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The company said the discount in Blinkit’s valuation was due to macroeconomic factors.
Zomato’s board of directors on Friday approved the acquisition of quick commerce startup Blinkit (formerly Grofers) for Rs 4,447 crore ($570 million) in an all-stock deal.
During Saturday’s analyst and shareholder call, Zomato executives indicated that post-closing priorities would be customer and delivery fleet integration. Zomato may consider moving Blinkit to the Zomato app.
“We will be experimenting with different ways to integrate the two customer bases, or rather ensure that we are able to leverage Zomato’s customer base to grow the Blinkit business,” said Akshant Goyal, CFO of Zomato. “Once the transaction is finalized we will test these things and if it makes sense to actually have both brands in the same app then why not? So we have several ideas in our heads and we will experiment and see what works in the end. ”
Leveraging Zomato’s grocery delivery customer base for cross-selling quick commerce will be a big part of “realizing synergies,” he said.
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“Once the deal closes, we’ll start experimenting with various ideas we have and see which all come to fruition, including the Blinkit tab in the Zomato app.” As they say, experiment a lot and stick with what works. This remains our mission statement, Deepinder Goyal, founder of Zomato, wrote in a letter to shareholders on Friday.
Blinkit transformed into a unicorn last year after a $120 million funding round from Zomato and Tiger Global, valuing it at $1 billion. Zomato also invested $100 million in Blinkit when it was still known as Grofers before the food delivery company listed on Indian stock exchanges last year.
“If you compare the size of the company (Blinkit) today, it’s quite similar to the size of the company last year, although the format was different then and the growth prospects that could be argued about were different,” said Akshant Goyal, CFO by Zomato. “The discount you see is essentially in our heads adjusting to the new reality we are all living in today where valuations for all growth companies have been corrected.”
The transaction is subject to customary approvals, including 75% of shareholders voting on the decision. The transaction should be completed by early August, Zomato told BSE after its board meeting on Friday.
Zomato anticipates that both Blinkit’s audience and advertising revenue potential will be greater than that of its grocery delivery business. While Zomato and Blinkit’s audiences overlap, older users who are new to the meal delivery service are using Blinkit, CFO Goyal said.
“I think there will be a lot of user base overlap, but there will be a new demographic or new user base that will be a customer or a quick trade user, which may not be the case with grocery delivery,” he said .
In his letter, CEO Goyal said he would argue that ad revenue from quick trade would be higher than grocery delivery “given the much larger budgets for digital ad spend by consumer products and brands.”
Blinkit CEO Albinder Dhindsa said on the earnings call that the entire grocery segment, including fresh produce, accounts for 70% of total sales. The company improved its “take” rate from 7.5% in January to 14.5% in May 2022. The take rate is the commission that a marketplace charges for a transaction on its platform.
“We’ve had an increase in the commissions that we can charge because some areas were starting to have thresholds beyond which the volume allowed us to do that,” Dhindsa said.
“We have also seen an increase in advertising revenue as well as shipping costs paid by the customer. All of these three other factors contributed to the increase in the metric score.”
The company retained 60% of consumers from the value-oriented segment of its previous model.
“Most of the user waste we have over there is from areas where we became unusable after limiting our service to a 10-minute delivery,” he said.
After expanding to more than 450 dark stores dedicated to fulfilling orders, this has since been reduced to 400 due to limited traction and other issues. Of these, 200 work in partnership with local vendors. It plans to focus on the 15 cities it currently operates in and improve the business of those dark shops. Blinkit’s gross order value (GOV) is already around 63% of the GOV of Zomato’s grocery delivery in Gurugram, the company said.
The Blinkit purchase is expected to help Zomato, which has been bullish on fast trading, significantly strengthen its position in the lively and ultra-fast food delivery space. Rival Swiggy has pledged at least $700 million for its quick commerce business on Instamart. At the same time, the industry has also attracted other well-funded startups such as Zepto,
Retail-backed Dunzo and Tata-owned BigBasket.


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Toys R Us Inc. said its profit plunged 57% in the third quarter to $20 million, or 8 cents a share, as competition from discount chains continued to hurt sales. Revenue at the world's biggest toy retailer inched up 1.4% to $2.17 billion. Sales at U.S. stores open at least a year were down 5%. A lack of a hot-selling toy such as last year's "Star Wars" action figures also hurt sales and is expected to crimp holiday sales as well. Toys R Us said in September that it will close about 90 stores, shut distribution centers and fire as many as 3,000 employees to save more than $75 million in 1999, and more each year after that. The current results exclude a previously announced charge of $495 million for the company's latest restructuring. Toys R Us also began redesigning stores to stock more electronics and clothing to woo shoppers during the fourth quarter, the most important period for retailers. Shares in Paramus, N.J.-based Toys R Us rose 88 cents to close at $20.81 on the New York Stock Exchange.
Other earnings, excluding one-time gains and charges unless noted:
* Breed Technologies Inc., maker of air bags, said its loss widened in its fiscal first quarter to $28.5 million, or 77 cents a share, from $4.2 million, or 13 cents, a year ago. Breed cited the summer strikes at General Motors Corp., one of its largest customers, and lower-than-expected cost savings. Sales rose 74% to $339.1 million.
* Lowe's Cos. said its third-quarter earnings rose 32% to $116.4 million, or 33 cents a share, 2 cents better than forecasts. The home improvement retailer's sales jumped 19% to $3 billion as sales at stores open at least a year grew 4.4%.
* Tiffany & Co.'s third-quarter earnings rose 5.7% to $12.1 million, or 34 cents a share, matching forecasts, as the jewelry retailer's revenue grew 8.4% to $252.6 million, largely on strong sales in Japan. Sales at its U.S. stores open at least a year fell 1%.
* Tyson Foods Inc. said profit rose 36% to $65.1 million, or 28 cents a share, in its fiscal fourth quarter, in line with estimates, as sales jumped 25% to $2.07 billion. However, the poultry and hog processor warned that exports, particularly to Russia and Asia, will continue to weaken in the months ahead.

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Latin NCAP continues to show concern and disappointment for cars produced by General Motors and sold in South America and the Caribbean, after the Chevrolet Spark GT has miserably failed to get any stars.
Assembled in India and popular among consumers in Mexico and Colombia, the city car was tested in the frontal crash test, in its most basic version that lacks airbags and proper instructions for the installation of the Child Restraint System.
“This is another disappointment from General Motors, especially in a model that has the potential to offer high protection levels, as it did when its basic version equipped with 6 airbags was tested by Euro NCAP in 2009 and scored four stars. It is unacceptable that the European version of the Spark GT, which included airbags, is offered at a similar price to the Latin American version, which has no airbags“, said Alejandro Furas, Latin NCAP’s Secretary General.
General Motors is in the middle of a scandal in South America due to its cars’ horrendous performance on crash tests. The automotive giant has been reached by Global NCAP earlier this year in an unprecedented measure, through a letter sent to the company’s CEO, Mary Barra, asking for safety improvements. In turn, GM said that it plans to spend approximately $5 billion to improve the cars it sells throughout Latin America, by fitting them with two airbags and three-point seatbelts for all occupants.


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Cyberattack on Mobile Communications
T-Mobile Data Breach Impacts Nearly 50 Million Customers
On August 16, 2021, T-Mobile confirmed “unauthorized access” to its data in a breach that has affected over 50 million customers. In an August 17, 2021 post, T-Mobile broke down the number, stating that the breach affects as many as 7.8 million postpaid customers, 850,000 prepaid customers, and “just over 40 million” former or prospective customers who had previously applied for credit with the company. At the time of publication, the company is still actively investigating the breach and assessing its full impact.
The company has confirmed “some of the data accessed did include customers’ first and last names, date of birth, SSN, and driver’s license/ID information for a subset of current and former postpay customers and prospective T-Mobile customers.” At this time, it does not appear that financial information was exposed.
The data breach was first reported by Motherboard on August 15, 2021, based on an underground forum post claiming to have obtained customer records from over 100 million T-Mobile servers. The forum post stated the compromised data includes customer account names, Social Security numbers, driver’s license information, phone numbers, and unique International Mobile Equipment Identity (IMEI) numbers of phones on the account.
Motherboard claims to have confirmed the accuracy of samples of the compromised data. According to Motherboard, hackers are selling a subset of the data — containing 30 million unique Social Security numbers and driver’s license numbers — for 6 bitcoin, or about $280,000.
Krebs on Security posted this image of a sales thread tied to the stolen T-Mobile customer data:
SHOULD I BE WORRIED?
In addition to the high number of affected customers, the concern is the amount of personally identifiable information (PII) compromised in the breach, including Social Security numbers. In this case, there is a unique risk in the leak of both the phone number and IMEI number for individual customer’s phones. This combination could result in a SIM-swap attack and account takeover.
As mobile phones have become the de facto channel for two-factor authentication facilitated through SMS text, the implications of the breach for affected T-Mobile customers can be far-reaching. There is a threat of fraudulent credit accounts and fraudulent financial account access stemming from this breach. Any account an affected T-Mobile customer has that relies on SMS one-time passcodes is at risk of having those codes redirected, which could compromise activity on their deposit and credit card accounts.
This is not the first T-Mobile data breach. According to Sontiq’s BreachIQ™ database, this is the eighth breach since 2017, meaning this organization has lost customer data at an average of more than once per year. By comparison, AT&T and Verizon have had one each in the same period. Customers and prospective customers of the company need to be aware of this record.
To determine the impact a specific breach could have on an individual’s identity, we score it on Sontiq’s BreachIQ scale. The AI-driven technology analyzes over 1,300 data points of a data breach to assess the risk level and assign a 1 through 10 score. This latest T-Mobile breach currently rates a 5.
The score is based on information released at the time of publication. As we learn more about what data may have been compromised, the score will be updated.
3 TIPS TO PROTECT YOURSELF
If you are a former or current T-Mobile customer, or you have applied for a T-Mobile account, here are three actions you should take:
- Change passwords and PIN. If you used your T-Mobile password for other sites or apps, change those passwords immediately to strong, unique, and secure passwords. T-Mobile recommends all T-Mobile postpaid customers “proactively change their PIN by going online into their T-Mobile account or calling our Customer Care team by dialing 611 on your phone. This precaution is despite the fact that we have no knowledge that any postpaid account PINs were compromised.”
- Set up credit report monitoring. Commercial credit monitoring services can spot potential fraudulent opening of new accounts or even misuse of an account that you haven’t used in a while. Many also have the advantage of potentially sending you updates based on ongoing usage, rather than relying on you to check in with them or only allowing you to get an update once a year.
- Set fraud alerts on your credit reporting. A fraud alert keeps your credit information open while advising those making an inquiry to be more cautious when using it (both for existing and new account activity), typically requiring them to take additional steps to verify the applicant’s identity. Depending on your breach history, you might also consider a credit freeze.


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Apple’s latest OS update, Mac OS X Lion, touched down at a remarkable £21 last month, but was limited to in-store and Mac App Store download sales. The latter of which is fine if you’ve got a healthy web connection, but a nightmare if you’re stuck in the dial-up dark ages.
Thankfully then, Apple have now made OS X Lion available from their online store in a physical format via a USB thumb drive.
However, it looks like Apple will be penalising anyone who doesn’t go through their Mac App Store portal, charging £55 for the stick for those who haven’t tried their desktop digital store front.
Still, we say it’s at a steep price, but that initial £21 download price was a steal to begin with we guess.
Pick it up by clicking here.


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Belarus Hi Tech Park
HTP Resident Company Apalon Gets the Title of Top Developer on Google Play
14 March 2014
Since March, 2014 the Belarusian mobile development company Apalon, along with such industry leaders as Disney, Mojang, EA Games, Twitter, and Gameloft has been chosen as a Top Developer by the Google Play team.
The title of Top Developer is a recognition of the company`s established reputation in the area of mobile applications as well as the top quality of the innovative apps for Android devices. According to the statistics provided by Google at the Google I/O 2013 conference, over 900 million Android devices have already been activated worldwide.
The Top Developer badge is not the first recognition ofApalon`sachievements on the Android market. Over the last year, such products as Weather Live, My Alarm Clock, Calculator Pro,developed by Apalon for the Amazon Appstore became the store’s bestseller and repeatedly fell into the list of applications recommended by Amazon. In 2013 Weather Live was also named among the best apps on Google Play.
The company’s portfolio on Google Play includes applications which are already popular on other platforms. Beginning its climb in 2007, Apalon specialized in games and apps development for customers. After the release of iPhone and App Store the team focused on iOS apps development; and their first product Atomic Checkers was marked by Apple in all the categories of Apple Web Store.
The products released by Apalon for the App Store repeatedly held high rankings all over the world and won awards in different categories. E.g.Pimp Your Screen, a top application for screen customization, Weather Live, an innovation animated weather application, and Pimp Your Sound, a program for creating unique ringtones – all were recognized as the best applications in their categories at Best App Ever, Readers Choice Award (About.com), iTunes Rewind, FWA. They were also marked by Apple as recommended applications for iTunes users. In 2013 the application Calculator Pro for iPad entered the list of the most downloaded applications for the 5 years of the App Store s existence.
The talented team, promising ideas, and huge experience enable Apalon to be among the leaders on the mobile market.


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According to Make UK, more than half of manufacturers have been victims of cybercrime in the past year and many have lost thousands of pounds as a result.
The body, which is the largest of its kind to represent UK manufacturers, found that 63 percent suffered losses of up to £ 5,000, while nearly a quarter (22 percent) revealed a cost to their business between £ 5,000 and £ 25,000.
With many employees forced to work from home since the lockdowns started in March 2020, 50 percent of companies said cyber security has since been given a higher priority.
But more than half of manufacturers (59 percent) cited cost as the biggest barrier to strengthening security, while 43 percent were asked by a customer or supplier to demonstrate or ensure the robustness of their cyber security.
The automotive sector has been hit particularly hard: 62 percent of companies were cyber attacked in the past year because of their lucrative IP.
In its report, Cyber Resilience: The Last Line of Defense, Make UK said the pandemic has “catapulted” cyber security to the forefront of governance agendas.
About 50 percent of manufacturers said cyber security has been a higher priority since the start of the Covid outbreak. “Digitization is revolutionizing modern manufacturing and has no doubt successfully sustained it over the past year,” said Stephen Phipson, CEO of Make UK.
“The rewards are clear: technological leaps in the design, development, manufacture and operation of the goods and services the UK makes. But the cyber security threat to manufacturers grows and evolves with it.
“No company can afford to ignore this issue and while the increased awareness in the industry is encouraging, there is still much to be done with too many companies still burying their heads in the sand.
This is a strategic threat; If not done properly as a nation, it could cost the UK economy billions of pounds and put thousands of jobs at risk. Every business is vulnerable and every business must take the necessary steps to properly protect itself. “
Make UK also found that investments in the latest digital technologies are being held back due to fears that they could open the door to a greater risk of cyber-attacks.
One in eight companies surveyed admit that they are currently not investing in new digital processes, even though they know they need to to compete.
In February, the National Cyber Security Center started offering personalized cyber security support to companies in the form of a “Cyber Action Plan”.


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Remodeling is excited to announce that its popular Facebook page has been nominated for an industry blogging award from Jackson Design & Remodeling! The JDR Blogger Awards, now in its fourth year, was developed by the San Diego-based company as a way to promote industry professionalism.
“We believe in embracing innovation and excellence,” the company said in a statement. “We’re hoping that the JDR Blogger Awards will bring additional recognition to the work of our favorite bloggers, while supporting our efforts to promote the professionalism of the remodeling industry and keep our clients informed about the latest trends in home design.
The Remodeling Facebook page, as well as senior editor Lauren Hunter’s Twitter feed were both nominated for Best Microblog, a new category recognizing the social media’s increased importance in the world of blogging and in the remodeling industry. Other categories include best blogs in architecture, construction business, remodeling, interior design, and green. Visitors to the JRD website can vote for one blog in each category (one vote per person, per category, please).
Voting for the JDR Blogger Awards will continue through April 12. Winners will be announced on April 17 and will receive a $500 prize and JDR Blogger Awards Winner badge for display on their blog. If either the Remodeling Facebook page or Lauren’s Twitter feed win for the microblog category, the award will be donated to remodeling industry organization.
More about Jackson Design & Remodeling
Big50 2005: Jackson Design & Remodeling
7 Essential Systems: Design
Pebbled Paths: Examples of floor accents that add texture and detail


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Google has released the first developer preview of Android 11, although this preview of Android 11 has been released only for the Pixel smartphone. At the same time, the launch of Android 11 for common users will be in May of 2020. It is being said that the beta version of Android 11 will launch at Google’s annual I/O 2020 event.
Android 11 Developer Preview Features:
As it is the first developer preview of Android 11, it does not have some special features at the moment, but the feature of the five-screen has been added to it. Apart from, Google has also supported the waterfall screen in it and focused on 5G in Android 11. There is also a focus on privacy. For example, you will have control over the permission given to the app when you are giving access to it and anything.
In the first preview of Android 11, the screen recorder has been given, which will be activated with the Quick Settings toggle. One major change has been that Bluetooth will turn off automatically when flight mode is turned on. Apart from this, Google has also made some changes in the way of taking screenshots.
These Smartphones are Getting Android 11 Preview Update
Talking about phones with Android 11 support, just like every time Google has released a preview of Android 11 only for Pixel phones. In such a case, users of Google Pixel 2, Pixel 2 XL, Pixel 3, Pixel 3 XL, Pixel 3a, Pixel 3a XL, Pixel 4 and Pixel 4 XL can download the developer preview of Android 11.


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Monday marked a big day for development in Huntsville, as ground was broken for the Arcadia, a new mixed-use development coming to one of the city’s busiest areas.
The new development is located on the corner of Bradford and Wynn Drive in the heart of Cummings Research Park. Here are more details:
Details on the Arcadia
The Arcadia will be located on one of the busiest corners in the city and will be right across the street from the new Alabama School of Cyber Technology.
Once complete (sometime in 2024), floors 2-5 of the building will contain 231 residential units, while the first floor will offer:
- 17,350 square-feet of commercial ground floor space.
- 11,575 square-feet of co-working/office space and retail space.
- 5,775 square-feet of restaurant/retail space.
Who’s building and leasing the development?
The mixed-use structure is being developed by Bobo Development Group, Retail Specialists, and Boaz Ventures. Capstone Building Corporation has started construction on the development, which is designed and engineered by Williams Blackstock Architects.
“With Huntsville’s current and projected growth, this new project is breaking ground at a perfect time. Arcadia is coming to the market as Huntsville continues a population boom creating demand for housing. The retail and restaurant amenities that will accompany the residential units at Arcadia are ideal for someone that wants to live and work in a high-end development.”James Bobo, chief executive officer at Bobo Development Group
Residential and commercial units are slated for late 2024, according to a statement from Retail Specialists.
“This development will be a significant one for Huntsville and Cummings Research Park. We hope it acts as a catalyst for continued growth in the area.”Robert Jolly, chief executive officer of Retail Specialists


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Qurate Retail Group has named Leslie Ferraro president of QVC and HSN, the company’s largest business unit, now called QxH.
Ferraro will begin her new job on Sept.16 and report to Mike George, president and chief executive officer of Qurate Retail, the company announced Tuesday.
In a statement, Qurate said Ferraro’s primary focus will be “to advance the company’s growth strategies by leveraging the power of video, storytelling and curated retail experiences on new and next-generation platforms.” A Qurate spokeswoman said George’s responsibilities remain the same.
Last year, QVC generated $6.3 billion in revenues and HSN generated $2.28 billion revenues, for a combined $8.58 billion in volume.
Ferraro was most recently co-chair of Disney Consumer Products and Interactive Media and president of Disney Consumer Products. She worked at Disney for 17 years. Given her strong background and one that’s relevant to Qurate’s mission, she could be considered a possible successor to the 57-year-od George one day. The company spokeswoman had no comment on any succession planning.
“Leslie’s extensive experience driving growth and innovation, particularly her impact on a global scale at Walt Disney Parks and Resorts, the world’s preeminent experiential brand, fits perfectly with our focus on delivering the world’s most engaging shopping experiences across all platforms and devices,” said George. He added that Ferraro’s track record of advancing consumer-centric initiatives will be important in Qurate’s efforts to get consumers to engage with QVC and HSN and “discover a new way to shop.”
Reporting to Ferraro will be Mary Campbell, Qurate Retail’s chief merchandising officer and chief commerce officer for QVC U.S., and Mike Fitzharris, president of HSN.
At Disney, Ferraro led the Disney Store and retail businesses and a global organization that delivered products across the toy, book, home and apparel categories, connecting audiences to Disney, Pixar, Star Wars and Marvel brands.
Earlier at Disney, Ferraro served as executive vice president, global marketing, sales and travel operations for Walt Disney Parks and Resorts. Before Disney, Ferraro worked at McCann-Erickson advertising and Johnson & Johnson, the health-care products company.
She characterized her mission at Qurate Retail as elevating the QVC and HSN brands and “accelerating the implementation of strategies that will cement our position as a leader in experiential retail.”
The Qurate Retail Group comprises QVC, HSN, Zulily, Ballard Designs, Frontgate, Garnet Hill and Grandin Road. The formation of the Qurate Retail Group is a result of Liberty’s acquisition of HSN in December 2017.


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Carl Pei says reports about Nothing Phone (1) Lite are “fake news”
- Carl Pei has denied reports that the company is working on a Lite version of the
- An earlier report had suggested that a “Lite” version of the
Nothingphone (1) is in the works.
- The report had suggested that the device would ditch its most popular feature – the Glyph Interface.
AdvertisementCarl Pei-led Nothing Technologies recently launched their Nothing phone (1), the company’s first Android smartphone and one of the most hyped launches of the year.
Soon after its launch, a report by The Mobile Indian suggested that the company is working on a new device. The report had claimed that it will be a “Lite” version of the nothing phone (1).
Responding to a tweet by Android Police on the story, Carl Pei has denied that the company is working on a “Lite” device. Pei responded to the tweet with the words “Fake news.”
Fake news https://t.co/7Au5UP1FEW— Carl Pei (@getpeid) 1659586234000
The report suggested that the “Lite” phone in the works will be offered at an affordable price with a starting price of ₹24,999. To recall, the Nothing phone (1) is priced starting at ₹32,999.
The report added that the device would ditch the device’s most iconic feature, the transparent back with the Glyph Interface. Another feature that was reportedly removed was wireless charging. The above two features are among the most popular features on the Nothing phone (1), and separate the device from the rest.
The report added that the “Lite” version would retain the rest of the specifications, such as the display, the processor, and the cameras. The battery was reported to receive an update. It was expected to be powered by a 5,000mAh battery.
It makes sense for Pei to come out and deny the report as a device with such a huge price difference has the potential to affect the sales of the Nothing phone (1), even if it does not feature the Glyph Interface.
Google Pixel 6a vs Nothing phone (1) – price, specs and features compared
OnePlus 10T Review: Toned down flagship with unbelievably fast charging
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NOTICE:Check out my awesome new project over at www.zettai.moe!
February 2, 2015
The Pirate Bay is back, but future uncertainties.
Posted by Diluen Cheong
Piracy site The Pirate Bay has come back online after two months of nothing.
According to TorrentFreak, the site re-appeared Saturday with "minimal" data loss, but some pages result in 404 errors, PC World reported.
The site came back online a day earlier than expected as the company had set February 1 the return of the site was for scheduled for February 1.
The report further said that the site's staff could no longer access the moderation panel, and that doing so "would make the site easier to manage and the risk of being brought down for a third time.
Right now, it is uncertain who is running the show in the background and what will happen to it in the future. For now, it's better to wait a little while longer and see.


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Fewer Gmail Users Are Opening Retailers’ Messages This Shopping Season
Some e-commerce marketers are having a challenging holiday season, and they blame Google for it. A change to Gmail that relegated retailers’ emails to a separate inbox for promotions has had a big effect during the busiest shopping period of the year, according to three services that manage mass emails. And another change to Gmail, involving the way it shows images in messages, made it harder for retailers to track who opens their emails. Google says it made the changes to improve the service for users, and that the changes could also be advantageous to marketers.


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Events 10 months agoStephanie Tower
The Ultimate Fintech Summit Summary
Thought leaders and decision makers from the fintech industry in the Philippines recently gathered at the Marriot Hotel in Manila for The Ultimate Fintech Summit.
Organized by Asia CEO Events, the summit aimed to present movers and shakers who are breaking barriers to financial access in the Philippines and the rest of the world.
Over 200 participants from fintech and digital sectors were welcomed by Richard Mills, chairman of Asia CEO Events, to a whole day of sessions focusing on financial inclusiveness, payments, mobile, retail, marketing and data, as well as the topic that most people are curious about—blockchain and cryptocurrencies.
This summit served as the gateway for the fintech community in Manila to learn more about the use of blockchain and cryptocurrencies such as the Bitcoin Cash. Jimmy Nguyen, CEO of the blockchain research and development firm nChain Group, opened the sessions with his winning presentation on how Bitcoin Cash will power the future of Bitcoin commerce (bCommerce). Nguyen explained the reasons merchants should adopt this cryptocurrency—like easier, faster and lower transaction fees—and also pointed out that bitcoin should not be perceived as anti-bank or anti-establishment.
“Businesses in all sectors, whether you’re a bank, payment services provider, technology company, companies in all industries, I’m here to tell you, should be embracing their role in this bCommerce world,” Nguyen explained.
Meanwhile, Israel Keys of Bloom Solutions spoke about his company’s use of the blockchain tech and cryptocurrencies alongside traditional compliance tool for remittance, explaining this technology has helped on reducing costs and faster disbursements of funds.
TagCash’s CEO Mark Vernon also presented his blockchain-based digital wallet which offers various solutions for merchants and individuals under one platform.
Blockchain, the technology underpinning cryptocurrencies like legacy Bitcoin (BTC) and Bitcoin Cash, has been a boost to tech companies and digital services. And as the worldwide adoption of blockchain technology grows, more companies are adopting the technology for ease and more seamless processes.
Lito Villanueva, managing director of FINTQnologies under the PLDT Group and running the largest digital lending business in the Philippines, shared how his company has considered including blockchain in the pipeline of their business agenda. He shared that it’ll be part of their re-engagement and initiatives within the year.
“I think this [blockchain technology] will hasten the process in terms of facilitating greater efficiencies,” Villanueva said.
Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper. Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Satoshi Vision (BSV) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BSV is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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Vietnam’s engineer shortage a hurdle in US chip hub plan
- US investing in Vietnam’s chip sector as chip war with China stays hot.
- A shortage of engineers in Vietnam is an increasingly pressing problem in the growth of the country’s semiconductor industry.
- Vietnam is currently the third largest chip supplier to the US, behind Malaysia and Taiwan.
Another day in the chip war: the US has plans to fast-track Vietnam as a chip hub to hedge against China-related supply chain issues, and semiconductors are expected to be a focal issue when US President Joe Biden visits Hanoi from September 10th.
The goal of the visit is to formally elevate ties between the two nations, and Vietnam will be offered support to boost chip production, according to US officials. “Friendshoring” segments on the strategic semiconductors industry has been a key move by Washington in persuading Vietnam’s communist leaders onboard.
Due to fear of China’s reaction, Hanoi has been reluctant to upgrade relations with the US. However, boosting formal ties between the two countries will be profitable, potentially bringing billions of dollars of new private investment to Vietnam’s chip industry.
Standing in the way of all this is a massive shortage of engineers in Vietnam. According to industry officials, analysts and investors, the pool of trained experts is small and will be a crucial hurdle for development of Vietnam’s chip industry.
“The number of available hardware engineers is way below what is needed to support multi-billion-dollar investments” – about one-tenth of expected demand over the next 10 years – said Vu Tu Thanh, head of the Vietnam office of the US-ASEAN Business Council.
In five years’ time, it’s expected that there will be demand for 20,000 chip sector engineers in the 100-million-populated country; in a decade, that number is projected to reach 50,000. Currently, Vietnam only has 5-6,000 trained hardware engineers available for its semiconductor industry.
Adding to the issue is a risk of an inadequate supply of trained chip software engineers, said Hung Nguyen, senior program manager on supply chains at RMIT University Vietnam.
According to Vietnam government figures, exports from the Southeast Asian country to the US are worth more than half a billion dollars annually. The nation is currently focused on the back-end manufacturing stage – assembly, packaging and testing of chips – of the supply chain, though it will slowly branch out into areas such as designing.
US industry executives have indicated that the back-end segment of the chips industry in Vietnam is a key growth sector, but the White House hasn’t yet specified which segments will be prioritized.
Moving out of China – choosing sides in the chip war
In 2019, nearly 40% of global back-end manufacturing happened in China, compared to just 2% in the US. A further 27% went on in Taiwan, where China has increased its military activity, stoking fears of conflict outbreak – an actual chip war!
With so much of the assembly segment of the chip supply chain concentrated in close quarters, Beijing has a very commanding position. In no other segment does it have such an upper hand, despite Intel having operated its biggest factory for assembling, packaging and testing chips in southern Vietnam for 15 years.
On a visit to Hanoi last month, US treasury secretary Janet Yellen said rival Amkor is building “a state-of-the-art mega factory for semiconductor assembly and testing” near Hanoi, in a sign of growing interest.
If a significant share of the $500 million made available under the US CHIPS Act goes to Vietnam, more private investment could come too. The US might also have an interest in boosting Vietnam’s supply of raw materials for chips, especially rare earths, of which the country is estimated to have the second largest deposits after China.
The country is also making inroads in the smaller segment of chip designing. U.S. chip design software company Synopsys has operations there, rival Marvell plans to build a “world-class” centre, and local firms are expanding.
Vietnam is also attracting interest from manufacturers of chip-making machines and has flagged ambitions to build its first semiconductor manufacturing plant, or fab, by the end of the decade.
All of which speaks in favor of Vietnam becoming a crucial player in the chip wars of the 21st century – provided it can crack its engineer shortage in time.
China and Vietnam. #ItsComplicated.
6 March 2024


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A German data protection authority contends Facebook is tracking users even after they delete their accounts, and it wants the company to respond to this potential privacy violation by Monday.
It's clear that companies are increasingly using social networking to connect with customers--Facebook said brands on its site get 100 million "likes" per day--but it's also clear that they are having varying degrees of success.
Facebook's fake account detection mechanisms can be defeated 80 percent of the time with the help of automated tools, researchers from the University of British Columbia (UBC) have found after an eight-week test.
Facebook has apparently fixed a vulnerability in its social-networking site after insisting it wasn't a weakness and didn't need to be remedied.
Facebook plans to shut down the Beluga mobile messaging application it acquired earlier this year, after launching a similar, native service called Facebook Messenger that's based in part on the Beluga technology.
Facebook downplayed an alleged vulnerability in its social-networking site that could allow a hacker to send a potentially malicious file to anyone on Facebook.
By launching the Open Compute Project as a stand-alone foundation, Facebook is hoping to further standardize the market for data center equipment, thereby reducing costs and vendor lock-in, the new foundation's board members said at a press conferenc...
New social engineering attacks are tricking Facebook users into exposing anti-CSRF tokens associated with their sessions. These security codes allow attackers to make unauthorized requests through the victim's browser.
A security penetration tester discovered a major flaw in Facebook that could allow a person to send anyone on the social-networking site malicious applications.
Facebook has begun building a data center in Lulea, Sweden, where it will benefit from cheap electricity and year-round free air cooling, the company announced Thursday.
An upcoming version of U.S. legislation designed to combat copyright infringement on the Web may include provisions that hold online services such as Twitter, Facebook and YouTube legally responsible for infringing material posted by users, according...
Over the weekend I wrote an article titled "What If Steve Jobs Is Right?" As the title implies, the post was a hypothetical look at the possibility that Steve Jobs' assertion that Android is a "stolen product" is true.
Yahoo's improving stock price following a CEO shakeup makes the Internet portal ripe for a sale, and speculation is flying about industry titans that may bid for the company.
Facebook, the U.S. Department of Labor, and some other organizations are partnering to help jobless people in the country find employment through social networks.
China on Thursday responded to U.S. concerns about its blocking of company websites, saying that China's Internet policies are open and clear. However, China said it objected to the U.S. exploiting the issue of Internet freedoms to interfere in its i...
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Wholesale Prices in U.S. Increased in June as Fuel ClimbedVictoria Stilwell
Wholesale prices in the U.S. climbed more than forecast in June as the cost of fuel picked up.
The 0.4 percent increase in the producer-price index followed a 0.5 percent gain in May, Labor Department figures showed Wednesday in Washington. The median forecast of 70 economists surveyed by Bloomberg called for a 0.2 percent advance. Costs fell 0.7 percent over the past 12 months.
A broad pickup in prices would help strengthen the case for Federal Reserve policy makers to start raising interest rates this year, as Chair Janet Yellen has indicated could be appropriate. The plunge in oil costs last year may wring itself out of the data in the coming months, helping to boost the inflation figures further.
“The profile of inflation heading into the second half of the year will actually look quite a bit more favorable,” Gennadiy Goldberg, a U.S. strategist at TD Securities USA LLC in New York, said before the report. That should work in the Fed’s favor, because “it’s much easier to communicate the need for a rate hike when inflation is starting to climb.”
Projections in the Bloomberg survey ranged from a drop of 0.2 percent to a 0.5 percent gain.
Energy expenses rose 2.4 percent last month, paced by higher gasoline costs.
Food prices increased 0.6 percent in June, reflecting a record 85 percent surge in the cost of chicken eggs as the bird flu epidemic crimped supply.
Wholesale prices excluding food and energy increased 0.3 percent, compared with the 0.1 percent gain seen by the median forecast of economists surveyed. It followed a 0.1 percent increase in May. Those costs were up 0.8 percent from June 2014.
Also eliminating trade services to arrive at a reading that economists at banks such as Morgan Stanley prefer because it excludes one of the report’s most volatile components, wholesale costs also climbed 0.3 percent last month after falling 0.1 percent.
The produce price gauge is one of three monthly inflation reports released by the Labor Department, which also publishes the import cost measure and the consumer price index, which is expected on July 17.
A report Tuesday showed the cost of goods bought abroad dropped in June, restrained by cheaper automobiles. The import-price index declined 0.1 percent last month after advancing 1.2 percent in May, according to Labor Department figures. Import prices were down 10 percent from the year before.
As part of their dual mandate, Fed policy makers are keeping a close watch on inflation trends. The personal consumption expenditures index, the Fed’s preferred inflation gauge, rose 0.2 percent in May from a year earlier and has been below the Fed’s 2 percent goal since May 2012.
Yellen expects “that it will be appropriate at some later this year to take the first step to raise the federal funds rate and thus begin normalizing monetary policy,” she said in a speech last week in Cleveland. She also added a note of caution, saying that “the course of the economy and inflation remains highly uncertain, and unanticipated developments could delay or accelerate this first step.”
Yellen on Wednesday begins her semi-annual monetary policy testimony to lawmakers, who may pepper with questions about the economic and monetary policy outlook.
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Mobile marketing and advertising platform BeaconStream is to pilot iBeacon technology in malls in Bengaluru and Chennai, India, within the next three weeks, The Hindu reports. “If a customer visits a mall, the beacon will alert about the proximity and the particular brand can send offers or run a immediate marketing campaign to convert that footfall into sales,” says CTO Gautam Mandewalker.
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Simplestream receives £500,000 of additional financingThursday, October 5th, 2017
Leading TV streaming services provider receives six-figure lending package
Simplestream, innovators in live and on-demand over-the-top (OTT) TV services, has received a £500,000 finance package from Clydesdale and Yorkshire Bank’s Growth Finance team to assist with further investment and international expansion.
The London-based company is going through a stage of significant growth and this most recent round of funding will allow Simplestream to increase sales and development to enhance its international capacity. The company’s market leading offering is already used by industry leaders including QVC, Sony and News Corp.
Simplestream currently employs 30 people in its London office and will be expanding to create a presence in both the US and mainland Europe.
Adam Smith, founder and CEO, Simplestream said: “It’s a hugely exciting time for us and the new funding will enhance our ability to grow the business and explore new, international markets. Our business is built on innovation, service and delivery and it was great to work with a partner who understood our vision and ambitions and was able to deliver the right solution at the right time.”
The deal was delivered by Christopher Kennedy from Clydesdale and Yorkshire Bank’s Growth Finance team, a specialist UK-wide team that provides senior lending for innovative and rapidly expanding businesses with strong intellectual property assets and existing venture capital.
Christopher Kennedy, Associate Director, Growth Finance, Clydesdale and Yorkshire Banks, said: “Adam and the team at Simplestream have shown huge determination and vision to build the business and we were delighted to have the opportunity to work with them. Over the next 3 years we’re making £6 billion of lending available to SMEs around the country to support the growth ambitions of businesses like Simplestream.”


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Last week, Jonah Bloom wrote an interesting article for AdAge about the new-found acceptance of PR. Apparently, there was a lot of positive comments about PR from Unilever CMO Simon Clift and Union Square Ventures honcho Fred Wilson at the recent Ad Age Digital Conference. The idea here is that social media is raising the importance of PR within the marketing mix
"There are still a lot of marketers out there buying their media when they could earn it, and earn it a lot less expensively," he said today at Ad Age's Digital Conference in New York.He goes on to point out that:
While overall spending on marketing may go up, traditional-media outlays are declining, and spending is growing on the creative and technology necessary to implement social campaigns on Facebook, Twitter and MySpace. Agencies have to find a way to continue to make money in this environment.
"The total amount of money flowing out of marketers' pockets to agencies won't decline and will likely go up, but the mix is headed for important changes," Mr. Wilson said.
The challenge for marketers and agencies, then, is to engage with social media in an authentic way, and know they are going to be punished by its denizens for any perceived spam.
Which, I think, is missing the point. The problem is earned media in the past was that were was no solid ROI for any dollar spent on PR. Yes, everyone knew that an article in a trade mag or coverage on CNBC would yield awareness and credibility, but no one on earth could track just how that turned into sales and profits.
Simon Clift is the top marketer at one of the largest (if not the) consumer products companies in the world. One of his main points is that (emphasis added by me)
"brands are now becoming conversation factors where academics, celebrities, experts and key opinion formers discuss functional, emotional and, more interestingly, social concerns," and "of course, the conversation is no longer one way or 30 seconds. ... You may want to talk about sport and just doing it, and the consumer raises the uncomfortable question of sweatshops."That's the whole point! Ongoing one-to-one conversations isn't marketing, it is relationship selling. Selling that has to be credibly earned. That isn't a intrusion. That can be tracked over time. That you can assign a ROI to. The transformation of the PR profession from pitching media to sitting at the intersection of sales, marketing and customer service.
I just don't think either of these three fellows quite gets where we are headed.


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In March, our feed was full of news related to the Competition and Markets Authority (CMA). VRPs and open finance are important topics in 2022 as the ecosystem discusses the future of open banking.
The CMA and VRPs for sweeping
Whilst the CMA mandated the use of Variable Recurring Payments (VRPs) in July 2021, the schedule was revised as most of the banks did not have a realistic prospect of meeting the original deadline of January 2022.
Sweeping has many benefits, such as moving money between accounts to avoid using an overdraft. managing loan repayments by moving money from a current account or another form of credit, as well as moving money to a savings account that pays interest. Sweeping is one aspect of helping businesses deliver better outcomes for customers. Ultimately, it allows for improved money management, ensuring people take advantage of favourable interest rates and overdraft alternatives.
However, the CMA clarified that sweeping cannot be mandated for moving money to pensions or other investment products. Additionally, it cannot be used for purposes like e-commerce, cryptocurrency, gaming, gambling, or other international money transfers. Charlotte Croswell, Open Banking Implementation Entity Chair and Trustee said that the entity welcomed the clarity provided by the CMA. She added that it is looking forward to the new sweeping propositions coming to market later in 2022.
With this clarification, VRP will change open banking innovation. Nonetheless, this innovation can only happen as more VRP APIs become available. This will allow for greater experimentation and use cases.
Who will take over from the CMA?
Undoubtedly, the biggest news of March was the announcement of an entirely new Joint Regulatory Oversight Committee (JROC). The JROC will oversee the governance of open banking, taking over from the CMA. In this role, it will determine the regulatory framework of open banking and open finance.
The statement was published at the end of March by the HM Treasury, the CMA, the Financial Conduct Authority (FCA) and Payments Service Regulator (PSR).
According to AltFi, the JROC will help transition the OBIE into a new entity. However, some open banking providers said the current mix of regulations made it difficult, if not impossible, for FinTechs, banks and providers to plan. Open banking providers called for the creation of a formal open finance framework. It’s clear that additional guidance will decide the future role of the OBIE. This will help accelerate adoption and promote better access to products and services across the ecosystem.
Other providers called for the development of variable recurring payments (VRPs) beyond sweeping. Furthermore, this will promote competition and give UK consumers a wider selection of financial services products and services.
Whilst the ecosystem welcomed the news, questions remain about the future of open finance.
Revolut comes to Ireland
Following its expansion across Europe, Revolut is now available to over 1.7 million Irish customers. In other words, this represents about a third of the country’s population.
In 2021, the European Central Bank awarded Revolut a full banking licence, which it will use in Ireland as opposed to the e-money licence it secured from the Central Bank of Ireland. By launching the bank in Ireland, it will provide greater levels of security and confidence for its Irish customers. Furthermore, the launch will allow the bank to release new products and services.
The bank is now live in 30 countries. With over 18 million customers globally, it claims the title of one of the fastest-growing FinTech companies in Europe. As a result, its customer-centric approach has allowed it to grow quickly. With no hidden fees, Revolut is continually building new financial products.
Apple acquires Credit Kudos
Apple’s acquisition of UK-based FinTech Credit Kudos is predicted to accelerate payments and innovation in the ecosystem. Open banking technology allows lenders to access consumers’ financial information. This helps them make more informed decisions. According to Business Insider, Apple has plunged deeper into payments over the past few months as it expands its capabilities to drive revenue in a ‘high-growth’ market. Global payment revenue will reach $2.9 trillion in 2030, after achieving $1.5 trillion in 2021.
Mastercard launches open banking tools
Mastercard is launching a pair of open banking tools to improve predictability and transparency in digital account-to-account payments for merchants. These tools include the Payment Success Indicator and Payment Routing Optimiser, which use data analytics and machine learning for an improved payment experience that is both safer and smarter. Whilst these tools will be available later in 2022, Mastercard’s tools will reduce returned payments, improving customers’ digital payment experience.
NatWest enters the BNPL sector
NatWest plans to launch its own ‘buy now, pay later’ scheme, which makes it the first high-street bank to move into alternative credit. The scheme allows customers to split their purchases into several payments, which mimics the experience of Klarna and Clearpay, but is safer. The bank will put in safeguards to ensure lending is affordable and that transactions will be covered by all the protections granted by a fully regulated bank. As a result, credit scoring and affordability checks will also be included.
In late 2021, Barclays announced that Amazon’s UK customers can apply for a reusable credit account from Barclays to spread the cost of purchases in equal monthly instalments. Without a doubt, the BNPL sector shows no signs of slowing down. More than 2.5 million new people in the UK used a BNPL service over 10 months in the last year alone. However, concerns remain about alternative lending as it encourages people to spend more, leading to greater debt. Nonetheless, this will change as the FCA steps in to regulate the sector.
Additionally, NatWest made headlines with its Carbon Tracker app, a pilot geared to SMEs in manufacturing and transportation, helping them find ways to reduce their footprint. The bank launched its carbon tracker for retail customers in 2021.
Follow us on LinkedIn. We’d love to hear your thoughts about open banking growth in the UK.


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From crypto to virtual land, Philipp Plein is all in.
One would be hard-pressed to find another fashion designer as excited about the digital world and its tools and Plein, president and chief executive officer of his namesake group, was among the first to fully embrace the potential of the metaverse.
His company opened up to cryptocurrencies last year, accepting more than 20 types as means of payment both in its brick-and-mortar stores and on its e-commerce, which the designer is proud to say is managed directly in-house. “We never outsourced it, never worked with an agency, so we have a lot of knowledge,” Plein said at the WWD Metaverse Symposium in Paris.
“Many talk about the new technology, but few are actually using it,” said Plein. “At first, I thought cryptocurrencies sounded cool and fashionable, I didn’t really believe in crypto. We started as an experiment, but now I do. And there is a big future for this kind of payment method. I also believe in the metaverse, NFTs and Web 3.0, which stand for a new beginning, a new era.”
The German designer differentiated between “users and abusers” of cryptocurrencies, with the former using them for “daily transactions.” He included his mother as one of the latter. “My mother, who is close to 70, she owned crypto even before me, but she does not know how to use them as currency, she’s just waiting to sell them to make a profit, which is something I would not recommend now” given the steep decline in their value recently.
Plein said he’s seen 77 percent of transactions on his site and in his stores made with Bitcoins and Ethereums, the first and biggest cryptocurrencies used. “There is a big future for this kind of payment method,” he argued, citing other brands and platforms that have been accepting cryptocurrencies, from Gucci and Off-White to Farfetch, which is a positive in his opinion.
“It’s a good beginning and we must educate consumers, although there are 35 countries where cryptocurrencies are prohibited.” The U.S. is the market where crypto payments are most used by his customers, followed by Germany, Spain, Italy and Austria.
Plein insisted on “user-friendly” web procedures, which “must be easy and simple, consumers are lazy, it must be as simple as using an iPhone.”
This also is because those paying in crypto are willing to spend more, he contended. Of the brand’s 100 million euros in sales, 3 percent of transactions are paid in cryptocurrencies.
Plein’s average order value is 600 euros and it spikes 85 percent higher when paid in cryptocurrencies. Also, he said 73 percent of customers using cryptocurrencies are new to the group, which comprises the Philipp Plein brand, founded in 1998, Plein Sport, which is being revamped and was launched in 2018 and Billionaire.
In February, the Plein Group purchased a plot of land in the Decentraland metaverse, the 3D virtual reality platform powered by the Ethereum blockchain. “Nobody knows if Decentraland will be the leader but it gives us opportunities, there are less boundaries than other worlds,” explained Plein.
The fashion company, which is based in Lugano, Switzerland, bought the estate for a price of 510,000 Manas — Decentraland’s own cryptocurrency — corresponding to approximately $1.4 million.
Dubbed Plein Plaza, the estate is claimed to be situated in a prime location directly overlooking one of the Genesis Plazas, framed and accessible from two roads, and covers 65 Decentraland parcels, the equivalent of about 176,528 square feet in the real world.
Plein admitted that this was an investment that will not bring him a financial return.
“I will never see this money again, I lost the $1.4 million for sure. The investment was in knowledge and education, as if we were paying for college or private classes. We can learn and try things that others are just talking about or never heard about. Being first has its advantages,” Plein contended.
He recounted how his mother, with her love of fashion that she has passed on to the designer, embodies Plein’s consumer and how she was “skeptical” about this purchase.
“If I cannot convince her I cannot convince my clients,” said Plein about changing consumer attitude to the metaverse. He compared Decentraland and the metaverse to a “playground where people can try things. We are at the beginning of something huge and amazing and we cannot imagine what the metaverse will do to us.”
Plein is building one out of three skyscrapers to house MoNA, or Museum of NFT Art, where digital artists will be invited to showcase their creative output. “It’s about having fun.”
In February, the designer christened the revamped Plein Sport line as the first “metaverse-native” fashion line. Guests at the brand’s show during Milan Fashion Week were greeted by a humanoid robot called Romeo 1.0. For the occasion, the brand dropped a see-now-buy-now range of 10 sneaker styles, each coming with an NFT counterpart.
In April, Plein opened a lime green crypto pop-up on Bond Street in London that offers prices in alternative digital currencies, an NFT art gallery and a free trading platform for metaverse art. Each product carries a QR code that contains the price in pounds, and in 25 cryptocurrencies. Digital currencies fluctuate every five minutes, so prices can be hard to pin down. With the QR code, customers paying with crypto can see the latest price, and pay on the spot.
“We want to make sure you pay the right price and we want to manage your returns so that you get the same amount,” said Plein.
“The metaverse will go up and down like cryptocurrencies, but it will be much faster than you can imagine today.” He conceded that the “amount of users is very small,” and that not many people know what the metaverse or an NFT is, but luxury brands, which were slow to embrace online commerce, “don’t want to make the same mistake” with these new technologies, he remarked.


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Apple has been in hot water for the last few weeks after the company admitted that it sometimes reduced processor speeds on iPhones with aging batteries as a way to balance performance and battery life. Today, the company is apologizing for not being more transparent with its customers and released more details on how exactly iOS manages battery and performance. That, however, hasn't stopped several lawsuits, from the US to France.
Early 2017 brought us legitimate contenders for game of the year in The Legend of Zelda: Breath of the Wild, Horizon Zero Dawn and Persona 5 -- and that's not to mention Resident Evil's return to form. Now the year is almost over, and we've had a stunning Mario game, another great Wolfenstein title and even an Assassin's Creed game that exceeded all expectations. We pick out the best of this year, and also take a look at what's just on the horizon.
According to Russian deputy prime minister Dmitry Rogozin, the Roscosmos agency lost a $45 million satellite last month because of an unfortunate error. On Russian TV, he said the Meteor M was set to launch from the Baikonur cosmodrome instead of where it actually launched, from Vostochny. Roscosmos has more generally blamed the loss on problems with an algorithms, but it's still a reminder to always double check your settings.
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If you’re a fan of seasonal flavors, there are plenty of fall-themed desserts to try for a limited time at Disney Springs.[Read more…]
Tanaka Farms, a family-run farm in Orange County, Calif., has teamed up with Sanrio for the second year in a row to host a Hello Kitty-themed pumpkin patch.
As the autumn season approaches, guests visiting Walt Disney World can try a whole slew of new seasonally-inspired bites with WonderFall Flavors at Disney Springs.
Guests can celebrate all things fall in Hershey, Pa. with family-friendly offerings and themed events throughout October and into November.
This past week, Dolly Parton announced a huge 2018 entertainment lineup for her Dollywood theme park in Pigeon Forge, Tenn. [Read more…]


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At least one Wall Street analyst this morning is telling its clients -- although as usual, Google isn't saying much -- that the search giant is in fact probably not working on its own brand of mobile phone, but instead is developing mobile software.
This despite a minor frenzy on gadget boards, complete with "leaked" photos, of the alleged GPhone.
As I said just a few days ago, print any rumor about how Google is about to enter a market and tech enthusiasts (as well as a healthy chunk of the tech press) will go nuts.
This (non)news should surprise exactly no one. In fact, focusing on mobile extensions of its software products is one of the most non-revolutionary, business-like things Google could be doing at this moment. Think of all that AdWords inventory.


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Black Friday 2017 – online retail sales results
The amount spent on UK online retail sites on Black Friday 2017 was up +11.7% to £1.39bn, according to data from IMRG. This was ahead of the original forecast of +9% growth for the day.
Of that spend, 39% was completed on a smartphone, with the device taking the highest share of sales against desktop and tablet. While this is not the first time this device has accounted for the highest share, it is unusual given Friday was a standard working day (people tend to use the device of most convenience, and many would have had access to their desktops at work).
This stronger-than-expected performance was achieved in spite of a number of factors that could have exerted a negative influence on growth:
• Black Friday was relatively early in 2017 (24 November – it is the fourth Thursday in November, which shifts earlier or later in the month each year), so it occurred before payday for a greater number of people than has been the case over the past few years;
• Businesses in multiple other sectors now run their own Black Friday campaigns, which could divert spend away from retail; however, this doesn’t seem to have caused a particularly significant impact yet, it may be that most people are quite focused on assigning their available income to covering Christmas; and
• Many retailers launch their Black Friday discounting campaigns in advance of the day itself, extending the peak activity over a longer period.
That final factor is the key one. Throughout November, IMRG were tracking 210 retailers as part of this research. In the graph below, the blue line shows the number of those who were actively promoting Black Friday specific discounting campaigns throughout Black Friday week, while the orange line shows the number promoting discounting campaigns that were not explicitly related to Black Friday.
As can be seen – and as might be expected – the number running Black Friday specific campaigns peaked on the Friday at 168. However, at the beginning of the week there were already 77 actively promoting Black Friday campaigns (as well as 37 running their own discount campaigns), with that number increasing sharply on both Wednesday and Thursday. The Wednesday was particularly interesting, marking the day of the week when activity started to really accelerate as many switched on their campaigns – yet this was not reflected in the sales growth for that day, up just +2.8% and by far the lowest rate for any day that week; shoppers appeared to be far less responsive on that day.
Even on Monday 13 November, a full week before Black Friday week began, there were 12 Black Friday-specific and 66 non-specific discounting campaigns live among the 210 retailers tracked.


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Yahoo! has said “no” to Microsoft. For now, at least.
The Yahoo! board is expected to formally reject Microsoft’s offer, with the thinking that the company is worth more than what Microsoft offered—$44.6 billion, or about $31 per share. The board feels the company is worth closer to $40 per share, or around $57.5 billion. That’s a $12 billion difference. Chump change.
Apparently Yahoo! is concerned about the company’s independence. Some on the board feel that Google would be a better company to partner up with than Microsoft. There’s fears that Microsoft will bid and bid until it gets its way—with our without the current board.
Nothing like high finance on the weekend.
Yahoo Board to Reject Microsoft Bid [Wall Street Journal]


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EA’s talk of bringing the new Battle Royale hit Apex Legends to mobile this week got us thinking: we might not actually be that far away from simultaneous console and mobile releases.
Woah there – take a breath and hear us out before you freak out.
Right now, the only game to have a successful launch across all major platforms is Fortnite, and it runs like a dream. With this week’s release of controller support and 60 frames per second, you can now play, and compete with, gamers on console.
At this point, the experience is pretty much identical no matter the platform you play on, and this is increasingly becoming the norm. Just last year, Apple made a big show of how the new iPad Pro is as powerful as an Xbox One. Meanwhile, Android paved the way for the Nintendo Switch with its Nvidia Shield devices.
The divide between mobile and consoles, in terms of power, is shrinking
The divide between mobile and console, in terms of raw power, is shrinking drastically. At the current rate of technological growth, mobile will likely surpass the PS4 and Xbox One before the generation is up, and might even catch up with, and even overtake, the PS5 and Xbox One during the next generation.
Where mobile falters though, is in the games department. While we have a bunch of awesome titles like The Room, Monument Valley, and Brawl Stars, you still can’t play the likes of The Witcher 3 in the palm of your hand. Huge console games are still just outside of our reach.
We’re expecting all of that to change though — especially as more devices move towards using USB-C. This versatile technology powers the Nintendo Switch, so its only a matter of time before we can fire our mobile phone screens to our TV with a lovely console-style interface and play games there and on the comfort of our phones.
Yes, we’re well aware that many of you are doing that already, but it’s hardly as simple as it is with the Nintendo Switch. It needs to get to that level before developers start taking mobile seriously.
Everyone owns a mobile, so the potential market eclipses PC and console by a wide margin
And why wouldn’t it? The number of people that own a mobile device far eclipses the entire PC and console market put together. It’s a device that we all carry in our pockets and the Wii has already demonstrated that anyone can be a gamer if we make it accessible to them.
So either Google or Apple need to step up and release a dock-style device, make it easier for console developers to port their games, and help grow our platform.
We’d love for the next generation of games console to sit in our pockets, and that’s very much a possibility. It just needs a little kick to get there.


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Samsung Said to Follow Apple's Lead with Fingerprint Sensor, No Iris Scanner in Galaxy S5
Previous rumors hinted that Samsung's next flagship device would leapfrog the iPhone 5s with new iris scanning technology, but that rumor may be inaccurate. A recent report from The Korea Herald claims the Korean handset maker instead is working on fingerprint sensor technology for its upcoming flagship Galaxy S5 phone.
"Among the different types of biometric sensors that Samsung is testing for its Galaxy S5, the tech giant will go for fingerprint authentication rather than unintuitive user experience of iris recognition," said an industry source who declined to be named.
"Who would want to put their handset up close to their eyes for authentication in places like movie theaters and bed, or even while they are driving?," the industry source added.
Samsung Vice President Lee Young-hee said in a recent Bloomberg interview that the company was looking into the possibility of using an iris scanner, but can't confirm that the technology would be incorporated into the Galaxy S5.
“Many people are fanatical about iris recognition technology. We are studying the possibility but can’t really say whether we will have it or not on the S5.”
The Korea Herald report cites industry sources who claim the iris scanning technology would provide an unfamiliar and uncomfortable user experience. It also is technically challenging as it would require a long-range camera, in addition to a rear camera and a front-facing camera. The inclusion of three camera modules would force Samsung to redesign both the internal layout and form factor of its Galaxy S phones.
Apple has also been rumored to be working on iris scanning functionality, but industry insiders predict it will take several years before a single camera module will be able to serve dual functions as a front-facing camera and an iris scanner. In the interim, manufacturers like Samsung are expected to adopt display-wide fingerprint scanners that would unlock a phone by allowing a user to tap on the screen. Apple has revealed its own interest in such technology, including the ability to turn display areas corresponding to app icons such as those for banking or email apps into fingerprint sensors.
Apple is working on five new Macs for launch in 2022, including a new version of the entry-level MacBook Pro, according to Bloomberg's Mark Gurman.
In the latest edition of his "Power On" newsletter, Gurman said that he expects Apple to launch five new Macs in 2022, including: A high-end iMac with Apple silicon to sit above the 24-inch iMac in the lineup
A significant MacBook Air...
Apple is planning an entire revamp of its Apple Watch lineup for 2022, including an update to the Apple Watch SE and a new Apple Watch with a rugged design aimed at sports athletes, according to respected Bloomberg journalist Mark Gurman.
Writing in the latest installment of his Power On newsletter, Gurman said that for 2022, alongside the Apple Watch Series 8, Apple is planning an update to ...
Apple's AirTags are being used in an increasing number of targeted car thefts in Canada, according to local police.
Outlined in a news release from York Regional Police, investigators have identified a new method being used by thieves to track down and steal high-end vehicles that takes advantage of the AirTag's location tracking capabilities. While the method of stealing the cars is largely ...
Apple CEO Tim Cook "secretly" signed an agreement worth more than $275 billion with Chinese officials, promising that Apple would help to develop China's economy and technological capabilities, The Information reports.
In an extensive paywalled report based on interviews and purported internal Apple documents, The Information revealed that Tim Cook personally forged a five-year agreement...
Apple is preparing to update three of its iPad models in 2022, including the entry-level iPad, iPad Air, and iPad Pro, according to Bloomberg's Mark Gurman.
In his latest "Power On" newsletter, Gurman reiterated Apple's plans to release a new iPad Pro in 2022, featuring a new design and wireless charging, and clarified the company's intention to release new versions of the entry-level iPad...
The SD card reader slot on the new 14 and 16-inch MacBook Pro models is not functioning as expected with some SD cards, according to multiple reports on the MacRumors forums.
In a long complaint thread, MacRumors readers have detailed the issues that they're having with some SD cards, and there seems to be little consistency between reports and affected SD cards. Some SD cards crash and...
Amazon today has Apple's AirPods Pro with MagSafe Charging Case for $169.99 and delivery before Christmas Day, down from an original price of $249.00. This is $10 off from the rock bottom $159.99 price tag we tracked on Black Friday and Cyber Monday, and still a great deal for anyone shopping this holiday season.
Note: MacRumors is an affiliate partner with Amazon. When you click a link and...
Location tracking service Life360 has been selling the precise location data of tens of millions of its users, according to a new report shared by The Markup.
Life360 bills itself as a "family safety platform" app that is meant to allow family members to keep tabs on one another with tracking software that's installed on smartphones, and there are both Android and iPhone apps.


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PRINCETON, NJ -- While much of the nation was focused on the Super Tuesday elections earlier this week, and Americans were telling pollsters that the condition of the economy was one of their top concerns, the Institute for Supply Management issued a stunning report. Its January index of business activity -- activity outside of the manufacturing sector -- took its biggest plunge in its more than 10-year history. This important measure of current economic activity also turned negative for the first time since March 2003 -- the month the war with Iraq began. Given that the backdrop for this news was the Commerce Department's report last week that the U.S. economy actually lost jobs in January, it should not be surprising that Wall Street took a plunge.
Nor should it shock anyone that 8 in 10 Americans now believe the U.S. economy is experiencing either a slowdown or a recession. However, it may be surprising how many lower-income Americans think the country is not only in a recession but in an economic depression.
Assessing the Current Economy
In a new USA Today/Gallup poll, conducted Jan. 30-Feb. 2, 45% of Americans describe the U.S. economy as already being in a recession (33%) or a depression (12%). Another 46% say the economy is currently experiencing an economic slowdown; only 7% say the economy continues to grow.
More Lower-Income Consumers See Recession/Depression
As might be expected, a higher percentage of lower-income than upper-income consumers describe the current economy as being in a recession or a depression. Nearly 6 in 10 consumers making less than $20,000 a year think the U.S. economy is experiencing a recession or a depression, with more than one in four (27%) saying the economy is in a depression. While still a high percentage, only 31% of those making at least $75,000 think the economy is already in a recession and only 8% say it is experiencing a depression.
Defining Recession and Depression
An old saying defines the difference between a recession and an economic depression: A recession takes place when you are unemployed, while a depression takes place when I'm unemployed. Given the relatively good employment levels during recent years and the technical definition of a recession, usually described as two consecutive quarters of negative economic growth, many economists argue that the U.S. economy is not really in a recession -- let alone anything resembling an economic depression.
On the other hand, to many economists, the application of the terms "recession" and "depression" have a much more psychological and emotional connotation. The fact that the U.S. economy has not experienced anything resembling a severe recession in about a quarter century tends to set the bar pretty low as far as economic hardship is concerned. Clearly, many Americans associated with the housing, auto, and manufacturing industries have good reason to think of the economy as in a depression, as do the unemployed and underemployed.
Regardless, the fact that so many Americans feel the country is already in a recession or a depression does not spell good things for consumer spending, business activity, or the future direction of the U.S. economy. Still, even with all the current doom and gloom, many Americans of all income groups remain optimistic about the economy just a year from now: 44% of all Americans, including 45% of those with lower incomes, say they expect the economy to be growing at that time. This suggests that while many Americans seem to feel the current economic downturn could be severe, they also believe it will be mercifully brief.
Results are based on telephone interviews with 2,020 national adults, aged 18 and older, conducted Jan. 30-Feb. 2, 2008. For results based on the total sample of national adults, one can say with 95% confidence that the maximum margin of sampling error is ±2 percentage points.
Interviews are conducted with respondents on land-line telephones (for respondents with a land-line telephone) and cellular phones (for respondents who are cell-phone only).
In addition to sampling error, question wording and practical difficulties in conducting surveys can introduce error or bias into the findings of public opinion polls.


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As countries around the world struggle to cope with rising prices, perhaps no major economy understands how to deal with inflation better than Argentina.
The country has struggled with rapidly rising prices over the past 50 years. During a chaotic trajectory in the late 1980s, inflation reached an almost unbelievable 3,000 percent and residents rushed to get groceries before clerks with prize guns could make their rounds. Now high inflation is back, more than 30 percent a year since 2018.
To understand how Argentinians deal with it, we spent two weeks in and around Buenos Aires talking to economists, politicians, farmers, restaurateurs, real estate agents, hairdressers, taxi drivers, money changers, street performers, street vendors and the unemployed.
The economy isn’t always the best conversationalist, but in Argentina it got just about everyone going, provoking curses, deep sighs and informed opinions about monetary policy. One woman happily showed her hiding place for a wad of US dollars (an old ski jacket), another explained how she put money in her bra to buy an apartment, and a Venezuelan waitress wondered if she was going to the right place. country had emigrated.
One thing became strikingly clear: Argentines have developed a highly unusual relationship with their money.
They spend their pesos as quickly as they get them. They buy everything on installment, from TVs to potato peelers. They don’t trust banks. They hardly use credit. And after years of constant price increases, they have little idea of how much things should cost.
Argentina shows that people will find a way to adapt to years of high inflation, in an economy that is hard to fathom anywhere else in the world. Life is especially manageable for those with the resources to make the reverse system work. But all those striking solutions mean that few who have held political power during years of economic hardship have paid a real price.


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Big changes at Hotel Denver, including their name
The Hotel Denver recently began two-phase renovations to bring the hotel back to its roots.
The first phase adds new furniture and decor to the rooms, and the second phase will see a lot more changes starting in the fall, including plans for a new hotel name, to be determined.
“The delightful old-world hospitality of this downtown Glenwood Springs boutique hotel has endeared locals and visitors alike since 1915 and we are not going to change that,” Tony Sherman, owner of Terrapin Investments, said in a news release. Sherman owns Hotel Denver and Terrapin Investments which manages the hotel.
The whole renovation is looking to balance bringing back the original appeal with a few modern updates.
“We wanted to preserve its much-loved charm and appeal by carefully stitching together an aesthetic in which the old and new occupy the same space,” Christina Skopliak, lead designer and owner at Wild Muse Interiors, the company conducting renovations, said in the release.
The boutique hotel has seen a lot of renovations over 100-plus years. Historically, there has been talk of renaming it during prior renovations, but they never seem to make the change.
With this renovation, they are finally planning to do it, Sherman said.
Sherman said he wanted to make the change because he never understood why a hotel in Glenwood Springs was called Hotel Denver. Some of the prior suggested names over the years have been the Grande Hotel or the Star Hotel, which historically used to stand where the Glenwood Canyon Brew Pub portion of the now-connected building is now.
Other big plans include opening up the hotel lobby to the Brew Pub and adding a small lobby bar and a cozy fireplace.
“As one of the original hotels in Glenwood Springs, this historic gem is an oasis for travelers looking for a boutique experience in the heart of town and they will be delighted by these changes,” Roger Smith, Dual General Manager of The Hotel Denver and The Hotel Glenwood Springs, said in the release.
They will be bringing back antique pieces and the original vintage charm, with more modern furnishings, updated technology and some new amenities.
“Glenwood Springs continues to attract a new and broader demographic and our lodging options need to reflect their preferences,” Sherman said, in the release.
The hotel is adding 15 new rooms and suites that will fill in the space of the previous “underutilized meeting and retail space,” and the lobby and rooms are slated to be complete by the end of 2024. Mona Lisa Unique Boutique moved to the front of the hotel property and River Blend Coffee House will stay at their location.
At the end of renovations the hotel will switch to full-service so guests can order in-room food and beverages.
“This hotel has so many stories to share, which have been cobbled together over the last century, so the design intent was clear to us from the beginning; to create a space in which storied history and modern luxury artfully combine,” Skopliak said.
Post Independent reporter Cassandra Ballard can be reached at email@example.com or 970-384-9131.
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August 09 2008 / by John Heylin
Category: Business & Work Year: General Rating: 3
Robert Scoble recently sat down with Chris Capossela, Senior Vice President of Information Worker Group at Microsoft, and asked him about some of the new Office features that they are planning for the future.
To sum it up, Microsoft believe that since so many people are buying their product, they are the real powerhouse when it comes to information exchange. They base this on the fact they make billions of dollars and have millions of customers. Did that sound sarcastic? It was. Microsoft is coming late into the game of online collaboration and feels they can make up for lost time by forcing people to buy their product with every new PC that gets released.
This kind of mentality may have worked a year ago, but with Windows Vista sucking wind world-wide people are looking into better alternatives. Mac sales are up, Firefox continues to grow against Explorer, and more and more people are trying out rival operating systems like Linux or Fedora. With Google already releasing over 300 templates for free through their Google Docs program, as well as the growing sentiment against Microsoft products, Microsoft might just fall flat on their face with this one. In other words, why pay ridiculous amounts of money for something that you can already get for free?
Microsoft’s sentiment is clear – they don’t understand the new consumer. In an interview with Patricia Kitchen, Paul Trapani, president of XT Group, an information technology consulting firm in Bethpage, expressed a similar sentiment. ‘Most clients use Office and I think will continue to do so for compatibility purposes.’ So in other words, because it’s been the norm for so long it will continue to be the norm. “Still, he said, he would not hesitate to recommend the Google templates to ‘a bunch of 20-year-olds’ or to nonprofits looking to avoid the cost of installing the Microsoft product on each computer.”
The only hope Microsoft really has in pulling off their online venture is how streamlined the online Office tools look. The sheer madness of running an online meeting, file-sharing and Email through multiple sites might just convince a lot of companies that Microsoft Office Online is the way to go. Not only are, like Capossela said, familiar to almost everyone, but the added backing of Microsoft’s security against online hackers could be the final push needed to get customers.
And yet despite all this talent, Microsoft still believes that since they’re the biggest on the block that they don’t have to worry about other companies. It’s sad to see such talented people so out of touch with Internet business. Heck, even thousands of years ago people could have told you there’s no choice between a product that’s free or the same product that costs hundreds of dollars.


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Financial fraud is on the rise in the UK. But if you think it’s unlikely you’d be affected by it, think again. Conmen target people of all ages and from all walks of life. And they’re getting more and more clever about how they take your money from you.
Thankfully there are fraud specialists in this country who are fighting the scammers in an attempt to make your money safer. But it’s also up to all of us to be on our guard too. Many financial scams look and sound completely genuine, which explains why so many people are conned out of their hard-earned cash. That’s why keeping up with the scammers’ tricks is a good way of keeping your money where it belongs – in your pocket.


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Each year, Crain's New York Business recognizes 40 individuals under 40 who are making their mark on the city through their pioneering work in science, journalism, entrepreneurship, and more.
This year, four Columbians made the prestigious list. Learn more about them below.
(Images courtesy of Crain's.)
David Chubak '02CC
Head of Global Retail Banking & Mortgage, Citibank
Chubak, the youngest person ever to assume his current role at Citibank, made a name for himself as a partner at McKinsey, advising big banks trying to remake themselves after the financial crisis. Chubak was recruited by Citibank to be head of productivity in 2013 and now as head of banking and mortgage, he oversees 65,000 employees.
Benjamin Clymer '12JRN
Founder & CEO, Hodinkee
According to Crain's, Clymer has transformed his company "from a blog into an online magazine and shop that has become a profitable company, with $11 million in revenue in 2017, nearly double 2016's take." He has raised $8.5 million from investors in just three years, selling watches online that used to be sold only in person in luxury stores, the list says.
Rami Rahal '09SEAS
Founder & Managing Partner, Blue Cloud Ventures
Rahal became interested in entrepreneurship while at Columbia and founded Blue Cloud Ventures in 2012. He and co-founder Mir Arif have raised $162 million and "invested in 24 software companies to date, including three based in New York: Tapad, Reval and Conductor," Crain's writes.
Zachary Seward '10JRN
Chief Product Officer & Executive Editor, Quartz
In his post at Quartz, Seward finds ways for quality journalism to prosper online, Crain's writes. The mobile app Seward helped launch has been downloaded one million times, and the company doubled its ad revenue last year—and is expected to increase by 100 percent this year. According to Crain's, Seward also launched a bot studio "to experiment with AI-imbued talking programs as a platform for journalism."
Any alumni we missed? Please e-mail [email protected].


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This season has seen the return of Powerband technology, with the Adidas Powerband BOA Boost golf shoe. Sergio Garcia and John Rahm have had multiple successes in the new shoe which has become 2017's hot property.
The Powerband franchise has now been combined with the Boost technology to enhance power and stability throughout the golf swing. In addition, this season the Powerband also includes the lace-less BOA technology which is increasing in popularity with modern golfers, including some tour pros. With all this new technology, surely it must be Adidas' most powerful golf shoe to date.
The innovative Boost foam is made up of energy capsules which release energy during the golf swing, delivering the maximum energy return. The PowerCage saddle strengthens lateral stability by locking down the midfoot. The L6 BOA closing system provides the perfect fit and extreme comfort every time you step into these golf shoes, and also prevents moisture leaking through the top of the shoe. Comfort, stability and energy release provides for the most powerful Powerband golf shoe to date.
The Adidas Powerband BOA Boost helped Sergio Garcia lead from the start earlier this year to win the Dubai Desert Classic at the Emirates Golf Club. The Spaniard comfortably held off the challenge of Henrik Stenson to stroll to a 3 shot victory. More recently, Sergio claimed his first major title at the Masters, beating a fellow European and Ryder Cup team mate Justin Rose in a dramatic play-off. It has been a good year so far for El Nino!
Fellow Spaniard Jon Rahm won his maiden PGA Tour title in the Adidas Powerband BOA Boost, at the Farmers Insurance Open at Torrey Pines. This was only his 12th start on the PGA Tour. He came runner up to World number 1 Dustin Johnson at the Dell Matchplay in Austin, Texas and has just worn the Irish Open with a phenominal display.
The Adidas Powerband BOA Boost golf shoes are worn by some of the biggest hitters on tour, get involved and try these shoes out for yourself. They are available here.


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Samsung’s Galaxy Note regular is already seen as a lite version of its “real” flagship, but the Samsung Note 10 is getting a Lite version too.
According to a new report, Samsung’s SM-N770F is being branded as the Galaxy Note 10 Lite, the firm will be bringing this to Europe with two colour options; red and black. This would be a cheaper Note 10 aimed at more budget-friendly users, much like the Galaxy S10e.
It’s not entirely clear what cuts the device will have to earn its Lite monicker. The Note 10 is already seen as a heavy cutdown version of the Note 10 Plus. Samsung may take away the stylus, through that wouldn’t be much of a Note. The screen resolution may drop, but the Note 10 already has a FullHD screen and not the 1440p display. Less RAM may make it unworthy of the Note name, and so on. Samsung has so many phones out that it’s hard to figure out exactly who the Note 10 Lite would be aimed at that isn’t currently being served.
The Galaxy Note 10 Lite may release within the coming months, though Samsung may aim to seed this device before the Galaxy S11 so as not to dilute its brands and confuse buyers.