text:
Google has threatened to shut down its search engine in Australia – as it intensifies its lobbying against a bill that seeks to force it to pay news publishers for the reuse of their content.
Facebook would also be subject to the law. And Facebook already said it would ban the sharing of information about its products due to the passage of the law, while claiming that it has reduced its investments in the country due to the legislative threat.
“The principle of unlimited links between websites is fundamental for research. Coupled with the unmanageable financial and operational risk if this version of the Code were to become law, this would leave us with no choice but to stop making Google search available in Australia ”, Google warned today.
Last August, the tech giant took another shot at the proposal, warning that the quality of its products in the country could suffer and could cease to be free if the government tried to ensure that the Tech giants share advertising revenue with media companies.
Since last summer, Google appears to have changed course in lobbying, apparently abandoning its attempt to derail the law entirely in favor of an attempt to reshape it to minimize the financial impact.
His latest lobbying is aimed at trying to eject the most harmful elements (in his opinion) from the bill – while pushing his News Showcase program, which he hastily launched last year, as an alternative model for payments to publishers. that he would prefer becomes the vehicle for remittances under the Code.
Australia’s digital information code bill currently before parliament includes a controversial requirement that tech giants Google and Facebook pay publishers for links to their content – not just for display excerpts from text.
Yet Google warned Australia that charging it for “links and snippets” would disrupt the functioning of the Internet.
In a declaration At the Senate Economy Committee today, its Vice-Chairman for Australia and New Zealand, Mel Silva, said: “This provision of the Code would set an untenable precedent for our business and the digital economy. It’s not compatible with how search engines work or how the internet works, and that’s not just Google’s point of view – it was cited in many submissions received by this survey.
“The principle of unlimited links between websites is fundamental for research. Coupled with the unmanageable financial and operational risk if this version of the Code becomes law, that would leave us with no choice but to stop making Google search available in Australia. “
Google is certainly not alone in screaming scandal over a proposal to demand payments for connections.
Sir Tim Berners-Lee, inventor of the World Wide Web, warned that the bill “risks violating a fundamental principle of the Web by requiring payment for linking certain online content”, among other alarmed submissions to the committee.
In a written testimony, he continues:
Before search engines were effective on the web, following links from page to page was the only way to find material. Search engines make this process much more efficient, but they can only do it by using the web’s link structure as their primary entry. Links are therefore fundamental for the Web.
From what I understand, the proposed code aims to force selected digital platforms to negotiate and possibly pay to link to news content from a particular group of news providers.
Charging a fee for a web link blocks an important aspect of the value of web content. To my knowledge, there is currently no example of a legal payment requirement for links to other content. The ability to link freely – that is, without limitations on the content of the linked site and without monetary charges – is fundamental to the functioning of the web, its flourishing so far and its growth in the decades to come. .
However, it should be noted that Berners-Lee’s submission does not mention any excerpts. Not once. It’s all about the links.
Meanwhile, Google has just struck a deal with publishers in France – which they say covers payment for content snippets.
In the EU, the tech giant is subject to an already reformed copyright directive that extended a neighboring right for news content to cover the reuse of text snippets. Although the directive does not cover links or “very short snippets”.
In France, Google claims to only pay for content “beyond links and very short extracts”. But he did not say anything about the extracts in this context.
French publishers clearly defend European law Is cover the not-so-short snippets of text that Google typically shows in its news aggregator – stressing that the directive states that the exception should not be interpreted in a way that affects the effectiveness of related rights. So it seems that Google would have a big French fight to deliver if it tried to refuse payments for snippets.
But there is still everything to play in Australia. Therefore, downwards, Google is trying to confuse what are really two separate and distinct issues (payment for links versus payment for snippets) – in the hopes of reducing the financial impact compared to what is already integrated. in European legislation. (Although it has only been actively applied in France so far, which is ahead of other EU countries in transposing the directive into national law.)
In Australia, Google is also pushing for the Code to “refer to News Showcase” (i.e. the program it launched once the legal writing was on the wall about paid publishers) – making pressure to be the vehicle through which he can make “trade deals paying Australian newspaper publishers for value”.
Of course, a trade negotiation process is preferable (and familiar) to the tech giant rather than being bound by the Code’s “final offer arbitrage model” – which Google attacks as having ” biased criteria ”, and claims to subject it to“ financial problems and operational risk ”.
“If this is replaced by standard commercial arbitration based on comparable agreements, it would encourage good faith negotiations and ensure that we are held accountable through robust dispute resolution,” Silva also says.
A third provision that the tech giant really wants to remove from the current project requires it to notify publishers before changes to its algorithms, which could affect how their content is discovered.
“The algorithm’s notification provision could be adjusted to require only reasonable notice of significant and actionable changes to Google’s algorithm, to ensure that publishers are able to respond to changes that affect them, ”he suggests on this subject.
It is certainly interesting to examine how, in a few years, Google’s stance went from ‘we will never pay for information’ – before any relevant legislation – to the EU had adopted a directive which is now very actively enforced in France (with the help of competition law) and also with Australia which is moving towards the inking of a similar law.
It turns out the legislation can be a real change of mind for the tech giant.
Of course, the idea of making anyone pay to link to online content is obviously a terrible idea – and should be scrapped.
But if this part of the project is a bargaining tactic by Australian lawmakers to get Google to accept that it will have to pay publishers Something then he seems to be a winner.
And while Google’s threat to shut down its search engine may seem “total,” as Silva suggests, when you consider the number of alternative search engines out there, this is no longer the threat it once was. .
Especially since many alternative search engines are much less abusive towards the privacy of users.


text:
New store cranks up battle for customers
Reports by FRAZER PEARCE
THE battle for your dollar is about to be cranked up as IGA takes on the supermarket giants with its new, state-of-the-art store in North Rockhampton.
The large complex on Farm Street is opening on August 9 and yesterday co-owner Steve Duggan said they were well placed (in a major residential growth corridor) to grab a share of the Rockhampton and Capricorn Coast shopping market.
"We will be more than competitive,'' he said. "We are very excited with the growth potential of North Rockhampton and we are looking to be an integral part of that growth.''
He said his son, Nick Duggan, found the supermarket site two years ago and plans to open the largest IGA store in Queensland began then.
The supermarket will feature IGA's first venture into speciality poultry and health foods sections.

domain: news


text:
65 fleets pledge to become Go Ultra Low Companies
A total of 65 UK organisations have already been awarded ‘Go Ultra Low Company’ status just three months after the launch of the initiative, with Transport for London, University of Cambridge, Britvic and POD Point among those signing up to the new ‘green standard’ for business motoring.
The scheme has been endorsed by government and the automotive industry, and recognises organisations that are leading the electric motoring revolution by using electric vehicles (EVs), and pledging to buy even more.
Run by the Go Ultra Low campaign group, the scheme is open to public and private sector organisations that already use EVs, or offer them to employees as company cars, providing there’s a commitment for EVs to make up at least 5% of their vehicle fleet by 2020. This figure is in line with Government forecasts that EVs will represent 5% of total UK new car registrations by the end of the decade.
The first 65 Go Ultra Low Companies include a mix of public and private sector fleets, covering the length and breadth of the UK.
Transport Minister John Hayes said: “It is fantastic that so many companies are leading by example and adding electric vehicles to their fleets, and we want more to follow suit. These companies will benefit from the fuel and tax savings electric vehicles offer, as well as helping to protect the environment.
“The Government is determined to make zero-emission vehicles the best choice for everyone, which is why we have pledged £600 million to support uptake of greener vehicles and work towards making nearly every new car and van in the UK zero emission by 2050.”
Public sector members of the scheme include Transport for London (TfL), which has urged other London fleets to go green. In 2018 TfL will have 120 electric vehicles in its fleet, up from 16 today, which is well in excess of the target required to be a Go Ultra Low Company.
Lilli Matson, TfL’s head of strategy and outcome planning, said: “Our fleet of electric vehicles keeps the capital moving by helping to maintain the street network and keep buses on the roads. It is essential that whilst doing this we minimise the impact on the environment. The granting of Go Ultra Low Company status is a welcome recognition of our efforts to lead by example and address the challenge of cleaning up the Capital’s toxic air.
“I would urge as many of the city’s businesses and institutions as possible to aim for this standard. Increased uptake of environmentally-friendly transport creates a virtuous circle of economies of scale, cheaper vehicles and the creation of a mass market.” To apply for Go Ultra Low Company status, visit www.goultralow.com/fleet.


text:
The Premier of South Australia, Steven Marshall, was on hand earlier this week to officially break ground on the $200 million, 285-room Adelaide GPO Hotel, alongside developer Greaton’s Managing Director Nicho Teng.
Construction of the 16-level luxury hotel, which will be operated by Marriott International, has commenced and is expected to welcome its first guests in 2023.
The Adelaide GPO Hotel will become the first hotel operated in South Australia by the world’s largest hotel company, Marriott International.
The property will incorporate 285 large guest rooms, including a Presidential Suite, Club Lounge, signature restaurants and bars, swimming pool and fitness centre, plus function and conference rooms. Guests will enjoy the elegance of the historic GPO building and sweeping views across Adelaide city, Adelaide Hills and the metropolitan coastline.
Nicho Teng, Managing Director of Greaton, said the GPO Hotel is set to become Adelaide’s landmark hotel by seamlessly integrating the heritage of the city’s historic former General Post Office building with a contemporary tower.
He said: “The hotel will provide a new level of quality and comfort for future guests and the convenience of being right in the heart of the city.
“Our development of the GPO Hotel is a major vote of confidence in the South Australian tourism industry and will provide a significant boost to the State’s economy, employing more than 600 people during construction and creating a further 250 ongoing jobs when the hotel opens.
“I’d particularly like to thank the state government and all the stakeholders for their support over the past year as we tackled the challenges of the COVID-19 pandemic to keep the project moving ahead, which has allowed us to commence construction.”
Premier, Steven Marshall congratulated Greaton and Marriott International on the ground-breaking ceremony.
“This project is a real coup for our city,” Premier Marshall said.
“Not only will it create 850 local jobs over the life of the project, it will add another luxury hotel to the Adelaide CBD offerings – helping to attract more interstate tourists to our great city.”
Richard Crawford, Senior Development Director, Marriott International said the group is delighted to be partnering with longstanding partner Greaton to bring the first Marriott International hotel to South Australia.
Mr Crawford said: “Expanding Marriott International’s presence into Adelaide is a strategically important advancement for our company as we are very confident that South Australia will see strong future tourism growth.
“Hotels under Marriott International’s 30 global brands enjoy a loyal following around the world and our new foothold in Adelaide will attract new leisure and corporate visitors to the city from interstate and overseas.”
Construction of the GPO Hotel is expected to take around two years with the GPO Hotel to open and expected to welcome its first guests in 2023.
The $200 million GPO Hotel is one of three major projects in South Australia for Greaton including the $300 million West Franklin residential development and the planned $40 million resort at Wirra Wirra winery.
Other related articles:
AccomNews is not affiliated with any government agency, body or political party. We are an independently owned, family-operated magazine.


text:
The Dow Jones industrial average crept lower Wednesday as Europe edged closer to a recession that would hurt corporate profits in the U.S. The first earnings reports from American companies didn’t add much encouragement.
Germany reported that its economy, the largest in Europe, shrank slightly at the end of last year. And the European Union revised its figures for economic growth in the third quarter to 0.1 percent, its slowest pace in more than two years.
The European Commission also said Hungary has taken “no effective action” to contain its budget deficit. Stock markets in Germany and France fell slightly, and the euro dropped half a penny against the dollar, to $1.27.
The United States depends on Europe to buy about 20 percent of its exports, and concerns about Europe have led analysts to lower their profit estimates for U.S. companies.
Profits at S&P 500 companies are expected to rise 7.2 percent for the last three months of 2011, according to Standard & Poor’s Capital IQ. That’s much lower than the 17.6 percent growth reported in the third quarter.
Orange juice prices settled lower Wednesday. They hit their highest levels since 2007 on Tuesday when the U.S. government said that a potentially harmful fungicide had been found in Brazilian imports.
— The Associated Press


text:
Necessity as the mother of invention – or at the very least, the accelerator
When it comes to digital transformation in the time of COVID-19, retailers cannot afford to halt their presence or their growth. On the contrary, now is the time to double down, ensuring they’re equipped with robust and flexible solutions that can withstand the current circumstances – and whatever may lie ahead.
When the pandemic forced the closure of brick-and-mortar stores, it disrupted the way traditional retailers do business. Suddenly, they needed to work even harder to stave off competition (and now more than ever, that competition includes the ease of buying basically anything off Amazon).
COVID-19 and retail: much of what we’ve seen seems to be an acceleration of where we were already headed – customer experiences that are:
Growing consumer demands coupled with a shortened supply chain. To remain innovative and accessible across multiple touchpoints, they needed to create a seamless digital customer experience – and fast.


text:
It becomes the eighth Ring doorbell currently available to buy
Not known to make its fans suffer too long between releases, Ring has announced the arrival of a new smart video doorbell – the Ring Battery Video Doorbell Plus.
The latest model isn’t just here to make up the numbers, it seems, either. Despite becoming the eighth video doorbell offered to potential buyers, it does boast the highest-ever resolution we’ve seen in a Ring battery model.
In fact, the only doorbell in the family that can match up to that resolution is the wired Ring Video Doorbell Pro 2.
The 1:1 aspect ratio is also relatively unique, becoming the first Ring battery device to offer it, and ensures that you’re able to get a full head-to-toe view of anybody on your doorstep.
Naturally, the Battery Video Doorbell Plus also boasts a decent range of Ring’s features – ones like Advanced Motion Detection (which simply allows you to specify the areas the camera will actually look for motion), pre-set Quick Replies, Live View and Two-Way Talk.
In terms of battery life, Ring only mentions that the Battery Video Doorbell Plus is capable of tripling the original Ring Doorbell Battery’s lifespan – thanks to energy-saving features.
Really, though, this isn’t much of an estimate – even if these are often irrelevant anyway, given the variable nature of things like camera wake-ups and temperatures.
Perhaps more pertinent, then, is the fact Ring is putting these free features behind a Protect subscription over the coming weeks, which means anybody considering the Battery Video Doorbell Plus should also factor in a monthly cost if they’re looking to get the most out of their device.
Pre-orders begin in the US from today ahead of a release on 5 April, with the UK model launching on 13 April.


text:
- Peninsula group to open hotel in Yangon
- French firm to invest in Myanmar’s tourism industry
- Japanese business travellers flock to Myanmar
- Tourists to Inle region surge 50 percent
- Inle floating market nearly disappearing
- Mandalay to build 20 hotels providing over 1400 rooms
- More passports issued in this summer
- Myanmar starts online tour guide services
- Discovering traditional water festival in Myanmar
- Maungmagan beach packed with visitors
A trip to Yangon is not complete without a visit to the famous Shwedagon Pagoda. It is the most sacred pilgrimage in Myanmar. The pagoda is believed to more than 2,600 years old.
Last Updated on Tuesday, 19 February 2013 17:56
Police in Bagan are searching for thieves targeting female cyclists in the town of Nyaung U, a few kilometers from the country’s most popular tourist destination.
Last Updated on Monday, 18 February 2013 14:47
The Mahamuni Buddha statue in Mandalay receives an average of 200 foreign visitors per day, according to statistics from its board of trustee.
Last Updated on Saturday, 16 February 2013 00:06
Over 10,000 hotel rooms will be available at the Nay Pyi Taw Hotel Zone in 2014, according to a release from the Ministry of Hotels and Tourism.
Last Updated on Monday, 18 February 2013 00:02
Readers of a British travel magazine, Wanderlust, have chosen Myanmar as the top travel destination for the Wanderlust Travel Awards 2013.
Last Updated on Tuesday, 12 February 2013 20:14


text:
Nearly three quarters of financial advisers believe more product innovation is needed in decumulation, according to an exclusive survey by Bankhall with Money Marketing, but complexity continues to be a barrier to advice on hybrid products.
In the survey of 252 IFAs for Money Marketing, Bankhall asked advisers what the main barrier to recommending more hybrid products in decumulation is.
Thirty four per cent said that it was complexity, 20 per cent said there are better ways to meet the same client needs, 18 per cent cited a lack of products, and 13 per cent said there was a lack of client demand.
When asked if they expect more providers to launch hybrid products in the next 12 months, 47 per cent said yes, 39 per cent were unsure and 14 per cent said no.
She adds: “Advisers want a solution that enables them to service their clients year-in and year-out, without the worry of clients running out of funds.
“Part of that is around portfolio design and fund innovation, particularly in the wake of the decline of traditional with profits funds
“Yet, despite this, what we have seen in recent years is providers offering hybrid retirement products dropping out of the market, with one of the latest being Aegon in March.”


text:
Chances are you’ll be on vacation, but germs aren’t.
Hotel rooms should appear pristine on arrival — but dangerous bacteria proceed to lurk despite spotlessness, experts warn.
Martin Seeley of MattressNextDay.com revealed a few of the places bacteria and mud mites like to congregate.
“While this information could also be unsettling, it’s essential to pay attention to these potential hygiene issues in hotel rooms,” Seeley said in a report for The Sun.
“It doesn’t mean you need to stop staying in hotels altogether, but being informed and taking these precautions can enable you to sleep higher, especially should you’re vulnerable to allergies triggered by dust mites that may affect your sleep quality.”
It is advisable to sit down for this. Or not.
Seeley called hotel sofas and seats “germ motorways” and potential carriers of the bacteria Staphylococcus aureus, which might result in staph infection.
He said that sofas aren’t steadily deep cleaned subsequently bacteria accumulates there.
Reader’s Digest previously spoke with Harvard University public health specialist Nidhi Ghildayal, who really useful putting a clean towel on the sofa before sitting down. She also said sometimes the cleansing staff wipes stains as a substitute of removing them which is one other way they aren’t properly cleaned.
Recent studies have found that unwashed pillowcases have more bacteria than toilet seats.
Although hotel bedding is washed, the hotel comforters may only get a deep cleansing about once monthly, harboring tens of millions of dead skin cells, dried saliva and bodily fluids from previous guests.
The mattress expert suggests removing the hotel comforter and doing it gently in order to not kick up allergies within the room.
As for bedspreads — don’t even give it some thought, says one former hotel employee, Evangeline. Last 12 months, she confessed to followers on TikTok that they’re only washed “perhaps every year.”
Sleep tight — and don’t let the bed bugs bite.
Bed bugs hitch rides on travelers’ clothing to infest hotel rooms, and a cloth headboard is a great place for them to nest.
Hotel fabrics can be home to dust mites, thus triggering travelers’ allergies — the sneezing from which also sprays unwelcome germs.
Unfortunately, fabric headboards are also harder to wash than traditional headboards since they need steam cleansing, which doesn’t occur in between stays as a result of a lengthy dry time.
Carpets, rife with dust mites, are often vacuumed between guests — but that’s only half the issue. Particularly in warm, wet and humid environments, carpets are a breeding ground for fungal spores, which you may be tracking in your bare feet.
Philip Tierno, a microbiologist and clinical professor of microbiology and pathology at NYU School of Medicine, told The Post in 2018 that travelers should walk around their hotel rooms in slippers.
Hotel curtains don’t get deep cleaned steadily, allowing mites to build up between washes.
Cheryl Nelson, laundry connoisseur and founding father of lifestyle blog PrepareWithCher, once suggested people clean their curtains at home every three to 6 months, Apartment Therapy reported — and we are able to only hope hotel maids are doing as much.
Hotel shower heads may very well be home to the pathogen that causes Legionnaires disease — legionella — which is a kind of bacterial pneumonia.
While experts urged homeowners to vary their showerheads annually, hotels may not hold themselves to such a regular.
NYU’s Tierno said running hot water for a minute before having a shower could make a few of the bacteria drop out before you go under the shower head.
The bathtub may be a cesspool. “Take note there’s a [film] that forms over time in the bathtub and that holds organisms,” he added, suggesting guests do a fast wash and rinse of their tub with shampoo or shower gel before climbing in.
Along with potentially harmful microbes, mold lurks in moist bathrooms.
“For those who smell mildew, you’ve got mold exposure,” Dr. Clifford Bassett, medical director of Allergy & Asthma Care of Recent York, previously told The Post.
Revealing which items in guest rooms to avoid, Evangeline, the ex-hotel worker, told her followers on TikTok what even she wouldn’t touch, including the seemingly clean drinking glasses.
“I’d never use the glasses within the room — I’m not talking about styrofoam cups or the paper cups — I’m talking in regards to the glass glasses which can be sitting there so that you can use,” she said, insinuating they don’t get cleaned unless they give the impression of being used.
Those that determine to risk it and use the cups should wash them first, she suggested.
Evangeline also noted that hotel distant controls are seldom disinfected, if ever, and guests could be smart to pack sanitizing wipes of their luggage for just such an instance.
“Your cleansing and my cleansing are different cleansing, you’re feeling me?” she warned.


text:
Today it is clear that whoever dominates 5G will dominate the technology in the future and that they know very well in China, specifically in Huawei where they are betting heavily on this network for several years now.
Although the US has put Huawei on the ropes, which currently has less than two months left to return to the blacklist of companies that will not be able to acquire American technology, this does not mean that the Chinese giant is giving up and for that reason It has begun to invest huge amounts of money to improve its services and create new alternatives to stop relying on third parties.
Well, during an interview at Huawei headquarters, the CEO and founder of the company has confirmed that his firm is willing to license its 5G technology to US companies.
He has not given many details about what this license will bring but it is expected that patents, codes and chip designs will be found. What Rea Zhengfei has confirmed is that they are not worried about creating rivalry with this decision.
Recall that currently 5G technology already deployed in countries such as South Korea, United States, China, Spain, United Kingdom and other countries is still very limited to what we were promised and is precisely due to lack of infrastructure, so Huawei would already have also found a solution to the lack of its antennas, which were in manufacturing pause after the US ban.
The US veto caused 5G to be delayed in Europe, a continent that has respected the ban. This has strongly affected Huawei.
According to Zhengfei, his firm is now ready to manufacture 5G products without components of American origin, so there would be no problem to date to sell or license its technology to other countries.
The CEO mentions that by the end of 2020 they want to manufacture 1.5 million 5G base stations, although the goal will be somewhat complicated to meet as it was stated that since October they will start to do just over 5,000 stations a month.
What is clear is that Huawei has already found in the short term how to accommodate the US ban, it will be necessary to see if they can overcome this problem in case the veto remains.


text:
Duties on PLT Imports from Thailand, Taiwan, S. Korea Stay
The commission made affirmative determinations with respect to its antidumping duty investigations concerning imports of PLT tires from Korea, Taiwan and Thailand.
USW Files ITC Challenge in Chinese Truck Tires Case
The USW has filed a brief, asking the U.S. Court of International Trade to review a case of alleged Chinese tire dumping.
Correction Made to Indian OTR Duty Order to Exclude BKT
The International Trade Commission and Department of Commerce have issued a correction to its anti-dumping duty order on certain new pneumatic off-the-road tires from India to explain that Balkrishna Industries Limited (BKT) is partially excluded from the anti-dumping duty order, according to the Federal Register.
Cooper, ITG Voma Challenge Duties
Cooper Tire & Rubber Co. and tire importer ITG Voma Corp. are contesting the International Trade Commission’s anti-dumping and countervailing duties against Chinese-made passenger and light truck tires, according to Law360. The two companies filed with the U.S. Court of International Trade contesting various aspects of the final determination. Initial summons filed by Cooper and
ITC Establishes Deadline for Preliminary Ruling in USW Case
Following the petition filed by The United Steelworkers (USW) union, the International Trade Commission (ITC) will issue a preliminary ruling to determine whether antidumping and countervailing duties are justified against passenger and light truck tires imported from China. The ITC is required to issue its ruling by July 18. On June 3, The USW union


text:
The global coronavirus outbreak continues as UK cases rise to 273, Tesco rations essential items and Italy places 16 million people under quarantine.
Those who live in Central and Northern provinces like Lombardy, Milan and Venice will need special permission to travel.
With 5,883 cases, the highest number in all of Europe, the Prime Minister of Italy has also announced that all schools, gyms, clubs, museums and other public venues with close.
Italy has seen an unfortunate number of fatalities from the virus too with 230 people dying from the COVID-19 Coronavirus.
The extreme measures are expected to last until the 3rd of April.
The Prime Minister said, “We want to guarantee the health of our citizens. We understand that these measures will impose sacrifices, sometimes small and sometimes very big.”
“There will be no movement in or out of these areas, or within them, unless for proven work-related reasons, emergencies or health reasons. We are facing an emergency, a national emergency. We have to limit the spread of the virus and prevent our hospitals from being overwhelmed.”
Here in the UK, people are worried about the possible pandemic and are stockpiling items from supermarkets across the UK.
Images are flooding social media of empty shelves across the UK and the prices of items like hand sanitizers are being hiked up on online retailers like Amazon.
Tesco, the UK’s biggest supermarket, have started rationing essential items as a result.
Those looking to buy hand sanitiser, hand soap, anti-bacterial wipes, dry pasta, long-life milk and some canned goods will be subject to per person restrictions.
Waitrose and Boots have also imposed similar caps on products to ensure availability for everybody.
Coronavirus has also led the annual SXSW festival in Texas to be cancelled.
For up to date advice on Coronavirus, head to the NHS website.


text:
Raising Cane’s is expanding to a new location across from Millennium Park, located at 2 Michigan Ave.
This will be the third Chicago location for the Dallas-based Chicken chain restaurant, following Wrigleyville and Rogers Park. The new 4,000-square-foot Raising Cane’s is expected to open towards the end of the year, possibly early 2023, according to Crain’s Chicago Business. This new location, the 21st in Chicagoland, will replace Panera Bread, which shut down during the pandemic. This comes as part of the company’s plan to quickly become the most prominent chicken eatery.
The exact number of new locations coming to the area is unknown, but co-CEO AJ Kumaran wants his company to be on “every corner of Main and Main, so we are easily accessible to our customers.” Although the chain plans to add locations throughout the city, the new site is interesting. Less than two blocks away are Chick-fil-A and Jolibee, which both serve fried chicken. The new Raising Cane’s will potentially cause a “fried chicken war” within the community, but Kumaran is not worried about the competition.
“We do one thing only, and we do it better than anybody else,” Kumaran tells Crain’s Chicago Business. “Nobody can even come remotely close to the way we deliver on craveable chicken finger meals. Chicago is one of those gateways to the world, so lots of international tourists. It’ll be a beautiful location that I think is going to do really well.”


text:
Two new electric car surveys came out last week. One by Climate Nexus claims 44% of people who plan to buy a new car in the next 5 years expect that car to be electric. Another survey conducted by AAA says only 16% of Americans expect their next car to be electric. Clearly, both polls can’t be correct, can they? Let’s take a look behind the numbers to see what we can learn.
The Climate Nexus poll was conducted in cooperation with climate groups at climate programs at Yale and George Mason universities. Here’s the core question of that survey when it comes to this article:
The first thing sharp-eyed readers will notice is there is considerable variation in the answers people gave depending on their political orientation. Republicans are more likely to get their information from Faux News or Rush Limbaugh, news sources that rely heavily on input from think tanks controlled by Koch Industries and the fossil fuel industry. Those groups are heavily invested in dismantling electric car incentives and deceivingly painting electric cars as bad for the economy.
In a separate poll from Morning Consult, the majority of respondents — 62% — said the supposedly higher cost of electric cars and concerns about being able to charge them when needed would make them unlikely to buy an electric vehicle.
On its website, AAA says, “When asked if most vehicles will be electric by 2029, only 4 in 10 said yes. Yet, a separate study AAA conducted earlier this year found that more than half of Americans believe that in this same time frame most cars will have the ability to drive themselves — a reality that is much less likely to happen. AAA believes that similar to other emerging technologies, a lack of knowledge and experience may be contributing to the slow adoption of electric vehicles despite Americans’ desire to go green.”
“Today, more than 200,000 electric cars can be found on roads across the country as almost every manufacturer sells them,” says Greg Brannon, AAA’s director of Automotive Engineering and Industry Relations. “But, like other new vehicle technologies, Americans don’t have the full story and that could be causing the gap between interest and action.”
“AAA believes that the industry should provide as much information as possible about the benefits as well as the limitations of electric vehicles since this will be an important step toward increasing consumer awareness and ultimately adoption. This is the reason that AAA continues to invest in testing and research of EV technologies,” Brannon adds.
So there we have it, folks. On the one hand, there are blaring headlines about how almost half of people expect to buy an electric car in the next 5 years. On the other are reports that many people are still confused about electric cars and worried they will be left stranded somewhere on the road to East Overshoe without an EV charger in sight.
AAA’s Greg Bannon sums it up best. Educating consumers is the key. Sadly, that is something the major car companies have failed miserably at doing. If you were GM or Ford and wanted to sell electric cars, wouldn’t you put them out front at dealerships and provide test drives for people? Wouldn’t you have trained sales staff on hand to answer questions? Wouldn’t you bring those cars to malls and public areas so people could see them and learn more about them? Wouldn’t you be cooperating with local utility companies to expand the number of EV chargers in your area?
I am nobody from nowhere but I know if you want to sell your products you have to actively market them. There are executives being paid enormous salaries at these companies who are doing a piss poor job of it.
So, here’s my offer to Mary Barra and Jim Hackett. Hire me to run your EV marketing team and I will double your EV sales in 12 months. And I will do it for half what you are paying those other stiffs hiding out in your C suites. Call me. I’m available 24 hours a day. (PS: I will be sure to let CleanTechnica readers know if Mary or Jim calls.)
The good news is that even at the low end, 16% of people expect to buy an electric car in the near future. If so, that would go a long way toward moving the EV revolution forward.
Editor’s note: I’d bet money many people answering both surveys were equating electric cars with conventional hybrids.
Have a tip for CleanTechnica? Want to advertise? Want to suggest a guest for our CleanTech Talk podcast? Contact us here.
CleanTechnica Holiday Wish Book
Our Latest EVObsession Video
CleanTechnica uses affiliate links. See our policy here.


text:
Local marketing has moved beyond a sole focus on new customer acquisition to also focus on customer loyalty and engagement. Using credit card registration and point-of-sale integration techniques, leaders in the space have found new ways to engage with millions of local customers and merchants.On the final day at BIA/Kelsey‘s Leading in Local: Interactive Local Media conference, a panel of industry leaders were brought together to discuss how transaction marketing is changing the way SMBs relate to their customer base.
One major trend that was discussed heavily was point-of-sales systems. Bringing all of the “big data” that SMBs acquire and making that information manageable and useful is where the future of transaction marketing is headed. Victor Ho, CEO of FiveStars, recognized the opportunity for POS systems in the SMB market and jumped on the opportunity. “All systems are integrated on a point-of-sale. When we looked at the market we decided there was an opportunity here. We then created a platform that worked through any POS.”
FiveStars‘ quick jump into the market proved to be the right move. The company now has just under 3 million memberships.
Panelists also discussed the development of the transaction marketing space. According to Jason Dailey, Senior Director at Microsoft Bing, “mobile devices and electronic wallets are going to be one of the next biggest things.” Looking at the broader perspective, Eckart Walther, CEO of CardSpring predicts that we will be seeing “more and more online companies capture online data.The levels of interest in transaction marketing are going up exponentially.”
With all of the new interests and innovation in the transaction marketing area, Albert S. Bitton, Founder and President of Local Commerce Association of Canada warns against SMBs becoming overwhelmed with all of the different products the industry now has to offer them. “The expectation of the industry is way too high. They have a lot they need to deal with and there are too many applications that small businesses will want to manage but they can’t. This is why I am excited about companies like Groupon and FiveStars because everything is integrated”.


text:
For 30 years, KK’s passion for high quality, continuous innovation and drive to determine future trends has been at the heart of our business. We have a growing team of highly skilled development chefs that excel at what they do, providing our customers with innovation and inspiration on a daily basis.
We have won two awards this week that have highlighted our drive for innovation and we are very happy that our NPD team has been recognised for its achievements! Firstly, KK Fine Foods was presented with the 2017 Innovation Award at the annual Pizza Hut supplier conference!
In addition to this, the PETA (People for the Ethical Treatment of Animals) Vegan Food Awards 2017 recognised both JDW & Loungers for their fantastic Vegan options. As the number of British vegans has increased by 360 per cent in the last 10 years, the market for meals, snacks, and beverages free of meat, eggs, and dairy products is stronger than ever – and PETA is recognising some of the most exciting new plant-based offerings with its fifth annual Vegan Food Awards.
KK has worked closely with JDW to create their latest vegan friendly dish ‘Teriyaki Noodles’ which won ‘Best Vegan Noodles’! PETA praised the meal which comprises non-egg noodles and fresh vegetables in a teriyaki sauce with ginger, garlic, soy sauce and a hint of chilli. We’ve ensured the meal is below 500 calories and less than five per cent fat so it’s perfect for those wanting a healthy meal too!
Its Director of Vegan Corporate Projects, Dawn Carr, said: “PETA’s 5th annual Vegan Food Awards honour some of this year’s most progressive new vegan options, including Wetherspoon’s fresh and flavourful Teriyaki Noodles. Wherever you live or travel in the UK, you’re never far from a delicious hot vegan meal, thanks to Wetherspoon’s vegan options.”
Wetherspoon’s food development manager, Oliver Addis, said: “ We are delighted with the award. We are keen to offer our customers as wide a range of meals as possible and this includes a selection of vegan meals.”
Loungers also won ‘Best Vegan Menu’, which includes our tasty Sweet Potato Falafel Burger!


text:
Networking giant Cisco Systems is using clickstream analysis software from Informatica Corp. to get a better understanding of what interests customers who browse its Web site.
Cisco has licensed Informatica's eSite analytic application, a part of Informatica's eCRM software, which helps companies track customers' Web surfing and online purchasing behavior. Informatica's data analysis software also allows companies to integrate customer information across multiple channels to get a unified view of a customer. For instance, Cisco would be able to determine whether a customer researched pricing information for a product online, and then purchased the product in a retail store.
The latest version of eSite, which was introduced Tuesday, can provide the geographic location of a Web-site visitor. "A company can pinpoint geographically where a visitor lives, which will help the company to perform targeted marketing," says Marv Mouchawar, senior VP and general manager of Informatica's application business unit.
Schiff says that even though online privacy is a growing concern, tracking is necessary for companies trying to learn what their customers' priorities are when they go to their sites. "Man does not shop by Web browser alone," Schiff said. "Companies need to analyze what the customer is doing in all channels and tie it together to get the total view."


text:
Friday, July 17, 2015
New Liquidmetal Android Smartphone May Or May Not Be A Terminator
Venturebeat was told by Turing CEO S.Y.L. Chao that his company is the first company able to manufacture Liquidmorphium components, measuring more than 10 millimeters. The new liquid metal smartphone is finally beating Apple's iPhones tiny SIM card tray, that is the largest liquid metal smartphone part.
The lucky company to finally release the first "Liquidmorphium" phone in the world is Turing Robotics Industries. Since the handset's housing is far stronger than steel, aluminum AND titanium, you won't have to worry about the phone bending, even in the slightest. The front of the new smartphone has an appealing chrome look, but the back isn't as fortunate in the design. Also, the Turing Phone is coated inside and out with a nanoparticle treatment, to make it waterproof. Not even getting water INSIDE the phone and covering all the circuits will phase it.
The smartphone will include a 5.5-inch full HD display, 3GB of RAM, a fingerprint scanner, a 2.5GHz quad-core processor, a 3,000 mAh battery, 64/128GB of storage, a 13-megapixel dual flash camera and Android 5.1. The Turing Phone will be available in the U.S. and China, for preorder on July 31st, starting at $740.
Content originally published here


text:
Earlier this week, the White House announced that the Biden administration plans to nominate Jonathan Kanter as head of the Justice Department’s antitrust division. The latest announcement is another step taken in line with the US preparing for a broad crackdown on large technology companies.
Kanter has “been a leading advocate and expert in the effort to promote strong and meaningful antitrust enforcement and competition policy,” the White House said in a statement. The 47-year old lawyer has represented companies that have pushed antitrust enforcers to sue Alphabet Inc.’s Google. Kanter has been labeled as Google’s long-time foe, who left one of the country’s biggest law firms last year to start his own firm.
The nomination awaits Senate approval. If approved, Kanter will oversee a monopoly lawsuit filed in October 2020 against Google, and an investigation of Apple Inc. over its App Store practices.
Experts believe that Kanter is the favoured candidate for a faction of lawmakers, as both Democrats and Republicans have been targeting the dominance of these platforms. The US economy is plagued by monopolistic powers across industries, which has put pressure on the Justice Department and the Federal Trade Commission (FTC) to police mergers and anticompetitive conduct more aggressively.
President Biden recently nominated Lina Khan, another critic of big tech platforms, to lead the FTC. The FTC is investigating Amazon’s planned purchase of Metro-Goldwyn-Mayer Studios Inc. (MGM).
Biden Cracks Down With New Executive Order
Earlier this month, President Joe Biden made headlines with the signing of a new executive order that aimed at cracking down on big tech firms and promoting competition. The American government published a fact sheet of the latest executive order that included 72 actions and recommendations involving ten agencies.
The government has suggested that the collection of large amounts of personal information by big tech has led to a wide range of unfair practices. Biden is hoping to cut down anti-competitive practices by corporate majors, who have been buying up potential competitors and competing unfairly with small businesses.
During the signing event on July 9, Biden said, “Capitalism without competition isn’t capitalism. It’s exploitation.” The executive order also hopes to improve competition across sectors like travel, agriculture and pharmaceuticals. A large portion of the executive order will focus on the tech sector, as it targets some of the business practices of the large platforms.
Some major recommendations of the order included:
– Greater scrutiny of mergers in the tech sector.
– New rules to be set out by the Federal Trade Commission (FTC) on data collection.
– Barring unfair methods of competition on internet marketplaces.
The executive order “is not just about monopolies,” the White House’s chief economic advisor, Brian Deese, told CNBC, “but it’s about consolidation more generally and the lack of competition when you have a limited set of market players.”
The buyout of smaller companies has been an ongoing trend among big techs like Facebook and Google. The order alleges that such actions offer limited options of products to consumers and the prices they pay, and in terms of finding better jobs as well. The future of upcoming mergers remains unknown. Amazon’s recently proposed acquisition of MGM, and Discovery’s collaboration with WarnerMedia is already under increased scrutiny.
However, critics are sceptical about the impact of these new orders, since the existing laws, statutes and guidelines have remained unchanged over decades. The government cannot have a strong case unless the laws are updated. They need to move beyond guidelines and focus on legislation so that it cannot be reversed easily by the next administration.
Larry Downes, senior industry and innovation fellow at Georgetown University said, “The FTC and the Antitrust Division must follow existing law regardless of aspirational executive orders, introduced legislation that hasn’t been passed, or general anxiety. If they don’t, they will lose in court, as the Trump administration learned all too well in its merger cases.”
He was referring to the Department of Justice’s challenge to AT&T’s merger with Time Warner during the Trump administration, which led to a rare antitrust trial in which the government’s case was soundly rejected.
In order to avoid this scenario, lawmakers on Capitol Hill are taking steps to revise existing laws and give enforcers more authority to take on America’s biggest tech companies. In June, the House Judiciary Committee advanced five bills aimed at placing significant new constraints on how tech platforms operate. The bills were drafted after a 16-month investigation into the powers of Amazon, Apple, Google and Facebook.
Opposition And Impact On The World
The new Executive Order has received bipartisan support, particularly from consumers and small business owners. The call for restrictions on “self preferencing”, where companies like Amazon can create their own similar products to compete with small rivals who need the Amazon platforms to sell their goods, has largely been praised.
However, the US Chamber of Commerce, in a statement following the order by President Biden said that it will “vigorously oppose calls for government-set prices, onerous and legally questionable rule-makings, efforts to treat innovative industries as public utilities, and the politicisation of antitrust enforcement.” The move, as the body stated, “smacks of a ‘government knows best’ approach to managing the economy.”
The US National Association of Manufacturers have alleged that the order is “undermining free markets”, before adding that such a move is essentially a “threat to undo our progress.”
Amazon and Facebook have recently filed petitions for recusal against Lina Khan. Both companies have sought to have her removed from antitrust cases involving their businesses based on past statements she’s made. The companies claim those statements show she’s already made up her mind on their liability. Khan and the FTC have not yet responded to the petitions.
European regulators have already been leaders in terms of cutting down on the monopolistic power of big tech. In India, Facebook lost the right to offer its free mobile internet service after the Telecom Regulatory Authority of India ruled in favour of net neutrality. Amazon, too, faces investigation from the Competition Commission of India.
China’s recent crackdown on its own tech giants like DiDi has sparked a debate about the thin line between antitrust and anti tech laws being introduced by many countries. The increased pressure by the US government may set a precedent in time. As of now, it is too early to call whether other major markets would adopt a similar framework, at any point.


text:
Zynga Inc. is expected to begin a road show on Monday, December 5, in support of its initial public offering with hopes of enticing investors eyeing internet companies.
According to Reuters, the social gaming company responsible for the “FarmVille” craze is the most recent in a list of tech companies looking to get their feet wet in public markets, including Groupon Inc. and Angie’s List. One source claims the IPO could be the largest internet debut ahead of Facebook’s.
The roadshow will see CEO Mark Pincus give presentations to investors, while COO John Schappert and CFO David Wehner are also expected to make appearances.
Zynga filed for an IPO of up to $1 billion on July 1, and is regarded as one of the most highly anticipated IPOs in the technology sector due to its viral computer games, including Farmville and CityVille. Sterne Agee analyst Arvind Bhatia told Reuters attention will lie mostly on the company’s estimated $14 billion valuation.
While some claims of poor relations between the company and its employers have surfaced as the company edges closer to going public, Lazard Capital Markets analyst Atul Bagga says the discrepancies are not likely to affect the company’s IPO, according to The Washington Post.


text:
Specialized, technological homes gain popularity
Posted on Thursday, October 3, 2013 at 11:15:32 AM
As the housing market improves, remodeling trends shift. Now, more homeowners are focusing on specialized rooms integrating more technology into their design.
Home improvement financing is a great way for many property owners to make renovations and changes to their houses. For people looking to take advantage of current consumer desires, following the biggest trends in 2013 might be a solid method to boost home equity.
Residential architects are reporting a growing interest in customized, specific rooms and technology, according to the American Institute of Architects. Homeowners are requesting outdoor living spaces, mud rooms and even safe rooms.
During the housing downturn, consumers focused on affordability and functionality, the news source noted. As the economy picks up momentum, extra funds and more secure finances mean people are looking into expansion. That includes specialized rooms, and technologically-savvy home features.
However, one trend that hasn't changed is emphasis on energy efficiency. Many upgrades have been made with this in mind, and cost-effective renovations are still desirable.
Owners with home improvement financing may want to focus on technological integration into their properties, according to HGTV Remodels. This means that a house's components - like lighting, heating and security - can be accessed with one single device. This technology makes life easier, and may also be more attractive when trying to sell a home.


text:
national bank of abu dhabi announces luup m-payments roll out plan
NBAD to become the global pioneer in modern m-payments; roll out to begin immediately to NBAD online banking services customers
National Bank of Abu Dhabi (NBAD), announced the roll out plan for its recently announced partnership with LUUP, the leading mobile payment (m-payment) service provider in Europe and the Middle East, to enable secure money transfers and payments to registered users across the world. The plan, which was announced today at a press conference at NBAD headquarters in Abu Dhabi, will be rolled out in phases over a six month period.
In its final phase, LUUP’s m-payment technology will allow registered users in the UAE to use their mobile phones to make secure payments and money transfers to any bank, merchant, government service (such as utility bill payments) or person-to-person (P2P) across the world. LUUP users would also be able to download mobile content and other new age services within seconds and at a fraction of the cost.
“I am very happy to be here today to commemorate this occasion that brings together two leading business organizations for Norway and the United Arab Emirates,” said H.E. Anne Rikter-Svendsen, Ambassador of Norway. “As one of the most important markets in the region for Norwegian companies, our cooperation with the UAE’s government and private sector will continue and be strengthened with this successful endeavor.”
In 2006, trade between the UAE and Norway amounted to 1,149 billion Norwegian Kroner or AED725.091 million, making the UAE one of the most important markets for Norwegian companies in the whole Asia/Africa region. Today, more than 50 Norwegian companies, within a wide range of business areas, are established here.
“Our partnership with MVS and LUUP, which was announced earlier this year, has come to fruition. Over the past months, both parties have invested a lot of time and effort to make sure that this roll out of service happens smoothly”. “The fact that NBAD is the first bank in to roll out LUUP’s mobile payments technology illustrates our progressive mentality in adopting global technologies and services to better serve our customers”.
“NBAD is a pioneer is the m-payments space because the bank’s senior management realized early on that today’s payments system lags behind the technology that currently exists. The world is in a state of rapid change and the payments mechanisms need to keep pace” . “In a modern age where being mobile is becoming a necessity rather than a lifestyle, being able to pay your bills, transfer money to your family or top up your mobile credits from anywhere in the world and at any time is now a necessity”.
As communication technologies converge to multi-use hand held devices, utilizing GSM networks is becoming increasing appealing to service providers. This is especially true in the Middle East region where mobile phone penetration rates outstrip Internet penetration rates by far. In the UAE, for example, mobile penetration has exceeded 100 percent. LUUP’s m-payment technology therefore provides a platform that is accessible to a huge segment of society.
“We are constantly on the lookout for services that benefit our customers. We identified a very intriguing opportunity with LUUP early on and believe that the payment system for the modern world is now here,” said Saeed Al-Shamsi, Deputy Head of NBAD’s Retail Banking Group (RBG). Al Shamsi confirmed that “Training programs for front line and customer services staff has been ongoing to make sure that customers receive the required education and assurance to take advantage of this innovative new service.”
LUUP is a privately owned company with operations in Norway, Germany, Poland and the UK that provides an open technology platform for mobile phone-based e-payment transactions.
“This agreement marks the first launch of the LUUP payment system outside of Europe, where it is one of the first e-money services licensed by the European Commission. With a secure technology backbone which is in compliance with the European Commission’s money laundering regulations and suspicious activity reporting requirements,” said Morten Hofstad, MVS CEO. “LUUP users need only send a text message, and within a matter of seconds, rather than days, a secure transaction is completed in any currency and at a fraction of the cost of traditional fund transfers.”
The mobile payment technology branded LUUP was launched in the European market in 2002 by the EU regulated corporation Contopronto AS. Contopronto received one of the first pan-European E-money licenses to be issued under the European Union E-money Directive, making it fully compliant with money laundering regulations and suspicious activity reporting requirements. The LUUP payment service is currently being utilized by a rapidly increasing number of mobile device users in the United Kingdom, Poland, Norway and Germany. The LUUP technology is developed and maintained by Contosoft SA.
© 2000 - 2022 Al Bawaba (www.albawaba.com)


text:
Diesel Giving Away Milan Fashion Show Tickets in Latest NFT Drop – Sourcing Journal
Last season, Diesel captivated attendees of Milan Fashion Week with 200,000 Diesel x Durex co-branded condoms decorating the runway. This fall, the Italian label has a new tactic to drum up attention.
Diesel has partnered with Web3 music and culture platform, Public Pressure, on Metamorph, which distorts the lines between the digital and physical world to create a “phygital” experience.
“Diesel aims to be at the forefront of the intersection between fashion and technology,” Stefano Rosso, CEO of BVX and board member of Diesel’s parent company, the OTB Group, said. “Our partnership with Public Pressure allows us to continue to push the boundaries of the ways the fashion brands interact with their communities.”
Metamorph encompasses a limited edition run of 300 digital collectibles (NFTs) minted on the Polkadot and Ethereum scaling network Polygon, two popular blockchain technology ecosystems. For $60 apiece, the collectibles are now available for purchase via Public Pressure’s marketplace.
The NFT grants access to Diesel’s runway show in Milan on Sept. 20. It also includes access to the whitelist for one of 300 limited edition Metamorph watches designed by Diesel’s creative director Glenn Martens. NFT owners can access an exclusive soundtrack from music composer and Diesel fashion show sound designer Senjan Jansen, as well as URL music events organized by Public Pressure and “House of Diesel” community privileges.
“This is our third ‘discovery drop’ with Diesel; the first two sold out in less than a day,” said Giulia Maresca, CEO and founder of Public Pressure. “Both generated revenues that artists would have needed over 11 million streams to match. We co-created Metamoprh, with Diesel, bringing together exclusive utilities that meet at the intersection of music, fashion and technology.”
“We’re thrilled to see forward-thinking brands working with Web3 innovators like Public Pressure, expanding the utility of collectibles to provide even more value and rich experiences for their communities,” Peter Ruchatz, CMO of Parity Technologies, a contributor to Polkadot, said. “Metamorph is an exciting and welcome addition to the community of projects on Polkadot, providing new revenue models for artists and further cultivating brand excitement and loyalty.”
Diesel first entered the Web3 world last May with the launch of NFT platform D:VERSE, a collection of NFT versions of runway outfits, launching with pieces from the brand’s Fall/Winter 2022 runway show. It also launched an NFT collection in partnership with streetwear brand and blockchain startup Hape in December.
“Innovation isn’t just about creating something new; it’s about setting benchmarks that others aspire to reach,” said Philipp Weiling, director of business development EMEA at Polygon Labs. “The Metamorph experience does just that for Web3, by merging the physical and digital worlds. Our mix at Polygon Labs, of blockchain and creativity, is supporting these creative shifts.”
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.


text:
The Swiss giant behind Cartier watches and Montblanc pens is the latest luxury group to reveal a sales growth slowdown as demand in China wanes.
Richemont, which also owns jeweller Van Cleef & Arpels and fashion labels such as Chloé, revealed the slowest start to its year since 2009.
Sales rose just 1% in the five months to the end of August, missing analysts’ expectations, with organic growth up 4% before taking into account exchange rates.
Its watches division was hit by the crackdown on gift giving in China and political instability in Hong Kong, and an apparent slowdown in tourist spending may have also hurt the group.
Richemont’s sales in Asia-Pacific were flat and its strongest market was the Americas where sales rose by 12%.
Meanwhile, the latest statistics from tax refund specialist Global Blue found tourist spend in Europe — including London — was down 2.5% year on year for July and August.
Experts have blamed the slowdown on unrest in Russia and Ukraine and strong sterling.
Laura Levy, a luxury analyst at Barclays, said Russian tourism spending in Europe was in double-digit decline, down 13.4% in August.Reuse content


text:
Petrol prices are expected to rise by 4 pence a litre in the next few days as retailers pass on increased wholesale costs to motorists, the Telegraph reports.
The rise has been forecast by the Petrol Retailers Association (PRA), who said wholesale prices had risen by five pence a litre since Christmas. Brian Madderson, chairman of the PRA, said:
"Independent retailers have been soaking up this increase at the expense of already tight margins because they know how hard the motorist is squeezed. But the floodgates will have to open soon."
The AA, which has forecast a smaller rise of 2.5 pence a litre, accused the industry of failing to pass on recent falls in wholesale prices to motorists as quickly as increases. Edmund King, president of the AA, said:
"Wholesale petrol prices turned upward in the first week of January, average pump prices six days later. If falls in wholesale were reflected as quickly, no one would mind, but they’re not."
More top news
Actor Gorden Kaye, best known for his role in the long-running sitcom 'Allo 'Allo!, has died aged 75.
The head of GCHQ has announced he is to step down as head of the intelligence agency for personal reasons.
A woman who plotted to let a paedophile rape her seven-year-old daughter has been jailed for nine years.


text:
According to Krugman, and everyone else it seems, it was deregulation and those darned Republicans that caused the crisis:
Like so many other economists and pundits, Krugman sees the effect and interprets it as the cause. He writes,Translation: the financial services industry is the cause of wage stagnation elsewhere, as Wall Street has "diverted" wealth that would have gone to other workers. How did "they" manage to pull off such a scheme?
The financial services industry has claimed an ever-growing share of the nation's income over the past generation, making the people who run the industry incredibly rich. Yet, at this point, it looks as if much of the industry has been destroying value, not creating it. And it's not just a matter of money: the vast riches achieved by those who managed other people's money have had a corrupting effect on our society as a whole.
Let's start with those paychecks. Last year, the average salary of employees in "securities, commodity contracts, and investments" was more than four times the average salary in the rest of the economy. Earning a million dollars was nothing special, and even incomes of $20 million or more were fairly common. The incomes of the richest Americans have exploded over the past generation, even as wages of ordinary workers have stagnated; high pay on Wall Street was a major cause of that divergence.
But that was not enough for these greedy free-marketeers. They then promoted free trade and outsourcing, which meant that hard-working Americans were thrown out of work in manufacturing industries and forced either to go on welfare or work at — horrors! — Wal-Mart, which then further abused them by holding down their pay and denying them medical insurance. The destruction of the American economy being complete, these capitalist despoilers then managed to divert all of the new wealth to themselves and their Wall Street friends, a scheme that worked, but only for a little while until it, too, collapsed under its own weight, leaving wreckage behind. Krugman writes,(I love the stab at too few bright minds devoted to science and public service. Even with massive government subsidy? How could that possibly be the case? Trust me, it isn't. There are far, far, far and away too many folks, brilliant and not-so-brilliant, devoted to these pursuits.) Then...Meanwhile, how much has our nation's future been damaged by the magnetic pull of quick personal wealth, which for years has drawn many of our best and brightest young people into investment banking, at the expense of science, public service and just about everything else?
Now, Krugman never explains just how free markets lead to the kind of speculation we saw on Wall Street; we are supposed to accept his explanation on faith (Krugman's version of "faith-based political economy").Then he runs off on what I thought was a tangent on regulation and outsourcing. I almost didn't follow him. "What the heck is this doing on Mises.org?" I thought. "He's supposed to be talking about the monetary expansion which was used to fund the bubble." Thankfully, I read on anyway. He makes the case that America has effectively made it unprofitable to produce goods here through over-regulation. This puts us at a severe competitive disadvantage.
Start multiplying this regulatory nightmare across an economy and one starts to understand how government manages to force costs without appreciable economic benefits (except to the politically connected firms that produce the goods required by regulators). Over time, this means that an economy produces fewer and fewer goods that people want.This creates an ever increasing incentive for monetary expansion:
Such a regulatory and legal regime also reduces opportunities for investment, which means even more economic stagnation. To offset stagnation, the Federal Reserve has attempted to pump new money to "stimulate" the economy. In the 1990s, new money went into the short-lived "high-tech" boom in which the computer-savvy kids of Seattle were made temporary millionaires. In this decade, it went to the infamous "housing boom."Which Austrians know has predictable economic consequences:
Thus, the only game in town in which the government could give an illusion of prosperity was through aggressive action by the Fed to pump up bank reserves, stimulate lending, and then watch Americans send dollars overseas for consumption goods (as Peter Schiff is fond of saying). In other words, as long as people overseas would accept American IOUs, they would send their goods to this country, but the dollar's recent slide tells us that Uncle Seller is running out of suckers.Which, in turn, leads to the the overt consequences, finally visible to the mainstream economic commentariat, which are only now raising hackles but have been in the process of sending the world into financial tailspin for some time:
He also makes what I consider a pretty astute observation to support this hypothesis, especially about the business strategies of companies like GM and GE:
It should not be surprising that when the Fed engineered these financial bubbles, those on the front lines in financial services would be the main beneficiaries. However, here again, Krugman misses the boat on causality. His statement that high salaries and bonuses to financial executives caused pay "inequality" in the economy is a non sequitur. The high pay and bonuses was the result of government monetary policies, which funneled new money directly to Wall Street and the banks.
Wall Street executives did not suddenly decide to enrich themselves and then change the direction of investing in order to do so. Instead, they were able to direct large sums of money for their own compensation precisely because the government was channeling gargantuan amounts of new cash into their firms. For that matter, much of the money was channeled into the purchase of now-worthless "mortgage securities," which were created by the quasi-government entities of Fannie Mae and Freddie Mac.
By far the best sentence in the entire piece is the following:
Given the fact that government piles on the business costs and destroys economic opportunity, perhaps we should not be surprised that the one profitable area was financial services. General Motors might not have sold enough vehicles to turn a profit, but its financing division made money. The same goes for General Electric and other companies that have turned profits from credit cards. For the time being, people could make money in the money markets, but as the US dollar now plunges in value, even those last profitable ventures have dried up.
As government has destroyed one business opportunity after another, perhaps we should not be surprised that investment money has left domestic production and was diverted to financial markets. Investors want a return, and government agents and the political classes seem determined to destroy free markets — and the opportunities they present for economic growth.
If ever a financial crisis had "Made in Washington" stamped on it, this was it.That one says it all. I've sliced and diced this one up to its detriment. It is better in full. I would encourage anybody interested in the present fiasco to read it. I would have liked to see it a bit more direct and concise; a newbie might get a bit lost in the twists and turns. But it is a wonderful piece and a very good rebuttal of the arguments currently circulating in the mainstream press.


text:
Why’d Nokia give away Ovi Maps for free to other OS users? Unless they’re… planning an Android phone themselves? We’ve already heard whispers they’re to release just one Maemo device this year – and they can’t possibly survive on Symbian for alone.
Greig Williams, who is Nokia’s general manager for the Alps and South East Europe, told the Austrian newspaper Die Presse that porting Ovi Maps to Android and Windows Mobile “will be the next step”.
It’d be crazy of them to release their free turn-by-turn navigation service on other operating systems, unless it was all some grand scheme to woo consumers back to Nokia, so I’m reading into Williams’s comments that Nokia’s working on devices running Android and Windows Mobile. There. I said it. Perhaps it’s not the end of Nokia after all. [Die Presse via Electricpig]
UPDATE: Our early morning hysteria has just been crushed. CRUSHED. Nokia told Engadget that Williams was misquoted by Die Presse and they’re in the process of taking the quote down. Way to ruin the fun, Nokia.


text:
Sri Lankan developer community thriving, next phase IoT, says Dialog Axiata
ECONOMYNEXT – Sri Lanka’s Dialog Axiata says its support for the local developer community has helped create many useful applications, with the next phase of growth being the Internet of Things.
“We have to galvanise the larger Sri Lankan developer community, and we are doing that by creating platforms that are open and secure,” said Supun Weerasinghe, Dialog Axiata group chief executive.
“Mobile connectivity has seen rapid growth with the introduction of micro charging through sachet billing,” he told a news conference to mark Google I/O Extended, a developer conference organised outside the United States to coincide with the internet search company’s annual developer conference in Mountain View, California.
“Mobile penetration levels are near 100 percent. Now, the move is to connect things,” Weerasinghe said, referring to IoT, where there is connectivity between physical objects like cars and factory floor machinery through the internet.
The conference was presented by Dialog Axiata through its IdeaMart web portal, in collaboration with the Google Developer group in Sri Lanka, to discuss industry issues. There was also an innovation exhibition alongside showcased new products and services that included robot contests, gaming zones and image recognition-based demonstrations.
Dialog Axiata’s IdeaMart provides developers tools to build mobile applications using the phone company’s services like text messaging and billing, and takes 30 percent of revenue, with 70 percent going to the application’s creators.
IdeaMart now has over 2,500 members and 2,900 applications.
“We endeavour to put technology in the hands of young talent who can create new products and services that can make a lasting difference and improve the quality of life of Sri Lankans,” said Weerasinghe.
(COLOMBO, May 19, 2017)


text:
Speakers at a discussion in Rangpur underscored that small, cottage and handloom industries in rural areas can promote trade and business while creating job opportunities for the local unemployed youths would enhance rural economy.
The opinion came at the discussion arranged in the concluding ceremony of a three-day 'Natun Jibon Banijya Mela-2017' (New Life Trade Fair) at Public Library ground in the city on Saturday.
The Social Development Foundation (SDF) under the Bank and Financial Institutions Division arranged the fair to exhibit and sale products being produced by rural poor through Village Samities and create their linkage with traders and market operators.
Different SDF-assisted Village Samities and rural entrepreneurs of Rangpur, Dinajpur, Nilphamari, Kurigram, Naogaon, Gaibandha, Khulna and Satkhira districts set up 40 stalls in the fair.
Divisional Commissioner Kazi Hasan Ahmed attended the concluding ceremony as the chief guest and distributed the prizes among the stall owners.
With Managing Director of SDF AZM Shakhawat Hossain in the chair, Police Super Mizanur Rahman and Khulna Regional Director of SDF Golam Farukh addressed the ceremony as special guests.
Members of the Village Samities, being run with SDF assistance, from different districts, small scale rural entrepreneurs and representatives of different trade bodies, bankers, traders, market operators and business community leaders were present.
They stressed on ensuring quality products maintaining standards to enhance business at local market and increase exports to earn foreign exchange.
The chief guest appreciated SDF for arranging the fair of the Village Samities and SDF assistance in flourishing small and cottage industries to strengthen rural economy," he added.


text:
A Belfast entrepreneur hub has helped to create more than 230 jobs in its first year.
The Ulster Bank-supported Entrepreneurial Spark Hub has helped create 230 jobs and secure £5.3m investment for businesses.
The Entrepreneurial Spark Impact Report, which showcases the scale of the effect that the world’s largest free business accelerator has had for entrepreneurs across the UK, details the success of the programme which provides support for start-up and scale-up businesses.
It has been operating in Belfast for just one year.
Belfast, which is host to one of the 12 Entrepreneurial Spark locations across the UK, recorded almost £12m in turnover for businesses based at the Hub, and over 110 businesses receiving support through the programme which provides mentoring, office space and business networking programmes to enable local entrepreneurs.
Lynsey Cunningham, Entrepreneur Development Manager at Ulster Bank, said: “This is a fantastic result that shows the strength of Northern Ireland’s entrepreneurial talent pool and the role Entrepreneurial Spark is playing in helping it realise its potential. Every day I work with the exciting potential and people that we have to build and grow businesses of the future and impacts like these are really inspiring.
“As a bank we’re aiming to be the number one for customer service, trust and advocacy and to see the success of the Hub in its first year is a testament to how our partnership with Entrepreneurial Spark is making a practical difference and providing meaningful help for what matters.”
As part of its commitment to adapting to meet the needs of local entrepreneurs, the Hub is rolling out a new model to allow it to offer more specialised, bespoke support for businesses at all stages of their life cycle.
Karen McCallion, Belfast Enabler at Entrepreneurial Spark, said: “We’re aiming to create positive social change by building the people that build businesses. It is really rewarding to see the tangible impact that the Belfast Hub has had after just one year. It’s proof that our approach works and we’re excited about achieving even greater success with our next intake and new model.
“Collaboration and removing the stigma of failure are at the core of what we do – it’s not just building businesses, it’s contributing to a business environment where people really celebrate entrepreneurship.”
Jonathon Clarke, founder of Locate a Locum – an online platform for connecting pharmacists with employers across the UK – has been one of the businesses based as the Ulster Bank-backed hub.
He addd: "Starting out as an entrepreneur can be a lonely business - but the support of my enablers in Entrepreneurial Spark and people at Ulster Bank has helped connect me to a much wider network.
"Being part of the Hub gave me the confidence to leave my job and take those first steps to found my business. It's really helped us to bring in new people, new investment and provide great energy for our business. It's been really invaluable and I'd recommend it to anyone who was starting out or scaling up their business."


text:
Adam Kay and Clare Mackintosh are among those selected for the Quick Reads 2020 campaign.
Launched in 2006, Quick Reads aims to help tackle adult literacy, mental health and social isolation through the power of reading. Since it’s inception it has distributed over 4.8 million copies of more than 100 titles, and the books have been loaned more than five million times through libraries. Each year they work with best-selling authors to produce six short and engaging books for adult readers and previous authors have included Jojo Moyes, Ian Rankin and Anne Cleeves. In 2018, after announcing they were unable to secure financial support, Jojo Moyes generously offered funding to continue Quick Reads for a further three years.
The 2020 campaign will feature a short story from Mackintosh called The Donor and a specially adapted version of This is Going Hurt from Kay.
The titles retail at just £1 each and will be published on 20th February 2020.


text:
The first thing you need to do is choose a news reader, if you already don't have one. This is a piece of software that checks feeds you have requested and lets you read any new articles that have been added. There are various types of news reader. You should choose one that will work with your computer’s operating system.
When you have chosen a news reader, you can decide what content you want to keep up to date with. Please choose from below:
|Albania||Bosnia and Herzegovina||Bulgaria||Croatia|
|INTERVIEWS BY BALKANS.COM|
Alternatively, you can paste one of the BBN RSS URLs into a new feed in your news reader.
|E-mail article||Save||Additional News in English||Još vesti na Srpskom||Επιπλέον ειδήσεις στα Ελληνικά||Text|
Fashion retailer Koton is one of the most recent tenants in the future Romanian AFI Ploiesti shopping mall, taking the projects’s occupancy rate to 90 percent, AFI Europe Romania, the center’s developer, has announced.
The mall, whose total sales area has been increased from an initial 28,000 sqm to 33,000 sqm, will be officially opened on October 3 this year. AFI Europe is presently working on the project’s second phase which consists of expanding its initial entertainment area by 4,000 sqm. Part of this will be leased by Cinema City which already runs a multiplex in the Ploiesti ShoppingCity mall.
AFI Ploiesti is promoted as the first modern shopping mall in downtown Ploiesti However, the project will be the second of this kind in the 200,000 inhabitants city after in November 2012, Carrefour and New Europe Property Investments (NEPI) have opened a 55,000 sqm shopping mall on the city’s outskirts. Ploiesti Shopping City is located close to the National Road 1 (DN1) which connects Bucharest to the Prahova Valley and required a EUR 65 million investment.
AFI Palace Ploiesti is being built on the Gheorghe Doja Street and will host some 100 shops. The latest tenants in the shopping mall are Koton, Smyk, Vicina, Hello Kitty, Sabon, Carturesti, Jack and Jones, Braiconf and Leonardo. Other future clients include Cora, Flanco, H&M, New Look, Reserved, Mussete, Timeout, Collins, Nike, Aldo, Motivi, Otter, Lee Cooper, Il Passo, B&B, Jolidon, KFC, McDonald’s, El Bacha Restaurant, Quasi Pronti, Pizza Dominium, Thang Long and Pizza Bonita. Business Review Romania
Related News in English
Povezane vesti na srpskom
Συναφείς Ειδήσεις στα Ελληνικά


text:
Update on McNabb
Maserati has named longtime Chrysler executive Bob Graczyk as CEO of its North American division.
He replaces Mark McNabb, who previously worked for Cadillac and Infiniti. McNabb had led Maserati since June 1, 2009. McNabb will join Volkswagen Group of America as COO May 1, and sales will be his primary responsibility.
Graczyk was director of sales for Chrysler's Asia Pacific business unit. He joined Chrysler in 1985.
The change comes as Maserati aims for ambitious sales volume—50,000 units annually around the world—by 2015. The company is launching a redesigned Quattroporte and the BMW 5-series-fighting Ghibli this year.


text:
Any score of above 50 indicates the industry is growing, so this represents a surge in manufacturing activity.
However, it does not necessarily indicate a return to sustainable growth. Some of this activity was likely caused by fear rather than optimism.
Suppliers’ delivery times worsened at the most rapid pace since the first lockdown, with businesses citing delays at ports as a key problem. This also encouraged more stockpiling.
Duncan Brock of the Chartered Institute of Procurement and Supply, which carries out the survey alongside IHS Markit, said: “This rush to secure supplies meant already stressed supply chains paid the price with some of the longest delays in the near 30-year survey history.
“Bunged-up ports caused backlogs to rise to levels not seen for a decade and optimism for the year ahead dropped to a six-month low as the challenges for manufacturers just kept coming.”
“After a severely turbulent year, UK makers still have a great deal to worry about. Job numbers continue to fall, and material shortages have resulted in the highest cost inflation since 2018,” he added. “The sector is holding its breath until the terms of the new deal are fully understood and whether new business can be sustained in the same way in a post-Brexit marketplace.”
Meanwhile the eurozone’s manufacturing PMI rose to 55.2, led by Germany where it hit a near-three year high of 58.3.
Companies on the continent were also hit by supply delays and price rises, the survey found, while demand related to Brexit stockpiling contributed to strong sales in the month.


text:
Tokyo Stories December 7, 2015
Tokyo Stories June 1, 2015
Jay Blahnik, one of the lead directors behind the health and fitness functionality in iOS 8 and the Apple Watch, is continuing to host events at Apple Stores. At the end of April, Blahnik held an interview with Christy Turlington Burns at an Apple Store in the United Kingdom, and now Blahnik is making his way to Australia and Asia. Late last week, Blahnik held a Q/A session in Australia with personal trainer Michelle Bridges. Here are videos of Blahnik discussing the importance of walking along with other health tips with Bridges:
Tokyo Stories March 27, 2015
We reported last month that Apple was creating Apple Watch displays inside department stores in London and Paris, adding earlier this month that Tokyo was joining the party. All three stores-within-a-store are now official, with entries on Apple’s website. As we previously noted, the locations are Selfridges in London, Galeries Lafayette in Paris and Isetan Shinjuku in Tokyo.
All three are opening on April 10th, the same day Apple Watchs are available for preview and pre-orders in Apple’s own retail stores, and are being given a high-profile presence in each department store … expand full story
The best 4K & 5K displays for Mac
Tokyo Stories March 25, 2015
This render provides our first look at Apple’s plan to build a sizeable new R&D center in Japan. We first heard that Apple would be building a facility “on par with Apple’s biggest R&D centers in Asia” from the Japanese Prime Minister late last year.
Japanese news site NHK reports that the center will be built on the outskirts of Yokohama, the second biggest city in Japan after nearby Tokyo. The city’s mayor announced in a news conference that Apple had purchased the remains of a Panasonic factory on the site, and would be building a 25,000 square meter facility over four floors. The scale of the building would suggest that it could accommodate around several hundred employees, though Apple may of course be allowing for future expansion. expand full story
Tokyo Stories March 15, 2015
At the Isetan Department Store in Shinjuku, Tokyo, Apple is building a store specifically for the Apple Watch on the ground floor. Macotakara thinks it might be a permanent fixture because it is listed in the mall directory below.
Japan is one of the 9 countries where the Apple Watch will launch on April 24th. Earlier this week we saw the size of the Apple Watch Store at Galleries Lafayette in Paris and at London Selfridges. Apple also began advertising for its Apple Watch in its traditional stores this week.
This will take some getting used to. Imagine a world where there is an Apple Store on one side of the mall and an Apple Watch store on the other like so many Starbucks. expand full story
Tokyo Stories July 18, 2014


text:
PARSIPPANY, N.J., Jan. 20, 2015 /PRNewswire/ -- With Americans suffering from one billion colds each year1, it's no wonder that people sometimes go to great lengths to help keep themselves and their loved ones healthy. What they may not realize is that with the extreme measures they take to avoid germs, they can almost become a different version of their normal selves – taking on an "alter ego" that practices preposterous, eyebrow-raising behavior. That's why Lysol®, an RB brand, has developed a guide of common germ alter egos; shedding light on these ridiculous behaviors and providing solutions to "#LysolThat" so you can be your normal self.
Lysol challenges families to practice basic but effective hygiene habits like hand washing, proper sneeze and cough etiquette and regular surface disinfection to help prevent the spread of cold and flu germs – rather than morphing into an awkward "alter ego" that resorts to extreme germ-avoidance behavior such as:
- The Magician, who disappears from germy situations while conjuring props to assist with germ avoidance
- The Touch-a-phobe, who contorts to avoid contact with any surfaces
- The Defriender, who clears their social calendar during peak cold and flu season
- The Avoidenator, who avoids all mass public gatherings
"With the excitement and opportunities that each New Year brings, we want to help families put their best foot forward rather than take on extreme and ineffective behavior in order to avoid illness," said Conor O'Brien, marketing director, Lysol. "As part of the Lysol mission, we are passionately committed to helping people stay healthy by educating them about the key steps they can adopt to help prevent the spread of germs. By practicing simple healthy habits like handwashing, you can feel good about the steps you're taking to avoid catching cold and flu and enjoy what matters most."
For 100 years Lysol has been the germ kill leader, continually supporting cold and flu prevention with a full range of products to effectively stop harmful germs from spreading. Lysol No-Touch Hand Soap removes 99.9 percent of bacteria from hands and Lysol Disinfectant Spray and Lysol Disinfecting Wipes eliminate 99.9 percent of germs on commonly touched surfaces, perfect for any Touch-a-phobe or Avoidenator!
To avoid the spread of the flu, the CDC guidelines include actions such as:
- Take time to get the flu vaccine
- Take everyday preventive actions to help stop the spread of germs such as washing your hands often with soap and water, and cleaning and disinfecting surfaces and objects that may be contaminated with germs like the flu
- Take flu antiviral drugs if your doctor prescribes them
For further information on staying healthy during cold and flu season, please visit the following resources:
- Lysol: www.lysol.com/coldandflu
- Centers for Disease Control and Prevention: www.CDC.gov
- Flu.gov: www.flu.gov
RB (formerly called Reckitt Benckiser) is the world's leading consumer health and hygiene company. The company has operations in over 60 countries, with headquarters in the UK, Singapore, Dubai and Amsterdam, and sales in almost 200 countries. The company employs approximately 37,000 people worldwide.
With a purpose of delivering innovative solutions for healthier lives and happier homes, RB is in the top 20 of companies listed on the London Stock Exchange. Today it is the global No. 1 or No. 2 in the majority of its fast-growing categories, driven by an exceptional rate of innovation. Its health, hygiene and home portfolio is led by 19 global Powerbrands including Mucinex, Durex, Scholl, Lysol, MegaRed, Veet, Finish, Air Wick, French's, Nurofen, Strepsils, Gaviscon, Dettol, Harpic, Bang, Veja, Mortein, Vanish and Calgon. At the start of 2014 RB had 43% of its core revenues coming from its 2 emerging market areas and 57% from its developed market area; 72% of core revenues came from the health and hygiene categories of the portfolio.
Fuelled by a new breed of talent who blend intellectual curiosity with commitment to the highest quality standards, RB is set to redefine the world of consumer health and hygiene. RB people and its culture are at the heart of the company's success.
For more information visit www.rb.com.
1 Center for Disease Control and Prevention. Available at: http://www.cdc.gov/ Date accessed October 8, 2014


text:
CONSUMER backlash over issues relating to food safety concerns in China have contributed to a disastrous result for McDonald’s in August financial results released overnight.
Global sales for the world’s largest fast food restaurant chain have declined 3.7 percent in August, compared with this time last year, on a same-store basis.
All three of McDonald’s global regions reported poorer results, headlined by the Asia/Pacific, Middle East and Africa region (includes Australia) where sales fell by a dramatic and unprecedented 14.5pc.
That is due largely to the recent crisis in the company’s China manufacturing operations, where major product supplier OSI was implicated in food safety breaches in its Chinese manufacturing plants supplying McDonald’s and other food service customers.
Publicity surrounding the food safety breaches (see Beef Central’s earlier news item) has had a damaging effect on McDonald’s sales in China, but has also impacted trade in Japan and certain other Asian markets, the company said.
“The APMEA region is in the process of undertaking recovery strategies in order to restore customers’ trust and confidence, while continuing to pursue value, convenience and menu initiatives that differentiate the McDonald’s experience,” chief executive officer Don Thompson told shareholders, in typical upbeat fashion.
In other regions, McDonald’s North American operations reported sales down 2.8pc compared with this time last year – another huge slump – while the Europe region operations were least affected, declining 0.7pc.
The company attributed the poor sales results in North America to “continuing broad-based challenges”, including sluggish industry growth in a highly competitive marketplace.
Soft top-line results are expected to pressure US region margin performance in the third quarter, the company warned.
Europe’s comparable sales decrease of 0.7pc in August reflected positive performance in the UK, more than offset by weak performance in Russia, due to imposition of recent trade embargoes sparked by Russia’s aggressive actions in the Ukraine.
For the third quarter, weak consumer sentiment is expected to impact Europe region restaurant sales and profitability, particularly in certain predominantly company-operated markets.
“McDonald’s global business faced several headwinds that impacted sales performance during August,” CEO Don Thompson said.
“As a system, we are diligently working to effectively navigate the current market conditions to regain momentum. For the long-term, we remain focused on strengthening the key foundation elements of our service, operations and marketing to maximise the impact of our strategic growth priorities for our customers and our business,” he said.
As the company continues to assess the impact of the supplier issue in China, it currently estimates that the episode will negatively impact third quarter results by about US15-20c per share, in comparison to prior year results. This is largely due to a combination of lost sales, expenses associated with recovery efforts, and the impact of these items on the third quarter tax rate.
An update on the company’s full-year 2014 financial outlook will be provided during McDonald’s third quarter earnings release in October.
McDonald’s is the world’s largest food service retailer with more than 35,000 locations serving 70 million customers in 100 countries each day. Australia is a major supplier of raw material and finished burger patties to McDonald’s network across the Asia/Pacific region, and raw material into its North American operations.
HAVE YOUR SAY