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Australia’s regional, rural and remote communities from next year will have improved access to state-of-the-art mobile phone satellite technology, after leading US telecommunications firm Globalstar, Inc completed a financing deal of more than AU$912.58 million to fully fund the deployment of its new generation 2.0 satellite network, in association with Pivotel .
Marketed in Australia by Pivotel Group, Globalstar, Inc confirmed it had secured US$738 million (AU$912.58) in financing to fund its all IP based generation 2.0 network and ground facilities.
The financing will also help accelerate the delivery of additional second-generation spare satellites and provide further working capital to the company, in order to maintain its position as a leading world provider of mobile satellite voice and data services.
This announcement ensures Pivotel Globalstar customers across Australia – from the most remote mines and isolated farms– are given unprecedented access to the latest in mobile phone satellite, Internet and tracking technology. City based travellers journeying into regional Australia will also soon have access to a low latency, high speed mobile broadband service.
In addition to standard voice and high speed data, Globalstar expects its generation 2.0 service to include advanced wireless services and is evaluating such features as push to talk and multicasting, advanced messaging capabilities such as multimedia messaging or MMS, mobile video applications, geo-location services, multiband and multi-mode handsets, and data devices with GPS integration.
To support these new services Pivotel’s Globalstar ground infrastructure will need to be upgraded to support a full IP switching and backbone network. According to Mr Bolger a substantial multi-million dollar investment will be required to upgrade its three Australian gateways located in Dubbo, NSW, Mt Isa in QLD and Meekatharra in WA.
Pivotel’s Globalstar customers would be able to use their existing Globalstar handsets and maintain their mobile phone numbers, on the new generation 2.0 satellites, meaning that Pivotel has led the way in introducing affordable mobile satellite services in Australia and contrary to popular belief, satellite phone call costs were now comparable with regular mobile phone charges. Pivotel’s unique use of standard mobile phone numbers means the cost to call a Pivotel satellite phone is the same as calling any other mobile phone.
The technology has been made even more affordable with the Australian Government’s Satellite Phone Subsidy Scheme – which was recently extended until June 2013 –subsidising the cost of handsets by up to 85 per cent or $1,000, representing real savings and putting satellite phone access within reach of the average person.
Globalstar expects to begin taking delivery of the new satellites in 2009 and plans to complete launching of the new constellation in 2010..
Once complete, the future really is virtually unlimited for the new Globalstar generation 2.0 service. Globalstar can provide a high quality, high bandwidth, low latency broadband data service to remote homes and businesses anywhere across Australia, working with the Commonwealth Government to secure a role for Globalstar in the delivery of high speed data services as part of the new National Broadband Network.


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Jay Z has remixed “Jungle” for a special cut of the popular Beats by Dre “The Game Before The Game” ad which made its world premiere during game five of the NBA Finals between the San Antonio Spurs and the Miami Heat on Sunday, June 15th.
“Jungle” is a collaboration by X Ambassadors and Jamie N Commons. The song has been climbing the iTunes charts since debuting in the Beats By Dre commercial last week. The Beats By Dre “The Game Before The Game” five minute film has garnered over 10 million views to date and features the world’s top footballers, music stars and athletes and their pre-game rituals.
The track will be available for one week exclusively for Beats Music subscribers.
Author: Buddy Iahn
Buddy Iahn founded The Music Universe when he decided to juxtapose his love of web design and music. As a lifelong drummer, he decided to take a hiatus from playing music to report it. The website began as a fun project in 2013 to one of the top independent news sites.

domain: news


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John Boyega has stepped down as Jo Malone London’s brand ambassador.
The Star Wars actor, who has been a Jo Malone Gent since July 2019, called the company out this week for cutting him out of a video ad without his knowledge. As it goes, Boyega had originally appeared in an advert released in China but was taken aback to discover he’d been replaced by a Chinese model instead.
Taking to Twitter to announce his departure, Boyega said the company’s decision to remove him from the campaign without “my consent or prior notice” was "wrong."
"Their decision to replace my campaign in China by using my concepts and substituting a local brand ambassador for me, without either my consent or prior notice, was wrong,” Boyega tweeted Monday (September 14). “The film celebrated my personal story– showcasing my hometown, including my friends and featuring my family."
Boyega, who starred in, directed and conceived the London Gent visual as the brand’s first male ambassador, drew inspiration from moments of his own childhood and family for the visual campaign, which includes moments of him with loved ones and shots of his hometown of Peckham. (It even won Best Media Campaign at the 2020 Fragrance Foundation Virtual Awards.)
With that, it’s understandable why Boyega felt slighted by the company’s choice to repackage his vision with a narrative seemingly designed to appeal to Chinese audiences, including swapping him out with Chinese actor Liu. The brand, who described the edit as a “misstep,” has since apologized to Boyega in a statement to The Hollywood Reporter.
"We deeply apologize for what, on our end, was a mistake in the local execution of the John Boyega campaign," Jo Malone London told THR. "John is a tremendous artist with great personal vision and direction. The concept for the film was based on John’s personal experiences and should not have been replicated."
“We respect John, and support our partners and fans globally,” the company added. “We are taking this misstep very seriously and we are working together as a brand to do better moving forward.”
Apologies aside, the dust is far from being settled. See how some Twitter users are responding below.
Photo: Getty Images


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Gymboree Corp., the San Francisco children's clothing retailer, agreed to be bought by Bain Capital LLC for about $1.8 billion, giving the buyout firm a business whose free cash flow has tripled since 2008.
The acquisition price is $65.40 a share, the companies said Monday in a statement. That's 57 percent more than Gymboree's closing price on Sept. 30, when reports of a takeover surfaced. Gymboree may seek acquisition proposals from third parties through Nov. 20, according to the statement.
The purchase is the largest leveraged buyout in the retail apparel sector worldwide over the past three years by more than $1 billion. It gives Bain more than 1,000 stores in countries including Canada and Australia. Gymboree, whose sales growth has slowed for three straight years, also operates Janie and Jack shops and Crazy 8 stores in the United States.
"It's an excellent deal for Gymboree shareholders with a valuation well above what many were expecting," said Lee Giordano, an analyst at Imperial Capital LLC in New York who rates the shares "outperform."
Gymboree rose $11.88, or 22 percent, to $64.83 in Nasdaq Stock Market trading, the biggest one-day gain since April 2009. The shares have climbed 49 percent this year.
Private-equity firms bought 43 retail-apparel companies over the past three years. The average deal size was $175 million with an average premium of 15.7 percent, based on the average closing price of the target for 20 days prior to the deal announcement, according to Bloomberg data. Bain is paying a premium of 45.9 percent on that basis.
Buyout firms pool money from investors to take over companies, financing the purchases mostly with debt, with the intention of selling them later for a profit.
Bain is paying 7.7 times earnings before interest, taxes, depreciation and amortization over 12 months, according to data compiled by Bloomberg. That compares with a median multiple of 7.4 for private-equity acquisitions in the industry over the past three years.
Children's Place Retail Stores Inc. rose as much as 9 percent after the announcement of Gymboree's sale to Bain. The company, whose market value is similar to Gymboree's, generates all its revenue from children's clothing.
Gymboree's annual net income rose to $101.9 million in the year ended Jan. 30, more than triple its profit from 2006. Earnings have grown for five years. The company has no interest-bearing debt and its free cash flow has more than tripled to $137 million since 2008, making it very appealing to private-equity firms, Giordano said. Free cash flow is defined as cash receipts from operating activities minus total capital expenditures.


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In another move that is part of the Intel reshuffling of priorities and personnel, the chip giant has cut a deal with Eicon Networks Corporation, with Eicon acquiring Intels' media and signaling business. The business unit contains roughly 600 employees and Intel said in a press release that it expects most of these employees to become full time employees at Eicon. Intel mentioned that it will continue to work with Eicon.
The media and signaling division at Intel was largely responsible for developing products that deal with voice and video communications, conferencing, VoIP and other IP products. Eicon CEO Nick Jensen said that "Eicon's and Intel's media and signaling products complement each other well. We expect this transition to extend our global reach with solutions for both traditional circuit switch communication technology and leading-edge IP platforms for both enterprises and service providers." According to the press release:
The acquisition is expected to allow Eicon to become a leading player in the media processing and signaling market segment. The sale will enable Intel to focus its investments on its core communications and embedded businesses, including Intel® Architecture and network processors, modular communications platforms and optical modules.
Previously, Intel agreed to sell its XScale division to Marvell for $600 million. The ongoing pattern of layoffs and division sales from Intel stays true to its commitment to refocus on its core competencies and this is important now more so than ever. With AMD and ATI now one company, Intel has a lot more to worry about in areas such as chipsets and portable devices. ATI also has a very strong presence in the home media market.


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Looking forward to another glimpse at the stunning universe of Mass Effect Andromeda? Well a tantalizing amount of content is just days from being shown. Announcing the news on twitter, Bioware stated that they will be unveiling new “environments and gameplay,” during Nvidia’s keynote address at the Consumer Electronics Show, on Wednesday January 4th. The tweet itself reading.
“Ready to see more Mass Effect: Andromeda environments and gameplay? Tune in to @nvidia’s CES keynote next Wednesday: https://nvda.ws/2ismIiN”
The briefing begins at 6:30 PM PT / 9:30 PM ET that day. Mass Effect: Andromeda was announced at E3 in 2015 and then received a cinematic trailer the following year at E3 2016. Our last look at the game was during last month’s Game Awards. Where we came to learn of a myriad of new features.
- Including the new vehicle used to traverse environments, known as the Nomad.
- The new importance of maneuverability within combat (e.g. the combination of jet packs and teleportation)
- The added emphasis on mechanics from Mass Effect 1, such as deeper customization, exploration and scavenging options.
- Bigger, deeper and lusher worlds to explore, with wildlife to be encountered within environments.
- Detective mode like mechanics, as you investigate mysteries within the world.
Mass Effect: Andromeda is scheduled to release in spring of 2017 for Playstation 4, Xbox One and PC. It has been 5 years since the last entry in the series was released and many gamers are eagerly awaiting the moment they can get their hands on this new chapter.


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TV named the worst medium for wall-to-wall Christmas ads
LONDON – Television carries too much Christmas advertising while magazines and radio come out as more balanced, according to a survey of readers of women's weekly and TV listings magazines published by IPC.
The survey, conducted by OMD Insight, found that 92% said TV carries too much advertising during the Christmas season, in contrast to 33% who answered the same for magazines and 20% for radio.
However, this group is less likely to complain that shops start Christmas too early. Before the end of October, 61% start making lists of gifts and, before the end of November, 66% are already shopping for main presents.
Another finding was that 86% of readers bought some Christmas presents in supermarkets last year, with 18% having increased their Christmas spend in supermarkets between 2004 and 2003. They gave convenience and lower cost as reasons for this behaviour.
Out of the supermarkets, Tesco attracted the most spend on Christmas presents, an average of £61.92. The most common presents were CDs, DVDs and video.
Nick Tapley, manager at OMD Insight, said: "Christmas may seem a long way off, but many UK consumers are already starting to plan for their biggest family celebration of the year."
Readers of eight magazines, including Chat, Pick Me Up, TV Times and What's on TV, were surveyed.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum.
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Back then, after the disastrous performance of web series like Gangstars, Amazon Prime Video has decided not to look at Tollywood again as the filmmakers here are not able to generate brand new content. And then, even Netflix has assigned the task of remaking Lust Stories in Telugu but hasn’t given nod for new projects from Telugu circles.
Reports are coming that in recent times, Netflix has changed its opinion on Telugu film industry. This is because of the super success of Ala Vaikunthapurramuloo on their streaming platform. While they have expected that the film will get attention, they haven’t thought that it will stand on Top 1 position for more than a week on Netflix. And then, with Ala Vaikunthapurramuloo turning out to be a blockbuster on Netflix, they are now in plans to acquire more Telugu content.
Whether Netflix will limit itself to buying more films from Tollywood or comes forward to produce aboriginal Telugu content is not known yet, but a leading Telugu producer is said to have made an agreement with them to producer original web series for the platform. His company will be producing couple of original films and series for the world’s leading OTT platform, say insiders.
Telugu audiences are anyway hoping that Telugu industry will also deliver some original and stunning content like Sacred Games, Four More Shots Please and The Family Man for Netflix and also Amazon Prime.


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NEW YORK — Saks Fifth Avenue is expanding its annual charitable drive in an effort to touch more women who are affected by cancer.
This story first appeared in the February 6, 2003 issue of WWD. Subscribe Today.
After partnering with the Council of Fashion Designers of America for four years in its Fashion Targets Breast Cancer initiative, Saks is creating a new initiative with Hollywood’s Entertainment Industry Foundation called Saks Fifth Avenue’s Key to the Cure. It will follow the same format as SFA’s previous four-day shopping events, during which 2 percent of sales through all Saks channels were earmarked for breast cancer charities, but will now be expanded to make donations to local and national women’s cancer organizations that also specialize in ovarian, uterine or cervical cancers.
“Fashion Targets Breast Cancer has been a wonderful vehicle for us to drive contributions to funds for cancer to the tune of more than $9 million,” said Christina Johnson, president and chief executive officer of Saks Fifth Avenue Enterprises.
Saks is also working with Stella McCartney to design a new T-shirt that will be sold to benefit the new fund-raising drive, which will likely be unveiled in Los Angeles around the time of the Academy Awards, when Saks will additionally name a celebrity ambassador for the program. Sales of the original FTBC bull’s-eye logo T-shirt, which was designed by Ralph Lauren, have been a major source of revenue for the CFDA charity.
Peter Arnold, executive director of the CFDA, said the organization would explore other partnerships to maintain an engaging fund-raising effort for the FTBC program.
“We had four great years,” Arnold said. “Cause-related fund-raising is in constant need of new life and new events. We will look for other partners.”
As reported, Anna Wintour, editor in chief of Vogue, said on Monday that Vogue and the CFDA would revive the popular 7th on Sale initiative next year to benefit AIDS and HIV-related charities, an issue that many designers feel has been ignored by the CFDA since it expanded its focus on breast cancer initiatives. Arnold said the CFDA would also continue to create vehicles to promote the FTBC program, now in its ninth year.
Saks, however, plans to greatly expand its women’s cancer-related programming, Johnson said, noting that 80 percent of its customers and workforce are women.
“This is a big opportunity for us because we can expand our giving power to fund really important research that funds not only breast cancer, but all reproductive cancers faced by women,” added Jaqui Lividini, senior vice president of fashion merchandising, communications. “Our original fund-raising drive for women’s cancer was to really target a disease that was foremost on our customers’ minds. Our ability to increase our giving to these other types of cancer research really sticks with that mission.”


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Wyse Technology announced secure high-speed WiFi capabilities and smart card support for its entire V and S classes of thin clients
Dark Reading Staff, Dark Reading
July 23, 2007
2 Min Read
TWYFORD, U.K. -- Wyse Technology, the global leader in thin computing, today announced secure high-speed Wi-Fi capabilities and smart card support for its entire V and S classes of thin clients as well as its new Wyse V class L product line. Now the company's entire product line offers users multiple modes of high-speed Wi-Fi and smart card support (either as a built-in or external add-on solution), bringing new levels of flexibility, mobility and security to today's businesses and enterprise users.
The new Wyse thin clients are fully compatible with Microsoft Terminal Services, Citrix Presentation Server, VMware VDI and Wyse Device Manager. These thin clients offer customers a broad range of deployment options including support for leading operating systems including Wyse Thin OS, Microsoft Windows CE, Windows XP Embedded (XPe) and Linux. Wyse also announced the availability of Wyse Thin OS 5.3, which includes support for wireless and smart card options on the V10L and S10 thin clients.
Customers are demanding more versatility and features out of their desktop computing environments. This is why all Wyse thin clients are tailored to operate in enterprise desktop virtualization, application virtualization, and terminal services environments while offering users the latest wireless capabilities and smart card support. The end result, customers get a complete "PC experience" on a thin computing device at a fraction of the price.
"Although wireless came somewhat late to the thin-client market, we expect it to have solid adoption over the next few years," said Bob O'Donnell, Program Vice President, Clients and Displays at IDC. "Desktop PC adoption of Wi-Fi is expected to reach just under 10 percent in 2010 and with enterprise Wi-Fi installations available in about 80 percent of major businesses around the world, we expect wireless thin clients to grow even faster than desktops."
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General Motors Corp
The vehicle could roll away after the driver has exited, NHTSA said in its notice.
Investigators also suspect the gear problem could have been behind warranty complaints that certain vehicles would not restart once placed in park.
The 2009 Models affected include the Chevrolet Cobalt, HHR, Malibu, Traverse and the GMC Acadia, Pontiac G5, G6 and the Saturn Aura and Outlook.
About three quarters of the vehicles identified in the recall remain in dealer lots or with the manufacturer, a GM spokeswoman said.
The company said it was not aware of any accidents or injuries related to the problem.
(Reporting by John Crawley; Editing by Andre Grenon and Gunna Dickson)


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The museum launches in November and is dedicated to showcasing the evolution of mobile phones from 1984 onwards
A museum dedicated to depicting the history of the mobile phone is set to launch in November.
The Mobile Phone Museum will feature more than 2,000 unique handsets from 200 different manufacturers and is founded by industry veterans Ben Wood and Matt Chatterley.
Mobile network operator Vodafone will sponsor the museum, after striking a five-year sponsorship deal.
It will showcase the evolution of mobile phones from 1984 to the present day, from the very first “portable” devices to the latest smartphones.
Although the museum will be online, physical pop-up exhibitions are planned in the future.
Speaking to Mobile News, Wood, who is also chief analyst at CCS Insight, said: “We wanted to reach as many people as possible with this museum, so going online will expand the research to a global scale.”
The idea for the Museum was first coined in 2004, with Wood and Chatterley joining forces in 2019 to set the ground work for the vision to take place.
As well as Vodafone supporting the Museum through the long-term partnership, CCS Insight has also provided financial donations to support the venture. Genuine Solutions also helped to store the phones prior to the launch.
Wood adds that the partnership with Vodafone will direct the museum to a wider audience.
“I’ve been collecting phones for more than 25 years. Over the last three decades the mobile phone has become part of the fabric of society and the design diversity, from early transportable phones to the latest smartphones with flexible displays, is something to behold.
“When the online museum launches later this year, we want it to be a rich learning resource and a way to inspire young people to go on to create incredible mobile innovations of their own in the future.”
Vodafone UK consumer director Max Taylor added: “Our smartphones are now at the very centre of our world, and this is a fitting celebration of the role they play.
“We hope that by supporting Ben and Matt’s unique museum collection – the most comprehensive collection anywhere in the world – we’ll be able to help people reminisce about the devices they’ve had over the years, and get excited about what devices might be able to do for them in the future.”


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Shinhan, just one of the oldest and greatest financial institutions in South Korea, has partnered with two fintech corporations to build a new stability method using blockchain tech.
For the hard work, the financial institution has indicator an arrangement with GroundX, the blockchain subsidiary of messaging app company Kakao, and blockchain developer Hexlant, according to an short article from The Korea Moments on Wednesday.
The offer will see the three providers jointly establish a private essential management method for use within Shinhan’s systems, with Ground X to provide the underlying blockchain-based system, and Hexlant to create infrastructure that will incorporate an “anti-cracking software,” as for every the report. The method could see screening as soon as Oct.
“Blockchain technological know-how has received interest from the monetary sector for its pros, but monetary corporations have seasoned problems in applying the technological know-how to their method,” stated an official at the financial institution. “Shinhan Lender will provide a easy consumer-friendly interface under the offer with Ground X and Haxlant.”
GroundX notably launched its have blockchain for use throughout Kakao’s products and services in June. Named Klaytn, the community is claimed to be 150 times quicker than ethereum (although is a hybrid private blockchain with permissioned nodes that can be double checked by general public members), and has its have cryptocurrency termed “klay.”
In Could, Shinhan launched a blockchain system to confirm items of proof demanded for credit rating lending, these as qualification or certification files, searching for charge and speed improvements.
Shinhan Lender image via Shutterstock


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Cheerwine, the iconic 104-year-old soft drink, and its hometown of Salisbury will welcome one of America’s most vibrant rock bands to the stage when the Spin Doctors headline this year’s festival.
The multi-Grammy nominee quartet, along with Lauren Light Trio, Tsunami Wave Riders and 9daytrip, will perform live music for tens of thousands of attendees from the Hotwire Communication Stage throughout the day.
The festival will be held from noon – 10 p.m. on Saturday, September 18, in the heart of Salisbury’s historic downtown.
In addition to exciting live musical performances, the free outdoor celebration will feature a number of family-friendly activities. Festival goers will:
Immerse themselves in the soft drink’s rich southern history at the Rowan Museum’s Cheerwine exhibit, featuring rare memorabilia on loan from Cheerwine and private collectors.
Savor mouthwatering Cheerwine-inspired food, including tacos, kettle corn, BBQ, funnel cakes, and more, from 25+ vendors from across the Carolinas.
Sample delicious Cheerwine-infused craft beer from regional craft breweries, including New Sarum Brewing Company, Morgan Ridge Brewery & Eatery, Cabarrus Brewing Company and Gizmo Brew Works.
Visit the Food Lion “Carolina Brands” attraction and experience unique regional flavors from favorites, including Cook Out, Cackalacky, Renwood Mills and more.
Play at the F&M Bank Kids Zone, which will include entertainment and activities for little ones.
Shop for arts and crafts, as well as fun and unique Cheerwine merchandise, from over 50 different vendor booths.
“We love all our fans who travel from near and far to celebrate all things Cheerwine with us in our hometown annually,” says Joy Ritchie Harper, vice-president of marketing for Cheerwine and fifth-generation founding family member. “We’re proud of our Carolina roots and excited to welcome other local brands and vendors from across the region to Downtown Salisbury to salute our rich heritage through a day of food and drink, arts and crafts, music and more.”
“The City of Salisbury is delighted that such a well-respected brand like Cheerwine calls us home,” says Salisbury Mayor Karen Alexander. “Our residents look forward to this event every year, and we’re thrilled to welcome our out-of-town guests and show them the southern hospitality we’re known for.”


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Cannabis laws in Thailand are still up in the air and confusing for most people. In recent years, Thailand has undergone a remarkable transformation in its approach to cannabis laws. This Southeast Asian nation, once infamous for its strict anti-drug policies, has embarked on a pioneering journey towards the legalization and regulation of cannabis.
As we delve into the year 2024, it’s essential to delve deep into the evolving cannabis landscape in Thailand and how it reflects the changing attitudes and policies concerning this remarkable plant globally. Let’s take a look at cannabis laws in Thailand in 2024 to know what we can and cannot do, and if things are going to change this year.
Thailand’s historical relationship with cannabis is as complex as it is intriguing. For centuries, cannabis played a significant role in traditional Thai medicine and culture. However, in the 20th century, as the global war on drugs escalated, Thailand adopted stringent anti-drug laws, including the criminalization of cannabis. These laws remained largely unchanged for decades, contributing to the perception of Thailand as a nation with some of the harshest drug policies in the world.
The turning point came in 2018 when Thailand made history by becoming the first Asian nation to legalize medical cannabis. This momentous decision was driven by a growing body of scientific evidence supporting the therapeutic potential of cannabis, as well as shifting public attitudes towards the plant. The Thai government recognized that medical cannabis could be a valuable addition to the country’s healthcare system, offering relief for various medical conditions.
Fast forward to 2024, and Thailand’s medical cannabis program has evolved significantly. Patients with qualifying medical conditions can now access medical cannabis products through registered healthcare providers. These products include cannabis oil, capsules, and oral sprays, among others. The government has also implemented stringent regulations to oversee the entire process, from cultivation to production and distribution.
To access medical cannabis, patients must obtain a prescription from a licensed healthcare provider, and the Thai Food and Drug Administration (FDA) closely monitors the program. This level of regulation aims to strike a balance between making cannabis accessible to those in need and preventing misuse or diversion. Cannabis laws in Thailand are very favorable towards medical use.
Thailand’s cannabis industry has not limited its focus to domestic needs. The nation has emerged as a key player in the global cannabis industry, exporting cannabis products and investing heavily in research and development. This forward-looking approach is aimed at capitalizing on the economic potential of cannabis and fostering innovation. Cannabis laws in Thailand pertaining to export are still cloudy.
Thailand’s cannabis research initiatives have garnered international attention and partnerships with leading institutions around the world. By conducting groundbreaking research on various aspects of cannabis, from medical applications to cultivation techniques, Thailand is contributing to the global body of knowledge surrounding this remarkable plant.
One of the unanticipated consequences of the evolving nature of cannabis laws in Thailand is the rise of cannabis tourism. As the stigma surrounding cannabis gradually dissipates, tourists from around the world are drawn to Thailand’s unique blend of culture and cannabis-friendly policies. The country has embraced this trend by establishing designated areas where tourists can safely and legally consume cannabis products.
These cannabis-friendly zones are strictly regulated to ensure responsible use and prevent public disturbances. They provide a unique opportunity for tourists to experience Thailand’s rich cultural heritage while also enjoying the benefits of cannabis in a safe and controlled environment.
The shift towards cannabis legalization in Thailand has also had a profound impact on the country’s criminal justice system. The government has taken steps to decriminalize minor cannabis offenses and expunge the records of individuals previously convicted for low-level cannabis-related offenses. This reform is a significant step towards addressing the historical injustices associated with cannabis prohibition.
Furthermore, the revenue generated from the cannabis industry has been reinvested in education, rehabilitation programs, and community development in areas that were disproportionately affected by drug-related issues in the past. This holistic approach to cannabis regulation aims to rectify the social and economic disparities caused by previous drug policies. Cannabis laws in Thailand for recreational use are being drafted this year.
While Thailand’s cannabis journey in 2024 is undoubtedly impressive, it is not without its challenges. Striking the right balance between regulation and access, ensuring product safety, and preventing misuse remain ongoing concerns. Additionally, the stigma associated with cannabis use still lingers in some segments of society, requiring continued education and awareness efforts.
The international legal landscape also poses challenges for Thailand’s cannabis industry. While the country has made strides in becoming a global player, it must navigate complex international drug treaties and regulations. These challenges underscore the need for continued collaboration and diplomacy on the global stage in regards to cannabis laws in Thailand.
Cannabis laws in Thailand in 2024 serve as a compelling case study in the evolving global attitude towards cannabis. The nation has transformed from a strict enforcer of anti-drug policies to a trailblazer in cannabis legalization and regulation. This transformation reflects broader shifts in public perception, medical understanding, and the economic potential of cannabis.
As we look ahead, it is evident that Thailand’s approach to cannabis will continue to evolve. The government’s commitment to research, responsible regulation, and criminal justice reform sets an example for countries around the world. Thailand’s journey with cannabis laws serves as a reminder that even the most conservative drug policies can change when driven by evidence, compassion, and a commitment to social justice.
In conclusion, understanding cannabis laws in Thailand in 2024 reveals a nation that has fully embraced the potential of cannabis while carefully navigating the complexities of legalization. Thailand’s progressive approach, coupled with its rich cultural heritage, makes it a unique destination for those seeking to explore the intersection of tradition, innovation, and cannabis.
As the world watches, Thailand’s cannabis journey continues to inspire and shape the future of cannabis policy worldwide. The story of Thailand’s transformation from prohibition to progress serves as a beacon of hope and a testament to the power of evidence-based policy-making.


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BENGALURU: Instant messaging-based delivery startup MagicTiger has acquired Instano, a Bangalore-based B2C (Business-to-Consumer) eCommerce App that renders on-demand delivery of services over chat.
"Instano was one of our best competitors and had good focus on operations as well as quality. We realized, lots more could be done together than separately," said Pratyush Prasanna, co-founder of Magictiger.
With this acquisition, the core Instano team - Rajesh Ranjan, Pradeep and Prem would be joining the team. Rajesh, an IIT KGP alumnus, co-founded Instano and looked after product, strategy and marketing.
"Pradeep and Prem would be part of the Business development and Operations teams at Magictiger," said Arun Kumar, co-founder of Magictiger.
The company, backed by serial entrepreneurs K Ganesh and Meena Ganesh, had accuqired another AI-based company Zoyo in September.
Magictiger uses AI-tech to anticipate user behavior, predict purchases to help customers make better decisons. On MagicTiger, users can ask for various items like food, groceries, household services and even government services.
Bismi is a family-controlled venture owned by entrepreneur VA Ajmal who leads the business as its managing director. The company has revenue of around ₹800 crore. While the Ajmals are seeking a valuation of about ₹600 crore, Reliance Retail is currently negotiating on the valuation which could ultimately be lower, the executives said.


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Live in Brazil? Look out for the Moto Z Android 8.0 Oreo update
- Motorola and its parent company Lenovo confirmed that an OTA Moto Z Android 8.0 Oreo update is rolling out now…to Brazil only.
- The company did not give an estimated date for the U.S. or European variants to get the update.
Motorola and its parent company Lenovo are going through some major changes right now, like a massive staff reduction in Chicago and the supposed end of a few smartphone lines. But the company still found time to push out the Motorola Moto Z Android 8.0 Oreo update…but only to Brazilians.
On an official Motorola/Lenovo forum (English translated version here), a verified user by the name of MrAnDLee confirmed that an update is rolling out to Brazilian Moto Z owners right now. Weighing in at 1.4 GB, the OTA update will bring Moto Z owners from Nougat to Oreo, as well as bring the latest Android security patches.
Motorola has been working on the Oreo update for quite a while now, so it’s been a long time coming. However, the Moto Z at this point is nearly two years old, so the fact that anyone anywhere is receiving an update to the almost-latest version of Android is pretty notable.
As for the rest of the world, Motorola does confirm in the forum post that the United States and European variants will get the new update eventually. The company didn’t give a firm date or even an estimated month, just that the update will come at some point in the future.
As soon as we hear more info on when the rest of the world will see this update, we’ll post about it. In the meantime, if you’re in Brazil, let us know in the comments if you got the update!


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Mewbox, the Android phone owners’ answer to Apple’s iTunes music service, goes live today.
Powered by 7Digital, Mewbox offers DRM-free downloads of 4 million tracks.
Though the service has been available to owners of the Archos 5 Android slate for some time, this is the first time Mewbox has been available for an Android handset. Don’t worry if your Android phone is an older model; Mewbox will be fully compatible with all Android powered phones.
Mewbox isn’t currently available on the Android Marketplace, but you can grab the software from the Mewbox homepage.


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New Jersey sues Asbury Park for ignoring state order on indoor dining
Earlier this week, a beach town in New Jersey said it would allow indoor dining at some businesses next week, defying a recent executive order from Gov. Phil Murphy. The Asbury Park City Council on Wednesday approved a resolution to allow bars and restaurants to open their dining rooms at 25 percent capacity starting Monday. Earlier this month, Murphy signed an order that would allow for limited outdoor dining at restaurants starting June 15, but he said “we’re not there yet,” when it comes to indoor dining. In response, the governor announced today that the state would be suing Asbury to prevent this from happening.
Asbury Park officials noted that restaurants in the city that choose to open for indoor dining could be subject to penalties from the state. “While Council has approved indoor food and beverage service with restrictions, businesses should be aware this could be overruled by the State of New Jersey,” a press release from the City of Asbury Park reads. “Since Governor Murphy has not yet allowed indoor dining, participating businesses could be considered in violation of Executive Orders and may be subject to fines by the State of New Jersey.”
However, today, in response to news about the state’s legal actions, Asbury Park Mayor John Moor said to NJ.com, “I know in the past when the governor and his staff thought towns were violating his executive orders he has gone to court and asked the judge for an injunction. I would hope that would be his action, instead of wasting his money, the city’s money which is not his money, and simply ask the judge for an injunction. Then a judge decides it and we’ll go from there.”
In his press conference today, Governor Murphy said, “We have worked with the governing body of Asbury Park to try to amicably resolve the issue of their resolution regarding indoor dining. Unfortunately, they have not done so.” He declined to say whether or not he’d send police in on Monday if restaurants were operating indoors.
Asbury’s indoor restaurant policy falls under a larger reopen and business recovery plan, introduced by the Council on Wednesday. The plan involves a pilot program that would close some streets to cars for recreational activities and business use, including outdoor dining and non-essential retail. The pols also approved a relaxation of ordinances and permitting to allow restaurants and stores to use sidewalks, parking lots, and streets for their businesses.
“We are excited to reopen Asbury Park. COVID-19 has had an enormous impact on our community,” Deputy Mayor Amy Quinn said in a press release. “As Council, it is our responsibility to do everything that we can to help our struggling businesses rebuild while keeping our residents and visitors safe during this pandemic.”
“The Governor’s Executive Order No. 152 already allows indoor gatherings of up to 50 people and we simply decided to extend it to food and beverage service,” Quinn said.
On Tuesday, Murphy raised the limits on outdoor and indoor gatherings, allowing for up to 50 people at indoor gatherings and 100 people at outdoor gatherings. The state order requires all attendees to wear face coverings, remain six feet from others, and that “physical items may not be shared by multiple attendees” unless sanitized.
In addition to limited outdoor dining, the state’s phase two also allows for hair salons and barbershops and swimming pools to open on June 22, followed by youth programs in early July.
Editor’s Note: This story was originally published on June 11, 2020, and has been updated to reflect information about the state’s lawsuit.


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Macquarie Telecom chief David Tudehope has skirted the question of whether he intends to accept a $1 million bet proposed by Bevan Slattery over the future of the data centre industry.
Slattery – founder of new data centre builder NextDC – had challenged Tudehope to the wager over a comment that new entrants to the data centre industry could go out of business within three years.
Slattery told the Commsday Summit that the winner of the bet could select the charity to donate the million dollars to.
When contacted by iTnews, Tudehope did not directly respond to a question about the bet.
"During my speech, I stated that I believe there will be a glut of co-location supply due to new data centre builds which will overwhelm the increase in demand," he said in a statement.
"History would suggest that these conditions are likely to cause some simple co-lo builders to go out of business or be acquired."
Further comment was being sought on a definition of "simple co-lo builders" and who would potentially fit that description, and on the status of the bet itself.
A follow-up response had not been received at the time of publication.
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Search Results for 'Erris Chamber of Commerce'
3 results found.
Kiltane businessman Brendan Hegarty has taken over from Derek Reilly as President of the Erris Chamber of Commerce.
If selected at convention this Sunday, Sinead Gaughan will be the first woman to represent the Fine Gael party for the Belmullet electoral area in the Local Elections. “I wish my colleagues all the best,” Sinead has said this week, “but it is a landmark occasion for me personally. Perhaps goodwill will be on my side considering the unique circumstance of my nomination, we can only wait and see.”
Chambers of Commerce in Mayo were urging consumers to shop local in the run up to Christmas. But now, more than ever, that message has a greater urgency. The message is clear: To protect jobs in Mayo shoppers must continue to spend their money in Mayo. In the Erris region alone a minimum of 371 people are employed in the retail sector. That’s according to the findings of a survey conducted by Erris Chamber of Commerce. Chamber president Derek Reilly has reiterated the shop local message and pointed out its aptness at any time of the year. Those jobs could be in jeopardy if local people choose to shop elsewhere, Mr Reilly has warned.


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'Brands will need new tricks to make electric cars affordable'
John McIlroy thinks manufacturers will use the electric car rollout to change the buying process
Another week, another new entry into the electric-car market. And this time it’s a biggie: Toyota, the leading light of hybrid electrification over the past 20 years, has finally ditched the combustion engine altogether for the first of its bZ EV line-up.
We’ll leave you to read Sean Carson’s full verdict on a late prototype of the bZ4X – but one interesting aspect to take from the review is that Toyota is trying to use this car to shake up its retail model. Fact is, a four-wheel-drive version of this car is going to have a list price of more than £48,000 – which is quite a lot for a five-seat family SUV.
However, Toyota is aiming to make this figure irrelevant for many private customers by rolling out the bZ4X on a lease deal that makes the more conventional PCP finance scheme look a bit pricey. We wouldn’t say the ‘Kinto’ arrangement is particularly cheap, with a deposit of more than £3,500 and monthly payments of over £600. But then, it does include servicing, installation of a home charger and a period of access to Toyota’s ‘single-card’ public charging network – while costing less every month than the regular PCP.
We’ve seen others experimenting with ‘all-in’ lease arrangements before – some firms are using their all-electric models to play with moving the whole process online – but it seems quite significant that Toyota, one
of the most mainstream of brands, has chosen now to really push the idea (and through its showrooms, some of which will feature ‘bZ hub’ areas devoted to the EVs).
As the transition to electric motoring continues to accelerate, manufacturers are going to have to use lots of tricks (or let’s call them novel approaches) to bring the buying process and ownership experience closer to as many customers as possible. We’ll see dozens of EVs unveiled in the months ahead; we may also see a varied line-up of ways of getting them onto our driveways.
Check out the latest Toyota news and reviews here...


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Hawaii’s Teddy’s Bigger Burgers expanding to Texas
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Hawaii-based Teddy’s Bigger Burgers is expanding on the Mainland with its first franchised restaurant in Texas.
The first Texas store is under development in the Dallas-Forth Worth area under the first of two franchise agreements in Texas, Teddy’s Bigger Burgers said.
The Honolulu-based company, which has eight 1950s-style restaurants in Hawaii, three on the Mainland and one in Japan, said it plans to award more franchised stores in Texas as part of its expansion plan.
“We’re thrilled to know that we can serve people in Texas with the top-notch quality of Teddy’s burgers,” co-founder Ted Tsakiris said in a statement.
Tsakiris and his partner, Rich Stula, recently opened their newest Hawaii location in Kapolei, and are planning a new concept for a restaurant in Haleiwa on Oahu’s North Shore that would include a bar as well as the company’s signature mix of burgers, sandwiches, fries and other sides.
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Global professional hair care company Wella has appointed Mango Sydney and Mango Auckland as its PR agency partners across the trans-Tasman following a competitive pitch in July.
Mango will be responsible for delivering a variety of marketing communication services including communications planning, creative, PR, experiential, sponsorship and digital for all brands within the Wella portfolio.
Matthew Foster, commercial director of Coty Professional Beauty for Australia and New Zealand, said: “We went to market in both countries to find the best agencies and didn’t expect to find one agency that could deliver against our complex brief.
“Wella needs an agile partner with expertise in generating cut-through with stand-out strategy and creativity.”
Emma Wright, brand manager at Wella for Australia and New Zealand, added: “Our new partner needed to be able to deliver PR services including media and influencer engagement, work with our stylists and ambassadors, leverage existing and new partnerships, and above all, be the right fit for Wella, reflecting our core beliefs and values.
“We are thrilled to have found everything we need in one trans-Tasman agency, and we look forward to working collaboratively with Mango on our upcoming plans.”
Mango Sydney managing director Tabitha Fairbairn said the Wella brand is synonymous with making people feel good.
“Working together presents our team with an opportunity to demonstrate not only Wella’s market-leading strengths in colour, care and styling, but ultimately about how it makes people feel,” she said.
“This is a significant new partnership for our business, and we warmly welcome Wella to Mango.”
Cannes Lions has announced the winners in the second Awards Show of the week during Cannes Lions Live, which runs until June 25th. On day two, winners were celebrated in the Social & Influencer Lions, Media Lions, PR Lions, Direct Lions, Creative Strategy Lions and Creative Data Lions – all within the Reach Track, in […]
Cresta Awards has announced that despite having a few more weeks before entries close, this year’s Cresta Awards has surpassed its entries for the whole 2019 Season. Cresta sees this as evidence, not just of evolution in its own awards but of a wider measure of industry confidence and resilience in many markets. The awards […]
Ashley Madison, the online dating site for married people famous for its shock advertising, is toning down the message, instead creating content aimed at empowering women with the message it’s fine to have an affair. Recently, B&T interviewed GroupM’s chief technology and transformation officer, Ryan Menezes. When asked what was the best brand he’d never […]
Clemenger BBDO Melbourne has announced Charlotte Stevens as group business director, leading the Myer account. Stevens is returning home to Australia following a decade in London, most of which was spent at Portas Agency. During her time in London, Stevens led Sainsbury’s fashion, homeware and beauty portfolios and worked across a range of retail accounts […]
In this piece, Tim Sleath, VP of Product Management at VDX.tv, discusses household targeting’s role alongside other identity solutions and how advertisers can create an effective household strategy for their campaigns. As the advertising industry plans for the removal of third-party cookie support and moves toward adopting more privacy-centric solutions, marketers will need to identify […]
Culture-leading publisher Highsnobiety continues to evolve its local operations with the appointment of Citizens of Culture as its strategic partner across media operations within Australia. Highsnobiety is a premium global brand dedicated to cultural pioneers, with work spanning across digital platforms, print media, documentaries, cutting edge events, a shopping platform and a full service creative […]
Australian fashion brand Witchery has partnered with B Corp GlamCorner as part of GlamCorner’s subscription box offering as the demand for everyday essentials soars. This partnership marks another milestone for the Australian fashion industry towards becoming more circular and introducing more paths to reduce textile waste. Customers nationally will be able to rent more of […]


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We had a chance to catch up with Heckler & Koch at Industry Day at the Range ahead of SHOT Show 2020, and at first blush, the VP9 appears to be the same pistol. Upon closer inspection, though, the discerning eye will note a few subtle and welcome changes, especially for those looking to the VP9 as their everyday-carry pistol. First off, magazine capacity has been increased from 15 rounds to 17 rounds. Secondly, and it’s in keeping with a common theme I’ve noticed this week, the new VP9 comes optics-ready. Now, this isn’t a special optics-ready version, mind you. All VP9 models will simply have an optic cut with a cover as standard equipment, with a variety of mounting plates available. Third, H&K has changed the iron sights to a high-visibility front sight and a blacked-out rear sight.
At the heart of it, though, is the same VP9 we’ve known since its release. The varying side- and backstrap are still standard features, as are the cocking “wings” at the rear of the slide. Trigger pull remains excellent, and the VP9 is still available with either the paddle magazine release or the standard push-button. Other variations, such as one in Flat Dark Earth, are also available with the new upgrades mentioned above. There’s even a version in what Heckler & Koch calls “midnight bronze.” Check out the video for the full story on the new Heckler & Koch VP9.


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Image courtesy of House Hart
According to the USDA, Americans eat 50 billion hamburgers each year. Comedian, actor and now a restaurateur prefers to eat a healthier, flexible diet. Realizing there weren’t any plant-based fast food options in Southern California, he hooked up with a team of experts to create a casual, quick, plant-based dining concept that provides offers healthier burgers, sandwiches, fries, chips, carbonated soft drinks and milkshakes.
Hart House is not only related to Kevin’s last name but also to maintaining a healthier heart. The logo is a heart shape with an ‘H’ next to it. His goal is to help change the overall well-being of people and our planet, with a mission to bring “Plant-Based Food to Everyone”.
After he opened his first Hart House in Westchester near LAX in 2022, the next group opened in the town of Monrovia. Now they just opened a third location in the heart of Hollywood, on Sunset Blvd. and Highland Avenue. Not just across from the iconic Hollywood High School, but across from Chick-fil-A. This location even has a drive-through service to order and pick up healthy food on the go.
According to a recent study, if diners in the Los Angeles metro area ate a plant-based alternative burger each week, the GreenHouse gas savings would be equivalent to 3 billion miles of car driving and up to 7.5 billion passenger miles by plane. These numbers show how big of an impact a seemingly small choice, like a meal, should be accepted.
Recently on Earth Day, Hart House unveiled a Community Inner Arts program to educate the broader Los Angeles area about the potential benefits a plant-based diet can offer. for the earth. Three graduates from Inner City Art’s Work of Art college preparatory program have created digital artwork that is printed on canvas and is currently on display at Hart House locations.
Guests dining at the Hart House will find live music playing in the background. There’s a QR code inside near the organic soda dispenser for diners to download and get Kevin Hart’s Spotify playlist on their personal phones.
Summer Lovin’ Special – Photo by Jill Weinlein
According to Marcus Byrd, Brand and Marketing Manager at Hart House, there are two different types of plant-based patties in Hart House bread. ‘They’re not Beyond Meat or Impossible, but fresh patties made in Canada and Brazil.’
One of the most ordered items is the Double Burg’r, which is made with two delicious plant-based patties, crispy lettuce, sliced tomatoes, grilled onions and Hart House Signature sauce on bread.
In summer, ‘Summer Lovin’ is a special combination consisting of grilled meat sandwiches, crispy nuggets and lemonade.
Popular dishes include chips, fries, or a small kale salad. “When guests want to combine fries and chips, they can order ‘Frots’ with one of our special sauces,” says Byrd.
Besides organic juice drinks and organic sodas, Hart House also produces dairy-free milkshakes. “The Oreo shake is our most popular,” says Byrd.
Opening of Hart House in Hollywood
To celebrate the opening of the third Hart House location on May 23, 2023, Kevin Hart and his team partnered with the Assistance League of Los Angeles and donated 10% of the grand opening day profits to the charity. this worthy community work.
When they learned that one in four children in Los Angeles lived below the poverty line, they adopted this worthy organization to help make a difference.
Support Los Angeles works to make a positive impact in the lives of LA youth by providing basic needed services and providing rich community programs. Their mission is to lift children up and help them reach their full potential as they grow to become adults.
Hart House seeks to change the way people eat, by providing them with options to help promote a positive and healthy impact on themselves, their community, and the world.


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Proxicom Inc., which had agreed to be purchased by Compaq Computer Corp. in April unless a better deal came along, said Wednesday that it has found just such a deal and that Compaq has until Monday to make a better offer.
In a statement that came only two days after Proxicom said that it was in talks with U.K.-based Dimension Data Holdings PLC, Proxicom said that Dimension Data Holdings had offered to purchase the company for US$7.50 per share, besting Compaq's offer of $5.75. Proxicom's agreement with Compaq allowed Proxicom to receive and negotiate other bids and if a better offer was received, Compaq would have three days to match it. If Compaq does not match the bid, Proxicom will pay a $10 million termination fee.
Proxicom's board has not yet changed or withdrawn its recommendation to shareholders that they approve the Compaq merger, the company's statement said.
The Compaq deal would have cost $266 million. The total value of Dimension Data Holdings' offering was not announced.
Compaq is attempting to acquire Proxicom to expand its global services offerings.
Compaq is evaluating its options and will take the three-day period to decide how to proceed, said Steve Seivert, a Compaq spokesman.
"We want to do what's in the best interest of the company," he said.


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Anheuser-Busch InBev reported strong organic growth in revenues and EBITDA in the first quarter, on May 6. As expected, AB InBev’s commitment to its premium brand profiling, and more emphasis on sales of premium beer brands, led to a solid rise in revenue per hectoliter, which increased by 7.5% year-over-year in Q1, excluding the impact of currency translations. The growth of sales per unit volume was slightly offset by a 1.2% decline in volume sales, resulting in a 6.2% rise in organic sales this quarter. However, a stronger dollar compared to certain local currencies weighed on the financials, dragging down net sales by almost $1 billion to $10.45 billion. Lower sales volume was mainly impacted by a decline in sales-to-wholesalers in the U.S., which declined by 6% due to a tough comparable resulting from a rise in wholesaler inventory levels in Q1 2014, as part of contingency planning ahead of labor negotiations.
The U.S. is the largest market for AB InBev, accounting for 24% of net volumes and 30% of net revenues last year. The brewer continues to lose share in this market, which could be worrying considering the fall in demand for domestic beer brands. However, AB InBev is looking to boost its future growth in the U.S. by backing its focus brands such as Bud Light and Budweiser, and also its imported and craft beer brands, which are relatively nascent as of now but could contribute meaningful volumes in the future.
AB InBev’s performance in its other key markets such as Mexico, Brazil, and China has been solid this quarter. Despite smaller volume growth, the brewer has managed to grow on the back of higher revenue per hectoliter, by focusing on its premium brands. EBITDA rose by 11% this quarter, on a strong top line growth and lower cost of sales, which rose 4.8%. AB InBev already boasts a strong positioning in most of its key markets, and could continue growing organically due to higher revenue per unit volume, as well as inorganically, owing to the brewer’s M&A activities, which focuses on acquiring local brands that already have a loyal and established customer following.
We have a $122 price estimate for Anheuser-Busch InBev, which is slightly above the current market price. The stock rose 2.5% after the announcement of results on Wednesday, and is trading at just under $120 a share presently.
What The Continual Fall In U.S. Volumes Means For Anheuser
The biggest beer brands for Anheuser in the U.S. are Bud Light and Budweiser, which continue to lose volumes in the country. Beer is a relatively mature market in the U.S. Beer consumption has declined in the country in the last few years as millennial customers are more health conscious and look to curb alcohol consumption. But in the last year or two, with improving economic conditions in the U.S., due to lower energy prices and historically-low unemployment rates, higher customer purchasing power has led to lower rates of decline in the nation’s beer market. According to Anheuser’s estimates, the industry declined 0.6% in 2014, after a larger 1.8% decline in 2013, and in the first quarter, the beer market fell by only 0.5%. The slightly improving market conditions have boosted the industry-wide average revenue per hectoliter, also raising Anheuser’s beer only revenue per hectoliter by 1.3% this quarter. However, the real downer for the brewer has been falling sales-to-retailers for both Bud Light and Budweiser, as demand for domestic beer brands continues to fall in the country.
Imported and craft beer volumes grew by 6.9% and 17.6%, respectively, in the country last year, outpacing the 0.5% growth in the overall market. Anheuser is bringing in more Mexican imported beer brands in the country, seeing how this segment, which forms around 8-9% of the U.S. beer market, grew 11% in 2014, and continues to thrive on an increasing Hispanic population in the country and higher customer demand. Distribution of the Mexican brand Montejo spreads to eight additional states in 2015, and more Mexican brands are expected to follow. The beer brand started selling in September last year in California, Arizona, Texas, and New Mexico, where 70% of America’s Latino population resides, and the initial roll-out of Montejo has been successful.
Mindful of the areas where the potential growth lies, AB InBev has looked to strengthen its presence in the imported beer segment, as well as to acquire budding craft brewers, such as Oregon’s 10 Barrel Brewing, Elysian Brewing Company, Blue Point, and Goose Island. However, the imported and craft beer segments together form only 26% of the beer market, which is still dominated by the domestic beer segment, which, in turn, is the segment where Anheuser is predominantly present. As Americans continue to fall out of love with domestic beer brands, and choose craft and imported beers over Bud Light and Budweiser, the brewer could continue to lose share and volume sales in this market going forward. Anheuser is looking to grow its presence in imported and craft beer segments, which are growing at a relatively faster rate, and operate at higher price points, but it might be a few years before the growth in these segments offsets the numerically larger declines in sales of Bud Light and Budweiser.
Solid Brazil And China Sales Boost AB InBev’s Financials
Weak economic conditions in Brazil, with high interest rates and inflation rates, and negative customer sentiment, continue to hamper consumer spending in the country. AB InBev’s volumes were slightly down in Brazil this quarter, but higher proportionate sales of the brewer’s premium brands resulted in an impressive 11% rise in revenue per hectoliter.
Brazil is one of the most unequal countries in the world. Despite having a small proportion of high net worth individuals, Brazil’s combined HNWI wealth of around $4 trillion is the third largest for any country. High interest and inflation rates, and tight credit availability don’t tend to adversely impact the more affluent individuals, and this could be one of the reasons why AB InBev’s premium beers have grown at a rapid pace in the economy that is otherwise struggling. And there is room for further growth. The brewer’s premium brands grew 20% in Brazil last year, with Budweiser registering an impressive 40% growth. But premium brands still form only 8% of the industry-wide volumes in the country, compared to 75+% of the net volumes in the U.S. This presents further potential growth opportunities in the premium segment in the Brazilian beer market. Furthermore, growth in the legal drinking age population is expected to continue for at least the next ten years, meaning that AB InBev’s target customer base should continue to grow.
On the other hand, growing beer volumes in China, despite a 2% fall in industry-wide volumes, was good news for Anheuser this quarter. AB InBev’s volume growth remained positive at 4.7%, reflecting strong growth in the brewer’s focus brands in the country. The company improved its market share in the country by 90 basis points to 15.9% at the end of last year, and including the recent mergers and acquisitions, the share, rose to 16.8%. In Q1, the brewer’s share further increased to 18.5% on solid volume growth. AB InBev could be in good shape to further improve volumes organically in China, once demand for beer starts rising again, as beer penetration is still low in the country and incomes are rising.
AB InBev continued its strong growth in revenue per hectoliter this quarter as well, but what might be worrying for the world’s largest brewer is the continually declining volume sales in the U.S. This might continue till the brewer starts gathering meaningful sales from its imported and craft beer brands.
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Festive Season Brings Joy, Cheer to Dubai Silicon Oasis Community
Hi-tech park hosts fun-filled, dog-friendly Christmas Market for residents
Dubai-UAE: 22 December 2020 –Dubai Silicon Oasis (DSO), the integrated free zone technology park, hosted a fun-filled Christmas Market with a difference last Friday. The guest list included some 400 residents from across the DSO community and nearly 100 dogs, all smartly turned out in the best of canine winter gear!
Getting into the festive spirit in sartorial style, the precious canines attended a Pooch Fashion Show with the best dressed candidates winning dog-friendly gifts for their Christmas flair. More than 15 pet vendors and a wide selection of food stalls offered the visitors and their dogs fun networking opportunities as they grabbed a snack or two. A Santa’s Grotto offered children endless amusement while competitive activities like darts and ping-pong, and a giant game of Jenga proved to be popular crowd-pullers. A Christmas Photo Booth ensured that all participants took home family snapshots of the memorable event. Kids enjoyed dabbling in some festive art and getting their faces painted in seasonal themes.
Hosted for the first time at DSOA’s latest project, the Dubai Digital Park, as part of its commitment to become the preferred community for people to live, work and invest in, the successful event will return next year with even more activities to strengthen the community spirit at the hi-tech park.
Dubai Digital Park, Dubai’s first smart city project, spans over an area of 150,000 square meters and comprises 47,000 square meters of office space, 17,000 square meters of retail units, 235 smart residential apartments and more than 5,000 square meters of ready-made and plug & play offices. Its host of value-added contemporary lifestyle facilities includes a 112-key Radisson RED hotel and 59 fully furnished apartments.


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While people purchase certain beauty products for a variety of reasons – the formula, the color, the price – some consumers will buy makeup for one reason and one reason alone – it’s new!
But, did you ever stop to think that there may be a reason that some women are more attracted to “just released” products than others? According to a new study published in the Journal of Consumer Research, it may be attributed to the first letter of one’s childhood surname.
Science Daily reports that the study found that those with childhood surnames that fell later in the alphabet were quicker to purchase items of value to them, which could be a result of often being in the back of the line in school when organized alphabetically by name.
“The idea holds that children develop time-dependent responses based on the treatment they receive. In an effort to account for these inequities, children late in the alphabet will move quickly when last name isn’t a factor – they will ‘buy early,'” the authors wrote.
We can’t help by wonder – next time the newest shade of Jane Iredale lip color is made available, will Michelle Williams snag one faster than Amy Adams?


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On March 27, 2019, Utah Governor Gary Herbert signed House Bill (HB) 57 – known as the Electronic Information or Data Privacy Act – into law, making Utah the first state to protect information that individuals have shared with certain third parties. Among its provisions, HB 57 states that, effective May 14, 2019, law enforcement may not generally obtain certain types of “electronic information or data” for use in a criminal investigation or prosecution without first obtaining a search warrant.Read more »
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- May 20, 2019 Supreme Court Issues Major Ruling on the Ongoing Viability of Trademark Licenses by Bankrupt Entities
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Cambodia milled-rice export market is expected to widen next year after the Cambodia Rice Federation (CRF) and Bank of China (Hong Kong) Ltd (BoC) signed a Memorandum of Understanding (MoU) on cooperation and support tied to the upcoming 3rd China International Import Expo (CIIE) in November.
The MoU was signed on Friday between CRF president Song Saran and BoC Phnom Penh Branch representative Liu Zheng and aims to shore up the Kingdom’s rice industry. BoC is a subsidiary of the Chinese State-owned Bank of China Ltd.
Both parties will further strengthen cooperation between banks and enterprises, and “effectively and efficiently” provide services and financing for Cambodian companies that are interested in attending the CIIE.
As a “strategic partner”, BoC will actively provide comprehensive financial services to the corporate members of CRF as part of the greater CIIE project.
CRF secretary-general Lun Yeng told The Post on Sunday that through the MoU, the BoC would make it easier for CRF members to attend the CIIE, held in Shanghai, China from November 5-10.
He said the event is taken very seriously by the Chinese leadership, and stressed the importance for the Kingdom’s rice sector to capitalise on the opportunity and expand its export market.
“Every year at the event, CRF leaders meet Chinese vendors to discuss and sign supply agreements. This is an opportunity for exporters for the coming year,” Yeng said, adding that the CRF has signed MoUs and rice sale agreements at both prior iterations of the CIIE.
Cambodia exported 448,203 tonnes of milled rice to international markets in the first eight months of this year, an increase of more than 31.04 per cent compared to 342,045 tonnes in the same period last year.
The General Directorate of Agriculture reported this, citing data from the General Department of Customs and Excise that was extracted from phytosanitary certificates.
Yeng said the exports were worth between $298 and $300 million.
The directorate said jasmine and fragrant rice accounted for 352,802 tonnes, equivalent to 78.71 per cent of total milled-rice exports, while white long-grain rice accounted for 89,699 tonnes (20.01 per cent).
Long-grain parboiled rice accounted for 5,679 tonnes (1.27 per cent) and red rice 23 tonnes (0.01 per cent).
China topped the list of 59 destination markets for Cambodian milled rice with 159,253 tonnes imported (up 19.79 year-on-year), accounting for a 35.53 per cent market share.
Exports to Europe, ASEAN countries and other destinations reached 149,848 tonnes, 60,933 tonnes and 78,169 tonnes, up 24.81, 42.49 and 68.92 per cent year-on-year, accounting for 33.43, 13.59 and 17.44 per cent of total milled-rice exports for the period.
But milled-rice shipments slipped 34.97 per cent to 22,130 tonnes last month, from 34,032 tonnes in August last year.
The CRF attributed the drop in dry-season milled-rice exports to climate change and the rescheduled Khmer New Year holiday last month.


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Cannabidiol (CBD), a nonpsychoactive ingredient in cannabis, has been legalized as a medicine in the United Kingdom.
The U.K.’s Medicines & Healthcare products Regulatory Agency (MHRA) announced today that it has reclassified CBD so that it can be legally used for medical purposes. Up until this point CBD was as illegal as the plant it’s derived from; cannabis.
“The change really came about with us offering an opinion that CBD is, in fact, a medicine, and that opinion was based on the fact that we noted that people were making some quite stark claims about serious diseases that could be treated with CBD,” Gerald Heddel, director of inspection and enforcement at MHRA, told Sky News. “It was clear that people are using this product with the understandable belief that it will actually help”.
As part of the change, the MHRA will allow the production and licensed distribution of CBD medicines.
The move is in stark contrast to what’s happening on the federal level in the U.S.; recently the Drug Enforcement Administration clarified that CBD is a schedule 1 drug alongside actually dangerous substances such as heroin.


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Two new dermatologic products may relieve patients’ dry skin and help fight lower extremity fungus.
The RU-25™ Dermal Foam is a urea-based product that softens and moisturizes dry skin, exfoliating and repairing the natural skin barrier, according to the manufacturer IntraDerm Pharmaceuticals. The company says the foam can moisturize and help treat skin that is callused, thick and cracked.
IntraDerm’s CLO-1™ Antifungal Foam contains 1% clotrimazole, which the company says acts as a broad spectrum antifungal. The foam provides antifungal relief of redness, irritation, scaling, cracking, itching and burning skin through its foam delivery technology, according to the company.
Company: IntraDerm Pharmaceuticals
Products: RU-25™ Dermal Foam and CLO-1™ Antifungal Foam
For more info, visit www.intraderm.com .
A three-dimensional scanner has been re-engineered for maximum efficacy.
The 3Dmaxx scanner comes with three casting options: non-weighbearing, semi-weightbearing or weightbearing, according to the manufacturer Footmaxx. The company says the scanner’s web-based software is accessible from any location and comes with or without a stand.
In addition, Footmaxx says the scanner captures up to 800,000 data points, can scan as quickly as eight seconds and has a scan resolution of 250 μm. The company notes that the 3Dmaxx offers a 14-inch by 6-inch field of view in various positions.
For more info, visit www.footmaxx.com .


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TIRUPUR: Global buyers are regularly calling suppliers
in the buzzing town of Tirupur, India’s biggest knitwear
hub that boasts Rs25,000 crore exports every year.
International callers, familiar with GST
benefits, are very clear about what it means for them. “They want a cut in prices,” says S Sakthivel
, secretary of the Tirupur Exporters Association
. The knitwear industry is clear about long-term benefits, but Sakhtivel also has other callers: Exporters want details about tax implications for the industry that has numerous workers and units involved in different parts of the chain such as printing, embroidery, washing, dyeing etc, which are taxed at 18%, while jobs related to yarn and fabric enjoy a 5% rate.
They are still coming to terms with the new system. “We are caught between buyers and suppliers not knowing what to do,” he rues although the industry is cautiously optimistic about GST.
In the southern states, the optimism is shared by many. Several businesses in Kerala are happy as they depend on other states for supply of many consumer goods, poultry, cosmetics and other items; pump manufacturers in Coimbatore, the country’s biggest hub of the industry, are happy their tax rates haven’t changed much and all firms are gaining from easier truck movement although they are concerned about the nitty-gritty of the new tax. At Tirupur, apart from the massive export orders, domestic knitwear sales amount to another Rs 12,000 crore.
“Unlike for exports we don’t get input credit for domestic sales. So the 18% tax for job works will have to be borne by the manufacturer which naturally will raise the manufacturing cost and affect the fund flow. Unless all the works are brought under a single slab of 5%, we have no option but to pass it on to the consumer,” said Raja M Shanmugham
, a leading exporter and the president of the association. Shanmugham says nobody has a clear picture of GST. “Our suppliers are confused. They approach us and when we need clarification we go to tax officials. But even they cannot give us the solution. They refer to the higher authorities,” he said.
The industry has been expecting a sales boost after the GST for readymade garments below Rs 1000 was fixed at 5%, some are concerned about flood of imports. “Higher cost of Tirupur garments may make the big retailers to turn to cheaper ones from Bangladesh, which has already captured 25% of the market in the country,’’ says T R Vijayakumar
, who heads CBC Fashion Asia Pvt. Ltd.
The pump and motor manufacturers in Coimbatore are not unduly worried about GST as the 12 % and 18 % slabs for each are only 0.5% higher from before. Incidentally, Coimbatore accounts for 45% of total pumps and motor production in the country amounting to `3,500-4,000 crore yearly. The problem again is job works by vendors, which is taxed at 18%. “Though with a business below Rs20 lakh are exempted from GST. We insist they pay which can be later adjusted against input credit.
Otherwise the reverse charge procedures are cumbersome,’’ says Jayakumar Ramdas, managing director of Mahendra Pumps. If the small units do not pay, then the manufacturers may turn to registered vendors.


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Walmart has posted a mocking rebuttal of New York Times op-ed writer Tim Egan’s piece called "The Corporate Daddy" (June 19 online and June 20 print) as "wildly inaccurate."
At the very least, Walmart could have followed the Starbuck model of free tuition for all workers, according to Egan, a Pulitzer Prize-winner and NYT writer of 18 years.
He rapped the discount retailer for paying workers a “poverty wage” and panned its business model that “forces thousands of hard-working people to look for outside help just to get by.”
David Tovar, Walmart’s VP-corporate communications, marked up Egan's copy, providing clarifications such as, "We see more associates move off of public assistance as a result of their job at Walmart."
Walmart thanked Egan for "sharing his first draft." His edits "are a few thoughts to ensure something inaccurate doesn't get published."
Starbucks and Walmart are Edelman clients.


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Democrats are calling on some of the largest gaming companies to better protect children by extending new UK design rules to children in the US. The regulations could ban companies from selling in-game loot boxes to minors, among other restrictions.
In letters to a dozen major gaming companies, including Blizzard, Epic Games, Microsoft, Nintendo, and Riot, Sen. Ed Markey (D-MA), Rep. Kathy Castor (D-FL), and Rep. Lori Trahan (D-MA) pressed executives to extend new UK design regulations to children in the US.
“It is imperative that Congress acts with urgency to enact a strong privacy law for children and teens in the 21st century,” the lawmakers wrote. “As we work towards that goal, we urge you to extend to American children and teens any privacy enhancements that you implement to comply with the AADC.”
“It is imperative that Congress acts with urgency to enact a strong privacy law for children”
The new UK rules, called the “Age Appropriate Design Code,” are set to roll out next month, applying to social media platforms like Facebook and Instagram as well as games like Roblox and Minecraft. Specifically, the new rules force companies to design their products in the “best interests” of children, offer stricter privacy settings and policies for different age groups, and restrict “nudging techniques” often used to encourage users to continue using the service.
The UK law does not extend to children in the US, but in Tuesday’s letters, lawmakers called on the 12 companies to voluntarily apply these same protections to Americans. Notably, the lawmakers argued that the Entertainment Software Rating Board’s (ESRB) loot box guidance does not go far enough in protecting children from “manipulation” associated with these in-game purchases and that the companies should create stricter regulations in compliance with the new UK rules in the US.
“The prevalence of micro-transactions—often encouraged through nudging— have led to high credit card bills for parents,” the lawmakers wrote. “Loot boxes go one step further, encouraging purchase before a child knows what the ‘bundle’ contains— akin to gambling.”
The US already has some laws protecting children’s privacy — most notably the Children’s Online Privacy Protection Act, authored by Markey. But the law only applies to children under the age of 12. The UK rules extend to minors under the age of 18. Earlier this year, Castor reintroduced her “Kids PRIVCY Act” which includes elements of the UK’s Age Appropriate Design Code. Specifically, the bill would prohibit behavioral ad targeting to children and force companies to design their products in the best interests of young people.


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Tagged: Tegra 4
NVIDIA SHIELD Andoid-powered game console is getting its second software update since launching late last month and reaching store shelves. The 5-inch Tegra 4 rocking gamepad is being updated by NVIDIA to software update 59 with new features such as moving entire games to the micro-SD, more Miracast streaming support and plenty of new games.
Gameloft have just released the 8th installment to their classic racing franchise for mobile. That being Asphalt 8: Airborne. We saw it when Google announced the Nexus 7 followed by a slight delay, and today it's officially available for almost all Android devices. Oh, and it works amazingly well with the NVIDIA SHIELD, so we're doing our review with that device. Check out this high flying, octane-boosting game below.
NVIDIA SHIELD Android-powered game controller and console around here. Offering up the power of NVIDIA's Tegra 4 quad-core and a 5-inch 720p HD display all built inside and onto a dedicated game controller. Well, there's tons of Android and Steam games you can play, but a popular YouTube channel is showing us nearly 9000 games all using emulators.
teased us with a video of its "Next Big Thing" slotted for August 20, with rumors of a true, standalone tablet in the works. Wacom has now laid rumors to rest and announced a new line of tablets for mobile creatives. The Cintiq Companion and the Cintiq Companion Hybrid tablets give professional artists and hobbyists the ability to remain productive even while on the go.
HP isn't a name that one would immediately associate with Android and yet the company has managed to release two Android tablets this year already. And it seems that HP has another Android device in its pipeline, although we're not really sure if it's a phone, a tablet, or a phablet.
NVIDIA SHIELD just got released to the public and it's already a huge success, at least according to NVIDIA, who is describing that sales of the SHIELD have been great. The company is planning to ramp production of the gaming handheld soon in an attempt to offset a slightly negative financial quarter.
NVIDIA SHIELD gaming console in the palm of your hand has only been available for a few weeks, and we're already seeing an update for the android 4.2 Jelly Bean powered device. An update has just started arriving on our SHIELD's, which comes in at a quite large 402MB, and apparently fixes some audio issues.
we learned that NVIDIA could be eying their next target. That being the tablet market with a new Tegra Tab 7 device in some trademark filings, which confirmed a 7-inch Tegra 4 quad-core powered Android tablet. Their first own branded NVIDIA SHIELD is already on the market, and now we're seeing our first benchmark results for the new Tab.


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NBCU, AT&T extend distribution agreement
September 14, 2016
NBCUniversal has reached a long-term agreement with AT&T to extend the NBCUniversal portfolio of networks across all AT&T DirecTV products in the US including, DirecTV NOW and DirecTV Preview, AT&T’s new streaming services. AT&T expects to launch DirecTV NOW in the fourth quarter of this year.
Through the agreement, AT&T DirecTV and U-Verse customers will continue to have access to NBCUniversal broadcast and cable networks live and on-demand through linear TV, online, and TV Everywhere apps.
“AT&T is an important distributor and we are pleased they recognise the value of NBCUniversal’s leading portfolio of networks and will continue offering our unmatched lineup of entertainment, sports, news and Hispanic content,” stated Matt Bond, Chairman NBCUniversal Content Distribution. “We are committed to growing our audiences, and we welcome the opportunity to offer our networks on DirecTV NOW.”


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The Future of AR/VR in the Sports Industry
The gaming industry is usually the first industry that springs to mind when discussing augmented reality (AR) and virtual reality (VR). However, aside from interactive entertainment, both technologies also lend themselves particularly well to fields such as real estate and sports.
Augmented reality has actually been around in the sports industry since 1998, when the first virtual down marker was seen on television during a live football game. Today, those bright yellow grid lines are second nature to football fans, seen during every televised game. AR, due to its massive inclusivity, is the first logical step before fully jumping into the virtual world. Many sports teams are embracing AR technology including the San Francisco Deltas, who recently announced a partnership with Verizon, which will allow fans of the soccer team to engage with an augmented reality jumbotron. The Deltas' stadium does not have a jumbotron and due to the cost, the product management team decided to forego the traditional route of buying one. Instead, by utilizing AR technology, fans will be able to use their smartphones as personal jumbotrons to access instant replays, live video feeds and other live in-game content. The implementation of AR is the latest use case in the sports realm, and is just scratching the surface of what is possible.
Aside from widespread AR adoption, the sports industry has found many different ways to incorporate VR into live games - from recruiting future team members to training. Both the MLB and the NBA have utilized VR to enable fans to enjoy live games from the comfort of their own homes without losing the authenticity of attending a game. The VR experience brings fans closer to the action, with multiple cameras placed throughout the court or field, allowing the freedom to choose where to watch the game. Bringing virtual reality into the sports world enables fans to have a more personalized viewing experience that is unique to every game watched. Virtual reality streaming also opens another avenue for revenue for the sports industry. While the MLB did not charge consumers for the live VR game, the NBA took advantage of this previously untapped market by making VR games free to those who subscribed to their League Pass service. As on TV, virtual reality can use advertising to its advantage, in a much more customizable way. Allowing users to interact with ads throughout the live game will give agencies pertinent information to be able to tailor unique ads to specific people.
The incorporation of AR and VR in the sports industry is not just happening at live games. The company, AR Sports incorporates AR into the Fantasy Football drafting process. While this will not replace the draft, it will enhance the drafting process while also encouraging users to get outside. The app works similarly to "Pokémon GO", in that certain NFL players will be able to be "caught" or drafted by having a football thrown at them rather than a Pokeball. Fans will be notified when a particularly in-demand player is near and it is up to them to secure the player for their team. Due to the app's reliance on location, advertisers will be able to use this to their advantage by localizing ads when users are in certain areas. Should a user swipe on an ad a certain number of times while in the app, they may receive discounts or free items, which is a win-win for all parties.
Ever since that first virtual down marker on the football field, it was clear that augmented and virtual reality were going to make waves in sports. Since then, as this technology has grown, it has not only enhanced the sporting world, but also opened up new possibilities for fan engagement and revenue.
Neil Mandt is an Emmy Award-winning producer, and the CEO and founder of both Los Angeles-based production companies, Mandt Bros. Production and MANDT VR. Neil has a wealth of experience delivering award-winning content to television, film, internet and mobile audiences, and is now parlaying his expertise in the field to immersive digital content. In addition to creating over 3,000 television episodes, Neil owns and operates a turn-key production facility in the heart of Hollywood. Neil's notable credits include the development and creation of the hit ESPN series "Jim Rome Is Burning," ABC's "Frozen Christmas Parade," the Syfy Channel's hit series "Destination Truth," Food Network's "The Shed," Speed's "The Car Show with Adam Carolla," Versus' Sports "Jobs with Junior Seau" and daily coverage of the O.J. Simpson trial for ABC News. Most recently, Neil produced the full-length feature film, "Dog Years," starring Burt Reynolds, Chevy Chase and Ariel Winter, which had its premiere at the Tribeca Film Festival 2017. In 2014, Neil was a co-producer and developer of the Walt Disney Pictures feature film "Million Dollar Arm," starring Jon Hamm and Alan Arkin. Neil has also produced and directed a number of award-winning short films starring Bruce Willis, Samuel L. Jackson, Matthew Perry, Justin Timberlake, John Hamm, Seth Meyers, Jamie Foxx and Will Ferrell, among many others.
Related Keywords:Augmented Reality, AR, Virtual Reality, VR
Source:Digital Media Online. All Rights Reserved


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Suitors seeking to buy the troubled air bag maker Takata Corp. are reported to have offered $1 billion to $2 billion.
Each of the five suitors seeking to buy the company have reportedly made the offers, a person with knowledge of the matter was quoted in the media as saying.
The person, who asked not to be identified because the discussions are confidential reportedly revealed to the media that the Japanese company behind the auto industry’s biggest recall ever may be leaning toward three bids. These are the buyout firm KKR & Co. and bumper supplier Flex-N-Gate Corp., Bain Capital and air-bag inflator maker Daicel Corp.
Te source reportedly said that the bids of air bag makers Autoliv Inc. and Key Safety Systems Inc. were made less favorable as they are insisting on the option that Takata should go for bankruptcy even while all five groups have proposed bankruptcy for the Japanese company.
The number of vehicles impacted by air bag recalls could exceed 100 million devices worldwide and this week Takata met with officials from Honda Motor Co. and about a dozen other customers impacted by the recalls. Following the death of a Honda City driver last week in Malaysia, the number of fatalities tied to Takata’s inflators reached at least 16 worldwide. Fatalities occur as the airbags can rupture and spray plastic and metal shards at vehicle occupants on the drivers and the occupants.
While those for Bain, Flex-N-Gate and Key Safety Systems didn’t immediately respond to requests for comment from the media, representatives for Takata, its financial adviser Lazard Ltd., KKR and Daicel declined to comment. An Autoliv spokesman said the company doesn’t comment on speculation.
How to divvy up responsibility for billions of dollars in recall costs and potential legal liabilities stemming from its faulty air bags is the central issue facing Takata’s customers, which also include General Motors Co. and Volkswagen AG.
People familiar with the proposal have said that Lazard has proposed setting up an independent legal fund using contributions from Takata, new investors and automakers. The idea has been reported to have been resisted by Honda, which owns about 1.2 percent of Takata shares and is its largest customer.
Sharing the burden pf legal bills may help the company solidify a sale and would factor in whether bankruptcy would be necessary even while automakers have been reluctant to helping pay Takata’s legal bills. Takata air bags, seat belts and other components generated 718 billion yen ($6 billion) in sales for the fiscal year ended in March and the top priority for automakers is to ensure a steady supply of those products. Dropping the company’s market capitalization to about $290 million, Takata shares have lost nearly three-quarters of their value during the past year. The shares fell 1.4 percent to 355 yen in Tokyo.
(Adapted from Bloomberg)