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Our latest list of best stocks to buy features big companies you're already familiar with and some you've probably never heard of. We've got some Money Morning All-Stars that have given our readers big gains over the years but that still have room to run. And we've got a couple newcomers ready to take off.
Here's a glimpse at the stocks we'll be sharing with you today:
- One of the biggest, most expensive stocks in the world also might still be undervalued. You don't want to miss any more of its rapid-fire growth.
- A backdoor play on legal cannabis offers a range of testing and analytics products to help growers stay compliant with an ever-changing regulatory system.
- A tax software producer also has a product to capitalize on the staggering rise of the freelance workforce.
- Readers who have followed Money Morning for a long time have reaped enormous gains from one biotech firm. A new drug on the way toward FDA approval could be its next big blockbuster.
- Logistics is now a $1.5 trillion industry, and a diminishing supply of warehouse space bodes well for the full-service logistics tech leader we've picked.
Now for our five latest best stocks to buy now...
Best Stocks to Buy Now, No. 5: Just Because This Superstar Is Expensive Doesn't Mean It's Not Undervalued
As Amazon.com Inc. (NASDAQ: AMZN) shares hover around $2,000, it's worth remembering how many times the "experts" have said that the stock was overpriced or had hit its peak. That was the tune CNBC's Jim Cramer, for example, was singing last year when AMZN first crossed the $1,000 mark - half of its current price.
Money Morning Defense and Tech Specialist Michael Robinson knew better. He wrote in June 2017 that Amazon still had a long way to go.
Now he's going even further, setting his AMZN price target at $3,000 within the next three years.
That's a conservative estimate, Michael says, and Money Morning Chief Investment Strategist Keith Fitz-Gerald agrees. Keith predicts that Amazon, not Apple Inc. (NASDAQ: AAPL), will be the first company to hit a $2 trillion market cap. That's a climb that would translate to a share price of roughly $4,000.
In other words, just because a stock is expensive doesn't mean it's not still undervalued. And just because it has already enjoyed massive success doesn't mean its best days are behind it.
The Amazon cynics have been wrong over and over again for the last 20-plus years. There's no reason to think they're suddenly going to be right for the first time now.
According to Keith, Amazon's got four factors ensuring its continued success:
- Artificial Intelligence: The Echo and Echo Dot are available at very affordable prices because the company gets so much value in return. Alexa, the virtual assistant that comes with the products, tethers users to Amazon services and enables pinpoint customization between the company and the users.
- Amazon Web Services: AWS, the company's cloud services division, accounts for more than half of the company's revenue and is growing at about a 50% annual rate.
- Industry Disruption: Look for moves into healthcare and pharmacy markets, finance, and more, as Bezos's team finds ways to offer those services more efficiently and at a lower price than existing providers.
- Advertising: Speaking of disruption, Amazon is already elbowing its way into the advertising market. Advertising is largely what made Chinese counterpart Alibaba Group Holding Ltd. (NYSE: BABA) the behemoth it is today. Amazon's entry into this segment opens up enormous possibilities to add to its existing revenue streams.
So regardless of how expensive Amazon's stock looks or how long its run of success has been, the momentum right now is still pointing distinctly upward.
16 New Reasons Why You Could Mint Marijuana Millions: Cannabis stocks could be destined to break all profit records for investors this year - and we've scoured the industry to uncover four stocks to potentially lead the pack...
"Even if you can only buy one share of Amazon," Keith says, "I'd urge you to get aboard with the one stock that can get you exposure to countless billions in actual and potential growth."
Best Stocks to Buy, No. 4: This Pick-and-Shovel Play on Legal Cannabis Gives You Lots of Upside Without the Downside
There's no question that legal cannabis is a booming market. But it's a volatile one, too. In the last couple months, we've seen weed stocks on major exchanges post triple-digit gains in a matter of days - and triple-digit losses too.
You may or may not be willing to ride that rollercoaster. But regardless of whether you have a few small pot stocks in your portfolio or not, adding a stable pick-and-shovel play like our next stock is a great choice.
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PerkinElmer Inc. (NYSE: PKI) is a $10 billion company specializing in diagnostics and research for a variety of industries.
This is a great company even before we get to its role in legal cannabis. It's already gained 38% over the last 12 months on the strength of its 81 years of delivering quality products and its consistent earnings growth year after year. For the most recent quarter, Perkin's earnings per share (EPS) came in 36% higher than the year before.
Now that PerkinElmer has money coming in from the legal cannabis market, though, it's not just a great company but a must-have stock.
Cannabis legalization in giant economies like California and Canada represent an enormous opportunity for growers. But it also comes with a set of standards regarding potency, toxins, chemicals, and other factors.
Not only do growers need to meet these regulations to stay in business, but they also need to be able to adapt to constant changes in those regulations as the industry matures. That's where PerkinElmer comes in.
The Massachusetts-based company offers a range of tools that can measure various attributes of cannabis products and spot the presence of specific chemicals and impurities. These tools give growers everything they need to make sure their products are not only street legal but up to the company's own standards before they hit the market.
As this industry continues to develop, more and more clients are going to need these products to keep their operations running. And there's every reason to believe that this company will be the primary beneficiary, thanks to its well-established footprint and great operations.
"As the trend to legalize marijuana spreads across North America and then onto the rest of the world," Michael Robinson says, "PerkinElmer's presence in 130 countries stands as a great calling card."
Best Stocks to Buy, No. 3: A Rapidly Expanding Pool of Customers Is Generating Windfalls for This Virtual Accountant
Nothing is certain but death and taxes. So the top provider of tax preparation software is one of the most dependable investments you can make.
That's why Michael Robinson recommended it in July 2015. Since then it's up 116%, compared to 40% for the S&P 500.
But Intuit Inc. (NASDAQ: INTU) is much more than its wildly popular TurboTax software. Its QuickBooks software has long been a favorite of small businesses. And in 2014, it launched QuickBooks Self-Employed, tapping into an enormous and growing market.
The United States is riding an impressive 95-month job creation streak. But what's even more striking is that the freelance workforce - now accounting for $1.4 trillion annually - is growing three times faster than the overall labor force.
At this rate, according to a 2017 study by Upwork and Freelancers Union, freelancers will be a majority of the U.S. workforce by 2027.
Some of those new freelancers are making the switch out of pure entrepreneurial spirit, and some are simply adapting to economic realities. Either way, this trend puts Intuit, which already has 5.5 million small businesses and freelancers as customers, in an ideal position to serve this growing segment of the population.
QuickBooks Self-Employed is available at a very reasonable subscription price of $10 per month. It allows users to track every aspect of their finances, including mileage for work purposes, and to keep personal and business transactions separate along the way. And it can all be done seamlessly between the user's computer, tablet, and smartphone.
Upgrading to the $17-per-month package gives them TurboTax too, which is fully integrated into QuickBooks to make the user's yearly tax return a cinch. It will even calculate estimated taxes automatically over the course of the year.
Another stream of revenue is Intuit's highly popular Mint app. Available free of charge to users, Mint consolidates all their financial accounts into one easy interface. Users can keep track of bills and pay them directly through the app, set budgets, and monitor their overall financial health.
Through advertisements, consumer data, and referral services for financial institutions, Mint is part of a consumer segment that grew sales by 14% in the most recent fiscal year to $2.5 billion.
Sales for the company overall grew by 17% in the most recent quarter from the year before, and earnings per share (EPS) doubled to $0.18.
As the workforce changes over the next decade and more, Intuit is going to be one of a small number of companies prepared to reap the rewards.
"This is one of those dependable tech leaders that you can count on for the long haul," writes Michael Robinson, "to keep you squarely on the road to wealth."
Best Stocks to Buy, No. 2: This Money Morning All-Star Has Even Bigger Gains Ahead
Our next pick is another one that's already been a big winner for our readers. It's up 615% since Money Morning Executive Editor Bill Patalon recommended it in 2012, compared to just 112% for the S&P 500.
If you go back to August 2011, when Bill recommended the stock to Private Briefing subscribers, it's up an astonishing 1,153%.
We're talking about Galapagos NV (NASDAQ: GLPG). This biotech firm started in 1999 as a small joint venture between two firms from the Netherlands and Belgium. Over the last decade, it's grown into a major industry player worth nearly $6 billion.
But a new catalyst is about to push GLPG even higher.
In September, it was revealed that filgotinib, which Galapagos developed to treat arthritis, successfully completed phase 3 trials. That means it's ready to go to the FDA for approval.
What's important is that the drug was effective in treating patients who had tried other therapies without success. So filgotinib could significantly change the lives of people who suffer from stubborn cases of this ailment.
Have 28 Seconds? You Could Make $2,353. Click Here to Learn More...
Vamil Divan at Credit Suisse says there's an 80% chance filgotinib will win approval. From there, he thinks it could go on to generate as much as $2.5 billion in annual sales, making it a certified blockbuster.
But that's just the beginning. Galapagos, along with its partner Gilead Sciences Inc. (NASDAQ: GILD), is also exploring the viability of filgotinib in treating Crohn's disease and other ailments. These applications combined could make this drug the kind that can single-handedly carry a biotech company for years.
As it is, the company already has another treatment in its pipeline heading to phase 3 trials, plus three more in phase 2 trials. The illnesses treated include inflammatory diseases, idiopathic pulmonary fibrosis, and atopic dermatitis. Look for news on some of these later this year.
So if you've already enjoyed big gains on this one thanks to Bill's recommendation, you'll want to hang on a while longer. And if you haven't joined in on the fun yet, don't worry. As Bill says, Galapagos still has room to run.
Best Stocks to Buy, No. 1: Trade War or No, This "Pure Play" on the $1.5 Trillion Logistics Market Will Deliver Returns for Years
You probably don't spend much time thinking about the logistics industry - comprising all those miscellaneous processes involved in getting a product or service from the producer to the consumer - but it is a huge business.
Spending on logistics hit a record $1.5 trillion in 2017, according to a report by the Council of Supply Chain Management Professionals. That's up $250 billion from the total in 2008.
There are some giant conglomerates out there with large logistics technology divisions, such as Verizon Communications Inc. (NYSE: VZ). The problem in those cases is that logistics represents a relatively small portion of the overall enterprise, and shareholders can't pick and choose which parts of the company they want to invest in.
So we've got a pure play on logistics for you instead: Expeditors International of Washington Inc. (NASDAQ: EXPD).
Headquartered in Seattle, EXPD has 322 locations across six continents. It specializes in supply chain management for all kinds of industries, including autos, aerospace, energy, healthcare, retail, and technology.
Expeditors International works with clients to maximize productivity from order inception to delivery. That might include optimizing production, packaging, and shipment processes. Or it could mean handling shipping and customs: Expeditors has relationships with every major carrier by air, land, and sea.
Where this company really flexes its muscles, though, is in developing custom logistics software. That way, clients can take over the reins of the supply chain themselves, with an interface that works seamlessly with their specific needs.
The company boosted sales by 13.5% in 2017, up to nearly $7 billion. Its EPS for the most recent quarter rose 31.7% compared to the same quarter last year. And according to FactSet, earnings are projected to keep rising through at least 2020.
And as Michael Robinson explains, this is one company that doesn't have to worry about trade wars.
That's because warehouse space to store goods is at such a premium right now. According to CBRE Group Inc., industrial vacancies have been falling for 32 consecutive quarters.
With demand for space steadily outstripping supply, the companies tasked with moving the stock inside those spaces will have their hands full regardless of any intervention by governments in the next few years.
"Add it all up," Michael writes, "and you can see that Expeditors has the right tech tools at the right time. It's ready for a boom in shipping and logistics."
The Gains on This One $10 Stock Alone Could Earn You Enough to Retire
A paradigm-shifting technology could disrupt every major industry, and one tiny company is at the center of it all.
It recently inked four major deals... BlackRock has snatched up 29 million shares... and its technology could be adopted by millions around the globe.
Best of all, this stock trading for less than $10 could deliver a 471.9% gain for early investors.
About the Author
Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.


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As in previous years, Tulip kicked off this year with the launch of a new release of our Clienteling and Store Associate Mobility apps and demonstrated these new solutions at NRF in New York City. The timing was perfect, as the “next generation store experience” and the importance of the store associate were front and center at the event, aligning with Tulip’s focus.
Earlier this month, Tulip launched version 6.0 of our apps. One of the big themes of the release is hyper-personalization enabled by improved customer information capture tools and advanced customer filtering to create micro-target lists for communications and offers. Tulip announced a new feature called Customer Prism which allows retailers to, on the fly, create lists of customers using facets the retailer creates for their business, e.g. favorite brands, colors, styles, and other personal preferences. These customer filters and searches are the starting point for individualized associate conversations with customers with specific retail interests.
Tulip also announced a strategic partnership with Google this month. The new Tulip Advisor capabilities in version 6.0 are powered by Google Cloud infrastructure and analytic and provide associates with a personal dashboard of next best actions for client interaction automatically: who to reach out to, how, when, and why.
Tulip also launched the CRM connector for Salesforce. Using Tulip’s new Customer Capture feature, associates can capture key customer information and now merge and deduplicate with Salesforce using bi-directional sync that is GDPR compliant.
Also in the news, our CEO, Ali Asaria, was recently interviewed live on the Bloomberg TV. Ali discussed the role Tulip is playing in the retail store transformation that is occurring and gave a great overview of how our customers are using Tulip.
Lastly, if you haven’t seen it, check out our most recent momentum press release where we highlighted our new customers and the new products.
Bottom line, Tulip is proud of our 2018 accomplishments and results, excited about 2019 and looking forward to working with our partners to re-invent retail and bring intimacy back to retail, this time enhanced with mobile technology.
Read More: The Return of Intimacy in Retail – Part 1

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Descent: Underground First Multiplayer Test
Footage of the first internal test of multiplayer in Descent: Underground’s development.
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Dec 31, 2019, 6:30 am174 ptsThe hemp industry’s pivot from pilot-program experiment to national commodity kept entrepreneurs clicking to keep up with changes for the new industry. And Texas’ entry into the national hemp-producing economy was a development not to be missed. Those were among the most widely read stories for…
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Read the affiliate disclosure page to find out how can you help MSPoweruser effortlessly and without spending any money. Read more
Not even an entire year after its official launch, Discord’s Nitro games catalogue is being pulled from the service.
The news was broken in a blog post from Discord which rather matter-of-factly got straight to the point: the majority of subscribers to the Nitro subscription service just simply never played the free games that came with the membership. As such, the game catalogue will be pulled on October 15th, 2019.
Subscribers to the service can still play the games up until the set date. Any games that have been previously purchased on Discord and Nitro Game Perks will be unaffected.
This change may be surprising, especially for those who did actually play the games, and as such Discord are offering refunds for anyone who wishes to cancel their membership. If you’re affected by the change and want to cancel, you can do so by following the link here.
It should be noted that just the game catalogue is being pulled from Nitro. The subscription service will continue to exist, and its members will still be able to reap the rewards – just sans the games catalogue.
In fact, Discord is actually planning on upgrading Nitro. The $9.99 plan is currently “in the workshop” and undergoing new additions, including a freshly implemented and doubled upload size of 100mb for the $9.99 subscribers.
For more information, you can check out the official Discord blog post here. As a reminder, the Nitro games catalogue will be pulled on October 15th, 2019.


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Forget about Big Macs and Happy Meals.
Russia has a grand plan to launch its own, patriotic fast-food chain to rival Western burger joints like McDonald's and rescue its struggling farmers.
The $18-million initiative stems from brothers Nikita Mikhalkov and Andrei Konchalovsky, two of the country's most famous film directors.
Both have poured scorn on Western influence in the past and are known for their close ties to the Kremlin.
The brothers have already picked a name for their brainchild: "Let's Eat At Home!" (Edim Doma!)
The cafes would fall under the identically-named brand owned by Konchalovsky's wife, actress and cooking-show host Yulia Vysotskaya.
Andrei Vorobyov, the governor of the Moscow region, has welcomed the project.
"It's a good idea," he said. "Small businesses and chains create jobs, and the food produced on our territory is perfectly suitable for these cafes."
The deputy chairman of the regional government, Denis Butsayev, has already hailed the proposed chain as a "McDonald's killer."
The government, however, appears less enthusiastic.
It rejected the brothers' request for direct funding at a government meeting late on April 9, suggesting that the would-be entrepreneurs should instead seek funding through Russia's existing scheme to support small businesses.
Under the program, 70 percent of the sum is provided by banks under a state-guaranteed loan, with the remaining 30 percent coming from private investors.
State-controlled Sberbank has been touted as a potential lender.
Mikhalkov and Konchalovsky had reportedly called on Russian President Vladimir Putin to help secure government backing for the project in light of its "sociopolitical character."
"The goal of this project is to promote import substitution and create alternatives to Western fast-food chains," the brothers wrote in their proposal, quoted by the Kommersant daily.
According to Kommersant, Putin had personally ordered Deputy Prime Minister Arkady Dvorkovich to "examine and support" the proposal.
Putin's spokesperson, Dmitry Peskov, declined to comment on the claims but confirmed rumors of a recent meeting between Putin and Mikhalkov.
Inspired By Sanctions
Konchalovsky told Russian television on April 10 that he had been toying with the idea of opening a homegrown fast-food chain for several years.
He said the ban on Western food imports introduced by Russia last year in retaliation for sanctions over Russia's backing of separatists in eastern Ukraine had bolstered him to take action.
Hundreds of Russian farmers, he added, have also turned to his brother for guidance after his documentary films on the country's agricultural crisis were aired on national television.
The brothers want to open 41 cafes in the Moscow and Kaluga regions, all supplied by local kitchens and factories. Up to 40 percent of the menu will be made from regional produce.
Under the proposal, the chain will also cater to orphanages.
If Edim Doma! ever gets off the ground, it faces stiff competition from Western rivals.
McDonald's remains hugely popular among Russians, despite a number of recent setbacks amid deepening tensions between Russia and the United States.
The U.S. chain's decision to close its restaurant in Crimea following the region's annexation by Russia last year prompted nationalist politicians to call for the company's "eviction" from Russia.
In August, four McDonald's outlets were shut down on the orders of Russia's state consumer watchdog, including its flagship restaurant on Pushkin Square. They later reopened.
Meanwhile, bloggers have been poking fun at the EdimDoma! venture, picturing Mikhalkov with the McDonald's logo.
Mikhalkov has also been portrayed as Colonel Sanders, the face of Kentucky Fried Chicken, in a tweet that makes reference to the billion-ruble sum requested for his project and the number of meals KFC says it serves worldwide every year.
And as the new catchphrase "burnt by the bun" made the rounds on Twitter -- a wordplay on the title of Mikhalkov's Oscar-winning film Burnt By The Sun -- cartoonist Sergei Elkin portrayed Mikhalkov donning a tsar's cap in the shape of a hamburger bun.


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Not only the big storage array hardware vendors are seeing
Commvault’s revenue keeps sliding while data protection software rival Veeam makes steady gains. Coincidence, or is Veeam taking deals that Commvault used to win? Commvault's revenue of $139 million was down nine percent from last year and eight percent from the previous quarter. Software...
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Today, Commvault expanded its
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CommVault CEO Bob Hammer insists his company isn’t broken, although he has a plethora of fixes lined up.
The backup software vendor Tuesday reported rocky results for last quarter (it’s


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Students currently pursuing an academic course and looking to upgrade to Windows 8 have lady luck on their side as Microsoft announced a new Windows 8 student offer which will allow them to upgrade to Windows 8 Pro edition for just $69.99!
Starting from 1st February and until 19th March 2013, students can avail this huge discount on a Windows 8 purchase against the usual retail price of $119. General consumers will however have to pay the full retail price if they chose to purchase Windows 8 for their system.
The Windows 8 student offer can be redeemed online via Microsoft Stores and will be available in 49 additional countries. According to Microsoft,
For students, Windows 8 offers the best for work and play and with the new Start screen that makes it super easy to organize, access and find what matters most to you. With Windows 8, students can download apps from the Windows Store like Microsoft OneNote or Evernote for taking notes in class or Skype to stay connected with friends and family.
In order to be eligible for this offer, students need to have a valid e-mail address through a qualifying education or institution and a PC that currently runs a genuine copy of Windows XP (XP3), Windows Vista or Windows 7. Through this offer, a limited number of only 5 copies can be availed in a 12 month period.
For list of the available countries, check the official post.


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There is a lot riding on Jumeirah Group’s current CEO Jose Silva, as he is tasked with turning the home-grown Dubai hospitality brand into a global empire. But with 35 years in the industry with posts in France, Spain, Switzerland and Portugal during 25 years with Four Seasons Hotels & Resorts, Silva seems to be in the right place.
While the group has an impressive portfolio of 23 hotels across 12 global destinations as well a total of 100 restaurants in the UAE alone, its chief will lead its opening of over 20 hotels set for Asia-Pacific (including eight in China), Middle East (including the now-completed Jumeirah Al Naseem at Dubai’s Madinat Jumeirah) and in Europe. Since his takeover in March 2018, the group opened the first luxury “eco-conscious” resort, Jumeirah at Saadiyat Island Resort, on Saadiyat Island, Abu Dhabi. In September, it also announced the launch of the Jumeirah Nanjing in China on the banks of the Yangtze River.


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CENTERVILLE, Mass., Nov. 10, 2011 /PRNewswire/ -- UV Flu Technologies, Inc. (OTCBB: UVFT) (the "Company") is pleased to announce it has expanded its International Distribution by adding representation in Oman, and Sri Lanka, while continuing to expand its relationship with the Company's Distributor in India, Ormed Systems, a leader in medical equipment sales and services throughout India, as well as other parts of the world. The Company continues efforts in China, the Mideast, and has begun talks with representation in South America.
"The market potential for our products outside of this Country is nothing short of extraordinary," said Jack Lennon, President of UV Flu Technologies. "Indoor air pollution in other parts of the world in many locations can be hundreds of times worse than what our EPA would qualify as unhealthy. Indoor air pollution has been found to have direct links to a variety of health problems, including, but not limited to, respiratory issues such as asthma, allergies, and pneumonia, sleep problems, low energy, diabetes, and even cardiovascular problems."
"We think many other countries are farther down the learning curve with respect to the importance of indoor air quality, and India and China are two of the biggest. We plan on supporting and expanding our international efforts, while launching some huge initiatives domestically. To this end, the Company has begun evaluating its options with respect to increasing its production capabilities, and feels that the sales of its products in 2012 could be many times those of 2011," said Mr. Lennon.
Further details regarding the Company's business, acquisitions, financial reports and agreements are filed as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information, visit:
|SOURCE UV Flu Technologies, Inc.|
Copyright©2010 PR Newswire.
All rights reserved


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The cryptocurrency community is abuzz about what could prove to be a landmark event in the burgeoning digital currency world: a major upgrade — dubbed “the Merge”— of the ethereum blockchain. Crypto enthusiasts say the Merge, which went live Thursday, will greatly reduce the environmental impact of cryptocurrency mining and more broadly enhance its utility as a way to conduct financial transactions, among other uses.
But what exactly is the Merge, and how could it change the future of crypto?
What is the Merge?
Ethereum, which was launched by Canadian computer programmer Vitalik Buterin in 2015, is a blockchain (or a digital ledger) used when cryptocurrency investors buy ether. It’s one of the world’s most used blockchains, second only to the bitcoin network. There are more than 71 million crypto wallets on the ethereum blockchain today, according to the Ethereum Foundation, a group of developers who now oversee the blockchain.


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In addition, HDFC debit and credit card holders will be eligible for 10 per cent additional cash back from Friday
Starting this Friday, Apple is reducing the selling price of the latest iPhone XR by up to 22 per cent to boost sales, senior industry executives told ET.
The move is seen as a new strategy for dealing with stiff competition in the premium smartphone segment in India, where Apple is in the third position as per latest data from market trackers.
According to the executives, this is the first time Apple has reduced the selling price for its latest and flagship iPhone models. The marketing strategies the company usually apply include cashback offers, no-cost financing and exchange programmes.
The company is dropping the selling price of all the three variants of iPhone XR – the 64 GB will now be available at Rs 59,900 as compared to Rs 76,900 earlier, while the 128 GB will be sold at Rs 64,900 from Rs 81,900 earlier and the 256 GB model at Rs 74,900 from Rs 91,900 earlier.
10 per cent cashback for HDFC Customers
In addition, the company will run a limited period cashback programme from Friday on HDFC Bank cards offering 10 per cent cashback. This means that the effective price of iPhone XR (64GB model) for HDFC consumers will be Rs 53,900.
The HDFC cashback will be offered to both credit and debit card customers.
However, the sticker price or maximum retail price (MRP) of the iPhone XR in India will remain the same. Like its competitors Samsung and Xiaomi, Apple is also adopting the market operating price (MOP) strategy in India, wherein the official consumer selling price is lower than the MRP.
The latest iPhone XS was released in India in October last year.


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Best Buy CEO Hubert Joly on Tuesday renewed his call for Congress to pass the Marketplace Fairness Act, which would force online merchants to collect sales tax from customers.
“We don’t think the government should pick the winners,” he told the Economic Club of Minnesota. “We don’t think the government should subsidize Amazon and eBay.”
Asked what Best Buy’s other government affairs priorities are, he said the company has five: “Number one is e-fairness, number two is e-fairness, number three is e-fairness, number four is e-fairness and number five is e-fairness.”
Joly spoke a day after Shawn Score, the chief of U.S. retail stores for the company, stepped down after seven months in his new position. He did not mention Score’s resignation, but Matt Furman, a company spokesman, said “there’s not much more to the story.”
Shari Ballard, Best Buy’s human resources chief, will take over Score’s duties.
The change comes as Best Buy continues a turnaround program called “Renew Blue” that has been in progress for more than a year. Best Buy cut costs by $765 million last year and, in February, laid off 2,000 store managers. CEO Hubert Joly has said the restructuring would be focused on eliminating inefficiencies more than reducing workforce.
The company is coming off a difficult holiday season, the biggest sales period of the year, in which it cut prices and ate into margins to remain competitive with Amazon, Wal-Mart and other retailers. It produced weaker-than-expected results during its fourth quarter. After its stock more than tripled last year, Best Buy shares are down 36 percent so far in 2014.
Company shares were down more than 2 percent Tuesday afternoon, partly on the weakness of a new earnings outlook from H.H. Gregg.
But Joly was upbeat Tuesday, reiterating his plan for Best Buy to compete with companies like Amazon and Walmart by focusing on advice, service and convenience.
He said the electronics retailer’s stores are profitable, and 70 percent of Americans are within 15 minutes of a store.
“We are now using our stores as distribution centers,” he said. “Amazon has 60 distribution centers. We have one thousand.”


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E-commerce and the growing number of middle-class shoppers are leading to a glut of packaging waste even as landfills run full.
Creating packaging that customers can reuse is superior to breaking items down for recycling, but reusable items tend to consume more resources in their initial production.
Compostable packaging is an alternative, but it isn’t yet commercially viable on a mass scale.
Philippine President Rodrigo Duterte recently threatened war with Canada — over rubbish. Shipping containers full of waste that had been mislabelled as recyclable plastic were sitting in a port in Manila and Duterte wanted it gone. In a sign of how poorly the world is managing its ever-growing waste stream, it took the prospect of conflict before Canada agreed to take the rubbish back.
A big part of the waste crisis is the result of packaging, which the fashion industry is using ever more of in the age of online retail. In the EU, total packaging waste in 2016 amounted to nearly 87 million tonnes or about 170 kg per person. Much of it is plastic, which is often not recyclable and can take a significant toll on the environment. An estimated 42 per cent of all plastics produced, outside of those used as fibres, are used for packaging.
A growing number of fashion brands are pushing customers to reuse packaging. In the hierarchy of ways to tread more lightly on the planet, reusing materials is far superior to breaking them down for recycling.
Last year, clothing brand Toad&Co partnered with LimeLoop, a US startup that replaces cardboard boxes and disposable mailers with recycled vinyl packages. Customers can request this as a shipping option during checkout, and once the shipment arrives, they drop the empty container in the mail for return and reuse.
Toad&Co has shipped over 3,500 reusable mailers to date, at a cost that it says isn’t material to its bottom line. LimeLoop, which also counts Wearwell and Maika travel bags among its clients, claims that for every 100 shippers used, a brand saves 1,300 trees and nearly 2 million gallons of water.


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Marion Wischnewski, the sanctuary worker who adopted Rocco after he was removed from the sanctuary for his foul mouth, said that she has to check her account every day to see what he has done.
"I have to check the shopping list when I come in from work and cancel all the items he's ordered," Wischnewski told The Daily Mail.
Rocco loves to interact with the voice of Alexa and listen to music from Kings of Leon.
"They chat away to each other all day. Often I come in and there's music playing," Wischnewski told The Daily Mail.
Fortunately, none of his orders go on to be purchases thanks to a parental lock that she put on the device.


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Cooking shows. News reports. Musical performances. Tips and tricks on sports and video games.
The mishmash of live programming was meant to attract millions of viewers to the website Justin.tv and turn the young online video service into an advertising machine.
A decade later and under a different name, that vision finally appears to be taking hold.
Twitch, the video game streaming service that grew out of Justin.tv, announced Tuesday that it would begin curating a growing supply of live video related to food into a new channel. The move to highlight low-budget cooking shows and home videos about elaborate dishes comes months after Twitch launched a Creative section, aiming to draw attention to live streams from graphic designers, musicians and other artists.
Demand is pouring in. Viewership of Creative channels has doubled since the section debuted in October, according to Twitch, with about 2,000 broadcasters streaming each day.
About 5.6 million people tuned in to a marathon of Bob Ross' "The Joy of Painting" show when Creative launched. The audience could be even bigger when Twitch Food, the new around-the-clock channel, kicks off Tuesday with a four-day marathon of all 201 episodes of
Some streaming video creators, including aspiring cooking-show host Christine Ward, 29, of Laguna Hills, are so bullish that they, like many gamers before them, are quitting their day jobs to try living off online broadcasts.
Twitch's staple, which attracts 100 million viewers a month, remains its feeds of people playing video games. But the move to broaden its offerings shows how significantly timing and launch strategy can affect a start-ups's chance of success.
Twitch's initial results make a case for a start-up conquering a niche or two first rather than going mass market early on, as the company had in a previous incarnation with Justin.tv.
Justin.tv welcomed any type of nonsexual content, but the openness led to several problems. It lacked the resources to serve the varying needs of different categories of broadcasters, and commanding a loyal audience for such a wide array of content became difficult. The free-for-all also led to people streaming TV shows and other rights-protected content, which led to legal issues. And as YouTube was rising, it wasn't immediately clear to viewers or advertisers why live content was better than recorded content.
Timing played a role as well. Back when Justin.tv launched, the equipment needed to set up a video stream was not as prevalent as today. The lone bright spot was video gamers, who are often at the forefront of technology shifts.
In 2011, the Justin.tv team decided to focus on video gamers' desires by developing a new service, Twitch. Since then, smartphones and more affordable digital cameras have made it trivial to start a live stream. And advertisers are now eager to sponsor highly viewed live content online as cord-cutting diminishes TV's stature.
Amazon.com Inc. hasn't released details about Twitch's financial performance since buying the San Francisco company for about $1 billion in 2014. But last week Piper Jaffray analyst Gene Munster estimated Twitch could be worth $20 billion by 2020 -- adding as much as 8% to Amazon's value -- despite increasing competition on the gaming front from YouTube and start-ups including Kamcord, Azubu and Mobcrush. Twitch generates revenue through ads and subscription fees.
Bill Moorier, head of Twitch Creative, said he's talking to streamers across the Internet to reel them in. Growing to areas beyond gaming makes Twitch appealing to new demographic groups, including women, who can catch the attention of new advertisers, he noted.
"We start with the community and what the audience wants, and we know we will be able to monetize and give revenue back to the content creators eventually," he said.
Ward is among those testing that notion. Three weeks ago, she quit her job tutoring middle-schoolers in English and math. She now spends her days preparing for and producing five live streams each week on her CookingForNoobs channel, which about 8,000 users follow. She peppers her shows with singing and dancing routines and symbolically honors new subscribers with paper flowers in her kitchen.
Ward, who started on Twitch last July, will dig into savings over the next six months. All the while, she'll monitor whether she can survive on donations from viewers, a tiny amount of money from ads and an increasing flow of income from subscribers who can get perks like access to nonpublic streams for about $5 a month.
"It's really blown up since [Twitch] endorsed and embraced creative content in October," Ward said. "A lot of talented people came in, and it’s actually created a challenge competition-wise, but a fun challenge to see if I can climb up the ladder."
It's a long way from when a friend who'd been doing "Heroes of the Storm" gaming videos on Twitch recommended she pursue a cooking channel. He'd seen a few gamers dabble in it part-time on their own channels.
Many viewers initially reported Ward's show as inappropriate since it didn't touch on gaming, but Twitch offered a green light. A couple of viewers even gave her a combined donation of $747 soon after she started to upgrade her camera and laptop. Now, the occasional hater in the comments section is doused by a chorus of supporters.
On Tuesday, she plans to stream for eight hours as she makes bacon-basted chicken, slow-cooked beef with vegetables and a lobster dish. They're all recipes of Child, who graduated 65 years ago Tuesday from the famed Le Cordon Bleu cooking school in Paris.


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All with blonde hair and high heels, mother-and-daughter trio Cindy (mom), Ashley and Kelsey Berset are lifelong Excelsior residents. The ladies live, shop and dine in the area, and are familiar with the demographic, because frankly, they are the demographic—and that’s part of why they thought the lakeside city was a great choice for their new restaurant, The Suburban.
The Bersets decided to open a restaurant after trying out for a Food Network game show in March 2013; Cindy and Kelsey gave it their best, but ended as runners-up, and never had the opportunity to compete for the prize of a locally inspired food court restaurant in the Burnsville Shopping Center. Instead, it became an opportunity for Ashley to get involved in the project, and for the whole family to invest in a location that they cared about and knew better.
It started with the old lumber warehouse building just across the street from the Excelsior library, which had been vacant since September 2011, when Automated Building Components had moved out. When the Bersets discovered it was available, they knew they had to swoop in, even though they still weren’t set on the kind of restaurant they wanted to own. They visited the space and fell in love: The large-planked wood floors had a great vibe that they knew could only house one type of joint—a sports bar.
“When we went inside,” says Cindy, “it was just amazing, with hardwood floors and wood ceilings.”
In addition to the space being perfect for a sports bar, such a restaurant isn’t something Excelsior had seen before. The city’s restaurants feature tacos, sushi, Irish fare, coffee and pizza, but no sports bar.
“There’s really a gap in the market,” says Cindy. “There are no actual sports bars. There are restaurants with TVs, but no sports bars.”
Now that they had decided on a sports bar and a location, the Bersets needed to find capital to get the project rolling. They decided their venture might be one that they could get the community interested and involved in. Using the fundraising website Kickstarter, on July 3, 2013, they asked community members to financially support their restaurant project. By August 17, they had received the full $25,000 from 52 supporters—and The Suburban, their envisioned sports bar, became a reality.
“Just the whole interaction with the community has been amazing,” says Cindy. “This town is great. People here are super-sweet and really nice.”
The restaurant opened on April 25 after many renovations to the space and lots of time spent in test kitchens to refine the menu. The Suburban doesn’t serve its customers just an ordinary burger with cheese, says Ashley.
“There are things you wouldn’t think of putting on a burger,” she says.
Specialties include the “meet your maker” with bacon, cheddar cheese and pickled jalapenos and the picnic burger, with cheddar cheese, barbecue sauce, coleslaw and pickle.
The Bersets like a creative menu, but they are mindful as they make menu choices. There are gluten-free pizza options, plenty of salads and even a customizable burger that can fit the Paleo diet.
The trio is also conscientious about where the food is coming from. They’ve tried to stick with local vendors to ensure fresh food and to boost local economies. This includes local beer, such as picks from Lucid, Excelsior Brewery and Lake Monster Brewing, all from the western suburbs. The beef for the burgers is brought in from Peterson Farm, a Wisconsin-based company. The same beef is used at many restaurants in downtown and in Uptown Minneapolis, though The Suburban is the only western-suburb locale to use it, says Cindy. “[The cattle farmers] are so excited to start branching out.”
Says Ashley, “Our focus is urban taste in a suburban location. We understand the consumers, because we are the consumers.”
If you go:
342 Water St. Excelsior


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Prepare for an uncertain cold and flu season.
Last winter, COVID-19 measures effectively shut down the spread of cold and flu, but as we all get back to work and school, respiratory illnesses are expected to make a comeback.
While we can’t... Read More
Apparently, consumers buy more than 52 million pounds of chocolate during Valentine’s week bringing the sales of chocolate for the holiday to more than one billion dollars. To work off all those extra calories, consumers should plan on doing... Read More


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At least one victim has been reported after police say a man tampered with food at restaurants in South Lake Tahoe.
According to the South Lake Tahoe Police Department, a call was reported Sunday, Nov. 19, of possible food tampering at the Baja Fresh salsa bar, located in the “Crescent V” shopping center. Police say the suspect poured an unknown substance onto salsa.
Police said this is the same suspect who tampered with food at the Hot Wok self-serve food court on Tuesday, Nov. 15, at Raley's at 4000 Lake Tahoe Boulevard. According to police, the suspect apparently walked into the grocery store, approached the self-serve food display in the food court, and poured an unknown substance on top of the food. The suspect then walked out of the store and left the area on foot.
Managers at Baja Fresh said there was a strong chemical odor similar to bleach coming from the salsa bar.
A 12-year-old victim reported feeling sick after eating at Baja Fresh on Saturday, Nov. 19. The victim was hospitalized, where they received treatment for symptoms similar to food poisoning. The victim has since been released from the hospital.
Investigators believe the incidents are related. The suspect identified is described as a white male adult, approximately 5 feet 7 inches tall, with a thin build. Food testing is underway at the California Department of Justice and Department of Public Health laboratories. Police suspect more other restaurants may be vulnerable to similar attacks, and would like the public to be on alert for their personal safety.
If you have any information you can share with the police about these incidents or the suspect, call 530-542-6100 or Secret Witness at 530-541-6800.


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SA’s marine scalefish fishery is SA’s oldest industry. It commenced operations in 1846, with todays fishers fishing the same species and with similar fishing gear (nets and hand lines) as their ancestors.
However, with an increasing consumer emphasis on environmental performance, the fishery today faces new challenges, including fish resource sustainability and the ‘social licence’ to operate.
Feedback from the MFA website is clearly showing that broader environmental stewardship is required as consumers question a number of marine environmental issues, such as greenhouse gas emissions, protection of vulnerable habitats and, increasingly, the issue of waste generated by the Industry. This is consistent with global trends, with approximately 20 countries, including the USA, Japan, Italy, Canada, and Brazil, now having national 'zero waste' policies.
Zero-waste has also been identified by the Marine Stewardship Council (MSC, 2021) as one of the top 10 emerging trends in global fisheries.
It has also been identified by the UN as a key Sustainable Development Goal (Target 12.3) of "by 2030, halve per capita global food waste at the retail and consumer levels and reduce food losses along production and supply chains, including postharvest losses."
Despite this, we are unaware of any similar fisheries project in Australia that is addressing this whole-of-supply-chain issue.
The proposed project addresses this consumer-driven need by focussing on a reduction in waste generated by the Industry across the supply chain in three areas:
(a) underutilisation of fish caught as a by-catch,
(b) underutilisation of the whole fish for consumption
(c) non-utilisation of fish remains which are not suitable for consumption.
Only around 50% of the weight of fish currently caught by the fishery is utilised, with the remainder being discarded either as by-catch or fish parts, such as those remaining after filleting. This is consistent with MSC and FAO estimates across global fisheries.
Achieving a ‘zero-waste’ industry would therefore address an important emerging issue in the fishery, leading to improved consumer acceptance of the Industry's 'social licence'.


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Later this year, Facebook will show off a more compact, wireless version of the Oculus headset. This device will be lighter than the Samsung Gear VR headset but it does not seem like it will replace the Oculus Rift.
Instead, this $200 device seems to be designed to bridge the gap between the cheap headsets that turn smartphones into VR headsets and the products for high-end gaming rigs. The $200 Oculus will work without a connection to a PC or phone and is intended more as an on-the-go device.
In terms of computing power, the $200 Oculus headset promises to be better than the Samsung Gear VR but unlike the Rift, it will not include features like positional tracking technology.
Like current Oculus products, the new headset will be geared toward immersive gaming, watching video and social networking, said the people who asked not to be named to discuss a private matter. Code-named “Pacific,” the device resembles a more compact version of the Rift and will be lighter than Samsung’s Gear VR headset, one of the people said. The device’s design and features aren’t finalized and could still change, but the idea is that someone will be able to pull the headset out of their bag and watch movies on a flight just the way you can now with a phone or tablet.At the moment, Facebook is doing a $399 summer sale for the Oculus Rift + Touch controller.
The Oculus Rift


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6 companies, including Nykaa and Adani Wilmar, get nod for IPOs. Details here
As many as six companies—Nykaa, Adani Wilmar and Star Health & Allied Insurance, Penna Cement Industries, Latent View Analytics and Sigachi Industries—have received clearance from the Securities and Exchange Board of India (Sebi) to launch initial public offerings (IPOs).
According to an update with the capital markets regulator on Monday, these six companies filed their preliminary IPO papers with Sebi between May and August and got its "observations" or its nod between October 11 and October 14 to float the IPOs.
The IPO of FSN E-Commerce Ventures Ltd, which runs an online marketplace for beauty and wellness products Nykaa, comprises a fresh issue of equity shares worth ₹525 crore and an offer for sale (OFS) of 43,111,670 equity shares by a promoter and existing shareholders.
Promoter Sanjay Nayar Family Trust and shareholders, TPG Growth IV SF Pte Ltd, Lighthouse India Fund III, Lighthouse India III Employee Trust, Yogesh Agencies & Investments, J M Financial and Investment Consultancy Services and some individual shareholders are selling shares in the OFS.
News agency PTI reported citing people familiar with the matter that the Nykaa IPO is expected to fetch ₹3,500-4,000 crore valuing the company in the range of $5 billion to $5.5 billion.
Adani Wilmar IPO will be in form of a fresh issue of equity shares for an amount of up to ₹4,500 crore (approximately $600 million) and there will not be any secondary offering. Adani Wilmar, which sells cooking oils under the Fortune brand, is a 50:50 joint venture company between the Adani group and the Wilmar group.
Star Health and Allied Insurance Company's IPO comprises a fresh issue of equity shares worth ₹2,000 crore and an offer for sale of up to 60,104,677 equity shares by promoters and existing shareholders, according to the draft red herring prospectus (DRHP).
Those offering shares through the offer for sale are promoter and promoter group Safecrop Investments India LLP, Konark Trust, MMPL Trust and existing investors Apis Growth 6 Ltd, Mio IV Star, University of Notre Dame Du Lac, Mio Star, ROC Capital Pty Ltd, Venkatasamy Jagannathan, Sai Satish and Berjis Minoo Desai.
Star Health, a leading private health insurer in the country, is owned by a consortium of investors like Westbridge Capital and Rakesh Jhunjhunwala.
Penna Cement's IPO has a fresh issue of equity shares worth ₹1,300 crore and an offer for sale of up to ₹250 crore by the promoter, as per the DRHP. Latent View Analytics' IPO also consists of a fresh issue of equity shares worth ₹474 crore. It also has an offer of sale of equity shares to the tune of ₹126 crore by a promoter and existing shareholders.
Promoter Adugudi Viswanathan Venkatraman will offload shares worth ₹60.14 crore, shareholder Ramesh Hariharan will sell ₹35 crore shares and Gopinath Koteeswaran will offload ₹23.52 crore shares among others.
Sigachi Industries IPO will see a sale of up to 76.95 lakh equity shares. Sigachi is a manufacturer of cellulose-based excipient.
(With agency inputs)


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The survey shows that UK financial services continue to enjoy an improving outlook, with economic growth stimulating confidence, demand and volumes of business. Most sectors expect to increase their headcount, although banking respondents are considering staffing reductions.
Buoyed by the recovery, companies are boosting their plans for customer acquisition and domestic market share growth. But there are signs that competition will bring its own challenges. In particular, increasing concern about the threat from new entrants and companies outside financial services suggest that pricing and profitability could come under renewed pressure.
Improvements in distribution capabilities and data analytics are seen as particularly important to future growth.
The CBI/PwC Financial Services Survey is a quarterly trends report that discusses the health, perceptions and plans of the UK financial services industry.


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MIAMI—Apple device management platform vendor Addigy has unveiled a wide range of new features for its cloud-based services, including single sign-on capabilities, LANCache peer-to-peer caching and expanded mobile device management (MDM) services.
The new features, which were announced here at the Addigy 2019 Partner Summit on March 7, also include an Addigy Community Center built into the management portal that allows developers to seek and share scripts to improve their device management deployments, as well as access to the Addigy Academy, a comprehensive online training resource for IT administrators.
Jason Dettbarn, the CEO of Addigy, told eWEEK that the new capabilities, which are available immediately, will give IT administrators for SMBs and for larger enterprises more of the tools they need to bolster their services to business users of Apple devices.
“We can go in and a customer’s Windows and network administrators can easily use our tools” to manage the Apple devices used by workers, said Dettbarn. “We just want traditional IT workers to get comfortable with Macs,” even when they also have users running Windows machines. “This gives them a cloud infrastructure to do that.”
Besides, he added, Apple needs to expand its allure with enterprise and small business users because the company’s highly popular and revenue-leading iPhones have been seeing sales declines and will no longer take the company to the next level in the future.
“We’ve got a good road ahead and they are going to need a lot of help, whether they admit it or not,” he said. “Addigy came to fill a niche with a simpler, easier platform that’s cloud-based and is turnkey to replace existing products out there that are harder to use.”
Instead of running a large enterprise application on a server in a data center, Addigy created its cloud offering to give users a different experience, said Dettbarn.
“We’re not trying to sell this big, siloed enterprise tool,” he said. “At the end of the day it’s speed and simplicity that brings in new customers. It’s cloud-based versus application-based. I think that’s what it comes down to for customers.”
The new single sign-on feature was accomplished by integrating SSO from the Google G Suite and from Jumpcloud into the Addigy platform, giving users the ability to securely log into Addigy with a single click. Integration with Jumpcloud also allows users inside of the Jumpcloud Cloud Directory to directly access Addigy.
The LANCache peer-to-peer caching feature provides high-availability peer-to-peer file caching within corporate networks, which will reduce internet bandwidth consumption and decrease file access and distribution time, according to Addigy.
The expanded MDM capabilities include Login Items, which gives administrators control over the applications and scripts that deploy when a user logs in; Addigy Finder, which allows admins to configure the appearance and functionality of the finder application; and Dock, which allows for the customization of the dock for end users, as well as the restriction of their ability to change it. In addition, Addigy’s Privacy Preferences Policy Control is now included for managing devices with Mojave (10.14).
The new Addigy Community Center function allows administrators to share their custom device facts and scripts with the entire Addigy partner community, while also offering a resource for finding useful scripts they may need which were created by others. All submitted facts and scripts are reviewed to ensure compliance with established guidelines and published within the Web-based community center, according to Addigy, and administrators and contributors can post comments on any community script or fact to provide direct feedback to its related author.
Other updates include user interface (UI) improvements to streamline the user experience and the launch of Addigy Academy, which provides online training resources to help administrators quickly learn about and use the Addigy platform. As part of the Addigy Academy, a formal training and certification program has been created to validate administrator knowledge, expertise and mastery level of the platform.
The Addigy platform provides asset management, monitoring, reporting, remote command execution, customer and user management, real-time communications and more for the management of Apple devices in workplaces small to large.
Gene Munster, an analyst with Loup Ventures, told eWEEK that Apple’s moves to seek more business in enterprises will be important for companies like Addigy.
“This is a huge opportunity around what’s going on with Apple,” said Munster. “Apple Mac market share in corporate computing is going to increase and Apple is going to put some, but still limited, resources behind the enterprise.”
Addigy’s recent growth in the Apple device management marketplace since going into business four years ago is a testament to the opportunities that exist in the space, said Munster.
The availability of a cloud-based platform that makes it easier for businesses to deploy and manage their Apple devices is attractive to business IT admins and VARs and service providers, he said.
“I’m not surprised that there are more SMBs using Macs today,” said Munster. “I’m surprised it took this long.”


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Recently, animal-free dairy proteins have entered the marketplace as ingredients in a variety of food products, including milk, ice cream, and cake mix. To date, these products have featured Perfect Day’s synbio animal-free whey proteins. However, Perfect Day is not the only company developing these synbio proteins, which are produced using genetically modified microorganisms in a process often referred to as precision fermentation. It’s important to note that all products of new genetic engineering techniques, including synbio (aka precision fermentation), are defined as GMOs by the Project’s Standard.
According to a recent report by the Farm Animal Investment Risk and Return (FAIRR) Initiative, fermentation startups raked in more than $1.4B in 2021. So, further growth and expansion in the marketplace is anticipated. Below is a brief round-up of some of the other companies that are actively pursuing the development of synbio animal-free dairy proteins.
Imagindairy, an Israeli precision fermentation company, is using its proprietary synthetic biology platform to produce animal-free milk proteins. Imagindairy completed a $13M seed funding round in 2021 and then recently brought in an additional $15M in an extended seed round, for a total of $28M. The company expects to launch its animal-free milk proteins by 2023, focusing on the B2B market, with the help of strategic collaborations.
New Culture is developing animal-free dairy proteins – specifically casein proteins – in order to create animal-free cheese. In late 2021, the company raised $25M in a Series A funding round. New Culture’s goal is to release its first product, mozzarella, in select pizzerias in 2022, with wider distribution in 2023. The company has reportedly established a number of partnerships with unnamed entities to help streamline the entry of its products into the marketplace.
Change Foods is also focusing on animal-free casein, the dairy protein that provides the melting properties of cheese, as well as inputs such as lipids and aromatic compounds. The company recently completed an extended seed funding round, securing $12M, bringing their total funding to $15.3M. Change Foods is exploring the potential for partnerships in the retail and food service industries. The company plans to launch its first product in 2023.
Formo (formerly known as Legendairy Foods) is also using precision fermentation to create animal-free dairy proteins. Located in Berlin, Germany, the company is touted as being Europe’s first developer of animal-free dairy products. In the fall of 2021, Formo closed a Series A funding round that raised $50M, which was identified as a record for a European food technology company. The money is earmarked for the construction of a pilot plant and the fast-tracking of commercial production. The focus of the company is on cheese.
Remilk, another Israeli developer of synbio animal-free dairy proteins, is building what has been referred to as the world’s largest full-scale precision fermentation facility. The announcement followed the close of the company’s recent $120M Series B Funding round. The facility will be located in Kalundborg, Denmark; and Remilk anticipates that when the 750,000-sq-ft facility is completed, it will generate dairy proteins equivalent to the amount produced by 500 dairy cows. A target product release date has not been announced.
The Non-GMO Project’s Standard defines all crops and products developed using biotechnology, including new gene-editing techniques, as GMOs. We share this information to further one of the Project’s primary goals of creating greater transparency in the supply chain, ensuring you have the information you need to make the best choices for you, your brand, and your family.
Please note that the information herein is for general informational purposes only and is based on the linked sources above.


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AutoGuide News Blog
The AutoGuide News Blog is your source for breaking stories from the auto industry. Delivering news immediately, the AutoGuide Blog is constantly updated with the latest information, photos and video from manufacturers, auto shows, the aftermarket and professional racing.
The other star of the Subaru booth is decidedly less ostentatious than Travis Pastrana’s hillclimb special, but has an equally impressive motorsports pedigree.
This STi was driven by legendary rally driver Tommi Makinen, who set a production sedan record of 7:55 around Germany’s famed Nurburgring course. While not everyone agrees that Nurburgring times matter all that much, it’s nice to see a bit of Subaru history brought to SEMA.
Gallery: Subaru Impreza STI Nurburgring
Subaru has announced its lineup of booth cars for the 2010 SEMA Show, with center stage going to the record setting ‘Fastest STI Ever.’ Back in June Subaru announced that this test mule for the new 2011 WRX STI lapped the Nürburgring in just 7:55 – a total of 4 seconds faster than the Cadillac CTS-V (despite having almost half the horsepower). It didn’t hurt that the car was piloted by Tommi Makinen either.
Debuting alongside the Fastest STI will be a host of other STIs, including Travis Pastrana’s Mount Washington record setting STI race car, two tuner cars (one by Kicker Audio and one by K&N Performance), and an official in-house project car: the Get More G’s Subaru Performance Tuning WRX STI 2010.
Joining this lineup will be Jamarri Whiteside’s 2006 WRX STI. Who’s Jamarri Whiteside? Well, his WRX won Best of Show at Subiefest this year.
Subaru will also be holding an autograph session with SRT USA drivers Travis Pastrana and Dave Mirra, plus four-time World Rally Champion Tommi Makinen will also be in attendance.
GALLERY: Fastest STI Ever
GALLERY: Travis Pastrana’s Mount Washinton Record Setting STI
Official release after the jump:
According to a recent report by Car & Driver, the 2011 Subaru Impreza WRX STI sedan is three years late to the party for a number of reasons. Initially, Subaru decided to focus its efforts on the hatchback body style for the current generation STI because of advantages this body shape would provide their WRC rally cars (eg. shorter rear overhang, making it easier to slide sidways through tight spaces).
When Subaru abruptly ended its factory-backed WRC program in 2008, dealerships were left with a 5-door hatchback body style that wasn’t able to win buyers with a link to the car’s appearance in the WRC. This opened the door for Subaru to begin developing a 4-door sedan version, a body shape STI buyers have long associated with this ultimate Subaru thanks to the WRC success of drivers like Colin McRae, Richard Burns and Peter Solberg. We’ve always loved hot hatches, but we have to admit that the STI just looks “right” with a sedan trunk and a big obnoxious wing mounted on it.
Returning to the sedan body style offers more than just improved looks though. Subaru claims the sedan has 5 percent less drag than the hatchback, allowing it to reach a higher top speed. Subaru says the sedan should be marginally lighter than the hatch, too.
Interestingly, Subaru hired 4-time WRC Champion Tommi Makinen to test drive the new STI sedan around the Nurburgring, despite his championships all coming with rival Mitsubishi. Nevertheless, the combination of a rally racing legend and the new STI sedan made for the fastest Ring lap time ever recorded by a factory-stock STI. For a little history on the STI’s development at the Ring and an in-depth look at the new STI sedan, check out the video after the jump.
GALLERY: 2011 Subaru WRX STI Sedan Nurburgring Record
[Source: Car & Driver]
Many, many people were injured in the making of this film
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As a people the Finns love Rally car racing. They love watching it (especially when they’re watching famous native drivers like Marcus Grönholm or Tommi Mäkinen) and they love to get involved. They particularly like to drive… and crash. The above YouTube video compilation is made up entirely of Finnish rally car drivers slamming into pretty much anything from rocks, to trees and getting a lot of air in the process.
And the best part is, unlike every other such video on YouTube, there’s no Linkin Park soundtrack – just the sound of crushing metal.
Many, many people were harmed in the making of this video.


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Another fashion brand has been condemned for its stance in ongoing human rights abuses committed against Palestinians.
Social media users are now calling for boycotting fast-fashion giant Zara after Vanessa Perilman, the head designer for the retailer’s women’s department, allegedly made racist comments earlier this week about Palestinians while justifying Israel’s actions.
Perilman made the comments in response to Palestinian model Qaher Harhash’s Instagram stories about the injustices his people suffer under the Israeli occupation.
“So your point is that you are trying to show the world that Israel is a horrible evil country that does terrible things to Palestinians? Omg I want to vomit. This is so unfair and such lies,” Perilman wrote, according to a screenshot shared by the Palestinian model.
“Maybe if your people were educated then they wouldn’t blow up hospitals and schools that Israel helped to pay for in Gaza,” she added.
Vanessa Perliman a head designer at Zara DM’d a young Palestinian model this racist garbage and when she was called out gave a lukewarm apology before deleting all her social media. I emailed Zara to demand that disciplinary action be taken and this was their dismal response. pic.twitter.com/eCJ6FUei2u
— Nooran A. (@nooranhamdan) June 11, 2021
Perilman went on to portray Palestinian parents and their children as the perpetrators of violence in the occupied land, saying that Israelis “do not teach their children to throw stones”.
Meanwhile, Israel killed over 60 children in its latest offensive in Gaza while continuing to randomly arrest minors.
Shortly after the message was shared, Perilman directly messaged the Palestinian model to say she was receiving “death threats” while continuing to defend her statements and saying that she is “not ignorant”.
The designer later deleted her Instagram account and other social media pages following the backlash, with many filing complaints to Zara for the statements made by Perilman.
While Zara has made no official statement regarding Perilman’s message, it responded to email complaints by saying that the brand launched an internal investigation into the incident.
“From what we know through our research, her immediate and spontaneous apology was accepted and so the misunderstanding was clarified and closed on Wednesday,” read an email response from Zara to Palestinian writer Nooran Hamdan.
“It was obvious she apologised because she felt threatened by people messaging her and calling out her ignorance,” Harhash wrote on Instagram on Sunday, confirming that Zara did not fire Perilman.
Instead, Harhash was reportedly asked by the high-end brand to share an apology written by Perilman, which he declined to do so.
“If Zara wants to make a statement with me, the statement needs to say that they stand with indigenous people and are against what is happening in Chinese concentration camps in Xinjiang. They also need to address… Islamophobia,” said Harhash.
“When certain fashion designers said anti-Semitic things, they were fired from their jobs,” he added.
Fashion industry stance
Earlier this month, high-end fashion brand Louis Vuitton’s [LV] was criticised by the public for its “exploitatve” $705 Keffiyeh.
LV’s “Monogram Keffieh stole” provided a “modern” twist to the traditional Palestinian Keffiyeh, imprinted with the brand’s logo in place of the original pattern.
The fashion statement was described as a complete erasure of the essence of the traditional, political icon which has shaped an identity for decades, while exploiting the latest global movement to fight for Palestinians’ rights.
Its choice of colours – like the Israeli flag, blue and white – generated many to question the intention behind it.
Similarly, Fendi released its own version for $890, which also received a wide public condemnation.
In sports, pro-Palestine advocates in Qatar and beyond have been calling for the boycott of sportswear fashion brand Puma as it is the only international sponsor of the Israel Football Association [IFA].
Six of the IFA’s clubs are located in Israeli settlements in the West Bank, which enables their clubs to play their games on unlawfully seized lands from Palestinians, who are prohibited from entering to participate in any sporting activity.
Locally, Qatar Youth Opposed to Normalisation [QAYON], an independent pro-Palestinian youth body, took action against the global sportswear manufacturer following the deadly Israeli aggression against Palestinians left over 250 dead.
“[Puma] is involved in supporting the crimes of the occupying Zionist entity. This is exemplified by its sponsorship of the Football Association, which represents the occupation, and of a number of Zionist entity’s clubs that practice their activities in the settlements built on the occupied Palestinian territories,” said QAYON in the latter.
“Puma is an example of a company operating in the interest of an occupying entity,” added the group’s statement.


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Apple has won its preliminary junction after U.S District Judge Lucy Koh approved it.
“Although Samsung has a right to compete, it does not have a right to compete unfairly, by flooding the market with infringing products,”Koh said on Tuesday.
Apple filed a motion for a preliminary injunction in May 2012, claiming Samsung’s Galaxy Tab 10.1 infringes on an i Pad-related patent. Apple also filed a similar motion against Samsung’s Galaxy S III in June.
Question is what is Apple upto ? Is it because Samsung Tab is a threat to the Apple’s i Pad and the iPhone 4s.


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Who are you looking forward to hearing from?
ConnectIT 2021 is coming to your screens next month with unprecedented access to some of our leading vendors. From Tuesday 19 until Friday 22 October, our ConnectIT expert speakers will be deep-diving into innovation, automation and acceleration as the world continues to adapt to remote working.
We’re delighted to share our 2021 speaker line-up which is looking stronger than ever before with expert presentations coming from some of the leading players in the industry, including; Vast – Bamboo, Proofpoint, Turbonomic, Kasten by Veeam, Veritas, Check Point, VMware Tanzu, IBM, Dell EMC, Sophos, McAfee, Acutest, LogPoint and VMware.
But who are the speakers behind the topics? We’d like to introduce you to some of the experts and industry leaders behind our jam-packed ConnectIT agenda.


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People certainly haven't been afraid to try and reinvent the umbrella over the years. There was the solar-powered Booster Brolly
, the windproof Rainshader
and the lopsided Rain Shield
, just to name a few. But now a team of Chinese designers is looking to do away with the awkward metal poles and canopy entirely, relying instead on a "force field" of air to keep you nice and dry.
There have been several attempts to improve upon the basic umbrella in recent years – the Rain Shield
, which offers shelter from the wind; the Air umbrella
, which uses a fan to stop the rain; and Nubrella
, which is worn like a space helmet. Now, we have the smartphone-connected Kisha.
Nobody likes getting rained on while cycling, yet most of us probably aren’t quite ready to shell out for an enclosed velomobile
, either. That’s why Swiss company Allnew recently introduced Dryve – it’s a flexible, detachable rain cover for bikes.
When we complain about the rain, other people will often say "Yeah, but it's good for the plants." Well, thanks to a microturbine-based system created by three students from the Technological University of Mexico, it's now also being used to generate electricity for use in low-income homes.
Windshield wipers are life-savers, but also can drive one to distraction with their incessant streaking and chattering. Well, the tyranny of the wipers may soon be over. McLaren Automotive’s chief designer Frank Stephenson told The Sunday Times that the performance motoring company is investigating the use of "ultrasonic force fields" to replace windshield wipers in automobiles. While Stephenson referred to a military source for McLaren's tech, there appears to be very little public information on how such force fields might clean a windshield during a storm, so I'm taking a look at the patent history to see how this might be accomplished.
Rain gauges are generally pretty accurate at measuring the amount of precipitation that has fallen at their location, but they can't be everywhere. This means that average rainfall figures for a region could be inaccurate, if considerably more or less rain has been falling in unmonitored areas. Cars, however, are just about everywhere that there are roads. With that in mind, researchers from Germany's University of Hanover are looking at using them
to tell us how much water is coming from the sky.
We’ve seen a bicycle mudguard that detaches from the bike
and folds up when not in use, along with one that stays attached but rolls up
when not needed. Created by Slovenian product designer Jurij Lozić, the Musguard offers features of both – it’s easy to put on and take off, and rolls up for stowage in a pack or pocket.
Although there are already plenty of good bicycle fenders out there, some people don’t like the way they rattle around, while others think that they detract from the looks of the bike. One option is to use something like the QuickFix
, which is a fold-flat rear mudguard that attaches to the frame in seconds. The Plume, however, takes a different approach – it’s a mudguard that recoils like a metal tape measure when not in use.
The core design of the humble umbrella hasn't changed in centuries. While it works extremely well, very few people would consider the traditional umbrella to be perfect, which presents inventive designers with several problems in need of solutions. Rain Shield aims to solve several of these problems in one innovative hit.
Driving at night in falling rain or snow can be treacherous, but not just because the asphalt is slippery – visibility is also greatly reduced, as the driver’s view of the road ahead is obscured by brightly headlight-lit raindrops or snowflakes. In the future, however, that may not be so much of a problem. A team led by Carnegie Mellon University’s Prof. Srinivasa Narasimhan has developed an experimental headlight system that renders most foreground precipitation virtually invisible, while still adequately illuminating the road beyond.


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Digital TV News: Digital UK
Multiperiod DASH and PlayReady SL3000 added to HbbTV reference application
Jun 20, 2022 – The HbbTV Association has announced additions to its DASH DRM Reference Application: multiperiod DASH, as may result from server-side ad insertion (SSAI); and PlayReady SL3000, as is being required more and more by US content providers.
News categories: HbbTV Association, Content Distribution, Digital TV, Europe, HbbTV, Streaming, Worldwide
Channel 5 joins Digital UK
Dec 20, 2021 – Channel 5 has joined Digital UK, alongside BBC, ITV and Channel 4. The four public service broadcasters have entered into a new Digital UK members' agreement, marking the first time that the venture has been wholly owned by all four PSBs.
News categories: Digital UK, ViacomCBS, Channel 5, Caroline Thomson, Sarah Rose, Digital TV, Terrestrial, UK
UK's DTG releases D-Book 12.6
Oct 28, 2021 – The DTG has announced the release of its D-Book 12.6. Previously optional, support for HbbTV now becomes mandatory in the latest version, as the transition away from MHEG continues in the UK.
News categories: DTG, HbbTV Association, Richard Lindsay-Davies, Vincent Grivet, Content Distribution, Digital TV, HbbTV, Set Top Box, Smart TV, Terrestrial, UK
BBC, ITV and Channel 4 plan to integrate Digital UK and Freesat
Feb 10, 2021 – The BBC, ITV and Channel 4 plan to integrate Digital UK, the joint venture which facilitates the provision of Freeview TV, with Freesat, which offers access to the UK's subscription-free satellite TV service.
News categories: Digital UK, Freesat, Jonathan Thompson, Alistair Thom, Content Distribution, Digital TV, Satellite, Set Top Box, Smart TV, Terrestrial, UK
Freeview Play launches on Amazon Fire TV Edition
Oct 12, 2020 – Freeview Play is launching on selected Fire TV Edition TVs, thanks to an agreement between Digital UK and Amazon. Fire TV Edition TVs with Freeview Play will be launching later this year.
News categories: Digital UK, Amazon, Jonathan Thompson, Emma Gilmartin, Digital TV, Middleware, Smart TV, Terrestrial, UK
Arqiva supports Freeview Play metadata migration to the Cloud
Jul 27, 2020 – Arqiva has created a cloud-based metadata management system for Digital UK. The system supports the migration of the Freeview Play service information platform to a highly scalable public cloud infrastructure.
News categories: Arqiva, Digital UK, Laurie Patten, James Jackson, Big Data, Digital TV, UK
Freeview Play coming to Android TV
Mar 4, 2020 – Freeview Play is coming to Android TV, thanks to an agreement between Freeview and Google. The viewer experience has been developed by the organisations to ensure both prominence and discoverability for public service and advertising funded television.
News categories: Digital UK, Android, Jonathan Thompson, Shalini Govil-pai, Apps, Digital TV, Smart TV, Terrestrial, UK
SERAPHIC and CVTE offer customisable Freeview Play 4K TV solution
Jun 14, 2019 – CVTE has worked with SERAPHIC to provide a Freeview Play compliant 4K TV solution for smart TV brands targeting the UK market. CVTE and SERAPHIC together offer a customized UI for the TV brands and help them deliver competitive Freeview Play products.
News categories: SERAPHIC, CVTE, Xinwen Xue, Ziyuan Zhong, Digital TV, HbbTV, Smart TV, UK, UX
Freeview Play devices sold in UK reach five million
Dec 19, 2018 – Freeview and Digital UK have announced that the total number of Freeview Play devices sold in the UK has now surpassed five million. Freeview Play was launched in 2015 to provide viewers of the UK’s favourite TV platform with access to live, catch up and on-demand programming.
News categories: Digital UK, Freeview, Jonathan Thompson, Digital TV, Set Top Box, Terrestrial, UK
- Paramount+ arrives in Germany, Austria, and Switzerland
- Nordic streaming customers open to subscriptions with ads
- Frndly TV exceeds 700,000 subscribers
- Pixalate releases November 2022 CTV app spoofing report
- Pixalate releases Q3 2022 SSP market share rankings
- SMPTE publishes guide to ontologies and semantics for media into the cloud
- SeaChange to power streaming for FOX Sports Mexico
- Limited growth for APAC ex-China pay-TV revenues to 2027
- Shahid streaming platform now available on KONKA Smart TVs
- JPIX partners with Cisco and Qwilt for streaming delivery in Japan
- ZTE helps América Móvil migrate from AOSP to Android TV
- Veira Group starts production of webOS Hub 2.0 Smart TVs
- NextGen TV launched in Champaign and Springfield-Decatur
- Innovid integrates Kinetiq ad-occurrence data
- TF1 implements Irdeto Control to protect World Cup streams
- Premium online video rebounds in Southeast Asia
- Magyar Telekom selects ThinkAnalytics for content discovery and targeted promotions
- NextGen TV launches on seven local TV stations in Birmingham, AL
- Helwa TV channel launches on Arabsat's BADR-6
- Discovery+ launches on DIRECTV and DIRECTV STREAM


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People often get caught up in year-over-year performance improvements when looking at chips, but while there is a small percentage of Apple iPhone customers who upgrade every year and some more users who upgrade every two years due to upgrade plans, the vast majority of consumers upgrade every 3-4 years.
I thought it would be interesting to look at some basic iPhone benchmarks through the years and look at how much performance improvement happens every four years.
Going back to iPhone 5s, Apple has averaged 133% performance increases every four years. Most interesting, for this iPhone 13 cycle, are those Apple customers coming from an iPhone X or Xs are going to see a 91% performance increase… Those customers upgrading every 3-4 years, which is the norm, would see between 80-91% performance increases during their refresh cycles. Apple still has a large current installed base of iPhone 8, X, and Xs smartphones which I believe will lead the iPhone 13 cycle. Those customers are up for a huge upgrade in their total iPhone experience.
As I benchmarked the A15 Bionic in different ways and pondered how Apple spends its transistor budget with each A-series chip cycle, an interesting shift emerged for iPhone 13. Going back to how Apple spends their transistor budget on features, not necessarily performance, for the A15, Apple looks to have had the most GPU gains YoY since the A9. For the past five years, Apple has had an average of 19% GPU gains YoY but for the A15 Bionic, Apple has increased GPU performance by 52%.
This intentional increase in GPU performance over CPU performance speaks to the more graphically intense features Apple had in mind for iPhone 13 that is demonstrated in things like macro photography, macro video, and Cinematic Mode. Developers also now have a dramatically increased GPU at their disposal to create new app experiences around and can leverage new augmented reality techniques, visual computing and AI, and more.
MacDailyNews Take: Read more, including Ben’s take on iPhone 13 Pro macro photography – along with his own photo examples – here.


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We’re approaching one year since Microsoft announced its acquisition of Activision Blizzard. The company is still waiting on final verification so that it can go through with the deal, and we expect this to continue for several more months. However, what we know now is that Phil Spencer wants to keep Call of Duty on the PlayStation platform.
This was one of the main concerns surrounding this acquisition, as Call of Duty is one of the biggest game franchises in the world. We were all wondering if it would become an Xbox exclusive. While we had news that Microsoft and Sony agreed to three additional Call of Duty games on PlayStation, it appears that this might not be the case.
Phil Spencer wants to keep Call of Duty on PlayStation
The Verge recently did an interview with Xbox gaming CEO Phil Spencer, and a major focus of the interview was on what Microsoft plans to do with Call of Duty. During the interview, Spencer talked about how the company really plans on treating the franchise.
What we can tell, at least from Phil Spencer’s mouth, is that the company does not want to take Call of Duty away from PlayStation at all. This is even after three more Call of Duty games are released. He previously made a statement saying that Call of Duty will be on PlayStation for as long as there’s a PlayStation. That gives us high hopes.
This problem stems from a misconception
One issue that Spencer points to is the misconception that many people have. At the moment, Sony and Microsoft don’t have a multi-year deal to keep Call of Duty on PlayStation, and that’s what gets people worried. And, Spencer mentioned this in the interview. “There seems to be some notion that you have to have a long-term structure in order to continue to support… other platforms.”
And, that’s true! People expect there to be a textbook-thick contract outlining a specific multi-year deal. That’s absolutely justified, however. Having this stuff in writing is reassuring.
However, Spencer says that they don’t need a multi-year deal nor a contract that states that Call of Duty will be on PlayStation “forever”.
Spencer cites another acquired Microsoft property to put people at ease
During the interview, he used Minecraft as an example. The massive game has been under Microsoft’s thumb for nearly a decade. However, Minecraft has made its way to platforms such as the PlayStation 3, PlayStation 4, Nintendo Wii U, Nintendo Switch, and a boatload more. Microsoft does not have multi-year deals with other companies to keep Minecraft on other devices.
Spencer stated that that’s the model that Microsoft wants to use for Call of Duty. It seems that Spencer wants to keep Call of Duty on PlayStation unconditionally, and the company would even be open to Call of Duty coming on to the Nintendo Switch. However, that’s not too likely.
One thing that Phil Spencer said really says it all. He is more worried about the customers than the competition. Bringing Call of Duty exclusively over to Xbox’s camp will negatively impact players. Tons of PlayStation customers play and love Call of Duty, so that’s why it will remain on that platform.


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Regulate have sealed off Place Vendome in central Paris after a deliverance van was left abandoned.
The authorities are ensuring the area is safe and it continues to be blocked off.
People compressed by to the location have taken to Twitter to warn others to avoid the stretch.
According to one French source, a delivery lorry has been abandoned at the site.
Area Vendome is a square in the 1st arrondissement in Paris and is a popular location for shopping and restaurants.
A exception outside the Ministry of Justice was disrupted because of the bomb alert.
Peep User Meryl said: “I hope that Place Vendome is a faulty alarm.”
Paris is on high alert after the country has been hit by different terrorist attacks in the past year.
Yesterday, France remembered the 130 suckers of the Paris terror attacks that caused devastation in the city two years ago.


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H.J. Heinz Company and Kraft Foods Group have agreed to merge, forming the third largest food and beverage company in North Americ.
Kraft Foods Group has announced a multi-year deal with Keurig Green Mountain to bring its branded coffees to Keurig brewing systems in the U.S.
Kraft Foods Group has announced plans for a new Kool-Aid-themed mobile app.
©2017 UBM. All rights reserved. A UBM Company.


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Ink industry purchasing executives keep watch on cost, availability of crude oil and key feedstocks
Metal-free packaging was often not a practical option for products requiring an outstanding barrier.
Printers see new opportunities, and are optimistic about the future of the industry.
Two Sides North America shows why 165 companies globally have removed Go Paperless campaigns.
Amir to become Landa Corporation CEO, as Benny Landa to continue as active chairman.
Strong growth in the Asia-Pacific region and increased activity in developed regions will continue to drive demand.
Alphagraphics is the largest supplier of consumables to the printing, signage and graphics industries in Northern Ireland.
Sign up now to receive the free weekly newsletter, and more!


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Trade Me sellers face tax in law update
Proposed law changes will force Trade Me users to disclose whether they are professional traders, making it harder for them to avoid paying tax on their profits.
The move could see thousands of the website's 2.8 million members lumped into the "professional" category until a clear definition is established of what an online trader is.
Parliament's commerce select committee published its report on the Consumer Law Reform Bill yesterday, recommending a raft of changes to the Consumer Guarantees Act and the Fair Trading Act.
They include extending the Consumer Guarantees Act to cover all transactions between traders and consumers. That would include all types of auctions - online ones as well as competitive tenders.
Trade Me backs the changes, but is wary that the legislation does not clearly define the point at which someone meets the “trader” threshold.
"So some guidance, hopefully from Government, will be needed," head of operations Michael O'Donnell said.
Trade Me has a chart on its website - created by Deloitte - that says if you are using the site to sell goods bought with the intention of onselling then your profits are subject to income tax. If your sales are or are expected to be more than $60,000 a year it is also necessary to register and account for GST.
But Consumer Affairs Ministry analyst Evelyn Cole has been quoted as saying sellers could be deemed to be "in trade" if they either buy or sell such goods on six or more days a year, regardless of value.
Mr O'Donnell said the latter definition could include a large number of the site's members, but did not want to comment on the implications until there was some clarity around the trader threshold.
"Our understanding is that's not the definition."
He felt the proposed changes would encourage people to the site rather than deter then, because consumers would be better protected online than offline.
Another key change would make senders responsible for goods, up to the point of delivery.
Consumer Affairs Minister Simon Bridges welcomed the report, saying New Zealand's 25-year-old consumer laws needed to be brought up to speed with modern technology.
If the bill passes three further debates in Parliament, it should become law early next year.
Joy Clark has made close to 3700 trades on Trade Me with 2431 individual members, and is described by almost all of them as a "pleasure to trade with".
Mrs Clark, of Whanganui, is in favour of extending the Consumer Guarantees Act to cover online auctions.
"It's going to upset certain sellers, but I would be asking what have they got to hide."
That said, Mrs Clark believed Trade Me's current system of user feedback was just as good a measure of a member's integrity.
"‘If they value their feedback, they value their integrity, and they will see someone right.
"I don't care what the law says, I would go above and beyond to make sure people were happy anyway – and a lot of sellers are like that."
The Dominion Post


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The arrival of Best Buy has been long-awaited by British shoppers but will not be welcomed by struggling electricals group DSGi, the former Dixons group that now trades on the High Street as Currys.digital.
Best Buy, which has also heralded its entry into the UK market with a £1.1 billion injection into Carphone Warehouse to take a 50% stake in the mobile phone retailer's estate of shops, has announced it is to open stores at retail parks in Slough, Staines, Enfield and Thurrock.
Best Buy added that it is considering a flagship store in central London, with Piccadilly Circus likely to be favourite.
Best Buy is launching into the worst retail downturn since 1992. One analyst said: "You wouldn't expect a London flagship to be hugely profitable, but it would raise the brand's profile."Reuse content


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The union finance ministry has banned banks and financial institutions to use Bitcoin in India. This was a bad news for people who were the part of bitcoin network as they could no longer buy and sell bitcoins unless they had an overseas account or an overseas relative or friend who could do the transaction on their behalf.
To overcome this challenge and problem cryptocurrency exchange Unocoin has now opened a Bitcoin Kiosk in a mall in Bengaluru which works like an ATM. This Kiosk can be useful for Indians to buy and sell bitcoins.
India’s first Bitcoin ATM in Bengaluru, which is provided by ATM-maker NCR, is like the regular bank machine but with some modifications. The debit and credit card slot in the machine has been disabled as the Indian banks and financial institution have been banned from supporting the cryptocurrency system.
Customers of Unocoin and its unit Unodax can easily deposit or withdraw the cash between Rs 1,000 and Rs 10,000 per transaction per day. The denominations for transactions will be Rs 500 note. The customer can buy other cryptocurrencies through ATM with his account balance.
Unocoin deals with the ethereum cryptocurrency, while its other unit Unodax deals with other cryptocurrencies like ripple and litecoin. Sathvik Viswanath, CEO, and founder, Unocoin said: “We have a customer base of 13 lakh users and we are hoping that this will ease the pain points of customers after the ban.” Before the ban, Indians could use bitcoins for multiple purposes, including to buy gift cards on Nafa.in, buy books, music CDs, games at Padma Book House, and buy bus tickets.
After the Ban Indians could only use bitcoin when they are overseas such as in countries like Japan where bitcoins are used to pay for meals, flight tickets, and movie shows. Bitcoins are also used to buy goods and other stuff on global websites such as Ali Express. Some tech websites in India also use Bitcoin to pay freelancers for gadget reviews.
Any kind of Bitcoin transactions is mediated through the crypto exchanges. People who are buying Bitcoins mainly view them as an investment, hoping to cash them when the value of Bitcoin rises. According to Unocoin founder Sathvik Viswanath, his platform has seen 18% user growth since the Bitcoin was banned in India.
According to him, “The finance minister’s statement was very clear. Cryptocurrencies are not legal tender in India. He did not say illegal tender. There’s a huge difference. It only means you bear the risk of your investment and there’s no regulation for the industry.”
Earlier Union finance minister Arun Jaitley had said in the Budget speech, “The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these cryptoassets in financing illegitimate activities or as part of the payment system.”
Unocoin, which was founded in December 2013, said the next few kiosks will be set up in Delhi and Mumbai.
“We rebranded it as a kiosk after we realised people were mistaking it for a regular ATM and trying to withdraw money from it,” Viswanath says.