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With Google Maps – the widely used navigation and location service – now going through a major transformation to become more than just a mere routes guide, the future is shaping up to be quite promising. As a recent news item, Google has entered into a partnership with members of the elite media, including the New York Times, Lonely Planet, and Infatuation, to feature conceived lists of restaurants and places to visit of the given selected popular holiday destinations in the US and Canada. This partnership is an important step for Google to ensure that map users can access the entire trip experience conveniently and from a single source.
Partnership with media outlets
Working together with partners gives meaning to the role that the Maps website can play after the simple navigation hints are done. In collaboration with reliable providers such as the New York Times and Lonely Planet, Google Maps users will now have curated lists of popular restaurants and attractions across different cities. In light of this, the expectancy of travel places will be increased.
By introducing this feature, Google has shown that it is dedicated to providing nothing but the best and most informative content to its customers. This is why they will be the number one provider of location-based services for as long as they exist.
Furthermore, Google Maps will reveal recommended curated lists from its partners and AI technology to generate personalized user recommendations and insights. This cutting-edge technique employs AI algorithms for creating preference-based up-trending restaurant lists and hidden gem suggestions based on people’s tastes and checklists The Director of Product Air Duchi at Google Maps, explained how Google is intensifying AI applications to translate personalized experiences for its users, thereby elevating the quality of Maps.
Expansion of AI features and future roadmap
Google announced that it intends to expand the scope of the generative AI features in its Maps, attempting to make navigation less regular and more conversational for users. The characteristic is currently available to limited elite users as a part of a beta launch, and This will subsequently be available to a mass customer base. Duchi talked about how Maps is dedicated to continuous improvement and innovation, and integration of AI will enable Maps to be more responsive and intuitive, adding to the conversational flavor of the platform with which users can engage and interact.
Moreover, even while cooperating with broadcasters, Google intends to work with independent content sources- like travel bloggers or local guides- to decorate its Maps service. Lately, Duchi (head of Google Maps) articulated Google’s purpose to fill the project with contributions from multiple people, stressing how vital Google Maps’ community engagement and feedback from its users are to achieve maximum outcomes Moreover, Duchi was not specific about the specific agreements with partners for content providers, however, had repeated that they were looking for a win-win ecosystem that benefits the consumers and the creators.
Google Maps is evolving progressively; the company is reaching the mass media platforms and adopting generative AI technologies to offer the best experience. Within the context of mapping, through providing curated content, providing users personalized recommendations, and connecting with content creators, Google uses Maps as a comprehensive worldwide travel companion for users. Once the business develops and launches new and unique services, users can look forward to a better user interface and increased engagement with Google Maps.


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New quarterly index to survey Hong Kong consumers’ fintech adoption
Fintech applications have flourished across the world in the last decade. To further understand the trend in Hong Kong, PolyU’s School of Accounting and Finance has joined hands with AI investment trading start-up Asklora to release the inaugural Fintech Adoption Index (FAI), the first locally developed index to measure Hong Kong consumers’ fintech adoption and impact.
Led by Dr Jingran Zhao, Associate Professor of the School of Accounting and Finance, Mr Jack Poon, Professor of Practice from the same school and Mr Stephen Joon Choi, Co-founder and Chief Technology Officer of Asklora, the FAI project surveyed the adoption of key fintech applications including virtual banking, mobile payments, online brokerage, digital insurance and cryptocurrency by over 1,000 Hong Kong residents.
Overall, the FAI was measured at 55, which captures both the proportion of respondents adopting fintech products and the spectrum of fintech services they adopted, with 51% of them identified as active fintech users. The survey also found online stock brokerage has the second-highest adoption rate among all the fintech applications but ranked second-lowest in terms of active usage rate.
Dr Zhao explained that the results show fintech companies still have more work to do in order to convert new users to active users. Mr Poon added that the use of fintech services is translated into true adoption only when consumers actively use and benefit from it.
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Grand Theft Auto V is a radical re-creation of the GTA series.
Rockstar Games announced that the latest release of the Grand Theft Auto series of games will be on the market early next year.
Grand Theft Auto V alone in sieve-sieve by leading games publisher [...]
Samsung Indonesia introduced the world’s first audio dock that combines digital and analog technology, and made specifically for the Samsung Galaxy.
South Korean manufacturer combines the sharpness and clarity of the sound of the Digital [...]
Linux developers, Canonical, claims a new version of Ubuntu 13.04 or so-called Raring Ringtail more efficient.
According to the Canonical claim, Raring Ringtail has improved performance. Among other uses fewer resources, faster boot times, lower [...]
To promote Windows Phone 8, Microsoft took the actress Jessica Alba and singer Gwen Stefani as their commercials. The two celebrities have been selected for the top stars, their status was also a homemaker.
Ads featuring Windows Phone 8 is a busy celebrity [...]
The issue of global warming causing many manufacturers to make devices that are environmentally friendly. Including one replacement power source for electricity with renewable sources or unlimited.
This one device seems to be an environmentally friendly [...]
Google has finally released Google Now app for Apple devices, the iPhone and iPad.
Quoted from Techradar, Tuesday (30/4), as a whole, Google Now in the both iOS device that is very similar, and no different with the launch for Android.
For those who [...]
PHENOMENON of Storms Sandy that hit the United States and around to make many people cringe and increasingly wary of the increasingly erratic weather. Natural conditions also makes a number of flooded social networking posts related to storm sandy.
Samsung finally sealed on March 14, 2013 as the beginning of the emergence of new smartphone, Galaxy S4.
Excerpted from The Verge, Monday (2/25), is the boss of Samsung, JK Shin, which ensures that date when he was commenting on the 2013 MWC Barcelona.
Human skull intentionally shaped like alien heads were found in a 1000 year-old tomb in Mexico, according to the researchers reported as quoted by LiveScience.
Practice changing the shape of the skull has become common practice in Central America. But [...]
Promoting tourism and economic development to the outside world with more easily.
Google began to introduce the features of Google Street View in Indonesia after Friday afternoon (11/23) symbolically release two special cars that will record the roads [...]
It has been rumored for a long time by a number of observers.
Smartpone manufacturer from South Korea, starting today officially launched the Galaxy Note II version dual Sim Card.
In the official website of Samsung’s China, some observers expressed [...]


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New Delhi: On an upward trajectory since July 5, petrol prices in the financial capital of the country crossed the Rs 84 per litre mark on Friday and was sold at Rs 84.14 a litre.
The cost of the fuel in Mumbai rose 17 paise from Rs 83.97 on Thursday, according to data from the Indian Oil Corp.
In the other major cities of Delhi, Kolkata and Chennai, petrol was sold at Rs 76.76, Rs 79.42 and Rs 79.67 per litre, up from Rs 76.59, Rs 79.26 and Rs 79.49 respectively on Thursday.
In Mumbai, along with the other metros prices rose to unprecedented levels in May, with the all time high being Rs 86.24, recorded on May 29. It had first touched the Rs 84 a litre level on May 20.
After a hiatus of around 36 days fuel prices started to rise on July 5. However, on July 10 and 11 prices were steady.
In tandem with petrol, the price of diesel also went up across the four metros. It was sold at Rs 68.43, Rs 70.98, Rs 72.61 and Rs 72.24 per litre in Delhi, Kolkata, Mumbai and Chennai respectively, up from the previous levels of Rs 68.30, Rs 70.85, Rs 72.47 and Rs 72.10 per litre.
The high prices of diesel gain significance as it is used in the transportation of agriculture and food products, which in turn impacts the country's inflation rate.
The retail inflation in June, as released on Thursday, touched the 5 per cent mark, compared to 4.87 per cent in May, one of the reasons being the high fuel prices.
|State Capitals (Applicable from 6:00 a.m. on 13-07-2018)||Petrol Current Price(Per Lt)||Petrol Previous Price(Per Lt)||Change(Rs)|
|Petrol price in New Delhi||Rs.76.59||Rs.76.53||0.06|
|Petrol price in Kolkata||Rs.79.26||Rs.79.20||0.06|
|Petrol price in Mumbai||Rs.83.97||Rs.83.91||0.06|
|Petrol price in Chennai||Rs.79.49||Rs.79.43||0.06|
|Petrol price in Faridabad||Rs.77.33||Rs.77.35||-0.02|
|Petrol price in Gurgaon||Rs.76.84||Rs.77.06||-0.22|
|Petrol price in Noida||Rs.77.50||Rs.77.36||0.14|
|Petrol price in Ghaziabad||Rs.77.31||Rs.77.26||0.05|
|Petrol price in Agartala||Rs.72.44||Rs.72.38||0.06|
|Petrol price in Aizawl||Rs.72.80||Rs.72.55||0.25|
|Petrol price in Ambala||Rs.76.76||Rs.76.74||0.02|
|Petrol price in Bangalore||Rs.77.76||Rs.77.77||-0.01|
|Petrol price in Bhopal||Rs.82.13||Rs.82.05||0.08|
|Petrol price in Bhubaneswar||Rs.75.41||Rs.75.24||0.17|
|Petrol price in Chandigarh||Rs.73.66||Rs.73.60||0.06|
|Petrol price in Dehradun||Rs.77.80||Rs.77.84||-0.04|
|Petrol price in Gandhinagar||Rs.76.03||Rs.75.82||0.21|
|Petrol price in Gangtok||Rs.79.70||Rs.79.65||0.05|
|Petrol price in Guwahati||Rs.78.83||Rs.78.68||0.15|
|Petrol price in Hyderabad||Rs.81.13||Rs.81.07||0.06|
|Petrol price in Imphal||Rs.74.64||Rs.74.58||0.06|
|Petrol price in Itanagar||Rs.72.19||Rs.72.14||0.05|
|Petrol price in Jaipur||Rs.79.53||Rs.79.87||-0.34|
|Petrol price in Jammu||Rs.78.35||Rs.78.32||0.03|
|Petrol price in Jalandhar||Rs.81.90||Rs.81.74||0.16|
|Petrol price in Kohima||Rs.74.52||Rs.75.03||-0.51|
|Petrol price in Lucknow||Rs.77.39||Rs.77.42||-0.03|
|Petrol price in Panjim||Rs.70.59||Rs.70.58||0.01|
|Petrol price in Patna||Rs.82.29||Rs.82.01||0.28|
|Petrol price in Port Blair||Rs.66.02||Rs.65.97||0.05|
|Petrol price in Raipur||Rs.77.02||Rs.76.93||0.09|
|Petrol price in Ranchi||Rs.76.75||Rs.76.50||0.25|
|Petrol price in Shillong||Rs.76.03||Rs.75.74||0.29|
|Petrol price in Shimla||Rs.77.40||Rs.77.14||0.26|
|Petrol price in Srinagar||Rs.81.01||Rs.80.95||0.06|
|Petrol price in Trivandrum||Rs.79.54||Rs.79.48||0.06|
|Petrol price in Silvassa||Rs.74.37||Rs.74.32||0.05|
|Petrol price in Daman||Rs.74.39||Rs.74.33||0.06|
|Petrol price in Pondicherry||Rs.75.38||Rs.75.33||0.05|
Source for rates: Indian Oil Corporation


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LG Optimus 3D Max Hands On
It has been awhile since the smartphone market has been graced with a 3D-capable device but that will change when LG releases the upcoming LG Optimus 3D Max, its successor to the the Optimus 3D which launched last year.
We were able to go hands-on with the LG Optimus 3D Max at this year’s CTIA conference in New Orleans and while it’s definitely an improvement over its last 3D smartphone, it’s lacking a key component that will likely turn consumers away.
The LG Optimus 3D is more of a refresh than anything as most things are similar to the original Optimus 3D. LG has managed to slim down the design of the device. It has also made it lighter and that’s very evident when you pick it up. Its design checks in at 9.6mm and it weighs in at 148 grams. The design itself is a familiar rectangular shape and while it gets the job done, it’s not going to make your jaw drop.
LG’s Optimus 3D Max also features a 4.3-inch WVGA 3D IPS display which is decent enough but can’t hold its own against some of the more top of the line displays on the market. It has a 1.2GHz TI OMAP 4430 processor which seemed to handle Android 2.3 Gingerbread well. And, of course, it has dual 5MP rear cameras for use with its 3D capabilities. That’s the same as last year’s device so don’t expect any stark improvement.
Two key things are missing from the LG Optimus 3D Max though.
The first, 4G LTE data connectivity. It would have been nice to have seen LG pair 3D with 4G LTE but it looks like we’re going to have to wait for that. Instead, the device will run on HSPA+ networks which means that T-Mobile here in the U.S. has a pretty clear shot at getting this device.
In addition, the phone doesn’t have Android 4.0 Ice Cream Sandwich and while LG has said that it will get the update, it’ll still be a tough sell. That’s because most new smartphones are launching with Android 4.0 out of the box.
We’ve also seen how long updates can take.
All in all, the device is solid and will appeal to those that really want 3D capabilities but it will likely be hard to recommend over some of the other Android smartphones that are currently on the market or are in the pipeline for later this year.


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The retail industry is hoping that a later Easter this year will translate into increased business.
A survey conducted by BIG-research for the National Retail Federation estimates total Easter spending will top 12-and-a-half (b) billion dollars this year after totaling less than ten (b) billion last year. The survey also says the average shopper expects to spend nearly 122 dollars on Easter purchases, compared with 96 dollars and 50 cents a year ago.
Easter falls on April 16th. Last year it was March 27th, the earliest Easter in 16 years. As a result, analysts look for consumer spending, particularly on clothing, to be way up.
Other spending will go for such things as food, candy, flowers, decorations and greeting cards.


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British wholesale distributor Entertainment U.K. (EUK), part of the troubled Woolworths Group, has insisted it can operate as normal in the run-up to Christmas.
There have been concerns in the biz about EUK’s position during the crucial fourth quarter. Since September, some suppliers of video games and music have been demanding upfront payments as credit insurers tighten their conditions as a result of the credit crisis.
The Financial Times reports on its front page today (Nov. 13) that EUK is also insisting some of its customers also pay cash in advance of supplies.
EUK is the main wholesale distributor in the U.K. of music product and other entertainment formats, with retail customers including Zavvi, Asda, Sainsbury’s and the 815-store Woolworths chain.
EUK told Billboard.biz that it renegotiated terms with both suppliers and customers six to eight weeks ago and supply would not be affected.
“In the wake of the general tightening in the credit insurance market two months ago we had to change trading terms with a number of our suppliers and therefore come to new agreements through negotiation with some customers,” said a Woolworths Group statement. “These cover a range of different situations, have been in place for some time and are working well.”
The retail giant Woolworths Group had a loss of £99.7 million ($147.9 million) for the six months up to Aug. 2, although EUK has performed better than the retail division. The group losses widened from £63.8 million ($94.6 million) in the first half of 2007.


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Now, 20 years after it first stuck its toe into the world market, SAB has been tucked into that catch-all category used by multinationals for territories they haven't yet quite made up their minds about: Europe, the Middle East and Africa. At least SAB had the benefit of ABInBev's $104bn payout to shareholders last year - cash that does compensate for lots of ignominy.
For SA shareholders who agreed last year to swap their shareholding in SABMiller for those in AB InBev, last week's results for the three months to June (its second quarter) were the first ray of sunlight to emerge since the takeover.
Since AB InBev listed on the JSE in October at R1,845/share, the stock has tumbled 13.3%. But with last week's results - earnings up 12% to $5.35bn as it took a hatchet to $335m in costs - the share price soared 6.8% on the JSE. Sentiment, it seems, has shifted.
This is why a number of analysts, including Standard Bank Securities, Societe Generale and HSBC, raised their target share price for the company. It says much that of the 36 analysts who cover AB InBev, 24 rate it a buy, 11 a hold and just one a sell.
For those worried that SA might become a distinctly forgettable second fiddle in the wider AB InBev, the good news is that the country did make it to the top of the highlights list in the results. This is because the SA business reported stellar 10.8% volume growth - the strongest growth on record at SAB, as far as anyone at AB InBev can tell.
"It is the highest beer volume growth by some measure in SA for a decade and more," says Marcel Regis, business unit president: SA.
What is intriguing is that this has happened now that the former SABMiller has been placed under the control of the notoriously tight-fisted Brazilian team that controls AB InBev.
Other factors are involved, of course: the timing of Easter helped, as did unseasonally warm weather and the introduction of powerful AB InBev brands in local markets, such as Stella Artois and Corona.
But the boost from AB InBev brands seemed to be a pattern across much of the old SABMiller territory. CEO Carlos Brito told analysts that the introduction of AB InBev's global brands had done very well in every SAB market into which they were introduced.
As it stands, AB InBev now owns seven of the top 10 global beer brands, including Budweiser, which is the most valuable beer brand in the world, worth $24.6bn, according to Forbes.
In SA, where the group recently announced a R2.8bn expansion, there was also a concerted effort to push near-beer products such as Flying Fish and Brutal Fruit. And, reversing seven years of double-digit declines, the cider product Redd's achieved remarkable 20% growth.
But the analysts who spoke to Brito in a teleconference seemed uninterested in the outstanding SA performance, asking just one SA beer question, which was about the prospects of relaunched Lion Lager cannibalising Castle and Hansa.
Brito was adamant that the relaunch, which was targeting cheap liquor options in the market, was being done in a controlled fashion, "There is no rush; we are very careful," he said.
Bernstein's lead analyst Trevor Stirling wasn't overly impressed with the SA volume growth. "It strikes us as unsustainable," he wrote in a report after the results.
Only it wasn't just an SA feature; elsewhere in Africa growth was also impressive. Beer volumes grew by over 20%, fuelled by strong growth in Nigeria, Tanzania and Uganda. "We also saw high single-digit beer volume growth in Zambia and marginal growth in Mozambique, with share gains in both markets," says Regis.
Overall, AB InBev did better than expected globally, with strong sales in Mexico, Argentina and China. (Volumes fell in the US, Brazil and Colombia, however.)
JPMorgan describes it as "better than expected", saying it has "confidence in AB InBev's ability to generate superior growth through best-inclass management ability".
But it was the rapid cost-cutting - at this stage $100m more than it flagged - that raised eyebrows.
It shouldn't have been that much of a surprise: AB InBev is renowned for being ruthless with costs (down to having to justify requests for new stationery). But it does indicate that the company is moving faster than expected in its bid to make $2.8bn in savings over the next few years, while shedding 5,500 jobs.
On this point, brokerage Vestact says: "There is only so much you can do about your customers consuming more beer; there is a lot you can do about costs."
Brito says the better-than-expected cost savings are not uncommon. "We see it as a learning process; synergies tend to accelerate in the first quarters . it reflects the good planning our teams did," he says.
Shareholders will be relieved to hear that Brito is happy with the SABMiller integration process. "Our new colleagues have really embraced our culture, they are now part of our 'one company, one culture, one dream', so we're very happy," he says.
However, while the ink isn't even dry on the SABMiller deal, speculation is already mounting about yet another megamerger - a sign that Brito's dynamic Brazilian management team behind AB InBev's dominance of the global beer market has regained its form.
Right now that would be a bridge too far: much as there was a lot to be happy about, there are still some big holes in AB InBev that need fixing.
Central to this are sluggish sales in ABInBev's two most important markets - the US and Brazil.
In America, where Budweiser and Bud Light are household names, AB InBev's market share is down 85 basis points. So while global revenue rose 4.4% in the six months to June, sales in the US fell 1.3% over that time. (Though this was mitigated by stricter cost cuts, which pushed earnings up 3.9%.)
It'll be especially disappointing for Brito, given that the company bought 10 domestic craft breweries over the past six years. It's due entirely to the waning performance on home turf of Budweiser and Bud Light, however.
Brazil was equally depressing, even though the political upheaval would have given people a reason to drink. But volumes were down 3.8% and margins were 334 basis points lower in the second quarter.
Bernstein's Stirling says there are concerns about currency risks surrounding Brazil's real as well as uncertainty about economic growth.
But some analysts, such as Eamonn Ferry from Exane BNP Paribas, believe the "worst is over. AB InBev is back in business".
More cautious investors will want to see whether the trend can be repeated next quarter. But either way, the results were a welcome respite for AB InBev after a tough year.
If the volume growth in places such as SA and Mexico doesn't become a sustained characteristic of the new era, AB InBev may need to produce more tricks to breathe life back into the share price. Like another megamerger.
Source: Financial Mail
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Former basketball star Michael Jordan, along with four NBA partners, is launching an ultra-premium Tequila brand.
Called Cincoro, there are four expressions of Tequila in the range, each of which comes with a hefty price tag. The bottles start at US$70 for Blanco (unaged), $90 for Reposado (aged 8 to 10 months), $130 Añejo (aged 24 to 28 months) and $1,600 for Extra Añejo (aged 40 to 44 months).
The spirit has been made with 100% Weber Blue agave from private farms in both the highland and lowland regions of Jalisco, Mexico, according to a statement from Cincoro.
The Reposado, Añejo and Extra Añejo expressions are barrel-aged in an underground cellar.
Jordan met with Jeanie Buss of the Los Angeles Lakers, Wes Edens of the Milwaukee Bucks, and Emilia Fazzalari and Wyc Grousbeck of the Boston Celtics for dinner in 2016, and after “sharing stories and discovering a mutual love of tequila,” the group decided to go into business to develop the new brand.
The group commissioned Mark Smith, vice president of innovation special projects at Nike, to develop the bottle’s design and labelling, which bears a symbol inspired by the agave plant.
“We set out to create a sipping tequila that is ultra-smooth, naturally rich, complex and delicious; a tequila with exceptional taste,” said Emilia Fazzalari, chief executive officer and founding partner of Cinco Spirits, which produces the Cincoro brand.
“Through hard work, determination and collaboration with our amazing group of founders and extended team, we have brought to life Cincoro Tequila. We believe each of our four Cincoro expressions provides a unique tequila experience that can transcend the category.”
Jordan is the latest celebrity to join the Tequila bandwagon, after singer-songwriter Nick Jonas launched his own label last month.


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By Aimee Chanthadavong
As donut chain Krispy Kreme Australia undergoes a company restructure after it entered voluntary administration, Dreamy Donuts has announced it will be accepting Krispy Kreme vouchers until the end of November.
The franchise brand owned and operated by the Foodco Group, which also owns Muffin Break and Jamaica Blue Brands, has 20 Dreamy Donuts stores in Australia and New Zealand.
It announced it will be accept Krispy Kreme vouchers in return for its Dreamy Donuts and Arabica bean coffee.
“In light of the recent closing of Krispy Kreme stores, Dreamy Donuts wants the public to know that Dreamy Donuts stores are a 100 per cent Australian concept and here to stay,” Natalie Brennan, Dreamy Donuts brand manager and national services and support manager for the Foodco Group, told Retailbiz.
The donut brand is celebrating its fifth birthday this month. It was acquired by Foodco Group’s subsidiary, Cookhouse Australia, in 2008.


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In addition to a win at the Supreme Court on TCPA that should ease worries for the more telephone-hesitant insights pros, the Insights Association was tied up this month in state battles over comprehensive privacy legislation, defending marketing research access to DMV records in Texas, promoting legal defenses against data breaches in Connecticut, deterring push polls in Massachusetts, continued advocacy on California A.B. 2257, and helping to win new COVID-19-exposure liability limitations for businesses in Florida.
The insights industry scored important legislative victories in the last month for pharmaceutical MR in Pennsylvania, data security in Utah, and more COVID-19 small business loans and grants at the federal level and in California. At the same time, we’re staring down lots of problematic legislation, including a new comprehensive data privacy law in Virginia and a complex excise tax on data collection in New York. Meanwhile, advocacy continues on issues like: California A.B. 2257; worrisome legislation in Congress that would allow for the unionization of research subjects; limitations on coronavirus-related exposure liability; the census; and restrictions on exit polling.
February may have the fewest days, but this month certainly is not short on legislative activity pertinent to the insights community, including comprehensive privacy bills, data security legislation, new taxes on the industry, liability limitation for COVID-19-related exposure, new leadership to oversee the census, and new rules for determining independent contractor status. Changes are also in the works for California A.B. 2257.
The Insights Association and ten other data-focused trade associations have come out in opposition to California Proposition 24, calling it "a premature and ill-timed overhaul of California’s privacy law."
August is normally quiet in Washington, DC, but in keeping with the theme of 2020, this month has been more frenetic. While we beat back new taxes on the insights industry, the Insights Association has had to tangle with the demise of the U.S.-EU Privacy Shield for data transfer, further pandemic relief, some new threats to pharma MR, the finalization of CCPA, and an attempt to rush the 2020 Census that threatens the statistical viability of most marketing research and data analytics in the U.S.
The past month has seen significant developments on CCPA, COVID-19, data taxes, small business-crippling legislation in California, immigration work visas, and TCPA. The Insights Association is grateful for your membership and support in combatting these tough issues. Check out what we’re up to!
Insights Association Issues Final Plea to California Attorney General for CCPA Clarifications and Delayed Enforcement
As the beginning of enforcement of the California Consumer Privacy Act (CCPA) gets closer, the leading nonprofit trade association representing the insights industry pleaded for greater clarity fro
With the coronavirus response causing havoc across the business community, the Insights Association joined 65 other industry groups to implore California Attorney General Xavier Becerra to "forebear from enforcing the CCPA until January 2, 2021 so businesses are able to build processes that are in line with the final regulations before they may be subject to enforcement actions for allegedly violating the law’s terms."
CCPA Regulations Need Further Clarification: Insights Association Comments to AG on 2nd Draft Implementing California Privacy Law
In support of "consumer privacy in California and streamlining CCPA compliance for both businesses and consumers," the Insights Association urged further changes to the second draft of regulations


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According to official data, China’s GDP saw a growth of 4.9% between July and September, bringing its economy closer to how it was before the pandemic completely altered its direction. Although this development is slower than expected, it signifies China’s swift economic recovery back to its old trajectory.
China, the world’s second-biggest economy, was forced to follow aggressive measures following the outbreak of the virus, painting a dire picture that bode badly for its economy. In the initial quarter of this year, China’s economy dwindled to 6.8% when it saw nationwide shutdowns of factories and manufacturing plants.
Currently, however, its recovery has so far put it on track to be the only major economy expanding this year, according to International Monetary Fund forecasts, while nations around the world continue to struggle with lockdowns and new waves of infections.
According to key economic growth figures released on Monday, the pace of China’s revival is quickening.
The quarterly figures are compared to the same quarter of 2019.
“I don’t think the headline number is bad,” said Iris Pang, chief China economist for ING in Hong Kong. “Job creation in China is quite stable which creates more consumption.
Furthermore, China’s trade figures for September also illustrated a powerful recovery, with exports growing by 9.9% and imports growing by 13.2% compared to September last year.
While the world grapples with another wave of the virus, China’s economy continues to grow at rates unimaginable in other Covid-hit countries.


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The U.K. cinema chain’s head Moshe “Mooky” Greidinger testified Wednesday at the Ontario Superior Court of Justice that his company was planning to find buyers for the businesses.
Greidinger was planning for the sale as he worked to close a $2.8-billion deal Cineworld signed in December 2019 to acquire Cineplex.
He said he wanted to rid Cineplex of the businesses because Cineworld’s focus was primarily on theatres and it didn’t have the expertise to keep other ventures open.
Greidinger and Cineworld worked to sell the businesses before June 2020, when they backed out of the takeover deal and blamed Cineplex for breaching its terms.
Cineplex has focused on its The Rec Room arcade and dining venues, as well as a digital sign business to offset swings in the box office and increased streaming options.


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Centralia Pa. then ... and now
Computer security firm McAfee says online attacks are on the rise, especially for mobile devices. This slideshow runs down some tips you can follow to make sure your computer and phone remain secure.
When a ship comes into sight, they come -- seemingly out of nowhere, inching closer to the dock. Bleary-eyed, the faces of the families of the missing have become swollen from crying.


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Muli-award-winning actor, playwright and composer Lin-Manuel Miranda is taking the trip of a lifetime down to Duckburg to make his DuckTales debut as the voice of Gizmoduck — a.k.a. Fenton Crackshell-Cabrera. The big event is slated for Friday, May 11 at 8 p.m. ET/PT on Disney Channel and DisneyNOW, as part of the first-ever “Duck Week.”
“I’m really excited that a new generation of kids will be growing up with DuckTales. As a huge fan of the original series, I love that I can share this new version with my sons,” said Miranda.
The character Gizmoduck, Duckburg’s preeminent hero who shares a Latin heritage with Miranda, has been reimagined by exec producer Matt Youngberg and co-producer/story editor Francisco Angones. In the debut episode “Beware the B.U.D.D.Y. System!,” the brilliant young scientist Fenton is recruited by Launchpad , who is feeling menaced by tech genius Mark Beaks’ newest invention.
Starting Tuesday, May 1, the Emmy-nominated series will air daily on Disney Channel, with premieres every Friday in May and new episodes and shorts debuting throughout the summer across Disney Channel, DisneyNOW and Disney Channel YouTube.
The same day, DisneyNOW will launch the DuckTales Treasure Hunt LIVE! interactive experience on-air and in the app. Players join up with Team Huey, led by Isaak Presley (Stuck in the Middle); Team Dewey, led by Sofia Wylie (Andi Mack); Team Louie, led by Issac Ryan Brown (Raven’s Home); or Team Webby, led by Ariana Greenblatt (Stuck in the Middle). “Treasures” will be revealed in daily episodes of DuckTales (8 p.m.) which can then be found in DisneyNOW to earn points for the team. Every Friday in May, Disney Channel will highlight the leading team. On May 25, the winning team will be announced with an on-air shout out by their Team Captain and receive an exclusive in-app surprise.
Disney’s Animal Kingdom will continue the storytelling by inviting families to search for some of the same treasures at “Donald’s Dino-Bash!” at DinoLand U.S.A., beginning May 25. Guests will also have the opportunity to meet Launchpad McQuack and Scrooge McDuck at “Donald’s Dino-Bash!” at DinoLand U.S.A.
The inaugural “Duck Week” takes flight on Sunday, May 6 with a duck-blur of activities throughout the week, including partnerships with ESPN, Disney Studios, Disney Parks and Resorts, and Disney|ABC Television; a DuckTales product line at Disney store and shopDisney.com; branded AR experience for kids and a Snapchat lens allowing fans to jump into a virtual Money Bin with DuckTales characters, all in collaboration with Unity Technologies; a PSA celebrating diverse families as part of Disney|ABC Television’s annual Foster Care Awareness campaign with FosterMore; new shorts featuring Webby and interstitials casting baby ducks in reimagined scenes from Disney Channel shows including “Andi Quack,” “Raven’s Pond” and “Duck in the Middle.”
Other extensions of the series set to begin this summer include: an array of book titles from Disney Press including DuckTales: Solving Mysteries and Rewriting History!; comic books and graphic novels from IDW Publishing; and a brand new toy line from PhatMojo including action figures, plush and collectibles exclusively at Target. On June 5, Disney Studios will release DuckTales: Destination Adventure!, an episode compilation DVD with two bonus classic series episodes released for the first time ever on DVD.


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When Ferrari announced the 812 Superfast in February, I wondered if it might be the last-ever naturally aspirated Ferrari road car. The auto industry is in the midst of a full-blown turbocharger addiction—even in Maranello, where forced-induction V8s now power the California T, 488, and GTC4 Lusso T. But there will always be a place for a naturally aspirated V12 at Ferrari, according to CEO Sergio Marchionne; it's just that they'll come with some batteries included.
Emissions standards might be getting tougher, but Autocar reveals that Ferrari has no plans to ditch the V12 or turbocharge it:
Our head of engine programs told me it would be absolutely nuts to [put a] turbocharger on the V12, so the answer is no. It [will be] naturally aspirated, with a hybrid [system].
Ferrari's technical head, Michael Leiters, told Autocar that the 812 Superfast comfortably meets the current EU6B emissions rules and that from 2021—when the EU implements regulations requiring fewer than 95g/km CO2—hybridization will provide the solution. It's already known that Ferrari is working on a hybrid architecture, due in 2020, and the company has quite a few patents related to hybrid powertrains in road cars.
Ferrari first floated the idea of a V12 hybrid road car back in 2010, with the HY-KERS prototype. This was a 599 GTB Fiorano fitted with a 100hp (74kW) electric motor and a 3kWh lithium-ion battery pack that proved the concept that went into production in the LaFerrari hypercar. Unlike those cars, the forthcoming hybrid architecture will feature much larger battery packs and should include plug-in hybridization.
But the goal, according to Marchionne, will be to supplement performance. As a small manufacturer—Ferrari is no longer part of the large Fiat Chrysler Automobiles empire—it gets to play by slightly more permissive rules than OEMs that churn out hundreds of thousands of vehicles a year.
Listing image by Ferrari


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The headquarters of Research in Motion, makers of the BlackBerry smartphone. (Mike Cassese/Reuters)
Shares of Research in Motion rose more than 5 percent Wednesday after an influential analyst said the embattled BlackBerry maker may look to license its new operating system to Samsung Electronics Co.
Jefferies & Co. analyst Peter Misek said RIM's strategic review process, begun this year, will likely result in the Canadian company concluding that it needs to license its BlackBerry 10, or BB10, operating system, now under development.
"Given recent management comments in the press, it now appears that RIM is realizing what Wall Street has been saying for some time: they are a subscale manufacturer and desperately need a partner," Misek wrote in a research note on Tuesday.
"We believe RIM is attempting to revive discussions with Samsung regarding a BB10 licensing deal."
The South Korean smartphone maker is the world's largest smartphone maker and one of the largest sellers of phones that run on Go ogle Inc's Android o perating system.
Shares of RIM, which has steadily been losing ground to Apple Inc.'s iPhone and a number of devices running on Android, rose 5.2 percent to $7.69 in early trading on the Nasdaq.
RIM's Toronto-listed shares were up 5.3 percent, to C$7.71.
The stock has tumbled more than 80 percent since the beginning of 2011, when Apple and other smartphone makers started to widen their lead over the once-dominant RIM.


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Internet advertising revenues reached an all-time high in 2007, totaling $21.7 billion, which is 26% higher than 2006. The data comes from internet Advertising Bureau (IAB) and PricewaterhouseCoopers 2007 Internet Advertising Revenue Report. Keyword search leads the field when it comes to types of internet advertising. Here's the breakdown of ad types:
David Silverman, partner, Assurance, PricewaterhouseCoopers pointed out that the data defied economic woes: "Despite the current state of economic uncertainty, 2007 was another record year and the 13th consecutive record quarter. Interactive advertising is not just the future, it is the here and now, as it represents a meaningful and growing component of U.S. advertising and marketing spend."
What are your thoughts on 2007 internet ad revenues? Leave us a comment and let us know!
IAB/PwC Reports New Heights, Slower Growth in Online Ad Revenues
Meet Your Favorite Search Engine Watch Contributors
Many of SEW's leading expert contributors will be at ClickZ Live, the new online and digital marketing event kicking off in New York (March 31-April 3). Hear from the likes of: Thom Craver, Josh Braaten, Lisa Barone, Simon Heseltine, Josh McCoy, Lisa Raehsler, Greg Jarboe, Dan Cristo, Joseph Kerschbaum, John Gagnon, Eric Enge and more!


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Finally, The Black Scourge Of Four Loko Is Off The Nation’s Store Shelves
Our long national nightmare is over.
An alcopop that’s built up a cult following is being removed from US stores in its current form today on the orders of the Food and Drug Administration.
The passing of the popular drink has been mourned with almost religious fervour by its fans. But it will now disappear in its current formulation
Four Loko has as much caffeine as a large coffee and is about three times as alcoholic – at 12% – as average-strength beer.
There were reports that students were becoming dangerously drunk on the product. The alcohol–caffeine mix is, says the BBC, “a combination those who drink it say tastes great and makes you feel good. But others describe it as a ‘blackout in a can’, and blame it for landing a number of students in hospital.”
If you’ve not heard of Four Loko don’t be worried. The drink was little more than a campus novelty before the federal government, citing a few anecdotal instances where college students drank it to excess, decided to institute an arbitrary ban on the drink as it is currently formulated (apparently a formulation without caffeine will still be available after today).
And when I say arbitrary, I mean arbitrary. There were no studies done. There was little effort to include the public process. The FDA just up and banned the drink for our own good. Because as the Obama administration has argued in court, Americans “do not have a fundamental right to obtain any food they wish.”
What’s funny is that college students are actually holding vigils to say goodbye to Four Loko, proving once again that the surest way to make something popular with America’s youth is to have the government institute a ban on it.


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Whiskey is no longer considered a masculine drink. With the increased spending power women enjoy these days, comes an appetite for the finer things in life like Whiskey. Emily Stockden from the FNB Whisky Live Festival talks about a few tips on how to get started with whiskey.
Visit any large shopping centre anywhere in the country and you’re bound to see a Sorbet beauty salon – without a doubt, this local chain is a massive entrepreneurial success. This week, we’re giving away one copy of Sorbet founder Ian Fuhr’s autobiography, ‘Get that feeling – the story of a serial entrepreneur’. Test your knowledge for a chance to win!


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NEW YORK (MarketWatch) - Matria Healthcare Inc. matr on Monday forecast a 44% increase in 2007 profit, excluding items, the company's first forecast as it works to emerge as a wellness and disease management company after divesting non-core assets last year. The Marietta, Ga.-based company said it expected to earn $1.67 to $1.74 a share for 2007, after the impacts of deferred revenue, generic drug revenue and share-based compensation. Revenue, after the impact of deferred revenue and generic drugs, is expected to be $385 million to $3.95 million. Analysts, on average, expect it to earn $1.36 a share on revenue of $386 million, according to Thomson First Call.
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In order not to unintentionally bury the lead here, let’s place this startling new information right up front: Some individuals are watching Netflix while taking dumps in public restrooms. Netflix and Poop is the new movement.
While you may consider this honest statement bordering something crass, you should first know that this is something Netflix is kind of bragging about it. Generally the media company is notoriously guarded about releasing any facts or data regarding streaming date. No one knows how many people actually watched Stranger Things or just what demographic of people viewed Dave Chappelle’s latest standup comedy specials.
Netflix gets away with this because its shows obviously aren’t accompanied by advertisements. While competitors and adjacent media companies might want to know these numbers, Netflix doesn’t technically need to sell anyone that audiences are watching because the audience pays them directly—and/or uses an acquaintance’s parent’s account to watch.
But what we’re discussing here isn’t number-crunching; it’s more like toilet paper-smearing. Netflix itself commissioned a survey by the data company Survey Monkey, in which they solicited responses from tens of thousands of people across the globe, including 1,600 Americans. Thanks to the rise of smartphone and tablet culture, the survey found that two-thirds of Americans stream movies and TV in public.
Now, those Americans watch in expected scenarios like on airplanes (44 percent) or trains (31 percent) or automobiles (34 percent). And apparently 12 percent of Americans were so consumed by their content that they missed their next stop on the train or bus.
However, most startling remains those who choose to watch in public bathrooms. That figure is an astounding 12 percent. And you might question my usage of astounding as an adjective there, but I don’t think we’re properly recognizing that no one should carry their tablet or smartphone into a nasty, grimy, very-much-public bathroom to knock out a few episodes of Mindhunter.
Entirely unsurprising though is the number of Americans who admitted to watching Netflix while at work. That figure? 37 percent. I’m kind of surprised it isn’t higher. I expected 100 percent of people to always be watching some mindless bingefest while plugging away at climbing the corporate ladder.
Anyways, the lesson here is simple: Stop Netflix and Pooping in public bathrooms. At least have the decency to do that shit in your own home.


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- Airtel’s 500 percent airtime bonus receives lukewarm reception ~ English, featured, News 27 Jun, at 15 : 26 PM
- MTN appoints Shuter as new president and CEO ~ English, featured, News 20 Jun, at 14 : 35 PM
- Motorola Could Intervene in Rwanda’s Smart Cities Project ~ English, featured 8 Jun, at 14 : 43 PM
- Airtel wins global telecommunication business award ~ English, featured, News 1 Jun, at 14 : 41 PM
- Germans Close Business in Rwanda After Half Century Lease Expires ~ English, featured 31 May, at 13 : 37 PM
30 March, at 04 : 12 AM Print
Apart from the two competing telecommunication companies in Rwanda, TIGO and MTN another giant Indian telecommunication AIRTEL will soon launch its services to the citizens of Rwanda.
Mid March the new telecom company begun supplying and distributing its logos, fliers, and t-shirts to their clients. AIRTEL also painted several commercial houses in Remera with the company colours.
The company also started selling out their services with several shop dealers.
Many people in Kigali have welcomed the new telecom company, saying it will resolve their lingering communication problems like hiked call prices at times.
AIRTEL’s venture in to Rwanda’s telecommunication market is expected to lower tariffs and increase efficient communication. AIRTEL operates in 17 countries, including neighbouring Uganda and the DRC.


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Wunderman Thompson South Asia
Wed, 09 Dec 2020 16:17:15 GMT
What is the simplest thing anyone can do to protect themselves and their loved ones from the pandemic that is raging across the country and the world? The answer lies in remembering to wear a mask every time we step out. Yet, this simple message has either not reached everybody or is simply being ignored or forgotten.
Ghadi, as India’s no. 1 detergent powder, decided not just to reach out and remind millions but walk the talk themselves.
In an initiative conceptualised and executed by ADK Fortune Communications Pvt. Ltd., Gurgaon, a WPP company and part of Wunderman Thompson South Asia Group, the most powerful and effective medium was used – the Ghadi detergent pack. The pack reaches millions of Indian households, even in areas where the reach of TV and other mass medium is extremely limited. So, to spread awareness and reach the maximum number of households, Ghadi pack as a medium was used.
Ghadi covered its actual logo (the very face of the brand) across its entire range with a printed mask to remind and inspire people to wear a mask. And to further underline its importance, a message, ‘Bachaav Mein Hi Samajhdaari Hain’ (It makes sense to save yourself), is going on every pack.
Speaking about the initiative, Mr. Rahul Gyanchandani, joint managing director, RSPL said: “As a category leader, Ghadi has always believed in making a positive impact. In these troubled times, using our pack and then extending the campaign to other mediums seemed like the best way to bring about a change in behaviour and further build upon our connect with our massive consumer base.”
To further scale up this message, Ghadi supported this initiative with a digital film directed by Pradeep Sarkar. It clearly shows a young girl in a shop who makes her father realise that the best way to show you care is by wearing a mask – just like the pack itself.
Elaborating on how the campaign has fared, Nakul Sharma VP and ECD, ADK Fortune Communications, commented: “It started as a small idea; a unique way of connecting with the consumer. But with the client backing it fully, this initiative by Ghadi is now actually impacting people and their thinking. For Ghadi, this is just the beginning. We truly want our mask-wearing initiative to become the starting point of a mass movement.”
In the coming days, the plan is to distribute 10 lakh masks across India for free. And to further drive home this message, the film will be released across India in five regional languages with a full-blown PR and social media campaign.
Genres: Dialogue, Storytelling, People
Categories: Cleaning Products, HomeWunderman Thompson South Asia, Wed, 09 Dec 2020 16:17:15 GMT


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Itheum, a metaverse project based on the Elrond network, recently secured $1.5 million in funding from a single investor – Morningstar Ventures. This seed round would enable the project to pursue its roadmap.
According to a press release shared with CryptoPotato, the funding round is part of a $15 million initiative from Morningstar, which launched Itheum in October 2021. This would help the project to attract more developers to its ecosystem.
The Elrond-based project boasts of a state sharding protocol that facilitates high-speed transactions with room for complex products that are based on the blockchain.
Itheum seeks to take advantage of its strong links in the Middle East to build a data-centered multi-chain blockchain covering data brokerage, a data-backed personal identification system that serves the metaverse concept, and more.
According to Mark Paul, the founder, and CEO of Itheum:
“Itheum provides a suite of tools that enable high-value data to be bridged from web2 to Web3 and then be traded peer-to-peer with no centralized intermediaries. The use of blockchain technology ensures users can take ownership of their data and partake in the Web3 and Metaverse data economies.”
Speaking on the seed round, the CIO of Morningstar Ventures, Danilo, said that the company is excited to be a part of the Itheum vision after going through dozens of projects.
He stated that Morningstar is pleased to introduce Itheum to its community, adding that the project has made inroad into the complex space of NFT, gaming, metaverse domains, and consumer data products.
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Over the weekend, AT&T Inc. introduced what the company calls its “ best-ever” pricing plan for wireless customers. Today, the Dallas-based telecom giant introduced a similar deal for small businesses.
The offer will save businesses hundreds of dollars annually on their communications costs, Tom Hughes, vice president of small business product marketing, told me in an interview.
“This is a great plan for our customers,” Hughes said. “We’re going to combine our mobility plans with our broadband plans and bring it to the market in a unique value for our customers.”
When customers have mobile share plans of 10GB or higher and want to add a new broadband line, the broadband line will be free for a year, he said. It’s the first time an offer combining wire and wireless has been available, he said, calling it “a one-two punch.”
“The combined offer of wire line and wireless is something our customers have asked us for,” Hughes told me. “We know that’s of interest to them, and we’re responding in the marketplace.”
With the new plan, companies can save up to $420 over the next year.
The way it works is that AT&T is offering up to 12 months of free AT&T U-verse High Speed Internet – Business Edition to small businesses in Dallas that fall within the following categories:
- Are new AT&T wireless business customers adding Mobile Share Value 10GB or higher plans, or
- Are existing AT&T mobility business customers migrating to AT&T Mobile Share Value 10GB or higher plans, or
- Are existing business customers on Mobile Share Value 10GB or higher plans.
- The free AT&T U-verse High Speed Internet service includes download speeds of up to 6Mb per second. If small businesses choose AT&T U-verse download speeds faster than that, they will be provided a monthly credit of $35 for up to12 months or up to $420 per year.
Today’s announcement further extends the benefits of Mobile Share Value plans for small businesses, which already include unlimited talk and text in the United States for phones and unlimited international messaging — text, picture and video — from the U.S., and 50GB of free cloud storage from AT&T.
“We know that small businesses are beginning to mobilize their business, so from a traditional wireline perspective, we’re starting to integrate the mobility side of it,” Hughes said. “We know they’re looking to us to do that for them.”


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Last month, Palo Alto-based alkaline sports drink makers Phenoh 7.4 made their expansion into the East Coast market by way of a partnership with Natural Wayz Beverages. Now, the company will look to establish its presence in the Southwest United States, by securing shelf space in Central Market’s nine Texas locations.
GoodBelly now sports a tagline of “Drink daily for healthy digestion,” and features fruit images that are more reminiscent of those found on conventional multi-serve juice products.
A pair of discussions from BevNET Live's second day underscored that no matter how brilliant a product idea might be, it needs to provide the consumer with a strong experience that will draw them back.
“In earlier stage companies, there’s a lot of excitement around what we might be creating -- but you have to channel some of that into what the world’s ready for,” said Califia Farms CEO Greg Steltenpohl.
After two days of animated and inspirational presentations, Tio Gazpacho, an RTD version of the famous Spanish soup, took two titles: Audience Favorite & winner of New Beverage Showdown 8.
The question is whether brands should try to present themselves as an alternative category to the average Starbucks drink – which some describe as a dairy type of beverage – or as another part of the coffee mix.
Two common threads link this year’s best: One, brands have maintained a focus on health-driven trends, initiating timely innovation in both formulation and packaging. Two, companies have executed on multi-channel retail and distribution strategies at a time when mainstream consumers become increasingly aware and actively pursue beverages in natural-focused categories.
Coconut water companies are responding to a recent report that the category has gone flat. In short, they aren’t buying it.
Coke will look to take its advertising dollars elsewhere, as Idol’s ratings and, by extension, its ad revenue continue to be on the decline.
The position had been vacant since May, 2013, when John Cochran left the company to become CEO of Ole Smoky Tennessee Moonshine.
Beverage companies big and small have reached agreements to broaden their distribution across several channels, including grocery, convenience, club and online.
The Wall Street Journal recently reported on athletes incorporating soft drinks into their diets.
“These nutso ideas are what everybody’s looking for right now” Primozich said. “Weirdo ideas like putting soup in a bottle and throwing it in the beverage case.”
The round is the third in the past 18 months for the company, taking the total amount invested in the brand to $45 million.


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World food prices were largely stable in August from the month before, with a rise in wheat prices offset by declines in sugar, vegetable oils and dairy indices, the United Nations food agency said on Thursday.
The Food and Agriculture Organisation's (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 167.6 points last month, against a downwardly revised 167.2 in July.
The July figure was previously given as 168.8.
Drop In Wheat Production
FAO said global cereals output in 2018 was seen at 2.587 billion tonnes, down 64.5 million tonnes, or 2.4%, from 2017's record production level.
FAO's forecast for world wheat production in 2018 was cut by 1.9% since July and now stands at almost 722 million tonnes, the smallest since 2013.
The drop in wheat production, blamed largely on a heatwave in Europe, has pushed prices for this crop up some 8% month-on-month, the largest rise for any of the FAO indices.
By contrast FAO's sugar price index dropped 5.4% from July, the lowest level in a decade. The decline was largely due to the continued depreciation of the currencies of Brazil and India against the US dollar, FAO said.
News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.


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By BRENLEY LEWIS
Many students at BYU are catching the spirit of humanitarian aid relief efforts, but two BYU students have personally taken their desire to serve to a new level.
Lee Hamblin, a senior from Provo, majoring in business management and Joel Otterstrom, a junior from Spokane, Wash., majoring in computer science, have created a way to help the poverty-stricken people they met on their missions in Guatemala.
They are doing this through a Web site they created known as “mayashop.com.”
The primary objective of Mayashop, according to the Web site information page, is “to make the diverse arts and crafts of Central America available to the world via the Internet, while simultaneously improving the standard of living for the artists who create these products.”
Their idea of doing something to help started while they were on their missions. Otterstrom said the spark was ignited when he was in one area where everyone in the city made shoes.
“There was no one to buy the shoes. They didn’t have a market. Being in this area made me think, ‘What can I do?'”
In April, Otterstrom and Hamblin met with Luis Alvarez, founder of Enterprise Mentors of Central America, a non-profit agency that redistributes funds through micro-loans and trains aspiring entrepreneurs.
Hamblin said they talked to Alvarez about their idea to create a Web page where they could distribute Central American products worldwide and give all profits directly back to the people.
“Luiz was very excited about our idea,” Otterstrom said. “He taught us a lot and helped us get started.”
Otterstrom and Hamblin met Alvarez again in Guatemala in May when they went to find vendors whose goods they could distribute. To find their vendors, they received references from members they met on their missions, Hamblin said.
The Miza family is an LDS family Hamblin and Otterstrom met on their mission. They have two sons at BYU.
They became one of the first vendors to sign on with Mayashop. They were also connected with Enterprise Mentors at this time.
The Mizas make scripture cases, backpacks and other goods, which they provide for Mayashop. They are also a part of Enterprise Mentors, which teaches them how to run a business, Hamblin said.
Hamblin said Enterprise Mentors is very beneficial for those who take part in it. “They (the vendors) have a lot of talents, but without Enterprise Mentors, they don’t know how to run a business.”
Because of this beneficial relationship, Hamblin said Mayashop gives 10 percent of the profits to Enterprise Mentors.
Mayashop.com purchases its products directly from the producers to avoid intermediaries and to guarantee that the vendors receive a fair price for their products, Hamblin and Otterstrom said.
The Mayashop products are being sold in several stores in the Salt Lake and Provo areas. Several stores in Spokane have also shown interest in their idea and products, Otterstrom said.
“We’re doing really well in the stores. I was surprised how easily we got into the retail stores. Store managers have been really excited about what we’re doing. They like our idea, they want to help, and most importantly, they like the products,” Otterstrom said.
Hamblin said they are expanding in retail because Mayashop is not yet well known on the Internet.
“We’re trying to expand publicity of the Internet site by registering with search engines and putting the Web address on the tags of our products,” Hamblin said.
In addition to establishing the presence of the Web site, the goals of Otterstrom and Hamblin are to eventually cover all of Central America — to be able to sell products from all the Central American countries, Otterstrom said. As a long-term goal, they hope to start a factory which will provide decent wages to employ members of the church in making a variety of goods that can be sold in the U.S. and worldwide, Hamblin said.


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With pressures along the supply chain delaying the arrival of some fan-favorite products during the holiday season, consumers are getting a head start on their shopping, presenting a potential $1.7 billion boost to the grocery sector. IRI® recently released its latest insights on Thanksgiving-related grocery trends, reflecting on key shopping behaviors currently driving retail demand.
“More than ever before, consumers are planning ahead for Thanksgiving by shopping early for key items, driving a 4 percent sales lift of the entire edible category for the week ending October 31, 2021,” said Dr. Krishnakumar “KK” S. Davey, President of Client Engagement for IRI. “The latest data also shows that shopping habits vary widely among consumers of different demographics, primarily across age groups and household income levels. The distinct behavior patterns of each shopper demographic create important insights for manufacturers and retailers as they optimize their advertising and promotion strategies in the final weeks leading up to Thanksgiving.”
With the holiday season fast approaching, IRI is tracking a variety of holiday-related items to gauge their availability, demand, price, and promotions for Thanksgiving and Christmas, a press release explained. The tracked items include the top 25 Thanksgiving-related grocery categories, which make up 81 percent of the $2.2 billion uplift in grocery sales typically seen in the four weeks leading up to the holiday.
Some of the key findings based on data for the week ending Oct. 31, 2021, outlined in the report include:
Also noted in the report, 34 percent of consumers explained they are stocking up on certain items because they are concerned that the products might not be available the next time they shop following widespread media reporting on the ongoing supply chain challenges. By closely monitoring these uplifts, retailers can better meet the needs of consumers with the right products, prices, and promotions to drive growth and profitability throughout the holiday season.
The IRI CPG Supply Index™, Demand Index™, Inflation Tracker™, and Promotion Index™ are calculated from daily point-of-sale and e-commerce transaction data reported from major chains.
Deli Market News will keep a pulse on the newswire as we wait to see how the grocery sector is further affected by supply chain challenges and evolving consumer demands.


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Pivots are an important part of many a startup journey but their success often hinges on the support of investors
The luxury accommodation start-up also adds some key personnel to its senior management team as its total investment passes the $80m mark
Encouraging more women to get involved in investing is key if the UK is to really harness the potential of the ever-growing start-up community
Wahanda, the hair and beauty marketplace, will step up its European growth strategy after securing further investment from Recruit Holdings
The online florist whose flowers are fit for your letterbox has raised £2.5m in a Series A round led by MMC Ventures
Lost My Name, the London tech start-up that publishes personalised books for children, has its eyes set on global domination following latest funding round
A new joint initiative from the IoD and MMC Ventures is aiming break down the barriers to entry for budding businesspeople and incipient investors
Billion-dollar valuations of companies like Uber and Shazaam are fuelling fears of a tech bubble. But are comparisons with the dot-com crash justified?


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The attraction on Yas Island is now officially home to the world’s largest indoor skydiving wind tunnel and world’s tallest indoor climbing wall
Clymb Abu Dhabi, the new sports and leisure attraction on Yas Island, was recently awarded with two Guinness World Records titles – the world’s largest indoor skydiving wind tunnel at 10 meters wide and 54.6 metres high as well as the world’s tallest indoor artificial climbing wall reaching 42.16 metres.
The newest attraction on Abu Dhabi’s Yas Island, Clymb Abu Dhabi began welcoming guests in November last year, providing unique experiences that guaranteed to take every visitor to new heights.
Indoor skydiving chamber
The two attractions are suitable for visitors of all ages and skills, with highly trained instructors taking visitors through safety tips and techniques before introducing flying and climbing techniques. With five climbing walls of varying degrees of height and difficulty, Clymb Abu Dhabi is suitable for both beginners and experts alike.
The venue also houses two dining outlets, promising a fun day out for the whole family. Visitors are also able to watch others tackle the Summyt and watch others fly in the wind tunnel from the free viewing platforms. The two titles add Clymb Abu Dhabi to the list of record-breaking attractions on Yas Island.
Clymb Abu Dhabi has implemented safety measures throughout the facilities including mandatory online booking to ensure that the limited capacity of 30 percent is adhered to, thermal screening cameras, safe distance markers at all facilities and outlets, modified capacity in the facilities and modified dining and shopping experiences.
Guests are encouraged to play their part in these safety measures by wearing facemasks at all times, sanitising their hands regularly and choosing contactless payment at all outlets. Guest services attendants will be stationed throughout to assist guests and answer any questions.


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Dutch regulators are investigating complaints by developers that Apple promotes its own apps over others in the App Store.
News of the anti-trust probe comes on the heels of Spotify filing a formal antitrust complaint with the European Union.
The Netherlands’ Authority for Consumers & Markets will determine whether Apple exercises unfair practices with its own App Store, according to Bloomberg, which broke the story early today.
Apple makes the devices and controls the app ecosystem, which some developers complain gives the iPhone maker leverage with its own platforms, like Apple Music and Apple News.
Among the biggest complaints involves Apple taking 30 percent on sales of in-app purchases in the first year. App developers for Dutch news outlets say they struggle to get traction because of Apple News.
Apple could not be reached for comment for the Bloomberg story.
Charges of an App Store monopoly is nothing new for Apple. In addition to Spotify’s complaint in the EU, a similar antitrust lawsuit appears headed for the U.S. Supreme Court.
The Dutch probe will also include Google because of similar complaints developers have with Google’s Play Store, according to Bloombergreported
“App providers say they do not always have a fair chance against Apple’s own apps or against apps that Google has pre-installed on phones,” the ACM said in the Bloomberg report. “These problems, together with the indications submitted by app providers, are sufficient reason for ACM to launch an investigation into Apple’s behavior,”
The Dutch authority also asked developers to submit any complaints they may have with the Apple Store or Play Store.


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Jumeirah Group has appointed Niamh O’Connell as its first vice president of wellbeing, group and corporate. The move is part of the group’s renewed focus to elevate the wellness offering across its portfolio and craft distinctive experiences that meet the needs of discerning luxury travelers.
With nearly three decades of experience in luxury wellness and hospitality across Europe, the U.S. and Asia Pacific, O’Connell will work alongside Jumeirah Group’s hotel and operations teams to craft an all-encompassing well-being strategy. This will include spa services, fitness offerings, longevity programs, therapies and holistic wellness, as well as branding, design and programming.
Katerina Giannouka, CEO of Jumeirah Group, said: “The relationship our guests have with wellness and well-being today has transcended from isolated treatments offering a functional fix, to an all-encompassing guided approach to longevity, life balance and self-care. Niamh is a world-class expert in this space and I’m delighted to have her join our team at Jumeirah Group as the vice president of wellbeing. This is a new role we deemed essential as we begin to invest strongly in advancing our wellbeing offering through new concepts, therapies and partnerships, designed to enrich the life and wellness experience of our guests while staying at Jumeirah Hotels & Resorts.”
O’Connell has a track record in leading global teams recognized for their innovation and service excellence. Prior to joining Jumeirah Group, she held senior roles at Hyatt International Hotels & Resorts. Most recently, O’Connell was the group vice president at Rosewood Hotel Group, where she was responsible for the strategic development of wellness and brand experience. Recognized for her strategic brand vision and consistent delivery of exceptional guest experiences, O’Connell has developed an outstanding reputation for creating unique touch points across the guest journey.
Commenting on her new role, O’Connell said: “It is a true privilege to join Jumeirah Group at this pivotal moment in the brand’s journey. Over the past three years, a remarkable shift in the landscape of well-being has been witnessed, and now the industry stands on the brink of an exhilarating transformation. I look forward to inspiring a new approach to well-being across our hotels and resorts, guided by the principles of lifelong learning, longevity, and inclusivity. By adopting this approach, my aim is to ensure we empower our guests to enhance their physical and emotional well-being through sustainable wellness practices.”


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Electronic skin can display a heartbeat on your hand.
The last few years have seen a number of flexible, electronic skin patch concepts for things like administering medicine or monitoring health conditions, but the latest version from researchers at the University of Tokyo adds an LED display to the mix. The ultrathin patch is made from flexible, breathable material, and can both measure and display a wearer’s heartbeat in realtime.
By using nanomesh electrodes and stretchable wiring, the patch features a micro LED array that can bend with the skin and display simple, animated imagery, such as an electrocardiogram waveform. The idea is for the patch not only to project health information to the wearer, but also let other people know what’s wrong in an emergency.
Also impressive is the fact that the sensor can pair with a smartphone for storing the biometric data and even transmitting it to the cloud. The researchers envision the patch as a non-invasive health monitoring system for the elderly or home-bound, with healthcare officials able to remotely monitor a wearer’s condition.
The patch can be stretched to a maximum of 45% of its original length, and it’s designed to be much more resistant to wear and tear than previous skin displays. The University of Tokyo and Japan’s Dai Nippon Printing hope to begin mass producing the patch within the next three years, with improved reliability and the ability to cover larger areas.


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The country’s electronics giant ‘Walton’ slashed the prices of its various models of LED televisions substantially, ranging from Tk 800 to Tk 3,100, following the winter season, celebration of new year and the imminent 22nd Dhaka International Trade Fair-2017.
Under the ‘Winter Offer,’ the Walton authority reduced the prices of its LED TVs with effective from the first day of the current month.
As per the new offer, the price of Walton brand 19-inch LED TV is now sold at Tk 8,990, reduced Tk 910 from its previous price of Tk 9,900. By reducing the price of 20-inch LED TV by Tk 1,000, Walton fixed the new price at Tk 10,900. Price of 24-inch LED TV is now fixed at 13,700 after reducing the earlier price by Tk 800. The customers can now buy a Walton brand 28-inch LED TV at Tk 15,900 while they had to pay Tk 17,900 earlier. After slashing the previous price of 32-inch LED TV by Tk 3,100, the new price is set at Tk 18,800. Besides, prices of Walton brand 39, 40, 43, 49 and 55-inch LED TV are now fixed at Tk 30,900; Tk 33,700; Tk 42900; Tk 57,900 and Tk 70,900.
In the upcoming DITF-17, Walton is going to introduce its latest innovative design of LED TV named ‘Next Generation SpectraQ TV’ that will offer amazing display technology, power efficient featured and unmatched colour quality, the Walton officials, said adding, The Walton brand SpectraQ TV with QD (Quantum Dot)Plus technology’s backlight system would increase the range of colours by 98-99 percent than the televisions with normal technology based panel system.
Abdul Bari, first senior assistant director (television marketing) of Walton Group, said the customers’ faith and self-reliance on Walton brand’s LED televisions have increased significantly during the current year due to its some unique specialties like produce LED TVs with latest technologies, assurance of world-class standard, affordable rates, eye-catching designs and colours, six months replacement warranty, two years warranty for LED panel and other spare parts, 5 years free service facility, nationwide sales and service points.
In the current year, the sales of Walton brand LED televisions have been increased by about 325 percent compared to the previous year’s sales, he added.
Television engineers of Walton Group are working ISO class 7 Dust Free Clean Room at Walton Micro-Tech Corporation
The Walton officials said, separate manufacturing lines were set up at Walton Micro-Tech Corporation at Chandra in Gazipur for producing plastic cabinet, speaker, remote control, mother board, electric power cable and LED TV panel. After commencing the local production of LED TV, Walton has been able to cut down the prices of LED television gradually.
Engr. Farhad Hossain Mamnun, first senior deputy director and television R&D in-charge of Walton Group, said, application of world’s latest technology in Walton LED TVs is resulted in slashing the prices, along with further improving the quality of produced televisions by following ‘zero tolerance’ policy.
Application of world’s latest technology in the production process, addition of state-of-the art machines, increase of production following upward demand and production of all necessary parts at Walton Micro-Tech Corporation are resulted in the reduction of fixed factory overhead, which led the local brand to reduce the prices of its LED televisions substantially, he added.
Engr. Mostafa Nahid Hossain, first senior deputy director and head of television sourcing engineering dept.) of Walton Group, said, one of the prime objective of Walton is to supply world-class LED television to the local people at cheap rates. In this regard, Walton made remarkable success, he added.
At now, approvals of 28 patents of Walton in the world’s television research are under process, he said adding, they are using IPS (In-Plan Switching), ADS and HADS technology based panel in their produced LED TVs, which are resulted in giving wide viewing angles and high contrast pictures to the viewers.
In addition, the use of Dolby digital sound system, DLED and ELED backlight with dynamic backlight control, high standard mother board and motion picture in Walton LED TV are resulted in delivering incredibly vibrant colour, better sound as well as sharper images.
The panel of LED TV is being produced with highest standard at ISO class 7 Dust Free Clean Room, he added.
Copyright© 2019 and all rights reserved by - All Sister Concerns of WALTON Group


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In the UK, financial services firm Western Union has expanded Diane Scott’s role to that of Executive Vice President and Chief Marketing Officer, as part of a restructure focused on customer response and business growth.
Since Scott joined Western Union in 2001, she has held a variety of positions including General Manger of the US domestic business and SVP for Marketing in the Americas. Most recently she was Chief Marketing Officer, responsible for leading the group’s strategic global marketing development. She was previously the Marketing Director for US West Dex and Izodia Corporation, and began her career working in the ad industry at McClain Finlon Advertising.
In her new role, she is responsible for leading the company’s strategic global marketing development, including brand strategy, customer segmentation, customer experience and market research/analytics. She will also oversee corporate communications and corporate social responsibility.
President and CEO Hikmet Ersek says that the changes are being made to the executive team to enable the firm to respond to the needs of global customers more quickly and effectively. ‘I have every confidence that this is the right team to guide Western Union to great success. Each of these leaders has an excellent track record and they will help us to execute on our key strategies.’


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Los Angeles, CA (PRWEB)
June 28, 2017
MetaX, a blockchain technology company driving development and adoption of open platforms for digital advertising, completed its token sale of $10 million on June 26th.
The launch sold out in one block.
- The sale reached the cap of 10 million USD in 23 seconds
- A total fixed supply of 1,000,000,000 adTokens were issued
MetaX and ConsenSys jointly created adChain, a blockchain-based open protocol that’s programmable to the needs of the digital advertising industry. The sale will fund further product development and innovation to help streamline the $175 billion digital advertising supply chain that’s riddled with transparency issues.
Use of proceeds will go toward the advancement of product development, general administrative duties, business development/marketing, consulting, and legal.
“The adToken launch is a culmination of more than 15 months of hard work. We’ve paid attention to meticulous details in the development of this product to ensure it caters specifically to the needs of the industry we’re serving – global digital advertising,” said Ken Brook, CEO of MetaX. “This is why we also spent nearly a year in due diligence with representatives across the ecosystem and have lined up strategic industry partners, such as the Data & Marketing Association, and others to be announced in coming weeks. The overwhelming interest from the crypto community clearly demonstrates the recognition of the big problem we’re setting out to solve.”
“I’m genuinely proud of the crypto-economic game we designed to incentivize human behavior as part of the adChain registry. Lead developer Mike Goldin truly excelled in his rigorous technical development to ensure our launch went smoothly. This next year will be filled with building out…


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Singapore Customs foils importer's bid to distribute trademark-infringing goods to shops
Photo: Singapore Customs
An importer's plan to distribute fake goods to shops in Singapore was foiled by Singapore Customs.
Customs officers found 159 cartons and nine sacks containing toys, water bottles, bags and accessories featuring popular superhero and comic characters such as Batman and Captain America in a container they inspected at the importer's premises at Playfair Road.
More trademark-infringing goods were found when they search the office of the importer.
The police's Intellectual Property Rights Branch was immediately notified.
A man and a woman were arrested for possession of the fake goods.
The goods were also seized.
Investigations are ongoing.
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Visa http:// … more
An it appears that the anticipated result of these actions will be to steer consumers away from debit and toward reward credit and charge card products that carry more expensive merchant Interchange rates.
"An Associated Press-GfK poll last month found that about two-thirds of consumers use debit cards more frequently than credit cards. When asked how they would react if they were charged a $3 monthly fee for their debit card, 61 percent said they'd find another way to pay. If the fee was $5 a month, two-thirds said they'd do the same. If the fee was $7, the figure rose to 81 percent."
Our concern for small … more
Automating the invoice approval process is the next logical next step for companies that are already reaping the benefits of front-end electronic invoice systems. Organizations that have experienced successes through employing digital imaging are seeing visible improvements and are actively moving towards further AP automation.
Research conducted by PayStream Advisors confirms these trends and notes that automation to date has been operations driven, with quicker approval of invoices being the main cited benefit. Companies in the survey also experienced lower processing costs and increased productivity.
Automated workflow solutions in the accounts payable (AP) arena are maturing as the … more
“In the time it takes to break into a major company like Citigroup Inc., a hacker could steal data from dozens of small businesses and not get detected, says Bryce Case Jr., a former hacker who broke into several government and corporate websites a decade ago and now runs an online message board for hackers called Digital Gangster. Now that small companies use computers, "the juice has become worth the squeeze," he says. "Even a pizza place has addresses, names and credit-card information."
Whether you store card holder … more
Under these new rules, debit card issuers must add at least one unaffiliated network to each debit card. For example, Visa has exclusive arrangements with issuers to use both its signature debit and PIN debit networks. Now debit card issuers will need to add an alternative network to Visa.
In response, Visa says they will implement a new Network Participation fee that will be based on a merchant's size and number of locations while at the same time lowering the variable rate charged per transaction. This Visa strategy is intended to … more
While Interchange fees are scheduled to move lower in October, this new Visa fee (like other Visa fees charged to acquirers) will be pass through to merchants in one form or another. Given this fact, the idea is that the more Visa transactions a merchant accepts, the lower this new fixed location fee becomes on a per transaction basis.
Now that the final Fed rules give merchants control over the routing of transactions, Visa hopes that this … more
The biggest innovation coming soon to the paper check is the digital check. Keeping all the benefits of its paper form except the piece of paper, we expect the digital check will usher in big changes in the payments industry. more
October Debit Interchange Savings
Here we take a look at the current Visa and MasterCard charges for the processing of debit cards for retail, restaurant and ecommerce merchant categories to project possible savings for a range of transaction sizes from $10 to $75.
For example a merchant … more
The rule was slated to take effect on July 21, yet with less than one month to put in place all the mandated provisions, more time is required to implement these changes. For example, it will take … more
"What we found was that in addition to popular consumer oriented products like debit cards and rewards cards, today’s buyers are using several types of commercial card products including business, corporate, fleet, purchasing and GSA purchasing cards”, says Henrique Ceribelli, product manager at Bill.com. "We built our integrated merchant services solution so our clients could accept both consumer and commercial … more


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StartUp Bahrain, a prominent platform supporting startups in the Kingdom of Bahrain, recently hosted the seventh installment of the StartUp Bahrain Pitch series. Collaborating with key industry players such as the Ministry of Industry & Commerce, the Labour Fund (Tamkeen), the Bahrain Economic Development Board, and Bahrain Development Bank (BDB), the event attracted significant attention within the entrepreneurial ecosystem.
During the event, entrepreneur and investor Bader Al Essa delivered a keynote speech, emphasizing the significance of setting specific, measurable goals in accomplishing entrepreneurial objectives.
The pitch event highlighted four Bahraini startups, presenting their innovative business concepts to a distinguished panel of judges comprising local and regional experts. The panel included Ali Abdulhussain, Investment Manager at Oman Investment Authority; Sameer Uchi, a board member of Bahrain’s Hope Fund and a serial entrepreneur; Suzy Kanoo, CEO of Khalil bin Ebrahim Kanoo; and Bader Al Essa, an entrepreneur and investor from Kuwait.
These startups, representing diverse sectors, emerged after undergoing an intensive fundraising and pitching bootcamp, ‘Raise: Art of Fundraising,’ conducted by industry experts.
The participating startups covered various niches: Kashta Tours, focusing on innovative leisure trips and programs for all; Xtrude Engineering, a company specializing in digital manufacturing solutions; Faceki, providing AI-powered facial recognition and identification technology; and TWB Watches, a local luxury watch retailer.
Following rigorous evaluation, Kashta Tours, led by founder Ahmed Jamsheer, was declared the first-place winner.
Expressing gratitude, Jamsheer noted, “The bootcamp experience equipped my team with invaluable skills and a deep understanding of fundraising and the market.”
Jamsheer further highlighted the event’s significance, stating, “The StartUp Bahrain Pitch event provided a crucial platform to showcase our business. We highly appreciate the collaborative efforts of the Ministry of Industry and Commerce, Tamkeen, the Bahrain Economic Development Board, Bahrain Development Bank, the esteemed panel of judges, and, of course, StartUp Bahrain for their unwavering support and for granting us this incredible opportunity.”
Entrepreneurs eager to participate in the next StartUp Bahrain Pitch cohort are encouraged to stay updated with new announcements and details through startupbahrain.com/pitch. For those interested in engaging with StartUp Bahrain and its initiatives, following @startupbahrain on social media and getting in touch for more information is advised, according to a statement.


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Over the next few years, capital markets in Europe will be undergoing dramatic changes, changes that you could broadly describe as “liberalization.” This liberalization is going to be both legal, as the advent of the euro allows pension funds and the like to invest wherever they want in Europe (as opposed to being limited in their investments outside their home countries), and cultural, as the dogma of shareholder value spreads. One consequence will be more hostile takeover attempts of the kind that Olivetti launched this weekend against Telecom Italia.
In one sense, this will be a good thing, because it should shake up entrenched managers who have been running companies as private fiefdoms and result in the breakup of conglomerates whose various pieces don’t belong together. After all, a plausible case can be made that the takeover wave of the 1980s injected a necessary note of urgency into corporate America, and made American businesses far more efficient and profitable than they had previously imagined.
Paradoxically, though, it’s not clear that the takeover wave made the businesses that actually got taken over more efficient and profitable. As nearly everyone recognizes by now, most acquisitions are mistakes for the acquiring company, which tends to overpay in expectations of gains–either from synergy or from superior management–that never arrive. Certainly it’s hard to think of a superior American company that’s been created by a large- scale acquisition, with the notable recent exception of MCI/WorldCom (DaimlerChrysler may also count; the jury is still out on Citigroup). In other words, the beneficial effects of the takeover wave may have really been on those companies that made changes in order not to be taken over.
One reason for this seems to be that takeover attempts so often seem motivated by considerations that, strictly speaking, don’t have anything to do with the economics of the deal. Take Olivetti’s offer, which involves a relatively small company trying to take over a very large company.
In order to take over Telecom Italia, Olivetti is going to sell its stake in its own cellular business to the German powerhouse Mannesmann A.G. for $10 billion, then raise another $50 billion by borrowing and selling off other assets. If it succeeds–which at this point actually seems somewhat unlikely–it will own Telecom’s cellular service (instead of its own) and its massive land-line business, which is clearly the prize jewel. It will also have more than $40 billion in debt on its balance sheet. And since Telecom is going to fight the takeover, that means the price of the deal will likely rise. Telecom Italia’s shares may well be undervalued, because it generates a huge amount of cash and its stock is still suffering the effects of 18 months of management turmoil. But investing in Telecom because you think it’s a bargain is one thing. Eviscerating your own company and getting in hock up to your ears to buy the whole company is another. Especially when you’re doing so for non-business reasons.
Olivetti’s chairman, Roberto Colannino, has done a good job of reinventing his company as a telecom company, selling off floundering PC and information-technology divisions, building a land-line infrastructure, and making a very profitable move into cellular service in partnership with Mannesmann. But Olivetti is now about a fifth of the size it once was, and Colannino apparently wanted something bigger.
In addition, Colannino, in trying to sell the deal to government officials, has emphasized that if Olivetti doesn’t take over Telecom Italia, someone else will, and that someone else will likely be a non-Italian company. Obviously, this isn’t really a good reason for Olivetti to make the deal–looking out for the national interest is hardly a recipe for business success–but Colannino seems to think it’s important. Then there’s just the chutzpah aspect of it. This weekend, the Italian prime minister told the Wall Street Journal, “At this point, you have to appreciate [Olivetti’s] courage.”
Here’s a good rule of thumb: When companies are praised for being courageous in making a deal, it’s a bad deal.