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Considering that the Super Retina XDR displays found on both the iPhone 11 Pro and iPhone 11 Pro Max are the best in the business, it’s not difficult to imagine what the iPhone 12 family will offer in terms of quality. After all, with both current-gen models earning the highest-ever A+ award from DisplayMate, there’s bound to be better news this year. As it turns out, there is, if a report is to be believed.
LG Might Provide LTPO Backplane Technology to Create a More Efficient iPhone 12 Display
LG Display, one of Apple’s suppliers for OLED screens will reportedly upgrade its production facility. The Elec reports that by deploying new equipment, the Korean manufacturer should be able to provide Apple with touch-integrated panels with LTPO backplane technology. LTPO backplane technology or low-temperature polycrystalline oxide is currently used in the Apple Watch Series 4 and Apple Watch Series 5, making them less power-hungry and up to 15 percent more efficient that the previous-generation LTPS, or low-temperature polysilicon technology that Apple currently uses in its iPhone models.
The use of LTPO backplane technology could reduce the thickness of the iPhone 12 display assembly, but the overall thickness value of the upcoming smartphones have not been disclosed. It’s possible the iPhone 12 retains the same thickness as its predecessors to accommodate for bigger battery capacities, and that combination would benefit customers in the end. LG’s new E6 display manufacturing lines are expected to be Apple-exclusive. It’s also possible that the new production method for making such displays costs less, but it’s unlikely that the tech giant will pass on these savings to customers.
Regardless, we should expect the iPhone 12 display to get super bright, making them easily visible outdoors, along with improved color accuracy, and less straining on the battery than before. Consumer Reports has already praised the iPhone 11 Pro Max for its battery endurance and with the combination of Apple’s 5nm EUV A14 Bionic, new display technology, and possibly bigger cell, we’ll get to experience an even better screen-on time when the iPhone 12 range officially releases in various markets.
News Source: The Elec


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Fans of Judge Dredd, Johnny Alpha, Zombo and the rest of "2000 AD's" eclectic cast have a lot to get excited about. As of today, March 30, Rebellion's has revealed exclusively to Comic Book Resources that its in-house digital distribution system has officially made "2000 AD" Prog 1776 and "Judge Dredd Megazine" #322 available digitally, 48 hours after the UK release date, marking the first time readers have had the option to read a digital copy of "2000 AD" the same week as print. Readers can choose between PDF and CBZ formats on the 2000 AD website DRM-free, something many larger publishers have been hesitant to offer.
Michael Molcher, PR Coordinator at Rebellion, said, "'2000 AD' was actually one of the earlier adopters of digital content in the industry and we've been digital for seven years now. But with both the 35th anniversary [of '2000 AD'] and the forthcoming Judge Dredd film, 'Dredd,' now seemed like the perfect time to up the ante and allow readers around the world the chance to read '2000 AD' within two days of it hitting UK newsstands -- we're bringing things way forward, practically to day-and-date."
Molcher refers to digital distributor Clickwheel, also owned by Rebellion, who has distributed (among other titles) "2000 AD" for several years while suffering from large lag times between the print release of a title and its digital version, sometimes taking up to a month. The goal of the new initiative is to cut that lag time down to 48 hours and offer the books for sale on their own website. Clickwheel will, for the time being, continue to offer digital versions of both "2000 AD" and the "Judge Dredd Megazine."
As to why Rebellion has chosen to make the switch to in-house digital distribution, Molcher said "we've got plenty of plans for the future of digital at '2000 AD,' so it made sense to do it ourselves. ... We are also very excited to announce that we are currently working on a new digital platform for '2000 AD.' More details will be unveiled over the next couple of months."
Molcher told CBR that while Rebellion does not currently plan to release any digital-only graphic novels at the moment, fans can look forward to the bagged-in graphic novels of reprint material packaged with each installment of "Judge Dredd Megazine" to be attached at the end of every "Megazine" digital issue.
"2000 AD" prog 1776 features fresh installments of "Judge Dredd," "She is Legend," "Nikolai Dante," and "Flesh." It also includes the second part of the much-hyped "The Zaucer of Zilk" storyline by Brendan McCarthy and Al Ewing.
"Judge Dredd Megazine" #322 is especially notable as the return of former "2000 AD" editor-in-chief and fan favorite writer Andy Diggle to the book with frequent collaborator Jock on their creator-owned project "Snapshot." It also features the "Megazine" debut of writing team Leah Moore and John Reppion on "Scouting for Bots."
"2000 AD" prog 1776 and "Judge Dredd Megazine" #322 will be available at www.2000adonline.com in both PDF and CBZ formats starting Friday, March 30. New issues will become available every Friday after their UK release.

domain: news


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I enjoyed Rogue One because it felt like they were taking a well-explored film genre and throwing a Star Wars skin over it, which is great. There are Star Wars shows in the works, as well as new Marvel projects, including a Loki TV series with Tom Hiddleston.
"Given the success of Hulu so far in terms of subscriber growth and the relative brand strength and other things, too, like demographics, we think there's an opportunity to increase investment in Hulu notably on the programming side", Iger said.
Launching its preview landing page, Disney has also confirmed that Fox's National Geographic will shift over to the service.
We still don't the how much Disney+ will cost or its exact launch date, but expect to find out more details soon enough.
Disney is trying to transform itself into a broad-based digital entertainment company as audiences move to Netflix, Alphabet's YouTube and other digital options.
Disney+ is also assembling a live-action series centered around a fan-favorite character from the Marvel Cinematic Universe. It's all because of Disney's purchase of Fox, who owns the streaming service, according to Tech Vibes.
The CEO also was upbeat about the prospects for Hulu, an on-demand and live TV service. This could be a reaction to Solo: A Star Wars Story's lackluster performance at the box office, but it's more than likely a play to ensure that Disney+ can attract as many subscribers as possible.
In a call with investors, Iger noted that the service will enable users to easily access content relating to each of its brands.
The expansive slate is now being announced little by little, with the most recent reveal confirming Tom Hiddleston's return as Loki from the Marvel Cinematic Universe in an original series of his own.
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Canonical unveiled the Ubuntu Edge smartphone on Indiegogo a few days back. At the time there was an option to grab the handset for $600, however that price was available only for that initial launch day. Once that ended the price jumped up to $830. Basically, if you missed the launch day special you were going to be paying $230 extra.
Well, it looks like that has already changed. Canonical has updated the Ubuntu Edge Indiegogo page and is now offering a few new price options. There aren’t any that are as low as $600, however there are several options at and around the $700 mark. The campaign now has an option at $675, $725 and $775. Not to mention that original $830 level still stands.
The original $600 offer is over and there was a $625 option however that has already sold-out. The $675 option has roughly 1200 spots remaining and the $725 and $775 options have nearly all of the 1250 spots remaining. And from that point, once those are sold out the price jumps to $830.
Canonical also had a message for those who jumped in on the $830 price level (and missed out on the lower prices that are now available). Basically, they will be offering the difference back.
“Hundreds of you have already contributed $830 for an Ubuntu Edge, but don’t worry. We’ll refund the difference at the end of the campaign so you won’t lose out. We’ll contact you all directly with more information.”
That all being said, it still remains to be seen whether Canonical will be able to reach their goal of $32 million. At present they have raised $4,690,037 towards the goal with 29 days still remaining. There had been some chatter about the $830 price point being on the high side, so maybe these additional levels can keep the interest going. And perhaps more important for Canonical — keep some in the process of opening their wallets.
VIA: OMG Ubuntu


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It’s been a busy month for the Electrification of Heat Service. We have recently published our latest heat pump country reports focusing on France, Italy and Germany and have already had the chance to discuss some of the findings at our recent European Heat Summit.
The results of our recent research and the forecasts we’ve made suggest a tentatively positive outlook for the European heat pump market. We have seen growth in some segments of the heat pump market in these three countries, as displayed in the graph below. The arrows show the expected direction of growth over the next few years.
Certain factors have affected the market growth – if stakeholders are able to contribute the effort required to drive the market forward, we could see a sturdier future for the market, more heat pump sales and a stronger heat pump industry.
A mostly positive outlook for France
In France, the outlook for electrically-driven heating is still positive, in spite of less market growth than previously predicted. We expect the total hydronic HP market to continue to grow in 2017 and 2018, but not to reach the rates of previous years.
A supportive policy environment and growing market acceptance will contribute to a significant increase in annual hydronic HP sales between 2017 and 2021, with DHW HPs taking the largest share.
While growth is expected, the low oil price has prevented higher sales, due to its prompting a boom in sales of oil boilers. The sustained low fossil fuel pricing means that there will be little incentive for end-users to replace them with heat pumps before their obsolescence, unless fuel prices start to rise again.
Italy’s new build sector increases HP market share
Heat pump sales make up a fairly small percentage of heating sales into residential properties in Italy, although the opportunity for growth looks promising. A hot summer in 2015 grew the a/a market significantly and other factors driving growth include the increasing regulation of the new build sector (boosting sales of air/water in particular), the increasing presence of new products (domestic hot water and hybrids), and an improving Italian economy.
Although the majority of sales of new heating appliances in 2016 were still gas boilers, heat pumps are beginning to take an increasing market share, especially in the new build sector where air/water heat pumps are a key technology to help meet regulations.
Germany shows signs of promising growth
We expect the space heating HP market in Germany to continue to grow in the next few years, with steady growth in air/water heat pump sales driven by their success in the new build sector.
There is growing concern in the market regarding noise from split air/water heat pumps, and technology developments are key to whether split or monobloc models will dominate this market in the future.
As with France, the oil price drop in recent years has prevented the continued growth of the DHW HP market, but on the other hand the space heating market – and in particular the GSHP market – performed well, due to the reform of the MAP incentive in 2015.
Although the European heat pump market hasn’t seen any dramatic changes in its progress and market growth remains gradual, the outlook remains positive.
It is now up to those in the industry to take this momentum and build on it, pushing forward heat pump sales and the growth of the industry. This, of course, would be great news for electrically-driven heat and a step towards an increasingly low carbon future.


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- Date: Nov. 4-5, 2021
- Venue: Amalie Arena, Tampa
- Agenda: Two days of presentations on the state of the fintech industry and its potential within the state of Florida as well as beyond its borders
- Tickets and Registration Info:
An ongoing business migration to southern Florida’s international hub for commerce and travel is also sweeping in tech companies, and next month’s Florida Bitcoin and Blockchain Summit has been designed to harness that innovative market energy with a two-day in-person gathering that delivers a “clear and unique strategy on making Florida the leader in blockchain and financial technology” (https://ibn.fm/hCjwI).
The Nov. 4 and 5 conference will take place at Tampa’s Amalie Arena, home of the current back-to-back NHL Stanley Cup Championship team the Tampa Bay Lightning. It will be organizer Chris Krimitsos’ second in-person event of the year in response to high demand for a timely gathering cognizant of the ongoing world pandemic conditions.
Krimitsos is the innovator behind Florida’s internationally popular Podfest conference series. The first Bitcoin and Blockchain Summit he launched this summer in Orlando with entrepreneur Gabe Higgins introduced their aim to bring together stakeholders, businesses, and political leaders from across Florida as well as from outside the state to forge a continued growth strategy for the industry.
“There is a lot of nuances to how blockchain is being used, but that’s the problem — we need to meet one another and know what everyone is doing, so we can have a cross-flow of ideas,” Krimitsos told business journal Tampa Bay Inno in June (https://ibn.fm/jHRQd). “You’ve got Miami, which the new financial capital of the country. And Tampa, Orlando, Jacksonville and other cities now have a huge opportunity to be the new Silicon Valley of blockchain if we play our cards right.”
The journal noted that the metropolitan region has already attracted a number of blockchain and crypto power generators, including Celsius crypto co-founder Nuke Goldstein, Tampa-based blockchain company Pocket Network and blockchain-focused BlockSpaces founded by HIggins.
The Tampa summit teams Krimitsos and Higgins with other Cutting Edge Events entrepreneurs to offer presentations in three tracks for beginners, stakeholders and advocates, bringing together both novices and experts to work in fostering growth within the blockchain and cryptocurrency sector.
Tampa Mayor Jane Castor and more than two dozen companies and educators will be among the presenters.
An associated Reach developers workshop on Nov. 5 at the Amalie Arena will provide the tools for developers to build blockchain applications in a matter of hours or days instead of weeks or months (https://ibn.fm/cuKqJ).
For further information on the November conference and to obtain tickets for the event, visit https://floridablockchainsummit.com.
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Jobs spoke with David Pogue of The New York Times, and explained that the iPod touch, unlike the iPod nano, was not given a camera because the company wanted to focus on portraying the device as a gaming machine. Jobs said that the company's main goal was to lower the price of the iPod touch as much as possible, and he believes it achieved that with a 8GB model for $199.
"What customers told us was, they started to see it as a game machine," Jobs said. "We started to market it that way, and it just took off. And now what we really see is itâs the lowest-cost way to the App Store, and thatâs the big draw. So what we were focused on is just reducing the price to $199. We donât need to add new stuff. We need to get the price down where everyone can afford it."
Third-party cases with camera holes and even photos and video of an alleged prototype of a third-generation iPod touch with camera existed well before Wednesday's event, leading many to assume such a product would be announced. While Jobs said the reason was intentional, AppleInsider received word earlier this week that the camera was removed due to bad hardware.
The chief executive went on to explain that the iPod nano can record video, but cannot take still pictures, because the sensors required for pictures are too thick to fit into the .02-inch thick device.
He also vaguely hinted at products coming in the future. He said his absence from the company for several months did not prevent them from working on new products, and that Apple has "some really good stuff coming up." Among those products is expected to be Apple's long-rumored 10-inch touchscreen tablet device, expected to debut in early 2010.
Jobs also discussed his health, as Wednesday's appearance was his first official in public since receiving a liver transplant earlier this year. The executive told Pogue that he's eating "a lot of ice cream" to put on weight, and he probably needs to gain about 30 pounds.
The Apple co-founder also took a jab at Amazon's Kindle e-book reader. He said "dedicated devices" like the Kindle will always remain niche products, while multi-purpose devices "will win the day." Jobs noted that Amazon doesn't announce how many Kindles it has sold, suggesting the market for e-books is very small.
"Usually, if they sell a lot of something, you want to tell everybody," he said.
Jobs' return to the stage at Wednesday's keynote was a welcome surprise for Apple fans. He had returned to work at Apple full-time in June, following his liver transplant. In his introduction at the iPod event, he thanked members of the Apple community for their concern, and also expressed gratitude toward co-workers who filled in, in his absence.
Apple's media event with Jobs' keynote is available for stream from Apple via QuickTime.


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Northeast San Antonio eyed for economic redevelopment
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A 1.8-mile stretch of land in Northeast San Antonio will be targeted for revitalization in order to encourage more private businesses to invest in this area.
City Council passed the Northeast Corridor Revitalization Plan last week to target reinvestment in two key commercial corridors: Perrin Beitel Road from Loop 410 to Thousand Oaks Drive and on Nacogdoches Road from Thousand Oaks Drive to O’Connor Road.
“This plan is a guiding document that articulates a new direction for the Nacogdoches and Perrin Beitel Corridors,” says Michael Taylor, Interim Assistant Director for the City’s Department of Planning and Community Development.
The plan will focus on organization, design, marketing and business development. The city will work to target vacant and underutilized properties for revitalization, attract retail and service businesses, and improve the appearance of buildings, signs and parking lots. A beautification campaign is already underway and city officials will host a second business development meeting in late August to discuss strategies.
“Approval of this plan is outstanding news for the businesses and neighborhoods on or near the corridor. I sincerely appreciate the support of my fellow council members in getting our revitalization effort started. These improvements are long overdue and will have profound and positive effects throughout this section of San Antonio,” said District 10 Councilman Mike Gallagher in a release.
Earlier this year, Walmart opened a new store at 4311 Thousand Oaks Drive.
James Aldridge oversees online content of the newspaper; edits and reports stories for the online edition.
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This week, our research team tracked more than 75 tech funding deals worth over €832 billion, and over 20 exits, M&A transactions, rumours, and related news stories across Europe.
As always, we are putting all weekly deals together for you in a list sent in our round-up newsletter (note: the full list is for paying customers only, and also comes in the form of a handy downloadable spreadsheet).
And don't forget: we're busy prepping for the next Tech.eu Summit, it's gonna be epic!
24 May in Brussels Expo
With that said, let's get down to business with the biggest European tech news items for the past couple of days (subscribe to our free newsletter to get this round-up in your inbox).
What happened this week in European Tech?
>> Notable and big funding rounds
Utrecht-based business transformation and IT services provider Conclusion has completed a refinancing round that will see €410 million of operating capital aimed at international expansion plans beginning with the expansion of existing operations in South Africa and Portugal.
London-based Electrify Video Partners has raised $50 million to invest in and acquire YouTube channels.
London-based Flock has raised $38 million in a Series B funding round led by Octopus Ventures with CommerzVentures, Social Capital (led by Chamath Palihapitia), Dig Ventures (the family office of MuleSoft Founder Ross Mason), Anthemis, and Foresight Ventures participating.
Madrid-based upskilling platform StudentFinance has raised €39 million in a Series A funding round comprised of both debt and equity.
Paris-based NLP startup SESAMm has raised €35 million in a Series B2 funding round.
Dutch battery innovator LeydenJar has landed a €30 million EIB 'quasi equity' financing round, backed by a European Commission guarantee, to scale up its technology and production.
With its no-code CRM interface, London's Attio is attempting to address decades-old architecture without undermining actual business utility from the underlying customer data. Recently the company raised $23.5 million in a Redpoint Ventures-led round also involving Balderton Capital and Point Nine.
Enapter, a green hydrogen production company based in Berlin, has secured a €25 million bearer bond with Patrimonium Middle Market Debt Fund.
Berlin-based health tech startup Doctorly has raised a $10 million Series A round to try and get rid of disk-based operating (DOS) healthcare systems.
>> Noteworthy acquisitions, mergers, IPOs and SPAC deals
Euronext has withdrawn an indicative €5.5 billion offer for investment-platform Allfunds after both sides were unable to agree on the terms of a takeover.
Arm has decided against selling shares on the London Stock Exchange for now, dealing a blow to UK politicians who were lobbying the home-grown technology giant ahead of its initial public offering.
Munich, Germany-based Infineon has signed a definitive agreement to acquire GaN Systems of Ontario, Canada (a fabless developer of gallium nitride-based power switching semiconductors for power conversion and control applications) for $830 million.
Inflexion makes its fourth investment in the Nordics and has acquired a majority stake in treasury and cash management software provider Nomentia from PSG Equity and Verdane. According to a report filed by Private Equity News, the deal is rumoured to be worth €300 million.
Offering credit, debit and pre-paid card services, Milan’s Nexi and Alicante-based Banco de Sabadell have come to an agreement that will see the former purchase 80 percent of the latter’s property PayComet for €280 million in upfront cash.
After entering administration on January 17, 2023, Britishvolt has now been acquired by Recharge Industries.
Paris-based Doctolib, a platform that helps make appointments with specialist doctors nearby, has acquired Amsterdam-based Siilo, a startup that offers an instant messaging app for communication between healthcare workers.
Fujitsu has submitted an offer to acquire Germany's GK Software, a provider of enterprise software catered to large retail company branches.
Summa Equity has acquired a majority stake in cybersecurity firm Logpoint.
London's Quantexa has acquired Aylien, a language processing software company based in Dublin, in a bid to empower its decision intelligence platform with enhanced unstructured data analysis and language modelling.
Global energy major Shell has struck a deal to acquire the evpass EV charging network in Switzerland.
>> Interesting moves from investors
Bonn-based High-Tech Gründerfonds has announced the closing of its fourth fund at a total value of €493.8 million.
Amsterdam-based StartGreen Capital, an impact investment firm, announced the launch of its sixth fund, the StartGreen Transition Fund (SGTF). The fund aims to hit the €200 million mark and is now open to investors.
The French entrepreneur who’s put his money behind unicorns like medical AI company Owkin and payroll software Payfit is now backing Resonance, a €150 million evergreen early-stage VC fund.
Investment firm Spex Capital has launched a fund to invest in health tech companies and is targeting a final close of €100 million.
With a track record spanning over 20 years, including EMEA founder and GVP at $33 billion IPO cloud data platform Snowflake, Thibaut Ceyrolle has become the latest Partner at Atomico.
The UK Space Agency has unveiled a £51 million funding package for space tech companies to create communication and navigation services for Moon missions.
The Czech government has plans to create a €55 million fund of funds to back three independent VCs.
Backed by Quantum Delta NL, QDNL Participations has launched a €15 million fund to support early-stage quantum technology startups in the Netherlands.
Sure Valley Ventures' SVV3 venture fund is announcing a €30 million inaugural close thanks to LPs including London-traded investment firm Pires Investments.
Barcelona-based Glovo has announced the launch of its own Impact Fund, according to the company the first-of-its-kind in the delivery industry.
Since the beginning of 2023, the Bulgarian VC fund for early-stage companies, Vitosha Venture Partners has invested €1.1 million in 8 local startups.
>> In other (important) news
Swedish payments group Klarna aims to return to profit by the summer, the "buy-now, pay-later" company said on Tuesday, as it reported wider losses for 2022 but an improving performance in the fourth quarter. Klarna posted a full-year operating loss of $1 billion.
EU antitrust regulators on Tuesday narrowed their case against Apple, focusing on its App Store rules that prevent developers from informing users of other purchasing options, while dropping another charge related to in-app payments.
Revolut has posted its first annual profit of £26.3 million in 2021, following a tripling of revenues to £636 million from £220 million in 2020. The numbers come from Revolut's annual report for the year, finally published after reported delays between the fintech company and its auditors BDO.
London-listed WANdisco, a 'big data' business with a valuation of close to £1 billion, is preparing to list its shares in the US.
The UK-based parent company of Stable Diffusion, an AI tool for making digital images, is seeking to raise money at a valuation of about $4 billion.
US tech giant Apple said Thursday it would spend an additional €1 billion on expanding its microchip design hub in Munich.
The European Parliament on Tuesday banned TikTok from staff devices over cybersecurity concerns, meaning the Chinese video-sharing app is now barred in all three of the EU’s main institutions.
The electric vehicles arm of Octopus Energy's parent company is seeking a £100 million funding boost to accelerate its growth amid soaring production of greener cars.
British audio and computing hardware startup Kano is planning to raise equity funding from its users and fans, as the company tries to chart a path forward after cutting business ties with Kanye West.
Parisian SME-focused payroll and HR management solution PayFit is in the process of reducing its workforce by 20%, affecting some 200 individuals.
The Financial Conduct Authority is monitoring the financial health of Railsr, the banking-as-a-service provider, amid emergency sale talks.
>> Recommended reads and listens
In a Tech.eu op-ed piece, Oleksandr Gryban, Deputy Minister of Economy of Ukraine outlines the investment initiative “Advantage Ukraine” and how and why investors should put their money in a country at war.
In an analysis of VC hiring trends over the course of 2022, Berlin and London accounted for 51.4 percent of all publicised job listings at 253.
The questions founders should be asking potential investors.
2022 sees Europe's IoT startups smashing funding records – 10 fundraisers to watch
February 2023 in European Tech: Deals, exits and continued falling numbers
Since the mid-2010s, blockchain pilots have looked to solve mobility challenges. While promising, none made it to market. But now, incoming battery regulations and EU blockchain technology investment offer a real opportunity for commercial use cases.
A new storytelling initiative will aim to encourage more women and minority entrepreneurs into the world of tech, taking on one of the main barriers to inclusion: a paucity of role models for aspiring female and minority innovators.
VCTs: The unsung hero of UK tech?
Another year at MWC is over in Barcelona. Beyond folding tablet and mobile screens and enterprise offerings, is a plethora of cool startups to check out.
How the Biggest Fraud in German History Unravelled
Bpifrance: Inside the machine powering French tech’s rise
Forget hybrid work or in-office perks. What employees really want is increased flexibility, particularly around when they work, which is why momentum behind a four-day week is gaining traction.
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>> European tech startups to watch
Robin AI scoops $10.5 million for its "lawyer-in-the-loop" generative AI model.
Brussels-based Cycle has raised $6 million in a seed funding round that will see the company further its end goal of becoming the be-all-end-all reference when it comes to product management.
Text-video transition company Colossyan has secured $5 million in Series A funding.
Silicon Valley Bank's UK subsidiary agreed terms on a venture debt facility with Humanising Autonomy, a UK-based developer of behaviour and computer vision AI that's bringing context to deep visual automation in mobility — including connected vehicles and traffic sensors — without infringing ethical standards.
UK-based Mendelian is preparing further trials of its AI case-finding tool for diagnosing rare diseases at scale after being awarded $1.4 million from a national health innovation grant making body.
Belgian legal tech Henchman has picked up another €6.5 million for its assisted contract drafting platform and now has a GPT-3 integration to further accelerate contract work.
Former L'Oreal, Palantir MVPs join forces, take £1.8 million pre-seed for Sourcerie beauty venture.
Germany's Secfix has locked down €3.6 million in an oversubscribed seed round led by pan-European VC Octopus Ventures.
London-based digital telco startup Devyce has raised $2.7 million in a seed funding round. The company plans to use the investment to spur on its ambition to create a global mobile network for business using its own mobile network.
Meeting the millennial demand for increasingly more and more flexibility, Jobgether offers nomads and remote workers a wheels-up method of finding work in one go.


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Hiring likely to boost spending despite gas prices
WASHINGTON -- Consumers as a whole will likely spend more this year, but it's not because we'll all be earning more money. Even people lucky enough to get a raise will likely spend most of the extra dollars to pay higher gas and food prices.
Yet employers are hiring more freely this year, and more people working means more money being spent to fuel the economy.
Read more of this story and more!
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Pakistan Ambassador to China, Moin ul Haque held a virtual meeting with Jason Wang, Director of Global Marketing, and Felix Xia, South Asia General Manager of Mindray as a part of the Embassy’s economic diplomacy outreach to the Chinese enterprises.
The ambassador was accompanied by the economic team of the Embassy. Pakistan’s Consul-General in Guangzhou and Honorary Investment Consul in Shenzhen also participated in the meeting.
In his opening remarks, Ambassador Haque expressed his appreciation for Mindray’s growing presence and business in Pakistan and discussed ways to further strengthen the company’s operations in Pakistan.
He sought details of the company’s activities and assured Mindray of the Embassy’s full support for its present and future endeavours in Pakistan.
Mindray leadership briefed the Ambassador about the company’s global operations and presence in Pakistan. Noting with satisfaction the growing business of the company in Pakistan despite the Covid-19 pandemic, the leadership briefed that the company provided a wide array of medical equipment to notable public and private hospitals in Pakistan.
The Chinese enterprise was also briefed on Pakistan’s investment policies, the incentives given to export-oriented manufacturers and the Government’s Special Technology Zones Authority.
Mindray is the largest manufacturer of international quality medical imaging devices and provides a wide range of medical device products to the global market, including advanced ultrasonography, scans, patient monitoring and lab equipment.—APP


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Article by Rosa Saba, Toronto Star
If you think you’ve seen an awful lot of new cannabis shops popping up around Toronto recently, it’s not your imagination.
While many businesses have been struggling during the pandemic, new cannabis retailers keep opening in the city and across Ontario.
Lisa Campbell, founder and CEO of cannabis sales and marketing company Mercari Agency, said that despite the sudden uptick in new stores there still aren’t enough — the biggest issue in the market right now is product oversupply, she says, relative to the number of shops.
“There’s a huge amount of lobbying on the industry front to increase the retail footprint, to increase access to address that oversupply issue,” she said.
In response, Health Canada has been licensing a lot of suppliers, said Campbell, and this has put the pressure on Ontario to speed up the process of approving retail stores.
They have done so quickly, resulting in a sudden surge in the number of pot shops in Toronto and across Ontario. On Dec. 8, 2020, the Alcohol and Gaming Commission of Ontario announced that it would be doubling the number of cannabis retail store authorizations per month, from 40 to 80, after it went from 20 to 40 three months earlier.
Last month alone, Ontario saw 83 new cannabis retail authorizations, 22 of which were in Toronto (not including the rest of the GTA). And as of Jan. 18, another 65 had been authorized this month, with 10 in Toronto. That’s compared to 21 new cannabis retail authorizations in all of Ontario last July.
According to the AGCO, as of Jan. 18, 2021, there are 359 authorized cannabis shops open in the province. One of those stores is The Neighbourhood Joint, which opened its doors in the Beach at the beginning of August 2020. Owned by a father-and-son duo, the store sports an unique system of pneumatic tubes for quick retrieval of stock.
Co-owner Andrew Rhodes said he and his father started planning and applying for the necessary licences just before the pandemic hit. By the time COVID-19 had shut down the city, it was clear there was “no going back,” he said, and they didn’t want to get pushed to the back of the line by waiting, so they pushed forward.
Once they opened their doors, Rhodes said business just kept going up — until the lockdown ended in-store shopping for cannabis retailers and thousands of other businesses provincewide. Then “things took a dive,” said Rhodes, though he’s optimistic that business will pick back up when normal shopping can resume.
Rhodes and Campbell said because of federal marketing restrictions, small cannabis retailers have to get creative to get their names out there. Many look for something to set them apart and garner media attention, said Campbell, like the pneumatic tubes in Rhodes’ store.
However, one of the tools at these businesses’ disposal — social media — was recently pulled from their hands. Near the end of 2020, Instagram did a big “purge” of cannabis-related accounts, said Rhodes, from producers to retailers. His store’s account was among the victims, and its loss “definitely hurt our overall presence.”
Campbell said many new Ontario retailers — especially small, independent ones — struggle to break into the market, faced with stiff competition from not only established stores, but also the illicit market. Those that opened during the pandemic face further challenges, deprived of foot traffic and limited in how they can market themselves.
The ability to deliver, granted during the pandemic, is helpful, added Campbell, but she and Rhodes hope it will be made permanent, like the province did for restaurants delivering alcohol. She also noted that the price of legal cannabis has been going down, likely in competition with the illicit market.
Last spring the average price of dried flower per gram on the Ontario Cannabis Store website fell below the average price of cannabis on illegal mail-order cannabis online stores for the first time — good news for consumers, but for the shops “it’s like a race to the bottom,” said Campbell.
Cannabis sales have climbed throughout the pandemic, according to Statistics Canada: in last October, the country’s total reached $270 million, after a steady increase for months from $201 million in June. In Ontario, the surge was steeper: from almost $49 million to almost $84 million in the same period.


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Durban - The 20th Cancer Association of South Africa’s (CANSA) Shavathon campaign will take place at the Gateway Theatre of Shopping this Saturday.
And the centre is looking to set a new record and hoping for a bumper turnout.
Back in 2002, the Shavathon campaign was started as a way to show solidarity with those affected by cancer.
Losing one’s hair is a common side-effect of cancer therapy – so shaving your head has become a symbolic gesture of support for cancer survivors.
There is also an option to colour your hair with a temporary spray, for those not ready for the more long-term effects of a shaved head.
“We love seeing Gateway visitors transforming their looks for this worthy cause once a year,” says Gateway marketing manager, Michelle Shelley.
“We are grateful to our visitors for supporting such a worthy cause and it’s our privilege to host the event.”
CANSA’s KZN Sustainability Coordinator, Natasha Brown said Gateway and its shoppers have been one of their biggest supporters for the past decade.
“We’re looking forward to a busy Saturday and invite everyone to come through and get their hair either shaved or coloured by our wonderful team of volunteers.”
To shave or spray in a variety of colours, requires a donation fee of only R50 per adult and R25 for children under 12 years and all funds raised go directly toward providing CANSA’s education and screening initiatives as well as care and support service to cancer patients and loved ones.
Stencils are available to add fun designs when spraying hair and donations of hair can be made toward making a wig for cancer survivors.
The colour spray is safe to use, being made of vegetable dye, and comes out when washing hair.
A limited-edition certificate of honour will be given to those who make hair donations of 25cm or longer.
Volunteers will be ready with their razors and hairspray from 9am on Saturday, 25 February and finish when shops close at 9pm on Saturday evening.


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WASHINGTON, DC (BRAIN) — Imports of adult bikes — 24-inch wheel sizes and higher — were up 292,875 bikes over the first quarter in 2012, a 20 percent increase, according to Thursday's release of bicycle import statistics from the U.S. Census Bureau.
The greater number of high-value adult bikes in the import mix and their higher average selling price pushed the average value of imports 20 percent over last year to $112 each.
The story is different for kids' bikes, down 374,424 bikes from the same period in 2012. Sidewalk and 20-inch imports were down 20 and 21 percent, respectively.
Overall, the slowdown in kids' imports brought imports overall down 2 percent for the quarter, a shortfall of 60,594 bikes.
Imports of 650b bikes also are starting to show up, indirectly. The government imports bikes under traditional wheel sizes, 20-inch, 24-inch, 26-inch and 700c, so 650b bikes do not readily fit those categories. But, imports under the “other” category grew by 20,955 bikes, a 200 percent increase. This could reflect imports of 650b bikes being captured in this category.


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Brick Brewing’s lime beer attracts suit
Brick Brewing Co. Ltd. (TSX:BRB) says it is being taken to court by the world’s largest beer maker, which claims the Ontario company has violated the trademarks and copyrights for Bud Light Lime. Brick says Anheuser-Busch, Inc. and Labatt Brewing Co., both subsidiaries of the world’s largest beer company, are seeking an injunction from the Federal Court of Canada. The beer giants also want compensation from the Waterloo, Ont.-based company or an accounting of profits from Brick’s sales of Red Baron Lime beer. Brick says it has had the Red Baron trademark for more than 20 years and did its research before launching the lime version of its beer this month. The Ontario beer maker says a suit by the subsidiaries of Anheuser-Busch InBev wasn’t a surprise and described it as a standard tactic to eliminate competition. Brick says it will defend itself from the legal challenge. Labatt accused Brick of piggy-backing on Bud Light Lime’s label, packaging and other design elements calling Brick’s labels and secondary packaging “very similar” to Bud Light Lime.
Bell, microsoft end online partnership
As more readers go online for free content, Bell (TSX:BCE) and software company Microsoft Corp. (Nasdaq:MSFT) are ending their website partnership to run their own sites and compete for ads. “With us seeing this exponential growth over the last five years, we can have two portals that are very profitable,” said Gary Anderson, Bell’s vice-president responsible for Sympatico.ca. Consumers who go to Sympatico.MSN.ca will be redirected on Tuesday to Bell’s Sympatico.ca. Microsoft will operate MSN.ca, ending an online partnership that was launched in 2004. Bell and Microsoft said Monday that growth in online advertising has made it possible for them to operate their own sites.


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Send this newsletter to an associate
|With a new James Bond movie on screens around the world, it’s perhaps fitting that Forkliftaction.com News is looking “to Russia, with love”. Next week, our special feature will look at the rapidly changing Russian forklift market, and while we have gathered some very valuable input, we’re still keen to hear from players in the market – especially dealers and local Russian manufacturers. If you haven’t yet been contacted by our editorial team, please shoot us an email to firstname.lastname@example.org, and we’ll follow up with a quick interview. And we promise you won’t be shaken or stirred!|
|Linde struggles in UK |
Basingstoke, United Kingdom
|By Bill Redmond|
Britain’s biggest forklift maker, Linde Material Handling UK, part of the Kion group, is struggling in a difficult market. In 2007, it made a pre-tax loss of GBP47,000 (USD72,000) on annual sales up by GBP5 million (USD7.74 million) to GBP329.3 million (USD509.5 million).
At the operating profit level, however, efficiency drives to cut distribution and administration costs led to a profit rise from GBP630,000 (USD973,00) to GBP7.4 million (USD11.4 million), but the improving picture was hit by an actuarial loss on the pension scheme of GBP20 million (USD30.9 million) compared with a gain of GBP8.8 million (USD13.6 million) in 2006. As in 2006, there is no dividend.
Negative working capital has dramatically improved since 2006 but still remains negative at GBP10.3 million (USD15.9 million). During 2007, an infusion of fresh capital saved the company from plunging even deeper into negative shareholder equity, which in 2006 stood at GBP6 million (USD9.2 million). Last year, the company converted ordinary redeemable shares of GBP42.8 million (USD66.1 million) into ordinary shares and issued GBP30.7 million (USD47.3 million) of new ordinary shares at par. At the end of the year, this left net shareholders’ funds of GBP56.7 million (USD87.4 million).
Linde has found the going tough in the UK market for the past seven years, racking up accumulated pre-tax losses of over GBP20 million (USD30.9 million) for that period and the directors continue to report that “the company suffers from cost pressures and competitor activity in its major markets which are expected to intensify in the coming year.” During 2007, it shed jobs, and then, in November this year, it announced further redundancies amounting to more than 10% of its labour force at its main Basingstoke factory, where it claims that orders received are now what drives forklift production.
Ultimately owned by private equity groups Goldman Sachs and Kohlberg Kravis Roberts & Co, Kion’s top management will be under rising pressure to turn the UK operation around after years of dismal performance, especially as its strong market areas in the East will weaken during next year.
Globally, Kion’s performance in the first half of 2008 seems encouraging, as it notched up rising sales of 9.3% to EUR2.26 billion (USD2.95 billion) in the first half of 2008 compared with the same half in 2007, but it reports that its market share in the first half for small and low-tech trucks fell slightly. Net income in the first half of 2008 was only EUR29 million (USD37.8 million), hardly the heady stuff investors expect from a heavily geared company posting significant first half sales. It is hardly surprising, perhaps, that Kion does not expect a stock market launch in 2009.
|NMHG, Komatsu reduce work force |
Greenville, NC, United States
|Manufacturing sites of Nacco Materials Handling Group (NMHG) in Greenville, North Carolina and Komatsu Forklift USA Inc in Covington, Georgia have reduced their labour force.|
“Like all companies, NMHG is facing tough economic times, and we are taking measures to weather the storm,” says Christina Kmetko, manager of finance with publicly traded parent firm Nacco Industries Inc in Mayfield Heights, Ohio.
The Greenville site employs about 1,100, but Kmetko declines to quantify the cutback, indicating that NMHG is adjusting staffing levels to meet current end-user demand for the products it makes under the Yale and Hyster brands.
Employees in Greenville learned about the reductions on 21 November.
The cyclical downturn in the forklift capital goods market resulted in lower NMHG orders in the Americas and Europe, according to Nacco’s 3 November third-quarter press release. “In addition, material cost increases and foreign currency movements are continuing to affect results negatively.”
At the beginning of 2008, NMHG had a backlog of unfilled orders for about 30,500 forklifts, worth about USD668 million. At that time, NMHG expected to substantially fill all of the orders during 2008. The backlog was about 26,000 units as of 30 September.
NMHG employed 6,700 persons as of 31 January.
For now, its wholesale business operates five manufacturing and assembly facilities in the Americas, five in Europe and three in the Asia Pacific, including a Japan joint venture with Sumitomo Heavy Industries Inc.
NMHG said in September it would cut about 90 positions in a Craigavon, Northern Ireland plant. A NMHG facility in Irvine, Scotland was slated for closure in early 2009.
Komatsu’s Covington site employs about 100 and manufactures equipment under the Komatsu and Tusk brands. The operation reportedly reduced its work force in October, eliminating about a dozen positions and offering non-disclosure severance packages. The firm declined to confirm the cutback or comment on the reasons.
Komatsu Forklift USA is an operation of publicly traded Komatsu Ltd of Tokyo. Regional subsidiary Komatsu America Corp of Rolling Meadows, Illinois oversees 12 manufacturing facilities and more than 30 corporate entities in the North American market.
Other Komatsu units manufacture forklift trucks in Oyama and Mooka, Japan and, since 2005 in a 10,000 sqm facility, in Jinan, China.
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|BLT opens facility |
Jacksonville, FL, United States
|MFT Distributors (Pty) Ltd Co, trading as Big Lift Trucks (BLT), has invested more than USD3 million in opening a distribution, warehousing and cross-docking logistics facility in Jacksonville.|
“We expect vibrant growth in the Jacksonville market,” says Ryan Mouritzen, BLT vice president. The six-acre site has a 33,000 square foot (2,970 sqm) warehouse and operations building, allocates three acres of the space for a secure yard for storage of full and empty containers and is located near the Blount Island facilities of the Jacksonville Port Authority.
“BLT is well positioned to offer value-added products and services due to the close proximity” to the recently opened Jacksonville terminals of Mitsui OSK Lines India Pvt Ltd of Mumbai, India and Hanjin Shipping Co Ltd of Seoul, South Korea, he notes. “The long-term expectations are extremely positive as many of the services that BLT offers in the warehouse and container yard are not easily found in the surrounding Jacksonville area.”
The Jacksonville operation has dealership contracts for container handlers and straddle carriers from Mobicon Systems Pty Ltd of Brendale, Australia and variable reach and side reach stacker trucks from Oy Meclift Ltd of Tampere, Finland.
In Africa, parent firm Big Lift Trucks (Pty) Ltd of Durban, South Africa distributes Mobicon and Meclift equipment along with container handlers from Taylor Machine Works Inc of Louisville, Mississippi, United States and surface feeders and mobile ship loaders from Aumund Group unit B&W Mechanical Handling Ltd of Ely, England.
In Jacksonville, BLT’s cross-docking equipment can unload containers from incoming trailers and immediately load the units onto outbound vehicles. As needed, the staging areas can sort, consolidate and store materials until an outbound shipment is ready to leave, and the site has 24/7 camera surveillance and high intensity lighting.
The cross-docking service can significantly decrease a user’s inventory storage and streamline the flow between suppliers and manufacturers.
Florida State Representative Stan Jordan of Jacksonville cut the ribbon at a ceremony opening the BLT facility, which initially employs five and began revenue-generating operations in August.
The Jacksonville international trade seaport employs more than 7,000, supports another 43,000 jobs and has Blount Island, Talleyrand and Dames Point terminals that can handle container, automobile, bulk, break-bulk and refrigerated cargo.
|Fantuzzi purchase may not go ahead |
Westport, CT, United States
|Terex Corporation has been given the go-ahead by the European Commission (EC) to finalise its acquisition of Italian port equipment manufacturer Fantuzzi Industries. However, the sale may not proceed after Terex announced concerns about a “material adverse change”.|
In a statement to the US Securities Exchange Commission, Terex says it has informed Fantuzzi “it believes that a material adverse change may exist with respect to the Fantuzzi business or other grounds exist which may preclude completion of this acquisition”.
The EC approved the deal on November 19, saying it found the purchase would not impede competition in the European Union. “The commission’s examination of the proposed transaction showed that the horizontal overlap between the parties' activities is limited and that they would continue to face several strong, effective competitors with significant market shares. The commission therefore concluded that the proposed acquisition would not raise competition concerns.”
Terex announced in August it had reached an agreement to acquire Fantuzzi Industries for approximately EUR215 million (USD318 million). The transaction was subject to the EC’s approval (Forkliftaction.com News #374) .
Terex has asked Fantuzzi for more information so it can clarify if there has been any change to the Italian manufacturer’s business and to the conditions that must be met for the purchase to go ahead.
Fantuzzi has issued a statement saying it is 'extremely surprised' by Terex's announcement.
|Skyjack extends Christmas shut-down |
|Aerial work platform manufacturer Skyjack will close its Guelph plant for four weeks instead of three at Christmas because of a reduction in orders. Skyjack's third-quarter results released early this month saw a 21.3% decrease in demand.|
Ken McDougall, president of Skyjack, says the outlook for 2009 did not warrant keeping the factory open for longer over the Christmas period. “We do not see a level of demand that would warrant another week’s worth of inventory being manufactured this year. We came to a decision to extend this shut-down period in the Scissor plant."
In the past, the company has closed the factory for two weeks to allow for the Christmas holiday, inventory and annual maintenance. However, due to the lighter market demand, Skyjack extended that to three weeks.
"I think we are in store for an interesting 12 to 18 months," says McDougall. “I hope at some point in 2009 we will see the light at the end of the tunnel. I think the industry is strong and we are going through a correction cycle that has been heightened by the global economic conditions.”
|Auctioneers succeed in new market |
|Industrial equipment auctioneer Ritchie Bros. held its first multi-million dollar auction in Poland this month, selling more than EUR5 million (USD7 million) of materials handling equipment.|
The unreserved public auction was held in the city of Sosnowiec, near Katowice, with more than 200 people attending. Brian Butzelaar, Ritchie Bros divisional manager, says the auction included equipment from close to 40 companies, including H.E. Services (Plant Hire) Ltd.
“The auction was a success in many ways: prices were strong, the consignors were pleased with the results, and hundreds of people had the opportunity to experience a true unreserved auction for the first time ever.
“More than 460 items were sold on auction day,” he says. “Among the equipment sold were forklifts, telescopic forklifts, scissor lifts, boom lifts, hydraulic excavators, mini- and midi-excavators, loader backhoes, dumpers… and more.”
Butzelaar says more than 200 people from 26 countries registered to bid on-site and online at the auction in Poland. “Most of the equipment was purchased by buyers from across Western and Eastern Europe.”
Ritchie Bros. first established an office in Krakow, Poland in 2005 to service its customers there. Previously, many would travel to auctions held in other parts of the world or bid online. Butzelaar says demand for an auction in Poland has been growing, especially since unreserved public equipment auctions are not common there.
|Hyster demonstrates beverage industry solutions |
|Materials handling equipment manufacturer Hyster exhibited its range of handling solutions at the recent BRAU Bevial 2008. |
Hyster demonstrated a selection of forklifts adapted specifically for use in the beverage industry at the annual industry show.
Gavin Tull, major accounts manager for Hyster, says the drinks industry requires specific solutions tailored to suit individual applications. “When purchasing materials handling equipment, many of our customers need to consider optimising visibility over tall loads, short-term hire solutions for peak seasonal periods, or even preventing the risk of an explosion.”
Hyster supplies materials handling solutions to a number of European beverage companies including Coca-Cola in the Czech Republic, Romania and Poland, European brewer Plzensky Prazdroj and global drinks company Diageo in Scotland.
“Hyster helped to increase the overall efficiency of Coca-Cola in the Czech Republic by providing double pallet handling attachments,” says Tull. “The production line is served by H3.0FT Fortens IC-engine forklifts that can transport two pallets at the same time, where two 1.5 tonne trucks were used (previously).”
Hyster’s customers in the beverage industry use raised-operator Fortens forklifts to maximise visibility over fully laden forks. The double pallet handler attachment can carry three pallets of beverages or six pallets of empty packaging per load.
The S7.0FT Fortens “Spacesaver” forklifts are a compact short wheelbase design with a 7-tonne lifting capacity that maximises the available storage space. This forklift has the same lifting capabilities as a standard 7-tonne H7.0FT Fortens truck, but delivers similar manoeuvrability to a smaller capacity forklift.
Specialist equipment such as explosion protection can be required when handling flammable liquids in the beverage industry. Hyster has pyroban explosion-protected forklifts to help manage the risk of explosion.
|Depot buys new ECH |
Wilmington, CA, United States
|A West Coast depot service provider will be one of the first to use Hoist Liftruck’s new modular design empty container handler (ECH) for its ISO containers. |
Fast Lane Transportation has ordered two six-high ECH units for its Wilmington and Oakland depots.
Patrick Wilson, president of Fast Lane, says the price and strength of the warranty were the main reasons for selecting this product “and since it is made in the United States, the availability of parts and service.”
Wilson says Hoist has a proven track record in the equipment handling industry “and they customised the ECH for my specific business requirements”.
The new ECH is designed so the units can be shipped in containers and can be set up in minimal time. Marty Flaska, president of Hoist Liftruck, says this can save a customer as much as 25% on shipping and setup costs. “The modular design also provides efficient serviceability with bolt‐on assemblies for easy part replacement.
“The same heavy-duty foundation and quality design of our P Series pneumatic line is being carried over to the Hoist ECH,” he says.
The ECH mast features a rigid inner mast and telescoping outer mast, which reduces torsional stresses and increases durability. The wide‐view mast, high‐position cab with angled overhead glass and ‘dashless’ design give the operator excellent visibility.
Flaska says the Hoist ECH has gained interest worldwide. “There has been a lot of interest from Asia and South America and many are scheduling visits to the United States to view the new units.
“The anticipation of our ECH line has been tremendous. We are actually beginning to see the same interest from the wind energy market,” he says.
|Bread maker buys fleet of order pickers |
Essex, United Kingdom
|A UK bakery’s recent purchase of a fleet of specially designed low-level order pickers will help it get bread out to supermarkets faster and more efficiently.|
Jungheinrich has supplied 51 EKS 105s to Hovis Bakery, part of Premier Foods, on a five-year contract hire deal. The low-level order picker (LLOP) has been designed to Hovis’s specification to provide efficient, safe and dependable order picking and internal transport in the company’s three distribution centres.
The regional distribution centre at Dagenham, Essex received 30 of the new Jungheinrich order pickers, 18 went to Motherwell, Scotland and three to Mendelsham, Suffolk.
The three distribution centres deliver 9,000 orders per day to a range of outlets throughout the UK, placing huge demands on the order pickers.
Jim Wright, equipment manager at Hovis, says, “We had been using the old Jungheinrich trucks since the Dagenham site opened in April 2002. We’ve worked them extremely hard compared to most users but they actually lasted longer than we would have expected.”
The LLOP features a cage attachment that allows three stacks to be handled at one time. The cage attachment has chamfered leading edges to guide the stacks straight inside with a slightly wider aperture to allow easier entry without catching.
Hovis found that when the 1.87 metre (6.1 feet) stacks are in the cage, the driver’s forward view was obscured, so Jungheinrich developed dual controls that allow the driver to operate the LLOP in either direction while still facing the direction of travel.
“This is more efficient and certainly safer, and safety takes priority over everything, in the whole of our operation,” says Wright.
In the past, Hovis found the order pickers would ground when they travelled over the dock leveller into a trailer, due to the variety of trailer heights and specifications. The LLOP has been designed to give greater ground clearance.
|Industry may seek AWP training standards |
Rosemont, IL, United States
|The possibility of setting global training standards for aerial-work-platform (AWP) operators has activated senior managers of some North American AWP makers and rental firms.|
Representatives from six manufacturers and 10 rental companies met on 11 November in Rosemont near Chicago’s O’Hare International Airport to pinpoint the need and possible avenues toward standards.
Participants reviewed existing national and international regulations and standards, heard how other industries address training and discussed aspects of training.
Multiple issues were found, and the managers determined a need to review activities of other trade groups, governmental agencies and unions that have involvement with AWP operator training and best-practice benchmarking.
In an unofficial capacity, the Milnthorpe, England-based International Powered Access Federation (IPAF) convened the meeting, agreed with participants to work on the research and planned to set up another meeting during the American Rental Association show from 2-5 March in Atlanta, Georgia.
An APEX 2008 keynote address of industry executive Ken McDougall prompted the Rosemont meeting. McDougall is president of equipment manufacturer Skyjack Inc of Guelph, Ontario, Canada, a unit of Linamar Corp since its purchase in 2002.
“Operator training is paramount to ensuring the access industry is made safer,” notes McDougall during his 17 September APEX remarks in Maastricht, the Netherlands. “The more educated and trained we can have all operators of access equipment globally trained to a documented standard, the better off the access industry is.”
McDougall suggests that a global standardised and accredited training program is the best way to ensure implementing training on a consistent basis.
“We will not ensure uniformity and consistency in training by conducting ‘back of the truck’ sessions that may vary depending on the allotted time and the skill of the person conducting the training,” McDougall observes. “Although this type of training is not globally mandated, it is up to us to actively support and encourage training through all levels of the organisation.”
In 2006, McDougall completed an IPAF-approved AWP training program and received his powered access licence or PAL card. “Our training people didn’t cut me any slack,” he says. “Skyjack supports the IPAF AWP training program globally.”
While IPAF issues more than 70,000 PAL cards annually, the senior managers look beyond the audited and TÜV-certified IPAF program for meaningful standardisation of AWP operator training.
|Online service training for Genie products |
Redmond, WA, United States
|Terex Aerial Work Platforms has introduced a free online training course to help technicians learn more about servicing and repairing Genie products. |
The 12-lesson interactive course covers basic electrical theory and has a quiz at the end of each lesson so the technician can review the information. Participants who achieve 80% or more on the last exam will receive a certificate.
Steve Gooding, director of national accounts support and factory training at Terex AWP, says it is important to get training information into the hands of customers. “Our online service training program is a new avenue to reach our dealers and to provide essential, valuable training opportunities 24/7, anywhere there is an internet connection.”
Steve Howe, technical training manager at United Rentals in California, who completed the basic electrical course, says the online course is an exciting, efficient new training tool for customers. “Terex AWP online service training is a simple, interactive online classroom that enhances knowledge about servicing Genie equipment.”
The next online course will be on hydraulic theory.
|Neighbours lose forklifts to thieves|
Watertown, NY, United States
|Thieves have stolen materials handling equipment from across-the-street businesses in an industrial park in unincorporated Jefferson County near Watertown.|
The county sheriff’s department and New York state police are seeking additional information in investigations of separate incidents at the Fisher Road facilities of Timeless Frames LLC and Northeast Rentals & Sales.
Investigators for both agencies “are looking at like crimes in other parts of the state” and would welcome input, says Michael Pastuf, senior investigator in the state police office at Watertown.
Detective Scott Sterling with the sheriff’s office reports Timeless Frames lost a Clark CMP 30 forklift with a 10,000 pound (4,500 kg) lifting capacity and a value of about USD15,000, a Toyota 7FGCU25 forklift with a 5,000 pound (2,250 kg) capacity and value of about USD8,900 and a Crown WP2335-45 self-propelled hand lift crate mover worth about USD4,000.
The perpetrators opened a portion of a metal wall to gain access to the Timeless Frames equipment during the weekend of 1 November. Timeless Frames occupies three buildings and manufactures picture frames for sale through retail outlets.
A week later, Northeast Rentals lost a Yale GLCO50 forklift with a 5,000 pound (2,250 kg) lifting capacity and value of USD11,000 and a Cat 226B skid-steer loader with a 1,500 pound (675 kg) lifting-mode capacity - and a value of USD30,000. “There were also computers taken from within the offices” of the equipment dealer, Pastuf notes.
Northeast Rentals & Sales represents 18 materials handling brands including JCB, Terex, Lull, Caterpillar and Deere.
Jefferson County shares a border with the Canadian province of Ontario along an extensive Lake Ontario shoreline in upper central New York State.
|Linde secures forklift contract |
Sydney, New South Wales, Australia
|Linde Material Handling Australia has secured a contract to supply slurry equipment specialist Weir Minerals with over 50 forklifts on a five-year, fully maintained lease basis.|
“Forklifts have been supplied over a period of months, with the first delivered in May 2008,” says Rod Chapman, Linde general manager - sales and marketing.
He tells Forkliftaction.com News that the contract includes LPG units ranging from 2.5 tonnes up to 5 tonnes as well as some battery-electric units, pallet movers and reach trucks.
As part of its ongoing program of quality control, Weir reviewed its forklift operations and decided to rationalise its mixture of hired and owned equipment by selecting a single supplier which would also provide a management service for the forklift range.
In finding a new supplier, Weir looked at a number of companies, before selecting three to participate in practical trial periods at its manufacturing facility in Sydney.
During the trial, the company focused on occupational health and safety, service and maintenance and productivity. Environmental issues were also a concern as was the level of after-sales support and the scope for finding long-term improvement.
Linde made an immediate impression. According to Anita Andrasy of Weir, “All our operators agreed that Linde’s hydrostatic transmission makes it much easier to operate the machines as it’s more user friendly than standard transmissions. The Linde forklifts also had lower emissions than the others – both in fuel and noise.”
The Linde Fleet Management System, which reduces misuse of forklifts to avoid potential damage occurring, also played a big part in the company’s decision to choose Linde.
“Before you even start the forklift, you need to do a safety check and start programme. If this isn’t done, then after five minutes it will slow down to 1 or 2km/h and start beeping, letting the driver know they must do the check,” explains Andrasy.
She adds, “If the vehicle is damaged in any way, then an email or SMS is immediately sent to a manager and this also helps discipline the operators. The system also reports when a vehicle is due for maintenance.”
“Even during the trials, we could see the positive impact that Linde was having on our business – lower costs, better productivity and reduced down time. So far we’ve had no problems with them at all, which proves our decision was the right one!”
Linde also provided Weir with a dedicated account representative to ensure the smooth operation of the fleet.
|Paperless supply chain from port to customer |
Melbourne, Victoria, Australia
|Salta Group subsidiary Westgate Ports has opened a large-scale container logistics centre at Victoria Dock, the first of its kind to operate without paper across the whole supply chain from port to customer.|
Westgate Ports’ chief executive officer, Michael Haines, says the company’s paperless operation is unique.
“Our new system allows clients to pinpoint the location and status of containers in real time, watch trucks live via GPS, receive email alerts and manage jobs online - all without any paper, greatly improving accuracy and timeliness of delivery. We are using state-of-the-art IT equipment and systems to achieve this,” says Haines.
The centre services freight forwarders, customs brokers and the general business community by speeding both exports and imports.
According to Salta Group executive chairman Sam Tarascio, the smooth flow of information facilitates the smooth flow of freight.
“We are proud of this fantastic 21st Century facility. It represents the first stage of our long-term plan that will ease pressure on inner-city roads, improve safety and reduce carbon emissions and noise,” says Tarascio.
Westgate Ports is transforming the 21 hectare site through an AUD80 million redevelopment to become a world-class operation that provides clients with a one-stop-shop for all container-related and break-bulk services.
Located only 500 metres from the entry point to the international terminals, the facility comprises a 17,500sqm warehouse, a 50,000sqm container hardstand storage area and a separate 5,400sqm warehouse with a dual-gauge rail terminal.
Victoria Dock will become the vital hub between port operations and the freight catchment areas of Altona in the west and Lyndhurst in the south-east. Westgate Ports has approval to set up inland ports in these areas that will be linked via a mix of existing and upgraded road transport and rail infrastructure, as well as through hubs in regional Victoria and interstate.
|Forklift training fills gap |
Melbourne, Victoria, Australia
|A hands-on transport and warehousing course offered by Victoria University has taken top honours at the recent Australian Supply Chain and Logistics Awards.|
The institution’s Ready to Work program won the Training, Education and Development category, beating finalists from other universities, government organisations and private companies.
The four-week program helps tackle Australia’s shortage of logistics and transport workers by fast-tracking students into the industry. It offers a comprehensive range of hands-on and classroom transport and warehousing training, taught in nationally accredited competency units.
Explains Peter Jacobson, head of VU’s Industry Skills Training, “Anyone can get a forklift licence, but are they ready to work? This training fills the gaps and ensures that new starters have the background knowledge to be productive from the first day.”
Taught by trainers direct from the industry, the course includes the basics of driving a heavy vehicle, securing cargo, operating a forklift, workplace communication, fatigue management, navigating by maps, occupational health and safety, and teamwork.
A major drawcard of the program is the opportunity to get work quickly after participants complete the course. One of the course’s major partners, family-owned business, Peter Sadler Transport, has already recruited several employees.
The course can be tailored to address skills shortages in specific areas of the industry. One session was custom-made and run exclusively for female employees of Australia Post.
Students are recruited through job networks or training organisations, or can register directly. The program has clear links to further study at higher certificate levels.
|Enfield freight terminal on track |
Enfield, New South Wales, Australia
|Sydney Ports’ newest freight terminal facility, the AUD150 million Intermodal Logistics Centre (ILC) at Enfield, has begun the search for tenants and operators.|
When fully operational, the ILC will include:
• a 12 hectare terminal catering for up to 300,000 containers per annum to be moved by rail to and from Port Botany;
• eight hectares of empty container storage;
• 70,000 square metres of distribution centre/warehousing; and
• up to 44,000 square metres of light industrial/commercial floor space.
According to Ports and Waterways Minister Joe Tripodi, the development would help the government to achieve its target of moving 40% of containers by rail.
“The development of the ILC will bring a range of benefits to the logistics chain including helping move more containers closer to their final destination by rail in a way that is more efficient and environmentally friendly,” says Tripodi.
He claims the Enfield Intermodal will mean 300 fewer truck movements per day around the Airport, Port Botany and Marrickville, or nearly 80,000 fewer movements per year.
“More importantly, there’ll be 240,000 fewer truck movements per year between Port Botany and Enfield, with direct rail links to Port Botany allowing containers to be moved by rail without entering the passenger rail network.
“We expect to have some quality submissions from operators and tenants who want to be a part of this significant development.”
|Port opens trade office in Tasmania|
Hobart, Tasmania, Australia
|Australia’s largest container and general cargo port has opened a dedicated office in Tasmania to facilitate trade.|
With almost 3,600 ship visits a year from over 30 shipping lines, the Port of Melbourne is a vital logistics hub for Tasmania’s access to domestic and international markets. Last financial year, Tasmania accounted for around 25% of the port’s containerised trade and is forecast to grow.
PoMC chief executive officer Stephen Bradford says it makes business sense. “Tasmania is a key trade market so it is entirely appropriate that we recognise its importance by having a dedicated representative on the ground.”
“Melbourne is a world-class port which is underpinned by ongoing capital investment by PoMC. Last financial year we invested over $140,000 a day, on average, in port infrastructure.
“As a result, we offer a wide variety of facilities and services and we have already identified a number of strategic initiatives to facilitate trade growth for Tasmania.”
|2008 Mercury Awards winners|
Sydney, New South Wales, Australia
|Top achievers in supply chain management were celebrated at Logistics Magazine’s third annual Mercury Awards Gala dinner held in Sydney last week.|
Among the winners in seven awards categories were:
• Logistics Leader (sponsor SmartTrans): DHL
• Top Transport & Logistics Provider (sponsor CHEP): Hills Transport
• Best Manufacturer (sponsor Toyota Material Handling): Smith's Pepsico
• Technology Application (sponsor TIG International): Peacock Bros.
• Australian Trader (sponsor Schenker Australia): The Hunter Valley Coal Chain Logistics Team.
• Young Professional of the Year (sponsor 3Logix): Matthew Baker of Powerhouse Logistics
• Best of the Best (sponsor Dematic): Smith's Pepsico
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Editorial Calendar 2009
Rough Terrain forklifts
Safety products in MH
Forklift Market in Canada
Forklift Market in the United Kingdom
Fleet & Asset management
Narrow Aisle forklifts
Forklift batteries and power solutions
Forklift Market in India


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Amazon seems to want its smartphone app to span more than just traditional online shopping.
As its customers have spilled into the mobile space, the e-commerce giant has turned its flagship app into something of a testing ground for the small-screen shopping experience of the future. It now boasts a slew of experimental features beyond Amazon’s standard store listings—some of which are impressive and potentially game-changing, others puzzling and superfluous.
Among other things, you can solicit personalized fashion feedback from live stylists, judge items against your home decor in augmented reality, or immediately link to the Amazon page of any real-world object with the point of a camera. Read more…
More about Apps, Amazon, Ecommerce, and Business


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Hooray. The U.S. economy has recovered so quickly that it is now bigger than it was before the pandemic. But it’s not time to celebrate yet.
After a sizzling annual growth rate of 6.5% in the spring, the size of the economy surpassed its pre-coronavirus peak. And it h*pened much faster than virtually anyone would have expected a year ago.
“Last year the US economy was on the verge of a Great Depression at that time,” said Chief Economist Scott Anderson of the Bank of the West. “Much of the leisure, hospitality, and service industries have been on their backs, and the US unemployment rate has hovered around 10.2%. What a difference a year makes. ”
Still, the economy is still not nearly as big as it would have been without the pandemic. Economists estimate that it is about 2.7% smaller than it would have been without COVID.
Well, 2.7% may not sound like much, but in a $ 22 trillion economy, a lot of jobs, worker wages, and corporate profits are missing.
The lack of jobs is still a major problem for the economy.
Although most of the 22 million people laid off at the start of the pandemic have returned to work, the labor force is still 6.7 million short of workers.
The labor shortage has become one of the major headwinds to economic recovery.
Many companies cannot find enough workers to serve guests, clean hotel rooms, build houses or manufacture industrial goods. Even higher wages or recruitment bonuses were not enough to get more people back into work.
People are returning to the job market, but not as quickly as companies would like.
Economists estimate the US created about 900,000 new jobs in July, which has cut official unemployment a few ticks to 5.7% when the data is released next Friday. This would mean that the economy would still be short of almost 6 million jobs.
See: MarketWatch economic calendar
Surveys of the unemployed show that up to a few million extra unemployment benefits introduced during the pandemic make enough to stay at home. Half of the US states recently suspended additional federal benefit payments in an attempt to get people back to work.
Millions of others say they are staying home to care for young children or aging relatives. Others are still concerned about contracting the coronavirus.
The popular belief was that these people would go back to work in the fall, when schools and nursing homes fully reopen and additional unemployment benefits run out.
However, this view is being challenged by the recent surge in coronavirus cases due to the more contagious Delta strain.
Biden’s government is urging people in many parts of the country where the virus is spreading to wear masks again.
Read: The withdrawal of unemployment claims from the two-month high in the sign delta did not do much harm
However, the delta variant alone should not be enough to inhibit recovery.
Federal Reserve Chairman Jerome Powell pointed out last week that each new wave of coronavirus cases has done less damage to the US economy. Businesses and consumers have largely learned to ad*t, he noted.
Perh*s the greatest danger is that the delta variant will harm other countries even more and keep the global economy in suspense. Trade between countries is severely disrupted and one of the offshoots is rising inflation.
Read: Inflation rises again in June as the US economy suffers from congestion
Take manufacturing. US companies cannot get enough supplies, much of which are produced overseas, to supply all of the goods Americans crave. Car production in particular was slowed down by the lack of computer chips.
These problems are likely to last well into the fall – replacing the day the US economy fully recovers.
“After a brilliant start to the global recovery, it is becoming more and more *parent that the last mile will be the toughest due to supply problems and the spread of the Delta variant,” said chief economist Douglas Porter of BMO C*ital Markets.


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LAS VEGAS -- Odds are good your clients think of this area as a
premier spot to gamble. But have they considered coming here for a
"There's another new reason to come to Las Vegas: Shop till you
drop," said George Connor, senior vice president of retail
properties for Colliers International, a real estate company based
in Las Vegas.
"You'll be able to go to the same upscale stores and enjoy fine
dining here just as you do in New York or Chicago."
The Las Vegas Strip, which now has 2.2 million square feet of
space, will add another 4 million square feet of new shops in the
next two years, according to Connor.
"That will mean a 2.5-mile stretch of the Strip where shoppers
will have available the very best found anywhere in the world --
the best restaurants and shops. Show me anywhere else in the world
where that's happening," he said. In fact, that would mean more
shopping along the Strip than can be found at the Mall of America
in Minneapolis, which, at 4 million square feet, is generally
recognized as the largest shopping center in the country.
The Strip itself is more than four miles long, but the shopping
area has been concentrated in the 2.5-mile stretch between the
Mandalay Bay hotel and the Fashion Show Mall, the largest retail
outlet on the strip.
Connor said it's no accident that upscale retail is moving to
Vegas. Fancier resorts and a surge in hotel rooms, many of them
upscale, help promote retail demand. "The average tourist only
gambles for four hours. They have plenty of time for other
activities such as shopping. And they want upscale shops," he
He said the development is part of Las Vegas' evolution from a
gambling mecca to an all-around tourist destination.
Among retail outlets coming to the Strip over the next two years
are:The Grande Canal Shoppes at the Venetian resort, which
eventually will have 500,000 square feet of space.A 32,000-square-foot Rue de la Paix upscale French shopping
area at Paris Las Vegas, opening in December.TrizecHahn Development Corp.'s $250 million,
500,000-square-foot Desert Passage retail center at the new
Aladdin, set to open in 2000.A 1 million-square-foot retail center linking the Mandalay Bay
and Luxor hotel-casinos.
Nordstrom, the Seattle-based retailer known for its personal
service, is opening a three-level, 210,000-square-foot store at the
In addition to new retail, many existing centers are expanding.
The Fashion Show Mall, for example, recently began the first phase
of its remodeling and expansion plan, set for completion in fall
2002. The Rouse Co., manager and owner of the mall, plans to double
its size to 1.8 million square feet.
The Fashion Show Mall will be anchored by seven department
stores, including newcomers Lord & Taylor and Bloomingdale's,
making it the second-largest retail venue in the Southwest. It also
will be one of the largest shopping malls in the country.
And the future of retail? "I think you'll see continuing growth
for the next decade," said Connor.


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An anonymous bitcoin analyst and institutional investor PlanB are feeling bullish about bitcoin, and it is something they all loved to see. A few hours ago, the anonymous analyst took to his twitter account to leave some exciting news for bitcoin investors, a most welcome development since many investors are still in high spirits from the just concluded Bitcoin Miami 2022. What’s the news?
The institutional investor has given an update on how fast bitcoin will hit 100,000 and he seems pretty positive about it. We’ll also have another exciting update from the Luna Foundation Guard, so make sure you watch the video to the very end and hit the like button. Thanks for watching the video.
Let’s begin with PlanB’s tweets. The pseudonymous analyst and institutional investor is a staunch bitcoin bull, known especially for his stock-to-flow model. In his most recent tweet, PlanB predicts that bitcoin realize cap, the average cost price of all 19 million bitcoins, will lead the asset to its next all-time high. He also states that he expects this to happen when the realized cap hits 750 billion dollars. Here is PlanB’s tweet.
“#bitcoin price can go down, but realized cap not so much, thanks to hodler’s efforts. In fact, realized cap (average cost price of all 19M BTC / 80M utxo) is near ATH at $466B. I have no doubt that the realized cap will lead BTC to the next price ATH. I expect $100K BTC at ≈$750B realized cap.”
The current all-time high for bitcoin is $69,000, a milestone the cryptocurrency hit last November. If it tops that, many experts believe the momentum will continue until bitcoin hits the coveted six-figure mark. According to data from Messari, bitcoin’s realized cap hit an ATH of 377 billion dollars in May 2021. Six months later, by mid-November, it had risen to 460 billion dollars, though bitcoin lost roughly half of its value during the November crash. The realized cap has remained nearly the same. As PlanB claims in his tweet, the realized cap is trending closely to the ATH. This may indicate that long-term hodlers are indeed directing the market. If it continues this momentum, we may soon see bitcoin at a hundred thousand dollars. Let us know what you think about PlanB’s tweet in the comments section.
Now let’s move to our second update about the world’s largest cryptocurrency. Luna Foundation Guard has obtained another 4,130 bitcoin for its stable coin dollar decentralized forks reserve. Using bitcoin’s exchange rate on the day of the transactions, Terra spent around $176 million on the purchase, which involved 4 transactions. The transactions occurred on Sunday, April 10. With the latest purchase, Terra now holds 39,897 bitcoins worth approximately $1.7 billion. Terra has also bought about $200 million in avalanche in order to diversify the reserves for its stable coin beyond bitcoin. According to reports, the purchase was shared between TerraForm Labs and Luna Foundation Guard, the two main institutions behind the development of the blockchain platform. Terra now has almost 40,000 bitcoins worth over $1.7 billion. However, the platform’s goal, according to the CEO’s initial announcement, is to acquire around 10 billion dollars’ worth of bitcoin. Terra will continue to strengthen its reserves by buying more bitcoin, and this will be bullish for both Bitcoin and Luna. At the time of writing, bitcoin is trading just above $42,000, down 1,30% in the last 24 hours.
Luna, the Terra blockchain’s native token, is down 6% at $91 as the market continues its most recent correction. However, analysts are certain that we may see an upward momentum for the top cryptocurrency soon.
A quick word from our sponsor of today’s video – D’CENT Wallet! D’CENT biometric wallet is the world’s first hardware wallet with biometric authentication and Bluetooth connectivity. The device allows users to store their cryptocurrencies on offline secure hardware free from cyberattacks and scammers. It sports an advanced and easy-to-use design that allows users to create a new wallet or recover an existing one and perform transactions on the go.
- The biometric wallet features a biometric scanner for extra security. Only your fingerprints and a secure pin can open your biometric wallet, so even if you lose the device, your asset stays safe and protected.
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- This single hardware wallet supports more than 40 main networks and thousands of tokens. D’CENT also provides a mobile application, a card-type wallet, and an online wallet for extra convenience. The mobile application supports all three types of wallets and can be used to access them all simultaneously.


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Systems management vendor, Quest Software, has hired its first partner manager in an effort to drive more sales through the channel.
Fiona McFarland will be responsible for working closely with Quest’s partner network and will report to partner and alliances manager, Graham Dean.
Managing director, Laurence Cole, said the vendor was heavily investing in building up its channel capability and enablement.
“Fiona is a key element on how we build that out,” he said.
Quest traditionally focused on direct sales but had 70 per cent of the business direct and 30 per cent indirect at the start of the year, Cole said.
“To date it’s close to 60 per cent through the channel and 40 per cent direct,” he said. “Our goal is to achieve 80 per cent fulfilment through the channel and we’ll probably get there next year.”
Due to Quest’s broad product range, Cole said he would like to attract niche partners that have a broad services capability and ones that focus on specific areas such as archiving or identity management.
“We’re looking for partners that have deep expertise in and around those particular market segments or technology sectors,” he said. “We’re really using this year as a discovery year and that includes understanding what our partners and the market is looking for.”
Prior to joining Quest, McFarland has worked with Cisco, Nortel, Trend Micro, Symantec and Express Data.


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Most firms anticipate dent in earningsMost Korean listed companies are projected to post worse-than-forecast earnings for the third quarter as the global economic slowdown hurts their profitability, data showed yesterday.
Ninety-one of 118 major listed firms said their operating profit outlook had been downgraded from projections made earlier this month, according to data complied by FnGuide.
The data showed 21 respondents revised up their profit projection, but the scope of the upgrade was mostly marginal. Three firms are estimated to have logged an operating loss in the July-September period and the remaining three companies kept their original forecast, according to FnGuide.
The bleak outlook mainly came as Asia’s fourth-largest economy loses steam on weaker exports and sluggish domestic demand, beset by the protracted euro zone debt crisis.
Petrochemical firms, steelmakers, machinery makers and telecommunications companies were cited by analysts as candidates likely to see a sharp deterioration in earnings.
Market leader Samsung Electronics put its Q3 operating profit at a record 8.1 trillion won ($7.36 billion) due to brisk sales of smartphones. Other major exporters, however, including Hyundai Motor, are expected to announce worse-than-forecast bottom lines, analysts say.
Kumho Petrochemical’s operating profit is likely to reach 68.7 billion won, down 68.7 percent from a year earlier, according to the data. Posco is expected to see a 15.6 percent dip to 1.09 trillion won, it added.
Telecommunications companies’ earnings outlook also remained cloudy as their moves to lure subscribers over to the LTE service raised marketing costs, analysts said.
Top mobile carrier SK Telecom’s operating profit may reach 353.6 billion won, down 33.1 percent from the previous year, and top fixed-line operator KT’s bottom line is likely to fall 29.6 percent on-year to 363.6 billion won for the quarter, the data showed.
Korea relies heavily on exports but global economic headwinds led the country’s overseas shipment to post an on-year contraction for the third straight month in September.
Domestic demand also remains subdued as high household debt curbs consumer spending and companies delay big capital investment.
Market watchers added that corporate earnings may recover soon. “As the U.S. and China are estimated to have hit bottom, Korean companies’ earnings are likely to recover in the fourth quarter,” said Kwak Byoung-yeol, an analyst at Eugene Investment & Securities. Yonhap