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- Klaus Engel, Chairman of the Executive Board: "We are stepping up cost discipline but sticking to our growth plans"
- Operating performance in H1 2013 below very good prior-period result:
- Group sales of €6.5 billion reflect slight organic decline on price grounds despite continued good volume trend
- Operating results well below very high levels of H1 2012
- Adjusted EBITDA margin slipped to 16.5 percent
- Action to raise efficiency and cut costs stepped up
- Outlook for 2013 revised: sales around the previous year's level; operating results below the very good year-back level
Essen. "In a challenging global economic environment, Evonik's business performance in the second quarter was weaker than expected. While volumes increased slightly, earnings were lower, mainly due to declining prices," explained Klaus Engel, Chairman of the Executive Board of Evonik Industries AG, today, when the company published its key financial data on the first half and second quarter of 2013. "We are sticking to our growth plans despite the present development. In the short term, growth will be supported by increased cost discipline and continued systematic implementation of the On Track 2.0 efficiency program." Looking ahead to the second half of the year, the company assumes that prices will stabilize at the present level, while sales volumes should be slightly higher than in the prior-year period. Overall, Evonik expects sales in 2013 to be around the same level as in 2012 at about €13 billion, and to report adjusted EBITDA of around €2.0 billion (2012: €2.4 billion).
Business performance in H1 2013
In the first half of 2013 there was an organic decline of 3 percent in Group sales due to lower selling prices (-4 percent), while volumes increased slightly (+1 percent). Overall, Group sales decreased 5 percent to €6,526 million (H1 2012: €6,835 million) due to the divestment of two small businesses in 2012.
In the first half of 2013 the operating results were below the very high prior-year figures, principally as a result of lower selling prices for some key products and the scheduled shutdown of integrated production facilities in the Specialty Materials segment for maintenance work. Overall, adjusted EBITDA declined by 16 percent to €1,079 million (H1 2012: €1,289 million) and adjusted EBIT fell 21 percent to €787 million (H1 2012: €995 million). The adjusted EBITDA margin slipped from 18.9 percent to 16.5 percent.
Successful divestment of the real estate business
Evonik has made considerable progress with its focus on specialty chemicals, and has successfully divested the activities bundled in its Real Estate segment. Having combined the management of the residential real estate of Vivawest GmbH and THS GmbH effective January 1, 2012, Vivawest and THS have now been combined with a stable new ownership structure. Following completion of all transactions at the start of July 2013, RAG-Stiftung now holds 30.0 percent of Vivawest, IG BCE 26.8 percent, Evonik Pensionstreuhand e.V. 25.0 percent, and RAG Aktiengesellschaft 7.3 percent. Evonik plans to divest its remaining 10.9 percent stake to long-term investors in the intermediate term.
Further improvement in efficiency; cost discipline stepped up
Good progress is being made with the efficiency enhancement program On Track 2.0. In the first half of 2013 Evonik achieved further savings of a good €50 million. Together with the cost reductions made in 2012, just 18 months after the launch of this program the company has already leveraged nearly €200 million of the planned annual savings of €500 million.
Evonik is driving forward the measures to raise efficiency introduced as part of On Track 2.0. In view of present global economic conditions, which are set to remain challenging in the second half of 2013, Evonik has also set up a cost management project to identify potential short-term savings that can be realized immediately. This is focusing on non-operating units.
Outlook for 2013 revised
Evonik now expects the improvement in the global economy predicted for the second half of the year to be less pronounced than had been assumed at the start of the year, principally because of the sovereign debt crisis and its impact on Europe, and far lower economic growth in China. Accordingly, the company now assumes that the global economic conditions for 2013 as a whole will be worse than previously forecast. Since the first half was weaker than expected and economic growth forecasts for the second half of the year have been reduced, Evonik is altering its outlook for the full year.
In view of the reclassification of the Real Estate segment to discontinued operations in March 2013 and the upcoming deconsolidation of these operations in the third quarter of 2013, the following comments only refer to the continuing operations. The corresponding figures for 2012 have been restated.
Evonik anticipates a slight year-on-year improvement in volumes in the second half of 2013 and assumes that selling prices will stabilize at the present level. Overall the Group now expects sales in 2013 to be around the same level as in the previous year at around €13 billion, and the operating results to be below the very good 2012 levels. Evonik assumes that adjusted EBITDA will be around €2.0 billion (2012: €2.4 billion).
As part of its growth strategy, Evonik is continuing its investment program of over €6 billion between 2012 and 2016. Flexibility in the realization of this program enables it to scale back the budget for capital expenditures this year from €1.5 billion to €1.2 billion and to spread it over an extended time period. In principle, in view of changes in market conditions for the coming years, projects that have not yet commenced will be reviewed and their starting dates may possibly be postponed.
Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms. Evonik is active in over 100 countries around the world. In fiscal 2012 more than 33,000 employees generated sales of around €13.6 billion and an operating profit (adjusted EBITDA) of about €2.6 billion.
Evonik Industries has been producing specialty chemical products in the Greater China region (Mainland China, Hong Kong and Taiwan) since the late1970’s; with wide-ranging trading relations already in place prior to this in the region. Evonik regards Greater China as one of the driving forces of the global economy and we consequently endeavour to grow our business in the region. The company now has around 3,500 employees in the Greater China region, the regional sales reached over 1 billion in 2012.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.


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Japanese europe dating
Major brands like the Star Wars film franchise, Bank of Scotland, Mango clothing and the BBC have had issues with disputed domain names.In 2015, Lucasfilm - the company behind the billion-dollar Star Wars franchise - successfully argued a British fancy dress firm was using the film's "pulling power" to sell items through a 'uk' website.
Environment Secretary Roseanna Cunningham said the species would have to be actively managed, but work had begun to add the rodents to the country's list of protected species as soon as possible.Verdict: Worth a shot, if only to kill time answering bizarre questions about yourself. Cons: A high number of sexually frustrated virgin-trolls means a lot of women find using it a harrowing experience, which understandably makes them cagey when you come along.It's disheartening how many women have to resort to 'please no sex pests' appendixs on their profile information.It will be the first time a mammal has been officially reintroduced to the UK. In 2015, a total of 728 complaints were made to domain registry organisation Nominet, which offers a "domain resolution" service.Users in the UK had the highest number of complaints over the '.uk' suffix with 74 per cent of the total cases coming from British companies.

domain: news


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Investor ContactBrendon FreyICR Brendon.Frey@icrinc.com 203-682-8200
PARK CITY, Utah, Aug. 08, 2016 (GLOBE NEWSWIRE) -- Skullcandy, Inc. (Nasdaq:SKUL) announced today that the Company will report second quarter 2016 financial results on Tuesday, August 9, 2016 via a press release issued after the market closes. About Skullcandy: Skullcandy, Inc. creates world-class audio experiences through its Skullcandy® and Astro Gaming® brands. Founded at the intersection of music, sports, technology and creative culture, Skullcandy brand creates world-class audio and gaming products for the risk takers, innovators, and pioneers who inspire us all to live life at full volume. From new innovations in the science of sound and human potential, to collaborations with up-and-coming musicians and athletes, Skullcandy lives by its mission to inspire life at full volume through forward-thinking technologies and ideas, and leading edge design and materialization. ASTRO Gaming creates premium video gaming equipment for professional gamers, leagues, and gaming enthusiasts. ASTRO Gaming was founded in the pits of competitive gaming and has become synonymous with pinnacle gaming experiences. Skullcandy and Astro Gaming products are sold and distributed through a variety of channels around the world from the Company's global locations in Park City, San Francisco, London, Tokyo, Zurich, Mexico City, and Shanghai, as well as through partners in some of the most important culture, sports, and gaming hubs in the world. The Skullcandy brand website can be found at http://www.skullcandy.com. The Astro Gaming website can be found at http://www.astrogaming.com.


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By JOEL Katz, Managing Director CLIA Australasia
In recent days we’ve seen further important progress as the cruise industry works towards recovery around the world.
Ships have set sail in the United Kingdom for the first time in over a year. Cruising has resumed for the northern summer in other parts of Europe.
US President Joe Biden has signed legislation that paves the way for cruising in Alaska, and health regulators have given approval for the first sailings to begin from Florida.
On our own side of the world, Hong Kong has approved sailings within a local bubble in a similar style to existing operations in Taiwan and Singapore.
All of which provides yet more evidence that cruising can resume in a responsible and carefully controlled way, and that the cruise industry’s extensive new health measures are working.
Yet, in Australia and New Zealand, we still face uncertainty while there is no clear timeline for resumption.
To help support our ongoing lobbying efforts, CLIA recently launched its Ready, Set, Sail campaign which has prompted more than 30,000 emails to Members of Parliament.
Each one represents an unmistakable message of support for a domestic cruise resumption, and with such a fantastic response there can no longer be any doubt about the size and passion of our cruise community.
These messages provide an insight into the lives of tens of thousands of Australian people who make up the cruise economy and who have been devastated by its suspension, including travel agents.
If you haven’t already joined the campaign, we encourage you to act now. CLIA has created an online tool at www.ReadySetSail.com.au that allows you to message politicians quickly and easily.
We’re grateful for the incredible support we’ve received. With the success we’re seeing overseas, and the growing momentum at home, our case for resumption is stronger than ever.


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(CapitalWatch, Nov. 22, New York) Starbucks' rival in China, Luckin Coffee Inc. (OTC: LKNCY), which has been recovering from its scandalous downfall in 2020, released its third-quarter report Tuesday, showing 66% revenue growth and expansion to nearly 8,000 locations.
The company said in a statement today that revenue in the three months through September reached $547.5 million. It also booked an operating income of $82.3 million in contrast to operating loss of $940,000 in the same period a year ago.
By the end of Q3, Luckin counted 7,846 stores in China, of which 5,373 were self-operated stores and 2,473 were partner-operated. Revenue from partner stores made up 23% of the net total. The number of average monthly customers increased 71% year-over-year to 25.1 million, according to the report.
Net income in the September quarter was $74.3 million, or 24 cents per share. That figure includes a one-time non-cash gain of $17.5 million related to the senior notes extinguishment and stands in stark contrast to the large losses the company logged as it battled the consequences of its fraud scandal.
The case, called on by several short-sellers in early 2020, tanked Luckin's market value and forced it to delist from the Nasdaq by mid-year – in January of the same year, the stock had risen over $50 per share.
The company confirmed to have inflated its sales in 2019, the year it celebrated its $561 million IPO in New York. Its top executives, including the founder and chairman, got booted, and Luckin paid fines to both the U.S. Securities and Exchange Commission and to Chinese regulators.
Since, Luckin has been led by a new chairman and chief executive, Jinyi Guo. After he took the reins and pledged to regain investors' trust, Guo had to fight for his seat in an internal conflict against the former executives.
So far, Guo seems to have taken control of both situations – the internal conflict and Luckin's push out of mistrust. Year-to-date, OTC-traded shares of Luckin are up 84%, at $17.99 apiece. To compare, in the middle of Luckin's scandal in the spring of 2020, its market value fell below $2 a share. And Guo is issuing optimistic forecasts:
"During the last two years, we have rebuilt our teams across the organization, bringing in some of the industry's top talent," he said in the statement today.
"I am exceptionally proud of the dedication from everyone at Luckin Coffee, as we continue to solidify our position as a world-class coffee brand. Furthermore, the release of our 2020-2022 corporate governance report showcased our determination to create both customer value and social value and laid a solid foundation for the long-term sustainable development of Luckin Coffee."
On the downside, Luckin said in its report today that Covid-related store closures are expected to continue in the months ahead and will negatively impact the company's performance.
Luckin showed that its losses and expenses related to the fraud case of 2020 decreased by 88% to $1.3 million in the third quarter since the company "successfully completed its provisional liquidation in March 2022 and substantially resolved all outstanding litigations." These expenses in the third quarter were for legal fees for U.S. securities litigations and other advisory service fees.
Luckin Coffee has become China's largest coffee chain despite its troubles. It has long achieved its pre-IPO milestone of outnumbering Starbucks (Nasdaq: SBUX) in China – the latter celebrated its 6,000th China store opening in late September.
Still, competition is intense among coffee retailers in China's market – recently, the Chinese branch of Canadian coffee chain Tim Hortons (Nasdaq: THCH) partnered with e-commerce titan Alibaba Group (NYSE: BABA; HKEX: 9988) to bring coffee products to millions of users of Alibaba's online marketplaces. Also backed by tech giant Tencent Holdings (HKEX: 0700; OTC: TCEHY), Tim Hortons China is growing its presence fast and expects to open 2,750 stores in the country by 2026.


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GÖTTINGEN, Germany — The European Union was anticipated to finalize this week one of many world’s most far-reaching legal guidelines to handle the ability of the largest tech corporations, setting up guidelines that may have an effect on app shops, internet advertising, e-commerce, messaging providers and different on a regular basis digital instruments.
The legislation, known as the Digital Markets Act, could be essentially the most sweeping piece of digital coverage for the reason that bloc enacted the world’s toughest rules to protect people’s online data in 2018. The laws is aimed at stopping the most important tech platforms from utilizing their interlocking providers and appreciable sources to field in customers and squash rising rivals, creating room for brand new entrants and fostering extra competitors.
What which means virtually is that corporations like Google may now not gather information from totally different providers to supply focused adverts with out customers’ consent and that Apple might need to permit options to its App Store on iPhones and iPads. Violators of the legislation, which might possible take impact early subsequent 12 months, may face important fines.
The Digital Markets Act is a part of a one-two punch by European regulators. As early as subsequent month, the European Union is predicted to succeed in an settlement on one other legislation that will drive social media corporations equivalent to Meta, the proprietor of Facebook and Instagram, to police their platforms extra aggressively.
With these actions, Europe is cementing its management as essentially the most assertive regulator of tech corporations equivalent to Apple, Google, Amazon, Meta and Microsoft. European requirements are sometimes adopted worldwide, and the most recent laws additional raises the bar by probably bringing the businesses below a new era of oversight — similar to well being care, transportation and banking industries.
“Faced with big online platforms behaving like they were ‘too big to care,’ Europe has put its foot down,” mentioned Thierry Breton, one of many high digital officers within the European Commission. “We are putting an end to the so-called ‘Wild West’ dominating our information space. A new framework that can become a reference for democracies worldwide.”
On Thursday, representatives from the European Parliament and European Council had been working behind closed doorways in Brussels to strike a last deal. Their settlement would come after about 16 months of talks — a speedy tempo for the E.U. forms — and would set the stage for a last vote in parliament and amongst representatives from the 27 nations within the union. That last approval is considered as a formality after this week’s deal is struck.
Europe’s strikes distinction with the shortage of exercise within the United States. While Republicans and Democrats have held a number of high-profile congressional hearings to scrutinize Meta, Twitter and others in recent times, and U.S. regulators have filed antitrust instances towards Google and Meta, no new federal legal guidelines have been handed to handle what many see because the tech corporations’ unchecked energy.
Europe’s new guidelines may supply a preview of what’s to come back elsewhere on this planet. The area’s 2018 privateness legislation, the General Data Protection Regulation, which restricts the net assortment and sharing of private information, has served as a mannequin in nations from Japan to Brazil.
The path of the Digital Markets Act confronted hurdles. Policymakers handled what watchdogs mentioned was one of many fiercest lobbying efforts ever seen in Brussels as business teams tried to water down the brand new legislation. They additionally brushed apart considerations raised by the Biden administration that the principles unfairly focused American corporations.
Questions stay about how the brand new legislation will work in apply. Companies are anticipated to search for methods to decrease the legislation’s impression via the courts. And regulators will want new funding to pay for his or her expanded oversight duties at a time when budgets are below pressure from the pandemic.
“The pressure will be intense to show results, and fast,” mentioned Thomas Vinje, a veteran antitrust legal professional in Brussels who has represented Amazon, Microsoft and Spotify.
The Digital Markets Act is predicted to use to so-called gatekeeper platforms with a market worth of greater than 75 billion euros, or about $82 billion, which incorporates Alphabet, the proprietor of Google, and YouTube, Amazon, Apple, Microsoft and Meta.
Specifics of the legislation learn like a want listing for rivals of the largest corporations.
Apple and Google, which make the working programs that run on practically each smartphone, could be required to loosen their grip. Apple would possible have to permit different app shops for the primary time. The legislation can also be anticipated to let corporations equivalent to Spotify and Epic Games use different cost to Apple’s within the App Store, which costs a 30 p.c fee.
On Android units, Google would possible have to provide prospects choices to make use of other email and search services on handsets in Europe, much like what it has already been doing in response to a earlier E.U. antitrust judgment. On Wednesday, Google announced that Spotify and another app builders could be allowed to supply different cost strategies to Google’s inside its app retailer.
Amazon is predicted to be barred from utilizing information collected from exterior sellers on its providers in order that it may supply competing merchandise, a apply that’s the topic of a separate E.U. antitrust investigation. Meta additionally may possible not gather information about rivals to develop rival providers.
The legislation may lead to main adjustments for messaging apps. WhatsApp, which is owned by Meta, could possibly be required to supply a manner for customers of rival providers like Signal or Telegram to ship and obtain messages to someone utilizing WhatsApp. Those rival providers would have the choice to make their merchandise interoperable with WhatsApp.
The largest sellers of internet advertising, Meta and Google, would possible be restricted from providing focused adverts with out consent. Offering adverts based mostly on information collected from individuals as they transfer between YouTube and Google Search, or Instagram and Facebook, is immensely profitable for each corporations.
Policymakers had been additionally contemplating together with a provision that would give publishers in Europe the flexibility to barter new compensation with Google and Meta for articles posted on their platforms. A showdown over this concern in Australia briefly led Facebook to cease letting information group submit articles contained in the nation.
Meta and Amazon declined to remark. Google, Apple and Microsoft didn’t instantly reply to requests for remark.
Anu Bradford, a Columbia University legislation professor who coined the time period “Brussels Effect” in regards to the affect of E.U. legislation, mentioned European guidelines typically turn into international requirements as a result of it’s simpler for corporations to use them throughout their total group somewhat than one geography.
“Everyone is watching the D.M.A., be it the leading tech companies, their rivals, or foreign governments,” mentioned Ms. Bradford, referring to the Digital Markets Act. “It is possible that even the U.S. Congress will now conclude that they are done watching from the sidelines when the E.U. regulates U.S. tech companies and will move from talking about legislative reform to actually legislating.”
President Biden has appointed Lina Khan, a distinguished Amazon critic, to guide the Federal Trade Commission, and a lawyer vital of the tech giants, Jonathan Kanter, to move the antitrust division of the Department of Justice.
But efforts to alter American antitrust legal guidelines have moved slowly. Congressional committees have accepted payments that will cease tech platforms from favoring their very own merchandise or shopping for smaller corporations. It is unclear whether or not the measures have sufficient help to move the total House and Senate.
European regulators at the moment are confronted with implementing the brand new legislation. G.D.P.R. has been criticized for lack of enforcement.
The European Commission, the manager department of the bloc, can even have to rent scores of recent workers to research the tech corporations. Years of litigation are anticipated as corporations mount courtroom challenges of future penalties issued on account of the brand new legislation.
“The gatekeepers,” mentioned Mr. Vinje, the Brussels antitrust lawyer, “will not be entirely without defenses.”
David McCabe contributed reporting from Washington.


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Durban (Zulu:eThekwini, from itheku meaning "bay/lagoon") is the largest city in the South African province of KwaZulu-Natal. After Johannesburg, the Durban Metropolitan Area ranks second among the most populous urban areas in South Africa, virtually ex-aequo with Cape Town. It is also the second most important manufacturing hub in South Africa after Johannesburg. It forms part of the eThekwini Metropolitan Municipality. Durban is famous for being the busiest port in South Africa. It is also seen as one of the major centres of tourism because of the city's warm subtropical climate and extensive beaches. The municipality, which includes neighbouring towns, has a population of almost 3.5million, making the combined municipality one of the biggest cities on the Indian Ocean coast of the African continent. The metropolitan land area of 2,292 square kilometres (885sqmi) is comparatively larger than other South African cities, resulting in a somewhat lower population density of 1,513/km2 (3,920/sqmi). It has the highest number of dollar millionaires added per year of any South African city with the number rising 200% between 2000 and 2014.
Cannabis is mostly used recreationally or as a medicinal drug. It may also be used as part of religious or spiritual rites. In 2013, between 128 and 232 million people used cannabis (2.7% to 4.9% of the global population between the ages of 15 and 65). In 2015, almost half of the people in the United States have tried marijuana, 12% have used it in the past year, and 7.3% have used it in the past month.
Durban, Richards Bay, Pretoria21st Floor, Durban Bay House... As could be expected, busy times between the region’s coastal area and the inland area differ markedly, with the ports in both Durban and Richards working round the clock throughout the year, while the inland waterways areas only ever get really busy in the autumn season.
Kaunda, speaking at the launch on Durban beachfront, said the city is “open for business”, its beach waters are safe and swimming pools open and that it has procured an additional 62 Metropolitan Police vehicles that will patrol the city to keep tourists and locals safe during the holidays. “eThekwini is open for business.
“We have heard forecasts that it could take up to three months to clear vessels that are currently anchored at the Port of Durban,” Thomas said ... Speaking to BusinessReport yesterday, XA GlobalTrade Advisors CEODonald McKay said he had a number of clients who had goods stuck on vessels outside the Port of Durban ... BUSINESS REPORT .
PresidentCyril Ramaphosa’s spokesperson Vincent Magwenya has confirmed that Cabinet is discussing the crisis in the ports and rail as Transnet buckles under pressures, with thousands of containers stuck at sea off the ports of Cape Town, Richards Bay and Durban... Ramaphosa was working closely with business to ramp up growth in the economy.
The NelsonMandela Bay BusinessChamber has warned that the logistics crisis at DurbanPort was having a knock-on effect and impacting upon the sustainability of imports and exports in Gqeberha ... The Nelson Mandela Bay Business Chamber, which has around 700 member businesses, on ...
More than 60,000 containers are stuck at sea waiting to be offloaded at South Africa's biggest port amid gridlock blamed on bad weather and equipment failures that is damaging the poor economy, according to business and political groups ... But the DA and business groups said the crisis has been long in the making.�.
Addressing members of the BlackBusinessFederation (BBF) during an ANC stakeholders engagement event in Durban on Saturday evening, Ramaphosa said while the government welcomed the fact that some of the members of the business forums were now using legitimate channels to access ...
Durban is the main artery of our economy and we need to ensure that it works perfectly.”. He said that he had listened to concerns by business and many other civil society organisations to fix the ports to prevent the collapse of the economy ... His speech in Durban comes after his ...
CitadelGlobal director and treasury partner Bianca Botes said the crisis at the Port of Durban port significantly heightened the challenges for importing and exporting businesses ... “Given the evolving situation, businesses should enhance their contingency plans ... BUSINESS REPORT .
This sentiment was expressed by the business sector as it contemplated the path ahead ... Palesa Phili, the CEO of the DurbanChamber of Commerce and IndustryNPC, said, "As organised business, we have closely monitored the situation ... This is unacceptable, businesses must bear the brunt of these delays.“ ... BUSINESS REPORT .
Transnet has warned that it would take until around February or March 2024 to clear the backlog affecting the docking and offloading of container vessels that are clogged up at its Port of Durban as a short-term intervention ... of Durban and offload the containers ... BUSINESS REPORT .
This has raised the ire of business, including the South AfricanAssociation of Ship Operators and Agents (Saasoa), which said some containers had been delayed by weeks in some ports because of the equipment failures ... a plan to turn around the business and ensure ... BUSINESS REPORT .


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Labor & Economic News Blog
Monday, July 27, 2015
‘Sea Slaves’: The Human Misery That Feeds Pets and Livestock
Tuesday, July 14, 2015
SCOTUS Comes Calling on Public Sector Unions
A case that could decimate public sector unions is now headed to the Supreme Court.
Why It Pays to Be a Jerk
Immigration Means Higher Wages for All Workers - CityLab
Wal-Mart sued over denying health insurance to gay worker's wife
Nearly every job in America, mapped in incredible detail
A New Look at Apprenticeships as a Path to the Middle Class
Monday, July 13, 2015
Starbucks and Other Corporations to Announce Plan to Curb Unemployment of Young People
American Apparel to close underperforming stores, lay off workers
The Los Angeles clothing maker would not disclose the number of stores or jobs that will be cut. It also did not say whether the layoffs, which will begin immediately, will affect its manufacturing workers, its retail employees or both. But a source close to the company said most of the layoffs would affect jobs at corporate headquarters and at stores.
Wal-Mart, other companies join Starbucks drive to hire young workers
Starbucks Corp. is leading more than a dozen companies in an effort to hire 100,000 young workers with “systemic barriers to jobs and education” in the next three years.
CalPERS misses its target return by a wide margin
The California Public Employees' Retirement System said its fund returned just 2.4% on its investments for the year ended June 30, a huge miss from its 7.5% investment target and a worrisome result for California taxpayers who must make up for any shortfalls in funding pensions.
Commander’s Firing Stirs Debate on Marines’ Integration
Growth in the ‘Gig’ Economy Fuels Work Force Anxiety
Friday, July 10, 2015
Why a Meaningful Boost for Those at the Bottom Requires Help From the Top


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The world’s largest mobile phone maker Nokia continues its evolution into an internet-services company by announcing the acquisition of location-based social network Plazes, a startup based in Zurch and Berlin. Plazes, a company employing just 13 people, provides a social network in which users can plan, record and share social activities based on their locations. Financial details of the deal were not disclosed.
This deal represents another in a raft of recent deals for Nokia over the past year that illustrate the company’s wish to evolve into a service-based firm. Twango, EnPocket, LoudEye, and mapping company Navteq have all been bought by the Finnish company as it adapts to a mobile market that is increasingly focused on entertainment services. Nokia realises that it has to change its strategy if it is to remain at the top of the mobile sector (which it currently dominates with a 39% global market share). Rival Motorola, for example, is struggling to simply meet handset delivery targets, and Nokia knows it must transform into a next-generation vendor to avoid a similar fate.
The company has taken recent steps to kick-start this evolution. For example, it has set up internet service and online music store Ovi last August, a move intended presumably to compete with Apple’s iTunes offering. Now Nokia is making a bold move into the hot sphere of social networking, positioning itself as a promoter of this trend, along with photo and video sharing and games for its consumers. Nokia predicts that 25% of time spent using smartphones will be devoted to entertainment over the next five years, so naturally the firm wants to provide the services related to it.
This deal is in line with Nokia’s strategy of acquiring companies that allows the handset maker to own key content intermediaries and content providers; acquiring social media firms such as Plazes will beef up Nokia’s brand performance across the mobile internet space. But this strategy comes with several challenges. Mobile media content management is a complex issue – transferring software applications across to the mobile space will be difficult in the medium term. Evidence currently shows that porting such applications is costly, and this, coupled with the process of securing compliance with European content certification laws, means that the merger will not be without its snags.
Finally I expect to see more such forays into the social media sphere by handset makers. Danish startup ZYB was acquired by rival Vodafone in May, Nokia has responded by buying Plazes – who will be next?


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The change in law follows the cutting of diplomatic relations and borders with Qatar, who the Saudi Kingdom this week accused of supporting ISIS.
According to Sky Italy, Saudi authorities have said those caught wearing shirts with the Qatar Airways wording now face €135,000 euro fine and up to 15 years in prison.
A similar ban could now follow in United Arab Emirates, Egypt, Yemen.
Barcelona are, however, switching shirt sponsors to Japanese online retailer Rakuten from the 2017/18 season for four years.
Paris Saint-Germain was also affected as the Ligue 1 club’s Qatari owners have a shirt sponsorship deal with Emirates.
But the French club, who have two more seasons with Emirates, told Le Parisien: “It will have no effect on the club, there is no worry.”


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OTTAWA – Watch out, mock maple syrup makers: it’s about to get a lot harder to pass off a knockoff as the bona-fide Canadian breakfast-table staple.
After nearly a decade of talks among governments, food regulators and the industry, new rules are being adopted across North America to ensure consumers have a better idea of what kind of maple syrup they’re buying.
The changes, which will come into effect over the next two years, will harmonize the grading system for maple syrup produced in Canada and the United States.
The Canadian Food Inspection Agency is also adopting a new system for classing pure maple syrup by colour.
And labels will include new “flavour descriptors” so consumers can get a better idea of how the various shades of syrup are likely to vary in taste.
Sen. Nancy Greene Raine says the new regulations will also help marketers of pure maple products crack down on fraudsters who sell maple syrup that is often little more than flavoured sugar water.


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Colorado had more than 19,000 unemployment claims last week and that’s a 737% increase from the previous week as businesses laid off workers amid the coronavirus economic shutdown.
The state labor department reports that there were more than 25,000 claims last week. That’s up from 1,325 the previous week. Gov. Jared Polis shuttered thousands of non-essential businesses including ski resorts in peak season and banned on in-house service at thousands of restaurants and bars.
The measures are designed to reduce the coronavirus transmission rate and accelerated Colorado’s unemployment claims, especially in the food and hospitality


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“We are pleased with our second quarter performance overall, and we’re focused on continuing our momentum as we move into the second half of the year,” said Glenn Murphy, chairman and chief executive officer of Gap Inc.
Net sales for the second quarter, which ended August 3, 2013, were $3.87 billion compared with $3.58 billion for the second quarter last year. In addition, net sales for the four-week period ended August 3, 2013 were $1.12 billion compared with net sales of $1.06 billion for the four-week period ended July 28, 2012.
Due to the 53rd week in fiscal year 2012, comparable sales for July 2013 and the second quarter of fiscal year 2013, respectively, are compared to the four-week and 13-week periods ended August 4, 2012.
On this basis, Gap Inc.’s comparable sales for July 2013 were up 1 percent compared with a 10 percent increase for July 2012, and the company’s second quarter comparable sales were up 5 percent compared with a 4 percent increase in the second quarter last year.
July Comparable Sales Results
Comparable sales by global brand for July 2013 were as follows:
- Gap Global: positive 7 percent versus positive 10 percent last year
- Banana Republic Global: negative 1 percent versus positive 8 percent last year
- Old Navy Global: negative 5 percent versus positive 12 percent last year
Second Quarter Comparable Sales Results
Comparable sales by global brand for the second quarter of fiscal year 2013 were as follows:
- Gap Global: positive 6 percent versus positive 3 percent last year
- Banana Republic Global: negative 1 percent versus positive 6 percent last year
- Old Navy Global: positive 6 percent versus positive 3 percent last year
Second Quarter Guidance
The company expects diluted earnings per share for the second quarter of fiscal year 2013 to be in the range of $0.62 to $0.64. This compares to diluted earnings per share for the second quarter of fiscal year 2012 of $0.49.
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Former Pakistan Super League Champion Zalmi, has received another great honor. American company Nielsen have officially declared for the second year in a row, that Peshawar Zalmi is the Most Valuable Brand in the Pakistan Super League 3rd Edition.
In addition to this, they also declared Haier as the most impressive shirt logo, along with all Zalmi-related sponsors for the second time as well. Pakistan Super League’s and Pakistan’s most popular sports brand Peshawar Zalmi once again has won the rank position in brand value.
The American company, Nielsen, gave Peshawar Zalmi the honor of being the most popular and valuable brand of Pakistan Super League 3rd edition by carefully assessing the brand for its superb branding, media and social media campaigns. If we fast-rewind to last year, Nielsen had declared the former champs of PSL number one last year as well.
World's most famous independent media expert company@Nielsen has confirmed @PeshawarZalmi as the ‘Biggest Brand Competing in #HBLPSL’ for the 2nd consecutive year.#ZalmiNumberOne pic.twitter.com/aHX2UURcpQ
— PeshawarZalmi (@PeshawarZalmi) July 3, 2018
According to Nielsen, Peshawar Zalmi has performed exceptionally well on all metrics related to brand value on media and social media and this has led Peshawar Zalmi to become the best franchise of Pakistan Super League for the second time in a row. Nielsen also mentioned that Peshawar Zalmi Fans are the highest in number as compared to other PSL franchises. Peshawar Zalmi title sponsor Haier is the most prominent and prestigious brand in terms of Pakistan logo shirt.
Javed Afridi, chairman of Peshawar Zalmi and Zalmi Foundation, said that the Peshawar Zalmi team thanks the players and all the fans, for being a part of our journey on becoming the best franchise.
Mr. Afridi again expressed his determination that the #BringBackSmiles project will be achieved through cricket in KP Pakistan, and we will also extend beyond cricket through other activities in this region.
He said that his wish is that in the fourth season of PSL, Peshawar Zalmi plays a few matches in Peshawar, which is their home ground and the fans get to witness their heroes live in front of their eyes.


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20 May 2021
Ukraine recently lifted safeguard duty on wire products from Indonesia, giving wider opportunities for domestic manufacturers to export the products to the eastern European country.
The Ukrainian government decided to exempt Indonesia from the safeguard duty after extensive investigation into the issue since July 2020, following complaints from Ukrainian business players that the massive wire imports have disadvantaged them.
Ukrainian Department of Foreign Economic Activity and Trade Protection imposed 23.5 percent in safeguard duty on wire products from foreign countries, except products from Indonesia and other developing countries whose import share was below 3 percent.
The wire products include insulated wires, fibre optic wires and other insulated wire and conductor products.
Trade Minister Muhammad Lutfi welcomed the decision on Tuesday, 18 May 2021, saying it would provide opportunity to Indonesian wire producers to export their products to Ukraine.
“The government welcomes the Ukrainian government’s decision to exempt Indonesian wire products from the safeguard import duty. Of course, this will open and broaden market access to Ukraine,” said Lutfi.
Likewise, acting director general for foreign trade Indrasari Wisnu Wardana said Indonesian exporters could use the opportunities maximally and wisely. “This should become a momentum for Indonesian exporters to increase exports given the fact that safeguard duty was imposed on other countries,” he said.
According to the ministry data, Indonesia’s wire product export to Ukraine in 2018-2020 was only at US$206 million while in fact the Ukraine’s wire product demand stood at $776.43 million in the same period.
Wisnu said he hopes Indonesian exporters can seize the opportunity so that exports to Ukraine, which is a non-traditional market, can grow. Eventually, the bigger export would drive national economic growth during the pandemic.
Trade Ministry’s director for trade safeguard Pradnyawati also welcomed the decision, saying Indonesia had been cooperative during the Ukraine’s investigation. “We have been cooperative during the investigation by submitting written explanation to the Ukrainian authority,” she added.
Statistics Indonesia (BPS) recorded Indonesia’s wire product exports, particularly fiber optic wires, surged 19.51 percent in the past five years, from US$2.59 million in 2016 to $4.37 million in 2020.
The largest export value was recorded at $9.08 million in 2019. Major export destinations for Indonesian fiber optic wires are Japan, Malaysia, Philippines and Singapore.


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‘Fair Trade’ might not be so fair
New research has found buying ‘Fair Trade’ coffee is not really helping the very poor.
By comparing living standards in Fair Trade-certified producing areas in Ethiopia and Uganda with similar non-Fair Trade regions, four development economists found that Fair Trade agricultural workers often earned lower incomes.
Our reporter Victoria Knauff investigates.
More by Panorama
Across two packages, reporter Anneliese Farrer investigates the “housing bubble” phenomenon with Dr. Ilan Wiesel, Senior Lecturer of Global Urbanisation at the […]


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GameStop CEO George Sherman to step down
Move will occur upon appointment of successor
GameStop CEO George Sherman will step down on July 31 or earlier, the company announced Monday.
The move will occur upon the appointment of a successor.
"GameStop appreciates the valuable leadership that George has provided throughout his tenure," Ryan Cohen, the incoming board chairman, said in a statement. "He took many decisive steps to stabilize the business during challenging times. The Company is much stronger today than when he joined."
Shares of the video-game retailer were up more than 6% in premarket trading on the news.
The board has made changes to its executive leadership to adjust to a changing business model in recent months.
In mid-January, GameStop Corp. added Cohen and two of his former colleagues from Chewy to its board after Cohen had pressed the retailer to focus on its online operations. That move contributed to the stock's meteoric rise. Shares have given up some of their over-the-moon gains since the big runup in late January, but are still up more than 800% this year.
GameStop's business has been floundering over the past decade with the rapid shift toward downloading games. That shift threatened the existence of GameStop and its shares had been more than halved, to $20 each, by the beginning of this year. But GameStop has been swept up in a battle between big-moneyed hedge funds betting against it and small investors trying to prop it up. That has caused GameStop’s share price to soar despite the shaky financials underneath.
The Associated Press contributed to this report.


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According to a post on The Microsoft Surface Blog by General Manager Brian Hall, the Surface family of products will make it’s way to a large amount of new localities. The version of Microsoft’s tablet will launch in Malaysia on April 25th, Mexico at the end of May, and Korea and Thailand in June. The new markets, will bring the total number of markets the Surface RT is available in to 29.
The Surface Pro will be making it’s way to Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Luxembourg, New Zealand, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom by the end of May. Currently the Surface Pro is available in China, Canada, and the United States
There are still no definite sales numbers for the Microsoft Surface family of devices. Microsoft first introduced the Surface and Surface Pro at an event this past June.


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The EU, Japan and 11 countries (the Ottawa Group) have launched an initiative to minimize protectionist trade measures relating to medical supplies. The move, set to be submitted to the WTO this week, would "withdraw or end any trade-restrictive measures introduced in response to COVID-19 as quickly as possible." Without a sign-up by the U.S. and China, there is unlikely to be widespread adoption of the recommendations, however.
The action is much needed given the widespread use of medical protectionism in relation to export restrictions, including those imposed by the EU early in the pandemic, as discussed in Panjiva's July 17 research. The resurgence of cases ahead of widespread vaccine distribution could easily result in a return to protectionist tendencies, particularly given regional initiatives such as the U.S.' "Project Warp Speed" and despite collaborative arrangements such as Covax.
The supply chains for delivering COVID-19 vaccines may prove challenging. The Pfizer Inc.-BioNTech SE vaccine requires deep freezing, though manufacturing for the U.S. and EU will be carried out in-region, potentially utilizing existing frozen product supply chains.
Moderna Inc.'s product has less stringent requirements and will also be produced locally for the U.S. and EU markets by Lonza Group Ltd. (Switzerland), Catalent Inc. (U.S. as well as working with seven other developers) and Laboratorios Farmaceuticos Rovi SA (Spain), according to S&P Global Market Intelligence.
AstraZeneca PLC/Oxford Therapeutics, meanwhile, is also working with Catalent as well as SK Bioscience Co. Ltd. for South Korea and Cobra Biologics Ltd. (Europe), as well as others. Among other major vaccines, Russia's Sputnik V will be produced by Parana Technology Institute (Brazil) and Dr. Reddy's Laboratories Ltd. (India).
Panjiva's data shows global trade in vaccines reached $29.9 billion in 2019, with exports dominated by the EU at 75.2% of global trade and 63.5% if excluding intra-EU trade. The U.K. was second with 11.4%/16.9% and the U.S. third with 6.8%/10.0%. In the emerging markets, therehas been a rapid expansion in exports from India, though it still only represented 2.6% of global trade in 2019.
Even regional supplies of vaccines can require rapid transportation, however. Panjiva's data shows that the U.S. accounted for just 11.3% of Mexican vaccine imports in the 12 months to Sept. 30, with 74.8% having traveled by air.
Similarly, shipments from Europe, which accounted for 55.4% of the total, relied mostly on air transport with 72.0% of shipments linked to Sanofi and Pfizer traveling by that mode. More recently, Indian suppliers led by Serum Institute of India Pvt. Ltd. have come to lead Mexican imports with air travel being the only vector.
For emerging economies more generally, supplies from India will be vital. India's exports were worth $772 million in 2019 with leading destinations including Nigeria, Bangladesh and Brazil. Indeed, exports to Europe or the U.S. were minimal.
The leading exporters from India in the 12 months to Aug. 31 were Serum Institute with $141 million of exports after year over year growth of 42.2%, followed by Bharat Biotech Ltd. with $60 million of shipments and growth of 120.3%.
Christopher Rogers is a senior researcher at Panjiva, which is a business line of S&P Global Market Intelligence, a division of S&P Global Inc. This content does not constitute investment advice, and the views and opinions expressed in this piece are those of the author and do not necessarily represent the views of S&P Global Market Intelligence. Links are current at the time of publication. S&P Global Market Intelligence is not responsible if those links are unavailable later.


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Freight tonnage will grow 25.6 percent by the end of the next decade, the American Trucking Associations (ATA) predicts in its annual ATA Freight Transportation Forecast: 2019 to 2030.
Overall freight tonnage will grow to 20.6 billion tons in 2030, up from 2019’s projection of 16.4 billion tons. Industry revenues will increase 53.8 percent to $1.601 trillion over the next decade.
Trucking’s share of total freight tonnage will dip to 68.8 percent in 2030 from 71.1 percent this year, even as tonnage grows to 14.2 billion tons in 2030 from 11.7 billion tons.
Intermodal rail, air and domestic waterborne transportation will show modest growth. Pipeline transportation will surge 17.1 percent in tonnage and 8.6 percent in revenue over the next decade, according to the ATA report, which was released on August 21.
“America’s trucking industry, and the overall freight transportation industry, are poised to experience strong growth over the next decade as the country’s economy and population grow,” said ATA Chief Economist Bob Costello.
“Freight Forecast clearly lays out why meeting challenges like infrastructure and workforce development are so critical to our industry’s success,” said ATA President and CEO Chris Spear.
The ATA is pushing for a $0.20 per gallon increase in the federal excise tax on gasoline and diesel over four years as a way to shore up the nearly broke Highway Trust Fund, which distributes money for interstate projects and improvements.
The association also is trying to recruit young people to driving careers by making 18- to 20-year olds eligible to drive Class 8 trucks across state lines after training. ATA pegged the shortage of long-haul drivers at 60,800 at the end of 2018.


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Sponsored: How many of these will you complete over the long weekend?
As the first five-star hotel in the city, Radisson Blu Dubai Creek will celebrate 50 years of the UAE by curating a bucket list of things to see and do in Dubai for those living and working in the city.
Whether you are a resident or a tourist, the list of ten essential Dubai experiences is a celebration of the vibrant culture of the United Arab Emirates and an excellent way to celebrate the Golden Jubilee.
These once in a lifetime bucket list experiences include a dining experience at the hotel’s authentic Persian eatery, Shabestan. The restaurant, serving customers for four decades, features authentic recipes passed down through three generations. The restaurant’s legacy inspired the team at Radisson Blu Dubai Creek to curate the bucket list for National Day.
Elsewhere on the list, visitors are encouraged to take a traditional wooden abra boat from outside the hotel’s entrance and journey across the waters of Dubai’s historic creek. Once on the Bur Dubai side, it is recommended that you explore the traditional souks to shop for textiles, spices and handicrafts.
Taking the adrenaline levels up a notch, the bucket list activities include a sunset yacht trip on the Arabian Gulf, a skydive over the Palm Jumeirah and yoga on top of the world’s tallest building, Burj Khalifa.
Outside of the city, it is suggested that you experience a magical sunrise in the desert surrounded by camels and dunes before heading to Hatta for a spot of hiking and those unrivalled mountains views.
Complete the bucket list back in the city with a tour of the art galleries, coffee shops and unique retail options at Alserkal Avenue before retiring for the evening at one of Dubai’s outdoor cinemas.
Jan Hanak, General Manager of Radisson Blu Dubai Deira Creek, said: “We’re very proud of our history and heritage within the hotel. Shabestan is one of our most established restaurants and has welcomed many prestigious guests over the years. We’re also proud to say we have been welcoming back loyal guests for almost 40 years. With a historical day ahead, we wanted to inspire other residents to consider what’s on their Dubai bucket list and reflect on the wonderful experiences they may already have had here in the city. The list is not conclusive of all there is to see and do in Dubai, but our team hope instead that it will be a conversation starter and encourage both our guests and residents of the city to explore.”
Residents can listen in to the big breakfast on Dubai 92 this week to win the chance to dine at Shabestan and experience the must-try restaurant for themselves. In addition, Radisson Blu Dubai Deira Creek encourages everyone to watch their bucket list video on their social media and comment with what they would like to see added to the list.


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Burton was selected due to her narrative approach to the Alexander McQueen S/S20 show and extraordinary work in championing UK-wide craftsmanship, for highlighting skills important to the brand and essential to the industry. In the past year alone, Burton has drawn on the expertise of the fabric mills of the North of England, Mallon linen and Irish beetling.
Burton has demonstrated a considered and consistent vision for the house, overseeing all aspects including brand image and retail concept, expanding to innovative retail spaces, new global flagship stores, exhibition spaces and educational programmes.
This year saw the launch of the educational second floor of the Alexander McQueen flagship store on London’s Bond Street, a ground-breaking and highly innovative retail space. On the top floor, the flagship store hosts a unique community-building experiential space, intended to foster emerging talent and students throughout the UK.
Burton founded an education programme which connects universities and colleges from around the country offering students the opportunity to enhance their knowledge of design and craft with the help of members of the McQueen design team. This pioneering approach starts in the UK and will be rolled out internationally in years to come.
“Burton’s empowering and narrative approach to shows and her focus on community and appreciation of craft, technology and British heritage is what has made her one of the most respected designers of our time. Her commitment to sharing her vision and expertise with the future generations of fashion designers has been remarkable. She’s an incredible source of inspiration for many generations to come and we look forward to celebrating with her in London in December,” said Caroline Rush, BFC chief executive.
The Trailblazer Award was introduced at The Fashion Awards in 2018 and is one of the Special Recognition Awards, celebrating the very best innovators and creatives in fashion, whose work in the past year has been a game-changer and has significantly shaped the industry.
The Fashion Awards is the main fundraiser for the BFC’s charitable and talent support work. The BFC is a not for profit organisation focused on promoting excellence in British fashion and supporting the future pipeline of creative talent.
Fibre2Fashion News Desk (PC)
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The split happened at block # on October 25, and everyone who held their Bitcoins in a supported exchange or in a private wallet is eligible to claim Bitcoin Gold. Jun 25, · Bitcoin gold was a hard fork that followed several months after bitcoin cash in October The creators of this hard fork aimed to restore the . Nov 10, · Most people may have forgotten Bitcoin Gold is another Bitcoin fork. It has been around since late October , but quickly lost traction. More and more exchanges are currently in the process of delisting BTC, simply because no one is interested in trading this currency.
Bitcoin fork date goldEvery Bitcoin Fork to Date Explained » Vaultoro, buy gold with bitcoin
Main article: Fork blockchain. Retrieved 17 June Mastering Bitcoin: Programming the Open Blockchain 2 ed. USA: O' Reilly media, inc. The New Yorker. Conde Naste. Retrieved 7 January Retrieved 20 August PC World. Retrieved 5 January Archived from the original on Retrieved April 28, Retrieved 23 April In response, a group of developers launched Bitcoin Classic in early Unlike XT, which proposed increasing the block size to 8 megabytes, Classic intended to increase it to only 2 megabytes.
Like Bitcoin XT, bitcoin classic saw initial interest, with about 2, nodes for several months during The project also still exists today, with some developers strongly supporting Bitcoin Classic. Nonetheless, the larger cryptocurrency community seems to have generally moved on to other options. Bitcoin Unlimited remains something of an enigma some two years after its release. The project's developers released code but did not specify which type of fork it would require. Bitcoin Unlimited set itself apart by allowing miners to decide on the size of their blocks, with nodes and miners limiting the size of blocks they accept, up to 16 megabytes.
Despite some lingering interest, Bitcoin Unlimited has largely failed to gain acceptance. Put simply, SegWit aims to reduce the size of each bitcoin transaction, thereby allowing more transactions to take place at once.
SegWit was technically a soft fork. However, it may have helped to prompt hard forks after it was originally proposed. In response to SegWit, some bitcoin developers and users decided to initiate a hard fork in order to avoid the protocol updates it brought about. Bitcoin cash was the result of this hard fork. It split off from the main blockchain in August , when bitcoin cash wallets rejected bitcoin transactions and blocks.
Bitcoin cash remains the most successful hard fork of the primary cryptocurrency. As of this writing, it is the fourth-largest digital currency by market cap , owing in part to the backing of many prominent figures in the cryptocurrency community and many popular exchanges. Bitcoin cash allows blocks of 8 megabytes and did not adopt the SegWit protocol. The creators of this hard fork aimed to restore the mining functionality with basic graphics processing units GPU , as they felt that mining had become too specialized in terms of equipment and hardware required.
One unique feature of the Bitcoin gold hard fork was a "post-mine," a process by which the development team mined , coins after the fork had taken place. Many of these coins were placed into a special "endowment," and developers have indicated that this endowment will be used to grow and finance the bitcoin gold ecosystem, with a portion of those coins being set aside as payment for developers as well.
Generally, bitcoin gold adheres to many of the basic principles of bitcoin. However, it differs in terms of the proof-of-work algorithm it requires of miners. When SegWit was implemented in August , developers planned on a second component to the protocol upgrade. This addition, known as SegWit2x , would trigger a hard fork stipulating a block size of 2 megabytes. It has to be said, the Bitcoin XT community had some interesting ideas. Gavin Andresen wanted to introduce 8MB blocks and an ongoing increase in size every two years.
Doing so would have taken the Bitcoin transaction output from 7 to 24 transactions per second. Bitcoin XT was eventually abandoned and turned into a Bitcoin Cash software client by mid Although Bitcoin Classic has a solid ring to it, the vision by its developers was anything but that. It too wanted to increase the block size of Bitcoin to two megabytes. Some of its code was eventually accepted by Bitcoin XT, but the Bitcoin Classic project ultimately disappeared.
Instead, the developers opted to give miners and nodes the option to manually set their preferred block sizes. The software fork ceased to exist in November of in its software-oriented approach.
Bitcoin Unlimited aimed to increase the transaction capacity of the network as well. However, it never received enough support from Bitcoin supporters, it is still around today, however, but is now only compatible with Bitcoin Cash.
Known as Bitcoin Cash , it is the network for users who want to see bigger Bitcoin blocks and more transaction capacity. As a project, it has come under a lot of scrutiny numerous times, even though it is still going strong today. Its price never succeeded in rivaling Bitcoin in any way, though, which was to be expected. He remains a public figure associated with this hard fork today.
Bitcoin Cash has far fewer transactions, nodes, and miners than Bitcoin. Contrary to what most people may assume, Bitcoin SV is not a direct hard fork of Bitcoin itself. Instead, it is a forked version of Bitcoin Cash, which saw the light of day in November of Backed by Craig Wright — who claims to be Satoshi Makamoto — the project has been in disarray for some time now.
Even though it has a block size of 32 MB, the miners and node operators are seemingly not interested in this effort. Most people may have forgotten Bitcoin Gold is another Bitcoin fork.
It has been around since late October , but quickly lost traction. More and more exchanges are currently in the process of delisting BTC, simply because no one is interested in trading this currency. As far as purpose goes, Bitcoin Gold did not seem to address a specific need or shortcoming right away. Although it ensures no ASIC hardware can be used to mine on the blockchain, there is no other reason to check out Bitcoin Gold today.


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Cyber security risk management solutions company Outpost24 recently published its 2022 FTSE 100 credential theft study, revealing that over 31,000 credentials from the UK’s biggest companies have been compromised and leaked onto the dark web.
In total, Outpost24 found 31,135 stolen and leaked credentials, of which:
- 75% were stolen through data breaches
- 25% were obtained via malware, with the victims not knowing it had happened, at least initially
Across the entire FTSE 100 index, 81 companies were found to have had at least one credential exposed on the dark web.
Who is stealing the data, and which companies are hackers targeting?
Ransomware groups are the main culprits. Once they have access to systems, they have the potential to cause havoc, as seen during May 2021’s Colonial Pipeline ransomware attack.
Among FTSE 100 companies, over 60% of the compromised credentials came from industries subject to higher levels of regulation:
- 23% came from IT and Telecoms businesses – this sector had the highest volume of credentials (7,303) found on the dark web
- 22% came from energy and utility companies
- 21% came from finance firms
These industries are targeted more frequently for various reasons, among them the potential to cause more significant levels of havoc with a successful attack and the possibility of “earning” a higher ransom or selling stolen data at a higher price.
In addition, businesses in these industries are likely to hold a significant volume of sensitive consumer data, heightening the potential for them to suffer a massive data breach if hacked. Consumer data breaches in these industries could prove particularly costly because the Information Commissioner’s Office (ICO) can fine businesses up to 4% of their global turnover.
As well as the industries mentioned above, the healthcare sector remains a significant target for cybercriminals even as we exit the pandemic. Outpost24’s research found that FTSE 100 healthcare companies have, on average, 485 compromised credentials on the dark web.
Victor Acin, Labs Manager at Blueliv, which is Outpost24’s threat monitoring and auditing tool, said: “Once an unauthorised third party or initial access broker get hold of user logins and passwords, they can sell the credentials on the dark web to an aspiring hacker, or use them to compromise an organization’s network by bypassing security measures and moving laterally within to steal critical data and cause disruption.
“Stolen credentials are dangerous because there is very little that can be done to identify and detect once an intruder is inside your system. Therefore, it’s important to proactively monitor stolen credentials and alert security to reset passwords upon discovery to reduce risk.”
If your data is compromised, you could be entitled to compensation
If your data is compromised due to a data breach within a FTSE 100 company or any other business or organisation, you could be entitled to compensation.
Contact us now for a free, no-obligation review of your potential claim.


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Michelin opens second Tigar Tyres plant, says more entry-level investment possible
The second Tigar Tyres plant in Pirot, Serbia is now open. An official inauguration was held at the facility on 9 October, and this culminated in Serbian President Tomislav Nikolic and Jean-Dominique Senard, CEO of parent company the Michelin Group, signing the first tyre to roll off the production line. The inauguration marked the completion of the first part of two-phase project. Investment has so far reached €215 million, and the 56,000 square metre facility will be capable of producing between 8 million and 12 million tyres in its phase one incarnation. Some 500 people will be employed at the new plant, increasing the Tigar workforce to around 2,600 to 2,700.
A second phase of investment will see a further €165 million spent to increase passenger car tyre capacity at the plant from 12 million to 20 million units a year. When phase two work is complete, the Tigar site in Pirot will become the second largest Michelin facility in Europe. The Pirot site produces car, light commercial vehicle and two-wheeler tyres under the Michelin, Tigar, Riken, Kormoran, Orium, Strial and Taurus brand names.
Further entry-level investments?
When Michelin announced its plan to expand capacity in Pirot back in April 2012, it said the investment project was “in line with Michelin’s growth strategy as it enables the Group to strengthen its offering of entry-level tyres.” It commented that this particular tyre market segment was expected to grow by 30 per cent globally over the coming ten years.
In addition to its flagship brand, Michelin is already amply represented in the tier two and tier three segments of the market by its Kleber, Tigar, BFGoodrich, Kormoran, Riken, Taurus and Warrior (manufactured in China by joint venture facility Double Coin Group (Anhui) Warrior Tires Co) brand names. However it seems there may still be room for another brand at the lower end of the spectrum. Speaking with FranceInfo last week, Jean-Dominique Senard commented that Michelin may consider adding a new entry-level brand in the Asia region if a suitable opportunity arises.


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IN A LITTLE OVER A DECADE, 1 GRANARY HAS EVOLVED FROM A HUMBLE CENTRAL SAINT MARTINS STUDENT BLOG TO ONE OF THE MOST PIERCING ARBITERS OF BRITISH FASHION. HERE, ITS FOUNDERS REFLECT ON THE MAGAZINE’S MAKINGS, MINDSET—AND MEMES.
Uncertain futures are to magazines what changing algorithms are to influencers: unpredictable, impactful, and a test of adaptability. In light of the rise of TikTokcore and the ever-expanding sea of online content, there is often a question mark over who—in this day and age—magazines are for. Whether the youth are still buying them, whether Instagram can compete, and the grim debate of whether AI will replace journalists altogether. This unpredictability is bolstered by the hard reality that, in the UK at least, the purchase of print titles has declined by 70 per cent between 2010 and 2022, from one billion to 309 million. Ouch.
A decade ago, however, there was a gap on newsagents’ shelves for a fashion magazine yet to exist. One that was by students, for students; a resource to discover the undiscovered, ready to sink its teeth into independent, critical journalism, not influenced by the ball and chain of the paying advertiser that established publications are so often limited by. While the celebrity-adorned covers of Vogue, the wink of i-D and London-ness of Dazed had long been established, there was need for a bit of anarchy: a magazine that was frank, provocative in its approach, and celebrated the lives and work of peers and friends over the biggest name.
When Olya Kurshchuk set up 1 Granary in 2012, in the middle of her fashion design studies at Central Saint Martins (CSM), she had no intention of establishing one of London’s leading platforms for nurturing the city’s roll-call of emerging fashion designers. Starting a magazine wasn’t even a thought. In fact, it was the last thing Kurshchuk wanted.
“I didn’t care or think about the fashion sphere,” Kurshchuk says, Zoom-ing in from a hotel room in Copenhagen just after 10pm. She rubs her eyes, having spent most of the day hopping from show to show at the city’s SS24 Fashion Week. “I started 1 Granary on a Tuesday, and on Wednesday there were two of us. A week later, there were 20 of us,” she explains of the platform’s humble beginnings as casual meet-ups in CSM’s buildings. It was an idea born out of Kurshchuk’s frustration, having moved to London from Kyiv, Ukraine, at not feeling as well-equipped for Saint Martins as her UK peers. “They all had friends who were a year or two above them, so they knew about projects in advance. When someone would say ‘Fashion East’, I was like, ‘Who?’ I’d never heard of Dazed before I moved to London.”
A little over a decade ago, 1 Granary was a hub for fashion students who felt the same as her. Named after its address on CSM’s campus around London’s Granary Square, it started as an online blog where one could openly ask questions—and get some much-needed answers—about the fashion industry: how to apply for internships, the best places to source fabrics in London, and industry names to know. Despite studying fashion at one of the most influential art schools in the world, the industry beyond the King’s Cross building still felt impenetrable.
“Tutors at CSM give you five minutes, if you’re lucky, twice a week,” Kurshchuk continues. “So through 1 Granary, we were able to sit for an hour and speak to a tutor, to understand how brands work, how to get a visa, things like that.”
Even at a university where almost a quarter of students come from overseas, Kurshchuk found there was little guidance for those who weren’t ‘in the know,’until she set it up herself. “If I were to ask someone to have a coffee with me, so I could ask them questions, they wouldn’t understand why,” she explains. “But once we had 1 Granary, everyone wanted to have a coffee and open up.” With no media plan or business model (“we didn’t even want a magazine!”), Kurshchuk was content with how things were running, with meet-ups at Saint Martins happening regularly. “We just wanted information at a time when we couldn’t find it. It was serving ourselves and our friends around us.”
Then came a bit of luck—and 1 Granary’s first foray into publishing. With the editorial shoots, features and interviews of its first issue complete, Kurshchuk received an email from Adrian Joffe, president of Comme des Garçons, who said he’d like to meet in Paris. It turned out a first-year student involved with 1 Granary was emailing (“pestering”) a salesperson at Dover Street Market.
“By that point, the magazine was done, so I brought it as A3 spreads. Usually people pitch an idea, but we brought 300 pages, laid out, written, shot—everything,” she says.
Three days later, Joffe followed up with a call. “I remember being in a cab and receiving the call saying Comme des Garçons will help fund it.” With Joffe’s support, 1 Granary would become the first publication CDG would fund in its entirety. Being students, this obviously helped get the project off the ground, lifting it from a self-funded university project to a bona fide magazine. “We only printed 1,000 issues, but [those issues] opened so many doors.” Once printed, it was time to distribute. All 1,000 issues were delivered by hand over three months. “It almost killed me.”
Priced at £12, the first issue clocked in at a mammoth 650 pages, its contents including a reissue of stylist and CSM alumni Katie Grand’s first-ever fashion editorial; an interview with Vogue’s then-fashion director and fellow CSM alumni Kate Phelan; and a cover featuring a model in tulle and a naked baby—no doubt alluding to the birth of the magazine.
There was never a plan for what 1 Granary would eventually become: a fully-fledged website in 2012 and its first print issue a year later. Its beginnings were—as with most student projects—DIY, but it was Kurshchuk’s autonomous spirit that shaped the publication into a respected platform capable of holding its own against long-established titles. Its biannual issues and online content echo Kurshchuk’s brilliant, no-bullshit tone: interviews are frank and honest, the less glamorous facets of working in fashion (unpaid internships, stylist returns, PRs on a power trip) readily exposed, and The Big Questions asked. For instance: “Why is Fashion Week so awkward?”
“The only constant since we started is curiosity. A need to grow and discover, and then observing the industry and responding to that,” says Aya Noël, 1 Granary’s online editor, joining the Zoom from her home in London. “Where most magazines have a fixed format, launching and coming out monthly or biannually and then growing from there, for us the format itself changes, as we look for different ways to answer to that curiosity—this need to understand the industry.”
Since those early days, 1 Granary has gone from an idea among students to a multi-faceted entity comprising a website, a hefty magazine and, of course, an Instagram account—the shining star of its galaxy, in some ways. Eschewing dull, lengthy posts, 1 Granary favours an internet-friendly approach: memes that essentially take the piss out of the revolving sartorial trends, existentialism and hysteria fashion can often land itself in. A smiling Kirsten Dunst, sunglasses on, sits on the back of a motorbike holding onto its rider. She is “the fashion industry”, the driver is “Phoebe Philo releasing a link.” In between are posts sharing students’ designs with captions of praise; bite-size fashion news headlines: “Christopher Kane is closing down his brand :(” ; and astute commentary on various brands getting it oh-so-wrong: Versace and Louis Vuitton being amongst the luxury houses having “cherry-picked motifs from sex work culture, capitalised on clichés and prioritised artifice over authenticity,” when discussing the absence of sex workers’ voices in an industry in which sex, historically, sells.
A conveyor belt of projects has kept them busy. In 2016, Kurshchuk, along with a team of 14 in-house and contributing editors, set up a London-based showroom representing 50-plus designers, that has since collaborated with luxury brands such as Gucci, Tom Ford and Valentino; hosted talks and workshops on sustainability, politics, independence and critique; and curated exhibitions bringing together then-emerging students and labels such as menswear duo Stefan Cooke, Paolina Russo and Loewe’s senior womenswear designer Rebecca Jeffs. In 2018, they collaborated on The Graduate Project, a fashion film with Showstudio featuring the works of designers Bianca Saunders, Camilla Damkjaer, Eftychia, Arnar Mar Jonsson and T/SEHNE. In 2020, 1 Granary partnered with Pinterest on ‘Designers to Hire,’ an online, visual resource that connects designers for hire with stylists, buyers and employers in the fashion industry.
But it is 2017’s launch of VOID—a hands-on initiative supporting young talent which culminated in a sold-out physical issue—that perhaps best exhibits 1 Granary’s hawk-like eye for new talent to watch out for, long before they fall into the hands of other fashion editors. Split into six individual zines, MA Fashion students were paired with established, sought-after photographers, stylists and art directors from across the industry. KNWLS worked with Harley Weir and Georgia Pendlebury (both of whom still work with the London-based brand, six years on), setting the visual tone of feminine sensuality in a series of subversive shots that emphasise the body–darkened corners and tough poses anticipating what was to come for Charlotte Knowles and Alexandre Arsenault’s cult label.
Chopova Lowena, who worked with Pop and Arena Homme+ creative director Ben Kelway, produced a surreal short film of mannequin-like models spinning around on turnstiles, hard-as-nails with hands firmly on hips, visors obstructing the eyes, and wearing early iterations of Emma Chopova and Laura Lowena’s beloved kilts (these days seen on the likes of Dua Lipa, Madonna and Olivia Rodrigo). Then, it was Sinead O’Dwyer’s turn, whose MA designs were interpreted by photographer Sharna Osborne and stylist Danielle Emerson; the long-time collaborators’ transgressive, club-kid influences shook up O’Dwyer’s sculptural final-year designs—authentically size-inclusive in its celebration of the human body—to a fizzy cocktail of joy, hedonism and attitude. This energy is still to be found in her more recent catwalk collections– she debuted at London Fashion Week in September 2022, as part of the British Fashion Council’s NEWGEN initiative.
For all of this to become possible, Kurshchuk and co. had to play with institutional boundaries, dipping their nibs into styling, photoshoots and other mediums that weren’t part and parcel of their respective degrees. “In CSM, you’re so limited,” Kurshchuk says. “If you do fashion print, then that’s the only thing you do. If you do womenswear, there’s no way for you to use the print room. So if you wanted to try styling, illustration or writing, you were so limited. We wanted to try different things.”
Armed with defiance, white IKEA bed sheets and some willing models, Kurshchuk started putting together editorials, mostly using students’ designs. Then, she came across a twelve-page zine in a Saint Martins’ print room, and had the idea to transform her shoots—that had until then largely lived on a 1 Granary blog—into a bona fide magazine and hand them out to students at the university, guerilla style.
“That started growing quite quickly, and we started building it as a magazine,” she says. “Aya knows I have this curse, that whenever I start something, somehow it really grows in size. A small zine will turn into 650 pages, or a little exhibition turns into six huge companies working with us.”
“She’s a very enthusiastic person!,” Noël adds.
“I’m telling you, if I was able to start a magazine, anyone can,” Kurshchuk says, dead serious. “For every email, I would write it in Russian because my flatmate was from Kyrgyzstan, and she would translate them into English and then I would send the email. My English wasn’t so good back then.”
Back in 2012, Instagram had only just taken off. The app then had 50 million users, compared to today’s one billion, and the possibility of instant, global reach, wasn’t nearly as dramatic as it is now. If 1 Granary was being set up today, would it be a case of Kurshchuk posting a Story, asking her peers if they’d like to meet once a week, as she did—IRL—over a decade ago?
“Maybe I’m delusional, but I feel like it’s easier to start now than back then. Everyone is so much more savvy now,” she says. “We were kind of just testing what would happen. There are examples of really smart people like Imran [Amed, founder of Business of Fashion] and Susie Bubble. As a student then, they were that small group of bloggers who managed to use it to their advantage. But the majority of us had no idea how to do it, and didn’t want to put ourselves out there. We were too shy!”
Given the uncertain (depressing) future of physical magazines, I ask Kurshchuk whether she’d bother mailing out 1,000 copies of 1 Granary copies by hand, if it were to be made today. “When it comes to brands and magazines, you have to have an angle that is original and you’re constantly thinking about why it needs to exist, instead of just doing it for the sake of it,” she says. “You have to have a point of view.”
1 Granary came at the perfect time. Word-of-mouth was a currency that had much more resonance than it does today, the pace wasn’t as gruelling as today’s constant churn culture and, importantly, it was a meeting place for Saint Martins’ next generation to congregate into one magazine. A far cry from the notions of art schools being bitchy, cut-throat and dog-eat-dog, 1 Granary was—and still is—a collaboration.
After over a decade, the magazine has remained happily independent. But while it, at times, sounds as though things merely fell into place for 1 Granary, it took a fair few sleepless nights along the way, too. True to form, Kurshchuk and Noël are quick to divulge the harsh realities of operating a business in fashion—a tricky subject the platform often addresses, to wipe away the gloss and make the realities of low pay and hard work clear to generation-next.
“When you’re independent, you need something to do it for,” Noël says. “I’m weighing my words a little because I’m very allergic to ‘just follow your dream’ narratives from people who speak about a startup or any business— those are very vague terms. But what you do need is enthusiasm and excitement; the things you see and touch that motivates you.”
“At one point, we were stealing toilet paper from coffee shops because we couldn’t afford it,” Kurshchuk says. “I’d never had a ‘dream.’ But at some point, doing 1 Granary felt like the only method of survival. It either worked or I was going back home [to Kyiv]. There was a lot of stress. We’re in a great place. I feel very, very fulfilled.”
Over ten-plus years, 1 Granary has become a trusted voice for emerging fashion talent in art schools around the globe, building water-tight relationships with institutions such as the Royal Academy of Art, Parsons, Fashion Institute of Technology and Polimoda. And the platform’s influence has helped elevate how the industry sees graduate designers, and students yet to even graduate, from an afterthought to review-worthy. Talent has always been there, but with 1 Granary’s fine-tuning, its advocacy for young talent and determined questioning of rights and wrongs, the British fashion industry has certainly learnt a thing or two.
With a decade over and done with, what do the next ten years look like?
“On a journey to becoming huge. And I don’t mean as a media, but as the company and the things we are doing, I think we are on the right path,” Kurshchuk says.
“Maybe we’ve been staring at your poster for too long,” says Noël, referring to the Michael Clark Company print hung up behind me, with a giant cock drawn over its lime green background, “because I was also going to say huge.”


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AECOC published the data “Lean & Green Barometer” in which the progress made by companies in the environmental management of their logistics processes is examined. The report shows that sustainability is a priority for large consumer goods companies 83% confirm they have systems in place to measure their carbon footprint in goods transport.
On the other hand, 11% who have not yet implemented these measures plans to do so shortly. The reason most often repeated by those who haven’t is this You don’t have the right tools.
When analyzing short-term plans for this purpose 89% of the companies affirm that they focus on the optimization of logistics processeswhile six out of ten will choose too invest in digitization and collaborative transport models, sharing means of transport with other companies. This model is in fact the one that has grown the most in the last year, a 52% of companies have implemented it.
In the long term, there is greater uncertainty. 69% predict they will choose to renew their fleet using hydrogen fuelduring a 41% think electric vehicles are the best option.
The report also shows that in addition to the widespread use of measures in transport, emission reduction measures in storage are also widespread. In this way, Nine out of ten companies have already implemented strategies for the rational use of electrical energyWaste management and LED lighting.
Focus on decarbonization
The barometer also reflects some skepticism among companies about meeting Europe’s targets to reduce CO2 emissions. Only 35% of companies believe a 55% reduction in emissions by 2030 is feasible.
The main obstacles include the fhigh level of maturity of the new technologies available for transportthe limited charging infrastructure available and the Current costs of vehicles with alternative drives.


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Major Chinese restaurant chains and food retailers reported rosy business performances in the first half of the year, with the growth continuing to be on an uptrend in the latter half, fueled by the tourism market, industry observers said.
Quanjude, an iconic traditional Peking roast duck chain, has realized a year-on-year turnaround from three years of losses to profitability. In the first six months, Quanjude reported its sales revenue to be 668 million yuan ($91.5 million), jumping 104.06 percent on a yearly basis.
During the period, its net profit reached 27.9 million yuan, surging 118.28 percent, with earnings nearly rebounding to pre-COVID-19 levels, according to its half-year report.
From 2020 to 2022, the Shenzhen-listed restaurant saw losses for three consecutive years in the first half of those years, as it suffered negative impacts from the pandemic, according to the company.
By the end of June, Quanjude operated 91 restaurants at home and abroad. Its outlets in North China, which account for some 70 percent of its total sales, reported remarkable business performances, with sales reaching 473 million yuan in the first half of this year, it said.
"Since the beginning of this year, with consumers showing higher spending enthusiasm, the release of favorable policies in different regions to support consumption and a boost from holidays and summer vacations, the recovery of the domestic catering sector following the pandemic has been at the forefront," said Zhu Danpeng, an independent food and beverage analyst based in Guangzhou, Guangdong province.
"The catering sector is expected to continue its heat in the second half. With the potential of more events like celebrations and weddings, the sector is likely to embrace another wave of growth," Zhu said.
From January to June, the domestic catering sector achieved sales revenues of 2.43 trillion yuan, up 21.4 percent year-on-year, becoming the consumption category that saw the biggest rebound during the period. In July, nationwide catering revenue reached 427.7 billion yuan, up 15.8 percent on a yearly basis, according to the National Bureau of Statistics.
Meanwhile, Hong Kong-listed Chinese mainland hotpot chain Haidilao projected sales of at least 18.8 billion yuan in the first six months, up 23.7 percent year-on-year, according to its recently released interim estimate.
The company also forecasts a net profit of at least 2.2 billion yuan in the first half, the highest since it went public in 2018, attributing the profit growth to a higher turnover rate, and improvements in internal management and operational efficiency.
Haidilao has also made more efforts in marketing. This summer, it provided several complimentary buses outside concert venues in the evenings in cities such as Changsha, Hunan province, to attract consumers to the restaurants once the concerts ended.
In addition, frozen food retailer Zhengzhou Sanquan Foods Co Ltd achieved sales revenue of 3.86 billion yuan in the first six months, up 0.89 percent year-on-year, and its net profit reached 437 million yuan, up 1.31 percent on a yearly basis, according to its latest half-year earnings report.
The company's main products include frozen noodles and rice, frozen prepared food and refrigerated food with a shorter shelf life. Its first-half revenue in the catering market reached 629 million yuan, jumping 20.47 percent year-on-year. Sanquan Foods attributed the growth to the fast recovery of the domestic catering segment, which significantly drove its sales.
After China optimized its COVID-19 response measures late last year, consumption in the catering sector has rebounded rapidly. The sector is foreseen to continue the upward trend in the latter half of the year, said a research report by Capital Securities.