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Over the past several months the fashion industry has responded to the ongoing injustices that Black people face in America. Brands and designers have taken it upon themselves to utilize their platforms to create change and spark much needed conversations.
Creating t-shirts and other pieces of merchandise with powerful messages relating to the Black Lives Matter movement has been the primary way for brands to show their solidarity. Kerby Jean-Raymond of Pyer Moss released a “Vote or Die” t-shirt to raise money for Rock the Vote, a non-profit organization dedicated to encouraging voter turnout amongst young people.
This collaboration is one of many under the brand’s new “Exist to Resist” platform which launched in September 2020. This initiative will allow Pyer Moss to partner with various social justice organizations to create limited edition products with 100% of the proceeds going to directly to the organization.
The fashion industry has had to look within its own structure to better understand how it perpetuates racism. The Council of Fashion Designers of America (CFDA) released a statement in early June condemning racism and violence in the country. The organization also provided a detailed breakdown of what they will do as a governing body going forward to promote diversity and inclusion within the fashion industry.
In addition to the changes outlined in the statement, they also declared Juneteenth as a permanent holiday for all CFDA employees.
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Given the deplorable acts of racism and violence that we have seen play out in our country over this past week, our response as an organization was ﬁrst and foremost on our minds and in our hearts. Black people in this country are reeling from years of injustice stemming from institutional constructs such as slavery, segregation, mass incarceration, police brutality and economic and voter suppression. The Black community is experiencing anger and frustration on top of the effects of the global pandemic that has hit communities of color the hardest. Having a clear voice and speaking out against racial injustice, bigotry and hatred is the ﬁrst step, but this is not enough. It is not enough to simply say that we stand in solidarity with those who are discriminated against. We must do something. The CFDA outlines initiatives that will immediately be undertaken to create systemic change within our industry: • The CFDA will create an in-house employment program speciﬁcally charged with placing Black talent in all sectors of the fashion business to help achieve a racially balanced industry. This program will be tasked with identifying Black creatives and pairing these individuals with companies looking to hire. • The CFDA will also create a mentorship program and an internship program focused on placing Black students and recent graduates within established companies in the fashion sector. • The CFDA will implement and make available to our members a Diversity and Inclusion training program. • We will make immediate contributions and take up fundraising activities in support of charitable organizations aimed at equalizing the playing ﬁeld for the Black community such as, but not limited to the NAACP and Campaign Zero – amongst others. We urge each and every member of the CFDA to take stock of their corporate structure to ensure that they have a racially balanced workforce and we challenge the retail sector of the fashion industry to ensure that their roster of brands and their product assortment is representative of the Black talent in our industry. Sincerely, Tom Ford, Chairman Steven Kolb, President & CEO #blacklivesmatter
In a multitude of ways the fashion industry is actively working to combat racism on both a large and small scale. For consumers it’s important to understand the value behind monetarily supporting brands who are not taking from the Black community but are rather giving back and paying it forward.


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Facebook, one of the most popular and well-known social platform is going full swing to push quality videos for its users on its platform as an upgrade. It is to be noted that recently Facebook came up with mid-roll video ads to check if Facebook users go through the entirety of the video content or not. And now testing is done over the use of algorithms to test the quality of video content posted on its platform.
For the same Facebook has been working to make video a central part and as per rumors, it would be creating an app for television boxes such as Apple TV. Facebook has hired MTV executive vice president Mina Lefevre to be its head of development and with its dedicated programming would allow the company to sell ad space in a new area. Making an announcement, MTV executive vice president Mina Lefevre posted on her Facebook profile stating “I have always been drawn to the idea of building something and the idea of being part of the team that helps build Facebook’s original content ecosystem…well, that just seems like a dream!” Friends do share your views on what you think about this new addition by Facebook and hiring MTV Executive Mina Lefevre.
Like and comment if you liked the article…

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President, Cyril Ramaphosa’s address currently prohibits gatherings of more than 100 people, but the rapid growth of, and the number of daily infected South African citizens, has made even less than 50 person capacity events postpone.
Amongst others, here is a list of events that have been postponed until further notice:
Events such as SA Fashion Week have decided to host an online fashion week instead.
While everyone needs to self-isolate as much as possible, let’s all be safe and extra cautious wherever we go and whatever we do. Groove will be back soon, le ska wara!
Written By Bridgette Makhela
Written by: Y


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Sony shares drop 3 pct after turnaround plan
TOKYO (Reuters) - Shares of Sony Corp (6758.T) dropped more than 3 percent on Friday after new CEO Kazuo Hirai mapped out a revival plan to return the consumer electronics maker to profit and compete better with rivals Apple (AAPL.O) and Samsung Electronics .
Some analysts voiced concern that the revival plan, outlined on Thursday, didn't go far enough, as Sony struggles to emerge from four years of losses and regain the innovative flair of its 1980s glory days.
Sony shares were last down 3 percent at 1,482 yen after dropping to 1,474, their lowest since early February.
(Reporting by Chris Gallagher; Editing by Paul Tait)
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Apple Inc will delay the start of production on a larger, 12.9-inch iPad until around September because of problems involving the display panel supply, said a report by Bloomberg News citing people familiar with the company's plans as saying. Full Article
- China backs e-commerce expansion in win for Alibaba, JD.com
- HBO in talks with Apple, Google to launch streaming service - reports
- Huawei, Intel expand tie-up amid China's rising scrutiny of U.S. tech firms
- Judges wary of Apple's claims of phone patent harm by Samsung
- Pee-powered "green" toilet to light up refugee camps
PM Modi to ramp up help for Indian Ocean nations to counter China influence Full Article
Knife-wielding attacker slashes face of U.S. ambassador in South Korea Full Article


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Toyota has released details on its Sienna minivan and full-size Sequoia crossover SUV for model year 2013.
Read This Article
Toyota's father of the Prius says that he's seen what Honda has to offer, and the next Prius will be better still.
The current Toyota Corolla, having been on sale since 2008, is a little long in the tooth and will be replaced with an all-new model by the end of the year.
The Toyota Yaris 3- and 5-door are getting a thorough refresh for the 2012 model year, with Toyota making numerous improvements for the sake of fuel economy, style, and overall livability.


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Austrian energy drink giant has hotly pursued digital ad trends.
Red Bull has handed its media buying and planning account to Carat following a review. The assignment covers both on- and offline media for the energy drink manufacturer's products, events and programs.
The account formerly belonged to Siltanen & Partners in El Segundo, CA. Creative duties remain with Kastner & Partners in Los Angeles.
Red Bull has forged a reputation in recent years for being at the forefront of digital advertising trends. It was among the first to develop a branded widget on Facebook , and was one of Twitter's launch partners for the Promoted Tweets program.
Red Bull has even shown a willingness to experiment with lesser-known social networks: In June, it became the first branded partner for location-based service Whrrl.
“Red Bull is a company we have long admired, and I am delighted they want to work with Carat,” said Martin Cass, president of Carat, in a written statement. “The consumer is at the heart of everything they do, and they execute brilliantly, which matches our approach and the way we are building our agency.”
The Austria-based energy drink maker spent $50 million on advertising last year, according to Nielsen.
On the heels of a fantastic event in New York City, ClickZ Live is taking the fun and learning to Toronto, June 23-25. With over 15 years' experience delivering industry-leading events, ClickZ Live offers an action-packed, educationally-focused agenda covering all aspects of digital marketing. Early Bird Rates expire May 29. Register today and save!
Douglas Quenqua is a journalist based in Brooklyn, NY who writes about culture and technology. His work has appeared in The New York Times, Wired, The New York Observer, and Fortune.
Gartner Magic Quadrant for Digital Commerce
This Magic Quadrant examines leading digital commerce platforms that enable organizations to build digital commerce sites. These commerce platforms facilitate purchasing transactions over the Web, and support the creation and continuing development of an online relationship with a consumer.
Paid Search in the Mobile Era
Google reports that paid search ads are currently driving 40+ million calls per month. Cost per click is increasing, paid search budgets are growing, and mobile continues to dominate. It's time to revamp old search strategies, reimagine stale best practices, and add new layers data to your analytics.
Wednesday, June 10, 2015
12pm ET/9am PT
Tuesday, June 16, 2015
12pm ET/9am PT


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The financial crisis (Wall Street) spread to the real economy (Main Street) in the form of the recession we are currently experiencing. While the recession became noticeable in late 2008, it actually started much earlier. The National Bureau of Economic Research (NBER), which is the official arbiter of U.S. business cycles, dates the beginning at December 2007, yet there are signs of an economic slowdown as far back as early 2006.
Business cycles are easy to see in retrospect from the data. The broadest indicator of economic activity is real gross domestic product (GDP), which is the sum of consumption expenditure (C), investment expenditure (I), government expenditure (G), and expenditures on net exports (NX). Most recessions are caused by a decrease in total expenditure on domestic goods and services. Analysis of the data on changes in C, I, G and NX (see Table 1) enables one to see how economic activity in the U.S. (GDP) has slowed and actually decreased since the beginning of the economic turmoil. Negative changes are highlighted in light blue, while positive changes are highlighted in yellow.
The recession began in the housing market. This is a common feature of post-WWII US recessions, but in this case the cause was not tight monetary policy. Rather, it was the collapse of the housing bubble described in our analysis of the financial crisis. Investment growth in residential housing slowed to near zero in late 2005, before turning negative in the first quarter of 2006. The first quarter of 2006 saw a 3.6% decline, and another 16.6% drop in the second quarter. This double-digit negative slide has yet to come to an end. Residential investment posted a 22.8% decline in the fourth quarter of 2008 and a 32.8% decline in the first quarter of 2009. This acceleration is ominous as most recoveries begin where they started-in the housing market. It’s hard to see a sustained recovery occurring until the housing market stabilizes.
The decline in the housing market spilled over into the labor market in late 2007, as shown in the following two figures. The unemployment rate had bottomed out at 4.4% in October 2006, and remained at that level for fourteen months. It began rising in in December 2007, the same month that employment peaked.
The labor force (i.e. the supply of labor) peaked in October 2008. Over the next three months the labor force declined as ‘discouraged workers’ stopped looking for work and dropped out. Despite this offset, by May 2009 the unemployment rate had reached 9.4%, the highest it has been since 1983
Business investment followed investment in residential housing. Expenditure on equipment and software began a negative slide in the first quarter of 2008 that has continued on to a 33.5% decline in the first quarter of 2009. Investment in non-residential structures saw its first decline in the fourth quarter of 2008. Total investment expenditure is in free fall as of the first quarter of 2009, dropping by roughly 50%.
While consumer spending doesn’t usually precipitate a recession, since it represents seventy percent of total spending, and spending drives the economy in the short term, consumption plays a key role in the duration of recessions. Total Personal Consumption Expenditures began falling in the third quarter of 2008 with a -3.8% change which worsened to a -4.3% change in the fourth quarter. Looking at the components of consumption reveals that the majority of the decline occurred in Durable Goods which turned negative in the first quarter of 2008 and snowballed to -22.1% in the fourth quarter of 2008. The decline in durable goods likely coincides with the slide in spending on houses; when people stop buying new homes, they also spend less on appliances, home furnishings, etc. Non-durable Consumption has also declined beginning in the third quarter of 2008 with a -7.1% change and continuing into the fourth quarter at -9.4%. Non-durable consumption is largely a function of income. As GDP declined beginning in the third quarter of 2008, personal disposable income fell precipitously, bringing down non durable consumption for the next several quarters. The final component of consumption, Services, while dipping slightly negative in the third quarter of 2008 at -0.1% turned positive again in the fourth quarter of 2008 clocking in at 1.5%. Even a small negative decline in Services is a matter of concern as this area of consumption is generally the most resilient to economic downturns. One hopeful sign of recovery is that in the first quarter 2009, total consumer spending increased, driven in large part by 9.6% growth in consumer durable spending.
Despite the severe decline in the housing market, the US economy was kept afloat for nearly three years by growth in exports. During the period from the fourth quarter of 2005 to the second quarter of 2008, export growth averaged nearly 10% at an annualized rate. It was this growth that gave hope during late 2007 and early 2008 that the economy might yet dodge a recession. However as the recession became a global phenomenon, the world demand for American exports waned. In the third quarter of 2008, export growth slowed before dropping 23.6% in the fourth quarter. This drop accelerated in the first quarter of 2008, with another 28.7% decrease.
US import growth peaked in late 2005, turning negative in the fourth quarter of 2007, spreading the decrease in demand globally. As American consumption continues to weaken this also affects the import market, much of which is considered luxuries by Americans. Imports saw their first double-digit negative decline in the fourth quarter of 2008 at -17.5%. This decline has accelerated to nearly 40% in early 2009. While helping to move the US economy into recovery, declining imports increase the harm on the rest of the world.
US government spending has not played a large role in the current recession to date. State & local spending has declined as expected, likely a by-product of weakening tax revenues, especially in states that must keep a balanced budget. The net effect has been modest with total government spending growth averaging 2.7%. A substantial decline in federal defense spending in the first quarter of 2009 caused a noticeable 3.5% decline in total government spending. Hopefully, the effects of the federal stimulus package will become more apparent in the next few quarters.
[ next section: Why is this Recession So Serious? ]


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Soup lovers—rejoice! Time to prep those taste buds and dust off your trusty soup spoon because Savour the Chill is back for its 20th anniversary in Downtown Belleville on Saturday, Feb. 24, 2024 from 12 to 3 pm.
Savour the Chill was started 20 years ago by Brenda Foran as part of Winterfest in the Village. Foran will be one of the judges this year—a full circle moment for her.
“It all started with the planning of Winterfest in the Village 2003. I was asked to come up with a food contest for our downtown restaurants to highlight their businesses in the winter months,” Foran said.
“And here we are over 20 years later, still going strong with this event,” said the former owner of Bren’s Bakeshop & Cafe.
Get ready to savour a variety of soups as downtown restaurants battle it out for the ultimate titles: People’s Choice Award and Judges’ Choice Award.
Pro tip: BYOS (Bring Your Own Spoon) to keep things eco-friendly. Plus, it’s only $3 a cup, so you can taste your way through without breaking the bank!
Here’s the list of participating restaurants and their soup menu:
New this year, the Downtown Belleville District is partnering with the Community Development Council of Quinte (CDC Quinte) and Doc Fest for an extra dose of community fun.
Let’s get souper excited, folks!


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Something that’s fun to do: compare the eyewitness accounts of two different people who went to the National Restaurant Association show this year.
On the one hand, we have the reporter from Nation’s Restuarant News, observing and summarizing as usefully as possible.
Clearly, these two writers have different expectations from their editors, and the AV Club reporter is charged with making her column entertaining; but I think there’s something we can learn from this about communication.
Normal people only use “food words” ironically, or with implied quotes: “Make choices on a touchscreen, and 40 seconds later there’s a customized and kind of tasty cup of ice cream in hand,” she writes. That’s how people talk. With a word like “tasty” held at arm’s length. Meanwhile, our industry reporter talks about a tea company “touting its new flavors.”
Clearly each writer is aware of her audience. But we can see what happens to a writer the closer she gets to the “business” side of the business: she chooses verbs like “touts” and sums up the show like this:
“Responding to consumers’ increasing demand to have their food when and how they want it, foodservice operators walked the floor of the National Restaurant Association Restaurant Hotel-Motel Show in search of better ways to delight their customers. The need for customization was much in evidence.”
Meanwhile the AV Club writer sums up the show with more color:
“Pitches flew about point of purchase machines and streamlining customer service. If anything, though, this year’s NRA show was about bringing fine dining experiences—or at least fine-seeming dining experience—to consumers who have lower budgets.
“That doesn’t mean the restaurant industry is trying to get people to put on nice pants and eat lobster ravioli, but rather that the industry is trying to get jean-clad, burger-eating asses into their seats while still making people feel special.”
Which summary is more accurate? Who knows. We all know the NRA Show is a lot of things to a lot of people.
I only know which writer I’d trust to have an objective view of the show.


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Nintendo is in talks with various partners about developing movies and other video content based on its popular IP. In an interview with the Asahi Shimbun, CEO and president Tatsumi Kimishima says the company needs to invest in video production and wants to be successful on a global scale. Discussions appear to be in the early stages, but Kimishima wants films to be produced sooner than five years away.
It wouldn't be the first time Nintendo has gotten involved in the world of film production; a much-maligned live-action Super Mario Bros. movie came out in 1993, and Japan saw the release of a somewhat more successful Animal Crossing CG-animated film in 2006. Kimishima notes that the Super Mario Bros. project didn't do very well, and says Nintendo is unlikely to pursue live-action films as part of this initiative.
"I can't say 'it'll be Mario.'"
The Wall Street Journal reported over a year ago that Netflix was working on a live-action series based on The Legend of Zelda, but Nintendo denied the report and nothing's been heard on the subject since. When asked whether Nintendo would use Zelda or Mario in upcoming movies, Kimishima said, "We'd like to use IP that is popular with everyone. I can't say 'it'll be Mario' — just that we'll do things that people will be familiar with." The CEO uses similar language to talk about Nintendo's future smartphone games, though it's confirmed that the next two will be based on Fire Emblem and Animal Crossing.
The most pressing launch in Nintendo's immediate future is the upcoming NX console, however, which is coming in March but remains shrouded in mystery. "It's something new," according to Kimishima, who describes it as neither a Wii U or 3DS successor. "The hardware, the software lineup — it's something I think I'd like to be able to play myself for the first time."
Although the console will miss this year's holiday shopping season, the March release date is designed to ensure that there's enough software to play throughout the months following the launch, avoiding the drought that afflicted the Wii U's first year. "[The NX offers] a new style of play, so I think it will have a bigger impact than the Wii U," Kimishima says.


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Mahindra Comviva and Airtel Tanzania have announced that they have jointly won the AfricaCom awards for Airtel Money “Tap Tap” NFC payments service in the “Best Mobile Financial Services” category.
Airtel Money “Tap Tap” NFC Payments, powered by Mahindra Comviva’s mobiquity® Money, allows customers to make fast and seamless payments at merchant POS besides addressing key customer and merchant adoption related challenges. Airtel Money “Tap Tap” NFC payments is a closed-loop NFC payments service that provides a digital medium for paying at merchants and local stores. By facilitating digital payments Airtel Money is helping Tanzania to move towards a cashless economy.
Commenting on the achievement, Isack Nchunda, Marketing Director and Head of Airtel Money in Tanzania, said “Tap Tap is an evolutionary step in merchant payments in Tanzania. By bringing NFC payments’ contactless experience and Airtel’s reach and service on a common platform, Airtel Money Tap Tap ensures fast and seamless payments experience at merchants that are comparable to the best in the world. With ease and convenience of “Tap and Pay” payments delivered, we’ve broadened digital payments’ scope to supermarkets, retail shops, bars, pharmacies, fuel stations. This is a revolution in making as the size of merchant payments is many times the size of P2P payment and digitization helps to bring all of them under a cashless umbrella.”
Srinivas Nidugondi, Senior VP and Head of Mobile Financial Solutions, Mahindra Comviva said, Mahindra Comviva said: “We are happy to win this award and we offer our congratulations to our partners for this big win too. This win will motivate us to create innovative digital payment propositions for the industry and provide customers with a better alternative to cash. Our partnership with Airtel is not only beneficial to merchants and their customers but also helps in furthering the economy as well as driving inclusive growth.”
Airtel Money is one of the leading mobile money services in Tanzania with 5 million customers. By offering an array of mobile money services such as P2P transfer, bill payments, micro-loans, contactless merchant payments, bulk payments and airtime recharge, Airtel Money is digitizing payments in Tanzania and contributing to the vision of a cashless Tanzania.
mobiquity® Money delivers a host of mobile money services that transforms the way consumers save, borrow, transfer and spend money. It is designed to seamlessly integrate consumer touch points with a wide ecosystem of banks, billers, merchants and third-party payment systems, creating a convergence powered by interoperability. Apart from delivering convenience to consumers, the solution enables financial service providers to acquire new customers, create long-term loyalty with existing ones, and seize new revenue opportunities to increase their footprint in the market. mobiquity® Money empowers financial service providers to be agile in their markets, with complete focus on the customers. mobiquity® Money has clocked over 65 deployments in more than 45 countries. It powers three of the top 10 deployments globally and processes 200 million transactions every month amounting to $4 billion.


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Microsoft has announced it will release new software called Phone Companion for Windows 10, as well as new and mobile apps that will give Android and iPhone owners a better experience with Windows 10 and the company’s cloud services.
A new artificial intelligence method called “thought vectors” has Google on the brink of creating computer systems with the capacity for logic, natural conversation, and perhaps even flirtation.
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Israel’s ultra-Orthodox turn to consumer clout
Israel’s ultra-Orthodox community, which has traditionally used violent protests and political clout to push its agenda, is turning to a new tactic to get its way in this overwhelmingly secular society: market power.
The fast-growing community has emerged as a consumer powerhouse, using classic market muscle to drive the development of products catered to their needs, and to push companies to curb practices it finds offensive.
Cell phone companies customize phones for them, food chains operate supermarkets tailored to their tastes, and investment houses are offering “kosher” places for the ultra-Orthodox to park their cash without running up against Jewish restrictions on lending and investing. Threats of a boycott - not violence - led a leading clothing maker to remove billboards featuring scantily clad models from a major highway.
“There’s no doubt” their numbers make them a market force, said Arieh Frenkel, a religious consultant who helps Israeli companies target ultra-Orthodox customers. “They take advantage of their clout.”
The ultra-Orthodox, a community of 700,000 who live in isolated enclaves across the country of around 7 million, are Israel’s poorest sector. About 60 percent of the men do not work, instead pursuing state-subsidized religious studies. In keeping with the religious injunction to “be fruitful and multiply,” ultra-Orthodox families are large, with an average of seven children. Some 60 percent of the community lives below the poverty line.
But that hasn’t stopped the ultra-Orthodox from turning their growing numbers and unique spending habits on food and clothing into market clout.
All major Israeli supermarket chains now have discount operations whose food meets an exceptionally stringent level of religious supervision. Packaging is aimed at large families, offering big volume at lower prices.
Spending also has been driven by a small but growing number of ultra-Orthodox who have pursued lucrative professions like law, accounting and technology. Not only do they spend money, they also expose their communities to a wider world where buying opportunities abound.
“They go to work in Tel Aviv and get ideas of what’s out there,” said Rachely Greenwald, an ultra-Orthodox public relations executive at the Trio advertising firm.
By virtue of their upbringing, the ultra-Orthodox are obedient to religious law and their rabbis - an experience that tends to translate into collective shopping habits, religious commentator Kobi Arieli said.
“The rabbis don’t tell you which pasta sauce to use,” Arieli said. “But when you get used to reciting the same (religious) texts that 1 million other people say every day, you become, willy nilly, part of a herd,” he said.
For marketers, this is an important lesson because they can capture large numbers of people in one go - or alienate them en masse, as several company owners have discovered to their dismay.
The Shefa Shuk discount food chain was boycotted by some ultra-Orthodox for more than a year and a half because the chain’s owner operates a separate convenience store chain, AM:PM, whose hours violate the religious ban on working on the Sabbath. Some rabbis also blocked Shefa Shuk from advertising in ultra-Orthodox communities and newspapers.
The pressure eventually led the AM:PM chain to close some branches on the Sabbath.
Last fall, the FOX clothes chain ditched an ad campaign featuring supermodel Bar Refaeli lying next to a male model, with only a blanket covering her torso. Another ad showed the two locked in a kiss.
The images were replaced by more chaste advertisements. FOX said it replaced the ads after receiving complaints, noting it is “a fashion chain that appeals to the general public and all its sectors.”
The flight schedule of El Al, Israel’s national air carrier, is another case study in the evolving power of the ultra-Orthodox.
In the 1980s, El Al, then state-run, began grounding its planes on the Sabbath and Jewish holidays because religious lawmakers in the governing coalition demanded it. Because of the lost revenue, economic analysts had once expected El Al to resume a seven-day-a-week schedule after it passed into private hands.
But that didn’t happen: Six years after it was privatized, El Al continues to fly a short week. The ultra-Orthodox, a loyal consumer niche, had threatened to boycott the airline unless it signed a pledge not to fly on the Sabbath.
Technology is another area where ultra-Orthodox consumers have left their stamp.
Recognizing the value of cell phones, rabbis reached an agreement with one mobile phone operator to create stripped-down, “kosher” devices filtered to block access to sex sites and other objectionable material. Other cellular carriers were quick to follow.
“Kosher finance” is another hot topic. Jewish law prohibits Jews from collecting interest on loans, so banks have created a way to circumvent this rule. The religious borrower and lender become partners in a “business transaction,” with the borrower paying a set return on investment in accordance with a religiously compliant formula.
The notion of “kosher finance” has also spilled over into the stock market. Investment firms have begun catering to religious investors to meet the mounting demand for stocks and bonds in companies that don’t violate Jewish law. They might avoid companies, for instance, that operate on the Sabbath or produce non-kosher food.
“Profit always has to be the motive,” says Rabbi Aryeh Dvir of Jerusalem, a leading figure in promoting “kosher” investment. But “the objective is that professionals will operate according to religious law.”


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PhonePe gets in principle approval as an Account Aggregator from RBI
National, August 26th, 2021: PhonePe Account Aggregator Pvt Ltd, a fully owned subsidiary of the PhonePe Group, today announced that it has got an in-principle approval from RBI to operate as an Account Aggregator (AA). The licence permits PhonePe to launch its Account Aggregator platform that will enable free and instant exchange of financial data between the Financial Information Users (FIUs) and Financial Information Providers (FIPs) with due consent from customers, in a safe and secure manner. This will help Indian consumers avail financial services in a faster, cheaper and more convenient manner.
Commenting on the development, Rahul Chari CTO and Co-founder of PhonePe said, ”The Account Aggregator licence will allow us to play a pivotal role in shaping the emergent Account Agrregator ecosystem for consent-based financial data sharing. Our AA technology stack will enable any Financial information user (FIU) to instantly retrieve financial information with customer consent from the Financial information provider (FIP). We are looking forward to working closely with all the industry stakeholders to take forward RBI’s vision of driving deeper financial inclusion across the country.’’
PhonePe is India’s largest digital payments platform with over 300 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold and make investments. PhonePe forayed into financial services in 2017 with the launch of Gold providing users with a safe and convenient option to buy 24-karat gold securely on its platform. PhonePe has since launched several Mutual Funds and Insurance products like tax-saving funds, debt funds, international travel insurance and Corona Care, a dedicated insurance product for the COVID-19 pandemic among others. PhonePe also launched its Switch platform in 2018, and today its customers can place orders on over 600 apps including Ola, Swiggy, Myntra, IRCTC, Goibibo, RedBus etc. directly from within the PhonePe mobile app. PhonePe is accepted at 20+ million of merchant outlets across India.


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Trust us, these guys are the real deal.
I've always had a thing for boutique supercar and hypercar companies. These are the guys who take the biggest chances; success is far from guaranteed. Those who do succeed often go on to set new standards and shatter old records. Koenigsegg and Pagani should immediately come to mind. And it's the Geneva Motor Show where determined new companies hope to make lasting impressions. After all, this is the venue where Horacio Pagani first displayed his original Zonda, the C12, back in 1999.
Few believed then the former Lamborghini employee would be where he's at today. This year's show was no different with several new boutique brands on display, all hoping to replicate both Pagani and Koenigsegg's success stories. Apollo Automobil, the company formerly known as Gumpert, was one of them, and it brought its first all-new model, the Arrow. To be clear, the Arrow is built on a new platform separate from the revised and updated ApolloN, formerly known as the Gumpert Apollo. The latter is the Top Gear track and Nurburgring record-shattering beast of a thing from original company founder Roland Gumpert. Never heard of the guy?
Gumpert is a former Audi engineer who led development of the Quattro all-wheel drive system. Unfortunately, Gumpert GmbH filed for bankruptcy back in 2013, but late last year, along with De Tomaso, it was bought by a Hong Kong-based consortium called Ideal Team Ventures. They immediately got to work (Mr. Gumpert still remains head of the company), and the 1,000-hp Arrow is the result. I spoke with Bailey Xu, Managing Director of Apollo Automobil, about the new Arrow and its huge potential. For starters, that 1,000 hp and 1,000 Nm (737 lb-ft of torque) is made possible by an Audi-sourced 4.0-liter twin-turbo V8. Apollo's engineers went a little nuts.
With a 0-62 mph time of 2.9 seconds and top speed of 224 mph, the Arrow is built on a stiff steel frame with an integral carbon monocoque and F22 Raptor fighter jet-inspired body made of carbon fiber. The Arrow that'll go on sale will weigh no more than 1.3 tons, or 2,600 pounds. Do the math for the power-to-weight ratio. Another interesting engineering accomplishment is how the exhaust is located on top of the engine. This will help, among other things, to give the Arrow a deeper, more aggressive exhaust note. The interior design is still being finalized (hence the fully tinted glass), but Mr. Xu said a 2017 launch date is targeted.
Engineering, testing, and production is all done in Germany in a brand new facility staffed by former Gumpert employees. Only around 100 Arrow examples are planned at a price just under 1 million euros each ($1.1 million). Considering the sheer amount of technology and expertise involved, that's a solid deal. Mr. Xu's enthusiasm for the reborn boutique hypercar company was contagious, as was Mr. Gumpert's. The Apollo Arrow is undoubtedly special and the team behind it can't wait to let it loose on the track. So will Apollo join the ranks of Koenigsegg and Pagani as the world's greatest hypercar companies? We hope so. Greatness has to start somewhere and the Apollo Arrow has it in abundance.


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The whispers around the Internet are true! Boston Beer and PepsiCo have joined forces to combine the sweet taste of Mountain Dew and alcohol and it’s called Hard Mtn Dew!
“For 80 years MTN DEW has challenged the status quo, bringing bold flavors and unmatched beverage innovation to millions of fans,” Kirk Tanner, PepsiCo Beverages North America CEO said, according to Craft Brewing Business.
Hard Mtn Dew is expected to be available to the masses starting in early 2022. Its alcohol contents will contain 5%, which is the level of most seltzer drinks, but this drink will contain no sugar making it very popular for hot summer days.
“The fact it has zero sugar is a massive selling point for people who like to enjoy an adult beverage from time to time,” the Daily Caller said about the drink.
PepsiCo has been wanting to create a seltzer that can compete with a White Claw, Truly, or Corona seltzer, and they believe they will be hitting that goal with the Hard Mtn Dew.
— Myles Udland (@MylesUdland) August 10, 2021
Kirk Tanner said, “The Boston Beer Company partnership combines two recognized leaders in our respective industries to address the changing tastes of drinkers and we are thrilled at the opportunity to create Hard Mtn Dew that maintains the bold, citrus flavor fans know and expect.”
According to the deal, Boston Beer will develop and produce Hard Mtn Dew and PepsiCo will set up a new entity to sell, deliver and merchandise the product.


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Flight Control HD [$4.99] won’t be the only Firemint joint to receive a multiplayer update when iOS 4.2 hits the iPad. Real Racing HD [$9.99] will get its own as well, the studio has revealed this morning.
Specifically, this update will usher in four-person competitive races via Game Center across an unspecified number of levels. Currently, as Firemint reminds us in the press release, the game supports up to six-dude local multiplayer via Wi-Fi or head-to-head play via Bluetooth.
Game Center will give Real Racing HD online some structure — once the update hits, you’ll be able to get into games via random matchmaking or join up with friends who’ve bothered to sign up for Game Center and dig Real Racing HD.
iOS 4.2 is slated to hit whenever Apple feels like releasing it later this month, potentially as early as Friday if recent rumors are true. There’s been some new talk since our post yesterday indicating that network AirPrint has been removed from the update, but nothing has been confirmed.


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Soon govt to impose 25% tax on import of wheat: Sources
India is likely soon to impose an import tax of 25% on wheatbusiness Updated: Mar 04, 2017 23:59 IST
India is likely soon to impose an import tax of 25% on wheat, two government sources said on Wednesday, reinstating the tariff after a gap of nearly three months following big purchases from overseas in recent months.
India, the world’s second-biggest wheat producer, lowered the import tax on the grain to 10%from 25%in September 2016 and scrapped the duty on December 8 last year.
First Published: Mar 01, 2017 20:05 IST


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Binance NFT Marketplace Discontinues Service for Polygon in an Effort to ‘Streamline’
Users may get their Polygon NFTs off of the NFT Marketplace on the exchange till the end of the year.
Binance, a cryptocurrency exchange, said today that it would no longer include Polygon in its NFT marketplace.
According to a blog post published on Friday, the largest cryptocurrency exchange in the world explained the move as part of “ongoing efforts to streamline product offerings on Binance NFT Marketplace.”
Decrypt’s request for comment to Binance went unanswered for some time. This comes just after Binance CEO Changepeng Zhao denied Twitter “rumors” that executive had departed the business or that it was closing down initiatives. Also in the same communication was the claim that Binance has been “smooth sunsetting of old products.”
According to the notification made on Friday, Polygon NFTs will be removed from the market at 6am UTC on September 26 and will no longer be available for purchase or listing. Staking LAND NFTs hosted on Polygon for daily The Sandbox (SAND) prizes is also unavailable.
As part of “our ongoing efforts to streamline the products available on Binance NFT Marketplace,” the exchange has announced that NFTs would be delisted as of December 31. MATIC, the fourteenth biggest cryptocurrency by market size, is based on a blockchain called Polygon. CoinGecko reports that the current price of MATIC is $0.54, down 2.4% from the day before.
The decline negated the token’s previous week’s gains. The MATIC price has dropped by 21% from its monthly high, which coincided with the announcement that tokenized Coinbase equities will be added to the network through Backed Finance.


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BY CHRISTINE LEE
Many people have turned to gardening during the coronavirus pandemic, and local greenhouse owners and a master gardener expect that trend to continue.
Philip Keil Jr., general manager of Trail Gardens along Route 901 in Cressona, said house plants, vegetables, even flowers and shrubbery, have been popular. In the past year, he said sales of those items increased, with succulents being particularly popular, especially in the winter months.
With spring around the corner, he expects more sales of plants, as was the case last year when the pandemic hit. At that time, demand went up while the supply went down; however, he doesn’t think that will repeat in 2021.
“That won’t be as bad this year because everyone will be a little bit more prepared,” Keil said.
Keil said gardening is a good activity that is “fun and rewarding” for the entire family.
“With everyone stuck (at home) they are putting more effort and money into their homes and looking for things to do,” he said. “Gardening became very popular.”
Some customers have asked for gardening tips, although he said many people have taken to the internet to find information.
At Silver Maple Nursery along Red Dale Road in West Brunswick Twp., owner Rick Skorupski said he has noticed people buying edible plants throughout the pandemic. The most popular items are heirloom vegetables, such as tomatoes, beans and peppers, as well as herbs, including basil and parsley.
He said herbs have become such a hot item at the nursery that employees are planning to post food and drink recipes that include them on Silver Maple’s Facebook page.
“We get asked about what to use herbs for all the time,” Skorupski said.
Moreover, he has seen customers buy vegetable seeds or plants for their home gardens. They are often adding annual plants, including flowers, around their gardens. Wildlife, not just those doing the planting, can benefit.
“It’s a nice balance,” Skorupski said.
Money received as part of the coronavirus relief aid packages passed by Congress have given people more of an incentive to work in their gardens, too, he said.
‘Peace of mind’
Tom Reed, a master gardener with Penn State Extension’s Schuylkill County office, has also seen the trend. In particular, the number of calls to the office’s garden hotline has gone up, including those taking up the hobby for the first time. The hotline is 570-622-4225.
A webinar Penn State Extension ran last spring, “Victory Garden Reinvented,” was well attended, Reed said.
The surge in gardening at home has included planting flowers and, especially, vegetables.
“Gardening gives people peace of mind knowing their food is coming from their garden,” he said.
He said community gardens are also becoming more popular, pointing to the Schuylkill Haven Community Garden, and more people are going to farm stands, which are common in the county.
He expects the increased interest in gardening to continue this spring.
“I’ve been getting questions all winter about gardening, vegetables and soil testing,” he said. “People really get into it.”
Reed, who has been gardening since he retired from the Navy in 1998, said it is a healthy activity in that it requires physical work, but it also requires time.
“You have to scout the garden to make sure pests aren’t coming in,” he said, noting there are diseases that can destroy some plants. “It really does take a lot of work.”
Contact the writer: firstname.lastname@example.org; 570-628-6028


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The three-pronged deal puts TRON in a truly lucrative marketplace
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Game Protocol is gearing up.
Early Bird registrations have opened for South Korea’s top B2B and B2C games expo G-Star 2018. The B2C side of the event will take place from November 15th to…
Decentraland is going Gangnam-style
GoBlock is poised to become known as one of the newest, oldest games
The partnership promises to create an open, more accessible environment for players and developers
Building a self-sustaining advertising platform


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|News and Events|
The ban on wood products export from Kazakhstan was lifted--http://www.kaznexinvest.kz/en/news/2506/29.03.2013
The ban on wood products export from Kazakhstan was lifted March 29, 2013
On April 6 of the current year the resolution of the Eurasian Economic Board Commission on cancellation of the ban for export of several kinds of lumber to third countries will enter the force. The ban has been in effect since 2005 and included goods from rough wood to woodworker constructions. In May 2012 the issue on lifting of ban was initiated by the KAZNEX INVEST agency upon request of the furniture and wood processing industry enterprises Association of Kazakhstan on the meeting with exporters Council, which was conducted by the Minister of Industry and New Technologies, Asset Issekeshev. Then the Members of the exporters Council have supported the expedience of partial abolishment of the ban to lumber export and have entrusted to the Ministry of Economic Development and Trade to prepare justified opinion of Kazakhstan regarding this issue for making final decision by the Eurasian Economic Board.
The joint work with experts from Ministry of Economic Development and Trade , Ministry of Industry and New Technologies, Ministry of Agriculture, KAZNEX INVEST and the Association of Wood Industry for West Kazakhstan region has allowed to define the list of commodity positions on which the ban ought to be lifted, also the list of commodities regarding which it was proposed to replace the ban for export with export customs duties taking into account the practice of application of manipulations with the codes of Commodities Nomenclature for External Economic Activity by unscrupulous participants of external economic activity. It is worth to note that, the coordinated opinion of Kazakhstan has been entirely taken into consideration and decisions were made by Eurasian Economic Board Commission. In that time the imposing ban on lumber export produced on the territory of Kazakhstan was an reluctant measure aimed at preservation of woodsy massifs. However, it has led to the stagnation of native wood processing.
Since beginning of 2009 the branch has begun to experience financial difficulties due to decreasing volumes of wood products sales. «From the point of view of trade and export stimulating, the ban on export is not the most efficient trade measure. Within the Custom Union, ban on lumber export was applied only regarding commodities originated from Kazakhstan, and its lifting is economically expedient as it has to create conditions for stimulating production growth of non-raw products in the appearance of semi-finished product, finished fabrics from wood and consequent selling of them in external markets. Taking into consideration growing demands of Central Asia countries and Afghanistan, Kazakhstani wood manufacturers will have an opportunity to establish own products delivery to these markets», - commented Anar Berdenova, Director of the Export Development Department of KAZNEX INVEST.


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In the calendar year 2020, the market share of Hyundai Motor India Ltd (HMIL) in the passenger vehicle (PV) segment reached the highest ever—to 17.4% (in wholesale as well as in retail), up from 17.3% in 2019. One of the reasons is HMIL riding the SUV wave. According to industry sources, while in CY2015 SUVs contributed 13.5% to overall PV sales, in 2019 this rose to 25.6%, and further to 29% in 2020. And of the 7.2 lakh SUVs sold in India in 2020, HMIL sold 1,80,237 units. This was led by the Creta (96,989 units) and the Venue (82,428 units), and this helped the company increase its sales share in the overall SUV space from 22.71% in CY2019 to 25.48% in CY2020.
Of the 12 models HMIL sells in India, four are hatchback cars, one electric, three sedans, one in the fleet segment, and three SUVs—and these three SUVs contributed to about 42% total company sales in 2020.
Tarun Garg, director, sales & marketing, HMIL, says that the company’s strategy of launching the new Creta and the new Tucson in 2020, supported by the Venue launched in 2019, as also dozens of variants with different transmissions, engines and fuel options, contributed to growth.
In fact, in 2020, the Creta became India’s largest selling SUV across segments. Not discontinuing diesel engines post-BS6 emission norms also helped. Garg says that, as far as sales of the Creta are concerned, 60% come from the diesel engine variant. “It shows that the demand for diesel vehicles, especially midsize SUVs, is substantial, if a carmaker can offer a good product at a good price,” he says. In certain markets such as Punjab, as much as 79% sales of the Creta are of the diesel engine variant—as also in Andhra Pradesh (76% diesel), in Uttar Pradesh (70% diesel), and in Rajasthan (71% diesel). “Even in the sub-4 metre SUV such as the Venue, 38% sales were of the diesel engine variant.”
The ‘choice’ route
In addition to the pent-up demand and a section of commuters shifting from public transport to private vehicles post-lockdown, what has helped overall sales of Hyundai cars in particular is the sheer amount of choice on offer.
HMIL currently offers hatchbacks, sedans, SUVs and an electric car. As far as fuel options are concerned, it sells seven different petrol engines (four naturally-aspirated and three turbocharged), four diesel engines, two CNG engine options, and one electric. The company also has a wide range of gearbox options: two manual, one iMT, and five automatic (AMT, 6AT, 8AT, IVT and DCT).
“The aim is to be in the consideration set of any Indian buyer for any type of mobility need related to four-wheelers,” adds Garg. “Be it owning a new car or a used car for shared mobility or even subscribing a car, we have an option.”
Customers aren’t downgrading
Garg says that while after the lockdown there was an apprehension that car-buyers may downgrade from feature-rich variants to basic ones, perhaps due to muted economic sentiment and salary cuts, this has not happened. “At least at Hyundai we have seen people are not downgrading. For example, in the new Creta, about 60% bookings went to the variant that has a panoramic sunroof, and even in the hatchback i20 85% of the demand is coming from the Sportz and above variants. It shows that a car is still an aspirational buy and customers aren’t really compromising on features,” he says.
Within the hatchback segment, while the company’s new i20 and even the Grand i10 Nios have seen increasing demand, sales of its entry-level hatchback, the Santro, have not grown at a similar pace—these, in fact, have come down from about 8,000 units per month when the new-generation Santro was launched in late-2018 to about 3,000 units now. Garg says the first-time car-buyer is upgrading to bigger hatchbacks. “In 2015, the compact low hatchback sub-segment contributed to 13.4% overall sales, compact mid 12.5%, compact high 14.8% and compact premium 8.2%. In 2020, the compact premium hatchback sub-segment improved its sales share from 8.2% to 13%, and this shows that more and more customers now prefer compact premium hatchbacks over entry-level hatchbacks.”
Hyundai SUV sales 2020
Kona EV: 223
Market share of Hyundai in SUVs
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Microsoft installed a gigantic Windows Phone in New York’s Herald Square Monday to mark the debut of Windows Phone 7.5 devices on store shelves.
In World Tech Update this week: Wikileaks' Assange loses his appeal, Amazon offers free books, HTC ranks as the top smartphone vendor, and more.
IBM’s Watson may not be eligible for cash prizes, but the trivia-savvy computer has beaten a trio of Harvard Business School contestants in a mock 'Jeopardy' competition.
China has built its first supercomputer based entirely on homegrown microprocessors, a major step in breaking the country's reliance on Western technology for...
The Rover App-Controlled Spy Tank is a new addition to Brookstone's line up of WiFi-controlled toys.
Nokia launches two Windows Phones, Sony buys Sony Ericsson, Amazon boosts Kindle Fire production, and more.
In World Tech Update this week: Apple's iPhone 4S goes global, the PlayStation Vita gets a launch date, Donald Trump digitally signs an e-book, and more.
Macworld's Jason Snell talks with the iPhone 4S's new Siri technology.
This week's World Tech Update takes a look back at the life and legacy of Apple chairman and co-founder Steve Jobs.
Apple fans create a makeshift memorial at the Ginza Apple Store in Tokyo.
Outside of the Apple Store in downtown San Francisco, CA, technology fans talk about how they'll miss Steve Jobs.
Steve Jobs, the Apple co-founder who resigned from the company in the mid-1980s and returned a decade later to make Apple one of the most successful technology companies in the world, has died.
Articles by IDG News Service


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Somfy Zigbee Products Gain Apple Home Certification
Somfy has recently announced an integration and certification with Apple Home, which will create a union between Apple Home and supported Zigbee motors, that power interior window applications, and the TaHome switch.
Zigbee 3.0 technology has been globally adopted as a secure IoT solution for connecting smart home devices to a consistent network. The TaHome switch controls the certification which provides a secure way of controlling Somfy-powered motorised window coverings via the Apple Home app.
The Apple Home controls allow for precise adjustment of shades, and automation that makes management hands-free.
Somfy are offering direct integration into five smart home ecosystems; Apple Home, Amazon Alexa, Google Home, Samsung SmartThings, and IFTTT.
There are a large range of functions possible via the TaHome app, which is currently available for all devices. It enables users to control the smart home shades through a connected interface, allowing for shade movement through voice command.
The interface is customisable and users can add devices, scenes, or rooms catered to preferences, as well as planned controls based on scheduled actions.


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Work on the fit out of Royal Mail's new north west parcel hub has started.
Once operational, the Warrington hub, which is the size of 4.5 football pitches, will be able to process more than 600,000 parcels per day and signifies its 'commitment to the Northern Powerhouse' region.
The parcels arriving at the hub will typically comprise items purchased from retailers the evening before, as well as larger parcels more suitable for van delivery.
Close to urban centres like Liverpool and Manchester, the 32,000m Warrington parcel hub is one of three it will build in the UK over five years.
The investment builds on the UK's growing ecommerce market and in particular growing demand for next day delivery and the delivery of larger items.
It will also significantly increase Royal Mail’s capacity to process mail at peak volumes.
Royal Mail said its commitment to a 15-year lease, and fitting out the site’s state-of-the art operation, represents significant expenditure to maintain its presence in the north west.
Under the proposals, Royal Mail plans to relocate its existing North West Distribution Centre (NWDC), currently in Mill Lane, to the new site which is 4.4 miles away.
This is subject to an ongoing consultation with Royal Mail’s people and unions.
The Warrington mail processing centre will continue to operate from its existing site in Orion Boulevard.
Simon Barker, national operations director at Royal Mail said: “This significant commitment to the north west is just one example of how Royal Mail is changing to drive e-commerce growth across the UK.
“This new site - the first of three parcel hubs to be announced - alongside initiatives like accepting e-retail parcels into our network late in the evening, will help us to meet growing demand for next day delivery.
“We are talking to our people who work in and around Warrington and our unions about our proposals for the new site.
"We want to fully involve them in shaping our operations in the North West and helping us to safeguard high quality employment opportunities in our business.”


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Intellectual property theft may not be discussed as much as data breaches that see customers credit card and other personally identifiable information stolen by hackers. But online theftof IP is a growing concern in tech, according to a new survey by Deloitte, Cyberattackers and Your Intellectual Property.
That concern is even higher within the automotive industry, where 64% think it will increase in the next year, and the concern is highest within power and utilities where 69% think it will rise.
Deloittes survey of more than 2,500 professionals encompassed banking and other financial services, retail, wholesale and distribution, travel and hospitality, insurance, Internet, IT and other tech companies.
Of those surveyed, 32% admitted they didnt even know if their own company had suffered IP cybertheft in the past year. Twelve percent said they had certainly suffered IP cybertheft.
One-fifth of professionals suspected employees and other insiders would be most likely to steal IP online. In the automotive industry, one-third of tech professionals suspect cybertheft of IP would be an inside job.
Only 10% of professionals thought cybertheft of IP would be most likely perpetrated by nation-states and only 12% thought it would be most likely perpetrated by activist organizations, despite the popularity of shows like Mr. Robot that popularize that idea.
Intellectual property includes everything from drawings, plans, and employee training materials to a range of trade secrets, internal company know-how, research and development.
Rather than any tangible asset, a majority of a companys value these days is found in its IP, with rare exception.
Across the S&P 500, companies total value consisted of 87% intellectual property and just 13% tangible assets in 2015, according to a report from Ocean Tomo, the IP merchant bank.
Getting over IP theft involves figuring out what company secrets were accessed, by whom and when, where they may have been distributed, how a company, its customers and partners could be impacted by the IP theft, and explaining what happened to investors, while also figuring out what legal action to take, and how to tweak IP to regain a competitive advantage if one has been lost.
For some tech startups, good IP is a deciding factor that leads venture investors to back them. Its also, very often, the secret sauce that brings customers to buy from a startup and not an incumbent industry leader.
Losing IP could be disastrous for early stage tech companies which typically dont have legal protections such as patents granted, and trademarks secured, for everything theyre working on and releasing to the market. So if IP cybertheft actually does increase, startups could be among those most dramatically harmed.


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T-Mobile launches buy one, get one half off promo on Samsung, LG, and Apple phones
Starting today, if you buy a select smartphone from T-Mobile, you can get another for 50 percent off.
T-Mobile’s Half-Off Smartphone Event launches today and will run for a “limited time.” It’s available in stores and through telesales, which you can reach by calling 1-800-866-2453. With the promo, you can buy one smartphone from a group of select devices and get a second phone for half off its regular asking price. The devices that are eligible for the promo are:


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Millions of Americans are actively saving up jewelry, whether it’s engagement jewelry, an anniversary gift, or just another piece to add to their collection. These purchases might be one of the largest of the year, which is why we’re committed to partnering with brands who want to offer their customers a new, responsible way to buy.
Starting today, you can now save up for jewelry purchases with Aurate New York - fine jewelry, born and raised in New York. Female-founded and designed to be worthy of the women who wear it, Aurate focuses on what matters: durable materials, transparent pricing, sustainable production, and tangible giving.
“When we think of sustainable jewelry, it’s more than how our pieces are made. It’s also how accessible they are to customers. That’s why we’re so thrilled to announce a partnership with Accrue Savings, where shoppers can save up and earn rewards toward their Aurate purchase. Accrue is pioneering a new type of sustainable shopping, and we’re excited to offer this payment option to our customers.” Sophie Kahn, co-founder of Aurate.
Customers can choose to save up for their Aurate fine jewelry, and earn cash rewards along the way to make that purchase easier.
“We are ecstatic to partner with Aurate New York Signature. Sophie, Bouchra, and the entire Aurate team have shown immense partnership in helping to spread payment diversity to Americans. I am proud to partner with such an amazing brand that shares our values of sustainability and providing customer-forward payment options”. Michael Hershfield, CEO and founder of Accrue Savings.
Create a free Accrue Savings account in minutes and start saving up for the next quality piece in your jewelry collection!


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Closure's popularity prompts expansion
SEBASTOPOL, CALIF. Innovative Molding Inc., a Sebastopol-based company that designs, manufactures and lines closures, is outfitting its 17-month-old plant in Atkins, Ark., and making plans for future growth.
The company supplies closures in sizes from 28-120 millimeters. The Arkansas plant opened in February 2008 and operates Husky injection presses with clamping forces of 225-400 tons, plus lining machines and other secondary equipment.
We needed this location to make the company more competitive, said Ron Cook, vice president in charge of the plant.
Innovative Molding is known for its lightweight closures, and for its design that allows its closures to stack together, forming logs to protect each part during shipping and storage. The tapered stacking allows the top of the lid to support the weakest part, or skirt, of the closure. Cook attributes the company's need to expand to the popularity of the closure design.
The company added 30 jobs when it opened the new plant, Cook said, but he would not provide details on the company's investment in Atkins.
Innovative Molding's corporate headquarters has been in Sebastopol for more than 25 years. The company has been growing at a double-digit pace for the past three years, according to Rodger Moody, vice president of sales.
If we continue the growth we've shown over the last three years, another plant is probable in the next four to five years, Moody said.
The company's closures are used on packaging for food, pharmaceutical and personal-care products.
Premix buying machine to meet demand
NORTH KINGSVILLE, OHIO Thermoset compounder and molder Premix Inc. of North Kingsville is acquiring a 2,000-ton compression molding machine and expects to bring it up to speed during the third quarter.
Macrodyne Technologies Inc. of Concord, Ontario, built the hydraulic down-stroking press, which has a monolithic frame designed to process sheet molding compound using molds measuring up to 120 inches by 96 inches.
Premix ordered the press to meet demand in its existing markets for construction and residential exterior fiber-reinforced-plastic doors. In addition, Premix is pursuing opportunities in the renewable energy market, including solar and wind applications.
The company already operates 49 compression molding presses of 50-2,000 tons, including a 400-ton Macrodyne, and four injection molding machines of 250-400 tons.
These are challenging times, but Premix remains focused on the future, Tom Meola, Premix president and chief operating officer, said in a news release. After 50 years, our company is emerging stronger and better-positioned than ever, both in terms of our financial strength, technical offerings and manufacturing capabilities.
Premix employs 315 in a 330,000-square-foot facility in North Kingsville. Its wholly owned subsidiary Quantum Composites in Bay City, Mich., employs 20. Quantum, which focuses on engineering structural composites, operates a 50,000-square-foot site.
Pact with Satellite lets Hampel grow
GERMANTOWN, WIS. Thermoformer Hampel Corp. is expanding to meet manufacturing demands.
Hampel recently formed a partnership with Satellite Industries Inc. of Minneapolis and will increase production capacity by adding a new thermoforming machine and 59,000 square feet of manufacturing and warehouse space. Hampel intends to hire 10 more workers and restart a third shift.
We are using this as an opportunity to refocus ourselves and pursue [original equipment manufacturer] customers and expand contracting with the thermoforming side of our business, said Joe Weber, Hampel marketing manager.
Satellite, a privately owned manufacturer of portable toilets, sinks, deodorizers and service trucks, purchased Hampel's line of portable restrooms June 1. Satellite will take over ownership, operation, sales and marketing of Hampel's Global and 1.5 Global portable restrooms, as well as the StyleLite interior hand-washing sink from Hampel.
Hampel will produce all of Satellite's thermoformed parts.
Satellite claims to be the No. 1 supplier of portable sanitation equipment in the world, with customers in 75 countries. With the acquisition, Satellite will now produce six kinds of portable toilets.
With this purchase, we can offer more products and a more complete service, said Doug Loebertmann, vice president of Satellite.
Hampel has 79 employees and nine manufacturing lines, with annual sales of $23.5 million. Located in Germantown, Hampel also makes calf housing, reusable packaging and custom parts.
Copyright 2009 Crain Communications Inc. All Rights Reserved.


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INDIA: M&S to bolster local supply to new stores
UK retailer Marks and Spencer has confirmed reports it is planning to source more products from India to supply its retail operation in the country.
A spokesperson for M&S confirmed a report by livemint.com that the company will increase the amount it sources from India for stores there from 20% to 70% in the next five years.
The story was based on comments by the retailer's India chief executive officer Mark Ashman at the opening of a store in Mumbai.
M&S sealed a joint venture agreement in India with local retailer Reliance Retail last year.
The joint venture plans to open 50 stores in Indian cities under the Marks & Spencer banner in the next five years.
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Media Resources, a major supplier to the sign industry, recently opened its doors to showcase its new Massivit 3D printing technology to the trade press, clients and other sign suppliers. Graphic Arts Magazine Editor-In-Chief Filomena Tamburri covered the event and filed this report:
Sign producer Media Resources, with an 80,000-square-foot, state-of-the-art operation in Oakville, Ontario west of Toronto, is the first in Canada to install the Massivit 1800 3D Printer which uses gel-dispensing printing technology to create hollow and lightweight 3D objects. The acrylic polymer solidifies instantly under LED UV lights, making it possible to produce non-vertical parts, closed objects and more, without the need for support structures. Quick curing also means the device can produce objects at a rate of 14 inches per hour – coming out of the printer ready to be painted or covered in vinyl or deployed indoors or outdoors (though the light weight means printed objects have to be filled with expandable foam, depending on where they’ll be exhibited). Maximum printing size is about 6 feet high by 5 feet wide by 4 feet deep.
The full-day event explored how users can open up new business opportunities by integrating 3D printing into their current production. Attendees saw live demonstrations of the 3D Printing and finishing process, heard fascinating customer testimonials and met with Massivit application experts
Judith Vandsburger, Director of Sales for Lod-Israel-based Massivit 3D Printing Teachnologies, said 3D printing technology will become a $6.5 billion market by 2019, and much of it is currently becoming commoditized. Massivit, she said, is at the beginning of a new adoption curve that promises high margins for applications such as special exhibitions, displays, promotional elements, props and POP displays.
Steve Gallow, President of Media Resources, said he’s had the Massivit 1800 for roughly four months and reports excellent reception and feedback from his clients. “There’s a huge opportunity for this kind of technology,” he said. “People want to touch and play with it, and we’re just scratching the surface of the market right now.”


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Following a merger in June 2022, Syracuse Label, Macaran Printed Products and W.N. Van Alstine & Sons have rebranded under a new group name and corporate identity.
The NextGen Label Group name and logo were unveiled at a company-wide meeting on May 17, 2023. The new brand combines the three operating units under one identity and better reflects the organization’s commitment to its employee owners and the customer communities they serve. At the same time, it delivers on the promise to protect the rich corporate legacies that were brought together during the merger.
The new brand also underscores the company’s commitment to its customers by stressing next generation quality, technology and innovation, exemplified by an expanded press compliment and new innovations in the area of RFID, according to the company. NextGen Label Group will also introduce new internal systems throughout the operation to enhance the overall customer experience.
Customers will not see any changes to the day-to-day operations of the organization. All sales, service and accounting procedures and contacts will remain intact. The brand names of Syracuse Label, Macaran and Van Alstine will continue to be used in the market. The new NextGen Label Group name and logo will be rolled out on different platforms and communications throughout the remainder of 2023.


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Microsoft will sponsor a free Xbox Live Gold weekend in North America Oct. 4-6, according to a recent post on Xbox Wire.
During that time, apps like HBO GO and Netflix that normally live behind the Gold paywall and multiplayer gaming will available for all to use in U.K, the U.S. and many other countries, which are listed in the link above. Argentina, Brazil, Chile, Columbia and Mexico will have their Xbox Live Gold weekend Oct. 11-14, while Japan's will take place Nov. 7-10.
Earlier this year, Microsoft announced that Xbox Live Gold subscribers would receive two free games a month, and those who subscribe to the service can download Halo 3 until mid-October. Gold subscriptions will also carry over to the Xbox One, when it launches Nov. 22.


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Don't miss the latest stories
KitKat Reminds Collectors To ‘Have A Break’ With DIY Model Kits
By Mikelle Leow, 16 Jan 2020
Image via KitKat
KitKat keeps reminding fans to “have a break,” but it’s easy to forget to do so. In hopes of spreading its message to everyone, the company chose the small community of model makers and rewarded them with surprise breaks.
The chocolate brand teamed up with digital agency Wunderman Thompson UK and model kit manufacturer Airfix to create The KitKat Kit, an update to Airfix’s ‘Supermarine Spitfire’.
The special plastic kit comes with a KitKat bar attached on a 3D-printed plastic “sprue.” KitKat’s iconic “Have a Break” slogan is also built into the DIY set.
A sweet touch is the “break” placed within the instruction booklet that interrupts hobbyists’ process to remind them to enjoy themselves.
[via Little Black Book, images via KitKat]
More related news
Also check out these recent news


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April Airline On-Time Performance Up, Cancellations Down From Previous Year, March
The nation's largest airlines posted an on-time arrival rate of 79.6 percent in April, up from both the 77.3 percent on-time rate posted in April 2013 and the 77.6 percent on-time rate posted in March 2014, according to the U.S. Department of Transportation's Air Travel Consumer Report released today.
In addition, the reporting carriers canceled 1.1 percent of their scheduled domestic flights in April, down from both the 1.8 percent cancellation rate posted in April 2013 and the 1.9 percent rate posted in March 2014.
The consumer report also includes data on tarmac delays, chronically delayed flights, and the causes of flight delays filed with the Department's Bureau of Transportation Statistics by the reporting carriers. In addition, the consumer report contains information on mishandled baggage reports filed by consumers with the carriers and airline service complaints received by the Department's Aviation Consumer Protection Division. The consumer report also includes reports of incidents involving the loss, death, or injury of pets traveling by air, as required to be filed by U.S. carriers.
A news release on the Air Travel Consumer Report is available at http://www.dot.gov/briefing-room/april-airline-time-performance-cancellations-down-previous-year-march. The full consumer report is available at www.dot.gov/individuals/air-consumer/air-travel-consumer-reports. Detailed information on flight delays is available at www.bts.gov.


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This dates for Apple's annual Worldwide Developers Conference haven’t been officially announced, but that hasn't stopped Siri from spilling the beans.
346 Recent Stories
SoundHound, the company known for its song recognition app, is branching out beyond music with a new voice-enabled assistant app.
After more than a year of Apple teasing its smart home platform, we're finally getting a look at how some of the first HomeKit-enabled products will work with Siri.
Apple has a workaround for the iPhone Messages text crash bug, and it includes its voice assistant, Siri.
If a new report is to be believed, Apple is working on turning Siri into a full-blown Google Now competitor.


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Toyota is voluntarily recalling 373,000 2000-2004 Toyota Avalons because of potential problems with the steering system.
The recall will address an issue with the steering lock bar, a device that typically locks the steering wheel when the vehicle is turned off. Because of an improper casting of the steering lock bar, the component could break under certain conditions. This would cause the steering wheel to lock completely while the car is in motion, increasing the chance of an accident.
Toyota will replace the steering column bracket on affected vehicles at no charge to the customer. This procedure the automaker says should take about two hours to complete. Toyota will notify owners starting in late August to bring their vehicles to their local Toyota dealers.
Although the Avalon shares its underpinnings with the Toyota Camry, no other Toyota or Lexus models are affected by this recall.
For more information, owners can call Toyota at 800-331-4331.


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The central bank of Argentina surprised fintechs this month when it unveiled a crypto ban, in practice forbidding all neobanks in the country from offering trading services.
Repercussions of the regulation, considered harmful for the sector, were immediately felt across the fintech and crypto ecosystem. Cryptocurrency trading is usually one of the many revenue streams digital banks have.
“This forces us to suspend the possibility of operating crypto, where we already have more than 300,000 accounts,” Pierpaolo Barbieri, CEO and founder of neobank Ualá, said in a Tweet. “It hurts.”
According to the new ruling, Argentine digital wallets cannot “carry out or facilitate operations with digital assets, including crypto assets.” The central bank pinned its decision on “mitigating the risks” to the public and the financial system.
The regulation is expected to affect Mercado Pago, in particular, the leading digital wallet in the country. Mercado Libre’s digital bank had already rolled out such a product in Brazil with strong adoption, as did competitor Nubank, each reaching one million customers quickly.
Argentina Crypto: Fintech Industry Rebuffs The Regulation
The adoption of cryptocurrencies and stablecoins is significant in Latin America. Even as the rise in interest rates has sent prices tanking, the collapse of FTX and Signature Bank cast fears over the industry. In countries like Argentina, with 110% inflation, stablecoins are often a refuge for savers.
To be sure, the decision was met with high criticism in the fintech industry. In a press release, the local fintech association expressed its “deep concern and disagreement” with the new regulation.
“If Argentine regulators aim to protect consumers, this latest measure is unlikely to be an effective strategy. This measure could reduce the security of Argentines, who already face significant economic pressures.” Caroline Malcolm, VP Global de Política Pública, Chainalysis, said. “The data is clear: bans or near-bans do not work.”
The Decision Follows A Previous Ban on Argentine Banks
The measure follows an earlier ban that affected banks. Last year, the central bank forbade traditional lenders from offering crypto trading when Galicia, one of the most prominent local players, announced it was ready to launch the tool. With this new disposition, the regulator said, it was providing a level-playing field.
But fintech experts disagree.
“I strongly reject that it is reasonable to bracket (fintechs) with financial entities in terms of prohibitions,” Santiago Mora, a lawyer and fintech head at GPG Advisory Partners, told Fintech Nexus. He said both have “completely different activities, risks, income, costs, and regulations.”
It was understood that pure crypto companies would still be allowed to operate within digital assets’ boundaries if they did not provide payment services. For Mora, however, the regulation has “negative effects” for neobanks and crypto companies. “The restriction has no justification,” he said. “Blockchain technology and digital assets have immense benefits that have not been put into the equation by the central bank.”
Fintech Nexus News


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Input Devices Guide
Accompanying the launch of the iPad Pro is the Apple Pencil, an input device that's packed with a ton of technology, including a logic board that's folded in half.
Razer's Chroma lighting technology has come to the Razer Naga. The new flagship gaming mouse that's designed for MMO games now also comes with a 16,000 DPI laser sensor.
Getting to your emojis as you text your friends isn’t exactly tiresome, but it’s always at least one key too far away. Not anymore, with this keyboard.
A U.S. patent recently points to the possibility of Apple slimming down its MacBook and Mac keyboards by removing the physical keyboard switches and replacing them with Force Touch technology.
Corsair has recently launched two new gaming peripherals that every gamer would want for Christmas: the Strafe RGB Silent mechanical keyboard, and the Katar gaming mouse.
Europe's largest tech event has been showcasing their latest and greatest at IFA 2015. Here are some of the many things that caught our eye.
NVIDIA has brought the GPU Technology Conference (GTC) to the Asia South region, but unlike the earlier conference back in San Jose, the focus of this GTC leaned more towards the enterprise sector, Deep Learning, and the opening of a brand new technology center in the country itself.
Razer has once again brought its Diamondback gaming mouse to the market, this time updated with Chroma lighting. In addition, the company also revived the Orochi Bluetooth mouse and Kraken headset.
Lenovo's series of gaming machines has been updated to support Intel's Skylake processor. There's also a number of new peripherals. Find out more in the link.
In a surprising move, Google is actually allowing their Android Wear smartwatches to be paired with Apple’s iOS devices. Click the link to find out more.


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The European Union (EU) should speed up the recovery of the textile sector by setting the conditions for future competitiveness and resiliency, the bloc’s textile industry body has said.
On the occasion of EU Industry Days, Europe’s flagship annual event on industry, the European Apparel and Textile Confederation (Euratex) says the textile and clothing industry was hardest hit by the pandemic in 2020.
It is, therefore, asking the European Commission and member states to “set the right conditions for the competitiveness and resilience of its industrial base, in particular the textile and clothing industry.”
“The textile and clothing industry is a pillar of Europe with its savoir-faire and excellence, counting 160,000 companies (mainly SMEs), employing 1,500,000 people, generating EUR162bn,” it adds. “38% of such industry’s turnover is sold on global markets, whereby SMEs cover more than 50% of those global sales.”
If the European Commission and member states do not want to lose such asset, Euratex suggests they take a series of measures:
- Europe should put in place effective market surveillance, avoid unfair competition, and guarantee a level playing field. The continent has the most stringent social and environmental standards, and it should protect the quality of its products. We hear too often that products made in other countries do not attain these standards, such is the case of non-compliant face masks, and it is time to act upon it, the body says.
- Europe should support the transition towards a more sustainable and digital industry through specific funds and programmes. Indeed, SMEs, due to their size and capacities, do not have the power to innovate their products and processes in the short-term. Moreover, the sector should reduce future risks by diversifying its supply chains and promoting nearby production. Europe can again play a fundamental role in the development of a new trade policy.
- Europe should have a market-proof approach when moving towards sustainability and a circular economy. The green transition should carefully balance the cost of this transition process and the long-term benefits. The green and digital transition is challenged by the economic crisis. Business and citizens may rapidly loose interest if the transition does not provide any short/mid-term benefit.
- Europe should help education systems and institutes to develop comprehensive and leading-edge T&C knowledge. It can do so through LongLife Learning, Erasmus + and the Pact for Skills Initiative. Our industries suffer from an aging workforce and it is fundamental to reskill/upskill it. Most importantly, the sector should attract young generation to renew itself and drive the change.
- Europe should have a coherent approach when legislating in different areas. All policies, from the Green Deal to the Sustainable Chemicals strategy, from the EU Trade strategy to the EU Industrial one, should be consistent and not hamper industry. If not, consequences will be fatal, Euratex says.
“The forthcoming European Strategy for Textiles represents a terrific opportunity for industry and policymakers to develop a forward-looking vision,” says Dirk Vantyghem, Euratex director-general. “If Europe misses this chance, it risks losing one of the essential ecosystems. Too many sectors will be affected by such loss, as textiles are everywhere, from a car to the street we walk on.”
The European Strategy for Textiles, which sought feedback up to 2 February, aims to help the EU shift to a climate-neutral, circular economy where products are designed to be more durable, reusable, repairable, recyclable and energy-efficient.
It specifically wants to ensure the textile industry recovers from the Covid-19 crisis in a sustainable way by: making it more competitive; applying circular economy principles to production, products, consumption, waste management and secondary raw materials; and directing investment, research and innovation.
The European Commission is looking to adopt the strategy by the third quarter of 2021.


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He was Mustang buyer number one, but she was too
Who was first is often hard to determine, and attempts to settle the question can raise hackles. Whether Ron Hermann was the earliest Mustang buyer – or maybe it was actually Gail Wise – may not be as important as identifying the first European to set foot in the Americas, but some Mustang lovers care deeply. To them, it’s right up there with the question of who was first to the North Pole – Cook or Peary? – or whether Gustave Whitehead flew before the Wright Brothers.
The Philadelphia Connection
Ron Hermann of Warminster, Pa., says he was the first buyer. Although some details are fuzzy after more than 50 years, he does remember that he was 17 years old when Barr Ford of Philadelphia took delivery of a blue Mustang convertible. The car was not available for immediate delivery as it was scheduled for display at local dealerships.
Barr’s general manager, a friend of Hermann’s father, let the teen see the car more than a week before the official introduction date of April 17. He committed on the spot – it was April 8, as he recalls – and put $100 down toward the purchase. For seemingly endless weeks he followed the car from dealership to dealership as it was displayed on a turntable, warning onlookers not to touch his car. The original bill of sale has been lost, but if he actually purchased the car on April 8, he would be the first Mustang buyer. Hermann’s title is dated May 14.
Today, the car has 17,000 miles on the clock and still wears its original tires. It’s a true survivor and a beautiful example of what has come to called a ‘64½ Mustang (though they were officially 1965 models).
The Wise Contender
Gail Wise of Park Ridge, Ill., may have been buyer number one — and Ford agrees. Hermann would contest that, but we can say with some certainty that Wise was first to drive a Mustang on the street.
A recent graduate on her way to becoming a schoolteacher, Wise went shopping for a car with her parents on April 15, 1964 — two days before Lee Iacocca was to unveil the car at the New York World’s Fair. She was disappointed to find no convertibles at Johnson Ford in Chicago. Not wanting to lose a customer, the salesman led her to the back of the dealership to show her something that had just come in.
The new arrival was a baby blue Mustang convertible. It was love at first sight. Wise recalls the salesman said he wasn’t supposed to sell the car, but greed apparently got the better of him, and within hours Wise was driving the streets of Chicago and waving to the car’s admirers. When Iacocca revealed the car to the world two days later, he didn’t know he’d been upstaged by a Chicago schoolteacher.
The first Mustang sold almost certainly wasn’t the first produced. Serial number 100001, the first of the sequence, is in the Henry Ford museum in Dearborn, Mich. But Bob Casey, the museum’s former curator of transportation, doesn’t believe it was first built, reasoning that the first car produced would probably have been a coupe, a less complex vehicle.
In other words, when it comes to automotive production and sales history more than half century old, we only know that we don’t know very much.
For more on Wise and her Ford Mustang, watch this video.


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Sustainable feedstock maker Calysta, AltSchool and Bonsai AI were among this past week’s notable investing deals. Many of the ventures are based in California.
Abundant Robotics – its apple-picking robot promises to reduce the $200 billion orchard farming industry’s reliance on seasonal labor, labor that hasn’t resulted in productivity improvements in the last 20 years despite yield increases. $10 million in Series A from 7 investors. Based in Hayward, California.
Advanced Cardiac Therapeutics – offers a novel catheter ablation, or electrical inactivation, technology with temperature control and high resolution electrogram to treat atrial fibrillation – a type of heart disease that affects 1-2% of Americans today (up to 18 million by 2050, according to projections, figure below). Electrophysiology global market for devices is growing fast (figure above). $45 million in venture funding to now total $69 million from 4 investors. Based in Santa Clara, California.
AltSchool – Zuckerberg-funded private “network of schools” and experimental educational technology, or “edtech,” platform aims to personalize education for children, raised $40 million in Series C to now total $173 million from 25 investors. Based in San Francisco, California.
Bonsai – platform for “machine-teaching” and automating the management of complex machine learning algorithms, Bonsai promises to help developers take advantage of the latest advances in artificial intelligence or AI. $7.6 million in Series B to now total $13.62 million from 7 investors. Microsoft Ventures and Samsung among them. Based in Berkeley, California.
Calysta – this week’s spotlight, is developing a platform for a new sustainable, non-GMO alternative, biological feedstock protein called Feedkind. Its “methane-eating bacteria” based technology could one day feed pets or even people, enabling an $8 billion “biofeed” market in a decade, according to its founder. $40 million in Series D to now total $88 million in equity funding from 8 investors. Based in Menlo Park, California.
Check out Calysta’s carbon footprint report – resulting in up to “98% less water than alternative ingredients including soy and wheat proteins,” and requiring “almost no agricultural land to produce, freeing that land for other food crops.”
Epic Sciences – a developer of blood-based tests that predict drug response in cancer, using a platform it has developed to identify and characterize rare cells including circulating tumor cells (“CTCs”). $40 million in Series D to now total $85.5 million in funding from 13 investors. Based in La Jolla, California.
Grove Collaborative – customized sustainable household products such as soap, laundry detergent, paper towels via its online grocery e-commerce platform. Raised $13.5 million in venture funding (SEC filing). Based in San Francisco, California.
Outset Medical – the medical device and technology startup’s novel “Tablo” hemodialysis system allows patients to “self-serve” and monitor their dialysis treatments independently without relying on medical staff. $76.5 million in Series C to now total $187.5 million from 7 investors including T. Rowe Price Associates. Based in San Jose, California.
Orbital Insight – offers economic recommendations based on its “macroscope” analysis of data collected by satellites. $50 million in Series C to now total $78.7 million from 13 investors. Based in Palo Alto, California.
Paytm – is India’s largest e-commerce platform, with over 20 million registered users, offering mobile recharge, utility bill payments and its Paytm mobile wallet to replace cash. $1.8 billion in new funding from SoftBank ($9 billion valuation). Based in Noita Uttar Pradesh, India.
Other Deals of Note
Apple launches $1 billion fund for advanced manufacturing in the U.S. CEO Tim Cook noted that funding came from the company’s onshore assets rather than the billions it has offshore.
Purdue University has agreed to acquire Kaplan University, the for-profit higher education business of Kaplan Inc., in the process creating a public online university under Purdue, potentially rocking the online education market.


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In recent months, publicly traded wine and spirits companies in the U.S. have delivered shot-glass-sized warnings about the health of the industry and the prospects for recovery.
On Thursday, Diageo
Comparing Diageo -- whose brands include Smirnoff vodka, Captain Morgan rum, and Johnnie Walker whiskey -- to its U.S-based peers can be tricky, and not just because Diageo dwarfs them in market capitalization and geographic reach. The U.S. companies report quarterly. London-based Diageo reports every six months. Its preliminary fiscal-year report, issued Thursday, covers all 12 months of its fiscal year.
And while U.S. companies bemoaned the impact of a strengthening U.S. dollar on their quarterly results, Diageo rode the weakening of the British pound to a 15% gain in reported sales year over year. Without the foreign-exchange benefit and the gain from some new brands, Diageo's fiscal-year revenue would have been flat.
The company announced two rounds of cost-cutting in February and July, which should significantly reduce expenses going forward.
Performance versus expectations
Major U.S.-traded wine and spirits companies showed a consistent trend in their most recent quarterly reports. Their earnings per share beat analysts' estimates, but fell below -- sometimes well below -- year-ago periods. The group includes Constellation Brands
Analysts had been optimistic about Diageo. Between early May and Thursday, four investment-banking firms raised their ratings.
However, Diageo's stock skidded Thursday after it unveiled its results, even though the company's profit of 1.62 billion pounds ($2.63 billion) beat last year's 1.52 billion pounds, and edged the consensus forecast of analysts polled by Bloomberg News.
I didn't see any analysts immediately running for cover after Diageo's announcement. Maybe they appreciate a sobering assessment by a wine and spirits company that still appears to be the best-suited among peers to ride out the recession. But if spirits aren't quite your tipple, you might be interested in the increased prospects at big brewers such as Molson Coors
Two fingers of further Foolishness:
Diageo is a Motley Fool Income Investor selection. Fortune Brands is a Stock Advisor recommendation. SABMiller is a Global Gains selection. Try any of our Foolish newsletter services free for 30 days.