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The Cayman Islands Monetary Authority has issued an advisory on the potential risks of investments in initial coin offerings, or ICOs, and all forms of virtual currency.
ICOs are a form of fundraising in which a startup company creates new virtual coins or tokens and sells them to the public to raise capital.
Customers should thoroughly research virtual currencies, digital coins and tokens, and the companies or entities behind them to separate fiction from fact, Cayman’s financial regulator said.
While the recent publicity surrounding virtual currencies – such as Bitcoin or Ripple – and initial coin offerings presents a tempting picture of high returns on investment, they also have a high potential for financial loss and fraud, CIMA advised.
Unlike a share offering, ICOs do not provide any ownership rights in the company, nor are they a loan to the company. In addition, ICOs are frequently unregulated and tend to involve complex, new technologies and products.
Moreover, if regulators consider an ICO in breach of local securities laws, the value and usability of the sold coins or tokens could be severely impaired.
As a result, investors can lose some or all of the money they invest, CIMA noted.
Other risks associated with ICOs and virtual currencies highlighted by CIMA are the potential for incomplete information, exaggerated expected returns, price volatility, limited opportunities to resell the virtual currency, hacking attacks, fraud and limited regulatory protection.
The regulator warned that there have been several documented cases internationally where the money raised through an ICO disappeared without a trace. Tracking the funds is made difficult when fraudsters use multiple servers in different countries in combination with tools that mask the true Internet Protocol (IP) address of the users. Founders and promoters of these frauds have also operated under false names.
Investors should be aware of red flags, the regulator advised, including claims of endorsements by CIMA; limited information about the investment, the project or the development team; aggressive marketing and pushy promoters; the alleged involvement of celebrities or well-known investors with the project; and promises of quick, large returns.
“The best protection for [investors] is to only purchase virtual currencies, digital coins, or tokens that they have thoroughly researched,” CIMA said.
The regulator also reminded investors that virtual currencies are not legal tender in Cayman and that CIMA as a rule does not endorse investment products or companies.
Victims of a fraud involving virtual currencies should contact the Financial Crime Unit of the Royal Cayman Islands Police Service immediately at 649-8797. For a list of entities regulated or supervised by the Cayman Islands Monetary Authority, visit www.cima.ky.


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Tesla starts delivering its first China-made Model Y crossovers
The Shanghai plant was built in juat a year.
Automotive giant Tesla marked another milestone as it started delivering Shanghai-produced Model Y crossovers in China.
State-run Xinhua News reported the deliveries of the crossovers started last January 18, however, it wasn’t declared as to how many models were transported. Tesla also did not disclose if the models were delivered to employees or directly to retail customers.
The company earlier expressed its vision to raise up its vehicle sales volume from more than 500,000 in 2020 to about 20 million annually in 10 years.
Tesla delivered over 499,550 vehicles in 2020, marking 36% increase from the previous year. This growth has been backed by retail in China, the world’s largest electric-vehicle market.
The company’s factory in China, the first plant outside the US, started manufacturing Tesla Model 3 sedan back in 2019. Direct deliveries to Chinese buyers began over a year ago, at the time when Tesla CEO Elon Musk has become the richest person in the world.
The two billion-dollar Shanghai plant was built in just a year, unusually rapid for a global automotive industry player. Lower shipping costs and fewer import duties and delays were the main reasons why most giant automakers establish local vehicle production across the globe.

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· ECB warns European banks may need more bad-loan provisions.
· Retail sales grew more than expected in Mexico during September (2.7% monthly vs 2%e.).
· 33.1% growth was confirmed in the US economy during the 3Q20.
· Economic indicators: Jobless claims in the US surprise to the upside for a second consecutive week (778k vs 730k e.).
The European Central Bank published its Financial Stability Report, in which it assured banks in the region they should increase bad-loan provisions in order to buffer for potential credit losses once government aid given because of the pandemic comes to an end. According to the ECB, the provisions are less than those seen in other crises and those seen among US banks as a result of the low profitability among European banks and lower credit risk after liquidity injections were carried out. The concern is regarding difficulties to pay off acquired credit; which could put pressure on banks. The ECB is worried about the exaggerated appraisals of some financial assets as well as the latent risk of seeing important corrections among these assets` prices in case the pandemic lasts longer than expected or has more adverse effects than anticipated. The ECB`s warnings replicates those of the FED and the IMF regarding risks in the financial system. Lastly, the immediate financial risks of a possible disorderly Brexit are mostly contained for the ECB once the European Commission has allowed clearing houses in the UK to temporarily access the European market for the settlement for derivative transactions.
INEGI figures confirm a 2.7% monthly expansion in retail sales during September, figure above the 2% estimated by the consensus. With this, retail sales remain (-) 8% below what was logged in the same month of 2019. Sales linked 5 consecutive months of expansion and send a signal of a persistent recovery in consumption. Revised GDP figures for the 3Q20 will be published tomorrow as no important changes are expected regarding the estimate (12% quarterly; -8.6% annual).


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First look: 72.8m Feadship superyacht Project 705
Feadship's 72m/ 236ft motor yacht 'Project 705' emerged from the outfitting shed in Aalsmeer this morning, unveiling a midnight blue hull.
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Experienced Charterer Builds Family Friendy 73m Feadship Superyacht HASNA
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Another luxury hotel is set to enter metro Detroit.
The Royal Park Hotel in Rochester is scheduled to open Sept. 1, and already is booking for the Ryder Cup, which begins Sept. 14.
However, the opening of a four-star hotel may spur competition with the area's other top-notch hotels, including Birmingham's Townsend Hotel and The Ritz-Carlton, Dearborn.
Investors expect the Royal Park to bring in about $12 million in revenue in its first year, said Greg DeSandy, the hotel's director of sales and marketing.
About 30 shareholders make up MWS Group Ltd., the Royal Park's investment group.
Willard McCardell, president of Rochester-based Innatech, is the major shareholder. Roy and Frank Rewold, both of the Rochester-based commercial-building contractor Frank Rewold & Son Inc., also are part of MWS Group.
Royal Park Managing Director Tony Torbati said the $44 million hotel's amenities, which include bocce ball courts and a glass conservatory, ensure his hotel will take its share of the market.
However, other factors will help determine who takes the lion's share of clientele looking for luxury accommodations.
Detroit's dependence on manufacturing has left it behind the rest of the Midwest in economic recovery, and how quickly it recovers will affect the hotel's success, said Peter Wilde, managing director of the Townsend.
"There is more competition in a market that doesn't have a lot of demand," he said. "The issue is when it opens up, is there going to be increased demand in the market to make it so both hotels can thrive?"
Chuck Skelton, president of Ann Arbor-based Hospitality Advisors, said the occupancy rate for all metro Detroit hotels is 54 percent, a 25-year low. However, he said the hospitality business in Southeast Michigan, which has been in recession about four years, has nowhere to go but up.
"We are starting to come back now. Typically, the other three times we have had turndowns, we have come out more aggressively than most markets."
He said for the Royal Park to make a splash in the area, it will have to be better than the other hotels.
"They have to be able to compete in what is not a deep market. They are going to have to be significantly better not only in the quality of the property, but also in the quality of the service."
Torbati said the Royal Park will become an elite hotel through its service.
"We will exceed their expectations in interacting with the hotel staff. Guests will have a memorable experience with the hotel. Not only that they will come back, but that they will tell their friends that we are the place of choice. Every customer will be wowed by the actual attention to detail. The product will speak for itself," he said.
Hospitality Advisors did the marketing research for the Townsend in the early 1980s, and Skelton said one of its strengths was its location in Birmingham, "in the heart of it all." He said Rochester will be the center of growth in the coming decade, but he questions whether it has enough appeal to work now.
"Whether Rochester is located geographically appropriately for that to attract that level of demand, I don't know. I think until the auto companies are healthy, that's when you will see a rebound on that high end."
From a marketing standpoint, the Detroit area has a shortage of top-level hotels, said Brad Van Dommelen, senior vice president with the Detroit Metro Convention & Visitors Bureau.
Van Dommelen said he doesn't look at individual hotels or judge the market on whether there is enough demand to fill each hotel, but rather what will attract more dollars to the region.
From this point of view, he said, the creation of the Royal Park can only help to squelch one of the bureau's most-received complaints: There are not enough luxury hotels in the area.
"One reason we do have a deficiency is the four-star type properties. We are heavily skewed in the two-, three-star properties. It helps round out the full complement of options we can present. Clients are interested in the types of hotels and services there are. ... They wish we had more high-end properties in the market."


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Cultural, gender, and economic divisions are evident among those that approve of the availability of graphic images and those that don't, as millions of Internet users actively search for the disturbing photos and videos.
What Americans are not seeing in the mainstream media they are finding online, according to research from The Pew Internet & American Life Project that reveals the Internet is becoming a source of graphic or disturbing images. Recent events in Iraq, such as murder, prison abuse, and graphic depictions of wartime, have been widely available online, and, in some cases, Internet users are seeking them out.
Roughly 30 million Americans – or 24 percent of adult Internet users – have seen graphic war images online, with 8.4 million actively looking for the pictures or videos. The surge in disturbing image searching has been illustrated in the popular search terms of the week as serious topics have become interspersed throughout the references to pop culture. In fact, the Yahoo Buzz Index for the week ending July 4, 2004 listed "American Beheading Video" as the 12th most popular search term.
The Pew report identified cultural, gender, and economic divisions among those that approved or disapproved of the availability of disturbing online images, with the largest disparity seen between men and women.
"...while there's definitely an appetite (perhaps an unpleasant word) for seeing the most graphic images, that [interest] comes from a somewhat rarified group – Internet users, men, younger, higher socioeconomic group," remarked Deb Fallows, Pew Internet Project senior research fellow and author of the report.
|Reactions to Graphic Images Online|
|Group||Approve the display of the images online||Disapprove the display of the images online|
|Under age 30||52%||41%|
|Over age 30||37%||51%|
|College grad or higher||47%||43%|
|HS grad or less||34%||55%|
|Household over $50k/year||52%||40%|
|Household under $50k/year||35%||55%|
|Source: Pew Internet & American Life Project|
Survey respondents were nearly split on whether or not newspapers and television should show war images to the public, with 47 percent saying that the images should be shown, 41 percent saying they shouldn't be shown, and 7 percent saying that it depends. Whether the demand provides the incentive to show the images in the mainstream media remains to be seen.
Fallows says that the networks and cable especially are probably struggling with this issue. "If I were looking at our data from their [network and cable] perspective, I'd notice that Americans at large (including both Internet users and non-Internet users) are much more comfortable with the traditional, familiar standards of the mainstream media (TV and newspapers) than they are with the (lack of) standards of the Internet."
Of the 2,200 respondents to the May through June 2004 survey, 76 percent saw images of Iraqi prisoners of war being abused by American soldiers; 60 percent saw images of American civilian Nicholas Berg, held hostage and murdered in Iraq by Islamic terrorists; and 52 percent saw images of American contractors killed in Fallujah.
Just over half (51 percent) of those who viewed the images felts that had made a good decision, while 33 percent expressed regret. Another 7 percent were conflicted, feeling that it was a good decision but they wished they hadn't seen them.
Fallows noticed that while there's not all that much comfort with the images that are being covered by the mainstream media, there's also a lot of discomfort once people have viewed the images online.
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March 19, 2014


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Volatility struck bourses in early trade as the key benchmark indices reversed initial losses triggered by negative Asian stocks. At 9:32 IST, the barometer index, the S&P BSE Sensex, was up 34.49 points or 0.1% at 36,274.11. The Nifty 50 index was up 8.55 points or 0.08% at 10,955.80.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 752 shares rose and 647 shares fell. A total of 61 shares were unchanged.
Overseas, Asian stock markets fell after the Trump administration announced it plans to slap tariffs on a further $200 billion of Chinese imports. US stocks had climbed in the regular trading session yesterday, 10 July 2018 as investors focused on the start of earnings season.
The Trump administration pushed ahead with plans to impose tariffs on an additional $200 billion in Chinese goods by releasing a list of targeted products. The 10% tariffs could take effect after public consultations end on Aug. 30. The proposed list of goods includes consumer items such as clothing, television components and refrigerators as well as other technology products, though it omitted some high-profile items like mobile phones.
Earlier, the Trump administration on July 6 imposed 25% duties on $34 billion in Chinese imports. The first round of tariffs covered Chinese products ranging from farming plows to machine tools and communications satellites. China immediately retaliated with duties on the same value of US goods, including soybeans and cars and has promised further retaliation too.
Back home, IT major TCS gained 1.9% after consolidated net income rose 6.3% to Rs 7340 crore on 6.8% increase in revenue to Rs 34261 crore in Q1 June 2018 over Q4 March 2018. The result was announced after market hours yesterday, 10 July 2018.
Commenting on the Q1 performance, CEO and MD, Rajesh Gopinathan said the company is starting the new fiscal year on a strong note, with the growth engine firing on all cylinders. The firm's banking vertical recovered very nicely this quarter, while other industry verticals maintained their momentum. With a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand, TCS is positioned well for the future.
Axis Bank rose 0.32%. Axis Bank said that its board has recommended the names of three candidates, in order of preference, for the approval of the RBI. The candidate as approved by the RBI, will succeed Shikha Sharma, whose term as the managing director & CEO of the bank, is due to expire on 31 December 2018. As mandated under the extant RBI norms, the bank will be submitting its application in respect of the recommendations relating to the said appointment, for the approval of the RBI. The announcement was made after market hours yesterday, 10 July 2018.
Shalimar Paints jumped 9.2% after the company said that its board approved the draft letter of offer of the company and related documents in respect of the proposed rights issue not exceeding an amount of Rs 240 crore. The board also approved re-establishment of Nashik plant of the company and establishment of new Regional Distribution Centre (RDC) at Nashik plant. The announcement was made after market hours yesterday, 10 July 2018.
KEC International advanced 2.5% after the company said it has secured new orders of Rs 1357 crore across its businesses. The announcement was made after market hours yesterday, 10 July 2018.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


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In her first appearance on an Indian talk show, the flamboyant pop diva said, “I have seen a few Bollywood films and I love how theatrical they are, and that’s my favorite part – that they are so surreal and full of fantasy.”
She was a guest of India’s Most Desirable that airs on News Corp.’s Star network channel Star One, hosted by 64-year-old former actress Simi Garewal.
Adding that she loved Bollywood for “its heightened sense of reality and surreal genius,” Lady Gaga said she was looking forward to coming to India in October, which could see the 25-year-old star on a promotional visit getting to know some of Indian filmdom’s reigning stars in addition to sampling Indian cuisine.
“I love Indian food. I love spicy curry. I used to eat Indian food in New York,” she told Garewal in an hour-long interview pre-recorded in Singapore that aired Sunday, in a departure from the celebrity talk show host’s usual style of inviting guests to interact with a Mumbai studio audience.
“She had 15 interviews lined up the day I interviewed her and she changed her hairdo and makeup for every single one of them,” Garewal told her audience.
Dressed in black with a neon green hair-do, fashion icon Lady Gaga complimented Garewal – a veteran Bollywood actress turned TV presenter who usually dresses in white — for her fashion sense, “You are so stunningly gorgeous. We all gasped when you walked in.”
Referring to recent local reports about Lady Gaga not doing a concert in India over monetary issues, Garewal said that was untrue and that Lady Gaga “was sad at the reports because money has never been a criterion for her.” As the singer said in the interview, “I don’t have money – whatever I have I spend on my shows.”
But despite her global stardom, Lady Gaga confessed, “I’m lonely and married to loneliness… But artists are supposed to be lonely.”
Garewal also gifted the Grammy-winning star a lehenga – a traditional gold and sequined Indian skirt — and a DVD of some popular Bollywood songs by top choreographer/film-maker Farah Khan, who has choreographed Bollywood-inspired performances for Shakira and Kylie Minogue. “Oh my God I would love to see this!’ said Lady Gaga. “I’m going to watch this tonight!’”
Meanwhile, unconfirmed reports indicate that another talk show Koffee With Karan – hosted by top Bollywood director Karan Johar which also airs on the Star network – could feature Paris Hilton in an upcoming episode.
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And Constellation's earnings report on Friday (June 28) proved us right. The earnings report ignited a 6% surge in the stock, which jumped from $185.54 to $197.18 a share.
That's nothing outlandish, but it follows a pattern we've been tracking for a good while now: Constellation Brands keeps stretching Wall Street's imagination. That's because the $38 billion alcoholic beverage company isn't content with imported beer; it's branching out into the fast-growing cannabis sector, which is projected to be worth $66.3 billion by 2025.
And the results are already starting to show.
Constellation managed to deliver $2.21 earnings per share in Q1 2019, beating some estimates by 6.8%. It also posted surprise earnings in the previous quarter, beating expectations by 7.6%.
The report also shows Q1 revenue increased 2.5% year over year. The company lost significant cash flow from investing activities over the last year - namely its $4 billion Canopy Growth Corp. (NYSE: CGC), which just fired CEO Bruce Linton over a bad fourth quarter. But it also had 18% more net cash from operating activities since last year. Plus, Constellation has high rebound hopes for Canopy, and we agree.
And there's plenty of reason to believe that even Wall Street's current $233 share price target is not generous enough. Wall Street has yet to fully appreciate the growth potential of Constellation Brands.
LEGAL WAVE: Barriers to marijuana could be tumbling in Mexico and Thailand, but it's here in the U.S. where legalization could spark a "Green Rush" in certain stocks. Click here to learn about three of them...
This stock has grown 20% in the last six months, and Wall Street projects it will grow another 46% with a high target of $288. That'll register as 66% growth in the next 12 months.
Today, the stock sells at 12.71 times earnings in an industry that averages above 19.56, a sign of massive headroom for growth. So we think this is just the start for STZ, even with Canopy Growth's underperformance.
Constellation Brands CEO Bill Newlands announced that Constellation was unhappy with Canopy's recent year-end report shortly after its Q1 earnings report. Constellation owns a 38% stake in Canopy, so it wasn't pleased with Canopy's $245 million in losses.
That's what made last week's headlines. But the fine print said Constellation was still optimistic about Canopy's future, as are we.
Despite net losses, Canopy actually increased net revenue in 2018 for having acquired the German vaporizer company Storz & Bickel, a move praised by Constellation CFO David Klein.
Constellation still anticipates $1 billion in annualized revenue from Canopy at the end of the current fiscal year.
And we're still approaching the biggest catalyst of all for Constellation: cannabis legalization.
Constellation Brands Stock Is Riding the Cannabis Revolution
[mmpazkzone name="in-story" network="9794" site="307044" id="137008" type="4"]
ArcView Market Research reported the recreational marijuana market in North America will grow from $4.2 billion in 2018 to $14.9 billion in 2021.
That's 255% growth in just four years. And Constellation is reportedly pursuing a line of cannabis-infused beverages, a market expected to grow 147%, worth $1.4 billion by 2024.
It's a big reason one of the marijuana industry's largest bulls by market cap, at $37.84 billion, doesn't seem to be flinching at the market's minor ebbs and flows.
The cannabis wave is just too great. And Constellation has yet to be proven wrong.
The Money Morning Stock VQScore™ system also flagged STZ as a breakout stock. This is a proprietary system that finds stocks ready for a price jump. And Constellation Brands has a perfect 4.75 VQScore, meaning its earnings per share is accelerating.
This stock has seen a gradual climb recently, but it's ready to break out even further. You can thank all the global trade hubbub for putting it at a discount.
Did You See John Boehner's SHOCKING Marijuana Prediction?
At the American Cannabis Summit - the first-ever nationwide event for cannabis investors - former Speaker of the House John Boehner revealed why he's going ALL IN on marijuana... and exactly how ordinary Americans can make a fortune from this hundred-billion-dollar industry. To see a special rebroadcast of this historic event, click here.
About the Author
Mike Stenger, Associate Editor for Money Morning at Money Map Press, graduated from the Perdue School of Business at Salisbury University. He has combined his degree in Economics with an interest in emerging technologies by finding where tech and finance overlap. Today, he studies the cybersecurity sector, AI, streaming, and the Cloud.


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First Niagara opens temporary Main Street branch in Buffalo
First Niagara Bank’s temporary retail branch on Main Street is now open to customers Monday through Friday, the Buffalo bank announced this morning.
The office at 1031 Main Street in Buffalo replaces the soon-to-be-demolished branch at 973 Main Street. Hours of operation are 9 a.m. to 4 p.m. Monday through Thursday and 9 a.m. to 5 p.m. Friday.
The branch will employ all seven workers from 973 Main Street. It is equipped with an ATM that’s accessible from the street. Parking is available in the lot behind the building or on the street.
First Niagara plans to operate the branch until a new branch is ready within Ciminelli Real Estate’s forthcoming $100 million Conventus building, whose tenant list includes Kaleida Health and UBMD.
First Niagara closed the branch at 973 Main Street on July 5. The office sits on a 0.8-acre parcel upon which the University at Buffalo plans to build a new medical school.
First Niagara is selling the lot to UB for $1. UB is scheduled to break ground for the new building this fall.
Allissa Kline covers financial services, accounting and trade
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Beverage distributor Alcobrands continues expansion of their brand portfolio with the distribution of two premium vodka brands, Russian Standard Vodka and Żubrówka starting 1 April.
Russian Standard Vodka is the world’s number one premium Russian vodka with global sales of over 3.4M 9Llt. Żubrówka, the Polish vodka with over 500 years of heritage, is the world’s fastest growing vodka brand and the 3rd biggest vodka brand in the world.
Jonathan Ashworth, managing director of EMEA for Roust, comments: “We are consistently ranked as one of the fastest growing spirits companies in the world. With Alcobrands we found the same drive and passion to outperform market trends and challenge industry boundaries. Russian Standard Vodka andŻubrówka are our flagship vodka brands and are set to see significant growth in the Benelux markets.”
Dirk Boeckx, managing director of Alcobrands adds: “I believe that as a company we have a strong momentum based on brands and people. This new addition of two of the world’s leading vodka brands will enhance our portfolio strength and our ability to become one of the leading independent distributors in Benelux.”


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Posted by Shirley Brady on April 1, 2012 12:01 PM
In a bid to outdo last year's April Fool's Day jokes, a few April Foolin' Around branded fake gags today include:
• Richard Branson's next adventure, Virgin Volcanic, will take the intrepid billionaire to the center of the earth with Tom Hanks;
• in addition to really advanced search and Google TV Click, perennial prankster Google brings its self-driving car to NASCAR racing (above) and, below, announces Morse Code-based Gmail Tap (double your typing speed!) with LL Cool J, plus 8-bit Google Maps for the neglected Nintendo Entertainment System, and more:Continue reading...
Posted by Dale Buss on February 6, 2012 08:58 AM
BMW faces snafu in Europe marketing a Mini cold front.
Boeing checks 787 Dreamliners for possible delamination.
Eli Manning's star rises with second Super Bowl win, edging personal brands of brother Peyton and rival Tom Brady.
Facebook is challenged by monetizing mobile.
Ford says majority of big-market dealers are on board for investments in Lincoln brand.
GM aims for $10 billion in annual profit.
Goldman Sachs CEO Lloyd Blankfein emerges as corporate spokesman for same-sex marriage.
HP nods toward activist investors.
Honda pulls forward major changes to struggling Civic this fall.Continue reading...
Posted by Dale Buss on January 19, 2012 03:58 PM
Small cars are facing big problems these days.
Mini this week announced a global recall that impacts 89,000 of its cars in the United States, including its Mini Cooper line, and 235,000 worldwide because of faulty water pumps that can malfunction and have caused some engine-compartment fires. Mini parent BMW is trying to reassure consumers that the move is preventative. Indeed, Mini's documented problem — five of the fires reportedly destroyed cars actually being used by their owners — far eclipses the fire problem in the Chevrolet Volt that has so weighed down that brand lately.
Beyond that speed bump, Mini these days is achieving exactly what the BMW-owned brand has wanted to achieve in the American market: reigning as the undisputed champion of the tiny-car segment, holding off the likes of Smart, Scion and even Fiat.Continue reading...
Posted by Dale Buss on January 17, 2012 08:50 AM
Adidas taps Katy Perry for new campaign.
AFL-CIO launches image campaign.
Airbus posts record sales.
American Airlines stops flying to India, sacks 150 workers.
AOL leads companies testing crowdsourcing.
Apple expands iTunes Match, reportedly preps interactive textbooks for the iPad, while pre-earnings valuations vary.
BASF halts its genetically modified products in Europe, including its Amflora potato.
Beats Electronics breaks up with Monster.
Beyonce accused of skin-lightening in album promotion, gives first post-baby interview.
BlackBerry-maker RIM criticized by analysts for PlayBook incompatability.
BMW recalls 89,000 Mini vehicles.
Burberry quarterly profits jump 22%.
Carnival faces heat in wake of Italy shipwreck, its worst accident in 40 years, as environmental fears mount and cruise industry is rocked.
M&M's will introduce a sixth candy character — Ms. Brown — in its Super Bowl commercial, while Kia plans 60-second commercial with Adriana Lima and Motley Crue, in keeping with trend to longer Super Bowl spots.Continue reading...
Posted by Dale Buss on January 13, 2012 11:04 AM
If there is one thing that has characterized the renaissance of Chrysler over the last three years, it is an insistence by the company's leadership to ignore the doubters and forge ahead, following their vision.
That's why Fiat accepted the carcass of Chrysler from the U.S. government three years ago in the first place, why CEO Sergio Marchionne figured he could cobble together a competitive global automotive company from the two, and why he and his lieutenants make interesting — and sometimes daring — product and marketing bets in America.
Sometimes they work out uproariously, like the Chrysler 200 and the Eminem "Imported from Detroit" commercial that debuted during last year's Super Bowl. Other times they have worked out poorly, such as the 2011 debut of the Fiat 500 in the U.S. market, which led to criticism for the Jennifer Lopez music-video-style commercial for the car, and the subsequent ouster of former Fiat U.S. brand chief Laura Soave.
Chrysler and Fiat's CMO, Olivier Francois, says he has learned from these mistakes.Continue reading...
Posted by Shirley Brady on January 5, 2012 06:01 PM
Google TV adds LG to the fold with Samsung, Sony and Vizio ahead of CES, and 2012 global rollout.
Louis Vuitton finally expands brand into perfume.
Apple pays $5M to settle patent lawsuit.
Barnes & Noble eyes Nook spin-off with eye to global markets.
BMW brings MINI to India.
Deloitte finds 9M U.S. cable homes have cut the cord.
Discovery urges investors to be patient with Oprah Winfrey's network.Continue reading...
start your engines
Posted by Dale Buss on December 1, 2011 06:02 PM
With many markers of the health of the U.S. auto industry improving these days, J.D. Power & Associates brings us another one: Americans are more satisfied with the new-vehicle sales process than they were a year ago. Among the luxury brands that lead in this score, Lexus still ranks highest in the researcher's new Sales Satisfaction Index, although Cadillac is sneaking up, and Mini heads up mass-market brands.
The notion that financially strained Americans actually would be happier about the auto-dealership experience is contra-intuitive, given that this experience used to rank right above getting teeth pulled on many consumers' bucket lists. There's also the fact that there have been about four million fewer people in the U.S. new-vehicle market even this year, three years into an industry recovery, than during the market's heyday several years ago.Continue reading...
social media watch
Posted by Sheila Shayon on November 16, 2011 06:15 PM
On the social web, “Brand perception changes at the speed of a mouse click,” as Eileen Brown, CEO of Amastra, puts it. Like it or not, mice are clicking and perceptions evolving as the leviathans of search and social joust for position.
Google+, still in its infancy, has already weathered its first crisis with a business-created page: a now-removed fake Google Plus page for Bank of America replete with mocking photos of former BofA CEO Kenneth Lewis, and incendiary messages such as: “Starting tomorrow, all Occupy Wall Street protestors with Bank of America accounts around the country will have their assets seized as part of BofA’s new Counter-Financial-Terrorism policy.” (The bank's official page is here.)
To avoid such future brandjacking, Google has partnered with six social media management firms — Buddy Media, Context Optional, Hearsay Social, Hootsuite, Involver, and Vitrue — to use their products to help brands better manage the Google+ platform. Its official Google+ page now features a check mark logo to show it's been verified by Google.
"I'm not surprised they're taking this step. We recommended as much to them during the pilot phase when Ford was allowed to have an account before other brands," commented Scott Monty, Ford Motor Company's global digital communications manager, in an email to ClickZ.
"Ultimately, a brand or business needs to be where its customers are," Buddy Media noted in a blog post. "Google+ has experienced tremendous growth since opening its doors to the general public. In just a few short months over 40 million people have created Google+ profiles and use the service to connect with each other and share content."Continue reading...


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By purifying the air within a twelve inch radius of it, in case you’re wondering—see that row of holes at the bottom?
Thanks to newfangled ion emitting technology, the Plasmacluster can keep hordes of bacteria at bay. In case you didn’t know, cellphones and most handheld devices are absolutely filthy at the miroscopic level, teeming with gruesome populations of icky germs.
Though ion emitting technology in mobile devices has yet to be perfected and subsequently shrunken, the Plasmacluster is a step in a new direction for NTT Docomo. The Japanese cellphone maker showcased the upcoming product during the recently concluded CEATEC Japan 2010 that ran from October 5 to 9.
Beyond its germ destroying function, there’s little else to tout about the Plasmacluster except a color screen and a standard flip configuration. Specs are a question mark as well. That said, don’t expect this to retail soon, as the Docomo people themselves confirmed that the ion technology still needs some work.
Besides, the NTT Docomo booth at CEATEC was meant to give the tech-hungry public a glimpse of their various works in progress. Rest assured however, we’ll be keeping our eyes and ears on alert for developments in NTT Docomo’s ion cellphones.
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The worldwide tablet market shed seven percent in Q2 to 44.7 million units, according to IDC. Quarter on quarter, the drop was 3.9 percent.
The market was not helped with the lack of hardware innovation and new products.
“Beyond the decline, we are seeing a profound shift in the vendor landscape as the top two vendors, Apple and Samsung, lose share in the overall market. In the first quarter of the year, Apple and Samsung accounted for 45 percent of the market and this quarter, with the growth of vendors like LG, Huawei, and E FUN, their combined share dropped to 41 percent,” said Jean Philippe Bouchard, Research Director for Tablets of IDC. .
“Each of the growing vendors managed to address available pockets of growth in the market; connected tablets for LG and Huawei, larger tablets and 2-in-1s in the right price bands for E FUN. This trend is also something we see on a wider scale with the top 5 vendors accounting for 54 percent of the market, down from 58 percent last quarter. It is worth mentioning that Huawei enters the top 5 ranking for the first time, while E FUN has re-entered the top 10 after more than a year, further indicating that the vendor landscape is indeed evolving,” he added.
Despite a continued decline in shipments for its iPad product line, Apple maintained its lead in the worldwide tablet market, shipping 10.9 million units in the second quarter. Samsung held its number 2 position in the market with 7.6 million units shipped and 17.0% percent market share in Q2. Lenovo maintained its third position with 2.5 million units and 5.7 percent share of the market. LG and Huawei ended the quarter in a statistical tie for fourth place, rounding out the top 5 with each shipping 1.6 million devices.


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Last November – two years after its $5 billion takeover by Chinese electrical appliance maker Midea – Kuka’s chief executive told reporters in Shanghai that the German robotics firm was well positioned to become the leading player in industrial automation in China, with its parent group’s help.
But Till Reuter wasn’t destined to deliver on his prediction: a few weeks later he was ousted by his Chinese bosses.
When Midea made its bid for Kuka in 2016 German politicians worried about giving up a prized asset to an ambitious rival in the robot world. They were persuaded to wave the bid through, after assurances that business would continue largely as usual. Kuka’s main investors also lobbied for the takeover to happen, saying it would deliver significant new sales in the fast-growing Chinese market.
A little more than two years after Midea took control, both of those forecasts don’t look quite as reliable. The more cynical commentators have blamed post-merger rifts for tainting what was once heralded as a trophy acquisition. But other analysts diagnose it as more a case of short-term turbulence in a robotics market derailed by China’s trade and tech spat with the US.
What management changes have there been?
Kuka’s latest China CEO James Wang Jiangbing left the company at the end of June, although local reporters didn’t specify if he was sacked. Recruited by Reuter, Wang knew German corporate culture well, having worked for firms including Siemens and Roland Berger. He was promoted to head Kuka’s 1,500 staff in China last August, but the employees are now set to get their fourth new China boss since the takeover in 2016. The appointment will be made directly by Midea this time, bypassing Kuka’s German head office in Augsburg, says Jiemian, an online media, citing company insiders.
Are there also personnel changes at the head office in Augsburg?
China’s state-run newspapers hyped up the German firm’s coupling with Midea as one of the most promising matches of the slew of acquisitions made by Chinese firms overseas in the last couple of years (see WiC385). International media outlets were more cautious, which seems to have been wise in the wake of Reuter’s surprise departure last year.
After 10 years as an M&A banker, Reuter arrived as Kuka’s boss in 2009. He and an investment partner had amassed a 29% stake and the shareholding turned out to be pivotal when Midea came knocking in 2016.
Despite concern from German politicians (see WiC326), Reuter thought the bid premium was too good to turn down. He described the deal as offering “the best of both worlds” – German expertise and Chinese partnership.
Kuka was already active in China when Midea showed interest: Reuter was in charge when it opened its first plant there in 2013 and revenues there had grown nearly tenfold from 2009 to almost €500 million ($563 million) in 2017.
However, in an interview with the Financial Times that summer, Reuter said that his goal was growing Kuka’s business faster, and in mid-2017 he was still confident the China market was the means.
Back then there were few indications that he would soon be gone – in fact Kuka had extended Reuter’s contract as CEO till 2022.
Then came the shake-up: not just for him, but for five other senior managers, who followed him out of the door.
Peter Mohnen, Kuka’s CFO, has been appointed as interim CEO until a long-term replacement is found.
Why the management reshuffle?
Kuka’s recent performance had been disappointing. Sales fell in the first three quarters of 2018, dragged down by weaker demand for six-axle robots, one of its core products. Plans for stronger sales to new customers in China didn’t materialise as hoped, and Kuka sales and profits fell substantially.
This year has started better, with an 8% increase in profit in the first quarter on slightly declining revenues. But the weaker-than-expected performance has been reflected in Kuka’s share price: its market capitalisation had dropped to about €1.8 billion as of this week, significantly less than half the price that Midea paid for a controlling stake three years ago.
For Kuka’s overlords at Midea, a more fundamental concern is the unravelling of the logic that drove the deal in the first place.
Part of the rationale for the takeover was that Kuka would benefit from a local partner in China, helping it to challenge Japanese rivals like FANUC and Yaskawa Electric, and the Swiss giant ABB.
But progress here has been limited. “Over the past two or three years, Kuka’s sales in China have been lagging behind rivals such as FANUC and Yaskawa. Within the Big Four league, the gap between Kuka and the leaders has been widening,” one industry expert told Jiemian.
More a case of strife than synergy?
Faced by the slump in sales, interim CEO Mohnen announced plans to cut costs by €300 million before 2021, with a third of the savings expected this year.
The downsizing has already seen 150 jobs disappear from Kuka’s payroll of 14,000, with 350 more anticipated to go this year. That’s making the German labour unions restless – when Midea was pursuing Kuka it promised to maintain staffing numbers to 2023.
Midea also committed to maintaining Kuka’s existing strategy and the independence of its executive board, which is made up of its CEO and the CFO.
Midea’s voice is loudest on the 11-person supervisory board, where the Chinese firm has three representatives (six members are elected by Kuka employees).
Kuka said in its annual report last year that the relationship between its supervisory and executive boards has been “constructive”.
However, the FT reported last year that Reuter had clashed with Midea’s CEO Andy Gu over Kuka’s strategy in China and that his departure was a reflection of the fact that the German firm is now “firmly in Chinese hands”.
Handelsblatt has looked further back for the reasons for Kuka’s recent malaise, reckoning that both sides spent too much of their time overcoming the political resistance to the 2016 takeover.
It claims this diverted attention from the operational challenges Kuka faced as it plotted its next growth phase. These less public issues have been harder to resolve, the German newspaper added, because of a “cultural clash” with the new owners over the kind of robots that it is producing.
Midea executives have been critical of Kuka technology for being “overpriced and over-complicated”, with delivery delays adding more woes, Handelsblatt said.
Where does Midea see the future?
The sense is that Midea wants to capitalise on Kuka’s expertise to reach deeper into healthcare and warehouse automation, and to create a supply chain in smart appliances and internet-of-things (IoT) devices that profits on its pre-existing leadership in products like air conditioners and washing machines.
Part of that strategy has seen the launch of a new joint venture in Foshan: a Rmb10 billion ($1.45 billion) factory, where the German firm will develop a range of smaller and simpler robots. One of the hopes is that the switch will wean Kuka off some of its reliance on the automobile market, the segment from which it has traditionally derived the bulk of its revenue.
But advancing into new areas may also put more pressure on the differences in management style between the two companies, something that Wilfried Eberhardt, Kuka’s marketing boss, hinted at during a panel discussion at a conference in Munich last year.
“Very often we Germans tend to take a very long term view, with deep analysis, but we can spend too much time doing that,” he acknowledged. “But when you go to China, they just do it, and you can see the advantages. That brings a lot of speed. We have to learn from them that speed and change is not a bad thing. It’s good. It’s just that sometimes it’s not easy and not very comfortable.”
Isn’t the robotics industry slowing down more broadly?
It’s certainly true that the trade and tech rows between China and the US have sapped the investment appetites of many of the bigger manufacturers.
Demand for industrial robotics in China hasn’t been as strong over the last 18 months as proponents had hoped either. The Chinese have been the world’s biggest buyer of industrial robots since 2013 and about 130,000 robots were sold there last year, according to the International Federation of Robotics (IFR). But that figure is nearly a fifth lower than the IFR’s earlier projections and represented a 3.6% year-on-year drop in sales.
That was the first annual decline since 2009, following five consecutive years of double-digit growth.
Demand for industrial automation has been diluted by the struggles of some of the sector’s key clients: notably the carmakers and 3C manufacturers (computers, communications and consumer electronics).
In 2018, car sales in China fell for the first time in 28 years. About half of Kuka’s sales of industrial robots and related manufacturing systems are to automotive clients, HSBC research says.
Its rivals have felt some of the impact as well: both FANUC and Yaskawa reported a drop in 2018 revenues and both blamed sluggish demand from China for the decline.
Longer-term, the prospects look better for Kuka?
Mohnen described Kuka’s situation as “a ship in stormy water” at the shareholder meeting in May. But he has been trying to play down the suggestions of tensions between the firm’s supervisory and executive boards. The company also talked up the launch of an “inter-culturally experienced” taskforce as a conduit for driving change.
Of course, all the major robot makers have high expectations for sales in China, which is home to about 70% of the world’s electronics production, as well as a growing proportion of its automotive plants, thanks to its status as the world’s largest car market.
Both of those industries are major buyers of industrial automation. Optimists add too that robot density ratios in China trail those of other producer economies by some distance: China reported 97 industrial robots per 100,000 manufacturing workers in 2017, half as many as the US, and a seventh of South Korea’s, Bloomberg says.
That discrepancy is also why Beijing’s policymakers are pushing for a homegrown robotics sector as one of the priorities of the Made in China 2025 plan (a government-guided programme that continues to advance, even though it is no longer being trumpeted in the media because of the tensions with Washington).
Beijing’s stance is that it wants China to be the major supplier of the world’s industrial robots, not just the leading customer for them, and Kuka’s new factory in Foshan will address some of that mismatch, churning out at least 75,000 more robots a year by 2024. ABB also started construction of a new plant in Shanghai this month with a projected annual output of 100,000 robots when it is finished next year.
The more immediate challenge for Kuka executives is how to reboot sales growth by working with Midea on new opportunities, while also operating largely independently of Chinese control.
As one of the more high-profile acquisitions by a Chinese firm, the Kuka takeover is also going to serve as a yardstick for future M&A, especially for Chinese firms looking to buy their way into more advanced technologies.
German broadcaster Deutsche Welle believes that the appointment of the next Kuka boss will be scrutinised closely in Berlin too. “A China-centric appointment to replace Reuter will likely confirm the worst fears that critics of the deal in Germany had,” it warned.
Despite the challenges, the industrial logic of the original deal still seems to hold, especially if Kuka’s expertise can be brought to bear in sectors where Midea delivers the market access.
Finding the right mix between the two companies is clearly going to be crucial, with Handelsblatt predicting that the interim chief executive could make the role permanent if Mohnen is better able to bring the different teams in Augsburg and Foshan together.
“Given the controversy surrounding the takeover, Mohnen has to strike a particularly delicate balance. On the one hand, he must improve results and keep his Chinese bosses happy. But he also needs to convince staff and politicians in Germany that Kuka is still properly independent,” the newspaper said.
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Seattle's South Lake Union will get Capelli's barbershop, Mio Sushi restaurant, Born to Run sport goods store
- Jeanne Lang Jones
- Staff Writer
Seattle’s South Lake Union neighborhood is getting three new retailers, including a barbershop, a sporting goods store and a sushi restaurant, developer Vulcan Real Estate announced today.
The Born to Run sporting goods store opens next month in the Alley24 building at 224 Pontius Ave. N., across from REI's flagship store. Born to Run sells minimalist running shoes that mimic running barefoot, based on the belief simpler shoes cause fewer foot problems. The store will also offer training classes for runners.
Capelli’s Gentlemen’s Barbershop will open its third Seattle location in October in the Seattle BioMed Building at 307 Westlake Ave. N.
The sushi restaurant Mio Sushi, which has 12 locations in Portland, is scheduled to open its first Seattle-area restaurant next fall in the Rollin Street Flats building at 120 Westlake Ave. N.
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ABBOTT PARK, Ill. (CBS.MW) -- Shares of Vysis Inc. surged more than 30 percent Wednesday following a $355 million cash buyout offer announced by Abbott Laboratories.
Shares of Downers Grove, Ill.-based Vysis surged $7.26 to $30.26, while Abbot gained 38 cents to $54.24.
Abbott, which sells prescription medications and other medical products, said the acquisition would bolster the company's position in medical diagnostics. Vysis makes genetic tests used in the management and evaluation of diseases, including breast cancer.
"This acquisition further strengthens our position in molecular diagnostics, with a portfolio of innovative tests for the detection of chromosomal and gene abnormalities," said Thomas D. Brown, Abbott's senior vice president of diagnostic operations, in a statement. The company expects to close on the deal by year's end.
The deal will have no effect on its previously announced earnings-per-share forecast of $2.24 to $2.26 for 2002, Abbott said.
Abbott said it anticipates a one-time charge in the fourth quarter of 2001 related to this transaction, primarily for in-process research and development. The size of the charge has yet to be determined.
Excluding its discontinued food-testing business, Vysis posted a second-quarter profit of nearly $1.2 million, or 10 cents per share, compared to a loss of $882,000, or 9 cents, registered in the year-earlier period. Revenue rose to $6.4 million from $4.5 million.
Earlier this month, Vysis said it expects to earn more than 6 cents a share on an operating basis for the third quarter.


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New data shows British and European startups had a banner year in 2017 and hope for more of the same in 2018, enjoying record funding levels thanks to capital from foreign investors. Chief among them is Japanese tech group SoftBank, which pumped €458 million into British VR start-up Improbable in one of 2017’s headline investments. SoftBank has already followed that up with €460 million for Germany’s AUTO1 used car platform this year. But while start-ups may be doing fine, for now, some of the venture capital (VC) firms that many of them rely on can’t say the same. Thanks in large part to the uncertainty surrounding Brexit, the total amount of capital raised by VC firms across the sector was just €7.4 billion (a 25 percent drop from 2016).
What does this mean for Europe’s budding entrepreneurs?
Not Just Brexit
While a struggling VC sector already spells trouble for the health of Europe’s startup ecosystem, there could soon be far more than just Brexit weighing on available capital. In France, Jean-David Chamboredon – one of the country’s best-known tech investors and co-president of the startup association France Digitale – offered a simple but stark warning to fellow investors last month. Ten years have now passed since the start of the 2008 financial crisis; the market is now due for a downturn within the next three years that would dry up available funding.
The next recession, whenever it comes, will make it far more difficult for most startups in the European ecosystem to count on overseas investors. As Chamboredon explains, international funding will respond to lean times by looking for opportunities closer to home. Institutional funding sources like France’s Public Investment Bank (BPI) and the European Investment Fund (EIF) will do their best to make up the shortfall, but there are limits on the extent to which the BPI and EFI can make up for private investment.
It’s the Strategy, Stupid
This explains why Chamboredon and other pioneering European VCs, like US-born Julie Meyer, the founder of networking forum First Tuesday and London-based Ariadne Capital, believe Europe needs to strategically leverage its own capital to promote and sustain entrepreneurship. Meyer, who helped find funding for
lastminute.com, Skype and Espotting, argues that “We have the entrepreneurs, we have the wealth, and we have the market here in Europe with 508 million people.”
Why, then, do so many European entrepreneurs still see California as a Shangri-La tech investment destination? In her appraisal, the success of Silicon Valley comes down to “savvy marketing which has enabled the Americans to convince the world that they own the playbook for tech entrepreneurship.”
Part of the solution to that misperception lies therefore in transforming the diversity of European national markets into a strength as opposed to a weakness: rather than a single, dominant tech region, Europe boasts many thriving hubs which are comfortable using a variety of languages and currencies. According to the Global Innovation Index, eight of the world’s ten most innovative markets lie within Europe.
Another key component is developing the ability to broker partnerships between would-be disruptors and established companies who can bring their innovative ideas to scale. This is what Meyer has called a mutually productive “David and Goliath” relationship between companies that have the disruptive ideas and the tech giants that have the customer base to diffuse those ideas.
According to this model, called Ecosystem Economics, startups and VCs don’t need to aim for constantly breaking and reinventing the wheel. Instead, entrepreneurs and their SMEs should imagine the way an industry should be operating – and industry leaders should help them bring those ideas to scale. Meyer’s mantra is to go beyond identifying promising startup ideas and seek out the corporate actors for whom it makes sense to acquire and develop them.
That kind of synergy between entrepreneurs and established industry giants together requires a platform which countries like France find themselves lacking. Paris attracted more VC investment ($2.7 billion) than Germany ($2.1 billion) last year, growing faster than Sweden, Spain, and the Netherlands. But despite initiatives to support startups, established French corporations are not doing enough to acquire, invest in, or co-develop with up-and-comers. La French Tech, established to support start-ups, is publicly funded. Paris start-up superhub and incubator Station F, founded by telecommunications mogul Xavier Niel, is a personal project as opposed to a corporate initiative.
For startups and their VC partners to be ready for the next downturn, this needs to change. After all, very few entrepreneurs achieve scale. Predicting the winners of the future will have more to do with smart economics than just disruptive ideas. To quote Warren Buffet:
“You only find out who is swimming naked when the tide goes out.”
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Over the last few months, the smartphone market has seen several dirt cheap phones trickling up. Moto G, Moto E and Xiaomi’s Redmi range have a big hand behind it. Today, in the market you will find several dozens of Android powered smartphones costing at sub par $100 offering Android JellyBean and reasonably good enough hardware specification. But what if you were to shell out just $50?
Indian OEM Celkon has launched Campus A35K which as it claims is India’s cheapest Android 4.4 KitKat-powered smartphone for Rs 2,999 ($48). The phone is exclusively available through Snapdeal.
The dual-SIM capable Campus A35K sports 3.5-inch display with a rather unimpressive 320 x 480 screen resolution. Powered by 1GHz processor coupled with 256MB of RAM and half gig internal storage, the company has provided the handset with crippled hardware in order to mold it with the $50 tag.
Cell shutterbugs could find the 3.2MP shooter at the back, and a VGA front facing camera upfront rather pleasing. Do note that several smartphones costing double as Celkon’s Campus A35K don’t offer a front facing camera. On the connectivity front, the phone supports 3G, Wifi, Bluetooth, and GPS.
While the smartphone offers unimpressive hardware specifications, it should be noted that its hardware isn’t the selling point at consideration, it is the $50 price tag here that will lure in customers.
You might also want to check Karbonn Smart A50s. The dual-SIM capable smartphone comes with a 3.5-inch display, 2MP camera in the rear, and a VGA shooter upfront. Powered by 1.2GHz processor, the phone packs 256MB of RAM. The smartphone costs just Rs 2,699. You might also find Spice Smart Flo Space Mi-354 Dual SIM phone attractive, which sells little south of Rs 3500.
Mozilla is also expected to launch its $25-$50 Firefox OS-powered smartphones in India this month.At the Google I/O event, the company announced Android One, a programme that will result in $100 smartphones. The devices will start selling in India by October.
Wondering why every company is working on cheaper handsets? There are around 1.9 billion smartphone subscribers in the world. An Ericsson report from last year estimated that in the nextfive years, the figure will reach to 5.9 billion. Which basically means that in next four years, we will have twice as many people using their smartphones. At country like India, where vast majority of people can’t afford a smartphone, the lower price bracket enables them to have a piece of smart device as well.


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Posted: February 17, 2023
Two groups of South African businesspeople representing 27 companies will depart for the United Arab Emirates (UAE) this weekend in search of export markets for their products. A business delegation comprising sixteen agro-processing firms will showcase products in the Gulfood exhibition in Dubai, while eleven companies that operate in the defence sector will participate in the International Defence Exhibition and Conference (IDEX) that will take place in Abu Dhabi. Both international exhibitions take place from 20-24 February 2023.
The companies’ participation has been made possible by the Department of Trade Industry and Competition (the dtic) that will set up national pavilions at the two trade shows where the South African companies will exhibit their products.
Gulfood is regarded as the largest food and beverage trade exhibition in the Middle East. It attracts a large number of participants from the Middle East and the world at large. IDEX is the only international trade show in the Middle East and North Africa (MENA) region showcasing the latest technologies in land, sea and air sectors of defence.
The Chief Executive Officer of the South African Aerospace Maritime Defence Export Council (SAAMDEC), Mr Sandile Ndlovu is confident that the South African companies will stand out from the rest of the exhibitors at IDEX.
“I am confident that the South African companies will attract quite a significant amount of attention as the country enjoys a good reputation internationally as a manufacturer of high quality and advanced aerospace and defence products. The Middle East is our biggest export region and there is always an interest in SA-produced products from that part of the world. We are also renowned for being competitive in terms of prices because we manufacture in rands and trade in dollars,” says Ndlovu.
The General Manager of the South African Fruit and Vegetables Canners Export Council (SAFVEC), Ms Jill Atwood-Palm says Dubai is a promising trade hub for re-exporting into the rest of the Gulf region and beyond.
“We will be using our participation in the Gulfood as an platform to attract new business leads, benchmark the industry against global competitors, garner market research and information, gain insight into new and developing product innovations and more importantly increase our footprint in the consumer, hospitality and industrial sectors,” says Atwood-Palm.
The Sales Manager of Zebra Armour, a Durban-based KwaZulu-Natal company, Ms Ana Warburg, says she is confident that the trip will be beneficial to her company, which is determined to expand its footprint to countries in the Middle East and beyond. The company is already exporting its products, which include personal armour products, such as bulletproof vests, plates and helmets, to Europe, New Zealand, United Arab Emirates and South America.
The Managing Director of Cape Town-based Jacobs Jam company, Mr Nigel Jacobs says the Middle East is a very good market for his company’s products. The company manufactures high quality jam products that are sold all over South Africa and Zambia.
The Middle East continues to experience a population growth, translating into increasing opportunities for the agro-processing sector, with a market demand of $3 trillion. The UAE remains the main destination for South African goods in the region, as reflected by the consistent increase of exports. Over the past 10 years, SA’s exports to the UAE grew from R8.6 billion in 2012 to R34 billion in 2021.
Bongani Lukhele – Director: Media Relations
Tel: (012) 394 1643
Mobile: 079 5083 457
WhatsApp: 074 2998 512
Issued by: The Department of Trade, Industry and Competition (the dtic)


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Swinburne has partnered with international logistics and freight management company CEVA to co-create and co-deliver its Master of Supply Chain Innovation course in what the institute calls an Australian-first collaboration.
The postgraduate course commenced earlier this year with the aim of upskilling those already working in the supply chain industry and ensuring new entrants into the discipline have the most up-to-date skills.
Delivered through Swinburne’s Australian Graduate School of Entrepreneurship (AGSE), the Master of Supply Chain Innovation continues to build collaborative partnerships with industry that will prepare graduates for the future of supply chain management.
Director of the AGSE Alexander Kaiser said this partnership is an important component in facilitating the delivery of industry-embedded postgraduate courses to Swinburne students.
“We are delighted to forge this collaboration that will add great value to the AGSE’s Master of Supply Chain Innovation,” Mr Kaiser says.
The partnership will see students working with CEVA on a core component of the degree, the Innovation in Transport and Logistics applied project unit.
While being mentored by CEVA’s logistics experts, students will work with the company on real-world projects and produce practical solutions to its issues.
With active university partnerships around the world in Asia, North America and the United Kingdom, this new relationship cements CEVA’s commitment to higher education links with industry.
Director of the Master of Supply Chain Dr John Hopkins said this partnership in Australia will give students an invaluable insight into the current landscape of the industry.
“At Swinburne, we believe that graduating career-ready means having a deep understanding of and connection with industry. This partnership will allow students to acquire contemporary skills aligned with the challenges that logistics companies face today,” he said.


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Study Finds Organic Food Has More Benefits
A new international study suggests that organic foods contain higher levels of antioxidants than conventionally grown versions. The research, led by the University of Newcastle and published last week in the British Journal of Nutrition, found concentrations of antioxidants such as polyphenols that were 18-69% higher in organic foods. “Many of these compounds have already been linked to a reduced risk of chronic diseases, including cardiovascular and neurodegenerative diseases and some cancers, in dietary interventions and epidemiological studies,” the study said. Researchers suggest that switching to organic fruits, vegetables and grains provides consumers with 20-40% more antioxidants, which would be equivalent to eating between one and two more servings of fruits and vegetables per day. The team also found that pesticide residues were four times more likely to be found in conventional crops than in organic crops, and that levels of cadmium, a toxic heavy metal, are almost twice as high in food. grown conventionally. However, the United States Department of Agriculture’s Pesticide Data Program (PDP) annually tests conventional fruits and vegetables and finds that “food in the United States is not a safety concern due to pesticide residues. “. As for cadmium, the study itself notes that “the exact health benefits associated with the reduction [cadmium] intake levels through a shift to organic food consumption are difficult to estimate. The article is a meta-analysis of more than 340 studies on the compositional differences between organic and conventional crops. “There are many more high quality studies comparing the nutritional quality and safety of organic foods versus conventional foods and this larger and better database supports some conclusions that have not been reached in some of the above. previous studies, âsaid one of the authors, Professor Charles Benbrook of Washington State University. While the decrease in the number of pesticides on organic foods may not have come as a big surprise, Benbrook said the findings on cadmium were certainly interesting. âNone of the previous reviews noted this and reported significant differences in cadmium levels, but our meta-analysis was much more sophisticated,â he said. It takes into account the sample size and variance of each study included in the analysis, in addition to the average nutrient level. The results contradict a 2009 study commissioned by the UK Food Standards Agency, which found that there were no substantial differences or significant nutritional benefits from organic foods. Critics of the latter study suggest that it exaggerates the importance of the findings for public health. While the findings on increasing antioxidants may be new, nutritionists are struggling to say exactly how beneficial they are. âThis article is misleading because it refers to antioxidants in plants as if they were a class of essential nutrients, which they are not. The article deceptively suggests that the health benefits result from high intake of antioxidants, especially protection against cancer, âsaid Professor Tom Sanders of King’s College London’s School of Medicine. told The Independent. “This study does not provide any evidence to change my point of view that there are no significant nutritional differences between conventional and organic crops.” The Alliance for Food and Farming maintains its position that organic and conventional fruits and vegetables are healthy and that the best thing people can do for their health is to eat more of one or both. âEveryone seems to agree on this, and we don’t understand how discussing the best growing method is good for consumers,â said Marilyn Dolan, Alliance executive director. âCertainly raising unnecessary concerns among consumers about the safety of either system is not beneficial. Pitting one system against another does not lead to an increase in the consumption of fruits and vegetables, which we have to do. ” On his blog, Food Politics, Marion Nestle also noted that the Newcastle study was not fully independently funded. It was jointly funded by the EU’s European Framework Program 6 and the Sheepdrove Trust, which supports initiatives to increase organic farming and sustainability. Additionally, she suggested that the aim of the study appears to be to prove that organic foods are more nutritious for marketing purposes. “But most people who buy organic do it because they understand that organic products are about production values,” NestlÃ© wrote. “Like I said, if they’re more nutritious that’s a bonus, but there are plenty of other great reasons to prefer them.” To critics who aren’t convinced the extra antioxidants make a significant difference, Benbrook said, âNotice they didn’t say, ‘Science says it doesn’t. They say it’s an open question. He recognized that other aspects of eating will alter an individual’s response. âWith people eating the recommended six to eight servings of fruits and vegetables and getting enough antioxidants, an extra 20% won’t make a big difference to them,â he said. “But for people who only consume two servings of fruits and vegetables and who are probably consuming less than half of their optimal daily intake of antioxidants, a 20-40% increase for these people will translate into health benefits over the years. the road. “
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U.S. Postal Service returns to downtown Vicksburg
Published 9:24 pm Friday, April 22, 2016
A local stationary store can now also be known as the Village Post Office.
Paper Plus, 1318 Washington St., is now offering postal product and services in addition to the party supplies, gifts and stationary the store regularly carries.
“We sell stamps, we mail boxes, we have the Priority boxes, but we don’t do registered or certified,” owner Mary Welch said.
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Welch said she wanted to become a place where people could utilize postal services because of the great demand downtown with high tourist traffic and a growing number of locals who live downtown.
“There were so many people that wanted to buy stamps— tourists, people off the boats—they wanted to mail stuff, and there was no place close to do that,” Welch said. “Of course the people on the boats have no transportation to get to the post office.”
She said a lot of residents of The Lofts at First National, which is located across the street, have already come to her store to send mail. She sees having post office capabilities as a way to provide for customers while also drawing them into her store.
“Hopefully people will come in to buy postage and will shop and buy other products that we have,” Welch said.
Another feature the Village Post Office offers to customers is shorter lines than at the United States Post Office.
“People don’t like to go to the main post office and stand in line, especially if they just need to buy stamps,” Welch said.
Unfortunately, Welch said she isn’t able send anything internationally.
“There are still some things you have to go to the post office for,” Welch said.
Vicksburg’s post office was once located downtown on Crawford Street next door to City Hall. Years ago the post office moved to Pemberton Square Boulevard.
Welch said the U.S. Postal Service tried to get a village post office started downtown after the move but could not find any merchant willing to accommodate the products and services. Recently she was at the post office on Pemberton to buy international stamps, and an employee encouraged her to look into opening a downtown store and so she did.
“A lot of people still don’t know about it,” Welch said.
A ribbon cutting ceremony hosted by the Vicksburg Warren Chamber of Commerce will be held at noon Wednesday. Postmaster Bill Farrior Jr. and Mayor George Flaggs Jr. are scheduled to speak at the ceremony, and light refreshments will be served.


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By Jessica Sun
New York City councilman Mark Levine has introduced legislation that would ban the sale of "detox teas" and "flat-tummy" lollipops to anyone under the age of 18.
Advertisements for detox teas, or "skinny teas," promise they will guarantee near-effortless weightloss and flat stomachs.
Though the products are extremely popular and endorsed by social media influencers and celebrities alike, awareness about the tea's harmful effects is growing.
Levine, who is also the City Council's health chair, is particularly concerned about detox teas being marketed to young people because they give the impression that "the repeated intake of laxatives is part of a healthy lifestyle," he said. Young girls in particular are especially at risk of body-image issues and eating disorders.


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At present , while retailers and a few economists stilll make the case that more consumer spending would be a really great thing , our nations's political leaders have concluded that it's too soon to issue calls for more shopping . New York Times columist David Leonhardt makes a clever pitch for spending now on things that will save you money later-such as Kindles and Costco memberships .
Still , the approach remains paradoxical . Our profligacy has gotten us into trouble , and so the response is ... more profligacy ? There is no shortage of critics who contend that today's massive government spending is simply laying the foudation of another financial crisis , this one centering on a loss of confidence in Treasuries and the dollar .


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On March 26, 2015, Eric R. Fischer, Senior Fellow at the Boston...
You can buy a beer in Philly with bitcoins, but is the currency viable?
By Shai Ben-Yaacov
February 5, 2014
Tucked into a narrow Sansom Street block in Philadelphia, Cavanaugh’s Rittenhouse Square appears similar to any other sports bar in town.
But look closely at the tavern’s front window and you’ll see a small sign reading “Bitcoin accepted here.”
“I’ve just been following it, and I’ve been into technical and computers for a while, and it was always there. And, of course, just kicking myself for not picking up 20 bitcoins when they were worth a dollar,” said co-owner Ken Hutchings.
You may have heard of the online currency’s meteoric rise over the past year. Bitcoins started 2013 trading for $13. At their height in December, they were worth $1,200.
Now, more and more Philadelphia retailers, like Cavanaughs, are accepting bitcoins — about two dozen so far, according to the online bitcoin retail locator Coinmap. That makes Philadelphia one of the top 10 cities in the world for bitcoin users relative to its population…
Read the article at: NewsWorks.org


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NEW DELHI—Protests against a new citizenship law in India drew hundreds of thousands across the country in recent days, defying government restrictions after weeks of demonstrations that have included sharp clashes with authorities in some parts of the country.
Adding to anxieties about rising disorder, an attack by masked assailants wielding clubs on a prominent university campus Sunday in the capital left more than a dozen students and a teacher injured, property damaged and frightening images of students being chased and beaten circulating on social media and television.
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In an effort to sway buyers to play GTA IV on Xbox 360, Microsoft reminded consumers on Tuesday of the exclusive episodic downloads coming to Xbox 360 this fall.
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A telephone phishing scam, which purports to come from the NSW Police Force, has surfaced in NSW over the past 24 hours.
Sony and Samsung, two of the biggest backers of the Blu-ray Disc format during its battle with rival HD DVD, are releasing new Blu-ray Disc products with the anticipation that consumers are finally ready to start upgrading to high-definition video di...
LG Electronics has officially thrown its hat into the thin TV ring with the launch this week of its Scarlet TV set. The TV, which was first unveiled at the International Consumer Electronics Show in January in Las Vegas, is LG's thinnest flat-panel T...
Sony and Samsung are reaffirming their alliance in LCD (liquid crystal display) panel manufacturing with plans to jointly construct a third flat-screen factory in South Korea.
A technical dispute between BigPond and PayPal has been resolved after BigPond cable users had been unable to login to the payment site for over a week.
Do your HDTV programs look as good as they should? If not, you may be seeing the results of overcompression. A growing number of viewers and experts are claiming that increased use of compression--technology that downsizes huge high-definition video ...
Netgear this week will roll out network and storage gear aimed at a range of small and midsize businesses, including a new 802.11n wireless LAN product line.
Digital sales of music represented 10 per cent of the total worldwide music market in 2007, up from six per cent in 2006, according to In-Stat.
The 3G iPhone will be announced June 9, the likely date of Apple CEO Steve Jobs' keynote at the company's Worldwide Developers Conference, analysts said in research notes.
EBay-owned Skype has released into open beta testing a client for mobile phones that supports phone calls, chat and other features of the popular VoIP (Voice over Internet Protocol) application.
Seagate announced Tuesday that it has shipped 1 billion hard drives since pioneering an industry that shows no signs of slowing down 29 years later.
Chinese-language blogs are detailing a zero-day vulnerability in Microsoft Works, the company's lower-end office productivity suite, according to security vendor McAfee.
Nokia Australia today announced the opening of the Nokia Music Store, aiming to compete with market leader iTunes.
Western Digital has launched the first model of its new 2.5-in. VelociRaptor VR 150 hard-drive product line, which company executives said offers about twice the capacity of the 2.5-in. Raptor hard drive it will replace.
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In the aftermath of the Bangladesh Rana Plaza tragedy in 2013, two initiatives were set up to oversee the country’s clothing factories for fire, electrical and structural issues – the Alliance for Bangladesh Worker Safety and the Bangladesh Accord on Fire and Building Safety. The Accord’s tenure comes to an end next month, and there are serious concerns for garment workers if another agreement is not signed soon.
Under the oversight of the Accord and Alliance, Bangladesh now has one of the safest and most transparent ready-made garment (RMG) industries in the world. But that could now under threat.
After an initial five-year term, the remit of the Accord’s remit was extended until the end of May 2021. Its technical responsibilities have transitioned to the national RMG Sustainability Council (RSC), which was set up last year, but brands and retailers have no legally binding obligation to it. And while there have been discussions to renegotiate the Accord, nothing has yet been agreed or signed.
“In this current situation, where we are running up against the clock, where the Accord has been such a successful programme, it is really on the brink of not continuing because of the current refusal of the brands to continue with an agreement that goes along the same lines and principles of the one we have now,” Alke Boessiger, head of commerce department at UNI Global Union, signatory to the Bangladesh Accord, told a panel discussion last week hosted by the Clean Clothes Campaign and facilitated by the Worker Rights Consortium.
“There is no doubt, in the years since 2013, there has been a lot of progress made in Bangladesh, but the RSC does not have the same accountability, the same enforcement mechanisms, to hold brands accountable like we have in the Accord. This question of holding individual brands accountable for their supply chains is an important one. We cannot do that with just the RCS. We need a global agreement with the brands and the unions.”
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According to the Bangladesh Garment and Industrial Workers Federation (BGIWF), the Accord has driven “phenomenal change” over the last eight years, inspecting over 1,600 factories and improving the safety of more than 2m workers. According to Clean Clothes Campaign, over 120,000 safety hazards have been corrected.
“If we’d had an Accord before Rana Plaza, we could’ve saved all those lives,” says Kalpona Akter, president of the BGIWF and founder of the Bangladesh Centre for Worker Solidarity (BCWS). “Under the Accord the worker’s voice has been included, so the workers could tell very freely how they feel when they are working in the factory, if there is a crack in the building or a fire door was needed. This is the first time the worker has been recognised as a human, not like the equipment in the factories.
“If there is no binding accountability then [the RSC] will not be credible at all and unions will likely pull out. That is very loud and clear. The unions will not be with anything where it has no legal obligation or workers voices cannot be heard.”
Last month, the European Parliament adopted a report calling on the Commission to propose legislation forcing companies to fix human rights in their supply chains. It calls for the urgent adoption of a binding EU law that ensures companies are held accountable and liable when they harm – or contribute to harming – human rights, the environment and good governance.
Yet Christina Hajagos Clausen, garment director at IndustriAll global union, a signatory to the Bangladesh Accord, notes that increased calls for companies to exercise due diligence for all parts of their operations are exactly in line with what the Accord has been doing: “They had to take responsibility for all their suppliers in Bangladesh. That was possible because we had a legally binding agreement that held them accountable for everything they were doing.
“The new legislation is going to impose that on all the brands, and having an agreement like the Accord, which we want to continue and expand into other countries, it’s the perfect tool for companies to comply with these calls for legislation because it requires companies to develop internal systems, internal mechanisms, to really have control over their supply chains.
“For companies to sign on to a new successor agreement of the Accord and to expand it with us into other countries is what they should be doing if they want to be in line with these calls for due diligence legislation in Europe.”
A blueprint for international adoption
Alongside negotiations between unions and brands to extend the Accord in Bangladesh, there are also discussions to expand it to other countries where building and worker safety is threatened. For instance Pakistan.
Nasir Mansoor, president of the National Trade Union Federation in Pakistan, a strong advocate for decisive binding action on workplace safety in the country, told the panel he would like to see the initiative extended to other merchandise producing countries.
“In Pakistan we are working with IndustriAll and Clean Clothes looking for a Bangladesh-style Accord. At the moment brands are detracting from their responsibility. We saw that in the Covid situation. The workers’ conditions are worsening, so the only way to resolve the issues in the RMG sector is to have some kind of binding treaty with the brands.
“When there is pressure on the brands they accept responsibility; when there isn’t they don’t accept it. So we need some kind of joint strategy and we force, somehow, the brands to fulfil their commitment. I learnt from Rana Plaza and Ali Enterprises that if we don’t have the strength and unified actions, the brands will always try to escape their responsibilities. If we want workers to get something from the brands and make them commit we need some kind of binding treaty and agreement otherwise it can’t work.”
Boessiger says it is important the lessons, protocols and processes of the Accord are taken and built on for other countries.
“Of course, we need to see in each country who are the local stakeholders. Each will have different governance. What is important is that all stakeholders are involved, like the workers, the unions, the brands buying from the country and the governments. We want the government on board from the beginning. Let’s take the successful with us, but let’s adapt it with each country with all the local stakeholders.”
Unions and industry organisations are now calling on brands to sign a global agreement that will take the work of the Accord into the future and remove any risk of a return to self-monitoring.
“In March alone this year 40 garment workers in Egypt and Morocco lost their lives in unsafe factories,” says Clausen. “So our call as global unions is to sign a global agreement that we can take the best lessons learnt from Bangladesh, a proven safety programme that we have collectively done a lot of work on, that this is the right way forward. Factory problems are not new to this industry and we don’t think the issues around safety should be put to the side right now. Right now is the time to move forward with the global agreement. It would be legally binding and that is the key component to this next step that we need. It is important to workers globally to be able to go to work safely.”
Ineke Zeldenrust, international coordinator at Clean Clothes Campaign, says brands are proposing a new agreement that will not be legally binding, and has no independent secretariat to oversee compliance.
“Under the guise of setting up a new structure, what is happening is a return to self monitoring. Between these two things, the dismantling of the independent secretariat and the unions no longer being able to take brands to court, two of the key features of the Accord success will be removed.
“I find it incredible that in the context of Covid, and in light of all the other problems plaguing the industry in Bangladesh and in other countries, that eight years on we have to fight again to keep in existence the one programme we all agree is functional.”
To mark the eighth anniversary of the Rana Plaza collapse, industry executives have also spoken with just-style about why there is No room for complacency on Bangladesh worker safety.


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Autolite® announced today that it will re-introduce Autolite Annie, an iconic figure from the brand’s history, with the launch of a brand-new virtual garage. Annie’s Garage, opening November 15, will feature ignition-focused automotive tech tips in an interactive online experience, and Autolite® will celebrate the grand opening with the Annie’s Goodie Giveaway series.
“Gearheads are tough, knowledgeable and straight-shooting, and Annie is a great reflection of the community,” said Carl Weber, senior marketing director, First Brands Group. “Annie’s Garage will be an informative, engaging resource to help DIYers tackle their ignition challenges with ease.”
Visitors to Annie’s Garage can navigate through helpful guides on torquing, metallurgy selection, how to spot fouling, and a variety of other spark plug topics. Participants will qualify for Annie’s Goodie Giveaway, which will dish out Annie swag and daily prizes from November 15-19, including:
- $200 Bass Pro Shops Gift Card
- Full Set of Autolite® Spark Plugs
- $200 Amazon Gift Card
- YETI Cooler
- Bluetooth Wireless Speaker
The grand prize of the giveaway series will include four commemorative Autolite® Annie signs and a $500 Visa gift card. To enter for each prize, garage visitors will need to find a secret code hidden somewhere in Annie’s Garage.
To experience Annie’s Garage, enter Annie’s Goodie Giveaway and learn more about Annie, visit AutoliteAnnie.com starting November 15.