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open Banking E-Wallets
Open Banking E-Wallets
UK-based payments solutions company Clear Junction has announced the launch of its new e-wallet, which has been designed specifically for open banking providers.
The new digital wallet aims to address a common problem for open banking services: payment initiation service (PIS) licenses are difficult to come by and typically do not allow banking providers to hold merchants’ cash. As a result, merchants are forced to sign two separate agreements, one with an opening banking provider and the other with a payments solutions firm.
However, with Clear Junction’s new e-wallet, opening banking providers will be able to integrate payment solutions into their platform, providing merchants with a simple one-stop-shop platform for conducting business.
“Through our new e-wallet offering, open banking providers are able to enhance their customer offering, making the entire process of sending and receiving funds quick and easy,” explained Berivan Demir, product and banking relationship director at Clear Junction.
Image Credit: Clear Junction


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We take a look at Q1’20 funding trends, areas of focus, and valuation data for China-based AI startups.
China-based AI startups saw deals slide in Q1’20, as Covid-19 peaked and investors shifted their focus on later-stage bets.
Despite the market volatility wrought by the virus, China invested heavily in AI infrastructure to combat Covid-19. Tech giants like Alibaba and Baidu stepped up to hone diagnostics tools and virus analysis algorithms; and AI heavyweight SenseTime deployed contactless temperature detection software as well as a biometric identification system for people wearing masks.
Below, we spotlight funding trends in the China AI space, top areas of investor focus, and the most well-funded AI startups in the country.
AI startups in China saw financing jump by 63% QoQ with $545M raised — nearly half of all AI financing in Asia in the first quarter of the year. This increase comes after an 81% rundown since Q3’17, but funding is still down 59% YoY. Deal count hit a 3 year low, with 52 deals.
Seed-stage deal share plunged to an all-time low of 13% in Q1, underscoring the effort to double down on later-stage bets. Mid-stage deal share also surpassed early-stage in Q1’20 to reach 50% of all deals.
Areas of focus
The areas that have garnered the most investor attention over the past 5 years are: speech/NLP(G)/computer vision, which has garnered $6.1B across 163 deals; finance and insurance, with $1.3B spanning 88 deals; and healthcare, which has raised $585M across 102 deals.
The US has recently placed China-based facial and voice recognition startups under greater scrutiny due to privacy concerns. In October 2019, the US government blacklisted top China-based AI startups from purchasing tech from US companies without approval.
However, commercial opportunities for biometric AI startups have flourished in China. In addition to the biometric identification system, SenseTime also struck a partnership in Q2 with the People’s Bank of China — which has announced plans for a national digital currency — to build out AI-focused fintech solutions.
Most well-funded AI startups
TikTok parent Bytedance, valued at $140B, holds the title for the top-funded AI startup, with $3.1B in total funding. In second place is facial recognition firm SenseTime, with $2.6B under its belt. Electric vehicle maker NIO, which went public in September 2018, is third on the list, with $2.2B (including pre-IPO funding).
For more funding trends, valuation data, and geographic spotlights, clients can check out CB Insights’ interactive Story on AI In Asia: The Impact Of Covid-19 On Funding, Exits, Valuations, And R&D.
This report was created with data from CB Insights’ emerging technology insights platform, which offers clarity into emerging tech and new business strategies through tools like:
- Earnings Transcripts Search Engine & Analytics to get an information edge on competitors’ and incumbents’ strategies
- Patent Analytics to see where innovation is happening next
- Company Mosaic Scores to evaluate startup health, based on our National Science Foundation-backed algorithm
- Business Relationships to quickly see a company’s competitors, partners, and more
- Market Sizing Tools to visualize market growth and spot the next big opportunity

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GNC-branded product portfolio gets boost with help from Shadow Beverages and Snacks
PITTSBURGH — GNC on Monday announced an exclusive licensing agreement with Shadow Beverages and Snacks, the producer and distributor of Ironclad Energy + Hydration and No Fear Energy drinks.
The deal is expected to push the GNC brand name beyond its retail base and partnership with Rite Aid in the drug channel. Under the terms of the licensing agreement, Shadow Beverages and Snacks will produce a line of ready-to-drink products that will be marketed under the GNC brand.
"This exclusive licensing agreement with Shadow Beverages allows the GNC brand to expand and grow well beyond GNC’s own retail and online outlets, and [to] service a much broader and more diverse audience of active consumers looking for products to help them live a healthy lifestyle with products they trust," stated Tom Dowd, GNC EVP.
GNC will leverage its 75 years of expertise, quality and name recognition to help develop true better-for-you drink lines across multiple categories. Shadow Beverages will develop, produce, market and sell drinks under the GNC Live Well trademark, which will be available across a wide range of retail outlets, the companies stated. It is anticipated that the first products developed under the agreement will go into distribution in third quarter 2011.
HDMA names new VP communications
ARLINGTON, Va. — The Healthcare Distribution Management Association on Monday named John Parker VP communications, where he will serve as the association’s lead communications strategist.
Prior to his new role at HDMA, Parker most recently served as the senior director for external affairs at UnitedHealth Group, where he led the company’s communications efforts during the healthcare-reform debate. Prior to UHG, Parker oversaw external communications for the Blue Cross and Blue Shield Association. While at the Association of American Medical Colleges, Parker served as the primary spokesman with the media on key issues in academic medicine, and managed the association’s external publications.
Parker’s initial exposure to health care was as an editor and reporter for FDC Reports (now Elsevier Business Intelligence). He holds a B.A. from the University of Wisconsin-Madison.
ZonePerfect pairs sweet, salty in new line
ABBOTT PARK, Ill. — Abbott on Friday introduced a new line of ZonePerfect Sweet & Salty nutrition bars. The new ZonePerfect cashew pretzel and trail mix bars combine sweet and salty flavor varieties while providing nutrition. ZonePerfect Sweet & Salty bars have 10 g of protein and 19 vitamins and minerals.
To celebrate the launch, the ZonePerfect brand is inviting consumers to treat their sweet and salty sides by requesting a sample bar on ZonePerfect’s Facebook page. Available now, taste seekers can share the offer with their friends while savoring a Sweet & Salty bar for themselves — while supplies last.


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The Awesome Wrestling Entertainment Night of Legends two-disc DVD set is now available for purchase after a successful project led by Augusta Free Press LLC.
AFP produced the DVD from footage and commentary from the AWE live pay-per-view event emanating from Augusta Expo in Fishersville on Oct. 15. AFP President Chris Graham, who appeared on the pay-per-view telecast as a commentator, led the effort to integrate the footage from the live broadcast with footage from an hour of matches that were contested before the broadcast began.
AFP Vice President Crystal Graham was in charge of packaging, including design of the DVD jacket and the slip cover for the discs, and oversaw production and delivery of the finished product.
AFP is now working on contract with AWE to market the DVD and handle sales and delivery of the product to consumers.


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Thought leadership webinars covering controversial topics.
The Dark Net, AI and Automatic Facial Recognition, Space Technology and more coming soon for 2022
Interview with Jutta Devenish Managing Director, Zeitgeist Communication June 2020: AI for supply chain forecasting? Listen to the interview with Pauline Norstrom, the founder of Anekanta Consulting on the use of artificial intelligence to improve your supply chain forecasting. Pauline also shares very thought-provoking insights into how AI can be used during a health pandemic such as COVID-19.
Security Industry Association Cybersecurity Advisory Board: Risk and Exposure webinar 12th November 2020. A series of discussions from esteemed panelists on the subject of end point security, governance and horizon scanning (deep fakes, AI and convergence). Click through the image above to reach the recording of the webinar.
CONXTD Thinking with Pauline Norstrom April 2020 (recorded pre-lockdown 2020).This week, Chris and Tom speak to Pauline Norstrom, Founder and CEO of Anekanta Consulting, an innovation company specialised in AI, ethics and governance in the defence and security sectors. Pauline talks about her role in the marketisation and adoption of digital based recording, a groundbreaking step in the development of video recording in today’s security landscape. We also hear of her influence on the standardisation and regulation of the security industry in her tenure at the BSIA as the Chair of the Board. She also talks of her passion for motorsport and her success in experimental vegan cooking.
Interview with Holly Grace Williams, Managing Director of Secarma Ltd, January 2020
According to the BSIA’s report on CCTV surveillance, there is approximately 6 million cameras in the UK. But who owns these cameras and how is the data being stored and used? Pauline Norstrom, the Founder & CEO of a boutique consultancy focusing on technology for video surveillance, joins us to discuss facial recognition and the future of AI in the industry.


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A nonprofit is giving children in Eastern North Carolina bikes to ride this holiday season.
The Spokes Group of Eastern North Carolina has teamed up with the Salvation Army to give a bike and helmet to 350 needy kids.
Walter Cannon and Tony Cannon, owners of a company that distributes food-serve equipment, launched the Spokes Group four yeas ago, pulling money out of their own pockets to buy bikes for the less fortunate, said Angela Hill, director of operations for Cannon Marketing.
“When Walter was a young child, he got his Christmas from the Salvation Army,” Hill said. “He remembered what it meant to get a bike, how it made him feel, how it has touched his life always; that was his main goal, to share that with others.”
Over the last four years, the Spokes Group has donated 800 bikes to children in Kinston, Goldsboro, Morehead City, New Bern, Rocky Mount, Smithfield and Wilson. This year, the Salvation Army in Smithfield will get 20 bikes.
This is the first year the group has accepted donations; $70 will buy a bike and helmet.
“Our goal was to give them to all Salvation Armies under the Eastern North Carolina umbrella,” Hill said. “This was our first year with donations, so we were not able to get every location, but we got well over half.”
The Spokes Group buys the bikes directly from the manufacturer to save money. On Nov. 29, the group held an assembly party in Kinston. About 50 people – friends, church family, Boy Scouts and others – came to help the nonprofit assemble its bikes.
While this year’s fundraising campaign has closed, but the Spokes Group of Eastern North Carolina is already accepting donations for next year. The nonprofit hopes to help 500 kids next holiday season.
Anyone wishing to donate can go to spokesgroupenc.org, which accepts PayPal and debit and credit cards. All money goes to buy bikes; the founders personally pay any overhead costs, Hill said.
A donation this year could make a nice Christmas gift for a needy kid next year, Hill said.
“If you have somebody you have no idea what to buy for, you can donate in their name,” she said. “We would be more than happy to send them a card.”


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Kate, Princess of Wales, 41, took a visit to the Maidenhead Rugby Club on Wednesday.
The Princess visited the rugby club to discuss the Shaping Us campaign and the role the community plays in supporting children.
For this visit, Kate wore £18 gold hoop earrings from the brand Orelia, titled "Chain Huggie Hoop Earrings".
Their description says: "As seen on the Duchess Of Cambridge. Make a classic style statement with these Chain Huggie Hoop Earrings in Gold.
"Featuring a small gold hoop earring with a trending chain texture detailing, complete with an easy-to-wear click clasp fastening."
According to the brand, this was the 15th appearance of Kate wearing these gold hoop earrings.
Collette Flood, the founder of Orelia exclusively told Express.co.uk: "So thrilled to see HRH The Princess of Wales wearing our chain huggie hoop earrings again. She's worn them on at least 15 occasions in the last couple of years."
Kate debuted these earrings in 2021 when she frequently made video call appearances during lockdown.
Then in March 2021, the Princess wore the earrings the day after Meghan and Harry's Oprah Winfrey interview at an engagement in east London.
Pippa Middleton won't eat American breakfast staple - it 'doesn’t do it for me' [LATEST]
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After several occasions of wearing the jewels in 2021 and 2022, Kate wore the earrings for the first time in 2023 back in January during a visit to Windsor Foodshare.
Wednesday was only the second time that the Princess has donned the jewels in 2023.
The style expert explained why they "love" the fact Kate wore their earrings for the world to see on Wednesday.
Collette explained: "I love that Orelia has become part of her jewellery staples that she relies upon as the finishing touch to her outfits."
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Kate paired her earrings with an Umbro England rugby ladies' training jersey during Wednesday's visit to Maidenhead.
If royal fans wish to purchase the same T-shirt, they can buy it from Kitbag for £60, although it is currently on sale for £27.
In addition, the Princess wore £34 Sweaty Betty jogger trousers in navy, which were a brand new purchase for Kate.
For footwear, Kate wore brand new Lululemon Chargefeel low women's workout shoes in white, which originally cost £128.


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Turkey's annual inflation rate down to 4-month low
Turkey's annual inflation rate fell to 10.90 percent in June, reaching its lowest level for the last four months, the Turkish Statistical Institute (TurkStat) announced on Monday.
Consumer prices in the sixth month of the year dropped by 0.80 percentage points, down from 11.72 percent in May, TurkStat said.
Monthly inflation was also down, declining 0.27 percent in June compared to the previous month.
The report showed the highest monthly increase was in education, up 1.05 percent, while the main drivers of yearly consumer prices were alcoholic beverages and tobacco, together up 21.70 percent.
The median estimate of an inflation expectation survey prepared by Anadolu Agency's Finance Desk, completed with the participation of 17 economists, was a zero-percent change on a monthly basis and 11.20 percent on an annual basis. The economists' expectation for the country's year-end inflation rate was 9.79 percent.
The new data was in parallel with recent Turkish Central Bank expectations which were released upon the institution's latest Monetary Policy Committee Meeting in June.
The Turkish Central Bank had expected a decline in the inflation rate after June, as it said food prices decreased after curbing measures taken by the government.
According to TurkStat, the highest monthly decrease was in clothing and footwear, with 1.25 percent. The consumer prices for food and non-alcoholic beverages fell by 1.06 percent, transportation 0.84 percent, communication 0.39 percent and recreation and culture 0.14 percent.
Commenting on the inflation rate, Enver Erkan, analyst at KapitalFX, said the fundamental factor in the data was the decline in food and non-alcoholic beverages prices.
"Most of that came from seasonal effects; we see the effects of measurements taken by the Food Committee in the upcoming months. The food supply will be supported by imports in the short term, in order to control the prices," Erkan explained.
Erkan also said domestic food production had been affected positively, thanks to good weather conditions, including plenty of rain, in May and June.
He also stated the adverse effect of foreign exchange rates had also been abolished as core inflation slipped to 9.20 percent.
"The fall of the consumer price index will continue in July. After the summer, inflation will rise again to higher levels," Enver added.
He said the change in exchange rates would be decisive for the year-end inflation rate which he expected to reach a single digit.
Vahap Tastan, research specialist at Alnus Yatirim, said the inflation rate saw its lowest level since February after a peak in April of 11.87 percent.
The inflation rate may see another peak in August and September; however, it will not be as high as the April level, he noted.
"We expect that the rate will continue to decrease gradually in the last quarter of the year," he added.
Tastan stated that policymakers do not only have to intervene on food prices but also in tourism-sector prices -- which saw a second highest monthly increase in June.
In June, consumer prices for hotels, cafes and restaurants rose by 1.03 percent, miscellaneous goods and services 0.52 percent, furnishing and household equipment 0.48 percent and housing 0.31 percent, TurkStat said.
Tastan recommended policymakers set up a tourism committee, similar to the Food Committee.
Hilmi Yavas, an economist at Seker Invest, said the inflation rate was far below market expectations.
"This is driven by a decrease in food and energy prices. Core inflation is weak on the back of core goods. It seems that the increase rate of core services has also slowed down," he added.
Yavas noted if food prices continue to decrease, inflation risks would decline.


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After Orange’s presentation, a panel titled “The Reality of Deploying the Latest Mobile Money Innovations” started. Participants included:
- Dag-Inge Flatraaker, Chairman M-Channel Expert Group, European Payment Council
- Mung-Ki Woo, Vice President, Payment and Contactless, Orange – France Telecom Group
- Hannes Van Rensburg, CEO, Fundamo
- Steve Granek, VP Business Development, Neustar
They’ve discussed hot topics such as NFC, mobile ticketing, mobile bill and utility payment, and 2D barcodes.
I must admit I haven’t heard much new – it was the usual “it’s coming and it will revolutionize the way we live and work” talk.
Here’s the recap:
- Mung-Ki argued that the best solution is to deploy contactless payments through SIM card, as people switch phones. He also talked about mobile payments as being a value-proposition not just for mobile operators, but for all stakeholders.
- Hannes agrees with the point, adding that his company was one of the first ones to support the idea.
- Steve Granek pointed out that Neustar sits at the intersection of all parties involved, adding that the industry evolved over time and that now operators and banks realize they need to work together to bring mobile payments to life.
- Dag-Inge talked about the regulatory framework.
- Finally, all participants agreed there’s a big potential in mobile payments.
As I said, nothing new. After the panel, it was a launch break, which I used to take some photos of the event…


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Xolo rolls out AMD Powered Windows Tablet at CES 2014
New Delhi, India, January 11, 2014: Xolo is reportedly now coming up with an AMD powered tablet that will run on the Windows operating system. The tablet, known as the Xolo Win, was unveiled at the CES 2014 event in Las Vegas.
With this Xolo Win tablet, Xolo has now teamed up with processor makers including Nvidia, Intel, Broadcom, Qualcomm and MediaTek to power its devices. The Xolo Win tablet sports the AMD A4 Elite Mobility dual core processor, which clocks in at 1 GHz. It also comes with the Radeon HD 8180 graphics processing unit. The device has a 25.6-cm (10.1-inch) display, which offers resolutions of 1,366 x 768 pixels along with 2 GB of RAM. It has an internal storage of 32 GB.
In addition, reports say that Xolo’s new tablet has a 2 megapixel rear camera along with a 1 mega pixel front camera and a battery life of 7 hours. In addition, the device apparently has seven hours of battery life.
The Xolo Win will reportedly be launched in India by the end of the month.
© Mouseworld Now News Service


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Man Delivers Food At No Extra Charge To Neighbours In Yishun
Yishun has been the victim of endless shaming for being an unpleasant neighbourhood.
But one resident’s act of kindness will crush those rumours and make Yishun a great neighbourhood again.
Since July, Mr James Chen has been delivering food to his neighbours at the Signature condominium and the nearby The Criterion at no charge.
The 37-year-old senior marketing manager offers this free service four times a week.
Started as a foodie but now he delivers
Mr Chen’s WhatsApp group for the service began as a food interest group with only 10 members.
Most of them didn’t have time to visit the food places they discussed, so Mr Chen stepped in to save the day.
An avid foodie who travels around Singapore to get food for his family, he decided to start taking orders from his neighbours.
Word of his thoughtful gesture spread and the WhatsApp group grew to include more than 90 people.
Going the extra mile
Mr Chen only receives payment for the food that he buys — delivery is completely free of charge.
He explains that this allows him to share and help his neighbours out.
And he doesn’t limit his visits to nearby areas. He once drove to Westgate mall in Jurong East to buy Taiwanese steamed cakes.
Mixed reactions, but kindness trumps the haters
Netizens on Facebook have varying opinions on Mr Chen’s free food delivery service.
Many commended him for his gesture, praising him for being “considerate”, “thoughtful” and “kind”. One even mentioned how lucky residents are to have a nice neighbour like him.
A few who mentioned Yishun seem to embrace Mr Chen’s story as a refreshing and optimistic take on the neighbourhood.
Of course, good news never comes without its fair share of haters. Typical complaints are directed at Mr Chen hogging up queues with his large number of orders.
However, it generally seems that netizens are reacting positively to Mr Chen’s story.
People even asked for his number to see if he could expand his services to other neighbourhoods.
Not all neighbourhoods can have free food delivery like Yishun
It’s every Singaporean’s dream to have food delivered to their doorstep for free.
But kind souls like Mr Chen can’t serve people island-wide and come to our rescue with free food delivery.
Looks like the rest of us will have to settle for the food delivery services available now. At least Deliveroo has a new unlimited delivery subscription plan.
Or we could just move to Yishun and find an apartment at Signature or The Criterion.
Featured image from Google Maps and Shin Min Daily News.
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Mobile TeleSystems Touches Six-Week Low as Profit Declines 25%
OAO Mobile TeleSystems, Russia’s largest mobile-phone operator, reached the lowest level in six weeks in New York after reporting third-quarter earnings fell on increased market competition.
American depositary receipts of Moscow-based MTS fell 0.3 percent to $13.91 at the close of trading in New York after declining as much as 4.9 percent to $13.27, the lowest intraday level since Oct. 7. The company said today net income in the three months to Sept. 30 slid 25 percent to $362 million.
If competition stabilizes, the entire market will benefit, Alexey Kornya, MTS’ chief financial officer, said in a statement issued by PR Newswire.
“The main concern is tough market competition,” Anna Lepetukhina, an analyst at Troika Dialog, which has a “buy” recommendation on MTS shares, said in a phone interview today from Moscow. “Due to the competitive market landscape among Russian mobile service providers, over several quarters we’ve been seeing deteriorating financial results among mobile service operators.”
To contact the editor responsible for this story: David Papadopoulos in New York at firstname.lastname@example.org


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Believing a national chain drugstore will soon sweep away his business, one small-town, white-smocked pharmacist finds himself seeking out an inevitable analogy time and time again.
''The phrase is beaten,'' said Batavia druggist Bob Fondriest, ''but it is a David and Goliath kind of issue. Whether I have the rock or not, I don`t know.''
The rock, he hopes, is a stack of petitions signed by 2,400 customers and area residents who agree that Batavia does not need a Walgreen Co. drugstore in the same plaza as Fondriest`s Johnson`s Drug Store.
It is a fight that has been waged countless times across America as waves of growth leave behind golden arches and goateed colonels. But it is a fight that is rarely won.
Elsewhere in the Fox Valley, where some feel chain stores clash with the quaint atmosphere of the river towns there, a similar conflict arose last spring.
Shopkeeepers in Geneva recoiled when they learned the exhaust fans of a Pizza Hut would soon be blowing into the Victorian air of their Third Street shopping district.
Despite the efforts of nearby store owners, the ovens were fired up and have been turning out pizzas all summer.
But in the three weeks since Batavia Plaza`s owners announced that Walgreens would be moving into town next spring, Fondriest has been getting the kind of support Frank Capra might have scripted for a film.
Thousands of people signed the petitions he ran off on the little copier in his store. Elderly customers who don`t get out much have sent him cards of support.
''He`s the nicest, sweetest man, and he`s got a beautiful family that he is trying to raise here in Batavia, and I think it`s just a shame,'' said Eva Beckman, 57, an 18-year resident of the town.
At stake, Fondriest believes, is a tradition of ''community pharmacy''
that he bought into when in 1980 he purchased Johnson`s Drug Store, founded in 1914.
The 38-year-old pharmacist has worked in drugstores since he was 15, all the while dreaming of his own store in a small town where he could deliver medicine to shut-ins and fill emergency prescriptions late at night.
And with $160,000 invested in a recent move from the old storefront to the plaza, Fondriest has much to lose.
''My whole future is on the line here,'' said Fondriest. ''The town is behind me in terms of support, but you can`t open the newspaper or turn on the TV without seeing Walgreens, Walgreens, Walgreens.''
His response-as he says, his rock against the corporate Goliath-is in the petitions. He has even put together a small press packet to hand to reporters. ''It is all or nothing here,'' he said. ''My view is that if they come in, they will put us out of business, maybe in a month, maybe in a year. But it is inevitable.
''I hope that Walgreens, with all their muscle, will say that they don`t want to be perceived as the kind of company that would run a small guy out of business,'' said Fondriest.
That is unlikely.
Through a spokesman, Walgreens said it has signed a lease for the space at the Batavia Plaza and intends to open the store next spring.
''Our intention is not to put people out of business, it is to find viable locations for our stores,'' said spokesman Tom Mammoser.
George Rosenbaum, who conducts studies on drugstores for the Chicago market research firm Leo J. Shapiro and Associates, said that even those people who signed Fondriest`s petitions will likely become Walgreens customers.
''There is, in these situations, a lot of sentimental uproar,'' said Rosenbaum.
''But the old shibboleth that chains are evil and that they are monopolies and that they are destroying small businesses in America, people no longer buy into this,'' Rosenbaum said. ''The thing that people buy into most of all is that they enjoy choices in the kinds of retail stores they can shop at.''
Batavia Mayor Jeffery D. Schielke said that on advice of the city attorney he could not comment on Walgreens` move into the space, which was vacated by a Jewel Food Store. But Schielke did speak about chains in general. ''From what I see, chains are acceptable to people in the Fox Valley, as long as they do not compete with an existing, long established business,''
said Schielke. ''When there is screaming and hollering is when they compete with somebody nearby.''
And so the chains, echoed Geneva Mayor William Ottilie, will continue coming to the Fox Valley.
''Chains are often good anchors,'' said Ottilie. ''These small businesses that sometimes don`t want them need traffic to survive, and the chains provide that traffic.''
But none of this is comforting to Fondriest`s supporters.
''The town just isn`t Batavia anymore,'' said Beckman. ''That`s what makes a town, the little stores.''


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Autochek, the automotive technology company, has announced a partnership with Appzone Group, a FinTech organisation, to provide Nigerians with access to car financing.
The partnership will see the Autochek platform integrating with Appzone’s proprietary digital core banking service, BankOne, in facilitating access to credit from over 400 Microfinance institutions for Nigerians.
Africa’s automobile is worth $45 billion a year, with only a five per cent financing penetration rate. Autochek’s partnership with Appzone is geared towards upending that figure and giving the power to the customer.
Autochek Chief Technology Officer Chetan Seth said the credit sourcing process starts with the listing


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This is the web version of dot.LA’s daily newsletter. Sign up to get the latest news on Southern California’s tech, startup and venture capital scene.
With Southern California’s drought reaching emergency levels, water restrictions are cropping up across the region. The Metropolitan Water District of Southern California is demanding that local agencies reduce consumption by 35% and limit outdoor watering to one day a week in parts of Los Angeles, San Bernardino, and Ventura counties. That adds to a recent executive order by Gov. Gavin Newsom, who declared that the state’s Water Board must consider a ban on the watering of decorative grasses around commercial, industrial, and institutional areas.
Simply put, Southern Californians must find a way to make due with 80 gallons of water per person per day (the average SoCal resident currently uses somewhere between 100 to 125 gallons of water per day). And if we can’t curb our water usage, stricter cuts—including a ban on all outdoor irrigation—could come down as early as September.
But while restrictions aimed at residential water use are important and will be vital to surviving the drought, the fact is that “urban” water usage is a drop in the bucket compared to agriculture, which consumes four times as much H2O in California.
Seeing how this is a tech website, maybe you can guess where I’m going with all this: Is there a technological solution for growing plants with less water? Yes, there is.
Vertical farming is picking up real steam in Southern California. As the name suggests, the technique revolves around growing crops vertically, often forgoing soil in favor of a hydroponic system where roots dangle in a mixture of water and nutrients. This reduces the geographic footprint of a farm substantially, and its water consumption, too. Because there’s no runoff, water waste is dramatically reduced compared to traditional farms—with some setups able to grow an equivalent amount of crops with up to 95% less of the wet stuff.
In Los Angeles, the big name in vertical farming is Plenty, which we’ve covered in the past. The San Francisco-based unicorn is currently growing a host of leafy greens in a building in the middle of Compton, and plans to further scale with the help of a $400 million Series E funding round it raised in January.
In addition to taking up less water and land, vertical farming also brings fresh produce closer to end consumers. Because vertical farms can be placed in dense urban areas and grow produce year-round in a climate-controlled environment, they significantly cut down on the carbon emissions required to ship fruits and vegetables to their end destinations.
Of course, there are limitations to what types of crops can be grown on a vertical farm. So far, the technology has only really been successfully applied at scale to leafy greens, herbs, and a few types of berries. That won’t do much to help California reduce the water needed to grow staple crops like grapes, almonds, oranges and walnuts—but then again, the technology is still relatively young.
There’s a strange logical fallacy that people often fall victim to when discussing environmental efforts. It goes something like: “This isn’t the biggest issue, so we shouldn’t focus our efforts here.” Is banning plastic straws going to clean up the Great Pacific Garbage Patch? No. Would eating less red meat eliminate global CO2 emissions? No. Is vertical farming going to solve Southern California’s drought? No.
But solving the climate crisis requires a million tiny victories like these, which help us progress to where we need to be. The gains from embracing vertical farming alone won’t mean anything if we don’t make a drastic shift toward renewable energy sources, zero-emission vehicles and other sustainable solutions—but that doesn’t mean they don’t matter. — David Shultz
The new Orange County venture firm is the brainchild of investor Neal Rickner, startup incubator Octane and Sustain SoCal, a network of professionals focused on clean-tech development. It will target seed-stage companies in SoCal, having already invested in two companies.
Some of New York City's largest pension funds have filed suit against the Santa Monica-based video game publisher, claiming that CEO Bobby Kotick is responsible for devaluing their investments by failing to address allegations of sexual harassment and discrimination at the company.
The fallout from Netflix’s disastrous first-quarter earnings continues with a new shareholder lawsuit that claims the streaming giant misled investors about its ability to sign up more subscribers.
The Culver City-based social media app is rolling out a new advertising program that promises to give marketers exposure through its top-performing videos while also providing creators with a cut of advertising revenues.
Come join the dot.LA team for a fun and enlightening evening convening top proptech founders, investors and operators to mingle and discuss how SoCal real estate startups are reshaping the world’s largest asset class. Interested in attending? Let us know!
What We’re Reading Elsewhere...
- Caltech breaks ground on its new sustainability center.
- L.A.-based Magnify Ventures debuts a $52 million fund aimed at digitizing health care.
- Immi, an app aimed at "democratizing" 3D animation for creators, launches with backing from some big celebrities.
- The L.A. Kings are celebrating their playoff berth with an NFT drop from Crypto.com.
- A new report looks at efficiencies that automation could bring to L.A.'s ports, just ahead of union contract negotiations.
- Future Acres Signs Deal to Bring Robots to More Farms - dot.LA ›
- California Has a Drought Problem. This Tech can Reverse It - dot.LA ›
- Plenty's Vertical Farm Will Soon Start Hiring in Compton - dot.LA ›
As part of its effort to “disrupt” the food industry supply chain, Santa-Monica based automation incubator Wavemaker Labs has added—and revived—a new piece of technology that promises to change the game for apple orchards.
In October, Wavemaker acquired the intellectual property behind agtech startup Abundant Robotics’ autonomous apple-picking technology. Wavemaker is now relaunching the technology under the name Abundant Robots and taking aim at a major segment of the agriculture industry—one that generates around $5 billion annually for American apple farmers, according to the U.S. Department of Agriculture.
Hayward, Calif.-based Abundant went under last year, citing difficulties “develop[ing] the market traction necessary to support its business during the pandemic.” Despite that failure, Wavemaker Labs founder and CEO Buck Jordan was convinced that the technology behind Abundant was solid, even if the startup’s execution ultimately failed.
“COVID essentially just killed their harvest season and killed the progress they needed to make in order to get the next round of financing,” Jordan told dot.LA. “[Abundant] kind of had to invent everything from scratch, and they’ve done a really great job. But there’s a lot of [technology] that’s cheaper off the shelf that can be used and swapped in.”
Abundant Robots’ automated apple-picking machine grabs an apple.Courtesy of Wavemaker Labs
Jordan, who is fond of statistics, notes that around 87 million metric tons of apples are produced globally each year—making it “far and away, in terms of tree fruit, the biggest category that there is.” He adds that harvesting labor accounts for roughly two-thirds of the cost that consumers pay for an apple at the grocery store, with farming costs only projected to grow in the coming years.
This is where Wavemaker sees the opportunity for Abundant Robots. The IP it acquired essentially constitutes a vacuum-suction apple-harvesting system that operates in tandem with AI-backed image recognition software. In other words, the robot can eye an apple tree and suck the ripe apples right off the branch.
The delicate nature of the suction technology was a key selling point for Wavemaker. “[With] apples, you’ve got to be really ginger with them,” Jordan said. “If you bruise an apple, the value of that particular apple goes down—and now it’s applesauce instead of being sold in Whole Foods.”
Abundant Robots is now looking to raise $20 million via crowdfunding to improve on its existing prototype. If it hits its goals, the next iteration of the machine should cost under $100,000 to produce and be able to pick an apple every one-to-1.5 seconds. That’s likely quicker than even the fastest human pickers, according to Jordan—and of course, the machine never gets tired.
Abundant’s technology may be good news if you’re an apple grower, but probably not if you’re an apple picker. Aviva Chomsky, a professor at Salem State University in Massachusetts who studies immigration and migrant labor in the U.S., believes that automation will likely exacerbate power imbalances between agricultural workers and their employers.
An aerial view of Abundant Robots’ apple-picking technology.Courtesy of Wavemaker Labs
“In an ideal socio-economic system, technologies could be used for the benefit of the many—but in our agricultural system, technologies are generally used for the benefit of the few and to the detriment of the many,” Chomsky told dot.LA.
While Wavemaker and others in the autonomous agriculture space are positioning their platforms as solutions to an ongoing labor shortage, labor advocates say their technologies could prove disastrous for America’s roughly 2.5 million farm workers and its rural farming communities.
“There is what I perceive to be a very insincere narrative—or perhaps more graciously, an incomplete narrative—about what’s really happening,” according to Erik Nicholson, a consultant and former national vice president of the United Farm Workers labor union. “That, to me, is about as sincere as saying Facebook is about connecting friends and family.”
Like Facebook, Nicholson thinks much of the actual value in technology like Abundant Robots’ machines will come from data collection. As tech companies are able to put more intelligent machinery on farms, they’ll be able to collect data on elements such as soil moisture, crop productivity and temperature.
About 87 million metric tons of apples are produced globally each year.Courtesy of Wavemaker Labs
How tech companies choose to leverage that data remains to be seen. They could provide farmers with insights into how to grow more crops in a more efficient and sustainable manner. Nicholson, however, expects that the trend toward automation will come at a cost to farmers.
“Whoever writes the algorithms and has access to the data has tremendous power,” he said. “Do we want to just hand that over to the VCs in Silicon Valley and say they’re going to make the determinations about what’s growing, how and when?”
Critics agree that there’s no easy solution that simultaneously keeps food prices low, saves growers from going bankrupt and pays farmworkers a living wage. Yet as automotion promises to upend the agriculture industry’s status quo, they argue that farm workers at least deserve a seat at the table as billions in investment capital pour into the industry.
Otherwise, Nicholson said he fears that “we’re going to see an ongoing extraction of wealth into the hands of investors—who largely do not live in [farming communities like] Mabton, Wash. or Delano, Calif.”
- Meet Carry, the Robot That Aims to Make Picking Produce Easier for ... ›
- WaveMaker Labs' Buck Jordan on Robotics and Restaurants - dot.LA ›
- Inside Wavemaker Labs' Push to Automate Restaurants - dot.LA ›


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In March 2014, Bluefin Payment Systems became the first North American company to receive Payment Card Industry (PCI) validation for a Point-to-Point Encryption (P2PE) solution.
At the time of Bluefin’s validation, only two other companies in the world – both in Europe –had achieved this hard-won validation.
Santa Clara, CA, June 7th, 2018 — MagicCube, the creator of the world’s only Software Trusted Execution Environment platform (sTEE™), and ID TECH, a leading manufacturer of point-of-sale (POS) payment peripherals, have announced a global partnership to bring to market a hardware free solution for secure card acceptance using PIN-on-Glass.
Cypress, CA, May 22, 2018 – Pioneer Solution Inc. partners with ID TECH, using solutions such as the Augusta EMV and MSR reader embedded within their line of Point of Sale solutions, to create a seamless EMV payment solution that is ready to use and certified to most major processors.
Milpitas, CA, April 17, 2018 – Advantech, a leading industrial computer designer and manufacturer, and ID TECH, a designer and manufacturer of payment devices and components, today announced the launch of the AIM-35 industrial tablet with integrated payments.
Dublin, Ireland, April 16, 2018 –. Worldnet, a leading provider of omni-channel payment solutions and ID TECH, the global leader in payment peripheral technology have completed the first EMV Level 3 certification through First Data for ID TECH’s new VP8300 countertop payment solution.
Integrating a payment peripheral into a POS app (or other payment app) can be challenging, even under the best of circumstances. It helps to have good documentation. It helps even more to have good tools..
MagicCube, the creator of the world’s only Software Trusted Execution Environment platform (sTEE™), and ID TECH, a leading manufacturer of point-of-sale (POS) payment peripherals, today announced a partnership to bring to market an out-of-the-box solution for secure card acceptance using PIN-on-Glass. MagicCube and ID TECH are integrating their technologies with a new offering that will turn any locale or device into a POS, which will lower card...
Team Research, Inc. (dba TEAMSable POS), a premiere manufacturer of innovative Point of Sale (POS) hardware products, announces its channel collaboration with International Technologies and Systems Corporation, (dba ID TECH) a world-recognized leader in the design and manufacture of secure payment solutions, to bring seamless Chip Card (EMV) integrated card processing solutions to TEAMSable branded POS terminals…
BluePay, a leading gateway and payment technology provider, along with ID TECH, a designer and manufacturer of a wide range of payment products and components, announced the release of an integrated EMV processing solution that seamlessly operates with the existing Virtual Terminal or any BluePay hosted or merchant payment form using ID TECH’s patent-pending Augusta S reader


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As the advertising world gets ready for the annual ad:tech, AppNexus continues to make move to break into Canada, earlier they week eyeReturn announced an extension to their existing relationship which will help advertisers drive further value from their DSP solution. AppNexus has also announced plans to open a Canadian headquarters in Toronto and has appointed Heather Forrester as Country Manager. Heather is well known in the Canadian advertising community, having recently served as a key player on Google Canada’s retail vertical team, and will be responsible for the overall development and expansion of AppNexus’ business in Canada.
In addition to Heather’s role with Google, she previously held senior sales and marketing positions at Syncapse Corporation, Yahoo! and Bell Enterprise Solutions.


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There is a lot of activity going on across the greater Birmingham area involving commercial and residential real estate alike, with several projects that promise to contribute to the local economy and generate buzz for the area. Here is the latest news on Birmingham real estate for April 2014. Brookwood Village Purchased by Cypress Equities Brookwood Village, the mixed-use development in Homewood featuring a 604,000-square-foot mall, 41,900-square-foot retail building, and office building with 170,000-square-feet of office space, has found a new owner. Cypress Equities, a firm based in Dallas, recently purchased the development from Colonial Properties Trust. The new owners are focused on developing a new shopping experience for customers, as well as a new mixed-use experience for commercial and residential tenants alike. New Downtown Mixed-Use Development Announced A new mixed-use development has been announced, this time for the downtown district. RGS Properties announced plans to develop 36 apartments and 9,200 square feet of retail space, to go on the corner of 20th Street and Third Avenue South. Starbucks has already agreed to be in the new development, which could grow to more apartments and up to 55,000 square feet of retail space. There could even be a grocery store placed on the spot, which would be new for downtown Birmingham and a great addition to the area. The new mixed-use development will likely gain suitors quickly, considering the fact that UAB continues to expand into that area. It’s an exciting time to be in real estate in the Birmingham area. Birmingham real estate continues to heat up and opportunities continue to abound.
Matthew is the CEO of Evernest. He is a student of the book Good to Great and is passionate about building the best property management company on the planet (and maybe even the universe if Elon Musk will hurry up). You can usually find Matthew at the baseball field with his son, at a dance recital with his daughter, or at his favorite restaurant with his wife, when he’s not in the office. And if you can’t find him in any of those places, it probably means he’s traveling.


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- Member for
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West Central Tribune readers Friday read about the efforts of Willmar Municipal Utilities and two of its linemen to assist in the electrical power recovery efforts on the East Coast...
Minnesota and its Legislature got some tough news Wednesday with the latest state budget forecast showing a $1.1 billion deficit. … Archive Material - Subscription required to continue reading Log...
It only seems a few days ago that we stepped back from the Thanksgiving table. As “Rudolph the Red-Nosed Reindeer” played this week on network television, you knew the holiday...
For the dedicated shoppers of Black Friday, you are likely reading this newspaper after a long night and morning getting to all those good buys. Now is a time to think about the real buys out there. It is Small Business Saturday and their slogan this year is "Shop Small Y'All." We think that is a great idea and encourage you to look around on Small Business Saturday at many of the small retailers across west central Minnesota. Those mom-and-pop retailers on your local Main Street have some great buys scheduled Saturday.


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May 26, 2020
NC State and CESMII have launched the Smart Manufacturing Innovation Center.
May 19, 2020
Although the country is slowly reopening amid the coronavirus pandemic, there’s one household item you may still find missing on grocery store shelves: Toilet paper.
Apr 9, 2020
Bruno Ferreira, who earned his Ph.D. last fall in Parks, Recreation and Tourism Management, has developed a series of videos to raise awareness about the farmers behind some of the state’s most popular chefs.
Mar 24, 2020
A growing number of chemical manufacturers are exploring the use of artificial intelligence to cut greenhouse gas emissions and improve the energy efficiency of their operations.
Feb 25, 2020
From the emerald ash borer to feral swine, North Carolina is home to a number of invasive species that can have devastating impacts on the environment, economy and even human health.
Feb 5, 2020
Faculty, staff and students in the College of Natural Resources are highlighted for their entrepreneurship and innovations outside of their normal jobs.
Dec 22, 2019
North Carolina is the country's second-largest producer and exporter of Christmas trees. But a parasitic wasp is feasting on the seed supply.
Dec 2, 2019
From holiday cards and packaging to decor and wrapping paper, this season, more than ever, we rely on paper, packaging and other paper products.
Jun 25, 2019
The program consists of four online courses that are designed to give individuals a comprehensive understanding of the clean energy market.
Jun 6, 2019
About 100 researchers and business leaders from the paper industry recently gathered at NC State for the third annual Tissue Conference.


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Geothermal Industries (GIA) is proud to announce that it has reached an agreement to be the National distributor for Waterfurnace Ground Source Heat Pumps in Australia and New Zealand.
Nigel De Veth CEO of GIA states “We are excited to offer this industry leading product into a rapidly growing heat pump market. This partnership gives us the ability to offer some of the best quality products in the industry to dedicated installers around the country. Waterfurnace has been an established brand of Heat Pump in Australia with many systems being in operation for 20+ years.”
With the addition of Waterfurnace heat pumps alongside GIA’s other offerings it will allow GIA to increase the quality being offered and decrease the overall cost with the end user ultimately benefiting.
Geothermal Industries continues to expand its business and will be looking to add additional products and services shortly. We are excited to announce these in the near future.


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According to a media release, through the association with the SOAFEE SIG initiatives, KPIT will be able to contribute and share its rich experiences with respect to automotive software and reusable components, complex software integration, and robust middleware platform, and cloud-based virtual test platform.
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Every year, Interpol conducts an international police operation code-named Pangea, whose purpose is to identify and suppress the facts of the illegal sale of medicines with the use of the Internet. Pangea was held in 2008 for the first time. Nine countries participated in it. Now most of the countries are its participants.
The need for regular conducting Pangea operation is caused by a constant increase in the number of crimes connected with the spread of medicines on Internet sites, since it is the world’s computer network that has become the biggest channel for the spread of counterfeit medicines. Many online drugstores offer low prices for medicaments (for instance, they may offer $2 Viagra cost per one pill, while genuine version of this drug costs about 50 dollars in the US and around 20 dollars in Canada).
Since the distribution of counterfeit medicines by the Internet is a great public danger, an information campaign is conducted within the framework of this operation. This campaign is aimed at warning the public of possible health risks in case of the purchasing medicines online.
Main features of Pangea 2013
As a result of the June 2013 international police operation code-named
Pangea VI, 9610 Internet sites were inspected. About 10 million potentially dangerous medicines worth more than 41 million US dollars were seized from illegal distribution. In addition, more than 522 thousand postal items were inspected, as a result of which more than 58 000 packages of counterfeit medicines were found and seized. 58 persons who acted illegally were detained.
Main features of Pangea 2014
About 200 law enforcement agencies from 111 countries participated in Operation Pangea-VII. From May 13 to May 20, 237 people were arrested, 1235 cases were initiated, more than 10 600 websites and three clandestine laboratories in Colombia were closed, more than 19 000 advertising pages of spammers promoting the services of unlicensed online pharmacies (including “Viagra free trial” pages) in social networks were deleted. In the cause of the police campaigns, 9.4 million potentially dangerous drugs, the total value of which was about $36 million, were also seized.
Main features of Pangea 2015
The Pangea VIII operation involved law enforcement and other competent authorities from 115 countries. The results are the following: 156 people were arrested, 20.7 million potentially dangerous medicines worth over $8 million were seized, 429 criminal proceedings were started, 2414 websites were blocked.
Main features of Pangea 2016
Pangea IX were held from May 30 to June 7, 2016. Its target was to illicit online sales of medicines and medical products. 193 police officers, customs and health authorities from 103 countries were involved. The campaign resulted in 393 arrests worldwide and seizures of potentially dangerous drugs worth more than $53 million. In addition, the work of 4932 websites that were engaged in the illegal sale of medicines and medical products was stopped.
Among the 12.2 million counterfeit and illegal drugs seized during the Pangea IX operation, there were diet pills, drugs against cancer, various test kits, antimalarial drugs, cholesterol lowering drugs, drugs for the treatment of erectile dysfunction (such as Viagra online Canadian pharmacy), anti-hair loss meds, and even food products.


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The company said a good performance in the second half of its fiscal year had resulted in a “significant improvement” to its adjusted earnings (EBITDA) loss for the period, and as such revenues and the EBITDA loss for the year ended 31 December would be “in line with market expectations”.
Summit Germany tumbles as major shareholder has offices searched
In the fallers, commercial real estate firm Summit Germany Ltd (LON:SMTG) dropped 12% to 1.2p after the offices of its largest shareholder, Summit Real Estate Holdings Ltd (SREH), were searched by the Israeli Security Agency in connection with an investigation into possible use of insider information relating to the shareholder firm.
“A number of SREH's officers have been interviewed including Zohar Levy, Managing Director of Summit Germany”, the company said in a statement.
“The Company understands that this is part of a broader investigation into an individual's securities dealings in a number of companies listed on the Tel Aviv Stock Exchange and does not directly involve Summit Germany” it added.
Harvest Minerals surges as Arapua project plugged into the mains
Shares in fertiliser producer Harvest Minerals Limited (LON:HMI) surged 7.6% to 14.2p in mid-afternoon trading after its Arapua project in Brazil was connected to the main electricity grid.
The firm said that following its connection to the grid, the current capacity was 15% higher than the amount needed for the project and that this could “easily” be upgraded to 2,500 kilowatts, compared to the 600kw gained from the installation of a power substation and two transformers at the site last year.
"The plant upgrade and expansion we installed last year is working well and by switching from diesel to grid power we will be able to continue to control costs and maintain our position as one of the lowest cost producers in the world," said executive chairman Brian McMaster.
Premier African jumps as it reaches agreement with Zimbabwe over RHA Tungsten mine
Premier African Minerals Limited (LON:PREM) shares jumped 8% to 0.14p after it said it had reached “a general agreement” with the Zimbabwe Ministry of Industry regarding the financing and restarting of production at the RHA Tungsten mine.
The firm said agreements were in the process of being drafted and that it expects to announce details and a return to production schedule “as soon as possible”.
McBride tumbles on profit warning
In a trading update ahead of the publication of its interim results tomorrow, the manufacturer of private label products cleaning products said it had continued to see pressure on its cost base.
“We continue to expect the overall raw material pricing outlook to show improvements in the second half, but not to the extent anticipated in early January”, the company said, adding that distribution costs had continued to rise “beyond our previous estimates due to market rates and efficiency challenges driven by logistics capacity shortfalls and internal service gaps.”
Integumen soars as CBD-infused skin creams kill 99% of bacteria
Management said the results, more of which are planned, “provide clear evidence” of how the addition of CBD to skin-care treatments and cosmetics can lower the incidence of skin disease.
The tests, which included formulations of Integumen’s STOER men’s skincare range, were carried out on bacteria known to cause infections and some of which are resistant to antibiotics.
Integumen shares more than 40% to 1.3p on the back of the news.
Sainsbury’s down as Asda merger in jeopardy
The Competition and Markets Authority said it found that food and petrol prices might rise if the deal is waved through, while it is also concerned that the quality and number of ranges on offer might reduce.
A number of remedies have been mooted, such as selling off dozens of stores or even one of the brands, but the CMA said it is “likely to be difficult for the companies to address the concerns it has identified”.
While these findings are just provisional and Asda and Sainsbury’s still have the chance to make their case, the market is taking the view that the deal is now dead.
“Investors are rightly accepting that this deal is dead in the water,” said markets.com analyst Neil Wilson.
ReNeuron rises on encouraging Phase II eye disease trial
Researchers in the US are currently carrying out a Phase I/II clinical on people with retinitis pigmentosa.
The first three patients in a group taking part in the Phase II portion of the study were able on average to read an additional three lines of on the standard ETDRS eye chart after receiving treatment, ReNeuron reported.
Doctors used human retinal progenitor cells developed by the AIM-listed life sciences company.
ReNeuron shares rose 20% to 57p on Wednesday morning.
Laura Ashley out of fashion as it warns on profits
Much like Burberry’s ‘noose’ hoodie, home and clothes retailer Laura Ashley Holdings PLC (LON:ALY) was strictly out of fashion on Wednesday after warning that its full-year results will fall short of expectations.
Like-for-like sales at the firm, famous for its floral prints, fell 4.2% in the first half of its financial year, not helped by a Japanese partner scrapping a license agreement.
Laura Ashley broke even during the six-month period, compared to the profit of £4.3mln it reported this time last year.
Chairman Andrew Khoo said trading had been “challenging”, a trend he expects to continue throughout 2019.
“Given the continued market turbulence and having reviewed the revised management forecast for the second half year, the board now holds the view that the performance for the entire year will fall short of market expectations.” Shares dropped 6% to 3p in early deals on Wednesday.
Intu swings to £1.2bn loss
The FTSE 250 group, which owns the Trafford Centre in Manchester and Lakeside in Essex, saw the value of its portfolio of 20 malls in the UK and Spain fall by £1.41bn in 2018.
It said the sharp drop-off reflected “adverse conditions” in the UK retail market as well as “weakening sentiment” among property investors ahead of Brexit.
As a result of the hefty write-down, Intu swung to a loss before tax of £1.18bn in the 12 months ended 31 December 2018. That compared with a profit of £203.3mln in 2017. Net asset value fell to 271p a share, down from 349p a year in earlier.
Shares were down 10% to 107.3p early on Wednesday morning.
Enteq gushes higher on bullish update
“Full year revenue and underlying EBITDA are expected to be materially ahead of its expectations,” said the company.
In its statement, Enteq added second-half turnover will rise by 25% over the US$4.2mln reported for the first six months, while full-year revenues will be 50% ahead of the US$6.5mln seen last year.
Shares jumped 12% to 28p.
Proactive news headlines:
ReNeuron Group PLC (LON:RENE) said its cell-based therapy is showing signs that it can improve the vision of sufferers of a disease that causes blindness. Researchers in the US are currently carrying out a Phase I/II clinical on people with retinitis pigmentosa.
Landore Resources Ltd (LON:LND) has revealed the findings of a preliminary economic assessment of the BAM gold project, at Junior Lake in Ontario, Canada. The project is deemed to have 951,000 of contained ounces of gold, including 701,000 ounces in the indicated resources category.
Eden Research PLC (LON:EDEN) has said its nematicide biopesticide formulation, which is marketed as Cedroz by its commercial partner, Eastman Chemical Company has EU product authorisation from the Regulatory Affairs Directorate in Malta.
Eco Atlantic Oil and Gas Ltd (LON:ECO) (CVE:EOG) has contracted the Stena Forth harsh-environment drill ship for its upcoming exploration well, offshore Guyana. Stena Forth will drill the Jethro-Lobe prospect on the Orinduik Block offshore Guyana, in the neighborhood of Exxon’s multi-billion barrel discoveries.
Eland Oil & Gas PLC (LON:ELA) has announced it will start paying dividends to shareholders following a successful period of production growth in Nigeria. The AIM-quoted company said it plans to pay it dividend based on free cashflow generation, whilst at the same time maintaining balance between new investment and debt repayment.
Collagen Solutions PLC (LON:COS) has raised around £215,000 from the sale of its stake in Jellagen Ltd. the private marine biotechnology company focused on developing collagen biomaterials from jellyfish in a private transaction.
Haydale Graphene Industries PLC (LON:HAYD) has confirmed it is talking to institutions about a funding round at well below last night’s closing price. The funding would also include an open offer to existing shareholders, said the composite materials specialist.
Frontier IP Group PLC (LON:FIPP) said its portfolio company, The Vaccine Group (TVG), will partner up with the Defense Advanced Research Projects Agency (DARPA), part of the US Department of Defense, for a project to protect US military forces from Ebola.
Golden Saint Technologies Limited (LON:GST) said its wholly-owned subsidiary, EMS Wiring Systems Pte Ltd has signed a signed a strategic co-operation agreement with IT Care Ltd, a Shanghai-listed public company that has developed cutting edge hologram technology.
OptiBiotix Health PLC (LON:OPTI) said it was pleased with the scientific and commercial interest around presentations made to an industry conference held in Copenhagen last week. The company, which is developing compounds to tackle obesity, high cholesterol and diabetes, provided three separate updates at ProBiota, an event for the prebiotic, probiotic and the microbiome-focused food and pharma industries.
Afarak Group PLC (LON:AFRK) is to take a €6.5mln write-down of its metal alloys plant at Mogale due to ongoing tough conditions in the steel additive market. Mogale, in South Africa, has been affected by technical problems, including stoppages and low-quality ore while the price of ferrochrome has continued to decline.
Benchmark Holdings PLC (LON:BMK), the aquaculture health, nutrition and genetics business, has announced the appointment of Kristian Eikre as a non-executive director of the company, to take effect immediately after its AGM on 14 March 2019. The group noted that Eikre is currently co-head of Ferd Capital, a division of Ferd AS, a Norwegian investment company which owns a 26% stake in Benchmark.


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RadioShack said Tuesday that it would close up to 1,100 poorly performing stores amid widening losses, or roughly 20% of its locations, as part of an effort to remake itself for a more competitive era of electronic retailing.
The store closings will leave about 4,000 locations in the U.S.
The company has been trying to revamp its stores for the past year.
Yet some analysts say the retailer faces an uphill climb as it struggles to compete against larger big-box stores such as Best Buy.
RadioShack stock (RSH) was down about 15% to $2.31 in afternoon trading


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Annex Brands Announces Several C-Level Promotions
October 12, 2018 // Franchising.com // SAN DIEGO, CA - Annex Brands, Inc. is pleased to announced several promotions in the C-Suite and other ranks.
- Patrick Edd, CFE has been promoted to Chief Executive Officer, retaining the title of company president. Edd has been part of the leadership team since 1991, starting as Director of Finance and Administration.
- Steve Goble, CFE has been promoted to Executive Vice President and Chief Brand Officer. Goble started with Annex Brands in 2000 as a PostalAnnex+ franchisee before moving over the Home Office in 2006 to lead the company’s marketing department.
- Ryan Heine, CFE has been promoted to Senior Vice President of Franchising. Heine started with the company in 2002 in franchise sales and development.
- TanaSue Carpenter, CFE has been named Executive Director of Finance, an addition to her current title of Controller for the company. Carpenter started with the company in 2012 as Director of Accounting.
- Dan Cox, CFE has been promoted to Executive Director of Franchise Services. Cox began his career with Annex Brands in 2000 as a PostalAnnex+ franchisee before moving over the Home Office in 2005 as Franchise Services Coordinator.
- Chris Kimball, CFE has been named Executive Director of Real Estate and Leasing. Kimball has been with Annex Brands since 2005, starting as Franchise Placement Specialist.
- Jeri Beery has been promoted to Director of Franchise Services. Beery joined the company in 2016 with the acquisition of the Pak Mail and has worked with the brand since 1996, first as an Accounting Clerk then moving over to the operations department in 19997.
All of the company's officers have been awarded the designation of Certified Franchise Executive ("CFE") from the International Franchise Association for their knowledge, experience, and participation in furthering the franchising industry.
About Annex Brands
Annex Brands, Inc. licenses and franchises over 820 locations in the United States, Mexico, Canada, and Japan under the brands PostalAnnex+, Pak Mail, AIM Mail Center, Parcel Plus, Sunshine Pack & Ship, Navis Pack & Ship, Handle With Care Packaging Store, and Annex Copy Center. Located in the Mission Valley community of San Diego, Annex Brands has been providing business ownership opportunities since 1985.
Its franchisees offer business services such as private mailbox rental, notary public service, shipping via UPS, FedEx, USPS, and DHL, copy service, freight shipping of large, awkward, high-value, or fragile items, custom packing solutions through individually tailored wooden crates, cartons, and more. For more information on the company, visit AnnexBrands.com.
SOURCE Annex Brands


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UPDATED: Full closing ALD LeasePlan merger postponed
Leasing and business mobility giant ALD announced earlier that the full closing of its merger with LeasePlan could be expected on 28 April, following an Extraordinary General Meeting on the same day where the acquistion would be approved.
In a new statement published on 20th April 2023, ALD announced that this Extraordinary General Meeting has been rescheduled to 22 May 2023, as the company is awaiting the agreement from the European Commission of Credit Agricole Consumer Finance as the buyer for the 6 subsidiaries in Ireland, Portugal and Norway, plus LeasePlan’s subsidiaries in Luxembourg, Finland and the Czech Republic.
The ALD subsidiaries in Ireland, Portugal and Norway will be sold, and the LeasePlan subsidiaries in Luxembourg, Finland and the Czech Republic will all be sold to Crédit Agricole Consumer Finance and Stellantis. The combined fleet of these six entities represents about 100,000 vehicles, or 3% of the total combined fleet of ALD and LeasePlan, as of 31 December 2022.


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Shoppers set for an inconvenient change as single-use plastic is phased out.
Well this is it, finally we’re seeing some big change in the war on waste and it’s coming from a surprising direction… one of the big supermarkets. From June 20th, 2018, Woolworths will ban single-use plastic bags with over 800 stores across Australia part of the move, including Woolworths' supermarkets, BWS liquor stores, Metro Stores and affiliated petrol stations.
And that is a big move for a supermarket giant that thrives on customer convenience.
Easy dinner hacks with Food Editor Jane de Graaff and chef Sean Connolly in What the F is for Dinner
In a time when the internet goes into meltdown over plastic wrapped bananas, when online accounts encourage us to name, shame and boycott stores using unnecessary packaging, and when we are urged to avoid using disposable coffee cups and plastic straws, it seems most of the action to minimise waste must come from the consumer, with big name brands doing little to make a strong contribution to the cause, for fear of putting out loyal customers.
However, a QLD wide ban on plastic bags from July 1st has prompted Woolworths to begin the transition early as well as roll it out across NSW. WA and VIC as well, and will no longer supply customers with single use plastic bags from July 20th. Single-use bags will be replaced with reusable bags that customers can purchase if they forget to bring their own and stores in QLD could face $6000 fines if they don’t comply. So, it’s finally time to get real about all those reusable shopping bags we stock and store in our cars or drawers at home telling ourselves that ‘one day I’ll remember to take them with me… one day.”
It’s estimated that 3.2 billion single-use bags are handed out across Australia each year.
With stores like Harris Farm, Ikea and Bunnings already well versed in skipping the plastic bag and offering recycled cardboard boxes to take items home, it’s not a revolutionary move to dismiss plastic bags, but it is heartening to see one of the big supermarkets taking a firm stand. Yes, it might be inconvenient at first, but so was losing home milk deliveries, and we got used to that. And given what we’re seeing in terms of rubbish in our oceans (see the nine.com.au video above), surely it’s about time we accepted a small amount of inconvenience in return for all that this planet gives us.
At 9Honey Kitchen, we’re excited to really be pushed to remember our reusable bags. Let’s just hope that the extreme use of packaging is also on the radar for the supermarkets too, and that the instances of shoppers hoarding the bags ahead of the ban isn’t something we see more of in the lead-up to June 20th.


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Deflation in pig prices has continued to act as a drag on Cranswick revenues in its third quarter but failed to make a dent in the group’s profits.
The meat supplier reported a 2% improvement in sales volumes for the three months to 31 December as fresh pork returned to growth.
Cranswick said trading over Christmas was strong with December total and underlying sales “well ahead” year on year.
However, underlying revenue was down 3% as volume growth was offset by deflation across the group’s sales base, reflecting the ongoing fall in raw material costs with pig prices continuing to fall across the UK and the EU.
“The markets in which Cranswick operates continue to be competitive, but the group remains focused on delivering innovative products of the highest quality and exceptional service levels to its customers,” Cranswick said.
Total sales for the quarter, including the contribution of poultry business Benson Park, which Cranswick acquired in October, were “marginally ahead” of the same period last year. And export sales continued to gain momentum with trade to non-European markets up 38% on the same period of 2013.
House broker Shore Capital revised down full-year revenue forecasts slightly as a result of the pressures on pig prices from £1.02bn to £1.01bn – equating to 1.8% growth year on year. But its profit expectations remain unchanged (EBIT of £57.6m) on the back of expected robust margin performance, continued investment in processing infrastructure, a focus on costs and a strong performance over Christmas.
Investec analyst Nicola Mallard added that Cranswick had continued to buck the trend in UK grocery over the quarter.
“Deflation in pig prices continues and is impacting revenues, but is not detrimental to profits,” she said. “The group looks well-placed to weather the competitive landscape, with a strong management team, a well-invested asset base and a healthy balance sheet.”


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Petra Diamonds is keen to splash out after sparkling year for gems and discoveries
Sparkling: Petra is the owner of South Africa's Cullinan mine, famed for producing huge stones
Petra Diamonds could speed up the payment of its maiden dividend after a sparkling year for diamonds and discoveries.
The owner of South Africa’s Cullinan mine, which is famed for producing huge stones, posted a pre-tax profit of £76million, compared to £45million last year.
It celebrated the sale of two ‘exceptional’ rough diamonds that boosted revenue by 20 per cent to £288million.
A 126.4 carat white diamond commanded a £5million price tag, while a 29.6 carat blue stone went for £15.6million and was named Blue Moon before going on display at the Natural History Museum in Los Angeles.
Petra got the current financial year off to a good start with the sale of a 122 carat blue diamond for nearly £16million.
And it expects another major sale, with a giant 232 carat white diamond from the Cullinan mine slated to go under the hammer later this year.
Petra expects improved prices for rough diamonds next year and plans to increase production from 3.1million carats to 5million carats by 2019 to meet growing demand in emerging markets. The company’s bullish outlook could result in an earlier-than-expected dividend windfall for its investors.
Shareholders were due for their first payout in 2016, but the company said it was,‘considering bringing the commencement of dividend payments forward’.
Chief executive Johan Dippenaar said: ‘Petra’s production growth comes at a time when demand for diamonds is continuing to grow around the world, but particularly in the major US market and in emerging markets such as China and India.’
‘We look forward to entering a period of significant cash generation and the commencement of dividend payments to our shareholder in due course.’
After a 66 per cent rise in its shares this year thanks to publicity about its diamond discoveries, Petra’s shares struggled to gain more ground yesterday, closing up just 1.2p, to 197p.
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Don't stress about your memory
"One day you misplace your keys, and the next you've lt Dr. Google diagnose you with dementia. Don't panic! a study has found that your brain isn't failing-you're just thinking about different things. "When we're young, everything is worth noting, including where we put our keys. As we get older, we're less focused on details, " says study author Natasha Rajah, director of the Brain Imaging Center at McGill University's Douglas Institute. This is normal, but to boost your memory, multitask less."


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Chevrolet is scheduled to reveal the all-new second-generation 2016 Chevy Volt next week at the 2015 Detroit Auto Show, but the automaker just gave the world a sneak peek at the plug-in hybrid at the Consumer Electronics Show. On the eve of the show in Las Vegas, Chevy surprised the media by quickly pulling the wraps off the 2016 Volt, which will have a longer electric driving range thanks to a larger battery and a more efficient powertrain.
We’ll have to wait until January 12 to get all the official details about the 2016 Volt, but at least we now have a look at the new Volt’s face. We do know that the 2016 Volt will be powered by a new 1.5L four-cylinder engine and a new Voltec electric powertrain. Stay tuned for all the news about 2016 Volt next week at the Detroit Auto Show.
All images © Chevrolet


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The Right introduces KGI analyst Ming-Chi Kuo, delivered a few days before the official figures, estimates sales of Apple products in the last quarter. In a memo obtained by AppleInsider, Kuo believes that the company has once again performed well.
And this success, Apple should still very largely to the iPhone which, let us recall it weighs 70% of sales and quarterly earnings of US giant. Thus, Ming-Chi Kuo estimated iPhone sales to 54.2 million units
China. Growth Today and Tomorrow
Certainly it ‘ is much less than in the two previous quarters – 74.4 and 61.17 million units – but very strong growth, always on year. During the 3rd quarter of fiscal year 2014, Apple had indeed passed 35.2 million iPhone.
With an expected growth of 54%, the manufacturer would therefore continue its momentum and the successful launch of the iPhone 6. And KGI analyst, Apple once again benefit from strong demand for its smartphones in China. Another figure illustrating the progression of iPhone sales: three quarters, Apple has already sold well over iPhone that during the whole year 2014 (approximately 190 million against 169.2)
. But Ming-Chi Kuo, Apple should make a strong quarter also on the side of Mac sales (5.4 million), an increase of 21.6%. However, performance on the tablet market remain in decline.
The ever lower iPad
Tim Cook should be able to recycle their argument the previous quarters to justify the likely further decline in iPad sales. For KGI, the manufacturer would have passed 8.8 million tablets during the last three months, a decrease of 33.5% year on year.
The CEO of the firm could also enjoy the next financial conference July 21 to finally announce sales of Apple Watch. If Ming-Chi Kuo judge shy home consumer, the US would still have sold 3.9 million connected watches.
He could also see its shipments grow by 41.1% (5.5 million units) to the next quarter thanks to the availability of Apple Watch on additional markets. Therefore, the analyst believes Apple could sell in 2015 no less than 15 million watches.


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AdTonos partners with DIT representing British Innovation Internationally at 4YFN. We are promoting our product Sandstrom SDK which allows for monetizing mobile games with non-intrusive audio ads. In light of the recent partnership of AdTonos and the Department of International Trade (DIT), we will now be representing British innovation internationally, and the first occasion will
Digital audio advertising platform and one of the fastest-growing companies in the audio advertising industry AdTonos partners with DIT representing British Innovation Internationally at 4YFN AdTonos, a London-based startup, has developed into an independent audio ad-tech company with a platform that is easy to use and gives advertisers and publishers full control of their ads.
We are looking forward to The Podcast Futures 2022 event, in just over a week. Our very own VP of Strategic Partnerships Paul Cranwell is attending. Be sure to say hello if you see us! We're proud to attend with some of the best in the industry speaking about the future of podcasts. Learn more
Did you know that a survey found that nearly 70% of respondents exposed to podcast advertising agreed the ads increased their awareness of new products or services? "According to recent research, nearly 60% of U.S. consumers older than the age of 12 listened to podcasts in 2021, with 15 billion hours spent in total listening to podcasts
We are so excited for Pocket Gamer Connects in London next week! This is the leading mobile gaming industry conference and we can't wait to participate! Back to real life! It’s traditional to start each year with a Pocket Gamer Connects conference at The Brewery in London. Please find out more about the conference here. Our


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Control4's Q2 revenue hit $44.6 million compared to $36.7 million for the same quarter last year. Revenue for first half of 2015 is up 12% to $76.7 million.
Jason Knott · July 31, 2015
Leading home automation provider Control4 has been authorized by its board to repurchase up to $20 million in CTRL stock, which is trading at an all-time low.
Julie Jacobson · May 14, 2015
Revenue for the first quarter of 2015 was $32.1 million, compared with revenue of $31.9 million during the same period last year, representing 1% year-over-year growth.
SSI Staff · May 01, 2015
By incorporating Control4's Simple Device Discovery Protocol (SDDP) into its Gemini security panel, Napco aims to strengthen its position in the security/home automation realm.
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The deal allows Control4 to take over manufacturing, technical support and sales of Card Access' ZigBee devices.
Julie Jacobson · July 07, 2014
Control4 Corp., a provider of automation and control solutions for the connected home, on Tuesday reported record financial results for its fourth quarter and fiscal year ended Dec. 31, 2013.
SSI Staff · February 12, 2014
COPS Monitoring has added full IP, GSM and GPRS monitoring for Paradox security panels with full Control4 compatibility.
January 28, 2014
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Fidelity Digital Assets – the crypto package of Fidelity Investments – and the cryptocurrency exchange platform Nexo have announced a partnership to offer cryptocurrency repositories, products and lending services to institutional investors.
Both companies will create a comprehensive product line and legal infrastructure for institutional investors seeking access to cryptocurrencies.
According to the announcement, the partnership with Fidelity Digital Assets will allow Nexo to expand its asset portfolio and add a second layer of storage to its security architecture. It also gives institutional investors in Fidelity Digital Assets access to Nexo’s services as well as the underlying cryptocurrency brokerage.
Kalin Mitodiev, co-founder and CEO of Nexo, commented on the development:
“Working with Fidelity Digital Assets is the latest milestone in our quest to deliver a complete enterprise platform and connect traditional finance firms to the digital asset ecosystem. Our customer base will now take full advantage of our industry-leading credit and trading products, relying on Fidelity Digital Assets’ customized storage and security solutions. ”
RELATED: Acquired Institutional Investors Fall Following China’s R & D Bankruptcy
Christopher Terrier, president of Fidelity Digital Assets Europe, said the company has seen a significant increase in interest from institutional investors across the continent, and that the company has expanded its partnerships to meet this demand.
Fidelity Investments has been ambitious in its plans for the institutional cryptocurrency market, having appointed a number of strategic employees in the field. The company seems to have a more comprehensive approach to cryptocurrencies as the asset manager seeks to provide more hot spots for organizations.


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The announcement was made by Bram Cohen, the founder and chief executive of BitTorrent, alongside Dan Glickman, chairman of the MPAA at a news conference in Los Angeles.More details over here.
However, the genie remains out of the bottle. while Cohen and BitTorrent can work to remove links through its own web site, the protocols, which underlie the file transfer technology, are out in the public domain and will doubtless continue to be used by other p2p sites.
BitTorrent to take measures against pirates
Posted on Thursday, November 24 2005 @ 0:04 CET by Thomas De Maesschalck
BitTorrent has made an agreement with the MPAA to remove any copyright material that appears in its search engine.


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New faces head up Union's Pigs and Poultry Working Groups
Robert Hay has taken over as chairman of the Union’s poultry working group from Robert Chapman with Kevin Gilbert heading up the pigs working group after Philip Sleigh stood down as chairman.
Robert, who farms 850 acre, has 70,000 broiler chickens and 76,000 laying hens and has previously been vice chairman of this working group.
The third generation farmer, from Luncarty Farm, Turriff, Aberdeenshire, commented:
“During my time as chairman, I want to have and retain a profitable poultry industry and create better prospects for the poultry meat sector. I would like to get a better price for eggs.
“Currently prices are being affected as there are too many eggs in the market and we need more competition in the marketplace.
“We will also be working to get poultry meat labelled as ‘Scottish’ on the supermarket shelves rather than ‘British’ as it currently is. We need to get the supermarkets on board further to achieve this.
“Thanks to Robert Chapman for the hard work he put in during his time as chairman of the working group.”
Kevin Gilbert, of Womblehill, Kintore, Aberdeenshire farms around 900 acres with 450 sows and 230 beef suckler cows.
Gilbert, who has held the vice chairman’s post previously, commented: “The sector is reliant on the new factory at Brechin going ahead. We are looking forward to work starting there and that in particular will be key to the sustainability of the North East pig sector. Scotland’s pig sector has proved to be very resilient and I will be striving to keep up the good work done by previous chairman Philip Sleigh. Thanks go to Philip for all his work during his time as chairman.”
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Next-generation silicone adhesive technologies are key to growth in the wearables market.
June 1, 2017
According to Grand View Research, the global market for wearable medical devices is expected to reach $27.8 billion by 2022.1 Dow Corning reportedly sees the role of specialized adhesive technologies as a key driver of this growth, especially in skin- adhered medical devices, a major segment of the wearables market.
Sustainability is no longer just a buzzword in manufacturing—it has become a mainstay in nearly every industry, including adhesives and sealants. In addition to reduced emissions and landfill waste, “green” products also reduce the chance of exposing workers to dangerous toxins.


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P&G profit rises by 8 per cent
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NEW YORK, N.Y.—Procter & Gamble’s fiscal first-quarter net income rose 8 per cent as the world’s largest consumer products company sold more of its detergent and diapers globally and cut costs.
The results were in line with Wall Street expectations and the company reaffirmed its 2014 forecast.
The Cincinnati-based company, whose products range from Tide detergent to Crest toothpaste and Gillette razors, is in the midst of a turnaround plan that includes focusing on its most profitable core businesses and cutting costs to save $10 billion (U.S.) by fiscal 2016.
In the developed markets such as the U.S. and Europe, P&G has been trying to adjust its prices to stay competitive, cutting prices on some products and raising prices on others. P&G said it held or grew market share in two-thirds of its product categories globally, and two-thirds to 70 per cent of categories in North America.
But CFO Jon Moeller that there are some brands in its beauty segment that need to do better, specifically its Oil Of Olay skin care business, North American Pantene hair products and its Salon professional businesses.
Net income for the three months ended Sept. 30 after paying preferred dividends rose to $3.03 billion, or $1.04 per share. That compares with net income of $2.81 billion, or 96 cents per share, last year. Excluding one-time items net income was $1.05 per share, matching analyst expectations, according to FactSet.
Revenue rose 2 per cent to $21.2 billion from $20.74 billion. Analysts expected revenue of $21 billion.
P&G reiterated its 2014 guidance of earnings excluding one-time items to rise 5 per cent to 7 per cent, implying results of $4.25 to $4.33 (U.S.) per share. It expects revenue to rise 1 per cent to 2 per cent, implying revenue of $85 billion to $85.85 billion. Analysts expect earnings of $4.29 per share on revenue of $85.71 billion.
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ONLINE coupon service Groupon is more than half way to completing its $1bn (£645m) funding drive, according to a recent regulatory filing.
The Chicago-based firm has secured more than $500m from unnamed investors since walking away from a takeover offer from Google in December, it said in papers lodged with the US Securities and Exchange Commission last week.
Some of the proceeds will be used to repurchase shares owned by directors, according to the filing.
Chief executive and founder Andrew Mason, alongside several board members, was named in the filing, which did not specify which board members were set to sell stakes.
Groupon walked away from a takeover offer from Google last month, which was reported to be worth as much as $6bn.
Groupon is a privately held company that was launched two and a half years ago to send its members daily e-mails containing discount coupons. It now employs more than 1,000 staff and operates in 35 countries.
Yahoo offered in the region of $3bn for Groupon in failed acquisition talks in early 2010.


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The International Monetary Fund (IMF) has informed it is expecting some setbacks in the Indian economy next fiscal year and projected the growth to 6.1 percent from 6.8 percent during the current fiscal ending March 31. The IMF has released the January update of its World Economic Outlook, according to which the global growth is projected to fall from an estimated 3.4 percent in 2022 to 2.9 percent in 2023, then rise to 3.1 percent in 2024.
Indian Economy to Setback from 6.8 pc in 2022 to 6.1 pc in 2023, says IMF- Key Points
- The growth projections actually for India are unchanged from our October Outlook according to the International Monetary Fund.
- The country has 6.8 percent growth for this current fiscal year, which runs until March, and then it is expected to face some slowdown to 6.1 percent in the fiscal year 2023.
- Pierre-Olivier Gourinchas, Chief Economist and Director, Research Department of the IMF informed that the setback in the economy is largely driven by external factors
- Growth in India is set to decline from 6.8 percent in 2022 to 6.1 percent in 2023 before picking up to 6.8 percent in 2024, with resilient domestic demand despite external headwinds.
- According to the January update, growth in emerging and developing Asia is expected to rise in 2023 and 2024 to 5.3 percent and 5.2 percent, respectively, after the deeper-than-expected slowdown in 2022 to 4.3 percent attributable to China’s economy.