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Rent reliefs, break options and force majeure clauses – how commercial tenants can navigate COVID-19
The government is updating us daily with its response to concerns across the board regarding COVID-19 and the effect on businesses.
So to help, if you're a business premises tenant, here's some food for thought on negotiating with your landlord on your current lease, bringing your lease to an end as well as protective measures for new leases.
With the recent government lockdown on mostly essential businesses remaining open for at least the next three weeks, many tenants will now find themselves in a position where their premises are empty due to government guidance.
This could be, for example, because employees are working from home or, in the case of retail units, trading has temporarily ceased.
As the situation develops, many businesses are now realistically expecting to encounter cashflow issues and that means tenant worries about future rent payments.
If you pay rent on a quarterly basis, it so happens that the usual quarterly rent payment dates landed before 15 March, so many tenants may have already paid their rent for the next quarter.
Nobody saw the COVID-19 outbreak coming and so most leases will not be covered under Tenant’s Business Interruption Insurance — take a look at my colleague Victoria Leslie’s post on this topic and it’s worth looking out any insurance documents you may have, or asking the landlord to give you a copy.
Where then does that leave you if you have upcoming rent payments and limited or no cash available to meet your obligations?
The short answer here is for tenants to open up dialogue with their landlord and seek a rent relief. Some examples include —
- Negotiating a reduced rent — in shopping or retail centres tenants may find it useful to approach the landlord as part of a group of tenants, all wanting the same reduction in rent
- Suggesting monthly rather than quarterly rent payments — this may go some way in assisting cashflow as there will be smaller monthly amounts
- Offering to switch from market rent to turnover rent for the duration of the coronavirus outbreak — instead of paying full rent, tenants would instead pay a percentage of turnover to their landlords. This applies to retail or leisure units
- Asking if your landlord would apply any rent deposit towards the next rent payment
- Proposing a temporary ‘rent holiday’ — this would allow tenants either a deferment of rent or a temporary rent-free period until the initial uncertainty surrounding COVID-19 is over
It comes as no surprise many tenants may want to end their lease early.
In the first instance, you should speak to legal advisors about any legal right you may have to use any break option in your lease as well as any terms regarding notice periods.
Tenants may argue the COVID-19 outbreak is outwith their control and justifies early termination of a lease. In most cases this argument won’t fly, but it largely depends on the type of premises and the lease terms.
You might have heard the term ‘force majeure’ being spoken about a lot lately, and for more information on this, have a look at Jody Mitchell’s post.
If you’re thinking about leasing new premises, it’s worthwhile speaking to legal experts (our team can help of course) who can advise you on including a force majeure clause in your lease.
A force majeure clause would provide a way to end a lease where tenants are prevented from trading because a repeat of the coronavirus outbreak forced business shutdown.
And finally, it’s not all bad news — rates relief and government grants
The Scottish Government announced welcome measures for rates reliefs amidst the current uncertainty.
This includes grants for small businesses who pay minimal or no business rates as well as a 100% non-domestic rates relief for retail, hospitality and tourism for the coming year and a ‘freeze’ on next year’s rates increase.
With such a fast-moving situation though, there's understandably a lot for tenants to consider in a short period of time. So if you have any questions, please just let our commercial property team know, and we’ll keep you posted on any developments and updated guidance.


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Hyundai’s New Car Has A Solar Panel Roof
Hyundai just released a version of its Sonata hybrid car, and this time it comes with solar panels. The panels will help to charge the car’s battery.
According to Hyundai, about 60% of the battery power can be supplied if the solar roof was used for six hours in the day. The panels will be able to provide enough power to move the car for 1,300km a year.
The Korean carmaker says it plans to make the roof an option for other models in the range of the Sonata. This new innovation could mean more fuel efficiency and lower carbon emissions. The car also comes with other perks like an improved engine control system that ensures the efficiency of energy use.
Hyundai is now working on a second-generation solar roof. The roof will be semi-transparent so that it can allow light into the car.
Meanwhile, this car will only be exclusive to a few countries. It will only go on sale in Korea and North America. The company said it had no plans to sell it anywhere else. So, all of us in this part of this world will not get access to this new generation automobile.
This Hyundai car is not the first solar panel vehicle actually. The sun-powered charging on a vehicle is also available on certain Toyota Prius models. The Karma Revero also has a solar panel model available.
A start-up in the Netherlands called Lightyear is also working on an electric car that will use solar panels on its bonnet and roof. The panels will charge the vehicle’s batteries and will cost about £137,000 (approximately ₦60.4 million) when it is launched in 2021.
Kia is also reportedly working on one which is also expected to hit the market soon.

domain: news


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GMO stands for genetically modified organism. Which means genetic modifications to a LIVING thing. Salt is a mineral. Not an organism, and definitely not living. Therefore it has no genes to modify.
But that hasn’t stopped the makers of Himalania Rock Pink Salt from labeling their product as GMO-free. Why? Marketing. And clearly deceptive marketing, at that. According to chief executive Hayden Nasir, advertising the absence of GMOs was good business.
Himalania is one of the more preposterous examples of companies that are playing on consumer concerns or misinformation regarding GMOs in order to boost their own profits. Unwary consumers will pay the price through unnecessary premiums. And in the process, Himalania’s deceptive advertising injects further confusion regarding a proven scientific process and its repeatedly affirmed safety in the food supply.
Tell Himalania to stop using the deceptive butterfly label on their products by tweeting, posting to Facebook or emailing them.


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Posted on October 30, 2020
VCUDine is excited to announce new changes to the spring dining plans, including to continue the swipe exchange options added this fall. For the full list of the dining locations and their swipe exchange menus, visit vcu.campus.com. Also, for the first time, if a student enrolls in a spring dining plan then their dining dollars will roll over from the fall to the spring semester. Eligible dining plan holders who enroll in a spring dining plan can also roll over their bonus dining dollars once the initial amount is spent. Spring dining plans will be available to purchase starting on November 10. For the latest VCUDine updates, pop-ups, giveaways and more follow @VCU_Dining on Instagram, Twitter and Facebook.
RamTech is your one-stop-shop for all your technology needs with discounted education pricing on Apple and Dell products. Plus, students can feel secure with their purchase by using our on-campus computer repair team, fixIT. By appointment-only, fixIT can repair accidental damages, speed up a slow computer and more. For all other technology needs, visit us in-store to see our collection of electronics. For the latest store hours and to learn more about our services and products, please visit us online at ramtech.vcu.edu.
Barnes & Noble @ VCU is your one-stop-shop for the latest VCU holiday and basketball merchandise. Get into the holiday spirit with 25% off our sideline apparel section from now until January 31, 2021. Shop online or download the Barnes & Noble app to get 20% off one school spirit apparel item!
And this month, we’ll be featuring a VERY special guest from our basketball RAMily to show us some of his favorite gear. Stay tuned for the announcement on Facebook, Twitter and Instagram @VCUGear. For more information about Barnes & Noble @ VCU, please visit vcubooks.com.


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Last Updated: 1 August 2022
By now, everyone knows about the NFTs and ApeCoin (APE) of the Bored Ape Yacht Club (BAYC). But what many probably don’t know is that there is also a news platform called the Bored Ape Gazette. This news platform exists since June this year, and it already has plans to become a 24-hour platform.
The Gazette to 24/7
The Bored Ape Gazette exists to keep ApeCoin and NFT holders, among others, informed about the latest developments of Ape. The news platform has existed since 1 June this year and is growing exponentially. As a result, there are now plans to make it available 24 hours a day, 7 days a week.
The Gazette wants to realise this through financial support from the Ape DAO. This is a ‘Decentralised Autonomous Organisation’ that makes choices about the funds. The community can certainly use a 24/7 news platform. The Ape community is growing so fast that there is plenty of news to report.
“With the support of the DAO, the Bored Ape Gazette website will become a 24-hour news site,” Gazette told the ApeCoin forum. This news site will be complete with news about the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC), and Otherdeed.
Many more features are also coming, the Bored Ape Gazette reports. “There will be an APE price chart complete with a tradeview, a calendar with important dates such as DAO voting and other community-related events, a ‘classified’ section where community members can post their BAYC/Yuga-related art and services, and other resources that will keep the community and the world informed of all things Ape.”
How much may it cost?
The Bored Ape Gazette says it can begin this upgrade immediately. “Once the DAO approves this grant, coverage of all things Ape will increase from 1-2 stories per day to 3-5.”
To this end, the Gazette plans to receive $10,000 per month for articles, as well as set aside a separate pot for revamping the website. In total, the news platform wants 150,000 dollars for the first year.


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ZIMBABWE'S largest food manufacturer National Foods (Natfoods) said this week it witnessed volume increases across most of its business units in the first quarter of this year, driven by a wide range of product innovations.
The company said it would bring more new products to the market and commission new plants in the near future.
However, on a year-to-year basis, volumes declined by 5% to 418 000 tonnes compared to last year.
The decline in volumes was largely caused by the flour unit which was affected by higher wheat prices globally leading to higher bread prices. Again, the entrance of new players in the flour milling market heightened competition in the sector.
In its trading update for the first quarter ended March 31, 2023, Natfoods said volumes in the stockfeeds unit showed encouraging growth in the last two quarters after a difficult first quarter.
This has been driven largely by the poultry category.
“In similar vein, the maize unit has shown solid recovery over the last two quarters, which traditionally are the peak period for the business.
Natfoods has launched a number of sorghum and millet-based products, providing consumers with a wider range of healthy starch options.” the company said.
- National Foods set for VFEX listing
- Natfoods volumes rise
- National Foods volumes seen rising on drought
The food manufacturer indicated that the down-packed unit continued to show steady volume improvements buoyed by value rice, which saw increased volumes on the back of its affordability, notably compared to bread.
The snacks unit produced solid volume growth for the period, mainly in the hard snacks category while the King range continued to lead the market in the soft snacks category.
“The CCB (cereals) unit witnessed a volume increase of 42%.
A new breakfast cereal range comprising flakes and instant cereals was launched in December 2022. To date, the products have been well received by the market.
“As advised previously, the group has a substantial pipeline of new projects, with a projected investment value of US$30 million over the course of this financial year and next,” Natfoods said.
The company added that these projects will see Natfoods reducing imports of manufactured food products into the country.
Natfoods said that the Harare breakfast cereal plant had been commissioned and the first products have been released to the market.
Further additions are expected to be made to the range of breakfast cereals over the coming period.
“Installation of the new state-of-the-art flour mill in Bulawayo is almost complete and this plant is expected to be commissioned in June 2023. Work on the new pasta and biscuit plants is underway at Stirling Road, Harare. It is expected that these plants will be commissioned late in 2023,” Natfoods said.


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Technology news for Australia's largest enterprises
Internet of Things
AIDA news stories
Avaya automates and streamlines AIDA's contact centre systems
Australian-based AIDA Group has chosen Avaya's contact centre technology in order to transform its call centre and customer experience processes.


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Brand Licensing Europe 2014 expects to top last year’s record-breaking attendance with even more features and new brands on the floor.
Brands with Influence has signed on to manage the brand licensing of BBC Worldwide's tween/teen show "The Next Step."
IMG and Topman have announced a new collaboration between youth brand American Freshman and Jamal Edwards, founder of SB.TV.
Sainsbury’s has inked an exclusive three-year partnership with Centum Books to develop a range of books aimed at children from birth to 7-years-old.
DC Thomson Consumer Products will be presenting its portfolio of iconic brands and a range of third-party properties at Brand Licensing Europe next week.
Warner Bros. Consumer Products U.K. has launched a promotional campaign at U.K. independent toy retailer The Entertainer for its series “Teen Titans Go!”
Kids' healthy living brand Bloomers! Edutainment has signed its first major licensee–Joint Merchant for toys.
The University of Georgia has tapped Fermata Partners as its worldwide licensing agency, in a new five-year deal.
WildWorks, a developer of online worlds and free-to-play games, has appointed Peeko as the worldwide licensing agent for its Animal Jam brand.
Epic Rights has signed a number of international licensing agents to represent its roster of clients in specific markets around the globe.
Crosby Brand Management Group has signed on to represent the Bruce Lee brand as a sub-agent of United Talent Agency in Asia Pacific.
Celebrity designer David Tutera has extended his brand to wall art, picture frames, decorative mirrors and home storage products with Concepts in Time.
Fermata Partners has launched Fermata College, a new division to represent college and university trademark licensing programs.
Twentieth Century Fox Home Entertainment is promoting the DVD release of its animated film Rio 2 with the Summer Party Tour, which spans across the U.S. this month.
Hasbro and IDW will auction off a one-of-kind My Little Pony: Friendship is Magic comic book for charity.
Univision Communications and Experian Consumer Services-Affinity have launched financial resource center for the U.S. Hispanic community.
The deadline to nominate junior licensing industry professionals for the Licensing Industry Merchandisers' Association U.K.'s new Rising Stars award is tomorrow.
Fisher-Price has launched the first-ever Thomas & Friends Wooden Railway catalog, e-commerce website and shops-in-shops.
Target is teaming up with four YouTube stars along with Design Hunter L.A. for a YouTube video series.
Hasbro returns to Comic-Con International in San Diego, Calif., this week to celebrate its iconic brands and licensed offerings.
Game company Pixowl has signed on to create an original simulation mobile game featuring Garfield in a new partnership with Paws, Inc.
©2014 ADVANSTAR COMMUNICATIONS INC. All rights reserved.


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You are probably aware that Congress is trying to find ways to cut government spending and reduce the size of the U.S. deficit.
Everywhere we look these days, we are encouraged to buy local. And with good reason. Locally produced foods help support local farmers and encourage a sense of community.
Let us know your thoughts on GMOs and how they affect your shopping habits.
Integrity of organic practices protected in final bill
Do you know what Acesulfame-K is? How much folate do you consume in a day?
What's the difference between organic and natural? Isn't "natural food" just as safe and healthy as organic food?
Pesticides have made news headlines several times recently. The annual Pesticide Data Program (PDP) summary released by the U.S.
In this interview, Chef Ann Cooper explains why she thinks organic is worth it in schools and offers tips on how to make better food in schools a reality.
Sign up for our newsletter to get the latest organic news, tips and recipes every week.


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Even Though there are substantial quantities of businesses possible in the sector which are supplying content writing services but you always ought to pick...
Microsoft today announced that it is making a serious commitment to the open source Apache Spark cluster computing framework. Read more: techcrunch.com
Digital self-service shopping startup MUUME has picked up CHF2.2m ($2.28m) of growth financing led by German investor Heliad Equity Partners.
TTV Capital has reeled in almost $59.4m for its fourth venture capital fund, which is more than half of the total sought amount of $100m. Read more: AltAssets.net
David Kessler points to the old formula of supply and demand as one of the main reasons why crowdfunding has become such a viable option so quickly for commercial real estate investors. Read more: www.rejournals.com
The framework enables FSA and MAS to refer FinTech companies in their countries to each other’s markets. Read more: www.finextra.com
The robots are here! But before you run for the hills, we're talking R2D2, rather than Daleks. Benevolent machines, doing our heavy lifting, but better, faster and more reliably. Read more: businessnewswales.com


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Massive movements of atmosphere, bucketfuls of sky water, beneath contempt amounts of lack of warm and not a ray of solar stuff at the Castle this morn.
Still putting coloured stuff on the walls and things (mainly the floors), still haven’t got the butler to fire up the furnace, and still watching the garden disintegrate “under the wevver”.
Apparently scientists dahn on the sarf pole do-da are not happy snowpersons, a row has broken out over the fate of one of the country's most distinguished scientific organisations, the British Antarctic Survey. The 60-year-old outfit, whose achievements have included the discovery of the hole in the ozone layer, is to be merged with the National Oceanography Centre in Southampton as part of a cost-saving exercise.
The merger – which would create a Centre for Ocean and Polar Science based in Southampton – has been proposed to satisfy government demands for major cuts to be made in the budget of the Natural Environment Research Council (NERC), which funds the BAS. Science minister David Willetts wants a 10% cut in NERC expenditure and a 45% reduction in its capital spending by 2015. Polar research, which is costly, has been chosen to take a major hit.
But the downgrade threat has outraged scientists and politicians who say it will seriously weaken Britain's scientific reputation and its ability to carry out climate research.
Oh dear what a shame; I do climate research for free-just read the first sentence of this piss poor blog every day...
A “Government advisor” has come up with a cunning plan to make the wevver better. Buyers of gas-guzzling sports cars and other large-engine vehicles would face a new purchase tax of up to £23,000.
Even the price of some small cars would rise by more than £1,500 in exchange for the abolition of annual Vehicle Excise Duty payments.
But buyers of new small efficient cars would get a government subsidy of up to £750, under the proposed rules, which are being promoted by the Liberal Democrats.
The proposals for vehicle taxation come as the Treasury considers the best way to reform or replace VED to respond to the increasing fuel efficiency of modern cars.
For instance, the purchase price of 1.25 litre petrol Ford Fiesta would rise from £9,084 today to £10,734. By contrast, a 1.6 litre diesel model of the same car would become cheaper, falling from £11,845 to £11,495.
Vehicles that currently have similar prices would diverge sharply under the new rules, Mr Leunig suggests. For example, he cites Ford and Chrysler people-carriers, currently both on sale for around £28,000.
Under the new scheme, the Chrysler would be £3950 more expensive than the Ford, because it has much higher emissions.
The biggest up-front subsidy of £750 would be applied to cars including the Toyota Yaris.While the most-polluting cars would attract very large tariffs, with some Aston Martin models facing a new sales charge of £23,050.
Around 150 luxury models -- with total annual sales of around 5400 cars --would face a first registration fee of £10,000 or more, the report estimates.
The plan is put forward today in a think-tank paper written by Tim Leunig, who has recently been appointed a special adviser to the Government.
Bugger! I have been saving my pennies to buy a new Asbo Martin...should be able to get it in abaht two hundred and fifty years....
A US brewery which announced it was making beer out of bull testicles as an April Fool's Day stunt has now done it for real.
The Wynkoop Brewing Company, in Denver, Colorado, has named its creation Rocky Mountain Oyster Stout.
Head brewer Andy Brown said: "Yes, the beer was inspired by our April Fools spoof video this spring, in which we claimed to have released a beer made with bull testicles.
"When we sent out the press release and the video link last April, we heard from brewers and beer writers who thought the beer was for real and loved the idea.
"So we've turned our joke into a reality. We've been making ballsy beer for the past few years. And this is great proof of that."
Mr Brown described the beer as an "assertive foreign-style stout, slightly viscous, with a deep brown colour".
Rocky Mountain Oyster Stout, named after the local name for fried bull's testicles - a delicacy in Colorado, goes on sale at the brewery's pub in Denver on 8 October.
"It has equally deep flavours of chocolate syrup, Kahlua, and espresso, along with a palpable level of alcohol and a savoury umami-like note. It finishes dry and roasted with a fast-fading hop bite," he added.
Glad I don’t drink.
Allegedly a survey has unearthed that one in five of us think that parsnips grow on trees.
According to the research, a worrying number of British grown-ups did not know that the root vegetable is grown underground.
Other figures dug up include 20% of adults who think that melons come from the ground.
And one in 20 believe they can find a Granny Smith in the potato aisle of a supermarket
To mark Potato Week, experts have now simplified how the veg is listed on shelves with signs stating “Fluffy”, “Salad” and “Smooth” so shoppers can select the right kind for their meals.
It comes as the poll of 2,000 Brits found half pick the wrong potato to roast.
More than a third can’t boil spuds without them crumbling or losing their shape and over a quarter ends up with lumpy mash.
Ms Evans added: “To get great results you need to pick the right type of potato.
Ye gods! Are we really that thick? Maybe the picture will educate the 20%.
A new species of puny dinosaur has been confirmed by researchers at the University of Chicago.
It has been named 'Pegomastax africanus' meaning 'thick jaw from Africa'.
The creature is so small it has taken decades to identity. The discovery was originally made in 1983 from a specimen found in a slab of red rock found in southern Africa in the 1960s.
Its size made Mr Sereno think whether "anyone else might spot the creature hiding among the lab drawers".
Pegomastax measures less than two feet (61cm) long and weighed less than a house cat.
It has been described as a cross between a bird, a porcupine and a vampire because of its fangs and blunt beak.
The creature belongs to a class of small herbivores called heterodontosaurus and lived around 200 million years ago.
Who’s not a pretty boy then...
Bees at a cluster of apiaries in north-eastern France have been producing honey in mysterious shades of blue and green, alarming their keepers who now believe residue from containers of M&M's candy processed at a nearby biogas plant is the cause.
Since August, beekeepers around the town of Ribeauville in the region of Alsace have seen bees returning to their hives carrying unidentified colourful substances that have turned their honey unnatural shades.
Agrivalor, the company operating the biogas plant, said it had tried to address the problem after being notified of it by the beekeepers.
"We discovered the problem at the same time they did. We quickly put in place a procedure to stop it," Philippe Meinrad, co-manager of Agrivalor, told Reuters.
He said the company had cleaned its containers and incoming waste would now be stored in a covered hall.
Mars operates a chocolate factory near Strasbourg, around 100 km (62 miles) away from the affected apiaries.
That’s it: I’m orf to test out Einstein’s theory
And today’s thought:
Two pints please landlord


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Marvel looking to create a connected universe across its games
Posted on March 10, 2014 by Brian(@NE_Brian) in General Nintendo, News
Over the past few years, Marvel has been building the “Marvel Cinematic Universe” through various media – movies, television, and more. Now there appear to be similar plans in place for video games as well.
Speaking at a SXSW panel on Saturday, Marvel VP of games TQ Jefferson said:
“You might have noticed that certain similarities and threads touch from one game to the next. Much like you see in publishing and film, we’re trying to build a gaming universe connected by common elements and narrative into a larger gaming initiative.”


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Joyson sees Takata's airbag scandal as the perfect time to strike. "All of this has given us a heaven-sent opportunity to enter the industry. What was a market split among four is now shared among three players, so the opportunities naturally have increased a lot," Joyson CEO Tang Yuxin told Bloomberg.
Key Safety is among the companies supplying some replacement inflators for automakers' Takata recalls, and Joyson has plans for the division even after the campaigns end. For example, the Chinese company wants to develop tech for its drive control systems to work with the airbags to anticipate a collision and prep the safety devices.
Takata's weak position in the airbag market could last for at least a couple of years because of lost future business. Experts found the combination of ammonium nitrate as an airbag propellant, the inflators' assembly, and high-humidity conditions were to blame for the ruptures. Honda pledged not to use the company's inflators in future vehicles, and Ford, Toyota, and Mazda also promised not to use the firm's parts with this chemical in their models.
Takata posted profits last quarter despite the crisis. However, the company expects recall-related expenses to pile up and might consider selling off whole divisions to survive. Look for all of its competitors, including Joyson, to fight to gobble up as much former Takata business as possible in the near future.


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Canon U.S.A. Announces New Executive Leadership Appointments
MELVILLE, N.Y., April 1, 2014 – Canon U.S.A., Inc., a leader in digital imaging solutions, today announced the appointment of Joe Adachi as the company’s new Chairman and CEO effective today. Since 2005, Mr. Adachi has been serving as President and CEO of Canon U.S.A., overseeing Canon’s operations in the Americas, and will maintain his current responsibilities as CEO. In addition, Yuichi Ishizuka has been named President and COO of Canon U.S.A.
In his new position, Mr. Ishizuka will be involved in the management of new business projects while continuing his current responsibilities as executive vice president and general manager for the Imaging Technologies & Communications Group, where he oversees the camera, video and inkjet printer groups.
“I look forward to my new assignment as President and COO of Canon U.S.A.,” said Ishizuka. “Mr. Adachi has a strong vision for our company’s future and I am honored to work together with him to take Canon to the next level.”


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China bans pork imports from Bulgaria
Pig imports from Bulgaria along with pork products originated from this country are banned in China starting from this week, according to an announcement made by the Chinese Customs Administration. The ban also targets pork products delivered recently who are to be returned or destroyed, according to the Chinese Authorities.
The measure was taken after Bulgaria reported its first case of African Swine Fever outbreak. China is already confronted with the disease and it's taken severe measures to protect its livestock.
Visitors that are entering the country have been asked to report their pork-containing foods and these items are to be sealed or destroyed.
Inside the country, Chinese local authorities have banned the local transportation of pigs to or from the provinces affected by the outbreaks and several other adjacent regions.
China's national pig herd is around 433 million heads, accounting for more than 50% of global pig population, and the industry is worth $128 billion. ASF outbreaks have been registered in Africa and Europe. There is no vaccine for the disease and even if the virus doesn't affect humans it can impact the sector with severe economic effects.
Seamorgh, the largest poultry production in Iran and Middle East, has launched an initial public ...
The Chinese candidate for the position of Director-General of UN's Food and Agriculture Organizat...


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A businesswoman in Stobswell has admitted she may be forced to relocate after her shop was flooded for the eighth time.
Staff at Room 39 were forced to move all their stock out of the clothing boutique after water started to pour in from a property above.
Wendy Sturrock has run the business out of Dura Street for five years but she has been left with a hefty repair bill.
Wendy said the water is coming in from properties above, which are managed by Hillcrest Housing Association.
Wendy – who also owns a hairdressers and a cafe on the street – has admitted she is growing frustrated by what she regards as a lack of action on the issue.
She said: “I can’t fault the Hillcrest tradesmen who have come to assist me but this is the eighth time now we’ve had water pouring into the shop and it has cost me about £3,000 every time.
“Hillcrest has investigated it in the past.
“There is no leak, it is water overrunning from elsewhere.
“It has really got to the stage now where I feel I’ve no other choice but to move the clothing store and the hairdressers.
“I love the businesses being situated in the area but how long can we keep putting up with this?
“During this incident we’ve had stock damage as well as call out charges to get my own people out.
“We were very fortunate we were still in the store when this happened.
“I’ve been disappointed with the way Hillcrest’s hierarchy is dealing with the matter. It’s costing us both a lot of money in repairs and it keeps happening.”
A spokeswoman for Hillcrest said: “When we were made aware of an issue at our property in Dura Street an electrician and plumber attended. Following the investigation no fault was found.
“Our maintenance officer and housing officer have made arrangements to visit our property as well as the shop below.”


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A local distillery is releasing a long-awaited batch of bourbon.
Grand Rapids-based Long Road Distillers said last week it will release Long Road Straight Bourbon whisky on April 10 at its location, at 537 Leonard St NW.
Statewide distribution will follow later in April.
Straight whisky, by definition, must be aged at least two years in a new American oak barrel that has been charred on the inside, according to Long Road.
Long Road Straight Bourbon is one of the first products the company, which opened in 2015, distilled.
"We've experimented with countless recipes and barrel profiles, and in the end, we feel like we took the time to get this one just right, without taking shortcuts,” said Jon O'Connor, co-founder and co-owner, Long Road Distillers.
The whisky's mash bill consists of corn and wheat from Heffron Farms in Belding and malted barley from Pilot Malt House in Byron Center.
The whisky will be bottled at 93 proof, or 46.5 percent alcohol by volume.
Leading up to the release, Long Road will be posting educational blogs on the significance of bourbon to the beverage industry, as well as "what makes a whisky straight and dispelling some common myths."


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We found 732 items for the tag: case
Feb 14, 2013 9:32 pm
The fourth incarnation of this NZXT chassis has hit the market. Have a look at what the Phantom 630 case offers this time around.
Feb 7, 2013 10:29 am
Fractal Design invokes its right to revise a great chassis and give us the Define XL R2 to look at today.
Feb 6, 2013 1:07 am
Mophie shipping extended battery case for the iPhone 5, should provide around 6 hours extra talk tim
Feb 4, 2013 6:33 am
If a SFF gaming cube isn't your style, the Node series has another card to play with the Node 605 for the home theatre crowd.
Jan 31, 2013 5:23 pm
SilverStone spices up the SFF chassis segment with the newly stylized SUGO SG-09.
Jan 30, 2013 2:43 pm
Fractal Design takes a crack at a SFF chassis with its Mini-ITX solution, the Node 304.
Jan 29, 2013 5:38 pm
John Williamson aka Pwnography6 is back again with another case modding guide. This time he shows you how to "sleeve" the cables of your power supply and cooling fans.
Jan 21, 2013 9:03 pm
Nokia releases 3D printable case schematics for their Lumia 820 mobile phone.
Jan 21, 2013 5:21 pm
Antec brings forth a rugged, military inspired, mid-tower chassis perfect for those military themed case mods everyone is doing these days. Say hello to the GX700 case.
Jan 16, 2013 11:30 pm
Jan 15, 2013 12:35 pm
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Silverstone's CES 2013 bag of tricks gets us excited for some cases!
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We take a close look at InWin's offerings at CES 2013
Jan 10, 2013 6:44 am
NZXT's new Phantom 630 pictured, features two SSD mounts behind the motherboard
Jan 10, 2013 4:44 am
Antec shows new GX700, updates P280 with white color at CES 2013
Jan 9, 2013 10:02 am
Corsair's massive 900D makes its debut at CES 2013
Jan 8, 2013 7:42 pm
The Phantom gets a redesign, now fully modular!
Jan 8, 2013 7:00 pm
Razor's project Fiona becomes Edge, all in one mobile solution comes at a price!
Jan 5, 2013 5:36 am
John Williamson aka Pwnography6 is back with another case modding guide. This time he takes a BitFenix Prodigy chassis and adds in a side panel window.
Dec 22, 2012 9:24 am
Results from the Cooler Master Case Mod Competition 2012 are here
Dec 22, 2012 8:32 am
Corsair's Surviving the End of the World Sweepstakes includes a kick ass PC!


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Legoland Malaysia will open its doors to the public soon, way ahead of schedule.
Many of us can remember spending hours of our childhood building structures from colourful Lego pieces. With a pinch of creativity, simple Lego bricks were cleverly stacked to construct vehicles, buildings and even cities, leaving many with fond memories of the construction toys.
Nonetheless, the initial announcement in 2008 about the arrival of the Legoland theme park to our shores elicited less than enthusiastic responses from some quarters.
Beautiful creation: The gates of Legoland Malaysia will officially open Sept 15.
In fact, the Malaysian Tourist Guide Council initially expressed disappointment as the Legoland park was an unfamiliar brand in the region and industry players were expecting theme park icons like Disneyland to be set up in Iskandar instead.
But, after more than two years of changing the minds of sceptics and efforts to attract the public, Legoland Malaysia is ready to welcome enthusiasts and cynics alike to take a joy ride come Sept 15, 2012.
“We are opening earlier than expected so that is a good thing,” Legoland Malaysia general manager Siegfried Boerst said.
The theme park was originally slated to open in 2013.
Legoland Malaysia is the first Legoland in Asia and the sixth in the world. The 76 acre theme park features seven themed areas with more than 40 interactive rides, shows and attractions.
Legoland started promoting its pre-opening annual passes late last year and Boerst noted that there was huge interest in the theme park from the public as well as trade partners. Much to the delight of Boerst, more than 45,000 annual passes have been snapped up.
Magnificent: A miniature of the Sultan Abdul Samad Building featured in Legoland Malaysia.
“I believe interest will grow with word of mouth particularly when we open and people start coming to experience what Legoland has to offer,” Boerst said.
The theme park is targeting over a million visitors annually in its first few years and Boerst expects visitor numbers to hit 1.8 million by 2020. On average, annual pass holders are expected to visit Legoland four to five times a year.
The bulk of the park’s traffic will mainly be local and Singaporean visitors, but plans are afoot to draw more international tourists.
The growth in visitor numbers, Boerst said, will be supported by the growing tourism industry here.
“We hope to tap into the 40 million tourists a year expected to come into Malaysia. We want to be a part of the attractions for new visitors as well,” he said.
Legoland Malaysia a part of the tourism landscape
According to Tourism Malaysia, there were 24.7 million recorded tourist arrivals last year, with tourism receipts totalling RM58.3bil. The Malaysia Tourism Plan 2020 is targeting 36 million tourist arrivals and RM168bil in tourism receipts by 2020.
Legoland parks typically house miniature Lego structures built around themes such as Star Wars as well as mini villages with landmarks in the area. Other Legoland parks are located in Denmark, Germany, the UK and the US.
Hop on: A train that runs through the park.
The heart of Legoland Malaysia is Miniland, which features various Asian landmarks recreated using more than 25 million Lego bricks.
Apart from Legoland’s own features, Boerst believes that up and coming attractions nearby will drive visitors to the Iskandar region and by extension, to Legoland.
“Legoland fits well with the tourism pillar of Iskandar. There is a good concept for Iskandar and we are working with other attractions in the vicinity to offer attractive packages,” Boerst said.
The Puteri Harbour Family Theme Park in Nusajaya is scheduled for a November opening with attractions such as Lat’s Place and a Sanrio Hello Kitty Theme Park among other things. Iskandar Malaysia is looking to add more theme parks for the region to boost tourism activity there.
Some have been quick to point out that Legoland is no match for Singapore’s integrated resorts, which have stronger products to offer. The attractions at the resorts include Universal Studios Singapore, a casino and the Marine Life Park which cater to a wide range of visitors compared to Legoland’s target audience of young children.
Legoland Malaysia model builders Muhammad Khairul Zainon Noor (left) and Stefan Bentivoglio putting on the final piece of the miniature Petronas Twin Towers.
But Boerst believes that Singapore’s resorts are not direct competitors.
“It is always good to have healthy competition, but I believe we can profit from each other. Legoland’s presence here adds to the whole tourism attraction in this part of South-East Asia and tourists on longer stays can visit parks in both countries,” he said.
Additionally, a water park and Legoland Hotel are slated to be opened in 2013 and 2014 respectively, which would mean more integrated offerings for Legoland. This will draw longer-staying visitors and add to Legoland’s revenue.
Legoland expects to generate more than RM100mil in revenue in its first year of operations. This will come from all the attractions in the park, restaurants as well as retail outlets.
“We should see operational profit in the first year itself, but to recover the full investment will depend on the long-term development of the park which usually takes about 15 to 20 years,” Boerst said.
The combined cost of the theme park and planned water park is RM720mil, which is fully funded by the Malaysian government, while the construction of the hotel will cost RM190mil.
Boerst said, although Legoland essentially only manages the park in Malaysia, UK-based Merlin Entertainments Group, the owner and operator of the other Legoland parks, will look into acquiring at least a 20% stake in Legoland Malaysia moving forward.
This will increase Merlin’s reach in Asia, which is expected to be the new playground for theme park operators as the North American and European markets mature and visitor numbers plateau.
A report by Pricewaterhouse-Coopers forecast Asian theme park attendance to grow to 290 million in 2012 from 249 million in 2007, while spending in that period is expected to rise from US$6.4bil (RM19.93bil) to US$8.4bil.
Market research company Global Industry Analysts Inc estimates that the global theme parks market could reach US$29.5bil by the year 2015 and US$31.8bil by 2017, offering plenty of room for growth in Asia.
Boerst said Legoland may venture into other Asian markets and is already in negotiations for a theme park in South Korea.
Sneak peak: A view of Miniland
“In Asia, the market is huge and it is relatively untapped. In the past, local players tend to lack the financial strength and expertise to set up really good theme parks. But the market is ready for that now,” he said.
He noted that the entertainment industry in East Asia particularly is not saturated and as infrastructure improves and disposable income increases, the region is turning out to be an important market.
He added that Legoland parks did not see much of a slowdown during the economic downturn despite views that consumers would cut down on leisure pursuits.
“We have seen a good 10% growth in visitors and sales annually for the whole of the Merlin Group. I am positive that if everyone focuses on what needs to be done here, we will see investments growing in Iskandar and that can only be beneficial for Legoland Malaysia.
“This is a new market for us so we are optimistic,” he said. – By Joy Lee, Photos by Abdul Rahman Embong
and Kevin Tan
For more, please visit the Legoland Malaysia official website
Map: Legoland Malaysia
Legoland Malaysia on track
Legoland to showcase iconic buildings
Paid to play
Tags: interactive rides, Iskandar economic zone, Johor, Johor Baru, lego, Lego model builder, Legoland, Legoland Hotel, Legoland Malaysia, Legoland Park, Malaysia Tourism Plan 2020, miniature replica, theme park, theme park ride


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But alongside that large increase in legitimate NFT business, Chainalysis said it did find actors wash trading to artificially increase the value of NFTs and money laundering through the purchase of NFTs.
“In the case of NFT wash trading, the goal would be to make one’s NFT appear more valuable than it really is by ‘selling it’ to a new wallet the original owner also controls. In theory, this would be relatively easy with NFTs, as many NFT trading platforms allow users to trade by simply connecting their wallet to the platform, with no need to identify themselves,” the researchers explained.
“With blockchain analysis, however, we can track NFT wash trading by analyzing sales of NFTs to addresses that were self-financed, meaning they were funded either by the selling address or by the address that initially funded the selling address.
NFT wash trading exists in a murky legal area. While wash trading is prohibited in conventional securities and futures, wash trading involving NFTs has yet to be the subject of an enforcement action.
However, that could change as regulators shift focus and apply existing anti-fraud authorities to new NFT markets. More generally, wash trading in NFTs can create an unfair marketplace for those who purchase artificially inflated tokens, and its existence can undermine trust in the NFT ecosystem, inhibiting future growth.
We encourage NFT marketplaces to discourage this activity as much as possible.
But, in the event you have been the victim of a wash trade, the unfortunate reality is that you have an uphill battle in ever seeing your money again. The lack of sophistication in industry available tools/mechanisms that could accurately identify and/or predict potential risks, as well as proving intent by the “known” parties to the transaction, make it a near-impossible feat — at least right now.
As NFTs are still nascent with respect to their regulation and oversight, applying traditional wash trading rules falls under a “gray area” for lawmakers, but doesn’t eliminate the unethical and illegitimate character traits that still involve the intent to mislead the market and investors.
Reportedly ethereum nft wash tradingview
Recently, Bloomberg and other publications have documented wash trades in NFT that require the immediate attention of the entire community.
In wash trading, the scammers participate in the following trends to manipulate the industry:
- Purchasing an item to stimulate artificial demand for the project.
- Buying assets or rights to create publicity for the artist.
- Artificially inflating metrics by purchasing and selling assets.
- Collecting rewards using assets that are more valuable than the cost-of-attack.
These practices have created an unsafe and unfair environment for investors and collectors.
The CryptoPunk 9998 Case
Recently, a new report emerged where scammers engaged in NFT wash trading for an NFT by CryptoPunk for the whopping value of $532 Million.
Ethereum and Wrapped Ethereum, so there’s likely wash trading activity we’re not considering here.”
The firm found that while a majority of wash traders have been unsuccessful, those who have succeeded have done so in a way that the entire group of 262 saw massive profit overall: 110 gained $8,875,315 from wash trading, while the majority 152 unprofitable traders only lost $416,948.
Chainalysis says that the situation becomes even worse when it considered that the majority of that nearly $8.9 million in profit is from unsuspecting buyers who were led to believe an NFT they purchased had been growing in value as it moved from one buyer to another.
An Unregulated Marketplace is Ripe for Scams and Theft
NFTs are a contentious issue, especially considering the number of high-profile stories about major sales in recent months.
Now we have a sense of how severe the wash trading has become since LooksRare launched on January 10.
NFT analytics firmCryptoSlamreported today that it has identifiedmore than $8.3 billion worth of wash tradingfrom LooksRare, making up the vast majority of trading volume on the marketplace to date.
Most of the wash trading comes from royalty-free collections, which means that sellers don’t have to pay the creators a secondary sale fee.Larva Labs’ Meebitshas seen the most wash trading at $4.4 billion, with Terraforms at $2.9 billion,Lootat $705 million, and CryptoPhunks (aCryptoPunksderivative project) at $251 million, plus $62 million from other projects.
According to public blockchain data collected byDune Analytics, LooksRare has amassed more than $9.5 billion in totalEthereumtrading volume since its launch.
Most NFT trading platforms don’t require their users to verify their identities as they aren’t subject to any KYC requirements. This means that the only thing required to trade NFTs is connecting a wallet to the platform.
With no identification required, users can connect as many wallets as they want to the platform and engage in an endless circle of selling themselves any amount of NFTs.
To get a better understanding of how big and how profitable wash trading really is, Chainalysis analyzed sales of NFTs to Ethereum addresses that were self-financed, meaning they were funded either by the selling address or the address that initially funded the selling address.
Analysis of these sales showed that some NFT sellers have conducted hundreds of wash trades.
Eventually, that last step may be automated as the platform’s algorithm is refined.
$LOOKS Day 17 trading rewards have been distributed.
Active LOOKS stakers earn WETH every block (every 15 secs or so)
✨ALL COLLECTIONS NOW EARN TRADING REWARDS!✨
💰 4,261 $WETH ($10.2M USD) 💰 2,866,500 LOOKS ($12.6M USD)
— LooksRare 👀💎 – NFT Marketplace (@LooksRareNFT) January 28, 2022
LooksRare has generated a lot of buzz right out of the gate, and has routinely delivered$20 million or moreworth of total daily rewards to users since launch.
Recently, the blockchain research firm Chainalysispublisheda preview of the “The Chainalysis 2022 Crypto Crime Report” where they take a deep dive into NFTs illicit activities such as wash trading and money laundering.
Wash Trading in the NFT World
When investors sell and buy their own assets at the same time, they are creating a kind of market manipulation by inflating trading volume, and this is called wash trading.
The report analyzed NFT wash trading in addresses that were self-financed. The report revealed that over 262 addresses gained over $8.4 million making wash trading.
It is important to note that only NFTs bought and sold on the Ethereum network were analysed by Chainalysis; the story could very well be different on other chains such as Solana.
According to the analysis, wash trading isn’t a dominant phenomenon yet. However, if it becomes more prominent, it could encourage regulators to define NFT’s asset class.
Wash trading isn’t the only crime-related activity that can attract the attention of regulators.
NFTs are gradually becoming a suitable option for money laundering. The Chainalysis Report also identified an increase in the value of NFTs purchased by illicit addresses totalling $1.4 million in Q4 2021.
NFTs are not the only cryptocurrency used to carry out crimes.
And according to Chainalysis, $8.6 billion worth of cryptocurrencies have so far been used in money laundering schemes in 2022.


text: Bombardiers largest business jet made its debut on Sunday in Las Vegas. Most major manufacturers, including Gulfstream and Bombardier which is also contending with rising hurdles in its commercialjet business have slowed. The federal government last week admitted it still doesnt know who managed to get their hands on the commercially sensitive information from a private defence contractor last year, with US officials reportedly issuing their Australian. Luckily, New Zealand offers a range of gorgeous sites where you can sit this picturesque spot is perfect for the outdoorsy types With sailing, jet boating,. New Zealand These days the majority of private jet customers choose to charter, rather than buy Owning a jet is a. Kick off your trip to Queenstown in adrenalinepumping style on a private jet boat that takes you Enjoy highoctane thrills off New Zealands coastline on this. New Zealand He added These days the majority of private jet customers choose to charter, rather than buy Owning a jet is a huge financial commitment For the G650s $65m price tag alone, you could charter almost 400 return trips. While Australia is home to some of the deadliest snakes on Earth, our neighbour New Zealand is quite happily snakefree That was however, until an "unwanted stowaway" hitched a ride on a private jet from Brisbane to Auckland The. The acquisition has been made in order to bring Hawkes Bay its first jet charter service Bay business people to more readily reach other parts of New Zealand "With the companys new charter rate, fast comfortable travel is extremely. Dunedin New Zealand has been hit by a severe shortage of jet fuel, with thousands of domestic and international we dont expect it to happen again, she said Its private business that owns that line, and you would expect them to.


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According to the World Travel & Tourism Council, the tourism industry is one of the world’s largest, with more than 277 million jobs globally. The industry made more than $7 trillion in 2013 and makes up 9.8 percent of the world’s gross domestic product.
This week’s featured job listing gives you the opportunity to pack up your suitcase to be a part of it.
Orbitz Worldwide is seeking a partner marketing and media sales manager in its San Francisco or Las Vegas office.
Orbitz Worldwide includes Orbitz.com, Cheaptickets.com, ebbookers.com and Hotelclub.com. In 2014, Orbitz Worldwide brought in about $12 billion in bookings, and with the company’s upcoming merger with Expedia, its brands will join Hotels.com, Hotwire, Travelocity, Trivago, CarRentals.com and other travel sites to take an even bigger slice of the travel pie.


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TOKYO—The shift of Sony Corp.'s manufacturing out of Japan to China has whittled the company's yen exposure to the dollar down to "virtually zero," but the electronics maker could be vulnerable to a strengthening Chinese yuan in the future, the company's corporate treasurer said.
This move has "greatly changed Sony's currency landscape" over the past few years, Hiroshi Kurihara told The Wall Street Journal during an interview Thursday.
While the company used to track the dollar's moves against the yen rate obsessively, he said "now we don't really care."
"On a net basis, our U.S. dollar exposure is becoming virtually zero," said Mr. Kurihara, who is in charge of Sony Global Treasury Services, a unit that handles nearly all of Sony's hedging in about 35 different currencies.
Historically, Sony manufactured many goods such as television sets and PlayStation game consoles in Japan and then sold some of those products in the U.S. This meant that Sony would incur its costs in yen while generating its revenue in dollars, leaving itself vulnerable to changes in the dollar-yen rate.
Sony has moved some production abroad in recent years, either at its own facilities in China or by using China-based contract manufacturers. Those costs are incurred in dollars, allowing the company to balance its dollar sales and costs.
For major Japanese exporters such as Sony, which generates more than 70% of its sales outside of Japan, the growing use of China as a manufacturing base has resulted in easing one of the company's major nonbusiness risks: a strong yen. When the yen rises against other currencies, it can drag on a Japanese company's bottom line because it eats into overseas profit brought back to Japan.
So when the yen surged to a 15-year high against the dollar late last year—and it continues to hover near those levels—there was a great deal of handwringing about how this might deal a devastating blow to Japanese exporters. But most companies have managed to avoid damaging losses by handling currency exposures better.
The dollar stood at 82.24 yen on Thursday morning in New York.
For the current fiscal year to March, Sony has said each one-yen fall in the U.S. dollar's average rate shaves two billion yen ($24.4 million) off the company's full-year operating profit. Mr. Kurihara said that figure will be even less next fiscal year. By comparison, the same currency swing cost Sony eight billion yen in operating profit in the fiscal year ended in March 2002.
Sony currently expects to post a group net profit of 70 billion yen for the current fiscal year after reporting a loss of 40.8 billion yen a year earlier largely because of restructuring costs.
Signaling better growth prospects outside of Japan, Sony is also bringing a smaller percentage of its overseas profit back to Japan. Mr. Kurihara said Sony tends to leave dollar-based and euro-based overseas profits in those markets, because it might need to retain some money in those currencies for future acquisitions or other expenses.
For rapidly growing countries such as Brazil, India and China, Sony is choosing not to repatriate profits from those markets, because they will likely need money in those currencies to pay for future strategic investments.
As a result, Mr. Kurihara said Sony now repatriates about 20% to 30% of its annual overseas profit back into yen, compared with about 50% five years ago.
Tokyo-based Sony said it hedges its currency exposure on a monthly or three-month rolling basis with basic forward contracts. Most of its overseas sales subsidiaries incur costs in either yen (for most Asian countries), dollars (for Latin America and Russia) or euros (for European countries).
The subsidiaries will, however, receive revenue in their local currency.
Sony said the goal of its hedging isn't to earn money from speculating in foreign-exchange markets. The only goal is to reduce the fluctuations on profits from currency swings.
"There is enough risk in our own business that we don't need to assume more risk by going into currencies," said Mr. Kurihara, who reports to Sony Chief Financial Officer Masaru Kato.
Sony's biggest currency exposure now is with the euro. A one-yen drop in the European currency's average foreign-exchange rate for the full year results in a loss of seven billion yen in operating profit for the current year ending in March. The same move dealt a 5.5-billion-yen blow to Sony's operating profit in the fiscal year ended in March 2002.
Mr. Kurihara said part of the problem is that Sony has sold or closed many factories in Europe, greatly reducing its costs in the euro. What's more, contract manufacturers with factories in the region also want to be paid in dollars, because they buy supplies and materials in dollars as well.
In China, Sony is likely to benefit for now if the yuan appreciates against global currencies as China loosens its currency controls, Mr. Kurihara said. Sony has a long position in the yuan because the company's sales far outweigh its costs since contract manufacturers accept payment in dollars.
Sony doesn't disclose its sales in China.
Mr. Kurihara said he expects Sony's contract manufacturers and Chinese suppliers to turn to the yuan for settlement in the future. This would reverse Sony's current cost structure in China and leave it exposed to yuan appreciation.
He doesn't expect the change to happen overnight, saying it will take at least five years for the entire supply chain in China to move to settlement in yuan, also known as the renminbi. If that happens, he said, "that would be a problem for Sony."
"In 10 years, the renminbi may be our biggest exposure," Mr. Kurihara said. "It's still far away. It will probably take more than five years, but less than 10."
Write to Daisuke Wakabayashi at Daisuke.Wakabayashi@wsj.com


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China will allow the resumption of overseas group tours to 20 countries, including Thailand, from February 6, the Ministry of Culture and Tourism announced Friday.
The Chinese authorities have given their approval for group tours and “flight + hotel” services in 20 countries. In addition to Thailand, these are Indonesia, Cambodia, Maldives, Sri Lanka, Philippines, Malaysia, Singapore, Laos, United Arab Emirates, Egypt, Kenya, South Africa, Russia, Switzerland, Hungary, New Zealand, Fiji, Cuba and Argentina.
Thailand’s largest source of tourists
China is by far the largest source of tourists to Thailand, but the recent easing of travel restrictions by Beijing only applied to individual travelers.
Thailand was one of the most popular vacation destinations over the Lunar New Year, according to Trip.com, which reported a six-fold rise in travel searches from China.
As much as 7-8 million expected for the whole year
Chinese tourist arrivals are expected to start rising sharply in the second quarter of this year and could reach 7-8 million for the whole year.
According to a recent study by the University of the Thai Chamber of Commerce, this could raise the overall number of foreign immigrants to between 26 and 27 million.
In 2019, Thailand welcomed 11.5 million Chinese visitors out of a total of 39 million international arrivals, of which about 4.3 million were from group travel. Tourism receipts from Chinese travelers represented 531 billion bahts in 2019, a significant part of the 1.9 trillion total.
No travel restrictions for Chinese in Thailand
After the exponential increase in Covid cases in China, many countries, such as South Korea and Japan, have imposed testing restrictions on visitors from China. But not Thailand, which remains the favorite destination for Chinese when they travel abroad.
Beijing has responded by ceasing to grant visas to residents of its two Asian neighbors, branding their entry requirements for visitors from China as “discriminatory.”


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Tesla To Pay $5.4M To End Autopilot, Safety Features Row
By Dave Simpson (May 29, 2018, 6:04 PM EDT) -- Tesla Inc. has agreed to pay $5.4 million to end a putative class action in California federal court brought by Model S and Model X drivers alleging the electric-car maker delayed safety features and a $5,000 enhanced autopilot system that turned out to be faulty, according to court documents filed by the drivers.
The drivers on Friday asked the court for preliminary approval of the settlement, which would end allegations by drivers in California, Colorado, Florida and New Jersey saying that Tesla failed to implement its enhanced autopilot software and safety features, including collision avoidance and automatic emergency braking, by a...
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This year is setting up to be a blockbuster for IPOs particularly in the tech space. Over the past several weeks large companies such as Slack and Uber have voiced their intention to IPO. Others are even further along in the process. Lyft filed an S-1 on March 1 with details about its finances and even a ticker picked out (LYFT). In total, companies with about $250 billion of market cap are planning to IPO this year. With that, here are five things to keep in mind related to the IPO market.
1) IPO performance is an important risk-on, risk-off indicator for the stocks
The IPO market tells investors a lot about the risk environment based on the notional amount sold through IPOs, and how the shares trade after. A robust IPO market signals high liquidity and enthusiastic demand to invest in risky new shares. A muted IPO market suggests risk appetite is suppressed.
Over the past 3 years, IPO shares have generally outperformed the S&P 500. In 2006 – mid 2018, the amount of IPOs steadily increased and new shares outperformed the market. To track the performance post the offering, the IPO ETF is a good barometer.
The ETF tracks the rules based Renaissance IPO Index, which adds sizeable new companies on a fast entry basis and the rest upon scheduled quarterly reviews. Companies that have been public for two years are removed at the next quarterly review.
In July 2018, the IPO ETF peaked vs. the market and started underperforming. This was a harbinger of the market sell-off which started in October. The IPO ETF bottomed relative to the market at the end of December, and has rallied since.
Long/short performance of IPO etf vs. SPY
2) Since 2016, performance of tech companies after IPO is a mixed bag with Software leading
Focusing on the tech sector, the largest IPOs over the past 3 years are a mixed bag. Some companies such as Docusign (+91.6% since IPO), Ceridian (+116%) and Pluralsight (+120%) have done very well. All three are in the software space. Others like GreenSky (-51%), Sogou (-53%) and Trivago (-52%) have disappointed investors since their IPO. The biggest IPO in recent memory, Snap is down 42% since its debut 2 years ago.
20 largest tech IPOs over the past 3 years
Smaller IPOs particularly in the SAAS sector have fared much better. For example, Okta (OKTA) went public on April 6, 2017 at $17 per share. Even buying the stock after its first day pop has produced a 230% return. However, not all SAAS IPOs have done well as Dropbox (DBX) is down 22% since its first day of trading
Performance of select software IPOs
3) IPO offerings have slowed since 2014 before an expected pickup in 2019
The notional value of US IPOs was about $20B and declined through the end of 2015 as investors waited for the US election for clarity. After the presidential election in 4Q2016, the amount increased steadily to $15b per quarter in the middle of 2018. Since then, the offering amount per quarter has declined back to $5b per quarter.
Notional Dollars of US IPOs by quarter
4) The rush to IPO is probably related to the presidential election in 2020 and recent economic weakness
From a company’s perspective, deciding whether to IPO depends on many variables. However, the recent rush to IPO in 2019 is probably related to 2 macro factors. First, the presidential election in 2020 will likely cause uncertainty similar to 2016 when the IPO market took a pause. Second, recent economic slowdown has increased the odds of a recession in late 2019 or 2020. Private companies want to get ahead of any recession when the IPO market will undoubtedly cool.
5) Large tech IPOs in the pipeline have a combined private market value of $250 billion
The details of upcoming IPOs have only recently started to trickle in and most companies have not released any detailed filings about size or valuation. The combined private market value of the largest tech IPOs is $250b. Assuming that 20% of the market cap will be floated in an IPO suggests about $50b of notional offerings in the next 12 months in the tech sector.
Large Tech unicorns expected to IPO in the next year
|Company||Valuation||Expected IPO Date||Industry|
|Palantir||$36-41b||2H19 – 1H20||Big data|
|Rackspace||$10b||2019||Cloud / Hosting|
|Robinhood||$5.6b||2019||Stock & crypto trading|
The implications for the stock market depends on several factors. All else equal, IPOs are negative for the overall market because it increases the supply of overall equity. Investors need to sell other stocks in order to buy an IPO (unless there’s idle cash). However if IPOs are well received by investors and trade strongly after, this would indicate a bullish market with robust liquidity. This was the type of market in the late 90’s.
Below is the company summary of the largest tech unicorns and the financial details known today.
Uber & Lyft – Lyft’s IPO roadshow is planned for mid-March 2019. In comparisons between Lyft and ride-sharing competitor Uber, some have called Lyft “cheap”, citing Lyft’s valuation is rumored to be <$25bn, about ⅕ of Uber’s rumored $120bn valuation. Uber is much bigger than Lyft in terms of total revenue and rides. However, Lyft is reportedly growing much more quickly than Uber, and the company has largely avoided negative press (unlike Uber). As for market share breakdown, in May 2018, Lyft revealed market share figures for the first time, claiming 35% of the US ride-share market. In some markets across the country, Lyft claims to have the largest share. Overall Lyft has gained on Uber’s share by about 40% as of February 2019. The two ride-share giants differ not only in terms of size and reputation, but also in terms of funding (see chart below). Of the 2, only Uber has used debt financing or private equity money.
Airbnb – As of Jan 2019, the online housing marketplace posted its 2nd consecutive year of positive EBITDA. Specific metrics released by the company show robust growth. The company expected 500m guests by end of 1Q19, up +100m from figures released Aug 2018. In 3Q18, the company told CNBC that it had passed $1 billion in quarterly revenue. Recently Airbnb expanded into the hotel space with its acquisition of Hotels Tonight. The company was valued at over $30 billion in financing rounds in 2016 and 2017.
Palantir – The SAAS company, founded by Peter Thiel in 2003, has been transitioning its revenue from government contracts to big businesses since 2017 in order to increase profitability in preparation for its IPO. The company has been historically secretive under the leadership of CEO John Karp, due to the nature of its work with government agencies – Karp recently said “I find out about a stopped terror attack in Europe about once a week”. He clarified that these included both pro- and anti-Muslim terror and cited the high-stakes nature of Palantir’s work as motivation. The company reported $880mm in revenue for 2018, up +280mm Y/Y. Recent comparable big data / analytics IPOs have traded in the 7-8x 1-year fwd revenues range.
Pinterest – Pinterest is one of the last remaining still-private social media giants and has raised about $1.5b of funding in the private market. The company filed for IPO in late Feb and aims for a valuation around $12b. Its revenue stream is generated solely through advertising and is estimated at $1b.
Postmates – The company filed confidentially for IPO on Feb 7, which it announced in a post on its blog. Postmates joins the highly competitive food delivery space. Public market players include recent delivery-specific IPOs such as Blue Apron (APRN) – IPO in 2017, Grubhub (GRUB) – IPO in 2014. As well as the recent entry of larger public companies into the food delivery space – Walmart (WMT), Weight Watchers (WTW), and Amazon (AMZN). Competition in the private markets includes UberEats, Plated, and Freshdirect.
The pieces are in motion for some of the largest private tech companies to go public this year. Even investors that don’t expect to buy the IPOs need to follow their progress. The ability of the market to digest this large supply of new companies will be a tell tale sign if stocks can continue to climb higher.
Special thanks to Evey Donatelli for helping to research this blog post


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Sometimes You Just Have to Add in Some Cricket Sound EffectsContinue Reading →
Businesses today have a wealth of information to draw upon. It comes from customer touchpoints, mobile interactions, internet-of-things (IoT) devices, e-commerce transactions, and many more sources. And corporate governance has made it easier to comply with data privacy rules, so organizations can be confident about the data quality.
But usefulness? That’s a major challenge that many brands are grappling with.
“The key is not how you collect data but how you tie it together,” says Anjul Bhambhri, Adobe vice president of platform ...Continue Reading →
Hundreds of thousands of potentially sensitive files from police departments across the United States were leaked online last week. The collection, dubbed “BlueLeaks” and made searchable online, stems from a security breach at a Texas web design and hosting company that maintains a number of state law enforcement data-sharing portals.
The collection — nearly 270 gigabytes in total — is the latest release from Distributed Denial of Secrets (DDoSecrets), an alternative to Wikileaks that publishes caches of ...Continue Reading →


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Daimler Ramps Up with 1,100 New Jobs
CLEVELAND, NC — Strong demand for Freightliners means parent Daimler Trucks North America (DTNA) is firing up a full second shift at its plant in Cleveland N.C., a move that will create more than 1,100 new jobs by the end of 2012.
The additional workers represent a 72-percent increase in personnel and will include approximately 1,072 shop employees and 29 engineering and support positions. ??Most of the jobs will be filled with recalled workers who were laid off in 2009.The ramp-up will nearly double the daily production rates at the Cleveland plant by October 2012.
The largest Freightliner plant in the U.S., this facility produces Cascadia, Columbia and Argosy models.
Demand growth has created backorders as long as six months for the Cascadia.
Freightliner trucks are also sold internationally, with nearly 20 percent of Cleveland-built trucks going to Australia, New Zealand and South Africa. ??In conjunction with the ramp-up at the Cleveland plant, DTNA also will hire 100 employees at its nearby components and logistics plant in Gastonia, N.C. The 90 new hourly employees in the factory and 10 salaried and hourly office employees primarily will staff a second and third shift.??“We are incredibly pleased to be able to make this announcement today and to welcome back so many of our valued employees,” said Roger Nielsen, COO of Daimler Trucks North America.
“The growing demand for Freightliner products is testimony to our brand focus on providing efficient business solutions for our customers, and access to Daimler resources and technology. We’re delivering trucks with industry-leading fuel-efficiency technology and the lowest total cost of ownership.”
Interested applicants may apply at dtna.jobs.


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Rogers wireless has begun taking online reservations for the BlackBerry Z30 smartphone device that launched today in Canada. Rogers initially was not going to carry the device, that was until the BlackBerry community spoke up and they reversed that decision.
In an e-mail today Rogers mentioned:
In response to customers’ feedback, we announced last week that Rogers will be offering the new BlackBerry Z30. Today, new and existing customers can now reserve the BlackBerry Z30 smartphone on our Rogers Reservation System. Details on pricing and availability be shared soon.” – MobileSyrup
No word when it will become available nor the pricing, but be looking to a similar price tag of $700, head on over to the Rogers Reservation System page.


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How Intel Smooth Sync Aims To Fix V-Sync's Biggest Issue For Gamers
The Arc Alchemist GPU family has had a bit of a rocky beginning for Intel. Laptops with Intel's latest GPUs are still trickling into the market, while the desktop variants are yet to be officially launched. But that has not stopped Intel from trying to hype up its new venture into the GPU market by advertising some of the advantages its Arc GPUs are said to incorporate. One of those is what the company refers to as Smooth Sync.
Smooth Sync is Intel's in-house display refresh-rate technology alongside support for VESA Adaptive Sync. The technology is aimed at laptops and desktops with fixed-refresh rate displays, which do not have support for Adaptive Sync. The way the feature will work is to counteract the screen-tearing effect caused by the GPU displaying frames at a higher rate than the display's refresh rate, allowing gamers to turn V-Sync "off" in their games.
The technology will be a software based feature that will be included in Intel's Arc graphics drivers, and will work alongside its Arc Alchemist graphics processors.
Time will tell how much of an improvement this will actually bring to gamers with budget PCs, but it is a promising feature that can be improved over time, being it is software based. As more laptops are introduced to the market with Arc GPUs and the upcoming launch of Arc desktop cards, the immediate future for Intel's first generation discrete GPU is still a bit uncertain. But with features such as Smooth Sync, and other advantages like Deep Link, that future is one we are excited to experience and learn more about.
Top Image Credit: Intel


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The Ernst & Young Entrepreneur Of the Year awards program recognized high-growth entrepreneurs who demonstrated excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. The 26 finalist companies were selected from 52 nominations by a panel of independent judges. Award winners were announced last night at a special gala event held at Utah’s Grand America Hotel.
Cariloha was recognized as one of the elite 26 finalists at the awards event and is looking forward to being a potential finalist and winner again next year.
Cariloha Founder and CEO, Jeff Pedersen, along with several Cariloha managers in attendance at the event, were honored to be recognized among so many outstanding entrepreneurial companies and leaders who, like Cariloha, are expanding their businesses at an impressive rate of speed and providing their employees and customers with boundless opportunities.
Key Statistics from the Entrepreneur of the Year Finalists
• Collectively, among the these entrepreneurs created nearly 3,000 jobs in the past three years providing 18,691 jobs at the end of 2012.
• The 26 finalist companies generated nearly $3.5 billion of revenue in 2012.
• Seventeen of the 35 finalist individuals, including Cariloha’s Founder Jeff Pedersen, are serial entrepreneurs. These finalists have started and grown at least one other company prior to leading their current company. Of those 17, two (one of whom being Jeff Pedersen) won the Entrepreneur Of The Year Award with a previous company.
• Collectively, these finalists grew their company’s employment by nearly 20% and their revenues by 28% between 2010 and 2012.
• Now in its 27th year, the Entrepreneur Of The Year Program has expanded globally to recognize company builders in over 140 cities and in more than 50 countries throughout the world.
Ernst & Young’s Entrepreneur Of The Year® Ernst & Young’s Entrepreneur Of The Year is the world’s most prestigious business award for entrepreneurs. The unique award recognizes the significant contributions of entrepreneurs who inspire others with their vision, leadership and achievement.


text: Rumors have been flying for months about a Magnolia Bakery in Chicago. Today we have confirmation that it is a reality! According to Chicago Breaking Business, Magnolia Bakery has signed a lease for 2,550 square feet in the Block 37 shops. The NYC cupcake haven, made famous by Sex and the City, will be located on the first floor of the indoor mall and is slated to open in June. We can't wait to welcome them with open mouths.


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New York — Bankruptcy or some other debt restructuring is the likely outcome for RadioShack, Fitch Ratings said.
The credit rating service cited the chain’s “severely strained” liquidity and estimated negative free cash flow of up to $80 million this quarter.
In addition, an ambitious cost-cutting plan laid out yesterday by RadioShack CEO Joe Magnacca, designed to add $400 million a year in earnings, was deemed insufficient by Fitch to forestall a debt restructuring in the near future.
“RadioShack does not have material sources of liquidity beyond its revolver as virtually all of its assets have been pledged to its credit facilities,” the rating service said. “As a result, there continues to be a high likelihood of a bankruptcy filing or other outcome that is detrimental to bondholders.”
RadioShack reported $43.3 million of cash and $19.3 million of availability on its credit facility as of the end of its third quarter on Nov. 1, for total liquidity of $62.6 million. This compares with liquidity of $183 million at the end of the second quarter and $424 million at the end of the first quarter.
The company also reported weak third-quarter results, including a 13.4 percent decline in comp sales, a 16.1 percent drop in net sales and operating revenues, and a net loss of $161.1 million.
Magnacca said his cost-cutting program, to be completed next month, would result in nearly $300 million in annual savings from store operations and regional management ($100 million), marketing ($105 million), professional fees ($41 million), store and other overhead ($28 million), and headquarters ($21 million).
Fitch lauded the effort, which represents a sizable 21 percent of RadioShack’s last-12-months operating expenses of $1.4 billion, and described it as “a substantial operational restructuring over a very short period of time.”
Even still, absent the completion of widespread store closures — a move that has been repeatedly blocked by term lenders — the chain would likely remain in a negative earnings position, Fitch said.
- 2019 TWICE Top 100: Watch List - May 23, 2019
- 2019 TWICE Top 100: Consumer-Direct Sales Dominate The Charts - May 22, 2019
- 2019 TWICE Top 100: Best Buy Keeps The CE Crown, But Barely - May 21, 2019


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Powertrend Bulletin — FREE
There’s an old investment saying that you should buy what you know. If we did that, it surely would limit the number of companies in which we invest. Maybe that wouldn’t be such a bad thing, but perhaps a better strategy would be to buy things you understand. That would open the gates to a number of companies, particularly if you understand the tailwinds that may be driving the business.
A case in point occurred last week when Twitter (TWTR) took the wraps off Periscope, its new live streaming service that looks to do for video what “selfies” did for camera more»


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China’s Fosun Fashion Group has beefed up its luxurious holdings with its second Italian acquisition, snapping up storied footwear specialist Sergio Rossi — and plotting an growth drive in Asia.
Divulging the transaction completely to WWD, Fosun stated it acquired 100% of Sergio Rossi SpA from Absolute Luxury Holding Srl, an independently managed subsidiary of European funding home Investindustrial, including to a portfolio that features French home Lanvin, Austrian hosiery specialist Wolford, Italian males’s put on firm Caruso and American trend model St. John.
Financial phrases weren’t disclosed.
The growth means that Fosun Fashion Group continues to be looking out for acquisitions — and punctiliously establishing its luxurious portfolio. It additionally underscores heightened investor curiosity within the footwear class, with Christian Louboutin, Birkenstock and Dr. Martens all concerned in current offers or preliminary public choices, and Adidas within the strategy of in search of a purchaser for Reebok.
“This acquisition not only completes a more well-rounded strategic brand ecosystem for FFG, but also creates potential synergies between brands through Sergio Rossi’s fully owned and state-of-the-art factory,” Fosun stated in a press release, trumpeting itself as “one of the first movers to create a global luxury fashion group in China.”
It is known FFG beat out an extended checklist of suitors with its dedication to develop the model for the long run, and its formidable muscle in China. In current years, Sergio Rossi chief govt officer Riccardo Sciutto has succeeded in reorganizing the corporate, modernizing its manufacturing plant in Italy’s San Mauro Pascoli, a key footwear district, and giving a exact identification to the product in sync with the late namesake founding father of the model.
In an interview on Wednesday, FFG chairman Joann Cheng stated she spies many potential synergies.
“We can foresee the product development and production of shoe products for Lanvin and St. John by utilizing Sergio Rossi’s state-of-the-art manufacturing plant and the team of over 150 experienced artisans working on prototyping and shoemaking,” she stated. “We can also foresee interesting collaborations between the brands, whether it’s Sergio Rossi x Lanvin, St. John or Wolford, as these four brands are all known for their dedication to the femininity, elegance and confidence of contemporary women, with a strong focus on craftsmanship.”
Cheng famous that Sergio Rossi is the primary vertically built-in luxurious equipment model in FFG’s portfolio, and echoes its penchant for corporations with robust savoir-faire and built-in factories, as is the case for Wolford, Caruso and St. John.
Among growth priorities for Sergio Rossi are:
• enhancing native groups and methods for the Greater China market, simply as FFG did for Lanvin and its different manufacturers;
• reinforcing Sergio Rossi’s digital and omnichannel enterprise, which was initiated in 2018 and nonetheless has “huge room for improvement,” in keeping with Cheng;
• burnishing model consciousness globally with an upgraded advertising spend, and different techniques.
“We believe Sergio Rossi has a solid ground for exponential growth in the coming phase,” Cheng instructed WWD, touting its “beautiful brand name and heritage, its first-class production know-how and facility, and its established product collections and distribution channels.”
At current, Sergio Rossi counts eight straight operated shops in mainland China and 4 in Hong Kong, plus a number of franchised shops within the area.
Over Zoom, Cheng described “huge potential” for the model in Greater China, given its “very strong DNA,” status for magnificence and luxury, and haute craftsmanship. She additionally highlighted that leather-based items are effectively fitted to on-line distribution, and Sergio Rossi has loads of “untapped” potential to increase on this channel.
Wearing a putting Lanvin shirt with billowing sleeves, Cheng defined that FFG has been footwear and leather-based items corporations since 2018, and visited quite a few producers in France and Italy.
She famous there can be no modifications in Sergio Rossi administration.
“The current leadership of the company has demonstrated their strong commitment and ability to develop the brand,” she stated. “They will continue leading the company with the support from FFG, which — besides capital — can also bring vast expertise and resources in the Asian market and digital space, the two major growth pillars for the brand in the next years.”
Cheng touted Sergio Rossi’s wealthy heritage, describing the corporate’s archive of greater than 6,000 sneakers and 13,000-plus digitalized paperwork as “luxuriant material and inspiration for the design of Sergio Rossi’s current products.”
“Going forward, the DNA and positioning of the brand will remain unchanged, which is a core thesis for us to cultivate any brand under FFG,” she defined. “But we will aim to bring more innovation and excitement to it in terms of how the collections are structured on top of its classic lines, how the story is told in a digital atmosphere among today’s consumers, as well as how to play with a localized strategy in different markets.”
She famous newness may come from updates of the model’s traditional traces, new collections, “experiments by collaborating with different creative talents or a different way of storytelling that’s adapted to today’s environment and consumers.”
Investindustrial ran Sergio Rossi since 2015, when it acquired the Italian shoemaker from French luxurious group Kering.
Michael Guan, chairman of Asia at Investindustrial, famous that attributable to its globalization efforts, “sales in Asia, and in particular China, grew significantly to become the key region for Sergio Rossi. We believe FFG, with its strong position in China and Asia, is an ideal new owner to help Sergio Rossi expand in the region.”
Rothschild served as adviser to Investindustrial.
“I strongly believe in this project, which will be developed in continuity,” stated Sciutto, who instructed WWD he’s a co-investor within the automobile Fosun set as much as purchase Sergio Rossi. “While the agreement opens ups a new phase of the company, my staying on is also a sign of this consistency.”
The govt, who joined Sergio Rossi in 2016, highlighted the individuality of it manufacturing plant, which produces round 200,000 pairs of sneakers per yr. Sciutto spearheaded a return to the origins of the corporate, when Sergio Rossi produced for the likes of Azzedine Alaïa, Versace, Moschino, Dolce & Gabbana, Gucci, Yves Saint Laurent and Bottega Veneta, by inking new manufacturing agreements with different manufacturers, reminiscent of Bottega Veneta and Amina Muaddi for spring.
Cheng thanked Investindustrial for its “investment, commitment and leadership over the past five years and we look forward to carrying the legacy of Sergio Rossi forward into this new chapter.”
Sergio Rossi, which closed 2020 with revenues of 60 million euros, operates 64 boutiques, of which 45 are straight owned flagship shops in prime luxurious areas throughout EMEA, Japan and Greater China, and the steadiness franchise areas.
A footwear legend who constructed certainly one of Italy’s most admired luxurious shoe manufacturers and who impressed generations of designers, together with his son Gianvito, Sergio Rossi died final yr at age 84 of COVID-19. Since founding his model in 1951, Rossi developed quite a lot of groundbreaking types, such because the Opanca sandal with its curved sole.
Launched in 2017 and based mostly in Shanghai, Fosun Fashion Group is the style arm of the Chinese multinational conglomerate Fosun International Limited. In 2018, the group entered the posh recreation by buying a majority stake in Lanvin.
Underscoring its experience in Asia, FFG lately shaped a strategic alliance with e-commerce agency Baozun, Activation Group and different business gamers to strengthen its capability to seize China’s fast-growing demand for luxurious manufacturers. As a part of the partnership, Baozun and Activation grew to become minority shareholders in Fosun Fashion Group, and the popular companions for all manufacturers in FFG’s portfolio, in addition to in exploring new enterprise fashions and options for model growth, as reported.
Fosun International is a client conglomerate that has operated in tourism, sports activities, meals, leisure, well being care, prescribed drugs, insurance coverage and different sectors because it was based in 1992. It is current in additional than 20 international locations and manages greater than $117 billion in whole property.
Sergio Rossi Dies at 84
Sergio Rossi Targets Younger Consumers With New Sì Rossi Line
Family, Industry Pay Tribute to Sergio Rossi


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Already available throughout Europe, the Mitsubishi Outlander PHEV is now just arriving in United Kingdom showrooms at a post-credit price tag of £28,249 ($47,000 USD).
Autoblog Green reports the plug-in hybrid SUV without the £5,000 credit would start at £33,249 ($55,000 USD), but with the credit, the starting price is around the same level as its diesel-powered sibling, thus allowing UK consumers to pick the SUV they want without worrying too much about affordability.
As for what they will get out of their Outlander PHEV, the hybrid has a range of 32 miles in all-electric at a limited speed of 75 mph, and can tow over 3,000 lbs.
On sale now, the first SUVs will arrive in May, with the PHEV arriving in the United States in 2015, which will share a facelift with its U.S.-based gasoline-powered twin. No word on how the PHEV will be priced in the U.S.


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The partnership will provide benefits pertaining to convenience and value across almost 35,000 IndianOil fuel stations across the country.
According to the automaker, starting today, Maruti Suzuki Reward Program members can enjoy the ‘convenience benefits’ through this partnership with IOCL. Using the Maruti Suzuki Rewards App, customers can easily search for and navigate to the nearby fuel/CNG stations. This will ensure enhanced accessibility and convenience for customers.
The partnership will be valid across all IndianOil fuel stations in India and will provide a bouquet of services to customers. Going forward, the partnership will seek to add more value-based rewards for customers.
Shashank Srivastava, Senior Executive Officer (Marketing & Sales), Maruti Suzuki India Limited, said, “At Maruti Suzuki, our focus has always been to provide our customers with the utmost convenience. Continuing with the core thought of customer centricity, the partnership with IndianOil will further strengthen the Maruti Suzuki Rewards program and enrich our 7 million plus Maruti Suzuki Rewards customers with higher benefits. With IndianOil’s vast reach of more than 35,000 fuel stations across India, Maruti Suzuki rewards customers will further experience a more integrated re-fuelling experience. It will help build a stronger connection with customers by providing a premium, reliable and benefit-driven post purchase experience.”
Sandeep Makker, Executive Director (Retail Transformation), IndianOil, said, “We are delighted to partner with Maruti Suzuki India Limited for the Maruti Suzuki Rewards program. We, at IndianOil, believe in providing unparalleled customer experiences and strive to consistently enhance our engagement through partnerships. This partnership will give us systematic inroads and help us increase penetration into the passenger car segment and transform the fuelling experiences. By developing proper synergy, both the partners can blend their valuable expertise and resources to create seamless and distinct offerings for their customers.”
Members will also get the latest updates on the CNG fuel pump network of multiple city gas distribution (CGD) companies, the carmaker said.
Despite its size and weight, Ferrari CEO Benedetto Vigna prefers to describe the four-door, four-seat Purosangue, which has a top speed of over 310 kph (190 mph), as a versatile sports car, rather than an SUV.
According to the report, over 3.5 million used cars were sold in India in FY22, breaking the previous year's record, while 40 million or more cars were sold globally at the same time. According to the report, India's used vehicle industry is currently transitioning from an unorganised setup – where transactions occur via roadside garage mechanics, small brokers, and between car owners – to an organised system with more players entering the market.
The automotive sector is one of the largest industries contributing about 7.1% to India’s GDP and generating huge direct and indirect employment. In the Union Budget FY24, the industry has got major boost towards electric vehicle manufacturing, hydrogen fuel adoption and the changing technology mix. However, there were certain misses with regards to the GST reduction.
Satinder Bajwa, senior vice president and Head of Sales and customer care, and Harish Lalchandani, VP, Marketing, Mahindra Automotive, have quit the organisation, three people aware of the matter informed ETAuto on condition of anonymity.


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This article warns academic libraries to "prepare for the digitization"
of online collections. It seems to be typical of the paranoid take on
the future of libraries: that somehow we're going to be marginalized
by technology. On the contrary, I firmly believe that the library
Renaissance is coming!
Check it out, from Gartner Research:
How Facebook Tries to Regulate Postings Made by Two Billion People - Subtitle Berkman Klein Center hosts a day of conversation about reducing harmful speech online and hears from the Facebook executive in charge of platform...
6 hours ago


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Yes, a bright yellow 2015 Z06 has just been spotted on the ‘Ring, with some of its runs featured in this video from Bridge To Gantry. As the video confirms, the new Z06 sounds as awesome as it looks. It also looks ridiculously fast, by the way.
We suspect Chevy engineers are attempting to set an official Nürburgring lap time for the new Z06, just as they did with previous Corvette variants like the C6-based ZR1. Considering Chevy has already confirmed the new Z06 equipped with its available Z07 Performance Package is faster than the ZR1 on most test tracks, it’s almost certain it will be faster here as well.
The best time set by a Corvette at the ‘Ring is 7:19.63, which the ZR1 set back in 2011. Of course, Nissan’s GT-R NISMO set a time of 7:08.679 late last year and Porsche’s 918 Spyder still holds the production car record with a mind-bending time of 6:57.
As mentioned, the new Z06 goes on sale early next year. It’s powered by a supercharged 6.2-liter V-8 good for 650 horsepower and 650 pound-feet of torque. If you’ve got some time on your hand, Chevy even has a configurator up for the car that allows you to play around with some of the options. Hopefully we’ll be able to bring you some driving impressions of the car soon.


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Washington/Beijing: US President Donald Trump on Friday said he was in no hurry to sign a trade deal with China as Washington imposed a new set of tariffs on Chinese goods and negotiators entered a second day of last-ditch talks to try to salvage an agreement.
The United States early on Friday increased its tariffs on $200 billion in Chinese goods to 25 per cent from 10 per cent, rattling financial markets already worried the 10-month trade war between the world's two largest economies could spiral out of control.
The move, which is expected to lead China to retaliate, went into effect just hours after USTR Robert Lighthizer, US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He ended a first day of talks in Washington without a deal.
They resumed negotiations on Friday morning.
In a series of morning tweets, Trump defended the tariff hike and said he was in “absolutely no rush” to finalise a deal, adding that the US economy would gain more from the levies than any agreement....


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NZ sees sustained rise of tourism sector
New Zealand continued to see extended high season inMay, tourism authorities said onWednesday. The country registered a steady rise in tourist arrivals with year-todate international visitor growth of 10.6 percent compared with the previous 12 months. Authorities reported that Tourism New Zealand’s prioritized top six markets showed holiday growth of between 9.1 percent from Australia to 31.4 percent from China. Tourism New Zealand’s Chief Executive Kevin Bowler said he sees the figures as a confirmation of a successful autumn tourism period.