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NEW YORK (MarketWatch) -- With the U.S. stock market's recent rise coming on the heels of better-than-expected earnings results, investors are looking to the third quarter with raised expectations that could be difficult to meet.
"We're starting to see guidance get a bit better, and that reflects both the fact that companies are beating estimates in the second quarter and the economy appears to be groping for a bottom here, which allows estimates to drift up," said Charles H. Blood Jr., a financial adviser at Brown Brothers Harriman & Co.
But Blood cautions that year-over-year comparisons for the coming quarter make it a difficult one, given that "last year's third quarter, for all except financials, was good for most everything else."
“'We think the fourth quarter will be up year-on-year because last year's fourth quarter was such a disaster.'”
The dismal third quarter tallied by the financials last year has analysts projecting earnings growth for the sector to soar 276% in the quarter to come, according to FactSet Research.
The consumer discretionary sector is expected to post revenue growth of 2%, while utilities are projected to realizing a small increase of 0.2%.
The remaining sectors are expected to realize declines, with energy earnings forecast to fall nearly 68% and industrials to tally a 37% drop.
Overall, FactSet projects an overall earnings decline of nearly 23% for the S&P's 500 companies.
The bar should be far lower in the final quarter of 2009, when it would be reasonable to start looking for a rise in corporate profits.
"We think the fourth quarter will be up year on year because last year's fourth quarter was such a disaster," said Blood.
Wednesday's trade had the major stock indexes declining on the heels of disappointing economic data, with health care and industrials bleeding the most, and financials fronting the limited gains.
American International Group Inc.
On track to snap a four-day winning streak, the Dow Jones Industrial Average
With 80% of the market capitalization and three-quarters of the S&P 500 companies reporting, the second quarter revealed what Blood called "back-handed good news.
"Things are going down, but not as fast. That's the second-quarter story."
Of the 364 companies that have reported results, the ratio of positive to negative surprises is nearly five to one, the highest reading in Brown Brothers' data going back to 1994.
The companies reporting so far have surpassed consensus expectations by nearly 13%, a percentage which is modestly lower since last week due to misses from the energy sector, with materials and financials trumping projections by the widest margin.
"Energy had 72% upside surprises so far. However, when you start looking at dollars, the disappointments tended to be the big ones, so the sector as a whole fell short," said Blood.
Revenue is on track to be down nearly 17% from the prior year, with health care the only one of 10 sectors to post positive revenue growth.
While the second-quarter earnings season is drawing to a close, market watchers are still waiting on results from retailers - in particular specialty stores, Blood said.


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Four automakers are jumping for joy after reporting sales numbers from November. Toyota, Honda, Suzuki and Nissan all posted gains during the month, as pent-up demand drove sales.
Toyota's sales reached 161,695 units in November, up 17.2 percent compared to November 2011. Representatives do admit, however, that the numbers are slightly juiced, even though secretly they're still dancing a jig.
"Replacement of vehicles damaged or destroyed by Hurricane Sandy is partially responsible for strong sales," said Bill Fay, Toyota group vice president and general manager. "However, pent up demand, record low finance rates and exciting new products are also driving demand. Approximately 40 percent of the vehicles we sell this year will be all-new or significantly updated models."
Honda officials were skipping down the street arm in arm after the automaker posted its highest sales of all time, selling 116,580 units, up 38.9 percent from November 2011. The Honda brand was up 41 percent from November 2011 and its Acura increased 23.6 percent over the same period of time.
Even Suzuki leaders were singing Katrina and the Waves'- Walking on Sunshine, after reporting sales of 2,224 units in November, up 22 percent when compared to November 2011. The strong sales were primarily due to the availability of 0 percent financing for up to 72 months for customers who qualified.
"American Suzuki Motor Corporation is pleased with our strong monthly vehicle sales for November, and we look forward to working with our valued dealers across the country to ensure that remaining U.S. inventory is sold in the coming months," said Freddie Reiss, chief restructuring officer for ASMC, probably in a high pitch singing voice. "Now is a great time for customers to consider Suzuki's attractive financing options and the full commitment to vehicle warranties, parts and continued service in place across our complete range of vehicles."
Nissan also joined the ridiculous sales party after reporting it sold 96,197 total units in November, up 12.9 percent from November 2011. The Nissan brand broke its November sales record, with sales driven by the 20,305 Nissan Altimas sold throughout the month. Arriving fashionably late, Nissan's Infiniti brand posted sales of 6,275 crossovers, a two-fold increase in the amount of crossovers sold in November 2011.

domain: news


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As he hinted at during a conversation with the Standard in December, Townsend proprietor and Anglo alumni Nick Gilkinson is set to open a restaurant this year, atop a four-storey Victorian warehouse in east London. It is set to launch in March.
Called Maene — an old English word meaning public or universal, but which also translates to a sense of community — the launch follows Gilkinson’s success at Townsend, a svelte, modern British restaurant at the Whitechapel Gallery.
The new all-day restaurant will offer something similar, with publicity promising “a celebration of European bistro culture”. Like Townsend, there will be a focus on championing British ingredients.
The fourth-floor space, which sits above a three storey yoga studio called Mission, will comprises a range of dining spaces, from counter-top seats to more traditional banquettes. There will also be a grand, 18-seater sharing table, a semi-private dining room, a cocktail bar and a terrace with views that, according to the press release, look out “over the city skyline”.
The space is being designed by partners FareInc, perhaps best known in London for Kolomba in Soho, for which they were critically acclaimed.
Gilkinson sounds enthralled by the potential of the new space, saying: “The bones of the building are so beautiful and I wanted to make sure we kept the integrity of the space whilst adding some softer touches to it, so it feels like somewhere that people want to be, a place for the community.”
Full details on the menu are scant but smaller, more affordable plates will include Mersea oysters with pickled Jalapeno and allotment fritto misto with smoked chilli aioli, priced at at £4.50. In a similar vein to Townsend, the larger plates will be priced around the £30 mark and include La Latteria Stracciatella, made with pickled squash and “yesterday’s bread” — or, in less twee terms, whatever’s left over from the day before — and Springfield farm chicken with rosemary, garlic and burned lemon, with a green goddess sauce.
Gilkinson describes the food as “fresh”, “creative” and “unfussy”. He goes on to say that he wants to ensure they are “placing a real focus on working closely with our suppliers” and to “showcase the best produce possible.”
Whilst the restaurant will open in March, a terrace will follow for al fresco eating come the summer.
Mæne will open in March at 7-9 Fashion Street, E1 6PX. For more information, follow @maene_restaurant


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The next major iOS upgrade could be checking your health in more ways imagined.
Apple Inc. will refund approximately $32.5 million to consumers following complaints of accidental app downloads by children without the parent's discretion.
Microsoft's Windows Phone platform encountered the highest percentage growth in the latest smartphone operating system market share figures in Australia.
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A few Oregon students from China have been charged in a fake iPhone return order that allegedly net them nearly a million dollars.
The couple, Yangyang Zhou and Quon Jiang, are alleged to have sent fake iPhones back to Apple and claimed they did not work. When the tech giant sent a new legitimate replacement phone, the couple would sell them to a broker – usually overseas, according to a federal complaint filed in U.S. Pat. District Court in Oregon last month. Both students would get a cut of profits, federal prosecutors claim. All sales were made online.
Zhou was a student at Oregon State in Corvallis, Oregon, while Jiang attended Linn Benton Community College in Albany, Oregon. Both participated in legal foreign student visas.
Jiang, who took the lead in the scheme, was accused of trading fake goods and filing cheats, according to the documents, while Zhou is facing a charge of making false or misleading claims for an export declaration. Jiang can face as much as 30 years in prison and $ 2 million in fines if convicted. Zhou is facing a $ 1[ads1]0,000 fine and a maximum of five years in prison.
The Oregonian was the first to report the scheme.
The survey started two years ago, in April 2017, when the authorities in Portland were tipped for a shipment of counterfeit iPhones by the US Customs and Border Protection, according to the application.
There were 216 guarantee certificates from Zhou, or addresses associated with him, while Jiang's challenging 3,069 warranty claims were filed. The nearly 1,500 successful claims cost Apple a total of $ 895,800, according to the court.
Despite the successes, approx. 1,600 warranty claims rejected by Apple due to suspicion that they were forged or tampered with the filing state.
The two said in an interview with investigators that they would pay friends and family to accept the replacement phones at addresses in China. Even Jiang's mother was involved in the fraudulent scheme, according to investigators.
"Jiang explained that in exchange for his work and efforts, his co-worker in China pays Jiang's mother, who is also a resident of China, who in due time puts the draft into a [bank] account that Jiang can access here in the United States, the court said filing.
Apple never told Jiang iPhones were fake, he said, according to the December 2017 interview quoted in the complaint.
The authorities seized several Apple products from Zhou when he was at San Francisco International Airport and left China in August 2018. The photos on the phone included dozens of small white boxes of Apple product codes and piles of empty cardboard boxes from Apple.
Jiang's lawyer denied comment to The Oregonian, while Zhous's lawyer told the newspaper, "We believe Mr. Zhou will be corrected."


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This is the result of research by Wageningen UR, which studied the taste of 94 tomato varieties using expert taste panels. The tomatoes were also evaluated for their metabolite content, such as aroma volatiles, and for their DNA composition.
When a tomato plant is able to produce the identified enzyme, it converts precursors of the ‘smoky’ volatiles into others which are odourless and tasteless. As smoky tomatoes cannot produce this enzyme, the precursors of smoky volatiles are not converted. In these tomatoes, smoky volatiles can be released upon biting and chewing, giving rise to a smoky aroma.
This new knowledge can help tomato breeding companies to select more specifically for flavour characteristics. The research was performed within the framework of the Dutch Genomics Initiative, Centre for Biosystems Genomics (CBSG).
Tomatoes come in many varieties and sizes. Most supermarkets sell around ten different sorts, many of which are especially popular for their flavour. Because preferences differ, some people choose one variety, while others choose another.
Wageningen UR supports Dutch tomato-breeding companies in developing tomatoes with a good, either new or existing, flavour. Some of the Wageningen scientists study the flavour of tomatoes that are already ‘in the pipeline’ at the breeding companies. This allows these companies to market new varieties with confidence. Other Wageningen scientists look at how and why the flavours of the tomatoes vary.
When taste panels describe the flavour of tomatoes, they use words like ‘sweet’, ‘sour’, ‘mealy’ and ‘tomato aroma’. Whether something tastes good or bad is a matter of preference. But taste experts are in fact able to indicate to what extent tomatoes are ‘sweet’ or ‘sour’. One of the flavour characteristics the experts use is ‘smoky’; a taste that is similar to the typical flavour of smoked cheese, meat or fish. Roughly half of the tomatoes studied were classified as ‘smoky’ by the taste experts. The scientists at Wageningen UR discovered the mechanisms underlying this ‘smoky’ flavour.
The scientists compared the results of the taste experts to their analysis of the components in the tomatoes and discovered that all ‘smoky’ tomatoes contain three types of aromatic volatiles. These volatiles are stored in the fruit after coupling to a double sugar molecule, as disaccharides. While the three resulting components are tasteless by themselves, when a tomato is cut or eaten the stored volatile-disaccharides are quickly cleaved and the aromatic volatiles are released into the air. These ‘breakdown products’ give the tomatoes a ‘smoky’ flavour.
In some tomatoes the three disaccharides are enzymatically coupled to a third sugar molecule and stored as trisaccharides. These trisaccharides cannot be broken down to smoky aroma volatiles when tomatoes are cut or eaten. Therefore these tomatoes do not have a smoky flavour. Thanks to a combination of DNA analyses, gene expression analyses and metabolite analyses, the Wageningen scientists found the gene coding for the enzyme that converts ‘smoky’ disaccharides into ‘non-smoky’ trisaccharides.. In smoky tomatoes the identified gene is ‘cripple’ and no longer codes for a functional enzyme. As a result, the smoky precursors cannot be converted into the non-tasting trisacharides.
The Wageningen scientists hope that the new knowledge on the background of the smoky flavour of tomatoes will help breeding companies take a more targeted approach towards specific flavours.
The results have been published in the scientific magazine Plant cell.Note for the editor
Erik Toussaint | Wageningen University
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The East of England Ambulance Service is facing a cut in funding, after failing to meet response targets. The commissioning group responsible for buying healthcare services in Cambridgeshire and Peterborough, said it would withhold 2 per cent of its contract until standards are met.
The ambulance service last year failed to meet some targets to reach the most seriously ill patients in 19 minutes.
There are just two shopping days before Christmas and the region's retailers are expecting it to be a busy time.
Many of the big high street chains have launched sales in a bid to draw in those last-minute shoppers.
The Grafton Centre in Cambridge says footfall is up on last Christmas.
Disruption on Greater Anglia between Cambridge and Liverpool Street, between Hertford East and Liverpool Street and between Cambridge and Stratford due to overhead wire problems at Cheshunt.
The Royal Institution of Chartered Surveyors says trend of house sales increases was found to be flattest in East Anglia and East MidlandsRead the full story ›


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The automaker aims to rebuild China with its lineup.
In the first quarter, Volkswagen AG outperformed forecasts thanks to increasing shipments and robust demand in the US and Europe, which helped offset declining sales in China.
With a wider selection of products and technologies suited to regional preferences, the company hopes to catch up in China this year.
China’s BYD overtakes VW to become China’s best-selling automaker.
As VW works to cut orders accumulated from months of supply chain disruption, adding pressure on the company and forcing aggressive price cuts for electric vehicles, the company faces the possibility of falling prices for its vehicles. A Tesla Inc.
Although the market as a whole expanded, VW’s deliveries in the country’s biggest market decreased by 15% in the first quarter. To lessen its reliance on one market, the company has taken steps to increase its market share in the US, where it is also in demand.
The business intends to construct a new plant in South Carolina and is also spending €4.8 billion to construct the first battery plant outside of Europe in Canada.


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Fen Bank are delighted to announce that we are holding a fashion show again this year.
Following the success of the show held in 2019, the lovely Janette, who is the manager of our Alford shop is once again organising things, ably assisted by many of the Fen Bank volunteers.
This year it is being held in The Corn Exchange in Alford instead of in the Fen Bank shop. This will allow more space for the show to take place and offer better facilities than were possible in the shop.
Janette said “We know that everyone enjoyed the last event two years ago and we look forward to seeing as many people as possible at this year’s show, which will be bigger and even better.”


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Ad company expands services
AllOver Media an advertising company, has changed its name from AJ Indoor Advertising and recently moved from Carew Tower to Longworth Hall. Its new address is 700 West Pete Rose Way, Longworth Hall 3C.
"Our business has grown substantially over the past few years, and we were running out of the capacity needed to support that growth," said company president David Habisch.
AllOver Media has more than doubled its square footage and will hire one new sales rep, Habisch said.
It is expanding its offerings to include media products such as truck wraps, telephone kiosk ads and gas pump-top placards. Indoor advertising, sometimes called ambient advertising, specializes in highly targeted messages placed in locations such as health clubs, restaurants, restrooms, garage lobbies and retail establishments.
The company has been in business for four years.
Although it is locally owned, it is affiliated with other AllOver Media agencies throughout the country.
Consulting firm gets bigger digs
Larger quarters have attracted a computer-consulting firm from Symmes Township to Loveland. Cincinnati Network Solutions has moved its offices from Montgomery Road to 1007 Cottonwood Drive.
CNS uses network integration services to help organizations understand their computer networks, streamline business processes and improve productivity.
The company, founded about 15 years ago, works with businesses in Cincinnati, Dayton, Ohio, Columbus and Lexington.
"The opportunity presented itself, and we had to jump on it," said CNS president John Reising.
Dental practice moves to Loveland
A dental practice has relocated to Loveland.
The office of Ben Kaseff is now open at 6417 Branch Hill-Guinea Pike. Hours are 8 a.m. to 5 p.m. Monday, 8 a.m. to 6 p.m. Tuesday, 7 a.m. to 2 p.m. Friday and 8 a.m. to 1 p.m. Saturday, but appointments can be made at other times, including evenings and Saturdays, Dr. Kaseff said.
The dentist, who earned his dental degree from the University of Louisville, has been in practice since 1997. His former location was in Montgomery.
Arby's adds Blue Ash store
There's a new Arby's in Blue Ash.
The fast-food restaurant, at 4951 Cornell Road, is the 54th Arby's franchise in the Greater Cincinnati/Northern Kentucky area owned by Restaurant Management, Inc.
"Adding another location in the Greater Cincinnati market continues our ongoing and aggressive expansion strategy," said Michael Howe, president and COO of Triarc Restaurant Group, franchiser of the Arby's brand.
Arby's, which first made its mark by offering roast beef sandwiches in a burger-dominated fast-food world, has expanded its menu to include chicken sandwiches as well as other deli-type sandwiches, curly fries, potato cakes and hot appetizers.
The restaurant is open 6 a.m. to 10 p.m. Monday-Friday, 7 a.m. to 10 p.m. Saturday and 8 a.m. to 10 p.m. Sunday..
Company buys Milford hair salon
R.J.'s Pro's has acquired its second Cincinnati-area Pro-Cuts hair salon.
The Fayetteville, Ohio company now owns Pro-Cuts at 962 Lila Ave. in Milford. The salon has been in business for 10 years.
"My husband, Richard, and I are excited about assuming ownership of the Pro-Cuts shop in Milford," said Billie Jo Borders, president of R.J.'s Pro's. "Pro-Cuts has a proven track record in Milford for providing friendly and professional service, and it has a steady clientele."
The Borders' other Pro-Cuts location is in Mariemont.
Paul Sturiale, Pro-Cuts' director of communications, said the company has more than 200 locations in 12 states and has been honored by Entrepreneur magazine as one of the nation's top franchise companies.
The Milford Pro-Cuts is open from 9 a.m. to 8 p.m. Monday-Friday, from 9 a.m. to 6 p.m. Saturday and from 11 a.m. to 4 p.m. Sunday.
No appointments are necessary.
Lawyer certified in estate planning
Local lawyer Daniel H. McKinney has been certified by the Ohio Bar Association as a specialist in estate planning, trusts and probate law.
Earning the distinction requires that a lawyer demonstrate substantial experience in this specialty area and be recommended by at least five other lawyers.
This is the first time the state has offered this certification.
Of the 225 lawyers statewide who applied for it, 80 were successful.
McKinney is the founder of McKinney & Namei Co., LPA, and head of the Daniel H. McKinney & Associates Tax and Estate Planning Group.
He is a graduate of Ohio State University and Harvard Law School.
Over the years, he has served on and chaired various committees of the Cincinnati Bar Association, including those involving estate planning, trusts, wills and taxation.
E-mail email@example.com or fax 564-6991 with openings, expansions and other news about neighborhood businesses.
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Demand for HDB resale properties continues to soar
Supply may soon be outpaced by demand, according to analysts.
The HDB resale market continues to experience robust sales in January, according to data released by SRX in the HDB Flats Flash Report.
Resale volume in January increased by 30.3% YoY with HDB resale transactions amounting to 2,501, higher than the previous year. This represents a 0.5% increase from December.
According to real estate agency PropNex, there is keen demand for resale flats in the suburban areas. Units are being bought more quickly because they are more affordable than centrally located ones.
Rise in demand also propped up resale prices which saw an increase of 1.7% MoM in January 2021 with Mature and Non-Mature Estates prices increasing by 1.6% and 1.9%, respectively, compared to December 2020.
In terms of room types, three-room, four-room, five-room, and executive prices increased by 2.3%, 1.7%, 1.6%, and 0.6% respectively.
According to Wong Siew Ying, head of research and content of PropNex, they expect HDB resale prices to potentially grow by 3% to 5% whilst sales volume could exceed 25,000 units.
This was seconded by Orange Tee senior vice president of research & analytics, Christine Sun, who said they expect the demand to be sustained in the coming months with prices rising by 2%-5% this year.
However, Sun said the demand for resale flats threatens to outpace supply, as evident by the high subscription rates of recent BTO launches and increasing resale transactions.
Wong of PropNex said the continued market recovery is not without risk.
“Recently, the government has reiterated that it is monitoring the property market closely. We remain watchful of policy risk as any fresh cooling measures will likely have an impact on the HDB resale market, given that HDB upgraders form a sizable demand pool for private homes,” she added.


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July 28, 2009
CDC’s guide to health international online
The U.S. Centers for Disease Control and Prevention's Yellow Book providing useful tips on healthy international travel is available online, officials say.
The updated 2010 edition of the Yellow Book -- nicknamed for its yellow cover -- includes new or expanded The U.S. Centers for Disease Control and Prevention's Yellow Book providing useful tips on healthy international travel is available online, officials say.
Dr. Gary Brunette, managing editor of the 2010 Yellow Book, says the guide is designed to help international travelers prepare for trips and stay healthy while abroad.
The profile of the international traveler is changing. Increasingly, we're seeing older Americans traveling with chronic medical conditions, Brunette says in a statement.
For the first time, the guide has a section on medical tourism -- traveling abroad for medical procedures.
Other new feature of the new edition include:
-- Information on additional diseases such as anthrax and scabies.
-- A discussion on mental health and travel.
-- A section on drug-vaccine interactions.
-- A section on common respiratory infections in travelers.
-- New sections to give readers a sense of what health risks exist at more exotic locations.


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Photo: Ryan Remiorz, The canadian Press
After the transaction with Jean Coutu, the chief financial officer of Metro, François Thibault, had hinted that the company might divest itself of its investment when the time comes.
A week after it announced the acquisition of the Jean Coutu Group, Metro has decided to liquidate part of the investment holdings in Alimentation Couche-Tard, which will allow the grocer to collect 1.55 billion.
The company said on Wednesday, after the market close, that it was to give 11.4 million shares of class A and class B for an amount of $ 650 million to a group led by National Bank Financial and BMO capital Markets. The supermarket chain will also sell, in the course of the next two days, the same number of shares to a subsidiary of the Caisse de dépôt et placement du Québec.
In addition, Couche-Tard has agreed to repurchase, for cancellation purposes, up to 4.37 million of its shares held by Metro for about $ 250 million.
In all of these transactions, the sale price of the shares of Couche-Tard was $ 57,17 $. On the Toronto stock Exchange, the title of Couche-Tard, class B closed on Wednesday at 58,94 $, up 12 ¢.
At the end of these transactions, Metro will own 5.1 million shares with multiple voting rights of the operator of convenience stores and service stations, which represents 3.9% of class A shares and 0.9 % of the outstanding securities. “The shares sold by Metro pursuant to these transactions represent approximately 85 % of the 32 million shares that it held prior to the transaction,” one can read.
In announcing the transaction with Jean Coutu on 2 October, Metro had reported having credit agreements of approximately $ 3.4 billion with three financial institutions to finance the transaction. During a conference with analysts, the chief financial officer of the company, François Thibault, has suggested that Metro may divest itself of its investment, at the time, without giving a precise timetable.
The combined business of Jean Coutu and Metro will generate annual sales of approximately $ 16 billion and operate over 1,300 supermarkets and pharmacies in Quebec, Ontario and New Brunswick.
Metro is investing $ 400 million in Ontario
The giant quebec Metro Wednesday announced a planned investment of 400 million over six years in its Ontario distribution network. This decision will result in an estimated loss of approximately 180 full-time jobs and 100 part-time jobs as of 2021. Metro has indicated that it will provide to people affected by this decision in a series of transitional measures. The company will also modernize its operations to Toronto between 2018 and 2023 by building a new distribution center for fresh products and a new distribution centre for frozen products. The two facilities will benefit from improvements in technology, such as automation.


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Sony Music Japan Website hit by an attack on Tuesday exposing databases using SQL injection techniques, soon after the website for Sony BMG Greece was hacked on Monday.
The attackers said in a note: “This isn’t a 1337 h4x0r, we just want to embarass Sony some more.”
Naked Security reports that no sensitive information like names and passwords were exposed.
Sophos reports that the attack used on Sony Music Japan was quite similar to the one used on Sony BMG Greece and there are two other vulnerable databases functional on the site which may or may not contain sensitive information.
Sony faced a series of smacking this month starting with its PlayStation Network brought down for weeks after hackers stole sensitive information hosted on the platform.
Soon after that, it emerged that a phishing site was found on Sony’s Thailand portal before its attackers managed to breach the company’s Greek website using a similar SQL injection attack.
However, it’s not clear, whether the hackers are able to inject data into the database, or simply access the tables and records it contains.
Sony just can’t seem to get a break to repair the damage or its reputation and make up for its losses from the continuous attacks.
Sony said it is fixing the issue with PlayStation Network in Japan and trying to return the store back to normal operations.


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International Trade Fair Munich Fabric Start covering complete range for women, men, and children-wear is going to launch its next Munich Fabric Start Autumn Winter21/22 from 1-3 September 2020 in Munich. The organizers of the international fabric trade fair are delighted to confirm the launch of trade fair after months of event cancellation.
“As a long-standing partner of the industry, we see it as our personal mission in these challenging times to make Munich Fabric Start and Bluezone the first trade fair for the textile industry after the Covid-19 lockdown. To once again offer the fashion industry a professional platform for inspiration, networking, and collection showcase in Munich,” comments Sebastian Klinder, Managing Director of Munich Fabric Start.
With the specially compiled safety and hygiene concept to reduce the risk of infection, the organizers can ensure compliance with the current state requirements for holding a trade fair. The organizers are referring to the statement issued by the Bavarian state government on 26 May 2020, according to which trade fairs may be held again in Bavaria from 1 September 2020, taking into account the protection against infection.
The spacious Messe München Fairground in Riem has ground-level exhibition halls, numerous spacious entrances and loading gates, as well as ground-level parking spaces in the immediate vicinity of the halls, thus providing optimum conditions for the required flexible capacity and infrastructure. The top priority is the health and safety of all participating exhibitors, visitors, and contributors during the fair.
“These unique times require flexible thinking and actions from all of us, often resulting in bold decisions. We see this exceptional solution as the most viable way to organize a trade fair with an international audience at this scale, at this time in September. We will gladly accept the challenge of bringing our unique Munich Fabric Start flair to the Exhibition Centre in Munich-Riem,” said Frank Junker, Creative Director, Munich Fabric Start.
- Global Textiles2020.08.08CULTURE & COSTUMES OF THAILAND
- Fashion2020.08.06MUSTARD INDIAN LOOK
- Fashion2020.08.06Dazzling Haldi Look
- Fashion2020.08.06MUSTARD MOOD BOARD


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Eidos Changes Game Name
Omikron becomes simply "The Nomad Soul."
In an effort to draw upon its French-developed third-person adventure game's most unique qualities, Eidos has decided to change the name of its PC/PlayStation game, Omikron: The Nomad Soul.
In Europe, Omikron: The Nomad Soul will now be called The Nomad Soul. In North America the title will remain the same, and include Omikron.
"The new title focuses the attention on the reincarnation element of the game, which is probably the most unique part of it," said the Eidos spokesperson.


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Brands sign up for product placement deals
By Ed Owen, campaignlive.co.uk, Thursday, 24 February 2011 08:00AM
Electronic Arts is expected to be among the first advertisers to run product placement on British TV when it becomes possible from Monday.
EA is believed to have brokered a deal to pay for a significant presence during Premier League football matches on Sky Sports.
The games developer is already the official technology provider for the Premier League but fell foul of Ofcom regulations earlier this month for displaying its logo on Sky "in the absence of any editorial justification".
An EA spokesman confirmed the brand were "seriously looking into" the possibility of such a move.
Elsewhere, Thomas Cook’s brand Club 18-30 is expected to announce a product placement deal next week, while ITV is actively pushing This Morning as its first flagship programme to carry product placement.
Media agency sources said that ITV switched its focus from Emmerdale to This Morning after fears of sparking a backlash against product placement in its infancy.
ITV’s Benidorm, produced by TigerAspect, is working with brands at adding them in at post-production stage, according to sources.
Channel 4’s Come Dine With Me is also expected to sign a deal with a leading supermarket while UKTV has confirmed that two of its original shows will feature product placement.
This article was first published on campaignlive.co.uk
- Head of UX & Digital Design Director MCG Associates tax free competitive package, Dubai (Emirate) (AE)
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- KitKat's mocking Apple tweet outperforms Oreo's Superbowl
- Social Media Week: what social media has taught us
- TfL launches selfie campaign to encourage people to get home safely
- Argos releases alien swan song ad
- Branded Content sends messages ads cannot, Diageo boss says
- 13 ways to create a winning print ad


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Apple is taking its security practices up a few notches. In a press release, the company announced three new upgrades to help protect your data and safety, and the biggest user-facing one is support for security keys for two-factor authentication. Now, instead of relying on a code through a prompt or text message, you’ll be able to plug in a USB security key into a device and log into your Apple ID.
Another notable feature is iMessage Contact Key Verification, which helps you prove the person you’re speaking to isn’t lying about their identity. This function is primarily designed for those at heightened risks of having their data breached or being stalked. It allows you and the person you’re chatting with over iMessage to receive automated alerts if an “exceptionally advanced adversary, such as a state-sponsored attacker, were ever to succeed breaching cloud servers and inserting their own device to eavesdrop on these encrypted communications.” You also have the ability to ask for a special code that you and the other person receive in order to verify one another’s authenticity.
The biggest new feature is Advanced Data Protection, a blanket term Apple is using for the addition of encryption throughout iCloud. You’ll have to manually turn the feature on, but assuming you do, you’ll have more areas of your iCloud account encrypted, including photos, notes, and iCloud Backups. Apple says 23 different data categories will be protected, compared to 14 when Advanced Data Protection is off. The company notes that you can’t encrypt your email, calendar, or contacts because they rely too heavily on universal systems to operate.
All of these changes come amid increasing numbers of data breaches all across the world. In Apple’s press release, it quotes a new summary of data breach research called “The Rising Threat to Consumer Data in the Cloud,” published today. “Experts say the total number of data breaches more than tripled between 2013 and 2021, exposing 1.1 billion personal records across the globe in 2021 alone,” Apple said. “Increasingly, companies across the technology industry are addressing this growing threat by implementing end-to-end encryption in their offerings.”
The changes also further push the narrative that Apple is the company who cares the most about your data. In recent years, Apple has taken an aggressive marketing turn in constantly reminding you of how secure your data is when it’s stored on an iPhone, iPad, MacBook, or any other device sporting an Apple logo. From billboards to TV commercials to introducing a toggle for iPhones that literally cost Facebook $10 billion, the company is clearly not screwing around when it says “privacy is a fundamental human right.”
Apple says Advanced Data Protection for iCloud is launching today for those enrolled in the Apple Beta Software Program, while the general public in the US will get it by the end of 2022. Both iMessage Contact Key Verification and Security Keys for Apple ID will land in 2023.
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The company announced in August that it had exceeded $100 million in annual revenue. It has added 100 employees to its workforce this year to bring its headcount to almost 300.
Marketing platform player Fiksu secured $10 million in ‘mezzanine’ debt funding from the Silicon Valley Bank, which it plans to use to expand its business globally and develop its mobile ad technology.
Its Programmatic Mobile Demand Platform, which optimises mobile ad targeting and campaign performance, has driven more than one billion client downloads in the space of nine months.
“This has been a banner year of domestic and international growth, marquee customer wins, and unprecedented revenue milestones for Fiksu,” said Goldman, in a statement.
Mobile app ad tech company Fiksu has lined up $10 million in debut funding from Silicon Valley Bank to continue a global expansion and ongoing development for its “programmatic mobile demand platform.”
The funding comes just after the Boston company announced it had surpassed $100 million in annual revenue and hired Kenneth Goldman as its chief financial officer. The company regularly reports data on the cost of user acquisition in mobile, and it has information from more than 3.3 billion app installs, 4.7 trillion marketing events, and 1.7 billion devices. It programmatic mobile demand platform helps customers deal with mobile ad challenges such as tracking, optimization, media buying, and integration.
Mobile marketing and ad tech company Fiksu announced this morning $10 million in debt funding from Silicon Valley Bank, after a year which saw it hiring 100 new employees, bringing its total headcount to 300, and seeing revenues of over $100 million.
Founded in 2008, Fiksu previously raised $16.7 million over its prior Series A and Series B rounds from Qualcomm Ventures and Charles River Ventures, but it hadn’t taken in additional capital since 2012, according to CrunchBase.
Across its platform, Fiksu has over 2,300 apps it helps to promote through its data-driven mobile ad products which help app publishers and marketers with ad tracking, optimization, media buying, and integrations. It has information assets associated with over 3.3 billion app installs, and has tracked 4.7 trillion marketing events across 1.7 billion devices. Fiksu uses a “big data” and AI-based approach to analyzing mobile ads’ effectiveness with its “Programmatic Mobile Demand Platform,” the company says.
“It’s so rare to see a company get to that level of revenue on a relatively small amount of capital,” Allred said. “The founders are so smart, and they’re building a great team around them as well, including a seasoned finance executive like Ken Goldman.”
Fiksu, a Boston-based mobile ad targeting company, has been quietly growing into what could be one of the next big local marketing companies. Today, it announced that it has received $10 million, in what it is calling mezzanine debt funding (no equity taken most likely), from Silicon Valley Bank.
The company uses a Big Data and artificial intelligence approach to analyzing the effectiveness mobile ads, which it calls its “Programmatic Mobile Demand Platform,” and to help companies better target their mobile marketing campaigns. Some of Fiksu’s clients include Coca-Cola, Disney, The New York Times, and Dunkin’ Donuts, among others.
More recent data from Fiksu shows an adoption curve closer to iOS 5 (the last version you needed iTunes to upgrade to) than to iOS 6 or iOS 7.
If you follow Apple news closely, at some point in the last week you've probably seen the graph above. It's from Apple's Developer Support page, and the company calculates the figure by looking at the iOS versions of devices accessing the App Store. Like Google's analogous developer dashboard for Android, it's meant to give developers a broad look at OS usage so they can use that data to determine which OSes to support with their apps.
After that opening weekend, Fiksu had the iPhone 6 at 1.82% of all iPhones tracked and the Plus at 0.28%. That gives us a ratio of 6.5:1 and implies that roughly 8.7 million of the total were the vanilla 6.
The opening weekend for the iPhone 6 was Apple’s best ever for a new smartphone, with 10 million sold in just three days. But with those initial totals always benefiting from preorders, it typically takes a while before the company is able to double them. Though Apple hasn’t put out any official numbers yet, using data from third parties that track such things, it appears the “second 10 million” iPhone 6 and 6 Pluses are nearly all in the hands of customers. Apple’s rumored goal of delivering 70-80 million iPhones between the launch and the end of the year is moving from abstract to real as the numbers come into focus.
"With increased brand spending will come demands from advertisers for integrated, end-to-end solutions that make large-scale buying easy and provide detailed performance metrics. In addition, the agencies who control the bulk of large brand spending will want to make their advertising purchases in familiar ways, and that means buying audiences—not networks, publishers or clicks," said Craig Palli, Fiksu's chief strategy officer.
Yerday, we provided an in-depth look at how mobile could become the premiere advertising channel. But there's obviously plenty of work to be done. So we asked industry players: What is mobile's big challenge going forward? Here are the seven most-intriguing responses we gathered.
Craig Palli, chief strategy officer at Boston-based Fiksu, believes it is a move many iPhone users have been awaiting.“The biggest complaint among Android fans for years about the iPhone was that it didn’t support Swype-like functionality, which is a highly efficient means of inputting information,” said Palli.
New smartphone apps aim to solve the problem of keyboards causing aching fingers or auto-correct resulting in embarrassing blunders.
The apps replace Qwerty keyboards with alternatives designed to provide better auto-correct and more seamless typing.
“As we’ve seen in past years, anticipation for new Apple devices always curtails mobile marketing spend and app installs as users and app marketers eagerly await the new smartphones,” said Micah Adler, CEO of Fiksu, in a statement.
User acquisition and marketing company Fiksu has released its indexes for the month of August 2014, which seemed to reflect a “wait and see” dynamic for app installs across both iOS and Android devices. In addition, Fiksu found the anticipation for the launch of the iPhone 6, iPhone 6 Plus and iOS 8 lowered app marketing costs, alongside the expected summer holiday slowdowns. This resulted in a Cost Per Loyal User of $1.86 on iOS, down six percent month-over-month, and two percent year-over-year.
Through the first few days of availability, there's a clear winner in terms of popularity -- and it's not the iPhone 6 Plus! Usage of the iPhone 6 has been five to seven times higher than that of the iPhone 6 Plus since the two new models went on sale, according to data collected by Fiksu.
Apple's newest iPhones went on sale on Sept. 19, and for the second year in a row the company introduced two new versions of the handset. Both phones have significantly larger screens than the 3.5-inch and 4-inch screens Apple previously used. The iPhone 6 screen measures 4.7 inches, while the iPhone 6 Plus is a full-fledged "phablet" with a 5.5-inch screen.


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With the trend for staycations showing no signs of abating, this was the question the BBC Business Live team posed to their viewers this week, and who better to answer it than Barefoot’s Cathy Chamberlain.
Love them or loathe them, it was clear that caravans hold an enduring place in the nation’s memories of childhood holidays, and with their increasing versatility, affordability and practicality it’s no surprise caravans are now reclaiming the top spot over tents…. with Brits now spending 15 million nights a year in their ‘home from home’.
Presenter Sally Bundock asked if the trend towards smaller, tear-shaped caravans was cosmetic, but Cathy explained the aerodynamics and compact size make for a stylish and practical consideration over the ‘big boxes’ we all remember from family holidays. And that’s before you factor in the long list of creature comforts they now offer that we all crave during our unpredictable British summers!
Convinced? They soon were. With the cost of a Barefoot Caravan less than half of a traditional campervan, it was clear that the opportunity of buying a new car AND the ideal festival or holiday accommodation made sense for canny Brits looking for ways to make the most of British summer staycations and our vibrant festival circuit.
So it’s clear the image of caravans is changing, and set to overtake glamping as the accommodation of choice of the savvy festival-goers of tomorrow. It’s no longer a case of ‘Born to be mild’ but ‘I am the resurrection!’
To see the whole interview go to BBC i player 26th April – about 15 minutes into the programme.
To find out more, go to www.go-barefoot.co.uk or email firstname.lastname@example.org.


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Disney + exceeds 10 million registered users on the first day of service
In Disney's original streaming service “ Disney + ”, which started on November 12, 2019, the number of registered users has already exceeded 10 million on the first day.
Disney + Sees Extraordinary Consumer Demand with More Than 10 Million Sign-Ups-The Walt Disney Company
Disney + surpasses 10 million subscribers on first day-The Verge
It is a mobile app-related investigation company Apptopia is, the 'Disney + app has been downloaded more than 3.2 million times' reported after, Disney has announced the number of users who have registered to Disney + to service the first day. According to Disney, Disney + has been shown to have more than 10 million registered as paid members, despite the failure on the first day of service. According to The Verge, an overseas media, the number of times the video was streamed on Disney's first day is about 2 million times.
In addition, according to Apptopia, Disney + continued to reign as the number of installations on the App Store throughout the day on the first day. In addition, the fact that Disney + can be linked with other streaming services such as ESPN + and Hulu has also been shown to have affected the increase in both subscribers. According to one source, the number of registered subscribers of services such as Hulu and ESPN + was “notably increased” at the same time as the Disney + service started.
Disney announces a service that allows you to watch 3 streaming services at a monthly fee of 1400 yen-GIGAZINE
As for Disney +, the analyst has announced that “Disney + will acquire 10 million to 18 million registrants in the first year of service launch”, and other research companies have announced that “Before the service started in the United States, “The number of Disney + users has already exceeded 1 million” was also released.
It is clear that Disney's streaming service `` Disney + '' has exceeded 1 million registrants before the service started-GIGAZINE
by Rod Long
Apptopia said in the report, “Comparing Netflix first day downloads with Disney + downloads is difficult. (When the Netflix app was released) Streaming is not like today. Mobile itself wasn't like it is now. (Current situation) The popularity of mobile devices and user preferences are favoring Disney. ”
In addition, Disney said that “There is no plan to disclose Disney + subscriber information in the quarterly performance announcement of Walt Disney Company”, and the number of Disney + subscriber information will be revealed next in early 2020 It is.
in Web Service, Posted by logu_ii


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Noetica – A British company, developing software products for the global contact centre market, has been presented with Best Technology Innovation Award Vendor – Live Agent Support Solution.
The global award was presented in Lisbon, Portugal, by the Global Association for Contact Center & Customer Engagement Best Practices – ContactCenterWorld.
Noetica was only one of two British companies to be recognised by the coveted global awards, which attracts in the region of 2,000 entrants from more than eighty countries each year. Attending the ceremony in Lisbon, Noetica joined winners representing contact centres (both in-house and outsourced), governments and technology suppliers from Indonesia, India, Philippines, Portugal, Saudi Arabia, South Africa, Turkey and the United States.
The global award for Best Technology Innovation – Live Agent Support Solution recognises the way Noetica is transforming how contact centres around the world are approaching outbound management, by using data segmentation to be more precise and proactive in who is called, when and why.
Chief Product Officer & Chairman at Noetica, Danny Singer, was presented with the award. He comments: “We are proud to wave the flag for contact centre technology innovation in the UK. Today, our internationally patented solutions are relied upon by organisations around the world, helping contact centres to transform their voice and dialling capabilities, and improve the quality of interactions and the experience of customers when they engage.”
A Gold Medal Winner and Ranked #1 in the ContactCenterWorld 18th Annual Global Top Ranking Performers Awards for a second time, Noetica won the 2023 regional award in the Europe, Middle East and Africa category earlier this year, progressing to global awards where the company was proclaimed a winner in November.
For more information about the 2023 winners visit: www.contactcenterworld.com/worldawards/award-rankings.aspx?id=d3656f66-b644-4266-af3a-d60b7be63b56
Noetica provides cost effective, high-end contact centre productivity software. Its product range has been refined over its 26 years history, consistently remaining at the forefront of innovation in the contact centre technology space. By combining the rich functionality of its comprehensive agent productivity tools (Synthesys™), advanced outbound technology (SmartBound™) and comprehensive voice platform (NVP™), Noetica provides tailored solutions to suit any contact centre across industries.
Recently, Noetica has been challenging the traditional telephony model and is demonstrably able to provide PBX-free fully featured call centre telephony. The Noetica Voice Platform (NVP™) delivers the expected functionality – ACD, IVR, voice recording, quality management and billing – without the need for an enterprise PBX. Whether in a private cloud or on premise, this call centre pure play integrates seamlessly with Noetica`s Synthesys™ to radically cut the cost of delivering inbound, outbound, and blended telephony.
The company has recently launched a Skills & Ability Based Routing Engine (SABRE™) along two major new ground-breaking technologies for outbound calling: – LPD™: AI-oriented detection of all forms of answering machines or voicemail with high accuracy, no initial pause and 0% ‘false positives’, meaning 0% silent calls. – SNoDrop™: High performance predictive dialler with 0% dropped (abandoned) calls.
For more information visit: www.noetica.com


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1-800-Flowers.com Inc., Westbury, NY, reported record revenue yesterday of $197.4 million for its fiscal 2003 second quarter, up 21.6 percent from the prior-year period.
Net income in the quarter, which ended Dec. 29, was $10.1 million, up from $1.8 million in the prior-year period.
Online revenue rose 25.2 percent to $75.8 million from $60.5 million in second-quarter 2002. Revenue from phone orders increased 21.9 percent to $114 million.
Shares of 1-800-Flowers fell 6.89 percent to $5.95 on Jan. 6 when the company said that it expected Q2 revenue of $197 million, $1 million less than it had estimated last October.
The company said it acquired 1.2 million new customers in the quarter, including 510,000 online. Its database includes more than 10 million customers. Brands include Plow & Hearth, The Popcorn Factory, GreatFood.com, HearthSong and Magic Cabin.


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The final naturally aspirated V12 Ferrari?
We've known for some time that Ferrari plans to launch a hardcore version of its F12 Berlinetta in the near future, but only now have we learned more specific details. According to Autocar, we could see the F12 Speciale (official name or not, we like it) debut next March at Geneva. Like the 458 Speciale, the F12 Speciale could end up being a full-scale production model. The "standard" F12, which is due for a mid-life refresh of its own, will continue to be built alongside the hardcore version. So what's the F12 Speciale's secret sauce?
For starters, it's said to weigh nearly 440 lbs. less than the base model. And, of course, output from its 6.3-liter naturally aspirated V12 has been increased from 730 hp to 760 hp. If true, Autocar correctly points out that this would effectively "elevate its power-to-weight ratio from 447 hp per ton to 531 hp per ton." Translation: The F12 Speciale will surpass the Lamborghini Aventador SV's 485 hp per ton, putting it closer to that of the Porsche 918 Spyder. 0-62 mph could happen in 3.0 seconds or less. Interestingly, the current F12's top speed of 211 mph could actually "be reduced due to increased drag resulting from the aerodynamics package" the F12 Speciale will likely have. Step inside and you'll find a stripped-out interior.
That means no carpets, sound deadening, or satellite navigation. Of course, all of that and more will remain optional. Also expect a tuned suspension and steering, ultra-lightweight wheels, and improved safety and stability systems specifically for better track day use. Folks, this could very well be the last naturally aspirated V12 Ferrari ever. It needs to be more than perfect.


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Avid Bioservices earnings: here's what Wall Street expects
- On September 1, Avid Bioservices will be reporting Q1 earnings.
- Analysts predict Avid Bioservices will release losses per share of $0.040.
- Go here to watch Avid Bioservices stock price in real-time on Markets Insider.
On September 1, Avid Bioservices will present Q1 figures.
1 analyst predicts losses of $0.040 per share as opposed to losses of $0.080 per share in the same quarter of the previous year.
Wall Street is expecting sales of $16.5 million, an increase of 8.20% over the prior year quarter.
With regard to the current fiscal year, analysts forecast a loss per share of $0.090. Last year it was $-0.270 per share. In terms of sales, analysts estimate that the company will bring in $79.0 million in the current fiscal year, compared to $ 59.7 million in the same period last year.
This story was written by Markets Insider's RoboEddy, which automatically writes these stories based on data provided by our partners.


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Saturday, December 13, 2008
Warning: Made in China (2nd Post)
In October, I blogged about how all sorts of products made in China were increasingly susceptible to toxins, most recently-food. Just last week, Hong Kong authorities found trace of melamine again in imported Chinese eggs. This comes a day before the news from TIME Magazine that the avian (bird) flu was found in poultry in the city's markets. This caused a 3-week shutdown of the poultry market (some chickens are sold live in HK) and raised questions of whether the bird flu vaccine was still active. All this makes for an interesting (or deprived?) visit to Hong Kong.


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Yesterday, Microsoft began pushing out a new cumulative update for Windows 10 Mobile that advances the system to Build 10586.71. In the changelog, Microsoft noted that the cumulative update doesn’t bring new features, but it comes with a good number of bug fixes.
It also includes changes to ensure that Windows Phones enrolled in Insider program can continue to receive the future preview builds. The cumulative update for Windows 10 Mobile also includes performance and reliability improvements for users upgrading from Windows Phone 8.1 to Windows 10 Mobile.
It’s worth noting that Microsoft has rolled out a Configuration Update to modify the certificate and allow the devices to receive future flights.
Windows 10 Mobile Build 10586.71 includes Windows Update performance and reliability improvements. The build also makes improvements to the migration process of data profiles and messaging settings when upgrading handset from Windows Phone 8.1 to Windows 10 Mobile Build 10586.71.
Windows will finally update SensorCore API from Windows Phone 8.1 to Windows 10 Mobile during the upgrade. This will allow apps, even fitness apps, to correctly access movement data.
Windows 10 Mobile has been updated to detect SD card correctly and you will notice that File Explorer finally handles the removal of SD card properly when apps or photos are assigned to the memory card.
Microsoft Edge is being updated with under the hood improvements, including support for a better PDF reader.
You can now re-connect to the paired Bluetooth devices and accessories quickly. The update also makes improvements to Cortana and Microsoft Band’s turn-by-turn directions feature.
Settings have been updated for downloading Maps or changing system quick settings.
You will no longer experience DRM music playback issue when reinstalling Groove Music from the app store. Groove Music is getting another change that allows the app to quickly import local song collections.
Windows 10 Mobile finally allows the in-app purchases to work correctly when cellular data is disabled.


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The well-known insider Mark Gurman spoke of how in Apple’s plans there was a need to decrease the amount of acquisitions of its company.
As recently explained by Mark Gurman , a well-known Bloomberg insider , over the last two years Apple has drastically reduced the number of acquisitions, as there is talk of how the company has spent only 33 million dollars in the last year and 169 million dollars in the first months of the current one.
We are talking specifically about much less than the 1.5 billion dollars for the fiscal year of 2020, with various startups that have allowed the giant to improve what has been seen with Siri , Face ID and more, with speed which has shrunk considerably over time.
At the moment we are talking about the acquisition of Credit Kudos and AI Music which are the known acquisitions in 2022 , with Primephonic acquired in 2021, at least as regards those notes of which a specific announcement has been made.
This happens contrary to what we have seen with Microsoft , Google , Amazon and many others, which have found themselves day by day evaluating many acquisitions, while it is not clear if in a while the company will be able to evaluate a greater number of acquisitions in order to flesh out its power in various areas.
- Apple Has Dramatically Slowed Its Pace of Corporate Acquisitions (MacRumors)


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NEW YORK When Jordan Kretchmer, vp of brand at the Current Network, began an agency-selection process, he followed standard procedure: He did due diligence, keeping an eye out for shops well versed in social media, and then chose five to receive an RFP. But a little over a week ago, he had an idea: If social media were going to play an integral role in Current's branding, why not look for an agency on Twitter? If any of the five shops on his list responded, all the better.
Kretchmer put out an update on the short-messaging service that Current, the cable network co-founded by Al Gore and launched in 2005, was "searching for a full service ad agency partner," linking to a longer explanation than the 140-character limit allowed. The catch for the open casting call: Kretchmer would only take responses via Twitter.
The post got passed around the agency community and soon Kretchmer was flooded with shops wanting in on the review. In all, nearly 70 agencies -- including two of Kretchmer's original five -- indicated interest, from shops with a handful of people to top-of-the-line agencies like TBWA\Chiat\Day, BBH and mcgarrybowen.
The TwitteRFP, as it was called, came at a perfect time: Twitter has enjoyed meteoric growth -- not just in user numbers, but in media attention; the ad industry has fully embraced it (Adweek's TweetFreak blog lists more than 100 shops with accounts); and the social-media tactic was a perfect fit with Current, the mission of which is to meld broadcast and user content.
It also brought to the surface long-simmering frustrations, especially among small shops, with the new-business process, which many criticize as overly bureaucratic and opaque. Kretchmer, a veteran of Butler Shine Stern & Partners and Mullen, said he was motivated to try the TwitteRFP by his own negative experiences on the agency side.
"One of the reasons I left the agency world is I was tired of the same formulaic stuff," Kretchmer said. "While this may not get us any different work at the end, the approach is much more fun."
The open process resulted in another unintended consequence: it pulled the curtain back on the lengths agencies will go to win new business, particularly in a brutal economic climate. While initial responses were little more than terse indications of interest, possibly accompanied with a link to Web sites, last week, after Kretchmer expressed his desire to see more creative use of social-media tools, the floodgates opened.
Agencies tried to outdo each other with stunts. One to One Interactive included a brief video clip via 12seconds, a social broadcast tool, and 22squared went one further by hosting a live brainstorming session last Monday on Ustream. Colle+McVoy in Minneapolis bombarded Kretchmer with Twitter messages from employees and supporters. Perhaps the most extreme measure came from Creature, which dispatched a staffer to stand outside Kretchmer's office with a sign directing him to an agency pitch Web site.
Continue to next page →


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ZiiLabs Shows Off Android 4.0 On a 7" Jaguar Tablet
Ever wondered what Android 4.0 would look like on a tablet
? Haven't we all? While the Ice Cream Sandwich flood is only now hitting phones, Google
's vision for a more unified operating system means that ICS will be hitting tablets like crazy in due time as well. To date, we haven't heard too much surrounding ICS on tablets, outside of a few companies confirming that they'll be upgrading their existing units as soon as they can. But ZiiLabs has just shown off Android 4.0 running on a Jaguar 7" reference tablet powered by the ZMS-20 processor, and while the clip is short, the results look great. Have a peek yourself below. Here's hoping we see a lot more of this from a lot more companies soon.


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Samsung and Apple have been duking out a patent lawsuit in various courts around the United States since 2014, but the gavel may have just come down for the last time thanks the Supreme Court refusing to hear Samsung’s appeal.
A ruling in 2016 by the U.S. Court of Appeals for the Federal Circuit ruled that Samsung had infringed on Apple Inc’s patents on features like slide-to-unlock, autocorrect, and quick links by including these features on Samsung phones without Apple’s permission to do so.
This appeal stems from a verdict granted in May 2014 by a jury in a federal court in San Jose that ordered Samsung to pay $119.6 million in damages to Apple for using those features without properly licensing the patents to do so. The ruling was briefly overturned by a court in Washington, but in October 2016 it was reinstated.
Now the US Supreme Court has refused to hear Samsung’s appeal of that ruling. Samsung stated that the original patent court’s judges did not follow proper procedure when deciding the case, but Apple urged justices to leave the judgment in place by stating that Samsung was introducing nothing new or novel in its appeal.


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The packaged beverage category is finally showing signs of life after retailers and manufacturers suffered a slow and declining 2017.
It’s no surprise that a category dominated with sugar-laden soft drinks, fruit juices, and energy drinks has been in decline. A 2016 survey by Mintel found that 84% of consumers claimed a desire to limit their sugar intake was primary decision factor when weighing food and beverage options.
Ready-to-drink coffees, sparkling waters, and better-for-you options have started making up for losses in CSDs as consumers seek healthier alternatives and beverages that offer functional benefits without sacrificing taste. At the 2018 Natural Products Expo East, the formula for new beverage brands was clear: all-natural, low-calorie, slightly fruity, added benefits. Consumers don’t just want it all, they fully expect it.
Here are five shifts from beverage marketers and retailers that are driving growth in this new landscape.
Embracing A Fast-Fashion Approach
Infinite consumer choice is now standard across just about every category imaginable. And in low-investment, low-committal categories like beverage, exploring what’s new comes with little risk. Beverage manufacturers are responding and continue to meet these high expectations with rapid innovation in new products, flavors, formulas, and packaging. Beverage marketers recognize that diversity in their offerings is critical, and they need to have an extensive portfolio of product types and brands that address consumer need states for any given moment.
A recent article by CBX partner and retail expert, Todd Maute, covers the new business models and partnerships being created to meet consumer demand for the new and the niche. According to Maute, “When national chains need new ideas, they’re increasingly turning to these smaller players. Large CPG companies, for their part, are increasingly investing in incubators and startups as well.”
With consumers expecting more out of their beverages than ever, we’ve seen an emergence of hybrid drinks that cross over all different segments of beverages. They offer consumers familiar flavor profiles, nutritional benefits, and fewer calories—and in many cases provide these things naturally. Because while health isn’t necessarily a driver in beverage choices for Gen Z consumers, we’re starting to see them elevate a “lack of unhealthy ingredients” has become a criterion in their selection process.
And these drinks are continuing to gain popularity as more varieties are introduced, directly contributing to this resurgence we’re seeing in the beverage category. When hybrid drinks first emerged on the market, a 2017 Mintel survey revealed that most consumers believed the drinks were more expensive than non-hybrid beverages, and were a marketing gimmick created by brands to make them spend more money on something that didn’t actually have any added value. But the category has seen a significant jump since then—by 2018, 10% of consumers in a more recent Mintel report claimed to be regular hybrid drinkers.
Riding The Growth Of All That’s Grown
Plant-based protein continues to be touted as a healthier alternative to dairy and consumers are buying it—a 2018 report by research firm GlobalData found that there has been a 600% increase in people identifying as vegans in the U.S in the last three years.
In a recent article, Christina Papale, VP of Strategy & Innovation at CBX, stated, “The growth [in plant-based beverages] is driven by consumers who are re-discovering their humanity who also love these new options that science and technology are providing them. They are driven to plant-based for a unique experience, particularly in taste.”
Adding Sparkle To CSDs & Hints Of Flavor To Plain Old Water
While sugary CSDs remain in decline, flavored sparkling beverages are on the upswing. They’re able to provide the fun and refreshment that comes from the effervescence of CSDs without the guilt of sugar or artificial sweeteners. Likewise, lightly carbonated beverages provide greater drinkability but offer a more interesting experience than still beverages.
Additionally, pairing fruit juice with water or tea offers the familiar flavor profiles people love, but with significantly fewer calories than pure juice.
Reinventing The Shopping Experience
If consumers can’t find you, they can’t buy you. With so many new beverages entering the market every day, it can be difficult for consumers to navigate at retail. Brands and retailers alike need to work together to make the beverage shopping experience as seamless as possible.
On shelf, packaging plays a large part in consumer decision making, especially in such a crowded and complex category. A report by Mintel shows almost 33% of new beverage launches from May 2017-April 2018 featured new packaging, an increase of 3.5 percentage points relative to 2013-14. Many brands are quick to dress their packaging with claims like “free from”, “natural”, and “ethical.” But too much verbiage on a package can confuse and discourage consumers, with 13% of them reporting that packaging is often too crowded with information. To maintain the recent uptick in beverage sales, brands are responding to their concerns with more streamlined packaging and graphics, making sure to include only the necessary information in a bold and easy-to-read manner. (read more about trends in packaging design in our three part series, The Golden Age of Packaging.)
In stores, retailers must not only also keep up with these new products and organize them in a clear, logical manner, they need to offer a fresh new experience as well. Even with a smaller footprint, an exciting beverage destination drives foot traffic and distinction for retail brands.
Furthermore, beverage brands and retailers who partner to educate customers across all touchpoints of their journey – from the shelf to mobile devices, across social, digital and linear media – aid in both the discovery and deselection process in ways the drive sales. People want to discover new things, but they also want to be reassured that they’re making a good choice.
The competition is fierce. Tastes are constantly changing. And consumer expectations are higher than ever. But out of this disruption, beverage marketers and retailers are beginning to reinvent the category for a new era.


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“We are on the precipice of a global food crisis.”
That’s according to Goya Foods CEO Bob Unanue, according to a Fox Business report. “Americans will have to tighten their belts and consume less.”
Unfortunately, With Russia pushing deeper into its war, Ukraine farmlands may not be harvested or cultivated this year. That’s a major problem once you consider Ukraine is the second largest shipper for grains, and the biggest exporter of sunflower oil.
Even the Food and Agriculture Organization of the UN just warned, “The vast destruction of crops and infrastructure due to the war jeopardizes food production and food security.”
In fact, you can read more about it, with trade ideas, here.
Along with the potential food crisis, there’s a brewing water crisis.
A water crisis is boiling over.
In fact, out in California, “This is a crisis. This is unprecedented,” said Adel Hagekhalil, general manager of the Metropolitan Water District of Southern California. “We have never done anything like this before and because we haven’t seen this situation happen like this before. We don’t have enough water to meet normal demands for the six million people living in the State Water Project dependent areas,” as quoted by CNN.
So, how can investors tap the crisis?
Look at the First Trust ISE Water Index Fund (FIW), for example.
At $78.87, the ETF is made up of companies that derive a substantial portion of their revenues from the potable and wastewater industry, according to First Trust. Some of its top holdings include Danaher Corp., Agilent Technologies, Xylem Inc., American Water Works Company, AECOM, Mueller Water Products, and Lindsay Corporation.
Or, take a look at the Power Shares Water Resources ETF (PHO)
At about $50, the PHO ETF tracks the Nasdaq OMX US Water Index, which invests in companies that purify and conserve water for home, business and industrial users, says Kiplinger. Some of its top holdings include Danaher Corp., American Water Works Co. Inc., Ecolab Inc., Roper Technologies Inc, and Xylem Inc.
There’s also the Invesco S&P Global Water Index ETF (CGW)
At $49, the ETF has holdings in the top 50 global companies in the water business. Some of its top holdings include American Water Works Co., Xylem Inc., Veolia Environment, Pentair PLC, and Suez SA, for example.
Insider Buying: Dow Holdings (DOW)
Keep an eye on DOW. After a slight pullback from $72 to $67.81, Director Debra Dial just bought 400 shares of the stock for $27,075.
Also, as noted by TheFly.com:
“Argus analyst Bill Selesky raised the firm’s price target on Dow Inc. to $81 from $78 and keeps a Buy rating. The analyst cites the company’s Q1 earnings beat and also raises his FY22 EPS view to $7.33 from $6.42 to reflect its strong recent performance and expectations for continued volume growth. Dow is set to benefit from rising commodity prices, which have led to higher selling prices for its “diverse” set of products.”


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Connected fitness was one of the many trends that popped up during the pandemic. Since gyms were temporarily outlawed, people had to workout from home. Naturally, they loaded up on home workout products. Some of these products, like the Apple Watch (AAPL) or Peloton (PTON) bike, allowed people to link and compare their workout scores with friends. Hence, “connected” fitness.
But, unlike remote work, this work out trend has fallen off significantly. People are now exercising away from home more often, calling the future of connected fitness into question.
Many companies that offer connected fitness products or services have experienced a significant slump in sales. Some have already pivoted their strategy.
Lululemon (LULU) acquired the at-home fitness company Mirror for $500 million during the pandemic’s early stage. This combo mirror/video screen product lets people follow guided workout sessions from home.
Sales of Mirror fell off hard as the pandemic waned. Last year, Lululemon slashed its Mirror sales forecast to $130 million from $275 million. In a bid to drive new signups, the company is now launching a subscription service that will only be available for Mirror owners.
For $39 per month, members will be able to access online content from studio partners, stream new classes weekly, sign up for in-person classes at a discount, and receive discounts on Lululemon products.
The partnership is expected to go live on October 5th.
Peloton Pedaling Onward
Peloton, which sells stationary bikes, treadmills, and fitness classes, was another company that thrived during the lockdowns. Peloton is now forming a strategic partnership in hopes of growing sales.
Pelotons used to be available exclusively on Peloton’s website. Then, they were made available on Amazon (AMZN). Now you will soon also be able to buy Peloton’s Bike, Bike+, Tread and Guide in Dick’s Sporting Goods (DKS) stores around the country. With 700 locations, this should expose many more people to Peloton’s products.
Despite the hard dropoff in sales, it doesn’t seem like connected fitness products are out entirely. Just like one of Mirror’s workout coaches might say, connected fitness just has to battle through the adversity.
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All Aboard The Stablecoin Train — Blockchain Startup Launches “Paxo Standard”
All Aboard The Stablecoin Crypto Train!
As reported by Ethereum World News on September 10th, the Winklevoss Twins, well-known for their entrepreneurial mindset and affection towards crypto, revealed that they would be launching an Ethereum-based token that would be backed by U.S. dollars.
The token, dubbed “Gemini Dollar” by the two, will be a USD-focused stablecoin that will be FDIC-insured by legacy market giant State Street. Many saw this as quite bullish news, as the New York Department of Financial Services (NYDFS) put its regulatory ‘stamp of approval’ on the Gemini Dollar plan, but surprisingly enough, the market didn’t budge one bit.
At the same time, it seems that Paxos, a lesser-known blockchain startup, also got regulatory approval for a similar stablecoin product, as revealed in a tweet (seen below) from the firm that was posted during the wee hours of Monday morning.
Thrilled to announce that today we launched Paxos Standard token (PAX), the world’s first token issued directly by a regulated Trust company. PAX is fully collateralized 1:1 with USD in reserve bank accounts. Find out more here! https://t.co/aaYQThF4oWpic.twitter.com/d7wKxBM8Os
Paxos then issued a press release on the matter, highlighting the token and the firm’s aspirations for the product. Paxos Standard, as the startup named it, is apparently the “world’s first regulated crypto asset,” as these tokens are issued by Paxos’ Trust Subsidiary and are approved and overseen by the NYDFS, the aforementioned governmental body. In a comment on its qualifications for the stablecoin project, Paxos wrote:
As a Trust company, Paxos is a fiduciary and qualified custodian of customer funds, and can therefore offer greater protections for customer assets than any other existing stablecoin. Dollar deposits are always held in segregated accounts at multiple FDIC-insured U.S.-domiciled banks.
As alluded to in the aforementioned statement, the Paxos Standard is fully collateralized one-for-one by USD reserves, allowing its users to obtain “a liquid, digital alternative to cash that is available 24/7 for instantaneous transaction settlement and is fully redeemable.”
The firm’s executive team also expressed their enthusiasm for the project, with CEO & co-founder Charles Cascarilla noting that this new product will have an astounding influence on financial markets, allowing corporations and investors “to transact in a fully USD-collateralized asset with the benefits of blockchain technology and oversight from financial regulators.”
Cascarilla added that Paxos Standard should be seen as a “significant advancement in digital assets,” as such a product will combine the best of both the traditional financial system and a “frictionless global economy.”
Now, more on the details of this new-fangled stablecoin.
According to the aforementioned press release, “verified” Paxos customers will be able to purchase and redeem Standard tokens right on the firm’s website at a 1:1 ratio with U.S. dollar holdings. The amount of Paxos Standard in circulation is the amount of USD held in reserve accounts, so once users redeem their stablecoins for dollars, Standard tokens will be destroyed on the spot.
In an unexpected move, it was added that traders using the ItBit exchange or OTC desk will reportedly be able to exchange their cryptocurrencies for Paxos Standard tokens “instantaneously.” But these stablecoins won’t be limit to this lesser-known exchange, as it was also noted that Paxos Standard can be listed on other “venues” under the ticker symbol “PAX.”
Closing off the release, the aforementioned CEO and co-founder of the firm wrote:
In the current marketplace, the biggest hindrances to digital asset adoption are trust and volatility. As a regulated Trust with a 1:1 dollar-collateralized stablecoin, we believe we are offering an asset that improves on the utility of money.


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You know you’ve arrived when the name of your company becomes a verb, as in, “Google it.”
If you’re like most of the rest of the world, you use Google’s dominant search engine every day to navigate the Internet. Few companies reach the status Google has attained, both in terms of business success and the whole mystique that surrounds this company.
As you may have seen, I was fortunate to host a CNBC special that premiered last week called Inside the Mind of Google. (If you missed it, you can catch it a few more times in December. Click here for the schedule.) I’ve covered a lot of companies in my 20 years in the financial news business, but Google is one of the most fascinating.
A Culture of Innovation
You know the story. This fabled company was the brainchild of two former Stanford University grad students, Sergey Brin and Larry Page. In just 10 years, it has not only dominated the search industry, it has become of the most important technology companies in the world.
Search companies are famous for keeping their algorithms secret, and if they were available, most of us wouldn’t understand them anyway. But beyond the technical success, Google is renowned for its culture, the way it treats its employees and the groundbreaking innovation that is bred in such a culture.


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This January 1 marks the birth of the Regional Comprehensive Economic Union Agreement (RCEP), which will be followed by other smaller regional camps such as the United States-Mexico-Canada and the European Union (EU).
The 15 signatories represent about 30 percent of global GDP and almost the same proportion of the world’s population, all committed to liberalizing trade in the world and avoiding the more general protectionist policies.
In fact, any FTA in which China participates is blind, but it also includes powerful economies such as Japan, Australia, New Zealand and South Korea (only one approval is pending, but it will be done in April).
It was concluded by the 10 members of the Association of Southeast Asian Nations (ASEAN): Brunei, Cambodia, Philippines, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand and Vietnam.
The Great Absence
The force of the agreement may still be high, but at the time of signing it (November 2020), India refused, saying it did not guarantee a balanced trade balance. New Delhi demanded greater market access to goods and services and the protection of its companies against unfair practices.
Another that is not in this new integrating framework is the United States, which withdrew from negotiations shortly after Donald Trump became President (2017-January, 2021) as one of the first steps in its controversial US First policy.
According to analysts, Washington has given Beijing a significant geopolitical advantage in the Asia-Pacific region, in addition to resolving trade disputes between the two countries or resolving potential disputes with other countries.
While the benefits of the RCEP have not been seen from the outset, they see it as a viable “vaccine” for member economies that have been more or less affected by the Govt-19 epidemic.
Some did not rule out the possibility that President Joe Biden would reconsider his predecessor’s decision and bring the United States back to the negotiating table at some point. They point out that India can do the same.
World Trade Center for Gravity
Currently, the United States-Canada-Mexico FDA accounts for 28 percent of world trade; EU, 17.9 percent; African Continental Agreement, 2.9 percent; And the southern general market, 2.4 percent.
The RCEP will be approximately 33 percent, but a study by the United Nations Conference on Trade and Development (Unctad) concluded that this share would increase gradually.
From the outset, the agreement establishes general rules on conventional and e-commerce, investment and intellectual property, and 20 years after it comes into force it removes 90 percent of taxes on general imports.
The signatories wanted to stay away from this liberalization framework, which is seen as a strategy for agriculture and the automotive industry.
According to Unctad, the RCEP will enable its partners to better cope with the economic crisis caused by the Govt-19 epidemic, the timing of which remains a mystery.
In terms of benefits for one or the other, experts believe that in the absence of the US and India, the biggest beneficiaries would be China, Japan and South Korea. Level of utilization of liberalized market.
Some believe that the RCEP will take a long time to show its benefits, but what everyone agrees is that this January 1 will mark the beginning and the end of international trade.
arb / asg
Prinza Latina reporter in Vietnam


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As acções do Facebook, são transacionadas no mercado secundário em leilão e pela primeira vez ninguém quis comprar! A conjuntura económica não pode ser a justificação…
Michael Arrington, reparou neste facto e publicou o seguinte post no seu blog pessoal- Uncrunched:
All this year TechCrunch and others were covering the weekly SecondMarket auctions for Facebook stock. 2.7 million shares, for example, cleared in aggregate the first five auction at prices ranging from $21.01 to $28.26 per share.
The auctions have continued, but there haven’t been the dramatic price increases or decreases needed to trigger the rabid coverage. But today, for the first time I believe, SecondMarket was unable to clear any shares at all in the auction.
The weighted average offer price for this week’s auction was $33.91, roughly in line with the clearing price for last week’s auction. But the weighted average bid price was just $28.15. Zero shares cleared the market, meaning no shares changed hands.
Why? The WSJ article this week pouring cold water on rising startup valuations, and suggesting that venture cash was drying up, was almost certainly the cause. Whether or not there was much truth to the article, things like that can and do freak buyers out and cause them to step back. No one wants to buy at the top of the market.
What really matters is whether or not things pick back up next week or the week after. And whether or not sellers will take lower prices in the $20s to cash out of Facebook.


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There will be a successor to the McLaren P1, but not for “at least ten years” according to sales and marketing boss Greg Levine.
Part of the original P1 project’s brief from its initiation in 2009 was revealed by McLaren last week, stating the car “will maintain its status as the best super sports car the world has ever seen until a successor is built”.
However, Levine played down the significance of the mission statement, saying: “The only way a car like the P1 works is by being exclusive and having a short product cycle. After that, you have to step back from the market for a few years. These sort of launches can only happen every ten years or so.”
Three-quarters of the McLaren P1s that have been fully specced by customers so far include bespoke modifications, although that number is expected to drop to around a third as more orders are logged.
The changes from the standard car range vary from individual paint colour choices to interior modifications. Several customers have also ordered two cars, although no-one has yet ordered more.
“We’ve had 30 or so cars full specced by the customers so far, and the desire to make each car more individual has been noticeable,” said Paul MacKenzie, the head of the McLaren Special Operations division. “Based on experience we expect that figure to come down, but what’s significant is that people want their cars to look different.”
More extreme potential modifications include removing the air conditioning units to shave weight or finishing the bodywork in an unpainted carbonfibre weave.
Around a fifth of all McLaren 12Cs ordered are modified by the MSO division.
Autocar has produced digital books on the McLaren P1 hypercar as well as the F1 and 12C supercars.


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Burger King Worldwide Inc. agreed to acquire Tim Hortons Inc. for about C$12.5 billion ($11.4 billion) in a deal that creates the third-largest fast-food company and moves its headquarters to Canada.
Tim Hortons investors will receive C$65.50 in cash and 0.8025 a share of the combined entity for each share they own, the companies said in a statement today. The deal, which is backed in part by Warren Buffett’s Berkshire Hathaway Inc., values each Tim Hortons share at C$94.05, based on Burger King’s closing price yesterday.
The purchase gives Burger King access to a coffee brand with a cult following, which may help boost breakfast sales. Tim Hortons, Canada’s biggest seller of coffee and doughnuts, also lets Burger Kingget into the grocery business by selling packaged coffees at supermarkets in North America. The new combined business would create a fast-food network with $23 billion in sales, including franchisees, and more than 18,000 restaurants in 100 countries.
“There’s value to be extracted and there are international growth opportunities,” said Will Slabaugh, an analyst at Stephens Inc. in Little Rock, Arkansas. “I think it’s going to be a well-received deal.”
The acquisition also moves the merged entity’s global headquarters to Canada to take advantage of lower corporate taxes. When the companies disclosed the talks on Aug. 24, it heightened debate over American businesses shifting their headquarters to other countries in search of lower corporate tax bills. President Barack Obama criticized the practice in July, and his aides said that the administration would take action to stop the trend.
The merger talks sent shares of both companies soaring yesterday. Burger King rose 20 percent to $32.40, the biggest jump since the stock debuted on the New York Stock Exchange two years ago. Tim Hortons climbed 19 percent to C$82.03, reaching a record high.
3G Capital, the investment firm that owns about 70 percent of Burger King, will convert that stake into roughly 51 percent of the new company. Berkshire Hathaway has committed $3 billion of preferred equity financing, according to the statement, which didn’t disclose terms on the stake. Omaha, Nebraska-based Berkshire won’t participate in managing the restaurant business.
3G, which was co-founded by Brazilian billionaire Jorge Paulo Lemann, joined Buffett last year in a $23.3 billion takeover of HJ Heinz Co. Buffett bought half the ketchup maker’s common stock for about $4.25 billion and invested $8 billion for preferred shares that pay a 9 percent annual dividend and gave Berkshire warrants to buy an additional 5 percent stake.
“3G does a magnificent job of running businesses,” Buffett said in May at his company’s annual meeting in Omaha. “We’re very likely to partner with them, perhaps on some things that are very large.”
Burger King, the second-largest U.S. burger chain, has struggled to boost North American same-store sales and compete with McDonald’s Corp.’s breakfast fare. Buying Tim Hortons would giveBurger King a coffee brand that’s coveted by Canadians, as well as some Americans, to help revamp its breakfast lineup.
Burger King also may be in a position to expand Tim Hortons restaurants in the 98 countries where it operates. There may be supply-chain, marketing and administrative cost savings as well.
Within the new parent company, the two chains will remain stand-alone businesses and maintain their current headquarters. Burger King is run from Miami, while Tim Hortons is based in the Toronto suburb of Oakville.
Daniel Schwartz, Burger King’s chief executive officer, will become group CEO of the merged company, as well as remaining head of the fast-food chain. Tim Hortons CEO Marc Caira, meanwhile, will continue to run that chain. Alex Behring, a managing partner at 3G who has served as Burger King’s executive chairman, will continue in that role for the new global company.
Burger King has lined up $12.5 billion in financing to fund the cash portion of the deal, including $9.5 billion from a debt package led by JPMorgan Chase & Co. and Wells Fargo & Co.
Lazard, JPMorgan and Wells Fargo served as Burger King’s financial advisers, while Kirkland & Ellis LLP, Davies Ward Phillips & Vineberg LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal counsel. Tim Hortons received financial advice from Citigroup Inc. and RBC Capital Markets. Wachtell, Lipton, Rosen & Katz and Osler, Hoskin & Harcourt LLP served as legal counsel.
Burger King said it was committed to Canada and wouldn’t change the way Tim Hortons operates, aiming to reassure consumers that one of the country’s best-known brands wasn’t in jeopardy.
“Our customers, employees, franchisees and fellow Canadians can all rest assured that Tim Hortons will still be Tim Hortons following this transaction,” Caira said in the statement.