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LVMH private equity arm buys luxe bike brand Pinarello
The cycling sector got a major new impetus this week as L Catterton, the private equity arm of LVMH acquired control of premium cycling brand Pinarello and vowed to expand both its bikes and its apparel/accessories offer.
Italian company Pinarello, founded in 1952 by Nani Pinarello, is a world leader in the design and manufacturing of competition bikes, bike frames and accessories. The L Catterton (formerly L Capital) private equity fund, the world's largest in terms of consumer-focused investment, acquired a stake in the manufacturer's holding company, Pinarello Holding.
Fausto Pinarello, President and CEO, will continue to manage the business from the HQ in Treviso, Italy.
The new shareholders' primary objective is to expand the Pinarello business globally, also by opening new Pinarello concept stores in some of the world's key shopping cities and maximising opportunities in cycling apparel and accessories as well as the bikes themselves.
The brand is regarded as the Ferrari of competition cycling, and news of its acquisition chimes with FashionNetwork's report last week about LVMH's rumoured expressed interest in British premium cycling wear and accessories brand Rapha.
For the 2015/16 fiscal year, Pinarello Holding reported revenue of €52 million, 90% of which came from outside Italy. The company is present in more than 50 countries and has over 50 employees. Its output is 30,000 units per year between bicycles and bike frames, and its R&D investment is equivalent to 4% of revenue.
“Pinarello has posted double-digit growth rates for over 10 years. We will continue to strengthen the brand globally," said Michael Farello, Managing Partner of the L Catterton North American Growth Fund.
"L Catterton's unparalleled experience in high-end brands and its in-depth market knowledge make it the ideal partner to support Pinarello's development... fostering new growth opportunities while remaining solidly grounded in our roots and always capable of creating innovative products of the highest quality," added Fausto Pinarello.
The Pinarello brand is a record 12 time-winner of the Tour de France, the latest victory in 2016 being with British rider Chris Froome for Team Sky. It also won the Giro d'Italia five times, a World Road Cycling title in 2013 and three Olympic gold medals on road and track.
L Catterton was created in 2016 as a partnership between Catterton, LVMH and the Arnault group. It operates a series of private equity funds from 17 offices worldwide. In fashion, luxury, beauty and retail distribution, it has invested in Frederic Fekkai, Ba&sh, Sandro & Maje, Giuseppe Zanotti, Gant, Pepe Jeans and Hackett, Emperor Watch and Jewellery, the Miami Design District and G6 at Ginza-Tokyo.
Copyright © 2023 FashionNetwork.com All rights reserved.


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The Government's plastic bag ban could cost jobs, says E tū.
Single-use plastic bags will be banned in New Zealand and are to be phased out over the next 12 months, the Government said on Friday.
Retailers rushed to support the ban with many like Countdown, Foodstuffs and The Warehouse already having plans to phase out plastic bags from their shops and supermarkets.
E tū - one of the country's largest private-sector unions, supports the move but its industry co-ordinator Ron Angel told RNZ the transition needed to be fair on workers.
AdvertisementAdvertise with NZME.
He believed a few hundred workers were involved in manufacturing plastic bags in this country.
"I think there's enough time for there to be a transition, most manufacturers make a wide range of other products and they will have an opportunity to change their product line and that sort of thing but it is difficult - one day they're making plastic bags for supermarkets and now they're begin told you have to stop within a few months," he told RNZ.
"It's not huge numbers but every job loss is a job loss and it affects that worker, their family and their community."

domain: news


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If a marathon is a test of physical limits, then a Hackathon is a test of mental limits. With limited time and technological resources, participating teams conjure up wild startup and product ideas. TechCrunch, an influential media outlet covering tech trends in Silicon Valley, has long believed Hackathons play an integral role in fostering entrepreneurship […]
Collaborating with tech startups allows the retailing giant’s China operations to experiment with solutions for market-specific “pain points.”
The fifth edition of TechNode’s ORIGIN conference is set to go virtual on Nov. 18, 2020.
From over 300 participants and 66 teams of the adult division of the TechCrunch Shanghai hackathon, emerged 10 outstanding teams that have impressed the judges with their creativity. Relive the 24 hours of TechCrunch Shanghai hackathon at our live blog. The top 10 placing teams are as below: 1st – Reboot Rebels 2nd – Super […]
This conference will be the first in Malaysia to unite all in the tech and business ecosystem.
While Bytedance breaks through in the West, many Chinese peers focus on the developing world.
The video above is hosted on YouTube. Please note that VPN is required if you are in China. Tim Castell once said, “Innovation is not just about having an idea, it’s about executing on it to create value.” The three keywords are thought, execution and value creation. Today, we live in a rapidly changing world. […]
Anyone who has been to a tier-1 Chinese city will probably have come across the long queues in front of stores throughout the city. People call them “wanghong” (网红) stores, borrowing the Chinese term for internet celebrities to illustrate the businesses’ offline virality. “There’s not much innovation coming out of the online retail space anymore,” Partner at Sequoia Wang […]
Consumers are moving almost too fast for retailers to keep up.
AHB received over 600 applications from across nine countries in Asia.


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The outpouring of good will for Japan has been enormous across the board--but there is still a lot of work to be done. One thing that really struck me was how right as the earthquake hit and during the immediate aftermath, the Marc Jacobs Twitter has shown particular concern for their employees in affected areas. Since the earthquakes and tsunamis hit Japan, clothing companies like UNIQLO, Levi's, Coach and American Eagle have donated millions of out-of-pocket dollars to the relief efforts, while many others are teaming up with charities to help raise money. Fast Retailing Group, the company that owns UNIQLO, g.u., Comptoir des Cotonniers, Princesse tam.tam and Theory in particular has been doing amazing things to help the disaster victims, its CEO personally donating far more than the company and all its employees combined. Uniqlo and Theory also have clothing donation boxes set up in their retail stores and Fast Retailing is donating tens of thousands of garments from their lines.
Designers and retailers are also creating charity incentives to shop, many donating 100% of proceeds of overall sales and the sale of special items to relief efforts. We've compiled just some of the shopping opportunities where you can help Japan while getting a little something back.
Click through to see:
Opening Ceremony for Japan Tees - $30, OpeningCeremony.com
Simply designed and shot at OC's NYC headquarters, every cent of the proceeds will be donated to the American Red Cross. OC's website also has a banner atop their website that links directly to the Red Cross site for additional donations.
From March 21 - 25, the jewelry line will donate 100% off all sales on their online store to Catholic Relief Services, plus 100% of sales at any Alexis Bittar retail stoer on March 24.
Note: Catholic Relief uses 93% of donations directly for the relief effort
Today only (March 18), 100% of online sales will go towards Japan relief efforts.
Stussy x Fragment Design One World One Love One Heart Tee - $36, Stussy.com
In collaboration with Hiroshi Fujiwara, Stussy designed a tee where a "majority" of the proceeds will go to the Japan Red Cross. Currently available for pre-sale.
MWJ is an independent multi-arts project with the goal of conveying Japanese culture and with activities and Japanese-inspired creatives. 100% of sales of their hand-screened t-shirts will go directly to organizations directly involved with the Japan relief effort. Currently shirts are sold out, but you can pre-order more via the contact page.
A really cute idea, $100 from the sale of any red bag from their online store will be donated to the Red Cross.
Rising Sun Tee - $20, Karmaloop.com
100% of proceeds from the sale of this style will be donated to The Red Cross. Currently available for pre-sale.
You can still donate directly to The Red Cross online or simply texting REDCROSS to 90999 will donate $10. It's almost surreal to see a country endure tragedy after tragedy in a matter of days the way Japan has and we all need to do out part to help.


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Three Rooms is closing at 4388 France Ave. S.
“I have very mixed emotions about it,” said owner Patty Burrets. “I’m not quite ready for this, but it’s happening. … For 46 years I’ve been doing this.”
With the departure of her neighbor Brightwater Clothing, which was replaced by office space for Evereve, Burrets said it’s proven challenging to be the only retailer in the building.
She opened Three Rooms with seven other women in 1971.
“In that day and age women stayed home and dressed the kids and fed the kids,” she said. “And we were out there out on our own.”
Merchandise is discounted until July 16, with a party following the close of business. Burrets said it’s going so well, she jokes they should have staged a continual going-out-of-business sale.
“It’s a good way to go out,” she said.


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Carmakers around the globe are rushing to introduce electric vehicles, hoping to take advantage of strong demand for what is considered a more climate-friendly alternative to the internal combustion engine.
Tesla, the market leader, sold over 300,000 electric vehicles globally in the first quarter. Volkswagen hopes to overtake Tesla on sales of electric vehicles by 2025. General Motors has announced that it will be all electric by 2035. And Ford has seen strong early demand for its Lightning, an electric version of its popular F-150 pickup truck.


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Thousands of cars are now entering Türkiye after DP World Yarımca introduced an innovative ‘cars in containers’ shipping solution that has helped solve an automotive supply chain crisis in the region.
Congestion at Turkish ports has resulted in significant delays in delivering new vehicles against a backdrop of skyrocketing demand in the burgeoning automotive market. Türkiye recently experienced an auto sales boom with a record 110,000 vehicles sold in June which is a 37.5% year-on-year increase, according to data from Automotive Distributors and Mobility Association (ODMD).
With traditional importation and shipping solutions via ‘roll-on roll-off’ (RoRo) ships facing significant delays due to congestion at RoRo ports, car manufacturers were unable to make timely delivery on purchases. This left customers waiting significantly longer for their new cars and caused prices to inflate across both the new and used vehicle markets.
Using an alternative solution to help make more cars flow into the country more quickly, DP World began importing 10,000 vehicles by putting new SUVs from Chinese automaker Chery Automotive into containers. This meant the vehicle could be offloaded using traditional cranes at lift on lift off (LoLo) ports and did not require a specialised RoRo port or berth, resulting in a significantly more efficient and resilient route to market.
The solution became more feasible when DP World and Chery implemented a specially designed racking arrangement to increase capacity by loading three SUVs into each container instead of two, which helped to improve the cost efficiency of transporting vehicles from China to Türkiye and reduce the cost passed on to consumers.
The feasibility of the solution also made Yarımca an important steppingstone for the shipment of Chery Automotive vehicles into the booming Turkish auto market.
With Chery keen to expand its presence in Europe, the cars in container solution is set to be a key part of how it will deliver vehicles to market.
– When we describe DP World to the outside world we often say we are a global smart trade enabler – this solution is an innovative example of what we mean by that – said Rashid Abdulla, CEO & Managing Director, DP World Europe.
– The automotive industry has experienced significant changes and supply chain challenges in the last few years globally, and in Türkiye that ranged from microchip to RoRo capacity shortages. I’m proud that our team could implement an alternative solution that helped to ease these challenges – and that we played a key role in the expansion of Chery Automotive into the Turkish market.
Kris Adams, CEO of DP World Yarımca: “Our terminal at Yarimca, which has not traditionally moved vehicles, is now becoming a key hub for new vehicles entering the market. The new innovative solutions we have introduced will help Chery Automotive to establish itself as a significant supplier in this market and in neighbouring countries, offering economic benefits to Türkiye while also helping consumers get their new cars more quickly.”
DP World Yarımca provides seamless connectivity to its customers and partners with an annual handling capacity of 1.15 million TEUs.


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Technology can make your life easy or difficult, depending on your perspective. History has shown that difference of perspectives can grow huge and sometimes even lead to wars. The tech battles mentioned here do not involve fist-fights and explosive ammo, their weapons are legal reasoning, public support and user dependencies. Here are some of the biggest tussles of the tech industry in 2010:
To put it simply, China wants Google to censor search results but Google isn’t ready to. They say they would rather leave their $600 Million annual revenue coming from China than compromise on freedom of speech. China doesn’t seem to care and it is probable that Google will exit from China, but it’s not over till it’s over!
There are other smart phones too but these two are the giants and want to take each other out. We have already seen lawsuits from Apple targeting HTC, the main manufacturer of Google’s Android based phones. So, even though it is a fight between two smart phones, it becomes very serious because of the companies behind them, Google and Apple.
Kindle was released quietly a couple of years ago and has gained a solid ground in the e-reader market. The iPad was launched with a lot of hype which turned into a let down for users. Launching soon, iPad will directly take on the Kindle and with both allowing third-party apps, the competition will be tough.
HTML5 slowly crept into many platforms this year and threatens to take over Flash. Adobe is naturally angry and heated arguments are ensuing all over between the advocates of HTML5 and that of Flash. Within next few months the picture might get a little clearer as to where Flash stands vs. the new technology. Specially with Apple shunning Flash from its upcoming iPads, Flash better get its act together to stay in the game.
2009 saw a new breed of location based social networks. Top two players are FourSqaure and Gowalla and they are fighting it out pretty aggressively. When Gowalla launched an updated iPhone app, FourSqaure didn’t take many days to follow path.
The parent companies of these two, eBay and AliBaba, fought it out a few years ago and AliBaba beat eBay hands down when it came to the Chinese market. Now, PayPal is trying to get a stronghold in the Asian market but it is up against the already established AliPay.
Mozilla and Google are fiercely after cutting down Internet Explorers long established market share and they are coming pretty close. Google doesn’t care if somebody uses Firefox or Chrome (it supports both), all they want is Internet Explorer to disappear. A massive campaign was launched recently against IE6 but Microsoft’s latest browser IE8 seems to be pretty tough when it comes to security features.
Google Docs was quickly adopted because of its Cloud based technology but with Microsoft also moving towards the cloud and a lot of third party add-ons available to the desktop based Microsoft Office, the competition is far from over.
This one is not a true war of technologies but its outcome may change the online video industry forever. The case is going on in the court right now. Expect to hear some historical decisions within the next couple of months.
Apple has been notorious about its vague and ridiculous app store policies. Developers hate it, but as of yet they can’t seem to do anything about it. IPhone app store is still a pot of gold that want to get a chunk of. Will this change in the next few months? May be.
What do you think will be the outcome of each of these? What other tech wars can you think of that are going on in the current year?


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A two-day fashion show organised at Maharaja
Kameshwar Complex recently saw models walk the ramp in flamboyant drapes and elaborate accessories. The show was a riot of colours and intricate designs in ethnic wear. And those present at the venue, which was chock-a-block
with spectators, clapped for and cheered on everyone who walked down the runway.
Besides the models, a few celebrities were also invited to walk the ramp. The show, which featured collections of several famous designers, featured Mr World Rohit Khandelwal
and Bigg Boss contestant Arshi Khan as showstoppers. Speaking to us after the event, Arshi Khan said, “This is my second visit to Patna. I really like the people of Bihar
, as they are very friendly. This time, I will make sure that I relish the famous litti-chokha in the city.”
The final-year students of IIT Dhanbad
promoted their Khadi designs towards the end of event. Everyone was excited to see the college students walk the ramp with grace, confidence and charm. The final walk featured a collection of Bhagalpuri silk garments.
Deepika Kumari, one of the hundreds of girls sitting in the audience, told us, “It was a different experience altogether and a great joy for me to see models and celebs walking the ramp. My friends and I were cheering for all participants in the show to boost their confidence.”
Sharing similar views, Twinkle, a college student, said, “The best part of the show were the designs exhibited by the IIT students. They promoted Khadi and Bhagalpuri silk so well and so confidently! This will encourage handloom weavers as well as Khadi sellers to promote their products better.”


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Here’s your morning roundup of the biggest marketing, advertising and media industry news and happenings. Send tips, suggestions and complaints to email@example.com
SIGN UP: CMO Today, straight to your inbox:http://on.wsj.com/CMOTodaySignup
NBC’S LOOSE RATINGS GRIP: NBC has won the ratings race in the 18-49 demographic the last two seasons. So why does its reign feel tenuous? Perhaps because NBC hasn’t had a breakout hit in a few years and relies on “The Voice” and “Sunday Night Football” to prop up its numbers, as The Wall Street Journal reports. Sports rights aren’t cheap and reality shows don’t last forever, so every network needs new hits to compete with each other and streaming services. NBC could really use a show like the intriguing “Blindspot” to pop among viewers. Really, so could any of the big broadcast networks, which is why they are promoting their new shows like crazy, as CMO Today reports. But critics are lining up to dump on the fall crop of shows, which Grantland called the “worst fall season in modern television history.”
IAB CHIEF ON AD BLOCKING: Over the past few months, the drumbeat surrounding the growth of ad-blocking software and what that means for the very future of digital advertising has been relentless. It started with an alarming report claiming that the ad industry could lose upwards of $20 billion, then the noise reached hysteria levels last week when Apple released its new mobile software update that allowed for multiple ad-blocking apps. Now, the Interactive Advertising Bureau’s chief executive Randall Rothenberg is speaking out, and his comments may surprise you. In an exclusive interview with CMO Today, Mr. Rothenberg acknowledges the ad-blocking problem, while hinting that it’s been hyped up. And he’s rather frank in his assessment of Google and Apple’s role in this.
FACEBOOK’S VINE MESS: Facebook has been hearing it lately from YouTube stars about the social network’s apparent lack of protection for video content. These creators say that unlike YouTube, Facebook lacks an automated means of tracking their video–and more importantly, lacks a way for them to make money. That’s the latest side effect in the battle between Google and Facebook to own Web video. But quietly, Vine stars are also feeling ignored and unprotected by Facebook, where their videos are being posted without permission, resulting in lost opportunities for them to gain more followers and viewers. That hurts them as they pursue deals with advertisers, reports CMO Today. That, in turn, inadvertently puts parent company Twitter into the middle of the YouTube/Facebook war.
DEAD TALENT: While some top marketers will pay big bucks to try to get stars like Beyoncé or LeBron James to endorse their brands, these celebs can be expensive, they might turn you down, and they might not be willing to say or do exactly what you want. But deceased celebrities should theoretically be a lot more available and amenable, since they are dead. That’s the bet being made by a pair of companies looking to lock up the dead celebrity hologram market. Yes, this is a real thing, reports WSJ. There’s Hologram USA, founded by Greek billionaire Alki David, which licensed the technology that helped project holograms of Tupac Shakur at a music festival, and there’s Pulse Evolution Corp., a startup focused on “virtual humans.” Sound off the wall? If you think about it, deceased celebrities can have even more resonance as the years pass and their legends grow. Plus, they aren’t going to embarrass brands by getting arrested, or worse.
-HBO took home the top prizes for best drama series and best comedy series during the 67th annual Emmy Awards [WSJ]
-Meanwhile, host Andy Samberg gave out a working HBO Now account during the show [Mashable]
-The recent firing of the L.A. Times’ publisher after only a year on the job has cast a spotlight on the tensions between that newspaper and its corporate, non-local ownership [New York Times]
-While advertisers and media companies are clamoring to experiment in virtual reality, the medium is far from being mainstream [CMO Today]
-Facebook’s ubiquitous “like” button can potentially be prevented from appearing on Web pages by ad-blocking software [CMO Today]
-The sequel “The Maze Runner: The Scorch Trials” won the box office this past weekend but failed to live up to the performance of the original movie [WSJ]
-Some in the Web publishing world, and the mobile app development sector, are questioning the ethics behind the use of ad-blocking software [New York Times]
-A top Silicon Valley investor says that Amazon is starting to threaten Google’s search business by mitigating people’s need to conduct e-commerce searches using its search engine [Business Insider]
-Coke has started running an ad campaign via Twitter using emojis that appear when people use the hashtag #ShareaCoke [WSJ]


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Northern Electric calls in receivers
UNCERTAINTY hangs over 500 jobs after retailer Northern Electric went into administration today.
Administrators KPMG have been appointed to Northern's holding company, Shop Electric Group, and its two subsidiaries, Northern Retail, which trades as Northern Electric, and warranty support company B2C Support Services.
Northern Retail runs 25 UK electrical retail outlets.
The group, which is based in Gateshead, employs about 500 staff and has an annual turnover of £80 million.
All Northern Electric's UK stores will stay closed over the weekend to allow the receivers to carry out a stock take. The majority of staff have been sent home.
Richard Fleming and Julian Whale, of KPMG Corporate Recovery, were appointed joint administrators at the request of Shop Electric's directors.
Mr Fleming said: 'Northern Electric has suffered from competitive pressures and squeezed margins as the pre-Christmas seasonal upturn has failed to emerge.
'We hope to sell as many of the stores as going concerns and we will decide early next week whether to open some of the retail stores.'
Currently, the Northern Ireland business Shop Electric Limited, which owns 35 shops, is not in administration.
The Northern Electric shops business was formerly the retail arm of north eastern electricity distributor Northern Electric Plc, which sold it to an independent company owned by the retail business's directors in June last year.
Later, KPMG said the Northern Ireland business Shop Electric Ltd, which owns 35 electrical shops in the province, had also gone into administration.
Unison said the staff had been treated 'disgracefully' and pledged to do all it could to protect their employment rights. The first indication workers had that something was wrong came yesterday when they were told they could only sell goods that were actually in stores.
They were sent home at 11am today and now fear for their future.
'This has come as a real blow, especially so close to Christmas,' said a union spokeswoman. 'Workers' futures are now hanging in the balance.'
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Sales for OFSC trail passes across the region have spiked as snowmobilers across Ontario are revving up to get the season started.
Mid Ontario Snowmobile Trails manager Kevin Hagen says sales in his district are up by 39%.
“I would chalk it all up to last year’s winter,” said Hagen. “Some predictions are that we will have another winter like that this year, so as a snowmobiler I am really happy and hope that really happens.”
Thousands of snowmobilers went online to buy an early bird permit and by doing so, saved themselves $50.
Not only have permit sales increased, but snowmobile dealers have also been selling through their stock.
J & R Cycle owner John Broderick says his repair shop near Stayner is also expecting to be busy this winter.
“Everybody remembers last winter and rightly so,” he said. “As a result of that, there is a little more forethought going into it this year. People are trying to get their sleds ready before the snow actually hits, which is a good thing because it's always good to be prepared.”
Sledders have until midnight on December 1st, to buy their permits before the early bird price ends.


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Automakers and gadget providers are working hard to insert the applications of i phone and smart phones to bring in more high tech electronics in to automobiles.
Audi is going to use their smart phones which helps the drivers to check out their car’s fuel mileage and other performance data like miles per gallon over the course of a trip, emissions and engine revolutions. In the Audi car, a smart phone offers a application known as Wow which is used in i phone, another highly useful tool provided by the makers. This system works by plugging an I Phone into the car’s OBD-II port in the dashboard, the plug in communicates with the car’s engine computer. Chrysler is using smart phones to replace a car’s bulky paper owner’s manual.
Smart phones have many advantages like portability which allows the motorists to know about their vehicle when they are away from the vehicle. Web based applications are easier to keep up to date than the electronic components in the car. Another feature of the Smart phone in GM cars is that the owners can lock or start their vehicle with their smart phone, and even remotely blink the headlights or honk the horn to find a car in a crowded lot.
Cobra Electronics, Chicago based manufacturer of radar detectors, launched a system that uses a driver’s I Phone as the detector display and it tells a motorist when it picks up signals from police speed radar guns, it also warns of red-light cameras by using the I Phone’s GPS capability, and is priced at $169.95.


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Hewlett-Packard CEO Whitman sees bigger role for Texas operations
The Dallas Morning News reported that Whitman liked what she saw during her visit to the former headquarters of Electronic Data Systems.
Hewlett-Packard bought EDS in 2008 for $13.9 billion. This past summer, HP took an $8 billion write-off on its purchase in EDS. The Morning News said that Plano-based HP Enterprise Services generates roughly $28 billion of HP's $120 billion annual revenue.
Whitman told the Morning News that she's a bigger role for HP operations in Plano, Houston and Austin as the company goes through her multiyear plan to turn the Palo Alto Calif.-based company around.
You can read the full report in the Morning News here.
Lance Murray edits and writes for the DBJ's website and can be reached at 214-706-7106
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Labor MP Stella Creasy, that is campaigning against payday loans companies and you will requiring a good safety with the attention payments, said: “These companies is simply persistent during the seeking block out concerns about judge financing-sharking in the uk in their lobbying regarding government
Controversial pay day loan business Wonga would like to synergy into government to find the economy broadening, a collection of lobbying characters let you know.
The business – that has been criticised to own battery charging so you can cuatro,215% Apr on the their finance – mentioned it might assist organizations starved regarding borrowing from the bank of the finance companies.
Payday loan groups are titled “legal mortgage dolphins” of the campaigners getting taking easy-availableness cash to tough-upwards somebody on over-mediocre interest rates.
Wonga’s lobbying work is found in a flat of letters sent in order to authorities departments and you may gotten from the Huffington Blog post United kingdom as much as this new Independence of information Really works.
They let you know the brand new industry’s tries to curry opt for into government, manage bad headlines trailing-the-views and you may encourage ministers against proposed curbs on their facts.
Referring as Britain’s better 50 shell out-time creditors dump than simply a month to cleanse right up their work if you don’t risk losing the fresh licences.
Into the February, work out-of Fair-trading considering the firms yearly so you could potentially “boost their people tips” after discovering “extensive irresponsible credit.”
A friends spokesman said the attention cost into the its business financing system was basically less than its unsecured loans, since they are intended to be spread-over offered
However, despite envision curbs into ads brand new capital, ministers has up payday loan Ca up to now governed-aside providing a threshold towards the focus costs, saying this could force consumers with the hands from illegal creditors.
The company lead five emails so you’re able to ministers regarding the newest Treasury and you will new Services with Company, Creativity and you will Education, over 1 year.
The read more consumer Credit Team, which is short for payday loans people, sent a further half a dozen, warning brand new economy will be broken less than a recommended handle shakeup.
Inside Sep, Wonga’s Lead out of Regulating Facts, Henry Raine, published to help you Tory MP Michael Fallon, that has only been appointed Business Minister.
“I wanted to healthy their oneself this new part, and familiarizes you with Wonga even more formally, adopting the all of our talk regarding Lord’s for the-will get,” the guy had written.
For the an indication within individual outcry from the interest levels recharged by the some pay-day lenders, the guy admitted credit was “an enthusiastic emotive situation,” but told the fresh Minister “Wonga was a most-to-rare United kingdom ‘tech’ profits story,” and you can advised a meeting.
Shortly after small-speak towards traditional tunes, a beneficial ed Wonga representative once more states the brand new payday lender’s ‘Wonga To possess Business’ design, asking to “mention version of perform that cluster desires functions on so you can remind financial development.”
The email has the lack of money to own smaller than average normal measurements of businesses (SMEs), offers to “show feel” out-of .
Once regulators minister Lord Popat said he was “definitely worried” to your OfT statement, he received a letter regarding Wonga, bringing “background” with the cluster and you will stating it had been “highly purchased in charge lending.”
At the same time, a single Credit Relationship (CCA) kept in tension over plans to import responsibility in order to your online business to your new Monetary Work on Authority concerning your upcoming seasons.
It cautioned ministers: “New wager is higher. This can be a life threatening rider away from development in the true discounts and lots of would rely on it”
Wonga including penned so you’re able to Treasury Minister Lord Sassoon or other users of the home of Lords therefore you’re in a position to need these to refuse motions to help you demand a threshold into number of notice that can feel billed.
La Farrell, of Step Change foundation that can help individuals lasting financing repayments, said: “Everyone has the legal right to lobby authorities.
“However they helps make most of the characters needed – after they need ministers when deciding to take pick, they have to be improving the globe.”
Creasy reiterated the girl you need a wages towards the cost off notice, saying: “Towards the carried on jobless and you may cuts to help with functions, these issues are going to become worse not finest with the this new 2013 deciding to make the must perform improved.
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The Customer is (Sometimes) King
The customer is king, or some variation of that adage, seems to be the rallying cry of CRM vendors attempting to convince corporate America that focusing on customers will result in a big payoff.
But is there a catch to that catch phrase? Are CRM systems and corporate CRM practices actually driven by customer needs? Or is the current state of CRM really about how businesses can leverage customers to make more money, cut internal costs, or both?
Sadly, most of the CRM business processes and best practices are used to fine tune the agenda of the corporation, not the customer, says Patty Seybold, president of the Patricia Seybold Group, a market researcher and consultancy in Boston. So although it seems that everyone has been invited to the draw the sword from the stone, in fact, many customers don't have the power to free it.
"If the customer were really king, businesses would be reinventing around the customer and reorganizing around the customer. That is not happening," says Sheryl Kingstone, an analyst with CRM Strategies Group, a Boston-based market researcher. "Technology does not make the customer king." Kingstone cites Walt Disney Co. CRM efforts as an example. About two years ago Disney was looking to segment its businesses around customer demand and map technology to support that, she says. The plan was never fully realized.
Although Disney's plan fizzled out, it shows that some companies truly are focusing on their customers. "Saying the customer is king is industry double speak--but double speak with a caveat" says Denis Pombriant, an analyst with Aberdeen Group, a Boston-based market researcher. "The longer the CRM trend evolves, the truer it becomes. Early CRM was all about transactions and tracking data, not about the customer. Modern CRM is taking a stab at implementing best practices and processes that put the customer first."
Knight or Knave?
But even as customer expectations and influence increase, does it make business sense for companies to crown all of their customers as rulers of the kingdom?
"The goal of a CRM system is not to make the customer king, but to treat the customer appropriately," says Andy Goreing, senior director of service product development at Oracle Corp. "It doesn't mean customers get an increased level of service, but the appropriate level of service."
CRM never promised to make the customer king, says David Thacher, general manager of global CRM for Microsoft Corp. "The premise is not the value of the individual customer, but the customer as an aggregate."
This is one reason that there is a big difference between the impact CRM has had on business-to-business customers and on business-to-consumer customers. B-to-B customers, especially the largest ones, are often considered partners in a relationship (consider Wal-Mart's relationship with supplier Procter & Gamble). Because both the customer and the supplier have something to bring to the B-to-B party, customers often have the leverage to negotiate and in some cases dictate the terms of their deals. That means large B-to-B customers are often given some sort of access to a supplier's CRM system, a customized portal, or at the very least preferential customer service.
Michael Boyd, IT technical project leader for Fujitsu PC, in Memphis, has experienced this firsthand. "As a bigger company we have some leverage in deals with our partners and suppliers. The bigger you are the more you have to offer and the better you are treated." Boyd says.
An executive with a national electronics retail chain who asked not to be identified says CRM systems have helped the midtier companies get better service and support as well. "It used to be that only the largest companies had special discounts and access to companies. Now, even though we are not the biggest customer, we are treated as though we have special clout," he says.
Meanwhile, business-to-consumer customers--individuals shopping online, dealing with banks, phone companies, and cable providers--are not given the same treatment. Although many of these types of business have set up Web sites that allow users to check their accounts and pay bills, the companies are still dictating all the terms and conditions. The reason? Unlike large B-to-B customers, the average individual customer rarely knows his value to the company, and therefore rarely attempts to exert any leverage to negotiate better deals.
Still, Seybold says, individual users can make a difference. Two years ago she spoke with Fidelity about its relationships with large customers and Fidelity told her it dealt primarily with top-level human resource executives to set up or modify benefit plans. However, recently Fidelity told Seybold it absolutely has to offer a great experience to the individual employees, because some of its largest corporate customers give employees the option to choose benefits providers. "That is where the power of the end customer can come back to bite a company that is only focused on their customers as corporate entities," she says.
Seybold cites airline frequent flyer programs as the first and most explicit time when companies have showed individual customers their value. Credit card companies also let customers know their value, by offering different levels of credit.
Goreing imagines that in the near future third-party firms might use CRM technology and analytics packages to start a new type of business. He speculates that these new services would charge people to deliver values or ratings associated with how that individual ranks among other users of the same service. For example, an individual might spent $200 per month with her long distance provider and not know that amount is significantly more than what the average person spends monthly. Using that information might give them some power to ask for a more beneficial rate plan.
Some companies might welcome that level of influence from individual customers, because customer who feel empowered might also be more loyal. But even loyal customers can sometimes come with a caveat. Many companies are finding that their most loyal customers are also the most demanding, says Paula Kruger, General Manager of CRM at EDS Corp., in Plano, TX. "The most loyal customers are not always the most profitable, since they are often demanding more service, which means on a transactional basis they are costing businesses more," she says. For example, if a banking customer with $90,000 in savings goes to a teller for every transaction and calls the bank three times a week, then its likely they are less profitable than a customer with $40,000 in the bank who never visits a teller and rarely uses customer support.
Aberdeen's Pombriant says if more people knew their value to the firms they purchase goods and services from, there might be even more churn, an industry term for those who switch services, such as long distance phone providers.
"There are some people who do nothing but churn. Yes, they have some power but they are the least valuable and least loyal group and they act as if they have clout," Seybold says.
The Quest for Power
Although customers may not always know their value to the vendor they buy from, most of those vendors certainly know the value of their customers. The current breed of CRM systems and sophisticated analytics tools have made it possible for those companies to know exactly how loyal and costly or profitable customers are to them. Companies can and should use this knowledge to create a strategy that treats customers individually and appropriately based on their value.
However, businesses should also use CRM to maintain a customer focus. "The more you know your customer, the more you can control them," Pombriant says. "CRM is a tool that is often being used in irresponsible ways and can have deleterious side effects. What you get out of CRM is not always good." Pombriant cites a marketing example: "Overuse of targeted promotions supported by CRM can have a negative effect on company profits and the best CRM in the world isn't going to change that."
The fact is that consumers in the United States are savvier than ever and getting more and more demanding. To many of these customers, having vendors misuse the information they have gathered is as bad or worse than receiving poor service.
"Customers may become more demanding and the landscape may change, but an integral part of what [CRM delivers] is the ability to change and adapt quickly," says Ed Abbo, vice president of technology for Siebel Systems Inc.
This is one reason CRM is so popular among businesses that sell commodity products and services. Currently, for example, the banking industry is feeling economic pressure, and according to a report released in September, customer intimacy is the only viable strategy for financial institutions.
The report, "Competitive Strategies in the Consumer Age," issued by Meridien Research, states that strategies based on product leadership, market leadership, and cost leadership, are not viable for financial institutions. "While each of these has merit, for the majority of institutions only customer intimacy provides the basis of a sustainable strategy," says the report's author, Richard Bell, a senior analyst at the Newton, MA, market researcher. "Successful customer intimacy requires much more than customer knowledge. It requires delivery excellence, support excellence, and becoming a trusted partner with your customers."
Bell says that to date most financial institutions engage in "some unconscious combination of all four strategies, and have yet to come to grips with the fact that this is an attitude problem. It has to be what a bank does. It has to be pervasive. This is not just a customer-driven strategy or one of five strategies. It has to be what the bank is about as an organization."
Bell defines customer intimacy as dealing with complex financial issues such as education, retirement, wealth management, wealth transition from one generation to the next, and getting insurance in order.
"The engagement is complex, but the value to the customer is large and the profitability for the bank is even larger," he says. "There are enormous engagement costs, and the resources are consumptive, but the fees are enormous and it's a way to make money hand over fist." Translation: Treating the right customers royally--having a customer-centric strategy--returns a king's ransom in profits.
Whose Throne Is It?
Whether the customer is or should be king, the fact remains that CRM systems and the Web have set and continue to raise customers' expectations higher. "People expect a higher level of service," says Holly Holt, senior product manager of CRM for Microsoft Great Plains Business Solutions, in Fargo, ND. "And while CRM is a strategy supported by software. You have to have people at the core making decisions."
Customer loyalty expert Dianne Durkin agrees. As customers get more demanding, businesses will need more than sophisticated CRM software, she says. "Software is great, but it is not the answer," says Durkin, president of Loyalty Factor LLC, a Portsmouth, NH, training and consulting firm that specializes in customer care. "There needs to be a human side, where people are properly trained to clearly identify the emotional and technical needs of their customers." In other words: Beware of overautomating customer care and technical support.
Oracle's Goreing says the first myth to dispel is that moving service to the Web saves money. "If a customer feels compelled to get in touch with a company and finds the Web experience annoying or frustrating, they have twice the frustration," Goreing says.
"Businesses have gone overboard in automating services," Durkin says. "In some cases it is more effective to deal with an automated system, but for the most part people want to talk to another human being." The upside, according to Durkin, is that service centers can use this initial (and possibly negative) interaction and turn it into a positive experience by converting service and support groups into revenue generating centers. Her theory is that once customers receive a polite, prompt resolution, they will be receptive to someone selling them additional goods or services--provided these are targeted specifically to them.
She also says that as customers begin to demand more, businesses will have to have a more systematic way of measuring satisfaction levels. "It needs to be communicated to everyone in the company that their paychecks are coming from you as a customer, and that they need to keep you, the customer, to continue getting paid. The customer certainly will be treated as king if [employees] believe customers pay their salaries," Durkin says.
The next step, according to Seybold, is to know the other relationships of your customers. For example: An individual who spends merely an average dollar amount per month with a wireless phone provider might be considered even more valuable if the wireless company knew the customer's spouse was responsible for selecting the wireless service plan for 5,000 workers at a large company.
Aberdeen's Pombriant says one day we will get to that point, but that right now we are "one step too far removed to identify those types of influencers."
But the technology continues to evolve and the CRM market continues to mature, so most industry- watchers who see the upside of using CRM plan to use it to be customer-focused. "In sales they say hope is not a strategy," Pombriant says. "In CRM kissing up isn't a strategy."
True. But treating customers individually and treating the right customers as royalty can help companies' dreams of profitability come true.


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The new Android phone blends multiple shots into one to generate photos that look more like what your own eyes see.
Amtrak announces that Samsung's Galaxy Note 7 is prohibited from traveling on board its trains.
There's a 90 percent chance the Apple power products you bought on Amazon are fakes.
Your Pixel or Pixel XL has its own launcher, complete with some new tricks.
This is how to use Google Maps by talking to your Android phone.
A new feature in Android 7.1 will feel familiar to iPhone converts, and speed up common tasks for diehard Android users.
LG's best phone brings it with Android Nougat, two rear cameras and a 5.7-inch screen. But is that enough to unseat its rivals?
Technically Incorrect: During a speech in Miami, the president has a good chuckle at Samsung's exploding problem.
Microsoft says sales of its tablets surged 38 percent year over year in the company's first quarter.
Discussions between the telecommunications giant and the media conglomerate are at an informal stage, Bloomberg reports.
US corporations are getting into renewable energy, with the two retailing giants leading the way in solar capacity.
Technically Incorrect: A survey finds that digitally focused brands are the ones customers cling to most. Except when they need a cup of joe.
Amazon Echo Dot is the future
The new and improved Echo Dot takes Amazon's best-in-class smart home speaker and wraps it in an ultra-affordable package. See why it earned our Editors' Choice award.


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CEDE 2021 in the colour of hope
The visual identification of next year's Central European Dental Exhibition CEDE (Poland, Łódź, September 16-18) is dominated by green >>
CEDE 2020 with no misunderstandings
Due to inquiries from exhibitors on the reimbursement of fees related to CEDE 2020 in Łódź (December 3-5) participation, we would like to inform you that in case of the event not taking place for reasons beyond the control of the organiser (e.g. lockdown as a result of another wave of covid-19), exhibitors will receive a refund under applicable law >>
Virtual CEDE – time to go into details
When you say CEDE – you think of Łódź or Poznań. Or so has it been so far. It is high time to depict the oldest Polish trade exhibition also on the Internet. Take part in the Virtual Dental Exhibition by CEDE, without leaving home, in September >>
VDE by CEDE – global digital experience!
Ladies and Gentlemen, we are pleased to inform that we are close to sharing the details of the unique project – Virtual Dental Exhibition by CEDE (September 24-26, 2020). Over the next two weeks we will provide you with the necessary information. Bear in mind that according to the concept, participation in VDE is free (standard virtual stand)* for registered exhibitors of CEDE 2020 (Łódź, December 3-5, 2020) >>
Poland: new date and location of CEDE 2020
29. Central European Dental Exhibition CEDE 2020 will take place December 3-5 in Łódź. All confirmed exhibitor reservations are retained. CEDE was originally to take place September 24-26 in Poznań, but the COVID-19 pandemic thwarted plans of the organisers, who decided to postpone the event and additionally change the location.
Virtual Dental Exhibition by CEDE
The virtual dental exhibition in Poland – VDE by CEDE will take place in September, whereas traditional part December 3-5, in Łódź – this is the new plan of Central European Dental Exhibition organisers, as the economic slowdown reaches the industry.
Statement for registered exhibitors
Ladies and Gentlemen, Dear Exhibitors on April 2, 2020, by e-mail and press information distributed to industry media, we informed about the new date and location of CEDE 2020 (Łódź, December 3-5, 2020). As well as about the organisation of the global Virtual Dental Exhibition by Exactus, which will take place on September 24-26, 2020 >>
CEDE 2019 statistics
CEDE 2019 is history. Once again, we proved that CEDE is more than just an exhibition >>
Dr Gerhard Seeberger in Poland - summary of the visit
This year's CEDE 2019 was undoubtedly an extraordinary event on a national scale. Numerous lectures and workshops enriched the atmosphere of exchange of clinical experience between dentists from various regions of Poland, allowed us to spend 3 days of September in a truly expert group of doctors, sales representatives, but also active dental hygienists and dental assistants, to whom a whole separate panel of the congress was devoted >>
CEDE 2019 Stars contest - winners
We present the list of winners of the CEDE 2019 Stars contest, an online plebiscite for favorite dental products >>


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804 views, By The Pet Professional Guild
Initiative will support professionalization of dog training and behavior consulting throughout the United Kingdom
206 views, By WCI Communities
WCI now selling spacious townhomes with balconies and 2-car garages in the popular community
375 views, By Berkshire Hathaway HomeServices
Berkshire Hathaway HomeServices Florida Properties Group proudly announces Veronica Davidson has joined the company as Managing Broker & Market President of the New Tampa/Wesley Chapel & Zephyrhills offices.
623 views, By The Pet Professional Guild
Successful candidates gain opportunity to broaden their knowledge base in the fields of pet care, training and behavior consulting at selected educational institutions
213 views, By 7-Eleven
7-Eleven, Inc. invites local residents to sip, snack and see what the new 7-Eleven® store at 2525 Bruce B. Downs Boulevard has to offer. A grand-opening celebration is planned for Friday, May 31 the day the store officially opens to the public.
102 views, By UnitedPlumbing-Drain.com
United Plumbing and Drain has announced its offer of professional slab leak detection and repair services for homes and businesses in and around Wesley Chapel, FL. More information can be found at UnitedPlumbing-Drain.com.
697 views, By Pet Professional Guild
Under the program, eligible candidates can now apply for opportunities to further their force-free education
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World's first artificial intelligence software available on personal computers builds customer base in Italy
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United Plumbing & Drain is offering professional drain cleaning services for households and businesses in Wesley Chapel and the greater Tampa area. More information regarding these and other plumbing services can be found at UnitedPlumbing-drain.com.
133 views, By Market Technologies, LLC
The company behind VantagePoint Artificial Intelligence Software, Market Technologies was recently named one of Florida's Best Companies to Work For
161 views, By Market Technologies, LLC
President of the world's first artificial intelligence trading software invited to provide expert insight on past and future market trends as it relates to the gas and oil industry
1314 views, By Pet Professional Guild
International Day of Advocacy marks launch of global advocacy movement to eliminate electric shock collars from the supply and demand chain
2460 views, By Pet Professional Guild
New levels aim to ensure next generation of pet professionals is educated in force-free, ethical, scientifically sound training methods
159 views, By Market Technologies
President of the world's first artificial intelligence trading software invited to provide expert insight on recent study about Millennials and retirement
1073 views, By Pet Professional Guild
Official trade publication BARKS from the Guild now has its own unique website; includes rebranded BARKS Podcasts and BARKS Blog
2652 views, By Pet Professional Guild
Localized advocacy activities to support goal of eliminating shock devices in training, care and management of pets; call for consumer transparency for pet owners seeking professional advice
166 views, By Market Technologies
President Lane Mendelsohn of VantagePoint Trading Software Shares His Predictions on Tesla, Google and Netflix stock trends
674 views, By Pet Professional Guild
Successful candidates gain opportunity to further their education in the field of force-free pet care, training and behavior consulting
169 views, By Market Technologies
Newly appointed President of VantagePoint Software Lane Mendelsohn discusses financial freedom for traders using artificial intelligence
183 views, By Market Technologies
The stock market trading software known for its accurate market trend predictions now uses AI technology to forecast for Twitter and other social media stocks.
185 views, By Market Technologies
VantagePoint Software using patented Artificial Intelligence technology to predict stock market trends and trend changes made the official announcement today that it has increased the number of cryptocurrencies that traders can use the software to...
492 views, By Pet Professional Guild
The Pet Professional Guild, an independent non-profit organization dedicated to promoting educational initiatives for the purpose of force-free training and pet care, has appointed a new board member with a view to greater expansion and increase
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Creator of VantagePoint Software provides successful work environment with many employee perks such as free breakfasts, 100% paid healthcare and professional development
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The Pet Professional Guild (PPG) and seminar Co-Host Doggone safe announce an impressive line-up of speakers for a seminar taking place in Portland, Oregon on April 26-28, 2019, according to President, Niki Tudge
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Lane Mendelsohn to lead company that developed VantagePoint Software, backed by artificial intelligence and capable of forecasting market trends up to 3 days in advance with up to 86% accuracy
188 views, By United Plumbing & Drain, Inc.
United Plumbing & Drain has announced its offer of professional drain cleaning services for both homes & businesses in Wesley Chapel, FL. More info regarding these & other Wesley Chapel plumbing services can be found at UnitedPlumbing-Drain.com.
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Successful Insights Magazine highlights VantagePoint's unique use of artificial intelligence that helps stock traders build wealth, preserve capital in volatile markets
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World's first artificial intelligence-based market forecasting tool backed by industry thought leader
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As featured expert for Benzinga round table, Mendelsohn says more investors will discover AI as a critical tool to leverage volatility, create wealth
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United Plumbing & Drain has announced its offer of professional 24-hour emergency Wesley Chapel plumbing services for homeowners & businesses in Wesley Chapel and the greater Tampa area. Those in need of service can call United Plumbing & Drain.
185 views, By Market Technologies
Review boasts software's use of AI is 'ushering in next technological revolution'


text: 1000 Hills Fitness is thrilled to share a recent article in the Private Club Advisor, a monthly business letter written for directors, officers, owners and managers of private clubs. The feature quotes Scott Poston, founder and president of 1000 Hills Fitness. Scott comments, "I’ve hired hundreds of fitness professionals. The successful ones take personal responsibility for their business. They also exude a sincere passion for fitness, and their enthusiasm is contagious."


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After a decade of secret development, Apple has scrapped its plans to build an EV to compete with Tesla. The tech giant had announced plans to release its debut EV in 2028 just last month.
Breitbart News reported this morning that Apple has scrapped its plans to produce an EV, nicknamed the “iCar” in honor of Apple’s notorious product naming scheme. The cancelation comes just a month after a 2028 release date for the EV was announced by the company.
Reports first emerged in 2014 that Apple was recruiting automotive engineers and talent from major car companies, kicking off an ambitious but quiet effort to break into the electric vehicle market. While Apple never publicly acknowledged the project, internal teams worked for years to develop self-driving software and test prototype Apple cars around the San Francisco Bay Area.
At its peak, Apple’s “Special Projects Group” employed thousands of employees; however, the project failed to gain traction within a company focused on consumer electronics and software. On Tuesday, Apple announced it would be winding down the electric car team and reassigning some engineers to other divisions, signaling an end to nearly a decade of work.
The cancellation highlights the challenges Apple faced in branching out into full-scale automotive manufacturing. Unlike iPhones and other electronics, producing electric cars at scale would have required major investments in factories and equipment. It was also unclear where Apple would turn for mass production of a vehicle, given its reliance on partners like Foxconn for device manufacturing.
While Apple is shutting down its car project, the company will continue developing automotive-related technologies. Its CarPlay software now comes installed in 80 percent of new cars, providing iPhone integration and infotainment features. Apple may also utilize self-driving software expertise gained from its autonomous test vehicles for future transportation projects.
For Apple, canceling its car project reduces risks and overhead while allowing an increased focus on existing product categories including AI. The company recently released its first VR headset and continues to develop potential new health technologies centered on the Apple Watch.
Read more at CNBC here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.


text:
Boulevard Beer Plans Expansion
KANSAS CITY, Mo. — The Boulevard Brewing Company’s popularity is well-established in Kansas City, but now other markets are learning their secret and that has Boulevard Brewing planning expansion.
According to the Kansas City Business Journal, the company entered several new markets in 2012 and may exceed 70% growth this year.
KCBJ reports those new markets include:
- North Carolina
Boulevard is reportedly trying to determine exactly how much money it should spend on new investments, like new fermentation tanks. It already spent $3 million to add eight tanks.
Boulevard built its three-story facility in 2005 for about $25 million.
Boulevard’s Pale Ale and Unfiltered Wheat remain its biggest products, although Mark Alford and Charly Arnolt have their favorite!
- Mohammed Whitaker charged with Kansas City highway shootings
- Judge to convicted murderer: "I hope you die in prison"
- Find out your Easter bunny name
- Police credit tips, collaborative investigating as keys to arresting shooting suspect
- Frank Haith resigns from job by sending a text message to his boss


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(PRWEB) June 12, 2014
Daniel McCaffrey has joined online privacy and reputation leader Reputation.com as the company’s Chief Technology Officer.
McCaffrey oversaw the development and innovation of the Platform and Analytics Engineering groups for Zynga, the social gaming services provider. Under his leadership, the teams used analytics to develop tools, insights and use cases that improved the business, while also building and maintaining the core shared services that made up the platform. Dan also serves as an advisor to a variety of tech start-ups.
“Dan is a Silicon Valley engineering superstar with the expertise to drive innovation in digital privacy and online reputation management,” said Michael Fertik, Reputation.com’s Founder and CEO. “Reputation.com is a company that puts a premium on hard tech and we’re fortunate to have Dan, an experienced and proven innovator, at the helm of our technical leadership.”
As Chief Technology Officer, McCaffrey’s responsibilities will include setting engineering strategy, overseeing and managing Reputation.com’s engineering, research and development, quality assurance, security and site operations, and ensuring the company’s technical resource needs are met.
“As the world becomes more digitally connected, consumers and enterprises will need reputation and identity management technologies,” said McCaffrey. “Reputation.com is the leader in reputation management and there are exciting opportunities here to build next generation capability in identity protection and reputation analytics.”
Prior to his tenure at Zynga, McCaffrey co-founded Breadboard BI, a business intelligence software and consulting company. After beginning his career in molecular biology and immunology laboratory research at University of California, San Francisco and Genentech, he moved into software engineering focused on bioinformatics systems at both Genentech and Incyte Pharmaceuticals.
Reputation.com was founded in 2006 to give individuals and businesses the power to control their digital privacy and reputation. The company continues to pioneer patented solutions that safeguard and remove personal data from the Internet, monitor and respond to online reviews, build a positive and accurate Web presence for clients, and help businesses proactively engage customers.
Reputation.com is a World Economic Forum Global Growth Company and multiple award winner, including the recent Silver for the Best in Biz Awards for “Most Customer Friendly Company” in 2012. It is funded by top-tier venture capital firms and has customers in 100 countries. Follow Reputation.com on Facebook, Twitter and LinkedIn.


text:
XD Network, the publishers of ICEY, have announced that the game has sold over 2 million copies worldwide.
The figure includes Nintendo Switch sales as well as sales generated on other platforms. XD Network is pleased with the results and says that this will allow them to continue to work on future projects and even continue working on ICEY.
What do you think? Let us know in the comments.


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Scammers are looking to capitalize on the surge in gold prices with new, more advanced scams than in years past. The yellow metal approached $1,690 an ounce this morning before pulling back following a big upside surprise in jobs data.
Gold scams on the rise
CNBC reports that as demand for gold rises, so scams involving the precious metal have been rising. Networks of scammers pose as real gold traders to try to trick investors. Fake products involving promises of gold investments have become more advanced, according to experts who spoke to CNBC.
Asset manager Sprott US Holding told CNBC that they’ve been hearing about more and more fraudulent approaches from their clients. The company’s CEO said gold scams always coincide when precious metals prices increase. Such situations also coincide with times when investors are more fearful of conventional investment products.
Types of gold scams
Articles promise hyperbolic upside in precious metals to generate interest in gold, silver and other precious metals. Investors who inquire as a result of those articles end up being cheated in a variety of ways. The gold scams can include “off-market products, excessive spreads, or simple swindles where the customer forwards money for goods that are never transferred or delivered,” Sprott US Holdings President and CEO Rick Rule said.
BullionVault Research Director Adrian Ash told CNBC that the last time the gold price soared as much as it has recently, numerous gold scams came to light. He said the most basic scheme involves claims that gold bullion coins are rare and then charging victims too much for them.
He said another common gold scam is called the “empty vault” scheme. Supposed dealer claims to offer safe storage for gold owned by the investor. However, the gold either doesn’t exist or isn’t as promoted. He noted that if someone is promising to store something for you, you have no way of knowing if it’s even there. Even if you go to inspect the gold, how do you know it doesn’t belong to other people?
To work around this scheme, companies issue daily public holdings data. The data lists investors under nicknames so they can see the gold they own that’s being held by the real company. Publishing data using nicknames protects investors’ privacy. BullionVault also uses independent reviewers to visit vaults and ensure that every bar of gold is exactly as it was described.
Mule rings and counterfeit gold
OneGold CEO Ken Lewis told CNBC about a scheme they described as a “mule” ring. The gold scam involved contacting people through dating sites or apps. The scammer would then ask them to buy gold and then forward it to them, claiming they needed the gold to help them get to the U.S. He estimated that this gold scam bilked hundreds of people out of $3 million to $5 million in total.
Experts also say scammers frequently offer fake gold and sell it lower than the market rate on online marketplaces. The counterfeit gold is becoming more and more advanced. If investors don’t have the gold tested properly, they may not even realize that it’s fake until they attempt to sell it later.
According to Lewis, the easiest way to tell whether gold is real is to look at its dimensions and weight. He noted that the metal is one of the densest elements on Earth. Thus, if the weight and dimensions of the gold match what the manufacturer’s specifications are, then it is likely authentic.
He also called attention to infomercials that convince investors to call in. Elderly or vulnerable investors often hear pitches for a significantly overpriced product. Such schemes also typically involve high pressure sales tactics and claims that they will see exponential growth in their investment.
How to avoid gold scams
Rule said many gold scams are executed through “trust-based” communications with their victims. Scammers may play on their victims’ conservative political views or religious views. Some gold scams target the investor’s desire to avoid paying taxes and reporting their holding, so anonymity is promised. Sometimes anonymous or offshore storage is offered, but such options do not actually exist.
The easiest way to avoid scammers is to work only with established, reputable firms. Investors can verify the licenses of the brokers they deal with via the Financial Industry Regulatory Authority‘s website.


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Investment in Mexico: it’s the real thing. Coca-Cola’s announcement that it will pour $1bn into the country every year until 2020 is just the latest in a string of recent big-ticket spends in a country where manufacturing is leading the country out of an untimely economic slump.
The US beverage maker, whose operations in Mexico include eight bottling groups in Mexico, juices and dairy as well as sodas and water, said it would invest more than $8.4bn from 2014-2020, bringing the total invested in Mexico during the decade to $12.4bn. Read more
By Luke Smolinski and Pan Kwan Yuk
Coca-Cola and Pepsi are known for their cheery attitudes to the world. Their slogans include: “open happiness”; “life tastes good”; “the best drink created worldwide”.
But these days, life is tasting a lot less sweet for the two drinks giants as both struggle with waning growth in key emerging markets.
It was only two paragraphs long. But the fallout from a surprise sales warning issued by Unilever last week was anything but minor.
Shares in consumer goods companies across Europe and the US all fell after Unilever warned that weak growth in emerging markets, exacerbated by currency weakness in countries from India to Indonesia and Brazil, would result in underlying sales growth of 3 to 3.5 per cent for the third-quarter. This compares with growth of 5 per cent reported during the first two quarters of the year. Read more
There’s a telling exhibit in Mexico City’s Interactive Economy Museum illustrating relative levels of human development and well-being. Photographs show (sometimes) smiling families from around the world with all the food and drink they consume in a week.
What’s striking about the Mexican family is just how much soda it gets through – there is a line of bottles on the table – and the exhibit is already few years old. Today, the amount of fizzy drinks guzzled would probably be even higher. Read more
The president of PepsiCo India, Manu Anand, has stepped down after just two and a half years in the job.
It’s difficult to separate the news from the company’s unfortunate decision to shell out millions of dollars to associate itself with the scandal-hit Indian Premier League (IPL). Read more
One of the most visible symbols so far of Myanmar’s opening to the west was the recent launch of Coca-Cola’s new bottling operations at its joint-venture plant on the outskirts of Yangon. Less visible was the changing dynamic around the seemingly unstoppable surge of foreign investment interest in the previously secretive country. Read more
Chileans love their soda so much they just call it “bebida”, or “drink”.
Indeed they glug with such gusto that the Andean country ranks third in the Americas behind Mexico and the US in consumption of fizzy drinks. So many Chilean consumers will be happy to hear that Coca-Cola and Coca-Cola Andina, its bottling partner in Chile, plan to pour $1.3bn into Chile by 2016. Read more
Thailand’s cola market has turned aggressive as the three big industry players get all fizzed up about a fourth drink on the block. With an eye on the proposed dismantling of regional trade barriers by late 2015 under the Association of Southeast Asian Nations Economic Community, the race is on to gain pole position in the country’s large and growing soft drinks market. Read more
It is India’s most popular cola, commanding over 40 per cent of a market estimated at $700m. It’s bigger than Coke or Pepsi but, odds are, you’ve never heard of it.
It’s called Thums Up (the missing “b” is not a typo) and Coca-Cola’s announcement on Tuesday that it would invest an additional $3bn in India over the coming eight years should mean Indians will see even more of it. But Coke has had a complicated relationship with Thums Up since it bought it in 1993. Read more
That’s two in a row. Coca-Cola, the world’s largest soft drinks maker, announced on Tuesday a total investment of $5bn in India by 2020, just days after Ikea, the Swedish furniture retailer, reaffirmed its long-term commitment to an economically beleaguered country in need of some good news.
Coke’s commitment – which adds $3bn to $2bn already earmarked – is a reminder that India’s huge market, rising incomes and favourable demographics remain attractive, in spite of serial failure by the government to enact pro-growth reforms and a slew of negative economic data. Read more
Half way into first quarter earnings season in the US and one trend is already becoming apparent – the extent to which US Inc is being propped up by emerging markets.
Kimberly-Clark, maker of Huggies diapers (nappies) and Kleenex tissues, on Friday became the latest US corporate to sing the praises of EMs – where strong sales growth has helped the consumer goods company offset weaknesses in its core US market. Read more
India’s love for sweet things doesn’t stop at sugary snacks and desserts. Fizzy drinks have been a favourite ever since Coca-Cola first arrived in the 1970s. While government regulations forced the company to leave India in 1977, it returned in 1993. Since then the country has seen the emergence and success of local cola brands. Today, carbonated drinks are a staple for every local street vendor.
Seeking to build on this popularity, Coca-Cola has now announced plans to invest up to Rs5.5bn ($121m) in a new plant in south India, as it looks expand further in what is one of the world’s fastest-growing beverage markets. Read more


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Telenor (News - Alert) has recently inked new global syndication agreement with Microsoft (News - Alert) that allows Telenor to sell licences for Office 365 as well as Microsoft's other services. Telenor is, therefore, one of the first telecom operators in the world to offer a telephony service within Lync Online from Microsoft Office 365.
From now on, Telenor’s business customers can get two professional business products as a single integrated package, namely Telenor's mobile business network 'Mobilt Bedriftsnett' and Microsoft Office 365, with voice included. Both these products are manageable in the cloud and are run by the Telenor and Microsoft data centres.
“Through this agreement, we are expanding our provision of cloud computing services with a solution that covers the communication needs of companies in one single package. We think this will satisfy a market need that is currently not being met,” says Telenor's manager of the business market, Bjorn Ivar Moen.
Telenor plans to officially launch Office 365 by next month and expects to have the product for voice integration ready for the market during the fourth quarter of 2013.
“We are delighted that Telenor is launching a service that brings together the best of both our worlds,” says Dagfinn Ringas, director of business and partners at Microsoft Norway.“With Telenor's telephony services fully integrated into Lync Online and Office 365, companies will be able to optimise their telecomms, collaboration and IT infrastructure. We have already seen considerable interest amongst customers for this type of solution in the markets where Telenor will be launching the service,” says Ringas.
In addition, Telenor's Norway two million plus customers can now use their cloud services on a daily basis and create new opportunities for integration with telecommunication services.
Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida. Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.
Edited by Brooke Neuman


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- people on the move
Company acquires supplier of engineered compounds
An Ohio company with a global reach has purchased a local supplier of engineered compounds for multiple industries.
Cuyahoga Falls, Ohio-based Americhem Group, a global provider of color, additive and engineered compound solutions for the polymer industry, said yesterday that it has acquired Grand Rapids-based Vi-Chem Corporation, a supplier of specialty engineered compounds used in injection molding, extrusion and blow-molding applications.
Terms of the deal were not disclosed.
The resulting company will be known as Vi-Chem, an Americhem Group company.
Vi-Chem’s headquarters in Grand Rapids encompasses 170,000 square feet and will serve as Americhem Group’s center of excellence for TPE and PVC compound solutions.
Vi-Chem employs 85 people.
“The Vi-Chem team has built a leadership position in specialty TPE and PVC compounds for the automotive industry,” said Rick Juve, CEO, Americhem Group.
In addition to the automotive market, Vi-Chem serves customers in the industrial, building, construction, medical, consumer, electrical and electronic industries.
Vi-Chem also houses research and development laboratories that are certified to the ISO/IEC 17025:2005 standard, an accreditation that certifies the capabilities of testing and calibration laboratories.
The company is also accredited to the ISO/TS 16949:2009 automotive manufacturing standard.
Bryan Kazmer, VP and general manager of Vi-Chem, said consolidating the companies will create a “broad portfolio” of products for customers.
Juve said Americhem looks forward to providing further resources to expand the business geographically and also into Americhem's other vertical markets.
“This is about bringing continual innovation and broadened solutions to our customers across the globe,” Juve said.
John Deignan, president of Americhem, said the Vi-Chem purchase is strategic and “further expands our automotive portfolio of products and services.”
“The automotive and transportation industry is already one of the pillars of our business, and this move adds capabilities and technological innovations that will benefit Americhem Group’s customers and the industry as a whole,” Deignan said.
Americhem Group’s portfolio includes Americhem color and additive solutions, Infinity LTL engineered compounds and now Vi-Chem TPE and PVC compounds.
The group employs about 800 people across 10 manufacturing and technical service sites across the Americas, Europe and Asia.


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Tech news for this week was dominated by Apple's earnings. Apple's staggering 35 million iPhone sales in Q2 offered a major shot in the arm after an unusual – for Apple – drift in its share price. Estimize consensus was looking for an iPad driven quarter which probably means Apple has kept this one in the bag for later! The 'feel good' factor of its earnings extended into the broader market when Tech stocks enjoyed a moment in the sun.
However, two Tech stocks brought to my attention from the crew at HCPG were Akamai Technologies (NASDAQ: AKAM) and NetEase (NASDAQ: NTES). Unfortunately, Akamai took a major hit on earnings after a strong seven months, but this may not be the killer it might otherwise be. While NetEase has been steadily climbing since breaking past its $50 overhang and is currently pressuring $60, although recent trading volume has been light.
Akamai is an interesting beast. Monday's earnings focused on its lower-than-expected Q2 guidance which overshadowed its positive Q1 results. The earnings pattern may mirror 2011, which if treated as expected will surprise if the company reports a stronger quarter-on-quarter. Executive departures have added another layer of uncertainty into the mix which has pushed the stock into the 'unwanted' category, but is this opinion justified?
According to Insider Cow:
LEIGHTON F THOMSON, director officer (Chief Scientist) of AKAM recorded the purchase of 100,000 shares of AKAM at $33.14 (total of $3,314,000) today.


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Newly revealed figures have detailed a huge rise in car thefts in the UK over the last five years, coinciding with the mass adoption of keyless car entry and start.
Some 48.7 per cent more cars were reported stolen in the most recent year on record versus the one five years previous. In the British 2017-18 financial year, which runs from 6 April to 5 April the following year, 111,999 cars were reported stolen compared to 75,308 in 2013-14.
The latest numbers equate to one car being stolen every five minutes. Recent years have seen a vast rise in the number of cars equipped with keyless systems that can be exploited with simple ‘relay theft’ technology, allowing the cars to be driven away without causing any damage to them. They can then be stripped and sold for valuable parts around Europe.
The RAC’s insurance director, Mark Godfrey, is quoted as saying the figures were “very disappointing.” He added:
“[This is a] depressing picture of a society where it is all too easy for gangs of thieves to break in and steal vehicles.”
Relay theft usually involves a pair of thieves, one of whom stands by a house’s front door with a transceiver that locates the proximity signal from the car’s actual key. The second simply stands by the car with another device that relays the signal again, fooling the car into thinking the genuine key is nearby. The door opens obligingly.
The same process allows the car to start, after which it can be driven away to wherever it’s being stripped, or, more usually, an enclosed box van or truck nearby that hides the stolen car from number plate recognition cameras and keeps the location of its final destination - and the journey route - secret.
The best way to prevent the theft is to keep the key in a central location in the house, well away from outer walls, or inside a signal-blocking wallet or box.
Research carried out by Auto Express found that less than half of the vehicles reported as stolen are recovered. Secure your ride, people!


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This week’s news includes; Apple hits $1 trillion, UK inflation rates on the rise, Amazon’s UK tax bill, House of Fraser rescue deals fall through , Lidl begins house building
Below are our top 10 stories that you need to know about. Be sure to check our twitter page and Facebook page for regular posts of important headlines. Get all the important stories and insights straight into your inbox by subscribing to our mailing list here.
Opinion articles of the week:
- Investopedia “Morgan Stanley Says Biggest Correction Since Feb Looming”
- CNN explains How Amazon Could Start Managing Money
- Bloomberg Is the Facebook flop a sign of market trouble to come?
- City A.M Curb your scepticism, cryptocurrency can solve society’s problems.
1. APPLE HITS $1 TRILLION
Apple’s strong financial results boosted its share price, making it the world’s first trillion dollar company. Apple’s share price hit a new high of $207.04 to take its market capitalisation above $1,000,000,000,000.
Apple’s closest competitor in terms of market cap is Amazon, valued at $866 billion. Despite the $140 billion gap seeming large, the competition for $1 trillion was quite close. In the first 6 months of 2018 alone, Amazon’s market cap has risen by over $260 billion. (City A.M)
Apple owes its success to strong financial figures boosting investor confidence. In the last quarter, Apple missed unit sales figures estimates but revenue was higher than estimates due to selling more expensive iPhones. In the last quarter, Apple sold 41.3 million iPhones, lower than analysts’ expectations. Despite this, total revenue however, rose 17% to $53.3 billion. This was fuelled by the success of its most expensive model, the $999 iPhone X. It boosted average iPhone price was $724, $30 above estimates. Apple has however, fallen to the 3rd largest smartphone seller, behind Samsung and Huawei. Despite lower sales figures, it is the world’s most valuable private company by market cap.
BBC News looks closer at Apple’s remarkable growth.
2. US – CHINA TRADE WAR
China has announced that it will impose tariffs on $60 billion worth of American goods. This move is in retaliation to Trump’s latest issue. The tariffs will range from 5%-25% across over 5,000 different products. China has acknowledged that there are no winners in trade wars. Donald Trump has threatened to impose tariffs on a total of $200 billion worth of Chinese products if China continues to retaliate. The total value of all Chinese imports in 2017 was $500 billion.
Trade war tensions are escalating at an alarmingly quick rate. The effects of the trade war are already being felt by businesses and consumers. The US has already had to issue $12 billion in subsidies to support its farming industry who have been rocked by the tariffs. Coca Cola has had to raise the price of some of its canned drinks due to increased aluminium costs. The Chinese government has been forced to step in to stabilize their currency, the yuan. They impose a reserve requirement of 20% on Forex forward trading. It practice, this makes it more expensive to short sell the currency, providing some price stability.
There has been minimal communication on both sides but there is an expectation that talks. The longer the trade war continues, the more damaging it will be for businesses and consumers. (BBC News)
3. UK INTEREST RATE RISE
The Bank of England has increased interest rates to 0.75%. This is up from 0.5% and is the highest rate since March 2009. The decision to raise rates was unanimous amongst the bank’s nine members of the Monetary Policy Committee. The Bank of England claimed the increase was necessary due to rising wage pressure caused by low unemployment. Unemployment currently stands at 4.2% the lowest rate in over 40 years. The bank also hopes to reign inflation in closer to it’s 2% target. Higher interest rates will temper consumer borrowing and spending, lowering price hikes.
The decision has been criticised as many feel this rise was premature. There is still significant economic uncertainty around Brexit and no deal scenario is becoming likely. Given the economic fall out that could occur in the event of no deal, critics argue the BoE should have waited for more clarity before hiking rates. The bank has however, stated that if there was Brexit-induced economic difficulty, it would lower interest rates again.
4. AMAZON TAX BILL
Amazon’s UK tax bill has nearly halved despite posting record profits in the last quarter. In the past year, Amazon’s UK business pretax profit tripled to £72 million yet its corporation tax bill fell from £7.4 million to £4.5 million. Revenue from Amazon’s UK retail sales are reported through a separate Luxembourg based entity. Tax is however, based on profits, not revenue.
Amazon has a company share scheme where employees, which significantly lowers its tax bill. The value of shares given to employees is deducted from its taxable profits. Amazon’s share price has soared and employees received £125 million worth of Amazon shares last year. Amazon currently employs over 27000 people in the UK.
Critics argue that Amazon should be paying more tax given its nearly £2 billion UK turnover. Amazon affirms that it is paying all taxes required in the UK. In 2015, Amazon also committed to stop using tax avoidance structures that divert sales and profits out of the UK.
For more on Amazon’s tax arrangements read The Guardian’s report.
5. DIXON CARPHONE DATA BREACH
The Dixon Carphone data breach is now much worse than previously thought. The company has announced that 10 million people have been affected by the breach that took place in 2017. Names, addresses and email addresses were all accessed by hackers. In June, Dixon Carphone announced that 1.2 million people’s personal data was affected.
Over 5.9 million credit card records were accessed but practically all cards were protected by chip and pin, preventing fraudulent use or access to details. There has been no evidence of any fraud occurring, directly resulting from this breach. The concern is that individuals whose personal data has been accessed are now at risk. Considering the investigating is still ongoing and the initial estimate was 10 times too small, further complications would not be unlikely. (BBC News)
6. HOUSE OF FRASER RESCUE DEAL FALLS THROUGH
A potential buyer for House of Fraser has abandoned its bid, throwing the future of the department store in jeopardy. Chinese firm C.banner had initially planned to takeover House of Fraser and inject new cash into the business. The rescue package would have seen a £70 million cash injection with the closure of 31 out of 59 stores and the loss of 6,000 jobs.
C.Banner had planned to follow through with the rescue deal but it is facing significant financial issues of its own. Its share price has fallen 70% in the last two months and it recently issued a profit warning. Analysts claim that the only hope of survival for House of Fraser is a merger with Debenhams. The sector is in desperate need of consolidation due to the significant overheads and falling customer footfall. House of Fraser currently employs 17,500 people in the UK. (The Guardian)
7. NEWSPAPER PROFITS SLUMPS
Reach, formerly known as the Trinity Mirror posted a £113 million lost in the first half of 2018. Reach owns the Daily Mirror, the Sunday Express and Star tabloid newspapers. The poor sales were blamed on an increasingly challenging market. Sales of all its newspaper over the first half of 2018 were down by between 9 and 16%. Overall, the UK tabloid was down by 9.3% on average. and Express Shares fell 2.6% in response to the news.
The company has had to cut operations to make £20 million in savings. The company is seeking to adapt to the digital age. Competitor Johnston Press which owns the Scotsman and the Yorkshire Post revealed a £95 million loss for the year 2017-18.
8. DEUTSCHE BANK MOVES ACTIVITIES TO FRANKFURT
Deutsche Bank has announced that it will be moving half of its euro clearing activities from London to Frankfurt. This is however, not a shift of jobs, only operations. Transactions will be cleared through Deutsche Borse’s clearing house in Frankfurt rather than the London Stock Exchange’s clearing house. This shift is in relation to clear of euro-demoninated interest rate derivatives. The London Stock Exchange’s LCH was a market leader for these derivates, clearing 1 trillion euros worth of deals every day. (Investment Week)
Deutsche Bank’s is notable as its another example of how businesses are adapting amid uncertainty about Brexit. A number of big banks have announced plans to shifting operations out of the UK due to Brexit. The total number of job losses are not however, expected to be as severe as first thought.
9. LIDL TO BUILD NEW HOMES
Move aside politicians, supermarkets will solve our housing crisis. Supermarket Lidl has announced plans to build 3,000 homes and a primary school. This is a new tactic to gain planning permission to build new stores. With development space particularly scarce in London, supermarkets are increasingly seeking alternative ways to expand.
Lidl has only built 335 new homes but It plans to increase investment in mixed use spaces. This move is certainly the most ambitious carried out by a supermarket to date. Deer Park primary school will now be located above a Lidl stores. It will have outdoor spaces with room for football and hockey. The school is under construction and will be completed next year.
Lidl hopes to open 50 stores a year and hopes to double its number of stores to 1,500 in the long term. Lidl is one of the fasting growing supermarkets, increasing its market share by 2% in the last 3 years. This new tactic of property development is likely to help it achieve its ambition. All the biggest 4 supermarkets have adopted this tactic to date. Morrison’s already built 600 homes during its redevelopment of its Camden store. (The Guardian)
10. E.ON JOB CUTS
Energy firm E.On has announced it will cut up to 500 jobs in the UK. The company is seeking to make £100 million in savings to improve profitability and sustainability. Bosses of the firm claim these cuts will make the business more agile and better equipped to deal with the challenges of the UK energy market. The complete plan for the locations of the cuts has not yet been finalised. E.On currently employs 9,400 across the UK.
E.On is one of the UK’s big six energy companies along with British Gas, N-Power, SSE, Scottish Power and EDF. In November 2017, SSE and N-Power agreed plans to merge to create the UK’s second largest energy supplier, behind British Gas. The deal is still awaiting approval from the Competition and Markets Authority. A decision is expected by the end of 2018/early 2019. (BBC News)