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Charlie Elphicke is the Member of Parliament for Dover and Deal. Follow Charlie on Twitter.
Late payment is a big issue for small businesses. It costs jobs. It drives companies under. It harms growth. My last article looked at steps the Government is taking to get the public sector paying on time. In this article I am focussing on what more can be done to get the private sector, especially big businesses, paying on time. It’s a good move for the Government to ask big businesses to sign up to a voluntary code, yet further action should be taken.
For example, and as I argue in detail below: reform the Late Payment of Commercial Debts Regulations, tighten up the Prompt Payment Code so signatories must pay within 60 days and, more radically, set up a “Bank of Prompt Payment” to chase big businesses for late payments without repercussions on small businesses.
Small businesses need to maintain cash flow in order to stay afloat. They lack the cash reserves which big businesses have. So it’s a real concern when large businesses fail to pay smaller businesses on time. In the most recent Federation of Small Businesses (FSB) survey, 57% of small businesses reported late payments from other businesses. This was almost double the previous survey which showed 34% of small businesses suffering late payments from other businesses. More importantly, the figure was 60% when it came to big businesses.
The Government, as suggested by the FSB, is encouraging big businesses to sign up to the Prompt Payment Code. It is using the threat of naming and shaming to encourage businesses to join, and it has had real success with this campaign. Over 75% of the FTSE 100 have signed up to the code, and the number of FTSE 350 companies signed up has tripled.
Yet the Prompt Payment Code is no silver bullet - especially as signatories only have to pay within the time period set out in the contract. This has led to stories of big businesses which are Prompt Payment Code signatories, including long payment periods in their contracts. One company is said to have introduced 120 day payment terms in their contracts. That’s four months. Firms are able to access payments earlier than this, but are subject to a fee. Such moves may be within the letter of the Code, yet are clearly against its spirit and are totally unacceptable.


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Toyota announced last week that it is moving its North American headquarters to Texas. The shift, which made headlines across the country, might seem similar to what Honda did last year, much more quietly, when it moved top managers to Ohio. But a closer look shows the two situations have little in common.
Toyota announced last week that it is moving its North American headquarters to Texas.
The shift, which made headlines across the country, might seem similar to what Honda did last year, much more quietly, when it moved top managers to Ohio.
But a closer look shows the two situations have little in common.
Toyota’s pending move to Plano, Texas, includes about 4,000 employees and the declaration of the new offices as a headquarters.
That is a larger undertaking in almost every way compared with what Honda announced in February 2013.
Honda said it was moving up to 50 top managers and support staff to Marysville. This included Tetsuo Iwamura, then the top sales executive, who was moving to Ohio in a new role that would oversee the top managers in all divisions.
Since then, Iwamura has moved on to a different job within the company. His replacement as the top executive in North America, Takuji Yamada, has a residence in California and is not officially based at any single Honda office, the company has said.
In the 14 months since the announcement, only about a dozen Honda employees have moved from California and other locations to Ohio.
“This is still evolving,” said Honda spokesman Ron Lietzke. “We anticipated at the time that it would be fewer than 50, and it has been.”
For decades, the three largest Japanese automakers — Honda, Nissan and Toyota — had major offices in southern California. Even as they opened manufacturing plants elsewhere in the country, the companies kept a major presence in California.
This began to change in 2005 when Nissan said it was going to build a North American headquarters near Nashville, Tenn., and relocate more than 1,000 employees from California.
Toyota’s move is a similar, though much larger, version of what Nissan did. Both of the companies received, or stand to receive, state and local aid packages connected to the relocations.
Honda is choosing a different path, without attention-getting announcements.
And that’s exactly what central Ohio economic-development leaders say they have come to expect and appreciate from the automaker.
“What you’re seeing is, Honda is quietly moving and growing its presence in central Ohio,” said Alex Fischer, president and CEO of the Columbus Partnership, a coalition of the region’s major employers; Honda is a member of the partnership.
“Like you’ve seen it for 30 years, Honda does it with a low-key style and without attempts to hold states and communities hostage.
“They are the model corporate citizen from an economic-development standpoint. I’m not sure what more we could ask them to do,” he said.
Fischer has some experience dealing with automaker relocations. He was a top adviser to Tennessee’s governor when that state negotiated Nissan’s move.
Nissan and Toyota both declared their new offices as North American headquarters. If Honda did that in central Ohio, it would be a highlight for elected officials and economic-development leaders.
But, the difference would be largely semantic, some of those same leaders say. In many ways, central Ohio is already the headquarters, even if Honda doesn’t describe it that way.
The company has 14,200 employees in Ohio, most of them at plants in Marysville, East Liberty, Anna and Russells Point. Its North American research and development office is based in Raymond.
When Honda made its announcement last year about moving its management, the company’s aim was to get its top managers to communicate more effectively and have more decision-making take place in North America as opposed to at the world headquarters in Japan. That plan and those goals remain in effect, Lietzke said.
At the same time, Honda intends to maintain its sales and marketing office in Torrance, Calif. That is the office where Iwamura was based before he relocated to Marysville.
Torrance, which is in the Los Angeles metro area, is also home of the office Toyota is leaving for Texas.
Toyota’s announcement has stung California leaders, who are losing a major employer. It is also a major disruption to the employees, many of whom probably will decide not to make the move, said Ed Kim, an analyst for AutoPacific in Tustin, Calif.
If employees choose not to move, it would be an opportunity for Toyota to reduce its payroll without resorting to layoffs, he said. Toyota, like Honda, prides itself in never laying off employees.
“It helps them readjust the structure of their ranks,” Kim said. “It allows them to thin out the middle management.”
As for Honda, he thinks last year’s announcement might end up being a step toward a larger move to Ohio at some point, but nothing more than that.

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ARB Corp: Result 2012
Sales and profit growth in 2012 was lower than shareholders might have come to expect. But this wasn't without a valid excuse, explains Gareth Brown.
ARB Corporation Limited ARB
Four wheel drive accessories group ARB Corporation announced what, at first glance, might seem a disappointing result for the year ended 30 June 2012. The stock fell more than 3% today in response.
Sales for the year rose 5.7% to $268.7m, quite low growth from a company used to reporting double-digit annual revenue growth over the past few decades. Net profit rose a lesser 1.7% to $38.5m, while directors declared a fully franked final dividend of 14 cents per share (up from 13 cents last year), bringing the yearly total to 25 cents.
But, as always, context matters.
- Sales growth subdued by natural disasters in Asia
- Underlying growth still present, though boosted by resources boom
- Andrew Brown takes the CEO reins from brother Roger
As outlined in previous reviews, two natural disasters—the Japanese earthquake and tsunami of March 2011 and the Thai floods that peaked in late 2011—greatly curtailed the inflow of new four-wheel drive vehicles into Australia, the company’s most important market. Sales didn’t recover fully until April 2012.
The effect is obvious in the results—sales growth of 5.7% for the full year consisted of 2.3% growth in the first half and 9.3% growth in the second half, by our calculations. And the bulk of that second half growth occurred in the last three months of the year. New four-wheel drive sales in Australia for the three months ended 30 June 2012 were up 29% on the same quarter last year (in contrast, sales for the nine months to 31 March 2012 were up 3%). This resulted in fourth quarter ‘demand for ARB products which exceeded the Company’s capacity to satisfy.’ It looks like 2013 should be better than 2012.
Of course, our longer-term concerns remain. We suspect the company is increasingly reliant on the mining boom, and shareholders should expect a few years of sub-par growth if (when?) that boom to comes to an end.
|Year to 30 June||2012||2011||Change (%)|
|Net profit ($m)||38.5||37.9||1.7|
|* Fully franked final dividend of 14 cents|
But cyclicality might also bring opportunity. A lower Australian dollar (likely in any resources slowdown) would help boost the company’s export opportunities, which have been curtailed in recent years by the high-flying dollar.
The company continues to spend on research and development for new products and is also expanding its Thai facilities to accommodate future growth. Financing is near-bulletproof and the company has the wherewithal to see it through just about any downturn, with $33m of net cash on the balance sheet.
In other important news, chief executive Roger Brown has relinquished the reins to his younger brother Andrew, while retaining the chairmanship. We expect a seamless transition given that Andrew has worked at the company for decades and has been effectively performing much of the CEO role for some time. We’ve always considered their management a duet rather than a solo act. The group has also added three new senior appointments, reflecting growth in the organisation and perhaps making early preparations for the post-Brown era.
ARB Corporation is an extremely high quality smaller company, and nothing in the 2012 results changes that. The only reason the stock isn’t on our Buy list is price.
The stock isn’t as ignored as it once was, and we’re not convinced that the rest of the market has cottoned on to the increasingly cyclical tint to the company's growth in recent years. We’ve adjusted upwards the recommendation guide slightly, reflecting another year of growth, and we look forward to having the opportunity to upgrade again. But, with the stock up 5% since 1 Mar 12 (Hold – $8.75), for now ARB Corporation remains a (very comfortable) HOLD.
Note: The Growth portfolio owns shares in ARB Corporation.


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By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Tokyo — JVC Kenwood reported lower net sales and net income in its fiscal year, which ended March 31.
Net sales were 306,580 million yen, down from the prior year’s 320,868 million yen. Net income was 1,146 million yen, down from the previous year’s 6,032 million yen.
Car electronics sales were 100,548 million yen, down from the previous year’s 107,281 million yen. Operating income was cut to 2,494 million yen from 6,346 million yen.
Home and mobile electronics net sales were 68,793 million yen as compared with the prior year’s 77,545 million yen. Operating income was 1,053 million yen, down year on year from 1,730 million yen.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.


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Rise in car production helps US manufacturing figures
Factories continuing to rebound toward pre-pandemic output and strength
US production of motor vehicles and parts jumped 5.3 per cent per cent the first increase in four months. Photograph: Reuters
US manufacturing output rose by more than forecast in November thanks to a boost in car production, helping factories continue to rebound toward their pre-pandemic capacity and strength.
Output at factories increased 0.8 per cent from the prior month after an upwardly revised 1.1 per cent gain in October, according to Federal Reserve data on Tuesday that compared with economists’ estimates for a 0.4 per cent rise.
Total industrial production, which also includes mining and utility output, advanced 0.4 per cent in November after a 0.9 per cent increase a month earlier.
Production of motor vehicles and parts jumped 5.3 per cent , the first increase in four months. Excluding car production, factory output increased 0.4 per cent. Manufacturing has been on a steady, albeit gradual, path to recovery since the pandemic upended production and supply chains in March and April.
A separate report on Tuesday showed manufacturing in New York state expanded at a modest pace in December, though companies remained optimistic about future business conditions.
While growth may decelerate as the surge in Covid-19 cases weighs on the economy, still-lean inventories paired with solid demand for goods will continue to support the industry.
Even with the latest improvement, the Fed’s index of manufacturing remains about 3.6 per cent below its February level. Employment in the sector has improved for seven straight months, though manufacturing payrolls are about 600,000 lower than before the pandemic.
Manufacturing capacity utilisation rose to 72.6 per cent from 72 per cent, while total capacity utilisation, including factories, mines and utilities, increased to 73.3 per cent.
That rate compares with 76.9 per cent in February. Unused capacity weighs on corporate profits because capital is underutilised. Utility output fell 4.3 per cent in November on lower-than-usual demand for heating because of warmer temperatures. Mining output increased 2.3 per cent.


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Due to the impact the current COVID-19 pandemic has had on the process involved with the reporting of events directly related to the coronavirus, MedDRA MSSO have released guidance for organisations with reporting responsibilities to follow when using appropriate terms within the database.
In summary, MedDRA has acknowledged the need for a focussed approach to reporting events caused by COVID-19, and have therefore commenced updating the MedDRA database for the inclusion of coronavirus specific terms – with several appropriate terms already successfully applied and more additions to follow.
Whilst this is a progressive step in combating the impact COVID-19 has had on the industry, through standardising the reporting procedure, these terms will not become available until the version 23.1 database upgrade becomes available in September, 2020.
Moreover, MedDRA MSSO have advised organisations to continue using existing and generic terms when reporting events which are related to COVID-19 specifically, with examples of these terms available within the current database version 23.0 – shown within their guidance document.
Additionally, MedDRA MSSO have asked for any additional, appropriate coronavirus related terms, that are yet to be included, to be submitted to WebCR for their consideration.
Regarding further announcements, MedDRA MSSO have communicated that further updates, regarding additional new coronavirus specific terms, will be provided before the official release of version 23.1.
The MSSO have reacted quickly to this global situation to enable Companies to record quickly and accurately the terms, signs and symptoms to be used for COVID-19 events. Since this is an evolving situation, terms will require reporting to the MSSO for possible inclusion for the next version.
PharSafer will continue to monitor these updates from MedDRA MSSO directly and inform you of any future notifications as we receive them.
To gain further updates quickly, why not follow PharSafer on LinkedIn.Share this News item:


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Fairland is a company that specialises in development, manufacture and supply of smart robots technology for gardens and the outdoors. In this interview, Terrence Liu, the European Area Manager, explains how innovation plays a key role in asserting his leadership within the industry, an innovation that will without a doubt be one of the highlights of the next edition of the Piscina & Wellness Barcelona trade fair.
1. Sustainability and electric energy savings are crucial within the industry. In this regard, what is Fairland doing as a company and with the products it manufactures?
As a company, Fairland commits to providing energetic efficiency and sustainability through the reduction of energetic consumption and greenhouse gas emissions. Fairland products are designed to meet or exceed industry standards on energy saving. In addition, Fairland also focuses on environmental sustainability in its manufacturing processes, making an effort to reduce its carbon footprint and minimise waste. We use environmentally friendly materials whenever possible.
2. The world’s economic situation, the rise in prices and the complex raw material supply situation are significant challenges. How do you view the future of the industry?
The global energy crisis and inflation imply big challenges for factories. This could lead to higher prices for the consumer and smaller profit margins for the manufacturer. Companies may need to start finding ways to sustain their technological innovation, optimise supply chains and reduce costs.
However, I think change towards a manufacturing process that is environmentally friendly and the growing demand for personalised products will boost the industry’s growth in the long term. Manufacturers must invest in innovation to stay at the forefront and meet the demands of consumers.
3. Evidence of the importance of innovation in Fairland is the over 100 international patents that have been registered. How do you approach innovation?
Fairland has always positioned itself as a technological, innovative company. Every year, we make a significant investment in R+D, taking several aspects into account:
- Promoting creativity and experimentation among employees to foster new ideas.
- Collaborating with other companies, research institutions or new companies to harness their experience and resources.
- Carrying out market studies to identify customer needs and weak spots that may be tackled through innovation.
- Adopting agile and flexible processes that allow for fast iteration and adaptation based on client feedback and the changing market conditions.
4. As European Area Manager, do you see differences between the European market and other markets, such as Asia or America?
The European market has been developing for decades, the industry is more mature and there are many relevant “players.” For this reason, there is greater competition, and unique, technical products are more necessary for this market.
Inverter technology is in its early stages of rapid growth within the Asian and American markets, and more and more competitors are starting to pay attention to these areas, which I think will undergo significant growth over the next few years. In this regard, Fairland will launch new products for these markets.
5. Among the latest news the company has released is the 20x savings iGarden solution. What are the benefits of this new technology?
Fairland wants to promote energy saving in outdoor robots, thus providing the best outdoor life experience. With this solution, the user can get energy savings that are 20 times higher and quieter through the InverX20 pool heat pump, as well as enjoy the 20 hours of runtime through the InverX pool cleaner robot and reduce the energy bill with the iGarden solar system.
6. What new products are you working on?
Next year we are officially launching the InverX20 heat pump with COP 20, we are hoping to redefine the COP 16 standard set by Fairland 8 years ago. In the meantime, we are launching the wireless and smart pool cleaner robot, with a 20-hour battery life, which we think will revolutionise the industry.
7. The next edition of the Piscina & Wellness Barcelona trade fair will take place on 27 to 30 November. What are you expecting to see at the biennium fair and what are you bringing to the table?
In our case, it will be an opportunity to meet with old partners, hear their demands and share information. Simultaneously, we want to learn about the latest technology and explore future development trends.
Fairland will present the iGarden solution, including the latest pool heat pump, the wireless cleaner robot, the solar system, and other new products.
Cristina Benavides, Piscina & Wellness Barcelona associate


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The Association of Convenience Stores (ACS) has called for more ambition from the government in delivering the recommendations to save the high street set out in the Portas Review.
In its submission to the UK Retail Sector Inquiry, undertaken by the Business Innovation and Skills Select Committee, the ACS has highlighted the areas of rising business rates, planning policies and parking charges for the government to take action on.
ACS chief executive James Lowman said: “Business rates continue to punish high street retailers even though more and more are closing down; strong national planning rules are not stopping enough investment slipping away from centres and parking policies continue to be about revenue raising rather than creating access and footfall in our centres.”
Lowman praised the work already done but urged for more action. “Nearly 18 months ago the government was given 28 recommendations by Mary Portas as part of her High Streets Review,” he said. “They have made substantial progress but only in a limited number of areas, mostly related to funding and encouraging local initiatives such as town teams.
“Government needs to do more to grip the policy challenges Portas set out. We urge MPs to reinforce the message that the retail sector will only thrive if there is a co-ordinated committed action across government.”


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This is Jessica Dolcourt coming to you from CTIA 2013 in Las Vegas.
Sprint has just announced a new trio of tri-band hotspots.
That means, that you're gonna have much better coverage indoors and outdoors and you've got a greater chance of getting a signal.
This one is called the Netgear Zing.
It's called a full-LCD touchscreen and it is the first for Sprint with international support.
That means if you're leaving the country, say out of business trip or something like that.
You can have Sprint provision it to work in another country.
There's also a MiFi from Novatel.
This is a pretty chunky device but pretty light.
This also does LTE.
In fact, all three of them do and that's got a little touchscreen as well.
Then there is a little Netgear USB plug-in, so people like this because it offers just a little bit more security.
All three of these tri-band devices will be available sometime in the summer and there's no pricing yet.
I'm Jessica Dolcourt for CNET.
You can catch all of our CTIA News at cnet.com


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According to the British Egg Information Service, the latest studies have suggested that adolescent teenage girls who eat an egg a day give themselves added protection against developing breast cancer in later life; that including an egg a day in the diet can help to keep weight down; and eggs have also been cited as an ideal weaning food.
The service claims it is now acknowledged that for most of the population, eating an egg a day has no significant effect on blood cholesterol levels.
Worrall Thompson said: “Eggs should be in everyone’s store cupboard and yes, they should be part of our daily diet.”
Dairy Crest has launched what it described as new and simplified milk contracts with extra benefits for both farmers and processors.
The dairy group has launched two new contracts, one for suppliers to liquid dairies and the other for suppliers to manufacturing creameries. It said the move would replace 20 current milk supply contract variations with over 50 different prices.
Key aspects of the contracts are expectations that suppliers deliver high quality farm-assured milk and a flatter profile of production.


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Seems the privacy advocates see Google as ‘evil’. Or at least the animated cartoon aired by Watchdog on the Times Square jumbotron suggested that yesterday. The clip below shows Google CEO Eric Schmidt gathering information from children as they attempt to buy ice cream from his Google truck.
The Watchdog site – insidegoogle.com – asked: “Do you want Google or any other online company looking over your shoulder and tracking your every move online just so it can increase its profits?”
The site is against the new retargeting program Google has added to its marketing options – that allows people to be tracked beyond their initial interaction with a website, watching them as they move about the web.
“This avatar-style animation video was created to draw attention to Google CEO Eric Schmidt’s lack of regard for our online privacy. Consumer Watchdog is promoting the video right now, 36 times per day, on a jumbotron in Times Square — the most highly-trafficked public square in the nation.
It’s time to create a ‘Do Not Track Me’ list to prevent online companies from gathering our personal information, just as Congress had the Federal Trade Commission create a Do Not Call list to prevent intrusive telemarketers from invading consumers’ privacy,” Jamie Court, President of Consumer Watchdog wrote.


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Blockstream has announced it will release an open source codebase and testing environment for its signature sidechains project.
Called Sidechains Elements, the launch is the first major release for the bitcoin startup since it published its white paper last fall. According to Blockstream, the code will allow community developers to experiment with sidechain functionality, with initial features allowing users to transact and issue digital assets.
The release comes months after Blockstream raised $21m in seed capital from investors including Reid Hoffman, Google chairman Eric Schmidt’s Innovation Endeavors and Yahoo co-founder Jerry Yang’s AME Cloud Ventures.
In interview, Blockstream co-founder and president Dr Adam Back expressed hope that the release of Sidechains Elements would drive community members to contribute to the initiative.
Back told CoinDesk:
Sidechains are blockchains designed to integrate with the bitcoin blockchain by way of two-way pegs, allowing for the transfer of assets between the two networks. The project has been heralded as a potential solution to bitcoin's perceived scalability issues for its attempt to enable experimentation on bitcoin's code.
Currently, the sidechain made available for developers utilizes testnet coins rather than real bitcoins, and the decentralized peg only allows for two-way transactions between the bitcoin testnet and the sidechain testnet.
Next phase of development
According to Back, the release of Sidechains Elements will help contribute to the next phase of development: putting the code into the hands of entrepreneurs and institutions looking to utilize sidechains.
He cited banks in particular as one group of interested parties, which he noted are interested in the ability to issue and distribute assets on the blockchain, as well as provide infrastructure for what Back called “new kinds of markets”.
“This sidechain release and releases and features to follow will be a good implementation point for those kinds of projects,” he said.
Back pointed to the confidential transactions feature as one of the more notable aspects of the release, suggesting that the concept can help bring a new degree of privacy to bitcoin. Those who use the feature would be able to obscure the amount being sent from parties outside of those actively involved in the exchange or selected third parties.
A major step to come is the drafting and submission of a new Bitcoin Improvement Proposal (BIP) that will call for sidechain functionality to be added to bitcoin’s codebase.
If approved, the addition to bitcoin’s code will enable the decentralized two-way peg and the ability to merge-mine sidechains with bitcoin. According to Back, the changes would require a soft fork of the network rather than a hard fork.
The startup is also planning to conduct a Reddit AMA featuring Blockstream co-founder and bitcoin core developer Gregory Maxwell and other members of the Blockstream team following the release.
Numerical image via Shutterstock
Correction:The two-way peg currently allows transactions between the bitcoin testnet and the sidechain testnet, rather than solely from the bitcoin testnet to the sidechain testnet. This article has been updated accordingly.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.


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Detroit's cannabis retail rollout back in action
Detroit is closer to allowing recreational cannabis sales within its borders.
Why it matters: A judge dismissed two lawsuits Tuesday that sought to prove the city's equity-driven cannabis licensing ordinance was unfair.
- In the face of criticism over Detroit's extremely slow recreational cannabis rollout — while the suburbs have benefited from the industry for years — the court has acknowledged the city is right, Council President Pro Tem James Tate said at a news conference yesterday.
What's happening: Litigation halted the city's business license application process for cannabis retailers and consumption lounges that were finally supposed to open Aug. 1. Now, after the dismissals, that application process resumes today.
- The city can award licenses for 40 retailers, 10 microbusinesses and 10 consumption lounges in the first of three rounds of application intake. Half the licenses will go to "social equity" applicants.
- The dates for the second and third rounds have not been announced.
Yes, but: The city has yet to hire the independent vendor needed to score these applications, though it says the process is in progress.
What's next: The city is ready to roll out a program giving longtime Detroit residents help accessing pricey real estate to open cannabis businesses, according to officials.
More Detroit stories
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Get a free daily digest of the most important news in your backyard with Axios Detroit.


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Apple has revealed that it will be ditching “Do Not Track” in the upcoming version of its browser, Safari 12.1. The company will instead focus on Intelligent Tracking Prevention with the inclusion of new permission requirements. Originally introduced in 2017, Intelligent Tracking Prevention is a part of Apple's efforts to block third-party trackers from capturing cross-site browsing data for ad targeting purposes. Do Not Track (DNT) has been seen as a big failure with most of the websites not following the signal sent by Web browsers.
Do Not Track is supported by pretty much all major Web browsers as a voluntary signal that is sent to websites to disable their tracking or cross-user tracking. The signal was first proposed back in 2009 by the researchers, but it only started making its way to Web browsers in 2011 with Firefox becoming the first Web browser to include the feature. Internet Explorer, Safari, Opera, and Chrome later added the support. Given the voluntary nature of the signal, the websites aren't actually forced to follow it and they hardly do. Even if you have enabled Do No Track in every browser that you use, chances are you are still getting tracked by a large portion of websites. The efforts to standardise Do Not Track by the World Wide Web Consortium (W3C) too ended last year in September.
Apple is becoming the first major browser developer to remove the support for Do No Track. The feature is already missing from the latest beta version of the iOS 12.2 and macOS 10.14.4.
“Removed support for the expired Do Not Track standard to prevent potential use as a fingerprinting variable,” Apple writes in the release notes for Safari 12.1.
As part of its Intelligent Tracking Prevention implementation in Safari, which is not voluntary, Apple has removed support for partitioned cookies for domains with cross-site tracking capabilities and the Storage Access API now provides third-party access to cookies. It will also limit long-term tracking.
Apple's decision to ditch Do Not Track was first spotted by DuckDuckGo, which has released a survey on Do Not Track that revealed that 41.4 percent of the respondents in the US did not know that DNT is a voluntary signal.


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CHICOPEE, Mass. (WWLP) – Valentine’s Day is a popular time for getting engaged. Many of those couples visit jewelry stores in search of rings.
Second generation Chicopee Jeweler Eddie Sayegh has already seen some of those newlyweds to be. But Valentine’s Day is about more than just romantic love.
“It’s a day that you show your love to those you want to,” Beverly Howell says, “and to me, It means buying valentines for five grandchildren.” Jeweler Eddie Sayegh told 22News silver items are very popular valentine’s day gifts. He said many of these gifts cost under $150.


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Yokohama Tire Corporation was recognized by Subaru of Indiana Automotive (SIA) with a supplier’s award in the Excellent Performance category
Sponsorship will highlight the tire maker’s rugged GEOLANDAR® line. Yokohama will also be supporting several short-course off-road teams.
From now through June 30, consumers can earn up to $100 in the form of a Yokohama Visa® Prepaid card after purchasing a set of four select Yokohama tires.
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PARIS — Carrefour SA reported sales fell 3.7 percent in the first quarter, due to a combination of currency effects, an unfavorable calendar resulting from the lag in the Easter holiday this year and a drop in petrol prices.
The world’s second-largest retailer behind Wal-Mart Stores Inc. registered sales of 19.79 billion euros, or $27.11 billion at average exchange, in the three months ended March 31.
“Overall, Carrefour posted a solid performance in the first three months, showing sustainable momentum,” the retailer’s chief financial officer, Pierre-Jean Sivignon, told analysts during a conference call Thursday, noting organic sales grew 3.7 percent excluding petrol and calendar effects.
Sivignon declined to comment on a question about Motier, the holding company of the family that owns Groupe Galeries Lafayette, buying a 6.1 percent stake in Carrefour.
Carrefour’s domestic sales in the quarter fell 0.9 percent to 9.23 billion euros, or $12.64 billion. On an organic basis, without petrol or calendar effects, revenues in France rose 1.4 percent.
“France delivered another quarter of solid growth in a competitive environment that remains challenging,” said Sivignon, adding domestic non-food sales were resilient, with an improved performance versus the previous quarter.
Carrefour’s revenues in other European countries declined 2.2 percent to 5.04 billion euros, or $6.91 billion.
“In Spain, we were encouraged by the continued momentum that we saw. Spain posted a second consecutive quarter of positive numbers with like-for-like growth both in food and nonfood,” he continued.
Yet Sivignon noted that the environment in Italy remains difficult, marked by strong promotional activity. The group expects results from its turnaround strategy there to come to fruition in the medium term.
In emerging markets, Carrefour’s sales were down 9.2 percent to 5.52 billion euros, or $7.56 billion.
“In Latin America, we saw accelerated sales growth both in Brazil and Argentina,” said Sivignon, highlighting that organic sales there excluding petrol and calendar effects rose 15.2 percent. However, there was a strong depreciation of the Brazilian real and Argentine peso against the euro, which led to an adverse currency impact. Sivignon said the company will “obviously carefully monitor the currency movements in the two countries.” Sales in China continued to be impacted by the slowdown in discretionary spending, particularly for nonfood goods, with organic sales growing 2 percent.
“While Carrefour is prioritizing shoring up its European position — a wise move, given it will continue delivering the bulk of sales — long-term ambitions for the BRICs cannot be ignored,” said Gildas Aitamer, a retail analyst at Planet Retail, a global retail data, technology and trend firm. “Although highly capital-intensive, achieving success in Brazil, India and China is a must if the retailer wishes to sustain its position as a ‘global top dog.’”
Sivignon said Carrefour will continue accelerating its multichannel strategy, which includes a revamp of its Web site in France.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye


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Chief executive Neil Doncaster has hailed the Scottish Professional Football League’s multi-year extension to its partnership with Loch Lomond Group.
The partnership between the SPFL and Vodka brand Glen’s owner, The Loch Lomond Group, started in 2020.
Glen’s Vodka, as well as several other of Loch Lomond’s Scotch whisky brands, will continue to work closely with the SPFL and many of its clubs across both league and cup competitions.
Doncaster said: “It is fantastic news to be able to announce this extension to our relationship with Glen’s Vodka and Loch Lomond Group.
“This partnership, with a growing and much-loved Scottish brand, will continue to see us working with our friends at Loch Lomond to provide new commercial opportunities, including special edition products, for a number of SPFL clubs.
“This contract extension comes on the back of record fee payments to the 42 SPFL clubs announced in the past year.
“Alongside our recently-extended agreements with Sky Sports, BBC Scotland and Infront, our partnership with Loch Lomond Group will play a major role in strengthening the financial future of the SPFL and our 42 Member Clubs.”
Glen’s Vodka will have exclusive presenting rights to each division’s manager of the month and manager of the season awards for the duration of the partnership.
The sponsorship will also encompass Loch Lomond’s wider, award-winning portfolio, including its premium Scotch malt whisky brands, Loch Lomond and Glen Scotia and its Ben Lomond premium Scottish Gin.
Colin Matthews, CEO of Loch Lomond Group, said: “Since 2018, Loch Lomond Whiskies have enjoyed great success as a sponsor of The Open, the world’s greatest and most prestigious golf tournament.
“But football is the number one sport in Scotland and, with the fantastic start made by the men’s national team to qualifying for the 2024 European Championship, this is a great time to support Scottish football and its clubs.
“The teams in the SPFL are a key part of Scotland’s cultural fabric and Glen’s vodka is an award-winning and iconic Scottish brand, so it was a no-brainer to continue to give our backing to Scotland’s best-loved national sport and all of the teams.”


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BUENOS AIRES, Feb 20 (Reuters) - Argentina will get rid of a 35 percent tariff on imports of computers, laptops and tablets, the Production Ministry said on Monday, part of a larger effort to lower consumer prices and roll back protectionist policies.
The government hopes the elimination of the tariff, which will take effect in April, can normalize the distorted consumer electronics market. Computers are three times more expensive in Argentina than in the United States, and 50 percent more expensive than in neighboring Chile, the ministry said in a statement.
Former populist President Christina Fernandez instituted a number of tariffs and import restrictions in a bid to boost domestic manufacturing employment. That often resulted in higher prices, and it is common for Argentines to cross into Chile or Paraguay to buy cheaper goods.
Center-right President Mauricio Macri has implemented a number of market-friendly reforms since taking office in December 2015, including removing capital controls and cutting the budget deficit. The government is also working with unions to cut the country’s famously high labor costs in a bid to boost foreign investment.
Opposition politicians have criticized the move to eliminate the tariff, citing layoffs and looming plant closures. The government said it would “accompany workers in the transition” and help them find jobs at other companies. (Reporting by Luc Cohen; Editing by Matthew Lewis)
Our Standards: The Thomson Reuters Trust Principles.


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Walker’s Collision Center in Picayune
Published 7:00 am Tuesday, June 27, 2017
For the past two decades Walker’s Collision Center has provided guaranteed bodywork to the Picayune area under the ownership of Darren Champagne.
Champagne said he bought the business from the Walker family 20 years ago.
Champagne is a native of New Orleans, but has lived in Pearl River County for the past 30 years. For a time he worked at Valspar, but didn’t enjoy being away from home due to the traveling needs his sales position required.
When he heard the Walker family was interested in selling the business, he took advantage of the opportunity.
Now, he puts his years of experience into the body shop business. Champagne said he’s been doing bodywork since he was 16-years-old.
For a time he had a small shop near his home in Henleyfield. But now he employs six full time people. His staff utilize the latest in paint and bodywork practices.
The shop has used water based paints for the past 16 years, which are Environmental Protection Agency approved, and a solvent-based clear coat when making repairs. That process requires the use of a heated down draft paint booth.
Champagne said he and his crew will stand behind the repairs because all work is guaranteed for life for as long as the customer owns the vehicle.
“We value our customers more than anything,” Champagne said. “Without them we’d be nothing.”
To ensure the staff is versed on the latest techniques and regulations, they attend training sessions.
Vehicles aren’t the only things Walkers’ Collision Center will paint. Champagne said everything from refrigerators, ovens, boats, jet skis and helicopters have been brought to the business for a paint job. He’s even painted racing boats and trucks for Al Copeland shortly after taking ownership of the business.
“We’ll paint anything,” Champagne said.
However, he did turn down a request to paint the front door of a home because it was made of wood.
Champagne said his business is community minded, participating in a number of worthwhile benefits and events. Most recently he said the business provided assistance to the Garden of Eden Ranch, a haven for those who were the victims of abuse or neglect.
In addition to bodywork and painting services, Walker’s Collision Center also offers 24-hour towing.
Business hours for the shop are Monday through Friday from 8 a.m. to 5 p.m. The office can be reached by calling 601-798-3126. To contact the 24-hour towing side of the business, call 601-798-2525.


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The easy money has been made off retail's meltdown, and now it's time to see where the sector is going, billionaire Marc Lasry told CNBC on Tuesday.
"We've covered quite a bit," the chairman and CEO of Avenue Capital said ahead of the 2017 Delivering Alpha Conference presented by CNBC and Institutional Investor magazine.
"Right now, whatever we've made money [on] we've made money on. I think the issue today is where is retail going. We'll all find out in a year," he added in an interview on CNBC's "Squawk Box" ahead of the conference. "The easy money has been made, and now you're sort of going to wait. It's a melting ice cube. And the question is how fast is it melting?"
Earlier this year, Lasry told CNBC he went short on retail. He said the issues facing retailers were "just too big" and those stocks would likely see more downside.
The SPDR S&P Retail ETF (XRT), a popular exchange-traded fund that tracks the performance of retail stocks in the S&P 500, was up 1.74 percent over the last 30 days but was more than 8 percent lower for the year, according to FactSet.
Lasry said Tuesday his firm is now looking for potential longs but added he's not seeking a stock like Amazon.
"I'm looking at companies today where their debt has gotten hit and their equities have gotten hit, and we'll probably start investing in that sector again in the next three to six months as we get a better feel for what's happening," he said.
"It's more high end. ... Like a J.Crew or a couple others," he added.
— In addition to Lasry, Delivering Alpha participants include Treasury Secretary Steve Mnuchin, Omega Advisors Chairman Leon Cooperman, Bridgewater Associates founder Ray Dalio, Blackstone chief Steve Schwarzman, DowDupont CEO Edward Breen, Kynikos Associates' Jim Chanos and JPMorgan Chase chief Jamie Dimon.


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New Orleans — The Gulf Coast Athletic Conference and adidas have reached a landmark agreement where the Portland, Ore. based company will serve as the official footwear, apparel and accessory brand of the GCAC through 2022.
adidas will provide merchandise discounts to all GCAC member institutions, as well as promotional items for select championship events.
“The Gulf Coast Athletic Conference is experiencing a period of unprecedented growth and expansion,” said GCAC Commissioner Steve Martin. “Our historic partnership with adidas is a major step for the GCAC, and we are excited to partner with one of the foremost athletic brands in the nation.”
Adidas is a global designer, developer and marketer of athletic footwear, apparel and accessories with the mission to make all athletes better. adidas is the official uniform, footwear and apparel provider for more than 100 collegiate programs including Arizona State, Indiana, Kansas, Louisville, Miami, Mississippi State, Nebraska, NC State, Texas A&M and UCLA. adidashas marketing agreements with the National Basketball Association (NBA), National Football League (NFL), Major League Baseball (MLB) and Major League Soccer (MLS).


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A deadly collaboration has been formed after Kalkadoon artist Glenda McCulloch's work featured on the growing Deadly Denim fashion label.
Deadly Denim is an exclusive range of recycled denim jackets, showcasing Aboriginal and Torres Strait islander artists.
Creator of Deadly Denim Rebecca Barlow said she saw Glenda's work and knew it would fit perfectly on her clothes.
"Glenda is actually the first artist I have used, previously we have gone with textile fabric and Injalak Arts (Gunbalanya) designs," Ms Barlow said.
Mount Isa artist Glenda McCulloch said Ms Barlow saw her work on Instagram and sent her a message.
"Rebecca messaged me out of the blue and told me about her label, then she told me she supports indigenous midwifes and I really wanted to collaborate with her," Ms McCulloch said.
Ms Barlow said her business started when she noticed all the different textiles and fabrics that were around in the fashion industry.
"I sold vintage clothing while I was studying at university so it kind of gave me a boost, then I created Deadly Denim last year, bringing a way to be creative whilst bringing some publicity and some fundraising to Rhodanthe Lipssett, who support student midwives like myself to finish their studies."
Deadly Denim has been in operation for twelve months and recently made an appearance at the Perth fashion festival on the indigenous runway.
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Companies failing to use solutions to late payments
Companies are making little use of cash flow solutions despite late payments continuing to cause serious problems.
Two-thirds of companies surveyed by Construction Industry Collective Voice (CICV) were hit by changes to payment terms and time spent chasing outstanding invoices
Half had sought external assistance to deal with payment disputes, with 54% saying they had referred a dispute to adjudication.
But while 62% of those surveyed said they were aware of project bank accounts, only 17% had actually used them.
CICV’s Len Bunton said: “From these findings, it is clear – and also rather depressing – that cashflow and payment issues are still major problems in the construction industry in Scotland.
“It is especially frustrating to see so many financial disputes still going to costly adjudication and so little take-up of solutions like project bank accounts and the Conflict Avoidance Process – despite evidence that they do work and help to improve all-important cashflow.”
The survey also invited respondents to provide anecdotal evidence of cashflow and payment issues, along with suggestions of how to improve the current situation.
One said: “I’d like to see less sub-contracting and more directly employed trades so there’s a joined-up process and effectively one large purse with collective ownership. The minute we sub-contract we divide, and priorities, focus and responsibility aren’t truly shared.”
Another told the poll: “We have problems with the public sector with too many authorisations that prolong and delay payment. A simplified process would help.”
A third added: “Many years ago, main contractors had to show proof of payment to sub-contractors before they received their next payment. Implementing such a practice for all sub-contractors would hugely improve the payment process.”
While a fourth respondent said simply: “Employers need to be held accountable and measured against the agreed payment terms within the building contract.”
The CICV is now devising a series of measures to help combat issues highlighted in the survey, including the imminent publication of a best practice guide. The collective is also planning an online webinar, offering contractors practical advice to help them avoid payment pitfalls.
David MacDonald, also of CICV, added: “The many troubling issues highlighted by this survey simply reinforce the need for the industry to resolve matters before they escalate into disputes.
“The best practice guide, to be published by the CICV shortly, is designed to be used to eliminate poor commercial management and assist contractors to be much more alert to potential problems and risks.
“The planned webinar will also help contractors navigate the perilous waters of payment, which are clearly still littered with many difficulties.”
The survey is the latest in a string of practical and constructive initiatives launched by the CICV since its creation as the Construction Industry Coronavirus (CICV) Forum in March 2020.
Made up of 28 trade associations, professional services bodies and companies, it has maintained a steady supply of information and practical advice to the sector as well as carrying out surveys, producing animations and posters, hosting webinars and maintaining close dialogue with Scottish Government ministers.


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BARELY a year after he was made brand ambassador of Olympic milk, Peter Okoye of the Psquare fame has just signed another deal as the ambassador for international designer, Adidas.
The singer made the announcement Tuesday, via his Instagram page where he shared picture of the signing ceremony. He wrote: “Signed and Sealed. Meet your latest Adidas ambassador moi… Love great stuffs and I roll with the Best. #Go2Rounds with me at adidas stores. Buy 1 get 1 free on adidas footwear.”
It will be recalled that telecommunications operator, Globacom, in August announced its sponsorship of a new reality television competition, ‘Dance with Peter’, anchored by the singer whose group is also known for its dance expertise.
Dance with Peter, which is currently running is intended by the organisers, to discover the best dancer in West Africa.


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Over the past decade the competitive landscape at the top of the beer market has been marked by considerable merger and acquisition activity. The end rest is much greater concentration at the top so that by 2009 the top-10 brewers accounted for 61 per cent of global beer volume, compared to 38 per cent in 2000.
Rabobank analyst Francois Sonneville said: “The most striking change is the emergence of a top-four. The combined market share of Ab InBev (Belgian), SABMiller (South African), Heineken (Dutch) and Carslberg (Danish) tripled between 2000 and 2009, and these four brewers almost quadrupled their volumes.”
Faced with stagnant volume growth in developed markets and a rapid increase in consumption in emerging regions, these big players have sought to shift their global footprints accordingly and take advantage of potential economies of scale. But have their efforts proved successful?
Comparing the performance of the top-four with a constructed peer group of 20 listed major brewers, Rabobank concluded that their strategy has led to value creation.
Looking at developments in return on capital employed (ROCE), which compares profits with capital invested, the bank found that the top brewers have both improved their margins and created value.
Sonneville said: “Despite initial pressure on the ROCE from M&A activity, the top-four have managed to outperform the peer group in the long run.”
Does that mean that continued M&A activity is the way forward for brewers? The analyst suggested that the equation may not be as straightforward as it once was.
“Over time, acquisitions have become more expensive. So brewers find it difficult to decide the best course to add value to their business in an increasingly aggressive environment.”
But brewers have little choice but to face up to the reality of this new environment. According to one CEO quoted in the Rabobank report, “You’re either at the table or on the menu.”


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A coalition of 50 conservative groups has issued an open letter attacking a bill introduced by Republican U.S. Sen. Rick Scott and similar federal measures calling for price controls on prescription drugs.
“We have long opposed price controls because they utilize government power to forcefully lower costs in a way that distorts the economically-efficient behavior and natural incentives created by the free market,” the open letter declares, followed by the signatures of leaders of such groups as Americans for Tax Reform, 60 Plus Association, ALEC Action, FreedomWorks, the James Madison Institute, and the Goldwater Institute.
The letter specifically calls out Scott’s “Transparent Drug Pricing Act,” co-sponsored by Republican U.S. Sen. Josh Hawley of Missouri. SB 977 would have pharmacies and insurance companies disclose more about drug pricing. It also would require that drug companies charge no more for drugs in the United States than they charge in a set of other countries, notably Canada, Great Britain and Germany.
When he announced SB 977, Scott touted the proposal by declaring, “Every American should know exactly what their prescriptions cost and it’s unfair that consumers in other countries get a better deal than patients in America. That must change.”
The conservative coalition compared SB 977 with another bill being pushed by independent U.S. Sen. Bernie Sanders and Democratic U.S. Sen. Ro Khanna of California, blasting both measures for seeking to tie medicine prices in the United States to those prices paid for similar drugs in other countries.
The letter also calls out, as a similar strategy, the international pricing index proposal released by the Department of Health and Human Services. That proposed payment model modifies the reimbursement rate for Medicare Part B drugs so that it is calculated based on prices set by 14 countries.
“Foreign countries frequently utilize a range of arbitrary and market-distorting policies to determine the cost of medicines – by definition, such approaches are price controls,” the open letter charges.
The coalition argues that price controls suppress innovation and access to new medicines and alleges that the result in many foreign companies is that new medicines available in the United States are not made available there. It cited a study by the Galen Institute, which was also among the signatories to the letter.


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COVID surge: Kerala government to suspend offline classes for 2 weeks
The classes would be suspended for two weeks as a precaution and it was applicable to all educational institutions in the southern state, he told a press conference here. Noting that the safety of children was of paramount importance to the government, he said the timetable of the online classes would be restructured as per the new decision.
Nashik schools to remain shut from Jan 10-31 for offline classes for Grades 1 to 9 and 11
Bhujbal, who is also the Nashik district guardian minister, made the announcement after chairing a meeting to review the coronavirus situation held at the collectorate here. He gave instructions to officials to speed up COVID-19 vaccination in the district and create awareness among people about taking the second dose of the vaccine.
UPI transactions scale new peak in December 2021
The volume and value of monthly UPI transactions nearly doubled from January to December 2021. NPCI now expects the UPI platform to hit 100 crore transactions per day after RBI enables UPI wallets for low-value offline transactions.
RBI releases framework on offline digital payments
“Offline payments may be made using any channel or instrument like cards, wallets, mobile devices, etc,” the RBI said in a statement. “Offline payments shall be made in proximity (face to face) mode only.”
Paytm Lending CEO Bhavesh Gupta gets additional role to lead offline payments vertical
Paytm on Friday said it has elevated Bhavesh Gupta, CEO of Paytm Lending, to take on the leadership for the offline payments vertical in addition to his existing responsibilities.
Processed over 1 bn merchant transactions in Nov 2021, offline payments up 200 pc YoY: PhonePePhonePe said offline merchant transactions on its platform have shown 200 per cent growth since last year, and it processed over a billion P2M (peer to merchant) transactions in the month of November.
How to generate Aadhaar eKYC for offline verificationAccording to the UIDAI website, one should follow these steps to generate Aadhaar Offline e-KYC.
View: Cash is dying, but we aren’t ready to bury itIf all the money in circulation is private, controlled by e-commerce and social media platforms, authorities won’t be able to protect consumers from being exploited.
With COVID cases among students, Karnataka Minister says govt will stop schools if need arisesThe minister said the government was closely monitoring the COVID-19 situation on an hourly basis. He added that the government will make alternative arrangements with a view to avoid any problem.
Nykaa plans to open 300 stores to drive offline growth: Falguni NayarThe physical Nykaa stores — targeting Indian consumers wanting to buy touch-and-feel products — are a critical part of the business, Falguni Nayar says. The company is India’s largest cosmetics etailer.
How to register for RBI Retail Direct scheme to invest in government securities?Individuals who are retail investors are permitted to open an RDG account. An RDG account can be opened individually or in partnership with another retail investor who meets the conditions.
Tata-owned 1mg, PharmEasy go offline for omnichannel presenceTata-owned 1mg is set to open its first physical store in Gurugram next month while rival PharmEasy has started to expand across the offline channel through franchise stores.
BigBasket to open 200 Fresho stores pan-India by FY23The Bengaluru-based online grocer aims to increase that number to 800 stores by 2026, its cofounder and CEO Hari Menon said.
Offline classes for 1 to 5 to resume in Gujarat from Monday; schools told to make arrangements: GovtAddressing reporters in Ahmedabad, Vastate education minister Jitu Vaghani said the offline teaching for classes 1 to 5 will resume when (Diwali) vacation ends on November 22. Permission of parents is required for sending their wards to schools.
IIT Delhi plans to start offline classes from January next year: Director V Ramgopal RaoRoy said that they were discussing plans of holding offline examinations in the future. However, a cap on 50 per cent occupancy in classrooms will continue at all times.
BLive forays into offline multi-brand retail segmentBLive aims to offer an interactive experience to all its customers by showcasing electric two-wheelers (e-two-wheelers) and electric bicycles (e-bikes) designed and manufactured by Indian brands, the company said in a release.
Classes 6, 7 to resume offline in Odisha next weekStudents are allowed to attend classes either online or offline mode. Attendance is not mandatory for students in offline mode, School and Mass Education Department of the state said.
Now get Aadhaar verification done offline, users get power to revoke eKYC consentAlong with offline options, other modes of verifications like one-time pin and biometric-based authentication will also continue. The new rule gives Aadhaar holder the choice to share as a digitally signed document with authorised agency for e-KYC.
CBSE issues guidelines for classes X & XII offline Term 1 examsThe circular from CBSE said that the board will supply customised OMR (optical mark reader) answer sheets to examination centres having details of the students permitted to take those exams.
Classes 10, 12 Bengal board exams to be held in offline mode in Mar-Apr 2022The West Bengal Board of Secondary Education (WBBSE) President Kalyanmoy Ganguly said 'Madhyamik', the 10th standard examination, will take place from March 7 to 16 in around 4800 venues. 'Uchcha Madhyamik', the 12th standard exam, will be held between April 2 and 20, West Bengal Council of Higher Secondary Education (WBCHSE) President Chiranjib Bhattacharya said.
Shiprocket’s festive season report reveals growth of over 191% in sellers from Tier-III marketsShiprocket also noted that offline channels were the most popular this year, having registered a growth of over 301% compared to last year.
CISCE to conduct board exams in offline mode, announces revised date sheetThe council also released a revised date sheet according to which the ICSE exams for class 10 will begin from November 29 and for class 12 (ISC) from November 12. The exams will conclude on December 16 and 20 respectively.
Sikkim lifts curbs on inter-state travel; schools to open for all students from Oct 18Sikkim government has lifted inter-state travel restrictions as the COVID-19 situation has improved. Furthermore, the students from Lower KG to Class 8 can now attend offline classes from October 18.
Lack of veracity in an image-driven Internet is affecting the offline world, making people collateral damageThose who download images are supposed to check for appropriateness and legality, but rarely bother.
Soon make digital payments without internet anywhere in country: RBI to roll out formal mechanismThe pilot scheme was announced in August 2020 to enable retail digital payments even in situations where internet connectivity is low / not available (offline mode).
Woodland eyes return to pre-pandemic sales performance this fiscal; to expand offline storesWoodland, which closed around 40 stores since the pandemic broke out, is now considering adding new stores in its sales network as the company expects customers walking back to physical stores as the vaccination paces up.
CarTrade launches one-stop services platform to buy, sell pre-owned carsCarWale abSure showrooms are getting launched across nine cities -- Mumbai, Bangalore, Surat, Kanpur, Noida, Chennai, Bhopal, Kolkata and Ahmedabad -- with more to be added in the near futureLoad More
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There was a reason that we wondered in early 2013 if Groupon would make it to 2014—the company is hemorrhaging cash, and the situation has just gotten a lot worse.
According to the company’s latest earnings report published on Tuesday, the online deals site sustained a net loss of $22.8 million in the second quarter of 2014—approximately triple the level of losses the company had during the same period a year ago. During the first half of 2014, Groupon lost over $60.6 million, or over five times what it lost during the first half of 2013. From 2009 through 2013, Groupon has incurred total net losses of over $820 million.Unsurprisingly, the stock price took a hit today—as of this writing, Groupon has plummeted over 15 percent in after-hours trading, hovering just under $6 per share. By comparison, Groupon closed at just over $26 per share after its first day as a publicly traded company back in November 2011.
In its 2014 annual report, the firm noted that its entire business model may be hampered as e-mail users and providers become more savvy.
“If email providers implement new or more restrictive email delivery policies it may become more difficult to deliver emails to customers,” Groupon wrote. “For example, certain email providers, including Google, have started to categorize our emails as 'promotional,' and these emails are directed to an alternate, and less readily accessible, section of a customer’s inbox. If email providers materially limit or halt the delivery of our emails, or if we fail to deliver emails to customers in a manner compatible with email providers’ email handling or authentication technologies, our operating results and financial condition could be substantially harmed. In addition, if we are placed on "spam" lists or lists of entities that have been involved in sending unwanted, unsolicited emails, our ability to contact customers through email could be significantly restricted.”
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Sony and Toshiba said on Thursday they would work toward a common format in order to avoid a drawn-out fight that would confuse consumers and hinder the industry's development, just like the spat between the VHS and Betamax video tape formats two decades ago.More info at Reuters
Electronics firms want to end HD-DVD / Blu-Ray DVD format war
Posted on Friday, April 22 2005 @ 20:07 CEST by Thomas De Maesschalck
Toshiba and Sony got support from other electronics companies to develop a common next-gen DVD format. Both Panasonic and Philips said they are studying ways to end the three-year 'DVD format war' between Blu-Ray and HD DVD.


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The norovirus outbreak at Chipotle, a Mexican grill, has led the company to search for possible solutions. Seton Hall students in the Stillman School of Business did research separately and created studies to propose to the fast food chain with hopes of presenting their findings to Chipotle management at a conference this month. The most recent Chipotle norovirus case sickened 143 people in Boston, Mass., in December 2015. The outbreak was “likely caused by a Chipotle employee who worked while sick,” according to Chipotle’s website. This led the restaurant to close down on February 8 for new food safety procedure training. Amar Dev Amar, a Stillman management professor, saw the opportunity for business students to get real-life experience in operations and problem solving with Chipotle. Amar led students in conducting the Chipotle study. Amar assigned the project to students in his Organizational Behavior and Operations Management courses. Frankie Maier, a junior finance major and Organizational Behavior student, said the students were tasked to visit the Chipotle in Springfield, N.J., or any convenient location if they were not able to visit this one, to observe sanitary procedures in the restaurant. Students then reconvened with classmates in smaller groups to share their findings and then revisited Chipotle after February 8 at various times. “At this point, the scandal was coming to a close, the investigation was kind of closing, and a lot of their new rules and regulations were being implemented,” Maier said of her second visit to the Springfield Chipotle. “It was kind of to see how your first experience compared to your second experience.” The new safety procedures put in place include high resolution testing for the vegetables and marinating chicken only at night when the vegetables have been put away. According Chipotle’s food safety page, “high resolution testing is the practice of taking a large number of samples from a relatively small amount of the ingredient.” Through this experiment, Amar said he was trying to teach his students “how leaders should understand the behavior of the people who work for them, and how their behavior becomes inconsistent with what the company wants, and how to bring it back.” Amar referred to Chipotle as a “young company,” founded by Steve Ells in 1995, that became successful quickly. In its third quarter during the 2015 fiscal year Chipotle opened 53 new locations, taking its 2015 total to 150 restaurants, according to Forbes.com. “It is not uncommon for companies during this stage of evolution to hit a rock, hit something where things like what happened at Chipotle will happen,” Amar said. Sultan Hardaway, a senior business management major and Operations Management student, said that he saw Chipotle employees not wearing gloves or hairnets while working with food at the Springfield location. “They just wear snapback hats or little visors,” Hardaway said. “Some procedures I felt that they should’ve been more cautious about, and I didn’t see that there.” Hardaway said that during his visit, he witnessed an employee answer a phone while mixing a dish for the assembly line without wearing gloves or washing his hands after hanging up. Grant Palluzi, a junior sports management major and Organizational Behavior student, said that Chipotle’s issues can be found in any other fast food restaurant. “Most workers don’t normally use gloves in a lot of businesses,” Palluzi said. “I’ve worked in the food industry for a few years too, and it’s something that a lot of workers don’t like.” While Palluzi did not specify other fast food restaurants besides Chipotle that are in the practice of not using gloves, he did specify that the workers at the West Orange Chipotle location both cleaned and scooped food for a period of time with no gloves during his visit. Mike Palazzolla, a junior finance major and Organizational Behavior student, commented on how Chipotle is handling the norovirus outbreak. “It could be them doing this as more of a PR stunt and putting makeup on a pig, instead of them actually going and correcting the core health-related issues,” Palazzolla said. “They’re doing it to shut everyone up, but in the long run, they’re not really seeing what the true issue is, and that’s food storage and bacteria.” Amar has sent a letter on March 9 to Steve Ells inviting him and his team to attend the conference on April 13, where all of the students that participated in the experiment will share their findings and their suggestions for improvement. The conference will be held at 1:30 p.m. in the Jubilee Auditorium. All students are invited to attend the conference. Attendance is free. Chipotle representatives have received the letter, but it is not known whether they will be attending the conference or not. Amar said that the conference will take place with or without Chipotle representatives in attendance. Brianna Bernath can be reached at email@example.com.
Chipotle study wraps up after norovirus outbreak


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Asus ZenFone AR, the Tango, and Daydream-enabled smartphone is now launched in the Philippines. The smartphone is priced at PHP 44,995.
For the unaware, the ZenFone AR was launched back in January this year and is yet to reach many of the major smartphone markets. The smartphone, besides being the world’s first Tango and Daydream-enabled is also the world’s first handset to feature 8GB of RAM.
We now have many handsets with such huge amounts of RAM including the OnePlus 5, though.
The Asus ZenFone AR houses a Qualcomm Snapdragon 821chipset with the graphics being taken care of by an Adreno 530 chipset. There’s a 5.7-inch Super AMOLED QHD display, 64/128/256GB of onboard storage. The device is also available with 6GB of RAM.
For photography enthusiasts, the device features a 23MP rear camera with 4-axis OIS, 3x zoom, PDAF, and depth, motion tracking sensors. At the front is an 8MP camera for selfies and video calls.
The smartphone ships with Android 7.0 Nougat and is backed by a 3,300mAh battery.


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Here’s an article about NetEqualizer’s work in Iraq and Afghanistan that appeared in the Boulder Daily Camera…
“Think of it as regulating traffic as it merges onto the highway,” said Art Reisman, CEO and president of APconnections. “If it weren’t for the NetEqualizer, traffic would come to a standstill. It puts a delay on things like big downloads to slow them down.
“But the key is it’s temporary — if we didn’t, everything in the network would come to a halt.”
The NetEqualizer has become the “bandwidth optimization technology” of overseas companies such as Afghan Wireless, which was the first firm to provide public Internet access in Afghanistan, and Blackwater USA, the controversial personal-security company with the largest presence in the region.
Afghan Telecom, which became the official telecommunications provider of the government when it was incorporated by the Ministry of Communications and Internet Technology in 2005, also uses the NetEqualizer. APconnections currently has supplied NetEqualizer to more than 10 companies in the region.
“We don’t want to take credit for anything grand over there,” Reisman said. “We’re just providing a service. But it’s good they have a product like ours that they can count on. But we’re not going to create an office over there or anything.”
NetEqualizers are used all over the world, including Africa. This summer, APconnections announced it has served more than 1 million Internet users.
APconnections competes with the Israeli product NetEnforcer and the California-based company Packeteer, both of which provide products with similar services as the NetEqualizer.
“We do things a little differently than those companies, but still accomplish the same things a little cheaper,” Reisman said. “We’ve kind of developed a cult following. We’re the smaller player, but the people who use us would never switch.”
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New Delhi: Jet Airways will offer all-inclusive fares starting at Rs 921 in select routes as part of special Diwali offer.
"The six-day fare sale -– from October 25–30 -- on economy fares is valid for travel 15 days post the date of booking, on specific domestic destinations on the Jet Airways' network," the airline said in a release today.
The carrier's Chief Commercial Officer Jayaraj Shanmugam said the special fares would enable guests to enjoy significant savings and benefit by scheduling their travel plans well in advance.
Currently, Jet Airways Group operates a fleet of 117 aircraft.
Updated Date: Oct 26, 2016 14:44 PM


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Both retail giants are adding tens of thousands of hires to their payrolls after the US Labor Department submitted a disappointing jobs report.
Last Wednesday, Amazon announced it would be adding 55,000 jobs globally after having reached a workforce of more than 1.3 million people last year. 40,000 will be added in the US, and the remaining jobs in other countries, especially in Europe and Asia. This is the first hiring push after Andy Jassy took over Amazon CEO from Jeff Bezos in July. This announcement comes days before the company’s September 15 career day. Most of the jobs will be based in the corporate and technology teams, which already have an estimated workforce of 275,000 worldwide.
On the other hand, Walmart, one of Amazon’s retail and logistics industry competitors, looks to add 20,000 jobs to the most sought-after roles during the pandemic: the supply chain positions. This includes drivers, managers, order fillers, freight handlers, and technicians. Warehouse workers are currently in high demand, as the worker shortage during the pandemic and the online sales boom have left companies desperate for these kinds of workers. The company’s average salary for a supply chain worker is $20 per hour.
According to Amazon’s statement, most of the added jobs will be new positions instead of just a move to fill existing ones. This could mean the tech giant is going to hire more workers than expected. This move to hire a more extensive workforce comes amid the failure of Amazon warehouse workers’ push to unionize and general criticism of the treatment of these workers from the company.
Walmart offers a good salary plus the benefit of college tuition payment and excellent benefits to lure workers into new jobs. However, experts estimate that during the shortage, it’ll remain hard for Amazon and Walmart to fill these positions despite the offerings of better benefits.
At the time of writing, both companies’ stocks were performing well. With increases of over 0.4% each, Walmart stock was at $149,25, and Amazon remained above the $3400 mark.
Do you think Amazon and Google will achieve the hiring of so many workers?
For more news on the world of Business, check our latest NewsFlight.


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- Apple and IBM partner for business software
- Kroger debuts Retail Site Intelligence, new enterprise IT architecture
- Dunkin' Donuts signs deal for 46 locations in South California
- Westfield Garden State Plaza brings digital technology to physical world
- Wal-Mart's tech lab buys Stylr mobile fashion app
Canton, Mass. -- Dunkin' Donuts announced the signing of a multi-unit store development agreement with three franchise groups to develop 25 new restaurants in Texas over the next several years. The locations include 16 units in Houston and nine in San Antonio.
Dunkin' Donuts' development throughout Texas is part of the company's goal to double the number of Dunkin' restaurants in the United States over the next 20 years.


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On 22 June 2010 the new Chancellor of the Exchequer, George Osborne, presented his emergency Budget. In the House of Commons he argued: "This Budget is needed to give confidence to our economy …Our policy is to raise from the ruins of an economy built on debt a new, balanced economy where we save, invest and export. An economy where the state does not take almost half of all our national income, crowding out private endeavour. An economy not overly reliant on the success of one industry, financial services – important as they are – but where all industries grow. An economy where prosperity is shared among all sections of society and all parts of the country."
As everyone must know by now, the economy hasn't grown; the people haven't prospered; there has been no fundamental rebalancing, the country remains over-reliant on financial services; investment and exports have not taken off; declines in the public sector have crowded out the private sector; and we aren't all in it together.
Far from boosting confidence, exactly the opposite occurred. Business and consumer confidence both collapsed from May 2010. The graph provides the evidence and shows that the spring of 2010 was almost exactly the pinnacle for confidence in the UK economy. The Coalition looks to have killed off animal spirits, not least by talking the economy down. Slasher achieved exactly the opposite to what he hoped. As he went on to say, "unless we now deliver on that promise of action with concrete measures, that credibility … will be lost." That credibility has already been flushed away.
Plotted is the European Commission's monthly Economic Sentiment Index for the UK, which is a weighted average of four business surveys, covering production, services, construction and retail and a consumer confidence index, which itself is a weighted average of four consumer surveys covering individual reports on an individual's financial situation; their views on the general economic situation in the country, what they expect to happen to unemployment, and their plan for savings over the following year. Confidence in the UK economy has been in recession territory for about the last year.
During the last week there was more incontrovertible evidence, over and above the confidence data, that the economy remains in double-dip recession:lending numbers were poor; house prices started falling again; and the latest Purchasing Manager's Index (PMI) for manufacturing plunged again, falling from 48.4 to 45.5, to its lowest level since May 2009. Output, inventories and new orders all contracted sharply; the construction and services PMIs were also weak.
Some commentators have argued that things are much better in the UK in this recession than in previous ones, when unemployment reached much higher levels. For example, in January 1993 unemployment hit 10.7 per cent, compared with 8.1 per cent today. But that ignores the fact that unemployment spells then were long, which meant that approximately 10 per cent of the workforce was unemployed all the time and 90 per cent of the workforce was never unemployed; now everyone is hurting. Moreover, most workers were able to obtain real wage increases throughout most of the post-war period right up until 2007. Since then real wage declines occurred across most of the wage distribution except at the very top end. That can be seen from a comparison of average weekly earnings with the Consumer Prices Index inflation data. If the CPI growth is higher than wage growth then real earnings are falling, and vice versa. So from 2011 on, not only are the unemployed hurting, so are the employed, who are now seeing negative real wage growth, even though the CPI is declining.
There is also the issue of what has happened to the earnings of the 4.2 million self-employed. Their earnings are not included in the AWE, and we know from earlier research that the typical self-employed person halfway up the earnings distribution earns less that the equivalent employee halfway up the wage distribution. Note that some self-employed workers even make negative earnings or losses. There has been an increase of 200,000 in the number of self-employed workers since this government took office, while the number of employees is approximately unchanged, so the self-employment rate (the percentage of workers who are self-employed) has risen from 13.6 per cent to 14.2 per cent. One third of this increase is in part-time self-employment; my examination of the latest data for Q12012 suggests, as one might expect, these are primarily women, and principally in childcare, cleaning and hairdressing. It seems unlikely, then, that these are budding entrepreneurs; there is a possibility that they have failed at both self-employment and wage employment and are pursuing low-level menial work on very low piece rates. Limited demand for their services may well be keeping both their hours and their earnings down. The danger here is that the Government has pushed people out of poverty out of work into poverty in work. I question whether these new self-employed jobs, especially the part-time jobs, are good jobs. In any case, there is no evidence that a higher proportion of workers that are self-employed is associated with any positive macroeconomic outcome.*
A YouGov poll for The Sunday Times showed that just 15 per cent of voters thought Osborne was doing a good job. Despite that, David Cameron has confirmed in an interview that Slasher will be staying on as Chancellor, because apparently he is "is doing an excellent job". Nothing could be further from the truth; he isn't. How bad does it have to get? We shall see.
* David G Blanchflower, "Self-employment: more may not be better," Swedish Economic Policy Review, vol 11(2), Fall 2004, pp 15-74.
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Amazon has today opened its new corporate office in Manchester’s Northern Quarter to house more than 600 employees.
The 90,000 sq ft space in the Hanover Building will be home to roles including software developers, solutions architects, applied scientists, brand and business development specialists and finance analysts.
The new office has incorporated sustainable elements with demand-based lighting and heating systems and centrally monitored recycling streams.
Amazon already has three fulfilment centres in the north-west, in Bolton, Warrington and Manchester Airport, alongside three delivery stations and a sorting centre.
Alongside the opening, the etail giant has also launched its Amazon Future Engineer Bursary for The University of Manchester students from low-income backgrounds studying computer science. It will provide £3,500 to selected students over the course of their undergraduate degrees.
Amazon’s startup initiative, AWS Startup Garage, is also launching in Manchester. The new initiative will support local tech start-ups and will be hosted in the new office throughout 2020.


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April 16 2014 Latest news:
Sunday, December 8, 2013
Santa Paws dished out treats to dogs in festive jumpers and reindeer antlers at a Christmas grotto with a difference.
The Santa’s grotto for dogs at the Forum was set up as a treat for man’s best friend, and to put a new twist on a well-known message: that a dog is for life, not just for Christmas.
Dog-lovers queued up to give their pet – many in festive fancy dress – the chance of an audience with a dalmatian-spotted Santa Paws, in exchange for a donation to the RSPCA.
Tammy Clarke, fundraising and marketing manager for the RSPCA, said the event was a fun way to remind people of an important message.
“We want to raise awareness that a dog is for life, not just for Christmas,” she said.
“A lot of people, particularly in a recession, might take an animal in without thinking about the add-on costs that it brings.
“There are vet bills, food, bedding and leads to think about, as well as needing the responsibility and patience to look after an animal as sociable as a dog.”
Mrs Clarke said the RSPCA had many dogs looking for new homes, all of which come vetted, neutered and microchipped to keep future care costs down, and that advisers were able to pair people with an animal that would suit them.
First in line when the grotto opened was the Forum’s marketing manager Jayne Evans, who was inspired to set up the grotto after seeing a similar one in London last year, with her labrador, Delia.
She said: “We had people queuing up before Santa Paws was ready. People have made a special effort to dress their dogs up and bring them in on a very busy Christmas shopping day.”
The Santa’s grotto for dogs will be at the Forum on Saturday between noon and 3pm.
A gallery of the photos taken will be online at www.theforumnorwich.co.uk
Are you organising an unusual event in Norwich? Email firstname.lastname@example.org or call 01603 772423.


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ScreenHits, which has developed an online marketplace that matches buyers and sellers of TV shows and TV movies and is offering streaming content online, has raised $1.2 million from a group of angel investors to further develop its technology and increase business development.
The privately held company, which is based in London and was founded in 2012 by American entertainment executive Rose Adkins, announced Monday that its new “angel” investors include Rory Fleming (a London banker and nephew of the late James Bond author, Ian Fleming), Aeneas Reay (an investor and heir to a Scottish title) and investor Flemming Lund, among others.
The idea, says Adkins, who is CEO of ScreenHits and majority owner, is to provide an on-demand marketplace of content with real-time, real-world commentary from consumers.
STORY: Gawker Targets Quentin Tarantino’s Motive for ‘Hateful Eight’ Lawsuit
ScreenHits also announced distribution deals with Caracol, Fox Latin America, Relativity Media, AG Properties, Telemundo and Venevision. Those are on top of existing content marketing deals with Hasbro, TVF, eOne and SkyVision.
The web-based platform, which is still in a test phase, allows broadcasters and other content owners and distributors to market shows around the world, with a listing of what rights are available by territory. A buyer can click and watch an episode before licensing the content.
The site also allows the distributors to do market research — a pilot is posted and viewers give feedback.
There also is an option for consumers to stream individual shows for 99 cents each or subscribe to the service, while some shows are available to view for free.
STORY: Disney’s ‘Frozen’ Trailer Targeted in Copyright Lawsuit
ScreenHits also has early stage funding from U.K. Trade and Investment and the U.K. government through SEIS (Seed Enterprise Investment Scheme) and EIS (Enterprise Investment Scheme).
“We were able to provide strategic introductions to key industry players, as well as on-the-ground support in terms of logistics around company formation, accounting, tax and office space,” says New York-based Richard Powell, U.K. Trade and Investment organization vice consul. “Helping ScreenHits to grow and develop…showcases the desire from U.K. Government to nurture, support and grow innovative companies.”
“ScreenHits is a unique investment,” says Fleming, “as it combines the best of consumer online video platforms with global content distribution on a B2B side and connects the two worlds together seamlessly, providing unique benefits on both parts — creating a low-cost, high-return business model.”
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Canadian consumers are concerned about their ability to pay their bills on time, manage their debt, and protect their personal financial data, according to a consumer survey* conducted by Equifax Canada ahead of Financial Literacy Month. Nearly half of those surveyed indicated that they have never received financial education. Below are some tips that lenders can use to help incorporate financial literacy into their practices.
Understand the Importance of Financial Literacy
The importance of financial literacy continues to grow as concerns over bills, debt, and identity theft rise amongst Canadians. Julie Kuzmic, Equifax Canada’s Senior Compliance Officer, Consumer Advocacy states "Financial education is an essential building block towards ﬁnancial resilience to help people make informed ﬁnancial decisions and protect their well-being… We need to talk about money more to empower Canadians of all ages and backgrounds to build ﬁnancial resilience.”
Consumers should be watching their credit reports, including their Equifax credit report, and scores in the context of fluctuating debt levels to manage their financial well-being and access to financing now and in the future. Lenders can use the strategies below to help inform their fraud prevention strategies and potentially increase lending opportunities.
Utilize Key Consumer Findings
Lenders should watch for signs of financial stress within pockets of consumers. Equifax Canada’s consumer survey results provides some insight into potential areas of consumer concern:
36 per cent of younger adults (aged 18-34) disclosed that they have missed a bill payment this year compared to 23 per cent of all respondents.
32 per cent of the Canadians surveyed never check their credit reports. Checking credit reports is one of the best ways to spot identity theft early.
52 per cent of respondents aged 18-34 are experiencing anxiety about their personal debt levels, which is signiﬁcantly higher than the overall average of 39 per cent of other respondents.
Pinpointing pockets of consumer stress and concern can help lenders minimize risk by monitoring changes in spending and payment behaviour. Additionally, by understanding the anxieties and stresses of certain consumer groups, lenders can connect more personally with these groups, offering counsel and solutions that address their needs.
Build Trust Between Customers and the Financial Industry
Offering financial education resources to consumers can help to build their trust within the financial industry. Consumers can visit Equifax Canada’s education hub to learn more about how credit works and how to help protect their identities. The site oﬀers insights on how diﬀerent actions may aﬀect credit scores and provides resources to help Canadians improve their ﬁnancial resilience. Lenders can leverage Equifax Credit Health to empower their customers with access to their financial health information. They can also tune into the Equifax Canada Market Pulse Quarterly Credit Trends webinars to gain further insight into the current economic climate.
We want to help Canadians live their financial best. If you want to learn more about how understanding consumer credit trends can help inform lending decisions, please contact your Equifax Account Representative. You can reach us directly at 1-855-233-9226 and follow us on Twitter and LinkedIn.
*An online survey of 1,564 Canadians was completed between September 15-18, 2023, using Leger’s online panel. The margin of error for this study was +/-2.5 per cent, 19 times out of 20.
This article is published by Equifax Canada Co.® 2023. All rights reserved. No part of this article may be reproduced, copied or transmitted in any form or by any means, or stored in a retrieval system of any nature, without the prior permission of Equifax Canada Co. This article is for informational purposes only and is not intended to be legal or business advice.
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