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Some U.S. shippers are urging U.S. Customs and Border Protection (CBP) to push back its November 1 deadline for its new ‘single window program’, saying they are running out of time and more internal agency checks are needed.
The Automated Commercial Environment (ACE), single window promises to consolidate, automate and modernize border processing. When complete, ACE will provide a single access point to connect the trade community with Customs and partner government agencies.
U.S. Federal agencies have been getting down to brass tacks in the past few months as they approach the November deadline, when the major components of the program including the mandatory use of ACE for all entry summaries and cargo release transactions will be put in place. Effective November 1, Customs will turn off its paper-based legacy system and importers and exporters will file all documentation electronically.
Shippers’ groups such as the Trade Leadership Council (TLC), however, have voiced concerns that the program is not entirely ready and many of the importers, exporters, Customs house brokers, freight forwarders and the carriers they represent simply aren’t prepared.
“We are concerned that proceeding with the November 1, 2015 deadline will result in unwarranted expense and disruption for both trade and the U.S. Government and will harm future and ongoing efforts to continue the development of ACE,” the group said in a letter to Customs Commissioner, Gil Kerlikowkse.
“Launching the program on November 1, a date set before the scope of the program was later expanded, would be premature,” they said.
According to the Council, despite significant progress, the ACE program has not been sufficiently advanced for a mandatory 100 percent implementation by November 1. Customs and other government agencies involved, by their own admission, are still in the process of developing necessary programs and pilot test programs with most partner agencies are only just now beginning.
In addition, the Council avers that processes and procedures for the program have not been fully defined, Federal notices have not been published and implementation guides have still not been finalized.
“Until processes and procedures are developed, training cannot be initiated,” the Council said.
“By Customs’ own numbers,” the Council said, “only about 5 percent of cargo releases are currently processed through ACE. That cargo release process, however, is about to become significantly more complex as 15 additional agencies are brought online.
“Piloting of these systems is to start next month, a schedule that does not allow sufficient time to assure that the four elements enumerated above are addressed,” the Council said.
Customs did not return requests for comment, but insiders say the Council’s concerns echo remarks they have heard throughout the industry.
“I certainly understand where the TLC is coming from,” Marianne Rowden, President and CEO of the American Association of Exporters & Importers said.
Rowden said she had just come from attending meetings with Customs’ Trade Support Network last week. The group provides a forum for the discussion of significant modernization and automation efforts within the trade community and its roughly 300 members represent the entire breadth of that community, including trade associations, importers, exporters, brokers, carriers and sureties.
While attending the meetings last week, Rowden said it was clear that there remain cascading issues from software vendors to Customs brokers to importers.
“CBP is pretty adept at dealing with data issues, but we are pretty sceptical that the partner government agencies will have their act together by November 1,” she said.
Speaking earlier in Washington, D.C., Kerlikowkse said he recognizes the industry’s concerns and has encouraged an era of transparency and open communication at the agency he has overseen for little over a year. “The payoff is going to be worth it,” he promised.
“There’s going to be a great return on investment in this technology enabling Federal agencies to able to review all at one time, to respond to cargo movement, reducing costs for both importers and the government.
“While the U.S. trade community and Customs move forward with ACE, the Customs services and trade communities in other countries, including many top U.S. trade partners, are developing their own ‘single window’ portals. The aim is that, eventually, the export documentation of one country will become the import documentation in the receiving country,” he said.
Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.


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(Pocket-lint) - Sony has announced two new Android handsets, the Sony Xperia T2 Ultra and the Sony Xperia T2 Ultra Dual.
The new handsets offer a 6-inch display, but leave the resolution at 720p, looking to take on devices like the Huawei Ascend Mate and the Samsung Galaxy Mega 6.3.
Sony says the new models have been designed for emerging markets, with China, the Middle East, Africa and Asia Pacific in the spotlight, and although no price is given, we suspect it will come in at under €400.
The new Sony Xperia T2 Ultra has a design that reflects the Xperia Z line, although there's no waterproofing on offer here.
Addressing one of the criticisms of the Xperia Z1, Sony says that the screen reaches to within 2.5mm of the edge of the phone, as it tries to engineer away the bezel.
The result is a handset that's only 7.6mm thick and weighs 173g, impressive for a device of this size.
Under the hood there's a 1.4GHz quad-core Snapdragon chipset with 1GB of RAM and 8GB of internal storage, with the option to expand this up to 32GB via microSD.
Powering the new handsets is a 3000mAh battery, which should see you through the day when combined with the Stamina functions included with Sony's software customisation over Android.
Around the back is a 13-megapixel camera with Exmor R sensor, paired with a 1.1-megapixel front camera for the inevitable selfie. Sony claims this camera is the "best in class", and there's a host of clever camera features such as timeshift burst and collage.
The Sony Xperia T2 Ultra will offer 4G LTE connectivity and come with NFC and for those looking for the flexibility of two SIMs, there's the Xperia T2 Ultra Dual.
"Xperia T2 Ultra will lead the category through its combination of advanced display and camera technologies, it will bring large-screen entertainment in an amazingly portable form factor and it will do it all whilst providing incredible value for money," said Calum MacDougall, director of Xperia marketing at Sony Mobile.
"Its large HD display will deliver big-screen entertainment on the go while the efficiency of the design will allow it to remain the worlds most portable large screen smartphone."
There's no confirmed word on pricing or availability yet.
The new Xperia devices come hot on the heels of the Sony Xperia Z1 Compact, launched at CES 2014 in Las Vegas.

domain: news


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We just published a new Temkin Group report, Innovation Equity Quotient. Here’s the executive summary:
Companies focus on innovating new products and services, but how willing are consumers to accept these offerings? The Innovation Equity Quotient measures the readiness of consumers to try something new from a company. Led by Hershey and Kraft Foods, six consumer packaged goods (CPG) firms came out at the top of the ratings. In some head-to-head comparisons, Google leads technology companies, Coke beats Pepsi, and Walgreen’s beats CVS. We also examined the data across age, income, gender, and ethnic groups. Income levels appear to have the least impact on the Innovation Equity Quotient, but there were considerable gaps in the other areas. Nintendo and Google have the largest age gaps, Revlon and L’Oreal have the largest gender gaps, Apple has the largest income gap, and Nike has the largest ethnicity gap.
To understand this demand-side component of innovation, we created the Innovation Equity Quotient (IEQ) that gauges consumers’ openness to trying new products and services. IEQ is based on a simple question: “If <COMPANY> announced a new product or service, how likely would you be try it right away?” We asked this question to 5,000 US consumers and calculated IEQ for Forbes 50 most valuable brands. Here’s how they fared:
The report includes data charts that highlight the 25 brands with the largest IEQ gaps across age groups, ethnic groups, gender, and income levels.
The bottom line: Innovation is more successful when customers want to try new offerings


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It has been boarded up and derelict for more than 12 months, but Mirvac is moving ahead with plans for the future of the flood-ravaged Toombul Shopping Centre.
The developer filed an application with the Brisbane City Council this week to demolish the centre.
Mirvac bought the shopping centre for about $233 million in 2016, and spent a further $35 million on upgrades in 2019, before floodwaters swept through the centre in February last year.
But the developer’s 2022 annual report showed the abandoned shopping centre was worth just a fraction of what it was, now valued about $90 million.
Now Mirvac plans to demolish the shopping centre and its foundations, which could take up to 12 months.
“After a difficult 12 months for the Toombul community we are continuing to move ahead with our Toombul renewal program,” a Mirvac spokeswoman said.
“We are working through the future vision for the site.
“Whilst future plans for Toombul have not yet been determined, we look forward to sharing planning concepts when these are available.”
Mirvac filed a DA to seek permission to demolish the structures on the “former Toombul site” as planning for the future continued.
A new masterplan for the site is expected to be available for community review by the end of 2023.
“Given the extent of the damage, the flood-damaged buildings need to be demolished to allow future site redevelopment opportunities,” the spokeswoman said.
Brisbane City Council’s City Planning chair Cr Adam Allan said the council’s planning team “will be working closely with Mirvac to assess this application and provide a prompt response”.
“This will allow Mirvac to commence demolition activities as quickly as possible to support renewal of the Toombul site,” Allan said.
Mirvac has previously gone on record to reiterate its commitment to retaining retail on the site at Sandgate Road.
It could, however, be an opportunity to reimagine the site with residential and commercial components, similar to the evolutions of other shopping centres around Australia, including Vicinity Centres’ Box Hill development.
In May last year the developer announced the shopping centre was beyond repair due to flood damage and mould but Mirvac rejected claims it had planned to raze the centre and replace it with high-density residential buildings.
Article source: Queensland Property Investor


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AMD (Advanced Micro Devices) confirmed that this year AMD Zen 3 processors will increase annual revenue by 30%. The new Zen 3 based on the 7nm process is truly a game-changer for the red team. With the struggles in the recent years, AMD Zen 3 processors are finally helping the company make up for the loss. This 30% increase in revenue has put the company on comfortable grounds.
AMD revealed more details in regard to the growth rate at their annual financial analyst conference. We learned at the conference that in the next 5 years, the revenue growth rate will be 20%. However, this specific year will keep the revenue margin by around 28% to 30%. In 2019 AMD’s revenue only increased by 4% from $6.48 billion to $6.73 billion. But according to the new 30% increase, AMD may earn up to 8.75 Billion US dollars as revenue this year.
These are quite astonishing numbers when there is an epidemic threat. AMD did not hold back on the Q1 quarters suffering badly due to the Corona epidemic. This had the company benefit from 50 million US dollars which is a 42% increment compared to last year.
Last year, the AMD Ryzen 3000 and the EPYC 7002 series made a statement by shaming Intel in terms of both price and performance. With the Ryzen 3000 performing a lot better for the buck, it became the better and cheaper choice for consumers.
On the other hand, the EPYC ROME annihilated an Intel Xeon 48 core dual CPU data system with only 64 Cores on board. We can say that AMD has their 7nm Zen 2 processors to thank for the confident attitude. We should also look out for a new version of the Zen 3 7nm processor this year.
Continuing with this year, AMD has a wide range of new products that will soon drop in the market. These include notebooks powered by APUs (accelerated processing unit), both the Sony PlayStation 5 and Xbox Series X and Desktop grade APUs as well. These will all be based on the new Zen 3 architecture. This was confirmed by the red team’s CEO, Lisa Su in the CES. Apart from the Zen 3 processors, AMD also claims to release an NVidia killer later this year. They have teased their new Navi 2X GPU line as well.
This GPU will be using the RDNA 2 architecture. Details state this will be 50% more energy-efficient in comparison to its older brother RDNA. Rumors are going around saying this will be AMD’s weapon to put an end to NVidia’s reign in the graphics segment. It has become obvious that AMD is dominating all areas building them a stable product portfolio this year. 2020 will truly be the year for AMD.


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New MSU Student Housing Nearly Ready To Open
A new housing option for Michigan State University students near Breslin Center will open soon.
The development, 1855 Place, is named in honor of the year MSU first opened its doors.
"So we’re not just looking to the future, which of course we are with these very modern looking buildings, but we’re also honoring the past with that name," said Kat Cooper, Director of Communications for MSU’s Hospitality Services.
1855 Place will replace the majority of Spartan Village and provide retail and office space for university employees.
"We’ve got a number of different configurations between studios, two bedrooms, four bedrooms and town homes, so students can customize their living experience," said Cooper.
The apartments and town homes at 1855 place are owned solely by MSU and are available exclusively to students.
"These are priced comparable to the market in East Lansing," said Cooper. "You’ll find that for a new apartment in East Lansing, this is going to be similarly priced, taking into account this offers a much closer location."
1855 Place’s retail space also includes a Starbucks that will be available to residents and the public. There is also a Sparty's grocery store.
The construction is expected to be finished by Fall.


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Shares of Apple jumped just over 5 percent in aftermarket trading immediately following the company’s hotly-debated, highly-anticipated fiscal third-quarter earnings report. The picture that emerged wasn’t all great but it did seem to soothe investors for the time being.
Apple reported selling 31.2 million iPhones, a record for the June quarter, compared to 26 million in the same quarter last year. iPad sales hit 14.6 million during the quarter, compared to 17 million last year.
Apple did not break out sales by model, but CFO Peter Oppenheimer said in a conference call that iPhone 5 remains “by far the most popular iPhone,” adding that the company was “very pleased” with sales of iPhone 4 and iPhone 4S.
Piper Jafray analyst, Gene Munster, expected strong iPhone sales in the United States to offset declines in international sales. He had expected sales of iPhones to remain flat year over year at 26 million, with iPad sales totaling 18 million.
Quarterly revenue hit $35.3 billion while net profits were $6.9 billion, or $7.47 per diluted share. That compares to revenue of $35 billion and net profit of $8.8 billion, or $9.32 per diluted share, in the year-ago quarter.
Gross margins fell in line with analyst expectations of 36.5 percent compared to 42.8 percent in the year-ago quarter.
International sales accounted for 57 percent of the quarter’s revenue.
Many watching Tuesday’s earnings were looking for assurances that Apple could pull out of the dive it has endured lately. The company’s stock, which the late Steve Jobs panned as out of the company’s control, has had a rough go of it lately, Apple’s 52-week range founds its ceiling back in October of 2012 at $705, and its bottom at $385 in April of this year. Investor worries have hinged on everything from supply problems to a lack of innovation in a competitive devices market.
Apple is provided fourth-quarter guidance revenue between $34 billion and $37 billion, with gross margins between 36 percent and 37 percent. Operating expenses are expected to be between $3.9 billion and $3.95 billion.
Oppenheimer said Apple is “on track” to have a very busy fall. The company is readying for the launch of its rebuilt mobile operating iOS 7. Historically, the launch of a new version of iOS will mean new devices.
Apple CEO Tim Cook said he’s optimistic about the companies opportunities for growth, saying the company could expand everything from its retail outlets to its product lines, both in categories it currently works in and in others.
On the matter of sticking with high-end products, particularly smartphones, Cook said he feels that there’s still room for growth in the space.
“I don’t subscribe to the common view that the high-end smartphone market is at its peak,” Cook said.
When talking about the iPad, Cook referenced reports on Web share, which showed that 84 percent of all web traffic from tablets came from iPads.
“If there are lots of other tablets selling, I don’t know what they’re being used for,” Cook said.
Shares of Apple had settled to around $435 or an aftermarket gain of around 4 percent by the end of Tuesday’s call.


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A new year and a new owner will bring a fresh look to Stucchi’s on South State Street.
Local businessman Jim Seta bought the Stucchi’s location last month. Seta, who also owns the Dexter Stucchi’s, said while “renovate is a strong word,” big changes are taking place at the shop to encourage community building including alterations to the store’s interior and the introduction of new products.
Seta said he felt the old interior of the store “wasn’t as welcoming as it should be,” and the remodeling plan aims to include an Ann Arbor-themed mural near the front of the store and chalkboards for customers to draw on.
Another addition is a multi-colored sprinkle bar for customers to enhance their ice cream treats. Seta added that the sprinkle bar is free when it’s sprinkling outside, to create an incentive for customers to purchase ice cream on rainy days.
Ultimately, Seta said all of the changes are part of an effort to make Stucchi’s more community-oriented, like it was when the company was founded in Ann Arbor more than two decades ago.
He added that the State Street location has not been as successful as his Dexter store in building a community feel, and he plans to improve the stores visibility in the area.
“Our philosophy is to ingrain ourselves in the community,” Seta said.
In addition to the design changes, the store will offer a selection of chocolates from the Gaylord-based Alpine Chocolate Haus. Smoothie, malt and shake options will also be expanded, and Seta hinted that a coffee line may also soon be available at the store.
Seta said all the changes will be exclusive to the State Street location, adding that the refurbished store will be formally unveiled at a “Grand Re-Opening” in March.
Matthew Arthur, owner of the neighboring Ben & Jerry’s store, wrote in an e-mail that he has owned the State Street franchise for six years, and is not worried that the renovations to Stucchi’s will deter customers from visiting his store.
“We have always kept our store up to date to keep up with the times and keep a fresh clean look,” Arthur wrote.
Arthur added that Ben & Jerry’s recently received new paint and more energy-efficient lighting. TVs and new artwork will also be installed in the future, he wrote.
Regardless of aesthetic and menu changes, LSA freshman Chelsea Cole said she has preferred Stucchi’s over Ben & Jerry’s when choosing where to purchase ice cream on State Street.
“I’ve never been a big fan of Ben & Jerry’s,” she said. “I’d rather support something Michigan-based than a huge chain.”


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Buoyed by the vaccine rollout and a bounce back in consumer spending, the British economy is growing at its fastest pace in 80 years. With the winter lockdowns now firmly behind us, GDP jumped by 4.8% in April-June – signalling a potential recovery to pre-pandemic size by the end of this year.
After the economy shrank by a record 9.9% in 2020, the new positive outlook will instil businesses with much optimism for the latter half of 2021. The EY Item Club now expects GDP to grow by 7.6%.
In this week’s blog, we’re exploring the sector driving the nation’s success and how the economic upsurge is impacting employment.
An analysis by CGA’s UKHospitality Quarterly Tracker revealed that hospitality was responsible for 40% of the UK’s total economic growth. This is evidence that the reopening of venues upon the easement of lockdown has been the key to Britain’s recovery.
Hospitality was still heavily restricted during the months in question; therefore, the fact that the sector has performed as well as documented is a testament to its importance to the UK economy. These figures demonstrate the industry’s potential to power a wider recovery, now it has been fully unchained after almost 18 months.
The jobless rate has fallen by almost 0.2 percentage points to 4.7% – with another 182,000 jobs added to company payrolls. There are now more employees on payrolls than at any point since March 2020, while the number of people on furlough is the lowest since the scheme launched.
Job vacancies have also doubled since July 2020, reaching 1 million – the highest level on record. There was more good news for the British workforce, as wages jumped 7.4% without bonuses and 8.8% including bonuses. This reinforces the message from employers that where shortages exist, workers can expect to receive signing on fees and retention bonuses.
Footfall is returning to town and city centres as a result of the UK’s vibrant hospitality and leisure sector. While retail has traditionally been the source of traffic for the hospitality industry, in the post-COVID era, it’s likely that this will change – with hospitality being the saviour of town and city centre retail.
With a wealth of experience within the hospitality and retail sector, Targetfollow are pleased to see both successfully emerge from lockdown. The current figures are very promising and we look forward to seeing further economic growth in the months to come.


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Karachi milk price fixed at Rs 80 per litre
The representatives of local dairy farmers, milk wholesellers and retailers in a joint meeting with the Commissioner Karachi resolved the dispute over milk price in the local market.
The sides agreed to fix per litre milk price at Rs. 80 after talks which continued for 14 hours.
The milkmen were demanding for Rs. 84 per litre price but the local officials were insisting to fix the price of the commodity at Rs. 72 per litre. After exhaustive talks the two sides agreed to consensus price at Rs. 80 per litre.
Earlier, the milk retailers had started to sell milk at inflated price of Rs. 90 per litre.
The local administration after the decision, has ordered action against the shopkeepers selling milk on the inflated price.


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The global outbreak of coronavirus is prompting Europe to concede that the time to break dependence on China has come.
Chinese manufacturers and suppliers have shut down factories and offices in an effort to contain the spread of the disease formally known as COVID-19, wreaking havoc on industries including the technology sector and pharmaceutical sector, which have intricate supply chains in the key global hub.
Already, the coronavirus has caused exports from China to plummet: Exports fell by 17.2 percent in January-February compared with a year ago, according to data updated over the weekend by Chinese authorities.
Even as the rate of infection inside China has fallen and shipping from the country's coast is creeping back, the disruption is prompting top European officials to call for a reckoning with the Continent's dependency on China.
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"There will be a 'before' and an 'after' the coronavirus [outbreak] in global economics," French Finance Minister Bruno Le Maire told radio station France Inter on Monday. "We have to decrease our dependence on a couple of large powers, in particular China, for the supply of certain products" and "strengthen our sovereignty in strategic value chains" like cars, aerospace and medicines.
Eurozone finance ministers warned about a "potentially significant impact" on economic growth from the outbreak
Last week, eurozone finance ministers warned about a "potentially significant impact" on economic growth from the outbreak, citing the disruption of supply chains as an important factor.
In the tech sector, the shutdowns have pummelled the market values of some of the world's biggest tech companies, as Apple, Microsoft and Google all grapple with disruption and seek to move at least some of their production out of China, to countries like Vietnam and Thailand. Apple warned its investors last month that worldwide iPhone supply would be "temporarily constrained."
"Unfortunately, there will be broad, global economic effects stemming from this epidemic," said Jason Oxman, president of the Information Technology Industry Council (ITI), a lobby group that represents most of Silicon Valley's largest firms. "While other countries in the region have manufacturing capacity, nothing matches China’s scale or sophistication."
Germany's digital association Bitkom underscored dire consequence for tech firms, estimating in a survey that one in four companies out of 80 surveyed had stopped receiving orders from China, while many also faced issues with suppliers in other countries.
In the midst of an already heated debate in Europe and across the West about over-reliance on Chinese tech equipment, the mounting supply chain problems are fueling arguments for greater independence from Beijing's manufacturing might.
While the prospect of "decoupling" — or the untangling of deeply intertwined supply chain relationships that bind the West to China — seems premature, the virus is prompting a reappraisal of reliance on a single country.
"There is an overdependence on China, and we need an answer to that," Chief Security Officer of Deutsche Telekom Thomas Tschersich told POLITICO. "We need to be willing to invest in Europe to balance out the dependency on China. But we also need Chinese suppliers for balance."
Supply chain security an 'untrained muscle'
The reappraisal comes after more than a year of intense debate about the security risks associated with using Chinese-made equipment in Europe's 5G telecoms networks.
While large EU countries including France, Germany and the United Kingdom have stopped short of banning 5G equipment made by Huawei, European security officials have jointly called on the telecoms industry to limit its dependency on Huawei, which built up a large market share in Europe in the rollout of 3G and 4G.
But even Huawei's competitors, Sweden's Ericsson and Finland's Nokia, are reliant on suppliers in China, including via joint ventures and large-scale manufacturing sites.
As coronavirus disrupts global supply chains, technology players both in Europe and in China have started to take decisions that point to an increased interest in diversifying and decentralizing their supply chain.
Europe's reassessment of supply chains also conflicts with its own open-market ideology, which has dominated the bloc's trade and competition policies for decades.
Nokia has plants in Finland, Brazil and China.
Huawei last week suggested it is diversifying its supply chain too, when it announced it wants to invest €200 million to build a manufacturing site in France — a far-reaching effort to move a part of its supply chain to the Continent as it seeks to alleviate concerns that its gear poses security risks.
European officials are now starting to look beyond Huawei, to the complex global supply chains that feed EU consumers and critical industries.
But Europe's reassessment of supply chains also conflicts with its own open-market ideology, which has dominated the bloc's trade and competition policies for decades.
"This is an untrained muscle in Europe," said Jan-Peter Kleinhans, supply chain security expert at the Berlin-based Stiftung Neue Verantwortung think tank. "We're slowly realizing that if we want to be serious on this, we have to start thinking about [supply chains]."


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The Kenyan shilling has hit a new record low trading against the dollar, after it weakened to 117.01 on Thursday, indicating a continued rally in prices of imported commodities like fuel and cooking oil and pointing to a further dollar shortage crisis.
The depreciation is attributed to increased demand for dollars from importers, especially crude oil and merchandise traders. It is set to increase prices of imported goods and put pressure on the country's debt repayment given that most external debt is repaid in the dollar.
The Kenyan currency has also suffered the strengthening of the US dollar which has appreciated by 6.8 percent since the start of the year, following the recent rate hikes that have made the greenback a safe haven for investors amid global uncertainties following Russia’s invasion of Ukraine.
This has seen the local currency decline 3.5 percent or Sh3.96 since the start of this year amid speculation of further decline.
The continued weakening however is set to hit manufacturers who have raised the alarm of dollar shortage and struggle to settle payments to oversee suppliers on time.
The crisis has triggered a parallel exchange rate market with the firms revealing that they are buying the dollar at more than Sh120 compared to the central bank’s official exchange rate.
A weakening shilling is expected to cause panic buying of the greenback at banks and forex bureaus and hoarding of dollars worsening the crisis.
The Central Bank of Kenya’s Governor Patrick Njoroge has underplayed the level of depreciation and disputed claims on the constraints in dollar supply which has also been tied to capital outflows from advanced and frontiers markets.
“With other African currencies depreciating…we are pretty much in the middle of the park. It is important to note what is happening in the currency market and the strengthening of the US dollar currency because of their stance on quantitative tightening that they have been doing. Those policies have attracted inflows back into the US strengthening its currency as opposed to other currencies that weakened,” said Governor Njoroge.
“It is a play in advanced economies and a play on the dollars and this is why we feel confident about the reasons for our depreciation and also how much it is - level depreciation (at 3.1 percent on May 30),. This is something that not much requires explanation but requires just appreciation of what is being under said.”
He said the market has been pumping in about $2 billion every month, enough to cover the demand.
The country spends billions importing a wide variety of goods, including petroleum products, wheat, second-hand clothes, motor vehicles, vegetable oils and industrial machinery, whose costs are rising as the shilling weakens against the dollar.
These products including those made from imported raw materials are expected to rise in the wake of the shilling weakening.
Kenya Association of Manufacturers (KAM) in April said their members had faced strained relations with suppliers due to dollar liquidity in the market, at a time competition for raw materials has intensified globally due to rising demand amid lingering supply chain constraints.


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India's Tata Motors is Using Crowdsourcing, Allowing the Public to Vote On Future Mobility Solutions
【Summary】Automaker Tata Motors is taking a new approach to develop mobility solutions in its home country of India. Its using crowdsourcing which allows the public to help decide its future mobility path and submit ideas for improving India’s challenging mobility problems.
Automakers and startups building self-driving cars and other mobility solutions normally develop a product, then design it around the way they want their customers to use it, including the ecosystem built around it.
For example, Alphebet's self-driving division Waymo has designed the entire customer experience for its upcoming robotaxi service. Although Waymo asked for feedback from a small group of early test riders, the general public has little control over Waymo's, or any other mobility company's overall plans and launch cities.
Tata Motors, India's biggest automaker, is taking a new approach to develop mobility solutions in its home country. Its using crowdsourcing which allows the public to help decide its future mobility path and submit ideas for improving India's challenging mobility problems.
The automaker launched an engaging crowdsourcing platform called "TACNet IdeaNation." Its primary purpose is to give every single person in the country the power to list problems which they think are existent in the nation's mobility ecosystem.
The platform will allow people across the country to put forward problems and challenges they currently experience getting around. They can also voice their personal experience with the nation's current mobility ecosystem, to spur the development of solutions.
Residents of India experience some of the world's worst traffic. According to Numbeo, which maintains the world's largest database crowd-sourced consumer data in India, 41.2% of commuters in the Capital city of Hyderabad travel by car.
The average commute is around 10 miles (16 km), but takes 42 minutes to complete the trip, representing an average speed of just 15 mph. The data shows that biking the same distance takes about the same amount of time, so there is a need to address possible traffic solutions.
By inviting people to submit ideas and issues they face with mobility through TACNet IdeaNation, Tata Motors will be able to better prioritize which mobility problems the company should work on solving. This includes reaching out to innovators and mobility startups to help solve the bigger mobility challenges the country is facing.
"As a leading Indian automotive brand, we constantly keep innovating for better serving the market, and engaging with our customers and the categories we cater to. Through TACNet IdeaNation, we are creating a platform that allows us to engage and harness capabilities and ideas from everywhere in the country. It is an opportunity for everyone from any part of the country to participate and co-create by providing an entirely new vision for enhancing the country's mobility ecosystem." said Pankaj Jhunja, Head- Mobility Services, Tata Motors Ltd.
Participants can submit their concerns and ideas on https://ideanation.tatamotors.com/index by Feb 3, 2020. Voters do not need to be a resident of India, although its preferred by Tata Motors. The company says that foreign voters should be familiar with the current state of India's mobility ecosystem.
User can visit the website and submit a problem in one of several categories, including, Urban Commuting, Urban Goods, Rural Commute and Leisure Travel. From there, Tata Motors' internal panel will shortlist the problems and compile it down to the top ten issues. This list will then be posted on the IdeaNation website for crowdsourced voting.
Users can vote for the shortlisted problems which they feel are the most relevant and should be prioritized.
After tallying up the votes, the top 3 issues identified will be selected and then presented to aspiring entrepreneurs, start-ups or individuals so they can submit their ideas and solutions to solve them.
Attendees at the Tata Motors pavilion during the Auto Expo 2020, one of India's premiere auto shows, will also be able to cast their vote from the venue. The show runs from February 7-12.
The teams whose ideas are chosen will then be able to develop their mobility solutions with financial support from Tata Motors.
Originally hailing from New Jersey, Eric is a automotive & technology reporter covering the high-tech industry here in Silicon Valley. He has over 15 years of automotive experience and a bachelors degree in computer science. These skills, combined with technical writing and news reporting, allows him to fully understand and identify new and innovative technologies in the auto industry and beyond. He has worked at Uber on self-driving cars and as a technical writer, helping people to understand and work with technology.
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Chinese EV Startup WM Motor Raises $1.5 Billion in its Latest Series D Funding Round
Tesla Wins Defamation Suit Filed by a Former Employee Accused of Hacking at the Automaker’s Nevada Gigafactory
Daimler Trucks Unveils the ‘GenH2’ Mercedes-Benz Fuel-Cell Concept Truck
BMW to Equip Vehicles With Tactical Sensing Software in 2021 With a New Partnership
China’s Baidu Demonstrates its Apollo Robotaxi Without a Safety Driver Using its 5G-Powered ‘Remote Driving Service’
- GMC Hummer EV Could Be Used as a Possible Military Vehicle
- Here's What You Need to Know About the Canoo Subscription-only Electric, Urban People Carrier
- BMW to Double its EV Battery Production in China, Opens a New High-Voltage Battery Center
- BMW to Equip Vehicles With Tactical Sensing Software in 2021 With a New Partnership
- Here’s What You Need to Know About Volkswagen’s All-New Golf eHybrid & GTE
- Tesla Planning a New U.S. Battery Factory as Part of its ‘Roadrunner’ Project
- Hyundai Motor Group and Aptiv Rename Their Autonomous Driving Joint Venture ‘Motional’
- California Governor Signs Executive Order Banning the Sale of New Combustion Engine Vehicles by 2035
- The Lucid Motors Air Sedan Will Be One of the Most Aerodynamic Vehicles Ever Made
- Uber Launches a Grocery Delivery Service in South America & Canada, Will Soon Launch in the U.S.


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Apple Inc.’s reported foray into making its own self-driving, electric cars creates “a new Tesla bear case,” according to analysts at Morgan Stanley.
Tesla Inc. shares fell as much as 5.5 per cent Tuesday, adding to their 6.5 per cent drop on Monday, after Reuters reported that Apple is moving forward with autonomous technology and aims to produce a passenger vehicle by 2024 that could include its own battery design. Tesla’s two-day slump also follows its admission into the benchmark S&P 500 Index before the open on Monday.
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“Apple’s potential entry into autos represents perhaps the most credible/formidable bear case for Tesla’s stock that investors have had to consider for some time,” analysts led by Adam Jonas wrote in a note Tuesday. Jonas gives Tesla a buy-equivalent rating with a US$540 price target, about 15 per cent below where it’s trading currently.


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It has been announced today that the Massachusetts State Lottery Commission has awarded online and offline gaming provider; Scientific Games, with a new contract to provide the provider’s world-beating instant games second chance promotions and digital engagement programs to the Massachusetts Lottery.
The new expanded contract is for a five year period, which will make it five decades of supplying the lottery provider with its suite of instant games, and may be extended by a further two years.
In addition, as part of the contract expansion, Scientific Games will provide the lottery firm with its consumer engagement digital services that are designed to boost engagement through second-chance game features, with the aim of protecting and growing revenues for the Commonwealth.
Senior Vice President of Lottery Instant Products for Scientific Games John Schulz commented on the new contract:
“It goes without saying that the Mass Lottery has been the highest performing instant game lottery in the world for many years and continues to set the bar for lotteries around the globe.
We are extremely proud of the results of this trusted business partnership over the past four decades.
Our 2nd chance and digital services are second to none, and we look forward to further expanding Scientific Games’ services to player engagement in online/mobile channels in Massachusetts.”
The retail and digital gaming provider is currently the primary instant game supplier for the majority of instant games for the Massachusetts Lottery, whereby its products generate around $3 billion in total instant game retail sales each year.
Overall, Scientific Games, a global leader in lottery and casino products, has boosted instant game sales for the Massachusetts Lottery firm by more than ten percent so far in the current fiscal year.
Furthermore, new games available to Massachusetts Lottery customers will be playable via desktop computers and mobile apps, which include integrated digital engagement tools for an enhanced two-way experience. The lottery provider will work closely with the operator on innovative titles such as James Bond Lottery Challenge.
Chief Marketing Officer for Massachusetts State Lottery Commission Ed Farley also shared comments on the deal extension with Scientific Games:
“The combined expertise of the Mass Lottery team and the teams at Scientific Games has resulted in great instant game entertainment that has generated strong revenues to benefit programs in the Commonwealth.
We look forward to continuing this partnership and working to expand player digital engagement.”


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Neiman Marcus Group, showing revenue gains, substantially narrowed its loss for its fiscal fourth quarter ended July 28 to $75.3 million, from $366.3 million in the prior year.
The loss included non-cash impairment charges of $357 million. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $56.1 million compared to $48.2 million in the prior year. EBITDA excludes certain tax payments, adjustments for purchase accounting, changes in, or cash requirements for working capital needs, capital expenditures, and the company’s significant interest expense, and does not reflect the cash requirements necessary to service interest or principal payments on debt. Interest expense was $77.1 million last quarter.
Super-influencer @chiaraferragni doesn't miss a beat— or a party. Last night, she inaugurated Pomellato's newest boutique on Rodeo Drive, decked out in bling from the jewelry brand. At the event, Ferragni took some time to sit down with us to discuss motherhood, being a newlywed, and the hotly-anticipated documentary she is currently filming.
Photographed by @chelsealaurenla
As the conversation around sustainability only grows stronger in fashion circles, Everlane has made a new declaration: it’s saying goodbye to virgin plastic. The company, whose ethos is all about “radical transparency,” in terms of pricing and ethical factories, plans to be completely free of virgin plastics by 2021. “We’re producing millions of units and every unit that goes out is wrapped in plastic,” said founder and CEO, Michael Preysman. “At the beginning, it was like, ‘Hey, let’s just take off all these plastic bags.’ There are a lot of complications to that. Everything you buy in the world comes wrapped in plastic when it comes out of the factory.”
Meet Flamingo. The direct-to-consumer brand is Harry’s first foray into products designed specifically for women. The line goes beyond shaving, venturing into a space that is typically relegated to darker corners of the drugstore — at-home waxing. #wwdbeauty


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The venerable field of audio/visual (AV) packaging is undergoing a renaissance in the streaming age, driven by convergence between broadcast and broadband, demand for greater flexibility, and delivery in multiple versions over wider geographical areas requiring different languages and varying rights.
OTT-based content delivery is quickly maturing as a standard for content delivery across all content types and platforms. In this article we look at what it means to monitor a supply chain when using OTT delivery as a backbone for broadcast content.
Synchronized, an ‘In-Video Intelligence’ service provider, will be showcasing the full capabilities of its Smart-Video platform at IBC 2022, in Amsterdam.
Harmonic and NAGRA are teaming up to improve content protection for live sports streaming with a new watermarking-as-a-service offering.
Streaming dominates media supply chains far more than it did even at the time of the last IBC with a physical presence in 2019.
The concept of leveraging the public Internet as the main infrastructure for widespread distribution of content, both for B2B and Direct-to-Consumer applications, is new to traditional broadcasters that have treated the digital side as a secondary silo to their linear channels, but that’s changing.
Internet streaming is a gamechanger, one that is impacting not just how content is consumed but how content is produced, delivered, and measured. The advent of the digital set-top-box established the foundation for the freedom consumers have today through video on demand (VoD) services. The emergence of the set-top-box as a connected device has now forever changed how content producers and consumers embrace television.
Netflix appears on the verge of introducing measures to curb sharing of passwords by subscribers with friends or others outside their household, after years resisting such a move.
Verimatrix We power the modern connected world with security made for people.Verimatrix (Euronext Paris: VMX) h


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Award recognizes companies that have translated an innovative idea into a valuable and bankable service.
ADmantX, the next-generation contextual analysis and semantic data provider, announced that the company has been awarded the European Seal of e-Excellence in the Gold category for its superior semantic advertising technology. This is the second consecutive year that ADmantX has received this prestigious award, which recognizes ICT and digital media companies with an excellent track record in innovative marketing.
From April to December 2012, more than 100 worldwide ICT companies participated in the European Seal of e-Excellence contest. A jury of investors, entrepreneurs and experts in the ICT field chose the best companies.
Dr. Margaretha Mazura, Secretary General of the EMF commented:
“We currently face a major crisis that can only be overcome if Europe’s economy can grow and maintain its competitiveness globally. It is important that Europe’s digital industries–many of which are SMEs–are recognized for its innovativeness and outstanding growth performance, even under the current hard circumstances.”
“We are honored to be selected for a prestigious European award that promotes the marketing of digital innovation,” said Giovanni Strocchi, ADmantX CEO. “We couldn’t be more proud of our team: this win confirms our dedication to best practices within the online advertising market, and we hope it will support the increased recognition in the value of our unique semantic advertising targeting offer.”
European Seal of e-Excellence
The Seal has been awarded annually since 2003 by the EMF – The Forum of e-Excellence and its partner associations at the yearly seal award ceremony at CeBIT, the European trade show for the ICT industry, held in March 2013 in Hanover, Germany.
ADmantX is a contextual analysis and data provider that offers a semantic, cookie-less solution to allow publishers, ad networks and exchanges, brand managers and agencies to develop more effective online advertising campaigns. There are no privacy concerns: real-time monitoring and the use of sentiment analysis maximize readers’ receptiveness to advertising content and minimizes placement near off-brand content. As a result, ads are more relevant, more accurately placed and brands are protected.


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The Allen Morris Company last week released new renderings for what the lobby and building amenities for Star Metals Offices, the commercial office component of the Star Metals development, could look like.
Star Metals Offices is currently under construction and is expected to be completed by the end of 2020, at 1055 Howell Mill Road.
Atlanta-based Square Feet Studio is behind the design of its interior areas working in tangent with Oppenheim Architecture, the firm overseeing the design of the project as a whole.
“Both the lobby’s and amenities interior design style will be iconic but approachable, incorporating industrial elements representative of the Westside’s history, such as poured concrete and steel, but softened with luxurious fabrics, leather, and woods, all to create a timeless effect,” according to a press release Friday.
“The design does not just imitate the past, but reinterprets it in a new way, further connecting Star Metals to the neighborhood, furthering the iconic Oppenheim Architecture design of the project as a whole.”
The 10,000-square-foot amenity level located on the building’s seventh floor, features an outdoor terrace for shared collaborations and events, along with a boardroom, conference room, covered outdoor seating, as well as a bar and catering kitchen for special events.
Other amenities include a fitness center, a bicycle storage room, a locker room with shower facilities, and a rooftop restaurant and bar.
The 14-story, Class ‘A’ LEED-certified office tower totals 260,000 square feet, including 30,000 square feet of retail and restaurants.
Alongside the office building, Star Metals Hotel, a 166-room boutique hotel, is expected to break ground in 2020.
The 4.75-acre Star Metals project will also include a multifamily residential tower with 409 units and ground floor retail, opening in July 2020.


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Scott Galloway, outspoken academic and expert on big tech, says "Jedi mind tricks" and "consensual hallucination" are responsible for some huge market valuations, and warns Silicon Valley giants will entrench their dominance in the post-pandemic world.
In an interview ahead of his appearance at the Sohn Hearts & Minds investment leaders event next month, the author of The Four backed the Australian competition watchdog's code to force Google and Facebook to pay for content.
"It is time [Google and Facebook] played by a fraction of the same rules that the companies whose content they grab and chop up and monetise for a buck and give you back a nickel," Mr Galloway, an NYU marketing professor, said.
He said the pandemic had undoubtedly played into the hands of the four tech giants: Apple, Amazon, Facebook and Google.
"Whenever there is a culling of the herd, the elephants that survive have more foliage to feed back," Mr Galloway said.
Amazon, he said, "feels like it was invented in central casting for a pandemic", while Facebook and Google would "likely emerge from this pandemic not with 60¢ of the digital dollar, but 80¢".
Retailers could not compete with Amazon's access to cheap and abundant capital and he had told boards that had sought his advice that they faced an existential threat as a result.
"They expect me to spread some magic pixie dust on the desk and talk about innovation and the power of the brand and my basic answer is, 'you can't'."
Mr Galloway recounted how an Australian retailer asked him how it could counter the imminent arrival of Amazon.
"I said, 'you need to increase your lobbying budget by tenfold. You want to keep them off your shores because you will not be able to compete with a company that is willing to lose 10 to 20¢ on the retail dollar'."
While the dominance of big tech was a permanent structural feature of the post-pandemic world, he had his doubts as to whether the increased valuations – measured by multiples of earnings or revenue – were warranted.
Apple's share price, for instance, is up over 50 per cent this year, far outpacing its earnings growth. But the market was rewarding the increased share of Apple's recurring revenue from 10 to 23 per cent, Mr Galloway said.
"Apple has executed a Jedi mind trick and is now no longer thought of as a transactional company but a recurring revenue company," he said.
"The marketplace has decided that companies with recurring revenues are better insulated from these types of shocks, and it has taken their multiple [higher]."
One tech stock Mr Galloway admits he hass got wrong is Tesla, which he calls his "Waterloo".
Tesla was the top performer from the 2019 Hearts and Minds stock ideas, but Mr Galloway has branded the valuation – which exceeds that of the top four carmakers combined – as "consensual hallucination" .
"It's just a car company, it bends steel," he said.
He also believes the rise of the so-called Robinhood day traders that have stormed into the market boosted Tesla's share price.
Another call Mr Galloway said he had got wrong was Afterpay, which has stormed into the United States.
Mr Galloway was of the view that the likes of Amazon and Square, in observing the success of the buy now, pay later sector, would dip into their deeper pockets and muscle out Afterpay.
"To their credit they have executed really well," he said. "We need more companies like that that are innovators and maintain momentum."
Where Mr Galloway has strong conviction is on the need to break up big technology companies and he has advocated an overhaul of anti-trust regulation. Competition had to be fostered in a range of industries, not just tech, he said.
The Australian competition watchdog's code of conduct will order the tech giants to share revenue with media publishers of content that appears on their platforms. That includes Nine, the publisher of The Australian Financial Review.
Journalists went to great lengths to gather information, check facts, avoid publishing misinformation and to remain civil, he said.
"That shit's expensive. If you guys can figure out a way to have information that has veracity, information that doesn't undermine science, information that doesn't tear the fabric of our society, Google and Facebook should be able to do it with what is several hundred times the cashflow.
"If they can't, they need to be regulated."
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IMPERIAL SURVEILLANCE PROTECTS MIDWEST FOODS WITH HIKVISION
by: SDN Staff
DES PLAINES, Ill.— Imperial Surveillance, a full-service security company based here, used video surveillance provider Hikvision USA at Midwest Foods, one of the region’s largest food distributors.
The project allowed the end user to upgrade the existing technology to create a hybrid system and a gradual upgrade to digital without significant capital investment, according to a statement from Hikvision.
The new technology offered by Hikvision also allowed for increased operational efficiencies, enhanced security, and additional cost savings.
When Midwest Foods decided to add IP cameras in key areas, it chose Hikvision’s 3MP EXIR Turret Network Camera, with long-range infrared and three-axis lens adjustment, and Hikvision’s 960H Hybrid DVR and the eight-channel 7608 Embedded NVR with built-in PoE switch for a seamless connection between analog and digital on the production line.
In a prepared statement, Domenic DiPietra, security consultant at Imperial Surveillance, said, “The communications capabilities between the cameras and the NVR are impressive, especially when working with a hybrid system. What’s more, Hikvision offers ‘plug-and-play’ functionality like nobody else, which makes for a smooth and straightforward installation process.”
The new system has prevented theft and given Midwest Foods a more effective way of monitoring food safety concerns, the statement said. Midwest’s strict guidelines guarantee that their products are void of biological and physical hazards. Video surveillance prevents everything from allergen contamination to potential terrorist activity.
“I also appreciate how I can check in on things using an app on my phone,” Dan Tingle, IT manager for Midwest Foods, said in a statement.


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Shares of Orient Paper were falling again today after it was announced that Roth Capital would suspend coverage on the stock pending the results of an investigation into the company. Roth was the one remaining analyst for Orient Paper and the news came as a shock to many investors. Shares of Orient Paper fell more than 17% following the news.
Hutchinson (HTCH) reported a fiscal third quarter loss of seventy nine cents per share, almost 13% worse that Wall Street expected. In the quarter, the company saw revenue weaker than expected as well, coming in at $77.3 million, more than $6 million shy of the consensus estimates. Shares of Hutchinson were down just about 13% following the earnings announcement.
Market News Video produces and distributes online videos about stocks and investing.


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Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
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Amazon is known for having low prices. But a study conducted by a startup called Boomerang Commerce reveals that Amazon's pricing strategy is much more nuanced than simply undercutting the competition.
Boomerang, founded by Amazon veteran Guru Hariharan, makes software that tracks prices on shopping sites that compete with its clients, then recommends price changes dynamically. Those changes are based on rules its clients set about which products to match prices on and which to boost higher or drop lower than a competitor's to boost profits or sales, respectively.
The study of Amazon's pricing uncovered some interesting tactics. First, Amazon doesn't have the lowest prices across the board, which may not surprise industry insiders but might surprise Amazon shoppers.
Instead, according to Boomerang's analysis, Amazon identifies the most popular products on its site and consistently prices them under the competition.
In one example, Boomerang observed Amazon testing price reductions on a $350 Samsung TV — one of the most popular TVs on Amazon — over the six months leading up to Black Friday. Then, on Black Friday, it dropped the price to $250, coming in well below competitors' prices.
But when it comes to the HD cables that customers often buy with a new TV, Amazon actually pushed up the price by 33 percent ahead of the holidays. One reason is that the cables weren't among the most popular in their category, meaning that they have little impact on price perception among shoppers.
Secondly, Amazon most likely figures (or knows) it can make a profit on these cables because customers won't price-compare on them as carefully as they would on more expensive products.
In another example, Amazon priced one of the most popular routers on its site about 20 percent below Walmart's price. But when it came to a much less popular router, Amazon priced it almost 30 percent higher than Walmart did. Again, Amazon knows which products will drive price perception among shoppers.
"Amazon may not actually be the lowest-priced seller of a particular product in any given season," the report reads, "but its consistently low prices on the highest-viewed and best-selling items drive a perception among consumers that Amazon has the best prices overall — even better than Walmart."
Read More Instacart raises $220 million investment
The study was part of a white paper Boomerang released on Tuesday to bring attention to the idea of price perception in e-commerce. The startup has created a "price perception index," which it described as "a numerical pricing model that captures customer psychology of price perception. It does so by providing a tangible statistic of how a company's products … are priced, relative to the competition, weighted by customer interest."
The goal of the index is to highlight how a nuanced approach to pricing — such as Amazon's — can be a smarter, more cost-effective option over simply price-matching across the board. This is where Boomerang enters the conversation: The startup wants to help Amazon competitors think about pricing in as sophisticated a way as Amazon does.
"Amazon is doing it at scale, with what is estimated to be 10 billion pricing changes across the holidays," CEO Hariharan said. "Some retailers are doing it every three months."
CNBC's parent NBCUniversal is an investor in Re/code's parent Revere Digital, and the companies have a content-sharing arrangement.


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Husqvarna, the Swedish two wheeler marque, now owned by KTM's CEO Mr. Stefan Pierer is getting ready to offer entry level dual purpose enduro motorcycles which will be built in India by Bajaj.
Husqvarna which is a specialist in motocross and enduro bikes has been witnessing change of ownerships in the recent past. The brand shifted its base to Italy after it was acquired by MV Augusta. In 2007, BMW Motorrad absorbed Husqvarna only to sell it to Mr. Pierer last year.
With the newly acquired brand, the KTM boss is looking to leverage the synergy with the Bajaj Auto. In an interview with Cycle News, Mr. Pierer revealed that the mid-term strategy is to develop a Husqvarna dual purpose enduro motorcycle. The motorcycle in question will be powered by a single cylinder engine which is being jointly developed by Bajaj and KTM.
The proposed bike is expected to be a hybrid of motocross and supermoto. The only dual purpose (on and off road) motorcycle available in India is the Hero Impulse. The new Husky would be having a bigger engine and would target tourers who look for a versatile naked machine that will feel at home, both on and off the tarmac.
While there is nothing like it available in Indian market as of now, the recently signed TVS-BMW collaboration agreement could roll out a direct rival! The Husqvarna dual purpose motorcycle will harness Bajaj Auto's cost effective component sourcing and manufacturing to come at a competitive price tag.
Just like the KTM Dukes, the Huskies also could be exported from India. Mr. Pierer also clearly stated that KTM and Husqvarna will use individual distribution channels and Bajaj could organize promotional programs for Husqvarna just like the KTM Orange Days.
What an exiting period it is for us bikers!


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Online personal styling service Stitch Fix saw its revenues return to growth for the fourth quarter but still swung to a loss.
The San Francisco-based company's net revenue reach 443.4 million dollars in the quarter, up 11 percent compared to the previous year on an adjusted basis. Its active client base increased 9 percent year-on-year to 3.5 million during that period.
But worse news was that the company recorded a fourth-quarter net loss of 44.5 million dollars compared to the profit of 7.2 million dollars it reported in the same period last year.
For the full fiscal year, the company’s net revenue increased 11 percent to 1.7 billion dollars while its net loss reached 67.1 million dollars compared to a profit of 36.9 million dollars the prior year.
“I'm very pleased with our strong Q4 results and our return to topline growth,” Stitch Fix founder and CEO Katrina Lake commented. “I'm proud of our team for successfully navigating through the deepest impacts of Covid-19 and am excited to bring our model of an individual and deeply personalized shopping experience to even more consumers as they transition to a future of online shopping.”
Stitch Fix president Elizabeth Spaulding added: “We’re particularly excited by the momentum of our direct buy offering. It’s still early days, but the ability to shop personalized items and outfits in our feed-based experience is clearly resonating with our clients.”
Photo credit: Stitch Fix


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Is Verizon Eyeing This Untapped Market?
Verizon Wireless (NYSE:VZ) is reportedly looking to buy the small Canadian wireless provider Wind Mobile, as the country seeks to create more competition within its wireless market that consumers say is too expensive and lacking in choice.
Other major wireless providers including AT&T (NYSE:T) and Britain’s Vodafone have been considered as possible investors, but Verizon is seen as being the most likely buyer. As the number one wireless provider in the U.S., Verizon has enough money and know-how to turn Wind Mobile into a major competitor in the Canadian market.
The Canadian government recently relaxed foreign ownership restrictions on wireless providers in order to stimulate more competition in the country’s wireless market. If Verizon purchases Wind Mobile, it could bring its high-speed 4G LTE network into Canada. Verizon’s size is definitely on its side in the deal. The company’s huge buying power would allow it to replace the Huawei technology used by Wind that has dampened the company’s value. Huawei has been accused of having close ties with the Chinese government, and their equipment is considered to be a security risk.
Verizon’s huge U.S. customer base and buying power to carry high-end smartphones will almost guarantee the company’s success in Canada versus the current three biggest players, Bell, Rogers, and Telus. Up until 2004, Verizon was an investor in Telus, giving it another advantage as it is already familiar with the Canadian wireless market. It has been estimated that Verizon would need to put between $1 and $2 billion into Wind before the company becomes profitable, but having reported $20 billion in revenue in the first quarter alone, Verizon has the cash needed to quickly turn Wind into a competitor.
The only real obstacle to the deal is the recent scandal involving Verizon and the National Security Agency. It was reported by the Guardian that Verizon gives information about its customers’s phone activity to the NSA as part of a court order. Privacy concerns could cause Canadian citizens to be wary of switching to a wireless carrier owned by Verizon.
If the deal goes through, and Verizon builds a 4G LTE network in Canada, it could be just what Canadian consumers tired of high prices and low quality wireless service have been hoping for.
Don’t Miss: Was an AT&T-Telefonica Deal Ever on the Table?


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HINCKLEY, Ill. — Jenny Flint is a self-professed “extreme penny pincher.” That characteristic has served her well, allowing her to buy a small farm in 2012, at age 22. Two years later, she started selling meat off the farm, only months after becoming a new mom.
Growing up, “I used all my savings and birthday money to buy cattle,” she said of her teen years on the family’s farm near Hinckley in northern Illinois.
She built her savings doing chores, bought more cattle, and saved more money.
She started working at Pitstick Farms, a pork operation in nearby Shabbona, Illinois, as a senior in high school. She liked it so much she worked there for seven years, specializing in farrowing.
When she was pregnant, it was time to make a change, and her meat business, Family Farm Meats, was born. She sells out of a converted garage on her farm.
Buying the farm in 2012 was really a homecoming for Flint. She lived here the first 18 years of her life, until her parents, Ron and Rhonda Flint, bought another farm and moved to Maple Park, about 20 miles away.
When the family moved, they sold surrounding land, and put the remaining 3-acre homestead up for sale in 2008. Every time Flint drove past on her way to work, she longed to live on the family farm where she had grown up with three sisters.
“All us girls showed cattle and fed hogs,” she said.
She said she had a good role model in her Grandma Flint, who would drive the stake truck to the elevator and then come home and make lunch for everyone. Her mom also had a full-time job and then worked with their 40-head of cattle. Her dad had a trucking business hauling livestock. She said she was used to seeing people work hard and still have time for family.
So when she was ready to buy the former family farm in 2012, her parents were ready to sell.
What customers want
Now she sells eggs, chicken, beef and pork from her and her family members’ farms. She also sells lamb from a neighbor and turkey at Thanksgiving from producers she knows in Waterman.
“It couldn’t have been at a better time,” she said of opening the business. “People like to know where their meat comes from.”
She keeps adjusting to consumer demand. She had been accustomed to selling halves and quarters. At first she was left with “stacks of ground beef” and was always sold out of steaks.
The cows and calves raised for meat are started on pasture at her parents’ farm in Maple Park, and Flint welcomes her customers to visit the animals.
She raises calves and has two sows for farrowing — still one of her favorite agricultural endeavors. Along with chickens and goats, on the farm this time of year are two big bulls that belong to her parents. When the weather gets nice, they will return to pasture with the cows to do their job.
Buying the farm was a big first step, and she’s getting her footing, growing slowly. She started with four freezers for meat and has 12 now to meet the growing demand.
She recently started selling livestock feed — mostly chicken feed — and hopes to expand that part of her business.
Flint already handles products from other area farmers and would like to expand her products enough to become a “country store.”
“It would be like a year-round farmers market,” she said.
She has hopes of moving from the converted garage to a real storefront on the property. She’s even thought of hosting farm dinners featuring her meat along with vegetables and other products from her neighbors. But, that is just an idea at this point.
Her son Owen, now 4 years old, goes to preschool three days a week, but when he’s home he likes to help with the animals. He gets right in the pen with his own goats. He also likes stacking firewood, his mom said.
Flint credits support from her parents, sisters and other family. She said with Owen and her boyfriend, she is seeing the business she has dreamed of grow.
For other young people wanting to farm, “I would say you’ve got to have dreams and goals,” Flint said. She always dreamed she would raise livestock and sell meat. And now she does.
Find the store online at FamilyFarmMeatsLLC.com and on Facebook.


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In response to a question about the prospects on an AT&T HTC One X Android 4.4 KitKat update, HTC USA claims that the device will indeed get Android 4.2 Jelly Bean but that the company may not roll out anything after the Android 4.2 update and Sense 5, meaning, the prospects of an Android 4.3 update or Android 4.4 update are slim to none.
For months now, we’ve been hearing whispers suggesting that the HTC One X may not get anything past Android 4.2 Jelly Bean and Sense 5. And while nothing is set in stone, HTC USA has seemingly hammered the nails further into the coffin not only for HTC One X owners in the United States but HTC One X owners across the globe.
HTC USA says that as of right now, it does not have any future Android or Sense plans beyond the Android 4.2 Jelly Bean update for the HTC One X. This is the first time that we’ve seen the company offer up this candid information to HTC One X owners and it’s information that unfortunately backs what we’ve been hearing for weeks now.
Of course, the company is quick to leave the door open, saying that if plans do in fact change, that it will let users know. So while the coffin isn’t sealed on an HTC One X Android 4.3 or Android KitKat update for AT&T users, it’s close. If the AT&T HTC One X doesn’t get these updates then we doubt that other HTC One X owners will get the software.
@krsnprvn At this time, we won’t have plans for future OS updates after Android 4.2.2 & Sense 5. If that changes, we will let you know.
— HTC USA (@HTCUSA) November 20, 2013
Sadly, this type of support isn’t unusual given that the HTC One X is going on two years old and HTC typically keeps devices updated for 18 months before killing off support. It’s something that we’ve seen with numerous HTC smartphones and we even saw Google use the same excuse with the Galaxy Nexus Android 4.4 KitKat update.
At this point, all HTC One X owners should be tempering their expectations and start getting used to having Android 4.2 Jelly Bean and Sense 5 on board. Users who aren’t content with this software should be able to lean on the development community, not HTC, for assistance.
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April 23, 2009 |
HONG KONG: Hong Kong billionaire Richard Li's $2.1 billion acquisition of PCCW Ltd was blocked by the city's court of appeal after the regulator claimed investors' votes on the takeover were manipulated. The decision overturned a lower-court judgment on April 6 and may extend Li's five-month battle to buy PCCW, the city's biggest phone company. PCCW said in a statement it was "disappointed" and would study the outcome before commenting further. The bidders have the right...
March 12, 2009 |
NEW YORK: Here is a list of the world's 20 richest people, their wealth, businesses or interests, and countries, according to Forbes magazine's 2009 list: 1. Bill Gates, 40 billion dollars. Microsoft, United States. 2. Warren Buffett, 37 billion dollars. Berkshire Hathaway, United States. 3. Carlos slim and family, 35 billion dollars. Telecoms, Mexico. 4. Lawrence Ellison, 22.5 billion dollars. Oracle, United States.
January 8, 2009 |
HONG KONG: Hong Kong stocks ended the morning 3.7 per cent lower on Thursday after Bank of America and a foundation controlled by tycoon Li Ka-Shing sold stakes in Chinese banks, dealers said.
February 14, 2007 |
MUMBAI: The core is gone; only the shell remains. Hong Kong billionaire Li Ka-shing has made a cool $9.6 billion (pre-tax profit) by selling his most lucrative telecom business to Vodafone for $11.1 billion. But, now there's a big question mark before the future of Hutchison Telecommunications International (HTIL), which owned 67% in Hutchison Essar (HEL). What will Li Ka-shing do with the money? What will shareholders get? What promises of future growth in emerging markets will...
February 10, 2007 |
HONG KONG: Look at this face. The huge forehead, friendly (although slightly sagging) eyes behind large glasses, an innocent smile, loosening skin under the chin, the wrinkles around the mouth and eyes...there ain't much about this face that will remind you of Superman. Yet, people of Hong Kong call this short, balding oldman "chiu yan", that is "superman" in Chinese. They have their reasons too: he is almost invincible. As the bids for Hutch's India operations come in from Vodafone,...


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Despite a week to the contrary, NJ brewers can’t deliver to your house
New Jersey's craft beverage community, left with barren taprooms due to the social distancing provisions of COVID-19, saw a glimmer of hope last week: per March 16’s Executive Order 104, and for the first time, they were allowed to deliver booze to patrons—or so it seemed.
Breweries and distilleries jumped on board. Last weekend, Death of the Fox Brewing Co. in Clarksboro achieved 75 percent of the sales it would achieve on a normal weekend, with 42 percent of those sales being home delivery.
“I had this one guy last week, I showed up to his house with five beers, and he looked like The Dude from Big Lebowski. He said ‘Yes! This is the best! This corona thing is horrible, but beer to my doorstep?’ It kind of put a skip in their step to have something like this,” owner Chuck Garrity said.
Permission for home delivery was “a pleasant surprise, but it made a lot of sense,” Garrity said. “It’s just safer to delivery to people’s houses than having them driving to the brewery.”
Garrity spent two days updating the brewery’s website and marketing.
“There was a lot of effort that went into that,” he said.
But on March 21, the wording in Executive Order 107 changed what was permissible for the sale of alcohol from craft producers.
“All retail sales of alcoholic beverages by limited brewery licensees, restricted brewery licensees, plenary and farm winery licensees (and associated salesrooms), craft distillery licensees and cidery and meadery licensees must be in original containers and must be sold through customer pick up and/or delivered by licensees in accordance with their existing licenses,” it read.
The words “in accordance with their existing licenses” had been added. This changed things.
“It comes down to a rush to make sure everyone stops doing what they’re not supposed to do. Everybody but wineries couldn’t deliver as it is, that’s not something our license provides,” said New Jersey Brewers Association Executive Director Alexis Deegan. “An interpretation of EO104 we thought opened up the possibility to deliver, which was unexpected given the state of our licenses. It was like a boon, like a little present. But with the clearer wording, we couldn’t deliver before, so now we can no longer deliver.”
Members of the craft beverage community expressed disappointment via social media, with some speculating that the move to take delivery away was politically motivated. But according to Deegan, seeing the clarification as taking delivery away is myopic, and it highlights the hurdles that the craft beverage industry feels when it comes to growth and sustainability.
Story continues below the gallery.
“The governor’s office immediately got on the phone with me saying they were looking to find a way within the confines of the law to allow for home delivery. In a 24 hour period, we’ve gone from we can deliver to we can’t deliver to this really highlights the craft production laws in our state right now,” Deegan said.
“I’m hopeful that we can get something going that would allow us an unexpected privilege that can get people jobs, and that would get people back to jobs that had to be laid off, and allow craft producers to do what we do best,” Deegan said.
Time’s a ticking for producers, though. Garrity had to lay off three employees Thursday, and he’s among many. Jersey Spirits owner John Granata said he employs five full-time employees and isn’t currently selling enough to support them.
“Last Monday when they did the shutdown, many if not most distilleries laid off almost their entire staff. We did not, we said we’d keep taking this day by day,” Granata said. “But if we’re not able to give them a good position, we lose good people. We value our staff in a big way. As much as they’re very loyal to us, we try to be very loyal to them.”
At the end of the day, Granata said, it’s not just the tasting room that’s been shut down, but any walk-in traffic that comes through for bottle sales.
“The liquor stores, which is the only place we can sell to, they’re having their own problems. They don’t want people in their stores, so that’s been restricted even more just by circumstance,” Granata said.
Currently, 75 to 80 percent of Jersey Spirits’ ability to sell is restricted, he said.
The Alcoholic Beverage Control and the governor’s office did not return request for comment by press time.


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Lenovo has announced that it will kick off the new year by unveiling a gaming smartphone on the first day of 2022.
As per official teasers from the company on Weibo, as spotted by GSMArena, Lenovo's new gaming smartphone is called the Legion Y90. While the company hasn't detailed its specs sheet yet, it did reveal a few specs of the phone's display on Weibo.
The Lenovo Legion Y90 will pack a 6.92-inch E4 AMOLED screen with a 144Hz refresh rate and 720Hz touch sampling rate.
The panel supports HDR content, and the smartphone will come with a dual-engine air-cooled system for sustained performance.
Lenovo didn't get into the specifics of this cooling system, but a company employee shared a screenshot on Weibo, saying the Legion Y90 will continue playing games at 120fps and remain comparatively cool even after 20-30 minutes of gaming.
With the unveiling still over a week away, people can expect to hear more about the Lenovo Legion Y90 in the coming days, as per GSMArena.
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OnePlus 6 is now again in the rumors, thanks to a new series of renders that show us what should be the final design of the smartphone. Three different colors introduced in these images, including as previous variants have already come in Black and White colored models, and a new Blue OnePlus 6 could be the highlight this year. Apart from revealing the new color options, the leaked renders also detailed a few features that the upcoming handset may come with.
The handset may come with the Alert Slider in red colors, like what we saw in Lava Red and Sandstone White of OnePlus 5T variants. For the rest, now we find the classic elements of OnePlus 6, including a design which completely devoid of side frames, a very thin bottom edge and the now inevitable notch in the upper part. There is also a dual vertical camera, placed in the middle of the rear area, and the fingerprint sensor positioned just below.
OnePlus 6 is seen sporting an edge-to-edge display along with the notch. The company reassured its fans that the smartphone will come with an option to hide the notch as well. There is also red-colored Alert Slider on the smartphone will get a new feature where users will be able to be “Slide to focus with the Alert Slider” on the OnePlus 6.
Recall that OnePlus 6 has not yet been announced by the Chinese company, although OnePlus is certainly not doing anything to hide its existence, given the great media campaign currently underway, which is divided into interviews and a video teaser.
The main specifications of the device should include up to 8GB of RAM and 256GB of internal storage for the top configuration, which is powered by the powerful Qualcomm Snapdragon 845 SoC. The handset also available in 64GB storage will reportedly be priced at CNY 3,299 – approximately $522, the 128GB variant is said to be launched at CNY 3,799 – approximately $601, while the 256GB top-model might set you back by about CNY 4,399 – approximately $696.


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Cannabis giant Aurora Cannabis (ACB) reported its fiscal third-quarter results after market close on Tuesday. With shares skyrocketing nearly 40% over the last five months, investors were undoubtedly watching the medical marijuana maker closely.
By the looks of the stock’s 6% move higher over the past two days, Aurora slightly managed to lift investors’ confidence in the stock. The company posted Q3 revenue of C$65.1 million, which came in below expectations at C$68 million. Furthermore, the company’s EBITDA came out to a loss of C$36.6 million — significantly worse than the C$25.5 million loss analysts were expecting.
Clearly, the numbers came out weaker than what the Street had expected, so why the stock price went up? “The likely outcome is that Aurora stock still spins a bullish market thesis due to global expansion and the further opening up of the domestic Canadian cannabis market. The market likely gives the stock a pass on weak results.” Stone Fox Capital predicted.
BMO analyst Tamy Chen says she remains cautious on the path to profitability, as she reiterates a Market Perform (i.e ‘hold’) rating on ACB stock, while raising her price target to C$12.00 (from C$10.00).
Chen commented, “We are forecasting total volume sold of 17k kg in FQ4/19, implying an 80% q/q increase. While the Canadian market remains undersupplied due to industry production-ramp challenges, the potential for material growth in industry recreational sales beyond existing distribution channels remains unclear over the near term given the limited roll-out of retail stores. Aurora management indicated the opportunity to sell into the existing distribution infrastructure is due to inconsistent supply by other licensed producers of in-demand products (i.e., higher THC and higher CBD) […] We have reset our forecasts based on our revised outlook for a more gradual ramp of industry production, bricks-and-mortar retail store openings, and value-added products.”
Most of the Street is more confident than Chen’s sidelined stance, with TipRanks analytics showcasing ACB as a Strong Buy. Based on 9 Wall Street analysts polled in the last 3 months, 7 rate Aurora stock a Buy, while 2 (including Chen) suggest Hold. The average price target among these analysts stand at C$14.33, which implies 20% upside from current levels.
To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here.
Read more on ACB:


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This highly sought after and prestigious award is given o the winning dealer in recognition of outstanding achievement across service and sales.
This year Don Gulley and the Team at East Coast Commercials Fiat Professional were awarded the trophy for doing everything right, ending the domination of Western Australia dealers.
The service department team led by Roy Moss (General Manager), Neville Wall (Service Manager) and the wonderful team members all worked extremely hard in promoting excellent customer service to every Fiat Professional customer, and especially those transient motorhome customers who relied on us to provide fast and efficient outcomes to get them back on their journey.
Simon Best has been at the helm of sales for over 10 years at East Coast Fiat Professional and always goes above and beyond for everyone of his clients.
The East Coast Fiat Professional Team would like to extend a huge thank you to all of our wonderful customers who have supported us over many years.
Without your support, we would not have been able to achieve this prestigious award.


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The Westfield Stratford City shopping centre was unveiled earlier today (September 13th) following finishing touches that included the installation of pedestrian guardrails.
Many people began queuing outside of the shopping centre very early this morning to catch a first glimpse of what will be Europe's largest urban shopping centre.
In addition to 300 shops, there will be three cinemas, 70 restaurants and the UK's largest casino - all set to become busier ahead of Christmas and the 2012 Olympics.
Mayor of London Boris Johnson said following a visit in 2008 that the site will be "one of the most important legacies of the 2012 Olympics".
He added: "It will create 18,000 jobs and, as a result of Westfield's investment, have some of the most modern additions to London's public transport infrastructure."Parking barriers
were also installed at the site earlier this month as London's 2012 Organising Committee announced it will be stepping up security at the site.
Contact us for a security fencing quote


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Tree House Education that has a total of 302 pre-schools across 37 cities, would buy pre-schooling division of MT Educare
Mumbai: Tree House Education and Accessories Ltd, one of the leading providers of educational services said it signed a non-binding memorandum of understanding with MT Educare Ltd for buying the company's pre-school division comprising six centres at Mumbai and Pune, reports PTI.
No financial details were provided. The transaction will be closed after the usual due diligence, a company statement said.
Commenting on the development, Rajesh Bhatia, promoter and Managing Director, Tree House Education said, "Tree House wishes to utilize company assets more judiciously and we are happy to sign this agreement with MT Educare to acquire its pre-school divisions in Mumbai and Pune. These agreements will help the company in realising more revenue from the leased premises without any additional capital or manpower deployment."
The past six months have seen Tree House create substantial student intake capacity across the country, Bhatia said.
Tree House Education has a total of 302 pre-schools across 37 cities out of which 240 are self-operated.
The new gold savings fund scheme would invest predominantly in units of Canara Robeco gold ETFs
Mumbai: Canara Robeco Asset Management Co Ltd (CRAMC), the investment managers of Canara Robeco Mutual Fund, on Monday launched a fund-of-fund scheme called Canara Robeco gold savings fund, where the customers can invest in gold, reports PTI.
The new fund is an open-ended fund-of-fund scheme, which will invest predominantly in units of Canara Robeco gold exchange traded funds (ETFs), the CRAMC said in a release.
"Given the current global uncertainties, gold is fast becoming an alternate asset with increasing demand from several central bankers and investors globally. In the domestic market too, rising investment demand, increased risk aversion and high inflationary conditions favour Gold as a good investment option for the next few years," Canara AMC investment head Ritesh Jain said.
The minimum investment in the scheme would be Rs5,000 and it is open for subscription till 18th June.
Canara Robeco is a joint venture between state-run Canara Bank and the Holland-based Robeco, which is an asset management specialist.
US-based private equity Warburg Pincus, which bought 53.7% stake in Future Capital Holdings at Rs162 per share, would inject additional Rs100 crore and make an open offer for the company
Mumbai: Kishore Biyani-led Future Group, which has a debt of over Rs5,000 crore, on Monday said it is selling 53.67% stake in Future Capital Holdings to US-based private equity Warburg Pincus to raise around Rs560 crore, reports PTI.
As per the share purchase agreement, Warburg Pincus would inject additional Rs100 crore into Future Capital Holdings (FCH) and also make an open offer under the takeover code of Securities and Exchange Board of India (SEBI).
"This transaction is in line with our stated intention to exit from non-core businesses of Pantaloon Retail and is aimed at deleveraging and further strengthening the balance sheet of the company," said Kishore Biyani, founder and chief executive, Future Group.
Biyani-led Future Group, whose core retail business formats include Big Bazaar, Food Bazaar, e-zone and Pantaloon, has a debt of over Rs5,000 crore.
Pantaloon Retail holds 55% stake in Future Capital. Earlier this year, Pantaloon Retail had formed a high powered 'review committee' with the mandate to consider various options for realignment and divestments.
"As part of the transaction, Pantaloon Retail India and its wholly-owned subsidiary Future Value Retail Ltd will sell its stake in FCH at a price of Rs162 per share to Cloverdell Investment Ltd, an affiliate entity of Warburg Pincus," the Group said in a statement after signing of the agreement.
The share price of Rs162 per share is at a premium of 14% over the prevailing market price.
It further said that V Vaidyanathan, vice chairman and managing director, would continue to head the company. Further Vishal Mahadevia, managing director, Warburg Pincus would be inducted to the Board of Directors of FCH.
As per the SEBI norms, Warburg Pincus will have to make an open offer of 26% to the shareholders of Future Capital Holdings. Open offer provides an opportunity to the existing investors to exit the company.
The board of FCH also approved a preferential allotment of shares to Warburg Pincus worth Rs100 crore.
"We welcome the investment of Rs100 crore of incremental Tier-I capital into the company. The company is poised to grow in the MSME space," Vaidyanathan said.
Morgan Stanley acted as the lead financial advisor to Pantaloon Retail and Future Value Retail. Enam Securities acted as the co-advisor to Future Group.
For the fiscal ended March 2012, Future Capital Holdings reported a net profit of Rs105.8 crore, a jump of 115% from Rs49.1 crore in the year ago period. Its asset base stands at Rs4,700 crore.
The company, formed in 2007, provides consumer and mortgage loans. Its asset quality has improved during the last fiscal with the gross non-performing asset ratio dropping to 0.08% from 0.25% a year ago.
Warburg Pincus manages assets worth about $40 billion globally and has also invested in Indian companies across sectors.
At 3.17pm, FCH was trading 4.4% higher at Rs143 and Pantaloon Retail was 7.3% up at Rs148.95 on the BSE. In the intra-day trade, FCH shares jumped 9.45% to a high of Rs149.95.


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The Department of Agriculture, Forestry and Fisheries has advised all international travellers visiting South Africa to comply with the country’s import requirements for agricultural and related regulated products.
“Compliance will assist our country to minimise or prevent the potential risk of introducing alien invasive species, foreign pests and diseases that could be associated with imported plants, plant products, animals, animal products and other regulated goods,” the department said in a statement here Thursday.
It added that South Africa, like other countries, had a crucial mandate and right to protect its territory, biodiversity and economy against harm. The country regulates the importation of animals and animal products, liquor products, plants and plant products, honey and honey products, as well as any other potentially harmful materials from other countries into its territory.
This is in accordance with the country’s relevant legislation, which is aimed at preventing the introduction, establishment and spread of pests and diseases from other parts of the world.
“Once introduced into the country, the said elements are expensive and difficult to control, thus prevention is pertinent in this regard. Furthermore, the importation of certain liquor products, with an alcohol content of more than 1% into the county for drinking purposes is restricted, except on the authority of an import certificate issued by the department,” the department said.
It noted that import conditions might differ according to the country of origin or export. Upon arrival in South Africa, all the imported consignments must be presented to the department’s inspectors at the port of entry for compliance inspections, in compliance with import conditions.
Source: NAM NEWS NETWORK.


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SANTA CLARA, Calif.–At the Flash Memory Summit conference Aug. 9, attendees were observed actually scratching their heads and wondering, “How is that possible?”
The object of their incredulity was a monstrous 60TB solid-state hard drive introduced by Seagate Technology. This is a rather precipitous leap in capacity, to say the very least, from the previous record-capacity SSD, which is a 2.5-inch, 16TB unit released a year ago by Samsung that costs $7,000.
Seagate said the drive, officially called the 60TB Serial Attached SCSI (SAS) SSD, is the largest-capacity solid-state drive ever demonstrated—and it would be impossible to argue that fact.
The 2.5-inch SSD is currently in demonstration mode only. Production and distribution of the drive isn’t expected until sometime in 2017, Seagate said.
Holds 4X More Content Than Previous Record-Holder
Pricing, as one might expect, is undetermined at this time. Because it holds nearly four times more content than the 16TB SSD Samsung now markets, will Seagate price it at $30,000 or more? We’ll find out at some point.
The 60TB SAS SSD features twice the density and four times the capacity of the next highest-capacity SSD available today—the aforementioned Samsung drive. Its capacity is theoretically enough to accommodate some 400 million photos on a typical social media platform, 12,000 DVD movies or at least a zillion text documents.
It will be interesting to see Samsung’s answer to this. Hard drive and SSD makers typically hop over each other about once per year in the capacity category. But going from 16TB to 64TB or 72TB would be one rather lofty jump.
Seagate’s 60TB SAS SSD also simplifies the configuration process of accommodating “hot” and “cold” data, enabling data centers to use the same enterprise HDD 3.5-inch storage form factor. This, Seagate said, eliminates the added step of separating different types of data for near-term availability versus long-term storage based largely on estimations or best-guesses of future data usage.
Instead, data centers can rely on an SSD that helps address their need to accommodate and ensure accessibility of ever-increasing large amounts of data without having to add servers or incorporate additional management steps. Because of the drive’s flexible architecture, the company said, it also provides a pathway for data centers to grow from the current 60TB capacity to accommodate 100TB of data or more in the future—and all in the same form factor.
Seagate Also Debuts New Data Center Drive
Also on Aug. 9, Seagate unveiled a new drive aimed specifically at data centers: the 8TB Nytro XP7200 NVMe SSD. This one is designed to accommodate the hyperscale needs of new-generation data centers seeking to grow storage of data without losing the ability to quickly access and process it.
This is a scenario commonly seen in applications involving high performance computing, scale-out databases and big data analytics, such as scientific research and weather modeling.
The Nytro features a single PCIe interface for high-speed data transfers; it also has four separate controllers that provide processing power up to four times faster than comparable drives but without the higher cost, power levels and latency required from a PCIe switch or bridge.
Applications can process more transactions faster using the industry’s highest bandwidth through one PCIe slot, without having to invest in more hardware. The Nytro integrates into all-flash system arrays, Seagate said.
The 8TB Nytro XP7200 NVMe SSD is slated to be available through channel partners in calendar Q4 2016. Availability of the 60TB SAS SSD is anticipated for 2017, Seagate said.