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Herbalife, Stella & Chewy, Cincoro Tequila, Jaguar……. and other brands targeting the U.S. consumer right now. Check out our prior Sales Leads columns.
Herbalife Nutrition and the LA Galaxy have agreed to a multi-year renewal of their partnership, which began in 2005 as the club’s official nutrition partner. Herbalife Nutrition will continue as the official presenting and jersey sponsor of the club – a designation that began in 2007 and is the longest-running in Major League Soccer (MLS) history. Beginning with the 2023 MLS season, Herbalife Nutrition will continue as the LA Galaxy’s exclusive nutrition partner, the club’s exclusive health and wellness partner, and the official nutrition lifestyle partner. Additionally, Proactive Fueled by Herbalife Nutrition, an elite state-of-the-art performance facility, located in Westlake Village, CA, will be available to the team for preseason training and sports performance testing at the facility. As part of the sponsorship, the Los Angeles Galaxy Foundation and the Herbalife Nutrition Foundation are also committing $1.25 million to support charitable efforts to benefit vulnerable and underserved children around the world. “We are excited to extend our 17-year partnership with the LA Galaxy and expand it to include new areas of collaboration that will benefit our independent distributors, LA Galaxy players, fans and communities worldwide” said Frank Lamberti, regional president of the Americas for Herbalife Nutrition.
Stella & Chewy
Stella & Chewy’s, the category leader in the raw pet food space, announced that it is launching the brand’s first-ever national ad campaign, “All You Need Is Raw.” The new creative embodies the raw, unfiltered love pet parents have for their pets and how food, especially raw and natural food, plays a key role in how pet parents show their love. The campaign also marks the launch of a new tagline for the brand, “All You Need is Raw,” which embodies Stella & Chewy’s belief that raw is all pets are, and raw is all they need. The omni-channel campaign, led by Chicago-based creative agency Highdive Advertising, and directed by Ian Kibbey and Corey Creasey of Terri Timely, consists of multiple :15 and :30 second spots and will include cable TV, connective TV/Video, audio, social media, experiential, custom content, mobile rich media and influencer relations. The paid media strategy, developed and implemented by the award-winning Exverus Media, employs advanced data and analytics to measure brand awareness, sales performance and online conversions of each media element. The holistic media strategy and approach was designed to rapidly grow household penetration and bring new consumers into Stella & Chewy’s family of growing products of raw dog and cat food and treats. “Our consumer insight is that pet parents want shared experiences with their pets. So the media placements had to support ‘co-viewing’ opportunities: think Animal Planet and Bravo, pet music playlists on Spotify and pet Reddit communities,” said Tasha Day, VP of Media at Exverus Media. “The raw pet food space continues to rapidly expand as more pet parents strive to feed their pets as they would themselves – with real and less processed foods,” said David Campbell, CMO of Stella & Chewy’s. “With this new campaign, we aim to raise awareness of the Stella & Chewy’s brand and portfolio, which offers a range of dog and cat food products to meet varying pet parent needs.”
Cincoro Tequila introduced a national advertising campaign, featuring the brand’s five co-founders and its stunning bottle. Launched in 2019 by NBA owners Jeanie Buss of the Lakers, Wes Edens of the Bucks, Emilia Fazzalari and Wyc Grousbeck of the Celtics, and Michael Jordan of the Hornets, the ultra-smooth, naturally rich tequila continues to innovate to redefine luxury tequila. Computer-generated imagery (CGI) was utilized to digitally create both the flowing liquid of the tequila, as well as the formation of Cincoro’s uniquely designed bottle. In three years, Cincoro has sold 1.5 million bottles nationally and has won 23 awards in accredited spirits competitions. The advertising campaign showcases the authentic story behind the luxury brand and underscores the “Life Well Played” brand platform, positioning Cincoro as the ultimate trophy for earned victories. The campaign features celebratory vignettes of the founders and the voiceover of Cincoro CEO Ms. Fazzalari stating, “When you create a tequila with friends this driven, average isn’t even possible.”
In addition to 30-, 15- and six-second versions of the commercial for digital and social media, the campaign includes luxury print, spectacular out of home (OOH) advertising and e-commerce. The media plan includes streaming digital sites such as YouTube, partnerships with DraftKings and ReserveBar, social media on Facebook and Instagram, print across M. Shanken Communications, Modern Luxury Media and Food & Wine, and OOH executions in Las Vegas, Los Angeles, Miami, and New York.
Pinnacle Financial Services
Pinnacle Financial Services, one of the largest, full-service health, life, annuities, and long-term care national marketing organizations announced that it has acquired Health One Corporation (“Health One”). A Miami-based insurance marketing organization, Health One specializes in the distribution of Medicare Advantage, Medicare Supplement and Affordable Care Act (ACA) health insurance products for beneficiaries in the under-65 U.S. Hispanic market. Per the agreement, terms of the deal were not disclosed. Founded in 2016 by Susan Carrasco, Health One has carved out a significant place in the Medicare and ACA health insurance arena as one of the few true multicultural and multilingual insurance marketing organizations in the United States. Health One supports over 400 licensed agents in more than 30 states, who offer their services in Portuguese, Creole and French in addition to English and Spanish. With the increased capital, resources and support from Pinnacle, Health One will be well positioned to accelerate its growth, expand its agent base and serve more clients nationwide. “The fast-growing U.S. Hispanic market has been a strategic priority for our distribution efforts for many years, and today’s announcement with Pinnacle is another example of our combined commitment to meet the needs of an increasingly diverse pre-retiree and retiree population,” said AmeriLife Chief Distribution Officer Mike Vietri.
At this exclusive event on September 29, 2022, Brand Decision Makers and Marketing Service Suppliers will share and accelerate knowledge on key topics including multicultural marketing, e-commerce marketing and leveraging marketing technologies. To find out about networking solutions at Portada Live involving a myriad of brand decision makers, please contact Sales Coordinator Michelle Lopez at [email protected].
Ford invites Mustang owners and fans to participate in the countdown to The Stampede, the all-new Mustang global debut event on Sept. 14 as part of the Detroit Auto Show activities. With the backdrop of the Motor City, and thousands of invited Mustang faithful, Ford employees and global media in attendance, The Stampede kicks off the next chapter of the Mustang story. “Mustang is the world’s best-selling sports car because there’s one for everyone – from an EcoBoost convertible to 5-liter V8 GT fastback coupe,” said Jim Farley, president and chief executive officer, Ford Motor Company. “Now it’s time to for a new stampede of owners, fans and employees to welcome the next chapter in Mustang’s legacy – the seventh-generation, which will be our best yet.” At the very starting point of where Woodward Avenue, America’s first paved road begins, Ford invites Mustang fans around the world to descend on Hart Plaza for the debut of the all-new, seventh-generation Mustang taking place on Sept. 14 at 8 p.m. EDT. “When we conceived the idea of an indoor-outdoor Detroit Auto Show, The Stampede was the kind of event we hoped and believed was possible,” said Rod Alberts, executive director, Detroit Auto Show. “We are proud to support Ford with what will be an absolutely iconic milestone, celebrating the heritage and future of the Mustang, as well as the global mobility industry, right here in Detroit.” For Mustang fans who will not be in Detroit, The Stampede will be broadcast live on social channels, including Ford YouTube and the Ford Mustang Facebook page.
Lexington, Kentucky-based Cornett has been tasked with creating work that captures the Legoland experience for both kids and adults, according to Christy Hiler, president and owner at Cornett, according to Adage and Gratisownia. Pete Carter, the founder of Creative Haystacks, was the consultant on the pitch, which covers both Legoland’s theme parks and hotels. Legoland has 10 parks around the world. The resorts are mainly designed for children from 2 to 12 years of age and offer over 50 rides, shows and attractions at each resort. Legoland’s parent, Merlin Entertainment, which also owns aquariums, the London Eye and Madame Tussaud’s wax museum, says it is the second-largest attraction operator in the world after Disney.
Jaguar is looking to make a leap into a more upscale market, trying to compete with Rolls-Royce and Bentley rather than Mercedes-Benz and BMW, and the latest step in their transition is a new advertising campaign. The company aims to be an all-electric ultra-luxury brand by 2025, with all of its models priced at least six figures. To achieve this, this new ad campaign attempts to position itself as the automotive equivalent of some of the most exclusive luxury fashion brands. “We are actually part of this world, but we don’t really communicate the brand in this way. We are deeply rooted in the automotive tradition,” Stuart Schorr, vice president of communications for Jaguar Land Rover North America, told Automotive News Europe. “And as we’re trying to get up and moving into the future, sometimes you just need a big break.” The automaker’s Twitter account, focus on models in stylish clothing, while the cars are deliberately left dark and colorless so as not to be in the spotlight. We’re not sure if making the cars a back-story is the best strategy to sell them, but we won’t argue with what is likely a very tactical marketing ploy on Jaguar’s part. Ads will be placed in relevant fashion magazines such as Harper’s Bazaar, Elle, and Esquire to attract this clientele, as well as Road & Track to attract automotive enthusiasts. “We have put this conscious effort into our advertising, our social media and our photography to be much more refined, more elegant and more contemporary,” said Schorr.


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Gwyneth Paltrow may be taking her lifestyle brand Goop to TV as part of a new deal with Netflix.
The actress and entrepreneur is in early talks with bosses at the streaming service to develop a new series that incorporates elements of the company’s website, which offers insights on fashion, beauty, wellness, and decor in a small screen production.
Though the 46 year old has yet to comment on the potential venture, she expressed interest in a Goop TV show in September (18).
“What we are thinking of doing is a TV show with the working title The Radical Wellness Show,” she told The Hollywood Reporter. “I would be going into the field and talking to any number of doctors, scientists, civilians, people in crisis in Flint, Michigan, where there is something to uncover and confront about wellness… but we’re just in the brainstorming phase.”
The residents of Flint are battling a water crisis after the city’s supply was poisoned.
Paltrow also hinted about a TV series during Wall Street Journal’s D.Live tech panel last week (ends16Nov18).
The Oscar winner launched Goop as a newsletter in London in 2008 and later expanded her idea to a lifestyle website offering up fashion tips, beauty advice and wellbeing know-how. Paltrow frequently showcases clothing options for her readers and highlights treatments and products available from beauty brands.
She has also offered her own clothing pieces on the platform as part of G. Label, which includes professional attire
Paltrow has been busy over the past few months – in addition to juggling her business ventures, she is also a newlywed. The mother of two married TV producer Brad Falchuk in a star-studded Hamptons, New York ceremony in September.
© Cover Media

domain: news


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It definitely seems like Ford is trying to get taxi services to replace their Crown Vics with the Escape Hybrid and limo/car-for-hire services to replace their Lincoln Town Cars with the slightly more luxurious Mercury Mariner Hybrid. More power to 'em we suppose, but in both cases the person being chauffeured is giving up a lot of legroom. Nevertheless, the Mariner should be a popular choice in the car-for-hire business thanks to its larger passenger and cargo volume compared to the Toyota Prius.
FORD INTRODUCES FIRST HYBRID LIVERY PACKAGE
Ford Motor Company is promoting its luxuriously equipped, fuel-sipping Mercury Mariner Hybrid as an eco-friendly alternative to stretch limos at a time when the Ford is the first automaker to introduce a hybrid livery package, which demonstrates the company's commitment and innovation to the limo/livery industry, said Doug Walczak, Ford North American Fleet limousine and livery manager.
"There has been demand for a hybrid livery vehicle for some time," said Walczak. "More and more livery clients are asking operators for environmentally friendly options. In turn, the operators are coming to us for a solution."
Ford is offering the Mariner Hybrid with a luxury package as an alternative to its Lincoln Town Car, which is the premier choice of luxury sedans in the limo/livery industry and accounts for more than 80 percent of the market share. Walczak said that the small SUV is getting serious consideration.
"The Mariner Hybrid addresses a market need," said Walczak. "Compared to the other hybrids, the Mariner Hybrid is roomier and has more cargo capacity than the Toyota Prius and is much less expensive than Lexus hybrids."
The Environmental Protection Agency rates Mariner Hybrid at 34 mpg in city driving and 30 on the highway. By comparison, the fuel economy of larger livery vehicles is often less than half or even a third of the Mariner.
The Mariner Hybrid turned a lot of heads at the recent Limo and Limousine & Chauffeured Transportation (LCT) Eastern Conference and New England Livery Association trade show and convention in Connecticut. In fact, Mark Shpilner, owner of Limousine 18 in Boston recently took delivery of his first Mariner Hybrid from the Lincoln-Mercury dealership in nearby Acton, Mass.
"I sold a 2003 Chevy Suburban and decided to try a Mariner," Shpilner said. "We're going to put it out there (as an option for our customers), and see what happens."
According to the National Limousine Association, the growing limo/livery industry has nearly 9,500 companies nationwide, operating approximately 131,600 vehicles from sedans to super-stretch SUVs and tour buses, and serving 1.38 billion passengers annually. There are an estimated additional 2,500 limo/livery operators around the world. The annual gross revenue for operators in the United States is $2.4 billion and the industry's suppliers (i.e., vehicle modifiers) rack up $2 billion in annual sales.
The use of hybrids and alternative fuel vehicles is seen as a growing trend.
"A lot of operators are really interested in it, but a lot are still hesitant," said Camella Lobo of LCT magazine. "A lot of the larger operators that serve corporate clients are driving the trend."
Johan DeLeeuw, president of Olympus Limousines in Atlanta, said some of his corporate clients require or encourage their use environmentally responsible "green" vehicles. A number of prominent hotels, for example, promote Olympus' use of flex-fuel vehicles and participation in a carbon offset program as part of the hotels' earth-friendly operations.
"We also work for big companies like Coca-Cola that require us to have a 'green' program in place. Without it, we won't even get on their property," DeLeeuw said, adding that he doesn't see the trend turning around down the road. "Five years from now, if a transportation company doesn't have a 'green' program, it will have a serious problem."
Olympus is reducing its carbon footprint as a founding member of the Limousine Environmental Action Partnership (LEAP), a consulting firm that assists limo/livery companies to become more sustainable.
"Sustainability is here to stay," said LEAP founder Patricia Charla, whose background is in corporate travel. "Being 'green' is a competitive advantage for corporations today. Limo/livery operators that deliver on their corporate clientele's demands for environmentally friendly transportation will win more business."


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Too much publicity has been in the news, reports the FDA, over the amount of “naturally-occurring” arsenic in apple juice. But the FDA still says apple juice is safe to drink. Check out the September 13 Sacramento Bee article from Stephanie Yao, from the US Food and Drug Administration (FDA), “FDA Consumer Health Information – FDA: Apple Juice is Safe to Drink.” Maybe you’d be better off eating the entire apple, but not the seeds as apple seeds are toxic. Or juice your apples in a blender where you get the fiber instead of the sugar and fructose with the ‘water’.
According to Donald Zink, Ph.D., senior science advisor at FDA’s Center for Food Safety and Nutrition, arsenic is present in the environment as a naturally-occurring substance or as a result of contamination from human activity. So even if the arsenic contamination is there because of human activity such as air, ground, and water pollution, the small amounts of arsenic in various foods and beverages such as fruit juices and concentrates, supposedly show no evidence of any public health risk from drinking these juices, reports the FDA.
The FDA has been testing fruit juices and concentrates for years. There’s no way to get the small amount of arsenic out, at least, not at an affordable price. So maybe you’d be better off buying organic apples and emulsifying them in your blender for juice. You also may be wondering whether arsenic gets into the processing or whether it’s in the soil, air, water, or the tree. Learn more about how FDA tests juices and concentrates for safety at the FDA’s Consumer Updates website. Or sign up for e-mail notices of new FDA Consumer Updates. Or view the FDA Consumer Update RSS feed.
According to the FDA Consumer Health Information site, you can see further information. Also, the FDA values feedback on its consumer health information. Send questions, comments, or story ideas to: firstname.lastname@example.org.
What does the University of California, Davis have to say about apples, since there are so many research projects focusing on apples as far as health benefits? Remember, it’s the whole apple, not just the juice with the fiber removed that has the scientists looking at health benefits of apples–specifically the polyphenols and flavonoids in the fruit.
UC Davis researches the health benefits of apples
UC Davis in the Sacramento and Davis regional area is one of several universities at the center of apple health benefits research. Sacramento and Davis scientists have been studying the health protective effects of apples. And now, a new study of apple polyphenols emphasizes more health benefits of eating apples. In fact, in test animals, in the newest study (at another university in March 2011) apples extended the animal’s life span by ten percent.
As yourself are eating apples healthy in small amounts? And what happens if you eat too many apples and their high natural fructose levels cause your blood sugar spikes to rise, possibly resulting in increased blood pressure and insulin resistance, if you’re genetically susceptible to developing insulin resistance, or if you eat too much fruit or sweets in general? Balance is the key, but how many apples should you eat? And are the studies of apple eating in animal tests applicable to humans?
How will apples affect people with a genetic mutation that makes them more prone to develop insulin resistance and later perhaps type 2 diabetes? Do the health benefits of eating apples outweigh the high fructose content of apples?
In the Sacramento and Davis regional areas, since 2006, the University of California, Davis has been studying the health benefits of eating apples and other flavonoid rich foods. See the article, UC Davis Researchers Reveal Apples’ Protective Ways – Molecular Mechanism Of Flavonoid-rich Fruit Discovered. It’s the health benefits of apple polyphenols that scientists are studying around the globe. Also see other studies results, for example, Apple polyphenols may ease food allergy: Nestlé study, and Apple Polyphenols, a Potent Antioxidant, and the article, An Apple A Day Really Keeps The Doctor Away. For example, in some studies, apple procyanidins may be linked to reduced risk of colon cancer.
UC Davis researchers have discovered one way in which flavonoid-rich apples inhibit the kinds of cellular activity that leads to the development of chronic diseases, including heart disease and age-related cancers. Flavonoids in fruits help to protect the body. The UC Davis School of Medicine studies found out how, at least in the case of apples.
Researchers found that apple extract was able to protect cells from damage and death by interfering with communication between cells. The research findings appear in the journal, Experimental Biology and Medicine. Earlier studies have shown that flavonoids–which are found in chocolate and green tea, as well as other fruits and vegetables–behave as anti-oxidants, taking up free oxygen radicals that can damage precious DNA.
The UC Davis study takes that research further by looking beyond the antioxidant effects of apple flavonoids. Check out the study or its abstract in its primary source, “Effect of Apple Extracts on NF-B Activation in Human Umbilical Vein Endothelial Cells,” Experimental Biology and Medicine.
According to a new study at another university published in March 2011 in the American Chemical Society’s Journal of Agricultural and Food Chemistry, “Apple Polyphenols Extend the Mean Lifespan of Drosophila melanogaster,” scientists are reporting the first evidence that consumption of a healthful antioxidant substance in apples extends the average lifespan of test animals, and does so by 10 percent. The new results, obtained with fruit flies — stand-ins for humans in hundreds of research projects each year — bolster similar findings on apple antioxidants in other animal tests. Also check out a March 2, 2011 news release about this study, “Polishing the apple’s popular image as a healthy food.”
In the study, Zhen-Yu Chen and colleagues note that damaging substances generated in the body, termed free radicals, cause undesirable changes believed to be involved in the aging process and some diseases. Substances known as antioxidants can combat this damage. Fruits and vegetables in the diet, especially brightly colored foods like tomatoes, broccoli, blueberries, and apples are excellent sources of antioxidants.
A previous study with other test animals hinted that an apple antioxidant could extend average lifespan, according to the March 2, 2011 news release. In the current report, the researchers studied whether different apple antioxidants, known as polyphenols, could do the same thing in fruit flies.
The researchers found that apple polyphenols not only prolonged the average lifespan of fruit flies but helped preserve their ability to walk, climb and move about. In addition, apple polyphenols reversed the levels of various biochemical substances found in older fruit flies and used as markers for age-related deterioration and approaching death, according to the news release. Chen and colleagues note that the results support those from other studies, including one in which women who often ate apples had a 13-22 percent decrease in the risk of heart disease, and polish the apple’s popular culture image as a healthy food.


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We’re pleased to announce Jeremy Welch, co-founder of the popular Casa wallet service, is joining Kraken as our newest VP of Product.
In addition to his expertise as a cryptocurrency entrepreneur, Jeremy brings to Kraken a decade of experience leading product development at both startups and tech giants like Google. In his new role, he will be tasked with making it easier than ever for clients to buy and sell crypto assets with Kraken.
This will include launching strategic improvements across Kraken’s product suite and leading the charge on new features to improve our existing user experience.
Jeremy will also continue to serve as an advisor to Casa as it seeks to grow its non-custodial wallet offering, praised by users for enabling them to safely and securely store Bitcoin without the need for a custodian or exchange.
To mark the occasion, we sat down with Jeremy to learn about his new position and to get his perspective on the industry’s past, present and future.
Kraken: Welcome to the team Jeremy! What makes you most excited about leading the product experience here at Kraken?
Jeremy: I’m most excited about building a better future with such a talented team. It’s an incredible honor to learn from and work with Jesse and the other Krakenites around the globe.
Kraken is the quiet juggernaut in the cryptocurrency world. We have a strong security stance and a culture focused on solving real problems for our large global customer base (we’re not just reinventing Wall Street on the blockchain).
Despite already being a customer, it was honestly a surprise to see the breadth of initiatives Kraken is quietly building globally.
There are very few teams that understand the real implications of Bitcoin and other new decentralized technologies. There are even fewer teams out there that have both the resources and the courage to invest in the big technology breakthroughs that are now starting to emerge. I feel very lucky to be working with…


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H-E-B expands delivery through Shipt
SAN ANTONIO — H-E-B and grocery delivery provider Shipt on Wednesday announced the expansion of their partnership that will bring grocery delivery to three new Texas markets, as well as more customers in the San Antonio and Austin metro areas.
"Our longstanding partnership with Shipt continues to give us new opportunities to reach our loyal customers and enable H-E-B groceries to be delivered directly to their homes," H-E-B group VP omnichannel Paul Tepfenhart said. "The expansion with Shipt allows us to provide more H-E-B customers with access to grocery delivery service."
Starting Aug. 8, H-E-B customers in Killeen, Temple and College Station can order their groceries through the Shipt app, which allows them to choose a on-hour delivery windo and pay. Ahead of launch day, Shipt is offering customers in these areas annual shipt memberships — which typically cost $99 — for $49, giving them access to unlimited free delivery on all order over $35.
In San Antonio and Austin, Shipt is adding 185,000 households to its coverage area across the two cities on Aug. 10. New Shipt customers in San Antonio and Austin can try the service for two weeks for free and receive $25 off their first order. The service launched with H-E-B in May 2016, and with the upcoming expansions will reach more than 4.6 million households in Texas.
“Texas residents have been some of our most loyal Shipt members, and we continue to receive requests from new and current metros for greater access to grocery delivery," Shipt founder and CEO Bill Smith said. “This expansion is a reflection of this demand, and our growing partnership with H-E-B has allowed us to work in our shared mission to serve these communities, together.”


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INVISTA Launches New Brand Identity, Web Site for DACRON® Brand
KENNESAW, Ga. — March 24, 2014 — Continuing to build on the global strength of the DACRON® brand, INVISTA has unveiled a new brand identity and an enhanced web site for their world-renowned fiberfill brand at this year’s New York Home Fashions Market Week, March 23-26. The new brand identity, developed after a year of consumer research conducted with almost 2,000 targeted bedding customers, is soft, fresh, modern and natural. Those surveyed agreed that the stylish design conveys the comfort, quality and trustworthiness which have been the hallmarks of Dacron brand for generations.
The expanded dacron.com web site features information on Dacron fiberfill products and technologies, as well as consumer education pages and an engaging, friendly blog on sleep topics. The site will have separate consumer and trade entry points to improve the visitor experience and provide access to specialized content developed to appeal to each audience.
“We believe this brand strategy will provide the foundation for the Dacron brand to continue to drive innovation and excitement as a contemporary leader in the bedding market,” said Roberto Fontanillas, global business director for Invista’s Performance Bedding Products Business. “We are building clear and concise brand messaging to reflect unique Dacron brand differentiators around the world, and to help our customers leverage that differentiation.” The full array of Dacron fiberfill technologies and brand extensions have been integrated with the brand’s new look and feel.
Each global office will be launching media campaigns in industry trade publications announcing the change. The Performance Bedding Products team in the U.S. also has numerous events planned to celebrate the brand’s new look and reintroduce dacron.com, including a traveling slumber party at International Pillow Fight Day in New York City on April 5. The branded Dacron bedroom-on-wheels is outfitted with a custom-made logo’d headboard, along with comfy pillows, comforters and a mattress pad of Dacron fiberfill provided by Hollander Sleep Products. Dacron brand “Fans” will paint the town red, engaging people on the street and encouraging people to follow the brand on social media.
Bedding products made with Dacron fiberfill will be eligible to carry the new Dacron brand image on packaging.
Posted March 28, 2014


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Krispy Kreme sees increase in profit
- Staff Charlotte Business Journal
North Carolina sweet treat maker Krispy Kreme Doughnuts Inc. is reporting net income of $5 million for the third quarter, up from $4.7 million in the same period of 2011, according to The Business Journal of the Triad.
Revenue for Winston-Salem-based company (NYSE:KKD) climbed to $107.1 million in the latest quarter from $98.7 million in the year-ago quarter, an increase of 8.5 percent. Same-store sales rose 6.8 percent.
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US stock futures traded broadly higher on Thursday, boosted by a raft of positive corporate results which helped investors shrug off signs of declining global growth ahead of the busiest day of the third-quarter earnings season.
While not a uniformly positive picture, recent earnings releases have helped to ease investor fears over the outlook for world growth; with around 80% of S&P 500’s companies having topped the street’s expectations, thus far.
These developments come after Wednesday’s session, where US stocks finished higher, overcoming a sluggish start to the day, as investors processed outlook warnings from a number of forerunning US corporations.
The S&P 500 closed +0.29% higher, while the Nasdaq Composite added +0.19% to its value.
Ahead, in today’s economic calendar, Thursday includes; Weekly Jobless Claims and Durable Goods Orders for September at 8:30am EST, PMI Composite FLASH data for October at 9:45am EST, followed by New Home Sales for September at 10am EST.
In earnings; Amazon.com (AMZN - Get Report), 3M (MMM), Intel (INTC), Visa (V), Comcast (CMCSA), Raytheon (RTN), American Airlines (AAL), Southwest Airlines (LUV), T-Mobile (TMUS), Twitter (TWTR), Northrop Grumman (NOC) and Dow (DOW) are all scheduled to report today.
TODAY'S TOP HEADLINES
Economy: ECB Keeps Rates Unchanged as Draghi Waves Farewell to Frankfurt. (CNBC)
The European Central Bank kept rates unchanged on Thursday, in what marks Mario Draghi’s last monetary policy meeting at the bank.
China & Trade: China Willing to Buy $20 Billion of US Farm Goods in Year One. (Bloomberg)
China aims to buy at least $20 billion of agricultural products in a year if it signs a partial trade deal with the US, and would consider boosting purchases further in future rounds of talks, people familiar with the matter said.
Today's Economical Announcements.
08:30AM - ★☆☆ - Weekly Jobless Claims (Previous: 214,000)
08:30AM - ★★★ - C. Durable Goods (Sep) (Previous: 0.5%)
09:45AM - ★★☆ - Manufacturing PMI (Oct) (Previous: 51.1)
09:45AM - ★★☆ - Services PMI (Oct) (Previous: 50.9)
10:00AM - ★★★ - New Home Sales (Sep) (Previous: 713,000)
STOCKS IN THE SPOTLIGHT
Pre-Market Movers & News Related Stocks.
Tesla (TSLA): [EARNINGS] Reported an adjusted profit of $1.86 per share, surprising analysts who had been predicting a loss of 42 cents per share. Revenue was slightly short of estimates, but the automaker’s bottom line was helped by cost cuts and record deliveries.
Twitter (TWTR): [EARNINGS] Fell 3 cents a share shy of consensus, with adjusted quarterly profit of 17 cents per share. Revenue also missed estimates. Twitter reported 145 million daily active users during the quarter, better than Wall Street had anticipated, but it also gave weaker-than-expected current-quarter revenue guidance.
PayPal (PYPL): [EARNINGS] Beat Street forecasts by 9 cents a share, with adjusted quarterly profit of 61 cents per share. The payment service’s revenue was also above estimates. Payment volume came in above forecasts, and PayPal raised its full-year outlook.
EBay (EBAY): [EARNINGS] Reported adjusted quarterly earnings of 67 cents per share, 3 cents a share above estimates. Revenue came in slightly above forecasts. The e-commerce company forecast current-quarter revenue that is below Street estimates, however, amid increasing online competition.
Align Technology (ALGN): [EARNINGS] Beat estimates by 14 cents a share, with adjusted quarterly earnings of $1.28 per share. The maker of Invisalign dental braces also reported revenue that was above estimates. Align issued better-than-expected revenue guidance for the current quarter.
Spirit Airlines (SAVE): [EARNINGS] Reported adjusted quarterly profit of $1.32 per share, 9 cents a share above estimates. The airline’s revenue also came in above Street forecasts. The beat came despite a negative impact from Hurricane Dorian during the quarter. Spirit also gave an upbeat current-quarter outlook.
Ford Motor (F): [EARNINGS] Came in 8 cents a share ahead of estimates, with adjusted quarterly profit of 34 cents per share. The automaker’s revenue was slightly below forecasts, and Ford reduced its full-year profit forecast on lower-than-expected China sales as well as higher warranty and incentive expenses.
Dow Inc. (DOW): [EARNINGS] Beat estimates by 18 cents a share, with adjusted quarterly profit of 91 cents per share. Revenue also topped forecasts, though sales were down 15% from a year earlier on lower prices.
Comcast (CMCSA): [EARNINGS] Reported adjusted profit of 79 cents per share, 4 cents a share better than analysts’ forecasts. Revenue also beat expectations, helped by robust additions of high-speed internet customers.
General Motors (GM): [NEWS] Workers at GM’s Flint, Michigan plant voted to approve the tentative labor agreement announced last week. The positive vote at GM’s second-largest plant could be an indication that a strike could soon end, with workers across the nation currently in the process of voting on the agreement.
3M (MMM): [EARNINGS] Earned an adjusted $2.58 per share for the third quarter, 9 cents a share above estimates. Revenue fell short of expectations, however, and 3M cut its full-year profit forecast as its results are hit by slowing demand in China and other markets.
Southwest Airlines (LUV): [EARNINGS] Earned $1.23 per share for the third quarter, 15 cents a share above estimates. Revenue was in line with forecasts. Strong demand and higher fares helped offset the negative impact of the 737 Max grounding.
Microsoft (MSFT): [EARNINGS] Reported earnings of $1.38 per share, 13 cents a share above estimates. Revenue also beat Wall Street forecasts; however, the company’s Azure cloud services grew more slowly during the quarter.
American Airlines (AAL): [EARNINGS] Came in 2 cents A share above estimates, with quarterly profit of $1.42 per share. Revenue came in essentially in line with forecasts. American put the cost of the 737 Max grounding at $140 million for the quarter, bringing the total to $540 million.
Stanley Black & Decker (SWK): [EARNINGS] Reported adjusted quarterly earnings of $2.13 per share, 10 cents a share above estimates. Revenue was slightly below forecasts, however, and the company cut its full-year earnings forecast as it implements a cost-cutting program designed to save $200 million per year.
Johnson & Johnson (JNJ): [EARNINGS] Cut its previously reported third-quarter profit by $3 billion, to account for the proposed opioid settlement announced earlier this week. However, its adjusted earnings numbers reported earlier remain the same.
Las Vegas Sands (LVS): [EARNINGS] Matched Street forecasts, with adjusted quarterly earnings of 75 cents per share. The casino operator’s revenue was on the light side of projections, however, pressured by the impact from the U.S.-China trade dispute, which is affecting its Macau operations.
GAINERS: WGO, IVZ
DECLINERS: VCYT, SIX, CMG, ADI
BRP Group (BRP) (Price: 14) (Est. Vol: $246.2296M)
TFF Pharmaceuticals (TFFP) (Price: 5) (Est. Vol: $22.0M)
WE WILL SHOW YOU THE WAY!


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BlackBerry maker Research in Motion is rumoured to have scrapped two of the three handsets that it was planning to introduce in 2012, including one that was originally intended to be the first device to run the BlackBerry 10 operating system, formerly known as QNX.
According to online reports, RIM has cancelled the device codenamed Colt, which was intended to be the first BlackBerry 10 phone, and axed another phone codenamed Milan, which BGR reports ran on the current BlackBerry 7 software and had a slide-out keyboard similar to the Torch.
If the rumours are true, this leaves just one BlackBerry 10 device in the works, codenamed “London”. Photos and specs of the BlackBerry London were leaked to The Verge in November 2011, showing a purely touchscreen device equipped with a 1.5GHz dual-core processor, 1GB of RAM, 16GB of onboard storage and an 8-megapixel camera.
RIM was unable to comment at press time.
The rumours do not bode well for the future of BlackBerry 10, which RIM was forced to rename last month after its use of the BBX brand ran into a trademark dispute in the U.S. The company has already delayed the launch of its QNX-based devices phones until the “later part” of 2012, claiming that it wants to use a more advanced chipset that will offer improved power efficiency.Meanwhile, shipments of RIM’s PlayBook tablet – also based on QNX – continue to drop. The company shipped 150,000 during the third quarter of 2011, which ended on 26 November, compared with 200,000 in the second quarter. Net income also dropped dramatically to $265 million, compared with $911 million during the same period in 2010.
Rumours emerged earlier this week at RIM is on the verge of announcing a corporate shakeup that could see co-founders Mike Lazaridis and Jim Balsillie relinquish their titles as co-chairmen. Independent director Barbara Stymiest is tipped to replace the pair as the company’s first ever independent chair, following an internal review of the company’s governance structure.RIM agreed to the review last year after activist shareholder Jaguar Financial launched a campaign calling for the company to sack its chief executives. The calls came amid a series of technical faults that left millions of customers around the world without their BlackBerry services.


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Australia’s media industry has again felt the full consequences of the COVID-19 pandemic’s impact on the economy in May, with the economic slowdown being reflected in another record decline in national marketer ad spend (ex abnormals) of 40.4% to $345.6 million according to the latest SMI data.
That represents a year-on-year decline in corporate advertising expenditure of $234 million and puts the Australian market on track to see more than a staggering $700 million wiped from the advertising market in just the April to June period.
All major media are reporting very large double-digit declines in May following the trend first set in April when ad spend fell 35.3 per cent. And if we add back the Political Party/Union/Industry Assoc category ad spend that abnormally boosted the May 2019 market, today’s decline is even larger at 43.8 per cent.
SMI AU/NZ managing director Jane Ractliffe said the level of decline is simply far worse than anything ever experienced, with many significant product categories pulling the vast majority of their advertising budgets in May.
“In May last year the Travel category was the market’s fifth largest but this month its plummeted to 30th position after a shocking 92 per cent fall in ad spend as the industry shut down. Similarly, the value of bookings from the Live Entertainment category slumped 95 per cent and even the large Automotive Brand category reported a massive 62 per cent fall in year-on-year bookings,” she said.
“The only bright news among the larger categories came from the Domestic Bank category which continued to boost its media investment – this month by 6.2 per cent – as it continued to communicate its relief packages and assistance to its customers.’’
And Ractliffe said there was some other good news, with the market returning to a more normal position in the months of July and August, with SMI’s forward bookings data clearly showing far stronger demand for those months.
“When we look at the level of confirmed ad spend for July compared to what it was at this time last year, we can see a difference of only nine percentage points and for August the difference is even smaller at six percentage points. Given the difference in demand in May was more than 40 percentage points this shows the market is clearly regaining confidence,’’ Ractliffe said.
She said it was also important to note that while these declines are devastating to the Australian media, the same horrendous pattern is being replicated in other world markets.
“SMI has just published our first Canadian ad spend data, and that showed a year-on-year decline in ad spend of 50.1 per cent in May while in the UK the fall was 41.6 per cent, 38 per cent in NZ and 32 per cent in the US. The sad reality is that all sophisticated media markets are feeling the full impact of the COVID pandemic and it’s devastating everywhere.’”
The continued decline in Australian ad spend now means the market’s decline for the January – May period has reached 21.3 per cent while for the financial year-to-date the decline is 12.6 per cent.
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Zoetropes, a praxinoscope, early projectors, and a phenakistoscope have all been used to channel what is considered a monumental moment for carmaker Volkswagen in a new short by Johannes Leonardo. Directed by Sam Brown, the 90-second film ‘The Wheel’ uses some of the oldest devices of motion in film—the Zoetrope (praxinoscope, early projectors, and phenakistoscope)—as […]


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There are seven main towns in Baja California Sur that provide glorious tourism. The administration has said it is seemingly the brand new directive will exclude authorized everlasting residents, making it more durable for opponents to challenge the ban. The U.S. misplaced about $185 million in business travel bookings the week after Trump’s travel ban took impact, according to a report from the Global Business Travel Association, which represents company travel managers and professionals.
In the final three months, Russian company traveling with their partners elevated by 24%. On the day the curbs were lifted by a U.S. judge, bookings from Iran surged, ForwardKeys stated, leaving reservations for travel to the United States five occasions larger on Feb. Insurance policies will virtually always be inclusive of different providers similar to that for emergency evacuation, insurance coverage for flights and personal liability claims, monetary reimbursement for misplaced belongings, and a day by day dwelling allowance should flights be delayed in any method.
When making travel hotel accommodations be sure to name ahead and actually converse to somebody at the lodge. Due to this fact, it is prudent for all international travelers to have Visitors Care Insurance coverage that takes care of medical protection while on their journey abroad. If affected by … Travel More


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Webster's Prime of Kalamazoo has been recognized by the Beef Checkoff Program as the 2012 National Foodservice Beef Backer Independent Operator of the Year. Chef Stefan Johnson and Sous Chef Jud McMichael from Webster's Prime were honored at the 2013 Cattle Industry Annual Convention in Tampa, Florida.
"Today we honor Webster's Prime for its leadership in promoting and selling beef," says Dale Oeschger, a Michigan cattleman and chairman of the Michigan Beef Industry Commission. "This award is our way of thanking Webster's Prime for providing their patrons with an outstanding variety of unique and delicious beef-eating experiences."
Started in 2007, the National Foodservice Beef Backer Awards program was developed to recognize foodservice operators that exhibit leadership and innovation in beef menuing and promotion. A judging panel of industry professionals selected one winner in the following three categories: Independent Operator, Chain Operator and Innovator of the Year.
"We are thrilled to receive this prestigious award and be one of three restaurants in the U.S. named a National Foodservice Beef Backer by America's farmers and ranchers," says Stefan Johnson, General Manager and Executive Chef at Webster's Prime. "We pride ourselves on providing the best-quality and greatest variety of beef options, and we thank the Beef Checkoff for recognizing the unique and extraordinary beef items we've created for our guests."
The menu at Webster's Prime includes USDA Prime, Natural, Premium Angus, Kobe, Dry Aged, and Grass Fed beef, allowing guests to try a different cut or type of beef at every visit. A beef tasting plate offers slices of Wagyu, Grass Fed and Grain Fed beef, giving guests a side-by-side comparison of the different flavors and pairings for beef.
"Webster's Prime offers a combination of premium beef options, innovative beef menu items, and a commitment to providing guests a variety of beef experiences," says Oeschger. "Webster's Prime truly is a leader in menuing the beef that America's farmers and ranchers work to provide every day."
For more information on the Michigan Beef Industry Commission, visit www.MIBeef.org.


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FORT WORTH (CBS 11 NEWS) – It’s the hottest type of beverage on store shelves today and the City of Fort Worth hopes to cash in on its popularity.
Energy drink sales are up 60% over the past four years and driving the beverage industry’s growth.
Now, a major distributor, of those type drinks and many others, from North Carolina is eyeing Fort Worth for a new distribution center.
It’s the type of company that makes city planners giddy about the long-term potential.
“I don’t care whether its beer or soft drinks or bottled water or energy drinks, its a resilient industry,” said business analyst Jim LaCamp. “Well, what kind of industry do you want in this environment? You want a resilient industry.”
And Carolina Beverage Group has cashed in on the industry’s resilience. The company started with just a handful of employees and a brewery back in 1997. Now it has more than 200 employees and bottles a huge variety of beverages including top selling energy drinks.
Now, the company is considering expanding into Fort Worth.
Councilman Dennis Shingleton said the company may put a regional distribution center near Alliance Airport.
Initially, the distribution center could hire around 200 people, he said.
But if they make a big enough splash in the regional beverage market, the distribution center would grow much larger.
“If this develops the way they would like it to develop, it would expand to a much larger operation of not only distribution but production,” Shingleton said.
But first, Fort Worth has to beat out competition from a site in Oklahoma.
And Fort Worth will likely throw in tax incentives to sweeten the deal.
“I think we are prepared to provide some level of abatement for them — at least for a short period of time to get them underway,” Shingleton said.
The Fort Worth City Council will discuss incentives for the company during an afternoon pre-council meeting Tuesday.
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SG Digital’s Open Gaming System (OGS) integrates IWG Instant Win Titles
Scientific Games Corporation announced today that its SG Digital division has integrated instant win games from provider IWG’s portfolio into its award-winning Open Gaming System (OGS) content aggregation platform.
With SG Digital partners going live with OGS, players will now retain access to an expansive library of IWG’s instant titles, including player favorites Cash BusterÒ and SlingoÒ.
Rhydian Fisher, CEO at IWG, commented: “Integrating our instant win games with one of the industry’s largest content distribution networks is an important step for us and improves our international presence greatly. More operators than ever before will now have access to our content.”
Dylan Slaney, Senior VP Gaming at SG Digital, said: “We have recognised the growing popularity of instant win games in the industry, which is why it made strategic sense for us to partner with a leading supplier in this vertical. We are sure that IWG’s highly engaging games will prove to be a hit for our partners and their players.”
IWG started to offer its services to commercial brands and platforms in the wider online gaming industry in late 2016, and the supplier’s instant win titles are live with Mecca Bingo and across GVC’s B2C brands.
Just recently, SG Digital also integrated Hard Rock New Jersey into their Open Gaming System.
IWG has provided a full, online instant win service to lotteries for over 15 years, producing more than 250 high quality instant win games. It won online lottery supplier of the year at the 2017 EGR B2B Awards.
Check out our latest events in the videos below:


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An Asda shopper has hit out at the supermarket after claiming they watched staff and customers "flouting" its face mask policy in store.
The person said both shoppers and staff were not wearing masks properly over their noses and sanitising stations were not being used.
They visited Asda at around 7pm on Thursday, January 14, after not leaving the house for a week but were left "not feeling safe".
Find your nearest vaccination centre
The person said: "I did not feel safe. Many people were simply not adhering to the advice to wear a face covering and I would say at least half who did have some form of covering were not covering their nose, including staff members.
"People were entering the store without sanitising their hands or trolleys.
"Those without masks in Asda were walking around with an aggressive and defiant expression on their face which pretty much dared anyone to say anything to them."
An email sent to Asda was also forwarded onto the ECHO, it read: "The litter outside the store is a disgrace, much of it consisting of discarded masks and blue roll.
"We as members of the public are not in a position to challenge those who flaunt the rules.
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"I know it will be unpopular but your staff must ensure that the rules are adhered to.
"It appears that there are not enough staff to quickly get customers in and out of the store, with waiting times of around 10 minutes at the tills.
"Simply not good enough."
Do you think the rules are being enforced enough in supermarkets? let us know in the comments below
An Asda spokesperson said: "We have extensive measures in place across all of our stores such as covid-marshals, protective screens, social distancing signage and numerous hand sanitiser stations.
"Our customers can rest assured that we continue to follow all government guidance as we have since the start of the coronavirus pandemic."
All measures Asda have implemented in stores can be found here.


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Fiat won't accept a 35% stake in Chrysler unless the U.S. adds another $3 billion to the $4 billion we've already "lent" to the "U.S." automaker, according to a story in the Wall Street Journal. Fiat isn't going to put any money of its own in, of course; no one in their right mind would. Cerberus Capital Management, currently owner of 80.1% of Chrysler isn't putting money in; Daimler owns the rest but values it at zero.
So, without our putting additional money in, the owners can't even give away shares in the company; that means its current value must be somewhere south of zero. Since this is the case, please remind me why we're planning to put more money in?
We are in the process of treating Chrysler Financial, also owned by Cerberus, like a bank so we can shovel money in there so that people can buy Chryslers. If there were no Chrysler, we wouldn't have to worry about Chrysler Financial. We've also bailed out GM (NYSE:GM). We have a better hope of getting a return on that investment if Chrysler isn't taking sales from them. And we've bailed out GMAC "to help GM." We've even added money to the GM bailout so it can put more into GMAC. GMAC's majority owner is Cerberus – must be a coincidence.
Ford (NYSE:F) has so far avoided bailouts. They won't be able to do that forever if we keep bailing out their competitors.
According to the New York Times:
The Fiat deal (they didn't report that it's contingent on more bailout money) will bring Chrysler what it needs to be a viable player in the evolving United States market, with its fuel-efficient engine technology and the engineering that goes into its small cars.
The deal allows Chrysler to make Fiat models in its U.S. plants. The Times goes on to say:
The Fiat brand suffered from a reputation for poor quality among American consumers. Fiat models still score below average in J. D. Power customer-satisfaction surveys in some European markets.
The real value of the Fiat deal is that it gives us a way to see what Chrysler is worth today AFTER we have already put $4 billion in - less than nothing. The best result of this announcement is if we act on the valuation, swallow our losses, move on, and let Chrysler fade away.


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Dennaton Games has confirmed that Hotline Miami 2 will be releasing sometime in Q3 2014.
Hotline Miami was easily one of the best PC surprises of 2012, delivering a top-down retro flavored experience that was almost as challenging and addictive as it was bloody and brutal. That being the case, there was some understandable excitement when its developers at Dennaton Games announced that they were working on a sequel: Hotline Miami 2: Wrong Number.
Unfortunately, while its initial announcement was accompanied by some screens and a trailer, gamers were given no release window to set their sights for. Now however, Dennaton has revealed that fans can expect the new game to release sometime in Q3 2014. While this likely isn’t as specific as many would prefer, it still narrows the field down quite a bit. Moreover, according to the game’s publishers at Devolver Digital, the current hope is to release the game’s PC, PS4 and Vita versions simultaneously. That being said, the company made a point of telling us that “that’s not yet certain.”
I, for one, am sincerely hoping a simultaneous release winds up being the case. Don’t get me wrong, I’m sure that I would thoroughly enjoy Hotline Miami 2 on PC, much as I did the first game. That said, between all the available versions of the original, the Vita edition is the one that I had the most fun with and I’ll probably be holding off on buying the sequel until I replicate that experience.


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An attendee wears a Lenovo augmented reality (AR) headset at MWC 2018. Google could be working on an augmented reality headset to take on the likes of Microsoft's HoloLens and the upcoming Magic Leap headset. That's the word from the guys at WinFuture, who suggest that the Mountain View tech giant's codenamed'Google A65' headset will be powered by a dedicated AR processor from Qualcomm - the QSC603 - a four-core system-on-a-chip that is also rumored to be included in the next-generation Microsoft HoloLens. It's reported that the QSC603 can output video at WQHD resolution, display 3D overlays and supports all the major graphics interfaces including OpenGL, OpenCL and Vulcan. It also has Gigabit WLAN, Bluetooth 5.1 and GPS packed in.
Google unveiled its upcoming VR headset, dubbed the "Daydream View", during its Made by Google event in San Francisco on Tuesday. The View looks nothing like similar VR rigs and, according to Google's VR lead, Clay Bavor, that's a good thing. For one, the headset is crafted from fabric rather than hard plastic. Google worked with a number of clothing manufacturers to create the View's fabric covering, which is available in three colors: Snow, Slate and Crimson. What's more, its phone mounting system is fully self contained and, rather than place the headset's controls on the headset itself or require clunky wands, the View utilizes a small Wii-like remote that stores away in the headset so you don't lose it.
Recode's report states that around 50 employees were working within the clandestine X lab, creating a standalone VR device with a unique operating system, which has been scrapped. Speaking under anonymity, sources told Engadget that Google has been actively assigning individuals to work on a high-end headset in recent months. Team members have been told that Daydream, the mobile VR platform unveiled at Google IO in May, is not the company's long-term plan for virtual and augmented reality. Daydream remains a large focus within Google, of course, with multiple teams working on its development, but it's a stepping stone towards a grander hardware push. Sources said the headset currently in development will not require a computer or phone to power it.
Google's most accessible VR headset is now available in France, the UK, Canada and Germany, via the official store. For something that was meant to bring VR to the masses, Google had been unusually coy about actually putting it out there. The search giant only started selling its own version of the headset in the US in February. Before then, you had to source from third parties (fortunately there are many), or change your cereal or newspaper of choice. Even then, headsets varied in quality for something made of cardboard, and not all the manufacturers offered the newer version, so buying was a bit of an (affordable) minefield.


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Over the past decade, the “swipe” fees big banks and card networks charge merchants to process credit and debit card transactions have more than doubled. Last year alone, they skyrocketed 25% to a record $138 billion. These fees are most merchants’ highest operating cost after labor – far too much to absorb – and drive up consumer prices by $900 a year for the average family, according to the National Retail Federation.Swipe fees affect all merchants and their customers but have the greatest impact on small businesses. Rates are higher for those of us with only a few dozen transactions a day than for national chains with millions of transactions. And while large merchants might have an entire payments department dedicated to navigating the complexities of credit card rules, fees and contracts as thick as a phone book, that’s not the case for Main Street retailers. We are offered credit card services on a take-it-or-leave-it basis with no power to negotiate and no choice but to pay.
In my 28 years in the retail business, I’ve seen swipe fees go nowhere but up. For my 91-year-old fashion and special occasion apparel store, the amount we pay in swipe fees each year has grown to the equivalent of a starting employee’s salary. A grocery store friend says his swipe fees actually exceed his utility bills – amazing considering the cost to refrigerate perishable and frozen items!The reason swipe fees are out of control is that Visa and Mastercard – which hold 80% of the market – have shut out competition. They centrally set the fees charged by banks that issue their cards rather than banks competing to offer merchants the best deal. They further restrict competition by blocking transactions from being routed over other networks that offer lower fees and better security.The current anticompetitive market also removes any incentive for innovation in security. The Federal Reserve says Visa and Mastercard’s networks have five times the fraud of independent networks. In fact, the United States has the most credit card fraud in the world – 34% of fraud but only 22% of card volume. And the Fed says most fraud costs are paid by merchants, not banks or card networks.This broken market is why the bipartisan Credit Card Competition Act has been introduced in Congress by Sens. Dick Durbin, D-Ill., and Roger Marshall, R-Kan.
This landmark pro-consumer legislation would require that the nation’s largest banks enable credit cards they issue to be routed over at least two unaffiliated networks – Visa or Mastercard plus an independent network like NYCE, Star or Shazam, or even American Express or Discover. Banks would decide which two networks to enable on each card, but merchants would decide which to use, forcing Visa and Mastercard to finally compete with other networks over fees, service and security.
Payments consulting firm CMSPI says merchants would save at least $11 billion a year, helping them hold down prices for customers.
Since independent networks have less fraud, consumers’ sensitive financial data would be better protected. The bill would also bar networks controlled by foreign governments like China’s UnionPay from the market, closing a glaring security gap that currently gives banks the option to outsource transactions.It’s time to open the credit card playing field to fair and competitive market practices. Small businesses here in the middle of America compete every day. Isn’t it time that Wall Street banks and global card networks headquartered in New York and California do the same? I encourage Indiana Sens. Mike Braun and Todd Young – a member of the Senate Small Business Committee – to make that happen by cosponsoring the Credit Card Competition Act.
Danny Reynolds is the owner of Stephenson’s of Elkhart, a clothing store in downtown Elkhart.
— to news.google.com


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Nissan Stadium, home of the Tennessee Titans and Nashville SC, transitioning to cashless payment
Bring your card for Nashville SC and Tennessee Titans’ games, folks.
Nissan Stadium, the home of both professional sports franchises, announced Thursday that it is transitioning to a cashless payment facility. The change begins Saturday with Nashville SC’s 2021 season opener against FC Cincinnati.
Visitors of the stadium, which hosts concerts and other events in addition to Titans and Nashville SC games, can expect all purchases of tickets, merchandise and other concessions to be cashless. Accepted methods of payment will be credit/debit cards, mobile payments (such as Apple Pay, Google Pay and Samsung Pay) and gift cards.
Fans who arrive at the stadium with cash only will be directed to Ticket Resolution windows near Sections 108, 309 and 338, where they can purchase a gift card with their cash.
The shift to a cashless payment facility continues the stadium’s commitment to a contactless experience through its Safe Stadium Plan.
More than 20 NFL stadiums across the country have adopted cashless payment.


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Brent Schutte, CFA, is chief investment officer of the Northwestern Mutual Wealth Management Company.
Investors continue to believe that the Federal Reserve is likely done raising rates and that the economy is on its way to a soft landing. The thinking goes that with the tightening cycle potentially ending, the economy could slow just enough for the supply and demand of workers to come into balance but not so much that consumer demand stalls and leads to a surge in layoffs and a resulting recession. Equities have now notched a second straight week of gains as bond yields remained well below their recent highs.
While we appreciate the appeal of such a narrative, we believe it underestimates how seriously the Fed views the current labor market tightness as a threat to its goal of returning inflation to its long-term target of 2 percent. Fed Chairman Jerome Powell reiterated the point last week as he spoke at the International Monetary Fund research conference. Many of his comments echoed remarks he made following the decision of the Federal Open Markets Committee to leave rates unchanged earlier this month. However, at his latest appearance he put a greater emphasis on the Fed’s resolve to bring the inflation rate sustainably down to its target of 2 percent, noting that members of the Fed were “not confident” that Fed policy was restrictive enough to achieve its goal and emphasizing the Fed “will keep at it until the job is done.” And while he acknowledged that significant progress had been made in reining in price pressures, thanks to the unwinding of COVID-induced supply and demand anomalies, he noted the Fed is “attentive to the risk that stronger growth could undermine further progress in restoring balance to the labor market and in bringing inflation down, which could warrant a response from monetary policy.” And while he acknowledged that the Fed wants to avoid causing a recession, he emphasized it is prioritizing the risk of ongoing elevated inflation over the potential for rising layoffs and a resulting recession. “We don’t want to go too far, but at the same time, we know that the biggest mistake we could make would be, really, to fail to get inflation under control,” Powell said.
Put simply, we believe the Fed continues to view wage pressures as an obstacle to ongoing progress in the disinflationary process and sees a slowdown in demand as the most likely path to creating slack in the employment picture. Given the Fed’s concerns about wages we believe it will be unwilling to ease current restrictive rate levels until there is sustained evidence that the labor market has sufficient slack and inflation has returned sustainably to or near 2 percent. Unfortunately, given that employment is a lagging indicator of the economy, we believe that by the time labor demand has eased to the point that annual wage gains have fallen to 3.5 percent or less on a consistent basis, a potential economic slowdown will have already arrived and may get worse as the job market cools.
Indeed, the latest consumer sentiment survey released by the University of Michigan shows that the impact of higher rates is already starting to wear on consumers’ views. Perceptions of buying conditions for everything from houses to cars and durable goods have also deteriorated due to high interest rates. For example, views of home-buying conditions plummeted 25 percent in November and are now tied with an all-time low for the measure reached in 2022. Similarly, perceived conditions for buying durable goods fell 16 percent for the month, and sentiment about the market for vehicle purchases reached lows not seen since December of last year.
Preliminary readings of consumer sentiment came in at 60.4 in November, down from 63.8 in October and marking the fourth consecutive month of declining readings. Notably, sentiment about current economic conditions dropped 4.9 points to 65.7 from the previous reading of 70.6, and long-run economic outlook dropped precipitously. “While current and expected personal finances both improved modestly this month, the long-run economic outlook slid 12 percent, in part due to growing concerns about the negative effects of high interest rates,” said Surveys of Consumers Director Joanne Hsu in a statement accompanying survey results.
It’s noteworthy that interest rate levels are weighing on consumers. As we’ve noted in recent commentaries, consumers and business alike had been insulated from the impact of higher rates as they continued to service loans made at the previous lower rates. We view this report as evidence that the higher rates are starting to filter through the economy more broadly and are making an impact on consumers. As time goes on, debt servicing costs will continue to climb throughout the economy as more loans are repriced at the current higher rates. Chairman Powell reiterated this point as well in his comments last week.
The drop in sentiment comes as inflation expectations have begun to creep higher. The latest survey shows that respondents expect inflation to run at a rate of 4.4 percent in the coming year, up from October’s reading of 4.2 percent and well above September’s level of 3.2 percent. Similarly, long-term expectations now peg inflation growing at a rate of 3.2 percent, up from October’s reading of 3.0 percent and marking the highest level recorded since 2011. It’s important to recall that the Fed has long monitored inflation expectations because it believes that if consumers’ view of elevated inflation has become embedded in the economy, they may attempt to purchase goods and services in advance of the next price hike and thereby create a surge in demand that will reinforce an inflationary loop.
With inflation expectations moving higher, we believe the Fed will closely scrutinize next week’s Consumer Price Index reading particularly in light of recent upticks in some of the other inflation readings, including various trimmed mean measures from individual Federal Reserve banks.
A word on the U.S. credit rating: On November 10, Moody’s, one of the three major commercial credit rating agencies in the U.S., downgraded its outlook for its rating for U.S. government credit to negative. We don’t see the decision by Moody’s as having a large and immediate impact on the view the global investment markets hold for U.S. Treasurys. However, it’s important to remember that the country’s annual interest costs on servicing its debt are rising. With interest payments taking up more resources in the budget, it is likely borrowing costs will become an issue that restricts future government spending. This could mean that we may see an erosion of the ultra-favorable backdrop for risk-taking that has existed over much of the prior decade. While the erosion of U.S. Treasury credit ratings rightfully causes investor worries, we note that Treasurys now offer real yields above 2 percent, a level we feel compensates investors for both credit and inflation risks.
Wall Street wrap
Despite a week of light data, the picture painted by economic reports out last week suggests the drawdown of liquidity in the economy continues, while the job market shows signs of slowing.
More tightening by lenders: Businesses and consumers saw continued tightening of lending standards during the third quarter, according to the results of the Federal Reserve’s Senior Loan Officer Opinion Survey on Lending Practices. The net percentage of lenders reporting tighter lending standards for commercial and industrial loans for large and middle-market firms came in at 33.9 percent. Lenders who noted an increased willingness to issue consumer installment loans remained tight at –20.4 percent—similar to the prior quarter’s reading of –21.8 percent. This is further evidence that the liquidity that helped fuel economic growth over the past few years continues to dry up because of the Fed’s aggressive rate hike campaign. The level of tightening loan availability as well as the decline in demand are consistent with levels during previous recessions and continue to influence our outlook.
Job market leading indicator points down: The latest release of the Conference Board Employment Trends index suggests that the labor market is weakening. The index is an aggregate of eight labor market indicators and is a forward-looking measure. When numbers in the index increase, employment is likely to move higher; conversely, a declining reading suggests that employment is likely to fall. The latest release out last week shows that the index declined to 114.16 in October from 114.63 the prior month. October’s reading continued a trend of declining readings that began after the measure peaked at 119.55 in March 2022, and the measure is now down 3.2 percent on a year-over-year basis. At the seven other times the index has seen year-over-year declines equal to or greater than the current 12-month drop, the economy has been in or fallen into recession.
Continuing jobless claims increase: Weekly jobless claims numbered 217,000, down 3,000 from last week’s upwardly revised figure. The four-week rolling average of new jobless claims came in at 212,250, an increase of 1,500 from the previous week’s revised average. Continuing claims (those people remaining on unemployment benefits) were at 1.834 million, an increase of 22,000 from the previous week and up from the recent low of 1.658 million in early September. As noted last week, while recent data shows that layoffs remain relatively low, the upward trend in continuing claims suggests displaced workers are finding it more difficult to find new jobs. Continuing claims are now 27.4 percent higher than year-ago levels; going back to late 1960, an increase of this magnitude has occurred on eight occasions and each time pointed to the economy either being in recession or on the verge of entering one.
The week ahead
Monday: We’ll get the release of the U.S. Treasury Federal Budget Debt Summary for October. In light of Moody’s decision to downgrade U.S. debt to a negative outlook due to large fiscal deficits and a decline in debt affordability, this is something we are monitoring.
Tuesday: The Consumer Price Index report from the Bureau of Labor Statistics (BLS) will be the big report for the week. Recent data has shown that progress in the disinflationary process has slowed; we will be dissecting the data to see if progress in bringing down the rate of inflation has stalled.
The National Federation of Independent Business mall Business Optimism Index readings for October will be out before the opening bell. The report should provide insights about the state of the labor market for small companies and expectations related to wages in the months ahead.
Wednesday: The latest readings from the BLS on its Producer Price Index will offer a front-line view of changes in costs for buyers of finished goods. It can provide insights into the direction of input costs faced by business and can indicate how prices may move at the consumer level in the future.
The U.S. Census Bureau will release the latest numbers on retail sales for October before the opening bell. The data should yield insights into whether consumers are adjusting their spending habits as a reflection of their expectations for inflation and the economy going forward.
The Empire State Manufacturing Index, released before the opening bell, will offer a look at the health of manufacturing and general business conditions in the influential New York state region.
Thursday: Initial and continuing jobless claims will be announced before the market opens. Initial filings were up again last week, as were continuing claims, and we will continue to monitor this report for sustained signs of changes in the strength of the employment picture.
We’ll get insights into the state of the new construction market mid-morning with the Home Builders Index from the National Association of Home Builders. Confidence among builders has waned as mortgage rates have climbed to nearly 8 percent. We’ll be watching to see if more builders have begun to offer concessions to attract buyers in this high mortgage rate environment.
We’ll get a look at the manufacturing side of the economy with the release of the latest industrial production figures from the Federal Reserve. Consumer spending has been a source of strength in the economy, while manufacturing has been weak. We’ll be watching to see if this report, along with the retail sales data released earlier in the week, shows a continued trend of industrial production remaining flat.
Friday: We will get October housing starts and building permits from the U.S. Census Bureau. This data, along with the Homebuilders Index released on Thursday, will provide insights on whether consumers can expect greater housing inventory in the months ahead.
NM in the Media
See our experts' insight in recent media appearances.
Brent Schutte, Chief Investment Officer, discusses his expectations of how the Federal Reserve may proceed with rates and the risks of chasing current market leaders. Watch
Brent Schutte, Chief Investment Officer, discusses the latest inflation numbers and what they mean for interest rates and the likelihood of a recession. Watch
Brent Schutte, Chief Investment Officer, discusses what’s next for the Fed and the importance of diversification as a hedge against unexpected events in the markets. Listen
Commentary is written to give you an overview of recent market and economic conditions, but it is only our opinion at a point in time and shouldn’t be used as a source to make investment decisions or to try to predict future market performance. To learn more, click here.
There are a number of risks with investing in the market; if you want to learn more about them and other investment-related terminology and disclosures, click here.
As the chief investment officer at Northwestern Mutual Wealth Management Company, I guide the investment philosophy for individual retail investors. In my more than 25 years of investment experience, I have navigated investors through booms and busts, from the tech bubble of the late 1990s to the financial crisis of 2008-2009. An innate sense of investigative curiosity coupled with a healthy dose of natural skepticism help guide my ability to maintain a steady hand in the short term while also preserving a focus on long-term investment plans and financial goals.
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New Mask Guidelines: Trump Tells Americans To Make Their Own Out Of Cloth
US health authorities have changed their positions on masks, reflecting concern over an alarming rate of infection spread by people with no symptoms.
President Donald Trump told reporters about the Centre For Disease Control and Prevention's (CDC) policy shift on Friday afternoon.
"The CDC is advising the use of non-medical cloth faced covering as an additional voluntary health measure," he said stressing that the measure was voluntary.
"You don't have to do it. They suggest it for a period of time, but this is voluntary. I don't think I'm going to be doing it, but there is a lot of ways that you could look at it," Trump said.
The CDC is now recommending Americans wear a face mask from fabric cloth.
"They can be purchased online or made at home. These face coverings can be easily washed or reused," he said.
The new guidelines encourage people to use more rudimentary covering like T-shirts, bandannas and non-medical masks.
"If people wanted to use scarves - which they have, many people have them - they can. In many cases, the scarf is better, it's thicker," Trump said.
"Depending on the material, it's thicker."
Public health officials continue to stress, however, that medical-grade masks and surgical masks should be saved for front-line health workers, who are in desperate need of protective gear.
Trump reminded Americans that the new mask guidelines don't replace the government's guidance on social distancing including washing hands, staying in your home when possible and standing at least one and a half metres apart.
In New York, Governor Andrew Cuomo said he would use his authority to seize ventilators and protective gear from private hospitals and companies that aren't using them.
The World Health Organisation (WHO) remains fixed in its position that if you are healthy, you only need to wear a mask if you are taking care of a person with a suspected coronavirus infection.
Research has found that cloth masks are not effective for health care workers and data on the effectiveness of cloth masks worn by the general public is limited.
"Wrapping cloth around your face probably will not protect you. That’s because a scarf or a hanky does not provide a tight fit around the face, isn’t designed to filter out air and may be contaminated," Australian public health experts have warned.
Yet a 2013 study examined homemade masks as an alternative to commercial face masks during an influenza pandemic concluded wearing a mask was better than doing nothing.
"Our findings suggest that a homemade mask should only be considered as a last resort to prevent droplet transmission from infected individuals, but it would be better than no protection," the authors said.
In 2014 during the Ebola epidemic, a woman nursed her entire family through the illness using home-made protective equipment and did not get infected.
There are also concerns that people wearing masks get a false sense of security and use them incorrectly.
The WHO has issued the following recommendations when wearing a mask.
- Before putting on a mask, clean hands with alcohol-based hand rub or soap and water.
- Cover mouth and nose with mask and make sure there are no gaps between your face and the mask.
- Avoid touching the mask while using it; if you do, clean your hands with alcohol-based hand rub or soap and water.
- Replace the mask with a new one as soon as it is damp and do not re-use single-use masks.
- To remove the mask: remove it from behind (do not touch the front of mask); discard immediately in a closed bin; clean hands with alcohol-based hand rub or soap and water.
Contact the author firstname.lastname@example.org


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Macromedia co-founder grasps CEO role
- Robert Celaschi, Silicon Valley Business Journal
Before he joined the venture development team at Accel Partners in 1998, Bud Colligan was an entrepreneur and executive himself, a co-founder and CEO of Macromedia. That experience means a lot to Anil Arora, president and CEO of Yodlee, one of Accel’s portfolio companies.
“He has been in my shoes. I think it is very helpful to have someone who has been there and done that,” Arora said. He also credits Colligan’s marketing background — including the launch of Apple’s Macintosh computer in the 1980s — with making sure Yodlee keeps its value proposition crystal clear as a personal finance data platform for financial institutions.
Conversely, Colligan insists he became a better CEO after Macromedia’s directors encouraged him to sit on one or two other boards.
“They felt that I would get some perspective and learn skills about how to manage and interact with my board,” he said.
For early-stage companies, especially, a director has much more of a hands-on role, he said.
“Many boards aren’t called upon to do as much when the CEO is great and the company is very successful. Your job is to go to the meetings and, basically, applaud,” he said. On a publicly traded company, the board must focus more on fiduciary issues, partnerships and connections. Nonprofit boards present yet another role, since the measurement of success isn’t just on the balance sheet. Often, the director is expected to be a fundraiser as well.
To be a successful board member, a director must be excited about the product or the mission of the company or nonprofit, he said.
“Even if the business is having trouble, is there a way to make it successful? Or if it is doing well, how did it get to do well? What are the prospects that it will continue?” he said.
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A week before Black Friday and the sales promotions just keep on rolling into the e-mail inboxes.
Garnet Hill on Thursday began offering “The Garnet Hill Gift Sale.” It’s the event where shoppers can begin saving 25 percent off on their orders plus free shipping now the Tuesday after Cyber Monday. Certain exclusions apply, but typically for items already on sale or because a brand — such as Chan Luu, Eileen Fisher, Hanro, The North Face and Ugg — has opted out of the site-wide promotion.
Foxcroft is offering a free 100 percent acrylic ruana — which it says has a value of $128 — on orders of $175 or more. E-tailer e-Bags.com is offering 25 percent off, plus 20 percent back in reward points, and shoppers can take a look at its “Extreme Black Friday” preview of deals up to 85 percent off original listing prices. Mark and Graham is doing some prospecting for new customers, offering anyone shopping the site for the first time a special code for 15 percent off the entire order.
An e-mail from Michael Kors has the tag line “A Sale You’ll Thank Us For: Extra 25% Off.” The additional discount is for already-reduced styles. Among some of the items the Kors site is pitching: Haley large leather satchel, now $168 from the original listed price of $448; Nini pavé silver-tone watch, $162.50 from $325; nylon puffer jacket, $154.88 from $295; military wool peacoat, $267.75 from $595; Angela small French calf-leather top-handle bag, $973 from $1,390 and the larger version of the Angela French calf-leather top-handle bag, $1,183 from $1,690. While there were some apparel and footwear offerings, the majority of the sale items were handbags and small leather goods and accessories.
Late in the afternoon Lands’ End sent out an e-mail for a nine-hour flash sale ending at midnight that gives buyers 50 percent off all outerwear. Earlier in the day, the company sent an e-mail giving shoppers 40 percent off plus free shipping when they spend $50 or more. The sale — dubbed “Share the Warmth” — ends Sunday.
The general consensus is the companies have reduced inventories so they are going into the holiday season fairly lean. Fitch’s senior director for corporate finance, retail, David J. Silverman said the reduction in inventory buys, particularly in categories such as apparel, “will limit the need for margin-destructive markdowns to clear excess product.”
At a presentation Thursday hosted by Instinet, equity analyst Simeon Siegel said cleaner inventories should provide limited margin erosion in theory, but cautioned “clean inventory is only clean until you can’t sell them. Then they become excess inventory.”
Siegel said most of the promotions going on are likely planned promotions, meaning that the smart retailers have been buying goods specific to the promotions. But he cautioned that while it’s easier for retailers to buy for the promotions, it isn’t so easy to buy at the price needed to ensure targeted margins are met.
For now at least it seems that in the U.S., consumers might be ready to turn their attention back to the business of holiday shopping.
A study by HookLogic showed that e-commerce dropped year-over-year 5 percent the day before the Nov. 8 presidential election. The declines dropped further to 16 percent the day of the election, and plummeted 23 percent the day after. But by Thursday, two days after the election, digital online shopping was back up 24 percent. While desktop shopping stayed flat, access to commerce sites on mobile phones rose 3 points over 2015, ahead of tablets, which fell 3 points year-over-year.


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Xapo Bank, a Gibraltar-based licensed private bank and Bitcoin custodian has partnered with stablecoin issuer Circle to become the first financial institution in the world to integrate a SWIFT alternative payment rail in USD Coin (USDC) cryptocurrency.
The feature allows the bank’s customers to circumvent costly and time-consuming SWIFT payments and instead deposit, withdraw, send, and receive money in real time with Circle’s USDC stablecoin.
Xapo Bank Partners With Circle to Launch Stablecoin Payment Rail
Payment rails are systems or networks that allow the digital transfer of funds between two parties, regardless of their country or currency. There are different types of payment rails, like bank wire networks, payment card networks, and blockchain-based protocols. Some popular payment rails are Automated Clearing House (ACH), Visa, Mastercard, SWIFT, PayPal, and blockchain technology.
According to the announcement made on March 22, Xapo Bank will be offering a 1:1 conversion rate for all USDC to U.S. dollar (USD) exchanges. Furthermore, the bank will automatically convert all deposits to USD so that customers can rake in the benefits from a 4.1% annual interest rate return on their USDC deposits. Apart from a $150 member fee, the bank will not charge any fees for the services.
Considering the recent bank failures in the United States, Xapo Bank assured customers that as a fully licensed and regulated financial institution under the Gibraltar Deposit Guarantee Scheme (GDGS), it will guarantee USD deposits of up to $100,000.
The bank also said it does not indulge in any crypto staking activity using the USDC deposits, declaring that it has no exposure to the crypto market as all customer deposits are held in dollars.
Xapo Bank takes a different route from the traditional banking system. Most banks rely on the fractional reserve system, where they are only required to keep small amounts of customer deposits to be made available for withdrawal while the remaining funds are used to create loans or invest in long-term securities to earn interest.
Meanwhile, Xapo Bank maintains all its deposits in reserve and invests them in “very short-dated, highly credit rated, money market instruments” and short-term bonds. Unlike traditional banks, Xapo Bank shares 80% of the interest earned through these investments with its customers.
Seamus Rocca, CEO of Xapo Bank, said the USDC payment rail marks a watershed moment in financial history. He added that the faster and cost-effective service will run 24/7, including weekends, eliminating customers’ anxiety about holding their USDC in crypto exchanges and the complications with transferring the tokens through expensive fiat off-ramps into traditional banks.
The news comes a week after Xapo Bank announced it was expanding its payment rail to integrate Britain’s Faster Payment System (FPS) to enable account deposit and withdrawal settlements in British pound (GBP).
Earlier this month, the bank also announced a collaboration with Bitcoin-based payment service provider Lightspark to integrate Bitcoin’s Layer-2 scaling solution, Lightning Network, onto its system.
The service allows Xapo Bank users to pay for purchases of up to $100 at any vendor accepting Lightning payments on the go without having to incur any high transaction fees or long blockchain confirmation waiting times.
USDC Turmoil and its Redemption Arc
Circle and USDC have been going through a tough few weeks since the collapses of two of its main banking partners, Silicon Valley Bank (SVB) and Signature Bank. The stablecoin issuer held $3.3 billion in cash reserves backing USDC on SVB while making use of Signature Bank’s SigNet protocol for USDC to USD exchanges.
Both banks were shut down by U.S. regulators after falling victim to the Federal Reserve’s rising interest rates on the dollar, forcing the institutions to sell their investments in long-term securities at huge losses to make fund withdrawals available to customers. The banks suffered from runs by panicked customers who rushed to withdraw their deposits, resulting in insolvency.
Circle was heavily impacted by the closure, as USDC holders were worried about the token’s future and began redeeming their investments. The stablecoin lost its dollar peg and was at one point trading as low as $0.87.
It was only after the U.S. government announced they will be bailing out both banks and Circle said it will be moving all deposits in SVB to BNY Mellon that USDC regained its dollar parity. USDC is the second-largest stablecoin with a $40 billion market cap and is one of the most traded cryptocurrencies.
Earlier this week, Circle partnered with Australian stablecoin wallet provider Stables and global payments giant Mastercard to allow retail customers in the Asia-Pacific region to make real-time payments at merchants in USDC.
The service currently available to Stables users in Australia will soon be expanded to countries in North America, Latin America, Europe, and Africa and also support transactions in their respective local currencies.


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Dwayne Wade and his jacket were loud and proud about their victory over the Chicago Bulls on Thursday night. Image via SB Nation.
It’sthe NBA Playoffs, which means that players in the already stylish league have amped up their fashion choices even more for the bright lights of post-season play. Depending on the particular person and day, that can either be a good or a bad thing.
LeBron James took to social media to show off one of the spoils of his success. The reward? There are too many to count, but this particular time it was to highlight a sweet, sweet pair of sneaks that is a product of his tenth signature shoe with Nike.
The Miami Heat are champions. That's right, LeBron James finally has his ring. How best to celebrate? Why, by dousing yourself and your teammates in champagne, of course. And how best to translate that scene into a memory fans will always remember? Add a soundrack from the timeless brilliance that is "Coming to America."Duh.
I have already said too much. Something this hilarios requires few words. Just go. Watch.
(h/t to Roy Burton of The Broadstreet Line podcast for spotting this amazingness)
Photo via BlackSportsOnline.com
So, there are a few positives I can hand to the Miami Heat's LeBron James about his accessorizing before Sunday's game against the Lakers.
Mrs. James enjoying a rare moment of calm