text:
An anonymous reader shares a report: When most people think of 5G, they’re envisioning an ultra-fast, high-bandwidth connection that lets you download seasons of your favorite shows in minutes. But 5G’s possibilities go way beyond that, potentially reinventing how we watch video, and opening up a mess of privacy uncertainties. “Right now you make a […]
The China-based phone giant just one-upped Apple and Samsung with some seriously impressive new tech.
In his tweet, the Tesla CEO dubbed the agency “the Shortseller Enrichment Commission.”
Valentina Palladino In unveiling its new leather-covered Spectre Folio, HP claimed that it was “reinventing” the PC. At the risk of being called cynical, I must confess to rolling my eyes somewhat at HP’s grandeur. My skepticism was confirmed when we saw what HP had actually built: it’s a new take on the two-in-one convertible, […]
Enlarge (credit: Google Android) OnePlus continues its trend of getting better and better at updates. Earlier this year, it finally released a formalized update plan for its devices, and now it’s releasing one of its fastest device updates in recent memory. The OnePlus 6 is being updated to Android 9 Pie. This release comes just […]
Enlarge / Lactobacillus acidophilus and L. casei cultured from a commercial probiotic food gel sold in health food stores. (credit: Getty | Scimat) There’s a pungent cloud of hype and hope around probiotics—and researchers have long tried to clear the air about what the bowel-blasting products can ( and mostly can’t) do. Now, a new […]
Despite its bargain price, buyers get a ton of standard features for their money.
The official release of version 3 of Linux Mint Debian Edition hit the download servers at summer’s end, offering a subtle alternative to the distro’s Ubuntu-based counterpart. Codenamed “Cindy,” the new version of LMDE is based on Debian 9 Stretch and features the Cinnamon desktop environment. Its release creates an unusual situation in the world […]
Enlarge / Drink with caution. (credit: Getty | Yoko Inoue) Students returning to school in Detroit next week will find their water fountains entirely shut off over concerns of elevated lead and copper levels—something that federal lawmakers say is part of a “disturbing and unacceptable” nationwide issue. The decision to shut off the drinking water […]


text:
By Don Douloff, September 4, 2008
Fairmont Hotels and Lexus have teamed up to provide Fairmont President’s Club members with Lexus hybrid vehicles as courtesy cars at Fairmont Hotels & Resorts in the U.S.
Both companies will also work closely on co-branded marketing opportunities and will extend special privileges to their respective network of frequent guests and loyal customers. One example is the co-branded Lexus Hybrid Living Suites, high-end accommodations geared for eco-conscious visitors, launched earlier this spring at The Fairmont San Francisco and The Fairmont Washington, D.C.
The new signature suites are environmentally sustainable and incorporate local and organic materials and renewable resources such as bamboo. Suites also feature efficient technology such as compact fluorescent lighting, sustainable cuisine, eco-friendly paints and recycled products and complimentary use of a Lexus LS 600h L hybrid sedan.

domain: news


text:
The third installment looks at the declining number of small business loans in Oregon.
"Despite being a driving force in our state's economy, small business owners have seen their credit shrink or disappear altogether as banks overcompensate for their reckless lending by dramatically decreasing the access small businesses have to affordable credit," the report says.
The report calculates that the missteps of the nation’s largest banks have cost Oregon millions of dollars each year.
The report was done in partnership with the Service Employees International Union.
Economic Fairness Oregon is based in Portland.


text:
Rovio, the studio behind the iconic Angry Birds mobile game franchise, has announced a new real-time RPG for mobile gamers. The new title named Darkfire Heroes is set to release globally on Android and iOS devices in April 2021. The strategic and immersive game is currently under pre-registration for Android and iOS devices.
The game is the first to be released from Rovio’s Copenhagen studio, which is said to be working on mid-core RPGs with Nordic. The game was earlier soft-launched in Canada, United States, Denmark, Norway, Sweden, Finland, Netherlands, Poland, United Kingdom, Israel, Philippines, and Thailand in 2020.
Get Ready for some action-packed gameplay in Darkfire Heroes!
Darkfire Heroes is an action-packed RPG with both single-player and multiplayer elements in the game. The game will have an immersive single-player campaign and a real-time PVP arena. Here you can play against friends and opponents from all over the world!
Get a chance to fight epic bosses, take down evil hordes of beasts or go up against other players with a team of powerful and unique heroes from six different factions with special skills and a touch of magic. With more than 50 heroes, 20 magic spells, and hundreds of epic skills and gear pieces, the fight tactics are limitless. Also, you can enter the fantasy realm of Darkfire Heroes and go on a heroic adventure. Explore hundreds of levels across more than 10 breathtaking locations. Your squad will journey from ancient valleys to haunted castles, and from frozen peaks to volcanic mountains. Your heroes are the only hope to defend the free lands.
Darkfire Heroes is now available for pre-registration
Rovio has planned this game for the April 2021 release. However, if you are a RPG enthusiast, then surely you can pre-register for Darkfire Heroes on Google Play Store and the App Store. Sign up now and be the first to go on a heroic adventure in Darkfire Heroes.
Are you excited for the Darkfire Heroes game as it is scheduled for a global release on Android and iOS in April, 2021? Let us know in the comment section below.


text:
GURUGRAM: In a relief to commuters, a Gurgaon-based startup — Wagon Cab — has launched a fleet of 1,750 cabs to operate across Delhi-NCR, minus surge pricing and waiting charges.
MBA graduate Arpan Aggarwal is the founder of this app-based cab aggregator. Aggarwal said, “We’re not only offering a flat rate of Rs 10 per kilometre, there will also be no surge pricing during peak hours, no cancellation and no waiting charges.”
He said the company wanted to promote the use of CNG cabs and cut down emission by reducing use of petrol or diesel-run four-wheelers.
He added, “We have successfully completed 2,473 rides in the first two weeks of launch (on October 28), with 750 drivers. Now, we are expanding our fleet to 2,000 cabs and targeting 10,000 more customers by the end of this month.”
According to Aggarwal, the startup is currently bootstrapped by him and co-founder Uttam Bose. It will work on the subscription model, wherein drivers will be paying Rs 100 per day to the company at the end of every month. The company is not charging the drivers till November 19, after which it will start charging the subscription fee.
Customers will pay drivers directly in cash or through Paytm (toll tax and parking extra, if applicable).
Bose said the company was following a triple-step verification process for drivers and their vehicles. The process includes personal verification as well as verification of driver’s licence and Aadhaar card. The vehicle’s verification is done through fitness and registration certificates.
The startup has announced five emergency numbers for commuters in case of any breach of safety or emergency. Commuter Harshit Patel said, “The biggest plus is the transparency. From start to end of the journey, there is no hidden cost.” However, availability of cabs is an issue, he added.
British bus maker Optare will deliver its final batches of diesel buses over the next 6-8 weeks, bringing down curtains on a 115-year journey in different forms. This development can be seen as a significant example of the transition of the automotive industry towards electrification.
Apart from Guleria, Pradeep Pandey senior vice-president (customer service), HMSI has put in his papers. In February this year Shekhar MC, formerly general manager (finished vehicles logistics), too exited the company and joined Ola Electric Mobility.


text:
Connect with top gaming leaders in Los Angeles at GamesBeat Summit 2023 this May 22-23. Register here.
It’s hard out there for a massively multiplayer online game developer. As evidence of that, Funcom announced today the closure of its Beijing studio and layoffs at its Montreal and Raleigh offices.
Funcom is the developer of MMOs like The Secret World, Anarchy Online, and Age of Conan. Following the launch of The Secret World, it quickly shifted its focus to “smaller, high-quality online games with more limited budgets and shorter production timelines,” according to a statement on its website.
The company’s Beijing studio worked on the visuals for The Secret World. Funcom will shut that down and bring developers into its Raleigh, N.C. offices. Meanwhile, the company’s Montreal studio will send some developers to Raleigh, while shifting to work exclusively on tablet and mobile games.
GamesBeat Summit 2023
Join the GamesBeat community in Los Angeles this May 22-23. You’ll hear from the brightest minds within the gaming industry to share their updates on the latest developments.
“The live team in Raleigh, North Carolina, has up until today only housed our billing/tools, community, customer service, operations, and quality assurance teams,” Funcom chief executive officer Ole Schreiner said in a statement. “By bringing the developers on our live games to Raleigh, it allows us to build a stronger, more unified team that can service and support our online games as they work to expand these worlds and create new experiences for the players who inhabit them. This will also allow us to have the team staying in Montreal focus exclusively on their new responsibilities of developing for tablets and mobile devices as well as working on new tech.”
Funcom also noted that it laid off employees at both the Raleigh and Montreal offices in certain departments.
The Secret World started as a subscription-based game, but the developer recently updated it to a free-to-play model.
Funcom is currently working on an MMO based on the Lego Minifigures products.
(Thanks to Playnews.biz for the tip.)
GamesBeat's creed when covering the game industry is "where passion meets business." What does this mean? We want to tell you how the news matters to you -- not just as a decision-maker at a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it. Discover our Briefings.


text:
This content was written and submitted by the supplier. It has only been modified to comply with this publication’s space and style.
Duravant LLC, a global engineered equipment and automation solutions provider to the food processing, packaging, and material handling sectors, announced it has acquired Ferdinand Henneken GmbH, a manufacturer of protein processing solutions headquartered in Bad Wünnenberg, Germany. Henneken designs and builds innovative equipment including vacuum tumblers, tenderizers, injectors, and brine mixers that deliver higher yields and improved product quality for meat, poultry, and seafood processors.
Henneken is a strategic acquisition for Duravant as the company expands investments in the growing protein sector. The products and services offered by Henneken are highly complementary and enhance Duravant’s capabilities to offer full-line and integrated equipment solutions.
“We are excited to broaden our equipment and technology offering to protein processors by welcoming Henneken to the Duravant family,” said Mike Kachmer, Chairman and CEO of Duravant. “Henneken’s unwavering commitment to excellence and passion for innovation has been core to their success, and we look forward to strengthening that legacy of delivering customer-centric solutions.”
Since 1977, Henneken has been a leader in secondary processing solutions for meat producers and food companies around the world. Combining renowned German engineering with a deep understanding of meat science and technology, Henneken designs injecting, marinating and tumbling equipment that ensures high product quality and consistency while reducing handling and processing time. Henneken’s in-house technical center operates as their innovation hub where their team of engineers and technologists work with customers to test product and develop tailored solutions.
“We are thrilled to join forces with Duravant in this exciting new chapter of growth,” said Volker Henneken, a member of the company’s founding family. “Duravant’s global infrastructure will enable us to expand into new geographies and better serve our existing customer base.”
Kai Henneken, founding family member of Henneken also adds, “We are excited to collaborate with other Duravant operating companies such as Marlen, Marelec and Foodmate. We share a culture of dedication to delivering greater value to meat and poultry processors through innovation and an unwavering commitment to customer satisfaction.”


text:
Activities related to governance, planning and city management are re-shaped by ICT, which provides a new dimension making it citizen-centric, efficient, accountable and transparent. The way in which many public services, such as outdoor lighting, parking, mobility services, kiosks, location-based services, sensor-based water defences, physical infrastructure monitoring and controls, and smart energy grid services are developed, validated and scaled will change as local governments invest in a smart city strategy.
Tapping into the potential of open innovation
European cities and regions need to move forward and address issues related to smart innovation and the creation of the right framework and space to experiment with more innovation and digital transformation. The mobilisation of all relevant resources could be used to achieve this goal (e.g. EU structural funds, public procurement, Horizon 2020 research and innovation programme).
DigiEspoo: using digital technologies as a driver for public sector innovation
The city of Espoo decided to launch Digi Espoo, a crowd solving tool consisting in bringing real life challenges to the table of developers and SMEs in order to ask them to solve these challenges. The city of Espoo intends to enable policymakers to get a better understanding of the new opportunities driven by the digital revolution through the use of digital solutions to solve their management challenges. This initiative therefore serves to raise the awareness of policy makers on digital technologies. Mindful of this awareness, they will be better equipped to design policies in support of the digital transformation of local businesses.
E-government activities as a driver for digital transformation
Digital breakthrough in the reduction of old asolutions have the capacity to make a nd sub-optimal management styles in the public sector. The online delivery of public services can also serve to accelerate the digital transformation of local businesses. In the region Provence Alpes Cote d’Azur, one out of two SMEs uses e-government services for tax declarations. If the primary purpose of egovernment activities is to improve the efficiency of governments interactions with businesses, these online services also have a demonstration effects for local firms (especially for SMEs). For many companies, e-government activities constitute a model for online service delivery providing companies with new incentives to trust the security of on-line transactions.
Multi-level governance to drive the digitalization of the city of Tallinn
In Tallinn many initiatives have had a significant impact in the development of the digital strategy of the city. At national level, e-Government services are driving the digital transformation process. The e-Residency digital service offers a transnational digital identity to anyone interested in administering a location-independent business online. The national initiative enables secure and convenient digital services and facilitates credibility and trust of online transactions. in 2009 Tallinn implemented a new smartcard ticketing solution, requiring passengers to register their trip using a personal contactless card when entering vehicles.


text:
If 10 seconds of Kylie Jenner’s poolside pout or your friends’ repetitive “beach day :)” and “epic sunset” Snapchat stories are getting old, its time to expand your feed. Early adopters included teenagers and millennials like Jenner, Gigi Hadid, and their dogs. Then Snapchat launched “Discover,” where brands can tell interactive stories with the swipe of a fingertip, and “Live Stories,” where users can watch snippets from events and locations. (You may have seen Benedict Cumberbatch dancing at *Vanity Fair’*s Oscar party—now streaming on YouTube courtesy of [one dedicated fan] (https://www.youtube.com/watch?v=wGZhD0Vi7VI).) And in the last few months, Snapchat stories have become home to everything from international news updates in real time, to Terminator re-enactments from your favorite former Governator, to moms and, for better or for worse, presidential-campaign selfies.
Here’s a handy guide to the unexpected stars of Snapchat:
In an effort to continue her reign as the social-media-savvy candidate, Hillary Clinton launched her Snapchat account just a couple of weeks ago in an announcement, saying, “Those messages disappear all by themselves!” Clinton has since used Snapchat stories live on the campaign trail, complete with interviews from supporters and choice posters.
If you ever find yourself wondering how your favorite actor turned governor spends his days, look no further. Beyond the expected promotional posts for his recent movie Maggie or his self-titled athletic conference in September, Schwarzenegger enlists some very recognizable dad humor with his squinty selfies, Terminator jokes, and videos with fans—all accompanied by explanatory third-person captions.
Obsession-grade attention to Jared Leto (and his hair) has shifted from his Instagram to his Snapchat account. Leto, an avid snapper, takes his followers on expeditions to mountaintops, deserts, and beaches during his downtime. He has also directly communicated with fans via Snapchat by asking for feedback on upcoming projects, and has thrown in some fairly intricate selfie doodles.


text:
Indonesia’s Kopi Kenangan has raised $ 109 million in a Series B funding round led by the company’s existing investor, Sequoia Capital.
New investors in the funding round included B Capital, Horizons Ventures, Verlinvest, Kunlun and Sofina as well as the company’s first institutional investor Alpha JWC Ventures.
The new funding follows Kopi Kenangan’s $20 million Series A round in June 2019 led by Sequoia Capital and its seed round in 2018 led by local investor Alpha JWC.
In December 2019, Kopi Kenangan also announced an expansion of its Series A round with additional investment from Arrive, a Roc Nation company, Serena Ventures, world-renowned basketball player Caris LeVert, and Sweetgreen chief executive officer and co-Founder Jonathan Neman, amongst others.
The current funding round is expected to strengthen its operations in Indonesia, launch new products, invest in technology as well as to protect its employees amid the ongoing pandemic.
“The hospitality industry is facing the biggest existential crisis of our generation,” said Edward Tirtanata, co-founder and chief executive officer of Kopi Kenangan.
“It’s hard to tell when the sector will return to normal but when it does, it will look very different. As a growing startup, we are adapting quickly to the challenge through contactless commerce and uncompromising hygiene standards throughout our stores. The well-being of our employees is a big priority and we are investing in their safety, along with enhanced health benefits and additional training to help them cope with this massive change,” he added.
Kopi Kenangan has also committed to helping local F&B entrepreneurs with technology, investment and mentorship through the food accelerator programme, Digitarasa.
The company currently employs 3,000 people and hopes to create more jobs across cities and towns as it opens new stores. It expects to reach 500 stores by the end of 2020.
Currently, Kopi Kenangan operates 324 stores across Indonesia and reaches over a million customers through its mobile app. The company has also announced plans to expand to neighbouring countries such as Thailand, Phillipines and Malaysia post-pandemic.
“F&B is one of the largest consumer opportunities in Southeast Asia and Kopi Kenangan has built a very authentic and compelling identity among millions of Indonesians. We are looking forward to bringing the same delightful experience and tasty products in more categories and formats as the business expands into newer markets” said Rohit Agarwal, Vice President, Sequoia Capital (India) Singapore.
In other news, co-founder of social media company Facebook, Eduardo Saverin will be joining Kopi Kenangan’s board of directors


text:
US carbonated frozen drink Icee is set to make its UK debut, after Vimto secured the licence for out of home.
Icee was the world’s leading frozen beverage brand, said Vimto, with 86% brand awareness and more than 500 million drinks sold annually. It is sold across a variety of channels in the US and around the world, including large grocery, convenience, cinemas and quick-serve restaurants (QSRs).
Vimto’s licence covers manufacture, sales & marketing, distribution and service for the Icee product and equipment.
The deal marked “an exciting time for us, adding the world’s number one frozen beverage brand to our portfolio” said Nick Yates, sales & operations director at Vimto Out of Home. “The demand for iced drinks is there, especially in cinemas, QSRs, theme parks and other leisure attractions – and are well equipped to bring Icee to this market, where we already have a strong presence.”
Vimto Out of Home was “an an ideal partner” for Icee, said the brand’s VP for managed services & international, Steve Every. “We share many synergies in terms of ways of working and a shared vision for growth. This is an important step in our international expansion.”


text:
The Okanagan is known around the world for its hot summers and award-winning wines, but now that it’s colder, it’s time to explore the mountains.
“We do have a really great family-friendly front side, but we have an amazing back side of our mountain, as well as a lot of deep, steep terrain, a lot of black and double-black diamonds,” said Chantelle Deacon, SilverStar Mountain Resort media relations manager.
“Sometimes it’s easily forgotten, but for the locals, we are really well-known for all of that fresh powder on our backside.”
For Deacon, the resort near Vernon is so much more than just a mountain.
“I grew up on the mountain, so I have always considered this place home,” she said. “It is a magical place.
“One thing that really sets us apart is the mid-mountain village, so instead of starting the day with a lift, you start a day with a ski run.”
All lifts are officially open and SilverStar Mountain Resort is being transformed into a winter wonderland just in time for the holidays.
For more news on the mountain, visit skisilverstar.com


text:
Business race image via Shutterstock
Of the six new members, four are based in China. The new members include Beijing Botuzongheng Science & Technology Co, Shanghai Gingkoo Financial Technology, Sinolending and ZhongChao Credit Card Industry Development Co. Two US-based firms – Altoros Americas and the Chamber of Digital Commerce – have also joined.
A full quarter of the Hyperledger membership is now based in China, the project’s representatives said today – a reflection of a push to encourage more stakeholders in the country to join and play an active role. According to executive director Brian Behlendorf, the growing ranks are a signal of support for open-source development of the technology.
In recent months, Hyperledger has launched initiatives such as a healthcare-oriented working group.
The Hyperledger project has added six new organizations to its ranks, bringing the total number of members in the year-old blockchain project to more than 100.
The group, overseen by the Linux Foundation, has been steadily adding members since its inception last December.
"The growth and support across the globe is a testament to the need for an open source initiative, like Hyperledger, that accelerates the development of blockchain software and systems to reinvent industries."
He said in a statement:
DAO.Casino Automates Trust in Online Gambling with Blockchain Technology
The increasing number of online gambling platforms has made it hard for people to differentiate between the ones that are genuine and those that arenât. However, there is a solution that makes
131 Countries: BitPay Goes International With Bitcoin Prepaid Visa Card
BitPay is expanding its prepaid bitcoin card offerings to more than 100 new countries.
Unveiled today by BitPay chief commercial officer Sonny Singh at Consensus 2017, the Visa-branded offering ena
Consensus 2017: 'The Future Is Here' For Blockchain's Cross-Border Impact
The use of blockchain to conduct business across international lines has long been seen as a major application for the tech – but where it offers the most benefits is still open to debate.
Consensus 2017: Enterprise Ethereum Alliance Puts Blockchain Privacy Into Focus
Privacy and confidentiality are big-ticket priorities for the Enterprise Ethereum Alliance, ethereum-focused consortium launched in February.
The group – which last night announced the addition of
Bitcoin jumps $200 in single day and has nearly doubled in May on surging global demand
Bitcoin added more than $200 Monday at one point amid a major New York conference on digital currencies, following a surge in weekend interest from Asian investors. The cryptocurrency briefly
Exchanges Are Weak Point of Cryptoworld, NVO Will Change It
Exchanges are the achilles heel of the cryptocurrency world. Unlike a stock market, where securities are held by a custodian bank and your cash would be in your bank account, in many cryptocurrency
Enterprise Ethereum Alliance Announces Technical Board
The Enterprise Ethereum Alliance, an organization comprised of the some of the most prominent names in blockchain, recently announced its inaugural Technical Steering Board. Focused on building out Et
Bitcoin Price Blitzes Beyond $2,200; USD Markets Reign
The rampaging run continues as bitcoin price soars above $2,220 to new uncharted heights led by trading in US markets.
“Bitcoin Price Could Leap over $2000 in 2017” read a CCN headline citing Danis


text:
The authorities plan to oblige manufacturers of smartphones and tablets to install domestic search engines by default in the browser. Ministry of Digital Development, Communications and Mass Media, also known as MinTsifry, plans to prepare a corresponding government decree by April.
In the current version of the law on pre-installation of the software, manufacturers can offer certain services to choose from when activating a device. Users can skip their installation. According to the forthcoming decree, the domestic search engine must be installed by default in the browser.
The authorities want to oblige device manufacturers to install domestic search by default in order to level the market between Russian and foreign players. It is primarily a question of supporting Yandex.
Yandex reported that they had not seen the final version of the decree. “We believe that everyone should be able to choose freely and the most optimal solution could be a “window of choice” for a search engine”, said the company.
Karen Kazaryan, an analyst at the Russian Association of Electronic Communications, believes that if the initiative of the authorities is implemented, Google’s revenues will decrease and the corporation may change its strategy of work in the Russian market, for example, revise agreements with smartphone manufacturers.
On April 1, the rules will come into force obliging manufacturers to pre-install Russian applications on tablets and smartphones. According to the approved rules, 16 services will be obligatory, including browsers, search engines, social networks, messengers, mail services, news aggregators and the State Service application.
According to Yandex’s own data, the company’s share of the Russian search market was 59.7% in the fourth quarter of 2020. Mobile traffic accounted for 53.3% of ad sales on the search results page. Mobile Research Group analyst Eldar Murtazin predicts that if the Ministry’s initiative is implemented, Yandex’s share in mobile search may quickly increase because most users will not want to spend time replacing the default search engine.
If you like the site, please consider joining the telegram channel or supporting us on Patreon using the button below.


text:
Bitcoin has successfully grabbed international attention, and now, here it is in the local scene.
A Bitcoin payment company in the Philippines has introduced the Bitcoin Automatic Teller Machine (ATM) to cater the local consumers who uses Bitcoin in their various business and personal transactions.
In 2014, Bitmarket.ph, a Bitcoin payment platform based in Manila, introduced the Bitcoin ATM in the country.
According to local report, the commercial ATM, which retails for US$999, comes courtesy of manufacturer Project Skyhook.
Furthermore, it allows for one-way transactions, meaning to say that users can buy Bitcoins through it by putting Philippine pesos into the bill acceptor.
Also, the ATM then transfers the corresponding amount of Bitcoin to the user’s address, which is linked when he or she scans a QR code on a smartphone to Skyhook’s camera.
The ATM charges users a three percent fee on top of the Bitcoin sell price listed on CoinXchange.ph.
Asked on its objective on introducing Bitcoin ATM, Bitmarket said, the company’s ultimate goal, however, “is not to make money from its use, but to increase Bitcoin awareness.”
“Our goal is adoption and education,” says Sabina Lopez-Vergara, the director of marketing and public relations for Bitmarket.
“With Bitmarket.ph, we are trying to create the market for users to spend their Bitcoin. But how do they get Bitcoin? The ATM eliminates the hassle of having to deal with an exchange and trekking to the bank to make a deposit. With this ATM, anyone with a Bitcoin wallet can buy Bitcoin. It’s as simple as just going up to a vending machine and purchasing food,” Lopez-Vergara added.
As of now, Bitmarket.ph owns and controls – Satoshi Citadel Industries, it yielded one thing, Filipinos can purchase products and services through one of Bitmarket’s almost 100 merchants, send remittances through Rebit.ph, or tip fellow users through selfie-posting site Bitstars.
The company spokesperson emphasized that “when more people have Bitcoin, they will be looking for ways to spend it. This helps us a great deal in closing the circle of our marketplace.”
The ATM currently sits in the Bitmarket office in Makati City, and the Bitmarket team admits that it has been sparsely used since it was shipped from Portland, Oregon.
Meanwhile, May 2015 when Bitcoin Philippines Corporation formally launched the first two-way Bitcoin ATM in the Philippines.
The two-way Bitcoin ATM named Genesis1 is centrally located in the main lobby of the Sunette Tower Hotel in the heart of Manila’s financial district, Makati City.
The Bitcoin ATM is currently online and processing bitcoin transactions and has been available to the public since the end of April, however, the official launch came more than a week later.
The ATM is open 24 hours, 7 days a week, the Bitcoin ATM was distributed by San Diego, California’s Genesis Inc., which, as the fourth largest Bitcoin ATM software developer, currently has a greater market share than Robocoin.


text:
UK REIT British Land is in the market looking for around £300m of debt to refinance a retail portfolio held by one of its Tesco joint ventures.
It is thought to be looking to put together a consortium of lenders to provide debt at low leverage and pricing is expected to be tighter than 150 basis points.
A club of five lenders comprising what was then called Eurohypo, Helaba, Santander Corporate Banking, Calyon Crédit Agricole CIB and Nationwide Building Society, last refinanced the debt in late 2009. A five-year loan was issued to repay an existing bank loan at maturity.
The 50/50 Tesco joint venture in question was established in 1999 and now owns a portfolio of two retail parks, two shopping centres and four Tesco superstores, valued at £516m as at 31 March 2013. The principal amount of debt outstanding against it stood at £279m.
It is one of five JVs between British Land and Tesco, which together hold properties valued at £1.7bn.


text:
Fluidmesh Networks, a manufacturer of wireless infrastructure solutions for security, announced this week that its recently launched channel partner program has already reached the 100 member mark.
According to a statement issued by the company, the program provides members with information and tools needed to help expand their business such as online sales training and certification, as well as marketing resources and pre-sales support services.
"Success can be measured in many different ways," said Fluidmesh Vice President of Marketing Cosimo Malesci. "It is with great pride that we announce that we have reached 100 channel partners in North America. We would like to thank our customers, our distributors, and our sales representatives for making this possible. This is an important achievement in Fluidmesh's history which confirms the quality of our products and the value of our philosophy. The wireless revolution continues."
For more information about the program, visit www.fluidmesh.com.


text:
Alliance Fruit, citrus and subtropical grower-exporter based in Hoedspruit, has been exporting lemons for a month, as Northern Hemisphere markets are running short, but all through last week the lemon harvest was suspended after very heavy rain in the area ended last Monday.
As lemon exports resume (to run strongly until beginning or middle of April), regarding grapefruit they are nervously watching for a recovery of Chinese consumer demand.
“Grapefruit starts coming in by the end of March, and usually those first weeks produce very good prices. Within the next few weeks we should have a better idea of the state of the Chinese market. It’s critical that China returns to normal. According to the feedback we’re getting from our clients it seems that the market is slowly recovering and that the disease is increasingly under control,” says Erwee Topham, Alliance Fruit marketing manager.
“So few lemons have been sent to the East that we haven’t felt the effect of the coronavirus on markets.”
Prices for bigger lemons “through the roof”
“The lemon shortage in traditionally early markets like Russia, the Middle East, some Far Eastern countries is being exacerbated by the heavy rain we had. It’s been a challenge to get ahead with packing when we lose three or four days of packing, and there’s more rain predicted for the weekend,” he says.
“Lemons kicked off early, the earliest start we’ve yet had with lemons. The first lemons were sent locally when the market was very strong.”
A heavy fruit set on lemons has meant smaller lemons. Erwee notes that where last season 40% of the crop would be counts 100 and bigger, this year it’s only about 5%. “The smaller sizes haven’t been a drawback to exports, but it does reduce the amount of packed cartons and what we have for markets like Russia and the Far East, consequently prices for larger sizes are through the roof with demand not being filled. We would’ve liked to have more large sizes for Russia.”
Global market gains confidence in South Africa’s mangoes
If lemons were early, mangoes were still earlier, resulting in a massive peak of Tommy Atkins during late December, coming to an end early January where it usually extends to the end of January, with a reduction in late varieties.
Low available mango volumes domestically are translating into good prices for producers.Alliance Fruit is one of South Africa’s foremost mango exporters, made possible by the Rand/USDollar exchange rate, Erwee notes.
South African export mangoes (photos supplied by Erwee Topham)
“Over the past few years, markets have gained confidence in South African mangoes and from the assurance that volumes will be available every year. Most of our mangoes go to Russia and the Middle East, packed under the brand names of our shareholders. We also send them to Singapore, Malaysia and Hong Kong.”
They export Tommy Atkins, Kent and Keitt, mostly by sea freight. “We’re still loading but we’ll send the last mangoes next week.”


text:
Jensen Meat, a California-based private label supplier of ground beef and plant-based beef alternatives, has announced a major donation for a good cause. The company will donate 2 million plant-based patties to Feeding San Diego, a non-profit organization that helps provide food for those in need in San Diego County.
Jensen’s meat is sold under labels including Great Value, Kroger, Sam’s Choice and more. The donation of 500,000 pounds, or 2 million individual plant-based patties, will benefit multiple communities through Feeding San Diego's distribution network.
The initiative, which was announced on Dec. 29, collaborates with Jensen's plant-based partners such as Before the Butcher, Everything Legendary, and others that wished to remain anonymous, which donated one pound of plant-based patties for every ten pounds of production. Plant-based meats have seen a rise in popularity during the ongoing pandemic.
“Our plants are located in San Diego County, which is where our employees live, our plant-based partners, and our friends and relatives," said Abel Olivera, CEO of Jensen Meat. "Through our longstanding partnership with Feeding San Diego, we can help a community that is close to our hearts. Jensen wants to be a part of the solution to end world hunger. Worldwide hunger is a pressing, serious concern, and we want to do our part starting in our community. With multiple motivated partners and an ever-growing reach, we believe that this movement will continue to grow and expand globally.”


text:
This is the first time the L&T Group-backed firm is reporting its quarterly results post the L&T Infotech and Mindtree merger in November. The combined entity is now India’s sixth largest in terms of revenue.
Net profit for the three months ended December stood at Rs 1,001 crore compared with Rs 1,050 crore a year back. Revenue came in at Rs 8,620 crore, up 25.3% year on year. ET’s poll of analysts estimates had pegged net profit to be flat compared to last year, on revenue of Rs 8,644 crore, up 25.5% on year.
The company said the reported numbers are comparable as the merger was effective from April 2022 and it has eliminated any intercompany revenues.
The profit was down 15.8% while revenue grew 4.8% on a sequential basis.
The company declared an interim dividend of Rs 20.
“For the fourth quarter, there are sectors where clients are cautious in formalising their budgets in specific segments like retail, consumer packaged goods or hi-tech but we have not seen programs being cancelled,” said Debashis Chatterjee, MD and CEO of LTIMindtree.
Chatterjee, in post-earnings media call, said slowdown is more of taperment in terms of starting or slowing down transformation programmes but the company remains “upbeat” about its long-term demand.
He added that clients’ behaviour for fiscal 2023-24 will be to award more cost-takeout and efficiency based deals where the costs saved will be used to fund other transformation deals.
Analysts opined that the IT sector may be impacted by delayed decision making or cut in technology spending on account of macroeconomic challenges such as high inflation and geopolitical tensions in Europe.
The company’s shares ended 0.6% higher at Rs 4,272.2 on the BSE on Friday. The results were declared after market hours.
The Mumbai-based firm’s operating margins dipped 360 basis points sequentially to 13.9%, dragged by one-time integration-related costs and higher holidays in the quarter. It also fell 460 basis points on a year-on-year basis due to higher wage impact.
“We have covered most of the integration and furlough costs in the third quarter. There will be some impact carried forward in the fourth quarter. Definitely, from the fourth quarter onwards, you should see an uptick in margin,” said Vineet Teredesai, CFO of the company.
The company reported total contract value of deal wins at $1.25 billion. The company did not disclose a comparable number for the base quarters.
As part of the merger, all shareholders of Mindtree were issued shares of LTI in the ratio of 73 shares of LTI for every 100 shares of Mindtree. The parent company, L&T now holds 68.73% of the merged entity. One of the main reasons for the merger was to make the combined entity more eligible to win larger deals and unlock revenue synergies.
In terms of geographies, North America grew 19.6% year on year while Europe just reported 0.2% growth. The company said Europe’s underperformance was largely due to currency impact seen previously and, going forward, the market is expected to be on a “good growth trajectory” due the strong deal wins this quarter.
All the verticals witnessed at least high single-digit growth on a year-on-year basis, with banking, financial services and insurance leading with 22% growth.
Voluntary attrition for the quarter stood at 22.3% compared to 24.1% last quarter . Net hiring stood at 86,462 down by 474 over the quarter amidst a tightening hiring ecosystem.
Chief operating officer Nachiket Deshpande stated that the company does not have a specific hiring plan until the business has fully integrated. “We decide the hiring plan in response to the businesses we see. So we don't have any specific hiring plans for Q4 or for FY24,” said Deshpande.
He added that the company is still completing the process of skill profiling of the entire workforce.
Last week, India’s top software exporter Tata Consultancy Services reported 11% on-year growth in fiscal third quarter net profit at Rs 10,846 crore, missing estimates. Revenue came in at Rs 58,229 crore, up 19.1% on year. The company also saw a reduction in its total workforce for the first time in 10 quarters as it slowed down fresh hiring, indicating challenges in the global demand environment.
Infosys, on the other hand, posted a 13.4% growth in net profit for the fiscal third quarter, beating estimates and upgraded its annual revenue guidance to 16-16.5% annual revenue growth for the ongoing fiscal compared with 15-16% forecast earlier due to strong deal wins. Net profit for the three months ended December stood at Rs 6,586 crore compared with Rs 5,809 crore a year back. Revenue came in at Rs 38,318 crore, up 20.2% year on year.
- Front Page
- Pure Politics
- ET Markets
- Fed Hikes Rates by 25bps, Signals One More on Cards
The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs amid recent turmoil in financial markets spurred by the collapse of two US banks.FM Calls State-owned Lenders’ Meet Amid Global Banking Crisis
Finance minister Nirmala Sitharaman has called a special meeting of state-run lenders later this week to seek their views on heightened global concerns over the banking system’s vulnerability due to monetary tightening.With Great Ecommerce Comes Great Responsibility for Online Platforms
The consumer affairs ministry is working on tightening ecommerce rules to make online retail platforms liable for fraud committed by sellers and attaching “fallback liability” to their role as intermediaries, said a senior official.
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.


text:
“J. Crew up in here one more time & we gon’ United Colors of Benetton all on your ass.“
That’s how I dream. I understand what my mind was trying to say, lol, bad metaphor though– I never could afford one of those Benetton sweaters. That marketing though! What a beautiful vision of bright colors, diversity, access and social justice. “Benetton’s United Colors gave the brand license to embrace the full spectrum of humanity, promoting itself as diverse, fun, and playful, unlike competitors, which often appeared stark and serious.” No correlation to the products themselves, or the consumers who had the means to buy the products. Marketing is just pretend: create a vision people have feelings about and manipulate people through their feelings, driving them into the marketplace to buy more.
Instead of pretending, let’s look at what’s real, examine what’s true. Leaving behind and perhaps building upon our delightful fantasies and our faith, cultivating more rigorous inquiry into how things are. Facts not feelings. Marketing trades on people’s feelings in some of the same ways what’s happening in the U.S. politically right now does. As public health officials are being excluded from congressional hearings, we’re being asked to believe a vision created for us by people who do not have our best interests in mind.
From the Guardian, “Donald Trump is effectively abandoning a public health strategy for the coronavirus pandemic and showing a “clear willingness to trade lives for the Dow Jones”, critics say. A leaked internal White House report predicts the daily death toll from the virus could reach about 3,000 on 1 June, almost double the current tally of about 1,750, the New York Times revealed on Monday.”
It’s not cynical to think that what’s fueling the unfolding tragedy in the U.S. isn’t only a matter of lack of leadership, but an intentional focus on profit over people. (What up with Jared’s PPE stash?) Who’s benefiting from this pandemic, how specifically? Always follow the money.
I woke from the dream this morning to news that J. Crew has filed for bankruptcy. “The first national US retailer to file for bankruptcy protection.” The landscape is shifting all around us. As Jen Hofmann‘s been detailing for a long time now with the Americans of Conscience checklist, it is important to pay attention to what’s changing.
I believe in science. I want to hear facts, data, information, real questions being addressed, not emotional manipulation, fantasies, magical thinking and gaslighting. I look forward to Dr. Fauci’s testimony.


text:
Haas Automation’s recent HaasTec open house exceeded expectations, attracting more than 3,100 attendees to the company’s headquarters and manufacturing facility in Oxnard, California.
The four-day event drew visitors from the U.S., Canada, and around the world, with attendees from 51 countries, including China, India, Korea, Latin America, the Middle East, and many European countries.
In addition, more than 700 students from regional high schools, colleges and universities stopped by as well.
Held Oct.10-13, HaasTec included machine demonstrations, extensive tours of Haas Automation’s 1-million-square-foot facility, a catered lunch and 42 industry-partner booths, with representatives from major CAD/CAM, tooling, automation, and workholding manufacturers.
As an added bonus, attendees also saw one of the Haas F-1 team’s race cars from its 2016 FIA Formula One World Championship debut, and Stewart-Haas Racing’s No. 41 Haas Automation Chevrolet, driven by Kurt Busch in NASCAR.
Visitors to HaasTec often arrived in large groups, accompanied by representatives from their local Haas Factory Outlet (HFO). More than 30 HFOs worldwide arranged trips to the event to personally show customers and potential customers what goes into making a Haas machine.
There were 16 machines on display and running demos at HaasTec, including the soon-to-be released UMC-1000 Universal Machining Center, the CL-1 Compact Lathe, and the re- engineered EC-400 HMC.
Attendees also got to see more than 200 Haas machines in action on the factory floor, making parts to build more Haas machines. Of the 296 chip-making machines in the Haas factory, 211 (71 percent) are Haas machines.
A number of Haas rotary products were also on display, including the new TRT70 ultra- compact dual-axis rotary table. Providing visitors with a historical perspective was the company’s very first VMC-VF-1 No. 1-fitted with an early Haas rotary table.
“We have had a booth at each HaasTec since its inception,” said Tom Resler of Guhring Inc., “and I believe it’s one of the best in the industry. Something that really stood out this year was the number of students that came through. Our industry is in dire need of a skilled labor force, and the outreach that Haas is putting forth is unprecedented.”


text:
Celebrity Cruises pulled out all the stops as they unveiled their new ship, Celebrity Edge, at a lavish event in downtown Toronto last night. The cruise company toasted the newest addition to their fleet in the plush surroundings of the Cambria Gallery, showcasing all that the Edge has to offer with a promotional video that was introduced by Ken Brooks, director of market sales, Canada.
The ship, designed completely in 3-D by renowned global architects and designers, will house 2,918 guests; Celebrity has more than doubled the number of available suites with its new offering. Included among these are two new Iconic Suites, located above the ship’s bridge and each covering nearly 2,600 sq. ft.
Celebrity enlisted the help of creative heavyweights for the design, with WKK architect Tom Wright and interior designer Kelly Hoppen lending their vision to the ship alongside designer Nate Berkus, who acts as its design ambassador. Central to its innovation is the new Edge Stateroom with Infinite Veranda, which brings guest rooms closer to the water’s edge and gives guests open-air access to the sea with the mere touch of a button.
Among the exciting new features include the Magic Carpet, which scales the ship throughout the day and evening, offering a new experience at four of the ship’s decks. One of these is ‘Dinner on the Edge’ on Deck 16, which sees the Magic Carpet turned into a specialty restaurant for 90 guests.
“The Magic Carpet is the size of a tennis court, and moves up and down on each floor,” Jennifer Barker, regional marketing manager, Canada, told PAX. “It can be used on Deck 2 to extend the deck as people are getting on and off the ship, or it can go right up top to where people are dining to extend the dining room – or even to extend the dancefloor at the bar.”
Other features include a new private relaxation area called The Retreat, complete with a private pool and lounge that offers around-the-clock personal butler service, in addition to an exclusive Suite Class restaurant, Luminae @ The Retreat. The Rooftop Garden, meanwhile, hosts games and activities throughout the day, with live music and the outdoor movie-and-meal pairing ‘A Taste of Film’ taking over during the night.
Speaking exclusively with PAX, Brooks highlighted Celebrity’s confidence that the Edge would be a game-changer. “It’s a whole new design – not just for Celebrity, but for the cruise industry,” he commented. “It sets a different kind of standard. We’re trying to raise the bar.”
Brooks also told PAX that the new ship was an attractive proposition for travel agents. “Celebrity Edge is going to be a more expensive ship than you’ll find in the Caribbean,” he noted. “When it means more expensive, it’s going to mean more money for them in their pockets – higher commissions.”
Celebrity Edge is to homeport in Fort Lauderdale, Fl., with her first sailing scheduled to take place on Dec. 16, 2018. Bookings are now open for the ship’s two 7-night itineraries. One of these is an eastern Caribbean cruise visiting San Juan, Puerto Rico; Tortola, British Virgin Islands; and Philipsburg, St. Maarten. In the western Caribbean, meanwhile, the ship will visit Key West, Florida; Costa Maya, Mexico; Cozumel, Mexico; and George Town, Grand Cayman. Back-to-back sailings for a 14-night journey will also be offered.
And that’s not all – Celebrity Edge is also to be followed by three sister ships in 2020, 2021 and 2022.


text:
Business owner Candi to launch new product – but it’s not chutney
PUBLISHED: 12:54 20 September 2019 | UPDATED: 12:54 20 September 2019
She toils daily making vats of chutney – but now Candi Robertson of Candi’s Chutney is launching a new product – but guess what?
Candi's Chutney has been going strong for seven years with the former chef working away in her industrial kitchen in Salle, near Reepham but she's now added 'a new member to the family.' Candi decided to make something new in addition to her range of chutneys - a steak sauce. And there are three different flavours to choose from; a classic, smoky and chilli, with the product officially launched next week at the Flavours food hub event at the Royal Norfolk Showground.
But Candi gave this newspaper a sneak preview. "I just wanted to do something different, so it's a new member of the family. It's made from a classic Edwardian recipe and I'm doing three different flavours." Each sauce is priced £3.95 - the same price as all the chutneys to keep business simple.
Candi, who works Monday-Friday making the chutney from her industrial kitchen and then packages it over the weekend, has made a business from selling at local festivals and food fairs, making the bold step of turning down a lucrative supermarket offer. "I don't want to be in supermarkets, I saw one of my suppliers put out of business, you think it's like a golden egg but supermarkets will suffocate you. I want to be known for producing my chutney by hand and I work hard to do it."
Her efforts have paid off - with a 27% growth in her business year on year although she said 2019 had been tough. "I've noticed the physical buying at farmer's markets has changed, I do three jars for £10 and people are now buying one jar, people are aware of what they spend."
You may also want to watch:
However, undeterred, she has been making 1800 jars of a new limited stock of her rhubarb, date and gin-ger chutney, made from recycled rhubarb discarded by local gin-makers Archangel, based at Fakenham. Rather than throw away the rhubarb after using it in their gin, it now gets frozen and re-used in Candi's chutney. "The first hit is of gin and fruit and then it's sugary and then you get the spices, it's been a really good seller," she said. Candi also makes a cucumber and Norfolk gin chutney, using the spent botannicals from the locally based firm.
However, nothing quite beats Candi's parsnip and chilli chutney. "That remains my best seller since I started," she added.
If you value what this story gives you, please consider supporting the Eastern Daily Press. Click the link in the orange box above for details.


text:
Industry Roundup: Supplement GMPs, Walgreens Recall, Healthy Children Study, Homeopathic Comments, Drug Claims
This article was originally published in The Tan Sheet
Botanicals firm argues GMP intent; Walgreens multivitamin missing child-resistant capsWyeth Nutrition supports NIH healthy children study; homeopathic regulatory evaluation comment period extended; Vitamin Shoppe adds Beardall; and more news in brief.
You may also be interested in...
Non-compliant cap prompts GNC Women’s Iron recall; Pedialyte Sparking Rush takes on sports drinks; ALA, curcumin in latest HydroxyCut formulation; Australian ingrown hair treatments reach US; Canadian cardio health drinks reach US; Sankaran to lead PepsiCo in North America; and Peet’s Coffee invests adjacent kombucha market.
The industry wants FDA to consider that a fraction of poison control reports are for homeopathics compared to other drugs and the agency’s current enforcement authorities maintain compliance in manufacturing and marketing the products. FDA is considering whether to maintain its policy that recognizes an ingredient’s inclusion in the HPUS monograph as pre-market approval.
Loss of exclusivity and other competitive pressures will continue to offset J&J’s pharmaceutical growth as its former blockbusters accumulate in ex-growth "other" categories. Can the pipeline take up the slack?


text:
For a stress-free Disney or Universal Studios vacation, let the FREE expert planners at Royal Carriage Vacations take care of every detail including dining reservations, applying discounts, and onboard cruise credit.
Because this must-have product is already sold out today, you may experience a less-than-magical day at Disney World.
Spring break crowds
Behind Christmas/New Year and the week of Thanksgiving, Spring Break is typically a very busy season at Disney World. The months of March and April bring an influx of crowds and families visiting the parks during school breaks.
While visitors to the parks during this season should pack their patience, as crowd levels are typically high, you may still want to consider a Spring Break trip. Read why Jaelyn thinks so HERE.
It also makes Genie+ a must have.
Yesterday, April 3, Disney Genie+ sold out the earliest that it ever has. As a reminder, guests can purchase Disney Genie+ at 12:00 am the morning of their park day. Many guests wanted to purchase Disney Genie+ early this morning but were shocked at the price.
Previously the highest price for Disney Genie+ at Walt Disney World was $29 per person. Disney has added an extra feature that guests that purchase Disney Genie+ can also enjoy free attraction photos for the day. This benefit made many feel that the price for Disney Genie+ may be a better value.
Guests may be singing a different tune at the new highest price for Disney Genie+. Today, it now costs guests $35 per person just to access Lightning Lane for select attractions. This is a big price jump compared to the previous high of $29.
Not only did today see a record high price for Genie+, but it also saw a record sell out time! Genie+ sold out this morning shortly before 10:00 am.
Genie+ sold out this morning shortly before 10:00 am.
Despite the high price, people are still willing to pay whatever the cost to be able to skip the line. What about you? Would you pay $35 for Genie+? Do you think you would get much value out of it if it sells out so quickly? Let us know in the comments below and share this post with a friend.


text:
While individual states continue to make their own arrangements for consumer privacy, lawmakers on Capitol Hill are still debating what form a federal privacy bill should take. And as matters continue to drag on, agreement on consumers’ rights shows no signs of being solidified any time soon.
There is division in the house, as Republicans and Democrats are split over whether to allow consumers a private right of action in cases of data privacy violations by tech giants such as Google and Facebook.
According to Politico, giving consumers this right would create a legal mechanism for individuals to take companies to court for violating a future privacy law.
Democrats are pushing for the provision, widely backed by privacy advocates, as a way to increase corporate liability for Silicon Valley firms like Facebook that are beset by data scandals. Many Republicans, however, criticize the idea, saying it will hurt small businesses and cause frivolous litigation. The tech industry is also opposed.
The issue has emerged as the latest obstacle as Congress tries to craft rules for how companies handle user data. Lawmakers had initially predicted they could get a bipartisan agreement by early this year, but the talks have dragged on as they’ve struggled to find common ground on a number of key issues. Those include whether a federal measure should override state regulations, like California’s privacy law.
“I think private right of action generally upholds individual rights,” Sen. Richard Blumenthal (D-Conn.), one of six lawmakers negotiating a privacy bill as part of a bipartisan Senate Commerce working group, told POLITICO. “We ought to be seriously considering it.”
Privacy advocates have intensified their push on Capitol Hill for a private right of action after failing to secure that provision in the California Consumer Privacy Act.
Sources, credits & acknowledgements: Politico


text:
Wine bars really began to supplant winos on the Bowery in 2007, when Whole Foods, the Bowery Hotel and the New Museum of Contemporary Art all opened on New York’s fabled broken boulevard. The 2008 market crash did little to slow skid row’s transformation into the Meatpacking District East (see: The Standard, East Village Hotel at 25 Cooper Square, just off Bowery).
Now the Downtown thoroughfare is poised to enter yet another phase of redevelopment. Intermix, the self-proclaimed “fashion boutique for trendsetters, A-Listers and glam fashionistas” opened in May at 332 Bowery, a former bodega. And last month, a portfolio of 11 mixed-use buildings sold to hip-hop clothier Joseph Betesh for $62 million.
The retail brokerage RKF is at the front of this gold rush. And Senior Director Brian Segall has become the firm’s Bowery guru. Last week, Mr. Segall and Robert Futterman, RKF chairman and chief executive, led The Commercial Observer on a tour of the company’s Bowery assignments, which (to the dismay of preservationists including Martin Scorsese) bolster RKF Executive Vice President Ariel Schuster’s prediction that the Bowery will soon be “one golden strip.”
[scribd id=156987928 key=key-ryou5ofk5aarluyhriv mode=scroll]


text:
|| Print ||
|Articles - April 2010|
|Wednesday, March 24, 2010|
Croman Mill, which takes up 65 acres inside Ashland’s city limits along I-5, is a reminder of a bygone area for a town now known more for Shakespeare than two-by-fours. The property has been dormant since the mill’s 1996 closure but plans for a redevelopment are moving ahead despite the fears of local businesses.
The Ashland Planning Commission approved plans in late February to rezone the site to develop single-family residential units, light industrial and manufacturing buildings, and a plethora of retail businesses, including restaurants, offices, nightclubs, bars and shops. Development is expected to take decades and be a source of major economic activity.
“It is a very, very important addition for the area and the region,” says Ron Fox, the executive director of Southern Oregon Regional Economic Development Inc. Ashland has very little land for development. Ashland businesses could expand or move; new businesses may move to the area.
“The whole idea is to create jobs for Ashland for the next 20 years,” says Ashland planning manager Maria Harris.
Planners estimate that 2,000 to 3,000 jobs will be created. “It will be a big portion of our future job growth,” says Adam Hank, project manager with the city of Ashland.
The plan is not without detractors. Zach Brombacher, the owner of printing company IPCO, says the millions it will cost for road improvements and creating sewer and electric systems will make rent so high businesses won’t move there. “They’re probably pricing themselves out,” he says.
Fear felt by local business owners is reminiscent of a similar redevelopment of a mill area a decade ago. There was concern that the Old Mill District would destroy Bend’s downtown businesses. But Chuck Arnold, the president of the Downtown Bend Business Association, says the district’s mix of retail and larger chain stores complements downtown’s small boutique businesses.
“The existence of the Old Mill doesn’t seem to create this dynamic of downtown versus Old Mill,” Arnold says.
A downtown business district co-existing with a business district with different offerings has helped Bend maintain a strong, diversified and vibrant economy. “That’s what Ashland should look into,” he says.
Thursday, February 26, 2015
BY KIM MOORE | OB RESEARCH EDITOR
Employment in Oregon is almost back up to prerecession levels — and employers are having to work harder to entice talented staff to join their ranks. This year’s 100 Best Companies to Work For in Oregon project showcases the kind of quality workplaces that foster happy employees.
Friday, February 27, 2015
PHOTOS BY JASON E. KAPLAN
Images from the 2015 celebration of Oregon's great workplaces.
Thursday, March 19, 2015
BY DAN COOK | Photos by Jason E. Kaplan
An alliance of developers, academics and timber industry executives wants to position Oregon as a front runner in the glamorous new world of wooden skyscrapers.
Thursday, March 19, 2015
BY APRIL STREETER
How the private sector can ride the next transit revolution.
Thursday, March 26, 2015
BY LINDA BAKER
Everyone knows cell phones and driving are a lethal combination. The risk is especially high for teenage drivers, whose delusions of immortality pose such a threat to us all. Enforcement alas, remains feeble; more promising are pedagogical approaches aimed at getting people to focus on the road, not their devices.
Friday, March 27, 2015
BY OB STAFF
New events series brings magazine to life.
Friday, March 27, 2015
BY AMY MILSHTEIN
Damian Smith bets on changing himself — and Portland — through consulting.
|Bike Chic: 7 stylish options for cyclists|
|Beam Me Up|
|Get on the bus!|
|Emperor of the Sea|
|The Road to Reinvention|
|Epitaph for a Boondoggle|
|FLOTUS: Tech industry to train, hire 90K vets|
|'Man-made' earthquakes becoming more frequent, powerful|
|FCC poised to block Comcast, Time Warner merger|
|Dunkin' Donuts, Domino's lead junk food revival|
|Pulitzer-winning journalist chooses PR|
|Taco Bell up, Chipotle down|
|Lilly Pulitzer line at Target crashes site|
A new report highlights how Oregon bankers are giving back to their communities.
Since 1932 Tidewater Transportation & Terminals (operating as Tidewater Barge Lines and Tidewater Terminal Company) has operated a multicommodity transportation and terminal company based in Vancouver, Washington. The friendly expression on the company’s shipping containers reflects the attitude of about 330 safety and community-conscious employees but belies how complicated the barge business really is.
The Port of The Dalles has run marine facilities since the 1930s, but they are part of a larger mission to strengthen the local economy. They focus on regional economic development with a strong bent toward adding good-paying jobs in high tech, manufacturing and other industries.
Thinking about an MBA? Join us for our upcoming Wine & Cheese Information Session to learn more about Concordia University's MBA program.
Providing attendees with unique taste of the Northwest Reception.
CFM Strategic Communications turns 25 this year and is celebrating with a revamped website, special events for firm alumni and clients, a special-label wine and a list of 25 stories about its client work over the past quarter century.


text:
Ah, yet another step backward into a failed past. I refer, of course, to our favourite government’s new Protection of Communities and Exploited Persons Act, a piece of legislation that criminalizes the purchase of sexual services.
To begin with, the bill isn’t even logical. It criminalizes buying sex but not selling it. While claiming that it considers “the vast majority of those involved in


text:
Is Ninja Gaiden’s Ryu coming to Smash Ultimate? Everything we know
Ninja Gaiden’s Ryu Hayabusa has been a possible candidate for Super Smash Bros Ultimate DLC for some time and with five slots remaining in Fighters Pass Volume 2, it’s getting likelier than he will be included.
Normally for a character to be added to Smash, the franchise the character is from needs some sort of history with Nintendo. Ninja Gaiden has just that, with the original trilogy of games released back on the NES.
While we are quite far removed from the golden era of Nintendo back in the 80s, that hasn’t stopped the likes of Ice Climbers, ROB and Duck Hunt from being immortalized as fighters. Clearly having NES representation is enough to scratch the surface and Ninja Gaiden has that and then some.
More recently, Ninja Gaiden Trilogy has been leaked for the Nintendo Switch and PlayStation 4. The since-deleted listing stated that Ninja Gaiden Sigma, Ninja Gaiden Sigma 2, and Ninja Gaiden 3: Razor’s Edge would release in March 2021. Having more Ninja Gaiden games on Switch definitely helps Ryu’s case, but that’s not all.
Ryu has been “leaked” before
Back in August of 2019, YouTuber ‘IAmShifty’ uploaded a video where he claimed that sources informed him Ryu Hayabusa would be the next Smash Ultimate DLC fighter.
While he was wrong and since then Terry Bogard, Byleth and Min Min have released instead, IAmShifty does have a good track record and has previously revealed that Isabelle, Incineroar and Ken would be coming to the game.
According to IAmShifty, his sources weren’t aware of Terry Bogard, but multiple people had still insisted that Ryu would be coming at some point. While there’s no telling who exactly the YouTuber’s sources are, the fact that at least two of them had claimed Ryu would be coming is quite interesting. Perhaps a sign that Nintendo was working on Ryu for a while now?
Nintendo isn’t done with 2020
Games journalist Irman Khan, who had inside knowledge of Nintendo approaching Disney to use Kingdom Hearts’ Sora in Smash, has claimed that Nintendo has some additional things to announce this year.
As a heads up, this is probably the last big thing coming from Nintendo this year. There’s still announcements in the form of smaller things and maybe another game or two, but they have likely shown their entire 2020 hand at this point. Make peace with that.
— Imran Khan (@imranzomg) September 8, 2020
“As a heads up, this is probably the last big thing coming from Nintendo this year,” he said, referencing the Hyrule Warriors: Age of Calamity reveal. “There’s still announcements in the form of smaller things and maybe another game or two, but they have likely shown their entire 2020 hand at this point. Make peace with that.”
The “smaller things” in question could very well be Smash DLC. Even leaker Tiffany Treadmore claimed on September 8 that Smash Ultimate would be getting a reveal “soon.”
Ninja Gaiden lines up with M-Theory
As Dexerto has previously reported, there is a very plausible theory amongst Smash fans that Nintendo purposefully removes logos for M-rated games during presentations so they don’t have to display the E-M ESRB compilation rating.
This theory implies this is the reason why the Fallout Vault Boy Mii costume was changed to “Smash Ultimate X Vault Boy” in North America while the rest of the world saw “Smash Ultimate X Fallout.”
Because Ninja Gaiden has M-rated titles, if Ryu was in fact in Fighters Pass Volume 2, it would make sense for Nintendo to remove all the game titles in the DLC screen for the sake of consistency.
With Tokyo Game Show fast approaching, it will be interesting to see if we get more news on September 26 during Koei Tecmo’s conference or if their TBA second half will be limited to Hyrule Warriors. We’ll have to wait and see.


text:
Taiwanese electronics manufacturer Luxpro is suing Apple for $100 million in damages after a court case to stop production of its Shuffle-esque MP3 players was overturned.
Apple took Luxpro to court alleging that the company had copied the design of the Shuffle. Although Apple won an injunction to stop Luxpro producing its version, the Taiwanese High Court later overturned the ruling.
Now Luxpro wants Apple to pay for lost revenues.
The Taiwanese courts said that Luxpro's player was “significantly dissimilar” to the Shuffle – we've included a shot of the player so you can judge for yourself.
Luxpro's chairman told the Financial Times that he wanted payment for lost revenues, and that the company is selling its “Super Tangent” players in Latin America and Eastern Europe.
Luxpro's latest players have a screen slapped on to them, although they still have the form factor of the Shuffle.


text:
New regulations drafted by Time-Warner (boo!) and passed by the Postal Regulatory Commission (double boo!) reduce mailing rates for mass-circulation magazines like Time and People while raising the rates for smaller, independent, free-thinking periodicals like Video Watchdog. Please take a moment to sign this petition as a personal favor to all your favorite limited circulation print publications.
My thanks to Sam Hamm for bringing this petition to my attention. The people who drafted it are hoping to collect 100,000 signatures and they're nearly there. Put them over the top and treat yourself to a good magazine!


text:
Westfield shopping magnate Frank Lowy likes to tell the story of how ££1000 invested in his company when it began in the 1950s would today be worth nearly $200 million.
There are very few stocks listed on the Australian Stock Exchange that could match such returns; little known dental group SDI is one of them.
Formerly called Southern Dental Industries, Melbourne-based SDI traded as low as 10 ¢ in 1990 and touched a record high of $12.20 on New Year's Eve 2003 an impressive 12,100 per cent gain.
An insightful investor with nerves of steel could have turned $5000 into more than $600,000 over the time period, excluding dividends.
But whereas Westfield today has a market capitalisation of more than $25 billion and is a mature business SDI is only a small cap worth $230 million and analysts believe it has plenty of growth ahead of it.
SDI undertakes research, development, manufacturing and marketing of specialised dental products. From its network of factories, loading docks and labs in the sleepy outer suburbs SDI makes a portfolio of dental amalgams, alloys, chemicals and tools used by dentists in 100 countries.
The company has also broken into the highly lucrative teeth whitening industry, and this year will launch a new range of its popular Radii tool a light curing device that is used to harden plastic resin fillings.
SDI's strength lies in its global distribution network; it exports 90 per cent of its product out of Australia and has subsidiaries in Brazil, Germany, Ireland, US and Japan.
Financially SDI has been a consistent star performer for years. It posted a 47 per cent net profit increase in 2003-04 to $8.03 million as revenue lifted 15 per cent to $44.5 million. The company has posted a 30 per cent plus profit growth year-on-year for the past three years.
The company also recently triggered a five for one share split, improving liquidity and calming what has been a volatile share price of late.
ABN Amro Morgans analyst Scott Power has an "add" recommendation on the stock, and believes it represents a value buy in the market.
"The company is growing both organically and through the addition of new products, exports from Australia to distributors grew in 2003-04 by 24 per cent while growth was also experienced in North America (12 per cent in local currency), Central South America (20 per cent), and the EU and Eastern Europe (36 per cent in local currency)," Mr Power said.
"The company is also further developing its Riva product line (glass ionomer cement).
"SDI plans to release a total of seven varieties of the Riva product, with one currently on the market. SDI estimates that market size for this product range at around $US400 million [$525 million]."
Roger Montgomery at Clime Asset Management said SDI is one of those rare companies that over time has managed to increase its return on an incremental rise in the equity of the business.
"Not many businesses can generate above average rates of return like this."
He said the true growth rate of the business is about 20 per cent (internal rate of return retained) and if that continues investors could consider paying a premium for SDI but not the premium now on offer.
"SDI is a great business, a fabulous business, it has relatively little debt but on the current share price it's not a bargain."
He said a share price closer to $1.60 would represent fair value. SDI closed yesterday at $2.00.
Fetching latest articles


text:
With November’s midterms still three months away, the predicted red wave may be breaking far from the electoral shore. Tuesday’s elections were another sign that Democratic voters are becoming more motivated.
In Wisconsin Mr. Trump notched another endorsement victory when Republicans nominated Tim Michels for Governor. It’s no mystery how he earned Mr. Trump’s favor. Asked at a recent candidate forum about the Jan. 6 riot, Mr. Michels said: “I don’t think he did anything wrong.” Asked about trying to decertify the 2020 election, he said: “I will look at all the evidence and everything will be on the table.”
Walmart coupon: $20 off your $50+ order
Up to $20 off any orders from any restaurant with DoorDash coupon code
Exclusive Expedia Coupon - 8% off Hotels with No Min Spend
Up to 15% off + free shipping at Wayfair
60% off running shoes and apparel at Nike without a promo code
25% off sitewide with this Target Promo Code


text:
Wheat futures in Chicago extended a rally amid worries about global shortfalls even after India said it would relax its order curbing exports.
India will allow traders to meet prior commitments, according to the country’s trade ministry. Futures fell as much as 3.8% in Chicago before reversing the losses, climbing 2.3% to $12.7625 a bushel, the highest price in two months. Futures have surged more than 60% this year, increasing the cost of everything from bread to cakes and noodles.
“Traders are still a little bit concerned that an ample amount of wheat won’t be exported out of India,” Terry Reilly, senior commodity analyst at Futures International LLC in Chicago, said by phone.
Heat waves have withered fields in India, prompting a government order dated May 13 to restrict shipments and safeguard domestic supply. Weather woes are also threatening output in the European Union, US and Canada, compounding shrinking production from Russia’s invasion of Ukraine, one of the world’s top growers.
India is making exceptions on export restrictions only for prior commitments made by private traders through irrevocable letters of credit, and for exports to countries that require wheat for food security needs, based on the requests of their governments.
The easing measures are not going to significantly add to the volume of wheat available on the world market, and weather worries persist in growing areas in the US, Farm Futures analyst Jacqueline Holland said in a note. Winter wheat conditions are suffering amid hot, dry weather in parts of the Plains, and farmers in major producers North Dakota and Minnesota are being kept out of fields from cool temperatures and rain, she said.
As for India, wheat consignments that have been handed over to customs for examination and registered on or before May 13 will be cleared for export. The government has also given the green light for a 61,500-ton shipment to sail from Kandla port to Egypt.
Traders have contracted to export 4.5 million tons so far in 2022-23, according to the food ministry. Turkey, like Egypt, has also been given approval to import Indian wheat
The decision to halt wheat exports has added to a growing wave of food protectionism worldwide caused by rocketing crop prices. Indonesia has banned palm oil exports, while Serbia and Kazakhstan imposed quotas on grain shipments.
Hard red winter wheat futures rose as much as 2% to $13.7925 a bushel in Chicago. Spring wheat climbed 2% to $14.1275 a bushel in Minneapolis. Chicago soy rose while corn fell.


text:
The technological devices or devices easier to use or considered suitable for the elderly have an important place in today's electronic classroom IFA Berlin. This is, among other things, of telephones phones with larger keys, robotic vacuum cleaners that do not back pain, as well as the latest developments in hearing aids.
Beate Munkelt, a dentist from Münster who came with her husband Andreas, explains that it is very difficult to find a cell phone not overloaded with options you do not need. "Very practical, stylish and easy to use", explains enthusiastically to the stand of one of the firms in Berlin. Meanwhile, Barbara Müller, a 70-year exenfermera came just to "see what's new" in the subject.
According to Eurostat, in Europe, Germany has the largest number of people over 65 years. "This is an important market and growing", says Markus Schmitt-Fumian, VP Gigaset, a German company specializing in mobile fixed.
Avoid devices that look like devices "doctors", he stressed, adding: "The design is very important because those who configure phones are not the seventies, but a daughter or a son", he adds. Users not necessarily all elderly, but there are also younger people who prefer using appliances easier or tougher, Schmitt-Fumian estimated. Nevertheless, the lounge hosts a daily tour of two hours for the elderly because the "demand has increased", says Dirk Koslowski, project manager of IFA, which this year opened to the public on August 31, after two days of presentation to the press. During one of these visits, Gigaset has a machine that hangs from the neck with emergency numbers and registered the company plans to launch next year.
Addition, "old people like sailing, golfing and yard work", says Eveline Pupeter-Fellner, CEO of Emporia, an Austrian company specializing in cell phones for seniors. Thus shows a phone with a reinforced structure that can also be used in water. Other devices have an emergency call button, an integrated lamp or a user's geolocation feature.
Katlun Thomas, charged in Germany for public relations of the U.S. company iRobot, believes the market for "assistance robots" to people will develop significantly. "There are type C-3PO (a robot from" Star Wars ") that opens cans or something, but will help to communicate", says. "It sounds like science fiction, but not too far from us", he says.


text:
Chinese smartphone maker Xiaomi is preparing to enter North America, but it isn’t quite the launch you may be waiting on.
The company, which was last valued at $45 billion by investors, has revealed plans to sneak into the continent by selling its Redmi Note 4 phone in Mexico. Fans can pick up the device from Coppel, Best Buy and Sam’s Club stores when it is stocked towards the end of May. It will also be available online via Amazon, Best Buy, Soriana, Elektra, and Walmart. Initially, Xiaomi is starting off with the Redmi Note 4, its budget but impressive phablet, for 5,499 MXN ($287) but it plans to offer the slightly smaller-sized Redmi 4X (3,999 MXN, $209), and others in the future.
Previously, Xiaomi sold phones in Mexico via partners but this upcoming launch will see it make a deeper push in the country.
In addition to the devices, Xiaomi is bringing its Mi Community app to Mexico. The Android app serves as a platform for Xiaomi’s fan community to connect with the company and keep up to date on new launches and offers. The app is well established in China — Xiaomi typically sells new devices there first — and the company said it plans to expand it to other Latin American markets soon. The company also has operations in Brazil, the homeland of its former international head Hugo Barra, but things didn’t go according to plan and it downsized its operations there last year following issues with taxation and manufacturing policies. Despite that setback, the company seems keen to expand in the region.
“Mexico is a really important market for us and acts as our starting point to reach the rest of Latin America,” Donovan Sung, director of product management and marketing at Xiaomi, said in a statement.
There’s no word on a U.S. launch date, although new head of global strategy Wang Xiang, who stepped in after Barra joined Facebook, recently told CNET that he believes Xiaomi phones will sold in the U.S. by 2019. If nothing else, Mexico isn’t all that far away if Xiaomi fans in the U.S. fancy a trip to pick up a device.
Xiaomi is strongest in China, but it has come under pressure at home at a wave of Android rivals including Huawei, Oppo and Vivo have found success with competitively priced phones and an offline sales strategy. Xiaomi, which began as an online-only brand, has responded with plans to expand its offline reach and regain lost ground. Its international expansion has seen it reach out to over 20 countries via a combination of local operations and sales partners. That’s largely been a mixed bag, with work to do. Only in India, does Xiaomi appear to be making a sizable impact.


text:
The pandemic has exacted a toll on businesses across the globe, forcing many to close and numerous others to operate in a diminished fashion.
All-Clad is among the large global companies that have had their mettle tested over the past 18 months. But according to one of its top officials, the firm is withstanding the heat of this outbreak as efficiently as one of its signature products does while atop a stovetop burner.
“We had a short shutdown and lost a little manufacturing time, making sure our workforce was safe. But we are back at full voltage,” Bill Groll, vice president of research and development, said during a video conference Wednesday.
All-Clad Metalcrafters LLC, respected and relied upon in kitchens from Avella to Ankara, is in the midst of having a golden anniversary. The Cecil Township-based company, manufacturer of cookware, ovenware, kitchen tools and accessories, is 50 years old.
A ribbon-cutting celebration three weeks ago included just about everything but a birthday cake, as Mayor Dave Rhome of neighboring Canonsburg declared May 21 to be “All-Clad Day.”
During the ceremony, chief operating officer Dan Taylor described the firm’s metal workers as “the most skilled in the world.” All-Clad has a payroll of 200-plus – about 160 union employees and 53 who are salaried.
All of All-Clad’s fully-clad cookware is produced in the factory along Morganza Road, on a 40-acre tract featuring a picturesque lake. A full 90% of its products are produced in the United States. Some aluminum items are made in China.
“Any product that is bonded metal is made in Canonsburg,” Groll said. “The thing that made us famous is made here.”
The company primarily supplies retail operators, but also sells online. And its factory sales are popular among consumers.
The company is following an incredible legacy of an incredible man. John Ulam was a metallurgist and innovator who, eventually, would be awarded more than 50 national patents. He also secured a contract from the U.S. Mint to make coins from bonded metal layers instead of solid silver, a process the Mint still employs.
Ulam learned he could develop high-quality pieces by bonding dissimilar metals – known as cladding. The end products retained heat and were chemically resistant, and would result in the production of cookware that would prove to be the foundation of this half-century-old operation.
He launched a business in 1967 called Clad Metals, which grew and morphed into All-Clad Metalcrafters in 1971.
“The early years were very slow, but steady,” said Groll, a 41-year employee who knew Ulam well. He worked directly with the founder for nine years, after being hired by him.
“He recognized a void in the cookware business and was interested in high-performance cookware,” Grollm said. “He wanted to produce the best bang for your buck.”
This was a family-owned business until 1989, the year Ulam died. Pittsburgh Annealing Box, which served a number of niche industries, acquired the company and, according to Groll, recognized All-Clad’s “most valuable property was cookware” and “put all of its chips” on that line of products.
“The ’90s were big growth years” he said of All-Clad. “The ’90s were a wild ride,” as the company worked feverishly to expand its production facility to keep up with a business that was growing exponentially.
All-Clad has been sold two times since. Waterford Wedgwood, an Ireland-based holding company, bought All-Clad in the late ’90s, then sold it in 2004 to the current owner, Groupe SEB, a large, French-based consortium. Groll praised the current owner for its “strong technical, engineering and financial support.”
All-Clad products are well regarded for their durability and performance. They are considered to be expensive, but worth the price, and adorn kitchens in numerous countries.
“Our cookware is for the serious professional or amateur cook,” Groll said during a tour of the Cecil plant two years ago.
He said the company has made changes, adapting to the times, including the use of robotics. Groll emphasized, however, All-Clad workers are integral to the operation, and will continue to be, considering the level of quality control that is necessary.
“Many, many, many hands and eyes touch and look at the product,” he said. “Quality standards are the lifeblood of our brand.”
Fifty years later, that brand continues to easily pass those mettle tests.


text:
Companies do not appear to have sought to benefit from high inflation by increasing their prices and boosting profits.
Latest articles and blogs
Manufacturing industries, in particular, are suffering from supply chain problems and rising costs. The results of a business survey show that the majority of companies believe they can replace the lost volume of exports to Russia with new markets.
The financial position of households and businesses has on average remained good through the crisis, with the exception of the service industries directly impacted by COVID-19. Support measures have weakened the public finances.
Most Finnish companies have suffered a drop in turnover as a result of the corona crisis. Service industries are hard pressed. Cost adjustments and funding arrangements have saved jobs.
The method by which agreement is reached on wages in the Member States participating in EMU has a particular significance for employment and growth. Optimal wage formation defines the development of competitiveness.
The number of low-productivity firms in Finland is large, but average productivity is being raised by a small pack of frontrunners. Even in such frontier firms, productivity growth is mostly torpid.
Unprofitable firms occupy economic resources and slow down productivity growth.
The few ‘superstars’ of high productivity and profitability stand out in the large mass of firms. A one-size-fits-all economic policy is unsuitable in an environment of considerable heterogeneity in productivity and profitability.
Among the set of new firms there are those known as ’gazelles’, firms that rapidly increase their employment. This small group of high-growth firms generates a disproportionate share of new jobs.
One reason behind the shortage of new jobs is the lack of new firms, which create the largest number of jobs. The frozen labour market will slow restructuring of the economy and weakens the outlook for growth.


text:
Marks & Spencer is still struggling with problems at its hi-tech distribution centre in Castle Donington, even after the trading peaks of Black Friday and Christmas.
Well-placed sources said that the 900,000 sq ft warehouse, which opened 18 months ago, could be processing a third fewer items than it had expected to be handling by this time. The shortfall is a result of communications problems between the various systems that handle products within the Castle Doningtoncomplex, compounded by record sales online.
M&S had to implement contingency plans, storing dozens of container-loads of goods at a separate warehouse over the peak season. It was also forced to set aside plans to distribute goods destined for stores from the facility to ensure the delivery of online orders, according to the sources.
The retailer said it was able to meet all its promised delivery services and was handling all its online orders at Castle Donington. It insisted that its contingency plans for peak periods always included additional warehouse space. A spokesperson said: “Our next-day delivery service is currently available and has been since before Christmas. Following our first full peak period at Castle Donington, we continue to optimise the facility.”
M&S was deluged with complaints from shoppers before Christmas after it was forced to delay deliveries of online orders by up to two weeks and withdraw next-day delivery services to stores as Castle Donington struggled to cope with the volume of orders placed over the Black Friday promotional weekend.
This week, a small number of shoppers continued to express disappointment on social media, with several saying orders had been belatedly cancelled because stocks were found to be unavailable days after their orders were confirmed.
Analysts are expecting the problems at M&S’s warehouse to hit performance at the retailer. It unveils its Christmas trading statement today and is struggling to turn around years of falling clothing sales.
Jamie Merriman, an analyst at Bernstein Research, wrote in a note this week: “Management had expected Marksandspencer.com to return to sales growth in Q3 after a substantial investment phase, but we expect that this return to growth will now be further delayed.”
The company has previously denied that there were problems at its distribution centre, but online sales slumped 6% in the six months to the end of September. Nearly 5 million customers had registered on the new site by the start of November – 1 million fewer than on the previous one. Many shoppers have reported that the new site is difficult to navigate.
M&S’s new delivery centre is part of a £1bn programme to update the retailer’s old-fashioned IT and distribution systems to ensure it has the right items in stores and is able to handle increasing demand for home deliveries.
M&S had initially hoped to cut costs by axing more than 50 warehouses and instead using three vast distribution centres. But it pulled out of building one of the new facilities last year and now expects to have six national distribution centres by 2016-17.
Leave a Reply