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In its largest purchase to date, the social media network has bought Instagram, the preferred photo-sharing application, for about $1 billion in cash and stock, the firm stated Monday.
It's a remarkable move for Facebook, which has actually specifically focused on bite-size acquisitions, worth less than $100 million.
Facebook Buys Instagram
With Instagram, Facebook will obtain a formidable mobile player-- an area that is viewed as a weakness for the sprawling social media. Established 2 years earlier, the solution-- which allows customers share images and use stylized filters-- has actually become one of one of the most downloaded applications on the iPhone, with some 30 million users. Instagram released a version of its application for Google's Android os recently.
On Monday, both companies expressed their dedication to run Instagram as an independent service.
In a post on his profile page, Facebook's chief Mark Zuckerberg claimed Instagram would continue to work with rival socials media. That will allow customers to upload on other services, follow customers beyond Facebook, and also to pull out of sharing on Facebook.
" For many years, we have actually concentrated on constructing the most effective experience for sharing pictures with your family and friends," Mr. Zuckerberg composed. "Currently, we'll have the ability to function a lot more carefully with the Instagram group to likewise provide the best experiences for sharing stunning mobile photos with people based upon your interests."
In a separate blog post on Instagram's Internet site, the company's chief executive, Kevin Systrom, additionally reiterated strategies to preserve the solution's functionality as well as stated he eagerly anticipated leveraging the brand-new parent business's resources and talent.
The announcement comes as Facebook gets ready for its very prepared for going public, widely expected to occur following month.
Though Facebook is recognized for smaller sized procurements, Instagram's rising momentum likely compelled the social network to promptly assemble a billion-dollar deal. Last week, Instagram, which has just a handful of employees, shut a financing round worth greater than $50 million with several prominent investors, including Sequoia Capital, an early backer of Google, Thrive Capital, the firm run by Joshua Kushner, and also Greylock Capital, a very early financier of LinkedIn. AllThingsD first reported last week that Sequoia was in the procedure of leading a $50 million round in Instagram
That latest funding round valued Instagram at about $500 million, according to someone with expertise of the matter, that requested privacy due to the fact that discussions were personal. Facebook's purchase, one week later, indicates that investment has actually now doubled in worth.
10 Reasons Facebook Bought Instagram
1. Due to the fact that it could. It's fairly uncommon for a business to drop an amazing billion heading right into its IPO, but Facebook currently has a ton of cash available (simply under $4 billion according to its S-1 declaring) thanks to personal share sales to Goldman Sachs, states University of Notre Dame biz prof Tim Loughran. "Facebook, with massive money accessible, is currently acting like a large, publicly-traded tech firm," claims Loughran. "Facebook really did not need to go public initial to obtain the cash to make the significant procurement."
2. Because it didn't want a rival to snap it up first. "It appears that Facebook really wanted to acquire Instagram prior to another bidder (possibly Google) made the deal," states Loughran.
3. Because Facebook's mobile application draws. Instagram's doesn't. "Will this deal look cheap in two years?" asks Victoria Barrett. "Possibly, if Facebook services your phone."
4. Because Facebook is having a midlife crisis, as well as the acquisition of the precious, hip photo-sharing app is its equivalent of buying a sportscar. The universal agreement is that Facebook isn't awesome anymore. It's obtained creases, or at the very least a lot more individuals with wrinkles. By getting Instagram, Facebook bought itself 30 million hipsters, and all of their terrific hipster cool.
5. Because most individuals get on Facebook to take a look at other people's images, as well as Facebook wishes to keep it that way. Now you'll have the ability to add all type of amazing filters to your Facebook photos, an attribute that brought in over 30 million people to Instagram. "Giving the best picture sharing experience is one reason that so many people enjoy Facebook as well as we understood it would certainly deserve bringing these 2 companies together," stated CEO Mark Zuckerberg. Om Malik at GigaOm translated that as: "Facebook was frightened s ** less and also recognized that for very first time in its life it perhaps had a rival that can not only consume its lunch, however additionally damage its future leads."
6. Much more data. Which translates into far better mobile advertisements. Techie Robert Scoble argues that Instagram has a better idea of what its customers are doing and also what they like doing. "If you are a skiier, you take photos of snow and also skiing. If you are a food lover you take images of food at premium restaurants. If you are into quilting, a great deal of your images will be of that," creates Scoble at Quora. "Facebook's databases need this information to maximize the media it will certainly bring to you. This information is WORTH S *** LOADS! Picture you're a ski hotel and intend to get to skiiers, Instagram will certainly give them a brand-new way to do that, all while being even more targeted than Facebook or else could be."
7. Because it wanted to purchase spirit. Facebook has actually ended up being a massive, economic leviathan, which makes it extremely appealing to capitalists yet makes it slightly harder to take Mark Zuckerberg seriously when he waxes poetic about the Cyberpunk Way. The users of Instagram are still enamored of their little app, so much so that they really feel furious concerning it selling out. "Facebook acquired things that is hardest to phony. It purchased genuineness," says Paul Ford at NYMag.
8. Because it's cheaper than inventing a time equipment. "Before Instagram, if I desired my images to resemble they were absorbed the '60s, I would certainly have to create a time device as well as travel back half a century," stated one of the Daily Show's "young people" reporters.
9. Because it wanted an upscale version of Facebook to keep the digital upper class satisfied. Equally As Williams Sonoma created West Elm for those who turned up their noses at Pottery Barn, Facebook requires an area where its customers can hang around where they won't run into the "technological laggards." "Facebook is not the chosen location or irreversible mailing address of the electronic upper class," composes Carles at Grantland. "While Facebook became one of the most important websites online by enabling mass-market audiences to join 'life' as we currently understand it, it is still under the hazard of becoming an impersonal experience without continuous technology that is aimed at making users seem like they are constructing something purposeful as they submit their 'lives' to the social media network. Getting on Facebook just does not make you feel like a VIP."
But getting on Instagram does, in part since it has actually been the unique provenance of iPhone individuals for as long. When it ultimately launched a version for the Droid, I snapped it up promptly.
10. Since it's terrified. "Youthful hot innovation companies are nothing if not knowledgeable about their death," write Nick Bilton as well as Somini Snegupta at the New York City Times. "Because many started out by injuring an older tech giant, they recognize they can be eliminated, or at the very least significantly hurt, by that which hides in the rented office of Silicon Valley-- an even hotter, younger technology business."


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So as of spring 2009, you'll be able to save WiiWare and Virtual Console titles purchased via the Shopping Channel to SD. At least if you live in Japan, anyway - no plans have so far been announced for North America and Europe.
Nintendo also wants to get more people using their Wii and DS to connect to the internet. They're planning to launch special Wi-Fi adapters, and offer an incentive of 500 points to new users.
Nintendo to fix Wii storage issues in 2009
Posted on Friday, Oct 03 2008 @ 00:35 CEST by Thomas De Maesschalck

domain: news


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Back in fashion: Pawnbrokers fill a credit gap as customers seek cash without hassle
Three brass balls hang above the door, but the interior is a far cry from the old backstreet image of the pawnbroker. Step inside the shop and you walk on plush red carpets and sit in leather chairs where you can browse through copies of Tatler and Vogue. Welcome to TM Sutton, the 'Harrods' of pawnbrokers. Among the current 'bargains' for sale is a £9,750 ladies Patek Philippe watch (£20,850 new) or a £3,200 diamond frog brooch.
Jim Tannahill, chief pawnbroker of TM Sutton in Victoria, central London, says: 'Our customers are wealthy - middle and upper class - who want ready cash without hassle. The average loan we grant is £2,000.'
As banks cut lending, pawnbrokers have stepped in to fill the gap - profits are up and the industry is enjoying a renaissance after decades of decline. The pawnbroking system is quite simple. Customers receive between 20 and 50 per cent of the cash value for their items, but they must pay monthly interest for up to six months.
Boom: Jim Tannahill's customers want quick loans
At TM Sutton, for example, loans of less than £1,000 attract six per cent a month, equivalent to nearly 85 per cent a year. Bigger loans have monthly interest of between four and two per cent. For example, a £10,000 Rolex hocked for £4,000 would incur a £160-a-month charge until it is redeemed.
A letter is sent 14 days before the six months is up informing customers that they must pay back what they owe or their valuables may be auctioned off.
Sue McGee, 57, has popped into TM Sutton with a £4,500 Cartier watch she regularly pawns when she needs cash. 'There's nothing to be ashamed of,' she says.
Dick Searle, 63, chief executive of The Packaging Federation, is picking up a £400 gold and diamond necklace for his wife.
Ready cash: Elizabeth Smyth chief executive of H&T Group
The item was made up of old pawned jewellery that was broken up to make a necklace and Dick believes it is a bargain. ' Pawnbrokers are back in fashion,' he says.
In Stretford, Manchester, John Nichols, 57, chief executive of H&T Group, one of Britain's largest pawnbrokers, says a typical customer borrows £120 using gold or jewellery as security.
About two thirds of H&T's 200,000 customers do not have a bank account. 'We serve those the banks have abandoned,' he says. 'We can be better value than a bank that stings customers with daily interest charges and huge unauthorised overdraft penalties.'
Widow Jay Palmer, 63, is pawning a necklace as she needs cash to pay utility bills. 'I remember as a child when my mother would pawn my father's Sunday best suit at the start of the week and then reclaim it at the end,' she says. 'I can see why pawnbroking is coming back into fashion as it offers a flexible and personal solution when you're short of cash.'
Pawnbroking is not only expanding on the High Street. Borro.com was launched recently, enabling people to hock valuables online. Borro picks up items and sends cash after agreeing a valuation.
It lends up to 40 per cent on pledged valuables and charges six per cent a month on loans of £1,000 and four per cent for higher amounts.
Spokesman Martin Campbell says: 'Going into a pawnbroker is daunting for many, especially those who don't like to negotiate face to face. Our online service circumvents this issue.'
However, Citizens Advice says people should be wary of using a pawnbroker if they have serious financial difficulties. 'Speak to your bank,' it says. 'If it won't help, visit your Citizens Advice branch where you will get free, confidential and independent advice.'
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The comedy-whodunnit 'The Afterparty' has been renewed by Apple for a second season on Apple TV+. The first season was a big success for Apple after a big promotion drive and additional content including a full EP release of songs by murder victim Xavier.
In a tweet mentioning the news, creator and director Chris Miller cryptically stated the second season would be 'WILD'.
The second season will feature a completely new cast but continue to follow Haddish's Detective Danner on a new case.
The season finale and reveal of the murderer is now available in your Up Next queue.
Check out our review of season 1 and interview with Chris Miller & Phil Lord.
Jonathan, ScreenTimes’ Contributing Editor has been lucky enough to work on Apple products his whole life, ever since his Dad brought home a Mac Performa aged 11 (him, not his Dad). Apple is just engrained in his life, especially nowadays, as a graphic designer. His nerdy enthusiasm for Apple is only matched by his love of TV and film. Whether a buzz-worthy new show or blockbuster, a small cult show or an indie film, he’ll watch it. So Apple TV meets right in the middle of that Venn diagram! He also writes on his personal site, smallbites.me. He lives in London and is writing his own bio in the third person.


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Metro Atlanta has established itself as a major hub for the fintech (financial technology) industry. According to the American Transaction Processors Coalition, more than 70 percent of all payments on a global scale currently pass through companies headquartered in metro Atlanta, earning the city the moniker “Transaction Alley.” As headquarters to large companies including NCR, WorldPay and First Data, the Georgia Department of Economic Development reports that Georgia fintech companies generate more than $72 billion annually, third in the nation behind New York and California.
So how did we get here in such a short amount of time? Here are three reasons why the fintech industry is thriving in Atlanta:
- Incubators and accelerators
Atlanta is home to a host of startup incubators dedicated to creating environments for early-stage fintech companies to grow. Founded in 1980, The Advance Technology Development Center (ATDC) at Georgia Tech boasts a 90 percent success rate for its startups after their first five years. Much of ATDC’s success in helping fintech companies over the years is tied to the level of access it provides to Georgia Tech resources, mentorship by seasoned entrepreneurs and the support of established corporate partners. Additionally, the Atlanta Tech Village is the fourth largest tech hub in the U.S. and stands as a great resource for startups, promoting faster connections between talent, ideas, and capital.
- The whole ecosystem is local
Atlanta is not only home to incubators but also processing companies, payments companies plus a strong venture capital community. Many local venture capital firms focus solely on fintech for their investments, which has strengthened Atlanta’s economy and increased technology developments within the financial services industry.
- Technology sector talent
According to The Atlanta Journal-Constitution, Atlanta is ranked 10th out of 100 metro areas for STEM professionals in terms of career opportunities, and students interested in a career in the fintech industry are able to find comprehensive programs at many local academic institutions. For example, Georgia State University offers one of the first university fintech-specific labs through its J. Mack Robinson College of Business. The University of Georgia offers an MBA with a concentration in financial technology, and Georgia Tech’s engineering programs are all ranked in the top 10 in the nation, with programs available that focus specifically on innovation within the fintech industry.
With all of this talent and fintech activity in Atlanta, professionals need a resource to keep them updated on happenings and networking events within the industry. Whether you are looking for a smaller meeting or a large trade show or conference, William Mills Agency’s Atlanta FinTech Event Calendar is a valuable tool to help you find local events that might be of interest to you and your organization. Please click here to view the calendar!


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- Our Blog
In an email to advertisers, Amazon announced yesterday that they will be discontinuing Amazon Product Ads on October 31st. This was a disappointing announcement for many retailers because not only were Amazon Product Ads one of the largest revenue producers among feed-based ads, they were also growing faster than all other comparison shopping engines (CSEs).
Earlier this week, the comparison shopping engine Pronto announced via email that, beginning November 20th, they would no longer work directly with retailers to publish ads to their site. Prior to this date, advertisers could submit a product feed directly to Pronto with tailored bids and product filters based on Pronto’s individual performance.


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Park Pictures' Terri Timely Duo Provides Perspectives On The Vast IBM Cloud For Ogilvy NY
Directing duo Terri Timely of Park Pictures takes an architectural look at the world of the vast IBM Cloud in this :60 titled “Designed for Data” out of Ogilvy NY. The spot utilizes Terri Timely’s signature clever visual composition to snapshot the limitless array of data that can be stored in the IBM Cloud. Within a continuous shot panning out, we see a sleek warehouse with a meticulously constructed lineup of vignettes building upon one another, magnifying the depth and variety of businesses’ usage of the cloud.
The IBM campaign also includes three Terri Timely-directed :30s that highlight real customers, including “Built for Transformation,” “Ready for New Business Models,” and “Spotlight on Dark Data.”
Client IBM Agency Ogilvy New York Steve Simpson, chief creative officer, North America; Jeff Curry, executive creative director, lead creative on IBM; Mark Koelfgen, executive creative director; Laurence Gega, Jason Slack, creative directors; Rebecca Patrick, creative manager; Steve Ford, executive producer. Production Park Pictures Terri Timely, director; Jackie Kelman Bisbee, Justin Pollock, exec producers; Anne Bobroff, head of production; Michelle Currinder, producer. Editorial Friendshop! Ben Suenaga, editor; Melissa Mapes, editorial exec producer; Garrett Crabb, editorial producer. VFX Art Jail Steve Mottershead, VFX creative director/owner; John Skeffington, VFX head of production
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Each year, several national restaurant chains and local restaurants offer free meals or some other form of special discount to veterans and active-duty military members for Veterans Day. A handful of those restaurants extend the special offers beyond Veterans Day.
In some cases, franchise-operated restaurants of national chains do not follow the same offer that is spelled out on the chain’s web site, so it’s always a good idea to call ahead to confirm offers to avoid any misunderstanding.
Here are some of the restaurants and restaurant chains with Veterans Day specials:
• All southwest Ohio Olive Garden restaurants on Monday, Nov. 11, will offer veterans and active military members with a military ID a free meal from a special menu, and the veteran’s family members will receive a 10 percent discount. And the restaurants are offering 10 percent off for the entire month of November for active military members with ID and for their spouses and children. The offers exclude alcoholic beverages, tax and gratuity.
• Applebee’s restaurants on Monday, Nov. 11 will offer veterans and active duty military a free entree chosen from a special menu. Guests will need to provide proof of service, which includes: U.S. Uniform Services Identification Card, U.S. Uniform Services Retired Identification Card, Current Leave and Earnings Statement, Veterans Organization Card, photograph in uniform or wearing uniform, DD214, Citation or Commendation. Offer is valid for dine-in only. Traditional sides are included with free entrees; some appetizers, upgraded side items or extras, beverages, desserts and gratuity are not included. The offer is good during normal business hours on Nov. 11. Hours vary by location.
• Texas Roadhouse restaurants throughout the country, including those in Fairborn, Huber Heights and Springfield, are inviting veterans and active members of the U.S. military to enjoy a free lunch on Monday, Nov. 11. Here’s how it works, according to a Texas Roadhouse news release: All veterans — including all active, retired or former U.S. military — can choose one of 10 entrees, including a 6-ounce sirloin and two made-from-scratch sides plus a choice of any Coca-Cola product, sweet tea/ice tea or coffee during lunch. Proof of service includes military or VA card or discharge papers. The offer is good from 11 a.m. to 2 p.m. Nov. 11.
• City Barbeque will offer a free half-pound sandwich platter to all military veterans and troops on Monday, Nov. 11. All City Barbeque locations in central and southwest Ohio are participating. The offer is good for either dine-in or carryout orders.
• Golden Corral will offer active duty and retired U.S. military a free dinner buffet and beverage from 4 to 9 p.m. on Monday, Nov. 11. Those who are serving or have served in a U.S. military branch, including the National Guard and Reserve, are included in this offer, and identification is not required, a Golden Corral spokesman said. Golden Corral operates restaurants in Beavercreek, Miami Twp., Butler Twp., Springfield, Franklin and Fairfield,
• Champps Americana, which operates a sports bar-restaurant in Washington Twp., will offer veterans a free burger and waffle fries on Monday, Nov. 11. Vets can choose from among seven specialty burgers. Guests will need to provide proof of military service, which include U.S. Uniform Services Identification Card, U.S. Uniform Services Retired Identification Card, Current Leave and Earnings Statement, Veterans Organization Card, a DD214, Citation or Commendation, or wearing a uniform. Offer is valid for dine-in only, and beverages and gratuity are not included.
• Panera Bread on Monday, Nov. 11 will offer all military personnel with ID a free “Grande Brewed Coffee” and a free bagel with cream cheese.
• On Monday, Nov. 11, Spaghetti Warehouse Restaurants Inc. is offering a special “buy one entree, get one free” coupon offer and is encouraging its guests to invite a veteran to lunch or dinner. With the coupon, Spaghetti Warehouse guests will be able to choose any one of the restaurant’s 11 Original Recipe Spaghetti entrees or its 15-Layer Lasagne and receive a second entree free. The coupon is available online on Spaghetti Warehouse’s website at www.meatballs.com, and on the restaurant’s Facebook page at
• The Donut Haus in Springboro is offering specials Monday, Nov. 11, in which any veteran with proper ID can pick out any one bakery item in the shop’s display case and any beverage at no charge, and can also receive 50 percent off any one dozen doughnuts on both days, with a limit of one dozen.
• Friendship Village Retirement Community is offering free breakfast for all area veterans and their spouse at 8:30 a.m. on Monday, Nov. 11 followed by a Veterans Day program at 9:15 a.m. Reservations are required and may be made by calling (937) 837-5581, ext. 1274.
Other chains that mention at least some sort of Veterans Day deals on their web sites or on social media (be sure call ahead to your local restaurant to confirm) include Bob Evans, OinkADoodleMoo, Tim Hortons, Denny’s, Krispy Kreme, Chili’s, Max & Erma’s, O’Charley’s, Lone Star Steakhouse, Longhorn Steakhouse, Outback Steakhouse, McCormick & Schmick’s, Red Lobster, TGI Friday’s, Friendly’s, Smokey Bones and Carrabba’s Italian Grill.
More online: Discover up and coming restaurants in your neighborhood at MyDaytonDailyNews.com.


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Supreme and Nike are no strangers to collaborating with each other. They have teamed up many times in recent years to bring us some of the most sought-after Nike & Jordan brand sneakers.
It’s Yeezy season! You can try your luck to pick up the latest Yeezy x adidas offering this Saturday
Supreme week eight release info is here! If you haven’t seen it or heard about it, the Supreme x Comme des Garçons collab is finally here!!
Technically, Thursday has begun and it’s a true countdown to Supreme Week Seven drop. A
double collab week!
It’s Wednesday, so this can only mean one thing: Supreme Week Six release info is here!
Jerry Lorenzo, founder of Fear of God, teams up with Pacsun for the third time! For this collaboration, Fear of God x Pacsun bring us the Essentials Collection.
Get ready Jordan fans, this weekend brings us another Air Jordan release! For this weekends release, Jordan brand is bringing out the Air Jordan Retro 1 High Royal, which made its first debut way back in 1985.
It’s Wednesday, so this can only mean one thing: Supreme Week Five release info is here!
The Kaws Capsule x Air Jordan retro 4 is finally coming out this month! After a few rumors earlier in the year, we finally have a release date for the Jordan 4.
The Nike Atmos Air Max 1 is returning! Voted back during last year’s Air Max day, you now have a chance to own the infamous Atmos Elephant AM 1.
It’s Wednesday so that can only mean one thing. Supreme week three release info is here!
The online release of Supreme week one was a mess!
Good news Nike heads, Nike Air Max day 2017 is approaching! If you remember last year, Nike had a dedicated site running the “Vote Back” poll. This allowed many Nike fans to place their votes for an AM1 model that they want to see reissued on Air Max Day, the following year.
Adidas Sneaker Exchange is back with a March release! This time around, Kith x Naked team up to bring us the latest offering in the Adidas Sneaker Exchange program
So far 3 footsites have confirmed that they will not be receiving the V2 Zebra color-way.
It’s that time of the year again, Supreme is back with its Spring, Summer 2017 season
The Supreme Air Max 98 will release Thursday April 28, 2016. The shoe will only be available on the Supreme online shop.
The all black and all pink Adidas Tubular Doom is set to release this Saturday April, 16th 2016. With so many recent consortium collaborations and the massive amount of NMDs the Tubular Dooms have been overshadowed this year.
The Air Jordan 12 French Blue will release on April 2nd, 2016, the shoe will make its first return to stores since its 2004 release.
The Adidas Solebox Ultra Boost uncaged will finally get its global release this Saturday, March 26 2016.


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Big Basket ahead of e-commerce giants Amazon and Flipkart in eliminating single use plastics
- E-commerce platforms like Amazon, Flipkart and BigBasket are racing to eliminate single use plastic from their packaging.
- BigBasket is ahead of the curve as it replaced plastic packaging with paper bags completely three years ago.
- Amazon India plans eliminate single use plastic by June 2020 and Flipkart is aiming for March 2021.
"To a large extent we have reduced plastic to a large extent right from before. It’s not recent," Pooja Ravishankar, head of category marketing at BigBasket told Business Insider.
For the past three to four years, BigBasket has stopped using plastic entirely to deliver fruits and vegetables to its customers. "All our fruits and vegetables come in a paper bag," said Ravishankar.
Amazon India, on the other hand, plans to eliminate all plastic packaging and replace it with paper cushions by June 2020.
Walmart-owned Flipkart’s plan is to use 100% recycled plastic in their supply chain by March 2021. The company claims that it has been able to reduce its single use plastic consumption by 25% as on 1 August, 2019.
Flipkart stated that it plans to replace poly pouches with recycled paper bags and bubble wrap with carton waste shredded material.
Challenges of making the transition from plastic to paper
When BigBasket made the switch from plastic bags to paper bags for their fruits and vegetables, their primary concern was that they might lose customers as a result.
"We were very worried because plastic gives you that transparency and vegetables look a lot nicer in plastic. Paper is opaque, and customers can’t see them. It’s a very touch-and-feel category," said Ravishankar.
Despite the apprehension, BigBasket did not lose customers. They went ahead and switched other grocery categories to paper packaging as well and their bills are printed on recycled paper.
Advertisement"We want to reduce the packaging on fruits and vegetables as well. At the end of the day, paper packaging means trees are being cut down. Eventually we would want to move onto the thela (cloth bag) system," explained Ravishankar.
Eliminating packaging altogether
But, there’s still one challenge that remains — staples. Due to their weight and quantities, BigBasket still has to use plastic to deliver things like atta (flour) and dal (pulses). The company is mulling over shifting to recycle plastic to solve the conundrum
"One of the dreams that we have is that we want to get rid of packaging completely. It’s a vision for us," stated Ravishankar.
India has plans to implement a country-wide ban on single use plastic on with Prime Minister Narendra Modi expected to announce new guidelines today, 2 October 2019.
During India’s 73rd Independence Day, Modi emphasised immediate measures that could put in place to eradicate non-recyclable plastic.
Flipkart and Air India become the first in their sectors to begin the fight against plastic
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*Google likely to face first EU sanction in 2016- sources. BRUSSELS, April 29- Google is likely to face its first European Union antitrust sanction this year, with little prospect of it settling a test case with the bloc's regulator over its shopping service, people familiar with the matter said. Such a change of heart appears unlikely, with European Competition... » Read More
Spanish member of European Parliament Ramon Tremosa i Balcells, says that a break-up of Google's search engine operations from its commercial business is a possibility if the search giant does not offer a remedy to the antitrust case bought against it.
Cyrus Mewawalla, managing director at CM Research, says the European Union's complaints against Google are not about antitrust, but about the search giant's "behavior" in the region.
Speaking ahead of a key vote on Google in the European Parliament, Spanish MEP Ramon Tremosa i Balcells, says the U.S. search giant has become a "monopoly" in Europe and is stifling the competition.
Jörg Wuttke, President of the European Union Chamber of Commerce in China, explains the concerns of European businesses regarding Chinese anti-trust probes.
A new free trade agreement may give companies from South Korea a serious leg up—in China.
Dollar General may need to divest more than 4,000 stores to win approval from the U.S. Federal Trade Commission for its acquisition of Family Dollar.
Kurt Hallead, RBC Capital Markets, discusses the proposed $67 billion merger between oil behemoths Halliburton and Baker Hughes and the possible antitrust issues it's likely to run into as oil prices head lower.
The latest in Google's 4-year battle to defend itself in an EU antitrust case.
The anti-corruption campaign which has swept across China in the last two years has gone global. The Financial Times reports.
China's clampdown on corruption and extravagance has benefited the world's largest advertising agency, WPP's CEO told CNBC.
NDRC's direction of investigations has drawn heavy criticism from foreign officials and the overseas business community.
Workers in a southern Chinese plant downed tools after Beijing's anti-graft campaign deprived them of free mooncakes. The Financial Times reports.
Foreign companies in China appear to be pushing back against increased scrutiny from Chinese government anti-trust enforcers. The New York Times reports.
Warren Buffett's Berkshire Hathaway is paying almost $1 million to the government for failing to make disclosures required by antitrust law ... again.
Mercedes-Benz has been found guilty of manipulating prices for after-sales services in China, the official Xinhua news agency reported.
China's recent anti-monopoly law enforcement may be less about targeting foreign companies than combating another potential threat: income inequality.
European companies have lashed out at the Chinese government, saying that they have been subject to "intimidation tactics" by officials.
Men in suits and casual business wear barged into Mercedes-Benz's east China sales office, near Shanghai's Hongqiao international airport on Monday.
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After 21st Century Fox's failed bid to acquire Time Warner, the question arises as to what other media giants are now in play for purchase?


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With electric vehicle (EV) sales booming, soaring numbers of drivers are putting themselves at the mercy of a charging network that rapidly becoming overburdened.
In the US there have already been rows at charging points as drivers squabble over access and the phenomenon has even been given a (rather ungainly) name: charge rage.
Founder of rapid charging point company Ecotricity, Dale Vince, says the network is coping at the moment but admits his company does have some busy sites. “We do get charge rage if someone ICEs your bay. And people don’t like it if someone parks a Tesla to charge for two hours. When your car has finished charging, our message is: move it.”
ICE-ing is EV owner-speak for when an internal combustion engine (ICE) car blocks or parks in a charging point space. On EV internet forums, stories of drivers being ICEd abound. But rather than scuffles breaking out, if stories are to be believed, British EV drivers resort to leaving notes and icy stares when the offending ICE driver returns.
“The vast majority of EV drivers are very accommodating,” Vince adds. How relaxed they will be as they become more numerous remains to be seen. In March, more than 17,000 new electric or hybrid models left showrooms. That’s more than 12 times the number that was sold in the same month 10 years ago. In 2015, sales of cars eligible for the government’s plug-in grant were up by 94 per cent compared to the previous year.
Now, measure that against charging points. According to online database Zap-Map, there are currently 10,727 public connectors in the UK. Between February 2015 and January 2016, the number increased by 48 per cent from 7,091 to nearly 10,500. So the number of charging points is growing quickly. But not at the same rate as EV sales.
There are now estimated to be in excess of 70,000 pure electric vehicles on UK roads. That’s about seven vehicles for every charging point, even before you take plug-in hybrids into account.
Whether the chargers that are installed meet people’s needs is another question altogether. There are essentially three sorts of charger: slow, fast and rapid. Around a quarter of all the UK’s public charging points are slow chargers, Zap-Map says. These are similar to plugging into your regular domestic supply at home and will take six to eight hours to return something like a Nissan Leaf to full charge. For electric vehicle users these are pointless, unless desperation outweighs pragmatism.
More than half of the publicly available chargers are fast chargers. Rather belying their name, they will give a full charge in three to four hours and return a full-electric car to 80 per cent charge in half an hour. The remaining quarter are rapid chargers. The holy grail of car charging points, these will fully charge a car in half an hour. But they will also deliver 20 to 30 miles of range in about 10 minutes.
Charging points can be a potential problem for companies that put them in for employees, too. Elm EV is a Sunderland-based company that installs chargers for organisations all over the country. Its commercial director Dan Martin explained: “Everyone has to play ball. You can’t hog the charger. There is a bit of etiquette involved among the people who use our EV charging posts.”
To ensure things go as smoothly as possible, the company has set up an online calendar for people to book their slots. Of course if you install more charging points the problem will solve itself. But it’s easier said than done. “We do have a challenge with infrastructure for EVs,” Martin said. “That sort of thing costs a lot of money.”
In fact a, single basic charge point will cost about £1,400. A dual unit fast charger will be about £3,500 and then there’s a massive jump to £22,000 if you want to install a rapid charger. Hardly surprisingly some companies that put in rapid chargers want reimbursement. Yet this is at odds with electric car owners who frequently make the switch to battery power because of promised fuel savings.
The Electric Vehicle Drivers Association (EVDA) claimed that increasing costs for power were in danger of killing the market at a stroke. And in a letter to charging point supplier Chargemaster, the EVDA claimed: “This means that the driver of an extended-range EV with an on-board generator (like the BMW i3 or Vauxhall Ampera) would be better off using petrol.”
The good news for EV drivers is that Ecotricity’s 250 points are free and it’s planning to double that number within the next 18 months. The bad news is that as EV sales boom drivers are likely to find it increasingly difficult to plug into a vacant charger. Philip Gomm from the RAC Foundation said: “In London a lot of charging points are out of action for a lot of the time. To roll out a network of charging points is an immense task and there will be practical problems if the rate of EV take-up continues.


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STAFF at seven businesses based at The Valley have become Dementia Friends to help improve the shopping experience for those living with Dementia.
Last Wednesday (March 8) staff from Evesham Garden Centre, Bessie and Boo, Mountain Warehouse, Cotswold Needlecraft, Absolute Silver, Paves and Julian Charles took part in a training session hosted by the Alzheimer’s Society.
During the session, run by Dementia Friends Champion Elizabeth Green, staff were given advice and tips on how to make their shops as dementia friendly as possible.
It’s all part of Evesham’s campaign to be officially recognised as a dementia friendly town, with the bid being led by the Evesham Dementia Action Alliance. The group is trying to get as many staff as possible at businesses across the town to become Dementia Friends.
Marketing manager at The Valley, Phil Maclean, said: “In an ageing generation living longer, we recognise the importance of the Dementia Friends movement and want to work towards harnessing a shopping environment that welcomes both people that live with Dementia, their carers and their friends and families.
“We would like to thank Elizabeth for delivering such a positive workshop, and because of that we have all gone away with Dementia at the forefront of our minds.”
Anyone interesting in becoming a Dementia Friend can contact the Alzheimer’s Society’s Worcestershire Office on 01905 621868 to find out details of sessions being organised by the Evesham Dementia Action Alliance.


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SoC developers for mobile computers NVIDIA, Broadcom and Marvell Technology, probably soon begin to build an 8-core processors for smartphones. Qualcomm has already announced its intention to release samples of 64-bit 8-core chips Snapdragon 615 in the third quarter of 2014.
Brisk sales of 8-core chips MediaTek and Samsung working on updating their decisions pushed Qualcomm SoC and other manufacturers to accelerate their development of similar models. In addition, the issue of Chinese companies inexpensive 8-core smartphone was the decisive factor for expanding the use of these solutions beyond the high-performance segment of the devices to the mass consumer market. This, in turn, created additional pressure on suppliers who do not have in its range 8-core processors.
At MWC 2014, Samsung announced the release of a special version of its flagship Galaxy S5 based on the new 8-core Exynos 5 Octa 5422, presented at the exhibition. Also, there were reports that the 8-core processors will underpin Google Nexus 6, Huawei Ascend D3 , flagships from HTC , Xiaomi and Blackberry .
It is also reported that the Chinese company ZTE is preparing its own eight-core processor. In the same direction works and Korean LG, developing high-performance chip Odin for their functional televisions. And Taiwan’s MediaTek announced a single-chip system MT6595 , unifying core Cortex-A17 and Cortex-A7.
8-core processors are now presented solutions based on ARM-architectures from simple Cortex-A5 to advanced Cortex-A17, with some chips can activate all the available number of cores, while others use the configuration big.LITTLE, cycling while only half of the computational units . In the desktop segment is stagnating and no urgent need to increase processor performance.


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News & Events
January 31, 2017
GridNavigator Automated Energy Management Service
GridNavigator, a manufacturer of smart devices for the commercial market, has announced the availability of an industry-first automated energy budgeting and demand reduction service to help small-to-medium businesses (SMBs) to proactively cap their monthly building energy bills. The service works with GridNavigator lighting and HVAC controls and sub-meters and can deliver a 5-10% reduction in monthly energy bills with no significant impact on facility performance or comfort.
The power budgeting service predicts periods of high electrical demand in real time before they occur, allowing GridNavigator’s smart controller to automatically adjust thermostat set points and light levels. The smart forecasting system allows customers to minimize the peak demand charges levied by their electrical supplier with a minimum of manual monitoring and intervention. The system is available to electrical contractors and resellers as part of a complete GridNavigator solution.
“Control equals savings. GridNavigator helps us to deliver solutions to our clients that take advantage of the latest technology trends in building automation,” said Leo Rioseco, President, Gables Grove Construction. “This is a sophisticated system that is easy to install and use and can quickly lower overall total cost of ownership.”
The GridNavigator service creates a customized demand response program, which is different than utility automated demand response (ADR) programs that control customer power consumption in response to peak demand. The service integrates with GridNavigator-branded lighting and HVAC control systems including the company’s inside fixture controller (IFC), LED ballast, occupancy sensor, all-in-one sensor, smart thermostat, wall switch, bridge controller and sub-meter, and can be managed from a smartphone app. Business-critical devices such as motors, grills and other industrial equipment are not affected.
“Budgeting and reduction of monthly demand can save thousands of dollars for businesses without compromising operation and comfort,” said Al Cabrini, Founder and CEO, GridNavigator. “This new service is like a continuous demand response initiated by the customer and not the utility company – it is more sophisticated than simply rationing electricity usage.”
GridNavigator is a leading provider of intelligent energy management systems (EMS) for commercial & industrial applications. It offers the industry's first intraday energy forecasting service. The company was founded in 2009 and has customers in the education, government, property management and healthcare sectors. More information is available at http://www.GridNavigator.com.


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The Lucky Jotter returns to Blackpool
Since winning the Oracle Young Enterprise Challenge in January 2013, an enterprise event which was organised specifically for 18 to 24-year-olds in Blackpool, Joseph Pegler has established himself as a successful independent curator and now holds exhibitions featuring the work of artists from around the world.
Industry experts recognised Joseph’s entrepreneurial spirit and saw great potential in his idea to launch a showcase promoting artists and writers.
Joseph founded The Lucky Jotter whilst studying at the Blackpool and The Fylde College, and has now developed his business into an international art showcase featuring emerging artists.
The Lucky Jotter International Art Showcase is currently exhibiting artists from around the world in the University Centre Gallery within the Blackpool and The Fylde College. The exhibition runs until Friday 18 November.
Over the years, The Lucky Jotter has exhibited in major cities such as Manchester, Nottingham and Berlin, and featured work from South Korea, Istanbul, the United States of America, Belgium, France and the United Kingdom to name but a few.
Joseph, a former pupil at Cardinal Allen in Fleetwood said: “Using the knowledge and guidance from the Get Started team, and affiliated mentors, I have been able to take the brand to different cities and countries.
“As a new business it is vital that you take advantage of advice when available, and I cannot thank Blackpool Council’s Get started team as well as the Culture, Libraries, Heritage and Art team, enough for their continued support.
“Over the past four years I have succeeded in my mission to provide a service that exposes artists’ work to the public through our online sites and exhibition shows. Our online platform showcases a mixture of amazing talent, with a handful of the featured artists being award winners in their chosen field.
“Blackpool and The Fylde College have welcomed us back to host our eighth exhibition in the University Centre Gallery. We are currently showcasing the very best work from our featuring artists, focusing on beauty and the simplicity of modern art.” Cllr Mark Smith, Blackpool Council’s Cabinet Member for Business and Economic Development, said: “It’s fantastic to see that Joseph is doing so well. I am delighted that we were able to help him develop his idea and offer him continued support.
“Joseph has expanded to a second studio in Manchester which has helped him further his professional career and his Blackpool born business, The Lucky Jotter – he is a true home grown entrepreneur.
“90% of the businesses that Get Started has helped in the last two years are still operating and in some cases, doing very well indeed. That’s because businesses can still benefit from our expert advice and support even after they are up and running.”
Nigel Brown, Head of Creative Arts and Digital Industries at B&FC, said: “It is always a pleasure to see one of our students go on to have global success and we were delighted to be able to welcome Joseph back with his Lucky Jotter exhibition. “Joseph’s idea for a showcase to promote artists’ work has been very well-received and has seen people from around the world get involved with this project. The current exhibition in our University Centre Gallery features a wide range of international contributors.
“Like many of our students, Joseph has gone on to make a real mark in the industry and we are delighted to welcome him back to Blackpool.”
For more information go to www.theluckyjotter.com
To find out if you could become your own boss, contact Get Started on 477147 or search www.blackpool.gov.uk/getstarted


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How automation can help the grocery industry adapt to the changing landscape. By Andy Blandford
The coronavirus pandemic saw the mundane transform into the essential. Services previously taken for granted were suddenly catapulted into heightened appreciation whilst some previously overlooked segments of the community became instant heroes.
As lockdown loomed and anxieties around food provision spiraled, supermarkets were placed under unprecedented strain evolving from a commodity we all take for granted into a service essential to sustaining the nation through the crisis of a generation.
Not only were we buying in higher quantities than normal, but the way in which we bought our groceries also changed dramatically. From February to March 2020, grocery delivery apps saw a staggering 218 per cent surge in downloads (Apptopia), illustrating the sudden switch to essential shopping online.
Although the shift to buying online groceries has been taking place for a while, for many consumers still wedded to a weekly physical trip to the supermarket, the Covid-19 pandemic served as a catalyst for long term behavioral change and helped to reframe consumer expectations around grocery shopping. It is now normal to expect to complete the weekly shop from the comfort of your living room and the industry’s ability to meet these new expectations safely and efficiently will be fundamental to its future growth.
Delivering groceries accurately and efficiently doesn’t come without its hurdles. From a logistical perspective, the accelerated switch from physical to online shopping presented many significant challenges to grocery retailers as they scrambled to keep up with unrelenting demand.
Demand during the pandemic for superhuman rates of pickup and delivery caused many grocery retailers to turn to third party services to boost their e-commerce capabilities. However, it soon became apparent that these services did not necessarily have the flexibility needed to meet the increased demand, especially during peak ordering times. In a bid to solve this, many retailers looked to temporary hires to expand their resources. Over the course of the pandemic alone 300,000 short term workers were hired. But this solution was also not without its flaws. Despite the influx of labor, consumers still regularly had to wait days, weeks and in some cases months for delivery slots to open with many tiring of the process, abandoning brand loyalties and jumping ship to competitors.
Staffing issues brought on by the pandemic were also compounded by its unique restrictions. No longer able to rely on large volumes of manual labor due to social distancing requirements, grocery retailers found themselves in need of new ways to carry out fulfillment operations.
Whilst the worst of the pandemic’s first wave is seemingly over, in the absence of a vaccine, it’s clear that social distancing measures will remain in place for some time. In order to survive future spikes in demand, such as Christmas and Black Friday, a new approach to product fulfillment will need to be adopted.
Looking to the future
If the grocery industry is to survive the disruption caused by Covid-19 and remain robust in the face of changing consumer demand, a willingness to embrace long term change to supply chain and fulfillment operations is required.
Pre-pandemic, the industry was slowly becoming accustomed to the benefits of supply chain automation, but the unique pressures imposed during this period have significantly accelerated that process. At Dematic we believe Covid-19 has been a tipping point for supply chain automation across all aspects of the retail sector and grocery is no exception. It has placed into sharp focus the benefits of convenience and flexibility that automation technology can provide over traditional, more manual supply chain processes.
A big area in which we are seeing growing appetite for investment in the grocery retail sector is micro-fulfilment technology: compact but highly efficient fulfilment operations taking place at the closest point to the consumer. Micro-fulfillment solutions, in footprints as small as 10,000 sq. ft, can be housed in the back of a store or in an urban fulfilment center. This technology can be used to react to peak demand quickly by shifting between online and in-store fulfilment as well as helping retailers take ownership of the speed at which customers receive orders whilst maintaining the best possible customer experience.
Another important area for potential investment is in Automated Guided Vehicles (AGVs), which can significantly improve shipping speed and accuracy as well as protecting the health of staff by minimizing human contact. These vehicles can also be deployed easily within existing delivery and storage systems allowing for rapid responses to changing demands.
Whilst the next chapter in the coronavirus saga remains uncertain, one thing is sure, we are living in an increasingly volatile world. Every industry, grocery included, will need to prepare for this reality going forward. Investing in supply chain automation is a simple yet effective way to do this. Embracing the power of automation will equip grocery retailers with the agility required to deal with market fluctuations whilst conveniently slotting into their current operations. As industry changing trends arrive with greater frequency, we at Dematic believe that automation technology is no longer an option but a necessity.
Andy Blandford is Senior Vice President and Managing Director at Dematic, an intralogistics innovator that designs, builds and supports intelligent, automated solutions for manufacturing, warehouse and distribution environments for customers that are powering the future of commerce. With engineering centers, manufacturing facilities and service centers located in more than 25 countries, the Dematic global network of 10,000 employees has helped achieve more than 6000 worldwide customer installations for some of the world’s leading brands.


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EA Sports PGA Tour fans will have noticed a new update rolling out today, June 14, fresh on the heels of the significant content drop for Season 3. However, with EA remaining silent on the specifics, players wonder what this latest patch entails.
EA has not released any official patch notes for the June 14 update. The official EA Sports PGA Tour Twitter account hasn’t acknowledged the patch either, keeping players in the dark about what changes have been made to the game.
Given that a significant content update was released just yesterday, we anticipate that today’s update is likely focused on bug fixes and minor improvements. Such updates are everyday after significant patches, allowing the developers to address any unexpected issues or glitches following the new content release.
Although specifics are currently lacking, we are monitoring all official channels for any announcements related to the patch. We will promptly share these details with our readers as soon as any information becomes available. In the meantime, players are encouraged to share any changes they’ve noticed since the update.


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1It’s all about the consumers, silly!
Technology is revolutionizing the way shoppers select their merchandise in a store. Be it smart fitting rooms which give suggestions based on customer’s preferences or be it iPads in store that allow customers to find a particular product or shop for the sizes, color or designs which are not available in the store, retailers are capitalizing on cutting-edge technology to offer never-before solutions to shoppers.
‘Experiential Retail’ has become the code of the moment; delivered through convenient accessibility, in-store features, and out-of-the-box blends of the physical and digital shopping universe.
Globally, retailers are using various technologies and innovations that not only provide a seamless shopping experience but also reflect on their overall sales and revenues. While Indian retailers are travelling fast to meet the demands of this new-age digital customer, and have already shifted gears from products to consumers, they must keep an eye on these five innovative retail technologies – that are proving to be a game-changer for retailers in the West – to further elevate the consumers’ experience in India.
Beacons have been generating a buzz, globally, since 2013, when Apple first introduced iBeacon technology. While analysts had then predicted that this new way of connecting with customers might be slow to catch on, it’s time has finally come.
A report by Business Insider predicts that beacons would be driving $44 billion in retail sales (for global retailers) by 2016, a ten-fold increase from $4 billion in 2015.
So what are beacons? Beacons transmits instant shopping alerts to all smartphone users inside the store area. They are a low-cost piece of hardware – small enough to attach to a wall or countertop – that utilize battery-friendly Bluetooth connections to transmit messages or prompts directly to a smartphone or tablet.
Retail outlets globally are adopting these devices to provide customers with product information, flash sales or deals, and to speed up the checkout process with a completely contact-less payments system. Prominent stores across the USA, including Lord & Taylor, Walmart, Urban Outfitters and Sephora, are using the technology to push targeted messages to shoppers on their smartphones. The most popular are: personalized coupons, latest products, and updates on what other people are buying. It successfully creates a buzz and translates into an immediate uptick in sales.
Half of the surveyed adults in the USA are receptive to such technology as they feel it would benefit them. The technology is not intrusive and the shopper can turn off his Wi-Fi if he doesn’t want to receive any messages. He can also decline to share his GPS coordinates with the mobile application and therefore maintain his privacy.
Last year, several leading retailers started testing the beacon technology, including Macy’s and Target. Hundreds of big retail chains are turning on those devices and using them in many more innovative ways, such as promoting loyalty programs, collecting valuable data on customers’ in-store activity, and encouraging them to download mobile apps.
A 2015 study by Harvard Business Review found out that retailers can lose nearly half of intended purchases when customers encounter stock-outs in store. Those abandoned purchases translate into sales losses of about 4 per cent for a typical retailer. For a billion-dollar retailer, that could mean $40 million a year in lost sales.
On the other hand, relying on humans to update pricing or restock items ends up being costly and time-consuming for any businesses. That’s why major global retailers like Whole Foods, Walgreens, Lowe’s, among others have turned to smart-shelf technology to monitor inventory in real time.
A smart shelf is a shelf in a store that has been equipped with an RFID reader. The RFID reader can be built-in the shelf itself or be installed behind/under/above normal shelves. By continuously scanning the RFID tagged items on the shelf, the RFID reader consistently notifies the back-end system about the existing items and their movement. With smart shelves, retailers keep track of inventory, advertise directly to consumers and update prices in real time based on demand. With this technology, big box retailers are solving a big pain point of inventory management.
In 2015, Panasonic introduced its Powershell suite at the 104th annual National Retail Federation (NRF) convention and expo. The fully integrated system, which is battery-free, wirelessly powers electronic shelf labels that can update product prices in real time as products go on sale or are about to expire. This saves store personnel from having to update price stickers manually.
Mondelez International, maker of Cadbury chocolates and Trident gum, also announced smart shelves for stores’ displays near checkout counters in October 2013. The shelves’ sensors analyzed facial structure and other characteristics to determine age and gender of consumers’. Then, the shelves display something the person might buy, possibly with a video for that demographic.
Virtual reality, largely touted as the future of retail is a phenomenon wherein brands create fully immersive, contextual experiences that reach beyond existing physical and digital channels. This new – and fantastically, almost real, and tailored – shopping experience has been dubbed v-commerce.
Retailers are venturing into v-commerce for the same reason that they are providing consumers with value-added services – to steal the show from online shopping. There is no concept of space and time and retailers can transport consumers into any reality that contains their product.
The global augmented reality application in retail and e-commerce is expected to reach $14.07 billion by 2020 growing at yearly rate of 96.9 per cent according to report by MarketsandMarkets, a global market research company headquartered in the United Kingdom.
Meanwhile, Data from CCS Insight’s ‘Augmented and Virtual Reality Device Forecast, 2015-2019’ reveals that the market for mobile augmented reality and virtual reality devices will reach $4 billion by 2018.
Popular global brands like JCPenny, Ikea, Toms (footwear retailer), North Face and Lowe’s are using Samsung and Oculus headsets to transport their consumers into a virtual reality where they can interact with and explore the product on sale, personalizing it to suit their needs, eventually converting the experience into a sale.
5iPads In Stores
While iPads are not an altogether new technology used by retailers; they are around since many years, they have drastically changed how many retailers do business. While some companies have replaced cash registers with these devices, others use it to track employee productivity and merchandise in the store. The portable devices have also evolved as a “powerful selling device” for many.
Ever since Apple began selling the iPads, retailers including Burberry, Puma, Things Remembered, Converse, Nordstrom Inc. among others, have come up with ways to take retail outside the four walls where the customers are.
Take for example the flagship Tokyo store of Kate Spade that deployed iPads to replace printed promotional materials with iPads throughout the store, alongside products and in the process cut down on huge expenses. The store used to receive new shipments every Saturday with brand new products. Previously, new printed promotional materials were needed every week proving to be expensive.
Similarly, Guess gave iPads to their store managers, with amazing results. The iPad app allowed them to see what styles and sizes were selling in Guess stores in different regions. For instance, it got to know that they needed to stock more small sizes in San Francisco stores, where people exercise a lot.
6Magic Mirrors & Smart Fitting Rooms
When considering retail design, fitting rooms are often an after thought, however, experts believe that fitting rooms are the places where people actually convert. So when talking about in-store technology, it makes complete sense to see what retailers are doing in the fitting rooms to enhance customer experience.
The Magic Mirror started as an augmented reality tool for shoppers to virtually “try on” different clothing items in front of a mirror outfitted with sensors, enabling a motion-triggered virtual change of clothing. Product information is fed into the mirror from a linked tablet with which the customer can continue the experience, swiping through color pallets, sharing new looks with friends, and even making a purchase.
Retailers have been experimenting with this technology since 2010, when Macy’s rolled out its smart dressing room. The benefits of Magic Mirror technology range from being a fashion driver to enhancing the fitting-room process. The twin goal is to provide the customer with a fully integrated retail experience while giving the retailer and brand the ability to pull and track data, expand their customer loyalty programs and better monitor inventory.
For instance, Panasonic’s interactive mirror allows the customer to look at herself (or himself) and see how she would look if she changes her makeup and in different lighting, pointing out perceived flaws and making suggestions for helpful products. Similarly, on October 2015, Rebecca Minkoff unveiled its flagship store in Los Angeles that took fitting rooms quite seriously. RFID tags on every item in the store notify the ‘smart fitting room’ of what is coming in. The fitting rooms feature ‘magic mirrors’ that are actually large touch screens. The customer can use the screen to change their lighting settings, for a better idea of how the clothing will look on them in real life. The touchscreen displays different sizes and colors, a customer can then select a different color or size and add it to their online shopping basket.


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November 23, 2009
Though a number of mobile Twitter clients have been able to add their own level of geographical information to tweets, Twitter has now officially added geotagging capability to its API (Application Programming Interface).
It doesn’t change how the web interface works, but given that many mobile users (where geotagging is most useful) will use third-party clients, this isn’t much of a problem. read more
Tags: API, geotagging, location, Twitter
September 2, 2009
At its annual conference, Nokia has announced a new feature that will be added to its Ovi platform next month and showcased on the new N97 mini mobile handset.
Nokia claims that “Lifecasting with Ovi” is the first service that allows users to update their Facebook status directly from the home screen of their cellphone.
Don’t get too excited — this isn’t 24/7 lifecasting allowing you to strap the phone to your head and broadcast everything you’re doing in realtime video. In reality, it’s simply making it easier to update your Facebook status while on the move.
Nokia NSeries’ VP, Jonas Geust, said, “People want to bring their physical and online worlds together via the internet. The Nokia N97 mini is designed for this new social internet and to help navigate people and places. With lifecasting, the Nokia N97 mini and Ovi usher in the next chapter of personal and location-aware internet.” read more
Tags: Facebook, lifecasting, location, Mobile, nokia, ovi
August 11, 2008
We talked about whether or not to show the weather on your blog. Now, it’s time to talk maps in our ongong series on WTF Blog Design Clutter.
Maps have come a long with with the advancements of Google Maps and Yahoo! Maps, especially with the integration of satellite maps and introduction of Google Earth where you can actually see where you are going or want to go. Or where you live. Online maps make the world closer and smaller, and they can make your blog more personal.
Is it important to have a map of where you live or work or play on your blog?
Tags: blog clutter, Blog Design, blog location, clutter, google earth, google maps, location, maps, web design, yahoo maps


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Filipino restaurant brand Jollibee is betting big on the Los Angeles coffee scene, picking up local company Coffee Bean & Tea Leaf yesterday for a cool $350 million. The surprise buy shook Jollibee’s stock value, says Bloomberg, and will add some 1,200 new retail outlets to their already massive holdings.
Even more fried chicken
4Fingers, a casual chicken shop with locations across Australia, Singapore, Malaysia, and Indonesia, is expanding to Los Angeles. The company will open its first US outlet at the One Westside Shopping Center sometime next month.
Melody’s food and comedy night Amuse Bouche is returning on August 6. Expect jokes from folks like Patton Oswalt, with food from chef Tim Hollingsworth, E Stretto, and more.
View this post on Instagram
AUG 6th: WE RETURN FOOD- @cheftimhollingsworth of @otiumla and @netflixfood’s the final table, and sandwiches from the great @estrettosandwichshop COMEDY- @pattonoswalt, @bettermegangailey, @sabrinajalees WINE- natural wines curated by @melodywinebar MUSIC- @djr_rated tix are limited and will sell out, in bio
By the beach
Whitestone Restaurant is now open in Dana Point. The dinnertime spot run by chef Tony Celeste takes over the former Two Left Forks address at 34212 Pacific Coast Highway, working a menu that moves from housemade rye cavatelli to seared wild sockeye salmon and braised beef cheeks.
Los Alamos weekends
There’s a new restaurant and wine stop heading up to busy Los Alamos on the Central Coast. It’s called Cisco Kid, and it will focus on wood-fired meats and vegetables from the Vallefresh crew.
The party is on
Wirtshaus on La Brea is turning eight years young this year, and to celebrate the German beer house is doing big things on Saturday, July 27. Expect a free keg of ceremonial beer, lots of food, and fun games like stein-holding contests all night long.
A legend gone
Stefano Riboli, the founding father of the San Antonio Winery in Los Angeles, has died. To honor him, the Riboli family has put together a small video filled with old photos and interviews from Stefano himself.


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In brief: As regulators continue to probe big tech companies over monopolistic behavior, legislators in the US are already introducing several antitrust bills that would affect how companies like Apple, Google, Amazon, and others operate. One of them would demand that users be given the option to uninstall pre-installed apps.
In the wake of last year's congressional antitrust investigations, lawmakers have proposed a new bill that would force Apple and other smartphone makers to make their default apps removable by the user. For instance, iPhone users would have to have the ability to uninstall Apple's Phone, Clock, Messages, Mail, FaceTime, and other default apps if they choose.
"It would be equally easy to download the other five apps as the Apple one, so they're not using their market dominance to favor their own products and services," Democratic Representative David Cicilline told Bloomberg.
It's worth mentioning that Apple had already made moves to allow the deletion of some of its default apps before Congress even introduced the bill. Notes, Mail, Calendar, Weather, and even FaceTime can be fully uninstalled. Other apps, including Phone, Messages, Clock, Wallet, and Watch, cannot be removed but can be hidden from view.
Additionally, the legislation does not explicitly target Apple or smartphone makers in general. It also prohibits tech companies outside the realm of hardware manufacturing from "self-preferring" products. For instance, Amazon's Prime subscription service would have to be restructured since it "disadvantages some sellers who rely on the e-commerce platform," Cicilline said.
Bloomberg asked Cicilline if Microsoft would fall into the bill's restrictions. However, the lawmaker gave a vague answer saying it would be up to the US Justice Department and Federal Trade Commission to make that determination. There are also a couple of limitations to the bill. For one, it only applies to products and services with more than 50 million monthly active users. Secondly, the owning company must have a market capitalization of $600 billion or more.


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The United States is experiencing a shortage in rubber, sand and people. Rubber is a critical raw material needed for car tires, personal protective equipment such as masks and gloves, and more.
China, the world’s biggest polluter, has committed to reach net zero emissions by 2060, an ambitious goal matched by enormous investments that are reshaping the nation’s energy system.
182 metres tall and decorated with 12,000 uniquely-crafted bronze panels, India’s 50-storey Statue Of Unity is a triumph of aesthetics and engineering.
A spike of unruly passenger incidents prompted some in the aviation industry to request a federal “no-fly” list. But some lawmakers argue that such a list would be unconstitutional.
China is joining the space-tourism industry pioneered by U.S. companies. WSJ compares the vehicles from Blue Origin and CAS Space.
The United States has a lithium supply problem. Lithium-ion batteries are in everything we use in phones, laptops, tablets, cameras and increasingly cars.
New studies offer clues about who may be more susceptible to long Covid, a term for lingering Covid-19 symptoms.
For decades, flying the distance was synonymous with jumbo jets, but today narrow-body aircraft are now proving they are up for the task.
A new breed of airships seeks to take flight and provide a greener solution for both luxury travel and heavy industry.
Car safety was once an afterthought, but now automakers brag about their safety ratings from groups like IIHS or NHTSA’s New Car Assessment Program.
The at-home testing market is bigger than just Covid tests. The emerging marketplace of consumer-initiated lab testing may be worth over $2 billion dollars by 2025.
The Oscars and Emmys are the two oldest entertainment award ceremonies. Making their broadcasting debut to millions of televisions in the 1950s.
When the pandemic hit America’s shores, it crippled car-rental giant Hertz. -from Financial Times
Getting water from upstate reservoirs to the taps of over 8.5 million people in New York City is no easy feat.
The world of mobile app design is changing quickly, and it’s farewell to color, quirks and exotic fonts.
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In a deal that could signal the arrival of a prominent new player in digital
The deal has not closed, but negotiations are in their final stages, according to three people briefed on the deal who were not authorized to speak about it publicly. The price was not known.
If completed, the deal would be a sign both of Beats’ market power and of the tightening competition among digital music companies. In less than four years, Beats, founded by the hip-hop star Dr. Dre and the record mogul Jimmy Iovine, has come to dominate the headphone field. With sleek designs and canny marketing, the company has made a symbol of high-fidelity audio as well as of high fashion.
The headphones, which sell for up to $500 a pair, have spawned a growing field of deluxe, celebrity-branded listening devices. As of last year, Beats Electronics’ annual sales were nearly $500 million.
Beats has also been primed for expansion. Last summer the Taiwanese cellphone company HTC paid $300 million for a majority stake in it. A deal with MOG, whose technology is admired but which has failed to gain much traction in the market, would allow Beats to fulfill a wish Mr. Iovine has expressed in the past: offering a phone-based subscription music service that delivers high-quality audio.
MOG streams music at a rate of 320 kilobits a second, a higher standard than most online services. It also has licenses with record companies and publishers, which sometimes take years for a new company to negotiate.
A deal linking HTC, Beats and MOG “would close the loop in terms of a vertically integrated offering,” said Ross Rubin, an analyst with the NPD Group, a market research firm. “The playback device, the service and the listening device could all be optimized for Beats.”
News of the talks between MOG and Beats was first reported by Business Insider. Representatives for Beats and MOG declined to comment, but on Tuesday HTC issued a statement saying, “Rumors and speculation of an acquisition of MOG by HTC are untrue.” The people briefed on the deal said that Beats, not HTC, was the negotiating party.
MOG was founded in 2005 as a way to connect music blogs, and it still operates an advertising network for blogs that the company says produces half of its revenue. In 2009 it introduced a subscription streaming service for $5 to $10 a month.
Last fall, to take advantage of a new media platform on
The online streaming market has become crowded and competitive in recent years, with players like Rhapsody, Spotify and Rdio, and analysts have long been predicting that some consolidation was inevitable. Late last
year Rhapsody bought Napster, a rival service, from
“The market today is just not large enough to sustain all the players as independent entities,” Mr. Rubin said.
Spotify, which is available in 13 countries, announced in January that it had three million paying subscribers. And at the


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Resorts World Cruises will offer a Kuala Lumpur homeport for its 3,352-pax Genting Dream from July 18, enabling guests to soon embark at either Singapore or the Malaysian capital’s Port Klang.
With the dual homeport options, the new cruise line will offer two-night cruises from Kuala Lumpur to Singapore every Thursday and Saturday, and three-night cruises from Kuala Lumpur to Penang and Singapore every Monday.
Departure days from Singapore will remain the same on Wednesday, Friday and Sunday. From July 22, Genting Dream‘s Friday sailings will reintroduce two-night High Seas Weekend Getaway cruises.
Resorts World Cruises said the dual homeport will allow it to better meet the strong demand for round-trip cruises emerging from the 10-million-strong Peninsular Malaysia market.
Furthermore, with Kuala Lumpur International Airport also located nearby, Resorts World Cruises can tap the fly-cruise international market.
One-way cruises that will serve as an alternative to air and land travel for travellers between Singapore and Kuala Lumpur, including to Penang, are on the cards. With this product, travel agents will have a wider portfolio to offer for their popular Malaysia and Singapore holiday programmes.
Michael Goh, president of Resorts World Cruises, said in a press statement that Genting Dream‘s OIC/SMIIC Standard Halal certification – the first cruise ship in the world to attain this – will put it in good stead to serve “a significant segment of Malaysian and international travellers across the region”.


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CHAPEL HILL – Seal the Seasons, which touts itself as the “farmer’s market in your freezer,” is well on its way to raising $300,000 from investors.
According to a securities filing this week, the company has raised $160,000 from four investors.
The capital comes in the form of debt.
To date, Seal the Seasons has gone the debt route to land funding, having secured $735,000 last year and more than $1 million since launch.
The company also won $10,000 after landing a $10,000 cash prize after participating in a Burt’s Bees startup event.
Seal the Seasons won the Natural Products Launchpad Prize from Burt’s Bees as well as a berth in the second cohort of startups selected for the accelerator program, which includes mentorship support.
Seal the Seasons partners with family-farms to freeze the best produce in season and sells these healthy fruits and vegetables to grocery stores every season of the year.
It now works with hundreds of stores.
Customers include Harris Teeter, Whole Foods, Ingles and Sprouts.


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Unicorns are everywhere these days. Just not around Seattle.
Even as the stock market tanks, private money continues to flow to these new giants of technology with names like Palantir, Cloudera and Nutanix which have shunned the public markets in favor of big-time valuations from venture capitalists. According to an analysis by CB Insights reported by The New York Times, there are now 131 private companies valued at $1 billion or more. In total, the companies have a combined valuation of $485 billion — which is far less than the $649 billion value affixed to Apple.
They are dubbed unicorns because companies of that size are rarely seen, but now with 131 on the list some have quipped that these uncommon creatures of the corporate world should just be called horses.
The list is led by Uber, the transportation giant that is valued at a whopping $51 billion. Others in the top 10 include Airbnb ($25.5 billion valuation); Snapchat ($16 billion valuation); and Pinterest ($11 billion valuation).
Interestingly, no companies that call Seattle home are listed in the group of 131, though there are deep connections everywhere. For example, San Francisco-based DocuSign, founded in Seattle and with the bulk of its workforce here, makes the list with a $3 billion valuation. Seattle-based OfferUp, a press-shy competitor to Craigslist which raised a big round of financing from Andreessen Horowitz earlier this year, is reported to have a valuation that tops $1 billion. It is not on the CB Insights list.
We’ve also seen a number of the companies on the list — Dropbox, Qualtrics, Nutanix, SpaceX — set up engineering centers in the Seattle area. (Largely to mine talent from companies like Amazon and Microsoft).
That’s the current situation now. But how do things look in terms of the next crop of unicorns, those on the cusp of reaching the $1 billion valuation mark?
At least in Seattle, these mythical creatures are still elusive.
According to a list of 50 up-and-comers compiled by CB Insights on behalf of The New York Times, no companies hail from Seattle. The closest candidate is Cyanogen, the mobile software startup which was started in Seattle and maintains a large presence here, but is technically headquartered in Palo Alto.
In fact, the research shows that half of the would-be unicorns are based in San Francisco/Silicon Valley.
Why hasn’t Seattle — home to huge tech brands like Expedia, Microsoft, Amazon, T-Mobile and Valve (a possible unicorn that often gets overlooked because it has grown without outside funding) — spawned more unicorns?
It is a a discussion we have kicked around on GeekWire many times in the past. And there are multiple reasons: The big companies suck the oxygen out of the startup ecosystem. The venture capital infrastructure is not here to support companies of this ilk. The entrepreneurs in Seattle don’t dream big enough, or swing for home runs.
Whatever the reasons, Seattle is at risk of losing its status as an epicenter for startup innovation if a few unicorns don’t emerge from the shadows. Even if predictions of “dead unicorns” come to pass, you need an entrepreneurial ecosystem that’s cultivating and supporting some of these world-changing companies.
After all, before the term unicorn came into existence, there were companies like Microsoft, Amazon, Zillow, Tableau, F5 Networks, Isilon and others that got started in Seattle.
Previously on GeekWire: Unicorn envy: Where is Seattle’s next billion-dollar idea?


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After the recent breach of LinkedIn, Adobe and Ashley Madison accounts became public, it was evident that a lot was left unsaid. According to latest reports, 4 years after a June 2012 hack, 6.5 million user accounts were stolen by cybercriminals in Russia.
To make matters worse, it was discovered in May that an additional 100 million LinkedIn email databases and hashed passwords were available online. As corrective action, LinkedIn invalidated those account passwords. This prompted LinkedIn to alert its 400 million users to stay alert and maintain reasonable passwords.
Australian security expert Troy Hunt has now created a website that helps you find out if your account has been compromised. The website called HaveIBeenPwned cross checks with over 500 million accounts from over 106 compromised websites that have been reported. To our surprise we discovered our email addresses appeared in the Adobe breach in 2013 and LinkedIn in 2016.
Headover to haveibeenpwned.com, enter your email address and hit the pwned? button. After cross checking your email address from millions identified, the website will tell you the specific accounts that have been identified as being breached. Head over and reset your password as a corrective measure.


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U.S., India agree to expand small-biz opportunities
- By David Hubler
- Feb 12, 2007
A new agreement between the Small Business Administration and India holds the potential for more technology exchanges and government contracting opportunities.
SBA and India’s Ministry of Small Scale Industry said they intend to increase cooperation and identify opportunities for strategic alliances between U.S. small businesses and Indian enterprises.
In a letter of intent that the two countries signed, they pledged to exchange technical expertise and experience in small-business development strategies. They will also share information on programs and services, accessing capital, technical assistance, research and development of technology, and government contracting.
SBA said it will work with the Indian ministry to identify investment opportunities for U.S. small businesses in India, promote strategic alliances and cooperation between small and medium businesses in both countries and help create more jobs.
The letter of intent was signed last week at the American Chamber of Commerce international summit in New Delhi by Jawhar Sirca, additional secretary and development commissioner of the Ministry of Small Scale Industry, and Manuel Rosales, SBA’s associate administrator for international trade.
According to the Commerce Department, United States/India trade reached an all-time high of $26 billion in 2005, with about $8 billion in U.S. exports.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.


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The new price tariffs could cut the cost of access to the web by 20 per cent. They follow an explosive growth in BT's Internet revenues and increased pressure on the company from Oftel to reduce its charges.
BT announced that from next spring, consumers and small businesses will be able to gain unlimited Internet access by paying a single fixed charge each month.
Oftel meanwhile said that Internet access would be possible for less than the price of a local call as early as next month under a new charging arrangement whereby the cost of a telephone call is split in two.
The new package from BT, known as BT SurfTime, offers a range of fixed monthly fees in place of the current tariffs where users pay local call charges to connect up. The options vary from unlimited free access at the weekends or evenings for pounds 6.99 a month to a tariff offering free access at anytime for pounds 34.99 a month. The average household, dialling up the Internet for 15 hours a month would save pounds 2 in call charges while heavy users would save a good deal more.
However, there is a sting in the tail because free Internet Service Providers may have to start levying a subscription charge on users to connect up under the new BT tariffs.
At present, free ISPs such as Freeserve, which operates in partnership with Energis, make their money through advertising and taking a share of the local call revenues. But under the new BT arrangements, they would not receive any call income.
David Edmonds, the director general of Oftel, welcomed BT's announcement, saying that customers would be able to connect up at more competitive rates. Oftel has been investigating BT's charges since September following complaints that they were excessive and discriminatory. BT's Internet and data revenues are doubling each year and now account for about 25 per cent of all its local call revenues.
Angus Porter, BT's director of marketing, said that the new Internet tariff structure would encourage more people to get online by capping their call charges. BT will continue to offer a pay-as-you-go option to those who used the Internet rarely. Mr Porter also said they new tariffs did not discriminate against those customers who used the telephone less often and then only to make voice calls. They would continue to be charged a lower fixed rental while paying for the calls they made.
Oftel's "two-part charging" proposals would split the cost of a call into two separate components - an initial charge for setting up the call and another charge for maintaining the connection during the call. Mr Edmonds said this would enable ISPs to chose what the pence per call rate should be for their customers.
To facilitate the changeover, Oftel is introducing an 0844 code for Internet access, charged at local call rates, and an 0808 code for free and unmetered Internet access.
Outlook, page 19


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Pinterest has finally launched a Windows Phone app. But like many Windows Phone apps, there’s a catch: It’s only a beta version
This means that while Windows Phone pinners get all the basics of Pinterest, the app is not nearly as full-featured as its iOS and Android counterparts.
At this point, the app basically provides an easy shortcut to the mobile-web version of Pinterest, with a few native features thrown in, a Pinterest spokesperson told Mashable
So while users can follow friends, pin new posts and take advantage of most Pinterest.com features, they won’t have many of the tools that the iOS and Android apps include, such as a notifications menu and guided search, which rolled out to Pinterest’s web users on Wednesday. Read more…
Pinterest users will soon see a new search bar when they visit Pinterest.com, and just as it works on mobile, the search features will surface recommended keywords intended to help generate more specific queries and better search results.
For example, searching for “BBQ” on Pinterest might surface other keywords like “wings,” “recipes,” or “chicken.” The keywords serve as filters, and the goal is to help users find exactly what they’re looking for. Read more…
In April, Pinterest introduced a new way to narrow down what you’re looking for on mobile with the addition of a feature called “Guided Search,” which pops up related terms at the top of the screen after you enter in a keyword to start a search. Today, Guided Search is making its way to the web, with a few improvements in store as well. Read More
Pinterest is pinning its vision for the future on a couple of Apple employees with ecommerce backgrounds
The social bookmarking service announced Tuesday that it has hired Bob Baxley, a longtime design director at Apple, and Michael Lopp, who worked at Apple for nine years before moving on to Palantir Technologies in 2010. Baxley will take over as Pinterest’s head of product design and Lopp will be the company’s head of engineering
Baxley joined Apple in 2006 from Yahoo and helped spearhead the effort to bring Apple’s online store up to modern web standards and later led the design of the Apple Store app. While at Apple, Lopp led part of the engineering team that worked on the Mac OS X Server, before leading engineering efforts for the online store. Read more…
Social pinboarding site Pinterest today announced that it has picked up two notable new hires, both longtime Apple alums, to head up its Engineering and Design departments. All that funding is not going to waste, it seems. Michael Lopp, who was previously a director of engineering at Palantir, will head Engineering; Bob Baxley, the former Director of Design for the Apple Online Store, will… Read More
Republican Congressman Dana Rohrabacher (R-Calif.) had one of the most unfortunate Twitter and Pinterest hacks in recent memory, where pictures of young women in bikini’s (and in some cases lingerie) encouraging weight loss flooded his social media accounts
Most of the tweets and Pinterest posts were deleted, but that didn’t stop us from catching the trend… yikes.
Have something to add to this story? Share it in the comments. Read more…
Pinterest is exploring new ways to make money from the huge audience that it’s amassed over the last few years. That includes new “Promoted Pins” from large national brands, but now it will also include paid placement for small and medium-sized businesses as well, with a new self-serve product it’s announcing today. Read More
Ever since there were shops, people have enjoyed window shopping. But a new phenomenon is emerging that takes the habit to the extreme.
If you save things to your Amazon wishlist without ever actually buying them, browse gadgets, clothes and offers online as a pastime or fill your shopping cart without going through with the payment, you may be a fauxsumer.
This “false consumerism”, particularly prevalent among millenials, is the process of discovering products online without purchasing anything. Shopping without having the goal of actually buying.
The rise of fauxsumerism was revealed in a recent study of 1,300 14-to-34-year olds in the US. These millenials, born between 1980 and 2000 are browsers rather than buyers. The report found they create wishlists, both to engage with brands and for fun, with no intention of actually buying. Sometimes they don’t have the money to make the purchase but save the item anyway. There is even the suggestion that these fauxsumers get the same kick out of saving an item as they would if they had bought it. Read more…
Ecwid, an e-commerce platform originally founded in Russia that lets merchants create online stores on social networks like Facebook, their own websites and on mobile, is today announcing a $5 million round of funding. The Series B investment was led by Russian VC iTech Capital, with participation also from Runa Capital, which led its last round.
Jim O’Hara, Ecwid’s US-based… Read More
Think Pinterest is just for sharing photos of cute knitted sweaters? Wrong, the popular thingie-sharing network can help you prepare for the apocalypse. In today’s installment of Mashable Minute, Elliott Morgan wades through the weird world of doomsday Pinteresting
In the last episode, Elliott shares the ultimate guide to the best summer ever. EVER.


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Posted: Feb 6, 2013 6:56 AM
WASHINGTON (AP) - The financially struggling U.S. Postal Service says it plans to stop delivering mail on Saturdays, but continue delivering packages six days a week.
In an announcement scheduled for later Wednesday, the service is expected to say the cut, beginning in August, would mean a cost saving of about $2 billion annually.
The move accentuates one of the agency's strong points - package delivery has increased by 14 percent since 2010. The delivery of letters and other mail has declined with the increasing use of email and other Internet use.
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Holiday money giant Travelex is launching a £25 million fund to invest in start-ups and going on a recruiting drive in London’s Tech City, in a bid to stop a new wave of financial technology start-ups eating its lunch.
Travelex’s new ‘Digital Growth Fund’ will make small ‘seed’ investments below £1 million in early stage financial technology companies.
The fund will also be used for potential acquisitions, although Travelex’s chief digital officer Sean Cornwell said an investment was no guarantee of being acquired and the company was not currently looking at any deals.
The fund is the brainchild of Cornwell, Travelex’s first chief digital officer and a former Google executive. Its launch comes as a wave of new financial technology, or ‘FinTech’, companies are challenging the traditionally dominant finance services players.
London-based international money transfer business TransferWise is reportedly looking at a fresh funding round that will value the company at as much as $1bn and the three-year old Richard Branson-backed business has already transferred over £1bn over its platform.
Cornwell denied that Travelex, the world’s largest foreign exchange specialist, was under pressure from new start-ups such as this, saying: “We don’t feel we’re being disrupted. Our business is strong and healthy. This is about taking advantage of amazing opportunities.
“We could have a long philosophical debate about whether in 10 or 20 year’s time cash will be on the way out – again, how long will credit cards last - but what is sure is new ways for consumers to interact with these core services will emerge. We want to take advantage of those opportunities.”
Cornwell highlighted mobile payments, e-wallets and cryptocurrencies such as Bitcoin as potential areas of interest for the company.
He added that Travelex was not simply creating a new venture capital fund, saying: “For us a lot of it is about learning and staying closer to this innovation that’s taking place.”
As well as earmarking funds for investments and acquisitions, the company plans to go on a hiring spree in London to recruit up to 100 new employees with tech expertise.
Travelex will have a stall at this year’s Silicon Milkroundabout, a jobs fair for technology start-ups held in Brick Lane.
Travelex is not alone in seeking to tap into the new wave of technological innovation in financial services. Both Santander and Barclays also have initiatives investing and supporting start-ups in a bid to keep pace with changes.Reuse content


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Mobile banking is on the rise as consumers increasingly rely on their smartphones to get things done. In fact, statistics from JP Morgan show that the company’s mobile user base grew by 17 percent year-over-year in the third quarter of 2016, with more than 75 percent of the firm’s new accounts opened in digital channels during the quarter.
Bank of America research indicates that 54 percent of U.S. adult consumers who own a smartphone use a mobile banking app, with 35 percent of mobile bankers accessing the app at least once a day, and 84 percent at least once a week. And Javelin research estimates that 81 percent of U.S. adults will be mobile bankers by 2020.
While most credit unions recognize the pivotal role mobile platforms will play in their future growth and success, designing and deploying the right solution can be a complex undertaking.continue reading »