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The second most viewed news article on the Echo site so far this month is a beauty contest semi-final; at the time of writing, it’s more than 5,000 hits ahead of (and two rankings higher than) an exclusive interview by the sports editor with the CEO of Liverpool FC, a club that can truly claim to be a global brand with fanatical followers around the world. In short, that was an article you’d have put money on securing the number one spot in the rankings, but it’s being beaten by a local beauty pagaent which is generating thousands of page views (possibly from proud relatives…)
The phrase ‘We Know What They Want’ is a kissing cousin to ‘If It Bleeds, It Leads’; murders sell papers and a news editor is always going to put the big crime story at the top of the newslist, but… a violent death isn’t always the best story of the day, and not all readers appreciate being served up a diet of crime.
They tell us so, in surveys, on forums, in phone calls, comments under articles, and on blogs. We can’t risk doing the same thing online – a YouTube video of some TV singer might do wonders for hits but considered retrospectively I’d say it’s a false positive and gives a skewed view of what our core audience values.
A slideshow presentation into the US news industry brought home to me the risks that accompany assuming you know your readership well. It details the results of a survey of 2,400 U.S. newspaper executive and was presented to last week’s American Press Institute’s Newsmedia Economic Action Plan Conference by Greg Harmon, of Belden Interactive, and Greg Swanson, of ITZ Publishing.
I discovered it via Steve Outing’s blog and I think the slides illustrate how out-of-touch some of the newspaper executives who took partwere. The survey shows the majority incorrectly assumed readers found their content very valuable; they also stated a belief that readers would struggle to find adequate replacements – the reader response was that they wouldn’t find it difficult.


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Ever since we saw rumors around the 2022 iPhone 14 lineup, one thing that we have heard the most is that Apple will ditch the notch and go for a punch-hole screen, or a pill-shaped notch, for that matter. While past rumors have been in line with this, the latest information is slightly different. The latest report hints at an iPhone 14 Pro with a combination of “hole and pill” display. Here’s how it looks like!
The Start of a New Display Trend?
Popular analyst Ross Young reports that the iPhone 14 Pro and 14 Pro Max will go for a ‘hole+pill’ design, leading to a new display design. This, Young suggests, will be unique to Apple, much like how the notch was and won’t be anything like the punch-hole screens seen on Android phones. Here’s what the front panel on the next-gen iPhone might look like:
If this is what Apple is going for this year, it might prove to be a start of a new display design trend, which might find its way to future Android phones too. Remember how the notch was copied? Plus, it can help Apple accommodate all the necessary Face ID sensors and the front camera without having a space crunch. And, the notch will go away too!
Although, there are high chances that Apple will stick to the notch for the non-Pro models, the iPhone 14 and iPhone 14 Max. This year, we are most likely to not see an iPhone mini.
For those who don’t know, this isn’t the first time we have heard about this unique iPhone design. Last year, an unknown Twitter account posted an image, which showcased a similar design. There are high chances that Apple might go for this as a major design upgrade for the iPhone lineup this year. But, this rumor still needs to be taken with a grain of salt for we don’t have any official details available as of now.
In other news, another leak suggested that the iPhone 14 Pro might get just a pill-shaped cutout. It remains to be seen what Apple chooses!
As for other iPhone 14 details, it is expected to come in four variants: the 6.1-inch iPhone 14, iPhone 14 Max, the iPhone 14 Pro, and the 6.7-inch iPhone 14 Pro Max. These new iPhones are expected to come with various camera improvements with the inclusion of 48MP cameras, the A16 Bionic chipset, bigger batteries, possible support for USB Type-C ports, 5G (obviously!), and loads more.
We can expect to see them launch toward the end of this year and more rumors and leaks until the launch officially takes place. Hence, stay tuned for more information on the 2022 iPhone 14 series. Also, don’t forget to share your views on the iPhone 14 Pro’s leaked design in the comments below!
Featured Image Courtesy: MacRumors

domain: news


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Twitch has hired Sara Clemens, former COO of Pandora. She is a tech and media veteran whose previous work experience includes LinkedIn and Microsoft’s Xbox team, also as COO.
At Twitch, Clemens will head all commercial, operations, and go-to-market teams, and she will be responsible for expanding the company’s business functions internationally. Clemens quit Pandora in February of 2017. At LinkedIn, Clemens led the company’s entry into China, and at Microsoft, she led products and partnerships for their Xbox division. She has also worked with Telecom New Zealand.
Other than Clemens, the company hired Mark Weiler as their new SVP, head of Platforms and Services. Weiler is a former Microsoft and Rubicon Project executive. Finally, Amir Shevat steps in as their new Vice President of Developer Experience. Shevat’s previous work experience includes working as Head of Developer relations at Slack.
“With our focus on listening to our community and providing the products and services to fuel their success, it’s important that we continue to invest in a leadership team that will ensure we are bringing these things to market in a timely and effective manner,” Twitch CEO Emmett Shear said about the new hires. “To that end, Sara Clemens, Mark Weiler, and Amir Shevat are all recognized leaders in their respective fields and extend Twitch’s role as a leader in social video.”
With Clemens joining Twitch, co-founder Kevin Lin will step down from his position as the COO, and will be reporting directly to CEO Emmet Shear.
“Twitch is a uniquely creator-centric company as demonstrated by the level of social engagement on the service,” Clemens said in a statement. “My goal is to apply my global experience from the technology, gaming and entertainment industries to optimize how the teams at Twitch work together to further the brand’s mission of enabling creators to connect with fans and build amazing real time experiences.”
Twitch was acquired by Amazon in 2014 for $970 million. Through this acquisition, Twitch added new features and integration with Amazon through programs like Twitch Prime.


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Apple on Thursday sent invitations to members of the media to attend a company event on Sept. 10 in which it is expected to show off the latest iterations of several products, including new iPhones.
"Please join us for an Apple special event," read the invitations that were emailed Thursday morning. Unlike some previous Apple events, where the company has used its invitations to tease what it has in store, Apple didn't give any hint about what it will show off at its Steve Jobs Theater in Cupertino in less than two weeks.
However, if history serves as a blueprint, Apple will unveil the next models of iPhones at the event. For more than a decade, Apple has held a company event in September or early October to stoke enthusiasm for the iPhone going into the Christmas and holiday shopping season.
While seating for the event is limited to members of the media, Apple employees and select guests, Apple is also live-streaming the proceedings starting at 10 a.m.
Apple will reportedly take the wraps of what are being called "Pro" iPhones that will come with more-advanced camera and video technology and replace the current top-of-the line iPhone XS and iPhone XS Max. Apple is also expected to bring out a new iPhone to take the place of the iPhone XR.
New iPads, including higher-end iPad Pro tablets and a lower-cost model marketed toward students, as well as a new MacBook Pro laptop, and updates to the Apple Watch and Apple TV set-top device may also be on tap for Apple's event.
Apple is also expected to give details on its upcoming Apple TV+ subscription streaming TV offering, such as how much it will cost and when the service will make its debut.
Apple is hoping that new iPhones, in particular, will give it a boost this holiday season after what has been a disappointing year for the iPhone, and declining overall sales for the company. In Apple's fiscal third quarter, which ended in June, the company said revenue from iPhones fell nearly 12% from the year-ago period, to almost $26 billion.
The final three months of the year, when consumers load up on gifts for the holidays, is historically Apple's busiest business period of the year. During October, November and December of 2018, Apple reported $84.3 billion in revenue, but that was down by 5% from the same period in 2017.
(c)2019 The Mercury News (San Jose, Calif.)
Visit The Mercury News (San Jose, Calif.) at www.mercurynews.com
Distributed by Tribune Content Agency, LLC.


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The Aptera car is powered by a combination of solar and electric energy, what the company refer to as its Never Charge technology – meaning drivers would be able to complete average journeys without having to stop for more power at charging stations.
Measuring at 4.4 metres long, 2.2 metres wide and 1.4 metres high, the three-wheeled Aptera vehicle can accommodate two adults and a pet, according to the company.
While the car can be fully charged via a charging station or cord, when drivers are out on the road during daytime, solar energy from the sun will keep the vehicle topped up.
This solar technology is designed to store enough sunlight to enable the car to travel over 11,000 miles per year in most regions.
The company has a calculator on its website that enables people to enter their location and the amount of miles they drive in a day to determine how many times a year they would need to charge the car.
For instance, if you were located in Britain and drove an average of 25 miles per day, you would need to charge the Aptera vehicle via an electrical cord an estimated 1.46 times per year.
In addition to this, it has a level two autonomy capability, meaning it can control the steering, acceleration and braking, but the driver must be at the wheel to intervene when needed.
This car, is planned to go into production in 2021.
Source: Natashah Hitti


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Three Australian breweries have been awarded medals at the World Beer Cup which took place in Minneapolis last Thursday, 5 May.
Stone & Wood’s Green Coast Lager won Silver in the category for its Kellerbier or Zwickelbier while both Urban Alley and Bucketty’s Brewing were awarded Bronze in the categories of Australian Pale Ale and Session Ale, respectively.
Widely considered the most presitgious beer competition in the world, the World Beer Cup is hosted by the US Brewers Association and celebrates the craft beer-makers globally. This year is the first time the competition has been held since 2018. It received more than 10,500 entries from close to 2,500 breweries representing 57 countries.
Suffice to say, competition was fierce.
Stone & Wood’s Green Coast Lager was pipped at the post by US Brewery Heater Allen which won the Kellerbier or Zwickelbier category for its beer, Pils. A kellerbier or zwickelbier is an unfiltered European-style lager or ale. Historically the category has been dominated by European breweries.
Brewery’s Slapshot was awarded Bronze in the Australian Pale Ale category and Bucketty’s Pale Ale No 2 in the category of Session Ale.
Bucketty’s Brewing Founder Nick McDonald said, “It’s a big deal for us. We’re known as a brew pub, not as a brewery, so hopefully this will put us on the map with beer drinkers.”
Bucketty’s Brewing Co is in Sydney’s Brookvale and its brews are stocked in around ten independent bottle shops as well as on tap at The Stowaway in Freshwater and at The Keel Bar in The Rocks.
“We sell a lot of beer on tap,” says Mr McDonald.
Sadly the Gold and Silver awards for the Australian Pale Ale category were awarded to American based breweries: Lost Winds Brewing Co for its Beach Hoppin’ Pale Ale and Sunriver Brewing Co for its Bondi Beach Party. (Ouch!)
But Head Brewer at Urban Alley Dove Bailey points out, “They have freshness on their side.” The homeground advantage is that US brewers deliver their beers for the contest in kegs.
Regardless, for Urban Alley’s Slapshot, Mr Bailey says it is a great affirmation for him and his team.
“We’re constantly working and thinking about whether to tweak things. This award is the right excuse to say, ‘We’re doing something right, so let’s keep on doing the same’,” he says.
Slapshot is available at a wide range of stockists and is on tap at Urban Alley’s Brewhouse in Docklands as well as the new brewpub at Knox Ozone which is due to open to the public on Thursday, 12 May.
Lead photo: Bucketty’s Brewing Co’s Dan, Gareth and head brewer Tony. Photo by Founder, Nick McDonald.


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While Microsoft has been making efforts to expand its cloud-based gaming platform named xCloud; the company is also now expressing its plans towards making the platform more accessible through lower-priced hardware. According to the latest reports, it could be a plug and play kind of device; pretty similar to Google’s Chromecast, but instead will allow users to play xCloud games on a TV without an actual Xbox.
These new rumors around the upcoming Chromecast like xCloud dongle; comes after an interview of Xbox’s chief Phil Spencer with a publication called Stratechery.
“I think you’re going to see lower-priced hardware as part of our ecosystem, when you think about streaming sticks and other things that somebody might want to just go plug into their TV and go play via xCloud,” he is quoted as saying. He also adds that “You could imagine us even having something that we just included in the Game Pass subscription, that gave you an ability to stream xCloud games to your TV and buying the controller”.
Also Read: LG G8X Thinq – The Master of Omni-Tasking
Currently, xCloud is only available on select devices and platforms. xCloud could also be accessed on Android through the Xbox Game Pass application by Microsoft; Additionally, the brand also plans to roll out the xCloud features to iOS devices.
Google’s Stadia: a gaming platform similar to xCloud is a direct competitor with Microsoft’s xCloud. However, Google has also made significant efforts to expand the users of Stadia. As of now, it has a wide content catalog than the xCloud; while also confirming that Ubisoft will soon roll out games such as Assassin’s Creed Valhalla and Far Cry 6; for Google Stadia.


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WASHINGTON (MarketWatch) - New orders for durable goods such as autos, appliances and airplanes are expected to be flat in February, according to economists polled by MarketWatch. The Commerce Department will release the report at 8:30 a.m. Eastern. Orders fell a preliminary 1% in January on a seasonally adjusted basis.
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PSVR 2 Games, PlayStation VR 2 Games, PSVR 2, PSVR 2 Games Announced, PSVR 2 Games Rumored – Sony‘s PSVR 2 is in full development and is supposedly coming out in Q1 2023, and we’ve already caught a glimpse of its design as well as the controller. Still, hardware is only as good as its games, so what’s on the cards for Sony’s new headset? Let’s find out!
PSVR 2: All Games Announced To Date
Horizon Call Of The Mountain
Co-developed by Firesprite, which joined the PlayStation family of studios in September 2021, Horizon Call of the Mountain is a spin-off set in Guerrilla Games’ futuristic sci-fi world, and sees you stepping into the boots of a brand new character rather than Aloy. It’s one of the first games confirmed for PSVR 2 by Sony, so perhaps it’s a launch title?
Low-Fi has the distinction of being the first ever PSVR 2 game confirmed, which was revealed back in March 2021. The Blade Runner-flavoured title is the spiritual successor to Technolust, and is described as a ‘next-generation virtual reality simulation in which you as the player patrol the streets (and the skies above them) solving mysteries, fighting crime, or giving in to corruption.’
nDreams Unnamed PSVR 2 Game
nDreams has announced that it already has a PSVR 2 game in development, but hasn’t divulged any further details beyond this. The news was revealed in a press release after it had acquired a $35 million investment from Aonic Group.
NFL Pro Era
A quarterback simulation title that sees players attempting to climb the NFL league for a spot competing in the Super Bowl. Players will take part in training as they battle against competing teams in the league, with PSVR 2 putting you right in midst of the action.
Truant Pixel officially confirmed RUNNER for the PSVR 2 in April of last year, and takes the form of a cyberpunk romp set in a future driven by themes such as lo-fi and cassette futuristic. Players engage in adrenaline-pumping combat and driving, all set to a pulse-pounding soundtrack and dynamic music.
PSVR 2 – All Rumored Games
Nick Baker has claimed that Valve’s Half-Life Alyx is on its way to PSVR 2, although there’s been no confirmation from Sony or Valve at this point.
Resident Evil Village
Resident Evil Village at one stage was set to feature PSVR support, which ultimately didn’t make the cut in the final game. However, with the horror title still a solid fit for virtual reality support, there’s a chance that Capcom could implement PSVR 2 support at some point soon, possibly to coincide with its upcoming DLC.
Gran Turismo 7
Gran Turismo creator Kazunori Yamauchi has been very coy about the prospect of PSVR support for Gran Turismo 7, and as only said that he is unable to talk about it “yet.” With the game now available for PS5, there’s a strong chance that it could gain support for PSVR 2 in the future.
Impulse Gear’s original Farpoint was one of the highlights of PSVR, and while a sequel hasn’t been officially announced yet, there’s every chance that we may get one. In fact, here’s what the studio told UploadVR:
We definitely don’t have anything to announce at the moment but that is our roots and we’re very happy with what we did on Farpoint. And I think you look at that game and that universe and there’s absolutely a lot more to explore there.
We’re sticking this one as a rumor for now, as we’ve only heard about it from a Polish interview that hasn’t been corroborated. Medieval Dynasty has already seen huge popularity on PC via Steam, and according to the aforementioned interview with its creators, they’re also planning a PSVR 2 version.
We’ll be adding more to the list over time, so keep checking back!


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Millennials shunning malls speed Web shopping revolution
NEW YORK — CJ Chu is a retailer's nightmare.
The 24-year-old associate for a private-equity firm does "99 percent" of his shopping online — even toothpaste. He'd rather buy groceries on the Web than walk to the supermarket.
"Convenience and free time is something I value," said Chu, who works for Bridge Growth Partners in New York. "Ordering online just makes more sense."
Chu is an extreme case. Yet millions of Americans like him are abandoning stores faster than executives predicted, pushing the industry to a precipice. Traditional retailers, for the first time ever in 2014, will generate half their sales growth on the Web, according to Stifel Financial Corp. That means about $18 billion in new revenue generated this year will come from online purchases, an analysis of U.S. Census data shows.
The stampede online will only accelerate as 80 million U.S. millennials start families, buying homes and filling them with stuff. Mobile shopping is giving e-commerce another boost. Next month, Amazon.com will start selling a smartphone that will allow shoppers to scan a product in a mall and purchase it from the company's online store, giving retailers another reason to fear their most potent Web rival.
It's widely accepted that traditional chains must mesh physical and online stores into a seamless shopping experience, but "nobody is doing it well," said Anne Zybowski, vice president for retail insights at Kantar Retail in Boston. "There isn't any best-in-class because nobody is there yet."
Making it happen is hard because retailers are operating from a weakened position. Chains like RadioShack are losing relevance and re-inventing themselves on the fly. Sears Holdings is selling assets in an effort to survive. Wal- Mart Stores generates less than 3 percent of sales online, despite opening a Silicon Valley outpost. Even players with a robust Web business like Staples are struggling to find the right balance between bricks and clicks.
E-commerce has been doubling in size about every five years, a pace that's likely to accelerate. While the Web accounts for only 10 percent of total U.S. retail sales, in such categories as computers, online sales have reached more than a third of the total. Products once deemed relatively Web-proof — furniture, daily necessities — are moving online.
"There's been a lot of discussion over the years on 'where does e-commerce top out?'" said Andrew Lipsman, a Chicago-based analyst for researcher ComScore. "We haven't seen any evidence of it slowing down yet."
Millennials, the second-largest U.S. generation after their baby boomer parents, will only make life harder for traditional retailers.
While economically challenged Americans in their 20s and 30s are off to a slow start, their spending will more than double to $1.2 trillion by 2020 and account for a third of all U.S. purchases, according to Accenture. In about a decade, a cohort born between the early 1980s and just past the millennium will make up 75 percent of the workforce, according to the Brookings Institution.
These aren't your mall rats of yore. In a study from ad agency DDB Worldwide, 40 percent of men and 33 percent of women in the age group say buying everything online would be ideal.
More than a third of millennials already say that they rarely or never go to an enclosed mall, according to a study last year by the Urban Land Institute, a nonprofit focused on responsible land use. As many as 60 percent seldom visit apparel-focused department store chains like J.C. Penney. Meanwhile, about half spend an hour or more a day shopping or browsing online, the group said.
Take Jorie Goldberg, a 32-year-old from Vernon Hills, Illinois. She shops the Web at least once a day and has become an even bigger devotee since becoming a parent three years ago. Like many Americans, she shops online less for the deals than for the convenience and superior service.
"The fact that I can do it sitting on the couch watching TV, it's just invaluable," said Goldberg, a product manager at Learning Resources, which makes educational toys. "It's a lot better then schlepping a kid to a store and wasting time."
Retailers from Best Buy to Nordstrom have often cited one-on-one customer service as a competitive advantage, the reason shoppers should frequent their stores. Yet traditional chains are losing that edge to the Web, too.
A decade ago, Nordstrom topped the National Retail Federation's customer-service rankings. By 2011, the onetime champ of making customers feel special, had sunk to 10th place - - behind Amazon, Zappos and Overstock.
"It used to be a high-touch, personalized thing, one person to another," Peter Nordstrom, the chain's merchandising chief, told students in April at the Fashion Institute of Technology in New York. "Now customers value speed and convenience. That never used to be part of the equation. It was a giant wakeup call for us: that if we didn't make that part of our core competency, we were doomed."
It's not as though retailers are standing still. In recent years, they have experimented with a range of technology from giving employees iPads to help mix and match outfits to using video surveillance to speed up checkout.
Yet many retailers are simply playing defense. One of their biggest innovations is price-matching, increasingly vital given Amazon's plan to use the new Fire Phone to lock customers into its ecosystem. Best Buy and Target match prices at any competitor, including Amazon. Wal-Mart doesn't but is testing Savings Catcher, an app that scans receipts for items that are cheaper at local rivals and pays customers the difference via e- giftcard.
Only a handful of retailers -- Best Buy, Home Depot, Nordstrom -- have invested enough to merge their physical and online stores. Their efforts have centered mostly on improving online shopping -- in-store pickup being the most obvious example -- and not making visiting a store any better.
"Retail will change more in the next five years than it has in the last 50," said Chris Donnelly, who runs Accenture's global retail practice in London. That doesn't bode well for chains that have been "staying the course."
The Web wouldn't be as disruptive if retailers could easily shift investment to where the growth is coming from and cut back spending on their legacy business. That's difficult because chains rack up massive costs to operate stores and keep them pretty. And if they did reduce spending on renovations and labor, that would likely only push more people to the Web.
"It's a challenge," said Steve Sadove, the former CEO of luxury department-store chain Saks. And figuring out how to invest more in technology is quickly becoming "the differentiator between winners and losers."
Closing a bunch of stores isn't viable because that's where chains still generate the bulk of their sales and profit. What's more, a physical location remains one of the most potent forms of marketing -- many chains post higher online sales in zip codes where they have stores.
Another hurdle is that the store has always been at the center of these chains' business models. Thus, the majority of e-commerce units were created as walled off businesses. Remedying this requires massive changes to the culture and structure of enormous, traditionally slow-moving bureaucracies.
This has left chains trying to solve the familiar dilemma of navigating from one growth model to another. The most recent upheaval came when the big-box business model in the form of retailers like Best Buy, Staples and Barnes & Noble Inc. took hold two decades ago and used selection and lower prices to wipe out chains with smaller stores. Now they are in danger.
"It's not that they haven't been aggressive enough at closing stores, it's that they haven't been aggressive enough at growing the Internet," said Jerry Storch, a former Chief Executive Officer of Toys "R" Us who now runs retail consulting firm Storch Advisors. "Stores can be an extra layer of convenience, not a negative."
So far, that has been easier said than done.
— With assistance from Cotten Timberlake in Washington and Lindsey Rupp and Lauren Coleman-Lochner in New York.


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Fancy yourself the type of person who might earn a masters degree in business analytics, marketing intelligence, media entrepreneurship or business enterprise?
If so, Fordham’s Graduate School of Business may have a free degree waiting for you. To kick off the launch of four new masters programs, the college has issued “Fordham Business Challenge 2012,” a contest featuring as the top award four full scholarships worth $300,000.
To win a full scholarship to one of the programs, which start in August 2012, participants have to solve and present a real-world business case in one of the four new areas of study:
Prepares graduates for successful careers in this growing field by developing students’ strategic thinking skills along with a solid technical foundation in data and model–driven management decision–making.
Created for high–potential new and recent college graduates with limited business experience who want to gain marketable business skills in order to stand out to employers.
Designed to launch high–potential recent graduates into successful marketing careers, this comprehensive one–year program will teach students the latest in marketing intelligence skills needed to make smart and effective evidence–based business decisions.
Opens career opportunities not only in existing media and information services firms, but also in new organizations and entrepreneurial ventures seeking to capitalize on the tremendous opportunities available in digital media.
In addition, one of the winners will be awarded with an elite internship. The deadline for entry is May 31. For more information, visit Fordham Business Challenge 2012.


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Premier Inn owner Whitbread cuts fewer jobs than forecast despite tumbling hotel and restaurant trade as staff agree to reduced hours
- Whitbread said in September that 6,000 redundancies were at risk of occurring
- Third-quarter food and drink sales dived 41.1% in Germany and 53.9% in the UK
- The firm's German hotel sales rose by 5.9% in the 13 weeks to November 26
Hospitality firm Whitbread has cut 1,500 jobs after government restrictions caused attendance at its restaurants and hotels to plummet.
The company initially reported in September that 6,000 redundancies were at risk of occurring, but due to cost-cutting measures that saw staff agreeing to reduce their working hours, only around a quarter of that number were carried out.
It comes as it revealed its third-quarter results showing that sales at its UK Premier Inn establishments fell by more than half as tiered regulations and England's second national lockdown damaged business travel and demand in big cities.
Whitbread's third-quarter revealed that stays at its UK Premier Inn establishments fell by more than half as restrictions hit business travel and demand in big cities
Total accommodation sales in Germany did rise by 5.9 per cent in the 13 weeks to November 26, even though the country has similar restrictions on hotels to those in the UK.
Whitbread has been expanding its hotel estate on the European mainland and sales in Germany for the first nine months of the financial year were almost a third higher on last year, while in the UK, they were 70.1 per cent lower.
It added that it would continue to expand its operations in Germany, but warned that with Covid-19 restrictions hammering sales, it now expects the division to be loss-making into 2022-23.
Whitbread chief executive Alison Brittain said the business expects travel curbs in the UK and Germany to continue 'until at the very least the end of our financial year'
Domestic occupancy levels did pick up in September thanks to strong tourism and business demand, with stays in regional hotels performing relatively better than those in London, reflecting the broader trend across the accommodation industry.
But sales started to fall off in October and slump heavily in November as Wales instituted a fortnight-long 'fire break' and England went into a second national lockdown. Hotel stays also plunged by two-thirds in the last five weeks of 2020.
Chief executive Allison Brittain said the business expects travel curbs in the UK and Germany to continue 'until at the very least the end of our financial year.
'With the vaccination programme underway, we look forward to the potential gradual relaxation of restrictions from the Spring, business and leisure confidence returning, and our market recovering over the rest of the year.'
Food and drink sales in both countries have also been very severely affected. They dived by 41.1 per cent in Germany and 53.9 per cent in the UK, though in the previous two quarters, they tumbled 72.6 per cent and 80.1 per cent, respectively.
After Prime Minister Boris Johnson announced England was to enter is third national lockdown from January 5, all of Whitbread's UK dining outlets, which include the Brewer's Fayre and Table Table brands, were temporarily closed.
All of Whitbread's UK dining outlets are temporarily closed under government lockdown rules
Two-thirds of its UK hotels are open, but public guidelines state you can only stay in hotels if you are a key worker, self-isolating, moving house, or would become homeless should the accommodation close.
These restrictions have caused massive financial damage to the hospitality sector. An Office for National Statistics survey published last week found that half of hotel and food service firms did not have at least three months' worth of cash reserves.
Russell Pointon, Consumer Director at Edison Group, said that despite a weak sales performance, 'Whitbread's balance sheet is in a strong position, and the Group has over £2billion liquidity headroom on which to draw.
'However, with there being a lack of clarity around when restrictions are likely to be eased, an uncertain and torrid few months likely lie ahead for the bluechip hospitality company.'
Shares in Whitbread closed trading 4.3 per cent higher at £31.92.
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Barometer Shows Greater Interest In Buying Life Insurance
April 13, 2021 by Susan Rupe
One in three consumers surveyed said COVID-19 prompted them to consider buying life insurance in the next 12 months.
That was one of the significant findings in the 11th annual Insurance Barometer survey, conducted by LIMRA and Life Happens. The annual survey looks at the consumer mindset around topics relevant to the life insurance industry.


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If there is a special item you simply can’t live without but don’t have the money for, the traditional way to buy it has been with a credit card.
Today, however, the whole idea of credit cards are under threat from the “buy now pay later” instalment plan providers like Afterpay and Zip Pay, who are presenting a real challenge to the credit card companies.
With a credit card you are incurring a debt of as much as 20 percent on your balance.
That might be manageable if you pay off your balance down to zero each month, but many people let their card balances accumulate to the point that it becomes a real problem.
The average amount of credit card debt for Australian card holders is $4200, while over half a million Australians carry debts of greater than $5000.
Although interest rates have been in freefall, credit cards companies have largely maintained their rates. Consumer group Choice has accused them of “stealing” $6.3 billion by maintaining their rates as the cash rates have fallen.
The attraction of the ‘buy now pay later’ or instalment plan providers is that – unless you default on your instalments – there is no interest charge.
If you use funds from these providers sensibly, you simply pay for the instalments when they are due.
The fees are paid by the retailers who have secured your purchase, and interest only comes into the equation if you miss your instalments.
Data from the Reserve Bank of Australia supports the view that Australians are falling out of love with credit cards.
Credit card spending slumped by $8.1 billion in April to $19 billion, or the lowest monthly spend since April 2011, and balances fell 11 percent to $41.5 billion.
It could be argued that some of this was the result of the COVID-19 disruptions, but the trend is longer term. The RBA says there was a 7 percent decline in the number of credit card accounts in the year to March 2020.
We are yet to hear an April update from Afterpay, although the company has reported a 97% increase in underlying sales for the first quarter of 2020.
In July it announced it had amassed almost 10 million active users around the world, and is raising $1.05 billion from investors for international expansion.
In response, the credit card companies are fighting back.
US bank Citi, which has an Australian credit card book of $4.5 billion and the fourth largest market player, has entered into an agreement with online retailer Kogan which replicates many of the features of the instalment plan offers.
Although Citi’s card boss Alan Machet told the Australian Financial Review this month that it was too early to call the death of credit cards, Citi did record a 10 percent decline in card balances between April and June, after a 3 percent fall in the first quarter.
For April, spending on Citi cards was 40 percent lower year on year, although June spending was at the same level as June 2019.
As with many markets, the COVID-19 pandemic has been a significant disrupter the consumer credit market.
Whether credit cards can reclaim their status post pandemic remains to be seen, but what is clear is that, for the first time, they are facing real competition from a product which for many consumers is a more attractive option than 20 percent interest on balances.


text: Houston's economic expansion showed signs of slowing in June, according to the latest survey of purchasing managers by the Houston affiliate of the Institute for Supply Management. Local companies reported weaker growth in new orders, production, employment, purchases, prices and production lead times, according to the monthly survey that gathers purchasing data from about 40 companies in a range of industries including oil and gas exploration and production, oil and gas support services, engineering, manufacturing, wholesale trade and health care. Economists watch the results for signs of upcoming economic activity. The Houston Purchasing Managers Index released Thursday was 52.4 points in June, compared to 59.2 points in May. The index is on a 1 to 100 scale; readings higher than 50 indicate an expanding economy, while readings below 50 point toward coming contraction. The index measures eight key factors: new orders, production, employment, purchases, prices, lead times, purchased inventory and finished goods inventory. Ross Harvison, chair of the Houston business survey, said he is concerned with rising inventory levels and slowing production rates. June marks the second month that inventories of finished goods have gone up, he said. And it's the fourth month that inventories of feedstocks - components used to make finished products - rose. When inventories rise, companies tend to cut production rates, he said. While production rates continue to rise, the growth wasn't nearly as robust in June as it was earlier this year, he said. Harvison speculates companies here may be feeling the sting of higher oil prices. While higher prices bode well for oil and gas exploration and production companies, higher prices boost productions costs for non-energy firms. Harvison said he isn't worried overall about the slowdown in growth but he watching on whether the trend continues. The latest report shows the area's economy has been positive for 58 consecutive months.


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Blockchain technology, the invisible engine powering the vibrant ecosystem of cryptocurrencies, has been hailed as an innovation with the potential to revolutionize numerous sectors. Forecasts are teeming with optimistic visions of a future where the ledger technology disrupts industries from finance to healthcare and education. Yet, a spell of skepticism remains to cool the zest, as people wonder if blockchain is a bulletproof solution, or another over-hyped bubble.
A primary allure of blockchain is its promotion of decentralization which promises a future free from intermediaries, such as banks or government agencies. Envisage a world where you can directly send BTC to anyone across the globe without a bank functioning as a middleman. This vision is already being actualized with the advent of decentralized finance (DeFi) platforms like Binance.
Simultaneously, blockchain is hailed for its transparency, data integrity, and traceability. Businesses can use it to track products throughout their supply chain, eliminating the lurking menace of counterfeit goods. Moreover, as every transaction is recorded in immutable blocks, trust is established without the need for third-party validation.
On the other hand, due to its distributed nature, incorrect entries verified by a network node in a blockchain are difficult to alter, leading to potential irreversible damages. Additionally, while the increased level of security is a commendable asset, the absence of a centralized entity leaves a user no recourse if their digital wallet is hacked or access lost.
The environmental footprint of blockchain technology, particularly those that rely on energy-intensive proof-of-work algorithms like Bitcoin, is an aspect that requires earnest evaluation as well. Elon Musk‘s recent critique of Bitcoin’s high energy consumption underscores the gravity of the issue.
Lastly, as with many emerging technologies, the regulatory landscape for blockchain is murky. Governments around the world are grappling to strike a balance between encouraging innovation and ensuring consumer protection. The fallout from inadequate regulation can have serious implications as evidenced by the infamous DAO hack.
So, as we forge ahead into the era of decentralization, the question is, are we ready for blockchain? Despite the teething troubles, the potential advantages of this game-changing technology almost appear to outweigh its drawbacks. Yet, whether the implementation of blockchain will truly bring about a revolution or instead a chaotic disruption, is a tale only time will tell. The inevitable juxtaposition of potential and pitfall paints an exciting, albeit uncertain future for blockchain technology.


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Baltimore Sun: US Foods to close Severn distribution center
Apr. 6, 2016 | Updated 4/7 | US Foods said Wednesday that it would close a distribution center in Anne Arundel County in June, eliminating the last local footprint of a once-mighty Maryland company, after failing to reach an agreement on concessions with unionized workers at the facility ... US Foods wanted $8 million in annual concessions from the unions, including switching from pensions to a 401(k) and an average pay cut of $5.75 an hour for warehouse workers — demands that were too large, said Denis Taylor, president of Teamsters Local 355, one of two Teamsters locals that together represent about 180 workers in Severn. "There's no possibility that we could meet the company's demands," he said. "It's just not possible."... US Foods, like many large employers, is required by law to provide advance warning of major layoffs. The state has not received a formal notice, said a spokeswoman for the Department of Labor, Licensing and Regulation. Continued
Maryland sick leave bill gains new momentum on final day of session
Apr. 11, 2016 | After being declared all but dead last week, a bill that would require bosses to grant sick leave to their employees picked up new momentum on the final day of the Maryland General Assembly session on Monday. A version of the bill already cleared the House of Delegates, but has remained bottled up in the Senate Finance Committee. baltimoresun.com
Local Unions recommend ratification of Costco tentative agreement
Apr. 19, 2016 | Teamster local unions on the East Coast and in California that represent 16,000 Costco members are recommending ratification of a new tentative agreement after members rejected an earlier proposal last month. The agreement has the full recommendation of the bargaining committee. Although the terms of the settlement cannot be disclosed until members are given the opportunity to ratify the offer, it does include for the first time the opportunity for East Coast Costco Teamsters to participate in the Western Conference of Teamsters Pension Trust Fund. Local 570 represents more than 900 members employed at Costco in Maryland. Learn more here…
US Foods Teamsters strike in Maryland
Apr. 27, 2016 | Update here. "On April 27, 2016 at 2pm, Teamster members of U.S. Foods in Severn, Md., walked off the job and commenced an unfair labor strike against the Company," according to a Teamsters Joint Council 62 press release issued today. "The dispute centers around the Company's failure to bargain in good faith, its use of out-of-state and non-bargaining-unit employees to perform work normally performed by the Teamsters, and the Company's attempt to deal directly with its employees concerning effects bargaining. US Foods employs approximately 190 Teamsters in both the warehouse and delivery operations." Stay tuned here for updates on Local 570 warehouse workers' fight for justice.


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The National Telecommunications Corporation (CNT) has recently launched its pay TV business through a DTH satellite technology in SD and HD. "The SD offer includes three packages, from basic to Premium, known as a super package; in addition to the packages 1 and 2, and a combination of these two," said Ramiro Almeida, manager of the office program at PMO, and responsible for the Ecuadorian government's TV Projects. "Additionally, we have an HD offer which we are gradually adding elements to," he said.
The company became part of the pay TV industry in late 2011, with the intention of taking over 15% to 20% of the market. "According to official numbers from the Telecommunications Superintendence, there are around 500,000 pay TV subscribers in Ecuador," he said. The executive stated that as a new player in the market, "it intends to take over 10% of the market" during its first year in business.


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MABTON — The journey of self-discovery for Adrian “Noe” Calixto, owner of N Between The Lines clothing and grid kids coach, has guided him in becoming an unwavering advocate for helping others in need with repurpose apparel.
The full-time welder turned fashion online retailer sells t-shirts, hats and now face masks while donating an article of clothing to a social service agency with each purchase. His philanthropic role took shape when he began his football coaching, matching worn athletic gear with area youth.
Over the past year, Calixto has undertaken a program of self-development and embarked upon his purposeful path to aid those struggling with life’s hardships in coordinating clothing donations destined to bring about positive change.
“What we’re doing is moving a lot of clothes between Yakima and Tri-Cities and now partnering with Rod’s House in Sunnyside for youth clothing donations that I receive,” Calixto, who also delivers women and children’s clothing to domestic violence shelters, acknowledged.
Around the time COVID‑19 was taking a strong hold throughout the lower valley in May, he decided to quit his job and expand his driven role while honing his community outreach skills.
“I recently started volunteering at Domestic Violence Services of Benton and Franklin counties for the last couple of months,” Calixto stated. “In time, I hope it grows into something major along with my sole proprietorship ambitions.”
The stand alone “N” in his two-year old business refers to the first letter in his middle name, Noe, which everyone knows him by when he was growing up. “The whole N Between The Lines actually represents the day you start until the day you end. Basically, your entire life,” Calixto conveyed. “This is just me in between those marks and I’m doing what I can do, along with anyone else.”
Grandview resident Ebany Delgado and his family of four had filled bags of worn wear and a few household items for Calixto to pick up from their garage around 6 p.m., Wednesday, Sept. 16.
Delgado voiced an encouraging message that his family achieved from contributing their worn clothing items that will aid others.
“We’re grateful and why not give back to the community. And I hope the community responds the same way and helps each other out to those who are less fortunate than we are,” Delgado declared.
For the time being, Calixto is enjoying building awareness for his company’s brand by taking pictures of the people he receives the bags of donations from and posting the images on his social media account. The public outreach is to thank them for paying it forward and a free cloth face mask is awarded for their efforts in making a difference for all to see.
“It’s a small operation and done with 100% generosity and good intentions. There’s no religious implications behind it. Just human kindness is what it boils down to,” he described.
As a result of his coaching experience in basketball, boxing and football, Calixto has dealt with at-risk youth and would like to be a mentor and provide them with self-empowerment skills to expand their perception of who they can be and the courage to change their direction.
“There’s a lot of uncertainty for people right now but there is also lot of opportunity and people need to understand that,” Calixto communicated. My life’s purpose is just to help people, however I can.”


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The processor for the new Amazon Fire Phone has been revealed as Qualcomm’s Snapdragon 800, the same SoC (system on chip) released on the most recent Kindle Fire model tablet. This processor was one of the biggest releases for Qualcomm back when they announced it in early 2013, sporting a coming to "virtually every global OEM" tag early on.
Intel has revealed its new Core M 14nm Broadwell processor range and a stunningly slim 2-in-1 reference design to show it off, a super-skinny 7.2mm thick tablet. The prototype has a 12.5-inch touchscreen but still manages to be fanless, paving the way for Windows 8 powered tablets that can compete with ultrabooks for performance and app flexibility, but at the same time with iPads for weight and bulk.
Intel is taking on self-driving cars, smarter next-gen dashboards, and better automotive security with a new In-Vehicle Solutions platform of chips and software to get vehicles like Google's autonomous pod on the roads quicker. A sub-division of Intel's Internet of Things group, the team's first products target cars with advanced safety and semi-autonomous systems - both on the road and when dealing with potential digital threats.
Qualcomm is readying the Snapdragon 805, and with new processors - and the superlatives to go along with them - proliferating, it’s trying to address the question of whether the new chip is the “Next Big Thing” or not. I caught up with Qualcomm to find out what makes the Snapdragon 805 special, to run some early benchmarks ahead of the first commercial devices arriving later in the year, and to see if its advances in 4K, CPU/GPU performance, camera tech, and more add up to a chip worth having.
AMD's Jim Keller, chief cores architect poached from Apple in 2012, has detailed the development process of Project SkyBridge, the company's new hybridization approach for x86 and ARM cores. "A lot of people try to do completely new things - try to boil the ocean - and they mess that up," Keller suggested, contrasting AMD's gradual approach as it builds up to developing its own ARM chips for 2016 and beyond.
AMD has demonstrated its Seattle ARM-based 64-bit server chips for the first time, insisting that the days of x86 dominating the data center are numbered as it outlined "Project Skybridge" on the 2015 roadmap and beyond. Seattle, announced last year and shipping from earlier in 2014, eschews the usual x86 architecture for 64-bit ARM Cortex-A57 cores, capable of delivering streaming video, crunching big data, and hosting cloud services despite using a fraction of the usual power.
AMD has outed its latest 2014 Mainstream and Low-Power mobile APUs, its combination processor and graphics chipsets for notebooks and ultraportables, and for the first time baking in an ARM chip to handle dedicated security duties. The new SoCs - formerly known as Beema and Mullins - promise not only the usual cut in power consumption as well as a bump in both graphics and processing power, but Android app support on Windows using BlueStacks.
Though the NVIDIA Tegra 4i won’t necessarily push privacy on its own, the Blackphone delivered with said SoC will be all the more powerful for it. NVIDIA and the combined venture of Silent Circle and Geeksphone behind Blackphone have made clear that they’ll be bringing the Blackphone to the market with no less than NVIDIA’s most powerful smartphone-based mobile processor to date.
This week AMD plays their biggest GPU hand to date with the Radeon R9 295X2. This is a highest-end Dual GPU running with 28nm process technology and 12.4 billion transistors. You’ll be rolling with a highest-tier number of stream processors in this beast with a whopping 5,632, while compute power rings in at 11.5 TFLOPS.


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It’s hard not to respect the work of Unilever’s chief executive Paul Polman. His determination to make the company, which manufactures everything from Marmite to Dove soap and Persil detergent, more sustainable is nothing if not bold. Since landing the top job in 2009 the former Nestle exec, who once trained as a priest, has introduced the Unilever Sustainable Living Plan; a comprehensive programme that goes way beyond the hat-tip most businesses give to CSR.
As well as reducing the company’s impact on the environment, the plan commits Unilever to improving nutrition, making business more inclusive and diverse and improving the world’s hygiene. It’s easy to write this off as just a wall of greenwash, but in a survey of sustainability experts last year, almost one in three said that Unilever was the leader in integrating sustainability into its business – far and away above any other company.
The real question is whether Polman can continue to convince investors of its feasibility in the long term. Today Unilever announced 2014 was its worst year of sales growth in years. Total turnover dipped 2.7% and underlying sales were up 2.9% - lower than the 3.1% analysts were expecting. This was partly down to slowing growth in emerging markets, where Unilever sells more than half of its wares.
Despite the low growth, net profits were up 5%, thanks to a cost-cutting drive. Unilever sold its Slimfast, Ragu and Bertolli brands and cut 1,400 jobs last year. Polman says he expects growth to be challenging in 2015 as well, so cuts are likely to continue (no sainthood for him then). There are rumours it could consider offloading its poorly performing margarine division, although Unilever denies this.
Polman is giving no hints his mission could be under threat. ‘The Unilever Sustainable Living Plan continues to underpin all aspects of our business model from the way we source materials through to our product innovations,’ he said.
‘Our activities enhance our reputation and corporate brand. They are well recognised and an important way of reducing cost and risk in increasingly well-informed and challenging societies.’
That’s all well and good, but what do investors think? Today shares dipped as low as 2,661p, but have since rallied to 2,699.5p, 1% down on yesterday’s close. Polman’s probably safe for now, but he will need to demonstrate the long-term value of the sustainability plan to keep shareholders happy.


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Friday Funding Roundup
Tango Networks: Stealthy Richardson, Texas-based fixed/mobile convergence startup Tango Networks Inc. completed its first funding round, totaling $25 million, this week. Investors include Motorola Ventures , Nortel Networks Ltd. , Signature Capital LLC , TWJ Capital LLC , and Meridian Capital Ltd.
The company has been operating in stealth mode since 2005 while it completed development of the technology behind its Abrazo system. The company is calling its platform a "hybrid architecture" that can support both legacy and IP PBXs. Tango Networks will formally launch the Abrazo in late March at the CTIA Wireless 2007 conference in Orlando, Fla. The Tango Abrazo enables users to be reached on either their mobile or desk phones with a single number and unified voicemail. In addition, users have access to "desk phone features" such as conference calling, call transfer, and other advanced features from their mobile phones.
Meraki Networks: The "consumer wireless mesh" startup Meraki Networks Inc. says it completed its first round of funding this week. The Mountain View, Calif.-based company, which was spun out in 2006 from work done at Massachusetts Institute of Technology (MIT) , has raised $5 million in a series A round led by Sequoia Capital .
As well as the influential venture capital firm, Meraki has already received small investments from Google (Nasdaq: GOOG) and other Silicon Valley angels. The startup is probably best known for its work with Google, which has been testing the firm's routers for indoor coverage at its Mountain View mesh network.
Bolstering indoor coverage isn't really the name of Meraki's game, however -- the firm was founded to make it cheap and easy to set up WiFi mesh networks in homes, apartments, and even entire communities. The firm will soon start selling the $49 Meraki Mini 802.11b/g router off its Website to facilitate this aim.
The company claims that in its beta program it has already unwired "more than 15,000 users in 25 countries around the world."
Beceem Communications: Lastly, the Santa Clara, Calif., mobile WiMax chipset vendor Beceem Communications Inc. grabbed a massive $40 million series D round, bringing its total funding to over $90 million. The firm is working on chipsets in anticipation of wireless broadband rollouts in the second half of this year. (See Beceem Gets $40M for more details.)
— Dan Jones, Site Editor, Unstrung


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The Economics of Pod Living, ‘A Social Network Come to Life’
Is it worth $1,800 a month to live in a glorified youth hostel?
Uber Drivers Really Want You to Use the New Tip Feature
Today is the first full day that Uber’s new tipping feature will be enabled across the nation. After a trip is completed, passengers will be…
Why Uber is a Net Benefit to the Economy
A new study has the potential to shift the policy debate about Uber away from labor issues and toward consumer benefit


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The Saudi Allied Sugar Company intends to expand its white sugar production capacity by 50 percent July 2002. The factory’s white sugar output currently stands at 500,000 tons per annum, and it is intended that with the project’s completion, this capacity will reach 765,000 tons annually, Reported Al-Jazirah.
Company Director General Mohammed Ajlan said that the expansion project aims to satisfy the three percent per annum increase in demand for white sugar. Since opening the refinery in August 1997, the Allied Sugar Company produced and refined more than two million tons of white sugar, which is translated into 40 million 50-kilogram bags.
Ajlan added that the price per 50-kilogram sack of sugar decreased by four SR in the last two weeks, a six percent price fall. The price per sack fell from SR 66 ($17.6) to SR 62 ($16.5). In the past few weeks, international crude sugar prices declined noticeably, reported Al-Hayat. — (Mena Report)
© 2001 Mena Report (www.menareport.com )


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Ho Chi Minh City’s Department of Agriculture and Rural Development has launched a pilot program on raising crocodiles for skin export at a farm in Cu Chi District.
Some 2,000 crocodiles of pure freshwater breeds will be raised at Ton Phat Crocodile Farm. Presently, popular breeds are a mixture of freshwater and saltwater crocodiles.
Besides, for commercial crocodile farming, the animals must be raised separately from one another and provided with clean water periodically, said Le Minh Dung, deputy director of the department.
The program is aimed at improving the quality of crocodile skins so that they can meet required standards to be exported to Japan and European nations.
HCMC is now home to some 170,000 crocodiles being raised in 39 hectares of specialized farms for commercial purposes.


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Do you have the face that could launch a thousand outdoor trips?
Leading outdoor brand Berghaus is on the lookout for members of the public to model its products in a variety of locations across the UK.
The Sunderland-based company is seeking hikers, climbers and other outdoor enthusiasts to put the latest Berghaus gear through its paces in a series of photoshoots that will take place this year.
The brand is recruiting a bank of people who it can call on to appear during shoots starting next month.
Berghaus has planned its first photoshoot of 2017 for the end of March and will hold a casting session earlier the same month. Successful candidates will need to be available for one to two days during the period of a photoshoot and be expected to participate in some of the outdoor activities that they love.
A spokesperson said: “All they need to do is turn up. Berghaus will provide payment, accommodation and kit.
“Images taken during the photoshoots will feature in Berghaus’s trade and consumer marketing campaigns, reaching millions of people. The brand will also use material provided by its team of sponsored athletes, including Leo Houlding, Mick Fowler, Angelika Rainer, Molly Thompson-Smith and Sir Chris Bonington.”
Anyone who is interested in featuring in Berghaus photoshoots should send an email with a couple of photos and personal details.
Selfies will be considered and the company is particularly keen to receive outdoor action images. Berghaus said it does need to be able to see faces clearly, so submissions with glasses or goggles should be avoided.
Anyone interested should send the following information:
- Email address
- Phone number
- The town or city where they live
- Usual clothing size for tops and jackets
- Chest size
- Waist size
- Leg length
- Shoe size
- Outdoor activities they regularly take part in.
More details are on the Berghaus website.


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Flash News: OKX to optimize funding rate calculation
SINGAPORE, Jan. 27, 2024 (GLOBE NEWSWIRE) — OKX, a leading Web3 technology company, today announced an upgrade to the way funding rates are calculated on perpetual swap contracts on the OKX trading platform.
The new funding rate calculation mechanism utilizes a combination of historical funding rates and current premium indexes to provide improved stability during periods of market volatility. The optimized formula aims to offer a balanced, sustainable funding rate environment for traders.
The recalibrated funding rate calculation applies to all new perpetual swap contracts opened on OKX. Existing perpetual swaps will not be affected. OKX will continue monitoring funding rate performance to ensure optimal alignment with market conditions.
To learn more about the calculations, visit OKX.
For further information, please contact:
A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:
- OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
- DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.
- NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
- Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.
OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.
As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.
To learn more about OKX, download our app or visit: okx.com


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Author: Sameer Pagnis, President, Global Automotive, TE Connectivity
I believe that every crisis presents an opportunity. At the peak of the pandemic, we saw factories shutter and supply chains stall. It was a blindside, but we found silver linings. In the past year, we witnessed the wonder of the natural world healing, the adoption of five years’ worth of consumer and business digital innovation in just the first two months of the pandemic, and companies continuing to innovate amid crisis.
Fast forward and ask: Where has the past year brought us, technologically and culturally? Early in the pandemic, conventional wisdom held that sustainable initiatives like electrification might take a back seat to immediate, short-term economic priorities. But in reality, we’ve witnessed continued adoption of electric powertrains, spurred by a combination of regulatory action and a swift rebound in retail sales. In fact, sales of electric cars actually rose by 43% overall last year, and at TE, we saw a 12% increase in electric car manufacturing among our customers despite the economic challenges we faced.
As the President of Global Automotive for TE Connectivity, a global leader in connectivity and hybrid electric mobility solutions (HEMS), I can say with confidence that COVID-19 has reinforced an already-growing market conviction in electric vehicles (EVs) as the future of automaking. Despite the disruptions brought on by COVID-19, we are on the verge of significant acceleration in this industry.
The signals from the market have never been clearer. The bet is safe, and the time is now.
We are currently crossing the bridge somewhere between a predominantly internal combustion engine (ICE) fleet and a predominantly electric fleet. No one knows exactly how long this bridge will be—especially when you consider the uneven pace of change by region in the global market—but I can say definitively that that bridge is getting shorter, fast.
The key reason for this is that—for the first time—policy, consumer demand, and technology are now converging, leading us to what is looking like a sharp “S-curve” of adoption in the years to come.
Until just recently, the transition to EVs felt like an uncertain bet to many, or perhaps something off in the distance. Policies were burdensome to OEMs, technology was expensive, revenue returns were low, and consumer sentiment toward EVs was lukewarm.
Today, we are seeing a significant mindset shift in our customers. Across the board, they are investing in EVs, diverting their future plans away from ICE vehicles, and making groundbreaking public financial commitments to electrification.
In conversations with customers, whether its Volkswagen, GM, BMW, Geely Group, and others, the message is the same: The signals from the market have never been clearer. The bet is safe, and the time is now.
With regulators, consumers, and OEMs all aligned, the speed of this transition will only accelerate. Today, EVs are on the cusp of accounting for around 10% of total global auto production. But considering that we anticipate a 50% year-over-year increase in EVs next year alone and consistent double-digit annual increases over the next decade, the potential pace of change in EV adoption is staggering.
But OEMs cannot chart this path alone. With so much to do and so little time to do it, OEMs need strategic partners who bring an innovative mindset, a deep understanding of their challenges and opportunities, solutions to obstacles, and confidence in the long-term potential of EV technology. Suppliers must deliver products and expertise in a nimble and agile way, in concert with fast-moving research and development taking place with OEMs.
TE is already supporting customers through this transition. Over the past decade, we have steadfastly built a diverse portfolio of products and—critically—capabilities that differentiate us from the competition. We are ready for this exciting challenge with a diverse, flexible portfolio of connectivity solutions and deep bench of engineering experts who are co-creating solutions with our customers.
This long-awaited and dynamic inflection point in the automotive industry is due, in large part, to the innovations happening at the connector level. Research and development happening behind the scenes over the past decade has gotten us to a place where mass adoption of EVs is not only possible—it’s happening.
Take, for example, how connectivity solutions are already addressing a major concern in EV adoption worldwide: range anxiety. One consideration is the energy density of the battery. OEMs need flexible connectivity solutions to connect cells and modules so that they can advance their platforms without having to make continued investments in re-adapting their engineering processes to contend with regulation and rapidly changing consumer sentiment. Connectivity solves that. For example, Chinese EV startup NIO Inc., a TE customer, created a battery that can last up to 1000 kilometers on a single charge.
However, range anxiety isn’t simply about battery density. Efficient power distribution from the charging inlet to the battery to the e-motor, as well as thermal management, are significant factors where connectivity plays a key role. TE is addressing this with our high-power charging (HPC) inlet solution. HPC can involve 350kW of DC charging power at currents of up to 500 amps, which represents the highest load state for the entire electrical system in an EV. Facilitating a peak load of 350 kW charging power requires a different approach to designing the electrical components. We are developing a new methodology that can dynamically determine the temperature increase caused by components and the heat dissipation in the system at all times.
TE’s automotive division leaders have invested significantly in anticipation of this moment. We simulate our products’ ability to thrive in harsh environments and have rigorously tested our solutions in situations of high thermal stress. This testing instills confidence in our solutions and allows our OEM customers to dream even bigger when it comes to designing and commercializing the world’s next innovative EV technology. With one of the widest portfolios of products in the market today, we are enabling electrification and allowing customers to innovate new applications and products, all at unmatched breadth and scale.
At TE, we pride ourselves on innovating alongside our customers. We understand the unique challenges of OEMs today, including tight budgets and even tighter timelines—that don’t allow for re-engineering vehicles in perpetuity. Companies have to make decisions about where to dedicate resources. We are global in scale, and architecture agnostic, meaning that—unlike other suppliers in the space—we have a unique flexibility to create bespoke solutions that directly match customer needs.
Now, with the automotive industry at a historic inflection point, our differentiated approach is paying dividends. TE Connectivity’s global scale and commitment to truly strategic partnerships enable us to capitalize on the step change toward an electric future.
If you are an investor interested in more information about TE Connectivity, please email our Investor Relations team.
Sameer Pagnis is president of TE’s global automotive business. He is responsible for the auto team’s productivity, quality, portfolio management, global pricing and new go-to-market strategies. Sameer has been with TE for 20 years and previously led our Automotive Americas organization, served as TE’s Chief Strategy Officer, and General Manager for our Industrial & Commercial Transportation and Application Tooling businesses.
Executive Insights: More Stories in this Series


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The online retail market will see over 30 per cent growth per annum till 2021, driven by the millennials, said a report. Since 2010, the share of online retail in total retail market has grown at a rapid pace to reach 3 per cent in 2015, Deloitte noted in a report.
Currently, Xiaomi has 23 Mi-Home stores across seven cities, but these are owned by franchisees (and managed by the company).
Retailers are increasingly looking to deploy AI, mobile apps, chatbots, predictive analytics and interactive in-store kiosks to achieve better customer interaction.
Future Group has three things going for it a successful offline retail model that combines food and non-food profitably, the largest retail footprint across India, and its strength in apparel, general merchandise, luggage and footwear.
Artificial intelligence has stepped out of technology firms and is permeating sales, services related tasks at banks, insurance, FMCG, pharma, retail & other cos.
In an interview with ETCIO, Shiva Chinnasamy, Director – Engineering & Technology at Tesco Bengaluru explains how Tesco Bengaluru is driving the innovation agenda for UK’s largest retailer.
The in-store solution is powered by Manthan’s TargetOne personalized marketing engine and is delivered to customers through the retailer’s mobile app
Earlier this year, Cisco had launched 'Start' to offer a new set of solutions to help clients go digital with wireless, secure connectivity for as less as USD 70 per user per year.
Two senior industry executives said the company wants to tap 92% of the untapped market since it cannot achieve faster growth by just betting on the consumer-facing retail business.
Future Group will deploy Intellect Commerce’s iRetail Business Suite to transform its retail management services across EBOs and FMCG outlets
According to Experian, a national ID is a double-edged sword because, if breached, it can result in increased fraud cases. “As such, it is important to understand how national IDs can be enhanced to counter fraud based on the state of usage and accountability for each country,” the report said.
The internal target at Reliance Retail is to overtake current ecommerce leaders by 2020-21, three senior industry executives told ET.
The stores will be tagged ‘Motorola preferred partners’ under the project, mirroring a similar offline retail strategy that helped rival Xiaomi rapidly gain market share in India and close the gap with leader Samsung.
One97, the holding company that started Paytm, has been diversifying for a while experimenting with retail e-commerce and movie and travel ticket bookings.
Future Group’s Kishore Biyani plans to launch a new digital strategy ushering what he calls Retail 3.0, which will blend technology with brick and mortar retail.
The Seattle-based firm is the first global company to seek and get government nod to sell food made and packaged in India directly to consumers.
Telecom is truly in turmoil now. Analysts said smaller telcos will continue to face the heat while larger ones will run an extremely tight ship to sustain.


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ORLANDO, Fla. — A Toronto-area International sales rep was a finalist in the recent International Truck Customer Solutions Rodeo.
John White of Western Toronto International Trucks, was among six International brand truck dealer sales reps that competed in the North America-wide competition.
They were tested on their knowledge of International brand trucks and Navistar’s OnCommand customer service offerings. The grand winner was Phil Johnston of Selking International in Fort Wayne, Ind.
“More than 700 sales folks from across the United States and Canada completed the required Navistar Education training courses to qualify,” said Tom Abbott, manager, dealer education for Navistar. “That kind of commitment sends a clear message that International dealers are recognizing the benefits of offering customers a level of service that goes beyond the truck.”
Leading up to the final event, contestants were judged on walk-around presentations and scored on how they explained product features and their ability to relate the features to specific customer issues such as appearance, serviceability, driver acceptance and safety.
Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry. All posts by Truck News


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Nokia's newly revealed Lumia smartphones, based on Windows Phone 7.5, will be getting some gaming support from Electronic Arts. PCWorld.com reports that during Nokia World this week, Electronic Arts announced it would provide some exclusive games for Lumia owners to download and play.
EA will provide 20 games for the Nokia Lumia; 10 from its EA Mobile division (including titles like FIFA 12, Madden NFL and Dead Space) and another 10 from its indie games division Chillingo. There's no word yet on when these games will be released for Nokia's Windows Phone 7 devices. There's also no word if these games would eventually be released for any other Windows Phone 7-based phones.
Microsoft has been trying to get app developers to create programs for Windows Phone 7 but some have been reluctant to do so, mainly because of the lack of market penetration for Windows Phone 7-based phones compared to iOS and Android products. The fact that EA offering to create and sell a large number of its mobile phone games on the Nokia phones may signal a change in attitude towards the operating system among app developers.
In the meantime Nokia is still preparing to release the Lumia 710 and Lumia 800 smartphones to the UK and other parts of Europe later in November. Will the attraction of EA's games, along with other exclusive apps from ESPN and, yes, even Sesame Street, be enough for consumers to consider getting the phones ahead of the iPhone 4S or the various Android phones? We should certainly learn more in the next month.
Image via PCMag.com


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DALLAS — Buyers scooped up leather and fur styles, and items embellished with textural details, sequins and ruffles at the four-day market that ended Sunday at the Dallas Market Center.
They also responded to abstract prints, military jackets, flirty skirts and layered knits. Career-oriented stores welcomed the return of classic bouclé and four-pocket jackets, some with jeweled buttons or sparkling threads that evoked the Eighties.
Retailers reported wildly disparate results for the first three months of the year. Some enthused about sales gains, but others complained that persistent cold weather and unusual snowfalls in the South delayed spring selling. They were cautious and buying close to need, with many concentrating on deliveries from April through June or July. Budgets ranged from down slightly to up 10 percent.
Sales representatives said they saw signs that business was improving.
“We were way ahead both on appointments and business writing, which speaks poorly of last year and well of this year,” said Scott Harner, who represents lines such as AG Adriano Goldschmied, Big Star and Desigual.
Margaret Byers, bridge and designer buyer for Julian Gold, which has four stores in Texas, said, “Bridge is doing OK for me and I have a lot of growth in designer. We’re doing well with Escada, Weill, Jon. My customers want items, whether it’s a jacket, skirt or pants.”
Byers increased her fall order of Lafayette 148, selecting a reversible black leather and astrakhan jacket.
“We are doing a lot of leather for sure, as well as ruffles, color, details and detachable fur trims,” Byers said.
Shelby Burkett, owner of Mary V’s in Tyler, Tex., wrote her first order for Nougat London, picking a bisque mohair sweater with scattered sequins and a mocha embroidered ribbon-striped flirty skirt. She also was enthusiastic about Kelli Kouri’s gray fox and suede vest.
“I am tweaking my fall buy to try to get something new and fresh,” Burkett said. “I am buying more dressier things, fewer expensive things and a wider range of price points.”
Karan Dannenberg said her fall budget was up 10 percent as she selected Finley’s slate blue asymmetric zip suede shirt jacket for her namesake store in Seattle.
“Business has really picked up from the fourth quarter on,” Dannenberg said. “I’m on a mission for mother-of-the-bride dresses — it’s a tough category to fill. I love Xeniya gowns with shrugs and short jackets, and Marisa Baratelli. And the new Dress to Kill ombré ruffled cashmere sweaters are beautiful.”
Debbie Kellum, owner of Ashlin’s in Grapevine, Tex., picked up June deliveries of Language, including a turquoise and chocolate floral print V-neck tunic with a raglan sleeve, as well as dresses by Alberto Makali and Eva Franco, and colorful novelty tops by Johnny Was.
“I’m cutting back,” she said. “We had such bad weather this year so that set me back a little bit. I’m being more conservative.”
Kellum plans to boost business with events, like an upcoming earth-themed day promoting florals in fashion and tabletop, along with fresh flowers.
Marla Ross, owner of Adelante in San Antonio, said she sought summer deliveries of clothes that “feel like pajamas but look incredible,” like a scarf-print silk dress with a dramatic handkerchief hemline by Johnny Was. Ross also liked embroidered Biya shirts and colorful printed knit tops by Desigual.
“I’m not ready for fall,” she said. “I’m waiting to see what color palettes and fabrics my customers are loving before I go into muddy charcoal.”
Double D Ranch, which specializes in Western and hippie-chic fashion, served frozen margaritas and a Tex-Mex buffet to celebrate its 20th anniversary.
“It was our best spring-summer [season] in 20 years,” said Cheryl McMullen, designer at the family business in Yoakum, Tex. “They loved the color.”
She took inspiration from Talitha Getty’s bohemian jet-set style for her fall collection that features a cotton poplin military jacket embellished with kitschy travel patches.
Cindy Morris, chief operating officer at the Dallas Market Center, said, “The recent market sealed a complete year of attendance increases for FashionCenterDallas.”
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye
Did you know: @carlychaikin of "Mr. Robot" has been painting for about a decade? The actress, who plays Darlene on the show, is a self-taught artist who lists Salvador Dalí and Chuck Close as some of her idols. Chaikin told WWD that painting is a form of meditation for her — A much-needed one given the intensity of "Mr. Robot." See a piece Chaikin is working on at WWD.com (📷: @jilliansollazzo) #wwdeye


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The car industry is getting used to living with uncertainty. To the stoppage of business due to Covid, which closed the dealerships, the microchip crisis and problems in the supply chain have been added. Nissan, the Japanese car manufacturer, expects the Spanish market to recover this year, although it will not return to normal until next year.
Its manager in Spain, Bruno Mattucci -general director of Nissan Iberia- explains that automobile companies do not make money from the sale of electric cars, although, in his case, he assures that they do not lose it either. He also acknowledges that the closure of the Barcelona factory had an impact on his local sales, although Catalonia is now his best market, by volume of sales, in all of Spain.
The coronavirus crisis and the problems with microchips have led to a difficult situation for car manufacturers. How do you see the Spanish market?
The year 2021 was impacted by the Covid and then by the problems in the supply chain and the semiconductors. The market is below one million cars sold, which we believe is the minimum there can be in Spain. In 2022, the situation will improve, especially in the second half of the year, but to return to the normalized production level we have to wait until 2023. We, at Nissan, are checking all component suppliers. We see that some can already recover 100% of their production and others are at 60% or 70%. And we are adapting our range of models, to make versions of cars that can use components from suppliers that are already 100% complete. In this way, we can increase production.
Where are the problems now? In the microchips?
Yes, basically in the suppliers of electronic components, such as screens or electronic units. It is the most critical issue, the electronic components.
At the end of 2021, problems began with freight, with maritime transport. Is the situation normalizing there?
Yes, it is normalizing but we have to see the effect of the new crisis, the war in Ukraine. We do not know what the impact may be, but it is clear that we are entering a complicated context, where the cost of raw materials is going to rise, the cost of energy will rise and the logistics, too. And all of this has an impact because the expectation is of inflation in our market and we know that when prices rise, demand has a negative impact.
And how much can the price of cars go up?
Inflation in our sector has been around 4.5%. I think this year we will be at a similar level.
There are already car manufacturers, such as Volkswagen, that have announced that they will stop producing and marketing cars in Russia. Has Nissan made any decision?
No, at the moment there is no decision made. Nissan's latest announcement is that we are assessing the situation to see what to do.
But they make in St. Petersburg
Yes. We have a factory in St. Petersburg and we have a sales unit in Russia, but for now there is no decision. If it is taken, it would have no effect for Europe because it is a plant that only manufactures for the Russian market.
In this situation, with the problems due to the lack of components. If I now go to a dealership to buy a car... How long does it take to deliver it?
We have an average delivery time of four months, but it depends, because we have focused production on the versions that can be manufactured. If a customer is looking for a version that is among the ones we have produced, we can deliver the car in a month and a half or two months. In the most equipped versions, the waiting time is around five months. The goal is to produce the versions where the providers can help us. But we are optimistic. Normalcy is not achieved in a day.
In recent months, advertising by car manufacturers on television, which are usually among the largest advertisers, has fallen. Will it recover again?
We are a company that at the end of the year has to look at the income statement and, if we don't have cars and we can't invoice, it is clear that we don't have the possibility of investing as in the past. The moment we return to a normalized situation, the brands will invest again. It is a vital investment, to make customers aware of the brand and products. We cannot live without advertising and the automobile sector anymore, because we live on novelty. A brand is successful if it has the ability to develop novelties. And the novelty has to be communicated.
The development of the sector is in electrification, in electric cars. How do you see this process?
All brands are working on a future where 100% of cars are electric. There we have been pioneers, because 12 years ago we launched the Nissan Leaf, the first 100% electric car for the masses. The issue is how to manage the transition. Today there are electrified, gasoline, diesel and hybrid cars on the market and the challenge is that, in 2035, only electric cars will be sold. 2035 is very close, it's been 13 years and we have to change people's culture. Today the demand for electric cars in Spain is 5%. Only 5 out of 100 people buy an electric car, you have to move the remaining 95% and it's not easy. For our part, we have to increase the capacity to produce electric cars and we are making a massive investment in England. But this is not enough, we have to develop a recharging infrastructure, otherwise it is impossible. And in Spain we are late, much more than other European countries.
Spain needs to install about 36,000 chargers a year to meet the goal of reaching 340,000 in 2030. Do you think we are doing well?
If we continue with the speed we have now, no. It is a mathematical calculation, if we project what we are doing now in the 12 years to come, we will not fulfill it. We have to accelerate the development of the recharging infrastructure and also communication to make customers change the chip, so they understand the advantages of moving to the electric car. What do you see today? Where can I upload it? They do not know. And they look at the price, which is higher. And those are two issues where we have to work with the Administration. We have done the most. Today, no car company is making money from electric vehicles, none. Some lose.
Does Nissan make or lose money on electric cars?
We are in 'break even' [ni pierden, ni ganan]. We are a house that started in 2010 with the electric ones, we have a history; but I am convinced that the companies that are now starting to sell electrics are losing money.
And as for the recharging structure, who has to provide the chargers, the Administration, the electric companies?
You have to look at the countries that have developed electric mobility the most. They have done two things. First, develop the reload structure. Then, help customers to move to the electric car by giving them advantages, such as reduced taxes, that they can park without paying, that they can enter the city center without problems. They are measures for which a consumer says "I pay a little more but I have a whole series of advantages". That works. There are plans here, like Moves, but some communities applied it late, dealers were also unclear on how it worked. And then, in a community you have some rules; in another, different ones. It is difficult for us to manage the implementation of a plan when you have a lot of different local rules.
Do they speak with the central administration, with the 17 communities…?
You have to talk to many different administrations. I am Italian and I have lived there too. The political will is clear but administrations should reduce bureaucracy, simplify it. It is already difficult for a citizen to move to an electric car, because he is used to a mobility model that is different. He doesn't have the problem of where the gas station is, where the workshop is. If more complications are introduced later, it is very difficult to develop electric mobility.
With skyrocketing electricity prices, is there more reluctance when buying an electric?
No. If we look at the pure electric sales data, they are going up. It has gone from 3% at the beginning of 2021 to exceeding 5% in December. But you have to speed up. It is true that we have the problem of the rise in the cost of energy and that the electric vehicle today has a higher cost, but we have to go to a new model of electric mobility. We can think of a car not just as a vehicle, but as a store of energy. The car is charged, parked, connected to the network and provides energy. In Holland or England, with the Leaf it is already being used. There are drivers who have contracts to rent their car batteries to electric companies and earn 800 or 1,000 euros a year. Here the 'Vehicle-to-Grid' can be done, technically it is very simple, but it is a political issue.
Currently, which are the countries where the electric car is most developed?
Norway, where electrics are 75%. Then England, which is 12%, and Germany and France, which are above 10%. Italy and Spain are at the tail.
So if I had to bet. Will the goal of stopping selling combustion cars be met by 2035?
It is very difficult. What I see as impossible is the other objective, which is 100% of the park in 2050. That is mathematically impossible. We are in 2022, we are 28 years old. A million cars a year are sold here and we have a fleet of 30 million cars. If tomorrow morning we start selling only electricity, we need at least 30 years to have the entire electricity fleet. And we are not going to start selling only electric cars tomorrow.
And when does Nissan consider selling only electric?
For us, 2030 is the year in which we would like to sell only electric cars, but we also have to look at customers and markets. If in Spain, in 2035, customers ask for a gasoline car, we have to produce it. We are connected to what the demand says, the market, and if we don't work on changing the consumer chip, it will be difficult.
Speaking of the consumer chip, Nissan has been in the news in the last year due to the closure of the Barcelona factory. Has consumer perception of the brand changed? Is it perceived differently?
At the beginning, yes. Unfortunately, consumers understood that Nissan was going to leave Spain. What was being talked about was the closure of a plant in a global context of reorganization of Nissan's production.
But it was the only car factory in Spain
We have many countries where we don't have plants, but we sell cars. Unfortunately, the closure was understood as the cessation of Nissan's activity in Spain. Then, we work on communication with the dealers. We explained that we are going to close a plant, which is a shame, but Nissan's commercial operations in Spain, in Europe, remain. And we have a product development plan that we have never seen in the past. Nissan continues to invest in Europe, which is one of the most important markets for the company, and Spain, too. With the Barcelona Show, where we present our products and our plans, we have begun to recover. And now Catalonia is where we have the best sales results in all of Spain
What weight does Spain have for Nissan?
It is his second country in Europe, behind England. It is one of the most important markets.
Do you consider having more factories here?
I can't decide there, that's on another level, in Japan.
And how does the Spanish consumer see Nissan?
We are more or less in what we call 'mainstream'. We are recognized as the ones who invented the 'crossover', the leader of the medium 'crossover', but we have to enrich the logo with brand values, because we have an idea of the future that is more modern than most. For example, we have a program to give batteries a second life, circular economy plans. We have plans that we have not told consumers and they do not see added value in Nissan. That is a challenge that we have in the future.