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News articles about Net Element International (NASDAQ:NETE) have been trending positive on Friday, according to Accern Sentiment Analysis. The research firm rates the sentiment of news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Net Element International earned a media sentiment score of 0.30 on Accern’s scale. Accern also assigned media headlines about the company an impact score of 44.7376016473883 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern Sentiment’s analysis:
- Net Element International (NETE) Stock Rating Upgraded by ValuEngine (americanbankingnews.com)
- Net Element +25.8% after closing private placement – Seeking Alpha (seekingalpha.com)
- Blockchain Technology Changing Many Industries – Not Just For Cyrptocurrencies (prnewswire.co.uk)
- Net Element Announces $7.55 Million Investment to Support Blockchain-Focused Developments (pointofsale.com)
- Net Element (NETE) Stock: Climbing High On Private Placement (cnafinance.com)
Separately, ValuEngine upgraded Net Element International from a “sell” rating to a “hold” rating in a report on Wednesday.
Net Element International (NASDAQ:NETE) last announced its quarterly earnings results on Tuesday, November 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.34). Net Element International had a negative net margin of 14.44% and a negative return on equity of 205.76%. The company had revenue of $14.90 million during the quarter, compared to analyst estimates of $16.60 million. equities analysts predict that Net Element International will post -3.59 earnings per share for the current fiscal year.
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Net Element International Company Profile
Net Element, Inc operates as a financial technology and value-added solutions company worldwide. It operates in three segments: North America Transaction Solutions, Mobile Solutions, and Online Solutions. The North America Transaction Solutions segment provides technology and services that businesses require to accept cashless transaction for retail card-present, e-commerce, or card-not-present mail order/telephone order transactions; and Aptito, a cloud-based point of sale (POS) platform, which includes hospitality, mobile POS, and small to medium sized business retail POS applications, as well as offers mobile payment and merchant back office reporting services, and merchant performance analytical tools.
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Two-wheels of fortune
It seems like a leading multinational TNVS has its sights set on the kmotorcycle taxi industry. As far back as 2016, it has already tried to unsuccessfully insert itself in the industry and eventually was not included in the LTFRB pilot program for habal habals in 2019.
Fast forward to present day.
After repeated failed tries to enter the industry, this ride hailing Asian juggernaut finally acquired one of the accredited MC taxi operators in 2022 and is now the de facto fourth MC Taxi operator. Note that even an order from the LTFRB in 2020 and current cries of “foul” from concerned groups, the Philippine Competition Commission, and even Congress have failed to derail its ambitions.
A high-ranking transport official intimated to Sharp Edges that this TNVS company has been using its close relations with the higher ups to allow the not only their entry but market domination with a second franchise under their belt.
What is it about the MC taxi industry that this foreign company (pretending to be local) cannot seem to let go and just allow Filipino companies to reap the gains from being of service to their countrymen?
It seems like there truly is money to be had in the business of a taxi service on two-wheels as this company is willing to circumvent laws, throw its weight around, and push everyone to get its way. (next topic)
Title: Rampant disregard of Senior citizens/PWD discounts must stop
According to Republic Act No. 9994 or the Expanded Senior Citizens Act of 2020, seniors have “20 percent discount and exemption from the value -added tax (VAT), if applicable, on the sale of the goods and services from all establishments, for his exclusive use and enjoyment or availment”.
These include medicine, health professional fees, medical and dental services, transport fees, prices of products and services offered by business establishments, admission fees in arts centers, and funeral/burial costs.
In principle, restaurants should provide 20 percent discount for the sale of food, drinks and dessert and other consumable items served , including value meals and promotional meals. The amount to be computed should be the amount less 12 percent VAT. The discounts should also apply to dine in, take out and take home orders (not bulk orders) as long as the senior citizen is present and personally showing his ID. For phoned-in or called-in delivery orders, the 20 percent senior citizen discount and 12 percent VAT exemption apply.
Clear on paper but on the ground , numerous establishments continue to victimize our senior citizens and PWDs. Case in point is a 5 star hotel in Pasig now facing closure by the city LGU after denying a discount in November 2022 citing an ongoing promotion to a woman senior citizen. Pasig city prosecutors ruled that the hotel president and finance director violated the Expanded Seniors act law and the Consumer Act , and filed the case at the Pasig MTC with bail set at P36,000 each.
These “promo rates” of establishments, are presented by firms citing “double discounts” and therefore the senior discount will not apply. But here , we must be very clear that these claimed promos should first secure permission from the DTI prior to implementation. And if the promo has a DTI approval, senior citizens should be given the OPTION to purchase , through their mandated senior discount OR the promos offered, but the most favorable option to the senior citizen must prevail.
Another controversy is the Starbucks Philippines, operated locally by the Rustan’s Coffee corporation. They posted a sign limiting senior citizens to one drink and one food . This went viral and triggered a congressional investigation. Its operations director Angela Cole, acknowledged their mistake and apologized for the confusion . But some legislators went ballistic over these demeaning outlook towards senior citizens. Ways and means committee chair Joey Sarte Salceda said, a violation has been committed and this must not go unpunished. “In our next hearing, I will move for the filing of the appropriate case against Starbucks Philippines”. .
A lot of other senior citizens voiced out complaints on the big disparity of prices of their medicines from drugstores. Initial examination reveal that one drug company complies with the rules of 20 percent discount and less 12 value added tax (VAT) . Other companies however only deducts the 20 percent senior discount, thus in clear violation of the law.
Penalties for people or companies who refuse senior citizen discounts, under the Expanded Senior Citizens Act, will pay fines from P50,000 to P200,000, depending on the repetition of the violation. Imprisonment of two years to six years may also be imposed.
Overall, this discounting process are filled with unclear issues , such as fake LGU issued IDs and the leakages in “tax accounting “ of establishments. Before the pandemic, there were 78,000 registered PWDs in Quezon city but with the introduction of new automated systems, the number decreased to 52,000. This means that as much as 1/3 of PWD IDs are fake.
Rep. Salceda says “social discounts and privileges are a shared cost between the government and the rest of society, made necessary by the absence of comprehensive social safety net, especially for dignified old age”. “But the long term solution remains the creation of enough revenue streams to fund comprehensive social safety nets that address the current and future needs of PWDs and senior citizens”. .

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Last year, we saw the beginning of the end for big box stores like Sears, Kmart and Toys R Us.
Three months into the new year, more brick and mortar closures have been announced, especially smaller chains.
A research firm found more than 63,000 stores are already slated to be shuttered.
In 2018, Coresight tracked 5,528 closings, which included Toys R Us, Mattress Firm, Kmart, Sears and Brookstone.
Coresight said 2017 marked the record year for closings with 8,139 shuttered stores.
Texas Retailers Association President and CEO George Kelemen said store closures don't necessarily mean a financial distress, or lack of sales, it could be too many locations or mergers.
"This is not the retail apocalypse that folks keep talking about. It's just a natural sort of shifting out of making sure companies and retailers have the right presence and the right place and different ways to connect with their customers best," said Kelemen.
He said store closures could also be changing demographics or locations.
"All you have to do is drive around Houston and you see the constant construction the constant new shopping centers popping up, new stores going in and the growth and development," said Kelemen.
He said this is just part of the evolutionary nature of the retail industry.
Coresight Research; staff research
• Payless ShoeSource: 2,589 (includes 248 Canada locations and 114 smaller-format stores in Shopko Hometown locations)
• Gymboree/Crazy 8: 749
• Charlotte Russe: The entire chain of more than 500 stores will close by April 30, but 94 stores from an earlier wave of closings will be shuttered first.
• Things Remembered: 422
• Ascena Retail: 400
• Family Dollar: As many as 390 stores
• Shopko: 251
• GNC: 233
• Gap: Roughly 230 in next two years
• Tesla: More than 200 locations worldwide, around 80 in the U.S.
• Foot Locker: 165; total includes closings outside of the U.S.
• Destination Maternity: 117
• Chico's: 83
• Sears: 72
• Victoria's Secret: 53
• Vera Bradley: 50
• Kmart: 48
• J.C. Penney: 27
• Henri Bendel: All 23 stores
• Southeastern Grocers: 22
• E.L.F. Beauty: All 22 stores
• Saks Off 5th: 20
• Lowe's: 20
• Macy's: 8
• Target: 6
• J.Crew: 5
• Kohl's: 4
• Nordstrom: 3
• Whole Foods: 1
• Calvin Klein: 1
• Pottery Barn: 1
• Williams-Sonoma: 1
• J.C. Penney closings: Retailer to close 24 more stores as sales fall
Some of the announced closures may carry over into 2020, which was the case with several closings announced in late 2018 such as Lowe's, Sears and Kmart. Gap Inc. announced Feb. 28 it would close roughly 230 stores over two years.


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Bezos selected the name Amazon by looking through the dictionary; he settled on "Amazon" because it was a place that was "exotic and different", just as he had envisioned for his Internet enterprise. The Amazon River, he noted, was the biggest river in the world, and he planned to make his store the biggest bookstore in the world. Additionally, a name that began with "A" was preferential due to the probability it would occur at the top of an alphabetized list. Bezos placed a premium on his head start in building a brand and told a reporter, "There's nothing about our model that can't be copied over time. But you know, McDonald's got copied. And it's still built a huge, multibillion-dollar company. A lot of it comes down to the brand name. Brand names are more important online than they are in the physical world."
In early 2018, President Donald Trump repeatedly criticized Amazon's use of the United States Postal Service and pricing of its deliveries, stating, "I am right about Amazon costing the United States Post Office massive amounts of money for being their Delivery Boy," Trump tweeted. "Amazon should pay these costs (plus) and not have them bourne [sic] by the American Taxpayer." Amazon's shares fell by 6 percent as a result of Trump's comments. Shepard Smith of Fox News disputed Trump's claims and pointed to evidence that the USPS was offering below market prices to all customers with no advantage to Amazon. However, analyst Tom Forte pointed to the fact that Amazon's payments to the USPS are not public and that their contract has a reputation for being "a sweetheart deal".
Jump up ^ "Pitch Perfect". On The Media. January 1, 2010. Archived from the original on 2010-01-09. Retrieved 2010-01-16. He figured out that he could build brand recognition by blanketing the airwaves with cheap direct-to-consumer commercials, and then take the product into retail stores where he slapped an "As Seen On TV" logo on them, which he designed himself. It’s a very lucrative formula, he told me, so that’s what he’s been doing ever since.
A growing number of supermarkets allow their customers to shop online for their groceries, preparing the order for pick-up or delivering it directly to their door. Shopping from home for your grocery store items is a great way to deal with this necessary chore: It's convenient, it's a time saver, and sometimes you can even take advantage of online sales not otherwise accessible.
Throughout the summer of 2018, Vermont Senator Bernie Sanders criticized Amazon's wages and working conditions in a series of YouTube videos and media appearances. He also pointed to the fact that Amazon had paid no federal income tax in the previous year. Sanders solicited stories from Amazon warehouse workers who felt exploited by the company. One such story, by James Bloodworth, described the environment as akin to "a low-security prison" and stated that the company's culture used an Orwellian newspeak. These reports cited a finding by New Food Economy that one third of fulfilment center workers in Arizona were on the Supplemental Nutrition Assistance Program (SNAP). Responses by Amazon included incentives for employees to tweet positive stories and a statement which called the salary figures used by Sanders "inaccurate and misleading". The statement also charged that it was inappropriate for him to refer to SNAP as "food stamps". On September 5, 2018, Sanders along with Ro Khanna introduced the Stop Bad Employers by Zeroing Out Subsidies (Stop BEZOS) Act aimed at Amazon and other alleged beneficiaries of corporate welfare such as Wal-mart, McDonald's and Uber. Among the bill's supporters were Tucker Carlson of Fox News and Matt Taibbi who criticized himself and other journalists for not covering Amazon's contribution to wealth inequality earlier.
The domain amazon.com attracted at least 615 million visitors annually by 2008. Amazon attracts over 130 million customers to its US website per month by the start of 2016. The company has also invested heavily on a massive amount of server capacity for its website, especially to handle the excessive traffic during the December Christmas holiday season.
"Search Inside the Book" is a feature which allows customers to search for keywords in the full text of many books in the catalog. The feature started with 120,000 titles (or 33 million pages of text) on October 23, 2003. There are about 300,000 books in the program. Amazon has cooperated with around 130 publishers to allow users to perform these searches.
Summer break may be over, but you can still sign up for Amazon Prime Student! When you start an Amazon Prime subscription for Students, you'll get a 6-month free trial and then 50% off your Amazon Prime membership (just $6.49/mo!). There are a lot of other perks of having Prime Student, too: watch Amazon Prime streaming exclusives like "Alpha House," and other TV & movies, get free 2-day shipping on textbooks, and more. Plus, get exclusive coupons for Prime members only.
The first Echo came out in late 2014 as a Prime member exclusive, but in the four short years since, Amazon has developed dozens of different smart home products that revolve around the speaker and voice assistant format. Today, thousands of products integrate with the company’s Alexa platform to make use of its voice search and query capabilities. Just as it once foresaw e-commerce, streaming, and cloud computing as the future of the internet, Amazon saw AI as not just something that could live within the smartphone — as Apple established with Siri and Google with its Assistant — but also in the home.
Amazon lobbies the United States federal government and state governments on issues such as the enforcement of sales taxes on online sales, transportation safety, privacy and data protection and intellectual property. According to regulatory filings, Amazon.com focuses its lobbying on the United States Congress, the Federal Communications Commission and the Federal Reserve. Amazon.com spent roughly $3.5 million, $5 million and $9.5 million on lobbying, in 2013, 2014 and 2015, respectively.
From $0 to $120,000 in monthly sales, Beardbrand.com is as incredible a story as they come. This is a company that lives and breathes the brand they’ve created, selling beard care products, beard grooming kits and other beard related propaganda. The owner of Beardbrand.com says it’s his growth of such a unique, strong brand that’s made him so successful.


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When it comes to the brain inside a self-driving car, Americans would rather it be stamped with an Apple logo than a Ford blue oval.
Of the 1,500 people surveyed by consulting firm AlixPartners, 73 percent of them want to have a vehicle which does all the driving, yet 41 percent say that they would trust that car more if it is programmed by one of the major technology companies. 26 percent of respondents said they would prefer their self-driving car from a Japanese automaker, while 17 percent would go to a Detroit company.
When it comes to assembling the nuts and bolts of automobiles however, those surveyed trust Ford, General Motors and Chrysler the most.
“People want the traditional automakers to be the brawn, building these cars, and they want tech firms to be the brains of the cars,” said Mark Wakefield, head of the Americas automotive practice at AlixPartners.
So far, the tie-up between Google and FCA is the largest between an automaker and a major technology company, though it is limited to FCA building a small fleet of minivans for Google. Whether or not it will go deeper than that still remains to be seen.


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Find out more at btsub.sg/btdeal
You are here
UK to start selling remaining Royal Mail shares: Osborne
[LONDON] British finance minister George Osborne said on Thursday the government would start selling its remaining 30 per cent stake in Royal Mail, the country's post operator, which is worth around 1.5 billion pounds (S$3.1 billion).
Mr Osborne also said in parliament that government departments had found extra savings in the current financial year which along with the Royal Mail sale would generate around 4.5 billion pounds for the public coffers.


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Qantas Freight has announced it will lease two Boeing 747-8F freighter aircraft, offering greater capacity and improved efficiency for its global freight customers.
The next-generation freighters will replace the current two Boeing 747-400F that are currently operated on Qantas’ behalf by Atlas Air and will be painted in Atlas livery. Widely regarded as one of the most efficient freighter aircraft in service, the 747-8F features a longer fuselage than the Boeing 747-400F, offering up to 20 per cent more freight capacity with space for seven extra pallets.
Expected to commence services from late July 2019, the 747-8F freighters will carry cargo on Qantas Freight’s existing network between 10 key cargo hubs in Australia, China and the United States.* CEO of Qantas Domestic & Freight, Andrew David, said the new aircraft would allow Qantas’ freight business to better meet customer demand for freight capacity around the world. “We are seeing strong growth in demand driven by e-commerce, fresh produce, electronics and mining equipment across our international freight network,” said Mr David.
“The newer, more efficient Boeing 747-8F will allow us to provide a better service for our customers with additional freight capacity and even greater reliability for time-sensitive shipments.” Qantas Freight has operated freighter services between Australia, China and the USA for the past 15 years. “Our investment in wet-leasing these aircraft gives us a more competitive offering in the Australia-China-US freight markets and more operational efficiency,” added Mr David.
Qantas Freight operates a dedicated fleet of 14 freighter aircraft as well as managing the freight capacity on Qantas and Jetstar passenger services across domestic and international routes. Customers have a choice of over 5,000 weekly flights to over 80 destinations within Australia. Internationally, Qantas Freight offers cargo space on over 1,700 weekly flights to over 20 countries.
*Subject to regulatory approval.


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After being stuck inside their homes for years due to the pandemic, Americans are eagerly rushing to get out.
Whether that is to concerts, sporting events or the theater, activities were expensive before the pandemic, and they haven't gotten any cheaper.
According to Pollstar, the average ticket price for the 100 biggest concerts rose from $28.50 in 1996 to $87.10 in 2021. Fans are also spending more money at these concerts than ever.
According to LiveNation, on-site spending for food, drinks and merchandise rose by more than 10% from 2019 to 2021.
Professional sports leagues also saw huge jumps in the average price of their tickets. Major League Soccer and baseball tickets hover around $50, and NFL games are even pricier at $151 per ticket.
Many event planning companies point to overall inflation to explain cost increases. However, experts told Newsy there are more long-term factors here at play, like the role that the secondary ticket market plays.
Michael Clements, the director of financial markets and community investment at the U.S. Government Accountability Office, says there's a supply-demand imbalance in the sector.
"What we found is that oftentimes the face value of tickets are artificially low, and what that creates is a situation where the demand, the number of people that want to see the event at that price, far exceeds the supply," Clements said.
"It creates an opportunity for ticket brokers to go to the primary market, purchase those tickets and then turn around to resell them. And our report noted that brokers have advantages either through use of bots or simply hiring folks to purchase tickets."
There is also the matter of service fees. According to a Government Accountability Office report, the average ticket fee was between 27 to 31%.
"Oftentimes the fees may not appear until you've entered personal information, perhaps even your payment information," Clements said.
"Sometimes the consumer who might have been put off by the high fee earlier on, once they've got the item in their pocket, they've entered their credit card in, they may just go ahead and purchase a ticket."
There have been some legislative attempts to help curtail the prices of these tickets. Rep. Bill Pascrell, (D) NJ, sent a letter to the FTC in March urging the breakup of LiveNation and Ticketmaster, who control more than 80% of the market, as a means to create more competition and lower prices.
He wrote that they control everything from managing the performers to owning the concert halls to "the guy who sells the hot dogs."
Sens. Richard Blumenthal, (D) CT, and Amy Klobuchar, (D) MN, also sent a similar letter to the DOJ making a similar request for a breakup.
As for Live Nation, it says demand is driving sales, with its CEO Michael Rapino telling analysts earlier this year, "fans continue to seek the best tickets, and the ongoing rapid growth of the secondary market indicates there's more room to grow."
Newsy is the nation’s only free 24/7 national news network. You can find Newsy using your TV’s digital antenna or stream for free. See all the ways you can watch Newsy here: https://bit.ly/Newsy1


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By Anna Flávia Rochas on 3/20/2017
The Brazilian federal government decided to temporarily close three meat processing plants and remove 33 public employees from their jobs on Friday evening, after the Federal Police launched an investigation Friday morning to dismantle a bribery scheme involving sanitary licenses for adulterated products.Brazil’s president Michel Temer held a meeting with diplomats from Brazil’s meat importers yesterday to reassure quality of the country’s products and sanitary procedures.The Federal Police said on Friday it was investigating federal sanitary inspectors and employees in the food industry for involvement in the scheme, which resulted in releasing meat unfit for consumption. Brazilian processors JBS and BRF are among food companies being investigated.Brazil’s national beef industry association ABIEC said via press statement that none of the beef producing facilities of its 29 member-companies were cited in the Federal Police investigation.BRF’s poultry unit located in Mineiros, Goias state, and two meat processing units of Peccin in Jaraguá do Sul (Santa Catarina) and Curitiba (Paraná) were closed, according to the Ministry of Agriculture.BRF said its unit in Mineiros produces less than 5 percent of the company’s total chicken and turkey meat. “The plant is capable of exporting to the most demanding markets in the world, such as Canada, the European Union, Russia and Japan. This means that it follows the different standards stipulated by these countries,” the company said via press statement, adding that the facility has international certifications.BRF said the unit was temporarily closed until it can provide information that affirms the safety and quality of the products to the Ministry of Agriculture, “which should happen soon.”The government decided to establish a special audit procedure for 21 meat processing units cited in the investigation, according to a written press statement sent on Sunday night.Of these 21 processing units mentioned in the investigation, six exported meat in the past 60 days. Further details on countries that received the products, which products were sold and the companies selling have yet to be released, according to the government.Federal officials also said that all the exporting units remain open for inspections by importing countries, and that the Ministry of Agriculture will strengthen cooperation with the Federal Police to investigate eventual deviations in the agricultural defense system.“The federal government reiterates its confidence in the quality of the national product, which has conquered the consumer and obtained approval from the most demanding markets from the point of view of agricultural inspection and defense,” Temer said via press statement.According to government data, 853,000 consignments of animal products from Brazil were shipped abroad in 2016, and only 184 were considered by the importers to be out of compliance, often because of non-sanitary issues such as labeling and filling of certificates.


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Wal-Mart creates a form of mathematics not taught in any school. It's called Wal-Math, and it works this way: 1 job created by Wal-Mart, minus 1 job killed at a smaller retailer = 1 job.
Read Whole Story
I know I'll never forget that horrible sight,
I guess I found out for myself that everyone was right.
Won't come back from Dead Man's Curve.
This is not a worker problem, it's a management problem. Autoworkers produce quality products. It was management that decided what those products would be.
Let's be clear about this: The only way to save GM is to kill GM. Saving our precious industrial infrastructure, though, is another matter and must be a top priority.
DETROIT — The speed at which General Motors Corp. exits bankruptcy protection would depend a lot on the shape the company is in when it enters. GM h...
"Judicial activism" (or, alternatively, "legislating from the bench") is defined -- no matter what your political beliefs -- as "judges not ruling the...
Some doubters on this website have advocated "pulling the plug on Detroit." Instead, I invite you to plug in to the power of American ingenuity and American transformation.
DETROIT -- The government will hold a large share of a restructured General Motors after the company emerges from bankruptcy protection, and will prov...
A world where the president bristles at contract rights to marshal the huge resources of government in a war against investors is a world where companies will find it very hard to borrow.
We so completely lack an industrial policy that we are presently working to spend money to maintain our car market while decimating U.S. domestic car producers.
We all know that the car occupies a central position in our way of life, yet aside from adding DVD players and coffee cup holders, we've done little to integrate ideas from the rest of our society.
There are many ironies in the Detroit saga, but most striking is the fact that state "socialism" may finally turn North America's car industry players into capitalists.
So here's what is next: Chrysler's hedge funds will make money on the deal because the courts will award something.
Surely there is nothing new about double standards in business and finance, especially in the current crisis. In fact, there may even be a rising double standard for what constitutes a double standard.
AIG Chairman Edward M. Liddy gets the Creep of the Week award for his stunning, overwhelming, dumbfounding display of cluelessness.
Congress could throw hundreds of billions at GM, Ford and Chrysler -- but how could the results be any different from what we see now?'
Why does Detroit get only 10% of what the banks and Wall Street have been loaned?
If the centralized, organized mouthpiece for labor is destroyed, then so is the only advocacy vehicle available to the nonunion worker.
DETROIT — The United Auto Workers and Ford Motor Co. said Monday they agreed to let the automaker change how it pays for a health care trust fun...
The failures of the "Big 3" had nothing to do with union workers, as the GOP has been saying. It had to do with the fact that these industries didn't adapt to the times
Congress cannot let the Jeep die in bankruptcy. Congress must not fail the U.S. auto industry. Doing so would be abandoning the core of the American economy -- manufacturing.
Big businesses and the GOP have taken a short-term, greedy look at their economic self-interest and determined they must fight the Employee Free Choice Act with all the weapons at their disposal.
Incidentally, GM got another $4 billion Tuesday after turning in their plan. Were you ever rewarded that much just for doing your homework?
Talks between the United Auto Workers and General Motors Corp central to a turnaround plan for the struggling automaker have broken down over the issu...
The bill passed by Congress yesterday throws a one-two punch at our auto industry and consumers.
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Plans & Pricing
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Online retailers looking to gain margin advantage are increasingly using dynamic pricing: the practice of changing prices based on market conditions, consumer behavior and competitive intelligence, according to a new eMarketer report, “Dynamic Pricing: What Retailers Need to Know About Competing in Real Time.”
Amazon.com has used it in various guises since the turn of the century and as the technology has become widely accessible, more retailers have adopted dynamic pricing in order to compete with the dominant pure play, undercut one another and woo the ever price-sensitive American shopper.
The ability to react in real time presents opportunities for retailers but is not without its challenges. For many, strategy and execution haven’t caught up with the volume and variety of data available.
Once only available to retailers with substantial tech budgets and in-house talent, pricing intelligence tools are becoming mainstream as more third parties begin to provide affordable services.
Price-monitoring platform Dynamite Data’s research showed just how marked the frequency of price changes have become. Looking at a two-week period around Thanksgiving, when retailers use the holidays as a testing ground, major retailers made more daily price changes in the 2012 Thanksgiving season than in 2011. Both Amazon and Sears manipulated prices daily on around one-quarter of their products during the holiday period last year.
Though online battles between high-profile companies like Target, Wal-Mart and Amazon make headlines, a vast number of retailers do not use pricing intelligence. In the 2013 edition of Retail Systems Research’s (RSR’s) annual pricing survey, just 13% of retailers around the world had fully deployed any solutions. That may sound small, but the option wasn’t even included in the 2012 survey. Fifty-four percent of respondents were somewhere between exploring the idea and rolling it out. Separately, 23% cited gaining margin advantage through dynamic pricing as one of the top three business opportunities related to pricing.
Even as there’s huge potential for leveraging data, most retailers are stuck somewhere between the hypothetical and executable.
When RSR looked specifically at pricing, lacking all types of accurate data was a leading barrier to more effective practices for retailers worldwide. Internal resistance to change was of equal concern, and lack of talent was close behind.
Knowing as much as possible about one’s own products is fundamental, and that goes beyond pricing. Kris Kubicki, co-founder and chief architect of Dynamite Data, elaborated: “It’s the stock status, the availability, the ratings and the reviews of those products before you even start building a model. You’ve got to have everything set up before you start jumping headfirst into it.”
The full report, “Dynamic Pricing: What Retailers Need to Know About Competing in Real Time,” also answers these key questions:
This report is available to eMarketer corporate subscription clients only. eMarketer clients, log in and view the report now.
You've never experienced research like this.
Nearly all Fortune 500 companies rely on us.
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Mariah Carey Readies Stocking Stuffer ‘Merry Christmas II You’
Mariah Carey’s planned remix project Angels Advocate may have gone straight to h-e-l-l, but she always has Christmas to fall back on! Details on the Lollipop Bling diva’s upcoming holiday album have been revealed, so head below to get all the details on Mimi’s ho-ho-ho!
Mariah released her first Yuletide-themed album Merry Christmas waaaaay back in 1994, and it spawned the modern day classic “All I Want For Christmas Is You.”
Today Rap-Up.com revealed the details on Mimi’s sequel to that one, which will be titled Merry Christmas II You. (Clever.) The set, which is said to contain original material as well as covers of holiday classics, will be released November 2.
There will be an accompanying DVD, and Rap-Up also notes that David LaChapelle shot the packaging.
Is it too early to ask Santa for a nice mixture of naughty and nice with the pics?


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GST Bill: How India's biggest tax reform will benefit economy
The much-delayed GST rollout can help boost the India's GDP growth by 1 to 2 percent as this will help faster and cheaper movement of goods across the country with a uniform taxation structure.
Zee Media Bureau/Ajeet Kumar
New Delhi: India moved a major step closer towards a unified goods and services tax regime across the country, with the upper house of Parliament passing the relevant Constitution amendment bill on Wednesday, in what is seen as the most radical indirect tax reform since independence.
The 66-year-old Constitution, which gives power to Centre to levy taxes like excise, and empowers states to collect retail sales taxes, was amended though the 122nd Constitution Amendment Bill.
The much-delayed GST rollout can help boost the India's GDP growth by 100-200 bps or (1 to 2 percent) as this will help faster and cheaper movement of goods across the country with a uniform taxation structure.
The proposed GST law is the most important reform towards creating a single market in India.
GST’s successful implementation would give a strong signal to the foreign investors about our ability to support business, besides; it will enable wide-scale changes in the tax structure which will have long term positive effects on our economy.
Currently, each state taxes goods that move across its borders at various rates, leading to multiple taxation.
The present taxation rate peaks at 26.5 percent (Cenvat of 14 percent, and VAT of 12.5 percent) apart from the state level corporate tax of 2 percent for transferring inter-state goods.
The proposed dual GST model (central GST and state GST) proposes to replace around 29 state and federal taxes and tariffs for a single tax at the point of sale. The current combined Centre and state statutory rates for most goods works out to be 26.5 percent but GST is expected to bring it down to 18-21 percent.
As per Care Ratings report, logistics industry is projected to grow at a compounded annual growth rate of 15-20 percent between 2015-16 and 2019-20 that will get a further boost if GST is rolled out from this year, which can trim costs by 20 percent.
"Logistics industry is likely to clip at CAGR of 15-20 percent during 2015-16-2019-20 and if GST is rolled out this year this can bring down the logistic costs by up to 20 percent from the present levels," it said.
Cost can also come down drastically as a one-nation-one- tax GST structure can massively reduce the long and winding queues at border check-points and other entry points within and between the states.
Another reason for lower logistics cost is that operators will be able to rationalize and restructure their warehouses and other logistical infrastructure.
Due to trade barriers such as the entry tax, local body tax, Octroi and other hurdles, trucks idle for 30-40 percent of the day, leading to huge man-hour and fuel losses, says the report.
Since GST will be levied on goods transportation and full credit will be available on interstate transactions, logistic cost is expected to come down by 1.5-2 percent of sales due to warehouse optimization and the resultant lower inventory cost.
According to a recent World Bank report, corporates can save up to 40 percent of their logistic costs incurred at check-posts and toll plazas.
According to the report, the higher growth of the logistic industry will be driven by e-commerce, GST rollout, government focus on local manufacturing, the new national integrated logistic policy, and 100 percent FDI in warehouses, food storage facilities etc.
But in spite of large potential, the industry remains entangled in complexities such as higher costs, a myriad of complex tax structures.
The logistic sector is primarily divided into four segments -- transportation, warehousing, freight forwarding and value-added logistics.
The transportation contributes the lion's chunk of 60 percent of the logistic pie, followed by warehousing compromising industrial and agricultural storage at 24.5 percent. Packaging and other related businesses constitutes the rest of the segment.
The existing interstate taxation system has forced companies to create and maintain warehouses in each state and at present each company has 20-30 warehouses, in addition to this 20-30 carry & forwarding agents in each state making the supply chain longer and inefficient.
While GST may push up inflation in the short term because the price of some goods will rise, economists say it will boost business activity and deter tax evasion. About 150 countries worldwide have some form of GST or VAT (Value Added Tax), according to the Organisation for Economic Cooperation and Development.


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21 de March de 2023
At Gesvalt, we have published our Real Estate Trends Report for 2023. The study, carried out by the company’s Research Department, predicts an adjustment in the volume of home sales and purchases of around 10% for the coming year.
At Gesvalt, we have published our Real Estate Trends Report for 2023. The study, carried out by the company’s Research Department, predicts an adjustment in the volume of home sales and purchases of around 10% for the coming year due to the rise in interest rates decided by the ECB and the decline in the citizens’ purchasing power. This circumstance, which will also lead to the stabilisation of housing prices and could even cause them to fall slightly during the last months of the year will also imply a shift in demand towards the rental market.
Despite this, our experts warn that there could be a decline in the supply of housing in this segment, due to the reluctance of some homeowners to put their properties on the market following the announcement that the 2% cap on Y-o-Y increases in rent will be maintained throughout 2023. For this reason, we should highlight the increased importance that will be gained by Build to Rent, with a growing investment volume in this sector in recent years to account for more than 50% of housing investment in 2022. In any case, both the rise in interest rates and the cap on rents could slow down the rising trend of this segment, since they impact directly on yields.
In this sense, our Trends report also asserts that one of the main challenges for this year will once again be to facilitate access to affordable housing for a large part of the demand, especially for young people.
This, along with the fact that 2023 will see the materialisation of the affordable housing projects of the European Next Generation funds and those that are part of the State Plan for Access to Housing 2022-2025, will boost the affordable housing market, which could become a safe haven asset for investors. This is due to the fact that investment funds are starting to see affordable housing as an opportunity with a stable yield, sustained demand and a return not only at the economic but also at the social level.
Also linked to Next Generation funds, as stated in our report, 2023 will be the year of building refurbishment and adaptation. In this regard, the need of compliance with sustainability criteria will oblige a large number of professionals to adapt to these “new” standards, since major changes will be observed in both traditional construction works and materials used in refurbishment and rehabilitation. It is currently estimated that around 80% of the building stock has a poor energy performance, so we expect a large number of homeowners’ associations to take advantage of the opportunity that the funds will provide to resolve obsolescence issues in the energy performance of their buildings.
After remaining unchanged for more than 10 years, the trend reversed in 2022, being the first period in which physical sales grew on a year-on-year basis above e-commerce sales. Specifically, the growth of the digital channel was 11%, compared to a 13% increase in traditional commerce. Our experts see this as a new enhancement of physical commerce by society and predict that, in the coming year and years to follow, the increases in both channels will evolve in parallel, truly demonstrating the achievement of omnichannel success by the retail sector.
Furthermore, this phenomenon arises in a positive period for the retail sector despite the difficulties experienced in 2022. In the past year, retail revenue was 4.2 billion euros, tripling the figure for the previous year and even exceeding the results of 2017 or 2018. High Street accounts for 70% of the total, practically 10 times more than in 2021, while investment in supermarkets accounts for 15%, in shopping centres 10%, and in retail parks 5%. Nevertheless, it should be noted that these investments have mostly been self-financed, given the tightening of financing conditions and the rise in interest rates. In the report, our experts assert that this trend will continue in 2023, with an increasing number of deals that do not require financing while the rest will remain in a “wait-and-see” position.
With 2.6 billion investment volume in 2022, there is no doubt that the office sector remains a strategic segment for investors, accounting for 19% of non-housing investment in the real estate sector.
In this context, 2023 is expected to be a stable year for this segment, slowed down by the tight financing conditions, but supported by European funds, which will back fixed investment and an expected good evolution of both the volume of transactions and yields. In this regard, at Gesvalt, we see the potential increase in companies’ floor space needs as a key factor, given the upward trend in the face-to-face work model, which rose by more than 50% in 2022.
With the new legal regulations, the commitment to a more sustainable logistics sector will be crucial in 2023, as stated in our report. To achieve this, the sector will have to invest in technological advances such as machine learning or process automation to comply with regulatory requirements and maintain competitiveness.
In this regard, at Gesvalt we observe that the logistics market will require more and more workforce talent specialising in technological aspects, so artificial intelligence and data analytics will have increasing relevance in the progress of the sector.
We are a reference company in the provision of advisory and valuation services and technical actions. More than 20 years’ experience, a team of highly qualified professionals and the firm commitment to offering high quality service are the keys to becoming strategic partners of the main private companies and public institutions.
We have a wide office network in Spain, Portugal and Colombia. The company is also a member of the international group VRG, which allows us to provide services in the main countries worldwide.


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$158 Million Settlement between Sprint and Verizon Offering Customers to Seek Refund by December 31st
Both Sprint and Verizon agreed to pay $158 million to the customers as a part of the federal settlement between the two companies. All those customers, who have been charged illegally over wireless phone bills have been requested to get their claims refunded by December 31st either through online or mailed. Customers have been charged for unauthorized third-party services on their bills by companies offering services like ringtones, horoscopes and celebrity gossip. The U.S. Sen. Richard Blumenthal, D-Conn., a member of the Senate Commerce Committee, said the practice is called ‘cramming’. The Senator added that the practice has become widespread and caused financial harm to subscribers. But, now customers who seek they have been charged improperly for their services can seek refund.
Many customers were targeted in the act of ‘cramming’ through ads that once clicked on take away the customer to the websites asking for their cell phone numbers. Some merchants tricked consumers into providing their numbers to get ‘free’ digital content only to be charged for it. In some of the cases, merchants fabricated charges without delivering any goods or communication with consumers. According to the CFPB, the companies received as much as 40% cut of the gross revenue from these charges, which were incurred from about 2004 to 2013. Debra Lewis, spokeswoman, said “Well before any government action, Verizon Wireless stopped allowing companies to place charges for premium text message services on customers' bills”. Long before, Sprint returned tens of millions of dollars which the government initiated its investigation of our industry. In October 2014, New York Attorney General Schneiderman announced similar settlements with AT&T (T) allowing the company to pay $105 million. Similarly in December 2014, the settlement with T-Mobile resulted in out $90 million to the company.
Under the refund program to be overseen by the CFPB, Verizon customers can submit claims for refunds at www.CFPBSettlementVerizon.com or ask questions by calling 888-726-7063. Sprint customers can submit claims atwww.SprintRefundPSMS.com or call 877-389-8787.
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A recent report claims one Foxconn Technology Co Ltd (TPE:2354) (OTCMKTS:FXCOF) employee stole iPhone 6 shells and sold them to a market in Shenzhen, China last summer.
The employee was identified only as Qiao. The 40-year-old man was detained by police on September 4th right after he was allegedly discovered stealing six iPhone 6 shells from the assembly line and subsequently sold them in a market for 6,000 yuan. According to the Wall Street Journal, the factory confirmed one of the employees was detained and the investigation is ongoing.
Assets in private equity and venture capital strategies have seen significant growth in recent years. In comparison, assets in the hedge fund industry have experienced slowing growth rates. Q2 2021 hedge fund letters, conferences and more Over the six years to the end of 2020, hedge fund assets increased at a compound annual growth rate Read More
Why Foxconn employee stole iPhone 6 shells
Reports indicate this first happened in July when the employee saw an ad for a company which claimed it was purchasing Apple Inc. (NASDAQ:AAPL) parts for high prices. After he stole a single shell for 1,000 yuan in return, he reportedly stole 5 more shells.
A representative for Foxconn elaborated in an emailed statement, “As a matter of company policy, Foxconn does not comment on any aspect of our work for any customer. However, we can say that we have a strict Company Code of Conduct that our company and our employees are expected to follow and we do not hesitate to take the appropriate action, including bringing matters to the attention of the relevant law enforcement authorities, should we determine that this Code has been violated.”
Apple has yet to comment on the employee’s detainment.
iPhone 6 offers a lot of promise
The iPhone 6 and iPhone 6 Plus are must-have gadgets thanks to the larger, thinner design and exciting new features. These devices offer so much more thanks to Apple Pay, Heatlh App, and revamped iOS 8. Not surprisingly, the iPhone 6 pre-orders are selling out. These devices have a lot of potential and fans know that. Some features, namely the near field communication feature, are essentially limited for at least a year. Earlier, Apple confirmed NFC is limited to the mobile payments app for a limited time.


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- Renders Tip Touch ID Embedded Under Display
- iPhone 8 is seen running on iOS 11 in this leak
- New Control Centre seen running on the phone
iPhone 8 renders have been leaked aplenty, but today’s leak brings reimagined renders of the smartphone running on the newly announced iOS 11 for the first time. The latest renders shows how the new Control Center, Lock Screen, Apple Music, and even the Messages apps will look on the iPhone 8’s rumoured bezel-less display. It also shows the iPhone 8 from varied angles giving us a glimpse at what possibly is incoming in the future.
iDropNews has leaked these fresh renders, and talking about the design first, it sports the bezel-less design with no Home Button in the front, and a small lip at the top edge to place the earpiece, and front camera sensor. The report states that the iPhone 8 will also have a front laser and infrared sensor to bring facial recognition capabilities. As for Touch ID, the report reiterates that it will be embedded underneath the display.
The iPhone 8 is also expected to embed a large pad on the inside for introducing wireless charging capabilities. At the back, we see the vertical dual camera setup that is going to be essential for AR features to work. Apple has almost confirmed that the iPhone 8 will sport AR features, thanks to the ARKit released with iOS 11.
The launch date of the iPhone 8 is another mystery with some reports claiming a delay due to production issues, and some claiming that it will be on schedule and launch in September. Apple is expected to integrate an OLED display, an Apple A11 chip, and a 3D front camera as well.
For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and subscribe to our YouTube channel.


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The University of Washington has signed a contract with Nike that gives a watchdog group the right to inspect its overseas factories. The contract could become a model for other universities around the country.
In what may become a precedent-setting contract, Nike has agreed to give a watchdog group the right to inspect working conditions in overseas factories that make Husky apparel for the University of Washington.
Many other colleges and universities around the country are expected to follow the model contract that the UW has negotiated, said Rod Palmquist, a former UW graduate student who was part of the negotiating team.
At issue was Nike’s refusal to allow a watchdog organization, the Worker Rights Consortium (WRC), to inspect the factories where it makes clothes.
“It’s a very significant victory,” Palmquist said.
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UW President Ana Mari Cauce agreed. In a statement, she said the UW is the first school to have such a contract with Nike, “and I’m confident it will serve as a model for other universities moving forward.” She said she believed that “UW leverage and advocacy made a significant difference in the final outcome.”
Nike sells millions of dollars worth of college-branded gear throughout the country, in stores like the UW Bookstore, to sports fans. Under the contracts, each college and university gets a cut of the proceeds for gear that features that university’s logo.
The agreement does not cover the UW’s contract for athletic apparel, according to Carter Henderson, a UW associate athletic director.
A student-led group, United Students Against Sweatshops (USAS), was behind the push to renegotiate the contract. Nationally, USAS has staged protests outside Nike stores around the country to draw attention to the issue, and in the spring, dozens of students showed up at a UW Regents meeting to push for a change to the contract that would allow the watchdog group entry to the factories.
An industry-affiliated organization, the Fair Labor Association, has been inspecting the factories, but student activists said the group was turning a blind eye to violations. The new contract gives both groups entry.
Under the terms of the contract, Nike must withdraw orders from a factory if workplace violations are discovered and the company is unable to get the factory to agree to a remediation plan, Palmquist said.
“It is a precedent-setting contract that expands the influence of anti-sweatshop activists and credible monitors like the WRC, in a way that gives workers more of a voice than they had when this campaign started,” Palmquist said.


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There’s no stopping the Ford F-150.
The Ford truck topped the Kelly Blue Book’s recent list of most popular cars and trucks across the country, sweeping 21 states in 2016.
The F-150 was also the most popular vehicle in Utah last year, according to Kelly Blue Book.
Car buyers have started to purchase more SUVs than pickups or sedans, according to USA Today. In fact, 10 states chose SUVs over pickup trucks.
But compact cars, like a Honda Civic or Toyota Corolla, led the way in California, Ohio, Florida, Puerto Rico and Washington, D.C.
Tim Fleming, analyst for Kelley Blue Book, told USA Today that the data may change next year.
"Sedans are rapidly falling out of favor," Fleming said. "The Camry, Civic and Corolla have dropped from the fourth, fifth and sixth places to seventh, eighth and ninth this year. We don’t see this trend stopping anytime soon, although the new Camry could boost sales in the short term."
Previous data from Google found that the Subaru Crosstrek topped the list in Utah. Subaru’s also led the way in multiple other states, including Massachusetts, Oregon and Pennsylvania.
East Coast states often searched for more hatchback and crossover cars, with bigger states looking into bigger cars.
Still, Ford dealerships often are the most popular in Utah, according to a report from Foursquare Swarm, which identified the most popular cars in each state.


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500 cheese burst moments. 500 Domino’s Pizza stores in India. 500 choco lava moments. 500 khushi bhari locations across India. From the first store which opened in 1996, to the 500th this week – Domino’s has been spreading khushi all across India, from the beaches of Goa to the hills of Gangtok, from the high-rises of Gurgaon to the temple streets of Madurai.
The 500th store was opened by Mr. Richard Allison (Executive Vice President – Domino’s Pizza Inc.), Mr.Shyam S. Bhartia (Chairman, Jubilant FoodWorks) & Mr. Hari S. Bhartia (Vice-Chairman, Jubilant FoodWorks). The store is located in Rajender Nagar, Pusa Road, New Delhi. Yeh hui na Khushiyon ki Delivery.


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Toyota Testing New Solar Panels to Increase EV Range
Placing solar panels on electric cars makes plenty of sense. Lithium-ion battery packs are close to having a similar range to gasoline-powered cars, but they're still some distance off. Having high-tech solar panels that feed clean energy back into the vehicle would improve range for no additional cost. It seems like a great idea in theory, but in practice, it's a tricky thing to perfect.
Toyota's Been Perfecting Solar Tech
Back in 2016, Toyota had solar cells on the Prius PHV that was only offered in Japan. But now, the automaker is back with its latest batch of solar cells that are from a partnership with Sharp and Japanese national research organization NEDO. Once again, the solar panel cells will be placed on a Prius.
Working with NEDO and Sharp, Toyota set out to study how solar cells could affect the cruising range and fuel efficiency of a battery-powered car. The technology has been in the works for three years and began as part of the PV-powered Vehicle Strategy Committee. The goal of the committee is to achieve an output of 1 kW in vehicles through a solar battery module.
The new solar panels have been greatly improved from the ones found on the 2016 Prius. They measure in at 0.03 mm thick and, thanks to their more compact size, have been placed throughout the majority of the Prius' body, including the curvier parts of the body. Places like the rear trunk, hood, and vehicle roof have all been outfitted with solar panels. Together, they account for 860 watts of power output. That's a major improvement over the solar panels on the Prius from 2016 that only had a power output of 180 watts.
While the number of solar panels has a lot to do with the increase of total output, their conversion efficiency has increased, as well. The old solar panels had a conversion efficiency of just 22.5 percent. That figure has gone up in the new panels to roughly 34 percent.
Charging While Driving
Another major enhancement was made when it comes to charging. In the old Prius PHV, the solar panels would only get energy when the vehicle was parked. While helpful, it only accounted for less than 4 extra miles of total range, instead primarily assisting with running auxiliary items, like the navigation system, when the vehicle was standing however. The new solar panels have an innovative system that allows them to charge the vehicle while it's being driven. And now, range is up by roughly 27.6 miles.
Public road trials of a Prius with the new solar panels will commence this month. It's likely that, once again, the technology will be limited to Japan.
Toyota isn't the only company looking into solar cells to help power EVs. Dutch company Lightyear recently came out with a vehicle that has an extensive amount of solar panels for an extra 60 miles of range.
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Those of you dreaming about a white Christmas here in middle Tennessee may have got your wish. The roads are covered in ice and slippery, and there is a light snow falling. Temperatures are not expected to rise out of the 20s until at least Sunday which means we could have the snow and ice on the ground come Christmas morning.
In related news, Kroger and Wal-Mart report no bread and milk on the shelves. BlockBuster is currently down to having Ernest Goes to Jail
available for rent....
posted by Michael Hickerson at 12/23/2004 09:54:00 AM


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Ardbeg Supernova marks space experiment endBy Amy Hopkins
Islay Scotch whisky brand Ardbeg has revealed the third edition in its Supernova series to coincide with the return of its whisky vial from space.
In late 2011, Ardbeg, owned by Louis Vuitton Moet Hennessy (LVMH), launched a vial of whisky into out of space to test the affects of gravity on the maturation process.
Working with US space research company NanoRacks LLC, the samples have been sitting in the International Space Station for the past three years.
The vial will re-enter the earth’s atmosphere on 12 September, landing in Kazakhstan. The sample will then be taken to Houston, Texas to be reunited with the test sample from Ardbeg’s warehouse #3 to begin the analysis.
Dr Bill Lumsden, Ardbeg’s director of distilling and whisky creation, will lead the research alongside NanoRacks LLC. “We are now close to the end, close to finding answers to something previously unknown, which is truly exciting,” said Lumsden.
Thought to be Ardbeg’s “peatiest single malt”, the third edition of Supernova 2014, named after an exploding star, has been launched to coincide with the return of the whisky vials.
It follows the release of Ardbeg Galileo, a limited edition 12-year-old single malt which was launched in 2012 to celebrate the start of the distillery’s space experiment.
Ardbeg Supernova is described as having an aroma of smoked lemons and pears, and a “peppery, spicy and electric” taste with underlying medicinal notes.
Bottled at 55% abv, the expression is available from select whisky stores and on the Moët Hennessy Selection from 12 September at an RRP of £124.99.


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SYDNEY — Billabong International is back in play with the head of its US operations emerging as a potential white knight.
The Gold Coast, Queensland-based surf wear manufacturer said Monday morning that Paul Naudé, Billabong's president of the Americas and a Billabong director, is temporarily stepping aside to raise capital for a proposed leverage buyout of the company.
"Mr Naudé has advised that he is seeking to hold discussions with potential financiers, both debt and equity, to gain their support for a potential change of control transaction of Billabong. Mr Naudé's decision was not solicited by the Board of Billabong and Mr Naude has confirmed that there is no agreement, arrangement or understanding with any member of the Board of Billabong's senior management team in regard to his proposal. He is acting independently," the company said in a statement released to the Australian Securities Exchange.
Billabong's shares jumped as much as 17.6 percent on the news in early trade, valuing the company at 417 million Australian dollars or $430 million at current exchange rates. Billabong shares closed 10.14 per cent higher on Monday, at 81.5 Australian cents or $0.84.
According to the announcement, Naudé is being granted six weeks of leave from his position and no confidential information regarding the company will be supplied to potential investors.
Naudé’s proposal is the latest potential bid on the table for the embattled company which posted a fiscal year 2011-2012 net loss of $275.6 million, or $285.5 million at exchange rates for the period.
In February, Billabong rejected an initial offer from TPG Capital of 3.30 Australian dollars, or $3.53 per share at average exchange. TPG returned in July with a new bid of 1.45 Australian dollars, or $1.49, per share. That second offer valued the company at 695 million Australian dollars, or $713 million, but TPG walked away from the deal six weeks after commencing due diligence citing undisclosed "issues" with Billabong's books.
In late September rival US private equity firm Bain Capital matched TPG Capital’s 1.45 Australian dollar bid but walked away after a fortnight of due diligence.
Billabong's shares plunged to record lows of below 80 Australian cents on news of the two withdrawals – prompting questions by analysts about precisely what the suitors might have unearthed.
South African-born Naudé - a former pro surfer and vice president of the Surf Industry Manufacturers Association, who is currently president of SIMA's Environmental Fund - is a 14-year veteran of Billabong.
Previously chief executive officer of Gotcha South Africa and executive vice president of Gotcha International, Naudé joined Billabong in September 1998 as president of its newly-established American division. During Naudé's tenure, he has overseen Billabong's US expansion, the move into womenswear and the acquisition of brands such as Element and Von Zipper.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)


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Providing a glimpse of normalcy for an auto industry and world gripped by fear of the coronavirus, Honda Motor’s car assembly plant in Wuhan, China — the city at the epicenter of the global pandemic, partially resumed production Wednesday 11th March.
Honda has now put all of its production bases in China back to work. Honda initially aimed to restart production in the capital of Hubei province as early as Feb. 24, but was compelled to extend the suspension until Tuesday in accordance with the policy of the Chinese provincial government.
The assembly plant, which built 791,518 vehicles last year, shut down for the annual Chinese spring holiday Jan. 23. Scheduled to reopen Feb. 3, the plant was closed indefinitely when the Chinese government sealed off Hubei province to control the virus’ spread.
“This is important, good news,” Eric Noble of consultant The Carlab said. “Never underestimate the resiliency of the auto industry.”
Honda’s joint venture with local automaker Dongfeng Honda Automobile Co. Ltd. employs 12,000. Honda said parts of three four-wheel vehicle plants in the city restarted operations on Wednesday in what it called “small volumes.” The plants have a combined output of 600,000 units a year.
Meanwhile, Nissan Motor Co. plans to restart is plants in Xiangyang, also in Hubei province, and Zhengzhou in Henan province within this week. “We are preparing for the resumption while trying to ensure the safety of workers and closely monitoring supply chain conditions,” a Nissan official said.


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Bang & Olufsen to host grand opening for Downtown store
Bang & Olufsen, the Danish luxury consumer electronics retailer, recently opened its Downtown Cincinnati showroom.
It's one of 50 U.S. locations, and the only store in the Midwest, for the company, which carries audio, video and multimedia products such as televisions, music systems and speakers.
A plug-and-play line, geared to younger urbanites, includes headphones, as well as streaming and portable music systems. Available "smart home" systems range from simple to complex and can control everything from music to temperature to gates and more, according to Per Bokmand, manager of the new showroom. His business partner, Carlos Navarro, is the owner.
Bokmand said the brand differentiates itself through attention to detail and craftsmanship. "A lot of our products have a little touch of magic," he said, noting that Bang & Olufsen is the only consumer electronics company to be featured in the Museum of Modern Art.
Automotive and hospitality solutions for the hotel industry are also offered.
Housed in the former Bankhardt's building at 6 W. Fourth St. (at Vine Street), the 2,200-square-foot showroom was designed to highlight the architecture of the 1850s building, including stamped tin ceilings and hardwood floors. Bang & Olufsen products are on display, and customers can bring their own music to try out on the company's systems.
Bokmand hopes the new showroom will help bring more luxury retail to the urban core.
"The future of Downtown Cincinnati is bright, and we are ecstatic too be a part of it," he said.
Hours are 11 a.m.-7 p.m. Monday-Friday; noon-6 p.m. Saturday; or by appointment. 513-808-4808; http://beocincinnati.com/


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S&P 500 Falls Most Since November Amid Valuation ConcernCallie Bost
U.S. stocks fell, sending the Standard & Poor’s 500 Index to its biggest loss in two months, amid concern over valuations after benchmark indexes rallied to all-time highs in 2013.
Companies from Microsoft Corp. to Nike Inc. and Walt Disney Co. dropped more than 2 percent, with all 10 main industries in the S&P 500 declining. Lululemon Athletica Inc. slumped 17 percent after the sportswear maker lowered its profit and sales forecast. Intercept Pharmaceuticals Inc. plunged 18 percent after the stock soared sixfold last week. Beam Inc. jumped 25 percent after Suntory Holdings Ltd. said it will acquire the spirits maker in a $16 billion deal.
The S&P 500 fell 1.3 percent to 1,819.20, the lowest level since Dec. 20, at 4 p.m. in New York. Some 464 companies in the S&P 500 declined today, the most since Aug. 27, data compiled by Bloomberg show. The Dow Jones Industrial Average lost 179.11 points, or 1.1 percent, to 16,257.94, for the biggest drop since September. About 7.2 billion shares changed hands on U.S. exchanges, the most since Dec. 20.
“Sentiment is extremely optimistic and that’s a negative for stocks,” Bruce Bittles, chief investment strategist at RW Baird & Co., said by phone from Sarasota, Florida. His firm oversees $105 billion. “That means for the short term they’re fully invested. Stocks have entered the new year overbought and over-believed and until we digest that, we’re likely to stay in this range.”
The S&P 500 has dropped 1.58 percent so far in 2014, the worst start to a year since 2009, according to data compiled by Bloomberg. The index ended last year at a record, having climbed 30 percent for its biggest annual rally since 1997.
Valuation for the S&P 500 is “lofty by almost any measure,” Goldman Sachs analysts wrote in a note Jan. 10. Further price-to-earnings expansion will be difficult to achieve, according to the note.
The benchmark index trades at 15.4 times the estimated earnings of its members, more than the average multiple of 14.1 over the last five years, data compiled by Bloomberg show. The gauge ended 2013 at its highest valuation since the end of 2009.
“The way to think about the market is the level of earnings and the multiple which should be applied to that earnings growth,” David Kostin, chief U.S. equity strategist at Goldman Sachs, said today on Bloomberg Television. “Those really are the fundamental drivers of the level of U.S. equity markets this year.”
JPMorgan Chase & Co., Bank of America Corp., Goldman Sachs, and Citigroup Inc. are among 29 members of the S&P 500 to report quarterly results this week. Earnings for companies in the index probably climbed 4.9 percent on average in the fourth quarter, while sales increased 1.8 percent, according to analyst estimates compiled by Bloomberg.
Stocks extended declines today after Federal Reserve Bank of Atlanta President Dennis Lockhart said the U.S. economy is on “solid footing” and he would support continued cuts to stimulus.
Three rounds of monetary stimulus from the Fed have helped push the S&P 500 higher by 169 percent from a 12-year low in 2009. The Fed, which next meets Jan. 28-29, last month announced a reduction in its monthly bond-buying program, citing a recovery in the labor market.
The S&P 500 increased on Jan. 10 after a report from the Labor Department showed employment rose in December at the slowest pace in almost three years. The data ended months of improving job growth that had signaled the world’s largest economy was picking up.
“It sounds as if the Fed is staying on its course of tapering,” John Carey, a fund manager at Boston-based Pioneer Investment Management Inc., said in a telephone interview. His firm manages about $220 billion worldwide. “Whatever mixed signals could have come from the jobs numbers, they’re looking at the overall picture.”
The Chicago Board Options Exchange Volatility Index, which measures expected swings on the S&P 500 using options prices, rose 9.4 percent, the most in a month, to 13.28. The gauge fell 12 percent last week to its lowest level since Aug. 5.
The Morgan Stanley Cyclical Index and the Dow Jones Transportation Average each fell 1.4 percent. Microsoft decreased 2.9 percent to $34.98, while Disney tumbled 2.8 percent to $73.27 for the largest declines in the Dow industrial average. Nike fell 2.3 percent to $75.18 and Exxon Mobil Corp. slid 2 percent to $98.55.
The KBW Bank Index slumped 1.3 percent as Bank of America dropped 2 percent, the most since October, to $16.43 and Citigroup slipped 1.8 percent to $53.72. Homebuilders in the S&P erased 2.5 percent as PulteGroup Inc. lost 3.8 percent to $19.40 and D.R. Horton Inc. decreased 2.7 percent to $21.55.
All 10 main industries in the S&P 500 retreated. Consumer-discretionary companies and energy producers fell more than 1.9 percent. Kohl’s Corp. plunged 6.2 percent to $53.46 and Michael Kors Holdings Ltd. slipped 3.9 percent to $76.67. Gap Inc. dropped 4 percent to $38.25.
Lululemon slumped 17 percent to $49.70, the lowest level in two years. The yogawear retailer cut its revenue and earnings forecast for its fourth quarter ending Feb. 2. Lululemon joins retailers from L Brands Inc. to Family Dollar Stores Inc. that have cut forecasts this month in the wake of a margin-eating price war this holiday season.
Vancouver-based Lululemon has been trying to win back customers after being forced to recall pants last year for being too sheer and has struggled to overcome supply-chain delays as it expands overseas and fends off growing competition.
Intercept plunged 18 percent to $364.36. Chief Executive Officer Mark Pruzanski said he may need the help of a larger drugmaker to bring the company’s experimental liver-disease treatment to market. The stock soared 545 percent last week after a trial of the drug worked well enough for the testing to be stopped.
Symantec Corp. fell 5.4 percent to $22.20 after Morgan Stanley lowered its rating on the stock to underweight from equal weight. The brokerage predicted that revenue would rebound more slowly as Symantec reorganizes its sales force, potentially limiting its profitability.
Beam jumped 25 percent to $83.42, an all-time high. Osaka-based Suntory, the maker of Yamazaki whiskey and the Premium Malt’s beer, is seeking to boost overseas growth by gaining brands such as Maker’s Mark whiskey, Jim Beam and Canadian Club liquor.
Suntory will pay $83.50 per share in cash and take over all of Beam’s outstanding debt, according to a joint statement. The companies said they expect to complete the deal by the end of June. The deal, once completed, will create the world’s third-largest premium spirits company.
Juniper Networks Inc. climbed 7.6 percent to $25.32, the highest level since July 2011. The maker of computer-networking equipment has been targeted by activist hedge fund Elliott Management Corp., run by billionaire Paul Singer, which will seek cost cuts, stock buybacks and other changes, two people familiar with the matter said.
Elliott is seeking talks with management and the company’s board, the people said.
Merck & Co. was the only company in the Dow to rise today, surging 6.5 percent to $53.12, the highest level in six years. The second-largest U.S. pharmaceuticals said it will seek early approval of a new cancer treatment and decide the future of the company’s animal health and consumer businesses this year.
Twitter Inc. rose 1.4 percent to $57.82. Goldman Sachs analyst Heath Terry raised the stock’s price target to $65 a share from $46, citing Twitter’s “significant acceleration” in innovation during the fourth quarter.
Twitter has seen five trading sessions of declines, falling 17 percent last week as the microblogging service was hit with analyst downgrades and Cowen & Co. initiating coverage of the stock with the equivalent of a sell rating.


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LOS ANGELES, March 1, 2016 /PRNewswire/ -- Saban Brands announced today that pop music star and YouTube sensation Megan Nicole will guest star in an upcoming episode of Popples, a Netflix original series for kids. Megan Nicole will make her animated debut as Squeaky Pop in the episode "Fallen Pop Idol" and will lend her voice to the new Popples original song, "Together with My Friends." "Fallen Pop Idol" premieres worldwide on Netflix on March 11 as part of the 10-episode season 2 of Popples.
With more than 3.5 million subscribers and nearly 700 million views on YouTube, singer/songwriter Megan Nicole has a massive fanbase thanks to her mix of original pop songs and catchy cover song music videos. Since rising to fame on YouTube in 2009, Megan Nicole has achieved celebrity status, releasing her debut album ESCAPE in 2014 before embarking on her nationwide Sweet Dreams tour. Megan Nicole is currently working on all-new music, releasing soon.
"Megan Nicole is an exceptionally talented and charismatic singer, who strongly resonates with today's generation of kids," said Janet Hsu, CEO of Saban Brands. "With these attributes, and her fun, energetic and colorful personality, Megan Nicole adds an exciting new dynamic to the series and seamlessly fits into the Popples world."
Popples follows the wacky adventures of the BPP's (Best Popple Pals), Bubbles, Sunny, Lulu, Izzy and Yikes. An amazing species of creatures, Popples are able to pop into and out of balls and roll around their city of Popplopolis at will. In "Fallen Pop Idol," famous pop star Squeaky Pop comes to Popplopolis for a concert. Bubbles, her biggest fan, is chosen as her personal assistant, but Squeaky Pop soon turns out to be more than she bargained for.
"I'm so excited to be a part of Popples and lend my voice for a great original song and cool new character in the series," said Megan Nicole. "With super fun characters and storylines, I was instantly drawn to this show and can't wait for everyone to see Squeaky Pop take the stage!"
Fans can now pre-order the new original song "Together with My Friends" or download it when it is digitally released via iTunes and Amazon on March 4. Popples fans can shop for their favorite plush at Walmart.com and Walmart stores in the U.S. Additional Popples plush, figures and playsets, from master toy licensee, Spin Master Corp., will be popping up onto shelves this fall.
Popples, a Netflix original series for kids, is a high-energy comedy series about an amazing species of creatures that can pop into and out of a ball. Based on the popular 1980's toy line and television series, Saban Brands has re-imagined the loveable Popples characters for a whole new generation of kids. The show is driven by the optimistic comedic enthusiasm of the BPP's (Best Popple Pals), Bubbles, Sunny, Lulu, Izzy and Yikes. Always wanting to help their friends, neighbors and each other, the Popples' efforts often backfire in hilarious ways and they must spend the rest of day trying to unwind the mayhem they have caused. Luckily they always manage to save the day in their own POP-tastic way! For more information, please visit www.popples.com.
About Megan Nicole
With over 3.5 million subscribers and nearly 700 million views on YouTube, pop-sensation Megan Nicole has taken the entertainment industry by storm. Born and raised in Katy, Texas, Megan rose to prominence in 2009 thanks to a series of high-production creative covers that took YouTube by storm. Quickly recognized for her raw talent and passion for music, she landed a spot in the coveted Top 100 Music Channels alongside top selling artists such as: Katy Perry, Adele, and Coldplay. In 2014 Megan released ESCAPE, her debut album of original songs which includes the hit single, "Fun," which has achieved 20 million views online. Following the international success of her debut EP "Escape," singer-songwriter Megan Nicole embarked on a North American headlining tour. The "Sweet Dreams" tour kicked off in Toronto, ON and continued throughout the United States. In addition to her tour, Megan developed and starred in the Relativity Digital Studios film "Summer Forever." The music video for the film's namesake song and creative inspiration, which was co-written and performed by Megan Nicole, has more than 14 million views online. The film was released on September 4, 2015 with an accompanying soundtrack released by Hollywood Records. In 2015 Megan was honored as one of the YouTube Music Awards winners alongside the likes of Ariana Grande, Taylor Swift, and One Direction. With a tour and new music on the horizon, this multitalented artist is breaking boundaries and leading the merging force between traditional and new media. For more information please visit www.megannicolemusic.com.
About Spin Master
Spin Master is a leading global children's entertainment company that creates, designs, manufactures and markets a diversified portfolio of innovative toys, games, products and entertainment properties. Spin Master is best known for award-winning brands including Zoomer™ Dino, Bakugan Battle Brawlers™, Air Hogs®, and 2016 Toys of the Year, Bunchems and Meccanoid G15. Since 2005, Spin Master has received 63 TIA Toy of the Year (TOTY) nominations with 16 wins across a variety of product categories. Spin Master has been recognized with 12 TOTY nominations for Innovative Toy of the Year, more than any of its competitors. Spin Master is among a limited number of companies that not only develop and produce global entertainment properties, characters and content, but also monetize that content through the creation, sale and licensing of products. To date, Spin Master has produced five television series, including 2007 hit series Bakugan Battle Brawlers and its current hit PAW Patrol, which is broadcast in over 160 countries and territories globally. Spin Master employs over 950 people globally with offices in Canada, United States, France, Italy, United Kingdom, Slovakia, Germany, the Netherlands, Mexico, China, Hong Kong and Japan.
About Saban Brands
Formed in 2010 as an affiliate of Saban Capital Group, Saban Brands (SB) acquires and develops a world-class portfolio of properties in the entertainment and lifestyle sectors. SB applies a global 360-degree management approach to growing and monetizing its brands through content, media, marketing, distribution, licensing and retail to markets worldwide and consumers of all ages. Saban Brands Entertainment Group (SBEG) develops innovative branded content that resonates with consumers across all media platforms. SBEG's growing entertainment portfolio of brands includes Power Rangers, Popples, Glitter Force, Cirque du Soleil – Luna Petunia, La Banda and others in development. Saban Brands Lifestyle Group (SBLG) drives major expansion within the company's diverse portfolio of fashion and lifestyle properties. SBLG's portfolio currently includes Paul Frank, Macbeth, Mambo and Piping Hot. SB operates a global network of offices in Los Angeles, New York, London and Sydney. For more information, visit www.sabanbrands.com.
Alison Brod PR for Saban Brands
SOURCE Saban Brands


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NEW DELHI: The GST Council in its two-day meeting starting June 28 will discuss rate rationalisation of some items, extension of compensation scheme for states, and relaxation in online registration rules for business players, among others, according to sources.
The compensation scheme for states had ended on June 30 but states have been asking to extend it.
Meanwhile, the Council under the chairmanship of Finance Minister Nirmala Sitharaman in its 47th meeting will also discuss the Group of Ministers (GoM) report on levying 28% tax on online games, casinos and horse racing in place of the current rate of 18%. The panel will also submit the interim report recommending abolition of GST exemption for religious institutions where the booking is more than Rs 5,000. It has also recommended removing the exemption of tax on railway equipment and discounts on items like curd, and paneer.
“ The GoM has made recommendations to exempt the Reserve Bank of India (RBI), and Securities and Exchange Board of India (SEBI) services, and airports in the NorthEast from GST. Products related to petroleum/coalbed methane (CBM)can be excluded from the 5% slab,” the source said. He further added that option to pay 1% tax annually on turnover up to Rs 1.5 crore as recommended by fitment committee will also be assessed in the meeting.
“There are various proposals to reduce GST on sewage-treated water from 18% to zero categories, give input tax credits (ITC) benefit to Gencos on the export of additional power under the IGST Act,” the source stated while further adding that the Council may also decide to hike GST on Tetra Pack to 18% from 12%.
Further, the panel in the two-day-long meeting may also discuss taking a uniform 5% GST on all types of renewable energy equipment. Also, GST on artificial limbs and orthopaedic implants may be fixed at 5%, as per sources. In addition, on artificial limbs, and orthopaedic implants, GST may be fixed at 5%.
GST on donations to religious institutions
Panel will also submit the interim report recommending abolition of GST exemption for religious institutions where the booking is more than Rs 5,000


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Budweiser Brewing Group UK & Ireland has invested £6.3m in new green technology at breweries in Magor, South Wales, and Samlesbury, Lancashire, which produce over 17m cans of beer a week. The change will remove 850t of plastic from the market annually, according to the firm.
This total will include removing 250t of plastic rings previously used to hold packs of beer cans together – comparable to 117m plastic rings in total – and 600t of shrink film, normally used as tertiary packaging around trays used in the shipping of beer packs.
Part of industry global leader AB InBev, Budweiser Brewing Group has committed to meeting far-reaching Sustainability Goals embedded in its business, to preserve the natural resources needed to brew beer in the coming years.
“Protecting our natural resources and operating efficiently are crucial for our business, as well as the communities we live and work in,” said Paula Lindenberg, president of Budweiser Brewing Group UK & Ireland.
“This is why we have spent the past decade investing in circular packaging initiatives around the world to close the loop and reduce waste. We’re proud of the work we’ve already done so far, but we realised more needed to be done to address the issue of single-use plastics.”
Environment Minister Rebecca Pow added that through its Resources and Waste strategy, the government was working to eliminate all avoidable plastic waste, already driving down plastic bag use by 90% through the 5p charge.
Meanwhile, Coca-Cola European Partners will end the use of plastic shrink-wrap, replacing it with cardboard. As a result, more than 30 million packs sold to consumers each year will no longer be wrapped in plastic.
The new cardboard multipacks will be introduced on four-, six- and eight-packs of cans across all brands, including Coca-Cola, Diet Coke, Fanta, Sprite, Dr Pepper and Lilt. The packs will transition to cardboard over the next 18 months. Multipacks of ten cans or more are already wrapped in cardboard.
The plastic shrink-wrap currently used is recyclable. However, only 10% of local authorities collect this material, whereas 98% accept cardboard as part of household recycling.
The shrink-wrap will be replaced with 100% recyclable, sustainably sourced cardboard, with either an FSC (Forest Stewardship Council) or PEFC (Programme for the Endorsement of Forest Certification) certification.
The move is part of a wider initiative being introduced across Western Europe and will remove 4,000t of plastic from circulation across the region.


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The super-dramatic Karnataka elections has just about settled with a new government in power. Entrepreneurs of Bengaluru-based startups are sure that the push behind entrepreneurship and digital innovation will continue with the new government. However, they all have a common demand of better infrastructural facilities.
“The state has several policies favouring startups. But if we want to scale and create a dynamic ecosystem for startups, infrastructure has to be smoothed out. Not much has been done in that regard,”
said Raja Lahiri, Partner, Grant Thornton India.
The leading parties in the recently concluded Karnataka elections actively tried to appeal to the urban vote bank by showing support for startups.
The subsidy is one of the significant ones, under which, startups will be eligible to get up to Rs 1 crore as subsidy. The subsidy would have a grant component of up to Rs 25 lakh and the soft loan of about Rs 75 lakh at the rate of 6 percent interest.
The manifesto also envisaged housing over 20,000 tech-based startups, including 6,000 product startups, by 2020 through its Multi-Sector Startup Policy. The party claimed that such efforts will translate into 1.8 million job opportunities for the state.
However, entrepreneurs feel there’s a lot more to achieve, which include infrastructure development, ironing out transportation issues, besides forming favourable policies around filing for an exit and bankruptcy.
Gaurav Dhawan, the founder of fin-tech startup WealthApp, feels the new government is unlikely to introduce any new schemes at least for a year of its incumbency. He thinks that a smart city vision should be created for Bangalore with better connectivity, better commutation, and employing hi-tech solutions for civic issues such as polluted lakes and damaged roads.
Karnataka was the first state to announce a startup policy, in 2015, with a five-year time frame (till 2020). The policy aims to support startups through strategic investment and policy interventions. Rs 300 crore corpus was also set up to be disbursed in the form of grants equity to startups, and micro-and-small enterprises.
The state government has also introduced several schemes and policies to support startups through mentorship. It has gone ahead and incubated several of these startups under the Startup Cell.
Entrepreneurs agree that the concerted push from the government has helped startups in creating opportunities for new ideas and proof of concept. Karnataka government allows selected startups to work on civic initiatives taken by the State. However, awareness around the funding assistance is very low, especially beyond the metros, the entrepreneurs say.
According to the Startup India Policy website, DIPP has till now recognised 6,096 companies in India as startups. But only 74 of these startups have been approved for availing tax benefits, as of January 2018.
Some funds such as Chiratae Trust, which was sanctioned the highest corpus of Rs 90 crore under the Funds-of-Funds (FFS) managed by SIDBI, funded just 10 startups till September. Several others including Omnivore Partners India Fund II, Aavishkar Bharat Fund, Stakeboat Capital Fund, IndiaQuotient II, and Kitven Fund III have funded a limited number of companies with the government money.
Government’s funding is for seed-stage startups, which is not enough to scale up. To do that, startups will have to turn to venture capitalists. Entrepreneurs feel that it makes sense for the new government to take up issues that make inception, funding, and exit of startups difficult.
Aniket Deb, the founder of B2B packaging marketplace startup Bizongo, says that no government can ignore the wave of entrepreneurship.
However, entrepreneurs agree that there is a need to create success stories with better promotion and execution if the government’s startup policy is to be a success. Or else, it will be limited to be an incubation platform for young startups at best.