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Jimmy has communicated and interviewed with Ms. Ikezawa Miao from Bandai Namco China several times. The interviews during ChinaJoy every year have become a fixed time for communication every year. This year 2020 is a very special year. The outbreak of the new crown pneumonia epidemic has caused tremendous changes in our lives, work and entertainment. This is also a huge challenge for Bandai Namco China. In addition, one year has passed since the original IP “Dark World Divine Envoy” incubated by Bandai Namco China in China last year after CJ announced the animation. What progress is there now? Let’s take a look at the answer Ms. Ikezawa Nae gave us
1. This year’s epidemic is a big environmental change, I would like to ask Ms. Chizawa Miao, what impact has this mutation brought to this year’s Bandai Namco (Shanghai) interactive entertainment and what opportunities have it brought? ?
The sudden change of the epidemic will make more young people choose home life, which naturally brings more opportunities for people in the fields of games or online film and television entertainment, and more people will start to contact games at home Or film and television works
Affected by the epidemic, offline physical entertainment and IP peripheral sales will be affected, but it also brings opportunities for online shopping. We also deployed the Bandai Namco Entertainment Tmall flagship store at the end of the previous year
The new crown epidemic has indeed changed people’s lives. The cloud economy has begun to stimulate market demand, and all walks of life have set foot in “online”. According to data released by the Ministry of Culture and Tourism, during the epidemic, the number of users of new business formats such as “cloud entertainment”, “cloud live broadcast”, and “cloud viewing exhibition” increased
Many of the original plans of our Bandai Namco (Shanghai) Interactive Entertainment have been transferred online, such as the “Gundam China Project” online press conference held in mid-July, which allows more Gundam fans to learn directly The release of Gundam Statue and other shocking news also conveyed the charm of Bandai Namco products to more people
In addition, the Ace Pilot Challenge of the mobile game “Gundam Battle” will be held for the first time this year in the form of a bounty system, and will be presented to everyone in the form of a combination of online and offline
2. In the second half of this year, what specific measures will Bandai Namco’s IP Axis strategy take to deepen the Chinese market (such as strategic cooperation with well-known domestic brands, well-known domestic film and television companies, and toy companies)?
On the premise of adhering to the strategy of cultivating the IP axis, we are intensively discussing cooperation with large leading real estate developers, and projects strongly supported by the government are also planned. We are also considering multilateral cross-border cooperation with leading companies in various industries in China to combine the areas of film and television, games, toys, facilities and catering developed by Bandai Namco with IP as the axis to jointly create a next-generation closed-loop experience and further Realize online and offline integration, to provide users with a refreshing IP pan-entertainment experience
3. Is there any new news on the original IP “Dark World Divine Envoy”. After the animation was announced last year, I especially want to know when the animation will be confirmed to be broadcast?
At present, the cartoon has entered the late stage of production, and has passed the approval of relevant departments. As the first local IP incubated by Bandai Namco (Shanghai) interactive entertainment, we attach great importance to it and are very cautious. Distribution, promotion and a series of subsequent commercialization plans. We will choose the best time to launch the cartoon, and cooperate with various commercial content to satisfy the fans who have been following and loving “Dark World Divine Envoy” for a long time
4. Can you introduce the highlights of CHINAJOY this year? Which stage session are you most looking forward to?
First of all, this year coincides with the 40th anniversary of the well-known IP “Pac-Man”. We also used the elements of “Pac-Man” in the booth design, using classic retro pixel styles to match the wonderful IP content of Bandai Namco. Let everyone experience the colorful “Entertainment Factory”
In our booth area, 2 new mobile games “Sword Art Online Black Swordsman: Ace” and “Digimon: New Century” will be unveiled. “Idol Master” will also appear on the Bandai Namco booth for the first time, leading everyone to review the exciting content of the 15th anniversary
On the special stage of “Naruto Ninja Mobile Games” in the stage area, Wang Xiaojia and Zhang Yuxin from the SNH48 group will also perform on stage and engage in interactive games. In addition, this Chinajoy Bandai Namco will bring you a special performance of the virtual singer V-Singer Mirai Ming for the first time. The virtual idol will interact with the audience and perform songs
5. It is reported that many overseas manufacturers have faded out of CHINAJOY this year. Bandai Namco still insists on large-scale exhibitions. What is the reason behind this?
First of all, Bandai Namco has continued to support the Chinese government and the development of the Chinese game and entertainment industry since entering the Chinese market. Our goal is to provide Chinese users with high-quality product content and experience. Since we are rooted in China, we naturally need to fully let users know, know and love our brands and products online and offline. As the epidemic spreads to the world and many foreign exhibitions are closed offline, CHINAJOY, as a global large-scale game exhibition held every year, has taken adequate precautions. Holding it as scheduled has also given us great confidence, and we will do our best. Provides the best display and best experience to the users who will be present this year


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Offering a fun-filled afternoon for all ages, the AME Southern California Conference Women In Ministry (SCCWIM) are planning an Appreciation Luncheon and Comedy Show.
The event takes place on Saturday, ... read more »
The Southern California Conference AME Women In Ministry (SCC WIM) will host their Annual Convention on Wednesday, Oct 25, from 12:30 p.m. to 5 p.m. at the Los Angeles Hilton Airport Hotel. ... read more »
Music, fashion and fellowship will highlight Summer Gospel Luncheon and Fashion Show sponsored by the AME Church’s Southern California Conference Women in Ministry (SCCWIM).
The event is set for Saturday, ... read more »

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Today more than ever, consumers are putting their money faith in brands to stand for something. Whether people are shopping for soap or shoes, they’re weighing a brand’s principles as much as its products.
Nick Lucido, VP, Global Practice Development, will be joining us to talk about Edelman’s Earned Brand study, which explores how companies can tell a better brand story; leverage brand values to drive sales and advocacy; and how brands can successfully engage consumer attention in a time of increasing media disruption and changing consumer behaviors.
As part of his day to day job at Edelman, Nick (who served as PRSSA’s National President in 2010-2011) partners with a large and diverse community of 1,100 brand marketers working with some of the world’s most iconic brands. Based Edelman’s Chicago office, Nick manages intellectual property, operations, portfolio and capability growth, community building, and marketing for the practice.
He previously was senior account supervisor and client strategist for Krispr, a Daniel J. Edelman company servicing the Kellogg Company. He led integrated communications projects for Kellogg’s initiatives including its U.S. Olympic Committee sponsorship, the global transparency platform Open For Breakfast and social/digital channel strategy.
Before returning in Chicago in 2016, Nick spent two years in São Paulo, Brazil as a Daniel J. Edelman Global Fellow. While on assignment, he served as a LATAM lead for research and analytics, in addition to serving as regional client leader for Disney Parks.
With nearly 8 total years at Edelman in different offices and practices, Nick’s experience includes strategic planning, digital strategy, analytics counsel and account management for organizations including Abbott, BlackBerry, ConAgra Foods, Disney, GE, Hilton, Johnson & Johnson, Kimberly-Clark, SC Johnson, Shell and PayPal.
He holds a B.A. in advertising with a public relations specialization and a B.A. in public administration from Michigan State University.
PLEASE NOTE: This luncheon is part of the 2019 PRO Day for college students. Students please use this link: https://www.prsawis.org/event/pro-day-2019-student-registration/ to register.
This event is being sponsored by:


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The 2022 Ford F-150 Lightning has garnered quite a lot of press since its reveal for a number of reasons. Part of that attention is due to the fact that electrifying the perennially best-selling Ford F-150 is obviously a big deal, while the EV version also offers up quite a few innovative features, to boot. But Ford also surprised a lot of folks when it priced the F-150 Lighting at just a hair under $40k, which makes the Pro version a bargain compared to other EVs, not to mention certain ICE trucks, too. However, it also seems as if FoMoCo gave the 2022 Ford F-150 Lightning a low starting price on purpose to mess with its future rival – the Chevy Silverado EV, according to a recent report from the Wall Street Journal.
“The team hoped that would nudge GM lower than it wanted in pricing the electric Silverado,” sources explained to WSJ. The fact that Ford would want to undercut its cross-town rival on price in terms of a competitive product isn’t a huge surprise, nor is it the first time such a thing has happened. However, it did somewhat force GM’s hand in that regard, particularly since the Silverado EV is going to be pretty late to market compared to the already-launched F-150 Lightning.
The 2024 Chevy Silverado EV was just revealed back in May, though it seems as if GM took Ford’s bait in terms of pricing. The entry-level Silverado EV WT is scheduled to launch in the spring of 2023 with an MSRP of $39,900, while the fully-loaded RST First Edition will follow in the fall of 2023 with a price tag of $105,000, minus destination charges. Later on down the road, more trims including the RST and Trail Boss will be offered, with prices ranging from $50k-$80k. The electric Silverado will be available with four-wheel steering, unlike the Lighting, and will reportedly beat it in terms of range as well, traveling up to 400 miles on a single charge.
In spite of numerous production constraints, Ford is actually building its entry-level Pro model in decent quantities, as Ford Authority reported back in May. Still America’s most considered EV pickup, the F-150 Lighting has received near-universal critical acclaim since its launch, while Ford recorded its first sales of the new model just last month.


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Meal kit service Chef’d appoints new VP of marketing
Meal kit delivery service Chef’d has hired Jemie Sae Koo as their new vice president of marketing.
The company said she will tap into her considerable experience with developing digital-first stories for millennial and Gen Z audiences through influencers for Fortune 500 companies to help bolster Chef’d as a premium brand.
Chef’d said its meal kits appeal to those demographics with fresh, pre-portioned ingredients including options for vegetarian, vegan and gluten-free meals.
With more than 15 years of digital and marketing experience. To date, she has led initiatives and successfully developed viral campaigns for some of the biggest global brands, including Amazon, Disney, H&M, Intel, Nestle, Coca-Cola, Salesforce, Toyota, Taco Bell and YouTube.
In August 2017, Chef’d raised $35.2 million with investments from Smithfield Foods, Campbell Soup and Fresh Direct.


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Market Cap: $785 million
YTD Performance: +105%
ExOne (XONE) is a much smaller and thus more speculative play than 3D systems. The company has not yet turned a profit and boasts anemic revenue that’s only in the tens of millions of dollars each year.
But if you want to get in on the ground floor of 3D printing, ExOne might be your last best chance. After nearly doubling so far in 2013, clearly there is big demand for XONE stock based on future earnings despite the lack of current profits in 2013.
ExOne specializes in 3D printers that produce both prototypes and production parts, and has found a place in several industries, including automobiles and energy. While it doesn’t quite have the same consumer appeal as a MakerBot, this “enterprise 3D printing” focus could mean that ExOne is built more on sustainable sales than fad appeal among gadget junkies looking for the latest tech trend.
XONE stock recently sold off after reporting a tough third quarter, including a surprise loss when analysts were expecting a profit. Revenue also missed forecasts.
However, ExOne appears to be on the verge of profitability, and that could mean it’s off to the races once real earnings start to roll in across 2014.


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+44 1225 636 200
How does MX Player succeed in a market where even Netflix is struggling?
Samsung on its new service FAST Samsung TV Plus, Partnerships, TVs and the future of AVOD
The 3Vision Annual Trends Survey is here, collating feedback from senior media executives.
On 'Inside Content' the TV industry podcast, WarnerMedia discusses HBO Max and its growth
On 'Inside Content' the TV industry podcast, Pact discuss the Channel 4 privatisation


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The Apple Watch is scheduled for release on 24th April, and its launch may be an opportunity for online casinos to reach players in a whole new way. Although no companies have yet come forward with any official plans, players could find themselves playing slots and other casino games with just a tap on the wrist in just a few months.
A look at the Apple Watch
The Apple Watch will be the company’s first entry into the world of wearable technology. The product will be available in three different varieties: the regular Watch, the Watch Sport, and the luxury-style Watch Edition. Although each one offers different external features, they are all powered by a single operating system that will ensure all users have access to all applications that are developed for the platform.
Apple have designed their Watch line to provide people with the convenience of a traditional watch combined with on-the-go productivity, with many of the most popular iPhone apps (Weather, Mail, Messages, Music, Passbook, etc.) built-in. More importantly, developers will be able to create third-party apps for the device.
Potentially opening the doors to a new way of gaming
Although the Apple Watch will not feature a traditional web browser that is required by the majority of today’s HTML5-powered casinos, gaming companies will have the ability to design apps using the WatchKit SDK. This would make it possible for casinos or gaming software platforms to create games designed for those who want to play right on their wrist.
Uncertainty about demand
Although gaming companies have the ability to enter the Apple Watch segment, it’s unclear whether any of them feel it is currently a worthwhile thing to do. So far no casino or software platform has announced any plans to provide their games to players using an Apple Watch.
The most obvious reason for this is uncertainty about the success of the Apple Watch itself. Analysts from Forbes believe that the device will be met with sub-par sales, and it’s unclear whether there’s enough demand for this wearable technology for it to gain any substantial market share in a world already dominated by smartphones and tablets.
The Apple Watch also requires an iPhone (version 5 or newer) for functionality. Given that players can already enjoy a rapidly growing number of high-quality games on virtually all smartphones (including iOS, Android, and Windows Phone devices), it remains to be seen whether the demand for smartwatch gaming is great enough to merit the development of casino apps for the device.


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Blue-chip NFT collection Bored Ape Yacht Club has frozen the leaderboard for players of Dookey Dash, the video game inspired by the popular non-fungible token brand.
For three weeks users who possessed Bored Apes’ “Sewer Pass” NFTs were able to play the Dookey Dash video game in an attempt to get the highest possible score, which on Wednesday afternoon Pacific Time, became locked to each individual token. When the leaderboard closed, sales volumes for the NFTs had clocked in just shy of $73 million, according to CryptoSlam.
Although the process is shrouded in mystery, Bored Apes’ creator Yuga Labs has plans to award gamers based on how high they scored. The top score will win a “key,” which is expected to lead to a prize that could carry significant monetary vale on the open market, considering the high value attached to Bored Apes’ NFTs. Some BAYC tokens have sold for more than $1 million.
Yuga Labs said via Bored Apes’ Twitter account that it had frozen the leaderboard and would share the results once the company had completed validation and reviewing the locked scores. Earlier in the day, Yuga Labs said it was removing some Dookey Dash scores from the leaderboard due to cheating.
During the three weeks, some Sewer Pass holders hired more experienced gamers to play on their behalf in an effort to secure a better score. Although the leaderboard is frozen, Sewer Pass holders are allowed to continue trading the NFTs among themselves for a week. Then, Bored Apes will award each Sewer Pass its prize based on its highest score.
Yuga Labs is calling the awarding phase "The Summoning."
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


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Mattel, Fisher-Price agree to pay $2.3M. penalty for lead excess
By JERUSALEM POST STAFF
Mattel Inc. and its Fisher-Price Inc. subsidiary agreed Friday to pay a $2.3 million civil penalty for importing and selling toys that contained excessive levels of lead, a violation of a 30-year federal ban on lead paint in toys.
The penalty is part of an agreement the companies reached with the Consumer Product Safety Commission and stems from a series of recalls in 2007 involving about 95 Mattel and Fisher-Price toy models, including Barbie doll accessories and Go Diego Go products.
Mattel, of El Segundo, Calif., and Fisher Price, of East Aurora, NY, deny having knowingly violated the law.
The commission said the civil penalty was the highest for violations involving importation or distribution of a regulated product and is the third-highest of any kind in the agency's history. The fine is tiny compared with Mattel's revenue of $5.92 billion in 2008.
UN chief calls for maximum restraint after Iran's attack on Israel


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One of New York’s most popular pastry destinations City Bakery debuts in Detroit on Monday, January 29 on the ground floor of the Fisher Building, marking its first expansion in the U.S. beyond the Big Apple.
Founded by Maury Rubin in 1990, City Bakery has developed a loyal following over the years. The shop is known for its hot chocolate delivered in signature blue and white-branded cups with massive homemade marshmallows (showcased at its annual Hot Chocolate Festival) as well as a hybrid baked creation — the pretzel croissant. The Detroit location will offer a similar menu with service Monday through Friday offering breakfast, lunch, dessert, and catering services.
Detroit has received heightened interest from outside investors and restaurant groups in recent years, but City Bakery’s decision to expand to the New Center neighborhood still feels surprising. For Rubin, though, the Motor City’s unique character and the stunning Fisher Building was a big draw. Customers, he says, would often talk about Detroit when visiting his location in New York and his own brief visit here left him “completely intrigued” and wanting to learn more. That interest eventually led him into conversations with several developers and property owners in the area. “Detroit is cool right now, I think, from a sense of ideas and development and then business opportunity. It makes incredible sense [to open here],” he says.
Rubin, who also operates eight City Bakery locations in Japan and five New York City Birdbath cafes, takes a hands-on approach with each new restaurant and designs the shops himself.
While it might be smaller than the two-level Union Square cafe, the Detroit shop features similar aesthetics with white vaulted ceilings and a blue square tile backsplash. The counter-facing banquettes alternate between gray and yellow upholstery balanced by circular wood tables. City Bakery’s counter tops are made from a recycled acrylic material called Alkemi. “I’m a sucker for big, beautiful, famous landmark buildings like the Fisher,” Rubin says of the shotgun space inside the New Center landmark.
City Bakery’s physical kitchen and commissary is located in the Fisher’s basement and shared with other incoming restaurants and pop-ups in the building.
New Center is still in a state of development that’s seen a number of restaurants come and go over the last five years. Rubin, however, is comfortable betting that the neighborhood will become as much of a draw as the Midtown corridor to the south and compares it to his early days opening City Bakery in New York. “City Bakery turned out to be one of the founding food businesses of Union Square and that’s a really incredible thing to be part of literally an entire neighborhood that is focused on recreating itself and improving itself,” he says.
Photographers Chris and Michelle Gerard received a first-look at the space ahead of next week’s anticipated opening. Take a peek around the galley-shaped bakery newcomer in the gallery below.
City Bakery opens from 7:30 a.m. to 6 p.m. Monday through Friday.


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Sony Pictures propels company's operating profit
This year for Sony is shaping up to be much better than last. Sony posted an operating profit of $495 million in its third quarter (ending Dec. 31st). This time last year the company posted a loss twice that size. However, when including the non-operating items, according to The Hollywood Reporter, the company reported a net loss, adding to a streak of eight quarterly losses.
The company expects to be profitable in 2013, which would be the first in five years, according to the report. Sony Pictures was partially responsible for the favorable forecast. The film division saw its revenue increase by over 30% to $2.23 billion and its profit up to $270 million. Last year's strong slate including "Skyfall," "Men in Black 3," "Hotel Transylvania," and "The Amazing Spider-Man" bolstered their intake.
The studio also has bragging rights for 2012 as it was the highest-grossing studio of the year. And while the studio's television arm saw a drop in television ad revenue, its overseas networks in India saw a boost that balanced out the deficit.
Currency fluctuations and a strong upcoming film slate have Sony optimistic about further profits, according to the report. The film division is expecting big numbers from its franchises, "The Smurfs" sequel and the upcoming "Spider-Man." In addition, the weak Japanese yen against the euro and dollar have made Sony's electronic products cheaper abroad.
“If the current exchange rates continue, this will have a major effect on profitability for the next financial year,” said CFO Masaru Kato.
Gina Hall is a Los Angeles-based writer and producer with more than 10 years experience in television, documentary and feature film production. She is a graduate of USC’s School of Cinematic Arts and blogs for the Huffington Post at huffingtonpost.com/gina-hall
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If you remember, during Google's Honeycomb showcase in the beginning of the month, one of the tablet-optimized apps demoed was made by CNN. Considering CNN is one of the Honeycomb/XOOM launch partners, the new app showed up in the Market like clockwork for an easily digestible price of free. For those who need a refresher, here's the video from the presentation again:
The CNN app features a swipable navigation bar on the left-hand side and a grid story layout on the right side.
The raw power behind NVIDIA's soon-to-be ubiquitous Tegra II chipset makes for some interesting possibilities when it comes to gaming. However, there are certain pitfalls when one manufacturer leap-frogs the competition. Being the first to market in this latest generation of system-on-chips, NVIDIA has developers and exclusives pretty much at their beck and call. Who are you doing to develop for, the company with a multitude of devices hitting the market right now, or the "other guys" without any firm release date?
Google's Mobile blog (as well as their Finance blog) announced an update to the Google Finance mobile webpage on your Android (or... iOS) smartphone. The changes certainly aren't subtle: Google has streamlined finance to appear very similar to all the in-browser Google mobile web-apps. As an Android user, you may be asking why Google bothered - there's already a Google Finance app on the Android Market. The answer? The website, simply put, is just a lot more awesome.


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enalog business solutions takes over Scanpoint Europe
enalog business solutions GmbH has announced that it has taken over – with immediate effect – the business shares in Scanpoint Europe GmbH from its previous owner, U-plus Umweltservice AG. U-plus Umweltservice AG shall be concentrating on its core business areas in the future, namely waste disposal and recycling services.
enalog is planning to keep to the franchise concept which Scanpoint has successfully built up over the last few years. Vienna-based enalog business solutions GmbH is a service provider within the area of information technology. With its doculodge brand name, enalog sells products and solutions from the area of business process outsourcing.
Petra Greiffenhagen, managing director of Scanpoint Europe GmbH, sees the takeover as a positive step, “enalog business solutions GmbH is an ideal partner for our business. The services and sites of the two companies complement each other very well indeed which means that our franchise chain can continue to expand.”
Scanpoint Europe GmbH, which has its head office in Waldbronn, is the franchisor of the Scanpoint franchise network. Scanpoint partners help their customers to archive and manage their documents in an efficient manner. They scan the documents and save them on digital media forms which the customers can access at any time.
scanning services for final consumers
» to the franchisor


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Horizon Pharma (HZNP) stock toppled to a month-low Monday despite "nothing alarming" in its Q4 report, though sales of Ravicti were "unexpectedly disappointing" and 2017 sales guidance lagged, said Mizuho analyst Irina Koffler.
Horizon stock, though, fell 5.6% to 16.48, after earlier falling as much as 7.4%. Shares are now trading below their 50-day moving average and have spent two months below their 200-day average.
For Q4, Horizon reported $310.35 million in sales, up 27% vs. the year-earlier quarter and narrowly topping views for $309.6 million. Earnings per share minus items were flat at 64 cents, but crushed the 51-cent consensus model.
IBD'S TAKE: Horizon's partnership with Bristol-Myers Squibb in kidney and bladder cancer is taking advantage of the emerging immuno-oncology field which, analysts say, could be worth $25 billion by 2025. Get more on the potential opportunity via this deep I-O dive.
Brand performance in Q4 was mixed, Koffler wrote. Duexis sales fell 15.7% year over year to $46.2 million but beat expectations. Vimovo sales lagged at $31.6 million vs. analysts' model for $33.1 million, and were down 32.8%. Pennsaid 2% solution sales, on the other hand, beat by $11 million at $96.6 million, rising 74.4%.
"The company appears to have stabilized its average net realized price for Duexis, Vimovo, Pennsaid 2% and Rayos in 2016, declining to $496 in Q4 2016 from $504 in Q4 2015," Koffler wrote. "It is not yet clear how ANRP will evolve under the new (pharmacy benefit manager) contracting model."
Orphan business was also weak, with Actimmune sales coming in at $24.2 million, missing views for $25.8 million and dipping 13.9% vs. last year, Koffler wrote. Actimmune is being tested with Bristol-Myers Squibb's (BMY) Opdivo in kidney and bladder cancer.
Ravicti sales of $32.9 million were well below expectations for $44.2 million, but only fell 4.6% on a year-over-year basis.
Guidance for 2017 sales of $1.24 billion to $1.29 billion bracketed the consensus for $1.28 billion, but was short at the midpoint. Sales would be up 20.5% at the midpoint of guidance.
Koffler kept her 25 price target and buy rating on Horizon stock.
As for Bluebird, the stock rose 7.1% to 87.85, hitting a 14-month high and still in a buy zone after breaking out of a cup-with-handle base at 78.90 on Feb. 14. Cara stock is extended from its Jan. 25 breakout at 12.84. Its shares hit a 13-month high of 17.20 on Feb. 1 and jumped 7.9% Monday, to 16.21. Ligand retook its 50-day moving average, a key support line, rising 7% to 107.38.


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Personalization while you wait at FernEllie in New Milford
NEW MILFORD — Fernando Martins and his business are settling in nicely in Connecticut.
Martins opened FernEllie Creations, an embroidery and personalization shop on Church Street, in October and business picked up faster than he expected.
“Small Business Saturday was insane here,” he said of the Saturday following Thanksgiving. “There were so many people who came in. It’s such a different feeling. It’s awesome here.”
Martins makes the comparison to Orlando, Fla., where he previously had his shop. The mall in which he was located closed with little notice and he had two weeks to close the shop and figure out what to do next.
At about the same time, his wife lost her job her Florida, so they packed up a truck with their belongings, the inventory from the shop and headed north with their three children. The plan was to visit friends in Springfield, Mo., first and then head to Danbury, where Martins had lived in the early 2000s and still had connections.
En route, they decided to come to Connecticut first and they never looked back.
“The kids loved it so we stayed here. We found a house in New Milford within five days,” he said. “We loved the town. It’s totally different than what we were used to. Orlando is getting to be dangerous now. Crazy stuff happens there all the time. It’s all you see on the news.”
His wife Ellie has found a good job in the area and his children are in the local school system after being home-schooled in Orlando.
“We came here and it’s, like, this is perfect,” Martins said.
It was a good move for the business, as well, he said. He moved his business to an online model after the mall in Orlando closed. A post office employee in New Milford, after seeing Martins ship dozens of packages every day, suggested he open a brick-and-mortar store, as well.
Martins was instantly attracted to the space on Church Street, even though it had been vacant for about two years and the interior needed a lot of work.
“I didn’t expect it to work out as well as it has,” said Martins, who is originally from Brazil. “I thought it would take a long time to get a following and for people to find us.”
Martins said he started the business selling clothes at a flea market. The initial investment into the business was $300.
Nelson Merchan, a business adviser with Connecticut Small Business Development Center, is working with Martins to grow the business. He said the uniqueness of FernEllie is the main reason it has been successful in the area.
“Fernando has created a store like no other, which has been a very nice addition to New Milford,” Merchan said. “Their customers cannot believe that a personalized message/name can be embroidered to a high-quality product while they wait. No need to wait weeks to get the product.
“As Fernando wants to continue growing his business, we are working on the sales and marketing plan and the financial projections,” he added. “We have worked on enhancing the online presence, too. As the holiday season created more demand than he anticipated, Fernando had to concentrate his efforts on meeting their customer orders.”
FernEllie offers a variety of items that may be personalized. The children’s section includes shirts, backpacks, hats, lunch bags, hand puppets and stuffed animals from Cubbies. He said gifts for brides, such as makeup bags and robes, are hot sellers in March and April ahead of wedding season.
Martins said FernEllie differentiates itself by offering personalized embroidery for orders as small as one item or as many as 100. The personalization is done in a matter of minutes, too, allowing customers to wait while the item is embroidered.
“Go grab a cup of coffee and it will be ready when you come back,” Martins said. “Customers can also bring in their own items to be personalized. Most places won’t do that.”
Martins said he will work with Merchan on a growth plan that may include hiring employees and opening another store.
FernEllie Creations may be reached at 203-826-0252.
The writer may be reached at email@example.com; 203-731-3338


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Google is providing $ 1.5 million to expand media literacy in Southeast Asia
Google, through its philanthropic arm Google.org, will donate $ 1.5 million to the ASEAN Foundation to advance media literacy education in the 10 countries of the Association of Southeast Asian Nations, the company announced today at the ASEAN Digital Literacy Forum.
“Often times, people in Southeast Asia lack the skills to interpret the information they find online – and efforts to change that have historically been fragmented and inadequate. Since we’ve been 10 years old since UNESCO’s First Global Media and Information Literacy Week, we want to ensure more Southeast Asians – especially first-time users – can navigate the Internet with confidence, “wrote Stephanie Davis, Vice President, Southeast Asia, in one Blog post.
In addition to the $ 1.5 million grant, Google employees plan to donate their time and technical expertise to the ASEAN Foundation and its beneficiaries. The aim of the contribution is to equip more than 1,000 trainers with new skills and materials so that they can train more than 100,000 people – from young people to older Internet users – in the next two years.
As part of the ASEAN Digital Literacy Forum, Google and the ASEAN Foundation also released a comic book to illustrate how misinformation can spread and what to do to prevent it.
“Whether it’s updating Google and YouTube’s product guidelines, improving the work of fact-checkers, or helping organizations like the ASEAN Foundation, we will continue to do everything we can to promote media literacy in Southeast Asia and beyond,” added the Contribution.


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Monocle Magazine – Issue 163 May 2023
Monocle’s third annual Design Awards honour the top 50 objects, places and designers that have popped onto our radar over the past year. Expect stunning buildings, cosy furniture and saké in cans. Elsewhere in Issue 163, we find out how Russians recruit spies (and why they need to), set up home at the world’s premier property fair and step out in spring fashion.
Based in London and acclaimed the world over, Monocle has delivered a unique briefing on global affairs, business, culture, and design since it was founded by Tyler Brulé in 2007. Alongside the magazine, Monocle has created a 24-hour radio station, a series of travel guides, coffee-table books, a film-rich website, retail ventures around the globe, and cafes in Tokyo and London.


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Xiaomi, Redmi split, establish themselves as independent brands: Report
Beijing: Chinese electronics major Xiaomi has made an announcement, on Thursday that it is making its way away from Redmi.
Without revealing the reason behind this move, Xiaomi said that Redmi will now be an independent brand.
Redmi was a subsidiary of Xiaomi, which was originally introduced as a budget smart phone by none other than Xiaomi in July 2013.
Gizmo China reported late on Thursday that Xiaomi will make ‘Redmi’ an independent brand. The launch event of Redmi as an independent brand will take place on January 10, 2019 in China.
During this event, Redmi will launch its first smartphone with a 48-megapixel camera sensor.
It is to be mention that Redmi and Redmi Note series are very popular among users as they use less-expensive components and thus is more cost-effective.
However later, the founder of Xiaomi, Lei Jun, revealed the reason for making Redmi an independent brand. He said that the main reason behind separating both Xiaomi and Redmi brands is their ‘focus’. He said that Mi and Redmi brands are totally different.
He further said where the Mi focuses on high-end devices, the Redmi focuses on value-for-money budget smart phones.
Also, the Redmi devices are primarily sold through e-commerce platforms while, Mi devices are not e-commerce focused,” Lei said on a Chinese micro-blogging site.


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Raising Cane’s: America’s fastest-growing restaurant chain
- Raising Cane's has been named the fastest-growing restaurant in America
- Dozens of new restaurants are planned in multiple countries for 2018
- The restaurant sets itself apart from the competition in a number of ways
Move over KFC and Chick-fil-A: there’s a new fried chicken aficionado that’s taking the United States by storm.
Louisiana-based fried chicken restaurant Raising Cane’s has been ranked by Business Insider as the fastest-growing chain restaurant in the United States, with sales rising a staggering 25.9% in 2016. The chain has grown rapidly since being founded in Louisiana in 1996 by Todd Graves and Craig Silvey.
The chicken fingers-centric restaurant is still smaller than its competitors but growing rapidly. Armed with a minimalist menu and focus on quality and customer service, the growing-growing chain restaurant has quickly garnered a loyal following and continues to expand across the United States and the Middle East.
One key advantage is its focus on the ‘fast’ in fast food, with a recent study by QSR indicating that it boasts the fastest drive-thru speed of service in the United States at just two minutes and 48 seconds.
But where are its locations? What’s its menu like? Here’s all you need to know about the restaurant’s locations, menu, why it’s called Raising Cane’s and its current worth.
Raising Cane's focus on quality chicken has been one of the keys to its success recently
Raising Cane’s locations
Raising Cane’s currently has more than 360 locations in 23 states across the United States, concentrated primarily in the South and Midwest. It also has operations in a number of Middle Eastern countries, including Saudi Arabia, Kuwait and Bahrain.
Despite being fairly small in terms of locations compared to most other chain restaurants in the United States, Raising Cane’s is growing rapidly, with 59 new restaurants opening in 2016 alone. For 2018, a whopping 80 new restaurants are planned across the United States and Middle East.
Raising Cane’s menu
In sharp contrast to most other fast food chain restaurants in the United States, Raising Cane’s employs only a minimalist menu with just four chicken finger and chicken sandwich options, plus a kids’ meal. Side orders of French fries and Texas toast are also available.
It’s this focus on efficiency and simplicity that many believe has allowed Raising Cane’s to grow quickly and amass an ever-growing fan base.
Why is it called Raising Cane’s?
The restaurant takes its name from co-founder Todd Graves’ yellow Labrador dog, Raising Cane.
The restaurant’s current mascot, Raising Cane III, was announced publicly by Graves on January 27.
How much is Raising Cane’s worth?
In 2016, Raising Cane’s did $640.5 million (£458.3 million) in sales.
The net worth of co-founder Todd Graves is estimated to be approximately $150 million (£107.3 million).
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Panaji (Goa) [India], June 9 (ANI): The director of Goa Tourism Department Menino D'Souza on Tuesday said that hotels will be permitted to operate if they comply with all the guidelines, following relaxations by the central government amid #Unlock1.
"Centre has permitted hotels to open but here all hotels which are ready to comply with guidelines, have to apply to Department of Tourism and after we see they're complying with all guidelines we'll permit them. They've to give declaration for the same," said Menino D'Souza.
"We've opened the website and received almost 30 applications from hotels. We will scrutinise them and after the government takes a call on it, we will allow them to open hotels depending on how they are complying with these guidelines," added D'Souza.
Hotels, restaurants, and other hospitality services, except the ones in the containment zones, have been allowed to open from June 8, as per the guidelines issued by the Ministry of Home Affairs (MHA) for graded re-opening of COVID-19 lockdown. (ANI)


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Onetime highflying tech executive Ray Lane testified during a sex discrimination trial involving his former employer, Kleiner Perkins Caufield & Byers, that he made a mistake in judgement involving the harassment of a female venture capitalist at the firm, and that he feared for the woman's safety.
HBO's standalone streaming service will launch on Apple Inc devices next month in time for the season premiere of hit series Game of Thrones, the network said, a move to reach millions of viewers who do not subscribe to pay television packages.
Starbucks Corp will begin offering delivery in New York City and Seattle later this year, when it also plans to expand mobile order and pay services across the United States.
Susanna Khoo revisits several incidents of online retribution and considers the danger of it all.
The 21-year-old woman was asleep on the New York subway when a man thrust his hand up her skirt and groped her in a shocking sexual assault.
An Indian woman has accused a driver contracted with online taxi company Uber Technologies of trying to sexually harass her after she hailed his cab, prompting the US-based firm to suspend the driver and launch an internal investigation.


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Irish Top Ten Week Ending 28/07/2012 & Week Ending 21/07/2012
It is possible, that we have just passed the high point of Fifty Shades Of Grey in the Irish market. The week ending 28th July saw sales of the series drop by 20.2% from 46,843 in the week ending 2st July 2012 to only 37,381.
It is still a remarkable haul and just to reinforce that, in the four chart weeks of July the series has sold over 140,000 books. Recall too that the Nielsen data does not cover the entire market and while some weighting is built into the figures, for a book like Fifty Shades that weighting might not be correct.
Even so it seems like the highest levels of sales has now passed by and unless we see a resurgence later in the year, perhaps one prompted by Christmas, it seems likely that sales will slide downwards. The key question is how quickly, it’s a long way from selling 37,000 copies a week to selling the 3-4,000 a week Suzanne Collins has been racking up, but most authors would be very pleased with those numbers.
The six top ten slots the two authors have held over the summer has meant that few other authors have gained much air. John Banville’s Ancient Light has performed well and other Irish authors, Paul Howard, Sinead Moriarty, Sheila O’Flanagan and Claudia Caroll have managed to climb into the chart in July proving that while the Irish book buying public is VERY enthused with erotica (at least for now) some of them haven’t forsaken the less exotic Irish authors.


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Old-time radio hobbyists are abuzz over the latest prototype vehicle from Chrysler which was unveiled today at the 2009 Detroit Auto Show. Marking the 110th anniversary of the event, the Motor City's third biggest car maker showed off its revolutionary cat-whisker, crystal-powered subcompact.
Dubbed the "Feline," its design is similar to Buckminster Fuller's1933 Dymaxion. Chrysler's President Tom LaSorda told attendees, "At first we considered steam, but decided to think outside the box with a piezoelectric-powered vehicle."
Critics claim that the weight of the Feline is the car's biggest drawback. But LaSorda laughs at those who dismiss the revolutionary concept car. He points to the safety element.
"Since the Feline clocks-in at 145,000 pounds, any other automobile, or 18-wheeler, or train - for that matter that hits it will immediately be sliced in two. Destroyed. That means our driver will be virtually untouched in the event of an accident."


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Lone Star Brewing Celebrates Crawfish Season with Limited Edition “Crawdillo Club” Merchandise and Statewide Events
Lone Star Brewing is leaning into crawfish season in Texas with a new merchandise line and events this April in Houston and San Antonio. As a nod to Lone Star’s iconic armadillo mascot, the new merchandise capsule features the armadillo wrestling a Lone Star beer away from a crawfish. The “Crawdillo Club” merchandise capsule includes a limited one-time print t-shirt, hat, bandana and shop rag, all available online now until it sells out. All of the merchandise was produced in Texas with the help of Morgan Mercantile in Fort Worth.
The crawfish or “mudbug” has become a staple in the state of Texas. Thanks to the state’s proximity to Louisiana and the diversity of cities like Houston, Texans have embraced multiple styles of crawfish boils, whether it be purist, featuring spices in the boil, or made with a Texan twist using spices on the shell, or even the Vietnamese style made with lemongrass and fish sauce.
“It’s not the beginning of spring until you get invited to a backyard boil or see crawfish for sale at a local grocer,” said Lone Star’s Senior Brand Manager Daniel Crawford. “We wanted to celebrate this time of year by leaning into this beloved delicacy with a merch capsule and event series.”
As crawfish season has expanded throughout the state from backyard boils in Houston to festivals in some of the state’s major cities farther west, Lone Star Brewing is embracing the Cajun delicacy by sponsoring several crawfish-focused events including:
- April 1-2, 2022: Big A** Crawfish Bash – Houston, TX
- Crawfish, live music, drinks and more are available at the Big A** Crawfish Bash, sponsored by Lone Star Beer. This year’s festival benefits Camp Hope, Texas Special Olympics and various local education foundations. Advance “all you can eat” tickets are available online for $30. Onsite parking is also available for $20.
- April 9, 2022 – Crawdillo Club – Houston, TX
- Flint Field Tx is excited to present ‘Crawdillo Club,’ a celebration of Texas, mudbugs and baseball at the Union HTX, featuring Lone Star Beer. The event will feature viet-cajun crawfish from Saigon House, drinks, live music, vendors and more. Guests will also have the opportunity to meet the local sandlot baseball team, the Texas Oil Dawgs. Tickets for the event are available for $40 a person (kids 12 and under are free), and can be purchased here. Tickets include a crawfish plate, non alcoholic beverages, live music and more.
- April 21, 2022 – Battle of the Boil – San Antonio, TX
- The second annual Battle of the Boil, benefitting Saint City Culinary Foundation, will be sponsored by Lone Star Beer. The event features 8 teams with chefs and contestants from Austin and San Antonio going head to head to see who has the best boil in south Texas. Live music from the Texases, and of course crawfish, are all included in the $45 ticket price. The event is 21 and up only.


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However, executives also cited decelerating consumer demand beginning in late June, leading the company to revise its 2022 forecast downward. Still, the report seemed more upbeat than those from Target, Kohl’s and Macy’s, where inventory gluts and revised downward forecasts for 2022 overall were disclosed.
Nordstrom is seeing the benefit of operating upscale department stores catering to higher-income customers, who haven’t been feeling the impact of inflation as much as lower-income consumers and offering a relatively high proportion of more fashionable merchandise suitable for wear-to-work, special occasions and going out, which Americans have been gravitating toward this year. It’s been coming at the expense of declining discretionary spending in casual, active and home areas as of late.
In addition, Nordstrom’s Anniversary Sale, which offers early access to new fall merchandise at a discount for a limited time, and was this year timed almost entirely in the second quarter, is a unique competitive advantage. The company also has more room to grow since its declines during the heart of the pandemic were larger than most of its competitors.
Net earnings for the quarter ended July 30 came to $126 million, or earnings per diluted share of $0.77, versus $80 million, or $0.49 per diluted share, in the year-ago period.
Earnings before interest and tax were $202 million, compared with $151 million during the same period in fiscal 2021, primarily due to higher sales, partially offset by higher markdowns and higher labor expenses. Adjusted EBIT of $210 million for the second quarter of 2022 excluded costs associated with the wind-down of Trunk Club.
Net sales in the second quarter reached $3.99 billion, a 12 percent increase from $3.57 billion in the year-ago period.
“We delivered solid results in the second quarter, with top-line growth, increased profitability and continued progress in our strategic initiatives,” Erik Nordstrom, chief executive officer of Nordstrom Inc., said in a statement. “While our quarterly results were consistent with our previous outlook, customer traffic and demand decelerated significantly beginning in late June, predominantly at Nordstrom Rack. We are adjusting our plans and taking action to navigate this dynamic in the short term, including aligning inventory and expenses to recent trends, and we remain confident in our ability to deliver on our long-term strategic and financial goals.”
During a conference call with industry analysts, the CEO, along with Pete Nordstrom, president and chief brand officer, and Anne Bramman, the chief financial officer, indicated some key trends happening, among them:
- Softness in demand for clearance product.
- Customers not trading down and wanting newness.
- A deceleration of sales starting in late June and most evident at Rack in its lowest-priced merchandise.
- Softness in sales of private label, where there is new leadership and work underway to revamp the program.
- Strong sell-through on higher-priced items, with double-digit growth in designer but some deceleration seen there.
They also cited reducing inventory levels, and expectations of exiting the year in a “clean inventory position.”
Other areas highlighted were capital investments, primarily in supply chain and technology capabilities, and priorities in reducing leverage and returning cash to shareholders, and taking a “measured” approach to share repurchases.
Another important initiative is at Rack, where the merchandise is being repositioned to increase the supply of premium brands and the marketing is being focused more on growing awareness of the off-price brand. Ninety percent of the top brands sold at the full-line Nordstrom department stores are sold at Rack, and last quarter, sales of the top 100 brands at Rack increased 17 percent. The strategy involves shifting away from lower price points items that have not resonated with customers.
In a recap of category performance during the second quarter, executives said that men’s apparel had the strongest growth versus 2021, and shoes, women’s apparel and beauty also had double-digit growth, as customers updated their wardrobes and returned to occasions. At the Anniversary event, sales increased 5 percent.
The timing shift of the Anniversary Sale, with one day falling into the third quarter of 2022 versus roughly one week in 2021, had a positive impact on net sales of approximately 200 basis points compared with the second quarter of 2021.
“We elevated the customer experience and increased engagement during this year’s Anniversary Sale, and we’re proud of our team’s execution and dedication to customers,” said Pete Nordstrom. “As we look to the second half of the year, we are aggressively right-sizing our inventory while investing in supply chain and merchandising capabilities that will benefit us in 2023 and beyond.”
In its revised outlook Nordstrom is now projecting 5 to 7 percent revenue growth for 2022. Previously, the Seattle-based company projected 6 to 8 percent growth.
Earnings per share, excluding the impact of any share repurchase activity, are projected at $2.30 to $2.60, versus the previous forecast of $3.38 to $3.68 a share.
Adjusted EPS, excluding share repurchases, is seen at $2.30 to $2.60 versus the earlier projection for $3.20 to $3.50 per share.
For the Nordstrom banner, net sales increased 14.7 percent, improving sequentially from the first quarter versus pre-pandemic sales levels.
At Nordstrom Rack, net sales increased 6.3 percent compared with the same period in fiscal 2021, improving sequentially from the first quarter versus pre-pandemic sales levels.
Digital sales increased 6.3 percent compared with the same period in fiscal 2021. The timing shift of the Anniversary Sale had a positive impact on company digital sales of approximately 400 basis points compared with the second quarter of 2021. Digital sales represented 38 percent of total sales during the quarter.
“The uncertainty is significant,” said Erik Nordstrom during the conference call with analysts. “You can make the case that things can get better quickly, or a credible case that it’s going to be tough.
“The first thing we need to do is to bring inventory levels down,” he said. “They’re not super high right now. But we need to get our inventories down to where we can be really responsive no matter where it (consumer demand) goes, how it plays out for the rest of the year. We really must address the less productive parts of our inventory and clean it up so we can be flexible and agile to whatever the customer demands are.
“We put customers at the center of everything we do,” said Nordstrom, echoing a familiar company theme. “We have a strong balance sheet. We are well positioned to capture pockets of demand.”


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Why climate tech startups may be positioned for significant VC investment growth
Posted by Grace Townsley
September 8, 2023
Over the past decade, the climate tech sector has emerged as one of the most promising sources of positive global innovation — generating the kind of solutions that have the potential to benefit our world for generations to come.
Historically, venture capitalists have strongly supported climate tech companies, driving the growth of numerous startups in the industry. But between late 2021 and early 2023, a noticeable shift occurred. The previously fast-growing VC investments in the climate tech sector sharply declined, mirroring broader investment and growth trends in the global economy.
Is this funding dip an isolated issue, or a symptom of a larger shift in venture funding patterns? In this article, we’ll take a look at the key factors contributing to the brief pullback — and surprising rebound — of the climate tech sector.
Why did VC investment in climate tech suddenly decline?
Between 2021 and 2023, the global economy grappled with a series of significant challenges that impacted the investment climate as a whole. Rising inflation, escalating interest rates and soaring energy prices all created a worldwide ripple effect, leading to a broader decline in VC investments across most sectors. The climate tech arena wasn’t the only industry hurt by declining funding — economic uncertainty caused investors to act with greater caution in every funding deal.
In Q2 of 2023, total venture capital investment dropped to just $29.4 billion — a 34% decline from Q1, and well below the $61.3 billion invested in Q2 of 2022. Sectors like information technology, and business and financial services declined by over 45% in Q2 of 2023. Climate tech may be seeing a pullback, but in this VC market, it’s certainly not alone.
In addition to market uncertainty, investors are shifting focus
When the market becomes volatile, investors tend to shift their funding away from unproven innovations, and towards more defensive investments. Defensive investments are those expected to be less volatile, while still generating healthy returns, no matter what the economy does. They’re typically less risky than growth investments, like emerging tech, but may offer lower returns.
Some common defensive investments VC companies move towards when the economy is uncertain include healthcare, energy, and consumer goods and services. It’s not surprising, then, that VC investment into the healthcare sector grew by 10% in Q2.
Climate tech holds promise, but when the global market is on shaky ground, many investors are looking for more “stable” investments in the short term.
Climate tech companies face a unique set of growth challenges
Climate tech investment dipped between mid-2022 and early 2023. But over the past few months, it has surged to near-peak levels. In Q2 2023, VC investment in the climate tech industry in particular jumped to over $980 million, nearing the previous record of over $1.1 billion in Q1 2022. This dip and resurgence is likely caused, at least in part, by some of the unique challenges the climate tech sector faces:
1. Climate tech is capital intensive
Climate tech startups can require significant capital to foster the development and deployment of their innovative technologies because these companies often create integrated hardware, software and product-based solutions. Unlike AI tools or information technology software, climate tech includes green infrastructure products like concrete, HVAC systems and building materials. These products have high overhead manufacturing and transportation costs, making the startups that produce them particularly pricey to launch and grow.
The capital-intensive nature of some climate tech companies can make them less appealing to venture capitalists, particularly when the economic environment is challenging.
2. Climate tech has a long time horizon
The journey from conceptualization to commercialization for complex climate tech products can be a long one. The development of innovative technology takes time, and navigating manufacturing regulations and supply chain delays further adds to the time it takes to get a viable product to market.
Investors, especially in uncertain times, tend to seek investments that can generate a quick return on investment, with fewer complications in the process. The long lead time for climate tech companies can be a deterrent, even if the product is transformative.
3. Climate tech is strongly impacted by regulatory challenges
The regulatory landscape for climate tech startups is a third significant challenge that keeps some VC companies from funding the startups that need it most.
Climate tech companies often find themselves in sectors that are subject to complex and frequently changing regulations, like commercial or residential construction or infrastructure development. The potential for damaging regulatory shifts can make these companies appear too risky for cautious investors.
While climate tech investment may have temporarily dipped, it’s certainly not out
If Q2 2023 is any indication of the future of climate tech, there are good things ahead. Despite the hurdles these companies face and the hesitations VC companies have, climate tech is the center of world-changing innovation, ushering in the next generation of sustainable, environmentally friendly solutions.
Looking ahead, it’s clear that climate tech is full of untapped potential. Even without the kind of multi-billion-dollar investments other sectors are experiencing, climate tech is still performing better than most other emerging tech industries. The industry is a long-term growth sector, meeting the growing demand for clean, future-focused and broadly beneficial technologies that help every one of us enjoy a healthier planet.
Want more? Since 2006, Escalon has helped thousands of startups get off the ground with our back-office solutions for accounting, taxes, HR, payroll, insurance, and recruiting — and we can help yours too. Talk to an expert today.
This material has been prepared for informational purposes only. Escalon and its affiliates are not providing tax, legal or accounting advice in this article. If you would like to engage with Escalon, please contact ushere.
As a professional copywriter in the finance and B2B space, Grace Townsley offers small business leaders big insights—one precisely chosen word at a time. Let's connect!


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Sven Raeymaekers, partner at GP Bullhound, looks at how value is shifting in the value chain for driverless cars and what it means to whom as we move through a change as momentous as the combustion engine replacing the horse and cart.
The 1977 Vienna Convention on Road Traffic governs road traffic in over 75 developed countries and requires a driver to always be in full control and responsible for the behaviour of their vehicle. Yet Elon Musk has promised Tesla will be selling fully self-driving cars within the next year, while Waymo has already driven 10 million autonomous miles on public roads and is now preparing to launch its robo-taxi service.
In this new world of driverless cars, profits are expected to shift to areas where traditional car makers do not have a legacy, just as they did and in the mobile device industry, where value moved from hardware to software and ecosystems. BCG estimates the average profitability of classic vehicle components will only increase by 3% to 2035, while autonomous and electric vehicle components are set to increase by over 25%, and data and connectivity by over 27%.
The stakes surrounding autonomous driving are momentous. There’s the potential to rid the transportation industry of its single largest cost, human drivers, while at the same time making transport safer, cheaper and arguably more enjoyable. In less than half a century, we’ve gone from not daring to dream that driverless cars would be safe enough to drive on our roads, to being on the verge of at least partially autonomous vehicles become reality.
Much of this development is being driven by tech giants and new players in the automotive space. In August 2018, of the 56 companies who held a permit to conduct autonomous vehicle tests in the state of California, an astonishing 71% were native tech companies, all ready to seize control of the end user in this new era of mobility. They include tech titans such as Google, Apple, Intel and Samsung as well innovative start-ups such as Drive.ai, Zoox, and Pony.ai.
Who is winning the race to driverless? Despite Waymo (Alphabet) and Cruise Automation (General Motors) pulling out ahead, it’s important to note that the race to autonomous is won city by city and data model by data model, leaving ample time for smaller player, such Five AI in Europe and SenseTime in Asia, to claim their stake.
Cellular (C-V2X) or Wi-FI-based (DSRC/ITS) connectivity is the often-overlooked but crucial partner of autonomy. Cars that can connect to and communicate with each other, infrastructure, with pedestrians and with the network are integral to driverless vehicles being safe and efficient.
While ECM data has been used by manufacturers since the late 1990s, the few hundreds of kilobytes of service data can impossibly be compared to the volumes generated by tomorrow’s array of vehicle sensors, generally estimated to be coming in at around 4 terabytes per hour. This explosion of data, effectively turning cars into data centres on wheels, will require manufacturers to tread carefully if they are to avoid Facebook-Cambridge Analytica type of data scandals.
Irrespective of when fully autonomous vehicles will begin to hit the mass market – the consensus seems to be sometime between 2020 and 2025 – it will probably not be until 2050 that driverless cars are ubiquitous on our roads. Until that day comes, there are several issues that need addressing.
One of the biggest of these hurdles is consumer acceptance. Safety perceptions of autonomous vehicles has fallen in the past few years. Since 2016, the number of people who trust and would travel in a fully autonomous vehicle, with no human input, has decreased from 47% to 28%.
There’fs also an urgent need for regulatory clarifications regarding safety, insurance, and cyber security to remove barriers, set standards, and proactively engage in autonomous driving development. Stakeholders have called for regulatory clarifications and revised frameworks, to update legislation which could never have envisioned the pace of technological change over recent decades.
We are about to see the most fundamental change in terrestrial transportation since combustion engine vehicles replaced horse carts, but only once legislative frameworks are re-evaluated, can autonomous driving be given the green light.
The author of this blog is Sven Raeymaekers, partner at GP Bullhound


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3 minute read
The bride-to-be was branded 'immoral' by online commenters for cancelling her destination wedding.
The Glee star is not thought to be wearing a life jacket
The former Home And Away actress is turning heads with this new move.
She's bumping along nicely!
Details of the frightening incident were posted online
"In the last year he’s really turned on me and just been vicious," she said in the TikTok video.


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Bangalore, India – WIKA Instruments India Pvt Ltd, a wholly-owned subsidiary of WIKA Alexander Wiegand SE & Co KG, Germany, a global market leader in pressure and temperature measurement technology, has recently launched a Mobile Calibration Van for maintenance and repair at the doorstep of clients. The company has transformed an initiative born out of the need to maintain equipment during COVID-19 lockdown into a value-added service to provide services at the customer’s doorstep, delivering convenience for service.
Following the success of the Mobile Calibration Van in Chennai, WIKA is now bringing it to Bangalore. The mobile vans will be strategically placed to ensure that they cover every important location. This mobile van is ideal for large, multi-site businesses with a large amount of measuring equipment that must be available 24 hours a day. The company intends to introduce mobile calibration vans in Northern and Western India.
Customers can now book appointments through various channels such as toll-free numbers, email IDs, and Web App from the comfort of their office or home, thanks to the Mobile Calibration Van’s doorstep delivery of services. These mobile laboratories can travel to facilities to calibrate equipment that must be available 24 hours a day, seven days a week, optimizing costs and shipping time. At the end of the calibration, a report with the measurement error is provided. It measures the value before and after calibration, allowing clients to determine the device’s functionality.
“Post sales Service and Quality of the products are always the most important parameters for acceptability and dependence on any product,” says Gaurav Bawa, Managing Director and Sr Vice President, WIKA India. “In our endeavor to give the best to the customers, we came up with the concept of mobile calibration vans—to take servicing to their doorstep, instead of them shipping the machine to us, which used to be the general practice.”
“COVID lockdown has taught us a lot. If you have a will, you have a way, and that is exactly how these vans were born. Maintaining calibrations of equipment in industrial units is essential for effective production. These vans are equipped with a master switch that helps in calibration services without any displacement or damage to the equipment,” he further adds. “These calibration vans have been able to rule out any delay in transportation and helped us to initiate one of the best practices for WIKA India. Precision engineering market is expected to grow given the technology disruptions and call for services will also increase with it. We hope to gear up for the challenges through such innovative measures.”
Image Source: WIKA Instruments India Pvt Ltd


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Kroger shares jump amid talk of Alibaba alliance or merger to combat Amazon
Looking to fight back against Amazon's move into the grocery business, Cincinnati-based Kroger is reportedly eyeing an alliance with the Seattle juggernaut's nemesis: China's Alibaba.
Industry speculation has Kroger exploring everything from a technology alliance to an outright acquisition by the Hangzhou-based tech company. Such an epic takeover – which could easily top $50 billion – would be four times larger than last year's acquisition of Whole Foods by Amazon that sent traditional grocers scrambling to boost their digital capabilities.
Senior Kroger executives met with senior Alibaba officials last month in China, the New York Post and Reuters reported, citing unnamed sources. While details of a potential partnership were not revealed, an arrangement of some type was disclosed by of all sources, China's Ministry of Commerce.
“Alibaba has teamed up with Kroger … to speed up the integration of online and off-line sales,” the Chinese agency said in a statement on Jan. 13.
Kroger shares rose Thursday as investors pondered the merits of a pact or a takeover of Kroger by Alibaba. Kroger stock climbed as high as $30.46 on Thursday, up 3.3 percent. Shares closed at $30.26, up 2.7 percent.
Alibaba at the least could provide a digital payment platform to create stores that would not need cashiers or checkout stations. That's something it has done in China and which Amazon introduced earlier this week in Seattle with a new Amazon Go store.
With 2,800 stores across the U.S., Kroger could provide Alibaba a massive American platform to compete against Amazon. The Cincinnati-based grocer is the U.S.'s largest supermarket chain. Further, Kroger could direct some business to Alibaba's site for general merchandise, sources told the paper.
But while Alibaba's annual sales last year were only $25 billion versus Kroger's more than $100 billion, it has pockets nearly as deep as Amazon. The company is worth 10 times Kroger. If Alibaba wants to enter Western markets via an acquisition, it could make a credible offer.
Wall Street analysts were intrigued at the possibility of a takeover, but seemed to think a partnership was more likely to result from the talks.
"If these articles are in fact true, we applaud Kroger for thinking outside the box – because a Kroger/Alibaba partnership would be a superior solution... and would meaningfully alter the competitive landscape in the US," wrote Barclays analyst Karen Short in a Thursday note to investors. "Alibaba could certainly provide Kroger with the most – if not all – of the e-commerce solutions."
Wells Fargo analyst Edward Kelly also leaned toward a possible alliance.
"A partnership with a player like Alibaba would seem to make a lot of sense, as it could provide an attractive opportunity to advance Kroger’s technology platform and digital knowledge without significant upfront cost," Kelly wrote in a Thursday note to investors.
Andy Stout, managing director of investments at Simply Money in Symmes Township, said a takeover might be hard to pull off as regulators might resist a foreign ownership for a Fortune 500 company. He noted regulators early this year helped kill the acquisition of Moneygram by Alibaba subsidiary Ant Financial.
"Regulators would look very closely at a Chinese company buying the third-largest retailer in the US," Stout said. "In this age of populism, I think regulators probably would not allow Alibaba to buy Kroger."
Kroger officials declined to comment Thursday, labeling the reports "rumor or speculation."
Speculation of possible Kroger acquisitions or partnerships are in overdrive this month with news outlets suggesting the grocer was eyeing potential takeovers of digital wholesaler Boxed as well as online retailer Overstock.com. The common thread to all these reports besides unnamed sources and Kroger silence was avenues for the retailer to beef up its digital abilities.


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Burlington Industries Inc. of Greensboro, N.C., said yesterday it has signed an agreement to sell its J.G. Furniture Division in Quakertown to a group of investors and current senior management members of J.G. Furniture.
A spokesman for Burlington Industries said the sale price would not be disclosed. The sale is expected to be completed this month.
J.G. Furniture President Charles Isaac said the ownership change would not affect employment or current management. He said the business will be called J.G. Furniture Systems Inc.
J.G. Furniture employs about 400 persons and operates three manufacturing facilities - on Pumping Station Road in Richland Township and in Quakertown on Ambler Street and Park Avenue.
The company manufactures and distributes office furniture and auditorium seating.
Burlington acquired the company in May 1973. The sale marks Burlington's departure from the furniture market.


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Bye Bye SEO Data: Google and the Game Changer
Big news of the week in the world of marketing and SEO is that Google finally made the move to switch all searches to encrypted searches. And this, it changes everything about the way SEO professionals, and marketers, will have to work moving forward.
In a nutshell, this means that websites will no longer be able to track users by the keywords they use to power their searches. Which is a big deal. And given the huge concerns about online privacy, not surprising at all. For Google, allowing personally identifiable information to be combined with search queries is a huge liability and it’s also a competitive issue.


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21Digital Helps Launch Haute Dolci To Sweet, Sweet Success
Haute Dolci is the North West’s newest luxury dessert experience brand. After a £600,000 investment in the development of its flagship store at Cheshire Oaks designer outlet, Haute Dolci tasked 21Digital Agency with creating an organic social media campaign to increase brand awareness and drive engagement.
“The client’s brief was clear – they didn’t want the usual ‘like and share’ campaign centred around offers or giveaways.” said Sam, Head of Agency at 21Digital. “Haute Dolci is an innovative brand and tasked the agency with creating a buzz ahead of its VIP opening in January 2018.”
With only an 8-week deadline until the launch, we came up with the idea of a treasure hunt, promoted via social media. The concept was simple:
- Follow the clues
- Find the keys
- Unlock the VIP experience!
The keys were hidden in a number of North-West locations, and we posted the first clues on social media. The hunt was on!
Keys were hidden at secret locations around the North West, and clues were posted on social media. The hunt was on! The lucky people to find a key were able to access the North West’s newest luxury dessert experience – and get a few extra treats in the bargain, too.
The campaign was a big hit – on Instagram alone, Haute Dolci gained 5,400 followers and a total of 2,300 likes on their posts within the space of just 8 weeks.
Prior to the start of the campaign, Haute Dolci had a minimal social media presence, but under 21Digital Agency management they went on to enjoy a firmly established, dedicated following across several platforms.
At the time of writing, these numbers are now over:
- Over 8,020 followers
- 38,000 likes
- 18,00 comments
- Over 2,800 page likes
- 1,500 likes, comments and shares
- 114,000 users reached by boosted posts
- 142,500 impressions to a highly targeted demographic
Following the launch, Haute Dolci has now awarded 21Digital Agency the responsibility of full management of their social media, capitalising upon the success of the initial campaign as the brand prepares to open a number of new stores across the UK.
Social Media Marketing is one of the core services we offer here at 21Digital Agency, in addition to others such as Web Design and Digital Consultancy. Get in touch by emailing us on firstname.lastname@example.org or giving us a call on 01254 660 560, to find out how we can help you make it on the web!


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New Brunswick RCMP issue warning about purchasing items over social media
According to police, the scam works like this: an individual or individuals will post an item for sale on social media.
When someone shows interest in the item, the individual(s) request that money be sent to them electronically in order to reserve the item, police say.
Once the money is received, the advertisement is deleted and the seller can no longer be contacted.
New Brunswick RCMP say that so far, six complaints are being investigated in the Acadian Peninsula between Tracadie-Sheila, N.B., and Ste-Marie-St-Raphaël, N.B.
The amount of money reportedly stolen can reach up to $500, according to police, while items posted for sale have included children’s toys and kitchen appliances.RCMP say there could be more victims in the province.
Officers are encouraging everyone who purchases items through social media to avoid making electronic payments before seeing the items in person.
Anyone who may have been a victim of this alleged fraud is encouraged to contact local police.


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Cass exec Cirimele joins US technical adviser group to UN
Frank Cirimele, director of products and services at Cass Information Systems Inc., has been named to the U.S. Technical Advisor Group as part of the U.S. delegation to the United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT).
UN/CEFACT is a subsidiary, intergovernmental body of the United Nations Economic Commission for Europe (UNECE) Committee on Trade, which has a mandate to develop a program to improve worldwide trade coordination and cooperation.
Executives from the public and private sector from more than 40 countries work through UN/CEFACT to recommend ways to simplify and coordinate processes, procedures and information flows to foster growth in international trade and related services.
“The lack of international standards for electronic invoicing is among our greatest challenges,” Cirimele said in a statement. “We believe that the UN/CEFACT working groups can positively influence and guide the development and dissemination of data exchange standards, thus reducing global trade friction and making it easier for global trade to grow.”
Bridgeton-based Cass (NASDAQ: CASS) provides transportation, utility and telecom invoice payment and information services and also operates Cass Commercial Bank.
Cass Information Systems reported that its third-quarter net income was nearly flat, up just 0.5 percent to $6.1 million compared with last year’s quarter, on revenue that rose 2 percent to $27.9 million compared with the third quarter of 2011.
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There’s a food truck for every type of cuisine nowadays. Mobile eateries’ sudden rise in popularity has taken the country by storm, and just like other businesses, the trucks need to be insured, whether they’re operators’ main business or secondary source of income.
From 2011 to 2012, Progressive saw a nearly 20 percent increase in the number of food trucks it insures. Food trucks bring an interesting dynamic to the table, because they serve as both the owner’s work vehicle and their place of business.


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Cash raised on assets booms as firms turn backs on bank lending
The number of firms using asset-based
finance to raise money rose
by four per cent in the last quarter
compared with the previous year.
The latest figures from the Asset
Based Finance Association, due
out this week, will show that
nearly 43,000 businesses turned to
asset-based finance – when a loan
is secured against an asset such as
buildings or equipment – in the
three months to June. The amount
lent to firms rose by two per cent
over the same period to £16billion.
However, the amount of money lent to businesses with a turnover of less than £500,000 rose 23 per cent over the same period, which experts believe reflects the difficulty many of the smallest firms face getting bank finance, making them reluctant to try.
Support: Asset-based finance is popular with companies in the manufacturing, distribution and services sectors
The latest quarterly SME finance monitor, commissioned by the Business Finance Taskforce and published last week, reveals that 43 per cent of the 5,000 firms questioned used external finance, down from 50 per cent in the first three months of the year.
Firms in the manufacturing,
distribution and services sectors
are among those who regularly
turn to asset-based finance.
Kate Sharp, head of the association, says: ‘It is heartening to see the industry offering increased financial support to these micro and start-up businesses.’
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CLOSING THE GAP: For the first time in eight years, Self magazine is giving Shape — its longtime rival and category leader — a run for its money.
Since 2004, Shape has held a substantial lead in ad pages, with the differential reaching as high as 290 pages in 2010. This time last year, that figure was narrowed to 178 pages. With the July issue, Self has moved to within nine pages of Shape, according to the latest figures from Media Industry Newsletter.
This story first appeared in the June 22, 2012 issue of WWD. Subscribe Today.
Kristen Elliott, Shape’s new publisher, said she’s well aware of the renewed race for advertising and the title has a few changes she believes will make a difference. A new trim size will soon be introduced (Shape will now be the same size as Women’s Health), and an upgrade in paper stock will begin with the August issue. “It’s whiter paper and makes every ad and piece of edit have a nice, bright quality,” she said.
These investments mean the publishing schedule will move to 10 times a year, instead of monthly. “Men’s Fitness did this in the spring, as well,” Elliott said.
She acknowledged it’s been a challenging year, adding that with the “corporate deals going on out there, some people fared better than others this year.” Of course, she was referring to Self.
It will come as no surprise that Laura McEwen, Self’s publisher, has a different take on the magazine’s recent success. “Some of the reasons that Self is gaining market share: unmatched Condé Nast quality content; extraordinary digital success; innovative marketing programs, including the industry’s first social game, and surging total audience,” she said. “Women are passionate active lifestyle consumers, and the Self brand has never been stronger.”


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Pooja Sharma-Jones has left her role as sales and marketing director at Drake & Morgan, MCA understands.
Sharma-Jones joined the group in February 2016 after spending two years with the Soho House group.
Prior to that she held marketing roles at Harrods and Selfridges.
The Bowmark Capital-backed D&M this week opened The Bothy in West India Quay.
It will open four new bar restaurants this year: three in London at West India Quay, Cannon Green and on Principal Place, plus one in Manchester on St. Peter’s Square.


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The Galaxy Mega is a big phone. This update, on the other hand, is somewhat modest. Still, for those rocking a Galaxy Mega it's a big enough deal. The NJ1 update adds a few new calling features as well as some patches for Android security vulnerabilities.
T-Mobile is pushing out an over-the-air update that will bump its Galaxy Tab 4 up to Android 4.4.4. This means that people who own this 8.0-inch LTE-enabled tablet will get to run the latest version of their mobile operating system for at least a week before 5.0 starts running out to various devices. Since this is a bugfix release, that's the biggest reason most users will have to look forward to this OTA. Read More
Barnes & Noble and Samsung appear to be getting along pretty well, for the two companies have now unveiled their second joint tablet: the Galaxy Tab 4 Nook 10.1. Just like the previous Nook tablet, this is a Galaxy Tab 4 10.1 with some added software tweaks that place emphasis on reading and consuming content from Barnes & Noble. The tablet is available for a launch price of $299 (following a $50 instant rebate), which puts it right in line with the price of the non-Nook version of the slate. Read More
Android 4.4W.2 is slowly rolling out to various Wear devices this week, and my G Watch R review unit just received it earlier this afternoon. A couple of commenters have pointed out a new feature in W2 that we hadn't yet noticed - you can now hide notifications, as opposed to dismissing them, directly from the watchface. Read More
Yesterday, I had an opportunity to meet with Oculus VR at one of the company's numerous offices in Irvine, CA to discuss the company's partnership with Samsung on a piece of hardware you're likely aware of by now: Gear VR Innovator Edition.
Gear VR is, for all intents and purposes, the first consumer product to ever bear the Oculus name. The company's various developer kits have never been marketed to consumers (even if some consumers do buy them), and even this new Samsung gizmo isn't going to be heavily distributed or broadly-targeted. Read More
You know what the Galaxy S5 needs? More Power! Well, maybe it doesn't need more power, but it's getting more. The company has posted a product page for the Galaxy S5 Plus, a variant of the current flagship that includes a Snapdragon 805 in place of the 801 that powers most current variants.
The Galaxy S5 has been out for a few months at this point, but while everyone is fawning over the Note 4, you can snag a good deal on the GS5. An unlocked AT&T-branded Galaxy S5 is for sale on eBay Daily Deals right now for $419.99. It's an open box, but that's still a killer value.
There are big phones, and there are big phones. When the Galaxy Mega hit store shelves last year, it handedly qualified as a big phone. The handset was larger than the Note 3, and the latest iteration remains a device for folks who want something substantial without a massive price to match. AT&T has announced that the Mega 2 is coming to the carrier on October 24th for $474.99 outright, $149.99 with a two-year contract, $23.75 a month with Next 12, or $19.80 monthly with Next 18. Read More
Each year, buying the current Galaxy Note device is an expensive undertaking. To own one off-contract, the damage done to your wallet is quite a lot to take in at once. AT&T, for example, wants around $800 to sell you this year's model. The most affordable way around this is to purchase last year's release. It's no less powerful than it was a couple of days ago, and aside from eventually reaching the end of its support period sooner than the newer version, it will satisfy most users just fine. Read More
When Samsung and LG began selling their Android Wear watches, it seems they made a small oversight: the only way to get the proprietary POGO pin charging docks was to buy the watch. That left customers who had lost or damaged the chargers with no way to get their devices charged again. LG made good on the problem by adding a G Watch Charger to the Play Store back in August, and now Samsung has followed up for the Gear Live as well. Read More


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Lasseters Corporation Ltd announced that it has acquired the Cambodian company Gereta Investment Co. Ltd, allowing the company access to online and land-based casino and gambling.
Lasseters is to acquire all of the issued shares in Gereta from Li Jingru, the sole shareholder of the company, for $ 2.1 million.
“[T]he Company proposes to acquire all of the issued shares in Gereta from the Vendor in consideration for cash and the issue of the Shares the subject of LAS shareholder approval at a soon to be announced shareholder meeting.”
Lasseters said it has decided to purchase Gareta due to the latter’s approval in principle by the Cambodian government for a licence to operate an online gambling and gaming business as well as a land based casino.
“The Company believes that expertise of it and its JV partners in the online gambling area, combined with the low costs of operating in Cambodia and proximity to the fast growing lucrative markets of Asia will give it significant competitive advantages over other operators.”


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How to Donate Clothing to Japan's Tsunami Relief Efforts
It’s been four days since a devastating earthquake and resulting tsunami swept through northeastern Japan, and many of the country’s citizens have been left without basic necessities like clothing, food, and shelter. Enter Lady Gaga, Steven Alan and Uniqlo, who have all sprung into action by announcing special Japan fundraisers. Lady Gaga’s “We Pray for Japan” wristbands, which sell for $5 on her Web site, have already raised $250,000 to support relief efforts, while Steven Alan is donating 15% of all sales to International Medical Corps through March 17th. Uniqlo's parent company Fast Retailinghas promised to give 1.4 billion yen ($17.3 million) to organizations like the Japanese Red Cross. Plus, if you want to donate clothing, all Fast-Retailing-owned stores worldwide, including Uniqlo, Theory, and Comptoir des Cotonniers will soon house donation boxes where customers can drop off used garments.
Update: Uniqlo has canceled their plans to accept clothing donations, due to shipping difficulties. However, the store is accepting monetary donations via an official Red Cross box. Similar boxes will be set up in Theory on March 18th, and in Comptoir des Cotonniers the following week.


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By Rahul Singh, President of Financial Services, HCL Technologies
While it’s difficult to overlook the importance of data in today’s financial services landscape, many banks are still grappling with the question of how to mine, evaluate and use it. Banks have historically struggled to get value from data, seeing themselves purely in the role of trustees of customer information, and never looking to put it to work.
That picture is now starting to change though, with banks finally spurred into action by regulator changes, including Open Banking and PSD2. Making it possible to harness the power of data, Open Banking puts intelligence into the hands of banks, and could bring about real change in the industry.
A new kind of bank?
In turn, banks will evolve in a number of different ways. Some are embracing PSD2 just to remain compliant; others are offering simple services such as aggregating customer accounts across multiple banks and offering them on a single dashboard. But the true power of Open Banking was laid bare in 2019 when Uber partnered with global bank BBVA in Mexico to place a banking product inside its app. Using the Uber application, Uber’s unbanked driver partner community and their families can now instantly open a digital bank account, get their earnings credit in seconds, apply for loans and access discounts and deals that Uber strikes for them. While the Uber-BBVA example shines a light on the innovative possibilities that Open Banking has unleashed, there are even more ambitious goals that other banks are reaching for, working with partners to own the entire customer journey.
The signals are clear: Open Banking is going to shake off inertia in the industry. And while Gartner says that we will see 80 per cent of today’s financial firms go out of business or become irrelevant at the hands of new competition by 2030, Open Banking is throwing them a lifeline. It will provide banks the opportunity to become agile while continuing with their branch networks to provide the familiar human touch.
Owning the customer journey
The real winners in the coming years will emerge from the group of banks that are jockeying to own the entire customer journey. They will reap the rewards of time and effort invested into creating partnerships that deliver much more than banking, catering to to all customer’s financial needs via a wider portal. As an example, think of a customer who wants to buy a home: currently, the customer has to negotiate with a variety of providers, each with a different service level and back-end system. Instead, a bank could allow the customer to examine properties online, compare them, choose the property they want, complete the legal paperwork, pay for the property, and even rent the furniture. This is the type of complete ecosystem play that banks will strive for. It will focus on creating customer experience while making banking invisible.
This means intelligently and securely accessing customer data, allowing everyone, from end users and developers to the traditional banks and financial institutions, to exploit it and harness its best possible use. The range of possibilities that this allows for is infinite and ultimately will help in putting power back in the hands of the user.
Shaking up the global financial system
With such sweeping changes on the way, how will the new breed of banks shape the future of the global financial ecosystem? To begin with, the volume of international bi-lateral and multi-lateral trade is growing. Also, with the demise of cash and cheque-based payments in favour of digital payments, we are seeing an explosion in banking transaction volumes and data availability. Furthermore, the rise of mobile devices has the potential to offer unprecedented outreach to the underbanked and thereby the democratisation of financial services.
It is foolhardy to predict which banks will survive and which currency will take centre stage. Although of course countries and regulations will continue to exist, we cannot ignore the fact that the current status quo is going to be challenged. The big battle that lies ahead for banks is to own the customer, along with the complete customer journey. At the moment, that battle is being lost to aggregators like Amazon who are building customer loyalty and who own the customer more than a bank does. Banks must place a firm focus on changing that equation, or their very existence could be under serious threat. It is time to rethink and reinvent finance for the mobile era.