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Task before the next Govt: Boost investment driven growth
Both the World Bank and the International Monetary Fund (IMF) have revised their growth projections downwards for India in 2019-20. While the World Bank’s forecast for India’s GDP growth is 7.5 per cent, the IMF’s forecast is a notch lower at 7.3 per cent. The World Bank has pointed out that India’s slow export growth in the past five years has been due to its GDP growth being “too much” driven by domestic demand. Hence its advice for the next government is to focus on export led growth.
The IMF, on the other hand, in its World Economic Outlook released recently has raised the fear of a slowdown in global output growth. Instead of growing at 3.5 per cent as the previous forecast, it is now expected that world output will grow at 3.3 per cent this year. Also, because of the prevailing less favourable climate for world trade today following the big trade dispute between the United States and China, the World Trade Organisation’s (WTO) forecast for world trade growth is lower at 3.7 percent in 2019, instead of 3.9 per cent in 2018.
Slower trade growth has had repercussions not only on the GDP growth of China but on China’s trade partners like India. India’s export growth has not received a big impetus in the last five years while it has been flat in the last one year. Exports grew at 2.44 per cent in February 2019, but it has picked up suddenly in March, to 9 per cent. Nevertheless, India seems to be losing its competitiveness even in labour-intensive goods like garments and light manufactures to countries like Vietnam and Bangladesh.
Slower trade growth has had repercussions not only on the GDP growth of China but on China’s trade partners like India. India’s export growth has not received a big impetus in the last five years while it has been flat in the last one year
The World Bank’s Chief Economist for the South Asian Region, Hans Timmer, has pointed out that it is the strong domestic demand in India which has resulted in the double-digit growth of imports which has led to the widening of the current account deficit. He said that the next government’s focus should be on reducing the stimulus for domestic demand. It should also undertake trade liberalisation on the import side which would create more competition. Export-led growth, according to the World Bank, would lead to increase in productivity. India has been only exporting 10 per cent of its GDP whereas even 30 per cent would be normal.
Today, however, India is facing a slowdown in industrial and manufacturing growth because of the shrinking demand. Various industries from automobiles, scooters and consumer durable goods are facing a decline in demand on the back of continued agricultural distress and slow rise in consumption power which is due to lack of adequate investment in the agricultural sector. Many of the current problems in agriculture relate to poor infrastructure, especially storage and marketing facilities in villages. Improvement in roads, transportation and marketing infrastructure will help farmers realise better prices for their produce and reduce their stress.
The manufacturing sector also needs huge investments in modernisation and innovations of industry as well as physical infrastructure. Thus, the main task before the new government will be to revive industries through higher rate of investment. In March this year, industrial growth has sunk to 20 month low of 0.1 per cent growth. The slowdown in investment is evident in the slow growth of the capital goods industries, which has registered contraction of 8.8 percent in February this year. All these are the symptoms of a deep malaise of an economic slowdown, which is not visible in the GDP figures that are still impressive. India still maintains the tag of one of the fastest growing economies in the world, mainly due to its services sector’s uptick. But with world output growth slowing down, it may be difficult to sustain the momentum.
Reviving export growth is important for boosting industrial growth. But the old export-led growth model of the 1970s is no longer feasible in the world now ridden with widespread protectionism. When the East Asian Tigers experienced rapid export-led growth, the world trade environment was different and China was not such a giant manufacturing hub of the world. Today, many countries, including India, have turned protectionist against the import surge, mainly coming from China.
Reviving export growth is important for boosting industrial growth. But the old export-led growth model of the 1970s is no longer feasible in the world now ridden with widespread protectionism
The World Bank often quotes China’s example of rapid export-led growth. But now China has retracted from such a strategy when it realised the danger of becoming too dependent on the demand coming from the advanced countries. During the 2008 global financial crisis, it faced a slowdown in demand and it gave $586 billion stimulus to revive its economy. China is now trying to rebalance its economy by focusing more on boosting consumer driven economic growth rather than investment driven infrastructure growth which facilitated export growth. China is offering a stimulus package to revive growth through consumer demand which amounts to 5 per cent of the GDP.
India, on the other hand, has to go for investment driven infrastructural upgradation of roads, ports, airports, canals, railways and power which would help in resuscitating our MSME industries, which contribute 40 per cent to India’s exports. Also, India has to fight against non tariff barriers if exports are to take off in a big way. Exporters have been vulnerable to growing number of non tariff barriers in EU and the US. Huge consignments are often rejected on grounds of hygiene and phyto-sanitary measures which have caused ruin to many of our agro and marine based export industries. India has to focus on better quality education and skill development to step up export growth.
Competition should be encouraged but India has to protect itself from unfair dumping of cheap manufactures and agricultural goods from abroad. Protection through higher tariffs has helped the Indian electronics industries in recent times and India continues to protect its agricultural sector quite justifiably.
Financing of exports is a major stumbling block because the Chinese have recently announced a special bank financing facility for the private sector. Indian banks are burdened with huge amounts of NPAs and the banking sector is reeling under its burden. Unless banks, especially the EXIM bank, are adequately recapitalised, the problem of easier terms of export credit will remain a big hurdle to higher export and manufacturing growth.


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EAST LANSING, Mich. — The electric scooter companies, Gotcha and Lime, have obtained full licenses from the East Lansing City Clerk’s office and are expected to deploy electric scooters in the East Lansing community next week.
East Lansing’s electric scooter licensing process is a part of the City’s new scooter ordinance, which was approved by the East Lansing City Council in March 2019.
Under this new ordinance, electric scooter companies and users must adhere to several rules and regulations. Here are some highlights of the ordinance as well as some state regulations to keep in mind:
In downtown East Lansing, electric scooter companies are required to deploy their scooters at areas approved by the City (known as scooter hubs). An initial 10 hubs have been approved and it is expected that additional locations will be considered in the future. Outside of the downtown, scooter companies can deploy at any location that is in accordance with the City’s new scooter ordinance.
Scooter companies deploying outside of the downtown and all electric scooter users must park scooters upright with at least five feet of unobstructed sidewalk for pedestrians. If parking on a street, vehicle and bike lanes must be unobstructed. Additionally, scooters may not be parked in a way that interferes with access to the following: crosswalks or sidewalk ramps; bus stops, shelters or waiting areas; loading zones or parking spaces for individuals with disabilities; fire hydrants; benches; parking meters or pay stations; commercial window displays; access to or from any buildings; any bicycle racks; streets, driveways or alleys; roadway travel lanes; and bike lanes. Scooters also may not be parked at metered vehicular parking spaces located on the street or within City parking garages and surface lots.
When riding electric scooters, no more than one person can ride at a time and they cannot be driven at more than 10 miles per hour on sidewalks in East Lansing. Users should also keep the following in mind:
- Do not operate scooters while intoxicated.
- Wear a helmet (individuals under the age of 19 are required to wear a helmet per the Michigan Vehicle Code).
- Be respectful of pedestrians; slow down and use audible signals when passing.
- Follow all traffic laws, including street signs and stop signs.
- Use caution at crosswalks.
Community members can report safety concerns, make complaints and/or ask questions by contacting the East Lansing Police Department’s 24-hour non-emergency line at (517) 351-4220, Option 1. Gotcha and Lime also have 24-hour customer service numbers that community members can call: 1-844-754-7174 (Gotcha) and 1-888-LIME-345 (Lime).
Community members can find additional information at www.cityofeastlansing.com/escooters.

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NEW DELHI: Prime Minister Narendra Modi
on Thursday stressed on the need for automobile industry's innovation for green alternatives to ensure protection and conservation of environment as well as help in making India self-reliant.
In a written address at the annual session of the Society of Indian Automobile Manufacturers (Siam), Modi said, "Amrit Kaal is an opportunity to achieve self-sufficiency in every sector and the automobile sector is no exception."
The automobile sector has contributed to economic growth through new avenues for employment generation, the PM said in his message that was read out by the outgoing Siam president Kenichi Ayukawa.
"It is a need of the hour that the automobile industry's innovation for greener alternatives attains a new momentum, to ensure the protection and conservation of environment, as well as help in making India self-reliant," Modi said.
He also expressed hope that the industry would look at developing a futuristic blueprint for the automobile sector. The Prime Minister also congratulated the auto industry on becoming the fourth largest in terms of vehicle manufacturing and lauded its achievement of record exports. "These accomplishments that came despite the pandemic have played a key role in India's economic resurgence," he added.


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The Alliance of Automotive Service Providers, Minnesota (AASP-MN) recently raised more than $7,000 in its 2013 fundraising campaign to support the AASP-MN Automotive Education Fund.
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The majority of that money was raised at the Association’s annual Race for Automotive Education, held Jan. 15 and 16 at ProKart Indoors, Burnsville, and will fund scholarships for automotive students enrolled in NATEF-certified mechanical and collision repair programs in Minnesota.
During the course of the two-night event, 105 racers tore up the track in state-of-the-art European karts, reaching speeds of nearly 40 miles per hour. Many fans and spectators were also on hand to cheer their teams on. Twenty-one teams of mechanical and collision repair shops and industry suppliers were represented.
Trophies were awarded to the first place and runner-up teams. The victors were:
First Place – Wenzel Auto Electric, Mankato
Runner Up – Lake Marion Collision, Lakeville
First Place – Factory Motor Parts, Eagan
Runner Up –ABRA Auto Body, Brooklyn Center
“Members use this event as an opportunity for team-building, and at the same time raise money for a very worthy cause,” said Judell Anderson, AASP-MN Executive Director. “Everybody had a blast!”
The Automotive Education Fund was established in 2002 to provide financial resources to support automotive students, enhance automotive programs and raise awareness of career opportunities in the automotive service industry. Since its inception, nearly $129,000 has been distributed directly to students enrolled in automotive programs through the Association’s scholarship program and Skills USA participation.
Alliance of Automotive Service Providers of Minnesota (AASP-MN) is an association of independently-owned automotive service businesses and industry suppliers dedicated to improving the state’s automotive service industry and the success of its members.
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Beauty And Wellbeing Salon Turns 15
Concepts Beauty & Wellbeing is celebrating 15 years of trading with its most successful year to date, after growing turnover by more than 30% in the past 12 months.
The salon, based in Lindley, Huddersfield, first opened its doors in October 2002. With just three members of staff, it is now marking its 15th year in the business by taking on its 15th employee.
To mark the 15 year anniversary, Concepts Beauty & Wellbeing will be hosting two in-salon celebratory events for customers and friends. The event will include offers on treatments and products, demonstrations from Guinot and ESPA, and the launch of the salon's Christmas gifts.
“I'm very proud of the team and all that we have achieved,” says Sharon Seymour, founder of Concepts Beauty & Wellbeing. “Over the next 15 years, I plan to build on what the salon has already achieved and continue to grow the business to take it up to capacity in the current premises.”


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On Monday, the online food delivery application announced that it has expanded in 100 cities in India, which hits the 300 city mark for the company.
Some of the new cities that will be getting the services of the online food delivery app are Shimla, Ayodhya, Bhuj, Junagadh, Begusarai, and Junagadh.
Mohit Gupta, the CEO of Zomato, said, “There are 40 cities in India with a population of over a million and over 380 cities in India with a population of over 100,000. When you fundamentally move beyond the 40 cities to the 380, you are truly representing India… As we expand, we are also focusing on improving our average delivery time, which now stands at 30.5 minutes.”
The CEO also said that the company had the best growth in Punjab and Andhra Pradesh.
As of now, the application provides 45-50 restaurant options in every city they are offering their services in, the company says this will increase in the upcoming months.
Zomato was founded in 2008 and is now serving food to over 70 million people every month.
They are tied with 1.4 million restaurants in 24 countries.


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Food products labelled with sunflower oil may instead contain rapeseed oil as the war in Ukraine affects supplies.
Some manufacturers have had to urgently replace sunflower with refined rapeseed oil before being able to make the change on the label, the Food Standards Agency (FSA) and Food Standards Scotland (FSS) said.
WalesOnline reports the majority of the UK’s sunflower oil comes from Ukraine and food businesses in the UK are reporting that supplies are likely to run out in a few weeks, with some businesses already experiencing severe difficulties. The agencies have added the food safety risk of substituting sunflower oil with refined rapeseed oil was “very low” and manufacturers are switching the oils to maintain the supply of certain food products containing ingredients that have become increasingly difficult to source.
The FSA and FSS said they were therefore advising that food products labelled as containing sunflower oil may instead have been produced using refined rapeseed oil and consumers should look out for additional information being provided by retailers and manufacturers to stay informed.
FSA chief executive Emily Miles said: “FSA and FSS have been working hard to understand the recent pressures on our food supply chain and the interim measures needed to make sure certain foods – like crisps, breaded fish, frozen vegetables and chips – remain on sale here. We have looked at the immediate food safety risk of substituting sunflower oil with refined rapeseed oil – particularly to people with a food allergy – and it is very low.
“We know allergic reactions to rapeseed oil are very rare and – if they do occur – are mild. Retaining consumer trust remains an absolute priority for both organisations and we are urgently working with the food industry and other partners to ensure labels on food where sunflower oil has been replaced by refined rapeseed oil are made accurate as soon as possible.”
British Retail Consortium deputy director of food Andrea Martinez-Inchausti said: “The war in Ukraine has disrupted supplies of sunflower oil to the UK. Where sunflower oil exists as an ingredient in products, retailers will be substituting it with other safe oils, such as rapeseed oil.
“Retailers are looking to change product labels as soon as possible; where sunflower oil is a key ingredient, such as crisps, retailers will imprint information on substitute oil onto existing labels.
“Retailers’ customer services will be answering questions on all their own brand products.”


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There's no doubt that the mobile market has been growing rapidly over the past few years. Apple has sold over 315 Million iOS devices up until now, while Google claims more than 250 Million Android devices have already sold, and the numbers are increasing at a rapid pace.
Advertisers now have more reasons than ever to begin using the mobile advertising space. It offers an array of options including SMS, WAP, mobile app display ads, search ads, rich media, video and push notifications. Nearly 30% of the American population own smartphones and use them, which is four times more than PC's, this is one of the main reasons advertisers are beginning to drift from traditional advertising to mobile advertising.
It took radio 38 years to reach 50 Million users, while it took the iPhone 2 only 2 years to reach that figure. In 2011 around $1 Billion was spent in mobile advertising, analysts expect it to be $4 Billion in 2015. Times are changing, over 50% of all purchases are preceded by internet search.
Created By: Yext.com


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A SELF-PROCLAIMED “Queen of Doomsday” has enough supplies to survive a World War 3 and has only binned three jars in 30 years.
She posts her hacks on canning and preserving food under the name Charmingly Frugal on TikTok.
The ‘queen of doomsday’ who has only thrown away three jars of food in 30 years[/caption]
She saves £3,800 annually by growing and preserving meals[/caption]
She prepares survival backpacks with warm clothes and emergency food[/caption]
Charmingly, 35, has learnt the skills of preserving at the age of four from her late grandparents, Adelle and Clyde.
She grows fresh vegetables and fruit such as peaches, potatoes, tomatoes, corn and squash in her garden for her husband, 39, and three children – aged seven, ten and 12.
Charmingly rotates her pantry and has enough food stocked up to last a year.
The savvy woman also saves around £317-a-month on groceries by buying meat from farmers, and bulk buying pasta, rice and flour – which works out to £3,800 in savings annually.
After her family experienced an earthquake and the Covid pandemic she decided to step up her game and now prepares for any disaster.
In case of emergency,of doomsday has survival kits on standby with warm clothes, water purifiers, emergency food and solar generators.
Charmingly, a stylist, from Salt Lake City, Utah, US, said: “I’m the queen of doomsday.
“Prepping is more of a life insurance.
“You can never be prepared enough.
“The world is a very shaky place.
“Lots of stuff is looming – we don’t know what will happen.”
Along with growing fruit and vegetables in her garden, Charmingly also has herbs such as basil and rosemary.
She said: “Our goal is to have a years’ worth of supply.”
She gets her meat from a local farmer and harvests a cow and a pig for a year.
Charmingly said: “We spent £317 less on food.
“A family spend about £634.
“It baffles me the price of meat. People are paying as much for meat as they for their mortgage.”
As well as preserving food Charmingly keeps prepares for any natural disaster.
In 2016 while living in Alaska the family were evacuated after an earthquake.
She said: “We realised we’ve got to make sure we’re prepared.”
During the Covid pandemic they went four months without going to the supermarket and avoided the panic around food.
But they still increased their supplies to ensure they could be ready for as much as they can.
Charmingly said: “We have solar generators, survival kits and emergency food.
“Inside our home we have nine months supply of freeze dried food on top of canning.”
The family also has first aid kits, warm clothes and equipment to start a fire.
Charmingly said: “There is always a what if.
“Taking these small– it’s insurance.
“A lot of people go straight to doomsday. Let’s hope it doesn’t come to that.”
Charmingly gets trolls telling her she is a “hoarder” and that she is “wasting” food.
She said: “In 30 years I think I have thrown away three jars of food.
“We’re about 80 per cent self-sustainable.”
Charmingly hopes to be able to buy off grid in theand being completely self-sufficient.
She said: “Be prepared not scared.”
Charmingly Frugal has enough food stocked up to last a year[/caption]


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Ahead of the chance to grill Facebook's Mark Zuckerberg on Capitol Hill, Rep. Michael Burgess made a disclosure that played into the hands of critics who say lawmakers don't know enough about technology.
"I don't want to speak for the rest of the committee, but I will be the first to confess that the degree of technological sophistication that I possess is probably somewhat significantly less than the average 12-year-old," the 67-year-old Texas Republican told CNBC.
Burgess, a member of the House Energy and Commerce Committee, also said he's like many users who didn't pay too much attention to the Facebook terms of service he agreed to. "I'm the same as any other consumer. I downloaded the app; yeah, yeah, yeah, get me to the reason I downloaded the app. I don't want all these legalese."
However, Burgess, who was a practicing ob-gyn for over 25 years before politics, said technology, like it or not, is playing an increasing role in everyone's lives. "If there's nothing else that's achieved in these hearings yesterday and today is to make the consumer a little bit more educated about just what exactly they're sharing."
Zuckerberg was questioned on Tuesday before a joint hearing of the Senate Judiciary and Commerce committees about the Cambridge Analytica data scandal. He is scheduled to go before Burgess' committee at 10 a.m. ET Wednesday.
"The problem is the senators, in a lot of cases, weren't prepared to ask follow-up questions. So he was able to stick to his talking points," said Michael Wolf, CEO and co-founder of technology consultancy Activate. He also was formerly president of MTV Networks.
Highlights from Tuesday's Senate hearing include Zuckerberg saying that he's open to government regulation; that there's been recent no dramatic user drop-off; and that Facebook didn't notify the Federal Trade Commission about the latest data misuse situation.
In 2011, Facebook agreed with the FTC to settle charges that it deceived consumers by telling them they could keep their information on the platform private, and then allowing that data to be shared and made public, according to the agency at the time. The deal called for fines of $40,000 per violation.
Facebook has denied any violation of its agreement with the FTC, which said it's investigating the matter.
Facebook has said it first learned of the Cambridge Analytica leak in 2015 and demanded the political consulting group, which worked for Donald Trump's 2016 presidential campaign, delete the data. Zuckerberg told senators, "We considered it a closed case. In retrospect that was clearly a mistake. We shouldn't have taken their word for it."
Burgess believes that questions about whether Facebook should have notified the FTC and whether it violated the 2011 consent decree will come up at Wednesday's House hearing. "Our committee does have jurisdiction over the Federal Trade Commission and the consent agreement."


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Cruise Ship Interiors Expo Miami Announces Its First Conference Speakers
Cruise Ship Interiors Expo Miami is a free-to-attend event catering exclusively to the cruise interiors industry; Industry experts from Norwegian Cruise Line, Holland America Line, Seabourn, and Studio DADO will speak at the conference; The inaugural expo will take place June 18-20, 2019 at the Miami Beach Convention Center
Miami, FL, January 30, 2019 --(PR.com
)-- Cruise Ship Interiors Expo, the world’s first highly focused event dedicated to interior design, architecture, and outfitting in the cruise industry, has announced its first conference speakers and key topic sessions. The inaugural event will take place June 18-20, 2019, bringing togethe....


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Tesco has announced the appointment of former Samworth Brothers chief executive Lindsey Pownall as a non-executive director.
Pownall, who will join the board on 1 April, will also join Tesco’s corporate responsibility committee.
Pownall has a long track record in food, grocery and retail brand development, as well as what Tesco described as a “wealth of experience in supply leadership and strategic development”.
She stepped down at Samworth in December after four years in the role and 20 with the company.
“I’m delighted to welcome Lindsey as a non-executive director,” said Tesco chairman John Allan.
“She brings a wealth of relevant experience, and complements the existing skills and experience on the board. She will undoubtedly be a valuable addition.”


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Update: (Monday, November 19, 2:30) Is it a Thanksgiving week miracle for Twinkie addicts? CNBC reports that Hostess and its bakers' union have agreed to mediation, thus apparently avoiding the company's shutdown. Developing!
Here's the AP story on Hostess and the union entering mediation.
As you've no doubt heard from every news program/late-night talk-show host/relative, Hostess Brands is going out of business. So once the current stock of Twinkies, Wonder Bread and other Hostess staples is sold out, the products won't be available again for a long time -- maybe forever, in the case of some of the more obscure brands.
To our surprise we found a display of individual packages of Twinkies, Ho Hos and other products on sale -- coincidentally, not because of the closure -- for 10/$10. That display is pictured above.
What did the display look like after the weekend? We returned this morning to find out.
As you can see, the display has been considerably condensed, but it's not entirely sold out -- though we didn't see any Twinkies left among the assorted Ho Hos, Sno Balls, Donettes and fruit pies.
A visit to the shelf of boxed Hostess products revealed a spare -- but, again, not entirely cleared-out -- selection of mostly Donettes and Coffee Cakes.
There was no Wonder Bread; Schnucks-brand bread filled its shelf space.
Gut Check purchased a single package of Ho Hos.


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Logan Leonardson once spent a week camped out in line to buy a pair of Nike Air Yeezy 2 sneakers that rapper Kanye West, also known as "Yeezy," helped design.
"There were 14 people ahead of me," Leonardson remembers. "I paid $250, which is what Nike charged for it. It was immediately worth about $2,500."
Leonardson is a "sneakerhead," or connoisseur of sneakers. Ditto for his business partner, Russell Barfield. About two months ago the duo opened Scout Boutique, a men's clothing and footwear store at 1428 Williams St. in Chattanooga's hip Southside neighborhood.
The wares, displayed on a few widely spaced tables and racks around the 1,000-square-foot store, include hoodies "hand-crafted" in Canada by Reigning Champ that cost $135; Danner-brand suede leather hiking boots from Portland, Oregan, for $360; and "raw denim" blue jeans made by The Unbranded Brand — a relative bargain at $82 a pair.
"We're trying to offer a curated selection of street wear," Barfield says. "This style has influences from everywhere: indie, hip hop, skatewear. Street wear is probably the easiest term for it."
Their target market is 20-something, creative professionals who previously had to travel to Atlanta or Nashville to find just the right look.
Barfield, who's from Oregon, and Leonardson, who's from Idaho, met out West. They decided to open their store here partly because Chattanooga is Barfield's wife's hometown. They also thought Chattanooga lacked what Scout Boutique offers.
"We've had numerous people say this is the first time I've bought clothes in Chattanooga since seventh grade," Leonardson says.
The duo got investments from friends and family to fund their business and advice from the Company Lab, a Chattanooga nonprofit organization that helps start-up businesses.
While $150 may sound like a lot for a hoodie, Barfield, who has a master's degree in textiles from North Carolina State University, says it's a quality product with triple-stitching and a terry loop weave, not a fleece lining.
People will pay a premium for well-known brands such as North Face, he says. Part of what Scout Boutique's owners plan to do is educate customers about the value of the brands they carry.
"We have to provide the information to the people," Barfield says.
The store's hoodies sold out, even though all of Scout's business has been word-of-mouth. The only marketing Scout does is free, via the photo-sharing social media site Instagram.
'Can't be sold in malls'
Sneakers, of course, are for sale at Scout Boutique. The offerings include a row of colorful, limited-edition Saucony shoes, an American brand founded in 1898 on the banks of Saucony (pronounced "sock a knee") Creek in Kutztown, Pennsylvania.
"These actually can't be sold in malls," Leonardson says. "Saucony won't allow it."
Releasing limited editions is a strategy that shoemakers use to create a buzz about their brands, Scout's owners say.
"The shoemakers have it down to a science," Barfield says.
"You have 50,000 people wanting a shoe and they only [offer] 1,000 of them," Leonardson says.
Shoemakers benefit from the media attention and social media "buzz" when sneakerheads line up outside stores — along with buyers who want to turn a quick buck by selling desirable sneakers on the resale market, which is big.
Sneakerhead websites track the going price for sneakers. Campless.com, for example, says it analyzes the price that some 1,700 different kinds of sneakers have sold for on more than 23 million Ebay auctions, and it ranks sneakers by desirability using a proprietary algorithm.
Leonardson and Barfield hope someday that a shoemaker will offer a limited release sneaker at Scout Boutique. Their store's clean, minimalist look should help, they think.
The white interior has a few touches that "pop," including a large yellow triangle painted on a floor that stretches up one wall. Wooden paint stirring sticks — the kind that hardware stores give away when you buy a gallon of paint — decorate another wall near the iPad used as a cash register.
Customers have remarked that Scout Boutique reminds them of shops in trendy neighborhoods around the world, including SoHo, in lower Manhattan, and Hackney, in London.
A store's "vibe" is what convinces a shoemaker to choose a clothing boutique for a limited shoe release, Leonardson says — not sales figures.
"You could talk numbers with them all day," he says. "They're like, 'What's your store look like?'"


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The hefty sum is one of the largest patent trial pay-outs levelled at a tech company, but Intel plans to appeal.
Intel has been ordered to pay out $2.18bn after a court ruled against the chipmaker in a patent infringement trial.
The jury in Texas ruled in favour of VLSI Technology, which claimed that Intel had infringed on two of its patents that relate to reducing power consumption in computer chips. The court ordered that damages of $1.5bn and $675m respectively be paid, amounting to around a tenth of Intel’s quarterly earnings.
The story behind the patents and the history of VLSI and its current incarnation is a complex one. VLSI was last an independent company in 1999, before it was acquired by Philips.
The patents in question were first issued to Freescale Semiconductor and SigmaTel Inc between 2009 and 2012. Freescale acquired SigmaTel and then NXP Semiconductors, the Dutch chipmaker and spin-out from Philips, purchased Freescale and the patents with it in 2015.
According to Bloomberg, the patents were transferred to a newly created version of VLSI in 2019, backed by investment firm Fortress Investment Group. VLSI then filed a case against Intel saying it had violated the patents.
Intel argued in the case that it had developed its own method of reducing power consumption in chips and claimed that VLSI has no products and exists only to file patent litigation cases. The company’s lawyer said that if VLSI was entitled to any payment at all, it should be no more than $2.2m and that its demands for more than $2bn were “outrageous”.
The jury disagreed with Intel and ruled in favour of VLSI to the tune of $2.18bn. NXP is due to receive part of that financial windfall.
“We are very pleased that the jury recognised the value of the innovations as reflected in the patents and are extremely happy with the jury verdict,” chief executive of VLSI, Michael Stolarski, said.
A spokesperson for Intel said the company “strongly disagrees” with the ruling and will appeal.
The $2.18bn figure is one of the largest payouts for a patent trial and a hefty sum for Intel. For context, the company’s last quarterly revenues were $20bn.


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MOUNTAIN VIEW, Calif. (Feb. 28, 2014) — Kumar Saha, aftermarket senior research analyst for Frost & Sullivan Inc., will focus on "e-tailing" in his keynote address to the Automotive Aftermarket Suppliers Association's (AASA) "Vision Conference 2014," to be held at the NASCAR Hall of Fame in Charlotte, N.C., on March 25-26.
"Winning in the Aftermarket… The Chase for Innovation" is the theme of the members-only Vision Conference, the AASA said. As such, the conference aims to "provide clarity to elements that are essential for suppliers to innovate and end up successful in the many facets that comprise the modern automotive aftermarket.…"
Mr. Saha's presentation, "Winning in Emerging Channels: e-Tailing," will provide conference participants with tools to take advantage of the opportunities presented through online retailing of parts. E-tailing could account for about 10 percent of aftermarket revenue by 2020, he said.
"At the very least, digitization opens up a dynamic channel of communication between suppliers, installers and end-users," Mr. Saha said. "On the other end, digital presence can, in theory, allow a supplier to sell directly to customers.
"Most importantly, e-retailing and other attendant technologies could potentially shake up an entrenched aftermarket structure," he said.
Frost & Sullivan has made available some slides from his presentation. Click here to access them.
Other speakers and their topics scheduled for the Vision Conference include:
- Ann Wilson, senior vice president, Motor & Equipment Manufacturers Association — "Washington & States: Impacting Suppliers' Winning Strategies";
- James Burkhart, senior vice president, Federal-Mogul Corp. — "Winning in Exploding Markets: New Global Models";
- Tony Molla, vice president of communications, National Institute for Automotive Service Excellence (ASA) — "The Changing Automotive Service Professional";
- David Portalatin, executive director of industry analysis, NPD Group Inc., moderating a panel on "What can a 'Hard Part' Supplier Learn from the Front Room Community?"
- Tanvir Arfi, president, Bosch Automotive Service Solutions — "What will be Required to be a Shop of the Future?";
- Bill Long, president and COO, AASA — "Implementing Innovation and Change to Win in the Aftermarket";
- Mike Odell, president and CEO, Pep Boys – Manny, Moe & Jack — "A New Approach to an Existing Model"; and
- Dan Risley, executive director, ASA, moderating a panel on "Understanding The Needs of Tomorrow's Independent Repair Facility."
For more information about the AASA Vision Conference, visit the association's website.
With the threat of more tariffs looming, how concerned are you about a trade war?
|Very. It could lead to another recession.||
37% (53 votes)
|It will be good for the U.S.||
19% (27 votes)
|It’s too early to tell.||
31% (44 votes)
|We have bigger problems than this.||
13% (19 votes)
|Total votes: 143|


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KARACHI: The overall automobile sales (cars, LCVs and vans) dropped six per cent to 39,006 units during first two months of this fiscal year compared to 41,671 units in the corresponding period last year, showed data released by Pakistan Automotive Manufacturers Association (PAMA) on Tuesday.
Indus Motor Company emerged as top performer amongst its peers, however, the company recorded 9 per cent year-on-year decline in units sold in August. Moreover, the company sold 10,486 units during the July-Aug period, up 3pc led by sales in Hilux model, which continued its robust growth trajectory, up by 23pc. On the other hand, Corolla and Fortuner sales dipped by 12pc and 23pc, respectively.
According to data released by PAMA, Honda Atlas Cars Limited (HACL) sales witnessed 15pc drop to 3,961 units. Cumulatively, during the first two months of current fiscal year, company’s sales fell by 3pc. Variant wise, Civic and City sales fell by 12pc while BR-V sales continued its dismal performance from last month, falling 32pc.
Pak Suzuki Motor Company Limited experienced significant decline in sales with volumes down 27pc to 8,683 units. Declines were led by Ravi and Mehran, which were down 50pc and 42pc respectively, while sales of Wagon-R variant posted 11pc growth, albeit at a slower pace. Overall, during July and August, total sales by Pak Suzuki declined 12pc, the most amongst its peers.
Syed Danial Adil at Top Line Securities said this is the first time that auto sales have declined in first two months of a fiscal year since FY15. This was mainly attributable to lesser working days on account of Eid-ul-Adha, deteriorating macroeconomic environment, more than three to four price hikes in ongoing calendar year and impact of additional legal requirements for car purchasers.
He said that this slowdown is likely to continue in coming months as rising interest rates and rupee depreciation are expected take their toll on the sector. Rate changes and weakening rupee are likely to affect consumer financing costs and in turn increase in the prices of local models.
Additionally, total tractor sales in July and Aug fell to 7,913 units from 9,757 in same period last fiscal year whereas truck sales flattened to 1,199 from 1,478 units. On the other hand, bus sales improved to 217 units from 175 units due to big jump in sales of Isuzu buses up to 85 units rising from two units last year. Hino and Master bus sales fell to 78 and 54 units down from 105 and 68 units same period last year.
Total sales of two and three wheelers of PAMA members stood lower at 290,907 units versus 324,050 units in July and August. Atlas Honda Limited, the main player in two wheeler segment suffered a decline in sales to 170,021 units from 187,249 units during the period under review.
Published in Dawn, September 12th, 2018


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In rural Guatemala, access to basic health services is often minimal at best. In many areas of the country, the only available health options are to consult a traditional healer, to self-medicate, or to make an expensive visit to a doctor in a town that is several hours away. Overall, health outcomes in Guatemala compare unfavorably with those of much poorer countries. That’s especially true in rural, indigenous communities, where child mortality and malnutrition rates are 50 percent higher...
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The pressure the Trump administration has made to prevent China from taking control of the high-tech market has set a collision course with the same American companies it wants to protect.
Companies that specialize in microchip, artificial intelligence, biotechnology, and other industries have grown increasingly concerned by management efforts to restrict the flow of technology to China, saying they may pull expertise, research and revenue away from the United States, ultimately eroding America’s advantage.
Fears, which had been burning for months, took urgency, as the Commerce Department was considering adopting a comprehensive proposal that would allow the United States to ban transactions between US companies and Chinese counterparts. These rules, in addition to new restrictions on Chinese investment in the United States and proposed measures that would prevent US companies from exporting certain products and exchanging technology with foreign nationals, have the technology industry scrambling to respond.
The Trump administration’s campaign has already prompted foreign companies to avoid US components and technology due to concerns that access to the parts they need may suddenly stop. American companies are watched with caution as the United States considers export licenses restricted to companies selling products or sharing intellectual property with China, including General Electric, which sells aircraft parts to China as part of a joint venture with Safran, a French company.
Senior management officials plan to meet on February 28 to discuss more restrictions on China, including Whether the license to sell jet engines to G.EE will be banned and whether the Chinese telecom giant Huawei’s access to American technology will be curtailed.
There is a growing bipartisan consensus in Washington that China poses a security threat and that the United States must protect domestic industries to maintain a technological advantage. But the technology industry has warned that restricting access to China, both in terms of buying and selling products, could cripple US companies and end up undermining the United States as the world’s largest global research and development center.
Companies, along with lawyers and counselors who advise them, say companies are increasingly having no choice but to seek more research and development outside the United States, to ensure uninterrupted access to China, a rapidly growing consumer market, and the center of the global electronics supply chain. They say new investment dollars are being transferred to research centers near the University of Waterloo in Canada, as well as Israel, Britain and other places out of reach of the US government.
“Anyone who thinks that our concerns are exaggerated should speak to semiconductor industry workers in the United States who are already losing their jobs due to the closure of our largest market,” said John Nofer, president and CEO of the semiconductor industry association, which represents chipmakers. . “The revenue from this large market is fueling our substantial research investment, which allows us to innovate and drive economic growth and national security for America.”
RISC-V Foundation, a nonprofit that created an open source software standard for chips that operate smartphones and other electronic devices, has acknowledged in recent months that it has chosen to move its foundation from Delaware to Switzerland due to concerns from its members about stricter regulations in the United States.
Scott Jones, a non-resident fellow at the Stimson Center, said: “If this administration continues on the current path, we will see more corporate and schism splits.” “They will take their games and go somewhere else, and other economies will benefit from this.”
The latest source of concern stems from a Commerce Department proposal last November to examine and prevent technology transactions that might pose a threat to the United States. The rule would allow the Secretary of Commerce to prohibit transactions involving technology linked to a “foreign discount” that pose a major threat to the United States.
The rule arose from the executive order signed by President Trump last year to try to shut down Huawei by letting the commerce minister block it Any technical purchase designed by “foreign adversary” jeopardizes America. American companies say the regulations are so broadly written that they can give the United States the authority to block transactions or relaxation located far from telecom equipment.
While tech companies say they support efforts to protect the national security of the United States, dozens of companies and pressure groups in the industry have expressed concerns about the proposal.
In a January comment message, IBM asked the Commerce Department “to return to the drawing board” and said the rules “would lead to a broad disengagement of American business from global markets and suppliers.”
“Its reach, breadth and mystery are unprecedented,” said IBM.
The Internet Society, which counts Google and Facebook among its members, said the proposal lacked “objective guarantees”. The Motion Pictures Association has warned that it could affect Hollywood’s ability to track transactions about special effects or animations.
The Ministry of Commerce said in a statement that the process will ensure that “all points of view have been considered and that US national security considerations are balanced with the commercial interests of companies.”
More stringent measures have come in response to what management and even the technology industry consider an increasing economic and security threat. China is gaining ground through a set of technologies that experts say could give the country an economic and military advantage, including artificial intelligence, facial recognition, microchips and quantum computing.
In an effort to control these advanced industries, China has published subsidies and acquisitions directed at US companies, and has drawn up industrial plans Like made in China 2025 to jump forward. The administration has repeatedly accused China and its companies of being involved in corporate espionage and theft of intellectual property.
Last week, the US government Huawei and two of its subsidiaries were charged with extortion and federal conspiracy to steal trade secrets from six US companies. It also accused four Chinese military personnel of infiltrating Equifax, one of the nation’s largest credit reporting agencies, and stealing trade secrets and personal data of about 145 million Americans in 2017.
Beijing’s actions created a great fear in Washington that China would dominate advanced industries and stop American competitors from operating, as it did in steelmaking, furniture, and solar panels. But the risks are greater this time, given that many of these new technologies are important to the military.
Prosecutor William B. said. He justified in a speech this month: “The Chinese have long been a trading people, but for China, pure economic success is not an end in itself.” “It is a way to achieve broader political and strategic goals.”
The Trump administration’s response has been to introduce a new definition of national security, including economic threats. This discrimination allowed the United States to enact strong rules restricting trade exchanges with China.
Mr. Trump mentioned national security in his decision to impose a tax on foreign metals, proposing new restrictions on technology that could be transferred outside the United States and preventing Chinese companies such as Huawei from purchasing American components.
While tech companies have found a way to overcome Huawei’s initial ban, management is another Consider stricter restrictions. A new proposal would extend the U.S. government’s scope to regulate manufactured products worldwide, and prevent companies from using American components and technologies in foreign-made products that are then provided to Huawei.
The proposals have caused panic in the technology industry, which fears that the new restrictions will hamper its ability to benefit from the Chinese market. Industrial lawyers and business groups have begun to warn that unless management can persuade its allies to adopt similar restrictions, companies will decide that the safest path is to try to limit their use of American technology.
Critics point to past incidents in which strict controls pushed American industries abroad – including machine tool makers in the 1990s, and commercial satellites in the 2000s. While it is illegal for companies to transfer existing operations abroad to try to circumvent export control rules, there are no such restrictions on new investments.
Jim McGregor, President of Greater China to APCO Worldwide, said of America’s largest technology company: “Their motivation is shareholder value and money.” “He does not defend what is good for America. You can say this is terrible, but this is how our system works.”
Mr. MacGregor said that the economic incentives for the Chinese market would encourage companies to “separate from America.”
Chinese companies are also working to shake off American components from their supply chains – a long-term effort toward self-sufficiency that has accelerated under the threat of tougher U.S. actions.
In recent months, some Chinese companies have started asking their suppliers to certify that their products are made with the least amount of American content possible, and therefore are not in danger from US export controls, say people familiar with the talks.
Chinese telecom operators have been asked to find an alternative to using Oracle software in their systems. CITIC Capital, a giant investment management firm with deep ties in China, has helped Chinese companies find alternatives to American technology as an investment topic for this year.
Some who support China’s stricter rules say companies are exaggerating the potential impact in an attempt to influence the new regulations. They say the United States maintains significant advantages in research and development, and companies are trying to scare the government into loosening the rules by saying they will leave.
Others say the national security threat from China is so serious that there are some revenue losses in the short term.
“You can’t avoid paying that price,” said Clyde Prestowitz, a former Reagan administration official who led trade negotiations with Japan and China. “Your only option is to push it now or later. Now, you still have a sophisticated industry that will be hugely successful, but it can survive and thrive if advanced technology does not become a Chinese stadium.”
The view of management is not homogeneous. Within the Commerce Department, some are pushing for tougher rules while others say stalled US businesses will do much to threaten national security.
The Pentagon is also divided, with some officials calling for stricter regulations, while others say the government should not jeopardize innovation, given that military technologies usually rely on commercial products.
Some Chinese experts say that American companies are deluding themselves and that avoiding the tougher rules will only ensure that China ultimately steals its technologies and gets them out of business.
“We have seen what happens to many foreign companies that” should be “in the areas of steel, telecommunications, etc.,” said Derek Scissors, resident researcher at the American Enterprise Institute, on China. “They gradually become more desperate, until they die.”


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Empire State Building Unveils Annual Holiday Light Show With Pentatonix
Entertainment| | By Margo Gothelf
“Holiday lights on the Empire State Building and Christmas music on 106.7 litefm are NY holiday traditions,” said Tom Poleman, President of National Programming Platforms at iHeartMedia. “We’re excited to partner by syncing our holiday music to the tower lights, creating something special for New Yorkers while they celebrate the season.” To get fans in the holiday spirit, the recent Grammy nominees made a special appearance atop the ESB earlier in the month and performed the hit song in the lobby of the building. “Through our partnership with iHeartMedia, our signature light shows set to music have become a spectacular sight illuminating the New York City skyline, and our holiday light shows are particular New York City favorites,” shared Chairman and CEO, Anthony E. Malkin. The light show, designed by the well-known lighting designer Marc Brickman, is sure to get you in the holiday spirit. Check it out below!


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App-based car service to revolutionise transportation industry
LAHORE: Careem, an app-based car service, makes ordering chauffeur-driven cars reliable, safe, convenient and affordable, in line with its mission to bring a revolution in transportation and logistics industry of the region.
Talking exclusively with Daily Times, Careem Pakistan Managing Director Junaid Iqbal said the company emphasises on convenience, as it is a key value proposition and we make sure it does not come at the expense of a high price.
Careem was launched in 2012 by Mudassir Sheikh and Magnus Olsson, two former McKinsey consultants, who wished to develop reliable and affordable urban transportion.
The company is a pioneer in the MENA region’s nascent ‘sharing economy’ – its mission is to make people’s lives simpler by revolutionising the logistics industry in the region. The company operates across 10 countries and 22 cities including Abu Dhabi, Amman, Bahrain, Beirut, Cairo, Karachi and Lahore.
Careem came to Pakistan in 2015 and after a successful launch in Lahore and a positive growth, month-on-month, it took Karachi under its wing and launched its test service.
As per Iqbal, who also drove Elixir Securities for the last three and a half years as CEO, Careem aims at making the customers’ commuting experience hassle-free, adding that it brings a solution to all car problems of people in Pakistan whether you don’t have a car, you don’t have a driver, have a late-night airport flight to catch, daily office/university commute, a corporate meeting, a hangout to attend or a shopping spree.
“Keeping in mind needs of the consumer, Careem keeps itself flexible from the get go: from booking a car to paying for your journey. Customers can book a car from the app, website, or by calling the call centre,” Iqbal said. “We did not limit ourselves to just an app because people who do not have smartphones or Internet can also have access to our service. Our payment methods are also flexible.”
With special promotional offers, option of paying by cash or credit and monthly invoicing service, the consumers can make their payment as they see most convenient.
“When it comes to our drivers, whom we refer to as ‘Captains’, we do rigorous background checks that include address verification, criminal records and CNIC verification etc. In addition, we have an emergency hotline that is available 24/7 for both customers and ‘Captains’ to report any safety issues. And lastly, many parts of our service, eg confirmation texts and e-mails, ‘Captain’ picture on booking, ride tracking, privacy of customer phone number etc have been designed keeping in mind the safety of our customers,” explained Iqbal, one of the youngest CEOs in Pakistan’s financial sector.
The company is currently focusing on expanding its network across Pakistan. With the $60 million investment, which it raised recently from Al-Abraaj group, Careem plans to accelerate growth in existing markets, expand into new markets, invest in innovative new products and services, and recruit world-class regional talent to fulfil the company’s mission of simplifying the lives of people and building a regional success story that inspires.


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Following a series of leaks that gave us the opportunity to view the Huawei Ascend P7 from all angles, the smartphone in question went live in May and enjoyed its success ever since. Nevertheless, Huawei seems to want and pump more life into the device, as a new spin-off boasting sapphire display appears to slowly but surely make its way towards the finish line.
As some of you might be able to recall, roughly three weeks ago Huawei’s Device Chairman and Consumer BG CEO Yu Chengdong told a reporter that the company’s plans are to release “shocking products”. At that moment Yu Chengdong pulled a Huawei Ascend P7 with sapphire display from his pocket, adding more weight to his statement. Three weeks later and Yu Chengdong has now reconfirmed that the smartphone in question will indeed sport a sapphire display. More details right after the break.
Sapphire Version of the Huawei Ascend P7 Confirmed
Earlier yesterday, Yu Chengdong shared the image above via his Weibo account, saying that the company will release the Huawei Ascend P7 in a more exclusive flavor boasting sapphire display. The CEO hasn’t revealed any details about pricing, but chances are that the sapphire screen model will set us back more than the regular variant. It’s also interesting to note that, if this version of the Huawei Ascend P7 will be unveiled at IFA in Berlin, it might become the first smartphone to feature sapphire display, excluding niche devices like the luxurious Vertu Ti or the rugged Kyocera Brigadier.
As for the smartphone’s hardware specifications, the current Ascend P7 model sports a 5-inch Full HD display, a HiSilicon Kirin 910T SoC with a quad-core processor clocked at 1.8 GHz, 2 GB of RAM and a 13 MP main camera mated with a generous 8 MP front-facing sensor. Aside from the presence of sapphire glass, we suspect that the hardware specifications will remain unchanged on the refreshed model.
Would anyone be interested in buying the Huawei Ascend P7 with sapphire glass?


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Auto insurers have been caught off-guard. Traffic deaths had been in decline for four decades, as a result of Mothers Against Drunk Driving (MADD), seat belts, crumple zones, anti-lock braking systems, air bags and a string of other safety improvements. Then in the middle of 2015 things changed. Road deaths jumped 7% in 2015, and rose another 6% in 2016.[i]
This has resulted in an unanticipated spike in payouts for US auto insurers. The reason, according to Matt Winter, President of Allstate,[ii] is that the proliferation of smartphones proved an irresistible distraction just as cheap gas prices and a pickup in the US economy resulted in more drivers on the road.
71% of young drivers admit to sending a text while driving.[iii] That means that they’re not looking where they’re going for five seconds on average. Among teenage drivers, 20% admit to taking pictures, surfing the internet and checking social media while driving.[iv] It’s not just the entertainment device in your pocket that is a problem. Typing your destination into the car navigation system or searching for your favorite songs are also dangerous.
Greater frequency and severity of accidents aren’t the only headaches for auto insurers. The cost of car repairs is also rising, partly due to the new safety features that were supposed to prevent those accidents. The cost of replacing a bumper after a fender bender may have doubled or tripled because of the rear-view camera and sensors that are now typically built into bumpers.[v]
It’s ironic that the rise in accidents is coming at a time when safety features like sensors and automatic braking are becoming more widespread in cars on the road. Maybe drivers are lured into a false sense of security which makes them more likely to reach for their phone when they feel the buzz of a new text?
New technology could affect auto insurers in other ways too. Car-sharing services like Zipcar and ride-hailing apps like Uber and Lyft may reduce car ownership in big cities. Uber CEO Travis Kalanick argued at the World Economic Forum in June 2016 that self-driving cars may result in the end of individual car ownership. “If there was a mobility service that was cheaper than owning a car, more reliable, and you get to sit in the back seat instead of being stressed out in the front seat, why would you own a car?” he said. [vi]
Don't count out auto insurers just yet. Cars won’t be fully autonomous for many years. Recent studies indicate that ride-hailing and car sharing apps are likely to have minimal impact on total new car sales, after taking into account the rapid replacement of shared vehicles.[vii] I expect the recent rise in road accidents to be reversed too, since there is likely to be more focus on teaching awareness of the dangers of distracted driving, and stricter enforcement of laws prohibiting cell phone use while driving.
Auto insurers have been raising policy rates to reflect the recent rise in auto loss costs. Allstate has raised its policy rates by 10% over the last two years[viii] and has changed its underwriting to avoid some of the riskiest drivers. The company expects auto insurance rate increases to moderate, and loss trends to stabilize. Several large auto insurers now offer to monitor your driving, either via a smartphone app or a dongle, with discounts on your insurance if you are driving well. The dongle, which is a small device inserted into your car, can monitor your speed, whether you frequently brake hard (often cited as a sure sign of a bad driver), what time of day you typically drive, and what neighborhood you are in.
Technological change may also provide opportunities for a new kind of personal insurance - for flying cars. Google’s co-founder Larry Page is funding research into flying cars, and Uber last year published a white paper on personal Vertical Take-off and Landing (VTOL) vehicles. Flying cars could be a large new market for auto insurers.
Dubai’s transport authority recently announced that it plans to introduce autonomous single-passenger taxi drones in July of this year. There are reasons to be skeptical about Dubai’s timetable. There is no detail about the safety features of the Ehang 184 quadcopters that they plan to use, and according to news reports, little evidence that they have done much test flying. But even so, the time until widespread availability of flying cars is likely to be measured in years, not decades.
Just don’t send a text when you are flying your car.
[i] National Safety Council, NSC Motor Vehicle Fatality Estimates, as of December 2016.
[ii] Merrill Lynch, US Insurance Conference, February 2017.
[iii] National Highway Traffic Safety Association Distracted Driving, as of March 2017.
[iv] State Farm, Teens, Smartphones and Distracted Driving, October 17, 2016.
[v] The Hartford, Why Complex Cars Cost More to Repair, September 22, 2016.
[vi] World Economic Forum, Annual Meeting of the New Champions, June 27, 2016.
[vii] Center for Automotive Research, The Impact of New Mobility Services on the Automotive Industry, August 2016.
[viii] Allstate,Q4 2016 Earnings Call Presentation, February 2, 2017.
This blog post is provided for informational purposes only and should not be construed as investment advice. Any opinions or forecasts contained herein reflect the subjective judgments and assumptions of the authors only and do not necessarily reflect the views of Loomis, Sayles & Company, L.P. Information, including that obtained from outside sources, is believed to be correct, but Loomis Sayles cannot guarantee its accuracy. This material cannot be copied, reproduced or redistributed without authorization. This information is subject to change at any time without notice. Market conditions are extremely fluid and change frequently.


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Rich prizes in the Wolselely pipeline
PLUMBERS' merchant Wolseley hopes to reap rewards from government efforts to increase the supply of new homes.
Its six-month UK sales topped £1bn for the first time, helped by demand for boilers and plumbing tools.
Group sales jumped 22% to £4.8bn. Chief executive Charles Banks said: 'People are upgrading their homes.' He reckons the Barker report's aim of speeding up the planning system is 'good' news for Wolseley though it will take time.
Group pre-tax profit rose from £187m to £226m and was up 9.4% on an underlying basis. The weak dollar cost £4.5m. Dividends jumped from 5.6p to 7.8p, reflecting a 'one-off rebalancing between the interim and final dividend'.
Wolseley shares fell 26p to 826 1/2p. They have had a strong run over the past year and trade on just over 12 times earnings. Banks is bemused that some analysts are worried about the outlook for the US market, saying: 'We are bullish.'
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Good morning. Here's everything you need to know in the world of advertising today.
1. Facebook and Snapchat are trading blows in a fight for messaging domination and the money that comes with it. This week, Snapchat massively overhauled how people chat, taking the best parts from Facebook's messenger.
2. 11 famous products that were originally intended for a completely different purpose. We collected 11 examples of products that have been remarkably successful, despite being intended for something else.
3. A European genius who saves breweries from the grave has set his sights on a $700 million "dad beer." Eugene Kashper is determined to turn Pabst Blue Ribbon into an industry titan.
4. Apple's new tear-jerking ad shows an autistic boy using an iPad to speak. April 2 was Autism Awareness Day and Apple did its part with this tear-jerking ad about about a boy named Dillon.
5. Facebook is said to have withdrawn its bid to stream big NFL games. Sources told Bloomberg that Facebook "balked" at the NFL's advertising model, and wanted its live video to be commercial-free.
6. This might be the fanciest McDonald's in the world. McDonald's recently-opened restaurant in Rotterdam, Netherlands, which looks like an Apple Store, hints at the fast food restaurants shifting marketing strategy.
7. 1 in 10 people in the US uses an ad blocker. The level of ad blocker usage has remained steady over the past six months, comScore says.
8. Beyoncé's fans threatened to put Lululemon out of business after the brand accused her of copying. Beyoncé recently introduced her new athleisure line called Ivy Park.
9. America's definition of sexy has completely changed, and retailers are toning it down. Just over a decade ago, consumers were inundated with overtly sexual imagery.
10. This is how Pinterest is pitching advertisers. Pinterest’s pitch to brands is getting more sophisticated, with targeting tools, fancier ads, and more robust e-commerce tie-ins, Digiday reports.


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Jessica Alba's Honest Company markets itself as a transparent company specializing in organic and "natural" personal and family products.
But in a class-action lawsuit, two New York residents are accusing the company of swindling consumers. They say that Honest Company is marketing its products as "natural" and "all natural," when they contain synthetic ingredients.
Jessica Alba is not specifically named in the suit against the company.
Brad and Manon Buonasera claim they bought the company's Conditioning Detangler and Shampoo + Body Wash products from a Costco store in Manhattan. But the pair were disappointed to learn the products actually contained synthetic ingredients.
The shampoo and body wash contains a number of synthetic ingredients, the Buonaseras claim in their lawsuit filed at the United States District Court Southern District of New York.
Sodium methyl cocoyl taurate, for example, is synthetically produced by reacting taurate salt with a fatty acid. Another ingredient, lauryl glucoside, is produced by turning lauryl alcohol into an alcohol with another synthetic substance under acidic conditions.
"Ironically, Honest's products are not so honest, after all," the Buonaseras claim. "Instead, Honest's products are a chemical soup, containing a substantial array and significant amount of ingredients that are synthetic."
The Buonaseras accuse the company of profiting from "unlawful, deceptive, and fraudulent business acts and practices" in marketing their products as "all natural" and "natural" even though they contain synthetic ingredients.
The Honest Company told BuzzFeed News in a statement that it "takes its responsibility to our consumers seriously and strongly stands behind our products."
"These allegations are without merit and we will vigorously defend this baseless lawsuit," it claims in the statement. "Our formulations are made with integrity and we remain steadfast in our commitment to transparency."
The lawsuit comes as the Federal Drug Administration tackles the question of how to define "natural" ingredients in food. It turns out, "natural" actually has no real meaning for food or personal care products.
The Federal Drug Administration states on its website it has "not defined the term 'natural' and has not established a regulatory definition for this term in cosmetic labeling."
It only warns that companies not "use terms such as 'natural' as part of an ingredient statement, because ingredients must be listed by their common or usual names, without additional description."
In foods, the administration has a longstanding policy that considers "natural" to mean that "nothing artificial or synthetic (including all color additives regardless of source) has been included in, or has been added to, a food that would not normally be expected to be in that food."
This isn't the first time Alba's company has been sued. The Honest Company was accused of deceptive and misleading marketing over its "natural" products in September 2012 by a California consumer.
Consumers have filed similar lawsuits against other companies claiming to sell "natural" products. A Madison woman filed a lawsuit against Earth Friendly over its "natural" products in September.
Other major brands have been sued by angry consumers who believed their products were in fact "all natural." In August, 2013, Tresemme, a Unilever product, was accused of marketing itself as "natural" even though it contained synthetic ingredients. Aveeno, a Johnson & Johnson brand, was sued two months later for falsely stating its lotion was 100% naturally-sourced when it contained synthetic ingredients.


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Scandit has released a point of delivery app for parcel deliveries designed to improve compliance with social distancing measures, with DB Schenker among the first to roll it out across operations.
Concerns over the spread of coronavirus have led customers to be fearful of touching the hand-held devices used by delivery drivers to sign off on packages, which is why Scandit has released the app.
The surge in online orders – Kanter said today that online grocery delivery was up 0.8 percentage points year-on-year in the past four weeks – has led retailers and logistics providers to find ways to protect employees and customers, by ensuring social distancing is observed.
To combat the issues of safety and security, Scandit has made its Contactless Proof of Delivery app free for the next six months, until 30 September.
Customers can use their own smartphone to scan a QR code which opens the app, and then scan the barcode on the package, and sign on their device to confirm a delivery or pickup.
Scandit developed the app and decided to offer it for free during the COVID-19 pandemic after requests from existing logistics customers.
Samuel Mueller, chief executive of Scandit said: “When we heard from customers about this problem, we quickly created the app.
“In an effort to make it widely available as soon as possible, we’re offering it free for six months to any company that can benefit from it.”
Dastan Namousi, demand and eService manager at DB Schenker, Nordics, said: “Due to the pandemic, we needed a way to ensure the safety of our drivers and consignees who were not comfortable with signing for shipments on our handheld devices.
“We needed a fast and simple solution for customers to sign for shipments on their own mobile devices. Scandit already provides barcode scanning software for one of our terminal sorting applications and we realised that the same solution could be used for this new signing application.”


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A large majority of the world’s 3.4 billion smartphone users are putting their necks at risk every time they send a text, according to new research involving UniSA.
‘Text neck’, as it is colloquially called, places stress on the spine and alters the neck’s natural curve, increasing the likelihood of associated soft tissue discomfort.
A recent international study published in PLOS One, highlights the high ergonomic risks to smartphone users, particularly young people, who are experiencing neck pain earlier than previous generations.
Researchers from Khon Kaen University recorded videos of 30 smartphone users – between the ages of 18 and 25 – who spend up to eight hours a day on their phones.
Using a Rapid Upper Limb Assessment tool (RULA) to measure ergonomic risk levels, they found that the average score for the participants was 6, compared to an acceptable score of 1-2.
“The results identified issues with unsuitable neck, trunk and leg postures which lead to musculoskeletal disorders,” says lead researcher Suwalee Namwongsa.
RULA has been used to assess the ergonomic impacts of desktop computers and laptops in the past but this is believed to be the first time the tool has been used to assess ergonomic risk levels of excessive smartphone use.
Dr Rose Boucaut, a UniSA physiotherapist involved in the paper, says the awkward postures adopted by smartphone users can adversely affect the soft tissues.
“These postures put uneven pressure on the soft tissues around the spine, that can lead to discomfort.”
In a separate study published in the journal WORK, the same researchers also surveyed 779 Thai university students who use smartphones, with 32 per cent reporting neck pain, 26 per cent shoulder pain, 20 per cent upper back pain and 19 per cent wrist and hand pain.
Musculoskeletal disorders were more common among students with higher smartphone use (more than five hours a day) and those who smoked and did little exercise.
Female smartphone users also experienced far more musculoskeletal disorders than men – 71 per cent compared to 28 per cent.
This study is the first to show the association between smoking, smartphone use and neck pain. Of the 11 students who identified themselves as current smokers, nine of them had musculoskeletal disorders. The low number of smokers reflects the no-smoking policy of the Khon Kaen University.
Previous clinical studies have demonstrated that cigarette smoking is harmful not only to lungs but also to soft tissues, decreasing healing time at a cellular level.
Dr Boucaut says the findings should be communicated to health professionals who treat people with neck and back pain and may not always link their symptoms to smartphone use.
“It is also doubtful whether people experiencing back and neck pain (especially young people) are aware it could be as a result of excessive smartphone use,” Dr Boucaut says. “Health practitioners need to educate their patients about safe postures and curtailing time spent using smartphones to help prevent these issues.”
Some smartphones advise users of their average daily use.
“This feedback may help users connect neck discomfort with smartphone use and encourage them to reduce time spent texting,” Dr Boucaut says.
The other researchers involved in both studies include UniSA graduate Associate Professor Dr Rungthip Puntumetakul, Director of the Research Center in Back, Neck, Other Joint Pain and Human Performance (BNOJPH), Khon Kaen University, Thailand; Dr Manida Swangnetr Neubert and Associate Professor Dr Sunisa Chaiklieng.


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Nothing seems to be the same in 2020, but we can guarantee that one yearly highlight will be unforgettable: Afera’s 1st Online Annual Conference!
Leaders and experts from all segments of the industry value chain will learn, discuss and meet in an online environment. As always, the programme will be packed with inspiration and information.
This year’s programme is centered around the key industry topic of sustainability and circularity. The organising committee prepares a dynamic programme with the response from senior management and sustainability experts from a large number of Afera members on the dedicated Survey earlier this year. It enables us to develop a programme that covers all angles of the complex topic of industry sustainability in close collaboration with the WG-sustainability.
All Afera members will have exclusive access to the online conference programme, divided in 6 bi-weekly, 90-minute sessions, starting on Thursday 15 October 2020.
[ Provisional programme, subject to change – speaker names to be announced soon ] – ALL TIMES ARE ‘CENTRAL EUROPEAN’


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BEECHAM's NEW CHAIRMAN WILL BE ROBERT BAUMAN, 55
BEECHAM's NEW CHAIRMAN WILL BE ROBERT BAUMAN, 55, the current vice chairman of Textron, the Providence, R.I.-based aerospace, financial services and consumer products conglomerate announced August 4. Bauman, the first American appointed to head Beecham, will succeed acting chairman Sir Keith of Castleacre at the top management spot for the British pharmaceutical and consumer products business. The appointment becomes effective September 15. Bauman joined Textron in 1985 after that company acquired Avco Corporation, where Bauman was chairman and chief exec. Prior to joining Avco in 1981, Bauman was with General Foods for 23 years -- the last seven years as president of the company's international operations. Bauman graduated from Ohio Wesleyan and holds an MBA from Harvard. Although he brings to Beecham hands-on experience managing a large multi-national conglomerate, Bauman has no experience with pharmaceuticals. As the company puts greater emphasis on its drug business, responsibility for the growth of that business segment will fall to Pharmaceutical Group President James Pollard, head of Beecham's worldwide pharmaceutical business. Beecham acquired the Norcliff Thayer OTC business from Revlon in December and recently announced that its Germaine Monteil cosmetics business is for sale. In its just-released annual report for fiscal 1986 ended March 31, Beecham said it paid $368.7 mil. for Norcliff Thayer, whose annual sales under Revlon were roughly $150 mil. In fiscal 1986, Beecham's worldwide pharmaceutical sales increased approximately 30% (in dollars) to $1.27 bil. with Rx sales accounting for approximately $1.04 bil. and OTC product sales approximately $230 mil. Measured in pounds sterling, Beecham pharmaceutical sales were up 8.3% to (BRITISH POUND)862.
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In internet some of the news are very interesting in this way we read Face Book will ended in May -2013 in WEEKLY WORLD NEWS in internet , and I read in a news article Google + Face Book announced a science award, this award money is higher than Nobel prize. This award gives in the field of science. Anyone researched to increase human life span that will be success (compulsory that experiment gives result to increased human life span then Google and Face Book gives 15 crore rupees to that person. This amount is higher than Nobel Prize) this is the very hot topic in the world.
Some are thinking this will goes to Google buy Face book. And in weekly world news published in October -2012 Face Book will ended in may 2013 in that article Mark Zuckerberg told Face book has out of control
This is real because every second by second uploading is increase many videos and images are uploading every second by second in every country this is caused to maintain very stress and costly. And recently face book announced our users are reached 1 billion this is very great successes but in the same time very stress full also. I saw in the face book many adult content images and videos also uploaded this is one bad thing in face book. In some countries people also want to ban this social networking sites this sites caused some bad impression on people.
But in some cases social networking sites are very useful how recently in Hyderabad bomb blast incident every people in face book are share their courage and hopeful messages and also some are posted any blood donors please give suffering people in Hyderabad bomb blast. This is very helpful many young men are come and give blood donation to the needy people in Hyderabad bomb blast. See hear some good and bad impressions.
But 1 billion users are in face book to maintain these users to require many servers and offices are wanting in every country. Face book users are increased day by day so they maintain this situation very stress and costly.
But Google is different than other sites because our Google is search engine not social networking site now Google products are using universally. Day by day Google become Internet Line and king of Internet. So I think only Google has capacity to maintain Face book
NOTE: Above matter is only my thought not real


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NFT building studio Mojito introduced Friday that they have got raised $20M in seed investment from a lot of buyers, together with across the world recognized public sale space Sotheby’s.
In keeping with a press release printed in Forbes, Sotheby’s public sale space in partnership with Long term Best possible Ventures, Ingenious Artists Company and NEA’s Attach Ventures, contributed to the spherical at Mojito’s estimated price of $100 Million.
The Delaware-based start-up indicated that it’s going to use this new injection of capital to develop and broaden its engineering groups, make a greater model of its present NFT platform, and additional broaden its NFT buying and selling and funding platforms.
The NFT marketplace has noticed its overall per month gross sales drop from early September, despite the fact that numbers have held at between $1.8 and $2.1 Billion for the remaining month in line with nonfungible.com. The NFT marketplace’s overall per month gross sales hit an all-time top of $3.7 Billion on Sept. 4 after a gradual upward thrust in overdue July. $31 million of the present overall NFT marketplace gross sales comes from the sale of art-based property.
Virtual artwork marketplaces akin to OpenSea completed prominence right through this timeas smartly, reportedly internet hosting 98 p.c of the marketplace’s transactions via August of 2021.
Artwork sellers and museums have taken understand, and are starting to practice go well with as they practice the cash obvious on this new marketplace. Each Sotheby’s and Christie’s public sale properties have had a lot of a success NFT auctions up to now yr. Christie’s used to be the primary of the 2 to host an international public sale of an NFT.
Mojito prior to now aided Sotheby’s within the building of its new virtual NFT market, referred to as Metaverse.
Businessman and TV character Kevin O’Leary, a one-time vocal opponent to cryptocurrency-based investments, just lately stated his trust that the NFT marketplace would change into larger than Bitcoin right through an interview at the Pomp podcast.


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Even Spider-Man can’t save Toys R Us from a £2.6m loss
It may be a giant of American retailing, but the struggling UK economy saw Toys R Us plunge into the red in the latest set of accounts for its 79 British stores.
A pre-tax loss of £2.6 million in the year to 28 January 2012 was reported on a turnover of £476 million, down from a profit of £9.9 million the previous year, with directors blaming a 6.6 per cent decline in sales as well as the tough, competitive market.
Fall: US giant Toys R Us went into the red from a £9.9¿million profit in Britain
Profits were wiped out by distribution costs, administrative expenses and £11 million in interest payments.
Toys R Us stores are mainly in out-of-town retail parks, but the company has opened several temporary ‘pop-up’ stores in shopping malls to take advantage of the busy Christmas shopping season.
According to the retailer, one of the ‘must-have’ toys for Christmas is the LeapPad2, an interactive iPad-style tablet for children, which has a camera, video recorder and music player and costs about £68.
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A water slide manufacturer is suing another ride builder over allegations it stole designs for water rides built at Aquatica Orlando, Tampa’s Adventure Island and other parks.
ProSlide Technology filed a federal lawsuit this month against WhiteWater West Industries, accusing the company of “systematic infringement of ProSlide’s valuable patent rights” on water slide technology.
The lawsuits seeks unspecified damages as well as an order requiring WhiteWater to pay ProSlide for the profits made on three of its water rides and to stop selling the rides that ProSlides believes are derived from its technology.
“The tremendous popularity and commercial success of ProSlide’s patented ... technology has spawned imitators. Chief among these has been WhiteWater, which has been busy copying ProSlide’s ... design to sell knockoff saucer waterslides,” the lawsuit said.
WhiteWater declined to comment on the pending litigation, a spokesperson said Monday.
“We do, however, look forward to an opportunity to address the issues raised in the complaint. As we celebrate our 40th anniversary this week we know our global success is based on the assurance of a safe, high quality of product and service, in service of our customers’ achievements,” said Una deBoer, global marketing and strategy director, in a statement.
The lawsuit accuses WhiteWater of taking ProSlide’s technology for its design on Ray Rush, a raft slide that opened at SeaWorld’s Aquatica Orlando water park in 2018, as well as other rides at parks across the country.
“The technology at issue in this lawsuit is protected by several U.S. patents, which the U.S. Patent & Trademark Office awarded to ProSlide for its innovative waterslide designs. ProSlide takes its intellectual property rights seriously and expects others in the industry to respect those rights,” ProSlide vice president David Alexander said in a statement.
Both WhiteWater and ProSlide have headquarters in Canada, but the federal lawsuit filed in U.S. District Court’s Orlando division listed some of the Florida ties.
ProSlide said WhiteWater has promoted its products at Orlando’s International Association of Amusement Parks and Attractions Trade Show for years and that WhiteWater has a sales office in Florida.


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The results of a recently released study from the CDC confirms what many marijuana advocates have believed for a long time: that legalization doesn’t increase pot use among teens. More importantly, the study is in line with previous studies demonstrating the same thing. Unfortunately for those against marijuana legalization, the argument of increased youth consumption is no longer a valid one.
Fairness demands a closer look at the study data and what it actually reveals. Why? Because no notable increase in teen cannabis consumption following legalization does not mean teens aren’t using cannabis. Alcohol is legal in all fifty states, and we know that teens still drink.
A Gradual Decline
The study in question is the annual Youth Risk Behavior Study conducted by the CDC. It looked at risky behaviors among youth from 2011 through 2021. It notes a gradual decline in teenage marijuana consumption over the last decade.
Data shows a steep drop-off in 2020-2021, a phenomenon linked to COVID shutdowns and teens spending more time at home with their parents. But surprisingly, teen marijuana consumption did not increase in 2022, as would have been expected once COVID restrictions were lifted.
It is also interesting to note the rate of decline was greater among teenage males as compared to females. Consumption among males has fallen from 26% in 2011 to 14% in 2021. Female consumption has dropped from 20% to 18% during the same period.
The Same Across the Board
Another interesting thing the CDC study revealed is that the numbers are fairly consistent across the board. Even in states with legalized medical cannabis and recreational marijuana, the decline in teen consumption remains consistent. It is clear that legalizing marijuana at the state level doesn’t lead to increased consumption among teenagers.
Researchers lay some of the credit for that at the feet of states willing to diligently enforce age limits and ID requirements. By requiring pharmacies and dispensaries to verify customer age, they prevent marijuana sales to minors. That is good. And yet, it also illustrates why the positive numbers should be taken with a grain of salt.
Teenagers Still Drink
Let us go back to alcohol for a second. Most states prohibit alcohol sales to customers under twenty-one years of age. Some have lower drinking ages. Either way, retailers are required by law to verify customer age via a photo ID. They can be punished severely for selling alcohol to minors.
Does this prevent minors from drinking? No. Minors find other ways to get their hands on alcohol. They may steal it from their parents’ liquor cabinets. They may ask adults to buy it for them. They might even use fake IDs to buy alcohol themselves.
A teenager in Utah could not walk into a convenience store and legally buy booze. Likewise, he couldn’t visit a medical cannabis pharmacy, like Park City’s Deseret Wellness, and walk away with pot. He would be turned away after being unable to produce the proper ID and a medical cannabis card.
The Black Market Is Still There
That same teenager unable to legally buy cannabis at a pharmacy or dispensary can still buy it off the street. The black market is still there, and it’s doing quite well. We need to consider the fact that the CDC’s data could be skewed by teenagers who buy from the black market but don’t admit they use cannabis.
The data is clear in demonstrating that state legalization does not increase cannabis consumption among teenagers. But it says nothing about reducing cannabis consumption. Just because teenagers do not report using pot, it doesn’t mean they aren’t doing it.


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Since 2009, Kage‘s Basma Abu Ghazaleh has been delivering some achingly cool collections and statement wardrobe pieces to women in the region, and across the globe, too. The fashion brand has become one of the most recognised labels in the region, with a decade of success under its belt.
No better way to celebrate its 10th anniversary, Kage released a new collection for Resort 2020 and it’s all about the brand’s archives.
The 25-piece lineup includes a slew of feminine silhouettes that have taken its design cues from past collections and modernising them to create the ultimate wardrobe for the season.
“I’m so proud of Kage’s evolution, it has notably matured over time and the same can be said for me and my growth as a designer,” says Basma. “While the brands aesthetic has remained much the same, our designs have become more refined, retaining the inherent DNA of the brand. For our Resort 2020 collection, we have developed a montage of iconic looks that have been reimagined in a collection entitled, the Archive. Familiar favourites are given new life as we update them to suit today’s fashion climate. It’s a celebration of our history and its bright colours and playful designs reflect that.”
In other fashion news, discover Riccardo Tisci’s first festive campaign for Burberry.