablet shipments grew just 43 percent annually in Q3 2012, compared with 289 percent annually in Q2 2011. This was the weakest growth rate since the modern tablet industry began in Q2 2010;
- Microsoft captured a niche 2 percent global tablet share in Q3 2012. The imminent release of the new Windows 8 operating system will likely drive Microsoft tablet volumes higher during the Q4 2012 holiday season.
Exhibit 1: Global Tablet Operating System Shipments and Market Share in Q3 2012 1
|Global Tablet OS Shipments (Millions of Units)||Q3 '11||Q3 '12|
|Global Tablet OS Market Share %||Q3 '11||Q3 '12|
|Total Growth Year-over-Year %||288.6%||43.4%|
The full report, Global Tablet OS Market Share: Q3 2012, is published by the Strategy Analytics Tablet & Touchscreen (TTS) service, details of which can be found here: http://tinyurl.com/bpqpnbs.
About Strategy Analytics:
Strategy Analytics is a global, independent research and consulting firm. The company is headquartered in Boston, USA, with offices in the UK, France, Germany, Japan, South Korea India and China. Visit www.strategyanalytics.com for more information.
1 Shipments refer to sell-in. Numbers are rounded. The definition of tablet does not include e-book readers.


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Jun 12, 2017 07:52 PM EDT
Remote detection of radioactive materials is now possible with the new device invented by scientists at the Ulsan National Institute of Science and Technology (UNIST) in South Korea, The new device used a high pulse of electromagnetic waves that can detect the radioactive substance from 100 kilometers (62 miles).
The traditional method to detect radioactive materials is using Geiger counter. But the instrument is unable to conduct a radioactive remote detection, as the Geiger counter is only effective in short range, therefore people must wear a protective suit as a precaution. The recent research from UNIST has discovered a new and much safer method to detect radioactive materials from a remote distance.
The new method is using the high pulse of electromagnetic waves, is proven to be effective to conduct a remote detection of radioactive materials. The research was led by a Professor at the UNIST, Eunmi Choi, which has published the research in the Nature Communications Journal.
"This method could scale to detect radioactivity at distances of at least tens of kilometers and possibly as far as 100 km," Professor Choi said on the remote detection of radioactive materials with the newly invented device. "Depending on the equipment used."
This new device is able to improve remote detection of radioactive materials by more than one hundred times. Furthermore, the new device has increased its sensitivity in detecting the radioactive 4,800 times higher compared to conventional theoretical sensitivity, thus enabling the detection of very small amounts of radiation.
Remote detection of radioactive materials will increase the safety of people who perform the detection. A radioactive substance is determined by its content of unstable nuclei and ionized radiation in form of alpha particles, beta particles and gamma rays. Currently, the best available device to detect such substance is the Geiger counter, which has also become the standard device for radioactive detection.
1. Sep 11, 2017
2. Sep 10, 2017
Honey Bees Could Combat Antibiotic-Resistant Bacteria
3. Sep 10, 2017
Apple’s Expensive OLED Handset, iPhone 8, Will Probably Ship After The LCD-Featured Models
4. Sep 08, 2017
Galaxy Note 8 Goes Through The Durability Test: A Recent Video Unveils The whole Fact
2. Sep 04, 2017
The Xiaomi Mi Mix 2 Could Feature The Snapdragon 836 SoC, Android 8.0 Oreo: New Leaked Screenshots Revealed
3. Sep 04, 2017
Brazil’s Environmental Policy Under The current President Michel Temer Creates Concern Among The Environmental Scientists
4. Sep 01, 2017
Apple May Bring The 6.4-inch OLED Display iPhone In 2018


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DECT Is the New Black, Microsoft Teams Integration
At Enterprise Connect in March 2022, Microsoft shared its vision of empowering the deskless worker by announcing that it was opening up its certified devices program to digital enhanced cordless telecommunications (DECT) providers. By allowing native integration and registration with Microsoft’s SIP gateway, vendors who traditionally play in the enterprise VoIP space now have a literal gateway into the Microsoft Teams market (which already has 145 million daily active users).
With two vendors already rolling out their products, and three further announcements expected before the end of the year, DECT for Microsoft Teams is a hot area to be in right now. It’s made even hotter by Microsoft’s low barrier to adoption for both partners and users. Assuming an enterprise already has a Teams Phone or common area license, it will not need to make license changes.
As Microsoft limits SIP sign-in to approved devices, theoretically, any vendor providing DECT products can integrate with Microsoft Teams, once they’ve been approved in the Microsoft Teams device certification program.
Why DECT integration is needed in Teams
The non-knowledge worker market is made up of “2.1 billion workers that also [need] to be connected,” according to Alaa Saayed, ICT industry director at Frost and Sullivan.
As competitors report substantial growth — Zoom reported in the summer of 2022 that Zoom Phone sales hit four million — Microsoft must maintain momentum across its entire UCaaS portfolio. As the move to hybrid work has exposed digital transformation plans, CIOs, IT teams, and end users demand more than ever from their collaboration apps. It’s no longer acceptable for frontline and mobile workers to be disconnected simply because they aren’t assigned a desk in the office.
The alternative of maintaining legacy PBXs and third-party gateways has become difficult and expensive to maintain when a business has gone all-in on cloud communications. This is especially true with platforms like Microsoft Teams, which often acts as the all-in-one area for work — no longer just communication.
Why DECT rather than mobile?
Microsoft, and plenty of DECT vendors, think the use case for DECT in Teams (or any other deployment for that matter) is clear.
While bring-your-own-device schemes are ever more popular for desk-based workers, usage and deployment differ when it comes to staff who work in large warehouses or constantly move between hospital beds and surgery theaters. It’s these long-range and often poorly Wi-Fi and cell-enabled areas that struggle compared with a DECT deployment. Think about where most logistics firms are based. They need large, dedicated areas for warehouses, containers, and trucks. For example, the average size of a shipping container is 40 yards, and ships often carry 15,000 of them at a time. That’s a lot of mileage to cover relying on Wi-Fi or a 3G connection.
In emergency scenarios, frontline workers, who aren’t tied to a desk, need to be contacted. Citing poor reception for not being contactable is simply not an option. It could be the difference between hundreds of thousands of dollars being billed that week or not. In other workplaces, a patient might not receive the specialist support they need to stay healthy. While both are time-sensitive issues, they come with extremely different but damning consequences.
The future of DECT and Microsoft Teams
As of October 2022, two vendors have become Teams-certified for their DECT products. Teams-certified DECT products allow enterprises to complete their Teams migration and open the door to organizations that might have put their cloud communications transition on hold due to the importance placed on their deskless workers.
Expect to see more DECT vendors announcing integration with Microsoft Teams throughout 2023. Also, expect to see another boost in Microsoft’s reported number of active users on Teams. No doubt Microsoft’s initiatives like DECT integration, the Walkie Talkie app, and workforce management software like Shifts are a play to swallow up a huge part of the untapped non-knowledge worker market. Microsoft’s hunger to break through in this part of the industry is no bad thing for the people on the end of these products either. As Teams adoption for frontline workers grows, the onus is back on Microsoft to continue innovating in this sector.
While 2021 was reactive to unplanned home working, and 2022 spurred many enterprises to take a hard look at their digital transformation plans, 2023 promises to be the year where organizations finally unify their communications — yes, even frontline workers!


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It’s said that change is the only constant, and the maxim is especially true when it comes to Facebook. Known for its continually-changing interfaces, layouts and policies, Facebook on February 29 announced a new iteration of business Pages that will incorporate the Timeline feature already introduced on individual profile pages back in December.
The new format, which features bold visuals and a host of other changes, will be mandatory for Pages come March 30 – giving merchants just over two weeks to put the finishing touches on their new presentations.
While it’s tempting simply to port over existing Facebook content, with maybe a few extra photos thrown in, merchant brands are better off fully embracing the new format, which requires an adjustment in fundamental strategy. Among the important mindset changes to make:
Find new ways to engage followers. The most disconcerting change for merchants is the elimination of the landing-page tabs, or “fan gates”, that enticed new visitors to “like” a page, often with offers of benefits such as exclusive discounts. Now all visitors will land on the same page, which includes recent posts like the Wall tab of old as well as a bold billboard-style image at the top and information on which friends “like” and have mentioned the page. But with the loss of the tabs, merchants gain new features that can help drive engagement and “likes”:
- A prominent brand statement. Replacing the “Info” link which languished in the left-hand column, the “About” summary is now anchored front and center beneath the main photo, and should sum up the brand’s identity. Consider including customer service contact information or, at a minimum, a link to your eCommerce site.
- Showcasing apps. To the right of the “About” statement and the “Photos” link is space for links to three more links of the merchant’s choosing — a layout that favors merchants with custom features and apps that drive “likes”. Macy’s uses one of its slots for a dance contest promotion that requires participants to “like” the page to enter — helping boost followers.
- Featured content. Merchants can now “pin” posts to the top of the page for a week — giving them the opportunity to spotlight promotions to encourage visitors to “like” the page. Luxury brand Louis Vuitton has pinned a post about live coverage of a fashion event to the top of its page, with information about following the event on Twitter and a video — signaling to first-time visitors that the brand has plenty of up-to-the-minute news to share.
Think visual. The new Facebook page places a heavy emphasis on visuals. It’s not just the billboard-style image at the top of the page and the icons for apps; with the new column layout, there’s more room for photos, videos and graphics in posts. That means merchants should attach an image to almost every update — even if extra time and effort is required to find the right picture. The picture in Walmart’s post about sports gear for Little League not only depicts the subject, but contributes to the brand’s all-American image.
Build a brand scrapbook. The new timeline format places a chronological navigation tool prominently at the top right of the page, giving consumers a chance to browse through years of posts and giving merchants an opportunity to share more of their brand stories. Outline key milestone dates for the brand and mine the archives for ways to convey them with images and text.
The jury is still out on whether these changes will help brands drive engagement and sales on Facebook — but by maximizing the opportunity, merchants can give it their best shot. For more information about the new format:
- TechCrunch – How to Use Timeline for Pages
- Mashable – Facebook Brand Timelines
- Official Facebook information on new Pages
Have you made the transition to the new Timeline-focused pages? What challenges and opportunities does the new format bring?


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Nokia in India – New Brand campaign
In October 2008, Nokia, the world’s largest mobile phone maker launched a brand new campaign with the tagline ‘It’s not just a phone, it’s who we are’.
Nokia selected Priyanka Chopra, former Miss World and current Bollywood actor, as the Brand Ambassador. The company believes the young actor’s brand association will create a deeper connection with its young and style-savvy consumers and the new ad capmpaign featuring her will represent style, modernity and individuality. The TV campaign would be integrated with other consumer touch points like print, outdoor, radio, online and digital media.
Nokia’s other brand ambassadors include Bollywood’s leading actor – Shahrukh Khan. The company has already planned to bundle exclusive content featuring the actor for handsets sold in India. His movie ‘Om Shanti Om’ movie was recently bundled in Nokia N96.
New Indian factory
In October 2008, Nokia Siemens Networks, the second-largest network gear provider in India after Ericsson, announced that over three years it will invest $70 million in a new Indian factory in Chennai (south of India). The unit will make and distribute mobile communication equipment. Nokia Siemens already has a manufacturing facility in Kolkata in eastern India, where it makes fixed network equipment.
Also, in October 2008, Nokia’s handset manufacturing unit in Tamil Nadu (with over 8,000 workers) reached production volume of 200 million handsets within just three years of starting operations. Around 50 per cent of the production is sold domestically and the rest is exported. Nokia has two manufacturing units in China.
Nokia has a 62.5% market share in India while Samsung, the second major player with Aamir Khan (lead Bollywood actor) as the brand ambassador, has a 8% share.


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Disappointing iPhone sales in the run-up to the Christmas holidays caused Apple’s shares to tumble 12 percent on Thursday.
The sell-off was sparked by fears that Apple is losing its dominance in smartphones, with customers changing their preference to models with larger screens.
“We think Apple is losing the screen-size wars,” Jefferies analyst Peter Misek said. He noted that demand was moving away from the iPhone’s 3.5-inch and 4-inch screens to screens of 5 inches offered by rivals such as Samsung, HTC and Nokia.
Apple said it shipped a record 47.8 million iPhones in the December quarter. That was well below the average of analysts’ forecasts, which was for 50 million.
The shares suffered their biggest percentage drop in over four years, slicing more than $50 billion from the company’s market value.
The company’s profit margins were also hit, partly because the iPad is cannibalising its high-margin Macintosh computers.
Analysts said Apple’s growth would hinge on new products, but added that a new launch wasn’t on the horizon.
“To re-accelerate growth, Apple likely needs to launch new products, yet few seem likely before June,” Nomura’s Stuart Jeffrey said.
The company has been long rumoured to be working on a television but has so far deflected questions on its existence. Apple hasn’t launched a new line of products in almost three years, apart from a smaller version of the iPad.
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Dunkin Donuts Menu Expands: Premium Tea Gets Trial – Starbucks Beware!
Jul 20, 2015 08:38 AM EDT | By Victoria Guerra
In the world of chains specialized in breakfast food, the two biggest competitors are without a doubt the Starbucks and Dunkin Donuts menus, while the former is more focused on beverages with Dunkin often taking a stronger approach to their sweets - although it seems like they're going through an important turnaround.
Chris Fuqua, the Vice president of Marketing in the donut-focused chain, recently spoke about adding five different new tea flavors to the Dunkin Donuts menu, as they're about to launch the test version in the Chicago area, so if it's successful it could see a nationwide launch.
Speaking to Bloomberg, Fuqua explained that the tea market is "evolving relatively quickly," and considering the Dunkin Donuts menu has always been focused on breakfast type of food, it makes sense that they'd want to dip their toe into this new wave, as the company attempts to attract "higher-end" customers, a target that has been owned by Starbucks in recent years.
"It's one of the most widely consumed beverages in the world," Furqua said, speaking about the new expansion of Dunkin Donuts' menu. "Pending test results in Chicago, we think this is something that we'll want to go broader with."
According to Business Insider, currently the tea setting the mark is Matcha, while the past winter saw Starbucks also switching from Tazo to Teavana, famous for its loose tea leafs, after purchasing the company for $620 million in 2012.
In fact, Chicago Business reports that Starbucks has mentioned that tea is the company's fastest-growing product, so there's no surprise in seeing why its major competitor wants to add it to the Dunkin Donuts menu.
The five new infusions getting added to the Dunkin Donuts menu are: black tea, chamomile, mint, hibiscus and their own concoction, a blend with the name "harmony leaf," and they'll be reaching Chicago area stores in October and, were they successful, the new line might replace the old one with regular, decaf and green tea.


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Registration is now open for The Cons, an extraordinary gathering of three premier trade and fan shows - Cam Con, Cannabis Con and Inked Con - under one roof, set to take place May 28 – June 1, 2019 at the SLS South Beach Hotel in Miami Beach, Florida.
Year 5 was a pivotal year for this alternative lifestyle conference. “We made the conscience decision to expand our conference to multiple overlapping lifestyles. We felt the homogenized conferences where brand sponsorship dollars would earn industry awards was not the long term strategy we desired.” Says Clinton Cox. “We created this conference for the ultimate model experience. Everyone is treated equal and leaves happy and excited for the next show.
“This is where all are welcome, and every attendee is treated equal,” expresses Stacey Havoc. “Last year, we accommodated over 50 company sponsorships, 200+ industry professionals, plenty of local and national media coverage, and more than 1,200 fans are joined in the fun not including celebrity attendees Logan Paul, Matt Zingler, Madzilla, Asa Akira, Yohan Marley, Kyroman, Natalia Starr, Molly Cavalli, Dani Daniels, Abella Danger, and many more.”
Cam Con, the alternative model conference is now on its 6th year, can expect to see over 250 models this year. Inked Con had an incredible lineup of over 80 tattooed models in attendance, with high-profile International tattoo artists and thousands of fans from around the world, while Cannabis Con hosted more than 100 local CBD/Marijuana businesses on site. This year promises to grow and bring more artists, businesses and fans together, for the biggest year ever.
The Cons will take place at the SLS, Miami and registration is now open to all three conferences. Cox added that, just like last year, The Cons 2019 will offer a variety of nutritious seminars with top industry panelist, networking parties and performance displays to benefit the industry’s content providers, models and affiliates.
While these industries have differences, in many ways they overlap. All three shows are model driven because they are the true industry ambassadors, which is the core value of The Cons.
To register, visit TheCons.biz or go to CamCon.com, Inkedcon.com or Cannabiscon.biz.
SLS South Beach is located at 1701 Collins Avenue in Miami Beach, Florida 33139
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Aldi officially opens 1,000th store in US
Aldi has officially opened its new store in West Haven, Connecticut, to mark the 1,000th location in its US portfolio. The discounter opened its first Connecticut store in 1997 and plans to open around six additional stores in the state in 2009, up 50% from the current 12 outlets. The new West Haven store is scheduled to open on Monday, 23 March. Nationwide, Aldi is on pace to open more than 80 stores in 2009, the company said.
Почему в России экологичную бытовую химию производят лишь единицы
В приоритете - Китай
В новых концепциях - фокус на развлечения


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ASE Agrees to Merge With Siliconware Through New Holding Companyby
Siliconware investors to get NT$55 a share in cash for stake
Advanced Semiconductor already owns more 20% of Siliconware
Advanced Semiconductor Engineering Inc. agreed to merge with Siliconware Precision Industries Co. through a new holding company structure, ending a battle between Taiwan’s biggest semiconductor packagers over a spurned offer.
The holding company will pay NT$55 a share in cash for Siliconware stock, according a joint statement Thursday. The new entity will also issue stock to ASE investors and own 100 percent of the equity of both companies.
ASE has already acquired more than 20 percent of its rival as Siliconware twice sought white knights to scuttle the bid. Last month, a plan for Tsinghua Unigroup Ltd. to acquire a stake in Siliconware was terminated in the face of regulatory scrutiny in Taiwan while a proposal to sell stock to Foxconn Technology Group at a discount was rejected by other investors.
Under the terms of the agreement, the new holding company will exchange 0.5 of its shares for 1 common ASE share, the companies said in the statement.
ASE, the world’s largest chip packager by revenue, has been buying its rivals shares on the open market since August in an unsolicited attempt to consolidate. The Taiwanese companies both service chip industry giants such as Qualcomm Inc. and Intel Corp. but face pressures as clients explore moving advanced packaging in-house.
SPIL shares rose 1 percent to NT$50.50 in Taipei before the deal was announced. ASE gained 1.9 percent to NT$33.05. ASE has been offering NT$55 a share for SPIL stock, after increasing its bid from NT$45.