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Based on information recently shared by China’s Ministry of Industry and Information Technology pertaining to upcoming models sold in China, NIO will be upgrading the batteries in some of its EVs soon. Interestingly, the battery cells specified will come from a semi-solid-state battery supplier.
There has been news about solid-state battery breakthroughs for years, and the battery technology has actually been proven to work as advertised. However, according to most experts in the field, it’s not yet ready for electric cars. This could change at any point in time, but while we’ve been waiting for that to happen, numerous companies have had to delay their promises.
In this case, it’s not as though NIO came forward and made a big announcement to the world that it will officially be the first EV maker to equip production passengers cars with solid-state batteries. Rather, the news came much more quietly.
Just last week, China’s Ministry of Industry and Information Technology released an updated list of models that will be sold in China going forward. Electrek says the ministry provides the information on a regular basis to point out specification changes as part of China’s regulatory process.
The interesting part is that NIO filed to expand battery specifications for three models on the list. While the filing doesn’t specifically call out solid-state battery cells by name, it does confirm that the battery upgrades will come from Huzhou WeLion Technology Co Ltd., which is a subsidiary of NIO’s semi-solid-state battery supplier WeLion New Energy Technology.
The information also doesn’t specify which vehicles will get the new battery technology. However, it does mention that two NIO SUVs and one NIO sedan are getting battery upgrades.
It’s important to note that back at the beginning of 2021, NIO said it had plans to fit the ET7 sedan with a 150 kWh solid-state battery pack. The Chinese automaker hasn’t yet followed through with those plans or shared many details related to their progress. However, in February 2023, NIO founder and president Qin Lihong said customers would be able to get the 150 kWh pack this coming summer.
There are still plenty of questions here, and cost will likely be a huge deterrent. If NIO does offer the pack as an option, it will not be cheap. We will have to wait and see how this all pans out, but it may be safe to say that NIO is well on its way to being one of the first EV makers to offer solid-state tech, and it appears it may do so with the help of WeLion.


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Tuesday, November 1, 2016
The lunch time event will include appetizers, lunch and a vintage wedding fashion show.
Attendees can bid on items in a silent auction.
The event begins with appetizers at 11am.
It will be held at Anderson Plaza, 17201 15th NE in Shoreline's North City neighborhood.

domain: news


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Oregon’s former first lady Cylvia Hayes issued a newsletter Saturday, expressing interest in expanding her consulting business in the cannabis industry. Even after her interests in cannabis contributed to a public scandal in the past, Hayes is not backing down from her plans on entering the growing industry.
Hayes sent out the first installment of her new sustainable cannabis newsletter on June 22. Hayes promised to incorporate “strategies, best practices and resources to help cannabis businesses make money in an environmentally sound and socially beneficial manner.”
The businesswoman was recently caught up in a scandal that involved her fiancée, former Gov. Albert Kitzhaber. Authorities questioned whether her investments were ethically sound for her position. Federal prosecutors linked influence peddling charges, but the charges were ultimately dropped, and both inquiries were closed. Now both Kitzhaber and Hayes are rebuilding their careers after being scarred by the allegations. Part of the scandal involved Hayes’ own interests in cannabis and environmental factors. According to a June 17 Facebook post, Hayes is writing a book about her personal experience about public shaming, and the effects of a baseless scandal.
Hayes’ consulting firm, 3E Strategies, plans to empower cannabis entrepreneurs in developing their business and becoming social enterprises. The company offers services to cannabis cultivators and sellers with an emphasis on energy efficiency, water conservation, carbon emission reduction and marketing. Hayes is also an instructor in “A Course in Miracles,” a study course on spiritual transformation under the renowned motivational speaker Tony Robbins.
The former First Lady has a long experience with the cannabis industry. Hayes admitted that she lived at a planned cannabis grow site in a remote area of Washington about 20 years ago. Unfortunately, the grow site never completely materialized and she wasn’t financially tied to the operation. Hayes is now on her way to rebranding herself as a consultant in the cannabis industry.


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» Difference Between Ipad 3 And Ipad Air Reviews
Difference Between Ipad 3 And Ipad Air Reviews
Difference Between Ipad 3 And Ipad Air Reviews on Technology News and Updates AdmaTechnology.com at Wednesday, April 23, 2014
The news about the presence of the successor to the iPhone 5 more widely heard. If previously only known to be released summer of 2013, the latest info mengunkapkan that the smartphone is ready to go July.
Quoted from Techradar, Tuesday (30/4), about [...]
Samsung has finally officially introduced the new members in the family of Galaxy Note, the Galaxy Note 8.0.
Quoted from IGN, Monday (2/25), the South Korean manufacturer utilizing the Mobile World Congress 2013 in Barcelona February 25 to 28 to show [...]
One of the most popular mobile game, Fruit Ninja, in the foreseeable future can be downloaded for free for iOS devices.
Quoted from Slashgear, Friday (12/4), it also makes Fruit Ninja as ‘App of the Week’ in the iTunes App Store.
The owners [...]
WhatsApp has been widely used by a number of platforms such as Android, Blackberry, Symbian, Windows Phone and iOS.
WhatsApp apprise that it’s quite fun for the users of the Apple iPhone 5.
Mobile instant messaging has proved its existence in many [...]
IOS Users no longer need to envy the Android users who have been enjoying Angry Birds for free.
For the first time since it was released in 2009, as a game developer Rovio decided to change the price of being free in the App Store.
Quoted from Ubergizmo, [...]
The device is also reinforced with a battery that can last 9 hours.
Sandy Storm did make Android Google canceled the event due to be held in New York City, yesterday local time. However, that does not mean Google Nexus series canceled announced their [...]
Your comic lover and owner of an iOS device? Do not miss this one application.
Marvel Comics tried to offer around 13 thousand popular comics in an application called Marvel Unlimited.
Quoted from Slashgear, Friday (3/8), the user will be given the freedom [...]
Update Facebook app for iOS brings free phone features such as who has owned his messenger application.
Through this feature, users can make phone calls at no cost via Wi-Fi or 3G. Want to know how? Consider the following steps.
1. Go to the Facebook [...]
Rumors that Samsung will release the Galaxy S4 Dual-SIM version became a reality.
Quoted from Ubergizmo, Sunday (28/4), the South Korean manufacturer officially introduced the Galaxy S4 Duos.
Besides being able to be pinned two SIM Card at once, no more [...]
Good news for all you lovers of the game The Sims. Electronic Arts officially announced that The Sims 4 ready to be released in 2014.
Quoted from Ubergizmo, Tuesday (7/5), EA sure about human life simulation game is being developed for PC and Mac.
If you had to choose between Galaxy S4 or the iPhone 5, which one is your favorite?
This question may arise when someone wants to buy the iPhone 5, but curious to see what the Galaxy S4 and decided to wait for him to be compared directly.
For that, AdmaTechnology tried [...]


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Maxis claims exclusivity dibs on the OnePlus One in Malaysia
Just about a year ago, the internet was flooded with the tagline "flagship killer" and on April 25 2014, the OnePlus One officially went on sale. But the catch is you'll need to get yourself an invite to purchase the One. One year later, the invite system is still there but more widely available.
Well today, Maxis officially confirms they will be exclusively carrying the OnePlus One in Malaysia. This comes after the fan meetup they held earlier this year in which fans got the chance to try out the device personally.
If you're not familiar with the OnePlus, it is formed in 2013 by Oppo's ex-chairman and currently they only have one smartphone in their product line. The OnePlus One has been quite a success to the company as they managed to sell more than 500,000 units even with the ever so selective invite system.
But what's unique about the OnePlus One is that it runs CyanogenMod out of the box but since then both companies have had their differences and just this week, OnePlus released Oxygen OS which is the official OS for the device.
Under the hood, the OnePlus One features a Snapdragon 801 CPU, a 5.5" 1080P display which was quite respectable when it came out last year. On the back, the device features a 13MP camera capable of 4K video, a 5MP front facing camera and 32GB and 64GB storage options.
From the looks of the poster above, the OnePlus One's RRP is 1,299 and Maxis plans to offer it for only RM 959 with a MaxisONE package. and No, you don't need to have an invite to purchase this device from Maxis.
Is it worth the money, well i don't think so. Given that there are rising rumors of two new OnePlus devices in the pipeline, i would highly recommend you to give it a little wait for a better offer.


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The phones will underline softened cameras, bigger batteries, an softened fingerprint sensor on a back of a box and power-saving facilities supposing around Marshmallow software. One other critical yet little-known underline of a new OS should offer incomparable confidence to business users and IT managers, analysts said.
Namely, that new underline in Marshmallow puts a ability to apart work and personal apps and services right inside a OS, something that is mostly supposing by phone makers as appendage software.
That capability, called containerization, is not a new concept, yet a accessibility is deliberate critical to businesses to keep workers from improperly pity supportive corporate information around personal email or in other ways. For users, gripping personal photos and other personal information in a apart space creates it easier to classify and safety that data, generally if a workman has to obey a phone to a business for some reason.
“Google has built a judgment of containerization right into a new OS, something that Apple has not nonetheless done,” remarkable Gartner researcher Ken Dulaney on Tuesday. Referring to a prior Android release, called Lollipop, he added, “We have been really tender by Lollipop and Android for Work. We consider that Marshmallow usually takes this serve for business.”
By putting containerization directly inside Marshmallow, Google creates it easier to apart any app for personal use contra work uses, Dulaney said.
Prior to this release, an Android app developer had to emanate opposite versions of a singular app for any opposite mobile device management (MDM) package. “Now all apps can be containerized, and that gets Android divided from a synthetic strictures” of any MDM package, Dulaney said.
Both new phones will be means to take advantage of Marshmallow’s containerization capability, as will Nexus 5, 6, 7 and 9 phones in an over-the-air refurbish subsequent week, Google announced.
Both new phones using Marshmallow are also accessible for pre-order today, unlocked, in a Google Store in 4 countries, including a U.S. The new Nexus 5X, built by LG, facilities a 5.2-in. display, and starts during $379 for a 16GB model. The Nexus 5P, built by Huawei, facilities a 5.7-in. arrangement and starts during $499 for a 32GB model. Both will boat in mid-October and both embody discerning 64-bit processors.
Google CEO Sundar Pichai non-stop today’s eventuality with a justification for Nexus devices, that he referred to as companions to a latest Android software. “What we do any year is lift a subsequent era of computing brazen and build hardware to work together and go along with a subsequent era of software,” he said. “We do that with Nexus devices.”
All of Google’s latest technology, including softened appurtenance training capabilities in Android 6.0, are dictated to urge a user experience, he added.
Android for Work, that Google announced a year ago, now is being tested, or is partially or entirely deployed by 10,000 companies, Pichai added. These organizations embody a World Bank, a U.S. Army and Guardian Life.
Android has not been as renouned as a iPhone for use in U.S. businesses, even yet Android inclination from mixed manufacturers distant transcend a use of iPhones globally for consumers and workers alike. In a second entertain of 2015, Gartner recently reported, Android took 83% of a tellurian smartphone market, with iOS removing 12%. Android for Work is designed to supplement capabilities indispensable by IT shops, including centralized government of apps, inclination and services.
But a phones “are a approach for Google to uncover off a program and now some-more than ever they seem to have to do that since successful Android developers are [changing or] layering their ‘stuff’ on top,” pronounced Carolina Milanesi, an researcher during Kantar WorldPanel ComTech.
The latest phones from Google are some-more about “proving what Android 6.0 can do as good as what a pristine Android knowledge during a rival cost indicate can offer,” she added. Nexus sales have not done a disproportion to Android overall, totaling usually about 1% of all Android sales, she said.
“But Nexus has helped LG infer they can do good devices,” she said.
“Both new phones demeanour competitive, generally if we are looking for a highest-end Android smartphones,” combined Patrick Moorhead, an researcher during Moor Insights Strategy.
Compared to a latest iPhones, a new Nexus phones will cost reduction and offer particular laser camera concentration and higher-resolution displays, he said. “With these new phones, Google will continue to reason onto Android enthusiasts, yet we haven’t seen anything that would lift a lot of Apple business over,” Moorhead said.
However, for businesses, Google is relocating in a right instruction with Nexus using Android, Gartner’s Dulaney added. “Google has indispensable to have during slightest an choice with Nexus like Apple does, where there are inclination that accept updates directly from Google with a batch Android image,” he noted.
Without Nexus, a routine of upgrading by several Android phone makers involves mixed steps. This has proven frustrating for business users who wish to stay sideways of Android advances and take advantage of them as shortly as possible.
“Nexus gives a marketplace a direct-from-Google option, that we consider usually keeps a marketplace stronger,” Dulaney said.
While a new Nexus cameras competence not be a executive inducement for business buyers, there are many business users who will take advantage of a 12.3-megapixel back camera in a Nexus 6P and a 12-megapixel back camera in a Nexus 5X. Both cameras also underline incomparable pixel sizes for softened photos, incomparable even than a iPhone 6S Plus, Google announced.
Hundreds of Marshmallow facilities were first announced during Google I/O in May. Google pronounced a back fingerprint scanner will support Android Pay authorizations and will clear a phones in 600 milliseconds, with a really low disaster rate. The fingerprint reader will also “learn” any time it is used to urge functionality.
Further, Google pronounced a new phones will revoke a volume of preloaded software, as a response to users’ complaints that too many Android phones have too most bloatware. Google didn’t contend how most preloaded program will be provided.
One feature, called Now on Tap, will mix Google hunt capabilities with mixed features. In a discerning demonstration, Google showed how a prolonged press on a home symbol from within a hunt for a grill non-stop adult combined information, such as directions to a grill or Yelp reviews and even a ability to fast emanate a calendar event.
Because of Marshmallow, a batteries in both phones will final longer on a charge, with adult to 30% some-more life with a shade off, Google said. The Nexus 6P boasts a large 3,450-mAh battery, while a 5X has a 2,700-mAh battery.
One new underline that business users competence find generally profitable is Nexus Protect, that offers a two-year guaranty for automatic relapse as good as random damage. Previously, Nexus had a one-year manufacturer’s guaranty only. Nexus Protect will cost $65 for a Nexus 5X and $89 for a Nexus 6P, and users can record a explain for a damaged phone any time, afterwards accept a deputy device a subsequent day, Google said.
Google also charges $30/month for Project Fi, now stretched to a Nexus 6P and Nexus 5X. Launched in Apr on a Nexus 6 smartphone, Project Fi combines mobile and Wi-Fi network services for a users, and uses a Sprint and T-Mobile mobile networks.


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It seems like every year there’s more to get a stomach ache about at The Thanksgiving Table -- 59% of Americans feel that talking about politics with people they disagree with is stressful and frustrating. 51% feel anxiety over the upcoming election year. And 45% feel as if the rhetoric and discourse will negatively affect their well-being.
So what to say at the landmine-filled Thanksgiving table? How not to upset your GenX cousin AND your Great Aunt Cathy?
The Telly Awards is opening its annual call for entries with added categories in Immersive & Mixed Reality, Social Impact, along with Diversity & Inclusion; all of which represent the rapidly shifting trends in video content from this past year.
This 41st edition of the Tellys is also rolling out an all-new theme dubbed “Telly Award Winners Tell Great Stories”, focusing on their commitment to celebrating video content in countless [Read More]
Rainbow Railroad, the world’s only international nonprofit solely devoted to helping lesbian, gay, bisexual, transgender, queer, and intersex (LGBTQI) people in danger find legal pathways to safety, is launching a public awareness campaign in support of LGBTQI people who face persecution, violence, and the threat of death in almost 70 countries around the world where it remains illegal to be who you are. The pro-bono initiative called “Help Other[Read More]
Partnership for Drug-Free Kids launched two campaigns examining the impact opioid addiction has on the families affected by their loved ones’ addiction-- a powerful shift for this type of advertising, which typically focuses on the addicts themselves. The work, which offers hope and support for struggling parents and families, was created pro-bono by independent full service agency, Terri & Sandy, and is runnin[Read More]
Pavone Marketing Group announced that it has acquired two companies: Netplus, and Phalanx Digital. The acquisitions effectively expand Pavone’s digital marketing capabilities while increasing its client roster in higher education, food and beverage, automotive, and s[Read More]
Elizabeth (Liz) Nunn has joined quench food and beverage agency as Director of Shopper Marketing. In this new role, she is leading both brick-and-mortar retailer programs, as well as the agency's e-commerce initiative, with a focus on the consumer's personalized path [Read More]


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Directors at Procter & Gamble have backed the consumer products giant’s chief executive, Robert A. McDonald, and his plan to turn around the company, according to a regulatory filing on Wednesday, setting up a potential fight with the activist investor William A. Ackman. But the board added that it was “monitoring” the plan’s effectiveness.
The statement is the first official response from Procter & Gamble’s directors since Mr. Ackman said last week that his firm, Pershing Square Capital Management, had taken a stake in the company.
Mr. Ackman could make a management shake-up one of the central tenets of his campaign against Procter & Gamble, pointing to the company’s relatively moribund stock performance under Mr. McDonald, according to a person with knowledge of the plans.
In the three years that Mr. McDonald has run Procter & Gamble, the company has ceded market share to rivals and cut its earnings estimates several times. He has pledged to save about $10 billion by reducing costs, though some analysts have been skeptical of that target.
The company, whose products include Tide detergent and Gillette razors, is the biggest target in Mr. Ackman’s career. He has previously taken aim at Fortune Brands, now split up into the liquor maker Beam Inc. and Fortune Brands Home and Security; the Target Corporation; and the Canadian Pacific Railway.
Shares in Procter & Gamble were up slightly in midday trading on Wednesday, at $64.98.


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Buried in the Starbucks (NASD:SBUX) 10-K is a reference to the company's long-term goal of having 15,000 stores in the U.S. and 15,000 stores overseas. The company also expects 20% per year net revenue growth for the next three to five years. On October 2, 2005, when the company's fiscal year ended, it had 6,000 stores owned by the company and 4,241 operating under license.
When the company announced its Q2 earnings (fiscal Q2 ending April 2, 2006; see conference call transcript), it stated that its goal was to open another 1,800 new stores globally by the end of the year. That would get them over 12,000.
There is no doubt that Starbucks is a growth engine. The company's revenues for fiscal Q2 were $1.88 billion up from $1.519 billion in the year ago period. Operating income rose from $157 million to $202 million. The company reaffirmed that it expects 20% net revenue growth for the upcoming quarter and the full fiscal year.
At the company's current revenue run rate, with 12,000 stores, the revenue yield per store would be $633,000. McDonald's (NYSE:MCD) currently has nearly 32,000 stores, up from 23,000 ten years ago. McDonald's revenue for 2005 was $20.46 billion, or $639,000 per store.
So, it is not unfair to ask if coffee is as popular as hamburgers. The answer may well be yes.
As Starbucks continues to add stores, there will naturally be a great deal of skepticism about whether it can keep up the pace. It would appear for the time being that the three to five year targets for revenue are not overly ambitious.
At $38.79, the stock is just shy of its all-time high. It's market cap is $29.6 billion. Any stumble in growth is likely to cause a pullback. But, today, the market is betting, with some good reason, that there is not a stumble in the foreseeable future.
SBUX 2-yr Chart
Douglas A. McIntyre is the former Editor-in-Chief and Publisher of Financial World Magazine. He is also the former president of Switchboard.com, which was the 10th most visited site in the world at the time, according to MediaMetrix. He has been chief executive of FutureSource LLC and On2 Technologies, Inc. and has served on the boards of TheStreet.com and Edgar Online. He does not own securities in companies he writes about. He can be reached at email@example.com.


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OAK BROOK, Ill., Sep 15, 2020 /PRNewswire/ — Doc Patels’ LLC, a leading provider of organic, broad-spectrum CBD products, today announced that Dakota Sullivan has been appointed chief executive officer. Dr. Rachna Patel, currently chief executive officer, has been appointed to the newly created position of chief medical officer.
Sullivan brings a wealth of experience to the role, having successfully led early-stage companies for more than 15 years. His strengths include driving growth while operating in highly regulated markets, differentiating brands in commoditized industries, and achieving profitable exits in competitive spaces with low barriers to entry.
Prior to joining Doc Patels’, Sullivan was co-founder, CEO of Calyx Brands, Inc, a wholesale distributor of THC and CBD products. Founded in 2016, Calyx was acquired by Canadian pubco Nutritional High International in 2018. Under Sullivan’s leadership, the company became the #1 edible distributor and one of the top 10 cannabis distributors in California overall, opening more than 2,000 retail dispensary accounts for over 50 brands including Plus Products, Defonce, Jane’s Brew, HGH Concentrates, Foria, Mood33, Habit Soda, Guild Extracts and Pure Ratios.
Before entering the cannabis industry, Sullivan served as SVP general manager, overseeing U.S. operations for global mobile tech platform companies Amobee and Velti and helped drive Velti’s successful 2011 NASDAQ IPO that raised $150M. Sullivan also served as chief marketing officer for behavioral targeting ad network BlueLithium, which was acquired by Yahoo in 2007 for $300M cash.
“Doc Patels’ is on the vanguard in one of the biggest opportunities in our lifetime,” said Sullivan. “Thanks to the efforts of Dr. Rachna Patel and founders Dr. Viren Patel, Joe Castelbuono and David Ortiz, no company is better positioned to win in the emerging CBD products market. I look forward to building on their success to set this brand apart and deliver powerful results for our customers, partners, employees and investors.”
With the appointment, Dr. Rachna Patel will be stepping into the new role of chief medical officer. A world-recognized expert in the field of cannabinoid medicine and author of the book The CBD Oil Solution, Dr. Patel has been featured in publications including The New York Times, NBC, LifeHacker and CannaInsider and has been widely interviewed on podcasts and blogs. Her personal CBD consultations have helped hundreds of people from many different countries manage a wide range of medical conditions.
“In an industry rife with confusion and misinformation, it’s my responsibility as a physician to guide users and other medical professionals to specific Doc Patels’ CBD products, potencies, and applications,” said Dr. Patel. “In my new role, I’ll be able to focus 100% of my time on helping more people directly and broadly educating the world about the potential of this amazing plant medicine.”
ABOUT DOC PATELS’
Founded in 2020 by Dr. Viren Patel, together with serial entrepreneurs Joe Castelbuono and David Ortiz, Doc Patels’ produces a full line of organic, THC-free, broad-spectrum CBD products. Renowned CBD expert Dr. Rachna Patel personally oversees the selection of ingredients and curates Doc Patels’ products, so users can feel confident in their purity and effectiveness. Doc Patels’ CBD products contain USDA-certified organic hemp grown on American farms and our consumable products use only high-grade MCT oil for easy digestion and high bioavailability. Doc Patels’ CBD products are available online at www.DocPatels.com as well as through physicians and private label partners.
For more information, please visit www.DocPatels.com
Email: [email protected]
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Last month it was reported uninstalling the Facebook app on Android dramatically improved performance; other reports have surfaced indicating 20% of battery life can be saved in doing so. The Guardian, curious to see the impact on iPhones, set to work with its iPhone 6S Plus and found battery life was impacted by 15%, even across multiple phones. As well, about 500MB of space was saved between the size of the app and its cache.
Between these benefits and the option to use the well-designed Facebook mobile website (which can be linked to via your home screen), you can see there are few reasons to keep the Facebook app on your phone, and many great reasons not to.
Facebook has been alerted to the performance issues; a spokesperson says the matter is being investigated.
Now available in over 60 countries, offering ridesharing, food delivery and working on driverless transportation, there is no denying that Uber is a force to be reckoned with, showing extremely successful performance in its short history.
Sometimes when a business expands they start releasing weird promotional videos and blog posts, with a new promotion seeing Uber likened to the invention of the bit and also to atoms. Attached to a new logo, this Uber promotion discusses current services and the advancement of driverless technology, explaining this company as some form of futuristic technology service.
Uber explains that to them the Atom is represented by "growing cities," then hinting that they are the pioneers of bringing atoms and bits together. Reading this explanation might make it sound like satire, but it's not. Read the full blog and watch the video here
Audio streaming service Deezer will come pre-loaded on Huawei's Honor smartphones in Europe, Latin America, Middle East, North Africa, Russia and South East Asia starting today.
Deezer boasts 40 million songs as well as 40,000 podcasts and audiobooks, and includes features like personal mixes. The company also hosts great live sessions like this one.
If you haven't been keeping up, Huawei recently became the #1 smartphone provider in China and #2 provider in Europe. Speculation says they're poised to overtake Samsung before long; the Deezer deal should only help that aim.
Samsung brought adblocking to mobile browser this week which promptly caught the ire of Google. Now pulled from the Play Store, the Adblock Fast app -- which used Samsung's custom API -- exceeded 50,000 downloads and appeared in the top charts in its short lifespan.
Fast was developed by Rocketship Apps; one of its staff members Brian Kennish posted the e-mail behind the jump from Google which was sent to them after the app was pulled without warning.
Not to be outdone by Alphabet's announcement of 1 billion monthly users of Gmail, Facebook has announced that WhatsApp is now home to 1 billion monthly users, too.
With WhatsApp still charging its $1 annual subscription fee to its users, with over 1 billion users - that's a nice amount of pocket change for WhatsApp each year, just on its annual subscription fee. Facebook founder and CEO Mark Zuckerberg took to his personal Facebook account, where he said: "One billion people now use WhatsApp. Congrats to Jan, Brian and everyone who helped reach this milestone!"
He continued: "WhatsApp's community has more than doubled since joining Facebook. We've added the ability for you to call loved ones far away. We've dropped the subscription fee and made WhatsApp completely free. Next, we're going to work to connect more people around the world and make it easier to communicate with businesses. There are only a few services that connect more than a billion people. This milestone is an important step towards connecting the entire world".
Today marks the end of free streaming through Apple's iTunes Radio service, which, as reported previously, is being rolled into its subscription-based service Apple Music. As of now, should you attempt to listen to the Radio service by any means, you'll be prompted to join Apple Music. The sole exception is the Beats 1 station, which is still available to iTunes users everywhere.
iTunes Radio launched in 2013 alongside iTunes 11.1 and iOS 7. Much like Spotify, it was ad-supported and encouraged discovery of new music through featured stations and various algorithms. Unlike Spotify, there was no ad-free subscription.
In its year-ahead look, Reddit co-founder and CEO Steve Huffman notes its Android app is going into beta today, with iOS to follow "soon."
Unfortunately, this is a closed beta, sign-ups for which began last month. So if you didn't sign up then, you're out of luck. If you did, check your e-mail.
Excitement for the app is paired with apprehension, as reddit's current iOS app Alien Blue has been extremely poorly received, with some users saying it's only gotten worse over time. Reddit's battle for approval is even more uphill than that, given quality apps Sync and Relay are already doing a great job of making the site easier and more enjoyable to browse on smartphones.
A fresh update for Google's chat app Hangouts adds in quick reply functionality. When a notification comes in for a call or message, so will a button that allows you to reply without entering an entirely new window. This is handy if you just want to shoot a quick message to someone, to tell them you're not available for a call or you'll be right back or whatever else.
The other key change in the update is conversation shortcuts, so now you can just click a button on the Home screen to talk to specific people.
You can find the APK at the source.
After initially announcing for May, Spotify AB will finally be introducing video content of all kinds to its Android app this week; iOS users will receive it by the end of next week (January 29), whereas desktop users won't receive it at all. The content will only be available in US, UK, Germany, and Sweden (at least for now).
Testing for the new content began months ago, during which time the company learned music-related videos like Epic Rap Battles are popular with users, and that users want compartmentalized content, so you'll be able to test out what are effectively playlists. Spotify already has this functionality for music, so it should feel familiar.
Apple has released a new app called Music Memos that lets you record basic songs on your iPhone, edit them a little, and then if you like, port them to GarageBand for heavy duty changes. It seems to be intended for sketching out song ideas -- particularly on acoustic guitar and piano -- when you're out and about, although the tools included and uncompressed, high-quality audio let you put together an impressive song just with the app itself, especially if you elect to connect an external mic.
Once you record the song, you can add in a virtual drummer and bassist which play along intelligently, speeding up or slowing down as appropriate. Hit the source for demos of this in action -- the result is surprisingly professional.


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2012 Super Bowl Statistics in Social Media
So another football season ended last weekend. Super Bowl 2012 might be over, but the impact it made on the media world continues to show online.
According to Metro, Super Bowl 2012 was the most tweeted about sporting event in history, seeing an estimated 13.7 million tweets about the game over the course of the 5 hour televised program. (Talk about engagement!)
As if the game wasn’t exciting enough (A heartbreaking Safety in the 1st quarter; the final game winning points) but the Super Bowl commercials made a splash as well! Each brand that was featured during Super Bowl 2012 got its very own spot on Brandwatch, describing the type of buzz each commercial (and its brand) got. Check out those rankings!
Brands like Coca-Cola, Kia, and Walt Disney are all featured, each getting a ranking of 6, 13, and 10, respectively, out of 38 brands.
So, Tom Brady might not have led the Patriots to victory in the 2012 Super Bowl, but hey, at least he can say he played in the most tweeted about Super Bowl in history! Congrats!
More Super Bowl Posts:
Find any other good stories on the Super Bowl? Let us know


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I don’t understand…
Metal Gear Solid V: The Phantom Pain is now out and a verified success, having sold 5 million copies worldwide since release. This should all but guarantee a Metal Gear Solid 6, in spite of the controversy surrounding series creator and director Hideo Kojima, and his status vis a vis Konami at the moment. And indeed, Nikkei reports (translated by Kotaku) that Konami has begun internal talks about Metal Gear Solid 6.
“When we start development, a large-scale investment will become necessary,” Konami is quoted as saying by the recent Nikkei article. Which sounds a little obvious before you consider that, wait a minute, no it doesn’t. The engine for any future Metal Gear game (that is, the single component of the games that involved the highest upfront investment) is now in place, thanks to the excellent work done on the FOX engine by Kojima and his team. The development pipeline is all in place as well. What, then, will require the investment? Hiring new development team, since Kojima Productions is formally disbanded?
Even in that case, Konami will probably outsource Metal Gear to a second rate western studio, which will probably result in a mediocre, franchise ending installment. Just like what happened with Castlevania. Just like what happened with Silent Hill.


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Beyond just the usual economic numbers which may not be detailed enough, retail sale is a good indicator of whether or not the market is full of positive people or negative ones. If we are not so positive with the future outlook, we tend to save our money instead of spending it. OR it may also mean people will continue buying and spending more of their income instead of saving? Their argument may be that property prices are already too high anyway. Thus saving a couple of hundred ringgit a month is not going to help much. Earlier article here: Are we Earning, Saving, Investing and Preserving Perhaps we look at what is happening this year till end of 2019 instead.
Article in thesundaily.my Independent retail research firm Retail Group Malaysia has revised upwards its projected retail sale growth of the Malaysian retail industry for this year to 4.9%, from 4.5% estimated in March 2019. It said, “Despite the weak economic environment from both internally and externally, the higher growth expected during the second quarter of 2019 is mainly due to the Hari Raya period. This largest festival in Malaysia is celebrated earlier this year as compared to 2018.“ Its estimate for the last quarter of this year is maintained at 5.8%. This is because school holiday, year-end festival and expected higher economic activities should stimulate consumers’ spending during this period. The growth does not cover all sectors. Supermarket and hypermarket operators will not see improvement in their business in the coming months. They expect to remain in the red zone with a -7.4% growth rate for the second quarter of 2019. Double digits are possible too. Retailers in the pharmacy and personal care sub-sector remains optimistic of their businesses with a strong growth rate of 15.2% for the second quarter of 2019. Article in thesundaily.my
These days online purchase is becoming common and I think many predicted that it will kill the offline retail. My earlier article here: Online does not kill malls I really hope everyone looks at the more advanced nations where the malls continue to prosper, despite the fact that online retail sale will always be rising no matter who does the survey or research. As for Malaysia, positive numbers are good indicator that the job market remains strong. When people have jobs, they have money to spend. It would be better for them to balance between spending and saving but then again, one is an instant gratification while another may make them look bad among their peers. Tough choice indeed. Happy buying.
Article written and edited by Charles. News article summarised by Dina Batrisyia.
<Featured Image is courtesy of Stock Photos from Dean Drobot >
Next suggested article: Best property investment plan. Buy Low, Sell High.


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Competition in China's booming mobile payment market is set to intensify, after Didi Chuxing, the country's largest ride-hailing company, acquired a much-coveted license to enter the internet finance sector. The move is seen as posing a challenge to United States rival Uber as the Chinese company looks to expand overseas.
Apple admits to slowing down older iPhones
If you have an older Apple iPhone and think it seems to run a bit too slow, you're on to something. Some users reported seeing their phone's performance more than cut in half as the device aged.
According to CNBC, Softbank said it had invested, but did not disclose the amount.
According to Didi the fundraising attracted both Chinese and worldwide investors. "We will also embark on initiatives in building new energy vehicle service networks, as part of the company's efforts to lead the transformation of automobile and transportation industries and work towards global energy interconnection", it said.
Sen. Al Franken announces resignation date
But on Wednesday, Franken's office finally announced a timeline for his resignation in the midst of the tax bill being passed. . But he insisted that some of the allegations against him were "simply not true. others, I remember very differently".
Sources, reported by the Wall Street Journal, said that Softbank - the Japanese telecoms and ecommerce group, and an existing investor - was among the latest investors, as well as the Abu Dhabi sovereign wealth fund Mubadala Capital.
Didi president Jean Liu told The National last month the company was in no hurry to raise further money via an initial public offering, noting that the company was well-capitalised and that there was no pressure for a listing from its investors.
US defensive end Micah Parsons headed to Penn State
He'll play defense for the Lions, either at defensive end or linebacker, a spot where the Lions are looking thin for 2018. The time has come I'm officially committed! Even without Parsons' signature, the Buckeyes are still in pretty good shape.
The Beijing-based company is the world's second-most valuable startup, trailing only Uber Technologies Inc., and is said to have been valued at $50 billion after raising more than $5.5 billion in April.


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Ask A Question!
Amazon Walks Back (Crazy) New Fee on Sellers Not Paying for Amazon Logistics
Report from Bloomberg
In Brief – Just a month after announcing that third-party sellers will be charged a new 2% fee if they fulfill orders themselves as part of Amazon’s Seller Fulfilled Prime (SFP) program, the ecommerce and logistics giant has announced that they are abandoning the fee increase due to negative seller reaction. On the Amazon Marketplace, most sales involve products that qualify for “Prime” designation, including sales by third-party sellers. Most Prime products are stored, picked, packed, and shipped by Amazon’s Fulfilment By Amazon (FBA) logistics system. In 2015, the company created a limited SFP program to allow third-party sellers to use alternative logistics services and still qualify for Prime. However, in 2019 entrance into SFP was suspended, pushing all new Prime-eligible sellers into FBA. Amazon announced this summer that SFP was selectively reopening but it reportedly remains difficult to join.
Context – Amazon announced the fee increase on sellers who do not use FBA at the same time the Federal Trade Commission was wrapping up work on what is expected to be a major antitrust complaint. The move was seen by industry experts as a finger in the FTC's eye. Jason Boyce, an online sales advisor, said the new SFP fee “shows Amazon is not scared at all.” Now? It's out-of-date thinking to see Amazon as a low-price online retailer trading profits for market share. Smart analysts now focus on how Amazon's third-party marketplace pushes sellers to use its massive FBA logistics service and advertise on Amazon. When all those fees are calculated, sellers on Amazon now often pay 50% in fees. It’s become their top antitrust problem. In the EU, Amazon offered to change practices that push sellers into FBA to settle a major antitrust complaint, and they are offering similar changes to address antitrust concerns in the UK. Whether they do the same in the US remains to be seen. Amazon is also widely accused of using “dark patterns” to nudge consumers to not cancel Prime. They have changed practices in Europe on that issue, but not yet in the US, where they still face an FTC complaint.
X Sues to Block California’s Social Media Content Moderation Law
Report from Reuters
In Brief – X Corp, formerly known as Twitter, has sued the State of California in federal court to block the enforcement of AB 587, a state law enacted last year imposing transparency rules on large social media companies detailing how they address a range of objectionable content. The law requires covered platforms to have detailed public content moderation policies and report twice a year on the numbers of objectionable posts and how they were addressed. Categories of content listed in the legislation include hate speech, racism, extremism, radicalization, disinformation, misinformation, harassment, and foreign political interference. In its legal complaint, X argues that the law’s "true intent" is to pressure platforms to more aggressively act against content that the government finds objectionable, violating the First Amendment, Dormant Commerce Clause, and federal preemption under Sec. 230 of the CDA, and is asking for a preliminary and permanent injunction.
Context – California enacted its social media transparency law following social media regulation being passed in Florida, Texas, and New York. Each state is effectively controlled by one political party. Republican-led Florida and Texas acted first, enacting laws in 2021 to combat alleged Big Tech “viewpoint” discrimination, a top conservative concern. Democrat-led New York and California followed with laws pushing platforms to better police hate speech and harassment. Trade groups representing the largest digital platforms challenged the laws in Florida and Texas. Florida’s law was blocked in the US Eleventh Circuit while Texas’s law was upheld in the US Fifth Circuit, although it was later enjoined by the US Supreme Court. Backers of aggressive content moderation have criticized X (formerly Twitter) since progressive critic Elon Musk took over the platform, so X’s willingness to take on the California law seems true to form. Many expect the High Court to take up the issue next year, encouraged by the Biden Administration Solicitor General to step in to preserve platform First Amendment rights.
UK Parliament Finally Passes the Online Safety Bill
Report from the BBC
In Brief – The Online Safety Bill (OSB), which began its long and winding journey in 2017 with a promise to make the UK “the safest place in the world to be online”, has cleared its final parliamentary hurdle and will become law. Over the years, the plans were expanded from the starting point of combatting child sexual material and terrorism advocacy to cover more and more types of bad content, culminating with platforms mandated to combat “legal but objectionable” material. Under fire for threatening free speech, the OSB was trimmed back last fall and refocused somewhat on harms to younger users. The legislation's final list of content that platforms will need processes to control, overseen by regulator Ofcom, includes child sexual abuse, controlling or coercive behavior, extreme sexual violence, people smuggling, promoting or facilitating suicide and self-harm, animal cruelty, selling illegal drugs or weapons, and terrorism. The prospect that Ofcom would require messaging apps to have the capability to scan user communications to detect prohibited content, effectively outlawing end-to-end encryption, had led leading messaging app providers including WhatsApp and Signal to threaten to leave the market. The government defused the standoff by saying that Ofcom would not consider doing so until scanning messages could be done while still protecting privacy, something they admitted was not yet technically possible.
Context – The travails of the OSB highlights the UK’s schizophrenic digital policies pairing regulatory intervention with aspirations to be a pro-innovation alternative to the EU. Along with the high-profile encryption battle, the OSB threatens jail time for corporate executives when their companies fail to appropriately police CSAM and creates an age-gating requirement that draws the ire of platforms like Wikipedia. The UK Digital Markets, Competition and Consumers bill largely parallels the EU Digital Markets Act, and the UK competition regulator has proven particularly aggressive on tech acquisitions. Finally, the OSB comes on line after the EU Digital Services Act, adding potentially conflicting compliance measures to meet similar goals.
Microsoft’s Offer to Unbundle Teams in EU Not Likely to Resolve Antitrust Case
Report from Bloomberg
In Brief – A formal antitrust complaint from the European Commission competition authority accusing Microsoft of anticompetitive practices in bundling its Teams videoconferencing and messaging service into the Microsoft Office 365 software package remains likely despite Microsoft’s efforts to placate concerns. The Commission, which has received complaints from competitors stretching back to Slack’s in 2020, opened a formal investigation in July. The digital giant is said to have offered regulators a range of concessions to resolve the investigation in talks throughout the year. Despite the lack of agreement, Microsoft announced at the end of August that it would make unilateral changes for some users of Office 365 in the EU and Switzerland on October 1, including no longer requiring business customers of Office 365 to have Microsoft Teams automatically installed on their devices and reducing the price of Office 365 when Teams was not included. However, critics contend that the Microsoft offer covers too narrow a range of EU-based customers and the proposed price differential for the Office-Teams bundle is far too small.
Context – Microsoft's regulatory good behavior campaign and a string of Activision videogame licensing deals appear to have been key to winning over the European Commission on its massive acquisition and delivering what increasingly looks like a win. But the digital giant is now needing to manage a collection of other competition policy issues in Europe and the Commission might be interested in proving its toughness. Along with the Teams investigation, there are complaints from some European cloud services providers that Microsoft uses software licensing to pull EU customers to its cloud infrastructure, and a NextCloud complaint that Microsoft unfairly bundles its OneDrive cloud system with Windows. Microsoft’s Windows PC operating system and LinkedIn have been designated gatekeeper core platforms under the Digital Markets Act regulatory scheme, and the Commission is studying adding Microsoft’s Bing, Edge, and the Microsoft Advertising Platform as well.
Platform Economy Insights aims to provide small-to-mid-sized digital platform business leaders, investors and firms that support industry growth, and public officials, staff and media who track the platform economy, with expert analysis of public policy trends impacting the digital platform industry globally.
Executive Editor Brian Bieron and Senior Advisor Tod Cohen are recognized Internet, trade and platform policy leaders who have served as top global public policy experts to some of the Internet industry's leading platform businesses. They are now providing insights, analysis and reporting to wider audiences through a public policy platform that challenges the reach of all but the largest Internet industry public affairs teams.


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Bayer welcomed farmers, academics, leading global industry experts, journalists and other stakeholders to Monheim, Germany for its 2019 Future of Farming Dialogue Oct. 1-2 to engage in a collaborative discussion on the future of agriculture.
Under the theme “Tomorrow belongs to all of us” the event gathers speakers and participants from around 40 countries for two days of robust panel discussions, talks and interviews on issues and opportunities facing the industry. Topics discussed include the need to find a balance between production of food and preservation of our planet; consumer demands to have a healthy diet with no negative impact on the environment; and the importance of crop protection tools for sustainable agriculture.
This virtual ag newsroom includes links to photos and audio content available free of charge for digital or print publication or broadcast.
Audio/InterviewsLiam Condon, President, Bayer Crop Science Division Bob Reiter, Head of Research & Development, Bayer
Panel: Trade Agreements, Disagreements and Impacts on Farmers Large and Small
Dirk Backhaus, Head of Product Supply, Crop Science division
Pam Johnson, Global Farmer Network Member, U.S. Farmer
Rodrigo C.A. Lima, Partner, Agroicone
Okisegere Ojepat, CEO, Fresh Produce Consortium of Kenya


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Earlier today, ex-OnePlus cofounder’s newly established smartphone company called NOTHING, has announced their first phone today. It is called the NOTHING phone (1). At the launch event it doesn’t reveals its design, but claims that it look different from the rest.
It will also be powered by Qualcomm SoC as they have mentioned their collaboration with Qualcomm. If it is a flagship, it will be Snapdragon 8 Gen 1.
It also displayed NOTHING OS, which retains most of the design from AOSP, removed 40% of preloaded apps and has AI ability to adapt with user behavior. It desktop launcher will also be launched in April.
More details to be coming this summer. Until then the information available for this phone is severely limited.


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People around the world are worrying about their carbon footprint. But what about their furry friends’ carbon pawprints?
Consider the numbers: there are currently around 1 billion pet cats and dogs worldwide (not to mention hundreds of millions of stray ones), and pet ownership rates are vastly higher in western countries. About 40% of US households own at least one dog, compared with about 6% of Chinese homes.
However, the gap is closing fast, as the number of pets and the demand for food and other goodies in developing countries spiral. In India, dog ownership is growing annually at double digit rates, while in Vietnam and Thailand, the number of dog owners increased by around 50% between 2004 and 2007.
The ecological consequences of pets are significant when you consider the land needed to produce the energy and resources required for a large dog are equivalent to that of a four-wheel drive Land Rover; a medium dog is equivalent to a VW Golf. Or so say Brenda and Robert Vale, authors of the provocatively titled Time to Eat the Dog. Among many reasonable observations they note that we face real problems “when everyone starts to have a big car, big house, big family and a big dog”. They also note that many pets in the west have larger ecological footprints than humans in some developing countries.
So, while the rising population of pets is significant enough, the rising affluence of pets is also important. The range of products and services hitting the market and encouraging pet owners to humanise their pets is staggering. There are dog houses with reverse-cycle air conditioning, some with flat screen TVs, and there are DVDs specifically catering to the tastes of different animals. From pet treadmills to electric blankets, a spiralling number of online stores and big box pet warehouses are selling aspirational pets an energy-intensive good life.
As pet owners decide that “what’s good for me is good for my pet”, they are creating a large, powerful and emissions-laden industry. In the United States alone, pet care is currently a $50 billion industry, having almost doubled in a decade. It is a microcosm of the same problem occurring with humans as developing countries become more affluent.
At the heart of the decadence is the trend towards “luxury” pet food, and the biggest beneficiaries are the four corporations that dominate the booming pet care industry and control 80% of its largest component – the global pet food market.
With pet faeces reportedly making up 4% of waste to landfill in some cities, clearly a great deal of pet food is being made. The food itself requires hundreds of millions of tonnes of meat and grain, as well as vast amounts of energy, most of it drawn from fossil fuels. It then has to be tinned, bagged and transported to all points of the planet.
Who are the companies encouraging us to humanise our pets with their luxury pet food? Surprising as it sounds, think chocolate, toothpaste and cleaning products: the largest pet food manufacturers are Nestlé, Mars, Procter & Gamble and Colgate. Each of these companies would like us to believe that their booming pet care businesses are climate-friendly, but it’s mostly spin behind the earnest-sounding pitches.
Let’s look at one of these companies: Mars – which makes Pedigree and Whiskas. Their stated mission is to “make a difference for people and the planet through our performance”, which indicates a strong emphasis on saving the environment.
There are well-promoted but isolated examples of the company using green power to make its pet food, such as wind turbines in Yorkshire adjacent to a Mars pet care factory. Mars says it has the “first sustainable pet food manufacturing facility in the world”. The company points to emissions cuts due to a host of energy efficiency, recycling and packaging improvements, and its website features pictures of solar panels being installed at Mars Chocolate headquarters in New Jersey.
The company says its operations generate around 15 million tonnes of greenhouse pollution, about 4% less than in 2007.
It has much grander plans for the future: a “Sustainable in a Generation (SiG) program”. The company says it is “committed to achieving zero fossil fuel energy use and zero greenhouse-gas emissions by 2040”. The distant timeline may be squint-inducing, but it sounds impressive enough – until you read the fine print.
The commitment applies only to the company’s direct emissions. Most of the Mars carbon footprint lies elsewhere: supply chain emissions make up 87%. The company admits that “sourcing our raw materials leads to greater impacts than our factories and offices” – something many companies skate over – and it plans to “develop similarly robust programs for each element of our value chain”. Until it does, however, we are left with a company nonsensically determined to cut its emissions to zero so long as the emissions tied up in producing its rice, beef, meat, dairy, corn, wheat and the rest of the supply chain are excluded.
What is crystal clear is that Mars, Nestlé and the other “Big Pet Care” corporations are expanding into developing countries at a rapid rate, and enthusiastically pushing “luxury” pet food brands intended to “humanize” pets.
None of this is to suggest that pets are an emissions-intensive extravagance that must be forsaken in the fight against climate change. They are an important and very beneficial part of our lives – on average pet owners have lower blood pressure and fewer mental health issues, spend less time in hospital and ultimately live longer. But we shouldn’t exempt pets from our efforts to tackle climate change, and companies that cater to pets shouldn’t greenwash the contribution to climate change of the products, services and pet lifestyle they promote.
The American Pet Products Association’s publication of 2011 trends in the pet care industry captures the current situation beautifully. The number-one industry trend is “Reducing Your Pet’s Carbon PAW print”:
Around the world people are making conscious efforts to help our planet Earth, and the pet industry is no exception. From natural litters to toys, accessories and organic food options, Earth-friendly pet products are sprouting up everywhere.
True enough, but what are the other pet care trends cited by the Association?
Designer shampoos and fashion; hotel accommodation; electric toothbrushes and self-flushing litterboxes; automatic doors and touch-activated toys; toy gyms, spas and massagers; self-warming pet mats; not to mention faux mink coats, hipster lumberjack vests, designer plaid jackets, matching jewelled collar and leash sets…
You can just picture advertisements for these products in the pages of the Pet Airways in-flight magazine, being enjoyed en route from Beijing, Rio or Mumbai, “making the world a better place one pet at a time”.
This is an edited extract from Greenwash: Big Brands and Carbon Scams by Guy Pearse, published by Black Inc. today.


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Transportation and Logistics, Optics, Intellectual Property Rights
The new set of challenges has arisen after the imposition of new sanctions, export controls, and other USG restrictions affecting trade with Russia.
Exporters should be aware that transportation and logistics has become far more complex in the aftermath of Russia’s invasion of Ukraine. Many maritime carriers, such as Maersk, Hapag-Lloyd, and MSC Mediterranean Shipping, have suspended operations in Russia due to operational and safety concerns, and the White House announced a ban on Russian-flagged, owned, or operated vessels entering U.S. ports on April 21, 2022. Passenger and cargo air transportation has been banned by both U.S. and Russian governments. While it is possible to move cargo to/from Russia, it is reasonable to factor in the likelihood of increased transit time and expense due to these regulatory obstacles.
Optics have become a consideration for U.S. companies that are making difficult choices about whether to maintain a physical presence or continue doing business in Russia. There are a number of public lists of international companies that have maintained business operations in Russia, and companies with operations throughout Eurasia might wish to consider the overall regional geopolitical environment as part of their decision to engage or not engage the Russian market.
New actions by the Russian government in response to Western sanctions and other measures have worsened the intellectual property environment in Russia. Of particular note, Russian Prime Minister Mishustin signed a March 6 decree (resolution No. 299) stating that foreign patent holders associated with unfriendly foreign states who commit unfriendly actions against Russian legal entities and individuals would be entitled to no compensation of the actual revenue of the person who has exercised the right to use an invention, utility model, or industrial design without the consent of the patent holder. A March 8 law (“On Introduction of Amendments to Various Laws,” No. 46-FZ) allowed the Russian Government to designate goods or groups of goods for which IP rights are exempted. The law applies to all IP, including trademarks, and runs through 2022.
Russia’s Federal Anti-Monopoly Service (FAS) also prepared regulations on parallel imports, announced by the Russian government on March 30, and followed by an Order from the Russian Ministry of Industry and Trade on May 6 identifying the foreign goods subject to parallel importation. (Order No. 68421) Among the order’s industry targets are the automotive, IT, and clothing/apparel sectors.
Political figures, including some in the Russian State Duma (legislature), in response to what it sees as actions taken by “unfriendly” nations (including the United States) such as sanctions and export controls, have proposed certain pieces of legislation that U.S. companies should be aware of when considering the Russian market. The bills, if passed, present substantial risks for current and prospective business. Some of these proposed actions include/have included:
- Legislation aiming to punish entities in Russia that comply with international sanctions with a prison term of up to 10 years, forced labor of up to five years, or a fine of up to RUB 1 million (approximately $12,945). The bill, which would amend Russia’s criminal code, does not specify whether the new rules would only apply to Russian companies or target any entity doing business inside the country.
- Another bill would give the Moscow Arbitration Court authority to appoint receivers to take control of companies that are at least 25 percent owned by persons from “unfriendly countries” who perform functions considered essential for maintaining the economic and social security of the country and its citizens. Some of the criteria include the provision of socially significant goods or services that cannot be replaced by domestic production (for example food, medicines), dominant position in a market, being a major employer or supply-chain participant, etc.
- A bill providing for suspension and termination of contracts due to Western sanctions, granting Russian businesses and individuals with (1) permanent relief from contractual obligations if their fulfillment is “absolutely impossible” due to Western sanctions; and (2) temporary relief from contractual obligations (and any associated penalties) if their fulfillment is temporarily impossible due to Western sanctions.
- Providing regional governments with authority to nationalize assets of foreign companies from “unfriendly countries” located on their territories without any compensation and according to nationalization procedures developed by regional governments.
As of early summer 2022, the pieces of legislation furthest along in the legislative process and closer to receiving final State Duma consideration were the bills permitting external administration, and allowing suspension and/or termination of contracts due to Western sanctions. Regardless of the legislative status, the Russian government has a record of exerting politically motivated pressure and coercion against businesses.
The Russian government has also taken numerous steps via governmental decrees or orders to respond to sanctions and export controls. The government has taken a host of domestic economic measures that have included export restrictions and bans (fertilizers, pharmaceuticals, agricultural and food products, certain commodities), capital controls (foreign exchange bans and limitations), and reducing regulatory burdens on businesses (postponing labeling requirements, simplifying import and customs procedures, reducing or canceling taxes and fees).
The government has drawn up a list of 49 “unfriendly countries” that includes the United States. Some Russian laws and governmental decrees apply specifically to these “unfriendly countries,” a list that also includes U.S. allies like Canada, Australia, Japan, and the European Union.
The Russian response to Western sanctions and export controls remains fluid. Companies may wish to consider a more in-depth consultation with qualified counsel on the legal landscape for Western companies working in Russia.


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On Dec. 15, 2016, Massachusetts became the eighth U.S. state to legalize the recreational use of marijuana — joining California, Colorado, Alaska, Maine, Nevada, Oregon and Washington. The cannabis industry is just beginning to flourish, which gives retailers an opportunity to pioneer a new segment of retail that is unlike any other.
What cannabis retailing does have in common with other “growth” industries is its economic potential. A 2016 report by Cowen and Company indicated that:
- The legal cannabis industry in the U.S. is projected to reach $50 billion in gross retail sales by 2026;
- The formal market has already reached $6 billion; and
- Total cannabis spending in the U.S. has generated more than $30 billion.
To put it in perspective, consider the U.S. wine industry, which reported sales totaling $38 billion in 2015.
As this new industry gains momentum, retailers considering opening marijuana stores have a number of factors to consider, including:
- Companies that already are investing in the space;
- The patchwork of laws and regulations to navigate;
- Staff hiring challenges;
- The need to be agile in securing funding; and
- Creating a safe retail environment for customers.
“[The cannabis retail industry] is really a white sheet of paper that allows [retailers] to design it themselves,” said Ray Hartjen, Director of Content Marketing and Public Relations at RetailNext in an interview with Retail TouchPoints. “It’s not the reinvention of a marketplace; it’s brand new. So it’s up to the industry to do it right and shake off the stigma associated with cannabis and legalized marijuana.”
Cannabis Gets Investment From Major Gardening Supplier
Gardening products company Scotts Miracle-Gro already has taken strides to remove the “bad business smell” associated with cannabis. The company created a subsidiary called Hawthorne Gardening Co., which is being led by General Manager Chris Hagedorn, the son of Scotts’ CEO Jim Hagedorn.
In 2016, the company invested $500 million in the marijuana hydroponics space. Hydroponics is the process of growing plants and vegetables without soil. Scotts’ investments include:
- $4.5 million for a 30% stake in AeroGrow, a manufacturer and distributor of indoor gardening systems;
- A $130 million buyout of General Hydroponics, a California-based maker of nutrients and hydroponics systems;
- $136 million for Gavita, a Dutch lighting and hardware company; and
- An agreement to purchase Botanicare, an Arizona-based manufacturer of plant nutrients and growing systems for hydroponic gardening.
These investments seem to have already paid off. Scotts’ hydroponics business generates approximately $25 million in revenue per year, according to The Cannabist. The company currently offers a variety of cannabis-related brands such as Black Magic potting soil and hydroponics supplies. While most of Scotts’ goods are sold through specialty cannabis stores, the Black Magic brand is available in 165 Home Depot stores as well.
“I think it’s a matter of time before you see more states legalize it,” Hagedorn told The Cannabist. “And (Scotts wants) to be able to supply that industry with growing media.”
Laws And Regulations Vary By City And State
One of the major challenges faced by cannabis sellers and distributors is the number of laws and regulations to consider, which vary significantly by location. Each state has different laws, regulations and taxes to keep in mind, and in some states laws vary from city to city.
“Not only do you need a state license for all aspects of the business — whether you want to grow, process, transport or sell cannabis — you’re also going to need to follow different city regulations as well for business licenses,” said RetailNext’s Hartjen. “Other regulations, such as how close you can be to a school (in California, it’s approximately 600 feet), also need to be considered. There are a lot of regulatory hoops to go through just to get licensed in the state and a particular city within the state. Some cities might not want a recreational cannabis retail operator in their city.”
For example, in Massachusetts, adults aged 21 and over are permitted to possess up to one ounce of marijuana outside their home and up to 10 ounces inside their home. Adults also are permitted to grow up to a dozen marijuana plants per household. Marijuana will only be sold legally by licensed retailers in the state, but no licenses will be granted until January 2018, Hartjen said.
According to ABC News, the Massachusetts law requires a three-member Cannabis Control Commission that is overseen by the state treasurer, who will be responsible for reviewing retail applications and eventually licensing cannabis shops. Even though it’s legal to possess, marijuana cannot be sold in any fashion (except to registered medical marijuana patients).
The Cannabis Industry: A Blank Canvas For Retailers
Before jumping into the cannabis business, retailers should consider a number of factors. First and foremost, cannabis should be sold through brick-and-mortar stores, according to Hartjen. So when opening a retail location, it’s really about putting the same tactics into play as you would for any other industry segment.
“You can start from scratch and make your first impression the way you want to make it without having to rebuild a brand,” said Hartjen.
Given the stigma around marijuana, Hartjen said it’s crucial to create a safe and welcoming environment for customers. This hasn’t always been the case for illegal marijuana transactions, so it’s up to the retailer to make store environments feel both secure and enjoyable.
But forget about the stereotypical “stoner” storefronts that smell like pipes and have pot leafs plastered all over the walls. The new era of cannabis-related shopping features boutique-style stores with hardwood floors and well-lit cases displaying products and accessories — similar to what a boutique cosmetics store like Bluemercury would offer.
“It needs to be a nice, boutique brick-and-mortar experience that’s attractive to people who have money,” according to Hartjen.
Another important component of the brick-and-mortar store — like all others — is the quality of the staff. In the cannabis industry, employees are called “bud-tenders,” explained Hartjen, and are expected to be experts on the product. But since recreational marijuana is so new to the U.S., there is no “bud-tender certification program.”
Experts recommend hiring people who are knowledgeable about the product and its effects, as well as those who can make good recommendations based on the effect the customer wants to experience. But it’s up to the vendors to educate the sales associates, according to Derek McCarty, VP of Marketing at hmbldt, a California-based manufacturer of therapeutic cannabis vaporizer pens.
“When it comes to actual product education, that’s where [the vendor’s] role is,” said McCarty in an interview with Retail TouchPoints. “Our sales and brand team are going out and training each and every dispensary worker.”
Aside from educating themselves on products, bud-tenders should also be able to engage with adult consumers of all ages. The cannabis industry caters to a wide demographic of both men and women, with significant interest coming from women over the age of 35.
“We see the demographic definitely trending older as more and more people realize the medicinal benefits,” said Jamie Feaster, VP of Marketing at Eaze, a California-based medical marijuana delivery service, in an interview with Retail TouchPoints. “While cannabis has historically primarily been consumed by men 18 to 35, we’re seeing high growth rates within women and the 35+ sector — something we’ve been able to identify in our user base, which guides us to build for the future demographic.”
Eaze Raises $25 Million Through Strategic Fundraising
As the cannabis industry grows and more states legalize marijuana, many business owners will be looking to expand their businesses with help from VC funding rounds. Considering the product’s reputation, it may seem difficult to raise billions of dollars for weed, but companies such as Eaze have already found success raising capital.
Since its launch in July 2014, Eaze has raised a total of $25 million. Most recently — in October 2016 — the company received $13 million in Series B funding from Fresh VC, DCM Ventures and Tusk Ventures. “From day one, we’ve considered the ability to raise capital as a competitive differentiator within the regulated cannabis industry,” said Eaze’s Feaster.
Still, the funding didn’t come easily.
“It’s important to be agile in terms of strategy, but stay true to your end customer,” he said. “We faced a huge regulatory and stigmatized battle through all different stages of funding, but were able to overcome by adjusting our strategy without wavering from our mission to provide patients with safe and professional access.”
Being strategic in your fundraising is crucial, Feaster said. Businesses should look for VCs that have similar experiences with their portfolio of companies. He also said it’s important to nurture relationships with existing investors. “Making sure you’re reaching or exceeding their expectations means they’ll continue to invest in your vision and company.”
It’s time to put the stoner stigmas behind us and realize that the cannabis industry has a lot to offer in retail. While there may be a lot of hurdles to face when getting into marijuana retail, the highs are sure to outweigh the lows.


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Leading pizza chain tests beacons
A leading pizza chain is testing beacon technology – in stores in China.
Yum Brands subsidiary Pizza Hut is using devices from global beacon technology provider Sensoro at all 1,471 locations in mainland China through Sept. 23.
Customers can receive coupons, WeChat movie tickets, and other special offers discounts by interacting with beacon technology on their mobile phones. As part of the test, customers just need to turn on Bluetooth on their mobile devices and open up the "Shake" feature on WeChat to get a chance to receive discounts or gifts such as free movie tickets or prizes.
Customers can also view the menu by interacting with the Beacon content. While currently Pizza Hut has only announced a test of Sensoro beacon technology in Chinese stores, the technology could well find its way to U.S. locations in the future. Retailers and consumers in China are generally ahead of their U.S. counterparts when it comes to using beacons, making China a good location for initial testing.
“The comprehensive use of beacon technology to create smart restaurants is intended to improve the customer experience and improve customer service, while also upgrading brand image to attract more customers,” Pizza Hut stated.
This is some great news, Dan. Thanks for sharing. It's great to see that beacons which were initially considered as a retailer-focused opportunity are now being leveraged by businesses across various verticals, especially restaurants. Another important thing to note is that, though beacons are popularly known for proximity marketing, there is more to them. For example, restaurants can use beacons to reduce wait time by offering an order-ahead feature. We’ve compiled a checklist on 3 other ways restaurants can use beacons to offer meaningful interactions with their customers here: http://blog.beaconstac.com/how-beacons-can-help-enhance-restaurant-dining-experience/


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Natural food stores enjoy longevity, offer alternative options in Greater New Haven
Natural food stores enjoy longevity, offer alternative options
Welcome to “the land of milk and honey,” Cheshire native Alan Toth told a new neighbor, offering gifts of raw milk and organic honey procured that day at FoodWorks in Cheshire.
Toth next shared a more valuable gift, the store’s address, he said.
While natural food markets support the vitality and longevity of their customer base through healthy foods, vitamins and supplements sold, that vital customer base, in turn, has contributed to the longevity of several area markets now celebrating milestone anniversaries.
The markets include: Thyme & Season, in Hamden, marking 20 years; FoodWorks, in Guilford, celebrating 25 years; and Edge of the Woods, New Haven, with 40 years of service. New Morning market, located in Woodbury, turns 45 this year.
FoodWorks expanded into Old Saybrook 15 years ago and in 2013 opened the shop in Cheshire.
The region’s natural food markets offer organic, local and traditional produce, grocery, frozen, and bulk items, vitamins and supplements, natural health and beauty-care products, pet food, kitchen gadgets, glassware, books, gifts, and more.
A big part of the work and mission of FoodWorks is, “all about educating people,” said Ralph Johnson, founder-owner of FoodWorks. “It’s about how to stay open to alternatives, and to consider other routes to wellness.”
Johnson recalled a time 30 years ago when mainstream medicine “all pooh-poohed” new therapies, including acupuncture.
Today, with increasing public education and practice, acupuncture is a widely accepted alternative therapy used to treat pain and a variety of health conditions.
Education and wellness is a vital part of the 20-year celebration at Thyme & Season. The store offers ongoing free lectures that draw alternative and natural practitioners.
The events bring together local health and wellness professionals with those interested in learning about alternative therapies and products, with other recent lectures, including “Minerals: what we are made of,” with a local naturopathic doctor, a talk on “Assertiveness as Self-Care,” “Food Allergy, Sensitivity and Intolerance,” and “Better Belly,” focusing on elements of a healthy gut micro-biome.
Competition from big box stores continues to challenge smaller shop owners, said Johnson, who added many mainstream distributors have joined the organic marketplace based on strong consumer demand.
But buying foods and goods locally offers locals considerably more value when considering the multiplier effect that shows, on average, that nearly 50 percent of money spent at local independent businesses gets recirculated locally, compared to less than 14 percent of purchases at chain stores or online, according to American Independent Business Alliance.
“People want to interact with others and know what’s in the foods and products,” said Johnson, who hires local residents at his stores and supports other local businesses. “If you buy online, that money doesn’t come back.”
Local natural markets make an excellent community hub, drawing like-minded individuals who support each other, Toth said.
Dodge started the shop on a shoestring budget of $5,000, an amount that couldn’t pay for a single freezer today, he said.
Instead, deep pockets are advised for anyone seeking to get a market going today, Dodge said. But with the right location, a natural market owner can succeed today, he added.
Looking ahead, the future seems bright at Edge of the Woods as the store plans to add another 1,000 square feet this summer, expanding the store to a total 12,000 square feet.
After 45 years in Woodbury, New Morning Market celebrated its latest milestone with in-store events, product demonstrations, food samplings, and, for the second year, the Handmade Market, a one-day event at the store that offers high quality, handcrafted goods by area artisans.
A longtime customer of Pittari’s, Toth recalled many “long, dark drives” made to Woodbury 30 years ago when New Morning was a small red shop, he said. Back then, few other choices existed to find organic foods, vitamins and supplements locally.
When natural markets began to open closer and closer to his native Cheshire, Toth’s prayers were answered, he said.
Though he does visit other natural markets, hugs are not guaranteed, he said.
“But (FoodWorks staff) took care of that in quick time,” Toth added.


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Booking.com has revealed trends shaping sustainable travel in 2022.
Key findings suggest that:
- 81% of global travelers confirm that sustainable travel is important to them, with 50% saying that recent news about climate change has influenced them to make more sustainable travel choices.
- 57% of travelers would feel better staying in a particular accommodation if they knew it had a sustainable certification.
- More than 100,000 properties globally are now being recognized for their sustainability efforts with a Travel Sustainable badge on Booking.com.


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Nike is doing very well in China. It’s appealing more to women. Its direct-to-consumer strategy continues to pay off. It’s even able to recover quickly from its mistakes. Bottom line: Nike had a 10% increase in revenue on a currency neutral basis for the Q1 2020 quarter ending in August with earnings per share up 28% from the previous year, it reported yesterday.
“Nike’s Greater China revenue climbed 22% to $1.68 billion. The company, which doesn’t own factories, produces about 25% of its global apparel and footwear in China,” Kimberly Chin and Khadeeja Safdar write for The Wall Street Journal.
“Nike is a brand of China for China and the results continue to prove it out,” CEO Mark Parker said on a call with analysts transcribed by Seeking Alpha, pointing out that the company has experienced double-digit-percentage growth in the region every quarter for more than five years.
“Its shares rose more than 5.5% in after-hours trading on the news, topping its previous all-time high of $90,” CNBC’s Lauren Thomas writes.
“We were all inspired by the incredible athletes and performances at the Women’s World Cup. It was also a tremendous stage for NIKE innovation,” Parker said on the call, Martin Baccardax reports for The Street.
“‘During the all-Nike final, we also debuted our top football boot innovation, the Mercurial 2019,’ he added. ‘In addition, apparel revenue from the 2019 Women's World Cup was four times bigger than it was for the 2015 event. Across the wider business, we stayed intensely focused on the apparel classifications that matter the most to the female athlete; bras and tights.”
In fact, “Nike outfitted 14 of the tournament’s 24 teams -- including three of the four semifinalists and the champion U.S. side. The U.S. women set records for soccer-jersey sales on Nike.com," Eben Novy-Williams points out for Bloomberg.
“In December, Parker said 2019 would be a ‘true tipping point’ for women in sports. The company has continued to push that in its marketing, including ‘Dream Crazier’ ads narrated by tennis champion Serena Williams and a ‘Dream With Us’ campaign around the U.S. women’s soccer team,” he continues.
The strong results are “a sign that the ‘Consumer Direct Offense’ strategy Nike announced in June 2017 is generating returns for the company. Nike has traditionally sold most of its products through brick-and-mortar retailers, but this new strategy prioritized speeding up innovation, producing and getting products to consumers faster and selling to and engaging with consumers more directly through digital channels,” Clare Duffy writes for CNN Business.
“Nike’s digital business grew 42% in the quarter, led by mobile and app experiences," Duffy reports. “Nike has been investing in growing the membership of its SNKRS and Nike+ apps, and integrating those apps into customers’ in-store experiences,” she adds.
“Part of its strategy … has been to sell more in its own stores and website versus in discounted outlets. But it still keeps key relationships with retailers like Foot Locker, Nordstrom and Dick’s Sporting Goods,” CNBC’s Thomas remarks, adding that August is also typically Nike's strongest quarter, thanks to back-to-school shopping.
“The strong results show no ill effect from Nike’s decision to pull a limited-edition shoe that featured a controversial version of the American flag or any backlash from allegations by lawyer Michael Avenatti that the company is facilitating bribery and corruption within college basketball,” Novy-Williams adds.
Regarding that last point, Avenatti yesterday “withdrew his request to subpoena Nike Inc. in connection with the federal criminal case accusing the embattled lawyer of extortion, after the company said prosecutors already possessed all the documents he sought,” Reuters’ Jonathan Stempel reports.
“The withdrawal came fewer than 24 hours after prosecutors called the subpoena a ‘fishing expedition’ unrelated to the extortion case, which the U.S. Department of Justice announced in March. Avenatti has pleaded not guilty,” Stempel adds.
“Our targeted strategic investments are accelerating Nike’s digital transformation and extending our competitive advantage. Even amid the increasingly volatile macroeconomic and geopolitical environment, we expect our unrelenting focus on better serving the consumer to continue fueling strong, broad-based growth across our global portfolio,” Nike CFO Andy Campion states in the earnings news release.
More simply, as Yogi Berra said, it’s not “making too many wrong mistakes.”


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Bitcoin News — american express
Posted by Kai Sedgwick on
Today’s installment of The Daily is all about dirty tricks. The sort of tricks designed to convince the world that Bitcoin is bad. Spending bitcoin, mining it, or allowing the Chinese to mine it ahead of the U.S. — all bad, according to American Express, the White House (allegedly) and a handful of other haters. […]
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- Tags: american express, Bitcoin Maximalism, Bitcoin mining, FUD, maximalism, N-Featured, Ripple, The Daily, war on bitcoin, White house, XRP
Posted by Lubomir Tassev on
Covered in The Daily on Friday are several announcements crypto users may find interesting. Ledger has added support for 8 new coins and crypto exchange Okex is launching a white label platform. Also, Exmo will offer its European users faster payments and transfers in partnership with Mistertango, and Estonian startup Citowise has integrated credit card […]
The post The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with Mistertango appeared first on Bitcoin News.
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- Tags: american express, Apps, BCH, Bitcoin, bitcoin cash, Bitcoin Core, BTC, Citowise, Coinall, Coins, credit cards, crypto, Cryptocurrencies, Cryptocurrency, cryptos, Estonia, ETH, Ethereum, EUR, Exchange, Exmo, Ledger, Ledger Nano S, Lithuania, MasterCard, Mistertango, N-Featured, Okex, Payments, platform, SEPA, startup, support, The Daily, VISA, White Label
Posted by C. Edward Kelso on
The controversial political activist and independent journalist Tommy Robinson was sent £20,000 ($26K USD) worth of bitcoin, according to local reports, by supporters to help cover legal costs. Mr. Robinson was arrested two months ago for allegedly violating a contempt of court order. He was sent to a local jail, and recently the court found fault […]
The post $26K Worth of Bitcoin Sent to Controversial Activist Tommy Robinson appeared first on Bitcoin News.
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- Tags: american express, Bitcoin, Catalonia, Cryptocurrency, dissent, England, MasterCard, Muslims, N-Featured, News, Paypal, Politics, Tommy Robinson, VISA, Wikileaks
Posted by Christine Kim on
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- Tags: American Express, Blockchain Patents, Business News, Credit Cards, News, Original, payment solutions, Payments, Use Cases & Verticals, USPTO
Posted by Marie Huillet on
The travel arm of financial services giant American Express has filed a patent for a blockchain-based proof-of-payment system.
Financial services giant American Express (Amex) has filed a patent for a blockchain-based proof-of-payment system, according to filing published by the U.S. Patent and Trademark Office (USPTO) Thursday, July 12.
The patent’s applicant is listed as American Express Travel Related Services Co., Inc., Amex’s travel arm. The proposed system would automate proof-of-payments by encrypting payment payload data with a public key on an initial node of the blockchain –– the data in question comprising the merchant’s identifying information and the transaction amount.
According to the patent filing, the encrypted data could then securely be propagated to a second blockchain node. In one proposed embodiment of the system, the data could then be fetched by a connected smart device that would decrypt the payment payload data and match it with a second identifier, the customer.
In this way, the blockchain-secured system could enable smart devices to detect proof-of-payments and initiate actions to service paying customers:
“A payment processing entity (e.g., a credit card network, bank, debit, bitcoin, rewards points, or ACH) provides evidence of a payment in a tamper-proof manner by writing the proof of payment to a blockchain. A smart device connected to the blockchain may detect the proof of payment, and can extract relevant information. The information may be encrypted on the blockchain such that access is restricted to entities having the correct cryptographic keys. “
The patent then outlines various use cases for such a secured system, suggesting hotel reservations, real estate rental, and ticketless access to events and venues. All of the proposed use cases would potentially facilitated by customers’ uniquely identified smart devices that could retrieve and decrypt proof-of-payments stored on the blockchain.
Amex has already indicated its interest in blockchain technology by becoming a member of the Hyperledger Blockchain consortium, a collaborative effort to define and develop standard blockchain technology for use across industries.
In May, Cointelegraph reported on Amex’s announcement that it would be integrating Hyperledger into its Membership Rewards program. The initiative, in partnership with online merchant Boxed, would enable merchants to design customized offers for Amex cardholders in order to incentivize customer engagement.
Back in October 2017, American Express Travel Related Services Co., Inc., filed an earlier patent for a personalized rewards system that would also harness blockchain technology to incentivize its customers.


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Simon Hu, chief executive of China’s Ant Group, has resigned from his role, according to multiple media reports on March 12, as the financial technology giant is being pushed by regulators to overhaul its business after its failed $37 billion initial public offering in Hong Kong.
Hu, who became chief executive only in 2019, cited personal reasons. The company did not elaborate.
He will be replaced by company veteran and executive chairman Eric Jing, the company said.
Nasdaq-listed shares in listed affiliate Alibaba were down 3.75% at the close on Friday. Hong Kong stocks dipped just 0.7%.
Jing will also continue in his current role as chairman, he said in an internal memo seen by Reuters.
According to Chinese media, Jing said the board received and accepted Hu’s request to resign and devote his efforts to philanthropic work at Ant and its largest shareholder Alibaba Group Holding.
Chinese regulators have tightened their grip on fintech companies, amid concerns over systemic financial risks brought by the lending empire affiliated to China’s e-commerce giant Alibaba Group .
“Ant’s days as a freewheeling tech firm are over,” said Julian Evans-Pritchard, chief economist at Capital Economics.
After years of presenting itself as a tech firm and benefitting from limited oversight, Ant Group has reportedly agreed to restructure as a financial holding company (FHC).
“This is the latest development in a broader crackdown on the tech giants that appears unlikely to end soon,” said Evans-Pritchard. “Alibaba’s main competitor, Tencent, will probably receive the FHC treatment at some point too.”
In response to the intense regulatory pressure, the group has been reining in some of its operations, taking steps to bring its capital requirements in line with those of banks, and revamping itself into a financial holding firm.
Ant Group flagged a set of financial self-discipline rules on March 12 amid intense scrutiny on its activities by authorities and the country’s overall tightening of financial technology regulations.
The rules, the first of their kind released publicly by the financial technology giant, comes some four months after China suspended the group’s $37 billion plan for a share listing in both Shanghai and Hong Kong.
In a statement, Ant said its consumer loan platforms should not issue loans to minors, and must prevent small business loans from flowing into stock and property markets.
Hu, an Alibaba veteran, joined Alipay, the payments business around which Ant was later built, in 2005.
A former banker, Hu founded AliFinance, one of the predecessor businesses of Ant, and held various senior roles at Alibaba including president of Alibaba Cloud, before taking up the top job at Ant.
• George Russell with AFP and Reuters
This page was upgraded on January 21, 2022 for style purposes.


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Billionaire investor Mark Cuban is funding a new company focused on selling generic pharmaceuticals at a transparent fixed-rate markup.
What Happened: The Mark Cuban Cost Plus Drug Company is launching a new pharmacy-benefit management (PBM) service that will incorporate manufacturing, pharmacy services and wholesale distribution under one corporate operation, according to a Wall Street Journal report.
The company's manufacturing facility will be based in Dallas and is slated to be open by September 2022. Also in the works is an online pharmacy will sell 100 of the most commonly prescribed generic medications.
The pharmacy is buying drugs directly from generic manufacturers including Amneal Pharmaceuticals Inc. AMRX and will charge customers a 15% markup plus a $3 dispensing fee, said Alex Oshmyansky, the CEO of Cuban’s company.
On the wholesale side, Cuban’s PBM will start bidding for clients next year for its PBM services and aims to be operational in 2023, Oshmyansky added, noting the company will share details of its operating costs to clients and will share 100% of the rebates they receive from drugmakers.
“The supply chain for distributing pharmaceuticals to patients is so cumbersome and broken,” Oshmyansky said. “We decided the only way to get our drugs to the people who need them is to build a parallel supply chain where we have control of all the intermediary players and ensure the same level of transparency at every level.”
Why It Happened: Cuban launched his drug company in January after being a longtime vocal critic of the high cost of health care, with an initial focus on the manufacture of albendazole, an antiparasitic drug. Oshmyansky was tapped by Cuban to run the PBM after he wrote an unsolicited pitch letter to the “Shark Tank” star three years ago.
“Our goal is that everyone should be able to afford their medicine,” said Cuban company’s website. “Everyone should know what it cost to make their medicine. Everyone should feel the price they paid for their medicine was fair.”
Photo: Gage Skidmore/Flickr Creative Commons.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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When I tell folks the first Ukrop’s grocery store was on Hull Street, they look at me like I am crazy.
But it’s true. Located at 3111 Hull Street, the first Ukrop’s was opened in 1937 and was the beginning of what became a Richmond success story. According to the Chesterfield Observer’s article Before the grocery wars, there was a dominant force – Ukrop’s:
“It all began with Joseph and Jacquelin [Ukrop] on Hull Street. The year was 1937, and according to family lore, it was Joseph’s desire to open a grocery store in Manchester called ‘Joe’s.’ But a store by that name already existed nearby, so Joseph decided to use his surname instead. He dubbed the store Ukrop’s.
That May, the Ukrops opened their first store at 3111 Hull St. Located a mile from the Chesterfield line, many of its customers were factory workers who lived in the county. In July of that year, the Ukrops’ first son, Jim, was born.
‘[I’m] not sure which they thought was the best thing to happen to them that year, but I’m glad they did open the store,” says Jim with a laugh. “I think I started working for the company when I came out of the cradle.'”
Today the old Ukrop’s store doesn’t have the same sparkle it once had, but the old bones remain. For more information, check out the History of Ukrop’s article at the Richmond Times Dispatch.