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Electric vehicle (EV) maker Lordstown Motors (NASDAQ:RIDE) stock is trending on social media, and its shares are down 45% in early trading after the EV maker filed for Chapter 11 bankruptcy. The firm decided to take the step after its deal with Foxconn, the huge Taiwanese manufacturer, fell through.
RIDE has also sued Foxconn, also known as the Hon Hai Technology Group (OTCMKTS:HNHPF), for allegedly violating their contract.
RIDE Stock: More About Lordstown’s Moves
In conjunction with the bankruptcy filing, Lordstown is looking to sell its commercial electric pickup truck, the Endurance, and “related assets” to another commercial entity.
Lordstown’s lawsuit against Foxconn was filed today in a Delaware bankruptcy court. The company explained that it is alleging in the lawsuit that Foxconn committed “fraud and willful and consistent failure to live up to its commercial and financial commitments to” Lordstown.
CEO Edward Hightower had this to say in a statement:
“Despite our best efforts and earnest commitment to the partnership, Foxconn willfully and repeatedly failed to execute on [our] agreed-upon strategy, leaving us with Chapter 11 as the only viable option to maximize the value of Lordstown’s assets for the benefit of our stakeholders.”
Additional Information About Lordstown and Foxconn
Foxconn had invested over $50 million in Lordstown in exchange for 8.4% of RIDE stock. But Lordstown contends that Foxconn was supposed to buy more shares, while the Taiwanese firm is failing to help Lordstown develop additional EVs as it had promised.
For its part, Foxconn told Reuters that it was Lordstown that had failed to uphold the deal.
Foxconn’s American depository shares (ADRs), trading on the over-the-counter () markets under the HNHPF ticker, are up almost 1% this morning. HNHPF stock is up about 15% year-to-date (YTD). In comparison, RIDE stock is now down over 90% YTD and set to drop further.
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risk.
On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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The inaugural Wellness Tourism Summit has been confirmed for 2020, in response to the rapid growth seen in the wellness sector in Australia.
Research by the Global Wellness Institute (GWI) values the sector at $639 billion a year in global visitor spend and ranks Australia 14th globally in terms of percentage growth in wellness trips over the past two years.
To be held in Noosa on Queensland’s Sunshine Coast, the summit will uncover the latest research, consumer trends and best practice in wellness travel and tourism, with more than 20 wellness travel experts invited to speak on the main stage.
The Wellness Tourism Summit is being convened by GWI chair Katherine Droga, who said there are great benefits to businesses engaging in wellness tourism.
“Wellness travellers often tread lightly, respect the environment, value local community connections, and help mitigate over-tourism issues that many destinations now face,” she said.
“Wellness travellers also assist a destination with seasonality flows, stay longer than regular tourists and often spend more. This means there’s a huge opportunity for operators to tap into the diverse sectors of what wellness travel actually means to the consumer.”
The summit has already secured a stellar line-up of speakers, include Emlyn Brown, Accor’s Paris-based vice president of wellbeing, luxury and premium brands; Joanne Barber, sustainability transformer and wellness thought leader at Singapore-based We Affirm Co.; Sharon Kolka, general manager and wellness director at Gwinganna Lifestyle Retreat; Georgia Rickard, editor-at-large at Virgin Australia; and Janice Williams, publisher of Wellbeing Magazine.
The Wellness Tourism Summit will be held on March 19 and 20, 2020 at the Sofitel Noosa Pacific Resort.

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Walk of Fame cements Festival Centre star factor
Monday, 22 January 2018
The Adelaide Festival Centre redevelopment has reached an exciting milestone, with the Walk of Fame unveiled on the northern promenade.
Featuring more than 130 performers who have graced the stage of the Festival Theatre, the Walk of Fame is another landmark site within the Riverbank Precinct, connecting the Festival Centre to the Riverbank Bridge and Adelaide Oval, as well as the Convention Centre.
The Walk of Fame ‘starbursts’ will soon link to a mobile phone app that provides information on the featured performers, along with ‘what’s on’ at the Festival Centre and ticketing options.
Three performers have been chosen for each year since 1973 when the Centre opened, with new stars to be added to the Walk annually.
Adelaide Festival Centre CEO and Artistic Director Douglas Gautier said seeing so many well-known names together really brings home the number of personalities who have made Adelaide Festival Centre the great creative hub that it is.
“This is our ongoing opportunity to honour them publicly, and to celebrate and preserve our history with support from the South Australian public,” said Mr Gautier.
“In addition to performers, designers, composers, playwrights, and directors are also represented. The show must go on, and Adelaide Festival Centre’s Walk of Fame is a tribute to those who have helped us to do that for over forty years.”
The Festival Centre redevelopment includes the already complete new Festival Theatre foyers, the reopened Star Kitchen and Bar, Neon, and a new Elder Park café.
More than $1 billion is being invested in the Festival Plaza including more than $800 million in private investment for a new commercial and retail building as well as a redevelopment of the SkyCity Casino. The Walk of Fame is part of the Festival Plaza redevelopment which has created 2,500 jobs.
See the full list of Walk of Fame artists at www.adelaidefestivalcentre.com.au/media/5943/wof-list.pdf


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Longest ever 2.8km long ‘Sheshnaag’ train- Milestone for Indian Railways
Posted on July 6, 2020 by Ghoomophiro
Recently, Indian railways availed a new milestone with an introduction to 2.8km longest ever ‘sheshnaag’ train. It is a revolutionary step towards progress in our railways.
Indian railways made a new record with assembling of four trains together. It is a super long train that is beyond the imagination of many. ‘Sheshnag’ would hit the Indian rail tracks shortly. A report states that this 2.8km long train made under the supervision of IRCTC. Four empty BOXN rakes amalgamation led to the final structure of this lengthy train and contains the power of four electric locomotives set.
Glorifying this new record, Piyush Goyal, the Railway Minister of India made a recent tweet on the successful trial of this 2.8km long freight train. ‘Sheshnaag’ is a very big achievement for India as it comprises of huge carriage capacity. As a result, transport of good and heavy items can now get easier with amplified space to load in the vehicle. This can cut off the freight charges and the job of multiple trains would be possible with a single journey.
Further lauds came up from the Union Minister stating, “SheshNaag running on track: boosting freight transportation, railways has run 251 wagons with 4 trains combined, totaling to 2.8 km, between Nagpur and Korba.”
This incredible success initialized at the South East Central Railway Zone from India Railways. Rail tracks of Southern Zone have extensive lines and a long train is certainly a boon for such big networks. Indian Railways are of the vision to mobilize the goods and products with a fastened pace and within dedicated time limits. Freight trains provide immediate transfer of goods as this is the fastest mode of road transport and has an effective reach to even the remote locations.
Progress on passenger trains is still at a halt due to the travel control with effect to the recent pandemic threat within the country. Indian Railways are working to prevent the people’s movement to control the Corona spread.
After the success of ‘Sheshnaag’, Indian Railways is under the plan to run many freight rakes to save a large amount of time spent on product transportation. Besides, the quantity movement of goods, it also manages the congestion on Indian Railways. India has the most comprehensive network of rail routes in the world and the measures for its decongestion can be a huge success,
On June 30, Railway Ministry announced that they ran a 177-coach freight train known as ‘Super Anaconda’. Their division made a tweet, “Taking a big leap in reducing the transit time of freight trains, Bilaspur division of SECR broke yet another frontier by joining & running 3 loaded trains (more than 15000 tonnes) in ‘Anaconda’ formation through Bilaspur and Chakradharpur divisions.”
Indian Railways are vigorously driven towards boosting up of freight train services in all zones so that people at the remotest locations also do not face the scarcity of essential products!


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(NEXSTAR) — Popeyes is offering its popular chicken sandwich for free.
Now through Nov. 15, you can get the sandwich — original or spicy — at no cost if you spend $10 or more at participating U.S. Popeyes restaurants. Only one sandwich is allowed per order per day.
The promotion is running in honor of National Fried Chicken Sandwich Day (Nov. 9.), according to Brand Eating.
The deal, posted on Popeyes’ website, isn’t valid for third-party delivery orders.
You’ll need to order from the Popeyes website or app.
The Popeyes Chicken Sandwich, which features all-white meat chicken breast fillet marinated in a blend of Louisiana seasonings, has been in high demand since its introduction in August 2019.
The sandwich normally costs $3.99.
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Six months after the release of the Internet Explorer’s (IE 9) beta version, Microsoft eventually came up with the final release of the software last Monday. The new web browser is an open source and available for free download in 30 languages at Beautyoftheweb.com. It is specifically meant to be operated on Microsoft’s latest operating systems, Windows 7 and Vista, however the software will not run on Windows XP as the company wants to ‘Push the web forward’.
IE 9 now becomes the first browser bearing a ‘do not track’ tool which prevents an online user to keep its surfing habits under cover. It also includes a feature called ‘tracking protection lists’ to allow users to stop specific web tracking companies from monitoring what sites they visit.
Mozilla reportedly had already announced the introduction of anti tracking tool in its upcoming version of Firefox browser. That would then leave just Google’s Chrome and Apple as the only major browsers yet to declare their support.
The browser also uses HTML 5 which according to the sources will make it speedy to navigate and graphic processing chips that power visuals including videos and games. The company officials revealed that many companies including Facebook, Twitter and Yahoo have adapted their websites to IE 9.
With the fact that the beta version of the software was downloaded two million times in the first week itself, the officials are quite hopeful and feel that the new browser would further help in regaining the lost ground in the product domain.


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Video: New Guinness Irish Wheat Beer
Guinness, best known around the world for their iconic stout, have been busy expanding their lineup. Irish Wheat, a lighter, citrusy brew made with Guinness ale yeast and local Irish wheat, has just launched in time for spring sipping. While the stout beer the brewery is best known for has a worldwide legion of fans, the dark, creamy style is not everyone's favorite pint. This new recipe has been released to appeal to those thirsty for something more effervescent, as well as fans of the stout who might be enticed to change things up. Kiwi Callahan and Alcohol Professor news were on the scene for the product launch, at 287 Gallery. She spoke with Chris McClellan, cicerone and Guinness Brewery Ambassador, about the beer. She also chatted with a few beer journalists on the scene about their reaction to this new style for the brewery.
To learn how to pour a perfect pint of Guinness stout, please click here.


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Four Tech Tools That Can Help Your Small Business Grow(NewsUSA)
Fifty-four years ago, President John F. Kennedy signed into effect a proclamation that established a week to celebrate the contributions of small U.S. businesses. Every president since then has continued the tradition.
Next month kicks off National Small Business Week, which recognizes America’s entrepreneurs and small business owners. This year it runs from April 30 to May 6. More than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year.
To help celebrate the week, Marc Saltzman, business technology expert, has partnered with KillerApps.tv (Click here to view video.) and four brands that have the tech tools and services to help small businesses grow by boosting productivity in the office or on the go.
First up, mobility. BlackBerry is back with the BlackBerry KEYone, an award-winning smartphone that fuses the functionality and security you’d expect from a BlackBerry with the familiarity and versatility of Android 7.1 Nougat. This BlackBerry KEYone is made for the modern smartphone user, offering a reimagined Smart Keyboard with built-in fingerprint sensor, up to 26 hours of mixed-use battery life, and unique convenience and privacy features in what is being billed as the world’s most secure Android smartphone.
It also has 4.5-inch touch display to tap and swipe through more than a million apps at the Google Play store.
It goes on sale in May.
To help keep your data secure on the go, Kingston has a pair of encrypted USB flash-drive solutions. With the DataTraveler 2000, no one can see what’s stored on the drive without knowing the PIN that you type on the alphanumeric keypad. The hardware-based encryption resides on the USB 3.0 drive itself — not on the host computer. It’s water- and dust-proof and available in 16, 32 and 64 gigabytes. And then there’s the DataTraveler Vault Privacy drive, which you access via password instead of keypad. Get the password wrong ten times and it’ll reformat and wipe it clean, just in case you lose it. It’s available from 4GB and up.
Next up, regardless of the industry you’re in, you need a reliable multifunction printer to work faster, smarter, and more cost effectively. The Canon MAXIFY MB5420 Wireless All-In-One Printer empowers small businesses with a high-speed, high-quality, and cost-effective printer, scanner and copier. You’ll see crisp prints, such as client invoices and legal- size documents, along with features such as duplex scanning, built-in WiFi, support for a Canon app, and more. And the Canon MAXIFY MB5420 is backed by a U.S.-based customer service and support center.
Finally, in celebration of National Small Business Week, The UPS Store is saluting small business owners with its first national “Pitch Off” contest. Small business owners and startups can compete for a chance to win $10,000 by submitting a business pitch to theupsstore.com/pitchoff.
Capture a 90-second video describing your business or idea. Be sure to submit soon, as people will be able to view and vote for their favorite videos throughout the month of May. The grand prize winner will be announced June 6. Throughout the year, visit one of more than 4,500 locally owned and operated UPS Store locations, to find tools and resources to support your growing business.
(NewsUSA) – As the world has hit the metaphorical panic button during the rise of Coronavirus (Covid-19) cases worldwide, the daily reality for people and businesses is rapidly changing. Practically overnight, businesses have been forced out of the comfort zone of face-to-face contact, now having to heavily rely on digital platforms. Businesses, especially, are struggling with figuring out how to survive by using digital communication techniques. With the Centers for Disease Control and Prevention (CDC) and government officials emphasizing "social distancing and mandatory nonessential business closures," technology such as live video conferencing, chat boxes, and email will be the basis for millions of Americans for their jobs, schooling, and everyday communication. So, with so many players in the game, how can businesses continue to function successfully? Higher Images, a 20-year-old full-service digital marketing agency located in Pittsburgh, Pennsylvania, is helping organizations, businesses, and the community re-imagine what their lives and work-life will look like through web-based technology and mobile devices. President and CEO of Higher Images, Bryan Thornberg, says, "Rather than going into crisis mode, businesses should take this as an opportunity to expand their knowledge and reach. With many more people relying on digital communication, this is an ideal opportunity for businesses to break boundaries and try new techniques when connecting with clients."Thornberg and his team want to help people not just survive this crisis but to thrive during it and come out with an organization and business model stronger than ever. Thornberg has already been able to impact his clients by thinking outside the box and recommending the usage of technology such as live feeds and Facetime. For example, a hot tub distributor – a business that relies on their retail location for sales – took the recommendation of Thornberg and is now offering live video conferencing for customers to do live demonstrations of products and make purchases. Higher Images also urges businesses to utilize their existing websites to drive business: for example, adding a chat-box function to their website for customer communication, allowing organizations to respond to clients in real-time from the convenience of a cell phone or office computer from any location in the world. With higher internet traffic, this is also a key time for organizations to utilize search engine marketing, Google ads, and mobile in-app advertising technology such as Web tracker, which geo-fences homes to enhance brand visibility. Strategizing with a digital marketing company like Higher Images will provide businesses with the tools they need to succeed. Visit www.howcanmybusinesssurvivethecoronavirus.com for more information.
Some of the Biggest Misconceptions About Life Insurance
(NU)- So much forfancy cars, houses and jewelry. Eighty-one percent of Americans believe their “most valuable asset” is their family, according to a new survey by Edward Jones and the nonprofit consumer-education organization Life Happens. And one quarter of respondents in the national sampling of adults confessed that their biggest fear was saddling their nearest and dearest with unexpected financial burdens ifthey’re unable to work or die prematurely. Which begs the question: If we're so worried about protecting what we treasure most, why don’t more people have life insurance? Ask most experts, and they’ll tell you thatsuch policies can help provide crucial resources for anyone with loved ones to support. And yet the latest figures show only 41 percent of U.S. households have individual life insurance. “MostAmericans have little or no safeguards for their financial goals,” says Ken Cella, principal of the Client Strategies Group at the financialservicesfirm Edward Jones. “They may understand the value of having emergency funds to cover unexpected financial ex- penses in the short term, but they’re less protected for the long- term financial implications.” Faisa Stafford, president of Life Happens, puts it even more bluntly: “Emergency savings aren’t a long-term financial solu- tion, especially if a family’s prima- ry breadwinner were to die.” Much of the disconnect be- tween what we’ll call “the urge to protect” and the reality on the ground can be blamed on one or both of the following misconceptions: • It’s too expensive. Think of this asthe equivalent of the alligators-in-New-York-City-sewers myth. When Life Happens and LIMRA, a global life insurance research and consulting group, asked participantsin their 2017 Insurance Barometer Study how much a $250,000 term life policy for a healthy 30-year-old would cost, NerdWalletreports, the median estimate was $500 a year- more than three times the actual annual amount of $160. But let’ssay that would-be policy holder wanted even more protection for his dependents. Forbes magazine recently calculated that that same incorrect median estimate - $500 - would buy a healthy, non-smoking, 30-something male a 20-year term policy with a million-dollar death benefit. Some people spend more than that in a year on caffe lattes. Thatsaid, prices do vary based on factorslike age, health, amount of coverage, and whether you opt for term or permanent insurance. The former - the most affordable - covers a specific time frame (usu- ally 20 years orless), while the lat- ter stays in force for life (as long as you continue to pay the premi- ums). Online aids like Edward Jones’ complementary Life Insur- ance Needs calculator can help with factors to consider when de- termining how much life insurance may be appropriate for you. • The policy I have through work is good enough. And if you’re no longer employed there? Not only is group life insurance generally not portable, it typically only provides benefits equal to one or two times your annual salary. “Growing families usually need greater protection than that,” says Scott Thoma, an investment strategist at Edward Jones, “and they need coverage that’s not contingent on work status.” Know that life insurance doesn’t simply assign a monetary value to someone’s life. Which brings usto anotherrevealing finding ofthe Edward Jones-Life Happens "Protect What Matters" survey. Twenty-three percent of participants didn’t know it can even cover expenseslike college tuition for a surviving child. Edward Jones is a licensed insurance producer in all states and Washington, D.C., through Edward D. Jones & Co., L.P. and in California, New Mexico, and Massachusetts through Edward Jones Insurance Agency of California, L.L.C.; Edward Jones Insurance Agency of New Mexico, L.L.C.; and Edward Jones Insurance Agency of Massachusetts, L.L.C.


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Budget 2023 expectations: Lenders operating in the fintech space pitch for easing of taxes alongside special budgetary allocations for the sector to grow.
The framework will enable state-run banks to access the broad network of fintech companies' resources, lowering their own costs associated with obtaining loans and making ad hoc investments in expensive platforms or technology.
Investors into the country’s fintech space that has drawn heavyweights from Warren Buffett’s Berkshire Hathaway Inc. to Masayoshi Son’s SoftBank Group Corp., in the past few years, are getting more diligent as global financial conditions tighten. That has intensified the competition for capital, Pozhath said.
The main advantage of digital lending is easy access via mobile devices, and less paperwork and eligibility checks than in a traditional bank
Collaboration between banks and fintechs is the new normal in the banking space. Indeed, rather than competing with each other, it makes eminent sense for the two sides to combine their respective strengths and play the market together, say industry players
The Indian Wealth Management industry has seen a surge in the number of high net worth individuals and foresees strong economic growth. What led the industry to witness a massive change in customer demographics? In this video, we talk about the big emerging trends in the wealth management space and the stocks that are likely to gain on the back of these trends.
Our specially curated package of the most interesting articles to help you stay at the top of your game
BoB was the third-largest UPI remitter bank in India in August with 43.25 crore transactions conducted on the bank’s servers during the month
The merged entity would be known as Shriram Finance, with AUM of over Rs 1.5 lakh crore, and a distribution network of over 3,500 branches.
A 50 bps rate hike may seem hawkish, but it was required to control inflation, South Indian Bank MD & CEO Murali Ramakrishnan said
Although outsourcing of a permissible activity is an operational decision of the lender, it exposes them to various risks, the RBI said
Shaktikanta Das' comments come after the RBI said that loading of credit lines on to prepaid payment instruments (PPIs) is prohibited, a model adopted by many fintechs. RBI to come up with digital lending guidelines within a few weeks, he added.
According to people aware of the matter, the central bank has already held discussions with stakeholders on various issues.
A group of fintechs have smelled an opportunity in the financial services market that focus on children, which is largely under-penetrated. Many firms like Muvin and Pencilton have already launched products like pre-paid cards, and many have either raised funds or are planning to do so to tap the market.
Executive director Anup Bagchi said banks may soon start to lend to MSMEs based on their cashflows and not on their solvency, thanks to the rapid adoption of digital services.
RBI monetary policy | The bank will soon issue guidelines on digital lending after going through around 650 suggestions it had received, says RBI
The bank is looking to invest nearly Rs 1,000 crore in building and upgrading its digital technology in the present fiscal, as per management.
India ranked third in terms of the number of start-ups joining the unicorn club in 2021, next only to the US and China.
Kamath said startup founders should raise funds only when required and not just because it is available. Kamath and PB Fintech founder Yashish Dahiya were speaking at Razorpay’s annual event on the future of fintech IPOs.
The AA system will disrupt banking as we know it. But it is not all threat to banks, they have new opportunities too
Using their wide network and technology, finetch firms are helping villagers register on CoWin. Their banking correspondents are spreading awareness and also encouraging people to get vaccinated against coronavirus
The difficulty borrowers face in repaying their loans is forcing many fintech lending startups to restructure loans and show them as ‘standard assets’ as the year draws to a close.
Startups like FamPay and Slice are coming up with products tailored for students and young professionals. Can they get these consumers to stick around and expand their product suite as they grow up?
Credit cards gain popularity as startups work out innovative solutions with banks to expand the user base. Can new-age private banks corner a larger market share through these partnerships?
When you borrow, you’ve got to repay. But lenders cannot humiliate you and use aggressive methods for recovery


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READ the weekly CAPCORP Comment
ISSUE: April 20, 2015
Welcome to this
A change in trading rules for China, Canada holding steady on interest rates, the ever-increasing cost of playoff tickets (Go Sens Go!), and beer coming to a grocery store near you, all made headlines last week. These stories, our regular market updates, and a closing comment discussing comic books as an alternative investment, are presented in this edition of the Comment.


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BusinessWeek is crediting Facebook Chief Operating Officer, Sheryl Sandberg, for figuring out the company’s revenue model.
In the three years since Sandberg, 41, defected from Google and joined Facebook as its COO, she has helped to steer the company to previously unimaginable heights, devising an advertising platform that’s attracted the world’s largest brands and forging a remarkably trusting partnership with Mark Zuckerberg.
Zuckerberg looked down on the ignoble business of selling ads, according to the article. “I think early on we had almost this phobia that we shouldn’t focus too much on [ads], because that meant we were not putting our best foot forward on user products,” he says.
Sandberg helped clarify the situation for Zuckerberg and the Facebook executive team. Facebook could either charge members or charge advertisers. Everyone agreed that charging advertisers was the better option.
It appears that Sandberg and crew made the right decision. Facebook pulled in an estimated $2 billion in ad sales in 2010, and is on track to do twice that in 2011. Additionally, the social network now serves up nearly one-third of the display advertising that Internet users see in the U.S., and delivers twice as many ad impressions as its closest rival, Yahoo!.
To get a better sense of Sandberg’s intelligence and her point of view, take a look at this TED talk from last December:


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Denmark’s biggest bank, Danske Bank, recently made its stance on cryptocurrencies known. While the bank remains hesitant about cryptocurrencies and exercises caution, it has nevertheless stated that its clients shall not be prevented from using cryptocurrencies in conjunction with various cryptocurrency platforms.
The bank had revealed its stance yesterday, on the 17th of June 2021, around the time when it had published its own four-point notice, which described all the reasons detailing the need to exercise caution when it came to trading via digital assets.
Danske Bank will not help, but it will not stand in the way either
Although the bank wants users to be careful, it has also made it clear that it shall not do anything to stop its users from participating in the crypto craze. To that end, the bank shall not be offering any kind of crypto services itself. However, it will also not do anything to prevent the transactions based on cryptocurrency from occurring either.
Danske Bank representatives, therefore, stated that customers who choose to deposit funds that may stem from crypto-based investments should be treated in the exact same manner as deposits from any other investment type. Furthermore, the bank also sees absolutely no issue with its own credit cards being utilized for the purposes of cryptocurrency transactions, as long as customers do not use the cards to take part in any illicit or illegal activities such as money laundering or financing terrorist operations.
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‘Blockchain has potential, but we must be cautious, says Danske Bank
Danske Bank made it a point to acknowledge that cryptocurrencies have indeed skyrocketed in popularity and represent an important digital innovation as far as the world of financial services goes. With that being said, although the bank has a keen interest in cryptocurrencies and the technology behind the success exhibited by the crypto industry, even going so far as to praise blockchain technology and all of its latent potential, it nevertheless once again stated that caution should be exercised.
This is due to a number of reasons, chief among which is the lack of overall transparency. Cryptocurrencies are still being understood, and many such criminals often use crypto to carry out activities based on malicious intent. Also, the lack of consumer protection and regulation is a cause for concern, as hacks are common when it comes to cryptocurrency exchanges and protocols. Lastly, the volatile and unpredictable nature of crypto combined with its adverse impact on the ecosystem additionally contributes towards the bank’s decision to remain hesitant as far as the new digital asset class is concerned.


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NEWYou can now listen to Fox News articles!
A top fashion designer was arrested in her home country of Colombia and faces U.S. extradition after she allegedly smuggled crocodile handbags into the United States, according to Colombian prosecutors.
Nancy Gonzalez was arrested in her hometown of Cali, Colombia, and faces charges in the U.S. Southern District of Florida that could result in up to 25 years in prison and a $500,000 fine. The handbags can sell for up to $10,000 in designer stores in the United States and Europe.
Gonzalez made accessories that have been used by characters in the “Sex and the City” TV series, as well as other celebrities.
It is legal to sell some crocodile skins, although the required certificate can be costly and difficult to obtain.
According to U.S. and Colombian investigators, Gonzalez smuggled hundreds of handbags by paying airplane passengers to carry them in their personal luggage on flights to the United States. She told them to say that the bags were gifts for their relatives if they were questioned by customs agents.
U.S. Fish and Wildlife Service investigators said in 2019 that as many as 12 people, each carrying four handbags, boarded a single flight to the United States. The roundtrip plane tickets were all funded by Gonzalez.
Gonzalez started out by making belts before moving to handbag sales in 1998, when she was urged to build up a collection by a designer store executive. Her work debuted in the United States at luxury department store Bergdorf Goodman.
She has also seen her work featured in an exhibition at the Metropolitan Museum of Art in New York in 2008.
Britney Spears, Victoria Beckham and Salma Hayek are among the celebrities to have reportedly purchased Gonzalez’s handbags. It remains unclear whether these celebrities’ handbags were included in those allegedly smuggled into the United States.
The Associated Press contributed to this report.


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E-Dividends Registration: Investors Rush to Beat Deadline
By Dipo Olowookere
There is last-minute rush by shareholders in the Nigerian capital market to register for free for the electronic dividend (e-dividend) payment system introduced by the Securities and Exchange Commission (SEC).
The regulatory agency fixed December 31, 2017 as deadline for the free registration of the e-dividend payment system.
Last month, while addressing capital market correspondents, the suspended Director General of SEC, Mr Mounir Gwarzo, had lamented the low level of enrolment for the e-dividend exercise, noting that the level of compliance had dropped lately.
He had said in August 2017, a total of 50,819 investors registered for the e-dividend, while it increased to 59,204 in September, but dropped to 37,153 in October.
Mr Gwarzo had warned that SEC would not extend the December 31, 2017 deadline for the registration despite pleas by stakeholders for an extension.
According to him, SEC has been underwriting the cost of the e-dividend and from next year, investors will have to pay N150 for the exercise.
“We realised that there is a slow pace in terms of the implementation of the e-dividend as in the last three-four months, there has not been appreciable increase in terms of number of people registering.
“By December 31, 2017, any Nigerian that does not register for e-dividend will now have to pay N150 for registration.
“We have been pursuing this initiative since last year and SEC has been underwriting the cost. The moment you start extending, people will think they have 100 years to do it.
“I don’t think we should keep on extending it, we want to keep our word on that December 31. Whoever that does not register should be able to pay the amount stipulated,” Mr Gwarzo had told newsmen.
At the first Capital Market Committee (CMC) meeting for 2017, Mr Gwarzo had disclosed that about 2.2 million investors in the capital market registered for the e-dividend payment system.
But with three working days left before the deadline, there is a huge rush for registration.
From January 1, 2018, investors in the capital market will no longer be able to receive their dividends physically, but would be paid directly into their bank accounts.
Business Post gathered that investors, who were yet to register for the exercise, are in a last-minute rush to key into the system.
However, some of them complained that the process of registering for the exercise has been cumbersome.
According to the Nation, a cross section of capital market stakeholders at the weekend showed increased activities on the registration. At the various registration points – banks, registrars and stockbrokers, officials confirmed that there have been noticeable increases in request for e-dividend.
Stakeholders, who spoke with The Nation at the weekend called on SEC to extend the e-dividend registration citing hitches that had slowed down the process of registration. They noted that given the importance of the e-dividend system to the stock market, SEC should allow the e-dividend and dividend warrants to run concurrently while improving enlightenment campaign for the e-dividend.
Shareholders United Front (SUF) National Coordinator, Mr Gbenga Idowu, said SEC should extend the deadline for the e-dividend registration to enable retail shareholders that are having difficulties with the registration to resolve the issues.
He urged SEC to widen its publicity campaign to other nooks and crannies of the country.
Standard Shareholders Association of Nigeria National President, Mr Godwin Anono, said SEC should allow open-ended registration for the e-dividend as part of its market development mandate.
He alleged that registrars were frustrating shareholders with unnecessary additional requirements for the e-dividend even when shareholders have provided their Biometric Verification Number (BVN).
According to him, many registrars were stalling the e-dividend registration because they are the main beneficiaries of the lopsided system where dividends are either delayed or categorised as unclaimed.
Constance Shareholders Association of Nigeria National President, Mallam Shehu Mikhail, said SEC should compel the three main stakeholders in the registration process – the Central Securities Clearing System, registrars and stockbroking firms to harmonise their data base using the Know-Your-Customer (KYC) information from the stockbroking firms.
SEC last year announced last June 30, as deadline for issuing physical dividend warrants but later extended it to December 31 to shareholders by quoted companies to tackle unclaimed dividends and mitigate the risks associated with warrants.
In November 2015, SEC launched the E-Dividend Mandate Management System (E-DMMS) with the Central Bank of Nigeria, Nigerian Interbank Settlement System (NIBSS) and other stakeholders. The E-DMMS is an E-dividend payment portal that ensures the payment of dividends into a shareholder’s account.
It is believed that these steps taken by the Commission would help to reduce the increase of unclaimed dividend which stood at N117 billion as at December 31, 2016. Of this figure, N86 billion was in the custody of the paying companies while N13.7 billion was with the registrars. From November 2015, when the SEC kicked off the campaign on e-dividends, about N42.2 billion has been paid to investors from the backlog of unclaimed dividends.
Tinubu Promises Unified Exchange Rate, Lower Interest Rate
By Adedapo Adesanya
Nigeria’s new president, Mr Bola Ahmed Tinubu, has promised to unify Nigeria’s multiple exchange rate regimes in an effort to tackle the lingering forex crisis in the country.
The President made the disclosure during his inauguration on Monday, May 29, at Eagle Square in the nation’s capital, Abuja, after he took the oath of office earlier this morning.
Speaking on his agenda for the next four years, Mr Tinubu said his administration would seek to bring the different exchange rate regimes being operated across the country’s FX channels under a single regime.
It is, however, not clear which of the channels will be the official exchange rate, but many analysts, which Business Post spoke to, believe that the disparity in the rates at the official and parallel market will make the latter the obvious choice.
Mr Tinubu’s promise aligns with that of the International Monetary Fund (IMF) and the World Bank, which warned that for the country to fix its economy, it must increase the tax rates, especially the value-added tax (VAT), from 7.5 per cent to double digits, adopting a single exchange rate regime, remove subsidies on petrol, and raising the benchmark interest rate to curb inflation, which is now at 22.22 per cent.
The new President also promised to do all within his power to ensure that there is a reduction in the country’s high-interest rate.
The current benchmark interest rate of Nigeria is 18.5 per cent. It was raised from 18.0 per cent a few days ago after the Central Bank of Nigeria (CBN) held the 291st monetary policy committee (MPC) meeting in Abuja.
Experts warn that this will lead to an increase in lending rates and worsen the uncompetitiveness of the Nigerian economy.
Mr Tinubu noted that his administration would work towards a single-digit lending rate to allow for more investment into the country in order to boost the performance of Africa’s largest economy.
“Monetary policy needs a thorough housecleaning. The Central Bank must work towards a unified exchange rate. This will direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy.
Interest rates need to be reduced to increase investment and consumer purchasing in ways that sustain the economy at a higher level,” Mr Tinubu said.
Panic as Queues Return to Petrol Stations After President’s Announcement
By Dipo Olowookere
Nigerians may have to undergo another round of hardship as queues returned to petrol stations on Monday shortly after President Bola Tinubu announced the removal of fuel subsidy.
Mr Tinubu was sworn-in as the 16th President of Nigeria today after the tenure of Mr Muhammadu Buhari expired.
During his inaugural speech, the new leader of the country emphatically said the regime of the federal government paying to make Nigerians get the product at a cheaper price was gone.
This caused some consumers to rush to the filling stations to buy petrol at the current official price of N184 per litre.
Due to this panic buying, several queues were witnessed by Business Post at some of the petrol stations selling the product in Lagos.
It was observed that in a few places where petrol was being dispensed to customers, motorists formed long queues, while those buying in Jerry cans flooded fuel pumps.
As of the time of filing this report, some of the petrol stations earlier selling to customers have stopped dispensing the product.
Some of the consumers who spoke with this newspaper blamed Mr Tinubu for the situation, saying he was not supposed to announce the subsidy removal on his first day in office.
They claimed his statement was vague as it did not specify when the subsidy would be removed, giving oil marketers the opportunity to hoard the product to monitor the market sentiment.
During his campaign, Mr Tinubu said his administration would remove petrol subsidy to free up funds to stimulate the economy.
At his inauguration today, the President said, We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor.
“Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.”
MultiChoice Develops Integrated Payment Platform
By Adedapo Adesanya
MultiChoice Group, the owners of DStv, has announced a joint venture with Rapyd and General Catalyst to develop an integrated payment platform for Africa called Moment.
In a statement, the company said Moment would offer expanded payment infrastructure for businesses across Africa to help them collect and make payments easier, quicker, and more affordable in any manner that their buyers or suppliers prefer.
Moment, according to Multichoice, will also offer additional options for consumers to spend and save money more wisely.
“The aim is to transform the African payments landscape by making digital payments more accessible and reliable for domestic, cross-border, and global payments,” the statement said.
Speaking on this, Mr Calvo Mawela, MultiChoice Group CEO, expressed excitement about the venture with Rapyd and General Catalyst.
“It will address the need for an accessible and reliable payment platform for many small businesses and millions of consumers in Africa. Investing in this venture is a logical progression for us, as we already process payments every month from 22 million households across 50 countries in Africa. Moment fulfils our strategy to expand our ecosystem by investing in adjacent businesses that provide scalable services underpinned by technology,” he said.
Moment will consolidate the $3.5 billion in payments that the MultiChoice Group processes annually to expand options for subscribers and make payment processes efficient, as well as extend Africa’s most complete payment network to African and global businesses.
“We are thrilled to be able to partner with MultiChoice and our network partners to provide Africa’s most complete payment platform for businesses through Moment. Africa is one of the most exciting markets in the world – with tremendous opportunities to expand the use of digital payments, drive cash payments to real-time digital payments, and capitalise on the tremendous entrepreneurial drive of African businesses,” added Mr Arik Shtilman, CEO of Rapyd.
“Africa represents one of the most exciting investment opportunities for global investors. Over the next 20 years, most of the population growth of the world will be happening in Africa, along with increasing urbanisation. African consumers and businesses are not only moving business online but will be the labour force for the world across the next 20 years,” added Mr Adam Valkin, Managing Director at General Catalyst Partners.
The long-term plan is to provide the infrastructure for pan-African payments for the 44 million small businesses operating on the continent. It is also to turn the 90 per cent of retail transactions that are currently taking place in cash into digital payments.
Moment also aims to make digital transactions more accessible to the 350 million consumers that are underbanked or not banked at all.
Moment’s long-term service offering includes providing payments across 40+ countries in Africa through 200+ locally preferred payment methods to collect, disburse and manage risk; driving adoption of PayShap, TCIB, NQR, and other real-time payment methods across all markets; and facilitating global-Africa trade for importers and exporters with virtual accounts in 40+ currencies and local payments in 130+ countries.
Others include payment tools, deep inventory to sell, and financial services for micro-entrepreneurs and SMEs and offering consumers payments, savings, and rewards.
“Moment gives MultiChoice another opportunity to make a meaningful contribution to the economic development of the African continent. It will play a key role in accelerating cash-to-digital payments for all consumers and businesses and making the continent more investment ready for global players by connecting payments from Africa to the world,” Mr Mawela added.
Latest News on Business Post
- JUST IN: DAAR Communications Chairman Raymond Dokpesi Dies May 29, 2023
- Full Text of President Tinubu’s Inaugural Speech May 29, 2023
- Tinubu Promises Unified Exchange Rate, Lower Interest Rate May 29, 2023
- Panic as Queues Return to Petrol Stations After President’s Announcement May 29, 2023
- MultiChoice Develops Integrated Payment Platform May 29, 2023
- IFC Invests $13m to Support Ecotourism, Conservation in Sub-Saharan Africa May 29, 2023
- BREAKING: Tinubu Removes Fuel Subsidy May 29, 2023
- Russia’s ‘Return to Africa’ Sparks Policy Controversy May 29, 2023
- Mr Tinubu, You Have Inherited a Divided Nation… May 29, 2023
- Group Begs EFCC to Probe Sirika Over N15.9bn Nigeria Air Project May 29, 2023


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Apparently, one Bradley Crooks, developer at Headstrong Games, revealed to Gamekyo a few details about the upcoming Sega game on every Wii gamers' mind (if it isn't on your brain, then you should get your head checked) during an event at Leipzig. The list is fairly long, so head past the break,...
To say that Guitar Hero: World Tour has a lot of content is now an understatement. The game is so ridiculously full of goodies, fans are likely going to explogasm when they watch the video above. It goes into incredible detail, showing off the music creation fun you can have in Activision's latest...
Posted on Jul 23rd 2014 7:30PM
Posted on Jul 23rd 2014 9:00AM
Posted on Jul 22nd 2014 1:00PM


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The number of Italians connecting to the internet from a PC or a mobile device climbed to an average of 33.4 million a day in September, up over 1 million from the previous month, according to the latest internet audience figures released by Audiweb. online time on smartphones
The result is equivalent to over 69 percent of Italians aged 2 and over, with the majority of users aged 18 plus (29.8 million) connecting via a smartphone in September (67.1% of the total), followed by 17.2 percent who connected via a PC and 9.8 percent who used a tablet. In fact, Italy’s 18 to 74 year-olds spent over 87 percent of their online time on smartphones.
Online time on smartphones
Total daily internet time averaged 4.44 hours in September, with 84.7 percent of people aged 25-34 using the internet on an average day compared to 80.2 percent of those aged 45-54 and 26.6 percent of those aged over 64.
In September, 57.7% of men were online , 53.9% of women and as far as the age groups most involved are concerned, in this month around 80% of them were online at least once on the average day. of adults between 25 and 54 years .


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Mangalore, October 1: The Bhima Jewellers new showroom near SCS Hospital in Balmatta was inaugurated by Dr N Vinaya Hegde, chairman, NITTE Group of Institutions, at Mangalore on Wednesday, October 1st.
Dr N Vinaya Hegde expressed his happiness on the showroom being inaugurated in Mangalore. Speaking on the occassion N Vinaya Hegde, said, “I thank God and Bhima Jewellers for giving me this opportunity to inaugurate the new showroom. I wish Bhima Jewellers will grow to greater hights and become helpful to Mangloreans.”
CEO of Bhima Jeweller’s Ms Rashmi Vinod, in her speech, said, “I thank all those who came here for the inaugural ceremony and we expect the support of Mangaloreans.”
Dr Ashajyothi Rai of Aasare Charitable Trust (R) said, “Gold is not only an ornament but also can be an investment. I feel happy that Bhima Jewellers has come to Mangalore and wish a successful run in the coming days.”
The first sale of gold was made to Dr Ashajyothi Rai of Aasare Charitable Trust (R) while the first sale of diamond was made to Vaishnavi V Kamath, partner, Mangala Cashew Industries.
Bhima Jeweller’s has arrived to Mangalore with its 89 years of heritage and a promise of purity.
Bhima Bhattar was born in 1904 in Udupi and in 1925 he founded Bhima Jewellery in Alleppey, Kerala. Today, 89 years later, Bhima has grown to be one of the most respected jewellers of South India and have successfully shaped themselves into a brand that stands for purity and trust.
Son of Bhima Bhattar B Krishnan, expanded Bhima to the garden city Bangalore in 1999 at Dickenson Road. Over time, the brand soon opened five more showrooms across the city with the latest one being at Phoenix Marketcity, Whitefield.
On this occasion, B Krishnan, managing partner of Bhima Jewellers, Vishnu Sharan K Bhatt, partner, Bhima Jewellers, chief manager Srinivasan and production manager Ramesh were also present.


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Federated Farmers aren’t mucking about with their response to the USA’s reintroduction of export subsidies for dairy products.
In a media release headlined US dairy subsidies a potential catostrophe they start by inviting President Obama to New Zealand to explain why his administration has decided to subsidise 92,000 tonnes of American dairy products destined for international markets.
“I cannot express the anger I feel about today’s decision,” says Philip York, Federated Farmers economics and commerce spokesperson.
“The precedent this sets is actually worse than the European Union’s (EU) decision in January to go down the same path.
“Federated Farmers had respected American restraint from not retaliating against the EU. That has all been thrown away on the compost heap that is the US dairy lobby.
“The US dairy lobby is more interested in protecting subsidies than in exporting on free market principles. The fact President Obama caved into their demands is a genuine shock. I honestly thought the age of pork barrel politics had passed but I’m sadly mistaken.
“What’s worse is that this comes at a time when international prices for dairy commodities had started to stabilise.
“Now, from left field, comes this ludicrous decision which takes the world to the edge of trade anarchy.
“The World Trade Organisation needs to get to Washington and Brussels urgently to discuss this with the EU and the Obama administration. I know Don Nicolson, the President of Federated Farmers, will be raising this at next month’s meeting of the Cairns Group.
“This could easily set off a domino effect as smaller economies rush to follow the irresponsible ‘example’ being set by the EU and the United States. Tariffs and tit-for-tat trade barriers could depress international prices and trade volumes before spreading to other trade categories.
“The world is back to five minutes to midnight for an all out trade war and President Obama needs to get his hand off the trigger,” Mr York concluded.
That’s a very direct message.
I don’t think the chances of Obama hearing it are very high and the chances of him heeding it are even lower but no-one can accuse Feds of taking a half-hearted approach to their fight for free trade.
Hat Tip: SOLO


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UNSW Australia has launched a global drive to recruit 600 of the??best researchers and PhD scholars over the next four years. That some households could afford to install solar thermal without the need for support is no justification for denying other households the chance to do the same, and cutting what is clearly a vastly inexpensive support mechanism simply doesn&rsquo. To help us in your search for a used car please tell us where you are by using the postcode box highlighted above.
Filed Under: Uncategorized Stockings July 7, 2015 by admin This British adult model sure looks great in everything. us offers users the ability to track legislation, look up members of Congress, and review members' voting records. Filed Under: Uncategorized Monica May 16, 2015 by admin Click Here To Watch LBFM Pride Monica is a hot teen and an amateur.
??AP report here:An al Qaida linked group posted a Web video Saturday purporting to show the bodies of two American soldiers being dragged behind a truck, then set on fire in apparent retaliation for the rape slaying of a young Iraqi woman by U. A shop for a more personal and unforgettable romantic night in, or a very exciting and very naughty night out. ??Top tech firms like Google and Apple are expected to be developing VR units of their own, which are projected to increase 2017's unit sales more than double that of 2016's to 38 million.


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Axios picasso painting, face paint, makeup.
That’s the gist of what Axios has learned from its research, and the findings may have been enough to convince the cosmetics giant to start making its own products.
Axios founder and CEO Mike Novogratz said he was surprised to learn of the launch, but was pleased to see the beauty company start making cosmetic products in the city.
“The beauty industry is in an amazing place right now, so it’s just exciting that we’re able to be in the New York area,” Novogbatz said.
The beauty giant announced plans in July for a beauty and wellness launch in New Jersey, and that plan has taken shape in the form of a line of makeup and skin care products, which it calls “Cosmo.”
The Cosmo line includes products like mask masks, cleansers, and moisturizers, all designed to work together to help improve skin health and appearance.
This is the first time the beauty giant is making cosmetic items in New Yorkers’ own neighborhood, Novogbetz said, though he said the company plans to expand its New York store by opening a second store in Brooklyn by the end of the year.
According to the company, Cosmo is the largest-selling makeup line in the United States, with $4.5 billion in revenue.
Cosmo is one of a number of brands that Novogbeatz has launched or expanded in recent years.
His latest venture is The Beauty Lab, which he founded with the goal of bringing a “healthy, empowered and creative” brand to the streets of New York.
The company has been selling a range of products from facial masks to lip glosses.
Novogbeatts company is already expanding its product lines in Los Angeles, New York, and San Francisco.
He said Cosmo will soon launch in Seattle, Washington, and Boston.
When it comes to products, Novagbetz is looking to add to the beauty lineup of products that are available to purchase online.
A Cosmo mask is a “one-size-fits-all mask,” he said.
“We’re going to be adding different masks that are designed for specific skin types and specific skin needs.
It’s like a beauty encyclopedia, so we’re going into every product’s description to find the best products for each skin type and skin need.”
Axes Cosmo facial masks, a $49.99 face mask, are the brand’s most popular.
It’s possible to get the masks online at Cosmo, but Novoghitz said the process is not seamless, and some people have reported that it takes an hour or two to get a mask in.
If you want to purchase a product, you have to be a registered user on the Cosmo site and go to the CosmocoShop.com website, where you can register and purchase a mask, and then enter your email and password to get your mask in your shopping cart.
For $49, Noviogbathes Cosmo masks cost $22.50 for one full size, $22 for two full sizes, and $34.99 for four full sizes.
Once the masks are in your cart, you can order them by phone, or by mail.
There are three options for ordering masks online: the standard size mask is $24.99, the size that will fit most people, which is $29.99; the medium size mask, $42.99 and the small size, which can fit some people, but costs more; and the large size, where the cost is $69.99.
You can also choose to pay with debit cards and credit cards.
On the Cosmos website, there are more than 400 products for sale.
There are over 150 products that can be purchased with cash or debit cards, and Novogbuy.com has a full line of Cosmo products available for purchase, including makeup, lip balm, and face brushes.
After the Cosms first New York launch, Novgbetz plans to continue expanding into the country.
With the Cosmopolitan launch, the beauty world is in the midst of a major shift in beauty.
I am really excited to be part of this exciting new era in beauty, Novogebts CEO said in a statement.
At Cosmo we believe in bringing a truly innovative, one-of-a-kind experience to our customers and we have created a line that will appeal to every skin type, skin concern and skin preference.
My hope is that this line will continue to be one of the most popular brands in the industry, and I know that this is just the beginning of our growth.
Read more from Axios here:


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Considering self-publishing a book? CNET's David Carnoy discusses the ins and outs of what it's all about.
Samsung's Central Station provides a means of connecting your laptop to your monitor without the use of wires.
Reaching a standardization milestone called "last call," the World Wide Web Consortium formally is seeking comment on a major overhaul of the Web standard.
Sharp will release a speedy Android-powered 3D phone in Japan next week, boasting Aquos TV technology, 8-megapixel cameras and a 4.2-inch touchscreen.
The World Wide Web Consortium's fresh blood includes China Unicom, Netflix, LG Electronics, Facebook, and Zynga.
Jaguar will build the sensational C-X75 concept car for real, but it'll swap the gas turbines for a future-spec F1 engine with help from the Williams F1 team.
Over the weekend Jaguar confirmed that it will transform its stunning C-X75 concept car into production reality. The shape will supposedly stay true to form, but sadly the show car's micro-turbines won't make the cut.
Jaguar promises to build a production version of the C-X75 concept originally shown at the 2010 Paris auto show.
World Wide Web Consortium plans to develop standards to enable direct peer-to-peer communications between browsers, without the need to go through centralized servers.
CEOs from AT&T, T-Mobile USA, Sprint Nextel, and Cellular South will head to Washington, D.C., next week to argue for and against AT&T's $39 billion bid to buy T-Mobile USA.


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Another week of trunk shows is on tap for the Triangle. Here’s the scoop:
• Vermillion in Raleigh’s North Hills will have a variety of vintage jewels, including Chanel pieces, from the collection of famed jewelry collector Carole Tanenbaum in store for a trunk show from 10 a.m.-6 p.m. on Thursday. For details, call 919-787-9780.
• Spring bridal and evening gowns from Liancarlo come to Alexia’s Bridal Boutique in Raleigh for a trunk show Thursday through Saturday. To make an appointment, call 919-829-5900 or email email@example.com.
• Fall and winter styles from Worth New York will be discounted by 40 percent during a trunk show Saturday through Monday at 1515 Sunrise Ave., Raleigh. To make an appointment, call Peggy Fain (919-605-1062) or Ann Proctor (919-417-6455).
Cary’s Shop Hop
More than 20 local businesses will stay open late Thursday for the Downtown Cary Shop Hop. From 5-8 p.m., shops such as Gather, the Purple Polka Dot and Cute Buttons Gift and Paper Boutique will offer refreshments, discounts and more. Shoppers can pick up punch cards at participating merchants to earn a chance to win prizes. For more info, visit facebook.com/downtowncaryshophop.
C. Wonder opens
Clothing and gift boutique C. Wonder opens its first North Carolina store this week at The Streets at Southpoint in Durham. The boutique carries clothing, jewelry and other accessories, as well as home decor and gift items. During the grand opening celebration on Friday and Saturday, customers will enjoy refreshments, gifts with purchase, discounts on monogramming and a chance to win prizes. The store is on the lower level between Williams Sonoma and Belk. For info, call 919-293-1751.
Redress Holiday Market
Redress Raleigh kicks off the holiday shopping season with their Holiday Market on Saturday at the Durham Armory (220 Foster St.). From 2-9 p.m., the market will feature fashion shows and shopping booths with eco-conscious clothing, accessories and more made by local designers, such as Symbology, Zass Design, Seven Sages and others. Tickets start at $16 for all-day passes, and $1 from each pass will go to InterAct of Wake County, a nonprofit providing assistance to victims of domestic violence. To buy tickets, visit redressraleigh.com.
Dress for Success Sale
Dress for Success hosts its annual fall excess inventory sale on Saturday 10 a.m.-5 p.m. at Northgate Mall in Durham. During the event, shoppers can score big deals on new and gently used professional wear and accessories for women, including a collection of Coach handbags donated for the event. Admission is free, but shoppers can buy an early-bird pass for $20 that grants them access at 9 a.m. All proceeds benefit Dress for Success’ efforts to provide clothing and mentoring for women in need who are on the job search. For details, email firstname.lastname@example.org.
Durham’s Vert and Vogue boutique celebrates its fifth anniversary this week by donating 5 percent of all sales from Saturday through Friday, Nov. 22, to SEEDS, a community gardening organization that promotes food security through various gardening programs. Vert and Vogue is at 905 W. Main St., Durham, 919-251-8537.


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A new iPhone scam uses social engineering to rake in millions from users using dating apps such as Bumble and Tinder, as well as a system which helps developers build new iOS apps.
According to Sophos, the scammers have acquired the ability to take over victim iPhones remotely in a version of the CryptoRom attack where they leverage “Enterprise Signature”. This is a system that helps organisations to pretest new iPhone applications with selected users before they are submitted to the Apple App Store for review and approval.
The scam was dubbed “CryptoRom” by cyber security firm Sophos, whose researchers uncovered a $1.4m bitcoin wallet to which the group of attackers were funnelling the money of their victims.
“With the functionality of the Enterprise Signature system, attackers can target larger groups of iPhone users with their fake crypto-trading apps and gain remote management control over their devices,” Sophos said in a statement.
Sophos said the scam started in Asia but has broadened its victim base to the US and Europe using Bumble and Tinder.
“This means the attackers could potentially do more than just steal cryptocurrency investments from victims. They could also, for instance, collect personal data, add and remove accounts, and install and manage apps for other malicious purposes.”
The company’s senior threat researcher, Jagadeesh Chandraiah, said the threat relies heavily on social engineering at almost every stage.
“First, the attackers post…


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Imagine a business model that enabled your firm to compel customers to purchase things from you that they wouldn’t otherwise buy. To sellers it probably sounds like a dream. To buyers it sounds like a bad joke. But it’s neither a dream nor a joke. It’s called bundling.
Many people purchase a satellite or cable TV subscription for a particular piece of content – maybe live Premier League football matches or episodes of Game of Thrones – and watch none, or little, of the other stuff available as part of their subscription.
Even the most voracious devourers of entertainment will only ever consume a small fraction of what they have access to as part of their packages. There are, after all, only so many hours in a day, even for telly addicts.
Consumers would be better off financially if they only paid for what they actually consumed. But under this arrangement the media companies would be worse off. So instead of offering pay-as-you-watch deals, they bundle.
Sky in the UK and the big cable companies in the US have extracted large profits from this selling practice in recent decades. They’ve used their exclusive rights to some forms of sports broadcasting or other premium entertainment content to effectively compel customers to buy bigger packages.
But new technology in the form of internet streaming subscription channels now presents a commercial challenge to these bundlers. In the US, financial analysts talk of “cord cutting”, to describe Americans ditching their expensive cable connections in favour of cheaper streaming services.
The epic deal last week by Disney to buy most of Rupert Murdoch’s Fox movie and TV assets and also his share in the streaming service Hulu was heavily motivated by the rise of Netflix and Amazon Prime.
Disney is preparing to invest in its own streaming platform, leveraging its vast catalogue of exclusive films, TV shows and sports rights.
Yet streaming has not killed bundling, but rather re-invented it in a new form. The streaming companies, of course, have their own bundles. If you want access to their own burgeoning exclusive content, you have to buy the whole package. These are cheaper than satellite or cable bundles, though the cost soon adds up if you have more than one.
So what should we make of media bundling from an economic perspective? Bundling is essentially a way of firms to extract the “consumer surplus”, a reference to the difference between the maximum customers would be willing to pay for something and what they would be asked to pay in conditions of perfect competition.
Of course, as this implies, consumer surplus extraction is only possible because competition is imperfect and sellers have some degree of market power. So should we consumers be outraged at the existence of bundling? Should we be demanding regulatory intervention to prevent it happening?
It depends. High profits for media companies from bundling might be seen as socially useful if the surpluses are re-invested in quality cultural or educational content that might not otherwise be made. This kind of welcome cross-subsidy was common in the era when print newspapers (a form of content bundling) had a virtual monopoly on this distribution of written current affairs content.
Plenty of superlative, but expensive, foreign and specialist reporting was sustained in that way in the pre-interent era. But if the excess profits from bundling only end up lining shareholders’ pockets this becomes a transfer that simply harms consumers.
And if the practice of bundling serves to stifle competition, blocking potentially innovative new firms from coming into the market, that’s even more damaging to consumer welfare in the long term.
This represents a huge challenge for market regulators in this revolutionary era of instant digital content delivery and the penetration of online giants such as Amazon into a stunning range of new commercial sectors.
The competition authorities in the US and Europe took on the software leviathan Microsoft in the late 1990s and 2000s over its bundling practices. Are they prepared to do the same with the Silicon Valley giants and entertainment conglomerates of today? And should they?
A great deal of the coverage of the Disney-Fox takeover has been from the perspective of the companies themselves and their powerful leaders. Is this the beginning of the end of the Murdoch empire? How long will Disney’s veteran boss Bob Iger stay in his post? Reasonable questions. But a little more consideration to the economic interests of the little people – their customers – would also be in order.
This article appeared in The Independent on 17/12/17


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Invixium signs distribution agreement for South Africa
Invixium is tapping into the South African market, following a distribution partnership signed with Pyro-Tech Security Suppliers, a supplier of security, surveillance and protection equipment in Johannesburg, announced the two companies in a joint press release. Under the partnership, Pyro-Tech will deliver Invixium’s biometric solutions to resellers across the country.
“South Africa is a veteran and an extremely mature market for biometric solutions and is ready for a fresh, modern, disruptive brand,” said Shiraz Kapadia, CEO and president at Invixium. “Pyro-Tech’s technical knowledge and market experience as a premium distributor of security and surveillance equipment will provide traditional biometric resellers new opportunities by selling Invixium’s modern and rugged biometric solutions.”
Invixium develops IP-enabled biometric solutions that ensure secure access control and convenient time and attendance tracking of employees. The technology is ideal for outdoor use in extreme environments, and a great addition to the African security market, due to the integration of elements such as multispectral imaging fingerprint sensors from Lumidigm on the IXM TITAN, SENSE 2 and TOUCH 2 products, along with highly durable IP65 and IK08 protected exterior, according to the announcement.
“Pyro-Tech is excited to offer Invixium’s innovative range of biometric solutions in South Africa,” said Pyro-Tech Managing Director Joe Ferreira. “Invixium solutions are well suited to our market; a coupling of high-end design and rugged construction while still offering incredible value. We believe that our existing customers will benefit greatly from these award-winning products and look forward to introducing them to our clients throughout the region.”
The Invixium brand will be officially launched during a high-level event in Johannesburg on September 18, 2019.
Earlier this year, the Canadian biometrics solutions manufacturer announced it was to receive up to $1 million in investment from state tech investment agency Connecticut Innovations (CI) to expand its operations in the US, followed by news in July that it received $3.5M in debt financing from CIBC Innovation Banking to support growth.


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And - whisper it - could Intel be seeing the green shoots of an economic recovery?
Intel this year will focus on what it does best: crank out chips and expand factory capacity.
The chipmaker will produce new families of chips for desktops, notebooks and mobile phones this year, chief executive Craig Barrett said in a speech at this week's Intel Developer Forum in San Jose.
Additionally, the company will continue to invest in fabrication plants, the billion-dollar factories that pump out millions of chips. On Tuesday, Intel announced it will convert Fab 12 in Chandler, Arizona, from processing wafers with 200-millimeter diametres to a facility that can process 300-millimetre wafers.
The conversion - which will give Intel five 300mm fabs when completed in 2005 - will cost about $2bn but will pay dividends in higher productivity. Chips produced on these larger wafers cost about 30 per cent less to make and more than twice as many can be produced at once.
"Our future is built around new technology and having the (manufacturing) volume in place to serve the growth that the industry will demand," Barrett said at a press conference before his speech. "We always try to position ourselves with capacity to grow faster than the industry."
Barrett also indicated that business conditions appear to be picking up slightly, at least for Intel's computing divisions. Some research firms are anticipating that IT spending may grow five per cent to seven per cent this year, in part because many of the PCs bought during the 1998-99 sales bulge will need updating. Intel itself will buy 35,000 new desktops while Lucent, the troubled developer of telecommunications gear, has said it will refresh its corporate desktops.
"We are seeing a variety of companies choosing to upgrade," Barrett said. Sales of communications chips, however, are likely to remain lacklustre.
"The over-buildout, the over-investment in wireless is still working itself out. We hope the second half of 2003 (for communications) will be better than the first half," he said. "Computing will probably recover faster than communications."
Consumer demand for wireless and broadband products could compensate for weak corporate sales. DSL (digital subscriber line) and home fibre optics are on the rise in Japan, Barrett said. In a recent business trip to Tokyo, he noted how Yahoo! representatives were giving away DSL modems to shoppers along the street to encourage them to sign up for service. Yahoo! now has two million DSL customers in the country, he said.
Barrett added that Intel's product lines will undergo changes. Chips for desktops, such as Intel's Prescott, and notebooks, such as Banias, will continue to diverge in their capabilities because of the different demands of their buyers.
"Mobile (chips) will increasingly have more wireless and power-saving technology. (A) desktop will have more power built into it," he said. "You will see them probably distance themselves a bit more."
Chips that integrate several functions - such as the Manitoba chip that contains a processor, a digital signal processor and flash memory - will become more prevalent. An integrated chip for handhelds, code-named Bulverde, is expected next year, sources said. Integration makes the manufacturing process more efficient.
As an example, Barrett said, "We're seeing... optical technology get coupled with silicon technology." Optical chips pass data at faster rates than silicon chips and use less energy, but are more costly to build.


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Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on the previous year’s 88 million, according to latest figures released by the mall on Tuesday.
Figures also showed a staggering 20 million people visited the mall in the first two months of this year alone, with 2024 set to be another record year.
“These numbers reflect Dubai Mall’s impressive status and mirrors the forward-thinking leadership and strong economy of Dubai. Our mall embodies the city’s vibrant spirit and dedication to excellence, turning the leadership’s vision into a reality. Being an integral part of Dubai’s economic fabric, we play a crucial role in the city’s success and innovation,” said Emaar founder Mohamed Alabbar.
The new figures also show how the mall has become a global draw, attracting visitors from every corner of the world.
“This wide range of nationalities not only underscored the mall’s worldwide charm but also reflected the cosmopolitan culture of Dubai itself,” Alabbar added.
The mall’s events and promotions in 2023 and the beginning of 2024 were a key driver of its foot traffic, as well as essential festive occasions and international celebrations. Major events like the Dubai Shopping Festival, the Dubai Food Festival and the acclaimed 3 Day Super Sale further demonstrated the mall’s ability to draw and engage massive crowds.The mall’s digital footprint expanded significantly, with an Instagram following currently at 1.3 million.
The mall’s customer satisfaction averaged 4.6, reflecting positive feedback from thousands of customers.


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We Help Companies Find New Sales Opportunities
Pizza Hut Delivery is to invest £40m in 200 new takeaway stores across the UK and Ireland by 2020, with the creation of at least 3,000 jobs.
Pizza Hut is to create 1,500 apprenticeships at its restaurant chain over the next five years, in partnership with Manchester Metropolitan University.
Pizza Hut is planning to expand its chain of 280 restaurants with up to five new sites a year, and Rutland Partners could soon seek a buyer for the business.
Pizza Hut is to invest £1.7m in the expansion of its 31 restaurants in Scotland.
Pizza Hut is investing £2m at its restaurants in Greater Manchester this year, including a new style of diner and 100 jobs.
Pizza Hut UK is to invest £60m in improvements to 80 of its 330 restaurants over the next year.
Pizza Hut is planning to expand its chain of 318 delivery outlets to 700 by 2020, with the creation of 5,000 jobs.
Pizza Hut is planning to expand its chain of 300 pizza delivery outlets with between 30 and 50 new sites a year.
Pizza Hut is planning to expand its new pizza delivery operation across the country, and is seeking suitable units of up to 1,000 sq ft in suburban shopping centres.
Pizza Hut is planning to spend £24m opening 25 new restaurants and refurbishing a further 50 over the next two years, and 30 high street outlets will be closed.
Pizza Hut is to invest £100m in its chain of 700 restaurants over the next six years, including new outlets and a change of name to Pasta Hut.
Pizza Hut is planning to open 35 new outlets a year on retail and leisure parks, having appointed Colliers CRE to advise on its expansion programme.
Pizza Hut is to create about 270 jobs in the North West by opening restaurants in Blackburn, Blackpool, Bolton, Lancaster, Leyland and Manchester.
Pizza Hut is to expand its chain of restaurants in Yorkshire by the end of the year, with the creation of 150 jobs in York, Hull and Barnsley.
Pizza Hut is looking to open a further 75 stores across the country this year.
Pizza Hut is planning to open 75 new outlets this year, with the creation of 3,500 jobs.
Pizza Hut is planning to open a further 250 restaurants over the next five years, and is seeking suitable locations at cinemas, shopping centres and railway stations.
Pizza Hut has announced plans to create 3,000 jobs across the country next year by opening 75 new restaurants and delivery outlets.
Pizza Hut is planning to expand its chain of restaurants from 424 to 809 by 2010.
Pizza Hut is to open two more delivery units in Leeds with the creation of 120 jobs.


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