text:
The Federal Competition and Consumer Protection Commission (FCCPC) says Nigeria needs more regulations to ensure that consumers are protected in the country.
Babatunde Irukera, FCCPC chief executive officer (CEO), said this in his keynote address at the commission’s maiden seminar held in Lagos.
Speaking on the theme, ‘competition and consumer growth in the Nigerian business landscape,’ Irukera said a regulatory framework has become essential at a time when consumers’ role in the country’s business landscape has become pronounced.
He said besides ensuring consumers get value for their spending, a good regulatory framework engenders healthy competition needed for business growth.
The FCCPC chief dismissed claims consumer protection stifles business growth.
“It is a tragic paradox to say consumer protection stifles business growth. We have got businesses that believe their survivalbility and sustenance is about the quality of their products and competition in satisfying consumers. How can that same business argued at the regulatory framework which protect what is considered the sustainability becomes bottlenecks? How do know that an economy is doing well is through consumer spending. Consumer spending is a key index to measure how well an economy is performing,” he said.
“Consumer spending is as much a matter of consumer satisfaction as it is to disposable income. Disposable income is not the only reason people spend. People spend because they are satisfied and they spend again and so any regulatory framework to ensure that that is happening is not a bottleneck, rather it is an enabler. So, there is nothing more fallacious than the perception that consumer protection to the ease of doing business. If you look at the United States which has the freest commerce in the world, there are multi-levels of regulatory frameworks and oversight in the consumer protection space, whether it is security or safety. So, it is pure rhetoric to say consumer protection frustrate business growth.
“We in a time where quite frankly, we must look inward and see how our people are sufficiently protected, their rights and respected, their needs are what businesses provide and that our businesses can also thrive. One of the things I found out in my short time in office is that both appetite, audacity, knowledge and competence are absolutely available in the Nigerian businesses, perhaps at the level you can find in the best environment. In any organisation that are succeeding well in the world, you will be amazed at the key roles Nigeria play in pushing their successes. And so, if we have that appetite, we have those skills, we must contribute to the framework that provides us if not the competitive advantage, at least a level playing field.
“It is important that we work together so that we can create that framework, that will not only continue to make us an incredibly attractive market, but one that democratizes profits so that we can can benefit from both consumer and market sides, we can benefit from our markets as much as those that we opened our markets to. And what Holla is doing is therefore is commendable and most in. FCCPC today has its headquarters in Abuja and nine offices across the country, six in the geopolitical zones One in Lagos, Kano Abuja for obviously reasons. And this is dealing with about 200 million Nigerians in 774 local governments. In the absence of watchdogs like Holler! How much ground can we cover? That is why is an extremely important effort, especially by people who comes from commerce and understands consumer protection not just from a cynical activism stand point, but purely from a commerce and business stand point. Therein in that combination lies the stability and the hope of better protection and better businesses.
On his part, Peter Bamikole, director, enterprise development centre, Pan-Atlantic University, asked the FCCPC to think of ways of making its activities known to Nigerians.
Bamikole, who was a panelist at the event, said many Nigerians are enduring several challenges in their day-to-day transactions with businesses but lacked knowledge of where to channel their complaints.
Goodluck Obi, another panelist at the event, who spoke on ‘how to win in the Nigerian consumer landscape’, said companies in Nigeria must leverage on the growing market in the country by providing value and satisfaction to consumers.
He said it was essential if they are to successfully navigate the competition and threats inherent in the country’s business landscape.
“How consumer markets companies can thrive in the midst of competition and threats is to define brand ambition and vision, be where the customer is, attract the right talent and internalise regulations,” he said.
A highlight of the event was the launch of the ‘Holler’ website — a free online customer and consumer review platform.
”Holler’ interface is where customers can review the services they receive, know that the review will be available to them as required and can be viewed for reference and channelled to the organisation and appropriate authority for immediate remediation,” Marie-Therese Phido, chief executive officer (CEO), Elevato and Associates, said.
“Organisations and service providers can also use the site to see what their customers are saying and use this feedback to provide better service and gain more customers and loyalty.
“The Holler platform works with organisations and key stakeholders to ensure that the customer and the service provider relationship in Nigeria is optimal and focused on better customer experience for all.”


text:
There is not yet an official roster for the North American Edible Insects Coalition (NAEIC) - which is the brainchild of Robert Nathan Allen, founder of Austin-based non-profit Little Herds - but Six Foods (Chirps), Entomo Farms, EXO and Chapul and other high-profile players in this emerging industry will all be at the initial meeting on Thursday (May 26) at the Eating Insects Detroit conference at Wayne State University (May 26-28).
Allen told FoodNavigator-USA: “At this point there isn't an official roster, as this first planning meeting will be where the stakeholders/Board of Directors and members are decided. However, I've had personal discussions with every major company in the [edible insects] industry and they all agree that a trade association is an imperative for the successful growth of the movement… [so] it is highly likely that the current major players such as Chapul, Exo, Chirps, Entomo Farms, Aspire Food Group, Big Cricket Farms, Cricket Flours, Crickers, and Bitty will all be involved.
“Beyond the industry companies, advocates and researchers like Marianne Shockley and Julie Lesnik plan to be involved, and Little Herds will be playing a key role as a nonprofit stakeholder in moving the organization forward in a responsible and transparent way.”
We’ve moved beyond the ‘OMG, eating bugs!’ phase…
He added: “We are forming the North American Edible Insects Coalition trade organization because the ‘OMG, eating bugs!’ phase is done and most consumers have heard of consuming crickets as an alternative protein.
“The edible insect industry is now in the consumer mainstream with entry to grocery stores like Publix and retail outlets such as Disney World… Our goal is that soon the average US consumer will enjoy cricket tacos and easily as we now enjoy a sushi roll.."
It remains to be seen whether edible insects can move from the niche to the mainstream of US food culture, but a $4m cash injection into cricket protein bar brand Exo - one of the pioneers in this nascent category – suggests bugs may have broader appeal than originally thought. Click HERE.
The key roles and initial projects will be decided at this meeting, he said, but the likely priorities, in no particular order, include:
“More research into insects and food allergies, research into automating production and processing methods, market research on likely adopters and consumer hurdles and expectations, lobbying for clear regulations to be adopted and enforced, lobbying for insects to be considered a commodity, and allowing access to subsidies which will allow insect products to compete on price point with other proteins that already receive huge subsidies paid for by taxpayers….
“And of course, concerted marketing and public awareness campaigns educating the public about the industry as a whole."
Six Foods: Insect foods aren't a trend on their own. Or they would just be a noveltly
Speaking to FoodNavigator-USA ahead of the conference, Rose Wang, co-founder of Cambridge, MA-based Six Foods – which makes cricket protein-packed snack chips under the Chirps brand - said that the ‘OMG, eating bugs!’ factor had generated a lot of positive PR for Chirps and other players in the space.
However, companies in it for the long haul are acutely aware that once the novelty wears off, they have to tap into broader trends in the food marketplace, from sustainable protein to healthier snacking, she said.
“Insect foods aren't a trend on their own. Or they would just be a noveltly. We're tapping into demand for clean protein, for transparency, for healthier snacks. So we use cricket flour, but we also use navy beans, pea flour and chia seeds, and when we talk about insects, we talk about the benefits they bring and how they can tap into bigger trends."
She also acknowledged that if the edible insect movement is to meaningfully impact the protein market by displacing other animal-derived protein sources that are less sustainable, cricket companies will have to move beyond bars and chips into new areas over the longer term, from bug-packed patties to taco fillings.
However, snacks are a great ‘gateway’ food, she said: “We just want Americans to start getting used to the idea of insects as a food, and over time people will become open to eating them in other forms."
Like many bug-food pioneers, the bulk of Six Foods’ sales are done online right now, but the brand is slowly making its way into bricks & mortar stores, and recently rolled out to cafeterias at Disney World, which has generated a lot of buzz around Chirps, she said.
“It was a huge validation for our brand.”
“The biggest challenge of being an entrepreneur is that every day can be the best and worst of your life. I think we must have called 400 co-packers before we found someone that was willing to work with us, but it was still a YES even if we had to have 399 NO's to get it. You just have to keep your head up and keep going.”
Rose Wang, co-founder, Six Foods (Chirps)
Read more about the Edible Insects Detroit conference HERE.

domain: news


text:
(Pocket-lint) - Way back in May, Panasonic announced a new line-up of plasma televisions, which, as well as HD viewing, caused all sorts of excitement by also offering internet connectivity.
The web-enabled PZ850 series of Viera Plasma HDTVs are currently only in the States.
However, just last week, Intel and Yahoo announced a partnership that would see widgets developed for TV sets -Intel will provide a new chip for television manufacturers while Yahoo will supply the software.
At the time, the two companies hinted that they were working with a number of software developers, and also Samsung and Toshiba, which boded well for new models.
Well - here's the first.
Intel, Yahoo and Samsung have teamed up to launch InforLive - which, like the Panasonic service, sees TVs offering integrated internet connectivity.
The official announcement is expected at IFA later this week.
But what we do know for the meanwhile is that the service will include news, finance and weather information direct from Yahoo, and accessed using the TV remote control.
This means, as we detailed last week, that you will be able to watch TV programmes but also be able to glance at a "ticker tape" of news which you can also opt to be on-screen.
The internet content is delivered using the TV's integrated Ethernet port or via a Samsung wireless LAN adapter.
The service will be rolled out in Canada, Australia, Singapore and throughout Europe by the end of the year.


text:
The future of the fan-favorite runner is looking bright.
An early look at the Ultra Boost 4.0.
The sneaker unveiling comes on the day Adidas released its 2016 sustainability report.
Multicolored accents appear on the popular running shoe.
The possibilities are endless.
Speaking with FN, Troy “Kickasso” Cole shared details on his upcoming label and Beckham’s creativity.
Never compromise on comfort.
The new women’s-only sneaker arrives this week. Here’s how to get it.
The athletic company will sell some exclusive Ultra Boosts during Lady Gaga’s midgame performance.


text:
FEARS of a major potato shortage are growing as farmers across the state struggle to get crops in the ground as record wet conditions continue.
Shortages of both fresh and processing potatoes now look likely as growers battle with saturated paddocks and waterlogged crops. With the huge costs and rising inputs associated with growing potatoes any major crop losses or yield reductions could have a serious financial impact on growers. Simplot processing potato committee chairman Leigh Elphinstone described the situation as serious.
He said many growers who would have finished planting crops by now have not even been able to get on to their paddocks. “I’d normally think they’d be 60-70 per cent finished planting by now, but down our way they’re only about 25 per cent of the way through,” he said. “People are getting nervous because there’s a lot that would like to see their crops in by early November at the latest, but there’s no way they’ll get them in by then.”
Mr Elphinstone said planting late risked lower-than-optimum yields and a late harvest could see growers struggling to get crops out of the ground before winter. “You won’t have enough heat units to grow the crop to its optimum so you’re starting to take off yield potential and there could also be some quality issues as well,” he said.
“I’ve had heaps of growers calling me in the last week or 10 days and they’re worried about trying to get their crops in but also whether they’ll be able to make a return out of it.” After a poor season last year and low returns, Mr Elphinstone said another disastrous season may see some growers chose not to continue growing the crop.
He also said some crops which had already been planted may be damaged by the record rains. Simplot was hoping to contract 330,000 tonnes of potatoes this season as supplies of potato chips across the country run low, however Mr Elphinstone said it was now unlikely the company would be able to secure anywhere near that amount. Supplies of fresh market potatoes are also under pressure.
Local grower Terrance Rattray said supplies of his Yum Tasmanian potatoes would be restricted to just Tasmania over the next four months as they deal with the seasonal difficulties. While they now grow most of their crops on well-drained red soils, Mr Rattray said wet conditions at planting had caused delays and now harvesting was also an issue due to saturated soils. He said last week they had just finished digging potatoes that should have been harvested in August. Southern growers the Daly family are reporting losses of 2000 tonnes of fresh potatoes.
Business Manager Ruby Daly says it’s the first time since she joined the family business seven years ago that she has seen the farm temporarily close as a result of supply issues due to weather.
“This means customers won’t be able to source our potatoes through the major supermarkets or independent retailers we usually supply,” she said.


text:
For the very first time in India, Exito Media Concepts Pvt. Ltd. is organizing a unique initiative of co-hosting the 7th edition of Exotic Wedding Planning Conference, and the 2nd edition of IndiaMICE Conclave in Bangalore, India, on the 13th-15th of March 2019. The platform will see a confluence of the biggest buyers from the MICE (Meetings, Incentives, Conferences, and Events) and wedding planning industries coming together to learn, network and forge business collaborations.
The event will host more than 150 top and emerging wedding planners from over 50 countries, and similarly, 150+ corporate MICE buyers across industries in India, to connect with respective solution providers, hotels and properties, Indian and international tourism boards and convention bureaus.
The Indian wedding market is growing in leaps and bounds with passing years. Apart from the local Indian weddings, the country is gaining popularity as an exotic and attractive option to host destination and premium weddings from across the world. This booming sector is bridging new opportunities for entrepreneurs, start-ups and organizations along with developing more systematic and streamlined practices.
Further, the inbound and outbound MICE travel to and from India has steadily been on the rise. The modern Indian corporates are actively participating in business travel to facilitate incentive travels, events, business development and marketing, conferences, among other increasing MICE activities, and are on a look-out for new and unique MICE destinations and properties to cater to versatile organization needs. The Ministry of Tourism of India has also identified MICE as a major area of promotion under the “Incredible India!” campaign.
Don't want to miss out on the latest trends for your wedding?
Subscribe to our newsletter.
This conference is one of its kind platform providing enormous opportunity to build a strong professional network with solution providers and among the fraternity to foster collaborations for future projects. It is an event also developed to be content-rich to enable extensive learning on the trends, traits and troubles in both industries. Also, industry experts will address details on future prospects of the businesses. The latest edition took place in Goa in September 2018, and was a roaring success for all those who attended.
The industry leaders and experts who will be hosted as speakers will be seen sharing their immense experience in case studies format and encourage active delegate engagement via panel discussions to ensure prolific sessions. Apart from the learning aspect, numerous networking activities and windows will be kept open for connecting with the fraternity and solution providers. The conference is planned to prove to be the ultimate platform to establish business associations and harness growth.
Taking place in March next year, there are no excuses for not being ready to get going! Book your tickets to Bangalore today, reserve your space at the conference, and discover a whole new world of wedding planning – learn from the very best, and take this incredible opportunity to network across the globe.


text:
On Tuesday the Anchorage Assembly unanimously approved a license for the city’s first legal cannabis retail outlet. Given that licenses for cannabis cultivation were approved a few months ago and the cannabis is ready to be sold, this means that Alaska’s largest city will have an operating cannabis retail outlet within a matter of weeks. […]
The post Anchorage Assembly Unanimously Approves First Legal Cannabis Retail Outlet appeared first on The Weed Blog.
Read the rest of this article here … (we didn’t write it)


text:
(WTAJ) — Walgreens announced an expansion of their same-day prescription delivery service to allow a convenient way for customers to get medications they need, nationwide.
“Same day prescription delivery is one more way Walgreens is empowering patients to easily and conveniently manage their health,” Walgreens President John Standley said, in a press release.
Patients refilling eligible prescriptions can enroll by texting “Join Rx” to 21525. After refilling an eligible prescription, patients may select same-day prescription delivery through the Walgreens website or app. Delivery fees vary by location.
“We are pleased to make this service more widely available so that patients can refill and manage prescriptions from the comfort of their own homes and have medications delivered to their doorsteps in a matter of hours,” Standley continued.
The service is now available in nearly all locations, seven days a week.
Aside from prescription deliveries, Walgreens already has a delivery service program in place for customers in need of basic drug-store products sent to their homes.


text:
Even though Americans have become inured to product placement, it was impossible not to notice the deft bit of branding that SpaceX founder Elon Musk pulled off before Saturday afternoon’s launch of the Crew Dragon Demo-2: For the quick drive to launch pad 39A at the Kennedy Space Center, astronauts Doug Hurley and Bob Behnken climbed into a sleek, showroom-new Tesla Model X.
Call it opportunistic or co-branding, it’s the sort of high-visibility stagecraft that’s possible when the founder of America’s leading private space company and the owner of its leading electric-vehicle brand happen to be the same man.
As a marketing opportunity, it was close to perfect. SpaceX’s partnership with NASA furnished the necessary entrée for Tesla. And not only was the snow-white Model X a sleek match to the white space suits that Behnken and Hurley wore, the $85,000 SUV’s gullwing doors allowed for easy boarding for the astronauts and looked mightily space-age while they were doing it. Best of all, since SpaceX essentially pays Tesla for various pieces of equipment, the cost to the automaker was essentially nothing.
Musk has some experience with space branding, of course. In February 2018, the eccentric and outspoken executive got the Tesla name stratospheric visibility as part of the Falcon Heavy Test Flight. Bolted to the top of the rocket’s second stage was Musk’s former daily driver, a $100,000 midnight-cherry roadster with a mannequin named Starman in the driver’s seat, his elbow casually resting on the convertible’s door.
Tesla wasn’t just piggybacking on a rocket ship—the brand rode into American living rooms courtesy of the Launch America livestream (paid for by NASA, which is to say: you and me). On YouTube, the launch notched over 2.3 million concurrent views.
But while business luminaries praise Musk for his marketing mastery, industry graybeards know that space branding is, actually, an old trick. Quite a few brands have preceded Tesla into orbit, either by playing an instrumental role in the actual missions or simply riding along through a combination of good luck and corporate funding. Here’s a look back at some of the brands that have gone to the stars:
When Buzz Aldrin landed on the moon on July 20, 1969, the Apollo 11 astronaut wore a 200-pound A7L space suit—and Omega Speedmaster watch on his wrist. The timepiece wasn’t a fashion accessory—NASA had selected the watches four years earlier for their reliability, proven in 1970 when the astronauts of the ill-starred Apollo 13 mission used the second hands to time the 14-second burn that aligned them for atmospheric reentry. In recent years, Omega introduced a Moonwatch commemorative edition; price: $9,650.
Cola-Cola (and Pepsi)
In 1985, product engineers at Cola-Cola designed a special can that NASA loaded onto the STS-51F mission of the Space Shuttle Challenger. Fitted with a special valve, the can’s mission was to deliver soda to the astronauts’ mouths without getting sticky soda droplets all over the cabin.
When executives at rival PepsiCo learned that Coke was blasting off, they insisted their brand be included, too. The soft-drink mission got its share of media coverage at the time, and Coke milked the incident for a bit more in 2014, when astronauts drinking in space was the theme of a 60-second Olympics ad. So: Did the astronauts prefer Coke or Pepsi? Neither, actually, since the drinks were both flat and warm by the time they reached orbit.
In 2008, NASA struck an educational partnership with Disney that resulted in a slew of online games and videos. But none of those noble components got as much attention as a foot-tall action figure of Buzz Lightyear, leading man of the Disney/Pixar Toy Story franchise. In May, Buzz blasted off as part of the Space Shuttle Discovery’s STS-124 mission. After docking at the International Space Station, Buzz spent 467 days in orbit. As if all that publicity weren’t enough, Disney got more earned-media attention in 2012, when the Smithsonian accepted the special Buzz figure into its permanent collection.


text:
Panini America, the world’s largest sports and entertainment collectibles company and the Exclusive Trading Card Partner of the NBA, announced that it will become the title partner of the 2024 NBA Rising Stars. This marks the first time that a trading card company has been a title partner of an NBA All-Star event.
Panini Rising Stars will tip-off on Friday, February 16th, at Gainbridge Fieldhouse in Indianapolis. The game, which will be broadcast nationally on TNT, will feature the NBA’s top rookies and sophomores, coached by NBA legends, competing in a four-team bracket style tournament.
“Panini Rising Stars is a natural extension of our partnership with the NBA, given that the league’s top rookies and young players are key elements of Panini’s exclusive NBA trading card products,” said Jason Howarth, Senior Vice President of Marketing and Athlete Relations for Panini America. “We look forward to celebrating these great young players during All-Star.”
Panini will have multiple opportunities for fans to join in the celebration. Fans in attendance will receive special NBA Rising Stars packs, and there will be cards from the Panini Rising Stars games available for fans to purchase on its Panini Instant platform shortly after the event conclusion. There will also be exclusive content featuring the Panini Rising Stars participants available across social platforms, and fans can follow all the action via the custom hashtag #PaniniRisingStars.
Trace ‘N Chase is a proud Panini Authorized Retailer and carries a wide lineup of trading cards and memorabilia!
Keep up with all products, blog posts and news posted on our website.


text:
Watch today's Pocketnow Daily as we talk about the Samsung at Galaxy F at Unpacked? LG G8 Renders, Price Tag & more
The FCC has published label information for the upcoming Nokia 9 PureView, and it talks about both a single- and a dual-SIM version.
Watch today's Pocketnow Daily as we talk about the rumors of the Galaxy S10 selfie camera capabilities, iPhone XI with Touch ID? & more
This fresh Nokia 9 PureView render we're looking at doesn't contradict the camera layout we've seen before, but it does ditch the notch.
Watch today's Pocketnow Daily as we talk about Samsung taking steps into true Optical Zoom, iPad Mini 5 with Touch ID & more
A couple of HMD teasers for the Nokia MWC 2019 event have been leaked and, if legit, they confirm the Nokia 9 PureView and another punch-hole phone.
HMD Global is preparing a special pre-MWC event for February 24. While we hope it's the Nokia 9 PureView, it could also be something else.
A new report seems to confirm what we've previously been hearing about the Nokia 9 PureView, namely that it will arrive before MWC.
We now get a video that gives us the possible specs and some important features of the new Nokia 9 PureView that's closer than ever
According to a recent rumor from Russia, the penta-lens Nokia 9 PureView should become official earlier than we thought, between CES and MWC.
It is maybe for the first time that the Nokia 9 PureView is being officially mentioned, and we're hearing that there are some delays.
A recent report claims that the name of an HMD device coming soon will be Nokia 9 PureView. We're wondering what device that might be.
Apparently there's still room to see if we get not just one or two, but three or more Nokia phones in this month of October.
A penta-lens Nokia 9 would bring five cameras to the back of the smartphone alone. Check this out to see how it might look.
Take a look at this Nokia 9 render. It takes all the recent leaks and rumors of the penta-lens smartphone and details them.
The penta-lens Nokia that's been rumored and partially leaked is back in a real-life photo showing off all five of its cameras
Nokia is teasing its "most awaited phone" for August 21, which probably means that the Nokia 9 is just around the corner to take on the competition.
The Galaxy Note 9 apparently will get Fortnite as a launch exclusive, but will that really help sales out? Will tariffs ruin everything? It's all on our show today!
It'll have a refined look, feel and overall design, but at what cost? Is it enough for stock Android? Will it be justified with other hardware on-board?
Reportedly codenamed A1P, A1 Plus and AOP, HMD Global's first true flagship is likely to go official at IFA Berlin as the OLED-sporting Nokia 9.
If this plausible-looking but crazy-sounding "leak" is to be trusted, the Nokia 9 could well start a new "camera revolution", combining some of the best Huawei P20 Pro and Galaxy S9+ technologies.
A fingerprint scanner embedded directly into the screen of an upcoming Nokia 9 smartphone could be its key selling point, alongside a dreamy penta-lens camera setup.
HMD Global probably has a bunch of exciting new Nokia-branded stuff to showcase at MWC 2018, and you can watch all the action unfold on YouTube.


text:
Peterbilt and Local Motors launch online competitionThu, 07 Jun 2012
Peterbilt Motors has teamed up with Local Motors to launch a new online competition, the Peterbilt Road Icon Generation 2 challenge.
The challenge is to design the next generation Peterbilt Icon, using existing elements of the cab to create a more aerodynamic, modern and stylish product. Designers will have the support and feedback of Peterbilt designers and engineers throughout the submission stage.
"This has been an exciting partnership," said John B. Rogers, Jr., President, CEO and Co-Founder of Local Motors. "We believe the community will create a truly amazing work of art for Peterbilt."
Participants must submit their work by midnight on 26 June, with voting beginning on 28 June and ending on 8 July. The winner will be officially announced on 23 July.
Peterbilt will award $15,000 in prizes, with the winner, selected by the Peterbilt team from the top 10 community-voted entries, receiving $7,500. The designers who are awarded second and third places in the community vote will earn themselves $2,500 and $1,500 respectively. Those who complete the top ten results will receive $500 each, also selected through a community vote.
To find out more visit the competition website.
By Rufus Thompson


text:
Following Tesla's announcement to purchase Riviera Tool LLC, investors bought the wrong stock, which had a similar name. Regulators had to step in and stop trading of the tool and die company's shares.
FCA still plans to launch Ferrari's IPO in the third quarter of 2015, but is delaying distributing the rest of the stock to current shareholders until early 2016. The decision lets FCA claim some of the Prancing Horse's profits in 2015.
Can A House-Sized Car Payment Actually Net You Money?
You can lease an Aston Martin V12 Vantage S Coupe in the US for $1,900 thanks to a new deal the British brand has with Ally Financial. That's hardly cheap, but we have a way to possibly offset the cost.
GM is investing $5.4 billion in factory upgrades in the US over the next three years. So far, the company is only going into specific detail about the improvements at three plants, totaling $783.5 million.
Toyota is preparing to sell $4.2 billion in special stock that would lock investors in for five years, but pay a higher dividend and could be sold back to Toyota at the issue price so investors wouldn't make a loss.
Ford posted falling figures for several financial metrics in Q1 2015, but pre-tax results increased by $24 million. With many products left to launch, the automaker thinks 2015 could still be a good year.


text:
Leading construction building materials supplier, Aggregate Industries, is delighted to announce a talented 11-year-old pupil from a Doncaster primary school as the winner of its recent truck design competition.
Chosen for her creative and innovative design, Year 6 pupil Poppy Scott from Edenthorpe Hall Primary Academy in Doncaster has been named the winner of the company’s truck design competition, which ran earlier this year. Poppy’s winning entry included Aggregate Industries’ environmental pledge: ‘our commitment is set in concrete’.
The competition, part of Aggregate Industries’ effort to support teachers and parents educating children at home during lockdown, encouraged all schools, parents and pupils across the UK to come up with a fresh new look for one of the company’s concrete trucks.
The competition was also aimed at educating pupils on sustainable construction materials including ECOPact, the company’s new low carbon range of concrete.
Indeed, with Year 6 pupils at the Edenthorpe Hall Primary Academy in Doncaster learning about environmental issues over lockdown, class teacher Jasmine French spotted Aggregate Industries’ vision to create a more sustainable future via its work in the construction sector.
Seeing it as a fun and exciting opportunity for students to complement their learning, pupils we’re encouraged to enter the truck design competition and given two weeks to get creative and submit their final designs.
Jasmine French, Poppy’s Year 6 teacher, comments: “It was an excellent and exciting competition to make the pupils more aware of how businesses are adapting to ensure the government’s target of Net Zero 2050 is met. All of the children love a competition and were very happy about the prospect of having their own design on a truck. Poppy was ecstatic when she found out and her classmates cheered and gave her a round of applause.
“I couldn’t be any prouder of all of the children who entered the competition, as they all put a lot of thought into their designs. When I got the call to say that Poppy had been chosen as the winner, I was absolutely delighted. Poppy really cares about the environment and climate change, and I know that winning this competition meant a lot to her.”
The leading construction materials supplier has since had one of its concrete trucks wrapped in Poppy’s design by CGI Visual, which will be seen driving up and down the country in the coming months. Aggregate Industries also gifted each child who entered the competition with a £20 Amazon voucher as a thank you for taking part.
Barry Hope, Managing Director of Ready Mix Concrete at Aggregate Industries, added: “We’re delighted with Poppy’s winning entry, which really encapsulates what this competition and the launch of ECOPact is all about. Poppy’s brand new, fresh design looks great on our concrete truck but more than that it’s great to hear the competition has helped to educate pupils on sustainable construction materials that are helping to build a greener society that will benefit us all.”
ECOPact concrete which launched last year in response to the construction industry’s demand for more sustainable products, boasts up to 70% less embodied carbon than traditional concrete.
To find out more information about Aggregate Industries and its products, please visit https://www.aggregate.com/


text:
New company will handle concessions and hospitality services at UPMC Park
The Erie SeaWolves announced Friday that team ownership has formed a food and beverage company to handle concessions and hospitality services at UPMC Park.
Happy Howler, LLC will be the new concessionaire of UPMC Park beginning this season.
"The company will be responsible for delivering a high-quality food and beverage experience for the over 250,000 patrons attending SeaWolves games and special events annually at UPMC Park," the SeaWolves announced in a news release.
Jeff Burgess will serve as the director of food and beverage and will oversee all aspects of concessions and hospitality service at the park. The SeaWolves said Burgess has 35 years of experience in the food and beverage industry. He most recently was the director of operations for the Ninety-Nine Restaurant group and oversaw restaurants in Massachusetts, New Hampshire and Maine.
The new company is seeking employees to fill a variety of roles for game day food and beverages. Those interested may attend the SeaWolves Job Expo on Feb. 23 from 10 a.m. to noon at the Erie Insurance Arena.
The SeaWolves open at UPMC Park on April 5 against the Trenton Thunder (New York Yankees).


text:
Redwood City, Calif. – April 25, 2013 – Actian Corp. (“Actian”), a next-generation leader in big data management, today announced the immediate acquisition of ParAccel, a leader in high-performance analytics.
The acquisition further strengthens Actian’s unique position as a major global player with one of the most powerful infrastructure portfolios to deliver business value from big data.
“Actian is building a modern, highly innovative end-to-end database, integration and analytics solution aimed squarely at solving today’s growing data challenges,” said Robin Bloor, chief analyst and co-founder, The Bloor Group. “With the ability to capture, ingest, analyze and take action on data at scale, Actian is now very powerfully positioned in the big data and data analytics markets.”
“Today’s software will fail to cope with complexities of big data,” said Steve Shine, CEO of Actian. “The Actian software portfolio, which is specifically designed to fully exploit modern hardware architectures, arms organizations with an unmatched single platform to connect to any data, analyze it at scale for relevance and take action to turn big data into business value.”
A selection of Actian’s big data innovation includes:
- Actian DataCloud: A cloud platform for managing data including a powerful integration suite architected to provide frictionless and elastic access to any data on premises or in the cloud.
- Actian Vectorwise, Actian RushAnalytics and ParAccel: Analytic suite architected to exploit modern chips and multi-core servers to provide predictive and ad-hoc analysis at extreme scale and speed, including the acceleration of today’s Hadoop solutions.
- Actian Action Apps: Architected specifically for business users to be able to take action on any business event as it happens directly from their mobile device.
“ParAccel is being used by many of the world’s leading companies including Amazon, The Royal Bank of Scotland, OfficeMax and MicroStrategy to set them apart from their competition through analytics,” said Chuck Berger, CEO of ParAccel. “With Actian, they have immediate access to a broader portfolio of solutions to turn their data into value.”
Joint customers of Actian and ParAccel already experience the value of the combined solution set. “As a provider of right-time business intelligence as a service to innovative automotive manufacturers and dealerships, Autometrics aggregates data from 150 sites totaling millions of records per day, which must be deduplicated, loaded, analyzed and validated in shorter and shorter timeframes to drive clients’ critical business decisions,” said Stephen Shaw, Autometrics’ CEO. “With the myriad of data integration capabilities from Actian and the ParAccel Analytic Database, we are able to give automotive manufacturers rapid measures of lower funnel demand to optimize their marketing initiatives, sales incentives and inventory management.”
About Actian: Take Action on Big Data
Actian Corporation enables organizations to transform big data into business value with data management solutions to Connect, Analyze, and take automated Action across their business operations. Actian’s innovative portfolio of solutions for big data include cloud integration for frictionless connection to any data; analytical solutions specifically engineered to handle the extreme speed and scale of data intensive computing; Action Apps for automated action on business events as they happen and managed B2B exchanges that automate business processes in select industries. Headquartered in Redwood City, Actian helps clients worldwide manage and understand their business operations through offices in Austin, New York, London, Paris, Frankfurt, Hamburg, Amsterdam and Melbourne. Stay connected with Actian Corporation on Facebook, Twitter and LinkedIn.
Actian, Action Apps, Ingres and Vectorwise are trademarks of Actian Corporation. All other trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.
To gain a competitive advantage in a fast paced, data-driven world, companies need immediate answers to any business question they decide to ask. As the leading analytic platform provider, ParAccel delivers an environment for unconstrained analytics and opens the door for companies to accelerate, innovate and compete. ParAccel Analytic Platform combines an analytic database with extensibility and integration technology as a foundation for running big data analytics, anytime, anywhere. ParAccel’s Fortune 1000 customers, in digital media, retail, financial services, healthcare and government, are testing the bounds of unconstrained analytics with this powerful, interactive analytic platform. For more information please contact us at firstname.lastname@example.org or 866-903-0335. The conversation continues on Twitter, Facebook and LinkedIn.


text:
Kedma Mishloach Manot sales increase amid pandemic
By Daryl Perry
To celebrate Purim this year, Kedma, this university’s Orthodox Jewish group, sold mishloach manot (traditional gifts of food) to students. Parents also bought Purim-themed gift bags from Kedma for their children to add to this year's festivities.
“A lot of our holidays, unfortunately, are ...
Students celebrate Purim amid COVID-19
By Brandie Bland
A year into a global pandemic and a few days after a campus-wide sequester order went into effect, students at this university enjoyed a time of celebration during Purim.
Purim—a carnival-like holiday featuring costumes, music, dancing and lots of delicious hamantaschen—marks the ...
Purim celebrations undimmed despite growing COVID-19 concerns
By Laina S. Miller
Purim, celebrated this year on Monday evening and Tuesday, arrived in the midst of the growing international COVID-19 outbreak. Traditional celebrations, including parties, gatherings for the reading of the Book of Esther and sharing of gifts, triggered confusion and fear in the face of ...
Despite lack of tradition, students describe Purim party at Stamp as huge success
By Char Freedberg
This university’s Purim celebration was filled with the usual things one would find at a Purim celebration: food, noisemakers, an upbeat mood and costumes galore.
The holiday celebrates one of many instances in Jewish history when someone tried to kill Jews but did not succeed. The STAMP ...
Purim falls over break, but spirit doesn’t break
By Yakira Cohen
Last year, junior philosophy major Mikey Pollack paraded around campus in a red cowboy hat and an army t-shirt to celebrate Purim. This year, he isn’t even sure if he will dress up.
Although the holiday usually unites students in celebration, Purim will fall on the Thursday of spring break ...
Make your own hamantaschen!
By Jacqueline Hyman
You could easily buy a pack of hamantaschen in the store, but the pickings at Shoppers aren’t great and it’s a long drive to Shalom Kosher or Max’s. Plus, there's something fun about folding the edges and pinching the corners yourself. So in case you want to, here’s a video explaining ...
Backman’s Corner: Why do we dress up on Purim? Where did this tradition come from?
By Eli Backman
For the Mitzpeh
It all started one year after someone celebrated a little too hard and didn’t want anyone to know who he is, was and what he did…
Okay the story of Purim, Cliff notes style:
Characters listed in book
Mordechai, Esther, Haman, Achashverosh, Vashti, Charvonah, Bigsan and Seresh. These individuals ...


text:
We decided to look into the best ways to support frontline staff during the COVID-19 pandemic, speaking to over 30 experts across a number of areas including hospitality, health care, and transport. For Dr. Alka Patel, simple compassion is often a good place to start. “Doctors are notoriously resistant to reaching out for help for themselves,” said Patel, who has set up the Work Well Doctors, a support network offering mental-health support for NHS workers. “The best way to show you care is to ask after any health-care staff you are in contact with.”
When it comes to supporting transport workers, including TfL staff, the best thing to do may be nothing. “Nearly a third of TfL’s staff are now off sick or self-isolating — including train drivers and crucial control centre staff,” said Sadiq Khan in a statement. “We still need more Londoners to do the right thing and stay at home.” As part of our lockdown coverage, we’ve also reported on how to safely accept home deliveries, including how to keep your delivery person safe.
How to give money
As the most urgent products — such as NCP 6N nitrile examination gloves, ventilators, and respirators — aren’t available to the general public, one of the best ways to support health-care professionals is by donating money.
Causes like Salute the NHS — a partnership between Tesco, Yodel, and catering company Absolute Taste — have pledged to deliver 1 million meals to NHS staff, including ICU staff, anaesthetic teams, and A&E staff, who are often unable to leave clinical areas during their 12-hour shifts (the current protocol being adopted by all COVID-19 designated hospitals). “This service enables them to stay close to wards at all times without having to change out of protective clothing,” a Yodel spokesperson told the Strategist UK. Check your borough or local council for schemes in your area. Cheltenham and Gloucester Hospitals Charity, for example, is crowdfunding for snacks, bottled water, and toiletries.
How to give PPE
“Despite the government and NHS shipping millions of items of PPE every week, there remain gaps at the frontline in the fight against COVID-19,” said a spokesperson for the Doctor’s Association UK. The Let’s Beat COVID initiative, in partnership with DAUK and NHS Hero’s Support, is collecting donations to provide better PPE for all NHS doctors, nurses, and clinical staff. They have already ordered 10,000 FFP2 masks and are now sourcing visors, coveralls, and scrubs as well as alcohol hand gel.
The government has issued official guidelines for companies wishing to make high numbers of personal protective equipment (PPE) to help tackle COVID-19. Once assessed and approved for use according to European regulations, any PPE can be produced for NHS health-care workers and donated via the government.
There are also schemes in place allowing small businesses to donate their PPE (personal protective equipment) to frontline workers. Check your local council’s guidelines. Or, why not donate to the National 3D Printing Society — they are making their own face shields from scratch, and will be delivering nationwide.
MedSupplyDriveUK (MSDUK) is desperately seeking industries who can donate PPE across Scotland, Wales, and Northern Ireland. And Masks for Heroes, a scheme founded by Karl Melkerts and James Hogg, is building a database of companies or individuals with excess or unused masks, goggles, and respirators in order to provide them to local charities and hospitals. “We want to have the information ready in the event that our health workers run low on key infection prevention supplies,” a spokesperson told the Strategist UK. “We are appealing to any businesses who would normally use PPE to check if they have any spare items they’d be willing to donate,” Melkerts and Hogg said in an email. “No matter how small a supply you have, it could make an important difference.”
How to give food
As well as respecting NHS-only shopping hours at supermarkets, there are crowdfunding campaigns and local restaurants working to get food to NHS workers, who are often working 24-hour shifts.
“We’re sending out 200 to 300 pizzas — that feeds between 1,000 to 1,500 staff — a week, across five local hospitals,” marketing manager Georgina Hayward tells the Strategist UK. She adds that Yard Sale are hoping to increase their delivery radius and frequency soon.
Pastry chef Dominique Ansel has joined Feed Your Community, an enterprise that aims to provide free meals to NHS staff, frontline workers, the homeless, and privileged children. And restaurants such as Benares in Mayfair are donating a meal to NHS workers across London hospitals for every takeaway ordered.
How to donate toiletries
Health-care workers are spending days at a time away from their homes, so toiletries and basic hygiene products are now essential for staff, and very much in demand. Jo Jones and Sali Hughes, who set up Beauty Bank, have launched Helping Hands, a GoFundMe raising money for toiletries and other essential products. They will be allocating spending on soap (adult and baby), body wash, handwash, hand sanitiser, and laundry detergent, and the funding page states, “All donations will be shared with Beauty Banks’ UK registered charity partners that include food banks, homeless shelters, domestic abuse refuges, youth centres, NHS trusts and refugee centres across the UK.”
And a few ways that companies are giving back to NHS workers
We’ll be updating this story with additional companies that have NHS and keyworker schemes. If there’s a company or a discount you think we should feature, email us: firstname.lastname@example.org
In an Instagram post, Sweaty Betty wrote that they’re offering a 25 percent discount to all health workers — we reached out them to ask if that applies to sales items, and they’ve let us know that it does. You can livechat on the Sweaty Betty site to apply the discount.
The Strategist UK is designed to surface the most useful, expert recommendations for things to buy across the vast e-commerce landscape. Read about who we are and what we do here. Our editors update links when possible, but note that deals can expire and all prices are subject to change.


text:
FlavorSum has released a flavor trends report for 2023, designed to identify innovative ways to create enjoyable flavor experiences. The report features flavors that target health, experience-driven tastes and more.
Related: FlavorSum Acquires Meridian Flavors
Highlights of the report include:
- Citrus flavors ranked as top flavors launched in immunity beverages over the past five years. The citrus components work double duty in these launches as an indicator and moderate source of the immunity benefit.
- 42% of U.S. adults like their food/drink to contribute to both their mental and physical health, according to Mintel.
- Beyond tie-ins with functional products, flavors can provide benefits by creating pleasurable experiences or evoking happiness through memories. Developers who want to target stress relief could shift away from a functional ingredient to a less direct approach with flavors that feel good—simple, nostalgic, indulgent. Flavor can transport people, and when flavor takes them back to a childhood backyard bonfire with gooey marshmallow or sweet apple cider, the sense of enjoyment extends beyond taste.
- Fusion flavors, such as the trendy sweet and spicy, newer sour and spicy, and traditional sweet and savory, are expected to continue to gain popularity.
- 43% of U.S. consumers are motivated by indulgent flavors when choosing a frozen treat to try. (Mintel)
- Floral and botanical flavors are still relatively young in the world of food and beverage but are expected to continue growth because they offer elevated taste profiles and added functional benefits.
- Tastewise highlights gains in trending floral flavors like ylang-ylang (+42% YOY in consumer interest) and echinacea (+24% YOY in consumer interest).
- While still primarily popular in the beverage and nutrition categories, the earthy floral and botanical notes have a place in categories like bakery, dairy and confections.
- Mushrooms are popping up everywhere and brands have plenty of white space to innovate with the umami flavor. Mushrooms have become increasingly popular as plant-based alternatives flood the market, but they also offer their own unique taste profile. Mintel reports that “manufacturers are largely missing an opportunity to engage consumers by not emphasizing the unique flavor profiles of different varieties.”
- 36% of U.S. consumers have tried mushroom flavors in snacks and liked it; 19% haven't tried it but would like to. (Mintel)
- Some people want the multi-layered tastes and exciting flavor experiences that come along with an alcoholic beverage without the side effects of alcohol. To address this need, expect to see brands turn to alcohol-inspired flavors more often across food and drink categories. As the sober curious movement gains momentum (Note: Mintel reports that “gen Z adults drink less than older generations”), developers can discover ways to deliver the experience without the hangover.
- Social media can inspire people to try new tastes. In 2023, this trend will continue to pick up and brands will increasingly monitor and respond to ideas born in the social space. More brands and influencers are partnering, with an expected uptick in food and beverage launches coming from those relationships.
- According to Mintel, Nearly 80% of Canadian adults believe internationally inspired foods are good ways to experience other cultures.
- According to Mintel report, kids and teenagers globally spent 91 minutes per day on TikTok in 2021.


text:
Samsung has released Android 11 update for a wide range of its devices ranging from flagship to mid-range. Now, the Android-11 based One UI 3.1 update starts rolling out to Galaxy A90 5G users in South Korea.
The Galaxy A90 5G bearing model number SM-A908NK is receiving the latest build with firmware version A908NKOU3DUC3. In addition to Android 11 and One UI 3.1 goodies, it also brings March 2021 security patch.
The update should bring features like chat bubbles, private share, new UI design, AOD customizations, one-time permission, dynamic lock screen, more lock screen widgets, dedicated conversation section in the notification area, and auto permission reset.
Samsung Galaxy A90 5G users in South Korea, who have not received the update yet can check it manually by heading to Settings >> Software update. As already mentioned, it is currently rolling out in South Korea, but may reach other regions pretty soon.


text:
North Korean state media on Friday released four new official propaganda posters focused on economic development, with one prominently featuring several recognizable domestic consumer brands.
The inclusion of such branded consumer products represents a first in several years for the line of primary propaganda posters, which receive attention in state newspaper Rodong Sinmun and other outlets and which are displayed throughout the country.
The release of the new posters was accompanied by an article in Friday’s Rodong saying the new batch was produced to “rally the people to carry out the campaign for increased production in accordance with the goals of the 5-year economic strategy.”
That poster’s slogan reads, “Guard the Party for the sake of the goals of the 5-year strategy for national economic development!” calling on the people to “walk in lockstep with the central Party and ideology to continuously innovate and advance the revolution.”
The poster primarily references the country’s industry, including the familiar molten metal industrial theme and products including coal, fertilizer, steel, and even patterned fabric.
But one poster with “5-year strategy” in bold at the top and carrying the slogan, “[Let’s achieve] the best outcomes and [put forth our] greatest efforts in the campaign for increased production!” points the viewer directly to the idea of increasing market share of domestic brands.
Such promotion of domestic brands, and even specific shopping malls, has appeared of late in similarly-styled propaganda posters for sale to foreign tourists, and are frequently featured in other ways in state media, but have not shown up in the official line of posters since 2015.
Earlier this year and in years past, consumer goods have shown up in the posters, but typically as generic items without brand names.
In previous examples of branded goods, medical products were featured prominently in posters in 2010 and 2014, packaged meats and other foods in 2014, and the Pyongyang Children’s Department Store (평양아동백화점) in 2015.
In the newest poster, clearly visible are sports shoes made by the Ryuwon Shoe Factory (류원신발공장), Sonamu or “Pine” (소나무) branded children’s backpacks (produced in various factories), and products from the Pyongyang Cosmetics Factory (평양화장품공장).
The illustrated spread of products in the background also appears to be recycled from another poster from eight years ago, which carried the slogan “A decisive change for the lives of the people!” and a neon sign for a generic “Department Store” in the background.
That version even featured an image of a bottle of the well-known Taedonggang Beer, though this is absent from the new poster.
Many of these logos would only be recognizable to the trained eye or to North Koreans already familiar with their presence on store shelves.
All of the above mentioned recognizable brands, however, have been featured heavily in the past in state media, with Kim Jong Un making official on-the-spot guidance visits to many of the factories.
They all also utilize modern branding, packaging, and designs which would not look out of place on store shelves across the border in South Korea – North Korean manufacturers are known to have taken inspiration from southern competitors in the past.
But while these brands – all property of state-owned enterprises – now appear to be receiving even more recognition, a multitude of other companies are producing consumer products and gaining visibility as the country places a priority on “self-made” goods.
Kim Jong Un stated this goal in his 2018 New Year’s Address, saying that “light-industry factories need to… produce and supply more diversified and quality consumer goods with domestic raw and other materials.”
Other recent propaganda posters, including one purchased at a shop for foreign tourists and obtained by NK News, do appear to follow a similar theme of overtly advertising domestic brands.
However, these have not appeared in the “Propaganda” (선전화) sections of state-run sites like DPRK Today or Naenara – which proudly announce the release of more official state slogans – since 2015.
Still highly political, however, this one proclaims, “For the people, with the General’s noble love!” with three modern women in traditional outfits carrying multiple shopping bags.
It includes depictions of branded storefronts and shopping bags for the Kwangbok Area Shopping Center, Mansugyo Meat Shop, Samilpo Specialty Store, Samilpo Exhibition Center (with a visible bar code on the bag), Hungsong Ryongsong Meat Shop, and Pothonggang Department Store.
While the new, more official propaganda posters released today do not include as clear a nod to the capitalistic shopping experience, the presence of brand names represents another step in the ongoing changing attitude towards brand-based consumerism.
Peter Ward, NK News columnist and researcher on the North Korean economy, points to the airing of “infomercials” on state television in recent years, which promote domestically-branded products and stores.
“Happy customers are also shown in shops, and there is often reference to one of the Kims, and their visit there in the past or their policy ideas contributing to economic improvement,” Ward said, providing examples such as a visit to the Mangyongdae Kyunghung Foodstuff Factory (만경대경흥식료공장) and the Unha Taesong Foodstuff Factory (운하대성식료공장) producing “Taeha”-branded products.
“The shops/production facilities are always praised for contributing to the improvement of the People’s lives/living standards and upholding the party line. They are also often extolled (in the case of factories) for plan fulfillment,” he added.
The new posters, he said, can be viewed as combining “advertising in content with the form of politically-correct agitprop.”
As for the two other new posters, one is focused on agriculture and encourages people to “unconditionally work vigorously on the campaign for increased production and take up the agricultural production goals!”
The other focuses on the ever-popular topic of building construction, saying, “Let’s become brilliant creators of the large-scale construction battle under the principle of taking responsibility and guaranteeing for all eternity!”
Absent again, as with almost all official posters this year, are any signs of missiles or anti-U.S. sentiment.
Edited by Oliver Hotham
Featured image: KCNA
Join the influential community of members who rely on NK News original news and in-depth reporting.
Subscribe to read the remaining 1094 words of this article.


text:
Newell Brands Steps Up Online Efforts as Mall Traffic Slumpsby
Calphalon, Sharpie maker’s sales surge on acquisitions
Attention on e-commerce as consumers shun malls for online
Newell Brands Inc., the consumer-products giant that bought Jarden Corp. for $15 billion in April, is looking to expand its web presence as consumers continue to shy away from mall shopping.
The move comes as Newell, whose brands include Calphalon, Sharpie and Yankee Candle, saw the shift in habits weigh on fourth-quarter results. While sales more than doubled to $4.14 billion in the three months ended Dec. 31, the total fell short of the $4.27 billion analysts estimated in a Bloomberg survey. The company’s shares slipped 3 percent as of 8 a.m. in New York premarket trading.
Newell’s been through a “massive amount” of change since the Jarden acquisition and has its “hands full” as it moves to close multiple deals in the next three moths, Chief Executive Officer Michael Polk told Bloomberg News in a phone interview.
“It feels like we have come through the transition period and that we are now in the startup phase,” Polk said.
The investments in online can’t come soon enough, as store performance for brands such as Yankee Candle and Calphalon fell short the Hoboken, New Jersey, company’s forecasts as fewer shoppers than predicted went to the mall during the holidays.
Newell also cut the lower end of its 2017 forecast for core sales growth to 2.5 percent from 3 percent, while leaving the top end unchanged at 4 percent. The 2016 rate was 3.7 percent. Polk said the cut came on the expectation that mall-based retailers will continue to struggle as consumers accelerate the migration to the web.
The company forecast full-year sales of $14.52 billion to $14.72 billion, less than analysts’ estimate for $15.13 billion. Polk expects sales growth to pick up later in 2017 and into 2018.
Fourth-quarter adjusted profit matched Wall Street expectations of $0.80 a share, and the company boosted its 2017 adjusted per-share profit forecast range by 10 cents to between $2.95 and $3.15.
Newell shares have surged 28 percent in the past year, outperforming the broader consumer-discretionary group in the S&P 500 Index. The stock is up 5 percent so far in 2017. Signs of faster wage growth and growing confidence among American consumers has sent retail shares higher since Donald Trump’s surprise election in November.
Polk says the new administration’s promised pro-growth policies likely won’t have any material impact on Newell’s business in 2017, and that it’s too soon to comment on potential reforms to trade and tax regulations.
The “devil is in the detail,” he said. “Winning companies adapt to their environment and take advantages of changes like this to serve their agenda.” On any given topic of reform, there may be “a huge opportunity to consolidate market share.”
Polk was listed among executives assisting Trump on an initiative to create more manufacturing jobs in the U.S. according to White House statement.


text:
The Society of Motor Manufacturers and Traders (SMMT) thinks consumers are dangerously ill-informed about modern diesel technology.
In a YouGov poll, 54 per cent of responders said they thought cars and vans were the biggest cause of air pollution in the UK – in fact, pollution from cars pales into insignificance compared to that from power stations.
Diesel has been given a hard ride by policy-makers, too. Some local councils are choosing to levy an additional charge on residents who want to park their diesel car on the street – despite 72 per cent of motorists opposing this move. The SMMT, motor manufacturers and we at carwow think this is a bad move.
Euro emissions standards
Car emissions are measured against a standardised scale set by the European Commission. The standards drive down pollutants produced by cars by periodically tightening regulations in stages. Each stage is expressed as a number with Euro 6 standard being the current benchmark. Some car brands are now offering scrappage schemes that offer extra savings on new cars when you trade in a car rated at Euro 4 or older.
- Euro 1 – 31 December 1992 to 31 December 1996
- Euro 2 – 1 January 1997 to 31 December 2000
- Euro 3 – 1 January 2001 to 31 December 2005
- Euro 4 – 1 January 2006 to 31 December 2010
- Euro 5 – 1 January 2011 to 31 August 2015
- Euro 6 – introduced 1 September 2015
From September 1 2015 all cars sold in the UK must conform to Euro 6 guidelines but 87 per cent of those surveyed by YouGov said they didn’t know what this meant. Euro 6 defines the maximum amount of pollutants a car can produce. The drive to reduce these has resulted in cars that are 29 per cent more efficient than they were in 2000 – two years ahead of target.
For diesels in particular, Euro 6 regulations have reduced soot emissions by an unprecedented 99 per cent. Modern diesels can produce up to 20 per cent less CO2 than equivalent petrol cars so, as Graeme Grieve, CEO of BMW UK says, diesel “has a vital role to play in helping arrest climate change”. For comparison, it would take 42 million Euro 6 diesel cars to produce the same emissions as a single coal-fired power station.
Manufacturers have gone to extreme lengths to reduce diesel pollutants – and an increasingly common method is the use of Adblue exhaust after-treatment fluid. Adblue is a mixture of distilled water and urea – the same stuff you’ll find in wee – and, when injected into the exhaust gasses, it can help to reduce harmful nitrous oxides (NOx). Work in this area has reduced NOx emissions by 81 per cent since 1990, and you’ll increasingly find Adblue tanks on modern diesel cars.
Will the worries about diesel efficiency stop people buying cars that run on the stuff?
Chief Executive of the SMMT, Mike Hawes, said: “The allegations against diesel cars made in recent months threaten to misguide policy making and undermine public confidence in diesel. It’s time to set the record straight”. We at carwow agree the proposed surcharges for diesel cars are completely unfit for purpose and we encourage car buyers to keep choosing the models best suited to their lifestyles – be they petrol, diesel or otherwise.


text:
The Sahara group has denied recent media reports which claimed that the Board of Control for Cricket in India (BCCI) raised objections to its latest television advertisements for its retail venture.
The media reports had claimed that the BCCI had asked the Sahara group, the Indian cricket team's sponsor, to withdraw advertisements for its 'Q' Shops featuring top players in controversial shots. The advertisements showed Sachin Tendulkar performing the last rites at a funeral, Virender Sehwag replacing a cradle with a hospital bed, Yuvraj Singh digging a grave, and Virat Kohli bringing a wheelchair.
The reports are "baseless," a Sahara group spokesperson said. "We have served a legal notice on them (newspapers) for allowing their newsprint space to be used for such false claims. We are trying to ascertain where this fabrication has originated from."
The ad campaign, on air since August 15, promotes Sahara's "adulteration-free" retail shops. The group earlier this month announced its foray into the retail sector with an investment of Rs 3,000 crore. It launched its own brand of products across 73 different categories, such as staples, processed foods, personal care and home care products, which will be sold through a direct-to-home delivery system.
"The campaign has received appreciation from various sections of the society. The objective is to make people conscious of the dangers of adulteration, which the advertising has achieved," says the Sahara spokesperson.
The news reports also cited a BCCI official as saying that Sahara had breached the rules of the sponsorship agreement by featuring eight players in its advertisements while the board permits only three. The Sahara spokesperson said the claim is false and concocted. "There is no truth in this allegation and there is no such condition in the agreement."


text:
SAN FRANCISCO (KPIX) – Many business owners in San Francisco didn’t know what to expect on day one of phase two for reopening business after the COVID-19 shutdown.
Overall, foot traffic was slow across San Francisco but stores were eager to open for curbside pickup after being closed for two months, and neighborhoods looked a bit more energized.READ MORE: UPDATE: 15 Injured, 20 Rescued After Fire Erupts Inside San Francisco Tenderloin Apartment Building
Donna O’Leary owns Ambiance, a clothing and accessories store with three locations in the city.
“It’s not really great for our kind of business,” she said. “It’s okay, but since people like to try things on, makes it a little tricky.”
O’Leary says she would not have survived the pandemic without government relief loans.
Still, only two people took advantage of curbside pickup on Monday.READ MORE: UPDATE: Willow Fire Grows Past 2,000 Acres Near Big Sur, Evacuations Ordered
“We sold a pair of sunglasses this morning, because we can show them the sunglasses,” said O’Leary. “They put gloves on, we have gloves and masks, so everybody stays good, but with the regular way retail works, there’s not much they can really do.”
Like many other retailers that relied on brick and mortar sales, O’Leary is now gearing up to launch an e-commerce website.
Down the street at Video Wave, one of San Francisco’s oldest video rental stores, owner Colin Hutton says there wasn’t a huge rush when he reopened.
“There’s been a lot of conversations with people about how things are working now, so there’s a lot of information that’s being transferred,” he said. “I’ve had a few transactions, I’ve had a few drop-ins that I wasn’t able to have before. I signed up a new customer today, which is the first time in a couple of months.”
Mayor London Breed showed her support for small businesses reopening for curbside pickup.
She was spotted getting a book from Green Apple Books on 9th Avenue near Golden Gate Park.
“I’m so happy about this book, I don’t know what to do,” said Breed. “I’m so happy to come here and pick it up, and I’d been even more happy if I could go in and look for a few other books, but I’ll just go online and see what they have.”


text:
Arrested: Schenectady Man Allegedly Threatened to Blow Up Walmart
The Saratoga County Sheriff's Office made a quick arrest on Sunday afternoon by arresting a man they say allegedly made a bomb threat that was aimed at the Walmart in Wilton. The man was charged with Making a Terroristic Threat which is a Class D Felony.
According to a news release from the Saratoga County Sheriff's Office, the alleged call came into the Walmart in Wilton shortly after 4 PM on Sunday, February 28th. That's when officials say that Gregory Craig, 64, from Schenectady made the call in which he allegedly threatened to "blow up the Walmart Store in the Town of Wilton."
According to the news release by the Saratoga County Sheriff's Office, Craig had an undisclosed incident inside that particular Walmart store earlier in the day. The release states that prior to making the terrorist threat, Craig needed to be removed from the store for "an unrelated incident."
Once the threat came in, Sheriffs from the Saratoga County K9 Unit were sent in and went to work. According to the release, they immediately evacuated the premises, and then secured and swept it.
According to the Saratoga County Sheriff's, Craig was apprehended in Ballston Spa a short time later while taking the bus back to Schenectady.
A bomb threat is a threat, usually verbal or written, to detonate an explosive device that could harm to a building, cause death or injuries or to incite fear. A threat is considered a threat regardless of whether or not such a bomb actually exists.
50 Famous Brands That No Longer Exist


text:
The fintech world has been going through a sort of an IPO freeze recently. The headwinds created by certain fintechs this year (looking at you, LendingClub) didn’t help much either. Venture capital funding continued to fall in the third quarter, according to data from KPMG Enterprise and CB Insights. Global financingRead More
Post Tagged with: "TransferWise"
Fintech funding is growing scarce? Maybe, but there are still plenty of big raises to speak of. The five biggest fintech raises this week range from a certain money transfer service in London, to microfinance in Mexico, to the first ecommerce platform developed solely for the sale and distribution ofRead More
In a stunning vote, British citizens decided to leave the European Union, and the so-called Brexit has not just profound implications for fintech, but creates massive uncertainty for global financial services. “How can we be so stupid?” tweeted Eileen Burbidge, a partner at Passion Capital and FinTech Envoy of HMRead More
London-based money movement startup TransferWise announced it has received a further $26 million in funding to expand into the small business market. TransferWise’s valuation now stands at $1.1 billion, according to TechCrunch — so the birth of a fintech unicorns is not a thing of the past. TransferWise allows users to sendRead More
KlickEx is headed to one of the world’s largest markets. The currency exchange service KlickEx, which won SWIFT’s Innotribe Startup Challenge in Sept. 2013, has increased its market penetration in the South Pacific, and is looking to enter a number of major new markets in 2015, said UK-based CEO RobertRead More
I did learn a few journalist skills and habits in my year as COO of ReadWriteWeb. One was to be wary of being spun. The other was to dig below the surface. Over two months ago, on November 10th, a couple of “news” sites reported something along these lines: “Sequoia Capital, the Silicon Valley venture…Read more Transferwise has their $ billion fintech unicorn headline two months after the teaser headline
Financial technology startups are taking over, and people are starting to notice. 12 fintech companies made it to CNBC’s Disruptor 50, the second year that the business network signed out companies upending traditional industries.
The bank of the future probably won’t be made of brick or stone, and may not be much to look at. It’s easier to say what it will do. Entrepreneur and startup mentor Jack Gavigan, who traded tweets with Marc Andreessen and others on the subject back in February, elaborated onRead More


text:
Mr. Price left last year. Woolworths had departed in 2013, and Shoprite left a few months ago. Now Tiger Brands joins the bandwagon as South Africa’s retail/FMCG struggles in Africa’s largest economy: “South African company Tiger Brands, owner of brands like All Gold, Black Cat and Koo, agreed to sell its 49% minority shareholding in UAC Foods to parent UAC of Nigeria.” But this one is not on Nigeria; it is on the southern African companies. Yes, if you look carefully, Nigerian retail/FMCG has a promise, and the locals are outcompeting the foreign players here.
That promise requires a new business model. And if you check at what TradeDepot, Alerzo, Mint and some other B2B ecommerce startups are doing, you will notice one thing: they are improving open market operations, and provided that continues to happen, organized and formalized retail will struggle in a nation with decreasing purchasing power especially for imported products.
The purchase is expected to be completed in September, UAC of Nigeria said in a filing published on the website of the Nigerian Exchange Group. UAC of Nigeria currently owns 51% of UAC Food’s shares.
Tiger Brands acquired a minority state in UAC Foods in 2011, following a joint venture agreement with the Nigerian firm to manufacture and distribute some sausage, ice cream and water brands. It is exiting Nigeria about two months after another South African firm, Shoprite Holdings, sold its operations in the West African country to local investors.
Also, Tiger Brands in 2015 sold its shareholding in Dangote Flour to Nigerian parent Dangote Industries, three years after buying it.
These factors continue to shape the Nigerian retail/FMCG market, making things hard for these organized foreign retailers.
Product-Market Fit: To a large extent, formal retail in Nigeria remains highly underdeveloped due to infrastructures. While it makes sense to go to a farmer’s market in Cape Town and buy a cow, process it and dump in your deep freezer for months, large-scale shopping when there is no electricity makes no sense in Nigeria.
Economy: South Africa at close to 60 million people budgets an excess of $65 billion than Nigeria which is more than 3.5x its population. At a population of 210 million, Nigeria spends a paltry $35 billion when South Africa hits close to $100 billion. So, to a large extent, the middle class in Nigeria is very small and the purchasing power for organized retail may be limited.
Unlike South Africa, Nigeria falls within this segment which reshapes available opportunities for organized retail: “the most significant opportunity for African B2C startups lies with consumers who earn between $4 — $8 per day”. That spectrum is not a very sweet domain for organized retail. You need at least $15 per day to make it fascinating for the likes of Shoprite. So, there is a clear product-market fit dislocation and that has made organized retail challenging in Nigeria.
Also, checking the economy, South Africa collects excess of $85 billion from taxes. Nigeria’s revenue comes down to about $10 billion. This shows the scale of the disparity of the economies.
Competition: From daily to weekly open markets to shop on the street, to traffic sellers, Nigeria is a market. To win as an organized retailer, you have to beat those alternatives. But beating them when they do not tax becomes challenging. If margins remain low, issues crop up. Nonetheless, a new South African firm is in town: Pick n Pay.
You can also add currency in the list. Foreign brands may not like packing Naira when they have to struggle to exchange them for US dollars or Rand for largely nothing. So, the currency deterioration in Nigeria is a very big challenge.
Register for Tekedia Mini-MBA (Jun 3 - Sep 2, 2024), and join Prof Ndubuisi Ekekwe and our global faculty; click here.


text:
Last year, a few days after the release of FIFA 22, we learned that Electronic Arts was seriously considering splitting from FIFA and change the name From the famous football game. A decision that appears to have been taken after many disagreements (including financial) with FIFA.
An announcement that caused quite a stir with anxious players, who didn’t want to lose out on what made FIFA magic: its generous content and official licenses. Electronic Arts didn’t take long to react and reassure everyone by noting that the goal was Just change the namenothing else.
However, after the first waves in October 2021, rumors about a name change died down which made us believe that Electronic Arts had changed its mind. Actually, not really, the American publisher has just given the green light to change the title of the iconic football game.
This is EA Sports Football Club
“EA Sports Football Club, EA Sports FC, that’s the name of the game.” This is the statement of journalist Jeff Group, who said in his special program: Groupsnacks That the American publisher gave the green light to change the name of the legendary FIFA license.
I saw trademarks for it, I thought it might just be a feature like online mode, and I asked about it, that’s it, that’s the name […] They are ready to move forward […] We should hear about it here very soon.
Usually, FIFA games are announced in June or July during EA Play. This year, Electronic Arts will not be introducing a new version of EA Play, so they could reveal very soon (as of April?) the upcoming EA Sports Football Club.
However, according to VGC sources, Electronic Arts have lobbied FIFA to name their next game FIFA 23 whose rights expire in November ahead of the World Cup in Qatar. From next year, the game should bear the name EA Sports Football Club.
So business to follow, one thing is for sure, the days of FIFA licensing in EA Sports are now numbered.
“Hardcore beer fanatic. Falls down a lot. Professional coffee fan. Music ninja.”


text:
Coming soon: series 2
As series one draws to a close, we announce a Best-Of episode due in a few days, and series two’s commencment, soon.
A short announcement
The last 12 weeks or so have seen some trying times for Tech Means Business’s guests, and for us too. But we’re happy to announce that Series Two is now in production, so watch this space.
In the meantime, come back in a few days’ time for a bonus “Best Of” podcast, that’s being ‘cut’ as you’re reading this. All the best bits, hand-picked, remastered, and delivered via your favorite RSS feed-gobbling podcast app. Available here too!
Connect with Joe on LinkedIn:
- Hype or not? Gartner eyes three future cutting-edge tech trends
- Vietnam’s Ho Chi Minh is on the path to becoming a globalized smart city
- ‘Everyone will have one’ — Alibaba unveils personal cloud computer
- Which tech firms will lose out the most in the China-US trade war?
- Why Asia is powering ahead of rivals when it comes to cashless


text:
One of India’s top e-commerce firms Flipkart is looking to invest Rs 5,000 crore to set up the logistics park across the country that will create around 50,000 direct and indirect jobs, reports Business Standard (BS).
The Walmart-owned firm is expected to acquire 300 acres of land across Karnataka, Gurugram, and West Bengal to strengthen its supply chain.
“The Flipkart team is sourcing land privately in Bengaluru, and has identified four sites. In West Bengal, construction is expected to start soon,” said a source to BS. “For Gurugram, land has already been identified for the purpose.”
These fully-integrated logistics parks, which will house Flipkart warehouses, are expected to improve supply-chain efficiency, and reduce costs by deploying mechanised warehousing.
The parks will function as freight aggregation and distribution hub, and utilise technology for intelligent transport systems.
A Flipkart on Tuesday added that the infrastructure being built by the company across the country through these warehouses and logistics parks would help it in tapping the “next 200 million customers.”
Also according to a new LinkedIn survey, Flipkart has been ranked as the most preferred workplace in India for 2019, followed by its rival Amazon.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.


text:
Hotels take retail cue with blue light specials
Published 4:00 am, Monday, April 19, 2010
Free breakfasts don't cut it anymore.
The nation's hotels, still in the grip of an economic downturn, are borrowing the sales strategies from the nation's retailers to woo overnight guests.
If you liked Kmart's "blue light specials," you might like the limited-time bargains offered by Hilton Hotels, among others.
Superstore Beverages & More throws an annual 5-cent sale, but the national hotel chain of Red Roof Inn recently launched a 1-cent sale.
Fans of high-end clothier Barneys New York clamor for its "private sales." But you can also get in on private sales offered by hotels like the Le Parc Suite Hotel in West Hollywood.
LATEST BUSINESS VIDEOS
- Netflix Wants You To Relive the Shows You've Binged-watched Buzz 60
- As the Stock Market Drops, Will President Trump Own It? Veuer
- SpaceX Launches Huge Rocket on First Test Flight Associated Press
- The Coffee Table of the Future HouseBeautiful
- Two Home Improvement Retailers Plan To Hire Over 130,000 US Workers Fortune
- FOX Business Beat: Wall Street lows; Space x rocket Fox5DC
- Betting Big on Bitcoin May Have Backfired Fortune
- This Is Why Most People Would Like to Be Their Own Boss Buzz 60
- Whiplash on Wall Street Brandpoint
- Tinder to Add Bumble’s ‘Ladies First’ Feature Wibbitz
To get through the rough times, hotel managers around the globe are relying on as many as five or more tactics to lure guests, according to a survey released last month by Cornell Nanyang Institute of Hospitality Management.
"There is no question that it's because of the economy," said Robert Gilbert, president of the Hospitality Sales and Marketing Association International, a trade group for sales and marketing professionals in the industry. "We are trying to backfill all of the vacancies."
Hotel guests who get in on these special sales can save as much as 60 percent on rooms, proprietors say.
Jeanae DuBois, a marketing executive from Fresno, booked a hotel in San Francisco for $44 a night through a limited-time sale posted on the Internet to a select group of fans of the Joie de Vivre hotel chain. The rooms normally rent for more than $120 a night.
"These amazing rates are providing me the opportunity to live out my goal of making 2010 my year of travel," DuBois said.
Hotel promotions are nothing new, but hospitality experts say the variety of promotions and the extreme discounts reflect the desperation of an industry that is struggling through one of the worst slumps in nearly a decade.
Among the most popular tactics used by hotel managers are room discounts, extra night's stays and value-added packages that include spa treatments, parking and meals, according to the Cornell survey.
Hotels are also using social media more often to draw in customers, the survey said.
"Whenever there is a big drop-off for hotels, we use any and all mechanisms to drive business," said Clem Bason, president of Hotwire.com, the online hotel booking site that discounts room rates by providing the names of the hotels only after guests reserve a room.
There is good reason for hotels to pull out all the stops.
The average occupancy rate in U.S. hotels in 2009 was about 56 percent, the lowest it has been in more than 20 years - even lower than the average during the travel-wary days after the terrorist attacks of Sept. 11, 2001.
Revenue per room has dropped even more, leaving hotel owners across the country struggling to pay their mortgages.
To lure guests, many hotels still rely on traditional sales strategies, such as offering a complimentary breakfast or an extra night free.
But industry experts say more cash-starved hotels are turning to promotional schemes heavily used in other industries, such as limited-time sales, private sales for select customers, last-minute bargains and discounts for booking nonrefundable rates.
There are also the bargain rates offered during private sales, limited to loyal customers and those who sign up for e-mail alerts via Twitter or Facebook.
The Red Roof Inn chain kicked off a 1-cent sale this month, but limited that price to only one room at each of the chain's 350 properties for each of the 15 days of the promotion.
The reason for such gimmicks is simple: Hotel managers stuck with empty rooms can't offer discounts to a few guests without infuriating the guests who are paying full price.
By relying on such promotional tactics, hotel managers can justify the discounts as special deals, offered only under limited circumstances.


text:
WASHINGTON • US President Donald Trump predicts a major US-China trade deal in the near future, saying that Beijing's negotiating position had been weakened by the impact of the tariff war between the world's top two economies.
"China wants to make a big and very comprehensive deal. It could happen, and rather soon!" Mr Trump tweeted.
His optimism followed China's decision last Friday to back off from extra punitive duties that had been imposed this summer on US-made cars and auto parts.
The move was seen as the first concrete result of the US leader's Group of 20 talks with his counterpart, Mr Xi Jinping, earlier this month.
Those tariffs now fall from 40 per cent to 15 per cent - the same rate imposed on all foreign-made vehicles. The relief will last for three months from Jan 1.
"Suspension of the tariffs is a concrete measure to implement the consensus reached by the two heads of state," said the announcement by the State Council's Tariff Commission Office, noting it applied to 211 product codes.
Mr Trump said the climbdown showed that China had been forced to blink in their on-off spat, after months of heavy US tariffs on Chinese imports.
"China just announced that their economy is growing much slower than anticipated because of our Trade War with them. They have just suspended US Tariff Hikes. US is doing very well," Mr Trump said.
Beijing's move also demonstrated that talks to resolve the trade conflict have survived the tension sparked by Canada's arrest of a top Chinese telecoms executive at the behest of US law enforcement.
Mr Trump and Mr Xi agreed on the sidelines of the G-20 summit in Buenos Aires on Dec 1 to a 90-day truce while they tried to find a solution to the escalating trade dispute.
Confusion and unease over what agreement the two sides reached in Argentina have roiled stock markets.
But trade negotiators talked on the phone last week to discuss a timetable for talks.
Last Friday's announcement in Beijing also confirms what Mr Trump said on Dec 2 about China acting on the car tariffs.
US exports to China fell 25 per cent year on year last month as the higher tariffs on hundreds of American goods hurt demand.
In another signal that China may move to satisfy Mr Trump, the country's top legislature announced last Friday that it would hold a session from Dec 23 to Dec 29 to discuss legislation on foreign investment and draft revisions to the patent law.
The US has long complained of a lack of fair access for foreign companies in China and rampant theft of intellectual property.


text:
Android a likely target once mobile crime pays
- By William Jackson
- Oct 11, 2011
Smart phones are becoming a viable means for distributing and executing malware, and the growing use of the open-source Android operating system is enabling an increase in malicious applications, researchers say.
“We’ve been looking at mobile devices for years now,” said Vikram Thakur, principal security response manager for Symantec. “In the last year we’ve seen a huge uptick,” in the amount of malicious software targeting the devices. “But it really isn’t paying off yet.”
The poor return on investment for mobile malware appears to be keeping the market for this type of crime small.
The top cyber threats of 2011, so far
Is the smart phone the new laptop?
“This is still in the informational stage,” Thakur said. “We don’t think they’re making enough money at this stage to spend a lot more time making more malware. It’s not reaching PC malware levels until the bad guys see where the money is.”
Despite the growing functionality and use of the phones, the desktop and laptop PC remains a much richer target for online criminals. “There is a lot more data on one PC,” Thakur said, and it is more likely to be used for financial transactions.
A new white paper from Symantec, “Security Response on Motivations of Recent Android Malware,” reports that many of the attacks against Android were one-off efforts that, although apparently successful, were not repeated because of the poor return.
“Only if these monetization schemes succeed do we expect attackers to continue to invest in the creation of Android malware,” the report concludes.
For mobile devices such a smart phones to become popular targets for criminals, there must be an open, ubiquitous platform to exploit, Symantec researchers said. Android, which accounted for 43 percent of the worldwide smart-phone market in the second quarter of 2011, according to information from Gartner cited in the report, seems to be fulfilling this requirement. But the opportunity to monetize the attacks is not yet mature.
There are active, money-making exploits, such as malicious applications that send unwanted texts to premium rate numbers for which the victim is billed. But such premium rate numbers usually are carrier- and country-specific, limiting the size of and return on the attack.
Search engine poisoning and delivery of pay-per-click ads are other schemes. But where a full-sized PC screen can display 12 to 15 ads, a phone screen will display just one, Thakur said. Rogue antivirus applications for mobile devices appear to be in their infancy because legitimate mobile antivirus is also only getting started.
It also is possible to hijack financial transactions and steal data from mobile devices, the report states.
“Stealing information such as log-in credentials and financial data is the primary motivation for malware in the PC space,” it states. “Mobile devices provide an additional vector when devices are used as payment devices via protocols such as near-field communications that allow someone to pay for goods using their mobile device. How malware may take advantage of mobile payment devices remains to be seen, as this payment method is still in its infancy.”
Thakur warned that online criminals are not ignoring mobile devices while waiting for the market to develop.
“They are absolutely ready,” to exploit them as they become more valuable, he said. The malware works well and there are effective methods of distributing it through Trojan horse programs and downloaded applications. “We’re seeing it get more structured. The more financial transactions or data stored on a phone, the more motivated the attackers are going to be.”
Smart-phone users appear ready to use their devices for transactions, Thakur said. “The users are usually very quick to adopt any technology made available to them. But the vendors need to adopt it, too.”
The use of near-field communications to pay for retail purchases requires not only the technology and software on the smart phone but also at the point of sale. “The infrastructure usually takes longer,” he said.
William Jackson is a Maryland-based freelance writer.


text:
Calling all fintech startups — today marks the opening of the application period for the second class of INV Fintech, a global accelerator operated by Bank Innovation and Fiserv. Interested startups can apply here. The application period will close Friday, September 9. INV, which launched in January, is the firstRead More
Post Tagged with: "Israel startups"
What’s the future of installment credit globally, and in the U.S. specifically? Alon Feit, the CEO and Co-Founder of Splitit, which provides such POS, retail financing, told Bank Innovation that installment credit is trending higher. There’s much going on in the space — and at Splitit, in particular — andRead More
Bank Innovation and Fiserv today announce the launch of Bank Innovation INV, a revolutionary fintech accelerator that will cultivate financial services startups around the world. INV is now accepting applications for its first accelerator class, which will commence this quarter.
Bank Innovation today formed a wide-ranging partnership with LeumiTech, the high-tech services unit of Israel-based Bank Leumi, for its upcoming Bank Innovation Israel. Bank Leumi is Israel’s second-largest bank by assets.
When will the first fintech unicorn rear its head in Israel?
They don’t call it Startup Nation for nothing. With the exception of Silicon Valley, Israel is the world’s top incubator for startups — and fintech is increasingly becoming hot there. Some of the world’s most remarkable fintech startups have their roots in Israel, while big-names banks are starting — orRead More
Citibank announced this week that it will open an accelerator for financial startups in Israel. The bank is already heavily invested in the country, with a technology innovation center that opened in September 2011, and a data intelligence lab that opened in April 2013. The accelerator will accept 5 toRead More