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The Savigny Luxury Index Review – July 2010
Pierre Mallevays, former Head of M&A at LVMH and Managing Partner of Savigny Partners LLP, a London-based boutique advisory firm, analyses market trajectories and valuations of benchmark firms through the firm’s signature index
A mood of cautious optimism in Q1…
The Savigny Luxury Index posted a solid overall gain of 22.4% since the beginning of the year, outperforming the MSCI World index by 19 percentage points. The overall sentiment was that the sector is on the rebound, with Bain forecasting a four percent rise in sales for the sector for 2010. Q1 results posted by our universe of companies showed both strong sales and profit growth. Nevertheless the overriding message was one of cautious optimism with some of the sales growth in Q1 being attributed to retailers restocking depleted inventories. Some concerns were raised as to whether LVMH powerful Q1 growth, which sent its share to a 10-year high, would be sustainable for the whole year.
… consolidated into very strong prospects for the sector
Signs of improved prospects for the sector continued to come out of company and sector announcements. Swiss watch exports posted a healthy increase in June, and Hermès lifted its full year sales growth target on the back of surprisingly strong Q2 figures released on 20 July (27% growth for the quarter or 20% at constant exchange rates). The overall view is that more good news is to come, underpinned by strong demand in emerging markets, especially China, and by the recovery of demand in the USA, which should continue to prop up wholesale channels. LVMH recently released half year results confirmed the trend, beating estimates with a 16% growth for the first semester.
Has the Aegean brew poisoned the equity well?
The Greek sovereign debt crisis which unfolded at the end of April sent global markets into turmoil. The SLI was not immune and went into a tumble, losing eight percent of its value from end-April to mid-May. The respite of the rescue package announced at the beginning of May was short-lived, with the fear of Aegean contagion to other markets such as Spain and Portugal resulting in another dip in early June. Whilst July saw both a strong recovery in the MSCI World index (+ 4.8%) and the SLI (+ 9.6%), there are lots of frayed nerves as a result of this macro-economic uncertainty. The luxury sector is setting sail again but the Aegean tidal wave continues to rock the fragile boat of recovery – the sails have been hoisted but will the boat capsize?
1. Share prices as at 1 August 2010
2. Sales growth: year-on-year change using latest annuals and consensus estimates for current year
3. P/E multiples: historical based on either Dec. 09 or Mar. 10 EPS; current based on Dec. 10 or Mar. 11 EPS depending on company year-end
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When Sir Alec Issigonis designed the Mini for the British Motor Corporation back in 1959, little did he know he would be creating one of the world’s most iconic automobiles. But that’s what the vehicle has become, starting humbly as an automobile that was intended to be an affordable, economical runabout and eventually charting its own path as a symbol of pop culture.
But the Mini’s story is a two-part tale that also involved the input of racer and race-car designer John Cooper, who, with his own talents and skills, elevated the automobile into a certifiable motorsport legend. Cooper single-handedly turned the Mini into a contender in the realm of auto racing, culminating in three historic wins at the Monte Carlo Rally in the mid-1960s.
That indomitable spirit of the Mini today continues with the current crop of cars manufactured under the BMW Group. It still retains its position as a fashion and trendsetter in the realm of automobiles. It has also retained its position as a vehicle that boasts impeccable driving characteristics, predominantly its legendary go-kart-like handling. As such it is not surprising to find the Mini continuing to lead the pack in the compact premium car category, a feat it has managed for the past two decades.
THE MINI EXPERIENCE
In order to showcase the capabilities of the iconic model, BMW Group Malaysia organised its Mini Track Day 2020 at the
Sepang International Circuit. The event brought together fans of the brand and driving enthusiasts for an afternoon of passion-driven fun on track, driven exclusively by a range of flagship Mini models.
The setting was part automotive playground and part showcase with several models on display as well as current generation models produced by the BMW Group. Guests were also given a rare opportunity to get up-close and personal with the classic Mini JCW. Also taking centre stage was the latest model offering in Malaysia, the new Mini Countryman Blackheath Edition.
The limited-edition dramatic all-black design Mini Countryman variant, reminiscent of the stunningly dark shrub land of Blackheath, South East London in the United Kingdom, took centre stage welcoming guests that evening. Limited to only 48 units and featuring an evocative blacked-out suit, it remains a stunning a first-ever special edition of the second generation Mini Countryman.
Amidst the models on display were informative displays highlighting the historic milestones of the model. “Passion is synonymous with Mini, and it has earned that reputation by imparting more than just passion-fuelled drives for the past 60 years but also by playing a significant role in ensuring that passion translates safely on the road,” explained Sashi Ambi, BMW Group Malaysia’s head of corporate communications.
The Mini Track Day 2020 unveiled the best qualities of the brand, specifically its iconic and timeless presence, superior and signature drive as well as handling. In order to demonstrate the capabilities of the car, the event served up a range of thrilling activities, which allowed participants to demonstrate and put their driving skills to the test during the Mini John Cooper Works (JCW) Track Experience and Mini Driving Experience.
Drivers went behind the wheel of some of Mini’s most powerful JCW models including the new Mini JCW Countryman 306HP and the new Mini JCW Clubman 306HP, as well as their 3- and 5-door counterparts – offering concentrated power with motor racing genes.
As guests, we were given the exclusive opportunity to take several allocated vehicles on the racetrack to experience for ourselves the pure performance and signature go-kart feeling that Mini is known for through the decades. Additionally, the Driving Experience also showed drivers how they can get the most out of a Mini in terms of safety, performance and driving fun.
This included experienced high-speed handbrake turns, further underlining the great handling of the Mini vehicles, complete with state-of-the-art technology, modern levels of safety, quality and reliability. Most importantly, drivers expanded their driving skills and gained knowledge about correct vehicle handling and driving in critical situations, behind the wheel of one of the world’s most coveted and appealing models.

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There are some cult products and shades that a beauty buff is willing to buy in bulk, and one of those is Illamasqua’s Nail Varnish in Raindrops. The sheer finish and slight shimmer has become the most covetable color from the UK-based
After making a splash at Barneys over the holidays last year, Minnie Mouse is once again having a fashion-beauty moment.
The Disney darling is being teased as Love magazine’s cover girl for its Sweetie issue styled by Miuccia Prada in
Ramp up your midi ring collection, store the nail polish. Chanel's Creative Director of Makeup, Peter Philips, just made a drastic statement on the couture runway in Paris when it comes to accessories and manicures.
Over the seasons,
Kate Moss might be baring it all with Playboy soon, but in the meantime, she's showing off the sunny side of summer with one of the hottest nail trends this season on the cover of Allure Korea.
While bright pops of color are almost
1. naughty nautical
This brilliant blue-green shimmer is poised and provocative, just like you. Hop aboard your ship after matching your teal tips to your chic boat bag and have a “naughty nautical” good time.
Mar y Sol Montserrat
After almost a year of silence, a new hire has reaffirmed Christian Louboutin’s plan to march into beauty – red soles and all.
The Daily reported Tenten Wu, former global director of PR and media at Belvedere Vodka, has been named


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Volvo is making strong efforts in developing autonomous cars. The Swedish brand is already making huge steps in securing the life of its passengers. And in the future will do even more. Volvo and Baidu, the leading Chinese internet search provider, will jointly develop electric and fully autonomous drive-compatible cars with the aim of mass producing them for China, the largest car market in the world.
Volvo Cars is the first foreign car maker to collaborate this closely with Baidu to jointly develop customised autonomous driving cars. The partnership will allow both companies to develop and sell these vehicles to potential Chinese customers.
Volvo Cars and Baidu will pool resources to take the next step and prepare for mass manufacturing of fully electric and autonomous cars, according to the agreement. The collaboration with Baidu is Volvo Cars’ first of this kind in China, and Volvo Cars was deliberately chosen as a partner by Baidu because of its long-standing safety credentials.
Based on the collaboration agreement, Baidu will contribute with its Apollo autonomous driving platform. Volvo will provide access to its expertise and advanced technologies of the car industry.
Industry forecasts show that China is likely to become the single largest market for autonomous cars in the world in the coming decades. Around 14.5 million autonomous cars will be sold in China by 2040, on a total global volume of around 33 million.


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Stocks rallied today despite a slew of poor economic reports as investors instead focused on falling rates in the credit markets, MarketWatch reports. Though the Dow was up 11.3% for the week, October ended as the worst month since 1987. The Dow rose 144.32 to close at 9,325.01, the Nasdaq climbed 22.43 to 1,720.95, and the S&P gained 14.66 to 968.75.
US consumer purchases fell 0.3% in September, the biggest decline in 4 years. The Reuters/University of Michigan index of consumer sentiment fell a record amount this month, and an index of economic activity in the Chicago area hit its lowest level since May. But the overnight Libor rate fell to 0.40% from 0.73% yesterday, far below the Federal Reserve’s target of 1%, and the 3-month overnight rate dropped to 3.026% from 3.1925%.
- For the month, the Dow declined 14.1%, the Nasdaq fell 17.7%, and the S&P 500 sank 16.9%
(Read more Dow Jones


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An American couple are planning an exotic December wedding in Thailand complete with elephants, fireworks and dancers.
But they aren’t going to pay for it.
Instead Courtney McKenzie and her fiancé Jamil want their wedding to be funded by corporate sponsors.
The couple are willing to have logos imprinted on the wedding dress, the groom’s tux and even an elephant they’ll be riding after the ceremony.
On their website, sponsorourwedding.com, they write: “We will be hashtagging, tweeting and instagramming our way through Thailand to our over 30,000 combined social media followers and we want to include some of our favorite brands on our adventure.
“Sponsor Our Wedding sponsorships provide a channel to boost your corporate brand and include your company as an active participant in our “Wedding With A Cause.”
The couple plan to donate a percentage of the money to charity, but also have a goal of $30,000 (£18,100).
They announced their decision on Facebook earlier this month, getting more than 41,000 ‘likes’.
Jamil and Courtney McKenzie
But McKenzie told Cosmpolitan: “I've gotten a lot of emails saying, 'This is so tacky,' 'How can you put a logo on your wedding dress?' 'Your daughter will never be able to wear your dress.’ It stings a bit. But we feel good about doing it. And it'll be a fun story to tell our kids."
Companies can pay between $500 and $5,000 to sponsor various parts of the wedding, including having logos sewn onto the bride’s honeymoon bikini and her wedding bouquet.
McKenzie, an entrepreneur and digital media consultant, came up with the idea after deciding it would more adventurous than having a typical traditional wedding.
She has now decided to set up a platform to help other brides follow her path and pay for their weddings with sponsorship.


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Call it love at first sip: I was smitten with Paso Robles, CA – a city gaining more and more notoriety for the wines it produces – almost instantly. This past October, I was sent to explore Paso and write a feature for TravelSquire.com. What I discovered is summed up in this excerpt from my story:
It seems you can’t talk to anyone in this city without hearing the word “growth” –both in the wine industry and beyond. Paso Robles’ American Viticultural Area (AVA) has grown to include more than 180 bonded wineries, a five-fold increase over the past decade. The restaurants, hotels and attractions have followed, and are luring visitors and new residents alike.
Read the full article at http://www.travelsquire.com/destinations/united-states-of-america/item/478-paso-robles


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I had the privilege of growing up with parents who expected us to speak properly. They knew–even though neither finished college–that command of the language would be the key to our success. And they were right: all six of us have done well and we have Steve and Glenna to thank for it.
Yesterday, I got a WordPress ‘recommendation’ from another blogger who wrote an incredible essay on texting, asking the provocative question, “Is Texting Ruining our Language?” Well…let’s start with the observation that the word ‘texting’ didn’t even exist 10 years ago. We can thank smartphones, Twitter and other short-form messaging apps for that! But back to the essay, Kate Wiles wrote an awesome piece about it, which you can read here. It’s a bit long, but well worth the read.
Enjoy! At the end, you, too, may well be SMH!
The insatiable demand for iPads rears its ugly head in China. Geeez…I wonder what the net cost of the product is, considering its retail price ($499 per unit, and up)?? A May 22 article on the blog “Mashable” brings up an interesting question: Would you be willing to pay a hundred bucks more (or so) if you knew the workers weren’t driven to such lengths that they commit suicide? No? Didn’t think so.
According to the article, Apple’s inspection team visited and “fully” inspected the buildings, production lines and “especially the workers’ dormitories.” Afterwards, Apple deemed the plant “approved” for manufacturing iPads. DISCLAIMER: I don’t begrudge Steve Jobs and all of Apple for making a profit, but at $335 a share (Friday’s close), You’d think they’d pay more attention to the manner in which their equipment is made.


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Lisa Mann, a former CPG marketer who recently joined an executive search firm, joins to discuss CMO hiring trends and look at how the role is changing—in some cases for the worse.
When Karuna Rawal got a call from a recruiter about a marketing gig at a startup using a microbe to make protein-packed, animal-free food, she was intrigued. The lifelong vegetarian joined the company, now called Nature's Fynd, as its chief marketing officer and first marketing hire. Now, she and her Chicago-based team are just starting to get the company's name out in the world while preparing to launch its first products ...
Ad Age spoke with Penry Price, LinkedIn’s VP of global sales, to understand how the site managed through the crises that have hit all industries. The pandemic affected digital advertising as sectors like travel pulled back on spending while other industries pulled ads temporarily to make them more appropriate for the national mood.
In a time period when there seems to be little cause for optimism, Ad Age spoke with Omnicom Media Group CEO Scott Hagedorn on where he sees bright spots starting to emerge within his agency and the industry overall.
Oscar Martinez, Senior Brand Director of Tecate, joins the pod to talk about the brand’s marketing overhaul, which includes a move away from boxing and into music. We break down the brew’s “Mexico is in US” campaign that emphasizes the brand’s border-town heritage while seeking to appeal to drinkers who are unapologetically Mexican-American.
Curtis Hougland, the founder and CEO of communications and strategy shop Main Street One, explains the social and political science behind voter/consumer persuasion, and why the time is right for campaigns and brands to leverage older (55+) influencers.
4A's Executive VP of Government Relations Alison Pepper discusses how she and other industry organizations fought a 3 percent tax on advertising services and the sale of “personal information" proposed by The Washington, D.C. City Council as part of a plan to combat a growing budget deficit, and won. She says the fight isn't over though.
Pernod Ricard North America CEO Ann Mukherjee describes why the liquor marketer will resume social media spending after pausing it in July. The longtime marketer also describes what it’s like moving into the CEO job, and she explains her leadership style, which involves bringing your personal experiences to the job.
Christopher Carroll, director of digital engagement and marketing for the International Olympic Committee, joins the pod to talk about how the IOC is going about plugging the Tokyo games, which were delayed by a year due to the pandemic.
Ad lawyer Linda Goldstein joins to discuss what brands need to know about sponsorship contract changes during COVID-19, new ‘Made in the USA,’ ad regulations and what to expect at the FTC if Democrats take over. Plus, she explains how ad lawyers can co-exist with creatives.
The author of “Black on Madison Avenue” talks about what it was like getting a job in advertising 40 years ago and how much the industry has failed to change since that time.
Former LatinWorks chief creative Sergio Alcocer joins to talk about his 3-year-old cultural marketing shop Rest of the World and give his take on how brands and agencies should respond to new calls for diversity. He weighs in on other topics, like his love of jazz music and how he would rebrand the Catholic Church.
Justin Billingsley has one hell of a Lego set.
Publicis Groupe’s first global chief marketing officer used the famed building blocks in an analogy during the Ad Age Ad Lib podcast to explain how the holding company’s Power of One works for clients. Billingsley said that for client Mercedes-Benz the company constructed a shop, Publicis Emil, composed of 650 people in 39 countries customized specifically to the automaker’s needs.
Julie Tucker, global marketing director for the Associated Press, on the news wire service’s new marketing and what separates it from the ‘Truth’ campaign she oversaw at The New York Times. We also discuss newsroom diversity and how the AP is preparing for the 2020 election. Plus, Tucker explains why she left agency life behind.
Portland Maine’s Via agency CEO talks about the moral renaissance, directing a commercial with Jim Perdue via iPhone, her Catholic school education and the disco ball in her home.
Allyson Witherspoon, VP of marketing communications and media at Nissan North America, on how the automaker responded in the early days of the coronavirus outbreak and what it is doing now to restore buyer confidence. She also weighs in on online car-buying and why she thinks it’s here to stay. Plus, she shares management tips she learned while working in Japan.
Anush Prabhu, chief strategy officer at Mediacom, talks about the new—and often contrasting—behaviors that have come about since COVID, and how smart marketers should navigate them as the world opens up.
Greg Butler, chief commercial officer at Cresco Labs, explains how the cannabis firm has pivoted during COVID-19, which has forced the firm to rely more on digital and less on retail and experiential activations that had been critical components of cannabis marketing. The former Molson Coors marketer also discusses Cresco’s strategy on taking a brand portfolio approach with each offering geared for a specific set of consumers.
Goodby, Silverstein & Partners’ Chief Creative Officer Margaret Johnson explains how the agency has created more than 30 campaigns for 80 percent of its clients remotely--and how working from home has opened up new avenues of inspiration.
Longtime agency exec Sarah Hofstetter joins to talk about her new role as president of e-commerce analytics firm Profitero, which serves more than 4,000 clients. We discuss the coronavirus-induced e-commerce surge and whether or not it’s sustainable. She also talks about her career journey and why she took this job after previous stints at 360i and Comscore. And, Sarah shares some personal tips on how to stay calm during the pandem...


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Alibaba partners with Bolloré to tackle innovation
As part of the partnership, the groups will look for opportunities for cooperation with their respective logistics capabilities, hubs and networks, and share industry best practices.
Additionally, the groups are looking to co-develop solutions for internet-connected electric cars and buses that could potentially implement voice control, multimedia, navigation and autonomous driving, as well as opportunities in car-sharing solutions in China.
Terry von Bibra, Alibaba Group’s general manager for europe, said “we are extremely pleased to kick off this collaboration with a prominent player across key industries like Bolloré Group.”
“As a global technology company, digital transformation and innovation in all fields are fundamental drivers of Alibaba’s mission of making it easy to do business anywhere, with the ultimate goal of better servicing our customers and stakeholders worldwide, today and tomorrow.”
Simon Hu, senior vice president of Alibaba Group and president of Alibaba Cloud noted the partnership was an exciting step toward Alibaba Cloud’s goal to “empower our customers with our inclusive and cutting-edge technology.
“We are proud to bring our cloud computing, big data and AI technology to the Bolloré Group and support their vision of being the pioneers in digital transformation.”
Alibaba Cloud, the computing arm of Alibaba Group, will provide its suite of solutions to the Bolloré Group, which will be combined with its knowledge and strengths to create joint value propositions.
Cyrille Bolloré, vice chairman and managing director of Bolloré Group, said he was delighted to have the partnership agreement concluded, and was looking forward to working with Alibaba Group.
“The many areas of cooperation and several joint projects already identified by our respective teams are particularly promising,” said Bolloré.
“We are also very pleased by our common willingness to share best practice and expertise that will be of strong benefit to all our companies.”
The worst case scenario for many retailers came to fruition on Monday afternoon, when Victorian Premier Daniel Andr… https://t.co/zyRB162Yip4 days ago
Retail in Melbourne to be forced to close from 11:59pm this Wednesday. Contactless click-and-collect and online del… https://t.co/8um79lnp764 days ago


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IRVING, Texas—7-Eleven continues to expand its footprint along with ways it can provide convenience to its customers. First on the list of updates are plans for three new stores in Manhattan with a combined space of more than 8,000 square feet, according to Real Estate Weekly.
The Irving, Texas-based retailer has leased three new locations, including a 3,471-square-foot space on Eighth Avenue, 2,800 square feet on Sixth Avenue and 2,800 square feet on Church Street.
“They are leveraging the opportunity to find new locations that in some cases may not have been available to them prior to the pandemic,” said Scott Sher of Katz & Associates, the national leasing agent that helped locate the sites. “7-Eleven realizes that New York City will be back to business as usual in the near future, so they are wisely making moves to ensure their long-term success in what is, in ‘normal’ times, the best retail market in the country.”
In addition to the expansion in the Big Apple, 7-Eleven has expanded its contact-free, fuel loyalty program to include fuel pumps in Baltimore, according to Baltimore.CBSlocal.com.
As NACS Daily reported in June, the contactless technology lets customers pay for fuel with mobile payment options or Siri shortcuts—including voice commands—using the Apple iPhone. As a bonus, app users will receive a discount of 11 cents per gallon on the first seven fill-ups on all fuel grades. After that, they receive a discount of three cents per gallon on all fuel grades (limitations apply). The per-gallon discount automatically shows on the pump display.


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Atelier Nature launches the brand Explor Games®.
Where can Explor’Games® be played? https://explorgames.com/
Atelier Nature, expert in gamification and designer of mobile applications to discover tourist sites in a new light, is developing its product range and positioning by combining its innovations under the Explor Games® brand.
This strategic move highlights the fact that Atelier Nature is focussed on putting user-experience at the very heart of its development. Thus, more than simply rebranding their line, this launch is the outward expression of the profound changes that have enabled Atelier Nature to design a unique concept and offers to promote and discover tourist sites.
In concrete terms, Atelier Nature is seeking to make its positioning more visible and to group its activities and games under a single umbrella brand that encapsulates the company’s DNA.
Charles DUMOULIN, founder of Atelier Nature says “The launch of this brand comes after two years of in-depth work to extend our offer and create new standards, in comparison to existing products. Focused on the user experience, our solutions ensure their experience is like no other when they discover a site. The purpose of the new brand name is to quickly highlight a user promise and set the course for our future development.”


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Flight Simulator – Azure AI
Microsoft showed off an update to a title they haven’t updated since 2006 at this year’s Electronic Entertainment Expo (E3). It was a surprise for sure, but the game itself wasn’t the most interesting part. Microsoft showed off running footage of their new release of Flight Simulator.
While Flight Simulator doesn’t often get a huge shout out from the gaming crowd, I think technologists may have taken more notice this time around.
The areas in which you can fly from and too are incredibly detailed, building rise out of the ground, cities look just like their real-time counterparts, and you can fly over elephants and giraffes in the plains of Africa.
Microsoft stated that during the detailed imaging is generated from 2 petabytes of data (2,000 gigabytes). That’s a lot of data, much more than would ever fit on even the highest end gaming PC, and certainly not on the Xbox that the game is also slated to come out for next year.
Microsoft is utilizing Azure AI in the development of the game. It will be very interesting to follow the development and release of this, because I am expecting that some of that data and some of the images included in the game, may even be streaming, in real-time, from Azure. The ability for a developer to utilize the cloud to build bigger and more incredible games by utilizing the cloud is eye-opening and exciting. It makes me wonder what’s next.


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In 2006, Thomas and his colleague Lord Clement Jones, a managing partner at DLA Piper law firm and a senior member of the House of Lords, led the first trade delegation to Kurdistan since the fall of former Iraqi dictator Saddam Hussein.
ERBIL, Kurdistan Region -- A British trade delegation visited Erbil this week, apparently unbothered by the fact their initial flight was cancelled six weeks ago due to ISIS violence in the region.
“None of us are concerned by the current situation,” Michael Thomas, leader of the Pathfinder Middle East Trade Mission, told Rudaw.
“We are sure that the Kurdistan government is able to overcome all the obstacles – which are pretty serious,” he added.
With the Kurdistan region's economy on hiatus, Thomas said there was an opportunity for Kurdistan to consolidate its development and re-evaluate economic strategy.
“It's not a bad thing to stop and think and consolidate,” he said.
After a prolonged period of growth and development in the region, economic growth contracted five percent in 2014, according to a February World Bank report.
Lack of funds from Baghdad, the cost of the war against ISIS, and supporting over 1.5 million displaced people, have had a negative impact on the economy, with thousands of development projects coming to a halt.
“However, we're looking well beyond this war,” Thomas said.
Thomas believes the key to a stable independent Kurdish economy, and eventual state, is developing transportation.
“If you get transport sorted, you get freedom,” Thomas said. “All efficient economies need good transport links.”
He said this was particularly true for the landlocked Kurdistan region.“It's obvious that Kurdistan's location is tremendously important as a trade hub in the region,” he said.
“If you got a first-class road and rail route out through Turkey to Europe that could really change everything, including the dynamics of trade.”
British companies would like help develop this transportation, Thomas said, including one of the companies on the delegation.
The six British companies that visited are specialized in fields ranging from financing, development and procurement, to training and education.
The delegation was a UK private sector initiative supported by the Kurdistan Regional Government, which believes that delegations like these play a vital role in strengthening trade and investment relations with the UK.
Nawal Karim, director of Trade and Investment Relations at the KRG UK Representation, said: “Many delegates on these missions have either won contracts from the KRG directly or formed joint-ventures with Kurdistani companies.”
She said the trade missions have “contributed to raising awareness of Kurdistan as a vibrant destination to do business among the private sector, influenced the opening of a British visa center and increasing UK Trade and Investment representatives in Erbil.”
The current delegation also reached an agreement with the Erbil Chamber of Commerce to stage a business conference in the KRG capital.


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Banks to start taking the euro into account
Britain's banks are finally preparing their customers for the start of the new European currency, the euro.
They are planning a range of bank accounts, credit cards and loans that operate in euros, even though the UK is staying out of the currency for the foreseeable future.
Next week, Citibank will launch a euro current account, complete with an overdraft facility and debit cards.
Cater Allen bank already offers a euro credit card and Abbey National is promising mortgages in euros.
Eleven nations, including France, Germany, Spain and Ireland, will link their currencies to the euro from January 1999. In each case, the country's own currency will continue alongside the euro for three years, after which the euro will become the sole currency.
The euro products offered by UK banks are aimed at frequent travellers, expatriates, those with property overseas, or those with family connections in the euro nations.
About a million UK citizens fall into one of these categories. Some companies in the City will soon be paying their staff in euros.
Amanda Iremonger, who heads Citibank's euro project, says: 'We have already had a great deal of interest in euro banking facilities from our customers.
Half of them travel to Europe six times or more a year, for business or pleasure.
'A euro account will be very useful to them because they will have to think in terms of only one currency for most European destinations.'
Customers will be able to manage the Citibank euro account via the Internet from wherever they happen to be.
Euro interest rates are expected to be lower than UK interest rates.
This may make it attractive for UK residents to borrow in euros for debts outside the UK, such as an overseas property.
But the pound will still fluctuate against the euro. So anyone borrowing in euros for a debt that they have to meet from an income in sterling could find that the debt increases if the pound falls against the euro.
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Jewellery brand Pandora has revealed plans to expand its global manufacturing capacity with a DKK 1 billion (£115 million) investment amid a host of other changes as part of its recently announced financial goals for the coming two years.
The company, headquartered in Copenhagen, revealed that the majority of its new manufacturing facilities will be built in Vietnam.
This comes as part of an announcement concerning its ‘Phoenix’ strategy. The plan is aimed at giving Pandora sustainable and profitable revenue growth after a difficult few years for the brand.
Pandora targets organic growth of 5-7% CAGR during 2021-2023. Total revenue growth CAGR is expected to be 6-8%, lifting revenue to DKK 24.8-26.2 billon (£2.86-3.02 billion) in 2023.
Meanwhile the company hopes that its EBIT margin will increase to 25-27% in 2023.
It is also increasing its share buyback program by DKK 3 billion (£346 million).
Alexander Lacik, President and CEO of Pandora, said: “We are very pleased to confirm that Pandora is back on the growth track.
“We have vast untapped opportunities in our existing core business and they will drive long-term sustainable and profitable growth.
“Our objective is to be the largest and most desirable brand in the affordable jewellery market. And we have a strong foundation to deliver on that objective.”


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Digital identity startup Cambridge Blockchain is opening a new office in Paris.
The Massachusetts-based firm is setting up shop at at a startup campus founded by Partech Ventures, which invested in Cambridge Blockchain's $2 million funding round earlier this year.
That the startup would move to establish a more solid presence in Europe is perhaps unsurprising. Cambridge Blockchain has looked to the financial sector as the primary market for its digital identity solutions, with a particular focus on Europe.
In May, Cambridge Blockchain announced that it was working with LuxTrust, a major digital identity firm backed by the government of Luxembourg, on a new blockchain-powered platform. That relationship with Luxembourg is deepening, as Cambridge Blockchain today said that it was joining the Infrachain initiative, a nonprofit group formed earlier this year by a number of companies with the backing of the country's government.
Other members include LuxTrust and professional services firms KPMG and Deloitte, among others. With Cambridge Blockchain's inclusion, that effort has now expanded beyond Luxembourg.
"Thanks to the support of Partech Ventures and Infrachain, we are positioned to tackle the banking industry’s greatest threat: the cost of regulatory compliance," Matthew Commons, Cambridge Blockchain's CEO, said in a statement.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Cambridge Blockchain.
Map image via Shutterstock
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SAN JOSE, Calif. — Sun Microsystems
Monday took the wraps off its long awaited UltraSPARC IV processor (code-named Jaguar – no relationship to Apple computer’s OS).
The fourth-generation chip is made up off two UltraSPARC-III cores (code-named Cheetah) and includes on-chip tags for 8 MBs of off-chip 2-way set-associative Level 2 cache per core. Company execs with the Santa Clara, Calif.-based concern say the new chip has the potential to double the throughput of Sun’s existing high-end and mid-range systems when it hits the market in the first half of 2004.
The chips are expected to go head-to-head with IBM’s Power series of chips as well as Intel’s Itanium family and Hewlett-Packard’s PA-RISC processors. Sun is showing off its latest RISC
“We’re excited to see Sun taking aggressive steps to reinvent and redefine server processor performance and challenge the industry with this daring move,” In-Stat/MDR senior analyst Kevin Krewell said. “Sun is once again taking up the role of innovator and is showing it will not allow Intel’s Itanium juggernaut to roll over it.”
One advantage Sun says it has is that each thread will be to make use of the available L2 bandwidth. Other shared interfaces on the UltraSPARC IV processor include an on-chip memory controller supporting up to 16 GBs of DRAM, and a system interface unit providing access to the Sun Fireplane interconnect fabric.
The new chips are part of Sun’s “Throughput Computing” strategy, which the company acquired from Afara Websystems last year. At the heart of this new strategy is Chip Multithreading (CMT), a design concept that allows the processor to execute tens of threads simultaneously. The first generation of Throughput, such as the UltraSPARC IV family of processors, will enhance current UltraSPARC III system throughput, initially by up to 2 times, and later by up to 3 to 4 times the current levels. In the future, Sun says it will be rolling out a more radical CMT design, which will first appear in Sun’s Blade platform in 2006, that will increase the throughput of today’s UltraSPARC IIIi systems by up to 15 times.
As it has for the past 15 years, Sun turned to Texas Instruments
to produce the chip. Built using current 130-nanometer (nm) process technology, the UltraSPARC IV is expected to run at initial speeds of 1.2 GHz. As an added bonus, Sun says the chips are pin-compatible with its UltraSPARC III brethren and do not need a board replacement for upgrading existing systems. A 90nm UltraSPARC IV is expected to debut sometime between 2005 and 2006. Dallas-based TI says it should be able to produce 45nm chips as early as 2008.
TI says it has an advantage over IBM’s and Intel’s fabs in that its CMOS
Since their relationship began in 1988, Sun and TI have designed and built six generations of SPARC processors and several industry firsts, including the first 64-bit microprocessor produced using 130nm.
“This symbiotic relationship has allowed both companies to focus their energy on what they do best,” said Sun executive vice president Dr. David Yen. For TI, it is developing and manufacturing state-of-the-art process technology and for Sun, it is designing and marketing cutting-edge processors.”
For example, Yen says TI is able to apply its learnings in 64-bit manufacturing to the development of high-speed I/O ASICs, digital signal processors (DSPs) and DSP-based product lines. All the while, Sun says it can focus on design without having to build and maintain silicon wafer fabrication facilities.
Sun’s two other Throughput Computing chips include the dual-core Gemini chip, which is sampling now at 1GHz and 1.2GHz and the eight-core Niagara processor earmarked for entry and midrange servers using 90nm and due out as early as 2005.
The company is hoping the Throughput Computing initiative will ignite more interest in its products in the midst of some uncertain times.
Earlier this month, Sun reported it would have to write down a charge for more than $1 billion for its fiscal fourth quarter. The alert to investors prompted a warning from analyst firm Merrill Lynch to ‘cut and focus’ or be acquired.


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All the Offaly properties going up for sale at BidX1 auction this week
A number of Offaly properties are set to go under the virtual hammer of the BidX1 online auction house on October 12. Start the virtual tour of all of them below:
BidX1 is a pioneering online auction facility that allows people to bid on a host of properties around the country in real-time on their website every month.
The property at the head of this article is 16 Westwood Grove, Clara, Co. Offaly, R35 TN96. It has a reserve price of €130,000.


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New STS cranes and RTGs for Khalifa Port
Abu Dhabi Terminals has announced that Khalifa Port Container Terminal is ready for the next phase of expansion and that new equipment will be added in 2016 and 2017 to keep up with demand for services.
Three additional Ship-to-Shore (STS) gantry cranes and 10 Automated Rail Mounted Gantry (ARMG) cranes will be installed in 2016.
Khalifa Port Port, Abu Dhabi’s main container port, is currently on 78% of its handling capacity and the next two years will see Abu Dhabi Terminals enhancing its operational readiness through infrastructural development to meet the expected growth of the local and regional industry.
Abu Dhabi Terminals said 2015 has proven to be another good year for the company with a total of 1.48 million teu forecast to have been handled at Khalifa Port Container Terminal in 2015, up from 1.14 million in 2014.
It is anticipated that 2016 will see moderate growth of 10% with the port operator handling an expected 1.62 million teu containers.
By 2020, the first phase of Khalifa Port Container Terminal will be at maximum capacity – 2.5 million teu containers – and subsequently the second part of the port island will be commissioned, taking the capacity to 5 million teu annually.
“Khalifa Port Container Terminal is now firmly on the world map as a key logistics hub which has been achieved through becoming an industry partner for our customers, as well as demonstrating that Khalifa Port offers a cost-effective, fast and reliable alternative to regional ports,” said Martijn van de Linde, Abu Dhabi Terminals’ Chief Executive Officer.
“We have also significantly developed our network, going from an initial five to a current 50 international destinations,” he added.
“Through collaboration and diversification of our services, Abu Dhabi Terminals maintains its mission to innovate constantly, and continue our growth momentum through to 2020 when the next phase of the port island will be handed over,” Linde said.
In three years of operation, traffic through Khalifa Port Container Terminal has grown at the fastest pace of any container terminal in the Middle East, experiencing double-digit yearly growth and doubling the volume of containers handled.
Abu Dhabi Terminals has made significant investments in a polymer packing plant and 2.3 million sq.ft. of warehousing inside the port, offering value-added supply chain services and increasing speed and reliability for shipping lines and trade customers.


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Travel to and from South Africa is increasingly opening up following its official exit last week from the third wave of COVID-19 and the move to lockdown level 1.
As the tourism industry waits with bated breath for an official announcement from the UK that it has been removed from the red list, the US Centers for Disease Control and Prevention (CDC) yesterday (October 4) moved South Africa from risk alert Level 4 (Very High Risk) to Level 3 (High Risk).
This risk-level rating recommends travel for those US citizens who have been fully vaccinated.
In reaction to the news, CEO of SATSA, David Frost, told Tourism Update that even before this welcome news, members of the inbound travel association had confirmed high interest and demand for South Africa from the US.
“With the move to Level 3, we anticipate even greater demand, based on what we are seeing from other markets which have removed or eased their restrictions to South Africa,” he said.
Tourism Update also understands from readers that, as the US has never required quarantine on arrival from South Africa, it has also made it easier for inbound travellers from the States.
Vice President of Dragonfly Africa, Yolanda Woeke, told Tourism Update in a recent interview that she agreed the US market had been resilient and that there continued to be high demand for travel to SA.
“We have accommodated many of our clients on flights via the Middle East. But this is not ideal,” she said.
Will the UK ease its restrictions?
Frost said he expected the UK to remove restrictions for travel to SA this week. “We anticipate once that announcement is made it will open the door for that pent-up demand from our top source market to visit South Africa.
“It is a lobby we have been working on since May and we are grateful to our tourism industry for keeping the faith and supporting us throughout.”


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Marking a milestone: celebrating 10 years of REV Birmingham!
Filed Under: Front Page, Potential-Proving, Uncategorized, Yaysayers
TODAY IS THE DAY! REV Birmingham is celebrating 10 years of creating vibrant commercial districts in the City of Birmingham. Today is all about celebrating the past decade of success and all that we have accomplished. It all started ten years ago when two organizations – Operation New Birmingham and Main Street Birmingham – merged to create the one and only REV Birmingham. We have covered so much ground since then, from historic building rehab consulting all the way to our refresh of 20th Street North – and we are looking forward to seeing what the future holds for us here at REV.
Celebrating some of our favorite projects over the past 10 years of REV Birmingham!
Filed Under: Business-Proving, Front Page, Uncategorized, Yaysayers
REV is turning TEN! Our birthday is swiftly approaching (it’s on November 15th in case you want to give us a happy birthday shoutout!) and we are spending the week leading up to it reflecting on the past 10 years. We have accomplished so much in just a decade, and we can’t wait to see what the next 10 years have in store for us. But for now, let’s take a trip down memory lane and look back at some of our favorite projects.
In town for the Magic City Classic? Here's a guide to all the must-see spots!
Filed Under: Birmingham Food & Drink, Downtown Birmingham, Events, Front Page, Uncategorized
The Magic City Classic is coming to town! It’s almost time for one of our favorite events and we hope you’re as excited as we are. Alabama A&M University and Alabama State University will battle it out at Legion Field on Saturday October 29, 2022 at 2:30 PM. Since so many folks will be traveling into the Magic City for the Classic, we figured we would put together a little guide on all the things to see while you’re here! There is so much to do, we know it can get overwhelming – so if you don’t know where to start just keep reading and we’ll guide you through our city. Here we go!
Fall weather calls for another Woodlawn Street Market! Who's ready for October's vendor roll call?
Filed Under: Front Page, Small Business, Woodlawn, Woodlawn Street Market
The Fall weather is in full swing and there’s no better time for another Woodlawn Street Market! The October Woodlawn Street Market will be on October 15, 2022 from 10 AM – 4 PM. Come out and enjoy all the delicious treats and unique creations that our vendors have worked oh so hard to create for you. Now for the moment you’ve all been waiting for – let’s get into our vendor roll call! Keep reading to check out which vendors will be featured at this month’s market. We hope to see you there!
The Big Pitch contestants: where are they now?
Filed Under: Big Pitch, Front Page, Small Business, Uncategorized
If you’ve been following REV for a while, you probably remember The Big Pitch Competitions we used to hold back in the day. The Big Pitch presented by PNC was essentially our own little version of Shark Tank. And a lot of your favorite local businesses that participated in this competition now have active retail storefronts that you can go check out. Let’s start with some of our finalists that are based in the City of Birmingham and see what they’ve been up to!
Downtown Birmingham's latest development is proof that small buildings can have big impacts too!
Filed Under: Developer, Downtown Birmingham, Filling Vacant Spaces, Front Page, Potential-Proving, Uncategorized
Have you been to Downtown Birmingham’s newest development located on 25th Street? If not, you need to head down there ASAP and check it out! This new single story development is a product of a collaboration between David Baker Architects (DBA) and Locke General Contractors, led by DBA’s very own Amanda Loper. It is intended to be a “collaborative commercial space in a catalyst development area of Birmingham.” Both DBA and Locke General Contractors will be tenants of the space, along with June Coffee Roasters, Zephyr Barber, and Last Call Baking Cooperative!
The music scene in downtown Birmingham is booming!
Filed Under: Downtown Birmingham, Events, Front Page, Uncategorized
One of Birmingham’s many hidden treasures is the music scene downtown. The sheer volume of concert venues we have in downtown Birmingham is something most people aren’t even aware of – but it really is remarkable! There is truly something for everyone, whether you’re into the smaller, more intimate venues or the large-scale venues for those big name artists. Keep reading to check out some of the cool venues downtown Birmingham has to offer.
Woodlawn is thriving with new businesses!
Filed Under: Front Page, Small Business, Uncategorized, Woodlawn
We’re so excited to welcome yet another new business to the Woodlawn Community! Thrive Wellness Lounge is a plant-based health and wellness store in the heart of Woodlawn owned by Tish Fletcher (a veteran Woodlawn Street Market vendor – whoop whoop)! You can swing by and check out Woodlawn’s newest addition on Tuesday – Saturday from 11:00 a.m. – 5:30 p.m. It’s always a good time to support a female, black-owned local business! We talked to Tish a little bit more about her journey to opening her very own brick and mortar store. Keep reading to learn more!
Rev Birmingham wins 4 Main Street Alabama awards for 2021 projects
Filed Under: Front Page, Yaysayers
Main Street Alabama recently celebrated local program successes at the ninth annual Awards of Excellence. REV Birmingham has been a Main Street organization since before we were REV. If you’ve ever browsed any of our history page, you might already know that REV was formed in 2012 as a strategic merger of Main Street Birmingham and Operation New Birmingham – and we’re happy to still be working toward a more vibrant city every day, project by project! Here are the Main Street Alabama awards that REV won for 2021!
Activating the streets of downtown Birmingham with talent from all over the Magic City
Filed Under: Downtown Birmingham, Front Page, Yaysayers
We are Live on 20th folks! Have you been downtown and checked out our busker performances yet? If not, you’re seriously missing out! We have talent from all over The Magic City come out on Friday evenings from 4-6 p.m. and put on performances for the public to enjoy. Performances take place at the corner of 20th Street and 3rd Avenue North. Next time you’re heading home after a long day at the office or on your way to dinner, stop by and check it out! Let’s recap some of our awesome performers below!


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A few days ago, on the second floor of the R4 building in the Samsung Digital City Park in Suwon, Gyeonggi-do, Samsung exhibited a number of miniature LED displays that will be available in the next few months. The lineup included Samsung's first appearance at the Consumer Electronics Show in January 2018, which is the next-generation smart display with Micro LED technology. A Micro LED display consists of a microscopic LED array that forms a single pixel element.
Samsung is now ready to mass produce The Wall monitors for commercial and home entertainment use, scheduled for launch in September, for hotels, stores, stadiums, museums, convention centers and luxury homes.
Han Jong-hee, president of Samsung's visual display business, said: "We have completed the development of Micro LED technology and are in the stage of increasing production."
In addition to the flagship QLED TV brand, Samsung also launched the new Micro LED brand The Wall TV for the high-end large market. In addition, Samsung hopes that the industry will call The Wall a monitor or screen - not a TV.
Thanks to its borderless modular design, The Wall does not have the same size as other TVs. The user can determine the appearance by selecting the number of display units, and finally adjust the display size to the ideal state.
Han said that the upcoming version of The Wall's home version will reach 30 mm or less and will be called a "luxury" for home entertainment.
Yoo Ho-sun, vice president of Samsung's visual display business, said: "Since Samsung's proprietary advanced flip chip bonding technology will be used, Samsung's Micro LED display will be completely different from previous LED products." This is a kind of A method of interconnecting a semiconductor device of an integrated circuit chip with a solder bump deposited on a chip pad to an external circuit.
Yoo said that in addition to the chip manufacturing process, this upcoming Micro LED display with unmatched black and color contrast will feature ultra-low-reflection black technology, new color-enhanced LED chip technology and advanced seismic technology. In addition, for a 4K Micro LED TV, 24 million LEDs are required, and four such TVs require a total of 100 million LEDs.
According to Samsung officials, due to Samsung's innovative chip structure technology, its Micro LED display has a lifetime of approximately 100,000 hours, far exceeding the life of its competitor OLED display.


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That means you'll have to sign up for a £35/month contract on Orange to get the phone for free.
The replacement for the Galaxy S – best multimedia phone in our 2010 Awards – has a 4.3in touchscreen in place of the original's 4in display, and uses what Samsung calls Super AMOLED Plus technology to reduce power consumption while maintaining brightness and clarity.
A dual-core processor is used to give speed said to equal that of a PC, and the new phone runs Android 2.3, aka Gingerbread, a key function of which is the ability to make wireless payments.
Yet the phone is lighter and thinner than the original Galaxy S, shaving 5g off the weight and 1.4mm from the thickness: the new model is just 8.5mm thick and weighs 116g.
Samsung hopes the Galaxy S II will become the new standard for smartphones when it appears, and will build on the 10m+ Galaxy S phones sold since that model was launched eight months ago.


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Controversial survival game The Day Before has once again reared its head, just days ahead of its previouslt planned release date on Steam. Just over a week before the planned launch date for the zombie multiplayer game, developer Fntastic has unveiled details of the return of The Day Before to Steam. While it’s good news for those of you who have been curious about when it would return to the Valve platform, the release date has been pushed back into December.
The Day Before, which was previously Steam’s most-wishlisted game, was removed from the platform following a trademark dispute with the owner of a calendar app using the same name. The survival game was also called into question for a trailer that closely resembled a Call of Duty Zombies teaser, with developer Fntastic responding at the time, “We all live in a time of disinformation and lack of fact-checking.”
Now, Fntastic reveals in its latest stream that the trademark dispute has been resolved and the game will be returning to Steam. However, The Day Before release date for its early access launch, which was previously set for Friday November 10, 2023, has now been pushed back into December, so we’ll be waiting a bit longer to find out exactly what the game has in store for us.
The ‘final trailer’ also shows off the ranch you’ll be setting up as your home base, along with its weapon modification systems, and the way missions will be set up. Taking on community requests will earn you coins that can then be spent on all manner of weapons, ammunition, protective gear, food, backpacks, and so on.
The Day Before early access begins Tuesday December 7, 2023 on Steam. As mentioned, that’s a little later than originally scheduled – but after a long while of wondering if it’d even make it back to Steam for launch, it’s nice to actually have a date when we’ll see it in action for real.
If you’re eager to find out exactly what makes The Day Before tick, have a look through The Day Before system requirements to make sure you’re ready for its new launch date. Alternatively, we’ve picked out the best zombie games for all your shambling desires.
Related Forum: PC Gaming Forum


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This week’s lead feature looks at how the GDPR (General Data Protection Regulation) comes into effect on 25th May in Europe but it has huge global implications for those holding and using consumer data. Against the backdrop of the Facebook/Cambridge Analytica scandal, companies and digital platforms are very much on edge, making getting a handle […]
Tag: Justin Timberlake
Arrests made over StubHub $1.6m ticketing cyberfraud case
Seven people have been arrested after buying thousands of tickets from eBay’s StubHub service using stolen credit-card numbers. Reuters reports that the arrests were made in the UK, US and […]
Apple names Justin Timberlake as iTunes Artist of the Year
Apple has published its Best of 2013 charts and awards this morning, covering music as well as films, TV shows, apps, iBooks and podcasts.
Apple starting to premiere albums on iTunes Radio
Apple’s services boss Eddy Cue has given a rare interview in which he talks about what the company is doing with the recently-launched iTunes Radio.
Justin Timberlake and Kid Rock launch own fanclub sites
US stars Justin Timberlake and Kid Rock are the latest artists to launch their own members-only sites for fans.
Apple bags Justin Timberlake, Jessie J and more for September iTunes Festival
Apple has confirmed first details of its 2013 iTunes Festival in London, which will run for the whole month of September at the Roundhouse venue in Camden.
Justin Timberlake, Thirty Seconds to Mars, Jack Johnson, Jessie J, Phoenix, Jake Bugg, Primal Scream and Queens of the Stone Age are the eight headline acts confirmed so far, with 22 more (plus supports) yet to be announced.
Comparing Spotify play-counts for Daft Punk, Justin Timberlake, PSY and more
We’re pretty excited about Spotify’s latest update in which can see how many times a track has been streamed worldwide. Only last week we called for a wider understanding of streaming numbers in our Sandbox lead (issue 84) as the requirement for increased transparency from streaming services has been evident for some time.
The Spotify update shows individual track streams for an artist’s top 10 tracks. Although the count represents the all-time cumulative number of streams, they are ranked by popularity over a recent period.
Music Ally Report 316: Cheap Trick
In our lead feature we look at the new wave of low-price streaming services that are hoping to be more than just stepping stones for digital first-timers who then move onto the $10/£10/€10 a month streaming heavyweights
Justin Timberlake gets iTunes pre-release stream
Apple is quietly ramping up its campaign of pre-release streams for big albums on iTunes. Justin Timberlake is the latest artist to benefit, with his ‘The 20/20 Experience’ album getting a week of free streaming on the iTunes Store, alongside a $10.99 pre-order offer.
Stipple takes on Urturn with Justin Timberlake in tow
Pop star using a digital startup that we haven’t heard of for promotional purposes? They must have a stake in the company. Such is the case with Justin Timberlake and Stipple: he’s an investor in the service, and is also using it to reveal the tracklisting for his upcoming ‘The 20/20 Experience’ album
Myspace’s new design actually has people excited
When advertising firm Specific Media bought Myspace – complete with investment from Justin Timberlake – it’s fair to say the most common reaction was a shrug. Dying brand, no chance of a […]
Myspace returns as a second-screen social TV service
Myspace TV will make its debut on Panasonic’s range of connected TVs, and will let people see what their friends are watching, while posting comments from their smartphones or tablets.


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It rose nearly 2 pfennigs, prompting the Bundesbank to step into the foreign exchange market with light sales at about DM1.7435, despite figures showing that US inflation pressures remain subdued.
The Bundesbank action suggested that concern over the weakening mark may delay a cut in key German interest rates at next Thursday's central bank council meeting.
The dollar nevertheless breezed past its 1993 high-point of DM1.7488 to reach a peak of DM1.7530, before easing gently back to DM1.7510, a gain of 1.5 pfennigs on the day.
The Bundesbank's action prompted speculation that the central banks may become more active in the currency markets, especially if the US currency shows signs of pushing towards the DM1.80 level.
Although the dollar's latest display of strength may delay the next reduction in key German rates, some analysts argued that the mark was more likely to strengthen than weaken if the German central bank acted soon.
''The experience of 1993 shows that currencies are helped by a cut in rates because that improves the prospects for economic growth,' said David Cocker, of Chemical Bank.
The dollar's sudden advance came after US retail sales climbed 0.8 per cent in December, well ahead of market expectations. It was the ninth consecutive monthly rise and pushed up sales for 1993 as a whole by 6.2 per cent, the sharpest annual gain since 1989.
On the basis of these figures, analysts estimate that the US economy grew at an annual rate of 5 per cent in the fourth quarter, the fastest growth rate for a year. John LaWare, a governor of the Federal Reserve, the US central bank, said it was unlikely that this growth rate would be sustained. He predicted expansion would subside to an annual rate of 3-3.5 per cent.
After figures showing the consumer price index rose a modest 0.2 per cent in December, Mr LaWare said the inflation outlook was favourable.
The latest rise in the CPI left the annual rate for 1993 at 2.7 per cent, down from 2.9 per cent the previous year. Figures earlier this week showed US wholesale prices were virtually flat in December.
The Fed governor said that as long as the annual growth rate eased below 5 per cent in the first quarter 'I don't think there is any great pressure for a drastic change in monetary policy'.
Financial markets are becoming increasingly nervous at the prospect of a rise in key US interest rates, a development that would strengthen the dollar even further. But yesterday's figures and Mr LaWare's comments provided little ammunition for these fears.
Economists believe US tax increases are likely to hold back economic growth later in the year. Some also point to the uneven composition of the sales figures as evidence the expansion may ease later.
The rise in December partly reflected revisions to November sales, up 0.3 per cent. Sales in both months were llifted largely by higher demand for cars, which have enjoyed a remarkable revival owing to pent-up replacement demand delayed by the 1991 recession. Sales of building materials also increased but sales by merchandise and clothing stores both fell, unusually for the Christmas season.
The Bank of England yesterday provided fresh evidence that retail sales remain buoyant in Britain. It said the value of banknotes in circulation last week was 6.5 per cent up on the same week last year. The annual increase in the previous week was 8.6 per cent.
Economists at Midland Bank said an increase of 5.8 per cent would have left the level of notes consistent with the average for the last 15 years, suggesting that consumer spending is holding up well compared with last year.
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FRENCH brewer, Castel is assuring consumers in Malawi of good quality beveragesamid concerns of substandard Carlsberg products on the market.
In a statement, Castel Malawi acknowledges reservations raised by consumers for the past weeks pertaining to the taste of Carlsberg green.
Carlsberg green is probably the best beerin Malawi.
Considering how much people in the country enjoy drinking Carlsberg Green, Castel says it is working tirelessly toensure that the local market is supplied with the best quality of the beer.
The company further stresses on its commitment and willingness to deliver high quality products to consumers in Malawi.
Castel thanks the consumers for providing it with feedback and input on how the brewer can improve on the taste of Carlsberg green.
It says consumers and customers alike are at the centre of the company’s operations.
Carlsberg Limited was established in Malawi half a century ago 1968. Castel Group acquired the company in 2016.


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For years, avid walkers have taken advantage of the perfect weather inside Palisades Center to strut their stuff. Palisades Center is proud to announce that BRIDGES, a local non-profit located within Palisades Center, who works to remove barriers, improve accessibility and enhance quality of life for people with disabilities, will be the official partner of the Walking Program.
“BRIDGES is pleased to partner with Palisades Center on their Walking Program,” said Carlos Martinez, CEO/Executive Director of BRIDGES. “As a nonprofit organization that has been promoting health and autonomy for all people, especially those with disabilities, we encourage everyone to make exercising part of their daily routine. The Walking Program at Palisades Center is a great opportunity for people to do that, rain or shine.”
In total, there are two miles of indoor walking space at Palisades Center, spanning four levels. A kick-off event will be hosted on October 27 at 8:30am on Level Three next to Nathan’s Famous in the food court. A light breakfast will be provided by IHOP.
“Palisades Center’s Walking Program allows individuals from Clarkstown and the surrounding communities to exercise for free in a safe and warm venue,” said Clarkstown Councilman Donald Franchino. “This organized program will positively benefit everyone’s emotional health and well-being during this challenging time.”
“We are thrilled that BRIDGES is helping us promote healthy lifestyles,” said Darrin Houseman, General Manager of Palisades Center. “Given the challenges that we have been facing through the current pandemic, it is more important now than ever to care for ourselves and find ways to stay healthy. As the weather gets cooler, we want to offer our mall walkers and guests our vast space to walk within, encouraging the ability to maintain this healthy lifestyle all year long.”
Mall Walkers may also visit palisadescenter.com to sign up for updates and learn about new programs and specials at stores, restaurants and entertainment venues. Walking maps, and materials to help track mileage and better understand how to combine healthy living, eating and exercise, will be available in the upcoming weeks on palisadescenter.com.
Mall walking at Palisades Center is open to the public as early as 7:00 AM every day of the week and free of charge.
About Palisades Center
Palisades Center is a four-level shopping center offering 225 brands, 16 sit-down restaurants, a bowling alley, ice rink, the world’s tallest indoor ropes course, comedy club, and more. With its unique and diverse merchant mix, Palisades Center is the go-to place for local shoppers and tourists alike. To learn more, visit www.palisadescenter.com, www.facebook.com/palisadescenter, www.twitter.com/palisadescntr, or www.instagram.com/palisadescntr.
About Pyramid Management Group, LLC
Pyramid Management Group is one of the largest, most innovative, privately-held real estate developers in the northeast. Headquartered in Syracuse, New York, Pyramid’s portfolio of dynamic shopping, dining and entertainment destinations and expanding hospitality presence dominate the northeast with 14 properties located throughout New York and Massachusetts. For 50 years, Pyramid has built its reputation on being first, fast, ahead of the curve and always what’s next, leading the industry in combining the best elements of traditional retail with world-class dining and entertainment, all under one roof. For more information, visit www.pyramidmg.com.


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GOG.com Offers Its First 50 Linux Games
Jul 24, 2014, 14:00 (0 Talkback[s])
(Other stories by Silviu Stahie)
The digital platform GOG.com now offers a number of Linux games and this event marks the entry of this new distribution service into the Linux market. GOG.com representatives said a few months ago that they also planned to provide Linux versions of their games, but the promise was made with a launch date set for the fall of 2014. It looks like they managed to get things done a little faster than anticipated and a number of 50 games now also have a Linux counterpart.


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The takeover of Tim Hortons by Burger King is a bad deal for Canadians. That contention being made by the Canadian Centre for Policy Alternatives.
Senior economist David MacDonald says 3G Capital, which owns Burger King, has a history of aggressive cost cutting over 30 years.
He predicts higher prices, less quality and layoffs but restaurant jobs won't be affected because the individual Tim Hortons are operated as franchises.
MacDonald says when Wendys took over ownership of Tim Hortons, the practice of making donuts fresh at each store came to an end. In a move to reduce costs, they were distributed to each of the stores frozen.


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Surry Hills, Australia (Aug. 27, 2019)—Revenue, earnings and cash flow all show strong growth in the recently announced year-end results for Audinate Group Ltd., which also reports that the total number of Dante-enabled products rose 30 percent to 2,134.
Revenue growth for the 12 months ended June 30, 2019 (FY19), was 34 percent (in US$ terms). In A$ terms, revenue was up 44 percent to A$28.3 million. This reflects a 29 percent increase in shipments of Dante chips, cards, modules and software, according to the report. Gross margin at 74 percent was flat compared to FY18.
Total operating expenses increased 30 percent to A$18.3 million, primarily driven by further investment in people, with 19 new roles mostly related to sales and engineering, a second year of long-term incentive expenses and costs associated with the company’s new Sydney office, to support ongoing growth.
The strong growth in revenue underpinned a 249 percent increase in EBITDA to A$2.8 million (FY18: A$0.6 million) as the growth in gross profit flowed through to earnings.
The strong balance sheet stems from a successful year of capital raising, including an oversubscribed A$20 million placement on June 6, 2019. The company raised an additional A$4 million shortly after year-end.
The number of Dante enabled products available for sale was up 30 percent to 2,134 products at year-end, from 1,639 at the same date last year. The number of OEMs shipping Dante-enabled products was up 22 percent to 270.
Audinate entered the video market with the release of its Dante AV Module and the introduction of Dante AV Product Design Suite in June 2019. The Dante AV Product Design Suite is expected to be shipped to OEMs by the end of calendar year 2019.
Related: At InfoComm: Audinate Launches Dante-as-Software Products, June 13, 2019
Audinate also released two new software products at InfoComm in June 2019. Dante Application Library (DAL) allows software developers to seamlessly integrate Dante functionality directly into their PC and Mac applications. DAL has been adopted by Zoom Video Communications for its Zoom Room application for video meetings.
Dante Embedded Platform (DEP) enables manufacturers to implement Dante in software running on Linux for Intel and ARM processors. QSC is the first DEP customer to deploy the product within the Q-SYS line of digital signal processors and is expected to be rolled out by the end of calendar year 2019.
Related: Audinate Announces Internal Successor for CEO, May 30, 2019
Commenting on the retirement of CEO Lee Ellison on Sept. 13, 2019, which was announced May 30, chairman David Krall said, “Yet another set of great results for Audinate is testament to the fantastic job that Lee has done over many years and the exceptional leadership team that he has developed. We have a natural successor in co-founder Aidan Williams, and we are excited about the next chapter under his leadership and vision.”
Audinate • www.audinate.com


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If I advertised an investment that was guaranteed to double your money in one month, you’d be skeptical and I’d soon be in jail. But what if the government backed my get-rich-quick scheme and assured you it was real?
When the California Energy Commission (CEC) passed its 2019 Building Energy Efficiency Standards this month, which require that new homes built in the state include solar energy generation, it essentially did just that. The average new home will have solar panels and energy efficiency technology that will add about $40/month to a typical mortgage payment, but will save $80/month on electric bills. That’s doubling your monthly investment while cleaning up the air and reducing greenhouse gas pollution.
And while the solar mandate got most of the headlines, the long tradition of the CEC, of pushing technology providers to help consumers save money by getting more from every kilowatt used in a home, continued with these new standards. Beyond solar, these new rules cover efficiency improvements to the insulation, ventilation, and lighting of new buildings. The ventilation measures will make heating and cooling systems more efficient and will also improve indoor air quality. Under the new standards, buildings will use about 30% less energy, saving consumers still more money.
Indeed, these measures save significant money and will reduce meaningful amounts of air pollution and greenhouse gases from energy production, but they also create local jobs. It’s hard to outsource the task of installing or maintaining solar panels to anyone but a local worker. In 2010, 93,000 workers were employed in the solar industry in communities all around the US. By 2017, that number skyrocketed to over 250,000 jobs. By comparison, coal mining in the US employs about 80,000 workers, not surprisingly the majority of which are concentrated in four states.
But if you’re not living in California or buying a new home in the near future, you can still enjoy the benefits of solar. Thanks to incentives and mandates like those of the CEC, the cost of adding solar to your home or business has dropped more than two-thirds nationwide since 1985 and more roofers, electricians, solar specialists and finance companies are competing for your business. You can even get solar on your roof today for no upfront cost, either with conventional financing or by agreeing to simply buy the energy produced, often at a lower cost that you pay today for grid power.
My parents used to warn me to beware of anything that’s too good to be true, but they also said, “don’t look a gift horse in the mouth.” Thanks to the CEC and many solar providers today, renewable energy on your building (and efficient use of that power) can be a money-maker that is a gift to your wallet and the planet.


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Stock has rallied 40% from the lows
On March 30th, I emailed a hedge fund that were prominent in their short-selling of Tesla (TSLA) and stated that June would be a low or turning point in the stock. The stock price has since rallied through June and is up 40%, however the short squeeze may just be beginning.
At present, Tesla has 126m shares floating and 30% of that is now in short positions. The June rally is now eyeing all-time highs in the stock and getting above that level could start to cause pain for short-sellers and lead to a blow-off top from short liquidation.
Is a capital raise on the way?
Investors are well aware of the bad news and negativity that has surrounded Tesla in recent months. Cash flow problems, executive turnover, worker layoffs, and fatal accidents have all cast a cloud over Tesla's future.
The sell-off into April saw Elon Musk criticized for missing an opportunity to raise capital when the stock was trading near the all-time highs. The stock is now trading back at that same level and Musk, without the hubris that saw him goading short-sellers in the past, has likely had some conversations with investment bankers about the options and it is possible that this short squeeze is preceding a fresh capital raise. Musk continues to insist that he won't need to raise further capital but it's hard to see how they can go forward without it.
Telsa's free cash flow was a negative $3.5 billion last year, largely caused by capital expenditures of $3.4 billion. For the year ahead, the company expected capex to be slightly larger than last year, however this figure was trimmed in the recent earnings to $3 billion. There is also $1.15 billion in maturing debt over the next 12 months, which will need to be funded. If we anticipate $750 million in capital expenditures in the first quarter of next year, Tesla's cash requirement could be up to $5.5 billion through March 2019. As the company has one of the higher debt-to-equity pictures of the automakers, it is likely that an equity raise would be more appealing. Conveniently, for Tesla, the 17% appreciation of the stock in June has made the dilutive effects of such a raise less threatening, and if we do see the stock push through the all-time high, a fresh capital raise could put Tesla in a strong position to execute its growth plans.
Tesla previously raised equity in 2016 and 2017 with only a small dilutive effect on the stock.
If Tesla were to sell another 10 million shares around the highs of $380, it would bring in $3.8bn and would see a dilution close to the 2016 figure of 6%, which would take the stock down to around last Friday's closing of $358. If Tesla were to undertake a strategy similar to this it would leave the stock trading at a healthy price and remove some of the clouds over the company's future. Some analysts have talked of a need for $10 billion through 2020, possibly through a combination of debt and equity, so the company's next earnings statements will be a vital clue to the path forward.
Musk's wakeup call and restructuring efforts
The stock rally in June has followed recent comments at the annual shareholder meeting that the company would be profitable in the third quarter of this year. Elon Musk also noted that it was "quite likely" that Tesla would hit their production target of 5,000 Model 3 cars per week by the end of June. In its recent earnings release it was noted that 5,000 units would be a foundation to then aim for 10,000 per week. Elon Musk emailed employees on Friday calling for "radical improvements" to hit the 5,000 target, so there may be a slight lag but the company is on the right track. Despite its production issues, Tesla has seen strong gains in market share to become the market leader for mid-sized sedans last month. Musk also confirmed that Model 3 test drives should be available in "almost all stores in North America" by the end of July.
In a further statement of its restructuring efforts, Tesla announed in early June that it was laying off 9 percent of its workforce and it's looking like the negativity and criticism that Elon Musk faced in recent months was a much needed wake-up call to tackle the efficiency and profitability issues, and to steady the ship over what will be a crucial few quarters for the company. Despite the announced job cuts, Tesla will still have net hiring for this year of around 4,000 jobs.
Tesla's restructuring efforts need to focus on the company's negative operating margins, which currently trail the auto industry and have put the commpany at risk. If we see a turnaround in this and a profitable company in the third quarter, as promised, it may be the beginning of the end for Tesla's rivals. (Source: Reuters)
Could a Chinese Expansion Change The Game?
The Chinese government announced recently that it would remove foreign ownership caps for EV ventures this year. China currently limits the size of stake that a foreign company can hold in joint ventures.
The move by China could be significant for Tesla as it started negotiations for a Chinese factory last year, however the deal stalled as China didn't want the facility to be fully owned by Tesla. A Chinese factory would allow Tesla to avoid import tariffs, which would be a possible game changer and a competitive advantage over Telsa's U.S. competition if the trade wars between the U.S. and China were to escalate further.
The recent negativity surrounding Tesla has all been focused on car production, whilst investors ignore the potential for energy, batteries, and the "first mover advantage" that Tesla is gaining through their related activities, such as the data they are recording on autonomous driving. Tesla has now installed 1GWh of energy storage worldwide and economies of scale have seen the price of batteries falling, which brings down costs for the power segment. During the recent shareholder meeting, Elon Musk stated that Tesla would soon produce more batteries at the Nevada gigafactory than all other electric vehicle (NYSE:EV) companies combined. Whilst other car companies can pay lip service to their goals of electric vehicles, only Tesla has committed to the battery scale which can see real EV traction in the years ahead. If Tesla can gain a foothold into China with a new factory, its U.S. and European competitiors would find it hard to keep up.
Trump car tariffs look inevitable
Rumours continue to circulate that President Trump is planning to initiate tariffs on German car imports; another move that would be highly beneficial to the U.S. auto industry. The rumours come on the back of a recent investigation which was started by the U.S. Department of Commerce to determine whether foreign auto imports are a threat to U.S. national security. As automobiles are becoming more data-driven, it is highly likely that there will be an excuse for import tariffs that may match the 25% placed on steel.
Commerce Secretary Wilbur Ross commented at the announcement of the investigation that, "There is evidence suggesting that, for decades, imports from abroad have eroded our domestic auto industry".
Volkswagen delivered 148,857 units to U.S. customers for the year, which was a gain of 10%. The company report highlighted that the Audi Q3, Q5, and Porsche Panamera were the fastest growing models. The Q3 retails at around $35,000, which is the same as the Tesla Model 3, so it's not hard to see how Tesla could gain market share and eat into the profits of German manufacturers if the tariffs come into play. European policymakers would likely hit back with their own tariffs, especially as Tesla is starting to outsell German cars in Europe, so this would be a good reason to push forward with the plans for a Chinese factory, to gain an advantage in China's growing automobile market. (Source: Volkswagen)
The recent stock rally in Tesla is being seen as a relief rally for a beleaguered stock, however my guess is that we may be about to see a short squeeze higher. The Nasdaq index closed at an all-time high for the week so market sentiment is good and as Tesla eyes it's own all-time highs, the 30% of the float that is shorting this stock, may be about to feel some pain. A blow-off rally through the highs would set up a nice opportunity for Tesla to raise further cash without harming their current shareholders too much. With some much needed capital and a more mature approach following their restructuring, Tesla could emerge in a strong place to fulfill its ambitious growth plans and put serious distance between itself and the other manufacturers that are pursuing electric vehicles.
Disclosure: I am/we are long TSLA.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.


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Prepare yourself accordingly: Your heart might just break over this retail news. After Business of Fashion reported in July that Barneys New York — one of Manhattan's most iconic department stores — was preparing to file for bankruptcy, many were concerned that the household name might actually shutter its doors. According to BoF, Barneys struggled to stay afloat, citing high rents and changing consumer tastes as reasons for its rapid decline. Not to mention Barneys had failed to adapt to the changing landscape of retail, racially profiling Black customers and carrying limited sizes despite 67% of women in the U.S. wearing a size 14 or larger. On Friday, the New York Times reported the retailer was “sold for parts” to Authentic Brands Group, which owns Juicy Couture and Nine West, officially marking the end of their franchise.
Barneys' flagship store on Madison Avenue will remain open for another year, while most of its remaining stores will close. According to the Times, the 275,000-square-foot space will become a “four-floor pop-up with entertainment that fosters creativity and community.” The liquidation sale at Barneys retail locations and website will be 5%-20% off, while the prices at Barneys Warehouse will be discounted by 20%-30%.
Manhattan aside, the bankruptcy will see Barneys closing down 15 of its 22 stores, including its Chicago, Las Vegas and Seattle branches, seven of the company’s nine Barneys Warehouse stores and five concept stores. The retailer maintains it will keep its five flagship locations in New York, San Francisco, Los Angeles, and Boston, as well as its online stores Barneys.com and BarneysWarehouse.com open for business.
Back in August, after the retailer officially filed for Chapter 11 bankruptcy protection Barneys New York leadership issued the following statement:
“For more than 90 years, Barneys New York has been an iconic luxury specialty retailer, renowned for its edit, strong point of view, creativity and representation of the world’s best designers and brands,” said Daniella Vitale, Chief Executive Officer & President said via press release. “Like many in our industry, Barneys New York’s financial position has been dramatically impacted by the challenging retail environment and rent structures that are excessively high relative to market demand.”
In October, WWD reported a Barneys attorney told New York bankruptcy Judge Cecelia Morris that the retailer received an offer from a lender who has apparently supported the company while it works through its bankruptcy proceedings. Currently, the retailer is trying to figure out how to keep its physical stores open as part of its agreement.
Why the rush? According to WWD, “the race to buy Barneys took a decisive turn on Monday, after a whirlwind weekend when ABG worked to put together a nearly $270 million bid to purchase the Barneys name and potentially license it for use at Saks Fifth Avenue stores.” That, and the company is expected to go up for auction again on October 24.
"At Barneys New York, our customers remain our top priority and we are committed to providing them the excellent services, products, and experiences they have come to expect," the company told Business of Fashion in a statement in July. "We continue to work closely with all of our business partners to achieve the goals we’ve set together and maximize value. To that end, our board and management are actively evaluating opportunities to strengthen our balance sheet and ensure the sustainable, long-term growth and success of our business."
As Forbes explained in July, when the bankruptcy speculation began, this is not necessarily a bad thing for the retailer. It all depends on the type of bankruptcy. If it’s a reorganization, as opposed to a liquidation, there’s still hope for the future of the company. “Reorganization is where the creditors or a new investor take over ownership of the company and the existing debt is forgiven or repaid at a discount from the original loan amount,” Forbes explained. “In a liquidation, the company is, well, liquidated and it ceases to exist.” Plus, this isn't the first time that Barneys New York filed for bankruptcy. Previously, the brand filed Chapter 11 reorganization and the change was not obvious to customers.
We'll be following this story closely to see how it continues to develop.
This story was originally published on July 15, 2019.


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My first month with Google Chromecast
Google’s $35 Chromecast TV-streaming device was the “it” device earlier this summer - you plug it into your TV to watch anything online. So, with one month of use under my belt, is the device performing up to expectations?
First, the install. Chromecast was easy to activate. I plugged it into my TV’s HDMI port, completed a quick install. From a smartphone or tablet, you’re basically looking at Netflix, YouTube and Google Play (both movies and music).
The YouTube and Netflix apps performed well, with little buffering interference. The video quality was also good and the interaction between the mobile devices (iPad and iPhone) and the Chromecast was responsive enough.
My first and only headache so far was when I tried casting Hulu or HBOGO video content using the Chrome browser. It was here that I ran into buffering problems and poor video quality.
Overall, the small device did provide immediate satisfaction, but it also left me wondering if I was using the device to its greatest potential. It’s a small device, but this is Google, there’s got to be more, right?
Google has been rolling out minor tweaks to the device since it launched in late July. For instance, last week, Google updated its YouTube app, allowing users to stream from Apple’s mobile devices.
Many more apps are supposed to roll out mobile-based Chromecast support soon, but it hasn’t happened yet. For just $35, I can wait.
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LG has announced a new battery-run encounter mask, which the tech large describes as a “wearable air purifier”.
The unit, referred to as the PuriCare Wearable Air Purifier, makes it possible for the particular person sporting it to breathe in cleanse air equally inside of and outside the house.
With a battery daily life of eight hrs on a one cost, the design and style characteristics two H13 HEPA filters – identical to these identified in house air-purifying products. These filters can capture 99.97% of particles in the air.
The mask also has dual lovers, and patented respiratory sensors can modify the pace of these so that they match the respiratory pace of the person.
The storage scenario presented incorporates UV-LED lights that have the means to get rid of germs. The circumstance also sends alerts to an application to permit buyers know when the filters have to have to be changed.
The tech business is pitching the air purifier as an alternate to selfmade masks, which range in top quality, and disposable masks that have often been in shorter supply in the course of the COVID-19 pandemic.
The firm has not provided particulars on just how productive the gadget is at stopping the unfold of coronavirus, even so it stated it would produce “meaningful” health and fitness positive aspects.
LG president Dan Song said: “The PuriCare Wearable Air Purifier is an remarkable addition to our escalating line-up of solutions intended to deliver meaningful overall health and hygiene gains.
“At a time when consumers are seeking methods to make lifestyle safer and far more handy, it is really critical that we are capable to offer you remedies that add measurable value.”
The mask will be showcased at technological innovation trade show IFA in Berlin upcoming thirty day period.
A price tag and release date has not nonetheless been verified.
Introvert. Beer guru. Communicator. Travel fanatic. Web advocate. Certified alcohol geek. Tv buff. Subtly charming internet aficionado.


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The international market has become an important factor in the success of blockbuster movies. Global ticket sales can save a movie from being unprofitable, like in the case of Pacific Rim, and it can make a profitable movie really profitable, like in the case of Jurassic World.
There's no doubt Disney expects Star Wars: The Force Awakens to sell a massive amount of tickets, not only in its home market of the United States, but internationally as well. If it doesn't, there's going to be a whole lot of merchandise destined for a landfill. If early buzz is any indication, though, they won't be needing any extra trash bins.
According to some of Deadline's sources, the upcoming Star Wars sequel could easily beat the international box office record previously set by the CGI dinosaurs of Jurassic World. While different analysts give different predictions, a common theme is the above-$300 million mark:
"In August, I was hearing as high as $315M. That would put this reboot in the realm of Jurassic World which this summer posted a record overseas opening of $315.3M. I’m now hearing some slightly more conservative estimates, although many are suggesting $300M is not out of the question. Whatever it does, it will be huge and as one person said to me today, it’s likely to break records in all markets across the globe."
China is arguably the most important market for Star Wars 7 to conquer, having represented $96 million of Jurassic World's opening numbers. There are plenty of other countries to turn a profit in, though:
"Major markets outside the U.S. on the previous films have rather consistently been Japan, the UK, Germany, Australia, France and Italy — with Spain squeaking in once in a while to the Top 5.
Those are all mature markets now and will be expected to play in the same field again. (One skeptical international exec says they expect both the U.S. and Europe to be bigger than Jurassic World, but “smaller everywhere else.”) Still, the growth markets of Russia, Brazil, Mexico and the rest of emerging Latin America and Asia Pacific [we] think the opening will be remarkable."
Of course, not everyone has such unbridled optimism. Deadline cites the holiday season as a possible detriment to the film's box office potential, being generally less profitable than the summer blockbuster season due to competing activities such as "shopping, travel and the like." It does have nostalgia on its side, though, both from fans of the original trilogy and, to a lesser degree, its prequels.
Whether or not the Force can awaken enough fans to outperform recent blockbusters, there's no doubt that Star Wars: The Force Awakens is going to sell tickets. In fact, it has already set records for advance ticket sales. In the end, though, the opening numbers will depend on how many people are willing to put down their Christmas stockings and pick up their newly-acquired toy lightsabers for a holiday trip to the movie theater.
Star Wars: Episode VII – The Force Awakens hits theaters on December 18th, 2015, followed by Rogue One: A Star Wars Story on December 16th, 2016, Star Wars: Episode VIII on May 26th, 2017, and the Han Solo Star Wars Anthology film on May 25th, 2018. Star Wars: Episode IX is expected to reach theaters in 2019, followed by the third Star Wars Anthology film in 2020.