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The story behind Luckin Coffee’s $310m fraud
The world’s attention is fixed on coronavirus. That’s why you might have missed the news that a Chinese start-up admitted to an over $300m fraud. It’s a good time to bury bad news, but not so for Luckin Coffee. The markets took notice and hammered China’s largest coffee shop chain. Its share price has plummeted, from over $50 in mid-January to less than $5 today. That 95% drop wasn’t the end though. Its chairman was forced to default on a $500m loan and shareholders have organised and are suing the company. It is a fall from grace for a darling of the Chinese start-up scene akin to that of WeWork’s. What happened?
Tea reigns in China.
It has the beverage of choice for thousands of years. From the lowliest peasant to the highest-ranking bureaucrats and rulers, everyone in China drinks tea. Chinese cities are studded with teahouses. Patrons gossip, smoke cigarettes and play board games, often spending hours sitting sipping tea. Starbucks wanted to change that and launched in China in 1999. Beforehand coffee had only been served in hotels and other places foreigners congregated. With the launch of its first outlet, Starbucks tried to change the palette of regular Chinese consumers, unaccustomed to the taste of coffee. Sugary and milk-laden drinks were the way to get people drinking coffee.
But as important was presenting the drink as western, youthful and cosmopolitan. Young, urban professionals, working in China’s booming tech hubs, began to take to the new drink. A nascent coffee culture was appearing. Serving social media-friendly beverages and contrasting with the sedate pace of teahouses, coffee took on a glamour similar to the people it served. Its ambitious image struck a chord with the tech industry where late nights were fuelled by coffee. Enter Luckin.
Founded in October 2017, Luckin Coffee grew from its base in Xiamen quickly. By May 2019 it was already running 2,370 locations, a growth trajectory that fit in with the booming tech start-ups. It managed this by eschewing the type of stores favoured by its competitors. Starbucks was by now the largest coffeehouse chain in China with Costa in second. Their Chinese stores are familiar to anyone who knows the laptop strewn tables and young creatives nursing cups of frappuccinos, iced coffees or macchiatos in any western city. Luckin’s locations were a little different.
If you wander into any of Luckin’s outlets you won’t be able to order a coffee at the counter. A little strange for a business which makes money by selling coffee. Instead, you must place and pay for your order through its app. Customers collect their coffee at kiosks smaller and without the comforts of a Starbucks or Costa. This tech-first approach appealed to Luckin’s target consumer. It also helped keep costs low as the firm expanded.
Customers are served quickly, and the turnaround time is low. This low-cost ethos helped Luckin undercut Starbucks on price and appealed to price-sensitive Chinese consumers who could get tea for cheap. Luckin also offered free and discounted cups of coffee to new customers. This aggressive and targeted discounting could only have been done through an app which tracked customer orders, tastes and signups. Another feature of Luckin’s model that appealed to its chosen demographic was delivery. Customers could get their coffee delivered straight to their offices or studies within half an hour. It was a feature Starbucks eventually copied, though it took them a while to do so.
Luckin grew. It grew fast. But it needed money — and lots of it. Less than a year after it was founded, in July 2018, it secured $200m of funding in an early series round. A year after it had launched, it had 1,300 locations. It was on its way to achieving its goal of eclipsing Starbucks as the largest coffee chain in China. In May 2019, it launched an IPO in the US. It raised $561m to help its ambitious growth strategy and was valued at $4bn. It needed the money as it was burning through cash at around three times the rate it was bringing it in. From its cashless stores and data mining app to its clientele and areas where it opened, Luckin positioned itself like a tech start-up. It produced the growth required to stay in that company too. But much like WeWork, Luckin was a traditional business masquerading as a tech start-up. WeWork was essentially a landlord. Luckin sold coffee. The bubble was ready to burst.
In January 2020 Luckin continued its expansion by launching vending machines that served coffee. They achieved the long-term goal of having more locations than Starbucks. Though the people behind Luckin didn’t know it, it was to be the company’s high point.
That same month, on 31 January, Muddy Waters, an investment firm that backs up its positions with investigative research, tweeted out a report that claimed Luckin was fabricating its sales. By watching thousands of hours of CCTV, examining customer receipts and monitoring app metrics, the report claimed that Luckin had been overreporting revenue since the third quarter of 2019. Founded by Carson Block, Muddy Waters was a firm that investigated Chinese businesses and took a short position if they smelled something fishy. Block had dealt with tech entrepreneurs early in his career and had come away from the experience with a sour taste in his mouth. The lying and obfuscation had motivated him to start his investment firm. Seeing the numbers Luckin released, Block and Muddy Waters thought that not everything at the firm was kosher.
To grow as bigger than Starbucks in less than three years Luckin had to launch a lot of new locations. Over 4,000 of them. Often these were near existing Luckin outlets. They targeted tech quarters and university districts. When a firm opens new stores in such a manner, it is expected that sales per store will fall. The new shops cannibalise some of the existing customer base of the older ones. Despite how aggressive Luckin was expanding, this was not happening. Instead comparable store sales were going up by around two-and-a-half times. Those were unbelievable numbers — and for good reason.
After the Muddy Waters tweet, Luckin took a small hit to its share price. But it wasn’t until early April when things got bad. An internal investigation backed up the allegations. The Chief Operating Officer was fired after over $300m of sales were found to be faked. Luckin’s cofounder, Lu Zhengyao, may have to step down from his other companies as the stink spreads.
Luckin may survive, but it will tough. Analysis from Seeking Alpha shows that each Luckin store is averaging a turnover of only $350 per day. Even in China, with low labour and other costs, that is hardly enough for a viable business. And it’s hard to believe any numbers coming out of the company right now, so the situation could be a lot worse. One redeeming quality is that China’s coffee culture has a lot of room to grow. The average Chinese person only drinks around 5 cups of coffee per year. Americans drink over 400. The entire Chinese coffee market was worth only $8.2bn in 2019 but is growing at a rate close to 10%. Its economy is reigniting after the coronavirus lockdown. It may just be enough to keep Luckin limping on.


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All articles by BRAIN Staff
SIMI VALLEY, Calif. (BRAIN) — Industry veteran Hugh Walton has joined Currie Technologies as Southwest territory manager. He replaces Marty Schlesinger, who has shifted roles to become the Accell-owned e-bike maker and distributor’s in-house events manager.
BOULDER, Colo. (BRAIN) — PeopleForBikes’ Green Lane Project will offer representatives of all U.S. cities the opportunity next summer to tour the renowned cycling infrastructure of urban centers in Northern Europe and participate in intensive five-day workshops on how they can transform their streets back home.
BOULDER Colo. (BRAIN) — The Outdoor Industry Association on Friday came out in support of the introduction of the U.S. Optimal Use of Trade to Develop Outerwear and Outdoor Recreation (OUTDOOR) Act in both houses of Congress.
SAN JUAN CAPISTRANO, Calif. (BRAIN) — Interbike organizers say overall attendance was “down slightly” this year compared with 2013, but the number of exhibiting brands — pegged at more than 1,400 — as well as overall square feet of the show were on par with previous years.
SAN FRANCISCO (BRAIN) — Strava has released a new version of its mobile running and cycling app that incorporates weekly goals to help athletes track and improve their performance.
ATLANTA (BRAIN) — Fitness app and product maker Wahoo Fitness has added the TICKR X heart rate monitor to its workout wearable line.
LONGWOOD, Fla. (BRAIN) — Sparky’s Distribution is working with newly formed consulting firm G3 Development Group to grow its global BMX business. Sparky’s owns Subrosa, The Shadow Conspiracy and the Rant brands of BMX bikes and parts, and distributes Bone Deth, Banned and Mutiny BMX brands.

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Orlando Uber and taxi riders will have to wait a little bit longer for the launch of UberTaxi.
The option, which allows riders to hail a cab from the Uber app, was supposed to be up and running by the end of 2018 thanks to a new partnership between the ride-sharing app and Mears Transportation, one of the Southeast United States’ largest taxi companies.
But limited personnel and a busy holiday season has pushed the launch into January 2019, said Roger Chapin, a spokesman for Orlando-based Mears.
“We didn’t want to launch a new product over the holidays. Drivers are very busy,” Chapin said in a statement. “It would have been tough for Mears to perform the necessary training for drivers, and we decided with limited time and some limited internal resources due to [the] holidays to delay.”
Chapin said the companies expect to launch the new feature within the first two weeks of January 2019.
UberTaxi is already available in other cities, including Boston and Washington, D.C.
At the nation’s capital, riders can call up a taxi by picking UberTaxi on their list of options in the app, much like you can choose UberX for an economy ride or UberXL to get a larger vehicle. According to an Uber blog post, the driver will start his or her regular taxi meter once the ride starts, and that fare is input into the Uber app at the end of the trip — plus a $2 booking fee. For the rider, all fees, including an automatic 20 percent gratuity, will be charged through the Uber app.
In other cities, taxi drivers have been able to individually sign up to be on the UberTaxi app. But Orlando will have the distinction that its UberTaxi option will exclusively feature Mears taxi drivers.
It’s all part of a first-of-its-kind partnership with the taxi giant that began in late November. The exact details of how the UberTaxi option will work in Orlando have not yet been revealed.
So far, the partnership between the two former foes has played out with the addition of UberBlack to the suite of features for Uber riders in Orlando. It allows riders to be paired with a luxury SUV or sedan from either the Mears or Uber fleet.
The luxury service costs the same whether a rider is picked up by a Mears car or an Uber vehicle. The cost includes a $2.70 booking fee, a base fare of $7, and a rate of $2 per mile and 71 cents per minute. Each trip has a $15 minimum.
The partnership came as a shock to many, after Uber and Mears had spent years fiercely competing with each other from City Hall to the Florida Legislature. But the companies changed course earlier this year, choosing to join their strengths: Uber’s popular app with Mears’ fleet and connections in Central Florida.
“What might seem at first blush as an odd pairing actually makes a ton of sense to us,” Colin Tooze, director of public affairs at Uber, told the Orlando Sentinel last month.
Uber drivers, meanwhile, are waiting to see how the addition of UberTaxi on the platform will affect them.
Larry Branch, a local Uber driver, said the addition of taxis on the app seems to be at odds with the purpose of Uber. Many of his riders, he said, prefer Uber to taxis, which is why the app has been so popular to begin with.
“I don’t understand why a person is going to want to take UberTaxi,” Branch said.
He drives UberX, which would be the most direct competition with UberTaxi — especially if the entire Mears taxi fleet is added to the Uber app, Branch said.
“If they are, that’s going to affect us,” he said.


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Caped CrusaderLeave a Comment
Many analysts believe shares in developed markets such as the UK are currently expensive. But according to Robert Shiller, the economist famous for developing the Cape ratio – cyclically adjusted price to earnings – for valuing stocks, the UK Market remains ‘a great investment’. The Cape ratio takes the current price of a stock and divides it by the firm’s relevant average earnings (profits) over the past ten years – thus providing a more accurate picture of its true value, according to its proponents. By this yardstick, the UK Market is currently significantly cheaper than continental Europe, the US or Japan.


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Valentino recently got into hot water in Japan for featuring a model sitting and stepping on a piece of fabric which resembles an obi, or kimono sash.
The model happens to be the daughter of former SMAP member Takuya Kimura, Mitsuki Kimura (professionally known as Koki), who debuted in 2018. Koki has since appeared on numerous covers for fashion magazines, including Elle Japon, Numero Tokyo, Nylon Japan and Vivi, and even represented luxury brands like Bulgari and Chanel.
Her latest stint was a photoshoot for Valentino, published last month, for the brand’s spring/summer 2021 Valentino Collezione Milano for Women collection in Japan. The shoot featured shots of a strip of cloth resembling a kimono sash, otherwise known as obi.
What seemed like a usual luxury brand photoshoot setting turned out to be insensitive and disrespectful, as Koki was pictured sitting on what critics say looks like an obi, and even walking on it with high heels. Not only is the kimono significant in the Japanese culture, it is also a work of an art in which skilled artisans hand-craft kimono using specific and time-consuming techniques.
Japanese people never lay kimono obi on the ground or step on it with their feet!!
This image is exactly the Cultural Appropriation by foreigners!!!
(Many Japanese don't care that foreigners wear kimono.)#VALENTINO pic.twitter.com/c84guop9H7
— uzume (@_uzume__) April 1, 2021
— かに星人🦀 (@gyokai_tabetai) March 28, 2021
Japanese netizens were appalled when they saw the photos:
“I don’t like that she’s stepping on it with heels. Sitting on it feels wrong too. The obi is for wrapping, not for laying out.”
“It’s like stepping on the Japanese flag.”
“The obi is not a carpet.”
“If the craftsman who made the obi sees it, he will be overwhelmed.”
“This is impossible to accept.”
Due to the backlash, Valentino has removed the photos from their website and social media accounts. They issued an apology on 30 March in both Japanese and English, which said, “The fabric unwittingly resembles the Japanese traditional obi and Maison Valentino deeply apologises for any offence caused.”
However, the apology was less than satisfying for many, and only seems to imply that Valentino was making excuses by claiming that any similarity between the obi and the cloth used was unintentional.
Many chimed in on Valentino’s insincere apology:
“Even if these fabrics are H&M’s clothes, not the obi, it’s still a very rude act.”
“Obi or not, we avoid stepping on any types of cloth in shoes.”
“Which means you prepared the fabric which is very similar to obi then sitting or stepping on it?”
“How about stomping on Valentino's new collection with an Italian model? Wouldn't it be nice because Italian fabrics were respected?”
“Even if it's fabric that has not yet been made into obi, it's still fabric people have put their time and passion into designing and weaving.”
Although it's apparent that Valentino could have been more culturally sensitive, many said that Koki should not be held responsible as she was merely following instructions from the creative team.


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Popular Motorola Articles for 2001
Motorola has made the equivalent of a conference call, connecting cell phones with handheld computers to develop a new combination device, the Accompli 008.
Motorola Inc. is poised to launch a product that could deal a deadly blow to Research In Motion Ltd. s position as the sole maker of an always on, e-mail[...]
Motorola on Tuesday made two additions to its Dragonball line of processors for mobile devices, which the company hopes will stave off competition from Intel and Texas Instruments.
Deals with handheld computer makers indicate Intel may be firming up its foothold in the handheld niche. Can it compete with Motorola's Dragonball processor?


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Largan acquires factory
Smartphone lens module maker Largan Precision has disclosed it has signed a deal to acquire from machine tool maker Leadwell CNC Machines a plant with total floor area of 13,221 square meters in Taichung, central Taiwan, at NT$1.824 billion (US$59.2 million).
Large-size 8K TV, OLED and gaming display applications were the main focus of CES 2019, with a number of 8K TVs showcased by TV vendors likely to be commercialized in 2019, Digitimes Research has found.
Taiwan-based LED firms have been improving their production efficiency by upgrading manufacturing lines with more smart automation equipment in a bid to maintain competitiveness against China's fast expanding makers, according to sources from the upstream supply chain.
Techman showcasing collaborative robots at RoboDEX 2019
Techman Robot is exhibiting collaborative robots at Robot Development & Application Expo (RoboDEX) taking place in Tokyo during January 16-18 in a bid to tap the Japan market, according to the company.
Taiwan government-sponsored Automotive Research & Testing Center (ARTC) will provide a third-party platform for testing locally-produced components/devices for autonomous driving.
Acter to gain from makers moving production out of China
Clean room engineering specialist Acter saw its annual revenues surge 24.33% on year to hit a record high of NT$14.22 billion (US$461.47 million) in 2018, and expects to significantly benefit from the trend of Taiwan investors in China moving their production back home or to Southeast Asia amid the...
Kenmec to develop smart logistics centers in China
Automated logistics equipment maker Kenmec Mechanical Engineering will develop smart logistics centers in China, with a small portion of them to be for own use and the remaining available for lease by strategic partners, according to company chairman Frank Hsieh.
Asustek Computer is expected to see its Chromebook shipments top one million units in 2019, thanks to its close relationship with Google and steady supplies from contract manufacturing partners Pegatron and Quanta Computer, according to industry sources.
Inventec taps into 5G, automotive eletronics sectors
Taiwan notebook ODM Inventec saw its annual revenues soar past the NT$500 billion (US$16.20 billion) for the first time ever to reach NT$506.87 billion in 2018, up 8.42% on year. But the company is stepping up deployments in new segments such as 5G and automotive electronics in 2019 and expects such...
Foxconn sees 2018 revenues reach new record
Foxconn Electronics (Hon Hai Precision Industry) has announced consolidated revenues of NT$619.32 billion (US$19.95 billion) for December 2018, up 2.97% on month, but down 8.27% on year, while the company's consolidated revenues for 2018 were NT$5.29 trillion, hitting a new record with an increase...
Taiwan GDP growth to slow to less than 3% in 2019
Taiwan's gross domestic product (GDP) growth will likely slow to less than 3% in 2019, a performance lower than 2018, requiring major government efforts to expand domestic demand and increase public investments amid export declines in the year, according to the National Development Council (NDC).
Quanta Computer and Compal Electronics are both expected to see their first-quarter revenues buck seasonal patterns, as sales momentum for their US-based clients' new models made available in fourth-quarter 2018 will continue in the current quarter.
In a rare move, Taiwan's top economic planner has said lackluster sales of new iPhones can be blamed partly on the devices' lack of innovations, which may directly impact revenue performance of supply chain partners in the country in 2019.
HTC paints rosy picture for 2019
HTC is positive about its business prospects for 2019 as it will continue to roll out efforts to revitalize its handset business and achieve significant VR revenue growth by offering integrated hardware, platform, content and related services, according to company chairperson Cher Wang.
Ting Sin on growth track in 2019
Taiwan-based aluminum extrusion billet maker Ting Sin expects its sales to be on a growth track in 2019, driven by growing shipments of high value-added aluminum alloy products to the automotive and aerospace industries.
Acer sales grow 2.2% in 2018
Acer has disclosed its consolidated revenues for the full year 2018 reached NT$242.57 billion (US$7.87 billion), growing 2.2% from the previous year.
Qisda 2018 revenues hit record
EMS provider Qisda has reported consolidated revenues of NT$155.874 billion (US$5.06 billion) for 2018, the highest annual figure ever for the company.
Inventec posts record 2018 revenues
Inventec saw its revenues climb to a record high of NT$506.87 billion (US$16.42 billion) in 2018, thanks mainly to growing shipments for server products particularly datacenter servers. Inventec's revenues from datacenter products increased by a double-digit percentage on year in 2018.
Merry sales up almost 12% on year in December
Headset supplier Merry Electronics has reported consolidated revenues of NT$3.79 billion (NT$122.73 million) for December, down 20.11% on month but up 11.77% on year.
LG to showcase multiple robotic products at CES 2019
LG Electronics is to unveil an updated version of its AI-powered wearable robot, the CLOi SuitBot, along with an array of refreshed versions of its service robotic products including PorterBot, ServeBot and CartBot, at CES 2019, according to sources at LG Taiwan.
Taiwan December export value down on year
Taiwan recorded export value of US$28.61 billion for December 2018, growing 2.9% sequentially but dropping 3.0% on year, while the corresponding import value of US$23.89 billion rose 3.2% sequentially and 2.2% on year, according to the Ministry of Finance (MOF).
Manufacturers face hurdles moving out of China
Taiwan manufacturers looking to move production out of China amid trade tensions between the world's two superpowers face many hurdles, as their home country lack electricity and land to support their return, and there are concerns hanging over Southeast Asia and India's ability to allow them to quickly...
With China-US trade tensions expected to continue heating up in 2019, the Taiwan government has worked out measures for five major industries to help them cushion the impacts.
iPhone supply chain bracing for impacts
The supply chain of iPhone devices is bracing for major turbulence after Apple lowered its guidance for its fiscal first-quarter 2019 ended December 29, 2018 due to weak sales of its smartphones in China, according to industry sources.
Orders for datacenter servers are expected to slow down in the first half of 2019, but will resume sharp growth in the second half and grow even stronger in 2020, as many first-tier cloud computing service providers are turning to focus on raising the utilization of their new storage capacity established...
Taiwan LCD monitors – 3Q 2018
Taiwan's LCD monitor shipments grew 6.3% sequentially and 7.5% on year to reach 22.35 million units in the third quarter.
Taiwan LCD TVs – 3Q 2018
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Taiwan's handset shipments increased 5.5% sequentially, but dropped 6.8% on year to come to 21.8 million units in the third...
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This Digitimes Research Special Report offers global shipment forecasts for three major mobile device market segments - smartphones,...
iPhone shipment analysis and forecast, 2H18
This Digitimes Reserch iPhone Shipment Analysis and Forecast Special Report provides an insight into Apple's pricing strategy...


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The Australian arm of Swedish-Chinese carmaker Volvo is urging federal and state governments to take a leaf out of the EV policy book of NSW, which on Sunday leapt into the age of clean transport with the most progressive policy to support electric vehicle uptake Australia has yet seen.
On unveiling a $500 million plan to offer rebates for 25,000 electric vehicle buyers and inject significant funding into charging infrastructure, NSW is now a leader on the Australian stage against a backdrop of a global transition to electrification.
The move has been applauded by many major carmakers, with Volvo – which in March declared there is “no future” for combustion vehicles – becoming the latest to join hands for the change in policy.
Volvo has already committed to a 100% electric future for its auto manufacturing business and says that from 2030 will no longer sell any combustion engine vehicles.
The move by NSW, which will also see it transition its entire government fleet to electric by 2030, is a “significant step in the right direction,” says Volvo Car Australia MD Stephen Connor.
“Volvo firmly believes there is no long-term future for cars with an internal combustion engine. Therefore, Volvo is committed to becoming a fully electric car company by 2030 and becoming a leader in the fast-growing premium electric car market,” he said in a statement on Tuesday.
The carmaker is on the cusp of releasing its first all-electric vehicle in Australia.
This is the XC40 Recharge, a stylish mid-sized SUV that will be priced at $76,990 before on-road costs. Although it will not be eligible for the $3,000 rebate under the NSW EV strategy, it is possible it may be eligible for a waiver of stamp duty (based on the NSW EV strategy website on the matter that states the threshold is $78,000 including GST, but no on-road costs).
Volvo’s all-electric offshoot, Polestar, also has plans to release its Polestar 2 in early 2022, which will also be joined by a Volvo C40 Recharge.
“In less than a decade we intend to only sell fully electric cars and, phase out any car in our global portfolio with an internal combustion engine, including hybrids,” said Connor.
“This will allow us to meet the expectations of our customers and be a part of the solution when it comes to fighting climate change. Other carmakers have announced similar plans.”
Electric vehicle policy to support uptake plays an important role in helping countries reach their carbon emissions reduction targets. The global average of EV sales now stands at around 5%. In some countries, it is much higher, in particular, Norway at 75% where three decades of EV policy have driven a solid transition.
Connor says it is imperative that other states and territories, as well as government at a federal level, also come to the party with supportive EV policies.
“We urge the federal government, and other states and territories, to recognise this reality and fast track their electric vehicle strategies. This is crucial to ensure Australia does not lag behind the global car market which is responding to the seismic technological change that is underway,” Connor said.
The comments fly in the face of the “Future Fuels Strategy” (FFS) released by the federal minister for energy and emissions reduction Angus Taylor that has been condemned for downplaying the role that electric vehicles have to play in decarbonising Australia.
Taylor’s team admitted in March that errors were made in the modelling that suggested hybrids, rather than all-electric vehicles, represent better value for money for Australians wanting to reduce their carbon footprints.
Bridie Schmidt is associate editor for The Driven, sister site of Renew Economy. She has been writing about electric vehicles since 2018, and has a keen interest in the role that zero-emissions transport has to play in sustainability. She has participated in podcasts such as Download This Show with Marc Fennell and Shirtloads of Science with Karl Kruszelnicki and is co-organiser of the Northern Rivers Electric Vehicle Forum. Bridie also owns a Tesla Model 3 and has it available for hire on evee.com.au.


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(Shopping-NewsWire.com, October 24, 2022 ) Denver, CO and Buffalo, NY – Outskirts Press—the fastest growing, full-service self-publishing and book marketing company—is pleased to announce the release of a new work of fiction, At Odds With Each Other: A Novel by Ben Suhrie. Richard Armadale, a recent...
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Earlier this year, reports claimed that music company 300 Entertainment might be up for grabs in a $400m sale. Well, the figure remains a matter of speculation, but the deal has been done. “The rumors are true… we’re acquiring 300 Entertainment,” wrote Warner Music Group’s CEO of recorded music Max Lousada in an email to colleagues yesterday.
WMG was an obvious suitor for 300, given that the two companies had been working together (via a distribution relationship) since the independent label launched in 2013.
Kevin Liles will remain as CEO of 300 under WMG’s umbrella, while taking a similar role for its Elektra Music Group arm. “Both Elektra and 300 will retain their separate identities, and their teams will continue to occupy their separate offices,” wrote Lousada.
We’ll be interested to see what happens to Sparta, the AWAL-style invitation-only distributor arm launched by 300 in June.


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Rasasi Reinforces its commitment with immense expansion plans across the Sultanate of Oman.
Rasasi Perfumes, one of the leading names in the regional retail landscape offering a wide range of Oriental and Western fragrances, today announced plans to open 4 new stores in the Sultanate of Oman in 2013 which would offer - the entire range of fragrances from the House of Rasasi.
Mr. Salim Kalsekar, Managing Director of Rasasi Perfumes, said: “We are happy to announce our aggressive expansion plans in Oman. This announcement comes close on the heels of our new store in Sohar and Qurum, which reflects the huge demand for our products in the country. Oman is a strategic market in our regional growth strategy and our new stores are part of our vision to expand our geographical presence across the region.”
The company's business has grown steadily since its inception three decades ago and currently operates over115 stores across the region. Rasasi manufactures a wide range of Oriental and Western perfumes with a strong distribution network spread across the world and a retail network throughout the Middle East.


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(Lacoste presenting at WTWH Media’s It’s All Marketing Summit. Image via Jebbit)
Advertising technology company Jebbit announced Wednesday a strategic partnership with Cleveland, Ohio-based business-to-business media company WTWH Media. The news comes just three weeks after Jebbit established an exclusive post-click engagement partnership with Greater Media Boston.
WTWH Media will begin offering its advertisers native and immersive post-click engagement via Jebbit’s production, delivery and analytics platform. WTWH Media produces more than 40 technical websites, as well as four print publications covering the design, engineering and renewable energy markets.
“Post-click engagement is becoming an integral part of digital media campaigns as people embrace interactive experiences with brands,” said WTWH Media Founder and CEO Scott McCafferty in a statement. “Jebbit’s unique post-click format, combined with their analytics, will make it easier for advertisers to create and monetize user engagement.”
Jebbit’s technology creates an interactive question-and-answer ad experience over a brand’s landing page, and in a way where employees with even minimal tech savvy can create post-click experiences that integrate with any digital marketing channel. The goal, after enticing consumers to spend more time engaging with a brand’s ad, social post or email message, is to arm advertisers with the proper data to help them reach the ideal customer after the click.
Speaking to the benefits of the partnership, Jebbit COO Jonathan Lacoste shared in a statement:
Among B2B advertisers’ primary objectives are pre-qualifying and generating quality lead generation, meaningful interaction with the consumer and making the product resonate. This new partnership will allow advertisers to test and leverage post-click engagement across properties with the end result being more engaging and better performing digital media campaigns.


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Disney begins selling in the initial TV (and streaming) market (
The market for “initial” television advertising sales is starting to move – and sooner than expected.
Just days after the networks wrapped up glitzy programming pitches to Madison Avenue executives, Walt Disney Co. is reportedly writing deals with at least one major media buying agency, according to three executives familiar with the recent talks. Disney is “ahead of the market,” said one media buyer. In the industry’s initial annual process, American television networks try to sell off most of their commercial inventory before their next programming cycle.
One such person noted that Disney’s initial conversations are “going very well” and that the company is “making significant progress” and seeing “strong demand” for entertainment programming, sports, live events and content for various audiences.
The terms on which Disney might do business could not be immediately known, but executives at the networks and various media agencies acknowledge that the TV companies have not fought for the massive rate increases they have won last year.
In 2021, the networks called for increases of 16% to 22% in the cost of reaching 1,000 viewers — a metric known as CPM that is key to those annual talks between television networks and Madison Avenue. In 2022, many of these people suggest that networks are haggling for CPM increases in the mid- to high-single digit range, hoping they can make money by driving a large volume of early ad engagements on content sites. streaming and linear, rather than forcing a portion of their trades into exorbitant rates of increase. One marketer suggested that if networks are heavily focused on volume capture, they might choose to relax some of their CPM demands further.
Disney has a lot of coveted commercial inventory for sale. The company has crafted a “mega-cast” for ESPN’s “Monday Night Football” that will feature former Fox Sports hosts Troy Aikman and Joe Buck in the booth, and a second game-related show. directed by Peyton and Eli Manning. In addition to the NFL, ESPN also owns the rights to Major League Baseball, the NBA, and the NHL for dozens of games. And Disney is giving advertisers access to limited ad inventory in Marvel and Star Wars series, as well as other programs, that work. on a new ad-supported version of Disney+.
At the same time, Disney isn’t immune to how technology has changed the way people watch TV. More people who make up the mainstream watching “Grey’s Anatomy” or “Good Morning America” have have migrated to streaming their favorite shows “on demand” at times of their choosing. This dynamic forces big advertisers to spread their dollars more from primetime television to ad-supported streaming sites. That money can go much further in streaming, where ad unit prices remain significantly cheaper than those found on TV. Competition for this part of the Madison Avenue portfolio began to heat up. Warner Bros. Discovery’s HBO Max also offers limited business opportunities in an ad-supported version of the service, and Netflix has indicated that it too will soon seek to launch a version of its service that includes advertisements.
There has been speculation among media buyers that Publicis Media, the media investment arm of French advertising giant Publicis Groupe, has struck some initial deals. Publicis and Disney have been strong partners in the recent past. Earlier this year, Publicis has reached an agreement with Disney to test new audience measurement systems that will be implemented by Nielsen later this year. A Publicis Media spokesperson did not immediately respond to a request for comment.
In recent years, the initial market has generally not opened in earnest until after Memorial Day weekend. In 2021, however, advertisers’ interest in forging ahead in streaming inventory has forced them to move faster. In 2021, Disney, Fox and NBCUniversal had all been working on deals, and parts of their structure were revealed soon after the holidays.. Fox and NBCUniversal declined to make executives available to comment on their initial progress so far in 2022, as did two other big sellers, Paramount Global and Warner Bros. Discovery.
#Disney #begins #selling #initial #streaming #market


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It seems, so far, that the race to best please the guest through advanced mobile solutions is being won by Hilton Worldwide.
The hotelier recently announced the launch of a new mobile effort, which will allow guests to choose their rooms and make special requests from their smartphones or tablets. By the end of 2014, 4,000 properties will offer this unique feature. In addition, in 2015, the company will introduce a technology to let guests unlock their hotel rooms with their smartphones.
“For nearly a century, our guests have counted on us to consistently deliver exceptional experiences around the world, and in today’s digitally connected culture, that means providing them with more choice and control over their hotel stay through technology,” Christopher Nassetta, Hilton Worldwide’s President and CEO, said in a written statement.
As highlighted in this USA Today story, Hilton HHonors members will be able to sign into their accounts through their mobile devices, tablets or computers at 6 a.m. the day before they arrive to check in. From there, they can select their room using floor maps or lists of available rooms, as well as view photos of the rooms.
A big driver of this move by Hilton was insights gathered from an internal online survey, which found that 84 percent of 1,009 travelers want to be able to choose their rooms through their mobile devices.
Hilton is also rolling out digital checkout this summer, which is clearly going to be a game-changer in the travel industry, according to industry experts.
“If the hotels can streamline the process where travelers can seamlessly book, select the best room for their needs, check-in and pay without stopping at a desk to complete merely administrative tasks, it’s fantastic,” said Robert Cole, Founder of RockCheeta, in the USA Today article. “It saves the hotel labor cost and also frees the staff to focus on providing hospitality to help guests have better travel experiences.”
The new frontier of mobile hotel guest solutions is finally coming to the forefront, and it seems that Hilton is a leader. In the coming year, we imagine other major hotel brands will follow suit, making the guest the ultimate winner.


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The lights are on
During their third quarter 2013 earnings report today, Microsoft disclosed that Xbox Live subscriptions have increased 18% over the prior year's same period. The total number of subscribers is now over 46 million worldwide.
Additionally, the entertainment and devices division posted revenue of $2.53 billion, which is up 56% over last year. This news comes right before the NPD retail sales data for March 2013 is due to be released.
Email the author Mike Futter, or follow on Google+, Twitter, and Game Informer.
Wow... I'm not that shocked though...
The haters are going to latch onto this article like leaches. Really, can't we learn to get along?
(Like that'll ever happen)
I'm glad to be one of the 46 million, I really like Xbox.
They're going to be losing a lot of those if they need to stay always on for the nextbox.
im one of them and it is proof that it is working and even if it is paid, the service is top notch...i dont mind paying 59.00 bux a years, that is nothing to me..5 bux a month is gold and cheap.
Wow, this number is waaay larger than I would have ever expected!
Wow that's awesome
Nice! Thats awesome!
Impressive, especially for paid subscriptions as well.
Nice to see we have an active number of gamers worldwide. Honestly, I wish there was one central gaming network with 'exclusivity' sections. It would make interoperability between platforms much more enjoyable (at least for me).
I cancelled mine a month ago and am enjoying the psn games you get for signing up with them. Trying not to think of all the money i pointlessly blew on Gold.
This "subscribers" are silver and gold account. That's a joke, because with silver accounts microsoft doesn't earn subscriber fee.
i pay for xbox live for the secuirity. who would trust psn since they got hacked twice
i am proud to be one of those 46 million


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Augmented reality takes another step closer thanks to new contact lens display technology
I’m sure you’ve heard of Google’s augmented reality concept Project Glass, didn’t you? Well the The Centre of Microsystems Technology has announced that they intend to push the notion even further with their latest announcement. The Ghent University-based team recently declared that they have developed a spherically curved LCD display which can be imbedded into contact lenses, the implication being that in future we could all be steaming films directly on to our eyeballs.
Whilst contact lens displays aren’t an entirely new technology, researchers at the University of Washington tested LED based lenses on rabbits back in 2011, the real breakthrough made here is the use of LCD displays. Previous LED-based displays meant that the content which could be displayed was limited to only a few small pixels located in the middle of the lens, however the ground breaking LCD-based technology allows for the use of pixels across the whole surface. This is possible thanks to some very cleaver development ideas using thin conductive polymer films integrated into a smooth spherical cell.
Along with the announcement the researches also showed off a prototype which demonstrates a dollar sign being displayed on the curved lens. So far the display is limited to only fairly simple patterns and unfortunately it seems that the image cannot be seen by the wearer at this stage.
But like all new technologies in their infancy things are only going to improve, and as stated by Prof. Herbert De Smet who supervises the research:
“Now that we have established the basic technology, we can start working towards real applications, possibly available in only a few years time.”
The research team already has aspirations for the device’s future, from changing the color of an iris at will to potential uses in Ophthalmology, such as controlling the light received by a damaged iris. One researcher even mentioned the possibility of “fully autonomous electronic contact lenses” as well as heads-up-displays. There’s certainly some great potential here for both medical science and some truly amazing consumer gadgets.


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Brexit Britain which is running low on battery power faces an acid test as EU races ahead
Britain has set a fast pace in the electric vehicle race with its 2030 ban on sales of new fossil fuel-powered cars and has offered 1 billion pounds to jump start its batery industry and associated supply chain. But the cash and the headline-grabbing deadline — which is sooner than many other nations by several years — still leaves it trailing the European Union’s drive to create a supply chain and far behind China, the electric vehicle (EV) batery leader.
The stakes are high for Brexit Britain. To keep selling into the 27-nation EU without tariffs, Britain’s car industry, which employs 170,000 people, must ensure electric vehicles and the bateries that power them meet stringent rules of origin — with up to 70% of input in value terms coming from Britain or inside the EU.
With its 2030 deadline looming followed by its 2035 cut off for hybrids, Britain needs more batery factories — and fast.
Yet, even Nissan’s plans for a 9 gigawat hour (GWH) batery plant in Britain — hailed by the government when it was announced in July — are dwarfed by two plants being built in Germany alone, Tesla’s 50 GWH plant near Berlin and Volkswagen’s 40 GWH factory near Wolfsburg.
“We have come rather late to the party,” said Douglas Johnson-poensgen, chief executive of Britain’s Circulor, who has worked with Volvo Cars and others on building sustainable supply chains.
The Department for Business, Energy and Industrial Strategy (BEIS), at the heart of Britain’s EV investment drive, says it is ensuring Britain remains a world leader in the auto industry.
“We remain dedicated to securing UK gigafactories, and continue to work with investors to progress plans to mass manufacture the bateries needed for the next generation of electric vehicles,” a spokesperson said in an emailed statement.
Meanwhile, the EU is powering ahead to catch up with China and transform its car industry, a major employer across the bloc, including in heavyweights Germany and France.
The bloc, which has proposed an effective ban on sales of new petrol and diesel cars from 2035, has allocated 2.9 billion euros from 12 EU states to support new batery plants. European climate group Transport & Environment says the EU has 38 plants planned or being built, many benefiting from other support measures from the EU or individual governments.
The bloc has identified 42 companies, including US company Tesla and Germany’s BMW, for specific roles in the batery supply chain and lifecycle, ranging from supplying raw materials to producing cells or recycling them.
Last year, the European Commission proposed laws to ensure sustainable batery production, while Germany has passed a supply chain law on the lifecycle of bateries, with plants to stay close together, helping meet environmental rules and containing costs. Bateries are heavy items to transport.
Britain has yet to match this, although BEIS said it was working on implementing green goals for the auto industry and would publish an infrastructure strategy this year, including on vehicle charging, and proposals on road transport emissions.
But manufacturers say Britain is not moving switly enough.
“The UK government needs to wake up and invest in the supply chain,” said Mat Windle, managing director of British sports carmaker Lotus. “We’ve got the knowledge, we’ve got the people, we just need the supply chain.”
Guy Winter, a partner at Fasken who has advised the government in the past, said Britain needed a “batery czar” to make sure the industry pulled together — a role played in the EU by European Commission Vice-president Maros Sefcovic since 2017.
Winter said failure to provide enough support, whether in Britain or the EU, would hand the race to China, which makes about three quarters of the world’s EV bateries.
Benchmark Mineral Intelligence (BMI) forecasts Britain needs at least 175 GWH of batery cell capacity by 2035 to supply around 3 million fully-electric vehicles. For now, it estimates Britain is way off the pace, with only 56.9 GWH by 2030.
To avoid EU tariffs, British-built cars must meet a range of rules on origin that from 2027 will include a stipulation that 70% of the batery pack comes from the EU or Britain.


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Apple Dishes Out Hot New Updates in Yesterday’s Online WWDC
Apple Kicked off its annual Worldwide Developers Conference with a keynote on Monday. The yearly live event, traditionally at a conference hall filled with developers and press, went online this year.
The coronavirus pandemic has forced the technology giant to hold its massive event online. But, fortunately for tech enthusiasts, the pandemic didn’t stop the company from delivering to its market.
Apple Chief Executive Officer Tim Cook started off the streaming announcement, addressing the Black Lives Matter movement and the pandemic. They will then have the highly anticipated announcement of the latest iOS 14, which features new designs from the iPhone maker.
Apple’s new operating system has a newly designed home screen with widgets. Technology news reports say that it’s a better version of what the Android and Windows OS already has.
So far, the company also presented new updates for the iPadOS 12, TV OS, WatchOS, and MacOS Big Sur.
The operating systems are already available for developers to review the new updates. While Public betas will start sometime around July.
Additionally, the company announced two major changes in how it will handle App Store conflicts with third-party developers. The tech giant will now allow developers to appeal to some App Store guideline violations with separate processes for challenging the guidelines.
The multinational corporation then added that it will no longer delay application updates to fix bugs and other problems. The changes were announced via press release and comes after its dispute with Hey.
Perhaps one of the biggest pieces of news from yesterday’s keynote was the revelation of the company’s switch.
Over the past few months, investors and tech experts have continuously speculated about Apple’s transition away from Intel. And just yesterday, the rumors had been confirmed.
Through modern technology, the Silicon Valley-based company now produces its own customized chips. The company previously used Intel’s chips for their devices, and now, the company will go on its own.
Investors felt positive about the news, as it could save a ton of cash in its production. Meanwhile, tech experts are curious to see if Apple’s own creation would match Intel’s chips.
The company is overhauling its Mac computer with their own in-house ARM chips which is seemingly close to iPhone and iPad chip designs. The company has been using Intel’s chips for around 14 years and this change will disrupt both the software makers.
In Tim Cook’s own words, Mac is moving to its own “Apple silicon”, with the first ARM-based Macs arriving later this year.
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By:Dr.Adal M.Hussain,Phd (AKA) Dr. Abbey ,Editor @ Large for World Liberty TV
CES® 2023 opened today with innovative product launches that will help to solve global challenges. Companies are demonstrating how technology can conserve energy and increase power generation, address food shortages, create more sustainable agricultural systems, power smart cities, support access to clean water and more. CES 2023 is more than 70% larger than last year’s show, with over 3200 exhibiting companies, including 1000 startups, featuring the latest technologies. That includes innovations in transportation and mobility, accessibility technologies, electric vehicles, digital health, sustainability, Web3, metaverse and beyond.
“CES is back! The halls are buzzing with energy and excitement – attendees, exhibitors and media from around the world are passionate about gathering together and advancing our industry,” said Gary Shapiro, president and CEO, CTA. During CTA’s State of the Industry Address Thursday morning, Shapiro noted, “At CES 2023, new innovations promise to change our world for the better. Companies big and small are showcasing innovations in mobility, digital health, artificial intelligence, robotics, food tech, smart home, digital assets and more.”
Joining Shapiro on stage were John T. Kelley, vice president and acting show director, CES, and Kinsey Fabrizio, SVP, membership, sales and marketing at CTA to provide updates on expected trends and sessions at the show.
Dr. Carmichael Roberts, chairman of CTA’s Executive Board and founder of SOURCE, joined Shapiro on stage to discuss how SOURCE is providing access to clean water through Hydropanel technology and renewable resources, powered by the sun.
Shapiro also announced the second edition of CTA’s International Innovation Scorecard, an assessment of policies and practices around the world that fuel tech innovation or stand in the way of progress. A record 24 countries earned the highest ranking of “Innovation Champion”: Australia, Austria, Belgium, Canada, Denmark, Estonia, Finland, France, Germany, Iceland, Ireland, Israel, Japan, Lithuania, Luxembourg, The Netherlands, New Zealand, Norway, Singapore, Spain, Sweden, Switzerland, the United Kingdom, the United States, as well as the European Union (EU).
While the CES exhibit show floor opened today, the full week of innovation kicked off on Tuesday and Wednesday with Media Days press conferences, CTA’s 2023 Tech Trends to Watch presentation, CES Unveiled Las Vegas and keynotes from AMD, BMW and John Deere.
Keynotes: John May, chairman and CEO of John Deere, delivered the opening CES 2023 keynote unveiling a new era of farming with advancements in technology that will help to ensure food security for the growing global population. May noted, “technology allows farmers to create more with fewer resources – doing more with less is the path forward.”
Dr. Lisa Su, Chair and CEO of AMD, delivered a preshow keynote Wednesday evening, unveiling a broad range of new AMD products, powering artificial intelligence, hybrid work, gaming, adaptive computing and more. Emphasizing her belief that “technology should do good,” Dr. Su also highlighted the power of adaptive computing to drive advances in healthcare, metaverse, space exploration and entertainment – all while using less energy to create a more sustainable world.
Oliver Zipse, Chairman of the Board of Management for BMW, delivered an evening CES keynote on Wednesday. Zipse introduced the “perfect digital car of the future” – the NEAU KLASSE generation of vehicles – and unveiled the i Vision Dee, a BMW concept electric vehicle equipped with high-end and adaptive AI. Vehicles are set for production in 2025. “We are able to explore the full potential of digitalization to transform the car into an intelligent companion,” said Zipse.
Celebrities at CES :Entertainers and other figures from sports, music, movies, TV and technology will appear throughout the week celebrating technology through speaking engagements, signing autographs, and meeting conference attendees including: Grant Hill, Jessica Mendoza, Ken Jeong, Barbara Corcoran, Snoop Dogg, Imagine Dragons, Mario and Marco Andretti, Paris Hilton, Joe Theismann, M. Night Shymalan, Erin Andrews, Arnold Schwarzenegger, Kevin Pearce, Jose Andres, Seth Rogen, Paula Abdul, David Dobrik, and Lauren Miller Rogen.
2023 Tech Trends to Watch Presentation and Media Days:While the CES exhibit show floor opened today, the full week of innovation kicked off on Tuesday and Wednesday with CTA’s 2023 Tech Trends to Watch presentation, CES Unveiled Las Vegas and Media Days press conferences.
CTA’s Vice President of Market Research Steve Koenig presented 2023’s Top Tech Trends to watch on Monday. New research from the Consumer Technology Association (CTA)® projects U.S. technology retail revenues of $485 billion in 2023. This new data puts revenues slightly above pre-pandemic levels, following a three-year surge in consumer technology spending that peaked at a record-breaking $512 billion in 2021. While CTA anticipates a looming recession and inflation will weigh against consumer spending in the coming year, consumer technology industry revenues will remain roughly $50 billion above pre-pandemic levels, with bright spots including technology services, automotive tech, and health and fitness technology. Meanwhile, many consumer technology prices have fallen thus fighting inflation.
Media Days featured 25 press conferences from global brands who unveiled products and broke company news before the show floor opened.
New for 2023, CES is partnering with the United Nations Trust Fund for Human Security and the World Academy of Art and Science on the Human Security for All (HS4A) global campaign to foster food security, access to health care, personal income, environmental protection, personal safety, community security and political freedom.
Kicking off a full week of must-see events and innovation, CES 2023 runs through Sunday, January 8, with on-demand content available through February. Visit CES.tech to get live updates from CES 2023 – including keynotes, sessions, product announcements and show floor coverage. Download CES b-roll, including CES Unveiled product debuts.
The CES App has everything you need to plan for and navigate CES 2023. Download the CES 2023 App by searching “CES 2023” in your app store or visiting CES.tech/CESApp.
About CES: CES® is the most influential tech event in the world – the proving ground for breakthrough technologies and global innovators. This is where the world’s biggest brands do business and meet new partners, and the sharpest innovators hit the stage. Owned and produced by the Consumer Technology Association (CTA)®, CES features every aspect of the tech sector. CES 2023 will take place in person in Las Vegas, and digitally, Jan. 5-8, 2023.
About Consumer Technology Association: As North America’s largest technology trade association, CTA® is the tech sector. Our members are the world’s leading innovators – from startups to global brands – helping support more than 18 million American jobs. CTA owns and produces CES® – the most influential tech event in the world.
Yes CES 2023, was back in a very big way, bringing out the biggest tech innovators of all time, and so much to see and get excited about. See much more about CES 2023 in our World Liberty TV, Technology and Technology Review Channels and Blogs by clicking here.


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Realme Narzo 20 Pro, Narzo 20 and Narzo 20A to launch in India today
Realme Narzo 20 Pro, Narzo 20 and Narzo 20A smartphones will be launched today. Realme will also unveil Realme UI 2.0 based on Android 11.
Realme will debut its Narzo 20 series in India later today. This is the second offering from Realme for its Narzo lineup with three new phones - Narzo 20 Pro, Narzo 20 and Narzo 20A.
Realme's Narzo 20 series launch event is scheduled to start at 12:30 PM. It will be a virtual event that will be live streamed via the company's YouTube channel. Realme has been teasing its new Narzo phones, and has also dropped some hints on what to expect. Realme Narzo 20 Pro will be the most expensive of the lot, followed by Narzo 20 and Narzo 20A.
The Narzo 20 Pro has four rear cameras with possibly an in-display fingerprint sensor. Narzo 20 also houses four rear cameras, and it also features a rear fingerprint sensor. As for the Narzo 20A, it has three rear cameras along with a fingerprint sensor at the back. All three phones are also expected to feature a punch-hole design.
Realme hasn't revealed anything on the specifications front. It has teased a gaming chipset and hyperboost for the Narzo 20A. The smartphones will also support fast charging, and come with a 3.5mm headphone jack.
Realme Narzo 20 series will most likely be priced around the same price as the Narzo 10 except for the Pro variant. Realme Narzo 10 is priced at ₹11,999, while the Narzo 10A retails for ₹8,999.
Follow HT Tech for the latest tech news and reviews , also keep up with us on Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.


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On Tuesday, the Calgary Petroleum Club had two of its dining rooms operating for a busy lunch crowd as members gathered for business and holiday functions.
By Wednesday, the number of lunch customers was cut in half.
tap here to see other videos from our team.
And with provincial rules coming into effect Friday restricting Albertans from dining with people outside their immediate households — the regulations will be in place for at least three weeks — the club’s general manager wonders what the traditionally hectic holiday period will bring in 2020.
“Essentially, the Christmas season doesn’t exist for businesses that are in hospitality. It’s a no go,” said Toni-Marie Ion-Brown of the Calgary Petroleum Club.
“It going to essentially eliminate our ability to have much in-person dining . . . It’s a huge impact to us and it will most likely result in another downsizing of the staffing requirements for the duration of this period.”
Calgary’s core has endured a series of tribulations this year, from the initial economic wallop from the COVID-19 pandemic that kept thousands of office workers at home, to a free fall in global oil prices that has led to layoffs and industry consolidation.
Businesses in the area came into the year having withstood a prolonged economic malaise. The vacancy rate in downtown office towers hovers near 30 per cent.
Today, a second wave of COVID-19 is hitting the province and new restrictions are being adopted, although the UCP government did not implement a wider shutdown.
On Tuesday, the province announced retailers will be allowed to stay open but only at 25 per cent of their capacity under the provincial fire code. Restaurants and pubs in cities with a higher number of cases can remain open, with a maximum of six people from the same household allowed to sit at a table.
That will put an end to the business lunch, at least until mid-December.
Companies that can shift their staff to working from home are also being encouraged to do so.
Business operators who rely on thousands of workers coming into the downtown each day say they’re already seeing the effects of a recent spike in coronavirus cases and more office employees working remotely.
“They are all going back to their houses and there’s nobody down here again,” Elena Achilleos, owner of La Chic designer clothing store in Bankers Hall, said Wednesday.
“It’s shocking, three weeks before Christmas and usually downtown is hopping now — and there’s no one around.”
Some larger Calgary-based head offices have already told employees to work from home as coronavirus cases have surged recently.
At Cenovus Energy, the company slowly began to bring workers back to its head office in late September and October after the initial lockdown in March.
However, as cases of the virus began to increase in early November, Cenovus decided to have most of its Calgary staff work from home “for the foreseeable future,” according to a company spokesperson.
Pipeline giant Enbridge reopened its offices in Calgary and Edmonton in July and moved more staff back in mid-October. However, in keeping with the province’s latest request, people in office-based roles are being encouraged to work remotely.
A similar situation is taking place at Suncor Energy.
“We have certainly taken off the expectations that people come to the office if you are a non-essential worker,” CEO Mark Little said in an interview this week, before the new measures were unveiled.
“We have a lot less people in the office now than we had even a few weeks ago. We need to stay agile and make sure we’re protecting our people.”
For the downtown business ecosystem, which includes more than 2,500 businesses — including retail stores, hotels, high-end restaurants and small coffee shops — new restrictions will mean fewer people in the area and less spending.
Calgary Economic Development CEO Mary Moran said as COVID-19 cases have climbed in the past week, she’s noticed the number of people walking in the Plus-15 system has noticeably dropped.
“Christmas is a pretty peak season for a lot of restaurants and retailers in the downtown,” Moran said. “I do worry about how they are going to survive. Many are pivoting and doing online things, which is great.”
Businesses across the inner city are facing similar challenges.
Jessica McCarrel, who opened a new Kaffeeklatsch cafe in the Beltline last week, said the effect of the new rules will “be huge and it isn’t going to be good” for business, although she would have preferred to see a short-term circuit-breaker lockdown.
“If you tell businesses they have to (have employees) work at home and not work in the offices anymore, well that’s the people who would normally stop in and have a coffee,” McCarrel said.
“Christmas is pretty much cancelled this year.”
Retailers such as Achilleos say they’re grateful they can keep their doors open, even with restrictions, during the holiday sales period. Many are preparing to do more online sales, and promote curbside pickup or delivery.
David Crosby, co-owner of the Rosso Coffee Roasters, is trying to stay optimistic, although a drop in downtown activity has hit the company’s cafe in the Telus Convention Centre particularly hard.
The outlet, which initially closed in the spring, only reopened in October. He estimates business at that location has dropped by upwards of 70 per cent as conferences have been halted and fewer people are shopping in the area.
“It has been a tough go. There’s just significantly less traffic,” Crosby said.
“Calgarians are resilient and entrepreneurial. We will see a stretch here where it is difficult, but . . . I am hopeful. As an entrepreneur, you have to be.”
Chris Varcoe is a Calgary Herald columnist.


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Lvmh Moet Hennessy Vuitton (EU:MC)
Historical Stock Chart
3 Months : From Oct 2019 to Jan 2020
By Giulia Petroni
LVMH Moet Hennessy Louis Vuitton SE (MC.FR) said Friday that Chateau d'Esclans has been added to its wines and spirits portfolio.
The European luxury conglomerate said the chateau, which produces high-quality rose wines, extends across 267 hectares in Provence and will soon include an additional 60 hectares of vines.
Write to Giulia Petroni at firstname.lastname@example.org
(END) Dow Jones Newswires
November 29, 2019 12:21 ET (17:21 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.


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It looks like Tile is about to get some competition.
Apple is working on its own Tile competitor, which will utilize iPhones to help people track their personal items, according to a new report in 9to5Mac.
The new gadget, which Apple could show off this fall, is similar to Tile's popular Bluetooth tracker. It's a "tag that can be attached to any item," according to 9to5Mac, and is tied to your iCloud account. Apple's trackers will rely on your iPhone for location data, and you can receive push notifications if you become separated from the item.
SEE ALSO: iOS 13 will bring a huge dark mode update to iPhone Read more... More about Tech , Gadgets , Apple , Tile , and Tech


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Etika Group of Companies’ president and CEO Erwin Selvarajah said it’s looking to grow revenue by 30%-40% in the next three to five years, from a turnover close to RM1.5 billion last year, according to Malaysian media reports.
The group is expected to maintain its advertising and promotion activities, which takes up about 5% to 10% of its annual total revenue. It will focus on providing its consumers “the best quality of its 12 categories of beverages and dairy products with affordable prices.”
The newly consolidated group is the merged entity of Permanis Sandilands Sdn Bhd and Etika International Holdings, both owned by Japanese beverage giant Asahi Group Holdings. Permanis was bought over in 2011, while Etika International was acquired in 2014.
The consolidation is expected to strengthen the group’s position as the only fully integrated Halal beverage company in Malaysia.
“Obviously, every FMCG (fast-moving consumer goods) company will be looking for double-digit growth. But year-on-year there are various challenges that we need to face. So to grow the business by 30% to 40% over the next five years, I think it is quite possible for us,” Selvarajah told local reporters at a press conference on 2 August.
He also added that all of their products are gaining good traction across Malaysia, which leads him to believe that the group is well positioned to capture that growth.
To date, the group’s share of the domestic retail ready-to-drink beverages market makes up to about 20% to 25%. For this year, Selvarajah said the group is looking to record a high single digit growth of sales in Malaysian market, surpassing its 2015’s RM1.5 billion sales turnover. Selvarajah added through efficiency, Japan’s technology and work relationship with PepsiCo, Etika is able to reduce production cost.
Etika Group markets and distributes some of PepsiCo’s global brands such as Pepsi, Sting, Pepsi, Evervess, Mirinda, 7Up, Gatorade, Lipton Ice Tea and Mountain Dew exclusively in Malaysia.
It also manufactures, distributes and markets Wonda Coffee and Asahi’s Calpis plus its own brands like Chill Asian Drinks, Frost, Bleu Water and Kickapoo.


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Despite a string of heavy financial losses, Mike Novogratz – the head of Galaxy Digital Holdings Ltd – is remaining positive about bitcoin and the growing digital finance space.
Mike Novogratz Is Looking to Start a Bitcoin ETF
In a recent interview, Novogratz has revealed that his company has applied with the Securities and Exchange Commission (SEC) to begin a bitcoin-based exchange-traded fund (ETF), which has arguably been the object of many crypto companies’ affection over the past four years. While no company has ever come close to getting a green light, this isn’t stopping them from throwing their hats into the ring.
In the same conversation, Novogratz also revealed that his company incurred losses of more than $175 million during the second quarter of 2021. To be fair, this was a difficult time for all digital currency-related businesses given that bitcoin initially began the quarter out on a high note only to come crashing down just weeks later.
The world’s number one digital currency by market cap hit a new peak of approximately $64,000 per unit in mid-April, thereby hitting its highest point yet. However, by early May, the currency took a turn for the worse, and dived into the mid-$40,000 range, losing about $20,000 in value in just a matter of weeks. From there, the currency fell into the high $30,000 range and then briefly fell below $30K.
Many individuals thought this was the end; that bitcoin had reached its breaking point and that the currency was likely to disappear without a trace, though the currency has recovered somewhat and is now trading for about $45,000 per unit once again. In a statement, Galaxy Digital was clear regarding its Q2 losses, claiming:
During the quarter, our results were impacted by a 34 percent decline in overall digital asset prices and a 41 percent decline in the price of bitcoin, relative to the end of the first quarter.
By comparison, the same space in 2020 saw Galaxy Digital earning more than $35 million. Shares in Galaxy Digital dropped by more than 12 percent following the negative news. However, Novogratz refuses to let this little slip get him down. Rather confidently, he stated:
Listen, we lost money last quarter. We lost about ten percent, a little more than ten percent of our equity. That’s when bitcoin was down 41 percent. That doesn’t bother me. Year-to-date VC investment in crypto and blockchain companies stands at $9 billion with nearly $6 billion invested in Q2 alone. By comparison, 2020 average is closer to one billion of investment per quarter.
An ETF Will Only Work for Certain People
In addition, Novogratz acknowledges that many companies have not had success with their bitcoin ETF applications, though he predicts things will be different for Galaxy Digital. He also said:
Investors seeking direct exposure to the price of bitcoin should consider an investment other than the fund.


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Redmi K20 is all set to launch in India and there are some rumours about Xiaomi’s new laptop which is called to be RedmiBook 14. This will be a new Redmi Laptop. Xiaomi is selling two of its laptop which was launched in 2018. But, they did not perform well to maintain the market position in India. The Redmi Book 14 will be the first laptop to be released under Xiaomi’s Redmi brand in China. Therefore, the Redmi Book 14 specification also leaked online from different sources. So, Read the full article to know more about the laptop, Redmi Book 14 Price in India and Redmi Book 14 Launch Date in India:
RedmiBook 14 Leaks:
Therefore, The all-new Redmi Laptop will feature a 14-inch Screen as well as it will be available in different variants such as Core i3, Core i5 and Core i7. There will be an option to choose between different rams and storage like 4GB or 8GB and 128GB or 256GB according to your use. So, The higher variant will come with onboard graphics GeForce MX250 GPU.
The Redmi Laptop will only available in Silver colour. There are no choices between colours as were in the old laptops of Xiaomi. Redmi Book 14 will support Bluetooth v4.0 which is very great for the users. It will run on the latest Windows 10 with the availability of a fingerprint sensor and SD Card slots. This laptop will have USB Port 3.0 and a USB-C Type Port. It will not have storage of 512GB which is very bad for the users. So, it has full-size island backlit keyboard which is good for the users and it will weigh 1.3KG.
Redmi Book 14 Price In India:
The new Redmi Laptop pricing will start around Rs. 40000(expected) and it can be different for different variants.
Redmi Book 14 Launch Date In India:
Redmi Book 14 will launch with the Redmi K20 on May 28(expected).
That’s All For Today. Stay Tuned To TechBurner For More Updates.


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Govt extends deadline for pharma barcodes
The government has extended the deadline for one more year to affix barcodes on primary level packaging by pharmaceutical companies till July 2014.June 27, 2014 | comments ( 0 ) |
New Delhi: The government has extended the deadline for one more year to affix barcodes on primary level packaging by pharmaceutical companies till July 2014.
A barcode helps in tracking and tracing of origin of drugs, which in turn helps in minimising the chances of genuine drugs being considered spurious, sub-standard or counterfeit.
“Earlier the requirement of affixing barcodes on Primary Level packaging was to take effect from 01.07.2013. Now this date has been deferred to 01.07.2014,” Directorate General of Foreign Trade (DGFT) said in a public notice.
Primary level packaging is the first-level product packaging such as the bottle, can, jar, tube, that contains the item sold.
The government had asked pharmaceutical companies to build track and trace capability for their exported medicines using barcode technology at three levels of packaging primary, secondary and tertiary.
India exports over $ 10 billion worth of drugs annually.
The government wants to increase that figure manifold in the next few years. There is a big market for generics in the developed world.
Industry experts say the only way Indian pharma firms can tap the market is by ensuring quality, and barcoding will help ensure that.
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Dr. Natalie Barnett Featured On TV! – CT Style Live
Dr. Natalie Barnett is featured on the television program CT Style Live discussing infant and parent sleep training.
NEW HAVEN, Conn. (WTNH) – Today we have Vice President of Marketing, Aaron Pollack, and Sleep Expert, Dr. Natalie Barnett both from Nanit discussing their smart baby monitor and sleep system. Nanit launched in 2016, with headquarters in New York City and Tel Aviv. The company’s CEO and co-founder has his PhD in computer vision – the technology used to understand your baby’s movements and sleep patterns.


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Game streaming service Rainway found adware in a Fortnite hack hosted on YouTube.
Gaming phenomenon Fortnite has attracted more than 100m players worldwide, but the competitive thirst for victory is seeing many people fall foul of malware attacks.
Rainway, a popular game streaming service, noticed unusually high amounts of error reports appearing on its tracker for no clear reason.
According to Rainway CEO Andrew Sampson, the errors were a result of attempted calls to ad platforms – this was immediately suspicious. Sampson wrote: “These are attempts to call various ad platforms; the first thing we should note is, Rainway does not have ads on it, which was an immediate red flag.
Rainway experts examined the affected user base, and they found that all of them played Fortnite.
Researchers found malicious Windows adware hiding in a game cheat purporting to be an aimbot, while promising free in-game currency (V-Bucks). Once installed, it alters Windows to serve its own malicious advertising, creating a man-in-the-middle attack.
Rainway said it had managed to quell the bulk of the attack by having the adware’s host remove the malicious file. The creators of the malware were also booted off at least one advertising platform.
381,000 reports were received by Rainway, with 78,000 downloads logged by the file host.
The exploitation of popular games and other media by malware writers and bad actors is a tried-and-true method, and interest in Fortnite has exploded in recent months.
Duping fans of the battle royale-style shooting game seems to be a growing attack method, as we reported last week. Many gamers have been conned into downloading fake versions of Fortnite for Android (which has not launched yet).
It’s clear from stories like this that users should exercise more restraint, particularly when it comes to downloading content that is not from the official game developer channels.


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Back to News
STACK Bishop Auckland given go-ahead4th Apr 2023
We’re onboard an ambitious plan to bring a leading leisure brand to Bishop Auckland, County Durham, which has now been given the go-ahead as part of a commitment to make the market town a top visitor destination.
The Danieli Group announced last year its plan to bring its popular STACK brand to the town, not only providing a place for people to eat, drink and be entertained but also a new opportunity for local food operators.
On 23 March 2023, councillors gave the green light to the scheme, which will see the creation of the mixed-use venue at Newgate Street, right in the heart of the town centre.
Following our previous role on STACK Seaburn, one of this site’s two predecessors, we’ve once again been appointed by the developer to deliver civil and structural engineering design.
While STACK Seaburn in Sunderland and STACK Newcastle were created out of shipping containers, STACK Bishop Auckland will be a purpose-built building, housing all of the signature elements that the brand has become renowned for.
The company was appointed as development partner by Durham County Council to bring the scheme to fruition, initially borne out of feedback from the 2019 Town Centre Masterplan which highlighted the need for more leisure outlets.
Neill Winch, CEO of Danieli Group, said:
“We are delighted that the council has given STACK Bishop Auckland the go ahead and recognise what it will mean to the town. Bringing together independent food traders, an outlet for musicians and a venue for special events will provide a huge boost for the local economy. STACK has been a huge success story wherever we have opened and we are looking forward to creating that same excitement – and level of prosperity – in Bishop Auckland. ”
Work should begin immediately with a view to opening spring 2024.
Cllr Elizabeth Scott, Durham County Council’s Cabinet member for economy and partnerships, said:
“We are very much looking forward to welcoming STACK to Bishop Auckland as part of our ambitious plans to regenerate the town. “This will provide a significant boost to the local economy and help to shine a spotlight on the town as a vibrant visitor destination, with its food and leisure offer helping to attract people from across the county and beyond. “As we have seen with other locations in the region, STACK has proved a fantastic starting point from which traders have been able to develop. It has also helped to attract a range of other businesses alongside its own venues, unlocking great potential and opportunities for the region’s economy.”


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The MAIB has found a lack of proper planning resulted in the grounding of the 399-metre container vessel, CMA CGM Vasco de Gama, on the western side of the Thorn…
The findings of an investigation into the listing, flooding and grounding of Hoegh Osaka on Bramble Bank in The Solent have been published.
The container ship APL Vanda was deliberately run aground on West Bramble Bank in the Solent following 'a loss of power'.
An official report has found that the grounding of cargo vessel Lysblink Seaways off the west coast of Scotland, was caused by an inebriated watchkeeper.
The stricken cargo ship Lysblink Seaways is going to be towed to the safe anchorage of Scallastle Bay ahead of forecast bad weather.
Salvors preparing to move the stricken Höegh Osaka cargo ship out of the Solent waters have finished pumping water off the vessel.
Salvors will be using a commercial helicopter rather than sea transport to access the Höegh Osaka cargo ship during rough weather.
The stricken cargo ship Höegh Osaka is currently 'stable' in its new location near Spitbank, in the eastern Solent.
The stricken Höegh Osaka was 'deliberately grounded' in the Solent, a press conference was told.
The car carrier remains grounded on the Bramble Bank, listing at 45 degrees, but out of the shipping channel


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New-car dealers’ share of the retail service and parts business has been steadily declining for the last decade.
In 2000, it was 33.0 percent; last year it was 28.8 percent and falling, reports the Automotive Aftermarket Industry Association. When asked what caused the erosion, research director Ron Rossi told me without hesitation it’s the dealers’ high-priced repairs.
Rossi said the association’s recent study found dealers’ prices on 10 common repairs were an average 34 percent higher than those of independent repair shops.
Sure, dealerships typically have better-trained mechanics, special tools and sophisticated equipment that justify a somewhat higher price. But especially in a depressed economy, budget-conscious consumers aren’t likely to see it that way.


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Giant opens five more former Genuardi’s sites it bought
Five former Genuardi’s supermarkets in the Philadelphia area reopened Sunday as Giant Food Stores.
They’re part of a network of 15 former Genuardi’s locations Safeway Inc. sold to Giant early this year. On July 15, Giant opened the following former Genuardi’s sites:
• 310 S. Henderson Pike, King of Prussia, Pa.
• 2350 Susquehanna Road, Roslyn, Pa.
• 950 Baltimore Pike, Springfield, Pa.
• 1121 Bethlehem Pike, Spring House, Pa.
• 50 E. Wynnewood Road, Wynnewood, Pa.
Remodeling included updates of the produce, bakery, deli, meat-and-seafood departments.
Giant/Martin’s, which is based in Carlisle, Pa., has 200 grocery stores in Pennsylvania, Maryland, Virginia and West Virginia. It is part of the Dutch company Ahold.
Safeway (NYSE:SWY) plans to close its Genuardi’s store in Cherry Hill, N.J., on Aug. 4 and is looking for buyers for stores in Audubon, Pa., and Marlton, Barnegat Township and Egg Harbor Township, N.J.
Other former Genuardi’s stores were acquired by Weis Markets, with three, and McCaffrey’s, which has one.
The Genuardi family started the business in 1920 with a farm near Norristown, Pa., though the first Genuardi’s grocery didn’t open until 1954. Family members sold the company to Safeway in 2000.
Peter Van Allen covers hospitality, marketing and retail.
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New Look has posted a £30m rise in pre-tax profit, taking it to £51m for the full year to March 28.
Revenue at the British fashion chain climbed 3.4% to £1.4bn, while UK like-for-like sales grew 5% during the period.
Underlying operating profit rose 8.7% to £153.2m, with adjusted EBITDA of £212.4m, up 4%.
The news will be welcomed by the young fashion retailer’s new owner, Christo Wiese’s investment firm Brait, which completed a buyout of the business in May valuing it at £1.9bn.
As confirmed to Drapers by New Look chief executive Anders Kristiansen at the time of the sale, the business is expanding in Europe in countries such as France, Poland and Germany, as well as China where it operates 30 stores and wants 70 by March next year. No figures were given for the number of stores being sought in Europe.
Ecommerce played a large part in the results, with online sales up 34% and mobile orders up 115%. Almost 30% of online orders were picked up in store via click-and-collect. New Look is now trading through 11 third party partners including Asos.com and Zalando.
Kristiansen said: “These strong results demonstrate a year of delivery against our strategy. With the support of our new owners Brait, this is a hugely exciting time for New Look, as we continue to focus on our strategic initiatives of brand, multichannel, international expansion, product development and menswear.
“In the UK, a like-for-like sales increase of 5% is testament to our improved brand signature and multichannel strength. In particular, our considerable high street presence has left us well-placed to capitalise on the growing demand for click-and-collect, with over a quarter of online purchases now collected in-store.”
New Look, which operates more than 800 stores worldwide, 569 of which are in the UK, refurbished 291 stores and opened 37 during the period.
It poached H&M’s chief operating officer for menswear, Christopher Englinde, as its new menswear design director in April. He will start his new role in August.


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See what’s hitting store shelves this week from Diamond Select Toys. In Stores Now: The Mandalorian, Bane, Black Panther & More! It’s a big week for comic shops, as Diamond Select Toys and Gentle Giant Ltd. have delivered a treasure trove of new products across North America! With busts, statues, dioramas, and action figures based… Continue reading Diamond Select Toys In Store This Week
A standout wave for the Black Widow film! Earlier this week Hasbro revealed the lineup for the Black Widow wave that’ll be released in the spring of next year. For those who don’t know the Black Widow wave is based on the upcoming film so the wave will be a mix of MCU and comic… Continue reading Marvel Legends Black Widow Wave Revealed!


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Romeo and Juliet from Cuba towards another million in 2021 SHOP
Havana, Dec 12 (Prensa Latina) Romeo y Julieta, Cuba’s second largest store specializing in cigars, rums and coffee, will seek another million dollars in tourism contribution to the national economy in 2021, his manager, Dayán Valdés, said today.
He thanked tourists from Asia, the United Kingdom, Europe, Mexico, Canada and the United States for their confidence in the high-end products sold at the facility and guaranteed the existence in warehouses of the proper amount of inventories to satisfy any demand.
Valdés specified that as a prophylaxis against the SARS CoV-2 coronavirus, which causes Covid-19, Romeo y Julieta was recently validated by the Ministry of Tourism (Mintur) with the most hygienic and safe Tourism certificate (T + HS).
He recalled that this facility is currently the only store of its kind that remains open on the island attached to a factory, precisely the same where the brand of cigars that bears the name of the couple in love, fruit of the imagination of the English playwright, was created. William Shakespeare.
The director of the specialized Caracol branch, Luis Felipe Canitrot, announced that at the end of the first quarter of 2021 the new headquarters of the cigar, rum and coffee shop that invoices the most annually in Cuba (three million dollars), Partagás, will be inaugurated. and it will be located in the oldest area of the Cuban capital, almost next to the world famous El Floridita restaurant.


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While Apple is still dealing with supply constraint issues with its latest iPhones and iPads, Korean news outlet TheElec reported that the iPhone 14 Pro will have a hole-display for its selfie camera. For the first time, both the 6.06" iPhone 14 Pro and 6.7" iPhone 14 Pro Max will feature punch-hole selfie cameras.
The devices are also said to use LG Display LPTO OLED panels with a 120Hz refresh rate. Meanwhile, the non-Pro models will still have a notch and their displays will still be supplied by BOE. The LPTO panels are expected to be supplied to Apple in 2023 at the earliest.


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CAR booters are being told to keep an eye out for rogues selling fake cigarettes and booze over the coming flurry of Bank Holidays.
HM Revenue & Customs (HMRC) will be prowling boot sales across 1066 Country over the next fortnight or so as part of a crackdown on traders selling counterfeit and smuggled cigarettes and alcohol at what may appear to be bargain prices.
Just last year a host of newsagents in St Leonards and nearby Bexhill were hawled before the courts after being found selling foreign fags.
And HMRC is aware of similar deals being offered at boot sales.
A spokesman said: “Like any other counterfeit product, there is no guarantee of the quality or content. Of all the large cigarette seizures HMRC made last year around half were found to be counterfeit.
“They are not genuine cigarettes brought back from holiday but were probably made in back-street or underground factories across the world.
“The profits from tobacco and alcohol smuggling fund other criminal activities including drug and people trafficking, and cause real harm in the local community.”
Anyone who knows of someone selling illegal cigarettes or knock-off drink should call 0800 59 5000 or email firstname.lastname@example.org.