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Hardware wallets are a little more old-school but tend to be considered more secure because they are kept offline. It is down about 70 percent from all-time highs, rather than the percent losses that lesser-known digital tokens have suffered.
Subpoenas signal SEC crackdown on initial coin offerings Mr. Bitcoin Basics: Despite this pessimism, the social networks where cryptocurrency fanatics gather to trade information are full of people talking about their intention to hold on to their coins, in the hope that they will recover once the technology has time to catch up with the hype.
Roberts said. Bitcoin functions by the same principles. Her company now has six offices on three continents. Read more about the Ledger Nano or buy one. Compare Popular Online Brokers. Investing in bitcoin is no joke, and securing your investment should be your top priority.
The above information should not be taken as investment advice. You may very well be ready to buy your first fraction of a bitcoin. As with who invested in bitcoin market, nothing is for sure. But by many metrics, more people put money into virtual currencies last fall and winter than in all of the preceding nine or so years.
Throughout its history, Bitcoin has generally increased in value at a very fast pace, followed by a slow, steady downfall until it stabilizes. Just a decade ago, bitcoin mining could be performed competitively on normal desktop computers. If the demand for bitcoin exceeds the rate at which it can be produced, the price will increase.
Here are our top five recommendations for where to start.
If you want a small miner to play around with mining, go for it. Why Invest in Bitcoin? Roberts said. Despite this pessimism, the social networks where cryptocurrency fanatics gather to trade information are full of people talking about their intention to hold on to their coins, in the hope that world travel holdings work from home pay will recover once the technology has time to catch up with the hype.
Learning From the Cryptocurrency Bust. A sound, global currency like Bitcoin will have the same impact on finance and the global economy. The internet made information global and easy to access. To solve complex math problems at those odds, computers must run programs that cost them significant amounts of power, energy, and money.
- Technology After the Bitcoin Boom:
- Herman said.
Inbitcoin miners began to use computers designed specifically for mining cryptocurrency as efficiently as possible, called Application-Specific Integrated Circuits ASIC. Developed countries have more options and more liquidity.
If You Had Purchased $ of Bitcoin in
For the United States, that all changed at the height of the Great Depression when America faced mounting unemployment rates and spiraling deflation. Bitcoin Exchange: Bitcoin has generally held on better with investors.
Bitcoin miners are no longer a profitable investment for new Bitcoin users. Should you Invest in Bitcoin Mining?
How to Buy Bitcoin
If you choose to trade bitcoin online, use discretion about when and where you access your digital wallet. The drawback is that on Coinbase and other popular exchanges, debit cards can only be used to purchase crypto — and even then, only in smaller amounts. At its most basic level, blockchain is literally a chain of blocks — only not in the traditional sense of those words.
Find a Bitcoin Exchange How to Secure Bitcoins As with anything valuable, hackers, thieves, and scammers will all be after your bitcoins, so securing your bitcoins is necessary. Infew businesses accepted bitcoin as a form of payment. Bitcoins can be sent from anywhere in the world to anywhere else in the world. Before settling down with an exchange, date around.
- 5 Things to Know Before Investing in Bitcoin ( Updated)
- Inbitcoin miners began to use computers designed specifically for mining cryptocurrency as efficiently as possible, called Application-Specific Integrated Circuits ASIC.
Getty Images Step One: But it, too, has struggled to win much usage beyond speculative investments. Several coins have been exposed as outright scams. Coinbase charges a one percent fee for U. The attacks by hackers against several bitcoin exchanges and the FBI seizure of more thanbitcoins from criminal online portal Silk Road caused the market price to go up and down.
These coins were supposed to serve as payment mechanisms for new software who invested in bitcoin entrepreneurs were building. But almost none forex netting these companies have delivered the software they promised, leaving the tokens useless, except as speculative assets.
The firm has invested in more than 75 bitcoin-related companies and is the world's leading firm for investing in bitcoin-related companies. Yoo said he was still a big believer in the idea that cryptocurrencies could provide a new way to transact online, without big corporate middlemen. The offices of one big exchange, Coinone, had just one customer walk in during a two-hour period in the middle of the day last week.
Similar to winning the lottery, solving hashes essentially comes down to chance — but there are ways to increase your odds of winning in both contests. Bitcoin is censorship resistant money. Throughout most of this year, you macd trading strategy in hindi have been losing sleep over the security of your bitcoins.
The virtual currency markets have been through booms and busts before — and recovered to boom again. Getty Images Step Two: InPantera launched its first cryptofund and is currently one of the largest institutional owners of cryptocurrencies. Square Cash. The Bottom Line Learn about the risks of buying bitcoinand avoid putting all your investments in this or other cryptocurrencies.
Instead of leather, wallets are made up of two unique and distinct cryptographic keys: When you exchange USD or another currency for bitcoin, you will need funds to make those transactions. Users cannot sell bitcoin or deposit money into their bank account when their wallet is connected to a debit card.
For example, speculation about the Chinese Yuan devaluating has, in the past, caused more demand from China, which also pulled up the exchange rate on U. He said he now felt that he had wasted 10 months of his life trying to play the markets.
What makes bitcoins valuable? Her investments are now down about 90 percent. It hit other milestones as well, surpassing for the first time the price of one Troy ounce of gold. See also: But this bust could have a more lasting impact on the technology's adoption because of the sheer number of ordinary people who invested in digital tokens over the last year, and who are likely to associate cryptocurrencies with financial ruin for a very long time.
A disproportionately large number of blocks are mined by pools rather than by individual miners.
Bank accounts are generally recommended if you are dealing with larger sums of money. But after a long fallow period, the price recovered. Cryptocurrencies are wildly unpredictable, even work from home jobs in petaling jaya as popular as bitcoin. After all, unlike physical rsi trading forex like precious metals or printed money, bitcoin is just lines of code.
- Amazon jobs from home puerto rico
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- Top 5 Bitcoin Investors
In fact, the odds of solving one of these problems on the Bitcoin network are about one in seven trillion 12 zeros. According to the bitcoin program, however, the rate that bitcoin is produced cuts in half about every four years. Roberts, 28, has a lot of company. But for now he has stopped trading and when will forex market close looking for another job.
The start-up Square began allowing the users of its mobile app, Square Cash, to buy Bitcoin last November.
Bitcoin itself is secure, but bitcoins are only as secure as the wallet storing them. How to Invest in Bitcoins and Where to Buy The difficulty of buying bitcoins depends on your country. But Mr. At this rate, the total number of bitcoins in circulation will approach a limit of 21 million.
Many people think Masters gave bitcoin a lot of legitimacy with Digital Asset Holdings, considering her past reputation on Wall Street.
But while transactions are publicly recorded on the blockchain, identifying user information is not. If a computer is the first to solve a hash, they store newly-made transactions as a block on the blockchain, at which point they become unalterable.


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egyptict - en
Egypt has seen a two percent drop in its software piracy rate to reach (59%), the U.S.-based Business Software Alliance said in its recent study, released last June.
Over a 1000 of the the region’s government leaders, digital practitioners and entrepreneurs will gather for the third edition of Arabnet Kuwait - on October 7-9, at Courtyard by Marriott. The conference will bring together 90+ speakers, 40+ exhibitors, as well as high-level sponsors including Digita
InfoFort, an Aramex company and a leading information management solution provider in the Middle East and Africa, will showcase innovative ways of digitally transforming organizations and catapulting them into the digital realm at GITEX Technology Week 2018.
InfoFort will exhibit its capabiliti
Zain Iraq has selected Ericsson to modernize a number of its legacy sites with Ericsson Radio System in a contract signed recently that serves to strengthen the partnership of the two companies.
Under the terms of the deal, Ericsson will reinforce its role as a trusted business partner by provi
Dell EMC today announced the appointment of Murray Irvine as Senior Director, Global Compute and Networking (GCN) across Middle East, Turkey, and Africa (META) region.
With over 22 years of extensive experience in the IT industry and 11 years of tenure at EMC, Murray transitions from his previou
Premium automobile manufacturer Audi, and 5G innovation leader, Ericsson are announcing plans to pioneer the use of 5G technology for automotive production. At Audi’s headquarters in Ingolstadt, Germany, the two companies agreed on a range of activities exploring the potential of 5G as a future-proo
Samsung Electronics Co., Ltd. unveiled its latest television lineup in Egypt; the 2018 QLED TV. The new lineup features many exciting new technologies that enable incredible picture quality, smart capabilities and unique design elements that allow the TV to effortlessly complement the home’s décor.
A new partnership between “Aman” and “Accept” offers small and medium-sized businesses the opportunity to have access to e-payment services
“Aman” for E-Payments and “Accept” announce a new partnership in efforts to contribute to the financial inclusion initiative that is recently being sup
Schneider Electric, the global specialist in energy management and automation, recently introduced Galaxy VX™, a highly efficient, easy to deploy, compact three-phase uninterruptible power supply (UPS) with flexible operating modes for large facilities, data centers and business-critical application
Link Development; the global technologe solutions provider and an A15 company, unveiled today a refresh of its flagship digital census platform, “Count Big”, to help EMEA’s government agencies, and worldwide, in conducting cost-efficient census, surveys and inspections to build the future based
Samsung Electronics Egypt announced the launch of the Galaxy J4 and Galaxy J6 smartphones in the local market. With sleek designs, powerful cameras, and Super AMOLED screens, the new range delivers high quality and performance.
“We continue to listen to our customers and deliver above and b
In an event held today, OPPO, the selfie experts and leaders, celebrated the launch of the latest addition to the F series, the F7. Together with the first ever 25MP AI powered front camera, Super Full Screen and glossy design, the F7 offers consumers a better user experience. Priced at 5,990, th
In line with its objective to pioneer 5G development and implementation across the region in the coming years, Ericsson presented its latest 5G strategy at 5G MENA 2018.
As a Global ICT Strategic Partner Sponsor at the conference, Ericsson hosted a keynote session on creating the 5G connected
Link Development”; the global technology solutions provider and an “A15” company, announced today the delivery of its cutting-edge Microsoft Dynamics 365-based real-estate solution for digital transformation to Madaar Development, Egypt’s rising star in real-estate development and investment; with t
Careem, the region’s leading app-based car booking service, is simplifying transportation and offering unconventional solutions to help customers reach their destinations in the best way possible with the launch of prepaid packages for the first time in Egypt. Three prepaid package options are avail

domain: news


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Alibaba Group (NYSE: BABA) has agreed to invest around $2.87 billion for a 36.16% stake in Chinese hypermart operator Sun Art (HK: 6808).
- Why it's the BFD: Because this is a major shot at both Amazon and Wal-Mart in the battle for global retail supremacy. In terms of Amazon, this is just Alibaba's latest addition to a brick-and-mortar wall that predates and towers over Whole Foods and automated convenience stores. If Alibaba chooses to go physical in the U.S., it will have much more knowledge and data than does Amazon. For Wal-Mart, this is a direct challenge to its China business.
- Bottom line: "Alibaba has invested upwards of $9.3 billion in brick-and-mortar stores since 2015. It has launched many un-staffed concept shops in the past year, including grocery and coffee stores." — Reuters
• Casa Systems, an Andover, Mass.-based maker of cable and mobile edge devices, has filed for a $150 million IPO. It plans to trade on the Nasdaq under ticker CASA, with Morgan Stanley and Barclays serving as lead underwriters. The company reports $6 million of net income on $234 million in revenue for the first nine months of 2017. Shareholders include Summit Partners (52% pre-IPO stake) and Liberty Global Ventures (6%). www.casa-systems.com
• The Canada Pension Plan Investment Board is considering investing in new venture capital funds again, more than a decade after bailing on the asset class. http://axios.link/SJfm
• Crosslink Capital is raising up to $250 million for its eighth VC fund, according to an SEC filing. www.crosslinkcapital.com
• SK Telecom, Hyundai Motor Co., Hanwha and Element AI have formed a $45 million venture fund focused on global AI startups. http://axios.link/Yjmp


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Reliance Retail to join the e-commerce fray soon
Reliance Retail plans to enter e-commerce in 2014, in order to compete with other leading players in the fast growing online retail market such as e-Bay and Amazon.
Reliance Retail, a unit of billionaire Mukesh Ambani-led Reliance Industries, operates over 1,500 stores, including hypermarkets, digital stores, jewellery outlets and apparel stores, in 136 cities across India, is already working on the project.
A source who did not wish to be named, informed ET that the company may adopt a marketplace model. In the marketplace model, e-commerce companies do not sell products directly, but offer their online platform to facilitate sale of products of other vendors. In return, the e-commerce company either gets a percentage of the sales or listing fee. Amazon for example uses the marketplace model, besides the hundreds of local e-commerce players in the country, like jabong.com, yebhi.com, snapdeal.com, flipkart.com – many of them using marketplace or a hybrid model to remain competitive.
According to analysts, the country’s Internet user base is expected to almost treble to 300 million by 2016 and will be dominated by online travel related and retailing services. experts believe that as against organized retail, which is restricted to metros and big cities and has a penetration of only 7-10%, the opportunity offered by e-commerce is huge as it allows companies to deliver most products anywhere in the country. In recent times, however, many organized retail players are seeking profitability in the online space. Future Group already has an online channel for its electronics retail chain ezone. Last month, Future Retail launched Big Bazaar Direct, an e-commerce-enabled direct selling business for its flagship hypermarket Big Bazaar.
Industry watchers are eager on how and with business model Reliance Retail venture in to the online space and how efficiently it can ride the e-commerce bandwagon.
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- What Google's Foray Into E-Commerce Means For India
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- 5G To Pave Way For Self-driving Cars' Safety: Gartner
- Embrace And Adapt, The New Mantra For Digital Enterprises
- AI Is The Future of Cybersecurity


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In 2012, what connected Twitter with Apple, AOL, Google, Hotmail, LinkedIn and Yahoo?
Online security – or rather, on occasion, a distinct lack of it.
Each of these firms, alongside others such as Zappos and Formspring, suffered pretty serious security breaches in the past 12 months, with tens of thousands of Twitter usernames and passwords compromised back in May.
But Twitter’s problems were a relative drop in the ocean compared to LinkedIn, Apple and Zappos, each of whom had security exploitations that exposed millions of accounts.
This infographic takes a closer look at what has been a pretty rough year for online security.


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Elihuu, a site that matches designers and manufacturers, is expanding this year as many tech companies move from being purely digital to being more product-oriented.
After its June 2013 launch, Elihuu joined TechStars Boulder in August and was advised here by the president of 3D printing company Makerbot. The company now is relocating to Oakland to cater to San Francisco, a burgeoning manufacturing community. The team is also seeking to add on two more members and expand its operations, CEO Dorian Ferlauto said.
Prior to its big move, Elihuu was backed last month with $30,000 in venture funding from University of Colorado-Boulder Deming Center Venture Fund to facilitate an uptick in operations.
Because Ferlauto said “design and manufacturing is hopping up along the coast,” Elihuu is hiking up its New York operations and forming partnerships in Chicago and Detroit communities. The team is also announcing a partnership with the Urban Manufacturing Association this January.
These nationwide expansions show the progress that Elihuu has made just in 2013 - when Ferlauto, who has a manufacturing background, teamed up with co-founder Alex Henry, who has UX design experience, to match up manufacturers and designers.
“We started because there were so many people saying, ‘I don't know how to find the right people based on the right capability and the right needs,’” Ferlauto said. “There is a marketplace of people making things and people designing things, but these people aren't communicating.”
The team feeds the maker movement fueled by services like Kickstarter and Etsy. Elihuu is “sort of like a dating site,” she said. “There was a big void in consumer demand in actually getting products made at scale and delivered in time.”
For designers, the company creates an outlet for both prototyping and mass production of creative ideas. It helps bring to life innovative ideas. Elihuu can match people to 3D printing capabilities to build products such as new beer bottle openers or jewelry designs. It also helps designers configure needs to build a product such as materials to use and the proper costs.
One example of success includes a San Francisco bike designer who looked for a year and a half to find a manufacturer, before turning to Elihuu; the company found him a manufacturer based in Vermont within in five days of account creation.
For manufacturers, it helps solve the problem of operating below peak efficiency. It also helps manufacturers without a ton of marketing or tech-capability reach a far greater audience.
Ferlauto said Elihuu’s future will encompass a greater density of designers and makers. It will connect a larger number of people including engineers, industrial designers, research and development, and digital design specialists to get assets ready for production.
Sonali Basak contributed writing to this story.


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Burberry boss credited with de-chaving the luxury brand is to head up Apple’s retail operation.Angela Ahrendts, CEO of Burberry, is to leave the British luxury brand for a role as Senior VP of Apple’s Retail and Online Stores.
The strategy guru, attributed as spearheading Burberry’s retail finesse, whose stores are described as “one of the most technologically advanced stores in the UK” complete with iPads customers can browse. She will be a member of Apple’s executive team, in a newly created position, Cupertino announced.
One of the UKs highest paid CEOs, Ahrendts is also an expert on China markets – Apple’s second most important market outside the US, which it is looking to aggressively grow.
She will report to CEO Tim Cook, who has described her as “wicked smart.”
Ahrendts will oversee the strategic direction, and operation of Apple retail and online stores, already a retail icon with features like the Genius Bar, Personal Setup and One to One personal training.
“I am thrilled that Angela will be joining our team,” said Cook.
“She shares our values and our focus on innovation, and she places the same strong emphasis as we do on the customer experience. She has shown herself to be an extraordinary leader throughout her career and has a proven track record.”
“I am profoundly honored to join Apple in this newly created position next year, and very much look forward to working with the global teams to further enrich the consumer experience on and offline,” said Ahrendts.
Prior to Burberry, she was executive vice president at Liz Claiborne and president of Donna Karan International.
Apple is growing its retail footprint globally, having opened up new locations in Oz this year, including Canberra.


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New South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg
South African rand weaker before retail sales data
JOHANNESBURG (Reuters) - South Africa's rand was slightly weaker early on Wednesday as investors awaited retail sales data for clues about the health of the economy.
At 0610 GMT, the rand traded at 12.5900 versus the dollar, down around 0.15 percent from its close on Tuesday.
Statistics South Africa is scheduled to publish March retail sales data, which reflects the strength of consumer confidence, at around 1100 GMT.
Economists polled by Reuters expect retail sales growth to slow to 4.4 percent from 4.9 percent in February.
The rand slumped by almost 2 percent on Tuesday, hurt by a strong dollar fuelled by rising U.S. bond yields.
The South African currency has been pulled this way and that in recent weeks, taking its cue from global market moves. It is down around 1 percent against the U.S. currency since the end of last month.
Government bonds were also weaker in early deals, with the yield on the benchmark instrument due in 2026 up 1.5 basis points to 8.505 percent.
(Reporting by Alexander Winning, editing by Louise Heavens)
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Tasty Burger is planning to grow its grass-fed empire. But where? And when?
The Boston-based chain, which has five Boston-area locations and one to soon open in Washington, D.C., is looking to raise $15 million in equity, according to a Security and Exchange Commission company filing Thursday, and so far has collected around $2.6 million.
Phil Audino of The Franklin Restaurant Group said the company is reorganizing and raising funds for “future expansion,” but added that there is “nothing huge on the map.”
Audino is listed in the filing along with Tasty Burger CEO David Dubois; Mark Suleiman of Suleiman Holdings; and Edward Leigh, who is listed as a director in the filing.
A June announcement from Suleiman Holdings said that Suleiman joined Tasty Burger’s board of directors “as the neighborhood burger shop begins its national expansion.”
In February, the company opened a location in Dudley Square in Boston. The Washington location is scheduled to open at the end of July.


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In February Patently Apple posted a report titled "Beyond the 160 Million OLED Displays already Secured with Samsung, Apple is now in Talks with China's BOE." At the time BOE noted that their OLED displays were underpinned by their proprietary advanced Super Dimension Switch technology and characterized by ultra-high definition, ultra-slim bezel, high contrast-ratio, ultra-thinness, integrated touch solution, great energy efficiency, and environmental friendliness. Today a new report reiterates that Apple is still in talks with BOE who now has entered the flexible OLED market that could directly compete with Samsung. BOE is the first Chinese based display company to enter the flexible display market.
The company already has orders lined up with Huawei. According to a new Korean report, "it is confirmed that BOE is going to start producing flexible OLEDs at its B7 plant, which is located in Chengdu, at the end of this month. It has already secured parts and materials that are needed to manufacture flexible OLEDs and is planning to produce 5.99-inch flexible OLEDs starting from November after starting off with 5.5-inch flexible OLEDs. It is understood that BOE is going to produce about 10,000 flexible OLEDs per month. Although its output is rather small due to low yield, it is going to supply its flexible OLEDs to Huawei.
Huawei is the number one and number three Smartphone manufacturer in China and in the world respectively. According to industries, Huawei is planning to use flexible OLEDs from BOE for its Smartphone business starting from this month.
This is the first time when a Chinese business is producing flexible OLEDs. BOE is China's biggest display manufacturer and has become a global business in LCD markets after actively making investments along with support from Chinese Government. By supplying flexible OLEDs to Huawei, BOE has also achieved positive results of entering flexible OLED markets that are growing at a fast rate."
The shift to flexible OLED could have been something that Apple pushed for in their talks with BOE back in February and perhaps a schedule as to when they could enter Apple's supply chain. As Apple shifts their main product displays from LCD to OLED and flexible OLED, they'll need BOE, LG and others firing on all cylinders to complete the shift as soon as possible.
About Making Comments on our Site: Patently Apple reserves the right to post, dismiss or edit any comments. Those using abusive language or negative behavior will result in being blacklisted on Disqus.


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"It's really what keeps me awake at night ... How is society going to cope with structural unemployment and the envy, hated and the social warfare? Because the people with money will not wish to show it," Johann Rupert, chairman of Cartier owner Richemont said at a Financial Times conference in Monaco.
He is afraid that robots would "put hundreds of millions of people out of work," which would broaden the gap between rich and poor and stoke social turmoils.
While the audience seemed stunned, he kept on with dystopian warnings, saying that it is not possible to have 0.1% of 0.1% of rich individuals taking all the spoils.
"And folks, those are our clients. But it's unfair and it is not sustainable," he said. "So I don't know what new social pact we'll have, but we'd better find one."
Rupert has been working in the luxury retail industry since 1976. According to Bloomberg, he and his family are estimated to own about $7 billion, and are among the 20 biggest shareholders in Richemont, Switzerland-based group which holds a dozen of luxury brands,
including Montblanc, Chloe, Net-a-Porter and Van Cleef & Arpels.
Rupert said he had been thinking about these problems after reading about the rise of machines in the workplace and what professions machines can kill.
"We are in for a huge change in society. Get used to it, and be prepared," he said. "Hopefully we will survive it, because we're planning for it."


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Huntington Ingalls Industries’ push into the unmanned vessels business this year has gone international, with a sale of undersea drones to the German navy.
The REMUS 100 drones are a key product of the Massachusetts-based unmanned vessel manufacturer, Hydroid Inc., that HII acquired earlier this year for $350 million. The German navy will use the drones to clear mines. It won’t say how many it is buying or what it is paying for them.
HII followed its purchase of Hydroid this fall, announcing a facility in Hampton that it will use for production and testing.
The first of the two buildings on the 20-acre campus is nearly complete and the larger manufacturing facility will be completed next year, HII spokeswoman Beci Brenton said. The company expects to employ more than 250 people in Hampton, and says the facility will enable collaboration between its unmanned vessel business and Newport News Shipbuilding, with its in-house expertise with submarine engineering.
In addition to Hydroid, HII’s other unmanned vessel and robotics operation is based in Florida.
In a conference call with Wall Street analysts earlier this fall, HII chairman and chief executive Mike Petters said both Hydroid and the new Hampton center will allow the company to scale up its unmanned vessel and robotics business, including making large and extra-large unmanned undersea vessels.
At that conference, HII chief financial officer Chris Kastner said that Hydroid opens some international opportunities, adding “that’s something that we have not done traditionally.”
The German navy acquired six earlier models of Hydroid’s REMUS in 2012. It uses these for underwater searches and mapping. The vessels are just under 6 feet long and weight about 80 pounds. They can operate at depths of more than 325 feet for up to 12 hours.
Dave Ress, 757-247-4535, firstname.lastname@example.org


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As you walk past an Oakley store in the United Kingdom or certain parts of Wales, you might spot a very prominently-displayed digital snowstorm. You might stand there and stare, wondering what on earth is the snowstorm for and if it was merely a new Christmas decoration. Well, it is not. It is one of the latest marketing ploys adapted by the giant clothing and eyewear brand name. The new Oakley marketing campaign is designed to promote the company’s latest winter 2009 clothing line designs and have been launched in multiple parts of the UK and Wales.
The said snowstorm display will not only feature swirling snow and howling wind, if you stood there long enough, you might catch a QR Code in there. When the QR Code is scanned, you get a special, exclusive gift from Oakley. The company hired one of the largest advertising and marketing companies in Manchester to ‘do up’ this marketing tactic and we think it is a neat idea because many UK people are already quick to catch on to the latest QR Code trend. UK residents are generally well-educated with code-reading applications and latest phones comes pre-installed with QR Code readers too. Hence, this is the difference between UK locals and Americans.
Certain flagship stores are already displaying the said digital snowstorm, most of the stores are found in key city locations to help promote the winter clothing line.
So, what happens when the QR Code is scanned? Well, as per usual, the QR Code is a link to one of the company’s newly developed mobile website designed for Oakley specifically for this marketing campaign. When logged in through the mobile website, they stand a chance to win an amazing one-week-long holiday with a very unique Alp Hotel and can add the full Oakley kit to their collection.
There is also a very dummy-proof element to it too because every visitor who logged into the mobile website will be given a unique reference number. If they win the price, the reference number can be used to claim their brand new Oakley gift.
The company says that there is a surge of new QR Code marketing campaign in the UK and it is proving to be an inexpensive and highly effective form of driving traffic to their websites and stores. We don’t know how true the statement is but it seems that within the first few days, there was out-of-expectation response to the new QR Code marketing campaign.
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In the US, FirstFruits Marketing has revealed that Opal apples have featured in an array of consumer media since the seaso began late last month, and has now reached over 43m impressions.
The Opal brand is backed by a comprehensive marketing strategy and calculated initiatives, and this marketing and public relations strategy is a key element driving sales at retailers.
According to FirstFruits, media highlights so far this season have included noteworthy features on Today.com, Reader’s Digest, Delish, Taste of Home, FoodBeast, The Nibble, Extra Crispy, Hungry Forever, and more.
The apple's reputation as one of the best-tasting apples on the market and a fan-favourite due to its non-browning feature helped position Opal among the Top 20 apple varieties in the country during the 2016/17 season, and that momeuntum has continued, the group confirmed.
"We're delighted with all the media attention surrounding the Opal apple this season,” said Chuck Zeutenhorst, general manager of FirstFruits Marketing of Washington. "It’s great to see our marketing efforts for Opal coming together, and we will continue to find new and effective ways to increase awareness. We enjoy connecting with retailers and supporting stores on an individual basis and we’re off to a great start.”
The 2017/18 season marketing campaign aims to emphasise Opal’s points of differentiation including its natural resistance to oxidation, bright yellow exterior, crispy texture, and sweet yet tangy flavour.
FirstFruits represents Broetje Orchards, a leader in Washington organic apple production and an innovator in new varieties to the market, as well as Congdon Orchards.
The group offers the variety in both organic and conventional options beginning in late October and expects supplies to last through June 2018.


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The tech giant Facebook reported its second-quarter earnings on Wednesday. Well, it has effortlessly beat up the Wall Street expectations. The company’s strong earnings show that despite being the face of negative headlines it has the resilience to rise with the strong earnings.
According to the reports, Facebook has marked $16.9 Billion in revenue i.e. 28% up than the previous year. It also flashed $2.6 Billion in profits despite keeping the $2 Billion settlement for the quarters to the Federal Trade Commission. This has accounted for accounting based change regarding stock-based compensation.
If we pull out the charges against the company, it has beat up the analyst expectation[$1.88 per share] by earning $1.99 per share. While the company recorded 1.59 Billion users on the platform every day matching up with analyst expectation.
The company’s top executives said that it can earn more further by investing more in privacy and security. Facebook has faced many obstacles regarding privacy issues from regulators. However, it had a settlement with FTC worth $5 Billion it has one more obstacle to overrun. Recently, the Department of Justice has called out the anti-trust review for the tech giants keeping Facebook under scrutiny.
“We believe that there needs to be a regulatory framework in place,” said Facebook CEO Mark Zuckerberg on the call with analysts after the report. “My broader concern is that if that doesn’t get put in place, then frustration with the industry I think will continue to grow.”
Facebook has mostly beat up every Wall Street expectation but it is still struggling with its reputation in the industry. Oxford reports learned that its share price has climbed by 56% from the beginning of the year despite the backlash it received for its security issues and its plan to develop cryptocurrency Libra.
In the congressional hearing last week, they said it will impose restrictions on Libra until Facebook gain the confidence required for such project. “The privacy efforts do require significant investments obviously in compliance processes, people and technical infrastructure,” Chief Financial Officer David Wehner said on the call with analysts. “One of the impacts that I’d point to is it’s also a reallocation of resources around privacy so that will have an impact on our overall product development as well.
The company’s share surged by 3% after the second-quarter earnings report release.


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Ice-Watch’s renaissance is gathering pace across Europe and Germany is now poised for growth thanks to the appointment of ILG Group as its distributor for the country.
Germany was a key market for Ice-Watch in its first big surge ten years ago when the country embraced its colourful fashion watch concept.
By 2010 the brand was a in the top five for watches priced between €50 and €100.
ILG Germany GmbH, which used to trade as TWC Uhren GmbH, was established in Germany in 2001 and is a subsidiary of the Group ILG based in Switzerland and present in 74 countries.
Worldwide, the group represents brands ranging from Swiss watchmakers Aigner, Saint Honoré, Cerruti and Swiss Military along with licensed products for the likes of Timberland, and Police.
Since 2012, Ice-Watch has restructured its organisation based around a 6,000 sqm logistics centre located in Bastogne, Belgium, which can turn around orders from retail partners in France and Belgium in less than 48 hours.
This speedy turnaround is being promised to Germany as well.
“To duplicate this winning distribution model in Germany, another neighbouring country, we needed the expertise of an already well established salesforce in order to ensure the brand’s maximum reach. We found it with the ILG Germany. Our Ice-Watch team based in Cologne will take care of the large accounts and the sales force of ILG Germany will provide the animation of the retail network. We are delighted to see our forces come together, says Ice-Watch CEO Jean-Pierre Lutgen.”
Matthias Zarbock Sales and Marketing Director of ILG Germany, is looking forward to relighting a fire again under the brand. “Ice-Watch enjoys a strong sympathy with German jewellers. Hard to forget the colourful columns of Becubic, the emblematic packaging of the Ice-Watch watches, which revived the jewellers’ windows and brought a real fresh wind to the watch market in 2007,” he says.


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Fed Chair Powell Tells Senate that Inflation Isn’t Going to End: ‘Good Time to Retire the Term Transitory’
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Federal Reserve Chairman Jerome Powell told a Senate panel on Tuesday that he believed it was time to stop referring to inflation as “transitory.”
“I think the word ‘transitory’ has different meanings to different people,” Powell said in testimony to the Senate Banking Committee. “To many, it carries a time — a sense of short-lived. We tend to use it to mean that it won’t leave a permanent mark in the form of higher inflation. I think it’s probably a good time to retire that word and try to explain clearly what we mean.”
The Merriam-Webster Dictionary defines transitory as meaning “of brief duration” or as “not persistent.” Powell has repeatedly used the word to insist that inflation would be “transitory” in duration.
But skeptics have questioned that thesis, including Sen. Pat Toomey (R-PA), who asked Powell the question that prompted him to suggest eliminating the term. “I know you believe this is transitory,” Toomey had remarked. “How long does inflation have to run above your target before the Fed decides maybe it’s not so transitory?”
Inflation hit a 30-year record in October, with consumer prices rising by 6.2 percent. It was the fifth consecutive month the Labor Department reported inflation exceeding 5 percent.
Markets reacted poorly to Powell’s comment. The Dow Jones plunged by 400 points in the hour after his remark, while the Nasdaq fell 200 points. In cryptocurrency, the remark put a stop to a record-breaking surge for Ethereum, which fell from an all-time high of $4,758 to roughly $4,500.
“We understand that high inflation imposes significant burdens, especially on those less able to meet the higher costs of essentials like food, housing, and transportation,” Powell added elsewhere in his testimony. “We are committed to our price-stability goal. We will use our tools both to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched.”
Watch above via C-SPAN.
The post Fed Chair Powell Tells Senate that Inflation Isn’t Going to End: ‘Good Time to Retire the Term Transitory’ first appeared on Mediaite.


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National discount retailer, Cash Generator is continuing to grow at an exceptional pace despite the difficult economic conditions.
The Bolton-based company has already opened 24 stores during the first six months of trading in 2011. The unprecedented expansion has seen the number of franchise stores increase by 21% in the last year.
Having opened its 150th store in the summer, the company expects to hit 200 by early 2012. As well as increasing the number of franchise-operated stores, the company has invested heavily in expanding its corporate stores. Cash Generator has opened six stores in London, marking a milestone for the retailer as it’s the first time the company has had a presence in the nation’s capital.
2011 has also seen the roll out of the popular express store concept. The express store has been trialled over the past 18 months with stores in Stretford and Stechford. Offering convenience for consumers, Cash Generator express stores are located on busy arterial routes, combining high visibility for motorists and easy access for local residents. Seven express stores have opened in 2011 proving popular with consumers, with the total store network reporting 20,000 items a week being purchased on the buying counter.
With the impressive growth, Cash Generator has also heavily invested in the infrastructure at its Bolton head office. 20 new roles have been created at head office with roles across compliance, I.T, marketing and training. Cash Generator is committed to building the right structure to provide support for the business and its growing network of franchisees.
Cash Generator’s renowned training programme offers franchisees a structured and professional programme from CIPD approved trainers. Whatever their skill set, franchisees are guided through a mixture of academic and vocational training. Support is also offered from the very beginning of the franchise process, with guidance from the property team to help find the right location and the financial department offering franchisees the best advice to put together a solid business plan.
Julian Urry, managing director of Cash Generator, said: “This has been a fantastic year for Cash Generator so far. Our business is continuing to grow allowing us to expand at impressive rates. Savvy consumers are turning to us as the first place to get a fair deal on retail and financial services. We are hopeful that the final quarter of 2011 will continue in the same vein with a busy Christmas expected.”
One of the UK’s top 10 discount retailers, Cash Generator specialises in the buying and selling of nearly new products and is viewed by many as the eBay of the high street. Franchisees benefit from Cash Generator’s multiple income streams, alongside its retail services, the company also offers additional competitive financial services including cheque cashing, Western Union worldwide money transfers and foreign currency exchange.


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Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
For an industry that took in $46.2 billion in 2015 and is projected to rise to $51.8 billion in 2020 (according to Mintel) bending to millennial whims isn’t just a good idea — it’s crucial. They’re not only the largest generation in America, but according a 2015 study done by TABS Analytics, women ages 18 to 34 are also the biggest portion of the $13 billion dollar cosmetics market, and they’re more likely to be heavy buyers, meaning they purchase more than 10 types of products a year. Plus, today’s shopper isn’t against a splurge — the U.S. prestige beauty industry reached $16 billion in 2015, a seven percent increase over 2014 sales, according to The NPD Group. The biggest gainer: makeup at 13 percent — a jump attributed largely to the generation’s love for the Instagram-driven trends of contouring, strobing, baking, and color-correcting with dollars going to concealer, primers, and contour, highlighting, and sculpting kits as well as eyebrow products.
This distrusting, must-see-to-believe stance is impacting how, why, and where buying happens, and so the industry must respond. And with retailers and brands changing to accommodate these shifts, it’s effectively changing how all consumers shop for beauty. Here’s a look at the changing landscape.
The "Sephorization" of beauty aisles
Millennials don’t just want to witness a product in action, they demand it. Testing is vital to today’s buyer. This could partially explain why respondents in the TABS survey reported buying fewer beauty products online last year than the year before, and has certainly helped the rise of the sample box services like Birchbox, Ipsy’s Glam Bag, Memebox, and Scentbird. It’s also one of the reasons specialty stores Ulta and Sephora have seen such success. With testers out, they’re playgrounds for consumers to decide for themselves what’s worthy of a credit-card swipe.
Testing is vital to today’s buyer.
Trial stations are a great set up to break past several barriers of suspicion, which is why although the main store categories (mass retailers, drugstores, and department stores) are still top dog for cosmetic buyers overall, these two retailers are hot on their heels. In the TABS survey, Ulta had a 41 percent increase in regular buyer purchases compared to 2014. Sephora reported a 25 percent increase in buyer penetration and a 32 percent increase in regular buyer purchases over 2014. Another checkmark in their corner: people spend more there per visit.
The message is clear. Consumers want to try before they buy. And retailers are listening as more are offering samples and bringing products out on shelves vs. behind counters, a move Karen Grant global beauty industry analyst for The NDP Group calls "Sephoraization." A few other indications that the industry is rolling with these punches: Nordstrom has created a sampling and educational "conceirge" service. Target has created its own beauty trial box service.
Sephora even took things a step further with the debut of its TIP (an acronym for Teach, Inspire, Play) concept store in San Francisco last year, featuring education centers equipped with iPads loaded with information, USB ports, and WiFi, as well as makeover and skincare stations where consumers can get a customized prescription for the beauty look of their choice. The company indicated that the model is the blueprint for future stores.
One side effect of this environment is that anti-aging is down within this age group, as anything that takes time to see results is at a disadvantage. We’re seeing that reflected in the sales numbers, as fragrance is outperforming skin care, and the overall focus of the category has shifted to preparation with masks (the sales of which have doubled in the past two years, thanks in part to the growing interest in Korean-based skin trends) and conceal-while-they-correct CC creams.
No more one-size shopping
This overall feeling of skepticism isn’t stopping people from buying from the big brands — the TABS Analytics report found that in the U.S. makeup category mainstream players like L’Oréal Maybelline, CoverGirl, Revlon, Estée Lauder, and Clinique and well-known specialty brands like MAC and Urban Decay are still going strong.
As a group with a penchant for self-expression and individualism, millennials like choice.
What it does seem to be impacted is the belief that any one brand is the answer to all their problems. As a group with a penchant for self-expression and individualism, millennials like choice. "It’s like the a la carte menu instead of having it all set for you. You can’t image having your playlist dictated to you today," explains Grant.
This means the door is opening wider to specialty, niche, and indie lines. The NPD Group reports that in the prestige space, smaller brands like Anastasia Beverly Hills, IT Cosmetics, Too Faced, NARS, and Tarte have all seen significant growth. Whether these Davids will eventually cut into the sales of tried-and-true Goliaths remains to be seen. "[It’s] definitely not inevitable that big brands will lose sales to new brands," says Kurt Jetta, Ph.D., CEO and lead product developer for TABS Analytics. Why? "The consumer has demonstrated a very high capacity to try and use multiple brands and that tendency seems to be growing over time." In other words, they’re buying more of everything — both niche and big-name.
One growing area of interest: the natural segment. In a survey by Nielsen, 53 percent of respondents felt "all-natural" was important in their buying habits today. We can see this reflected by the 24 percent growth the organic channel saw over a four-year period, and is likely also fueled by the growing distrust in the use of chemicals.
Then there’s the ethnicity angle, something that’s being addressed by cross-culturual indie brands like black Up cosmetics, Korean cross-over brand Chosungah 22, and Miss Jessie’s hair care line — as well as household-name companies.
"We’re seeing a revolt in the beauty aisle by consumers who don’t understand why ‘multicultural’ products are often sold on separate shelves."
"We’re seeing a revolt in the beauty aisle by consumers who don’t understand why ‘multicultural’ products are often sold on separate shelves, and this reflects changing demographics," says Shepherd Laughlin, director of trend forecasting at J. Walter Thompson. "Going forward, any brand is going to have to create products for all types of hair and skin in order to be considered a mainstream brand." One giant leading the way: L’Oréal, which recently created its own multicultural beauty division.
Consumers also like to vary how much they’re spending. "There’s this sharp differentiation in the pricing," says Dr. Jetta. "They either go really inexpensive and still look for quality [with products] below $5 or indulgent in the $20, $30, $40 range." This kind of high-low buying that has ruled fashion for years means that now a consumer has a beauty wardrobe of "luxury" and "affordable." This fact is an advantage for Ulta, which carries budget, mid-level, and prestige brands side by side by side, offering a one-stop-shop for the cost mixer-and-matcher. This also may be a clue as for what’s to come at Macy’s with the company’s recent acquisition of luxury retailer Bluemercury. Looking forward, Dr. Jetta says, "If one of the major retailers like Walgreens, CVS, or Target cut a deal with the heritage brands like Chanel or Lancôme that would be a major coup."
Death of a (traditional) salesman
Besides the traditional products-behind-the-counter or products-in-packaging set up another traditional store element is now on the endangered species list: The traditional sales associate. While folks are still showing up in the flesh to buy their products (90 percent of shopping is still done at brick and mortar stores), buyers today are taking the experience into their own hands and researching before they buy.
"Most purchases are planned — the buyer now goes in knowing what she wants at least 70 percent of the time."
While they still want to try the products in the store to seal the deal, "Most purchases are planned — I would say that the buyer now goes in knowing what she wants at least 70 percent of the time," says Grant. So where are they turning? Online reviews for one. Beauty blogs and YouTube are also two winners here (with social media platforms like Facebook, Pinterest, and Instagram trailing behind them, according to the TABS report). But perhaps the gold standard is the advice of a friend. The majority of shoppers in this key age group said that a recommendation from someone they know is influential to their decision to buy a brand, second only in influence to price, according to Adriot Digital’s Millenials: The New Age of Brand Loyalty report.
In fact, shoppers are so disillusioned with biased advice that even if they haven’t had time to research beforehand, asking for help is still not something they’re likely to do. A recent poll found that the number of people who would rather reach for their smart phones for a quick check on a product’s reputation or price comparison rather than ask the salesperson has reached 58 percent.
This DIY research boosts buying confidence and helps match product expectations with reality. But it also means that the traditional salesperson is out. Once the gatekeeper to the world of beauty and the leading role in the buying experience, the sales associate is now the helpful supporting cast member that people want only involved when absolutely necessary — and without any pressure or tie to one particular line in a multi-brand store. This impacts all retailers across the board, as a pushy employee could scare off a jittery browser. The shift is also perhaps one of the reasons why brands like CoverGirl, MAC, and Honest Beauty have tried to take product education into their own hands with the release of try-on and how-to apps to increase consumer knowledge without the help of a sales person.
Clear labeling and brand messaging is becoming increasingly important in the environment — when a consumer is picking on their own, they want to know what they're getting. Nielsen indicates that consumers are now looking for terms that are easily understood (like "retinol" and "collagen" rather than something like "hexinol technology") as well as specific details about what to expect — for example, they want to know how long it takes to see results up front. It's also a way that users can make sure products and the companies making them align with their values, says Dana Cho, partner at global design firm IDEO. For a generation that likes to stop responsibly and sustainably, the demand for transparency in everything from sourcing to production is sure to grow.
Eyeing the future
Surely there are more changes to come, but here’s what we can predict: Customization will continue to grow from all brands both big and small, with build-your-own palettes, and skin, hair care, fragrance, and makeup products created to be layered for a customized finish ("They’ll have to create more opportunities to mix and match," says Grant). The demand for natural formulas, sustainability, and information about ingredient safety will likely increase.
The hope is that this all leads to more more extensive results-testing, more transparency, and, finally, more effective products.
With Sephora and Ulta announcing plans for expansion and web-native brands like Credo and Birchbox continuing to set up shopping destinations, buying will most likely stay largely in the physical world — where the consumer will have more control and opportunities to play, try, and learn before they buy.
The hope is that this all leads to more more extensive results-testing, more transparency, and, finally, more effective products. As millennials continue to dominate the beauty-buying space, products that deliver on promises and live up to the hype created by social media campaigns will become more important than ever. After all, with a generation that buys with one groomed eyebrow raised, one disappointment could lose a customer’s trust for good.


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'One Million Moms', who last month went after JC Penney for hiring "open homosexual" Ellen DeGeneres as its spokesperson, has turned its attention to 'Toys R Us', threatening the toy chain with a boycott if it refuses to remove an Archie comics issue featuring the wedding of its gay character Kevin Keller from store shelves, Right Wing Watch reports.
'One Million Moms' is a project of the American Family Association, which has been designated a hate group by the Southern Poverty Law Center.
Toys 'R' Us employees do not actually set up the displays; they leave this up to the vendor, but they should be aware of the merchandise being sold in their stores nonetheless. These comic books are sold at the front checkout counters so they are highly visible to employees, managers, customers and children. Unfortunately, children are now being exposed to same-sex marriage in a toy store. This is the last place a parent would expect to be confronted with questions from their children on topics that are too complicated for them to understand. Issues of this nature are being introduced too early and too soon, which is becoming extremely common and unnecessary.
A trip to the toy store turns into a premature discussion on sexual orientation and is completely uncalled for. Toys 'R' Us should be more responsible in the products they carry.
Says the sample letter that 'One Million Moms' tells its followers to send to Toys R Us, in part:
"As a mother and a member of OneMillionMoms.com, I am extremely disappointed to learn that select Toys 'R' Us stores are now selling 'Archie' comic books with a same-sex wedding displayed on the front cover. I am referring to the ones where the front cover reads "Just Married" with two men marrying, one wearing a service uniform….Please remove all the same-sex "Just Married – Archie" comic books immediately from your shelves. My decision to shop in your stores depends on it."


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Raleigh UK will be the exclusive distributor of Met Helmets in the UK and Ireland from 1st March.
“We are thrilled to be partnering with Met in the UK market, bringing products of this calibre to our trade customers is an extremely rewarding experience,” said Raleigh UK brand manager Andrew Deacon.
“Met’s product portfolio offers an impressive range, covering the full spectrum from sports performance road and MTB helmets, through to its stylish Urban helmets and popular youth category. We’re confident that this new partnership will add incredible benefit to our trade customers and be well-received.”
Based in Italy, Met’s range includes the Trenta 3K Carbon as well as the Parachute MCR, which features exclusive technology in the Magnetic Chinbar Release that converts from full to open-face helmet and back.
“Our initial focus for the Met brand in the UK will be to develop a network of independent stores,” Deacon added. “Various support options will be available to assist the merchandising of products in-store and we’ll be following this up with a comprehensive consumer marketing campaign during the season to drive sell-through in stores.”
Jo McAleer, business development manager at Met, said: “Firstly we’d like to take this opportunity to thank our sales team who have helped us over the years with our direct business in the UK and Ireland.
“By partnering with Raleigh, Met stockists will have access to industry-leading logistics that will be fully supported by a strategic brand campaign. We are confident that this new collaboration will open up many opportunities to increase our retailer network and further establish our presence as a top cycling brand in the UK market.”
Stores are advised to contact their Raleigh area account manager or visit www.RaleighB2B.co.uk for further information.


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Mirroring our world focus in some ways, we additionally highlight activities within the native and world communities where we live and work. Tech News Tube just isn’t a giant truck however somewhat a universal app for iPhone and iPad. It is retina ready with full landscape support and built-in social media sharing. A Princeton University research presents approaches for bridging the participation gender hole in engineering classes.
Shares of Uber Technologies Inc. are up greater than 5% in premarket trading Thursday after The Wall Street Journal reported that the company has struck a deal to record all New York City taxis on its app. Qualcomm Incorporated includes Qualcomm’s licensing enterprise, QTL, and the vast majority of its patent portfolio. Qualcomm merchandise referenced herein are merchandise of Qualcomm Technologies, Inc. and/or its subsidiaries.
The Switzerland-based electrification and automation company stated the model new program would observe the completion of… Attend probably the most influential health conference and exhibition–where business gets done. Reimagine well being with important training, groundbreaking innovation and networking. Gap Inc. is experimenting with its digital attain, utilizing tech as a catalyst for industry change – each on-line and in stores.
RIT’s biomechanics lab is unusual in its concentrate on hitting as an alternative of pitching. Students and college from the train science program use high-speed cameras, movement capture technology, and different sensors to analyze the motions of baseball gamers as they swing the bat. Prof. Stuart Madnick writes for The Wall Street Journal about how flaws in a company’s cybersecurity defenses can result in cyberattacks.
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The Milanese showroom-turned-accelerator has taken a 46 p.c stake in the Tokyo-based brand development and inventive consulting agency. Founders Robert Greubel and Stephen Forsey, together with chief government officer Antonio Calce, are actually the shareholders of the model, Greubel Forsey said Thursday. Ukraine’s strength in technology and creativity have led to a burgeoning fashion-tech sector. I agree to the utilization of my personal information by Government Executive Media Group and its companions to serve me focused ads.


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A&P's closure to have rippling effect on supermarkets, communities
- A&P's cache of retail stores is one of the biggest to recently be offered for sale at one time
- Local officials and small business owners worry A&P locations might close if there are no buyers
When the news of A&P's bankruptcy plans to sell off all 300 or so of its stores was first made public, telephones across the region started ringing as supermarket owners and lawyers called to discuss what properties they and their competitors might be interested in.
"There's always initial concern about who's going to come in and how it's going to play out," said Joseph DeCicco, whose family owns about 10 stores under the umbrella of DeCicco Family Markets in the Lower Hudson Valley. "We take all competition seriously."
The transactions, which still await federal bankruptcy court approval, has sent ripples through affected communities as supermarket operators evaluate their options and municipal officials and small business owners wonder if all of the locations will find new owners or be forced to close. Their closure will leave gaping holes in the commercial landscape that might have broader economic implications.
"I don't want to be left with empty store fronts at these shopping plazas,” said Alex Gromack, town supervisor for Clarkstown where the A&P supermarket in Valley Cottage is among the stores up for sale.
Restaurants, recipes, more:lohudfood
A&P's cache of retail stores represents one of the biggest collections to recently be placed on the market all at one time, industry insiders said. In Westchester, Putnam and Rockland counties alone, A&P and its affiliates, including Pathmark and Waldbaums, own 31 stores -- 20 of which the supermarket chain officials said they had received sales bids and 11 others, including Valley Cottage, they were trying to find new buyers.
"It's unprecedented for us in this industry, in our area," DeCicco said of the sales prospects. "It's definitely a unique situation."
DeCicco said his family may be interested in acquiring some A&P locations but discussions are only in preliminary stages. Only three potential buyers have been made public so far, with Pennsylvania-based Acme Markets set to acquire a number of stores, including 18 Lower Hudson Valley locations.
"We focus on fresh, full, friendly and clean stores," Acme spokeswoman Danielle D'Elia said in an e-mail statement in which she declined to provide additional details about the possible deal. "We take great pride in providing really great stores that our customers love to shop.
Stop & Shop, which is making a bid for 25 A&P locations in New York and New Jersey, including the one in Mount Kisco, said this is the largest potential acquisition it's made since acquiring 36 Grand Union supermarkets in 2001.
"This is a huge opportunity for Stop & Shop," spokeswoman Arlene Putterman said.
But while some other supermarket players, such as Shop Rite, said they were looking at their options, other popular retailers, such as Wegmans and Stew Leonards, said they would not look to acquire any of the A&P locations.
"We're sitting on the sidelines," Stew Leonard Jr. said.
The bankruptcy filing is a long way from A&P's reputation only a few decades ago, Leonard said. When his father opened the family's first store in 1969, he bought a book on the grocery business that was required reading and prominently featured A&P as the industry's gold standard.
"We always looked at it as an American icon," Leonard said. "It's amazing to me to read this week about their bankruptcy."
Others grocers said A&P's demise has been foreshadowed for years. The chain initially filed for bankruptcy in 2010.
"They got so big trying to eliminate the competition, they eliminated themselves," Preston Turco, who owns and operates a Yorktown grocery store bearing his family name, said of A&P.
Turco, who described his store as more of a specialty market known for its prepared foods, said while in the past he put a bid in to buy a Grand Union and Finast, he's content with running a single location. He said when A&P announced its plans, he received a call from his lawyer who wanted to know if he was interested. The lawyer told Turco that supermarkets might not necessarily be the only ones interested in putting a bid.
Pharmacies that carry groceries and other retailers may show interest in the A&P stores depending on lease agreements that are in place and other sales terms, said food business consultant Dan Glickberg, an Irvington native and fourth-generation founding family member of Fairway Market.
Glickberg, who is no longer associated with Fairway, said he believes the A&P bankruptcy is "almost a non-story."
"A&P has not been relevant in the supermarket industry in a long time," he said, adding that he believes supermarkets are moving toward online grocery orders and those that relying on people coming to their stores such as A&P may be relics one day. "Online is going to be a bigger part of the business."
For now, though, community leaders and small business owners where A&P stores are changing hands or at risk of closing down if no buyers are found said they can't imagine a future without a supermarket.
Pathmark has been anchoring the Route 59 Rockland Center shopping mall, which includes Home Goods, Auto Zone, and MacDonald, for years. If the store were to remain vacant for long periods of time, its absence would affect stores in the 265,000-square-foot mall, particularly less-established businesses, said Damian Costanzo, manager of the 42-year-old Liquor Outlet in the shopping mall.
“Things are not that great because the economy is not that great. Everybody is trying to cut back,” he said. “I don’t think it’s good for some of the stores that are marginal, but we’ve been here longer than they’ve been here. … But you wouldn’t know how it affects you until it happens.”
Even communities, such as Greenburgh, where a buyer appears to have been found are a little on edge that the deal hasn't been finalized.
“There’s no supermarket in the immediate area. That’s the closest to a lot of people,” Greenburgh Town Supervisor Paul Feiner said. “People would have to drive much longer distance to get to a supermarket.”
His immediate concern is on how the store would make the transition. Feiner said he is drafting a letter to ACME, which has put a bid on the location.
“We’re welcoming them to the town. We’re offering to meet with them,” he said. “That Knollwood Road A&P has been the staple in the community for many, many years.”


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Ford Forms Autonomous Vehicle Company
Ford Motor Co. has created Ford Autonomous Vehicles LLC, a new organization charged with accelerating its autonomous vehicle (AV) business to capitalize on market opportunities. The company also detailed key organizational changes designed to improve its operational fitness and drive growth.
The carmaker is organizing its self-driving business into Ford Autonomous Vehicles, which will include Ford’s self-driving systems integration, autonomous vehicle research and advanced engineering, AV transportation-as-a-service network development, user experience, business strategy and business development teams. The new LLC-structured to take on third party investment-will be primarily based at Ford’s Corktown campus in Detroit and will hold Ford’s ownership stake in Argo AI, the company’s Pittsburgh-based partner for self-driving system development. Ford expects to invest $4 billion in its AV efforts through 2023, including its $1 billion investment in Argo AI.
Sherif Marakby, currently Ford vice president of autonomous vehicles and electrification, has been appointed CEO of Ford Autonomous Vehicles reporting to a board of directors chaired by Marcy Klevorn, Ford’s executive vice president and president of mobility. The closer alignment of the self-driving platform and the mobility solutions teams will allow faster development of businesses that can thrive in the pre- and post-autonomous vehicle worlds.
“Ford has made tremendous progress across the self driving value chain-from technology development to business model innovation to user experience,” said Jim Hackett, president and CEO, Ford Motor Co. “Now is the right time to consolidate our autonomous driving platform into one team to best position the business for the opportunities ahead.”
With Marakby’s move, Ted Cannis, global director, electrification, will lead Ford’s Team Edison, the team responsible for developing and bringing to market next-generation electric vehicles. Team Edison will continue to report to Jim Farley, executive vice president and president of global markets.
In addition, Ford is reorganizing its Global Operations division led by executive vice president Joe Hinrichs to include information technology as well as the company’s global order-to-delivery system, integrating the teams, technologies and processes from both across Ford’s production system. As a result, Jeff Lemmer, vice president and CIO, will report to Hinrichs.
This realignment will help the company accelerate the integration and application of technology across its industrial system to further streamline manufacturing, speed vehicle delivery times, reduce inventories and improve capital efficiency, according to Ford.
“The evolution of computing power and IT have helped bring great products to customers-from cars to tablets,” Hackett said. “We can now harness this technology to unlock a new world of vehicle personalization, supply chain choreography and inventory leanness that rivals any industrial model in the world-and Joe’s challenge is to help us redesign this system to do just that-while better serving customers and dealers and improving our overall fitness.”
All of Ford’s organization changes are effective Aug. 1.


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Aliso Viejo-based Valeant Pharmaceuticals is set to acquire Private Formula International Holdings Pty Limited. Under the agreement, Valeant will pay $69 million at the closing of the deal and will issue 162,500 shares of its common stock.
It's yet another big move for the firm, which manufactures neurology and dermatology products: Valeant also is paying $115 million to buy out all current and future income from former Dow Pharmaceutical Sciences Inc. stockholders pertaining to all out-licensed and pipeline products. Valeant bought Dow earlier this year.
With the newest acquisition, Valeant will get global rights to Dr. LeWinn's brands – the highest-selling skincare brand in Australian pharmacies – as well as Hissyfit and Revitanail, which is known as Renunail in the U.S. Dr. LeWinn's is distributed in more than 2,500 pharmacies throughout the country and has current annual sales of $27 million.
NEXT PAGE >>
Aliso Viejo's Valeant buys out stockholders
Aliso Viejo's Networks in Motion expands worldwide
Seal Beach's Clean Energy set to acquire BAF Tech


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Langton Capital – 2019-11-05 – Hubris, consumer spending, McD, Staycity, Shake Shack etc.:
Hubris, consumer spending, McD, Staycity, Shake Shack etc.:
A DAY IN THE LIFE:
So, now that Halloween and Bonfire Night are pretty much in the rear-view mirror, the shops will be having it that it’s Christmas tomorrow.
In fact, one can almost feel the ‘seasonal aisles’ being stripped of their cobwebs, skulls and pumpkins and re-dressed in the garish red and silver tinsel that seems to be associated with the upcoming, much-longer, festive period.
And, as any kid will tell you, it’s 50dys from Bonfire Night to Christmas Day and, as it’s th3 5th of November today, that means Xmas Day (and therefore New Year’s Day) will be a Wednesday.
Which is pretty good news for the UK’s pubs & clubs as, without wiping out an existing weekend, we could be persuaded to pack another weekend-type drinking session into a Monday and a Tuesday meaning that the transfer of cash from the consumer to the pubs’ tills could be a little more acute than usual.
So, we’d better get saving up then. On to the news:
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GENERAL NEWS – PUBS & RESTAURANTS:
• UKHospitality has called on the Government to help employers reduce wage costs by scrapping National Insurance Contributions on the first £12,000 of earnings. UKHospitality Chief Executive Kate Nicholls said: ‘We certainly want our fantastic team members to be rewarded fairly for the great work they do. We pride ourselves on being the UK’s foremost experiential sector and the great people who work in our venues are a huge part of the reason we succeed’.
• Barclaycard has reported that consumer spending grew by 1.5% in the year to October, slightly below the rate of general inflation. The company says that spending on ‘essentials’ rose by just 0.2%.
• Barclaycard reports that supermarket spending was up by 1.5% but spending on fuel was down by 3.9% year on year.
• Spending on non-essentials was up by 2.0% but Barclaycard reports 22% of respondents saying that they were spending less than usual on leisure activities and evenings out. Spending on entertainment fell by 3% in the month.
• Barclaycard reports that spending on food and takeaways was up by 6.9% in October versus the same month a year ago. It says pubs and clubs saw sales rise 5.5% in the month. Barclaycard says ‘ongoing economic uncertainty combined with a bleak start to autumn led many Brits to stay in rather than spend out last month, choosing takeaways and evenings at home over socialising at bars or restaurants.’ It says ‘as we head into the festive period, shoppers are also feeling cautious about their finances with many expecting to spend less than normal this Christmas.’
• Shares in Shake Shack fell by more than 15% yesterday as the company updated on sales trends. The company’s Q3 numbers beat expectations but it reduced guidance regarding the outlook.
• Shake Shack reported revenue up 31.9 per cent from a year ago to $157.8m in the Q3 with earnings at 31c, up from 17c a year earlier. However, the company downgraded its forecast for LfL sales growth to 1.5% from the 2% to which the market had previously been guided.
• Shake Shack CEO Randy Garutti said ‘this has been the biggest development year in Shack history as we’ve grown our presence around the country and internationally in the new markets of Mainland China, Singapore, the Philippines and Mexico. In 2020, we will continue to expand even further within key domestic and international markets.’
• US coffee trader Sustainable Harvest has acquired the contracts and trading team of Twin Trading, the UK non-profit coffee trader that closed its doors last month.
• The BRC reports that UK shoppers spent some 0.6% more this October than they did in the same month last year.
• The Fuller’s pub The Conductor has teamed-up with Sipsmith, the gin distiller, to open a pop-up Victorian Hot Gin Bar.
• Complaints of food poisoning, allergic reactions and foreign bodies found in food increased by 55% last year in December. David Bashford, Managing Director – Food Alert, said: ‘While Christmas is a critically important trading opportunity for operators it can also pose a risk from a food safety perspective. Maintaining standards during the Christmas rush is difficult and all it takes is one minor mistake and the consequences can be enormous’.
• The first compostable one-cup coffee pods from a major group, Lavazza, will go on sale this week. It is estimated that 20bn one-cup coffee pods are consumed globally each year.
• Puttshack will open its new site at 1 Poultry in Bank on the 22nd November, featuring three 9-hole courses with capacity for 650 people.
• Severance pay for former McDonald’s CEO Steve Easterbrook will be at least $675,000 and will include a more restrictive two-year non-compete clause than his existing employment contract.
• The Inn Collection Group has received planning permission for a 40-bedroom pub on Sunderland’s seafront. Sean Donkin, managing director of The Inn Collection Group, said: ‘The Inn Collection Group has a proven track record in delivering purpose-built inns operating on a model that provides value for money accommodation, quality beverages and home-made pub fare served all day, 365 days a year to local people and visitors’.
• In the US a major study into whether calorie labeling on fast food menus reduces the amount customers purchase has found that it does. The research group, BMJ found that the positive effect ‘diminished’ over one year of follow-up.
• The All-Party Parliamentary Group for Hospitality claim a digital services tax will not be enough to solve the pub sector’s problems on its own. Pub trade bodies have said the Government must ensure revenue from a tax on online businesses is used to reduce the burden that the sector faces from business rates.
• Rabobank reports new US tariffs introduced on EU goods are likely to push up prices for French and Spanish wine by around 10-15%. The US market accounts for around 18% of France’s wine exports, and around 12% of Spain’s.
• Pret is trialling scan & go technology provided by SFD Systems, allowing customers to pay for their food and drink using electronic shelf-edge labels.
HOLIDAYS & LEISURE TRAVEL:
• Aparthotel operator Staycity is to open its Edinburgh Grassmarket site on 2 December. The group has now opened its first site in Germany, in Berlin at the former Checkpoint Charlie crossing point, with the group’s CEO Tom Walsh saying ‘one of the key prerequisites for Wilde [its premium hotels] is that they’re central to the heart of the city. Both the Berlin and Edinburgh properties are in stunning locations with the best each city has to offer on their doorstep. It’s exciting to see the Wilde brand taking shape as we add to the estate.’
• Staycity now has 500 apartments in major UK cities and 850 apartments in Germany.
• The Business, Energy and Industrial Strategy Committee has accused business secretary Andrea Leadsom and her department of showing ‘an extraordinary lack of interest’ ahead of the collapse of Thomas Cook. The committee also issued a damning verdict of mismanagement by successive bosses.
• Egyptian tourism generated £9.91bn in revenue in 2018-19, despite UK flight restrictions to one its key destinations, Sharm el-Sheikh. The Foreign and Commonwealth Office lifted its restrictions on flights between the UK and Sharm el-Sheikh on October 22.
• The UK’s top long-haul inbound tourism markets are the US, Australia and India, the same as the year before. Strong growth has been recorded from several countries, most notably Bangladesh, up 32.5%, China, up 19.8% and Taiwan, up 16%.
• Saga will build its first river cruise ship, Spirit of the Rhine, set to launch in spring 2021. The 95-cabin ship will sail on European rivers, with room for 190 passengers.
• Some major investors in Uber will be free to sell stock on Wednesday as a lock-up period is due to expire. The news has sparked concerns of a slump in its share price.
• Marriott has reported Q3 numbers saying that it added 17.7k rooms in the quarter but adjusted net income fell by 18% to $488m. Adjusted EBITDA was flat at $901m. The group earned a diluted 116c per share compared with 143c in the same quarter last year.
• Marriott CEO Arne Sorenson comments ‘it’s been just over three years since the completion of the Starwood acquisition. In that time, we’ve realized meaningful synergies, enhanced guest satisfaction, and recycled more than $2.2 billion of assets.’ Sorenson says ‘our worldwide comparable systemwide constant dollar RevPAR increased 1.5 percent, consistent with our guidance, while our global RevPAR index rose 210 basis points. Our sales organization is hitting its stride.’
• Regarding the outlook, Marriott says it expects systemwide REVPAR in Q4 to be flat to up 1%.
• A report released by a cross-party MPs recommends a maximum stake limit similar to the £2 limits imposed on FOBTs for online casinos. The report also recommended an end to betting by credit card and restrictions on “VIP” accounts.
• The above report, recommending a £2-per-bet limit on popular online games by the Gambling Related Harm All Party Parliamentary group sent shares in Britain’s biggest betting companies down on Monday.
FINANCE & ECONOMICS:
• The IHS Markit UK Construction PMI for October rose to 44.2 from 43.3 in September. Any number below 50.0 implies contraction. Markit says ‘UK construction companies experienced a downturn in business performance during October as political uncertainty and subdued economic conditions again combined to hold back sales.’ It goes on to say ‘there are clear signs that construction firms are positioning for an extended soft patch for project starts.’
• The much larger services PMI is due out at 9.30am today.
• Sterling lower at $1.288 and €1.1575. Oil up at $62.31. UK 10yr gilt yield up 6bps at 0.72%. World markets higher yesterday with Far East up in Tuesday trade.
• Brexit & politics.
o Deputy speaker Sir Lindsay Hoyle promoted to the top job.
o FT points out that both political parties are promising a spending splurge that will see government expenditure back up to 1970s levels. Cambridge Economics reports ‘it’s very rare in an election that the political parties are competing with each other to spend more money . . . you probably have to go back to the mid 1960s to find the last time that happened.’
START THE DAY WITH A SONG:
Yesterday’s song was Do You Remember the First Time? by Pulp. Today, who sang:
“You don’t want to hurt me,
But see how deep the bullet lies
Unaware I’m tearing you asunder
Ooh, there is thunder in our hearts”
RETAIL WITH NICK BUBB:
• BRC Retail Sales for October (the 4 weeks to Oct 26th): We flagged yesterday that the overnight BRC Retail Sales survey (which remains the most reliable guide to monthly High Street trends for major retailers) was likely to be a bit brighter, with a better month for Fashion likely to push overall Non-Food sales over the line, despite “big-ticket” spending weakness. And the total October outcome was indeed a better-looking +0.1% LFL (after -1.7% LFL in September). The exact Food/Non-Food LFL sales split for October is, as usual, buried in the 3-month moving averages of +0.5% and -1.8% respectively, but it looks like Food was a bit disappointing and was only just up LFL and that means that Non-Food must have been no worse than flat LFL last month…Demand for Clothing and Footwear was certainly boosted by the more autumnal weather and increased discounting, but Household Appliance and
• ABF (Primark): The giant food conglomerate ABF has reported its final results today (for y/e Sept xx) and the big focus is, as usual, on the performance of mighty Primark, which notched up a chunky operating profit of £913m (up 8%) on sales of just under £7.8bn (up 4%). The operating margin of 11.7% was better than expected, with the impact of a stronger dollar largely offset by lower mark-downs and better buying. LFL sales were down by 2%, with the weak trading in Germany called out (as it has prompted a change of MD there). UK sales were 1% down LFL, but Primark say that still represented outperformance against the market. Most of the big store openings in the new-year will be in Spain and France, but one UK highlight will be the Primark opening in the Trafford Centre in Manchester in March.
• Topps Tiles: Out of the blue, Topps Tiles has announced that Matt Williams, the CEO, has decided to step down at the end of the month, following the announcement of the full year results. Rob Parker, the long-serving CFO, will be appointed as the new CEO from the same date. There is no clue as to what Matt Williams wants to do next, after 12 years running Topps, but he says in the statement that “It has been a really tough decision to leave Topps but I feel now is the right time for me to pursue a new challenge”.
• News Flow This Week: Tomorrow brings the much-awaited Marks & Spencer interims and the Intu Properties Q3 update. Then a busy Thursday brings the Sainsbury interims, the Halfords interims, the Inchcape Q3 update, the Superdry pre-close, the Howden update and The Works’ pre-close update.
TRADING STATEMENTS & EVENTS:
Upcoming results are set out below:
• 4 Nov 19 Shake Shack Q3 numbers
• 5 Nov 19 Marriott Q3 numbers
• Est 7 Nov 19 JD Wetherspoon H1 update
• 7 Nov 19 Bank of England MPC interest rate decision
• 12 Nov 19 G4M H1 numbers
• 13 Nov 19 Coca Cola HBC Q3 update
• 14 Nov 19 Young & Co H1 numbers
• 20 Nov 19 SSP FY numbers
• 21 Nov 19 William Hill Q3 update
• 21 Nov 19 DART Group H1 numbers
• 21 Nov 19 Hotel Chocolat AGM
• 27 Nov 19 Marston’s FY numbers
• 27 Nov 19 Britvic FY numbers
• 27 Nov 19 On the Beach FY numbers
• 28 Nov 19 Greene King H1 numbers
• 3 Dec 19 Gym Group analysts site visits
• 4 Dec 19 Loungers H1 numbers
• 4 Dec 19 Stock Spirits FY numbers
• Est 6 Dec 19 EasyHotel FY numbers
• 12 Dec 19 TUI Group FY numbers
• Est 12 Dec 19 Fulham Shore H1 numbers
• 12 Dec 19 Fuller’s H1 numbers
• 12 Dec 19 Vianet H1 numbers
• 13 Dec 19 Hollywood Bowl FY numbers
• 19 Dec 19 Bank of England MPC interest rate decision
LANGTON CAPITAL: Made in Hull. Like all the best things. Langton Capital is a financial advisory company providing insightful views on the UK and global leisure industry and the wider consumer sector in general. Subscription to the daily email is free. Unsubscribing is painless. We provide daily off the shelf and bespoke research. We have helped with transactions, fund-raisings, disposals and other corporate issues. We have a good ear, we are impartial, independent and not half bad at what we do. If you think that we could help you or your business, drop us a line.


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What Exactly Can Candidates Do With Their Campaign Cash After Election Day?
With less than six weeks before the general election, candidates are burning through their campaign cash to make that final push to win. But, when the race ends, some still have money left in the bank.
So what are lawmakers allowed to do with that money?
The overriding rule seems pretty self-explanatory and fairly specific. Candidates and lawmakers may not spend campaign contributions for personal use or benefit: simple and straightforward. Still, according to Craig McDonald, the rule is broad and undefined.
“Our criticism of the looseness of the rule around campaign money has been that there really is no specific standard in what personal use means,” he says.
McDonald heads up Texans for Public Justice, a follow-the-money political watchdog. He says lax oversight on how campaign money is used is particularly concerning when you consider how much office holders spend in non-election years.
"The average House member in a non-campaign year spent about 30-thousand dollars in his or her campaign fund on other incidentals,” he says. “Not campaign ads, not consultants. But on travel, books, campaign contributions to others…a whole array of expenses.”
For state senate that amount jumped to $85,000. Statewide officials spent almost $400,000. But campaign finance attorney and former chair of the Texas Ethics Commission Ross Fischer contends there's plenty of help to make sure lawmakers are spending that money correctly.
“There's a lot of guidance out there from the Texas Ethics commission because people over the years have requested advisory opinions about whether a certain expenditure constitutes a conversion to personal use,” he says.
And, sure enough, a quick trip to the Ethics Commission website brings us to a long list of commission opinions on how lawmakers can and can't spend campaign funds.
“It seems like everyone wants to pay for their dry cleaning once they're elected,” Fischer says. “So that's one issue that I remember coming up over and over was, can I now pay for my dry-cleaning with my campaign funds. And the answer to that is no.”
Meals in Austin not connected with state business, family recreation or entertainment, and medical needs are also on the no-go list. The "permissible use" list is about five times as long. Can a candidate pay for their spouse to travel with them on official business? Yes. If you need Spanish lessons because your district has a large Hispanic population that can be paid for with campaign donations, too. How much can you spend on those lessons of that plane ticket? That’s where things get fuzzy again. McDonald and Texans for Public Justice say problems arise because there is no oversight on how much is spent.
“Yes you can use your campaign money to fly to a conference,” he says. “Do you have to fly coach, or can you charter a jet? You can do both! And there's no one really overseeing it.”
Same thing goes for car rental or other items used in official capacity. Why rent a Ford Focus, when it's perfectly legal spend campaign money on the Mercedes coup.
“The real problem with this is that lifestyle money is coming from special interests who want favors out of you,” says McDonald. “That money is essentially going right into your pocket. When you can use that campaign money not to buy a campaign ad, but to buy a case wine or go out to dinner every night, that's a real personal benefit to you. And that's what makes the system so pernicious.”
McDonald says he and other campaign finance reformers have been trying to get tougher restrictions through the legislature for a while now. But, he says, many lawmakers don’t seem eager to change a system that benefits them.


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New Frontier Data, an investigation firm, released a new report concerning the impact of introducing cannabis to the pharmaceutical industry. Giadha Aguirre De Carcer, the firm’s CEO, commented on the issue in an article by Civiled, stating
“If cannabis somehow managed to be adopted nationally, we would start to see a pattern of patients turning to medicinal marijuana as a substitute or a sequel to pharmaceuticals”
The report addressed nine medical conditions that could be treated by cannabis effectively. These conditions include glaucoma, Tourette syndrome, epilepsy, nerve pain, anxiety, and post-traumatic stress disorder. Meaning, it may not always be effective to treat these conditions with pharmaceutical drugs.
The report also delved into a 2016 Health Affairs study, which found that states that had legalized marijuana had an 11 percent reduction in drug prescriptions. The report then addressed what it estimates the drop would be if marijuana were to be legalized nationwide. Ultimately, it estimated that cannabis and related products can replace $4.4 billion to $4.9 billion per year of the money spent on existing treatments. Aguirre de Carcer added,
“However, when you start to break down the numbers by specific sectors of the industry, like chronic pain or symptoms associated with chemotherapy, which are very lucrative markets for pharmaceutical companies, you will certainly see cannabis have a major impact.”


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Sony said Thursday that hackers accessed about 400 names and email addresses of its mobile customers in China and Taiwan, but that no credit card or banking information was compromised.
The company said it became aware of the hack several days after a message was posted on the popular text-sharing website Pastebin by a group called "NullCrew" claiming to have accessed Sony servers and listing logins and email addresses.
Sony said the information was taken from at least one server run by a third-party service provider based in China. The company is still investigating the details of the breach, but it appears no servers operated directly by Sony were compromised, company spokesman Hiroshi Okubo said.
"We became aware of the incident late last night or early this morning," said Okubo, referring to Japan time.
The information was on customers of Sony Mobile Communications, the company's mobile arm, in the Asian countries.
The message posted on Pastebin on Sept. 3 claims to have hacked Sony Mobile and lists hundreds of what appear to be login IDs and email addresses from the company's site.
"Sony, we are dearly dissapointed in your security. This is just one of eight sony servers that we hve control of," it reads.
The Japanese electronics firm, which is pouring resources into expanding its online services, was the target of several large-scale attacks last year.
In October, the company suspended 93,000 user accounts on several of its gaming and entertainment networks after a large number of unauthorized login attempts on those accounts.
In April, Sony was the victim of a massive attack on its online properties, in which 100 million accounts were stole from company databases. The company shut down several networks for a month and a half.