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CubaNews / May 2005
By Larry Luxner
Pledging to “protect current trade with Cuba, expand and increase the potential for future business” and work toward full normalization of bilateral trade relations, nearly 40 entities have established the US-Cuba Trade Association in Washington.
Formation of the USCTA — a nonprofit 501 (c)(6) corporation — comes only a few months after the resignation of John Kavulich as president of a rival group, the New York-based US-Cuba Trade and Economic Council.
The fate of that organization, which was founded in 1993, is unclear in the wake of Kavulich’s departure (see CubaNews, March 2005, page 3).
Charter members of the new USCTA include Archer Daniels Midland, Cargill, Caterpillar, Arthur Savage & Sons and other companies currently involved in exporting to Cuba.
The group also includes a number of state agencies and organizations like the National Foreign Trade Council (NFTC), Port of Galveston, USA Rice Federation, North Dakota Farm Bureau, Virginia Department of Agriculture and the Louisiana Department of Economic Development.
“We have formed this association because of the desire of our members not only to keep trade with Cuba running smoothly, but also to move forward to expand trade and travel opportunities with Cuba,” said the group’s president, Kirby Jones.
Jones told CubaNews that members will be invited to Havana at the end of June for meetings with government officials. Further down the road, they’ll also receive a weekly digest of news articles.
Corporate membership in USCTA is either $1,000 or $1,500 a year, depending on annual sales, while state government agencies can join for $750, other trade associations pay $500 and nonprofit groups pay $300.
That compares to annual dues of between $2,000 and $9,000 for the US-Cuba Trade and Economic Council, which for years had offered its members a newsletter, Economic Eye on Cuba, that now appears to have folded.
Unlike Kavulich’s group, which never took a public position on the embargo and was careful to distance itself from the Cuban government, the USCTA makes no bones about its opposition to current U.S. policy.
In a press release, Jones said his association was formed in response to a ruling by the U.S. Treasury Department’s Office of Foreign Assets Control that require U.S. firms to receive cash in advance from Cuba before shipping food to Cuba under the Trade Sanc-tions Reform and Export Enhancement Act.
“This action has already disrupted and directly hurt the smooth trade which in three years produced over $1.2 billion in sales by American firms,” said Jones, a Washington-based Cuba consultant who was recently profiled by CubaNews (see our December 2004 issue, page 8).
The new group’s board of directors is headed by Bill Reinsch, president of the NFTC as well as the USA*Engage coalition (see related story below). According to Reinsch,
“Cuba is the poster child for ineffective sanctions, and the embargo ought to be removed.”
The USCTA has thrown its support behind a Senate bill known as the Agricultural Export Facilitation Act of 2005, sponsored by Sen. Larry Craig (R-ID), Max Baucus (D-MT) and 28 other co-sponsors. A similar bill in the House is being sponsored by Rep. Jerry Moran (R-KS).
The USCTA’s board of advisors, chaired by former assistant secretary of state William D. Rogers, includes David Rockefeller; former U.S. trade representative Carla Hills; former secretary of defense Frank Carlucci; former CIA director James Schlesinger; A.W. Clausen, former CEO of BankAmerica and president of the World Bank; Silvia Wilhelm of the Miami-based Cuban-American Commission for Family Rights; Dr. Julius Richmond, former U.S. surgeon-general, and 20 other prominent Americans “who reflect the broad national support among different sectors for normalized trade with Cuba.”
In explaining his decision to join the USCTA board, Carlucci said he believes that “normalizing commercial relations with Cuba is in our own national interest and would likely bring better results than the 45-year-old unilateral embargo.”
Added Rogers: “We have seen the positive results of engagement with China and Vietnam. It is essential that the U.S. take the lead now in expanding relations with our strategically important neighbor, Cuba.
“This association is an important step toward building more robust private-sector commercial ties with the Cubans — a vital precondition to a more normal relationship between our country and theirs.”
Jones said the USCTA will establish a national database of companies interested in trade with Cuba, set up an e-mail alert system to mobilize support for Congressional initiatives, provide members with a monthly newsletter and organize seminars and conferences to educate the U.S. business community about doing business with Cuba.


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, FIFA’s appointed licensing agency across Asia, has launched the first officially licensed
-branded flagship store in Seoul, South Korea, working with existing partner, Cowell Fashion.
The store is situated in Myeong Dong’s shopping district, packed with international fashion brands, luxury department stores and homegrown cosmetics shops.
MDR Brand Management and Cowell Fashion plan to launch five more flagship stores over the next 12 months across South Korea to sell FIFA-branded athleisure, casualwear, shoes and accessories. These stores will complement the 16 existing shop-in-shops inside luxury
department stores across the country, including Lotte and Shinsegae
, along with a presence in Incheon Airport.
“We are extremely proud to be leading the FIFA 365 initiative across Asia, delivering on their new objectives for the brand,” says Daniel Avener, chief executive officer, MDR Brand Management. “The development and opening of flagship stores and shop-in-shops across
MDR Brand Management, which was recently named in
License Global’s Top Brand Licensing Agents 2023
, was appointed by FIFA in 2021 to strategically build a long-term licensing program in Asia and
lead on a vision to establish FIFA as a year-round top-tier lifestyle brand, with a nod to its sporting heritage.
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Your wait for the latest Apple iPad is soon over. The folks over at 9to5Mac are reporting that Apple will make the iPad Pro available for sale online and in stores on November 11th. Pencil and keyboard accessories which Apple showed off during their reveal will be available for sale at the same time. Apple had earlier reported the new iPad would be coming in November, but they didn’t say when.
Also revealed were pricing for the new iPad. This is Apples largest iPad and comes in at the most premium in the iPad lineup. Entry level iPad Pros, with 32Gb and WiFi, starts at $799 US. Expect to pay $1079 for the top level iPad, with 128Gb of memory and LTE. Adding a pen will cost $99 and Smart Keyboards cost $169.


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Philips is splitting in two. The Dutch conglomerate is to put its lighting business into a separate company
It is the latest step in Philips’ plans to move out of less profitable consumer electronics and into fast-growing areas like healthcare.
The split will take up to 18 months to complete and the company said it should make it easier for both the new entities to raise money and invest.
Right now it is not clear whether the lighting business will be sold off to investors.
German engineering giant Siemens did the same last year, spinning off its light bulb maker Osram.
Philips, which invented the audio cassette and compact disc, grew into a world-leading electronics company by the 1960s but it has always been ruthless about moving out of less profitable businesses, such as audio and video, vinyl records and TVs.
Philips Chief Executive Frans Van Houten said: “I do appreciate the magnitude of the decision we are taking, but the time is right to take the next strategic step for Philips.”
“Great companies need to reinvent themselves, we can do that, we can stay relevant, we can grow and we can stay successful. It takes courage but it’s a path we’ve been preparing for carefully,” Van Houten added.


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This week in the world of weed…
The Business of Weed is a weekly series brought to you by Jay Rosenthal, the Co-founder and President of Business of Cannabis, to keep you up to date on all weed-related news. Here are this week’s biggest headlines.
What is supposed to be the pot equivalent of the Breathalyzer, which is (seriously) named the Drager DrugTest 5000, was approved this week by Justice Minister Jody Wilson-Raybould. Skeptics are already lining up to file suit on behalf of anyone that fails this test. Why? Because unlike the Breathalyzer that measures real-time impairment from alcohol, the Drager DrugTest 5000 only measures THC in your system – which may or may not equate to impairment.
An Edible Emergency?
A report was issued this week showing that cannabis-related emergency room visits were on the rise. Partly because of the rise in consumption of cannabis edibles. For some, this was a way to show that legalization is dangerous. Don’t fret anti-legalization folks, edibles won’t be legal in Canada for at least another year.
Cannabis is being legalized throughout Canada. But how, where and when you can buy it is going to vary province-by-province. If this is confusing to you – don’t worry – someone came up with a website to help. Bookmark this site as you travel: potbyprovince.ca
That’s all this week. Check back next Friday for all cannabis related news.


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Since the beginning of 2022, global central banks, led by the U.S. Federal Reserve, have been raising interest rates, at times quite aggressively, in hopes of slowing global demand so it comes into better alignment with supply, thereby easing inflationary pressures. The mechanism has a predictable impact on interest-rate sensitive areas of the economy, like manufacturing, the housing market, and certain areas of consumer finance, making debt-driven spending less appealing. Like clockwork, manufacturing PMI in the United States has been in contractionary territory since October 2022 and the hot pandemic housing market has cooled substantially, with existing home sales declining sharply since February 2022 as rising 30-year mortgage rates reached a peak above 7% last year.
Monetarism is an economic school of thought that emphasizes the role of governments in controlling the amount of money supply. Among its fathers was Milton Friedman, the famed University of Chicago economist who described inflation as “always and everywhere a monetary phenomenon,” meaning that he believed that inflation (and its persistence) is a product of too much money in the economy. After an experiment with monetarism that arguably helped rein in inflation expectations during the Volcker Fed, scrutiny over monetary aggregates gradually became less and less intense in subsequent decades at the Federal Reserve. Culminating with Greenspan, a multi-decade period of low and stable inflation wrung monetarism out of prevailing Federal Reserve monetary policy theory. The decay of institutional memory of the Great Inflation of the 1970s, and growing evidence of a structural disinflation, removed monetarism from the philosophical toolbox of monetary authorities.
Over time, the Fed’s balance sheet has expanded as the existing money supply has risen quite dramatically. The principles of monetarism were unwittingly flipped on their head, as expansion of money supply was seen as playing a role in fending off deflation.
Hawkishness and dovishness by Federal Reserve regional governors is now mostly expressed through differing opinions on what level the Fed Funds Rate should be and how quickly to get it there. Little public debate concerns how to properly handle monetary aggregates and the Fed balance sheet. But can inflation really be brought down sustainably without a return of vigilance regarding money supply?
On the surface, the answer for the last six months has been “yes.” Even with a relatively slow pace of Quantitative Tightening (starting at $45 billion per month last June and accelerating to $90 billion per month in September 2022 as opposed to approximately $2.8 trillion of Quantitative Easing in March to May of 2020 alone according to Statista data), and other pro-liquidity measures that appear to have offset monetary tightening since last October, consumer prices have eased from an annualized peak of 9.1% in June 2022 to recent readings of 6.4% in January. But now comes the real test. The initial disinflationary effect of tighter financial conditions driven by higher central bank interest rates could at some point subside; in fact, evidence appears that the market has spent the last six months frontrunning an easing in conditions. The Fed’s reluctance to aggressively remove excess liquidity may soon lead to stubborn inflation readings, as a propped-up financial economy could spur new credit impulses that reaccelerate flagging economic growth. Higher asset prices also can boost consumer spending as recovering balances in 401(k)s and retirement investment accounts tend to boost consumer confidence.
If monetarist theory is right, and inflation is indeed always and everywhere a monetary phenomenon, that little progress has been made on removing excess liquidity from the financial economy could mean inflation levels will stay above the long-term average as the level of money in the economy is far above the long-term average. And, with so much money in circulation, the U.S. economy may be susceptible to a return of shockingly high inflation should demand for goods reaccelerate globally or another unforeseen shock reverberate through supply chains.
In Axiom’s view, investors should consider hedging the possibility that money supply has an underappreciated effect on long-term inflation by owning inflation beneficiary assets like commodities and continue to closely monitor Federal Reserve monetary actions. If price inflation is the product of too much money chasing too few goods, with the benefit of hindsight, investors may one day realize that roughly $5 trillion of additional money added to the financial economy through the Fed’s balance sheet as well as nearly $10 trillion of public debt added since 2019 (figures according to Bloomberg data) was too much money for any amount of goods that could possibly be produced anytime soon.


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In Covid Lockdown, Young Indians Missed Restaurants and Travel More Than Anything
What was Covid-19 lockdown like for Gen Z in India?
We conducted nationwide research across India to find out what was on young people’s minds throughout the lockdown phase, as well as what they expected to do post-quarantine.
Here’s some of what we learned:
Young Indians felt anxious when the lockdown began and coped by acting responsibly. India’s Gen Z stepped up to the emotional challenge of the lockdown in typical fashion – by being grounded and adaptable. When asked their main reasons for social distancing, keeping their families safe was the most important goal. Increases in the topics they were searching for online also reflect their mindset during that time – hand washing (+643%), easy recipes (+110%), online prayer (+110%), and online workouts (+108%).
They believe in the power of giving, even though some of them lost work. A third of the young Indians we surveyed said they had donated to the poor and 17% gave to government or state relief funds. Aside from financial contributions, many were willing to provide other kinds of support – 61% said they had offered to drop off groceries and supplies to those who were quarantined at home. More than 1 in 10 (13%) of those living in metros lost jobs or internships due to the lockdown.
Quarantine gave them a sense of gratitude, but some have struggled with their mental health. Some consequences of the lockdown were beneficial – 61% of young Indians said they better appreciate domestic help and other essential services. They also mentioned that the lockdown gave them a greater understanding of the importance of nature, open spaces, meeting people, and going to the office. But that’s not to say it’s been easy. Their families (65%) and friends (44%) kept their spirits up, as did online videos (71%) and inspiring TV shows and movies (30%). However, a third felt they needed some form of mental health help.
They really miss dining out and travel – and are willing to take some chances with dating. The activities India’s Gen Z missed most in quarantine were eating out (66%) and travel (57%). Those in cities predicted they would eat out at least as much as they had previously once restaurants reopened (70%). In travel, they said they would avoid flying and prefer Airbnb over hotels. Nearly a third thought they would use more personal transportation in the future. Some also looked forward to post-lockdown dating – 41% said they would go out on dates, especially if they knew the person already, and 42% were open to kissing on the first date.
Some of their lockdown shopping habits are likely to continue. More than half of young Indians (55%) expected to continue shopping online for clothing and personal products like face cream and perfume at least as much as they had previously. The kinds of brands they predicted that they’d prefer going forward were those with contactless delivery and online shipping (44%), local brands (37%) and brands that supported Covid relief (28%).


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As if your business didn’t have enough to worry about right now, the spectre of cyberattacks looms larger than ever. While it may seem like big names bear the brunt of digital disruption, the reality is far scarier: More than 40 percent of all cyberattacks are directed at small businesses, according to data published by Verizon.
Now more than ever, small players can’t afford to have their core operations disrupted. Investing in cybersecurity infrastructure now can mean big savings down the line, but you have to know what you’re up against first. Understanding the kinds of cyber threats out there is the first step to protecting yourself — and your company — against them. These are six of the most common.
Ransomware, or software that publishes private data or otherwise harms your business unless a cash reward is given, has quickly become one of the biggest threats to small businesses. According to IBEX, an IT training firm and Verizon’s NDR platform partner, ransomware now accounts for more than a quarter of all malware-related breaches.
Many business owners will be tempted to simply pay a ransom for things to return to normal, but any business that’s breached once can be breached again. While antivirus software is necessary to prevent the most sophisticated attacks, simply keeping your operating system up-to-date can go a long way toward preventing low-level ransomware incidents.
Related: 6 Cybersecurity Must-Haves for Your Business
When Microsoft’s security team warns that a “massive” phishing scheme is currently threatening operations across the country, you should probably pay attention. Phishing is any attempt to gain sensitive information by posing as another user or administrator, and it’s rampant in today’s digital economy. The only way to safeguard against phishing is to totally secure any and all internal communications within your company. Email encryption, vigilant user management and regular channel management are all absolute musts.
3. Inside Jobs
Some of the business world’s most notable hacking scandals, from Sony to Ashley Madison, weren’t caused by sophisticated outside agents; they came from within. As much as you may trust your team, it takes just a single frustrated employee to expose catastrophic amounts of your company’s data.
Unlike the other entries on this list, the solution to internal cybersecurity is more about pastoral care than digital. Openly communicate with your workers about the sensitivity of the data they have access to, and always be open to listening to the difficulties your team may be going through. You’ll never be able to have complete control of your employees, but you can always give them a way to make their voices heard.


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SAN RAFAEL, Calif., March 22, 2022 /PRNewswire-PRWeb/ — The world’s largest sports camp provider, US Sports Camps, has opened registration for its Nike Sports Camps hosted in partnership with Pepperdine University in Malibu, California.
Nike Sports Camps has partnered with Pepperdine University for its best facilities namely Raleigh Runnels Memorial Pool, as well as elite coaches including former UC Davis field hockey head coach, Vianney Yamadato shape its sports courses.
There is high demand for these sessions, so athletes are encouraged to reserve their spot immediately at one of the locations below.
Nike Malibu Swim Camp in Pepperdine University
The Nike Malibu Swim Camp is a world-class swim camp held in Pepperdine University in Malibu, California. This prestigious swim camp is taught by Pepperdine the women’s swim and dive team that led a record year at the Pacific Collegiate Swim Conference Championships.
US Sports Camps is proud to partner with Head Swim Coach Ellie Monobe provide swimmers with an ideal environment to learn and strengthen all swimming styles. This camp will help student-athletes improve their swimming technique and face the season.
Learn more about the Nike Malibu Swim Camp at Pepperdine University – https://www.ussportscamps.com/swim/nike/malibu-swim-camp-pepperdine-university
Nike Malibu Adult Tennis Camp
Nike Malibu Adult Tennis Camp is the best adult tennis camp in California. One-day camps, focused on singles and doubles, offer expert instruction, competitive play and good friends.
Nike Malibu Adult Tennis Camp is led by Martin Parkes, returning for his fourth year as director of the adult program. With its wealth of experience, the camp will offer technical and video analysis, training demonstrations, mental and tactical performance strategies and a live ball tournament. Whether a participant is a beginner or an advanced player, they will receive the personal attention needed to take their game to the next level.
Learn more about the Nike Malibu Adult Tennis Camp – https://www.ussportscamps.com/tennis/nike/nike-malibu-tennis-camp-adult-program
Nike Malibu Youth Tennis Camp
Learn the game of tennis in an incredible setting at a Nike Malibu Youth Tennis Camp. This famous Southern California tennis camp, organized on the campus of Pepperdine Universitywill be led by Adam Schachterlethe 16th head coach of Pepperdine men’s tennis team.
The Nike Malibu Youth Tennis Camp is perfect for young tennis enthusiasts. It includes 30 hours of instruction and play, a camp tournament and an awards ceremony recognizing their progress.
Learn more about the Nike Malibu Youth Tennis Camp – https://www.ussportscamps.com/tennis/nike/nike-malibu-tennis-camp
Nike Malibu Cross Country Camp
Nike Cross Country Camp Malibu is more than just a running camp. It gives racers of all skill levels the tools they need to succeed in cross-country racing and beyond.
Directed by Lawrence Floris, Pepperdine’s cross-country and athletics head coach, young participants will enjoy Pepperdine’s comprehensive training grounds and surrounding cross-country ski trails. Nike Cross Country Camp Malibu is a great opportunity for all high school runners ages 13-18, including freshmen.
Learn more about Nike Cross Country Camp Malibu – https://www.ussportscamps.com/running/nike/nike-cross-country-camp-malibu
Nike Field Hockey Camp to Pepperdine University
Nike Field Hockey Camp to Pepperdine University invites young people from across the country to join. Attendees will learn advanced stick techniques alongside former UC Davis field hockey head coach Vianney Yamada and his elite coaching staff. Young players aged 10 to 18, of all levels, are welcome.
Learn more about Nike Field Hockey Camp to Pepperdine University – https://www.ussportscamps.com/fieldhockey/nike/nike-field-hockey-camp-pepperdine-university
Biography of American sports camps:
US Sports Camps operates the largest sports camp business in the world. With over 1,000 camps in 16 different sports and 100,000 campers, America’s sports camps have grown steadily. However, our mission remains the same: to connect passionate coaches with young athletes to facilitate athletic and personal development in a positive and safe environment.
Katie FaunceUS Sports Camps, 9712271192, [email protected]
SOURCE American Sports Camps


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Coronavirus outbreak cuts into salary hike plans
About 60 percent of 3,000 enterprises polled in a nationwide survey said they will amend their salary adjustment plans this year to reflect the effects of the coronavirus outbreak.
According to the survey report produced by China International Intellectech Co, a state-owned human resources service company, about 18 percent of surveyed enterprises have decided not to adjust pay for their employees after earlier planning to do so, 25 percent have temporarily suspended their pay adjustment plans and 19 percent have decided to decrease their budgets for raising salaries.
CIIC predicted that China’s national average pay increase in 2020 would be 6.3 percent, compared with 7 percent last year. Shanghai would have the lowest increase among China’s four first-tier cities that include Beijing, Guangzhou and Shenzhen, with pay raises lowered to 6 percent from 6.8 percent last year.
To reduce pressure on businesses, governments at all levels in China have introduced policies including cutting taxes, deducting social security fees, waiving housing rents and other favorable financial supports.
According to the survey, industries such as medicine and healthcare, games, online education, live streaming, telecommunication services and e-commerce performed well during the outbreak. Product delivery, service quality and recruitment were common sources of pressure.
Industries such as tourism, hospitality, catering, offline education, retailing, real estate and automobiles faced declines in service demand.
As some companies try to move their businesses online under the influence of the novel coronavirus epidemic, demand for digital product operations, technology development and marketing will be high, according to the report.


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BlackBerry looks for boost from launches
Thursday 04 August 2011
Mobile phone manufacturer Research in Motion (RIM) announced its "biggest ever launch" of BlackBerry handsets yesterday, days after it said it was cutting 2,000 jobs.
Five new phones were introduced at an event in London. They will all use the new BlackBerry 7 operating system, which RIM hopes will boost sales as it looks to contend with competition from Google's Android OS and a new iPhone model.
Two new versions of the BlackBerry Bold range – the 9900 and 9930 – can be used for "contactless payments", the company announced. It also released three revamped BlackBerry Torch models – the 9810, 9850 and the 9860. The devices will become available "in the coming weeks", with 225 carriers, a spokesman said. The BlackBerry Bold 9900 will be the company's thinnest model at 10.5mm.
RIM cut its workforce by more than 10 per cent and launched a review of its management structure in a bid to cut costs at the end of July.
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As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
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This likely won't be an issue moving forward. City Council yesterday voted — 43-3 in favor of the bill — to require stores and restaurants in the five boroughs to accept cash for payment.
As Council members noted, businesses that accept only credit and debit cards are discriminating against residents who lack bank accounts and credit cards.
Enforcement details via the Associated Press:
Businesses that refuse cash will be fined $1,000 for the first violation and $1,500 after that. The measure, which is expected to go into effect by the end of the year, also prohibits stores from charging higher prices for paying in cash.
An excerpt from Gothamist:
"We in the Council have real concerns that an increasingly cashless marketplace could have a real-world discriminatory effect on the most vulnerable New Yorkers," said the bill's sponsor, Councilmember Ritchie Torres, in a phone interview. "There are some people, especially senior citizens...who prefer cash as a habitual method of payment. There are some who prefer cash because it's more predictable. Or they're concerned about privacy."
As Eater pointed out, this means that restaurant chains like Dos Toros and By Chloe and several establishments in the Union Square Hospitality Group (Daily Provisions at Union Square, for example) will have to start accepting cash.
The bill will go into effect nine months after Mayor de Blasio signs it into law. A spokesperson for the mayor told Gothamist that he supports the bill.


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Heather Boethin has been named manager of Cox Local Solutions and will oversee Tulsa’s digital sales and fulfilment efforts in concert with the company’s two TV and six radio stations there.
Cox Media Group’s Tulsa, Okla., TV and radio stations (Fox affil KOKI-TV, MNT affil KMYT-TV, KJSR-FM, KRAV-FM, KRMG-AM-FM and KWEN-FM) have formed a “collaborative digital solutions alliance” with Cox Media Inc., the sales division of Cox Communications in Tulsa. The combined digital capabilities of all three Cox properties will offer advanced digital solutions to local advertisers under the brand Cox Local Solutions.
Heather Boethin has been named manager of Cox Local Solutions and will oversee Tulsa’s digital sales and fulfilment efforts with the support of a team of digital marketing experts at Cox’ corporate headquarters in Atlanta.
Boethin joined CMG in 2007 as a radio account executive and found success in sales by mastering CMG’s digital capabilities. She was promoted to local sales manager in July 2013 and was charged with leading Tulsa’s digital sales effort.
In December 2014, she was then promoted to digital sales manager with a heavy focus on collaboration with her Tulsa TV and Cox Communications counterparts.
“This is a first,” said CMG Tulsa Radio VP-GM Dan Lawrie.“We are distinctively positioned to provide Tulsa businesses with a unique combination of digital assets and customized solutions to maximize their digital presence.”
“This is an exciting time for the Tulsa market,” said Annette Heaton, VP of Cox Media Oklahoma. “The collaboration efforts between the three Cox properties have been impressive so far. Ultimately, Tulsa advertisers will be the beneficiaries of the digital solutions we have to offer.”
“This unique collaboration will make it easier for our advertisers to buy local and national digital advertising with one point of contact,” said Greg Bilte, VP-GM of Cox’s Fox affiliate KOKI. “Advertisers will now have the convenience of one stop shopping with Cox Local Solutions staff giving them the knowledge of what’s trending now in digital advertising.”


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One the last month or so you could be forgiven for asking us one rather uncompromising question. “Will you ever shut up about measurement and evaluation?” We’re happy to answer with a simple “No.”
While there are prevailing concerns regarding the fate of the UK economy during this, our last year as a member of the EU, according to research into British SMEs, conducted by American Express, confidence is far higher than it was 12 months ago.
Weekly HighNike wins the trophy for Best Advert We’ve Seen In A While with the trainer giant’s latest clip, which looks to poke fun at people with a sneaker addiction, while also celebrating the culture of footwear worship. It made us smile, anyway, even beating the sun coming out to claim our Weekly High.
While scientists have spent years trying to prove beyond question that dark matter exists— with some estimates suggesting 80% of the universe’s total mass is invisible to the naked eye— in marketing and comms we have long been able to deliver tangible evidence to show public relations works. So why are some corners of the jury still out?
Over the weekend news hit that the UK’s best-loved cut-price pub chain was closing all its social media accounts— both centralised and for each of its 900 or so individual sites— sparking widespread debate as to why this decision has been made. Let’s look at the angles, then.


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British entrepreneur Brent Hoberman is one of several business leaders who are going to be honored a CBE, or Commander of the Order of the British Empire, for contribution to the British business community, as reported by the Telegraph. Hoberman started LastMinute.com with Baroness Lane Fox in 1998, and it was one of the rare dot.coms to emerge in good health after the dot.com crisis in 1999 and 2000.
Lastminute was sold to Travelocity in 2005, and Hoberman has contributed his ingenuity to the development of several start ups, including made.com. He also developed the interior design site, mydeco.com. which used 3D technology to enable visitors to design their own rooms. Hoberman serves as governor of the University of the Arts London and is non-executive board director of the Guardian Media group. In 2009, he was selected as one of the Young Global Leaders of the U.K. Hoberman’s inspiration in business came from his father and grandfather who expanded 650 clothing stores from a single location.
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Hoberman told the Telegraph, “It is wonderful to see the U.K flourish as Europe’s hotbed for entrepreneurial talent, and to get recognition for my small part in this.”
Other recipients of the CBE include James Caan, Julie Deane and Charlie Mullins.


text: Houston--Compaq Computer Corp. and Carlson Cos. on Wednesday made job cuts amid the economic downturn. Compaq said it would expand its cuts from 7,000 to 8,500 this year, as the No. 2 computer maker faced weakening European spending, price competition and a worldwide economic slowdown. Carlson Cos., Minnetonka, Minn., said it would cut 360 jobs at its travel agencies and technology and business service divisions. Carlson specializes in travel, hospitality and direct marketing services and has 72,000 worldwide employees.


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Guacamelee! Super Turbo Championship Edition is coming to Switch today. Drinkbox Studios announced the stealth release in a press release, adding that Guacamelee! 2 will arrive on the Nintendo console sometime in December. It won’t have any additional content, but will support up to four players with the Joy-Con.
Guacamelee 2 will release August 21st. The sequel was first announced at Paris Games Week last year.
Guacamelee 2 will be coming to the Playstation 4, exciting lucha libre fans and chicken enthusiasts around the world. Not now though. “Soon-ish.”
IGN reports that the lovely, meme-tastic PSN action-platformer Guacamelee! is coming to PC on August 8. For $15, you get the base game, two pieces of DLC, and, should you buy Guac during its first week on Steam, a copy of the developers' earlier game, Tales From Space: Mutant Blobs Attack. Read more


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Traditional Promotional Practices Are Not Sustainable for Building Long-Term Customer Loyalty, Says Retail Market Intelligence Firm
DALLAS, March 02, 2021 (GLOBE NEWSWIRE) -- Symphony RetailAI, a leading global provider of integrated AI-powered marketing, merchandising and supply chain solutions for FMCG retailers and manufacturers, today announced the release of “Personalized Promotions: The Key to Bigger Baskets and More Frequent Trips,” in partnership with Retail Systems Research (RSR).
In the paper, RSR revealed that 64% of Retail Winners say that “increased price aggressiveness from competitors” is the top external challenge in winning a greater percentage of consumer wallets. With this in mind, RSR explored the opportunity retailers have to drive profit and loyalty through more customer-centric promotions, breaking away from a routine “race to the bottom” pricing strategy.
“Promotions have always been important. But with blurred shopping channels and changing consumer behaviors, they are more important than ever right now,’” said Brian Kilcourse, Managing Partner, RSR. “In short, it’s no longer about what a retailer wants to sell, but what a consumer wants to buy. The question for retailers is how to put offers in front of consumers at just the right moment and in a way that maximizes the effectiveness of the offer. In this age of cut-throat competition from both traditional retailers and digital ‘pure-plays,’ retailers have come to realize that ‘the right offer’ is much more than just a deal that beats the competition on price. Instead, customer-centricity – indeed, consumer experience and relevance – is key to driving greater retailer loyalty.”
While important, low prices aren’t the only driver of consumer loyalty
Delivering highly relevant, customer-centric offers influences purchase decisions
In the paper, Kilcourse writes, “To maximize the value of the relationship both for the customer and for the retailer, it’s important to not only understand customer buying behavior and preferences, but to be fast and flexible enough to use that knowledge to design and execute the most relevant promotional offers that satisfy and capitalize on consumer needs.” As the paper explores in more depth, AI makes this optimization possible.
AI-powered solutions for promotions bring synergy to CPG-retailer discussions
“A retailer’s objective should not be to sell more products at the lowest price, but rather to keep customers at the center of their promotional strategy,” said Sy Fahimi, SVP Product, Symphony RetailAI. “The RSR Executive Perspectives paper outlines a number of recommendations for retailers related to promotions, from implementing or rethinking loyalty programs, to performing market basket analysis and improving retailer-CPG collaboration. The greatest opportunity, we believe, for retailers to take hold of is the efficiency that AI and machine learning bring to an organization, complementing the still valuable human intelligence of their promotions manager and marketing teams. AI stops the guesswork, forecasting the effect of promotional plans and optimizing promotional spend, so that each investment is made even more efficient. Optimizing retail promotions is paramount coming out of a year like 2020, and helping retailers to do that through AI-enabled solutions is meaningful work for Symphony RetailAI.”
About RSR Research
About Symphony RetailAI


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Coca-Cola Amatil has launched a new can format of Miller Chill as it targets refreshment ahead of summer in Au...
AB InBev has announced it has acquired Australian brewery 4 Pines as it aims to boost production of the brand...
More disposable income will mean the Chinese spirits market will grow at a compound annual rate of 15% until 2...
Craft brewer Innis & Gunn is inviting Canadian consumers to submit ideas for its next flavour of beer, launchi...
Beam Suntory has released a new Suntory whisky, matured in casks made from Japanese Mizunara wood.
AB InBev will introduce an alcohol-free Budweiser Prohibition beer in the UK as it aims to offer more choice f...
Morgenrot has launched Argentine beer Quilmes in the UK, responding to consumer interest in South American cuisine. Read more
Alfa Laval’s De-alcoholization Module, which produces non-alcohol beer below 0.5% ABV, has been presented at Drinktec. Read more
The average amount of alcohol consumed per person in Australia has increased for the first time since 2006-07. Read more
Packaging manufacturer Orora has completed a $33.8m investment to boost glass production at its site in Gawler, South Australia. Read more
The value of US distilled spirits exports rose by $67m in the first half of 2017 to reach a total value of $698.5m. Read more
Camden Town Brewery, the home of Camden Hells Lager, is unveiling its first-ever TV campaign in a partnership with ITV. Read more
Diageo aims to appeal to a younger UK adult audience with the launch of its new Gordon’s premium pink distilled gin. Read more
Portmore Rum Company has launched a new pineapple-flavoured rum as part of its Jamaica Cove brand. Read more
Innis & Gunn has received the backing of US investment group L Catterton which gives the company a value of £58m. Read more
This is a selection of new drinks published to FoodBev.com in August 2017, including Pepsi, Roku and Spirit of Zing. Read more
© FoodBev Media Ltd 2017


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Walgreen’s technology plan for omnichannel retail
June 28, 2013 10:59 AM
Drugstore chain Walgreen Co. is on a mission to revamp its digital infrastructure so that it can centrally manage and easily share data among all its selling channels, including web sites, mobile sites and apps. and in-store point-of-sale systems, says Jason Fei, director of architecture, e-commerce. That will allow Walgreen to better serve its customers, whether they are among the 1.7 million per day who visit one of its web sites (50% of whom arrive via a mobile device), the 6 million who walk into a Walgreens retail store each day or the one per second who refill medicine by scanning their prescriptions’ bar codes with their smartphones, Fei says.
“Because we have so many doors into our properties, we don’t get 10 times more money to support each division,” he told attendees at Oracle Corp.’s Oracle Retail CrossTalk conference in Chicago this week. “We need a one-commerce-anywhere platform,” he said, that is, one platform that will allow Walgreen to build a feature once and push it out to any digital channel, be it a mobile app, a web site or an in-store digital sign.
Oracle’s ATG Web Commerce platform has that capability, Fei says, and the retailer is working to use it as the base for all of its digital applications. That would represent a shift from the situation today, he says, as Walgreen now uses three separate groups of technology applications—each with a separate development team, business leadership and base of software code. That’s because the retailer has been acquiring competitors, such as web-only retailer Drugstore.com, each with its own e-commerce technologies. The retailer isn’t done making acquisitions—even now, it’s in the process of buying a European company that is running on IBM’s WebSphere Commerce platform, he says.
Walgreen is No. 36 in the 2013 Internet Retailer Top 500 Guide.
A centrally managed platform on Oracle ATG will be able to push individual software modules, such as ones for customer reviews, fraud management or payment processing, out to any digital channel, Fei says. That would free Walgreen’s developers from having to rebuild each feature for every new digital site or app it creates.
Walgreen will have to overhaul its own home-grown technology infrastructure, too, in order to achieve build-once, deploy-anywhere capabilities, Fei says. For 15 years, the retail chain has taken a “web-centric” approach to e-commerce, he says, wherein “everything other than browsers are afterthoughts.” That includes features of any mobile web sites, apps or web-connected store systems like a sales register that pulls in customer loyalty data. Until recently Walgreens built them all as ad hoc extensions after Walgreen had first designed a web site version, he says.
The core of Walgreen’s strategy is to use digital channels to drive customers into stores, Fei says. Walgreen has 10 mobile apps and mobile sites, he says, in addition to many e-commerce sites, including Walgreens.com, DuaneReade.com, Drugstore.com and Beauty.com. 35% of customers that use the Walgreen mobile app use it while they’re in stores to check the status of prescription orders, read about products and reviews, browse the store’s inventory or look up where a product is on the shelf, he says. “Every time we build a project now, it must be mobile-first,” he says.
All of Walgreen’s web sites must be built with responsive web design techniques to accommodate that need, too, Fei says. Responsive design allows a web site to detect the screen size of the device a consumer is using to browse. Then the site automatically adjusts the display to load and arrange content on each web page appropriately, for instance, arranging products in a vertical list on a smartphone but in a horizontal array on a laptop. Ultimately, a module-based, unified digital platform will allow Walgreen to build features that trump other retailers on convenience and usability, Fei says. “We’re not just in this to compete, we’re in this to win,” he says.


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[arlington, va.] US Airways and Interpublic Group of Cos.' McCann-Erickson Worldwide, Washington, split. The account was moved to Baltimore agency Eisner Communications, a person close to the situation said. US Airways declined comment. Calls to Eisner were not returned and McCann declined comment. US Airways, No. 6 among U.S. carriers, spent an estimated $13.6 million in measured media from January to September 2001, according to Taylor Nelson Sofres' CMR. The split with US Airways ends a possible conflict created when McCann-Erickson Worldwide and American Airlines agency Temerlin McClain were placed under Interpublic's McCann-Erickson WorldGroup.
Avaya opens $20 million two-stage print campaign
[basking ridge, n.j.] Communica-tions systems and software marketer Avaya breaks a $20 million print campaign this week focusing on specific product offerings. Interpublic's Foote, Cone & Belding Worldwide, San Francisco, handles. A first wave of ads will appear in media including McGraw-Hill Cos.' Business Week, Time Inc.'s Fortune and Forbes. A second wave, set to break later in January in Europe and Asia, will feature a World Cup theme. Avaya, formerly the Lucent EN unit of Lucent Technologies, began operating under the Avaya name in June 2000 and was spun off as a separate, publicly owned company later that year. Avaya ran FCB-created brand image ads last year
New Sprint ads push local service package
[kansas city, mo.] Sprint Corp.'s local telephone division in January will promote a bundle of services, including long distance, with a consumer direct-response campaign themed "The easy way." Ads, including spot TV and cable, will run in the 18 states where Sprint is authorized to provide local phone service. Spending was not disclosed. Interpublic's McCann-Erickson, New York, created TV, radio and print ads; NKH&W, Kansas City, Mo., developed direct mail, bill inserts and retail store signage and handled media buying.
Papa John's puts ad account up for review
[louisville, ky.] Papa John's International, the No. 3 pizza maker in the country behind Pizza Hut and Domino's Pizza, has issued nearly 25 requests for proposals for the creative portion of its account, previously handled by Fricks/Firestone, Atlanta. The incumbent has not been asked to defend the account. Spending plans were not disclosed; Papa John's spent $37 million through September of this year on measured media, according to Taylor Nelson Sofres' CMR.
General Motors Corp. is expected to split its African-American advertising business among four agencies this week, including independent Carol H. Williams Advertising, Oakland, Calif., which now handles Nissan North America, and Bcom3 Group's Vigilante, New York. Incumbents, including E. Morris Communications, Chicago, and Chisholm Mingo Group, New York, are not believed to be among the winners. The account is estimated to be worth more than $3 million a year in revenue. ... DaimlerChrysler's Chrysler Group, beginning a Chinese-language ad campaign in California, is airing a 30-second TV spot for its Jeep Liberty that shows a couple on a romantic night drive in the mountains. An upcoming Chinese-language spot for the Dodge Caravan minivan debuts Feb. 4. Imada Wong, Los Angeles, handles. Interpublic. holds a stake in Imada Wong through Interpublic's GlobalHue multicultural agency. ... GKV Communications, Baltimore, will develop a $14 million, 18-month anti-smoking campaign for the Maryland Action Partnership, pendin g approval by the state Board of Public Works in late January. The agency, along with partners Porter Novelli, Logicon/ROW and 21st Century Group, was recommended by the Maryland Department of Health and Mental Hygiene after a review of 16 agency proposals. ... The Popeyes Chicken & Biscuits unit of AFC Enterprises named Hambright, Calcagno & Downing Advertising & Public Relations, Virginia Beach, Va., agency of record for its Baltimore stores. Spending was estimated at $1 million. Together with eight other local market assignments, Hambright now handles Popeyes accounts valued at $16 million. ... Denmark dropped its ban on TV advertising directed to children, in effect since 2000. Minister of Culture Brian Mikkelsen said, "The ban on TV ads directed at kids is a good idea. But, in reality, what it meant was that Danish TV channels operated at a competitive disadvantage to foreign channels available in Denmark. We were able to regulate Danish channels, but not the foreign stations."


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Nissan/Renault considering Nano competitor for India
Company officials say that the low-cost transportation could be among six new products scheduled for India by 2012, and with the country's low-cost labor, Nissan/Renault could also export any vehicles it makes there.
[Source: The Times of India]
- Most and least efficient car companies
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models


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Free samples add that special element to any grocery shopping experience: if a smiling employee offers up a toothpick-speared cube of cheese, the chore suddenly becomes a bit more fun. So imagine the fun that the Portage community had when they gathered at the brand new Strack & Van Til store on April 11th. Not only were there free samples throughout the entire store—they were celebrating the opening of the store itself.
Residing off of Central Avenue, in the space formerly occupied by Town & Country Market, the converted Strack & Van Til location consists of entirely fresh contents. Everything from the shelves to the produce to the aprons that Strack & Van Til employees wear is new and improved.
“After a few months of renovations and completely redoing the inside of the store, we have our newest Strack & Van Til to the family,” said Jeff Strack, owner and CEO of Strack & Van Til. “We’re excited about all of the changes we’ve put into this store.”
Strack went on to detail the ways in which this new location stands out, and how it will impact the people of Portage.
“We’ve put much more emphasis on customer service, on our perishables department, and more importantly, on meal solutions for our customers—how we can help them decide what choices to make and to feed them throughout their days,” Strack said. “We have a whole section of different solutions throughout each of the perishable departments to help make [our customers’] lives easier.”
Strack stood alongside the store director and Nancy Simpson, Executive Director of Portage Chamber of Commerce, in cutting the ceremonial ribbon, ushering in another era of happy customers and employees.
</>Kim Mrak, a Portage Chamber of Commerce member, was thrilled with the event’s turnout.
“This is huge for the Portage community,” Mrak said. “This store has always been here, but Stracks really stepped it up with this remodel. It’s attracting more people into the store. Lots of people are talking about it, right now—lots of people are here today. We’re very excited!”
Emery Kostelnic, another Portage Chamber of Commerce member, seconded Mrak’s enthusiasm.
“This [Strack & Van Til store] represents a new beginning,” said Kostelnic. “People are making their way out here more, and more people will stay within the community. And that’s what we want at the Portage Chamber of Commerce—we want people to stay in the community and we want to continue to do business with new people.”
Alongside representatives of the city and the store were dozens of vendors representing various products and brands Strack & Van Til distributes. Brand representatives themselves were passing out samples to customers and attendees.
“Lots of sampling going on today,” Mrak quipped, gesturing to the shoppers, vendors, and city officials connecting over cheesecake bites.
Kim Cox, a representative from Dutch Farms, knew almost everyone in the crowded store.
“Today, ninety to one hundred percent of our products are represented in this store,” Cox said. “Stracks is one of our best accounts, because we’re all really like family here.”
The amount of mingling, networking, and munching taking place made for an excellent afternoon of shopping.
“I love seeing the people that really make our company tick,” Strack said, glancing at all of the different conversations taking place around him. “The associates in the store and how excited they get to see good things happen…To see the positive nature in everybody and to see things going well within our organization since August has been very rewarding.”
Strack added, “I also love seeing the customers. I love finding ways to help them. We want to provide everyone a great shopping experience, and we challenge our team every day to think of different ways we can achieve that for our customers.”
Judging by today’s event, everyone behind the Portage Strack & Van Til is off to a great start.


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Drake effectively broke the internet with his very meme-able Certified Lover Boy album cover back in August. Well, he’s about to do it again. But this time, it’s British artist Damien Hirst who’s going to be at the wheel as he is about to hand out 10,000 free NFT copies of his iconic grid of pregnant women.
Coming as a surprise gift, the announcement went live through the Bristol-born’s personal Instagram. Titled “Great Expectations,” the series is based on the Certified Lover Boy’s cover and will be playing with the initial colours and emojis used, to give birth to a rich set of unique iterations of the now new piece of digital art.
“I wanted it to say everything and nothing at the same time. To be something for everyone. A thing to talk about, that you can’t ignore. An NFT that could communicate to people who haven’t been born yet what it’s like for us to be living in the complicated world of today” the artist said on his Instagram” Hirst said in the caption.
Having conceived the project with “Drake’s support and blessing”, the variations of the cover were, according to Decrypt, sent out for free on the sole condition of having already purchased one of Damien Hirst’s earlier NFT drops back in July called “The Currency”.


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Police say the motorcycle rear-ended an SUV on the Gulf Freeway near Edgebrook.
The motorcycle ended up on the feeder road, prompting the closure of all the northbound mainlanes and the feeder for several hours.
Investigators believe the motorcyclist was wearing a helmet, but was traveling too fast.
The driver of the SUV was not hurt.
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IN research 6300 electric cars of various brands from around the world took part. As a result, it turned out that on average the battery loses about 2.3 percent of the capacity each year of operation. The authors concluded that with such small losses, batteries can survive even the cars in which they are installed.
At the same time, experts from Geolab clearly demonstrated how much the degree and speed of wear depends on various cooling systems. For example, in the Tesla Model S, which uses a water cooling system, the battery lost only 2.3 percent of capacity in a year. At Nissan Leaf, which uses passive air cooling, this figure has already reached 4.2 percent annual loss.


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Yet for Toyota, uncertainty is good news, not bad. Oracular vision may be part of Toyota's success, but its real strength is that it has the financial resources (2007 profits: about $15 billion, more than GM's entire market capitalization of about $10 billion) to play many hands at once—and thus the luxury of waiting until the last minute to decide which are the surest bets. That has helped Toyota guess right more than most of its competitors—and provided a hedging strategy to fall back on when it guesses wrong.
Toyota's lead on hybrids, for instance, is an obvious advantage in a world of $4 gas. But it's almost an accidental success. Even Toyota had doubts about the Prius when it debuted, giving it a meager U.S. sales goal of just 15,000 in its first year. That's why Toyota was working up plans for a beastly new Tundra at the same time and enlarging—not shrinking—other popular vehicles like the Highlander SUV and the Camry sedan. Gas was cheap, after all, and big cars like the majestic Chrysler 300 were an affordable luxury. The Detroit Three were making a profit of $15,000 or more apiece on some of their largest vehicles.
Now, as the market for big cars collapses again as it did in the 1970s, Detroit is scrambling for a backup plan. GM just announced that it's closing four plants that produce big trucks and SUVs, part of a permanent about-face toward smaller vehicles. It may even sell the rough-and-ready Hummer brand. Toyota is taking some lumps, too, with a projected 27 percent drop in profit in the coming year, mostly because of a flagging U.S. economy. But Toyota also has a ready stable of right-size vehicles, like the Corolla and RAV4, and the budget Scion lineup, that have already helped push the company's U.S. market share to about 18 percent, a record high. That's just 2 percentage points behind leader GM.
Hybrids are still a relatively small portion of Toyota's portfolio—but the biggest opportunity to break away from the pack. Hybrids get better mileage than conventional cars because they have both a gas engine and a battery-powered motor, with computers that toggle between the two in the most efficient manner. Some hybrids, like the Prius, are tuned for maximum gas mileage, while others, like Toyota's Lexus rx400h, are speedy performance cars with gas mileage that's just a notch higher than that of conventional competitors.
Virtually all the big automakers now offer one or two hybrids, with plans for more. Toyota plans to roll out more hybrids, too, but it's also weighing snazzy new features to maintain its dominance in the sector. "We want to extend the 'wow' of the hybrid," says O'Brien, the company's top product planner. One likely feature of the next-generation Prius, due next year, is a dashboard button that allows the driver to run the gas-electric powertrain purely on battery power—perhaps for a couple of miles of driving—before the batteries hit a depletion point and the gas engine kicks back in. That's just the kind of feature that appeals to "hypermilers" who compete to see who can get the best mileage out of their hybrids.
Beyond hybrids, the race is on for new alternatives to gas engines that can be mass-produced. And every automaker craves the rewards that would come with finding solutions to America's dependence on foreign oil. The next step in that direction will most likely be a "plug-in" hybrid with batteries that will be rechargeable from an ordinary power outlet at home. On current hybrids, the batteries draw recharging power mainly from the gas engine—and gas, of course, is expensive. Power drawn from the electrical grid could cost the equivalent of $1 per gallon—and plug-ins could also go further on a charge than today's hybrids.
The stakes are huge: The automaker that seizes the plug-in market could dominate for years. And already GM has targeted the pole position on plug-ins, with the Chevrolet Volt, due in 2010. It wasn't long ago that executives at GM pooh-poohed hybrids as overcomplicated technology that was too expensive for ordinary consumers. Toyota clearly proved otherwise, which a humbler GM now admits. "Ever since Toyota assumed the mantle of technology leader," says GM Vice Chairman Bob Lutz, "there's been a certain class of buyer who wants to be associated with the best technology. In that sense, every Toyota has a little bit of Prius in it."


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The Sony Ericsson XPERIA Play scores a video review
The Sony Ericsson XPERIA Play will be powered by a second generation Qualcomm MSM8655 1GHz chip. Loaded with 512MB and 1GHz of ROM, the device is expected to have a 4 inch display. A microSD slot will replace the Memory Stick for expandable storage and the phone will be the first to allow access to the Sony Marketplace where games can be bought for the new Android 2.3 OS, which reminds us that Sony Ericsson customers won't have to wait for an update to have the latest Android software. The XPERIA Play will be loaded with Gingerbread out of the box.
Check out the latest video review of the Sony Ericsson XPERIA Play from a Taiwanese web site. Grab your English-Chinese dictionary. For serious game players,a tough decision will have to be made between this handset and some of the dual-core speed that is also heading to carriers soon. As we reported, the device is expected to launch in March with additional details coming at the MWC next month in Barcelona.
Speaking of the MWC, we will be there bringing you hands-on reports about you favorite handsets and tablets, and perhaps we will be able to get our hands on (pun intended) the Sony Ericsson XPERIA Play.
source: eprice (translated) via Pocketnow


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Google Glass may still only be in pre-consumer phase, but Recon Instruments
has found time to launch the fourth generation of its own head-up display system, the Snow2 sports wearable. Fitting into existing goggles from brands like Oakley, Scott, and Alpina, the Recon Snow2 triples the performance of its predecessor thanks to a new 1GHz dualcore Cortex A9 processor, while battery life increases by more than a third. Borrowing the same display as the Jet
, Snow2 delivers extreme-sports information like speed, jump airtime, and navigation.


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Adweek's annual #Brandweek summit will explore the ideas behind breakthrough successes, discuss solutions to pressing challenges and explore new opportunities in the Metaverse. Join leaders from Alo Yoga, Hyundai Motor America, Frito-Lay and more, Sept. 12–16 in Miami. Sign up early to save.
The New York office of Wieden + Kennedy is turning the key on a new era for Ford in its first campaign for the automaker.
The agency was tapped to lead Ford’s fall campaign in August, while its global creative review was still going on. While BBDO was named global lead creative agency in that review, Ford is opting for a multiagency model with W+K officially serving as its innovation partner on select projects.


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MUMBAI: Resort Condominium International (RCI), which has a major presence in vacation ownership market, will soon segment the Indian holiday market into different categories such as sports, pilgrim, heritage, wildlife, health resorts and leisure. Favourite holiday destinations have historically been the hills and the coastal beaches. RCI is now adding options as it is increasingly catering to the domestic traveller as well as the foreign tourist.
According to RCI, as on March '03, they had 60% Indians and 40% foreigners looking for exchanges in India. Until two years ago, the ratio was 70% Indians and 30% foreigners. In an interview with ET, Kenneth N May, President and Ceo, RCI, (global operations), said, "There is need to expand our reach in the Indian market and add a lot more resorts across different destinations here to give our customers a wide range of choices. RCI in India has 50,000 members, it is targeting 500,000 members over a five year period. For RCI, one of the ways to achieve this number is by offering a low cost vacation ownership product valued at Rs 1,00,000. At present, RCI in India has only high cost products and premium and super deluxe resorts and five star hotels in its portfolio."


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The Empire State Manufacturing Survey “indicates that conditions for New York manufacturers weakened in September,” the Federal Reserve Bank of New York reported yesterday. The general business conditions index reversed into negative territory, declining to negative 7.41 in September from positive 2.77 in August.
Economists surveyed by IFR Markets had expected the index would be positive 0.50.
The new orders index reversed to positive 4.38 from negative 2.20, while the shipments index rose to positive 0.64 from negative 0.86, and unfilled orders narrowed to negative 3.45 from negative 8.99.
The delivery time index decreased to negative 4.60 from negative 3.37, while the inventories index reversed to negative 2.30 from positive 5.62 in the prior survey. The prices paid index fell to 44.83 from 65.17, while the prices received index dipped to 24.14 from 32.58. The number of employees index decreased to negative 4.60 from negative 4.49, and the average employee workweek index fell to negative 5.75 from positive 1.12, the Fed reported.
Looking six months into the future, the general business conditions index grew to 43.11 from 34.58 last month. The new orders index dipped to 46.27 from 47.29, while the shipments index jumped to 49.51 from 45.37, and unfilled orders declined to 0.44 from 7.79, the Fed said. The delivery time index narrowed to negative 2.30 from negative 8.99, and the inventories index slipped to zero from positive 3.37 in the prior survey.
The prices paid index dipped to 48.28 from 69.66, and the prices received index decreased to 42.53 from 52.81. The number of employees index rose to 18.82 from 14.71, while the average employee workweek index slipped to 4.60 from 6.74. The capital expenditures expectations index rose to 16.09 from 14.61. The technology spending index nearly tripled to 14.94 from 5.62.


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Episode 69: It’s time for return of the WTR, Money in Silicon, New Chips, Huawei leaks, Meta gets another telling off, TikTok food?, Apple plans for end of the sim card
Welcome back to the WTR as Karl and I discuss the latest tech news, gadgets, games, & films!
We are available on Apple and Spotify Podcasts, Anchor and via all good podcast sources!
This week we covered:
- TSMC client list shows Apple makes up a quarter of its revenue
- Apple and Google accused of duopoly, could face antitrust action in the UK
- Meta reportedly facing FTC probe over its acquisition of VR workout app ‘Supernatural’
- Leaked documents link Huawei to China’s domestic spying in Xinjiang
- Tencent is acquiring Back 4 Blood developer Turtle Rock Studios
- IBM and Samsung say their new chip design could lead to week-long battery life on phones
- Samsung teases Exynos 2200 with AMD’s RDNA 2 graphics coming January 11th
- TikTok is launching delivery-only restaurants across the US in March….Say what now!
As always, we’d love to hear your comments
Find us on Twitter @WeeklyTechRant


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HSBC/Mauritius27 Mar 2012
HSBC reveals talks over divestiture of assets in Mauritius
HSBC said on Monday that it is in talks over a possible sale of its retail-banking and wealth-management businesses in Mauritius, in its latest move to slim down its global operations to maximise profitability.
The UK lender said in a statement that the discussions may or may not lead to a transaction, without giving any indication of the potential buyer. It said that it remains committed to the Indian Ocean island nation and that it continues to invest to expand its investment-banking and commercial-banking operations there.
Comment: HSBC's move to consider selling its 11-strong retail branch network in the sun-kissed holiday island of Mauritius might yet prove to be a shade short-sighted. The business might be small, but if Africa ever gets its act together, the stable and relatively prosperous island will have a big role to play.


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- Products & Services
- Knowledge Base
ST. LOUIS, MO, July 13, 2016 /24-7PressRelease/ -- Dogtown Pizza, a local frozen pizza company, is proud to announce that they have created a pizza like no other for a very limited time.
Beginning Mon., July 11, patrons can find Dogtown Pizza's very first limited edition Dogtown Pizza variety, which features pepperoni, pepperoncini with red pepper, and parmesan cheese. These pizzas are available in all of the major grocery stores in St. Louis and will go on sale any time Dogtown Pizza is on sale as well.
The pizza company will only be making 10,000 of these limited edition pizzas.
"Once these pizzas are gone, they're gone!" said Rick Schaper, owner of Dogtown Pizza.
This announcement comes on the heels of a major milestone that happened at Dogtown Pizza just a few months ago - the installation of a new flash freezer, which streamlines the company's pizza-freezing process.
"We are very excited about creating and releasing our very first limited edition pizza," Schaper said. "We plan on having another limited edition variety of pizza in the fall. At the moment, the variety is undecided, but we guarantee that it will be delicious!"
Dogtown Pizza has been serving handmade frozen pizzas made of the highest quality of ingredients from local suppliers since 2006. Starting out in Schaper's kitchen, Dogtown Pizza has turned into a business that employs more than 20 people and has 11 different varieties of frozen pizza stocked in every major St. Louis grocery store, including Target. Their commitment to community, family, and local businesses has remained top priority for the company as they have forged partnerships with some of St. Louis' best businesses.
For more information, please visit Dogtown Pizza online at http://www.dogtownpizza.com.
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China Q&A Site Zhihu Is Said to Mull Hong Kong IPO: Paper
(Bloomberg) -- Chinese question-and-answer website Zhihu Inc., which went public in the U.S. in March this year, is said to be considering another initial public offering in Hong Kong, local media the Paper reported Saturday.
The Beijing-based company plans to submit documents for its share offerings in Hong Kong in January, the Paper reported, citing unidentified people.
The report cited public registry records as showing that some of Zhihu’s major shareholders, including a firm associated with Tencent Holdings Ltd, have pulled out, leaving Chief Executive Officer Zhou Yuan with a 99.3% holding in the company, while Chief Technology Officer Li Dahai owns the remaining stake.
Zhihu told the Paper an ownership change is standard practice for Chinese companies that list overseas, and the major shareholders and their stakes in the company are unchanged.
Zhihu shares have tumbled 44% following the company’s IPO on the New York Stock Exchange in late March. Earlier this week, Beijing’s internet regulator also summoned the website operator for publishing and transferring information that is banned. The company vowed to suspend related functions while it rectifies the problem.
China Regulator Probes Q&A Site Zhihu for Possible Fines
Beijing is tightening scrutiny of domestic firms’ overseas share sales amid concern that these listings could pose national security threats if companies held sensitive data. China’s security watchdog on Friday said all Chinese businesses planning IPOs and additional share sales abroad would have to seek the approvaal of the China Securities Regulatory Commission.
©2021 Bloomberg L.P.


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The looming Trans-Pacific Partnership (TPP) is potentially the biggest so-called "free trade" agreement in the world. And you've probably never heard about it.
TPP negotiations are being held in secret. Right now. Behind closed doors. Even the U.S. Congress, which is granted sole authority under the Constitution to debate and approve trade deals, has been cut out. But big business has a giant seat at the negotiating table.
And Congress is inching toward considering approval of the trade deal on a straight, up-or-down vote. If that happens, lawmakers would be giving away their ability to amend the agreement once negotiators, with the heavy-handed influence of corporations, agree to it. Approval of "fast-track" authority would also limit debate on the deal and keep many of its details shrouded in secrecy until it is too late.
There's a lot to lose under fast track. American jobs could be put at risk and shipped overseas to nations such as Vietnam, which pays its workers unfair wages to toil in unsafe factories. Recently, 167 House members sent a letter to the Obama administration asking that it ensure provisions be put in place to protect textile workers. Similar concerns extend across many sectors, including for some 30,000 Teamster-represented dairy workers.
But if Congress approves fast-track authority, these issues may not even be debated. Even if they do, no changes would be allowed in the trade agreement's language. Lawmakers would have to decide whether to vote "yes" or "no" on a trade deal that's probably flawed but can't be fixed.
Fast track ties the hands of elected officials. Members of Congress couldn't amend TPP language, which would cause all kinds of problems. It could endanger American food and consumer safety, undermine labor rules, eliminate Buy American provisions, weaken environmental protections and even restrict the freedom of the Internet.
We can't allow this agreement to be rammed through Congress with an up-or-down vote. No one doubts the value of fair trade, but it's not fair if it puts American workers at a disadvantage and American consumers at risk. This treaty needs to be fully vetted for its impact on our families and not rubber-stamped as a partnership between big corporations and big profits, crafted in secret.
It's already tougher today for working and middle-class families to stay afloat than it was just a few short years ago. Millions of good jobs have been exported over the past two decades because of bad trade deals such as NAFTA, CAFTA and PNTR. It's no accident that the average American family's income has fallen over that period as politicians of both parties signed similar deals that trade U.S. jobs and safety standards for bigger corporate profits.
Let's not make the same mistake again. Lawmakers need to do their job and take a good look at this secretive trade deal rather than rush it through without full inspection. A quick up or down vote will not give the TPP the scrutiny it needs. U.S. workers and industries deserve better. It's time we gave it to them.


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Apple announced on Thursday their latest play to dominate the education market. From its inception, Apple has been focused on education as a market. They have consistently provided special discounts to educators and students, and they have developed a series of education-friendly applications and products.
Within iTunes, Apple has long
Continue reading “iBooks Author and iTunes U”


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Yes... released early enough to make sure all investors are handily screwed yet again. They are nailing their coffin shut with the handling of the news.
Sorry dud... and no, didn't forget the "e"... Only one HR trade recorded... 16:07 $ 26.5592 High 7,650
OMG!!! Can you believe SOMEONE WAS ABLE TO SELL 285,309 SHARES... WOW... Someone wants out BAD!!!
Who would put their neck on the line upgrading a company that is current at a minimum under suspicion of overstating their sales/value. We already know Chinese companies like Alibaba use Fake Sales, why wouldn't VIPS do the same thing?
Clearly you are just making things up... there is a long list of Chinese companies trading on foreign markets that have fallen hard... NQ mobile one of the most notable.
I doubt SEC moves on a report from someone using a pseudonym posted to Seeking Alpha just ahead of an earnings release with no more intent than to materially harm the company's stock price.
OH! You mean the short seller that has lost millions now for his clients being short VIPS for over a year. Yeah...
VIPS is UP 133% since he initiated his short position.


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Walkers have slashed the number of bags of crisps in its multipacks but the price has stayed the same.
The popular variety bag will still cost £3.50 despite now having 22 bags instead of 24.
Previous multipacks contained six salt and vinegar packs, six cheese and onion, six ready salted and six prawn cocktail.
But now one pack of salt and vinegar and one prawn cocktail have been removed.
Smiths’ Frazzles and Chipsticks now have six packs instead of eight but are still £1.
Packs of KP’s Space Raiders have also gone from eight to six but have also kept its £1 price.
Each bag has increased in weight by 1.2g but the multipack is still 16g lighter.
Roysters T-bone steak-flavoured bubble chips now have five bags instead of six but the £1 price remains the same.
Oli Townsend, from Money Saving Expert, has warned consumers to look out for ‘shrinkflation’.
He said: “When products get smaller but prices stay the same, shoppers rightly feel short-changed.
“If your favourite brand has got smaller but the price hasn’t, consider ‘downshifting’ by dropping one brand level from your usual choice — if you can’t tell the difference, stick with the cheaper one.”
Walkers, Smiths and KP Snacks did not comment when contacted by The Sun.
Last week Money Saving Expert’s Martin Lewis told shoppers how they can save £5 by buying a £1 pack of Walkers Taste Icons crisps.
Martin explained: “If you buy a £1 bag of these Walkers Taste Icons crisps, then there’s a QR code on the back that you can go online and it gives you £5 off when you spend £20 or more at local restaurants and takeaways.
“You can redeem on food or soft drinks so it’s a good way to support your local food emporium.”


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2022 has been a tumultuous year for the startup ecosystem so far. Where on one hand, we've gone from being accustomed to seeing a new startup join the coveted unicorn club every so often in 2021 to coming to terms with devastating layoffs, on the other hand, there have been some success stories in the form of Physics Wallah, Fractal.AI, LeadSquared and Darwinbox among others. The startup space, notorious for its volatility and sharp ebbs and flows, warrants a closer look. Hence, we'd like to narrow down our scope, and throw the spotlight on key developments that happened this month.
While the huge trough that startups have hit might not be a shocker to most of us. An article on Crunchbase News titled, 'Have Valuations Really Fallen Off a Cliff in 2022?' provides a deeper insight into global funding, valuations, market sentiment and more. It's really a 'one man's trash is another man's treasure situation'.
Given that global funding has slowed since March (-14% MoM), and the public market downturn stretched into the second quarter, contrary to the gold rush last year, founders have reported difficulties in raising funding for their startups. However, an environment characterized by low prices and less competitive funding rounds might actually be better for investors. Aside from the obvious monetary benefit, investors can now buy more time for due diligence and background checks.
But this still begs the question: How severe is the downturn really? You might be surprised to know that the startup "winter" isn't as chilly as one might make it to be. And, Crunchbase has provided statistics to prove the same.
Amounts are on par for each fiscal half-year since 2021, averaging between $88 million and $89.5 million. These rounds are up from the $62.8 million 2020 average.
For now, companies that have announced their Series A, B and C funding in H1 2022 have not shown a serious dip from the peak of 2021.
Check out this infographic (data as of 23rd June 2022) to analyze how U.S. Series A to C funding in H1 2022 have fared when compared H1 18 through H2 2021.
Disclaimer: Not a "startup" trend, or even a trend, as such, but it is still worth noting as it pertains to all equity investors.
As reported on 8th June 2022 by The Economic Times, The Reserve Bank of India (RBI) hiked policy rates by 50 basis points to 4.90 per cent in its bi-monthly meeting.
The rate hike will entail – (a) increase in bank interest rates (b) companies having to shell out more to raise money from banks and markets compared to earlier.
The primary motive behind the rate hike is to dampen the impact of the ever-increasing inflation and bring it down below the pre-pandemic tolerance levels. Even though the markets turned positive, and the 10-year bond yields went down and even turned negative, Sujan Hajra, Chief Economist and Executive Director at Anand Rathi Shares & Stock Brokers. cautioned that the higher than expected rate hike might have some negative influence on equity and bond markets.
Now, one might wonder what angel investors have to do with any of this, considering ET's strong focus on BFSI and consumer markets in the article. Angel investors, being both high net-worth individuals (HNIs) and a form of equity investors, invest in high-risk companies. So, it makes sense for them to require a rate of return significantly higher than that of RBI's policy interest rates. Theoretically, the Capital Asset Pricing Model (CAPM) might explain the kind of rates they would be looking for with respect to the risk-free rate (impacted by the Central Bank/Fed), market risk premium (risk above investing in risk-free assets) and market beta, among other quantitative and qualitative factors.
An anomaly in the chaotic startup ecosystem, Alakh Pandey and Prateek Maheshwari led EdTech platform stood out as a dark horse on 8th June 2022. The startup became India’s 101st unicorn after raising $100 Mn (INR. 777 crores) in a Series A round from WestBridge and GSV Ventures, at a valuation of $1.1 Bn. Post obtaining the unicorn status, PW now aims to build offline centres, having already instituted 20 centres in 18 cities so far.
Just a few days after PW's success story, this Mumbai-based online beauty retailer became India’s 102nd unicorn after raising $33 Mn in a Series E funding round, at a valuation of $1.1 Bn. Purplle has raised a total of $215 Mn so far. Though still a loss-making company (net loss: INR 51.27 Cr in FY21), it is targeting an annualised Gross Merchandise Value (GMV) rate of $180 Mn in FY22.
India's 103rd unicorn became the first of its kind to bag the title without any VC funding, as reported by Forbes India on 21st June 2022. Led by WestBridge Capital, the success story of the Sales Automation SaaS platform offers a boost of optimism to angel investors and PE investors. With $153 million raised in the Series C round, it is now looking to double its revenues in FY23, and double down on investments in India and North America. Nilesh Patel, the co-founder and CEO of LeadSquared, also hopes to expand its operations to Asia Pacific (APAC) and Europe, Middle East and Africa (EMEA) to embellish its product portfolio, fund its acquisition plans and increase its customer base by 70%-80%.
Emphasizing the role of angel investors, Patel said, “We are probably one of the few companies that managed to raise Rs 17 crore from angels," underlining that the company never faced a capital crunch. The next step could entail launching an IPO, but the primary focus, as of now, is on growing the startup.
With Sequoia-backed Aqgromalin and crypto-exchange Valud laying off 30% of their staff each; Polygenius and Klarna losing 25% and 30% of their valuation respectively; and Stripe holding off its IPO launch, it is no secret the global economic downturn has threatened FinTech growth. However, speaking from an Indian perspective, it's not just valuations or layoffs or IPO delays but the new RBI policies that have proved to be an impediment to the progress of the industry. Angel investors should not keep abreast of the new developments, but be wary of the same as well.
Even though promising and established startups have helped bridge the unequal access to credit in India, which is exactly why UPI and BNPL models have garnered immense popularity, the absence of real revenue from e-payments or neo-banking has always been a cause of concern to the RBI due to the looming danger of a debt trap for consumers and merchants, who can now obtain credit without robust risk assessment mechanisms. Additionally, RBI fears the issuance of credit to a “less deserving population” as per the new credit guidelines.
To solidify its stance on the questionable business models of FinTech companies, the RBI issued a notification prohibiting non-banking companies to load prepaid instruments — digital wallets or stored-value cards — using credit lines. In layman terms, the RBI is not a fan of the "buy now, pay later" shtick. This move has sent the FinTech industry into a tizzy due to the lack of clarity on whether they fall under the ambit of the new guidelines, and the inevitable dampener on the industry's momentum should the notification apply.
Given the 30% tax on income from crypto; 1% TDS on crypto asset transactions; and the fact that BNPL provider Sezzle had to exit from the Indian market, the industry has suffered from several blows this year. Many people have opined that adequate leeway should be given to new-age financial services companies to provide innovative products and services to end consumers and deliver value.
So, what's next? It's difficult to say how much credit will dry up, if at all, due to the lack of data via UPI or BNPL route. In fact, some have deemed it a welcome change. Ashok Hariharan, founder and CEO of IDfy; and Bhaskar Chatterjee, VP, Product Management of EzeTap claimed that RBI's decision would help bridge the trust gap between FinTech companies and customers. Moreover, the industry can breathe a sigh of relief as RBI is working on Payment Vision 2025, with an aim to increase the number of digital payment transactions by more than 3X by 2025. The glory days of the 50+ billion industry aren't quite over yet.
Is the market grim? Sure. Is the funding winter still prevalent? Also, yes. There are undeniably more than a few causes of concern with the way the start-up ecosystem is headed (layoffs, increase in policy rates to stymie inflation, falling valuations, you get the gist). However, we can't discount the success stories in the form of PhysicsWallah or LeadSquared, or the encouraging statistics that Crunchbase has left for investors. Having said this, the negative market sentiment will surely persist for months to come, maybe more, maybe less. But perhaps, in the midst of this doom and gloom, even more surprising success stories, underdogs and dark horses will emerge to assuage the fears of entrepreneurs and investors alike.
Our advice to readers: Be cautiously optimistic.
Credits: Tarun Singh for illustrations


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Potato acreage in northwestern Europe increased around 0.5 per cent this year compared to last, a July 7 news release from the North-Western European Potato Growers (NEPG) says.
“Under the actual circumstances, this is considered as too much, however, the COVID-19 situation arrived at the moment that growers already ordered their seed potatoes and rented potato land, too late for an area reduction,” the release says.
Increases mostly happened in Germany and France where processing potatoes were able to be transferred over the fresh market. Meanwhile Great Britain stuck to it’s five-year average for potato acres.
“The NEPG stresses that it is always the yield and not the area that makes the volume of the upcoming harvest and it is still too early to estimate these yields. The dry conditions at the start of the crop cycle may well have already limited the potential available.”
The first part of the growing season has been dry across north western Europe with yields of early harvested potatoes in Germany lower than usual.
There is still concerns about how the COVID-19 pandemic will affect the potato market long term, the release notes. It is expected growers will have to store potatoes longer, however CIPC is now banned in Europe making storage harder.
NEPG expects to have a first crop estimation in early September.


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- 2 min read
Restaurants, hotels in Jaipur optimistic about revival in demand
Over the past seven weeks when the hotels, restaurants, were malls allowed to restart their business on June, there has been some improvement in demand
With the night curfew being lifted, and restrictions on inter-state removed, the tourism and hospitality industry that contributes 23% to the state’s GDP, is optimistic that demand will start to improve in the coming weeks and months.
Over the past seven weeks when the hotels, restaurants, were malls allowed to restart their business on June, there has been some improvement in demand, as per the industry. But they admitted that it has been a slow process as the number of new Covid cases keeps rising and the fear factor continues to be a reason for families not coming out.
“We have been witnessing an uptick in demand and interestingly, we are getting repeat customers. This is a good sign. The night curfew restricted choices of people but now that is gone, we think, things will be only better from now onwards,” said Rajesh Rajpurohit, general manager of a leading star hotel. Purohit said that as activities were allowed to reopen after the lockdown, the people have also come out for doing their work. “The fear factor has certainly reduced. But now the onus is on the hotels and restaurants to provide the safety through strict implementation of SOPs,” added Rajpurohit.
For restaurants, kitty parties and birthday celebration a big segment. Also college students contribute to their sales. Aziz Panwar, owner of a new-age restaurant said, “Removing the night curfew is good but will not impact our business in a meaningful way. Families are still reluctant to dine out. With colleges remaining closed, we are losing out a good source of business. No kitty parties or birthday celebrations are happening.” All admit that as soon as the caseload starts falling, there will be a sharp pick-up in demand and people will be less fearful to come out for dining.


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Global diamond industry is facing numerous issues and going through a bad phase. Lab-grown diamonds with its unique value proposition can actually complement mined diamonds, address industry’s pain points and help capture the potential.
Growing acceptance of Lab-grown diamonds
Lab-grown diamonds have steadily found growing acceptance with consumers and some industry players alike. Millennials have started to romance Lab-grown diamonds like never before. Several jewelry retailers are now selling Lab-grown diamonds along with their existing mined diamonds portfolio and have shown the way of how Lab-grown diamonds can not only co-exist with but also complement mined diamonds. By targeting specific consumer segments, educating consumers, branding and marketing them separately and ensuring that Lab-grown diamonds do not substitute mined diamonds, adoption of Lab-grown diamonds along with the mined diamonds by retailers is a success story in the making.
Similar story as cultured pearls
When cultured pearls were introduced in the industry, natural pearls manufacturers had huge apprehensions. But the unique positioning of cultured pearls not only enabled it to coexist with the natural pearls but also helped the latter to increase its value.
Being considered as a threat, Lab-grown diamonds are ignored and neglected by the industry. Instead of getting threatened and downplaying Lab-grown diamonds, industry should consider them as a viable alternate choice for consumers. By getting together and charting a plan of action, industry can successfully adopt Lab-grown diamonds that can coexist with mined diamonds in perfect symbiosis, as illustrated by some jewelry retailers. Similar story of cultured pearls is the case with Lab-grown diamonds, which can help mined diamonds regain its glory and help the ailing diamond industry.
How lab-grown diamonds can help the industry and consumers
Production of rough diamonds have fallen from 177 million carats in 2005 to just 127 million carats in 2015. In 2013-14 itself, there was a 4% drop in global rough production. 30 major diamond mines will reach their End of Life by 2030 and rough production will fall by 50+ % by then, indicating that mined diamonds may run out sooner than one thinks. Adopting lab-grown diamonds will ensure that the falling diamond supplies are arrested and more diamonds are available for trading and sale, thus addressing a possible 278 million carats Demand-Supply gap by 2050.
Profitability across the entire value chain has either declined or at best remained stagnant in 2015. Diamond manufacturers (Cutting and Polishing sector) are the worst hit with profit margins shrinking to 0 – 3% and expected to fall further. Some of the mid-segment units are even operating at 5% losses. Owing to its low cost structure (being 30 – 80% cheaper), Lab-grown diamonds can help in increasing the industry’s profitability.
Due to uncertain supplies, changing trading dynamics and distribution companies’ practices among other reasons, diamond industry has seen high volatility and fluctuations making prices almost unpredictable.
By ensuring consistent supplies and smooth & fair practices, Lab-grown diamonds can help decrease volatility and reduce price fluctuations.
Regaining lost position in the luxury goods market
While, global luxury sales are increasing, jewelry no longer figures in people’s top wish list. A De Beers Insights report mentioned that jewelry was not in the Top 5 gift list of US women. Holiday, Electronics, Home furnishings, Spa ranked ahead of jewelry. Even among the youth (18 – 34 years), designer handbags and clothing takes precedence. As a post quoted “iPhones are the new way to say I love you”.
By giving timely choices and options to consumers, increasing awareness and marketing, Lab-grown diamonds can help the industry to re-attract and retain the consumers and regain diamond’s dominant position in the luxury goods segment.
Catering to rising aspirations
Despite the current slump, diamond jewelry growth is projected to be fueled by growth of middle-class in China and India. With its attractive pricing and unique proposition, Lab-grown diamonds can help cater to the rising demand from the emerging economies and help fulfill their youth’s aspirations.
Contributing to CSR and increasing industry’s image in social domain
Mined diamond industry is tainted with numerous curses including high environmental impact, human atrocities like child labor, slavery, dangerous working conditions, low wages etc., conflict diamonds, malpractices and frauds etc. Today’s consumers especially millennials are ethically and socially conscious.
Being environment friendly, 100% conflict-free and socially responsible, Lab-grown diamonds can help the industry to increase its respect and value in the social domain. By ensuring good practices for not only profits but people and planet, Lab-grown diamonds can help the industry in its contribution towards CSR.
Ensuring level-playing field for the industry
Big diamond miners have historically controlled the production and supply of diamonds and exerted their clout to marginalize and suppress other players in the industry. Lab-grown diamonds can help bring a level playing field in the industry, ensuring that smaller players are not repressed by some monopolizing companies.
Increasing consumer interest
By spreading awareness and giving true and factual information, Lab-grown diamonds can help to increase consumer’s interest in diamonds, thus benefiting the industry as a whole.
Adding a new complementary product in the portfolio
By adopting Lab-grown diamonds, industry will be adding a new complementary product in its portfolio, thus giving fillip to its innovation ambitions, and renewing its stagnating portfolio. Such an addition will only evince more enthusiasm and excitement among consumers and the industry.
Diamond industry, in its current form, is in a downward spiral, with humongous complexities and issues marring it. Lab-grown diamonds presents an opportunity of plenty value available to be shared in the pipeline, not only giving a panacea to industry’s problems but also helping it to go to a higher growth trajectory.