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Sumitomo Mitsui Trust Asset Management (SuMi TRUST) has recorded three years of outperformance by its Japan Small Cap II Fund, which launched in April 2018 and has over USD100 million assets under management (AUM).
Since inception the fund has returned +15.54 per cent on a cumulative basis compared to +4.45 per cent for its reference benchmark index, the Russell/Nomura Small Cap Index. The Dublin-domiciled fund, aimed at institutional investors in Europe and Asia, invests in listed Japanese small cap companies and seeks to achieve long-term capital growth through a bottom-up stock-picking approach backed by extensive fundamental research.
Compared to its benchmark index, the fund has a higher weighting in the information technology and healthcare sectors. SuMi TRUST has been focussing its small cap strategy in these sectors because digitisation, combined with other trends like an ageing population, is transforming the social and industrial structure of Japan, creating new growth opportunities for small and nimble businesses. Recently this strategy has paid off following the campaign to improve digitisation by the country’s new Prime Minister, Yoshihide Suga, as well as the boom in home-working brought about by the Covid-19 pandemic, underpinning the fund’s performance.
Among the Japan Small Cap II portfolio’s top holdings are Ain Holdings, a pharmacy chain focusing on online medication and counselling; Raksul, an online sharing platform for printing and advertising poised to benefit from the country’s digitisation push; and Oisix Ra Daichi, an online grocery and meal kit delivery service company that has seen its subscriber base substantially increase in number during the pandemic.
Chief portfolio manager Satoshi Marui, who has over 20 years’ experience in Japanese equities, has been responsible for SuMi TRUST’s Japanese Small Cap strategy since its inception in 2005. He also manages SuMi TRUST’s original Japan Small Cap fund which has been soft-closed since 2018.
The Small Cap II fund is similar to SuMi TRUST Japan Small Cap fund, and was launched because of increased investor demand for attractive investment opportunities in the growing Japanese small cap market. Compared to the latter, it invests in more liquid small cap stocks.
Satoshi Marui, chief portfolio manager of SuMi TRUST Japan Small Cap II fund, says: “This is a market where active management pays off. Japanese small caps are not well covered by analysts in comparison to their American or European counterparts, and a bottom up stock-picking strategy, informed by in-depth research to pick hidden winners, can deliver strong returns.
“Technological innovation is changing Japan at a fast pace, generating new business opportunities. Companies that can adapt to this, coupled with the ‘new normal’ post-Covid-19, will be key for long-term growth and small caps are often more suited to rapid change than larger businesses. We will continue to focus on detecting companies which have the potential to grow based on their own unique drivers over the mid to long-term as we believe these hold the key to generate returns for our investors.”


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Bubs integrates goat’s milk supply
The ASX-listed baby formula company has moved to secure its goat’s milk supply chain with a key acquisition.
Firms: Ashurst (Bubs Australia Limited); Arnold Bloch Leibler (NuLac Foods)
Deal: Bubs Australia Limited (Bubs) reached an agreement to acquire NuLac Foods (NuLac)
Value: $25 million
Key players: The Ashurst team advising Bubs was led by partner Kylie Lane (pictured) and included partners Elspeth Arnold, Kellech Smith, Jane Harvey, Mark Bradley, Richard Brooks, Kenneth Nguyen, Ian Kellock and Geoff Mann.
Deal significance: Bubs, an ASX-listed vendor of baby food and formula, reached an agreement to acquire 100 per cent of NuLac, which owns the brands CapriLac and Coach House Dairy. Bubs will also acquire a 49.9 per cent interest in the dairy facilities producing NuLac products, including Uphamgo Australia Pty Ltd.
The deal will see Bubs take control of its goat’s milk sources for its infant formula products.
Bubs Australia chief executive Nicholas Simms said: “The acquisition provides a pathway for Bubs to secure its source of goat’s milk for our premium infant formula products as part of Australia’s only vertically integrated goat milk nutritionals enterprise, with exclusive access to Australia’s largest herd of milking goats, which combined with the New Zealand farm, are currently producing in excess of 6 million litres of milk annually.”
On completion of the deal, Bubs will acquire NuLac’s sales and marketing functions, intellectual property and brands, and will enter into a tolling agreement with the Milk Processing Joint Venture and agreements with the vendors for exclusive rights to 100 per cent of their milk supply.
The acquisition consideration is $25 million cash, with further payments up to $13.4 million over two years if certain performance targets are met and ordinary shares in Bubs equivalent to 19.99 per cent of Bubs’ post-transaction issued capital.
Ashurst lead partner Kylie Lane said: “We are pleased to have worked closely with the board and senior management of Bubs on this strategically important transaction.
“The proposed acquisition will transform Bubs’ business and the successful capital raising is another strong sign of confidence in the strategy being pursued.”
The $25 million will be partly funded with equity raised through a placement and share purchase plan undertaken by Bubs.
The deal is contingent on shareholder approval, which will be sought at Bubs’ annual general meeting on 14 December 2017.
Pictured: Ashurst partner Kylie Lane

domain: news


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The OnePlus Nord has started receiving new OxygenOS version along with December 2020 Android security patch. In terms of updates, the phone is getting general bug fixes and stability improvements. OnePlus with the OxygenOS 10.5.10 update is also improving the phone’s OnePlus Store. The OnePlus Nord, that was launched in July this year, is yet to receive the Android 11-based OxygenOS 11. It appears that the phone would receive the next Android iteration in 2021 only.
At the moment, the OxygenOS 10.5.10 is rolling out to Nord users in India with the firmware version 10.5.10.AC01DA, while users in select European countries are getting version 10.5.10.AC01BA. As always, the over-the-air (OTA) update is rolling out in a staged manner and is currently reaching to a small percentage of users today. The company says that a broader rollout will begin in a few days, and in the meantime, OnePlus Nord users can check its availability manually by heading to Settings > System > System Updates. The software update does not bring any substantial changes except for the December 2020 Android security patch and other stability improvements. The OnePlus Store is getting upgraded to allow users to manage OnePlus account and “get easy-to-access support, discover exciting members-only benefits, and shop for OnePlus products."
Additionally, users who want to provide any feedback about the current update can use OnePlus Community app. The OnePlus Nord last received the OxygenOS 10.5.9 update in October that brought new notifications settings, quick reply feature, and Game Space for an improved gaming experience. The phone is currently available in India at starting Rs 24,999 for the base 6GB + 64GB storage option. Its 8GB + 128GB and 12GB + 256GB storage options are priced at Rs 27,999 and Rs 29,999, respectively. The Nord comes with a 6.44-inch full-HD+ display and Qualcomm Snapdragon 765G that brings 5G support. It carries quad cameras at the back and dual cameras at the front.


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Sustainability & green marketing
Havas Media Group's new global managing director talks for the first time since being promoted last year. By Arif Durrani.
With the likes of Unilever and P&G putting sustainability at the heart of what they do, brands have to start planning for the future now, write Jonathan Weeks, director, and Laura Furniss, development manager, Ipsos MORI Marketing.
I love fresh orange juice. The fresher, the better. While I don't go as far as squeezing my own oranges every morning along with a warm croissant, I can easily get through a carton a day - the smooth version, of course, not the one with the bits in i...
Cadbury, Nestle, Starbucks, Tesco and Waitrose are among the brands taking part in this year's Fairtrade Fortnight, which will concentrate its main hub of activity on Facebook.
Environmental credentials are becoming a consideration for consumers when choosing a mobile phone, with people indicating that O2's new eco ranking tool is a good idea, according to the latest BR Video.
LONDON - The direct marketing industry has achieved the recycling target set by the government and the Direct Marketing Association for 2009 and is already ahead of the goal set for 2013.
LONDON - Channel 4 has secured a second year-long sponsorship deal with Constellation Europe's wine brands Hardys and Echo Falls, for its hit show 'Come Dine With Me'.
LONDON - A Renault ad boasting that its new range of electric cars produce 'zero emissions', has been banned by the Advertising Standards Authority (ASA).
Latest jobs Jobs web feed
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- Data Journalist PRISM Highly Competitive, London
- Senior Brand Manager Diageo Great reward package for great talent, Amsterdam / Dublin / Madrid / London (Greater)


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The Major Change You'll See at Stores the Next Time You Go Shopping
Curbside pickup at retail stores will become the norm for phase one of reopening.
Now that many areas of the country have been without access to retail stores for months thanks to lockdown, many are anxious to get back to some of their favorite shops to restock on non-essential items and support local businesses. But as phased reopening begins across the U.S., customers will be stepping into an entirely different shopping experience—by not actually stepping into the shops at all. That's because curbside pickup and prepacked orders will be the new norm for non-essential retail stores opening during phase one for many states and counties.
While you may long to go back to perusing the aisles and racks of your favorite local stores, the Centers for Disease Control and Prevention (CDC) guidelines still stipulate that large crowds and indoor environment make it all too easy to spread COVID-19. To keep employees and customers safe, officials are planning on keeping all interactions at a minimum by eliminating busy boutiques and long checkout lines, with customers shopping and pre-paying ahead of time. Staff will also be expected to wear face masks, and hand sanitizer will likely be made available for anyone picking up their orders.
"When [a store is] closed or online you lose some of the magic, like you can't walk in and discover something you've never seen before," Mackenzi Farquer, owner of the Lockwood Shop Boutiques in Brooklyn and Queens, New York told NY1. To help boost her prepackaged sales, she plans on keeping her storefront wide open so customers who are picking up purchases can see other items and hopefully add to their orders on the spot.
Farquer says that online sales have helped her keep a small cash stream flowing into her businesses while they were shuttered, even allowing her to hire back some of her employees to help pack and order products. But she says not being physically open has severely hurt her numbers, especially after being closed for Mother's Day, reporting that "we only did 20 percent of the business we would expect to do." She's hoping that posting pictures of items will hopefully lure in new customers and orders from the street.
And for more information on how you can safely shop, learn The No. 1 Worst Thing You Can Do When Retail Stores Reopen.


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US oil output set to break records in 2018
The EIA has ramped up its US forecasts and predicts daily domestic oil output of 9.2 million barrels for this year and 9.7 million barrels in 2018.
Mar 09, 2017 09:04 AM EST
Samsung expands manufacturing in the US to produce home appliances
The South Korea-based technology giant will spend at least $300 million on the manufacturing project and is already discussing plans with five states.
Mar 09, 2017 09:05 AM EST
Disney chief defends seat on Trump’s business advisory council
Walt Disney Co.'s CEO says his seat on US President Donald Trump's advisory council is an opportunity to voice opinions that could benefit Disney and the company's shareholders.
Mar 08, 2017 08:46 PM EST
ESPN to implement job cuts that could extend to personalities who appear on TV, radio, online
Details of the job cuts will still be finalized but layoffs would definitely take place through as a consequence to delivering ESPN fans content consumption.
Mar 08, 2017 08:55 AM EST
Michael Hill International Limited appoints new CEO
The board and the employees in Michael Hill are excited by Taylor's appoointment as he sees to unlock new opportunities and new streams of value for the company.
Mar 07, 2017 10:00 AM EST
Vauxhall joins PSA Group in €2.2 billion deal, employees fear job losses
French company that owns Peugeot and Citroen enters into a €2.2 billion deal to buy General Motor's European unit which includes Vauxhall. General Motor CEO Mary Barra affirms Vauxhall's British brand while respecting the agreements on the workforce.
Mar 07, 2017 09:42 AM EST
German tycoon Schlecker faces fraud trial with family
Anton Shlecker is accused of offenses related to the 2012 bankruptcy of his pharmacy chain that employed 50,000 people in Germany and in Europe.
Mar 07, 2017 09:42 AM EST
Luxury automakers drive online sales on Tmall.com
China is projected to become the top market for luxury automakers by 2020 and brands rev up sales with Tmall.com to reach the country's affluent and digitally active consumers.
Mar 06, 2017 05:58 AM EST
Sports Direct owner buys into lingerie brand Agent Provocateur
Sports Direct owner Mike Ashley has acquired an interest in the struggling luxury lingerie retailer, Agent Provocateur.
Mar 06, 2017 01:24 AM EST
Jimmy Choo revenues skyrocket with strong Asia market, weak pound and menswear range
The record revenues and profitability are proof to the growing appeal and strength of Jimmy Choo.
Mar 03, 2017 09:42 AM EST
Snapchat share price soars on market debut
The firm's valuation of $30 billion is the biggest record for a US tech company since Facebook in 2012.
Mar 03, 2017 08:28 AM EST
Ford may cut more than 1000 jobs at Bridgend plant in worse case scenario
Unions are fighting to keep the jobs in Ford at all cost as a reduction in employment could lead to a serious economic crisis.
Mar 03, 2017 08:42 AM EST


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Finding the right founding clients can be crucial for a new business seeking to project the the right message.
Jules Hall started his interactive digital advertising agency, The Hallway, four weeks ago, with strong support from his two founding clients, Jameson Irish Whiskey and prominent Sydney entertainment group, Merivale, owner of The Establishment.
Hall approached these clients because he knew their size would make them flexible in decision making, while their target audience suited the focus of his new business.
"The best thing about these two brands is that they can be a little bit more experimental because there are not five agencies working on their business, they work with one agency," Hall says. "It would be very hard to go to Westpac and say you should completely revolutionise your agency model."
The Hallway is introducing a unique shift from traditional marketing, away from broadcast channels and towards digital interaction with consumers.
"What is particularly relevant is that both clients have Gen Y as their target audience and they have completely changed their media consumption habits," Hall says.
"If you look at the average urban 26 year-old, they are consuming multiple media channels and are sophisticated users of the web and mobiles. They have blogs, they are Skyping, they are well familiar with Facebook, and are keeping their photos on Flickr. ''They are really living the digital life," says 31-year-old Hall. "The challenge is to spin this back out to other media channels so they have got the opportunity to sample the products."
Although both his founding clients are in the drinks and entertainment industries, Hall is not worried this might pigeon-hole his business. "We are looking at any clients with opportunities among the Gen Y audience group. Any company within any industry whose audiences have a digital skew to them."
From the perspective of a potential founding client, there are both opportunities and extra considerations to be made, especially when the new business is challenging the traditional approach.


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Facebook has just made its Open Graph platform more open for business.
Facebook launched the platform last September and its 800 million members are already familiar with how they or their friends can instantly share songs they’re listening to on Spotify or news stories they’re reading through the Washington Post.
But Facebook is expanding the universe of available Timeline apps beyond music, news and video to include apps for sharing favorite restaurants, travel spots, movies, online deals and more.
At a press conference this afternoon in San Francisco, Facebook announced it had opened up the next stage of the Open Graph system to include 60 new third-party companies that have developed apps for Timeline, including eBay, Foodspotting, Rotten Tomatoes, StubHub, Airbnb, Gogobot and Pinterest.
If a Facebook member choses, each app shows up as a module on their Timeline that gives a summary of recent shared activities.
The Foodspotting app, for example, will display photos of dishes and food reviews the member has shared. Instead of just a “like” button, Foodspotting users can select “want it” or “nom it.”
The Timeline feature, recently rolled out to the general Facebook population, is designed as a way for members to express themselves online. The 60 new apps are supposed to be just the first wave of Timeline apps that will cover a gamut of activities that Facebook hopes will be shared.
“We always said you are more than just your status updates and photos,” said Facebook spokesman David Swain.
The Timeline apps could be a boon for businesses who want to reach the Facebook audience through shared activities.
“This is going to be the biggest catalyst for pushing social commerce,” said Payvment Inc. CEO and founder Christian Taylor. “This is really going to turbo charge product discovery on Facebook. It’s going to do for shopping what Spotify has done for music.”
Taylor’s Palo Alto company has an online shopping mall on Facebook and has already added “I Want This” and “I Own This” buttons.”
Those buttons take the power of the already familiar “Like” and “Share” buttons to a higher level, letting Facebook members share what they are doing in a more fine-tuned way.
For example, Payvment’s “want” and “own” buttons can be used to create a gift wish list that their friends can see.
“I can see what my wife wants for her birthday,” Taylor said.
Facebook got into hot water in 2007 with an advertising program called Beacon, which automatically broadcast on the social network what a person was buying online. The resulting firestorm of protests eventually caused Facebook to drop Beacon.
The new Open Graph system is opt-in, giving members control over what they share, although there is still criticism that many members may not realize just how much of their online habits they are broadcasting.


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Fincantieri Delivers Two Luxury Cruise Ships for Viking and Oceania
Fincantieri’s Italian shipyards delivered two new cruise ships last week, the first for the company in 2023, both of which are part of the smaller, luxury segments of the cruise industry. The deliveries come as the cruise industry is reporting a strong first quarter, growth in books, and a strong outlook for the summer pear summer season.
Norwegian Cruise Line Holdings, the parent of Oceania Cruises, which took delivery on its new ship the Vista on Friday, April 28, today also reported its first quarter results. It was the first of the cruise corporations to report with Royal Caribbean Group following on Thursday, May 4 with its financial update.
“1Q earnings results that beat expectations were encouraging, especially in light of 4Q’s miss and a disappointing guide at the time that severely spooked the market,” wrote analyst C. Patrick Scholes of Truist Securities in his first “quick thoughts” note after the report. “Additionally encouraging is the pace of occupancy ramp-up given company-specific concerns around this metric,” noted Scholes.
Occupancy for Norwegian’s three brands, Norwegian Cruise Line, Regent Sea Seas Cruises, and Oceania Cruises, improved to approximately 101.5 percent in the quarter, exceeding the company’s guidance of 100 percent. It compared with 86.6 percent occupancy in 4Q which disappointed investors and an analyst forecast of 99.8 percent occupancy for the first quarter. Norwegian further said, “The phased occupancy ramp-up is expected to be complete in the second quarter at approximately 105 percent,” with the company targeting 103.5 percent occupancy for the full year.
While the corporation continues to report losses, it beat estimates posting $1.8 billion in revenue. Gross cruise costs per capacity day, a measurement investors use to look at costs, were down around seven percent versus the second half of 2022. Investors were displeased with the company’s high costs in the year-end reports with an emphasis being placed on lower costs. Another key focus is onboard revenue, including the pre-purchases made by passengers before their cruise, which Norwegian reported was nearly 30 percent higher than in 2019, before the pandemic.
Vista was handed over on April 28 near Genoa (Oceania Cruises)
The delivery of Vista for Oceania is the first of three ships Fincantieri is delivering for Norwegian Cruise Line Holdings in 2023. Vista is 67,000 gross tons and 791 feet in length as the first of two new cruise ships in the company’s new Allura Class and the line’s first new build in a decade. The line is boasting that the ship has “the most spacious standard staterooms at sea,” with a total passenger capacity of 1,200 and 800 in crew, which also gives it one of the industry’s highest passenger-to-crew ratios.
"Today we usher in a new era for Oceania Cruises with the delivery of Vista," said Frank A. Del Rio, President of Oceania Cruises. "We could not have built such an exceptional ship without the close partnership enjoyed with Fincantieri. From the smallest of design details to the largest per capita galley at sea, Vista is a marvel that will be enjoyed by guests for decades to come."
Vista was delivered from the Fincantieri Fincantieri Sestri Ponente shipyard near Genoa, Italy, and will be christened on May 8, 2023, in Valletta, Malta. She will spend her summer season in the Mediterranean. After that, she will reposition to Canada and New England before heading south for a series of winter itineraries in the Caribbean, Mexico, and Central America. She will be joined in 2025 by a sister ship named Allura.
Luxurious interior spaces on the new Vista (Oceania Cruises)
Two days earlier, Fincantieri’s shipyard in Ancona, Italy delivered Viking Saturn, the tenth cruise ship built for Viking in the class that was launched in 2015. Viking’s strategy is to build identical ships each of which is 47,800 gross tons with accommodations for 930 passengers. Viking Saturn is the last of the original order of cruise ships placed by Viking, which was followed up with six additional ships that will deliver one per year between 2024 and 2027 and two in 2028. The next six ships will be upgraded and revisited with the latest technologies according to Fincantieri. Among the plans is to expand on trials with hydrogen fuel cells.
Viking Saturn began cruising with her naming ceremony scheduled for June 6, 2023, in New York. The ship will spend her inaugural summer sailing two new cruises between New York and Reykjavík, Iceland, and between Reykjavík and Bergen, Norway.
Viking Saturn is the latest in the class which began in 2015 built by Fincantieri (Fincantieri photo)
Since 2020, Viking has introduced 17 new ships to its fleet, including four ocean cruise ships from Fincantieri as well as two cruise ships built by Vard for expedition cruises. The river cruise operation has added eight Viking Longships as well as purpose-built vessels on the Mekong, Nile, and Mississippi rivers.
The delivery of Viking Saturn and Vista are part of six cruise ships scheduled for delivery by Fincantieri in 2023. Two others, Norwegian Viva and Seven Seas Grandeur, are also for Norwegian Cruise Lien Holdings’ brands. Fincantieri’s schedule projects five cruise ships per year in each of the three next years and five in 2027 and beyond for a current total order book of 20 additional cruise ships.


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Report: America has massive cheese surplus
The moon may not be made out of cheese, but there is enough surplus cheese in America to put together a cheese wheel the size of the U.S. Capitol building.
Boston’s WBUR reports that roughly 1.4 billion pounds of cheese is currently in cold storage across the country.
That’s the largest surplus the nation has ever had since officials began keeping records a century ago.
Cornell Agricultural Economics Professor Andrew Novakovic said there are a number of reasons for the surplus.
Dairy farms are producing a lot of milk, and the domestic use of that milk is changing.
Some worry that President Trump’s trade war with China, as well as Mexico’s tariffs on U.S. dairy exports, could make the problem worse.


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Less than half of marketers track metrics that shed light on lead quality of websites, finds study
Corporate websites are valuable sources for business-to-business (B2B) lead gen marketers, said an eMarketer report.
The IT market tracker cited research from Demandbase, in conjunction with Focus Research, that the corporate website was a top source of leads for B2B marketers, second only to personal connections and referrals.
Though websites are a positive lead source, marketers expect more: 84% of US B2B marketers felt their ability to generate new sales leads using their website needed moderate to strong improvement, said eMarketer.
Other top areas of improvement for company websites included tracking and reporting on unregistered and anonymous users.
Importantly, the company said that the most important benchmark for gauging overall website effectiveness is quality — not quantity. Unfortunately, less than half of marketers tracked metrics that shed light on lead quality, said eMarketer. Only 20% tracked user companies, and 49% tracked post-registration user activity, said the study.
Free content in the form of white papers, collateral and enewsletters — in exchange for user registration — is one way to boost lead count, said eMarketer.


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Central Ohio Inc.: Retail jobs sink amid store, consumer shifts
- Staff Columbus Business First
Employment in Central Ohio’s vibrant retail scene has dwindled nearly 18 percent since 2001, the effect of two recessions on a segment that experts once warned operated more stores than the region could handle.
The decline in the area’s retail employment was steeper than the drop statewide, and the fall was concentrated in Franklin County, where the store work force plummeted nearly 29 percent between 2001 and last year, according to data from the federal government. Those statistics focus on retail jobs ranging from car salesmen to restaurant wait staff.
Besides the effects of the battered economy on sales, the retail sector changed because once-big-spending baby boomers are moving to frugal retirement age. Also, online shopping continues to gain traction with consumers, meaning reduced staff at stores, and direct delivery of goods to consumers’ homes has trimmed demand for product storage at stores, says an analysis of retail trends in Franklin County done this year for county government.
According to that report, the drop in retail employment was steep because the area adjusted from trying to support many stores. The retail sector accounted for 13.3 percent of county employment in 2001, while the national share was 11.7 percent. Retail jobs sank to 10.4 percent of county employment by 2010, below the national level of 11.3 percent, reflecting a shrinking pool of merchants, the report found.
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Cannabis retail licensing in New York has been temporarily halted as ordered by Judge Kevin Bryant.
The New York State Cannabis Control Board (CCB) and New York’s Office of Cannabis Management (OCM) have had a case brought against them by four service-disabled military veterans.
The veterans claim the authority has wrongly prevented them from being granted cannabis retail licenses despite service-disabled military veterans being classed as a subset of eligible social equity candidates.
Under state law, in order to be eligible, the veterans would also have also had to have had a cannabis-related conviction before 31 March, 2021.
The temporary halt to New York’s Conditional Adult-Use Retail Dispensary (CAURD) scheme has been put in place until the case can be heard in the Supreme Court, and until another, similar case filed by the Coalition for Access to Regulated and Safe Cannabis (CARSC) is completed, which is calling for the OCM to open up licensing to all.
Judge Kevin Bryant has said that the OCM will no longer be able to issue licenses until the court gives further orders.
Speaking to Spectrum Local News, Legal analyst Matt Morey, commented: “If the creation of the entire CAURD programme is deemed to be unconstitutional, then that would then raise the question as to whether or not previously issued licenses are in fact invalid at this point under the programme, and that remains to be seen.”


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The Guyana Oil Company Ltd (Guyoil) has announced a reduction in prices for Gasoline, Gasoil (LSD) and Kerosene with effect from March 9, 2018.
Gasoline has been reduced by $2.00 per litre, Gasoil (LSD) has been reduced by $10.00 per litre and Kerosene $4.00 per litre.
According to Guyoil in a release, these price reductions were possible due to declining acquisition costs.
Guyoil in its release said it is always cognisant of its role in the Guyana economy, which it said is ensuring that quality petroleum products are provided at excellent prices.
“Our vast network of Dealer Service Stations will continue to ensure that our quality products are made available to you our valued customers along the entire coastland to all the way in Lethem” said the company.


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Kolkata, India (PressExposure) October 16, 2014 -- After a quarter of officially announcing that it would no longer be accepting Blackberry projects, Teknowledge is still holding a strong presence in Blackberry App World. In particular, the Blackberry versions of mobile apps for kids are doing remarkably well in terms of downloads.
Speaking on behalf of the globally renowned mobile app company, a senior official highlighted Story Time For Kids - a mobile storytelling app - to be the one that is performing the best on the Blackberry platform. Digital storybooks like 'Androcles And The Lion', Around The World In 80 Days', 'Alice In Wonderland' and 'The Frog Prince' have registered impressive download figures in the last quarter. Story Time has already brought several international awards to Teknowledge - and it is certainly retaining its charm for Blackberry users.
According to an ongoing research by Distimo, few of the French storybooks for this free app for kids are doing well too. The Arabic Writing app, optimized for Blackberry Playbook, was downloaded a few times in the last three months. With the iOS and Android versions (specially the former) of Story Time going great guns, the way in which the Blackberry version has also sustained speaks volumes about the efficiency and creativity of the mobile app developers at Teknowledge.
Story Time is not the only Teknowledge app that is holding on strong at the Blackberry App World. Other educational apps for kids, like 'Book Of Manners' and 'Candle Craft For Kids & Mom' are still generating enough interest among parents and children alike. The best response is coming in from users in United States and Canada, with UK not lagging far behind. These Blackberry apps do not have too many takers in Asia, however.
Among the other mobile apps created by Teks that remain in demand among Blackberry-users, 'My First Words' and 'I Can Write' (in all languages) warrant special mentions. Data from the last 4-6 weeks suggest that these two apps figure among the most downloaded kids' applications from the BB platform during this period. This result gets even more sheen when it is considered that Teks had withdrawn all support for its Blackberry apps well over three months back (citing poor response/sale figures). It has been a turnaround, and how!
The mobile app development company has a successful track record in making business-related apps, like 'My Budget Tracker' and 'Melhor Oferta'. The first among these has sustained among the top performers in the App World. Over the last few weeks, the average ranking of the app has hovered among the top-200, with the total number of downloads reaching a peak during the third week of September. The CEO of Teks feels that strong word-of-mouth publicity has been key for maintaining the popularity of these Blackberry apps.
It had been a masterstroke on the part of the in-house mobile app developers to optimize nearly all of its apps for Blackberry Playbook and Blackberry 10. Although BB 10 has not been a hit thus far, the recent launch of Blackberry Passport opens up the chances of apps optimized for it to get a major boost. A couple of other applications from the Teks portfolio are also holding well on the Blackberry platform.
Although buoyed by this welcome piece of news, app development experts at Teknowledge Mobile Studio have ruled out an immediate return to new Blackberry projects. A company representative pointed out that the main priorities of the company at this point in time were consolidating its position as the top iPhone app development company in Asia, and stabilizing its Australian chapter - Teks Mobile Australia. The popularity levels of the new Blackberry 10.3 platform would be observed closely for the next few months, and if the platform shows definite signs of recovery, Teks might start developing BB apps once again.
Mobile apps by Teknowledge regularly get featured on iTunes and Google Play Store. Hence, it is not really surprising that the Blackberry versions of these applications are continuing to do well. It remains to be seen whether the company resumes working on this platform or not.


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LaLiga Tech has aided sports properties to safeguard over $9.2 billion in content and build more beneficial and direct links with their fans, demonstrating technology's potential to improve the business.
Beginning October, Hormel’s internal segments will consist of Retail, Foodservice, International, and Brand Fuel.
Macau has seen its casino industry sales shrink by a whopping 95 percent following China’s rigorous zero-COVID-19 policy, setting an all-time low record ever since statistics were made available in 2009.
Ukrainian IT workers continue working remotely, making use of their strength as IT professionals who can work anywhere with internet access.
Samsung wants to provide clients with a variety of services through these NFTs, including rewards like offline discounts at partner retailers.
Domino's and a partner sub-franchise operated less than 30 locations collectively, and all of them discontinued service in July.
SpaceX greenlighted to provide Starlink internet service to airplanes, ships
SpaceX has been granted permission to extend its satellite-based internet service to mobile vehicles, including ships, RVs, planes, cars, and other similar vehicles. The approval came from the US government.
As per CNN Business, the consent gives SpaceX the opportunity to expand its customer base for its Starlink internet service. Prior to the green light, the service was only offered to homes, mostly in remote areas where the traditional internet service is not available.
Now SpaceX is likely to launch a new internet service to other fields and may start with commercial airlines. It was reported that its first client could be Hawaiian Airlines since it had already signed a deal with the company back in April. The agreement involves providing complimentary Starlink internet to some of the air carrier's jets.
The U.S. Federal Communications Commission confirmed last week that it had granted Elon Musk's spacecraft manufacturer and satellite communications company the permission to branch out its service to different types of vehicles. This development also opens wider business opportunities where SpaceX could secure new corporate deals.
The price range for Starlink's new mobile services was not mentioned in the report, but SpaceX may have already revealed this directly to businesses when it was marketing its service. On its own website, the company also posted something about the cost.
"With more than double the antenna capability of Starlink, Starlink Business delivers faster internet speeds and higher throughput," the company stated. "$500/mo with a one-time hardware cost of $2,500."
For the RV internet service, SpaceX actually started offering this service earlier this year, and subscribers are billed $135 per month. At that time, there was no approval from the FCC, yet so the service only works for RVs that are stationary. With the newly-issued permit, the internet will now be available even when the vehicle is on the move.
In any case, while the Starlink internet will now be on trucks, aircraft, ships, and other vehicles, Musk said that it would not be available for Tesla cars. In a tweet, the Tesla and SpaceX CEO wrote, "Not connecting Tesla cars to Starlink, as our terminal is much too big. This is for aircraft, ships, large trucks & RVs."


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At the standing-room-only opening keynote at Intersolar 2015, all the talk was on the future of solar and how energy storage was helping to pave the way for greater adoption of it. Dr. Eicke R. Weber, the director of the Fraunhofer Institute for Solar Energy Systems (ISE) opened the show outlining the great progress that solar has made in the past two years by stabilizing supply and demand. “Therefore in 2016, 17, 18 you will see production capacity and the market catch up, which means we should not expect further falling prices for PV modules,” he said, adding “You can expect stable prices and maybe even some modest increases.”
Next up was Tesla Co-Founder and Chief Technical Officer JB Straubel who offered a vision for the future of energy storage and PV. Straubel believes that the energy storage industry is “right at the precipice” of massive cost declines like PV experienced. “The next decade is going to look very different because all of the demand [for energy storage technology] coming from stationary energy storage and from electric vehicles — from many different companies not just Tesla — will change the demand curve and slope in a huge way,” he said. “It’s kind of like the difference between solar used for pocket calculators and satellites VS solar used for buildings. The demand is orders of magnitude higher and puts it on a different trajectory for cost declines.”
To put it in numbers, Straubel believes that the demand for batteries coming from just his company will be something like 35GWh of energy storage by 2020. “That is more lithium-ion capacity than existed in the entire world in 2013.”
Tesla will be demanding some of this battery technology for its Powerpack, a utility-scale battery that the company has recently unveiled. The Powerpack is about 10 times bigger than the Powerwall, which is designed for behind-the-meter residential applications. It is a 100kWh “building block” that is designed to be scaled up into an array. The Powerpack has a 10-year lifetime. Straubel showed the audience a conceptual drawing of a theoretical 100MWh/25MW power plant. “There is a clear and present value for transmission and distribution support,” he said.
Straubel closed with some very aggressive predictions that seem more like a wish list than what may actually take place. “In our view battery costs are going to decline much faster than most people expect.” He believes that in less than 10 years nearly all cars will be electric. Also he said bulk storage with batteries will grow faster than predicted. “Our view is that batteries are really going to win” over other energy storage technologies like pumped hydro, compressed air energy storage, even flow batteries, he said. “We are seeing price declines that make a lot of those technologies somewhat stranded,” he added.
“So if we can have solar generation at $0.02-0.03 per kWh and if you can have a levelized cost of a battery that may fall below $0.10 per kWh you suddenly get to have energy that is 100 percent firm and buffered from photovoltaics that is cheaper than fossil energy,” he said. That goal is in “grasping distance” according to Straubel.
But What About Standards?
Bob Galyen, the Chairman of the SAE International Battery Standards Steering Committee inquired about standardization. “North America has done a deplorable job when it comes to standardization,” he said. “In my presentation on Wednesday I’ll show you 8 different modules and not one of them is made out of the same cell,” he added, asking Straubel directly what Tesla plans to do about helping to get standards in place.
“I’m a bit of a pessimist on how hard it will be to standardize the battery module in every pack,” said Straubel. He said Tesla didn’t want to wait for standardization before it went to market with its products. “I much prefer building products and making things work than sitting on standards committees and trying to get everyone to agree,” he said. But he does agree that standards “would be very powerful” if they could be developed.
RenewableEnergyWorld.com will be exploring the energy storage industry, economics and policy and much more at Intersolar 2015. Stay tuned for more on these important topics.


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KOCHI: Startups in Kerala should stay connected and reach out to the core startup hubs in other parts of the country until the startup ecosystem in the State becomes self-sufficient, said Kalaari Capital Advisors Pvt Ltd partner Sumit Jain.
According to Sumit, startups in Kerala have been trying to find solutions to very relevant problems, and working in cutting edge areas like Artificial Intelligence and Internet of Things (IoT).
Last year, Kerala-based startup Fin Robotics raised US$3 million from Kalaari Capital, which is an early-stage technology-focused venture capital firm, to launch its blue-tooth ring ‘Neyya.’
In an exclusive interaction with ‘Express,’ Sumit rates the quality of Kerala startup teams and their expertise as ‘more favourable’ compared to startups in other parts of the country. Excerpts from the interaction:
Q: Which are the sectors where Kerala startups can excel?
A: Owing to certain unique elements of the ecosystem here, such as Startups Village that is dedicated to the area of electronics and IOT, Kerala startups can excel in hardware, IOT and IP-related fields, as opposed to mass market business model innovation ideas which were initially better-tested in metro hubs in the country. Having said that, Kerala with its high degree of urbanisation can also be a strong test bed for mass market ideas.
Q: Not many startups in Kerala get funds. what can be done to attract more funds?
A: Currently, Kerala does not have such support ecosystems as in Bengaluru Mumbai and Delhi or even centres like Pune, Hyderabad and Chennai. The onus, therefore, lies with the startups to stay connected and reach out to the core startup hubs in the country until the ecosystem in Kerala becomes self-sufficient and vibrant with enough capital providers, advisers and mentors. In the long term, large technology players establishing presence in the State would be a major boost to the startup ecosystem here. But, until then, the startups will have to make extra efforts to stay in sync with the existing hubs.
Q: What are the major challenges faced by startups in India?
A: I would count availability of sufficient seed capital, high-quality engineering/product resources at affordable salaries and access to experienced and relevant mentors as the key challenges for Indian startups.


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The battle for Asda Property intensified yesterday after the retail warehousing and central London offices specialist received a hostile bid from a joint venture between its chairman, Manny Davidson, and rival property group British Land.
Asda Property's independent directors are due to meet their advisers today to discuss the offer from the BL Davidson venture and revealed a number of "additional approaches" are also being considered. They urged shareholders to "take no action at this stage".
BL Davidson said its 300p-a-share offer, which values Asda Property at £232m, has the support of 51 per cent of shareholders, including the Davidson family who own nearly 30 per cent.
Asda Property shares closed up 28p at 304.5p yesterday.
Cyril Metliss, a director of British Land, said: "It is a full and fair offer. BL is offering 298.6p in cash per Asda Property share plus the right to the 1.4p a share interim dividend. The offer was pitched at a 30 per cent premium to Asda Property's closing price the day before BL Davidson revealed its takeover plans and a 0.9 per cent discount to its net asset value of 302.8p a share.
Last month Asda Property's board rejected an indicative offer of 278.6p from BL Davidson.


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11:12 | 23/04/2020 Companies
(VEN) - Vietnam-based e-commerce enabler OnPoint closed over US$8 million in Series A funding round to accelerate its revenue growth and to develop innovative e-commerce solution for its roster of blue chip clients.
Leading this Series A consortium round is Kiwoom Investment and DAIWA-SSIAM Vietnam Growth Fund II L.P. This marks one of the largest Series A rounds in Vietnam in recent months amidst the ongoing global Covid-19 pandemic.
The new funding, which brings the total fund raised by OnPoint to date to an 8-digit number, will enable the company to invest in strategic technology developments, recruit new talents, and develop data-driven capabilities to provide better services to its clients.
Founded in December 2017, OnPoint is the market leader in the Vietnam market for e-commerce enablers. The company provides one-stop solutions that enable consumer brands in turbo-charging their online sales and online presences on e-commerce platforms, social channels or via brand-owned websites. The company accomplishes this via two distinctive but intertwining business offerings: Distribution services - OnPoint directly manages brands’ A-to-Z online store functions (including product listing, pricing, customer services, order fulfillment, etc.); E-commerce solution services - OnPoint helps brands formulate, manage, execute and measure strategic online marketing campaigns and commercial management capabilities.
“We realized that the e-commerce landscape in Vietnam is evolving extremely fast, and almost on a daily basis. As such, our mission is to empower consumer brands in not just navigating, but also growing and thriving in this ever-changing ecosystem. We see ourselves not just as an extending-arm in online demand creation and demand fulfillment, but also a strategic partner for brands who helps facilitate their multitude interactions with online netizens,” said OnPoint co-founder and CEO Tran Vu Quang.
“We want OnPoint to become the No.1 e-commerce enabler in Southeast Asia, provide the cutting-edge solutions that help brands to capture growth opportunities at the right time and in a sustainable way,” Quang added.
The team behind OnPoint’s success is a group of highly-caliber founders and managers, with a unique combination of top-class experience in retail, e-commerce, brands and management consulting. Two of the founders Tran Vu Quang and Le Xuan Long, are both former C-level executives at Lazada Vietnam and ex-McKinsey consultants. Joining with them at the board of OnPoint are industry veterans with decades of top-management experience at global FMCG firms. The executive management team of OnPoint comprise of talents who previously held key positions at top e-commerce firms like Lazada, Shopee, Tiki and Lotte.
“E-commerce is the new reality of Vietnam’s retailing industry and is expected to maintain its exponential growth in the near future. By deploying deep e-commerce expertise, and leveraging high-tech solution, OnPoint is in best position to help consumer brands re-orient their online strategy and reach new height in their e-commerce journeys,” commented Chris (Seoktae) Kim, Senior Investment Manager from Kiwoom Investment.
In 2019, OnPoint served more than 50 brands. The company is on track to expand its client portfolio to 100+ brands while accelerating revenue growth in 2020. The successful fundraising right will help OnPoint solidify its market leading position and invest in technology to expand e-commerce demand creation and demand fulfillment solutions to better serve its clients.


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New York, Dec. 19, 2023 (GLOBE NEWSWIRE) —
Market Overview and Report Coverage
The IoT market research reports analyze the current market conditions and provide insights into key trends and drivers impacting the industry. The reports highlight the growing demand for interconnected devices and the increasing adoption of IoT technology across various sectors. The market size is driven by factors such as the proliferation of smartphones, advancements in wireless communication, and increasing investments in IoT infrastructure. Companies operating in this market can leverage these reports to understand market dynamics and make informed strategic decisions.
The objective of report is to define, segment, and project the market on the basis of product type, application, and region, and to describe the content about the factors influencing market dynamics, policy, economic, technology and market entry etc.
Internet of Things (IoT) refers to the network of interconnected devices that are embedded with sensors, software, and connectivity capabilities to collect and exchange data. The IoT market can be segmented based on type into Perception Technology, Network Technology, and Application Technology. The application segment includes Artificial Intelligence, Connectivity, Networking, Sensing/Sensors, Databases, and Others. Furthermore, the market can be divided by region as North America, Asia Pacific, Middle East, Africa, Australia, and Europe. Key market players in the IoT industry include Amazon Web Services, Autodesk SeeControl, BlackBerry, Bosch Software Innovations, Bright Wolf, C3 IoT, Carriots, Concirrus, Connio, Cumulocity, Davra Networks, Device Insight, EVRYTHNG, Exosite, and GE.
In terms of regulatory and legal factors specific to market conditions, IoT faces challenges in areas such as privacy, security, and data protection. Governments and regulatory bodies are imposing stricter regulations to safeguard consumer data and protect against cyber threats. For example, the European Union implemented the General Data Protection Regulation (GDPR) to ensure the protection of personal data. Additionally, there are specific regulations for IoT devices related to cybersecurity, product safety, and interoperability. Compliance with these regulations is crucial for market players to maintain trust and meet legal requirements. The evolving nature of IoT technology poses challenges for regulatory frameworks, and market players need to stay informed and adapt to changing legal landscapes.
IoT Market Trends and Market Analysis
The Internet of Things (IoT) refers to the interconnected network of devices, objects, and systems embedded with sensors, software, and connectivity, enabling them to collect and exchange data. IoT facilitates seamless communication between devices, leading to increased automation, efficiency, and data-driven decision-making.
IoT Market Assessment:
The target market for IoT is expansive, spanning industries such as manufacturing, healthcare, agriculture, smart cities, and consumer electronics. Its future outlook is highly promising, with an increasing number of connected devices, advancements in IoT technologies, and the integration of artificial intelligence shaping the landscape.
Companies Operating in the IoT Market:
Amazon Web Services (AWS): Offers cloud-based IoT solutions, providing scalable infrastructure for device management and data analytics.
Autodesk SeeControl: Specializes in IoT platform solutions, enabling businesses to connect, analyze, and manage IoT data for enhanced operational efficiency.
BlackBerry: Focuses on IoT security solutions, ensuring the protection of connected devices and networks from cyber threats.
Bosch Software Innovations: Provides IoT software and services, facilitating the development of IoT applications for various industries.
Bright Wolf: Offers IoT consulting and development services, assisting businesses in designing and implementing robust IoT solutions.
Latest Trends in the IoT Market and Major Challenges:
Recent trends in the IoT market include the proliferation of edge computing, the convergence of IoT with artificial intelligence, and the rise of 5G networks enhancing connectivity. However, challenges include concerns over data privacy and security, interoperability issues among diverse IoT devices, and the need for standardized protocols to ensure seamless communication. Despite challenges, IoT’s trajectory is upward, with continuous innovations driving its evolution and expanding its application across industries.
Top Featured Companies Dominating the Global IoT Market
The IoT market is highly competitive with various companies competing to provide innovative IoT solutions. Here is a competitive landscape and an overview of some key players in the IoT market:
– Amazon Web Services (AWS): AWS offers a range of IoT services including IoT Analytics, IoT Core, and IoT Device Management. These services enable businesses to securely connect, manage, and analyze IoT devices at scale. AWS has been actively investing in IoT and is leveraging its extensive cloud infrastructure to capture a significant share of the market.
– Autodesk SeeControl: Autodesk offers a cloud-based IoT platform called SeeControl. This platform helps businesses monitor, analyze, and control their connected devices. Autodesk’s strong capabilities in computer-aided design (CAD) and software development enable them to provide comprehensive IoT solutions, especially in industrial settings.
– BlackBerry: BlackBerry offers an enterprise-grade IoT platform called BlackBerry IoT Solutions. This platform enables businesses to securely connect and manage their IoT devices, while also providing advanced analytics and automation capabilities. BlackBerry’s long-standing expertise in security and enterprise mobility positions them as a trusted player in the IoT market.
– Bosch Software Innovations: Bosch offers a comprehensive IoT suite, including a middleware platform called Bosch IoT Suite and various industry-specific solutions. Their software and hardware expertise, combined with strong partnerships, enable them to deliver end-to-end IoT solutions across various sectors, such as manufacturing, automotive, and energy.
– C3 IoT: C3 IoT provides a platform that enables businesses to develop and deploy AI-powered IoT applications. Their platform leverages advanced analytics and machine learning to drive real-time insights and predictive capabilities. C3 IoT’s focus on AI and machine learning differentiates them in the market, allowing businesses to harness the full potential of their IoT data. C3 IoT raised $100 million in its Series E funding round in 2018, indicating strong market demand for their AI-powered IoT solutions.
– GE reported $5.3 billion in digital revenues for its Industrial Internet of Things (IIoT) segment in 2018, highlighting the success of their IoT initiatives.
– AWS, a subsidiary of Amazon, reported $9.95 billion in net sales for its “Other” category in Q4 2019, which largely includes its IoT services.
In terms of Product Type, the IoT market is segmented into:
- Perception Technology
- Network Technology
- Application Technology
1. Perception Technology: This type of IoT technology involves the use of various sensors and devices that collect and perceive data from the physical environment. These sensors can be embedded in objects, such as vehicles, buildings, or even human bodies. They gather information like temperature, humidity, pressure, motion, and more. Perception technology plays a crucial role in capturing real-time data and providing insights into the physical world.
2. Network Technology: Network technology enables the seamless communication and connectivity between different IoT devices. It includes protocols and technologies like Wi-Fi, Bluetooth, Zigbee, LTE, and more. These technologies establish a network of interconnected devices, allowing them to exchange data and collaborate with each other. Network technology ensures that the IoT ecosystem remains connected and data can be transmitted efficiently.
3. Application Technology: Application technology involves the software and applications that enable the processing, analysis, and utilization of the data collected from IoT devices. This technology allows for intelligent decision-making, automation, and control in various domains such as healthcare, manufacturing, transportation, and agriculture. Application technology enables the development of applications that leverage the data generated by IoT devices to enhance productivity, efficiency, and user experience.
In terms of Product Application, the IoT market is segmented into:
- Artificial Intelligence
The application of IoT is vast and encompasses various technologies including artificial intelligence (AI), connectivity, networking, sensing/sensors, databases, and others. IoT leverages AI to analyze and make sense of the enormous amount of data collected from connected devices. Connectivity enables these devices to communicate with each other and with the central system, while networking allows multiple devices to interact and share data. Sensing and sensors play a crucial role in IoT by collecting data from the physical world. Databases store and manage the vast amount of information generated by IoT devices, ensuring its availability and accessibility. Other technologies such as cloud computing and edge computing are also significant components of IoT ecosystems.
IoT is utilized in various applications, such as smart homes that automate and control devices, smart cities that optimize resource allocation and improve citizens’ quality of life, industrial automation that enhances production efficiency and safety, and healthcare systems that enable remote patient monitoring and personalized treatments. It is also utilized in agriculture, logistics, energy management, and transportation, among others, to improve processes, optimize resources, and enhance decision-making.
IoT Market Regional Synopsis
The IoT market is expected to witness significant growth globally, but certain regions are expected to dominate the market in terms of market share. According to various reports and studies, the following regions are anticipated to play a significant role in the IoT market:
1. North America:
North America is expected to be one of the leading regions in terms of IoT market dominance. The United States, in particular, has a technologically advanced ecosystem and is a hub for IoT innovation. The growth is driven by the increased adoption of connected devices, advancements in cloud computing, and government initiatives supporting digital transformation. The market share of North America in the IoT market is estimated to be around 40%.
Europe is another region that is expected to have a significant market share in the IoT market. Countries like Germany, France, and the United Kingdom are driving the growth in this region. Factors such as favorable government regulations, increased investments in IoT technologies, and the presence of prominent IoT solution providers contribute to the market dominance. The market share of Europe in the IoT market is estimated to be around 30%.
3. Asia Pacific:
The Asia Pacific region is witnessing rapid growth in the IoT market and is expected to have a substantial market share. Countries like China, Japan, and South Korea are leading in terms of IoT adoption and implementation. The increasing population, rising urbanization, and technological advancements in sectors such as manufacturing, healthcare, and transportation contribute to the growth in this region. The market share of Asia Pacific in the IoT market is estimated to be around 20%.
4. Rest of the World:
The rest of the world, including regions like Latin America, Middle East, and Africa, is also expected to contribute to the IoT market growth. These regions may have a relatively smaller market share compared to North America, Europe, and Asia Pacific.
Reasons to Purchase theIoT Market Research Report:
- Comprehensive Market Analysis: Understand the IoT market’s trends, challenges, and opportunities.
- Accurate Market Size and Projections: Access precise data for strategic decision-making and resource allocation.
- Competitive Landscape Insight: Identify key players, market share, and strategic positioning.
- Technology Trends Exploration: Stay abreast of the latest advancements in IoT technologies.
- Industry-Specific Insights: Explore diverse applications across industries for strategic planning.
- Regulatory Landscape Awareness: Stay informed about regulations impacting the IoT market.
- Investment Opportunity Identification: Discover potential areas for investment and growth.


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Her home wrapped in 10 feet of mud and her husband’s car smashed against the house, Jamestown resident Juliette Leon Bartsch clearly has a lot on her plate.
On Sunday, she tried to clear up one minor item: overage charges from AT&T.
Bartsch has received hundreds of text messages since evacuating her home early Thursday. Most of the messages have come from family and friends. But others were from AT&T, telling her she had exceeded her limit and would face additional fees per text.
So while she was waiting for a food order on the 29th Street Mall in Boulder, she walked into the AT&T store next door hoping to clear up the matter. What happened next shocked her.
“It’s kind of low on the priority list of things that have gone wrong for sure,” Bartsch said Tuesday. “But I am definitely stunned that they would be so completely unhelpful.”
After waiting for 30 minutes, she explained her situation to an AT&T store employee.
“They finally said, ‘Let me see your phone,’ to kind of prove it,” Bartsch said. “Instead of erasing the charges, they offered me a plan that costs more money per month to cover it. They were upselling in the middle of trauma.”
After The Denver Post contacted AT&T about Bartsch’s situation, the carrier said Tuesday it has “resolved” the issue.
“As is our routine in an emergency, we began suspending collections calls to impacted customers last Friday, and we will not be billing those customers for flood-related overages to their wireless-minute or text-message plans,” a company spokeswoman said in a statement. “AT&T has reached out to our customers to clear the flood overage charges, and we apologize for the oversight and inconvenience.”
The nation’s No. 2 carrier added that it “will work with customers who have experienced a similar situation by reviewing past usage and adjusting as appropriate.”
Experiences such as Bartsch’s aren’t unusual in the with disasters. DirecTV was criticized for charging victims of the Black Forest and Waldo Canyon fires for destroyed equipment. The company later apologized.
Bartsch and her husband haven’t returned to their home since Thursday and question whether they’ll be able to live in it again.
“We live right next to the mudslide that came down and buried our neighbor,” Bartsch said.
A silver lining could be that her husband’s car may have saved their belongings.
“My husband’s car being smashed against the front saved all the mud and water from coming into the house, so eventually we’ll be able to get our special things,” she said.
Andy Vuong : 303-954-1209, email@example.com or twitter.com/andyvuong


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Ticket Office Begins Initial Shipping of Season Tickets
BATON ROUGE — The first of 63,017 LSU football season tickets were sent out on Tuesday according to Ticket Office Manager Brian Broussard. For the second consecutive season, the tickets are being shipped in special envelopes provided by UPS and are not mailed in any particular order.
Broussard stressed that all tickets will not be mailed for several days, and some fans may not receive these from UPS for at least a week.
A majority of away-game tickets have been sent out by the U.S. Postal Service and should be received in the next week. Auburn game tickets have not been sent out.
A record number of season tickets — at least 62,945 — were purchased this season, not including more than 15,000 that are reserved for LSU full-time students.
In addition to the season ticket mail-out, the ticket office will open at 9 a.m. on Saturday, Aug. 17, for sale of individual-game tickets (limit of eight tickets per person for South Carolina, Alabama and Ole Miss) and away-game tickets (except Virginia Tech and Auburn). Call the ticket office at 225.578.2184 (or 1.800.960.8587 if out of town) to purchase these over the phone.
Those LSU full-time students who purchased season football tickets online over the summer may begin picking up their tickets between Aug. 19-30. Students are reminded that they must present a new LSU student ID card issued for the Fall 2002 semester when picking up student tickets.
A limited number of student-guest tickets will also be available beginning on Aug. 19.


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John Reed, FT.com, 12th January, 2009
BMW on Monday lambasted the state aid offered to carmakers in the US and Europe, saying that it ‘distorted competition” in the industry and that it should be offered to more companies. The warning by the world’s largest luxury carmaker comes as Canada, Sweden, Germany and other countries follow the US in bailing out carmakers and while the UK Government considers aid measures.
General Motors and Chrysler are receiving $17.4bn of emergency federal aid, in addition to $25bn in low-interest loans for carmakers’ investments in greener vehicle technology. ‘If funds are made available to American domestic manufacturers, the same programmes should be made available to other manufacturers in the US,” Ian Robertson, BMW’s Head of Sales and Marketing, told the Financial Times. ‘Otherwise you distort competition, and that’s not reasonable.”
Mr Robertson also criticised the notion of one-off Government loans being offered to carmakers such as Jaguar/Land Rover. ‘If there are offers on the table, they should be offered to everyone. If the Government wants to support Jaguar/Land Rover, they should support everyone,” Mr Robertson said.
‘That is part of the level playing field.” The British Government is considering a request for emergency loans and other financial aid made by the industry through the Society of Motor Manufacturers and Traders industry lobby group to keep their carmaking, dealership, and retail finance operations afloat.
However, carmakers including GM and India’s Tata Motors, owner of Jaguar/Land Rover, have also approached the Government individually about loans or guarantees. Mr Robertson said that BMW employed more people in the UK at its plants in Swindon, Goodwood and Oxford than did Jaguar/ Land Rover.
A second industry executive said on Monday that growing state handouts to carmakers could lead to ‘warfare” and competition among countries. ‘If the French government had given $25bn to Renault and Peugeot, everybody would have been outraged, but this was America,” said Shai Agassi, Chief Executive of Better Place, a Palo Alto, California-based company building infrastructure for electric cars. ‘Once America does it, everyone has to do it.”
GM is also discussing the possibility of €1bn-€2bn ($1.35bn-$2.7bn) of guarantees from the German government for its Opel subsidiary, and ‘up to $1bn” from Sweden’s Skr20bn ($2.5bn) fund for car and truckmakers, according to Carl-Peter Forster, head of GM Europe.
However, Mr Forster denied that GM was seeking special treatment. He said the company was seeking Government guarantees to access €16bn of European Investment Bank aid for carmakers, which he said was limited to companies with investment-grade credit ratings. ‘The German and Swedish money is mostly a guarantee to put us on a level playing field,” he said.
- Press Report : Jaguar Land Rover pay-freeze vote next week - 27 February 2009
- Press Report : Czech army to buy Land Rovers for foreign missions - 27 February 2009
- China Watch : SAIC aims to sell 60,000 Roewe, MG cars in '09 - 27 February 2009


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Monsanto Co. is offering farmers in Brazil a 16 percent discount on its newest brand of genetically modified soybeans if they drop their claims that patents on older soybeans expired in 2010.
Monsanto's Intacta soy beans went on sale in Brazil for 115 reais (or $51.23) per hectacre, but farmers who agree to release the company from patent claims will pay 96.50 reais for the next four years, Bloomberg reports.
The Mato Grosso State Growers Federation, which represents the Brazilian farmers, said they agreed to drop the patent claims.
Growers had argued that Monsanto's patent on its Roundup Ready soybeans expired in 2012 and the company should repay any royalties collected since then. Monsanto claims Brazilian law extends the patent to late 2014.


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Retail CFD firms face potential EU market-wide restrictions and further criticism from the FCA
The European Securities and Markets Authority (ESMA) has announced it is considering imposing restrictions on contracts for difference (CFD) trading that would mean seismic changes for the industry, whilst the FCA has announced its serious concerns about the CFD industry's continued failure to meet expectations regarding the treatment of retail clients.
At the end of June, ESMA announced that it will consider using its intervention powers under Article 40 MiFIR to address investor protection risks in the CFD sector. These powers allow ESMA to impose leverage limits, guaranteed limits on client loss, and/or restrictions on the marketing and distribution of CFDs for retail investors. However, any restrictions require prior approval by the ESMA Board of Supervisors and could only be implemented after 3 January 2018 (when MiFIR comes into effect).
Following this announcement, the FCA has confirmed that it will hold off on implementing changes to conduct rules for CFD firms, which it had originally proposed in December 2016 (CP16/40). However, the FCA clarified that if ESMA's decision is delayed, the FCA intends to implement its own conduct rules for UK CFD firms in the first half of 2018.
In addition, the FCA also announced the results of its review into the appropriateness assessments conducted by CFD firms when on-boarding retail clients, which followed its Dear CEO letter of February 2016. The FCA identified five key areas of concern:
inadequate assessments of prospective clients' knowledge of CFDs;
insufficient consideration of prospective clients' previous transactional experience;
inadequate risk warnings to prospective clients who fail appropriateness assessments;
failure to evaluate whether failed applicants should be allowed to make CFD transactions in any event; and
poor oversight, weak controls and inadequate management information in CFD firms.
These concerns echo the FCA's 2016 Dear CEO letter, demonstrating the lack of improvement that the FCA has found in the industry's treatment of retail clients. As a result, the FCA is encouraging firms to assess their policies and procedures, and to pay particular regard to MiFID II (which also takes effect on 3 January 2018).


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Equity investment in smaller businesses doubled in 2021, finds latest British Business Bank research
- Equity investment in smaller businesses surged 130% to £1 billion in the first three quarters of 2021 relative to the same period in 2020 (£6.1 billion) and on course to double compared to 2020
- Bank lending returned to close to pre-pandemic levels, with 2021 lending down 45% from 2020
- Almost half of smaller businesses see reducing their carbon emissions as a priority; over a fifth would use external finance to improve their environmental impact
- Disparities in access to finance remain, with Ethnic Minority-led firms around twice as likely to cite access to finance as a barrier
EMBARGO: 00.01 Tuesday 1 March 2022
Published today, the British Business Bank’s Small Business Finance Markets 2021/22 report highlights a surge in equity investment into smaller UK businesses last year. £14 billion was invested over the first three quarters of 2021, a 130% increase on the £6.1 billion invested over the first three quarters of 20201. With one quarter still to go, investment has already exceeded the £8.7 billion invested in the whole of 2020. At the same time, the report shows that bank lending has returned to close to pre-pandemic levels, with 2021 lending down 45% from 2020, driven by lower drawdowns of government-supported loans.
The report suggests there could be continued economic recovery throughout 2022, with strong demand expected for investment to fuel business growth. Although 2022 may still provide a challenging environment for some businesses, many others report that they are seeking to pivot towards growth, improve productivity and transition to a net zero economy.
Small business debt
The amount of debt held by smaller businesses has significantly increased compared to pre-pandemic levels due to businesses accessing the government’s Covid-19 emergency finance schemes. At their peak in March 2021, smaller business debt stocks were estimated to be 30% up. Encouragingly, however, debt repayments are becoming a smaller share of businesses cash flow as UK economic recovery helps boost their turnover. The proportion of small and medium sized businesses with debt repayments making up more than 50% of turnover has declined since early 2021. For businesses with between 100 and 249 employees, just 2.5% report debt repayments above 50% of turnover, down from a peak of around 5.5% in February last year.
As well as debt markets overall returning to near pre-pandemic levels, there are other indicators of a rebound in activity. Challenger and specialist banks accounted for just over half of the bank lending (51%) – a record share, up from 32% in 2020 – while private debt, asset finance, invoice finance & asset-based lending, and alternative finance all experienced rebounding levels of activity after a difficult 2020.
Catherine Lewis La Torre, CEO, British Business Bank, said: “As smaller businesses look to recovery and growth following a challenging economic period, finance will continue to play a crucial role. With our mission to drive sustainable growth and prosperity across the UK, and to enable the transition to a net zero economy, the British Business Bank will continue to support the country’s smaller businesses by improving access and options to secure external finance.”
Small Business Minister Paul Scully said: “This report shows a massive 130% increase in equity investment into smaller UK businesses, which is a hugely positive step forward in our recovery from the pandemic.
“However there is clearly more to do to get ethnic minority and women-led businesses on to a level playing field when it comes to accessing finance. The Government will continue to work with the sector, including through Start Up Loans and the Rose Review of female entrepreneurship, to ensure everyone has the tools they need to succeed.”
Demand and supply-side factors contribute to geographic imbalances in access to finance
The data shows that both demand and supply-side factors are contributing to geographic imbalances in finance flows. Long-run data covering 2019 to mid-2021 show London businesses remain more open to using finance, with 37% happy to use finance to grow compared to 29%-32% of smaller businesses in most other parts of the UK.
While the UK hosts a large number of rapidly growing businesses, external finance remains highly concentrated in the capital compared to other regions. London firms attracted 70% of 2021 Q1-Q3 investment value. This is partly due to the geographic location of the equity investors themselves, which are predominantly based in the capital. This was also evidenced in the Bank’s first Regions and Nations Tracker, published in October 2021, which showed 82% of equity investment stakes in the UK are between investors and smaller businesses located within two hours of each other.
Despite these inequalities, the British Business Bank’s regional funds programmes continue their success in delivering regional access to finance, with the Northern Powerhouse Investment Fund recently surpassing £300 million direct investment, and the Midlands Engine Investment Fund reaching its £150 million investment milestone.
Breaking down barriers in access to finance in the regions and Nations remains key to levelling up economic opportunity. That is why the British Business Bank remains committed to addressing regional disparities in access to external finance, and is reflected in the recent Spending Review, at which the Bank was provided with additional £1.6 billion for new regional funds and a further £150 million for regional angel investment. In 2021, the Bank’s core programmes are estimated to have deployed more than £979 million of finance to businesses outside of London.
Almost half of smaller businesses view reducing carbon emissions as a priority
In 2021, almost half (47%) of smaller businesses viewed reducing their carbon emissions or environmental impact to be a priority for their business and one in five (22%) would use external finance to help transition their business to net zero. Just over one in 10 (11%) of smaller businesses have already used external finance to support net zero actions.
In contrast, almost three quarters of smaller businesses (71%) viewed maintaining or increasing sales to be a high priority, and almost two-fifths (37%) would be happy to use external finance to grow their business.
Research suggests equity investors are increasingly considering environmental factors in investment decisions. A survey of UK VC fund managers conducted by the British Business Bank indicated that the vast majority (83%) are now taking into account environmental factors within investment decision making, and more than half (52%) see ESG factors as a significant part of their investment decision making process. This has in turn led to an increase in clean tech investment in the market.
In 2021, the British Business Bank introduced a new climate change objective that commits it to supporting the UK’s transition to a net zero economy, alongside joining relevant initiatives such as the Race to Zero campaign and Business Ambition 1.5C.
Half of Ethnic Minority-led businesses are open to using finance for growth
The report also indicates that Ethnic Minority-led businesses are more open to using finance and more ambitious for business growth but access to finance remains an issue. Half (50%) of Ethnic Minority-led businesses are open to using finance for growth compared to a third (32%) of White-led businesses. More Ethnic Minority-led businesses (64%) have ambitions for significant growth compared to 39% White-led businesses.
Despite this, Ethnic Minority-led businesses are more likely to be discouraged from applying for external finance and having their application turned down, leading to negative impacts on their business. Although rejection rates have declined in recent quarters, most likely reflecting the impact of government-backed loan schemes, they remain significantly above those for White-led firms, with data showing that 18% of Ethnic Minority-led businesses were turned down for finance between Q3 2020 and Q2 2021, compared to only 10% of their White counterparts.
As a consequence, Ethnic Minority-led firms are around twice as likely to cite access to finance as a barrier (23%) than White-led businesses (12%). Additionally, most (56%) Ethnic Minority-led businesses currently using finance agreed they thought it would be difficult for them to obtain finance again, compared to 42% of White-led businesses.
Amongst female-led businesses, appetite for external finance has significantly increased to 31% in Q2 2020-Q2 2021, but remains lower than for male-led businesses at 39%. Female-led businesses are also more likely than male-led businesses to be discouraged from applying for finance, citing issues such as uncertainty over where to find finance and concern over the application process being too burdensome. Despite this, only 12% of female-led businesses view access to finance as a barrier, broadly in line with male-led businesses (13%).
The British Business Bank runs the Start Up Loans programme to help entrepreneurs from under-represented backgrounds start up and scale a business. Around 36,000 (40%) of loans have gone to female entrepreneurs and around 18,000 (21%) to entrepreneurs who belong to an Ethnic Minority group (excluding white minorities): almost 8,000 (9%) have gone to female entrepreneurs from Ethnic Minority backgrounds.
British Business Bank team at MHP Communications
t. +44 (0)20 3128 8589
Notes to Editors
About the British Business Bank
The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive sustainable growth and prosperity across the UK, and to enable the transition to a net zero economy, by improving access to finance for smaller businesses. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.
The British Business Bank’s core programmes support over £8.5 billion of finance to almost 95,000 smaller businesses. The British Business Bank is responsible for running the government’s Coronavirus business loan schemes and Future Fund, together responsible for delivering £80.4 billion of finance to 1.67 million businesses. The schemes are now closed to new applications.
As well as increasing both supply and diversity of finance for UK smaller businesses through its programmes, the Bank works to raise awareness of the finance options available to smaller businesses. The British Business Bank Finance Hub provides independent and impartial information to businesses about their finance options, featuring short films, expert guides, checklists and articles from finance providers to help make their application a success. In light of the coronavirus pandemic and EU Exit, the Finance Hub has expanded and it now targets a wider business audience. It continues to provide information and support for scale-up, high growth and potential high growth businesses, but now provides increased content, information and products for businesses in survival and recovery mindsets. The Finance Hub has been redesigned and repositioned to reflect this, during this period of economic uncertainty.
British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. It is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for the group can be found at www.british-business-bank.co.uk
The SME Net Zero survey was carried out by Ipsos MORI, comprising 1,200 interviews with small and medium-sized businesses, defined as businesses having 0 to 249 employees, based in the UK. Fieldwork was conducted between 3 August and 3 September 2021, using computer-assisted telephone interviewing (CATI) and based on a sample purchased from a commercial business database. Data was weighted to reflect the 2020 SME business profile from the Business Population Estimates 2020.
Rejection rate analysis for Ethnic Minority-led businesses and White-led businesses is based on British Business Bank analysis of BVA BDRC’s SME Finance Monitor data. Base sizes are low for Ethnic Minority-led applications and restrict analysis: as a result differences in rejection rates may be caused by factors other than ethnicity.
After the data cut off for the Small Business Finance Markets report 2021/22, Beauhurst released its ‘The Deal’ report on 15 February 2022. Analysis of the data from that report shows that smaller businesses received £18.1bn of equity investment in 2021, up 88% on 2020.
 After the data cut off for the Small Business Finance Markets 2021/22 report, Beauhurst released its “The Deal” report on 15th February. Analysis of the data from that report shows that SMEs received £18.1bn of equity investment in 2021, up 88% on 2020.
 Figures as at 31 March 2021
 Figures as at 31 March 2021


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