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EROAD HALF YEAR 2018 ANNOUNCEMENT AND UPDATE
Integrated technology, and services provider EROAD Limited says it has enjoyed record sales growth in both its foundation New Zealand market and its growing North American market.
Highlights for 6 months to September 2017 and business update
- Revenue at $20.9 million up by 35% over same period last year
- EBITDA of $4.0 million during the period underpinned by EBITDA of the New Zealand/Australia business which reached $11.1 million during the period
- Net Loss before tax $3.7 million, driven by investment in US sales activity
- Total Contracted Units in New Zealand/Australia 49,802 up by 31% since September 2016
- Total Contracted Units in North America 9,736 up by over 84% since September 2016
- Q1 and Q2 of FY18 were both record sales quarters for the New Zealand and North American markets
- Customer Retention Rate remains strong at 98%
- Future Contracted Income grew to $75 million during the period up $17m or 29% in 6 months
- Secured new credit facility from the BNZ totaling $33.4 million for initial term of 12 months with initial drawdown in July 2017. Post September 2017, EROAD has subsequently signed a credit approved facility letter with the BNZ to further extend its facilities by approximately $16 million, to further support expected growth
- Strong momentum has continued in the business with total contracted units increasing in October 2017 by 1,133 units for the New Zealand/Australia business and 1,166 units for the North American business
- As part of EROAD’s continuing focus on growth in the US, EROAD has engaged First NZ Capital to undertake a strategic review of its North American business. The review is focused on evaluating options to further capture the compelling growth opportunity in North America.
Half-year to 28 September 2017
EROAD Limited (EROAD) (NZX:ERD) reports record unit and revenue growth which delivered strong net profit in the New Zealand & Australia business to support both head office costs and losses in the North American business, as EROAD pursued revenue growth in line with its strategy and business plans for North America.
Chairman of the Board Michael Bushby said the investment made in strategy and business planning for the US business had begun to show returns with the US business selling 3,634 units in the six months to September 2017 compared with 801 units for the preceding 6 months.
“The US business invested in sales capability in line with our business plan which saw the US business grow total contracted units by 81% and incur a net loss of $3.1 million,” Mr Bushby said.
“While our investment in sales capability and a more targeted strategy is generating positive results, we continue to focus on growing the total contracted units to achieve scale and move towards breakeven and profitability for the US business,” he said.
“It is important to acknowledge the EROAD team for what have been significant achievements in the six months, particularly as it has been a challenging time for them, with a restructure of the business, and saying farewell to a number of good people who had helped us on our journey so far.”
New Zealand & Australia
EROAD’s New Zealand business enjoyed two record sales quarters during the six months to September 2017, and finished the period with a strong pipeline of demand for the second half of FY18.
Chief Executive Steven Newman said health and safety services, such as driver behaviour, are now as strong a driver of sales as electronic Road User Charges (eRUC) services, which continue to grow well. The company continues to engage with an ever more diverse range of large and small customers as fleet owners and managers begin to appreciate the positive business outcomes that can be achieved by ensuring safety within their businesses.
Mr Newman said, “Our customers are improving health and safety thanks to services that support safer driver behaviour. And road planners and policy makers now have high quality network data from the activity of around 50,000 vehicles on our platform. Road transport accounts for around 15% of fuel used in New Zealand, and our customers are achieving, on average, fuel savings of around six per cent, representing a significant cost saving and carbon saving to the economy.”
Mr Newman said he was particularly pleased that two of New Zealand’s leading companies, Fulton Hogan and Waste Management, had invested in new, sophisticated EROAD in-vehicle technology, with ~4,500 Ehubo2 units being installed in their transport fleets to further improve their management of health and safety.
In New Zealand around half of all heavy transport Road User Charges (RUC) is now paid and collected electronically. This 50% market conversion, since EROAD launched the world’s first GPS-based road user charging system in New Zealand in 2009, represents a rapid eCommerce adoption by our road transport sector. EROAD collects 80% of the electronic RUC in New Zealand and has now collected more than $1.7 Billion since launch.
“The profitable, cash-generating performance of our New Zealand business continues to provide the platform for our investment in North America.
As the ELD (electronic logging device) deadline nears and EROAD benefits from the preceding investment in sales, first half growth in North American sales were at their highest since EROAD entered the market in 2014. 3,634 units were added in the six months, more than double the total number added in the last full financial year to March 2017 (1,601).
During the six months, legal appeals against the ELD mandate were thrown out, and a last-ditch attempt to have Congress halt implementation of the mandate was dismissed. Fleets that must meet the December 2017 deadline are urgently seeking a solution, and tend to be price rather than value focused.
Fleets whose vehicles already have an automatic on-board recording device (AOBRD) have two years’ grace (18 December 2019), and these operators are looking for more robust and value-oriented solutions, and are likely to consider a solution when their existing technology leases come up for renewal, Mr Newman said.
“EROAD remains very focused on US tax compliance and health and safety products, and in particular the ELD market for the next two years and beyond,” he said.
“Our US business plan implemented last year sought to expand EROAD’s reach beyond the Northwest states where EROAD had been concentrating. I am pleased to report that 20%, or 2,000, units out of our total units in the US are now outside the Northwest - from Florida to Illinois.”
Mr Newman said EROAD remained focused to lifting sales and therefore the scale of the US business to create a high-growth, self-sustaining business to match its New Zealand operation in performance.
As part of this focus on growth in the US, EROAD has engaged First NZ Capital to undertake a strategic review of its North American business. The review is focused on evaluating options to further capture the compelling growth opportunity in North America. We will be looking for potential partnership, joint venture and other opportunities that can help us expand our distribution footprint in the US.
Outlook for full year to March 2018
EROAD will continue to focus on growing its New Zealand business to meet the needs of an ever more diverse group of customers, as well as growing its North American business to take advantage of the ELD opportunity and build the scale for EROAD as a whole to move toward breakeven in the 2019 financial year.
Growth in the New Zealand business is expected to remain very strong given the known pipeline the EROAD team is working on. The company also expects growth to continue in North America given the need of many customers to become ELD compliant. It is expected that price will be a key driver in the US as late adopters focus more on meeting the ELD deadline than the extra value that can be extracted from new telematic services. Mr Newman said the company expects value will become more important in 2018 when businesses with existing hardware come up for renewal at the end of their current leases, and look to renew with an ELD compliant solution.
EROAD will continue to invest in improved back office and customer support systems to maintain growth and to work with customers to bring new analytics and improved services to market.
EROAD put in place a new credit facility with the BNZ for an initial term of 12 months in July. EROAD has now subsequently signed a credit approved facility letter with the BNZ, to further extend this facility. Under this extension, the growth facility increases by approximately $14 million and the overdraft facility increases to $5 million from $3 million. In addition, the term increases through to 1 April 2019.
The new debt facilities will be used to provide for the funding needs of expected growth and to support the financing of new units leased to customers in New Zealand, Australia and the United States, which will be drawn down in accordance with the execution of new rental contracts.
Consistent with its dividend policy, EROAD does not intend to pay an interim dividend for the year 31 March 2018.
October 2017 Total Contracted Units
EROAD is pleased to announce that the strong momentum in the business experienced over the six months to September 2017 has continued in October 2017. Total contracted units increased by 1,133 units for the New Zealand/Australia business and 1,166 units for the North American business.
Attached to this release are the unaudited financial statements, for the six months ended 30 September 2017 and the comparative financial information for the six months ended 30 September 2016. These financial statements have been prepared under the New Zealand equivalents to International Financial Reporting Standards and reviewed by KPMG.
EROAD modernises road charging and tax compliance and health and safety compliance for road transport by replacing paper-based systems with easy-to-use electronic systems that also improve fleet management. The company is headquartered in Auckland, New Zealand, and listed on the New Zealand Exchange (NZX). Its US business is based in Portland, Oregon, serving customers with vehicles operating in every US mainland state, growing outward in concentration from the Northwest. In 2009 EROAD introduced the world’s first nationwide electronic road user charging (eRUC) system in New Zealand. Currently half of all heavy transport RUC is collected electronically, representing a rapid transition to e-commerce on a voluntary, industry-led basis, due to the cost-savings and benefits to customers. EROAD is also a leading provider of health and safety compliance services, including vehicle management and driver behaviour and performance measures.
For more information please visit www.eroad.com.
For a detailed description of EROAD’s business, and terms including Total Contracted Units, Future Contracted Income and Retention Rate, which are non GAAP measures used by EROAD to manage the business, please refer to the Appendix of the November 2017 Half Year Presentation.
Contact: Steven Newman CEO on +64 9 9274713.
Summary financial statements


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v3rgEz writes: The days of anonymous commenting on The Huffington Post are numbered. Founder Arianna Huffington said in a question-and-answer session with reporters in Boston Wednesday that the online news site plans to require users to comment on stories under their real names, beginning next month.
Attend or create a Slashdot 20th anniversary party! DEAL: For $25 - Add A Second Phone Number To Your Smartphone for life! Use promo code SLASHDOT25. Check out the new SourceForge HTML5 Internet speed test. ×

domain: news


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Electronic readers aren't all that exciting. They're rectangular, their screens are black and white, and they can't do much more than display text.
So how do you liven things up? For starters, Amazon and Barnes & Noble added lighting systems to their newest readers, the Kindle Paperwhite and the Nook Simple Touch, to make it easier for people to read in the dark.
In Amazon's Kindle Paperwhite, four LEDs mounted on the bottom of the reader shoot light toward the surface of the display. Barnes & Noble's lighting, called GlowLight, has a similar system with LEDs. Both of these glowing e-book readers cost $120.
But will adding some lights be enough to prevent e-book readers from becoming an endangered species? International Data Corp., a research firm, said shipments of tablets, smartphones and PCs grew
27.1 percent from last year. However, e-book readers are losing momentum. In the United States, manufacturers sold 9 million e-book readers this year, down from 15.5 million last year, according to Forrester Research.
So why would anyone still want a reader? Readers are still much cheaper than tablets in general; the cheapest Kindle costs $70, while the cheapest Kindle Fire tablet costs $160. And if all you want to do is read books, a dedicated reader is still the best device for the job, said Sarah Rotman Epps, a Forrester analyst.
- Heisler: From Shaq to Lonzo Ball, Lakers' glorious past to questions about future
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- 8,000-mile ride in a prison van left this man bleeding, sleep-deprived and near death
- Man dies after being struck by a cargo van towing go-carts in Costa Mesa
- Have you seen her? Fullerton police searching for package theft suspect


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PITTSBURG — Something sweet is coming to downtown Pittsburg, thanks to a family with a love for sugar.
Janie Rush-Williams, her son, Michael Williams, and her daughter, Courtney Williams, have spent the last four months redesigning 709 N. Broadway into Sugar Rush “Sweet Treats.” The family is hoping to open the ice cream and candy shop January 6.
Janie Rush-Williams said she’d had the idea for seven or eight years, but when her grandfather died and left her some money, she decided to go for it. Pittsburg seemed like the perfect place.
“When my grandpa passed away, he left me a little money so we decided to go for it,” she said. “Especially with the revitalization starting downtown with the shops that are here and Block 22 going in.”
Michael Williams agreed that Pittsburg was the right fit.
“The older residents here in Pittsburg really support and enjoy the ‘mom and pop’ style stores,” he said. “But so do younger people in our generation. With the college here and such a great downtown, we see Pittsburg as growing and want to be a part of that.”
Michael Williams will serve as general manager of Sugar Rush. He is currently studying small business management at Pittsburg State University. Both he and his sister, Courtney Williams, attended PSU.
Janie Rush-Williams said her grandfather not only helped make the candy and ice cream shop a reality, but was the inspiration for it.
“My grandma and grandpa always had a sweet tooth,” she said. “It was always a treat to get to go get sweets with them or go to the drugstore to get ice cream.”
Michael Williams said they are also hoping to bring some variety to Pittsburg.
“We wanted to give people a more local option for ice cream than something like Braum’s,” he said. “Braum’s has great ice cream, but it’s nice to have a local, unique place to go.”
The family had hoped to open before the end of the year, but during renovations Janie Rush-Williams had to have surgery following an accident where she broke her back. Now they are nearly finished and plan to be open for business January 6.
— Chance Hoener is a staff writer for the Morning Sun. He can be emailed at email@example.com or follow him on Twitter @ReporterChance.


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Starz has premiered a standalone streaming app that gives fans access to all of the network's hit shows without the need of Wi-Fi or a cable subscription.
For $8.99 per month, subscribers will have access to Starz original series, as well as a wide selection of films, including Star Wars: The Force Awakens. In addition to streaming capabilities, the Starz app will include virtually unlimited downloads for users, allowing them the option to stream without Wi-Fi access.
To celebrate the app's launch Outlander's second season premiere will be made available on the app and Starz.com on Thursday, two full days before its official premiere on Saturday (9/8c, Starz).
The Starz app is available for iPhone, iPad, iPod touch, Apple TV and Android. Current Starz subscribers can authenticate the Starz app within the app itself or on their computer.
Will you subscribe to the Starz app?


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The Missouri Highway Patrol mistakenly sent out a stateside alert to all citizens’ cellphones noting a manhunt for, eh, the Joker?
In celebration of the upcoming cinematic experience created by director Matt Reeves, the new “The Batman” lifestyle merchandise collection allows fans to channel Batman/Bruce Wayne and Catwoman/Selina Kyle like never before.
During the recent DC Fandome, Milestone unveiled exciting new DC content, both free and premium, coming soon to Hot Wheels Unleashed.
“The Batman” director Matt Reeves is developing a spin-off series about the Penguin (aka Oswald Cobblepot).
Festivities To Also Include New Batman Bat-Tech App Missions, Global Batman TV Specials, Exclusive Product Releases, High-Profile Collaborations Including FaZe Clan™, and More!
On October 12, 2021, Batman fans get a new and different look at Gotham’s guardian as he begins his war on crime in Batman: The Imposter, a three-issue Prestige format series from DC.
A quarter century has passed since the release of the Eisner Award winning Batman: The Long Halloween from the creative team of writer Jeph Loeb and artist Tim Sale. On October 12, 2021, Loeb and Sale return to continue their story and show that some secrets never stay buried in Batman: The Long Halloween Special.
The 1950’s were the heyday of McCarthyism and like many other forms of entertainment, comic books came to be viewed as a threat. The industry’s reaction to the threat would kick off an entirely new era – the Silver Age of Comics.
Shown below are new official promotional images for the upcoming 7″ DC Multiverse wave which will include Death Metal Batman, The Drowned, Red Sun Superman and Damien Robin.
Batman No. 27, published in 1939, is notable for its first appearance of Batman. A “fine/very fine 7.0” graded copy of the issue has sold for $1.5 million in another auction from Heritage Auctions.


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Mantle, San Francisco, California, USA, has announced that it has been awarded the SME Additive Manufacturing Start-Up Technology Award for its metal Additive Manufacturing technology. The AM Start-Up Technology Award recognises businesses with unique technologies that solve existing manufacturing problems with an individual technical approach.
Mantle was selected as the winner of the award for its TrueShape Additive Manufacturing technology, which works to reduce the cost and lead times when producing precision tooling while allowing for better tool designs and also solving skilled labour shortages.
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SME selected Mantle based on the following criteria:
- Technical feasibility: the technology has been demonstrated and is feasibly sound
- Uniqueness: the technology solves an existing problem with a unique approach
- Market potential: the technology serves a large market and can make a meaningful impact
- Messaging and communication: the company has a clear value proposition and messaging
“We are extremely pleased to be selected by SME as the 2023 AM Start-Up Technology Award winner,” stated Ted Sorom, CEO and co-founder, Mantle. “Since its public launch, Mantle has proven significant value for our customers by automating the process of making precision tools. Through multiple case studies, manufacturers of all sizes have experienced the ROI gains that Mantle’s 3D printing technology delivers by slashing the time and money needed to manufacture precision moulds compared to traditional toolmaking processes.”


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NVIDIA's Tegra 2 Take Two: More Architectural Details and Design Winsby Anand Lal Shimpi on January 5, 2011 2:51 PM EST
Twelve months ago NVIDIA stood on stage at CES and introduced its Tegra 2 SoC. It promised dozens of design wins and smartphones shipping before Spring 2010. That obviously did not happen.
What instead happened was NVIDIA lost a number of design wins, many of which we centered around mobile OSes other than Android. There were a number of Windows Mobile/Windows CE based designs that never made it to market, and a lot of efforts around earlier versions of Android that never went anywhere.
In the time since NVIDIA’s CES 2010 announcement, the company has shifted resources and focused its entire Tegra team on a single OS: Android. Choosing Android isn’t a hard decision to understand, of all of the available smartphone OS options it has the most momentum behind it.
NVIDIA views the smartphone space like a condensed evolution of what happened in the PC industry. In fact, NVIDIA believes that within the next decade, mainstream PCs will actually be smartphones. You’ll simply connect your smartphone to a wireless display and keyboard/mouse when you’re at your desk, and just take it with you when you’re on the move. This usage model won’t replace high end PCs, but for anything you’d find in the mainstream market it should be sufficient.
Motorola’s recently announced ATRIX 4G and webtop dock is the perfect example of this type of a usage model, although it is a very early precursor to what NVIDIA believes is the future of mainstream computing.
NVIDIA thus expects the smartphone market to evolve very similarly to how the desktop PC market evolved - including being driven by gaming. The Tegra 2 SoC is NVIDIA’s first honest attempt at addressing this market and with today’s announcements from LG and Motorola, NVIDIA is actually gaining some traction.


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Indian fintech N2Jsoft raises 24 million euros in funds – Le Journal des Entreprises
The Indian company N2JSoft (90 employees; CA: NC), specializing in the management of expense reports, has just raised 24 million euros from the American fund PSG Equity (14 billion dollars in assets, including 4 billion in Europe). A feat in a context where access to the venture capital market has become more difficult even for promising young tech companies! According to the In Extenso – Essec Business School barometer, it would be in 3rd position among the biggest AURA fundraisers in the 1st quarter of 2023, just behind Atawey (€25 million) and Amolyt Pharma (€130 million). Free, Babolat and Cultura already use its N2F solution to manage their employees’ expense reports. According to its promoters, it would make it possible to divide the processing time by four, in particular thanks to an ultra-fast intelligent scan. Created in 2015, the fintech based in Montagnat (Ain) wants to impose itself on the European market for the simplification of the management of expense reports by multiplying by 10 the number of its customers, to reach 100,000 customers representing 100 million turnover. annual recurring business. To realize its projects, N2JSoft plans to recruit around 200 people by 2028, including R&D profiles to continue its diversification in the niche of simplifying all time-consuming business processes (management of leave and professional interviews).


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From late October, Council invited people to drop off unwanted toys to recycling centres and leisure centres before being given a new home at the festive season.
The initiative was in partnership with Habitat for Humanity, East Belfast Mission (Restore) and community groups
The Christmas Toy Container pilot began in 2019 when residents donated a total of one tonne of items. The following year saw 1.5 tonnes donated and 2.3 tonnes in 2021. However, 2022 has been unprecedented, reaching double the previous year’s figure with 5.2 tonnes being donated.
The charities have seen the toys flying off the shelves, generating funds for them and providing lower cost toys for families.
In addition to this, council worked with Larne Community Care Centre and Carrick Community Forum who gifted the toys to families, helping to spread a little cheer at this time of year.
A new element was pop ups shops in Carrickfergus and Larne town centres in early December. Habitat’s ‘Restore’ shop in Ballymena also provided the opportunity to purchase a bargain.
The Mayor, Alderman Noel Williams, said: “We are delighted that through this scheme, a vast quantity of perfectly good toys were re-used rather than being thrown away. We are supporting the waste hierarchy which promotes prevention of waste and re-using, where possible.
“I visited the Larne pop up shop in early December and was amazed at the range and quality of toys on offer, and how the local community have really got behind the project. At this time of year, we know families can struggle with Christmas, and this year has been an even more challenging one with the increased cost in living.”
He added: “I’m very much heartened by the volume of toys donated this year which demonstrates our residents generosity and by knowing that we have helped to bring a smile to our young ones on Christmas morning. Well done to everyone involved in making this our most successful year yet.”
A spokesperson for Habitat for Humanity said: “We are delighted to be part of the Christmas Toy Container at a time of year which can be so challenging for families on low incomes. We’ve been very excited at being able to offer families the opportunity to get good, quality toys at low cost.”
A spokesperson for East Belfast Mission commented: “Larne Restore have been delighted to be part of this great partnership at a time when we should all be thinking of others.”
Over 8.5 million toys are thrown away each year in the UK which adds to the landfill tonnage. Mid and East Antrim Borough Council is helping to reduce this tonnage by building on the success of this toy donation scheme each year.


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Posted 11:07am Sunday 23rd July 2017 by Zahra Shahtahmasebi
Two large supermarket chains in Australia, Woolworths and Coles, plan to phase out plastic bag usage over the next 12 months. Four states (South Australia, the Australian Capital Territory, the Northern Territory, and Tasmania) have already implemented state-wide bans. Coles supermarket is the Read more...
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no plastic bag ban


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Local Foods Week celebrated in June
Published 1:47 pm Saturday, June 10, 2023
Getting your Trinity Audio player ready...
Several local, coastal counties have proclaimed June 11-17 as Local Foods Week. The Coastal Food Policy Council created by Pasquotank, Camden, Currituck, Chowan and Dare counties is working to connect citizens to healthy, affordable food options and educate them about local food systems.
“There are many reasons to support local foods. These include supporting local farmers, keeping our rural areas rural and maintaining community interactions,” stated a press release from the N.C. Cooperative Extension, Dare County Center. “Besides, we all know that money spent locally tends to stay in the local economy, creating jobs and supporting local businesses.”
For more information, follow the Coastal Food Policy Council on Facebook. Each day during local foods week, a local food grown or caught in the local area will be highlighted with recipes and fun facts related to the food. Local foods week also involves asking citizens to make a commitment to use local foods in new ways throughout the week, so check back daily for ways to become involved. In addition, information about community, economic and environmental benefits to supporting locally grown or caught products will be shared.
To learn more about local foods and how to support local foods, visit the Coastal Food Policy Council on Facebook during Local Foods Week, June 11-17 (and thereafter) to actively participate in the call for a commitment to local foods.


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SAVI, designer and manufacturer of commercial AV control and automation solutions, has announced its partnership with ProSource, a cooperative member-governed not-for-profit buying group dedicated to custom integrators and specialty retailers.
The strategic collaboration establishes SAVI as ProSource’s first exclusively commercial AV vendor, empowering their 600-plus dealers to diversify their service offerings and excel in the commercial space.
Offering intuitive control, automation, and management of commercial audio, video, and lighting, SAVI is poised to help ProSource members win more jobs and redefine the commercial landscape with an easy to install and even easier to use solution. ProSource members can now deliver simple, yet compelling AV experiences perfectly suited for bars, restaurants, entertainment centers, offices and more.
As an added benefit to membership, ProSource members will have access to the SAVI Experience Center, one of the only commercial experience centers in the country and home to the nation’s largest LG MAGNIT video wall. Located in Dallas, Texas, SAVI’s headquarters includes its state-of-the-art training facilities, systems testing lab, and collaboration spaces, serving as a dynamic resource for members, showcasing SAVI’s transformative potential to customers firsthand.
“Joining forces with ProSource is a strategic initiative to equip dealers with the necessary resources and technology to win more commercial jobs. We believe that our focus on simplifying the integrator’s work while delivering extraordinary experiences to the end-user aligns perfectly with ProSource’s vision,” says Ernest Coulter, national sales director, SAVI.


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A report from the Wallstreet journal claims that the upcoming Set top box from Amazon will feature a similar design to Google’s own media streaming device the Google Chromecast. First rumors of Amazon working on a set top box appeared last month as a way to encourage users to use Amazon’s services like Instant Video and possibly a new music streaming service.
The device will run a modified version of Android (similar to how the Kindle Fire tablets have a heavily modified Android version) and will feature third party apps like Netflix, Hulu and other popular video and music streaming services already available on the Apple TV and Roku TV
The Amazon device will carry a variety of apps available on Roku Inc. and Apple set-top boxes and run on a version of Google’s Android software, like Amazon’s tablet computers, these people said. Roku’s most popular apps include video services Netflix and Hulu Plus and music service Pandora, as well as Amazon’s own video-streaming service.
This isn’t the first time we hear rumors of a Dongle like format for the set-top box but as previously sources had already informed Techcrunch of the design. As of now there is no official release date but according to the latest rumors the device will become available some time during April this year.


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One of the foremost female singer-songwriters of our time, Jewel Kilcher's heartfelt ballads and rockin' tunes have made her a star. A natural beauty, Jewel's talent is immense and constantly evolving.
Jewel-Osco says its computers were hacked
Jewel-Osco computers, containing customer credit and debit card information, have been affected by an "unlawful intrusion," the grocery store chain's corporate parent said Friday morning.Court: Hold Jewel-Osco in contempt for breaching EEOC settlement
Jewel-Osco's treatment of employees who desire to return to work after disability leave is again under scrutiny and could lead to court sanctions against the company.Glenn Winston, Alfonso Smith, Jewel Hampton and the 49ers 53-man roster
The 49ers have three young running backs competing for any kind of roster opportunity. The loss of Kendall Hunter and LaMichael James' dislocated elbow left folks wondering what to make of the situation. LMJ is back in the fold, but with Anthony Dixon's departure, there remain some questions as to depth.New Orleans deli and grocer Little Jewel opens in Chinatown
Po'-boys-coming-soon alert: The Little Jewel of New Orleans, a grocery and deli, has opened on Ord Street in Chinatown. The shop is stocked with Acadiana staples as well as convenience store reliables, and the Community Coffee is flowing. By the end of next week, the deli is expected to be in...Jewel thieves hampered by broken, prosthetic legs
A pair of would-be jewellery thieves were hampered in their getaway last night, as one had a broken leg and the other a prosthetic leg.The men were arrested and charged with attempting to burgle a jewellery store on Auckland's North...Jewel-Osco offers help to shoppers after data breach
Locally-based Jewel Osco and Minnesota-based Supervalu reported customer credit card information was compromised in separate computer hacking incidents.Jewel-Osco Data Breach: Customers? Credit, Debit Card Information Compromised
Officials at Jewel-Osco are warning customer of a data breach that may have given computer hackers access to credit and debit card information. According to the Chicago Tribune, Jewel-Osco?s parent company, AB Acquisition made the announcement Friday morning. The company not only operates Jewel-Osco, but also Albertsons stores under Albertson?s LLC and ACME Markets, Jewel-Osco,?Jewel in crown? Olympic Dam to be mined for 200 years
BHP Billiton?s jewel in the crown asset, Olympic Dam, will be mined for as long as 200 years, indicating the huge potential economic boom for South Australia.Jewel-Osco, Supervalu credit card info compromised
Locally-based Jewel Osco and Minnesota-based Supervalu reported customer credit card information was compromised in separate computer hacking incidents.Cockram Stakes return for Commanding Jewel
The Group Three Cockram Stakes at Caulfield is set to feature the comeback to racing of Group One winner Commanding Jewel.
Full Jewel News
Jewel Kilcher's grandfather helped draft the Alaska state constitution.
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New 'Pro' iPhones to sport 'upgraded camera and Face ID'
Two new iPhone handsets due to be unveiled by Apple next month will be pitched as MacBook-style “pro” models with an upgraded triple-lens camera and improved […]Read
Google is biased – but not against conservatives
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SpaceX's Tesla Roadster completes its first lap of the sun
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New stegosaurus discovered by British team in Morocco
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Neither the weather, the calendar nor year-ago comparisons broke in favor of retailers reporting March comparable-store sales results Thursday, leaving most with only small gains and hopes for a better April.
Weather proved unseasonably cool in many parts of North America and Europe as well, and an earlier Easter made sales of new spring merchandise even more challenging. It didn’t help that stores were up against strong March 2012 figures as first-half numbers last year suggested a more muscular recovery.
Thomson Reuters put the mean gain for the month at 1.5 percent, weaker than the 1.8 percent pickup it had earlier forecast. Improved sales late in the month, as weather turned more seasonal, helped limit the downside.
The last company to file in what is now a greatly abbreviated roster of retailers, Gap Inc. proved an upside surprise with a 1 percent decline, ahead of the 2.1 percent drop expected. Banana Republic posted a 1 percent gain, while Gap was flat and Old Navy was down 2 percent.
Between the early timing of Easter and the late arrival of spring weather, stores were challenged to move spring goods. While Ross Stores Inc. beat estimates of a 1 percent decline with a 2 percent gain, enough to raise first-quarter earnings estimates, its off-price competitor The TJX Cos. Inc. reported a rare miss, comping down 2 percent.
Carol Meyrowitz, chief executive officer of TJX, noted that despite “extraordinarily cold weather across most regions of the U.S., Canada and Europe,” the decrease fell within its expectations. “In regions of the U.S. where weather was not an issue, we saw comp sales increases,” she said. “Further, overall business trends improved as the weather became warmer.”
She added that April was “off to a good start,” and that merchandise margins for the first quarter are up from a year ago and the company’s buyers “are seeing an enormous amount of desirable product in the marketplace.”
Arnold Aronson, managing director of retail strategies at Kurt Salmon, noted, “It used to be taboo to use the weather as an excuse for a bad month, but it’s become so volatile with what’s happened to the environment that, paired with an early Easter, the most important part of a store’s spring mix did get hit.”
Taking a more optimistic view, he noted that stores were up against strong year-ago numbers, “and most still managed to put up numbers that were black. But between the uncertainty in Washington and even reminders of something like the Newtown massacre, business is just slogging along at a very, very modest rate of growth — the very low single digits.”
The International Council of Shopping Centers put the gain for the month overall at 1.5 percent. “I am optimistic that April’s numbers will have a more positive outlook as warmer temperatures should drive demand for seasonal apparel,” said Michael Niemira, vice president of research and chief economist at ICSC.
But Craig Johnson, president of Customer Growth Partners, said his research teams had “continued to see weakening retail spending in our store checks. The weakness is across all price points and across merchandise categories and is not simply due to tax issues or the weather.”
American Apparel Inc. led the month with an 8 percent increase, including a 5 percent gain in same-store sales. Among the stores beating estimates for the month were L Brands Inc., formerly Limited Brands, up 3 percent versus expectations of a flat finish; Zumiez Inc., up 2.1 percent against an expected 7.5 percent drop, and The Buckle Inc., flat against an anticipated 0.3 percent drop.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia


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What you need to know
- Google Photos has entered a limited testing phase of a new search button for photos.
- This search button replaces the spot Google Lens held on photos as it will take the faces in a photo and do a reverse search through your library for more.
- Google Lens is still there, allowing you to tap on items or things in the photo and search for them using the company's search engine.
Google Photos appears to be testing a new feature that lets users search their library of pictures using the faces of a single photo.
According to Android Police, Google Photos has replaced the Lens button in the bottom row of photo options with a new search feature. This feature has also appeared to have entered a limited testing phase, with many people not actually seeing this subtle change.
This search feature allows Photos to take the faces featured in a photo and do a reverse search of other pictures in your library. This facial recognition feature lets users use one photo as the lead in finding many more that feature the same family member or a long-time friend.
It also appears as though you can tap the new search button and then tap on which face or faces you'd like the search to be conducted on. Perhaps Google Photos is letting users really get detailed in who they're looking for in these library searches.
This test hasn't removed Google Lens from Google Photos, either. While it is a little different in this test, tapping the new search button and then tapping on an article of clothing or object will activate the Lens part of Photos, allowing you to search for items in an image or select text from the image to search or translate.
Testing and changes aside, this search feature isn't anything entirely new. You can already search for photos that are similar to one another in the Google Photos app by swiping up on a photo to reveal the menu below or by tapping the three-dot icon at the top right of a photo.
What this test would bring to users in a stable, live build of the feature is a combination of the search options Google Photos can bring through your own library and the company's search engine.
The Google Pixel 7 Pro continues the sleek, sophisticated feeling that only the Pixel series provides. With a 48MP primary lens, the pictures you take will look clear and crisp. Additional features like Pixel-exclusive Android features ensure that you stay a cut above the rest.
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Nickolas is always excited about tech and getting his hands on it. Writing for him can vary from delivering the latest tech story to scribbling in his journal. When Nickolas isn't hitting a story, he's often grinding away at a game or chilling with a book in his hand.


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You have to smile when someone pulls a fast one on the French government, even when it is French bankers. This story about French unemployment benefit comes from the Times.
Under French rules, the jobless are entitled to unemployment benefit equivalent to 57.4 per cent of their salary if they earned more than €1,845.88 (£1,640) a month in their last job and up to 75 per cent if they earned less than that.
Payments are made for 23 months and there is a ceiling of €6,366.80 (£5,650) a month.
In most circumstances, it is impossible for workers to receive French unemployment benefit if they have been employed in another country, but they need to do only one day of work in France to be able to make a claim there. And if they have worked less than 28 days, that claim will be based upon their previous salary.
In other words, traders earning hundreds of thousands of pounds a year in London need to do a few days' work in a fast-food restaurant or a shop in Paris to ensure a revenue of €76,401.60 (£68,000) a year for almost two years.


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Apple has reportedly backed out of its plans to develop Augmented Reality (AR) and Virtual Reality (VR) headsets, says a report from Taiwan-based Digitimes. Although the company does not undermine the potential that AR/VR holds for the future, it has dissolved its team for the said development. The team is now disbanded and “reassigned to other product lines”.
“Supply chain-related companies said that Apple is adjusting R&D resources, and the development team for AR/VR headsets has been disbanded and transferred to other product lines,” said the report.
As per suggestions, the discontinuation of the project is said to be a result of Microsoft HoloLens co-creator Avi Bar-Zeev leaving Apple’s AR headset development team in January.
Rumours were in the air, saying the iPhone maker is super serious about launching AR glasses in 2020. Even famed Apple analyst Ming-chi Kuo backed this rumour. Kuo had said that Apple’s glasses would be marketed as an iPhone accessory. It would be a display interface while wirelessly offloading computing, networking, and positioning to the iPhone. As per him, the mass production could begin somewhere between the fourth quarter of 2019 and the second quarter of 2020.
“AR and ML will be key to delivering the right information to the right person at the right time,” Cook said recently as he announced expanded partnership with SAP.
Apple’s launch of ARkit for the utility of iOS developers has been seen as a big step for the company to enter the AR industry.
“Apple’s temporary termination of hardware development of AR/VR headsets does not mean that it is not optimistic about the prospects of AR/VR,” said the report, adding that the timing may not be ripe at this stage.
Apple CEO, Tim Cook said he views AR as “profound” because the technology “amplifies human performance instead of isolating humans.”


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It’s time again for the part of the show we all know and love, “Rumors from DigiTimes.” The publication with the iffy track record reported on Wednesday that Apple has recently stepped up IC orders, while in a second report, they claim Apple has been in discussions with LG about “Ultra HDTV” screens.
Citing unnamed sources, the sometimes reliable Taiwanese publication DigiTimes reports Apple’s microchip suppliers are seeing an increase in orders, suggesting a new product launch is in the offing.
DigiTimes claims that Apple’s chip orders for the third quarter are almost double those of Q2. Their sources claim that IC shipments will grow “significantly” during the second half of 2013, and will account for as much as 70% of the company’s orders for the year.
In the second report, the pseudo-reliable news source says a rumor, (well, at least they admit it), has Apple in discussions with LG Display about the purchase of 55-inch and 65-inch “Ultra HDTV” panels. Sharp is also rumored to be in the running to produce the high-resolution displays.
The rumor did not provide additional information, or speculation, as to what plans Apple may have for the panels, merely saying the project remains in the testing phase, and that no deals have as yet been made.
As always, take the proverbial grain of salt before digesting rumors such as this. Perhaps sea salt, as I’m told by my gourmet friends it tastes better and has a nicer texture than ordinary table salt.


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The community has rallied round owner Marck Sarfati, who has been operating his newsstand in Whole Foods’ parking lot for 28 years.
Marck Sarfati is as much of a fixture in Brentwood as the fixtures that hold up his 90-foot long newsstand that abuts the west end of the Whole Foods parking lot on San Vicente Boulevard.
The 66-year-old owns one of the few remaining outdoor newsstands in the city, where he offers up over 3,500 titles. “We are the largest and most famous newsstand in the city,” Sarfati told Brentwood News. The business is his only source of income and it pays the bills for his 96-year-old father, Nic, a Holocaust survivor. Sarfati has leased the property where he sells magazines, newspapers and cigarettes for the past 28 years. But that’s all about to change. Whole Foods has denied the extension of Sarfati’s lease and has given him until Sept. 30 to quit the premises.
The space where Sarfati plies his trade was originally owned by Westward Ho. Whole Foods bought it 20 years ago, and Sarfati renegotiated his lease with Whole Foods for another 10 years. Over the last 15 years, Sarfati has continued to have his lease extended by Whole Foods in five year increments.
In February, Sarfati sent a standard email to Whole Foods six months ahead of his lease renewal, asking yet again for his routine lease extension.
“It took me six weeks to get a response,” he said. “[Whole Foods Corporate Office in Austin, Texas], hemmed and hawed and said people were out of town.”
Finally, on March 27, Whole Foods Market Real Estate Asset Manager April Pierson sent an email to Sarfati thanking him for “being a partner over the years.” The email then went on to state: “We have seriously considered your request for additional term (sic) and unfortunately, it was concluded that it is time to make some changes at the store and with the parking situation. Therefore your lease will expire per its terms on Sept. 30, 2017.”
Sarfati said the terms “the parking situation” and “some changes at the store” were so vague he tried to get more information from Pierson. It took him several more weeks to get Pierson on the phone. “[Pierson] said my customers occupy too many parking spaces a day. I tried to tell them my customers are your customers. They’re in and out in two minutes. A lot of them pick up a magazine and then go into Whole Foods.”
Brentwood News verified this trend after spending several hours at the newsstand last week. Of the 15 parking spots in front of the stand, most were empty. A steady stream of customers stopped to purchase magazines, but most grabbed their publications and drove off very quickly, or went into Whole Foods. Any additional time spent at the stand was to sign a petition to save the newsstand.
Sarfati said he doesn’t believe the “parking situation” is the issue. By removing Sarfati’s narrow 36-inch deep strip where he sells his magazines, “all Whole Foods can do is move the cars up by five feet. It won’t solve the parking problems or create additional parking spaces,” he said.
Amazon’s surprise announcement on June 16 that it had purchased Whole Foods, came right before Brentwood News went to press, so it was unclear whether it had anything to do with Whole Foods’ decision regarding the newsstand. Rather, Sarfati believes his possible eviction may have something to do with the Brentwood Whole Foods Store Manager Amy LaBoube, holding a grudge against him. Two years ago, Sarfati’s 90-foot awning was badly damaged in a windstorm and it took time for him to find a company that could make an awning large enough to replace the damaged one.
“Amy was angry, came out and complained and told us I had to get it fixed right away.” Because it took a couple of weeks, Sarfati said he suddenly received a three day fix it or quit ticket. Although the issue was ultimately resolved, Sarfati believes LaBoube has wanted him out ever since.
Following the eviction letter, Sarfati said LaBoube told his employees that they’re not welcome in the store, after one of them went in to break money for change.
Brentwood News spoke with LaBoube who said, “It has nothing to do with the freaking awning.” Rather, she said, “I’ve been here seven years trying to do the right thing by the community, and my greatest complaint from customers is that there’s not enough parking. It’s not that there aren’t enough parking spaces [by Sarfati’s stand], it’s that people like to park and stay and hang out and read the magazines at the stand during lunch hour, which is when we are at our busiest.”
LaBoube said while she had not actually stood out in the lot or conducted any studies to see if these claims were true, she said “parking” was the main issue.
She also said that “Unfortunately [Sarfati] is in a dying business and my sincere hope is that he can find another place. That’s why we’ve given him six months.” She did concede, though, that she had no idea of the financials regarding Sarfati’s business.
Asked if there was some way to magically create another 15 parking spaces for the Whole Foods lot, whether she’d be fine with Sarfati staying put, LaBoube said, “I’m not not fine with him staying now, but this is a tiny store that does a whole lot of business.”
LaBoube referred Brentwood News to Whole Foods Executive Marketing Coordinator Marci Frumkin, who did not return requests for comment prior to going to press.
Sarfati said CD 11 Councilmember Mike Bonin might be able to help halt his eviction. Bonin recently stopped by the stand to sign the petition and Sarfati said Bonin might be able to have the newsstand space declared a historical landmark, which would make it impossible for him to be evicted.
Bonin told Brentwood News in a statement, “The Brentwood Newsstand is a community treasure and the Sarfatis’ story exemplifies the American dream. I’m joining the thousands of neighbors in Brentwood and other nearby neighborhoods to urge Whole Foods’ management to reconsider their decision and allow the Brentwood Newsstand to stay at its current location.”
Regarding the possibility of declaring the newsstand a historical landmark, a spokesperson for Bonin said, “We are exploring the possibility.”
Meanwhile, people continue to stop by the newsstand to sign the petition. One woman who works in PR who didn’t wish to give her name, picked up a slew of magazines and said, “I’ve been coming here the last three years. This is the most reliable newsstand for buying up to date publications. I come here every day. I also love local places. I hope they save it.”
Julian Auzenne, Martin Ramos and Elvis Guerra who work in the building next door to Whole Foods, had just picked up lunch at the grocery store and stopped by to sign the petition. “We’re here to support Marck,” Ramos said. Auzenne pointed at the fixtures and poles that hold up Sarfati’s stand and said, “Unless they’re changing all these poles to stripper poles, we want to keep the newsstand.”
Katie Leary said, “I want to voice my displeasure [at the eviction]. I’ve lived here my whole life. It’s one of the great things about this city. We lost Westward Ho and Dutton’s [bookstore]. This doesn’t need to happen. They need to save it. If there’s a protest, let me know!”
Leary was in luck. Sarfati has indeed planned a protest from 11 a.m. to 1 p.m. on Sat. June 24. “In honor of my father’s 96th birthday that day,” he said.
At press time, Sarfati had collected over 3,100 signatures both at his stand and online, via a petition on Change.org. Scores of locals and celebrities who frequent the stand have stopped by to sign the petition, including Owen Wilson, Dustin Hoffman and Henry Winkler. Sarfati said he plans to send the signatures to Whole Foods management and to Amazon’s Jeff Bezos. He’s also printed up t-shirts that he and his employees have been wearing. The white tees are emblazoned with large green lettering that read: Save Brentwood Newsstand. He’s also created bright yellow placards that stand proudly in front of his stand, proclaiming, “Being Evicted By Whole Foods” “28 Years Here” and “Boycott Whole Foods.”
Said Sarfati, “I’m not going down without a fight.”
Whole Foods corporate offices did not respond to requests from Brentwood News prior to publication.
Click here to sign the petition.


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The news is out.
It’s not that the Office 365 subscription isn’t going to continue to grow, but the cloud has seen an uptick in users.
A new study published by comScore shows that users are more likely to have their inboxes filled with news from the web or social media.
The study also found that people who subscribe to Office 365 are more often checking email in the background.
That’s an issue, because it means that if an email is too slow to read, that’s a sign that someone might not be paying attention to your message.
The Office 365 version of Outlook is available for free to users who subscribe.
But you can also buy Office 365 Pro for a bit more, or purchase it as an Office 365 Professional Plus subscription to get all the Office features.
The Pro version includes the Office productivity suite, Office Lens, and other productivity tools.
There’s also an optional add-on called “Pillow,” which adds an optional video chat app.
If you’re looking for a better value for money, you can check out the full comScore study here.


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Microbiology company Hygiena has launched a new palm-sized rapid detection instrument, designed to help manufacturers spot contaminants in no more than 15 seconds.
The UK wheat crop declined this year; a research organisation calls for minimum whole grain requirements; and Cargill launches a website for the grain industry.
Researchers from the US Agricultural Research Service (ARS) claim to have stabilised a process of using extrusion technology to make healthy and tasty snacks out of legumes.
Scientists from Nestle and the University of California have developed a model which could help explain the texture as well the transport of flavours and nutrients in foods.
Cargill Texturizing Solutions has expanded its lethicin offering along quality lines, making four different grades available to cater to manufacturers' precise needs and budgets.
Researchers in the US have developed what claims to be the first tool that can predict the timing, quality and weight of sweet corn crops, a move that is expected to help the industry meet consumer demand for the vegetable.
A newly developed culture medium provides a simpler way to distinguish between Campylobacter species, according to scientists.
A brand new test for food processors can spot within five minutes the presence of biogenic amines, naturally occurring toxins that cause headaches, researchers claim.
A new system of screening and testing cheese can offer processors a cost effective way of driving large-scale innovation within their products, its manufacturer claims.
US researchers claim to have invented a new 'food freshness sensor' that can accurately detect spoiled food, and so help in the battle against food poisoning.
A new panel-mounted device for cold storage equipment can download temperatures directly on to a computer, making record keeping faster and more accurate.
A new x-ray system uses two beams to achieve dual detection for increased accuracy and improved product quality, its manufacturer claims.
Scientists in Denmark have created two tiny devices, which they have leveraged to detect a range of contaminants, from molecules to whole bacteria, in food and water.
A Japanese manufactured food x-ray system has been rated number one in performance tests by the Danish Meat Association.
A new automatic air sampler is designed to monitor pathogens at food manufacturing sites.
Foss has updated its original grain and flour analyser to improve its efficiency in quality analysis for millers.
Deltatrak today announced a new line of temperature recorders that offer accurate readings throughout the supply chain, the company claims.
A new food contaminant testing method for melamine and cyanuric acid decreases the time it takes to get accurate results for meats, its developer claims.
Dairy is on the agenda for US group Advance Instruments as it seeks to bring greater innovation to industry testing at the 2007 annual meeting of the Institute of Food Technologists (IFT) to be held next week.
A new high-speed samonella test has been developed that provides processors with results within 18 hours, its manufacturer claims.
In this webinar, we will present several methods using mass detection, including the analysis of patulin in apple juice, and the analy...


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Several media outlets are viewing the BlackBerry Playbook launch as lackluster because of the absence of a big consumer lineup.
Quarter after quarter, RIM sells devices to over 10 million customers without fanfare or extra wait in line for their early adopters. It seems strange that it is now the standard in which gadget launches are graded. Judging a device launch based on it’s surrounding hype is like deciding the results of an election based on exit polls. These first few months of getting the Playbook in the hands of consumers and developers publishing software will slowly reveal to the public the true potential of the Playbook.
I don’t interpret “BlackBerry amplified” as being a typical tablet experience. Now that the BlackBerry Playbook has launched, people will slowly come to realize how unlike a large connected iPod it really is.


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Don’t you just love leaks? Without leaks we wouldn’t have this lovely release schedule for Intel’s 2015 products that details when the company will be releasing processors based on its Skylake micro-architecture. The leaks also suggest that Intel doesn’t intend to bring Broadwell to standard desktops this year, preferring instead to stick with all-in-ones.
Intel has sprung a leak again, and this time it’s a graphic depicting the company’s busy and complex 2015 release schedule. The information, published on the Chinese-language version of VR-Zone, indicates the planned 2015 releases are on schedule. The leaked information suggests that the next release will be Broadwell for desktops, albeit chips that target all-in-ones rather than full blown desktops. That will be followed by Skylake, which will hit mobile first, followed shortly by desktops in chips that target TDPs as high as 95 watts.
Share Your Thoughts


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AI adoption helps retailers grow by 30%
That’s according to research from Peak, in their new ‘AI Opportunity for Retail’ report.
The report argues that despite seemingly gloomy retail growth predictions, the industry holds great potential, as it claims total retail sales across the industry are actually at their highest ever point. This is down to ecommerce success, with fashion brands showing particularly impressive growth.
The research also found that the median gross profit margin for companies that are using AI was 50% higher than those who aren’t, at 48% versus 32%. Examples of AI in retail include a ‘recommended products’ feature, using predictive software to manage inventories, targeted advertising, and chatbot customer care.
Peak.ai explains how AI can help retailers:
- AI drives business growth – Peak.ai analysed e-commerce companies with 50-249 employees that were turning over more than £10m. On average, those companies using AI enjoyed an 18% YoY sales growth in 2017, a massive 30% faster than companies who were not using AI (who grew at 14%).
- AI increases profit margins -Among those companies, the median gross profit margin for companies that are using AI was 50% higher than those who aren’t (48% vs 32%)
- AI improves inventories – The median number of stock days for companies that are using AI in the sample was 43: a 9% reduction on the 47 median stock days of companies not using AI.
Will Dutton, head of customer success at Peak.ai, says: “Not only is artificial intelligence no longer inaccessible, its practical applications span the product and service cycle, from development to customer service interactions. As with any new technology, the key for businesses is to approach artificial intelligence questioning if and how it could be used to achieve their business goals.
“If you’re not already, then take time to find out how artificial intelligence is being applied for retailers like you. What once appeared to be an abstract, complicated and expensive technology will soon become your most valued business capability.”


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Nutella Loses "Healthy" Lawsuit
Slimy gelatinous not-chocolate muck Nutella has lost the class-action lawsuit filed against it for claiming it was a healthy food item. In fact, one serving's ingredients are "comparable to a Three Musketeers bar."
“Defendant’s claims regarding Nutella are also false and misleading because they omit that Nutella contains over 55 percent processed sugar, the consumption of which has been shown to cause type 2 diabetes and other serious health problems,” the suit said. Particularly popular in Europe, especially Italy, Nutella is a breakfast and snack staple. Creative home cooks have been known to use it as a substitute in recipes for chocolate-banana crepes or chocolate thumbprint cookies. Basketball star Kobe Bryant formerly served as the spread’s spokesman. It even has its own fan-started “World Nutella Day.” The chocolate topping is made with sugar, palm oil and hazelnuts. A few tablespoons of Nutella contain about 200 calories, 11 grams of fat (3.5 grams saturated) and 21 grams of sugar.As part of the massive settlement, Ferraro USA has agreed to compensate American customers for up to the cost of five jars of Nutella ($20). The actual payout will depend on how many people apply.


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LONDON — Scotland is poised to become the first country to end “period poverty” by providing free sanitary products to women of all ages in the country.
Free menstrual products are already available to students in high schools, colleges and universities in Scotland. And a bill passed by the Scottish Parliament on Tuesday will make pads and tampons free across the board.
Monica Lennon, the lawmaker who submitted the draft proposal of the bill, said she was thrilled that it had attracted support across Scotland, including from civic groups and “individuals who have had their own lived experience of period poverty and know what it is like not to have access to products when they need them.”
Although the bill passed with 112 votes in favor, none against and one abstention, some lawmakers warned that the legislation faces a few hurdles before becoming law, though they were regarded as surmountable. One of those is a yearly cost that the government puts at about $31 million.
Tampons are taxed at 5 percent in Britain — a levy that the British government has been unable to abolish because of European Union rules that class sanitary products as “luxury” products. The bloc has pledged to remove all taxes on menstruation products by 2022.
About 62 million pounds, or $80 million, collected in taxes on sales of sanitary products in Britain has been diverted to women’s charities since 2015, the minister for civil society, Mims Davies, said last year.
Nearly 10 percent of girls in Britain have been unable to afford period products, and 19 percent have resorted to using substitutes like rags, newspapers and toilet paper because of the high cost, according to research by a girls rights charity, Plan International UK.
The provision of free products is also aimed at combating the culture of silence and stigma surrounding menstruation, which the charity says can pose physical, sexual and mental health risks for young women. Nearly half of girls age 14 to 21 in Britain are embarrassed by their periods, the research found.
Last month, women’s groups criticized supermarkets for putting up anti-shoplifting messages across sanitary product shelves, warning that such campaigns stigmatize women who cannot afford the products.
“Period poverty is an issue that affects women and girls across the U.K., with more than a quarter having missed work or school because they couldn’t afford or didn’t have access to menstrual products,” said Mandu Reid, the leader of the Women’s Equality Party.
“A decade of austerity has pushed many women into a desperate financial situation,” she said, “and many have been forced to use makeshift items, shoplift or simply go without these basic necessities.”


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Russia PNTR and the American Workers
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Tomorrow, the House Committee on Ways and Means will mark up legislation to grant American workers, farmers, and companies significantly improved access to the growing Russian market. Known as Permanent Normal Trade Relations (PNTR), this legislation enjoys strong bipartisan support.
Unfortunately, a handful of labor unions have expressed opposition. But in doing so, at least one union has demonstrated it doesn’t understand the facts — namely, that the Russia PNTR bill exclusively benefits Americans.
The International Association of Machinists (IAM) writes that it “opposes the admission of Russia to the World Trade Organization (WTO).” But Congress isn’t even voting on this question. Russia’s accession to the WTO is a done deal; it is 100% confirmed; and it will happen in 28 days.
The IAM also thinks that the “U.S. government should require substantive improvements in Russia’s human rights record before even considering extending trade benefits.”
Again, this misrepresents the bipartisan PNTR legislation. As the U.S. Chamber wrote today to the Committee on Ways and Means: “Contrary to popular misconception, PNTR does not extend any ‘trade preferences’ to Russia; rather, it exclusively benefits U.S. workers, farmers, ranchers, and companies selling their goods and services in the Russian market. The United States gives up nothing -- not a single tariff -- in approving PNTR.”
As the Chamber explained:
Russia will join the World Trade Organization (WTO) on August 22, 2012. To reach this goal, Moscow was required to implement a far-reaching package of legal and regulatory changes that will further open its market to imports, safeguard intellectual property, and ensure greater respect for the rule of law.
The result will be more U.S. exports and more American jobs. U.S. companies see huge potential in Russia, which boasts the ninth largest economy in the world and a growing middle class. Of the top 15 U.S. trading partners, Russia was the market where American companies enjoyed the fastest export growth last year (38 percent).
However, the United States won’t get the full benefits of Russia’s market-opening reforms unless Congress approves legislation establishing PNTR with Russia.
The Chamber congratulates the Ways and Means leaders —Chairman Dave Camp (R-MI), Ranking Member Sander Levin (D-MI), Trade Subcommittee Chairman Kevin Brady (R-TX), and Trade Subcommittee Ranking Member Jim McDermott (D-WA) — for their leadership on this vital legislation and wishes them all the best in tomorrow’s markup.


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11/30/2011, It’s been many months since the Mango update for Windows Phone 7 started rolling out but certain handsets have yet to receive it yet. Case in point – the Dell Venue Pro on AT&T. But for those of you who own that particular phone, we’ve got some good news for you. Microsoft has just announced today it has started delivering the update to Windows Phone 7.5 Mango for the Dell […]
11/29/2011, If Microsoft’s recent $25 store credit promotion wasn’t enough to convince you to switch over to Windows Phone 7, maybe you’d like to get a hands-on experience with the operating system. Microsoft has recently put up a website that allows you to do just that. No, you don’t need to hack your phone or load a custom ROM; all you have to do is visit the website on your smartphone’s web […]
11/25/2011, With Android getting a luxury brand smartphone of its own in the form of an LG and Prada collaboration, why should Windows Phone be left out of the loop, right? It seems that Expansys is now offering UK customers the chance to purchase an unlocked LG Jil Sander Mobile LG E906 Windows Phone handset for a price of £299.99 (~$466).
11/23/2011, It seems that according to a tweet (which was then retweeted by Nokia India), Nokia Drive might not be so exclusive after all. The tweet seemed to suggest that Nokia Lumia phones will be getting the app for free, while non-Nokia Windows Phone devices would be required to pay a fee if they chose to use the Nokia Drive app.
11/21/2011, One of the exclusive features that Nokia Window Phone devices have over other competing Windows Phone devices is its Nokia Drive app. The app is Nokia’s 3D satellite navigation system that allows for the user to download maps and store it for future use. However despite the ability to download maps, it would imply that it could be used for offline purposes, right? Wrong. It seems that while maps can […]
11/21/2011, It appears that the good folks down at PocketNow have managed to get their hands on what appears to be the Nokia Lumia 601. If you’re wondering why the image above looks so familiar, it’s because it’s the same image that popped up in a Nokia ad not too long ago. The phone in that ad was thought to be the Nokia 900, but PocketNow is saying that it is […]
11/21/2011, If there was ever a good reason to get a Nokia Windows Phone, as opposed to HTC or Samsung, it would be because Nokia Windows Phone devices will come with Nokia Drive preinstalled. This was supposed to be an exclusive feature for Nokia’s handsets to help set them apart from the competition and encourage adoption, but alas that does not seem to be the case as the Nokia Drive XAP […]
11/18/2011, One of the reasons why quite a number of people are reluctant to try a different operating system when it comes to getting a new phone is due to all the money invested into the current platform. After all, why would you want to re-buy apps on a different platform when you’ve already spent money on them right? Well, Microsoft is hoping to alleviate these issues with its latest promotion. […]
11/17/2011, For AT&T customers who are rocking to a Samsung Focus 1.4 smartphone, here is a little bit of good news to end your week on a decent note – it seems that Windows Phone 7.5 updates will be rolling out for said smartphone, while the same update is also in the works for those who are using the Samsung Omnia 7 all the way across the pond – in Spain, […]
11/17/2011, Nokia has recently launched their Nokia Lumia 800 Windows Phone devices in markets other than the US, so how are they holding up? Well, according to Nokia’s CEO Stephen Elop, the response to these new Windows Phones from Nokia have been pretty good so far.
11/17/2011, Microsoft’s Windows Phone 7.5 update brought the internet sharing feature to some of the newer Windows Phone devices. This was an exclusive feature limited to phones launched with Windows Phone 7.5 already installed, but a recent update by HTC that’s being pushed out to the HTC HD7 and HTC Mozart has brought this internet sharing feature to both the older Windows Phone models. It seems that HTC HD7 and HTC […]
11/16/2011, While we usually don’t pay too much attention to phone renders that are spotted in video clips – most of the time they are prototypes and inaccurate representations of the final devices unless they’ve been announced before. Well, a render of an unannounced Nokia Windows Phone device was recently spotted in an official Nokia video by the folks over at MyNokiaBlog.com. The phone looked sleek and bore a slight resemblance […]
11/16/2011, Remember Snake, the classic game that was found on pretty much every Nokia phone back in the day? Well, it looks like the game has been given a new breath of life – for a short while at least. The Nokia Lumia 800 launched in the UK today, and to celebrate, Microsoft has updated its MSN UK website with fancy Windows Phone colors, and a Flash game of Snake. The […]
11/15/2011, Remember when back in October it was reported that Microsoft would be giving $20 million to Nokia in order to help promote its Windows Phone devices? Well, it really looks like Microsoft/Nokia are pulling out all the stops. Nokia has announced a spectacular “4D” show that will be taking place on the surface of the iconic Millbank Tower in London. The show will feature the world-renowned DJ- deadmau5 and his […]


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Sharekhan has given Buy recommendation for Cipla with a target price of Rs. 1150 in its research report issued on Mar 31, 2022
Sharekhan’s research report on Cipla
A relentless focus on growing its India business has led to a strong show by Cipla, largely led by growth in the chronics therapies and synergies from One India Strategy. Recent price hike by NPPA, effective April 2022, could help Cipla partially mitigate cost pressures. Likely market share gains in gAlbuterol and Arformoterol Tartrate Inhalation Solution, and a strong product pipeline including complex products would fuel US sales growth. Overall based on the company’s cost control measures, savings from one India strategy, and expected improvement in US business, the overall margins are expected to expand 180 bps over FY22E to FY24E, albeit in the near-term elevated input costs and freight cost point at margin pressures.
We re-iterate Buy recommendation on Cipla with an unchanged PT of RS 1150.
At 12:10 hrs Cipla was quoting at Rs 1,010.15, down Rs 8.35, or 0.82 percent.
It has touched an intraday high of Rs 1,025.40 and an intraday low of Rs 1,007.60.
It was trading with volumes of 21,083 shares, compared to its thirty day average of 149,013 shares, a decrease of -85.85 percent.
In the previous trading session, the share closed down 1.31 percent or Rs 13.55 at Rs 1,018.50.
The share touched its 52-week high Rs 1,083.15 and 52-week low Rs 806.20 on 15 March, 2022 and 05 April, 2021, respectively.
Currently, it is trading 6.74 percent below its 52-week high and 25.3 percent above its 52-week low.
Market capitalisation stands at Rs 81,500.32 crore.


text: The mainland has extended import and export rights long cherished by many state-owned enterprises to non-state sectors - including private and foreign businesses. A circular issued by the Ministry of Foreign Trade and Economic Co-operation (Moftec) last month allowed all qualified businesses to trade all commodities and technology, unless otherwise restricted by the state. The new rules require a business with minimum registered capital of three million yuan (about HK$2.82 million) to register with provincial authorities for the right to import its own equipment and raw material, and export its products. The minimum capital requirement is relaxed to two million yuan in less developed areas, and one million yuan for high-technology firms. Registered capital of at least five million yuan and certification by Moftec are required for other kinds of trading activities. Again, in an attempt to foster trade with the underdeveloped hinterland, the minimum registered capital requirement is reduced to three million yuan in central and western China. The new rules promise a speedy review process. Authorities are required to give a decision on all applications within 10 days of their receipt. The latest move is deemed a pat on the back for non-state-owned enterprises, which accounted for about half of the mainland's exports last year, according to Xinhua. Analysts also see the new rules as a way for the government to oil China's export machine. In the first half of this year, Chinese exports grew 8.8 per cent to US$124.57 billion, compared with 27.8 per cent growth for the whole of last year.


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Govt to set up online GST audit mechanism: The sources claims that government is soon going to set up online GST audit mechanism in light of the issue of the GST fake registration, bogus billing and frauds, wherein taxpayers are required to provide a substantial amount of documentation in order to conduct an audit.
The GST Audit Manual, published by the Central Board of Indirect Taxes and Customs, outlines the standard formats, deadlines, and list of documents needed to conduct an audit.
As recommended by a legislative panel in its report on “anti-competitive practices by the big tech companies,” the Union government will establish an online audit system under the Goods and Services Tax (GST) in order to speed the procedure.
The report further states that, “The recommendation for the creation of an online audit tool has been accepted by the ministry. The committee would anticipate that the ministry will take this matter seriously in an effort to improve the GST audit procedure.” The standing committee on finance also stated in its report that it “desires to be informed of the results of this undertaking at the time of furnishing the final action taken statement.”
The GST Audit Manual, which lists the standard formats and documentation needed to conduct an audit, was released by the Central Board of Indirect Taxes and Customs. Email can be used to submit copies of the paperwork and records that must be turned in for the audit. If any clarification is required from the taxpayer, it may be provided via email.
The corporate affairs ministry responded to the panel’s recommendation by stating, “From a systems perspective, the current audit functionality provides the feasibility for conducting the audit online wherein the taxpayer as well as the tax officer can upload the required documents for further examination.”
The advice was made because of the concerns over GST audits, where taxpayers are required to provide a substantial amount of documentation in order to conduct an audit. Additionally, the assesses are also required to attend in person at the GST offices, which takes a lot of time from both the assesses and the officials.
The panel recommended the online audit system under GST to improve the procedure and make it less intrusive.
A white list of the documents needed to undertake an online audit, which would serve as a guide for officers and the assessee, has been requested by the legislative panel.
In order to prevent harassment of honest taxpayers during searches and seizures, the committee has recommended some measures along with installing CCTV cameras in the interrogation room. The corporate affairs ministry has instructed CBIC to do so.
This GST Audit mechanism will reduce frauds and fake invoicing happening in multiple industries.
It has also been seen that CBIC has shortlisted 50,000 fresh cases that will be taken up for GST audit in this Financial year to increase the compliances and tax base.
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As Santa Barbara County eases restrictions on restaurants and retail stores, one question proves to be crucial in the race to reopen: Will the customers return? It’s especially important in the small town of Carpinteria, where local businesses are working hard to stay afloat amid the ongoing pandemic.
Rick Mancilla owns The Worker Bee Café in Carpinteria along with his son, also named Rick. The duo, along with the rest of the staff, provided takeout and delivery service for the three-month period that dine-in service wasn’t an option. Since reopening for in-person dining, they saw an immediate demand from customers eager to return to the bustling brunch spot. “It’s definitely not what we’re used to seeing this time of year in Carpinteria, but it has significantly bounced back from when we were just doing takeout,” Mancilla said.
Worker Bee is down by 50 percent in dining capacity because of social-distancing guidelines, and the size of the staff has shifted down, too. “Employees were eager [to return], but we also have a skeleton crew, mind you. We don’t have everybody in here because it just doesn’t justify it,” Mancilla explained.
Other local eateries have not enjoyed the same success. In early May, Crushcakes & Café permanently closed the doors of its Carpinteria location after 10 years of business. After experiencing a loss in sales due to the pandemic, owner Shannon M. Gaston was unable to work out a deal with her landlords, according to media reports. Crushcakes’ two other locations in downtown Santa Barbara and Goleta remain open every day of the week with limited hours.
Retail stores in Carpinteria also face a unique set of challenges, pandemic or not. Tivadar Horvath is the owner of Carp Sports, a sporting-goods store that he has run as a one-man band for 11 years. When the coronavirus came around, the store stayed open as an essential business because it offers bike servicing and repairs, which is part of the essential service of transportation.
“As a small retail business, it’s not easy; I’ll be blunt,” said Horvath. “It’s pretty hard, so you have to improvise and adjust to the situation because the internet is a big competitor.” But Horvath believes there’s one thing that will continue to separate stores like his from online buying: the ability to see exactly what you’re getting. “People go there because they can touch and feel the product and buy,” he said.
Carpinteria’s size makes it tougher for businesses to thrive in difficult circumstances compared to a neighbor like Santa Barbara, but customers’ response so far is encouraging for business owners looking ahead to the summer months. “It seems like people have just been kind of eager to get things going again and get back to normalcy,” Mancilla said.
Customers are grateful, too. “What I’ve noticed is … people seem to be really thankful that they can walk into the store, and they thank me for being there,” Horvath said. “I’ve heard that phrase a lot more lately within the last couple of months, more than ever before.”
At the Santa Barbara Independent, our staff is working around the clock to cover every aspect of this crisis — sorting truth from rumor. Our reporters and editors are asking the tough questions of our public health officials and spreading the word about how we can all help one another. The community needs us — now more than ever — and we need you in order to keep doing the important work we do. Support the Independent by making a direct contribution or with a subscription to Indy+.


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With more than two years into the lead-free conversion, it’s become clear lead-free components are reliable. According to Dr. Ronald Lasky, senior technologist with Indium and a professor at Dartmouth University says the surprise of RoHS is that reliability has not been an issue. In this video interview, Lasky discusses a wide range of environmental issues in the electronics industry, including halogen-free solders and standards in lead-free solders.
For industrial control applications, or even a simple assembly line, that machine can go almost 24/7 without a break. But what happens when the task is a little more complex? That’s where the “smart” machine would come in. The smart machine is one that has some simple (or complex in some cases) processing capability to be able to adapt to changing conditions. Such machines are suited for a host of applications, including automotive, aerospace, defense, medical, computers and electronics, telecommunications, consumer goods, and so on. This discussion will examine what’s possible with smart machines, and what tradeoffs need to be made to implement such a solution.


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Michael Gove has said the difficulty in increasing the number of Covid-19 tests is due to a shortage of the relevant "chemical reagents".
Asked about testing for NHS staff at the Government’s daily coronavirus briefing at Downing Street, Mr Gove said: “We are increasing the number of tests.
“One of the constraints on our capacity to increase testing overall is supply of the specific reagents, the specific chemicals, that are needed in order to make sure that tests are reliable.”
Well I've just talked to the Chemical Industries Association, which represents the UK's very substantial chemicals industry.
It has contacted its members, and they've said there is no shortage of the relevant reagents.
So the Association has now been in touch with Mr Gove’s office to find out what he means, because it is stumped.
The Association also points out there was an industry chat with a business minister on Tuesday, who made no attempt to find out if there was a supply problem for the vital ingredients of Covid-19 testing kits.
So this question of why there aren't enough tests for the virus is an even bigger mystery.
Also, if it turns out there is a shortage, these manufacturers are more than happy to increase their production.
But they need to be asked, which has not happened.
PS. It was Labour MP Bill Esterson who initially spotted this gap between what Gove said and what the industry believes to be true.
PPS. So a government source says - which is true - that there is a global shortage of the reagent. As it happens, Chief Medical Officer Chris Whitty said this a couple of weeks ago, as has head of CDC in US. But that still doesn't explain why Chemicals Industry Association thinks its members, could help find a solution if asked by the government.
And it also doesn't explain - as I pointed out in a PM press conference earlier in the month - why the government didn't forward plan by buying stocks of ingredients for the testing kits weeks ago, before demand from rich countries soared.
The point is that if the government is thinking out of the box for the manufacture of ventilators, potentially placing huge orders with the likes of F1's McLaren, Mercedes and Dyson, why not do the same for Covid-19 tests?
Coronavirus: Everything you need to know


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Galaxy on Fire 2 HD Released for the PlayBook
Fishlabs Entertainment let us know that they have just released their latest game, Galaxy on Fire 2 HD for the BlackBerry PlayBook. This is the second in the sci-fi saga and it’s a mix of action, RPG and adventure based in outer space. You take the role of space war veteran Keith T. Maxwell in trying to save the galaxy from getting destroyed by alien raiders and all sorts of evil.
The game is currently available in App World for $9.99, go check it out!


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URGENT: Railroads have PULLED all their Equipment off the US West Coast; Refusing Freight to/from CA #news
A Northern California logistics consultant was unable to book containers on the Burlington Northern Santa Fe (BNSF) or Union Pacific (UP) railroads for the entire first week of September going to and from U.S. West Coast ports and Midwest destinations.
The consultant said, “I have been working in the industry for thirty years and I have never seen anything like this. It’s weird.”
The result is that importers of low value products being shipped by containers such as tee shirts would be at an economic disadvantage transporting containers by truck as opposed to by rail between U.S. West Coast ports and Midwest destinations, because of the higher cost.
The consultant explained that there is a huge shortage of rail capacity: “There are no rail cars and there are no chassis.”


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|Image credit: MarTechToday.com|
- “And going beyond keywords to search for products, eBay launched eBay ShopBot for its users. The app runs on Facebook Messenger and lets shoppers interact with a chatbot using text message, speech or image. According to eBay, the goal of the app is to provide the services of a personal shopper by giving tailored search results.
- Sunil Gopinath, CEO of Rakuten India, explains in an interview with Factor Daily that they use the same technology for different applications. Additionally, he said, “Out of over 70 services we have, almost 30 services will be enabled with AI chatbots by the end of . The objectives are to improve customer satisfaction significantly and also sales productivity. We’re partnering with IBM Watson to enable those AI chatbot engines.”
- Working on artificial intelligence has brought improvements in customer service, according to the company (Flipkart). A report in the Hindu Business Line on the company’s net promoter score (a measurement of a customer’s likelihood of recommending a company’s services or products) claims an increase of 14 percent in the middle of 2017, growth of 14 percent in customer resolution and a drop of 25 percent in customer pain. The company attributes these improvements to chatbots that were launched in April 2017.”
- Read Full Post


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BetMGM Announces Launch Of Wheel Of Fortune Online Casino; Mobile App Now Available In New Jersey
BetMGM has launched Wheel of Fortune Online Casino in collaboration with IGT, making it the first brand-led online casino in North America. The casino is now live in New Jersey, offering players a variety of themed games and features, including America’s Game®-branded slot titles. The Wheel of Fortune brand has been a prominent staple on casino floors for over 25 years. The launch of Wheel of Fortune Online Casino represents the latest gaming expansion of the iconic American game show. The mobile app is now available for download on iOS and Android devices. Customers can access responsible gaming tools through the GameSense integration within BetMGM’s mobile and desktop platforms.
IGT Reports Q4 2022 Revenue of $1.06 Billion and Returns to Profitability
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International Game Technology (IGT), a leading gaming and lottery company, has reported a revenue of $1.06 billion in the fourth quarter of 2022. This represents a 3% increase compared to the same period in the previous year. The company also returned to profitability with a net income of $72 million, compared to a net loss of $168 million in Q4 2021.
While IGT’s stock price has experienced volatility over the past year, it is currently at $20.90 per share as of March 8th, 2023. This is lower than the stock’s high point of $25.60 per share in September 2022 but higher than its low point of $16.70 in December 2022.
Despite the fluctuations in the stock price, IGT has received an average rating of “Buy” from ten Wall Street analysts who cover the stock. The consensus price target for IGT is $27.00 per share.
IGT’s Q4 2022 results show a positive trend in revenue and profitability. While the stock price has experienced volatility, Wall Street analysts maintain a positive outlook with an average “Buy” rating and a consensus price target of $27.00 per share.
IGT Poised for Upside Potential with Strong Financials and Growth Story
International Game Technology (IGT) is a multinational gambling company that produces slot machines and other gambling technology, providing gaming machines, lottery systems, and sports betting services worldwide. Headquartered in London, IGT has principal offices in Rome, Providence, Rhode Island, and Las Vegas. The company’s products consist of slot machines and social gaming platforms, and it has significant operations outside the US.
Despite trading at a discount to its peers, Wall Street analysts see upside potential in IGT, with shares potentially worth 50% more at a multiple in line with its peers. The company has a credible growth story backed by strong financials, including a high FCF yield. Investors will want IGT’s growth in ROCE to persist. In Q3 2022 earnings report, the company beat expectations and updated FY22 guidance.
In March 2022, IGT’s subsidiary, IGT global services, announced a 6-year partnership agreement with Singapore Pools Limited. In April 2022, IGT announced its deal to acquire iGaming content provider iSoftBet for approximately…
As of March 8th, 2023, IGT’s stock price is $15.20 per share, trading at a discount to its peers. However, Wall Street analysts have provided an average price target of $23.00, with the highest price target at $25.00 and the lowest at $21.00. Investors should consider the potential upside of IGT’s credible growth story backed by solid financials when evaluating whether or not to invest in the company.
IGT Leads the Way in Global Gaming with Strong Financial Performance
International Game Technology (IGT) operates in over 100 countries worldwide and deals with different ethnicities and nations with varying levels of regulation. IGT has seamlessly transitioned to the web-based side of gaming, offering players their favorite games across various channels and regulated markets, from gaming machines to sports betting.
In 2022, IGT achieved all its financial goals while strengthening its leadership positions across its Global Lottery, Global Gaming, and Sports Betting businesses. The company generated strong cash flow while increasing product investments, resulting in significantly improved earnings power, as demonstrated by its adjusted EPS. With reduced interest expenses and improvements to the effective tax rate, IGT’s financial performance is a testament to the strength of its business model.
IGT is uniquely positioned to provide regulated gaming services as player demand grows worldwide and governments need funding. The company offers the industry’s most significant number of game themes, with a vast library of titles and game types targeting specific player segments. IGT is also known for its attention to detail and outstanding design, as well as its free spins and generous welcome bonuses.
As the global leader in gaming, IGT delivers entertaining and responsible gaming experiences, from Gaming Machines and Lotteries to Sports Betting. The company has demonstrated leadership in global sustainability by providing globally trusted solutions for exclusive content and platform innovation.
IGT’s strong financial performance and global leadership position in gaming make it an attractive investment opportunity. With a vast library of game themes, attention to detail, and outstanding design, IGT is poised for continued success in the gaming industry.