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Scotch whisky industry in ‘prolonged slowdown’
With shipments down for the first time in a decade, Scotch whisky is facing strong headwinds, yet confidence remains high among producers.
*This article was initially printed in the November 2014 issue of The Spirits Business magazine
This month the world’s most famous footballer will be raising a toast to the Chinese. Images of David Beckham armed with a dram of Haig Club – Diageo’s single grain whisky in its blue, aftershave-like bottle – will be splashed across billboards, print and online to launch the new brand in China.
It comes at a difficult time for Scotch with Chinese imports down 35% in value in the first half of this year according to the Scotch Whisky Association (SWA). More significant has been the 46% collapse in shipments to Singapore – the spirit’s third most valuable foreign market and a key export hub for China. Euromonitor analyst, Spiros Malandrakis, talks of a perfect storm featuring China’s economic slowdown, the government purge on conspicuous consumption and moves to break alleged links between the on-trade and prostitution. “In my view we’re not looking at a very short-lived blip, but more of a prolonged slowdown,” he explains. While he believes growth will return to China, he says: “The slowdown will definitely endure longer than Diageo and Pernod have been saying.”
The contraction in China is mirrored by falls in the US, Germany, Mexico and Brazil, and offset by gains in Taiwan, India and the Gulf. Overall, the total value of Scotch exports fell 11% in the first half of 2014, and while it’s the worst drop since 1999, the SWA’s CEO, David Frost, shows no sign of panic.
“The last time exports fell was 10 years ago. Since then they’ve doubled, so that’s the context we’re working in. The mood in the industry is still pretty buoyant to be honest, and our growth has tracked emerging market growth pretty constantly. As long as those markets continue to grow, we feel things are going to be good for us.”
As for China, he believes: “The austerity campaign perhaps lasted longer than many people thought. What we saw in the last year or two was a bit of a bubble based on very strong levels of gifting.” Instead of Royal Salute or deluxe expressions of Johnnie Walker, today’s politically correct gift is a caddy of vintage Chinese tea. So rather than chase what Malandrakis calls “Beijing’s burgeoning billionaires”, Scotch is having to become more mainstream, which is where Beckham comes in.
“Our goal with Haig Club is to build it into the at-home and in-meal occasion, and in parts of Southern China we’ll be going together with Shui Jing Fang on the distribution front,” said Ivan Menezes, Diageo’s CEO, while announcing the firm’s preliminary results in July – Shui Jing Fang being the troubled Baijiu brand it acquired during 2012. The country’s dominant spirit has been decimated by a price war and the austerity campaign at the top end, but Diageo believes it could be the key to unlocking the off-trade for Scotch whisky as consumers switch to international brands that have similar price points. Any volumes gained won’t compensate for the value lost through the anti-extravagance drive, at least in the short-term, but it may give Scotch a more solid base for the future.
Twain is ‘bright spot’
Over in Taiwan, while volumes remained unchanged at 9m cases, value soared by 39% as consumers continue to trade up. As Chivas Bothers’ then commercial director, Paul Scanlon, told SB last May: “Blends have definitely slowed down significantly, with deluxe blends now in decline, however malts have grown exponentially in the last five to eight years.” Edrington has been a major benefactor through The Macallan – the country’s leading single malt by value. Gerry O’Donnell, the group’s corporate affairs director, calls Taiwan “a bright spot in Asia, where our brands are doing very well and prices are holding up.” Although he admits that The Macallan has suffered in China, it’s “not to the same magnitude as some of our competitors”. The most exposed is Pernod Ricard, whose Chinese sales have accounted for as much as 15% of the company’s profits.
Of course shipments and depletions are never quite the same, especially in markets with long distribution chains. The Singapore-based wholesalers who play a major role in distributing Scotch across China and South East Asia are notoriously sensitive to any bad news stories on the economy. Diageo has suffered significant de-stocking in the region which is one reason its sales to emerging markets dropped 2% in the year to June. The following month Menezes told investment analysts of his desire to create “a sell-out culture, particularly in the emerging markets.” As a result, monthly performance goals for those on the frontline will be based around depletions.
Overall it’s a mixed picture in Asia with encouraging growth in Japan and news from the SWA that trade barriers may soon ease in Vietnam, offset by a volatile situation in Thailand. The great unknown remains in India, where shipments are growing despite punitive import tariffs of 150%. “We haven’t even scratched the surface of India, and there’s a temptation to say the same about Africa,” says Billy Walker, the former boss of Burn Stewart who now runs the Benriach Distillery Company. The self-styled “ultimate optimist”, says: “Some of the markets we’re now engaging with we could never have imagined 12 years ago. It’s almost that the only market that has a total barrier to entry is North Korea.”
That said, Scotch whisky is taxed beyond the reach of most Indian consumers thanks to their government’s protectionism. Efforts to level the playing field have currently stalled as part of wider negotiations on a Free Trade Agreement, but the SWA remains hopeful. “The domestic politics appear to be changing a bit with domestic producers now openly lobbying to cut the tariffs,” says Frost, who accepts there is a risk of local state taxes simply rising to plug any drop in the national levy. If the barriers do come down, then all bets are off for Scotland’s distilleries whose entire inventory could be drained in one giant Indian gulp.
Still, it’s unlikely to happen overnight. “If you look at penetration in some of the big emerging markets, in India it’s 1% of the market, Brazil around 2-3%, and Russia 5%, so there’s a long way to go,” says Frost. “People come into the middle classes and often use Scotch whisky as a kind of status symbol. When people have a bit more money they tend to reach for foreign brands, and Scotch whisky tends to be the best-known foreign spirit.” While that may be true in broad terms, there is talk of some ambivalence towards Western brands in parts of Latin America. Yet Dr Nick Morgan, Diageo’s head of whisky outreach, insists otherwise. “In those economies where there is a significant rise in GDP in the emerging middle class, Scotch whisky is something that people do look to as an aspirational sign that they’ve arrived at a different stage of their lives.”
Moving to the States – the category’s most valuable market by some distance, shipments fell 12% in volume and 16% in value in the first six months of 2014. “To be honest we’re not totally sure why,” says Frost. “And to be equally honest we’re not really worried because the fundamental drivers seem so strong. The attractiveness of the category in recent years, the strong interest in malts, the premiumisation in the US – none of that seems to have changed.”
While mainstream blends face ever fiercer competition from Irish and American whiskeys, Morgan believes there is still plenty of space for growth. “Penetration of spirits in the US is still relatively low against the adult drinking population,” he says, adding that the likes of Jameson’s and Jack Daniel’s may be aimed at a different demographic. “You could say that they’re recruiting people to a whiskey category who, as they mature, are likely to come to Scotch whisky.”
Challenge from flavours
Time will tell, but Spiros Malandrakis believes the Irish and Americans have the upper hand right now, and that Bourbon distillers have shown themselves to be much more inventive and experimental. “They have embraced the trend around craft distilling, expanded with flavours and tapped into the whole Americana-Prohibition thing, and they’ve also massively premiumised the category,” he says. “When Red Stag and Jack Daniel’s Tennessee Honey came along, Scotch whisky was looking in awe and fear from the corner of the bar.” As well it might if John Hayes, Jack Daniel’s Master Distiller, is proved correct. Last month he told The Spirits Business: “By the end of this year, the flavoured American whiskey category will be bigger than Scotch in the USA.”
Morgan sounds unconvinced. “I think the jury’s out on how robust and enduring the flavoured whisky market will be,” he retorts. That said, Diageo is now playing across all three strains of the new category – American, Irish and Scotch, having launched J&B Urban Honey in Spain this spring. Presumably it will soon be appearing in America to join Dewar’s Highlander Honey which pioneered the flavoured “Scotch” category last year. The appearance of such lines suggests the industry accepts, at least privately, that its previous innovations have not been enough to satisfy the craving for novelty among some US consumers.
Back to those SWA stats and Billy Walker feels the declines are a temporary blip. “Sometimes people get frightened by a wild statistic but I suspect that’s all it is.” His confidence is not necessarily shared by his fellow passengers on the good ship Scotch. Diageo, which is set to hit an estimated 100m lpa in malt whisky capacity, having been at 73m just five years ago, has paused its investment programme to “ensure the right balance between supply and demand”. With their investment in increasing capacity in the billions, let’s hope there are no icebergs ahead.


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Microsoft Corp. shot down talk that CEO Steve Ballmer might appear at Apple Inc.'s Worldwide Developer Conference with a tweet Thursday afternoon.
"Steve Ballmer not speaking at Apple Dev Conf., Nor appearing on Dancing with the Stars. Nor riding in the Belmont. Just FYI," the company's Twitter post said.
It came after Global Equities Research analyst Trip Chowdrey said that Microsoft (NASDAQ:MSFT) had been given seven minutes during Apple CEO Steve Jobs' keynote to talk about Visual Studio 2010. Chowdrey said that a new version of the development tools software will support native applications for the iPhone, iPad and Mac OS.
Chowdrey further reported that the stage time will be taken by either Ballmer or Microsoft's server and tools chief Bob Muglia.
The report came a day after Apple (NASDAQ:AAPL) topped Microsoft as the most world's valuable technology company by market cap.
Ballmer said Thursday that becoming the second most valuable tech company is no big deal.
"I will make more profits and certainly there is no technology company in the planet which is as profitable as we are," the Wall Street Journal quotes Ballmer as saying during a visit to India. "Stock markets will take care of the rest."
The market value of Microsoft has fallen by more than half since Ballmer took over as CEO from Bill Gates, dropping from $556 billion to $219 billion as of the close of stocks on Wednesday. Apple's market cap, meanwhile, has shot from $15.6 billion to $221 billion in that time.
But the software giant still leads Apple in profit and revenue. Its net income between January and March was $4.01 billion on revenue of $14.50 billion, a time when Apple posted $3.07 billion in profit on $13.50 billion in revenue.
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ZAANDAM, Netherlands -- Ahold here said last week it will maintain its focus on acquisitions in Europe and the Eastern United States.
romodes, Mondeville, that would create the second-largest retailing firm in the world, after Wal-Mart Stores, Bentonville, Ark.
Ahold also said last week its earnings rose 40.6% to $183.3 million in the 12-week quarter ended July 18. Consolidated sales in the same period increased 34.5% to $8.4 billion.
Sales at the company's U.S. operations increased 34.6% to $4.7 billion, spurred, the company said, by the consolidation of Giant Food, Landover, Md., which Ahold acquired last year, and substantial sales growth at Stop & Shop, Quincy, Mass.
Cees van der Hoeven, Ahold president and chief executive officer, said all of Ahold's U.S. companies were showing improvements.
"We are more than pleased with the progress that is being made at Giant Landover, where sales and results clearly exceed our expectations," he also said.
Turning to the issue of acquisitions, van der Hoeven noted the company's still pending takeover of Pathmark Stores, Carteret, N.J., which is currently being studied by U.S. government regulators.
He also said Ahold had been a bidder in the limited auction for Hannaford Bros., Scarborough, Maine, which was acquired last month for $3.6 billion by Delhaize, the Belgium-based parent company of Food Lion, Salisbury, N.C. "In the meantime, we continue to see significant growth potential on the U.S. East Coast, autonomously as well as through acquisitions," said van der Hoeven.
"In Europe, the predicted consolidation has started," he continued. "We are positioning our company to be ready to take an important next step as and when the right opportunity arises."


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Although Advanced Micro Devices reported lower revenues in line with its previous warning, the company recorded yet another loss on flat to declining sale prices.
That prompted chief executive Hector Ruiz in a conference call Thursday to announce that the company would scrutinize each of its businesses, and either sell off or otherwise exit those that were not in line with the company’s core operations. The decision is “an addition” to the restructuring plan the company announced in its earlier earnings warning, he said.
Essentially, everything that is not part of the company’s X86 microprocessor and graphics business may be examined, Ruiz said, for “leadership and profitability”. “Absent these, we will exit those businesses,” he said.
AMD reported a loss of $358 million on revenue of $1.505 billion for the first quarter of 2008. That loss narrowed from the $1.772 billion loss AMD reported during the fourth quarter of 2007, when AMD reported revenue of $1.770 billion, a 15 percent sequential decline.
AMD has reported losses for six straight quarters, dating back to the third quarter of 2006. During that time, the company lost $4.311 billion on revenue of $9.288 billion.
The most likely target for AMD’s ax will be its small consumer electronics business, which recorded just $81 million in revenuee for the first quarter. That proved to be a decline of 26 percent and 31 percent, respectively, from the fourth quarter and first quarter of 2007.
AMD’s Computing Group recorded $1.194 billion in revenue, meanwhile, and the graphics business recorded $230 million in revenue. Both businesses showed double-digit revenue declines from the fourth quarter, but both showed sharp increases over the first quarter: 30 percent for the computing group, and 17 percent for the graphics business.
In a press release, AMD revealed that shipments of microprocessors decreased compared with the fourth quarter 2007, but increased versus the first quarter of 2007. Likewise, AMD’s ATI graphics division recorded increased unit sales over both Q4’07 as well as Q1’07.
The problem is that in both the microprocessor and graphics businesses, the average unit selling price either fell or remained flat — meaning that AMD’s revenue per unit decreased. Specifically, microprocessor ASPs remained flat compared to both the fourth quarter and first quarter 2007, while the average selling price of ATI’s graphics chips declined versus the fourth quarter, and remained flat versus the fourth quarter of 2007. Overall, however, gross margins dipped to 42 percent, down two points from the 44 percent recorded in the fourth quarter.
“A seasonally weak first quarter was amplified by a challenging economic environment for consumers and lower than expected revenues of previous generation products, resulting in lower than expected revenues in all business segments. However, we are encouraged by the market acceptance of our quad-core AMD Opteron server processors as well as our new chipset and graphics offerings,” said Robert J. Rivet, AMD’s chief financial officer, in a statement. “We remain committed to achieve operating profitability in the second half of the year, driven by our portfolio of new products and platforms and aggressive restructuring programs.”
AMD’s “Puma” notebook platforms have enjoyed “real design wins” across OEMs, including those catering to the SMB market, said Dirk Meyer, AMD’s president and chief operating officer. In graphics, AMD expects to gain share in notebooks and desktops beginning in the current second quarter, he added.
AMD also expects to name a third big-name customer for the B3 stepping of its Barcelona processor, which fixed a bug discovered last year. Although microprocessor ASPs overall were roughly flat, they will improve as more Opteron chips for servers are added into the mix, Rivet said.
However, AMD doesn’t expect to ship its 45-nm processors until later this year. The company will begin producing “mature volumes” this summer, but ship into product later in the year. The next-generation “Bulldozer” core will sample in 2009, executives said.
And although one analyst noted that it was essentially the one-year anniversary of the unexplained “asset lite” or “asset smart” strategy, AMD’s Ruiz refused to disclose what exactly it is, or how it will boost the company back to profitability.
Overall, AMD expects revenue to seasonally decline for the second quarter, dependent on the market and the actions of Intel, Rivet said. The average decline has historically been between 0 and 10 percent, he said.
Editor’s Note:The story was updated at 3:41 PM PDT with comments from AMD executives on a conference call.


text: Plazm magazine is raising money on Kickstarter to print their 20th anniversary issue—according to their pitch, their printer was recently bought out by another company who can't honor the original bid, leaving them scrambling to make up the difference. (Print media!) Unsurprisingly, the Portland culture rag is doing Kickstarter right: Loads of incentives at closely staggered bid points, including performance tickets, limited edition T-shirts, yoga classes, a one-hour massage, even the chance to have local author Jon Raymond name a character after you in an upcoming screenplay or novel. Plus, they're published by a non-profit, so you can write it off. Go help 'em out!


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Freesat and River Cruise Lines are using traditional direct mail to advertise to couples whose children have left home.
The smartphone is an essential part of modern life for busy families and brands can utilise this when devising and running direct mail campaigns.
For young adults living at home with their parents, receiving mail in the post is a novelty in a world where most of their communication is digital, reports Steve Hemsley.
Marketing Week is proud to name Premier Inn’s Yasmin Mukhida-Olushola as one of our inaugural Future Marketing Leaders, sponsored by Digitas.
The bank galvanised the wider financial sector to raise awareness of the damage caused by economic abuse, driving consideration in the process.
Christmas is traditionally a quiet period for the travel sector but TUI is launching a festive ad to build resonance for the brand and “prime” audiences for the busy turn-of-year trading season.
Taking the risk to pursue a purpose message over the festive period paid off for O2, which leapfrogged EE to grow total market consideration.


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Letter: Ivanka Trump has no grounds to complain
Regarding “Nordstrom’s wrong to drop Ivanka Trump’s clothing line” (Your Views, Feb. 16):
As a former and current business owner, I recognize the challenges women face in business. However, I take exception to the writer’s statement that Ivanka Trump is being judged unfairly.
If Ivanka and Donald Trump had separated her business from his administration, I would agree that her business should be judged separately.
Posting pictures of Ivanka Trump sitting at the Resolute desk between the presidents of the United States and Canada, Donald Trump’s tweets condemning Nordstrom and KellyAnne Conway’s unethical commercial for Ivanka Trump are just a few examples of how this administration is blurring the lines between government and corporate marketing.
Wyckoff, Feb. 17


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in the news
CNBC.com: Shaving Upstart Harry’s is Selling for $1.37 Billion to the Company that Owns Schick RazorsMay 10, 2019
Schick and Wilkinson razor brands owner Edgewell Personal Care announced that it will buy Harry’s Inc. in a $1.37 billion cash-and-stock deal, to expand in a fast-growing U.S. grooming market.
O’Melveny is advising New York-based Harry’s on the deal. The company sells razors, shaving creams, lotions, soaps and other grooming products as well as the Flamingo line of women’s razors and waxes.
This story appears on the Reuters news wire.
Read the article here.


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Murat Balaban, Ph.D.
Food Science and Human Nutrition
2007 AwardeeFood science and human nutrition Professor Murat Balaban says that he tries to apply engineering principles to foods and biological matter in innovative ways, and to develop processes and generate knowledge that can be applied to industry. During his career at UF, Balaban has worked on ways to pasteurize orange juice and other products using carbon dioxide, to measure the quality of seafood, to more effectively and efficiently dry fruits such as grapes without the use of sulfites, and to increase the quality of coffee.
In the orange juice project, Balaban found that carbon dioxide gas under high pressure can produce orange juice that tastes just like fresh-squeezed, but is as safe to drink as the heat-pasteurized variety.
“We have done extensive taste tests where people cannot tell the difference between fresh-squeezed orange juice and orange juice that is made safe and long lasting with this process,” Balaban says.
In the new continuous process, fresh-squeezed orange juice is mixed with pressurized carbon dioxide and passed through a tube. At the end of the process, the juice is depressurized and separated from the gas, killing harmful microorganisms.
Balaban also helped to develop a highly accurate electronic nose that sniffs out fishy seafood before it gets to the consumer.
“The electronic nose gives us nearly 100 percent accuracy and could be just what we need to help seafood inspectors handle their growing workload,” Balaban says. The noses are computerized tabletop units with sensors that detect odor molecules. They are also being used to find bacteria in wounds, inspect toxic waste sites and check the quality of wine and coffee.


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MicroSat Systems Inc., a maker of small satellite products, has been bought by Sierra Nevada Corp., the company reported Thursday.
The purchase price wasn't disclosed.
Littleton-based MicroSat Systems builds satellite avionics, arrays, payload delivery technology and other products for government and commercial use.
It will become a wholly owned subsidiary of Sierra Nevada Corp., which is based in Reno, Nev. Sierra Nevada develops surveillance, systems integration and electronic warfare technologies for the defense and commercial satellite industries.
It's the company's latest Denver-area purchase. Sierra Nevada previously bought Straight Flight Inc. and Straight Flight Conversions Inc., which now serve as a Sierra Nevada Corp. aircraft maintenance subsidiary at Centennial Airport.


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If you have an Android device and own a car; you might have also used Android Auto. Now, if you haven’t used the app, you should give it a try. For those who already use Android Auto, we have news for you. Google is working on a big design change. At the I/O 2022 event, Google revealed that the company is planning to release a big update this summer. The new change will allow users to use the Android Auto on split-screen.
Android Auto supports split-screen mode
After the update, the Android Auto can fit your car’s display size. It can scale to show the panel for app launcher, notifications, and more. What’s more, for cars with ultrawide display, all the aforesaid things will appear on the left. On the other hand, if the car has a vertical display, all of the previously mentioned things will appear at the bottom.
There are several benefits of the new design. First, it will improve user experience; users will no longer need to go back to Android Auto’s home screen every time they want to access the app launcher.
Moreover, the main screen will include three sections, moving forward. The first two sections consist of navigation and media controls. Whereas, the last one will dynamically change to show various things, including a new message, and a clock, among other things.
Furthermore, Google is making Android Auto even smarter; it will include deeper Google Assistant integration. All of the aforementioned changes will arrive in Android Auto this summer. Plus, every vehicle will receive the update, be it old or new, provided they support Android Auto.
Besides the features mentioned above, Google will roll out some other features too. Like, users can now easily access quick actions, including playing music and quick messaging.
Also Read: Nicehash Manages to Fully Unlock Nvidia’s LHR Technology.
Google wants to keep the user interaction with the Android Auto as minimal as possible
There is a downside to multitasking Android Auto experience as well, some drivers might find it distracting. The new UI contains a lot of elements that might shift the focus of drivers away from the road. However, it is worth mentioning that tile-based UI won’t let them change apps while driving.
Moreover, users won’t have to interact that much with the new split-screen mode as it will display information at a glance. That said, they will have to interact with the application in case of messaging. Google has offered a solution for that too.
Google Assistant will offer handy contextual suggestions in the Android Auto design. It will recommend replies to messages, music, and more. All-in-all, Google wants to keep the user interaction as minimal as possible.
Also Read: HP Omen 16 c0140AX Review


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An unannounced game, seemingly based on the Far Cry spin-off anime series Captain Laserhawk, has been rated in Europe. The game, titled Captain Laserhawk Niji Warrior, has been rated by PEGI, suggesting an official reveal could be imminent.
The game is likely based on Captain Laserhawk: A Blood Dragon Remix, a Netflix animated series that was itself inspired by Far Cry 3: Blood Dragon. The show follows a cyborg super-soldier branded an enemy of the state and struggling to find a cause worth fighting for in a dystopian society.
According to PEGI’s rating, the game sees players take part in a laser ‘deathmatch’ and compete to eliminate the most opponents. It also allows players to purchase in-game items, such as cosmetics.
Press reports earlier this year claimed that Ubisoft is currently developing Far Cry 7 and a standalone Far Cry multiplayer game. Far Cry 7 is reportedly being made with Ubisoft’s Snowdrop engine, rather than the Dunia engine used for recent series entries.
Both titles were said to be tentatively scheduled for release in the fall/autumn of 2025.
Last August, Ubisoft Montreal veteran Sandra Warren was promoted to vice president and executive producer of the Far Cry brand. Earlier that month, Ubisoft also promoted Far Cry 5 writer Drew Holmes to Far Cry IP director. Warren will have the most senior role of the pair in terms of production, while Holmes will oversee the creative roadmap for the series.
Rockstar Takes Down Massive GTA 6 leaks Allegedly Sourced from Dev’s Son


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To protect its big tent, Google has its growing and frequently updated set of rules. Rule #1: thou shalt not sell links on your blog/site. But, as we have seen in the case in the case of Mahalo, Google is pretty lenient towards big websites when they flout its rules. Now, Forbes magazine is selling blog post space as a sort of 'paid press release'.
Forbes advertises its new Forbes Advoice thus:
We'll sell you a blog, and your content will live alongside that of Forbes' journalists and bloggers. This isn't the "sponsored post" of yore; rather, it is giving advocacy groups or corporations such as Ford or Pfizer the same voice and same distribution tools as Forbes staffers, not to mention the Forbes brand.
See how dangerously, the new initiative blurs the already jarred line between content and advertising in modern media brands. In India, the Times iof India has perfected this style of editorial-commercial startegy.


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RIM gets Visa approval for mobile payments via NFC
System will work with the security offered by various carriers and smartphones
Computerworld - Research in Motion announced Wednesday that credit card company Visa has approved RIM's security management system for use in mobile payments made with smartphones or tablets that use a Near Field Communication chip.
The system, called Secure Element Manager (SEM), provides software and server infrastructure in the cloud that is managed full-time globally by RIM, said Geoffrey MacGillivray, senior product manager for NFC services at RIM, in an interview. SEM works with the secure element installed in SIM (Subscriber Identity Module) cards or the embedded secure element installed in NFC-ready mobile devices.
The SEM is intended for use by wireless carriers to offer their device customers the ability to make mobile payments through banks that work with Visa and potentially other credit card companies.
SEM meets the "stringent technology and usability guidelines for Visa," RIM said in a statement. That includes encryption of mobile payment data, both on devices and over the air to banks, and the downloading of applets with a customer's credentials, as well as management of PINs and other authentication data used to activate a mobile payment, MacGillivray said.
A secure element typically works with encryption technology and manages credentials with a secure user PIN to seek authorization of a payment from a phone to a bank account on a remote server.
RIM said its SEM technology evolved from a recent deployment of mobile payments in Canada using SEM by EnStream, a joint venture of wireless carriers Bell, Rogers and Telus. MacGillivray said RIM has not disclosed other potential carrier customers of SEM.
RIM already makes BlackBerry 7 smartphone models with NFC chips and SIM cards, as do many Android smartphone makers such as Samsung and LG. BlackBerry 10 smartphones, due to be announced Jan. 30, will also have NFC chips and SIM cards.
Apple has so far held off deploying NFC in its devices.
In the U.S., the consortium of three wireless carriers called Isis has relied on a mobile payment system that requires a secure element in a SIM card. Isis, backed by Verizon Wireless, AT&T and T-Mobile, was rolled out in October in Austin and Salt Lake City.
For example, customers can purchase soft drinks from vending machines equipped with NFC readers by passing an Isis and NFC-ready smartphone near the machine, with the cost paid by a credit card or pre-paid card. Verizon demonstrated that technology at its booth at International CES last week.
By comparison, Google Wallet embeds the secure element for mobile payments in the core of the smartphone rather than on a removable SIM card. Google Wallet was introduced in the U.S. in September 2011 using a Nexus smartphone on the Sprint network and tens of thousands of NFC-ready payment terminals.
RIM's announcement will likely bolster interest in mobile payments in the U.S., where many device users have been cold to the NFC technology mainly because of security worries and a longtime habit of using credit cards to buy goods and services, analysts said.
In Japan and South Korea, smartphone users widely use their NFC-equipped devices to make low-cost mobile payments at retailers and for rides on public transit. The system first rolled out more than a decade ago amid broad cooperation between carriers and banks there.
Matt Hamblen covers mobile and wireless, smartphones and other handhelds, and wireless networking for Computerworld. Follow Matt on Twitter at @matthamblen or subscribe to Matt's RSS feed. His e-mail address is firstname.lastname@example.org.
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Uber Technologies Inc. may start to deliver marijuana across the world, including Nigeria. This is as it commenced the business already in Canada.
Uber Eats, a subsidiary of Uber Technologies, in a statement, said it had already commenced the business of delivering marijuana from retail stores listed on Leafly in Toronto, Canada.
“First and foremost, we see this as a critical piece to helping discourage impaired driving, and secondly, this is just another initiative that can help combat the illegal cannabis market, which still makes up more than 40% of cannabis sales in Ontario today,” Uber Eats Canada’s General Manager, Lola Kassim, told CBC Toronto.
“So, we’re providing an option that goes beyond in-store, that goes beyond pickup and it’s also an option for consumers on a platform like Uber Eats, which many Torontonians already know and love and also is built on, you know, trust and safety.”
Investors call for legalisation of marijuana
While marijuana is not yet legal in Nigeria, serial investors are making a case for it to be, with the Chief Executive Officer (CEO) of venture capital, SAANA Capital, Aloy Chife, asking that the country should take the same path as Canada, United States (US), and other countries that have legalised it.
Chife said legal cannabis will boost foreign exchange in Nigeria. “I believe it’s high time Nigeria legalized Marijuana. It’s now fairly legal in the US and other countries. We can earn a lot of Fx exporting the oils”, he wrote on Twitter.
Since the establishment of SAANA Capital in 2012, the VC has invested in early-stage tech startups in various market segments; Online Services and Marketplaces, Health Care IT, and ePayments.
Explaining further, Chife said, “Many US states license marijuana businesses and President Biden recently committed all sentences for possession. Nigeria can farm and export marijuana oil.”


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|Glosfer founder and CEO Kim Tae-won / Korea Times photo by Choi Won-suk|
Glosfer founder refutes segregating bitcoin, blockchain
By Kang Seung-woo
Here is a potential murderer. But he has business potential and will be able to earn a lot of money for us in the future. What should we do? Should we imprison him to prevent him from going on a killing spree or should we let him make a fortune for us at the expense of several lives?
This is an analogy that Glosfer founder and CEO Kim Tae-won came up with regarding blockchain, the base technology for digital currencies such as bitcoin. He regards blockchain as a future growth engine but worries about its negative short-term impact, which is something like gambling.
"If I am in charge, I would put the potential murderer in jail. We have no choice but to do so at a time when transactions of cryptocurrencies go like gambling here. Ethics should come first before business," said Kim who established the blockchain company in 2015.
"But the thing is we cannot promote blockchain while suppressing digital tokens just as some politicians or bureaucrats say. Such separation is possible theoretically. But in reality, it makes no sense."
Many experts agree. Some say such an idea of dividing virtual money and blockchain is like encouraging the engine business while banning vehicular navigation as a whole.
For Kim, blockchain is sure to be a future norm. That's why it is agonizing for him to "imprison the potential murderer who is also a future cash cow."
"Blockchain is now in its fledgling stages. The technology that is based on decentralized and immutable platforms will take center stage soon. I am 100 percent certain of that," the footballer-turned-entrepreneur said.
"The development of blockchain technology will speed up. My job is to make people understand how blockchain can revolutionize our daily lives. I want to encourage people to know about the current blockchain technology although it is in a nascent stage."
Kim's company conducted its initial coin offering last year to attract almost 15 billion won ($1.4 million). On the back of that, the Seoul-based outfit created a genesis block for its own cryptocurrency called Hycon early this year.
In fact, the first block was made at 3:15 a.m. on Jan. 4 to commemorate the creation of the bitcoin blockchain on Jan. 3, 2009, at 6:15 p.m. Kim picked the time as Greenwich Mean Time is nine hours behind Seoul.
"Ethereum enabled developers to create its own digital tokens without having to create their own blockchain based on smart contracts. But it is very difficult to use and there is no killer application yet. Plus, they cannot escape the Ethereum blockchain," Kim said.
"By comparison, we help developers make their own blockchains in an easy way. To secure computing power in the early stage, they can depend on cloud services. Hence, we call our platform a third-generation blockchain. We will see killer applications very soon."
Glosfer and its affiliates employ around 100 people. Among them, 20 percent are foreigners who came to Korea from such countries as the United Kingdom and France.


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In many sectors of industry, companies are facing new or more stringent challenges in industrial parts and surface cleaning. New manufacturing and fastening techniques call for new coating technologies and suitably adapted cleaning solutions.
When it comes to removing particulate residues and surface films in such applications, the demands are on the rise. Also in fields such as the semi-conductor industry, medical technology and mechanical engineering, the specifications for part cleanliness are becoming more and more stringent. Mastering these challenges is the name of the game at parts2clean, the international trade fair for industrial parts and surface cleaning, which is being staged for the 17th time from 22nd to 24th October 2019 at the Stuttgart Exhibition Centre.
In the face of global competition, companies need to offer cleaning solutions capable of delivering consistently high results, both quickly and cost-effectively. To an ever greater extent, the levels of cleanliness achieved need to be documented on a continuous basis, and the results stored until the next processing stage or even up through delivery to the customer.
“The exhibitors at parts2clean will be presenting solutions for every requirement. parts2clean is the top international get together for the industry, and a prime showcase for best fit solutions and the latest technological advances and trends,” says Olaf Daebler, global director of parts2clean at Deutsche Messe.
parts2clean is the premier international source of know‑how and purchasing options for industrial parts cleaning, and the show’s visitors come in search of solutions for highly specific requirements.
Having joined the magazine in 2012, Claire developed her knowledge of the industry through the numerous company visits, exhibitions and conferences she attended both in the UK and abroad.
Claire prides herself on keeping readers well informed and up to date with the latest industry news.


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If you want to know what the current patent battle is about the answer is simple: money. The bottom line is that Apple and Microsoft’s litigation against Google are nothing more that attempts to undermine the Android mobile operating system, which, for those who don’t know, the search giant gives away free, gratis and for nothing to mobile phone manufacturers such as Samsung, HTC, LG and Motorola. This is unacceptable behaviour in Cupertino and Redmond, where serious cash is generated by “selling” operating systems – but I digress.
The bottom line is that I applaud Google’s acquisition of Motorola’s mobile phone business because has potential to defuse the ridiculous patent litigation from Apple and extortionate license fees demanded by Microsoft. You see, Motorola has been around a lot longer than either of those two and has a portfolio of over 17 000 patents. That gives Google the option to threaten litigation of its own and, thereby, keep Android free-of-charge and unburdened by unreasonable licensing.


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Entrepreneur Foundation of Ghana (EFG), in collaboration with Ghana Standard Authority, have opened nomination for the maiden edition of Ghana Made Products Awards 2013, scheduled for October 2013.
The award will provide the platform for improving Ghana made products as well as create awareness, loyalty, recognition and prestige for the goods.
The Ghana Made Products Awards will enable consumers to discover new and quality products manufactured in the country.
Mr. Sam Ato Gaisie, Founder and President of EFG, in a statement issued in Accra on Thursday and copied to Ghana News Agency said the event is about showcasing Ghanaian products to the citizenry across the country.
Despite the numerous challenges that the local industry is facing, its biggest challenge has to do with the unfair competition from low quality imported goods on the Ghanaian market, which is holding back the advancement of the private sector and economic growth of the country.
There are a lot of quality Ghanaian products which are better than some of the imported products. The statement said the phenomenon creates unusual surge in demand for foreign exchange and affects Bank of Ghana’s foreign exchange cash flow.
Specific products that are adjudged by the consuming public as embodying the highest standards of quality will receive the Best Ghana Made Product Awards.
The Award for Products Excellence will recognise market-leading products that demonstrate overall Product Performance and Quality offering a point of difference from competitors. Products entered in this category will be scored against core criteria.
These include: Product Excellence and Quality, Product Content (local materials), Product Innovation, Product Value, Product Leadership, Product Features, Product Benefits, Product Value and Sustainability.
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Sony talks about the next-gen PlayStation 5, demoing super fast load speeds, and its cloud gaming future.
Recent PlayStation 4 Pro Stories
Sony has quietly released a quieter new version of its PlayStation 4 Pro video game console.
Sony sold more than 500 million units of the PlayStation to date. And to celebrate, the company is releasing a gorgeous new PS4 Pro.
For the first time, Sony sold fewer PlayStation 4 consoles in the holiday quarter than it did a year earlier. What happens next?
Nintendo's hybrid approach to video gaming proves that this firm still has a unique and innovative role to play in this market.
The NPD Group has published some interesting data about the performance of the video game industry in 2017.
After quietly allowing Xbox One X to dominate the headlines over the holidays, the Sony PS4 Pro is back. Sort of.
We finally have a first look at comparing the PS4 Pro graphics to the Xbox One X and to little surprise, the Xbox One X is far superior.
In a stunning reveal, Microsoft's new Xbox "Project Scorpio" was evaluated by an independent outside party and found to significantly outperform Sony's PlayStation 4 Pro.
Sony announced this week that it now supports 4K/UHD video playback on its flagship PlayStation 4 console, upping the stakes in its battle with Microsoft.
Make no mistake when it comes to virtual reality (VR). It's not a fad. And it's only going to get better over time.
This year I've spent a lot of time in the PlayStation camp in order to understand how this platform compares. But I'm sticking with Xbox.
Here's another punch to the solar plexus for Call of Duty fans stuck on Xbox One: PlayStation 4 gamers who pre-ordered certain versions of the next Call of Duty game, called Infinite Warfare, can now download and play Modern Warfare: Remastered.
Starting with Call of Duty: Black Ops 3, Activision has delivered game DLC to PlayStation 4 users first, leaving Xbox gamers in the lurch. I don't mind being a second-class citizen, but this is ridiculous.
You have to wonder about Sony, a company that inexplicably chose to introduce its new PlayStation 4 Pro on the same day that Apple unleashed the iPhone 7. But now the firm is facing more serious questions: Are the PS4 Pro's vaunted 4K capabilities even real? Is it all a lie?
For a brief, shining moment, Microsoft's nifty new Xbox One S dominated the video game headlines. And then Sony and its PlayStation 4 Pro happened. And now everything is different. Again.
Sony today announced two new video game consoles. A new cost-reduced PlayStation 4 model will replace the current console, and the new PlayStation 4 Pro will provide basic 4K gaming capabilities.


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Sometimes it’s difficult for women to speak openly about their menstrual cycles -- just think about all of the hilarious euphemisms for periods that are out there. Now Kotex is trying to make women more comfortable discussing their periods openly in China, AdAge reported. And they’re using social media to do it.
The feminine hygiene brand is sponsoring a five-episode video series titled “Stuff Girls Don’t Say,” aimed at young women in their teens and 20s. Sina Weibo, a microblogging website which has 300 million Chinese users, acts as a host for these videos. They all feature the fictional female character An Xiaoqi, a young woman living in Shanghai. The character existed prior to Kotex’s involvement, and already had about 150,000 fans on Sina Weibo, according to a press release. “[We wanted to be] able to build personal relationships with our target audience in a way that wasn't "advertising' or selling, but more da jiejie [female mentor] in style," Bill Li, Asia Pacific senior e-marketing manager at Kimberly-Clark, the corporation behind Kotex, told Ad Age.
The lighthearted videos feature Xiaoqi and friends in situations where they probably would want reliable feminine hygiene product -- such as in the middle of a lunch date or during a busy day at the office. Two of them star Xiaoqi as talk-show host nicknamed “Da Qi Ma,” a play on the slang term “Da Yi Ma,” a popular Chinese period euphemism, reported AdAge. Xiaoqi doles out advice to young women, letting them know that white clothing is OK to wear while you have your period -- just don’t forget to use a little protection. The videos also focus exclusively on sanitary pads, as tampons are less common in China.
Kotex apparently hopes that these videos will get women talking more openly about their periods, and eventually the brand. According to a press release:
The Weibo-driven campaign was designed to raise awareness about the Kotex brand, educate women about personal care issues and eliminate the stigma surrounding the subject of menstruation.
The menstruation taboo is hardly specific to China. Always became the first company to run a feminine hygiene ad using the color red to depict the blood that ends up on menstrual products (just one red dot). And in May, VICE contributor and photographer Emma Arvida Bystrom shot a series of photos titled “There Will Be Blood,” depicting women bleeding through their clothing. The photos generated a discussion about the “shock value” of menstrual blood, and revealed the discomfort still associated with the subject. It remains to be seen what An Xiaoqi’s contribution to that dialogue will be in China.
Related on HuffPost: Period Euphemisms In Movies


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Two Complaints Filed with NHTSA
On Sept. 21, 2013, a driver of a 2013 Tesla Model S was pulling down a driveway, with the brake “constantly applied,” when “the car suddenly accelerated. It hit a curb and the middle portion of the car landed on a 4.5-ft.-high vertical retaining wall. … The front portion of the car was hanging up in the air.”
That’s what we know from a complaint filed recently with the National Highway Traffic Safety Administration (NHTSA), but it was enough to set off a tremor in the force, with a number of media outlets recalling the Toyota “unintended acceleration” controversy. And now, another driver of a 2013 Tesla Model S has come forward with a similar story, according to a complaint filed a few days after the first one.
In the second case, according to the driver, who was stopped and waiting to turn into a parking structure, “I released my foot off the brake pedal and the car instantly surged forward very fast and hit another vehicle.”
Tesla has yet to make an official statement about the situation, and frankly, that second complaint comes across as a bit hinky, at least to my eye. Although the filing date is Sept. 26, 2013, the incident date is July 29 of this year, and the driver goes out of his/her way to explicitly note “there is no other term to describe this other than sudden acceleration” and that “Tesla instructed their staff not to communicate with me about this accident.”
Be that as it may, Autobytel.com will continue to follow developments in this story as they happen.
Also, there were only five total complaints about the 2013 Tesla Model S in the NHTSA database, so it was easy to peek at all of them, and one other caught my eye: An owner had discovered that some nuts on the ride side of the rear bumper cross-member had not been tightened properly … when he/she removed the bumper cover to install a trailer hitch!


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Here is the press release.
We interviewed CEO Frank Addante last year and have republished the clip today.
Andy Plesser, Managing Editor
Kristi Argyilan, president of Target’s Roundel unit, will be among the featured speakers at the annual Beet.TV executive retreat taking place in San Juan on February 5-7. From her days as president of MAGNA Global to her pioneering work at Target and for the formation of Roundel, Kristi is among the most admired, innovative executives […]
Although the TV world has spent the last five years considering the subscription video (SVOD) boom, a growing trend in ad-supported TV services (AVODs) is opening new opportunities for new entrants and for advertisers alike. Alongside Peacock, Pluto TV, Tubi and others, Samsung launched its own Samsung TV Plus, its own gateway to over-IP TV […]
LAS VEGAS – Consumers are living in an age in which there’s almost an expectation that any product or service that they purchase will be customized. In an interview with Beet.TV, Jim Cridlin, global head of innovation and partnerships at Mindshare explains that television is now headed on this path. “You see a tremendous explosion […]
Ampersand, the TV advertising and sales company owned by Comcast, Cox and Charter, is putting its vast data network of 38 million households to work with a new external platform that lets partners create audiences on the front end and measure performance on the back end. Called The AND Platform, the launch follows NCC Media’s […]
Music video distributor Vevo may not favor comparisons with the traditional giant of televised music video broadcasts, MTV – but there is one screen where many will find the parallel impossible not to draw. Having historically found two-thirds of its users from mobile, now – thanks to a strategy called “Vevo Everywhere” – it is […]
LAS VEGAS — The upfronts, the annual season in which US premium content owners tout their upcoming roster of programming in a bid to win advance ad bookings, is around the corner. But, this time, things could look a little different. So says the strategy chief of an ad-tech firm aiming to help the industry […]
LAS VEGAS– With a streaming landscape that continues evolving, client expectations have changed as well. In an interview with Beet.TV at the Consumer Electronics Show, Roseann Montenes, vice president of precision & performance ad sales at A+E Networks, explains that these changes vary depending on how each client defines “performance”. There’s no one-size-fits-all approach to […]
It may have started out solely on YouTube and may have been cast simply as an online version of MTV, but music video network Vevo has bigger ambitions than that. In this video interview with Beet.TV, the company’s ad sales SVP Jesse Judelman explains that partnerships with a host of other platforms have given it […]
When OpenAP, a TV industry consortium for making advanced TV targeting more straightforward, announced the addition of CBS to its repertoire last year, it was just the latest addition to a roster that now numbers: Fox ViacomCBS NBC Universal Univision But Ed Davis isn’t stopping there. In this video interview with Beet.TV at Consumer Electronics […]
A new year, a new decade may have only just begun but, for some, minds are already turning to the key point in the US TV ad sales calendar. Upfronts season peaks in May, when video and TV content owners showcase their upcoming repertoire in a bid to secure advance ad buyers from brands and […]


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With the growth of online shopping, how can digital signage evolve customer-facing environments and impact the shopping experience?
Online shopping is drastically impacting brick and mortar stores. Retail is evolving more quickly than some companies are able (or willing) to adapt, and in the race to a finish line that keeps edging out of sight, many big brands are stumbling off course. However, both Toys “R” Us and Sears have more than just online retailers to blame for their demise.
Hundreds of retailers have filed for bankruptcy this year in the U.S. and Canada, including Toys “R” Us with more than $5 billion USD in debt, making it the third largest retail bankruptcy in history. Some forecast that “Retail is Dead,” and with the collapse of companies like Sears, it’s not hard to chime in. But is it true? Walk into an Apple store, the local Starbucks or IKEA, and the answer is clearly NO. But it’s more complicated than that.
Toys “R” Us may have been doomed since 2005 when private equity firms loaded the company with debt to take it private, making it financially difficult to invest in innovation. They were slow to embrace e-commerce, essentially allowing the competition to beat them online. The rise of mobile devices as entertainment for children, discount retailers, online shopping and indie retailers like Mastermind Toys stealing market-share have all added up to disaster for Toys “R” Us. Efforts to revitalize the brand were half-hearted even though it was clear the company was in trouble. Debt prevented Toys “R” Us from making the substantial, transformative changes that were really needed.
Sears had additional challenges. Customers are shopping at large discount stores like Walmart for day-to-day needs, buying more from online retailers like Amazon and indulging in brand-name luxury items at Nordstrom’s, leaving a gap for department stores. 18 months ago, Sears decided to right-size and refocus their offering around fashion and home décor, but this effort (which included a new logo and store design) meant competing in a fierce marketplace. Fashion was not Sears’ strength, and even H&M now offers home décor. Sears would have been better off focusing on appliances and housewares, where they have strong brand association and trust, rather than try to compete in an extremely over-saturated market where they were not really contenders.
Retailers cannot afford to wait and see or make choices that are not strategically vetted. An immersive experience is the new retail presence, and the best retailers are killing it. Nordstrom allows you to instantly buy items you like on Instagram. Bonobos has “guide- shops” where merchandise can be viewed, touched and tried on, but not taken home, to introduce their online brand to brick-and-mortar retailing. And Apple has changed retail stores from a place that sells products to an experience where the brand is so crisply defined at every touch point, it couldn’t be anything else but Apple.
Retail is not dead, but it has transformed and is still evolving. Many retail trends are helping in this evolution: Omni-channel, big data, digital marketing, mobile commerce, interactive engagement, AR/VR. They are all shaping how we define retail today. These opportunities have one goal in common — creating immersive experiences, which redefine how customers interact with brands. There is a pivotal moment when trends stop being referred to as “game changers” and become common practice, moving from the most talked about, landscape-shaping factors to becoming the everyday fabric of the industry.
There is one “trend,” if it can still be called this, that stands out above the rest, which has the capacity to shape the future of how we shop, buy and interact with the built retail environment. This “trend” is best described as “immersion” — a retail state where the barriers between the physical and virtual worlds disappear and become one. And the new technology and channel proliferation offers retailers the opportunity to move beyond brand engagement toward full immersion in a brand story. Retailers that embrace immersion most effectively and creatively will be the big winners, while once-iconic giants like Toys “R” Us and Sears fade into distant memories.
View more of my industry thought leadership and educational insights:
SEGD Educator, Member, and Speaker
RGD Mentor, Member, and Educator
Digital Signage Federation
Toronto Council Board Member, Educator, and Speaker
Digital Signage Connection
Content Advisory Board
DSE Advisory Board


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The Elder Scrolls: Legends is growing with the all-new Heroes of Skyrim expansion.
The future of computing is 64-bit. Here's what that means for iPhone users.
We've got a fresh look at everything users can expect from Apple's new iPad Pro models.
The card game's latest story addition sees players dancing and slaying their way through three all-new areas.
An idea like this has crossed Apple's mind.
An Android tablet version and a new campaign update are soon to follow.
To commemorate the launch of Fire Emblem Heroes
This gaming toothbrush teaches children how to brush correctly while making the experience fun.


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Rome’s iconic Spanish Steps getting a facelift
ROME (AP) — Rome’s iconic Spanish Steps are getting a makeover.
High-end jeweler Bulgari is donating 1.5 million euros ($2 million) to the city of Rome to restore the staircase that connects the swank Piazza di Spagna with the Trinita dei Monti church above.
It’s the latest Italian luxury brand to step in to spruce up Rome’s historic landmarks as public funding dips. Shoemaker Tod’s has put up 25 million euros to restore the Colosseum while fashion house Fendi is handling the Trevi fountain.
The restoration announced Thursday involves cleaning the travertine steps, removing plants that have sprung up in cracks and repairing steps that have been chipped since the last major renovation in 1995.
Bulgari, whose flagship store is just down the street, offered the funding to mark its 130th anniversary.


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Pinterest has been working extensively into providing both insights and usability to its users. After a series of important updates, Pinterest has added a new feature for Chrome users that will make pinning even easier than before – and not only.
The new add-on for Chrome can be downloaded from here and it’s easy to install. After that, a small Pinterest button will appear on top right corner. Each time you find something interesting on the web, you can pin it by clicking it.
Apart from that, this new add on offers a few other functionalities. Once installed, Chrome users will be greeted with a new pin on each time the open a new tab or a new window. The selection of pins comes in high resolution and can be fully customisable. Users can select the images they want to see from a range of interests.
Do you think that this new addition will help Pinterest grow its user engagement?
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Pinterest is introducing a new feature called shopping spotlights that brings expert recommendations from influencers and publishers directly to consumers.
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Cards end run to Final Four as UK prepares for Indy
LOUISVILLE, Ky. (WDRB) – Sunday's loss to Michigan State was not easy on the Louisville Cardinals or the team's fans. While some celebrate the season, their in-state rivals prepare for the Final Four.
It was a back-and-forth game Sunday between the Spartans and Cardinals. Fans at the New View Bar and Grill in Highview couldn't get enough.
"It was just ‘Cardiac Cards', I mean that's what they're known for," said Vicky Bauscher, who wishes her team could've pulled out a win.
"It's … well you can see I'm fanning myself," she said. "It's just very upsetting and exciting."
"It was a great game, it was a great effort but we just couldn't hit shots in the second half," another fan said.
The road to the Final Four comes to an end for Louisville but Kentucky fans are ready for the next big game.
"Well we took a gamble this year and we pre-ordered Kentucky shirts," said Hillary Bayens, manager at JD Becker Superstore.
The company celebrated with brand new UK shirts ready for the Final Four game next weekend. Phone calls started coming in Saturday night after Kentucky's win.
"We were closed last night at 8 p.m., so we have a couple voicemails and then today, this morning when we got here, there were people outside and as soon as we opened the doors they started flowing in," Bayens said.
Nike's ‘Cut the Net' t-shirt was a very popular purchase.
"Saw them after the game and had to have one," Adam Smith said. “Personally ,I'm a fan of the gray. It's a little different and it's simple. I like it."
The store also has a design that lays out Kentucky's 17 Final Four appearances and another that says Unbeatables showing the 38-0 record. But some fans are too superstitious to buy.
"I usually wear the same t-shirt and I wear the same sweatshirt," Daniel Ridener said.
He's waiting until the team actually wins before snagging the new gear.
"I just don't want to jinx it, don't want to jinx the win - Wisconsin is awfully tough too," Ridener said.
Even though they didn't beat Michigan State, Cards fans are still proud of their team and some will now root for the Cats.
"I root for pretty much any Kentucky team, but yes I'll be rooting for the Cats as well."
"No, I don't like the Cats,” one man said.
But his wife replied, “Oh no! I love the Cats."
Kentucky takes on Wisconsin next Saturday in Indianapolis.
As for other Final Four gear, JD Becker will be getting new UK hats on Tuesday.
Copyright 2015 WDRB News. All rights reserved.


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2019 volkswagen polo suv | car review @ top speed, Concept cars ; car fuel. 2019 volkswagen polo suv . review; for its first compact suv as well as a new design language that will found on future vw.
Future cars: design concepts & photos – motor trend, Look to the future! view the latest concept cars, spy photos and motor trend’s famed future vehicle forecast..
2018 – 2019 volkswagen cars – part 2, 2019 volkswagen golf gte sport concept and change – volkswagen is with no doubt identified to surpass around the topic of making cutting-edge types..
Volkswagen | 2018 / 2019 future cars category, 2018 / 2019 future cars. release date, price, news. menu . acura; audi; bmw; chevrolet; ford; honda; jeep; price – the new 2019 vw tiguan coupe r will soon be.
2019 volkswagen teramont | car review @ top speed, Volkswagen teased the world with its crossblue concept at the 2013 north american international nbsp , car review by top speed.
2019 volkswagen -roc prototype drive | review | car , 2019 volkswagen t-roc vw showed a t-roc concept at geneva that blended crossover and convertible car news + volkswagen golf and gti getting updates for.
Vw jetta news | 2018 / 2019 future cars, release date, Vw jetta news new cars, get the latest news 2017/2018 car review, release date, redesign, price and info for future cars.
Volkswagen | future car 2019 / 2020 future cars, 2019 jeep grand wagoneer concept and release date – one of the jeep cars that will be released for future market is….
Volkswagen | 2018 / 2019 future cars category, 2018 vw passat redesign, powertrain – the 2018 vw passat will be much different from other competitive models like volkswagen […].


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Retailers have called on the Welsh government to compromise over its ban on the sale of non-essential items, as talks continued today following a huge public backlash over the clampdown.
This morning the Welsh Retail Consortium, the CBI and ACS joined forces to call for a rethink, which would allow customers to use their discretion over which items are classed as non-essential.
Although the Welsh government has indicated it will not fully reverse the ban, ministers have said they will review which items are included, amid concern that shoppers are being banned from buying items including clothes, books and a raft of homeware items.
Business leaders have expressed anger that staff have been forced to police the new rules, due to last for 17 days, even though they have been described as unenforceable by police chiefs in the country.
More than 60,000 people in Wales have signed a petition against the ban, whcih is intended to reduce the spread of Covid-19, though ministers have also admitted it is an economic policy to tackle unfairness at supermarkets being able to sell products banned elsewhere.
The group’s compromise proposals say that retailers would pledge to “prominently display” Welsh government-approved signage in front of known non-essential items and in communal areas.“The signage will make clear the government’s regulation and the need to abide by it,” it said.
“This message will be reinforced through in-store announcements and social media messaging. Advising customers to put off non-essential purchases.”
The compromise proposals added: “We recommend the individual customer is trusted to make their own decision as to whether a product is non-essential or not, taking into account the notices displayed throughout the store and their immediate needs.
“If the customer goes ahead with the purchase of the item the final liability ought to rest with the customer.”
The trade bodies also vowed that if the government accepted the plans they would remove in-store promotional displays of non-essential items in order to minimise browsing and avoid triggering non-essential purchases.
“These recommendations would mean non-essential items are not removed from shelves – or cordoned off in stores - but large notices are placed in front of the products and in communal spaces informing customers of the Welsh government’s regulations and the Welsh public are trusted to make the right decision,” said the proposal.
Further talks were being held between the Welsh government and the groups this morning.


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Overseas consumers spent more at McDonald's Corp. in August, leading the nation's No. 1 hamburger chain to surprise investors by posting a big rise in global same-store sales on Tuesday.
The chain said its worldwide same-store sales, or sales at locations open at least a year, jumped 8.5 percent during the month.
Same-store sales are a key indicator of restaurant performance since they measure growth at existing locations rather than newly opened ones.
The increase follows a rise in global same-store sales of 8 percent in July and compares to a boost of 8.1 percent in August last year.
Analysts were largely expecting a lower increase, with U.S. consumers cutting back on spending, pockets of economic weakness appearing in some overseas markets and the dollar strengthening against currencies abroad.
"It's a real strong performance," said Morningstar analyst John Owens. "It's impressive."
Same-store sales grew in every region. In the U.S., the chain said they rose 4.5 percent, driven by the company's breakfast menu, a promotion tied to the Olympics for the Southern Style Chicken sandwich and biscuit, and "everyday affordability" with a focus on beverages. In August, McDonald's priced its Sweet Tea at $1 nationwide.
The rise in U.S. same-store sales, though, fell short of the 6.7 percent jump in July and the 7.4 percent rise the company recorded last August.
Most restaurant chains are seeing slower sales this year as consumers cut back on discretionary spending due to high gas prices, tight credit and the weak housing market. McDonald's — with its dollar menu and fast service — has fared better than most, but the chain has said it is not immune to the effects of the economic slowdown.
Still, the U.S. bump either met or beat the expectations of most Wall Street analysts.
Owens said the chain served more customers during the month and also may have benefited from price increases made during the last quarter.
The big surprise was the strong performance of the chain's overseas locations.
In Europe, where the economy is also slowing down in some areas, same-store sales climbed 11.6 percent. Performance was particularly strong in the U.K., France and Germany, McDonald's added. Same-store sales jumped 10 percent in the Asia-Pacific, Middle East and Africa division, helped by promotions tied to the Olympics in Beijing.
Most analysts had expected same-store sales overseas to rise by single-digit percentages.
Systemwide sales, which includes franchisees, rose 14 percent during the month worldwide and climbed about 5 percent in the U.S.
Several analysts, including Stifel Nicolaus' Steve West, raised their estimates for profit in the third quarter and full year based on the strong monthly sales.
"McDonald's solid results continue to have us, 'Lovin' It'," West said in a note to investors.
Buckingham Research analyst Mitchell J. Speiser, meanwhile, said in an analyst note that he expects the company to raise its dividend by at least 20 percent. Speiser also raised his price target by $2, saying there's "lots to look forward to in 2009," including the national rollout of espresso coffee beverages and an Angus burger sandwich in the U.S.
Shares of McDonald's rose $1.55, or 2.5 percent, to $63.97 in afternoon trading.


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Karndean Designflooring Names Commercial VP
Export, PA, Sept. 11, 2012 -- Karndean Designflooring has named John Bonney vice president of commercial sales for the U.S.
Other Archived Articles
Bonney has 30 years industry experience, most recently serving as sales director at Centiva Flooring.
Prior to Centiva he spent 15 years at Marley, a UK-based flooring company.


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Online used car prices stay stable in Q3, reports Autorola
Autorola added that it saw a gradual surge in used car stock coming onto its online platform from the new registration release in September, but prices have remained stable during Q3.
Average prices are 9.2% higher than this time last year, with average vehicle mileages down by over 1,500 miles, compared to the Q3 2013. This suggests motorists and company car drivers are using their cars less or driving shorter distances.
'The last six months have seen supply keep up with demand – just. The result is a very different picture to this time last year, when Q3 average prices fell by 4.0% over the previous quarter,' said Jon Mitchell, Autorola UK’s sales director.
He added: 'September used volumes weren’t as high as expected so demand for good quality used cars continued to outweigh supply, although this is likely to change in October when a large percentage of the September plate part exchanges hit the market.'
|Sold Period||Average Reg/Year||Average Mileage||Average Sale Price||Quarterly rise/fall in prices|


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Tom Anderson has been out of the social network game for years, but lately it seems like he wants to get back in. The MySpace founder has become one of the most active and followed users on Google+ since its launch, and he also spends plenty of time ...
URL shortening services that allow you to truncate lengthy Web addresses into shorter links have been around for a while now, but today Google announced g.co, a new URL shortener that links only to official Google products and services.
Google has acquired G.co to use as the exclusive domain for shortened URLs of its sites, following in the footsteps of other major Internet companies that have bought .co domains recently and bypassing the crowded field of .com sites.
The Wikimedia Foundation is in the process of adding a ratings feature to all English-language articles on Wikipedia, so that readers can evaluate their quality based on several criteria.
China's largest search engine, Baidu, has begun offering downloads of its new Internet browser, which boasts its own collection of 30,000" apps" that can quickly connect users to online games, videos and other tools.
Trademark owners can prevent their names from being misused in the new .xxx top-level domain by blocking these names, ICM Registry, the Florida-based registry operator for the .xxx top-level domain said.
Adobe Systems said on Monday that it has acquired EchoSign, a web-based provider of electronic signatures and signature automation, for an undisclosed amount.
Cloud storage seems like such a no-brainer for backups and disaster recovery, it's a wonder that more businesses aren't taking advantage of it. If you're concerned about cloud outages, cloud storage costs, data loss, data security, or the ability to ...
Citrix Systems this week bought Cloud.com, a 70-employee start-up that makes cloud infrastructure software. At the same time, it acquired what may be one of today's most desirable tech domain names, cloud.com.
Google+ seemed like a boys club at first, but recent estimates point to a growing number of women using the Internet search giant's social networking service.
We got our first official look inside Google+ this week thanks to Google's Q2 earnings announcement, where we learned the nascent social network has amassed 10 million users. Other sources say that those users are primarily male and more engaged in d...
By now you've probably heard that Google and other search engines are making us think differently. Columbia University researcher Betsy Sparrow said we are remembering less information if it is readily available online, but we are remembering where w...
Twitter stands to lose a lot of clout -- and money -- if it flubs its social search deal with Microsoft's Bing like it did with Google.
Facebook should focus on continuing to deliver a solid product rather than worrying about ads on its site that promote rival social networking service Google+.
Google has removed a service that predicted travel times with traffic from the browser-based version of Google Maps.
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The boost follows a tough year, hampered by Tesla Model 3 production. Tesla is going to focus its efforts on the Solar Roof for the coming year, CEO Elon Musk told an audience Thursday. The company’s energy-collecting tiles, which look like a standard roof to the untrained eye, have wowed onlookers with their sleek design
Tesla activated the special ‘Storm Watch’ mode of its Powerwall 2 home battery pack to keep the lights on at its customer’s homes with the upcoming cyclone in Australia. Last year, Tesla started integrating features for Powerwall and solar customers to its mobile for vehicle owners.Earlier this year, it included adding a new ‘Storm Watch’
Strong demand for electric cars from both Tesla and other manufacturers has pushed up manufacturer costs for lithium ion batteries.
Dive Brief: Tesla is on track to triple its 2018 energy storage deployments the company said in its third quarter letter to investors.The company’s “historic” quarterly results included a 70% increase in quarter-over-quarter revenues and $312 million in net income, according to the letter.
The Vermont Lower Income Trust for Electricity have provided a $150,000 grant for 100 low-income electricity customers with significant need for reliable backup power due to health and mobility issues. In 2017, after Hurricane Irma hit Florida, a nursing home in Hollywood, Florida lost power and fourteen of their patients passed away. A medical examiner
In the first two quarters of 2018 Tesla deployed 40% more energy storage than all of 2017, with 300-400% growth expected for 2019. Solar power deployments grew 11% to 84 MW over a low Q1 value.


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Rovi Corporation (ROVI) (NASDAQ (NBI): ROVI) and TiVo Inc. (TIVO) (NASDAQ: TIVO) announced that Rovi will acquire TiVo for $10.70 per share in cash and stock for total consideration of approximately $1.1 billion.
The new company combines two companies with complementary products, services and intellectual property assets. TiVo is a leader in user experience and content discovery for traditional television, OTT and on-demand content into one experience across devices. Rovi’s strength lies in guides, personalization, advertising, analytics and cloud services.
Combined they serve nearly 500 service providers across the world. The deal will add more than 10 million TiVo-served households to Rovi’s current base of approximately 18 million households using Rovi guides worldwide.
The company will continue to be led by Tom Carson and upon closing of the transaction will adopt the TiVo brand as the new company name.
On a pro forma basis, for the 12 months ended December 31, 2016, the combined company is estimated to have more than $800 million in revenue after purchase accounting adjustments. The combined company is expected to realize at least $100 million in annual cost synergies, with 65 percent of these synergies recognized in the first 12 months. The expected synergies are in addition to TiVo’s targeted current year $32 million Adjusted EBITDA increase from restructuring and margin improvements.
“Rovi’s acquisition of TiVo, with its innovative products, talented team, and substantial intellectual property portfolio, strengthens Rovi’s position as a global leader in media discovery, metadata, analytics, and IP licensing,” says Tom Carson, CEO of Rovi. “It’s an exciting time as the media and entertainment landscape undergoes a significant evolution. The combined capabilities of TiVo and Rovi place us in a tremendous position to extend services across platforms and to a customer base that includes traditional, over-the-top and emerging players across the globe. By working together, Rovi and TiVo will revolutionize how consumers experience media and entertainment and at the same time build value for our stockholders.”
“We’re proud of TiVo’s strong innovation history and of the ongoing efforts of our team to provide best-in-class products for our loyal consumer and service provider customers,” says Naveen Chopra, Interim CEO and CFO of TiVo. “This transaction is the culmination of those efforts and the logical next step for TiVo. In joining forces with Rovi, our customers, employees and stockholders will benefit from being part of a more diversified industry leader with significantly greater market opportunities. Our combination creates a more influential global player with a commitment to product innovation, which will be incredibly well positioned to redefine television.”
The two companies have invested over $1.5 billion in R&D over the past 10 years and have worldwide portfolios of over 6,000 issued patents and pending applications.
Rovi will pay $10.70 per share in cash and stock, approximately $1.1 billion in aggregate consideration. It will also pay $2.75 per share in cash, or approximately $277 million, subject to adjustment. The offer represents a premium of approximately 40 percent over TiVo’s closing price of $7.66 on March 23, 2016.


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Kylie Jenner fans hoping to shop at the star's pop-up are met with a long list of RULES while waiting - and they can't find out how much their items cost until they go to the register
- The 19-year-old debuted her pop-up shop on December 10, and also launched a corresponding e-shop
- Fans have been lining up before the store opens to snatch up clothes and make-up, which don't have price tags
- A list of rules is posted outside that forbids sitting, leaving the line, or joining friends who are already waiting
Even the chaotic crowds shopping at Black Friday aren't met with the same lengthy list of rules as Kylie Jenner pop-up customers.
There have been long, snaking lines at the Westfield Topanga and the Village mall since the 19-year-old first bring-and-mortar pop-up opened on December 10, and it seems fans don't mind the wait — and the strict guidelines — if it means they can visit the original shop.
Curious but less obsessive fanatics, however, have found the hoops one has to jump through draining, especially since most of what is available to buy there is also offered online.
Stay in line! Kylie Jenner fans have been met a long list of rules outside her pop-up shop
That's strict! Racked reported that shoppers can't leave the line for any reason, sit and rest, or join friends
Gotta have it: Super fans have been waiting in long lines to get their hands on Kylie's cosmetics and branded clothes
She's here! Kylie stopped by when the store opened to pose with fans and staff
Racked spotted the rules list, which is posted outside the California store. The website's reporter didn't actually make it inside though — having arrived an hour before the 10am opening, she was told she was too late.
Those standing in line aren't even allowed near the store until it opens, and in the meantime are treated to the long list of demands.
Customers are told to 'show common courtesy' to other shoppers and staff members. All groups must enter together, and no latecomers can join their freinds in line.
Spots in line can't be held — even for bathroom breaks — and no one is allowed to sit while they wait.
Have to wait... Fans have been lining up before the store even opens at 10am
Skip the lines! The store also has a newly-launched e-shop
Super fans haven't minded waiting for the products and Instagram opportunities
Bags are subject to searches, and store staff can refuse to let any customer come in. They can also turn away specific bags.
Customers with disability aren't given preferential treatment and must also wait in line. Though the sign doesn't specify, wheelchair-bound customers are presumably allowed to sit.
Shoppers also must all have their own wristbands, which they are given when they first get in line.
'I thought about how there’s a real indignity to it, the way the Kylie Jenner Pop-Up Shop Experience forces you to submit to it on its terms: to show up at some absurd hour and then wait, and even how you wait is proscribed — posted rules state that you cannot sit in line, you must stand — and then you get a wristband and 20 minutes in a store where there are no prices posted,' the Racked reporter wrote.
Inside are Kylie Cosmetics and T-shirts, hoodies, and hats with Kylie's face and catchphrases
Don't worry! Many of the items have sold out online, though Kylie said she will restock
Every shopper gets a wristband that they have to present when they walk in
Say cheese: There is also a bed that fans have been waiting to pose on
The lucky and persistent few who get inside can shop through racks of Kylie-branded T-shirts, hoodies, baseball caps, pins and buttons, and phone cases. There is also a 2017 calendar shot by Terry Richardson, as well as offerings from her Kylie Jenner Cosmetics line.
Prices for each of these items are available on the Kylie Jenner shop website— T-shirts are $35 to $45, hoodies are up to $70, and phone cases are $15 — but they are not posted in the story, so shoppers only only learn how much they are spending when they finally make it To the register.
Though the reporter wasn't impressed and seemed put-off by the rules, though, Kylie's biggest fans don't seem to mind.
'You could say I'm a little obsessed,' wrote one, while another called it 'heaven'.
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Wealth management analyst at Verdict Financial, Nicole Douglas, points out how the traditional haven of wealth management, Switzerland, is the frontrunner to watch when it comes to the growth of innovative fintech players
Switzerland is renowned for being the most traditional private banking haven, but innovative start-ups have reason to rejoice about the prospect of a fintech license in the country.
Aimed at enticing start-up companies to enter the market, the fintech license, approval for which was received by Switzerland’s Federal Department of Finance in November 2016, will increase competition in the Swiss wealth management space.
On a macroeconomic level, low taxes and a relatively stable economy make Switzerland an attractive market to do business in. But for start-up fintech companies, current regulations can pose heavy barriers to entry. However, subject to final approval, the license will grant exemption from some of the regulations Swiss banks currently face.
For instance, the minimum capital requirement of CHF10m needed by Swiss banks would be reduced to CHF300,000 under the fintech license, making it possible for start-ups to compete more easily. Since eligible companies must have limited acceptance of client assets (less than CHF100m in deposits) and no lending activity they would not be covered by Switzerland’s deposit protection scheme, which lends these companies to less stringent requirements.
Additionally, a sandbox has also been proposed that would allow fintech start-ups to trial their offering so long as the total deposits they take do not exceed CHF1m. For approved companies, a license would be granted by the Swiss Financial Market Supervisory Authority, the country’s financial regulation arm.
For wealth management start-ups in the fintech space, this is beneficial. Lowering the minimum capital requirement eases pressure on wealth management start-ups to make decisions such as whether to offer shares, which could impede future financing rounds. The proposed sandbox will also provide the opportunity to test business models and receive guided advice on how to best bring the company to market.
This move will, no doubt, help drive competition. Although start-ups will not pose a threat to incumbents initially, they will differentiate among themselves in order to remain competitive, aiming to compete with established players in the future.
Differentiation will most likely take the form of addressing items that deter individuals from investing through a wealth manager. Our 2016 Global Wealth Managers Survey shows that nearly a third of HNW investors in Switzerland choose to invest directly in order to avoid management fees. Start-ups that recognise the need for more affordable wealth management solutions and provide an attractive pricing model will pique the interest of individuals who prefer to invest with a wealth manger but are dissatisfied with high management fees.
By easing regulation, Switzerland is signaling to start-ups across Europe that it is looking to grow its fintech sector and potentially compete with Germany and the UK as a fintech hub. The proposed license also comes at a time when market volatility, negative interest rates, and a strong Swiss franc are affecting returns from investments, further encouraging clients’ price-sensitivity and demand for alternatives. With new entrants competing for market share, traditional wealth managers will be forced to revisit their fees structure and product offerings, and this is all to the benefit of customers.


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Brewers set to see new cooler
A CONTAINER which claims to keep beer cool, fresh and carbonated for two weeks or more is set to go on show in London this weekend.
GrowlerWerks is hoping to get itsÂ uKeg into the hands of consumers across the pond as they visit Genuine Liquorette in the capital on Saturday.Â
The visit '“Â which will follow display days in Amsterdam and Antwerp '“Â comes at a time when experts say the popularity of draught beer and craft beer is surging.
It was designed after its creators, from Portland, Oregon, faced a problem of their own '“Â keeping micro-brew from going bad.Â
Now they hope the pressurised, stainless steel-insulated uKeg can help eradicate that problem for brewers the world over.Â
They are distributing the product, which comes in half-gallon and gallon sizes in partnership withÂ Brouwland '“Â Europe's largest distributor of craft beer equipment and home-brewing supplies.Â
Shawn Huff, GrowlerWerk's co-founder, said: '˜We're excited to get the uKeg into the hands of more beer lovers with this pioneer of beer equipment in the EU.
'˜We're looking forward to sharing our love for the craft beer experience across two continents.'
TheÂ uKeg is vacuum-insulated, has aÂ regulator cap, contains a low-cost, food-grade CO2 cartridge and it fits in the refrigerator.Â
The growler will go on display at the event in LondonÂ on Saturday, from 3pm until 8pm.
uKeg displays will take place in Amsterdam today and in Antwerp a day later on Friday.


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- Bing may remove the additional pages on the footer of a search result where they feel page one contains the most relevant results. See a screen shot here.
- Google has teamed up with Let’s Put Our Cities On The Map to help businesses evaluate and fix their online presence.
- There are reports that Google has moved the map & local pack below the fold. This is not an official announcement by Google and some searches are still showing the map above the fold. Read this for more information.
- It appears Google is doing a test to remove the headline for “in-depth” articles.
- New details have surfaced about the mobile-friendly algorithm set to release April 21st.
1. It should take about a week to fully take effect globally
2. You either pass or fail the mobile-friendly test. There is no in-between.
3. It is on a page-by-page basis
- Twitter has unveiled a new quality filtering tool that will remove tweets that contain threats, offensive/abusive language or are spam.
- Suggested tweets are now being shown in a “You may also like” section in an effort to boost engagement on Twitter. See this screenshot as an example.
- Twitter has launched their own live-streaming app called Periscope which is in direct competition with the recent Meerkat app.
Multiple networks have started using autoplay for videos. Details are as follows.
- Twitter is experimenting with autoplay for iPhone and iPad users.
- YouTube has enabled a spin on autoplay for all desktop users in which a related video will automatically begin after one ends.
- Facebook is participating in the autoplay game as well and offering something similar to YouTube. If a related video is not clicked on in a certain amount of time the next video in the queue will play. So far testing has begun on Android and iOS devices.
If you missed last week’s headlines check them out here.


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Transak Launches Fiat Onramps to Top L2s Arbitrum and Optimism
Layer 2 blockchains Arbitrum and Optimism got a boost from a new fait-to-crypto offering.
By: Samuel Haig • Loading...Byte
Transak Finance, a team of developers building fiat-to-crypto payment bridges, launched fiat onramps for popular Ethereum L2s Arbitrum and Optimism on Dec. 22.
The bridges represent a significant milestone in the adoption of L2s, enabling users to directly transfer value onto the networks using their local fiat currency and card providers.
Without the fiat bridge, transacting on L2 would require users to transfer assets onto the Ethereum network before bridging them onto Arbitrum or Optimism, racking up significant gas fees in the process.
Arbitrum is currently the largest L2 by total value locked (TVL) with $2.41B or 44.7% of total Layer 2 market share. Optimism ranks fifth with $399M or 7.4% of the sector’s TVL.
However, social media commentators have balked at the fees and restrictions placed on transactions executed using Transak’s bridge.
Twitter user “santandret” recoiled at the service’s 7.5% fees, while “Chris_HKG” noted that credit card transactions are capped at $500 each. “I think I will stick to ETH mainnet gas fees, at least it goes to the network,” they added.
Although the service is not currently offered to U.S. residents, Optimism states it is working on alternative solutions for American users in partnership with other teams.
Transak is an India-based firm that was incubated in Ethereum-focused tech firm ConsenSys’ accelerator program, Tachyon.
Transak stepped out on its own in 2020, launching on-ramps enabling direct crypto purchases using the fiat currencies of nearly 30 different countries via a partnership with API Payments firm Wyre during that May.
While the firm initially positioned itself as a business-to-consumer marketplace facilitating cryptocurrency purchases and sales, it quickly secured integrations as a fiat bridge for the Matic and Wazirx networks. Transak has expanded to enable direct fiat access to top DeFi service providers, including Metamask, Aave, and Index Coop.
In March 2021, Transak raised $650,000 in a seed round that was led by ConsenSys, The Loa, and other angel investors. The firm has since looked to expand support for leading DeFi networks, announcing support for Avalanche, Terra, and Moonriver among others in recent months.
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