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Spending on Internet of Things (IoT) technologies in the Middle East and Africa (MEA) is set to top $8.47 billion this year, according to the latest f
Spending on Internet of Things (IoT) technologies in the Middle East and Africa (MEA) is set to top $8.47 billion this year, according to the latest forecast from global technology research and consulting firm International Data Corporation (IDC).
A recent update to the firm’s Worldwide Semiannual Internet of Things Spending Guide shows that IoT spending in the MEA region will grow 15.9% year on year in 2019 and reach $17.63 billion by 2023 as governments and businesses ramp up their investments in digital transformation projects.
The big four countries in the region, namely South Africa ($1.9 billion), Saudi Arabia ($1.49 billion), Turkey ($1.24 billion), and the UAE ($0.65 billion), are expected to account for 62% of total IoT expenditure in the MEA region in 2019. The industries that are expected to spend the most on IoT solutions in 2019 are manufacturing ($1.52 billion), government ($1.11 billion), consumer ($1.09billion), transportation ($1.06 billion), and utilities ($0.73 billion).
Manufacturers will direct most of their IoT spending in 2019 towards solutions that support manufacturing operations and production asset management. In the government sector, public infrastructure asset management, public safety and emergency response, and intelligent transport systems, will account for over 66% of IoT spending in 2019.
Over 75% of consumer IoT spending in 2019 will be driven by investments around smart home technologies, remote health monitoring, and connected vehicles.
In the transportation sector, fleet management and freight monitoring solutions together will account for approximately 80% of IoT spending in 2019.
Meanwhile, smart grids for electricity will account for 78% of total IoT spending in the utilities sector.
“IoT adoption in the MEA region is expected to accelerate over the coming years as organizations from both the public and private sectors look to improve their provision of customer services, expedite decision making, improve the quality of products and services, accelerate their time to market, reduce costs, and increase productivity,” says Krishna Chinta, program manager for telecommunications and IoT at IDC MEA.
“And as organizations continue to reap the value generated by IoT, we can expect to see further development of innovative industry-specific solutions.”


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The first cryptocurrency renewed its all-time high, breaking the $ 60,000 mark. The jump in the BTC price to new heights was accompanied by a surge in torgov volumes .
On the largest crypto exchange Binance, paired with the stablecoin USDT, the price of bitcoin managed to reach a maximum at around $ 60,200. The market capitalization of BTC is $ 1.11 trillion, the dominance index is 60.4%.
The rise of digital gold has revitalized the broader market. This is how the top 10 of the CoinMarketCap ranking looks like at the time of writing:
Rafael Schulze-Kraft, co-founder and CTO of Glassnode, reported that short positions in Bitcoin futures worth $ 100 million were liquidated in 10 minutes.
$100m+ short liquidations within 10 minutes.
Don’t bet against #Bitcoin
– Rafael Schultze-Kraft (@ n3ocortex) March 13, 2021
He also advised the community not to bet against the first cryptocurrency.
Earlier, the head of the cryptocurrency exchange, Jesse Powell, expressed the opinion that the bitcoin rate will reach $ 1 million within 10 years.
In February, Elon Musk joined a flash mob referring to Bitcoin for $ 100,000 by installing an image of an anime girl with glowing red eyes on his Twitter profile and the logo of the first cryptocurrency in the background.
Binance Pay launched – a crypto payment service from the largest cryptocurrency exchange
The largest cryptocurrency exchange Binance has launched a contactless crypto payment service Binance Pay, which allows users to pay, send and receive crypto payments around the world.
Borderless payments from user to user
Binance CEO Changpeng Zhao (CZ) said Binance Pay is another step towards the future of crypto payments.
“Traditional payment infrastructure services are riddled with high transaction fees. We see this payment product as a solution to one of the many problems and limitations of traditional finance. Finance is the direction that is really moving towards the digital world, and cryptography is at the heart of these changes , ”commented CZ.
In February last year, Binance released a beta version of Binance Pay exclusively for peer-to-peer payments. At this time, about 250,000 users were testing the service’s capabilities. Today Binance Pay is available for both peer-to-peer payments and trade transactions.
Today the payment service supports 30 types of cryptocurrencies. The first participant in the Binance Pay payment system was the Travala.com company, which offers users more than 3 million travel products around the world. Due to the overwhelming response to Binance Pay Merchant services, the service is currently available on a first come, first served basis.
Crypto payments are becoming mainstream
Even last year, experts assured that crypto payments would become as commonplace as payments with cards or electronic money. And the reason for this will be the massive adoption of cryptocurrencies against the backdrop of a complex and expensive traditional payment system.
This is the conclusion made by experts from Wirex and the Stellar Development Foundation based on the results of a joint study. According to the findings, the growing need for cross-border financial transactions and user dissatisfaction with existing mainstream solutions can stimulate massive adoption of cryptocurrencies.
And PayPal CEO Dan Shulman is confident that cryptocurrency payments will become part of the global financial system.
“I think if we can create a new financial system based on modern technology, which is faster, cheaper, more efficient, we can increase financial inclusion, reduce the cost of making payments and, ultimately, improve the financial situation of many people […] So that in the long term I am very optimistic about all digital currencies , ”said Shulman.

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Federally funded electric vehicle tax credits contained in the Cut Inflation Act enacted this summer have prompted the Volkswagen Group, and in particular Audi, to take a hard look at expanding its footprint. manufacturing in North America, potentially including what would be Audi’s first plant in the United States.
In an exclusive interview, Oliver Hoffmann, Head of Technical Development at Audi, said the new rules “will have a huge impact on our strategy here” in North America.
“To be honest, we look right and left: what can be the opportunity for us to come together with a strong [Volkswagen Group] in the background,” Hoffman said, speaking from Audi’s design center in Malibu, Calif. “And now we’re on the right track, especially since the rules have changed and you know that the government is spending a lot on electric vehicles, with special circumstances, and we look forward to seeing how we can meet these requirements.”
He continued: “For us we have great opportunities within the group for that to happen, with our platform release strategies it’s a great opportunity for us. And we’re going to look where we want to produce our cars. in the future.”
Under former CEO Herbert Diess, VW Group brands have pledged to phase out internal combustion vehicles across much of the world by 2035 and have worked to consolidate their dozens of future electric vehicles on a single platform. For the group’s brands that sell new vehicles in the United States – mainly VW, Audi and Porsche – a single shared assembly plant in the United States with locally sourced battery production could help these brands benefit from tax incentives for their electric vehicles, provided they fall under the price limit of $55,000 for sedans, hatchbacks and station wagons, and $80,000 for pickup trucks and SUVs.
The VW ID4, now produced in Chattanooga, is the only group electric vehicle eligible for the Inflation Reduction Act incentives.
Audi’s only North American assembly plant is in San José Chiapa, Mexico, where it builds the Q5 crossover.
The brand’s new Q4 E-tron and Q4 E-tron Sportback compact crossover EVs are built on the same platform as the VW ID4 and could potentially share an assembly line with that vehicle in Chattanooga, though no announcement has not been made. The group recently signed an agreement with the Government of Canada to use minerals mined in Canada for future battery production.
Hoffmann suggested that a decision on expanding Audi EV production in North America could be made in early 2023.
The brand’s electric vehicles are all imported into the United States. He said he and other Audi brand executives have been “really impressed” with how quickly electric vehicles have grown in the United States, despite geographic and charging infrastructure issues.
“I think with these new rules it will also have a huge impact on our strategy here, and to be honest whereabouts of cars here,” Hoffmann said. “We have a strong history here, but for us it’s a huge chance to grow here in [the U.S.]also the premium market with our EV models.”
In other comments, Hoffmann and Audi design chief Marc Lichte said the brand’s recent Sphere concepts are more than just exercises in electric vehicle design, but point to several futuristic traits that will figure prominently. place in the next Audi production vehicles in the second half of this decade.
“I think from 2026 you’ll see a completely different set of our cars,” Hoffmann said, “where we see huge advancements overall, in terms of steering and new technologies. And we we’re really looking forward to showing these cars.”
“The Grandsphere is a concrete teaser of a serious production model,” Lichte said. “I work with my team and engineers from [Hoffmann’s] team right now on this project. The process takes about four or four and a half years, so you know exactly when we’re going to market.”
Lichte said the conversion of internal combustion engine vehicles to electric vehicles has reversed the way cars are designed and developed. Due to battery packaging requirements, Audi now designs the vehicles interior first “and works our way to the powertrain and ultimately the exterior design”.
Lichte also said the skateboard battery pack makes it more difficult to design classic sedans because of the extra height required to accommodate under-cabin energy storage.
“Some of the biggest talks between Ollie and I are over. [roof] height,” said the veteran designer.


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DIGICEL CONTINUES PACIFIC ROLLOUT OF MOBILE MONEY SERVICE WITH TONGA LAUNCH
Thursday, 13 January 2011 – Nuku’alofa, Tonga: Digicel has continued the Pacific rollout of the ground breaking “Digicel Mobile Money” service with a launch in Tonga today, which sees Digicel customers in the Kingdom offered a range of mobile financial capabilities including the ability to transfer money to friends and family nationwide and pay utility bills using their mobiles.
Digicel Mobile Money was first launched in Fiji in July 2010 with Tonga, through the support of the Reserve Bank, becoming the second of Digicel’s six Pacific markets to launch the innovative service. In November 2010 Digicel also launched a “Tcho Tcho Mobile” Money service in Haiti.
Digicel mobile phones in Tonga will now become electronic wallets offering a secure and convenient way to transfer money to any Digicel Mobile in Tonga, deposit or withdraw cash from their electronic wallets, buy and send Top Up and pay a range of utility bills including Tonga Power, DigiNet and DigiTV.
Customers can simply deposit or withdraw money from their mobile wallet at any of Digicel’s nationwide network of stores and at authorized Digicel Mobile Money Agents across the country and can register for the service by simply dialling *888#.
The project, regulated by the Reserve Bank of Tonga, is supported by the United Nations Development Programme’s Pacific Financial Inclusion Fund (PFIP) with a view to promoting financial inclusion within Tonga and the Pacific Islands. Digicel Mobile Money aims to assist in addressing the needs of the 70% of Pacific Islanders who do not have access to basic financial services and will be launched in Samoa. Vanuatu, Papua New Guinea and Nauru in the coming months. Earlier this month Digicel’s Tcho Tcho Mobile Money service in Haiti was awarded a US$2.5 million prize by the Bill & Melinda Gates Foundation and the U.S. Government Agency for International Development (USAID) for being the first to launch a mobile money service in Haiti.
Paul Stafford, CEO Digicel Tonga said; “Following the successful launch of Digicel Mobile Money in Fiji, we believe the service will have an immediate and positive impact on the lives of Tongans as has been experienced in Fiji. When you consider the number of people who do not have access to basic financial services in the Pacific, Digicel Mobile Money transforms the way our customers receive, handle and transfer money and pay bills.”
Mr Stafford added; “Our ambition is to offer this service across all our six Pacific markets and we are delighted to be able to work in partnership the Reserve Bank of Tonga and other Reserve Banks as well as the PFIP and we can look forward, together, to the positive impact of Mobile Money for communities in Tonga and the region.”
Governor of the Reserve Bank of Tonga, Joyce Mafi said; “The Reserve Bank has been working closely with Digicel to advise and encourage the development of this innovative service. The Reserve Bank supports rural outreach and is delighted to see the innovation being applied here in Tonga.”
Graham Steven ‘Esau, Finance Manager for Tonga Power says; “Tonga Power strives to ensure quality service is provided to the people of Tonga, the Mobile Money bill payment service provided by Digicel is a convenient and easy way for the people of Tonga to settle their electricity bills and Tonga Power is proud to be part of this new initiative by Digicel.”
Tillman Bruett, Technical Advisor of the PFIP said; “This is another important step forward in bringing access to safe and affordable financial services to the estimated 70% of Pacific islanders that are unbanked. The majority of low income households in the Pacific need an affordable and a safe means to store and move money. We are supporting a number of initiatives in the region and are happy to be working with Digicel in Tonga and the Pacific elsewhere to meet this need.”
Summary of Digicel Mobile Money services:
• Simple, secure mobile to mobile money transfers
• Cash lodgement and withdrawals at Digicel outlets nationwide, and through Digicel Mobile
• The ability to instantly buy and send Top Up
• Pay bills such as Electricity, Digicel postpaid bills, DigiTV & DigiNet
• Check balance and transaction history and manage security password


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Some of you may have read the great news about Hamish McLennan joining Tiger Pistol. The story was published on June 19th in The Australian, but as the article requires a subscription, we thought we’d give you the skinny on our blog.
McLennan has a long and prestigious career in the global advertising and media space, including as Executive Vice President, Office of the Chairman at News Corp and global Chairman & CEO of Young and Rubicam (Y&R), which is part of WPP, the world’s’ largest communications services group. Currently, he is Chairman and non-executive Director of REA Group Limited, a multinational digital advertising company that specializes in property and is listed on the ASX. He is also a Director of the leading ASX listed funds management company, Magellan Financial Group. Prior to REA and Magellan, and the aforementioned roles at News Corp and Y&R, he was Executive Chairman and Chief Executive Officer of Ten Network Holdings. He joined Y&R in 2002 as Chairman and CEO of Y&R Brands Australia/New Zealand, one of the largest marketing services groups in Australia, and led the firm’s global business operations from 2006. He has previously served on the Boards of Directors for the United Negro College Fund (UNCF) and the US Ad Council.
Accustomed to being part of large-scale, global media and advertising companies, McLennan decided to join Tiger Pistol because of his long-held interest in tech startups that address immediate needs in the marketplace.
“Tiger Pistol is a great Australian success story. The founders have created a world-class ad tech platform. I can help forge some strategic partnerships, and hopefully do some deals and open some doors,” McLennan said. “From my 30 years in the media and marketing industry, the holy grail has been to deliver hyperlocal communications at scale in an automated fashion. Tiger Pistol can now deliver it.”
McLennan went on to say that Tiger Pistol’s proprietary technology platform will help “instil confidence in marketers about the effectiveness of their digital spend.”
Specifically, Tiger Pistol makes it possible to rapidly scale Facebook and Instagram ads run at the local level. Large brands with multiple locations can now more effectively drive business to local stores, while maintaining consistency and control at the brand-level. For digital agencies that provide advertising services to local businesses, they can now quickly add Facebook and Instagram ad products to their digital portfolio and scale immediately and effectively for their customers.
Steve Hibberd, co-founder and CEO of Tiger Pistol said, “We’re delighted to have Hamish join our team. Through his many years in the global media and advertising space, he brings immense knowledge and insight. His clear belief in what we’re doing is a resounding endorsement and he is already having a positive impact.


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A new “smart patch” determines caloric intake and expenditure.
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Microsoft is making its own Xbox game streaming devices for TVs
Today, Microsoft expanded on its ambitious plans for gaming. As usual, this includes Xbox Game Pass and its various SKUs, but more importantly, part of Xbox Game Pass Ultimate is game streaming. And if you’re a Microsoft watcher, then you know that the cloud is where it’s at. Microsoft has a ton of plans to bring Xbox game streaming to more devices.
As part of today’s announcement, a big push is once again that the Redmond firm wants to bring its game streaming services to anywhere that you are. For one thing, Microsoft is working with TV manufacturers to build the service into their smart TVs. With that, you wouldn’t even have to go and download an app to start playing AAA console games on your TV, let alone get new hardware.
But if you don’t get the app on your smart TV, Microsoft is going to have new hardware for you. While this has been rumored quite a bit in the past, the company confirmed today that it’s actually working on an Xbox game streaming device, which will turn any TV into a game streaming machine. Microsoft didn’t confirm the form factor, but this seems like something that would be a dongle, since it’s really not meant to do anything else.
That’s not all, because this was actually a pretty big announcement. Cloud gaming is set to launch in more regions, including Australia, Brazil, Mexico, and Japan; that will happen later on this year.
Most of the announcements are pretty vague, like confirming a cloud gaming device but not actually saying anything about it. Another example is that Microsoft says it’s exploring more subscription options for Xbox Game Pass; this sounds more like something that will exclusively offer Xbox cloud gaming, but at a lower price point.
One specific piece of news to come out of the announcement is that later this year, Xbox game streaming will be available in the Xbox app for PC. This was something that was promised a while back, but when Xbox cloud gaming for PC launched, it was through a browser experience. Now, you’ll get a native app. And finally, Microsoft is in the “final stages” of upgrading its datacenters to Xbox Series X consoles, so when streaming, you get the best that the firm has to offer.


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New site on the cards as French company get back to production as quickly as possible.
Part of French Delpierre’s sushi factory in Boulogne-sur-Mer in the north coast of France went up in flames last Wednesday, with firefighters tacking the fire from the early hours.
According to Les Marches, the management is determined to restart production as soon as possible, even before the fire damage is repaired.
Management has announced that production could resume as early as March in a cold storage warehouse in nearby Capécure.
“We are not closing any doors,” said Stanislas Giraud, general manager Marée et Métiers Labeyrie Fine Foods – owners of Delpierre. He pointed out that sushi production was based on the particular know-how of the teams and on equipment that is only found in Japan or the United Kingdom. And considered that insurance companies have an interest in reindustrializing as soon as possible, the time being in the inventory.
The fire has affected the storage of raw materials, the production (300 to 400 tonnes per year) of sushi, sales forecasting services and shipments of seafood, which are carried over to two other sites, the publication wrote.


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Read customer reviews across Google, Facebook, and Yelp, in one place.
Coffee fans, raise a mug. Saturday is the ultimate deal day.
Sept. 29 is National Coffee Day and restaurants, convenience stores and online retailers alike are toasting the made-up holiday by serving up free coffee and discounted brew.
Some businesses are offering an early caffeine fix including the Coupons.com cashback app, which has rebate deal Friday. Buy a cup of coffee at restaurants including McDonald’s and Burger King, and get up to $1.50 back when you submit your receipt through the app.
Starbucks is included in the rebate offer, but the coffee giant isn’t offering any specials of its own. As in past years, the company will mark the day by giving back.
“This National Coffee Day, we’re focused on providing continued assistance to help Puerto Rico recover following the devastation of Hurricane Maria one year ago, where the coffee industry was decimated,” Starbucks said in a statement to USA TODAY.
Local coffee shops are expected to be busier than usual Saturday, too.
According to Womply, a small business software provider, National Coffee Day was good for local coffee shops in 2017.
“If you run a coffee shop, expect a huge surge in foot traffic on National Coffee Day,” said Brad Plothow, Womply’s vice president of brand and communications. “One way to take full advantage is to run deals and promotions that encourage a larger average order, since ticket size is typically lower despite increased foot traffic.”
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Things are pointing to Dead Rising 5 being in development at Capcom Vancouver, now that the publisher has opted to kill Puzzle Fighter (on mobile) in order to funnel its utilized resources and manpower into that zombie filled franchise.
“As the studio is dedicating its focus to our flagship Dead Rising franchise, we have decided to sunset Puzzle Fighter.
“Firstly, we’d like to thank all the fans who have supported and enjoyed our Puzzle Fighter mobile game thus far,” Capcom posted on its Capcom-Unity blog. “As huge fans of Puzzle Fighter ourselves, the team here at Capcom Game Studio Vancouver is proud to have created a new version of the game that’s unique and enjoyable.”
This means that Puzzle Fighter will be removed from app stores on July 1st, and that its rumoured Xbox One and PS4 versions are unlikely to see the light of day. This is good news for those of us who love Dead Rising, though, because it’d be great to hear about Dead Rising 5 at June’s E3 expo.


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The India Primary Consumer Sentiment Index (consumer confidence) has fallen by 2.9 percentage points in June 2019, as consumers are reeling under high cost of living and feeling strapped for funds for daily spends and investments, also due to the dismal performance of the economy.
The monthly Primary Consumer Sentiment Index (PCSI) result, which is driven by the aggregation of the four, weighted, sub-indices, is showing a dip in 3 of the 4 sub-indices: while the PCSI employment confidence (jobs) sub-index has bounced back after last month’s slump, and is up by 2.0 percentage points; the PCSI economic expectations (expectations) sub-index, has fallen by 0.8 percentage points; the PCSI investment climate (investment) sub-index has dropped by a significant 5.8 percentage points; and the PCSI current personal financial conditions (current conditions) sub-index has plunged by 6.3 percentage points over last month, said a Thomson Reuters-Ipsos report.
There is an evident pessimism towards daily spends and investment, the report said.
“Mood is visibly downbeat among consumers. So, while sentiment towards jobs has shown recovery, it has majorly slumped for spends, savings and investments; also, to some extent there is less confidence towards the performance of the economy,” says Parijat Chakraborty, country service line leader, Ipsos Public Affairs, Corporate Reputation and Customer Experience.
These are the findings of an online poll conducted between 24 May and 7 June 7, 2019. For this survey, a sample of 500 adults from Ipsos' India online panel aged 16-64 was interviewed online.
The poll may not be reflective of the general population, it said. However, “if the more urban, educated and those who have more income than their fellow citizens and often referred to as “Upper Deck Consumer Citizens” or Primary Consumers,” have dipping confidence, the situation could be even worse in the rural segment which was the key contributor in the slowdown.
Updated Date: Jul 12, 2019 20:12:22 IST


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November 15, 2021
Quiznos, in collaboration with Crypto.com and The NFT Agency, announced the launch of a series of non-fungible tokens, marking the international fast casual restaurant chain’s entry into the NFT space by featuring a collection of Quiznos’ “Out of this World” sandwich coins, available for 24 hours.
Proceeds from the one-day sale of each token will support a nonprofit organization focused on ending hunger for communities and countries in crisis.
The artwork – created by Sameer Baloch, a 3D digital artist from Oman, features astronauts embarking on a mission to different planets throughout the crypto galaxy with the purpose of introducing innovative and alternative methods of sustainability.
For its entry into the NFT space, Quiznos tapped The NFT Agency, a marketplace consultancy that connects creators, communities and brands through NFT experiences with ownable digital content.
“Sameer has built a reputation among the art and NFT community through his jaw-dropping, one-of-a-kind 3D artwork,” says chief operating officer, Jesse Galati, The NFT Agency. “His brilliant and artistic mind is behind some of the most exciting NFT projects happening right now.”
Each NFT purchaser will also have the chance to win a Quiznos gift card. Quiznos will provide the gift cards, and the fulfillment will be setup and managed by The NFT Agency.
The collaboration isn’t Quiznos’s first foray into embracing the future of cryptocurrency and blockchain. Just a few months ago, the brand launched a pilot program that allows customers to pay with Bitcoin at select Quiznos locations across the Denver metropolitan area, including Denver International Airport.
“This is an exciting opportunity for digital coin collectors to pair their love of the planet, unique art and our boldly flavored food with an act of generosity for the global good,” says Mark Lohmann, president, REGO Restaurant Group, which owns Quiznos. “We’re excited to take this one small step into the NFT space and look forward to exploring more ways we can virtually – and maybe someday physically – plant flags for our out-of-this world Quiznos sandwiches in space.”
Quiznos plans to donate proceeds from its “Out of this World” token sales to the World Central Kitchen (WCK), a nonprofit founded by Chef José Andrés.
“We are delighted that Quiznos chose our platform to launch this NFT campaign in support of efforts to help those in need at a critical time for our planet," says Joe Conyers III, executive vice president and global head of NFT, Crypto.com. "We view this as a fun way to connect our community with a beloved food brand and terrific cause.”
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NEW YORK (TheStreet) -- Shares of American Apparel (APP) are up 4% to $1.04 in pre-market trade after it was reported that the company has been approached by Irving Place Capital about a possible takeover, sources told the Wall Street Journal.
Irving Place sent an expression of interest to the board of the Los Angeles retailer in the last few weeks, the sources said. The board initially rebuffed the approach because the indicative price was too low, they added, according to the Journal.
Irving Place has since increased the price range to $1.30 to $1.40 a share and the board has yet to respond to the second approach, sources said.
The news which was first reported by the New York Post.
The takeover approach came before the board this week officially terminated the employment of founder Dov Charney, who was suspended as president and CEO by the board in June for alleged misconduct. Paula Schneider was named to succeed him as CEO, the Journal noted.
American Apparel has struggled with falling sales and swelling losses. In the three months through Sept. 30, the company lost $19.2 million, compared with a loss of $1.5 million a year earlier. Sales fell 5% to $156 million from a year earlier.
TheStreet Ratings team rates AMERICAN APPAREL INC as a Sell with a ratings score of E+. TheStreet Ratings Team has this to say about their recommendation:
"We rate AMERICAN APPAREL INC (APP) a SELL. This is based on the dominance of unfavorable investment measures, which should drive this stock to significantly underperform the majority of stocks that we rate. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Textiles, Apparel & Luxury Goods industry. The net income has significantly decreased by 1167.9% when compared to the same quarter one year ago, falling from -$1.51 million to -$19.18 million.
- Net operating cash flow has significantly decreased to $2.00 million or 60.58% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
- Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 51.31%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 1000.00% compared to the year-earlier quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
- AMERICAN APPAREL INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past year. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, AMERICAN APPAREL INC reported poor results of -$0.96 versus -$0.35 in the prior year. This year, the market expects an improvement in earnings (-$0.25 versus -$0.96).
- APP, with its decline in revenue, underperformed when compared the industry average of 16.4%. Since the same quarter one year prior, revenues slightly dropped by 5.3%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.
- You can view the full analysis from the report here: APP Ratings Report


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Invest Atlantic is Atlantic Canada's largest networking event, with over 300 start-ups, entrepreneurs and investors. This is a great conference to attend if you're looking for help connecting or growing your business.
Momentum and Twitter Canada have partnered to host a #PitchTweet competition in Cape Breton. This event is the first of its kind in Canada. The competition is open to the world, with two winners to be awarded - one locally and one globally.
Startup Canada is partnering with Startup Halifax to bring together some of Nova Scotia's finest from the start-up community.
Hear about their ups and downs and lessons learned in this celebration of Nova Scotia's most successful start-ups.
This is an opportunity to learn, ask questions and network. And there will be snacks!!
Please join us in Stellarton - or tune in to our Facebook Live at 10:40 am AST - on Monday for an announcement about new opportunities in Nova Scotia’s start-up community.
Having helped nearly 110 start-ups raise over $200 million since its launch in 2011, Greentown Labs in Somerville, MA, has figured out how to build successful clean technology companies.
With a noted track record in life sciences, Nova Scotia is home to many early stage biotech and biopharma companies. But does your start-up have its finger on the pulse of today’s trends in these sectors? You can watch a stream of this session on our YouTube channel.
Powerful Relationships: Growing your Start-up through Meaningful Connections
A fireside chat with J. Kelly Hoey – one of the 10 most well-connected people in New York City's start-up scene
Please join the Hon. Geoff MacLellan, Minister of Business, Stephen Duff, President and CEO of Innovacorp, and the Hon. Mark Eyking, MP for Sydney - Victoria and the Hon. Rodger Cuzner, MP for Cape Breton - Canso, for an announcement related to entrepreneurship and innovation in Cape Breton.
Innovacorp offers Expert Office Hours to give our investment portfolio companies and incubation clients – and other friends in our pipeline and start-up community – the chance to sit one-on-one with an expert and pick their brain. We're holding Expert Office Hours on a variety of topics throughout June and July.
Don’t miss your chance to discover how you can turn your creativity into an asset. Join us on June 8 to learn about the different intellectual property rights that can turn an idea into a successful business by setting you apart from the competition.


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Apple could be preparing a huge upgrade for Siri if the company’s latest patent becomes a reality. Cupertino recently published a new patent that presents what seems to be multi-user support for the personal assistant, reports AppleInsider.
The patent, titled “user profiling for voice input processing” illustrates how the featured would work on an abstracted-level. The system will include some sort of voice recognition tech that’s able to distinguish between different users’ voices, and then offer a personalized experience to the specific user. So for example, you can add all your family members to your living room’s HomePod. From there, you can listen to your own playlists on Apple Music, and your sister could ask to listen to her own playlists on Apple Music after you leave. The system will also be able to offer personalized features like sending messages on iMessage from your phone and read your messages on the system.
Google Home already has a similar feature called Voice Match where the Assistant is capable of distinguishing between different users on the fly and presenting a personalized experience. Multi-user support for Siri would work exactly like that. The feature does present companies and users with a privacy dilemma, so if you are concerned about someone “faking” your voice and getting access to your personal data, you may wanna disable it. Either way, multi-user support for Apple is only just a patent for now, so it could take years before it becomes a reality.


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How to show your support for our nation's farmers
In the midst of the coronavirus pandemic, consumers have relied heavily on UK farmers to do what they do best and dig deep to meet the colossal demand for every day food products as shoppers drastically changed their retail habits.
Consumers are being asked to pledge their support in a host of different ways by simply visiting 24HoursInFarming.co.uk and accessing free resources as to how they can get involved.
Last year the campaign reached an audience of more than 112 million via Twitter, Facebook and Instagram and welcomed support from the Prime Minister, celebrity chefs, sporting stars and leading conservationists.
Sophie Jenkinson, from the Morrisons agricultural team, said: “Morrisons has sponsored 24 Hours in Farming for the past four years and it has also been a year full of unprecedented change around the world due to COVID-19.
“British farming has rarely been so close to the centre of public attention in such a positive way.“As British farming’s biggest direct customer, we are proud to continue to support #Farm24.
“This year’s event is an opportunity to continue the positive conversation on farming with the public through virtually welcoming people into a world that we know and love.”
Farmers Guardian editor Ben Briggs said: “Public awareness of the crucial role farmers play in feeding the nation and shaping our beautiful countryside has never been higher than it is right now.
“That is exactly why this year’s 24 Hours in Farming is such a fantastic opportunity for the farming community to harness that goodwill and give people an even deeper insight into what makes agriculture tick.
“Much of the wider public is genuinely curious about farming and how food is produced and this social media campaign really promotes the great people, places and stories that all too often do not get the recognition they deserve.”
Now in its fourth year 24 Hours in Farming will take place on August 6 at 5am to 5am August 7, and is presented by Farmers Guardian and Morrisons to champion UK agriculture and share the precious work undertaken 24/7 to keep the nation fed.
The site contains information on producers local to you, wonky vegetables, the environment and education packs.


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Clinical studies show that oat beta-glucan significantly reduces LDL and total cholesterol and the substance has carried a health claim, approved by the Food & Drug Administration (FDA), since 1997.
However, the health claim requires people to eat at least 3 grams of oat bran soluble fiber daily to reduce the risk of heart disease and this could only be obtained by eating at least two portion of oat cereal.
"Until now, it has been difficult to consume amounts of oat beta-glucan sufficient to reliably control cholesterol, because oats typically contain only 2-4 per cent by weight beta-glucan," said Dr Richard Potter, chief science officer of Nurture. "However, the 54 per cent beta-glucan content of OatVantage provides a concentrated dosage form, which readily permits consumption of efficacious amounts of beta-glucan."
Nurture claims its process produces a more concentrated form of beta-glucan than other extraction methods, making it more suitable for use as an ingredient in supplements.
The company's ingredient, OatVantage Oat Bran Concentrate, is said to contain 54 per cent beta-glucan by weight, compared with 12 to 20 per cent in other concentrated products. It can be used in encapsulation and tableting, semi-solid and solid foods and beverages, functional foods, nutraceuticals and dietary supplements. It is also water soluble.
"Beta-glucan, which has important cholesterol-lowering benefits, has been largely unavailable as a food additive due to the cost-prohibitive nature of conventional extraction," added Potter. "The benefit of this process is that it is entirely aqueous and results in efficient production of beta-glucan concentrates."
Additional patent cases for Nurture's process are pending in the US and internationally.
More than 100 million Americans have elevated cholesterol levels. For the 65 million who are 'borderline high', (200-239 mg/dL), lifestyle modifications such as diet can play a role in maintaining normal cholesterol levels, according to the National Institutes of Health (NIH) National Cholesterol Education Program (NCEP).


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First Call consensus expected National Semi to lose 24 cents a share in the quarter.
Including a one-time charge of $688.4m for dumping the Cyrix processor business, the company lost $783.5m, or $4.65 a share, in the quarter. On a brighter note, company officials now expect to return to profitability by the second quarter. "We are now on track to be profitable in the November quarter," said CEO Brian Halla in a prepared release. "The PC processor business accounted for approximately $45m in losses during the fourth quarter, and we will complete our exit from that business during the summer quarter."
For the year, National Semi lost $220.6m, or $1.32 a share, on sales of $2bn, a far cry from the previous year when it earned $72.7m, or 44 cents a share, on sales of $2.5bn.


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February 11th is National 211 Day, which is an annual event designed to help inform people across the nation about non-emergency health and human services information and referrals that are available by contacting 211. This upcoming Saturday, Wyoming 211 is partnering with Black Tooth Brewing company to celebrate National 211 Day.
On February 11th, Black Tooth Brewing Company will be donating $1 for every beer sold to Wyoming 211 from 2:11 p.m. to 11:00 p.m at all three locations (Cheyenne, Casper and Sheridan). Staff will be hanging out at all of the Blacktooth brewing locations to talk to people about the free and confidential information, and referral service that connects Wyoming citizens to essential health and human services 24 hours a day. They will also be accepting donations.


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Lenders expect to recover at least some of their Rs 45,263 crore dues from Lanco through the sale of this operational plant.
A high-level empowered committee considered these special dispensations to the troubled projects to help their lenders recover a fair value.
As part of the agreement with lenders, Lanco Anpara (2X600 mw) will be put on sale and the proceeds will be used to complete unfinished power projects.
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Get Ready for New Details on Cyberpunk 2077: Phantom Liberty Expansion
Cyberpunk 2077 has seen an immense resurgence in popularity in 2021, thanks to the anime adaptation of the game and the release of update 1.6. The upcoming expansion, Cyberpunk 2077: Phantom Liberty, has generated a lot of hype, and now CD Projekt Red has announced that more details will be released in June.
The Phantom Liberty expansion will offer gamers a whole new set of missions and locations to explore. Rumors suggest that the expansion will feature a new protagonist and that it will focus on the conflict between the corporations and the people of Night City. It's also expected to include new weapons and armor, as well as an array of new characters.
The trailer for the expansion provided a glimpse of what's to come, with a focus on a new protagonist, a mysterious figure shrouded in a hood. The trailer also suggested that the expansion will focus on the city's criminal underworld, with a focus on the gangs and rival factions who fight for control of Night City.
The expansion is expected to be a substantial addition to the game, with CD Projekt Red promising that it will offer a "rich experience with tons of content and lots of freedom." With the release of the expansion, gamers will be able to explore the city in even more depth and detail, as well as uncover its secrets.
Cyberpunk 2077: Phantom Liberty promises to be an exciting expansion, and gamers will get to find out more about it in June. CD Projekt Red has promised a "rich experience," and it's sure to be something special. If you're excited about the expansion, leave a comment and let us know what you're expecting from it.
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From a sourcing perspective, there are three key things that have impacted the market: lead times. pricing and inflation, and transportation, lead time and costs.
All of these areas have ballooned over the last couple of years. Not only are we seeing this across the electronics industry in general, but also specifically in the power space. We’re joined by Paul Kopp, Director of Supplier Marketing for Power Products at Sager Electronics, to discuss the challenges and solutions out there for pros sourcing power supplies these days.
Power supplies are complex and there’s a lot of components on the AC to DC side, so you can have hundreds of different components in that bill of materials. Lead time is going to be a factor of the longest lead time on the components. When coupled with production and capacity, purchasers are facing many problems.
“What we’ve seen is a situation where lead times typically would be eight to 12 weeks, then slowly crept to 15 to 20, to 24, to 26. Now we’re seeing 40 to 52 and beyond. So it’s, it’s been a challenge for customers, ” says Kopp. This became especially challenging for those who were used to a “just-in-time” mindset. Now they’ve transitioned to “just-get-me-product”.
Just like the normal lead time stretched, transportation did, too. Historical transportation methods, could take about four to six weeks to get from Southeast Asia to Long Beach, but now that’s gone up to 12 to16 weeks.
Authorizing air shipments as an alternative isn’t so easy either. The problem with air shipments is they’ve tripled, quadrupled in price so it’s become cost prohibitive as a lot of these power supplies are heavy, big, and bulky, adding weight and, in turn, adding to the price.
Is help on the way?
There are still a lot of challenges ahead, but Kopp is optimistic that by this time next year we may start turning the corner.
“I do think what we’ll see first is the transportation issues start to get better. I think once they get better, then we’ll start to see improvements in other areas. You know, that’s assuming we don’t have another variant. And that’s not something else that makes us take a step back. But I do think, over time, the supply demand fluctuations will start to smooth out a little bit,” he says.
Currently, there’s so much built-up demand that it’s going to take a while for suppliers and their suppliers to really catch up.
Watch the full video to learn more about the challenges the industry faces.
What You’ll Learn:
- The effects of tariffs
- How buyers are responding to these new constraints.
- Why warranties matter in the power supplies space
- Safety considerations when sourcing power supplies
- How Sager’s customer support and experts can help alleviate some of the current challenges


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Porsche has already confirmed on the production of the new-generation of Panamera and now, this upcoming car is being rivalled by Mercedes-Benz. The luxury carmaker has been teasing on a future car that is based on the next-gen CLS and it is tentatively called the GT4.
Even so, the GT4 won’t be anything like the CLS as it looks to come with its own unique styling that is different form the platform it is on. While details are still scarce at the moment, rumours are tipping the GT4 to come with a 4-seat interior.
The only difference between the GT4 and the Panamera is that the vehicle is going to come with a single engine option and it is the 600PS 4L V8 engine.
Of course, more on this will be revealed when the GT4 makes its debut somewhere in 2019. When the GT4 arrives, Mercedes will be pricing it at approximately $150,000.


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Leafreport.com recently shared results from its comprehensive review of CBD products that they tested throughout 2020-2021.
According to the findings, 60% of the CBD products sent for testing were more than 10% off of the stated label amounts.
How it works
Leafreport measures the accuracy of CBD products by comparing their labeled CBG strength to the amount found by the third-party lab tests. They base this accuracy on cannabinoid levels that are within 10% of what the label indicates.
Throughout 2021, the peer-reviewed watchdog sent 221 CBD products from 111 brands for third-party testing. These included 35 CBD oil, 40 topical, 40 edible, 22 beverage, 55 pet, as well as 29 coffee and tea products. In order to receive an A grade, products needed to be within 10% of the labeled CBD content. Products that were off from the label by a higher percentage received a B, C, or F grade.
“Our mission was simple: send the products for third-party testing and compare the results to the amount and type of CBD listed on the product label,” said Lital Shafir, the head of product at Leafreport. “Leafreport’s goal is to help promote transparency across the CBD industry and educate consumers so they can access products that are safe and offer the contents being advertised. Reports like this show that the industry still has a long way to go in terms of meeting acceptable standards for consumers. We hope that reports like this help educate those who want to use CBD and make them more informed in their purchasing decisions.”
The report revealed that 28% of products received the worst (F) grade for having CBD levels that differed from the label by more than 30%. On average, the CBD content of the products was off from the label by nearly 25%. Beverages had the worst results, with only 18% of products matching the label and two products containing no CBD at all. Out of 97 products advertised to contain broad or full-spectrum CBD, 44% were mislabeled. In the beverage, topical, and edible categories, more products received an F than an A.
“The results were pretty surprising,” said Gal Shapira, product manager, Leafreport. “We believed that there would be some mislabeling of some of the products, but never expected that the vast majority of them would be mislabeled. It’s interesting to see how many products on the market simply do not contain the amount of CBD that they think they do, whether it’s too little or too much. There was even a product that contained 221% of what they advertised.”
Shapira also told NutraIngredients-USA that although the number isn’t necessarily high, about 44% of pet products matched the labeled CBD strength. Shapira said the team expected this number to be much lower.
“We found that oils were the most accurate product group we tested with 74% matching the labeled CBD strength and an average difference of only 13.5% from the label. Beverages had the worst results, with only 18% of products matching the label and two products containing no CBD at all," explained Shapira.
In a previous interview, Shafir told us that in general, it's usually easier to get accurate dosing for oils and tinctures compared to other products, so you can see the majority of the "A" scored products are tinctures and oils. “CBD beverages are difficult to formulate and contain relatively small amounts of CBD, which means that variations of even a few milligrams can have a big effect," she said.
Foot-dragging on CBD
In April 2019, FDA formed a CBD Policy Working Group. Since then, the agency has issued a few non-binding guidance documents related to CBD products. However, no regulations have been set forth, with the agency citing the need for more research.
“The differences can be attributed to a lack of testing. Because the US Food and Drug Administration (FDA) is still reviewing information about the safety and potential benefits of CBD, it makes it more difficult to regulate products within the industry. Additionally, regulations can vary by country which only adds to the issue. Due to this inconsistency throughout the industry, companies often aren’t required to complete full testing and there isn’t an entity enforcing that they do so. This is why we recommend that companies complete third-party testing to facilitate transparency about their product contents," said Shapira.
With legislation such as the Safe Banking Act of 2021, the Hemp and Hemp-Derived CBD Consumer Protection and Market Stabilization Act of 2021 and the Hemp Access and Consumer Safety Act, Congress has the authority to address key CBD issues.
In July, a bill was put forth by Senate Majority leader Chuck Schumer, D-NY, that offered a legal pathway for CBD supplements and directed FDA to set safe upper exposure limit.
Sports & Active Nutrition Summit to focus on CBD
In the sports nutrition sphere, advocates say CBD can help with recovery, manage post exercise inflammation and even help ameliorate the effects of traumatic brain injury. But what does the science actually say about this popular ingredient? Expert speakers at the upcoming Sports & Active Nutrition Summit, scheduled for Feb. 14-16 in San Diego, will delve into this question as well as the trends in product formulation. Speakers will also explore the pitfalls in finding secure, quality sources of raw material. Attendees will gain insights on what challenges these brands face and how best to serve their needs from a supplier perspective.


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The 2017 Honda Ridgeline is often teased for not being a real truck but that is not what Honda is offering on the Honda Ridgeline.
Since the Honda Ridgeline will be coming with a smaller truck bed, has a weaker towing capacity and less off-road features, the Honda Ridgeline is often looked down by the trucks fans with many of them saying that with what Honda is asking for, the Honda Ridgeline is going to be the last truck they will consider but that does not mean that there is no place for the Ridgeline in the market.
While most truck as fighting to be the best off-roader in the market, Honda aims was to offer the consumers a truck that is versatile. Those looking for a vehicle that has a big enough trunk to carry ever furniture in the city will find the Ridgeline pretty useful.
It might not be as affordable but with features like a 400watt power inverter, dual action tailgate, in bed audio system, in-bed trunk and more, the Ridgeline will be worth it.


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Self praise is no praise but it is difficult not to cry 'we told you so' after hearing that Cellnet is to acquire HiTech Distribution (see page 1 of ARN edition December 20, 2006). When the Queensland distributor's boss, Adam Davenport, first announced his intention to go shopping back in August, we drew up a shortlist of potential targets. "From a geographical perspective, Cellnet could do worse than spend some of its dollars buying one of the leading players in SA, WA or both. There are a handful of attractive options but one that absolutely leaps from the page - HiTech Distribution. (ARN, August 9, page 2) Having already snapped up VME Systems back in October, which was the local master distributor for SanDisk, Cellnet is starting to deliver on its acquisition promises. More activity can be expected in the New Year, with Davenport predicting action in Melbourne. However, the possibility of a deal with leading target, Dicker Data, looks all but dead.
The HiTech acquisition must be a welcome distraction for the Cellnet management team. There had been encouraging improvement in its share price during recent months but that was quickly eroded by poor first half projections communicated at its AGM last month. Having risen from $1.20 in June, it reached $1.68 a few weeks ago but had dropped back to $1.35 at the time of press. Improving the share price is priority number one as a listed company and Cellnet has to arrest the slide.
Looking back over the past 12 months, consolidation among local distributors has been a little slower than expected. But technology wholesale is still a very tough business and further fallout should be expected in the New Year.
Most of the action in 2006 was concentrated in the reseller ranks, with leading integrators in seemingly constant discussion with each other. Although size isn't everything, and some smaller operators have established very successful niche plays, increased scale remains an effective way for companies to maintain growth rates.
Another trend we can expect to see continue in 2007 is an increased focus on SMB from traditional enterprise vendors. EMC has made significant strides through its partnership with LAN Systems. Nortel has now announced a range of SMB products through the same distributor, while CA has dramatically cut its number of direct accounts and will launch a channel program early next year.
With enterprise spending expected to remain fairly stagnant for the foreseeable future, these moves are no surprise. While it is easy to announce SMB plans, it is much more difficult to make them work. These vendors will come up against well entrenched competitors such as D-Link and Netgear in the case of Nortel, or Symantec and Trend Micro for CA, and wrestling market share away won't be easy.
From a technology point of view there are likely to be few surprises, with major players continuing to refine messages around key pillars like mobility and security. But whatever next year brings, we look forward to keeping you up to date with the news that matters.
Brian Corrigan is editorial director of ARN. Reach him at firstname.lastname@example.org


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Google earlier this year announced a revamp and re-branding of the subscription plans for its Google Drive cloud storage service. Called ‘Google One’, it offers upgraded options with expanded storage, access to live support and more under one plan that can be shared with others. The company has been rolling out the service gradually over the past several weeks, and after having launched in the US last month, it’s all set to hit India in the coming days.
In an official blog post, Google said that users with paid Drive plans in the country will be upgraded to Google One automatically over the next few weeks. Everyone else will be able to opt-in once the new service is launched in India in the coming days. Users who want to be a notified when Google One is available, can sign-up for updates by clicking here.
While the pricing tiers in India are yet to be announced, in the US, the tech giant offers a new 200GB option that costs $2.99 (around Rs 220) per month. The prices for the existing plans remain unchanged, which means pricing starts at $1.99 for 100GB and goes right up to $299.99 for 30TB. In India, only the old plans were listed at the time of writing this article, which means you still get just the 1TB of storage for Rs. 650 (around $9) per month.
Google is also offering its customers the option to add up to five family members to their plan, thereby simplifying everybody’s cloud storage options under one bill. “Everyone gets their own private storage space as well as the additional benefits of Google One”, said the company at launch.
The whole revamp process comes with another benefit – live support. For the first time, Google is offering live support to all users – including those who are on the cheapest plan. The company thus far offered the service exclusively to G Suite business account holders.


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The coronavirus pandemic has created a dangerous climate of distrust and skepticism, as we’ve seen through the U.S’s changing relationship with China. A recent revenue scandal from the viral Chinese beverage chain Luckin Coffee has only aggravated these tensions, and has raised concerns about regulating foreign firms on U.S markets.
By Sasha Agapiev
As the world scrambles to deal with the ongoing coronavirus pandemic and global economic standstill, confusion, anger, and paranoia have become commonplace as a means for dealing with the uncertainty. It’s all nice and well while countries innovate and their economies prosper, but it’s always easier to see society’s true character when unforeseen challenges emerge and threaten destruction. Conversations about the true origins of COVID-19 and concerns regarding China’s handling of the initial outbreak have escalated to federal levels, and this has translated to a troubling rise in distrust and xenophobia.
¹ Beneath the clear challenge of defeating coronavirus, we must also fight to prevent these circumstances from clouding our judgement and negatively altering our belief systems, because as Thurgood Marshall said, “the measure of a country’s greatness is its ability to retain compassion in times of crisis.” ² Considering this, the recent Luckin Coffee revenue scandal was precisely not what we needed right now, as the outrageous circumstances surrounding Luckin’s fraudulent numbers have only lowered American investors’ trust in China and Chinese brands.
Up until last month, Luckin Coffee was a smash hit both for Chinese coffee enthusiasts and foreign investors. The company, which has been described as the Chinese version of Starbucks, is a coffee chain that originated in Beijing back in 2017. Despite Starbucks’s large presence in China and the stereotype of Asian markets not endorsing coffee as much as Western countries, Luckin managed to grow at an unprecedented rate. Through three profitable years, Luckin Coffee cemented its position as the largest Asian coffee chain by number of locations by opening over 4,500 stores around China, surpassing Starbucks’s 4,300 stores in the region.
Luckin employed a number of the latest business development strategies to uphold their growth, including the idea of maximizing the number of new locations by building small kiosk-like stores instead of expensive amenity-filled cafes. They also use AI software to find optimal locations for new stores and run free espresso promotions through their mobile app, which has boosted their reputation as a modern coffee brand. Their business statement is simple, yet poignant: They deliver consistent, quality coffee drinks to a market that has long been neglected.
⁴ Luckin’s straightforward business plan and ever-growing market share unsurprisingly impressed Wall Street investors, and so the company went public on the Nasdaq last May. Their stock price grew 25% through its first month, and it just kept on growing thanks to the massive revenues their 4,500 stores produced. ⁵
Or so we thought.
Last week, you could buy shares of Luckin Coffee for just $4.00. Today, you can’t buy them at all, for any amount of money. This does not mean the shares are priceless — rather, the Nasdaq recently halted trading of $LK after a report convicted Luckin’s C-level officials of artificially inflating sales numbers and essentially making up revenue figures. Apparently, Luckin’s COO gave fabricated revenues to the SEC and shareholders through most of 2019 and attempted to cover up by listing fake sales at their many stores. It’s been estimated that from Q2 2019 to the beginning of Q4 2019, Luckin fabricated over $300 million in earnings by exaggerating prices, duplicating existing sales, and even completely making up new sales.
⁶ Lying to the public about $300 million worth of fictional profits already sounds bad enough, but it sounds even worse when you consider that Luckin reported a total of $732 million in sales for all of 2019. ⁷ That means that nearly half of the company’s value just never existed, and that its entire one-year run on Wall Street was built on false narratives. Most of the blame was piled onto Luckin’s COO Jian Liu, who has since been fired along with several of his colleagues. The stock fell about 84% in response to the news and would have continued to fall had the Nasdaq not halted trading. However, a ruined stock listing has been far from the only repercussion.
In a relatively short span, one of the more popular Wall Street newcomers of 2019 managed to completely disintegrate into a cautionary tale. American news outlets have since labelled Luckin as a scam which will likely never trade on U.S markets again, but the company claims business will continue as usual and that they will maintain their rapid expansion in China. According to Luckin’s CEO, the fraud was an isolated breach of company norms that confined itself to the COO and his associates, and that Luckin has since improved oversight of their divisions.
⁶ These statements have done little to appease the frustrated investors, financiers, and government officials who all have to deal with the fallout. Goldman Sachs, who have loaned more than $500 million to Luckin in the past, had to seize a large portion of the company’s stock to cover their losses. ⁸ Investment firms like Citron Research who are large shareholders in Luckin have tried to do damage control by participating in the mass sell-off, but the price had already plummeted and this still surely caused these firms and their partners to lose a whole lot. Although Citron has not yet filed a lawsuit, a number of other investment firms and shareholder groups have, and these lawsuits will add to Luckin’s financial burden. ⁹ Not only did Luckin lose more than two-thirds of its market cap, but they will have to pay off its tower of lawsuits and soon-to-be-defaulted loans, and will have to deal with the 4,500+ stores they’re operating around China (if all of these stores existed in the first place). On the bright side, around 300,000 people have downloaded the Luckin app over the past two weeks to capitalize on free coffee promotions while they’re still valid. ¹⁰ Putting all jokes aside though, there’s pretty much no winners in this situation aside from the few who shorted Luckin or bought Starbucks shares before the investigation.
The fascinating aspect of the Luckin scandal is the ripple effect that will ensue, as the true scale of Luckin’s deceit combined with the poor timing has the potential to change how Americans accommodate Chinese companies. Oliver Rui, professor at Shanghai’s China Europe International Business School, says the “ongoing accounting probe will have wider impact for other U.S-listed Chinese firms, or Chinese companies that plan to list in the U.S.”
¹¹ Right now, auditors in the U.S do not have jurisdiction to investigate Chinese-based companies that trade on the Nasdaq, but analysts like Rui believe the SEC could disbar this rule so that they have more authority over all companies trading in the U.S regardless of where they operate. ¹² Even if this law remains unchanged, the SEC and market research groups have already increased scrutiny of other publicly traded Chinese firms. iQIYI, a Baidu-owned movie streaming service similar to Netflix, has been accused of following nearly identical revenue-inflating practices as Luckin, and the investigators say they’ve been fabricating numbers since before their IPO in mid-2018 ¹³. Andrew Left, founder of the Citron Research hedge fund which held a huge stake in Luckin, summarized the evolving situation in an interview with the Financial Times. According to Left, the Luckin fraud “has shaken investor faith in US-listed Chinese companies” and that “[the fraud] just shows you the lack of controls; you obviously know this wasn’t just done by one person.” ¹⁴ In a different Financial Times interview, Chinese industry reporter Fraser Howie said that “it seems crazy to [him] we’re still not asking harder questions about Chinese companies that are promising incredible results,” but that he blames “gullible investors” more than Luckin itself. ¹⁴ Finally, this scandal just adds to the IPO troubles we saw in 2019. If it’s true that Luckin, WeWork, and potentially other companies (foreign and local) tend to invent inspiring numbers before their initial public offering (IPO), then this will surely impact how investors trade newly public stocks and could prevent a number of successful startups from getting listed on Wall Street.
At the end of the day, though, fraud long predates Luckin Coffee, and there have been plenty of outright scams on Wall Street in the past, many of which have nothing to do with China or shady foreign politics. For instance, there was ZZZZ Best in the 1980s, which involved an American businessman named Barry Minkow who forged sales documents for carpet cleaning appliances and then took his company to the NYSE, where his company achieved a market cap of over $200 million. Then in 2001, Enron became a household name for deceitful bookkeeping after they hid huge debts to inflate revenue figures.
¹⁵ And who could forget when Bernie Madoff essentially scammed all of lower Manhattan with his $50 billion Nasdaq ponzi scheme (somewhat unrelated, but still timeless and worth mentioning). In all of these and other similar cases, the companies went bust, those responsible received criminal penalties, and everyone kind of brushed them off to the side and continued trading other stocks. The SEC’s go-to response for these incidents has always been along the lines of “there’s thousands of companies trading publicly in the U.S which makes it impossible to completely prevent this type of fraud, so investors should be more cautious about where they’re putting their money.” With the Luckin scandal, however, the response appears to have been less tolerant, but the reason for this tough stance may have less to do with Luckin itself and more to do with the world’s presently evolving political climate.
Luckin, despite having destroyed their reputation and having potentially ended their relationship with American investors forever, still has many locations around China, a strong coffee-loving customer base who likely won’t forego their espressos because of this scandal, and a popular online promotion system. They could easily continue growing and increasing actual revenues even with all the immediate financial burdens, and if they get delisted from the Nasdaq, they could go public on Chinese markets or even continue to trade publicly in the U.S through other means. As some have pointed out, companies who invent high revenues during their first years of trading often do so because they believe future profits will eventually cover the spread and because they want to keep investors on board in the meantime, and this explanation would make sense in Luckin’s case considering their rapid growth business model. Enron went bankrupt after their revenue scandal went public, but Enron had been mid-collapse for years prior and their accountants falsified numbers to hide their debt, whereas Luckin was actually in the process of scaling when they inflated sales. With that said, the financial reasons for why the Nasdaq and the SEC immediately rushed to end Luckin’s run on Wall Street become less clear. Maybe the U.S and American investors’ actions against Luckin and other similar Chinese companies are truly justified and necessary for protecting economic integrity, or perhaps the enmity has been exacerbated by all the skepticism directed towards China because of the coronavirus pandemic. □
- Image source
- Serhan, Y and McLaughlin, T. (2020, March 3). The Coronavirus’s Xenophobia Problem. The Atlantic. Retrieved from https://www.theatlantic.com/international/archive/2020/03/coronavirus-covid19-xenophobia-racism/607816/.
- Marshall, T. (2020). Thurgood Marshall Quotes. Good Reads. Retrieved from https://www.goodreads.com/author/quotes/331989.Thurgood_Marshall.
- Sozzi, B. (2019, November 19). Luckin Coffee Will be Larger Than Starbucks Before 2020: CFO. Yahoo Finance. Retrieved from https://finance.yahoo.com/news/luckin-coffee-will-be-larger-than-starbucks-in-china-before-2020-cfo-153844070.html.
- Garcia, T. (2019, May 20). 5 Things to Know About Newly-Public Chinese Starbucks Competitor Luckin Coffee. Market Watch. Retrieved from https://www.marketwatch.com/story/5-things-to-know-about-chinese-starbucks-competitor-luckin-coffee-ahead-of-its-ipo-2019-05-01.
- Franklin, J, Brumpton, H, and Zhu, J. (2019, May 16). Starbucks’ China Challenger Luckin Raises $561 Million in U.S IPO. Reuters. Retrieved from https://www.reuters.com/article/us-luckin-coffee-ipo/starbucks-china-challenger-luckin-raises-561-million-in-u-s-ipo-idUSKCN1SM2SH.
- Caplinger, D. (2020, April 2). Starbucks Climbs, Luckin Crashes on China Coffee Scandal. Motley Fool. Retrieved from https://www.fool.com/investing/2020/04/02/stock-market-news-starbucks-climbs-luckin-crashes.aspx.
- Taylor, K. (2020, April 2). Luckin Coffee Fabricated $310 Million in Sales. Business Insider. Retrieved from https://www.businessinsider.com/luckin-coffee-fabricated-310-million-in-sales-investigation-2020-4.
- Caplinger, D. (2020, April 11). Will Luckin Coffee Stock Ever Trade Again? Motley Fool. Retrieved from https://www.fool.com/investing/2020/04/11/will-luckin-coffee-stock-ever-trade-again.aspx.
- Shazar, J. (2020, April 3). Citron Research Bought a Lemon. Deal Breaker. Retrieved from https://dealbreaker.com/2020/04/block-vs-left.
- Crichton, D. (2020, April 6). Luckin Coffee’s Alleged Fraud has some Silver Linings (and Even More Bad News Too). Tech Crunch. Retrieved from https://techcrunch.com/2020/04/06/luckin-coffees-alleged-fraud-has-some-silver-linings-and-even-more-bad-news-too/.
- Wang, Y. (2020, April 3). Luckin Coffee’s Troubles May Just be Getting Started After Revealing Financial Investigation. Forbes. Retrieved from https://www.forbes.com/sites/ywang/2020/04/03/luckin-coffees-troubles-may-just-be-getting-started-after-revealing-financial-investigation/#6750033311f7.
- Jaeger, J. (2020, April 9). Luckin Coffee, iQIYI Fraud Allegations Point to Wider China Problem. Compliance Week. Retrieved from https://www.complianceweek.com/accounting-and-auditing/luckin-coffee-iqiyi-fraud-allegations-point-to-wider-china-problem/28735.article.
- Kharpal, A. (2020, April 8). iQIYI Accused of Fraud by Wolfpack, Muddy Waters. CNBC. Retrieved from https://www.cnbc.com/2020/04/08/iqiyi-accused-of-fraud-by-wolfpack-muddy-waters.html.
- Varshney, N. (2020, April 13). Luckin Coffee Fraud has Shaken Investor Faith in US-Listed Chinese Companies, Long-Term Backer Citron Says. Benzinga. Retrieved from https://www.benzinga.com/news/20/04/15786108/luckin-coffee-fraud-has-shaken-investor-faith-in-us-listed-chinese-companies-long-term-backer-citron.
- Investopedia Staff. (2019, October 11). The Biggest Stock Scams of All Time. Investopedia. Retrieved from https://www.investopedia.com/articles/00/100900.asp.


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MetaSing raises $3 million and plans ‘fairer redistribution’ for artists
MetaSing, which bills itself as “the first decentralized music platform to combine a gaming model with web3 music streaming,” announced the completion of a $3 million seed round.
MetaSing, a self-proclaimed “unicorn startup,” recently detailed the multi-million dollar raise via a Release. The “team” section of the entity’s website shows that former employees of Meta (blockchain developer), Spotify (software engineer), Twitch (fullstack engineer), and Amazon Music are part of MetaSing.
And according to a whitepaper that’s also live on the multi-faceted startup’s website, MetaSing functions as “a web3 lifestyle platform” and allows gamers to “gear up with NFTs in the form of microphones, headphones and a musical arena”.
In addition, the company uses two tokens, $DJC (which has an “unlimited supply”) and $BEAT (with a “total supply” of 6 billion), according once again to the MetaSing site, which relays that “the Players equipped with MetaSing NFT can earn token rewards by singing songs, listening to music, and creating NFT music.
On the artists’ side, MetaSing pointed out in the aforementioned announcement post that it plans to achieve a “more equitable redistribution of the results of artists’ work”, referring to providing a greater portion of income to professionals. responsible for creating music.
Moving past these operational specifics and refocusing on the $3m raise, MetaSing said UK-based Pleiades Capital was leading the round.
Finally, regarding the startup’s goals, the company’s statement reveals that “MetaSing seems more interested in being the first to become the opensea of the music NFT trading market.”
Either way, time will reveal the precise role of NFTs in the music industry, which has struggled amid a broader “crypto winter” in 2022.
Despite this slowdown, however, capital – and support from major record labels – continues to reach NFTs and music platforms. To be sure, Warner Records teamed up with Bose on a merch-backed NFT project in July, when Universal Music’s notoriously media-shy digital group Kingship reportedly sold an entire NFT collection.
To kick off August, OneOf announced the closing of an $8 million funding round, while Meta expanded Instagram’s NFT support to 100 countries.


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Most consumers will maintain or increase their online usage even as in-person shopping resumes, but won’t be patient about it.
According to a new survey of more than 1,500 U.S. consumers from digital experience platform FullStory, eight in 10 (81%) respondents plan to maintain or increase their online usage even as COVID-19 restrictions are removed.
However, the survey also shows that digital frustrations are common and costly, finding that almost two-thirds of respondents (64%) have been frustrated or struggled with an online transaction in the last six months. More than three-quarters (77%) of respondents will abandon an online transaction when they experience an issue, and 60% say they aren’t likely to return.
Furthermore, 65% of respondents trust a business less when they experience a problem while using a website or mobile app. The most popular factor respondents listed as creating a good online experience is being able to “quickly accomplish what I came to do” (83%).
Conversely, the most frustrating issues for consumers online are page glitches (55%), forms that don’t correctly accept inputs (45%), and page-loading errors (42%).
Only 12% of respondents are very likely to share feedback when a digital error occurs. When consumers do provide feedback, it’s most likely through surveys (49%) or by chatting or emailing the business (41% and 40%, respectively).
Other interesting findings include:
• Four in 10 respondents (41%) transact online at least once a day, and one-quarter (26%) perform multiple online transactions a day, such as placing an order, purchasing an item, paying a bill, or making a reservation.
• Retail received the highest ratings for an industry with positive online experiences (34% excellent; 7% poor), while quick-service restaurants received low rankings (13% poor; 7% excellent).


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Samsung has unveiled the latest additions to its Galaxy Note family, launching the Galaxy Note 4 and Galaxy Note Edge devices at a glitzy event in Berlin.
A cross between a smartphone and a mini tablet, Samsung continues to push the Galaxy Note’s large screen size as a key differentiator in its ongoing battle with Apple.
With an enhanced high-definition 5.7-inch screen, the Galaxy Note 4 offers clearer and more vivid images with deep contrast, according to Samsung, as well as better viewing angles, and response times as fast as a millionth of a second.
Samsung has also enhanced its ‘Multi Window’ feature, which aims to make multi-tasking easier by accessing apps with full, split or pop-up screens and quickly altering their size and positioning.
The South Korean tech giant has upgraded the camera technology on the Galaxy Note 4. Unlike the 13-megapixel rear-facing camera found on the Galaxy Note 3, the Galaxy Note 4 comes with a 16-megapixel camera. The device’s front-facing camera is 3.7-megapixels, compared to 2 megapixels on the Galaxy Note 3.
Other enhancements include an improved fingerprint scanner and what Samsung is touting as the world’s first UV sensor in a mobile device.
Unlike the iPhone, Samsung’s Galaxy Note family also offers a stylus, or S Pen, which has also been enhanced on the Galaxy Note 4. The new S Pen offers consumers a “much more authentic pen experience,” according to Samsung, and can even emulate writing on paper with a fountain or calligraphy pen.
In addition to the Galaxy Note 4, Samsung has also unveiled the Galaxy Note Edge, which offers a 5.6-inch curved display.
The Note 4 will be available in the U.S. in October with the Note Edge available later in the fall. The devices with be available at AT&T, Sprint, T-Mobile and Verizon. U.S. Cellular will also carry the Galaxy Note 4.
Keen to tap into new consumer markets, the tech giant also unveiled its Samsung Gear VR Innovator Edition, a mobile virtual reality headset, at the Berlin event. The Gear VR will be available this year, it said.
Samsung is launching its Galaxy Note 4 and Note Edge at a time of stiff competition in the smartphone market. Last week Apple sent out invitations to attend an event on Sept. 9 which is expected to mark the big debut of the eagerly-anticipated iPhone 6.
As is always the case, the rumor mill has been spinning full speed ahead of Apple’s event, with plenty of talk about a larger screen iPhone, fitness apps and longer battery life. There has also been chatter that Apple may be planning to launch 4.7-inch and 5.5-inch versions of the new iPhone.
Consumers will also be closely watching Apple’s launch event to see whether the tech giant makes its entry into the smartwatch space with an ‘iWatch’ device, although there have been reports that this may launch in the fall.
Samsung recently announced its new Gear S smartwatch, which offers 3G connectivity in addition to Wi-Fi and Bluetooth.
Follow James Rogers on Twitter @jamesjrogers


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Tesla announced it may soon accept bitcoins as payment for its cars.
In its annual filing with the Securities and Exchange Commission, Tesla said it expects to “begin accepting bitcoin as a form of payment for our products in the near future… initially on a limited basis, which we may or may not liquidate upon receipt.”
The company also said it’s invested $1.5 billion in bitcoin so far as part of a decision to “invest a portion of [the company’s] cash in certain specified alternative reserve assets.”
According to CNN, Tesla lists $19 billion in cash and cash equivalent on its balance sheet as of Dec. 31.
The price of bitcoin was up 13 percent in morning trading and shares of Tesla were up 2 percent in premarket trading.
™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.


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This excerpt taken from the GPS 8-K filed Feb 3, 2005.
Company Expects to Report Fourth Quarter Earnings Per Share of $0.36 to $0.38
SAN FRANCISCO February 3, 2005 Gap Inc. (NYSE: GPS) today reported net sales of $891 million for the four-week period ended January 29, 2005, which represents a 5 percent decrease compared with net sales of $939 million for the same period ended January 31, 2004. The companys comparable store sales for January 2005 decreased 7 percent compared with a 3 percent increase in January 2004.
Comparable store sales by division for January 2005 were as follows:
Gap U.S.: negative 6 percent versus positive 6 percent last year
Gap International: negative 8 percent versus negative 2 percent last year
Banana Republic: positive 7 percent versus negative 1 percent last year
Old Navy: negative 13 percent versus positive 3 percent last year
Although overall sales for January were disappointing, we were pleased that total company merchandise margins and regular priced selling were above last year, said Sabrina Simmons, Senior Vice President, Treasury and Investor Relations.


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Tucson Plugs In
TUCSON PLUGS IN 2013 is the southern Arizona element of NATIONAL PLUG IN DAY (NPID) 2013, the 3rd annual electric vehicle (EV) awareness celebration sponsored by Plug In America, the Sierra Club and the Electric Auto Association. Many cities and municipality across the United States will simultaneously host NPID events this year on or around September 29th and, as with 2011 and 2012, Tucson will again be front and center in this effort.
TUCSON PLUGS IN 2013 is sponsored locally by TEVA2, the Tucson Electric Vehicle Association, an Electric Auto Association (EAA) chapter, whose origins in the promotion of EVs in southern Arizona dates back to the 1980s.
In brief, TUCSON PLUGS IN 2013 is an opportunity for the general public – free of charge – to come out and see the latest in EV technology. Both private vehicle owners and local auto dealerships will have plug-in vehicles on display. Additionally there will be exhibits showing a variety of sustainable and environmentally-responsible energy technologies.
Location: the new Bookman’s Sports Exchange store, 3330 East Speedway Boulevard
For more information <http://tucsonplugsin.blogspot.com/>


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New blog post from Colin Johanson on the official website today, announcing the end of Scarlet’s story arc in the next four updates coming in 2014.
Category Archive: GW2 News
Arenanet has confirmed that Fractal Weapon skin box mentioned in the Fractured patch is not currently available until Fractal levels increase beyond 50. The Fractal Weapon skin box would allow you to pick any fractal skin you liked.
Players who purchase gems in December with real money will earn a green Quaggan Backpack and Mini Mr.Sparkles in January.
A new blog post went up in the official GW2 website today, outlining some of the changes to the sPvP player rewards. Notable changes includes ability to gain experience while doing sPvP and allowing players to carry their PvE looks into sPvP.
GW2 will be hosting 3 days of sale in the gemstore starting on Saturday Nov 30. Items on sale includes Black Lion salvage kits, armor, and bank/bag tab expansions.
A new blog post went up in the official GW2 website today, announcing the change of WvW world XP to account bound.
Due to the overwhelming negative player feedback on Flamekissed armor, which uses the human light cultural T3 armor skin, Arenanet have decided to pull the Flamekissed armor from the gemstore and update it with new graphics soon.
The PvP team will be revealing some of the developments towards PvP rewards revamp next week after their next PvP blog post.
GW2 will be on sale for 40% OFF until Dec 3. The Digital Heroic Edition can be purchased for as low as $29.99 USD. This is the lowest price for GW2 so far.
Along with the usual release info for next week’s patch, Arenanet have also released a blog entry describing the changes to Fractals in detail.
The newly updated GW2 Obsidian Sanctum WvW map with area for large scale player fights will be released in November.
Arenanet have released a list of the upcoming GW2 class changes for the upcoming Dec 10 patch on the official forums. Details are posted below.
Warriors will be adjusted in the next class balance change scheduled for December to bring them in line with other classes. Warriors currently are exceptionally strong in PvP.
Champion bags from killing champions was secretly nerfed in the latest GW2 patch, reducing their gold and bloodstone dust. Arenanet Economist John Smith just confirmed this on the forums today.
The first wave of invites for the new Edges of the Mists WvW overflow map have gone out. Check your email to see if you got in!
A new overflow map called Edge of the Mists is coming to GW2 WvW and Arenanet wants your help in testing it! Check out the FAQ after the official announcement which has more details.
Arenanet will be putting a space in the Obsidian Sanctum map for organized large scale battles to the likes of Guild vs Guild. Players can also arrive in the map through a drop down menu once this feature is in place. Greetings, We’ve recently begun work on finding a reasonable space to accommodate the …
GW2 will be having an extended free trial and sale on the digital heroic edition of the game starting on Friday, September 27. The free trial ends on Thursday, October 3 but the sale will continue until Sunday October 6.
Arenanet published a blog post today regarding the upcoming change to the WvW Borderlands and the new mechanic Bloodlusts.
Jonathan Sharp, the Game Design Lead for Arenanet, released some balance and skill update previews for the upcoming October 15 patch.
John Foreman, Environment Design Specialist at Arenanet, revealed a bit more info about the Tribulation weapons players can expect from the Tribulation Mode version of SAB.


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Hyundai’s domestic sales jump over 19% in August1 min read . Updated: 01 Sep 2014, 01:00 PM IST
Exports decline sharply, falling 40% to 14,361 units from 24,008 over a year ago
Mumbai: Hyundai Motor India Ltd (HMIL), India’s second largest car manufacturer, sold 33,750 units in August, up 19.2% from 28,311 units sold last August, the company said in a statement on Monday.
Exports, however, declined sharply, down 40% to 14,361 units from 24,008 units over a year ago.
“We maintain a cautious optimism for a good festive season on the strength of new products, increase in demand for petrol cars and improving customer sentiments," he said.


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What to learn about social media from Francesca’s CFO blunder
Every once in a while in the fast-paced world of technology, something happens that makes us pause and reevaluate how we use these new services. This recently happened when Francesca’s Holdings Corp. fired its CFO, Gene Morphis, for improperly using social media.
Reports allege that Morphis, who has a Twitter account named @theoldcfo, released information about Francesca’s accounting firm, audit committee and quarterly earnings before the company released them.
With more c-level executives logging on to social media sites to interact with customers, industry experts and employees, Francesca’s situation could be a harbinger for future problems.
However, Alex Urband, an internet marketing writer for the Marion Group, a Houston-based business-to-business marketing firm, said she thinks that instances like Francesca’s are becoming less frequent because more people are aware of potential problems with social media.
“They need to monitor what they are posting so it doesn’t reflect badly on the company and on themselves,” Urband said. “Everyone has to be cautious about what they are doing and posting online.”
Some experts claim that having CEOs and other c-level executives on social media sites helps the company image, including Jay Steinfeld, founder and CEO of Houston-based Blinds.com. Steinfeld previously told me that being on social media is an easy way to connect with customers.
But Urband said that some companies, including large brands, benefit from having just one central social media account. This way, the company can better control the timing of sending out information.
Molly Ryan covers manufacturing, technology, the Port and logistics for the Houston Business Journal. For her breaking stories and industry insights, follow her on Twitter.
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There are some interesting developments in the world of Rural Broadband with Fujitsu this week announcing its new consortium with Virgin, TalkTalk and Cisco to deploy rural fibre to the premises (FTTP). With everyone getting excited with the prospect of another player competing against BT it should be noted it is still just a plan and there is a long way to go before it becomes reality.
The cynic in me would also say this is much more of a Virgin bid than anything else as Fujitsu already look after most of their network already. But it makes sense to make the bid in Fujitsu’s name as they are perceived as being more independent as a network builder rather than Virgin as an operator.
I know it is unrelated but don’t forget how Virgin (Atlantic) was going to save ‘Concorde’ which was completely unfeasible but produced some good media comments and lots of goodwill towards the brand. If Virgin succeeds with this bid then they build a bigger network, if they fail, they will be known as the company that tried to help consumers against the might of BT. Not a bad marketing strategy.
In their press release they say they need to win the available £500m to make this a reality, which is unlikely given the fact that BDUK (government body) will distribute the money between the local authorities who will each award their allocation of the money locally. In this scenario it is highly unlikely Virgin, sorry Fujitsu, will win all the money and hence, from what they have said this proposal wouldn’t happen.
I am sure they will do something but I would wager the outcome would be very different from their grand plans outlined this week. Yes it takes the fight to BT, but it does ignore the realities of how this money will be awarded, and hence is somewhat optimistic when viewed in the cold light of day. Still exciting times for the industry.


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How is your Windows 8.1 experience so far after updating to the latest version of Microsoft’s software? Many users have praised the new update, but some have encountered various Windows 8.1 problems that are causing considerable frustration.
Aside from the fact that there is no traditional Windows 8.1 Start Button, consumers have been finding out a few other issues with the software that they hope Microsoft intends to fix in a future patch update.
We’ve also seen many consumers complain about frequent “Windows Explorer has stopped working” error messages in Windows 8.1, while in some cases we’ve also seen some instances of Windows 8.1 not going into sleep mode when requested to.
You may have heard that the arrival of Windows 8.1 has also been met with the termination of Windows XP support. Given that there are some early bugs with Windows 8.1, this has led to some humorous comments on social media, calling for Windows XP to make a speedy return.
Considering the problems that Windows 8.1 update is giving me, it is no surprise to me that WinXP is still being used.
— Sean Froyd (@SeanFroyd) April 10, 2014
Some consumers have also specifically complained about having issues with Windows 8.1 Mail and Calendar apps upon start-up immediately after installing the Windows 8.1 update.
Anyone else having application startup time problems with the Windows 8.1 Update? Particularly built-in apps like Mail and Calendar?
— Hal Berenson (@halberenson) April 10, 2014
Hopefully all of the problems can be fixed in time. If you are just getting started with Windows 8.1, let us know your experiences so far.
What problems have you seen personally?
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