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JAKARTA: At first glance, the small, two-storey shop looks like a cafe.
Nestled inside an Art Deco building in the historic part of Jakarta, the shop is equipped with coffee making tools from manual espresso machines, electric grinders and oversized coffee siphons towering on top of an open bar kitchen.
But there are no coffee beans in sight. Instead, the rows of jars lining the counter are filled with dried turmeric, tamarind, aromatic ginger and a collection of other herbs and spices.
The shop named Acaraki sells jamu, an Indonesian herbal drink normally brewed in roadside stalls or sold by women in traditional Javanese outfits who travel on foot from one neighbourhood to the next.
Indonesians have been drinking jamu for their health for hundreds of years as it is believed to have medicinal properties which can boost stamina, alleviate symptoms and prevent illnesses.
But despite its benefits, jamu is on the verge of being extinct.
“Most Indonesians know what jamu is. They admit that jamu is healthy. But when I asked them if they drink jamu, most of them said no,” Joni Yuwono, who founded Acaraki in 2018, told CNA.
The financial analyst said 70 per cent of the people he talked to are put off by jamu’s bitter taste while 20 per cent said they were scared of trying, and they would like to know what goes into the concoction and how the ingredients are processed before they do so.
The remaining 10 per cent said they were willing to give jamu a try but it was becoming hard to find a jamu shop in a city like Jakarta.
Nova Dewi Setiabudi, an avid jamu drinker, also noted the same thing when she moved to Jakarta from her hometown Surabaya, East Java, in 2009.
“It was hard to find a jamu seller in Jakarta, unlike in the provinces. People here have almost zero passion for jamu, especially among the younger generation. In their minds, jamu is bitter and tastes like medicine. It is a drink for old people and considered uncool,” the businesswoman told CNA.
Setiabudi, and later Yuwono, were bent on making jamu relevant again, particularly among Jakarta’s youths. To do this, they have to get creative.
CREATING JAMU FOR THE YOUNGER GENERATION
One of the first challenges they had to tackle was jamu’s bitter taste.
Yuwono said he took inspiration from the world of coffee. “Most people don’t want to drink jamu because it is bitter. On the other hand, coffee is bitter. Why are people willing to drink coffee and not jamu?” he said.
He realised that many people got hooked on coffee by first drinking frappe, affogato, cafe latte and cappuccino instead of pure black coffee.
“Coffee used to be consumed to keep you awake. But it has since become a lifestyle drink. Why not jamu? Why don’t we try to explore the art of jamu and make jamu into a lifestyle drink?” Yuwono said.
And so Yuwono began to experiment, combining well-known jamu mixtures like “kunyit asam” (turmeric and tamarind) and “beras kencur” (rice and aromatic ginger) with soda, milk and ice cream.
He also wanted Acaraki to have an open kitchen concept so customers can see how their drinks are mixed, brewed and prepared, just like a cafe.
Acaraki uses tools and techniques found in coffee instead of the traditional method of boiling herbs and spices to make jamu.
The techniques allowed the brewer to extract jamu concentration with greater accuracy and consistency and prevent over-extraction, which could make jamu even more bitter.
While Acaraki uses modern tools and techniques and combines jamu with modern ingredients, Setiabudi went on a different route when she founded Suwe Ora Jamu in 2013.
Setiabudi experimented with producing her signature jamu blends to make her jamu more pleasant to drink.
“Our products are actually made out of the same ingredients used by traditional jamu sellers. But they are made freshly, with a hygienic process … they need to taste nice and be well presented,” she said.
LONG ROAD TO SUCCESS
Although an avid jamu drinker, Setiabudi was not a jamu expert.
It took her years of research and experiments before she could come up with her own blend. She opened Suwe Ora Jamu’s first outlet in South Jakarta at the lower half of her graphic design office.
The shop is a far cry from the tiny street-side stalls where jamu is normally sold, decorated to look like a traditional Javanese home with exposed bricks, worn out paints and vintage furniture.
Setiabudi did it all on her own in the early days, serving as the shop’s owner, brewer, cashier and marketing officer.
“In the beginning, the only customers we had were friends of mine or clients of my graphic design office. There were a few stray customers who thought the shop was a cafe. I had to explain to them that we serve jamu,” she said.
Slowly, word got out, Setiabudi said, particularly when Suwe Ora Jamu began staging workshops in jamu making, just months after it first opened.
But back then the people who were interested in jamu were expatriates instead of her intended target market, Indonesian youths.
That changed gradually over time, she said, particularly after she began hosting workshops at schools and universities.
“By 2015, I started to see more and more Indonesians attending my workshop, from school kids to housewife as well as academics,” Setiabudi said.
Suwe Ora Jamu now has seven outlets across Jakarta while its bottled jamu drinks are distributed in Bali, Bandung in West Java and Surabaya in East Java.
“In 2020, because of COVID-19 many of our workshops had to be done online. But because of this, we had foreigners and Indonesians living abroad attending our classes as well,” she said.
The pandemic has caused a renewed interest in jamu as people look for ways to boost their stamina and supplement their nutritional intake.
Graphic design lecturer and avid jamu drinker Sari Wulandari told CNA that with the extra demand there were people looking to start their own jamu business. But some of these entrepreneurs struggled to source the necessary ingredients.
Wulandari - along with Setiabudi and another friend, Enrico Halim - started Jamuuu.com in March and an Instagram account JamuKaka in April to connect jamu makers and herb and spice producers.
An app which will serve as a marketplace for these businesses and farmers is in the works.
“It takes a long time to make an app. But we cannot wait that long because people need jamu to boost their stamina,” Wulandari said.
Jamuuu also came up with its own products.
A hamper containing seven bottles of different jamu blends was launched in May, ahead of the Muslim holiday Idul Fitri. The jamu drinks were meant to be consumed over the course of seven days, each with different medicinal benefits.
“The idea was for people to send Idul Fitri hampers to their loved ones. Sending the hampers was supposed to symbolise that the sender was wishing the receiver good health amid the pandemic,” she said.
In June, Jamuuu launched Sodamu Pop, mixing carbonated water with five different jamu blends of varying intensity.
Wulandari said their sereh telang (lemon grass and Asian pigeonwings) and roselle pandan sodas are popular with beginner jamu drinkers, while the rest - kunyit jahe (turmeric and ginger), cinnamon citrus and exotic spices variants - are popular with the more avid consumers.
“We want people to drink jamu and make jamu as an everyday beverage. There is now no reason not to drink jamu, especially during this pandemic,” she said.
PRESERVING ANCIENT WISDOM
Yuwono said 70 per cent of Acaraki’s customers are teenagers and people in their 20s and 30s. “It is surprising for us too. When we open this we expect old men and ladies coming in,” he said.
The Acaraki founder said youths are even challenging each other to drink shots of sambiloto (green chiretta), a plant known as the “king of bitter” in some countries because of its extreme bitter taste.
Although Acaraki serves traditional jamu mixtures, most customers are drawn to the shop’s “new wave” drinks where jamu is combined with soda, milk or ice cream.
“Many purists will say (the new wave drinks) are not jamu, in the same manner that coffee aficionados will say that frappe is not coffee or tea purists saying that bubble tea is not tea,” Yuwono said.
“These new wave jamu mixtures are entry level jamu drinks. When people start to familiarise themselves, slowly they will try to appreciate pure jamu. It takes time.”
Yuwono said shops like his are creating demands for herb and spice farmers, particularly species and varieties which are becoming rare and on the verge of extinction.
“No one really explores the flavour of jamu. Aromatic ginger which comes from different areas gives out different flavour profiles. Turmeric from Sulawesi and turmeric from Java have different flavour profiles too,” he said.
“The benefits of various jamu ingredients and mixtures have not been fully studied. Our mission is to preserve them so that one day they can be properly researched.”
Setiabudi knows this problem well. Throughout her research on jamu she discovered many forgotten jamu mixtures and ingredients found in ancient texts and relics.
“There are ingredients which are becoming harder and harder to find because nobody grows them any more or because their wild habitat has been converted,” she said.
“There are many things which we need to explore and revive. This is local wisdom, passed down from generation to the next which we need to preserve. If we don’t preserve it then that ancient wisdom will be lost.”
“I hope others will also be inspired to preserve this cultural heritage of ours.”


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Nick Scott, Global Head of Capital Markets at TCS Financial Solutions, considers the future of digitisation and what it will mean for the financial services industry.
“A simple definition of digitisation is the transformation of information into discrete units of data. The financial services industry has been doing this for decades, but the most interesting shift in focus is being driven by the expansion of benefits we can derive from increasing levels of digital content.”
“We mentioned regulation, and this goes far beyond the points made above. We have seen acute focus by government regulators on Financial Crime Compliance with the largest industry fines being levied in this domain. The industry has focused on increasing the digital data that helps automate controls in this area, while reducing the extreme levels of process duplication that existed.”
“We need to enable products and solutions around mobile devices – this clear trend will be accelerated by the shift towards mobile and contactless payments.”

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Down remains, arguably, the most efficient insulator available (although Aerogel with its amazing 95% air content, is trying), with which to make cold weather garments, sleeping bags and bedding, ). And according to
Today is human trafficking awareness day—and although for many that conjures up images of people trafficked for sex, most people forced into slavery today (which does exist) are trafficked for purposes that
For seven years Mark Stone was an important and serious environmental activist. According to the Guardian, he took part in every major protest in the UK from 2003 onwards and traveled abroad to demo's as well.
From a psychological and metaphysical perspective global climate change, just a symptom of the greater problem of unsustainable resource usage by humans, isn't a problem of greenhouse gases, it's a problem of lack of empathy and the triumph of
Do you ever wonder who makes the stuff you buy? Ever want that farmer's market feel, where you connect with the source of what you're buying, but for all the non-food goods in your life? That satisfaction is increasingly hard to
Not being fans of killing animals as a pleasure activity, we quite like designer Rohan Chhabra's Embodying Ethics he presented at this year's Designersblock at the London Design Festival. Hanging in his exhibition space you
Each year in the EU nearly 12 million animals are experimented upon in the name of scientific research - but all that is set to change as stricter legislation on testing was passed today by the European Parliament. Among the


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with Syd Arthur
Thursday, Apr 17, 2014 9:00 PM PDT
(7:00 PM Doors)
Pappy and Harriet's Pioneertown Palace, Pioneertown, CA
Fans have dreamed about it for years, and now Pixies are delivering. Indie Cindy, the band’s first full studio album since 1991’s Trompe le Monde, will be released in late April (April 23/Japan, April 28/UK/Europe/International, April 29/North America) on the band’s own independent label, Pixiesmusic (marketed and distributed worldwide by [PIAS] Recordings). Pre-orders for most configurations can be placed beginning today at iTunes, Amazon, and other online retail outlets.


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Well, Trump has started World War III.
Sure it's "only" a Trade War, at the moment but that's how World War I started and this trade war is far bigger than that and the second biggest trade war in the 20s and 30s led to the Great Depression which clearly led to World War II so I don't think I'm jumping the gun declaring this World War III – just give it some time...
One good thing about wars is they create a lot of jobs and also they create a shortage of workers so we will be sick and tired of all the "winning" as this thing drags along over the next few years. Trump is heading off to kiss Putin's ring in 10 days and, now that he's declared war on Europe and China, Trump will make a trade pact with Putin (who we're supposed to be santioning) and declare it a victory for America and half the people in the country will actually believe that. No really, they will!
We shorted the Russell (/RTX) futures early this morning at 1,685 and they fell back below $1,680 for quick $250 per contract gains and the 8:30 Non-Farm Payroll Report showed 213,000 jobs added in June so the Futures are heading back up and hopefully we can short them again at about the same highs (1,690) or short the S&P (/ES) futures back at 2,745 as there's really nothing good about any of this as the strong jobs keeps the Fed on the table despite the tit for tariffs going on in the background.
The market is still complacent as China has not officially retaliated against our initial $34Bn worth of tariffs (at 25%) but the People's Daily (official paper) said the customs agency was carrying out a plan announced last month to impose 25% tariffs on a $34 billion list of American goods including soybeans, pork and electric cars.
Trump has already announced another $16Bn worth of tariffs to begin in two weeks and says the US is ready to trigger another $200Bn worth of immediate tariffs followed by another $300Bn more if Beijing does not yield bringing the potential total to $550Bn, more than the $506Bn worth of goods China shipped to the US last year (half was from iPhones and such we asked them to make for us, so imagine what complete assholes we look like to them!).
Imagine that you are running a business and you get a new CEO who gets angy and calls your manufacturing partner and complains that you buy a lot of stuff from them (the things you sell) but they don't buy enough stuff from you to balance things out. Let's say you sell fish tanks and they make 100,000 fish tanks a year for you for $200 each so $20M but they "only" bought 10 fish tanks from you for $2,000 – so you have a trade imbalance with your manufacturer of $19,998,000, right?
Your new CEO says you can't tolerate this so he puts a tariff on fish tanks of 25%, a tax he will collect and give to the Top 1% Board Members in the form of tax breaks and the 25% will either come out of company profits or be passed on to your customers and he will keep the pressure on the manufacturer until they start buying another $19,998,000 worth of fish tanks.
That would clearly be insane, right? All of your customers would be hurt, your company's profits would take a dive and the only people we're helping are the people who get tax breaks paid for by the tariffs which is really just another way to transfer money from the poor to the rich from our con man President.
And no, it is not "more complicated" than that. In a truly free economy, we buy what we need from the low-cost producers and sell to the customers that are willing to pay and EVERY SINGLE TIME Governments have attempted to interfered with that process has led to a complete and utter economic disaster.
But this trade policy is not about "fixing" anything other than robbing the poor and giving to the rich along with forcing a situation in which a trade deal (rather than sanctions) with Putin suddenly seems like a "win" for our puppet President.
I'm disgusted – how about you?


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Luminar Technologies Inc on Thursday delivered third-quarter sales that were below Wall Street expectations, sending its shares down 2% in after-hours trading.
Luminar makes a lidar sensor that helps self-driving cars and driver-assistance systems gain a three-dimensional view of the road. It has a deal with Volvo to put its sensors on the road starting next year.
Sales for the quarter ended Sept. 30 totaled $8 million and adjusted losses were 10 cents per share. Analysts had expected sales of $8.89 million and adjusted losses of 10 cents per share, according to IBES data from Refinitiv.
Luminar said it was maintaining its full-year sales forecast of $30 million to $33 million. Analysts expect full-year sales of $31.17 million, according to Refinitiv data.
Read all the Latest News, Breaking News and Coronavirus News here. Follow us on Facebook, Twitter and Telegram.


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SAVANNAH, Ga. (AP) — Hyundai Motor Group and LG Energy Solution said Thursday they will spend an additional $2 billion and hire an extra 400 workers to make batteries at the automaker’s sprawling U.S. electrical vehicle plant that’s under construction in Georgia. The announcement by the South Korea-based companies –…Read More
FAYETTE COUNTY, Ga. - The thefts of the Kia and Hyundai vehicles have moved out of the heart of Atlanta and into the suburbs.
QUEENS, New York (WABC) -- A deadly accident on the Belt Parkway in Queens left one person dead and another in serious condition early Saturday morning.
DALLAS -- Car shoppers are heading for a new round of sticker shock if the strike by the United Auto Workers doesn't end soon, particularly for popular vehicles that are…


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500 Fifth St, NW
Washington, DC 20001
The latest news from HMD, including information about new reports, activities, meetings, and other noteworthy events.
Displaying: 1 to 2 of 2 News and Announcements
Most Americans and Canadians up to age 70 need no more than 600 international units (IUs) of vitamin D per day to maintain health, and those 71 and older may need as much as 800 IUs, says a new IOM report.
Vitamin D and calcium have been the focus of much research since the IOM set nutritional reference values for them in 1997. Known as Dietary Reference Intakes, the values for these and other nutrients serve as a guide for good nutrition and provide the scientific basis for the development of food guidelines in both the United States and Canada. Updated DRIs for these two nutrients are presented in a new IOM report, Dietary Reference Intakes for Calcium and Vitamin D, which will be released on Tuesday, November 30.


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Andre Azevedo, CEO at Ancoris, explains how the company’s new GreenLab Google Cloud service helps organisations to understand the actions they can take around their IT infrastructure to achieve their sustainability goals, with cloud migration a high priority for many.
Wes Van Den Berg, Vice President and General Manager, UK&I, Pure Storage, provides an update on recent developments at the company, including the launch of the FlashBlade//S family of products and the introduction of the Evergreen//Flex.
Neil Cornish, Ecosystem Development Manager at Tech Data UK, discusses the collaboration between the UK Fashion & Textile Association, IBM, the Future Fashion Factory and Tech Data UK, to develop a new technology platform designed to help drive both sustainability and profitability within the fashion supply chain.
Piers Wilson, Head of Product Management at Huntsman Security, discusses the importance of carrying out a ransomware readiness assessment to discover any potentially costly security gaps within an organisation’s IT infrastructure. The company’s recently launched SmartCheck for Ransomware is designed to help companies fortify their cyber risk management.
Rittal is expanding its smart cooling unit solutions by adding the new Blue e+ S range. The companies latest generation of cooling units with their lower output categories of 300, 500, and 1,000 W have been designed for efficiency, ensuring a smaller footprint and lower costs – just like their “bigger brothers.” So it’s a win-win both for users and for our future.


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On the eve of Apple’s big iPhone reveal event for 2020, a new leak is claiming that the rumored HomePod mini and Apple TV will be host to some impressive tech. Specifically, the leak tells us that both of these products will act as Ultra Wideband (UWB) base-stations. When used in tandem with other devices using Apple’s U1 chip, the HomePod mini and the new Apple TV will be able to track where those devices are.
The leak was reported in a series of tweets by Jon Prosser. In addition to being able to provide precise location info, Prosser also says that these UWB hubs can turn “regular hardware into HomeKit hardware,” and that they’ll allow users to track their U1 devices in the Find My app. Finally, Prosser also says that these base-stations will be “a very clever Trojan horse from Apple that will enable AR capabilities in your Find My app within your home.”
Equipping these products with UWB support could indeed be a big deal once Apple builds out its lineup of U1 devices. For the moment, only iPhones released in 2019 and the Apple Watch Series 6 have a U1 chip, but we’re expecting the iPhones that are on deck for reveal tomorrow to have a U1 chip at their core too.
As more and more Apple products launch with a U1 chip, the UWB capabilities of the HomePod mini and the new Apple TV could begin to shine. For instance, once the HomePod mini detects that you’ve left the house with your iPhone, it could use HomeKit to lock the doors behind you. It could also allow for device tracking that’s much more precise, making it easier to find an iPhone or Apple Watch in the event that it’s lost.
In the case of the HomePod Mini, we should learn if this leak is true very soon, as Apple is widely expected to launch the new smart speaker during its iPhone reveal event tomorrow. For now, take what’s claimed in this leak with a grain of salt, because nothing is confirmed until Apple gets up on stage and announces it.


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Well, Canada, you got to experience the joys of Target shopping for almost two years, but no more. The company has decided to pull itself out of the country after first launching there in March 2013, it announced today. Brian Cornell, Target Corp. CEO since last summer, explained in a statement that after careful review, "we were unable to find a realistic scenario that would get Target Canada to profitability until at least 2021," though he admitted the decision to shut down Canadian operations was "very difficult." The cash cost to the company to shut down its 133 stores, which employ about 17,600 people, will be between $500 million and $600 million, according to the Toronto Star.
The stores will stay open during a liquidation period to be supervised by the court, but it sounds like Canadians may not even want to do any last-minute shopping: The Globe and Mail notes that there have been many complaints of bare shelves, high prices, and products not being carried north of the border. As for the workers, "nearly all Target Canada-based employees receive a minimum of 16 weeks of compensation, including wages and benefits coverage for employees who are not required for the full wind-down period," the company says. The company's failed foray into Canada, one Vancouver retail consultant hypothesizes, will "be seen as one of the all-time retail blunders." (Read more Target stories.)


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- Tram Ho
Samsung will hold an Unpacked event on February 9 to launch the new Galaxy generation, and the advertising campaigns for the Galaxy S22 series have officially begun.
The tech giant has rolled out 3D billboards across major cities around the world including New York, London, Dubai, Kuala Lumpur and Seoul. The ad depicts a tiger clicking the video record button, purporting to highlight the ability to record high-quality video in low light on the upcoming S22 series.
Using the tiger image is also a way for Samsung to celebrate the Lunar New Year taking place in many countries, including Korea, which is Samsung’s hometown. At the end of the video is the line “Are you ready to break the rules?” and the tiger will jump forward, thanks to the 3D effect, it looks like it is “breaking” the screen and jumping out.
In a news related to the S22, leaker Roland Quandt said that Samsung will launch a 1TB version of the S22 Ultra, but will be limited to certain markets.
Source : Genk


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Nokia (NOK) just issued a positive fourth-quarter warning in Helsinki, stating that the Mobile Phones unit and Lumia phones beat company expectations. The reported Lumia shipment volume of 4.4 million units is very close to the European sell-side consensus expectation; actually 100,000 units above the mid-December consensus.
Nokia’s share price has plunged over the past three days due to rumors about a cheap iPhone from Apple. Now, Nokia’s stock price shot up 14% in Helsinki after the new comments from the company came out. Lumia volume of 4.4 million units for the Christmas quarter is an undeniable relief — but it also probably was heavily propped up by the deeply discounted old Lumia 800. We’ll have to wait and see to get more information about the Windows Phone 8 volume. This is the first quarter when Windows phones outsold Symbian models at Nokia – a new era has begun. The combined Windows, Symbian and Meego sales were 6.6 million units.
The decision to lump Asha sales into “smartphone” category will be controversial. Asha phones were a big hit for Nokia in Asia and Latin America during 2012. They helped Nokia reverse its market share losses in India and deliver two consecutive volume surprises in the second and third quarters last year. The Asha device volume in 4Q12 was 9.3 million units. This is now a crucially important category for Nokia, since Asha phones have ASP level far above the rest of Nokia’s feature phones – the best-selling Asha 311 retails at around $130 in many markets.
But Asha models are built on the S40 operating system and are widely viewed as feature phones by most industry research houses. Nokia is arguing that since you can now have fairly advanced email features, popular apps and games in Asha phones, they actually are smartphones.


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Recently we have seen many leaks and rumours about a new Samsung smartphone with dual camera setup on the back.
Now we have some solid information about the upcoming Samsung Galaxy J7+ with dual camera setup on the back. The smartphone has been leaked in Thailand. It will be available for
As expected, yesterday at an event in New York City, Samsung has officially wrapped off it's next flagship that is going to stand against the likes of iPhone 7s and iPhone 8.
The Samsung Galaxy Note 8 brings design elements inspired by the Galaxy S8 and Galaxy Note 7. It is
It is well known to everyone in the tech industry that the upcoming Samsung Galaxy S8 and Galaxy S8+ are going to be one of the hottest and most awaited Android smartphones this world has ever seen. This has a major reason and that is the battery fiasco of Samsung
Chinese start-up turned smartphone maker OnePlus released the Big brother variant of Oneplus 3 as the OnePlus 3T. The OnePlus 3T was introduced back in November with Snapdragon 821. The OnePlus 3T was launched in Soft Gold and Gunmetal colour variants. In terms of storage, it came with 64GB/128GB of
HTC announced their new 'U' series of smartphones earlier this month. The first smartphone was HTC U Ultra as flagship device from the company.
Now the company has confirmed the availability of the special Sapphire Glass Edition of HTC U Ultra. The Sapphire Glass Edition of HTC U Ultra comes with


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The nationwide soccer league (NFL) has lastly lifted the embargo on groups’ involvement in crypto-related actions.
In a memo launched on Tuesday, the NFL said that groups will now have permission to hunt blockchain partnerships. However this doesn’t embody stadium signage, and the golf equipment received’t nonetheless be allowed to instantly promote cryptocurrencies.
This determination modifies the earlier outright ban of cryptocurrency sponsorship imposed in August 2021. Then, the NFL banned groups from promoting non-fungible tokens (NFTs) because it claims to be creating a method.
However with the extent of success and progress the house has seen in current occasions, the change in its method just isn’t totally stunning.
In keeping with the NFL, it claims that it has lastly evaluated the expertise and can now allow “promotional relationships with out endeavor extreme regulator or model threat.”
NFL locations stringent restrictions on crypto sponsorships
Nonetheless, there are many different restrictions in place. The top of client merchandise at NFL, Joe Ruggiero, informed CNBC that the sponsorship offers are to not exceed three years in order to make sure flexibility.
The brand new guidelines will solely permit groups to promote NFTs and the businesses behind the undertaking. However they’ll’t use their official logos and different markings within the adverts. Groups can’t enter any product licensing preparations or sponsorship with NFT or NFT firms.
This strict stance on NFTs is because of NFL curiosity in non-fungible tokens house. Per out there data, the league has entered right into a partnership with main NFT firm Dapper Labs.
Final 12 months, it gave the crypto agency the rights to create NFT collectibles utilizing memorable moments from earlier video games.
It additionally partnered with buying and selling card firm Panini to develop its first NFT buying and selling playing cards.
No fan tokens
One other space the place there are nonetheless restrictions is on fan tokens. This isn’t stunning, on condition that the efficiency of sports activities fan tokens has been far beneath expectations in current occasions.
Consequently, most fan tokens haven’t been of worth to sports activities followers and have grow to be simply one other speculative asset with a excessive potential for loss.
Nonetheless, the NFL hasn’t simply been evaluating the crypto house; it’s additionally making strikes to capitalize on the expertise. In truth, it has lobbied the White Home, Division of Justice, and the Securities and Alternate Fee on issues regarding blockchain expertise.
It additionally experimented with NFTs throughout a few of its video games final 12 months, together with Tremendous Bowl LVI the place a variety of crypto corporations promote their companies through the platform.


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PR pros tout truth and transparency for their organizations and clients, but more than a quarter of them will use dishonest measures to achieve their goals.
A survey of PR pros by Bospar and Propeller Insights revealed that the majority of PR pros (roughly 75 percent) believe that cheating, lying, stealing and taking credit for other people’s work are dishonorable actions. Nearly the same amount (72 percent) said that creating “fake news” is wrong.
However, 28 percent of PR pros are willing to manufacture news if push comes to shove.
In addition, more PR pros are willing to potentially cross an ethical line when it comes to particular elements of fake news: More than half are willing to tell white lies (54 percent) or use click-bait headlines (55 percent). Fifty-one percent don’t think it’s wrong to sensationalize news that is otherwise dry or boring.
This mindset can cast PR pros in a negative light and further erode relationships between consumers and brand managers—as well as PR pros and reporters.


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TRUCK-MOUNTED KNUCKLEBOOM CRANES HAVE BECOME ACCEPTED AS AN ESSENTIAL PART OF THE HEAVY MOVING AND LIFTING ARMOURY, WITH MOST OPERATORS HAVING AT LEAST A HANDFUL OF THESE VERSATILE DEVICES IN THEIR FLEETS. MARGO COLE LOOKS AT HOW THE UK MARKET HAS EVOLVED FOR ITALIAN CRANE MANUFACTURER PM GROUP.
PHOTOGRAPHY: CRAIG PUSEY
What has become evident over the past few years is that operators are keen to get the maximum capacity they can when they opt to fit a crane on one of their haulage trucks, according to Giovanni Tacconi, sales director of Italian crane manufacturer PM Group. “We sold about 2,200 cranes last year, compared with 2007, when we sold almost 4,000 units,” he explains. “The [financial] crisis has changed the dimensions of what we are selling: there is less quantity, but the average cost has gone from €18,000 to €30,000.” Prior to the crash in 2008, he says, the company’s most popular truck-mounted crane models were in the medium range, with lifting capacities up to around 35 tonne/m. Now the models in the heavy range are the biggest sellers. “Ten years ago, the [71 tonne/m-capacity] PM85SP was the biggest crane we made; now it’s the PM210SP,” says Tacconi. The PM210SP, which weighs in at around 12 tonnes, can be configured for a capacity of up to 150 tonne/m.


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By Aisling Finn on Monday 6 July 2020
According to the study, nearly a third of UK consumers use their overdrafts to manage financially.
Nearly half (42 per cent) of UK consumers don't know they are being charged to use their overdrafts according to new research from financial management app Yolt.
The research showed that the majority of UK consumers (60 per cent) regularly dip into their overdraft facility but are unaware of how much they are being charged to do so.
The new regulations could see banks charge up to 39.9 per cent Effective Annual Rate (EAR) on unarranged overdrafts.
With the spread of the coronavirus, the FCA told banks to stop the introduction of the higher overdraft fees to protect the financially vulnerable.
However, on Friday last week, the FCA announced that banks could reintroduce the higher fees.
According to the study, which was carried out on over 2,000 nationally representative participants, over a third (34 per cent) of people rely on their overdrafts at least once a month and nearly three-quarters of us (72 per cent) fall into our overdrafts at least once a year.
Perhaps more concerningly, nearly a third of consumers (32 per cent) say they rely on their overdrafts to manage financially.
Pauline Van Brakel, chief product officer at Yolt, said: “The hike in overdraft interest rates is a disappointing and unwelcome sting for many people who are already feeling the financial impact of COVID-19.”
“It’s worrying to see a large proportion of people are unaware that their overdraft fees may increase, some close to 40%, and I suggest people use the coming days to double-check these potential changes with their bank, to assess how it may impact them.”
With the economy not back up and running yet and millions still without a job, the reintroduction of the higher fees could be particularly worrying for some.


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Last month www.uncut.co.uk ran a competition to giveaway five copies of the new Ramones double DVD “It’s Alive 1974-1996, along with some fun electronic drumsticks.
We asked: In the current series of Entourage, Vincent Chase is set to star in a biopic of the Ramones – What is it called?
The answer was: I Wanna Be Sedated.
Five winners, whose prizes are now on their way, are:
1. Michael O’Sullivan, Hanwell,London.
2. Julie Basstone, Colne, Lancashire.
3. Sophie Ward, Southampton, Hants.
4. Ralph Wilkins, Norwich, Norfolk.
5. Steve Harris, Bilston, West Mids.
To see a trailer for the Ramones DVD and to see the original competition click here.


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Airtel Lifesaving Wallpapers is a mobile-first site, which embeds emergency info on mobile wallpapers, irrespective of your phone or network
The account will continue to be handled out of Gurgaon office
The DLF subsidiary failed to make full payment to Lowe Lintas for work carried out when it handled the creative account for Gurgaon-based DLF Utilities
Mahapatra, who joins from Uber India, will lead all of Nissan’s communications in India including product, corporate and plant communications and CSR activities
In wake of the Rs. 500 and Rs. 1000 ban, Pizza Hut delivered pan pizzas worth 5 lakh at select bank branches across Delhi, Mumbai, Gurgaon, Pune and Bengaluru
Several e-commerce startups are either consolidating or are shedding office space they might or have leased in the industry’s dramatic growth phase.
If there's anyone Singh has scores to settle with after his first week at Cheil, it's got to be the caretaker of the parking lot
FabAlley plans to aggressively expand offline across the country with 40-50 more shop-in-shops
Count Homestead India's luxe project is named 'Ballet by Sharapova'.
To open around 200 restaurants under the 'Nukkadwala' brand across the country by the end of 2019
From the newsroom of The Economic Times
From BE's News Desk ›
- Somany Ceramics' new ad campaign promises tiles that can match every personality
- Timex Blink's ad campaign promises to fuse fitness, fashion and safety together
- Lifestyle's Ginger is calling out unfairness around 'fairness', sexuality and more in its new campaign
- VIP Industries replays its iconic jingle 'Kal Bhi, Aaj Bhi, Kal Bhi VIP' in a new TVC
- The new #BourbonFriendsForever campaign celebrates the 'true spirit of friendship'
- India perfect market for Keshet: CEO
- Chlorophyll's Kiran Khalap is now on the board of Meraki Sport & Entertainment
- 'Who are you when you are hungry?', asks Snickers India
- Fura Gems ropes in Rupak Sen and Armando Diaz in key roles
- ITSA bags Bonjour India’s creative duties


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The Tesla Roadster is expected to be the car that would prove once and for all that fossil fuel-powered vehicles are going the way of the dinosaurs that they use to propel themselves. The all-electric supercar is poised to be equipped with several unique features, such as optional SpaceX-inspired cold gas thrusters, a possible jack for Elon Musk’s Neuralink initiative, and as noted recently by the CEO himself, racecar-esque one-nut wheels.
Elon Musk’s recent statements about the Roadster’s wheels were posted on Twitter, with the CEO stating that the upcoming halo car will feature F1-style centerlock wheels. “My favorite is one in tension, other DoF in compression. New Roadster wheels will only have one nut,” Musk wrote. And ever the meme-lord he is, the CEO later jested that yes, the Roadster, due to its centerlock wheels, will have “huge nuts.”
Nutty jokes aside, Tesla’s utilization of a single-nut wheel design could allow the new Roadster to optimize its performance even more. Such types of wheels are typically used in racing events like Formula 1 and, more recently, NASCAR, since they could be easily removed during pit stops and they provide ample space for large brakes and calipers.
It’s not just vehicles in actual racing events that are equipped with centerlock wheels either. Some of the most notable high-performance production supercars also featured the same single-nut design, like the Koenigsegg One:1 and the legendary Porsche 918 Spyder. With its goals in mind, the new Roadster’s centerlock wheels are pretty much well within character.
The next-generation Tesla Roadster was unveiled back in 2017, and it shocked the automotive world with its industry-leading and nothing-short-of-insane specs. Interestingly enough, a later interview with Tesla Chief Designer Franz von Holzhausen revealed that the production version of the vehicle will be better in every way compared to its already-stunning prototype.
Elon Musk has noted that while the new Roadster is more like the “dessert” to Tesla’s main course of vehicles like the Cybertruck and the Model Y, the all-electric supercar is still a key component of the company’s vision. Tesla has taken some steps towards the Roadster’s production as well, with Elon Musk stating during the Q2 2020 earnings call that the vehicle will likely be produced in California.


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Somany Home Innovation Ltd, maker of Hindware Appliances, is expecting a 30-35 per cent growth in business this year backed by a surge in demand for home appliances such as dishwashers, cooking appliances and other home improvement products.
The company had registered a growth of around 20 per cent to ₹450 crore in 2019-20 over the previous fiscal.
According to Rakesh Kaul, CEO and whole-time director, Somany Home Innovation Ltd (SHIL), with people spending a significantly large amount of time at home in the wake of the Covid-19 pandemic, there has been a demand for various home improvement products over the last couple of months.
Apart from launching variants of existing products such as dishwashers to cater to the diverse needs of customers, the company is also looking to introduce certain products specific to the current requirements. Plans are afoot to launch a vegetable, fruit and meat purifier, which would remove impurities through ionisation process.
“Though consumer appliances fall under discretionary spending, with people spending a lot of time at home, there has been a spurt in demand for home improvement products including chimneys, cooktops, water purifiers, dishwashers etc. In fact, we witnessed close to 20 per cent growth in July and 30 per cent in August on a year-on-year basis. We expect the growth momentum to continue,” Kaul told BusinessLine.
SHIL will further continue to invest in air and water treatment solutions moving forward and would look to launch appropriate solutions at an “opportune time”.
The company further expects sales to pick up during the festival season this year despite the challenges induced by the pandemic.
According to Kaul, consumers who would otherwise spend on apparels, fashion jewellery etc during the festive period, would also prefer spending on home appliances as they would largely prefer staying indoors.
“We have a strong feeling that despite the challenges of the pandemic this is going to be an exciting festive period for us and we expect a surge in demand during September-December. The growth during festival period this year is likely to be around 45-50 per cent over same period last year,” he said.
E-commerce would drive a large amount of sales in the category moving forward. The contribution of e-commerce, which was around 18-20 per cent of its total sales last year, has witnessed a surge and increased to nearly 34 per cent since May-June this year, he said.
Ramping up domestic manufacturing
SHIL, which has close to 60-65 per cent of its products manufactured domestically, is looking to ramp this up to 90-95 per cent in the next two years.
Imports, particularly from countries like Turkey, Brazil and China, currently accounts for close to 40 per cent of its total production. “We are increasingly looking at localising our production in India and we expect that in the next two years, around 90-95 per cent of our products would be made in India,” he said.-The Hindu Business Line


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Dec 23, 2009
Dec 23, 2009
Christmas shopping fever only an illusion in Mexico
Dec 23, 2009
Dec 23, 2009
MEXICO CITY (Reuters) - Mexican stores are packed with shoppers this Christmas, but slashed prices and big promotions mean cash registers are ringing up meager sales, underscoring a fragile recovery from a punishing recession.
From Wal-Mart de Mexico, the country's biggest retailer, to informal street vendors, retailers are cutting prices to lure customers -- some hoping to increase market share and others just struggling to stay in business.
"The stores may be clogged but what are people buying? They are going for the goods marked with a super-discount or super-promotion," said Raquel Moscoso, an analyst of consumer consumption at Ixe Financial Group.
"Everybody is literally slicing the pie ever thinner and in many cases they are sacrificing margin for volume," she said.
Customers like Teresa Saldivar illustrate the retail climate. "Just a few days before Christmas, everything I've come across is discounted. It's great. Now is a good time to buy," said Saldivar, 76, shopping at an upscale department store despite living on a small pension.
Since the global credit crisis threw Mexico's economy into a downturn last year, retailers like Wal-Mart de Mexico, Soriana and Comercial Mexicana have held off on price increases to keep traffic moving through their stores.
"We're offering three-day sales to move items that we would have sold quickly without promotions in past years," said Gustavo San Vicente, a salesman at a luxury department store in Mexico City.
Mexico's economy is expected to have shrunk 7 percent this year after slumping U.S. demand for its manufactured exports threw it into a deep recession. In recent months, the economy has begun to recover thanks to increasing industrial output, but consumer spending remains extremely weak.
NOT SO MERRY
With unemployment well-above pre-recession levels, few Mexicans have more money in their pockets this Christmas than a year ago when the world was in the grip of the economic crisis.
"We are only buying necessities like clothes or food, but not gifts yet. The truth is we are worse off now than last year," said Beatriz Vasquez, who has a job but is worried she won't receive her customary Christmas bonus.
In the most recent data available, October retail sales in Mexico were down 0.51 percent from September.
Mexico's thrifty shoppers and narrow profit margins contrast sharply with Brazil, where holiday cash registers are ringing and the fast-rebounding economy is expected to grow around 5 percent in 2010.
Some of the largest Brazilian shopping mall operators expect an increase of 35 percent in sales this Christmas, with most of that coming from middle- and low-income consumers who held onto their jobs through the country's short-lived recession at the start of the year.
"Things are booming in a way I've never seen before," said Edison Couto, a doorman shopping in Sao Paulo for baby clothes, toys and a blender. "For the first time in years I have enough money to buy lots of things."
In Mexico, retailers are expected to have a lackluster 2010 as the economy recovers only slowly.
UBS said in a recent report it expects industry leader Wal-Mart de Mexico's same-store sales, a measure favored by analysts because it reflects operating trends, to grow 5 percent in 2010, not much more than inflation.
Analysts say manufactured exports will continue to lead the way in Mexico's economic recovery. While exports are a smaller part of the economy than consumer spending, they would benefit quickly from growing demand in the United States.
"Consumption is not going to be the most important engine for the recovery," said Sergio Kurczyn, an economist at Banamex.
"The growth engine will continue to be what it has been over the last 15 years -- growth in exports," he said..
(Writing by Noel Randewich and Patrick Rucker; Additional reporting by Guillermo Parra-Bernal in Sao Paulo and Gabriela Lopez in Monterrey; Editing by Leslie Adler)
© Thomson Reuters 2023 All rights reserved.


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- Recipes for homemade hand sanitizers are available online, but experts say those DIY products may not be the best option during the coronavirus disease outbreak.
- They say the recipes are too complicated for most people, and products that are mixed incorrectly can cause burns or other issues.
- The experts say washing your hands with soap and warm water is the best way to protect against COVID-19.
FDA NOTICEThe Food and Drug Administration (FDA) has announcedTrusted Source a nationwide recall of certain bottles of Saniderm Advanced Hand Sanitizer (1 liter) due to the potential presence of methanol.
MethanolTrusted Source is a toxic alcohol that can cause adverse effects, such as nausea, vomiting, or headache, when a significant amount is used on the skin. More serious effects, such as blindness, seizures, or damage to the nervous system, can occur if methanol is ingested. Drinking this hand sanitizer, either accidentally or purposely, can be fatal.
If you purchased this hand sanitizer, you should stop using it immediately. Return it to the store where you purchased it, if possible. Ask your healthcare provider any questions you may have about the safety of the hand sanitizer you use. If you experienced any adverse effects from using hand sanitizer, call your healthcare provider. If your symptoms are life threatening, call emergency medical services immediately. For more information on how to spot safe hand sanitizers, see here.
As hand sanitizers become more difficult to find, experts are warning consumers to be careful about making their own or mistakenly buying do-it-yourself versions made by amateurs.
They say that proper handwashing and social distancing are the best ways to stop the spread of the novel coronavirus.
“Clean hands are a very important way to prevent infection or spread, especially with viruses like the coronaviruses, which can survive on surfaces or inanimate objects for hours to even a day or more,” Stephen Morse, PhD, MS, an infectious disease expert from Columbia University in New York, told Healthline.
“Alcohol-based sanitizer containing at least 60 percent ethanol, preferably at least 62 percent or at least 70 percent isopropanol, is officially recommended,” he noted. “It will kill coronavirus in 15 to 30 seconds, about the time it takes the alcohol to evaporate after it’s applied, so wait for it to evaporate naturally. Sanitizers are not magic. They’re really mostly for convenience, to encourage you to have clean hands when you don’t have access to soap and water or don’t have time to wash.”
Hand sanitizers are a hot commodity in stores and online, with reports of price gouging on Amazon and products being advertised for 50 percent higher than normal.
“That’s really nasty, people taking advantage of everyone’s anxiety and good public health practice to make an extra dollar,” Dr. William Schaffner, an infectious disease specialist at the Vanderbilt University Medical Center in Tennessee, told Healthline.
“I’m really unhappy with that and particularly so since obviously all these interventions to prevent the spread of coronavirus have adverse economic effects,” he added. “There are many people who will have a reduction or some people will even lose their salaries during this period of time.”
Dr. Jaime Friedman, a pediatrician from San Diego, is hopeful President Trump’s declaration last week of a national state of emergency over the COVID-19 outbreak will help combat the price gouging.
“I think it’s terrible. Vulnerable people, like the elderly who may be on a fixed income, are not able to afford inflated prices,” she told Healthline. “Now that there is a national state of emergency, this is illegal and hopefully offenders will be prosecuted to the full extent of the law.”


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WhatsApp users have been able to link multiple devices to their account for some time, but in addition to one phone, this was only possible on computers and tablets, not yet on other phones. Now there is also the possibility of using the same account with multiple smartphones, reports WhatsApp. This update is currently being rolled out globally and will be available to everyone in the coming weeks.
When adding an account that is on another phone, users are provided with a QR code that they must scan with the device they are currently using WhatsApp on. After that, the account will be linked to the new phone.
The functionality will be available on both iOS and Android in the coming weeks, and it is possible to combine iPhone and Android devices. Messages are synced between different devices.
Unplug when idle
Starting today, you can log into the same WhatsApp account on up to four phones. He says Meta CEO Mark Zuckerberg. If the primary device is “inactive for an extended period of time”, WhatsApp will automatically log the user out of all linked devices. Paired devices also automatically disconnect after 30 days of inactivity.
The feature also allows companies, for example, to allow multiple employees to use WhatsApp with the same company number. Your employees can now communicate directly with customers on their phones using the same WhatsApp Business account.
“Subtly charming tv fanatic. Introvert. Thinker. Alcohol maven. Friendly explorer. Certified coffee lover. Infuriatingly humble food junkie. Typical reader.”


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Facebook hackers hit Apple's Mac computers
Apple computers hit by same Java exploit used to attack Facebook's systems.
Apple has suffered a sophisticated hack on its systems, which is thought to have been carried out by the same group who targeted Facebook last month.
The iPad and iPhone maker said it had called in law enforcement agencies to investigate the breach, as reports emerged the gang responsible could be behind incidents involving "hundreds of companies."
The attack used the same OS X malware and zero-day vulnerability in Java to attack Apple as it did with Facebook.
"This is the first really big attack on Macs," a source told Reuters. "Apple has more on its hands than the attack on itself."
Apple has released a Java malware removal tool to OS X users that will prevent them from being attacked in the same way.
In a statement, Apple said it had identified malware “which infected a limited number of Mac systems through a vulnerability in the Java plug-in for browsers.
“The malware was employed in an attack against Apple and other companies, and was spread through a website for software developers. We identified a small number of systems within Apple that were infected and isolated them from our network," it added.
The firm said there was “no evidence that any data left Apple.”
In a blog post, IT security company F-Secure said the malware could have installed a backdoor via the installation of an SSH Daemon. This would allow cybercriminals to control a victim’s Mac remotely.
F-Secure’s Sean Sullivan added that Mac owners tend to have a “false sense of security.”
Apple is the latest in a string of high-profile companies to be hacked.
As well as Apple and Facebook, The Wall Street Journal, the New York Times and Twitter have also come under attack recently. It is thought the cybergangs originate from China, but it is unclear whether or not such actions are state-sponsored.


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Payment gateway firm Visa Inc (NYSE: V) is set to report its third quarter 2019 earnings results coming Tuesday after the market closes. On average, analysts predict the company to earn $1.32 per share on revenue of $5.7 billion. This represents year-over-year growth of 10% in the earnings and 9% in the revenue. Visa stock reached a new all-time high ($181.84) when it opened today and ended the day down 0.71% at $179.24.
Once again, Visa’s Q3 results are expected to benefit from the continued growth in the processed transactions, payments volume and cross-border volume, thanks to increased consumer spending. The company had surpassed earnings estimates in the past four quarters.
For the second quarter ended March 31, 2019, Visa earned $1.31 per share on revenue of $5.5 billion. While earnings beat estimates, revenue was in line with the consensus views. On a nominal basis, processed transactions and payments volume grew 11% and 4%, respectively. Cross-border volume dropped 2%.
Visa had projected third quarter net revenue growth to be similar to moderately better than the second quarter. Third quarter expense growth is touted be in line with the second quarter.
Fourth quarter net revenue is projected to grow in the low double-digit range. Expenses in the fourth quarter are expected to grow at the lowest rate for the year.
Net revenue growth expectations maintained at low double digits on a nominal basis and expense growth expectations remained in the mid-single digits. The company lifted its EPS growth expectations to the high end of mid-teens on an adjusted non-GAAP nominal dollar basis and the low 20s on a GAAP nominal dollar basis.
Visa won the battle with its competitor Mastercard (NYSE: MA) on acquiring the UK-based Earthpost in May. Earthport provides cross-border payment services to banks, money transfer service providers and businesses via the world’s largest independent ACH network.
In June, Visa acquired the token services and ticketing businesses from Rambus (NASDAQ: RMBS) and signed a definitive agreement to acquire Verifi, a leader in technology solutions that reduce chargebacks. On Wednesday, the San Francisco-based firm acquired Payworks, a Munich-based provider of next-generation payment gateway software for the Point of Sale (POS).
On June 11, Visa launched Visa B2B Connect network globally. This will enable financial institutions to quickly and securely process high-value corporate cross-border payments all over the world. The Visa B2B Connect launch will cover more than 30 global trade corridors, with an aim to expand to as many as 90 markets by the end of 2019.
Visa’s Views on US Economy
Visa sees more downside risks to growth than upside over the next two years. While tariffs on Mexico have been avoided, there remains a risk of further tariffs on imports from China. This would create a challenge for the Fed in trying to balance job growth and keep inflation in check.
Manufacturing is likely to continue to bear the brunt of any new tariffs and slow the growth of consumer spending on such goods. In the near-term, Visa reported that it expects higher inflation readings from the starting of the third quarter of this year.
Visa’s peer American Express (NYSE: AXP) reported its second quarter results today. Another digital payment giant Mastercard (NYSE: MA) will release its second-quarter 2019 financial results on July 30.
Visa stock had given a positive return of 36% so far this year while Mastercard’s stock value had jumped 46% in the same period. In the past 12 months, shares of Visa and Mastercard have grown 28% and 34%, respectively.
The semiconductor industry is a rapidly growing business segment that currently thrives on the digital transformation wave. The demand for memory chips and other semiconductor products increased over the years,
Shares of Bed Bath & Beyond (NASDAQ: BBBY) were up on Friday, a day after the company delivered disappointing results for the second quarter of 2022. The company reported a
Nike, Inc. (NYSE: NKE) has reported a decrease in net profit for the first quarter of 2023, despite a modest increase in revenues. The company's stock suffered a big loss


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The start of the new year has me deeply analyzing a lot of my habits, and I’m resolved to live with less waste in 2022. It’s been a long journey. I’ve been composting with worms on my terrace for three years now, and rarely buy products with plastic. But staying at home more, and seeing the leftover boxes from packages piling up around my building’s trash, has infuriated me.
Progress has been shunted to the consumer. More is getting delivered directly to homes than ever before, and those households are now responsible for properly recycling any packaging that comes to their doorstep. That’s unfair, considering individual households lack the resources of a corporation or even a startup where the waste originates.
The global food system is responsible for more than a third of all greenhouse gas emissions annually. All aspects of production, from transportation to the packaging used, play a part. I’d like to see corporations hold themselves to higher levels of accountability this year, and I’m looking forward to keeping you up-to-date on who’s actually trying, and who is not.
— Chloe Sorvino, Staff Writer
This is Forbes’ Fresh Take newsletter, which every Thursday brings you the latest on the big ideas changing the future of food. Want to get it in your inbox every week? Sign up here.
What’s Fresh This Year, One Week In
5 Lessons Cell Cultured Meat Companies Can Learn From Theranos. The guilty verdict against disgraced Theranos founder Elizabeth Holmes should give the cell cultured meat industry pause, writes new contributor Michele Simon.
Why Food Price Inflation Is Not Inevitable. Inflation has been driven by the companies at the commanding heights of the food system pulling in massive profits throughout the pandemic. And it sure isn’t inevitable, writes Errol Schweizer. By passing higher costs downstream, corporations have taken full advantage of rising fuel and input prices, supply chain logjams and increased labor costs to grow their profit margins to the highest rates since 1950.
Pabst Blue Ribbon Apologizes For Inappropriate ‘Dry January’ Tweets. The beer brand posted—and then soon deleted—a series of posts about the month designated as alcohol-free. Staff writer Marty Swant breaks the scandal down.
A By-The-Numbers Look At The Food Listing Boom That Wasn’t. During the rush to market in 2021, it seemed like almost every corner of the food industry was looking for a seat at the table. But investors in restaurant chains, grocery store favorites and even a lab-grown meat maker had trouble digesting a year’s worth of spicy and bland public listings, from Oatly’s $10 billion IPO bust to Sweetgreen’s abrupt reversal from a first-day run up. By yours truly.
Sweetgreen Is Testing A $10 Subscription Membership Program. Sweetgreen is the latest chain to test a subscription program to generate frequency and loyalty, as well as higher tickets, longtime restaurant writer Alicia Kelso reports.
A splurge like this isn’t often, but I love honoring my Italian-American heritage with a festive Feast of the Seven Fishes. Here are four of my seven from this past Christmas Eve: skewered lobster tails, seared scallops, vongole and black cod with a pesto crust. Coconut shrimp, crab cakes and anchovies in caesar salad were the other dishes served.
Chloe Sorvino leads coverage of food and agriculture as a staff writer on the enterprise team at Forbes. Her nearly eight years of reporting at Forbes has brought her to In-N-Out Burger’s secret test kitchen, drought-ridden farms in California’s Central Valley, burnt-out national forests logged by a timber billionaire, a century-old slaughterhouse in Omaha, and even a chocolate croissant factory designed like a medieval castle in Northern France. Her book on the fight for the future of meat is forthcoming from Simon & Schuster’s Atria Books in September 2022.
Thanks for reading the twentieth edition of Forbes Fresh Take! Let me know what you think. Subscribe to Forbes Fresh Take here.


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Buzztala’s PVAs Arrive at Amazon Webstore
After unveiling its Product Video Ads (PVAs) just a week ago, Buzztala has announced that it will now offer its search engine marketing (SEM) services to retailers using the Amazon Webstore platform.
Buzztala’s PVAs are short video product summaries that help retailers capture first page organic search positions. Plus, the PVAs can be used as video ads to reach mobile audiences on Facebook and YouTube. According to Buzztala, PLAs give advertisers an option to complement both Shopping Ads (PLAs) and PPC text ads, while also providing consumers with a visual way to obtain product information.
“Amazon is the gold standard for e-commerce, but merchants are always looking for ways to acquire customers more effectively,” said Jay DeDapper, CEO of Buzztala. “Amazon merchants can now utilize Buzztala’s PVA ad units to hugely improve SEM and customer acquisition campaigns and avoid wasting SEM spend on shoppers who cannot see Shopping (PLA) or PPC Text ads because they are not using desktop or mobile browsers.”
It is important to note that as a solution provider, Buzztala will help Amazon Webstore merchants create and launch PVAs for SKUs. Moreover, Buzztala data shows that the PVAs have generated high click through rates (CTRs) and have outperformed Google PLAs and Google text ads over the last quarter.


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According to the latest sales statistics from ACEA and observations from independent automotive experts, electric cars have become the second most common choice in Europe. This means that for the first time in the history of the European continent, there were more electric cars sold than diesel cars. Is this a permanent trend or just an exception to the rule?
According to ACEA, one in five cars sold in Europe in the third quarter of 2021 was an electric vehicle. Together, electric cars and hybrids generated as much as 20% of revenue during the period. Sales of cars powered by electricity alone (BEVs) increased by 57% and plug-in hybrids by 43%. This is the first time it has happened in history, as until now the second most common choice was diesel cars, whose share of sales fell below 18%. This trend is confirmed by data from independent analysts for December 2021, who indicate that BEVs accounted for 20% of sales. According to some market observers, such statistics may be mainly the result of the stagnation that the automotive industry is currently experiencing. As shown by ACEA data from November 2021, sales of all new cars fell by as much as 20% overall, which was, among other things, due to disruptions in the supply of semiconductors related to the COVID-19 pandemic. So can we say that the past year was representative enough to show the full picture of the market? How might demand for particular types of vehicles evolve in the future?
Electric car sales are on the rise worldwide. Is this the end of diesel cars?
According to the ACEA report, the share of diesel cars in overall sales from July to September fell by as much as 10 percentage points, from 27.8 to 17.6%. That's a big change considering that as recently as 2015 they accounted for as much as half of sales. Vehicles with this type of propulsion have long been very popular in Europe – mainly due to the more favorable price of diesel fuel, compared to gasoline. In addition, modern diesel engines burn much less fuel than gasoline engines, but they generate more harmful emissions into the atmosphere. Attention to this fact was drawn by the high-profile 2015 exhaust scandal related to the installation of illegal software that allowed to improve the results of emissions tests in some models of diesel cars.
Current regulations in force in the European Union assume a final reduction of CO2 emissions from cars by 37.5% by 2030, whereas the European Commission is striving to accelerate implementation of the zero-emission goal for the automotive industry and completely ban the sale of combustion-engine cars as early as 2035. Already today, more and more car companies are closing down their diesel engine development departments and even setting earlier dates for the cessation of sales of this type of vehicles. It is worth remembering, however, that such far-reaching goals will also eliminate petrol cars from the market, which currently account for as much as 40% of sales in the new vehicle market.
Read more on the subject: Which is better, petrol or diesel?
Electric cars – is the price still too high?
Some market observers claim that the European electric vehicle boom is mainly driven by wealthier green technology enthusiasts and subsidies for electric cars offered by some governments. It is also worth noting that these massive increases in demand for BEVs during the study period were actually generated by only the four largest European markets, such as Italy with growth as high as 122%, Germany (62.7%), France (34.6%) and Spain (21.8%). Moreover, it is pointed out that even despite subsidies for electric cars, they are still unaffordable for people with average earnings and therefore remain a luxury that only few can really enjoy.
What does it cost to charge an electric car?
In addition, as electricity prices rise, even charging an electric car at home becomes less and less viable. Taking all of this into account, generating long-term demand and mass sales that will provide electric car manufacturers with an adequate profit may be a difficult task. It would certainly be easier to do if the prices of electric cars were lowered.
What are some ways to lower the cost of production of electric cars?
The cost of production of electric cars is as much as 50% higher compared to internal combustion cars, according to representatives of major automotive companies. Meanwhile, the relatively short amount of time that manufacturers have to adjust production to meet strict CO2 emission limits is causing them to focus on offering large SUVs and relatively expensive electric cars. There are concerns that far too many people won't even be able to afford a new car at all, which could even lead to a shrinking market.
What is the best electric car in terms of cost-effectiveness?
One proposed solution that could solve this problem is the production of economical, small range, affordable electric city cars. This, however, will require changes in current legislation, government support, and cheaper technologies that allow for mass and cost-effective, medium- to high-volume production of electric car parts. One of these is EPP foamed polypropylene molding technology, which allows for the cost-effective production of a wide range of parts for modern electric cars. The excellent properties of this foam material, such as low weight, thermal insulation and shock absorption, lead to its use in seat panels, headliners, doors and even battery casings for electric cars. The versatility, durability and sustainability of this material means that it now accounts for 20-25% of all plastics used in modern cars. It extends their range, improves passive safety and comfort, and can be perfectly tailored to meet individual requirements.


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This article is more than 1 year old
Facebook tears wraps off its own app store
Give us your cash... bitch
Facebook has continued its quest to keep punters glued to the social network by opening an app store that mimics Apple's iPhone software supermarket.
The move follows the web giant's failure to rake in cash from adverts on mobiles: it's hoped the new App Center will encourage users to stare at the website on their smartphones long enough that they start sucking up ads.
The mobile advertising drought upset investors when the site launched itself onto the stock market last month. This was at least one of the reasons why the company's value is now back to being worth about the same as real-world goods giant Tesco at $57bn.
However, Facebook's long-anticipated store won't compete directly with mobe magnates Apple or Google - instead it will tell punters what their friends are playing and drive them to an app marketplace to install the software. The social network also takes a 30 per cent cut from apps developed solely for the website and sold through Facebook.com.
According to paperwork filed ahead of its initial public offering, Facebook derived 12 per cent of all its revenue last year from online gaming startup Zynga, which makes Words With Friends and other annoying time-wasters for platforms including Facebook and Apple and Android smartphones.
The social network, led by boydroid Mark Zuckerberg, stated on Thursday that users in the US would be the first to get their hands on the app store. It'll be rolled out to the rest of the world over the next few weeks.
Here's the official blurb:
The App Center gives you personalised recommendations, and lets you browse the apps your friends use. It only lists high-quality apps, based on feedback from people who use the app.
In other words, Zuck's notion of "frictionless sharing" takes centre stage on this platform. Apple tried to do something similar with Ping and failed. But then it built that failed social network into iTunes, whereas Facebook's app store will be placed atop its existing platform, which presumably should - with its 900 million users and counting - help it fly.
For those Facebookers wanting to download one of the selected apps onto their mobile, the company has made the App Center available via the Facebook iOS and Android apps, as well as, naturally, Facebook.com.
It added: "You can send apps you find on your computer to your mobile device using the new 'Send to Mobile' feature. If a mobile app requires a download, you’ll be sent to install it from the Apple App Store or Google Play."
Wall Street didn't appear all that excited about the news. Shares in Facebook - which trades as FB on Nasdaq - closed down 1.79 per cent at $26.33 yesterday. ®


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Cresco Labs is trying to build the ‘CPG of cannabis’
Advertising cannabis isn’t easy — without legalization across all 50 states, advertising regulations are constantly in flux — but Cresco Labs wants to market its cannabis brand, Cresco, like that of a typical CPG marketer.
The company, a multi-state cannabis operator working across 12 states, is looking to introduce people to a new brand with a major marketing push across as many channels as it can get. Without the ability to market across social platforms, as none of those platforms allow advertising from cannabis brands, Cresco Labs is using more traditional marketing methods. To get the word out, the company is using a big out-of-home push in California, placements with print media publications like Rolling Stone, Variety, Wired and GQ, among others, as well as programmatic and display.
“The mission to normalize cannabis is in the creative message that we deploy in our marketing but a lot of that [normalization] is also in the placements of those ads,” said Cory Rothschild, svp of brand marketing for Cresco Labs. “Where we show up as a brand does change how people perceive our product. It’s difficult [to advertise] but it’s really important that we as an industry begin to approach cannabis the way a traditional CPG company would approach media.”
By showing up in channels that a laundry detergent or an all-purpose cleaner might, Cresco Labs is aiming to change people’s perception of cannabis as well as the Cresco brand. Earlier this month, the company unveiled its largest marketing campaign yet, “Excellent Everyday Cannabis,” to boost brand awareness in California.
“The surprising silver lining of this industry is that so many companies are spending so much money hoping to get one-second completion rates on social media sites, it’s nice to step back to an almost simpler time, when you have some of these more foundational media opportunities that have been thought of as secondary or tertiary in the media space,” said Rothschild of the marketing restrictions. “It’s a limitation but it does force us as marketers to rethink how we build a brand from scratch in a more limited ecosystem.”
The company has allocated 50% of its marketing budget to traditional media, the majority of which goes to out-of-home, 30% to premium digital placements across legacy publications from Penske and Condé Nast, 15% to programmatic and 5% to cannabis publications Leafly and Weedmaps. Cresco Labs declined to share the size of its marketing budget. According to Kantar, the company spent $12,000 on media during the first six months of this year.
The company’s also doing more with programmatic. “As we [look to] build the CPG of cannabis, using programmatic has tremendous advantages,” said Rothschild, of allocating 15% of the budget to programmatic. “It’s the same advantages I found when I was at Gatorade. From an effectiveness standpoint, we can reach a specific target in a much more precise way. That obviously provides a level of efficiencies, scale of audience, scale of spend, as we really build the first formal CPG company in cannabis.”
Cresco Labs houses brands including Cresco, Remedi and edibles brand Mindy. Of course, the company isn’t the only one aiming to be the CPG of cannabis. As previously reported by Digiday, Slang Worldwide is also looking to do just that with 94 products in nearly 20 states.
The ambition to be the CPG of cannabis is common in the market currently, according to Joshua Otten, CEO of Ronin, a cannabis and hemp brand services platform, who added that often the cannabis companies touting the CPG of cannabis approach are using one brand name across a whole host of products rather than creating differentiated brands for each product. “Any company portfolio that is one brand and one name and they slap it on 50 things, that’s not CPG,” said Otten of the numerous cannabis companies aiming to be the CPG of cannabis.
As for the marketing approach for Cresco Labs, Otten said, “Marketing channels are important, but we’re still in such an infancy that if you don’t have a lane [a brand identity], it’ll be tough for any brand to have success.”
More in Marketing
TikTok has officially launched its new e-commerce platform, TikTok Shop, earlier this month on August 1. Using the new e-commerce platform, brands and creators can sell products directly on the platform, potentially creating new revenue streams, and tap into the short-form video platform’s growing popularity.
‘The influencer industry can be really vile’: Confessions of an influencer marketer on the industry’s unfair hiring practices
While the influencer industry might sound exciting and like it’s full of opportunities, one marketer can vouch for the horrific scenarios that still take place behind the scenes.
After a tumultuous 12 months, marketers are getting a clear picture of how they really did during a time of true uncertainty. And, as it turns out, it wasn’t all that bad.
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Unconvinced by electric vehicles? Wait until you try Tesla's Model S. Jonathan Crouch reports.
Volvo has some track record when it comes to fast estates. The V60 Polestar is what happens when the Swedes goes all-out. Andy Enright reports.
With its V60 Plug-In Hybrid, Volvo shows the way forward to a 281bhp, 155mpg car - and you can also have it with sporty R-Design trim. Andy Enright reports.
Volvo is rightly proud of its latest 2.0-litre 'Drive-E' diesel engine now fitted to the D4 version of its lifestyle-orientated V60 estate. Andy Enright reports.
Volvo demonstrates how the estate car has come of age with its sleek and economical V60 D2. Andy Enright reports.
Volvo estates aren't what they used to be. Jonathan Crouch checks out the improved V60 Sports Wagon.
The V60 is a Volvo estate car that's anything but square. June Neary gives it the once over.
Volvo has a very credible premium family hatch in the shape of its V40. But how will it stack up in entry-level T3 petrol guise? Jonathan Crouch reports
Volvo's sleek V40 is now more affordable than ever when teamed with the T2 petrol engine. Andy Enright reports.
If the V40 premium compact hatch, Volvo has at last produced a properly sporty car. Specify it in R-Design trim and it can look exactly that. Jonathan Crouch reports
Volvo's sleek V40 is at its best with the revolutionary 190PS Drive-E powertrain. Andy Enright reports.
Volvo's sleek V40 makes most sense with the D3 diesel engine plumbed beneath its bonnet. Andy Enright reports.
Volvo's sophisticated V40 promises big sales for a company still negotiating a tricky transition. Andy Enright reports on the popular D2 variant.
Volvo's five-door V40 has proved to be a credible entrant in the premium compact hatch sector against cars like BMW's 1 Series and Audi's A3. Now it gets extra options, more hi-tech and, most importantly, two class-leading 2.0-litre 'Drive-E' engines, a D4 diesel and a T5 petrol. Jonathan Crouch checks out brand's most competitive car for years
June Neary is surprised by Volvo's latest premium compact hatch, the V40
The Volkswagen e-Up is an electric version of the up city car. Andy Enright takes a look at VW's entry into a rapidly burgeoning sector.
Volkswagen might have been late to the electric vehicle market but the German giant is making up for lost time with cars like the e-Golf - as Andy Enright reports.
Volkswagen brings to market the truly boutique plug-in hybrid city car in the sleek shape of the 313mpg XL1. Andy Enright reports.


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Cold Call distills Harvard Business School's legendary case studies into podcast form. Hosted by Brian Kenny, the podcast airs every two weeks and features Harvard Business School faculty discussing cases they've written and the lessons they impart.
How Will Gamers and Investors Respond to Microsoft’s Acquisition of Activision Blizzard?
In January 2022, Microsoft announced its acquisition of the video game company Activision Blizzard for $68.7 billion. The deal would make Microsoft the world’s third largest video game company, but it also exposes the company to several risks.
First, the all-cash deal would require Microsoft to use a large portion of its cash reserves. Second, the acquisition was announced as Activision Blizzard faced gender pay disparity and sexual harassment allegations. That opened Microsoft up to potential reputational damage, employee turnover, and lost sales.
Do the potential benefits of the acquisition outweigh the risks for Microsoft and its shareholders?
Planning the Future for Harlem’s Beloved Sylvia’s Restaurant
Sylvia’s Restaurant, which celebrated its 60th anniversary in August 2022, is a testament to the values instilled by the founder and matriarch, Sylvia Woods. She cultivated a strong community around her soul food restaurant in New York City’s Harlem neighborhood that has continued to thrive, even after her passing a decade ago. Amid business expansions and succession planning, the legacy of Sylvia Woods continues to live on. But as Sylvia’s grandson takes over the business, a new challenge faces him and his family: what should the next 60 years of Sylvia’s look like?
Marie Curie: A Case Study in Breaking Barriers
Marie Curie, born Maria Sklodowska from a poor family in Poland, rose to the pinnacle of scientific fame in the early years of the twentieth century, winning the Nobel Prize twice in the fields of physics and chemistry. At the time, women were simply not accepted in scientific fields. So Curie had to overcome enormous obstacles in order to earn a doctorate at the Sorbonne and perform her pathbreaking research on radioactive materials. How did she plan her time and navigate her life choices to leave a lasting impact on the world?
Chewy.com’s Make-or-Break Logistics Dilemma
In late 2013, Ryan Cohen, cofounder and then-CEO of online pet products retailer Chewy.com, was facing a decision that could determine his company’s future. Cohen was convinced that achieving scale would be essential to making the business work and he worried that the company’s third-party logistics provider (3PL) may not be able to scale with Chewy.com’s projected growth or maintain the company’s performance standards for service quality and fulfillment. But neither he nor his cofounders had any experience managing logistics, and the company’s board members were pressuring him to leave order fulfillment to the 3PL. What should Cohen do?
Corporate Governance and Growth Strategy at Capital SAFI
Asset management firm Capital SAFI wanted to attract new strategic investors and expand to other countries beyond Bolivia. Founder, chairman and CEO Jorge Quintanilla Nielsen knew that having the right corporate governance in place was critical to achieve this goal. The firm’s board had evolved over time, but would new investors be impressed by those measures or were additional improvements needed?
Larry Fink at BlackRock: Linking Purpose to Profit
In 2014, Larry Fink started writing letters to the leaders of some of the largest publicly listed companies, urging them to consider the importance of environmental, social, and governance (ESG) issues. Fink is the chairman and CEO of BlackRock, one of the largest asset management houses in the world. The firm’s success was rooted in its cost-effective, passive investment products that rely on tracking indices and funds. But Fink wanted his firm to engage with the companies in which they invest and hold them accountable for their social and environmental impacts. What role should investors play in urging business leaders to take ESG issues more seriously and enforcing compliance?


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Pakistan textile industry association (APTMA) chairman amir yazd (Aamir Fayyaz) recently urged the government to immediately withdraw a 4% tariff on imported cotton and a 5% sales tax and so on limit, in order to make the country's textile industry to meet the requirements of the international buyers for quality textiles.
He said that despite the prime minister's commitment to the export package, the restrictions were strongly added.
Pakistani media have reported that non-tariff measures for cotton imports from India and Brazil should continue as the industry desperately needs the export textiles produced by the pollution-free medium long staple.
So far, the country's textile industry has only purchased about half of the demand for cotton, because of quality, forced to buy high-quality cotton from abroad to meet its demand.
If such restrictions continue, he added, the damage would be done to Pakistan's textile value chain.


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The problem is in interconnected modern economies, like it or not, it’s nearly impossible to avoid China. One of the major reasons China has had the world’s fastest growth rate for the last three decades is most major consumer products companies globally have moved significant components of their supply chains in China.
Ericsson, Cisco or Alcatel-Lucent phone systems could also have Chinese-made parts. So could many consumer products, regardless of the nationality of the company on the brand.
Harper has said his government is 2 day diet addressing a range of difficult policy questions on the Nexen deal. The government has until Friday to make a decision on the historic takeover but could extend the review another 30 days.
Relations with China will always include tensions; that’s the reality of economic interdependence.
While Canada should address national security, industrial protectionism and human rights with Beijing that shouldn’t preclude pragmatic economic engagement with China.
The Lingerie Francaise Exhibition will reveal all about the history of racy undergarments when it opens at the London Film Museum from October 2nd to 7th with the support of Bio-Synergy.
Audiences should prepare to slip into something more comfortable to learn about more than 100 years of French lingerie from corsets to the invention of the bra, and then be amazed with the ‘Holographic Striptease’.
Slimming and nutrition experts Bio-Synergy will be supporting the gala opening of the exhibition with their flagship Skinny Water, which has long helped anyone how to look good (almost) naked.
“We’re delighted to support this exciting and innovative exhibition,” said Daniel Herman, founder of Bio-Synergy. “We’ve always helped people look their best, and this show is all about enjoying that feeling of looking great.”
With a range of award-winning products like Body Perfect and their newly released line of natural Acai products, Bio-Synergy are a cut above when it comes to looking your best in that little black dress.
Skinny Water is a MENOVA Heyeqianzi Slimming Herbs Capsule delicious zero-calorie flavoured water that’s made with chromium and l-carnitine to balance your blood sugar (and avoid cravings) and to improve your metabolism. As little as one bottle a day have helped some people lose more than a stone over 3 months.


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One year ago today
Energy emergency: Sandy profiteers sell gas, generators at predatory prices on post-apocalypse Craigslist: Gas sales I've found on Craigslist range from $5 to $20 a gallon, but there are probably ads at higher prices. My favorite was the 55-gallon drum of gas for a thousand bucks. Unleaded! Cash only, folks.
Five years ago today
Coop's photos of Mexico: Our pal Coop is in the La Carrera Panamericana 2008 car race, and has been taking wonderful photos along the way.
Ten years ago today
EFF sues Diebold! EFF is suing Diebold on behalf of the Online Policy Group, who are being threatened with a bogus copyright action in retaliation for linking to a website that describes the technical failings of Diebold's voting machines.
One year Coins painted as fictional characters: Andre Levy, a designer in Frankfurt, likes to paint coins. Five years Britain seeks ban on glass pint-glasses to prevent bar-brawl injuries: The British Home Office is looking for proposals to make it harder to attack people with pint-glasses, including a mandate that all pint sleeves be made […]
One year Soviet plane-spotting head-gear: Drakegoodman scanned this 1917-ish photo of Soviet planespotters in exotic headgear; according to a commenter, the binox are focused at infinity “so that when you found the source of the sound by turning your head, you could see the aircraft creating that sound.” Five years Ralph Lauren opens new outlet […]
One year Better way to organize kids’ clothing departments: Ever since our daughter’s birth, my wife Alice and I have found ourselves shopping the “boys” section of the department stores for things like pyjamas and tees and rubber boots, this being the only way to get stuff that isn’t pink, covered in glitter, hypersexualized (you […]
If you don’t want to get stuck footing the bill for a hit and run, this dashboard-mounted camera offers up to 2K resolution to make sure you always have a reliable witness, and it’s available in the Boing Boing Store for 30% off it’s usual price.The PapaGo mounts unobtrusively to your windshield to see everything […]
While some people still maintain that everything in Apple’s walled garden “just works” and is immune to the rampant malware of the Windows world, the reality is different. The Mac’s growing market share has made it a much more viable target for malicious actors, and its built-in tools aren’t always enough to fix things. Drive […]
Boasting an IPX6 waterproof rating, the Trakk Bullet Ultra Compact Waterproof Bluetooth Speaker resists dust and heavy rainfall. It’s currently available in the Boing Boing Store.The Trakk Bullet offers the same wireless convenience as other portable speakers, but few are built as tough as this one. Its utilitarian construction is designed to be a totally low-maintenance […]


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Money transfer and payments platform Wise has lifted its full-year profit expectations after enjoying a surge in income from higher interest rates.
The fintech company said its net interest income – an important measure showing the difference between its revenues and its costs – was 148% higher over the latest quarter, compared with the previous quarter, totalling £43.5 million.
It brings its total income to £268.7 million over the last three months, an 80% increase compared to the same period a year earlier.
This surge was because of higher rates of interest on people’s invested assets and growing customer balances, Wise said.
It comes as the Bank of England hiked up interest rates to 3.5% at the latest monetary policy meeting, the highest rate since October 2008, making it more expensive for people to borrow.
As a result, Wise said its total income for the full year is expected to grow 68%-72%, compared with its previous, lower expectations of a 55%-62% growth level.
Wise admitted there is “still work to do” to share the benefits that it is reaping from higher rates with its customers.
But, until then, a large proportion of the higher income will flow to its earnings, the firm said.
It also revealed that its average fee on money transfers had gone up to 0.66% in the latest quarter, up from 0.64% the previous quarter and 0.6% at the start of last year, as it faces higher exchange rate costs.
Wise co-founder and chief executive Kristo Kaarmann said: “As interest rates increase, our customers expect a return on the balances they hold with us, and we intend to share much of the benefit of higher rates with customers.
“This quarter we launched ‘Interest’ within our assets product in the UK – a whole new way for our customers to hold their money and earn a return.
“I’m also pleased that, for the third consecutive quarter, more than 50% of cross-border payments were completed instantly.
“The investments we’ve made to deliver a superior infrastructure and product are resonating, and in this quarter more customers than ever used Wise.
“This underpins our conviction in the outlook for 2023 and beyond.”
Around 5.8 million customers transacted with Wise over the last three months, up by a third compared to the previous year.
It helped push up its revenues to £225 million, up by half from the £150 million reported this time last year.
Shares in Wise were down by nearly 6% on Tuesday morning despite the upbeat outlook.


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with Georgia May Jagger at Berlin Fashion Week
Berlin, 11.7.2014. Yesterday evening, international fashion brand RESERVED celebrated its launch in Germany at Mercedes-Benz Fashion Week Berlin. The new face of Fall/Winter campaign 2014,Georgia May Jagger, as the guest of honor, opened the night’s brilliant fashion show and enjoyed the “Let’s Fashion!” party at Alte Muenze Berlin with more than 1.200 guests.
The soon-available Fall/Winter 2014 collection was presented to the most important representatives of the German fashion press as well as Berlin’s social crowd and many well-known celebrities. Among the renowned guests were Daniel Bruehl, Jasmin Gerat, Elyas M’Barek, Franziska Knuppe, Eva Padberg, Anna-Maria Muehe, Mina Tander, Anna Julia Kapfelsperger and Anastasia Zampounidis.
The lively atmosphere was heated up by music sets of Berlin’s most influential Djs as Beck To Beck, Terranova, Oskar Melzer, Adam Port & Rampa und Niki Pauls. The party night was completed with a spectacular live performance of the Danish indie pop band Oh Land.
The fashion party marks the sales start of high street label RESERVED in Germany. As of now the much-loved trend clothing of the brand is available in Germany via www.reserved.com. First RESERVED stores will open this fall in Recklinghausen, Stuttgart, Bremen and Hannover. Many more shop openings are planned in the next two years.
RESERVED’s Autumn / Winter 2014 campaign features London it girl Georgia May Jagger and sets a new guideline into the spotlight – Let’s Fashion! It encourages to play with styles, mixing trends and forms. Let’s Fashion is a conceptual approach to fashion and everyday outfits.
As being the flagship brand of the LPP company, RESERVED runs more than 500 stores in East- and Central Europe and is considered as one of the leading fashion retailers.
In July the brand goes live with its completely new-designed online shop for German customers. First stores will open up in Autumn in Recklinghausen, Stuttgart, Bremen and Hannover. Additional stores are planned both in every big city of Germany and in the European metropolises as London and Paris.
LPP S.A. is a global company with more than 1.600 stores of all five aspiring fashion brands RESERVED, Cropp, Mohito, House and Sinsay. In 2013 over 70 million pieces of clothing have been sold and the sales revenue peaked at over one billion. With RESERVED the company enters the western European market for the first time. The ambitious expansion of the brand plans to open up to 20 new stores in Germany within the next two years and also the extension to Croatia and Qatar in 2014.


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Dec 6, 2014; Los Angeles, CA, USA; Los Angeles Galaxy goalkeeper Brian Rowe (12) during team training the day before the 2014 MLS Cup at StubHub Center. Mandatory Credit: Kyle Terada-USA TODAY Sports
Happy Friday night on The View From Avalon, your LA Galaxy II and Los Angeles Galaxy news site on the FanSided Network. This week, manager Curt Onalfo announced the roster for the 2015 LA Galaxy II squad. Take a look.
Next: LA Galaxy II Defenders


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Getting a fuel-free fill-up is going to get a little easier, with the news that Electrify Canada will triple its current number of 32 electric vehicle charging stations to more than 500 chargers across 100 locations in Canada by the end of 2025.
The company currently has stations in Quebec, Ontario, Alberta, and British Columbia. It will expand further in those provinces, and also add Saskatchewan, Manitoba, New Brunswick, Nova Scotia, and Prince Edward Island.
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Electrify Canada said that once the network is completed, drivers can travel from Halifax to Victoria, charging exclusively at the company’s fast-charging stations. The stations are installed at highway and metropolitan locations with amenities nearby, and some stations will include canopies for weather shelter and improved lighting.
B.C. Hydro predicts 'bottleneck' as electric vehicle demand ramps up
Do people who buy their first electric vehicle buy a second one after?
The expansion is part of a larger plan to put more than 1,800 fast-charging stations and 10,000 individual chargers across the U.S. and Canada by the end of 2025. The company said the initiative will increase the deployment of 150- and 350-kilowatt chargers, the fastest speed available today.
Electrify was formed in 2016 as a division of Volkswagen to increase public charging availability in Europe, Asia, and North America. Its entry into the United States in 2018 was part of the automaker’s settlement with the U.S. government over the “Dieselgate” emissions scandal. The first Canadian charging stations were installed in 2019.