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ExxonMobil posts largest corporate quarterly profit in U.S. history…Retail gasoline prices fall again this week…Dell to cut more than 1,200 call center jobs…
It’s the biggest annual profit ever posted by a U.S. company–$40.6 billion. ExxonMobil says it chalked up that profit in 2007, with the help of historic crude oil prices at the end of the year. ExxonMobil is the world’s biggest publicly-traded oil company. It also set a U.S. record for the biggest quarterly profit, with net income of $11.7 billion for the final three months of 2007. That topped its own previous mark of $10.71 billion from two years earlier. The results aren’t considered a surprise, given the record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel. That’s more than 50 percent higher than a year ago. The company’s revenue rose 30 percent in the fourth quarter to more than $116 billion, from $90 billion a year ago.
Retail gasoline prices have fallen across Texas for the third week in a row. The AAA Texas gas price survey finds regular self-serve is averaging $2.87 per gallon in the 11 cities surveyed. That’s three cents less than last week but 84 cents more than at the same point of 2007. Nationally, the pump price has fallen below $3 to $2.99 per gallon, a drop of two cents from last week. Houston’s average is $2.86, down almost two cents from last week. Auto club spokeswoman Rose Rougeau says a slowing economy and recession fears appears to be curtailing demand for gasoline. That’s increased crude oil inventories and decreased crude oil prices from record levels of $100 per barrel to around $90 now. El Paso has the lowest average price of $2.82 per gallon, down a penny from last week. The Austin-San Marcos area again has the highest average gas price in Texas at $2.92 per gallon, down two cents.
Dell is cutting more than 1,200 jobs as the computer maker reduces its sales and support work force. About 900 of those job cuts are at the Round Rock-based computer maker’s call center in Canada. It’s one of the biggest rounds of layoffs at Dell since May. That’s when it announced that it would reduce its work force by ten percent, or about 8,800 jobs. Dell said that it would close its call center in Edmonton, Alberta, by the end of July. That’s one of its two Canadian call centers. It says it’ll make smaller reductions in Oklahoma City and Ottawa, Ontario. It’s also abandoning plans to expand the Ottawa center. Dell also announced it would close 140 kiosks, mostly in shopping malls, where customers could examine and order computers but not buy them. The company is instead striking deals with more retailers to sell machines to consumers. The world’s number two computer maker, which built its business on selling PCs directly to customers, has been expanding into retail to better compete with rivals. Besides Best Buy, Dell sells computers at Wal-Mart and Staples in the U.S. But Dell says it remains committed to its traditional direct-sales business. A Dell spokesman says the layoffs are part of a move to simplify the business and increase efficiency.
A South Korean court sentenced the local chief of Lone Star Funds to five years in prison. The Seoul Central District Court ruled that Paul Yoo, Lone Star’s South Korean chief, manipulated the stock price of the credit card unit of Korea Exchange Bank. The Dallas-based private equity group owns a controlling stake in the KEB. The court also fined Lone Star and KEB $26.5 million each for stock price manipulation in a case closely watched by foreign investors. The Dallas-based fund blasted the decision. Lone Star and KEB both said they would appeal. Lone Star, KEB and Yoo were accused of conspiring to lower the share price of KEB’s credit card unit in 2003 by spreading false information ahead of the bank’s merger with it. Prosecutors had sought a ten-year prison term for Yoo. Their spokesman called the five-year term “too light for the crime,” and said prosecutors also would appeal.
Relatives of civilian truckers killed in Iraq attended a closed-door hearing in New Orleans as they seek to continue their cases against a military contractor. A federal judge in Houston in 2006 threw out lawsuits filed by truckers and their families against Houston-based Halliburton and former subsidiary KBR over a deadly ambush. Six KBR drivers died in the 2004 attack. Others were wounded. One person was missing and presumed dead. Lawyers for truckers and their families asked the 5th U.S. Circuit Court of Appeals to reinstate their cases. No word yet when the three-judge panel will rule. Relatives of the truckers were allowed in court. The hearing was closed to the public and media. Halliburton and KBR asked for the closed hearing because company officials said confidential information would likely come up.
Microsoft is offering to buy search-engine operator Yahoo! for $44.5 billion in cash and stock. It’s a move to boost its competitive edge against Google in the online services market. In a letter to Yahoo!’s board of directors, Microsoft Chief Executive Steve Ballmer says the company will bid $31 a share. That’s a 62-percent premium to Yahoo!’s closing stock price on Thursday. Ballmer emphasizes that the deal isn’t subject to financing. A year ago, Yahoo! opposed any acquisition talks amid optimism about future business moves, but Ballmer says its “competitive situation has not improved.” Under terms of the proposed deal, Yahoo! shareholders could choose to receive cash or Microsoft common shares, with the total purchase consisting of 50 percent each of cash and stock. Microsoft says it intends to offer significant retention packages to Yahoo! engineers, key managers and employees. The software giant says it doesn’t foresee any regulatory hurdles and expects to close the deal later this year.
Baker Hughes in Houston reports the number of rigs actively exploring for oil and natural gas in the U.S. increased by 16 this week–to reach 1,763. One year ago the rig count stood at 1,714. Texas added eight. Baker Hughes has tracked rig counts since 1944.


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Home Tags Sunway Innovation Labs
Tag: Sunway Innovation Labs
"Living lab" has been the buzzword of our modern-day, technological era, though very few seem to grasp how living labs can...
Malaysia’s dependency on food imports has been rising since 2010 due to the low adaptation of agriculture technology and high production costs compared to neighbouring countries Sunway will be launching FutureX Farm, an urban farm innovation hub for urban farming professionals, tech companies, researchers and young talents to collaborate and create transformative solutions focused on food and agritech
By Triningsih Ngadimun, Sunway Group Brand Marketing & Communications
The fund will provide early-stage financing to up-and-coming Malaysian startups..
Startup World Cup Malaysia 2018 is part of a global conference and pitch competition that carries a US$1 million investment prize money. The event aims to connect local startups to resources in Silicon Valley. Runcloud.io took home the Malaysian edition grand prize and is set to represent Malaysia at the Grand Final of the Startup World Cup in Silicon Valley.
Sunway iLabs offers comprehensive entrepreneurial ecosystem for aspiring entrepreneurs through its accelerator programme.
Sunway University and South Korean universities to collaborate on entrepreneurial development. Sunway University signed a Memorandum of Understanding (MoU) with the Leading University for Start-Up Business Association (LUSBA). The MoU allows participating universities to tap into a two-way flow of resources such as joint-research in the field of entrepreneurship.
Sunway Group launches Sunway Innovation Labs to encourage development of the start-up ecosystem in Malaysia. Sunway Innovation Labs is a not-for-profit partnership involving Sunway University, Sunway Group and Sunway Ventures.
Themed, “Lead, Innovate, Sustain”, this year’s conference delved into the topics of leadership, innovation and sustainability.
The launch of the Jeffrey Sachs Center on Sustainable Development at Sunway University. Establishing Sunway City township into a model smart city of the 21st century via the deeper integration of innovation and technology.

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text: Evan Blass, who often gets reliable phone leaks and is also known as @evleaks on Twitter, claims Samsung will be skipping over the Galaxy Note 6 in favor of Galaxy Note 7. If they do the name change, that’ll put Samsung’s phablet in line with the naming scheme of its new flagships: the Galaxy S7 and S7 Edge. So, what should we expect this S-Pen-equipped phablet to carry? According to Blass, the device should come with a 5.7-inch display, an iris scanner, 64GB internal storage that’s expandable via microSD, and a 12-megapixel rear shooter and 5-megapixel front camera. The rumoured Galaxy Note 7 will also be IP68-certified to protect it against water. It should come in black, silver, and blue editions. Of course, while Blass is reliable, this still has to be taken with a grain of salt.


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ROME – The Food and Agriculture Organization Food Price Index averaged 215 points in February, up 2.4 points, or about 1 percent, from the revised January figure.
The food price index consists of the average of five commodity group price indices (meat, dairy, cereals, oils and fats, and sugar) weighted with an average export share of each of the groups for 2002-2004. The FAO said of the February results, “The increase … was mostly driven by higher prices of sugar, oils and cereals while dairy prices fell slightly after a marked rise in January.”
The meat price index averaged 175 points in February, virtually unchanged from January but up from 171 points a year ago. The FAO said pig meat prices gained 3.4 percent behind strong purchases by Hong Kong and recent disease outbreaks in Russia.
The FAO cereal price index averaged 227 points in February, up 4.4 points, or 2 percent, from January and compared with 259 in February 2011.
“International wheat prices rose most followed by maize, while rice quotations were generally lower,” the FAO said. “Wheat markets were supported by tightening supplies and concerns over the impact of severe cold weather on this year’s crops in Europe and the CIS. Maize prices also rose in February, mainly driven by stronger import demand in Asia and supported by weaker dollar and lower freight rates as well as concerns about crop prospects in South America. However, rice prices remained under downward pressure on generally weak import demand and stiff competition among exporters.”
The FAO oils and fats index at 239 points was up 5 points, or 2 percent, from January. In February 2011, the index stood at 281 points.
“Poor monthly production growth in palm oil, together with the prospect of a tight supply and demand balance for total vegetable oils in 2011/12 have driven up the index,” the FAO said. “In particular, lower production forecasts for soy oil, which push down expected global soy oil export availabilities to a multi-year low, have supported prices.”
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FedEx acquires Brazilian logistics company
- Staff Memphis Business Journal
Rapidao Comega is one of the largest transportation and logistic company. It had revenue of more than $500 million in 2011.
The acquisition gives FedEx 45 branches, 145 distribution points and the company’s fleet of 775 vehicles. Rapido Cometa has more than 9,000 employees.
The acquisition is expected to be completed in 24 months. FedEx is naming Américo Pereira Filho, current president of Rapidão Cometa, as a vice president of FedEx Express LAC and president of FedEx Express Brazil. The two companies have worked together in Brazil for more than 11 years.
“Brazil is the sixth-largest economy in the world and its rapidly increasing middle class presents tremendous opportunity for FedEx Express,” Michael Ducker, chief operating officer and president, International, FedEx Express. “Our customers are our top priority and this acquisition is a testament to our commitment to expand our global footprint in the markets that most need access to the global marketplace.”
Earlier this week, Memphis Business Journal reported FedEx had completed its acquisition of TATEX, a French business-to-business express transportation company.
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Tesco calls time on 24 hour trading at 76 stores
Supermarket giant Tesco is to call time on 24 hour opening at 76 of its stores around the UK.
Affected stores, which had previously been open 24 hours, will close their doors to customers between midnight and 6am. The changes to shopping hours will take effect between 14 March and 11 April 2016.
Tesco said the move had been made following changes in customers’ shopping habits due to the growth of online shopping. It added that staff will be freed up to replenish products on the shelves overnight, which will mean better availability of products and better looking stores when they open their doors to customers each morning.
Tony Hoggett, retail director for Tesco added: “We’re always thinking about how to serve our customers better in each of our stores and with the growth of online grocery shopping, these stores saw very few customers during the night.
“It makes much more sense for colleagues at those stores to focus on replenishing the shelves instead and making sure they’re fully stocked when they open their doors at 6am.
“We’ll continue to make changes in store in ways that will make shopping at Tesco a better experience for our customers, at the times they want to shop.”
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Today, we've got some tantalizing performance specs on the future Porsche Mission E, electric-car lessons from California, our monthly green-car deals roundup, and a ringing decision in favor of renewable energy. All this and more on Green Car Reports.
Mazda has essentially confirmed that it's providing rotary range extenders for Toyota electric cars, which launched the peculiar e-Palette electric shuttle at CES yesterday.
Just as the second generation of the pioneering electric car arrives at U.S. dealers, Nissan has delivered its 300,000th Leaf.
We asked our Twitter followers how optimistic on efforts to address climate change they were; results were mixed.
Not only does California lead the nation in electric cars, but it can teach other states a few lessons on how to do it—and perhaps even teach itself a few.
We've got our monthly roundup of best green-car deals on electrics, plug-in and regular hybrids, even diesels and high-fuel-efficiency conventional models.
Porsche has confirmed some new performance specs on its Mission E electric car, and they're not unimpressive.
The U.S. energy regulation commission has decisively rejected a bailout for coal and nuclear power generation—and projected renewable energy could double by 2020.
Toyota plans to integrate Amazon's Alexa voice interaction into certain 2019 models.
Finally, another show, another all-electric three-wheeler: the Vanderhall Edison2 proposes to beat British legend Morgan's three-wheeled EV3 to the punch.


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ISLAMABAD: Wheat flour is costlier in Karachi than in Islamabad or Lahore but people of the city can be at ease about having the cheapest supply of rice in comparison to the rest of the country. A plate of daal chawal (lentils and rice), with the high prices of both commodities across the country, is cheaper in Lahore and Karachi.
A price comparison of basic food commodities is available from Federal Bureau of Statistics data. Among major cities, the people of Islamabad fare the worst when it comes to prices of daily household items - making the capital the most expensive city.
The difference in Islamabad prices was visible in a comparative analysis with Rawalpindi, where the trend remained in line with other cities of Punjab.
While consumers across the country remained under stress due to a rise in prices throughout the first six months of the year 2010-11, for the consumer in Islamabad, the burden was up an extra notch.
Vegetable and food vendors in Islamabad were charging double the rate in the Sunday and Friday bazaars, while food prices of these have relatively fallen in the rest of the country, including Karachi.
Red meat is the most expensive in Karachi — a blow to meat lovers — with mutton selling at Rs463 per kilogram and beef Rs230 a kilogram.
In Lahore, beef is sold at Rs199.11 but in Islamabad it is priced at Rs220 per kilogram. Purchasing mutton from Rawalpindi would be a better option for those living in either of the twin cities, as it is Rs439.17 in Rawalpindi and Rs444 per kg in Islamabad. The prices of sugar (Rs72 per kilogram), petrol (Rs73 per litre), diesel (78 per litre) and telephone calls (3.59 per unit) are the same throughout the country, according to the data.
While the Consumer Price Index of December 2010 decreased by 0.51 per cent in comparison to November that year, it increased by 15.46 per cent over the corresponding month of the previous year. Overall inflation increased last year but a small decrease was recorded in the first month of 2011.
Published in The Express Tribune, February 8th, 2011.
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Fort Lauderdale-based Maroone USA announced in December that Roger Dean Chevrolet in West Palm Beach is now Mike Maroone Chevrolet. After partnering with Patty Dean, daughter of Roger Dean, in 2017 to jointly own and manage the leadership, Maroone USA is now assuming full ownership.
“Roger Dean Chevrolet has served West Palm Beach and the surrounding communities for more than 60 years. We look forward to building upon the rich legacy of the Dean family,” said Fort Lauderdale resident Mike Maroone, CEO of Maroone USA.
Mike Maroone is enhancing the dealership with the addition of Preferred Owner Advantages such as a money-back guarantee, free delivery anywhere in Florida, and a one-year service guarantee. Like all Mike Maroone dealerships, it will keep guests and associates safe during the pandemic through its Commitment to Clean initiative.
The dealership at 2235 Okeechobee Blvd. offers new cars from Chevrolet and pre-owned vehicles and service on all makes and models.
South Floridians are familiar with the Maroone name. The first Maroone dealership, Maroone Ford, opened in Miami in 1977. The family has also supported the community, as shown by the recently named Maroone Cancer Center at Cleveland Clinic in Weston. The company also has six dealerships in Florida and Colorado representing Chevrolet, Ford, Honda and Volkswagen.


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Vision Express urges residents to prioritise regular eye tests
Vision Express is urging Gloucester residents to take better care of their eye health, after over 90% of visitors to its Vision Van were revealed to be overdue an eye examination.
Members of the public were invited to take advantage of the national optical retailer’s free eye test offer on board its Vision Van, as it opened its doors in Kings Square on 28 June, as part of a UK tour to mark Macular Week 2018 (25 June – 1 July) – following research revealing over 800 people are suffering from the effects of age-related macular degeneration (AMD) in the city.
The health initiative revealed out of those tested on board the Van, 94% were overdue an eye test, with more than one in 10 (12%) admitting to never having had an eye examination. Over half (53%) were revealed to be walking around with outdated prescriptions and 6% were referred for further medical attention.
Richard Amson, a 48-year-old local, confessed he hadn’t had his eyes tested for 16 years. "I’ve never been too bothered about having regular eye tests, but I now know, from visiting the Vision Van, that they recommend having one every two years,” he commented. “The Vision Van is convenient and there’s a lot of information available. I didn’t know what AMD was before today, but I now know that an eye test can help detect it.”
Christopher Breed, 44, was also unaware of AMD, and said: “After visiting the Vision Van I now know what the symptoms are and what to keep an eye out for. My last eye test was about four years ago, but I realise now you should have them regularly. Knowing what I know now about macular degeneration, it has encouraged me to have regular eye tests.
“The Vision Van is great and everyone on board is really friendly and helpful. I would encourage people to go ahead and get an eye test done. It doesn’t take very long, and you need your sight at the end of the day, so go ahead and get them checked.”
Representatives from the Macular Society, a Vision Express charity partner, have joined the Vision Van team this Macular Week, to help the national optician put the spotlight on AMD, the most common form of sight loss in the UK. AMD is increasingly common in those aged over 60, and it currently affects more than 600,000 people in the UK with another 200 new cases detected every day. In Gloucester alone, almost 4,000 have a heightened risk of developing AMD, due to drusen – yellow deposits under the retina.
AMD affects the macular, near the centre of the retina, and causes loss of central vision. For a minority of people drugs injected into their eyes can limit the damage caused by AMD, but they are not a cure and the condition is largely untreatable.
Jonathan Lawson, Vision Express CEO, added: “It’s been great to have our charity partner, the Macular Society join us during our Vision Van tour and to help us raise further awareness of macular degeneration. The reaction in Gloucester demonstrated that there’s a real need for initiatives like this, especially with such a high percentage found to be neglecting their eye health. Most people we spoke to were not aware of AMD or of the fact an eye test can help detect so many health conditions, but, thanks to our team, they walked away from their Vision Van visit with more knowledge and awareness.”
About Vision Express
Vision Express is one of the largest optical retailers in the UK and part of GrandVision, the global leader in optical retail operating in more than 40 countries, spanning over 6,500 stores and online.
With almost 600 stores nationwide, Vision Express first opened its doors in Newcastle in 1988. Built on a passion for the profession, it has gone from strength to strength, driven by a commitment to unparalleled customer service and providing the best individual optical care, the right product and great value. Customers can select from a vast range of genuine designer brands and the latest technology lenses, through to complete glasses from £39.
With around 6,000 employees, Vision Express makes a significant difference to the communities it operates within, and the organisations it chooses to support. As part of its commitment to Vision. Taken Seriously, and as a responsible and caring retailer, Vision Express is proud to partner with a range of healthcare charities, which have touched the lives of customers and teams. These companies provide vital support to people affected by vision-related conditions. They are part of the Vision Express Charity Project and include:
- Childhood Eye Cancer Trust (CHECT)
- International Glaucoma Association
- Macular Society
- Stroke Association
- Temple Street University Hospital


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Hyundai Backs Ride-Finding App Migo
The app connects users to multiple transportation services.
Migo, an app that connects users with multiple types of transportation services, has raised $9 million in Series A funding, according to a company press release. Among the new investors are rental giant Enterprise and Hyundai, which is investing through its CRADLE (Center for Robotic-Augmented Design in Living Experiences) venture-capital arm.
Launched in September 2017, Migo acts as a clearing house for transportation services. Users can access ride-hailing services Uber and Lyft, Daimler's Car2Go car-sharing service, Lime bicycle and e-scooter rentals, as well as taxi cabs and public transportation, without switching apps. The company claims to have more than 80,000 users.
"We know from our data that brands matter in the Mobility-as-a-Service (MaaS) space, but also that people move around and are interested in easily finding solutions that are appropriate to them in the moment," Jeff Warren, founder and CEO of Migo, said in a statement.
Migo started out in Seattle and Portland, Oregon, but the company says it is now available in more than 75 North American cities, including Atlanta, Boston, Chicago, Denver, Los Angeles, New York, Toronto, and Washington, D.C. However, Migo is only available to iOS users in most cities. An Android version is available as part of a limited beta test in Seattle, but Migo hasn't done a wider release yet.
Hyundai is using investment to build bridges with tech companies developing mobility-related apps and services. The company previously invested in Indian car-sharing service Revv and Southeast Asian ride-hailing service Grab, which recently acquired Uber's operations in the region.


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Dutch telecoms and cable group Altice, chaired by founder and controlling shareholder Patrick Drahi, is expecting to receive a hefty fine from EU antitrust regulators.The fine is for concluding its 2015 acquisition of telecommunications operator PT Portugal before notification or first waiting for official approval. Two years ago, France’ s competition regulator imposed an 80 million euro fine on Altice for engaging in plans to buy SFR and Virgin Mobile before getting the necessary clearance. According to a Reuters report, the European Commission’s decision could come as early as next week, with the timing subject to change.
Jumping the gun
The sanction by the EU competition enforcer will send a warning to companies failing to respect procedural rules, such as jumping the gun and taking control of their targets or giving incorrect data before gaining the regulatory go-ahead. Commissioner Margrethe Vestager, in charge of competition policy, said: 'If companies jump the gun by implementing mergers prior to notification or clearance, they undermine the effective functioning of the EU merger control system. The Statement of Objections sent to Altice shows how seriously the Commission takes breaches of the rules designed to protect the merger control system.'
The Commission, which accused Altice of the violation in May last year, can impose fines up to 10 per cent of a company’s global turnover for breaching EU rules. The company posted 23.43 billion euros in revenues last year. Last year, Facebook was fined 110 million euros last year for giving misleading information during a vetting of its deal to acquire messaging service WhatsApp in 2014. Also last year, they charged Merck and Sigma-Aldrich, General Electric and Canon, with breaching EU procedural rules in their respective merger deals.


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A new mobile chain has popped up in Ontario, and not only that, its producing its own brand of smartphone.
On August 5, K-Mobile opened its first store — and flagship location — in East York Town Centre joined by Ontario Premier Kathleen Wynne. The shop is one of 250 that the company plans to build across Ontario within the next two years.
According to a press release sent to MobileSyrup, K-Mobile is a “one-stop experience, offering service plans, smartphones and accessories with no pressure or gimmicks.”
The release also states that K-Mobile has signed up with Koodo and Virgin Mobile as a “multi-carrier,” indicating that the company is not a telecom, but rather a retailer that distributes plans from a variety of carriers, along the lines of Wireless Wave or Tbooth (both now owned by Bell and Rogers).
In addition to cutting the ribbon at the new store, K-Mobile celebrated the launch of its own K2 smartphone.
The phone retails for $299 and features an octa-core 1.7GHz MediaTek MT6592 processor, 2GB of RAM and a 13 megapixel rear-facing camera capable of 1080p video recording. The handset also has two SIM card slots, a 2,350 mAh battery and a 5-inch 1280 x 720 pixel display. While the specs seem too good to be true for the unlocked device’s price, it must be noted that it only runs Android 4.4.2 for now.
Though the outdated OS may be a disappointment to some, an unboxing video posted to the brand’s Facebook page reveals a bonus — the phone comes along with a surprising number of accoutrements, including a case with a circular watch face cutout on the front, a screen protector, two batteries and earphones.
On its website and across various social platforms, K-Mobile has been touting the K2 as “Canada’s first Android phone,” though after being questioned by Facebook users in the comments of its unboxing video, the brand had to admit that the honour actually goes to the BlackBerry Priv.
But if it isn’t necessarily breaking ground in Canada when it comes to nationally-built Androids, it certainly boasts impressive specs for an attractive price. For those intrigued, K-Mobile states the phone is now available in its East York Town Centre location and online– though the brand’s website is currently under maintenance.
As if the ambitious launch of both store and brand wasn’t enough, K-Mobile also announced its plans to hire 100 Syrian refugees, 10 percent of the 1,000 total hires it’s expecting to make by 2018. Currently, the brand has 100 employees. Its parent company Kimcot was founded in 2001 by current CEO and long-time entrepreneur Shami Muir.
“After working in mobile industry for almost two decades and listening to customers, I knew that they wanted a better one-stop shop experience when mobile shopping. I’m proud that we will be expanding our stores as well as hiring and training 1,000 employees including 100 Syrian refugees,” said Munir in the press release.
“I believe these newcomers will be some of the hardworking employees we will have, and meaningful employment is essential for their settlement success.”
Update 08/08/16: K-Mobile has clarified that the 17 addresses where customers can pick up a K2 device are Wind Mobile dealer locations owned by its parent company Kimcot.
Related: Virgin Mobile joins Fido and Koodo in offering wireless home phone services


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About 16 million pay TV subscribers will be added in Africa between 2022 and 2028 to take the total to 57 million. This is according to the latest report by Research and markets.
Euromonitor’s annual report aims to help organizations stay ahead of disruption, predict consumer shopping motivations and fulfil unmet consumer needs.
Total funding invested into tech startups on the continent reached $6.5B, an increase of 8% vs 2021, spread across 764 deals - compared to 724 rounds in 2021.
A major new report by World Travel & Tourism Council (WTTC) and Trip.com Group, together with Deloitte, reveals a heightened appetite for sustainable tourism amongst consumers, with 69% of travellers actively seeking sustainable travel options.
Included in the report is an in-depth look at the challenges facing nations, especially smaller and developing nations, to gaining equal access to digital economies.
It is both stability and change in the Allianz Risk Barometer 2023. Cyber incidents and Business interruption rank as the biggest company concerns for the second year in succession.
Growing dependency on smartphones, increasing penetration of the internet and the thriving media and entertainment industry are among the key factors stimulating the growth of the online music streaming market worldwide.
Low-carbon investments to rise by $60b in 2023 as inflation weakens, hydrogen and CCUS spending to surge, Rystad Energy
Spending on low-carbon projects will increase by $60 billion this year, 10% higher than 2022, led by wind developments but helped by a significant rise in funding for hydrogen and CCUS infrastructure, Rystad Energy research shows.
Online sales were boosted by Black Friday, with all banks reporting massive increases in card and online spending on what has become one of the biggest shopping days of the year.
An increase in the adoption of online payment methods is expected to propel the growth of the buy-now-pay-later market going forward.
Over half of businesses in Nigeria planning to expand locally despite supply chain and cyber-security challenges, report
As part of the Equinix 2022 Global Tech Trends Survey, 100 business leaders in Nigeria were interviewed about the opportunities and challenges their organizations are facing – and their plans for the future.
The Global Bluetooth 5.0 Market size is expected to reach $7.6 billion by 2028, rising at a market growth of 11.2% Compound Annual Growth Rate during the forecast period.
To promote inclusive and sustainable development, Nigeria needs to fix its public finances, World Bank
Macroeconomic and fiscal reforms are urgently needed to lift Nigeria’s development outcomes, which are severely constrained by inefficient use of resources, argues the new Nigeria Public Finance Review report.
The global population was projected to reach 8 billion by 15 November 2022, according to the UN’s recently-released World Population Prospects 2022.
[Column] Renan Ozyerli: Equitable access to healthcare should be a bigger priority as the world emerges from COVID-19
The World Health Organization (WHO) has said the world is at “the beginning of the end” of the COVID-19 pandemic with the numbers of deaths and cases slowing considerably.
Africa’s youth prefer using local innovations and believe that the next tech billionaire could come from the continent, according to the recently launched Africa – innovator or imitator? Exploring narratives around Africa’s technological capabilities report.
Families around the world can expect to spend up to 156% of their monthly income on Christmas this year, according to the latest results from the WorldRemit Cost of Christmas study.
Businesses will face a historically broad and deep set of risks in 2023, posing interconnected and existential threats across geographies and sectors, says specialist risk consultancy, Control Risks.
New study shows $100 billion in climate change adaptation investment opportunities in Africa by 2040
Private investment opportunities to support climate change adaptation against floods and droughts in Africa could reach a total of $100 billion by 2040, according to a new IFC study.
Study shows digital tools can help farmers in Africa fight climate change, but need more help from government
African farmers urgently need government support to increase their use of digital tools. This is according to a new survey conducted by Savanta ComRes, commissioned by Vodacom.
Based on previous World Bank research on the relationship between economic growth and reductions in the number of people living in poverty2, this GDP per capita growth implies that countries with successful mobile money adoption could reduce poverty by around 2.6%.
Fintech startups in Africa grew 81% in 2021, with South Africa, Nigeria, and Kenya emerging as key hubs on the continent, found a Mastercard study on the state of fintech in African markets.
Improved access to affordable trade finance could increase exports and imports by $26 billion annually in West Africa, report
The analysis showed that while trade flows have been on the rise in the four countries, their potential remains constrained by limited and costly access to trade finance.
The metaverse, AI, 5G, and data analytics are making hyper-personalized experiences possible for consumers, which, in turn, fuel the demand for a 24/7 digital experience.
The gauge for world food commodity prices declined for the sixth month in a row in September, with sharp drops in the quotations for vegetable oils more than offsetting higher cereal prices, according to a new report released today by the Food and Agriculture Organization of the United Nations.
With the growing adoption of cloud-based technology among companies, cyber-crime cases have increased significantly. Data breach cases have also increased consequently in the last few years.
According to data presented by AugustaFreePress.com, with rising costs and low inventory plaguing the industry, global car sales revenues are expected to plunge by $200bn this year.
Uganda will host the 7th edition of the Africa SME Champions Forum, the event, co-hosted by the Arab Bank for Development in Africa (BADEA) and empowered by AfricSearch, will bring together 300 of Africa’s top SMEs, institutional funding organisations, venture capitalists, angel investors and ecosystem builders.
Venture capital and private equity investors believe increased innovation in the delivery of internet connectivity in Africa will help drive dramatic expansion in connecting the continent, new research from blockchain-based mobile network operator World Mobile shows.
87 per cent of consumers prefer to use mobile messaging to communicate with travel companies, report
Gen Z, Millennials and Gen X also all place mobile messaging as their top method of communication with travel brands, showcasing that younger generations are the most inclined to interact with brands via mobile.
In this report, the years 2019 and 2020 are considered as historical years, 2021 as the base year, 2022 as the estimated year, and years from 2023 to 2027 are considered as the forecast period.
Commissioned by the United Nations Economic Commission for Africa (ECA), the latest edition of the biennial African Women’s Report analyses the digital finance ecosystem in Africa to examine all its components and how they impact women’s economic prospects.
GDP growth, international investment spurs expansion of sub-Saharan Africa’s reinsurance market, report
Barriers to entry remain high in many African reinsurance markets and include protectionist local regulations and the presence of state-owned reinsurance companies or specialised state-sponsored pools.
Natural Gas Liquids (NGLs) are those hydrocarbons in natural gas that are separated from the gas as liquids through various processes and the products thus obtained are majorly ethane, propane, butanes, pentane and pentane plus.
The study of 9,000 global cybersecurity professionals also looks to the future of security and the technology poised to revolutionize security operations.
The major drivers of the chatbot market include the need to reduce operational costs, rapid growth in artificial intelligence, and the increasing demand for virtual customer assistants.
The global 5G smartphone market in 2021 was valued at $32.21 billion. The market is expected to reach $4167.07 billion by 2027 according to a report by Research and Markets.
According to Kaspersky Security Network data for corporate users, the number of backdoor computer malware detected in Q2 2022 in South Africa, Kenya and Nigeria increased significantly compared to the previous quarter.
A Gartner customer service and support (CSS) survey of 50 respondents conducted online in January and February 2022 revealed 54% of respondents are using some form of chatbot, VCA or other conversational AI platform for customer-facing applications.
Forward looking regulatory policies to unlock the potential of digital economy in Africa, Vodacom policy paper
The paper highlights that one of the keys to unlocking Africa’s digital economic growth, and resulting digital financial inclusion, is to create an enabling regulatory environment that supports the secure flow of data between jurisdictions.
Africa market intelligence provider Trendtype partners with Content Catalyst to launch research portal
Trendtype has partnered with specialist technology provider Content Catalyst to launch an interactive research portal using industry-leading content delivery service, Publish Interactive.
To help businesses and brands accelerate their growth and win across the continent, Kasi Insight, Africa’s decision’s intelligence company and Creative VMLY&R Kenya, a marketing agency, have announced a new partnership to help brands win over consumers with smart and data driven marketing.
Exceptional integration of technology and internet-based services in the healthcare sector will drive the Global AI in Healthcare Market in the next five years.
Côte d'Ivoire has raised its reputation as a leading party for investment when considering francophone Africa but also considering the continent as a whole.
Africa is facing a growing risk of outbreaks caused by zoonotic pathogens, such as the monkeypox virus which originated in animals and then switched species and infected humans.
The World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector in Nigeria is expected to create 2.6 million new jobs over the next decade, doubling the number of those employed within the sector by 2032.
However, the company’s newly released Quarterly Global Mobile Phone Tracker shows that Kenya’s overall mobile phone market was down 9.0% YoY, with feature phone shipments declining 31.6% YoY.
The online education sector mainly consists of online university education, online learning platforms, and professional certificates.
The world’s total wealth will continue to increase for the next several years. Research findings point to the world’s total wealth growing by almost $80 trillion in the next five years.
Following the rising levels of unemployment among young South Africans, the UK-South Africa Tech Hub Launch League initiative undertook a research project.
African business leaders are forecasting a surge in spending on tech start-ups as foreign direct investment and improved internet connectivity helps establish the continent as a tech superpower, new research for blockchain-based mobile network operator World Mobile shows.
The global technology research and consulting firm's latest Worldwide Quarterly PCD Tracker shows that an estimated 5.6 million units will be shipped across the region in Q2 2022.
The growth of the global travel insurance market is driven by factors such as rising tourism demands post the pandemic are boosting the growth of the travel insurance market.
As smartphones and the internet become more prevalent in African countries, the population has started to shift towards online shopping
Kenya’s growth expected to slow in 2022 due to ongoing drought and Ukraine crisis, World Bank report
Kenya’s real gross domestic product (GDP) is projected to grow by 5.5 percent in 2022 and 5.2 percent on average in 2023–24. This growth rate, while still strong, will be a moderation following a remarkable recovery in 2021 from the effects of the pandemic.
In 2022, predictions for the South African youth unemployment rate are projected to be as high as 64%. The World Economic Forum (WEF) estimates that by 2025, 85 million jobs worldwide may be displaced by technological disruption. However, as many as 97 million new jobs may emerge.
The growth of African banks in the ranking is facilitated by focusing on digital payments and online banking.
Sub-Saharan Africa represents one of the last major growth regions globally for mobile services, forecast to contribute 29% of global subscription growth this decade, according to the latest research from Strategy Analytics.
Africa’s urbanization rate has reached a record high with the continent being the most urbanized globally.
Intermediary cities are home to about 15% of Africa's population. But their growth is accelerating.
Policymakers, the report urges, must consider the interdependence of online services and other growth sectors on the underlying infrastructure investment.
With more and more businesses moving into the e-commerce space, it's increasingly becoming essential to curve a way for your online business to stand out and thrive among competitors.
Consortium of global multilateral development banks calls for measures to support trade continuity in Sub-Saharan Africa
The Pulse check report issued by a consortium of multilateral development banks and trade research institutions, recounts the views of sub-Saharan banks on multi-lateral development banks’ responses to uphold a well-functioning trade finance market.
Mastercard has released a white paper revealing how gig work across East Africa is helping to drive economic growth by facilitating economic opportunities, improving livelihoods, and acting as a buffer against unemployment.
The Absa Purchasing Managers’ Index (PMI) posted a robust increase to 57.3 index points in August, up from 51.2 in July.
From the analysis, the increase in the ransomware-as-a-service model increases the reach of ransomware.
Mobile money has evolved from a narrow product service in a few markets to a global financial service. According to MoneyTransfers.com, registered mobile money accounts stood at 1.35B by the end of 2021.
SES announced the results of its annual Satellite Monitor market research, the industry’s premier accounting of satellite’s TV reach, which underscores SES’s position as the leader in enabling content delivery via satellite directly and indirectly.
Increased investment in agribusiness, energy and housing could grow Uganda’s economy, IFC - World Bank report
A report published by the IFC and the World Bank found that Uganda could grow its economy, create jobs, and strengthen its trade position in East Africa by increasing private sector investment in its agribusiness, energy, and housing sectors.
Gas output from Sub-Saharan Africa set to double by 2030, driven by deepwater developments, Rystad Energy
Untapped natural gas supplies in Sub-Saharan Africa are set to be unleashed this decade, with output more than doubling from 1.3 million barrels of oil equivalent per day (boepd) in 2021 to 2.7 million boepd in 2030 due to vast undeveloped deepwater resources.
As smartphones have become the norm worldwide, they have also replaced desktops as the preferred mode of accessing the internet. According to the numbers presented by StockApps.com, 54.86% of global web traffic came through mobiles.
The Food and Agriculture Organization of the United Nations (FAO) reports that the gauge for world food prices went up in January, largely catalysed by supply-side constraints for vegetable oils.
Over the past two decades, important progress has been made in implementing services to prevent mother-to-child (vertical) transmission of HIV and to access and uptake of HIV testing for infants and children in countries with a high HIV burden.
What is business branding, how does it increase sales, why should you create a brand for your small business? These are some of the questions this article aims to answer.
Standard Bank's impressive increase saw it inch ahead of its South African compatriot, First National Bank (brand value up 18% to US$1.581 billion), to claim the title with a margin of just US$2 million.
Cyber perils outrank Covid-19 and broken supply chains as top Africa and Middle East business risk, Allianz Risk Barometer 2022
Cyber perils are the biggest concern for companies in Africa and Middle East, South Africa, Nigeria and around the world in 2022, according to the Allianz Risk Barometer.
Moroccan economic growth could accelerate with full implementation of broad-based reforms, World Bank
In order to achieve broad-based growth and job creation, the sustained implementation of a multifaceted and ambitious reform agenda will be essential, according to the World Bank’s Morocco Economic Monitor, January 2022.
Global oil and gas investments to hit $628 billion in 2022 led by upstream gas and LNG, Rystad Energy
Global oil and gas investments will expand by $26 billion this year as the industry continues its protracted recovery from the worst of the pandemic and the hurdles imposed by the Omicron variant.
In its research, OBG surveyed executives based across the economic sectors, with financial services and energy highest in terms of representation.
Africa poised to become fastest-growing and most sophisticated market in the world, Kearney Global Retail Development Index
Global management consultancy firm Kearney has released its 2021 Global Retail Development Index (GRDI), finding significant potential for investors and international retailers amongst emerging retail markets.
The Global Proximity Payment Market size is expected to reach $26.4 billion by 2027, rising at a market growth of 11.6% Compound annual growth rate, CAGR, during the forecast period according to a report by Research and Markets.
The global bamboo market size is expected to reach $82.90 billion by 2028. It is expected to expand at a compound annual growth rate, CAGR, of 5.7% from 2021 to 2028 according to a new report by Research and Markets.
Worldwide artificial intelligence (AI) software revenue is forecast to total $62.5 billion in 2022, an increase of 21.3% from 2021, according to a new forecast from Gartner, Inc.
Wingie, a Germany-based flight-booking website, has released new data on changing trends pertaining to air travel in the Middle East and North Africa (MENA).
The onset of the COVID-19 pandemic not only affected people and communities, but also impacted commercial property values across the world. This report looks at the effect of the pandemic on property values in Africa.
Sub-Saharan Africa is set to emerge from the 2020 recession sparked by the COVID-19 pandemic with growth expected to expand by 3.3 percent in 2021. This is one percent higher than the April 2021 forecast according to the latest edition of Africa Pulse.
The primary drivers for the market growth include increasing automation in the agriculture industry and the shortage of manual labor in the sector.
The GSMA has launched its global State of Mobile Internet Connectivity Report 2021 showing that, despite the COVID-19 pandemic, more than half of the world’s population is now using the mobile internet.
The total value of Africa’s top 150 most valuable brands has declined by US$5.5 billion (12%) from $45.5 billion in 2020 to $40.0 billion in 2021, according to the latest Brand Finance Africa 150 2021 report.
Dubai has emerged as a key export gateway for stationery goods which are in spiralling demand throughout Africa, according to a new report by market information advisory 6Wresearch.
Infrastructure as a Service, one of the segments analyzed in the report, is projected to record a 18.4% CAGR and reach US$449.3 Billion by the end of the analysis period.
Despite having to contend with gender disparities, women entrepreneurs in South Africa are bridging the digital divide and have adopted and integrated digital solutions into their businesses on a scale comparable to their male counterparts.
Nigeria data center market will grow at a Compound annual growth rate, CAGR, of 17% during 2021-2026 according to a report by Research and Markets.
The global drone insurance market is expected to grow from $1.06 billion in 2020 to $1.13 billion in 2021 at a compound annual growth rate, CAGR, of 6.1% according to a new report by Research and Markets.
29% of corporate users in Kenya experienced financial malware attacks in the first half of 2021, report
Although Kaspersky’s research shows that the overall number of financial malware attacks in Kenya has decreased in the first half of 2021, when compared to the same period in 2020, 29.3% of the 7 962 attacks recorded in the country targeted corporate users.
Challenging economic factors in 2020 made it a difficult year for Kenyan insurers and reinsurers.
Leading global marketing measurement, AppsFlyer, has launched a report with Google that reveals a booming African mobile app market, propelled by a growing fintech space.
The Mastercard New Payments Index shows 96% of Nigerian consumers will consider using at least one emerging payment method, such as cryptocurrency, biometrics, contactless, or QR code, in the next year.
Mapping Africa’s startup landscape between 2014 and 2020, the report provides data and analysis on venture capital (VC) deal activity in Africa in 2020 along with information about the types of investors that have participated in those deals. The report also includes case studies covering prominent investments across Central, East and North Africa.
Internet Exchange Points are critical in lowering connectivity costs in Africa, Internet Society report
A new report published by the Internet Society outlines the state of Internet interconnection in Africa and the critical role Internet Exchange Points (IXP) play in improving access and lowering costs.


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Have you made any impulsive online purchases recently, and how often do you regret them? Once that initial high wears off, the buyer's remorse kicks in.
According to a recent survey by SimplicityDX, as many as 48% of consumers engaged in unplanned online purchases recently, while 56% expressed regret regarding their impulsive buying decisions.
In its commerce study titled "The Impulse Trap," the edge shopping company SimplicityDX showed that among the 1,000 online shoppers surveyed in the United States that had recently made an impulse purchase, 45% chose to retain the product despite their feelings of regret regarding the impulsive buying decision.
“Impulse purchases are bad for shoppers and bad for brands. More than half of impulse shoppers aren’t happy, and brands often see higher product returns and damage to their brand image. It gets worse because 39% of consumers will then share their negative experience with friends or on social,” explained Charles Nicholls, industry veteran and analyst at SimplicityDX Academy.
Why do consumers regret their purchasing decision?
When delving into the causes behind the consumer's regret linked to impulse buying, 36% expressed that their dissatisfaction stemmed from poor quality. Another 26% mentioned that the product didn't match the appearance shown in its online image.
Moreover, around 25% said that they ultimately didn't have a genuine need for the product or wouldn't make use of it, while 23% cited their perception of the purchase as being of poor value. Additionally, 20% indicated that the product's fit was unsatisfactory, while 17% highlighted that their decision was influenced by an inability to comfortably afford the item.
Why not return the products?
Findings from prior research conducted by SimplicityDX Academy shed light on the reasons why more respondents didn't return the products. Around 23% of shoppers who made purchases on social platforms expressed uncertainty about how to initiate the process of returning items for a refund. Moreover, the act of returning products acquired through social media channels tends to carry many difficulties. Additionally, only 17% of consumers showed a willingness to make purchases on social media again, after returning a product.
Interestingly, research carried out at SimplicityDX Academy reveals that the likelihood of a first-time website visitor committing an impulse purchase is relatively low, at just 0.25%.
“Impulse purchases on social media are not good for brands in other ways too: these sales don't result in new customers being acquired, rather products sold to anonymous dissatisfied buyers. The secret to brand profitability is building a base of customer fans that come back to buy again and again, and tell their friends. This requires delivering on the promise every time. It also needs a direct relationship with the customer to drive those critical repeat sales that unlock profitability,” continued Nicholls.
Research highlights the imperative for marketers and digital agencies to enhance the customer experience journey from initial discovery on social platforms to the ultimate purchase on retail brand websites. Key strategies are the following:
- Channel traffic directly to the brand's e-commerce site for purchasing.
- Stay clear of promotions that encourage immediate buying within ads, as these can trigger impulsive purchases and subsequent regret.
- Put emphasis on the measurement of Customer Lifetime Value, recognizing it as a pivotal metric.
- Establish a seamless connection between social media and commerce by making use of social storefronts.
- Ensure a consistent alignment between the imagery on social media campaigns and one featured on e-commerce platforms to prevent failure to meet expectations.


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When Epic Games last year activated a hidden alternative system to buy upgrades in Fortnite on iOS and Android, both Apple and Google responded by removing the game from their stores and shutting down the company’s account. Epic countered by immediately filing a lawsuit against the companies.
Apple soon filed a lawsuit, and a month ago, the verdict fell, with Apple winning by nine out of ten points. Epic appealed, and now Apple has done the same.
The dispute with Google has been slower. Last summer, 36 states filed a joint lawsuit against the company claiming that the Play Store violates US competition law, and now Google has finally chosen, like Apple, to file a lawsuit against Epic, reports Zdnet.
Google’s lawsuit alleges that Epic has very knowingly violated its agreement with Google, and has made money from the breach of contract.
The company writes that, unlike Apple, it has no problem with external payment solutions if Epic distributes its game itself, but that Epic chose to enter into an agreement to be able to distribute it via the Play store, which means, among other things, that the buy-in-the-app must use Google’s system.
Google wants compensation for the lost revenue from all transactions made with Epic’s own payment solution.


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First British commercial product to be tested on live SARS-Cov-2, the virus causing COVID-19
Multi-surface protector kills up to 99.9999% of pathogens in under 30 seconds and provides a protective barrier for up to 48 hours
British scientific breakthrough can turn the tide against hospital infections and superbugs, while supporting vaccines in the fight against COVID-19 and saving the NHS billions
GermErase, a new brand at the frontline of protecting against COVID-19, infections and superbugs, has launched its first product range.
Available as a cleaning spray and a hand spray with wipes, with aerosols and hand wash to follow, GermErase is a unique formulation that kills up to 99.9999% of pathogens, including the virus that causes COVID-19, in under 30 seconds – faster and more effective than the next best product. It bonds to surfaces to provide total protection without any reduction in performance for up to 48 hours and remains effective for 28 days.
GermErase has been tested to global standards in independent facilities at the University of Southampton, including on live strains of SARS-Cov-2. The British business has invested £1m in testing the product.
As 99.9% water, GermErase is safe and has low toxicity, meaning it does not irritate skin in the way alcohol gels can and, unlike alcohol gels, is not flammable. It uses common ingredients that have already been approved for medical and cleaning purposes and is ready to distribute at scale across the country via specialist cleaning supplier, Denis Rawlins Ltd.
Professor Bill Keevil, Professor of Environmental Healthcare at the University of Southampton, comments, “An invention like this does not come across your desk very often. We have found that GermErase demonstrates remarkable breadth of efficacy against bacteria and viruses, speed of kill, residual efficacy and shows no evidence of antimicrobial resistance.”
GermErase is more effective than alcohol gel and, alongside vaccines, can help to turn the tide against COVID-19 and a broad spectrum of other dangerous pathogens. While alcohol gels and sanitisers – products recommended by the World Health Organisation – are dependent on concentration levels and a lengthy period of application, GermErase is easy to use and completely kills the virus within seconds with a simple spray.
The products can be used by medical professionals in hospitals but are also quick and easy to use by private sector businesses – giving employers and employees the confidence to return to work safely and unlock the economic recovery in the UK. GermErase will launch a consumer product range for the general public in Spring 2021.
The urgency of antibiotic resistance is well known among the medical community and increasingly by wider society. GermErase provides a defence by preventing infection, instead of relying on the development of new cures and antibiotics.
Inspired by the most human of stories, GermErase was invented by Rob Scoones, a former retail business owner. After losing someone very close to him, Rob dedicated his life to eradicating the superbug crisis in our hospitals and worldwide. Through the relentless pursuit of this vision, Rob developed the GermErase product, combining common ingredients in a way that has delivered remarkable efficacy against all known pathogens, including SARS-Cov-2.
It has been estimated that a 10% reduction in infections and superbugs in hospitals would save the NHS £1bn annually. GermErase can kill and protect against all known infections and superbugs and is available to use throughout healthcare facilities immediately.
Matthew Higdon, Chairman of GermErase, comments, “Our intention is for GermErase to become the first line of defence against infection for hospitals, businesses and families across the country. This product will allow us to get our freedom back and live with peace of mind that we are protected against pathogens like Coronavirus. Our ambition is for this British breakthrough to represent a landmark moment in the fightback against COVID-19, infections and superbugs.”


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(KMSP) - Update (Jan. 31): Toys "R" Us says the Blaine store will remain open.
Toys "R" Us and Babies "R" Us announced they will be closing several stores in Minnesota.
In a letter, Chairman and CEO Dave Brandon wrote that the company launched a financial restructuring of the business last fall. Brandon points to "operational missteps" and "gaps in the experience," as problems the company hopes to address.
The reinvention of the Toys "R" Us brands "requires that we make tough decisions about our priorities and focus. To that end and following a top-to-bottom assessment of our business, we have decided to close a number of out U.S. stores," Brandon wrote.
According to reports, the Minnetonka, Blaine, Woodbury and Richfield locations will be closing.
The company also plans to convert a number of locations into co-branded Toys "R" Us and Babies "R" Us stores.
Toys "R" Us estimates store closing sales will begin in early February with the majority of locations closing mid-April.


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Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
CBS Corp topped Wall Street's quarterly revenue and profit estimates on Thursday as U.S. and international distributors licensed more of its shows.
Cisco Systems Inc reported its first rise in quarterly revenue in more than two years and forecast upbeat current-quarter profit, as the network gear maker's years-long efforts to transform into a software-focused company begins to pay off.
Cyber security firm FireEye Inc on Thursday reported its first-ever quarterly adjusted profit since going public in 2013, highlighting gains from the company's shift to a subscription model and its cost-cutting efforts.
Rupert Murdoch's Twenty-First Century Fox Inc trounced Wall Street estimates for quarterly profit and revenue on Wednesday, helped by increases in the fees it collects from cable and satellite distributors.
NEW YORK Business Wire, the corporate news release distributor owned by Warren Buffett's Berkshire Hathaway Inc, on Tuesday said it has been suffering for nearly a week from a cyberattack designed to disable it.
Western Digital Corp gave strong profit forecasts for the current quarter and the full year on Thursday and said the flash memory market would grow faster this year, easing investor jitters that the surging demand for memory chips was fading.
Semiconductor equipment manufacturer Lam Research Corp's quarterly profit and revenue topped analysts' forecasts, as chipmakers spent heavily on its machinery to make the most of booming demand for memory chips.
Texas Instruments Inc on Tuesday posted the slowest revenue growth in four quarters on softer demand for its chips used in communications equipment, disappointing investors who expected sales for automotive chips to drive strong results.
Tesla Inc shares recouped some of their losses on Thursday after falling as much as 3.6 percent, a day after it pushed back a production target for its much-anticipated Model 3 sedan yet again.
Jan 4 Tesla Inc shares fell 3.5 percent in premarket trading on Thursday, setting the company up to lose nearly $1.9 billion in market value after it pushed back a production target for its much-anticipated Model 3 sedan yet again.


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"It is not enough to know that there is a shadow government pulling the strings of the visible government- we must also act to expose it, and defeat it!"-Mark Matheny
Tuesday, December 6, 2016
McDonald’s Response to $15 Minimum Wage: Automation in Every Store
The New American December 6, 2016
It’s official: McDonald’s says that every one of its 14,000 stores nationwide will be replacing cashiers with automated touch-screen kiosks. They’re starting with stores where minimum-wage laws mandate the highest rates, such as Florida, New York, San Francisco, Boston, Chicago, Washington, D.C., and Seattle.
So the fast food giant is rolling out self-order kiosks, mobile pay options, an updated interior design, even table service. The changes are already starting to show up at locations in Florida, New York and Southern California, where 500 restaurants have been updated. Restaurants in San Francisco, Boston, Chicago, D.C. and Seattle will get upgrades in early 2017. Now, McDonald's loyalists will be able to place their customized order on a touch screen, take a seat and have their meal brought right over. Next year, they'll even have the option of mobile ordering.
That means that, eventually, more than 20 million customers every day will place their own orders at a kiosk or on a mobile device and then have them delivered by a human to their table. And it’s just a matter of time before those humans will be replaced by machines as well. Read the entire article