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01. 03. 2018
What’s ahead for 2018 in digital banking?
The outlook for digital banking won’t be too rosy in 2018, to say the least.
With the new year already in full swing, bank executives are probably wondering what 2018 may hold for them. We’ve put together some of the key trends and predictions – spoiler alert: it won’t be all sunshine and rainbows.
Digital banking: the good news
There will be even more opportunities for growth. The number of online payment transactions by any device, for example, is expected to increase by 17.3% compared to last year. What’s more, the volume of mobile payment transactions will rise even more, by 24.4%, according to Capgemini and BNP Paribas.
The outlook on mobile payment revenues is even better. The total value of mobile payments are forecast to rise to $930 billion worldwide from about $780 billion in 2017 and only $450 billion in 2015. Revenue growth influenced by digital alone will jump to 12% in 2018 from 5.3% in 2015, unlocking about $180 billion per year, Cognizant and Roubini Global Economics say.
Digital engagement is becoming easier, prompting even more banking customers to switch from physical structures to new sales channels. In fact, most financial organizations will not see half of their customers or clients in 2018, Forrester predicts.
To no one’s surprise, the share of millennials and Gen Xers using digital banking will see an all-time high. TSYS expects that 92.1% of U.S. millennials will use digital banking in 2018, up from 89.6% a year earlier, with the same share rising to 79.2% from 76.9% among Gen Xers in the U.S. over the same period.
Customer demand and stronger competition are forcing banks to splurge out on digital transformation. The hottest areas for digital retail banking development will include analytics, cloud systems, artificial intelligence (AI) and robotic process automation (RPA). The digitalization of back office structures is also expected to spread in 2018.
A whopping $2.2 billion: this is the sum corporate banks will invest in analytics and big data projects in 2018, up by 20% from 2017, IDC expects. Spending on next-generation authentication methods will increase by 20%, and 15% of global banks with assets of $10-500 billion will have partnered with cloud-based lending-as-a-service platforms by the end of the year.
2018 can be the year when incumbent financial institutions team up with their most dreaded rivals to boost business. Yes, we’re talking about tech giants, like Amazon, Facebook and Alibaba, who are already testing the waters with certain financial services.
This new breed of partnerships will move beyond working together with smaller fintech startups, the Financial Brand reports. Of course, it will be quite a challenge to determine the conditions of teaming up with tech companies, as banks don’t want to rely too much on their ecosystem competitors.
Open banking blues
Everyone seems to be in the dark about how open banking will evolve in 2018. By the end of the new year, 50% of the biggest (Tier 1 and Tier 2) banks will offer at least five external APIs, but IDC expects revenue from digital business to be disappointingly low, at least at first.
Most banks have already failed to convert customer data to strategic advantage over tech giants, fintechs and challenger banks. And more than 50% of them will fail to make use of open banking in 2018, Forrester adds. Their fate might be turning into an ’unintentional utility’.
Penalty for laggards
Delaying digital developments will have grim consequences for banks in 2018. Let’s say they don’t mitigate digital disruption at all: in this case, the global average return on investment (ROI) would drop to 7.4% from 8.6% in 2016, McKinsey says. In a more optimistic scenario, with no digital disruption whatsoever, average ROI is estimated to fall back to 8.2%.
Some banks will be doing better than others in becoming digital and those lagging behind are expected to pay a high price, AKA the ’laggard penalty’. This is the difference in both cost and revenue performance coming from technology. Penalty, accumulated since 2015, is expected to add up to a handsome $951 million on average for each digital laggard by 2018, Cognizant and Roubini Global Economics say.
Sigh of relief
On the regulatory front, banks have won some time. The EU’s revised Payments Service Directive (PSD2) will come into effect in January 2018, but two of its provisions on stricter security measures for payments and the abolition of screen-scraping will now be partially delayed.
This is good news for most banks, no doubt, as the industry still seems to be scrambling to be PSD2-ready. Three-quarters of respondents in the latest Marketforce survey about retail banking said they expected fewer than half of banks to be ready for the original deadline.


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This week’s been a whirlwind! Hot takes include Jeff Bezos stepping down, a 78-year-old internet prophet, Nike’s latest advancement in inclusive sneaker design, and the beautiful collision of data and professional wrestling.
You can’t escape the Attention Economy
Michael Goldhaber might not be a name familiar to most, but the 78-year-old theoretical physicist turned internet prophet was one of the earliest predictors of the trappings of the Attention Economy. As far back as the mid 1980’s Goldhaber was recognizing the trends — access to information, entertainment and opinion was growing beyond the bounds of human attention — and his predictions of where that would lead us have proven to be eerily accurate: rampant polarizations, alternate versions of ‘reality,’ and the elevation of extreme personalities and points of view.
You’ll see the parallels between this piece and the book Don’t Waste My Time the strategy team wrote back in 2019. In it, we focused primarily on the impact of the attention economy on the individual, but how do we expand that thinking to take into account the societal impact?
“Our ability to pay attention is limited. Not so our ability to receive it,” Goldhaber wrote. In a world without focus, it’s often the loudest and most shameless attention-seekers that are able to command one. “It felt like an expression of a world in which everyone is desperately seeking their own audience and fracturing reality in the process.” Nuance, modesty, and rational discourse just can’t compete.
How do brands factor into this dynamic? Instead of competing for smaller and smaller slivers of our attention in more and more intrusive ways, how can we help our brands earn that attention? How can brands create space for their customers to be more intentional with their own limited focus?
Jeff Bezos steps down as CEO and what that means about the future of Amazon
After a year of explosive, pandemic-fueled growth by Amazon, Jeff Bezos announced he was stepping down as CEO and moving to an Executive Chairman position. It was a move few saw coming, but his replacement tells a lot about where Amazon’s future growth lies.
Amazon has spent years building a massive audience of users who’ve grown increasingly dependent on the low prices and free 2-day shipping, but the margins on that model are razor thin. The real profit driver is AWS. In the latest quarterly earnings report, AWS brought in $12.7 billion in revenue — only roughly 10% of Amazon’s total, and yet it accounted for over half of Amazons profits. AWS has been called “the backbone of the internet,” so it should be no surprise that the person tapped to step into Bezos’ shoes is Andy Jassy, a 24-year Amazon veteran and longtime head of AWS.
Was this all part of their master plan? Since the news broke, Amazon’s stock price has barely budged. A new leader is in place, but the relentless march towards world domination continues.
Nike takes a big step towards inclusivity
In 2015, Nike launched their FlyEase line to design athletics shoes more accessible to those with disabilities. Traditional laces were replaced with straps, zippers, or even app-controlled self-lacing systems. This week Nike launched the next generation of those efforts, the Go FlyEase, an entirely hands-free design with an innovative midsole hinge that allows wearers to simple step in and step out of them without the use of hands. And they’re damn good looking, too.
Props to Nike for continuing to use their considerable design and engineering resources to push the needle on adaptive footwear, and a reminder to all of us that inclusive design is an iterative process, not a one-and-done effort.
You Can’t Argue w/ Data
Just for fun, please enjoy the greatest use of data analytics in WWE history, Courtesy of our resident wrestling superfan Marty Mercado. “The numbers don’t lie!”
Picks of the Week:
Watching: Tiger, HBO’s 2-part deep-dive into the rise and fall of Tiger Woods, and the forces that shaped his life.
Reading: Uncomfortably Happily by Yeon-Sik Hong. Recommended for any of us in the creative world who’ve dreamt of escaping to the mountains and living the simple life.
Listening To: Collapsed in Sunbeams, the beautiful, raw and remarkably honest debut album by 20-year-old London-based singer-songwriter Arlo Parks.

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Last month we hosted our ‘South East Fashion Innovation’ event at @TheLabE20. We had featured talks from the incredible Christopher Raeburn (RÆBURN), Yasmin Jones-Henry, Professor Jane Harris, and Dan Chilcott .
It was an opportunity to gather some of our fashion focused programme members together, as well as meeting some new and exciting businesses who work in fashion in the South East.
Yasmin Henry-Jones gave an incredible introduction the The Lab E20 space, speaking about her passion for creative spaces and the vital ecosystem they bring to an area.
We then heard from Christopher Raeburn about innovative fashion, circular sourcing, and most importantly collaboration as a pathway to success in the creative industries. Collaboration and innovation were the stand out features of the evening, and we loved sharing in these discussions and how they can empower creative businesses.
Professor Jane Harris spoke on her road to collaboration and the many pathways fashion has taken her on in the creative industry. From motion capturing fabric movement, to helping assist animators in material realism for digital costuming, we learnt about the versatility of skillsets the fashion industry had to offer, and how fashion can work with the creative industry as a whole.
It was great to see so many fashion and design businesses from across the South East get together to discuss growth and collaboration in the design industry more, as well as enjoying the Lab E20 space, and a few cheeky canapes too.
For more news about our upcoming events, check out our newsletter below.


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Hyundai Motor India sales down 10.9 pct in November
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The Hyundai Motor India Ltd today reported a 10.9 per cent in its total sales in November at 49,681 units as against 55,762 units in the same month last year.
The company's domestic sales were down 3.6 per cent at 33,501 units during the month from 34,751 units in November 2012, Hyundai Motor India Ltd (HMIL) said in a statement.
Exports during the month were down 22.99 per cent to 16,180 units from 21,011 units in the same month last year, it added.
Commenting on the sales, HMIL Senior Vice-President, Sales and Marketing, Rakesh Srivastava, said: "After the festival season, market has been sluggish due to unfavourable macro-economic factors and the low market sentiments resulting lower customer enquiries."
India's largest carmaker Maruti Suzuki India India today reported 10.7 per cent decline in its total sales at 92,140 units in November as against 1,03,200 units in the same month last year.
- Five months after gruesome ATM attack, accused still at large
- Ex-syndicate member of Bangalore University held in marks-for-cash scam
- Accused get bail as police fail to file chargesheet
- ‘Naxals collected info on trucks carrying explosives from Khadki to Ahmednagar’
- A tale of two villages: Ramayan and Mahabharat
- UP CM tears into Modi bastion on first visit to Gujarat, says Third Front ready


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“Arrowman Executive Search’s team is very pleased to announce the arrival of Hervé Novelli, former Minister of Commerce, Crafts, Mid-caps, Tourism, Services and Consumer Affairs as well as President of API (Association of Independent Platforms) and Wine Tourism in France.
Hervé Novelli is joining Arrowman Executive Search as Vice President in order to strengthen our advisory dimension for entrepreneurs and help them in their strategic and human choices during this period of economic turbulence.
Hervé made the choice to invest in Arrowman Executive Search, firm of entrepreneurs and innovation.
The whole team of the firm joins me to congratulate and welcome him!“
Jean-Pierre Scandella, CEO
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Going Berkshire for semiconductors: Warren’s got chips on the value buffet and they taste a lot like Apple
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Poring through the treasure trove of recent third quarter US Securities and Exchange Commission (SEC) filings, we were delighted over the weekend to discover the Oracle of Omaha – Warren Buffett – had made his first ever stake in the lately troubled global semiconductor sector.
Buffett’s Berkshire Hathaway – despite his No 1 stock being Apple (APPL) – has never tinkered with the chipmaking sector.
Now we learn Warren snapped up well over US$4.1bn shares of the Taiwan Semiconductor Manufacturing Company (TSMC) over the last quarter, in one swing for the outfield emerging as the single biggest holder of the Taiwanese chipmaker’s American depositary receipts (ADR).
Turns out TSMC – the biggest chip producer in the world by revenue – is also the exclusive chip provider for Apple, which has been and remains (by a very long way) Berkshire’s most valuable stock holding across the entire Buffett-inspired portfolio.
Add to that this kind of global market share:
Buffett has built up an impressive US$120bn stake in Apple over the tech giant’s consecutive years of growth. It now represents some 40% of his entire portfolio, making Apple Berkshire’s “second-most important investment,” coming in behind Berkshire’s complex of insurance holdings.
The investment suddenly brings TSMC into the Top 10 Berkshire Hathaway stakes, with a bullet, and doubles-down on his clear confidence in the trajectory of Apple at the same time.
It’s been a real tough run for the Saudi Aramco of Semiconductors which was running the world long before the world knew that manufacturing semiconductors in Taiwan was pretty much central to everything with a chip – and we mean everything – from shoulders and blocks to cars and phones.
When we first really met TSMC it was copping a right lashing from the onset of COVID-19 thanks to the global supply bottlenecks and (interestingly) not enough water. Since then there’s been the ever-almost war with the ever-angry, well-armed mainland China, and now TSMC finds itself in the centre of a China-US chip trade war.
Until the last four weeks or so, Taiwan Semiconductor had lost around 65% over 2022.
In a busy month, TSMC has recovered about 31% of those losses.
Over its brief life, the Taiwanese company, (formed back in the ’90s) has now produced more than half of the world’s semiconductors for companies like Apple, Ford, Nvidia, and AMD, and has of late copped swirling headwinds like the global economic angst, dimmed demand, geopolitical tension and emerging competition.
It began the year with a share price knocking at the door of US$150, and found itself at the start of last month trying hard to stay above US$60.
Then last week, after Warren Buffett’s US$4.1bn disclosure, the chipmaker rallied hard and fast jumping 12%.
In the States, any institutional investor waving about some US$100 million or more in US securities has to report its holdings every quarter by filing a form 13F with the SEC.
The latest filings also show Chase Coleman’s Tiger Global snapped up its own US$1.3bn stake in the chipmaker.
According to the SEC, from July to September, Berkshire Hathaway had already acquired some 60 million shares of TSMC.
Dan Ives, senior equity analyst at Wedbush Securities told CNBC that by betting on TSMC, Buffett is essentially backing Apple.
“Taiwan Semi is the hearts and lungs of the Apple ecosystem,” said Ives. “They build the chips, the silicon that are key in the iPhones, the Macs and really the future of Apple. It’s about 25% of their revenue… when you are betting on TS, you are really betting on Apple.”
Even after the Buffett bounce, shares of Taiwan Semi are still down more than 30%, but IG Markets’ Aussie analyst says with Buffett on board, the stock – even the sector – may’ve turned a corner.
“With decades of impressive investment record, Warren Buffett is highly regarded as a legacy and strong believer in ‘value investing’. His time-tested investment strategy is looking for the best-valued stocks with solid fundamentals and long-term growth potential.
“Hence, the highlight of TSMC in his investment portfolio has profoundly improved the sentiment for Taiwan’s chipmaker, despite its share price just plummeting to a two-year-low.”
The White House is moving quickly to cut its former reliance on Taiwan for chip supplies and cut off China from American-made chips.
Apple – adding further upbeat to the TSMC afterburners – last week also announced its intention to similarly cut the reliance on Asian chips by sourcing from a factory in Arizona potentially from 2024.
This “Made-in-US” chip factory is currently under construction and confirmed to be run by Apple’s exclusive supplier and is already planning for a second US facility as part of its long-term strategy in the face of White House policy and the likely continuation of geopolitical tension.
TSMC has found itself being touted as a ‘deep value’ stock, selling at less than 12 times forward earnings after hitting an all time low in October.
Down in Melbourne, IG Markets’ market analyst Hebe Chen – who has written a cracking exploration of what else Warren might see in TSMC – says traders seem particularly aware that Taiwan Semi has that unique quality Buffett always seems to be won over by – the competitive edge (or the so-called wide moat).
TSMC is light years ahead in its field – and despite attempts elsewhere, remains one of the few companies which produces the kind of hardcore semiconductors which have become so essential to powering the most futuristic and ambitious tech, like the artificial intelligence plays and the tsunami of electric cars en route.
Hebe Chen says when it comes to tech, TSMC “continues to lead the market”.
“In the most advanced segment 54% of total (TSMC) revenue comes from 7-nanometer and below wafer (chips).
“Currently, TSMC and Samsung are the only companies capable of producing the highest-end 5-nanometer chips that go into iPhones, whilst TSMC is one step ahead to plan on 3nm chips that will start production from Q4, 2022,” IG’s Hebe Chen says.
And the chipmaker has a strong cash flow and the brick-sh*thouse shaped balance sheet – conservative, free from a lot of debt and prepped for a downturn – that Buffett and his offsider Charlie Munger are historically big fans of.
As of FY22, the TSMC stock was also paying out a 1.7% dividend.
And in new filings reviewed by Reuters and published on Monday our time, Berkshire has also raised its various stakes in each of Japan’s five biggest trading houses.
Berkshire said in 2020 that its investments in the Japanese trading houses are for the long-term and the stakes could even head toward 10%.
The latest moves are all more than 1% increases, (to over 6%), according to regulatory filings.
Reuters has Berkshire lifting its stakes:
to 6.59% from 5.04% in Mitsubishi Corp 8058.T
to 6.62% from 5.03% in Mitsui & Co Ltd 8031.T
to 6.21% from 5.02% in Itochu Corp 8001.T
to 6.75% from 5.06% in Marubeni Corp 8002.T and:
to 6.57% from 5.04% in Sumitomo Corp 8053.T
Read More: 7 Buffett buys to get you through a downturn
According to the SEC, Berkshire and Buffers added to the position in Paramount Global (PARA) to the tune of 16%, as well as buying well over $270 million of Uber (UBER) shares, but exited its holding in Xpeng [XPEV].
Berkshire Hathaway’s only other big exit was the real estate investment trust, Store Capital (STOR).
Buffett’s Biggest Holdings as of Q3:
Apple (AAPL): Strong iPhone 14 sales, subscription revenue growth
Ally Financial (ALLY): Automotive loan portfolio growing
Activision Blizzard (ATVI): Its buyout price is rising well past current share price
Chevron (CVX): Energy inflation continuing to rise globally
HP (HPQ): The PC market is moving in diff directions still surfing the hybrid/WFH environment
Coca-Cola (KO): Makes Vanilla Coke! And has inflation proof portfolio of products
Occidental Petroleum (OXY): Increasing share buybacks, dividends, cash flow.


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With Apple finally joining the fray, wireless charging technology is expected to get a rather significant boost in popularity and adoption in the months and years to come. That means it’s time for industry advocates and accessory makers to come out of hiding and try to market their products to the masses. That is exactly what LG and Integrated Device Technology, Inc. (IDT) are trying to do by claiming that the LG V30 is the fastest wireless charging smartphone in the market.
That claim is based on two or three things. The first is that Qi, one of the two competing wireless charging standards in the market, has what it is called an Extended Power Profile or EPP. The current version of the Qi standard sets the baseline power output for wireless chargers to 5 watts. That is what most commercial wireless chargers use today.
The second part of the equation is IDT’s wireless power chips, which utilizes that Qi EPP to support power output higher than 5 watts. Specifically, IDT’s chip allows for more than 8 watts of power, while still remaining within safe limits. This, on paper, would decrease wireless charging times by 30 percent, according to IDT.
Of course, none of these would be of any use if they weren’t implemented in a product that consumers can actually get their hands on. That’s where the LG V30 comes in. Integrating IDT’s wireless power chip, LG’s second 2017 flagship boasts of being the first device to implement Qi’s extended power profile.
Neither LG nor IDT have yet announced chargers compatible with the EPP that will deliver that 30 percent faster charging times. That said, the V30 remains compatible with the baseline Qi standard, so any Qi wireless charger will work with the smartphone as normal.


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Whitmer Supports Michigan’s Food and Agriculture Sector by Doubling Funding to Create Jobs and Grow Economy
August 17, 2022
FOR IMMEDIATE RELEASE
August 17, 2022
Gov. Whitmer Supports Michigan’s Food and Agriculture Sector by Doubling Funding to Create Jobs and Grow Economy
New round of state grant funds are expected to help quadruple the number of jobs created from last year and result in $154 million total investment for fiscal year 2022
LANSING, Mich. — Today, Governor Gretchen Whitmer and Michigan Department of Agriculture and Rural Development (MDARD) Director Gary McDowell announced the latest round of state grant match grants will double the amount of funding available to Michigan’s farming and agriculture sector. The Food and Agriculture Investment Program (FAIP) has seen substantial growth year over year over the last two years. The grants are expected to create an estimated 295 jobs, more than four times as many as last year, and bring in $154 million to Michigan's growing economy, 45% more than last fiscal year.
“As Michigan’s economic momentum continues to build, my goal is to ensure every region of our state has an opportunity to succeed, and these grants from the Food and Agriculture Investment Program will help us do just that, bringing in $48 million to create at least 225 new jobs across Michigan,” said Governor Whitmer. “Recently, I signed my fourth balanced, bipartisan state budget, which sets aside dedicated resources for food and agriculture economic development. These grants and our state budget will help us continue growing Michigan’s economy, creating good-paying jobs, and bringing investment to every region of our great state.”
The FAIP provides financial support for food and agriculture projects that help expand food and agriculture processing to enable growth in the industry and Michigan's economy.
"The Food and Agriculture Investment Program allows our food and agriculture industry to grow while helping move Michigan forward," said MDARD Director Gary McDowell. "I'm thrilled we are increasing our financial support for food and ag businesses across our state while increasing access to good-paying jobs for Michiganders. This further demonstrates why Michigan is and will continue to be an agriculture powerhouse."
About the Food and Agriculture Investment Program
The Food and Agriculture Investment Program provides financial support to expand the Michigan food and agriculture sector, grow Michigan exports, and increase food processing activities within the state.
Projects are selected based on their investment in the overall agriculture industry and their impact on Michigan’s food and agriculture growth.
The Food and Agriculture Investment Program is available to:
• Small, medium, and large food, agriculture, and forest product companies.
• Others investing in or expanding food, agriculture, or forest products operations in Michigan.
The Food and Agriculture Investment Program is a performance-based grant. Companies or organizations put forward their investment plan, demonstrate financing and due diligence on the project, carry out the project, and submit a reimbursement amount per the grant agreement when the investment project is completed. Read more about the Food and Agriculture Investment Program here: MDARD - Food and Agriculture Investment Fund Grants (michigan.gov)
Fostering economic growth in rural communities
Governor Whitmer has been laser-focused on the kitchen-table fundamental issues that matter most
to rural families, communities, and small businesses.
- Created and fully funded the Office of Rural Development to address the unique challenges that face rural communities.
- Signed bills to boost the food and agriculture industry by ensuring Michigan food and agriculture businesses can export their products to other nations.
- Secured more than $50 million for food and agriculture economic development projects.
- Signed budgets that invested in local economic development projects centered around the food and agriculture industries, and community revitalization and placemaking grants to support economic development in rural communities.
- Launched the development of a ‘Buy Michigan’ marketing campaign to highlight Michigan growers and agricultural products.
- Invested over $53 million in Michigan State University’s dairy center and greenhouses.
- Opened the hemp market to Michigan’s producers, bringing a new commodity to Michigan's diverse agricultural market.
- Requested federal relief and signed a bill authorizing $15 million in loans for farmers reeling from crop loss and damage during one of the rainiest years in state history.
- Invested $15 million into the Michigan Agricultural Safety Grant Program and Small Farm Safety Grant Programs to support farmers and food processors during COVID-19


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New York is 48th State to Approve Cambridge Mobile Telematics’ Insurance Scoring Model
Insurers relying on this model can offer policyholders the best possible pricing based on actual driving behavior
Cambridge Mobile Telematics (CMT), the global leader in smartphone telematics, announced its behavior-based premium insurance scoring model has just been approved in New York for personal lines. By adding the Empire State, CMT now has scoring models approved in 48 of 50 U.S. States plus Washington D.C.
CMT’s solution assesses crash risk based on an individual’s behavior behind the wheel. The telematics-based offering uses highly predictive factors like speeding, hard braking, and phone distraction (both tapping and phone motion) for an unbiased and accurate picture of crash risk. This enables insurers to offer auto insurance to a consumer based on their driving behavior.
Until now this solution was not available to New York’s drivers.
CMT’s pricing models and regulatory approvals extend into multiple lines of business. The company’s commercial auto Premium Score is approved for use in 45 states, most recently in Virginia.
“With the addition of New York – the fourth most populous state in the country – CMT’s market-leading technology and Premium Score is now available in 48 states,” says Ryan McMahon, VP of Insurance & Government Affairs at CMT. “Insurers now have the opportunity to offer consumers rates based on how they drive, the most fair and transparent way to price auto insurance. With this approval insurers will be able to leverage CMT’s products to provide significant incentives for safety, making the roads safer for all in the Empire State.”
CMT’s data scientists and actuaries derive telematics data from millions of drivers covering billions of miles. The company continues to see a direct correlation between telematics adoption and improvements both in driving behavior and improvements in road safety.
At Cambridge Mobile Telematics, we show up every day to achieve one goal: to make the world’s roads and drivers safer. Founded in 2010 based on MIT research, we are now the world’s largest mobile telematics provider, powering 65 enterprise programs in more than 28 countries. Our technology serves several million drivers a day through our partnerships with leading insurers, rideshares, cellular carriers and car makers. We deliver cutting-edge technology to solve the most important problems facing mobility today and to improve road safety across the world. To learn more, visit www.cmtelematics.com.
Originally published on, The Business Wire.


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Sonos is going public on the Nasdaq on August 2, 2018.
Speaker maker Sonos stocks rose up to 23% in expanded trading on Wednesday after the company reported fourth quarter results and fiscal year revenue projections that exceeded expectations.
This is how the company did it:
- Merits: 33 cents excluding specific items, versus 0 cents as analysts expected, according to Refinitiv.
- Revenue: According to Refinitiv, $ 339.8 million versus $ 298.8 million as analysts expected.
In the fourth fiscal quarter, which ended October 3, Sonos’ revenue rose 16%, according to a statement, even though the quarter lasted 14 weeks. Excluding week 14, sales increased 7%. Revenue declined 4% in the previous quarter as the company ran out of inventory to meet demand.
For more than half of fiscal 2020, people worked and attended school from home to try to reduce the spread of the coronavirus. That meant people had more time at home to listen to music. However, in the quarter, Sonos had a negative impact on product availability.
In the 2020 financial year, Sonos increased the number of households by 20% year-on-year to 10.9 million compared to 22% in the previous year. Patrick Spence, CEO of Sonos, said in a statement: “Existing customers are adding more products to their system – every new household we win starts this cycle again.”
Sonos has also launched several new products to keep its portfolio up to date, including a high-end soundbar that works with televisions and a replacement for the most powerful speaker.
The company continues to face inventory restrictions, Spence told analysts in a conference call on Wednesday.
“We are investing in things like air freight and doing everything we can to get as much supplies as possible into the first quarter,” he said.
For the upcoming 2021 fiscal year, Sonos predicts revenue of $ 1.44 to $ 1.5 billion, up 11 to 15 percent, ahead of the consensus of $ 1.38 billion among analysts surveyed by Refinitiv.
Excluding the post-business move, Sonos stocks are up 9% over the year, compared to 14% in the S&P 500 index.
– CNBC’s Todd Haselton contributed to this report.
CLOCK: Option bulls bet on Nikola, Sonos & Virgin Galactic


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The cryptocurrency platform, Poly Network had lost $610 million to the hack. The organization has now offered a hacker or hacker $500,000. The platform made a statement where it thanked the hacker for exposing the cyber vulnerabilities and for returning a huge chunk of the stolen money back to the Poly Network’s security.
The company has offered a $500,000 reward for the hacker as the negotiation deal for the return of the digital coins. They said the hacker had replied to the offer but hasn’t confirmed its acceptance.


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FISHERS, Ind. (AP) - A Target store in suburban Indianapolis has reopened after a smoky fire forced the evacuation of shoppers and employees
The Fishers Fire Department says the store reopened about 1 p.m. Tuesday, four hours after the fire began in a rear storage room and sent smoke throughout the store along Interstate 69 a few miles northeast of Indiana.
Firefighters say a sprinkler doused the flames. Employees had the store evacuated before firefighters arrived.
The fire department said in a news release that one firefighter suffered a minor injury during cleanup and smoke removal. No one else was hurt.
Deputy Fire Marshal Ron Lipps says investigators believe workers using a torch to repair a cardboard baler started the fire.


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What will Facebook’s new name be?
The social giant, amid one of the worst PR crises in its 17-year history, is expected to announce a new name before the end of the month, according to a report by tech-news site The Verge, citing an anonymous source.
Facebook’s new name is supposed to reflect CEO Mark Zuckerberg’s positioning of the company as moving beyond social media — into a developer of virtual “metaverse” experiences, per The Verge.
Zuckerberg plans to talk about the new name at the Facebook Connect conference on Oct. 28, but the new corporate name could be announced before then, according to The Verge report.
On the company’s Q2 earnings call in July, Zuckerberg sketched out his vision for the “metaverse” — an open, virtual environment where you can share experiences with other people — that will be the successor to today’s mobile internet. He said it will be the “ultimate expression” of social technology and predicted that Facebook will be seen in the future as a “metaverse” company, not a social-media company.
Such a corporate rebranding has happened before the tech space. Most notably, in 2015, Google adopted Alphabet as the name of the parent holding company.
Similarly, Facebook’s new corporate name would encompass its individual apps and business units, including Facebook, Instagram, WhatsApp and Oculus.
Facebook declined to comment on The Verge report.
Source: Read Full Article


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Sony’s new Brazilian production line will provide physical PS5 discs for Latin American players
Sony has established a brand new production line for PlayStation 5 discs in Brazil, which should help make it easier for players in Latin America to obtain physical media for the console.
Reported by VGC, the new production line has been set up at Sony’s Manaus facilities. Built in tandem with electronics firm Solutions 2 Go, the factory has manufactured physical PlayStation media for previous generation consoles. But now marks the first time – more than three years into its lifecycle – that it’s producing physical media for PS5.
The production line will produce physical games that are up to 100GB in size, so that’ll encompass most of the best PS5 games including Gran Turismo 7, Demon’s Souls, and Final Fantasy 16. Overall, this should allow Latin American players who prefer or desire physical media to be able to more easily obtain them without potentially paying a premium on imports.
More games for more folks
PlayStation Latin America’s senior director, Miguel Cunha, made a statement on the creation of this new production line, saying: “We are excited to share the news that, from now on, PlayStation 5 physical discs of our exclusive and third-party games will be produced in Brazil.
“To ensure maximum efficiency in the production process, a team of experts from Sony Interactive Japan spent weeks in Brazil working on installation, programming, and training local staff. The initiative reinforces the commitment to Brazil and the Brazilian community.”
While subscription services like PS Plus and the PS5 Slim’s optional disc drive signify a shift towards digital content prioritization, it is reassuring to see that Sony at least somewhat remains keen on producing physical media. Especially in this case, as it’s an area in which physical PS5 discs may not have been as easy to come by as in the US, UK, or Australia.


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May 13, 2020
For the full year 2020 overall net sales were ¥457.2 billion ($4.27 billion/ €3.93 billion), slightly lower than the expected projected sales set on 7 February but still a year-on-year increase from the previous year where net sales were ¥441.5 billion ($4.13 billion/ €3.79 billion).
Oki’s printer section declined from ¥102.6 billion in the previous year to ¥92.3 billion in fiscal year 2020. Oki explained that the decline was in the demand in office equipment in Europe and the appreciation of the yen against the Euro.
In its announcement Oki included that “in the area of printers, there is concern that restrictions on outings and the promotion of work from home in Europe and the Americas will lead to a decrease in demand for printing at offices, which will have a significant impact on sales of consumables.” The COVID-19 pandemic has impacted Oki “in terms of overall production, some parts of the supply chain are affected” and since the impact of certain factors are not clear yet, the company decided “to set its forecasts of business results for the fiscal year ending 31 March 2021 as “undecided”.”
Oki said it will continue to monitor the situation.
Categories : City News


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The Sorrento Sailing Couta Boat Club has joined forces with Australia’s leading official watch specialty store Watches of Switzerland and Swiss watch brand Panerai to stage a new sailing event.
The inaugural Watches of Switzerland Perpetual Sailing Challenge, held on February 12, saw more than 40 teams hit the water at the Sorrento Sailing Couta Boat Club.
Watches of Switzerland , one of Australia’s leading official luxury Swiss watch retailers with more than 20 brands and more than 4000 references of Swiss watches, has described the event as a “rousing success”.
The event brought together a sailing club steeped in a long and proud history of traditional and high performance sailing, with a specialty watch store and a Swiss watch brand that both represent timeless quality.
The Sorrento Sailing Couta Boat Club’s sailing classes have changed over many years according to world trends and modern designs but many traditions remain and family participation is of utmost importance.
Couta boats use traditional sailing methods and techniques and do not rely on technological aides such as navigation systems.
The Sorrento Sailing Couta Boat Club was decked out in classic Italian fashion for the day of sailing and revelry, while guests of Panerai and Watches of Switzerland had the chance to see and handle some exquisite Panerai timepieces on display, before being treated to an Italian inspired lunch.
The afternoon’s festivities were hosted by television personality and long-time ‘Paneristi’ Hamish McLachlan, who introduced guests to Watches of Switzerland Chairman Eric van der Griend, Panerai’s Alban Fauchille and Club Commodore Andrew Plimpton.
Guests were invited to board spectator vessels for the afternoon to watch the action unfold as sailors competed for the prize of a Panerai PAM000 timepiece. The second division winner was awarded a Panerai Barometer, a rarely seen piece of machinery out of the brand’s Swiss factory.
Organisers say the event was blessed with “perfect weather and just enough wind to make the sailing exciting.
“We can certainly look forward to the next Watches of Switzerland Perpetual Sailing Challenge next year. There are big shoes to fill, that’s for sure,” they said.


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Not short of tourism celebrities, the JATA Tourism EXPO Japan officially opened today with 140 countries and 47 regions in Japan represented.
Well-known tourism representatives were lined up to welcome delegates, including Japan’s Minister of Land, Infrastructure, Transport and Tourism, Akihiro Ohta, and the Commissioner of the Japan Tourism Agency, Norifumi Idee.
Mr. Ohta officially welcomed everyone, explaining that Japan wants to become an advanced tourism country, to push not only international inbound travel, but to also focus on more domestic travel as well.
Also spotted were tourism celebrities Dr. Taleb Rifai, Secretary-General, UN World Tourism Organization (UNWTO), and Mr. David Scowsill, President and CEO, World Travel and Tourism Council (WTTC).
Although a global and international event, most material was exclusively in Japanese, which made it more than a bit challenging for those that did not read or speak the language. Perhaps the organizers can provide translations and/or interpreters for the remaining portion of this 3-day event.


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In November 2013, the University of Nicosia announced that it would be accepting bitcoin as payment for tuition fees, with the university's chief financial officer calling it the "gold of tomorrow". During November 2013, the China-based bitcoin exchange BTC China overtook the Japan-based Mt. Gox and the Europe-based Bitstamp to become the largest bitcoin trading exchange by trade volume.
Because of bitcoin's decentralized nature and its trading on online exchanges located in many countries, regulation of bitcoin has been difficult. However, the use of bitcoin can be criminalized, and shutting down exchanges and the peer-to-peer economy in a given country would constitute a de facto ban. The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. Regulations and bans that apply to bitcoin probably extend to similar cryptocurrency systems.
Satoshi's anonymity often raises unjustified concerns because of a misunderstanding of Bitcoin's open-source nature. Everyone has access to all of the source code all of the time and any developer can review or modify the software code. As such, the identity of Bitcoin's inventor is probably as relevant today as the identity of the person who invented paper.
The unit of account of the bitcoin system is a bitcoin. Ticker symbols used to represent bitcoin are BTC[b] and XBT.[c] Its Unicode character is ₿.:2 Small amounts of bitcoin used as alternative units are millibitcoin (mBTC), and satoshi (sat). Named in homage to bitcoin's creator, a satoshi is the smallest amount within bitcoin representing 0.00000001 bitcoins, one hundred millionth of a bitcoin. A millibitcoin equals 0.001 bitcoins, one thousandth of a bitcoin or 100,000 satoshis.
There are many Bitcoin supporters who believe that digital currency is the future. Those who endorse it are of the view that it facilitates a much faster, no-fee payment system for transactions across the globe. Although it is not itself any backed by any government or central bank, bitcoin can be exchanged for traditional currencies; in fact, its exchange rate against the dollar attracts potential investors and traders interested in currency plays. Indeed, one of the primary reasons for the growth of digital currencies like Bitcoin is that they can act as an alternative to national fiat money and traditional commodities like gold.
Bitcoin has become more widely traded as of 2017, and both short term traders and long-term investors are looking to participate in this exciting market. The price of bitcoin fluctuates on a daily basis, and can see some significant price volatility. Prices can be affected by numerous influences. Some of the possible drivers of price include: further acceptance, more exchanges opening, regulations, weakening paper currency values, inflation and more.
A fork referring to a blockchain is defined variously as a blockchain split into two paths forward, or as a change of protocol rules. Accidental forks on the bitcoin network regularly occur as part of the mining process. They happen when two miners find a block at a similar point in time. As a result, the network briefly forks. This fork is subsequently resolved by the software which automatically chooses the longest chain, thereby orphaning the extra blocks added to the shorter chain (that were dropped by the longer chain).
The concept of a virtual currency is still novel and, compared to traditional investments, Bitcoin doesn't have much of a longterm track record or history of credibility to back it. With their increasing use, bitcoins are becoming less experimental every day, of course; still, after eight years, they (like all digital currencies) remain in a development phase, still evolving. "It is pretty much the highest-risk, highest-return investment that you can possibly make,” says Barry Silbert, CEO of Digital Currency Group, which builds and invests in Bitcoin and blockchain companies.
Legal Gray Area. Major governments have largely remained on the sidelines, and this has created both a sense of potential and apprehension for Bitcoin proponents and critics respectively. Bitcoin isn’t backed by a regulatory agency and a government would technically be ceding power by supporting a decentralized currency. This has been largely officially unaddressed. Bitcoin’s price, however, tends to be very sensitive to any news concerning the US government’s opinion of cryptocurrencies. For example, when the SEC denied the approval of bitcoin-based exchange-traded-products—essentially bitcoin-backed assets on the stock market—in 2017, Bitcoin’s price dropped 18%. Yet while the price and adoption of Bitcoin would be affected by government action, governments are unable to criminalize Bitcoin. In fact, governments such as the United States and China have invested in it at some capacity.


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Vodacom cancels plan to charge for rolling over data
Social media users were outraged after discovering the operator planned to charge R49 in some cases
Just two days after the mobile operator came under fire on social media, Vodacom has back-pedalled on its plan to charge customers to roll over expiring data. On Monday, it emerged that Vodacom had planned to charge customers up to R49 to roll over data bundles when they expired. This was part of the operator’s preparation for SA’s new data expiry rules, which come into effect on Friday. From that day, mobile operators must let customers roll over unused data, according to regulations set by the Independent Communications Authority of SA (Icasa). The rules are aimed at reducing the cost to communicate.
A Vodacom spokesperson told Business Day on Wednesday that the operator was no longer considering fees for data roll-overs. This brings it in line with rival operators MTN and Telkom, which had never planned to charge customers to extend the life of unused data bundles, according to their spokespeople. A Cell C spokesperson said on Monday that the operator did charge customers t...
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text: The NISIS Pocket DV4 is another entry into the burgoening class of flash-memory camcorders. While not as slick as the Panasonic or the Sanyo, the NISIS measures 4.2″ x 2.7″ x 1.6″, so it’s just about as small. It’s not as good at taking pictures though, since it’s just a 2 megapixel camera (or up to 4 mp “with firmware interpolation”). The motion video is better res than most, but captures at just 10 frames per second at full 640×480 resolution, or up to 20 fps at a lower res. Upsides include the ability to use it as an MP3 player and webcam, but the major downside appears to be the limit on the size of the SD card it accepts — just 256 megs, which means an absolute limit of about 20 minutes of high-quality video. And it only has 16 megs internal RAM. The price is reported to be around $200, and they snapped ’em up at Comdex last week according to TechTV.


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GANNI Taps NewStore to Power the Omnichannel Retail Experiences Across its Stores
The Danish contemporary brand has rolled out the full NewStore Omnichannel Platform, providing a transformational in-store experience for associates and customers
NewStore, a modular, mobile-first omnichannel cloud platform for retail brands worldwide, announced GANNI is using the NewStore Omnichannel Platform to power the shopping experience across its stores. By leveraging mobile point-of-sale (mPOS), order management, store fulfillment, and clienteling, the brand’s stores can now cater to its community of customers, offering global omnichannel capabilities at the hands of iPhone-enabled store associates.
GANNI, the beloved Danish fashion brand founded in 2009, is rooted in its Scandi 2.0 sense of style. It sells apparel and accessories in more than 600 luxury retail stores, including 24 of its own concept stores located across the United States and Europe. Through the NewStore platform, GANNI can more easily handle sales and returns as well as manage inventory more responsibly through two fast, easy-to-use iPhone apps. Associates can also collect valuable customer information from the palm of their hands, which has resulted in a 900% increase in its average customer data capture rate at the POS.
“With NewStore, GANNI now offers a truly global, modern shopping experience,” said Anders Lindberg Madsen, Product Owner, Unified Commerce Platform, GANNI. “The platform is not only the lightest tech stack I’ve ever seen for retail, but also the most powerful. If we want to spin up a new store, we can do it with just a box of iPhones. It’s practically unheard of.”
With its enterprise order management system, NewStore gives GANNI employees access to customer, order, and store inventory information all in a single view. The data is unified into one source and accessible via mobile, making global omnichannel operations like store fulfillment possible. On the front-end, mPOS enables associates to process in-store and endless aisle transactions anywhere on the store floor. They can also see clienteling data, including a customer’s past purchase history across channels and countries, enabling them to offer a better overall shopping experience. Associates are also able to fulfill endless aisle and buy-online-pickup-in-store (BOPIS) orders using only an iPhone. All of these capabilities are powered by NewStore’s pre-built integration with Salesforce Commerce Cloud.
“NewStore now has customers operating in more than 55 countries. Brands such as GANNI leverage NewStore to ensure seamless omnichannel wherever they operate globally,” said Stephan Schambach, Founder and CEO, NewStore. “By replacing its existing tech stack with our platform, GANNI’s store associates have real-time customer, order, and inventory data at their fingertips, enabling them to create amazing shopping experiences everywhere.


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Russia is moving a step closer to introducing a Ruble-backed digital currency. A senior executive at Russia’s central bank, the Bank of Russia, has indicated that the bank is planning to unveil a prototype for its digital ruble by the end of 2021.
Speaking during an online event hosted by Moscow-based Economic School, Bank of Russia deputy governor Alexey Zabotkin noted that the prototype would not support any real transactions but would instead lay the ground for the entire ecosystem. According to a report by local news publication Prime on Wednesday, Zabotkin explained: “Based on this prototype, including refinement, we will start rolling out trial rounds next year.”
As previously reported by ZyCrypto, Russia first announced plans of entering the currency race with a digital ruble back in October 2020. At the time, the Bank of Russia released a consultation paper detailing the possible concept of the digital ruble.
The paper cited the central bank’s control and creating opportunities for Russia as some of the advantages of the digital ruble, a CBDC pegged to the Russian ruble. The bank also suggested that the digital ruble would make payments “faster, more simple, and secure” and users would be able to access the digital ruble both offline and online on their e-wallets and mobile devices. The bank then asked for public feedback from the would-be users of the new digital payment system.
Earlier this year, the Association of Russian Banks (ARB) voiced concerns that the design of the ruble-backed CBDC proposed by the Bank of Russia is not immune to fraud and cybersecurity risks. Late last month, deputy chairwoman Olga Skorobogatova addressed these concerns and stated that the central bank would update the digital ruble concept and prepare a friendlier model.
In the meantime, Russia has recently made some steps towards easing its harsh crypto laws, including recognizing crypto as property — but bitcoin investors could still face hefty fines and prison time for refusal to follow the set rules.


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Issue Date: November 5, 2012
Rosy Outlook For Efficient Autos
Federal actions to promote fuel-efficient vehicles are paying off. Auto analyst Alan A. Baum stressed last week in a briefing and in a report that fuel-efficient and electric vehicles are here to stay. Driven in large part by new federal fuel-efficiency standards, the average vehicle fuel efficiency for model year 2012 reached 23.6 mpg, more than 1 mpg above 2011, Baum says, adding that this is the largest one-year mileage jump in five years. In previous years, Baum says, when fuel efficiency increased, sales dropped, but for model year 2012, sales are on track to increase by 10% above 2011 levels to some 14 million units. Baum adds that electric-gas hybrids, coupled with plug-in electric vehicles, are on track to top a half-million in sales in 2012. Efficiency-conscious consumers, he notes, also have more choices—the number of high-efficiency model vehicles has grown from 28 in 2009 to 61 for the 2013 model year.
- Chemical & Engineering News
- ISSN 0009-2347
- Copyright © American Chemical Society


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U.S. Execs Say CSR Initiatives Can Boost Profits
Â Three-quarters of senior U.S. executives say corporate citizenship can boost profits over time, according the Economist Intelligence Unit’s report, â€śCorporate citizenship: profiting from a sustainable businessâ€ť (PDF). Sixteen percent said the top motivation for such initiatives was revenue growth, another 16 percent said they aim to increase profits, and 13 percent said the main goal is to reduce costs.
The survey of more than 560 people found that despite a majority of respondents saying their business depends on effective corporate citizenship, only about one-quarter believe it is â€śvery importantâ€ť to overall business strategy, and only 28 percent of respondents characterized their CSR strategy as proactive.
However, the research showed that support for CSR initiatives extends to board level with 92 percent of respondents saying a board member or C-level executives is in charge of the company’s CSR strategy, and 34 percent of respondents said the board is setting the strategy.
The report also found that investment in CSR initiatives are significant, with 19 percent of respondents saying their company invests more than $1 million annually and almost half of the respondents say they expect their companies investment in CSR initiatives to increase over the next five years.
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Nissan's had a few electric concept cars over the last few years but none as advanced as the Pivo 3, which will be unveiled at the upcoming Tokyo Motor Show.
The Pivo 3 is pioneering not for its zero-emissions electric powertrain but the technology that means it can park on its own, charge itself and then be summoned by its driver via a smartphone to pick them up once they've finished what they're doing.
It may seem far-fetched but Nissan believes its Automated Valet Parking system will revolutionise parking. The Pivo 3 parks automatically in specially equipped car parks then charges itself or sells excess power to the regional grid.
Its compact size (under three metres in length) means it can make a U-turn in a road just four metres wide and, despite its size, it can seat three people in a 1 + 2 layout.
Inside is a wide centre console for displaying GPS and other information, while side-view monitors take the place of mirrors.
Nissan chiefs will now decide whether the car is suitable for production, though it's likely to be 2016 or 2017 at the earliest before we see it on the roads.
Plan to revive Brit marque
A motoring enthusiast is trying to revive British sports car company Atalanta Motors 75 years on from the last model.
Martyn Corfield aims to bring back "one of the most innovative and stylish pre-war British car manufacturers" with a concept set to be revealed in spring next year.
With more than just a gentle nod to Atalanta's heritage, he plans to emulate the style and spirit of one of the most technically advanced sports car designs of its era, while acknowledging 72 years of automotive evolution.
A traditionally coach-built pre-production prototype is being developed that remains true to original Atalanta design principles of "Innovation, Style and Performance". It will be unveiled in 2012 - 75 years after the first Atalanta car was announced, the Autocar on March 5, 1937.
"Atalanta is one of the greatest untold British motoring heritage stories. The cars and the team that delivered the original concept were so ahead of their time. What might have been had the war not interrupted development?" says Corfield.
Only two models were ever made by Atalanta and this could be a third.
Woman, 86, drives into pool
An 86-year-old woman went out to do some grocery shopping but ended up driving her car into a swimming pool.
Mary Lee Fine was anything but fine after driving her Dodge Neon through a fence and into the pool in Austin, Texas.
Security cameras caught the moment when the incident happened and Fine can be seen struggling to get out before a passer-by spots her. The man calmly takes his shoes and valuables off before wading in to help.
It turns out Fine is extremely lucky as a steel chair she knocked into the pool during the incident wedged itself underneath the back of the car in the pool, holding it up and buying enough time for her to escape.
"When the water came up I thought, oh hell, I'm going to drown,'" Fine told KXAN.
"I couldn't get out, nothing would work. I'm trying to figure out if I could dog paddle or something."
Fine says the incident happened after a car parked too close to her, forcing her to enter via the passenger door. She says she must have hit the gear stick as the car unexpectedly sped forward when she started it.
Although not injured, Fine says she'll take a taxi next time.
Volkswagen Group posts 14 per cent growth worldwide in 2011
Volkswagen Group has announced a growth in vehicle deliveries of 13.8 per cent to 6.8 million units for the year to October.
The German giant said its brands were performing well in North America as well as in its European heartlands.
The group includes brands such as Audi, Bentley, Lamborghini, Skoda and Seat, as well as Volkswagen itself.
"Developments so far have been very encouraging," says the Volkswagen Group board member for sales, Christian Klingler. "We made a good start to the fourth quarter, too. However, given the present economic uncertainty and its impact on the automotive industry, we cannot take the fourth quarter for granted.
"We will continue to keep a close eye on the situation over the coming months as developments on global markets remain volatile."
Deliveries rose 21.5 per cent to 543,000 units from January to October in North America and 10.7 per cent to 3.07m units in Europe.
Seat to have plug-in hybrid and all-electric cars on roads by 2016
Seat is planning to have its first electric plug-in hybrid in car showrooms by 2015 followed by an all-electric vehicle a year later.
The company is working on designing, developing and manufacturing the cars in its native Spain and has unveiled a prototype Altea XL Electric Ecomotive, a totally electrically driven zero-emissions car, as well as the prototype Leon TwinDrive Ecomotive, a plug-in hybrid.
The company will make available units of both models to government institutions in Catalonia and Madrid over the next few months so it can assess their roadworthiness.
"Customers demand a more sustainable form of mobility, but their needs are diverse," says Seat president James Muir. "So we believe that a parallel strategy of developing two different technologies will put Seat in the best position to meet their needs."
Seat will also launch four new models over the next 12 months, the first being the urban car Mii.


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Reserve Bank of India Governor Shaktikanta Das, on Tuesday, flagged concentration risks and potential spillovers arising from the enormous amount of consumer data being generated and leveraged by a few entities (the so-called BigTechs) by virtue of their huge customer base.
Das noted that a wave of changes brought in by fintechs have had a positive impact in terms of enhancing inclusion and further penetration of financial services. At the same time, these developments have also ushered in an era where enormous amount of consumer data is being generated and leveraged by a few entities (the so called BigTechs) by virtue of their huge customer base.
“Such developments raise concerns on concentration risk and potential spillovers as their level of engagement with the financial system strengthens in the years to come.
“Therefore, potential risks to public policy objectives of maintaining competition, market and business conduct, operational resilience, data privacy, cyber security and financial stability need closer attention,” said the Governor in his address at the Global Fintech Festival.
Digital lending apps
Flagging certain material concerns regarding the unbridled mushrooming of digital lending apps, Das emphasised that the need of the hour is to ensure safety after following a process of green-lighting (whitelisting) and due-diligence by the regulated entities. The RBI, in association with other relevant agencies, is taking steps to address this issue and take further steps as may be necessary, he added.
“As we have seen, the way digital lending has taken off in the recent past was phenomenal. While it has served the needs of various segments, it has also raised several concerns, which manifested itself through spate of complaints regarding usurious interest rates, unethical recovery practices and data privacy issues.
“The Reserve Bank has endeavoured to address these issues proactively and, as early as in June, regulatory guidance was provided to our Regulated Entities,” said Das. The Governor noted that while innovations are very much welcome, they must be responsible and enhance the efficiency and resiliency of the financial system while benefitting the consumers.
He observed robust internal product and service assurance frameworks, together with fair and transparent governance, will go a long way to safeguard the interest of customers and ensure long-term sustainability of fintech entities themselves.
Das underscored that the level of due-diligence and oversight exercised by the regulated entities on their outsourced activities needs to be strengthened further. This would help in proactive mitigation of risks at the incipient stage itself. The Governor said as the RBI continues to support technological advancement and innovation, it is equally important that adequate attention is also placed on governance and conduct issues.
At the end of the day, sustainability of any FinTech activity or business is about enhanced customer protection, better cyber security and resilience, managing financial integrity and strong data protection, he added.
“I wish to assure the fintech community that the RBI will continue to encourage and support innovation. At the same time, we would expect the ecosystem to pay attention to governance, business conduct, regulatory compliance and risk mitigation frameworks.
“The fintech road ahead will witness ever growing traffic in addition to the large number of existing players who are already there. It is, therefore, imperative that every player on this road follows the traffic rules for his/her own safety and the safety of others,” said Das.
The Governor noted that the RBI’s focus has always been on encouraging innovation by providing an enabling environment. Simultaneously, as the guardian of financial stability, the RBI also remains watchful of any undue risk build up and responds to them.


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‘This is the reason there’s a shortage’: Mother calls out shopper hoarding baby formula in viral TikTok video
- As the shortage of baby formula continues to sweep through the U.S., some shoppers have begun engaging in heated arguments to secure their supply.
- In a viral TikTok video, a young mother can be heard confronting another shopper who had taken all the baby formula on display at a local Target store in Massachusetts.
- “I have a child at home to feed and you just cleared the whole [shelf],” Autumn Guyer says while filming the other woman.
- “You just cleared the whole shelf of all of this formula,” she can be heard saying. “You have a whole cart. Look at this, look at all this. Look at the shelves.”
A baby formula shortage in the U.S. has now sparked a wave of panic buying, with some shoppers engaging in heated arguments to secure their supply.
In a viral TikTok video, a young mother can be heard confronting another shopper who had taken all the baby formula on display at a local Target store in Massachusetts.
A couple of Asian shoppers were kicked out of a Big W store in Australia after allegedly getting involved in a scuffle for exceeding the two-tin baby formula limit per purchase.
Part of the incident was caught on video and posted on Facebook by user Nikki Schoerie on April 11. It occurred at a Big W branch in Lilydale, northeast Melbourne.
Song Chen, a 40-year-old Chinese woman living in Newcastle, New South Wales, Australia, makes about 21,000 yuan ($3,173) per shipment of expensive baby formula to China.
Chen first moved to Newcastle around three years ago, and soon jumped on the craze in which professional shoppers, known as “Daigous,” buy expensive baby formula in Australia and send it out to China, where there is a massive demand for the product, according to Daily Mail.
Shoppers who have been buying baby formula cans in bulk at supermarkets in Australia with the intention of selling them online to China for a profit were recently captured on video, generating some backlash online.
A shopper named Hannah Dixon filmed the moment in a Coles store in Melbourne on Wednesday around noon when about 20 shoppers were lining up to pick up some baby formula.


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Sales students in Parker College of Business compete virtually in global competition
When Samuel Pearson signed up to compete in the RNMKRS Virtual Sales Competition, where he would interact with an artificially intelligent (AI) animated customer bot to sell a product, he expected it to be similar to a video game.
“The whole idea of selling to an AI seemed simple enough,” said Pearson, the top-performing Parker College of Business student in the competition. “At first, I thought the AI would react like a video game character and as soon as I learned how to beat it, I could win every time. That wasn’t the case.”
Pearson was one of 70 Georgia Southern University students and one of more than 1,300 students from 48 colleges and universities around the world to compete in the RNMKRS virtual competition where students used their mobile phones to interact with AI animated customer bots to compete for visibility with employers like Dell Technologies and HubSpot.
During the virtual sales competition, students used the voice technology on their phones to have conversations with the customer bot as they tried to win its trust and educate the AI on their product line of laptop computers. The customer bot then listened, adapted and responded as the students went through the sales call.
Despite his experience as a sales student in the Parker College of Business and his first-hand experience working in sales, the contest challenged Pearson in a new way.
“This competition works to show you exactly what is needed to land a sale,” he said. “RNMKRS allows you to learn all the aspects that go into making a sales call without the fear of diving straight into a face-to-face (sales) situation without any experience.”
Pearson prepared for this virtual sales competition much the same way he would prepare for an in-person sales competition. He took notes on the specification of the laptops he was selling to include the AI’s given identity and took into consideration the tips the RNMKRS representatives provided.
“The key difference working with the AI is that you can’t simply convince the AI that you’re correct,” he said. “You must be 100% correct with your wording or else the sale won’t progress, or it won’t understand you. You also didn’t need to impress the robot like you would a person.”
Linda G. Mullen, Ph.D., co-executive director of the Center for Sales Excellence at Georgia Southern, said the contest came at an opportune time for students after Georgia Southern moved to online instruction in March due to COVID-19.
“This competition’s first run was in Fall 2019, but I jumped at the chance for our students to participate when I saw we were moving to virtual instruction,” said Mullen. “This was our first time competing, and we will be doing this again in Fall 2020 for sure.”
The first virtual, mobile selling skills competition was developed by the RNMKRS Faculty Alliance of Leading Educators, Dell Technologies training executives and developers from three countries. RNMKRS is a free online tool students and faculty can use to learn, practice and demonstrate selling skills in a Global Virtual Sales Competition.
Posted in Press Releases


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After having kept its countless fans across India waiting with bated breath, Ford EcoSport will now be launching first in the Chinese auto-market. As recently reported by CarNewsChina, the American auto-giant has scheduled the China launch for its charismatic compact SUV car to take place on the 19th of this very month. The Ford EcoSport launch date in India, in the meantime, has once again been delayed, this time expected to fall sometime around April end or early May. For the Chinese auto-bazaar, which has always shown better inclination for petrol motors in comparison to oil-burners, the American marque plans on introducing an all-petrol range of Ford EcoSport driven by a 1.0-litre, 3-cylinder, turbo petrol mill along with a 1.5-litre petrol engine. To work in synchronization with these engines, a 5-speed manual transmission gearbox has been employed as standard by the company, while a 6-speed dual-clutch powershift autobox has also been chosen to serve as an additional option exclusively for the 1.5-litre petrol mill.
Ford EcoSport is soon going to hit the pan-India dealerships of Ford. With its advertising campaign titled as the ‘Urban Discoveries’ going on in full swing across the country, exploring the numerous cities of India, excitement and anticipation for the car are on an all-time high amongst auto-enthusiasts. In such a dynamic scenario, when the most eagerly awaited launch of the year is just around the corner while its fiercest rival, Renault Duster, clocks in higher sales figures with every passing month, we bring a full-fledged comparison between the two spectacular rides, trying to figure out which one is going to be a bigger threat to the other.
The pioneer in motor shows is back! And it is now only a matter of 3 days before veils are lifted off the most popular new cars of the world at the most prestigious automotive exhibition. Yes, we are talking about the Paris Motor Show 2012 that kicks off at the 27th of this month at Paris Expo. As everybody is well aware, the Mondial de l'Automobile holds a legacy of bringing forward the most scintillating discoveries from the planet's most celebrated car marques every time it returns. This time too, with legendary brands like BMW, Lamborghini, Ferrari, Porsche, Rolls Royce and Cadillac in attendance, there is going to be no shortage of glamor and flair in the City of Lights from 27th September through 14th October.
Compact SUV or also known as Compact crossover, baby SUV and mini-SUV is a vehicle that has been designed on a platform of a sedan or a hatchback and has a body type of SUV. The concept in real sense was made popular by legendary car manufacturer BMW with its BMW X1 crossover. The Audi Q3 became the second entry in the segment just after the X1 crossover. These back to back launches of compact SUVs have created sensations in the auto circuits and also helped to form an all new segment, compact SUVs in India. The Renault Duster is the latest entrant in the compact SUV segment and as most of us aware it came as an entry level option. After these luxury babies Indian car fanatics were eagerly waiting for an affordable car. And Renault Duster, which is a powerful, affordable and fuel efficient urban-SUV, ended this wait. Because of these qualities Renault Duster has grabbed a huge response and bagged over 10k bookings within just 2 weeks after its launch. The positive response indicates larger possibilities for the compact SUVs in the country. And to take an advantage of this, most manufacturers are planning to launch their respective compact crossovers in next two years. Ford EcoSport, Maruti Suzuki XA Alpha , Chevrolet Trax, Mahindra Xylo Mini, Toyota Rush and Premier Rio are some major names that will hit Indian shores soon.
The Indian Auto Expo 2012 witnessed two mini-SUV concepts - Renault Duster and Ford EcoSport. Out of which, Renault Duster has been launched this week and Indian car lovers are now waiting for the bigger treat - Ford EcoSport. Ford EcoSport is one of the smallest SUVs in the world and Ford’s smallest SUV in its global portfolio for the first thing. Moreover, the mini-SUV will be the biggest rival of Renault Duster because of the body type and seating capacity. Ford was planning to launch it during the approaching festive season i.e. around Diwali, but has been postponed. Now the SUV might be launched by the first quarter of 2013. It seems more like a strategy nowadays that let the eagerness in people go up and launch the product the time it gets the maximum hype and publicity. First, Renault for the Duster and now Ford seems to be applying the same strategy for the EcoSport. As most of us are well aware, Ford recently showcased the highly anticipated production version at the Beijing motor show. Secondly, China is the biggest market for SUV cars and the market dynamics are not so different from India. Thus, the model which we saw at the Beijing motor show can also make its way to India. The below addresses what you will find in the SUV when it actually lands into India.
Ford India seems extremely busy these days. Reason? Well, the new Ford EcoSport Crossover is on display at the two prominent Mumbai malls from January 20th 2012. Ford India chose the same kind of tactic with the new Ford Fiesta Sedan. The company then showcased the premium sedan at the Saket Citywalk Mall in New Delhi. From 20th till January 27th 2012, the new Ford EcoSport Crossover will be displayed with proud at the InOrbit Mall located at Vashi and at the Infinity Mall in Malad the car will be on display till 25th of this month. With this kind of strategy, Ford India will figure out the aspiring consumers for the Ford EcoSport Crossover.
Amidst an impressive backdrop of the grand stage setting at the Taj Palace hotel in New Delhi, the much anticipated mini SUV Ford EcoSport has finally broke covers today. The Ford EcoSport is the very picture of true mini SUV exuding power from the overwhelming orange compact body with an all new Ford’s EcoBoost petrol engine to power the car which was unveiled in front of the masses by none other than Ford’s Chief Executive Allen Mullaly and Micheal Boneham, President and MD of Ford India during the presence of Joe Henericks, President of Ford Motors for Asia Pacific and Africa . It is a new beginning for the Ford’s all new 1.0L 3 cylinder EcoBoost petrol engine too to show some phenomenal performance with the capacity to equal the 1.6L petrol engine in performance. This 1.0 L EcoBoost petrol engine is an alternative to the Ford Fiesta’s 1.5 L diesel powertrain under the hood.


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However, a leaked internal document has surfaced with, reportedly, key details that point to the phone carrying a different brand name. Specifically, the document has a section prohibiting staff from commenting on rumours about a "Nokia 10". The document doesn't make clear whether the Nokia 10 name will replace the 9 PureView or if it's an entirely different device, but reports suspect the phone is a flagship.
This all, of course, begs the question: What's happening with the Nokia PurView brand, and will the Nokia 9 PureView successor actually be called Nokia 10 instead of Nokia 9.3? The document does not offer any further information about the Nokia 10, unfortunately.
HMD Global hopes to become a top-three smartphone OEM within the next five years, so it is targeting India, China, Russia, Indonesia, the UK, Germany, South Africa, and the US, and it's expected to announce the Nokia 6.3, Nokia 7.3 5G, and the Nokia 10 (or 9.3 PureView) by end of 2020.


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Boutique Blends Cigars has promoted Charlie Lopez to the position of Director of Sales. For the past 2 1/2 years, Lopez served as the account manager for Boutique Blends in the Florida market. Lopez has over 10 years of experience in the cigar industry, including owning a brick and mortar store.
“I am extremely happy to have Charlie Lopez as part of our family” said Rafael Nodal, President of Boutique Blends Cigars in a press release announcing Lopez’s promotion. “His knowledge and dedication to customer service, will help us to solidify our position in the market as the premier provider of innovated Small Batch cigar blends”.
On his appointment to Director of Sales, Lopez commented “I look forward to continue to grow with the Aging Room Small Batch brand and be a part of exciting upcoming new releases with this amazing team”.


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» Descargar Hacker De Dragon City 2013 Gratis
Descargar Hacker De Dragon City 2013 Gratis
Descargar Hacker De Dragon City 2013 Gratis on Technology News and Updates AdmaTechnology.com at Thursday, April 24, 2014
This time AdmaTechology try to give a brief review of the latest security system from Symantec, Norton Internet Security 2013. What are the advantages? Consider the following reviews.
The main features
Norton Internet Security (NIS) 2013 already have [...]
After the release of the game Grand Theft Auto III in the mobile version, Rockstar Games is back doing the same thing for Grand Theft Auto: Vice City.
Quoted from Slashgear, Saturday (27/10), the presence of iOS and Android version marks the 10th anniversary [...]
Screen HD 1080p will most likely be a top-class smartphone trend in 2013. Currently the majority of upscale smartphones still use 720p HD display, call it the Samsung Galaxy S3, Nokia Lumia 920 or HTC One X +.
A source interviewed by DigiTimes saying [...]
BBC Weather Twitter account today hijacked by a hacker group called the Syrian Electronic Army.
This hacker group is a group that supports the Syrian president, Bashar al-Assad, as reported by cnet.com (21/03).
Through Reuters, BBC ensure that their [...]
Samsung has finally officially introduced the new members in the family of Galaxy Note, the Galaxy Note 8.0.
Quoted from IGN, Monday (2/25), the South Korean manufacturer utilizing the Mobile World Congress 2013 in Barcelona February 25 to 28 to show [...]
The news about the presence of the successor to the iPhone 5 more widely heard. If previously only known to be released summer of 2013, the latest info mengunkapkan that the smartphone is ready to go July.
Quoted from Techradar, Tuesday (30/4), about [...]
Who does not know the game Battlefield series. Games were popular through its multiplayer mode has a slick visual images and an interesting storyline.
According to an official invitation received by Gamespot, Electronic Arts and DICE plans to celebrate [...]
News of the warm coming from two future Samsung products mentioned in this release, the Galaxy Tab 3 and Galaxy Note 3.
Quoted from Ubergizmo, Thursday (21/3), both rumored to appear first on IT exhibition IFA 2013 in Berlin, Germany.
This event is scheduled [...]
Two more top-tier titles that are ready to enliven the new Microsoft console, Xbox One, namely Battlefield 4 and Watch Dogs.
Quoted from IGN, Wednesday (22/5), specifically for Battlefield 4, DICE as a developer of the game will use the Frostbite 3.
Eidos Montreal announced a new game genre action adventure titled Thief 4, which is scheduled to be released on the PS4 console, PC and next-gen Xbox.
The game is scheduled to be released in 2014. Thief Game is a reboot of the classic series that brings [...]
Good news for you gamers fans of Assassin’s Creed. The latest series of the popular game will be back for the Xbox 360, PS3, and Wii U.
Quoted from IGN, Friday (3/1), as the publisher and developer Ubisoft game plan will reveal the details of the [...]


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LTV EXTENDS BENEFITS
LTV Corp. reached a tentative agreement with its workers Wednesday to extend unemployment and insurance benefits for displaced workers and retirees through February. The agreement was made during a U.S. Bankruptcy Court hearing. About 100,000 workers and family members are covered by the benefits.
TRIQUINT WARNS OF LOSSES
Shares of Triquint Semiconductor Inc. of Hillsboro, Ore., fell almost 15 percent Wednesday, closing at $12 a share, down $2.10 on the Nasdaq. The company, which owns Apopka-based Sawtek, lowered its earnings guidance and said it will now post losses in both the current and coming quarters. Analysts said the company has seen a downturn in both its optical and satellite businesses.
PRINCESS LINE CONSIDERS BIDS
The battle between the two Miami cruise giants -- Royal Caribbean Cruises Ltd. and Carnival Corp. -- to combine with London-based P&O; Princess Cruises, grew hotter Wednesday. P&O; Princess set a date of Feb. 14 -- instead of mid-January -- for its shareholders to vote on the proposed merger with Royal Caribbean, giving Carnival Corp. a chance to improve its bid. P&O; Princess chief executive Peter Ratcliffe said the British company is still committed to its deal with Royal Caribbean. He gave Carnival a Jan. 18 deadline to present a "credible and superior" offer.
IPO COULD RAISE $5 BILLION
Citigroup Inc., the nation's largest financial services company, plans to spin off its Travelers Property Casualty insurance business, and analysts estimate it could garner up to $5 billion in an initial public offering of stock. The decision announced Wednesday will enable Citigroup to focus on faster-growing areas of the financial services industry, said Citigroup chairman and chief executive Sanford Weill.
RADIOSHACK CUTTING BACK
Consumer electronics retailer RadioShack Corp. said Wednesday it plans to sell its headquarters, discontinue the sale of products like car stereos and security systems, and close 35 underperforming stores in an effort to strengthen its business. The Fort Worth, Texas-based chain of more than 7,300 stores, which focus on accessories, electronics parts and wireless communications, will also exit its commercial communications installation business.
SEAGRAM'S DEAL IS OK'D
U.S. authorities Wednesday cleared the sale of Seagram's wine and spirits empire to France's Pernod Ricard and Britain's Diageo PLC, after the British drinks group agreed to sell its Malibu rum brand to resolve antitrust concerns. The U.S. Federal Trade Commission voted 5-0 to allow the $8.15 billion deal that divides the drinks brands of Seagram, a unit of France's Vivendi Universal. European regulators already have approved the deal.


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Retailers must be bracing for a tough year. Since October, more than 200,000 Canadians have lost their jobs. Consumer confidence hovers at levels similar to past recessions.
Despite the challenging environment, Kubas Consultants, a Toronto-based market research and consulting company, predicts the retail sector — excluding car dealerships, gas stations and other automotive-related stores — will grow revenue by 3.5% in 2009. Ed Strapagiel, Kubas’s executive vice-president, says higher prices will be responsible for half the rise, as merchants pass on some of the increased cost of imports — a result of a weaker Canadian dollar — to shoppers. Costlier inventory combined with consumers’ tendency to look for bargains, though, could squeeze margins in 2009, he points out. Still, certain sectors could shine. For example, people will likely eat at home more often this year, helping sales at grocery stores and consumers’ insatiable desire for the latest gadgets will continue to boost sales at electronics retailers.
John Archer, a senior consultant with the J. C. Williams Group, a retail consultancy in Toronto, isn’t as optimistic. He predicts between a 1% decline to a 1% increase in revenue. Archer points out the Canadian economy usually lags the American one, and he has yet to see convincing signs of a turnaround in the U.S. Independent and regional retailers could suffer the most this year, he says, because of the difficulty they could have in getting credit to buy merchandise. Adding to these problems, he says Canadians haven’t fully reined in their spending, which means the situation could get worse, before it gets better.


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By Anna Patty Workplace Editor
Most Australians still prefer shopping in stores instead of online, according to a new survey.
The national survey of 1254 people aged 18 to 64 by Galaxy Research shows that 94 per cent identified more as "in-store" rather than "online" shoppers.
The main reasons included wanting to try clothes, shoes and accessories on for size and being able to check their quality before purchase. Access to sales staff who can help them get the colours and sizes they want is also among their reasons.
Victorians/Tasmanians (74 per cent) and South Australians (73 per cent) are more likely than West Australians (65 per cent), Queenslanders (64 per cent) and those in NSW/ACT (63 per cent) to still identify more as an in-store shopper because it is the only way they can confirm the quality of an item.
One in four of the shoppers surveyed are also worried about using their credit card online. The atmosphere found inside a shop was also important.
Close to half the people surveyed around the country in October said they researched products online before buying them in a shop.
More than 90 per cent said they think they are more likely to find better deals in a store.
Men were more likely than women to still identify more as an 'in-store' shopper. A similar proportion said they preferred to do their shopping in stores. The time left for online purchases to be sent through the mail was among reasons.
Most people said they prefer doing their Christmas shopping in stores because they do not know what to buy and are looking for inspiration.
They also want to check the quality of products to avoid the embarrassment of giving a gift that falls apart or does not work.
Attending a shop also allowed them to buy a number of gifts in one place and saved time, according to half the people surveyed.
"Other reasons people prefer to do their Christmas shopping in store are because they often leave some or all of their gift buying until the last minute so there is not really enough time for delivery, especially if some things need to be exchanged or returned (31 per cent) and because they have gift wrapping services in most shopping centres so you can save a lot of time and effort (20 per cent)," the study found.
The study was commissioned by accounting software company Xero, which is offering small businesses use of a pop-up retail space in Federation Square in Melbourne in the lead-up to Christmas.
Trent Innes, managing director of Xero Australia, said there was no doubt "online players have forever changed the retail landscape" but shopping in-store had retained its appeal for most Australians according to the survey.
"In fact, 70 per cent say they shop the same or more in-store now than they did three years ago," Mr Innes said.


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Here are all the items in your kitchen that you may not think of giving a deep clean but that you absolutely must avoid any risk of contamination by the coronavirus or other viruses.
According to a British study conducted by kitchenware brand Olivers' Kitchen, eight out of ten consumers in the United Kingdom have never cleaned their kitchen microwave from top to bottom. However, 68 per cent have thought about stripping their conventional ovens in the past year. The microwave is also worthy of a thorough cleaning to remove all traces of Sars-CoV-2.
Moreover, last April, France's labour ministry recommended frequent, regular cleaning of microwaves in workplaces in a guide of good practices. Because, no, the microwave is not a tool to eliminate the virus. The effects of electromagnetic oscillations on the new coronavirus are not precisely known.
How often do you replace your dish sponges? You should throw them away at least... once a week.
According to a scientific study conducted in 2017 and published in the journal Nature, they may indeed contain up to 362 different species of bacteria, including staphylococci, e.coli or salmonella. According to this report, which consisted of examining the contents of a sponge under a microscope, the kitchen and bathroom were found to be the rooms in the house with the greatest potential contamination by various pathogens. And all because of the sponges.


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MUMBAI: Europe's largest two-wheeler maker Piaggio, which will relaunch its iconic Vespa scooter in March, may drive in other brands such as Piaggio scooters and Moto Guzzi motorcycles to India in the long run.
"We are doing a comprehensive and exhaustive research in India as to what could be the product line for the next few years," Piaggio Vehicles India MD Ravi Chopra told ET.
"We will be clear about what should be the road map for Piaggio in India in the next few months," he said. The findings of the study are likely to be completed by March.
The Italian two-wheeler maker's global brands include Vespa, Aprilia, Moto Guzzi, Piaggio, Derbi, Gilera and Laverda. While Vespa will be positioned in the premium segment, with 20-25% higher price tags than Honda or Suzuki scooters, the Italian company may bring in Piaggio branded scooters in the mass market.
"We have to get into mass market scooter segment that is the large chunk of the market. If we don't exploit at the right time, then I think we will miss out on the opportunity," said Chopra.
The company may also enter the executive and premium segments-that is, 110-250 cc and priced between 50,000-1,50,000-and also bring in the Moto Guzzi in the big premium luxury motorcycles segment. The immediate focus, however, is Vespa.
Chopra declined to comment on its likely price tag, but said the company is convinced that there are enough takers for a premium scooter. "After an intensive research, we are more than convinced that there are enough people who would like to have a lifestyle product, who would like to be part of the exclusive club," he said. While Piaggio will roll out Vespa 125 cc scooter first, it eventually plans to bring in the entire range (125-300 cc).
A person familiar with the company's plans said the firm may make its way into the mass market with Piaggio scooters in the second half of this calendar or early 2013. The company is expected to focus on scooters till 2013 by launching 3-5 models in different price segments.
The Indian scooter market has been growing at a compounded rate of 15-20% over the last couple of years. Honda Motorcycle India is the market leader, accounting for more than 44% of the 2.2 million scooters sold in a year.
It's a highly competitive market. And at the Delhi Auto Expo, where Vespa was launched, several of its competition too were showcased what with Hero MotoCorp, Yamaha India, Suzuki Motorcycle and Mahindra Two wheelers all launching scooters.
Experts believe one of the biggest challenges for Piaggio will be to recreate its brand image.
"The challenge will lie on how they are going to manage the transition from being a three-wheeler auto rickshaw firm to maker of high-on-technology two-wheelers aimed at young Indian customers," said V G Ramakrishnan, vice president of Frost & Sullivan.
"They will have invest huge amount of money on branding and get the pricing right to succeed," he added. Piaggio has invested 32 million euros, or 210 crore, in an all-new plant in Baramati with a capacity of 1,50,000 units annually. It intends to have 50 dealers in 35 cities this year and 100 dealers within 18-24 months.
It launched sports racing bike brand Aprilia in 2011. While it has just one dealership in Pune, it plans to expand it to five locations this year.
Piaggio Vehicles India closed 2011 with a turnover of 2,700 crore and Chopra expects the Indian operations to grow by a compounded annual growth rate of 8-10% in the next few years.