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Time is almost up. With no answers in sight, logistics operators are hoping for the best, but planning for the worst
The etymology of the word ‘logistics’ could hardly be more apt right now. Its origins lie in a branch of 19th century French military science, dedicated to how best to co-ordinate all the moving parts required for battle. And heading into arguably the most complex challenge British logistics has ever faced - the possibility of a no-deal Brexit - fmcg operators are returning to their roots, adopting a siege mentality as they prepare for political war.
Planning for the worst-case scenario is undoubtedly prudent. Though parliament has voted to reject a no-deal exit and extend Article 50, crashing out of the EU next week remains, at the time of writing, the default legal position and therefore still entirely possible. It’s an ongoing uncertainty that will serve as the ultimate test of the supply chain’s agility and resilience.
But if there is a profession best placed to navigate Brexit then surely it is logistics. Advanced planning and executing effective outcomes for tricky and otherwise impossible situations is the sector’s raison d’être.
“At this late stage, the most effective mitigating tool is adopting a ‘peak mindset’ to safeguard businesses against short-term losses and longer-term reputational damage,” says Paul Harvey, head of grocery at Newton.
“At this late stage, the most effective mitigating tool is to adopt a ‘peak mindset’ to safeguard businesses”
The responsibility to get it right is immense. With an annual turnover of £1tn, the logistics sector underpins all segments of economic activity and contributes over £121bn gross value added (GVA) to the UK economy - 11% of the UK non-financial business economy. Newton has calculated the UK grocery retail industry could suffer a £4.5bn revenue loss in the three months after a no-deal Brexit if adequate preparations aren’t in place.
One of the biggest brands in logistics, DHL, when approached for this article, initially replied that so hard-pressed was it with these preparations that it didn’t have time to discuss them beyond expressing its disappointment over the continued uncertainty. However, when pushed, a spokeswoman was a little more forthcoming:
“As a global business, Deutsche Post DHL Group is used to adapting to changing conditions in cross-border trade. Over the past 14 months, we have been working on various contingency plans and have made a number of investments to mitigate potential challenges.
“We are working closely with our customers, and remain fully committed to supporting their cross-border trade post-Brexit to minimise disruption where possible. We urgently need a resolution that will allow all businesses to move forward.”
Any resolution remains elusive, though, despite lobbying for clarity from the sector. “We have regular meetings with ministers and senior officials in Defra, DExEU, the Home Office, DfE and other departments, both individually and providing opportunities for members to speak directly to decision makers,” says Federation of Wholesale Distributors CEO James Bielby. “We are also part of the critical infrastructure no-deal planning group within Defra, which is working to ensure the food sector is ready as we approach 29 March.”
So far, though, these efforts appear in vain. “Our pleas for clarity have been constant - yet none has been forthcoming,” says Road Haulage Association CEO Richard Burnett. “We have strongly voiced our concerns to government, specifically to DfT minister Chris Grayling. But each time our concerns were met with the same response: that UK international hauliers had nothing to worry about.”
Indeed, a DfT spokesman told The Grocer that “contingency regulations which mean UK hauliers will continue to have access to the EU, whatever the outcome, are shortly to be agreed.
“While we do not expect there to be significant road traffic disruption outside Kent, we are working with the UK and EU haulage industry, Local Resilience Forums and port authorities to help them prepare for any potential impacts arising from Brexit.”
12 ways to prepare for a no-deal Brexit
1. Register for a UK Economic Operator Registration and Identification (EORI) number - a vital document required to submit customs declarations and/or safety and security declarations.
2. Decide whether you wish to use customs simplifications such as special procedures, transit or Authorised Economic Operation (AEO) accreditation.
3. Invest in software that interacts with HMRC’s systems if you want to submit declarations yourself.
4. Ensure that the entity responsible for transporting your products has secured appropriate market access. For road haulage, you should ensure the operator has applied for a valid ECMT permit.
5. If in doubt, get an agent to file your import and/or export, and safety and security declarations.
6. Ensure drivers with a UK driving licence have applied for an IDP (international driver permit) and have a valid passport with six-month validity, and that you have a ‘green card’ from your vehicle insurer.
7. Ensure that all your trailers are registered by 28 March 2019. This applies to all commercial-use trailers travelling internationally that weigh over 750kg in gross weight.
8. Take into account changes to rules of origin when calculating what tariffs might be due when exporting to third countries.
9. Factor in any tariffs and possible restrictions/quotas applying to products, source material, ingredients and parts, and check if duty or VAT is required and possible duty relief.
10. Be aware of any regulatory requirements for imports and exports of your products, parts and ingredients, especially agri-food products of animal origin for human or animal consumption.
11. Assess the impact of regulatory restrictions in terms of access points for agri-food products, and factor in possible border delays.
12. Encourage EU staff to apply for settled status as soon as the scheme opens on 30 March 2019.
A closer look at the journey of food and drink in and out of the UK demonstrates how important that preparation could be. Hauliers from the UK and the EU bloc are the supply chain’s workhorses and those most exposed to the immediate implications of a no-deal exit. Loaded with eight million units of freight annually, they criss-cross through the EU, currently free of hard borders or lengthy customs checks.
Even now, with the UK inside the customs union, the collective cargo produces 55 million pieces of required paperwork, including customs applications requirements, safety and security declarations, and food, animals, plants and other controlled goods certificates.
That will spiral to around 300 million declarations if the UK leaves the EU’s customs union without a deal.
Sarah Laouadi, the FTA’s European policy manager, says any increase in checks would cause huge disruption. “It can take 15 minutes to check just the ID and health certificates of one batch of goods in a single consignment. On top of these are customs requirements and checks of driving permits and so on. Depending on how strictly enforced all these checks are, your company can expect heavy delays at all the ports, even if all the required paperwork is in order,” she warns.
Laouadi cites the recent strike action at Calais, when French customs and health inspectors - protesting over post-Brexit working arrangement proposals - worked to rule, checking paperwork ‘to show’ how Brexit will likely gridlock the port and delay goods vehicles travelling to Britain. France’s CGT union official, Philippe Bollengier, warned that if and when the UK becomes a third country, checks will become even more in-depth.
“It was not an official dry run for Brexit, but it gave a good indication of what happens when just a few trucks are checked for some of the rules,” says Laouadi.
The Port of Dover warns that such is the level of traffic through its docks that a delay of only two minutes for each truck would create a 17-mile tailback. As a result, the RTA is advising members to take alternative cross-Channel routes to avoid where the heaviest disruption is expected. But, admits Laouadi, those ports might in turn struggle with capacity.
“There are so many things you have to think about - especially the capacity crunch. If you have had no previous experience of trading with non-EU countries and therefore with customs requirements, then you should get in touch with customs agents and outsource this part of their supply chain logistics,” she advises.
But there’s the rub, says Simply Supply Chain’s director Jonathan Kittow. “There are just a few customs experts available and able to advise on Brexit. Most companies will have to organise their own data requirements and understand the legal and practical implications themselves, because they are ultimately liable for an error in the documentation.”
Technology is being heralded by some as the panacea to cure all Brexit border ills. And it’s true that most, if not all, paperwork required to move goods between the EU and UK - from EORIs to MRNs - already exists online. The government has also announced transitional simplified procedures to make it easier for UK traders to comply with customs requirements, while HMRC intends to phase in entry summary declarations, ensuring that additional controls at the UK borders will not cause disruption.
But the scanners needed for true frictionless trade post-Brexit are not yet in place. In the first few months after the UK’s exit, paperwork checks will have to be waived, says customs and exercise expert Robert Hardy, operations director of food distributor at Oakland International. “Eighty five per cent of the trucks crossing the Channel are from the EU,” he says. “Are the French going to stop French cheese getting to the UK? No. And are the French authorities going to stop a French haulier getting to the UK? No,” he says. “They might politicise the border because of Brexit but that would be an act of self-harm to EU member countries. Why would you delay your own country’s exports? Why would you have your own country’s produce rotting in a lay-by in France or Spain or Italy?”
Fears of massive disruption are unfounded, and any hold-ups will be self-inflicted by logistic companies who have failed to get their paperwork accreditation up to speed, he asserts. “Any friction at the borders in a no-deal Brexit will be self-imposed. It will not be due to customs - it will be down to logistics companies not doing as they were advised,” he says.
The human component of the supply chain is another area that logistics companies must address. Fourteen per cent of HGV drivers, 12% of van drivers, 25% of warehouse workers and 19% of forklift drivers in the UK are EU nationals, according to the RTA.
But a so-called ‘Brexodus’ of European workers, sparked by the falling pound and uncertainly of residential and work status post-Brexit, has seen many EU workers leave the UK and fewer arrive. In Northern Ireland - in the political spotlight due to the backstop - the once-reliable supply of lorry and warehouse workers from the EU has all but dried up.
Latest figures from the country’s Department for Economy reveal there were 14,000 fewer EU nationals working in Northern Ireland by the end of March 2018, a 26% drop compared with prior to the referendum.
“We expect the drop to have worsened when new figures are released in the coming quarter,” says Christopher Morrow of Northern Ireland’s Chamber of Commerce.
Reassuring EU nationals
Talking to and reassuring EU staff is crucial to allay their fears, says Wincanton’s transformation and risk director, Marcos Hart. Wincanton is taking part in the EU Settlement Scheme public pilot and is providing staff with the information on how to successfully settle in the UK. “Fifteen per cent of our colleagues are EU nationals and our focus has been on ensuring they and their families feel supported and valued,” Hart explains.
Against this backdrop of both a looming labour gap and delays at the border, many of logistics’ biggest clients in food and drink have opted to stockpile supplies. “In the run-up to 29 March, wholesalers have ordered extra core products based on volume, assessed according to risk of availability and cost perspective, estimated tariff impact, and sales,” says the FWD’s Bielby. “There are between one and eight weeks of supply available, depending on the product, at a cost of millions in stock and storage.”
“Our focus has been on ensuring our EU national employees feel supported and valued”
Businesses need to be clear on their objective for stockpiling, though, advises Newton’s Harvey. “There will be a temptation to flood stores with stock, but it is always better to hold it in separate distribution centres. Retailers will typically pay 15% to 25% of the cost of the stock per year if products are kept in store. This approach also means they face additional labour costs as stock constantly needs to be moved around. Availability is affected as stock can get lost in the back room and staff struggle to replenish shelves and manage their stock file,” he adds.
It isn’t only food and drink being stocked up on, though. Wincanton has advance-modelled the company’s vehicle spare parts and consumables volumes for 2019/20, and “are close to completing the stockpiling of those items”, says Hart. “We maintain a significant fuel bunkering capability throughout the UK. Wincanton procures over 100 million litres of fuel per annum. In the event of any fuel supply constraints we will be able to use our contingency stocks,” he says.
Collaboration and transparency between all elements of the supply chain is essential as companies brace for no deal. “It is important that suppliers self-assess where issues are likely to arise, ensuring plans can be put in place to minimise disruption to supplies,” says Harvey. “Both sides being open during this period will lead to stronger relationships, which will last well beyond the immediate pressure. Retailers and manufacturers will then be able to fully understand their objectives and evaluate what is required to fulfil them.”
“Many of our clients are hanging out for a deal. Yet there are some things you can take control of and that is quite empowering”
Wincanton’s Hart agrees that dialogue with customers is crucial to minimise risk. “Our customers are dealing with unprecedented levels of uncertainty and we are staying close to them to ensure we manage that demand, regardless of what it looks like,” he says. “We stay close to our customers and are employing the same approach we do over the Christmas peak, when we see significant fluctuations in demand. So we’re treating Brexit in this type of ‘business as usual’ way, just over a longer period,” he adds.
Brian Kelly, a regulatory lawyer who heads up the food and beverage practice at international law firm Covington, says calls asking for advice on regulations have increased exponentially since the start of the month amid the unfolding political crisis.”It seems many of our clients and others in the industry are hanging out for a deal. Yet there are some things you can take control of and that is quite empowering,” he adds.
In the absence of facts and political visibility, those elements that can be controlled might be limited. But logistics is a sector that has built its reputation on finding a way through. And “in the absence of any political clarity, the supply chain has no choice but to continue to plan for the worst and hope for the best”, says Kittow. In other words, prepare for battle but pray for peace.
What is the EU Settlement Scheme?
A Home Office £3.75m advertising blitz encouraging EU nationals to secure post-Brexit residential status will be rolled out within the next few days. The online, broadcast, printed media and billboard campaign will appear “a few days before” the UK’s scheduled 29 March exit.
“The European settlement scheme will be fully launched on 30 March,” confirmed a Home Office spokesman.
More than 150,000 EU nationals had by the end of last month made an application during the pilot scheme, of which 135,000 had been concluded. Seventy-five per cent were granted settled status with the rest given pre-settled status, with none refused, the spokesman said.
Applicants are asked to prove their identity, prove they reside in the UK, declare any criminal convictions and upload a facial photograph.
Immigration officials then check employment and benefits data to confirm proof of residence.
Between 3.5 million and four million European Economic Area citizens are eligible for the scheme, and 1,500 caseworkers have been recruited to help cope with the expected application rush. The deadline for applying will be 30 June 2021 - or if the UK leaves the EU without a deal, 31 December 2020.
The online process has been designed to make the identification process easy and to avoid a ‘Windrush-type’ scandal, which involved wrongful detentions and deportations of some members of the Caribbean community. “We have already rolled out the employer toolkit, which has been sent out and is accessible online, so companies can help inform their employees,” said the HO spokesman.
The settlement scheme applies to EU citizens already residing in the UK, and is designed to be a quick and easy way to secure the rights they need to stay. “We’ve always been clear we want them to stay, and have made a unilateral offer whether there is a deal or no deal,” added the spokesman. The government’s Immigration White Paper proposes a 12-month temporary work visa to “fill up labour shortages until 2025”. Unlike the proposed Tier 2 work visas, which demand specific skills, employees under the temporary scheme will not require sponsorship from an employer.
However, some businesses claim the temporary scheme is restrictive and unappealing at best, because applicants would only be eligible to work in the UK for 12 months - during which they cannot bring any family members, switch visa routes or seek permanent settlement. After a year, migrants must then leave the UK and cannot return for 12 months.
While the requirements suit short-term and seasonal workers, for logistics and other supply chain businesses that rely on stable, reliable and skilled workers, the scheme is seen as falling short and will likely add costs from the constant recruitment and retraining of staff.
Where are the hotspots in the food and drink supply chain?
The UK’s second-largest ferry port in the UK after Dover, sees over 423,000 Ireland-bound lorries and trailers pass through the port on their way to Dublin, many of them heading to, or coming back from, the Continent. Almost 80% of Irish-registered HGVs heading for the EU pass through Welsh ports, the vast majority via Holyhead.
Twenty-six per cent of trade in goods between the UK and Continental Europe goes through the Channel Tunnel near Folkestone, representing a total value of £120bn per year. It takes 24 minutes to turn around a Eurotunnel freight train full of imports from Europe before it leaves full of lorries heading for the Continent - six trains an hour, 24 hours a day, seven days a week. Eurotunnel has seen major disruption during a French customs work-to-rule protest against post-Brexit wages and conditions recently.
Offers roro and lolo freight services to Northern Europe, Scandinavia, and the Baltic, and handles 16 million tonnes of roro freight per year.
Europe’s busiest roll-on roll-off ferry port, handling 2.6 million lorries in 2017 - up on the previous record by almost 10,000 units. Over half of what the UK eats comes via the port, as does up to 17% of the UK’s entire trade in goods, estimated at £122bn last year. There remains no substitutable capacity elsewhere in the UK to handle its trade volumes. The DfT intends to introduce ‘Project Brock’ to deal with lorry queues on roads to Dover for cross-Channel journeys in the event of any no deal disruptions, holding coast-bound lorries on the M20 so traffic not heading for the port can carry on moving.
5. Calais, 6. Dunkirk, 7. Zeebrugge
All served by Dover. Calais has seen major disruption during a recent French customs strike against post-Brexit wages and conditions. “Any disruption on the other side of the Channel is mirrored at UK ports within in a matter of hours,” says the British Ports Association.


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From the Coast to the Cotswolds – A new fresh identity for a fish and seafood brasserie in Lechlade, a modern, distinctive, and appealing look that reflects New Waves’ expertise and knowledge in preparing and cooking freshly caught fish and seafood. Tim Boyd who owns New Waves’ successful wholesale fresh fish business delivering fish to many of the UK’s top hotels and restaurants has always dreamed of opening his own restaurant. The new branding was taken across signage, uniforms, livery, and menus. This will also become the new branding for his fish and seafood market in Cirencester in the new year.
Allison Murray Design Brummells Barn Eastleach Gloucestershire GL7 3NG

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Guitar Hero publisher confirms: DJ Hero in the works
Not in the mood to become a Rock Star? How about a DJ? According to MTV News, Guitar Hero publisher, Activision Blizzard, is working on yet another spin-off of its best-selling game, a DJ-based music game called DJ Hero.
According to Kotaku, the game is
expected to hit stores this summer after being in development for two years. The controller will look like a simplified DJ Deck.
"There is a platter for scratching which will act like the strum toggle on a Guitar Hero guitar," the website explained. "Above the platter are three buttons for sampling. The controller also includes a cross fader and a sound effects dial which will act like the whammy bar in Guitar Hero."The screen layout for the game will differ from Guitar Hero. The musical notes will be positioned around a virtual record instead of flowing down the guitar. The controller is currently wireless, but the publisher is considering legs for the controller for easier play when standing up.
The only obstacle now between the game and its success is the licensing of the music for the mash-ups and playlists. Solving the licensing issues with the music industry has proven to be no easy task.
Got a news tip for Paste? E-mail email@example.com.


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Hasbro in expansion mode, targets 100 stores by March 2012
Chennai-based men’s apparel manufacturer Hasbro Clothing is in expansion mode. The clothing company plans to have 25 more stores by March 2012 and is targeting growth of 30 per cent this year. Hasbro is also eyeing new markets and is planning to increase the number of lifestyle accessories on offer.
Chennai-based men’s apparel manufacturer Hasbro Clothing is in expansion mode. The company has plans to increase the number of stores from 75 to 100 by the end of this fiscal. Hanif Sattar, Director, Hasbro Clothing, reveals, “Sales contribution from EBOs (exclusive brand outlets) will continue to grow at a faster rate than any other channel of revenue. Expansion of EBOs will be spread across existing and new markets. Currently, we have 80 stores in all the 4 southern states and in the west of India as well. We are also aggressive in expanding our MBO (multibrand outlets) business and LFOs (large format outlets) by partnering with the leading players in the country. Right now, the focus is also to grow the number of categories in men’s fashion and lifestyle accessories from the present 24 to 30 before end of 2012.” Presently, the company has over 400 multibrand outlets.
The firm is also going strong on the e-commerce front. Their portal offers an extensive range of collections for sale, many at discounted rates. Hanif points out, “Our retail brand Basics Life is probably the first private label website in the country which has started selling all the 3 brands of Hasbro - Basics 029, Genesis, and Probase - online. We consciously have a large discounted product mix of our product line from last season on our portal currently. However, this is changing very quickly as our ‘New Arrivals’ section has, by and large, fresh merchandise whose prices are at par with the prices that you would find at our stores (EBOs) or at any MBO. The revenue contribution from our e-commerce portal ‘BasicsLife.in’ alone is just 1% of our entire revenues. However, we are already in the process of growing it rapidly. The combined revenue from e-commerce, which includes sales of our fashion apparel on other MBO websites and our own Basics Life website, is in the vicinity of 5% of our total revenues.” The majority of the buying on their website comes from areas where they have a store presence and hence, most of the sales happen from south India.
The company’s growth rate last year was 37% and they are hoping to maintain a 30% growth rate this year as well. Elaborating on the market for the men’s fashion apparel segment, Hanif says, “There are different versions on the current size of the branded apparel men’s lifestyle and fashion accessories business. However, the potential is in the vicinity of approximately Rs 2 lakh crore per annum. This is the figure for the entire industry - branded and non-branded combined.
We have a presence in the entire south and west India and also stores in the Middle East and Sri Lanka.”
At present, the firm has three brands – Basics 029, Genesis, and Probase and a retail line – Basics Life. The target groups for all three brands are well-defined. Basics 029’s TG is aimed at the age group of 20-45 years. Probase’s TG is the youth, aged between 14-20 years and Genesis cuts across age groups and provides solutions on formal wear requirements. Hanif states that Probase is ‘the next big brand to watch out for’. He remarks, “The excitement quotient is highest on Probase. Close to a year back, the design team realised that that the lines between Basics 029 and Probase were blurring and this was a cause of concern for us. That said, the plan to rework the complete brand value proposition (BVP) was made. Currently, it displays the best fashion quotient and is not only the ‘coolest’ but also the freshest.”
At the recent Autumn/Winter 2011 fashion show held on September 17, Hasbro came out with a new denim range, with the tagline ‘Love Thy Denim’. Ads for the new arrivals were released across newspapers and magazines to coincide with the fashion show. The present campaign will run till December. Happy Creative Services provides all creative solutions for Hasbro which uses mainly print, and also OOH for advertising. For the Basics Life store, Happy created the entire identity from the logo to all the collaterals. They have also come out with catalogues for the stores.For more updates, be socially connected with us on
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'People are doing a lot of trading.'
'Short-term euphoria can be seen.'
'Retail participation is best through MFs and PMS.'
"Currently, it is a great market for stock pickers and one is spoilt for choice," Vikas Khemani, founder, Carnelian Asset Management, tells Vishal Chhabria.
The markets have run up sharply and the leading indices are 10 to 12 per cent from all-time highs, but earnings visibility hasn't improved commensurately. Are the markets in a bubble zone?
The market's recovery from the bottom is surely sharp and gives a feeling of euphoria.
However, one should not forget that on the other side of the Covid crisis, lies a great future.
Low interest rates augur well for equities.
Two things go into the valuation of equities -- earnings and cost of capital.
While earnings are compromised for 2020-2021, the interest rate drop compensates for that.
Once earnings growth comes back, which it will, the markets will do well.
However, short-term correction and volatility can happen at any time.
Rural India is reportedly doing well. To what extent can it help lift the GDP and India Inc's earnings?
Yes, rural India is relatively insulated from the Covid crisis.
It is not only agri-productivity, but also rural consumption, which helps contribute to GDP.
It will provide a very good cushion to both GDP and earnings.
Are you seeing any green shoots in other parts of the economy, such as manufacturing and services?
I see India embarking on to a manufacturing boom over the next 5 to 10 years and it will surprise everyone.
Manufacturing GDP can hit $1 trillion in the next five-seven years.
We have many non-believers in this.
The COVID-19 crisis is a very big catalyst for growth in local manufacturing, led by import substitution and exports.
Do you know India has half the labour cost, equal power cost and a third of logistics cost when compared with China?
India is already competitive and this event, coupled with tariff and non-tariff barriers, will serve as a catalyst.
Even in the services sector, IT services will see big growth.
Every organisation has to get ready for the new digital economy and billions of dollars will be spent.
This is non-discretionary just like Y2K.
We shall see a big growth in IT services.
Both these themes will result in record levels of employment generation over the next five years.
You can well imagine the impact of that on consumption.
Many banks have raised huge sums through equity and debt, even as their capital adequacy was comfortable? Is this a preparation for a surge in non-performing assets?
The pandemic has brought a lot of short-term uncertainty, especially for the banking sector.
This pandemic will cause significant cash flow and profitability issues for MSMEs and individuals, both salaried and self-employed.
This is likely to create a risk of NPLs (non-performing loans) in the industry.
In a leveraged business, it is sensible to be prepared for it and keep the balance sheet strong.
In case, NPLs are less than anticipated, banks can grow without raising capital for three-five years which again is a great scenario for banks.
We like to see a well-capitalised and stronger banking sector as it is essential for confidence and growth.
There was a time when consumption was a key theme. How do you see it play out over the next one-two years?
Consumption is still a theme and will remain for the next two decades.
India has a young and aspirational population.
Non-discretionary spending is linked to an increase in earnings, hence might happen with a lag, but will pick up for sure.
Given the muted demand, many stocks have corrected, thereby creating an opportunity for an investment.
What is your reading of the rise in global prices of commodities?
Global cyclicals like commodities are strongly linked to liquidity in the system.
A combination of quantitative easing and fiscal spending by the central banks and governments across the globe will lead to a significant run in commodities.
We are looking at a three-four years bull run in commodities.
It may be similar to the 2003-2007 period.
In the current situation, how difficult has it become to pick stocks?
Stock picking is always important in all kinds of markets.
Currently, it is a great market for stock pickers and one is spoilt for choice.
We are fully convinced about India's recovery, a boom in manufacturing, and significant scale-up in services.
India will see a widespread recovery.
What are your preferences in terms of stocks and sectors?
We like IT, pharma, industrials, non-discretionary consumption and financials, especially non-credit financials.
How do you view the rising direct retail participation in equities?
It is worrisome to see such a rise in direct retail participation.
We have seen many penny stocks without fundamentals being traded.
People are doing a lot of trading.
The markets can always disappoint you.
Short-term euphoria can be seen.
Retail participation is best through MFs (mutual funds) and PMS (portfolio management schemes).


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Robinson joins the agency next month and will be responsible for overseeing digital work across all of JWT's clients, including HSBC, Kraft Foods and Nokia.
He will report to Russell Ramsey, the agency's executive creative director, and will work closely alongside the digital creative director Paul Banham, who joined JWT from Archibald Ingall Stretton in August last year.
Robinson has been at Dare for just over a year, working on campaigns for brands such as BMW, Premier Inn and Vodafone.
Last year, he also helped create the "spark something" campaign for Sony Ericsson, which saw thousands of space hoppers invade the Yahoo! homepage.
Ramsey said: "Olly has worked on some really exciting digital projects. His work is exceptional and his talent is perfect for JWT."


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Nevermind the Jet, Fire Up the Limo Some executives like to fly. Others prefer to drive. Or, make that be driven. Bank of New York Mellon Chairman and Chief Executive Robert P. Kelly is clearly in the latter category. And so, too, are other top executives at the bank. According to the proxy statement filed by the company, Mr. Kelly spent less than $12,000 on his personal use of the company’s corporate jet. Given how expensive corporate jets are, that works out to a few hours of time in the air. Compare that with the $185,982 that Bank of New York spent last year to provide Mr. Kelly with a car and driver. Mr. Kelly wasn’t the only Bank of New York executive to favor cars over planes: the company spent $149,835 last year to provide Thomas P. Gibbons, who was promoted from chief risk officer to chief financial officer on July 1, with his car and driver; for Gerald Hassell, the company’s president, the expense was $189,959; for Steven Elliott, senior vice chairman, $110,854, and Bruce Van Saun, the company’s former chief finance officer, $160,431. In the filing, the company said that those costs included the salary and benefits for the driver, depreciation, and incidentals like parking and fuel. The company said it provides the perk for “personal security” reasons and because it allows for a “more effective use of travel time.” But that wasn’t the oddest perk in the filing. The company said it spent $106,521 to reimburse Mr. Elliott “for time not spent at [an] apartment in New York.” What exactly does that mean? According to the filing, Mr. Elliott lives in Pittsburgh but had access to an apartment in New York. Still, it’s not entirely clear from the filing why Mr. Elliott received money for not staying in the bank’s apartment.
He pays for the apartment, and BNY pays him back. Come on put your limo cap on and drive me somewhere.


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On the “How To Get Acquired” panel here at Le Web, Microsoft Senior Director of Corporate Strategy and Acquisitions Fritz Lanman admitted to Loic Le Meur that Microsoft did try to acquire the social network Facebook. The Microsoft/Facebook acquisition talks were first reported by David Kirkpatrick in his book “The Facebook Effect.”
“Yeah we tried to acquire Facebook” Lanman responded to Le Web founder Le Meur, Facebook had a lot of similarities to Microsoft back in the day.”
Kirkpatrick quotes Steve Ballmer offering Zuckerberg $15 billion, also alluded to by Meur onstage. Microsoft ended up investing $240 million at that valuation instead because Facebook would not sell. While onstage, Lanman speculated that Facebook’s valuation could one day be as high as Microsoft’s.
Microsoft and Facebook currently work together in a search partnership where Bing users can view information about their friends’ Likes. Facebook’s new messaging service also has deep Microsoft Docs integration.
Full anecdote from the Kirkpatrick book below:
“Microsoft CEO Steve Ballmer had flown to Palo Alto to visit his young counterpart twice. As Zuckerberg is wont to do, he took Ballmer on a long walk. Zuckerberg told Ballmer that Facebook was raising money at a $15 billion valuation. But Ballmer had come with something more sweeping in mind. “Why don’t we just buy you for $15 billion?” he replied, according to a very knowledgeable source. Zuckerberg was unmoved even by this offer. “I don’t want to sell the company unless I can keep control,” said Zuckerberg, as he always did in such situations.
Ballmer took this reply as a sort of challenge. He went back to Microsoft’s headquarters and concocted a plan intended to acquire Facebook in stages over a period of years to enable Zuckerberg to keep calling the shots. But Zuckerberg rejected all the overtures. What Ballmer finally agreed to instead was an advertising deal that included a provision for Microsoft to pay a huge amount, $240 million, for a sliver of Facebook, 1.6%. Microsoft’s investment gave Facebook an implied value of $15 billion.”


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Dec 6, 2018
Hawkers taps Nacho Puig as CEO to lead international expansion
Dec 6, 2018
The board of directors of Grupo Hawkers has appointed Nacho Puig as new chief executive of the company, taking responsibility for the company’s operations and business development, according to a statement.
Puig, who has a wealth of experience in the fashion and sports industry, will be tasked with driving a new strategic plan that will aim to position Hawkers as an international fashion brand in the eyewear sector.
The company said the CEO appointment comes as a result of of a business review carried out by Experience Group, a partner company of the eyewear firm which is also led by Nacho Puig.
The next few months will see Hawkers undertake a series of measures such as streamlining its structure, improving its online business, defining its offline business model and expanding internationally.
Alongside Experience Group, the eyewear company has kicked off a rigorous expansion plan with the aim of strengthening its retail business under its brand positioning strategy.
Along these lines, the company will position itself as an international fashion firm, building on its successful business model of offering “the best possible quality at the best price and for everybody”.
The company will start an international expansion by opening flagship stores and locations in the world’s leading cities, as well as opting for an omnichannel approach.
The new CEO of Grupo Hawkers, Nacho Puig, said the new brand positioning “as an international fashion firm is a natural step for a company that faces the great challenge of understanding the evolution of the consumer.”
Commented about the partnership with Experience Group, Puig said: “The collaboration between both companies is a win-win situation that will provide more value, synergies and resource optimisation.”
Hawkers has 200 employees and offices in Barcelona, Hong Kong, Mexico City, Los Angeles and Elche. It also operates more than 45 physical stores.
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Equinix grows Q1 revenues by 10%; Digital Realty by 33%
It’s no secret that the data centre industry is growing, and fast - from the hyperscale all the way to the edge. A report released this week by Canalys found that global cloud infrastructure spending rose by 35%, up to $41.8bn in Q1 of 2021 alone. While we don’t have industry spend figures for edge data centres, the market is similarly booming, with an expected CAGR of around 12.5% between 2020 and 2024.
Equinix, as one of the world’s leading data centre brands (with fingers in both the hyperscale and edge pies) is reflecting this wider trend through its earnings and revenue figures.
The Californian data centre operator announced its , revealing that, year-on-year, it managed to grow its revenues from the past few months by a full 10% - representing the company’s 73rd consecutive quarter or revenue growth.
Equinix also reveals that it is now the market leader for colocation in the Americas, EMEA and APAC after taking the top spot in Asia during the quarter.
"We had a great start to the year, and as businesses continue to navigate towards a post-pandemic world, Equinix is uniquely well-positioned. Digital transformation continues to accelerate, and businesses across a broad range of verticals are recognising that their infrastructure can be a key source of competitive advantage in an increasingly digital world,” commented Equinix’s President and CEO, Charles Meyers.
He added: “Q1 also marked a milestone for Equinix as we are now the market leader in retail colocation in all three regions of the world, taking the number-one spot in Asia-Pacific for the first time. Demand is strong with global IT spend expected to rebound above pre-pandemic levels as enterprises increase hybrid cloud spending, and service providers build out their delivery platforms to tap into this demand."
Meyers also revealed that Equinix’s progress isn’t showing any signs of slowing down. The data centre company has a reported 36 major projects underway across 28 markets and 19 countries - making 2021 one of its most active build years to date. This is likely being contributed to by the whiplash effect being felt throughout the industry this year, as new projects and old ones delayed by the pandemic are set to proceed side by side.
Digital Realty reported revenues for the first quarter of 2021 of $1.1bn, a 3% increase from the previous quarter and a 32% increase from the same quarter last year.
NKG1 opens BDx Nanjing data centre campus
Big Data Exchange (BDx), a pan-Asian data centre company has launched its Nanjing data centre campus in China with the opening of its first facility, NKG1. The company said they “celebrated” the launch of the campus, located in the Yangtze River Delta, one of the nation's richest regions and its largest import and export base.
Following its certificate of completion from the Urban and Rural Construction Bureau of Jiangning District in Nanjing City, the NKG1 campus is “now serving customers”. Construction on the Nanjing campus began in February last year.
"We worked through the challenges of completing a major construction project during the peak of the pandemic because customers were anticipating this launch to support an unprecedented surge of growth and capacity requirements”, said Bill Gao, EVP & Chief Executive Officer of BDx Greater China.
"The launch of NKG1 enables BDx to have new world-class data centre infrastructure in China. It also lays a solid foundation for BDx to provide OTTs, financial services institutions, and Fortune 500 MNC customers with high reliability, high redundancy, and low latency solutions”, he added.
What does the NKG1 data centre include?
According to BDx, the NKG1 facility is the first data centre in the city to earn the Uptime Institute Tier III Certification of Design Documents and offers 4MW of IT power for colocation. NKG1 is powered by two separate 10-kilovolt feeders from two substations that aim to provide the NKG campus with 60MVA of total power sanctioned from the grid.
During COVID-19, BDx says that its design and construction team focused on safety to ensure that the project was completed safely and without incident. This enabled the company to add critical capacity to this region and respond to the accelerated shift to digital environments that caused a surge in demand for data center services. “Research shows that demand hasn't dropped as the economy reopens”, BDx said.
The launch of NKG2
Due to rising demand in China’s data centre market, BDx plans to launch the second phase of its Nanjing campus, NKG2, by the end of this year. “NKG2 is designed to be minimally manned and almost lights-out — a reigning philosophy across BDx's data center cluster. In addition, its highly automated features make for a more sustainable data center environment”, the company said.


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The U.S. Postal Service filed a notice Wednesday of a temporary price hike for this year’s peak holiday season, which it said would help cover extra handling costs.
The agency said the adjustment was approved by its board of governors and is now pending review by the Postal Regulatory Commission. The price increase would go into effect on Oct. 2 and remain in place until Jan. 22, 2023.
The agency said the adjustment is similar to past years and will allow it to remain competitive during the peak shipping season.
The price increases depend on the weight of the package and the distance of the delivery. Commercial priority mail packages will see a 75 cent hike, and heavy, long-distance deliveries could see increases of up to $6.50.
The agency noted that it relies on postage, product and service sales to fund operations.
The announced price hike comes soon after the agency stated plans to buy at least 25,000 electric delivery vehicles.


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UPDATE: Nokia has released a statement (opens in new tab) reaffirming "it currently has no plans to manufacture or sell consumer handsets."
The statement reads: "Nokia notes recent news reports claiming the company communicated an intention to manufacture consumer handsets out of a R&D facility in China. These reports are false, and include comments incorrectly attributed to a Nokia Networks executive.
"Nokia reiterates it currently has no plans to manufacture or sell consumer handsets."
Nokia's pretty much been lying low since Microsoft bought its mobile business then dropped the name from its Lumia phones, but a return is now imminent.
There have been rumors since last year that Nokia would re-enter the smartphone market with a new Android phone - its first in some time - and today those rumors are confirmed.
Nokia's president in China, Mike Wang, said the company will use its Chinese factories to build new Android phones in 2016, reports G For Games.
We've asked Nokia to confirm it, but unless the site is way off-base this sounds like the real deal.
Given the focus on China Nokia could be looking to return to the Android market with some low-end or mid-tier devices, but we can only speculate on that front - Wang revealed no further details.
We'll be watching for more word, and in the meantime we'll update this article if we receive confirmation from Nokia that it's really making Android phones for 2016.
- Which version of Android will they run? Android KitKat is still on top


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Today's post is written by Lou Bustamante. Lou is a contributor to publications including SF Weekly and Wine & Spirits.
Just when the credo of fresh juice in cocktails has permeated every decent bar in America, a shortage of limes and immense spike in price is having some bar owners and managers worrying about the tough reality this poses: increase drink prices or find alternatives to fresh limes?
Even in Mexico, the issue is dire. According to CNN Mexico, prices in the country have spiked to almost 80 pesos ($6) a kilo, so its no surprise that prices here are bad. In a survey of friends across the country, prices have gone from a low of about $25 a case to the current market price of $135 a case.
This has hit bars hard.
“I never thought I’d be thinking this much about limes,” says Sarah Shaw, production manager for Future Bars (Bourbon & Branch, Rickhouse, Tradition; San Francisco). The spike in price has resulted in changes for the bar group, but so far no price increases. On the customer side, the only noticeable difference is a reduction or elimination of lime garnishes, and no more lime juice drinks being developed for the menus.
Writer Fred Yarm who tends bar at the Russell House Tavern (Cambridge, MA) has also seen the effect hit garnishes, and also have not effected drink prices yet.
Others are simply eliminating limes and lime drinks altogether like Alexeis Filipello (Dogwood, Oakland, CA). “I’m not playing that game,” says Filipello. “I hope Mexico has case upon case of rotten limes and the cartels are forced to sell drugs again instead of strong arming lime farmers,” she adds.
What's Causing the Lime Shortage?
Which brings us to the cause of this issue. The problem breaks down to a couple of factors: bad weather in Colima destroyed a majority of the crop this year, but the biggest impact is certainly the dilemma that central Mexico has been facing with the drug cartels.
In the state of Michoacán where the majority of Mexican limes are grown, the Knights Templar cartel has been extorting money from farmers for protection for years, but this year, as the ruthless cartel started taking their land, desperate farmers started to fight back (CNN has a posted an enlightening video here). The violence and fighting have hindered harvest and export.
Needless to say Mexican restaurants are being hurt the most, with fresh lime juice margaritas the worst case senerio. Tacolicious, with four locations in the San Francisco Bay Area, estimates that they use about 150 cases of limes a week, hitting them with a $72,000 a month lime bill.
Their solution has been to offer a new version of their Margarita. Normally $9.50 and made entirely with fresh lime juice, the new version (at the same price) is being made with a mixture of fresh lime juice, pasteurized lime, and fresh lemon juice instead.
They are also offering a new “Margarita del Cartel” for $12.50 made entirely out of fresh lime juice - a $3 increase per drink. They have also penned a great explanation of the situation for their customers on this temporary change.
But there are other solutions to making due with the lime crisis, and some bartenders are using more acid phosphate and lactart in new drinks. Kinson Lau (Alchemist, San Francisco) is thinking about adding another one of these drinks on the menu. Darcy O’Neil, author of Fix the Pumps, points out that this was an issue in the era of soda fountains with limes in the off-season. Their solution was to use acid phosphate and lactart in those months in place of the citrus.
Bobby Heugel, owner of Anvil Bar & Refuge (Houston) suggests asking wholesale produce companies for "packers cases". “They're mixed sizes and usually come at a discounted price because they use the leftovers from size requirements of other case sizes,” says Heugel. “Our packer's cases were almost half the price of our standard sized order.”
But there is relief in sight. In Mexico this week people started seeing a 15% price drop as production from the states of Colima and Veracruz have started to come in. Lets hope we see it here too—perhaps we’ll have an even better reason to raise a margarita this Cinco de Mayo.


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News Briefs for April 16, 2013April 16, 2013
•Moët Hennessy enjoyed a reported sales increase of 6% to €979 million ($1.3b) in the first three months of 2013, its fiscal first quarter. On an organic basis, sales were up 7%, as “notably robust” Champagne demand in Asia offset softer conditions in Europe, and Hennessy Cognac continued its “excellent momentum,” in the company’s words, with the U.S. and China both among the markets driving growth. Among Moët Hennessy’s other brands, single malt Scotch whisky Glenmorangie and Belvedere vodka also got off to strong starts for the year, the company said.
•Glazer’s continues to bolster its portfolio in Indiana. After adding Aveníu Brands to its distribution lineup in the state in recent days, Glazer’s has announced an exclusive distribution partnership with C. Mondavi & Family. With this new alliance, the Napa Valley-based C. Mondavi is now aligned with the Dallas-based Glazer’s in nine states. C. Mondavi’s leading brands include Charles Krug, CK Mondavi and The Divining Rod, which was introduced in 2012. Additionally, Glazer’s has appointed Randy Myers as senior vice president-Missouri. In his new post, Myers, who came to Glazer’s in 2007 after nearly two decades in the Gallo sales organization, will report to Scott Westerman, Glazer’s regional president for Missouri, Kansas and Iowa. Glazer’s is Missouri’s second-leading spirits and wine distributor, behind Major Brands.
•Brown-Forman’s Tequila Herradura has unveiled the first offering in its new small-batch series, Coleccion de la Casa. Launching this month, Coleccion de la Casa’s debut expression is Reserva 2012, Port Cask Finish, described as a Reposado Tequila matured in American oak casks for 11 months and then Port casks for an additional two months. It’s available in a limited quantity of 2,000 cases, priced at $89.99 a bottle. In other Brown-Forman news, Southern Comfort liqueur is releasing a poker-inspired gift pack for its 100-Proof expression. The World Series of Poker gift pack includes a 750-ml. bottle of Southern Comfort 100-Proof, as well as a deck of playing cards and 10 poker chips. The limited edition offering is currently available in 13 U.S. markets. A presenting sponsor for the 2012-2013 season of the World Series of Poker Tour, Southern Comfort returned to net sales growth in the U.S. last year, following several consecutive years of decline.
•Budweiser is set to release new bowtie-shaped cans beginning May 6. They will be offered in addition to the traditional cans and not as a replacement, and will be available in 8-packs of 11.3-ounce cans. The can shape is inspired by the traditional bowtie logo that frames the Budweiser brand name on the packaging, and is meant to attract younger LDA consumers. Anheuser-Busch has been working on the can’s design since 2010 and will support the release with a marketing initiative that includes new print, digital and TV ad spots, as well as point-of-sale materials. Additionally, A-B is working on other packaging changes, including plans to release later this summer new 25-ounce cans to replace existing 24-ounce cans across 10 states.
•Hawaii’s Kona Brewing Co. has unveiled new packaging across its line of beers. Set to roll out later this month, the new look features bottles that are embossed with a Hawaiian island chain and “Liquid Aloha” lettering, as well as new illustrated die-cut labels designed to accentuate Hawaii’s natural landscape. Kona has also changed the shape of its beer bottles, slimming down the 12-ounce packaging to reduce the weight by 11% and make shipping more efficient. The packaging will be available in stores across Kona’s 36-state distribution footprint. A subsidiary of Craft Brew Alliance (CBA), Kona’s total shipments were up 27.3% to 220,000 barrels in 2012, bolstered in part by an 18% increase in shipments to its home market.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.


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My son has been having conversations with imaginary characters. I know, because I can listen to some of them, and even see pictures.
The children’s entertainment publisher ToyTalk created an interactive program, the Winston Show, and as my son talks back to the characters in that show, I get emails with subject lines like, “Your kid said something awesome.”
I can sign into my account and find multiple sound files and screenshots of him having a conversation with an imaginary character from a show he’s been watching on his iPad. It’s adorable, and it’s the interactive future of tablet-based television.
Tablets and phones are an increasingly common way for children to consume television.
And that is changing the way content developers and even advertisers try to reach children in new locations.
The Winston Show is an example of the innovative new content types that are possible when a TV is also a hand-held computer.
It’s an iPad-only production, available as a free app, that is now in its second four-episode “season.” The company, based in San Francisco, was founded by two Pixar veterans, Oren Jacob and Martin Reddy, with the goal of providing interactive children’s programming.
As youngsters watch the show, the characters ask them questions; when they respond, the app uses speech recognition to interpret their answers, which then help drive the story line of each episode.
The shows even use the front-facing camera to engage children in, say, trying on a character-appropriate hat.
The Winston Show has no ads, and ToyTalk said it hoped eventually to make money by licensing its technology to generate multiple story lines and recognise children’s speech.
ToyTalk was developed for the iPad, Jacob said, because it was a device that combines the way children want to watch television with the tools necessary for the Winston Show experience: a camera, a microphone and a touch screen (to activate the mike).
“I think that children want to be in control of what they watch and what they interact with,” Jacob said. “That happens by giving them a device they’re in control of. That puts the choice of what they do in their own hands.”
Hard data on children’s viewing habits is hard to come by, because the Children’s Online Privacy Protection Act requires parental consent for data collection.
But anecdotally, most parents would say their children watch increasing amounts of television on tablets, and a look around any airplane, restaurant or living room says tablet viewing is a big deal.
The research firm Forrester found that of children ages 12 to 17 who regularly use a tablet, 42 percent are streaming video or TV from sites like Netflix or YouTube, and 39 percent are watching TV programming stored on the device.
The Winston Show is the only one of its kind, but traditional publishers are also looking for new ways to reach children when they’re not in front of TVs.
The Cartoon Network of Turner Broadcasting just announced a new mobile phone app it is calling a “micro-network,” aimed at bringing original content to four-inch screens, as a way to be wherever youngsters are.
Publishers like Nickelodeon and PBS offer clips, games and episodes with apps, and DreamWorks Animation is working to develop a branded tablet, the DreamTab, that would deliver DreamWorks content in a child-friendly design.
These models have advantages for parents. Mobile devices are easy to apply parental controls to.
They’re portable, and they can deliver educational apps and books in addition to TV.
But they also raise questions about data collection, privacy, in-app purchasing and how exactly content publishers will make money in a world without commercials.
No doubt, my son’s experience with TV, movies and games meant for children is already far different from my own. And he’s not unique.
“Right now, the two biggest streaming devices for kids in the Netflix ecosystem are tablets and smart TVs, and they are neck and neck,” said Todd Yellin, Netflix’s vice president of product innovation.
Children’s content is so important at Netflix, Yellin said, that the company just hired a product development boss specifically focused on it.
The lack of commercials is a point of pride, especially in children’s programming, Yellin said.
“It’s one thing if you’re a grown-up and you know that’s a commercial, but kids merge the commercials with the entertainment content,” he said. “To be able to tell the difference isn’t as easy as we think.”
It may become even more difficult, some experts say, as companies try to innovate to find children across their various devices.
Cross-promotional, embedded digital ads and product placement advertising is becoming more typical, according to Common Sense Media.
In a recent study, the group said it was difficult to measure the impact of digital ad trends on children.
Exposure to online ads, and advertising in video games and through branded sites that cross-promote shows with toys is probably very high, the report said, and more study is needed.
For original programming publishers like Cartoon Network, the shift in viewing behaviour means combining traditional television programming with figuring out how to engage viewers on completely new platforms - a challenge facing all publishers, children’s or otherwise.
“We’re not just figuring out what to program onto these devices,” said Chris Waldron, vice president of Cartoon Network Digital.
“We’re figuring out the interface, how it should be constructed, and it’s basically as if we’re going back in time and inventing the television set, and inventing the cable network.”
Back at ToyTalk, inventing a new kind of interactive content is a technical challenge on a couple of levels.
First, writing episodes with multiple potential story lines per character is a remarkable creative feat. The show’s writers script “thousands” of possible responses, ToyTalk’s Jacob said.
Second, he said, the company is building “speech recognition for kids, which no one’s built before.” The better the speech recognition, the more realistic the character interaction.
One note for parents: To improve the speech recognition, ToyTalk collects recordings of your child as he or she interacts with the characters.
That’s also how you get the recorded snippets, which come complete with little screenshots of your child in action.
I admit, this made me uncomfortable at first, although it’s clearly disclosed in the activation email you receive when you sign up for a ToyTalk account. It’s still disconcerting to know an app is recording everything your child says, along with photos - and that ToyTalk employees are listening to transcripts to improve their product.
But the end result is a good show. My son, age 7, loved interacting with the Winston Show, and can’t wait for new episodes.
And I liked getting his little recordings in email, too. Sometimes oversharing has its purpose.
Also, if you’re a parent who chooses to allow screen time for your child, it’s somehow more comforting to watch a child truly interacting and imagining along with a show, instead of passively staring at the screen.
If children are the testing ground for new models of content, advertising and device-specific behaviour, it’s because this generation is fluent in a panoply of devices.
“There’s a fluidity going back from the television to the tablet to the phone,” Waldron of Cartoon Network said.
“As long as they’re comfortable moving back and forth, that’s good for us, too. Our job is to entertain them on whatever device they happen to enjoy our content on.”


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Reddit takes Tencent cash, sparks user backlash
SAN FRANCISCO — Last week reports came out Chinese tech monstrosity Tencent would be investing $150 million in Reddit.
China—for those who have been living under a rock—has the greatest internet. The only problem? It doesn't actually connect to the outside world and comes with just a pinch of censorship.
By opening the doors to Chinese money, Reddit basically killed its own karma.
According to the BBC, the proposed selling out prompted swift backlash from users who still see the site as a bastion of free speech.
It's unlikely that Tencent will be able to make any decisions as to the type of content that is posted on the site, but that hasn't stopped hilarious memes and protest messages from exploding all over the platform.
In China, any mention of Taiwan, Tibet, Tiananmen Square and Winnie the Pooh over their INTRANET is a no no.
So naturally, Reddit users have been plastering the site with posts mentioning Taiwan, Tibet, Tiananmen Square and Winnie the Pooh and up voting the hell out of them.
Reddit is thought to be valued at around $2.7 billion, so $150 million is far from total control.
Chinese money might not come with strings attached, but that's only because they're built in.
NEXT ON TOMONEWS
What happens if Trump declares an emergency to build his wall?


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Levi's recently appointed Walmart’s Vice President of Global eCommerce Marc Rosen, as Executive Vice President and President of Global eCommerce. According to Drapers, Rosen will start his new position on May 5.
In his new position with Levi’s Rosen will be responsible for improving growth and profitability in the company’s online business. He will also be focusing on the company’s highest growth markets China, France, Germany, Japan, the UK and the US.
Prior to his ecommerce role at Walmart, Rosen was senior vice president of information systems at the company with responsibility for Walmart’s global merchandising.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.


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William Hill preparing for Australian sale
William Hill have appointed Citigroup as advisers on a sale of their Australian business, although reports from Australia suggesting a deal could be done by next month's results announcement are understood to be very ambitious.
The bookmaker revealed on Monday they were carrying out a strategic review of their Australian arm, saying that a ban on credit betting and the likely introduction of a point of consumption tax in a number of states there meant "it is clear that profitability will increasingly come under pressure."
Hills' Australian business could fetch from Aus$200 million to Aus$300m (approximately £115.5m-£173m/€130m-€195m), although all options are understood to be on the table, including splitting the business off into a joint-venture with another partner or a merger.
Last year the company said they had engaged in "very preliminary" talks with local rival Crownbet about a deal, while Paddy Power Betfair's Australian arm Sportsbet would be among the frontrunners to buy the business to help meet the challenge of the newly-merged Tabcorp and Tatts Group.
Reacting to the report in the Australian Financial Review, analysts at Goodbody said: "While losing international diversification is a negative, the [William Hill] Australian business is likely to struggle to remain profitable as a standalone business given likely increased taxation and the credit betting ban. Without scale, divesting of the business makes sense."
Hills did not wish to comment.
The news of the review came alongside a trading update that revealed Hills' overall profits for 2017 would be ahead of expectations, thanks to a run of favourable sports results, with full-year adjusted operating profit for 2017 expected to be around £290m, up 11 per cent on the previous year.
Members can read the latest exclusive interviews, news analysis and comment available from 6pm daily on racingpost.com


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Travelling safely and comfortably from the north of Amsterdam right through the heart of the city to Zuid station in only 16 minutes. An impossible feat to accomplish by car, bicycle or the current public transport system, but with the North-South Line it is expected to be an everyday reality for 185,000 commuters. Despite setbacks in the construction process and frequent negative reports in the media, the first passengers will likely be able to start using the new metro line 52 by 2017. The successful test run through part of the tunnelled section at the beginning of November was encouraging in this respect.
Tesla has recently opened its second factory in the Netherlands in Tilburg. The design of the new factory is durable and meets all requirements of the American company in the area of durability and proper current transfer in the floors. Due to the arrival of this new factory, the production capacity can be increased significantly which means more cars can be made roadworthy. The Bolidtop Stato-floor ensures proper current transfer and contributes to the durability requirements of the company.
New research facilities will enable DSM to grow considerably in the coming years. While DSM recently moved into its new building on the Chemelot Campus in Geleen, the DSM Biotechnology Centre will be delivered in 2016. For both of these new construction projects, Bolidt was the company able to meet all the flooring requirements DSM had set out.
Recently opened in Lounge 2, the M&M’s store is contributing to a new world of experience at Schiphol. After all, Schiphol is increasingly evolving from just a ‘normal’ airport into a shopping paradise. The largest airport in the Netherlands features a great many big brands and, following the example of various metropolitan cities, passengers flying through Schiphol will from now on be able to visit the first M&M’s store in the Netherlands.
In 1921, Karel Jeurgens started making cakes and biscuits in a small bakery. Now, almost 100 years later, that bakery has grown into an international producer and exporter of a wide selection of biscuit and bakery products. All of this happened because Jeurgens decided at the time to make sponge fingers his primary product.
It’s Bolidt’s latest cruise project, the Norwegian Escape at Meyer Werft. The Norwegian Escape is 325.9 m long and 41.4 m wide.


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The 2014 Cadillac CTS: Great, But Expensive
The new 2014 Cadillac CTS. Photo credit: General Motors Co.
When the last Cadillac CTS was introduced in 2008, reviewers were mostly impressed: General Motors had finally created a car that was close to rivals from the German luxury-car leaders.
Now GM has another all-new CTS for 2014, and the first reviews are in: No qualifiers needed, this one is seriously competitive with the best from BMW and Mercedes-Benz. It's a big step up from the last car, reviews are saying, and in some ways it's even better than the German alternatives.
It's high praise for GM, the latest in a series of exceptional new products from the overhauled Detroit automaker. But this new CTS comes with a big caveat: It's a lot more expensive than the outgoing model.
There's an argument that the new CTS should be more expensive than the old one: It's a much better car, with more features and equipment. At the same time, the Cadillac brand still has a ways to go before it's thought of as a global peer of the German luxury marques.
Has GM pushed too far, too fast? In this video, Fool contributor John Rosevear looks at the latest on the stylish new Cadillac, and offers his view on what it will need to succeed in today's market.
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The article The 2014 Cadillac CTS: Great, But Expensive originally appeared on Fool.com.
Fool contributor John Rosevear owns shares of Ford and General Motors.You can connect with him on Twitter at @jrosevear. The Motley Fool recommends BMW, Ford, and General Motors. The Motley Fool owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


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City Inside/Out episodes
Poll: Should the city regulate short-term rentals like Airbnb?
As Seattle grows in popularity, many homeowners are cashing in, renting out their residences on online home-sharing sites like Airbnb and VRBO. The mayor and City Council members say these fast-growing services should be regulated because they are threatening the city's long-term affordable housing stock. But will new rules, targeted more at landlords with multiple properties, hurt private-property rights and stifle a much-needed service in our rapidly changing sharing economy? What's the right balance?
On the show:
Michelle Acquavella, Owner, Sea to Sky Rentals
Tim Burgess, Seattle City Council
Charlie Cunniff, Airbnb Host
Amy Fay, Airbnb Host
Dr. Eric Friedland, Owner, Roy Street Commons
Howard Greenwich, Senior Policy Advisor, Puget Sound Sage
Daryl King, Owner, Bacon Mansion B&B
Rebecca Saldaña, Exec. Director, Puget Sound Sage
Roger Valdez, Director, Smart Growth Seattle
Cynthia Wang, Public Policy Manager, Airbnb


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Jersey's Consumer Council says the government is not doing enough to make shoppers aware of new tax rules which come into force next week.
From Saturday 1 July, online retailers like Amazon, eBay and Very which turnover more than £300,000 will have to start charging the local 5% Goods and Services Tax on all products, regardless of their value.
The so-called "de minimus" level - the maximum value items can cost before they are stopped at the border and GST has to be paid - is also being reduced from £135 to just £60, meaning items bought online will have to be cleared through customs unless GST has already been applied by the retailer.
Although announced as part of the government's 2022 budget, the consumer group says many people believed the tax would only be levied on imported goods worth more than £60.
Carl Walker, who chairs the Consumer Council, says: "Islanders have been made aware that the de minimus level or online threshold is coming down from £135 to £60 on 1 July, but what consumers and islanders don't seem to have been made aware of is that on some of these larger online retailers, they're going to be paying GST on items that cost less than that."
Carl Walker says many shoppers aren't aware of some of the changes to import tax rules
Many people in Jersey shop for bargains online to try and get the best deals, reducing demand for high street retailers.
The island's Chief Minister says the changes will level the playing field: "We understand that the cost of living is a major issue for islanders, but also there has been criticism from retailers who have felt that the current situation is making their position in terms of competition and pricing really difficult."
The Government of Jersey says it has made the public aware of the new import tax rules - the impact of which will be felt for the first time next week.
Want to find out more about the stories making the headlines? Don't miss Channelcast - the Channel Islands current affairs podcast brought to you by ITV News:


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December 1, 2020
The WHO recently shared that one in ten people fall sick due to food contamination every year. In America alone around 48n million Americans fall sick due to contaminated food. The necessity for making the supply chain information of food supply more trustable is becoming a growing concern for industries. Modern supply chains are very refined and even though they have become very competitive, the risks involved is very high due to its interconnected network.
November 24, 2020
The technological innovation that has been introduced through Blockchain in the field of agriculture and food supply chain market by application has created from for many functional spectrums like product traceability, secure payment modes, smart contracts, governance, risk, compliance etc. Of the many technological advancements, Blockchain has a hard-hitting effect in the global market and the market size is around USD 133 million in 2020. Experts say that the market is estimated to reach USD
Today’s generation is involved in making purchases with the mindset of sustainability. Belief-driven buyers are on a high and these people are concerned about their health largely. The goodness of the food you purchase is often a genuine concern. Some of you might even have googled to check whether the food we buy these days are good or organic! The food supply chain that begins with a farmer and ends with an end consumer is
As industry 4.0 concepts herald new ways in which various industries will be compelled to inter-operate with each other from one single platform without trusting one another, there’s a significant challenge of economic loss that most stakeholders foresee. Blockchain Technology, a trustless, decentralized, ledger technology paves the way through B-a-a-S services where enterprises can compete in their relevant field yet enjoy the benefits of using blockchain technology while inter-operating. What is B-a-a-S? B-a-a-S is not
October 24, 2020
Fintech factually blazed only during recent times, but it has been an unacknowledged terminology of the global industry for a long period of time. Did you know that ATMs are ground-breaking outcomes of FinTech innovation? In 1860, banks used to have technologies that were exclusively used for the verification of signature. FinTech has evolved from a mere tool in start-ups to foremost features of large enterprises and plenty of financial organizations. In the now, many


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Ubisoft joins the frantic rush of 2013 financial reports, but after a strong report from most every other major publisher, Ubisoft is reporting that profits have decreased from its 2012 fiscal year despite strong sales from its biggest franchises.
All in all, Ubisoft's 2013 fiscal year saw the company make $986 million in profits, which is a respectable number that comes in a little shy of the $1.2 billion it made in 2012. I wouldn't credit the drop as showing a decrease in quality, but rather, 2012 was just such a huge and exciting year for Ubisoft that it set a high bar to follow up. I remember not being as excited for the company after its 2013 E3 presentation compared to how excited I was after 2012.
Yet, despite the drop in overall profits, Ubisoft still triumphed in Q4 of the fiscal year with a jump in profits of $265 million. Ubisoft CEO Yves Guillemot pointed towards Obsidian Entertainment's South Park: The Stick of Truth and its "solid performance" and its "higher-than-expected digital distribution levels" for the reason of the unexpected profits.
Guillemot foresaw the return to "double-digit profitability" in the 2014 fiscal year with huge releases like Watch_Dogs, Far Cry 4, Just Dance, and Assassin's Creed Unity highlighting what is guaranteed to be a busy year for the company.
The biggest hits for Ubisoft in the 2013 fiscal year come from two of its longest established franchises. Naturally, Assassin's Creed IV Black Flag was a big hit selling 11 million copies worldwide. While Ubisoft reminded everyone that it was "the best-rated game of the Christmas season for PS4 and Xbox One," sales still dropped from the 12.5 million copies Assassin's Creed III moved.
Far Cry 3 was also another huge hit for Ubisoft. The once impenetrable first-person shooter series has found its balance point of critical and financial success in the third game, and it managed to find an audience of 9 million gamers to show for it.
We're looking forward to more Ubisoft games in 2014. We are already off to a great fiscal year with Child of Light and Valiant Hearts: The Great War showing the more artistic and personal side of the company while Watch_Dogs is set to break all kinds of records for the corporate business side.
What else can we expect to see from Ubisoft at E3 this year, and will it help them pull the profits up?
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What's the best phone of 2019? Is it the iPhone 11 Pro, Pixel 4 or OnePlus 7T? What about the best laptop, games console, tablet and more? Vote NOW in the Reader's Choice awards and win BIG in time for the holidays!
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The World Jewellry Confederation (CIBJO) has decided to hold its 2016 conference in Yerevan.
Hosted by the Armenian government and the Armenian Jewellers Association, the conference will welcome some 1,000 participants from around the world and will present a unique opportunity for Armenia to market its locally manufactured goods, potential and ideas to an international audience.
Despite existing problems (operating in the shadow economy, imbalance between quality and prices, inadequacies in the legal sector, etc.) the jewelry trade can become an economic locomotive for Armenia.
The country has gold mines and top quality jewelers. Jewelry exports, in terms if customs valuation, are at the top of the list when it comes to exports from Armenia.
When trying to gauge Armenia’s potential in this sector, we can look at certain data – production, export, import and domestic consumption figures.
In fact, the jewelry sector is one of the few economic sectors in Armenia that not only has re-attained pre-2008 financial crisis levels but has seen a doubling as well.
Reviewing data issued by Armenia’s National Statistical Service for the past eight years we see that after a dip in 2009 production amounts gradually rose, reaching a post-2008 peak in 2013 (19.417 million AMD). In 2014, this figure dropped 45.2% to 10.758 million).
In the first quarter of this year, 3.099 billion AMD worth of jewelry was produced. This represents a drop of 29% over the same period last year.
A majority of what is produced is eventually sold locally. A portion is also based on orders from overseas. Evidently, demand has fallen.
In July 2013, Armenia’s Ministry of Economy unveiled its strategy for developing the jewelry sector. It was revealed that the sector uses bank gold, all of which is imported.
Bank gold reserves are directed to the jewelry sector. In contrast, all the gold that is mined in Armenia is exported for reprocessing.
The jewelry sector in Armenia is dominated by small and medium sized enterprises, and individual proprietors, using their own capital. Some producers export all or most of what they make. Others work according to orders placed from overseas. Most producers are still using outdated equipment, some from the Soviet era. New equipment and technologies, however, are making inroads.
When it comes to exports, the United States was the largest market for made in Armenian jewelry until 2009. Between 2001 and 2006, 70-85% of Armenia’s exports went to the U.S.
In 2010 and 2011, Turkmenistan and Thailand took over as the largest importers of Armenian jewelry.
A significant factor in the fall of the U.S. market was that companies launched by investment from the diaspora ceased operations.
While production dropped in 2014, exports grew to US$23.3 million.
The major markets for jewelry made in Armenia are Turkmenistan, the UAE, Russia, Kazakhstan, Thailand and Belize. Much smaller amounts go to Belarus, the U.S and Turkey.
Armenia imports very little jewelry relative to local production and consumption. In 2014, the country imported 252 kilograms of jewelry at a valuation of $2.4 million. Over the past fifteen years the annual valuation of jewelry imports to Armenia hasn’t exceeded $3.14 million. Most of the imports come from Italy, Thailand, the U.S. and Turkey.
This data goes to prove that Armenia’s jewelry sector has the potential to expand its presence in the international market. Resolving the sector shortcomings will provide the opportunity to expand that potential.
Jewelry produced by Armenians, both in Armenia and the diaspora, is sold the world over. It is a craft that has been mastered and practiced in Armenia for centuries and has a rich tradition.


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While doing some more research on what has been labelled ‘social marketing,’ I stumbled across a number of articles, facts and figures that I have re written for us all to understand!!
In a nutshell, marketing experts have admitted they don’t understand how Twitter and Facebook work, despite two thirds agreeing that it is here to stay.
The Social Media and Marketing survey conducted by McCann Erickson found that 86% of marketing experts thought that social media is more than just a one hit wonder. Despite this positive feedback, 65.6%of marketers say they don’t know how to use social marketing sites to advertise and promote their business.
Many offices have revealed that IT departments have blocked access to sites like Twitter or Facebook-effectively stopping marketers monitoring how to fit their brand in with the ever expanding social trend. Currently over half of UK businesses using social media sites use them to raise their profile or PR, followed by 48% for networking and 30% for advertising.
Joanna Randall, Head of PR at McCann Erickson, Bristol, said, “This study highlights that some of the UK’s major businesses are ignoring social media channels — but they do so at their peril. Word of mouth is now more powerful than ever — opinions can be shared with a global audience at the click of a button.’’
Luckily for the the community of Bath, social networking is an area that Bath Marketing Consultancy understands and can help you use to your advantage! Why not ask us?


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Newegg Black Friday 2018 Ad Scan
"The Newegg Black Friday sale will begin on Monday, November 19th at 9AM PT and run through Saturday, November 24th at 11:59PM PT unless otherwise noted.
Make sure you subscribe to Newegg’s email notifications! They often send out email exclusive coupon codes and have been known to send out codes for prices even better than what is in their Black Friday ad! Make sure you sign up today!"


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You don’t think about a small business in middle America being targeted by hardened Russian cybercriminals, but that’s exactly what happened in the case of Smile Zone. This Missouri dental office caters to children, looking for ways to provide them with a higher comfort level with dental procedures. Smile Zone had not yet invested in […]
You don’t think about a small business in middle America being targeted by hardened Russian cybercriminals, but that’s exactly what happened in the case of Smile Zone. This Missouri dental office caters to children, looking for ways to provide them with a higher comfort level with dental procedures. Smile Zone had not yet invested in any aggressive cybersecurity measures, because they didn’t expect to become the target of malicious attack from overseas. Unfortunately, they were wrong, and their lack of planning for cybersecurity cost them over $200,000 due to a simple phishing scam — money that Smile Zone has never been able to recover.
It didn’t take long for investigators to determine the attack vector, as it was a simple phishing email that was launched on the computer that Smile Zone used to conduct their banking business. With the information stored on that computer, the Russian cybercriminal and his associates were able to tap into the bank account of Smile Zone and create a transaction for $205,000 that looked perfectly legitimate to the bank. Unfortunately, that also meant that the bank would not accept liability for the transaction — something that they would have done if the account were a consumer account instead of a business account. What’s worse, the cybercriminals left the back door of the business open so they could help themselves to more funds in the future if the vulnerability was not addressed in time.
It’s hard to imagine, but why would a well-known Russian hacker who was on the FBI’s Most Wanted List waste their time attacking a small business for “only” a few hundred thousand dollars? The answer is simple: small businesses are less likely to have invested in cybersecurity. Not only are the businesses perceived to be less secure, but cybercriminals are looking for an ongoing payday — not a one-time bankroll. Small to mid-size businesses may not even notice relatively small amounts being shifted around until the dollars add up to a significant amount of money. This allows these nation-state actors to slowly siphon away funds that could otherwise be used to fund payroll or grow the business. Even if small businesses do have passive cybersecurity, they may not be actively monitoring their transactions and systems in a way that would allow them to see the fraud happening in near-real time. Symantec defines the time between the injection of malware or a data breach to the discovery time as “dwell times“, and they average 191 days before many businesses discover that their systems have been compromised.
The unfortunate reality is that it’s difficult for the government, local police or anyone else to help regain access to your funds once they’ve been exfiltrated to a remote location. Hackers are extremely savvy, in taking just enough money that they can easily move it around without a lot of notice from others. It’s difficult for law enforcement to prove that there has been a crime, much less track down a slippery individual thousands of miles away from the crime. When your business suffers this type of loss, it’s unlikely that the money will ever be recovered — a devastating blow for a small business.
Fortunately, you don’t have to simply wait for your business to be hacked, and you don’t have to invest in over-the-top security solutions that are meant for enterprises instead of small to mid-size businesses. Your trusted technology services partner can help you understand the various options that are available to help protect your organization. This could include a variety of solutions:
Each business is unique, and working with your trusted IT managed services provider will offer more direct and detailed recommendations that will fit the unique needs of your business.
No one is expecting to be the target of a Russian hacker, and small businesses may be even less prepared than larger ones. No business is truly safe from cybercriminals unless your business is fully protected by a suite of cybersecurity measures that include active management of your infrastructure. It pays to invest a small amount upfront to protect your business from what could be a disastrous cyberattack in the future.


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By Shriya Roy
One of the worst affected sectors due to the coronavirus has been the F&B industry. With the virus having put a halt on people stepping out of their homes, fine dining especially has been struck a big blow. But high-end restaurant and hotel chains are now reinventing and finding new ways to reach consumers with the help of technology.
Interestingly, these places are no longer depending on delivery partners like Swiggy and Zomato to get their trademark dishes delivered to their customers’ homes. From frozen dishes to DIY meal kits, high-end hotels and restaurants are now delivering their food themselves. Many have also embraced the ‘cloud kitchen’ concept in the face of the uncertainty that looms over the future of the dine-in business. What’s aiding them is technology, which is at the forefront of all these initiatives.
Take, for instance, Taj Hotels (a subsidiary of the Indian Hotels Company Limited, or IHCL). The brand’s culinary experience can now be home-delivered. IHCL, south Asia’s largest hospitality company has announced the launch of its online food delivery platform called Qmin. Through it, consumers can order food from the brand’s five-star restaurants, including Golden Dragon and Souk from Taj Mahal Palace, Thai Pavilion and Trattoria from President, and Ming Yang from Taj Lands End, among others.
The mobile application is set to go live on July 25. Customers in Delhi-NCR can, however, call and order food till then. “This addition will augment the group’s food and beverage offerings, leveraging a digital platform to address a growing consumer demand for online gourmet food delivery services. Qmin will scale up in the months ahead to include the gourmet Qmin Shop with delicatessen-based food choices,” says Puneet Chhatwal, managing director and chief executive, Indian Hotels Company.
Another major five-star brand delivering food is Oberoi Hotels. All of Oberoi’s hotels around India, in fact, already had a home delivery system in place. The food ordered online or via call by a customer is carried in the hotel car and delivered at their doorstep by the hotel’s service professionals.
Restaurant company Lite Bite Foods, which owns brands like Punjab Grill, Zambar, Tres and You Mee, has also launched a food delivery app called FooGo, as well as introduced a cloud kitchen in Delhi. Then there is Impresario Handmade Restaurants, which owns popular joints like Smoke House Deli and Social, which has launched a tech-enabled platform for online ordering of food. Through it, consumers can directly order food through a WhatsApp-enabled link—the food will be delivered by the company’s delivery persons. Other popular brands like Faasos, Behrouz Biryani and Oven Story, operated by Rebel Foods, have also scaled up their apps and delivery mechanism amid the pandemic.
Allset, a US-based food pre-ordering platform, has gone ahead and launched a redesigned app, which makes it easier for diners to find and order food from local restaurants. No-contact pickup and contactless dine-in options are available that allow diners to view the menu, order, pay and tip before they enter the restaurant. The new features make the takeout and dine-in experience seamless.
A similar experience is being provided by Shoocal, an Indian pre-ordering and table reservation app, which aims at giving a wait-free dining experience at the nearest restaurant through its pre-ordering feature. In the wake of the social distancing norms, the app has added some latest features, providing an end-to-end contactless dining experience. A digital menu of the restaurant is made available to customers via a QR code placed on each table. Customers place an order by choosing a dish of their choice directly from the digital menu and a contactless pay service enables them to pay through an online wallet of their choice.
Global coffee chain Starbucks, which already had its personal mobile app, has made changes to it to enable delivery and a contactless experience. With the help of the new application, which will soon roll out in India, customers can place takeaway orders, customise them, pay online and pick them up later from the stores. The new app also allows customers to pre-order and pick up or scan a QR code outside the store to place their order. Curbside pickup from one’s car will also soon become possible. The popular brand has moved from ‘Sip and Stay’ to ‘Grab and Go’. According to reports, Starbucks plans to accelerate its digital experience and close up to 400 company-owned stores over the next 18 months.
McDonalds’ delivery app McDelivery has also added a contactless delivery feature to its pre-existing user interface. The food chain ramped up its mobile app delivery service, as lockdown and restrictions forced people to remain indoors. The app also gives customers personalised offers on the basis of their buying behaviour and preferences.
With major brands, hotels and restaurants focusing on their own personal digital platforms to keep customers engaged and services running, food delivery services like Zomato, Swiggy seem to have tough competition ahead.


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Few weeks ago, there was a report of iROKOtv shutting down its desktop site and going mobile-only. The streaming service will have to brace up as Afrostream, a new startup intends to give it a run for its money.
DON’T MISS: iROKOtv Shuts Down Desktop Site, Goes Mobile-Only
Afrostream will provide only African and non America movies. It’s going to be the Netflix of Africa, although, it’s not going to be limited to Africa.
According to TechCruch, the startup will launch in September with a subscription fee of €7 per month. At lauch, it would be available only in France, Belgium, Switzerland, Senegal and Ivory Coast. It is expected that Nigeria and some select Africa countries will follow afterwards.
Afrostream has already entered into agreement with major studios, independent American, African and British distributors.
“We want to entertain people and make a feel-good platform. A movie can elevate or inspire someone, and that’s why there’s so much excitement around us,” said Tonjé Bakang, CEO and founder of Afrostream.
The startup has already rised over $100,000 prior to launch. Afrostream will continue to seek for streaming rights as it expands in future. It’s not clear when this will happen in Nigeria’s Nollywood, but one thing is sure, Afrostream will strive to succeed where iROKOtv has succeeded; Africa’s biggest economy.


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Much is being made of the upcoming HTC M7, especially the fact that it is one of HTC’s biggest risks to date. The company is looking to gain back the market share given up to Samsung and other players over the last few quarters and is hoping for a much more profitable 2013. To do that, the M7 and any other new smartphones will need to be a hit.
One way in which HTC was able to stand out in the crowd was the way the Sense UI experience helped jazz up the Android experience. But, after a few years and seemingly similar iterations, the once-polished and friendly user interface looks dated.
The HTC M7 is slated to be the first Android smartphone to employ the Sense 5 UI, however previous models may get a new lease on life with a software update down the road. So, if you’re wondering exactly what Sense 5 might look like, wonder no more.
The seven screenshots accompanying this post come from a leaked ROM found over at XDA forums. The photos you see here are said to be running on a Droid DNA but originate from a Sprint version of the M7. For what it’s worth, rumors suggest that all four major carriers will offer the flagship device.