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Markets took a downward turn in October as the impact of the global monetary tightening cycle, excessive valuations within some asset classes, political uncertainty and issues across emerging market currencies turned sentiment sour. However, we believe this was a sensible correction, not the first leg down in a long-term bear market.
As the current challenges in the department store sector are increasing, the question is whether the department store model, in its current form, is sustainable and relevant in the current retail market. Is its decline inevitable, or can it possibly be reversed? What could be done to address the many challenges it faces and make it fit for purpose in the modern age of retailing?


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US-based Wolverine Worldwide, which also owns Merrell, Sperry and Hush Puppies, has announced job cuts at Sweaty Betty to safeguard its long-term growth.
Sweaty Betty’s owner said the sportswear retailer will now report to its London-based international group, which handles operations outside the US.
As a part of the transition, Wolverine Worldwide will be consolidating its London office space and proposing a UK workforce reduction to better align Sweaty Betty’s cost structure to its other brands.
In a statement, the company said: “This move will more closely align Sweaty Betty with Wolverine’s global centres of excellence.”
Wolverine Worldwide acquired the activewear brand in August 2021.
Brendan Hoffman, Wolverine Worldwide’s president and chief executive, said: “Bringing Sweaty Betty under [president of international] Isabel Soriano and the international group fits perfectly with our strategy to prioritise resources and support to the brands with the biggest global growth opportunities.
“Our regional teams have deep commercial experience in key international markets and are well-positioned to bring their sourcing, logistics, technology and operational expertise to help accelerate Sweaty Betty’s growth.”
Julia Straus, chief executive of Sweaty Betty, said: “These decisions were not taken lightly but are necessary in order to position Sweaty Betty for long-term success.”
Straus is set to leave the business in June 2023 and return to the US. The hunt for her successor continues.
Soriano said: “I am excited about the future opportunities for Sweaty Betty, leveraging the full resources and expertise of our global team to support and enable the brand’s mission to empower women around the world through fitness and beyond.
“I look forward to partnering with Julia as we work through this transition over the coming months.”
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One week after U.S. and European Union (EU) negotiators completed work on a new “Privacy Shield” framework to govern online data exchanges between the U.S. and Europe, members of the U.S. Senate took steps Tuesday to implement the Privacy Shield by adopting legislation that extends privacy protections to digital content transmitted to the U.S. by EU citizens. Passage of the bill, known as the Judicial Redress Act, is viewed as a key element in the finalization of the Privacy Shield, which replaces the 2000 U.S.-EU Safe Harbor agreement on trans-Atlantic data flows invalidated last fall by the European Court of Justice. While the Privacy Shield depends on the enactment of U.S. legislation that guarantees the personal privacy and judicial redress rights of EU citizens whose online content is transmitted to the U.S., the pact also remains to be ratified by the EU member states. Although the privacy protections outlined in the Senate legislation mirror those in a parallel bill passed previously by the House, the Senate measure also includes an amendment specifying that passage cannot impede U.S. national security interests. As such, the Senate version of the Judicial Redress Act must be reconciled with the House bill before the legislation is signed into law.
As House Judiciary Committee member James Sensenbrenner (R-WI) proclaimed that Senate passage of the Judicial Redress Act “brings us one step closer toward completing an important agreement between the United States and our European allies,” Information Technology Industry Council President Dean Garfield lauded the Senate’s action as “a signal to our friends and allies of our government’s continued commitment to respecting personal privacy.” Stressing, however, that “Congress’s work is not done,” Gary Shapiro, the president of the Consumer Technology Association (known formerly as the Consumer Electronics Association) urged House lawmakers “to swiftly approve the amended legislation.”


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Saudi Arabia’s Ministry of Labour and Social Development has said the number of female workers in the retail sector has climbed to 200,000.
The milestone comes as the ministry pushes ahead with plans to ban foreigners from working in shops selling female-specific products.
Faten Al-Sari, acting head of the women’s employment policy and programmes at the ministry, said one key issue women were facing was transportation, according to Arab news.
In a test phase, 400 vouchers for Uber and Careem have been distributed to test whether the apps can provide a viable transportation method for female workers.
The ministry hopes to increase the programme to 150,000 women by 2020.
The kingdom has been trying to create more jobs for women since 2011 but has recently taken more drastic steps to employ female citizens.
On October 31, it will implement the third phase of a plan to limit jobs in shops selling ‘women’s necessities’ in shopping malls, outdoor markets and standalone locations to Saudi women.
Products under this category include perfumes, shoes, bags, socks, read-to-wear clothes and fabrics as well as apartment stores selling women’s clothes.
The government aims to increase the number of women as a proportion of the workforce from 23 per cent to 28 per cent by 2020 and to quadruple the number of women in senior civil service roles to 5 per cent.
However, women in the kingdom still face restrictions as to what roles they can take on and must be provided separate facilities and working space by employers.


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Hilton Burlington Lake Champlain will soon expand amenities for guests and receive a new name: Hotel Champlain.
Rooms in the waterfront hotel were renovated over the past two years and now its lobby, fitness center and exterior will get facelifts to create a more luxurious experience for guests.
The rebrand will transition the 258-room hotel into Hilton’s Curio Collection, which includes more upscale Hilton locations that are personalized to the cities or places they are in. Hotel Champlain will be themed around its namesake, Lake Champlain, because of its close proximity and panoramic views.
“Since the founding of Burlington, the lake has been the center of the community,” general manager Steven McClure said. “We wanted to connect back to that energy and excitement to inspire a new name that better reflects our unique location, views and offerings.”
One of the main upgrades is to the hotel’s fitness center, which will be expanded into a 1200-square-foot “wellness experience” on the mezzanine level. The center will include a yoga studio and high-end exercise equipment including Peloton machines and free weights, with views of the lake in each room. McClure said they plan to have yoga and Peloton classes available to guests regularly. These additions are under construction right now and are expected to be finished in early May, but the hotel’s existing fitness center will be open throughout the construction.
“The views of Lake Champlain are stunning,” McClure said. “You’re not going to find a better sunset view in the hotel.”
Saunas will also be added to the hotel’s outdoor terrace which is on the same mezzanine level as the fitness center, indoor pool and hut tub.
Summer renovations will add a new coffee shop and remodel the hotel’s current restaurant, The Beacon Bar and Lounge, into a more up-scale restaurant. McClure said they’ll still be offering three meals a day during the remodel, but will serve guests in satellite locations around the hotel.
McClure said the new restaurants and the fitness center are to fulfill the needs and desires of their biggest chunk of guests: business travelers. Many of their guests had come from New York, Boston and Montreal, he said, and were there with a group of other people from their corporation or organization.
“Being on the property for multiple days, they’re looking for other experiences within the hotel and it would typically be wellness or higher-end food and beverage offerings,” McClure said.
The hotel will also put solar panels on its roof this summer to power their meeting spaces in an effort to reduce their carbon footprint.
Other exterior renovations will include new signage, a new porte-cochere (where cars can stop to unload baggage) and drive and an outdoor sculpture gallery with fire pits and new furniture.
McClure expects all renovations to be done by late September or early-October.


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NEW YORK: Major consumer trends covering areas like ecommerce, social media and a desire to show individuality will provide opportunities worth $4.5tr to companies worldwide, a report has argued.
Accenture, the consultancy, suggested in a report that ten global shifts in popular habits are set to yield a market worth $2.4 tr in 2013, rising to $4.5tr in 2016.
"Many companies expect to outgrow their national economic environments over the next few years,” said Mark Spelman, a managing director at Accenture.
"To be able to achieve their expectations, companies should look not just to new markets, but also to how consumer behavior is changing and then put in place the capabilities necessary to capitalize on those changes."
In all, the most valuable such shift is related to "connected consumers", a group predicted to be worth $1.5tr this year and $3.1tr in three years' time.
One factor fuelling this trend is a rise the number of people researching products on the internet, with a net 68% of users now doing so more often than three years ago.
Some 63% of people responding to the firm's survey of 10,000 people are also making greater use of laptops and tablets in their personal life, standing at 25% for watching TV on connected devices.
Consumers connecting with firms on social media and buying virtual goods will see a lift from $36bn to $90bn, figures hitting $7bn and $29bn "for co-productive" web users who engage in co-creation, write user reviews and provide feedback to brands.
Another core shift is that of individuality. A net total of 28% of contributors made purchases to "express their personality" more often than three years ago, as did 25% if a product is unique, reaching 19% for custom- or tailor-made items and 17% for "treating oneself to luxury".
This sector will be worth $296bn in 2013 and $364bn in 2016. In a related process, the "experiences" industry is due to grow from $194bn to $400bn in this period.
"Conscientious" consumers are also important. A 54% majority of shoppers consider the ecological impact of their choices more than three years ago, while 25% purchase more local products and 19% increasingly "make rather than buy".
En masse, this class of customer is due to generate $137bn in 2013, growing to $178bn in 2016. Equally, "resourceful" individuals who repair goods instead of buying new ones and resell or exchange products will rise in value from $111bn to $210bn.
Data sourced from Accenture; additional content by Warc staff


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Volumes grew 0.7% in the six months to 31 August, buoyed by 4% volume and value growth in the cider market.
C&C adds that the initial feedback on the “Method in the Magners” campaign, which positioned the brand as unconventional but traditional, was “good”.
The company claims that the campaign also helped return the brand to the top of the ’share of voice’ for above the line advertising spend in its category.
“The positive improvement in the brand health measures suggests that the investment has been effective,” the company adds.
The campaign marked the first time Magners has changed its communication strategy since its launch in 2006.
After initial success, Magners’ sales slumped in the wake of increased competition from brands including Kopparberg.


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As food and paper products fly off the shelves at local grocery stores, several families share how they stay prepared.
The Beachey family of six typically has a basic supply of non-perishable food, paper products and cleaning products. They also have meat and eggs that they raise themselves at their Three Rivers farm.
“Typically, we shop once a week for perishables and sale items, but I think we could go two weeks without a trip to the store,” mother Kayrn said.
In the future, she said, the family probably will continue the same routine, but perhaps keep more specialty items on-hand for dietary needs, such as sugar substitute.
Emma Miller of Three Rivers, a wife and mother of two young children, says she has many non-perishable items in her pantry and shelving unit. Miller buys boxes of canned vegetables from Sam’s Club and has paper towels and plenty of toilet paper.
“I wouldn’t call it a stockpile, but I didn’t have reason to panic,” she said.
She generally orders groceries once a week, although she may go an additional time to the store for fresh items. Bananas and carrots are staples in their house.
She doesn’t feel like she needs to change much in the future.
“I am thankful I stay on top of have extra things,” she said. “It made this past couple weeks not feel as overwhelming in the food department.”
Kristen Cottingham of Three Rivers said she wasn’t one of the ones running out right away to grab all the toilet paper.
“I had what I needed for the week,” she said. “But after seeing everyone else panicking, I thought to myself, ‘I’m not afraid of a shortage, like the stores wouldn't be able to get more supplies, but I was more worried about the hoarders.’ It was people who were panicking that were causing the craze, not the virus.
“I believe if everyone settles down and buys according to their needs, it’s going to be OK and we will all have what we need.”
Cottingham said she has never been one to buy in bulk, mainly because she hasn’t had much storage space in the kitchen or pantry. Since three of the couple’s four children have grown and left, she goes to the grocery store every few days with a short list of necessities.
“I usually have about three to four days of meals to throw together and we do find ourselves eating out more, too.” she said.
“I’ve never been a big fan of cooking — it’s more of a necessity — so food isn’t a big deal to me. I’d rather snack. The past few weeks did cause me to re-evaluate how I do things, but don't think I will change my ways anytime soon.”


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The much-hyped Rodarte for Target collection finally launched — and sold out — yesterday. By mid-day, almost every style was gone online, the good ones having disappeared in the wee hours of the morning. People were already marking up and selling Rodarte for Target pieces on eBay yesterday morning! Doesn’t that seem a little unfair since most shoppers didn’t even get a chance to order the collection at retail price in the first place?
Keep reading »
Zergnet: Simply Irresistible


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Yesterday, Amazon announced that Prime members will now get 10% off hundreds of sale items at Whole Foods locations. Shoppers can simply access their Whole Foods app, sign into their Prime account, and scan the app at checkout.
These new perks for Amazon Prime members will be beneficial to both Amazon and Whole Foods. Whole Foods hopes to see a greater number of Prime members coming through its doors, while Amazon expects current Whole Foods shoppers to join Prime.
Scott Neslin, a marketing professor at Dartmouth, said, “Amazon’s goal is to increase Prime membership. They believe this locks in the customer and induces them to buy more from Amazon.” Gaining new Prime members is important since Amazon is raising the price of Prime from $99 to $119 per year. These new Whole Foods perks are likely to attract Whole Foods shoppers who have been considering Prime but have not made a decision yet.
Currently, only 2% of grocery sales are made at Whole Foods, so the company is trying to increase this number. Amazon already gives 5% cash back on purchases when they shop at Whole Foods and use the Amazon Prime Rewards Visa card. It will be interesting to see how these new Whole Foods and Prime perks play out for both companies.
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The dream of flying cars is still a ways off, but electric cars that need no petroleum fuel to run is a reality, and automotive makers are finally getting close to bringing that reality to a showroom near you.
Perhaps the car creating the most buzz recently is the Chevrolet Volt, a sporty-looking four-door sedan that will run up to 40 miles solely on electric power before a gas engine kicks in to charge the battery, giving an additional 310 miles of range. The ability to fill up at any gas station and the 350-mile total range should help allay the single biggest fear of just about anyone considering an electric vehicle - range anxiety.
The thought of being stranded on the side of the road with a dead battery and no way to charge it has probably made many economically-minded people think twice about whether they really want an electric car. Chevrolet is hoping the ability to charge the battery with an onboard gas engine generator will put customers at ease so they have no worries about having to scurry back home when the battery starts running low.
Vic Sharma, new car manager of Ryan Chevrolet, said the Volt takes about 10 hours to completely charge using a standard household 120V outlet. An optional 240V charging station cuts down that time to four hours.
Gas-electric hybrids have become increasingly popular over the past few years because unlike regular gasoline-powered cars, hybrids get their best mileage during city driving when the electric motor can kick in to supplement the normal engine.
"The one neat thing about the Volt is, unlike the hybrids where it's mostly powered by gas and it kicks the electric motor in back and forth, the Volt, if you're travelling under 40 miles at a time, your gas never kicks in," Sharma said. "So theoretically if you're just going from work to home to work to home, and if it's less than 40 miles per commute, you'll never use a drop of gas."
To prevent gas in the fuel tank from going stale and to keep the engine parts in good working order, the Volt has a maintenance mode that will briefly run the engine after a set period of time if the battery is never completely drained. Another noteworthy aspect about the engine is that it must use premium-grade fuel.
Figuring out what kind of mileage the Volt gets with its gas engine is a tricky proposition. Doing some quick calculations, Sharma said it would get just over 37 mpg if the battery and gas tank were both run dry on a 350-mile trip. However, if the car is charged up again, that adds another 40 miles to the range, and the more the car is charged, the higher the mileage becomes. So it really does depend on the driving habits of each individual.
It still costs money to run the Volt, of course, because electricity isn't free. In North Dakota, however, it is relatively cheap compared to the national average. According to a report from the United States Energy Information Administration, North Dakota had the second-cheapest electricity in the nation in 2010. Idaho had the cheapest rates last year with an average of 7.98 cents per kilowatt-hour, followed by North Dakota at 8.15.
While Sharma doesn't know the exact price it would be for a typical North Dakotan to charge up his new Volt, he did say the cost to fully charge the car for 10 hours is about the same as leaving a single lightbulb on for 24 hours.
The Volt is already on the market in the West Coast, but Sharma said it probably won't get to North Dakota until late summer this year, maybe around July. Buyers will have to pay a little more for all the new technology in the Volt, as it retails for right around $40,000. There is up to a $7,500 government tax credit for purchasing electric cars like the Volt, but buyers would have to wait until tax time to see any of that money. It isn't a rebate, however, and would only go toward whatever taxes were owed the government that year.
The government is contemplating turning the tax credit into an actual rebate that would instantly drop the price of the electric car by the given amount when it's purchased, but nothing has come of that idea yet.
So far only a few customers have been asking about the Volt, but that will probably change once it gets closer to its release in North Dakota. As for what questions those customers have been asking, the answer is pretty simple.
"Basically, when are we going to get them," Sharma said with a laugh, noting he already has a couple of customers who will be ordering one the second Chevrolet allows them to do so.
Of course owning an electric car does have some downsides beyond range anxiety. Anyone who's forgotten to plug in their car overnight knows North Dakota winters can take a toll on batteries. The efficiency of electric cars will take a hit in extremely hot or cold conditions, but it's not as bad as one might think.
"The cold and hot (weather) is going to affect the charge of the battery. From the tests that they've done, they're saying it's not going to affect it by more than about five percent as far as from extreme hot to extreme cold," Sharma said. "Now if you live in, not so much here, but if you live in hilly areas it does take a little bit more juice to get up the hills."
Doing some more quick calculations, Sharma said the five percent loss in mileage during extreme hot or cold weather will equate to only two miles, meaning the Volt will last 38 miles on the battery instead of 40.
"They've tested it in cold conditions, they've tested it in hot conditions, the battery ... for hotter conditions it's air-cooled, for colder conditions it's heated," Sharma added. "The battery is actually warrantied for up to eight years or 100,000 miles if there was something to go wrong with it."
Chevrolet isn't the only company jumping on the electric car bandwagon.
Ford will be introducing an electric version of its Focus sedan, which its Web site states is coming in late 2011. Nissan has already started shipping the Leaf, although in very limited quantities. Unlike the Volt, the Focus and Leaf are both all-electric cars that each have a range of around 100 miles.
While they don't use a drop of gas, drivers do have to remember to plug the cars in every night or risk being stranded on the road with a dead battery the next morning. The Leaf takes around seven hours to charge at 240V, and around 20 hours using 120V. The Focus will take about three to four hours using 240V, while 120V charging times were not available.
Toyota will also be making an electric plug-in version of its popular Prius hybrid, although it will rely on a gas engine for all but the shortest trips. The Prius Plug-in Hybrid, or PHV, will go 13 miles on a single charge before a gas engine takes over and turns the car into a regular hybrid like a standard Prius. The Toyota Web site states the plug-in Prius should be available early next year.
Toyota has opted for a smaller battery to give the car a lower cost than an all-electric vehicle as well as better greenhouse gas emissions than a standard hybrid vehicle. In addition, Toyota states the Prius PHV will only take 3 hours to fully charge with a standard 120V outlet, while using a 220V outlet cuts that time down to 1 1/2 hours.
Jerry Leiss, general sales manager for Minot Chrysler and Toyota Center, said he hasn't fielded too many questions about electric cars as of yet. This might be due partly to how popular the Prius hybrid is, and also partly to the many unknowns about how electric cars will handle a North Dakota winter. He said people don't need to worry about cold weather performance, however.
"People up here are scared because of the cold, they think they might have problems with it because it gets 10, 20 below," Leiss said. "We haven't had any problems with our Prius. They test the thing up in the north country, the cold.
"Years ago they actually tested them up here in the Minot area, seeing how the battery would last through the harsh winters."
While electric cars make up only a small portion of the market at present, Sharma believes that number will go up over time as the technology gets better and the price gets lower.
"They're eco friendly, if they're pure electric you get zero emissions, if it uses a little gas your emissions are way low compared to some of the other cars," Sharma said. "I think electric cars are the wave of the future."


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K Fed Fitness DVD
(dietpixie.com) If you thought the release of the worst single ever, Popozao, was the lowest point in Kevin Federline's 'career'– think again. That's because Britney Spears' ex-husband plans to release a fitness DVD.
He told UK 'newspaper' The Daily Star: "I plan to get back to looking ripped again. I know I have let it all go, but watch me fly this year."
Well, flying is probably the only way K-Fed would get me to watch his fitness DVD, which has been pencilled in for next year.
- more on this story
Click here to read today's full report
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As EPB's manager of fiber services engineering and one of the utility's tech pros, Matt Anderson has been testing EPB's new Smart Net Plus for the past nine months.
Even with EPB's citywide fiber connections, Anderson has found the new Wi-Fi 6 router and Smart Net Plus to be a big advantage in both the speed of internet connections for his family's many home devices and in the controls he has gained over accessing many of the devices, ranging from smart thermostats to school laptops to streaming television sets.
"We were just using a single router for our home, and we definitely saw a real difference and immediately realized how much better the internet was in all of the different corners of our house," Anderson said in a telephone interview. "Everything just seemed to be a lot more reliant, and as a parent, I also really like the parental controls you can set up over when and what is accessed on any device and to have the ad-blocking features this provides."
Anderson is one of EPB's tech pros helping EPB consumers to use the new Smart Net Plus option, which EPB has begun offering this fall for a monthly fee of $17.99 per month in addition to internet plans that start at $57.99 monthly. Customers with 1-gigabit internet plans are eligible for discounted Smart Net Plus at $14.99 per month.
"From doorbells and speakers to TVs and tablets, households require more speed and bandwidth to accommodate the increasing number of devices and streaming apps they use," EPB Vice President of New Products Katie Espeseth said in an announcement of the new service. "Smart Net Plus adjusts to customers' needs and provides the dependable Wi-Fi service they need and access to best-in-class technology and service without the need to keep up with expensive equipment requirements."
The new features with EPB's Wi-Fi 6 network not only improve speed and coverage for Wi-Fi service but also provide apps to allow greater parental controls, ad blocking technologies and additional security protections.
Already, about 500 of the 128,000 customers that subscribe to some level of EPB Fiber services have ordered the new Smart Net Plus service.
"This takes our internet service to a higher level," EPB President David Wade told the EPB board Friday.
Customers may sign up online at epb.com or talk with the tech pros to find out more at 423-648-1372.
"We've tried to make the process of going through this very simple and easy," Anderson said. "Once an installation date is scheduled, we come out, install whatever hardware is necessary, and we take the time to make sure you have good Wi-Fi coverage everywhere you need it and that all of your devices are connected and working."
EPB -- the city-owned electric utility -- expanded into internet, video and phone service in 2009 when it launched EPB Fiber to help build both a smart power grid and its telecommunications services. A year later, EPB helped make Chattanooga "The Gig City" by offering 1,000 megabits per second residential internet speeds (The Gig) -- the fastest citywide internet speeds in the country.
In 2015, EPB was the first utility to offer citywide 10-gigabit service, and earlier this year, EPB again boosted its internet speed capability to 25 gigs.
So far, only the Chattanooga Convention Center has signed up for the 25-gigabit service. EPB's 25-gigabit service is beyond the capacity of most routers, and internet service providers elsewhere may not even be able to handle so much data so quickly. Initially, EPB will charge residential customers $1,500 a month for the 25-gigabit service and $12,500 a month for commercial customers.
"We've had quite a bit of interest but no other customers yet," Wade said. "We've actually had a lot of calls about it from across the country."
While EPB adds its new Wi-Fi 6 service, the utility is also moving during the next year or two to replace all of its first-generation set boxes used for its video service. The EPB television service, which was once subscribed to by most EPB Fiber customers, now comprises less than 30% of all of EPB's Fiber customers.
Wade said many video customers have "cut the cord" and moved to streaming video options, although EPB still has about 38,000 customers of its television service, Wade said.
Contact Dave Flessner at email@example.com or at 423-757-6340. Follow on Twitter at @Dflessner1.


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Mobile game developer King acquires artificial intelligence company Peltarion
STOCKHOLM–(BUSINESS WIRE)–King, a leading interactive entertainment company for the mobile gaming world, today announced the acquisition of artificial intelligence software company Peltarion.
Peltarion is a Swedish artificial intelligence (AI) software company and developer of a no-code machine learning operations platform that allows users to design, train and manage deep learning models in the Cloud at scale and quickly. King’s acquisition of Peltarion will accelerate the current use of artificial intelligence and machine learning technology in King’s gaming platform, a key area of the company’s ongoing strategic direction. With this investment, King aims to continue to develop leading AI and machine learning capabilities and teams, enabling a new generation of innovative game design, development and live operations capabilities and becoming a hub for the world’s top gaming AI talent.
“We are proud to announce the acquisition of Peltarion. Machine learning technology is evolving rapidly, and by increasing our investments in this area, we plan to deliver even more creative content to our 250 million monthly players* (Q1 2022) across the globe. We are confident that the talented team at Peltarion, along with the powerful technology they have built, will help us serve our players even more effectively with more engaging games and content. It’s a step closer to our mission to make the world fun,” said Tjodolf Sommestad, President of King.
Founded in 2004 by Luka Crnkovic-Friis and Måns Essén, Stockholm-based Peltarion is one of Sweden’s most established AI innovators. Crnkovic-Friis and Essén will take on leadership roles at King, focusing on advancing King’s AI and machine learning capabilities and building on Sweden’s AI community and rich history of innovation in this domain.
“This is a monumental chapter in the history of Peltarion. We are thrilled to be part of a great AI success story in the Nordics, especially with Stockholm at its base. We are impressed with King for being the leader. one of the most successful Swedish technology companies and mobile game developers of modern times. The scale and reach of King, with iconic franchises like Candy Crush Saga, perfectly matches our technology. The opportunities with AI seem to be endless, and we look forward to unlocking the potential of working together,” said Luka Crnkovic-Friis, CEO of Peltarion.
“It is rare to find a team with such expertise in machine learning and AI technology, combined with a long history of successfully delivering this capability to many different organizations in various domains and markets. We are privileged to be able to welcome the Peltarion team into the King family. We have an ambitious vision for the future of mobile games. Together with Luka, Måns, the team and their powerful AI platform, we are accelerating our plan to use AI in the way we build and operate our games to deliver that vision and delight our players even more,” said said Steve Collins, King Chief. Technology Officer.
About the King
King is a leading interactive entertainment company for the mobile world. It had 250 million monthly active users in the first quarter of 2022 across web, social and mobile platforms, and has developed more than 200 exclusive games that are enjoyed worldwide through its distribution platforms king.com, Facebook and mobiles such as Apple App Store, Google Play Store, Microsoft Windows App Store and Amazon Appstore. King was acquired by Activision Blizzard (NASDAQ: ATVI) in 2016. King has game studios in Stockholm, Malmö, London, Barcelona and Berlin, as well as offices in San Francisco, New York and Malta.
Peltarion is a leading Swedish AI innovator headquartered in Stockholm. The first “Synapse” platform came out in 2004 and helped companies and organizations like NASA, Tesla, Dell, and Harvard benefit from AI. Peltarion’s vision is to make AI accessible and affordable for more people and creating a platform where people can work with AI without needing the skills of a data scientist is a step towards that vision. . Among Peltarion’s customers today, you will find companies in industries ranging from manufacturing to retail. And the opportunities to do more are growing every day.
Financial terms of this transaction were not disclosed.
*Monthly Active User (“MAU”): We monitor MAUs as a key measure of the overall size of our user base. MAUs are the number of individuals who accessed a particular game in a given month. We calculate the average MAUs during a period by adding the total number of MAUs during each of the months in a given period and dividing this total by the number of months in the period. An individual accessing two of our games would be counted as two users. Additionally, due to technical limitations, an individual accessing the same game on two platforms or devices during the relevant time period would be counted as two users.
Caution Regarding Forward-Looking Statements: Information in this press release that involves King’s expectations, plans, intentions or strategies regarding the acquisition of Peltarion are forward-looking statements that are not facts and involve a number of risks and uncertainties. . Factors that could cause King’s actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include unanticipated product delays and other factors identified in the risk factors sections of the most recent report. Activision Blizzard Annual Report on Form 10-K. and all subsequent quarterly reports on Form 10-Q. The forward-looking statements contained in this release are based on information available to King and Activision Blizzard as of the date of this release, and neither King nor Activision Blizzard undertakes any obligation to update these forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of King’s or Activision Blizzard’s future performance and are subject to risks, uncertainties and other factors, some of which are beyond King’s control and may cause actual results to differ materially from current expectations.


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Neil Salvage, CityGrid Media: The Best Models are Closed-loop
April 18, 2011 | Contributed by: Natalie Wuchenich
Today we got a chance to hear from Neil Salvage, EVP of advertising at CityGrid Media, about the fast rise of mobile technologies developed to drive new customers.
Small business owners today are focused on running their business and not necessarily keeping up with the changing media landscape or trend of the day. They really just want to find new customers. Local Search Association members today are selling a variety of features, but Salvage argued they’re all part of a single product since “the small business owner doesn’t care if his new customer comes from the phone book or the Internet.”
With the fast evolution of products, pure online players weren’t as fast in setting up tracking tools. According to Salvage, the print industry really led the digital industry in this space. As consumers began moving online, pure online players learned the importance of tracking for their advertisers. But the best advertising models today are closed loop (i.e. servicemagic, OpenTable, Groupon) because advertisers know that their ad is really working. Mobile is creating opportunities for new types of closed-loop through lat / long detecting applications, push offers, card-linked offers and mobile payments.
The four key innovations according to Salvage:
1) Metered lines to track the source of customer calls.
2) Reporting dashboards that show business owners the value they’re receiving from their program.
3) Reputation management guidance to navigate and manage the growing consumer review space.
4) Check-ins so businesses know you were there (and show your ads are driving value).
Whether print, online, social or mobile, “it’s all about finding new customers which become repeat customers.”
See our backstage interview with Neil Salvage.


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iPlaySafe, the first sexual health testing app that incorporates status-sharing into its user interface, will launch earlier than planned due to user interest.
Co-founder Georgia di Mattos confirmed to SEXTECHGUIDE that launch plans have been brought forward for the medical app, and that it hopes to tackle the taboo around STI testing and safe sex.
“We are not just building an app, we are building a medical device. We want people to feel confident and rely on the product,” di Mattos told us. “[As such], we will provide accurate results, informed pathways and next steps for every outcome.”
The app will allow for safe play by delivering a medically-assured, comprehensive STI test kit, with each one coming with a uniquely activated identification code. Designed for the sharing generation, users can test and share sexual health profiles, alongside feeding their curiosity for sexuality and play with information packs and additional content.
The platform encourages users to get tested at least once every six months, by displaying a color-coded verification badge on display profiles (specific details aren’t displayed publicly but are available privately to users via a certified medical app).
Once the app has been downloaded, users can order a one-off kit or subscription to a home testing kit made in an accredited lab. After being ordered via the app, the kit is securely delivered to your door. Users will then receive results via their digital, personal profile in the app. From then you have the option to share your ‘verified healthy’ status as and when required.
Green badge holders are subscribers who are automatically sent a test every six months. According to the founders at iPlaySafe, holding this badge indicates that you’re someone who is takes their sexual health seriously, committing to getting tested regularly through the subscription. Blue badge holders are ‘pay as you go’ users, as in, they have tested negative within the past six months with the one-off kit ordered through the app. Red badge holders have not been tested within the past six or more months.
Di Mattos had the idea for iPlaySafe in September 2019, when a friend told her that asking a new sexual partner if he’d recently been tested for STIs was a “mood killer”.
The former architect then got in touch with co-founder Bianca Dunne, who has a medical background as an NHS sonographer, to discuss creating a sexual health app that had the potential to change how we approach talking about testing.
“There are products that get people to do home-testing, but they stop there. No product so far is a sharing platform. I think what differentiates us is really that we’re not just a sexual health testing provider, but a status sharing platform. Because so far people could get testing, but it’s stopped there. We’re the first ones to offer this.”
Di Mattos added that she hoped the app could partner with the NHS in the future, in the same way the British health provider has recently partnered up with healthtech services such as Fettle to provide contraception services.
The app has a launch target of November 2020, the company told us.


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Das Kapitans and Get The Fuck Out Of Dodge have teamed up on the Dodge Does Das Does Dodge Split…
New Songs From Tim Armstrong
Rancid‘s Tim Armstrong is streaming three new songs online under the moniker Tim Timebomb and Friends from an upcoming solo album set to be released digitally on December 11th through Hellcat Records. The new additions include tracks by the names “Bridge Of Gold,” “Harry Bridges,” “Adina,” “The Letter,” and “Indestructible,” “Up To No Good” and “Dark As A Dungeon.”
The release features original and covers performed by Tim Armstrong with a rotating crew of friends and collaborators including Travis Barker, the Hutton Brothers, and others.
Listen to the newest additions below.


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Manchester United 2019-2020 away kit leaked online
EPL By: Ikponmwosa Umweni | 18/05/2019
Manchester United new away jersey leaked online for 2019-2020 season days after officially releasing the home kit.Paul Pogba, David de Gea, Jesse Lingard, Scott McTominay and Luke Shaw unveiled new Red Devils Adidas home jersey for 2019-20 season, which pays tribute to the famous treble of 1999.
Manchester United new away shirt is beige in colour and features black trim black to help the club crest, Chevrolet logo and Adidas stripes stand out including the crew-neck collar is also black.Red Devils' third kit rather than their away one. his is the second time he has come across an unreleased United shirt after he spotted the 2016-17 home shirt at a store in Delhi before it was officially released.


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Rent-to-buy plans prey on the property desperatePUBLISHED: 18 Aug 2014 00:10:28 | UPDATED: 18 Aug 2014 09:43:49PUBLISHED: 16 Aug 2014 PRINT EDITION: 18 Aug 2014
Desperate house buyers and sellers are being matched by intermediaries who cream off large commissions in complex rent-to-buy schemes, according to lawyers and consumer advocates.
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text: The firm said yesterday sales were up from €469m to €523 for the third quarter, and reported clinical nutrition sales up by some 14 per cent. Numico said baby food growth was accelerated in Western Europe from three per cent in 2006 to four per cent in the first nine months of 2007. A spokesperson added: "Numico remains confident that the intended price increases and savings in the variable cost bases will be able to offset the negative impact of higher raw material prices in 2007." The company was unavailable for further comment prior to publication. Royal Numico is made up of two divisions, baby food and clinical nutrition. The news shows that the baby food market is clearly buoyant, having also grown considerably in Numico's interim results. These showed the baby food section saw an 11.5 per cent rise from last year's €916m to €1,013m. Growing food prices have hit every sector of the industry and baby food shows no exception. Growth in the baby food section was driven by 8.2 per cent in volume and four per cent in price, Numico said. Key markets Asia is also a key area for Numico, which saw an increase by 16 per cent in sales. The firm noted that there was "particularly strong" growth in Russia, Indonesia, Turkey and Vietnam. Total sales for the first nine months come to €1,536m. Baby food brands include Cow and Gate and Olvarit. Clinical nutrition also saw a sales boost of 14 per cent, driven mostly by volume. The improvement was also put down to a recovery in the German market, and strong performances across Europe. Royal Numico is currently a target for Group Danone, which made a proposal to acquire the baby food company for €55 per ordinary share in cash in July. This amounted to a total of €12.3bn. The move is expected to propel Danone into a top three spot in major markets for nutrition and infant products. Europe is in the midst of a major round of consultation over a new directive governing baby milk, which aims to improve how infant nutrition is regulated. Broadly speaking the directive aims to make sure the rules governing baby food are equal for all member states.


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Supreme Court Sales Tax Case Could Make Online Shopping Cost MoreOnline shoppers have gotten used to seeing that line on checkout screens before they click "purchase," but a case before the Supreme Court could change that.
Caring4Denver Campaign Aims To Fund Mental Health ProgramsState lawmaker Leslie Herod, a Democrat representing Denver, is appealing directly to City of Denver voters to help people with mental health and substance abuse problems.
Netflix Fights Sales Tax Bill In LovelandLoveland sent Netflix a bill for $116,508.22 in September 2016. Netflix fought the bill, but never heard back from the city, so the two are now fighting in district court.
Colorado House OKs Roads Bill To Ask Voters For Tax HikeColorado's Democrat-led House has passed a transportation bill over objections from Republicans who oppose a proposed state sales tax hike.
Proposed Sales Tax Would Help Widen Busy Stretch Of I-25There's a push to widen Interstate 25 between Castle Rock and Colorado Springs, and some lawmakers say they know how to pay for the project.
Summit County Voters Approve Workforce Housing FundVoters in one Colorado resort community have voted yes to pay for more affordable workforce housing through an increase to sales tax there.
Colorado Springs, Greeley Raise Sales Tax For RoadsShoppers in Colorado Springs and Greeley will pay more starting next year after voters in both cities approved sales tax hikes that are expected to bring in millions of dollars for roads.
3 Cities Sue Adams County Over Recreational Pot TaxesThree suburban Denver cities are suing Adams County to stop it from collecting taxes from recreational marijuana businesses already being taxed by the cities and the state.
Returned Items At Walmart May Not Include Taxes In RefundThose who purchase items at Walmart may not be getting all their money back when returning items. Walmart admits they have been shortchanging customers when it comes to taxes.
Colorado May Soon See Benefits Of Recreational Marijuana SalesThe state of Colorado may soon reap the benefits of recreational marijuana sales.
Online Sales Tax Has A Better Chance This Time AroundOne of the benefits of shopping online is consumers often don't have to pay sales taxes, but a couple of bills at the state House would change that.
Civil Unions Headline Final Stretch For LawmakersPoliticians are prone to putting off tough decisions until the last possible moment.


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Jetpack Distribution has sealed a major deal with South African SVOD service Showmax for a package of over 150 hours of kids content.
Some of the titles covered by this deal include: Kitty Is Not A Cat; Rainbow, Butterfly, Unicorn, Kitty; The Barefoot Bandits; Talking Tom And Friends; Jamie’s Got Tentacles; Becca’s Bunch; Yoko; Our Family; The Baby Club; Pop Up; The Cul De Sac; and Katy. They will launch on Showmax in 2020 and 2021.
“Our business has fundamentally changed over the past few months with SVOD usage jumping dramatically, and kids’ content in particular has been extremely popular”, said Showmax’s Head of Content Candice Fangueiro. “The timing for this deal, which adds a wide range of new kids shows, couldn’t be better, and it’s a perfect complement to the total revamp of the kids section that we recently completed, giving parents full control over what their kids can see.”
While Jetpack Distribution CEO Dominic Gardiner added: “In the last few years, we’ve been increasingly focused on building a rich and diverse catalogue, one that spans beyond our heartland of comedy animation; breaking new ground where possible. This deal demonstrates that we can offer a great deal of choice and variation for one network. While consistently delivering high quality and enduringly appealing content.”


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NBA 2K15 Soundtrack Curated by Pharrell Released [Audio]
When a new video game is released one aspect that always seems to get overlooked is the soundtrack. This isn’t the case for the 2k’s NBA franchise.
The longtime series has dominated the basketball gaming world with their smooth gameplay and stunning graphics and not to mention amazing soundtracks. For this year’s installment with MVP Kevin Durant as the cover athlete, 2K recruited grammy award winning artist, Pharrell Williams, for assistance with the music. The playlist consists 27 songs varying from 90’s hip-hop throwbacks like A Tribe Called Quest’s “Scenario Remix” and Lauryn Hill’s “Doo Wop” to more recent hits such as Lorde’s “Team” and OneRepublic’s “Love Runs Out.”
Check 2K15’s Spotify playlist below:
Clap your hands if you’re happy that “Happy” won’t be on it.
NBA 2K15 is set to hit stores on October 7.


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Southern Co-Operative supermarkets will begin trialling the sale of out-of-date food for just 20p each.
As reported by Mirror Online, the move is intended to raise awareness on what is and isn't safe to eat, and to decrease food wastage across the country.
Co-Op announced that they will be trialling the new scheme at 11 stores across the south of England, and if successful, they might expand to other areas of the country, including to Essex.
Dubbed the 'Reducing Our Foodprint', the scheme will see food like tinned fruit and veg, dried pasta and rice, confectionery, selected condiments, sugar and sweeteners, coffee, tea and jams that are past their labelled 'best before' date sold for just 20p per product.
The scheme will also include fresh fruit juices and soft fruit, but won't include meat or dairy.
For the latest updates in your area, type your postcode below.
Gemma Lacey, director of sustainability and communications at Southern Co-op, said: "People are more aware than ever of the impact of unnecessary food waste.
She added: "We hope this will also raise awareness that there are products in the back of people's cupboards which don't need to be thrown away.
"We have some ambitious climate action targets over the next decade as we aim to reduce greenhouse gas emissions from our direct operations by 50% by 2030, compared to 2019.
"This will build on the initial work we did to reduce our emissions by 27% in 2018 compared with 2012. We hope more businesses will join us and together we can start to make an impact on climate change."
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What stores are included?
The extended trial will run for 12 weeks at the following Southern Co-operative Food stores.
- Widcombe Hill, Bath
- Salisbury Road, Blandford
- On Avon's Winsley Road, Bradford
- Nunney Road, Frome
- High Street, Lambourn
- The Square, Mere
- Crosier Close, Old Sarum
- Beaufoy Close, Shaftesbury
- High Street, Shrewton
- Station Road, Sturminster
- Mudford Road, Yeovil


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Thanksgiving Dinner Costs In 2021 To Be The Highest In History
Get ready to hold your wallet.
Thanksgiving Dinner cost for a Family of 10 in 2020 was an average total of $46.90. An all-time record low.
This year, Thanksgiving dinner will be the most expensive on record, with every ingredient, from stuffing to all other fixings costing much more than ever before.
The cost for a Turkey alone in 2021 will be $100 or more.
Here’s the harsh reality. Farmer Jake Stevens of Fire Creek Farms in Livonia, New York, tells The New York Post the turkeys he is selling to customers for their Thanksgiving dinners cost upwards of $100. Fire Creek Farms has had no choice but to increase its price per pound for this year's turkeys by $6 -- a 20% hike.
The culprit this year is a broken supply chain, coupled with record inflation that is driving up food costs. In a recent FinanceBuzz survey there may be smaller Thanksgiving gatherings this year.
According to a survey, 63% of Americans say the rising cost of food will "impact" their plans for the annual holiday dinner.
According to data from the United States Department of Agriculture, prices for food prepared at home rose 1.1% from August to September and are up 4.5% compared to the same time last year.
The increase in consumer food prices is the highest it has been since 2011 when the annual increase was 4.8%, according to the agency.
The food prices we’re currently paying sure seems a lot higher than this.
What a difference a year can make.
Each year, The American Farm Bureau estimates the cost of Thanksgiving dinner. In 2020, Thanksgiving dinner was the cheapest it's been since the survey started 35 years ago.
This year it will be the most expensive ever.
Regardless, we wish you and yours a very Happy Thanksgiving.
SOURCES: United States Department of Agriculture, New York Post & FinanceBuzz.
17 Retail Stores Staying Open on Thanksgiving in NJ
25 Stores (and Restaurants) You're Demanding at Hamilton Mall in Mays Landing, NJ
Check Out What Kind of Properties $250,000 Can Get You in New Jersey


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BEGIN ARTICLE PREVIEW:
POMPANO BEACH, Fla., Oct. 15, 2020 /PRNewswire/ — Florida-based IC Realtime LLC has welcomed two new international marketing partners in a leap of faith up and during the COVID-19 recession.The new firms are Minnesota-based international business development and marketing firm The BIG Corp and Caribbean/Latin American marketing company Polaris Controls.
“Our business is already international, but adding these new stellar marketing talents will help us grow that even more in 2021,” according to IC Realtime founder & CEO Matt Sailor.
IC Realtime was an early adopter of AV integration and control technologies, building in compatibility with top control systems like Savant and Crestron directly into their operating software. Now a fellow industry pioneer is joining IC Realtime.Pete Baker, a 30-year electronics industry veteran, has proven his ability to grow sales and manage businesses. At Remote Technologies Inc. (RTI), Baker spent 12 years building the brand globally. His strategies achieved a 2,900% sales increase. In 2018, Baker founded BIG (Baker International Group), which provides business development, global expansion, sales, and marketing for companies in the CE industry.”IC Realtime is the typical tech firm that spends all its time & resources making excellent products so never have the time to promote them. …
END ARTICLE PREVIEW


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TDK Goes Green With Smaller Energy-Efficient Tech
Japanese electronics company TDK is setting plans to be more energy-efficient in its means of productions in order to pass the potential for being green down to consumers with lighter, smaller and more environmentally friendly products.
TDK president Takehiro Kamigama held a briefing on the company’s business plans yesterday, stressing the goal to “achieve more CO2 emissions reductions through the contribution of its products to society than through cuts made via production,” by the end of the 2020 financial year.
But lowering CO2 emissions is also seen as a plus for promotions sake against cheaper production houses in China.
“It is easier to differentiate from Chinese manufacturers in terms of environmental performance,” said Kamigama.
While Japanese companies like Toshiba, Panasonic and Sharp are big players in clean-energy hardware, Japan is still behind China as the biggest solar panel manufacturer in the world. The catch is that the country exports more solar panels than it uses domestically though.
Beyond the basic consumer product level, the company’s power product division, TDK-Lambda, recently developed energy-efficient power supplies for light industrial equipment and broadcast equipment as part of its green agenda.


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Don't miss this week
Waitrose has notched up a record grocery market share as its sales outperformed the market, the latest Kantar data showed.
Read the Retail Week John Lewis special anniversary issue as a fully digital edition.
Debenhams has revealed a 20.6% slump in full-year group underlying pretax profits as deep January Sale promotions dented margins.
Retail news round-up on October 23, 2014:Tesco confirms it has overstated profits by £263m as chairman prepares to stand down, Debenhams profits slump 20%, Number of staff per store falls to record low
Debenhams boss Michael Sharp insisted it would not resort to knee-jerk discounting over Christmas despite the unseasonably warm start to the season.
Value fashion powerhouse Primark has struck a deal with US giant Sears to lease space for seven stores in the country.
Department store chain Fenwick has hired former Tesco executive Christine Cross as a non-executive director as it bolsters its board.
Westfield Stratford is the location for the first John Lewis opticians, which opened this morning in a tie-up with glasses and sunglass company Luxottica.
Debenhams has taken inspiration from supermarket displays for its Oxford Street flagship store’s windows.
Powerful poster campaigns are few and far between these days so when they do appear, as in HoF’s latest ad, they are all the more striking.
How many additional areas can be added to a department store’s core competence without compromising the whole enterprise?


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#Sidney's Picks: Walmart "Black Friday" Strike Edition
Walmart workers vowed to strike or protest at over 1000 stores nationwide this Black Friday, the busiest shopping day of the year. This week on Sidney’s Picks we bring you the coverage of the strike and commentary on this historic action.
- Josh Eidelson is live-blogging the strike for The Nation.
- Think we have to choose between cheap tube socks and fair wages? Think again. A report by the policy shop Demos shows that the nation’s retailers could boost the salaries of their lowest-paid full-time employees to $25,000 a year, lifting 700,000 people out of poverty, by raising prices just 1%.
- Robert Reich of the American Prospect on why you shouldn’t shop at low-wage, non-union, litigious Walmart.
- How big box retail has reshaped our economy for the worse.
[Photo credit: Wander Mule, Creative Commons]


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Crestron today announced a new addition to its growing line of unified communications (UC) tabletop conferencing technology: the Crestron Flex MX. [related]
The Crestron Flex MX, which the company touts as “the first product to offer both native and bring-your-own-device (BYOD) capability,” will provide users with “the flexibility to connect with anyone on any platform from any space,” according to the company announcement.
“Our focus has always been on delivering innovations that simplify workflows and help people be more productive,” said Crestron executive VP of product and technology Ranjan Singh in the company announcement.
“Collaboration is key to a successful workplace, so it only makes sense that workplace technology be collaborative as well,” said Singh.
Crestron Flex MX “offers organizations the unique flexibility to run native Microsoft Teams (UC-MX150-T) or Zoom Rooms (UC-MX150-Z) software, or switch to BYOD mode for all other conferencing software.
For organizations standardized on Microsoft Teams or Zoom Rooms, Flex MX delivers those native experiences, while guests can plug in their laptops and use whichever software they’re already running on their devices.
This eliminates the concern that a meeting room will not support a user’s call.
More About Crestron Flex MX
Flex MX “simplifies connection to the room display, requiring just a single cable,” according to the Crestron announcement.
Other key features include:
- HDMI and USB connectivity for content sharing and video conferencing
- An intelligent camera with a 150° field of vision
- 360° quad microphone array
“The Crestron Flex Series, and specifically the new Flex MX models, eliminates one of the major impediments to smooth and productive meetings – attendees using different UC platforms,” said Joe Sarrasin, director of strategy, UC for Crestron, in the company announcement.
“The Crestron Flex Series is the only product line on the market that enables people to work together, regardless of location or web collaboration application, and this is the definition of the future of the workplace,” he said.
The Crestron Flex line of products “includes solutions for every type of meeting space, from private offices and small huddle rooms to boardrooms,” according to the company announcement. Solutions include smart soundbars, desktop phones, and audio/visual tabletop conferencing.
No Jitter will be hosting a webinar with Crestron and industry analysts to discuss the new features in real time on Wednesday, May 6 at 11 a.m.
Crestron Flex MX for Microsoft Teams will be available on May 22. Crestron Flex MX for Zoom Rooms will be available this summer.


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Earlier this week, Birdman and Larry Johnson of Apple Music confirmed that they’d closed a new “deal,” but wasn’t direct with what the deal was. Months after Birdman stated that a Cash Money Records film is in the works, we learned that CMR and Apple Music are teaming up for a documentary.
The doc is about Cash Money is releasing a documentary on Birdman and the rise of Cash Money Records. Now, we have the first trailer for the film as it traces Slims and Birdman’s roots in New Orleans to creating one of the most successful record labels to date. The film will be released this fall. Watch the trailer below.
— Apple Music (@AppleMusic) August 19, 2016


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The U.S. economy expanded at an annualized rate of 2.2 percent in the first quarter, a slower pace than expected, keeping the recovery on track but failing to generate enough activity to knock down the jobless rate significantly.
This first estimate will be revised later, but economists in various surveys had expected gross domestic product growth - the output of all goods and services, from cars to electricity to manicures - at 2.5 percent to 3.2 percent annualized.
"In reviewing the numbers, the fear now is that we may be running out of runway before the onset of another recession. We will not be surprised to see continued growth in GDP given the fact that privately held companies continue to grow at a healthy rate," said Brian Hamilton, CEO of Sageworks. "However, what is becoming slightly concerning is that the unemployment rate is not decreasing at a fast enough rate. "
GDP growth was 3 percent in the final three months of 2011. Much of the growth in the October-December quarter was due to businesses aggressively restocking their supplies. The pace of restocking is expected to have declined last quarter.
Historically, Hamilton noted, it has taken approximately 12 to 20 months for unemployment to fall in an expansion to roughly pre-recession levels. "Right now, we are into the 34th month of the recovery, and, yet, unemployment remains too high. If we don't get employment up, we may be bumping into the next recession, during which time we cannot expect job growth."
The January-March quarter likely benefited from the milder-than-normal winter. It probably led consumers and businesses to step up spending earlier in the year than they typically do. Consumer spending, in particular, is critical because it accounts for about 70 percent of economic activity.
Many economists predict growth will strengthen in the second half of this year because they think hiring will continue to improve. Job growth has helped drive the unemployment rate to 8.2 percent in March from 9.1 percent in August and given households more money to spend.
"I am looking for steady but not spectacular growth this year," Joel Naroff, chief economist at Naroff Economic Advisors, told the AP. Naroff thinks the economy will grow 3 percent for all of 2012.
That would be nearly double the anemic 1.7 percent growth in 2011. The economy expanded 3 percent in 2010, the first full year of the recovery after the Great Recession officially ended in June 2009. In 2009, economic output had shrunk 3.5 percent.
The Associated Press contributed to this report.


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Sky has announced it is to launch a "ground breaking, easy and affordable" new service enabling UK and Irish consumers to access music online.
The new service will mean that, for a monthly subscription, music fans can listen to songs on an on-demand, streaming basis and download tracks to listen to later and "to own forever".
With a range of subscriptions due to be offered, Sky says downloaded tracks will work on any MP3-compatible fixed or portable device, including iPods, MP3 players and mobile phones, which suggests the songs will be DRM-free.
Universal Music Group is the first of the big four labels to confirm its participation in the service, which will offer digital access to hundreds of thousands of songs from Universal Music artists.
Sky is in discussions with other music companies, both majors and independents, and expects to announce further partners soon with the service scheduled to launch later on this year with all details to be confirmed then.


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The Bureau's business advisory for 1991.
Recent figures further illustrate the debt dilemma. It was reported that during the third quarter of 1990, debt interest payments by businesses reached a new postWWII high of 28.8 percent of cash flow. Expectations of subpar personal savings, falling real corporate profits, and squeezed governmental budgets make the outlook for unraveling this restrictive web of debt especially problematic during 1991.
In the face of a much deeper and prolonged recession, last year's axiom-surviving the slowdown (now, the recession) with effective debt management-will most likely ring even more true during 1991.
Here are some other axioms to consider in 1991:
First, keep close tab on inventories. Bloated inventories could quickly translate into a cash flow problem that would further aggravate a company's debt situation.
Second, justify capital spending projects based on their ability to significantly improve productivity and, thus, lower cost. Lenders are expected to tighten lending standards and to be overly sensitive to any hint of an assets/liabilities imbalance on a company's balance sheet.
Third, reinforce and continue to emphasize energy environmental conservation measures where feasible. During the decade of the 90s, efficient use of energy and sound environmental practices are going to be two of the key factors that are most likely to help improve productivity and help maintain America's global competitiveness.
Finally, a recent article in the Wall Street journal attributed a group of Japanese businessmen with unintentionally contributing our last axiom for 1991. In an ironic and uncanny sense, the japanese businessmen may have pinpointed the first axiom for economic survival for the entire decade of the 1990s.
The journal article described how Japanese businessmen currently view the shaky American economy. The operative question presented to the Japanese businessmen related to their fears concerning the aftershocks to the Japanese economy from a recession in the U.S.
As portrayed by the interviewer, the japanese, in their typically low-key, diplomatic manner, let it be known that the thou t it was presumptuous of the interviewer to imply that they had anything to fear from an American recession. They had already concluded that the American recession- necessarily be bad for the Japanese economy. In fact the prevailing consensus among the businessmen was that a depressed American economy presented a "golden opportunity to increase their company's market share in the U.S."
So, as the ever-darkening clouds of recession engulf the U.S. economy, it is going to be difficult to convince American consumers and businessmen that there could possibly be a silver lining.
With recessionary tendencies spreading throughout most of the global economy, America will increasingly be viewed as a safe harbor. Successfully weathering the coming recessionary storm should help strengthen the U.S. economy for the future.
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|Title Annotation:||Memphis State University's Bureau of Business and Economic Research|
|Date:||Dec 22, 1990|
|Previous Article:||The national economic outlook.|
|Next Article:||Tennessee Valley feels tremors of Middle East crisis.|


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Avago Technologies Ltd.'s AVGO, +0.34% fiscal third-quarter income grew 0.7%, aided by lower operating costs and slightly higher revenue.
However, the chip maker's shares slid 4.1% after hours to $35.40 after the company predicted downbeat fourth-quarter revenue. As of Thursday's close, the stock was up 28% so far this year.
For the current quarter, the company predicted revenue to be flat to up 3% sequentially, implying an estimated range of $606 million to $624.2 million. Analysts polled by Thomson Reuters most recently expected $635 million.
The company, which makes chips for products ranging from cellphones to computer servers, has seen its revenue growth slow in recent quarters as its industrial customers pared inventories.
For the quarter ended July 29, Avago Technologies reported a profit of $145 million, or 58 cents a share, up from $144 million, or 57 cents a share, a year earlier. Excluding share-based compensation and other items, earnings rose to 72 cents from 68 cents. Analysts recently projected 63 cents.
Net revenue edged up 0.5% to $606 million, in line with the company's May projection of about $594.3 million to $611.7 million.
Gross margin narrowed to 48.7% from 49.3%. Operating expenses shrank 4%.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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DISPATCHES FROM ZENITH GLOBAL DAIRY CONGRESS
'Be proud' of packaging sustainability efforts, dairy brands urged
On stage at the Zenith International Global Dairy Congress in Istanbul last month, Barnes claimed that around 65% of US consumers take sustainability into account when making purchase decisions.
Speaking with DairyReporter.com off stage, she said that while consumers are interested in making sustainable choices they don't always have the necessary information to do so.
"The message is very, very clear. They want more information from brand owners about what is that's sustainable about their packaging," she said.
Social media platforms such as Twitter and Facebook are the best tools to educate the public, she added.
"There is so much one can do - practical concrete things that we know will reduce the carbon footprint."
"And then, having done that, you have an amazing story to tell your consumers. So go out and tell them because they won't know that you as a brand owner have a very special HDPE jug out there unless you tell them. So be proud," she said.


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Muslim Clothing Companies Flourishing in Southern California
Islamic clothing is getting a bit more hip in Southern California.
Home to one of the largest Muslim communities in the nation, the Southland has become fertile ground for a new generation of designers crafting clothes for women who are limited by faith and conviction from flashing too much skin.
Although Muslim women have been dressing fashionably for years, many in the U.S. say they still face tricky challenges when getting dressed — and especially dressed up.
“We are Muslim and we can still express ourselves, be fashionable, as long as we do it in a halal way” or in keeping with Islamic law, said LaTanya Maassarani, 30, a postal carrier from Long Beach. “But unless you have lots of money or lots of time to shop, it’s been hard for years to find clothes in America that aren’t dowdy.”
Filling that void now are designers such as Afra Said-Ahmed and her sister Eiman Ahmed, both Muslims, who launched Irvine clothing company Mohajababes. The name is a mash up of the words “babe” and “Muhajiba,” or one who wears a hijab scarf.
“Trying to conform to Muslim dress codes, you get stuck in a rut of black, black, black all the time,” said Ahmed, 26. “It’s definitely very difficult, especially in the U.S. You want to fit in, but still be appropriately dressed.”
So she and her sister scraped together $2,000 and began selling caftans and rhinestone accessories for head scarves at the end of 2011. The line is modest — caftans sweep the floor and hang loosely on the body. Yet the jewel-colored clothing comes with feminine frills such as silky fabrics and metallic embroidery.
Said-Ahmed said their goal was to dress fashion-conscious shoppers who are faithful to Islamic mandates but want nothing to do with traditional black coverings such as abayas and burkas, which are too hot for the California sun.
“There is a huge market here for Muslims who can’t access clothing like this,” she said. “People were saying, ‘Oh my God, that’s amazing. I have been looking everywhere for this.’”
Local designers in Irvine, Long Beach, San Diego, Newport Beach and Los Angeles are opening stores, showing off wares at conventions and sending models down runways in the Southland.
Is Pamela seething and shrieking about this yet?
There is a cute little boutique in Dearborn that I used to drive past last year, called “Hija Bee.” It’s not on my way any more, but I thought about going in there and buying something when Terry Jones and his gang of fascists were in town.


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Here are seven surefire ways to fuel warehouse productivity ...
Two for Tuesday! ✌
Challenges for shippers aren’t going away anytime soon. When will the pendulum finally swing in their favor?
Employee engagement and improving warehouse processes go hand in hand.
Growth in e-commerce could also lead to greater demand for warehousing space and material handling.
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A new joint-study from ARC Advisory Group and DC Velocity points to a key takeaway for the future of warehousing.
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According to a new report from Quinyx, nearly 20% of logistics professionals have gone to work while sick since the outbreak of COVID-19.
Research indicates the ideal business strategy in a period of economic contraction is to take advantage of the slowdown to increase efficiency and improve systems with less disruption. Rather than sla
According to the March Logistics Manager’s Index (LMI) report, the logistics sector showed strong growth last month as the supply chain kicked into high gear to support consumer demand for supplies am
Right now, a digitally-enabled sales model and supply chain is more important than ever. B2B companies need to make sure that they can deliver these five critical capabilities.
Attending MODEX next month? PathGuide will be there! Be sure to catch the keynote on March 11, during which MHI will preview its 2020 Annual Industry Report, "Embracing the Digital Mindset: Connecting
Warehouse innovations are in direct conflict with the generic, preconceived and outdated views of warehouse work as difficult, laborious and a low-paying.
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What's next for the warehouse worker? Will automation replace them and will they soon be obsolete? Here's a great blog post that examines just that.
While things like efficiency and accuracy should be prioritized in warehouse operations, ensuring worker safety is paramount. Here’s how the Occupational Safety and Health Administration plans to adva
Demonstrating your commitment to quality service begins in the warehouse, and companies should extend this engagement by communicating with customers (especially in the post-purchase phase) to build t
Past success is just that - in the past.
WMS or ERP. Which one is better?
To achieve comprehensive visibility across departments and systems within an organization, supply chain execs should invest in smart-data technology.
Next stop ... Encounter '19!
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The e-commerce revolution has transformed warehouses into next-gen logistics hubs. Read on to learn 8 ways warehouse construction has evolved as a result.


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Money Shop owner receives bid approach
Dollar Financial UK, the owner of payday lender The Money Shop, says it has received a bid approach from an unnamed suitor.
The firm said the offer would be considered "in the normal manner".
Dollar Financial also operates online lenders Payday Loans and Payday Express, as well as the pawnbroking firm Suttons & Robertsons.
The company has been put up for sale by its American owner following a difficult few years.
A clampdown on payday lending in the UK has led to lower profits, with the firm admitting to tougher trading conditions.
Loan charges were capped by the Financial Conduct Authority (FCA) in January 2015.
Since then the firm has closed hundreds of Money Shop branches, reducing the numbers from more than 600 to 230.
A spokesperson for the company said: "Dollar is aware of current media speculation regarding [the] sale of the business.
"An approach has been made and will be assessed in the normal manner. In the meantime, such discussions are a commonplace of business, and for the moment remain confidential between the parties involved."
Just over a year ago the company was ordered to repay £15.3m to customers who had been over-charged for loans. Dollar Financial UK says that it has now changed the way it operates.
The company, which is currently owned by the US firm DFC Group, is a major sponsor of Wolverhampton Wanderers football club.


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MSNBC, By Aliyah Frumin, September 17
When it comes to Iran, former Hewlett-Packard CEO Carly Fiorina has cast herself as a tough-on-Tehran hawk. But as the Republican presidential candidate gains momentum, questions over the technology company’s past dealings with the Middle Eastern country – when Fiorina was at the helm – could come back to haunt her.
Despite a trade ban with Iran, HP reportedly used a Dubai-based subsidiary beginning in 1997 to sell hundreds of millions of dollars of products to the country. In fact, by 2007, HP printers made up 41% of the total market share in Iran. The story was first reported by the Boston Globe in 2008 and became a thorn in Fiorina’s side when she challenged Democratic Sen. Barbara Boxer of California in 2010.
Boxer brought up the issue to msnbc on Wednesday night just before the debate. “What’s incredible is when she was the CEO of Hewlett-Packard, they were actually selling printers to Iran and there was an executive order that said no. And the [Securities and Exchange Commission] caught them. So she’s got so many problems. I say if the Republicans choose her, we’ll walk into the presidency.”
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The Association of Equipment Manufacturers (AEM) has sent a letter to the nine members of the House Democrats' Trade Working Group emphasizing the need to pass the United States-Mexico-Canada Agreement (USMCA). Doing so will ensure duty-free access to two of America's largest export markets. This is necessary to guarantee competitiveness for the manufacturing industry.
USMCA would replace the previous North American Free Trade Agreement (NAFTA). Each country's leader has signed the agreement, but it is currently awaiting approval by the U.S. Congress.
AEM sent its letter to the working group in the hopes of quickly finalizing and ratifying the agreement.
“Reasserting our nation’s commitment to duty-free trade with Canada and Mexico provides certainty to all U.S. businesses required for long-term planning and investment decisions...Working families, farmers and ranchers, businesses including equipment manufacturers, and all Americans are waiting for Congress to approve the agreement so our entire economy can benefit from the USMCA,” states the letter.
The letter notes the benefits a trade agreement such as USMCA provides to equipment manufacturers and the 1.3 million men and women in the industry which it effects. It also highlights the benefits it would provides U.S. farmers, working families and the broader U.S. economy. The Democratic representatives assigned to the Trade Working Group were tapped earlier this year by House Speaker Nancy Pelosi (Calif.-12) to review and revise concerns with existing labor, environmental, enforcement and pharmaceutical provisions in the trade agreement.