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If online deals and doorbusters for weeks before Thanksgiving have taken some of the frenzy away from Black Friday, it didn’t keep Lehigh Valley shoppers from turning out in droves this year.
Traffic crawled into the Lehigh Valley Mall in Whitehall Township and the only parking spots available Friday afternoon were at the distant edges of the lot.
Inside, however, many shoppers were taking a more laid-back approach, arriving later and taking the time to spend time with friends and family visiting for the holidays.
Victor Morales of Bethlehem was empty-handed as he sat in one of the recliners provided for weary shoppers outside Macy’s.
“There are better deals online,” he said, noting that he’d ordered a pair of sneakers from the web at a sizable discount earlier this week.
For Morales and his wife, Gloria, who were shopping with friends visiting from New Jersey, Black Friday shopping is a tradition they’ve observed since they got married 20 years ago.
“We do it just to get out of the house,” he said.
Increasingly, and perhaps earlier than ever this year, great deals can be found before Black Friday, industry analysts said.
What used to be considered the official start of the holiday shopping season has been watered down because of earlier “Black Friday” deals. Supply chain issues also have created a sense of urgency to buy a product now and not wait.
“It used to be the first day to get the item on sale was actually on Black Friday,” said Marshal Cohen, chief industry adviser of The NPD Group Inc., a market research company that studies consumer behavior and the retail industry. “And then it was one day early on Thanksgiving, and then it became a few days early, and then a month early. This year, it has been the earliest ever.”
Some retailers, such as Target and Amazon, began offering “Black Friday” deals in October.
The trend of retailers pushing such sales earlier has changed the complexion of what once was the biggest — and certainly the most anticipated — shopping day of the year.
For Marina Ibraham and her aunt Maha Gabriel, both of Lopatcong Township, New Jersey, this year marked a return to tradition after COVID-19 put a chill on in-person shopping in 2020.
But many retailers, such as Target, have abandoned efforts to beckon buyers as early as possible, remaining closed all day on Thanksgiving.
“We used to go out on Thanksgiving night,” Ibraham said. “Honestly, I think it’s better. The employees need to have a day off and enjoy the holiday too.”
Diana Schantz of Emmaus said she used to venture out after Thanksgiving dinner to hit the stores at midnight on Black Friday, now those sales are harder to find and sleep is more enticing anyway, she said.
Schantz and her niece and grandniece from Virgina came to the Promenade Shops at Saucon Valley in Upper Saucon Township specifically for a 20% off sale at sportswear seller Athleta.
“COVID has opened the door for athleisure wear,” she said.
And while the deal was available online, shopping in person still has its advantages.
“Sometimes it’s just nice to try things on in person, especially shoes,” she said.
Last year saw extraordinary growth in digital channels as consumers turned to online shopping to meet their holiday needs during the pandemic, according to the National Retail Federation, the world’s largest retail trade association.
Online and other nonstore sales are forecast to increase 11%-15% this year to between $218.3 billion and $226.2 billion, according to the National Retail Federation. That number is up from $196.7 billion in 2020.
Despite supply chain disruptions, businesses are poised to have a potentially record-setting holiday shopping season, according to the retail federation.
Sales during November and December are expected to grow 8.5%-10.5% from a year ago to between $843.4 billion and $859 billion.
And while e-commerce will remain important, households are expected to shift back to in-store shopping and a more traditional holiday shopping experience this year, according to the federation.
“There is considerable momentum heading into the holiday shopping season,” said Matthew Shay, president and CEO of the National Retail Federation.
Shay said consumers are in a favorable position going into the last weeks of the year as income is rising and household balance sheets are strong.
The U.S. Commerce Department reported last week that retail sales rose a seasonally adjusted 1.7% in October from September. Pay raises and healthy savings for many households are credited with contributing to consumers’ willingness to spend, the department said.
Jocelyn Meck of Easton said it was only a coincidence that they were shopping on Black Friday because she and her husband, John, were in the market for a new TV after theirs died. They came to the Promenade Shops to visit the LL Bean store and give their friend Sebastian Sonesten, who was visiting from Sweeden, a taste of the Black Friday experience.
Soenesten, whose wife, Paige, lives in North Whitehall Township, said the holiday shopping frenzy isn’t a uniquely American phenomenon.
“We mimic it,” he said. “It isn’t as huge.”
Like many at the stores on Friday, Meck said her outing was mainly a way to spend time out of the house and see friends.
“I like being out right now, because we’ve been cooped for how many months,” she said. “Anything anymore where you can look someone in the face is worth it.”
Morning Call reporter Peter Hall can be reached at 610-820-6581 or email@example.com.


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Emirates National Oil Co (Enoc) announced on Tuesday it is joining hands with Saudi fuel retailer Aldrees to build at least 40 service stations in the kingdom. The Dubai-government owned retailer is facing losses at home and hopes to reverse them by expanding abroad.
Most of the Enoc’s trouble comes from the fact that it sells fuel at the petrol pumps well below the price paid for on international markets. Convenience stores and car washes at Enoc forecourts in the United Arab Emirates (UAE) help alleviate its financial burden.
However, the UAE market is not big enough to offset fuel sales losses which Enoc has said would exceed $730 million in 2011. As a result, Enoc has formed a 50:50 joint venture with Aldrees Petroleum, which enjoys healthy sales margins thanks to plentiful cheap supplies from Saudi Aramco, to increase its revenues abroad.
“So that’s why for the whole organization is to go outside and explore new markets.”
Enoc shut fuel pumps at its petrol stations in the northern emirate of Sharjah last year to limit losses from selling fuel at federally set prices well below its acquisition cost. The profitable Sharjah forecourt shops remained open, but the pump closures caused fuel shortages and long queues at remaining forecourts in Dubai’s less well-off neighbouring emirate.
Although the retail prices of fuel at Saudi pumps are less than half those in the UAE, because the price state-run Saudi Aramco charges Saudi retailers for its gasoline is even lower, Enoc expects its partnership with one of Saudi Arabia’s largest fuel retailers to be much more profitable.
Abdulelah Saad Aldrees, the head of Aldrees Petroleum, said Aldrees buys 91 octane gasoline for 0.36 rials a litre (less than $0.10) and sells it at 0.45 rials (about $0.12). It pays 0.51 rials for 95 octane gasoline and sells it at 0.60 rials ($0.16), he said. The higher octane gasoline costs about 1.75 rials ($0.47) in the UAE.
Unlike Saudi Arabia, the world’s largest oil exporter, and major UAE oil producer Abu Dhabi National Oil Company, Dubai does not have enough oil to meet its own fuel needs, forcing Enoc to buy it on the international market.
Aldrees operates more than 450 filling stations in Saudi Arabia, and the partners plan to build at least 40 more in the first phase the 400 million dirham investment plan. The first is expected to open next year.

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Posted on: 28/03/2019
Earlier this week, National Grid published the confirmed Winter 2018/19 Triad periods. In this blog, Business Development Manager for Asset Optimisation, Lisa Bunting, looks at the savings businesses would have made from reducing their consumption during these peak periods and how they can take the next steps to make the most of their flexibility.
Triads are the three highest half hourly periods of demand usually between 4pm-7pm throughout November to February. These three half hourly periods cover the cost of running the transmission network, also known as Transmission Network Use of System (TNUoS) charges.
Triad Periods confirmed
National Grid have confirmed the three Triad periods for winter 2018 occurred on:
• 22nd November 2018, 17:00-17:30, with peak demand hitting 45.28 GW,
• 10th December 2018, 17:00-17:30, where peak demand reached just over 45 GW,
• 23rd January 2019, 17:30-18:00, where the highest level of peak demand for this winter was recorded at 46.87GW.
This peak figure represents a reduction of around 1.6GW on the highest demand recorded for winter 2017 (48.5GW). The reduction has been caused by both ‘demand destruction’ where users are either removing or shifting peak load, and continued deployment of embedded generators helping to reduce the strain on the transmission network.
With our Triad warning service, we successfully notified our customers ahead of all these three confirmed triads periods. Our Energy Management Centre send a text or email notification to our customers when they predict a possible, likely, or very likely triad, so they can take action to reduce demand.
TNUoS costs set to rise for Winter 2019
Last winter, TNUoS charges were sitting between £30-£55/kW, depending on the location of your business.
The final 2019/20 TNUoS tariffs have now been published by National Grid, and from this, our in-house pricing team are predicting big swings in value with the exception of the two Scottish regions.
According to our latest forecasts, most regions will be paying more in TNUoS charges next winter (about 4% on average) with London being the most expensive region - this area’s TNUoS costs could rise from £55/kW in winter 17/18, to around £60/kW in winter 2020. Looking further in to the future, we only predict Triads becoming more expensive, regardless of where you might be located across the country, so there are significant savings to be made from actively avoiding triad periods in order to manage this cost.
With Ofgem’s Targeted Charging Review set to come into effect by 2021, there are plans to introduce fixed charges for Triads, which could have a big impact on the value of these cost saving opportunities. As a result, consumers are already looking at other ways to replace these cost savings with revenues from suitable Balancing Services and short-term wholesale market opportunities.
Last week I hosted a webinar with our Head of Asset Trading, Simon Kneale, which covered how businesses can take the next steps to make the most of their flexibility, looking at revenue streams in the energy markets and balancing services in more detail.
There’s no silver bullet to avoiding rising costs, or to future-proofing your business in this ever-changing energy landscape. But looking at how you can make money from the flexibility you have within your business is one way you can become a smarter energy consumer.
We are working with our customers to achieve economic benefits from simply adjusting the way they consume energy with our Managed Flexibility service, which is available from this winter. We are encouraging businesses to register their interest now and book in a site survey, so they can start seeing value from October this year.
If you are interested in this service, please get in touch.


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If customers have ever been motivated to buy an extra pair of jeans at Abercrombie and Fitch, or another dozen doughnuts at Krispy Kreme, Redmond-based PlayNetwork Inc. has had a hand in creating the environment that made it happen.
PlayNetwork is in the business of making customers want to stay, have fun and make purchases by creating music, branded messaging and video entertainment services individually created for retailers, restaurants and other commercial spaces.
Retail studies have shown that customers' purchasing patterns are influenced by the shopping environment -- the music they hear, the images they see and other factors.
PlayNetwork plans to influence customers' buying decisions by creating customized music, video and message play lists that match any commercial environment's specific brand, as well as designing an audiovisual system to deliver the format.
"It's a very user-friendly service that we have designed to be as headache-free as possible for our clients," said PlayNetwork president and CEO Adam Brotman.
The plan seems to be working -- in 2003 the privately held company posted revenues of nearly $14 million, a 74 percent increase over the previous year. To keep up with demand for the company's services, seven new employees were hired in 2003, bringing the total to 61.
Founded in 1996 with $150,000 in capital, PlayNetwork has established itself as a leader in the commercial music industry, providing creative in-store entertainment. PlayNetwork co-founder Brotman, 35, closed down his law practice to start the company and pursue his passion for the marriage of music and the new field of digital delivery and playback.
The first few years, according to Brotman, consisted of mainly trial and error, while he worked with major record labels on the rights for millions of licensed songs and music videos. At first, the record companies refused his request.
"I was really surprised to hear 'no', and I really had no idea how difficult it would be," said Brotman, who says he realized that the record labels want reassurance that he could put their music in front of a large customer base.
Brotman faced challenges on the other side of the equation, by finding it hard to sign up clients without a tangible product. It was the classic, chicken-and-egg dilemma, he says.
The stalemate was broken when Starbucks Corp. signed a deal with PlayNetwork to provide music for its chain of coffee shops, on the condition that Brotman would secure the record labels' licensing.
"Starbucks took a chance, believed in our product and services, and that was the turning point," said Brotman. More deals with both major and independent labels followed.
PlayNetwork enjoys the No. 3 position in the music-delivery industry and services nearly 15,000 subscriber locations. PlayNetwork also works with media-production companies and professional talent for creating or licensing video content, digital signage and messaging programs.
Contact: firstname.lastname@example.org • 206-583-0701


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Last year, Google pledged that, by 2022, it would include recycled materials in all of its Made By Google products, a list that includes Pixel phones, Pixelbooks, Google Home speakers, Nest devices, and accessories like phone cases and charging stands.
Today, the company announced it hit one of its goals ahead of schedule: all new Pixel and Nest products are now designed with recycled materials, according to Google sustainability systems architect David Bourne. That’s not to say its products are made entirely of recycled materials, but they at least include recycled materials somewhere in the product.
According to Google, the back cover of the Pixel 5 is made with 100 percent recycled aluminum, and the new Nest Audio has 70 percent recycled plastic, with the sustainable fabric cover it introduced with the Nest Mini last year. And on the newest Nest Thermostat, the trim plate (the part that attaches to the wall) is made from post-consumer recycled plastic.


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Long the bane of advertisers across the web, ad blockers have made connecting with digital users in the modern area a far more complex and intricate process than it once was. However, thanks a recent bug report from Raymond Hill, the progenitor of the popular uBlock Origin Chrome extension, the concrete status of ad-blocking software as part of the modern user experience for the web's most popular browser could be radically changing once again.
According to Daniel Oberhaus of Motherboard, a new version of Chrome – set to launch later this year – will break the functionality of many ad-blocking extensions (including uBlock Origin). While this might seem like it requires nothing more than some clever tweaking from the custodians of these Chrome add-ons, Hill explains that the revocation of certain core functionalities may permanently inhibit uBlock Origin and other similar services.
So why is Google revoking access to the user controls and parameters, including the "webRequest" API, in Chrome that breathe life into ad blockers? Plenty of industry experts would have no problem pointing to the fact that the bulk of this industry titan's revenue comes from its stranglehold on the world of digital advertising and as they draw certain nefarious conclusions. However, Google insists that this change is focused entirely on shoring up security vulnerabilities in its platform. Considering that browser extensions are one of the most popular vectors of attack for hackers and malicious programs, it is hard not to see the practicality of this controversial move.
Is the shattering of the current ad blocker status quo an opportunity to rekindle a fading connection with car buyers in your local marketplace? Or will Google's latest move to bolster security serve as nothing more than a small speed bump for the constantly growing number of modern web users who seek to tune out ad content whenever possible?
To dig into the full story, and learn even more about changes to Chrome that may be just beyond the horizon, be sure to check out the complete piece from Oberhaus and Motherboard by clicking on the link down below.


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Huawei Health is a mobile app designed to help users track their fitness and health goals. The app offers features such as step counting, heart rate monitoring, sleep tracking, and exercise tracking, among others.
In terms of reliability, Huawei Health has received mixed reviews. Some users have reported that the app works well and provides accurate data, while others have complained of inaccuracies and inconsistencies in the data provided. However, it’s worth noting that the app has been updated regularly, which has led to significant improvements in its overall performance and reliability.
Huawei Health has been taken down from the Play Store, but there are alternatives
It’s worth noting that the Huawei Health app is no longer supported on the Android Market, although it can still be accessed on Apple’s iOS. The news regarding the removal was spotted by GSMArena on Eske. The app was previously available on the Android Market, but it was removed less than a month ago. The last version available on the market was v10.1.1.312, which was quite outdated (released on July 15th, 2020) and did not fully support HWFO, HWFN, or their Band 6. If you want to activate the all-day SpO2 feature, you need a newer version of the app.
However, you can technically download a newer version of the Huawei Health app directly from Huawei, although this may not be a wise decision due to the restrictions placed on the company by many western governments.
Overall, Huawei Health is a well-designed app that offers a range of features to help users track their fitness and health goals. While its reliability may not be perfect, the app has been updated regularly, which has led to significant improvements in its overall performance. Ultimately, its usefulness and reliability may depend on individual user experiences and preferences.


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Hotels that are reeling from dramatically low tourist traffic can get a much-needed boost by switching their focus to the so-called digital nomads, or people who work remotely from locations across the world, one of Dubai’s top executive has said.
The rise of teleworking has meant that a “new kind of tourism” has emerged, as more and more employers embrace the idea that work-from-homers can get things done from literally anywhere, not just at home, but at a café, on the beach, even overseas.
According to estimates, the community of digital nomads has grown since the onset of the pandemic. Among the American workers alone, the number of travelling professionals jumped by nearly half (49 percent) to 10.9 million this year, from 7.3 million in 2019, according to MBO Partners.
“This new kind of tourism presents an exciting opportunity for the hospitality sector to engage with a wider audience, one that is expected to grow in the post-pandemic world, as more people choose to do business outside of the traditional office environment,” Jose Silva, CEO of Jumeirah Group, told Zawya.
REMOTE WORK PACKAGE
The Dubai-based hotel operator has recently introduced its new “Discover Remote Work Package”, which entices work-from-homers from around the world to relocate to the emirate and stay in one of their properties, the Jumeirah Emirates Towers.
Guests can opt to stick around for a few days or weeks for a fixed monthly rate that can include free meals, beach access and even laundry services.
Dubai has recently unveiled its digital nomad visa scheme, which provides remote workers overseas the opportunity to move to the emirate with their families and stay for up to a year, with access to services like education, telecom and banking.
“The new programme gives you the freedom to come to Dubai, bring your family, and work remotely, all while remaining employed in your home country,” Visit Dubai said.
Silva said Dubai offers a safe space for remote workers who want to enjoy a unique work–life balance “with unrivalled leisure experiences”. There is also a “broader opportunity” for Dubai to attract and retain new talent, he said.
“With incredible weather, freedom of movement and strict adherence to protective measures, Dubai continues to have huge appeal both as a holiday destination and now as a place to discover the very best of remote working. It will also no doubt convince visitors that starting a new expat life in this amazing city could be the best decision they ever made,” Silva said.
“Many people will come to the city to work remotely, and while here, [they] will not only discover how vibrant and dynamic it is to work but that [the city] also offers a great lifestyle for both families and individuals,” he added.
The hospitality sector has been among the worst hit by the COVID-19 crisis, as international visitor traffic has plummeted since the onset of the health outbreak. Due to the slowdown, most hotels across the UAE are expected to end the year with less than 50 percent occupancy rates, according to Colliers International.
For hoteliers to survive the pandemic, it is important to focus on the changing market trends.
“What’s key is that brands adapt to the needs of the market, which for many will be remote working or staying in a location longer to make the most of time away,” said Silva.
“At Jumeirah, we believe in agility. This is why we have launched our remote work package in Dubai to give digital nomads a safe space to do business and enjoy the city’s incredible lifestyle,” he added.
The feedback on their latest campaign so far has been positive, Silva noted, citing that “bookings have already been confirmed”.
Jumeirah’s remote work offer is for any customer looking for somewhere safe and dynamic to stay and work, as well as those who are looking for a better work–life balance.
“With idyllic temperatures until May and 365 sunny days a year, Dubai’s climate is ideal for all kinds of activities outside of working hours, and so our package is also for those who want to maintain or aspire to a better work–life balance,” Silva said.
“Our main focus, however, is on markets whose working hours would fit with those of Dubai for ease of doing business, such as Europe, Russia and CIS,” he said.
HOW MUCH IT COSTS
Remote workers who want to work from a luxury hotel should prepare to set aside a few thousand dollars per month.
At Jumeirah, the remote work package, which includes breakfast, laundry services for up to 20 items a week, twice weekly access to a two-kilometre private beach and entrance to temperature-controlled pool and facilities at Talise Fitness, can set one back €3,600 ($4,367) per head or €4,400 per couple, for a 31-day stay.
For a more “enhanced work experience”, guests can throw in an extra €500 ($606) a month per person to enjoy five business lunches every week throughout their stay, or for €1,250 a month per person for a full-board package that includes five business lunches and five dinners at select restaurants around Dubai every week.
(Reporting by Cleofe Maceda; editing by Seban Scaria)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2020


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Spotify is planning to cut about 6% of its employees, or around 600 employees, joining a slew of technology companies from Amazon.com to Meta Platforms in announcing job cuts to lower costs.
The move was announced in a filing Monday morning, confirming reports from over the weekend that there would be job cuts. Most departments will be impacted across the company, a Spotify spokesperson told Bloomberg.
The music streaming giant has about 9,800 employees, according to its third-quarter earnings report. Spotify laid off 38 staff from its Gimlet Media and Parcast podcast studios in October.
Tech companies, including Spotify, added to their head counts during the pandemic but were forced to make reductions in response to diminished advertising revenue and a shaky economic outlook. Amazon, Meta and Microsoft were among the biggest companies to announce staff reductions recently, while Google parent Alphabet said Friday it will cut about 12,000 jobs, more than 6% of its global workforce.
Spotify said in the filing that Dawn Ostroff, chief content and advertising business officer, will leave the company as part of a broader reorganization. She was instrumental in establishing Spotify’s podcast strategy by greenlighting shows and overseeing its podcast ad sales. Alex Norström, currently chief freemium business officer, and Gustav Söderström, currently chief research & development officer, will each take on additional responsibilities as co-presidents of the company.
The shares rose 2.3% at 9:59 a.m. in New York. The stock had lost 58% of its value since the end of 2021.
Severance charges connected to the layoffs could reach as much as €45 million, but Spotify’s margins, “which have beens stuck in limbo” will get a boost, wrote Bloomberg analysts led by Geetha Ranganathan. Though the company will be hurt by weakening economic conditions and a strengthening dollar, Spotify could follow Apple Music, which recently raised prices, analysts said.
Spotify made a massive commitment to podcasting beginning in 2019. It spent over a billion dollars on acquiring podcast networks, creation software, a hosting service and the rights to popular shows like “The Joe Rogan Experience” and “Armchair Expert.”
Still, the investments have tested investors’ patience. Shares tumbled last year as investors questioned when they’d begin seeing returns. Spotify executives said in June its podcast business would become profitable in the next one to two years.
“While we have made great progress in improving speed in the last few years, we haven’t focused as much on improving efficiency,” Chief Executive Officer Daniel Ek wrote in a blog post about the layoffs. “We still spend far too much time syncing on slightly different strategies, which slows us down. And in a challenging economic environment, efficiency takes on greater importance.”


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News - 23 June 2007
Why use the roads when the rivers are flowing more freely?
The British Chambers of Commerce (BCC) is calling for Government to re-think its approach to the water freight industry and recognise that the UK’s ports and waterways offer a green alternative to the road network.
Congestion on Britain’s road cost business £17 billion a year yet some commentators accuse the Government of being negligent in ignoring the extensive network of inland waterways and commercial shipping that offer the potential to accommodate a portion of this traffic.
The BCC claims that the Government’s thinking is muddled when it comes to water freight and gives the following examples of this:
In order to take advantage of this existing resource, the BCC is recommending to the Government that:
- It sets up an integrated freight unit that sits across the Department for Transport, the Department for Environment, Food and Rural Affairs and the Department of Communities and Local Government.
- Incorporate commercial inland waterways as part of the country’s strategic transport network
- Recognise and incentivise freight as a key responsibility in the objectives of the navigation authorities
- A planning system that recognises that vital port and inland waterways infrastructure must be protected, including stronger protection for wharves with good freight potential.
David Frost Director General of the British Chambers of Commerce, said, “The UK’s ports and waterways offer a green alternative to transporting goods across the country yet the Government appears to be ignoring them.
“Congestion on the road network costs businesses £17 billion a year and companies are willing to look at alternative ways to transport goods. Both the Eddington and Stern Reviews point towards Water Freight being an underused resource yet the Government is not taking forward plans to utilise its potential.”
Read related items on:
British Chamber of Commerce


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This month's ADP payroll report is a disappointment. The report says there were 135,000 new private sector jobs created during the month. That's well below the estimates which had been for roughly 170,000 new jobs. The number from April was also revised down from 119,000 to 113,000 new jobs.
The Treasury Department is going to sell 30-million more shares of General Motors (GM). It's the latest sign of the automaker's road to recovery. The Treasury just sold 200-million shares of GM back in December. This new sale will coincide with the UAW Retiree Medical Benefits Trust selling 20-million of its shares. By the way GM is set to reenter the S&P 500 again tomorrow.
President Obama may now be Apple's (AAPL) best hope at beating a biting ruling. The U.S. International Trade Commission says the company violated a Samsung patent with older models of the iPhone and iPad. That means, unless the President overturns the ruling, or it's blocked by an appeals court, the affected devices could no longer be imported here to the U.S. The patent covers technology used to send information over wireless networks. Right now there's a 60-day review period, during which time Apple can keep selling the devices. The products in question include the iPhone 3GS and 4, and the iPad 3G, 2 3G and 3. Apple stock remains around $450 a share, down 18% this year. By the way, the company says it plans to increase the staff at its headquarters by 46% over the next 3-years.
No admission of guilt today from one of Rupert Murdoch's former top lieutenants. Rebekah Brooks has just pled not guilty in London to charges stemming from her time at Newscorp (NWSA). Brooks is accused of conspiracy to hack phones while she ran two of Newscorp's British tabloids. The scandal eventually led to her resignation. Shares of Newscorp are up 75% over the past year as the company recovers from the beating it took over the scandal.
STOCKS TO WATCH
Homebuilder Hovnanian (HOV) is reporting earnings this morning. The company is expected to post losses of 5-cents a share on about $408-million in revenue. A year ago the company made profits of 2-cents a share but on significantly less revenue. The outlook for the company is what's key here as a housing recovery starts to take hold. Shares of Hovnanian are down 13% so far in 2013. But when you look at their performance over the past year, they're up 250%.
Next up is Mattress Firm Holding Company (MFRM), which is currently up 6% in early trading. The chain beat expectations yesterday afternoon when it reported earnings of 38-cents a share excluding items. Estimates had been for 36-cents. Revenue was also higher than expected, and the company is improving its outlook. Mattress Firm says revenue from stores open at least a year was down more than 5%. But the company has been expanding rapidly through a series of acquisitions. Shares have been on a tear this year, up more than 50% prior to this morning's climb, though for the most part they're making back losses from the end of last year.
Now we look at SHFL Entertainment (SHFL), formerly known as Shuffle Master. It's seeing gains this morning which could push its market cap over $1-billion. The company sells traditional gambling supplies like slot machines and card shufflers. But it's also pushing further into live-streaming gambling against dealers. The company recorded revenue yesterday afternoon of more than $77-million. It also edged out estimates posting profits of 21-cents a share. Earnings were also significantly higher than a year ago, lifted in large part by sales of electronic gaming machines. Even before you add in this morning's gains, the company's shares are up 40% over the last year and hit a new 52-week high on Monday.
Finally there's Monster Beverage (MNST). Shares of the company made a steady climb yesterday rising more than 10% to be the best performer in the S&P. The rise came as the company held its annual shareholders meeting. Monster says sales have been improving, up 9% when you combine April and May. The company had a disappointing first quarter. Yesterday's climb put the stock above its price at the start of the year.


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Italian carmaker plans to build a few dozen of the FXX-K model, whose price tag should be around $3m
Lamborghini Accademia, a one-day track driving course, was also launched at Dubai Autodrome
French motor company says it sold 35 of its eco-friendly Twizys car in Dubai
Event was to mark the establishing of its regional headquarters in Dubai
$4.1m worth of boats were sold at last year’s event
Al Shaali Marine says production of AS100 model has recently started; to make debut at Dubai Int'l Boat Show in March
Arab Council of Touring and Automobile Clubs says practice of illegally lowering mileage affects up to 40% of used cars in region
Iconic car is based on the 1989 movie staring Michael Keaton
“One second can be the difference between life and death,” says Dubai paramedic
The electric two-seater will be sold for $18,000 to $30,000
The inaugural show saw 8,500 visitors, 60 exhibitors with 38 boats on display
Super yacht “The Streets of Monaco” mimics the key landmarks of the city-state
Car is made by Chinese firm Brilliance Auto
Vigorous testing in extreme desert heat takes place ahead of Sept 3 launch of new Discovery Sport
Luxury travellers can now conveniently rent their dream car while on holiday in Europe, US and the UK
Sheikh Mohammed launched the new museum in Bur Dubai, which displays thousands of golden, bronze...
Real estate advisor Savills says UK's decision to leave the EU has tempted Middle East investors...
Aircraft spare part manufacturing, boat building and pharmaceuticals are all part of Dubai...
Construction Week’s Power 100 annual ranking of the most influential people in the middle east...
From Nancy Ajram to Huda Kattan, Arab ladies show off their style
A number of high profile and impressive projects are set to come to fruition across in the...
State investment funds Abu Dhabi Investment Council and Mubadala will hold 33.2 percent and...
From celebrities to fashion bloggers
Prime Minister says that he is confident economic cooperation between Qatar and the UK can...
The mad pace of hiring seems to have come to a screeching halt. And if not to a complete full stop, the rate is low and slow. This gives the time for employers... more


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If you didn’t attend this year’s MEDA Annual Meeting in Downtown Detroit, you missed out! Detroit is on a comeback, driven in partnership by some of its large corporations and local businesses with a belief in the city’s future.
According to the Detroit Regional Chamber, there has been at least $3.4 billion in investment and development announced in the city, since 2013; including 125 new restaurants and retail establishments that have recently opened. Overall, there are 378 restaurants in the city, and residential rental units in both downtown and midtown Detroit were nearly 100% fully occupied between 2013 and 2014. During the MEDA tours, there was evidence of a lot of economic opportunity, showing people are coming into the city to work, live and play; creating a vibe that was infectious and inviting. To further accelerate the process of turning downtown Detroit into a live, work, play hub that can draw in people from the outskirts of the city and suburbs, the implementation of a light rail project known as the QLINE financed by the private sector, is expected to be operational Spring 2017.
Additionally, two recent big projects include Amazon‘s announcement last fall to unveil a new corporate office and technology hub in the City in 2016, and the new Nike retail store. What’s more, since 2009 nearly 227,000 private-sector jobs have been added through the end of 2015, according to the Bureau of Labor Statistics.
The MEDA tours showcased how obvious Detroit has come in the past few years due to a coordinated development effort, largely led by the private sector. What’s important to understand is it wasn’t one building or so-called impact project this time around, unlike past efforts to revitalize the downtown. This time, it highlights a strategic approach involving many buildings with an intent to connect them with a network of public and semi-public spaces where everything works together to reveal the unique character of downtown Detroit and transform it.
If you haven’t been to downtown Detroit lately, I encourage you to come explore and experience a different Detroit…I know you will be pleasantly surprised!
Monique Holliday-Bettie, Economic Development Manger, DTE Energy is the MEDA Board Secretary in 2016.


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Watch as Brian Sozzi, Julie Hyman, and Brian Cheung discuss how the market is reacting to the latest earnings from 3M, General Electric, and UPS.
The benchmark S&P 500 hit a record high on Tuesday, boosted by Tesla, Nvidia and other tech-related companies, while upbeat results from UPS and GE lifted optimism around the earnings season. Tesla Inc rose 5.4%, extending a record run that helped the electric car leader surpass $1 trillion in market value on Monday after landing its biggest-ever order from rental car company Hertz. Chipmaker Nvidia rose 7.8% to an all-time high, while gains in Amazon, Apple and Microsoft helped the tech-heavy Nasdaq outperform.
The Case-Shiller Home Price Index for August came in at +19.8%, right in-line with what analysts were looking for.


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Published Feb 25, 2009The anticipation for Virginia rap duo the Clipse's Till The Casket Drops just got heavier with the announcement that legendary producer Rick Rubin will be jumping on board for a few tracks. According to a report from EW.com, Rubin has already completed one track with the duo and will spend the next few weeks with them to record a few more.
Rubin joins a hot list of rumoured producers that includes Kanye West, Swizz Beatz, T, the Neptunes and many others for the album. While there is no set release date, the album has been promised for release sometime this year, and debut single "Kinda Like a Big Deal," which features Kanye West, will drop March 9.
The Clipse released a new mixtape, The Road To Till The Casket Drops, in December.


text: Madden NFL 21 is EA's next installment in the long-running football simulator series. It has received mixed reviews since releasing in August. Many have enjoyed the Face of the Franchise mode, which gives players the ability to take a recruit out of high school all the way to the big leagues. \nhttps:\/\/www.youtube.com\/watch?v=uexHW_GCdkM \n \n \n \nThere are others that have appreciated the throw-bad mode called The Yard. It highlights everything great about NFL Street, which unfortunately, hasn't seen life in years. Then there are some that haven't been too impressed with this latest installment because it lacks ingenuity. \n \n \n \nWhichever side of the fence you fall on, you've probably been anxious to see how Madden NFL 21 would perform on a next-gen console. The Ps5 and Xbox Series X are now available, although finding either is pretty difficult currently considering the low inventory at stores and online. \n \n \n \nBut if you've wondered just how different things would be from this generation compared to the last, then you're in luck. A new trailer came out for the game not too long ago that highlights some next-gen visuals and capabilities that fans can look forward to when they're able to pick up a next-gen console. \n \n \n \nThe game looks stunning from what's shown in the sequences in the trailer, although most of them look like cinematic. Even still, it's nice to see how much detail EA has put into a game that has had the same rinse and repeat formula for years now. \n \n \n \nOne of the next-gen designs that stands out very early is the use of RFID tags, which have been incorporated into every player's shoulder pads. It's technology designed to influence animations, acceleration rates, and movements. \n \n \n \nEvery player has unique stats in the league, but in previous Madden games, it has been hard to experience much differentiation. That's not the case anymore thanks to this next-gen upgrade for Madden 21, which will be available on December 4th. \n \n \n \nWhen this update does go live, players can finally feel authentic controls and make use of individualistic attributes like never before. That could be just what the Madden franchise needs right now. \nAnd this could be just the start. As years go by, it will be interesting to see how EA makes use of next-gen console hardware. They could really elevate the series in ways that weren't previously possible, both in the graphic and performance departments. It's an exciting time to be a football gaming fan.


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By Antonio Viveros
Many restaurants featuring organic food have sprouted around New York City, often in middle-class, wealthy neighborhoods or commercial areas. Pick & Eat’s owner chose an unlikely location to open, on the corner of 177th Street and Broadway in Washington Heights.
Amid the largest concentration of Dominicans in the city and a great many Dominican restaurants, why would the residents of Washington Heights, a working-class neighborhood, consider paying $15 to $20 for lunch, when less-expensive food is available at $5 to $8 just across the street? Pick & Eat’s owner and manager, Alex Peralta, a native Dominican, is determined to challenge the status quo.
The restaurant opened in 2011, and some residents view it as a wild gamble.
Maria Lopez, who lives on 176th Street and Broadway, is a frequent customer at Pick & Eat, and said (in Spanish), “The neighborhood has been changing dramatically.” Juan Lerma, another frequent customer, works at a nearby bakery and said (in Spanish) the clientele “is getting more whiter and more educated” and that “the tips are better!”
Pick & Eat would have not been possible without the great shift in demographics. According to the Census Bureau’s Community Survey of 2011, the median income of a three-block radius around Pick & Eat is upward of $60,000, significantly higher than two blocks to the south or north. There are huge income disparities in Washington Heights, reflecting both gentrification and a more highly educated population. The area’s relatively low rents and quick subway service to Midtown on the A train have attracted many young professionals.
“I saw people moving in and not out, I saw it in people’s faces and you could tell they are educated people, white, black and Hispanic,” says Peralta.
Census data shows that the number of neighborhood residents with bachelor’s degrees has increased 39% since 2000, while the number enrolled in college is up to 52% of the population from 15%.
Nonetheless, Pick & Eat might be ahead of its time. Still, it has 300 followers on Twitter, mostly positive reviews on Yelp.com and hundreds of check-ins on FourSquare.
Peralta, 36, a lawyer and personal trainer, decided to go to culinary school after practicing law – to follow “his passion.” He says his idea was to create a restaurant that could combine different spices from his background with a healthy cuisine. His initial idea was to open in Midtown, but with an already saturated market he looked elsewhere, eventually settling on Washington Heights, where he believed he could help the community to eat healthier.
Across the street from Pick & Eat are two mom-and-pop competitors that are open 24 hours a day and have been in existence for more than a decade. Workers there were reluctant to comment, but one waiter who did not want to be named said Pick & Eat is not much of a threat, because it sells to different clientele – the after-club/lounge people who rush to the area for a 4 a.m. meal and those who are looking for a cheap lunch. (Owners of other organic restaurants, such as Flavors in the Wall Street area, declined to speculate about whether they would ever consider opening a restaurant north of 96th Street.)
Selling the food aside, the highest margin items in the restaurant are typically alcoholic drinks, without which most restaurants would not survive. Pick & Eat has secured a liquor license, but only has beer and wine, most of which is organic, on the menu.
Building Pick & Eat was not easy; it took two years to convert the space from a former Papaya Dog to an organic eatery. Peralta persuaded the landlord to give him a year rent-free, in return for which he signed a long-term lease. Part of Peralta’s message is that Pick & Eat is not just a restaurant but a project for his community.
While Peralta wouldn’t disclose revenue, he said the typical customer spends $15 and that he has about 200 customers a day, along with some catering orders. His goal is 300 customers daily.
Peralta said he relies on word of mouth and social networking tools such as Twitter to promote his business.
“It is always about keeping the customer happy, even if I have to give them 10 times what they order to make them happy, it is always about the next sale and that customer returning,” he said. “It is always about the customer.”


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Mitsubishi runs parody ads for “Kamen Reito Shun”, starring Yoshihiko Aramaki.
Premium Bandai announced a pair of figurines for classic Toei series Giant Robo.
Tamashii Lab reveals the upcoming release of the Revolcane from Kamen Rider Black RX.
A new statue of Ultraman G from the 1990 Ultra series, Ultraman: Towards the Future has been revealed.
- Site News and Announcements
- Summaries and Previews
- YouTube Channel


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Johnson & Johnson Recalls Several Sunscreen Products Due To Benzene? How You Can Be Proactive and Protect Yourself
Pharmaceutical and packaged goods giant Johnson & Johnson recently recalled five of their aerosol spray sunscreen products.
There are millions of nerve endings in the lips which explains why we may find kissing very pleasurable. But, of course, having dry lips is a sure way to make kissing less sexy and fun (both for you and your partner).
May is skin cancer awareness month. And with all 50 states taking initiatives towards reopening, people are finally out and about in the sun. What better time to discuss skin cancer and sun protection?
A recent study conducted by the U.S. Food and Drug Administration (FDA) found evidence which suggested that chemicals in sunscreen are absorbed into the body “at levels that raise some safety questions,” according to one report discussing the study.
Have you ever considered what would happen if the sun disappeared?
Sunlight exposure has many health benefits, including vitamin D and mood elevation. But it may also have unwanted effects like sunburn, skin cancer and premature aging.
Vitamin D: You know you need it, but where do you get it? Here’s your “sunshine vitamin” cheat sheet with quick facts you need to know about sun exposure, vitamin D-rich foods, recommendations and signs that you have too much D.
Now that summer is here, you will likely be spending much more time in the sun. While the sun has many health-promoting benefits, such as vitamin D production, it can also lead to other undesirable effects, including sunburn and cancer.
Share Your Story And Help Others Live Healthier LivesAdd My Story
We recommend Science-Based Products from Metagenics


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BillGO makes bill paying faster, integrating its app with Facebook Messenger for secure and easy payments at any time.
Sign in or buy a plan to view this innovation
Banking is only one of the many industries being revolutionized by mobility. BillGO has just launched an updated version of its secure bill-paying app. Using a Facebook Messenger Chatbot, BillGO allows users to pay any bill, any time, without leaving the social media site. The application also enables users to split bills with friends and automates bill payment to make sure users never miss a payment again — or BillGO will pay the late fees.
Previously known as BillHero, the company is in the process of rebranding to BillGO, following release of its Facebook Messenger app capability, the first in the world. Bills from more than 7,500 companies are accessible via the app though currently BillGO is only available in the US. Available for iOS and Android, BillGO sends a single-use authentication code to authorize each Chatbot session and ensures that only non-secure details are sent through Messenger. BillGO says it is continuing to develop the technology and security of the app.
We recently talked to the founder of Penny, an emoji chat app helping millennials with their finances, but largely, banking is playing catch up with other industries to accommodate the way twenty somethings organize their lives. In what other areas can money managing be made less daunting and more convenient?


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A new book featuring 13 stories about Jodie Whittaker’s new Doctor Who will be published this autumn.
Thirteen Doctors, 13 Stories will include tales by the likes of Naomi Alderman and Juno Dawson.
Building on the existing 12 Doctors, 12 Stories anthology, the new book will be released on November 1st.
“Believe it or not, my first ever rejection letter, dated 1992, was from Doctor Who Magazine for a story I wrote as a teenager obsessed with the Doctor,” said Alderman. “I’ve loved Doctor Who since I was a child, so it’s particularly meaningful and exciting for me to be adding my name to this anthology.”
Dawson is meanwhile authoring one of the first novels to feature the Thirteenth Doctor, The Good Doctor. She said it felt “like a bold era for Doctor Who” and “a dream come true” to be part of it. That book will arrive on 25th October alongside two other Thirteenth Doctor adventures, The Molten Heart by Una McCormack and Combat Magicks by Steve Cole.


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It turns out the theft of celebrity photos was done the old-fashioned way, according to Apple, with the hackers figuring out user names, passwords, and security questions of the celebrities.
The statement from Apple aims to dispel concerns that hackers were able to break into its iCloud service—which would’ve opened the possibility of data being stolen from any number of consumers.
The distinction may not mean much for some consumers, and public perception of the cloud’s security will still almost certainly take a hit. If nothing else, the incident has shown that “the cloud is fundamentally insecure,” with no one way to ensure total protection other than not putting data there in the first place, Ars Technica wrote.
But a “targeted attack” on celebrities, as Apple puts it, is not actually much of a game-changer—these sorts of hacks, as we all know, are actually very common.
Here’s the full statement from Apple:
We wanted to provide an update to our investigation into the theft of photos of certain celebrities. When we learned of the theft, we were outraged and immediately mobilized Apple’s engineers to discover the source. Our customers’ privacy and security are of utmost importance to us. After more than 40 hours of investigation, we have discovered that certain celebrity accounts were compromised by a very targeted attack on user names, passwords and security questions, a practice that has become all too common on the Internet. None of the cases we have investigated has resulted from any breach in any of Apple’s systems including iCloud® or Find my iPhone. We are continuing to work with law enforcement to help identify the criminals involved.
To protect against this type of attack, we advise all users to always use a strong password and enable two-step verification. Both of these are addressed on our website at http://support.apple.com/kb/ht4232.
The incident comes a week before a major Apple product event, which is rumored to involve the unveiling of a new iPhone and Apple’s first smart watch.
Kyle Alspach has worked in journalism in Massachusetts since 2005 and was one of the original staff writers at BetaBoston.
Follow Kyle on Twitter


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Surface Pro 6, Surface Laptop 2, and Surface Studio 2 all made their debut in October, but they've been limited to going on sale in a handful of countries since. However, this week, Microsoft is rectifying that by launching its latest Surface devices in a slew of new markets.
In total, all three Surfaces are launching in 20 new markets starting February 7. Further, for anyone looking to get their hands on the Cortana-equipped Surface Headphones, they'll be headed to eight new markets in March, Microsoft says.
Unfortunately, Microsoft isn't exactly forthcoming with exactly where these 20 new markets are. You'll have to check your local Microsoft Store pages for the Surface Pro 6 (opens in new tab), Surface Laptop 2 (opens in new tab), and Surface Studio 2 (opens in new tab) to see if they're available in your region starting today.
As for the Surface Headphones, Microsoft did reveal where we can expect the headphones to launch in March. The list of new markets includes:
- New Zealand
If you're a part of today's rollout, you can grab the latest Surface lineup via the Microsoft Store now.
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JACKSONVILLE, Fla. - An 18-year-old man was arrested overnight in connection with an attack on a Metro PCS store clerk during a robbery of a Westside store on Friday, according to the Jacksonville Sheriff's Office.
Emery Hand was booked into the Duval County jail early Tuesday on charges of attempted murder and armed robbery.
Surveillance video from the store on Ramona Boulevard showed a vicious attack on the store clerk, who was stabbed and robbed just after closing the store Friday night. The clerk still recovering in a local hospital.
News4Jax was able to watch surveillance video of the robbery, but honored a request not to release the video to the public. The Jacksonville Sheriff’s Office released pictures from the video on Monday, hoping someone in the community would help identify the robber.
Police said the photos did generate numerous tips and Hand was arrested at a home on in Arlington. According to JSO, Hand admitted to the robbery.
Co-worker reacts to attack
The clerk was counting out the day's receipts after midnight Saturday morning, after closing the store, when the attacker came in through an unlocked back door. The video shows the robber leave several times, apparently casing the store, before he finally sneaks to the front, surprises the clerk and stabs him several times before taking the cash from the register and running away.
The clerk is 64 years old, but the video shows he put up a fight to protect himself and the store.
Muni Shirzai also works at the store and said she can't believe what she saw when she watched the surveillance video.
“It really makes me sad. He doesn't deserve this. He really doesn't,” Shirzai said. “This makes me angry, because these types of people, they are the ones to get away with this type of stuff. (They think,) 'I know he's an old man, and he won't be able to do anything.' I'm pretty sure they had this all planned out.”
News4Jax was told the clerk could lose an eye as a result of the violent attack.
“He likes to help customers,” Shirzai said of her co-worker. “A lot of customers come later. He always helps customers.”
Because the victim is so friendly, Shirzai said it's hard to believe what happened at the store.
“It does make me scared,” she said. “At the same time, I'm OK. I know I'm OK. We just have to be careful, because this could happen at any time.”
Cellphone stores targeted
Metro PCS stores have been hit by crime several times in Jacksonville, including:
- A violent robbery in 2011 on Soutel Drive
- A deadly robbery in 2013 on Main Street in Brentwood
- A robbery in April 2016 at the store at 103rd Street and Blanding Boulevard
- Saturday's violent robbery on Ramona Boulevard
“It is somewhat of an easy target because this is the type of business where people come in and pay their bills with cash, and people know that and know that at certain times of day -- maybe closer to closing -- there's a large amount of cash on hand,” News4Jax crime and safety analyst Gil Smith said.
News4Jax contacted the Metro PCS corporate offices, but they have not returned requests for comment. We want to ask them about the safety of the stores, even though they are independently owned.
Copyright 2017 by WJXT News4Jax - All rights reserved.


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Vancouver startups Roowsi, Quupe target those living in condos, and Millennials, who don't want to own too much stuff.
From power tools to pop-up movie theatres, and virtual-reality goggles, a new Vancouver startup aims to help Vancouverites stop buying stuff they don’t have room to store.
Roowsi has entered the item-rental marketplace, with an app and a website, hoping to capitalize on the lack of storage space in condos and a growing desire, especially among Millennials, to rent instead of buy.
The company offers among other things camping gear, kayaks, kids’ party supplies, VR gaming consoles and an outdoor movie-night kit, which includes a projector, screen and tent lights. It aims to be an environmental responsible company and reduce waste by being part of the sharing economy.
Several Vancouver startups have jumped on the sharing economy, which is usually peer-to-peer based and favours rentals, or swapping, over buying. One such company is called Quupe, which offers peer-to-peer lending of items such as sports gear or gaming consoles, and another is The Thingery, billed as a lending library comprised of things that neighbours donate.
“We tried many approaches … but we found that when it comes to renting, people want consumer confidence in the products, so they might not want to rent a sleeping bag from someone without being confident that it hasn’t just been slept in,” said co-founder Simon Choy.
Choy said they’re working with vendors to ensure that they have the latest gear or electronics and their plan is to be “the best friend that you would borrow from.” He also want to focus on volume, so that they can keep rental prices down.
So far the most popular item, he said, is their outdoor movie kit.
“Since launching in July, it has just gone from one block party to another,” he said. “We even had a hiking group throw a movie-in-the-forest party. So that was really interesting.”
The camping kit is also popular, he added, with young urban professionals who don’t want to buy all the gear but still want to head out for weekend trips to the wilderness.
Quupe launched last February.
Quupe’s app works by pairing lenders, who make money by renting out items such as sports gear or video-game consoles, and borrowers, who temporarily need an item.
Angela Hamilton, co-founder of Quupe, said camera gear and drones are the big draws, while lenders are also doing well renting out their snowboards, kayaks, snowshoes and even unusual items like a chicken coop.
“Urban spaces are getting smaller, so these types of solutions are becoming more and more popular,” she said.
The app also has a rental calculator that helps lenders figure out how much to charge someone for a piece of equipment.
Quupe also insures an item up to $10,000.


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With the cold weather and the holidays fast approaching, Black Friday remains in first place for the biggest sale of the year. With all of the changes 2020 brought, Black Friday changed forever. Many sales were restricted to online only and stores were closed to promote staying home during COVID. Is this change good or bad for the economy? And is Black Friday as we know it, ever going to make a comeback?
COVID-19 has caused many problems for the retail industry as well as for the transportation and warehousing industry. Global shutdowns and shortages of workers has caused scarcity of some items, which can be detrimental to some businesses. Many companies rely on specializing on certain items, and the pandemic lead to the ceasing of production of some of these things like toys and games and various items of clothing.
The origin of Black Friday is unknown. It can be traced to multiple events. The first occurred in 1869 with the gold stock market crash. According to “What’s the real origin of Black Friday?” by the History Channel, “Two notoriously ruthless Wall Street financiers, Jay Gould and Jim Fisk, worked together to buy up as much as they could of the nation’s gold, hoping to drive the price sky-high and sell it for astonishing profits. On that Friday in September, the conspiracy finally unraveled, sending the stock market into free-fall and bankrupting everyone from Wall Street barons to farmers.” During this time period, many companies identified their production as being “in the red” or “in the black.” “In the red” means that the company has gone a whole year while operating at a loss. “In the black” means that the company has earned a profit, which usually occurs on Black Friday when shoppers buy gifts for the holidays. There are other stories behind it, all more absurd than the last.
Black Friday is an especially important event that precedes the busy holiday season. Many shoppers rely on this time to purchase gifts for loved ones.
Marissa Glass shopped during the day with family and friends. Glass says “The sales weren’t as good as they usually are in past years because the companies had had the sales for the whole week.” The companies now have sales that aren’t as beneficial to shoppers because it would be counterproductive to have a huge sale all week. If they did, these companies could run out of inventory and not have as many items left to sell during the holidays.
This new version of Black Friday gives shoppers the opportunity to shop throughout the week as well as online. This allows for an extended amount of time for people to spend money that goes back into the economy to help stabilize it. Although this isn’t the traditional holiday, shoppers know and love, it still can provide consumers with the sales and discounts they take advantage of for the upcoming holidays.
Whatever the origin, Black Friday has turned into a national holiday of sorts. It is a time to purchase gifts for the upcoming holiday season and to appreciate the quick availability of items to gift for the holidays.


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Its not even on sale yet, but JB Hi-Fi are predicting big things for the next Samsung Galaxy hero, due to go on sale next week.”Samsung Galaxy S5, Xbox One and PS4 are our headlines acts” this year, says JB Hi-Fi Marketing boss Scott Browning.
“The more we can get our hands on, the better,” he says, referring to the recent stock shortages of both Sony and Microsoft’s consoles as well as the Microsoft Surface, which has surged in popularity. Xbox One supplies are still tight but PS4 are getting back on track.
Telcos including Telstra, Vodafone have all reported major interest in the new waterproof 5.1″ Full HD SUPER AMOLED Galaxy S5, with 16MP camera with detection auto-focus, tap ‘n pay mobile payments, likely to be the hero smartphone of 2014.
But it’s not just smartphones and consoles.
Tablets are still getting major attention from tech consumers – especially the Microsoft Surface tablet which after a slow start, is now selling like hot cakes, Browning told CN.
The Surface all-in-one which converts from a tablet to a notebook, “solves a lot of the problems associated with other tablets including multi format issues.” The Windows 8 device offers good value proposition, with better features than previous models.
Other tablets from Lenovo are also proving popular as are cheaper sub -$300 tablets – mostly Androids. These have a “gadget attraction”, a cheap gaming solution and good for kids.
Is the PC dead?
No, says Browning.
All in one desktops are still in demand, although admits there’s no growth in the category.
The quality of laptops are also getting better but tablets are eating into lower end sub $700 notebooks, noting a “big shift” in favour of tablets under this price point. Apple Macs are also still strong sellers.
“I wouldn’t say (PC are dead) dead but are certainly decreasing as we become more mobile. Tablets also continue to increase in popularity in line with the overall shift to mobile devices.”
“We’re also gravitating towards home appliances,” a broad mix of lifestyle goods like juicers, blenders, and floorcare like the new robo vacuums, says Browning.
It’s an “exciting opportunity” he says, noting white goods are now kitted out with smart multi-features,Wi-Fi connectivity and are better quality.
However, TVs don’t have the same must have now momentum as, say, a console or iPhone, but OLED and Curved screen sets are driving that category.
People are upsizing to bigger screens, says Browning. Two years ago it was 42″ TV displays – now its 55″-65″ sets that are the big trend. Price deflation, changing living room designs and thinner screens has contributed to this.
Cunningham also notes high end panels are the main TV trend in Betta stores.


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Developer Kosta Eleftheriou thinks there are major scams threatening to ruin the integrity of the App Store. He told The Verge that they are spreading in part because Apple is not enforcing its own rules strictly enough.
“It’s surprising more people don’t know about this. The extent to which this has been going on and is currently going on is absolutely mind-blowing,” Eleftheriou tells The Verge of the magnitude of fraud he says is occurring daily on the App Store. “In particular now with the App Store, which is my main concern, the problem has grown to such an extent that having the rating and review system is making it worse. It gives consumers a false sense of security and a false idea that the app is great as you’re entering it through a glowing App Store page with raving reviews.” His vocal complaints, which have attracted the attention and support of countless other app developers in the iOS community, underscore the increasing tension between Apple and the software makers upon whom it depends.
Check It Out: Developer Raises Warning About App Store Scams


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Why plants are smarter than us
Scientists have found that plants must do complex arithmetic to avoid starvation.
Comparing someone’s intellect to that of a potted plant is no longer such an insult.
Scientists at the John Innes Centre, a British research institute that focuses on plants and microbiology, found that plants must do complex arithmetic to calculate the amount of food needed to get them through the long, dark night.
"This is the first concrete example in a fundamental biological process of such a sophisticated arithmetic calculation," said a JIC mathematical modeler, Martin Howard.
The new research, published in eLife, reports that mechanisms in plants’ leaves estimate the size of the plant’s starch store and the length of time before the sun rises and energy again becomes available. In daylight, plants use the sun’s energy to convert carbon dioxide and water into sugars and starches. Based on that information, the plant’s leaves appropriately adjust their rate of starch consumption to avoid starving before the sun comes up, but without being wasteful and harboring too much starch. At the end of the night, the plants project to have used 95 percent of their starch.
The precise calculations account for variations in daylight and accumulated starch stores.
“The calculations are precise so that plants prevent starvation but also make the most efficient use of their food,” said JIC metabolic biologist Alison Smith. “If the starch store is used too fast, plants will starve and stop growing during the night. If the store is used too slowly, some of it will be wasted.”
Scientists proposed that information about the size of the starch store and nighttime-length is encoded in the concentrations of two kinds of molecules in the plant. The scientists have called those molecules S for starch and T for time. The S molecules stimulate starch consumption, and the T molecules inhibit that consumption, so the rate of starch consumption comes out to the ratio of S molecules to T molecules – or S/T.
Scientists believe that further study of how plants regulate their starch consumption could give insights into more productive farming techniques.
"The capacity to perform arithmetic calculation is vital for plant growth and productivity," said Smith. "Understanding how plants continue to grow in the dark could help unlock new ways to boost crop yield."
So when faced with a tricky math problem, go ahead: vegetate.


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The company’s expense technology allows businesses to create organizational flows for cash spend, direct funding approvals and automate manual tasks in order to simplify spending experiences.
The platform also offers pre-coded transaction data syncs to company ERP, automatically reconciling purchases and procurements, and delivering up-to-date actuals and reports for finance teams. Now, Teampay is upping its reach with a full integration in to the Microsoft Teams interface and mark the first spend management platform to be synced within Microsoft’s Dynamics 365 Business Central and Finance & Operations system.
“There’s a large value chain of partners, resellers and other products that we’ll be able to dip into with Microsoft, so the thought process was around just gaining that access to more of the market,” Teampay CEO and co-founder Andrew Hoag said in an interview with FinLedger.
“Our new Teams offering provides a unique solution for the many companies who depend on Microsoft’s ecosystem and further expands our global enterprise reach,” Hoag said. This groundbreaking solution delivers a seamless experience for employees, reducing friction and increasing satisfaction.”
This announcement is the latest in a series of partnerships, products and integrations released by Teampay this year. The company teamed up with Silicon Valley Bank to offer seamless spending management controls to business card holders in April. It then followed that offering by releasing its digital corporate card, Catalyst, alongside a new iOS app in partnership with Mastercard in June.
The platform was originally built with small and medium-sized companies in mind. The goal: helping financial authorities to simplify their jobs so they don’t need to run around tracking down employees or giving access for individual purchases.
“For those smaller companies we really just give them leverage. It’s usually a single finance person, and he or she is trying to get everything under control. Maybe they have an outsourced bookkeeping team, but not a lot of support, and they just want leverage,” Hoag said.
“They don’t want to have to go chase down every employee, every receipt, tell them what they did wrong, tell them what they didn’t code.”
The company has grown over the past year to include enterprises reaching to hundred of employees, like Chime, Foursquare, Grammarly and Zumper, with Hoag sharing that the pandemic has been an accelerant for the platform. Despite increased complexity for larger business clients, he told FinLedger the simple, straightforward framework that Teampay built for smaller businesses still works at a larger scale.
“Obviously the bigger companies are more complex systems, so we have tie ins with HR systems, accounts payable and other business systems including single sign-on, access control, security, etc. So we have those tie ins for the larger companies, which probably differentiates a little bit there,” Hoag said.
“Those things make our integration unique, but the core value prop that we learned in smaller companies, around simplicity and efficiency, we still carried forward.”


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French Connection is poised to take on the Russian market, following the success of a franchise store in Moscow.
The retailer opened its first Russian shop in Moscow 18 months ago. Operations director Neil Williams said the business is now considering how to tackle further expansion.
'We opened the franchise store with two guys who run multi-brand stores. We are reviewing that structure and seeing whether we should get involved with a bigger partner,' said Williams. It is unlikely the retailer would open own-managed shops, and is considering either a joint venture or continuing along the franchising route.
The retailer will complete its review by July and plans to open more stores in Moscow before moving out to other cities. Williams has identified at least five suitable locations in Moscow. 'Then we need to establish where to go. There's an awful lot of demand for our type of product,' he said.
The emerging Russian retail market was worth US$94 billion (£53.05 billion) in 2002, and Moscow accounted for 28 per cent of that, according to research house GfK.
M+M Planet Retail analyst for central and eastern Europe Boris Planer said many Russian consumers would not be able to buy into high-end fashion brands - the average spend per person last year was US$1,500 (£847). However, he said the market is growing and it would be worth gaining a foothold.
Kingfisher and Wal-Mart are also considering opening stores in Russia.


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December 2, 2020
Brazilian shopping mall company BR Malls issued BRL500 million ($95.9 million) in long-term debentures in the local market after two other issuers completed multi-part deals, according to the capital markets association Anbima.
With Itaú BBA as lead coordinator, BR Malls priced the new 2099 notes at the DI interbank lending rate plus 2.3%, according to Anbima.
BR Malls confirmed in October that it was in merger talks with Ancar Ivanhoe to create the largest shopping mall operator in Brazil.
Brazilian shopping mall company raises $96 mln as two other issuers complete multi-part deals


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Equifax, the embattled credit scoring firm reeling from a data breach that may have impacted as many as 143 million U.S. consumers, announced news on Tuesday (Sept. 26) that Richard Smith will retire as chairman of the board and CEO of the company.
In a press release, the company said Board Member Mark Feidler will serve as non-executive chairman. Paulino do Rego Barros, Jr., who most recently served as president, Asia Pacific, and is a seven-year veteran of the company, has been appointed as interim CEO of Equifax.
“The Board remains deeply concerned about and totally focused on the cybersecurity incident. We are working intensely to support consumers and make the necessary changes to minimize the risk that something like this happens again. Speaking for everyone on the Board, I sincerely apologize. We have formed a Special Committee of the Board to focus on the issues arising from the incident and to ensure that all appropriate actions are taken,” Mark Feidler said in the press release.
Richard Smith is the most recent executive to leave the company in the wake of the data breach that, in addition to impacting 143 million consumers, exposed the credit card numbers of 209,000.
“The cybersecurity incident has affected millions of consumers, and I have been completely dedicated to making this right. At this critical juncture, I believe it is in the best interests of the company to have new leadership to move the company forward,” said Smith in the Equifax press release announcing his retirement. “Equifax is a substantially stronger company than it was 12 years ago. At this time, however, the Board and Rick agree that a change of leadership is in order.”
In the wake of the breach, the company let go Chief Information Officer David Webb and Chief Security Officer Susan Mauldin. The cybersecurity incident also prompted a slew of investigations from the Federal Trade Commission and every state attorney general.


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At age 19, Lynchburg native Seth Westgate realized his passion for food service thanks to the infectious joy of local pizza truck proprietor Al “Vito” Vassallo.
“When we got busy on the food truck, Vito would get excited,” Westgate recalled. “He’d start dancing around and just being silly, messing around. That instilled a passion for [food service] in me. I love to be busy, and I love serving people food that I know is quality.”
Six years after he started working for Vito’s Pizza, Westgate is now the owner and operator of 5th Street Vito’s, downtown Lynchburg’s newest pizza shop. Along with his two brothers, Myles and Ethan, he is laying the foundation of a family-run business he hopes to continue for years to come.
After working alongside Vassallo in his food trucks, Westgate got the initial opportunity to try his hand at running his own business when Vassallo decided to retire.
“I worked with Vito for a couple of years, and then he retired,” he noted. “He told me to build a truck and that I could have all his spots. That’s where it started with the food truck.”
Westgate had success and enjoyed the food truck business, often traveling to businesses around Lynchburg to serve company lunches and setting up at community events.
Everything changed in March 2020.
“I did [the food truck] full-time for a few years,” said Westgate. “Then, when COVID-19 hit, I really didn’t have a choice but to do something different.”
He knew his best move was to try to find a brick-and-mortar location for his business.
One place stood out to Westgate in particular: the building on Fifth Street that formerly housed Daughters and Sons Pizza. The building sat empty for over a year and was not put up for lease, but in April 2021, the Westgate family’s fate changed.
“One day, my dad was driving by and saw it was up for lease,” Westgate recalled. “I called and signed the lease two days later.”
Westgate, his two brothers, and their parents spent the next five months tearing down, reconstructing, and redecorating much of the inside of the building.
Finally, on December 10, 2021, 5th Street Vito’s opened its doors to the public.
Westgate said that while there has been a learning curve for him, running the restaurant has been a blessing.
The three Westgate brothers make all their products in-house—everything from wing sauces to dry rubs to blue cheese dressing—and are consistently honing their craft to make the best pizza, sandwiches, salads, and wings for their customers.
“I am going for the best pizza in Lynchburg this year,” Westgate said.
“I want to get that award.”
Photos Courtesy of Downtown Lynchburg Association


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Audi has announced they plan on selling the upcoming RS4 in both Sedan and Avant body styles.
Good news for those who are not too fond of wagons as Audi has decided to launch the range-topping RS4 as a sedan as well, driven by an increasing demand in markets such as United States and China. It will be available from day one together with the Avant and will likely go on sale in the second half of 2016. We are making this assumption regarding its launch date based on a statement made by Quattro GmbH boss Heinz Hollerweger who said the RS4 will be out "relatively early in the production cycle."
Yesterday we found out from Audi's Technical Development boss Ulrich Hackenberg the new RS4 will lose the V8 4.2-liter naturally aspirated engine to make room for a new V6 3.0-liter turbocharged engine featuring e-turbo technology. He didn't specify an exact power figure but did say it won't be as strong as the 510 PS Mercedes-AMG C63 since "that car has eight cylinders."
Nevertheless, the new RS4 should prove to be a lot quicker than its 450 PS predecessor taking into account it will pack more punch in a lighter body. As a consequence, expect the 0-62 mph (0-100 km/h) to take significantly less than the 4.7 seconds needed by its predecessor and top speed will once again be electronically-limited to 155 mph (250 km/h), but customers will probably have the possibility of paying more to bump up that limiter to 174 mph (280 km/h) or even more.
Until the RS4's arrival, Audi is putting the finishing touches on the S4 due in September at the Frankfurt Motor Show with a turbocharged V6 with more than 355 PS.


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All articles by BRAIN Staff
WILTON, Conn. (BRAIN) — Dorel Sports has promoted Dave Duecker to vice president of product for the Pacific Cycle Group and Milissa Rick to senior director or marketing for the group.
PITTSBURGH (BRAIN) — Nutritional supplement maker Klean Athlete has named seven endurance athletes and two cycling teams from throughout the country to its 2015 Klean Team USA.
BOULDER, Colo. (BRAIN) — TrainingPeaks has entered into a partnership with the National Interscholastic Cycling Association to provide discounted training software and educational content for interscholastic mountain bike team coaches.
SAN MATEO, Calif. (BRAIN) — GoPro has patented a cube-like camera housing that could reshape how its action cameras look.
CLERMONT, Fla., (BRAIN) — Epic Cycles in Central Florida will move to an expanded 10,000-square-foot location on the waterfront in Clermont this summer that will include a full-service shop, coffee and juice café and training studio.
BURBANK, Calif. (BRAIN) — Pure Fix Cycles, the owner of the Pure Fix and Pure City brands, has hired Jamie Murnane to fill the new position of director of digital marketing.
DETROIT (BRAIN) — Detroit Bikes has announced a deal with New Belgium Brewing to produce 2,415 bikes to promote the beer maker's Fat Tire Amber Ale.
LAGUNA HILLS, Calif. (BRAIN) — The latest print edition of Bicycle Retailer & Industry News includes coverage of Interbike's "Manifesto," a document that came out of this winter's IBD Summit in Arizona.
PORTLAND, Ore. (BRAIN) — The Bike Cooperative is adding Nutcase Helmets to its product lineup. The co-op's 330 members will be able to order the helmets and take advantage of the brand's sales incentives and support this spring.
COSTA MESA, Calif. (BRAIN) — Midnight Tuesday is the deadline for bike shops to apply to be considered for the 2015 America's Best Bike Shops awards, a program of the National Bicycle Dealers Association.


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The world’s largest business intelligence firm, Microstrategy, bought another 262 bitcoins worth $15 million and added to its BTC currency assets.
Michael Saylor, CEO of MicroStrategy, has officially announced that his company has bought another $ 15 million in bitcoin. This Microstrategy action shows the continuation of the strategy of reducing the average bitcoin purchase. With the announcement on Monday, it does not appear that the micro-strategy policy in buying bitcoin has changed and the company is still strongly buying this digital currency.
MicroStrategy remains committed to its fiscal policy and immediately converts its cash assets into bitcoins. The institution announced in a statement on Friday that with the purchase of another 262 BTC cryptocurrencies, the total number of bitcoins it owns now stands at 91,326.
Michael Saylor, founder, and director of Microstrategy, also tweeted about the $ 15 million purchase of the institute. While Micro Strategy used to typically add $ 10 million a week to its BTC cryptocurrency assets, the institution was worth $ 15 million worth of Bitcoin purchases this week.
Doubling the value of Microstrategy assets in 7 months
Taking into account 262 units and a value of $ 15 million, it seems that the average recent purchase price of Microstrategy was $ 57,146 per BTC. As a result, the institution now owns 91,326 bitcoins with an average purchase price of $ 24,214.
In other words, Microstrategy has spent $ 2.2 billion on all of its Bitcoin purchases since August 1999, which is now worth $ 5.1 billion, given the rise in the price of the BTC cryptocurrency. In August 1999, while announcing a change in its fiscal and treasury policies and converting the BTC currency code into the company’s main reserve asset, Microstrategy also implemented a Full Node bitcoin node.
The Microstrategy Institute also invested the entire amount raised in Bitcoin by raising capital in two installments through the sale of bonds. The institution last bought 19,425 BTC cryptocurrencies with an average price of $ 52,765 in early March, selling $ 1 billion worth of bonds.


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The union of Chaos and Enscape will form a visualization powerhouse covering several sectors ranging from AEC, VFX, to vertical products.
Global private equity firms TA Associates and LEA Partners today announced an agreement to merge Chaos, a global leader in photorealistic rendering technology, with Germany’s Enscape, a leader in real-time interactive rendering technology for AEC industries.
A complete leader
The merger of the fast-growing AEC-focused Enscape with Chaos, headquartered in Bulgaria, will establish a global leader in 3D visualization workflows for several industries, AEC, industry and retail. product design for the visual effects industry (VFX). segments like cinema, broadcasting and animation.
The new combined company will retain the name of Chaos and Peter Mitev, CEO and co-founder of Chaos, and Christian Lang, CEO of Enscape, will share the title of co-CEO of the new company. Vladimir Koylazov, co-founder of Chaos and current head of software operations, will also continue to lead R&D and innovation in a leadership position.
The amalgamated company will have a combined workforce of 500 employees across the world. The head office of the new merged company will be located in Karlsruhe, Germany, with additional development, support and sales offices in Sofia (Bulgaria), Prague (Czech Republic), Tokyo (Japan), Seoul (Korea) , Los Angeles and New York (United States).
TA Assoc. + LEA Partners
“Enscape has experienced a period of extraordinary growth, overtaking an already rapidly growing market. We are delighted to join forces with Chaos as we seek to expand our scale, recognizing that our businesses are highly complementary and share an end-to-end product vision, ”said Christian Lang. “With the support of LEA and TA, we will significantly increase our investment in growth, technology and people. “
We find that bringing Enscape and Chaos together provides a unique opportunity to build a technological powerhouse to pave the way for AEC and beyond.
TA Associates was founded in 1968 by Peter Brooke in Boston as a private investment firm. In the early 1980s, she opened an office in Silicon Valley and then in 2003 opened her office in London. The company has a solid track record of investing in venture capital in technology companies. LEA Partners is a German-based private equity and venture capital firm.
“Since our initial investment, we’ve worked closely with Enscape’s management team to make the company a premier supplier to the AEC industry, and that’s just the start,” says Christian Roth, Managing Partner at LEA Partners. “We find that the reunion of Enscape and Chaos offers a unique opportunity to build a technological powerhouse to pave the way for AEC and beyond. “
“We have been impressed with the growth, high quality product offerings and loyal customer base of Chaos and Enscape,” said Dandl, principal at TA. “Together, we believe the company can build on its strong momentum to create a global leader in 3D visualization and design workflow space. In partnership with LEA, we are excited to invest in the future of the business by deepening product capabilities and expanding the breadth of offerings and geography.
New executive management
Although financial terms have not been disclosed, TA will join LEA, the current majority shareholder of Enscape, in the new merged company, alongside the management of Chaos and Enscape, which will retain a significant minority stake.
As part of the transaction, Sean Flaherty will also become Chairman of the Board of Chaos. Flaherty was the former chief strategy officer of the Nemetschek Group, one of the world’s largest AEC software conglomerates, and prior to that, the former CEO of Nemetschek’s subsidiary, Vectorworks, Inc. Flaherty was currently chairman of the board of administration of Enscape.
The transaction is subject to customary regulatory approvals and is expected to close in the first quarter of 2022.


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The agreement is based on MAAVi’s biological research and development potential in natural solutions
June 2022 – (ALMERÍA, SPAIN) – MAAVi Innovation Centre of Kimitec, Europe’s largest research centre focused on natural agriculture and one of the world’s largest natural technology hubs for food systems transformation, has announced Bayer is evaluating some Kimitec products. Tests are focused on the potential for future joint research and development of sustainable and effective biological products that leverage Kimitec’s expertise in biostimulants, biopesticides and the soil microbiome.
“This is the first step towards becoming a partner and hub for research and development of new biological techniques and solutions for Bayer. Together, we will move toward a paradigm shift in agriculture with the use of products derived from natural sources,” says Felix Garcia, CEO and Founder of MAAVi Innovation Center and Kimitec.
In line with the objectives of the European Green Pact, Kimitec’s MAAVi Innovation Center focuses on the environmental impact of agriculture while maintaining productivity to support global food security. MAAVi’s research is the starting point for the development of a more sustainable food production system and is currently working to realise the objectives of the Horizon Europe and Farm to Fork programmes.
“MAAVi’s expertise in developing biological solutions that support sustainable futures for agriculture offers a lot of potential,” stresses Benoit Hartmann, Head of Biologicals for Bayer. “We look forward to continuing our evaluations with this agricultural R&D centre.”
About Kimitec’s MAAVi Innovation Center
More than 15 years ago, Kimitec set out to become the alternative to synthetic chemistry-based agricultural products, putting consumer health, environmental friendliness and natural productivity at the heart of the agricultural production system. Today, the company operates in more than 90 countries, with branches in the United States, Brazil, LATAM and China, as well as sales offices in Morocco, Hungary, Turkey, Italy, the Baltic countries, Argentina, India, Russia, Australia and France. In 2019, Kimitec opened its MAAVi Innovation Center, the largest centre dedicated to the research and development of natural molecules and compounds for the agricultural industry in Europe and one of the largest biotech centres for natural agriculture worldwide. MAAVi stands for “Making a Vision” and represents a unique way of producing food with natural solutions, without sacrificing efficiency and productivity, and with a focus on the environment and people’s health. Kimitec is currently working on more than 48 independent research projects, all focused on developing natural, effective, productive and waste-free solutions to the main problems facing the agricultural industry worldwide.


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Amazon's voice-activated speaker/home assistant Echo has only just landed in the UK, and BT customers are already kicking up a fuss over how to connect it to BT's HomeHub router. One customer review on the Echo store page offered this complaint: "As others have already said, it will not connect to internet if you have a BT hub, which it needs to do to work!"Amazon has been quick to address the situation, with a detailed guide on how to connect the Echo to a BT router. It's a seven-step guide that does involve you inputting your IP address and DNS details, so it's far from an easy fix, but it should help the two devices play nicely together.
"We are aware that a small number of customers are currently experiencing issues connecting their Amazon Echo to some BT routers. We are working with BT to resolve this issue as quickly as possible," Amazon said in a statement to CNET.


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FinTech: Fintechs That Could be in Play After the Visa-Plaid Deal
There are too many fintechs out there, but many can’t survive on their own.
A Barron’s analysis of likely deal-making in the fintech sector after the landmark Visa-Plaid deal shows a mixed picture.
According to a banker, too many fintechs had sprouted and were jostling for market share. As of November 11, there were 58 unicorns in the space with an aggregate valuation of $213.5 billion. So there could be a consolidation leading to more deal-making. But this is unlikely to be “an avalanche,” was another view.
Visa-Plaid as catalyst
According to Kathleen Utecht, a managing partner of Core Innovation Capital, the Visa-Plaid deal could work as a catalyst for sales of fintechs to entities across the spectrum, including banks, other fintechs, even non-fintechs.
Fintechs have proved their models and technological premises, but are yet to acquire scale and profitability, says Barron’s. Increasingly, chances are these startups will start to partner the very banks they set out to disrupt or will be acquired by them. Alternatively, other financial companies (as in the Visa-Plaid deal) will take them over.
Marqeta provides API technology that helps companies like Square, Instacart and DoorDash issue cards and process payments for their customers. The last funding round of $260 million in May 2019 valued the company at approximately $2 billion. In October, Visa and Marqeta partnered to offer fintechs in Australia, Hong Kong, Japan, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand, and Vietnam a new way to themselves internationally accepted. Fintechs in these countries can now turn their user account balances into digital cards.
Credit Karma is another startup that may be in play. The firm provides financial education and free credit scores. In aggregate, this startup has raised $868 million to date.
Barron’s thinks Deck Capital is also a likely player in the M&A stakes. The listed company is a lender to small businesses. Its IPO price was $20, but Deck Capital currently trades at $4.15. Its options are to sell itself or make a strategic purchase. Alternatively, it may also buy a small bank.
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