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The past century has seen a huge shift in the financial services landscape – from the growth of retail banking (as we know it) in the late 1800s; to Diners Club developing the first credit card in 1950; and the elusive Satoshi Nakamoto’s invention of Bitcoin, the world’s first fully virtual currency, in 2008. The evolution in financial services has been complemented by the rapid development of enabling technology, the internet, a huge growth in connectivity, and the successful emergence of mobile and flexible payment channels. Collectively, these exciting developments are opening up financial services to new markets and users, as well as offering customers better value and more choice.
With 48% of the world’s population now using the internet, there is no doubt that the world of financial services will continue to evolve as we move toward 2020. The 2015 EY FinTech Adoption Index identified that of the 10,000 digitally active people surveyed, the US has the second highest adoption rate (16.5%) after Hong Kong (29.1%), with the UK (14.3%) and Canada (8.2%) also in the top six. The majority of those surveyed also realize the consumer benefits of new payment, transfer, savings, and investment solutions.
In 2015, a number of fintech CEOs shared their predictions for the future of financial services with eFinancialCareers.com:
The blockchain is going to change everything, especially financial markets. If done well, the development of a financial-grade ledger could fundamentally change the very fabric of the financial services infrastructure. These technologies could transform how financial transactions are conducted, recorded, reconciled, and reported – all with additional security, lower error rates, and significant cost reductions. – David Rutter, CEO of R3
A generation who are used to “mobile first” will kill the branch banks and will cause those banks who don’t have a good online presence to bleed customers. Fintech startups will eat the overpriced bank services for breakfast. – Andrew White, CEO of FundApps
A Changing Risk Landscape
With such developments – which are often rapid and occasionally chaotic – the risks and opportunities for both legitimate consumers and financial criminals have evolved and expanded.
Take bank robberies, for example: once prevalent in society (and the subject of many a Hollywood blockbuster), the number of physical bank robberies committed in the UK was reported in 2013 by BBC News to have dropped by 90% over the previous decade. That trend can be explained by a number of important phenomena, including the improvement in physical security systems and cash management, reduced usage of cash by customers, and better investigation by law enforcement. However, there is an argument to be made that bank robbery has simply changed in appearance from masked raiders to complex technical attacks. As technology has evolved and more systems have gone online, electronic attacks on financial institutions have increased and are now commonplace, as demonstrated by the 2015 Dridex attack on UK banks where customers lost £20M, and the 2016 theft of $81M from the Bangladesh Central Bank in a hack of the global SWIFT payment system.
Card fraud, on the other hand, is in its heyday. With rising numbers of card-not-present (CNP) frauds taking place each year, with no immediate sign of that abating as we move toward 2020. As Financial Fraud Action UK reports, card fraud in the UK alone was valued at £568M overall in 2015, with £398M attributed to CNP fraud. Through this rise in CNP fraud, combined with the decline of cash as the payment method of choice (it is predicted by Consult Hyperion to represent just 27% of total transactions in 2025), we see an indication toward a growing trend of cybercrime combined with more traditional fraud methodologies, with cyber criminals using stolen credit or debit card data to facilitate fraudulent online payments.
As Limor Kessem, an Executive Security Advisor for IBM, notes in her article for Security Intelligence titled “2016 Cybercrime Reloaded: Our Predictions for the Year Ahead,” cybercrime groups are now well organized and operate “like startup companies;” this makes them highly adaptable and dynamic, allowing the criminal groups to take advantage of the rapidly evolving financial services and technology landscape.
With the advancement of Bitcoin and other virtual currencies, as well as the increasing use of prepaid card programs, the financial crime risks associated with these payment mechanisms cannot be underestimated, nor can the criminals’ awareness of their vulnerabilities. Indeed, the Financial Action Task Force (FATF) – an intergovernmental body developing and promoting policies to combat money laundering and terrorist financing, and one of the world’s leading authorities on financial crime – has concerns about the use of virtual currency given its associated weaknesses. These include its lack of customer identification (one of the key tenets of financial crime prevention programs is the clear and full identification of a customer) and its inability to link transactions to real world identities. This makes virtual currency an ideal platform for a cybercriminal who already operates in a world of avatars and codenames and wishes to remain anonymous while instantaneously transferring funds internationally.
Moreover, the development of the internet of things (IoT) – a market estimated to include 20.8 billion connected devices by 2020 – presents further opportunities for criminals (largely cyber-based ones) to exploit. Gartner, a leading technology research firm, predicts that more than 25% of cyber attacks will involve the IoT in 2020.
With more and more personal data online, multiple connected devices, the increased use of biometrics as an identification verification tool, and the establishment of private, permission blockchain-based payment systems gaining in traction, as well as state sponsored virtual currencies, the possibilities for criminals to exploit each of these grows accordingly. When this is combined with the increased political instability we are currently seeing across both the developed and developing world, it is possible to paint a gloomy picture of the world in 2020.
Building a Positive Future
However, the world has faced threats, political precariousness, and rapid innovation before: the post-war period is the preeminent and most recent example of this, and the industrial revolution before it – while not without its issues – represented one of the most significant leaps forward in the history of human innovation. As such, it is highly likely that in an increasingly connected but disrupted world, and one in which data has primacy, there are more opportunities than threats.
Take, for example, the use of artificial intelligence (AI) and machine learning as a fraud, cybercrime, and money laundering detection tool: instead of systems relying on a series of static rules to detect suspicious transactions or patterns in an account (as they do now) – which often throw up huge volumes of false positives, leaving an analyst overworked and blinded by too much data – imagine a tool that intelligently learns individual customer behavior, tuning its controls and limits according to the patterns noted in the account over time. Not only would this significantly reduce the resources required to monitor the transaction alerting tool, it would also lead to a deeper and better understanding of the customer and their needs, as well as building a more accurate and targeted picture of transactional activity, leading to better insights about the motivations behind customer behavior, whether licit or illicit. These improvements in financial crime detection are predicted by the Centre for Economic and Business Research (CEBR) to result in efficiencies gained by businesses in the region of £290M between 2015 and 2020.
Such benefits, combined with the growth of mobile-based banking, could begin to address the problems of financial inclusion. Already, the World Bank has highlighted a dramatic reduction in the unbanked population globally, falling from 2.5 billion adults with no access to banking services in 2011 to 2 billion in 2014, representing a 20% drop over three years, and leading toward a reduction in poverty levels globally. Improvements in anti-fraud and money laundering detection services will directly contribute to a more nuanced understanding of customer risk, which, in conjunction with the newer mobile-only challenger solutions, will allow more customers access to banking and financial services while also bringing down the rates of fraud. The additional understanding of ongoing financial crime typologies learned from intelligent systems will also contribute to a deeper understanding of criminal activity, allowing more focused and tailored controls to be deployed in a proactive format.
Using technology such as mobile-based banking is a particularly strong opportunity space for challenging traditional norms and increasing security. “When you have a huge branch network, each branch is a network port and the attack surface is massive,” says Tom Blomfield, the CEO of an emerging UK-based challenger bank. “We have no branches so our attack surface is much smaller.” The other advantage of mobile-first banking is that GPS location monitoring makes it easier to identify potential fraud, where the phone is in a different location to that of the card being used to pay.
There is no denying that the financial crime landscape has – and will – become more diverse for customers and businesses as we continue toward 2020. It is highly likely that the downward trend in crime conducted in person will continue, but, as shown above, this will continue to be replaced by criminality that exploits online and connected channels. Many industry commentators call it a cyber arms race – one that we are probably not yet winning. For the benefits of this rapid fintech evolution to be truly recognized, there is still a lot for the industry to do in order to build customer trust so that consumers believe that they can protect their data, money, and interests. From our experience, the industry and regulators see this as a critical responsibility that they are working hard to address head-on.
As such, our vision for 2020 is one of optimism and excitement. Are there challenges to be overcome? Of course. But as long as consumers are vigilant, providers continue to drive forward solutions that build trust and protection, and regulators develop proportionate regulations, we can derive both commercial and socioeconomic benefits from the rapid evolution in financial services as we move toward 2020.


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A Maine man thought he was getting a great deal on memory cards from Groupon. But when he received them in the mail, he found pictures of passports, ids and personal videos of the previous owner in Israel.
"Initially, I was frustrated," says Michael Leonard.
Leonard tells necn Investigates that his troubles began back in May after he ordered three refurbished 64 gig Sandisk memory cards for his go-pro camera. They only cost $24. When he tried to use one of them, it wouldn't work. When he plugged the memory card into his computer, he discovered the card was filled with pictures and videos from the previous owner who lived 5,400 miles away.
"ID cards with personal information. I found some pictures of passports," Leonard told necn Investigates Jason Frazer. "Pictures of people, pictures of women."
When Leonard showed us the card, necn Investigates found pictures of the previous owner's personal moments from a hospital celebration and photos of the Israeli military. The card even had videos of stage performances with fire, elephants dancing, and a street performer playing with several snakes.
Leonard says he tried contacting both Sandisk and Groupon about the problems but was told there wasn't anything they could do since the warranty expired.
"How is it Groupon and Sandisk can allow this to happen?" asked Leonard.
After necn Investigates reached out to Groupon, the company apologized to Leonard and gave him a full refund.
Groupon's spokesperson blamed the problem on a third party vendor and told necn in a statement "We've reached out to make them aware of the issue and to stress that this does not meet our standards for high-quality products. We also have no further deals planned with them."
When necn Investigates reached out to the vendor, the owner told us the cards came from an authorized reseller and questioned whether the cards in question came from them.
"78% of devices that are being resold have some residual information on them," said Sam Ransbotham, an Associate Professor of Information Systems at Boston College.
Ransbotham believes cases like Leonard's will only become more common.
"We don't choose resellers based on whether or not they erase. We choose them based on cost and erasing is a step that adds cost and money to the reseller," according to Ransbotham.
So how can you protect yourself? Pressing the reset or delete button isn't enough. Experts recommend downloading a deletion program.
"They're built into Apple. Their disk utility has a way of secure erasing. Windows has one. Cipher as well," according to Ransbotham.
Leonard hopes his story will inspire Groupon to make some changes.
"I'm not afraid to use refurbished cards. I'm not interested in going back to Groupon for memory cards."
necn Investigates did track down the owner of the memory card in Israel.
She didn't want to go on camera but she told necn Investigates it's unclear how her photos ended up 5,400 miles away in Maine.
Experts say if you find someone's personal data on a memory card, you should return it to the manufacturer.

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Detroit – OnStar will drop the
price of its aftermarket OnStar FMV to $99, including installation, for a
limited time from May 6 through June 16.
The telematics device normally
retails for $299, plus installation, although a $100 rebate was offered during
the fourth quarter of 2011.
The latest promotion is timed for
Mothers Day, Fathers Day and graduation day gift-giving, a spokesman told
The promotional price will be
available through the vast majority of stores selling the device, including
Best Buy, Crutchfield, and Fry’s, the spokesman said. Because of a discounted
wholesale price, retailers will make a margin on the product even though the
price of installation is included, the spokesman said.
OnStar FMV takes the shape of a
rearview mirror that fits in more than 100 million vehicles on the road. It
delivers all of OnStar’s core subscription-based telematics services to drivers
of cars not made by GM. Services include automatic crash response, turn-by-turn
navigation and hands-free calling. The device is available in 2,200 retail
outlets, including independent 12-volt retailers and 1,100 Best Buy stores.
To date, OnStar has sold almost
30,000 units since they became available in late July 2011, although
distribution wasn’t completed until the fourth quarter, the spokesman said. At
CES, the company said more than 20,000 consumers purchased the device.
Separately, OnStar said owners of
2011 model-year vehicles were the most likely to purchase and install OnStar FMV,
followed by owners of model year 2007 and 2012 vehicles. “The majority of these
newer vehicles have some form of built-in navigation or telematics system, yet
these drivers still see OnStar’s suite of safety and connectivity services as a
must-have,” claimed Terry Inch, OnStar sales VP, marketing and business development.
Owners of Toyotas accounted for
15.6 percent of OnStar FMV sales, followed by Ford owners at 12.3 percent. More
than 30 percent of the Ford owners who installed FMV had Ford Sync as an option
when they purchased their vehicles, OnStar said.


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PepsiCo and Coca-Cola are in talks to invest in Chobani, in a deal that the Greek yogurt maker hopes could value it at as much $3 billion.» Read More
Simon Piff, associate vice president, enterprise infrastructure at IDC, explains why customers will be the biggest beneficiary from the merger between Dell and EMC.
Alberto Moel, senior research analyst at Sanford C. Bernstein, says the acquisition of EMC will support Dell's shift in focus towards the corporate enterprise segment.
Robert Pavlik, chief market strategist at Boston Private Wealth, explains why he is pessimistic about the merger between Dell and EMC.
Patrick Moorhead, president & principal analyst at Moor Insights & Strategy, explains why the merger between Dell and EMC is "enormous."
The acquisition of data storage company EMC will help Dell to stay relevant, says Wayne Kaufman, chief market analyst at Phoenix Financial Services.
Gauging tech's mega-mergers, with CNBC’s Josh Lipton.
Ivan Feinseth, Tigress Financial Partners, looks at the Dell acquisition of EMC and what it means to the tech sector.
The Dell-EMC deal means 2015 will likely be the biggest year ever for M&A. Should investors be worried?
Anheuser-Busch InBev has raised its takeover offer for SABMiller to £43.50 a share, the FT reports, citing people familiar with the deal.
"We're creating an unbelievable powerhouse of an enterprise company," Michael Dell tells CNBC.
King Lip, chief investment officer at Baker Avenue Asset Management, is bullish on Ferrari's initial public offering (IPO) and explains why investors could consider buying the shares of parent Fiat Chrysler Automobiles.
EMC is preparing to unveil an agreement to be acquired by Dell as early as Monday but also planning to seek out other suitors, according to sources.
CNBC's Morgan Brennan looks ahead to what are likely to be next week's top business and financial stories.
The EMC-Dell deal could come as soon as early next week, the sources said. Dell would maintain control of VMWare in the transaction.
As the world's second-biggest brewer SABMiller hopes to prevent a takeover by larger rival Anheuser-Busch InBev.
The EMC-Dell deal would be the largest tech deal ever and would make Elliot Mngmt. as a key transformative player in the industry
Sachin Shah, special situations and merger arbitrage strategist at Albert Fried and Company, reckons it's entirely possible for the Dell-EMC deal to go through.
Ivan Feinseth, chief investment officer at Tigress Financial Partners, says embattled hardware providers such as Dell expand into software services to remain competitive.
BioMed Realty Trust on Thursday announced that it agreed to be acquired by Blackstone in an all-cash deal valued at $8 billion.
Kirsty Wilson, global research editor at Mergermarket, explains why M&A activity shouldn't slow if the Bank of England raises rates, but a Brexit could be problematic.


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KUALA LUMPUR (Oct 12): Malaysia’s wholesale and retail trade recorded a double-digit decline in sales value for the third consecutive month in August 2021 with a contraction of 10.2% year-on-year (y-o-y) to RM100 million, said the Department of Statistics Malaysia (DOSM).
Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the motor vehicles sub-sector was impacted the most, with sales plunging 57.6% (RM7.9 billion) to RM5.8 billion, while retail trade fell 7.5% (RM3.4 billion) to RM42.3 billion.
“This was followed by wholesale trade, which edged down 0.1% to RM51.9 billion,” said Mohd Uzir in a report on the wholesale and retail trade sector’s performance released on Tuesday.
On a month-on-month (m-o-m) basis, Mohd Uzir said the sector’s sales value grew 7.9% in August 2021, driven by the resumption of 11 economic and distribution operations in states under Phase 1 and Phase 2 of the National Recovery Plan.
Looking at the performance across the sub-sectors, he said the motor vehicle sub-sector was dragged down by sales of motor vehicles, which slumped 60.9% (RM4.8 billion) y-o-y to RM3.1 billion.
This was followed by sales of motor vehicles parts and accessories, which shrank 47.2% to RM1.7 billion.
Similarly, the sales value of the maintenance and repair of motor vehicle sub-sector also decreased by 48.6% to RM900 million, while that of the sale, maintenance and repair of motorcycle sub-sector dropped 79% to RM800 million.
“On the other hand, for a m-o-m comparison, sales of [wholesale trade] spiked 118.1%, spearheaded by sales of motor vehicles which were registered at 135.5% as showrooms and sales centres were allowed to operate in key states,” he added.
On the 7.5% contraction in retail trade, Mohd Uzir said it was attributed to a 14.8% decline in retail sales in specialised stores to RM8.1 billion, while retail sales in non-specialised stores tumbled 8.1% to RM15.4 billion.
He also noted that the index of retail sales over the Internet recorded a 13.8% growth y-o-y, compared with a 9.4% growth in July 2021.
“Seasonally adjusted, the index rose 1.7% against the previous month,” he said.
In terms of the volume index, the DOSM said wholesale and retail trade registered a y-o-y contraction of 12.2%.
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In recent years we’ve witnessed a boom in conversations about representation and inclusivity in fashion and the creative industries. And although we’ve started seeing a wider range of ethnicities, races, genders and body types on runways, campaigns and covers, there still hasn’t been a concrete plan for institutional change when it comes to the teams behind the camera.
The world over, creative agencies are still overwhelmingly dominated by white-male boys club culture (ahem, ‘Mad Men’). But in 2020, brands are finally realising that if they want to connect with global audiences in a richer and more meaningful way, they need to look for agencies that place representation at the forefront of their workplace.
In the region, there is still limited representation of Arabs, and in particular Saudis, in media and fashion and fashion offices. But young Saudis are ready to make a difference. Fed up of trite stereotypes about their identity and culture, they’re launching their very own creative agencies, ultimately rewriting their own narratives. With tourism opening and cultural happenings across the country errupting, they rightly feel like now, more than ever, is the best time to put Saudi on the map.
When people think of countries that have birthed a new generation of boundary-breaking fashion designers, Saudi Arabia rarely comes to mind. But a new wave of emerging designers are changing the face of Saudi’s fashion scene. From Arwa Al Banawi to Coded Nation, young designers are rethinking their national and personal history, with the aim of bringing authenticity to the wider narrative.
Unfazed by the fact that Saudi Arabia isn’t synonymous with emerging fashion in the industry, young Saudi creatives are exploring their heritage—all while creating art and designs that appeal to everyone. For them, it’s not just a question of reclaiming an aesthetic; it’s a fundamental question of self-determination.
At a time when conversations about decolonising the fashion industry are gaining momentum, Saudis also want to present a new vision of fashion and art that is representative of who they are.
There has been growing demand for powerful and relatable content in the Kingdom that hasn’t been catered to. And as global advertising agencies haven’t responded to that demand, agencies like Authenticite and MishMosh are now filling that role.
Both agencies launched in 2020 and are devoted to empowering and championing young Saudi and Arab talent.
“Many local and international brands want to adapt to the Saudi market in a more credible and less cliché manner,” declared Hatem Al Akeel, founder of Authenticite agency, to Buro247, “The time has come for brands to take their content to the next level with a more local perspective”, he said, emphasising the importance of providing a space for Saudi voices to be celebrated globally.
“Things have massively shifted” MishMosh founder Huda Beydoun said in an interview with MILLE earlier this month, “There’s an explosion of talent in the Saudi fashion industry that ought to be appreciated and grown”.
Looking to create honest and powerful content in Saudi Arabia? Look no further.


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Honda Announces British Auto Plant Closure in 2021
Tokyo, Feb. 19 (Jiji Press)--Major Japanese automaker Honda Motor Co. <7267> said Tuesday that it will close its Swindon automobile manufacturing plant in southern Britain in 2021.
Weak sales in Europe led to the decision to shut the company's only four-wheel vehicle factory in the region.
The closure is expected to deal a blow to Britain, already at risk of an economic disaster due to its planned exit from the European Union, or Brexit.
"What was announced this time has nothing to do with" Brexit, President Takahiro Hachigo told a news conference.
The global auto industry is boosting production of electric vehicles, prompted by tighter environment regulations.
[Copyright The Jiji Press, Ltd.]


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Moving Closer and Closer to a U.S. Recession
The National Association for Business Economics (NABE) is a professional organization for business economics that, among other things, conducts surveys of its corporate members.
When its members include large American corporations, one tends to pay attention to its Industry Survey, which is conducted quarterly. The latest survey, conducted in June 2012, reflects deteriorating economic conditions, according to the NABE; translated, this means we could be headed into a recession.
The highlights include the lack of future jobs growth. In the previous survey, 48% of the corporations surveyed said they were going to maintain their employees but not hire anyone else: that means no jobs growth.
In June 2012, 62% of corporations said they were going to maintain the status quo when it came to employment: no jobs growth. This is the lowest reading in over a year! This certainly adds to the credence of a recession brewing, which will not help jobs growth.
Only 39% of respondents expected rising sales at their businesses over the next six months. This was in contrast to the previous reading of 60% and was, once more, the lowest reading in over a year!
Again, with no increase in sales, there can be little jobs growth and certainly these survey results are reflective of a recession and not recovery.
The corporations surveyed now expect GDP growth to come in lower than they expected in 2012, with the average around the two-percent area, which is why the U.S. has experienced no jobs growth.
Here at Profit Confidential, our analysts believe U.S. GDP growth in the third quarter will be below 1.5%, as low jobs growth translates into no income growth and no retail sales.
Due to this pessimism, the NABE survey suggests that no large capital investment projects are going to be initiated in the next six months. This will further prevent jobs growth, and it is reflective of a recessionary environment and not an economic recovery.
I’ve talked often in these pages about what is now being referred to as the “fiscal cliff” in Congress—the repeal of the Bush-era tax cuts and a halt to government spending initiatives instituted at the onset of the recession in 2008 that are set to expire on January 1, 2013.
I have been saying that a portion or combination of these tax cuts and government spending initiatives will be extended or the U.S. will certainly face recession and no jobs growth.
Sixty-five percent of businesses stated that should the fiscal cliff occur, it will impact their sales in 2013 negatively. (See: “America’s ‘Small Business’ Catastrophe.”)
Large and small businesses in this country admit that they will not contribute to jobs growth and keep talking about how sales are falling and how they will not invest in capital projects. This is recession talk. Early this year, I started talking about a recession in America happening in late 2012, early 2013. Each passing day, my prediction gains more certainty.
Where the Market Stands; Where it’s Headed:
We might as well have called today’s issue the “Recession” issue.
Early on this year, Profit Confidential started saying we would enter a recession in 2012, early 2013. Now talk of this is everywhere. Yesterday, Bill Gross, who runs the world’s largest mutual fund, weighed in and said he thought the U.S. was entering a recession. Gross’ name can be added to a slew of others who now have the same opinion.
Unless you own special situation stocks you feel will rise in price, the remaining lifespan for the bear market rally in stocks that started in March of 2009 is very, very limited.
What He Said:
“Why Google stock will go higher: Most investors in Google, surprisingly, are retail investors. And that’s why the stock can go higher—because only 20% of the stock is owned by institutions. If the institutions jump in and buy Google, the stock will certainly move higher.” Michael Lombardi in Profit Confidential, June 2, 2005. Michael recommended Google stock as a buy on June 2, 2005, when the stock was trading at $288.00. On November 5, 2007, when Google reached $700.00 U.S. per share, Michael advised his readers to sell their Google stock and to put the proceeds into gold-related investments. Coincidently, gold bullion was also trading at about $700.00 per ounce in November 2007. Michael’s message was to trade each $700.00 share of Google into $700.00 of gold, because he saw gold as a much better investment.


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ABS-CBN.com October 31, 2014 09:18 PM
The 49-year-old actress has been pictured wearing the high street chain's new initialled scarves in aid of the Alder Hey Children's Hospital in Liverpool, North West England.
Joining the 'Sex and the City' actress are a host of other celebrities including Britney Spears, Kylie Minogue, Justin Bieber and Helen Mirren, who've all shown their support for the campaign by modelling the winter accessory with their own initial displayed as a collegiate style appliqué letter.
Managing Director of Matalan, Jason Hargreaves said of the project: "Family is at the heart of everything we do at Matalan so a partnership with Alder Hey Children's Hospital was a perfect fit for us.
"We're extremely excited to be working on such a special project together this Christmas that will help us to raise much needed funds for the hospital whilst offering our customers a perfect gift for their loved ones."
The scarves - which are available in a variety of vibrant winter colours and every letter of the alphabet - are on sale in Matalan stores across the UK and online at www.matalan.co.uk now, priced at £10 and £5 for the children's version, with all profits going to the Alder Hey hospital.
The money raised will go towards a new state-of-the-art children's hospital, education and research centre 'Alder Hey in the Park', which is scheduled to open in 2015, bringing together excellent care, technology and design to provide the best possible healing environment for sick children and their families.


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Used-vehicle prices could fluctuate at times this year but are expected to remain healthy overall, Tom Webb, Manheim's chief economist, predicted today.
Webb said the market fundamentals that kept used-vehicle prices relatively high last year -- such as employment growth, readily available retail financing and strong retail used-vehicle demand -- are expected to remain mostly unchanged in 2014.
But "a few missteps may occur along the way," Webb told analysts and reporters during Manheim's quarterly conference call.
For example, wholesale vehicle supplies in the first quarter may rise faster than expected, Webb said. He noted that the auction volume of vehicles sold by rental-car companies in the last quarter of 2013 was low. An influx of retired rental vehicles may hit the wholesale market in early 2014, he said.
Additionally, prices of vehicles in lower-end segments may soften on weaker-than-anticipated demand. He said retail buyers of those vehicles, who are often dependent on income-tax refunds to make their down payments, may be "disappointed" by what he called uneven, unpredictable and relatively low disbursements from the IRS.
Webb pointed out that off-lease volume, which is predicted to grow "significantly" in 2014, will put downward pressure on used-vehicle prices, but "it does not demand a collapse in prices, especially not this year."
He warned that the influx of additional off-lease volume in 2016 could present a "challenge," but said it's a challenge for which the industry has time to prepare. "We know it's coming," he said.
Overall prices of used-vehicles dipped in 2013, but remained historically high, according to Manheim data.
The Manheim Used Vehicle Value Index average was 121.4 for the year, down 1.8 percent from 2012, and was 121.7 in December, down 1.9 percent from December 2012.
The index is adjusted for vehicle make, mileage and time of year.


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The state government has released Rs 6 crore to three co-operative milk dairies for enhancing milk collection and improving their machinery. Two co-operative societies, Warna and Gokul, are from Kolhapur, while the third is from Sangli district.
Sangli and Kolhapur are known as major milk producing districts with large scale milk purchase on a daily basis.
Sangli-based Yashvant Multistate Co-operative Milk Society Ltd will get Rs 1 crore from the state government under the Centre’s Rashtriya Krishi Vikas Yojana (RKVY) scheme for milk product development. The dairy had applied for funds to expand its milk product base. The funds will be utilised for the expansion of milk products and purchase of new machinery. In the last financial year, the co-operative society already received Rs 1.99 crore under the RKVY scheme.
Kolhapur-based Kolhapur district co-operative milk producers’ society, popularly known as Gokul dairy, will also get Rs 2 crore. The state government has sanctioned the funds for the modernisation of its plant at Shirgaon village. The total funding for the project is Rs 12.45 crore of which Rs 5.22 crore was disbursed in July 2014 and February this year. The dairy is one of the largest in the state with an annual turnover of Rs 1,200 crore.
The third beneficiary from Kolhapur is Shri Warna Co-operative Milk Society Ltd (multistate), which is setting up a satellite dairy plant in Gadhinglaj. The state government has permitted disbursement of Rs 3 crore for the project. The total funding for the project is Rs 11.54 crore and the state government has now sanctioned the first instalment for the purpose. The group will have to spend additional Rs three crore from its own funds as part of the conditions laid at the time of sanctioning the project. Once the documents about its utilisation are submitted, Rs 8.54 will be released further, according to the government resolution.
Warna dairy has its headquarter in Panhala tehsil, where its sugar factory is also located. As part of its expansion strategy, the dairy has decided to set up a satellite dairy plant where it can collect and process milk from the neighbouring Karnataka. It will not only generate more business for Warna but also widen its reach in the district as well as in Karnataka.


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What a Difference a Day Makes – Or Does It?
The recent U.S. Postal Service announcement that it plans to end Saturday letter delivery made big headlines, but it wasn't entirely unexpected for those in the industry who depend on the USPS for delivery of bills and statements. This chart spells out the economic realities of declining mail volume pretty clearly:
(Source: 2012 USPS 10-K)
So what impact will the end of Saturday delivery have? The short answer is no one knows for sure. In discussions we've had with billers and financial institutions, most have anticipated the need to modify their workflows, billing cycles and distribution schedules to adjust to five day mail delivery. From the consumer point of view, we asked in our 2010 Billing Household Survey (shortly after the idea of eliminating Saturday delivery was first proposed) whether the change would make it more likely that they would pay bills electronically. While the majority of surveyed consumers said it would make no difference in whether they would pay bills electronically, almost a third said they would be more likely to do so. The same holds true for their likelihood to receive e-bills rather than paper bills.
(Source: 2010 Household Billing Survey, Fiserv)
However, at the macro level, this is a significant shift to a major distribution center and there will be long-term implications. One thing is for sure: no one sees mail volumes returning to previous levels. There is already a permanent and lasting demographic shift that is impacting consumer preference towards digital. The echo boomers and Gen-Y generations are fully connected. Paying a bill with a check in the mail is almost a novelty to them.
For billers, the elimination of Saturday delivery highlights their ongoing need to think about consumers' preferences in how they receive and pay bills, especially the growing segment that prefers to receive and pay them electronically. This means offering online payment capabilities through billers' websites, e-bills that are delivered through financial institution websites, and now mobile-enabled payment capabilities through apps that can provide alerts and reminders. They cannot, however, ignore the segment that doesn't have access to a computer or smartphone, or prefers other channels. So options like walk-in payments at retail storefronts and phone-based payments are still important, as is adjusting their workflows for those who still prefer paying bills through the mail.
Consumers are all different, so billers and financial institutions should support a full range of convenient ways for them to receive and pay their bills. A well rounded and holistic approach will help billers mitigate the risk of these changes to one of their primary distribution vehicles and, in the process, help increase customer satisfaction and improve the bottom line.


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As the gateway to the Mississippi River, New Orleans has long been a city celebrated for its vibrant culture. But beyond the festivities lies a bustling cruise port, Port NOLA.
Already the sixth largest cruise port in the US, President and CEO of the port, Brandy Christian, offered an insight into the growing number of cruise ships sailing from the port, with 1.2 million passengers going through the port in the 2023 fiscal year and an even busier 2024.
Port NOLA’s leadership, embodied by Brandy D. Christian, delivered an upbeat State of the Port address this year, showcasing the many successes the Port of New Orleans has been able to celebrate. Among the key highlights was the port’s performance as a cruise hub, with a strong resurgence in post-pandemic cruise activities.
The port’s cruise segment recorded an impressive 1.2 million guest movements in fiscal 2023, culminating in a new monthly record this past March that eclipsed any pre-pandemic figures. During that record-breaking month, the port recorded welcomed 155,225 cruise guests and 39 cruise ships.
This uptick isn’t merely a rebound; the port leadership expects to see a new yearly passenger record by the end of December.
“These record numbers highlight how demand for cruising from New Orleans never went away, as people from all over the world returned to our vibrant city to launch their cruise vacations as soon as they were able,” said Port NOLA President and CEO Brandy D. Christian in March.
“As a result, our cruise line partners continue to commit to the New Orleans market, and that’s good news for Louisiana tourism and hospitality.”
The Port of New Orleans has always relied on strong relationships with its cruise partners, which include the three largest operators worldwide, Royal Caribbean International, Norwegian Cruise Line, and the largest operator in New Orleans, Carnival Cruise Line.
Royal Caribbean will return to New Orleans with Brilliance of the Seas next year, with the first cruise sailing October 12, 2024. Carnival Cruise Line operates from the port with two year-round cruise ships, and Norwegian Cruise Line has the 146,600 gross tons Norwegian Breakaway, the largest cruise ship homeported in New Orleans.
Additionally, Disney Cruise Line is set to begin cruising from New Orleans in January with Disney Magic, another significant vote of confidence in the possibilities at the port.
The growth that New Orleans is seeing isn’t limited to ocean cruises. River cruises have seen a significant increase, with nine vessels now calling Port NOLA home, including the first Viking cruise ship, Viking Mississippi.
New Orleans should be able to easily achieve a record number of cruise passengers this year. Through the end of 2023, the port has another 26 scheduled calls. Carnival Valor leads the pack with 12 departures, followed by the Carnival Glory with 8. The Norwegian Breakaway, Marella Discovery, and ms Nieuw Amsterdam complete the list.
Cruises from New Orleans sail mainly on short 4- to 8-day cruises to the Western Caribbean, calling on ports such as Cozumel, Belize, Roatan, and for Norwegian Breakaway, Harvest Cay, Norwegian Cruise Line’s private island in Belize.
However, longer cruises are also available. On December 3, Carnival Glory will sail on a 14-day cruise to Montego Bay, Jamaica; Aruba; Bonaire; Cartagena, Colombia; the Panama Canal; Puerto Limon, Costa Rica; and Cozumel, Mexico.
In 2024, New Orleans is all set to set even more records with 104 confirmed departures between January and December, onboard Carnival Valor, Carnival Glory, Carnival Liberty, Norwegian Breakaway, Disney Magic, Brilliance Of The Seas, and Norwegian Getaway. More sailings are expected to be added to the list.
Do you want to see more? click on the link


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Windows Phone 8.1 SDK beta leak reveals even more
As the leaked Windows Phone 8.1 SDK continues to get torn apart by packs of anonymous devs, a few other features about the forthcoming OS have come forward. Today, support for Miracast, uploading of files through Internet Explorer 11 and Google calendar have been found in the documentation.
Miracast is a peer-to-peer wireless screencasting technology that allows beaming of your display to another display, more often than not a large screen TV. Now, references to Miracast have been found in the Windows Phone 8.1 SDK documentation, specifically in the section detailing the ability to let devs connect their devices via USB to a PC to show the display’s contents.


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Digital website Digiday points out that it’s been about a year now since CBS launched its Play.It podcast network. Advertisers the company was able to land include Dunkin’ Donuts and DraftKings. The website reports that a lot of the advertising still comes as part of multiplatform deals sold by the CBS Radio and CBS Local Digital Media’s sales teams. CBS Local Digital Media President Ezra Kucharz tells writer Sahil Patel, “There are some that have bought into the on-demand world and they’re in hook, line, and sinker. There are others who are more cautious and still want to figure it out.”
CEO Todd Cochrane, from podcast service company RawVoice says the podcast advertising market is about $100 million. He says only 2 or 3 percent of the 307,000-plus podcasts available on iTunes actually make money from ads. “The media buyers are all looking for the big shows, but there is a huge opportunity to take this to a $400-500 million market.”
Kucharz tells Digiday that Play.It has grown downloads and streams by 70 percent to 17 million per month. This puts it behind PodcastOne, which says it now has more than 100 million listens per week across its network.
Read the full Digiday story HERE


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Are lighting and projection design merging?
“Absolutely,” says projection, scenic, and lighting designer Peter Wexler, moderator of the first-ever panel on the integration of scenic projection and lighting at the Broadway Lighting Master Classes (http://blmc.net). “This is not the future, it is what's happening now,” says Wexler. “That is why Jules Fisher asked me to add this panel to the BLMC this year.” Panelists include award-winning projection designer Wendall K. Harrington, automated lighting programmer Laura Frank, and projection/scenic designer Peter Nigrini.
Wexler recently designed the scenery and projected images for the American premiere of Christopher Hampton's play The Talking Cure at the Mark Taper Forum in LA, with lighting by Paulie Jenkins. Marc Rosenthal produced the actual projections, working closely with the designers to integrate the movement of the projections with the moving lights in the show. “The video is projected on a large set piece which is a sculpture,” says Wexler. “Paulie made templates for the moving lights that echoed the movement in the video. That is the real key.”
This integration between lighting and projection will be discussed at the BLMC panel on Thursday, June 17, with examples of projects by the panelists, and a look at merged lighting and projection technology. “The future will be even more interesting,” says Wexler. “It's like morphing in films. In the future, computer art will be preeminent in theatre design. The idea of this panel is to introduce the BLMC audience to this.”


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While marketing has been rapidly evolving in form and focus in the past few years, the year ahead promises an acceleration of trends that will leave financial marketers and their banks and credit unions at a competitive disadvantage if they don’t keep up.
The trends come from many disciplines, ranging from the multiple roles of artificial intelligence in marketing to the growing impact of privacy legislation and regulation to the increasingly sophisticated approaches and skills required to get the job done. Other trends overlay the others, such as the increasing transition to an “emotion economy” — one where the importance of product features and functions rank less importantly than how consumers feel about what a brand stands for on social and political issues.
The trends reviewed in this article come from a broader report by Acoustic and eMarketer, and from commentary on the trends by Michael Trapani, Director of Marketing at Acoustic.
1. AI will Deliver Best By Informing Human Decision-making and Carrying Out Orders
A modern marketing paradox can be seen every day in your own mailbox — both the one for email and the one for snail mail.
“Brands still send consumers an overwhelming amount of marketing messages that are irrelevant, generic or only mildly segmented or personalized,” the report states.
Why does all this wasted time, effort and paper continue? Paradoxically, one reason is that the multiplying amount of data available about consumers has outstripped the ability of the unassisted human mind to make sense of it all, let alone react appropriately, according to the report.
“Enter AI and machine learning-based marketing tools that are changing the nature of how marketers make decisions and deploy campaigns,” the report states. “While humans still are in the driver’s seat with respect to strategy and creative, machines can analyze, process and deliver personalized content at a massive scale.”
The report points out that while deeper personalization is increasingly possible, an inhibiting factor has been an inability to draw on the growing volume of tailored content for each consumer in the proper combination. Here, AI-based systems can process financial marketers’ specific rules and directions and then create and deliver individualized content to each recipient. Increasingly this hyper-personalization is based on the predicted behavior of the individual rather than a static segment.
Trapani says that ideally AI doesn’t make the decisions for the marketer, but instead renders recommendations. The technology is not quite where AI acts as a “consultant,” but Trapani believes it is nearing that point.
The report contains an example. A financial marketer could receive a message from one of the institution’s marketing tools predicting some falloff in business in the near future. The consumers who could be lost are analyzed. Marketers devise a package of different offers and communications to retain as many potential defectors as possible. The AI would take the package of responses created by the human marketer and feed the right combination of content to each identified consumer.
- How Banks and Credit Unions Can Grow Deposits with AI
- How Regions Bank Uses AI to Up Its CX Game (And Boost Revenue)
- 5 Ways Financial Marketers Can Gain Seats at the Strategy Table
The latest study from Elan Credit Card shows that 24% of consumers will choose a credit union or local bank for their next credit card.
This webinar from CI&T will discuss a framework your bank can follow to identify, measure, and maximize the value of the most critical metrics of CX and digital experience management.
2. Increasingly Best Marketers will be ‘Martecheters’
If marketing was ever solely about being a “right-brainer” — creative and artistic — the skill set has expanded into a “whole brain” assortment of abilities.
“Single-skilled marketers can’t analyze oceans of data created by the widening range of customer touchpoints while also developing captivating creative, nor can they afford the constant developer resources needed to implement cutting-edge marketing tech stacks,” the report says. “In short, there is a skills gap between corporate and digital-native marketers, and it’s pretty big.”
Two implications come of this.
First, the skills that go into the makeup of marketing department teams have been broadening. Even among somewhat smaller financial institutions, according to discussions with readers of The Financial Brand, bank and credit union marketing departments have been hiring for data analytics, video, social media and other skills.
Second, somewhere in marketing departments there must be someone who understands martech — the “martecheter,” to use Acoustic’s term.
Part of the skill of this person is the ability to apply the elements of a financial institution’s martech stack in a more holistic way, according to Trapani. Marketers tend to think of each element of their stack separately, which misses the synergies that can be obtained by interconnecting them.
Add a “Director of Marketing Data”? The report suggests, in a related vein, that one of the key new roles that institutions should add to their marketing departments is the post of “director of marketing data.” This person becomes the nucleus of the data accumulation and analysis operations, coordinating internal and external suppliers’ effort to integrate diverse sets of data and to centralize it in a useful way. CMOs who develop such skills will increasingly play a role beyond marketing to having a voice in overall creation of customer experience.
People in this role will be one of the human connections between AI and what the bank or credit union wishes to accomplish with its data.
Rise of consulting agencies. The report cites as another trend the blurring of the lines between consulting firms and marketing and advertising agencies.
“The marketing services units of Accenture, PwC, IBM and Deloitte sit just below WPP, Omnicom, Publicis Groupe, Interpublic and Dentsu,” the report says. “What is common across many of these newer digital agencies is a consulting and solutions mindset often combined with deep focus on technology-based services.”
Acoustic’s report refers to these evolving firms as “consulgencies.”
3. Smarter Marketers will Turn Data Rules into Voluntary Quality Control
Financial institutions are all too familiar with government regulations. One set of rules that will complicate efforts to better utilize consumer data is the rising tide of privacy and data use laws. However, Trapani says that there is a benefit for organizations that adapt voluntarily to growing interest in consumer data protection.
“Privacy, in my mind, is a right,” says Trapani. “It shouldn’t be an afterthought, something we think about only once we have built everything we need to build. Customers are trusting marketers with a lot of information. You can’t take that lightly.”
Multiple bodies of law are growing in this area, he points out. First there is Europe’s General Data Protection Regulation, which governs collection and use of data on Europeans there and abroad. Closer to home there are new data privacy regulations coming into effect in 2020 in California — other states may follow. Trapani says the California law was a direct result of marketers not taking data safeguards seriously enough.
Rules improve results. He says that there’s been an interesting side effect in countries and regions where stiffer data privacy rules have been: The performance of marketing campaigns has improved.
One reason is that marketers in those areas start with cleaner lists, because they have had to cull those people who don’t want marketers to use their data. As a result, communications go to a group that begins as more willing. He suggests that voluntary efforts to provide greater opportunities to opt in or out of data sharing could produce more effective lists and more successful campaigns.
“It’s a more-engaged audience,” says Trapani “and marketers sleep at night.”
Longer term, the report suggests, marketers will move away from a list-focused mentality toward “an exchange of secured and trusted data that allows for deeper personalization of content from marketers to buyers and vice versa,” the report predicts.
4. ‘Agile’ Marketing Thinking will Become the Rule
Traditional financial institutions still suffer from the inertia of a plethora of meetings, and decision processes that appear glacial compared to the ideal projected by fintechs and challenger brands.
“As digital transformations accelerate and a demand for exceptional customer experiences grows, marketers and CX professionals are faced with the new realities of thinking, working and collaborating to support their businesses,” the report says. “More and more marketing teams are adopting agile frameworks as part of their transformations. They must prioritize their work by understanding which problems they’re looking to solve and why, while they define which outcomes need to be achieved and measure within a given sprint.”
The report indicates that stripped of some of its jargon, agility in marketing consists of five practical elements:
- Greater ability to shift gears and manage changing priorities.
- Tighter business alignment and objectives.
- Increased delivery speed and time to market.
- Improved team morale and team productivity.
- Higher output in the quality of work.
“Organizations driven by culture change and agile mindsets have a first-mover advantage, especially where AI-powered marketing technology is enabling the right sets of tools to align and measure the proper objectives and metrics,” the report suggests.
5. Consumer Loyalty Won’t Just Hinge on Your Own Products and Services
There is a growing belief that brands should take stands. “Consumers are making more decisions based on the values of their brand than based on features and functions of what they provide,” says Trapani. “Brands are being asked to take a stand and pick a point of view on social issues.”
The report cites this shift on what it terms “the emotion economy.” The report suggests that brands need to find “emotional triggers” that cause people to buy from one brand over another and to experience growth.
“If a brand wants to sustain that growth, it must pull these emotional triggers again and again,” states the report. Marketers must also recognize the risks of consumers voting with their virtual and physical feet when a brand is perceived to transgress. The report cites the period of fiascos experienced by Uber as a reason cited by some consumers to delete the company’s ride-sharing app.
But are there risks to attempting to become a “purpose-driven brand”? Faking it is a good way to have the effort backfire.
“This shouldn’t all come down to the marketing team,” says Trapani. “This stand should really be something that is true and believed in by your leadership and the employees of your company. This can’t be fluff.”


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Concerns Over Quality Of Imported Drugs
By: Chrishanthi Christopher: The Sunday Leader
Last week the State Pharmaceutical Corporation (SPC) and the private pharmaceutical drug importers were at logger heads over the low quality pharmaceutical drugs flooding the local market.
This comes in the wake of the Sri Lanka Medical Practitioners Association calling for a quality assurance lab to test all imported drugs claiming that all low quality pharmaceutical products enter the country because of the lack of quality testing. The SPC alleges that 90 percent of the pharmaceutical drugs imported into the country are from India and that none of the drugs undergo any quality assurance test. “In the private sector nothing is tested” re-affirms SPC Chairman, Prof. S. D. Jayaratne.
“The whole system needs to be revamped and we need to expand the quality assurance lab to test all pharmaceutical drugs that are imported into the country” said Jayaratne.
Jayaratne said that all exporters have to be screened and their credentials as exporters examined in keeping with the ‘government procurement guidelines’ before any drug manufactured by that company is allowed into the country.
Jayaratne lamented that all pharmaceutical drugs imported by the government also do not pass the quality assurance test due to the lack of facilities. “We do only random testing due to want of a larger and able quality assurance lab,” he said. Jayaratne claimed that Sri Lanka imports over Rs.15 billion worth of drugs annually and that due to lack of facilities many drugs are not subjected to the National Quality Assurance Test resulting in many low quality and sometimes harmful drugs flooding the market.


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Mediavine, the largest independent full-service ad management firm in the U.S., has been named as an initial partner in the prestigious Google Certified Publishing Partner Premier program, solidifying its position as a leading player in the ad tech industry. This recognition comes at a crucial moment for the company, as another popular ad network, Ezoic, recently faces some significant challenges.
Just recently, Ezoic made headlines when CEO Dwayne Lafleur announced a major layoff, affecting 28% of its workforce. The decision came after the company admitted to over-hiring, a move that backfired amidst global economic changes, including increased inflation and decreased ad rates. Ezoic had been riding the wave of increased online activity during the pandemic, but the last six months brought a different reality, leading to the need for a strategic pivot.
In contrast, Mediavine's selection as an initial member in the Google Certified Publishing Partner Premier program highlights its proven success in quality, size, and commitment to helping publishers monetize effectively. With access to advanced training and industry insights, Mediavine is further solidifying its relationship with Google and navigating the changing landscape of ad tech. We actually use it on this very website to run our own ads.
While Ezoic grapples with its challenges, Mediavine remains an absolute beast in its commitment to delivering best-in-class monetization solutions to its vast network of more than 10,000 partner sites.
This development is a significant moment for both companies and as the industry continues to evolve, advertisers and publishers will almost certainly watch how these two companies navigate their respective paths. The next year of publisher advertising is going to be very interesting to watch unfold.


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Federal Ammunition Sales Regulation: A Proven Failure
Recent calls for federal regulations and restrictions on ammunition sales ignore the failure of such laws in the past. They also ignore the impracticality of imposing and enforcing similar controls in today's huge ammunition market. The National Shooting Sports Foundation estimates that 10-12 billion rounds of ammunition are produced domestically each year, while billions more are imported.
The Gun Control Act of 1968 required federal licensing for all ammunition dealers, and required that a record be kept on all handgun ammunition sales by retailers—including the popular .22 rimfire cartridges. The requirements proved to be such a heavy burden on retailers that in 1982, Congress removed .22 caliber rimfire ammunition from the record-keeping requirement.
Even with that change, the value of ammunition sales licensing and record keeping was doubted by many, including the nation's top firearms law enforcement officials. In 1984, the U.S. Senate Judiciary Committee concluded that ammunition dealer licensing "was not necessary to facilitate legitimate Federal law enforcement interests."1 In 1986, the director of the Bureau of Alcohol, Tobacco and Firearms supported eliminating the record keeping requirement: "The Bureau and the [Treasury] Department have recognized that current recordkeeping requirements for ammunition have no substantial law enforcement value."2 As a result, the Firearms Owners Protection Act of 1986 repealed the ammunition restrictions, with little opposition despite heated debate over other provisions of the bill.
More recently, anti-gun politicians have called for bans or restrictions on online or mail order ammunition sales. But limiting the ability of law-abiding gun owners to purchase ammunition online or through catalogs will not prevent any criminal from purchasing ammunition from a local retailer. A box or case of ammunition is the same if it is bought from a local gun store, a big box retailer, or an online seller. And as with sales of other regulated products, online retailers take practical measures to verify the age of shoppers—usually by requiring a copy of the buyer's driver's license and requiring an adult signature for delivery of the package.
Finally, limiting the quantity of ammunition a gun owner may purchase online or by mail will only affect the law-abiding. Criminals typically fire only small quantities of ammunition during attacks. Leading criminologist Gary Kleck describes numerous studies showing that armed assaults usually involve either no shots or only a few shots fired, noting that "Even in a sample of gun attacks on armed police officers, where the incidents are more likely to be mutual combat gunfights with many shots fired, the suspects fired an average of only 3.7 times."3
In contrast, it is not at all unusual for top pistol, rifle and shotgun competitors to fire tens of thousands of rounds per year. Law-abiding competitive and recreational shooters regularly buy ammunition in bulk, saving money on the large quantities of ammunition they need to improve and maintain their skills.
Even in the international arena, the United States recognizes the fundamental problems inherent in regulating ammunition. As the top U.S. negotiator at U.N. Conference on the Arms Trade Treaty put it: "Ammunition is a fundamentally different commodity than everything else we have discussed … It is fungible, consumable, reloadable, and cannot be marked in any practical way that would permit it to be tracked or traced. Any practical proposal for ammunition would need to consider the significant burdens associated with licensing, authorizations, and recordkeeping for ammunition that is produced and transferred in the billions of rounds per year."4 That statement holds just as true for recently proposed domestic controls.
1. Federal Firearms Owners Protection Act, S. Rept. 98-583, Aug. 6, 1984.
2. Legislation To Modify the 1968 Gun Control Act, Hearing Report, Committee on the Judiciary, U.S. House of Representatives, October 38, 30, Nov. 8, 1985, and February 19 and 27, 1986. The BATF was an agency of the Treasury Department until 2003.
3. Gary Kleck, Targeting Guns 123 (1997).
3. UN arms trade treaty shouldn't regulate ammunition, The Hill, July 10, 2012 (http://thehill.com/blogs/global-affairs/un-treaties/236969-us-says-un-arms-trade-treaty-shouldnt-cover-ammunition)


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Today (8/5), Bank Indonesia (BI) and Bank Negara Malaysia (BNM) have officially launched the implementation of payment interconnectivity between Indonesia and Malaysia using QR Code. This marks a significant step forward from the successful pilot phase that has been underway since January 27, 2022.
The payment interconnectivity using QR code involves the participation of a number of financial institutions, including those beyond banks, which have continued to grow.
As a result, more residents of Indonesia and Malaysia will be able to make retail payments in both countries by scanning the Indonesian Standard Quick Response Code (QRIS) or the DuitNow QR Code at physical or online stores using services from payment providers participating in this scheme.
Governor of Bank Indonesia, Perry Warjiyo, has hailed the cross-border QR payment connectivity between Indonesia and Malaysia as a tangible proof of strengthened cooperation within the Regional Payment Connectivity (RPC) framework to promote faster, cheaper, more transparent, and inclusive cross-border payments, especially for micro, small, and medium-sized enterprises.
“This interconnectivity is also in line with the G20 initiative to develop a roadmap for strengthening cross-border payments, as well as a significant achievement of Indonesia’s Chairmanship in ASEAN in 2023, and a milestone in the implementation of the Indonesian Payment System Blueprint (BSPI) 2025,” Perry said on Monday, May 8, 2023.
He further noted that this collaboration will provide more choices for users of cross-border payment transaction services and become the key to improving efficiency, promoting economic and digital financial inclusion in the region, as well as supporting macroeconomic stability by encouraging wider use of local currencies for bilateral transactions within the Local Currency Settlement Framework.
Meanwhile, Governor of Bank Negara Malaysia, Nor Shamsiah Mohd Yunus, believes that ASEAN is now more connected than ever before. Thus, she is confident that more users from Malaysia and Indonesia will benefit from cross-border payments that are more secure, easy, and efficient.
“This has the potential to drive economic activity, including the tourism sector in both countries. This payment interconnectivity will support market expansion for some businesses and facilitate increased settlement of payments using local currencies, resulting in positive financial impact,” Nor said.
“The QR payment interconnectivity between Indonesia and Malaysia complements the growing bilateral payment interconnectivity in ASEAN, which will contribute to a more dynamic ASEAN and further development of the region as a growth center,” she added.
Both governors see this collaboration as a way to strengthen the close economic ties between Indonesia and Malaysia, which will support a more inclusive and stronger post-pandemic economic recovery.
With international tourism gaining momentum, payment interconnectivity is expected to not only provide greater convenience for tourists but also benefit the tourism and retail sectors of both countries.
In summary, the implementation of payment interconnectivity using QR code between Indonesia and Malaysia is a significant achievement that will bring more choices and benefits for users of cross-border payment transaction services, promote economic and digital financial inclusion, support macroeconomic stability, and strengthen the economic ties between the two countries.


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Two San Diego area restaurants are testing a concept which allows customers to customize their burgers with a tablet. The concept was first tested in Orange County has now been expended. An employee delivers the food to the customers, and then buses the tables after the meal has been finished.
Newslines lets you create cool news timelines about your favorite people and products. Register now!


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A consortium led by British motorsport high-flyer David Richards and including American businessman John Sinders, and Kuwaiti companies, Investment Dar and Adeem Investment, has bought famed British sports car maker, Aston Martin.
The deal, announced last week, ends Ford’s almost 20-year ownership of the marque.
The consortium is described as “a group of sophisticated investors who are committed to the brand, its success and existing business plan which envisages growth, profitability and new products, including the much acclaimed four door concept Rapide, shown for the first time at the Detroit
Auto Show in 2006.”
With the full support of the investors, exiting chief executive, Dr Ulrich Bez, will lead the management team into the new era.
Since his appointment in 2000, Bez has overseen a period of growth and investment, steering Aston Martin to its status in the world luxury sports car market.
During the past six years, the company has seen a tremendous change with new headquarters, new products, a successful motorsport programme and a strong corporate identity through an expanding dealership network.
Richards, founder and chairman of motor racing and rallying company Prodrive, will join the Aston Martin board as non executive chairman.
Richard’s Prodrive is involved in Formula 1, Australian V8 Supercars, the Subaru works rally team, and sports car racing among other activities.
He says the consortium’s purchase of Aston martin is “an incredible opportunity. Aston Martin is one of the world’s most iconic brands. We’re confident we now have all the right ingredients to take Aston Martin to even greater heights.”
John Sinders, a banker in finance and shipping from Houston, Texas and Dubai UAE, is an Aston Martin owner who has a great affection for the brand on both road and track.
Investment Dar, a Kuwaiti company, is the largest listed investment company in the Gulf. It owns and manages a group of companies including banking, finance, investment and asset management, real estate, insurance, banking, and logistics. Investment Dar has total assets of $US3.66 billion, with net income of $US317.3 million in 2006.
Adeem Investment is a Kuwaiti company which owns companies in the banking and finance, real estate and hotels, transport and logistics, food and telecoms industries. It has become the fastest growing investment, corporate finance and asset management company in Kuwait with assets under management in excess of $US1.5 billion.
“This new partnership is a tremendously exciting opportunity for Aston Martin,” says CEO Bez. “Under the ownership of Ford, we’ve become a successful, profitable company and I will be working with the new owners to build on this great foundation. It is a new beginning which will give the company the opportunity to attain an even higher level of excellence.
“This next stage in the company’s history promises to be the most exciting yet.
David Richards and I have a great deal of mutual respect for each other and we are equally passionate about realising the brand’s full potential.”
Aston Martin will remain at its high-tech factory at Gaydon in Warwickshire, England, where 1800 employees work.
Aston Martin was founded in 1914 by Lionel Martin and Robert Bamford.
Its current line-up includes the V8 Vantage, DB9, DB9 Volante and Vanquish S and V8 Vantage Roadster. Just around the corner is the high-performance DBS model.
It has a network of 126 dealers in 27 countries, including New Zealand where it is marketed by Independent Prestige in Auckland.


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More than 100 million viewers watched the recent Super Bowl XLVII on CBS and more than 5 million people sent out tweets via micro blogging website Twitter during the telecast, according to market research firm Nielsen. Since it is the most watched television broadcast in the United States, it is expected for brands to take this opportunity to create materials that would capture a wide audience. However, spot costing has been reported to go as high as $3.8 million — the price that companies pay to reach a huge audience. But it seems that it is no longer enough to simply air advertisements through television nowadays, you must also bring it to the Internet.
The internet and social media have been both very useful in making campaigns and advertisements go viral, which is why we are not surprised that brands/companies like E-Trade (NASDAQ:ETFC), Budweiser and Coca-Cola (NYSE:KO), among others, have uploaded their spots to Youtube and have spurred conversations in major social networking sites. In line with this, social media monitoring companies have also taken this opportunity to showcase their expertise in sentiment analysis as they study the market’s reactions toward the advertisements.
It is entertaining to see advertisements that are creative, humorous and/or sentimental and we would like to share them with you. Below, you will find 5 videos/spots that garnered the most number of online views.
Toyota – “Wish Granted”, 15,348,128 views
Samsung – “The Big Pitch”, 12,935,222 views
Volkswagen – “Get in. Get Happy.”, 11,812,908 views
Budweiser – “Brotherhood”, 10,590,040 views
Audi – “Prom”, 9,884,422 views
Also, what may have contributed to the high number of views is the emotion that it lets their viewers feel. For example, Audi relates its product to real-life events, in this case, the prom, giving a sense of nostalgia, whereas the Volkswagen ad is more on a light-hearted note, evoking a happy feeling.
As for the social media comments the advertisements received, it was reported by Ad Age and Bluefin Labs that Dodge Ram Trucks’ ‘Farmer’ had the most number with 402,000 conversations in Twitter and public Facebook posts. However, the highest positive sentiment rating was for Tide’s ‘Miracle Stain’, with 58% positive feedback and just 5% negative feedback.
What do you think of the advertisements? What are your favorite and least favorite? Share it with us in the comments section! We are looking forward to hear your thoughts.
Author: Jamee C.


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Goal is to make Louisville a food and spirits capital
LOUISVILLE, Ky. (April 29, 2014) – Louisville has a unique opportunity to significantly grow its tourism economy by taking advantage of the global popularity of bourbon and the city’s nationally recognized culinary scene, according to a report released Monday.
The Bourbon & Food Work Group, appointed by Mayor Greg Fischer last December, unveiled a 22-page report detailing numerous strategies to accelerate the goal of being the best culinary and spirits capital in the world.
With six major recommendations, and numerous smaller ones, the work group suggested everything from building a downtown bourbon/food visitors center to creating a public art piece that is a “must have photo” for tourists, the bourbon equivalent of the big Slugger bat. Other ideas were more centered on education, such as developing a certification program that would create an army of proven bourbon experts in Louisville’s hospitality industry.
“As we all know, bourbon is ‘hot’ right now,” Fischer said. “Fortune Magazine recently said we’re in a ‘Billion-Dollar Bourbon Boom.’ But while trends come and go, bourbon is a proud part of Louisville’s history, a big part of our present and, with this plan, will be an even bigger part of our future. This is our chance to increase the momentum so that Louisville and bourbon are as classically paired as Napa Valley is to wine.”
Bourbon provides 4,200 jobs in Louisville, with $263 million in payroll and $32 million in tax revenue. In 2012 alone, there were $50 million in capital projects – and new visitor attractions are springing up throughout the community, most notably, the Evan Williams Bourbon Experience on Main Street and the re-opening of the historic Stitzel-Weller Distillery in Shively. Because of these developments – and the success of the Kentucky Bourbon Trail, which now draws more than 600,000 visitors a year — Fischer appointed the work group in December and asked the 60-plus members to think boldly about the future.
The six major recommendations are:
Create a Bourbon Visitor Center. This would be a 7-day-a-week starting point for both local and visiting bourbon enthusiasts. It would host lectures and cooking events – as well as serving as the launching point for traveling the Kentucky Bourbon Trail.
Create an annual world-class, uniquely Louisville, signature Bourbon and Food Festival. The Bourbon Affair, hosted by the Kentucky Distillers’ Association and happening this May, could grow into this broader festival concept beginning in 2015.
Create a bourbon certification and recognition system in which the hospitality industry (especially front-line servers and bartenders) would become certified bourbon experts. The goal is for every hospitality employee to know the history of bourbon and be able to expertly discuss brands with customers. The Filson Club will be a key partner in this effort because it already has the Bourbon Academy.
Incorporate bourbon and food into Louisville International Airport in a significant way, so that travelers will know they’ve arrived at the epicenter of bourbon.
Create a common marketing strategy for the city around bourbon and food. A nationally-recognized consultant has already been hired by the CVB to conduct this work and make recommendations.
Use bourbon to market and sell the city. The city should more deliberately court convention and trade shows tied to the spirits industry and the mayor should have his own brand of bourbon to hand out when promoting Louisville.
Fischer said the city — along with many partners, including the Kentucky Distillers’ Association and the Louisville Convention and Visitors Bureau and local restaurants — will work to make the report a reality. “City government alone can’t implement the recommendations, but working with the broader distilling and restaurant industries, we can,” Fischer said.
The work group has more than 60 members and its work was divided among three groups — Food Committee (headed by businessman Stephen Reily and Kathy Cary, owner of Lilly’s); Bourbon Committee (headed by Rick Robinson of Wild Turkey and Michael Howerton, chairman of the board of the CVB) and the Bourbon Built Environment Committee (headed by Rebecca Matheney, interim director of The Downtown Partnership).
The mayor is seeking public input and ideas about the bourbon and food report. Comments will be taken until May 31. People can either email their ideas or comments to [email protected] or [email protected] or by tagging the mayor on twitter (@Louisvillemayor) or Facebook (Mayor Greg Fischer).


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Get ready for the excitement of 4G within your budget as the Good news came last Thursday about the Noida-based Indian company Lava launching three... ...http://tropicalpost.com/2016/02/12/budget-4g-smartphones-lava-a88-a71-and-x11-launched-in-india/
Human existence is the quest for an idyll. Of course, each of us defines that idyll individually and perceptions vary sharply, as do human beings... ...http://www.thehindubusinessline.com/blink/read/the-life-and-times-of-an-indian-mr-chips/article8223836.ece?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication
Honor, which is Huawei's Smartphone e-brand for digital natives, under Huawei, today announced the sale commencement of its recently launched Holly... ...http://www.gizbot.com/mobile/news/honor-holly-2-plus-smartphone-go-on-sale-from-february-15-at-rs-8499-031334.html
Intex is a well known name in the budget smartphone segment. The company has now released the Aqua Craze handset for the region, carrying a very... ...http://www.in.techradar.com/news/phone-and-communications/mobile-phones/Intex-releases-Aqua-Craze-handset-with-4G-for-Rs-6190/articleshow/50961974.cms
/PRNewswire/ -- The 'Made for India ' Phone is Exclusively Available at Flipkart and Amazon Honor, which is Huawei's smartphone e-brand for... ...http://www.prnewswire.co.in/news-releases/huawei-honors-first-dual-sim-world-phone-goes-on-sale-at-midnight-on-15th-february-568584411.html
Interactive white Board, Smart class...
Mr. Dan White is the President & CEO...
Mr. Romney's looks listed here...


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Toyota Canada says it is recalling its 2023-24 model-year Toyota Tundra, Sequoia and Lexus LX 600 vehicles across the country.
It says certain parts of the transmission may not immediately disengage when the car is in neutral, which may keep the wheels moving.
Toyota Canada says the vehicle is at risk of creeping forward at a low speed when it is on a flat surface and no brakes are applied.
The auto manufacturer is asking customers to bring their vehicles to Toyota and Lexus dealers for a software update, which will be free of charge.
It says owners of vehicles affected will be notified by late April.


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While most shoppers are gearing up for a day of savings this Friday, with some stores opening their doors to eager customers on Thanksgiving evening, Amazon seems to have started the festivities even earlier, offering users discounts on Samsung’s Galaxy S III now.
The online retailer has slashed the price of Samsung’s signature handset by $150 on some models, matching RadioShack’s Black Friday $50 price tag for the 16GB third-generation Galaxy S from Sprint. Of course, that price is only applicable to new customers signing up for a two-year contract, with previous subscribers having to pay $100 more for the phone with a service upgrade. Still, that is $50 less than what they would pay for the smartphone at Sprint or other retailers, meaning this could be the best deal for customers looking for a high-end handset that doesn’t cost $200.
Amazon also lists Verizon’s iteration of the popular phone, which recently trumped the iPhone 4S as the best-selling smartphone for the first time. New customers can purchase the 4G LTE-equipped handset for $80, while Big Red users seeking an upgrade will have to pay $150.
AT&T customers can also pick up a discounted version of the Samsung device, with Amazon offering a 16GB model in white, blue or red for $150. New customers won’t save as much for an AT&T Galaxy S III as they would opting for a contract on the Now Network or Verizon, yet they will still get half off, with Amazon listing the phone at $100 for first-time customers.
The Internet seller doesn’t mention a time period for how long these deals will last, so those interested better act fast, as these discounts are likely to go quickly. And be sure to check out Brighthand’s Black Friday gift guide to see all the deals offered on smartphones this holiday season.
For more bargains, check out Brighthand’s Black Friday page, which lists a variety of models from a range of telecoms.


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Looking to get away from the Everest base camp scrum? This month, REI Adventures introduces a new lodge-to-lodge trekking trip in Nepal that takes hikers off the beaten path to visit remote monasteries and Sherpa villages. Guests spend several hours a day on the trail earning majestic views of Everest, as well as other sacred Himalayan peaks (including Nuptse, Lhotse and Ama Dablam); also included in the journey are stays at family-run inns and a snack at what is billed as the world’s highest hotel, the Everest View, above, situated at 12,730 feet. (800-622-2236; rei.com/adventures; from $2,599)
In the Aomori prefecture, the northernmost part of the main Japanese island of Honshu (about 200 miles northwest of the most damaged areas), the historic Hirosaki Castle celebrates its 400th anniversary this year. In addition to the beautifully preserved yaguramon gates and moats, the castle grounds are famous for their 2,600 cherry trees, which bloom from late April into May. This year, Hirosaki’s quadricentennial offers special events centered around the cherry blossom festival. (www.jnto.go.jp/eng)
The new $33 billion Beijing-Shanghai high-speed rail is set to begin service in mid-June, cutting the travel time between the two cities from about 10 hours down to just under four hours. Capable of traveling at speeds of more than 300 miles an hour, the new bullet train will have three classes of service and a dining car.
Jiva Spas, the luxury Indian spa brand from Taj Hotels Resorts and Palaces, will be offering Jiva Yoga Retreats at its two major spas opening in Bekal, Kerala, and Madikeri, in Coorg. Four- and seven-night retreats include morning and evening yoga sessions that draw from the Bihar School of Yoga, plus theory classes, chanting and evening meditation. The spas will welcome guests with traditional Indian rituals — including foot baths, anointing and garlanding — and feature treatments unique to each region (the signature Coorg experience is the Gudda bath, a wood-fired bath in an outdoor pavilion). All treatments use local ingredients and are inspired by royal traditions and spiritual practices. (tajhotels.com/jivaspas)
Hong Kong has fast become the wine capital of Asia — last year, it surpassed both New York and London in volume of wine sales — and the city’s international Wine and Dine Festival is becoming Asia’s most popular culinary event. This year, from Oct. 27 to 30, the third annual festival will be held on the West Kowloon Waterfront Promenade, and will include more than 250 wine and food exhibitors from around the world. (discoverhongkong.com)


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Westland Biggby Celebrates Store Birthday with 99 Cent Drinks
Location Thanks Community for Their Support Over the Last Five Years on Oct. 29
WESTLAND, MI, Oct. 24, 2012 – Put on your party hat and head over to Biggby of Westland (37644 Ford Rd.) on Monday, Oct. 29 as the store celebrates their fifth birthday with a present just for you! Customers can get their favorite sweet and creamy, hot or iced latte for only 99 cents all day long!
“Our community means so much to us and the support and love they have shown us over the past five years is cause for celebration,” Mohamad Elfakir, store owner, said. “We opened in 2007 when the economy was pretty shaky to say the least, but because of our fans we are here today and we want to thank them for that.”
This past summer, Biggby of Westland was awarded as the 2012 “Store of the Year Award” at the company’s franchise-wide annual meeting. Based on customer nominations and voting, the store also took home the “BIG ‘B’ Cup Award,” which is award every year to the one store in the system that best embodies the core values and operating philosophies of the B happy brand.
“The past few months have been very exciting for us and there’s not a better reason than our store anniversary to have even more fun than usual and share it with us customers,” Elfakir said. “We are looking forward to seeing everyone from the community come out as we kick off another five years in Westland.”
The celebration will begin at 6 a.m. on the 29th and continue until 9 p.m. To stay up to date on all the happenings at BIGGBY of Westland, visit their Facebook page: http://goo.gl/QODnb
About Biggby Coffee®
East Lansing, Mich.-based Biggby® Coffee opened a single store in March of 1995 based on the founding principle that coffee-lovers and the coffee-curious alike would benefit from a less pretentious approach to the standard gourmet café paradigm. Biggby Coffee introduced connoisseur-worthy drinks with pronounceable names like Teddy Bear and Caramel Marvel, and barista staff surprised guests with simple gestures like free kazoos and bouncy balls for no other reason than to brighten their day. The “Big ‘B’” on the orange background caught on, and today Biggby Coffee has 159 cafes open or under contract across eight states including: Michigan, Ohio, Illinois, Indiana, South Carolina, Wisconsin, Florida, and Texas. For more information, visit www.biggby.com


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NICOLA Sturgeon will officially relax the two-metre social distancing rule in Scottish pubs, restaurants and shops when we enter Phase Three of lockdown.
The First Minister said the two-metre guidance on social distancing will be retained but one-metre exceptions will be allowed from the end of next week.
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Ms Sturgeon said: "'When we enter Phase Three of the route map, which I hope will be the end of next week, we will allow exemptions for specific sectors where agreed mitigations must be put in place.
"To be clear, these will be exceptions. The general rule, in law, will be that businesses and services will take all reasonable measures to ensure that 2m distancing is maintained."
But what are these mitigations, and what do they mean for our wining, dining and shopping experiences?
Here's everything we know so far...
Pubs and Restaurants
Under plans for Scotland's route map out of lockdown, beer gardens are set to open on Monday, July 6.
A week later, on July 15, restaurants and pubs will be able to open indoors.
When they do, they will have very strict guidelines to follow in order to reduce social distancing measures from 2m to 1m.
These include no standing - all customers must be seated, and face coverings to be worn by all staff.
"Reduced noise measures" also mean no background music - such as jukeboxes or DJs - in venues to stop customers from shouting.
Pubs and restaurants will be required to have clear systems for safe ordering and payments such as contactless ordering using apps.
Bosses are also responsible for taking cusomers' details for test and trace purposes, making sure there is good ventilation indoors, and ensuring safe use of toilets.
Meanwhile, the Scottish Government has stated there must be clear signage to show that people are entering a one-metre zone.
And customers may be seated with perspex screens between tables and seating areas.
Many shops including Primark and Ikea have already reopened their doors to the public.
But shopping centres and non-esential stores will finally be able to join them on July 15 - four months after lockdown forced them to close.
And they will also have specific mitigations to follow if they hope to reduce social distancing measures to 1m.
Nicola Sturgeon today announced face coverings will be mandatory in shops from July 10, for customers and staff.
The Scottish Government has also called for one-way systems and staggered arrival and departure times of staff under new 'one-metre zone' rules.
Shops must be operating with contactless payments, not cash.
And hand sanitation facilities will be expected to be in place at all entry and exit points, and common areas - with hand sanitiser for employees also provided.
There must also be screens installed to create a physical barrier between people at areas including till points.
Other measures will include clear signage, tannoy announcements, and increased ventilation.
Mandatory face coverings have already been introduced for public transport, which continue to run with reduced services.
In a bid to reduce social distancing to 1m, people will also be required to sit back-to-back or face-to-back on buses, trains and ferries.
Operators must make sure there is enhanced ventilation and perspex screens should be in place in some situations.
Mounted sanitiser, wipes and bins should also be readily available to customers and staff.
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In other lockdown news, Nicola Sturgeon has announced a five-mile travel limit will be imposed on some parts of Dumfries and Galloway due to the 'cross-border cluster' of linked cases.
Scotland's national clinical director Jason Leitch yesterday revealed there has been a "complex but small cluster" of positive patients in Dumfries and Galloway.
The "single-figures" outbreak was discovered in Annan and Gretna, Prof Leitch told yesterday's daily coronavirus briefing.
And the First Minister today explained that because of that, residents in the area will have to stick to the travel restriction, despite it being lifted for the rest of the country.
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