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The race to grab a giant slice of the self-driving car market got a little more heated when Honda announced it will invest $750 million in General Motors’ autonomous car unit, with an additional $2 billion coming over the next 12 years.
That’s a good chunk of money flowing to a set of products a long way from hitting the market. “This is a really expensive venture,” said Michelle Krebs, auto industry analyst at AutoTrader. “We don’t know when they’ll be ubiquitous and profitable.”
GM’s self-driving car unit, Cruise, has been working on driverless taxi and delivery services. The partnership is meant to look more Silicon Valley than Detroit, said Krebs, and that brings in more funding. Other companies have been following suit.
“It seems like you wake up in the morning and there’s yet another announcement of a collaboration for something, with someone,” said Maryann Keller, an independent auto industry analyst.
Toyota’s working with Uber on autonomous cars. Chrysler has partnered with Waymo. Keller said automakers need partners to both invest in the future and manufacture cars in the present. “They cannot forsake continuing investment in their current business models,” she said.
Honda’s partnership with GM could give both companies a competitive edge, said Stephanie Brinley, an analyst with IHS Markit in Detroit. “General Motors is one of the lead players in the space,” she said. That’s partly because GM made a smart move by acquiring Cruise. Even before Honda’s investment, GM attracted billions in venture capital for autonomous cars.
What does Honda bring to the table? Expertise in engineering, said Brinley. “They have a terrific ability in terms of packaging and finding space inside a vehicle.”
The head of GM’s self-driving car unit said in a blog post it would be nice if its driverless cars had things like giant TVs and minibars.
Those would certainly require a lot of space.
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Several stock exchanges around the world were declining today. For example, the CSI 300, which consists of listed companies in Shanghai and Shenzhen, ended up 0.2 percent lower than yesterday’s closing reading, and the Tokyo Nikkei 225 fell 0.6 percent.
The main indices of European stock exchanges glow red and the main indices of the New York Stock Exchange opened inconsistently as trading began.
The Dow Jones was down 0.6 percent, the S&P 500 was down 0.3 percent and the Nasdaq was up 0.1 percent.
Investors were expecting the U.S. president to take office this week Joe Biden talk about the giant stimulus package he designed.
Biden said yesterday he was planning a $ 1,900 billion stimulus package. The market had expected the package to reach more than $ 1,500 billion.
The money should be used for household grants, vaccinations
“The market remains cautious,” a family investment company interviewed by Reuters Cherry Lane Investmentsin shareholder Rick Meckler commented to the news agency yesterday.
He said the market feared that Biden’s stimulus package might not be as big as some would like.
“It’s also possible that the market is starting to think about how the package will be paid for.”
Reuters ’stock market report today speculates that the market may fear the stimulus package will lead to tax increases. At least that’s what the finance company thinks Bright Tradingin stockbroker Dennis Dick.
“Corporate taxes will go up.”
JP Morgan and Citigroup rise
Finance company J.P. Morgan today released its fourth quarter interim report. The company’s net sales increased by 3.4 percent compared to the comparison period, to $ 30.2 billion. Information service Factsetin The revenue forecast collected by the 25 analysts averaged $ 28.7 billion.
Adjusted earnings per share were $ 3.07, while adjusted earnings per share forecast averaged $ 2.62.
Finance company Citigroup revenue was $ 16.5 billion, compared to the average forecast of 24 analysts collected by Factset of $ 16.7 billion.
The company’s earnings per share were $ 2.08, while Factset’s forecast average averaged $ 1.34 earnings per share.
Bank stocks have been rising relatively well in recent weeks.
“The good news was already priced in stock prices,” Dick, a stockbroker at finance company Bright Trading, commented to Reuters before trading began.
Following the start of trading, JP Morgan’s stock was up 0.8 percent to $ 141.48 and Citigroup’s stock was up 0.4 percent to $ 67.08.
U.S. retail sales declined in December
A lot of fresh macroeconomic figures came from the United States today. In December, retail sales decreased by 0.7 per cent compared to November retail sales.
The median of economists ’forecasts collected by Bloomberg was 0.0 percent. In November, retail sales fell 1.4 percent. Retail sales were also declining in October.
Retail sales in the U.S. suffered a nearly 15 percent collapse in April as the interest rate crisis hit. In May, however, retail sales rebounded to a peak of more than 18 percent.
Retail sales continued to grow gently until September. The increase in Covid-19 cases in the United States has increased economic constraints and affected human consumption.
The Empire Manufacturing Index, which measures industrial sentiment in the northeastern United States, stood at 3.5 in January. The median of Bloomberg’s predictions was 6.0. In December, the index reading was 4.9.
A plus sign is considered to indicate an improvement in the business environment, a minus sign is considered to indicate a deterioration in the operating environment.
The Empire Index is known for large monthly fluctuations.
The U.S. producer price index rose 0.3 percent in December from November, when the median Bloomberg forecasts estimate a rise of 0.4 percent. In November, the increase was 0.1 per cent.
Compared to last December, the index rose 0.8 percent, as predicted by the median of Bloomberg forecasts. Also in November, the index rose by eight percent.
Source: Arvopaperi by www.arvopaperi.fi.
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The company is rolling out an update to all the Android devices via Google Photos app.
Last year, Google had introduced its AI-based photo learning feature called Google Lens at its I/O event. Primarily, the Lens is a virtual search engine which uses the phone’s rear camera and tends to recognise your images — such as business cards or a dog’s breed, amongst other things. This feature was tagged along with Google’s Assistant and was exclusive to the Google’s Pixel 2 flagship phones.
However, ahead of the Google’s I/O 2018 slated to be held in May, the company is rolling out the update to its Google Photos app. What this means is that this feature exclusive to the Pixel 2 line-up is now open to all of the Android phones. Google also promises to roll out this feature to iOS devices soon. The company made this announcement on its Google Photos Twitter handle.
Rolling out today, Android users can try Google Lens to do things like create a contact from a business card or get more info about a famous landmark. To start, make sure you have the latest version of the Google Photos app for Android: https://t.co/KCChxQG6Qm— Google Photos (@googlephotos) March 5, 2018
Coming soon to iOS pic.twitter.com/FmX1ipvN62
This AI-based algorithm app uses Google’s Machine Learning, which can identify and give instant information about artwork, barcodes, books, buildings and landmarks. It can also perform basic tasks such as adding a contact from a business card, instant language translation, looking up product information by scanning the barcode and opening web addresses directly to the browser.
Google seems to be firmly focusing on its AI and Machine learning by introducing this Lens feature to all the Android phones via Google Photos app. However, the company specifically didn’t mention the exact number of devices getting this update but asks all Android users to be on the latest version of Google Photos app.


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More reports have surfaced that Samsung is rumored to soon design its own custom chipset for the 2025 models of the Galaxy S series.
The new reports come from reliable tipster IceUniverse and South Korean publication Inews24. They cited a rumor that suggests that Samsung officials were disappointed with the backlash they received from the Galaxy S22 series’ Game Optimizing issue. They were also not pleased with the poor performance and thermal management of the Snapdragon 8 Gen 1 and Exynos 2200 chipsets.
Having said that, the manufacturer is set on improving their device optimizations in the future akin to what Apple is doing with their A-series chipsets.
Though Samsung has made custom CPUs pre-2020 Exynos, they closed down its custom chipset department back in December 2019.
As it is, the Exynos chipset seems to be the SoC that comes to mind when you hear a Samsung custom chip. But in reality, it is not a custom-made chipset for the S-series. This is because the manufacturer also sells these in-house chipsets to other brands like Motorola and vivo.
For now, we can only wait for the company’s announcement of its plans regarding whether these new chipsets will be a part of its existing Exynos line or a totally brand new line of SoCs.


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PROVO - A Utah tech startup is joining the social media race and even though it's pretty clear that ZooWho is entering a crowded field, some of its ideas could set it apart from the rest.
ZooWho's Media and Communications Manager, Brayden Babbitt says, "On social media, a lot of times, its really superficial interactions like on Facebook or Instagram we might just like a photo or just post a message on someone`s wall."
The team behind ZooWho says they want to do more than that, like remind you about when someone's birthday is coming up, ahead of time, rather than the day of like Facebook.
Another feature of ZooWho that links to this is the ability to buy gifts for people you know through the app.
"The idea is that we want to push people to use ZooWho to buy gifts for people because it will be easier to remember why you`re buying a gift for them in the first place or who needs a gift so that you can go through that way," says Babbitt.
ZooWho users called 'Zoobees' also have 'Contact Frequency' and 'Last in touch' tabs on their profiles to let you know if you might not be keeping up with your friends enough.
"Actually pick up the phone, or send a text, or get them a gift or those types of things instead of just doing the bare minimum in those relationships," says Babbitt.
The Utah-based app is different from Facebook, Twitter and such because it doesn't get its money through advertising.
Babbit says, "For us right now, the way we`re making money, is through our affiliates. we have over 200 different companies that you can buy a gift for someone through including amazon, Nordstrom and those types of companies and we get a little bit of commission off of them."
The team at ZooWho says it's important to remember that this app is supposed to help you make your relationships better, not do it for you.
"Part of it as well is that you`re supposed to be proactive in your life and remember days before something big comes up," says Babbitt.


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2015 BMW Z4
Since first rumors, the BMW Z4 is most expected vehicle from German carmaker. It wasn’t clear would it be released as 2014 or 2015 year model, but now we are near that mark and target. Definitely, it will be model for next year, although we hope to see it this year. The 2015 BMW Z4 will be most elegant and stylish car on the market, according to company and first impressions. It will be convertible two-seater, made for showing off. Except that, sound of the engine is really fantastic. But best is yet to come – features and options in this future car are terrific and since still in developing, it could be only be better.
2015 BMW Z4 redesign
Design of the 2015 Z4 is one of the most interesting things about this vehicle. The company and enthusiasts have already announced it as the most stylish car in the class. There will be changes on its exterior, and we also must admit there is some point in this proclamation. New details which make this car so attractive are on wheels. New 17-inch alloy wheels are installed. Also, bi-xenon headlights make difference to other cars. Heated steering wheel, new climate control and improved safety features are also some of the things that would buyers love.
2015 BMW Z4 engine
Engine will follow design in making great impression of the 2015 BMW Z4. This is not most powerful engine it could be installed, but makes great performance. Engineers decided to pack new Z4 with 2.0-l four-cylinder powertrain, capable of producing 240 hp and 260 feet-pound of torque. Other possible option for the new 2015 BMW Z4 is 3.0-l engine which could produce over 300 hp.
2015 BMW Z4 release date and price
From some leaked information we find out that it is possible for BMW Z4 to be presented by the end of this year and 2015 year model. Market appearance is to follow premiere in few months and from $49.000 up to $66.000 will be price range for 2015 Z4, depending on engine options and trim levels.
Incoming search terms:
- 2015 bmw z4 redesign
- bmw z4 2015
- 2015 bmw z4 release date
- 2015 z4


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Electric-vehicle startup Arrival Ltd. said it has raised $118 million from funds managed by BlackRock the latest investor bet on new technology upending the auto sector.
The investment values the U.K.-based manufacturer at around €3 billion, equivalent to $3.5 billion, according to a person familiar with the matter. The Wall Street Journal earlier Wednesday reported the investment.
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It has been rumored that the Google is working on three new Smartphones, to be considered as the succeeding models in Pixel lineup. Earlier rumors suggested that the three devices were internally codenamed as “Walleye”, “Muskie”, and “Taimen” with display sizes large to largest respectively. Now the newer rumors claims that the Google might have supposedly cancelled the plan of next generation Pixel XL device codename as “Muskie”, having intermediate display size.
It is not clear why the Google now went for such decision, instead of making one more model. But the Google will probably not want to create a flood of overhyped “Made By Google” Smartphones, instead lesser will make them perfect. While launching the second generation of Pixel devices, Google will likely introduce a smaller Pixel and way larger Pixel XL with lesser bezel and extravagant parts around the display to create popularity among consumers who are often obsessed by LG G6 and Galaxy S8/S8+ Smartphones.
The reports claim that the Tech Giant is getting ready to announce the devices by the H2 2017, to be powered with Snapdragon 835 and serious amount of RAM equipped. Anyways, the Google will surely give out a well crafted piece of engineering like the preceding Pixel devices, with highest DxOMark scoring camera.


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– Keep an eye on JMART Group’s record earnings outlook for next year, as the company plans to actively pursue partnerships and synergies with BTS, including the establishment of a joint venture company to boost revenue and expand sales channels. This would result in an average 50% surge in profit growth between 2022 and 2024. Meanwhile, JMT anticipates concluding the partnership with KBANK as swiftly as possible, with the goal of purchasing debt worth up to 20 billion baht. SINGER is planning to offer a truck loan by the end of this year. Analysts anticipate a net high profit of THB600 million, setting a target price of THB50.50 for JMART.
– BAM seeks to accelerate a joint venture plan for the establishment of an asset management company (AMC) to manage debt, with each partner holding no more than 40%, with the agreement expected to close by the end of this year. BAM now holds over THB84 billion in bad debt and is confident of collecting more THB17.4 billion in bad debt this year, with plans to acquire another THB11 billion.
– ANAN will offer subscriptions for 833.25 million new shares at a ratio of four existing shares to one newly issued share at a selling price of THB1.55 per share. Additionally, subscribers will receive a free warrant ANAN-W1 equal to 833.25 million units at a ratio of one capital increase share to one warrant, which will last for two years.
– By the end of this year, NRF aims to have completed its investment in branded e-commerce on Amazon. NRF also plans to list Nove foods on the U.S. Stock Exchange or in Europe within three years, while maintaining a 50% revenue growth rate in 2021 and a forecast of THB5 billion in revenue in 2023. Meanwhile, RBF anticipates a 10-12% increase in revenue this year as a result of Thailand’s reopening.
– Profits in 3Q and 4Q are predicted to reach THB400 million per quarter in the second half of this year (October 2021-March 2022), according to EPG. While sales in 2021/22 are expected to hit THB11 billion, a 12-15% rise, with a gross profit margin of 29-32% from three core businesses: Aeroflex, Aeroklas, and EPP.


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Vancouver’s ZoomInfo acquired two companies, Comparably and Dogpatch Advisors, for $145 million last month, according to the company’s SEC filing.
One company called Comparably, based in Santa Monica, Calif., employs 90 workers and is a prominent online recruitment marketing and employer branding platform that lets companies to attract and engage top talent, according to a Tuesday announcement.
Comparably is a “popular destination for employee reviews and salary data,” according to the news release. The company “attracts millions of job seekers each month looking for a trusted source of information on company cultures and employee insights.”
Dogpatch Advisors is a research and advisory firm based in San Francisco.
ZoomInfo, which operates under the symbol ZI on the NASDAQ, bought Comparably with an aim to incorporate it in its talent recruitment brand called TalentOS, which works with over 25,000 businesses, according to its Zoominfo webpage.
The acquisition of Comparably comes during a labor shortage when U.S. companies are seeking to fill over 11 million jobs, and “hiring top talent in today’s highly competitive job market remains a challenge for companies of all sizes,” according to the press release. ZoomInfo’s acquisition of Comparably will “help companies improve their strategies for attracting prospective employees.”
The two companies join a growing list of ZoomInfo acquisitions, which number more than 14 since it first started under the name DiscoverOrg.
The company ended 2021 with its most successful quarter, with $222.3 million in revenue. Its first quarter of 2022 saw another record of $241.7 million, a 58 percent year-over-year increase, according to the Monday announcement.
“ZoomInfo delivered a great start to the year as reflected in our first quarter results, which include another quarter of strong revenue growth and free cash flow,” said Henry Schuck, ZoomInfo Founder and CEO. “Customers are embracing the ZoomInfo RevOS platform, with more companies using the data, insights, automation and workflows to grow their business and efficiently go-to-market.”
ZoomInfo ended the first quarter with 1,623 customers with $100,000 or greater in annual contract value. That’s up from 1,250 customers of the same stature in November last year.
Schuck and ZoomInfo plan on building its new headquarters at the Terminal 1 spot near The Waterfront Vancouver. The company’s headquarters occupy the 805 Broadway building now in downtown Vancouver.


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New York gets on board with Uber
After bitter rhetoric, deal reached for more company cooperation, no cap on growth
NEW YORK – New York City and Uber have struck a deal on the eve of a City Council vote that could have placed a cap on the number of cars the ride-hailing company can have on the streets of the nation's largest city.
Mayor Bill de Blasio's administration announced Wednesday that Uber agreed to a four-month study on the impact of the cars on traffic and the environment. Under the deal, the city will not cap Uber's growth during those four months.
The agreement contrasts with the legislation the council was set to vote on today, which called for a 1 percent cap on the San Francisco-based company's growth within New York City during a yearlong study. Uber has steadfastly opposed any cap, and the company and City Hall had traded increasingly nasty barbs over the past week.
But the hostilities were set aside to announce the surprise arrangement, which also included a commitment to turn over far more data to the city on the location and duration of its rides. The company also agreed to work toward making more of its vehicles handicap-accessible and contributing to the region's mass transit network.
City officials said the deal was reminiscent of what the de Blasio administration offered Uber early in the negotiating process. They said a cap could still be imposed if Uber reneges on the agreement.
A call to Uber for comment was not immediately returned.
The $40 billion company has become a dominant force on the streets of New York, dispatching 25,000 cars compared to 13,000 of the city's iconic yellow taxis.
In pushing for a cap, the de Blasio administration cited concern over increased congestion on Manhattan's clogged streets. When talks broke down last week, sniping between City Hall and Uber reached a frenzy with expensive TV ad campaigns that have blanketed the airwaves.
Though most observers believe the City Council legislation would have passed, the de Blasio administration's position appeared to weaken as Uber unleashed its ad campaign, depicting the mayor as too influenced by the yellow taxi industry, which ranks among his biggest donors.
Gov. Andrew Cuomo and other public officials also called for the council to delay the Thursday's vote, now canceled in light of the agreement.
The ride-hailing service, which provides cars summoned by smartphone app, attacked the mayor even in the hour before the deal was announced, saying his central argument – that Uber is a leading cause of traffic — was not true.
Yellow taxis make 90 percent of their trips in Manhattan, according to city officials. Uber released data that it said showed a far lower percentage of its rush hour trips began there.
Uber officials also said it has an hourly average of just under 2,000 cars in the city's central business district during the day, a far cry from the huge number of yellow taxis that operate there. The company's seemingly ubiquitous ads also touted its service to minority riders in outer boroughs — de Blasio's political base.


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To celebrate the launch of their B-movie tie-in, Iron Sky: Invasion
, the game's creators Reality Pump and TopWare Interactive have released a new cinematic trailer showing some of the space-based carnage to expect from the game.
Normally, after furnishing you with a launch trailer for a game, we'd then tell you when the game actually launches. However, it has become a little unclear exactly when Iron Sky: Invasion
will be launching its space Nazis at you. Last month, we brought you the news
that it would be arriving on November 22nd. However, unless my calendar is wrong, that date has now passed and the game is yet to appear. The latest intel suggests a November 30th launch, but we don't have anything solid to back that up yet. I blame those shady space Nazis. Keep your eyes on TA as we unearth more information.


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Tesla delays production of its all-electric Cybertruck to 2023
Elon Musk, CEO of Tesla, has announced that the production of the much-awaited Cybertruck has been delayed to 2023. The vehicle was unveiled in 2019. It was slated to enter production in late 2021 but saw a change in plans to late 2022 and now to next year. Tesla aims to launch the Cybertruck along with Semi, Roadster, and a humanoid robot next year.
Why does this story matter?
- Tesla is yet to venture into the electric pickup truck segment as the Cybertruck remains marred by multiple delays.
- The company is changing the vehicle's features and functions and also trying to make it more afFordable.
- Meanwhile, its rival Rivian is now delivering the R1T pickup truck whereas Ford will commence deliveries of its F-150 Lightning model in spring this year.
Tesla aims to build 2.5 lakh Cybertrucks per year
Despite the ongoing supply chain issues, Tesla has earned a record quarterly revenue and its deliveries this year have gone up by more than 50%. However, Musk has said that Tesla will not introduce any new models in 2022 as it might lower the delivery rate. The brand also hopes to manufacture 2.5 lakh Cybertrucks every year. However, the process will take time.
The truck has armor glass and a single-bar headlamp
The Tesla Cybertruck has a body made of "Ultra-Hard 30X Cold-Rolled" stainless steel and Tesla armor glass that can absorb impact force and redirect it. The vehicle flaunts a single-bar headlight, an oversized single windscreen wiper, "invisible" door handles, flared wheel arches, and rugged wheels. It has a payload capacity of up to 1,587kg and can tow up to 6,350kg.
It promises a maximum range of 805km
The Cybertruck's base model with a single motor and rear-wheel-drive delivers a range of 402km, while the dual-motor all-wheel-drive variant promises a range of 482km. Finally, the range-topping tri-motor all-wheel-drive version has a range of 805km. It can sprint from 0-100km/h in 2.9 seconds.
The truck gets six seats and a 17.0-inch touchscreen
The Tesla Cybertruck has a spacious 6-seater cabin with a sunroof, a storage space beneath the second-row seats, a minimalist dashboard, and a yoke-style steering wheel. The four-wheeler houses a 17.0-inch touchscreen infotainment system with support for the latest connectivity options. The safety of the passengers should be ensured by multiple airbags, crash sensors, a rear-view camera, ABS, and EBD.
Tesla Cybertruck: Pricing and availability
Tesla will disclose the availability details of the Cybertruck electric pickup at the time of its launch. In 2019, it was announced with a starting price-tag of $39,900 (around Rs. 30 lakh).


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ARM has announced a new CPU and GPU for flagship mobile devices, which will be available in 2017. The Cortex-A73 CPU and Mali-G71 GPU are designed to support VR and AR applications.
The new core in the Mali-G71 enables a 50% increase in graphical performance, a 20% increase in power efficiency and 40% more performance per mm², says ARM. The GPU is able to scale efficiently up to 32 shader cores: twice as many as the Mali-T880. It is also fully coherent. Mediatek, Hisilicon and Samsung have already licensed the core.
ARM’s Cortex-A73, at under 6.55mm² per core on a 10nm FinFET process, is the smallest and most efficient ‘big’ (for big.LITTLE configurations) ARMv8-A core. ARM says that it is has achieved a 30% increase in sustained performance and power efficiency over the Cortex-A72. Speeds of up to 2.8GHz have been achieved. 10 partners have licensed the A73 so far, including Marvell, Hisilicon and Mediatek.


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Surprising developments at Dell may save it
Tom Dougherty, CEO – Stealing Share
26 March 2013
Even if Dell is saved, there’s much work to do
Michael Dell, the founder of Dell Computer, looked like a cinch to reclaim private ownership of the company as recently as last month.
Hold on. New bidders have arrived.
“The Blackstone Group and Carl Ichan are making moves, which is very surprising. Dell has been hemorrhaging money for the last few years and, frankly, looked like it was on its way out.”
Maybe there is something worthy at Dell
The Blackstone Group and Carl Ichan are making moves, which is very surprising. Dell has been hemorrhaging money for the last few years and, frankly, looked like it was on its way out.
Once the market leader, the company is now third behind HP and Lenovo in the worldwide PC market. Its stock dropped 31 percent last year alone.
However it does not appear that all is lost. Incoming bids signal that there may be something worth fighting for in the business of Dell and its brand.
The bids increased the offered price per share from $13.65 to $14.25 by Blackstone and $15 by Ichan.
The fun will begin when the bidding is over and we see where the company is headed. Competitive bids turn the buyout from a pity party into an opportunity to reclaim the company’s leadership.
Dunkin drive-thru Tom Dougherty, CEO - Stealing Share 14 August 2019 The Dunkin drive-thru is a testament to brand ignorance Dunkin Donuts, or Dunkin, or whatever the hell you are supposed to call it, just doesn’t understand how customers interpret its...
Apparel industry, Millennials Tom Dougherty, CEO - Stealing Share 13 August 2019 Millennials changing the apparel industry in fascinating ways Wanna find how much the world has changed by looking into an unlikely place? How about the changing attitudes...
Walgreens closing stores Tom Dougherty, CEO - Stealing Share 7 August 2019 Walgreens closing 200 stores comes as no surprise Walgreens closing 200 store means now I can drive a whole block and not see a pharmacy. Everyone knows there’s a pharmacy on...


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Auctioneers Artcurial Motorcars is holding a unique sale dedicated exclusively to the Mercedes-Benz brand, October 15, 2017, in Rueil-Malmaison on the outskirts of Paris.
More than 50 lots will go under the hammer, charting the history of the brand, from a replica Benz Patent-Motorwagen tricycle from 1886 (estimated at €90,000 - €110,000) to a 2013 Mercedes-Benz SLS AMG coupé (€180,000 - €220,000). Some of the vehicles come directly from the private collection of Mercedes-Benz France, while others hail from private collectors.
Two cars could break the million euro mark -- a 1955 Mercedes-Benz 300 SL with gull-wing doors, estimated at €900,000 - €1.3 million, and a 1961 hard-top 300 SL roadster estimated at €800,000 - €1 million. Fans of sleek German rides with cash to spare can also try bidding for a 1934 Mercedes-Benz Nürburg 500 Sport Tourenwagen (€700,000 - €850,000), a 1938 320 Cabriolet A (€550,000 - €700,000) and a 2009 McLaren SLR 722 S Roadster (€780,000 - €860,000).
All the vehicles up for auction will be on public display ahead of the sale, Friday, October 13 to Sunday, October 15, 2017 at the Mercedes-Benz Center Paris in Rueil-Malmaison.
The Mercedes-Benz by Artcurial Motorcars auction will be held October 15 at the Mercedes-Benz Center Paris in Rueil-Malmaison.


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Welcome to another awe inspiring edition of the Good e-Reader Radio show with Nick and Markus. Today our lead stories include: we broke last week regarding Amazon switching to the ePub format for its Kindle line of e-readers and the Amazon.com ebook store. We also give you a TON of news on Barnes and Noble. Pocketbook released a new e-Reader called the Pocketbook 360 Plus, we give you all of our impressions and views on it.
Barnes and Noble had one of its busiest weeks in recent memory! They got 1 million app downloads for its Nook Color 1 in Week, made a new Nook Color that limits the amount of user loaded content and the Nook 2 is announced this week. There is way more news on the company prospectively getting bought out by “The Darth Vadar” of business.
This week was tremendously newsworthy in the realm of E-Readers, Digital Publishing, Tablets, and eBooks! Only at the Good e-Reader radio show can you have the most essential stories broken down for you to hear.
Markus lives in San Francisco, California and is the video game and audio expert on Good e-Reader! He has a huge interest in new e-readers and tablets, and gaming.


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By Matteo Castia
--Reckitt Benckiser first-quarter revenue fell
--Decline in the health and nutrition units offset growth in the hygiene business
--The company said it will invest GBP1 billion to reach its sustainability targets in the next decade
Reckitt Benckiser Group PLC said Wednesday that net revenue in the first quarter slightly fell despite strong results from its hygiene unit amid the coronavirus pandemic.
The consumer-goods company--which houses Dettol, Harpic and Durex among its brands--said first-quarter net revenue fell 1.1% on the year, but rose 4.1% on a like-for-like basis. Total revenue in the period was 3.51 billion pounds ($4.88 billion).
Digital sales rose 24% on the year during the quarter and now represents 13% of group net revenue, it said.
The hygiene division continued to progress and generated net revenue growth of 21% on year, or 29% on a like-for-like basis, led by strong demand and expansion for Lysol, with double-digit growth in Finish, Air Wick and across most regions. Revenue in the first quarter for the hygiene division was GBP1.64 billion.
"Demand for Lysol and Dettol continues to be strong as consumers remain vigilant to the spread of the virus," the company said.
However, net revenue from both the health and nutrition businesses was in decline, falling 16% and 12% on the year, respectively, or 13% and 7.4% respectively on a like-for-like basis.
First-quarter revenue for the health business and the nutrition division came in at GBP1.12 billion and GBP742 million, respectively.
"An exceptionally weak cough, cold and flu season during the quarter, with incidences estimated to be down by around 90%, has resulted in a significant reduction in demand for a number of our [over the counter] brands such as Mucinex, Nurofen and Strepsils, as well as Airborne, our immune support brand," Reckitt Benckiser said.
The company said it expects business conditions to improve for its health division, as the easing of pandemic restrictions, the return to schools and the overall relaxation of social distancing is likely to drive a stronger cough season in 2021 and 2022, boosting demand for its immune support products.
Similarly, looser stay-at-home policies are likely to generate an improvement in the sexual-wellbeing unit, it said.
The company said it expects like-for-like revenue growth for the remainder of 2021 to be flat to 2%, and that it remains on track to achieve its medium-term goals, with anticipated mid-single digit revenue growth.
Reckitt Benckiser said it expects to invest GBP1 billion over the next decade to boost its sustainability position. Its targets include a 50% reduction in carbon footprint during the period.
Shares at 0725 GMT were down 125 pence, or 1.9%, at 6,461 pence.
Write to Matteo Castia at firstname.lastname@example.org
(END) Dow Jones Newswires
April 28, 2021 04:02 ET (08:02 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.


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Vivo on Tuesday launched its new Nex series of smartphones with an all-screen display design and the much hyped, pop-up camera. The Chinese handset manufacturer has launched Nex A and Nex S smartphones in China. The biggest highlights of the new Vivo Nex A and Nex S are 91.24 per cent screen-to-body-ratio with 1.71mm narrow bezels on the side of the display and a unique, pop-camera design.
Vivo during the keynote confirmed that the new Nex smartphones come with an all-new Screen SoundCasting Technology which will mean that this will replace the need of speakers on the devices. The Chinese company says that the screen tech offers improved audio experience through screen.
The Vivo Nex S comes with fingerprint scanner embedded in the display. The company claims that this is the improved version of the in-display fingerprint which was recently seen on the Vivo X21 that launched in India. The Vivo Nex A, on the other hand, comes with fingerprint scanner placed at the back panel.
The Vivo Nex S has been launched in China at CNY 4,498 (roughly Rs. 48,000) while the Nex A will be going on sale at CNY 3,898 (roughly Rs. 41,000). There will be a 256GB variant of the Nex S which will be available at CNY 4,998 (roughly Rs. 52,500). Both the phones are set to go on sale in China from June 23.
Vivo Nex A in Diamond Black colour
Both the phones come with identical innards like 6.59-inch Full HD+ Super AMOLED display with an aspect ratio of 19.3:9, dual-SIM support, run on Funtouch OS 4.0 based on Android Oreo. The camera set-up on both the phones are also similar with a dual rear setup at the back featuring 12-megapixel primary sensor with dual-tone LED flash, OIS, and f/1.8 aperture. There's a secondary 5-megapixel camera as well on-board. At the front there's an 8-megapixel camera. Both the phones come with 3.5mm audio jack and 4G VoLTE support. They also pack 4000mAh battery with fast charging support.
The Vivo Nes S and Nex A pack different chipsets. The Vivo Nex S is powered by 2.8GHz octa-core Snapdragon 845 processor coupled with 8GB of RAM with 128GB/ 256GB storage. The Nex A is powered by Snapdragon 710 processor coupled with 6GB of RAM with 128GB storage.


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A forecast of trends influencing banking over the next 12 months cites vertically integrated business models continuing to give way to platform and marketplace-driven banking.
Infosys Finacle recently released its annual banking trends forecast for the year 2019, and it said open banking and API-led business models will play key roles globally.
"The traditional vertically-integrated pipeline business model where banks manufacture and sell their own products is giving way to specialist roles," the forecast said.
"For the longest time, it was only banks that designed and sold their own products. Then, they added complementary partner products, such as insurance, to their stable.
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"The digital age brought in new non-bank players and partnerships, white labelling and co-creation. Now, as banks become open platform businesses, they are bringing non-financial offerings and competing financial products into their fold."
In Australia, open banking will especially open "windows of opportunity".
"As the traditional banking model changes to an open one, banking KPIs will need to adapt based on whether the bank is a manufacturer, distributor, marketplace or a combination of the three," the forecast said.
"In open banking, banks will acquire customers using tools and techniques that are very different from the traditional sales and marketing campaigns.
"For services such as personal financial management, measuring the number of sign-ups would no longer be adequate, but quantifying how customers benefit from the service will prove to be a more crucial measure of success and adoption of the service."
The report is based on consultation with banking experts in 100 countries, and captures 12 business and technology trends that will influence banking over the next year and beyond.
| Technology trends for banking in 2019 || Business trends for banking in 2019 |
|Accelerating architectural evolution ||Transition towards platform business model will accelerate |
|AI in the bank ||Customer journeys will advance to the point of primary intent |
|Blockchain ||Open banking |
|Steady advance towards public cloud ||Cyber defence versus hacker intelligence |
|Accelerating connected commerce ||Optimising digital-human interplay |
|Increasing interactive dimensions ||Data privacy and ethics |


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During the past two years, we have seen signs that wage pressure is building as the economic recovery grinds on. Enough evidence has now accumulated to suggest that it is already happening.
The harm of inflation cited in economics textbooks seems laughably unimportant. For example, inflation generates so-called shoe-leather costs — a term for the hassle of moving money from one’s brokerage or savings account to one’s checking account. This hassle is larger when prices change a lot, since you have to put spending cash in your wallet more often.


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KUALA LUMPUR – The COVID-19 global pandemic and the resulting Movement Control Order to contain the disease could potentially push people to become poorer in 2020.
The COVID-19 global pandemic however benefitted the industry of e-commerce and companies selling masks, surgical gloves, ventilators, personal protective equipments and supplying boxes for food deliveries.
On the downside, the effects of after almost five weeks of lockdown inflicted a brutal blow and the reality that the rest of us have become poorer.
Hundreds of budget hotels around the country are on the verge of closing down. Airlines, tour operators and businesses were among the earliest to be hit hard. Most of the small and medium enterprises (SMEs) were impacted as owners struggle to pay rentals and other operating costs due to zero revenues.
The income of most Malaysians has also been affected with food becoming more expensive eventually. Businesses who continue to struggle to earn revenue may cut employee to avoid bankrupt. Many people will need to remove non-essential expenses. With the world coping up with the ‘new normal’, People need to live much simpler lives for the mean time until the economy recovers from this pandemic.


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The Great Recession has shown the dangers of household debt. In the U.S., the process of household deleveraging has held back consumer spending, keeping unemployment high and the economy depressed. In Spain and Ireland, households and the government are being forced to slash spending sharply, pushing both economies into painful recessions.
“Countries with the largest increases in household leverage tended to experience the fastest rise in house prices over the same period,” according to a paper from economists at the Federal Reserve Bank of San Francisco. “Moreover, these same countries tended to experience the most severe declines in consumption once house prices started falling.”
My article today discusses the very high levels of household debt in the Netherlands. Dutch household debt exceeds 240% of disposable income*, the highest level in the euro zone. But the Dutch economy has been one of the developed world’s most resilient economies throughout the crisis, right? Unemployment is under 5%, and the government still has no problem financing its debt, which is something of an achievement in today’s euro zone.
So why isn’t Dutch household debt more of a problem for the economy? Actually, it’s shaping up to be a big problem. The country’s economy has arguably performed worse than the U.S. economy during the crisis. The Netherlands registered a 4.9% peak-to-trough GDP contraction, compared to 5.2% in the U.S – but Dutch GDP has yet to recover to its pre-crisis level. U.S. GDP exceeded its pre-crisis level in the third quarter of this year.
Over the past two years, Dutch domestic demand has lagged growth in the U.S. The European Commission expects private consumption in the Netherlands to fall 0.7% this year and 0.4% in 2012. That may be a sign Dutch households are pulling back spending in the face of their large debts.
The paper from the San Francisco Fed shows that, as of the first quarter of 2009, the Netherlands had experienced a smaller drop in consumption than might be expected of a country that saw its household debt levels rise so dramatically over the past decade. But the decline may well have fulfilled expectations since then.
Worryingly, while the deleveraging process is well under way in the U.S., it has barely started in the Netherlands. The Dutch household debt-to-income ratio in 2010 was at an all-time high, and it finally appears to have fallen this year. Dutch regulators, concerned about household debt levels, are putting pressure on banks to tighten their lending standards.
That will put more downward pressure on home prices, forcing people to pay down their mortgage principal rather than, for example, taking out home equity loans to fund consumption. The Dutch economy could be facing several more years of anemic consumer spending that will depress overall growth.
What’s an economic policymaker to do when faced with this problem? Are economies like the Netherlands doomed to years of painful deleveraging, the hangover after the decade-long party of easy credit? No. One solution is for the government to increase spending to offset the decline in spending by households. That would boost incomes and reduce the household debt burden.
But the EU’s strict budget rules mean that the Dutch government won’t be allowed much extra deficit spending.
Another solution is for the European Central Bank to pursue more expansionary monetary policy, delivering more GDP growth – or at the very least a burst of inflation that will reduce the real burden of household debts. But the ECB is unlikely to stray wildly from its strict price-stability mandate, at least not anytime soon.
So instead, Dutch households will be forced to reduce the nominal value of their outstanding debts. That’s a recipe for years of slow growth.
Follow @DJMatthewDalton on Twitter.
*Yes, some Dutch mortgages require households to deposit savings in separate accounts that are dedicated to repaying the mortgage principal. Including these savings would lower gross household-debt-to-income ratios somewhat. But Dutch regulators believe the amount saved in such accounts is modest. Moreover, this product is available in other countries where interest-only mortgages are common, so the relative position of Dutch household debt wouldn’t be changed.


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SAN FRANCISCO -- Intel (INTC) - Get Intel Corporation Report sharply reduced its fourth-quarter sales expectations Wednesday, citing "significantly" weaker-than-expected demand in all regions and across all product types.
The world's No. 1 maker of PC microprocessors said revenue in final three months of the year is now expected to be $9 billion, plus or minus $300 million, instead of its previously forecasted range of $10.1 billion to $10.9 billion.
Intel also said its gross profit margin in the quarter will be 55%, plus or minus a couple of points, instead of the 59% level previously expected.
The news comes a week after CEO Paul Otellini described the current economic slowdown as the worst he'd seen in his lifetime.
Intel was slated to give Wall Street a midquarter update on Dec. 4, but the company said that Wednesday's warning replaces that event.
Shares of Intel were halted; they're scheduled to resume trading at 5:20 p.m. EST. The stock closed the regular session off 2.9% to $13.54.


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The search engine giant - which is in the process of rolling out Google Buzz to millions of Gmail customers - has incorporated Facebook-style networking features such as instant messaging and photo and video sharing into its exsiting email service.
Its creators hope Buzz will overtake social networking market-leader Facebook, which currently boasts 400 million users worldwide.
Todd Jackson, Google Buzz’s product manager, said: “Google Buzz is a new way to start conversations about the things you find interesting.
“It’s built right into Gmail, so you don’t have to peck out an entirely new set of friends from scratch.”
Google said its mission is to help users find “relevance in the noise” of digital information on the internet.
Mr Jackson added: “In today’s world of status messages, tweets and update streams, it’s increasingly tough to sort through it all, much less engage in meaningful conversations.”
Buzz also gets a mobile phone platform for keeping in touch on the move.
Messages and photos posted from a mobile phone can be geographically tagged on a Google Maps layer to pinpoint where they were sent.
But despite entering the sphere of rival social networking services, Google insists it will remain “fully open” and allows users to connect to rival sites Flickr and Twitter from Buzz in Gmail.
Google is also inviting developers and programmers to help build applications for its open software.
Technology magazine T3’s acting editor, Luke Peters, believes Google has the influence to make its late entry into the social networking market successful.
He said: “While Google Buzz seems like a project that should have been launched before the Facebook and Twitter explosion, its dynamic integration with existing social networking services and your existing Google contact list could make it a workable centre-point for information delivery and retrieval.
"With an email-ring style approach to social networking, it could capture the imagination of the mainstream.”
However, Justin Pearse, editor of New Media Age, believes the search giant might struggle to crack the market.
He said: “Google Buzz is yet another attempt to launch a new service beyond its core search engine. Consumers and advertisers have embraced existing social networks and it will be very difficult to tempt them away to Google’s latest attempt at social media.”


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In the Spring of April 2015, Sony acquired OnLive. At the time, it was just a startup with a subscription service that promised gamers a world where they could play PC video games on any device – even an iPad.
Alas, times change. Sony took OnLive’s technology and turned it into a service that could stream PlayStation 3 games to PlayStation 4, PlayStation Vita, and several of Sony and Samsung’s TVs and Blu-ray players. The service was unique, as gamers could play PlayStation 3 games on their TV without buying Sony’s console.
Initially, it was also a selling point for the PlayStation 4, as Microsoft had not figured out a way to bring Xbox 360 games to Xbox One yet. It didn’t take Microsoft long to rectify that.
On the PC
In February, this year, Sony announced that it would discontinue PlayStation Now for PlayStation 3, PlayStation Vita, and all the Sony and Samsung TV models on 15th of August, 2017.
The reasoning behind this decision, per Sony, is to solely focus on the experience for Windows PCs and the PlayStation 4 console.
By August, PlayStation Now will stream PlayStation 3 games to just the PlayStation 4 consoles and Windows PCs.
But soon, PlayStation Now will also stream PlayStation 4 games to PlayStation 4 and Windows PCs. The first part of that is redundant; the second part will bring all the PlayStation 4 exclusives to Windows. That’s significant.
Sony is yet to reveal the list of PlayStation 4 games that would be playable via PlayStation Now. However, it should be safe to assume that there would be exclusives. PlayStation Now already includes PlayStation 3 exclusives such as The Last of Us.
PC – specifically Windows – has the potential to become the only platform that matters. Microsoft is already publishing Xbox exclusives on Windows 10 via the Xbox Play Anywhere program. Sony’s PlayStation Now service could fill the gap on the other side.
Not for all
It’s not all blossom, however. OnLive’s idea is quite unique. It involves rendering the game in a server farm, and then streaming it to any device over the internet. It, however, has its problems.
The fast-paced, interactive nature of games – especially twitch games such as first person shooters and platformers – makes streaming a challenge. The technology requires extremely low latencies, as well as a decent chunk of bandwidth.
In other words, to stream games over the internet, one must first get a stable internet connection. That’s a luxury for most parts of the world.
PlayStation Now, therefore, could work in most of Western Europe and parts of North America but would deliver a poor experience in most parts of the world.
That’s not a fault of the service but is a rather difficult technical limitation. NVidia’s GeForce Now, a similar service for PC games, has to deal with the same issues.
— PlayStation (@PlayStation) March 13, 2017
Sony hasn’t said when gamers can expect to see PlayStation 4 games on PlayStation Now. The only word we have is “soon.” However, Sony’s timing is interesting.
Just last week, Microsoft announced the Xbox Game Pass, a service that would bring a plethora of Xbox 360 and Xbox One games to gamers on Xbox One. It’s a subscription service too, but it’s cheaper than PlayStation Now.
The Xbox Game Pass also does not stream games but rather downloads them. That’s a better experience for everyone.
In this battle of the giants, there is only one who benefits: the consumer, especially the ones committed to Windows 10.


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Concerned about its image, French fashion brand Lacoste has asked Norwegian police to stop allowing Anders Behring Breivik to wear its clothes.
Breivik is the man who was arrested for the terrorist attack on Oslo in July. He allegedly killed 77 people when he detonated a bomb in the capital and then went on a shooting spree at a nearby summer camp.
When appearing in court, Breivik likes to wear Lacoste clothes, a fact which is a nightmare for the company. Additionally, in what is perhaps the most famous image of Breivik, the Norwegian killer sits in a police car with a unfazed expression on his face, wearing an orange Lacoste sweater, the signature crocodile clearly visible.
The company feels that such a man sporting their clothes could do considerable harm to their reputation, an Oslo police spokesperson told The Telegraph.
It has been noted before that Breivik is obsessed with clothes and appearance. In his 1,500-page manifesto, Breivik outlined a dress code for any potential followers, insisting that refined people like him should wear brands like Lacoste.
He also requires that recruits in his army have a photo shoot done, and he recommends that they go tanning, work out and have four costume changes immediately available.
Lacoste has officially remained silent on the matter, but The Telegraph reports that the company has sent a letter to Norwegian authorities.
This situation is clearly a nightmare for one of France's most distinguished clothing companies, concluded French daily Liberation.


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Scott Guthrie, corporate vice president of Microsoft's .NET Developer Division, began talking about Silverlight 3 in November 2008. With MIX09 happening next month though, the man who will be making the keynote is beginning to talk more about Microsoft's plans for its Flash alternative. He has already mentioned that Silverlight 3 is going to a pretty major update; graphics improvements like hardware acceleration, H.264 support for video, and the ability have some 3D effects are in the works. The real challenge Microsoft is facing is keeping Silverlight as small as possible while adding major features.
Still, in an interview with Channel 9, Guthrie reveals that the software giant is hoping to allow developers and designers to do things in Silverlight that they can't do with current Web technologies. "The types of new things that you can't do with Ajax, or Flash, or really anything else inside the browser - you're really going to see that more and more this year," Guthrie said.
Note that Guthrie doesn't explicitly say that such features are coming in Silverlight 3—he's mainly talking about this year and the next—so he may actually be hinting at what the company is working on for Silverlight 4. Eithery way, Silverlight 3 Beta 1 will likely be announced at MIX09, so we'll finally be able to see what the company has been up to since the release of version 2 in October 2008.


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The start of engine production at Wolverhampton marks the first time Jaguar Land Rover has built engines in-house for a generation. Jaguar’s own AJ16 and V12 engines ceased production in 1997, to be replaced by V8s and V6s designed by Ford. Land Rover’s engine line at the Solihull factory was shut in 2012. Both parts of JLR have continued to buy-in engines from Ford while diesel engines have been developed and built jointly with Ford and Peugeot.
The new Engine Manufacturing Centre will build an all-new, all-JLR engine family named Ingenium. At present Wolverhampton only builds a 2.0-litre diesel engine for the upcoming Jaguar XE small saloon, which will be built at Solihull, but petrol versions and V6 and inline-triple versions in both spark- and compression ignition forms will follow. The facility cost £500 million to build and will employ 1400 people directly and around 5500 in the supply chain when at full capacity.
The cloud that cast a small shadow on JLR’s day of good news came in the form of the threat of industrial action from the workforce at the Solihull, Castle Bromwich and Halewood assembly plants. Trade union Unite’s shop stewards in the company collectively rejected a three-year pay deal that represented a package of pay rises, bonuses and inflation-linked increases representing a total increase of around 14 per cent – a figure Unite described as ‘disappointing’ amid concerns over how the bonuses would affect pensions and the state of employee pay at a time when JLR is making record profits.
Unions are now consulting with the 18,000 workers at JLR’s three main plants in anticipation of a ballot on taking strike action. If such action went ahead it would be the first full-blown pay dispute at JLR (or, more accurately, its constituent companies) in over a decade.


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Honor 8C will become official next month. The company has sent out invites to a launch event scheduled for October 11 in China. Honor 8C will be a successor to Honor 7C, which came to India in May this year.
In a related news, another Honor smartphone bearing the model number BKK-AL10 has appeared on a Chinese certification website TENAA. The phone in question is reportedly believed to be Honor 8C. The TENAA listing has revealed most of the key specifications of the handset.
As far as the listing is concerned, Honor 8C sports a tall 6.28-inch HD+ minimum bezels screen featuring 1,520 x 720 pixels resolution. The smartphone, could be powered by a Snapdragon 450 chipset this time around. It packs 4GB of RAM with either 32GB or 64GB of expandable storage.
In terms of photography, it houses 13MP+2MP dual rear cameras. Up front, there’s an 8MP shooter for selfies and video calls. Last but not least, it’s based on a 3,900mAh battery, which is a noteworthy upgrade over a 3,000mAh battery on the Honor 7C.
Also Read: Honor 7C Review
Meanwhile, Honor 7C price in India starts at Rs 9,999. It features a 5.99-inch HD+ IPS display with a screen aspect ratio of 18:9. It is powered by a Snapdragon 450 processor and runs on Android Oreo-based EMUI skin. It has two storage options: 3GB RAM and 32GB internal memory, as well as 4GB RAM with 64GB expandable storage.
Honor 7C supports Face Unlock, despite having a rear-mounted fingerprint scanner. The handset is backed by a 3000mAh battery. Honor 7C features a 13MP + 2MP dual rear cameras and an 8MP selfie camera with f/2.0 aperture.
Connectivity options on this dual-SIM phone include 4G VoLTE, Wi-Fi 802.11 b/g/n, Bluetooth 4.2, GPS/A-GPS, a micro USB port, and a 3.5mm headphone jack.


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Consumer confidence in the economy increased in September, but spending remained flat, according to Discover Financial Services.
The Riverwoods, Ill., credit card company said Wednesday that its U.S. Spending Monitor rose to 89 in September, from 87 in August. The index was pegged at 100 when it was introduced in May 2007.
One-third of consumers surveyed in September said they felt economic conditions were improving, compared with 31% in August.
Thirty-three percent of respondents rated their finances as "good" or "excellent," the highest in four months and 1 percentage point higher than in August.
Nearly one in five, 19%, said they planned to spend more money this month, down 1 percentage point from August and continuing a four-month decline.
"Consumers definitely feel economic conditions are getting better, but over half still rate current economic conditions as poor," Julie Loeger, Discover's senior vice president of brand and product development, said in a press release. "Combine that with uncertainty as to where their personal finances are headed, and you can see why consumers are still very cautious with their spending intentions."


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Roark Capital Group, an Atlanta-based private equity firm focused on franchise and consumer brands, announced today that its affiliate has acquired Driven Brands, the nation’s leading franchise automotive company, from Harvest Partners, LP (“Harvest”). Jonathan Fitzpatrick, Driven Brands’ Chief Executive Officer, will continue to lead the business and the Company will remain headquartered in Charlotte, N.C.
Driven Brands manages a family of automotive companies including MAACO®, Meineke Car Care Centers®, Merlin 200,000 Mile Shops®, Pro Oil Change®, Econo Lube & Tune, AutoQual®, Aero-Colours® and Drive N Style®. Collectively, the brands generate annual system revenues of approximately $1 billion through 1,500 locations in 50 states and 2 countries.
Roark Capital has acquired 42 multi-unit brands which generate annual system revenues of approximately $17 billion through 20,000 locations that operate in 50 states and 72 countries.
“This is an exciting day for Driven Brands and our family of franchisees,” said Jonathan Fitzpatrick, Driven Brands’ CEO. “Roark Capital brings us deep experience investing in growth consumer and franchise businesses, and their understanding of the importance of the franchisor-franchisee relationship makes them the right investment partner for all of our stakeholders.”
“We are very excited to welcome Driven Brands to the Roark Capital family,” said Neal Aronson, Managing Partner of Roark Capital. “We have great admiration for the franchisees who have made these iconic brands so successful, and are thrilled to contribute to their future growth.”
April 17, 2015


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Retail Waste Management London, UK look at Governments decision to rule out landfill ban for textiles waste. The government has rejected a call to ban used textiles from landfill and has instead decided to focus on proposals within the resources and waste strategy, including plans for more extended producer responsibility schemes.
As leading suppliers of retail waste management London UK, we consider this decision.
In response, the environmental audit committee have spoken out against the government’s decision to reject what they see as a need to act urgently and end an era of “throwaway fashion”.
Earlier this year, the same committee published a report in which it called for action to address the so-called “throwaway fashion” trend that results in over a million tonnes of clothing disposal per year in the UK through retail waste management London.
Recommendations to government included a landfill and incineration ban for unsold stock to a 1p charge per garment for producers, to help fund material collection. In their response, the government ruled out any sort of landfill ban for textiles and instead opted for alternative approaches. Notably, it said that it would consider extended producer responsibility measures for textiles as part of an existing waste strategy commitment.
In order to ease the strain on retail waste management London, the government stated that the priority for unsold stock should be to reuse and recycle, ahead of incineration and landfilling. The official statement included the following: “This priority is embedded in the waste hierarchy and legislation is in place to support this. We believe that positive approaches are required to find outlets for waste textiles rather than simply imposing a landfill ban and, as set out in the Resources and Waste Strategy, we are developing a mix of policy measures to support reuse and closed loop recycling.”
Ministers have said that they will focus on the continued support of WRAP’s voluntary Sustainable Clothing Action Plan (SCAP) and looking at areas such as eco design and eco labelling. The government response said: “We will take forward the best mix of policy measures to tackle the environmental impact of textiles, considering voluntary commitments, eco-design product standards, the potential for extended producer responsibility, the provision of better information for consumers on the sustainability of their purchases as through improved product labelling and improving collection systems”.
And the government went on to emphasise its support for SCAP saying it is encouraged by the collective efforts made by SCAP members to date. “The latest SCAP report… shows that between 2012 and 2017 signatories have reduced their water and carbon footprints by 17.7% and 11.9% respectively against a target of 15% per tonne of clothing by 2020, and waste across the product life cycle by 1.1% against a target of 3.5%. More work is required to address waste in the supply chain and SCAP signatories are working on plans to address this, for instance through buying specifications and supplier engagement programmes.”
As a leading supplier of retail waste management in London, UK, who hold the protection of our environment in the highest regards, we are someone disappointed at the governments stance, who seems to be unmoved by the alarming statistic that we are sending 300000 tonnes of clothing to incineration or landfill each year.
Urgent action must be taken and we still proudly live up to our commitment as a retail waste management London company of diverting 100% of waste away from landfill.
If you would like to speak with one of our specialist project managers or get a price for your project, please email firstname.lastname@example.org.
We can also offer a variety of service based presentations, included approved CPD, covering various aspects of environmental assessment.
T: 01932 868584.


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The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
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CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
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Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
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Markets would like Fed Chairman Jerome Powell to clarify whether the Fed sees itself at the beginning of a serious, longer-term rate cutting cycle.Market Insiderread more
"If we end up seeing more erosion in the so-called multichannel [cable and satellite TV] bundle, quality will win out," he told CNBC's "Squawk Box. "
"While the business model may face challenges over the next few years, long term for ESPN ... they'll be fine. They have pricing leverage, too," Iger said. "Disney [Channel] is another ... brand and product that could be sold directly to the customer."
Disney owns ABC television and ESPN, theme parks and resorts, and movie studios under the Walt Disney Pictures, Pixar and Marvel banners.
"Technology is the most disruptive force that so-called traditional media ... is facing," he said.
"[But] we decided to view technology as a friend, not a foe," he continued, to bring better customer experiences across all of our businesses from making media look crisper on HD televisions to mobile and online viewing apps to enhanced attractions at theme parks.
With Shanghai Disneyland set to open in about a year, Iger said he's not too worried about the recent meltdown in the Chinese stock market, which fell nearly 8.5 percent overnight.
"We opened up a new Disney store in Shanghai a few months ago, and I was there the week before last, [it's] still doing extremely well," he said.
"We haven't opened the theme park yet. So we don't fully know, but the research that we've done so far suggests that the Chinese consumer is not really in terms of its behavior indicating there's an issue," he added.
"We believe in that market for a Disneyland big time," he continued. "It's probably the most exciting opportunity the company has had in a long time, and definitely the most exciting opportunity we've ever had outside the United States."
Shanghai Disneyland is a joint venture between Disney and entities owned by the Chinese government.
Over the weekend, Disney-Marvel's "Ant-Man" again won the domestic box office—just beating out Sony's Adam Sandler comedy "Pixels," which pulled in a disappointing $24 million in its debut.
"Ant-Man" made an estimated $24.8 million in its second weekend—breaking above $106 million in total U.S. and Canadian ticket sales and more than $120 million worldwide, according to Box Office Mojo.
The first 11 movies in Marvel's shared super-hero universe have grossed more than $8.5 billion at the global box office.
With Marvel firing on all cylinders, Disney is also franchise—with "The Force Awakens," set for release in December. It's the first of three films being produced since Disney bought Lucasfilm in 2012 for $4 billion.
"I've seen the film without most of its special effects and without most of its music," Iger said. "I can't wait for the world to see it."
"We're making standalone films which we've announced, two," he said—referring to a project exploring the backstory of a young Han Solo and "Star Wars: Rogue One" involving a heist surrounding Death Star plans.
The six previously released "Star Wars" films have grossed more than $4.4 billion at the worldwide box office since 1977.


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British Luxury Cruise Line Cunard is Deploying Starlink
Luxury British cruise line Cunard signed a deal for SpaceX’s Starlink internet service across its fleet, the company announced Monday.
Cunard began rolling out Starlink on its fleet in June. The service will be available in public spaces on all three Cunard ships, the Queen Mary 2, Queen Victoria, and Queen Elizabeth by the end of 2023. The line’s newest ship, Queen Anne, will launch with the service in May 2024.
“Whether it’s uploading a picture of a sunset as you sail away from a newly discovered destination or catching up with the news, live events, or content from home, Starlink will make it even easier for our guests and colleagues to stay connected,” Cunard President Katie McAlister commented.
Starlink has had a successful entry into the cruise market, landing deals with a number of cruise lines including Norwegian Cruise Line, Royal Caribbean Group, American Cruise Lines and Windstar Cruises.
Last week, SES announced it will include Starlink into its offerings for cruise companies, offering a hybrid Low-Earth Orbit (LEO) and Medium-Earth Orbit (MEO) solution. SES said this offering came out of customer demand, from SES customers who also adopted Starlink. Satellite service providers including Speedcast and Marlink also integrate Starlink into their offerings.


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Telefe Intl., Argentina’s biggest TV program exporter, promoted Michelle Wasserman to manager of content distribution, replacing Silvana D’Angelo who left to join telenovela distributor/programmer Dori Media Group.
Previously senior sales executive, Wasserman will handle worldwide content sales.
In the shift, Telefe Intl. hired Maria Eugenia Ferrer as senior sales executive and promoted Meca Salado Pizarro to head of marketing and publicity.
Telefe Intl. handles foreign distribution of independent production companies like Cris Morena Group, Ideas del Sur, Pol-ka and RGB Entertainment.
Wasserman will report to Alejandro Parra, director of international businesses at Spain’s Telefonica-owned Telefe, which is the leading broadcaster in Argentina.


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Fannie Mae's Home Purchase Sentiment Index® (HPSI) suffered its third decline in as many months in October. The Index, based on responses to six key questions in the company's monthly National Housing Survey, dipped 1.1 points from September to 81.7. Decreases were posted for four of the six components. Overall, the HPSI is down 1.5 points since this time last year.
The share of consumers reporting significantly higher income over the past year experienced the largest drop, decreasing eight percentage points on net. The share of consumers who reported having a higher income fell from 25 percent in September to 20 percent while those reporting lower income climbed 3 points to 16 percent. The net figure for this component peaked at 18 percent in May and is now at 4 percent.
Fewer consumers expect continuing price rises over the next year and there was a slight gain in those awaiting a decline resulting in a 3-point decrease in the net share still predicting appreciating values. Those who expect mortgage rates to drop and those who are confident about not losing their job each dropped by one percentage point in October.
The measures of those consumers thinking it is either a good time to buy a home or a good time to sell one each increased. Partially reversing the decrease from last month, the net share of Americans who say it is a good time to buy a house rose by 2 percentage points to 31 percent. The share who think it is a good time to buy remained at an all-time survey low of 30 percent.
The net percentage of those who say it is a good time to sell rose 4 percentage points to 19 percent, 1 percentage point away from the all-time survey high seen in July. The share who think it is a bad time to sell tied an all-time survey low of 36 percent last reached in July.
Doug Duncan, Fannie Mae's senior vice president and chief economist said, "The HPSI fell in October for the third straight month from its record high in July, reaching the lowest level since March. Recent erosion in sentiment likely reflects, in part, enhanced uncertainty facing consumers today. Since July, more consumers, on net, have steadily expected mortgage rates to rise and home price appreciation to moderate. Furthermore, consumers' perception of their income over the past year deteriorated sharply in October to the worst showing since early 2013, weighing on the index. However, this component of the HPSI is volatile from month to month, and the firming trend in wage gains from the October jobs report, if sustained, may foreshadow an improving view in the near future."
The Home Purchase Sentiment Index (HPSI) distills information about consumers' home purchase sentiment from Fannie Mae's National Housing Survey® (NHS) into a single number. NHS is conducted monthly by phone among a panel of about 1,000 consumers, both homeowners and renters. They are asked about 100 questions to assess their attitudes toward owning and renting a home, home and rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence.


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Company Virgin Galactic (NYSE: SPCE) announced the date of subsequent flight tests. If the system passes the techno test, and the meteorological situation will be appropriate, the flight can take place already 11 july. A turnaround countdown has been launched on the company's Internet resource: nine days left.
MegaBlog- — this is a consolidation of posts from popular trading blogs . This section will allow you to track interesting topics and track popular trends in trading., understand what traders live.
Public Storage (NYSE: PSA) — fund, nesting in storage rooms. This is a measured and well-developed business. The only inconsistency for him may be an increase in rates in the United States.. What happens here Readers have long asked us to start analyzing the reporting and business foundation of foreign issuers..
Sportswear manufacturer, Nike shoes and accessories (NYSE: NKE) reported for the 4th quarter 2021 monetary year: revenue increased to 12,3 billion dollars — eighty-six percent compared to last year and twenty-one percent relative to 2019 of the year; digital sales added forty-one percent year-on-year and 147% by relation to 2019 Year; unblemished profit was 1,5 billions — against the loss in 0,8 billions a year ago; gross margin increased by 850 basis points, from 37,3 to 45,8 …
FedEx logistics company (NYSE: FDX) disclosed cash figures for the 4th quarter of the 2021 financial year: revenue increased by thirty percent, up to $22.6 billion; operating profit increased by 279%, up to 1.8 billion, and adjusted operating profit by 117%, up to 2 billion; unblemished profit including non-cash items amounted to 1.9 billion, and adjusted unblemished earnings increased by 105%, up to 1.4 billion. And oh so ended for FedEx 2021 cash year.: revenue increased by twenty …
Monday, 28 June To Release Herman Miller Report Creating Furniture and Equipment
26 June Pharmaceutical Company Johnson & Johnson (NYSE: JNJ) announced the conclusion of a settlement agreement with the state of New York in the opioid case. For 9 years the company will pay the state 230-260 million dollars as compensation. More J&J will not be able to promote opioid drugs as locally, and at the national level.
PetroChina (NYSE: PTR) - Chinese oil and gas production organization. The company experienced the Covid decline with honor and is now recovering.. However, there are political dangers. What happens here Readers have long asked us to start analyzing the reporting and business foundation of foreign issuers..


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SAN FRANCISCO (Reuters) - Shares of Vista Outdoor Inc rose on Thursday after the company said high retail inventories of its guns and ammunition should normalize by mid-year following an “unprecedented” drop in demand after the election of Donald Trump as president.
Vista Outdoor gave a full-year outlook that was shy of analysts’ average expectations, but some on Wall Street took the overall report as the latest hint that a slump in gun sales might be stabilizing.
Its stock rose 1.7 percent, while Smith & Wesson’s owner, American Outdoor Brands Corp, gained 1.5 percent. Sturm Ruger & Company dipped 1.5 percent, but it remains up 10 percent from Monday, when it reported a lower-than-expected decline in March-quarter revenue.
The November election of Republican Trump, who opposes regulations on gun ownership, abruptly undercut demand for guns as people became less worried the government would curtail their ability to purchase firearms.
Vista Outdoor said in a press release it expects inventories at retailers caught out by the drop in demand to stabilize by the middle of its fiscal year, although it also said it expects weakness to continue beyond then. Vista Outdoor’s fiscal year ends in March.
“A lot of investors are encouraged by that,” said Wunderlich analyst Rommel Dionisio, who recommends buying Vista Outdoor.
Recent data on firearm background checks also hints at stabilization. After a sharp post-election drop, background checks in April were flat compared with April 2016, according to the National Shooting Sports Foundation.
Data on background checks is collected by the Federal Bureau of Investigation and the NSSF adjusts it to remove checks for conceal-carry permits so that it better reflects actual gun purchases.
In addition to guns and ammunition, Vista Outdoor sells archery gear, bicycle helmets, scopes and other sports products. It has been slammed by a wave of retail bankruptcies, including those of Sports Authority and Gander Mountain, which sold many of its products. Its stock remains down 55 percent in 2017.
Vista Outdoor reported March-quarter revenue down 5 percent at $579 million and adjusted earnings per share of 3 cents. A write-off of receivables from a bankrupt retail customer knocked 18 cents off Vista Outdoor’s EPS.
It forecast full-year revenue of $2.36 billion to $2.42 billion. Analysts on average had estimated $2.42 billion.
Reporting by Noel Randewich; Editing by Dan Grebler


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Testers question stability of latest Vista beta
What began as a murmur a few months back is turning into an audible grumble as beta testers and experts question the stability of the latest Windows Vista beta and Microsoft itself hints at yet another release delay.
Testers and pundits alike say Vista Beta 2, released publicly in June, is plagued by bugs and blue screens. Some testers are saying a Beta 3 cycle, which is not currently planned, may be needed and that the software isnít ready for final testing before shipment, which Microsoft calls a Release Candidate (RC1). Testers question stability of latest Vista beta - Network World
Back to: PC Security, privacy news


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Earlier this year, the Tourism Grading Council of South Africa officially introduced a new 5-star premium rating.
According to the council, the introduction of the new grading level above the 5-star level was in response to a widespread comparative study completed as part of the grading system review process.
A number of similar global quality assurance bodies have made the move to recognise and differentiate those products which exhibit a unique level of product quality, extensive guest amenities and world-class luxury service standards.
“South Africa prides itself for being a tourism destination that has a variety of products catering for various traveler needs and affordability, said Darryl Erasmus, chief quality assurance officer at the Tourism Grading Council of South Africa.
“Much time and energy has gone into setting grading standards that have the traveller’s needs at the centre. This helps maintain South Africa’s global competitiveness as a tourist destination.”
Below BusinessTech looked at some of the South African hotels which have been awarded this 5-star premium grading:
Lion Sands Ivory Lodge – Mpumalanga
Cape Town’s The Silo Hotel – Western Cape
Hermanus’ Birkenhead House – Western Cape
Royal Malewane Lodge – Mpumalanga


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Consumers are being warned to be on their guard after an increase in the number of scams reported to Derbyshire County Council.
The authority’s trading standards team received 690 reports of con attempts from members of the public from April 2011 to March 2012.
It was a 24 per cent increase on the 556 complaints received for the same period the previous year.
Two of the most reported cons see scammers trick consumers into buying fake vouchers and give away personal and bank details.
Anyone with information should ring 08454 040506.


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The Noida-based firm has seen several exits in the past two years
Three senior executives at Paytm have quit the financial services firm that recently listed on the Indian stock exchange, a news report said Thursday.
According to a report in the Mint, Abhishek Arun, chief operating officer (COO) of Paytm Payments Bank; Renu Satti, COO, offline payments; and Abhishek Gupta, senior vice-president and COO, lending, have left the firm.
“After a fulfilling six years at Paytm ( across One97 & Paytm Payments Bank) I’ve made the difficult decision to leave the company and explore new opportunities,” said Arun in a LinkedIn post a week ago.
Satti has been with Paytm since 2006, having served in many roles across business lines.
Gupta joined Paytm last year as senior vice-president and COO-lending, has resigned and is currently serving his notice, said the financial daily.
However, he denied having quit the company to the publication.
Paytm did not comment on the news of the resignations.
The Noida-based firm has seen several exits in the past two years. A few months before its IPO in November, Amit Nayyar, Paytm’s president, also left the company. The former Goldman Sachs executive was brought in in 2019 to build and head the company’s financial services business.
Around the same time, Paytm Payments Bank’s former CEO, Shinjini Kumar, joined the bank’s board. According to the company’s filings with the Registrar of Companies, Kumar joined as a director of Paytm Payments Bank.


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MGNpro is designed to protect budgets and help achieve goals in 2022
MGNpro, MGN's full-service package, is specially designed to protect budgets and help achieve goals in 2022. The Fall marks the beginning of CapEx season, and it is the perfect time for companies to find the right ally to help their teams exceed next
SAN DIEGO – November 3, 2021 – (Newswire.com)
MGN Online is excited to announce new features coming in 2022. By mid-term 2022, MGN Online plans to roll out what will be called “Digital Plus”. When asked, MGN Founder and CEO Gill Davis said, “With the demand on the Digital News Market, MGN has been devoting their new development to capture the growing market of multi-tier digital News outlets. Some of the features we are working on are allowing social media integration of our content with our News Affiliates and their digital platforms.”
In addition to MGN Online’s new social media features, next year MGN Online will be concentrating on its website. MGN Affiliates can expect to see improvements in navigation and functionality on www.mgnonline.com. Website improvements will be focused on MGN’s search engine and content-building tools for customizing graphics and more, allowing MGN Affiliates to become even more efficient by acknowledging the importance of one’s workflow and, most importantly, time sensitivity. Primary Development goals are to create a more seamless and intuitive way of integrating graphical content within news reporting. MGN will invite its Affiliates to participate in the development process by becoming a part of the Dev Team. This Affiliate Dev Team inclusivity has become one of MGN’s hallmarks to success and to remain America’s number one choice for news graphic content.
About MGN Online
MGN Online was founded in April of 1982 in Southern California with the mission to create and provide news graphics and other news-related image content to News broadcasting industry professionals. With over 39 years of experience in the industry, MGN Online has grown to obtain a lengthy well-diversified number of Affiliates across television, newspaper, web, mobile and a variety of multimedia platforms. Notable networks such as ABC, NBC, CBS, FOX, Telemundo and Univision all make use of MGN Online’s news graphic services daily.
Sarah Paul – email@example.com // 760 633 4784
Ed Clemente – firstname.lastname@example.org // 760 697 1332
Branded Content / Marketing
Fabio Pajares – email@example.com // 760 697 9708
Press Release Service
MGN Online to Release 'Digital Plus' in 2022


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With so many great cannabis brands releasing exciting new products in new markets, it can be hard to keep track of every release or event. So we’re rounding up a few significant happenings in the industry. This week, we look at releases by Field Extracts and more.
Field Extracts: Limited rosin drop with Valley Grove
Based in Los Angeles, Field Extracts has teamed up with Valley Grove to offer a limited drop of its cold-cured rosin. California consumers can now find it in Sour Diesel x Wilson, LA Kush Cake, and Grapes N Cream strains.
Vibes Papers: New apparel
Cannabis accessories brand Vibes Papers has just launched its spring apparel line, offering hoodies, t-shirts, and more.
The People’s Cannabis: New flower line
The People’s Ecosystem, an organization dedicated to cannabis reform, inclusion, and community, has launched Smoke This under its The People’s Cannabis arm. All products from the line are grown exclusively by women and the BIPOC community and feature hashish, pre-rolls, flower, and moon rocks infused with diamonds and hashish.
Available: California — Bay Area
Session Goods: New colors for cannabis accessories


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Digital identity reform interrupted, need for digital identity solutions did not disappear
Parliament will not have time to discuss legislative proposals facilitating the reform of digital identity before the end of the session. The reform would improve the management of personal data, make electronic identification available to everyone and streamline immigration processes. The Digital and Population Data Services Agency is prepared to continue its development work during the next government term.
Digital identity services developed by the Digital and Population Data Services Agency will not be introduced in September this year. A code display and a mobile application that would have enabled the use of a digital proof of identity and a digital ID for foreigners remain unpublished. Neither will the reform of personal identity codes proceed, except for the new intermediate characters.
The Digital and Population Data Services Agency has been developing digital identity solutions as part of the project run by the Ministry of Finance.
Digital identity promotes an equal society
The reform would make the digital proof of identity available to everyone on their phone and allow more equality in access to social digital services. Strong electronic identification is not yet available to everyone, even though more and more services are digital. A digital proof of identity would also improve the management of one's own data, as only the necessary information would be shared in the identification situation.
“The reform is still necessary, and we believe that Finland's next government will also see this matter as important. We will be able to continue the development work and publish the services quickly if so decided,” says Deputy Director General Pekka Rehn from the Digital and Population Data Services Agency.
According to a study commissioned by the Digital and Population Data Services Agency, representing the Finnish population, almost 30 per cent of Finns aged 16–74 intended to use the digital proof of identity. 50 per cent planned to possibly use the service. Many organisations had also actively participated in the development work and were prepared to verify the digital proof of identity.
Reform of personal identity codes partially implemented
The reform of the personal identity code and digital ID for foreigners would have streamlined the processes of labour immigration. In the reform, gender data would also have been removed from the personal identity code, and the use of unique identifiers would have been made possible. The unique identifiers would not have replaced the personal identity code.
The introduction of new intermediate characters related to the reform of personal identity codes ensures the adequacy of personal identity codes in the future. A decision on the reform of intermediate characters was made last year. The Digital and Population Data Services Agency will continue to issue personal identity codes in their current form for as long as they are available. According to the current estimate, personal identity codes with intermediate characters will be issued for the first time in April 2024.
Preparations for European Digital Identity Wallet continue
The preparation for the European digital identity wallet will continue in Finland and throughout Europe. The Digital and Population Data Services Agency has developed digital identity solutions in a manner that will allow them to be expanded for cross-border use in the EU area, as soon required by the EU Member States.
“We still need to prepare for the demands of the European digital identity wallet. The digital identity reform will continue in this respect. The development of an application intended for Finland has also made it possible to actively influence the preparation of the European identity wallet,” says Pekka Rehn.
The survey on the introduction of a digital identity card was conducted by the media agency dentsu Finland, commissioned by the Digital and Population Data Services Agency. The data was collected in the M3 Panel maintained by Bilendi Oy on 2–13 December 2022. The target group were Finnish citizens aged 16–74. A total of 2,500 respondents responded to the survey. When weighted, it is a nationally representative sample by gender, age and residential area.
Pekka Rehn, Deputy Director General, The Finnish Digital Agency, [email protected]


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THE Australian Agricultural Co has registered another big loss for its half-year ended September 30, after a decline in the value of its cattle herd and increased operating costs linked to drought in parts of its northern property network.
Australia’s largest beef producer this morning announced a net loss after tax of $68.4 million for its half-year, compared to a loss of $37.7 million over the same period last year.
Meat sales declined for the six months, but a boost in cattle sales saw first-half livestock revenue rise to $219.2m from $197.2m in the corresponding period in 2017.
AA Co also booked a first-half operating profit boost from $6.8m to $24.8m, saying this financial metric “eliminated distractions caused by unrealised livestock and inventory valuation adjustments.”
The company’s statutory earnings (before interest, tax, depreciation and amortisation) loss increased from $36.5m to $82.9m over the same period, blamed on an overall decline in market value of livestock, including a decline in the lower value composite cattle numbers.
AA Co managing director Hugh Killen said the positive underlying result, despite the current seasonal and market headwinds, validated the company’s strategy and highlighted the benefits of initiatives that had been implemented during the period.
“Our financial performance over the past six months has been impacted by a range of factors including weather and macro trends, yet we continue to deliver against our strategy,” Mr Killen said.
The increase in global beef supply, which was likely to extend into 2019, had led to competitive pressure on pricing, however AA Co’s Wagyu revenue for the half was up, driven by increased sales volumes, he said.
The statutory EBITDA loss was a result of an overall decline in market value of livestock, including a decline in the lower value composite cattle numbers, however the company had seen a 16pc increase in its highest value Wagyu herd numbers.
The Westholme and Wylarah Wagyu brands had maintained their pricing on the prior corresponding period, despite macro headwinds, the company said.
“We are transforming AA Co into a simpler, more efficient and sustainable organisation, and, in the process, are establishing ourselves as one of the world’s leading producers of premium branded beef,” Mr Killen said.
“During the half, we continued to invest in our core assets: our land, our herd, and our people. We continued to refine our supply chain and pursue greater operational efficiencies in order to optimise our production base.
“We have also invested in marketing our brands and developing our distribution network. This has enabled us to continue successfully executing on our strategy to supply the growing demands of high-end markets, both overseas and in Australia, by producing highest premium branded beef at scale,” Mr Killen said.
The ‘decisive actions’ taken earlier in the year by the board and management (closure of the Livingstone Beef plant near Darwin and discontinuation of the 1824 grainfed beef program) had supported a stronger business, he said.
As forecast in this article yesterday, the decision to suspend operations at Livingstone and suspend the 1824 brand resulted in an increase in operating profits for the period, as sales of non-Wagyu cattle were brought forward and external purchases of cattle for processing were wound-back.
However, this was offset by higher station operating expenses due to deteriorating seasonal conditions during the period, resulting in increased feed, supplement and freight costs.
The challenging conditions that had impacted operating costs during the period looked set to continue into the near term, Mr Killen said.
During the half-year, AA Co had continued to implement a range of strategic initiatives as outlined at the company’s full year result in May 2018, including launching the Westholme Wagyu brand in Dubai, opening new opportunities to supply the region’s high-end markets.
“Following our successful launch in Dubai in October, we will continue our expansion into new and larger markets, and I look forward to updating the market on our progress in due course,” Mr Killen said.
Mr Killen said his management team was focused on implementing a range of initiatives that supported four key strategic pillars: Branding and Marketing, Integrated Supply Chain, Innovation and Technology and Performance Culture.
“We’re committed to building value for our shareholders by refining our sales and marketing approach, integrating our supply chain, investing in innovation and fostering a high-performance culture,” he said.
In its last full year ended March 31, AA Co posted a loss of $102.6 million.
- Early this afternoon, AA Co’s shares were trading at $123.5c, down from a 12-month high of $1.44 in July.
AACO’s Producer to Processor strategy was doomed before it started. It takes a quantum leap to be a success in processing and the skill set,experience and one’s own capital was not there at the star nor there now. A very expensive shed left in the middle of a paddock.


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Club Penguin: The Fair Cheats and Tutorials for 2012 - New Anchors Aweigh Homepage Design!
Hi there penguins!
Did you notice that Club Penguin had released the music video for the Penguin Band's latest hit song, Anchors Aweigh, yet? If not, Club Penguin has found another way to help advertise the video. Club Penguin has updated their homepage broadcasting the new music video. Check it out!
What do you think of the brand new homepage design? Have you watched the new music video for Anchors Aweigh yet? I have, I even bought it on iTunes! Be sure to leave your comments and opinions about the brand new homepage design below.