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The company will also permanently shut down. The move comes after Buyk suddenly laid off employees earlier this month. Buyk began offering rapid-delivery services last year in New York and recently expanded to Chicago. The company listed assets and liabilities of as much as $10 million each in its bankruptcy petition, filed Thursday, according to Bloomberg.
“We have diligently explored all possible options and partnerships to restructure Buyk and keep the business going, however, the war in Ukraine and subsequent restrictions in funding have unfortunately made it impossible to continue operations,” Buyk CEO James Walker said in a statement.
Buyk was unable to access funds after sanctions were imposed on Russian companies. Co-founders Slava Bocharov and Rodion Shishkov were listed as Buyk’s largest equity holders, according to Bloomberg. The pair also founded Samokat, one of Russia’s biggest instant grocery-delivery companies. The company is partially owned by Russian bank Sberbank, which has been sanctioned.
The company is one of many in the ultra-fast delivery startup scene, which has seen huge demand throughout the COVID-19 pandemic. This demand has attracted millions––and even billions––of investment dollars as delivery services companies expand.


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Toyota is recalling 625,000 Prius models worldwide for faulty hybrid ECU software. The issue affects 109,000 units of the 2012-2014 Prius V in the US. In some cases, it can cause the vehicles to stop functioning while driving.
Toyota Prius V
Toyota is recalling 5,000 Prius V models over a faulty passenger-side airbag sensor that may not detect a passenger in the event of an accident.
When it comes to Toyotas, some models (like the Mark X sedan and Harrier crossover) never make it out of Japan. And for the 2015 Tokyo Auto Salon, two of Toyota's domestic tuning divisions have made them even more enticing.
The Toyota Prius V is the most utilitarian member of the Prii family with a big jump in cargo space over the rest but maintaining the great fuel economy. For the 2015 model year, the company is giving the wagon an update with a big shift in front end styling and upgraded taillights to go with the revised look. Inside, customers also get a little new technology, as well.
Toyota has unveiled a mid-cycle refresh of its seven-passenger, UK-market Prius +, known here in the US as the five-passenger Prius V. The revised hybrid MPV now boasts looks inspired by Toyota's more aggressive compact stylings as seen on its new Yaris and Aygo – particularly in th
How can Consumer Reports give a car a 99 out of 100 rating, call it "the most practical electric car we've ever tested" and still not give it a "Recommended" rating? Because of how that rating gets decided. Basically, when CR tests a vehicle, it also needs more reliability data over time to assign that famous "Recommended" rating. That time has now passed, and the Sebastian Blanco
July was a great month for the Toyota Prius lineup. Toyota Motor Sales, USA sold 23,294 Prius units in July 2013 versus 16,643 in July 2012 – a nearly 40-percent increase. In July 2013, the standard Prius Liftback sedan sold 15,252 units, the larger Prius V sold 3,428, the smaller Prius C sold 3,797 and the Prius Plug-in Hybrid m
The Toyota Prius V has a lot to recommend it, but adventurous and sporty styling is not in its repertoire. That's why this new Auris Touring Sports has our attention. Claimed to be the "first full hybrid estate car" in the compact class, this two-box Auris has genuine visual panache to go with its load-lugging capability and parsimonious fuel econ
The grain of salt one should take this post with is that Wayne Gerdes is just one man, and that his personal test results may not be applicable to everyone. Still, Gerdes is well-known in the green car community – his Guinness World Record for lowest fuel consumption in a hybrid and his position as owner of CleanMPG are just two good reasons – so when he and his crew
Toyota is recalling sixteen models from the 2009 to 2013 model years over a potential issue with passenger seat airbag calibration. In spite of the large number of different Toyotas covered by the recall, just 3,235 units are included. These were vehicles installed with accessories like leather seat covers and headrest DVD systems by Southeast Toyota Distributors, and during the modifications the passenger seat occupant sensor system might not have been c
Earlier this year, the Insurance Institute for Highway Safety introduced a new crash test for vehicles, one that focused on what happens when the front corner of a car collides with another vehicle or object.
Crash tests continue to get ever tougher, and the new "small overlap" test from the Insurance Institute For Highway Safety is giving engineers fits. The new procedure, launched in August, subjects just 25 percent of a vehicle's front end to an impact at 40 miles per hour, and it's proven to be a lot tougher to ace than the institute's
The Toyota Prius has pretty much ruled the hybrid roost since popularizing the super-efficient market segment over the last decade, but that doesn't mean other automakers aren't trying to catch up. Ford, in particular, has been dabbling with gas/electric drivetrains for some time – think Ford Fusion and Escape hybrids – and
We've heard the Toyota Prius jokingly called the State Bird of California, but recent sales data shows that the world's most popular hybrid is, in fact, the best-selling car in the state. Well, the best-selling vehicle line, at least, since the Prius now comes in four variants.
"Meet the new boss. Same as the old boss."
It won't only start out cheaper than the Toyota Prius V, it will also be more fuel efficient. Ford is claiming its C-Max Hybrid, which goes on sale later this year, will get 47 miles per gallon.
Think you're seeing more Toyota Prius models on the road these days? Well, you are.

domain: news


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Abercrombie & Fitch (ANF) got a recent boost in its share price from a better than expected fourth quarter, but it's unclear yet whether the performance of the company is in a real turnaround mode, or it's just a temporary uptick coming from low-margin price incentives offered during the holiday shopping season.
It is likely the major reason for the company being under pressure has been the perception it is no longer considered a 'cool' company by its teenage demographic, which has gravitated away from logo and/or branded clothing to clothing that looked upon as more contemporary and is less expensive.
The performance of the company in the latest quarter shows consumers will respond to lower prices, but...
Only subscribers can access this article, which is part of the PRO research library covering 3,597 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can:


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Posts: 1,178 +41
Facepalm: New mid-range RTX 4000 Ada graphics cards are increasingly appearing as mediocre offerings, with their prices being the main disappointment. Customers had hoped for a variant of the 4060 Ti with more VRAM, but a $500 price tag is scaring off AIB vendors.
Reputable leakers indicate that a new GeForce RTX 4060 Ti model with 16GB of VRAM could launch as soon as next week. Users who were disappointed with the variant released at the end of May have requested a model with more memory. However, Nvidia and its board partners reportedly predict that the new version's price tag will limit its success.
Most recent information suggests that the 16GB RTX 4060 Ti will be available on July 18. However, HardwareLuxx editor Andreas Schilling is saying that add-in-board (AIB) companies are offering relatively few models of the card because its $500 price is too close to the 12GB 4070, which will likely easily outperform it. A leak from ITHome suggests that at least one Asus ROG Strix 16GB 4060 Ti could cost more than the most affordable 4070.
So the RTX 4060 Ti '16GB' is meant to be arriving this month, word on the street is the 18th. I can't confirm nor deny that, as I don't actually know, but Nvidia has already announce a July release.– Hardware Unboxed (@HardwareUnboxed) July 10, 2023
Now there's no official review program for this model, there will be no FE…
Hardware Unboxed reports that there won't be any reviews for the upcoming GPU at launch because AIBs won't provide samples. Nvidia has so little faith in the card that it won't even release a Founders Edition.
In our review of the 8GB 4060 Ti, we called it a perfectly capable GPU with the wrong price. Mid-range products from Nvidia's last-generation RTX 3000 series or AMD's Radeon RX 6000 line offer comparable performance at much better prices. Our RTX 4060 Ti vs. RTX 3060 Ti 40 game benchmark shows that the newer card barely outperforms its predecessor – and in a few cases is actually slower.
The RTX 4060 (non Ti) didn't fare much better. Its 8GB of VRAM – an amount customers have been criticizing since Nvidia included it in the RTX 3070 – undermines the card's value at its $300 price tag. European retailers seem to agree, as its lukewarm reception in that market has led to price drops. Furthermore, the 128-bit wide memory bus doesn't help. Overall, the GPU feels as though it should have been named the RTX 4050. As it stands, the only Lovelace card with a solid price-performance ratio is the $1,600 flagship 4090.


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April 27, 2023
WASHINGTON, DC — April 27, 2023 — UL Solutions, a global leader in applied safety science, and Korea’s Ministry of Small and Medium-sized Enterprises (SMEs) and Startups (MSS) signed a memorandum of understanding (MoU) formalizing a collaboration to support market access readiness for promising Korean startups in new industries, including new mobility. The MoU was signed by Minister of SMEs and Startups Young Lee and UL Solutions Executive Vice President and President of Testing Inspection and Certification Weifang Zhou on the occasion of South Korean President Yoon’s state visit to the United States.
The MoU will facilitate cooperation between MSS and UL Solutions to include the development of implementation agreements to guide support for Korean tech startups using UL Solutions safety science expertise and a global certification support center in Korea.
“This MoU is significant as it is the first case where UL Solutions, recognized as a leading quality and safety certification company, provides technical support to foreign startups,” said Minister Lee. “Through cooperation between the two organizations, MSS will spare no effort to support promising companies to overcome challenges such as changes in the global economic landscape and to blossom and thrive, and the Ministry will continue to develop cooperative models to solidify the innovative foundation for future generations,” she added.
“Helping innovators address their safety, security and sustainability challenges is at the core of our mission,” said Jennifer Scanlon, president and CEO, UL Solutions. “We are honored to collaborate with Korea’s Ministry of Small and Medium-sized Enterprises and Startups to apply our safety science expertise to help promising companies transform challenges into business opportunities.”
MSS plans immediately to carry out working-level discussions with UL Solutions to finalize plans to utilize UL Solutions' safety science expertise in the U.S.,
operate a global certification support center in Korea and actively identify cooperative projects between Korean startups and companies in the U.S. UL Solutions will look for opportunities to support SMEs with services to help them increase market readiness and help enhance product quality and safety, from performance verification to testing and inspection.
“UL Solutions is honored to be a part of this MoU allowing us to apply our safety, data and technology expertise that will help empower businesses in Korea to innovate with confidence today and fuel future success,” said Zhou. “Working across industries means we know how to adapt our services to novel products, emerging fields and evolving regulations. We look forward to sharing our insight with promising Korean companies and welcoming them to our global innovation community.”
About UL Solutions
A global leader in applied safety science, UL Solutions transforms safety, security and sustainability challenges into opportunities for customers in more than 100 countries. UL Solutions delivers testing, inspection and certification services, together with software products and advisory offerings, that support our customers’ product innovation and business growth. The UL Certification Marks serve as a recognized symbol of trust in our customers’ products and reflect an unwavering commitment to advancing our safety mission. We help our customers innovate, launch new products and services, navigate global markets and complex supply chains, and grow sustainably and responsibly into the future. Our science is your advantage.
T: +1 (847) 664.8425


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For some, Telstra’s latest offer may be something they’ve waited years to do: the giant telco wants to offer “one throat to choke” through a bundle of voice and data services aimed at businesses with up to 25 employees.
Dubbed “Digital Business” the new bundles start at $120 a month for a single user.
For that money you get a voice and data connection, unlimited calls, a decent download allowance, a domain name and use of hosted email facilities powered by Microsoft Exchange and delivered as part of Telstra’s T-Suite software-as-a-service offering.
Each extra user incurs charges that start at $35 a month.
The service comes with a shiny new Cisco router, plus Cisco IP handsets.
Clever call forwarding between fixed and mobile phones comes as standard, as does unlimited voicemail.
Deena Shiff, Telstra’s Group Managing Director, Telstra Business, said the offer will stand or fall on the service the telco delivers small businesses.
“Service is our be all and end all,” she said today at a Sydney press event.
“If we get service wrong, we will struggle.”
Shiff said Digital Business has therefore been the subject of intense effort within the company, as it seeks to “taken out processes that hampered good service.”
If you feel a tad cynical about that, there’s reason for some optimism: My Business asked how long it would take for a replacement router to arrive in case of failure.
Often at launch events companies don’t have a direct answer, but on this occasion Telstra not only had an answer – expect a replacement on the next business day – but said it is also working to get caches of spare parts into technicians’ trucks and Telstra Business Centres.
The new service also has some smarts: some plans allow sharing of call and data quotas between fixed and mobile devices, all with a single bill.
That feature is something Telstra is banking on as a lure for customers, as the event was littered with references to the opportunity cost small businesses incur when managing several telecommunications providers and their bills.
Cheap calls, plus less administrivia, is said to add up to savings of up to $3000 a month.
If that sounds tempting, hold your horses: Telstra said today’s event heralded a “soft launch” for the product (It’s the first time we’ve ever seen a soft launch attended by a Federal Minister, in this case Small Business Minister Nick Sherry).
You can order the product now, but don’t expect to wield it until June.
Many businesses will have to wait even longer as the product requires an upgrade to Telstra’s exchanges.


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When Jeffrey Davis said “see you next year” to a car manufacturer representative at the conclusion of the Massachusetts International Auto Show in Worcester last year, the response sounded like an engine choking its last gasp.
“ ‘Well, yeah — if there's an auto industry next year,' ” the man told Mr. Davis.
But after a year that saw continued recession, cash-for-clunkers, dealership closures, discontinued cars and car recalls, the industry and Mr. Davis are back for the 2010 edition of the show inside the DCU Center this weekend.
The three-day event that concludes today features vehicles from most of the major manufacturers — all of it on 50,000 sold out square feet, level ground with no precarious inclines in view. Mr. Davis is vice president of Expo Management Group, which has produced the annual car show at the DCU Center since the facility opened its doors in 1982. He has seen trends and moods change gears through the years.
“I think there's a sense in the industry — we didn't drive over the cliff. And that's pretty much where it stands,” he said. “Is it a better year? Yes. Is it great? No. I think the general sentiment of the economy is ‘hey, we're over the worst.' But I'd be lying if I said it wasn't a struggle.”
The atmosphere inside the DCU Center yesterday was quietly serious and low key. One person was threatening to yank his eyes out with hooks and wire as some children looked on curiously, but he was Ses Carny, a “professional, full-time sideshow entertainer” from Raynham. Carny was dressed as a clown and providing some entertainment on behalf of Monster Mini Golf (which has a franchise in Webster), one of the few exhibitors at the show that didn't have anything to do with cars.
A potential star car attraction wasn't even plugged in to the main floor of the show yesterday, although media viewings could be arranged. Sitting in an empty space away from the activity was a Ford Escape Plug-in Hybrid. It is one of only 21 plug-in hybrids that Ford Motor Co. has in a test fleet with utility companies, including National Grid. Tyler Partridge of Ford Motor said the vehicle can operate on electricity for 30 to 35 miles and then as a hybrid, getting up to 120 miles per gallon. Ford hopes to have the car on the commercial market in 2012.
Back to 2010, and Mr. Davis seemed happy with the foot traffic at the DCU Center, where people were mulling options. Mr. Davis expects attendance to be in the vicinity of 10,000. The show will be open from 11 a.m. to 5 p.m. today. Mr. Davis has some secrets of his own in terms of getting extra mileage for the event: The timing is chosen with care — “It's the dead week between the playoffs and Super Bowl, and that's not a coincidence,” he said.


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McColl’s collapse into administration could have a significant impact on e-commerce and parcels logistics beyond its own retail operations, according to delivery specialist ParcelHero. The convenience store chain said in a statement to the London Stock Exchange this afternoon (6 May) it was “regrettably left with no choice other than to place the company in administration” after discussions with its senior lenders broke down. A last minute attempt by Morrisons to put in place a rescue deal was rejected by […]
Same-day delivery company CitySprint has said its Christmas peak was later than ever in December, as more online shoppers left their orders to the last minute.
eBay partners with Orange Connex, Hermes and Royal Mail to launch end-to-end fulfilment for UK sellers
eBay UK is laying down the gauntlet to Amazon, launching its first end-to-end fulfilment service for UK sellers.
Landbridge Logistics has stepped in to take over some of Surfair Global Logistics’ contracts after the company’s voluntary liquidation this week, Motortransport.co.uk has learnt.


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Council of EU extends temporary trade liberalization with Ukraine
BRUSSELS/MOSCOW. May 25 (Interfax) - The Council of the European Union has decided to extend temporary trade liberalization with Ukraine and other trade concessions applicable to Ukrainian products for another year.
"The Council adopted today a Regulation which renews the suspension of all customs duties, quotas and trade defense measures on Ukrainian exports to the EU for another year, until June 2024," the Council said in a press release published in Brussels on Thursday.
"The renewed Autonomous Trade Measures will unequivocally support Ukraine and at the same time they provide the EU with a way of protecting if necessary the internal market from significant increase in imports of some agricultural products," Johan Forssell, international development cooperation and foreign trade minister of Sweden, which is currently holding Council presidency, said when commenting on the decision.
Brussels said it expects these measures should help Ukraine maintain stability of its trade relations with the EU and preserve its economy under challenging circumstances. "Coupled with extensive military, financial and humanitarian support, this is crucial to help Ukraine in its long-term recovery," it said.
Ukrainian President Vladimir Zelensky welcomed the Council of the EU's decision to extend trade liberalization with Ukraine.
"I welcome today's decision of the EU Council to extend temporary trade liberalization for Ukrainian products for another year. The full abolition of duties and quotas has been extended until June 2024. As we move towards the EU, this temporary liberalization should become permanent - without any exceptions or restrictions. I am grateful to all EU members for their support, which brings us closer to the EU accession," Ukrainian media said quoting Zelensky's social media post.
Prime Minister Denis Shmygal also welcomed the Council of the EU's decision in his social account.
"The Council of the EU today extended the 'economic visa-free arrangement' with Ukraine for another year. This means Ukrainian businesses won't pay any duties, quotas, or tariffs while exporting goods to the EU at least until June 2024," Ukrainian media reported with reference to Shmygal's post.
He thanked European partners for the decision supporting the Ukrainian economy and business community.
The European Commission proposed extending temporary trade liberalization supplementing trade concessions applicable to Ukrainian products on February 23, 2023. The European Parliament adopted its first-reading position by taking over the Commission's proposal without any amendments on May 9. After the regulation is signed by the representatives of the Council and the European Parliament, it will be published in the Official Journal and enter into force on 6 June.


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Scotiabank is working to develop fintech initiatives in five key markets: Canada, Mexico, Chile, Peru and Colombia. Robin Arnfield talks to Dubie Cunningham, Scotiabank’s VP, enterprise innovation, and Thayde Olarte, VP, fintech partnerships
In February 2017, Scotiabank said in an analyst presentation that it would spend C$1.3bn ($1.06bn) on digital technology in the next three years to become a digital banking and customer experience leader in its five key markets: Canada, Chile, Colombia, Mexico and Peru.
Scotiabank president and CEO Brian Porter has publicly stated that Scotiabank sees itself as being in the technology business. As if to confirm this, an IDC Financial Insights report, Canadian Banks: Digital Transformation & Maturity Level by Robert Smythe and Jason Bremner, says: “While [Scotiabank’s] product is banking, it is largely delivered through technology.”
Pacific Alliance Region
The Pacific Alliance trade bloc comprises Chile, Colombia, Mexico and Peru. In the region, Scotiabank has partnered with venture capital company QED Investors and with NXTP Labs, a Latin American fintech startup accelerator.
In support of its strategy to become a key Pacific Alliance player, Scotiabank agreed to buy Spanish bank BBVA’s 68% stake in BBVA Chile in December 2017. Scotiabank plans to merge BBVA Chile with Scotiabank Chile, subject to regulatory approval.
“This acquisition allows us to create a leading bank in Chile, underpinned by a solid risk culture, and provides opportunities to accelerate our digital transformation while building a high-performance team,” Ignacio (Nacho) Deschamps, Scotiabank’s group head, international banking and digital transformation, said at the time.
“Scotiabank embarked on a major digital transformation program two years ago,” says Cunningham. “We realised our customers’ expectations are changing as there are a lot of new customer experiences which they have access to.”
Two key pillars in Scotiabank’s transformation are technology investments and changes to its culture.
“A key element of our strategy is looking externally from ourselves to the international fintech ecosystem to help us and participate in the global digital transformation process,” explains Cunningham. “After looking at other banking and fintech success stories around the world, we decided to do this via partnerships.”
Scotiabank’s five Digital Factories – in Toronto, Canada, Chile, Colombia, Mexico and Peru – are the focus for its partnerships with fintechs, research institutions, venture capitalist companies and other participants in the fintech ecosystem.
Cunningham says Scotiabank has built numerous strategic sponsorship programmes with universities in Canada. These include the Scotiabank Disruptive Technologies Venture at the Rotman School of Management, which supports initiatives such as the Creative Destructive Lab program focused on machine learning and AI ventures; the Scotiabank Design Thinking Research Studio at OCAD (formerly the Ontario College of Art and Design) University; the Scotiabank Digital Banking Lab at Ivey Business School at Western University; the Scotiabank Centre for Customer Analytics at the Smith School of Business at Queen’s University; and the Scotiabank Professorship in Technology Entrepreneurship and Innovation at St Mary’s University.
“When we create new partnerships with the academic community we look at how we can help foster the new generation of bankers and fintech entrepreneurs,” Cunningham says.
To help spur fintech developments, Scotiabank has dozens of “proofs of concept” and pilots underway with fintechs around the world, Cunningham says. A key element in this process is to incubate ideas within Scotiabank’s Digital Factories.
“We incubated a Canadian fintech ourselves and spun it off, Deep Learni.ng,” says Cunningham. “This generated a lot of learning.”
Deep Learni.ng uses AI to anticipate which customers are likely to default on loans. “It uses large amounts of data and neural networks to see who needs to be reminded about past-due dates and who is getting into difficulty with debt,” Cunningham explains. “Using Deep Learni.ng’s powerful prediction tool, we can better anticipate our customers’ credit issues and help them earlier on.”
Scotiabank does not take equity positions in the companies with which it works in the Digital Factories, but sees its involvement as a strategic play to learn about and enter new markets. “We do, however, make selective equity investments in fintechs,” says Cunningham. “For example, in common with Canada’s other big banks, we have an investment in SecureKey.”
In October 2016, major Canadian financial institutions such as BMO, CIBC, Desjardins, RBC, Scotiabank and TD invested C$27m in digital ID ecosystem developer SecureKey. Scotiabank also has an investment in US-based online lending technology business Kabbage, with which it has partnered through its Digital Factory to provide small business loans in Canada and Mexico. The Kabbage partnership enables Scotiabank to offer loans to Canadian and Mexican small businesses. In August 2017, Japan’s SoftBank invested $250m in Kabbage.
“We started to think about how our requirements need to evolve from traditional ways of banking and how we needed fresh new thinking in several areas, including branches, customer experience and risk,” says Cunningham. “We have partnerships with risk and fraud specialists, for example in Israel.”
In December 2017, Scotiabank announced partnerships with leading Israeli companies Viola Group and Team8, which have expertise in fintech, cybersecurity and fraud prevention. This includes an unspecified investment in Viola Fintech I, a venture fund that invests in Israeli, European and North American fintechs in various stages of growth.
“2018 is the break-out year for our five Digital Factories,” Cunningham continues. “They are using design thinking and agile methodology to create brilliant new technology in step with the fintech community.”
A key role the Digital Factories play is to achieve cultural transformation within Scotiabank. “One of the most successful things about the programme is that our people have learned a lot from startups in terms of looking at problems in different ways, new business models, and new ways of approaching the market differently, while putting customers first,” says Cunningham.
“The fintechs have also gained a lot. Scotiabank has 24 million customers and a huge geographical service area. We’re used to building large-scale bank-grade projects and technologies, and we are experienced at dealing with regulators and helping customers to have a great experience. Through Scotiabank joining forces with fintechs, the sum of the parts is greater than the individual companies. We benefit and fintechs benefit.”
Mobile banking platform
Scotiabank has a major effort underway to upgrade its mobile banking platform.
“One of the exciting things about the Digital Factories is collaboration on mobile banking across the geographies,” says Cunningham. “We have an integrated, cross-geography view and approach to innovation. Canada may create the underlying infrastructure, and then Mexico or another country in the Pacific Alliance region will create the top user experience layer for that country. But we co-create and closely integrate the infrastructure in our Digital Factories.
“One of our key goals is to increase our customers’ adoption of digital banking, and to extend our digital reach to customers,” Cunningham continues.
“In Canada, we have rolled out support for all the Pays – Apple Pay, Samsung Pay, Google Pay – and we expect digital payment adoption to increase. We want to be where our customers want us to be – whether this in social media messaging apps or in chatbots.”
“There are nearly 800 fintechs in Latin America, but it is still nascent,” says Olarte. “Brazil, Argentina and Mexico are at the top of the fintech ecosystem growth cycle.”
Although Scotiabank does not operate retail banking businesses in Argentina or Brazil, it can tap into those markets via QED Investors, which makes equity investments in local companies with portable business models.
“QED Investors has investments in Brazil and Mexico,” adds Olarte. “Its portfolio includes six companies in Brazil and two in Mexico. We want to grow organically in Chile, Mexico, Colombia and Peru, as witnessed by our investment in BBVA Chile.
“But Scotiabank is market-agnostic when scouting for promising technology startups, and we see Brazil and Argentina as part of our fintech program. There are also opportunities to grow our fintech penetration in Mexico, the Caribbean and Central America, and we’ve been engaged with some companies in the Caribbean and Central America.”
“While we expect to see fintechs emerging from many countries – for example from Costa Rica or Jamaica. We anticipate the ones with the most successful growth will come from Brazil, Mexico and Argentina.”
Olarte says non-traditional lending is a major emerging area in Latin America. “If you visit Silicon Valley in California, you will see dozens of non-traditional lenders,” she says. “There is an opportunity for Latin American fintechs to emulate their business models.”
Olarte says NXTP Labs is mentoring and investing in Latin American fintech startups, especially in non-traditional lending, and is providing Scotiabank with access to these companies.
“Lending is very relevant in Latin America, as in most countries in the region only about 50% of the population has a bank account,” she says. “The exception is Chile where the level of bancarisation is 60-70%. The fintechs active in lending help people with no credit history gain access to loans, and we want to use transactional data to provide services and offers for them.”
Olarte adds that Scotiabank executives in its Chilean, Colombian, Mexican and Peruvian businesses work with regional fintech partners. “This helps the executives learn,” she says.
“Another bonus is that Scotiabank is able to invite fintechs from Latin America to its Toronto Digital Factory to showcase their business models to them,” says Cunningham. “We’re also inviting some Israeli fintechs to come so we can introduce them to the Latin American region. We believe in cross-pollination across the continents. Fundamentally, it’s not about technology but about changing our culture to be customer-centric and borderless.”
“Like AI, blockchain offers a real and definite opportunity for us,” says Cunningham. “We want to leverage it as a rail to improve existing banking and payment processes. The blockchain can be used to reimagine many business models.”
Scotiabank has been carrying out pilots and proofs of concept of the blockchain, she says. “We’re in our third year of working in the blockchain area to demonstrate that blockchain-based payments are viable. For example, we are a member of the R3 blockchain consortium, as we believe in working with other members of the ecosystem, such as banks.”
While payments are one of the most viable use cases for the blockchain, it also has potential in closed groups like the capital markets where there are only a few network participants, Cunningham says.
“The blockchain can also be used within the organisation, for example for interconnection between different applications,” she says. “We’ve built and filed a patent for a blockchain that interconnects applications, and we have this technology in production in our Toronto Digital Factory cafeteria.
We’re testing the blockchain for payments in this cafeteria on an open-source basis, so that young developers get a feel for using the blockchain and start to imagine applications for it. Another use case is to put the blockchain on an internal ledger for moving money between branches.”
Scotiabank is also testing an internal ledger system on the blockchain for the purpose of moving money between its Canadian branches, Cunningham says.


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Instagram has announced that it will be removing the live stream shopping feature from its platform. The move comes as part of Instagram’s efforts to simplify its shopping experience for both creators and users. The live stream shopping feature allowed creators to sell products to their followers during a live stream, but Instagram has found that this feature is not widely used.
The removal of this feature will take effect from the end of July 2021. However, creators will still be able to use other shopping features on the platform, such as product tags and the shopping tab on Instagram profiles. Instagram will continue to explore new ways to enhance its shopping experience and provide users with more convenient ways to shop on the platform.
Instagram removes live streaming shopping features on 14 February 2023.
Implications to Marketers:
Marketers will need to adapt their Instagram marketing strategies as the live stream shopping feature is being removed. Instead, they can leverage other shopping features on the platform, such as product tags and the shopping tab on Instagram profiles, to showcase their products and services. This provides marketers with an opportunity to reach a wider audience and drive more sales, as Instagram continues to expand its e-commerce capabilities. The removal of the live stream shopping feature also indicates that Instagram is focusing on simplifying its shopping experience for both creators and users, so marketers can expect to see more user-friendly shopping features in the future.


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Sep 17, 2013
Sentry Electric proudly announces that the SDAS-LED Downtown luminaire has been selected for inclusion in the 2013 IES Progress Report. The Progress Report recognizes products that significantly contribute to the art and science of lighting.
Aug 07, 2013
Sentry Electric, one of North America’s most experienced and knowledgeable manufacturers of outdoor luminaires, proudly introduces the SDAS-LED Downtown luminaire.
May 13, 2013
Sentry Electric proudly announces that BUILDINGS Magazine has selected the company’s LED Bollard family as a top 2013 Money-Saving Product.
Mar 21, 2013
Sentry Electric’s Product Innovation Award winning product, the Central Park LED luminaire, evokes the historical theme of New York’s famed Central Park while delivering the benefits associated with solid state lighting technology.
Feb 13, 2013
Sentry Electric announced that Building Operating Management Magazine has selected the company’s LED bollards as a recipient of its 2013 Top Product Award. The LED bollards were featured in the magazine’s January 2013 edition.
Nov 16, 2012
Sentry Electric, one of North America’s most experienced and knowledgeable manufacturers of outdoor lighting, has provided Sacred Heart Academy of Hempstead, NY with LED luminaires and bollards for its entire campus.
Sep 05, 2012
Sentry Electric, one of North America’s most experienced and knowledgeable manufacturers of outdoor lighting, is pleased to announce that eighteen products within the Tulip Series category are now DesignLights™ Consortium (DLC) qualified.
Jul 12, 2012
Sentry Electric will be showcasing several new LED luminaire solutions at The LED Show 2012 in Las Vegas, NV on July 31 through August 1.
May 23, 2012
Sentry Electric, one of the world’s most experienced manufacturers of outdoor lighting, has extended its broad offering of decorative luminaires with a new lamp/ballast combination that helps to reduce the luminaire’s total cost of ownership.
Oct 05, 2011
FREEPORT, NY, October 3, 2011 – When the production team of HBO’s Boardwalk Empire television series needed to replicate vintage luminaires and lampposts from the 1920’s Atlantic City boardwalk, they turned to Sentry Electric for the answers.


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The Agricultural Retailers Association changed chairmanships of the organization during last week’s annual meeting in New Orleans. Outgoing chairman Gary Farrell (pictured left) of Ag Enterprise Supply passed the gavel on to the new Chairman, Dave DuFault of Simplot.
Farrell says that during his term he is most proud of the formation of the ResponsibleAg program, as well as the opening up of communication between the ag retail community and the USDA-NRCS. [wpaudio url=”http://www.zimmcomm.biz/ara/ara-14-farrell.mp3″ text=”Interview with Gary Farrell, Ag Enterprise Supply”]
In the coming year, DuFault says ARA will continue to move forward with the ResponsibleAg program that has just kicked so that retailers can now get registered via the website. He also intends to keep the communications momentum moving. “How do we take what we’re doing and just not keep it within our industry but also take it outside our industry to create a better image of what we do everyday,” said DuFault. [wpaudio url=”http://www.zimmcomm.biz/ara/ara-14-dufault.mp3″ text=”Interview with Dave DuFault of Simplot, ARA Chair”]


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Panasonic will close its lithium-ion battery factory in Beijing, China, resulting in 1,300 job cuts.
The plant manufactures batteries for simple mobile phones and digital cameras, which are facing stiff competition from sophisticated smartphones.
Panasonic spokeswoman Yayoi Watanabe was quoted by Reuters as saying: "The global market for these products has been shrinking."
Watanabe said employees were informed of the closure in late July.
Panasonic took over the factory from Sanyo Electric, which it acquired in 2010. The acquisition has, however, hurt the Japanese firm’s growth prospects due to competition from South Korean manufacturers.
The closure of the plant is part of Panasonic’s plans to focus on electric car batteries instead of consumer electronics such as plasma TVs and smartphones, where it faces tough competition from its rivals.
Panasonic recently said it would invest about $499.83m in its automotive business, which includes manufacturing lithium-ion batteries for Tesla Motors.
The company is due to assume 30% to 40% of the cost of Tesla’s $5bn Gigafactory facility in Nevada, US.


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Servotech, a Delhi-based EV tech company, has bagged an order for 1,500 fast EV chargers from Hindustan Petroleum Corporation Limited (HPCL). HPCL has invested around Rs 102 crore for the manufacturing, supplying and installing DC EV chargers nationwide, prioritizing HPCL's retail outlets.
In addition, Servotech will also manufacture and supply chargers to OEMs for electric vehicle chargers. The instalment will include two charger capacities: 60 kW and 120 kW. The Delhi-based company has supplied 4,000 EV chargers across the country and recently received an order from BPCL to install around 1,800 DC EV chargers with a project worth Rs 120 crore.
Speaking on the occasion, Sarika Bhatia, Director, Servotech Power Systems Ltd. said, “We are honored to be part of the electric mobility revolution in India along with HPCL. We are confident that our vehicle DC fast chargers are of high quality and technologically advanced.” Advanced electric vehicles will help create electric mobility touchpoints, optimize transactions, improve availability, simplify discovery and facilitate mobility for electric vehicle users.
Also Read: Mahindra five-door Thar to be launched in Q2 FY 2025


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Lion makes maiden dairy pitch; focus on market share
Japanese-owned Lion wants everyone to know about the category killers in its Australian dairy and drinks portfolio.
In its maiden pitch to potential buyers - emblazoned with Deutsche Bank branding - Lion pitched the portfolio as "Australia's most iconic dairy and beverage brands with inherent nutritional value", according to a two page teaser document sent to potential buyers last Wednesday.
The flyer was typically light on financial detail, but had plenty of juicy details on Lion's brands and their respective market shares.
Tyrekickers were told Lion's Dare and Farmers Union were No.1 in milk-based beverages with 49 per cent of the market, while Lion also had 31 per cent of Australia's specialty cheese market via its South Cape, King Island Dairy and Tasmanian Heritage brands.
The flyer said Lion's yoghurt brand Yoplait also had 27 per cent of its market.
The teaser document was designed to formally launch the $1.5 billion-odd sale, which came after a rapid-fire strategic review. The teaser confirmed Deutsche Bank would run a two-stage auction, and added that Greenhill & Co had been hired as independent adviser.
It is understood tyrekickers have separately been told to expect formal and much more detailed sale documents, including the information memorandum, by the end of this month. Sources said Lion's bankers had already started signing parties to non-disclosure agreements, paving the way for the release of confidential information including detailed earnings information and financial forecasts.
Lion's bankers should have a pretty good idea who will be interested by now.
Australian dairy is a small world, and it is pretty obvious which players are on the lookout to beef up their portfolios and which ones, like Lion, are on the way out.
Canada's Saputo - which bought Warrnambool Cheese & Butter Factory in 2014 and Murray Goulburn last year - is taking an early look and is expected to be one of the lead contenders when bids hit Lion's camp in coming months. Street Talk can reveal Saputo has hired Moelis Australia for financial advice, re-linking with the firm that has helped build its local portfolio including Warrnambool.
Coca-Cola Amatil is also lining up for the auction. It's believed the Australian bottler is expected to team up with its American parent - global drinks giant The Coca-Cola Company - in assessing the potential acquisition. The Coca-Cola entities did the same when they agreed to buy kombucha maker Organic & Raw Trading Co, which has the MOJO brand, in September. On that occasion, TCCC's Australian franchisee Coca-Cola Amatil was expected to take over the company's local sales and distribution while the US parent owns the actual brand.
ASX-listed energy play Australis Oil & Gas is seeking to raise $30.5 million in a placement of new shares at 35¢.
EY has appointed a new government and health sciences leader.
Here's another one for the leveraged finance teams.
There are a bunch of fresh faces in front of Incitec Pivot's directors and senior executives, after the industrial explosives, chemicals and fertilisers maker made changes to its house banker line up.
Private equity-backed fast food business Craveable Brands is taking two potential suitors through due diligence and has its bankers on hand to navigate a deal.


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Shoplifting has increased by up to 20% over the past year, according to market estimates
Retail theft in Russia has increased by nearly a third over the past year, which has put pressure on large supermarket chains, the news outlet Shoppers reports, citing market players.
Store theft rose by about 18-20% in 2022, and the same growth rate is expected this year, according to security experts.
Roughly 130 thefts per store were recorded between February and April of this year, representing an 18% increase compared to the same period a year earlier, the outlet said, citing a company developing face identification systems.
About 1.5-2% of revenue lost due to theft is considered acceptable in food retail, while in the non-food segment this figure stands at 1%, market experts say.
However, this ratio has reached as high as 3-5% at some grocery stores this year, the CEO of the security firm Infoline, Ivan Fedyakov, noted. The uptick in shoplifting has been particularly noticeable in small towns. It is therefore increasingly commonplace to see anti-theft protection on expensive cheese, alcohol, and other goods, he added.
Western retailers have also been sounding the alarm over shoplifting as the cost-of-living crisis eats away at household incomes. Spiraling inflation and surging living costs – from shelf prices at grocery stores to power bills and mortgages – will drive up crime, experts predict.
The US retail chain Target has reported that damage related to lost or stolen inventory has reached staggering levels and will hit its profitability by $500 million this year.
Earlier Bloomberg reported that New York City, “the epicenter of the retail market” in the US, according to Mayor Eric Adams, saw a 45% increase in retail theft complaints in 2022.
For more stories on economy & finance visit RT’s business section
RT Business News Read More


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Electric vehicles may lack the “vrooming” engine sounds that have attracted many to become car fans over the years, but they can still be enjoyable to look at and fun to drive, according to automakers and tuning companies that gathered near Tokyo for a three-day event targeting Japanese car lovers.
Nissan Motor unveiled a sports car model of the Ariya, its electric sport utility vehicle, at the annual Tokyo Auto Salon on January 12.
The new model seeks to lure fans with its strong acceleration and stability, achieved by raising the peak output of the motor by 10% compared to the basic Ariya. It is also equipped with tires, wheels and other parts exclusively developed for sports car models, which produce smoother driving performance.
The three-day event showcased race cars and modified vehicles and is one of the largest custom car and car-related product exhibitions in the world. Over 370 automotive companies showed their products to 230,000 participants from January 12–14.
For fans drawn to conventional fossil fuel-powered cars for their unique features and as playgrounds for self-expression through customization, the charm of the EV, which relies on heavy batteries and thus faces technological constraints in design, is still largely a mystery. The automotive industry is trying to change that as it comes under increasing pressure to sell more battery-powered cars in the face of climate change.
At the event, Nissan showcased its electric racing car slated to compete in Formula E, a motorsport championship for electric cars. Car races act as a laboratory for automakers to refine their technology by competing under extreme conditions. Nissan is applying expertise obtained through participating in Formula E in its development of mass-produced EVs.
The upcoming race in March will be held in Japan for the first time. It will be an opportunity to appeal to Japanese car fans with the unique excitement of the new form of motorsports, which is “more sustainable” as it does not emit carbon, according to a Nissan engineer engaged in developing the race car.
“The focus of Formula E is not as much on how fast you can finish like in Formula One but is more strategic, because you only have a limited amount of power stored in the batteries,” he said.
The race can also take place in urban areas without much disturbance due to the absence of “vrooming” engine sounds. “I hope people will discover that the unique sounds motors make can also be quite exciting,” the engineer told Nikkei Asia at the company’s booth.
Hyundai Mobility Japan, the Japanese arm of South Korea’s Hyundai Motor, also appeared at the event for the first time with a sports car model of its flagship EV, the Ioniq 5, and a concept EV equipped with prototypes of tuning parts exclusively being developed to enhance the driving experience of high-performance EVs. The company uses lightweight automobile parts so drivers can control the wheels at will despite the weight of the batteries.
“By entering into the emerging EV market, we want to set the standard of performance EVs,” Joon Park, vice president of Hyundai’s N Brand Management Group, told reporters at the event on January 12. The company hopes to show “how we can enjoy tuning culture in our EVs,” he said.
“Tuning cars usually refers to hardware parts, but in the case of EVs, there’s more space to explore customization through developing auto software, as they’re more compatible,” a Hyundai staffer told Nikkei Asia.
Toyota Motor’s booth showcased a special sports car edition of the battery-powered RZ 450e developed under its Lexus luxury brand.
Autobacs Seven, a Japanese retailer of car parts and accessories, presented tuned versions of EVs by China’s BYD, South Korea’s Hyundai and Tesla of the US.
It was the first time the company had electric cars at its booth, the retailer’s spokesperson told Nikkei Asia. “Regardless of how the car is powered, the demand for making one’s cars original and personal will always be there. We wanted to show that we will respond to the EV shift and continue to satisfy those demands,” he said.


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According to a report in a financial newspaper, earnings per share by China Agri-Industries Holdings Co. for the first half of 2012 were down 68 percent from last year. This was the company's poorest earnings performance since 2008. The article attributes the relatively poor performance to excess capacity in soybean-crushing.
China Agri-Industries is the Hong Kong-listed parent company of COFCO, the state-owned giant involved in all types of grain, oils, pork and other agribusiness ventures. Its gross earnings were up a robust 24 percent this year, but earnings per share were HK$ 12.43, down from HK$ 39.68 in 2011.
The strong increase in gross income reflects a big expansion of oilseed-crushing capacity. The company added 2 million metric tons of capacity this year to reach a total of 10.38 mmt in the first half of 2012. Sales of vegetable oil were up more than 10 percent this year, reaching 1.38 mmt. Sales of rapeseed meal were up 63 percent, reaching 3.17 mmt.
The article notes that industry-wide soybean crushing capacity has risen dramatically from 80 mmt in 2008 to 100 mmt in 2012. Imports of soybeans rose 41 percent during 2008-11, from 37.4 mmt to 52 mmt. The article estimates that only about half of soybean crushing capacity is utilized.
Industry people estimate that vegetable oil consumption is rising about 5 percent annually, but supply has been growing 10 percent. Minor oils like corn and rice bran oil have been growing rapidly. The article doesn't mention the phenomenon of "gutter oil." The rapid growth in supply implies heated competition and downward pressure on vegetable oil prices.
The article comments that domestic (Chinese) and foreign markets have been in a downturn this year. Edible oil consumption is not robust, prices are soft (someone tell the National Development and Reform Commission), and companies face a lot of pressure.
A COFCO spokesman says the company faces a challenging business environment during the second half of the year that will lead to a shake-out of uncompetitive capacity in the industry. Profits should improve as the peak season for edible oil and soymeal consumption arrives.


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The company announced the following three partnerships...
- Volvo Cars and Autoliv: The car manufacturer and Nvidia are partnering to develop "advanced systems and software for AI self-driving cars," according to a press release. The partnership hopes to produce production vehicles running Nvidia's Drive PX computing platform by 2021.
- ZF and HELLA: The second Nvidia announcement is aimed at safety. ZF, a large automotive supplier, and HELLA, a camera and sensor supplier, are partnering with Nvidia to develop AI technology that will score highly in the New Car Assessment Program certification. The system they are developing will be a combined hardware and software solution.
- Volkswagen: The partnership between Volkswagen and Nvidia is slightly less substantial than the other announcements. The two companies have agreed to share knowledge and data across their research divisions with the aim to accelerate Volkswagen's data lab's research in AI and deep learning automotive tech.
The company is fighting rival Intel for ownership of the space. Intel recently bought autonomous-car hardware startup Mobileye and is partnering with BMW to develop its own self-driving car technology.
Nvidia is up 47.11% this year.


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Toronto rap star #Drake announced the official lineup for his #OVOFest 2019 this week and confirmed tickets would go on sale early Friday, hyping fans up for what could be the event of the year. However, that hype quickly turned to disappointment when fans realized how much money they have to spend to see the show.
According to XXL magazine, tickets start around $383 for lawn seats and went up to $1,918 for seats closer to the stage. The prices were especially disappointing for those who were at the end of the purchase queue, as some waited up to an hour only to realize they couldn’t afford the tickets.
Twitter went in following the ticket sales and expressed their confusion on how any “regular person” would be able to afford the ticket prices imposed.
One user tweeted, “Dear Mr. Aubrey Graham, You have audacity to have me wait all this time for OVO Fest to make me try to pay rent prices to see you from the grass. Are you mad?? Best, Momo”. Another Twitter user posted, “Really sucks how Drake is doing his fans this year with these ridiculous prices. Goes to show the artist doesn’t really care about the fans, just the money… #OVOFest.”
For those of you willing to spend your life savings on #OVO Fest tickets, let the rest of us broke folks know how it went!


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Mercedes-Benz has said it will drop some of its cheaper models and focus on the more profitable luxury end of the market.
The German car maker will recast itself as “a dedicated pure-play luxury car company,” it said, in an attempt to take on rivals such as Ferrari.
Car manufacturers including Mercedes have enjoyed a period of high profits as wealthy people sitting on cash piles after two years of lockdowns look for ways to spend their money.
A shortage of parts, most notably computer chips, has prompted car makers to charge more for their vehicles, improving margins.
Last month Mercedes said revenues for the first three months of the year jumped 8pc despite selling 52,000 fewer cars as a result of higher prices, and after more of its top-end models rolled off the production line.
The company will drop the number of entry level models from seven to four and focus its efforts on high-performance AMG and limousine Maybach models, funnelling 75pc of its investment into its luxury brands.
Ola Källenius, chairman of the board of management of Mercedes-Benz, said: “What has always been the core of our brand is now also the core of our strategy: the luxury segment. We are further sharpening the focus of our business model and product portfolio in order to maximise the potential of Mercedes-Benz even in challenging conditions. At the heart of that is our goal to build the world’s most desirable cars.”
Since Ferrari floated in 2015 it has attracted a high valuation for a car company, with multiples of earnings closer to those of a luxury company.
Ferrari has a valuation of more than 30 times its 2021 profits, while Mercedes-Benz is worth a more modest four times its earnings last year.
Mercedes is also racing to electrify its fleet, with plug-in hybrids and battery-powered cars making up about an eighth of sales. The company plans to have an electric competitor in each model range this year, and will sell only electric cars from 2030.


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21 June 2013 17:42 [Source: ICIS news]
LONDON (ICIS)--The initial European methanol third-quarter contract price settlement has not yet been confirmed due to a lack of consumer support, sources said on Friday.
Numerous consumers said they could not support the statement, announced earlier this week at €390/tonne ($513/tonne), a rollover from the second quarter. The price does not address wide cost gaps between Europe and Asia, consumers said.
Consumers that export their methanol derivatives must compete with Asian counterparts, who have access to significantly cheaper feedstock. European consumers say that they face either operating at vastly reduced profit margins in order to stay competitive, or losing out on sales.
While suppliers insist that European methanol demand has not decreased, consumers say it is only a matter of time before demand erosion occurs as a result of the Europe-Asia price differential.
“With this price gap to Asia, demand won’t remain at expected levels… we are struggling. The current price [gap] is definitely not healthy,” said one European consumer.
Most consumers acknowledge that European spot prices are high and that the market is on the tight side. However, they argue that the threat of serious demand destruction as a result of uncompetitive pricing means that measures should be taken to address the imbalance between the Atlantic and Asian markets.
The current price spread between the second quarter net European contract price - assuming an average discount of 15% - and the average Chinese spot price is $85/tonne.
While the vast majority of European methanol is supplied via contracts, in China most material is sold in the spot market.
($1 = €0.76)
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Asian Chemical Connections


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Instagram Features News
Instagram is testing a new 'reshare' sticker for Stories to make users more 'intentional' about their shares
This feature might allow users to re-think before sharing any post with their friends on the platform.
Instagram starts testing video recommendations; full screen videos coming soon: Adam Mosseri
Mosseri says that Instagram currently has four key focus areas: Creators, Video, Shopping and Messaging.
Instagram rolls out 'Discovered on Reels' playlist, music stickers and Beat dance AR filter
Instagram has also rolled out a new Beat Dance AR filter in collaboration with T-series.
Instagram now lets users add pronouns to their profile, feature currently available only in a few countries
Users who have received the feature, can add up to four pronouns, which will display next to their name on the profile.
Instagram introduces ‘Remix’ feature for reels to create interactive reels alongside another
The reels made by the remix feature will have a time limit is up to 30 seconds.
Instagram rolls out new caraousel layout for Stories feature on desktop
The new design gets an option that allows users to reply directly to the stories, similar to that on the phone.
Instagram is reportedly testing a TikTok-like feature called Reels in India
Previously rolled out in Brazil, Instagram Reels will let users record 15 seconds videos and upload them as Stories.
Instagram introduces new ‘guides' tab; recommends wellness tips for coronavirus
The feature is currently limited to wellness influencers and health organisations.
Instagram now allows uploading Live videos to IGTV: Here's how it works
Instagram will now allow users to directly share the video to IGTV from within the app, once the live is over.
Instagram is testing the ability to hide specific Stories from specific people
Currently, Instagram lets you create a list of Close Friends to share Stories with a particular group of people.
Instagram will now help you kick lame feeds off your personal newsfeed
As per the redesign, you will now see two categories: most seen in feed and least interacted with.
Instagram finally lets you send Direct Messages from the web app
The Direct Messaging feature for the web has been in testing for quite a few years now.
How to use new Slo-mo, Echo and Duo boomerang effects on Instagram
You can even trim your boomerang videos as per your convenience on Instagram now.
Instagram's new Layout feature for Stories will let you post up to six images at the same time
The feature is already rolling out and should be available to all users towards the end of this week latest.
Instagram to making alliances with fact-checkers to fight off misinformation
Instagram began working with third-party allies in the US to help identify, review and label bogus posts.
Instagram will now tell you if your captions may be considered offensive
The feature is currently rolling out to users in select countries, and it will be available for everyone in the coming months.
Instagram finally requires a user to be at least 13-year-old to create an account on the platform
Based on the date of birth, Instagram will now also show "age-appropriate" ads to its users.
Instagram is reportedly working on a redesigned IGTV Feed and Explore tab
Last week, Instagram also announced that it is now globally testing making likes private on the platform.
Instagram says it is now testing hiding likes and views with select users globally
Instagram has been testing making the likes private in several countries since July this year.
Instagram to roll out a feature that will suggest who to unfollow: Report
This Instagram feature is likely to create groups called 'Least interacted with' and 'Most shown in feed.'


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In the next versions of the iPhone may receive the 3D camera.
Apple is together with LG Innotek is working to create a 3D camera for iPhone 8, reports citing .
Dual camera the new iPhone will allow you to create 3D photos. Currently, LG is already supplying dual-camera for the iPhone 7 Plus. It is worth noting also that in the spring of 2015, Apple has acquired Israeli start-LinX Computational Imaging, which specializiruetsya cameras in mobile devices, for $ 20 million.


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It seems that week after week, at least one story in the F&I Report cites rising interest rates as a headwind.
As I've written and edited such stories over the past several months, I've often asked myself, are we focusing too much on interest rates?
After all, compared with the historic levels of the early 1980s when the Federal Reserve benchmark rate climbed as high as 20 percent, interest rates aren't that high. In December, the Federal Reserve rate was a range of 2.25 to 2.5 percent, and after several years of extreme lows, rates will only go up.
But interest rate upticks are worth tracking; they are top of mind for the industry.
Many experts cite escalating interest rates as the single factor that will influence the auto finance environment most this year.
In January, the average interest rate on new-vehicle loans was 6.19 percent, the second-highest level in 10 years, according to Edmunds. That's up considerably from the average rate of 4.22 percent a year earlier. For used-vehicle loans, the average rate reached 8.88 percent, up from 7.58 percent the year earlier.
And if the Federal Reserve rate moves to a range of 2.75 to 3 percent by September, consumers will pay $6,117 on average in auto loan interest, according to Edmunds.
At the American Financial Services Association's vehicle finance conference last month, we asked experts this question: What do you expect to most affect the auto finance industry this year? We talked with leaders from banks, dealerships, auto finance technology companies, a credit bureau and an F&I product and training company. Eight of the 10 experts we asked pointed to interest rates.
Although rates remain far short of record highs, the rise is pricing some consumers out of the market. And dealers continue to adjust to the changes wrought by the jump. So we'll keep paying close attention. They're worth watching.


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MFW Madewell Fashion Fund Party
By Kim Thomas
Photo by Kim Thomas: KPFUSION
As part of this year's Memphis Fashion Week festivities, Madewell hosted the Fashion Fund Party on Thursday, March 27th. Benefiting the EMDP (Emerging Memphis Designer Project), attendees sipped on signature cocktails from Alchemy, enjoyed tunes from the stylish DJ Coolly (the Runway DJ), and most importantly, helped support the city's burgeoning fashion community while shopping the latest Spring styles from Madewell.
Local jewelry designer Lauren Carlson was also on hand with new pieces from her line, Question the Answer.
Kim Thomas is a Memphis fashion blogger, KP FUSION: Fashion. Style. Life. All wrapped up in a pretty little package.


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Nissan could build 17 of its new Juke-R 2.0 592bhp GT-R Nismo models and this makes us feel very tingly and excited!
Each model is painstakingly hand built with a racing-spec roll cage and an all-wheel drive system, much like the GT-R, as well and upgraded 592bhp VR38DETT motor.
Nissan aims to have built 23 in total, with six of the previous model already being produced, which leaves 17 yet to be built. Nissan is set to continue selling the Juke-R in the form of its new 592bhp 2.0 concept, which debuted at the Goodwood Festival of Speed, in June.
To blend together a small crossover with the now legendary R35 GT-R would seem unthinkable, no? But, the Juke-R has surprised everyone, even all the critics.
Check out how this little beast squares up against its R35 brother!


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Latest Intel Atom Stories
Asus in association with Intel and Microsoft has launched its new netbook, Eee PC 1000H powered by Intel Atom processor.
As Internet access continues to be added to all kinds of computers and devices, Intel executives outlined a plan to use its chip design expertise, factory capacity, advanced manufacturing techniques and the economics of Moore's Law to usher in a new category of highly integrated, purpose-built and Web-savvy System on Chip (SoC) designs and products.
COLUMBIA, Md., July 24 /PRNewswire/ -- Eurotech Inc., a leading provider of application-ready embedded computer systems for low power and high performance applications, announces today the launch of the Eurotech A3pci8024.
By Matt Richtel The personal computer industry is poised to sell tens of millions of small, energy-efficient Internet-centric devices. Curiously, some of the biggest companies in the business consider this bad news.
Fujitsu has announced plans to enter the low-cost handheld PC market with the launch of the first model in China, Hong Kong, and Singapore priced at $500 to $700. It plans to enter the Japanese market by March 2010.
By Laurie J. Flynn Finally, some good news for Wall Street.
By Mike Rogoway, The Oregonian, Portland, Ore. Jul.
By Brandon Bailey, San Jose Mercury News, Calif. Jul. 15--Intel's profits rose 25 percent in its second quarter, the company said today, while announcing that revenue grew 9 percent to $9.5 billion.
From mainframes to minicomputers and then personal computers, each new computing generation has displaced its predecessor by reaching a broader audience and costing far less. And each time, the dominant company in one generation loses control in the next.
AMBLER, Pa., June 20 /PRNewswire/ -- MEN Micro Inc., a world-renowned provider of embedded computing and I/O solutions for demanding industrial, mobile and harsh environment applications, now offers a fanless, intelligent display computer that is both rugged and maintenance-free.
The Ariel Atom is a high performance sports car manufactured by the Ariel Motor Company from Crewkerne, Somerset, England. There have been five models produced as road legal vehicles: the Ariel Atom, Ariel Atom 2, Ariel Atom 3, Ariel Atom 3.5, and the Ariel Atom 500 V8. There were also Limited Editions manufactured: the Ariel Atom 3 Mugen Limited Edition, with only ten produced, and the Ariel Atom 500 V8 Limited Edition, with only 25 to be produced. Current production models are the Atom 3.5...
- The act of sweetening by admixture of some saccharine substance.


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Call of Duty: Warzone Mobile has only been out in the wild for a day, but some fixes for issues in the game have already been deployed.
Activision has now announced a number of problems that have already been addressed, such as server issues and performance, crashing due to too many vehicles spawning, and other performance-related problems.
“Thank you to everyone who’s jumped in and played Call of Duty: Warzone Mobile already!” Activision said through the official Warzone Mobile Twitter/X account. “We couldn’t be more thrilled to get it into your hands, but our work isn’t over yet. In fact, it’s just the beginning. We’re already working hard toward bringing you the best experience possible by identifying and rolling out fixes.”
The company also revealed a big list of issues discovered and fixes in progress, including tuning adjustments for armor and health values to increase the time-to-kill, re-enabling the ability to rejoin an ongoing game, and the re-introduction of enemy outlines in the HUD, which were recently disabled to improve server performance.
But despite the game’s exciting launch that brings the return of classic BR map Verdansk for gamers everywhere to play while on the go, all that anyone seems to be talking about is controllers.
The debate raged in the replies to the X (formerly Twitter) post, with some players asking for more controller settings options and many others lamenting the fact that controller players match up with those on touch controls. Most feel that controllers are making games uneven, with one person going so far as saying: “Players with controllers are everywhere and killing the game.”
The decision to pool controller players with touch control players is deliberate, albeit not a final one, according to the company, and could change with time and feedback.
“Also note that at worldwide launch, players using native touch controls, or any type of controller, will be matchmade together in the same pool of recruits,” Activision said in a March 8 blog post about controller options. “As the game evolves, we will evaluate balancing player matchmaking pools by native touch and controllers, as well as, potentially implementing different rules for control playstyles in competitive play.”
Warzone Mobile is available now for Android and iOS devices worldwide.


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Franklin, a company offering tax-compliant hybrid crypto and cash payroll solutions for businesses, has raised $2.9 million in a seed funding round led by gumi Cryptos Capital and CMT Digital.
Franklin offers hybrid crypto and cash payroll services compliant with tax regulations for businesses and startups. It has secured $2.9 million in seed funding. The funding round was led by gumi Cryptos Capital (gCC) and CMT Digital, with participation from investors including Arca, Sfermion, Portage, and Synergis Capital.
Catering to small and medium-sized businesses, Franklin’s payroll software allows employers to pay their staff using cryptocurrencies. In addition to the funding announcement, the company revealed that its software now seamlessly integrates with QuickBooks.
Founder and CEO Megan Knab explained that Franklin aims to provide a flexible payroll solution with a combination of cash and crypto options. The company addresses the administrative challenges often faced by web3 native teams regarding tax form generation, compliance, and accounting.
Franklin’s customers primarily use stablecoins for transactions and crypto payments for employee bonuses. The platform also offers batched transactions, multicurrency options, and automated tax filings. Moreover, Franklin can process transactions in U.S. dollars within two business days.
Its platform adheres to the various rules for paying employees in crypto in the United States, considering the regulations on a state-by-state basis. Megan Knab, who has experience as a crypto accountant and former VP of finance at web3 marketing agency Serotonin, founded Franklin in the spring of 2023.
Franklin is the second company to emerge from Serotonin’s product studio, following Mojito, an NFT commerce platform that launched in 2021. Serotonin claims that Mojito has generated over $120 million in sales for clients like Sotheby’s, CAA, Pace Gallery, Lyrical Lemonade, and the Milwaukee Bucks.
Amanda Cassatt, Serotonin co-founder and CEO, mentioned that many Serotonin service clients naturally transition to Mojito or Franklin. Franklin’s pricing model remains undisclosed, but Knab assured that it is in line with existing web2 payroll platforms like Gusto and Justworks.
Notable angel investors in Franklin’s seed round include Sapphire Ventures’ VP Jason Brooke and Associate Iladro Sauls. The company plans to extend its services by introducing crypto-integrated retirement savings accounts and health benefits, as well as compatibility with other layer 2 blockchains.


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While the symptoms of this flu are similar to other flu symptoms, the H3N2 virus is a global problem.
This is because the H3N2 virus can cause serious complications like pneumonia that require intensive hospital care and neglect can lead to death.
According to the US CDC, this virus spreads to humans more easily than other influenza viruses. As viruses keep changing, it might become easier for these H3N2 viruses to spread easily from person to person.
“Studies conducted by CDC and others have shown that children born after 2001 (age ≤ 9 years in 2010) have little to no immunity to H3N2v virus. Adults appear to have more immunity, perhaps because they have previously been exposed to similar viruses throughout their lives,” says the US CDC.
H3N2 Virus: Can Your COVID Vaccines Protect You From Serious Infection?
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It was reported last week that Indonesia is confident that the electric vehicle (EV) maker Tesla is looking into investing in Indonesia to manufacture materials for EV batteries. And if Tesla were to follow through with the reported manufacturing plans, Indonesia would be one step ahead of Malaysia where Tesla has no manufacturing plans for the time being.
During an exclusive interview with prime minister Datuk Seri Anwar Ibrahim during The CNBC Conversation last weekend, CNBC news anchor Martin Soong asked if Malaysia is planning to further expand its supply chain to compete against Indonesia. The prime minister responded to the matter, saying that Malaysia can complement the EV maker as Malaysia itself produces batteries.
When asked if it is part of the American EV maker’s next plan to develop a supply chain in Malaysia, Datuk Seri Anwar Ibrahim said, “The understanding is to buy our batteries. It is cheaper and is produced locally… Why should they (Tesla) bring (EV) batteries from all over the world?”
The prime minister then added, saying, “It is a bit too premature for me to commit if whether they are doing it, but what is important is we do have the capacity to produce parts of a battery that is required in the cars.”
A question regarding the possibility of foreign investors such as Tesla holding 100% equity in Malaysia was also raised during the interview. As a response, Datuk Seri Anwar Ibrahim replied saying that having Tesla come in and benefit three or four local industries is just as good as putting a 20 or 30% equity, as it can help generate potential economic returns down the line.
He also added that this is similar to the Geely–Proton collaboration, where Malaysia plays a role as an assembly hub and spare parts supplier. The prime minister said that the country is also open to the idea of producing spare parts for SpaceX, for example.
Soong mentioned the matter of Indonesia going down a very similar route with the Tesla investment and has a grand plan for Tesla’s supply chain. This will include battery mining, manufacturing, and assembly, all the way to the possibility of exporting batteries out of the country.
And when asked if it is Malaysia’s plan to compete against Indonesia in EV development, Datuk Seri Anwar Ibrahim quoted, “I think instead of being in a game of fierce competition, we should be able to complement each other, and that has been the spirit of my series of conversation with President Joko Widodo.”


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- A lady, Jessica Ayodele, has revealed that organising her wedding in the country gulped the sum of KSh 5 million
- Breaking down the cost of things, she said they paid KSh 342,474 to photographers and almost KSh 622,680 for decorations (trad and white) among others
- Netizens who reacted to her post were scared of how much they would have to invest in their wedding ceremonies
A lady, Jessica Ayoedele went online on Saturday, October 1, to reveal that she and her husband spent KSh 5 million on their beautiful wedding.
The lady said on Twitter that when they were planning their wedding back in April, she thought they would not be spending more than KSh 1.3 million for just 100 guests.
Honeymoon cost KSh 778, 350
Jessica said that getting a hall in Lagos is expensive as mainland halls start from KSh 249, 072 for 200 guests to KSh 1.3 million for 1000 guests.
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She added that they spent KSh 373, 608 and KSh 202,371 for decorations for their white and traditional weddings respectively.
The sum of KSh 342,474 was spent on their photoshoots and videos. Drinks cost them KSh 498,144. For their honeymoon, they spent KSh 778, 351. Jessica advised people to do what works for them.
See her post below:
Below are some of the reactions:
"My own is in all things, u choose to pay photographers Mrs Jessica....una no rate us at all, forgetting that it's our work that creates documents."
"This is the reason I settled for only Traditional and Court. Did my intro on Friday evening, wedding on Saturday 2pm (cuz I couldn’t get a chairman in time), finished at 4pm. Then dance, dance, dance. I spent <= 1M naira (hotels for Hubbyz fam, wedding list things inclusive)."
"Civil servant go tey for street ooooooo."
"Once I spend this money on my wedding and it ends, I’ll padlock door and your people will have to negotiate ransom with me."
Lucy Natasha, Prophet Carmel go for grand honeymoon
The two alighted from their flight rocking matching black outfits and seemed to be in high spirits.
Carmel had previously said he wants to start a family with Natasha and plans on having five children.
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The funds, General Catalyst Group V and General Catalyst Group V Supplemental, amount to a 78% increase over the firm’s previous fund, a $400 million vehicle raised in 2005.
The Cambridge, Mass.-based firm was founded in 2000 and invests in information technology companies across stages. It has yet to take a startup public, according to Thomson Financial (publisher of PE Week).
General Catalyst has sold four of the 76 companies it has backed during its seven-year history. It sold instant messaging security company IMlogic, which had raised $33.75 million, to Symantec for $90.7 million in 2005. It sold financial advising service UPromise, which had raised $118 million, to Sallie Mae for an undisclosed amount in 2006. It sold travel planner Away.com to Orbitz for an undisclosed amount. And it sold two-way radio communications company Smartlink Radio Networks, which had raised $27 million, to CalAmp Corp. in March for $8 million.
Massachusetts-based venture firms have raised $4.5 billion so far this year. Other large funds raised in the Bay State this year include the seventh fund of


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NEW DELHI: Starting May 2012, all old computers and electronic equipment will have to be disposed off to authorized collection centres that would deal with electronic waste (e-waste).
Though the government had put up the e-waste (management and handling) rules in 2010, they have been notified recently. The problem of e-waste has turned serious, thanks to increased use of computers in the country.
In 2007, the country generated 330,000 tonnes of e-waste — equivalent of 110 million laptops, says an industry report. The volumes of e-waste generation is rising sharply every year. About 10% of this e-waste is recycled, and the rest are refurbished.
The waste contains chemicals that are polluting nature and at times even toxic. The handling of e-waste has also gained importance, with the country becoming a hub for imports along with China.
The new rules require consumers to dispose off their old computers, TVs, refrigerators and other electronic waste with recognized collection centers that will be set up. The bulk consumers — corporate and other large units — will also have to maintain records of disposal of e-waste.
The companies selling electronic goods too will be responsible for ensuring that their products do not end up in the grey market once their shelf life is over.
But, implementation of the rule could prove tricky: a large percentage of computer market in India is dependent on assembled grey market, and usually the recycling occurs in small labour intensive units in towns like Moradabad or localities like Seelampur in the national Capital.
The already under-staffed and relatively defunct-state pollution control boards would be in-charge of monitoring the e-waste trade. The challenge is bound to increase, with the country's export-import policy allowing the import of e-waste in one garb or the other.


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Class III Price Now Highest Since 2014
The USDA reported the July Class III milk price at $17.55, up $1.28 from June prices and up $3.45 from July 2018. Class IV prices almost broke the $17 ceiling, landing at $16.90 up 7 cents from June and $2.76 from a year ago. The Class III price is at its highest level since December 2014.
Fueling the price increase was a jump in components. Cheese prices took a nice jump, landing at $1.8238 per pound which is up from $1.6910 in June and up considerably from July 2018 when the price was $1.4868 per pound. The price for protein also increased, moving from $2.0046 in June to $2.4032 in July. Butter and butterfat prices were up slightly.
Prices have increased steadily throughout 2019, fueled by stagnant milk production and relatively consistent domestic and global demand. Cow numbers have fallen considerably, while production per cow has only seen modest increases.
Economists predict the strong price trend to continue throughout 2019 as production continues to stall and demand grows as the Holiday season arrives.
Wed, 07/31/2019 – 16:56
The price of milk is at its highest point since 2014.
Farm Journal Media
Source: Dairy Herd


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LONDON–(BUSINESS WIRE)–Infiniti Research, a leading market intelligence solutions provider, has recently announced the completion of its latest success story on market scanning and monitoring solution. This success story highlights how Infiniti’s market scanning and monitoring solution helped a biodegradable food packaging market client to increase efficiency within the supply chain, deliver better customer experiences, improve shipment productivity, and lower costs.
Although the global biodegradable food packaging market is witnessing a surge in production, the industry is not completely free of challenges. Rising need for new manufacturing techniques, legal complexities, increasing manufacturing costs, and supply chain hurdles are some of the major factors that could impede the growth of the biodegradable food packaging market. Besides, poor communication between food packaging supply chain partners and traceability issues are expected to hinder the market growth in the years to come. As such, companies in the biodegradable food packaging market are in the need to focus on reducing costs and increasing manufacturing efficiency.
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Business impact of the market scanning and monitoring analysis for the biodegradable food packaging company
- Leveraged radio frequency identification (RFID) and GPS technology recommended by the experts to track products throughout the entire product life cycle
- Monitored customer data, in-store turnover statistics, market trends, and other vital customer feedback to streamline the supply chain and deliver better customer experience
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- Leveraged AR technology and streamlined various processes within the supply chain, speeding-up production and delivery
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Fossil improved just about every nagging hardware issue with the Gen 6, crafting a beautiful smartwatch with great battery life. Wear OS 2 still holds the hardware back, though, and that makes it more difficult to appreciate the improvements Fossil has made.
We're all tired of Google internally testing smartwatches and then never releasing one. The Pixel ecosystem is prime for a smartwatch and now that Wear OS got some much-needed attention, so is the software. Do it now Google.
The elephant in the room for nearly all smartwatches in 2021 is the lack of Wear OS 3. But despite that, the TicWatch Pro 3 Ultra is a fantastic watch that makes solid improvements over its predecessor. Plus, it'll get Wear OS 3 in 2022.
Smartwatches can be a useful tool for adults and kids alike. However, when it comes to kids there are a few more caveats. Finding the watch with the features and privacy you want can be tough, but here we've done the work for you.
The Galaxy Watch 4 continues to prove to be the smoothest and most capable Android smartwatch to date, but the app experience is still lagging. My father golfed with my Galaxy Watch 4, and it only highlighted the divide.
Samsung is bringing instant conversations to the Galaxy Watch 4 lineup with the WalkieTalkie app. If you're ready to start chatting with friends and fellow Galaxy Watch 4 users, come on in, and let's get you going.
The Samsung Galaxy Watch 4 classic is bringing a lot of new with its release, from the new Wear OS 3 to the new health sensors. But does all of that add up to say you should give up the fantastic Galaxy Watch 3 for it, perhaps.
The Samsung Galaxy Watch 4 series was announced and, for the most part, received much fanfare. I was among those cheering it on, but since the dust has settled and I spent the last two weeks with it — I need to be honest — it's been a letdown for me.
Fossil has recently pushed a new update to its Gen 5 smartwatches that stripped away dozens of watch faces. The removal decreased the original number of watch face options available to users by more than half.


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Maruti Domestic Sales Up 6.88%
Maruti Suzuki India Ltd (MSIL), car market leader, has announced a growth of 6.88 percent in its domestic car sales during December 2007.
The company sold 58,401 units in the domestic market, as compared to 54,640 units in the same period of the last year.
The company also said that, in all, it sold 62,515 vehicles during December 2007 which showed an increase of 10 percent from 56,985 vehicles sold in the December 2006.
During the same period, MSIL exported 4,114 units as compared to 2,345 units in Dec 2006.
In the A2 section, the company reported a minor sale growth of 2.89% at 39,575 units compared to 38,461 units in the same month last year.
In the MUV segment comprising Gypsy and Grand Vitara, the company announced a massive growth of 29.58 percent in sales during the month at 311 units.


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DETROIT (June 7, 2001)—Busy with the Firestone tire replacement campaign it initiated, Ford Motor Co. said it has not yet made plans for how it will re-source original equipment contracts previously supplied by Bridgeston/Firestone Inc.
However, competitive tire makers say they are in discussions with Ford to handle not only replacements for the recall, but also OE production for the auto maker.
Re-sourcing of those contracts likely will depend on when each agreement was entered into, a spokeswoman for Bridgestone/Firestone Inc. (BFS) said. “Right now we're reviewing them to find out when they expire.”
BFS told Ford in a letter May 21 that it would honor its existing tire supply contracts with the car maker but take on no new business in the Americas.
“We haven't had any discussions with Firestone yet (on its decision to sever OE ties); we haven't even had any internal discussions,” Ford President Jacques Nasser said following the company's May 22 announcement of its latest recall.
“A combination of slower growth in the U.S. and markets around the world, combined with a downturn in new vehicle markets, suggests that there is going to be adequate capacity and these guys can further entrench their business with Ford,” said Richard Henderson, vice president of investment research at the Pershing Division of Donaldson, Lufkin & Jenrette in Jersey City, N.J.
Continental Tire North America Inc. does have additional capacity to produce some of the tires Ford will need, a spokeswoman for the German-owned tire maker said. “But currently we are exploring all our capabilities, and further discussions with Ford Motor Co. will allow us to, in detail, determine which tires and how many tires we will supply to Ford.”
Tom Roydhouse, Conti Tire's vice president of sales and marketing, told Tire Business “Ford's first focus is on the replacement of these (latest) recalled tires, but then there will be an obvious shift to see what they're going to do from an OE standpoint.”
He believes Conti is “better prepared” for the current recall, “not only from a production standpoint, but how we manage it. Last year's recall opened up a whole new can of worms—that many tires at one point: How do you manage it? How do you try to take care of, as fairly as possible, as many of your dealers as you can?”
The tire maker finally “got pretty good at it about halfway through the recall,” he said. “At least we now have a direction to follow that works for us in coordinating our production logistics....”
A Goodyear spokesman said that like the rest of the tire industry, the firm has extra capacity and is “willing to discuss (Ford's) needs to come up with a beneficial arrangement.”
Goodyear and Michelin North America Inc. are the likely beneficiaries of the breakup, said Rod Lache of Deutsche Banc. Alex. Brown Inc. “Both companies have already experienced significant market share gains this year; a second recall would likely reinforce this trend,” he said. During the first quarter, Goodyear-brand sales increased 4 percent from year-ago levels, while Michelin-brand sales jumped 11.6 percent.
Both Michelin and Conti confirmed they are in talks with Ford on the subject of supplying OE tires.
Michelin's current tire mix is 80-percent replacement and 20-percent OE. “We don't see any changes to that at this time,” a Michelin spokeswoman said. Although aftermarket margins are higher than those in the OE market, most tire makers are intent upon working closely with car makers so they can make gains on the replacement side.
Re-sourcing of Ford's OE contracts with BFS could take 12 to 18 months, Mr. Lache said.
Original equipment tire profits on the BFS business could go up as Ford is pressed to replace those fitments, said Efraim Levy, an analyst with Standard & Poor's in New York. “I think the situation with Ford gives the tire makers, for a change, a teeny bit of leverage, especially if it's a fast change.”
Pricing in the North American replacement tire market also could benefit if Firestone loses a significant portion of its 8-percent market share, Mr. Lache said. “Over the past 20 years returns in the tire industry have remained low, largely because industry overcapacity has kept a lid on pricing.”
He estimates total North American tire demand last year was about 360 million units, but manufacturing capacity was close to 420 million tires. If BFS, with an estimated annual capacity of 70 million tires, “significantly” reduced its presence in the North American market and if raw material prices decreased, material improvements could become evident in the industry's supply/demand relationship resulting in an improved pricing environment, Mr. Lache said.
“The thing to keep in mind is that these (OE agreements with Ford) aren't all going to end at once,” the spokeswoman for BFS said. “We will be keeping our contractual agreements with Ford, and I think our hope is that as they start to expire, we're hoping to build the business elsewhere, in both OE and replacement.”
Ms. Begin writes for Automotive News. Tire Business Managing Editor Sigmund J. Mikolajczyk also contributed to this report.


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Another one of world’s best known brands to enter Georgian market. Starbucks will be opening its first store in Georgia in late 2018. Starbucks is American coffee company and coffeehouse chain that has been operating since 1971 and was founded in Seattle Washington.
Starbucks is one of many international companies that have opened its branch in Georgia, H&M, Palais De Thes, Hard Rock Café are among those who have opened branches in Georgia in latest years.
Shaya Turkey operates Starbucks in Azerbaijan and Turkey and will be the one to open the franchise in Georgia too.