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China is not only the world’s largest auto market, but is also a major market for the rising transportation services – such as chauffeured cars that offer rides akin to taxis, but with the advantage of flexibility and added usability.
Essentially, the best known car sharing service provider today is Uber Technologies – which was established just a few years ago in San Francisco (2009) and has then expanded on a global scale. In China, the rides have become so cheap as competition grows that most often clients can have rides for free – Uber has been emulated by a myriad of other rival services and large incentives are now needed to win new customers. The technology industry is treating Uber and its lookalikes as the next big thing, with venture capital and hedge funds pouring in billions of dollars as they bet on their rapid expansion. In China, there are hundreds of millions of paying commuters to be won and companies are treating market share as the primary goal, even in the face of dwindling profitability. “Unlike previous price wars, where they were mainly attracting new users, they now need to fight to grab each other’s users. They’ll need to have enough capital so that they can last,” comments Zhang Xu, a Beijing-based analyst at Analysys International, an advisor of Internet companies.
Uber is planning to spend more than one billion dollars in China this year, according to a letter sent to investors by chief executive officer Travis Kalanick – the company’s traffic in the country has doubled last month to close to one million rides per day. With Alibaba Group Holding Ltd. and Tencent Holdings Ltd. as the parents, major competitor Didi Kuaidi said it would offer free rides to commuters worth 1 billion yuan ($161 million) to fend off Uber and local rival Yidao Yongche.


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Privacy and security barriers to mobile payment use
Mobile penetration in the US and Europe continues to rise, but consumers remain skeptical about using their mobile device as a means of replacing cash and credit cards, according to new research released by management consultants Bain & Co.
In a survey of 25,000 US and European consumers for their "The Consumer View of Mobile Payments" report, Bain & Co confirms what other studies have already shown - mobile payments are yet to catch on.
While awareness of mobile payments options is rising - over half of all respondents and 70% of Europeans were aware - only 25% overall said they would be willing to use their device in-store to pay for items.
Forty percent of all respondents said they simply saw no need to change their current methods of making payments. However, the majority (80%) said privacy and security concerns did not yet out-weighing the convenience of mobile payments.
The report did show some willingness to try out mobile payments. While only 3-7% of the 25,000 consumers, varying by country, said they have previously used mobile payments in stores, 16-27% said that they are willing to try.
"The case for mobile payments has been a long time in the making, but still remains unconvincing for many consumers," says Stephen Bertrand, lead author of the report. "But our study of 25,000 consumers shows that the size of the prize is substantial for those banks, retailers and other digital wallet providers able to create customized value propositions for the growing number of people signaling their willingness to shop on their mobile devices."
Recent research released by the Yankee Group found that, despite 67% of Americans now owning a smartphone just 16% had used one to make a payment in-store. Even among those that are using a mobile wallet few are using them on a regular basis.
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Victoria’s Secret shifts image with new faces for Asia
US lingerie retailer Victoria’s Secret has unveiled two new brand ambassadors as it looks to Asia to reverse its struggling fortunes.
The appointment of popular actors Yang Mi and Zhou Dongyu marks a change from using models to represent the firm.
It also appears to be a shift away from the US brand’s overtly sexualised image.
The high-profile partnerships come even as an agreement to take over the company looks to have collapsed.
On Thursday Victoria’s Secret appointed Chinese A-lister Ms Yang as its Asia brand ambassador.
She is one of China’s most successful and highest-paid actors, who has appeared in TV dramas that are hugely popular in Southeast Asia, South Korea and Japan.
Ms Yang suggested that her involvement with the brand was part of a reshaping of its image: “Through a completely new interpretation, I want to make sexiness a natural expression in life, and it to become a more positive and beneficial force.”
Earlier in the week the firm announced that film and TV star Ms Zhou would be the new face of the brand in China.
Ms Zhou is perhaps best-known for her roles in the feature films Under the Hawthorn Tree and Soul Mate as well as the hit teen drama Better Days.
“I define sexiness as being comfortable, nonconformist, and expressing (oneself) in a natural state. It should be we who define sexiness, not we who are defined,” she said in a promotional video.
The announcements come in the same week that a buyout firm which had agreed to take control of Victoria’s Secret said it was pulling out of the deal.
On Wednesday Sycamore Partners said it had walked away from a $525m (£425m) agreement to buy a majority stake in the firm.
It came after the lingerie brand shut down stores and furloughed staff in response to the Covid-19 outbreak.
In response, the owner of Victoria’s Secret, L Brands, said it would challenge the move, setting up the first high-profile legal battle in the US over the termination of a merger agreement because of the coronavirus pandemic.


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Dish believes the wireless high-speed Internet Sprint offers is the future of streaming TV.
Dish is willing to pay $25.5 billion for Sprint because it thinks the wireless high-speed Internet Sprint can offer is the future of streaming TV. If the deal goes through, the satellite provider would offer Internet delivered wirelessly from Sprint cellphone towers to a rooftop antenna, Dish Chairman Charles Ergan told The Wall Street Journal's Shalini Ramachandran and Anton Troianovski. So instead of losing customers as they make the inevitable shift from bundles of television to streaming, Dish can ensure it controls the tubes for the new mode of consumption. Like Comcast, and other pay TV entities that also sell Internet, Dish would like to have something to gain from the shifting viewing trends.
Dish more than other pay-television companies has its eye on the future. Ergen before has said he already thinks people are cutting the cord. So, it's being proactive. Ideally Dish would like to hook people to pay TV early, he said in that same interview. That's where innovations like the Dish Hopper—which allows consumers to skip over commercials completely—come in. But, he ultimately knows that television watching is heading to the Internet, a la carte style, he said during an AllThingsD interview. "The Internet is really a la carte today," he said. "That's ultimately where we have to compete." What better way to compete than getting people to pay his company to serve them the very Internet that runs that online video.


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Passenger vehicle dispatches rise 11% in July as chip situation improves
The passenger vehicle dispatches to dealers increased by 11 per cent in July as improvement in semiconductor supplies helped the companies to ramp up production ahead of the festive season, auto dealers' body SIAM said on Friday.
Palm oil imports fall in July as soyoil jumps to record high
India's palm oil imports in July fell 10% from a month ago, as refiners ramped up purchases of rival soyoil to take advantage of New Delhi's move to allow duty-free imports of the vegetable oil to calm all-time high prices, a trade body said on Friday.
Paytm slips 6% on questions over CEO reappointment, regulatory fears
Shares of digital payments firm Paytm fell 6.2% on Friday, hit by a proxy advisory firm's opposition to reappointment of its chief executive officer and the central bank's guidelines for digital lending apps.
Explained: What does the WazirX controversy mean for crypto investors?
India’s largest cryptocurrency platform has been in the news all of this week after the Enforcement Directorete revealed that it conducted searches on one of the directors of Zanmai Labs, which owns WazirX, and issued an order to freeze bank balances totalling Rs 64.67 crore. WazirX is being investigated for money laundering.


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Economic transactions have historically been characterized by asymmetry of power and information. Although free market competition has created pressure to innovate and improve productivity, producers have historically held a near – monopoly of information and, therefore, power over consumers. The information technology revolution, and above all the internet, have now turned this on its head, so much so that we are currently witnessing the democratization of commerce: For the first time, the customer is genuinely king. This is transforming the relationship between banks and their customers.
A double challenge for banking
Bankers are already facing major constraints on their business as policy makers and their regulators try to prevent a recurrence of the recent financial crisis. Responding to all this while coming to terms with truly transformational change in their customer relationships will be an enormous undertaking. It is evident that banks are yet to fully appreciate the rate and implications of it.
For better or worse, the payments business holds the key to the transformation facing banking. At the moment, payments is seen as a matter of back-end, back-room transaction processing. The priority is often to manage it as cheaply and efficiently as possible, preferably by centralizing it in some low-cost operational center, often off-shoring it to a low-cost economy. But the business of payments is a core banking function and it underpins all others. Nothing happens without payments, which are at the heart of all economic transactions. What is immensely significant is that technology is going to revolutionize the use or function of payments in the consumerist age: Reducing costs, lowering barriers to entry, increasing functionality and yielding higher quality information.
Power will shift to customers, transaction processing will be commoditized and traditional franchises and revenue pools will either be disrupted or evaporate. Welcome to the new world of payments.
New entrants and innovation
We are already seeing that traditional banks no longer have a monopoly of the payments business. Many new payment service providers are entering the field – think of PayPal, Google Wallet and Square to name a few – some of which have become massively successful in a very short time. In 2011, for example, PayPal counted 106 million active accounts in 190 markets, and processed a net total payment volume of US $118 billion. One key characteristic underlies the success of these new entrants: innovation.
Traditional banks are slow to innovate. This is a consequence of historical conservatism and is a function of complex corporate bureaucracy; historically, there has also been a lack of competition and no real imperative to innovate. As a consequence, it is often necessary for regulators to press banks to respond more effectively to consumer demands and needs. The example of Faster Payments in the UK is a case in point, being introduced only as a result of regulatory pressure. Until then, the concepts of automated clearing owed more to the technology of the horse and carriage than the computerized process. Real innovation in payments is being stimulated by new entrants creating dynamic business models to respond to changing customer requirements. Traditional banks are now having to respond. The loss of trust in banks following the crisis has significantly increased regulatory scrutiny and pressure at the same time as customers have become more demanding. And it is not just retail customers. A number of large corporations are acquiring banking licenses themselves – Siemens for example, which is now able to go directly to the European Central Bank for liquidity and deposit surplus cash there.
Banks’ historic franchise is therefore under attack from many directions at once. In the payments field, this raises three questions: To what extent is the threat significant? How and to what extent can the banks respond? And what will the industry look like in 10 years’ time?
To answer the first question, it is instructive to consider why so many new entrants are converging on payments. To some extent, of course, it is because setting up an in-house payments capability is complementary to the core business. PayPal, for example, was acquired by eBay in 2002, with obvious benefits both for the online auction business and for its customers. But there are other benefits.
First, there is the purely financial value of attracting mass customer payments and deposits: Processing transactions, even if the great majority of them are cleared rapidly, can generate massive liquidity, and very cheaply.
However, far more significant in the longer term is what the intelligent application of information technology can deliver when allied to a payments system. This is especially true of systems with mobile capability, for example, when allied with mobile phones. Traditional payments instruments – think checks – provide little information about a customer. By contrast, information technologies can in principle deliver massive amounts of detail about individual consumer habits, preferences, interests, purchases and physical locations: Where they shop, where they live, where they visit on the internet and what they buy. The potential for tailored marketing, cross-selling and up selling is enormous.
To give evidence of change, in April 2012, Google acquired the payment technology company TxVia to broaden its digital payments offering. As a result, Google Wallet will be potentially accessible to all Google users, including users of the 100 or so significant businesses Google now owns such as YouTube, Picasa and the Android Smartphone operating system,3.4.
Can traditional banks respond?
In the early days of this challenge, there is substantial mileage to be gained in improving existing systems and business models. As we have seen, conventional payments are indeed becoming more efficient and responsive. But at some point, radical change will be necessary, and banks are going to find this hard.
Even as retail banks work hard to establish a single customer view and to get a customer’s name right more consistently and more reliably in their communications than ever before, the new kids on the block are delivering 70-100 points of consumer-driven data personalization in their current customer interactions. They are currently investing in next generation algorithms and data strategies. The imperative to invest in payments will, of course, present challenges to organizational structures and to traditional investment processes: It will have to compete with other demands and avoid being crowded out by the mandatory ‘dead hand of regulation’; it will also need a new culture and a new approach.
One irony is that banks may soon be caught out for a second time in how they respond to these technology challenges. As we have seen, in the last decade or so, the typical pattern for the payments function was to centralize it in areas where economies of scale and skill could be maximized, far remote from the customer. Now, in response to the need to reconnect with customers, the trend is moving into reverse. Functions are being restored to the front line; direct contact with the customer is becoming paramount. But this is happening just at the point when technology is becoming capable of really significant individual personalization and connection.
Advanced payments and communication technology, when effectively implemented, can provide the customer with a rich and tailored experience which is simply unavailable otherwise. And it can do so at the point when they most need credit or access to payments.
The future payments landscape
We have seen where innovation is leading and where payments innovators are heading. By contrast, we are concerned that conventional banks, for a variety of reasons, will find it hard to respond. And so that leads to the final issue: What are the implications for the structure of the payments industry in a decade? Two conclusions can be drawn: First, it is likely to be very different; new entrants to payments will also be offering other core banking services. We have already seen this in credit cards; deposit services and lending are next. Second, if traditional banks do not respond rapidly and effectively, the major payments players in the future will include companies such as Google and Apple or perhaps Wal-Mart. With their closer connection to the customer, their entrepreneurial culture and superior customer service, they could truly threaten banks’ existence. The looming threat from such massive global players should make any bank think long and hard about its business model for payments.
The future of payment systems
Payment technologies and companies currently operating outside the regulatory framework of financial institutions are beginning to behave more like banks as they diversify into new technologies and services. This will gain the attention of the regulators and as they come under focus of the regulators and face regulation it may lead to a change in their business models.


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Senior officials from Dubai’s Economic Zones World (EZW) at the India Club, the oldest Indian business and cultural organization here, discussed expansion of commercial ties with India and opening of new avenues of cooperation and investments in many key sectors.
Economic Zones World Chairman, Mr Hisham Al Shirawi said that the Indian business community in Dubai has been an important contributor of the domestic economy and played a vital role in the process of nation-building for decades.
He was invited to the annual Member Networking Centre Lunch as Chief Guest Speaker where he talked to a group of 200 businessmen and community leaders.
Economic Zones World is home to 693 Indian companies with 679 companies based in Jafza while the rest are in Ducamz and Textile City.
Last year, there were 65,303 Indians working in the Jebel Ali Free Zone.
India is Dubai’s largest trading partner. According to Dubai World’s Statistics Department, the non-oil trade between Dubai and India in 2010 reached a record 183 billion dirhams, twice the figures achieved in 2009.
Imports from the country were valued at 88 billion dirhams, 16 per cent of Dubai’s total imports, while exports and re-exports stood at 43 billion dirhams and 52 billion dirhams respectively.
Non-oil trade between Jafza and India was valued at AED 12.77 billion in 2010, registering a jump of 25% compared to 2009 figures.
“Dubai and Jafza’s business friendly policies and its highly developed and sophisticated infrastructure, and logistics framework have attracted Indian companies since the free zone’s inception 26 years ago.
“Our meeting with this established Indian organization is yet another step towards strengthening the existing relations with the country,” Mr Al Shirawi was quoted as saying in the statement.
According to him, EZW and India Club’s joint efforts will strengthen trade relations, facilitating and opening channels for other Indian companies looking to do business in the region.
The India Club Board of Trustees includes 20 major companies such as Air India, Jumbo Electronics, K M Brothers, and Regal Traders among others.


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Flats for short-term rentals on the rise
The increasing number of flats being turned into short-term rentals is impacting on hotels and also rental properties in Prague and elsewhere in the Czech Republic. But worldwide, some cities are starting to regulate short-term rentals for both public safety and to stop distortion of the real estate market. So far, regulations have not been proposed in the Czech Republic.
Between 2015 and 2016, some 3,000 flats went into use as Airbnb accommodations in Prague, and the total was over 7,000 flats for short-term accommodation, according to experts cited by daily Hospodářské noviny (HN). Real estate portals in Prague currently list fewer than 3,000 flats for long-term rental.
Due to low mortgage rates, Czechs have been buying flats to rent out. By renting long-term an owner can get Kč 20,000 per month for a flat in the center of Prague, but by renting short-term to tourists the owner can get three times as much, Martin Satar of Tide Reality told HN. At one new project near Wenceslas Square about 40 percent of the flats sold were to people who intended to use them for short-term rental, Tide Reality executive director Pavel Velebil said.
Real estate firm Svoboda & Williams also registers demand for apartments for short term rental. The company said that only a limited number of flats are suitable for services like Airbnb. These are smaller flats and ones located in Prague 1 and the neighborhoods of Vinohrady, Žižkov and Smíchov.
It isn't just tourists using the short-term rentals. Another factor that puts pressure on flats in the city center is visiting film crews, for example. Producers seek furnished flats in the city center for one to six months for actors and technicians.
Rental prices should increase 10 to 20 percent this year in all locations and especially for smaller flats. The cause is due to demand from people moving to Prague for jobs due to the improved economy, according to HN. Long-term rentals at affordable prices vanish from the listings often the same day they are posted. Airbnb prices are also likely to go up.
But not everyone is happy with short-term rentals. Experts from Svoboda & Williams and Tide Reality said that many people return to long-term rentals after trying short-term ones. Despite the higher money, short-term rentals require a lot more work and also cause more wear and tear to the flats. It also causes more complaints from the neighbors as tourists on vacation can be loud, and neighbors also object to the number of strangers in the building and the possibility of increased theft.
Some Prague buildings are now prohibiting short-term rentals in their rules, though enforcing this sometimes ends up in court.
Efforts are beginning in the United States to regulate short-term accommodation services such as Airbnb. The state of New Jersey is discussing a law that allow cities to regulate or ban rentals for under 30 days under certain conditions. The number of short-term rental units in a building would be limited, and liability insurance would be required. The stated reason is for public safety. New York City is also considering regulations, as the short-term rentals have impacted adversely on the real estate market.
In Europe the cities of Berlin, London and Amsterdam have already imposed some restrictions on short-term rentals.


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The world’s largest private jet, the new Gulfstream
The company’s new private jet will cost 70 million euros and will be available in 2022.
Gulfstream plans to build the world’s largest private jet. The strategy is to position itself as a leader in the luxury private jet market, gain its fame and surpass its own brand. The company plans to launch the new G700 on the market by 2022. For the moment, it has limited itself to confirming that the project is underway and giving the details of its new proposal.
The Gulfstream G700 will be priced at around € 70m and will be able to cover nearly 14,000 kilometers and fly at almost the speed of sound. According to the statements of the president of the company, Mark Burns, it will have the highest, widest and longest cabin in our industry.
The company’s effort to attract the wealthiest airmen is paying off 3 years before its debut: Qatar Airways has ordered 10 of these aircraft for its Qatar Executive charter service as soon as it got the news. A boost Gulfstream needed after Bombardier dethroned it with its Global 7500, which last year emerged as the world’s largest private luxury aircraft.
Aviators, eager to add new parts to their fleet and renew it, live a moment of tense uncertainty. They are concerned that lower prices will slow down the aircraft market. According to a study by Honeywell International Inc, deliveries will begin to decrease as of 2021 due to several factors: one of the fronts is the trade war between the United States and China, another threat is Brexit and the global instability that threatens the economy in the next years.
The aeronautical industry, on the other hand, does not stop producing specimens. The announcement of the new Gulfstream titan comes after two smaller aircraft created in the past decade, the G500 and G600, hit the market. The company began delivering the G600s to customers in June, and the G500 was released approximately a year earlier. The first model was introduced in 2014, the second in 2012.
Among the most popular brands among celebrities and millionaires is Cessna Citation, which sold 703 aircraft this year, 26 more than last year and 188 of them went into private hands. The Bombardier company sold 137 jets to individuals. The two aeronautical giants are followed by Gulfstream with 121 models sold last year.
Gulfstream’s new jet will be a more spacious version than its G650, long the world’s largest aircraft until the arrival of the Global 7500, and a few weeks ago a unique specimen of unbeatable specifications hit the market: Paul Allen’s private jet, an air titan difficult to dethrone as the world’s largest and most expensive ship: it costs 363 million euros.
Norwegian seeks to turn its creditors into shareholders
Norwegian wants to turn its creditors into shareholders. Norwegian wants to turn its creditors into shareholders. Norwegian has called an extraordinary shareholders’ meeting to try to convert debt into shares and access aid from the Norwegian government.
After completing the first phase required by the Norwegian Government to be able to access aid of up to NOK 3 billion, Norwegian seeks to fulfill the other two.
Thus, it has convened for May 4 an extraordinary shareholders’ meeting for them to approve the management’s proposal to capitalize the debt with different parties, which include aircraft leasing companies, bondholders and convertible bonds, and providers. Authorization will also be sought for a bond issue “against the cash consideration with a possible preferential treatment for the current shareholders of the company.”
With the passage of these measures Norwegian hopes that: “The debt conversions and new capital, which will again release the liquidity provided by the government’s guarantee program, ensure that the company can maintain the current environment and prepare to Norwegian to gradually reopen its route network and bring employees back. The company hopes to fly once again and serve its dedicated and loyal customers, “they said from the low cost airline.
Jacob Schram, CEO of Norwegian stated in announcing the meeting that: “We have already started work on building the future ‘New Norwegian’ and that work will continue in full force in the coming weeks.”
Brussels authorizes the purchase of LSG by Gategroup
The European Commission has authorized the sale of the European part of the catering company LSG to Gategroup with conditions.
Gategroup, parent company of Gategourmet and Servair, Swiss catering companies, has been authorized by the European authorities to buy the European division of its Lufthansa Group counterpart, LSG Sky-Chefs. The operation does not include LSG’s on-board sales business.
Both companies announced their preliminary agreement, pending this authorization, in February. This has now arrived, but with the restriction that Gategroup must help the entry or expansion of other companies in the sector at the airports of Brussels, Berlin -Tegel, Cologne, Dusseldorf, Hamburg, Munich, Paris – Charles-de-Gaulle, and Rome- Fiumicino, where the operation will leave a single catering provider to the airlines or a single viable one. Gategroup had already offered the Commission to sell the business at airports where these problems could be. Including facilities and equipment and supply to aircraft and transferring its personnel to the buyer.
In the rest of the airports in Germany, Belgium, Spain, the Netherlands, Italy and Switzerland where one or both of the companies operate, the European Commission has seen no obstacles to the sale.
However, the European Commission, in its opinion, recognizes the difficulties for new suppliers to enter this sector, as well as for airlines to change suppliers, especially if the new companies are not present in the aeronautical catering segment or at that airport. .
Both parties must comply with the restrictions before they can sign the final agreement.


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Bullish group is majority owned. Bitcoin Cash was issued in by Block original Bitcoin's blockchain. Disclosure Please note that our of Bitcoin Cash as acookiesand do not sell my personal information.
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Cloudscape was very pleased to have joined New Reliable Press last Saturday to launch our new comic book anthology, Funday Sunnies, alongside New Reliables’ two new books.
The event was well attended and many of Vancouver’s local greats were on hand.
Thanks to those who came! And thanks to Gabe at Lucky’s comics for letting us use the space, and Ed Brisson at New Reliable for all his help.
You can get your copy today at the online store, or at Lucky’s Comics.
Expect to see Funday Sunnies cropping up on bookshelves near you!


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1100 13th Street, NW, Suite 750Washington, DC 20005202.887.6400Toll-free: 800.544.0155
All Contents © 2018The Kiplinger Washington Editors
You may not appreciate it. You may not have even noticed it. But small-cap stocks have led the way since the market came out of the subprime slump in 2009.
That lead has widened considerably...
When shopping for investments, you want to choose from the best options possible, but behind-the-scenes deals could be limiting your choices and driving up your costs.
Warren Buffett, chairman and CEO of Berkshire Hathaway (BRK.B, $216.03), took a few more bites of Apple...
More Investing News »


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Delta, United Are Latest Companies To Cut Ties With NRASupport continues to dwindle for the National Rifle Association following the deadly school shooting in Parkland, Florida.
Companies Cut Ties With The NRAA cybersecurity firm, four car rental brands, a home security company, and a bank have cut ties with the National Rifle Association.
Tips To Increase Your Holiday Cyber-Shopping SecurityA few wrong computer clicks could land you in trouble this holiday shopping season.
Home Depot CEO: Probe Of Possible Breach Continues Home Depot's CEO Frank Blake spoke out Thursday in his first public comments about the possible breach.
Growing Problem Of Tech Support ScamsVirtually everyone has had some sort of problem with his or her computer that prompted a call to tech support. But that call could cost you due to the latest cyber scam sweeping the Internet – phony tech support sites.
Mobile Banking Apps: Convenient Or Costly?Mobile banking may be the most convenient way to keep track of your money, but are you putting your personal information at risk every time you log in?
Social Media Users Being Warned Of New Online ScamsIt is the time of year for holiday cheer and holiday scams. This year, social media sites are the prime target for the "bad guys." CBS4's Jorge Estevez shows you some of the tricks hackers use and how to guard against being duped.


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Fresh from his contractually obligated four-years of apprenticeship under Jeff Bezos, Quidsi co-founder Marc Lore is back on the e-commerce scene with a mysterious new startup—and $55 million in venture capital.
Mr. Lore sold Quidsi, a collection of e-commerce sites most known for its Diapers.com vertical, to Amazon in 2010 for a reported sum of $545 million. Since the sale, he and his partners—one of whom was Vinit Bharara, brother of United States Attorney Preet Bharara—have been running Quidsi under the Amazon banner seeing how the e-commerce juggernaut works from behind the curtain.
That mix of experience is apparently catnip to investors. After some speculative reporting on various tech news sites, Mr. Lore took to his own blog Wednesday morning and confirmed that he has indeed pulled in $55 million in Series A funding for an e-commerce startup that he has named Jet.com.
"I’m happy to confirm that we’ve raised a $55 million Series A round of funding led by New Enterprise Associates with participation from Accel Partners, Bain Capital Ventures and MentorTech Ventures," Mr. Lore wrote. "While it is too early to delve into the specifics of the business we are building, I wanted to share my excitement for this new venture."
While he disclosed little in terms of what users can expect from Jet, a few things are certain about the new startup. The company will be based out of Hoboken, N.J., where Mr. Lore operated Quidsi. It also appears that while Mr. Lore will be joined by some of his former Quidsi co-founders, Mr. Bharara will not be among them.
The startup’s website offers only a well-designed scroll-down selection of furtive statements involving the word Jet. And in his blog post, Mr. Lore was careful to keep the veil of mystery draped across the e-commerce company.
"At Jet we will make use of the latest advancements in technology to create a new shopping experience that will empower customers like never before," he wrote. "Jet will bring unprecedented transparency and efficiencies to the overall e-commerce market, and as a result, will transform the customer experience in a way that, until now, has not been possible."


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Welcome to Thomas Insights — every day, we publish the latest news and analysis to keep our readers up to date on what’s happening in industry. Sign up here to get the day’s top stories delivered straight to your inbox.
Recently, Amazon’s Prime Day – a 36-hour extravaganza of super deals for Amazon Prime members – allegedly made history. The e-tailer says it sold 100 million products throughout the 2018 flash sale, making it the biggest “shopping event” in Amazon’s history.
But would Amazon take the rest of the week off and just go kick back in its new 30% off hammock?
Oh no – not now. Not ever. Because Amazon had work to do – namely, collaborating with Hyundai in launching a first-of-its-kind digital showroom on the website.
The digital showroom is Hyundai’s attempt to take some pain out of the dealership experience, and its hosted within Amazon’s Vehicles portal – a site component launched in 2016 that allowed users the ability to compare makes and models and read reviews easily.
The company’s director of automotive said the site was intended to “support customers during one of the most important, research-intensive purchases in their lives by helping them make informed decisions every step of the way” and we totally believe that Amazon is just trying to help. Or, Amazon Vehicles is just the starting point for something much bigger: online car sales.
Now, back to Hyundai: the company’s Amazon digital showroom offers users more than just information. It kicks off the car buying process, allowing users to schedule test drives and check inventories at local dealerships. The company says it wants to modernize the car-buying process which, in turn, means fewer face-to-face and more digital components.
Many have speculated as to how Amazon’s Vehicles offering will play out, and Auto Week says it's only a matter of time before the online retailer is actually selling vehicles. Last year, the company launched a trial in Italy where it sold three different Fiat models in four optional packages, available to be picked up at a dealership within two weeks of clicking “buy now.”


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Posts Tagged staff holiday planner
Dinamiks Ltd announces Dinamiks HR Absence Management, a cloud-based tool that can also be used for human resource planning, improving employee performance – and presenteeism
Posted by Internet Business Press in Dinamiks on November 18, 2015
– Optionally links to the company’s employee performance management solution, Dinamiks Lite –
November 18th 2015. Chichester. Dinamiks Ltd has announced the cloud based Dinamiks HR Absence Management, designed for use with all kinds of absence – holidays/leave, sickness, training and compassionate leave included. Priced at £1 per employee per month, it’s unique among staff leave planners because it can be linked with the company’s employee performance management solution, Dinamiks Lite.
The tool simplifies staffing processes and can also be deployed for human resource planning, enabling the user organisation to plug resource gaps caused by absence in order to meet business needs and customer demands. The optional integration with Dinamiks Lite allows absence to be measured against performance and a picture to be built up over time of an individual’s or team’s performance.
“Likewise, patterns of sick leave can be compared to performance over the same time scale, enabling the employer to take action, within the boundaries of employment legislation, where it sees fit,” says Dinamiks Ltd Managing Director Simon Barnes. “The action can be counselling, training, giving warnings and improving performance.”
Other capabilities of Dinamiks HR Absence Management, which costs £1 per employee per month, include tracking absence entitlements and flexible working arrangements, and providing better organised absence records.
“Because of what it can do, including the linkage to Dinamiks Lite’s capabilities, it’s an all-encompassing package for busy SMEs and HR departments,” says Barnes.
Highly customisable within an easy-to-use environment, Dinamiks HR Absence Management can also be used for managing presenteeism, the catch-all description for employees working while sick. “Considered by some to be the opposite of absenteeism, presenteeism – and its positive, negative or neutral effect on an individual’s performance – can be tracked, analysed and managed as effectively as absenteeism,” says Barnes.
A free trial of Dinamiks HR Absence Management is available via http://dinamiks.com/HRTrial.aspx
About Dinamiks Ltd
Founded in 2010, Chichester-based Dinamiks Ltd is the developer of Dinamiks Lite, a cloud based employee performance measurement tool that is used across industry sectors in the UK and abroad. The company is expanding its operations and developing Dinamiks HR, a suite of HR solutions. Dinamiks HR Absence Management is one of those solutions.
More at dinamiks.com or email firstname.lastname@example.org
Note to the press. For more information please contact:
Shirley Barnes, Client Relationship Director, Dinamiks Ltd
Tel (+44) (0)1243 538835 email@example.com
Or Paul Whitehead, Western Associates PR
Tel (+44) (0)1403 711177 firstname.lastname@example.org
Acclaimed staff leave planner WhosOff.com announced as National Business Awards finalist
Posted by Internet Business Press in WhosOff.com on August 30, 2012
August 30th 2012. Canterbury, Kent, UK. WhosOff.com – the online staff leave planner used by more than 800 companies across the UK and around the world – has been shortlisted for the Small Online Business of Year Award at this year’s National Business Awards in partnership with Orange.
WhosOff.com generates revenue via a subscription model and counts SMEs and some of the biggest British and global brand names among its customers.
The winners of the awards will be revealed at the National Business Awards gala dinner on 13th November 2012 in London, where WhosOff.com will rub shoulders with companies from across the range of award categories, including National Grid, Marks and Spencer and London Early Years Foundation.
David Keene, Vice President Marketing, Salesforce, and a National Business Awards judge, said WhosOff.com was shortlisted because it submitted “a great user case study for a web app in a cloud computing model, and the developer has an innovative eye for making the app available on mobile devices.”
Philip Cross, co-founder of WhosOff.com, said, “We are really proud to be a finalist in the National Business Awards 2012 in partnership with Orange, and it’s a reflection of all the hard work by the WhosOff.com team that we have got there.”
The National Business Awards has revealed that more than 150 of Britain’s leading businesses and business leaders are finalists in its awards programme.
Collectively, all finalists represent an annual turnover in excess of £135 billion and employ more than 700,000 staff. The National Business Awards supports Help for Heroes, a charity that offers support and advice for wounded soldiers. More at nationalbusinessawards.co.uk
Founded in Canterbury, Kent, in 2006, WhosOff.com offers a free, two month trial period of its full service, to enable users to fully evaluate it. The app is currently used by more than 800 companies globally – 600 in the UK alone. Users include small businesses of four staff up to blue chip global companies with thousands of staff. WhosOff is a registered trademark in the UK and US.
Note to the media:
For more information please contact:
Philip Cross, WhosOff.com
email@example.com +44 (0) 1227 764806 or visit http://www.whosoff.com
Or Paul Whitehead, Western Associates PR
firstname.lastname@example.org (+44 (0)1403 711177


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"As regards FDI policy in multi-brand retail trading, no decision has been taken by the government," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.
Although the current foreign investment policy permits 51 per cent FDI in multi-brand retail, the BJP government is not supportive of bringing any foreign investment in this sector.
To a specific query, she said the Project Monitoring Group has set up an online digital platform (e-Nivesh) through which it proposes to monitor the processing of 88 different types of clearances and approvals granted by various central government ministries and departments.
"Out of the 88 clearances, 80 have been digitised, and 4 in respect of the Ministry of Defence and the Ministry of Home are not proposed to be digitised due to security reasons," she said.
Digitisation of the remaining four is nearing completion, she added.
US-based e-commerce giant said the EA award of Singapore International Arbitration Centre (SIAC) was enforceable and the single-judge bench of the Delhi High Court rightly gave an interim order in its favour granting a stay on the ongoing amalgamation.


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Date Bike, a Vietnamese startup with the ambition to become the top electric motorbike company in Southeast Asia, has raised $ 2.6 million in pre-Series A funding led by Jungle Ventures. Manufactured in Vietnam with most domestic parts, the selling point of the stopper bike is its ability to compete with gas motorbikes in terms of pricing and performance. Its new funding marks the first time Jungle Ventures has invested in the mobility sector and includes the participation of Wavemaker Partners, Hustle Fund and Eyeside Ventures.
Founder and CEO Son Nguyen began learning how to make bikes from scrap parts while working as a software engineer in Silicon Valley. In 2018, he moved back to Vietnam and launched Dat Bike. More than 80% of households in Indonesia, Malaysia, Thailand and Vietnam own two-wheelers, but most are filled with gas. Nguyen told ClearTips that many people want to switch to electric motorbikes, but one major hurdle is performance.
Nguyen said the date bike offers three times the performance (5 kW vs 1.5 kW) and 2 times the range (100 km vs 50 km) at the same price point as most electric motorbikes in the market. The company’s flagship motorbike, called the Weaver, was built to compete against gas motorbikes. It seats two, which Nguyen mentions is an important selling point in Southeast Asian countries, and has a 5000W motor that accelerates from 0 to 50 kmph in three seconds. The Weaver can be fully charged in about three hours at a standard electric outlet, and can reach 100 km on one charge (the next trip of a motorbike will go up to 200 km on one charge).
Dat Bike opened its first physical store in Ho Chi Minh City last December. Nguyen said the company has “shipped a few hundred motorbikes so far and still has a backlog of orders.” He said it saw a 35% month-on-month increase in new orders after the opening of the Ho Chi Minh City store.
At 39.9 million dong, or about $ 1,700 USD, the Weaver price is also equal to the average price of gas motorbikes. Dot Bike partners with banks and financial institutions offered consumers twelve-month payment plans at no interest.
“These people are competing with each other to bring Vietnam’s emerging middle class into the digital financial market for the first time and as a result we are getting very favorable rates,” he said.
While Vietnam’s government has not yet implemented subsidies for electric motorbikes, the Ministry of Transport has proposed new rules mandating electric infrastructure at parking and bike stations, which Nguyen said will increase the adoption of electric vehicles. Other Vietnamese companies producing electric two-wheel vehicles include Winfast and Pega.
One of the advantages of the stopper bike is that its bike is developed at home, with locally sourced parts. Nguyen said the benefits of manufacturing in Vietnam include streamlined logistics and a more efficient supply chain rather than sourcing from China and other countries, as most stop bike suppliers are also domestic.
Nguyen said, “There are also huge benefits to the tax for being local, as the import tax is 45% for bikes and 15% to 30% for bike parts.” “Trade within Southeast Asia however is tariff-free, meaning we have a competitive advantage in expanding the region, compared to foreign imported bikes.”
Date Bike plans to expand its supply chain in Southeast Asia over the next two to three years, with the help of investors such as Jungle Ventures.
In a statement, Jungle Ventures founder Amit Anand said, “The $ 25 billion two-wheeler industry is ripe for the benefit of new developments in electric vehicles and automation, particularly in Southeast Asia. We believe that the Dot Bike will lead this charge and create a new benchmark for the next generation of two-wheeler electric vehicles, not just in the region, and will perform as such. “


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may be the all the positive reviews have built up my expectation towards the new ipad, to be honest, i didn't 'wow' at all after using it for 10-20mins. It didn't give me the 'wow' factor compared to first gen Ipad.
Having said that, I think apple has set the standard very high with previous ipads. It will always be difficult to make it more magical
Posted this in another thread, doesn't apply exactly to Giz as they ultimately make money from the rumour mill, but it certainly applies to people who think its not much of an update.
Can someone give some examples of massive feature bumps in a year on year upgrade cycle on any consumer product? Seems to me the people who are most disatisfied are either those who upgrade every year, so won't see a massive shift practically ever, or those who naively get sucked into the rumour mill and believe all the clearly preposterous hype that know nothing "analysts" speak. I'd suggest these people, instead of believing such things, look at history and think rationally what we're going to get in a new product.
I think the issue is that as journalists (and I'm using that term VERY loosely), they get access to information before anyone. Even stuff that doesn't get published. On top of that, the rumor mill on Apple news, which used to be notoriously bad, has gotten much better. So they're getting much more real information than before, mixed with pie-in-the-sky rumors, and when the actual announcements are made, it's already a case of been-there, done-that.
Look at the iPad 3. Every feature that was announced was accurately reported before hand (sometimes MONTHS before hand), except for the name. It was old hat even before it got into their hands. Of course you'd be jaded.
The media has had this attitude with Apple in the last couple of years ... if it's not a massive departure from what's already out there, it's a failure. Yes, in YOUR eyes, because it's your job to break the news, and incremental changes aren't sexy. Yet every Apple product sells better than the last. The marketplace sees the true value that the media doesn't. This gap is ever-widening. Until Apple stuns everyone with a brand-new product that no one was expecting, the media will not be impressed. The only way to impress the media is to break your own news, basically keeping the media from doing their jobs, and that's tricky.


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Renault to restructure for efficiency across the alliance
After alliance partner Nissan, Renault has also presented its restructuring program. The savings plan provides for the elimination of two billion euros in fixed costs. The strategy includes cuts in personnel.Weiterlesen
Renault Group to focus on electric cars in China
Renault has adjusted its strategy for China and will in future concentrate fully on electric vehicles and light commercial vehicles. This includes the French company withdrawing from its joint venture with Dongfeng through which they had built conventional ICEs and transferring its shares in DRAC to Dongfeng.Weiterlesen
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Coperion technology for continuous production of battery materials: Reliable process technology solutions that secure a consistently high product quality: The ZSK twin screw extruders from Coperion and gravimetric feeders from Coperion K-Tron are specifically designed for toxic and hard-to-handle materials in continuous production processes. www.coperion.com/battery-materials
Egypt turns to China to build electric vehicle sector
Electric buses and electric cars are to be produced in Egypt in the future. The Egyptian government has now reportedly reached agreements with Foton and Geely respectively.Weiterlesen
Renault hits on China with ultra-low price electric car
After Renault presented the series version of its small electric car City K-ZE at Auto Shanghai in April, the market launch in China followed suit and with a drumroll. Renault set a base price of 61,800 yuan, and currently, that converts to just under 7,900 euros.Weiterlesen
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Blitz cooperation: Opel PEVs through PSA & Dongfeng
Affordable prices through economies of scale – this is what Opel wants to achieve in cooperation with PSA and Dongfeng through new platforms for electric cars and plug-in hybrids. Unlike the VW Group’s MEB, the trio wants to remain flexible. Christoph M. Schwarzer takes a close look at the strategy.Weiterlesen
Dongfeng-Nissan first to bring an e-pickup to market
The Dongfeng-Nissan joint venture is launching a fully electric pickup truck onto the Chinese market this month. The new model is part of the two companies’ strategy to bring more than 20 new electric models to China by 2022.Weiterlesen
Peugeot introduces the e-2008 compact electric SUV
French car manufacturer PSA is pushing ahead with electrification: Peugeot is now presenting the new 2008 and its all-electric variant, the e-2008. The market launch is planned for the end of the year.Weiterlesen
Market launch for electric DS 3 and DS 7 Crossback
The PSA subsidiary DS Automobiles is now accepting orders for the all-electric compact SUV DS 3 Crossback E-Tense and the larger electric SUV DS 7 Crossback E-Tense 4×4 with plug-in hybrid drive. So far, prices have only been announced for a few countries.Weiterlesen
Honda producing next BEV for China
Honda plans to develop more than 20 electrified vehicle models for the Chinese market by 2025. Following the previously introduced battery-electric VE-1, this year another BEV designed with car-sharing services in mind will follow. Further details have not been announced yet.Weiterlesen
Renault shows off new SUV for China and announces three hybrids
The Paris Motor Show saw Renault present their Showcar K-ZE, which is a prototype for the announced City SUV models, which will be released in China next year. Furthermore, the automobile manufacturer has announced additional PHEV and HEV versions of current vehicle models.Weiterlesen
Nissan to boost China production by 30%
Nissan has earmarked $900M for increasing their production capacity in China. They plan a new factory in Wuhan together with JV partner Dongfeng. Also existing facilities are to be expanded. Nissan is looking to grow their China business by 30%, including new energy vehicles.Weiterlesen
China carmakers to set up state-owned ride-sharing
China’s state-owned car manufacturers FAW, Dongfeng and Changan have set up ride-hailing service T3 Mobile Travel Services in order to rival the almighty Didi Chuxing. The platform builds on their existing EV alliance and is to deploy self-driving robo cabs.Weiterlesen
Battery production by CATL & Dongfeng JV kicks off
Construction of a battery factory owned by both CATL and Dongfeng is complete. The facility of Dongfeng Amperex started production in Wuhan. Here they aim to reach a capacity of 9.6 GWh worth of batteries on three manufacturing lines from 2019.Weiterlesen
Nissan Sylphy electric car available to order in China
Nissan’s Sylphy Zero Emission is now available to order in China. First presented in Beijing this Spring, the EV Nissan built with Dongfeng owes much to the Leaf but is longer and has a range of 338 km. Prices start at 22,000 euros after incentives.Weiterlesen
Nissan’s first EV for China – Sylphy Zero Emission
Nissan has come prepared to the Auto China with the Sylphy Zero Emission on display. It is the carmaker’s first dedicated EV for the Chinese market and one of a total of 20 electrified models Nissan wants to launch over the next 5 years.Weiterlesen
Nissan & Dongfeng confirm their China EV
Partners Nissan an Dongfeng presented their electric car model for the Chinese market. It will come in the form of an existing model from Nissan. Together they want to woe buyers in the People’s Republic as they seek to offer the EV under all labels.Weiterlesen
500 H2 trucks by Dongfeng powered by Ballard fuel cells
Licensed, plated and deployed with fuel cell stacks by Ballard – 500 hydrogen trucks built by Dongfeng have hit the road in Shanghai. Each electric truck has a range of over 330 km. Operated by a new fuel cell EV operator, the fleet will be used for city deliveries mainly.Weiterlesen
Nissan to invest €7.6BN in China to get ahead in EV segment
Nissan wants to become China’s largest electric vehicle maker and plans to spend 7.6 billion euros (9bn dollars) over the next 5 years. More than 20 electrified models have been lined up for the Nissan, Venucia and Dongfeng labels.Weiterlesen
PSA, Dongfeng, Lilium, Panasonic, Siemens, Local Motors.
Shared EV platform: PSA and Dongfeng officially agreed to jointly build a platform for electric cars. The e-CMP, based on the common modular platform, will be the base for compact and subcompact electric cars for the Peugeot, Citroen, DS, and Dongfeng brands.
Electric VTOL: ESA is backing Lilium, a Munich-based start-up intending to launch an electric jet by 2018. The two-seater shall start and land vertically, while flying at speeds of up to 400 kph. In cruising mode, range is given at 500 km and batteries are said to charge via a household socket.
siliconrepublic.com, inverse.com, esa.int
Panasonic increased its investment in the Tesla Gigafactory by 35 percent this last quarter. With 64m dollars, the Japanese paid more in Q1 2016, than they have since the start of the project. It is a good indicator that production of battery cells is about to start very soon.
3D car printing: Siemens partners with Local Motors to advance large scale 3D printing of cars. Siemens’ Product Lifecycle Management (PLM) software, which creates digital twins, will be combined with Local Motors’ experience in a process called Direct Digital Manufacturing (DDM).
Porsche, Nissan, PSA, Dongfeng, Morgan.
Porsche confirms 911 PHEV: Work has begun on a plug-in hybrid version of the iconic Porsche, says Erhard Mössle, the 911 Turbo’s engineering boss, confirming earlier hints. The 911 PHEV will keep its V6 settings. Finding room for the battery and reducing the weight of the car are the main challenges that lay ahead. Which is why the hybrid variant will only be available with the next generation due by 2020.
Nissan battery facility: The Japanese carmaker pours another 26.5m pounds (about 38m USD) into its British Sunderland facility to modernise its battery assembly plant for the Leaf and e-NV200. 9.7m GBP come from the UK Advanced Propulsion Centre in an attempt to make the site the biggest in Europe. Partners include Warwick and Newcastle University, as well as Zero Carbon Futures.
autocar.co.uk, autoevolution.com, insideevs.com, electriccarsreport.com
Top down principle: Peugeot, Citroen, and newly emancipated DS will share technology. Some will be developed together, some will be handed down and some will remains specific to one brand. DS will lead PSA’s efforts in electrification and plug-in hybrid advances, passing on technological know-how.
First Dongfeng EV: The Chinese carmaker plans to introduce seven new models this year in an attempt to boost its sales by 30 percent. One electric vehicle is included in the line-up – the Joyear S50.
Morgan update: Following the British sports car maker’s announcement about the development of hybrid and electric engines, it now says that it plans to include the technology in all models starting from 2019.


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To boost electronic manufacturing in the country, the government will come out with more policy guidelines if required, Telecom Minister Ravi Shankar Prasad said on Thursday.
"We came with all the policies like MSIPS, differential duty structure, ease of doing business... The entire ecosystem for electronic manufacturing was to be created... If further more is needed, we are quite open to come with new policy guidelines," Prasad said while launching Make in India phones by electronics major LG in New Delhi.
The government is working to make India a big hub of electronics manufacturing and is providing various incentives to companies to set up their shop in India. Demand for electronic products in India is expected to reach $400 billion (roughly Rs. 26,64,400 crores) by 2020.
The Minister said in one year down the line, he sees LG manufacturing latest smartphones in India. "I would expect, this is just a beginning and I am deeply impressed that they will make 1 million smartphones at this facility which they have started," Prasad said.
The Minister added that the government is involved in some transformational programmes like Digital India, Make in India, Skill India, Startup India, Standup India and smart cities that will change the country.
Speaking on the occasion, Telecom Secretary J S Deepak said India is the best place to manufacture phones and electronics in the world and in a couple of years, the production of phones is likely to reach 500 million phones a year.


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As the Islamic festival of Ramadan comes to a close, British Muslims are looking forward to Eid al-Fitr, which starts next Monday (28 July) and is a time to feast after a month of fasting.
However, brands and businesses are less than adept at reaching this audience, according to a study by creative agency Haygarth. It shows that 30 per cent of Asian or British Asian respondents plan to shop for Ramadan and Eid.
Although large supermarket chains often tailor their food lines around ethnic communities living in the catchment areas of their stores, Anthony Donaldson, planning director at Haygarth, believes that UK-based brands are failing to capitalise on these specific occasions.
“Brands are missing out,” he says. “Ramadan is a fasting occasion but it’s also a period when lots of food is consumed after the sun goes down.
“Food and feasting play a major part in this long, religious celebration, yet I don’t know any food brand that has thought creatively about how it might link with the occasion.”
The study claims that the retail calendar is becoming increasingly complex as a result of changing demographics, cultural trends and new marketing techniques.
It suggests that some brands have neglected national occasions such as St George’s Day, for which 11 per cent of UK consumers plan to spend money in the coming year, or failed to recognise the opportunities around events such as Halloween (36 per cent). Twenty-six per cent of Asian or British Asians plan to shop for the Hindu festival of Diwali, which falls on 23 October this year.
“A significant proportion of consumers want brands to inspire them to shop in different ways, so it’s up to brands to push themselves to think creatively about how they can tap into some of these events,” says Donaldson.
The survey asks 1,000 UK adults whether they plan to shop for different occasions over the coming year, ranging from major events such as Christmas to bank holidays, sporting events and religious festivals.
It shows that after Christmas (83 per cent), Mother’s Day is the next most popular event among shoppers, with 54 per cent of people saying they plan to shop for the event next year. This is followed by Easter (51 per cent), Valentine’s Day (45 per cent) and Father’s Day (44 per cent).
According to Donaldson, the high scores for Mother’s Day and Father’s Day highlight opportunities for brands to target consumers with offers that extend beyond the traditional gifts bought for these occasions. He suggests that brands should seek to engage with consumers in imaginative ways, particularly given the emotional impact of both events.
“The days of giving a bunch of flowers or a ‘World’s Greatest Dad’ mug are long gone,” says Donaldson. “Consumers are increasingly looking to have unique and personal experiences that go beyond simple gifting.”
The study cites the example of liqueur brand Baileys, which placed a sponsored post for Mother’s Day on the Mumsnet forum asking women to talk about the most important lessons they had learned from their mothers.
The post generated more than 200 responses, some of which provided user-generated content for the brand’s social media marketing around the event. Baileys also offered Mumsnet users the chance to win prizes for Mother’s Day.
The research also identifies less notable events that present opportunities for brands. These include Shrove Tuesday, popularly known as Pancake Day, for which 43 per cent of people say they are planning to shop next year. This is followed by a series of national days including St George’s Day (11 per cent), St Patrick’s Day (10 per cent) and Chinese New Year (7 per cent).
Donaldson notes that a large number of food and drink brands can draw on their provenance in order to increase their visibility around these dates, while retailers can target their promotions to reach people of particular nationalities who are likely to celebrate such occasions.
In addition to traditional events and celebrations, the research identifies new dates in the retail calendar that have emerged as a result of ecommerce. It includes Black Friday – the Friday after Thanksgiving that is regarded by many in the US as the start of the Christmas shopping season, and Cyber Monday – another US import – which is often the first Monday in December.
Brands typically discount heavily on these days, encouraging a significant proportion of shoppers to go online or into stores in search of deals. According to the Haygarth research, 7 per cent of UK shoppers plan to make a purchase on one of these dates.
Sarah Calcott, senior marketing director at eBay, believes that last year’s ‘Cyber Weekend’ was by far the biggest ever for the auction website in the UK. “I would say that it was a tipping point for the idea in the minds of the British public,” she adds.
Calcott reveals that eBay develops its marketing strategy for the Christmas period by seeking to mirror the consumer psyche. “We know they start with a more engaged browsing mindset and are looking for products to inspire and delight,” she says.
“As we move closer to Christmas we know that customers move to a more specific gift-purchasing mindset. Our campaigns reflect this shift, beginning with a more inspirational approach and moving on to foregrounding more of our great deals and value-led promotions during the later stages of peak trading.”
Some events or trading periods are more specific to particular brands. The annual summer blockbuster season, for example, presents an opportunity for brands that have an association to cinema or cinema-going.
This is true for food company Metcalfe’s, which this month launched its biggest ever advertising campaign for its healthy popcorn brand skinny Topcorn. The £1m campaign is running across primetime TV spots, pop-up cinema screenings, gym TV, video-on-demand and social media both this month and again in November. This approach is designed to increase the brand’s visibility at different points in the year, including when cinema attendance is typically higher.
“As this was our first TV campaign, we were keen to make maximum impact, which is why we have structured the campaign around sharp bursts of activity,” explains Natalie Sugarman, head of marketing for Metcalfe’s Food Company.
“By splitting the campaign into two bursts we are able to create a stronger presence in the market through increased television viewer ratings.”
Sarah Calcott, Senior marketing director, eBay
We do navigate towards big consumer moments of celebration such as Mother’s Day, Valentine’s, Father’s Day and Halloween. Our strength is our unparalleled selection – more than 650 million products – helping customers to find a unique item that expresses their personality and brings the moment of celebration to life.
Bank holidays are key dates for eBay too as we know this is a time when our customers enjoy browsing and shopping. We tend to focus on promotional activity to help drive conversion.
It’s not only around specific dates as there are also seasons or broader moments that resonate with our customers, for example practical shopping occasions such as buying your summer holiday essentials or back to school.
Natalie Sugarman, Head of marketing, Metcalfe’s Food Company
We decided to launch our new TV campaign in July, mainly to maximise brand awareness in the height of summer when health and wellness is front of mind for most consumers. There is also the summer cinema screenings to consider, which is why we have supported our campaign with gym TV and 150 pop-up cinema screenings.
Aside from this campaign, generally our strategy is to keep a consistent brand awareness through the year as much as possible because, ultimately, healthier snacking is relevant and right at all times throughout the calendar year. However, there are times of the year when healthier snacking is in the spotlight such as the summer and January, which we support in our marketing too.
Creative agency Haygarth surveyed 1,000 UK adults using the online survey tool Toluna. Participants were given a list of events over the course of the year, from sporting events to public holidays and religious festivals and were asked for which events they specifically planned to shop or make a purchase. The majority of respondents were the main shopper in the household and responsible for purchase decisions.


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Small businesses are getting sick of Google charging big sums for access to its popular Maps product. If you just like to use Google Maps to find out how to get to the closest steakhouse, you don't have to pay to use the product. But your local steakhouse probably embeds a map on their website, and if it they have a popular website, they'll have to pay. Location data evangelist James Fee told The New York Times that the pay-to-play set-up, which kicked in last October, "will touch 30 or 40 percent of people who really depend on maps for their business. It could cost [business owners] tens of thousands of dollars a month." ComScore numbers show that Google Maps accounted for 71 percent of all online map usage in the month of February. The number two site, AOL's MapQuest, has less than half of that user base.
While less well known, there are alternatives, with some companies depending on users not only to look at the maps but also to help draw and maintain them. Here are three ways to get around without Google Maps.
This Israeli startup builds maps geared towards drivers. Waze is part interactive map, part Twitter-like stream, offering up open-source maps for the entire world that depend on its 45,000 map editors to draw the maps and 5,000 "regional managers" to make sure they're correct. The 14 million drivers that use Waze around the world can add updates anytime, and they'll flow through a stream of alerts that includes everything from traffic jams to police sightings. While the maps do work on the Web, the real utility is in the mobile apps, and Waze offers an app for almost any platform including iPhone, Android, and Windows Phone.


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Since February, a number of ne’er-do-well Apex Legends and Counter-Strike: Global Offensive players hoping to download cheats have in fact been infecting their computers with credential-stealing malware, security firm Sophos discovered.
First-person shooter fans hoping to get an edge over their opponents had their personal and financial information siphoned off and sold for months, according to a Sophos report published last week. The malware, named Baldr by its creator, efficiently extracted sensitive data from infected users: credit card information; login credentials for shopping services like Amazon and Paypal; credentials for Battle.net, Steam and Epic Game; or identity information. Its job, Sophos says, was “scrape and steal any credentials, cookies, or cached data of resellable value in a matter of seconds.” Baldr was buried inside of a bunch of cheats with names like “CSGO Aimbot+Wallhack” and “Apex Legends New Cheat 0.2.1,” the security firm researcher said.
Once they had acquired the data, Baldr operators could sell it on darkweb marketplaces. “What caught our eye was Baldr’s ability to quickly steal identities and seamlessly exfiltrate victims’ credentials. Baldr was incredibly effective at bursting in, grabbing everything and rushing out again,” said Sophos threat researcher Albert Zsigovits over e-mail.
Zsigovits says he’s been tracking 500 to 600 instances of the malware internationally, with the majority of cases located in Indonesia, Brazil, Russia and the United States. Advertisements for the malware-infected cheating software appeared primarily on YouTube in video descriptions advertising the cheats. Its proponents also advertised it in Twitch chats and on Discord servers.
The malware’s popularity peaked around May. But although it’s not getting sold as much on dark web forums, Zsigovits said, it “continues to wreak havoc. The cybercriminals who bought Baldr before it disappeared can still use the malware, and they are.”


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Guarding Yourself and Fiscal Position from Coronavirus
A 5 working day craze for globally inventory market place plunges in response to the menace of the Coronavirus triggered a fall of one,000 details on the New York Stock Exchange’s on the information of new instances of the virus becoming found in Iran and Italy. At present, the virus has been noted in China, Japan, Italy, Iran, the U.S., Canada, Australia, Egypt, and some of the states in the Persian Gulf. Significant quarantine measures in China reportedly led to the reopening of some factories in China, but popular closings of colleges, factories, sporting, and political activities in China are nevertheless common.
Variables noted from dependable resources from the CDC in the United States have identified some of the important characteristics of the virus.
A. It is of the coronavirus family similar to the devastating flu epidemic of 1918.
B. It is unfold by respiratory droplets carried in the air.
C. Non-symptomatic individuals can distribute the condition.
D. The incubation period of the virus can be on the get of seven-fourteen times from publicity to presentation of signs.
E. The loss of life fee from the virus is on the purchase of two Per cent in nations around the world obtaining sophisticated overall health-care systems.
F. Those who are especially prone to die from the condition are people who are aged, extremely youthful, or already have respiratory troubles.
G. Numerous exposures appear to increase the severity of the attack and possibility of loss of life.
H. There is no effective vaccine at the instant, despite the fact that 1 may possibly be available in about a year. Then, the dilemma gets to be one particular of globe-vast and universal vaccination which could just take 3 years.
Predicted Enlargement of the Illness
Like the 1918 flu epidemic, the virus which is previously been discovered in Iran can be anticipated to distribute into Iraq and from there into Syria, Turkey, the Middle East and Into Europe. Particularly inclined will be the huge refuge populations who are previously residing in desperate, crowded conditions in refugee camps or are homeless in Syria, Turkey, and Jordan. Once the virus enters this populace which is mobile, determined, and has a deep suspicion of authority, it will be really challenging to stop the spread of the condition during Europe, Africa, and the remainder of the planet. This would be real even in peacetime, and the predicament is aggravated by on-going conflicts. If there was at any time a need for instantaneous and regional peace avoiding the distribute of this virus is it. In the long run it will get to even the most distant villages of the Australian bush, Arctic, and Tropical villages of the globe – just as did the flu epidemic of 1918 which caused fatalities even in significantly-off Alaska.
Contemporary just-in-time deliveries have been integrated into product organizing to the extent that if a manufacturing unit fails to generate, or cannot ship, items from say, China, an additional manufacturing facility in the U.S. are not able to create the products that it makes. Though diversification of supply chains has constantly been acknowledged as a attractive attribute for any business’ good results, the included fees of sustaining a number of source chains have frequently brought on them by no means to be developed, or dropped as a value-financial savings evaluate in a competitive company climate. Not only does this utilize to tough products, it also applies to labor the place components could cross international borders numerous moments ahead of the finished merchandise comes on the showroom ground or in the grocery store. A one supplier’s closure can multiply into a number of companies in the U.S. shutting down because a failure to offer a one essential component. These shutdowns can cascade as staff are laid off and retail trade and leisure pursuits begins to experience not only from decline of buyers, but also from deficiency of merchandise on the shelves. This was when thought of as being a dilemma restricted to planned economies, but could now turn into accurate in capitalistic societies as effectively.
Personal Overall health
As considerable as economics might be, one’s personal health is more crucial. The ideal, least difficult, minimum expensive, and universally available preventative measure that can be taken is to boost one’s cardiovascular and brain wellness with normal exercise. If you have an workout machine accumulating dust in your residence somewhere it is time to get it out and use it. https://halesglobal.com/ is also prudent to keep away from polluted air and occupations that expose your lungs to particulate resources. Also to be prevented are crowds, this kind of as might assemble at sporting activities events, conventions, political rallies, and leisure venues.


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I’ve heard of some crazy promotions, including Chipotle urging customers to dress up like a burrito.
But this one takes the cake. AND the ice cream.
Dairy Queen sent out a press release today that promised a free Reindeer Bites Blizzard to anyone who brings a real, live reindeer to a local Dairy Queen from 1 to 3 p.m. on Christmas Eve.
I’m guessing the general public has limited access to real, live reindeer, which makes this promotion a guaranteed winner. But I say that if anyone actually shows up with one, they deserve free blizzards for A YEAR. Or life.


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Albury supermarket owner Bob Mathews says he won't ask staff and customers at his IGA stores to wear face masks at this stage.
It follows supermarket giant Woolworths announcement on Friday that face coverings will be strongly encouraged in NSW stores as of Monday.
The COVID-19 safety measure has not been deemed mandatory for towns north of the border, unlike their Victorian neighbours.
Mr Mathews said he's happy for staff and customers to make their own decision regarding masks when entering his East Albury, Springdale Heights and Lockhart stores.
"In our environment at the moment we don't think it's necessary, but we'd never discourage anyone," Mr Mathews said.
IN OTHER NEWS:
"If they want to wear a mask they can, if they don't, that's fine as well.
"We're doing everything we possibly can to keep our place as safe as possible with protective screens and sanitisation."
Mr Mathews added that face masks could also be purchased from his stores, with the coverings currently in high demand for residents south of the border.
"The masks are a two-fold thing," he said.
"If the person is ill that protects us and if they're afraid of someone giving them the virus that's smart for them as well.
"We'll follow what the government says.
"When they say masks, we'll go with the masks."
The announcement from Woolworths also applies to stores Big W, BWS and Dan Murphy's.
While the measures are being recommended, shoppers have been told they will not be turned away from the shops if they do not wish to comply.
It comes just a day after Victorian Premier Daniel Andrews announced that all Victorians in regional areas will be required to wear face masks from Monday after another spike in COVID-19 cases was recorded.
Coles have said while masks are not mandatory in NSW, staff have the option to wear them if they wish.


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Plastic bag fees should be legislated
The Conservation Council of New Brunswick says the provincial government should consider legislating a mandatory fee for plastic bags as a way to limit the use of the products.
NB Liquor became the latest corporation toscrap a fee for plastic bagsearlier this week. Grocery stores have also stopped including a bag fee on customers.
David Coon, the executive director of the Conservation Council, said the provincial government should consider legislating a fee for plastic bags. ((CBC))
But some environmentalists say these are steps backwards in the fight to reduce the use of plastic bags.
David Coon, the executive director of the Conservation Council of New Brunswick, said replica watches uk the small fees were effective in convincing consumers to bring their own bags.
“I think that the stores will tell you that their bag consumption dropped dramatically with this in place, and it will rise just as dramatically without it,” he said.
If businesses are going to stop imposing the fees, Coon said the provincial government should step in.
‘If we don’t have them at all and people will be forced to buy the real good bags and they’ll see how important it is, and how good it is.’ Lorinda Legere”This is ripe for government policy to expand the current approach to try and help our society reduce its production of waste and its consumption of material and energy,” he said.
The extra fees for plastic bags were supported by some shoppers, such as Lorinda Le replica watches uk gere.
Legere said she is opposed to stores giving out the plastic bags.
“It’s toxic so we should not have replica watches uk them at all,” she said.
“If we don’t have them at all and people will be forced to buy the real good bags and they’ll see how important it is, and how good it is.”
In 2010, afederal MP proposed a billthat would scrap the use of plastic bags across the country.
Business decisionsWhile environmentalists some shoppers believe the fees were useful, some businesses say they angered other customers.
Marcelle Saulnier, a spokesperson for NB Liquor, said consumer reaction was one reason why the Crown corporation decided to stop charging the fee.
She said people were complaining about the extra costs being added to their bills.
“Whenever someone was buying $150 worth of product, and they were charged a bit on top of that just for bags. It wasn’t leaving them with the experience we wanted them to get,” she said.
Atlantic Superstores also changed their policy and is once again offering free plastic bags to its shoppers.
But the stores did not drop the fee because of complaints from the public.
Instead a statement issued by Loblaw Companies Ltd. said replica watches uk the decision was made because its corporate competitors did not impose their own fees.
“None of our major competitors in the Atlantic followed our lead and attempted to reduce plastic bag use with a charge system, while many of those same competitors have implemented a charge for bag program in other regions that they operate, which are also the same markets we operate in. We remain mindful of our business environment in [the] Atlantic,” the statement said.


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Casino Planned For Cherokee County
by John Madewell
A new law makes live poker, black jack and roulette available within a three hour drive to North Carolina.
That same agreement opens the door for even closer gambling.
North Carolina and the Eastern Band of the Cherokee Nation have agreed to live casino dealers at Harrah's in the town of Cherokee, North Carolina.
And the table's now open for a new casino in Cherokee County just across the Polk County, TN line.
Steve Coleman lives in Murphy and is 1/16th Cherokee. He has also been involved in acquiring the land for the proposed casino in Marble.
Coleman motions to a forested peak off of Highway 74 and explains the plan, "It's going to go back in there because it's on trust land. The tribe brought this front part so we could have access to the trust land."
The casino itself has to be on trust land. Coleman says there are two tracts of "trust land." One is 205 acres, the other is 250 acres. The tribe bought another roughly 340 acres to provide highway, rail and direct entrance to the proposed casino.
"It means a whole lot to us as far as being able to have another gaming facility."
But there is opposition in Cherokee County and neighboring Polk County. Carol McPherson opposes the casino morally and for financial reasons. "It takes money away from families."
Yvette Welch also stands against the casino. Welch said, "Health care, education reform, we've got a lot more issues and not only in Polk County, North Carolina, Georgia, but all across the United States."
The compact also opens the table for live dealers at Harrah's in the town of Cherokee, which is about an hour down the road.
Supporters say that move will bring in 400 jobs. Back at the proposed Marble casino, in Cherokee County, live dealers will not work the floor at first but may down the road.
Snowbird council member Diamond Brown said long range plans envision a resort destination. The compact allows two more casinos in the Eastern Band of the Cherokee Nation.
Tribal chief Michell Hicks said Marble is first priority. Coleman is good friends with the chief and his father used to be a tribal council member.
He knows the 796 acres of land well and believes a casino will add a major boost to the local economy. "It'll mean a whole lot. When you start bringing in gaming, I'm not so big on the gaming, but it's going to bring a lot of jobs with it."
The U.S. Department of Interior still has to sign off on the compact but that is expected.
The state receives 4 percent of gross receipts in the first five years. That percentage progressively rises up to 8 percent over the last 10 years of the compact.
More Business News
Last Update on October 01, 2014 17:47 GMT
WASHINGTON (AP) -- U.S. construction spending fell in August, the second decline in the past three months, with housing, non-residential and government projects all showing weakness.
The Commerce Department says construction spending dropped a seasonally adjusted 0.8 percent after a 1.2 percent increase in July. The July increase followed a 1.6 percent June decline.
The weakness was apparent in all sectors. Housing construction declined 0.1 percent, reflecting a big drop in spending on remodeling. Non-residential construction fell 1.4 percent while spending on government projects dropped 0.9 percent.
In addition to the August decline, the government revised lower its estimates for activity in the previous two months. This could call into question expectations that building activity will support economic growth in the second half of the year.
WASHINGTON (AP) -- U.S. businesses continued hiring at a solid pace in September, according to a private survey. The result marks the the sixth straight month of solid gains.
Payroll processer ADP says private employers added 213,000 jobs last month, up slightly from 202,000 in August. Job gains above 200,000 are usually enough to lower the unemployment rate.
The figures suggest the government's jobs report on Friday could show a rebound in hiring. The government said employers added only 142,000 jobs in August. But the ADP numbers cover only private businesses and sometimes diverge from the government's more comprehensive report. ADP's August figure was much higher than the government's.
Economists surveyed by FactSet forecast that the government's report will show 215,000 jobs were added in September, while the unemployment rate remained 6.1 percent.
WASHINGTON (AP) -- The pace of U.S. manufacturing growth slowed in September, as expectations for hiring and new orders slipped from their August levels.
The Institute for Supply Management, a trade group of purchasing managers, says its manufacturing index fell to 56.6 from 59 in August. Anything above 50 signals that manufacturing is growing.
The index's measure of new orders fell to 60 from a reading of 66.7, while the employment component fell to 54.6 from 58.1. The one upside is that customer inventories continue to remain low, suggesting that there will be continued demand from factories.
Manufacturers have reported growth for the past 16 months, as the sector has helped drive the recovery from the Great Recession.
DETROIT (AP) -- Demand for pickup trucks and SUVs helped keep U.S. auto sales strong in September following a blistering August.
General Motors Co. and Chrysler Group led the industry with 19 percent sales increases over last September.
While August's sales were fueled by incentives on midsize cars, September saw good deals on trucks.
GM says sales of its Chevrolet Silverado pickup jumped 54 percent and the GMC Sierra pickup rose 25 percent.
Chrysler had best September since 2005, with sales of Ram pickups rising 30 percent and Jeep brands up 47 percent.
But Ford's U.S. sales dipped 3 percent as the company cut back on truck discounts in anticipation of a new F-150 later this year.
Toyota sales were up 2 percent, with its RAV4 SUV seeing double-digit gains. Honda sales increased 12 percent on the strength of the CR-V SUV and the Honda Fit subcompact.
Nissan sales rose 18.5 percent, with its newly revamped Rogue crossover up 52 percent.
Volkswagen fell 18.6 percent overall, but sales of its new Golf were up 93 percent.
MILFORD, Mich. (AP) -- General Motors CEO Mary Barra told investors Wednesday that GM will rely on new models and a big push to sell more cars in China to boost profits in coming years, as the company tries to shift the spotlight from a mishandled recall of older small cars.
Barra needed to reassure investors that GM has a strong plan going forward. The stock has dropped about 18 percent this year. It rose 2.6 percent in afternoon trading.
GM recalled 2.6 million small cars worldwide earlier this year to fix faulty ignition switches that are now blamed for at least 23 deaths nationwide. Barra said suppliers have made enough parts to fix all of the switches, but only 1.1 million small cars have had the repairs so far.
GM has admitted knowing about the problem for a decade, yet it didn't recall the cars until this February. The switches can cause the engine to stall, deactivating the cars' air bags.
Barra said GM is staying with an estimate of $400 million to $600 million to compensate ignition switch crash victims. The company has hired compensation expert Kenneth Feinberg to pay victims. He made his first payments last week.
CANADA-FORD AUTO JOBS
OAKVILLE, Ontario (AP) -- Ford Motor Co. of Canada says it is adding 1,000 jobs at its plant in Oakville, Ontario, by the end of this year to build the 2015 Ford Edge crossover SUV for the global market.
The automaker said Wednesday it also expects to increase spending on Canadian-made auto parts by $200 million a year.
The 1,000 new jobs and 300 added last year will bring total employment at the plant to more than 4,000 by the end of 2014. Ford also operates an engine plant in Windsor, Ontario and employs a total of about 6,000 in Canada.
A recent Scotiabank report on the global auto industry says that increased vehicle sales in the U.S. as well as a depreciation of the Canadian dollar had benefited the Canadian auto parts sector.
GENERAL MILLS-JOB CUTS
NEW YORK (AP) -- General Mills plans to cut 700 to 800 jobs, the second time it's trimmed its work force in a month, as the food company wrestles with a shift by U.S. consumers away from boxed or frozen meals.
The Minneapolis company expects about $135 million to $160 million in restructuring charges. It foresees annual cost savings of approximately $125 million to $150 million, starting in fiscal 2016.
General Mills Inc. anticipates the current restructuring to be completed by fiscal 2015's end.
The company has said it's begun a formal review of its North American manufacturing and distribution network, along with a pair of announcements in recent months about cost-cutting initiatives.
WICHITA, Kan. (AP) -- Amazon.com plans to close a distribution center in southeast Kansas in February, but it isn't clear how many employees the move will affect.
Coffeyville Chamber of Commerce executive director Stacia Meek said Wednesday that Amazon informed her of the closure in an email Tuesday evening.
The Seattle-based online retailer did not immediately return email and phone messages seeking comment.
Meek says Amazon told her the closure is part of a move to have its distribution centers closer to the bulk of its customers.
Coffeyville is a rural town about 70 miles north of Tulsa, Oklahoma. Amazon is one of the area's largest employers, though its workforce fluctuates widely.
The Parsons Sun first reported the closure plans and noted the company recently celebrated its 15th year anniversary in Coffeyville.
NEW YORK (AP) -- Coca-Cola is revising its pay plan for executives after shareholders including Warren Buffett expressed disapproval and called it excessive.
The world's largest beverage maker says its long-term incentive program will now distribute the company's shares to a smaller group of executives, while the rest will be rewarded with cash instead. That will mean the total shares authorized to be awarded under the plan will last longer.
The Atlanta-based company also said it would increase transparency about its equity awards and formalize its practice of share repurchases to keep stockholders' stakes from being diluted.
Coca-Cola's pay plan had come under scrutiny after Wintergreen Advisers took issue with it earlier this year, calling it a "raw deal" for shareholders. Buffett also said he discussed his concerns with Coca-Cola CEO Muhtar Kent.
UNITED STATES-BRAZIL TRADE
WASHINGTON (AP) -- The United States and Brazil have resolved a decade-long trade battle over subsidies Washington provided to U.S. cotton growers.
The agreement resolves a bitter trade fight that had strained relations between the two countries since 2002, when Brazil brought a case against the United States charging that U.S. cotton subsidies were a violation of global trade rules. The World Trade Organization ruled in Brazil's favor and the United States had been forced to make annual $147 million payments to Brazil.
U.S. Trade Representative Michael Froman, Agriculture Secretary Tom Vilsack and their Brazilian counterparts signed the agreement Wednesday in Washington. Under the agreement, the United States will make a final one-time payment of $300 million and Brazil will drop the cotton case.
WASHINGTON (AP) -- The maker of the much-debated painkiller Zohydro is seeking approval of a harder-to-abuse version of its drug which, if approved, could replace the currently marketed version of the pill by next spring.
San Diego-based Zogenix said Wednesday it submitted a Food and Drug Administration application for the new Zohydro formulation that is designed to be more difficult to snort or inject -- two common methods for abusing painkillers. Zogenix expects approval in the first quarter of 2015, which would allow the drugmaker to replace the older version of Zohydro in the second quarter.
Zohydro has been criticized by health advocates, politicians and law enforcement officials since it became the first single-ingredient hydrocodone drug ever approved for U.S. patients last fall.
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US software vendors that want to impress their stockholders with enhanced cash inflows should look to acquire SaaS vendors, according to Jérôme Fougerat, regional director of M&A specialist Corum Group, based in Seattle WA and Zurich, Switzerland. That's why SaaS companies have been holding their value better than other software vendors during the rocky market conditions of the past year, he told delegates attending the SIIA OnDemand Europe conference today in Amsterdam.
"Valuation for SaaS is declining, but less fast than the overall software industry," he said. "There really is differentiation in value between SaaS and the whole industry." Revenue multiples (ie, the acquisition price compared to annual turnover) for SaaS companies were 3.99 in September last year, rose to 4.62 in January and were still at 4.0 last month, he said, compared to 2.6 for conventional software vendors.
Although the punishingly high euro-to-dollar exchange rate makes US acquisitions especially attractive for European buyers, Fougerat argued that it can also justify US acquisitions in Europe:
"With the weak dollar, America is almost for free right now. We see a lot of small and large companies in Europe buying companies in the US. But we also see US companies buying in Europe to get strong earnings in a strong currency. They are ready to pay more to improve earnings."
Fougerat listed several factors that make SaaS vendors an attractive acquisition target, but the ability to generate cash came top of the list. "It's not just technology. It's a way of generating cash flow," he explained. In comparison to on-demand subscriptions, conventional software license models are difficult to project and more prone to volatility, he said, especially when there may be a recession looming. In contrast, SaaS offers predictable recurring cash flow with forward revenue visibility and low customer churn: "SaaS providers have the challenge of making customers happy every day, otherwise they will leave." All of that makes it easier to plan and manage growth, he added.
Venture-funded SaaS vendors that are eager to find an exit will be heartened by his message that acquirers still have reasons to buy. It certainly made for better news than his earlier statement that "the IPO market is almost dead."