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Retailers plan to step up discounts as sales slow
Raghavendra Kamath; Neeraj Thakur in Mumbai/New Delhi | January 20, 2009 11:46 IST
Spencer's, Vishal Retail, Lifestyle Group's Max Retail and other Indian retailers admit that sales at stores are slowing even as they were planning to step up discounts to attract customers.
The disclosure comes within days after Kishore Biyani-owned Pantaloon [Get Quote] Retail said that same store sales in December dropped for the first time in four years. Analysts were more surprised at the drop in value retailing, which indicated that value retailers were not benefiting from downtrading.
Retailers earn about 12 per cent of their revenue from sales in December and as much as 35 per cent of revenue during the three-month festival period starting October, according to industry estimates.
Vishal Retail, Spencer's and other retailers admitted that December sales could have been flat or even a drop as they failed to gain from the downtrading.
'Downtrading' refers to consumer behaviour of settling for buying lesser value product, or lesser known brands, especially in an economic slowdown.
"Our same store growth has certainly been hit '', said Ambeek Khemka, president Vishal Retail, declining to give details.
Spencer retail's same store growth has been flat this year. "We have been giving discount offers on our FMCG and other products to not let our same store growth fall," said Samar Shekhawat, vice president, Spencer Retail.
Retailers in western India saw their sales growth tapering off after stocksfell sharply and terrorist attacks rocked cities such as Mumbai, Jaipur and Ahmedabad, prompting shoppers to stay indoors.
"Same store growth in our Mumbai and Ahmedabad stores during December was zero. We barely achieved last year's sales numbers. It may have to do with recent terror strikes and stock market crash,'' said Vasanth Kumar, Executive Director, Max Retail, a unit of Dubai-based Lifestyle group.
"After Diwali, the market has not improved but is seeing a steady decline. We are in the middle of economic slowdown and retail cannot remain insulated from that,'' said a senior official from Aditya Birla Retail, who wanted anonymity.
Pantaloon Retail, the country's largest listed retailer, saw its December month same-store growth dip by over 3.5 per cent in value segment, nearly 14 per cent in lifestyle retailing and 10 per cent in home retailing, compared to same month in 2007.
Retailers on their part are planning to step up discounts to boost sales even at the cost of losing margin.
Delhi-based retailer Vishal, which recently admitted to the possibility of missing its annual revenue target, plans to offer a flat 7 per cent discount on the FMCG products.
"We have decided to give 7 per cent flat discount on our FMCG products. We will look for volumes to survive in this downturn,'' said Khemka.
Kishore Biyani's Pantaloon Retail on January 11 ended a four-week shopping festival to boost sales. Analysts termed the offer as store clearance and effort to boost sales.
Commenting on the failure of value retailers and others to gain from slowdown experts attributed intense price competition and lack of differentiation among the key reasons for the development.
"When the country's GDP is growing at 6 to 7 per cent, at least we should have seen a 14 to 15 per cent same store growth. The contraction may be due to competition.
"Everybody is opening in the same city and loosing out on opportunities in other places,'' said Arvind Singhal, chairman, Technopak Advisors.
Another possibility could be that customers may have downtraded within the value retail format giving boost to other categories of product. It also indicates that customers are curbing consumption.
"What retailers need to do is differentiate themselves,'' said Anand Raghuraman, partner & director, The Boston Consulting Group. Most retailers today rely on price and proximity for sale.
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Carolina Garden World will hold its third annual Sustainability Day on Saturday. The event will run from 10 a.m. to 4 p.m. at 1020 S. Pine St., Spartanburg.
Sustainability means a lifestyle using sustainable methods. Or it means diverse and productive biological systems. People now are paying more attention to how they separate their trash to help with recycling efforts. That practice is a way people can focus on being more sustainable.
Saturday’s event will help people understand the importance of sustainability. Tina Clark, owner of Carolina Garden World, said in the past, she had a good turnout for the program.
Vendors will set up booths and handout free items. Groups participating in the program include the Spartanburg Beekeepers, Spartanburg Recycling, Fox Farms, and Compost House.
Seminars also will be held throughout the day. Some of the seminars will include discussions about the Converse Heights Ravine Project, tree care, composting and more. Attendees also will be able to purchase art made from recycled items, pottery and more. In addition, organizers plan to award door prizes.
Clark said she couldn’t think of a better way to educate the community than by holding a Sustainability Day. Clark also is known for being an animal lover and will have her guinea pig, cat, and dog with her to greet the visitors.
Spring is also the time for plant sales. The Spartanburg Men’s Garden Club will hold it’s spring plant sale from 8 a.m. to 2 p.m. Friday and 8 a.m. to 1 p.m. Saturday at the horticultural gardens at Spartanburg Community College. The plant sale is in partnership with the School of Horticulture’s plant sale. The college will offer annuals and perennials students have grown from seeds.
Proceeds from these plant sales will help to fund projects in Spartanburg County.
— Linda Cobb is a master gardener who lectures, teaches, and does garden design in South Carolina. She can be reached at 864-574-8493 or email her at firstname.lastname@example.org. Visit her website at www.mygardenersguide.com.

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Despite both layers of safety, the degree of cover against spyware and phishing is only okay. A 2017 study by SE Labs unveiled that despite having Microsoft’s trade on line coverage and state-of-the-art hazard coverage allowed, email safety only gained a comparable score to expertise from inside the low-middle degree of the marketplace. Far lower as compared to amount of safeguards given by higher level third party mail spam filter systems such SpamTitan that work alongside company 365 to deliver increased protection from destructive email threats.
The expense of mitigating a cyberattack may be considerable, and undoubtedly substantially more than the cost of reduction. The Ponemon Institute/IBM safety 2017 price of a Data violation study shows the common cost of mitigating a cyberattack is $3.62 million.
The previous NotPetya and WannaCry attacks also highlighted the highest price of breach minimization. The NotPetya combat on Maersk, eg, has-been forecasted to are priced at the business as much as $300 million, the vast majority of which may currently stored in the event that spots released by Microsoft in March were applied rapidly.
These big providers can absorb the price of mitigating cyberattacks to some extent, although smaller organizations simply do not have the funds. It is no thus not surprising that 60percent of SMBs become once and for all shutting their unique doorways within 6 months of experiencing a cyberattack. Actually cash-strapped businesses will be able to manage to boost security to prevent email-based assaults aˆ“ the most typical vector used by cybercriminals to gain the means to access techniques and data.
No-system can be made totally impervious to hackers and continue to be usable, but it’s feasible to boost Office 365 e-mail protection and minimize the potential for problems to a very little degree. To achieve that, numerous businesses include embracing 3rd party option providers aˆ“ authorities in e-mail protection aˆ“ to boost Office 365 mail protection rather than paying added when it comes to safety made available from APT.
According to numbers from Gartner, around 40per cent of Microsoft Office 365 deployments will incorporate third-party knowledge towards the end of 2018 using the figure forecast to rise to 1 / 2 of all deployments by 2020.
Whenever these brand new risks were detected and signatures are added to the databases, the threats is blocked
One of the better methods of enhancing workplace 365 e-mail safety is to use an enhanced, extensive e-mail junk e-mail filtering solution produced by a professional in mail security, TitanHQ.
TitanHQ’s SpamTitan supplies exceptional defense against email-based problems. The perfect solution is has additionally been created to completely praise workplace 365 to stop a lot more attacks and keep inboxes junk e-mail and malware complimentary. SpamTitan filters around a lot more than per cent of junk e-mail and malicious email messages, providing companies the additional standard of security they want. Plus, it’s also probably one of the most economical enterprise mail protection expertise for Office 365 available on the market.
SpamTitan Has Safety Comprehensive for Workplace 365 Customers
Despite having company 365 state-of-the-art danger Protection, discover areas where workplace 365 cannot work. According to a research by Osterman investigation, company 365 is capable of preventing all identified malware risks. The clear answer try no place almost as effective at blocking brand new spyware variants, which are constantly hitting theaters. Until the period, customers are susceptible. SpamTitan in contrast can perform detecting and blocking new malware dangers. SpamTitan has the capacity to assume new attacks by way of routine reading and intelligence. These predictive effectiveness guarantees safeguards from the newest trojans variants that signature-based email security options fail to identify. Through the use of Bayesian research, heuristics and device discovering, newer types of spear phishing, whaling, and zero day assaults could be found and obstructed that would or else become delivered to inboxes.


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There’s an old Wall Street saying that goes: “Pigs get fed, but hogs get slaughtered.” For some insiders, the initial public offerings market captures the truth of this better than most other corners of the financial world, if only because it offers the opportunity for so many different folks to get their noses into the trough.
The investment banks are eager to collect some of the fattest fees that Wall Street offers, at least when measured as a percentage of the size of the deal (as much as 7% of the proceeds go to the underwriters). So they will fight for the assignment, shepherd a marquee name to market, and collect the largest share of the fees and the bragging rights.
Entrepreneurs and venture capitalists have been waiting for this day for years. When only a fraction – 10%-20% – of start-up companies even stand a chance of going public at all and earning the biggest paydays for their early backers, this is akin to winning the lottery. With help from the bankers, they will sometimes try to price the new stock to extract every penny of value from new investors.
Those investors, meanwhile, are desperately hoping that bankers, entrepreneurs and early investors will leave enough on the table that they, the latest to arrive on the scene, will see a big first-day “pop” in the value of their new shares, and score an instant killing.
In a lot of ways, last week’s IPO of Virtu Financial was the epitome of what we think of as a classic Wall Street IPO. Its entire business model is built around a form of greed, in that its high-speed trading business strives to help firms shave milliseconds off their trading times and capture inefficiencies that, when added up over time, can turn into millions, even billions, of dollars of profit for its customers.
Forced to postpone its IPO by the hullabaloo surrounding the publication of Michael Lewis’s book, Flash Boys – demonizing its industry and suggesting that high-frequency traders distorted the market – Virtu had the last laugh: it raised $314m, pricing its stock at $19 a share (more than expected), as demand outpaced supply at a ratio of 15-to-1. The shares and those new investors enjoyed a respectable 24% gain in the first day of trading, ending at $23.60. Greed triumphed.
Or did it?
One of the other IPOs that priced the same day couldn’t have been a greater contrast to Virtu Financial, with a business model that embraces capitalism while rejecting greed.
It’s a tale of two IPOs – and two business models. And the phenomenon behind it – the tale of the “B Corp” – is starting to raise questions about whether there might be such a phenomenon as sustainable capitalism.
Etsy, an online marketplace for all kinds of artisanal products (I’ve eyeballed the most amazing hand-crafted furniture there, and purchased patterns for quilts), takes Wall Street right back to its Main Street roots. By helping Virtu Financial find capital, Wall Street is continuing in the path that it has pursued since the 1990s, and treating itself as its own best customer. Financing Etsy, a forum in which some 1.4 million active sellers find nearly 20 million buyers for their products worldwide, means providing capital to a marketplace that keeps those millions of small businesses operating – giving them, in their turn, access to their own sources of capital.
Etsy is aware of this role, which is why it became a B Corp in 2012. So far, there are only 1,257 of these rare animals worldwide, according to B Lab, the nonprofit organization that designed and monitors the certifications. To earn the designation, a company has to make clear to everyone, from its employees and customers to its investors, that its motives go well beyond greed. Rather than maximizing profits, it should be able to prove that its priorities include factors like finding ways to empower employees and pay them a living wage, to produce high-quality products without taking a toll on the environment, or in some other way conduct business “as if people and place mattered”.
It’s enough to give a Goldman Sachs banker a fit of the vapors.
And yet, of the two IPOs, it was Etsy that posted the bigger first-day “pop”, which seems to suggest that something about the company’s pledge to defy the “greed is good” mantra that governs most public companies appealed to investors. Either that, or those investors are tremendously cynical and calculate that in a year or two, all that idealism will fall by the wayside.
That is, indeed, the next hurdle that Etsy will face – and possibly the biggest question facing all B Corps, most of which are smaller, local businesses. Etsy is only the second to have gone public (the first was Rally Software). Another prominent B Corp is Kickstarter.com, but CEO Perry Chen has rejected publicly the idea of an IPO, noting that people give money to Kickstarter projects because they want to see them happen rather than because they want to make money. The most disruptive part of Kickstarter, he added, “is the removal of the investment component”.
Until very recently, every publicly traded company out there, from the newest IPO on the block to General Electric, was legally bound to pursue a single goal above all others: maximizing shareholder profits. Famously – or infamously – that contributed (along with a sluggish business) to the sale of iconic socially responsible ice cream brand Ben and Jerry’s to global consumer products giant Unilever, undermining its social mission.
Now a new kind of business structure is emerging: the benefit corporation. This is distinct from a B Corp: rather than being a designation crafted by a nonprofit organization to winnow out the genuine socially responsible from the pretenders, it’s a legal framework adopted by a growing number of states, with the force of law behind it. Roughly speaking, if you invest in a benefit corporation and decide that you’re not happy that it’s not routing 100% of profits to investors, but instead is using a chunk of those profits to improve the environment, the lives of employees and suppliers or the community in which it does business, you don’t get to sue them and claim that they’re violating their fiduciary duty.
For the time being, at least, Etsy may be a B Corp, but it isn’t a benefit corporation: that would require the approval of 90% of their shareholders. But B Lab’s rules call for that to happen by 2017. (That’s four years after Delaware, the state in which Etsy is incorporated, passed its benefit corporation law.) If Etsy shareholders don’t approve the initiative, the company will lose even its B Corp status and become just like any other company out there, unless B Lab changes its own rules.
In other words, the clock is ticking, and the degree to which greed and good can really coexist on Wall Street will soon be determined. The slam-dunk success of the IPO suggests that investors are eager to embrace the idea that you don’t have to abandon the pursuit of profit in pursuit of a social mission. But the IPO, rather than being a final verdict on the question, was simply the opening round of the debate.
It’s time to grab yourself a front-row seat for what could be one of the most interesting and important discussions about the future of capitalism.


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05 February, 2017
Glad to announce initial manufacturing operations of the world's most valued company: Apple, in Karnataka. "We made concerted efforts to reach out to Apple directly".
For nearly a year, strong rumors pointed to Apple possibly manufacturing their flagship phone in India. "Apple's intentions to manufacture in Bengaluru will foster cutting edge technology eco system and supply chain development in the state, which are critical for India to compete globally", it said. This is just the first step for Apple's plans for India, sources tell Mashable. Apple, which has reportedly negotiated hard with the Indian government on tax exemptions and other incentives, is yet to comment.
Soon, we will have Apple iPhones made in a Bengaluru factory.
FireEye, Inc. (NASDAQ:FEYE) Analyst Estimates
BTIG Research reissued a "buy" rating and issued a $17.00 target price on shares of FireEye in a report on Monday, October 31st. Salem Investment Counselors Inc. purchased a new stake in shares of FireEye during the third quarter valued at $138,000.
Could GOP Defections Cause Stalemate in DeVos Confirmation?
But Senate Democrats have repeatedly requested the vote be delayed so they can hold additional hearings with DeVos. DeVos' at the expense of families in the greatest need of educational resources.
USA raid kills 3 Al-Qaeda leaders in Yemen
The raid took place Saturday in an area of Yemen where Al-Qaeda has thrived since the start of the Yemeni civil war in 2015. Central Command reported the first counterterror operation carried out under approval by President Trump.
It seems like Apple has come to an agreement with the government of Indian state, Karnataka, to set up a manufacturing plant in Bangalore, aka Bengaluru.
It does appear, however, that at least for the time being Apple will be keeping its manufacturing operations overseas.
The government, he said, is willing to facilitate any high-end manufacturing in Karnataka including that of iPhone. Apple Stores will bring about reforms in Apple Care services being offered in India which suffer due to poor operation standards of Apple Resellers. Apple CEO Tim Cook already made a visit to India past year and met various government officials including Prime Minister Narendra Modi. "In the longer term, it's a great move", Cook said this week. Apple's application for exemption from compulsory 30 per cent domestic sourcing norms was rejected by the Finance Ministry a year ago. This could allow Apple to open its own exclusive stores in India; now Apple-branded stores in India are run in partnership with other retailers.
This also comes on the back of Cook mentioning on an earnings call this week that India is "the place to be" and adding that the technology giant is in discussions on a number of things, including retail stores and fully intend to invest significantly in India.


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Asia Pacific manufacturing companies are championing the digitization and end-to-end integration of their operations, introducing digital products and services and connecting new technologies across their organizations at a much faster rate than their peers in the Americas and EMEA. This gap will continue to widen, as 32% of Asian companies plan to have established mature digital ecosystems in the next five years, compared to 24% in the Americas and 15% in EMEA.
For its report, Digital Champions: How Industry Leaders Build Integrated Operations Ecosystems to Deliver End-to-End Customer Solutions, PwC’s Strategy& surveyed 1,155 executives at global manufacturing companies in 26 countries and asked them about their views on Industry 4.0. and digital operations. Based on the outcomes, PwC developed a digital maturity index to explore the role of frontrunners – the so-called ‘Digital Champions’ – and what distinguishes them to outpace their competitors.
The report shows that 10% of global manufacturing companies are Digital Champions, while almost two-thirds have barely or not yet begun on the digital journey.
Asia Pacific is leading the way to digitization, where 19% of manufacturers have achieved Digital Champion status, compared to 11% in the Americas and 5% of companies in EMEA.
Automotive (20%) and Electronics (14%) have the largest share of Digital Champions. Consumer goods (6%), Industrial manufacturing (6%) and Process industries (6%) are lagging significantly behind.
Global manufacturing companies are applying new technologies to their operations at a large scale, but artificial intelligence is just kicking off. Two-thirds of all companies don’t have a clear digital vision and strategy to support digital transformation and culture.
While Industry 4.0 is transforming manufacturing rapidly, only a small group of companies are in a position to gain real competitive advantages from this operations revolution. In PwC’s Strategy& Global Digital Operations Study 2018 only 10% of global manufacturing companies are dubbed as Digital Champions. These companies view digitization in ways that are far-reaching and aggressively innovative, well beyond mere automation and networking.
In the report, 19% of the manufacturers from Asia have achieved the Digital Champion status, compared to 11% in the Americas and 5% of companies in EMEA. It seems like the region’s young and tech-savvy corporate managers who are embracing digital technologies, as well as soaring compensation and production costs, have pushed manufacturing companies in Asia Pacific to digitize their key operations processes at a much faster rate than elsewhere in the world.
“Delivering enhanced customer value will drive the way Digital Champions differentiate products and services over the next 2-4 years,” says Pierre Legrand, Asia Pacific Technology Consulting Leader, PwC Singapore.
“A focus on creative design and enhanced intelligence will allow APAC companies to leapfrog global counterparts because of the relative low cost to drive new business models freed from legacy constraints. Operations as a result will be born in digital native constructs that attract high efficiency and low cost to service, while completely integrated in the digital customer value proposition. We look forward to seeing the new and innovative services that arise from the new technologies such as AI and completion autonomous activities that are fully converted to cloud powered solutions.”
EMEA clearly lagging behind on path towards digitization
Digitization will lead to an increase in production in mature markets, as it reduces operations costs and enables companies to rely less on labor arbitrage. However, companies in the EMEA region mostly don’t get beyond a medium level of supply chain integration and are often lacking high automation and connectivity in their manufacturing operations. Compared to their Asia Pacific counterparts, EMEA companies also more often fail to connect their strategic, operational, technological and people-related capabilities, and less often incorporate partners in their business models to create customer value.
Consequently and while already being behind, EMEA companies only expect their investments in new technologies and digital ecosystems to result in 12.7% growth in digital revenue over the next five years, compared to 16.6% growth among Asian companies.
Most Digital Champions are in Automotive and Electronics
Two-thirds of global manufacturing companies have barely or not yet begun the digitization of their operations and especially in Process industries, Consumer goods and Industrial manufacturing only a few companies have emerged as Digital Champions. Industrial equipment companies are already more advanced, but Automotive (20% Digital Champions) and Electronics (14%) are clearly the most digitally mature. Operations in auto companies have been optimized, automated and connected for decades, while electronics manufacturers have been at the forefront of outsourced manufacturing, which requires connecting and managing disparate systems and partners across an extended value chain.
Higher cost savings by connecting essential technologies
New technologies are implemented across the board, but only Digital Champions are able to leverage these technologies to truly connect and collaborate along the end-to-end value chain. They take a holistic approach, connecting essential technologies across the organization and with strategic partners instead of isolated implementations. As a result, they expect to achieve high cost savings and efficiency gains from technology implementations: 16% anticipated cost savings in the next five years versus 10% for Digital Novices (the least digitally mature companies in the report).
At least 90% of Digital Champions have already implemented, piloted or planned some of the most current technologies, like IoT (97%) and advanced robotics (90%). Starkly different, only about one-third of Digital Novices have adopted the most common operational technologies, like predictive maintenance (39%) and integrated supply chain planning (32%).
One-third of Digital Champions have adopted artificial intelligence (AI) across major functions, primarily for automating manual and cognitive tasks. 98% of Digital Novices have no AI activities at all. Overall the study finds that AI is still at the beginning of its development. Most companies appreciate AI’s significant potential, but core use cases are just emerging. Even among Digital Champions, 52% say they lack people skills to broadly implement AI systems and many are hesitant about full-scale AI because they are uncertain about the maturity of the data produced by the AI systems themselves. Asian companies are also at the forefront with AI, with 15% implementing significant AI solutions, while EMEA is lagging behind (5%).
People at the center of digital transformation
Two-thirds of the survey respondents said they don’t have a clear digital vision and strategy to support digital transformation and culture, and only 27% believe their employees have the required qualifications to master the digital future. On the other hand, more than 70% of the Digital Champions say their leaders express a clear vision for the future and serve as role models for digital change in their organizations. Consequently, Digital Champions invest heavily in people development and training and cultivate multi-disciplinary teams to foster innovation across functional boundaries.


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The Ray Butts Ful-Fidelity
In collaboration with the inventor of the Filter'Tron comes the truest re-creation ever made.
The Ful-Fidelity comes with the choice of chrome or gold covers that are blank (late 1957-'58), PAT. APPLIED FOR (1959-early '60), and U.S. PAT. 2892371 (1960-present). Relic'd covers will be available through the TV Jones Custom in the next coming weeks.
Read the official press release on Premier Guitar here.


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Essentra Components looks ahead to 2021 with a program of sustainability manufacturing by which it will address the hard-environmental issues around plastic component production.
Parker Hannifin will present the first in a new series of ‘Expert Insights’ tech talks on Thursday 4 February 2021.
Goodfellow has launched a Christmas video detailing the triumphs and obstacles for the company throughout an unpredictable year.
Applying an anti-bacterial surface treatment on PCAP touch panels or displays, reduces bacterial reproduction by up to 99.99%.
EconCore announce a partnership involving AZL, Audi and others to establish the potential of using composites for battery housings.
After months of the science and industrial community uniting to support the Coronavirus response, materials supplier Goodfellow is showing its gratitude.
Enhanced chemical resistance and fatigue performance of the PEKK-based material over other alternatives provide Boeing with a new, high-performance option for polymer flight parts.
These days often the first thing we do when considering a new project is to search for a “How to do it” video. Using their experience in the electrical/electronics, production, assembly and installation industries, Essentra Components provides a new video guide on thermoplastic moulding.
The range of thermochromic paints from the Colour-Therm division of Indestructible Paint Ltd. is now offering important advantages to customers of the company’s newly created rail industry department.


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ADDITIUM has been awarded for a new E-Launcher by the airbag manufacturer Jinheng Automotive Safety System. The multifunctional system will have several degrees of freedom, in order to perform Pedestrian and Misuse impact tests.
The system will be combined with a climatic chamber and thanks to the E-Launcher, the outstanding speed accuracy won’t be affected by temperature and humidity. More and more, customers are relying in the new technology, based in electrical linear motors, that can much improve the performances and operation of traditional pneumatic or hydraulic systems.
This launcher will be installed on first quarter of 2019 and will allow Jinheng to offer better products to the market.
For more information, please contact us: firstname.lastname@example.org


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SIOUX FALLS, S.D. - Spader dealers big and small saw significant jumps in total sales in 2004, compared to 2003, Spader Cos. reported in a recent statement.
For many large dealers, this didn't translate into increased profits, however. And both large and small Spader dealers reported profits as a percentage of sales that were dangerously close to “minimum survival net profit,” leaving little room for error.
The training and consulting company tracks approximately 60 dealers in North America, dividing them into two categories: those doing under $5 million in business at retail and those doing over $5 million.
Units sales increase for small dealers, net profits rebound slightly
Total dealership sales for the average small dealer increased 9.7 percent in 2004, compared to 2003, from $3,559,689 to $3,906,646.
New boat sales jumped 7.1 percent to $2,381,426, while used boat sales grew 5.8 percent to $342,529, according to Spader.
“The good news is that both new and used unit sales increased this year,” said Noel Lais, Spader vice president of operations, in a recent interview. “This is the third year in a row that unit sales have increased. However, new unit inventory levels bumped up slightly and new unit gross margins are down slightly.”
New boat inventory increased 1.2 percent for the average small dealer to $1,055,494, compared to 2003, while used boat inventory grew 16.6 percent to $88,886.
Total gross margin percent was down 1.5 points to 28.5, while total unit margin was down 0.6 points to 18.7 percent.
The average small dealer did a good job of holding down their expenses in 2004, according to Lais.
“They spent 88.9 cents out of every gross margin dollar, compared to 90.4 cents last year,” he explained. “However, one of the areas that is helping them keep their expenses low is floorplan interest costs. If interest rates increase and inventory is up, that could have a negative effect on dealers' margins.”
The average small dealer saw 20.6-percent growth in net profit this past year, compared to 2003, to $123,785. However, despite the increase, small dealers are still in danger.
“Net profit, while up slightly this year at 3.2 percent of sales, is 'minimum survival net profit' so there isn't much room for error,” pointed out Lais.
Sales increase for large dealers but net profits drop
Total dealership sales for the average large dealer grew 5.2 percent in 2004, compared to 2003, from $10,716,585 to $11,276,717.
New boat sales increased 8.8 percent to $7,174,767, while used boat sales grew 9.9 percent to $1,399,140, according to Spader.
New boat inventory also was up. It jumped 7.5 percent for the average large dealer to $3,194,004, compared to 2003, while used boat inventory only increased 0.1 percent to $413,043.
Total gross margin percent was down 0.1 points to 27.5, while total unit margin was down 0.2 points to 17.6 percent.
The average large dealer reported increased expenses in 2004, according to Lais.
“While compared to the other group these dealers reported better expense ratios, they did increase their spending in 2004 when compared in 2003,” he said. “The increase was reflected pretty much across the board in all expense categories.”
The slightly lower margins coupled with an increase in spending caused the net profit to drop slightly in 2004, Lais added.
The average large dealer saw a 3.6-percent decline in net profit this past year to $440,248.
“At 3.9 percent of sales, the net profit ofthis group is a little better than the 3 percent survival net,” Lais concluded.
- For more of the latest news, click here.


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People seeking compensation over mis-sold PPI will have to make a complaint before a deadline set in August 2019, the City regulator has said.
The Financial Conduct Authority (FCA) said it will start a two-year communications campaign from August 2017 to alert consumers to the cut-off point drawing a line under the scandal.
The watchdog said consumers who intend to complain about payment protection insurance "should do so as soon as possible".
They should continue to complain to the firms concerned and to the Financial Ombudsman Service if they are not satisfied with the response.
Consumers have until August 29 2019 at the latest to make their complaint, but some, including those who have previously been told by their firm that they may have been mis-sold, may run out of time sooner, the FCA said.
Making a complaint is free and most people should not need to use a claims management company, which could take a chunk of any payout, to help them.
Andrew Bailey, chief executive of the FCA, said: "Putting in place a deadline and campaign will mean people who were potentially mis-sold PPI will be prompted to take action rather than put it off. We believe that two years is a reasonable time for consumers to decide whether they wish to make a complaint.
"We have carefully considered the feedback we received and we still believe that introducing a deadline for PPI complaints and a communications campaign warning of the deadline will benefit consumers."
According to the FCA's figures, a total of £26.2 billion has already been paid out since January 2011 as a result of the PPI scandal.
PPI was often tacked onto other financial agreements, such as store cards, without consumers wanting or needing it.
Consumer group Which? said the major banks alone have set aside more than £35 billion to pay PPI compensation.
Vickie Sheriff, Which? director of campaigns and communications, said: "It's been clear for years that the banks should be working much harder to resolve PPI claims fairly.
"The current process has been wholly inadequate and driven too many consumers to use claims management companies.
"Now the regulator has confirmed a deadline for the victims of this mis-selling scandal to make a claim, it must ensure that banks are doing much more to help customers get back the money they are owed."
Figures released by the financial ombudsman this week showed that PPI continues to make up just over half of the complaints it receives.
Chief ombudsman Caroline Wayman said earlier this week that while PPI complaints had recently drifted downwards, "there are some suggestions that this could be the calm before the storm".
She said the PPI deadline could heavily influence the ombudsman's complaints volumes.
Martin Lewis, founder of MoneySavingExpert.com - which like Which? has free help with PPI claims on its website, said: "The deadline is a mistake. The stats are plain. Flabbergastingly, in over half of all cases where after the bank rejects a PPI reclaim people take it to the independent ombudsman, the bank's rejection is overturned.
"Until we can trust banks to deal with complaints fairly in the first instance, this move to protect their balance sheets should not happen. It is putting the protection of the financial industry ahead of consumers."
Mr Lewis also predicted the deadline would prompt an upswing in spam PPI calls as claims firms try to cash in.
Urging consumers to act themselves, he said: "PPI was systemically mis-sold on loans, credit and store cards, and commonly mis-sold on mortgages and overdrafts.
"If you've had one of those in the last 20 years, check if you've got the paperwork, and if so if it had PPI on it.
"And ensure you reclaim for free - there's lots of help out there, you don't need to pay someone."
Think you could make a claim? Here is The Mirror 's need-to-know guide ...
What should you do?
The FCA says people who are unhappy about PPI should continue to complain to the firms concerned and to the Financial Ombudsman Service if they are not satisfied with the response.
You can also raise a case with the ombudsman if you believe it has been wrongly rejected.
Consumers have until 29 August 2019 at the latest to make their complaint, but some consumers, including those who have previously been told by their firm that they may have been mis-sold, may run out of time sooner - so act now.
Don't use claims management firms
The FCA also adds that making a complaint is free to consumers and most people should not need to use a claims management company to assist them.
New figures released today by uSwitch reveal as many as six million consumers have been ripped off by claims management sharks - companies who make complaints on behalf of consumers for a fee - because banks make it too complicated to complain directly.
"The current complaints process is hitting consumers with a double whammy," uSwitch money expert Thomas Lyon said.
"Not only have they received poor service from their bank but they are then required to trawl through an out of date complaints process just to have their grievances heard.
“The hassle involved with making a complaint has created an opportunity for claims management companies to take advantage of consumers, many of whom will end up being penalised twice."
How to make a claim
If you've a claim to make, do it as soon as possible. The regulator starts its campaign in August - and this is likely to jam up the system.
Write to the company that sold you the policy, explaining why you think you were mis-sold and ask for a refund of everything you've paid plus interest.
If you don't get a helpful or adequate response, write back saying you’ll take the matter to the Financial Ombudsman - this should trigger some action on their part.
If you get another no, write to the ombudsman – it's free and it can all be done online.
The Ombudsman Service's website offers plenty of help on how to make a complaint .
You can also use a free complaints service like Resolver to help you.
If the company that sold you the cover has gone bust, then you should contact the Financial Services Compensation Scheme on 0800 678 1100.
The Ombudsman Service also encourages people to get in touch with it if they are not sure which company is involved. The service can help direct your complaint to the right person at the company, so that they can look into it first of all.
I'm not sure if I was mis-sold - how can I find out?
If this is the case, you may be able to find out through a credit check, providing it's within the past four to six years.
These are free through Clearscore or Noddle . You can also get in touch with a credit report agency such as Experian or Equifax - although this will cost you £1.
Your credit report will detail any loan agreement and terms you've had in the past six years.
You can then speak to the lender, but make sure the terms are the correct ones for the date you took out the credit, because they can change over time.
With mis-selling dating back to the late 1980s, it is possible that you won't be able to trace it on your credit file. In this instance, it is recommended that you get in touch with your bank/banks at the time to find out.
New grounds for compensation
Earlier this year the FCA also proposed plans to revise how firms should handle complaints.
This was in light of the Supreme Court judgment in legal case Plevin v Paragon Personal Finance Ltd (Plevin).
The Plevin case looked at the relationship between PPI premiums and commission, and whether or not consumers were misled simply by brokers failing to disclose these levels as part of selling PPI.
It found that failure to disclose to a client a large commission payment on a single premium Payment Protection Insurance (PPI) policy, made the relationship between lender and borrower unfair.
The Plevin decision means that consumers may now have new grounds to complain about PPI regarding the amount of money that the providers received for the sale if the failure to disclose that commission made the relationship unfair.
If you had PPI and the commission was over 50% and that wasn’t explained to you, then you are due back any commission above that plus interest.
The FCA will also require all firms to write to previously rejected complainants - an estimated 1.2 million who's PPI has been rejected - and are eligible to complain in light of Plevin in order to explain the new basis for complaining to them.


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Ford COO Mark Fields is poised to become the next CEO of Ford Motor Company once current chief-executive célèbre Alan Mulally officially retires from the Blue Oval later this year after an eight-year tenure at the helm, according to reports in Bloomberg News and CNBC. Sources for both stories wished to remain anonymous, but were in agreement that an announcement of the succession could come as soon as May 1.
This is hardly surprising news, really—we’ve seen it coming since 2012—as Fields has steadily risen through the ranks at Ford for the last 20 years, most recently taking a position as chief operating officer in 2012 and steward of the Lincoln brand, which is finally showing signs of life, including in the hot Chinese market. Fields has also been on a bit of a media blitz of late, among other things delivering the keynote address at the New York auto show and appearing at last week’s Mustang stunt atop the Empire State Building.
- Feature: 2015 Ford Mustang: In-Depth With the Team That Made It Happen
- Instrumented Test: 2013 Lincoln MKZ AWD V6
- 2014 Ford F-150 Research: Pricing, Photos, Reviews, and More!
Fields has been in many leadership positions during his time with Ford, running Mazda between 1998 and 2002, heading up the now-defunct Premier Automotive Group between 2002 and 2005, and then serving as the business unit chief of the Americas division until taking his job as COO in 2012. Only time will tell if the Brooklyn-born, Jersey-bred, and Harvard-educated Fields will exercise the same deft stewardship that Mulally used to help Ford avoid taking a government-sponsored bailout in 2008; Fields is more of a corporate guy than a product guru, and in contrast to Mulally—and GM’s Mary Barra, for that matter—is not exactly a breath of fresh air in any particular respect. But he is street smart, camera-ready, and has the blessing of Mulally.


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COO Thomas Tippl confirmed on today's financial call that the pack will be released in the back half of calendar 2010. Tippl provided no additional details, only adding that the pack is currently in development by Infinity Ward.
Earlier in the call, Activision CEO Bobby Kotick stated the company has sold 17 million Call of Duty map packs total on Xbox Live. He also said there has been over 1.75 billion hours worth of Call of Duty multiplayer games on Xbox Live.
The first map pack saw sales reach over one million downloads on Xbox Live in the first 24 hours.


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Microsoft Delivers Silverlight 2
Microsoft announces the availability of Silverlight 2 with new features including DRM and enhanced advertising support. Microsoft also announces funding for an open-source project to create an Eclipse plug-in for Silverlight.Microsoft has announced the availability of Silverlight 2, along with new support for open-source development with the rich Internet application platform and new claims of ubiquity for Silverlight. Brian Goldfarb, director of developer platforms at Microsoft, called Silverlight one of the most comprehensive solutions for the creation and delivery of applications and media experiences through a Web browser. Goldfarb also said Microsoft is providing further support for open source with Silverlight by funding a project to build an Eclipse plug-in for Silverlight and by providing new controls to developers with the Silverlight Control Pack under the Microsoft Permissive License. The Microsoft Permissive License is an Open Source Initiative approved license.
"We wanted to provide developers with the ability to build Silverlight applications using tools other than Visual Studio," Goldfarb said. Microsoft enables developers to build Silverlight applications with Visual Studio 2008 and Expression Studio 2. The company also has extended support to its free Visual Web Developer 2008 Express Edition.


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Government to provide free preloaded BSNL SIM cards to tourists with e-visas
In a bid to make the stay smoother for the foreign tourists when they arrive in India, the government has planned to give free pre-loaded sim cards provided by Bharat Sanchar Nigam Limited to the tourists travelling with e-visa.
The sim cards will have Rs.50, a net data of 50 MB preloaded on it and also a customer service in 12 languages.
Union Minister Manish Sharma says, “It will facilitate the foreign tourists in communicating with their acquaintances immediately after they land in India,” Sharma said.
He added, “Also, they can get information in their own language using our 24×7 Tourist Helpline, which provides service in 12 foreign languages. A Russian-speaking or Japanese speaking tourist can use the helpline easily.”
Union Tourism Minister Manish Sharma, who launched the service, is confident that this would prove to be a successful one.
Tourism Secretary Vinod Zutshi hinted at the possibility of the extension of this service to other types as well which is now restricted to e-visa holders.
The service would be available only at Indira Gandhi International airport in the beginning, but the remaining 15 international airports will be updated in time.
Tourists from 161 countries can avail e-visas on which the free SIM card is available. According to the sources, 10 lakh e-visas were issued in 2016.


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PGA Tour has engaged UK’s gaming company, Bet365 as its Official Betting Operator. The 3 year deal will run from now through 2024.
In the agreement entered into by the parties; Bet365 will become the exclusive source for odds on the leaderboard and player pages on pgatour.com as well on their online application; TourCast.
Bet365 will become the first official betting operator for the organization outside North America; with the territories including the UK, Ireland, Australia and Canada. They will also have a brand presence across the PGA Tour’s media properties, including Discovery platforms in the territories, Bet365 will be active in.
According to the spokesperson for PGA, “Bet365 will be the first operator to integrate the Tour’s official in-play betting product and they are poised for tremendous growth being on the forefront of in-play sports betting in golf”
A spokesperson for Bet365 also expressed their delight in being chosen to work with PGA which is recognized as one of the most iconic brands in global sport.


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The world’s first live streaming platform for cryptocurrencies was launched just in time for the bull market in 2021.
Ran Neuner, Moderator of Crypto Trader On CNBC, he launched the first media channel dedicated exclusively to cryptocurrencies. Nickname CryptoBanter, The station offers a combination of news, opinions, interviews and live discussions with industry leaders.
CryptoBanter is said to be the world’s first streaming platform for cryptocurrencies that is available 24 hours a day, 365 days a year.
The new service is designed to provide viewers an alternative source of “living and reliable information” which you can access at any time without having to go through “Crypto Twitter”.
In one exclusive press release Provided to Cointelegraph, New said:
“Banter was designed to bring Crypto Twitter and Telegram jokes to a credible and moderate audiovisual medium. It was designed to filter out noise and bring information that people can share onto a live streaming medium.”
CryptoBanter describes itself as a cross between CNBC, The Joe Rogan Experience and Talk Radio. Live broadcast is available on YouTube and soon via the future CryptoBanter mobile app.
By Crypto Trader, Neuner has been informing the public about cryptocurrencies and blockchain technology for several years. Interestingly, Neuner’s first guest was Cointelegraph weekend editor Andrew Thurman.
Neuner also moderated the 2019 debate between Bitcoin (BTC) critic Peter Schiff and Anthony Pompliano. At the time, Bitcoin was priced below $ 10,000. The flagship cryptocurrency hit over $ 18,800 last week. 420% more since Schiff accidentally canceled the fund in March of this year.
Although the needle used to measure cryptocurrency adoption has apparently shifted from retailers to institutional investors, a platform like CryptoBanter is banking on consumers’ growing interest in digital assets. Cointelegraph asked Neuner to take over crypto adoption in the years to come. Replied:
“While we are seeing great adoption of Bitcoin as a store of value and a haven from dollar pressures, the actual adoption of blockchain has not yet begun and will take several years.”
“(…) Right now there will be a lot of speculation about investing in this area. Money is made and lost in minutes, and timely information is key. Today there is no live broadcast (…) CryptoBanter tries to close this gap! “


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Almost seven years ago to the day that the five of the largest publishers in the world filed a suit in a U.S. district court against Google, the AAP and Google announced that the parties have agreed to settle their litigation. Although publishing announcements seem tethered to the penumbra of the Frankfurt Book Fair, this is not “stop the presses” material: the publishers have been negotiating with Google for some time, even while the Authors Guild determinedly presses their class action engagement. But what is surprising, perhaps, is that so little has been apparently achieved by the publishers through these long years of uncertainty.
Publishers are left to opt-out of Google’s library-obtained dataset, and can now participate in commercializing older titles that Google has never ceased digitizing both in the U.S. and abroad, even if the rate of library digitization may be slowing. Acceptance of an underwhelming result which leaves nothing changed on the ground, as legal scholar James Grimmelmann of New York Law School notes, marks a pivot from 2007 when the suit was launched with a fulsome and righteous salvo: “Publishers bring this action to prevent the continuing, irreparable, and imminent harm that Publishers are suffering, will continue to suffer, and expect to suffer due to Google’s willful infringement, to further its own commercial purposes, of the exclusive rights of copyright that Publishers enjoy in various books …”.
Well, so much for that.
Indeed, it may be that we have seen one of the last set of necessary rapprochements between publishers and technology companies. In the last few months, we’ve seen coordinated agency pricing aimed at Amazon fail; the Department of Justice intervention against Apple in the same case move forwards even while several of the implicated publishers fold their cards and accept a settlement which requires them to pay reparations to their customers; and GBS – a long-running effort to frustrate the digitization of heretofore commercially abandoned books – dropped by the corner of the road like a plagiarized novel. Using phrasing that my tween would have been comfortable with, the AAP president can only salvage that ““Basically when the case was filed seven years ago, that was a long time ago, and the world has changed a lot.”
Yea, well, yea, basically. After all, unlike seven years ago, many of us are walking around with a smartphone that gives us access to integrated consumer media platforms that deliver real-time terrain mapping (of a sort, if you have an iPhone), offer us more entertainment options than existed in the entire world 20 years ago, bring the world’s literature to our fingertips, and let us share our enthusiasm for our latest consumer purchases with several billion of our best friends. Globalized consumerism has surely swayed publishers that being part of the game – integrating as many books as possible into the media decks of Android and iOS tablets and mobiles – is a necessity. Failure to engage means I listen to Carly Rae Jepsen before going to bed instead of reading literary classics like 50 Shades of Grey. And basically, you know, that would be bad, for publishing.
The tally is intriguing. Publishers reassert the ability to form contracts over books for which they claim digital rights, thereby catching up with the French, who signed a similar agreement in June. Works with contested or uncertain rightsholding claims, unclaimed books, and orphan books remain frozen out of anything but discovery through search, presumably. The friction between publishers and artists has regained striking clarity as the Authors Guild continues to declaim that their rights have been indelicately infringed. Yet, with publishers demonstrating that contractual relationships can be attractive for backlist titles, it wouldn’t be surprising for splinter authors to emerge from the AG cocoon, seeking a marketplace precedent for their own rights. Because publishers are pulling out of litigation a large number of books they now see as assets in an investment partnership, the settlement debilitates the Authors Guild claim that they represent a uniform class with self-similar interests over a comprehensive set of titles.
Some commentators have noted that in addition to any financial compensation for their pain and trouble, publishers receive a digital copy of books they keep in play with Google. The value of that gift is open to debate. First, authors may dispute such a distribution. Second, technical characteristics of these files may limit their utility. Library books are digitized through non-destructive scanning, which means their pages are photographed and then processed through image and optical character recognition software. The results can be reasonably accurate for post-WWII era books that have uniform fonts and structure, but they are not the kind of product that is likely to be placed on a retailer’s top shelf alongside contemporary e-books. Having access to the full-text – if publishers get more than image files – means they can provide books to others for the enhancement of search, semantic mining, and other discoverability features. But as an straight shot to having ready-to-roll EPUBs, well, that they ain’t.
At the end of the day, the publisher litigation with Google feels like the remnant of a bad dream fading in the early morning hours. We are where we must be, except that a small number of authors and their lawyers are still clearly motivated to obtain their own payout for the purported harm done them by the hasty presumptions of networked culture. Hopefully, the absence of a falling sky will spur the minds of judges, lawyers, and juries that our conceptions of rights have evolved over the last 100 years. At the time of the 1909 Copyright Act, to publish meant – more often than not – to actively enter a product into commerce. Today, the majority of our “publishings” have more to do with finding than selling. That one might lead to the other, some have yet to figure out. The AAP, and the publishers it represents, to their credit clearly have.


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CORONA, Calif., Jan. 27 /PRNewswire/ -- The City of Corona, population 150,000, located in the "Inland Empire" region east of Los Angeles, is committed to ensuring local businesses succeed online.
The Economic Development Department, led by Judi Staats has partnered with ShopCity.com, provider of an innovative "bricks and clicks" platform designed to stimulate local economies, to launch and promote ShopCorona.com.
"Our goal is to have every business claim their profile page and start posting their products and services in the ShopCorona.com marketplace, creating a one-stop shop for everything in Corona," says Colin Pape, CEO of ShopCity.com.
The website engages the local community by enabling residents and visitors to post reviews, shop online, download coupons, buy gift certificates and browse restaurant menus. By creating and enhancing the connections between local businesses and shoppers, the City hopes to keep local dollars spent close to home, securing its tax base in a difficult economy.
When Department Manager Judi Staats and Project Coordinator Daniel Rittatore approached ShopCity last summer about the ShopCorona.com domain name the company owned, the two parties quickly realized they were on the same page.
"The ShopCity platform offered our businesses and shoppers all of the tools we wanted to provide for them," says Rittatore. "By partnering with ShopCity, we were able to save tens of thousands of dollars and launch a dynamic 'shop local' program in a fraction of the time using an internet address that doubles as a reminder to 'Shop Corona.'"
The City of Corona will be actively promoting the site through its "Inner Circle Corona" email newsletter and website which is distributed to more than 50,000 households twice a month.
Pape was impressed with Corona's web-savvy team that were heavily focused on using social media platforms Twitter and Facebook as well as email marketing to connect the community. "Team Corona really gets web 2.0, and their goal of transparent local government through technology is visionary."
The campaign goes into full-swing on February 1st. Merchant participation is now being solicited with the help of local business groups and sales partners. Visit www.ShopCorona.com or www.ShopCity.com for more information.
ShopCity.com strengthens local economies by connecting businesses and consumers online through its network of community marketplaces that include ShopNewYork.com, ShopBoston.com and ShopMiami.com.
Colin Pape, CEO


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Samsung has announced that it is discontinuing its mobile messaging service ChatOn from early next year.
According to CNET, the app will cease operating on 1 February 2015 everywhere outside of the US. The American version will shut down at a later date after “existing contractual obligations with US mobile carriers” are fulfilled.
Samsung explained that the closure was finalised so it can focus on delivering its “core services.”
Instant messaging services have come a long way since the first platform to achieve mainstream popularity, Blackberry Messenger. While the service initially targeted business customers, young people soon began adopting BBM, due to the ability to send messages free-of-charge.
However, with Blackberry Messenger only able to connect with other Blackberry devices, many began using instant messaging apps that were compatible with more popular smartphones running Android or iOS operating systems. While BBM is now available cross-platform, its popularity has declined in the face of more successful rival services like WhatsApp, Viber and Kik.
ChatOn was launched in 2011 in an attempt to capture some of Blackberry Messenger’s market share. The app is available in more than 200 million countries and last year boasted of a 100-million strong userbase. Despite this, it seems to have been unable to keep pace with its competitors.
Last year, WhatsApp claimed that 64 billion messages were sent across its network on New Year ’s Eve alone and has an estimated 600 million active users. Facebook messenger, meanwhile has 500 million users.
Samsung has not revealed updated user figures for ChatOn, but the decision to close the service is likely to have been prompted by a decline in popularity.


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“The new digital technology will add to our current folding carton business while bringing new products like labels and flexible packaging to our customers,” says Mike Jorgensen, president. “Our customers will benefit from smaller inventories, quicker turn times and almost nonexistent make-readies, all while receiving the quality that they depend on us for.”
The addition of the press will create an opportunity for Impressions to be a unique packaging provider, “With perfect color registration we can produce small digital runs to compliment large offset runs, that yield little to no variance in color. Combined with printing labels, we can create color consistency across product lines to ensure brand recognition that many companies strive for. We believe that this will help change the way people look at packaging,” adds Jorgensen.
The HP WS6600 allows for up to 7 color printing on a 13” web, and Impressions has added an ABG Digicon Series 2 converter to work alongside the press. The ABG Digicon can add specialty finishes in-line to facilitate production including; cast and cure, cold foil, lamination, and a variety of coatings.
“We have the technology and processes in place to become the complete solution to customers packaging needs,” adds Greg Newman, process engineer.


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LIMA – Exports of Peruvian textiles and apparel could grow between 6 percent and 8 percent in 2018, a year after sales totaled $1.3 billion, the exports director at PromPeru, the Andean nation’s tourism and export-promotion agency, told EFE.
That expected rise is part of a trend stemming from promotional efforts launched four years ago, Luis Torres said.
Heirs of an ancient textile tradition, Peruvian apparel makers have seen their industry make a recovery in recent years, including export growth of 6.1 percent in 2017, according to the official.
“We’re starting to see the results of work carried out over four years in markets such as the United States with new approaches, Brazil, Mexico, Europe and Asia,” Torres said.
“We hope to grow between 6 and 8 percent this year, but the challenge is to get back to $2 billion in exports,” the level that existed a decade ago, he added.
On Wednesday, PromPeru inaugurated the 21st edition of the Peru Moda and Peru Moda Deco 2018 fair, an event in which some 1,000 foreign buyers have the chance to familiarize themselves and do business with more than 250 Peruvian exhibitors.
“The idea this year is to surpass (last year’s) figure of $108 million” in contracts, Torres said.
To that end, some 7,000 industry professionals have been invited this year to the Lima Convention Center, the venue for the 2018 edition of this annual event.
This year’s fair is giving small firms from Arequipa, Cusco, Ayacucho, Junin, Puno, Piura, La Libertad, Huancavelica and Lima the chance to pitch their products to major retailers such as Mexico’s Liverpool, La Martina of Argentina and Frame LA Brands.
There are “very strong expectations that these buyers, around 50 percent of whom are new, will be able to find an exportable supply consistent with the market niches in their respective countries,” Torres said.
These specialized buyers are looking for both novel offerings and Peru’s flagship cotton and alpaca fibers, but they also are seeking suppliers with a view to developing their own brands, Torres said.
A group of buyers at the event also has come with an interest in acquiring Peruvian brands, the official said.
The Peruvian exporters include some 30 firms that have been registered as eco-friendly apparel makers and which have received buyers interested in their wares, as well as some 40 firms that specialize in crafts, decorative items and jewelry.
Peru Moda also includes the traditional runway shows and – this year – forums focused on sustainable fashion, innovation and trends in the international market.
The US and Brazil are among the main destinations for Peruvian apparel exports, while alpaca garments have a strong presence in Europe and Asia, Torres said.
In keeping with PromPeru’s strategy for the continued global expansion of Peruvian brands, the first alpaca store in China will mark its first full year in 2018 and the first Peru Textiles store will open in Brazil in the year’s second half.


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Apple is in talks with HarperCollins Publishers about offering e-books for the upcoming Apple tablet device, a news report said late Monday.
Details haven’t been finalized but the publisher is expected to offer the e-books with “added features” and to determine their prices itself, The Wall Street Journal said in the report, citing unnamed sources. Apple would take a cut from the sales, it said.
Apple has also met with other publishers, but it was unknown if Apple would open a new online store for the books or sell them through iTunes, the report said.
Apple has invited reporters to an event in San Francisco on Jan. 27. The company reportedly plans to use the event to unveil a much-hyped but still unconfirmed tablet-style device that could blend e-book, Web-surfing, and other multimedia functions.
HarperCollins recently said e-books could sell for higher prices if loaded with extra features like social-networking applications, video or author interviews, according to the report. The publisher’s talks with Apple could pose a challenge to Amazon.com, currently the biggest player in the e-book market. Amazon sells e-books for viewing on its popular Kindle e-reader.


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Home' Trinidad and Tobago Guardian : July 6th 2017 Contents JULY 6 • 2017 guardian.co.tt BUSINESS GUARDIAN
NEWS | BG5
Taking T&T to the world
The Trade and Investment Con-
vention (TIC) 2017 will con-
tinue to open new opportuni-
ties for local companies said
Christopher Alcazar, presi-
dent of the Manufacturers'
He added that this is important at a time
where the country needs to diversify the econ-
omy and earn new avenues of foreign exchange.
"TIC is the biggest trade show of its kind
in the region and serves as a vehicle for other
regional and international entities to show-
case and be seen in a larger forum. It helps to
create opportunities for our members so they
can meet new/potential buyers. This will al-
low them to have opportunities to explore new
markets with hope of increasing exports which
will lead to earning greater foreign exchange for
our economy," he told the Business Guardian
in an email on Monday.
TIC takes place from today to July 9 and
more than 10,000 people are expected to be
present at the international trade show.
This year there will be more than 275 exhib-
itors at the show with over 210 booths.
This year's TIC theme is: "From T&T to the
World" with the event entering its 18th year.
Alcazar said that oil prices may never return
to the pre-2014 range and so companies need
to develop new streams of income.
"Our nation has traditionally depended on
the revenue generated by the oil and gas econ-
omy. However, due to a downturn---and many
predictions pointing to never again attaining
the levels of revenue which we were used to
earning---the manufacturing sector has no
choice but to play an integral role in the di-
versification effort. Through forums such as
TIC, we will have an opportunity to showcase
our products and services to the rest of the
world. Hence this year's TIC theme: From T&T
to the World.
He also said business connections would be
made, meetings will be held and meaningful
progress will be made in the effort to drive
"Exporting more will mean that we as
manufacturers will play our part in earning
much-needed foreign exchange for T&T's
economy. When this happens this will aid to
set our country on the path to recovery."
Alcazar said it is also an opportunity for the
local consumers to evaluate how the products
of local companies are doing on the market.
In some cases, exhibitors are launching
new products thus it is an ideal opportunity
for market research.
"The show also provides opportunities to
learn about new markets via the numerous
seminars we are having. One such seminar
is Doing Business with the European Union
(EU), where we have the European Commis-
sion coming and doing a free seminar on doing
business with Europe. You do not have to be an
exhibitor to be part of this process. You can sign
up for free to take part in this seminar. Spaces
are limited so individuals and companies are
encouraged to sign up early. For registration to
the TIC, visit www.ttma.com/tic and register."
Alcazar said some of the exhibitors are the
usual supporters such as SM Jaleel, Nestle and
New to the show this year is an automotive
industry section which will host companies
such as the National Gas Company (NGC),
Massy, Race Track Company and Rainworks
There will also be smaller businesses and
companies taking part.
"We also have other smaller exhibitors but
powerhouses in their own right such as Shazam
Industries and Trinidad Chocolate Factory. To-
bago has a pavilion for their smaller producers
and talented craft contingent," he said.
Exhibitors from the Caribbean---Jamaica,
Suriname, Barbados, St Lucia, Guyana and
Grenada---will also be participants of the
Regional exhibitors will come from Costa
Rica, Panama, Peru, Cuba, Dominican Repub-
lic, USA and Canada.
Alcazar spoke about large delegations com-
ing from Latin American countries like Ven-
ezuela and Cuba.
"We also hope to have more than 200 in-
ternational buyers present. We have a large
delegation coming from Cuba and Venezue-
la. Buyers are also coming from the USA, the
Caribbean and Latin and Central America. We
would really like to get business transacted on
the days of the show and it is our hope that
some of our members would be able to find
new market opportunities and/or investment
He added that they are facilitating more than
200 business-to-business meetings on today
"Furthermore, we seek to add value to par-
ticipants by facilitating seminars during the
business days. This year we have many exciting
seminars, most of which simply require reg-
istration with the host organisation." Alcazar
He concluded by saying that the trade show
is about creating value for their members.
"Thus, ultimately, once value can be created,
possibly through new markets or exposure to
clients (local and international) or perhaps us-
ing the show to launch products in addition to
being introduced to new suppliers and distrib-
utors, it is important to achieve added value."
PHOTOS: ANDRE ALEXANDER
TIC turns 18
Links Archive July 5th 2017 July 7th 2017 Navigation Previous Page Next Page


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Solar Energy provision in the UK is experiencing a boom as we near the middle of 2023. With the price of wholesale fuel fluctuating wildly, energy bills rocketing and natural resources becoming more and more scarce.
Solar Power in The UK - The Fall and Rise of an Industry
Article from | Robert Cathcart
Solar Energy provision in the UK is experiencing a boom as we near the middle of 2023. With the price of wholesale fuel fluctuating wildly, energy bills rocketing and natural resources becoming more and more scarce, we can all see the reasons people are looking to produce their own electricity. And, while we’d all like to believe that solar panels popping up all over the country is the result of people becoming more conscious of the green issues and global warming, the bottom line here is money.
The good news is that, whether people are environmentally minded or not, Solar Power is becoming a huge industry in the UK. The technology is getting better, people are much more informed, and the advantages are obvious. The cost of installing a solar system in your home has reduced by over 80% in the last decade and, the more people sign up to it, the cheaper it’s going to get – supply and demand.
But, it hasn’t always been this way.
UK Solar History
The year is 2010 and the UK government is looking for ways to boost the take up of renewables and reduce Britain’s reliance on fossil fuels. By the beginning of 2011 they had 2 schemes running to incentivise both the public and businesses to invest in renewable energy – the Feed In Tariff and the Renewable Obligation Certificate.
The Feed in Tariff
Also known as the FiT, it was introduced in April 2010 and used to encourage the expansion of domestic solar …. and it worked, for a while. The original idea behind the FiT scheme was to pay anyone generating renewable electricity a set amount for the power they produced.
Eligible installations had to be either Solar photovoltaic (solar PV), Wind, Micro combined heat and power (Micro CHP), Hydro and Anaerobic digestion (AD). And have a capacity of up to 5MW, Megawatts or 2kW Kilowatts for Micro CHP.
The scheme was open to anyone included generators, people who owned accredited installations and FIT licensees who registered applications and made FIT payments.
There were 2 ways to earn, a ‘generation tariff’ where households were paid for a rate for each unit (kWh) of they generate … and the export tariff where each unit (kWh) exported to the electricity grid was paid for.
Generators were typically paid 45.6p per kWh and the costs of the scheme was spread across all licensed electricity suppliers in Great Britain through the ‘levelisation’ process, based on their share of the market.
FiT contracts were for 10 to 25 years and many households in the UK still have them.
Renewable Obligation Certificate
The Renewables Obligation scheme came into effect as early as 2002 and was created to encourage electricity generation from renewable sources. Electricity suppliers were obligated to show Ofgem Renewables Obligation Certificates (ROCs) for every megawatt hour (MWh) they had supplied to customers every year. If a supplier had not reached a specific target, they could make up the short fall by paying into a ‘buy out’ scheme.
Solar In The UK from 2010 - 2015
It is no surprise that the interest in solar really took off in 2010 with figures for solar installations reaching nearly 29,000… an incredible increase on the year before which was just 4,500.
In 2011, that number rocketed to almost 250,000 as people started to make some serious money by installing solar on their roofs, around factories and on farmland. Good for the people making the money but the success of solar was its undoing.
Eventually, the boom stopped in 2015 when the FiT tariffs were reduced, in legislation, and the rates people were getting paid started to drop dramatically. This directed affected the domestic sector as households could no longer break even on their investment quickly.
It did give a slight advantage in the large scale, utility level solar installations and they became more profitable – if you had the room, you could make a killing by selling your electricity back into the grid.
Decline in Solar Take Up in UK Post 2015
Much like the UK’s double glazing ‘White Gold’ boom in the 80s, the solar boom of the 2010s was over by 2015, and there were 2 main reasons for this.
The huge decline in domestic installation was mostly blamed on the fact that households could no longer rely on a tidy profit from the power their solar systems produced. Prices for Feed in Tariffs dropped as low as 6.61p per kWh for the typical, family home. On top of this, a lot of installers were not registered, professional or ethical. High pressure sales techniques were often used to sell customers shoddy, overpriced and low efficiency panels. Polycrystalline panels were the norm, and these are no longer used in domestic installs in the UK as their efficiency rates mean you need a more panels than would fit on the average roof to generate enough electricity for your home, never mind selling it.
As for commercial installations, in February 2016, the government restricted the number of new sites that could be accredited under the scheme each in ‘tariff period’ … which for most types of generation tech was three months. With less scope for a sure-fire investment, the solar farm building stated to drop dramatically.
On top of all the regulation, red tape and cowboy installers, there was also competition from fossil fuels, nuclear and other, less intrusive renewables like wind, and Solar started to wane in it’s popularity.
The Reinvention of the Solar Industry
Fast forward a few years to 2019 when the whole world got shut down by Covid-19 and the surprise winner from everyone being at home was Solar power.
One could opine that, as people had more time on their hands, they were getting more interested in renewable energy, or it could have been the fact people were at home more and the energy they used was increasing their bills, or maybe everyone just enjoyed the cleaner air that came with less traffic and industry.
Whatever it was, people were becoming interested and various bodies had been talking to the government about ending the FiT scheme to replacing it with something else. The good news for the customer was, solar energy equipment had dropped in price by almost 80% in the 10 years since 2009.
FiT was replaced in 2019 by the SEG, Smart Export Guarantee, that put a legal obligation for energy suppliers to offer home generations a buy in tariff, the downside was that the energy companies could set the price at which they bought the electricity. Of course, some suppliers weren’t in the list bit interested in buying energy from private generators, so they offered very small incentives like 1 to 2p per kWh.
On the other side of that coin, newer suppliers were marketing themselves as 100% renewable energy providers, so they are still encouraging customers with variable tariffs that can pay as much as 40p per kWh.
The future is so bright we’ll have to wear shades, and those panels will be pumping our sustainable energy for everyone.
Ok, that might be a bit optimistic but, in the last 2 years, we have seen a massive increase in domestic solar. Industry analysts have put this down to panels becoming more efficient, battery storage dropping in price while rising in capacity and the scarcity/price of fossil fuels. Throw in green issues become more prominent and the war in Ukraine to finish the perfect solar storm.
The company I work for, Solar Fast, was named the 180th fastest growing company in Europe by the Financial Times for the period 2021 – 2022, which made us the fastest growing solar provider in the UK, which is a fantastic indication that the industry is going from strength to strength.
This trend shows that, while subsidies can help an industry to get going, that industry cannot rely on them for ever and, post subsidy, the UK domestic market is steadily increasing year on year, following the predictions made by Solar Portal in 2021.
The content & opinions in this article are the author’s and do not necessarily represent the views of AltEnergyMag
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Unless you’ve been living under a rock this week, you’ve probably noticed that the Amazon rainforest has gained some coverage, both in the news and on social media. Sadly, this media spotlight is for all the wrong reasons.
Read on to find out more about the latest threats to the Amazon, the role of this mighty rainforest in the fight against the climate crisis, and how you can do your bit to protect this precious rainforest and its inhabitants.
Why is the Amazon worth protecting?
Spanning a whopping 9 countries across South America, the Amazon is the world’s largest tropical rainforest. Famous for its rich ecosystems, untouched communities and (sadly sought-after) natural resources, this ecological wonderland is home to 10% of recorded species, despite only covering around one percent of the earth’s surface- bonkers! For us here at Rickshaw, the Amazon is home to some of our most-loved community experiences and wildlife encounters, from caimans and pirañas to sloths and toucans.
More significantly, however, is the role that the Amazon plays in helping us combat the climate change crisis. It’s often referred to as our planet’s “green lungs” which is a pretty fitting nickname considering the rainforest absorbs 14% of all atmospheric CO2 emissions.
But this week our hearts have broken as we watch fires rage through the rainforest at an alarming rate, destroying vital habitats and plunging cities into darkness. This is devastating and, like many others, has left us feeling helpless. Afterall, the Amazon is supposed to absorb carbon emissions, not produce them.
Why is the Amazon burning?
Deforestation is the number one threat to the Amazon right now, with 17% of the forest disappearing in the last 50 years (WWF). Much of this loss is due to the clear-cutting of trees and land in order to create space for cattle farming and oil palm plantations. As part of this deforestation process, fire is often used as a way of clearing space and burning waste. But not only do these fires threaten the delicate ecosystems that thrive here, but it means that dangerous levels of CO2 are emitted. This, in turn, has a knock on effect on rising temperatures which impacts the whole planet as we face rapidly changing weather conditions.
According to WWF, over 70,000 fires have been recorded in the Amazon this year alone – 85% more fires than were seen last year. “Land is cleared and prepared for agriculture through fires, but not normally at this intensity.” (WWF)
What can we do to help?
We know that the health of our planet depends so much upon the health of the Amazon rainforest, which makes the footage of the fires all the most difficult to watch. But we can make a difference. Granted, we might not be able to pour bucket-loads of water over the flames ourselves, but if you’re feeling hopeless and want to do your bit to help protect this magnificent rainforest (now and in the future) here are some practical tips:
1. Spread the word
Right now, the world is waking up to the devastating impact of deforestation. Since the blaze hit headlines this week, many have questioned the level of coverage this news has received. In response, numerous hashtags have started trending, including #savetheamazon and #prayforamazonia. Let’s keep the momentum going by sharing information and action with our friends and family. The more we can inform eachother and unite together, the louder our voices will be to help influence urgent change.
2. Support emergency services & communities in need
Though the fires are raging thousands of miles away, there’s a lot we can do from the comfort of our homes. By donating to emergency appeals (such as WWF), you can support local services in reaching affected communities, supporting emergency relief to those in need, raising awareness and advocating for stronger laws.


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Geneva to end tax breaks for commodity tradersPUBLISHED: 19 Oct 2012 05:39:41 | UPDATED: 19 Oct 2012 05:41:19PRINT EDITION: 19 Oct 2012
Geneva plans to eliminate tax breaks for commodity trading houses by 2018, bowing to European Union pressure at the risk of helping drive away businesses which account for a big part of its financial sector.
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Sling TV CEO Roger Lynch talks pricing, DVR, and certified hardware.
TiVo's new interface tries to predict what you'll watch, but it's not just for DVR boxes anymore.
The networked tuner builder discussed DVR delays, new hardware, and a semi-secret exchange program at CES 2017.
What's next for AirTV: DVR and more streaming integrations, but probably no networked tuner.
Universal Electronics' concept remotes adapt to what users are doing.
Tablo's new gear includes a DVR app for Android TV, a simple way to stream live TV to connected devices, and a "concept" DVR in the cloud.
Should you cut the cable TV cord? Here's how to decide.
Life without cable got even better this year with new streaming services and better devices on which to watch them.
DirecTV Now has attractive pricing and some clever ideas, but it's dragged down by too many problems.
Sling TV DVR has some issues to work out in beta testing, but even now it's better than nothing.
How Sling TV’s new packages and add-ons work, including Sling Orange and Sling Blue.
The Apple TV's new TV app to replace your home screen, but it's almost useless without a cable login.
The LeakSmart Sensor is pricey, but it's unique in offering an optional, straightforward means of remotely shutting off water in an emergency.
Insteon's Water Leak Sensor is cheap by the bunch, but lacks an internal alarm and other helpful features.
The Honeywell Lyric Water Leak and Freeze Detector is the best standalone sensor you can get.


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Wilko Administration Update: More Store Closures and Job Losses Expected
Administrators overseeing the fate of the UK-based homeware retailer Wilko have announced further staff reductions and store closures, in addition to the 1,300 job cuts that have already taken place. PricewaterhouseCoopers (PwC) revealed this development, stating that over 50 stores are scheduled to close nationwide in the coming week. Meanwhile, discussions with potential buyers interested in acquiring parts of the business are ongoing.
Just a month ago, discount retailer B&M revealed plans to purchase 51 Wilko stores for up to £13 million, shortly after Wilko entered administration. The future of Wilko, which operates 400 stores and employs 12,500 people, remains uncertain.
Canadian entrepreneur Doug Putman was initially in talks to acquire a majority of Wilko’s stores—possibly up to 300—from the administrators, but recent indications suggest that this may have been scaled back to a smaller number.
As the situation continues to evolve, the fate of Wilko and its employees remains uncertain amid ongoing rescue talks and negotiations.


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“The company is treating its customers as people, a clearly unsustainable business model,” concludes a leaked internal report outlining the first round of Starlink’s beta testing.
Starlink, a subsidiary of Elon Musk’s SpaceX, aims to bring high-speed internet across the globe via a constellation of low-orbit satellites, many of which have already been launched. The company is almost two months into its beta tests, and numerous testers have expressed high levels of satisfaction with the product. However, a critical flaw in the business model has been uncovered in a leaked report cataloguing the performance of the beta test.
“Our top competitors in the high-speed internet market (Comcast, AT&T, Spectrum etc.) have optimized atrocious customer service to the point where people have come to expect a certain level of torment when dealing with customer representatives,” said the internal report, which was intended only for high-level executives. “Our service lacks this fundamental feature, which if left absent could crush customer adoption.”
The report was first leaked on Telegram to subscribers to a popular SpaceX newsfeed. The identity of the leaker has not been confirmed, but securities analysts are saying that the damage to the brand has already been done.
“The big internet providers have spent decades building their business on top of unforgiving customer service and convoluted billing and contracts to support their reputation as devious thieves,” said Barclays Telecommunications Analyst James DeMarco, “If Starlink’s service does not plan on including inflicting pain and robbing its customers, it is highly unlikely they will survive in this cutthroat market.”
Starlink executives did not respond to media inquiries on the link, but a short message was posted to their homepage following the news.
“We are saddened by the unplanned release of a draft internal report highlighting some of the challenges we are overcoming with our beta test. That said, we remain firmly committed to bringing high-speed internet to the world. Rest assured, our engineers are working on the deficiencies our beta test has uncovered and we will include the painful and confusing service experience that our customers have come to expect of their internet service provider.”


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Those high tech strollers can just step aside. There’s a new high-tech gadget on the market and it just so happens to be tucked inside your baby’s onesie.
According to a recent mention on HuffPo Parent’s blog, a new company, Exmobaby is working to release the first ever baby onesie that is able to monitor and report on your newborn’s heart rate, skin temperature and movements.
This “wireless biosensor baby pajama” is able to emit a regular signal to a PC (sorry Mac, friends) or cell phone every 60 seconds allowing a parent to notice trends and even, once enough data is gathered, interpret baby’s moods, cries and fits to understand exactly what they need using an emotion detection algorithm.
(Obviously) aimed at first-time parents the makers of this baby onesie hope it gives new parents peace of mind and make it easier to “focus on and meet the challenges life brings.”
Ignoring the obvious issues I already have with this over-the-top technology, my biggest concern is the long-term effects of having my baby’s body wrapped in signal-emitting wires and batteries. Though the website claims that a baby has a higher risk of choking than developping radiation-related health hazards…umm, no thanks. I’m not interested in taking the risk.
Oh! But wait! If you’re like me and don’t want your child exposed to radiation at all, there is hope for you. They are working on a non-wireless version where the information is displayed on the baby’s garment using woven fiber optic displays. But, according to the website: This would eliminate the need for wireless transmission but would still require someone to actually look at the baby itself.” Oh my.
Exmobaby hopes to find distributors and supporters of their product that will make it more affordable to the mainstream. But for now, you can pick one up for a cool $1K. Now just to decide on pink or blue….
So what do you think, mamas and dads? Is this technology to the extreme or is this a taste of parenting in the future? Talk to me.


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What They Are Saying: Historic GDP Numbers Highlight Bidenomics in Action
October 26, 2023
Today, the U.S. Bureau of Economic Analysis announced that real gross domestic product (GDP) increased at an annual rate of 4.9 percent in the third quarter of 2023, reflecting the strength of Bidenomics as it spurs remarkable economic growth nationwide.
Here’s what they’re saying about Bidenomics delivering historic results …
@EwallWice: “So US GDP soared to 4.9% in Q3!
Up from 2.1% in Q2
Not too great for the whole ‘the economy is bad’ narrative…”
@JStein_WaPo: “New report from Treasury touts US economic boom https://home.treasury.gov/news/featured-stories/the-us-economy-in-global-context”
@byHeatherLong: “JUST IN: US GDP soared to a blockbuster 4.9% in Q3. That’s the highest since the end of 2021 and a big uptick from 2.1% in Q2.
Strong consumer spending and gov’t spending drove the growth.
Bottom line: No recession in sight.”
@RepGwenMoore: “Under President Biden’s leadership, we’re witnessing unprecedented economic recovery and growth. Job creation is soaring, businesses are thriving, and opportunities are expanding for everyone. #Bidenomics”
@JustinWolfers: “Blockbuster GDP report shows real GDP grew at an annual rate of 4.9% in Q3, blowing even optimistic expectations out of the water.
This economy is going gangbusters, and it’s time for the doomers to apologize for being consistently wrong for two years.”
@MarkZandi: “What recession? Today’s GDP report shows the economy’s extraordinary resilience. Consumers are doing their part, businesses are hanging tough, and the infrastructure legislation and CHIPS Act are providing a tailwind. The boomy gain overstates the strength as the inventory accumulation won’t continue, and growth will soon throttle back, but this report should allay recession worries.”
@RepDarrenSoto: “Another BIG economic report today as the U.S. economy remains strong!
GDP grew at a staggering rate of 4.9% last quarter, surpassing expectations. At the same time, unemployment numbers remain near historic lows at 3.8% + inflation continues to slow.
- Politico: “Why a stellar economic report may spell peak ‘Bidenomics’”
- Business Insider: “The US economy is growing at the fastest pace in 2 years ”
- ABC News: “US economy grew at blistering pace in 3rd quarter”
- CNBC: “U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected”
- Fortune: “U.S. economy glows red hot with a 4.9% GDP reading for the third quarter”
- Yahoo Finance: “GDP: US economy grows at fastest pace in nearly two years”
- Washington Post: “U.S. economy grows at blockbuster pace in third quarter”
- New York Times: “U.S. Economic Growth Accelerated in the Third Quarter”
- Axios: “U.S. economy sizzles in Q3, defying slowdown fears”
- MarketWatch: “GDP jumps 4.9% as the U.S. economy speeds up”
- Bloomberg: “US Economy Grew at a 4.9% Pace Last Quarter, Fastest Since 2021”
- BBC News: “US economy grows at fastest pace in nearly two years”
- Financial Times: “US economic growth accelerated to 4.9% in third quarter”
- US News & World Report: “Economy Surged in Third Quarter, Growing at Annual Rate of 4.9%”
- The Guardian: “US economy grows at fastest pace in nearly two years in third quarter of 2023”
CNBC World: “I think the macro is important. When we get down granularly with the data, I think the FED is about to get a gift. We just set GDP today at 4.9%.”
Bloomberg: “One of the strongest pillars of the economy has been the US consumer, you can see that today in the GDP data that has been revealed. The US consumer continues, continues to confound expectations. Economists continue to underestimate what is happening here.”
FOX Business: “Looks like we’ve got GDP at 4.9%. That is the first read on third quarter GDP. That is a surprise on the upside. We had been expecting, consensus was 4.3%. You can see that’s a big positive number … Look at this 4.9% is well over twice second quarter GDP which was 2.1%, first quarter GDP 2%. So you can see some really strong expansion here.”