text:
The tourist sector comprises a significant part of the Thai economy. It provides one in six job opportunities and accounts for approximately 13-14% of the country’s economy.
Thailand has been hailed by the World Health Organization as a success story in its handling of the outbreak.
But plans to reopen borders to foreign tourists have been postponed due to local resistance over concerns of a second wave of infections.
While a new long-term special visa programme (STV) has been announced, it requires for tourists a mandatory 14-day quarantine and minimum 90 day stay.
In January, Thailand received more than 3.5 million foreign tourists. Due to Thai’s reliance on the tourist sector, it is one of the most vulnerable economies to the COVID-19 impact.
China normally accounts for the most significant percentage (30%) of tourists visiting Thailand. It plays a vital role in underpinning the nation’s tourism sector.
Thailand felt the impact of Covid19 on 23 January as soon as China stopped travels and imposed a quarantine on Wuhan City.
The Thai government enforced the state of emergency on March 26 until April 30 and imposed a 10pm to 4am curfew on April 3. The emergency decree was then extended five times until the 30 of October.
Suddenly, Bangkok temples and markets became less crowded. The tourism sector will continue to deteriorate as more and more countries lock their borders and impose restrictions. The tourism-related gaming industry is one of the key sectors likely to be affected by the COVID-19 impact.
Anonymous sources from the Asian GClub casino (จีคลับ) informed us that, initially, 15% of the tourists in south east region where casino is allowed were playing slots (สล็อตออนไลน์) during their visit. However, this percentage has reduced significantly to 0.1%.
Traders in Bangkok’s commercial district have observed a decrease in the number of customers. Key attractions such as the Grand Palace, Wat Pho, Lumphini Park, Sathorn Unique Tower, and the Maeklong Railway Market, initially filled with tourists, are deserted now.
The streets are also abandoned. As such, the epidemic has been disastrous for small-scale businesses such as drivers of the Chiang Mai minibuses, traditional dancers, and flower sellers.
Employees also feel the impact of the coronavirus. Some hoteliers sent their employees on unpaid leave to cut down their operational costs. Even with the declining market and jobs, most of these people have mortgages and bank loans to service.
They only hope that the government will help them by delaying or cutting social security payments and tax payments and offering soft loans.
Hoteliers in Bangkok have not been spared. Before the outbreak, and particularly during the high season, hotels enjoyed 80 to 90% occupancy.
When Thailand reported its first cases, the hotel occupancy rate dropped to 65%. Other than occupancy, hoteliers also had to reduce their regular rates by 10 to 20%. For instance, the Sugarcane Boutique in the northern capital of Chiang Mai has had over 200 cancellations of room nights with no new bookings.
The future of the tourism sector over the next few months remains uncertain
So far, Thailand has 2,811 COVID-19 cases. According to the Ministry of Public Health, 655 are receiving medical treatment, 2,108 discharged from health facilities, while 48 died.
Although the nation has fewer cases than Japan, Korea, China, and Italy, tough times lie ahead for the tourism sector. The impact depends on the restrictive measures implemented and how long the pandemic will last.
We can only hope that the epidemic does not last for more than five months, as the impact would be disastrous for the tourism-dependent economy.
In March 2020, the Thai economy contracted at a higher rate than the previous month, said the Bank of Thailand in a press release.
The COVID-19 outbreak affected economic activities more severely in all aspects. In particular, the tourism sector severely contracted due to international travel restriction measures in many countries including Thailand.
It is unclear what the economy would look like after COVID-19. However, flight costs are likely to drop amid the epidemic. Travel costs are expected to drop to 50%, compelling tourists to cash in on the more affordable traveling opportunities.
Also, after the pandemic, more tourists will prefer more private hotel spaces. Private hotels will benefit after covid-19 compared to the large hotels with communal sharing spaces and any rooms, which encourage crowding.
Travelers will re-venture the industry cautiously with the concept of social distancing in mind. Assuming that Airbnb survives the COVID-19 crisis, it is in an excellent position to boom after the epidemic. In the same social distancing spirit, big hotels will be less popular compared to small villas, and tourists from Europe will avoid crowded spaces during the first year after recovery.


text:
According to Adobe first year operation results Russia has been called one of the most priority countries. By QIII FY 2007Adobe sales in Russia grew by 260%. The company’s local Representation Office has got its development plan.
Source: cnews (Russian IT Review)
The company Adobe has announced its results of being present in the Russian market for a year. Adobe most demanded product is currently Creative Suite 3, then goes Adobe Photoshop and Acrobat. Pavel Cherkashin, Head of the company’s Representation Office in Russia, states product packages are in greater demand than separate programs.
By Q III FY 2007 Adobe product sales in Russia grew by 260%, while the company’s similar index worldwide grew by about 40%. Adobe does not announce the absolute sales index, as well as the Russian stake in the total sales volume.
Mr. Chrkashin tells Russia, CIS and Eastern Europe States are the company’s priority markets. As Adobe main sales are focused on Moscow, the company plans to actively expand into the Russian regions. As for CIS, Adobe is to pay attention, first of all, to Ukraine and Kazakhstan. The company’s products are being currently localized (Adobe Acrobat, Adobe Reader and Creative Suite Russian versions have already been prepared), Ukrainian localization has already started (Adobe Acrobat, Adobe Photoshop, Adobe InDesign, Adobe Illustrator versions in Ukrainian have been issued). The company plans to issue its other key products in the mentioned languages.
The other fact proving that Russia is one of the most priority markets for Adobe is that the company’s Representation Office in Russia has expanded from 1 to 6 employees, and the company plans the office to further expand (about 30 employees is to work for the company in 2009 in Russia). The Russian Representation Office has even got its development plan. The main tasks for 2008-2010 is the active fighting with piracy, including cooperation with BSA, and some other additional measure, which are to reduce the pirated products under the company’s brand by about 70% (at present the pirated product index is about 84%), according to Adobe plans.

domain: news


text:
Whatever the reasons for losing weight, slimming down is something on the minds of many people. Therapists and life coaches, Nik and Eva Speakman, known as The Speakmans, shared their top tips to help Britons shape up this year.
- Weight loss: Top fat-burning exercises to slim revealed
The couple explained how slimmers can get into shape by taking a look at what they already eat and being patient.
The life coaches appeared on This Morning today to share their top tips on the best way to slim down.
Set realistic goals
They explained those hoping to lose weight should think about what they want to achieve and set realistic goals to help them get there.
They said: “Most people say, I want to lose weight, as soon as you lose a pound you’ve succeeded, so stop.”
By clearly setting up what they hope to achieve, slimmers will be able to achieve the goals.
Look at what you already eat
Many Britons will strive to follow a strict diet plan when they try to lose weight.
However, the experts revealed dieters can look at what they already eat to see what they can cut back on.
The experts said: “If anyone has put weight on it’s happened over a period of time.
“Ninety-eight percent of diets fail because they’re not sustainable long term, what we see is people then feel they’ve failed.”
Instead, dieters can stay motivated by figuring out when they started to overeat and what caused this.
“Look at how you eat, what you’d like to change and why you started overeating in the first place,” they added.
“Overeating is a symptom and behind it there is always a cause.”
- Alan Halsall weight loss: Soap star used this trick to slim down
Those hoping to lose weight can also opt to find healthier versions of the foods they already enjoy.
Doing this, and making an effort to eat intuitively will help dieters achieve their weight loss results.
They explained: “We know what we should do, we know we should not overeat.
“It comes down to conditioning, the foods you like the most are ones you had as children.
“At what point did you start putting weight on? We all have habits around food.”
When trying to lose weight and stay motivated, they revealed dieters should track what they eat and be patient with the results.
“When you want to give up a lot of foods because you want to eat less, it’s difficult.
“Don’t rush, it can take a long time. keep a food diary, look for alternatives.”
These tips could help dieters figure out the best way for them to slim down.
Source: Read Full Article


text:
Media 100 has released Media 100 version 11.5, which adds Firewire I/O and support for Panasonic P2 and HDV to the nonlinear editor.
The version 11.5 release streamlines the Media 100 workflow by allowing users to leverage Panasonic P2 technology and integrate popular third-party applications, according to company president Boris Yamnitsky.
- Support for FireWire I/O using Pure DV;
- Support for Panasonic P2 Format;
- Support for HDV leveraging the HD-Connect SI box from Convergent Design.
For more information, visit: www.media100.com.
The latest product and technology information
Future US's leading brands bring the most important, up-to-date information right to your inbox
Thank you for signing up to TV Tech. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.


text:
Investors look to shrug off a tough week tomorrow after watching the Dow Jones Industrial Average (INDEX: ^DJI) fall 218 points last week on a plethora of negative news in the U.S. and abroad. Last week's 1.7% decline brings the blue chip index's year-to-date return just south of 5%, a 3.5% dip from 2012 highs on the first day of the month. Do stocks have further to fall this week, or will the market climb the proverbial wall of worry?
While Friday's Facebook IPO will take the main stage this week, markets will undoubtedly continue to home in on the modern-day Greek tragedy unfolding across the pond as well as first-quarter GDP reports around the eurozone. Also likely to capture its share of headlines this week is amped-up political rhetoric in the wake of JPMorgan Chase's announcement of a $2 billion loss from a hedge gone astray. The blurring definitions of risk-management and risk-taking within banks is the topic du jour as negative sentiment spreads across the sector, affecting other big names such as Bank of America (NYS: BAC) and Citigroup (NYS: C) .
On the earnings front, the nation's retailers will attempt to provide some much-needed positive news for investors. Will slowing domestic employment growth weigh on results? U.S. retail bellwethers Wal-Mart, Target, and Home Depot will garner much of the attention, with smaller participants such Sears Holdings (NAS: SHLD) and J.C. Penney (NYS: JCP) also adding their own unique storylines to the mix. J.C. Penney is attempting a bold turnaround, as former Apple star Ron Johnson attempts to free the retailer of its stodgy department-store reputation and breathe new life into the brand by reconfiguring store layouts and transitioning its pricing strategy toward "everyday low prices." Sears has taken bold steps of its own of late, selling off stores to shore up its balance sheet as losses continue to mount.
While we love to hear about the stores we know and love, the fact remains that some of the best retail investing opportunities aren't found on U.S. soil. In fact, one foreign retailer has our analysts so excited they've made it "The Motley Fool's Top Stock for 2012." With a visionary leader at the helm and a huge, untapped market well within its grasp, this company is taking Latin America by storm. Find out more by reading our special report, yours free.
At the time thisarticle was published Brenton Flynn owns no shares of the companies mentioned above. The Motley Fool owns shares of Citigroup, Bank of America, Apple, and JPMorgan Chase.Motley Fool newsletter serviceshave recommended buying shares of Home Depot and Apple, creating a diagonal call position in Wal-Mart Stores, and creating a bull call spread position in Apple. The Motley Fool has adisclosure policy. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


text:
2008 News Archive - Holidays - Malta 'climbing the popularity ladder'
20 12 2007
Malta is reportedly climbing the popularity ladder in terms of its attraction as a holiday destination.
According to Holiday Lettings, the location now attracts families over the school holiday periods.
The island nation must compete with the established summer holiday getaways of Spain, France and Italy, however, which the company notes are "still" the most popular destinations for holidaymakers during the school break.
Meanwhile, the Association of British Travel Agents (Abta) has asserted that 2008 will be "another great year to travel".
Regions which it predicts will be popular in 2008 include Colombia, China, the Alps and Singapore.
Abta also notes that cruising was popular in 2007 and is likely to continue this trend in 2008.


text:
Managed services provider eacs is reporting a ten-fold increase in enquiries for support from businesses looking to open new satellite offices in the UK and UK-based businesses looking to gain a footprint in the EU.
Specifically, the overwhelming number of leads coming into eacs are from financial services businesses looking to open offices in the UK for the first time. The MSP is also reporting that many of its existing customers are looking to open in mainland Europe to ease burden of the new regulations and paperwork requirements. A majority of these customers are predominantly in the pharmaceutical, agricultural and food markets who routinely have to export their products to Europe.
Chairman and Chief Executive Kevin Timms, said: “This uplift in sales opportunities is as unexpected as it is welcome, given the uncertainty surrounding the impact of Brexit and the continued situation concerning COVID-19. Supporting distributed enterprises and remote working are the two big asks we are seeing right now and that is applicable to existing customers or new leads from either side of the channel.”


text:
If scarlet is the new black and the 1980s are, well, back again, then as far as designer paper trends go, uncoated is definitely the new coated. But like fashion, developments in paper are cyclical, so the current fondness among designers for uncoated stock could be short-lived.
“Uncoated paper has been extremely popular since a more refined stock was introduced from the US a few years ago,” says Very Interesting Paper Company “guru” Marnix Zetteler. He then lists many properties of uncoated stock that make it the designers’ favourite: it is easier to read, more cost-effective, stylish, contemporary and modest.
It stands out because the market is still crowded with shiny coated paper, adds Paul Sudron, senior designer at Edinburgh-based design consultancy Graphic Partners. He says clients often associate gloss with quality, when the reality is most consumers see it as lower class, not least because they equate it with throwaway mailshots printed on coated paper.
Most designers are united in praise of uncoated paper’s most redeeming feature – its tactility. “The feel of a paper is as vital as its look,” says Sue Skeen, managing director of Skeen & Co, which designed the new Habitat catalogue, printed entirely on uncoated stock. “It has a natural, unpretentious quality, and despite being bulkier is actually light,” she adds.
Skeen refutes the conventional view that uncoated paper is unkind to photographs and images by draining the colour. “Uncoated stock does soften extremely bright colour and the sharpness of some images, but it accentuates light and dark. It was highly effective with the editorial-type images we used for the catalogue, which were romanticised and given visual cohesion throughout.” But uncoated paper is not just preferred for its aesthetic properties. Clients are increasingly choosing uncoated paper because it sends out environmentally friendly messages.
In fact, many coated stocks are equally Green, but do not appear socially aware because of the high-gloss factor. Annual and environmental reports for the charity and utility sectors in particular are increasingly printed on uncoated stock for this reason, says Sudron. But this is a fast-diminishing print sector, due to the continual growth in on-line annual reports.
Educating clients, who are often unreceptive to new developments in paper, is designers’ greatest challenge, says Zetteler. “Designers are slowly getting across the uncoated message to Mr Unilever and Mr Boots the Chemists – they are my sales people,” he says. As for the future, Natasha Hornsey, Paperlink manager at paper manufacturer Robert Horne, believes the industry is heading for a surge of interest in alternative papers, such as transparent, fluorescent and metallic stocks. “Weird and wonderful papers will hit the market over the next few years,” she says. “Many will sink, but some will swim and enter the mainstream.” Skeen at Habitat is already considering a move away from uncoated paper.
Whatever paper is currently in vogue, designers must treat it with due respect, says Jane Milroy, Curtis Fine Papers marketing manager. “Uncoated paper is used as part of the design process. We encourage designers to think early on about their choice of paper,” she says. Sudron agrees. “Paper stock should be a graphic device, not an afterthought.”


text:
Although there is a little less than a week left before the presentation of the iPhone 14, copies of unannounced smartphones are already being sold in China with might and main.
An unboxing copy of the iPhone 14 Pro appeared on the Amazing Unboxing channel. The smartphone looks like renderings of a device that has been circulating the web for almost a year: two cutouts in the display, a massive camera block, and the exact location of other elements.
At the same time, many elements could not be repeated: the display frame is thicker, and the “chin” from below is generally scary. But a copy is a copy!
Inside the fake iPhone 14, Pro is an MTK6580-level chip, 2-3 GB of RAM, and two 8 and 13 MP cameras. It runs Android 11 with a shell that mimics iOS 16. You can find such a smartphone on AliExpress and other sites for $100.


text:
Ryanair bets on 888.com deal
Ryanair has teamed up with online betting service 888.com to roll out a gambling platform on the budget airline's website that offers customers the chance to win flight vouchers.
Ryanair: signs deal with 888.com
Consumers can make bets with online chips through the Ryanair website, or while playing online casino games, poker and sportsbetting.
Ryanair believes its half a billion visitors to the site per year will boost its betting partnership with 888.com.
Stephen McNamaras, communication's director at Ryanair, said: "Ryanair already delivers Europe's lowest airfares and with 888.com we now deliver the best online gaming entertainment to half a billion annual visitors to Ryanair.com.
"The world's first poker tournaments featuring Ryanair flight vouchers as prize money are sure to excite gaming and travel fans throughout Europe who will also find casino, bingo and sportsbetting on Ryanair.com."
This article was first published on marketingmagazine.co.uk
Latest jobs Jobs web feed
- Account Director - Top London Advertising Agency c£50k Fill Recruitment Ltd c£50k, Central London
- Senior Brand Manager Ball & Hoolahan £55,000 + Car/Car Allowance, London
- Senior CRM Planner Direct Recruitment £80,000 - £95,000, Central London
- Planner Direct Recruitment Up to 60k plus benefits, Central London
- Junior Recruitment Consultant, Insight Team Hasson Associates £Competitive , Central London
- UK Digital Lead Hasson Associates £70,000 - £83,000, Central London


text:
A prototype for Ford’s next-generation Explorer has been spotted once again. The vehicle is expected on sale in 2019, as a 2020 model.
The last time the Explorer was redesigned was in 2011, when the popular SUV adopted car-like unibody construction and an inline-4 as the base powertrain. The 2020 model should follow a similar formula, though it looks to be growing in size.
The photos hint at evolutionary changes to the Explorer’s styling for the upcoming redesign. There’s still a big, blocky shape plus space for three rows of seats, and the treatments for the lights and greenhouse appear similar to the current model.
Ford has much more radical changes for the parts we can’t see, however. The 2020 Explorer is expected to be one of the first models to ride on Ford’s next-generation platform for larger models. Code-named D6, the highly flexible platform is thought to accommodate front-, rear- and all-wheel-drive configurations.
The Explorer is expected to ride on a rear-wheel-drive configuration but offer all-wheel drive. This configuration is expected to be the same one Lincoln uses for a revived Aviator, which the Ford luxury brand will likely use to replace the unloved MKT.
Ford’s newfound love of aluminum should continue with the 2020 Explorer to help reduce weight and in turn improve economy.
And once again the base powertrain should be a turbocharged inline-4. For performance fans, a new Explorer ST has been confirmed. It will likely replace the current Explorer Sport, which comes with a 3.5-liter twin-turbocharged V-6 good for 365 horsepower. A hybrid option is also confirmed for the 2020 Explorer.
Stay tuned for updates as development continues.


text:
The Agricultural Engineers Association has released the latest sales figures for the major tractor manufacturers, which show John Deere still holding a commanding lead.
As usual, the EU’s competition rules mean the figures can only be made public 12 months after they are collated, so the ones we are able to publish refer to 2012’s tractor sales.
Although they are slightly out of date, they still provide a good insight into the state of the market and the relative success of the major manufacturers. This time around it was two Agco brands – Massey Ferguson and Fendt – that appeared to be the biggest winners. Meanwhile, Claas and John Deere were two household names to take a significant sales hit in 2012.
In total, the 2012 UK tractor market was worth a respectable 14,964 units above 50hp. That was a small drop from 2011’s 15,217 unit sales and above the 14,486 machines sold in 2010.
John Deere retained top spot, meaning it has been now been number one for 14 years running. Total 2012 sales reached 4,734 units, which equated to 31.6% of the market. That was up on 2010’s 4,427 unit sales, but couldn’t quite beat a great year for the green giant in 2011, which saw 4,972 tractors sold and a 32.7% share of the market.
Second place, again, went to New Holland. It sold 2,737 blue-liveried tractors in 2012, which secured it 18.3% of the market. Like Deere, it was down on the 2,758 tractors it sold in 2011 but above the 2,612 units sold in 2010.
The biggest mover was Massey Ferguson (including Challenger), which upped its unit sales from 1,851 in 2010 and 1,884 in 2011 to 2,005 tractors in 2012. That meant triple-triangle tractors made up 13.4% of the UK market.
The fourth biggest seller was the second major brand from the CNH stable. Case IH’s total tractor sales tallied 1,377 in 2012, an increase on the 1,332 sold in 2011 and 1,160 in 2010. The rise in sales meant its market share moved to 9.2%.
The rest of the manufacturers are pretty closely matched. Fendt increased its market share to 5% thanks to the 747 tractors it shifted in 2012. That was a decent increase on the previous year’s 668 tractors sold and from 2010’s 593 units.
Next in the rankings comes Claas, which has seen a dip in sales since 2010. The 643 tractors sold gave the German maker 4.3% of the market in 2012, but sales have dropped considerably from the 904 units sold in 2010.
Kubota comes next but it, too, reported a sales decrease. 2012 saw 615 tractors sold, which gave the ambitious Japanese firm 4.1% of the market. That was a little down on the 653 and 655 tractors sold in 2011 and 2010 respectively.
Flying the flag for Finland was Valtra, which had posted decent increases in sales for 2010 when it sold 553 units and 2011 when it sold 627. However, it dropped slightly to 554 units for 2012, which gave it 3.7% of the market.
Deutz-Fahr sold 449 tractors in 2012 and claimed 3% market share, up from 416 in 2011 but down from 2010’s 498 units.
Agri Argo’s major brands – McCormick and Landini – both recorded a rise in sales. The former sold 299 tractors in 2011 and 346 in 2012, which secured it 2.3% of the UK market. Landini moved from 135 in 2011 to 144 in 2012, which gave it a 1% share.
JCB’s sales totalled 161 tractors and 1.1% of the market. That was down from a steady 191 units in 2010 and 190 in 2011.


text:
Apple has announced an expansion to its security arsenal with a new feature called Lockdown Mode, which will be introduced officially this fall with iOS 16, iPadOS 16 and macOS Ventura.
This optional feature will be of particular interest for individuals who might be at higher risk than the average user of a cybersecurity attack.
SEE: Mobile device security policy (TechRepublic Premium)
What exactly is the Lockdown Mode feature?
Lockdown Mode will provide an extreme, optional level of security for users who activate it. It will harden device defenses and strictly limit certain functionalities in order to strongly decrease the attack surface of the device and increase its protection against mercenary spyware (Figure A).
Two different kinds of attackers can be stopped with Lockdown Mode: Real spyware providers and hackers-for-hire. The latter tend to use less advanced techniques to try to compromise Apple’s devices but still represent a threat, while the professional companies active in the cybersurveillance business have more skills and capabilities for advanced attacks.
Once launched, the Lockdown mode will restrict devices in the following categories:
Most message attachment types other than images will be blocked. Link previews, amongst other features, will also be disabled. The idea here is to avoid having the user unsuspectingly open a file that could infect the device with malware.
Incoming invitations and services requests will be blocked if the user has not previously sent a call or request to the initiator. This way, the user can not be targeted via an unknown source of call or request.
Wired connections with a computer or accessory will be blocked when the iPhone is locked. This will prevent physical exploits that an attacker could use to attempt to take control of the device via network or device communication capabilities.
Configuration profiles will not be installed, and the device will not be able to enroll into mobile device management while Lockdown is turned on.
Apple also mentions they will continue adding new protections to the Lockdown Mode over time. A new Apple Security Bounty program has also been launched for the security research community to reward people who would find ways to bypass the Lockdown Mode and help improve its protections, up to a maximum of $2 million.
“Apple makes the most secure mobile devices on the market,” said Ivan Krstić, Apple’s head of security engineering and architecture. “Lockdown Mode is a groundbreaking capability that reflects our unwavering commitment to protecting users from even the rarest, most sophisticated attacks.”
Who should use Lockdown mode?
According to Apple, the feature has really been developed with the idea of protecting “the very few users who, because of who they are or what they do, may be personally targeted by some of the most sophisticated digital threats, such as those from the NSO Group and other private companies developing state-sponsored mercenary spyware.”
Over the last two years, reports around the business of spyware and the companies behind it have increased greatly. The business of cybersurveillance or surveillance-for-hire, a polite way to refer to spying, is now extremely monitored and tracked by some of the major companies on the Internet like Meta and Google.
Helping research organizations
In addition to the announced release of Lockdown Mode, Apple also announced a $10 million USD grant to “support organizations that investigate, expose and prevent highly targeted cyberattacks.”
The grant will be made to the Dignity and Justice Fund, established and advised by the Ford Foundation — a private foundation dedicated to advancing equity worldwide — and designed to pool philanthropic resources to advance social justice globally. The Dignity and Justice Fund is a fiscally sponsored project of the New Venture Fund, a 501(c)(3) public charity.
Disclosure: I work for Trend Micro, but the views expressed in this article are mine.


text:
The switch to summer-blend gasoline has driven up prices across Southern California, breaking an all-time high record in Orange County, the Auto Club reported Thursday.
The cost of an average gallon of regular self-serve gas in Orange County rose 5 cents in the past week to $4.70, the report said.
“Refineries began shipping out the more expensive ‘summer blend’ of gasoline to Southern California gas pipelines on Monday, while oil prices have climbed by more than $10 a barrel in the past month due to world tensions and OPEC concerns,” said Auto Club spokesman Doug Shupe. “If the upward pressure for gas prices continues, we could see new record prices in all Southern California areas in the next couple of weeks.”
Elsewhere, rising prices neared record highs set late last year.
For California, the average price for self-serve regular gas is $4.66, rising 2 cents over last week and 5 cents below the record $4.71 reached in late November. The average national price is $3.41, 6 cents higher than a week ago.
In the Los Angeles-Long Beach area prices rose to $4.72 per gallon, 5 cents higher than last week, 4 cents higher than last month, $1.23 higher than last year and equal to a record price set Nov. 27.
In Riverside, prices rose 4 cents over last week to $4.63. That’s also 2 cents higher than last month, $1.23 higher than last year and 5 cents below the record.
The Auto Club recommends cost-conscious drivers to combine errands for fewer trips, don’t speed and shop around for the lowest gas prices using smartphone apps.


text:
An $888,000 grant from the Australian Government has been awarded to Seafood Industry Australia (SIA) to develop and expand markets for Australian seafood exports.
Minister for Agriculture and Northern Australia David Littleproud, Assistant Minister for Forestry and Fisheries Jonno Duniam and Member for Fisher, Andrew Wallace said the grant would develop and deliver the industry’s Export Market Strategic Plan.
Mr Wallace said there was huge growth potential internationally for Sunshine Coast seafood.
“Not many people know that here on the Sunshine Coast we have the largest long-line tuna and prawn fishing fleets on the East Coast. Fishing on the Sunshine Coast generates $42.5 million in direct sales every year, with more than $30 million in exports, and I know that with fantastic local leaders like Walker Seafoods and Rockliff Seafoods we have the potential for so much more.” Mr Wallace said.
“The Morrison Government understands the importance of this industry to Australia and our region, and we understand that by building up the Great Australian Seafood brand, we can tell the rest of the world what we already know – that Australian seafood, and Sunshine Coast seafood in particular, is the best in the world.” he said.
“By working in partnership with Austrade, SIA will assist in designing a promotion schedule for Australian seafood in export markets to get to the right people with the right message and the right time to make a difference for our local industry.” he said.
“This plan will focus on expanding into new markets, and markets with high growth potential,” Minister Littleproud said.
“A key part of the plan is investigating and analysing new potential markets, such as North Asia, South Asia, the Pacific, Europe and the Americas with rock lobster and abalone a key focus.
“SIA will engage two Trade Export Managers to build capacity for seafood exporters across Australia.”
Assistant Minister Duniam said the grant would allow for greater interaction with potential consumers.
“There are swathes of consumers out there who want to enjoy seafood that is sustainably caught, clean and green, and this is an opportunity to connect with them,” Assistant Minister Duniam said.
Seafood Industry Australia CEO Veronica Papacosta said a key piece of the program would be the creation of a one-stop-shop for seafood exporters.
“There is a plethora of information, resources and databases out there for seafood exporters, however it can be difficult for producers to keep track of them all and know how to find them,” Ms Papacosta said.
“We are planning to create a digital platform that will curate all the resources in one place. This will allow our producers to focus their time on delivering the world’s greatest seafood to all corners of the globe.
“Importantly, this funding will support whole of industry, regardless of sector or location. It will allow us to immediately put boots on the ground to quickly deliver much needed support to the sectors who need it most.
“We’re grateful for the continued support of the government, and look forward to developing new market opportunities to promote our Great Australian Seafood internationally under the umbrella of brand Australia.”


text:
MGC Pharmaceuticals Ltd (ASX:MXC) (OTCMKTS:MGCLF) has signed a binding term sheet with one of Israel’s leading cannabis brands for the exclusive wholesale import, sales and distribution of CannEpil® in Israel.
Phase IIb clinical trial upcoming
It will also see CannEpil® imported for a phase IIb clinical trial, which is due to begin next quarter following Israel Ministry of Health final approvals.
MGC Pharma's co-founder and managing director Roby Somer said: “We are very pleased to have our first Israeli commercial distribution agreement for CannEpil® in place with one of the leading companies of medical cannabis in Israel.
"There is a strong need for epilepsy medication in Israel and the agreement with IMC has the potential to be transformational for MGC following successful clinical trials.”
Access to distribution network
Through IMC’s exclusive commercial agreement with Focus Medical Herbs Ltd it has access to the existing distribution network in place with Super Pharm, Israel’s largest pharmacy chain, in addition to other pharmacies in Israel.
MGC Pharma is in discussions with the Israeli Ministry of Health for clinical trial approval and for an early access scheme approval to sell CannEpil® through registered doctors in Israel.
This would replicate what is already in place in Australia, the United Kingdom, Ireland and Brazil for this product.
There are now more than 82,000 people in Israel suffering from epilepsy and approximately 30% are unbalanced pharmacologically and experience seizures with different frequency and intensity, making it difficult for their daily functioning and routine.
Term sheet details
The term sheet will see IMC appointed as exclusive wholesale importer of CannEpil® in Israel for five years with exclusivity subject to IMC’s compliance with the minimum annual level of sales agreed to by both parties.
IMC will be responsible for the registration of CannEpil® in Israel and the procurement of all permits and licences required for importation and commercialisation of the product in accordance with the general regulatory procedure and, if practicable, under any early access scheme.
It will also be responsible for the promotional activity and distribution of CannEpil®.
Under the term sheet each purchase order is to be a minimum €50,000.
The potential financial impact of sales and revenues generated under the agreement will only be determined in the future following the company receiving purchase orders from IMC.
MGC Pharma will continue to own all the intellectual property rights associated with CannEpil® and be responsible for the products continued development.
The distribution agreement with IMC follows the recent announcement regarding the Ethics Committee approval for the Phase IIb clinical trial of CannEpil® in Israel.
“New era of cannabis-based products”
IMC CEO Oren Shuster said: “We are embarking on a new era of cannabis-based products around the world.
“The next generation of medical cannabis products will be driven by evidence-based research and IMC plans to remain at the cutting edge of cannabis medicine which aligns with its vision for leadership in the global medical cannabis industry.
“As investment in research, development and commercialisation of treatments like CannEpil® advances over time, IMC will seek to enter into similar agreements for the distribution of innovative products in all the markets in which it operates.”
Shuster added: “We have great respect for MGC’s commitment to innovation and its ability to develop novel medical cannabis products.
“Combining MGC’s intellectual property with our local knowledge of the Israeli market is a formula for success and we look forward to working with them for the betterment of medical cannabis patients in Israel and across the world.”


text:
Taiwanese computer manufacturer Acer has jumped on the cellphone business bandwagon and seems to be getting into full swing. The company is expected to launch as many as 10 Windows Mobile phones in 2009 and while no formal announcement has been made to date, Acer’s head of mobile-phone products Aymar de Lencquesaing said it was very likely that the company would have put out an Android device by the end of 2009. There is no doubt that the globe's third largest computer company has decided to not only make a strong statement about its wireless division, but also has the recources to back it up. Mr. de Lencquesaing went on saying that Acer also planned to become one of the world´s top 5 handset manufacturers by 2012. This is a goal that Acer might be indeed able to achieve. When the company introduced some of its Windows Mobile handsets
at the MWC this February, the devices looked stylish with an abundance of of up-to-date features, meant for both the U.S. and European markets.
That doesn't mean it will be a cakewalk for them. In an separate interview, de Lencquesaing estimated that in order to become one of the top five in handset production, his company would have to sell between 20 to 25 million devices in the region. Sounds like a lot of phones that would have to be sold and with a successful PC franchise, why even bother going into the smartphone business? The answer is that the Chairman and CEO of the company J.T.Wang believes that eventually, smartphones will replace the PCs altogether.


text:
First Wine Brand Scores One Million Facebook Fans
We got a press release from Constellation Brands yesterday announcing that its digital marketing program for one of its most popular brands, Arbor Mist wine-with-fruit, has reached a significant milestone: the garnering of one million Facebook fans.
This is the first milestone of its kind for a wine brand according to Socialbakers, a social media analytics platform which allows brands to measure, compare, and contrast the success of their social media campaigns with competitive intelligence.
According to 2012-2013 research, 35 percent of Arbor Mist fans have increased their brand purchases since joining the Facebook community. The same research also showed that these fans purchase about twice as many bottles of Arbor Mist than non-fans per shopping trip. Approximately 90 percent of the same fans also recommend Arbor Mist to their friends and families, a key driver behind wine purchase decisions.
“Technology is an integral part of wine consumers’ lives, in fact our 2013 research indicates that wine consumers spend 22 hours each week online; that is more time than they spend with any other form of media,” said Karena Breslin, vice president Digital Marketing, Constellation Brands. “As a company, we strive to connect with consumers everywhere they are to drive increased awareness and loyalty for our products. Digital marketing initiatives help us create these connections resulting in strong consumer engagement which is crucial in today’s business environment.”
Constellation invests about 15 percent of its total marketing budget in digital programs. “Digital and social marketing programs have proven to be strong and profitable strategies for the Arbor Mist brand and we plan to constitute a large portion of our marketing spend into the future,” Martin said. “As technologies continue to mature, we will evaluate our digital and social offerings to make sure we are interacting with our consumers where they spend their time.”


text:
The 20-Dollar Art Show
October 30, 2021 through November 10, 2021
In the fall of 2013, Bright Place Gallery in Bend debuted The 20-Dollar Art Show as a vehicle for artists to share their art with the public in a low-pressure setting where they could build confidence selling art. The Gallery did not take a commission. The artist kept 100 percent of sales and the art show was a success for all.
Fast-forward to 2019. The annual show displayed more than 2,100 pieces of art from 120 local and regional artists, amateur and professional. On opening night, 900 pieces sold in three hours for $20 each. Like many beloved events, the COVID-19 pandemic put the brakes on the thriving local art show. Now, The 20-Dollar Art Show is returning and moving to the spacious gallery walls of the High Desert Museum.
Bend’s biggest little art show is back, presented by Bright Place Gallery.
At this year’s opening event on Saturday, October 30 beginning at 5:00 pm, participants will enter the High Desert Museum through the large meadow. The snaking line will allow for physical distancing, and face coverings will be required both inside and outside of the Museum. A limited number of participants will be allowed inside the Museum at a time to provide for adequate spacing indoors.
Participants will be required to show upon arrival proof of COVID-19 vaccination or a negative COVID-19 test taken within 72 hours and a photo ID. Those under 12 years of age are welcome without a vaccination card or negative test.
Art lovers may begin lining up at the Museum’s meadow entrance at 4:00 pm. While guests wait, local poet and artist MOsley WOtta will MC the event, with special guest Killy Holiday. The event takes place the day before Halloween and participants are encouraged to wear costumes. Participants should come prepared for the elements, rain or shine.
Local artist Monica Helms has shown her colorful, impressionistic work since the show’s inception. She witnessed the show go from a handful of artists and patrons to hundreds of fellow art lovers and buyers waiting in long lines for their chance to view and purchase artwork.
“The 20-Dollar Art Show is pure inspiration and joy, the perfect catalyst for creativity and growth,” said Helms. “I’m so excited that the show is going to be at the High Desert Museum this year. It’s a perfect venue for an incredible community-inclusive art event. I couldn’t think of a more perfect combo.”
Other popular local artists creating work for The 20-Dollar Art Show include Abby Dubief, Amanda Toms, Evan Namkung and more than 100 other local and regional artists.
Art will become available to take home starting Monday, November 1. Buyers may pick up their purchases during Museum hours, 10:00 am to 4:00 pm daily, through the show’s closing on Wednesday, November 10. Artwork is for sale throughout the duration of the show and each $20 piece directly supports the artist.
Registration is now closed. Tickets are available at the door.
Click here to discover everything you need to know about your visit to the High Desert Museum!
20-Dollar Art Show Opening Party
Saturday, October 30
5:00 pm – 9:00 pm
Location: High Desert Museum
The Museum is honored to host this year’s 20-Dollar Art Show, featuring thousands of pieces of original art by over 100 local artists. Join us to celebrate with live music, food, drinks and $20 art. Costumes encouraged. Portions of the event will be held outside, rain or shine. Come dressed for the elements!
$5 per person
Participants will be required to show upon arrival a COVID-19 vaccination card or a negative COVID-19 test taken within 72 hours and a photo ID. Those under 12 years of age are welcome without a vaccination card or negative test.
Everyone is required to wear a face covering outdoors and inside the Museum.


text:
Its crunch time for smartphones to prove what they can do in the medical world. researchers at Rice have developed a a smartphone peripheral they call Mobilevision to image the most sensitive part of the eye in high definition.
Fuji is claiming a breakthrough in new aluminum-air batteries, with a commercialized design coming in 2015. If successful, the new battery technology could dethrone lithium-ion altogether and revolutionize the EV industry.
Adobe’s Lightroom has been popular on the iPad and iPhone since it was introduced for iOS nine months ago. Now, it is finally available for Android users — as long as you’re running 4.1 Jelly Bean or later.
No cash, no credit cards, and now no driver’s license needed. The state of Iowa will soon be releasing a dedicated app that will effectively serve as a complete replacement for the traditional plastic driver’s license, and other states will likely follow suit.
With every release of the iPhone, Apple dramatically improves the wireless radio capabilities in ways that no other device maker has ever matched. With the iPhone 6 and iPhone 6 Plus, Apple continues that trend, setting the bar even higher than ever before.
Both AMD and Intel have announced support for varying degrees of Android-on-Windows, but while the two companies are taking different approaches, the greater question remains: Does anyone want a dual-booting solution outside of IT environments?
The rapid adoption of iPhone and Android smartphones to track medical health is nothing short of revolutionary. With regulatory oversight that might extend permission astride protection, professional level diagnostics once restricted to hospitals, will become the banquet of any individual who seeks it.


text:
By Janet I. Tu, The Seattle Times –
LOS ANGELES — Microsoft sent word Monday that its “major” announcement will be made at Milk Studios in Hollywood Monday afternoon.
According to its website, Milk, based in L.A. and New York, “stands at the crossroads of the fashion, music, photography and film worlds. … Milk spans contemporary culture and is a hub for supporting partnerships with some of the industry’s most visionary talent and innovative brands.”
Milk Studios, apparently one of New York’s most famous photo studios, started its Hollywood branch a few years ago as magazines and advertisers increasingly turned to celebrities, rather than models, for their campaigns, according to a 2009 Los Angeles Times article.
“To accommodate shooters and their red-carpet clientele, Milk Studios plans to build an elaborate facility near Paramount Studios capable of catering to the needs and whims that emerge when celebrity and high fashion meet,” the L.A. Times story says.
One of the founders quoted in the L.A. Times said they named their studio “Milk” because “it is one of the most beautiful-looking words.”
So what could all this mean for Microsoft? An Xbox Surface? (That’s what the latest rumors are saying: That what could be unveiled Monday is a 7-inch tablet called Xbox Surface. Liveside.net has what it says are leaked specs.) Or could it be an Xbox-brand tablet with Milk Studios content? More celebs across all of Microsoft’s content? Airtime via Facebook on Bing and Xbox?


text:
Earlier this year, when we announced that our friends and strategic partners at RedBird Capital joined the FSG partnership, we outlined our desire to further expand our enterprise through the acquisition of other sports and media companies.
Today, we are pleased to share that FSG has made an investment into The SpringHill Company (TSHC), a growing and dynamic entertainment business founded by LeBron James and Maverick Carter that was created to empower athletes, artists, and brands. TSHC has seen tremendous success including the blockbuster hit “Space Jam: A New Legacy,” UNINTERRUPTED’s “The Shop” on HBO, several original projects for Netflix, and partnerships with blue-chip brands like Nike, Chase, and Walmart.
We have always believed in the power of doing business with first-class organizations led by talented individuals. This new investment further deepens our connection to our longtime partners LeBron and Maverick, both of whom are also members of FSG’s ownership group. Under their continued management, and with new investment to fuel them, they are poised to grow their thriving content company internationally and expand into new sectors, products, and relationships with new creators. In addition to our participation, this deal has brought together a consortium of investors comprised of leading global sports and entertainment companies including our partners at RedBird Capital along with Nike and Epic Games.
This is an exciting time for FSG as we continue to pursue opportunities that expand the FSG portfolio and create a spirit of innovation, collaboration, and growth. Thank you to every member of the FSG family who has helped get us to this stage. We hope you share our enthusiasm about this new chapter.


text:
ZhongAn: Insurtech Giant Believes in Blockchain’s Transformational Power
“Insurance is backed by statistics and blockchain will help to connect that massive and varied data,” said Chen Wei, the head of technology at ZhongAn Online Property and Casualty Insurance, China’s largest online insurer. “It will be used to manage risk and improve pricing.”
According to South China Morning Post, ZhongAn currently has data-sharing agreements with more than 100 hospitals in China to help them streamline their existing records and claims.
“Insurance sales used to rely on agents and individual salespeople, however, younger generations prefer making online purchases,” said Chen. “Insurance clients no longer need to file paper documents as proof; instead they can just say when and which hospital they attend.”
ZhongAn Technology Uses Blockchain Technology in Their Operations
ZhongAn Technology is a specialized incubator that emerged from Zhong An, the first entirely online digital insurer in China. It was initially founded in 2013 by Jack Ma, the Alibaba Group Chairman, Pony Ma Huateng, the Tencent Holdings Chairman, and Peter Ma Mingzhe, the Ping, an insurance chairman. ZhongAn Technology currently serves 10 Chinese insurers. ZhongAn tech helps these companies tailor their services to their customers and improve risk analysis.
The Insurtech startup also uses blockchain technology for many operational processes. Chen mentioned that the company uses blockchain to store their insurance policies securely from ZhongAn online, its parent company.
ZhongAn Technology has also partnered with Shanghai’s insurance regulatory bureau to create a reinsurance platform that is powered by the blockchain. The idea is to improve security and traceability of reinsured policies. “We are trying to combine blockchain with real-life scenarios,” said Cheng. Furthermore, ZhongAn Technology also has a team dedicated to exploring new and emerging technologies.
China Takes the Lead When it Comes to Blockchain Technology
Blockchain technology has gained significant momentum in China despite the government’s crackdown on cryptocurrencies in 2017. China has even become one of the first countries to include blockchain technology in their state-level policy. They have written the use of blockchain technology in their 13th five-year plan which consists of a roadmap of government developments from 2016 to 2020.
According to the World Intellectual Patent Organization by Thomson Reuters, more than half of the 400 blockchain-related patent applications in 2017 also came from China. While many of these applications may not be approved, the sheer number of blockchain patents from China show that they are moving at a fast pace when it comes to blockchain technology.
“They are a tool that can shut out competitors and provide first movers an advantage,” said Alex Batteson, Thomson Reuters’ Practical Law editor. “Many of the largest companies in the tech world make the majority of their income from licensing patented technology.”
China’s President Xi has also stated in a speech after visiting the Chinese Academy of Sciences that emerging technologies like blockchain, quantum computing, artificial intelligence, mobile communication and the internet of things are a “new generation of technologies that accelerate a breakthrough in applications.”


text:
Ben Kuo has been a fixture as an evangelist for startups and innovation in Southern California for many years.
They actually recorded this conversation several months ago, and yet it's almost timeless, as the challenges they face in business, in startups and in the ecosystem largely persist.
Ben is the founder of SOCALTECH LLC, a company that provides regional high tech news, interviews, venture deal flow tracking, and more.
SOCALTECH's flagship publication is socalTECH.com, a web site focused on high tech in Southern California.
Carey considers Ben the tip of the spear for startup, tech and investor news in the region, and remembers him as one of the first folks he met in the community when he arrived back in the early 2000s.
Before focusing on SOCALTECH, Ben was a product manager and engineer for Troika Networks, which was in storage area networks. He also started and sold a website RealEats.com for restaurant reviews, well before Yelp!
Thanks to Ben Kuo for many years of support for Southern California entrepreneurship!
Subscribe to Ben's SoCal Tech free newsletters here.
WHAT’S YOUR NEWS? - Does your company have articles, events, or announcements to share?
OR, WHAT DO YOU THINK? LEAVE A COMMENT BELOW!


text:
It’s that time of year again and the Ontario Maple Syrup Producers’ Association (OMSPA) is pleased to announce the return of Fall in Love with Maple for its second year. This event was launched for the first time in 2021 and public response was so positive this event will now become an annual offering for maple syrup lovers.
Running from Sept. 24 to Oct. 2, Fall in Love with Maple includes participating sugarbushes from 23 locations across Ontario and is an invitation for people to get out and see the fall colours in some of the most beautiful locations in the province.
“We are so excited to be hosting this event again in 2022,” Leann Thompson, Chair of the OMSPA Maple Weekend working group said. “When the leaves change colours in fall it transforms a sugarbush into an amazing explosion of colour and we are excited to share that experience with others.”
Hosted by OMSPA, Fall in Love with Maple is a celebration of the Canadian tradition of maple syrup production, and features two weekends of activities and specials at participating maple syrup producers across the province. This fun, free, family-friendly event will run daily on Saturday and Sunday between 10 a.m. and 4 p.m. *Participating sugarbushes may limit their participation to specific weekends or days and visitors are encouraged to check the website before heading out.
Visitors to participating sugar bushes can expect to experience the best of fall, like vibrant foliage featuring brilliant shades of gold, orange, and red. The event will feature guided or unguided trail walks, outdoor activities, and chatting one-on-one with the maple syrup producers who make this sweet liquid gold. While at the sugarbush, visitors are encouraged to stock up on maple syrup for fall recipes.
In 2022 there will be more than 20 producers taking part in Fall in Love with Maple with participants from Algoma, Algonquin & District, Eastern Area, Lanark & District, Quinte & District, Simcoe & District, Southwestern Area and Waterloo-Wellington.
A list of participating maple syrup producers is available on the Ontario Maple website, along with further details about specials and activities. Visitors are invited to visit the website at www.ontariomaple.com/fall-in-love-with-maple for more information.
As the official voice of sugar makers in the province, OMSPA represents approximately 600 maple syrup producers from across the province, who are committed to producing a high-quality product for consumers to enjoy. Members are involved with a wide range of activities organized at the provincial level or through one of the 11 local chapters located across the maple producing areas of Ontario.


text:
Facebook founder and chief Mark Zuckerberg announced the launch of a new partnership of tech leaders, Internet.org, that aims to bring Internet access to the emerging world.
Dubbed as making Internet access for "the next 5 billion people," the partnership includes Facebook, Samsung, Nokia, Ericsson, MediaTek, Opera and Qualcomm, according to Facebook's announcement Tuesday.
"There are huge barriers in developing countries to connecting and joining the knowledge economy," Zuckerberg said in a prepared statement. "Internet.org brings together a global partnership that will work to overcome these challenges, including making internet access available to those who cannot currently afford it."
U.S. & World
News from around the country and around the globe
Zuckerberg means that only about 2.7 billion people have Internet access -- just about a third of the world's population. At growth of only 9 percent a year, it could take decades before reaching the majority of the developing world. Internet.org is hoping to speed up that process with joint projects, NGOs, academics and industry-wide initiatives. It will also focus on three key challenges: making access affordable; using data more efficiently; and helping business drive access.
The Internet.org website launched Tuesday and will feature the latest news about the partnership and its projects.
It's not surprising that tech companies are spearheading the initiative -- who would benefit more from the world having Internet access but tech companies? While being connected has its advantages, does having Internet access mean cleaner water, better education and less malnutrition? Unfortunately, no, but users in emerging countries will be able to use an iPhone.


text:
CHICAGO (WLS) -- A suburban church gifted families in need $100 Sam's Club gift cards only to find that they aren't working when they go to use them.
Pastor Steve Troglio is now holding onto the cards after getting complaints about other similar cards that couldn't be used.
"We gave them $13,000 of God's money, it's not my money it's church money, and they gave us 130 blank plastic cards," he said.
"These parents had no hope; no, they were given hope and that hope was taken away when they went to purchase things," said Alexis Rodriguez, youth minister at Firehouse Chapel.
Rodriguez is Troglio's daughter. She said they distributed 130 $100 Sam's Club gift card to suburban public school social workers for the social workers to give to families, but started getting calls last week that the cards didn't work.
"I was heartbroken, truly was heartbroken," she said.
"We don't know who these kids are, we don't know what religion they are because it doesn't matter," Troglio said. "We just know they are kids in needs therefore we want these kids to have a Christmas."
Troglio and Rodriguez said after repeated calls to Sam's Club, some of the cards are now working but not all of them.
Sam's Club issued a statement saying in part, "We sincerely apologize for the inconvenience we have caused. Due to an internal error, the gift cards were not activated when they were shipped.... we're in the process of making sure all the gift cards get activated appropriately."
"My patience is running thin for these children because they deserve to have Christmas," Rodriguez said. "They suffer enough during the year, it's not fair for them to have to go through this."
Pastor Troglio, his staff and congregation are hopeful the fixes are done in time for the holidays. Sam's Club issued a statement Monday night saying they have confirmed through their Member Services Team that all the gift cards are now activated and working.


text:
The “pingdemic” and raw materials shortages have hit UK economic growth, according to a flash PMI.
Growth in the IHS Markit/CIPS Flash Composite Purchasing Managers’ Index hit a fourth-month low in July due to staff and materials shortages.
Chris Williamson, chief business economist at IHS Markit, said: "July saw the UK economy’s recent growth spurt stifled by the rising wave of virus infections, which subdued customer demand, disrupted supply chains and caused widespread staff shortages, and also cast a darkening shadow over the outlook.
“Concerns over the Delta variant have meanwhile overshadowed the passing of ‘freedom day’, and were a key factor alongside Brexit and rising costs behind a sharp slide in business expectations for the year ahead, which slumped to the lowest since last October.”
Unilever said in its half-year results margins had fallen due to rising raw material, packaging, and distribution costs globally, and it was responding by raising prices in some markets.
Chief executive Alan Jope said palm oil prices were up 70%, soybean oil up 80%, crude oil up 60%, and ocean freight up 40-60%.
The PMI found optimism about the business outlook was the lowest for nine months.
Duncan Brock, group director at CIPS, said: "Acute material and staff shortages in certain sectors interrupted the rhythm of recovery in private sector business as signs of malaise crept in affecting output, new orders and business optimism.
“Firms’ costs rose at a rate unprecedented in over 20 years of survey history as supply shortages pushed up the price of goods, suppliers of services hiked prices and employee pay continued to rise."
Responding to the pingdemic, the government announced supermarket depot workers and key food manufacturers in England will be exempt from isolating rules because 20% of workers in food supply chains have been forced to self isolate.
Supermarkets had warned that staff shortages caused by the pingdemic would cause gaps on shelves if the government didn’t take action to maintain supplies.
Food supply chain workers contacted by the NHS Test and Trace app will be allowed to forgo isolation requirements as long as they test negative for coronavirus.
The move will apply to around 10,000 workers at 500 sites, including 170 distribution depots.
The plans will not include supermarket store workers.
ONS estimates suggest up to one in 75 people now have Covid-19, with over 800,000 people testing positive last week alone. This is up from one in 95 the previous week.
A record 618,903 people were told to self-isolate by the NHS Covid app between 8-15 July in England and Wales.
Environment secretary George Eustice told Sky News: “We've been working closely with the food industry, both the manufacturers and the retailers, over the last week or so. Monitoring the situation closely, looking at indices such as late deliveries to individual stores and absence levels.
"The industry had some concerns at the end of last week, but we've been keeping it under close review.
“We're never going to take risks with our food supply chain.”
☛ Want to stay up to date with the news? Sign up to our daily bulletin.


text:
The swing to smaller cars has been confirmed by a new batch of monthly sales figures.
Toyota's Corolla made headlines when it overtook both the Holden Commodore and Ford Falcon in October - for the first time - and figures for November have revealed that sales performance was no flash in the pan.
The Ford Falcon sedan outsold the Holden Commodore to be Australia's biggest-selling car in November - but Toyota's Corolla was a close third. Ford sold 4209 Falcons compared with Holden's 4071 Commodore sedans and Toyota sold 4002 Corollas.
According to sales figures from the Federal Chamber of Automotive Industries, small cars are driving the industry growth. There is an increase of 39,000 small and light cars sold to November this year compared with the first 11 months of 2004.
As a result, the Australian car market is heading for its fourth straight record year but it's unlikely to top the 1 million sales mark boldly predicted by the Federal Chamber of Automotive Industries a month ago.
"The market recovered from the drop in October to be in line with sales in November last year, which is good news but we expect sales for the year will fall a bit short of the 1 million mark," says FCAI chief executive Peter Sturrock. "If sales continue at this rate in December it will still be a strong year, with three and a half per cent growth but we could miss the million mark by about 10,000 or so."
A total of 83,538 new cars, trucks and buses were sold in November, down by 0.9 per cent on the record for the month set last year.
Mitsubishi, in its second month of sales of the new 380 model, has increased overall sales by 11 per cent in the first 11 months of this year compared to 2004. The 380 sedan, the rival to the Falcon and Commodore, posted 1650 sales, which was enough to overtake the Toyota Camry V6 (1027 sales).
Holden and Ford are copping a bit of a hammering on several fronts at the moment. Commodore and Falcon sales are down compared with the same month last year but the luxury models have also taken a hit.
The Chrysler 300C has outsold the traditional big luxury sedans; Holden sold 202 Statesmans and Ford sold 152 Fairlanes but Chrysler sold 216 300Cs, instantly making it the biggest-selling Chrysler in the local range. The 300C is also responsible for a 44 per cent sales surge by Chrysler - an eight-year high for the company.
In a rare turnaround, sales of recreational 4WDs fell by 6.6 per cent compared with last November but for the first 11 months of 2005 they're still running 3.7 per cent higher than last year. Sales of medium-sized and luxury 4WDs were up in October, while compact and large 4WDs were down.
Overall, Toyota is on course to once again claim top spot on the year's sales ladder. It was the top-selling brand in November, with 17,849 vehicles, leading Holden on 14,546 and Ford on 11,479. Its sales to November this year are 184,397 vehicles compared with 162,110 for Holden and 119,037 for Ford.


text:
Huawei, one of the world’s largest smartphone manufacturer announced the launch of the third annual HUAWEI NEXT-IMAGE Awards. Following the launch is the call for all visual creatives around the globe to submit their entries until July 31, 2019 to compete and become one of the NEXT-IMAGE finalists, whose work will be judged by a panel of world-class photographers, curators, and visual artists.
Huawei’s flagship smartphones are known for having one of the best cameras in its class. The brand will provide its users with a gallery where they can showcase their work to a global audience, and to date the Awards have seen over 550,000 entries from over 130 countries.
“Through developments in digital photography, HUAWEI has been striving to bring a new photographic experience to our global users through advanced image taking and by redefining the meaning of visual expression making,” said Li Changzhu, Vice President of Handsets Product Line of HUAWEI Consumer Business Group. “The HUAWEI NEXT-IMAGE Awards are helping us to reach this goal, and the number of submissions have doubled since their inception in 2017 with over half a million images having been provided. The Awards embody our commitment to providing high-quality tools that help make the work of a new generation of digital artists possible.”
There are six categories in this year’s 2019 HUAWEI NEXT-IMAGE AWARDS:
- ‘#Emotion Tag’ – expressing instant emotions by means of smartphone photography;
- ‘Going the Distance’ – discovering new places and experiences by using new features found in a phone camera, especially the zoom features;
- ‘Life Now’ – filming a story in less than 30 seconds.
There are three categories from 2018 that remained such as:
- ‘Faces’, and
One Grand Prize winner will win US$20,000, a HUAWEI P30 Pro, an opportunity to attend the NEXT IMAGE Awards ceremony at Paris Photo 2019, and a winner’s medal or certificate. Six best-in-category will also win in the said contest (each shall take home US$6,000, a Huawei P30 Pro, a medal or certificate, and an opportunity to attend the Awards ceremony), and an additional 50 runner-up prizes awaits to lucky winners and each will get a Huawei P30.
Lucky winners will be announced on September 9, and the 2019 HUAWEI NEXT-IMAGE Awards ceremony will happen at Paris Photo 2019 in November.
For more details regarding the said contest, visit https://gallery.consumer.huawei.com


text:
UK: Primark plots expansion after Q1 sales hike
Value clothing retailer Primark is planning to expand its store base further after recording sales up 14% in its first quarter.
The company, owned by Associated British Foods (ABF), was the highlight of a period in which group revenues were flat, and up 1% at constant currency rates.
Primark sales rose 12% at constant currency rates, but benefited from the weaker pound to post a 14% reported increase for the 16 weeks to 4 January.
ABF said the growth was driven by an 8% increase in selling space, as well as strong like-for-like growth and higher sales densities from new stores.
“Although like-for-like sales in the first eight weeks were held back by the unseasonably warm weather and the strong comparatives in the previous year, the second half of the period was characterised by excellent Christmas trading with very strong like-for-like growth,” the company added.
Operating margins were up, reflecting buoyant Christmas trading, and were better than expected.
Primark opened 14 new stores in the period, including its first in France, and plans to open another four outlets in France during the current financial year, alongside two in Germany and three in the UK.
ABF said Primark profits were expected to be “well ahead” of last year.
In a note, Panmure Gordon analysts Graham Jones and Damian McNeela highlighted Primark’s “fantastic looking” Christmas trading performance, with estimated like-for-like sales up 8%.
Anusha Couttigane, senior consultant at Conlumino, said: “Primark’s escalating store numbers and growing consumer reach in key economies, both here and on the continent, are making it an increasingly convenient and attractive place to shop.”
After a highly proactive start to 2013 with four new outlet openings, Primark spent the second half of 2013 consolidating on its strong position in apparel and footwear specialist retailers. The compa...
Primark in the UK remains its most important market, accounting for over 70% of the company’s overall sales. Primark has established itself as one of the fastest-growing value retailers, offering a wi...
The launch of Victoria’s Secret in London’s Westfield and New Bond Street locations positively impacted underwear, nightwear and swimwear. Considering recessionary cuts on spending, underwear and nigh...
More than 200 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people in ...
As the mind-set of the recession continues, women’s outerwear is responding by heavily promoting good value, with brands such as Primark, F&F, George, New Look, H&M and Sainsbury’s women’s Tu range, a...
- M&S project benefits garment worker health
- Leveraging the business benefits of 3D design
- M&S to launch supply chain human rights policy
- Birnbaum bites back: Open costings - yes or no?
- Bangladesh woos buyers with sustainable production
- Myanmar makers mull shut-downs over wage plans
- American Apparel to close stores and cut jobs
- Cotton tracing "biggest challenge" for M&S
- Chinese shoe factory collapse kills 12
- Lee ReThink taps into sustainable supply chain


text:
Send this profile to a friend
American Medical Systems, Inc.
News from The Business Journals
Aug 24, 2012, 6:00 am EDT
A California jury verdict may have put a preliminary price tag on hundreds of lawsuits filed against a Minnesota manufacturer of pelvic mesh implants,…
Aug 10, 2012, 6:00 am EDT
The venture capital arms of large companies have been playing a larger role in the overall venture investing scene lately, and recently released data shows…
May 7, 2012, 7:08 am EDT
The pile of lawsuits is growing against Natick-based Boston Scientific and rival manufacturers over vaginal mesh inserts that were used to help with incontinence…
Apr 6, 2012, 6:00 am EDT
Innovation costs money. And last year, many Minnesota public companies were willing to pay more for it.
The businesses on this year’s Top 25 List of…
Apr 3, 2012, 2:45 pm EDT
CEO Doug Kohrs, CEO of medical device maker Tornier, has been appointed to the board of Proto Labs Inc.
Maple Plain-based Proto Labs (NYSE: PRLB) said…
Mar 21, 2012, 10:19 am EDT
A record 1,022 people turned out for Pennsylvania Bio’s 2012 annual dinner and awards celebration Tuesday night at the Pennsylvania Convention Center.
Feb 17, 2012, 6:00 am EST
It took two years to dig the hole, and two years to climb back out. In 2011, mergers-and-acquisitions activity in Minnesota finally made it back to the…
Jan 13, 2012, 6:00 am EST
Tim Cook’s battle to get his firm’s medical technology approved for sale in the United States is once again in regulatory authorities’ court.
Jan 6, 2012, 6:00 am EST
Iridex Corp., a Mountain View company that makes laser-based medical devices, is getting out of the cosmetic procedure business.
The company said on Jan.…
Dec 30, 2011, 6:00 am EST
Select Comfort Corp., the Plymouth maker of the Sleep Number adjustable bed, has been the best Minnesota stock to own this year, by far.
Dec 2, 2011, 6:00 am EST
When Minnesota launched a multimillion-dollar effort to foster a homegrown biotech industry, a giant health insurer wasn’t the sort of company policy…
Dec 1, 2011, 2:19 pm EST
A venture-capital firm that invests in “neurodevices” has opened a Twin Cities office, which will be led by med-tech industry veteran Mark Stultz.
Aug 12, 2011, 6:00 am EDT
Endo Pharmaceuticals Inc. is seeking to expand along the Route 202 Corridor. The company is in the market for more than 350,000 square feet so it can relocate…
Jul 29, 2011, 11:13 am EDT
Big changes could be in store for Minnesota's med-tech companies, if recommendations from a federally commissioned study released Friday are adopted.
Jun 27, 2011, 8:23 am EDT
Small public offerings (less than $50 million) were a big part of the investment scene in the early 1990s, but they've largely disappeared. A bill in Congress…


text:
READY TO WEAR
DESIGNER: Stuart Vevers INSPIRATION: American classics and the exploration of the tension between utility and luxury; the backdrop of the presentation was a color-saturated late 1970s suburban scene from Joel Sternfeld's book of [...]
Monique Lhullier is launching its very first ready to wear advertising campaign! This is the latest step in building up the design house—probably to remind customers they offer more than just bridal, but ready to wear as well. “We [...]
While you shouldn’t expect this shopping event to follow in the footsteps of his recent free for all, we still stand by the fact that any event involving Alexander Wang and his chic designs is a don’t-miss. August 20th, the [...]
Style Scoop: Nina Garcia Named Creative Director at 'Marie Claire,' Hedi Slimane's Menswear at YSL, Versace for Lady Gaga Tour?
Nina Garcia just received a promotions at Marie Claire. The magazine's former fashion director will now answer to the call of creative director. Garcia, who became more visible following her role as a judge on Heidi Klum's Project Runway, [...]
DKNY is putting a vibrant spring in your step next season with help from Bensimon. The tennis shoes and canvas totes feature four different color schemes, including turquoise, black, red-orange, and a DKNY-logo print with colors and [...]
PRABAL GURUNG FOR ALL! Gurung has only recently dipped his toe in the collaboration pool as part of the upcoming Target and Neiman Marcus Holiday collection, but now he’s taking a deeper dive with Target. The retailer partnered with the [...]


text:
BRIDGEWATER, N.J.--(BUSINESS WIRE)--Synchronoss Technologies, Inc. (NASDAQ: SNCR), the mobile innovation leader that provides cloud solutions and software-based activation for mobile carriers, retailers and OEMs around the world, today announced that it will host an Analyst and Investor Meeting at the Company’s headquarters in Bridgewater, New Jersey on Wednesday, March 11, 2015.
The Synchronoss Technologies Analyst and Investor Meeting is scheduled to begin at 10:00 a.m. (ET) and will conclude at approximately 2:00 p.m. (ET). Among those presenting at the event are Stephen Waldis, Founder, Chairman and Chief Executive Officer; Robert Garcia, President and Chief Operating Officer; Karen Rosenberger, Chief Financial Officer, Executive Vice President and Treasurer; Chris Halbard, Executive Vice President and President of International; and Ted Woodberry, Vice President of Product Management and Corporate Marketing.
The presentation will include a discussion around the Company’s key corporate strategies, an overview of its product offerings and the addressable market opportunity, and a review of its financial and operational performance.
The event will be webcast live and available for a limited time on the “Investor Relations” page of the Company’s website, www.synchronoss.com.
About Synchronoss Technologies, Inc.
Synchronoss Technologies, Inc. (NASDAQ:SNCR), is the mobile innovation leader that provides cloud solutions and software-based activation for connected devices across the globe. The company’s proven and scalable technology solutions allow customers to connect, synchronize and activate connected devices and services that empower enterprises and consumers to live in a connected world. For more information visit us at: www.synchronoss.com
The Synchronoss logo, Synchronoss, and Synchronoss Personal Cloud are trademarks of Synchronoss Technologies, Inc. All other trademarks are property of their respective owners.


text:
CME to offer weekly FX options from 5 December
Derivatives exchange CME Group will launch weekly foreign exchange options contracts that expire on Tuesdays and Thursdays from next month, allowing traders to hedge volatility around specific market events, reports Risk.net.
The new contracts – for G5 currencies – will be available on both CME’s electronic central limit order book (Clob) and off screen via bilateral block trades, from 5 December. The move expands the exchange’s existing weekly FX options contracts that expire every Monday, Wednesday and Friday, giving traders the flexibility. CME hopes to capture massive demand from the sector, the report adds
The launch further extends CME’s portfolio of products and services. At the end of October the exchange added trading in a new suite of overnight index futures based on the Euro Short-Term Rate (€STR).
€STR futures provide an efficient way to hedge European money market rates, with contracts including €STR 3-month futures and €STR 3-month single contract basis spread futures, complemented with €STR vs Secured Overnight Financing Rate (SOFR) inter-commodity spreads. These contracts enable granular price discovery across the forward curve, Interbank Offered Rate (IBOR)/Overnight Index Swap (OIS) basis trading, as well as managing cross-country basis spreads and price differentials between the EU and US interest rates.
CME Group’s Volatility Indexes (CVOL) offer a view on volatility across treasuries, currencies and commodities and reflect the fact that there is no longer a “one-size-fits-all” volatility measure, which has been increasingly apparent in the extreme market circumstances of the past two years.
CVOL indexes in treasuries, grains and crude oil have reflected sudden market changes from events such as the Federal Reserve’s recent policy to contain inflation, the war in Ukraine and Covid-19 lockdowns in China.
Traders have welcomed CVOL as a valuable tool for gauging varying degrees of volatility across different markets and asset classes, such as energy and treasuries.
In early August 2022 the indices began streaming in real time via CME Direct and on the CME Group website – delayed 15 minutes. This allows traders to measure market expectations and also track market responses to certain pivotal events as they occur, including Federal Open Market Committee (FOMC) meetings, Consumer Price Index (CPI) data releases, Organisation of the Petroleum Exporting Countries (OPEC) meetings, World Agricultural Supply and demand Estimates (WASDE) reports and other market-moving events.
UK and South Africa launch joint infrastructure partnership
The UK and South Africa will join forces to “turbocharge infrastructure investment and economic growth together”, says British prime minister Rishi Sunak.
The next phase of the UK-South Africa Infrastructure Partnership is launched today to coincide with a two-day state visit to the UK by South Africa’s president Cyril Ramaphosa. It will support South Africa’s economic growth through major infrastructure developments and offering increased access to UK companies to projects worth up to £5.37 billion (US$6.38 billion) over the next three years, said an announcement by the UK government.
Mr Sunak said: “South Africa is already the UK’s biggest trading partner on the continent, and we have ambitious plans to turbocharge infrastructure investment and economic growth together.
“I look forward to welcoming President Ramaphosa to London this week to discuss how we can deepen the partnership between our two great nations and capitalise on shared opportunities, from trade and tourism and security and defence.”
A separate government statement announced: “The UK government will also confirm new grant-funded technical assistance to South Africa to help unlock green hydrogen opportunities and boost skills in this key sector.
“As an example of the opportunities for UK businesses, Globeleq - a UK company that is majority owned by British International Investment – is today announcing they have reached legal close on six solar power projects, with construction expected to kick off in South Africa next year.”
South Africa is the continent's second largest economy and is already the UK's biggest trading partner in Africa, with trade worth £10.7 billion annually. Unlocking export finance offers significant opportunities for British businesses to invest and trade.
Cellnex says inflation has closed European phone masts market
Europe’s mobile phone towers market is “pretty much closed” as rising inflation takes hold across the region according to Tobias Martinez Gimeno, chief executive officer at the Spain-based operator Cellnex.
Gimeno told the Financial Times that resurgent inflation makes it harder for companies to finance new deals while simultaneously the availability of assets declines. There have been several tower deals taking place in Europe in recent months, but this is slowly coming to an end according to the CEO. “M&A activity is over. Material, inorganic growth for the next 24 months is over,” he said.
Earlier this month Cellnex said that its near-term priority is to improve its credit rating to investment grade from agency Standard & Poor’s (S&P), which will adopting a “more conservative financial risk profile rather than seek further expansion. In October the company agreed to sell 1,100 sites in the UK to Wireless Infrastructure Group (WIG) as part of its plans to buy 6,000 passive infrastructure sites from CK Hutchinson for US$4 billion.
Despite the impact of inflation, Cellnex revealed earlier this year that it had hoped to own around 137,000 towers by 2030, but Gimeno told the FT that further deals are not on the company’s agenda. “Cellnex will focus its attention on reducing debt and limiting capital expenditure, among other things,” Gimeno added.
The change of policy was evident in July, when Cellnex dropped out of the bidding for Deutsche Telekom’s towers unit, which went to Brookfield Asset Management and DigitalBridge Group. The company already owns towers with Deutsche Telekom in Switzerland, the Netherlands and Germany and claims to own around 53,000 tower sites across Europe.
India lines up retail CBDC pilot
India’s central bank will follow its recent launch of a pilot wholesale central bank digital currency (CBDC) – reported by Industry Updates on 1 November – with a retail version next month
The Economic Times of India (ETI) reported last weekend that the Reserve Bank of India (RBI) is finalising the rollout of the retail digital rupee pilot. The RBI launched the wholesale central CBDC pilot on 1 November to test its usage in settling transactions in government securities and said that the retail digital rupee pilot would be launched within a month.
According to the ETI report, the digital rupee is meant to complement, rather than replace, existing payment methods. Additionally, the report noted that the retail CBDC had been designed to be interoperable with current payment systems, citing insider sources familiar.
The report noted that the CBDC platform will be hosted by the National Payments Corporation of India (NPCI) and will be similar to the NPCI’s unified payments interface (UPI) system.
UPI has become a popular payment method in India, enabling users to instantly transfer funds directly to and from bank accounts through a UPI address. The UPI addresses, similar to email addresses, are linked to the bank accounts.
An anonymous source with knowledge of the project told ETI: “Just like we have a common library for UPI, the technology for CBDC is similar to that and it is being hosted by NPCI, it will be interoperable with the current payment platforms.
“The e-rupee will be stored in a wallet, the denominations will be available as per the customer’s request, just like you request cash from an ATM. Banks are launching this only in select cities.”
Banks participating in the retail CBDC pilot include State Bank of India, Bank of Baroda, ICICI Bank, Union Bank of India, HDFC Bank, Kotak Mahindra Bank, Yes Bank, and IDFC First Bank. The RBI wants each bank participant to test the retail CBDC among 10,000 to 50,000 users, per the ETI report, which adds that the CBDC project will eventually be extended to the entire banking system.
Banks participating in the CBDC trial have partnered with last-mile payment service providers, including PayNearby and Bankit, to enable users to pay merchants with the digital rupee.
The retail CBDC will be provided as a standalone product in the initial phase. However, the digital rupee will eventually be integrated with existing mobile and internet banking services.
Merchants and customers selected to participate in the pilot will be asked to download a wallet application, which will be used to store the e-rupee, as per the report. Users will also need to request specific denominations of the e-rupee from their banks, which will be transferred to their CBDC wallet.
Fintech Stenn aims to close SME trade finance gap
Stenn, a start-up fintech that says it is “democratising access” to capital for SMEs internationally, has been extensively profiled in the Financial Times.
The business daily notes that the need for trade finance remains pressing. According to the World Bank, the gap in international trade credit amounts to US$3 trillion and is widening. A. report by consultants Accenture, commissioned by Stenn, estimates the demand for trade finance will increase to US$6.1 trillion in the next four years.
But the provision of finance to smaller businesses is lagging; a problem exacerbated by the 2008 global financial crisis when large banks pulled back from lending more broadly.
Stenn says is working to address this issue. It aims to connect small and medium-sized businesses around the world to developed capital markets. Through its proprietary technology, Stenn can process applications for trade finance in only 48 hours, in more than 70 countries.
The company, set up by Greg Karpovsky in 2015, is backed by large global financial institutions, including HSBC and Barclays, but focuses on businesses in need of financing and trade credit protection in the range of US$10,000 to US$10 million. To date, Stenn has facilitated around US$10 billion of financing in total, the FT reports.
While it provides a range of financing options, Stenn’s bread and butter is invoice finance: advancing payments to suppliers immediately and collecting from their customers later, in return for a fee. Its service enables suppliers to be paid as soon as their goods are shipped, while allowing the buyers to receive their products and generate revenue from them before they need to settle the bill.
Without invoice finance, suppliers could end up waiting months for payment when they export goods to buyers overseas, which can harm their cash flow and growth.
In return, Stenn takes a fee from the supplier of between 0.65% and 4% of the invoice value and also takes on the risk of a buyer defaulting.
Karpovsky has ambitious growth targets for Stenn. “We will plan new equity rounds, but we’re in a very good position at the moment. We’re profitable, which is almost unique for a young tech company,” he says. “We are planning to grow about 30 times in the next four-five years.”
Finzly launches a treasury management super app
US software company Finzly has launched a treasury management super app that it says can manage accounts, payments, and global treasury needs of business customers.
The Finzly Experience Hub was designed to embed directly into banks’ existing digital platforms in order to provide global transaction banking to business, commercial, and corporate clients. This new treasure management super app is an alternative to conventional one-size-fits-all business banking platforms that drive users to toggle between different spreadsheets, cash, and treasury management solutions from multiple providers.
To address this issue, the Experience Hub embeds several business banking apps within one super app platform. This allows banks to curate banking services according to the needs of individual businesses. The solution offers small- to medium-sized businesses (SMBs), commercial and corporate customers the opportunity to manage all their accounts, payments, beneficiaries, and authorisations through a self-service portal.
Using this system, business customers can initiate domestic (ACH, Fedwire, RTP & FedNow) and international payments with real-time email notifications to approvers, manage users and their privileges, as well as manage bulk payments. The super app also incorporates fraud prevention features such as Positive Pay. FX trading is supported, enabling clients to buy and sell currency and use multi-currency accounts to manage their global treasury.
Morgan Stanley launches environment-focused PE platform
Morgan Stanley Investment Management (MSIM) is launching the 1GT growth-oriented private equity (PE) platform focused on companies aiming to mitigate climate change.
The platform will focus on companies that cooperatively “avoid or remove” one gigaton of Carbon dioxide-equivalent emissions from the earth’s atmosphere by 2050 to help achieve Net Zero targets.
1GT is a part of MIMS’s US$200 billion alternative investments business targeting companies mainly based in North America and Europe, the investment firm said.
Vikram Raju, MSIM’s head of climate investing and the 1GT Platform, said: “As COP27 concludes, it is clear now more than ever that we need to radically alter the traditional model of private equity impact investing in three ways.”
He outlined these as firstly the need to accomplish climate goals that are “tangible” rather than “anecdotal and ambitious rather than tangential”.
Secondly, to assist significant improvement in climate solutions, a substantial proportion of financial incentives should be linked to such environmental objectives. Thirdly, the measurement of climate goals should be “transparent to limited partners”.
1Gt will target investments in private companies that provide “measurable positive environmental impact across the mobility, power, sustainable food and agriculture, and circular economy themes”.
Anti- Money Laundering “will be US$7.7 billion market by 2030”
A new report issued by Polaris Market Research analyses the anti-money laundering (AML) market share, size, and predicted trends over the 2020s.
Polaris expects the AML market size to reach US$7.7 billion by 2030. In 2021, the global anti-money laundering market was valued at US$2.10 billion, and the report suggests that it will grow at a compound annual growth rate (CAGR) of 15.5% during the forecast period.
One of the main factors fuelling this growth is the global increase in money laundering cases, which is influenced by the rising use of virtual currencies and the increasing accessibility of the internet.
As companies face regulatory punishments and even brand damage from non-compliance with AML rules, the market stands to expand even further. However, two factors that could impede its growth are represented by the lack of highly knowledgeable AML specialists and the lack of awareness of governmental requirements.
Like this item? Get our Weekly Update newsletter. Subscribe today


text:
You are here
Tesco puts pressure on rivals with price cuts, improved customer service
FOUR months into the job, Tesco boss Dave Lewis has wasted no time imposing a range of price cuts and customer service improvements designed to regain the initiative in a tough market. There are already signs that customers are noticing.
Despite the series of shocks Tesco
CALL +65 6388 3838 EMAIL email@example.com


text:
Hydro held a groundbreaking ceremony, marking the start of construction of a €40 million expansion of its aluminum recycling plant in Rackwitz, Germany. The expansion will enable the plant to increase production of HyForge forging stock, while also increasing the use of post-consumer, end of life scrap.
“With more automotive customers putting emphasis on sustainability, we are taking this break-through step at Rackwitz to produce aluminum HyForge products, resulting in even smaller diameter billets, while ensuring a best-in-class climate footprint through using a high share of post-consumer scrap in the process,” said Eivind Kallevik, executive vice president Hydro Aluminium Metal. “The business case shows that it is not only profitable, but it also has an important sustainability dimension, and it brings us closer to reaching our ambitious recycling targets.”
With the automotive industry putting emphasis on light-weighting and sustainability for several decades, there has been continuous growth in the use of aluminum. This is due to the material’s light weight, excellent mechanical properties, corrosion resistance, and processing possibilities. Aluminum plays a significant role in the lightweighting of electric and hybrid vehicles, as cars need less electricity and fewer or smaller batteries to travel the same distances.
Closed die forging represents one of the many sectors seeing an increased use of aluminum for vehicle components, such as wheel suspensions. Forging stock generally has a smaller diameter than traditional aluminum billet, and requires a superior surface quality. Because of this, producing forging stock is generally a multi-step process, which involves casting the aluminum billet and then scalping the billet to remove inverse segregation zone.
Hydro has simplified this process with the new low pressure casting (LPC) technology, which can produce high-quality forging stock in a single step. This HyForge ingot may be forged directly into high-quality automotive components.
The Rackwitz recycling plant currently produces around 95,000 tonnes of extrusion ingot per year. With the expansion, the facility will be able to produce an additional 25,000 tonnes of ingot per year, which will be in the form of HyForge ingot. The expansion will also increase the recycling of post-consumer scrap as a major raw material for new products in the plant. It will also add 20 new employees.
“We have a strong collaboration and partnership with the automotive industry, and with the introduction of HyForge, our position as a preferred partner will only get stronger,” said Thomas Stuerzebecher, managing director, Hydro Aluminium Metal Rackwitz. “Our Rackwitz plant is located close to Hydro’s key automotive customers and scrap sources. Together with the HyForge product this is an ideal fit when it comes to the high-quality standards and rapidly increasing focus on sustainability in the automotive industry.”
The new facility is expected to be operational by end of first quarter 2023.