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For those who have been keeping up to date with Sparklite, you’ll know how great this one looks. Well, the wait is nearly over as it will be coming to Nintendo Switch on November 14th. Here’s the rundown:
Having built up an impressive amount of momentum so far this year with highlight reveals across the likes of Gamescom and PAX, Merge Games are delighted to announce that their whimsical top-down action adventure Sparklite will release via PC, Nintendo Switch, Xbox One and PlayStation 4 on November 14th! Ahead of the release, Merge Games are also excited to unveil the brand-new key art for the game (which you see above and can find in the press kit) which gives another insight into the world of Sparklite ahead of November’s release!
With a recent showing in Nintendo’s Indie World Showcase alongside unveilings across PAX events such as ID@Xbox, ‘The Mix Seattle’, ‘Kinda Funny’ Showcase,as well as the ‘Monsters of Indie’ Superstar Dev Panel, Sparklite continues to make an impact as one of 2019’s most interesting and exciting Indie games to watch out for. Fusing together an arsenal of gadgets, guns and gear, Sparklite will have you exploring a diverse, procedurally-generated world to take down the titans of the mining industry and harness the power of Sparklite!
From solving puzzles to defeating a range of different bosses and enemies, Sparklite combines elements of classic adventure titles such as The Legend of Zelda alongside a unique blend of approachable roguelike elements. Get ready to immerse yourself in an ever changing world as you take Ada on a journey across an assortment of different biomes and save Geodia!
Ahead of release, Merge are running a Steam Wishlist promotion to receive exclusive content ahead of launch. They recently hit a new Wishlist mark of 15,000where members of the community will now be receiving a free demo ahead of release! Each new mark achieved unlocks a special treat for the community and a final, mystery gift is unlocked at 55,000. Check out their Steam page for more information.
You can keep on top of all things Sparklite on the official Merge Games discord channel where there will be regular updates leading up to the release date.
- Stunning visuals – Intricate pixel art aesthetic inspired by retro classics
- Original soundtrack – GameCube inspired soundtrack by composer Dale North (Wizard of Legend)
- Explore the world of Sparklite – Five beautiful, procedurally generated biomes
- Invent your arsenal – Invent gadgets to solve puzzles and defeat enemies
- Battle bosses – Take on the Baron Mining Corp and its formidable gremlin Titans
- Meet the locals – Befriend the people of Geodia and help build The Refuge
Source: Evolve PR


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Leading cryptocurrency mining equipment manufacturer Bitmain is offering to give its customers a value rebate for amounts previously paid upfront for miners. This is an effort to cushion the customers following last month’s crypto market tumble that saw Bitcoin lose more than half of its market value in a matter of hours.
In a post on a Chinese social media website, the Chinese mining giant stated that any customer who pre-ordered the S17+ and the T17+ bitcoin mining ASICs to be delivered between mid-February and end of April will receive rebates for lost value in the form of coupons. According to the announcement, customers will only be able to cash out on subsequent purchases on the Bitcoin order page and cannot cash out the coupons.
The coupon value ranges from $17 to as high as $270. Bitmain revised the prices of its miners earlier this year as the economy tanked thanks to the global Coronavirus pandemic which caused a sharp market correction. Machines such as the AntMiner S17+ which was pre-sold on the Bitmain website for about $1,567 is now retailing as low as $1,320, a reduction of more than 15% in a couple of months.
Customers can still get the miner at a cheaper price through Bitmain resellers. These machines have been shipping since February through this month in preparation for new sales for the recently announced and more powerful AntMiner S19 models which are expected to start shipping in May.
Bitcoin miners are currently readying for the next bitcoin halving due in under 30 days, which means that their mining rewards will be slashed in half. This past week, bitcoin’s offshoots Bitcoin Cash and Bitcoin SV underwent their mining rewards halvings and have since lost their miners who may have switched their machines towards mining for the bitcoin network before it halves as well.
Previously, bitcoin halvings have been proceeded by a considerable price gain, however, market sentiment currently does not support this idea and several are weary that this upcoming event may be a little different than the previous two halvings.
To prepare for the bitcoin halving, Bitmain released more powerful machines – the S19 and S19 Pro – which are more powerful and more energy-efficient, two features that will ensure miners remain profitable in the post halving.
If you found this article interesting, here you can find more Blockchain and cryptocurrency news

domain: news


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FIFA to investigate alleged Platini smear
ZURICH, Aug 17 (Reuters) - FIFA confirmed on Monday that they will investigate the alleged distribution from their headquarters of an anonymous heavily critical 'dossier' on UEFA president Michel Platini following a complaint from European soccer's governing body.
"FIFA Secretary General Jerome Valcke has received a letter from UEFA regarding the said subject," said FIFA in a statement emailed to Reuters.
"In his answer to UEFA, the FIFA Secretary General has confirmed that FIFA is investigating the matter." (Reporting by Simon Evans; editing by Sudipto Ganguly)
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Starbucks, the coffee giant that so many love to disparage (though they’re loathe to fess up to their guilty pleasure derived from imbibing the occasional Mocha Frappucchino), has been variously pegged as a category killer, global capitalist thug, and sprawl beneficiary over the last decade. What are the next condemnations to come, you might ask? Apparently we can add “congestion generator” and “air polluter” to the list:
The two men represent what one researcher says is evidence that the national craving for gourmet coffee may be adding mileage to the morning rush hour. And the numbers might be significant enough to complicate efforts to reduce traffic congestion, save fuel and reduce air pollution. . . . . What [travel behavior analyst Nancy] McGuckin and two colleagues found in comparing the 1995 and 2001 [National Household Travel] surveys, the two most recent ones, was that 1.6 million new Americans tacked personal errands onto their commutes. Studies have long shown that errands are an integral part of the daily routine, especially on the way home from work, when arrival times are more flexible. Women continue to outpace men in these trips, shouldering most of the early-evening family tasks after leaving the office, such as grocery shopping and picking up children. But the researchers also discovered that for the first time most of the growth in errands occurred during the morning commute — and far more men had joined in. A closer look showed that many of those men had destinations more enjoyable than the dry cleaner. While younger men were sharing in more household-related errands such as ferrying children, older men were devoting many of their morning trips to coffee and such portable breakfast food as bagels.
The full article is here.


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India’s 5% damaged parboiled selection rose to $383-$389 per tonne from final week’s $382-$387, with exporters struggling to fulfil orders as a result of restricted availability of containers and staff on the nation’s greatest rice dealing with port, Kakinada, within the state of Andhra Pradesh.
“Demand is large for Indian rice as a result of decrease costs, however exports are getting affected by floods and the coronavirus outbreak in Andhra Pradesh,” stated Nitin Gupta, vice chairman for Olam India’s rice enterprise.
With 2.84 million whole COVID-19 circumstances, India is the worst-hit nation in Asia and third solely behind the US and Brazil when it comes to the variety of circumstances.
Floods in neighbouring Bangladesh broken rice crops price 363.34 billion taka ($4.29 billion) on round 100,000 hectares, agriculture minister Abdur Razzaque stated.
Extra on Covid-19
Bangladesh, the world’s third greatest rice producer, typically depends on imports to deal with shortages brought on by floods and droughts.
In the meantime, Vietnam’s 5% damaged rice charges had been unchanged at $480-$490 a tonne on Thursday, its highest since late 2011.
“Provides are skinny as native merchants have elevated their purchases not too long ago and the summer-autumn harvest has ended,” a dealer based mostly in Ho Chi Minh metropolis stated.
The return of the novel coronavirus to Vietnam late final month has additionally prompted the hoarding of rice domestically, the dealer famous.
Merchants anticipate costs to remain elevated for the subsequent few months till a brand new harvest in October.
Provide issues additionally pushed Thailand’s benchmark 5% damaged rice costs as much as $480-500, its highest since July 2, from $465-$500 final week,
“It looks as if the rice harvest within the provinces is not going to be so nice,” a Bangkok-based dealer stated.
Demand for Thai rice has remained flat this week as costs had been excessive, merchants stated.


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Travel + Leisure
reported improved earnings as key markets such as Las Vegas and Hawaii had better demand.
Travel + Leisure (ticker: TNL) earned an adjusted 39 cents a share in the first quarter, versus a loss of 98 cents a year earlier as revenue climbed by 13% to $628 million.
The company, along with its peers, was hit hard during the pandemic last year as leisure travel plummeted. But the first quarter, especially March, showed signs of improvement. “Our operating performance strengthened significantly in March, with a robust sequential improvement in our key metrics,” CEO
said in a press release Wednesday.
The stock was at $65.69, up fractionally in early trading Wednesday. The stock has returned about 47% in 2021, dividends included.
Travel + Leisure changed its name from Wyndham Destinations earlier this year after it acquired the travel company


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Press release: Decade’s biggest number of bankruptcies in 2009
The new panel research on bankruptcies in Estonia compiled by Krediidiinfo shows that the number of bankruptcies in 2009 became the highest in a decade. According to Krediidiinfo’s analysts, the growth trend will also continue this year, but at a much slower pace.
Last year, 1055 companies in Estonia were declared insolvent, which is the highest level of the past ten years – the number of bankruptcies went up by 632 companies i.e. 2.5 times compared to 2008. Every 133rd company went bankrupt, i.e. 0.75 per cent of all Estonian companies.
It is remarkable that the share of bankruptcies among companies with over 10 million in sales revenue went up significantly in 2009 – every third bankrupt company.
A typical company that goes bankrupt is one with sales revenue up to 10 million kroons and without equity capital working at a big loss. Almost half of the companies that went bankrupt in 2009 had tax arrears for more than a year before declaring insolvency. Krediidiinfo had rated the companies’ activity weak (C, B, BB).
Surprisingly, the regions with the highest level of bankruptcy in 2009 were Järva County and the island of Hiiumaa; followed by West- and East-Viru County, which have been the regions with the highest level of bankruptcies for years. The lowest level of bankruptcy is in Põlva County, where there were just seven cases of bankruptcy. The most bankruptcy-prone field of activity is construction, where every 55th company went bankrupt.
The sales revenue of the companies that went bankrupt prior to bankruptcy made up 3.5 billion kroons and the net loss made up 1.0 billion kroons. In total, 4073 people worked in these companies. In 2008, the bankrupt companies’ biggest creditors were banks, but in 2009, the main damaged parties were cooperation partners and suppliers.
Compared to other European countries, Estonia is in 8th place in scarcity of bankruptcies per 10 000 companies among 25 European countries. At the same time, the number of bankruptcies has gone up the quickest in Estonia over the past year – by 150%.


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HOW TO AVOID COVID-19 SMALL BUSINESS SCAMS
The COVID-19 pandemic has become a haven for fraudsters aiming to scam people out of their money. Small business owners may not think they'll be the next victims, but they've become prime targets. Read on to learn about the COVID-19 scams aimed at small businesses.
Why scammers target small businesses
Fraudsters employ all sorts of tactics, including email phishing and fake donation sites, to defraud business owners. And there's a reason these thieves often target small business owners: They know that, unlike large corporations, most small businesses don't have the cash to hire IT staff or employ expensive cybersecurity solutions to safeguard their computer systems.
Some small businesses also lack the sophistication to spot a fake email or a dubious link, and all it takes is one click on the wrong email to put a business's sensitive data in the hands of hackers.
"They say in times of trouble, people pull together and treat each other better," Andrea McGrew, chief compliance and legal officer at USA Financial, told Business News Daily. "That has not been the case. There are so many scams out there, it's really frightening."
Key takeaway: Many small businesses don't have the budget or the tech know-how to keep fraudsters at bay. As a result, they're prime targets for cybercriminals.
New COVID-19 scams targeting small businesses
Scams have been growing for years, but amid the pandemic, the amount of fraud perpetrated on small businesses is surging. The schemes run the gamut, from fake charities to website spoofing, but all are designed to defraud small businesses or their employees. Here are four popular scams to watch out for.
1. Unemployment scam
With the pandemic shutting down businesses across America, the federal government stepped in to help with added unemployment benefits. That enhancement was too much for the scammers to ignore, and they are now filing fake unemployment insurance claims.
In this scheme, the scammer gets ahold of names, Social Security numbers and other personal information and then files claims for benefits. The person being defrauded only learns of this when they receive a letter from the unemployment office in their state or the employer is notified of the claim.
"We've seen a massive issue of unemployment insurance fraud," McGrew said. "These fraudsters are obtaining information in order to file unemployment."
2. SBA spoofing
In an effort to keep small businesses afloat during the pandemic, the U.S. Small Business Administration (SBA) announced COVID-19 relief loans. To apply for these loans, business owners are directed to the SBA website.
Scammers hoping to capitalize on this new aid are tricking borrowers by sending emails purporting to be from the SBA. The emails include a link to a spoofed SBA website, which is used to steal the credentials of unsuspecting borrowers. The scam has gotten so bad that the Cybersecurity and Infrastructure Security Agency recently issued an alert warning business owners to be on the lookout for these types of emails.
3. SBA loan scams
Filling out an application for COVID-19 relief aid can be time-consuming, but it's not rocket science, nor do you need to pay anything to apply for a loan. Unfortunately, some small business owners don't realize that and, as a result, are prey for scammers. In one SBA loan scam, fraudsters claim that business owners must pay an upfront fee if they want their SBA loan approved quickly. The unscrupulous callers may even offer a bridge loan with a high interest rate while the business owner awaits federal aid.
4. Scam donation sites
Everyone wants to do their part to help others survive the pandemic, including small business owners. Scammers prey on that generosity by creating fake charities. They reach out to business owners and get them to donate to what they think is a pandemic-related cause, but really all the business owner is doing is lining the scammers' pockets.
Key takeaway: Scammers prey on small business owners' need to access capital, as well as their desire to give back.
How to avoid COVID-19 business scams
Scammers aren't going to stop as long as they have victims. To reduce your risk of being the next one, follow these five tips.
1. Check the email source.
Phishing emails have gotten very sophisticated, but there are still telltale signs that something is amiss.
"Look at the email, and see where it came from," said Sandra Guile, a spokeswoman for the Better Business Bureau (BBB). It may be riddled with spelling or grammatical errors, or it may not be personalized to you. "If it doesn't seem right, go look online," she said.
Here's a good rule of thumb: Never click any links in an email or text if you aren't 100% sure the source is real.
2. Maintain good records.
Spotting fraudsters looking to inflate an invoice can easily be prevented by maintaining good business records – and that includes orders and purchases. When you keep detailed records, if a so-called vendor calls to demand payment, you can quickly see if you actually placed an order.
The same practices should apply to payment procedures. You should know who is paying the bills and when. The BBB recommends creating a multiperson approval process for any payments that are above a predetermined threshold.
3. Avoid untraceable payment methods.
A telltale sign that something is amiss is when the vendor or charity requests payments in untraceable methods, such as cash, a gift card, a prepaid debt card, cryptocurrency or a wire transfer. If they won't accept a check or credit card, that's a big red flag.
4. Secure your computer systems and devices.
Cybersecurity shouldn't be an afterthought, even if money is tight during the pandemic. It's important to make sure that your servers, PCs and mobile devices have security software installed and that your business uses a firewall. It's also incumbent on you to keep the software updated, to ensure the systems are fully protected. 5. Train your staff to spot scams.
Because cybercriminals often infiltrate companies via phishing emails or malicious texts, it's important for small business owners to train their staff to be on the lookout for fraud. If you hear about a particular scam, alert your employees. The more communications and training you provide on security, the better protected your business will be.
Key takeaway: There are several steps small businesses can take to lower their risk of becoming victims of business scams. Checking the source of emails, securing computers and devices, and training staff can go a long way in reducing your likelihood of being scammed.
Common types of business scams and fraud
Scams targeting small businesses were around before the pandemic and will continue once the virus is contained. Cybercriminals are sophisticated, employing new tactics every day, but they still like to go after the low-hanging fruit, and small businesses are just that. As a result, there are several common scams small business owners should be on the lookout for during the pandemic and beyond. Here are four types of business scams and fraud:
Phishing is one popular tactic used to steal sensitive information from small businesses. It occurs when you receive an email or text that appears to be legitimate, but when you click on it, you inadvertently download malware that captures your logins and passwords or takes you to a website that looks like your bank's but isn't.
One of the reasons phishing scams are so effective is that the hackers pretend their email or text is from a familiar person, such as an employee or a customer. The criminals go to great lengths to make the email or text look real, embedding corporate logos and using email addresses that may be recognizable to the enterprise. 2. Business email compromises
Another variant of the phishing scam, called a business email compromise, occurs when scammers target the employees who pay the bills at the organization.
The scammer pretends to be a vendor asking the accountant or chief financial officer to wire money, provide personal information or purchase gift cards. But instead of the money going to a vendor, it ends up in the bank account of the fraudster. According to the Federal Bureau of Investigation, a business email compromise scam is one of the most financially damaging online crimes.
3. Charity scams
Businesses like to give back to the communities they serve and, as such, tend to donate money, products or services to local and national charities. Scammers know this and will prey on their generosity to steal money from them. Once a charitable contribution is made, the scammer disappears with the cash in hand.
4. Office supplies schemes
Small business owners wear multiple hats, which can get overwhelming. Scammers banking on that will call a business owner, claiming to be representatives of a vendor or company the business has dealings with. The scammers try to sell the small business owners merchandise that the business uses, at a much cheaper price than the business is currently paying. The small business owners think they are getting a deal, but what's really happening is they are getting scammed out of money. The payment is gone, and the business doesn't have any office supplies to show for it.
In another variant of the office supply scam, fraudsters send businesses bills for products and services they never requested. According to the BBB, the most common invoice scams center on office supplies, website hosting services and directory listings. Because the cost is kept small, it never raises a red flag with the business owner.
Key takeaway: Small businesses have long been targets of scammers aiming to steal logins, passwords and money. These scammers employ all sorts of tactics, including phishing, sending phony invoices and posing as charities or vendors.
What to do if your business has been scammed
When fraud happens to you, it's distressing, and it can be difficult to figure out what to do. The good news is that federal and local authorities can help you recoup your losses and pursue the fraudster.
The Federal Trade Commission (FTC) is the main government agency in charge of collecting and pursuing scam reports. You can file a report online or by calling 1-877-382-4357. Before you contact the FTC, gather all of the emails, receipts and phone numbers so you can file a complete report.
You can also file a complaint with the consumer protection office in your state and reach out to the local police if you lost money or possessions.
"You just have to be hypervigilant," McGrew said. "Most people are good and want to believe the other person has good intentions, but that's not always the case. You have to be really cautious in who you let into your life at this time." SOURCE: https://www.businessnewsdaily.com/15796-avoid-covid-19-business-scams.html


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Boulevard Brewing Expands Distribution to Michigan & Kentucky
(Kansas City,MO) – When Boulevard added new markets to their distribution territory in 2015, the Kansas City brewer suggested more were soon to come. Today the company fulfilled that promise, announcing the appointments of Imperial Beverage in Michigan and Beer House Distributors in Kentucky. In the coming weeks, consumers in those states will be able to enjoy Boulevard favorites such as Tank 7 Farmhouse Ale, The Calling IPA, Ginger Lemon Radler and Heavy Lifting IPA.
These moves follow on the heels of recent launches in Rhode Island with Horizon Beer Distributors, and in upstate New York with AL George, Certo Brothers, DeCrescente, High Peaks Distributing, Lake Beverage, Norwich Beverage Corp., Oswego Beverage Co., Plattsburgh Distributing, T.J. Sheehan and Tri-Valley Beverage. In addition, with the appointments of Allstate Beverage Co. in Montgomery and Gulf Distributing Co. in Mobile, Boulevard beers are now available throughout the entire state of Alabama.
“With more fermentation capacity at the brewery, we have the ability to enter markets that have long been on our wish list,” said Bobby Dykstra, vice president of sales. “We’re pleased to bring our family of beers to craft lovers in these areas.”
As launch events in Michigan and Kentucky are finalized in the weeks to come, Boulevard will publish details on their website and social media outlets.
About Boulevard Brewing Company
Boulevard Brewing Company has grown to become one of the largest specialty brewers in the Midwest, dedicated to the craft of producing fresh, flavorful beers using traditional ingredients and the best of both old and new brewing techniques. In 2014, Boulevard became part of the world-renowned Duvel Moortgat family of breweries. For more information, visitwww.boulevard.com, boulevard.com/facebook, or follow us on Twitter at boulevard.com/twitter.


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Ubisoft has announced the Arctic Strike map pack for Ghost Recon: Future Soldier has been delayed. Originally set for a July 3 release, the firm said the delay will allow for extra polish. The pack will now release later in July, with an “exact date,” coming “soon.” Upon release, the DLC will run you 800 MS Points/$9.99/£7.99. Thanks, CVG.
Destiny 2's "followable" campaign tells the story of the Red War, but other tales are layered around it
Destiny 2 is going to have a story you’ll actually notice happening around you – and other narratives to explore, too.
SNES Classic: "significantly more" stock than NES Mini but you might only have till the end of the year to get one
SNES Classic won’t be as thin on the ground as Nintendo’s last retro hardware, but you’ll need to move fast regardless.
Brace yourselves: the Steam Summer Sale has started.
Ubisoft has announced that after a slight delay, the Arctic Strike Map Pack for Ghost Recon: Future Soldier will be available on July 17 for PS3 and Xbox 360. The pack contains three new multiplayer maps, a new mode called Stockade, a Guerilla co-op map, six new weapons, a new level cap and achievements. It […]
Ubisoft has announced the first map pack for Ghost Recon: Future Solider will be released on July 3 for 800 MS Points/$9.99. Titled Arctic Strike, the pack contains maps in, obviously the Arctic, but in Moscow as well. It comes with a new multiplayer mode, six new weapons, and a Guerrilla Mode co-op map. Future […]
Ghost Recon: Future Solider DLC Khyber Strike is out today on Xbox 360 for 800 Microsoft points and on PS3 in the US. It will release tomorrow, October 10 fin the UK via PSN for £7.99. Check out the launch trailer below.
Khyber Strike, the third DLC pack for Ghost Recon: Future Soldier, has been detailed by Ubisoft.
Ghost Recon Future Soldier
Coming soon to XBL Marketplace Batgirl for Injustice: Gods Among Us, Most Wanted Complete DLC Bundle
The DLC schedule for the Xbox Live Marketplace has been announced a bit early this week, because apparently Microsoft is busy with other things today. Lord knows what that could be. Anyway, whatever it is they have planned, starting today, you can pick up Batgirl for Injustice: Gods Among Us, the Need for Speed: Most […]
Xbox Live Black Friday bargains include 50% sale on Mass Effect 3, Ghost Recon: Future Soldier and Batman: Arkham City DLC
Microsoft are getting into the Black Friday spirit with a 50% sale on certain Xbox Live content. Plenty of DLC is up for grabs at a cheaper price, as announced by Major Nelson on his blog.


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Chinese Lottery Gets You A brand new Vehicle Possibly
In a bid to lessen air pollution and smog surrounding the heavily polluted city that is chinese of (try stating that three times fast), a new type of lottery is being introduced. But winning this lottery doesn’t produce financial independence as well as an extravagant lifestyle; rather it entitles you to buy a vehicle that is new.
She actually is Got a Ticket to Ride
Licenses to possess a car into the town and enabling you to drive will be issued via a lottery, while the officials that are local had to take drastic measures to reduce the smog and carbon footprint regarding the town.
Shijiazhuang, the capital associated with the steel-producing Hebei province which surrounds Beijing, has get to be the latest locality from the largest auto market worldwide to introduce this type of measure. Other cities that are chinese have imposed a restriction on vehicle acquisitions include Beijing, Guangzhou, Shanghai and Guiyang.
How many brand new cars in Shijiazhuang is going to be limited to 100,000 for the 12 months, and households within the town will be limited to owning ‘just’ two cars each, according to the government website that is local.
The authorities carry on to state that the true amount of brand new automobiles allowed will be further paid off to 90,000 in 2015, and those able to buy automobiles will be determined using a lottery structure.
Efforts to Lower Emissions
This move comes included new car reviews in China’s vow to improve th Continuar leyendo «Chinese Lottery Gets You A brand new Vehicle Possibly»


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Never Miss a Beat: Get a snapshot of the issues affecting the IT industry straight to your inbox.
Foxconn Factory Riot Blamed On iPhone 5 Rush
Workers' advocates say Apple's shiny new gadget is being produced in unsafe conditions, sparking tensions between offshore assembly crews and guards.
September 25, 2012
3 Min Read
Apple iPhone 5 Teardown: Visual Tour
Apple iPhone 5 Teardown: Visual Tour (click image for larger view and for slideshow)
A labor group said Apple's rush to get the iPhone 5 to market is to blame for a melee between workers and security guards at a Chinese factory operated by Foxconn, an offshore outsourcer that builds gadgets on behalf of the U.S. tech giant.
"Whenever there are new products launched by Apple, consumers are thrilled," said Hong Kong-based Students & Scholars Against Corporate Misbehavior (SACOM), in a statement. "At the same time, workers are queuing up for the company bus and lining up to swipe their staff card at Foxconn, but without similar excitement."
Violence between plant workers and guards erupted Monday, forcing Foxconn to shutter the facility. Numerous injuries, but no fatalities, were reported. The company reopened the plant Tuesday, but has not commented on the cause of the brawl, nor has it confirmed whether the iPhone 5 is made at the facility, which is located in Taiyuan, about 320 miles Southwest of Beijing.
Another group, China Labor Watch, said the iPhone 5 is manufactured at Taiyuan, as well as at other Foxconn facilities.
SACOM, meanwhile, said working conditions at Foxconn have not improved, despite a pledge by Apple CEO Tim Cook to work with the contractor to ensure it is meeting fair labor standards. "When the peak season comes, they are tied to the production lines with just 1 day off in 13 working days, or no rest day at all in a month," said SACOM.
[ Don't miss an exclusive live chat with Zach Nelson, the CEO of NetSuite, one of the pioneers of the software-as-a-service (SaaS) movement. Learn more: Next Valley View: NetSuite, CitiGroup, And More. ]
SACOM said it based its report on interviews with current and former Foxconn workers. The group claimed that workers said they were forced to remain at their posts until production targets were met, even if it meant working longer than scheduled, without overtime pay.
It also reported other problems: "Foxconn and Apple have promised to offer two daily ergonomic breaks for workers, but SACOM found that most of the interviewees have not enjoyed the break at all," the group said. It also said workers on the assembly line lacks adequate protection from the noxious chemicals they work with. An Apple representative did not return a call seeking comment.
Apple on Monday said more than 5 million iPhone 5s were sold over the weekend, but analysts were expecting sales of between 8 million and 10 million units.
They blamed the shortfall on the fact that Apple did not deliver enough phones to retailers to meet demand. As of early Tuesday, websites for stores like Best Buy showed that the iPhone 5 was sold out across the country. Unlocked versions, meanwhile, were selling for $1,000 or more on eBay.
The iPhone 5 is available in white and silver, or black and slate. The contract price starts at $199 for the 16-GB model, $299 for 32 GB, and $399 for the 64-GB model. It's officially supported on the AT&T, Sprint, and Verizon Wireless networks.
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MEP wants calorie labels on alcoholic drinks
Labour’s European spokesperson for health has called for alcoholic drinks to feature calorie labels.
A new EU law comes into force next year forcing all food packaging to contain nutritional information, and East Midlands MEP Glenis Willmott wants it to be extended to alcoholic drinks.
She said: “The fact a medium glass of white wine contains roughly the same number of calories as a chocolate bar might make people think twice before having a second glass.
“When consumers buy orange juice they have all the facts and figures about the ingredients and nutritional values, but for alcoholic beverages there is no information at all, unless retailers take voluntary measures.
“Consumers expect and deserve to be informed about what they are buying and I don't see any reason why alcohol should be treated differently.”


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Choice at the Pump
Scott Zaremba, owner of Zarco 66 convenience stores, didn’t just open the first E15 retail pump in the nation. Not long after offering 15 percent ethanol at the first station in Lawrence, Kan., he expanded to six more locations—the only seven E15 pumps in Kansas to date and the highest number of E15 pumps owned by one company.
Zaremba is the second generation in his family to work in the transportation energy business, he tells Ethanol Producer Magazine. In his lifetime he’s witnessed the 1973 oil embargo, the 1991 Gulf War and crude oil price increases. Although it didn’t ultimately work out, his family considered purchasing an ethanol plant in the 1980s. He recognizes that ethanol is cleaner, renewable and can be produced locally, reducing the need for foreign oil. He first started blending ethanol and biodiesel back in 2007. “It just makes sense to me,” he says, adding that he doesn’t think it’s right to utilize U.S. military forces to protect U.S. oil interests overseas. “Whatever it takes for us to be energy independent is what we need to do,” he says.
The fact that ethanol is a renewable fuel is one of its key selling points for Zaremba. This year’s drought and the resulting higher corn prices represent a temporary situation that will eventually resolve itself with adequate moisture, if not with the next crop, the crop after that, he says. Still, current economic conditions have had an impact on his business. On Oct. 1, the Garnet, Kan., ethanol plant Zaremba was sourcing ethanol from idled temporarily, meaning he’s had to travel further to get ethanol. “From a retailer perspective, it’s a little more difficult for me now, because there’s not the cost advantage that there was for me before,” he says, adding that the situation has simply required flexibility. “We’re still within a 100 or so miles within our locations.”
When Zarco 66 stations first started offering E15, it was priced less than E10, a factor that helped the fuel quickly account for 20 percent of total sales. In early December, when EPM talked to Zaremba, the two fuels were priced virtually the same. Value can instead be seen in the fact that E10 is an 87 octane product while E15 is 90 octane. “You’re getting almost a premium product, for the same as unleaded,” he says. “As we move forward, the customers are seeing that.”
Although the fuel has cleared the necessary federal hurdles for commercial sale for use in 2001 and newer vehicles, it’s a different story in each individual state, says Robert White, director of market development for the Renewable Fuels Association. Kansas, Iowa and Nebraska were the first states to officially announce E15 was available to consumers. The fuel is also available at one station in South Dakota and although Illinois doesn’t yet have any E15 pumps, everything is in place and there are several retailers going through the process to offer it. “What we’ve done is try to get the low-hanging fruit, which we could consider these five,” he tells EPM. “Now we are going out and looking at the other states.”
Depending on the rules and regulation of each state, it can be a difficult task. In some cases, it will require legislative action at the state level. One example is Missouri, a state with an E10 mandate and an agriculture department that is generally friendly to ethanol, White said. But, because the law specifically mentions E10, it will require a change to allow the sale of E15. “It was probably something we did to ourselves, not thinking that level would ultimately be raised,” he says.
There’s a lot of variability in the rules and regulations from state-to-state, agrees Mike O’Brien, vice president of market development for Growth Energy. The organization is actively working to recruit retailers to introduce E15 in high-volume markets in 2013. The plan of attack is to first find interested retailers and then assist them with the needed federal registration to sell E15, followed by lobbying the state to allow the sale of E15. The approach should help the states understand the commercial need for E15 as well as the practical needs of retailers who will sell the fuel. “Like all new products, most traction is gained with innovative people willing to introduce new ideas and technology,” he says. “The challenge is with finding those people then helping them with getting the new product launched.”
A two-headed approach is definitely needed, White says. Getting state-level approvals is important, yes, but those efforts will be wasted if retailers aren’t convinced E15 is a good product to offer consumers. Unfortunately, E15’s critics have been very successful in spreading misinformation about the fuel, so that’s a constant battle. One way the group is reaching out to retailers is through the Blend Your Own program, a joint effort of RFA and the American Coalition for Ethanol.
Reid Vapor Pressure is another challenging matter facing the fuel blend. “Most believe that’s going to be an issue that’s not going to go away anytime soon,” White says. The U.S. EPA allows E10 to exceed the 9.0 pounds per-square-inch RVP requirement by 1 pound from June 1 to Sept. 15 but did not give E15 the same waiver. In order to offer E15 in the summer months, low-volatility blendstock can be pulled from markets that require reformulated gasoline. The catch, White says, is the cost of transporting reformulated gas into new markets, which adds to the price of the fuel.
RFA’s position on RVP is that E10 and E15 should be treated the same. Both fuels should have the RVP waiver or neither fuel should, White says. If the E10 waiver is removed, refiners will continue to blend ethanol due to the renewable fuel standard, possibly even making E15 more attractive as a fuel. Extending the waiver to both fuels would work too. “We just need you to go one way or another,” he says about EPA’s decision on the matter. In the meantime, retailers really only have three options, the first of which is to blend with reformulated gasoline in the summer months. They could also stop offering E15 during the summer months or simply sell it only to flex-fuel vehicle owners. “The options for summer months are limited and that’s really too bad,” he says.
It’s true RVP is a challenge, O’Brien says. However, not all markets are subject to RVP seasonality. In fact, Growth Energy sees areas requiring reformulated gas as ideal starting points for E15. Reformulated gasoline is required in cities with high smog levels, such as in St. Louis, and Fort Worth—in other words, large population centers. About 30 percent of the gas sold in the U.S. is reformulated and is currently required in parts of 17 states, according to the EPA.
Minimum Purchase Rule
One of the hiccups in final federal approval for commercial sale of E15 was over pumps with a single hose dispensing multiple fuels. The EPA was concerned, White says, that a consumer purchasing E10 would get a higher percentage of ethanol due to the residual fuel left over in the hose. A lot of noise was made by the American Motorcycle Association as well as other small engine groups representing lawnmowers, chainsaws and more. RFA argued that in order for a consumer to get a higher than desired blend, a driver seeking E10 would have to fill at a single hose pump immediately after a customer that purchased E15. In addition, the E10 consumer would have to purchase only one gallon of fuel. “The odds of this happing are similar to someone winning the massive Powerball,” White said, adding that not all gas pumps have single hose configurations. “But EPA was not going to budge.”
So, the 4-gallon minimum purchase rule was added to the RFA’s E15 retailer handbook. Basically any retailer selling E10 and E15 from a single hose was required to add an additional sticker telling consumers that if a minimum transaction wasn’t adhered to it may violate federal law. On the one hand, the agreement allowed the EPA to move forward with the first misfueling mitigation plans in June—opening the way for the commercial sale of E15. But it wasn’t a perfect fix. Next the AMA started complaining that it would soon become difficult for consumers with small engines to purchase E10. “Which is again, nearly ludicrous, because every station would have to sell E15,” he says. Another question White has is, why would consumers with small engines have to have access to E10 at every station? Diesel is an example of a fuel that consumers aren’t able to purchase at every fueling station.
In the meantime, retailers who have been ready and willing to sell E15 haven’t able to because the EPA doesn’t feel this issue has been fully resolved, White says. That explains why there were several announcements of new E15 stations in the beginning, followed by silence in late fall and early winter. As of early January a compromise was being worked out. If approved, retailers that sell E15 from the same hose as E10 and/or straight gas, must do two things. First, each station must offer consumers at least one fueling position for which E15 is not an option. “This would allow anyone to purchase whatever volume they would like without fear the blend would be above 10 percent ethanol and squelch the concerns from the anti-E15 community,” White says. In addition, the dispensers must be labeled, alerting consumers to the non-E15 fueling option.
Slowly But Surely
E15 will be successful for the same reason E10 was successful, White says. He’s confident that consumers, when given a choice, will purchase the fuel for its lower price and higher octane. But it’s going to take time to get the fuel in pumps across the U.S. so drivers can take advantage of it. “It took essentially 30 years to get E10 in 95 percent of the fuel sold in our country,” he says. “To think E15 is going to have overnight success is a little short sighted. It will be successful, but it will take some time. Progress is happening but it is going to be slow.”
Todd Sneller, administrator of the Nebraska Ethanol Board, agrees. The state has the second highest ethanol production capacity in the U.S. and was the third in line to officially offer E15 to consumers. There’s still more work to do to bring additional retail locations on board, however. “At this point, it’s a novelty item,” he says. “There’s literally one location [in Nebraska] at which to purchase the fuel.”
Sneller was involved in the process of bringing E10 to the marketplace, which began in the 1970s, so he’s been feeling a sense of déjà vu lately. Opposition from the petroleum industry and the constant battle against misinformation were issues back then too. “We’ve been down this path before and it’s a challenging process,” he says. “But nonetheless we saw success with E10 and we hope that we will see some more success with E15 and higher blends.”
Automakers were key to E10’s acceptance. Sneller recalled in the late 1970s, when General Motors first announced its 1979 model and newer vehicles were compatible with E10. Over time, as more automakers got on board and as the fleet started turning over, E10 gained ground. “We saw, in about a decade, going from a novelty fuel in the Midwest, to a fuel that was used across the country,” he says.
The process has begun to repeat itself already. In October, General Motors announced that E15 can be used in model year 2012 and newer vehicles, while Ford Motor Co. approved E15 for use in 2013 models and newer. Automakers’ acceptance of E15 is critically important to consumer and retailer confidence moving forward, he says.
Author: Holly Jessen
Features Editor, Ethanol Producer Magazine


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Ford is on the verge of selling Jaguar to Indian company Tata after failing to see a return on its investment after nearly 20 years. What caused the British luxury car maker’s decline?
When the Ford Motor Company acquired Jaguar in 1989, the American giant was aiming for a slice of the lucrative European luxury-car business – with ambitions to snatch sales from the dominant Germans.
Nearly 20 years later, however, Jaguar has yet to post a profit, its sales continue to shrink, and the British brand is about to be offloaded to giant Indian company Tata.
Jaguar has been the weakest link in Ford’s luxury division, the Premier Automotive Group, which includes Land Rover and Volvo. At the heart of both Jaguar’s ambitions and problems has been the X-Type, the company’s entry-level, mid-sized rival for the likes of the BMW 3-Series and Mercedes-Benz C-Class.
The X-Type sedan was launched in 2001 as the crucial part of Ford’s strategy to turn Jaguar into a higher-volume luxury brand. By aiming for a slice of the popular mid-size prestige segment, the X-Type was intended to more than double Jaguar sales to about 200,000 a year.
A promising start saw Jaguar sales break the 100,000 barrier for the first since the company was founded in 1922. However, the sedan’s conservative styling – it looked like a scaled-down S-Type – struggled to attract the younger buyers it was aimed at and Jaguar sales have been in decline ever since.
Jaguar’s cause wasn’t helped by Ford, which wasn’t shy about the X-Type sharing its platform with the humble front-drive Mondeo. Jaguars are traditionally rear-wheel drive, and the presence of some Ford switchgear in the X-Type was also damaging to the car’s image.
The X-Type epitomises Jaguar’s stubborn persistence with traditional design that even cloaks its most technologically advanced flagship, the XJ.
Ian Callum, the designer hired to inject contemporary styling into Jaguar, says the X-Type was the wrong car for its target audience.
“It’s a difficult one the X-Type. It’s certainly not a car I would have designed [for the mid-size luxury market],” says Callum.
“The X-Type was a traditional-looking car for a young market. And let’s say that that balance wasn’t quite correct.
“Younger-minded people and even older people in their 50s don’t want to drive a car that their dad would have driven.”
Jaguar’s Scottish design boss believes there were senior managers within both Ford and Jaguar that didn’t understand the values of the British brand.
“I know Geoff [Lawson], my predecessor, was under pressure to design something that looked quite clearly like a Jaguar, because [Ford] were going into a class [3-Series segment] they hadn’t been in before.
“He was given quite clear instructions at the time that the X-Type must look instantly like a Jaguar. And that’s what they did.”
The X-Type has now been discontinued in North America, contributing to a disappointing 2007 in a crucial market for Jaguar when year-on-year sales dropped by a quarter. In Europe, Jaguar’s 2007 sales fell by a fifth to 33,700.
As Drive reported last year in a world exclusive, Jaguar is considering axing the X-Type from its model line-up.
The new XF – which replaces the S-Type – will become Jaguar’s new volume-selling model, with spin-off variants such as a wagon and coupe (but definitely no convertible) expected down the line.
Callum, however, won’t rule out a new, smaller Jaguar joining a future line-up that he says will always comprise only four or five cars in total.
“I do believe there is a place for small luxury cars in the world,” he says. “But you’ll have to wait and see what we do.
“There’s a place for a smaller [Jaguar] but it must be upmarket. We don’t want to sell cars with cloth seats.”
The next-generation XJ is due next in 2010, but other models – including a much speculated 21st-century version of the legendary E-Type – will be determined by Jaguar’s new Indian owner.


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Pinterest’s first global advertising summit on Wednesday revealed a few surprises: Along with new ad products and growth in some surprising user segments, the company decided to add a little star power to its roster of speakers.
While Pinterest executives and invited business guests comprised most of the speaker list, the event also welcomed model, author, TV and social media star Chrissy Teigen, along with special guest Dan Levy, co-creator of Golden Globe winner “Schitt’s Creek.” Levy joined Pinterest chief marketing officer Andréa Mallard to talk about how telling stories can create positive spaces in real life.
His advice for storytellers? “Go with something that means something, as opposed to playing it safe,” Levy said, adding that for his show — which resonated with LGBTQ audiences — he and his creators were “being as authentic as we possibly could.”
He also had a takeaway for brands, in particular: “There’s just a lot of people who don’t see themselves in advertising,” he said. “It really goes a long way to know that companies value, in my case, a gay man. But it should go way beyond me. There are people who really don’t see themselves in advertising. And those people should be broached.”
The sentiments fit well into the context laid out by Jim Habig, Pinterest’s global head of business marketing, ahead of the summit.
“Pinterest’s mission to help people around the world create a life they love has become more relevant than ever during the past year,” he said. “Through our long-held commitment to being a positive destination globally, we have the opportunity to lead with our values and shape the future for our users and partners.
“Advertisers around the world play an incredible role in building this positive environment, and we’re excited to share our new ad tools and insights to make it easier than ever to connect with our engaged audience around the world,” he added.
Those tools, revealed by the visual discovery platform on Wednesday, include new video placement and tools that provide trends, insights and conversion data.
According to the company, video is “exploding” on Pinterest, with users watching nearly one billion videos per day. With Pinterest Premiere, advertisers can slate exclusive video placement on the home feed for a targeted demographic or by category, combining demographic and interest, over a specific time frame. The goal is to help brands feature launches or brand events, as well as ongoing campaigns.
The company also unveiled Pinterest Trends and Conversion Insight, which help advertisers make sense of what’s popular in the platform and react to the trends, as well as gauge the success of their campaigns.
True to its name, Pinterest Trends covers trending data and insights from the platform for U.S. advertisers. Conversion Insight pulls promoted and organic metrics into a single report, to help brands better understand attribution windows and general consumer paths to purchase. They join Pinterest Predicts, which the company bills as its “not-yet-trending report. A window into the future from the platform where people go to plan it,” as described on the company’s business site.
According to Pinterest, the platform swells with nearly 500 million people, with monthly active user levels totaling 459 million “pinners.” In the fourth quarter of 2020, the platform noted a 50 percent year-over-year increase in the number of boards created globally, with spikes in created boards across core Pinterest categories, including a 49 percent increase in beauty, a 103 percent increase in women’s fashion and a 37 percent increase in home decor.
With a broad scope to cover, the company held virtual events in Australia, Canada, France, Germany, New Zealand, the United Kingdom and the U.S. It also notes that the virtual conference is fully DICE-certified, denoting the U.K.’s Diversity and Inclusion at Conferences and Events guidelines to ensure a representative and diverse set of speakers, perspectives and attendees at events.
Concerning matters of sentiment, Pinterest also addressed a few data points about some of its newer — and surprising — growth segments in a blog post on Wednesday.
The platform once known as a social bookmarking platform popular among women reports now that it’s gaining steam with Gen Z and male users.
Both audiences grew 40 percent year-over-year in 2020 on a global basis, the company said, and it credited the increases as key drivers for its new user growth in the U.S.
And despite a tumultuous 2020, the Pinterest behavior of Gen Z users in the U.S. seemed to show that they were hopeful about what comes next. Pinterest data shows that 46 percent remain career-focused and 54 percent feel optimistic about their financial future. Notably, this user segment was also known to create Pinterest boards to track small businesses to shop or boards for product lists.
They looked to stay active in social movements, tracking boards such as “Black Lives Matter,” “Native American Representation in Children’s Books” and “Power of Female.”
Overall, Pinterest appears to be doubling down on what it describes as “positivity matters” messaging. That sentiment is apparently data-driven, too: According to the company, eight out of 10 people who use the platform say it makes them feel positive.
“We have a vision for a better, more fun online shopping experience — and we’re just getting started,” the company promised on its blog. “This year you’ll see an even better shopping experience on Pinterest for both merchants and pinners.”


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Will the print medium survive the digital age, is a question that is almost entirely viewed through the prism of newspapers and magazines. But there are other uses of printing, too, like for example, calendars and alamanacs. And, as the countdown for 2014 begins, a number of them have hopped up on Avenue Road in Bangalore.
Quiz question: which calendar/almanac used to be India’s highest circulated publication, according to the Audit Bureau of Circulation (ABC), selling at one time more copies than India’s highest circulated newspaper?
Photograph: Karnataka Photo News


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Bitcoin is considered legal tender in Japan, and shops accept payments made in the "virtual currency." Subscribe to the ABS-CBN News channel! - http://bit.ly... The price of bitcoin has risen 10-fold this year, and even institutional investors are becoming interested. David Nicklaus and Jim Gallagher remain unconvinced; they both think bitcoin is a bubble. Play next; Play now; Bitcoin still high risk, not yet ready for mainstream - Bitcoin Foundation General Counsel . by RT. 26:15 Virtual currency boom hits S. Korea ... Exchange will become the first traditional exchange to open trading for Bitcoin futures this Sunday. Bitcoin has taken off here in South Korea, too, and ... Bitcoin is a virtual currency gaining popularity across the web for its ease and speed of use, as well as its anonymity. Annie takes a look at the many uses for Bitcoins, and talks to Fred Ehrsam ...


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Following their East Coast expedition, G.O.O.D. Music headed out west to continue promoting Cruel Summer in Los Angeles. Big Sean, Common, and 2 Chainz went their separate ways, while Pusha T, Teyana Taylor, and CyHi the Prynce stopped by Best Buy to sign copies for the first 500 fans who purchased the album.
After the last CD was signed, the crew celebrated at Blok nightclub in Hollywood. Pusha T spit some bars in the DJ booth, while Teyana popped bottles of Hennessy VS and chatted with her friends Teairra Mari and Karrueche Tran.
According to HITS Daily Double, Cruel Summer will debut at No. 2 on next week’s Billboard 200 with 180-200,000 copies sold.
Check out more pics from the G.O.O.D. day in L.A.
Photos via Def Jam and Hennessy


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Engadget: Microsoft Edge now supports passwordless sign-ins
Edge users will soon be able to securely sign into websites without having to remember their passwords due to Microsoft’s latest update to support the FIDO-based WebAuthn standard.
MORE FIDO in the News
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An Upper West Side family is offering a $1,000 reward for the safe return of their Bearded dragon lizard, which was swiped from a pet store over Memorial Day weekend.
The Shapiros were boarding their two pet lizards at Petqua on 98th Street and Broadway over the holiday when a pair of hoodlums ran in on Saturday at around 4:30 p.m. and grabbed reptile, named Sandy.
“We’re really worried about her,” mom-of-two Stacey Shapiro told The Post on Wednesday. “My kids really have an attachment to this lizard… the most important thing is getting her back safe.”
The family didn’t hear about the cold-blooded theft, first reported by West Side Rag, until they came home Monday, because the pet store didn’t have a phone number to reach them, Shapiro said.
“We went to pick them up [and] the owner of the pet store said ‘we’re really sorry’… I thought one of them had died,” Shapiro recalled.
The owner told Shapiro how one of the thieves had distracted a store worker, while his accomplice grabbed Sandy from an unlocked cage.
The poacher stuffed the orange lizard down his shirt before sprinting out of the store.
The store’s owner ran after the thieves, but was unable to catch them.
Shapiro said she has some video from a nearby store of the thieves running away, but no footage that shows their faces.
Cops confirmed the 24th Precinct is investigating the theft and described the suspect as a Hispanic male in his 20s. They said the lizard is worth about $250.
According to Shapiro, the store’s owner recognized one of the thieves, because he’d previously tried to sell him a lizard.
The family is worried that Sandy was stolen so she could be breeded. Female Bearded dragons can lay 20 or more eggs at the time, which can fetch hundreds each. Because Sandy’s name was written on her cage, the thieves knew she was a female, Shapiro said.
“We’re concerned about the wellbeing of Sandy,” Shapiro said, adding that her 9th grader is worried after seeing “so many things on the Internet about how breeders deal with these lizards.”
“My kids are pretty distraught, especially my youngest,” who is in 2nd grade, Shapiro said.
Anyone with information about Sandy is asked to reach out to the family at email@example.com.


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The Metropolitan Development Authority of Manila recently announced that it is considering implementing a digital coding system again to solve the problem of sudden vehicle congestion that is close
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BRUSSELS (Reuters) - The European Commission opened an investigation into whether Samsung Electronics has distorted competition in the European mobile device market, breaking EU antitrust rules, the EU executive arm said in a statement on Tuesday.
The Commission said that last year Samsung sought injunctions in various EU countries against competitors making mobile devices saying they infringed some of its patent rights, which it has declared essential to implement European mobile telephony standards.
Yet in 1998, when third generation mobile telephony allowing fast mobile internet browsing was being launched in Europe, Samsung promised to license its patents essential for the implementation of the new mobile telephony standard to others on fair, reasonable and non-discriminatory (FRAND) terms, the Commission said.
"The Commission will investigate, in particular, whether in doing so (seeking injunctions on patent infringements in 2011) Samsung has failed to honor its irrevocable commitment given in 1998 to the European Telecommunications Standards Institute to license any standard essential patents relating to European mobile telephony standards on fair, reasonable and non-discriminatory (FRAND) terms," the statement said.
"The Commission will examine whether such behavior amounts to an abuse of a dominant position prohibited by Article 102 of the Treaty on the Functioning of the EU."
Samsung's main competitors in the mobile device market are Apple of the United States, Finland's Nokia and Canada's Blackberry maker Research in Motion, as well as other makers of phones using Google's Android software.
(Reporting By Jan Strupczewski; editing by Rex Merrifield)
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In the runup to the referendum, we heard repeated warnings that, whatever the outcome of the actual vote, the damage to the UK economy had been done. The Bank of England, whose governor has been accused of becoming something of a fellow traveller for Project Fear, warned in its Monetary Policy Committee meeting in March that: ‘There appears to be increased uncertainty surrounding the forthcoming referendum on UK membership of the European Union’. In April, the BoE was at it again, downgrading second-quarter growth from 0.5 per cent to 0.3 per cent. Warnings such as these risk of being self-fulfilling: if you talk about uncertainty, it’s hardly surprising that investors feel uncertain, creating a knock-on effect out of nowhere.
But it was confirmed today that UK’s economy actually grew by 0.6 per cent over April, May and June of this year. Household spending drove the growth, rising at its fastest rate in eight years. What’s more, the Office of National Statistics is clear that:
There is very little anecdotal evidence at present to suggest that the referendum has had an impact on GDP in Quarter 2 2016.
Today’s figures are a confirmation of the earlier estimate put out at the end of July about what Britain’s second quarter GDP figures look like. The ONS say this estimate is based on 80 per cent of the data available to them, making it unlikely that any future predictions of Britain’s GDP in the run-up to the referendum will be downgraded. The numbers out today also offer a more detailed picture of household spending, which rose by 0.9 per cent – a healthy sign in that this is the best quarterly increase for two years. Oxford Economics says there is a 70pc chance of missing a recession.
When added to the employment figures (unemployment actually fell last month) and the soaring stockmarket and buoyant high street sales (the CBI says its headline gauge for retail sales is +9, up from -14 last month) there is precious little evidence of a Brexit Armageddon.


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The world’s largest inland container port is once again growing dynamically: on January 1, 2008 the first shipping line container terminal in the European hinterland will start operations in Duisburg-Rheinhausen. The lines involved are CMA CGM, the third-largest container line in the world, and NYK, the largest Japanese shipping group. The new terminal will be called Duisburg Trimodal Terminal (D3T). The total investment will be around 20 million Euros.
Four half train-length platforms will be built on the lot and a crane for water and track handling will be erected. The handling area will be operated by Duisport. ‘All the stockholders would like to realize a close operational cooperation with the neighboring DIT Duisburg Intermodal Terminal in order to be able to transfer to the numerous routes into the European hinterland,’ said Erich Staake, Duisburger Hafen AG’s Chief Executive Officer.
Another reason why the shipping lines decided for this location was the nearby DUSS-Terminal in Duisburg-Ruhrort. The terminal is connected to most of the routes in the European distribution network and is directly linked with the ‘Ruhrort-logport-Shuttle’ operated by Duisport. Against the background of quickly growing cargo volumes and the threat of bottlenecks in the seaports a change in the shipping lines’ strategies has taken place. They are increasingly focusing on hinterland hubs that will be utilized for European cargo distribution.
A significant proportion of the volumes expected at the new shipping line terminal will be gateway traffic, which will be transported via Duisburg into the European hinterland. ‘CMA CGM und NYK are consolidating their cargo at the Duisburg location. Because most of these volumes were not previously handled via Duisburg the neighboring DIT will also profit,’ explained Staake. Examples are CMA CGM’s plans for an additional railroad connection towards France and NYK’s plans for an expansion of its block-train service for containers between Amsterdam, Rotterdam and Duisburg. CMA CGM and NYK assume that more than 100,000 teu will be handled by this location as early as two years after commencement of operations.
The strategic partnership between the shipping lines and duisport has grown over the years: NYK’s logistics operation was the first customer at logport. Since then the company has established its German headquarters in Duisburg and is among the most important warehousing customers of the duisport Group. The Liner Division of its parent company, NYK Group Europe, is now in the top 10 of the largest container shipping lines worldwide. ‘We not only see Duisport as local inland port for the Lower Rhine Ruhr area but also as our future Pan-European hub to support our strategy to strengthening our distribution network into Central and Eastern Europe,’ explains Ken Steptoe, Director Inland Operations, NYK Group Europe.
Duisport Agency GmbH, a subsidiary of Duisburger Hafen AG, operates a daily railroad connection between Duisburg and Zeebrugge with CMA CGM. In addition, CMA CGM is duisport’s partner as a stockholder in the seaport container terminal Antwerp Gateway. ‘D3T will be the opportunity for CMA CGM ’ through Rail Link and River Shuttle Containers subsidiaries ’ to offer a wide range of intermodal services to our customers, connecting Duisburg area to the sea ports and to the European hinterland,’ said Farid Salem, Chief Executive Vice President of the CMA CGM Group.
‘With this terminal the strategic importance of the port and logistics location of Duisburg will grow, with additional flows of goods and more value added. CMA CGM and NYK will operate the new terminal as equal partners alongside us as the junior partner,’ said Duisport CEO Erich Staake.
The project is subject to the approval by the antitrust agencies.


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RadioShack’s shambling remains were provided another jolt of life today. Radioshack 3 In One Remote Codes 15 2113… when they were purchased by another business that plans to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand worldwide.
REV claims it’s effectively turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack 3 In One Remote Codes 15 2113
REV says it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you wish to purchase pricey HDMI cables and knockoff headphones.


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A great man has passed away and we all mourn the loss of Madiba, but while we mourn, let us also celebrate the life and the achievements of one of history's greatest statesmen, and certainly South Africa's and Africa's greatest. (video)
6 Dec 2013 05:06
NEWSWATCH: The ANC insists Thuli Madonsela leaked the provisional Nkandla report to the media, reports Mail & Guardian. She says she didn't, reports the SABC. Meanwhile, the final Nkandla report, warts and all, is due to be released in January, reports Sowetan Live, and Madonsela has hit back at her ANC critics (stopping short of labelling three of them liars), reports IOL.
By Rod Baker 5 Dec 2013 09:08
I have seen this on numerous occasions during my career... companies decide that they can do a better job, and cheaper, than an agency.
By Rolf Akermann 4 Dec 2013 15:39
Nando's reckons Sanral could at least have taken us to dinner before, what many believe to be a case of, taking us to the cleaners, that is.
3 Dec 2013 10:56
Last week, Gloo was recognised as South Africa's best-performing digital agency at this year's Assegai Awards. Winning eight statues on the night, the agency continues to prove itself as a strategically led creative agency that delivers business results for its clients.
Issued by Gloo 3 Dec 2013 09:40
Full-service advertising agency Penquin, together with ConCept G Exhibitions and Events, were recently awarded the EXSA Best Outdoor Stand 2013.
Issued by Penquin Airtime 3 Dec 2013 08:52
With the advent of the Protection of Personal Information Bill (POPI) that has been passed into law, it is essential for marketers and entrepreneurs alike to understand the impact that this Act will have on the way in which we conduct business.
By Nick Durrant 3 Dec 2013 07:00
"Big data" has become the latest panacea for creating customer loyalty. "Big data" usually goes with other mysterious terms like "analysing telephony metadata," "separating the signal from the noise," and "We know the precise ARPU* for our clients."
By Aki Kalliatakis 2 Dec 2013 10:13
Fast-food franchise Nando's plans to refresh its market positioning and has filled the coop with a roster of marketing agencies.
2 Dec 2013 07:03
The fourth annual PwC South Africa Entertainment and Media Outlook was launched recently and I caught up with Vicki Myburgh, Entertainment & Media Industries Leader for PwC Southern Africa.
By Danette Breitenbach 29 Nov 2013 15:01
The digital media never sleep. Content on Bizcommunity.com's industry web and mobisites is archived and accessible by our community and your prospective audiences 24/7, 365.
Issued by Bizcommunity.com 29 Nov 2013 14:54
"At present, we only know," George Orwell wrote in his great piece on censorship, "that the imagination, like certain wild animals, will not breed in captivity." Orwell was wrong.
By Anton Harber 29 Nov 2013 08:32
At the time of writing this article there were 34 days to go, before the end of 2013. This is a time during which we should start a paradigm shift, to seeing 2013 for what it is: The year that's gone by. Right? Wrong! Especially not if up to 40% of retail sales happen at the tail end of the year.
By Catherine Milward-Bridges 29 Nov 2013 07:51
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California voters rejected a plan to make electric vehicles more affordable for some residents, dealing a blow to both Lyft and the EV industry.
Proposition 30 would have taxed residents earning more than $2 million a year to subsidize electric cars and public charging stations, as well as fund Forest fire prevention programs. Even with only 41% of the votes collected so far, defeat was clear. As of Wednesday afternoon, some 59% of voters declined the offer.
The main supporter of Prop. 30 was Lyft, which paid more than $48 million to support the future wealth tax. Opponents of the measure — which included Democratic Gov. Gavin Newsom and venture capitalists Michael Moritz and Ron Conway — introduced Prop. 30 as “Lift crime”, calling him “a scheme to further line the pockets of Silicon Valley tech billionaires”.
Yet Proposition 30 does not include exemptions for ride-sharing companies. It would raise tens of billions of dollars to lower the price of electric cars for individuals, including drivers for ride-hailing apps like Lyft and Uber. Both companies have committed to going electric by 2030, and this measure could help them achieve their goals.
Earlier this year, California mandated this almost all shared vehicles to go electric by 2030, as part of a larger effort to gradually push internal combustion engines off the roads. Although the state already works with some programs to help cover electricity costs, Prop. 30 could provide additional assistance. Without it, ride-hailing app companies could be forced to shell out extra cash, one way or another, to incentivize their drivers to switch so they comply with the state’s mandate.
However more accessible options are gradually coming to market, overall electric vehicles are still in short supply and most are too expensive in advance for most people. That’s not good for the climate, since light-duty vehicles like cars and SUVs make up more than half of U.S. transportation-related emissions, according to EPA.
On the Nasdaq, Lyft closed at $10.64, down nearly 2.4% from the previous day. The decline pales in comparison to the meltdown Lyft shareholders suffered on Monday after revealing huge losses in its latest quarterly report. Earlier this month, Lyft laid off 683 employeesor about 13% of the workforce.


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Irish plants to start trading with China in 'the very near future'
Irish beef exporters are gearing up to access potentially lucrative contracts in the vast Asian marketplace of China after shipments were finally green-lit.
Ireland is the first European beef exporter to secure access to China, where a growing middle class has helped consumption of beef rise steadily.
Meat processors hailed it as an "important breakthrough" after many years of work to access the rapidly growing Chinese beef import market.
However, farm bodies have cautioned that farmers must see a dividend from the opening of the market before it can be judged a true success.
Agriculture Minister Michael Creed said the approval is for frozen boneless beef, but it may be possible to "expand the range of products over time".
It has already been flagged that the marketplace could be worth well over €100m even in the early stages. China is already the world's second-biggest beef importer and access for Irish beef is seen as a major win for the industry here.
Overall, beef imports to China have increased from under 100,000t in 2012 to around 700,000t last year - and it is expected to double by 2020. That is more than Ireland's total beef exports of 550,000t to all markets last year.
It has been hailed as a major achievement for the sector, particularly in light of concerns over Brexit as the UK currently accounts for 50pc of Irish beef imports.


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November 15, 2023 – Last week, officials in the state of Georgia announced that the American electric vehicle startup Rivian has signed an agreement with the state, granting approval for the construction of an electric vehicle factory in the Stanton Springs Industrial Area, east of Atlanta.
According to the agreement, Rivian will lease land and machinery to operate the factory, with the company expected to pay approximately $300 million in property taxes (approximately ¥21.81 billion RMB). The factory is also projected to produce Rivian’s next-generation R2 platform for future vehicle models.
Rivian initially revealed plans in 2021 to build a $5 billion (approximately ¥363.5 billion RMB) electric vehicle factory in the outskirts of Atlanta, Georgia. As outlined, the new facility will employ over 7,500 workers and is set to produce over 400,000 vehicles annually.
“This is a momentous day,” stated JDA and GDECD in a joint declaration. “Leasing the site to Rivian is the next step in realizing this generational opportunity and creating employment opportunities for residents of Jasper, Morgan, Newton, and Walton counties in Georgia.”
Situated near the I-20 corridor east of Atlanta, close to the historic Walton County community of Social Circle and bordering Morgan County, the factory marks Rivian’s second manufacturing facility after the one in Normal, Illinois, which produces the R1T pickup and R1S SUV.


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Halo, the popular video game franchise developed by Microsoft has launched into a new licensing adventure spanning television, arcade gaming and the anticipated release of its latest title.
Showtime, Amblin Television and 343 Industries are finalising talks around the production of a Halo television series.
The world of Halo will make its small screen premiere with ten hour-long episodes set in the universe that first caught the public in 2001. The series will dramatise the conflict between humanity and the alien threat known as the Covenant.
Production is set to begin in 2019.
Kyle Killen (Awake) will join forces with Rupert Wyatt (Rise of the Planet of the Apes) to executive produce and direct respectively the series which will be distributed globally by CBS Studios International.
Meanwhile, 343 Industries has confirmed that the next chapter in the “Halo” saga, “Halo Infinite” is in active development. A new “Halo” video game experience centred on the Master Chief, “Halo Infinite” was revealed at this year’s E3.
Whetting the gaming community’s appetite for all things “Halo”, 343 Industries’ You Tube “Halo Infinite” trailer received a staggering 5 million views.
If that wasn’t enough, a new coin-operated arcade machine game, “Halo: Fireteam Raven”, has just launched across the world including in the US and Canada.
In Australia, the cooperative arcade sci-fi shooting game from the arcade outfit Raw Thrills and Play Mechanix in partnership with 343 Industries has launched in the United States and Sydney and will progressively roll-out across the globe.
Housed in an epic arcade machine with a 130-inch, 4k screen experience and four turret-mounted multipurpose machine guns which allow four players to fight Covenant troops, spacecraft, and vehicles, encounter the horrifying “Flood” infestation — and save the galaxy in frenetic, explosive combat.
In Australia and New Zealand, Merchantwise Licensing represents licensing and merchandise development for Microsoft brands, “Halo” and Xbox.
“With over 77 million games sold and $US 5 billion in global business, Microsoft’s “Halo” has made its mark as one of the greatest video game franchises of all time, having also generated over $US 1.6 billion from merchandise sales alone," said Merchantwise managing director, Alan Schauder.
"These latest developments, including the new “Halo”-inspired TV show will rocket the brand to even greater heights over the next few years. It’s a very exciting time to be a part of the “Halo” universe.”


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While Samsung has already released several smartphones with unique display technologies, the latest reports indicate that the company is now working on new models that feature a transparent sliding display.
Samsung has filed a new patent on the World Intellectual Property Organization (WIPO) website. As per the diagrams from the patent filing, the device appears to resemble the sliding smartphones released in the past. However, the difference here is that the display is transparent and see-through in design.
An interesting fact to be noted is that the sliding display does not have a front-facing camera of its own. And on the rear side, there are up to five cameras. It appears that Samsung’s intention is to let users use the rear camera for taking selfies and the rear portion of the transparent display (when opened) will double as a viewfinder.
This new design concept seems to be a good idea on how to take advantage of transparent displays. Although, it’s not sure if the majority of consumers will be fully interested in the new form factor. There isn’t any other information regarding the specifications of the device and when the company plans to introduce it to the market.
Samsung has already invested a lot in flexible AMOLED displays that transitioned into the Galaxy Fold and Flip series smartphones. What name do you think Samsung will give to the new devices with transparent displays if it ever got released?


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When Pokémon Co. first unveiled their life-sized Psyduck plush, the internet went mad. The unique item was quick to be gobbled up by Pokémon fans, leaving many sad they didn’t get a chance to snag one for themselves. Thankfully, that’s about to change.
Pokémon Co. has announced that they’ll soon be restocking the Psyduck plush in Japan. Those interested will be able to pre-order the plush through the Pokémon Center Online store, and it’s priced at roughly $207. This is the first time the giant plush has been in stock since its original launch in 2020.
This Psyduck plush measures a whopping 31inches/2’07” and it weighs 9 pounds. This product is made in Vietnam with polyester for the exterior and polyurethane foam, EVA, and polypropylene for the insides. If you’d like to check out more pics of the plush, you can find them here.


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Alembic Pharma gets USFDA nod for ophthalmic solution
With this, the company now has a total of 86 ANDA approvals from the USFDA
Drug firm Alembic Pharmaceuticals has received approval from the US health regulator for Moxifloxacin Ophthalmic Solution, used for treatment of bacterial conjunctivitis caused by susceptible strains of certain organisms.
The approved product is therapeutically equivalent to the reference listed drug product Vigamox Ophthalmic Solution USP, 0.5 per cent, of Novartis Pharmaceuticals Corporation.
“The company has received approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Moxifloxacin Ophthalmic Solution USP, 0.5 per cent,” Alembic Pharmaceuticals said in a BSE filing.
Quoting IQVIA sales data, the company said, Moxifloxacin Ophthalmic Solution USP, 0.5 per cent, has an estimated market size of USD 68 million for 12 months, ending December 2018.
The company said it now has a total of 86 ANDA approvals from the USFDA.


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If the American fake-meat darlings Beyond Meat and Impossible Foods have their way, chef Raymond Xie will soon be able to use their meatier patties. The problem is, he doesn’t want to. “I want to use real fruits and vegetables,” he said.
Plenty of Chinese people share the skepticism about American-style, plant-based imitation meat, a fact Beyond Meat and Impossible are about to confront. Both are hungrily eyeing China, which accounts for 27% of the world’s meat consumption by volume. The recent outbreak of African Swine Fever has driven up the price of pork and primed consumers for alternatives, and if the American companies can win over even a small fraction of the country’s 1.4 billion people, the opportunity is massive.
“We want to be as aggressive as we can,” Beyond Meat Chief Executive Officer Ethan Brown said in an interview with Bloomberg in October. The company …. wants to have production running there before the end of 2020.
In November, [Impossible Foods] brought almost 50,000 samples of its eponymous meatless beef to attendees at the China International Import Expo in Shanghai. Chief executive officer Pat Brown told Bloomberg that it already had a “very good” prototype of plant-based pork.
Read full, original article: US firms Beyond Meat, Impossible Foods eye China for growth


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20 Jul 2018
Disappointing retail sales pile further pressure on the pound
UK retail sales figures released yesterday were weaker than market expectations, down 0.5% mom on a headline basis and down 0.6% ex-auto fuel, whilst the Bloomberg consensus was for +0.2% on a headline basis and +0.1% on the ‘core’ metric.
However the outturns were largely in line with Investec’s view (we had -0.6% mom for headline and ‘core’ retails sales). Although this looks to be a sizeable miss on market expectations, note that the June fall comes off the back of two solid rises and as such the three month average is far from weak on a 3m/3m basis (+2.1% which is the highest 3m/3m rate since Feb 2015) – the strongest calendar quarter performance seen for over 14 years. Indeed, headline retail sales rose by 1.4% mom in May following a 1.8% mom rise in April. In terms of a reaction, markets have chosen to focus on the monthly rate and have judged it to dampen the likelihood of an August rate hike. This has seen cable (GBPUSD) slip below the $1.30 threshold for the first time since September. Still, we reiterate that retail sales had previously enjoyed a barnstorming couple of months, making June’s decline almost inevitable. Meanwhile, labour market and inflation figures released earlier in the week - though softer - were consistent with the expectations of the Monetary Policy Committee (MPC). Our expectation for Q2 GDP is also bang in line with Bank staff projections at the June MPC meeting.
Hike or no hike
We continue to expect that the Bank of England rate will increase next month to 0.75%. Note that we are set to hear from a number of MPC members before they go into ‘purdah’ next Friday. External member Silvana Tenreyro is expected to pen a piece for the Evening Standard over the next few days, while Deputy Governor Ben Broadbent set to speak on Monday. If the Bank wants to make sure markets are on the right page ahead of the August meeting, these look like ample opportunities to do so.
Draghi to raise rates before term ends
According to a Bloomberg survey of economists, Mario Draghi is expected to fit in one interest rate increase before his term as ECB president ends. Draghi is due to leave the European Central Bank in October 2019, with survey respondents backing a rate hike the month before his eventual departure. The result of the survey certainly matches market expectations that rates will remain at record low levels at least through the summer 2019. Next Thursday sees the ECB’s Governing Council (GC) meet ahead of the summer holiday period – it will be interesting to see whether Mr Draghi provides further guidance on the Bank’s policy path, specifically the exact timing of the anticipated hike.
Dollar slumps as Trump leans on Fed independence
EURUSD rose over 100 bps yesterday evening after trading below 1.1600 in the afternoon. The move came as US president Donald Trump broke a long standing taboo in criticising the Federal Reserve’s current policy of raising rates. Trump claimed that he was “not thrilled” with the Fed raising rates and that a stronger dollar would slow the economy, suggesting that it was interfering with the good work he was doing on the economy. His attempt to temper his comments caused almost as much concern when he stated that he was “letting” the Fed do what they feel best, suggesting that at some stage he may not be so accommodating. The move came just a day after Fed chief’s Jerome Powell’s 2 days of testimony boosted the dollar as he suggested the Fed were on course to raise rates 2 further times in 2018, and downplayed concerns over trade concerns.
The story may yet continue to run, as Trumps full interview is due to be aired this morning (6am US time), while the White House has already issued a statement clarifying Trumps comments and stating that the presidents respects the independence of the Fed.
Irish Economy: On track to meet our full-year expectations
Quarterly national accounts data released yesterday by the CSO show that the Irish economy contracted by 0.6% q/q in GDP terms in Q118. On an annual basis output was a remarkable 9.1% above year-earlier levels. We had expected a soft quarterly outturn for Q1 given the disruption caused by the extreme weather events seen in the opening months of 2018. Indeed, the Investec Manufacturing PMI fell to a 12 month low of 54.1 in March, while the Investec Services PMI reading of 56.5 in the same month was the weakest in the year to date. A number of other indicators help to illustrate this disruption, such as Retail Sales, where the value of sales fell 5.1% m/m (on a seasonally adjusted basis) in March before surging 6.9% m/m in April. To this end, the annual growth rate is somewhat more meaningful (in as much as Irish national accounts data, with the usual caveats around multinational distortions, can be). The expenditure side of the national accounts shows that the 9.1% y/y increase in GDP was produced by a 2.7% y/y increase in personal consumption; a 3.7% y/y rise in net government expenditures; a 3.8% y/y decline in gross fixed capital formation (investment); a 6.1% y/y rise in exports; and a 1.1% y/y fall in imports. The extent of the rise in personal consumption is a little surprising given the relatively lacklustre annual move in retail sales volumes in Q1 (+1.0% y/y). Furthermore, Department of Finance data show that aggregate consumer tax (VAT, excise and customs) revenues were only +1.2% y/y in Q1. Government consumption growth of 3.7% y/y is double the rate guided by the Department of Finance for FY18 (+1.9% y/y). Export growth of 6.1% had been signalled by strong merchandise trade data (goods exports +7.1% y/y in the year to date) and, to a lesser extent, the export component of the Investec Services PMI releases. Elsewhere in the release we note that the national accounts measure of goods exports was +10.0% y/y in Q1, while services exports rose 1.1% y/y in the same period. The drop in GFCF was down to the multinational sector, as imports of intangibles (mainly intellectual property) fell by a third on an annual basis. Underlying investment was much stronger, with expenditures on building and construction rising at a double-digit pace while underlying (excluding aircraft) spend on machinery and equipment increased by a sixth over the Q117 outturn. The fall in GFCF produced the 1.1% y/y drop in the national accounts measure of imports (goods imports rose 7.9% y/y while services imports, which includes intangibles, fell 5.4% y/y). Balance of Payments data released alongside the national accounts show that a current account surplus of €9.6bn was recorded in the quarter, which equates to 12.4% of quarterly GDP. This outturn was flattered by the fall in services imports noted above, but it suggests that last year’s 8.5% surplus is on track to be at least matched in 2018. Finally, as a sense check we note that the CSO provides an estimate for ‘modified total domestic demand’, which aims to strip out the multinational distortions. This measure rose 4.8% y/y in Q118, which we think is a good proxy for the underlying progress being made here.
Glenveagh: Prospectus sheds more light on investment plans
Glenveagh yesterday released a prospectus relating to its proposed €205m (net) capital raise. After the market close on Tuesday Glenveagh launched a firm placing and placing and open offer to raise net proceeds of €205m by way of an accelerated book build. Demand for all of the shares was secured. Concurrent (but independent) of this move, its largest shareholder Oaktree sold 55m shares, cutting its stake by half to 8% (based on the number of shares in issue before the capital raise). The prospectus provides plenty of detail on the potential uses of its investment capacity. Earlier this week the group detailed how it had a pipeline of €426m worth of land acquisitions. The prospectus details how these could accommodate 8,241 units spread across: 1,185 of plots on the market; 1,381 plots over which the group is in exclusive negotiations; and a further 5,675 plots which are under active negotiation. This compares to Glenveagh’s existing landbank of c. 10,000 plots. The sites are principally (c. 90%) located in the Greater Dublin Area, with the remainder located in Cork. Beyond the pipeline opportunities, Glenveagh believes that there are €803m worth of ‘future potential sites’ that could accommodate more than 12,000 units (10,411 at Glenveagh Homes and 1,775 at its Glenveagh Living unit) and which are expected to be brought to market over the coming year. The EGM to approve the capital raise will be held at 11am on 13 August. Assuming investors support the plan dealings in the new shares will commence at 8am Dublin time on the following day.
Dalata: easyHotel to enter the Dublin market
easyHotel has today announced that it has acquired a freehold site in central Dublin, on which it plans to develop its first hotel in the Irish market. The site, which is on the corner of Benburb Street and Wood Lane, has existing planning permission for a 96 bedroom hotel. The group hopes to vary this permission to develop a 130 bedroom hotel at a total cost of €18m (of which €9m relates to the land cost). This is the latest of a string of announcements of hotel investments in the Dublin market, which is a function of the buoyant conditions here. STR Global data released earlier this week (see yesterday’s Daily for more colour on this) show that the Irish capital has the highest occupancy rate (82% year to date, 91.8% in June) of its sample of 35 European cities, helping to produce RevPAR growth of 8.9% y/y in the first half of the year.
09.30 Uk Public sector finances
3.20 US Fed’s Bullard speaking