text:
The $10M question: What’s the outlook for ultra-luxury homes?
Sotheby’s International Realty looked at the pace of wealth gains that drove purchases of ultra-high-end homes that start at $10 million.
- The 2023 Luxury Outlook report explores trends among luxury buyers across the globe.
- The report found that a record increase in personal wealth globally in 2021 helped to drive purchases of the most expensive properties.
- With wealth expected to grow by 36% over the next few years, the ultra-luxe market may continue to attract new buyers.
Be it ever so opulent, there's no place like an ultra-luxury home.
Sotheby's International Realty has released its 2023 luxury outlook report, which examined what the company called an "explosion" of personal wealth worldwide that poured into the very tip-top of the luxury housing market.
Called ultra-luxury residences, properties in this exclusive zone emphasize size, quality, design and amenities with "wow" factor, according to Sotheby's and other real estate companies that focus on high-end homes. Ultra-luxury homes generally run in the $10 million-plus range but may exceed $100 million.
"In almost all cases, the value of ultra-luxury properties appreciates" even in a cooler market, wrote Cody and Zach Vichinsky, co-founders of Bespoke Real Estate. The New York-based firm deals exclusively in the ultra-luxe market. "Economic uncertainty spells opportunity for the acquisition of real assets. This is most true in ultra-luxury markets," the Vichinskys said.
"Buyers are still engaged and asking brokers to tell them when something interesting comes on the market so they can act quickly, if needed. However, they are likely to be more discretionary," said Philip White, president and CEO of Sotheby's International Realty.
Homes in this price tier are more aptly called estates or compounds and may boast more than a dozen bedrooms, restaurant-caliber kitchens and ample green space. Extras may include private elevators, gold-leaf interiors, multiple swimming pools (from salt water to "cold-plunge"), wine cellars, advanced security systems, personal golf courses and putting greens, and garages that fit not just one or two Bugattis or Lamborghinis but an entire fleet of high-end vehicles.
And how are buyers able to purchase these luxe properties? Perhaps because personal wealth worldwide grew by 13% to a staggering $460 trillion from January-December 2021, according to the report.
The pace of "exceptional wealth gains" in 2021 was the fastest annual growth rate on record according to figures from Credit Suisse, which projects that personal wealth will increase by 36% to $169 trillion by 2026, according to Sotheby's International Realty — even after accounting for a likely dip in wealth during 2022.
That is great news for the ultra-luxury market in the U.S. and globally. "Unsurprisingly, this explosion in personal wealth has translated to an influx of luxury buyers — and an increase in price points — in high-end property markets across the globe," the report noted.
The brokerage highlighted ultra-luxury waterfront homes under development in Puerto Rico as an example. The homes offer a new level of opulence, and a price tag to match. "It's not really an emerging market, but it is in many ways, too, and people were kind of surprised by what happened," said Oriana Juvelier, vice president of Puerto Rico Sotheby's International Realty.
New sales records were set in 2021 for luxury homes in Puerto Rico. "Before I sold a $30 million home in 2021, our highest sales price in the last two years was $6 million and before that it was $2 million," Juvelier said.
Affluent Americans increasingly are looking abroad when shopping for luxury homes, according to the National Association of Realtors. Properties in Central America, Mexico and parts of Asia have the most appeal, according to an article published in January in Realtor Magazine. Canada had been a popular destination until the country this year imposed a purchasing ban on foreign buyers.
Buyers from outside the U.S. are also taking a closer look at property investments in the States, especially in warm-weather areas including Florida, California and Texas.
The 2023 report surveyed Sotheby's International Realty agents globally who represent buyers and sellers of homes valued at $10 million and more. It included supporting information from Morgan Stanley, Credit Suisse, Wells Fargo Wealth & Investment Management, and the National Association of Realtors.
The report concluded that America's highest net worth individuals feel confident investing in ultra-luxury properties because the assets often are one-of-a-kind — the creme de la creme of high-end properties — and likely to grow in value over time.


text:
The International Monetary Fund (IMF) stated that incorporating financial systems within the Association of Southeast Asian Nations (ASEAN) could potentially increase economic growth in the Philippines by 3.5 percentage points.
According to a working paper released in September 2023 by economists from the IMF Asia and Pacific Department, increasing trade and financial integration among ASEAN-5 countries could potentially strengthen the region’s ability to withstand global challenges.
“According to the report, Indonesia and the Philippines, which have the least developed financial systems, would see a greater average growth impact of approximately 3.5 percentage points from financial integration.”
The ASEAN-5 region consists of the Philippines, Indonesia, Malaysia, Singapore, and Thailand. Financial integration refers to the process of blending or combining financial systems.fi
The financial markets of regional or global economies are highly interconnected.
Based on the IMF’s assessment, there has been minimal advancement in the region.fi
Financial integration is hindered by regulations and institutional limitations.
The International Monetary Fund stated that the use of digital technology can facilitate the process of regional integration by providing assistance.fi
Small and medium enterprises, including rms, participate in global value chains.
According to the IMF, digitalization can assist countries in improving their value chain by producing more advanced goods.
Nevertheless, the Philippines has the potential to enhance its digital competitiveness in comparison to other countries in the ASEAN region.
According to the IMF, Indonesia and the Philippines have opportunities for enhancement in multiple areas such as IT integration, education and training, skilled workforce, and regulatory framework.
The international financial institution also acknowledged the current efforts to facilitate cross-border payments in the area, where countries are connecting their domestic instant payment systems with those of neighboring nations.
financial integration in the region through an enhanced financial fl
The IMF stated that there has been increased flow of goods and services across borders and enhanced connectivity within regions.
This includes the tripartite cross-border payment agreement between the Philippines, Malaysia, and Singapore through BancNet, Inc., which have been under discussion for implementation.
In June of 2022, President Fabian S. Dee of BancNet stated that the company is currently investigating methods for enabling cross-border transactions. They are also working together with the Bangko Sentral ng Pilipinas (BSP), the Philippine Payments Management, Inc., and InstaPay Automated Clearing House.
The International Monetary Fund cautioned that ASEAN economies must exercise caution to avoid compromising their financial stability.financial stability, as fi
There are potential risks and obstacles associated with financial integration.
“Efforts toward more firm
Financial openness requires solid macroeconomic foundations and stability.ff
Efforts to enhance the resilience of local communities.fi
The statement emphasized the importance of strengthening financial systems by improving information sharing, surveillance, crisis management, and implementing a regional safety net.
fits and minimize risks
The International Monetary Fund suggested taking a gradual approach to encourage greater regional integration in order to maximize advantages and minimize potential risks.fi
We aim to reduce risks while optimizing efficiency.
“Striving for increased integration with the ASEAN-5 region could establish a level of strength for nations within the area, providing valuable support in a volatile global economy undergoing a policy-driven shift away from globalization.”fl
The IMF stated that the global economy is at risk due to increased fragmentation in geopolitical and economic factors.
In November of the previous year, the BSP entered into a partnership agreement with other central banks in ASEAN to enhance cooperation in regards to payment connectivity.
A Memorandum of Understanding (MoU) was signed among the Bank of Indonesia, Bank Negara Malaysia, Monetary Authority of Singapore, Bank of Thailand, and the State Bank of Vietnam to enhance cooperation in regional payment connectivity.
The collaboration involves various methods, such as QR codes and rapid payment, for conducting international transactions.
In order to enhance the benefits of incorporating finances, the IMF suggested promoting open trade in the area, enhancing regulatory and institutional standards, and lessening limitations on capital.flows.
At the same time, the International Monetary Fund stated that there is potential for enhancing regional trade integration within the Association of Southeast Asian Nations (ASEAN).
The Non-Tariff measures should be aligned with the goal of reducing barriers.fffi
The statement called for increased caution and stricter enforcement of simplifying and unifying trade-related rules and regulations.
According to the statement, enhancing international trade agreements, removing obstacles other than tariffs, reinforcing global supply networks, and promoting digitalization for easier cross-border online commerce are some strategies to enhance regional trade integration.
The authors of the IMF working paper are Nuri Baek, Kaustubh Chahande, Kodjovi M. Eklou, Tidiane Kinda, Vatsal Nahata, Umang Rawat, and Ara Stepanyan. – Keisha B. Ta-asan

domain: news


text:
Thai conglomerate Charoen Pokphand and Norway’s Telenor will merge their telecommunications units in the Southeast Asian country in a deal that will create the kingdom’s dominant supplier worth more than $ 8.6 billion.
CP, Thailand’s largest conglomerate, has a meaningful presence in agriculture, food and retail – where it had a competitive edge for its $ 10.6 billion takeover of Tesco stores in Thailand and Malaysia last year.
The proposed link between Telenor’s Dtac unit and CP’s True Corporation comes as telecommunications groups across Southeast Asia join forces to run 5G infrastructure and cover the high cost of investing in new technologies such as artificial intelligence and cloud services.
“Profit margins used to be higher than that, and expanding 5G and bandwidth will require heavy investment,” said Pisut Ngamvijitvong, an equity analyst at Kasikorn Securities in Bangkok.
The agreement is the latest in regional telecommunications after Telenor and Malaysia’s Axiata in June merged their mobile operations in the Southeast Asian country in a $ 15 billion deal. In Indonesia, Ooredoo and CK Hutchison in September agreed a merger of $ 6 billion.
CP and Telenor said if the transaction continues, a voluntary tender offer will be made for all outstanding shares of Dtac and True at a premium of 25 percent on their respective share prices.
CP said the two companies plan to create a new business that will be “a technology company rather than just a telecommunications company”. True and Dtac businesses will be part of this new entity.
“We hope this initiative can be a major force in helping Thailand become a technological hub in the region,” the company said.
Jorgen Rostrup, head of Telenor Asia, said the new company aims to raise venture capital funding with partners worth $ 100 million- $ 200 million to invest in digital start-ups focusing on new products and services for Thai consumers.
True and Dtac between them will have more than 51 million post- and prepaid users or more than half of the total market in Thailand, a country of 70 million people where competitor AIS counts more than 43 million users.
Analysts said the proposed merger is likely to prompt a regulatory review by the Office of the National Broadcasting and Telecommunications Commission.
“Because it is such a significant merger, there is going to be a huge impact on competition and consumers,” said Sarinee Achavanuntakul, an economist and researcher on corporate governance and sustainability. “The NBTC must be active and say they will invoke their regulatory powers.”
Follow John Reed on Twitter: @JohnReedwrites
Your crucial guide to the billions that are made and lost in the world of Asia Tech. A composite menu of exclusive news, sharp analysis, smart data and the latest technology buzz from the FT and Nikkei


text:
Vuzix Corp., a manufacturer of video eyewear and other personal display devices, has released a report of their earnings for the second quarter of this year. The company is well known for its use of augmented reality technology that is most often used in the security sector. Despite growth in sales to several defense organizations throughout the world, the company has posted losses for the second quarter. While loss rarely bodes well for any company, executives note that their losses are becoming smaller as time goes on.
The company posted losses reaching just above $900,000 for the second quarter. This is down from last year’s $1.4 million in losses, showing that the company has, indeed, been making headway in shoring up the seams of their business. The company’s sales have grown well since last year, by a margin of 21%, reaching $2.3 million for the second quarter. Vuzix officials credit the boost in sales to the number of defense products they have been selling this year.
Technology Quotes That Invite Thought -
Augmented reality technology is quite alluring to the world of defense. More security and military organizations have been adopting AR technology to give them a boost over the challenges they face. The technology has proven to be valuable in a number of practical uses, but interest in more advanced uses are beginning to drive demand. While the technology may not be liable for the creation of a fabled “super soldier,” it has allowed the U.S. military to conduct several sensitive operations that would have otherwise been impossible.


text:
Rent relief eats up Vicinity's income
- Revenue ($m) 1212.6, down -5.4%
- Funds from operations (m)520.3, down-24.5%
- Net profit ($m) -1801.0, down-620.4%
- No final dividend
Grant Kelley, who leads the nation's second-largest shopping malls owner, Vicinity Centres, has called for the national rent relief scheme to be more closely tailored to the hardest-hit retailers if it is extended.
That call came as Vicinity brought to book a whopping $1.8 billion bottom-line loss for the 2020 fiscal year, driven mostly by extensive write-downs on its retail portfolio which includes well-known suburban destinations such as Chadstone in Melbourne and Bankstown in Sydney.
The write-down alone came in above $1.7 billion. A year earlier, Vicinity reported a $346.1 million profit.
Mr Kelley, a high-flying executive who returned from a successful career abroad to take over at Vicinity in 2018, praised the program, which establishes guidelines within which small and medium-sized businesses can claim rent relief, but said it should be more narrowly focused if it continues.
It should be targeted at operators hardest hit, given that some retail sectors such as electronics and alcohol had outperformed. As well, the original threshold of $50 million in turnover for SME operators could be lowered to $10 million, Mr Kelley said.
"If we look at businesses with an under $10 million turnover we get to the majority of our tenants," he told The Australian Financial Review.
The national code of conduct governing rent relief – which was driven by Prime Minister Scott Morrison through national cabinet – begins to expire from September after states adopted it for six months. The states have been considering whether to extend the relief program.
Described by Mr Kelley as "a year of two remarkably different halves", Vicinity's funds from operations – the earnings measure preferred in the industry – fell to $520.3 million from $689.3 million.
In a dramatic year, Vicinity launched a $1.4 billion capital raising to prop up a pandemic-battered balance sheet as it took in portfolio write-downs amid a sharply curtailed rent collection.
The shutdowns – which continue in Victoria – hammered Vicinity's income in the second half and took it into a bitter battle alongside other landlords, with some of the country's largest retailers, such as Solomon Lew's Premier Investments, which have opted to pay little or no rent.
The impact of lost rent was stark. Of total rent billings of $580 million for the second half, some $169 million in rent collection has been forfeited this year, either through waivers or provisions.
The proportion of waivers was close to double that allowed for in provisions.
For the second half, Vicinity collected about two-thirds of the rent owed. Showing the intensifying impact of the coronavirus-caused slowdown, Vicinity collected just 38 per cent of rent in the June quarter.
By August 10, the mall owner had collected less than half the rent owed for the June quarter and just 47 per cent for the month of July. About 6000 leases have needed short-term variations to take into account the impact of the pandemic.
Controversially, Mr Lew's Premier group – which operates brands including Just Jeans and Smiggle – has pushed for rent based on a percentage of sales at least during the slowdown, a move that could augur a longer-term effort to restructure leases on the basis of turnover.
While that initiative, along with profit upgrades from Premier and some other retailers has been slammed in some quarters, Mr Kelley and chief operating officer Peter Huddle sought to ease the tension on Wednesday.
"There's always opportunity to craft a win-win but we would not support a wholesale departure from a structure that's been good for both shopping centres and for tenants for many years," Mr Kelley said.
"Our focus is for our part of the value chain, ensuring that retains its integrity and ensuring the discussions are collaborative and win-win. Specifically with Premier, they have been extremely collaborative with us at the micro-level of our relationship."
Vicinity has not provided earnings guidance for this year, saying "it would not be reliable in the current uncertain circumstances".
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.Find out more
Latest In Commercial
Fetching latest articles


text:
Expands reach into the US market for both food companies.
Beyond Meat founder cites ample farmland in Saskatchewan and Manitoba that could support vegetable and other plant growth.
Takeover involves cheese brands Cracker Barrel, P’tit Quebec and Amooza.
Had pleaded guilty in November to tampering with consumer products.
All other approved Canadian pork processing facilities remain eligible to export.
As dispute with China continues, loan limits will be raised to $1 million, interest-free portion will be rise to $500,000.
Includes two manufacturing facilities in Tasmania, employs approximately 400 people.
Provides on-site processing for supermarkets and food processors, producers and distributors.
Will double current production capacity and produce tempeh, franks, sausages and raw foods.
Received a non-compliance notification from China over quality concerns with its product in January.
Plans for a variety of products have bee announced, but numerous hoops to jump through before they’re available to consumers.
Infused chocolate will be available to online medicinal cannabis users.
Sponsored Content provided by PLANT partners: It provides a competitive edge while ensuring your traceability plan is recall-ready. Tracking the movement of food and ingredients has always been a time-consuming task for food manufacturers, and it’s become increasingly difficult as…
Manufactures cheese, butters, spreads and oils under British brands Cathedral City, Clover, Country Life and Frylight.
Province Brands of Canada and Murphy Hospitality Group announce a co-packing agreement.


text:
LG Electronics Inc. on Thursday expressed confidence within the photo-taking options of its new flagship V30 smartphone, and stated it’s dedicated to creating the most effective digital camera modules for smartphones.
LG Innotek Co., an electronics components maker beneath LG, advised reporters touring its manufacturing facility that almost two-thirds of the manufacturing procedures of its digital camera modules have been allotted to testing efficiency. It harassed that such steps require the best consideration to element because the complexity of the cameras within the newest telephones just like the V30 has gone up in comparison with the previous.
One of the exams that the corporate has included is shaking gadgets as much as 10 instances per second to check the efficiency of the optical picture stabilization function to see if it could actually take clear pictures beneath altering circumstances and environments. LG additionally conducts numerous exams of sturdiness, which entails dropping the digital camera module or giving it an electrical shock.
The modules are additionally examined to take care of the harshest climates across the globe, enduring temperatures from minus 40 levels to 85 levels Celsius.
The South Korean tech big has been selling digital camera of the LG V30 even earlier than the official showcase occasion held in August, setting the function as the important thing selling-point of smartphone.
The system boasts a dual-lens rear digital camera with one of many lenses adopting a particularly quick aperture of F1.6. A decrease f-stop quantity means the digital camera is able to gathering extra mild, main to higher footage indoors in addition to the power to blur out the background.
That of Samsung Electronics Co.’s Galaxy Note eight, which was additionally formally launched on Thursday, comes with an aperture of F1.7.
The firm additionally adopted what it calls a Crystal Clear Lens for the primary time within the business, claiming the lens permits customers to seize extra particulars in comparison with different plastic-based lenses.
“We are confident that LG’s cameras have always been the best,” an official from LG Electronics stated, including the V30 additionally comes with higher design than predecessors because it lowered the lens bump on the again of its newest telephone by 60 % in comparison with the V20. (Yonhap)
LG Electronics focuses on making the most effective smartphone digital camera modules by: Steve Melvin published:


text:
Thanks to SoCalTech, we have news that a San Francisco Tech Law Firm will be opening offices here in LA. So for those of you who like the tech scene, but want the beach weather... there may be hope yet :)
"In a sign that the Los Angeles technology and startup world is starting to be taken more seriously by Silicon Valley, one of Silicon Valley's more prominent law firms has set up shop in Santa Monica. Cooley LLP said Tuesday that it has added four partners to a new, Los Angeles office, and also hired one of the most active and connected insiders in the region to head up business development efforts in Los Angeles."
You can read more about the article here:


text:
Marketing Briefing: Debunked ‘TikTok Shop’ report reignites conversations around the future of livestream shopping for brands
This time last week, news of TikTok reportedly peddling back plans for QVC-style live e-commerce initiatives here in the U.S. caused a lot of talk (and plenty of hot takes) throughout the marketing and advertising industry.
TikTok has denied such claims originally published by the Financial Times, stating that the ByteDance-owned platform never had any concrete plans to expand its “TikTok Shop” venture into Western territories.
Still, the supposed expansion seemed promising, and its failure to launch once again raises the question of what it will take for social live shopping to take off in the U.S. the way it has in China. For U.S.-based marketers, it points to the idea that what has worked for advertisers in Asia may not necessarily work at home. At least, not yet.
“There’s a bigger gap in the West between whether [users are on TikTok] to browse, whether they’re on Facebook to see friends and family and whether they’re actually there to buy,” said Brandon Biancalani, head of paid advertising at Modifly ad agency.
From a numbers standpoint, the U.S. is significantly behind when it comes to livestreaming social commerce. In China, emarketer predicted that livestreaming e-commerce would bring in nearly $300 billion in sales last year, reaching just under 12% of the country’s total retail sales. Here in the U.S., that number is so meager that it’s not even reported, according to emarketer.
The hold up, according to marketers, is a cocktail of reasons, including general Western consumer distrust of social media platforms — Americans, for example, using social media for inspiration and discovery as opposed to shopping. There’s also inconsistency in user experience, limitations in data and attribution and a generation of people who are increasingly marketing adverse. It doesn’t help that an economic recession is looming, pushing consumers to hold their dollars a little tighter.
While brand marketer curiosity in livestream shopping and e-commerce is stirring, Biancalani says Modifly’s clients have yet to go beyond experimentation.
“There definitely was interest in part because it’s a new tool,” said Noah Mallin, chief strategy officer at IMGN Media. “In most cases, the feeling was it’s not fully baked yet.”
That hasn’t stopped platforms from pushing their way into the livestreaming e-commerce market in hopes to create yet another revenue stream. Last holiday season, YouTube, Facebook, Pinterest and others announced live shopping would play a big role in holiday shopping strategies. TikTok itself has made significant investments in live capabilities, including commerce tests, paid live subscriptions, digital gifting and more.
“Live social commerce isn’t going anywhere, social platforms will continue to try and crack the code to bring a shopping channel-esque experience to the feeds of younger consumers,” Ari Berkowitz, associate director of social, content and influencer at Deloitte Digital, said via email.
“We’ll see lots of testing and surely plenty of failed attempts in the process, but the upside of live social commerce is such that the format as a whole isn’t going away anytime soon.”
3 Questions with Tom Herbst, Interim CMO at Rothy’s footwear
How is Rothy’s sustaining, and even expanding, in an increasingly crowded and competitive market?
We have a breadth of capabilities that allow us to connect with our consumers differently. Our stores are really well crafted and we put as much thought into how we design the in-store experience as we do our website and the product. More and more, you’ll see from us, acting IRL, if you will. We’re opening a number of stores this year.
As a brand committed to sustainability, how does Rothy’s toe the line between brand purpose and profitability?
One of the interesting things about being a brand where sustainability is inherent to it and not an add on, is we don’t feel like we need to convince people ‘we’re all about sustainability and that’s what you need to know about us.’ It’s truly who we are. So we connect more authentically in that space. When you have it in your DNA, it allows you to actually operate differently and create more emotional connection, which the brand has done really, really well.
Word of mouth and community building are two eternally hot topics in marketing. What does that look like in terms of Rothy’s marketing strategy?
We’re lucky that in many ways our communities have popped up organically. We’re always listening to our community. They are very vocal in what they want and they are our best source of information. As we move forward, what you’re going to see from us more is really understanding their whole lives, not just Rothy’s role in their life. [It’ll be] us looking to see how we can support them more. We tend to define our communities as movers and doers.
By the numbers
2022 is expected to be good to Amazon, which alongside Meta and Google, is expected to gobble up at least 50% of all ad money this year. In fact, digital ad platform Skai reports that one in every eight digital ad dollars goes to Amazon Ads. New research from Skai reveals how consumers feel about Amazon ads. Find details from the report below:
- 47% of consumers surveyed reported not noticing the Amazon ads in search results.
- When asked about their usefulness, only 11% labeled Amazon ads as disruptive, per the research.
- 45% of those surveyed reportedly don’t mind Amazon’s targeted ads.
Quote of the week
“You’re seeing a special uptick in spending because we’re trying to combat that narrative of misinformation around abortion care.” — Sapna Khatri, a teaching fellow at the UCLA School of Law, discussing reproductive health care advertising spend post Roe vs. Wade.
What we’ve covered
- Here’s how much more Planned Parenthood is spending on ads as Roe vs. Wade overturns.
- A look at how the e-sports industry is recession-proofing itself as economic downturn looms
- How the Almond Board of California is partnering with Marvel Studios to get in front of younger snackers
More in Marketing
The New York Times is not becoming a gaming company. But as it continues to diversify its editorial offerings for the digital era, the Times has embraced puzzle gamers as one of its core captive audiences, and it is taking ample advantage of its advantageous positioning in the space in 2024.
Today’s marketing landscape is more fragmented than ever. Like consumer brands, business brands are looking to stand out in a crowded and competitive marketplace, making marketing tactics like streaming ads, influencers and humorous spots more appealing.
The NBA’s star athletes are its greatest marketing asset.


text:
Hong Kong • Alibaba Group Holding Ltd reported its fastest pace of growth in more than four years, as the e-commerce giant’s investments in arenas from cloud computing to entertainment carved out new avenues of income.
Revenue at China’s biggest e-commerce company climbed 61% to 80.9 billion yuan (RM48.49 billion) in the three months ended June, matching the average of analysts’ estimates.
Net income slid 41% to 8.7 billion yuan, topping the 7.6 billion yuan projected after taking into account an increase in the valuation of affiliate Ant Financial Services Group, which boosted the expense of shares awarded to employees.
Alibaba’s ramping up spending in new arenas as it reduces its reliance on an online retail business facing increased competition from JD.com Inc and Pinduoduo Inc, as well as a broader economic slowdown.
It’s been busy expanding its Hema supermarket chain, acquiring food delivery network Ele.me and video streaming site Youku. But that spending is hurting mar- gins: Adjusted earnings per share came in at 8.04 yuan, short of the 8.19 yuan estimate.
Much of Alibaba’s cash is flowing into China’s US$1.3 trillion (RM5.34 trillion) food retail and services industry, where it’s trying to hold its own against delivery giant and super-app Meituan Dianping.
Alibaba said yesterday that Ele.me has raised more than US$3 billion in a new financing round led by SoftBank Group Corp. Alibaba now intends to merge Ele.me with Koubei. com, another unit focused on connecting restaurants to the Internet.
“We remain confident on the firm’s revenue growth given its diversified product offerings,” Mae Huang, an analyst at SWS Research Co said in a report. “Despite the short-term costs incurred by the firm, we believe Alibaba is building a stronger ecosystem.”
Alibaba shares were up about 4% in pre-market trade yesterday, after ending largely unchanged in New York ahead of the results. The stock has gained 3% this year compared to a 1.4% gain for the NYSE Composite Index.
Founder Jack Ma is also making an expensive foray into the US$4 trillion retail sector. Alibaba acquired a department store chain with 29 stores and 17 shopping malls last year and also bought a slice of China’s largest hypermarket chain. It’s been shelling out on content to stay abreast of Tencent Holdings Ltd and Baidu Inc in the video-streaming business.
Heavy investments in data centres for its cloud computing arm helped almost double revenue in that division to 4.7 billion yuan. — Bloomberg


text:
One of Barack Obama's achievements is the Chevy Volt, GM's entry into the hybrid market. The Administration pushed the development of the vehicle and why should it not? There's global warming and the fact that the US government now owns a car company.
There is a bit of a problem, however. From Reuters:
Nearly two years after the introduction of the path-breaking plug-in hybrid, GM is still losing as much as $49,000 on each Volt it builds, according to estimates provided to Reuters by industry analysts and manufacturing experts. GM on Monday issued a statement disputing the estimates.
Cheap Volt lease offers meant to drive more customers to Chevy showrooms this summer may have pushed that loss even higher. There are some Americans paying just $5,050 to drive around for two years in a vehicle that cost as much as $89,000 to produce.
Hybrid vehicles are great for car buyers who are want to publically display their environmental bone fides. They are not actually good for the environment. Heavy government subsidies are necessary to make them affordable enough for an Ivy League Dean. That means that wealth produced elsewhere, and not by wind power, has to be shifted over to the production of these eco-friendly lemons. Eighty-nine grand will buy you a really nice house in Aberdeen. Of course you still have to plug it in.
The Washington Post published a scathing editorial on the President's electric car policy.
AS A CANDIDATE for president in 2008, Barack Obama set a goal of getting 1 million all-electric and plug-in hybrid vehicles on the road by 2015. In February 2011, the Obama administration's Energy Department issued an analysis purporting to show that, with the help of subsidies and tax credits, "the goal is achievable." This was a paltry claim in the first place, since 1 million cars amount to less than 1 percent of the total U.S. fleet. Yet it is increasingly clear that, despite the commitment of many millions of taxpayer dollars, the United States will not hit Mr. Obama's target by 2015. A recent CBS News analysis suggested that we'll be lucky to get a third of the way there.
The Energy Department study assumed that General Motors would produce 120,000 plug-in hybrid Volts in 2012. GM never came close to that and recently suspended Volt production at its Hamtramck, Mich., plant, scene of a presidential photo-op. So far, GM has sold a little more than 21,000 Volts, even with the help of a $7,500 tax credit, recent dealer discounting and U.S. government purchases. When you factor in the $1.2 billion cost of developing the Volt, GM loses tens of thousands of dollars on each model.
Some such losses are normal in the early phases of a product's life cycle. Perhaps the knowledge and technological advances GM has reaped from developing the Volt will help the company over the long term. But this is cold comfort for the taxpayers who still own more than a quarter of the firm…
No matter how you slice it, the American taxpayer has gotten precious little for the administration's investment in battery-powered vehicles, in terms of permanent jobs or lower carbon dioxide emissions. There is no market, or not much of one, for vehicles that are less convenient and cost thousands of dollars more than similar-sized gas-powered alternatives — but do not save enough fuel to compensate. The basic theory of the Obama push for electric vehicles — if you build them, customers will come — was a myth. And an expensive one, at that.
Ouch. The WaPo points out that, as the plug-in car lines sputter,
they are taking the much-ballyhooed U.S. advanced-battery industry down with them. A Chinese company had to buy out distressed A123, to which the Energy Department has committed $263 million in production aid and research money. Ener1, which ran through $55 million of a $118 million federal grant before going bankrupt, sold out to a Russian tycoon.
Reality is mocking the President's promises. Ron Bailey offers us a bit from the President's State of the Union:
In three years, our partnership with the private sector has already positioned America to be the world's leading manufacturer of high-tech batteries. Because of federal investments, renewable energy use has nearly doubled....
I will not cede the wind or solar or battery industry to China or Germany because we refuse to make the same commitment here.
Well he was a quarter right about the batteries. He is ceding the industry to China and Russia. At least the Germans didn't get it. This is dreadfully bad policy. It is failing on all its aims and costs a bundle to boot. Energy and environmental policy have to be based on clear thinking, not wishful thinking. Government is really bad at venture capital.


text:
UAE Exchange Voted Superbrand The Fourth Time
When quality becomes a way of life, winning becomes a habit and the brand gets selected in to the elite list of the most trusted and preferred brands. UAE Exchange is among the chosen ones, yet again, when it was selected as the Superbrand by the prestigious Superbands Council in the UAE, for the fourth consecutive time. The remittance major earned this recognition due to its penchant for quality in every aspect. Earlier UAE Exchange was chosen in the Superbrands list in 2009, 2010 and 2011.
"We are totally delighted!" exclaimed Mr. Y. Sudhir Kumar Shetty, COO – Global Operations, UAE Exchange. "Superbrands council is a prestigious and independent authority, which recognises qualitative attempts to achieve excellence. It fills us with pride to know that they have found UAE Exchange as a brand totally driven by quality. On our part we have been constantly striving to achieve excellence in every aspect of our operations. It is these incessant efforts that have helped us in featuring in the coveted list, four times in a row", added Mr. Sudhir Shetty.
Mr. Promoth Manghat, Vice President – Global Operations, UAE Exchange, said, "UAE Exchange has grown into a trusted global remittance and foreign exchange brand. This recognition in its flagship market of UAE is definitely an encouragement for us to pursue excellence, globally. Along with the laurels comes high responsibility and we shall leave no stone unturned to stand up and surpass the expectations of customers, partners, regulators and authorities on quality".
Mr. Varghese Mathew, Country Head – UAE Operations, UAE Exchange, said, "UAE is a matured market with quite competent players. Every aspect in the business operations has to be well nourished to compete here. UAE Exchange has grown along with this market and has imbibed its values that make it quality-centric. Being featured in this prestigious list among like-minded organisations, which have a penchant for quality, is an honour for us".
This recognition for the fourth time in a row is the result of the brand’s commitment to bring the best to its customers.
About UAE Exchange
UAE Exchange is a leading global remittance and exchange house based in UAE with, with direct operations spanning 30 countries across five continents with over 600 direct offices. With correspondent banking relationship covering more than 150 global banks, and associations with many leading brands globally to bring several value-added products to customers, UAE Exchange, acclaimed the world over as the ‘World’s Trusted Money Transferor provides unmatched service in the industry to a wide customer base of around 3.5 million. In UAE, the brand has a leading presence with a network of over 101 branches covering all the Emirates. In October 2009, UAE Exchange commenced its 30th year of successful business operations.
Manager Media Relations
UAE Exchange Centre LLC
Al Saigh Building, Hamdan Street,
PO BOX 170, Abu Dhabi, UAE
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release UAE Exchange Voted Superbrand The Fourth Time here
News-ID: 225966 • Views: 1343
More Releases from UAE Exchange
UAE Exchange India Bags the Prestigious Golden Peacock Business Excellence Award …
Dubai, April 2016: UAE Exchange India was recently conferred the prestigious Golden Peacock Award for Business Excellence by the Institute of Directors. The award ceremony was held at Hotel Meydan in Dubai, United Arab Emirates. His Highness Sheikh Nahyan Bin Mubarak Al Nahyan, Honourable Cabinet Minister of Culture & Knowledge Development, Government of UAE, presented the award to the Chairman of UAE Exchange, Dr B R Shetty, and the Managing
UAE Exchange Recognized As A Great Place to Work
Working for an organisation that offers a work-life balance is a blessing but working for an organisation that rewards and helps improve skills of its team is a richer blessing. One such organisation that inspires and motivates its staff is UAE Exchange, the leading global remittances, foreign exchange and payment solutions brand. In a survey conducted by Great Place to Work, UAE Exchange ranked among the top 20 best employers
UAE Exchange CEO wins the Finance CEO of the Year Award
Mr. Promoth Manghat, CEO, UAE Exchange, is named the Finance CEO of the Year at Indian CEO Awards 2016, in recognition for business excellence and his achievements over the course of the past year as the CEO of UAE Exchange. Promoth received this award for his outstanding contributions in the progress of UAE Exchange. He has been instrumental in introducing various transformational processes in the organisation and instilled a passion
More Releases for Superbrand
Steel Hollow Section Market 2020 Analysis by Global Manufacturers - Tata Steel, …
Steel Hollow Section market report is a blend of statistical figures, facts and data that are derived out of extensive research by a bunch of professional analysts. The qualitative and quantitative analysis techniques have been used by analysts to provide accurate and applicable data to the readers, business owners and industry experts. The report contains chapter wise content on every aspect of the market offering a comprehensive analysis. Data analytics
Blueair Wins ‘Superbrands’ Award in the UAE
Dubai, UAE, June 19, 2019: Blueair, a world leader in air purification solutions, today announced that it has been recognised as one of UAE’s strongest and most trusted brands by the Superbrands organisation, an independent authority and arbiter of branding excellence. Blueair was voted as a ‘Superbrand’ by a panel of top UAE business leaders and more than 2,500 senior managers and marketing professionals following a rigorous selection process. “Blueair believes
Voting for Superbrands 2018 has commenced
Dubai, UAE, February 11, 2018: Superbrands, the independent authority and arbiter of branding, announced that the voting process to choose the brands in the UAE which will be recognised and honoured as a Superbrand 2018 has commenced. This year Superbrands has decided to segregate brands as Consumer Superbrands (the UAE’s strongest B2C brands) and Business Superbrands (the UAE’s strongest B2B brands) in order to recognize the relationship building marketing efforts
NMC Healthcare wins ‘Brand of the Year 2017’ by Superbrands
Dubai, UAE, September 18, 2017: Superbrands, the independent authority and arbiter of branding, announced that ‘NMC Healthcare’ has won the coveted 'Brand of the Year' award at the 13th annual Superbrands tribute event, which was held at the Intercontinental Hotel in Dubai Festival City. Sixty-four leading brands from the UAE were awarded Superbrands status and the 2017 Superbrands book was unveiled at the event, also dubbed the ‘Oscars of Branding’,
Voting for Superbrands 2017 has commenced
Dubai, UAE, December 7, 2016: Superbrands, the independent authority and arbiter of branding, announced that the voting process to choose the brands in the UAE which will be recognised and honoured as a Superbrand 2017 has commenced. Superbrands is by invitation only, and the brands which have been successfully graded or voted through independent research and the stringent Superbrands Council selection processes can participate in the Superbrands Programs. Speaking on
Dubai Duty Free Becomes The Only Brand To Win The ‘Brand Of The Year’ Twice
Dubai, United Arab Emirates, July 14, 2011: Superbrands today announced that Dubai Duty Free has once again won the coveted ‘Brand of the Year’ award at the seventh annual Superbrands Tribute Event, which was held at the Intercontinental, Dubai Festival City. Dubai Duty Free made history by winning this award for the second year in a row. Fifty two other leading UAE brands were also awarded ‘Superbrands’ status at the


text:
Groups360 continues to deploy direct booking tool for meetings
By mid-2019, four The hotel companies – Accor, Hilton Worldwide, IHG and Marriott International – have together invested $ 50 million in technology company Groups360’s project to develop a direct booking engine for non-bidding meetings. In March, IHG was the first company to launch the product, called GroupSync Engage, in nearly 30 properties of varying sizes.
Interestingly, none of the hotel company’s three other investors were next. First, the Thompson Nashville, Virgin Hotels Nashville and Atlantis Paradise Island launched GroupSync Engage. And now, Omni Hotels & Resorts has announced that it has rolled out the tool to its four Dallas-area properties – Omni Dallas, Omni Frisco, Omni Las Colinas, and Omni Fort Worth – with the rest of its portfolio of 50 properties to offer the booking engine by September.
GroupSync Engage gives planners the ability to secure event space and rooms at group rates while viewing real-time availability of any space and room a property has made available through the tool on preferred dates of an event.
As to why IHG was the first company to enable GroupSync Engage, Groups360 CEO Kemp Gallineau told MeetingsNet at the end of February that “they quickly implemented some of the integrations needed to make this happen. works effectively for planners.
Gallineau added that “the product is probably going to be for events requiring 50 rooms or less, but you might see the next phase being repeat customers with a few hundred rooms using it to book because they already know what they need from this property. “For meetings of any size, the platform allows planners to customize session room configurations, audio-visual requirements and catering offerings.
IHG expects GroupSync Engage to be used in approximately 500 of its more than 5,000 properties around the world by the end of 2021. As for when Accor, Hilton and Marriott may roll out GroupSync Engage in some of their properties, a Groups360 spokesperson said: “There will be more news to come soon.”


text:
IBC Hands Out Innovation Awards
AMSTERDAM: The IBC Awards this year recognized sports, opera and a new file-based international program exchange system. The HD cinecast project of New York’s Metropolitan Opera team was among those technologies honored at last night’s awards ceremony. The effort was bestowed the IBC International Honour for Excellence, the group’s highest award.
The Met launched live HD transmissions of performances in December, 2006 to a handful of theaters with an English-language version of “The Magic Flute.” Last year’s HD series was shown in more than 800 theaters around the world, many of them sold out--a record 1.8 million tickets were sold to Live in HD events. This year, more than 900 theaters in 42 countries will carry the Met’s Live in HD transmissions.
The series has won an Emmy and a Peabody. Mark Schubin, the engineer in charge at The Met and prolific writer on all things video, was in Amsterdam to receive the award. Schubin, well-known in the industry for his preferred habiliment of brightly colored chef pants and theme T-shirts, created a buzz at the show by wearing a suit. (Schubin is pictured here in his suit accepting the award.) Met General Manager Peter Gelb weighed in via satellite from New York.
Other honorees included ESPN, for its Virtual Playbook system that uses a special version of an Xbox game from Electronic Arts. The program recreates plays on the studio floor and allows commentators to interact.
Belgian state broadcaster RTBF took an award for NumProd, a new digital workflow that combines certain elements of radio, television and online operations.
The IBC Judges Award, went to the Arab States Broadcasting Union for its multimedia exchange network over satellite project. MENOS is a datacentric program that handles program exchange among 28 broadcasters.
The IBC gave a special award to Dutch communications firm Netpresenter for creating an Amber Alert-like system for the Netherlands Police. The system pushes information out across a variety of media platforms from a single point of initiation.
Mark Waddell of the BBC was recognized for his White Paper on the compatibility challenges of broadcast networks and white-space devices. Humax Electronics and Tangent Devices took kudos for the design of their exhibits at the IBC’s trade show.
Get the TV Tech Newsletter
The professional video industry's #1 source for news, trends and product and tech information. Sign up below.


text:
“Today, the iPod; tomorrow, the iPhone. Investors Thursday cheered Apple’s record second-quarter results, which showed major sales growth for its iPod digital music device and Mac computers. But Apple’s best days are ahead, tech analysts say,” Jefferson Graham reports for USA Today.
Graham reports, “‘The iPhone has the potential to be even bigger than the iPod,’ says Gene Munster, an analyst with Piper Jaffray. ‘The cellphone market is gigantic.'”
“Charles Wolf, president of investment consultant Wolf Insights, says Apple will likely follow its iPod pricing strategy — starting with a high retail price, and lowering it as costs decrease. ‘Once the price comes down, Apple could get to a 5% market share of phones, good for 75 to 100 million units a year,’ Wolf says,” Graham reports.
Graham reports, “Mac sales have doubled from five years ago, when the iPod was introduced. Wolf believes the iPhone will have a similar ‘halo effect.'”
“‘Now you have another device besides the iPod that will get people interested in Macs,’ says Shaw Wu, an analyst at American Technology Research. ‘The iPhone is basically a portable Mac.’ Munster thinks the success of the iPhone could help Apple eventually more than triple its computer shipments, to 5 million a quarter,” Graham reports.
“But Munster says that at his most optimistic, he can’t imagine Apple’s computer market share rising to above 15% in the USA. ‘Apple doesn’t play in the business and government markets, where the really huge sales are,’ he says,” Graham reports.
Full article, with chart of U.S. PC shipment Q1 estimates, here.
MacDailyNews Take: We can imagine Apple’s computer market share rising to above 15% in the USA.


text:
Company: Barebells Functional Foods
Introduced: November 2021
Suggested Retail Price: $25.99 (12-pack)
Product Snapshot: Barebells has just announced the launch of its new protein bar, Holiday Crisp, a limited edition for the Holiday Season. Barebells’ Holiday Crisp will be available for purchase starting November 2021 through its website, GNC, Trader Joe's, and select gyms.
"We are so excited to introduce the new Holiday Crisp flavor to our roster of great tasting protein bars," said Ben Jones, CEO of Barebells Functional Foods. "Just in time for the holiday season consumers can celebrate with a decadent, flavorful, and mouthwatering protein bar that emanates everything people love about the holidays.”
Barebells’ new Holiday Crisp flavor combines a smoother texture with a creamy sweet chocolate body on the outside, gooey salty caramel, and soft puffy crisps throughout the snack, giving it a light and crispy consistency that pairs perfectly with the flavor.
Barebells has earned significant national distribution gains since launching in the U.S. in 2020. Barebells protein bars are rich in protein with 20 grams of protein, no added sugar, without palm oil, and only 200 calories.
Holiday Crisp will be joining Barebells current lineup of Chocolate Dough, Crunchy Fudge, Hazelnut & Nougat, Cookies & Cream, Caramel Cashew, White Chocolate Almond, Salty Peanut, and a plant-based selection of Salty Peanut and Hazelnut Nougat.


text:
Meta Platforms Inc. is aiming to bring its metaverse into the mainstream with first physical store. They plans to build store to test and sell virtual reality headgear.
‘Quest 2 VR headset’ and ‘Porta” video calling gadget samples, as well as the smart glasses Meta makes with Ray-Ban, will be available at the Meta Store. Meta Platforms physical store will open on May 9 at the company’s Burlingame site in California.
Except for the Ray-Ban sunglasses, all of the devices will be available for purchase at the store. According to the website, customers may now purchase the items via meta.com’s new shopping area.
A virtual environment where people may communicate, work and play is developing by Meta. It is adding new capabilities to hardware devices that serve as portals to the metaverse.
Virtual reality platform Horizon Worlds has created by Meta late last year. It will begin testing capabilities for selling digital goods and experiences earlier this month.
Meta also announced that it will charge producers of digital experiences and assets a 47.5% fee. It is a decision that has sparked outrage among some app developers.
Analysts believe the introduction of a new version of the Quest 2 VR headset in the second quarter will be essential to the company’s metaverse aspirations. These are closely monitoring by customers and analysts alike.


text:
The Friends of the Newport Public Library will be holding a Children’s Book pop-up sale from April 19 – April 24 in the Spring Street Lobby!
All Children’s books are priced from $0.10 – $1.00. Payments can be made at the Friends Bookstore during their hours of operation or in the Honor Box against the wall of the store during after-hours. Proceeds benefit the Newport Public Library.
Click here to read more about the Friends Bookstore.


text:
Apple announcing Q3 2021 earnings results on July 27
Apple has confirmed on Wednesday that it will be holding its Q3 2021 earnings call on July 27, reporting its results for the third quarter of the year, which includes late March through late June.
The announcement will follow after Apple saw revenue of $89.6 billion, up 54 percent year over year, in Q2 2021, reporting an all-time record for Mac and Services revenue for the quarter with strong iPhone revenue and continued demand for Apple’s ever-growing portfolio of Services, including as Apple Music, iCloud, Apple TV+, and more.
As usual, Apple CEO Tim Cook and CFO Luca Maestri will take part in a Q&A with investors shortly after the official earnings call has finished. The call will be held at 2PM PT/5PM ET, with Apple releasing its full earnings report 30 minutes prior.
The Apple Post will have full coverage from the Q3 2021 earnings call plus the Q&A with Tim Cook and Luca Maestri, which will also be available to stream live on Apple.com.


text:
I switch on my Xbox One every day with my voice, and navigate to TV channels, Netflix, and even games by shouting at my TV. Microsoft's original Xbox One vision was a digital entertainment center at the heart of your living room, and I've been living that dream for nearly three years. Microsoft announced last year that it was planning to add TV DVR features to the Xbox One, and it immediately became clear the console was turning into the perfect cord-cutting set-top-box. In recent weeks, that cord-cutting dream doesn't seem so real anymore.
I live in the UK and it means I get a Freeview TV service on my Xbox One (with adapter) that includes HD versions of the most popular terrestrial TV channels all for the cost of our TV license (£145.50 / $194 a year). With a vast array of on-demand TV services from British broadcasters and services like Netflix or Amazon Prime Video, I have little reason to pay for cable or satellite TV providers like Sky, Virgin Media, or BT unless I really want to watch live sports. I can even get access to watch Arsenal fail to win the Premier League every year, at a price premium, thanks to Sky's Now TV app. With Plex, and many other entertainment apps, the Xbox One is almost perfect for cord cutters like me.
Being able to record TV was the last piece of the Xbox One puzzle for me personally, but Microsoft's announcement before E3 made it sound like the feature had been canceled. The software maker also focused solely on gaming and Windows 10 during its E3 press conference, sidelining any potential entertainment features. Rumors ahead of E3 had suggested Microsoft might launch two Xbox TV devices, but those turned out to be inaccurate. It's not clear if that was just bad rumoring, or Microsoft has delayed or canceled those TV-focused devices.
Microsoft continues to focus on gaming over entertainment
Elsewhere, Microsoft launched new Xbox apps for iOS and Android ahead of E3. They look exactly like the Windows 10 version of the Xbox app, but some of the key media features are missing. Microsoft has slowly been adding some of them back, like searching for movies or TV shows from the app. However, most of the useful SmartGlass features like being able to see how long is left on a Netflix show, or pausing directly from the Xbox app are still missing. It's this lack of attention to entertainment features, or increased shift to a gaming focus, that leaves me disappointed at the Xbox I thought could be my only set-top-box.
Microsoft is also continuing to step back from Kinect. While the new Xbox One S features an IR blaster to control your cable box, the Kinect port is gone. You'll need a special USB adapter to get the Kinect working with the Xbox One S. Just this week, Microsoft announced it's killing off its Xbox Fitness app that relied on the Kinect sensor. Kinect is a key part of Microsoft's original Xbox One vision, and the main way to pause or switch TV channels with just your voice. It hasn't always been reliable, and I was hoping the commands and recognition would improve over time.
Unfortunately, the opposite seems to be happening. While Cortana is heading to the Xbox One this summer, early previews have shown it's focused on more than just the basic media control that debuted with the console initially. I've spent some time testing Cortana on Xbox One, and it's a disaster in its current state. Pausing TV or entertainment now takes far too long, and Cortana now misses my instructions to switch TV channels regularly and presents web results snapped to the side instead. It's frustratingly bad, but hopefully Microsoft will fix most of the issues before its debut this summer. If not, I'll be switching back to using a remote and disconnecting my Kinect for good.
Xbox One DVR "on hold," Xbox apps on iOS and Android, no Xbox TV devices, Kinect's slow death, and Cortana's rocky arrival on Xbox One all combine to demonstrate Microsoft's increased focus on gaming. That's probably a good thing for most Xbox One owners, but I bought the console as I believed in Microsoft's dream of a digital hub in my living room. It feels like the good entertainment features are slowly getting stripped back. Hopefully Microsoft remembers there are still people like me who believed in the original Xbox One vision, and want more than just another games console.
Five stories to start your day
The Roam-e isn't the only drone we've seen that can autonomously fly away from you and take your picture, but it is the first that's been shaped....like this. "Tube-like" is one delicate way to put...
Somehow, don't ask me how, Google's zombie of a social network experiment has shambled its way to the grand age of five years old. That's right, Google+ was launched on June 28th, 2011, at a time...
A lot of people have complained about Microsoft's aggressive Windows 10 installation strategy. One person has actually gotten some resolution: according to The Seattle Times, Microsoft is paying...
Until we see some convincing evidence otherwise, one Tetris movie is likely to be one too many for most. Somewhat unbelievably, however, there are now going to be three. Why? "Purely because the...
As expected, Volkswagen has reached a deal this week with US regulators to compensate owners of vehicles affected by its massive diesel emissions cheating scandal — a systematic global deception of...


text:
Week of August 12, 2002
Blockbuster Deal of the Week
from Site Selection's exclusive New Plant database
LOOKING FOR A PREVIOUS STORY? CHECK THE ARCHIVE.
Target Does Topeka:
Site Selection Executive Editor of Interactive Publishing TOPEKA, Kan. "Project Good Friend," it was dubbed. And no wonder. With its US$80 million in capital investment and 650 jobs, Target's (www.target.com) distribution center was the kind of bricks-and-mortar friend that many a business recruiter would've risked a root canal to land.
It didn't come to that. Instead, something simpler won Target's 1.3 million sq. ft. (117,000 sq. m.) worth of friendship for Topeka, Kan.
"Economic development is not a one-person, a one-organization or even a one-community effort," said Doug Kinsinger, president of the Greater Topeka Chamber of Commerce (www.topekachamber.org). "It is definitely a team effort."
That's obviously a business recruitment-truism. But like many truisms, walking the walk is a lot tougher than simply talking the talk.
And Topeka fairly power-walked the teamwork talk in going after Target. A broad range of organizations and businesses went to bat to land the project. Many recounted the effort at the project announcement, held in downtown Topeka's Capitol Plaza Hotel.
"When this whole process of economic development got underway, we all said collectively, 'We're going to do whatever we possibly can to make this work,' and that's what we've done," Ted Ensley, chairman of the Shawnee County Commission, said at that announcement. "There's been very, very little debate on behalf of the commission. We understand the importance of economic development."
Target's Search Mixes Care, UrgencyEconomic development's importance got an exclamation point with the prospect of Target's 650 jobs.
That prospect arrived looking for voluminous details. Target, for example, asked all competing locations to complete a 17-page questionnaire. Thirty city and county officials gathered in one room in Topeka to tackle that task. When they were done, the answers covered 50 pages.
In another nearby room, Target officials questioned local officials face to face.
Target has become known for that sort of thoroughness in locating its distribution centers. And lately, the company's site selection team is getting a lot of practice.
Target is in the process of implementing plans to build, in only 30 months, 12 new distribution centers, each serving 85 to 90 stores, explained Mitch Stover, senior vice president of distribution services. Previously, the company had built only 12 distribution centers in its entire 39-year history.
Urgency accents Target's expansion blitz, Stover explained. Emboldened by its booming business, the Minneapolis-based company is adding more than 100 stores a year, ensuring that items stay in stock.
"Target is one of the few retailers having very strong growth," Stover said. "We have to have this infrastructure for growth - this is the critical path. If we don't have the centers, we can't open the stores."
And opportunity for new Target stores is fairly bashing down the company's door. The company "is performing spectacularly well," The New York Times' observed earlier this month. Target increased sales by 8.1 percent in fiscal 2002, registering an arresting 36 percent increase in earnings in its last quarter.
Topeka, though, didn't begin as a perfect fit. The city of some 125,000 residents was only one of many candidate locations in the Midwest. (Target didn't disclose the other states that it considered.)
Topeka got into Target's mix back in November of 2001. Kellie Danielson, a business development consultant for the Kansas Department of Commerce and Housing (KDOCH at kdoch.state.ks.us), fielded a call from Ryan Cos. (www.ryancompanies.com). The Minneapolis-based development, construction and property management firm has been working with Target for some 30 years. It was Ryan Cos. Director of Development Randy Danielson (no relation to the Kansas official) who named the Target site search Project Good Friend.
Kansas sent out the word to its economic development community. No one was told the name of the corporate prospect, only its substantial location needs.
Meeting one of those needs wouldn't be easy, Topeka officials realized. Shawnee County contained few large, available land tracts. Go Topeka, the Topeka Chamber's economic development arm, responded by contacting local landowners and developers. If you have land to sell, they were told, contact us.
Ken Schmanke, president of KS Commercial Real Estate Services (www.kscommercial.com), went a step further, volunteering to help identify acreage. Schmanke eventually acquired options to buy 400 acres (160 hectares) of land from 12 separate owners. All owners had to agree on the purchase price.
Helps Fund Incentive Package Schmanke's proactive initiative solved Topeka's site needs.
That left the city with a major edge in meeting another of Target's major criteria - incentives. Topeka voters in 2000 had approved a quarter-cent sales tax for economic development. Passing that tax has been part of a major change in the city, Lt. Gov. Gary Sherrer said at the project announcement.
"When I cane here in 1995 as secretary of commerce and housing, there were good people here, but they didn't have all the tools they needed," recalled Sherrer, who also serves as secretary of the KDOCH. "When this community responded by agreeing to tax itself, it tells you that there is a way to invest in the future without depending on somebody else."
Revenues from the economic-development sales tax helped fund the city and county's $18-million incentive package. Included in that package is Target's 143-acre (57.2-hectare) site near U.S. Highway 75.
KDOCH is also providing an incentive package, which includes work-force training, tax credits for job creation and capital investment, and a sales tax exemption for the center's construction costs. Kansas officials didn't estimate the total value of the state incentives.
Contract Provides Penalties
The company signed a 15-year agreement in which it promises to maintain 650 jobs for 10 years. For each year that the company falls below the 650-job threshold, it must pay Shawnee County $4,000 per job.
The contract also spells out penalties if Target closes the center in the 11th to 15th years that are covered in the agreement. If the center closes after 11 years, for example, the company must pay Topeka and Shawnee County $3 million. The penalty for closing drops by $600,000 in each year over the next four years.
Two other Kansas cities, Wichita and Olathe, were the other finalists for Target's distribution center, company officials said.
And the big fish that Topeka caught may get bigger. A company spokesman said that the center's employment may increase over time to 1,000 workers.
Local officials, after long keeping the project under wraps, were relieved to at last reveal the name of the corporate good friend who might come calling.
"I've had a lot of people talk to me, and I've said, 'I don't know who the company is,' " Topeka Deputy Mayor Betty Dunn said at the announcement. "Today, I'm happy to say that it's Target. Now I can say to Topeka, 'We're going to keep growing.' "
Editor's note: For more on Kansas, see the Sunflower State section in the November 2002 Site Selection. The new Target distribution center in Topeka is also part of the ports coverage in the September issue's Infrastructure Report.
©2002 Conway Data, Inc. All rights reserved. Data is from many sources and is not warranted to be accurate or current.


text:
The company will release the redesigned Skyline luxury sports sedan under the Infiniti brand as early as this winter, the daily said. (Agencies)
The Skyline is sold as the Infiniti Q50 in United States for a base price of USD 36,700 (3.6 million yen). The price and sales target in Japan have yet to be set. A plant in Tochigi Prefecture will handle production.
The automaker intends to sell the new Infiniti-brand cars at existing Nissan dealerships, with no plan to establish an exclusive sales network for now. Whether the lineup is expanded in Japan will depend on sales trends, Nikkei said.
Nissan chief executive Carlos Ghosn set a new profit target in May for the Infiniti, which in recent years had hardly contributed to the automaker's operating profit as it struggled to export profitably with a persistently strong yen.
Infiniti, produced mostly in Japan and exported overseas, accounted for less than 1 percent of Nissan's operating profit in the last two years, Ghosn told reporters at the time.
However, Infiniti will meet its own operating profit margin target this fiscal year, as a weaker yen and a low depreciation charge would help it offset the launch costs of the new Q50 model, Infiniti's president, Johan de Nysschen, said last month.
De Nysschen said that he expected the brand to achieve its target for an operating profit margin of 6-7 percent in the business year ending in March 2014.
The company will release the redesigned Skyline luxury sports sedan under the Infiniti brand as early as this winter, the daily said.


text:
You must be familiar with the drill now. Xiaomi rolls out an update for the Mi A3. It comes with bugs. Xiaomi advises to not download the update and then pauses the roll out. Later, it rolls out a new update fixing the issue. It has happened yet again.
It seems like Xiaomi is again having troubles, but with the Android 11 roll out this time around. Recently, it rolled out the latest Android OS update for its Mi A3 phones, which caused some of them to brick. As a result, the company had to stop the rollout. It issued an apology soon after but there was no fix in sight. Now, Xiaomi has announced that it will be fixing these broken (software-wise) Mi A3 phones for free.
The company has requested the affected Mi A3 users to visit their nearest service center and the issue will be fixed for free. It doesn’t matter if your phone is under warranty or not, it will be fixed for free. However, the lost data might not be recovered.
We are aware of the issue on some Mi A3 devices following a recent Android 11 update. We have since halted the rollout. We kindly request users who experience this issue to visit any of the 2,000 plus service centers across the country nearer to you wherein a solution will be provided for free unconditionally (within or beyond warranty).We regret the inconvenience this has brought about. As a brand committed to offering the best possible user experience, we will continuously improve our products and services.


text:
Riding on the high of the previous success, the Lumia 1020, the Finnish smartphonemaker is gearing up to release their next handset, the Lumia 1520. We’ve already seen trusty @evleaks’ press render, and the device specifications, and now more images have surfaced online actually depicting what we assume to be the Lumia 1520.
In the picture, the Lumia 1520, codenamed Bandit, is sporting a 20 MP PureView camera, with a Carl Zeiss lens, now a standard for the company as seen in the 1020. Based on the image, we can also expect the phone to be 4G + LTE compatible, and likely to hit Verizon. It is also plausible that a modified version of the phone may be released with other US carriers, like the 920 on AT&T and 928 on Verizon. Another fact we can gleam is that the device is quite large, probably close to the 6-inch phablet mark.
To quickly review the specifications, the device will likely come with a 6-inch 1080p display, powered by a quad-core Snapdragon 800 processor. It is speculated to come with 32 GB of internal storage, microSD card expansion, and a 3400 mAh battery. It will likely run on the GDR3 update on WP8. As can be seen here, the camera speaks for itself, the form factor around 6-inches, the speakers at the bottom, and a dual-flash.
The phone is rumored to release in late October, and hit stores by November. This is much later than the September release earlier anticipated, possibly delayed by the Microsoft acquisition. Given that the makers of the WP OS have now acquired the company responsible for championing their OS, we can expect great things from the dynamic duo. This will likely be the last of the Nokia Lumia series, and they truly made a big splash.


text:
Fashionologie is open at 50th and France in Edina (3940 W. 50th St.; 952-929-1388). Owner Deepali Roth, who has been designing and manufacturing fashion accessories for such department stores as Macy’s and Nordstrom for the past 15 years, wanted a place of her own.
When the former House of Amore & Fedie space became available, she took over the spot. “I felt it was time to have a place where I could bring my own style,” she said. “It’s been the best thing coming into the store every day and working with customers directly.”
Fashionologie offers women’s clothing, purses and accessories. Top names such as Miss Me and Rock Revival are part of the store’s merchandise, with apparel ranging from $30 to $200.
Roth plans to sell her own line of jewelry, purses and clothing at the store, which she hopes will happen this summer.


text:
Town Allows Alcohol Sales For First Time Since Prohibition
July 9, 2002 at 4:31 PM EST - Updated July 3 at 4:16 PM
TALLMADGE, Ohio (AP) - Prohibition has finally ended for the growth-minded Akron suburb of Tallmadge.
For the first time in more than 80 years, alcohol sales became legal Monday in Tallmadge, with Mayor Christopher Grimm getting things going by sipping on a microbrew beer at Delanie's Neighborhood Grille.
When 13 years of nationwide Prohibition ended in 1933, Tallmadge refused to allow local sales, fearful of too many taverns.
The change, approved by voters last year, was prompted by a desire to attract chain restaurants that depend on liquor sales.
"It's definitely not a coincidence that there are no big chain restaurants in Tallmadge," said Delanie's owner, Nicholas Dadich. "It's because it has been dry."
(Copyright 2002 by The Associated Press. All Rights Reserved.)


text:
FIRST NIGHT: A host of Italian designers turned out on Thursday evening to support emerging brands at the Vogue Talents and Who Is On Next event, hosted by Vogue Italia and shopping outlet Fidenza Village.
Silvia Venturini Fendi, Alberta Ferretti, Vittorio Missoni, Luisa Beccaria, Giuseppe Zanotti, Tommaso Aquilano and Roberto Rimondi were among guests who checked out the exhibition featuring Italian and international designers, many of whom were showing in Milan for the first time — and had beginners’ nerves to match.
That had fashion veterans reminiscing about their most memorable experiences. For Diego Della Valle, it was a magazine shoot. “It was the first shoes that I designed when I was very, very young. When the people chose the shoes for an Italian magazine, at that moment I thought, ‘Wow, this is it,’” he recalled.
Moschino creative director Rossella Jardini cited a show for the now-defunct brand Cadette, designed by Franco Moschino. “I was so moved, I cried,” she said.
Fendi, meanwhile, had in mind a show at the Permanente Museum in the Seventies. “I got goosebumps on my back — Karl [Lagerfeld] and my mother [Anna Fendi] received a standing ovation. I realized how important it all was and I started thinking that maybe something like that could happen to me, too, in the future,” she said.
Vogue Italia editor in chief Franca Sozzani and her U.S. counterpart Anna Wintour toured the stands to chat to participants.
Wintour’s words of support left Kenyan designer Adèle Dejak visibly energized. “She was just very complimentary — I was really shocked,” she said. Dejak, whose brightly patterned handbags are 100 percent sourced and made in Africa, hopes the Vogue Talents event will prompt European buyers to pick up the brand, which is sold online at http://www.adeledejak.com.
Italian designer Eleonora Bruno was looking to catch the eye of Anna Dello Russo with her spectacular headdresses, featuring metallic gold spikes and brightly dyed vegetable feathers. “I’m waiting for her,” she quipped, adding that her creations, sold under the Ely.B. label, were inspired by “the saints and Mary Magdalene.”
Australian designer Dion Lee was making his Milan debut after staging his second catwalk show at London Fashion Week. His body-conscious dresses bonded natural fibers like silk, georgette and wool with more technical fabrics such as neoprene and synthetic jersey – some featuring heat-transferred rubber patterns.
“Obviously, being in Sydney, it is very environment-based. You spend a lot of your time outside in the sun, and therefore, I think the collection has that athletic, sexy undertone to it,” he noted.
Among the other brands on show were 10A, by Daria Dazzan and Matteo Cibic; Comeforbreakfast, by Francesco Alagna and Antonio Romani; LedaOtto, by Simona Cassai and Marta Saletti; Halaby, by Rome-based Lebanese designer Gilbert; Anne Sofie Madsen from Denmark; Thomas Tait from Canada; ‘Jewel’ by Lisa, by Nigerian designer Kisa Folawiyo; and Vega Zaishi Wang by Chinese designer Zaishi Wang.
Fidenza Village plans to open a new boutique, The Talent Store, in autumn 2013 to sell the work of up-and-coming designers.


text:
As E3 draws to a close, video games reporter Ben Skipper picks the five best games on show at this year's expo.
WikiLeaks clarified that Ecuador has claimed that it would 'continue to protect Mr Assange's asylum rights'.
Thai laws forbid people from insulting the monarch or its family members.
Virgin Media said it will not offer a bug bounty for finding the third-party flaw.
Google's Android flagship hides away Samsung-made RAM and a particularly fragile OLED panel.
Ultra HD Blu-ray films look amazing, but are they set to be replaced by streaming services?
Has the South Korean manufacturer decided against another modular experiment after low LG G5 sales?
The researchers' algorithm correctly predicted the outcome of hundreds of cases with 79% accuracy.
Ubisoft Montreal's bright and breezy open world is reflected in its fun missions and tone.
The attack is able to hijack phones to knock them offline, use them to make calls and even send text messages.


text:
What has 2021 looked like for the restaurant industry so far? There’s been a lot of upheaval since 2020, and this year is all about picking up the pieces. But that doesn’t mean there’s no opportunity for growth. The pandemic forced consumers to change their behaviors. Some of those behavioral changes are here to stay, and they’re driving restaurant trends that can lead to growth. We’ve been regularly updating our COVID restaurant insights report since the pandemic began, and it’s been interesting to see how things have changed – even just over the past couple of months. Here are the specific trends we’re watching this year.
Restaurant Growth Trends
Trend# 1: Sales are up, but traffic is not likely to reach pre-pandemic levels this year.
The good news: consumers are excited to eat out again. Our data shows that sales are up, and they are stronger than they were back in 2019. Yet, restaurant traffic still hasn’t recovered. This means that restaurants need to seize every possible opportunity to bring in revenue. Tracking your business metrics and benchmarking them against the rest of the industry can help you understand where you stand, and whether you need to make adjustments to attract the right customers.
Because of the pandemic, you can’t compare this year’s data to last year’s, as you normally would. To truly understand what’s changed, you’ll have to look at things differently. Download this guide to learn how to compare restaurant data in the wake of recent events.
Trend# 2: Delivery will continue to evolve.
Delivery went from a steadily rising trend to a must-have capability last year. It’s hard to predict how much, and how long, the increased interest in delivery will persist. And that raises questions about how much to invest in delivery technology and capacity. For instance, many restaurants are using dining space as a staging area for delivery orders. How long should those arrangements last? And should they make permanent modifications to the dining area?
Also, while many restaurants rely on third-party apps to handle their delivery needs, some businesses are starting to invest in their own. Creating your delivery infrastructure gives you greater control over the customer experience. The question is, are these changes worth the upfront investment? To pivot correctly, restaurants need to continue to stay up to date-with off-premise dining trends. Monitoring customer intelligence will help you gain the insights you need to shape your strategy.
Trend# 3: More investment in ghost kitchens.
Speaking of delivery-focused investments, some restaurants are launching their ghost kitchens as a cost-effective way to manage the high volume of delivery orders. There are a few different models for ghost kitchens: they can serve a single brand, or they can be shared by multiple restaurants.
Experts predict that they’re here to stay, but the model will continue to change. Creating your ghost kitchen, or renting space at an existing facility, is a significant investment. It also requires a good deal of logistical planning. That’s why it’s one of the more interesting new shifts that experts are watching as the year unfolds.
Trend# 4: Staffing challenges will persist.
Perhaps one of the most unexpected byproducts of the pandemic is the staffing shortage. Despite high unemployment, many businesses are having trouble filling open positions, forcing restaurant owners to balance the recovery with labor challenges.
It’s an uneven trend, with varying causes. In addition to recruiting new employees, restaurants need solutions to keep current employees on board to avoid the high cost of turnover. Workforce intelligence helps restaurants make smart choices that allow them to meet demand, adapt to new trends, and reduce turnover, all while keeping costs under control.
Trend #5: Consumer habits have changed, but unevenly.
When it comes to consumer dining habits, it’s hard to pin down the new normal. Some consumers will continue eating at home more. Others will be eager to get out of the house and enjoy eating out again. Savvy restaurants will leverage consumer intelligence and guest intelligence to understand customer spending habits and satisfaction levels.
This information will help you understand where to invest your dollars, as your customers’ preferences evolve through the recovery. We continually talk to experts to understand the evolution of consumer dining habits and explore the strategies that restaurants are using to attract diners. Keep up with our events so you can stay in the know.
FAQs About Restaurant Industry Trends
Is the restaurant industry growing?
Unfortunately, the restaurant industry isn’t growing. According to the National Restaurant Association, the pandemic set the industry back to 2014 levels, in terms of sales. More than 110,000 establishments closed in 2020, many of them permanently. The good news is, it looks like the worst days are behind us and the rebound is here.
What drives the restaurant industry?
The factors driving the industry this year are customer experience (with a heavy emphasis on convenience), a rebounding economy, and alternative models, such as ghost kitchens.
How large is the restaurant industry in 2021?
As of January 2021, the U.S. restaurant industry is worth $659 billion and employs 12.5 million people.
Which type of restaurant is most profitable?
Quick-service restaurants are outperforming the rest of the industry right now, with many experts attributing their success to off-premise operations.
Are restaurants opening back up?
As of June 2021, most restaurants across the country are back open for indoor and outdoor dining, have returned to normal hours, and are allowed to be at full capacity (even in states such as California and New York where restrictions were very strict for the longest time) and no longer require masks. However, many restaurants are still not open at full capacity, not because of pandemic restrictions, but because of staff shortages.
Preparing for the future
Although last year was a whirlwind of change, it’s time to look ahead to the future. While no one can truly predict what’s in store for the years ahead, keeping up with the latest data will help you use these trends to your advantage. There are many factors impacting restaurant industry trends this year – from consumer habits to public policy. Keep up with the latest insights to stay one step ahead. Sign up for the Restaurant Industry Performance Pulse for weekly data on what’s new in the restaurant industry.


text:
Xiaomi recently unveiled the Redmi AirDots 2 TWS earphones, which sold more than 3 million units in China due to the fact that it’s only priced at RMB79 (~RM48). However, once the crowdfunding campaign is over, the aforementioned earphones will revert back to its retail price of RMB99 (~RM60).
In terms of the tech specs, the wireless earphones come equipped with 7.2mm drivers as well as Bluetooth 5.0 support. But that’s not all, it’s able to last up to a total of 12 hours and it also features noise reduction technology which helps immerses the listener by reducing the noise of their surroundings.
Unfortunately, there is no official information on whether the Redmi AirDots 2 TWS will be coming to Malaysia and the local pricing for now. Would you be interested in getting the earphones as soon as it is available in the local market? Let us know on our Facebook page and for more updates like this, stay tuned to TechNave.com.


text:
Users can now download the public beta version of iOS 11 from Apple’s website.
The operating system was unveiled at WWDC 2017 and includes various application improvements – such as the ability to easily transfer media between apps, and new features.
After signing up for the Apple Beta Software Program, users can enroll their device to access the beta of iOS 11.
The beta version is expected to include bugs, and users can provide feedback on issues using Apple’s Feedback Assistant app.
The final release of iOS 11 is expected to be available later this year.


text:
VidOvation Integrates IPTV with DirecTV Content
IRVINE, CALIF.—Video, audio and data communication system manufacturer VidOvation has announced that its IPTV system, VidOvation TV, now includes full DirecTV integration. This end-to-end IPTV system will bundle live DirecTV content with digital rights management systems, video on demand, and digital video recording, as well as enable streaming to consumer devices and set-top boxes, according to VidOvation.
VidOvation TV is designed to allow organizations to incorporate live TV programs, live internal video broadcasts and VOD for training and communications purposes. The system can deliver digital television programming to smartphones, tablets, desktops, and smart TVs. It also allows scheduled recording and on-demand time-shift viewing.
With the new DirecTV integration, VidOvation reports that things like live sports and news broadcasts are now available as part of VidOvation TV.
The latest product and technology information
Future US's leading brands bring the most important, up-to-date information right to your inbox


text:
Maker of Hit Toy Hatchimals Hatches a Plan to Win ChristmasMaker of Hit Toy Hatchimals Hatches a Plan to Win Christmas https://c-suitenetwork.com/wp-content/uploads/2017/07/maker-of-hit-toy-hatchimals-hatches-a-plan-to-win-christmas.png 642 428 C-Suite Network https://c-suitenetwork.com/wp-content/uploads/2017/07/maker-of-hit-toy-hatchimals-hatches-a-plan-to-win-christmas.png
Something is hatching this October. Spin Master, the Toronto-based company behind Hatchimals, the “it” toy of 2016, is preparing for the second iteration of its popular hatching egg toy. But unlike last year, when stores sold out in minutes and desperate parents paid as much as $500, more than eight times the original $60 price, for the privilege of having the must-have item under their Christmas tree, the toymaker will not be caught off-guard.
“It wasn’t that supply wasn’t there—it was an aggressive supply,” explained Tara Tucker, VP of global marketing and communications at 23-year-old Spin Master, which also owns Paw Patrol and Etch A Sketch. “It just caught on so quickly and exceeded anyone’s expectations.” She noted that consumers lined up for Hatchimal product drops as early as 4 a.m. in the months following the brand’s October 7 debut last year. One analyst estimated two million units were sold, generating some $80 million in revenue, according one CNN Money report.
Some retailers are dedicating more space to toys this holiday in an effort to boost sales and encourage in-store visits. JC Penney announced last week it will operate toy shops…


text:
Jeremy Hobson: As earnings season continues we’ll get a look at the airline sector today. Delta will tell us how they did in the last three months. Analysts are predicting an increase in revenue at both companies. Thanks in part to all those new fees for things like checked luggage and seat upgrades. But with more and more passengers learning how to avoid fees, the airlines are trying to change the way we look at them.
Marketplace’s Jennifer Collins has the story.
Jennifer Collins: It’s lunch time on a Virgin America flight. Chicken wrap?
Commercial: Is someone in the mood for spicy?
Virgin America also offers a Spinach and Strawberry Salad, Blackforest Ham on Foccacia, and did I mention the Funkin’ Margarita? This is not the average overpriced snack box. Forrester Research travel analyst Henry Harteveldt says if airlines want to sell food — or anything else — they’re going have to offer something people want.
Henry Harteveldt: I think what they’re trying to do is to shift this from being viewed as fees towards selling the customer a product or a service the traveler would value.
After training passengers to pack light, carry on and bring a lunch, airlines need new ways to get them to spend. Peter Yesawich of marketing firm Y Partnership says airlines are also starting to offer a broader range of products: exclusive access to cushy lounges, Wi-Fi at 30,000 feet, hotel stays.
Peter Yesawich: Transportation that will help you get to the airport, even selecting from a full menu, perhaps, on board. All of those options will be available on some type of a la carte-priced basis.
Airlines depend on fees and add-ons for 30 percent of their revenue in some cases. It’s a $21 billion business. Again, Henry Harteveldt.
Harteveldt: If they didn’t have the revenue earned from these checked bag fees and $3 cans of Pringles that they sell on the plane, the airlines’ financial condition would be a lot worse than it already is.
But will these products sell? Caroline Pagani is a travel agent with Uniglobe.
Caroline Pagani: Where are we sending Cassidy?
Pagani says most of her clients are focused on comfort.
Pagani: Most of them just want their seat.
They’ll pay extra for leg room or exit row seating. And Pagani says her clients might buy meals — if they’re better than what they can pack onboard. This summer, Delta is tempting fliers with Ben and Jerry’s. Cherry Garcia anyone?
I’m Jennifer Collins for Marketplace.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.


text:
Cigarette Manufacturers Win Challenge
A U.S. Federal Court of Appeals agreed with a challenge by U.S. tobacco manufacturing companies that a provision of federal law requiring graphic images on products warning of the dangers of smoking is a violation of the Constitutional guarantees of free speech.
The Family Smoking Prevention and Tobacco Control Act of 2009 requires nine written warnings on packages along with alternating graphic images showing such images as smoke-infected lungs and a diseased mouth. The warnings were scheduled to begin appearing next month and would have covered half the cigarette packaging sold at retail outlets and 20% of all cigarette advertising.
The tobacco companies initially won in federal court in March, but the government appealed. The 2-1 split U.S. Court of Appeals for the District of Columbia has now upheld that ruling and ordered the Food and Drug Administration to immediately revise its rules. READ MORE.
However, as of August 28, the FDA's website did not contain new guidance for the industry, still posting this statement from February 2012.


text:
15 May 2020
15 May 2020 • By Tamison O'Connor
News & Analysis
6 August 2019
6 August 2019 • By Reuters
25 April 2019
This week, Schiaparelli names Bertrand Guyon’s successor, while a former Berluti executive is appointed to lead the North America division of Audemars Piguet.
24 April 2019
24 April 2019 • By Reuters
21 February 2019
21 February 2019 • By Bloomberg
19 February 2019
19 February 2019 • By Sarah Kent
17 January 2019
This week, Bergdorf Goodman announces its new chief operating officer, while LVMH appoints Delphine Arnault to its executive committee.
15 January 2019
15 January 2019 • By Bloomberg
10 January 2019
17 December 2018
17 December 2018 • By Reuters
Why Fast Fashion Still Has Gen-Z’s Heart
The Manicure Gets a Makeover
LVMH’s Tiffany Is on the Right Track
A Big Sky at Alexander McQueen
Is LVMH’s Big Bet on Tiffany Paying Off?
Is Fashion Ready to Put Its Supply Chain on the Blockchain?
Re-Invention: How Fashion’s Megabrands Will Adapt to Post-Pandemic Customer Behaviour
The Race to Create Zero-Waste Jeans
How Twentyfourseven Is Reinventing the Showroom
Can Brands Make Billboards Go Viral?
Here’s Who Is Hiring in Marketing
Fashion Week Istanbul: A Creative State of Mind
Manfred Thierry Mugler: Fashion’s Original Radical
Introducing ‘The BoF Show with Imran Amed’ Streaming on Bloomberg Quicktake
Italian Cosmetics Group Intercos to Launch IPO in October
Saks Off Fifth Boosts Minimum Hourly Wage to $15
Power Moves | Asos Chief Executive Steps Down, Tiffany Names New CMO
BoF Live: Why Fashion Needs Chief Brand Officers
Olivier Rousteing Reveals Burns from Fireplace Blast