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About four years ago, an app by the name of “Yik Yak” was made by creators Tyler Droll and Brooks Buffington, and the basic purpose of it was to function as an anonymous message posting app, not too dissimilar from Twitter, except the fun of the app was that you could basically add any sort of text post that you want, and no one could know who wrote it. The app quickly became popular on college campuses and high schools in 2014, but quickly lost its popularity in 2016 after it became a site rampant with harassment and bullying, making it the enemy of school administrators everywhere.
Now, Yik Yak is back, and it just so happens to be under new management, so there’s a good chance that the app will soon be undergoing a comeback.
The new owners of Yik Yak have yet to be formally introduced, but they seem to want to foster a whole new environment for the app than what Droll and Buffington had created; the new owners want Yik Yak to be a place where strangers can be kind to each other and be respectful of each others’ views, but also a place where people don’t have to be afraid of being who they are, and they can post the things that they can post without the fear of judgement.
The app is available to download on the iPhone. However, the app isn’t easily searchable on the Apple App Store, but the link is pretty easy to find (like right here) and it is free to download. The app is currently only available for iOS and Apple products, and it is not available for Android, although this is liable to change in the future. Yik Yak is also a location-based app, which means that you need to allow the app to know your location.
The way the app works is like this: people can post whatever they want to the app anonymously, and users have the choice to either upvote whatever posts that they like and downvote whatever posts they don’t like. Upvoting a post can actually make a post more popular, while too many downvotes to a post can actually remove the post from everyone’s feeds. Users also have the option to comment on any sort of post that they like, and, of course, you’re free to post anything that you like so that you can gain your own upvotes.
Everyone wants to be able to have some sort of anonymity on the Internet, and the growth of technology has somewhat made this harder and harder over the years. Judging by how popular the app was in the 2010s, there’s really no telling how people are going to receive the app in today’s times. The only hope is that the app doesn’t go down the same path that it did in the past because that’s the future that the new owners want to avoid. Only time will tell how people will like the app, but we can hope for the best.


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B2B payments are an instrumental component of global trade and of setting the stage for currencies to operate as global instruments of cross-border trade.
China’s renminbi (RMB) is one global currency that is pushing its international standing, but new data from SWIFT released earlier this month found 2017 was a mixed year for the currency. RMB usage made up 1.61 percent of domestic and cross-border payments in December 2017, SWIFT found, with the company’s Head of Payments Markets, Asia-Pacific, Michael Moon noting, “Experts suggest that capital controls and uncertainties over future regulations mean that a significant reversal of the decline in RMB usage for trade and payments is unlikely in 2018.”
But China is also pressing for payments innovation, SWIFT noted, as industry players like Alibaba promote digital payments and more China-based financial institutions (FIs) join SWIFT’s global payment innovation (gpi) initiative.
In a chat with PYMNTS, Moon emphasized the role of cross-border B2B payments in the ability of the RMB to remain a strong contender in global payments.
“There is a direct correlation between usage of RMB for trade and cross-border payment and RMB internationalization,” he said. “This is particularly true as improving the payment experience, in terms of velocity of settlement, transparency and traceability, is a positive impact on commerce by [making it easier to do] business in places like China.”
It could be key to the broader Chinese economy too.
Research released by Atradius last October predicted the nation’s economic growth to slow. Of the entire Asia-Pacific (APAC) region, Chinese companies are the least likely to sell to B2B corporate customers on credit terms, and the nation also has the region’s highest percentage of late B2B payments, with 96 percent of survey respondents reported having been paid late by foreign B2B customers.
According to Atradius, the most common cause of late payments on foreign invoices is due to “inefficiencies of the banking system,” cited by nearly 42 percent of respondents, followed by the complexity of payment procedures, cited by nearly 36 percent.
SWIFT’s Moon said, however, that China is taking steps to address these challenges, which is, in turn, impacting the nation’s B2B payments landscape and the RMB’s position on the global market.
“In China, we see banks providing tracking and payment outcomes to corporate treasurers [and] making use of advances in mobile technologies and API-oriented services,” he said. “Corporate treasurers benefit from this as it gives them transparency on how much money they have, how much is coming in and the certainty of when this money will arrive. This allows corporates to trade with more confidence around the world, which, in turn, can only be good for global business.”
That may be true in theory, but today, China is struggling a bit to achieve these goals.
Separate analysis from Atradius published last September concluded that China is shifting its economic strategic away from global trade toward consumption. Though this change is slow and gradual, researchers calculated significant impacts on import growth.
“The Chinese government is aiming for a slow, gradual adjustment of its economy,” Atradius concluded, “but it remains a balancing act.”
Despite this strategy, China remains focused on boosting the global standing of the RMB. It won’t be easy, however. Earlier data from SWIFT released last year found the RMB slipped from fifth place to sixth in a ranking of global currencies.
“In order to become a more international currency,” explained Moon, “the RMB needs pervasive connectivity across banks, market infrastructures and corporates at a global level, as well as an improvement of efficiencies of RMB products and services in line with global standards.”
Last month, China’s central bank took another step to improving the nation’s cross-border payments capabilities. Three unnamed sources told Reuters that Chinese officials are opening up its large-value payment system to operate 21 hours a day, with the ability to process payments overnight.
In addition to national policy, Moon added that FinTech and payments innovation will undoubtedly play a role in helping the financial services community achieve these improvements.
“Today China’s payments landscape is a very dynamic one,” he said. “Making payments in RMB more digitized and [making] RMB cross-border payments faster, trackable and transparent in terms of fees will definitely support RMB internationalization.”
“Blockchain also has the potential to play a part in this,” the executive added, pointing to SWIFT’s efforts in its gpi initiative to collaborate with banks and deploy blockchain technology to enhance real-time payments reconciliation.
“Under the current correspondent banking model, banks need to monitor the funds in their overseas accounts via debit and credit updates and end-of-day statements, which represents a significant portion of the cost of cross-border payments,” Moon said, adding that SWIFT will release analysis of the proof of concept it is developing under the gpi initiative “in the coming weeks.”
According to SWIFT, there are now 22 China-based banks participating in gpi, signaling the nation’s support for payments innovation and an interest in addressing friction in global B2B payments — which, in turn, is likely to support the RMB’s standing as a global currency.
But gpi, which launched for live payments in January 2017, can now facilitate payments across 60 country corridors, so China is far from the only market embracing payments progress and fighting for internationalization.

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The FIFA world cup started yesterday and has kept people all over the world glued to their television for live action. Though this time, this football love is not just limited to the television set.
Though, this football love is not limited to the world of television only. It has affected the Internet largely and has reported a day with the highest bandwidth usage on the Akamai network. This is the largest usage since the inauguration of Barrack Obama which was viewed by a large number of people online.
The Akamai network reports an 11 million visitor requests per minute and a total increase of around 230% in traffic. Akamai is the world’s largest CDN and this data comes straight from the millions of users it serves. Other notable CDNs include the Google CDN which has served a considerable amount of videos as well.
This increase in viewers has been triggered by two events. First is the improvement of Internet bandwidths and connections and second is the availability of HD live streaming videos. The availability of HD videos has attracted a huge number of viewers who otherwise preferred the good old television earlier. With this success rate, there is an array of events to watch out for in near future.
In the meanwhile, you can all the info to watch the world cup online at this post.


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AvtoKrAZ will present its products at the exhibition in France.
Ukrainian producer of trucks will present their products at the annual exhibition “Eurosatory” in Paris.
The exhibition will be held from 13 to 17 June in the exhibition complex “Paris Nord Villepine”.
The Kremenchug automobile manufacturers on a par with other global brands present a range of motor vehicles for military purposes. For the Ukrainians will be selected from several exhibition stands.
In particular, visitors of the exhibition “Eurosatory 2016 will be able to see with such Ukrainian developments as “Hurricane”, “Fiona”, “Shrek”, “Cougar” and “Spartan”.
In addition, the production of the Kremenchug automobile plant will take part in the exhibition “Ukroboronprom”.


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Connect with top gaming leaders in Los Angeles at GamesBeat Summit 2023 this May 22-23. Register here.
Google’s Android operating system is kicking ass and taking names in the mobile software market, and Apple’s iPhone is on the rise in the hardware category, according to newly released data from comScore.
One in ten mobile subscribers are iPhone owners (10.8 percent), according to comScore which surveyed 30,000 U.S. mobile subscribers. The iPhone nabbed more than a percent share of the phone manufacturers market form July to October, but still trails Samsung (25.5 percent), LG (20.6 percent) and Motorola (23.6 percent) when it comes to mobile handsets.
Google has no skin in the hardware game, but no matter. Android once again ranked number one in the smartphone platform market share category, and now commands almost half — 46.3 percent to be exact — of the entire market. Apple’s iOS is a distant second with 28.1 percent share, up 1 percent from July. RIM, meanwhile, continues to slide backward; it dropped from 21.7 to 17.2 percent share between July and October. And Windows Phone, which fell from 5.7 to 5.4 percent of the OS market, is not exactly a hit just yet.
Also, according to comScore, a larger percentage of mobile subscribers are texting (71.8 percent), using the browser (44 percent), downloading apps (43.6 percent) and accessing social networking sites (32.3 percent) on their devices.
[Image via svet/Flickr]
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.


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Full profile →'">
The author is a Forbes contributor. The opinions expressed are those of the writer.
on Thursday is set to release findings from a three-month investigation into what mistakes GM made over the past decade that delayed the recall of millions of unsafe cars, and led to at least 13 deaths.
The report, by former United States attorney Anton R. Valukas, is expected to detail who within G.M. was aware of recurring problems with the ignition switches on the Saturn Ion, Chevrolet Cobalt and other small cars, and why employees did not connect the dots with information from GM's legal department, where lawsuits were mounting. It will also explain how a GM engineer was able to approve a redesign of the switch without a corresponding change in the part number -- a cardinal sin in engineering that made it harder for GM to detect the root cause of the problem and likely delayed the safety recall by years.
Valukas' findings might also expose some ugly truths about GM's desperate struggle to survive in the early and mid-2000s, when pressure to save money may have skewed decision-making. Documents show GM had considered recalling the affected cars years ago, but decided against it because it was too expensive.
For GM CEO Mary Barra, the release of the Valukas report is a moment of truth in her brief tenure. She said she did not know about the issue, even when she was executive vice president of global product development. She learned about the planned recall just two weeks after she became CEO. There has been no evidence to date that she had prior knowledge of the problem, and GM officials increasingly believe that Barra will be cleared of wrongdoing after the Valukas report is made public, according to the New York Times.
Still, it will be up to Barra to accept responsibility for GM's failings, and then to convince customers, regulators and Congressional leaders that GM has changed. In meetings with accident victims and during testimony on Capitol Hill, she has sought to portray “the new General Motors,” a company that has spent much of the past five years trying to restore its reputation after its $50 billion taxpayer-financed bankruptcy.
As I wrote in the cover story in FORBES' latest issue, the crisis is an early, unexpected test of Barra’s leadership and has raised questions about whether the 33-year company veteran–or anyone–can really change the culture in an organization as vast as General Motors, which has run through five CEOs in the last six years.
Already, Barra has reached an agreement with federal regulators to pay a record $35 million fine for failing to issue timely recalls, and she has made internal changes, including the appointment of a new vice president of global safety, to try to catch problems earlier. She has vowed to turn GM into a safety leader, and told me in an interview she plans to use the crisis to accelerate culture change within GM.
The release of the Valukas report is an important milestone, but surely won't be the end of the controversy. Compensation expert Kenneth Feinberg, who oversaw claims for victims of 9/11 and Hurricane Katrina, told reporters this week he is still weeks away from presenting GM with options for how to make restitution to families of crash victims.
Meanwhile, GM is still facing an investigation by the U.S. Justice Department and could face a fine similar to the $1.2 billion settlement Toyota paid recently for its history of tardy recalls. The company also faces five separate investigations and scores of lawsuits from customers who claim their cars lost value after the recalls were announced. The bankruptcy judge will decide if those claims have any merit, since GM shed most of its legal liabilities in bankruptcy court.
And through all of it, Barra will need to force change at the company and steer it to long-standing profitability and growth. “I think from the product perspective we’re there, but we still have work to do” to restore the company’s reputation, Barra told me. “Rebuilding takes time.”
GM continues to perform well in the U.S. and China, its two largest markets, with strong demand for its newest products. Barra's plan is to use profits from those markets to restructure and make the investments necessary to grow profitably in other parts of the world.


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- Patty Mills shares his San Antonio favorites with new Nets teammates
- San Antonio pencils Bad Bunny concert date
- Patty Mills says he texted Coach Pop at 4 a.m. about leaving Spurs
- Man defrauded Texas food bank, said Cowboys stars would appear
- Snakes, poison ivy and wildlife: Hiking San Antonio's Medina River Natural Trail
- 'Man, you're crazy': San Antonio man bikes down dried up Splashtown slides
- H-E-B addresses photo of empty shelves circulating on social media


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New features support latest tech in iPhone 6S and iPad Pro.
Social network accused of leaving app running in background.
Third version of invite–only smartphone on its way.
New handset is first to use Samsung’s OS since January.
US college challenging Apple is the mouse that roared.
Supermarket’s network, backed by Vodafone, closing in January.
Finding in favour of University of Wisconsin could lead to hefty damages.
No matter the cost, Apple will do anything to win big in China.
TSMC–made chip marginally outlasts Samsung’s effort.
Developers and public beta users get new version of Apple’s iOS.


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Ever try to use your mobile phone to talk someone through changing a tire, fixing a complicated piece of industrial machinery, or defusing a bomb — and just wish you could just draw them a picture, or point to the relevant wire you're trying to get them to yank?
A Cambridge start-up called Zthere
has a nifty solution to that vexing situation. The company has developed software that uses a smartphone's built-in camera and its ability to record and transmit spoken instructions to enable what you might call "annotated collaboration." Just snap a photo of that ticking time bomb, and a far-off expert can draw on the photo, drop virtual push pins on key spots, and talk you through the steps you need to take.
Zthere's founders are serial entrepreneurs Matthias Wagner and Dan Ostrower. Ostrower writes via e-mail, "The idea was born out of frustrations that Matthias and I have had during years of hardware development and entrepreneurship. For example, flying people to Asian manufacturers to solve problems we felt there should be a way to solve remotely. ...We started asking ourselves, 'How could you show a tech in a factory how to use a thermal camera without sending him to training and without having someone next to him showing him what to do?'"
Ostrower says they like to describe the concept as similar to WebEx or LogMeIn (services that let you hold online meetings or access a remote computer) — but for the real world. Development of the product started last fall, and Ostrower showed me an iPhone demo last week that looked pretty smooth. You can choose to record and store a "session" to be viewed later — an annotated photo with audio that talks the viewer through replacing an air conditioner filter, for example. Or, if you have access to a 3G or WiFi network, you can collaborate in real-time, pointing and dropping push-pins on one another's screens and asking questions.
Zthere plans to release a free iPhone app later this year; an alpha test is happening now. Next will be an Android app and a Web-based version of the software.
As for the revenue model, the current plan is to offer a subscription-based service to business customers. "We are targeting segments and applications where Zthere can have significant payback — equipment service, remote manufacturing management, construction management, public safety, military, etc.," Ostrower writes. His hope is that it'll be a new way for people in big companies to share their expertise, no matter where they're based.
Ostrower tells me he and Wagner have been self-funding the company thus far (and relying on hired contractors for development), with the goal of raising outside capital at the right time. Their previous start-up, RedShift Systems
, a developer of inexpensive thermal imaging cameras, has raised $18 million so far (RedShift is still working on getting a product to market). Ostrower was also an early team member at SMaL Camera Technologies, which was acquired
by Cypress Semiconductor in 2005. (Cypress flipped it to years later to Attleboro-based Sensata Technologies, which went public earlier this month.)
Here's the YouTube video demo:
If you're interested in participating in Zthere's beta test, Ostrower says their bias is toward teams of business users who need to collaborate.


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Who’s the richest person in the world? Musk or Bezos. Here’s everything about Bernard Arnault-the man who overtook Bezos to become the world’s richest person for one day.
Jeff Bezos, the Amazon CEO is back as the world’s richest person. But, he wasn’t for a day. Bernard Arnault, the CEO of LVMH, a French luxury conglomerate overtook him.
The French tycoon claimed the title with a net worth of $186.3 billion before the end of Monday, according to Forbes. Running close was Bezos with a net worth was USD 186 billion. Following close was Elon Musk, the CEO of Tesla and SpaceX with USD 147.3 billion.
How did Bernard Arnault become the richest person?
Things changed on Tuesday as his net worth jumped by USD 313 million to USD 189.2 billion, thereby taking Arnault to the top spot. Musk with a net worth of USD 155.1 billion was in third place.
According to reports and Forbes Real-Time Billionaires List, the LVMH chairman’s net worth bumped up to over $186 billion from $76 billion in March in a single day! This massive rise over the last year is due to LVMH’s pandemic defying production and sales.
Forbes Real Time Billionaires list tracks the daily fluctuations in the networks of the world’s richest. This platform provides real-time wealth tracking along with updates on each billionaire. They are updated every five minutes when the stock markets are open.
All about LVMH
LVMH or Louis Vuitton Moët Hennessy is a french fashion group that owns several luxury fashion labels. Fendi, Givenchy, Louis Vuitton, and Christian Dior come under its umbrella. Their stocks rose by 0.4 percent during the first few hours on Monday and pushed Arnault’s stakes by more than $600 million.
This isn’t a one-day miracle. During the first quarter, LVMH’s growth surged fueled by sales across several Asian countries.


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WarnerMedia, Discovery announce merger
By Matt Collins Article may include affiliate links
News of the deal surfaced Sunday, May 16, 2021 and was officially announced Monday, May 17, 2021.
The $43 billion deal, which isn’t expected to close until mid-2022, means AT&T will mostly abandon the strategy of combining telecom with content driven business.
AT&T acquired what became WarnerMedia in 2018.
Now, AT&T appears to be returning to its roots by spinning off WarnerMedia and merging it with Discovery. The move will allow AT&T to focus on its broadband and wireless businesses, which have required heavy investments to upgrade to 5G and acquire key portions of the wireless spectrum.
In February 2021, AT&T announced it would spinoff its DirecTV, AT&T TV and U-verse video brands to a private equity group, another sign that it’s exiting the content business.
Discovery, meanwhile, acquired Scripps Networks Interactive in 2017, a deal that included HGTV and Food Network, which were combined with its existing networks OWN, Discovery Channel and other prominent cable and digital brands.
In January 2021, Discovery launched Discovery+, a streaming platform that culls content from across all of its properties with original programming mixed in.
WarnerMedia, meanwhile, has its own streamer, HBO Max, launched in August 2020, that features film, TV and original content from some of the biggest names in entertainment, including Warner Bros. and its namesake premium network.
Although no specific plans have been announced, it appears the new company will aiming to leverage the power of the services to take on rivals Netflix and Disney+. It’s not clear if that could include merging the two services or bundling them.
While Netflix remains its own entity and invests billions in original content and licensing other TV shows and movies, Disney+ is able to draw on its own film and TV library as well as those it acquired when it bought most of 21st Century Fox’s assets.
Earlier in 2021, broadband and wireless rival Verizon announced it would sell AOL and Yahoo!, two businesses it had acquired in a similar strategy of attempting to own both content and the distribution channels it flows over.


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Beijing, July 9 (IANS): China on Monday said it has clinched a deal with India on the reduction of import duties on Indian medicines, including anti-cancer drugs, which are highly expensive in the country.
Beijing, which earlier announced a cut on import duties on over 8,500 Indian items, said it will relax taxes on more goods from India and other countries as its trade war with the US heats up.
As discussed between Indian Prime Minister Narendra Modi and Chinese President Xi Jinping at the Wuhan summit in April, China has granted more access to Indian pharmaceutical companies.
"We believe the expansion of imports and slashing of tariffs on anti-cancer medicines will usher in great opportunities for India and other countries in the region," Chinese Foreign Ministry spokesperson Hua Chunying said.
She referred to a recent popular Chinese movie about a leukemia patient, who imports and sells less expensive generic anticancer drugs from India for chronic myeloid leukemia (CML) patients in China.
"There is a popular movie 'Dying to Survive' about zero tariff imposition on anti-cancer medicines in China," Hua added.
She was responding to a question about India's decision to cut levies on 3,142 items from the member countries of Asia Pacific Trade Agreement. China is a signatory to the accord.
"According to the outcome of the Asia Pacific Trade Agreement, we agreed to slash tariffs by 33 per cent... So the slashing of tariffs by the Indian side is also part of this negotiation," Hua said.
She added that China will also impose a negotiated agreed tariff rate on relevant items in accordance with its regulations.
"We have decided to expand our imports as well as opening up. This is what China needs in order to uphold the free trade and work against protectionism. It is also in keeping up with our own pace of development and opening up," Hua said while referring to the ongoing trade war between China and the US.
The two countries slapped tariffs on each other's products to the tune of $70 billion last week.


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Lots to see and do: Welsh Government supporting Love Trails, Gower, Long Course Weekend, Pembrokeshire and Snowdonia Trail Marathon
The Welsh Government, through Event Wales, is supporting a summer of exciting cultural and sporting events across the nation, set against iconic Welsh landscapes.
The Welsh Government is investing £8.5 million in building significant new industrial space in Blaenau Gwent aimed at attracting leading businesses to the area, Economy Minister Vaughan Gething has announced.
During a busy time in the golfing season, Asbri Golf is celebrating further business success with made-in-Wales golfing products being sold to new markets globally, thanks to export support from the Welsh Government.
Employee Ownership Day: Economy Minister sets out plans to double the number of employee-owned businesses in Wales
The Welsh Government wants to double the number of businesses in Wales that are owned by their employees, and is committed to providing greater support for worker buyouts to ensure Wales-based companies remain in Welsh hands, Economy Minister Vaughan Gething said today to mark Employee Ownership Day.
Wales – the real ‘Dragon’s Den’: Welsh Government to support 1,200 young people to start their own business
- Economy Minister commits £5 million to foster new culture of entrepreneurialism among young people in Wales.
- Plan part of Welsh Government mission to make Wales a place where more young people feel confident in planning their future.
An innovative research and development project to improve the productivity and environmental performance of businesses in the aerospace and food and drink sectors is taking place at the Advanced Manufacturing Research Centre (AMRC) Cymru in Broughton.
A delegation of representatives from the Japanese Wind Power Association have been visiting North Wales this week to see some of the exciting developments under way in the region
- New vision sets out how the Welsh Government, the retail sector and trade unions will work together to develop a successful, innovative, sustainable and resilient sector.
- Retail is Wales’ biggest private sector employer - providing jobs to more than 114,000 people across the country.
- Vision sets out ambitions to ensure retail remains at the heart of Welsh communities by offering people fair work and real career opportunities.
- Includes measures to help the sector overcome workforce recruitment and retention challenges caused by the Covid pandemic and the UK’s exit from the EU, alongside the impact on operating costs and consumer habits caused by the cost-of-living crisis.
- New £13.25m a year scheme to provide tailored support to help people into work across Wales
- ReAct+ will also provide employers with wage and training support for newly-employed staff
- The programme is part of wider Welsh Government plans to help more people into and stay in work
A new flagship Welsh Government programme, which will provide personalised support to people who are not currently in education, training or employment to find and stay in work has been launched today by Economy Minister Vaughan Gething.
Economy Minister Vaughan Gething has seen for himself how Welsh Government funding is helping local entrepreneurs develop new, high-quality accommodation in Swansea and Mumbles.
A Welsh firm which created the world’s first electronic breathalyser has secured a major export deal to supply hundreds of breath testing instruments to the Finnish Government, thanks to export support from the Welsh Government.


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While the crop’s ingenuity has become clear, it now needs customers
For decades, the International Crops Research Institute for Semi-Arid Tropics (ICRISAT) has been working with farmers in Africa and India to develop crops that can stand drought and, climate-change to improve incomes. Now the Institute is all set to launch a campaign to connect with consumers and find a market for these produce.
The Smart Foods campaign will promote consumption of millets in India, Africa and Western countries. It addresses the biggest concerns of farmers who have been wary of cultivating traditional crops like finger millet (ragi ), sorghum ( jowar ) and pearl millet ( bajra) for the fear of not finding a market.
The institute will involve food processing firms, local groups and multinational companies in the campaign. The idea is to create products that are attractive and palatable. As Joanna Kane-Potaka of ICRISAT, who’s played a key role in designing the initiative, says, “The young would like to pick a packet of chips or flakes rather than have ragiporridge.” But as she points out, “Millets have high nutritional value and are resilient under extreme weather conditions.”
Some varieties of pearl millets can survive at temperatures of up to 64 degrees Celsius. The crop can be harvested within 60 days, as against 100-140 days for wheat. As against 2,100 mm water in a growing period for sugarcane and 1,250 mm for rice, millets require less than 500 mm water. Finger and pearl millets can be grown with 350 mm, while sorghum requires 400 mm water. Typically, the two major crops grown in arid, poor rainfall areas are groundnut and maize that require 450 mm and 500 mm water respectively.
However, as Kane-Potaka warns, global warming could render about 40 per cent of the land where they grow maize in sub-Saharan Africa not suitable for that crop by 2030. The situation could be same in India. “Millets survive better than maize in drought conditions,” she adds.
Meanwhile, the Hyderabad based Indian Institute of Millets Research (IIMR) – a body funded by Indian Council for Agricultural Research – has also made progress in breaking the ice with the consumers. It has come up with a brand called Eatrite that has ready-to-eat millet products in the form of flour and cookies, among others.
“The challenge is to make the market-ready products. Since we are doing research on newer varieties to take care of issues like drought, yields and diseases, we have also decided to make millets attractive for consumption,” says B Dayakar Rao, Principal Scientist and Principal Investigator (Millets Value Chain) at the ICAR institute. The institute has also developed machinery and standard procedures to develop the ready-to-cook products. With the new marketing mantra, millets are travelling faster from farm to fork.
(This article was published in the Business Line print edition dated June 7, 2016)


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In the light of the Prime Minister’s statement of February 22, Dawood Pervez, Managing Director of Bestway Wholesale, commented on the situation facing the convenience sector.
“There are a number of key factors to take into account, not least the timing of how lockdown restrictions will be eased,” he said. “The next three to six months will be very important to independent retailers and we would look to reassure our customers that we are here to support them every step of the way:
“Firstly, whilst regulations are easing around lockdown, it is clearly going to be a gradual easement with some unknowns along the way. It is not looking likely that pubs will open before Easter, and when they do – it means that people will likely be sitting, or gathering outside, in order to remain distanced, which means by its very nature there will be limitations. Yes, people may be meeting in parks and outside which will help restore some life to our city and town centres which means more footfall, and more opportunity for retailers.
“With schools opening on March 8th, this will also mean increased ‘feet on the street’ in respect of impulse purchases (which have taken a big hit during the pandemic and throughout lockdown), with increased consumption of food to go, including fruit, snacks, soft drinks and confectionery. That has to be good for the independent retailer serving their local communities.
“The early indicators are that people will be steadily returning to the workplace – not everyone will continue to work from home. All the above reasons mean that for convenience retailers, there’s a lot to play for over the next three months. Don’t let’s forget we are then into the Euros (football) where there is likely to be increased levels of home viewing which means an increase in ‘take home packs’ and we anticipate that consumers will want to collect premium beers, wine and ciders from their local stores. For many consumers, there will inevitably be an abundance of caution in how they re-engage socially and professionally meaning their community stores will remain a real lifeline.”
Pervez concluded that the outlook for the sector remains good:
“We know from research undertaken by both the ACS Retailer Road Map and TWC’s Future of Convenience that around 47 per cent of consumers are saying that they intend to continue to use their local convenience store post lockdown and remain loyal,” he said, continuing.
Last week’s completed acquisition of Costcutter (CSG) takes Bestway Wholesale’s estate to more than 3,795 stores in the UK, (including 2,682 fascia and 195 company owned).


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No shortage of salt in country, citizens advised to refrain from ‘panic buying’
Rumors about salt shortage led to panic buying in many parts of the country on Friday, following which the government clarified that there are no shortage of the commodity and urged people not to indulge in panic buying.
“We monitor the prices of 22 essential commodities on daily basis. As per the prices reported by centres from across the country, there has been no increase in price of salt whatsoever,” the department of consumer affairs said in a statement.
The government’s clarification came after reports of panic buying of salt in several parts of country amid rumours of shortage.
The department of consumer affairs clarified that there is enough salt to meet any unexpected shortage, if any.
“The total production of salt in India, on an average, is about 220 lakh tonnes. Of this, only around 60 lakh tonnes is used for domestic consumption. The remaining quantity is for industrial use and exports. Thus, there is sufficient manoeuvrability to meet any unexpected localised shortage, if any,” the department said.
No shortage of salt, prices are the same. State Govts need to take action on those who spread rumours: Food minister Ram Vilas Paswan pic.twitter.com/v35TX3mctW
— ANI (@ANI_news) November 11, 2016
The rumors caused thousands to line up outside shops and go on a salt buying spree, fearing that the scarcity could last for ‘few days’.
While instances of panic buying have been reported in Delhi, Mumbai and Kolkata, it is believed that the rumors originated from Uttar Pradesh.
Considering the importance of salt in our daily lives, the news spread like wildfire to other states.
Although there is no saying how the rumors started, people flocked to grocery shops and retail outlets in large numbers to buy salt in large quantities. As the panic spread, several quintals of salt vanished from shop shelves.
Moradabad (Uttar Pradesh): Salt shortage rumours trigger panic among buyers, some stores selling salt at Rs200/Kg pic.twitter.com/jjjqPXww1W
— ANI UP (@ANINewsUP) November 11, 2016
In some areas salt was said to be selling, if available, anywhere between Rs 100-Rs 300 per kg.
Meanwhile, Uttar Pradesh Chief Minister Akhilesh Yadav has directed all districts magistrates in the state to take strict measures to check panic buying of salt and act against those who are spreading rumors.
He also clarified that there is no shortage of salt in the state and instructed all district supply officers to ensure no hoarding takes place. Police officials have also been directed to increase patrolling in the affected areas as it could potentially result in a law and order situation.
A special team has been formed to trace the message that went viral within minutes of appearing on social media sites, triggering panic.
As for Delhi, Special Commissioner Law & Order, North at Delhi Police SBK Singh also quashed the rumours.
“Just rumours. Area being patrolled extensively by Station House Officers (SHOs) to dispel rumours and inform the crowd. No shortage of salt or ration,” Singh said.
— Delhi Police (@DelhiPolice) November 11, 2016
The Police Control Room also received calls about shortage in Maujpur and Jaffrabad, among other areas, following which officials were dispatched to bring situation under control.
In Mumbai too, anxious customers flocked stores in South Mumbai, Sewri, Andheri and Dadar were to purchase salt before the stock ran out.
Mumbai police has also issued a statement urging citizens to ignore rumors about salt shortage.
Please do not believe in any rumours. There is no shortage of #salt or any other necessary commodity nor any price hike information.
— Mumbai Police (@MumbaiPolice) November 11, 2016
Amitabh Gupta, Controller of Legal Metrology, also reiterated that no packed commodity can be sold above MRP and action will be taken against vendors who do.
In case of essential commodities like salt, shortage rumors can drastically increase the demand among consumers who might resort to hoarding, which eventually creates an artificial scarcity and causes the prices to rise exponentially.


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Real fur and animal skins were once a need for warmth but over time have been replaced by cheap synthetic materials. Over the past 30 years, the fashion industry has been criticized by PETA activists for using real fur, so designers have sought out other, less controversial ways to continue incorporate animals into their collection.
While animal prints like leopard and zebra have been recycled on the runway for years, it's the increase of more realistic images of animals that should be focused on. Last February, many collections showed a number of these things. Jill Stuart features silkscreen printed dresses of owls and foxes; Givenchy shows an array of panther T-shirts for women and Rottweiler-adorned button-downs for men.
Though animal imagery has been an enormous focus of women's wear, designers have taken a cue for their fall 2012 menswear collections. The New York Times reported that the runways in Milan were suggestive of a zoo.


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Documents leaked by former NSA contactor Edward Snowden suggest that spy agencies have a powerful ally in Angry Birds and a host of other apps installed on smartphones across the globe.
“Angry Birds” and “Star Wars” are on a gaming collision course that is sure to please the fans on both sides.
Adele dominated music this year, and on Cupertino-based Apple iTunes was no exception. The British songstress had iTunes’ best-selling album…
Haven’t squared away your costume for Halloween this year? With the big dress-up day just around the corner, KCBS’ Anna Duckworth discovered that the most popular costume is…
Roku is ready to hatch the popular “Angry Birds” video game on a new version of its set-top box for streaming online entertainment to TVs
A new report claims that for the first time, people are spending more time using mobile apps than browsing the web.
A Menlo Park hotel and spa is sweetening its annual Easter Sunday celebration with the characters of the Angry Birds video game.
People around the world were expected to flock to celebrations Saturday in honor of the one year anniversary of Angry Birds, Apple’s top selling app in 2010.


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Stocks rose, though were off earlier highs, Thursday after the European Central Bank raised its growth forecasts and maintained its loose monetary policy.
The S&P 500 was up 0.04%, the Dow Jones Industrial Average rose 0.1%, and the Nasdaq increased 0.03%.
The ECB now sees full-year consumer prices rising by 1.7%, up from a target of 1.3% set in December. Forecasts for full-year GDP growth were also increased to 1.8% from 1.7%.
The central bank opted to leave interest rates unchanged at its meeting on Thursday. The main refinancing rate was held at 0%, while its marginal lending facility rate remained at 0.25%. The ECB said that it anticipates rates to hold "at present or lower levels for an extended period of time" and to remain low "well past the horizon" of its current bond-buying program. The central bank previously said it would reduce its monthly bond purchases to 60 billion euros in April from the current level of 80 billion, though reiterated on Thursday that it would increase its current program if needed.
ECB President Mario Draghi maintained a dovish stance in a press conference following the announcement. Draghi said the central bank was monitoring an increase in inflation and that sentiment readings indicated a recovery in the region had begun to pick up speed.
European markets were mixed on Thursday. The CAC 40 in France inched 0.06% higher, the DAX in Germany rose 0.14%, and the FTSE 100 in London decreased 0.4%.
Crude oil extended a recent selloff to fall below $50 a barrel for the first time since December. Commodities have been under pressure since a weekly report from the Energy Information Administration on Wednesday showed a much larger build in domestic stockpiles than anticipated. U.S. supplies have risen for the past nine weeks in a row and are now at record highs of 528.4 million barrels.
West Texas Intermediate crude was down 1.9% to $49.33 a barrel on Thursday but was off earlier lows. A day earlier, crude clocked its sharpest decline in 13 months, falling more than 5%. Energy stocks were the worst performers on markets Thursday.
Marathon Oil (MRO) - Get Report was one of the few oil and gas companies in the green, climbing 4% after agreeing to unload its Canadian business to Royal Dutch Shell (RDS.A) and Canadian Natural Resources (CNQ) - Get Report . Marathon said the $2.5 billion deal will simplify its portfolio and lead to lower costs.
U.S. jobless claims rose in the past week, though remained at multi-year lows. The number of new claims for unemployment benefits rose by 20,000 to 243,000. The less-volatile, four-week average increased by 2,250 to 236,500.
Import and export prices rose in February, according to the Bureau of Labor Statistics. Import prices increased 0.2%, while exports rose 0.3%. Import prices increased by 4.6% over the past 12 months, the fastest rise in roughly five years.
Wall Street celebrates its eighth anniversary in a bull market on Thursday, its second-longest since World War II. On March 9, 2009, less than two months into the Obama presidency, the blue-chip Dow dropped to 6,547, a level not seen since April 1997. The S&P 500 followed suit, plummeting below 700 to a 13-year low. Since then, the Dow has more than tripled in value, and the S&P 500 has gained nearly 250%.
"The Dow Industrials are up nearly three-fold from the lows of the financial crisis in 2009, bolstered by Fed-driven liquidity, multiple expansion and, most recently, accelerating earnings growth," U.S. Bank Wealth Management's Terry Sandven told TheStreet. "Low interest rates, benign inflation and higher earnings have resulted in higher stock prices."
Investors were also looking ahead to Friday's release of the U.S. jobs report for February. The nonfarm payrolls report should be enough for the Fed to determine whether to make a move higher at their meeting next week. Fed members have turned hawkish in recent months, calling the March meeting a "live" one and telegraphing more than one rate hike this year. The Federal Open Market Committee, the group that decides when interest rates will move, next meets from March 14 to 15. The chances of a 25-basis-point hike next week sits at 88%, according to CME Group fed funds futures. A rate hike would put the new fed funds rate at 0.75% to 1%.
Staples (SPLS) dropped 3% after reporting a disappointing fourth quarter. The stationery retailer reported a net loss of 94 cents a share after seeing profit of 20 cents a year earlier. Adjusted earnings of 25 cents a share missed consensus by a penny. Revenue of $4.6 billion fell short of an estimated $5 billion.
Signet Jewelers (SIG) - Get Report added 5% despite reporting weaker-than-expected quarterly sales. The owner of Kay Jewelers reported fourth-quarter adjusted earnings of $4.03 a share, 3 cents higher than expected. Same-store sales slid 4.5%, a sharper drop than a targeted 4.2% decline. CEO Mark Light said the company is "adapting to a challenging retail environment and weak mall traffic." Signet anticipates full-year same-store sales to decline in the low-to-mid single digits, falling short of an expected increase of 1.9%.
Akzo Nobel (AKZOY) , the Dutch maker of paints and chemicals, rejected an unsolicited $22.1 billion takeover bid from PPG Industries (PPG) - Get Report . Akzo Nobel said Thursday it would look at selling or floating one of its key business units in order to boost investor returns. Akzo Nobel said PPG offered to buy it for around €83 a share ($87.66) in cash and stock, a 29% premium to Akzo Nobel's closing price on Wednesday. Akzo Nobel rejected the PPG bid, but said it would look at strategic alternatives, including the sale of its specialty chemicals business, which had €4.8 billion in sales last year.
AIG (AIG) - Get Report rose 2% after CEO Peter Hancock announced his resignation amid activist investor pressure. Hancock has agreed to remain at the company until a successor is found. The executive assumed the role in September 2014. In a statement, Hancock said, "Without wholehearted shareholder support for my continued leadership, a protracted period of uncertainty could undermine the progress we have made and damage the interests of our policyholders, employees, regulators, debtholders, and shareholders."
Sears (SHLD) jumped 6% after closing its deal to sell its Craftsman brand to Stanley Black & Decker (SWK) - Get Report . Stanley expects the Craftsman brand to increase its fiscal earnings by 8 cents a share.
Tailored Brands (TLRD) - Get Report crumbled 30% on Thursday after reporting a wider-than-expected loss and declining sales over its fourth quarter. Comparable-store sales declined by 5.2% for its K&G brand and 2.2% for its Jos. A Bank locations. CEO Doug Ewert said the retailer suffered from "soft traffic across our retail brands" over the quarter.
Wall Street Goes to Washington: In the first of a series of conversations with the President's economic advisors, acclaimed author and columnist Michael Wolff will sit down with Anthony Scaramucci, co-founder of private equity firm Skybridge Capital, to discuss the Trump administration, his thoughts on policies and regulations under debate and his outlook for the next four years. Join us for this cocktail party on Monday, March 27 at The Metropolitan Club in New York. The event is free, but seating is limited and reservations are required. For more information or to RSVP, email firstname.lastname@example.org.


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Prince Charles and Lady Diana Spencer wed in a globally broadcasted wedding 40 years ago.
On July 29, 1981, the chosen guests of their special day were treated to an extravagant slice from a five-tier wedding fruit cake, which was made by Dave Avery, head baker with the Royal Navy.
Along with their wedding cake, there were 22 others baked and sent out – including one that was made for Clarence House staff to enjoy.
One leftover slice of cake is going under the hammer in the UK and is expected to sell for £500 ($950).
The piece of cake, weighing in at 800g was given to Moyra Smith, a member of the Queen Mother’s household at Clarence House.
She used glad wrap to preserve the topping.
Mrs Smith kept the piece of history wrapped and stored in a floral cake tin.
She topped it with a handwritten label reminding anyone to “handle with care”.
The label was signed by Mrs Smith and dated 27 July, 1981.
Her family sold the piece of cake to a collector in 2008 but it has now found its way back onto the auction block, on their 40th wedding anniversary.
The cake features white icing, and a 3D sugared image of the royal coat-of-arms coloured in gold, red, blue, and silver.
It also has a small silver horseshoe and leaf spray.
“It appears to be in exactly the same good condition, but we advise against eating it,” Chris Albury from Dominic Winter Auctioneers informed the BBC.
Mr Albury expects the listing to get between £300 and £500 ($570-$950)
It also includes an order of service, ceremonial details and a royal wedding breakfast programme.
The auction will take place on August 11.
This article first appeared on Over60.


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Epic is reportedly developing a new, opt-in review system for its online PC store.
Following accusations from users that a lack of user reviews and/or ratings "silences" consumers, a tweet by Epic CEO Tim Sweeney confirms that the developer is looking to implement a system based upon the Unreal Engine marketplace. Interestingly, it’ll be opt-in in a bid to manage what Sweeney calls "gaming-the-system" techniques that some gamers use, such as review bombing. But if developers don’t want reviews, they can simply choose not to opt-in.
"We’re working on a review system for the Epic Games store based on the existing one in the Unreal Engine marketplace," wrote Sweeney back in December (thanks, GI.biz). "It will be opt-in by developers. We think this is best because review bombing and other gaming-the-system is a real problem."
The new Epic Games Store is arguably the biggest industry news of 2018 as the Fortnite and Unreal Engine developer takes on Steam in what could prove to be the biggest shake-up of the PC games market since Valve’s platform launched back in 2003. Ubisoft is the latest company to move away from Steam and announce a partnership with Epic to bring its titles to the new Epic Games Store. Tom Clancy’s The Division 2, which launches on March 15th, will be the first Ubisoft title to release on the Epic Games Store, with pre-orders already available on the platform.
"While running Fortnite we learned a lot about the cost of running a digital store on PC. The math is quite simple: we pay around 2.5 per cent to 3.5 per cent for payment processing for major payment methods, less than 1.5 per cent for CDN costs (assuming all games are updated as often as Fortnite), and between 1 and 2 per cent for variable operating and customer support costs," Sweeney told MCV at the time the store launched.
"Fixed costs of developing and supporting the platform become negligible at a large scale. In our analysis, stores charging 30 per cent are marking up their costs by 300 to 400 per cent," he revealed. "But with developers receiving 88 per cent of revenue and Epic receiving 12 per cent, this store will still be a profitable business for us."


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Australian hemp start-up Hemp Oz has expanded its presence in the health beverage industry, launching the first hemp kombucha to the market.
A subsidiary of Oz Medicann Group, Hemp Oz is based in Sydney and provides organic natural products, including food, beverages and oils, all made in Australia with Australian ingredients.
Hemp Oz founder and CEO John Leith told Food & Drink Business the Hemp Oz Kombucha follows traditional, hand-crafted production methods with the addition of hemp, which is rich in fatty acids and nutrients, and provides a number of health benefits.
“When laws changed in 2017 to allow hemp seeds to be sold as food in Australia, we were proud to produce Australia’s first hemp kombucha, to give consumers a deliciously refreshing beverage with maximum health benefits,” said Leith. Leith says it helps him manage his Type 2 diabetes.
“Along with the inclusion of the superfood ingredient hemp, our superior packaging is a massive differentiator for our brand as other Kombucha claim to have live cultures but do not require refrigeration, which compromises the benefits of the ingredients.”
Eight market players
According to Leith, there are around eight major competitors in the hemp-based food and beverage industry. Products include hemp seeds, oil, protein power, milk and kombucha.
The legalisation of hemp as a food source makes it important for Hemp Oz to create a brand deeply committed to the hemp and medicinal cannabis industry, Leith says.
The next major challenge is to educate consumers hemp is healthy for you and not a drug, he says.
“We need to invest considerably with the message hemp is ‘all health, no high’.
"Social media platforms still block any advertising with the word hemp so promoting our brand and products is a challenge. The banks were also very concerned with hemp (confusing it with the illegal drug), and processing online sales was a hurdle we needed to overcome too.
"Thankfully, the confusion and stigma are receding as more people learn the truth that hemp as one of the world’s most nutritionally-perfect superfoods.”
The company is partnering with universities and the food and beverage industry to research the future of hemp in Australia.
Five cents from every Hemp Oz Kombucha sale is donated to advocacy for patient access to medicinal cannabis.
Hemp Oz products are available through 250 retail stockists, food and beverage outlets and restaurants across the country.


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A new product that promises to help people stop their glass from smudging and keep their eyes clear has just gone on sale.
The Glass Lifestyle is a wearable device designed to remove the smudging from glass by filling it with an “optical filter”.
The filter allows you to see the particles, or smudge, in the glass without the need for a microscope.
The technology has been developed by a startup called Dishwashing Liquid Glass.
Its creators hope it will help people reduce their exposure to potentially harmful particles in their glasses, which can cause eye and respiratory problems.
“People are very sensitive to light,” co-founder and CEO David Vella told Mashable.
“We thought, ‘What if we could help people to stay in their own space?'”
The device is a flexible tube with a small camera attached that is attached to your glasses, and you can place it in front of you and wear it over your glasses.
The camera is mounted on a transparent plastic cover that lets you view the filter, which has an infrared sensor attached.
“It works as a sensor, and when you put it in your eye, it’s very sensitive,” Vella said.
“You can look through it and see tiny particles.
So when you look at something like a glass of water, you don’t need to go into a room and go through the process of seeing that water.”
Dish washing liquid glass filter, left, and lens that can be used to filter out the particles.(Image credit: Dish washing Liquid Glass)The glasses filter is made of glass and can be applied to any surface, like a surface of a glass bottle, for the same reason that a magnifying glass can be placed on a glass surface.
You can purchase a filter for $79.99 on Dishwiling Liquid Glass’ website, which offers a 30-day money back guarantee.
You need to buy the glass filter as part of the Glass Lifestyles subscription.
If you decide to cancel your subscription and return it, you can do so within a week, Vella explained.
The glasses can also be purchased at retail stores, but the company is also partnering with retailers to provide the glasses at their store.
In an interview with Mashable, Velli explained that he is inspired by how much people love to watch TV, so he decided to create a device that would allow people to watch television without glasses.
“The thing that we thought about when we created Glass Livers is how many people do we want to reach?
How many people would like to be able to get their hands on Glass Lives and wear them?” he said.
Vella hopes that his product will be a tool that can help people with allergies and other conditions, and that it will be an alternative to prescription glasses for people with eye and nose problems.
If you or anyone you know needs help with a health issue, call the National Suicide Prevention Lifeline at 800-273-TALK (8255) or visit the National Alliance on Mental Illness at www.mentalillness.org.


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Severtson Screens will feature the Ambient Light Rejection (ALR) options for their Impression Series residential and commercial projection screens during CEDIA Expo 2023, held in Denver from Sept. 7-9 at the Colorado Convention Center.
“Our customers asked for it, and we have delivered with the industry’s most advanced ALR screen,” said Toby Severtson, president and CEO of Severtson Corp. “Our new screen is both affordable and has an industry leading viewing angle versus other ALRs currently on the market today.”
Severton’s ALR has a 170-degree viewing angle and is available up to 120 inches (diagonal at 16:9 Aspect Ratio), with additional options also now available.
“With 0.8 gain, our ALR is designed specifically for situations with high ambient light,” Severtson continued. “We are proud to serve the home theater and commercial markets with the same service and quality that has taken the cinema market by storm and cemented us as the industry leader. Our new ALR screens are a continuation of this dedication to provide what our customers want, with a product that exceeds their, and the industry’s, expectations.”
Custom and standard ALR sizes are available. Severtson asks that customers contact them directly for individual pricing for their specific needs and for production and delivery timing.
Also, in response to recent shipping and logistical issues, six-piece frames will be Severtson’s new standard moving forward. This will help to reduce shipping damages and provide a better experience for its customers. The company says that the screens will be of the “same high-quality standard that the industry has come to expect” from a Severtson screen.
The change will occur gradually over the coming months as supply of four-piece frames is depleted. Four-piece frames will still be available on custom orders, with a lead time.
Finally, in recent years, the standard aspect ratios have shifted gradually wider. Movies are now almost exclusively produced at 2.39 or 2.40 aspect ratios. As a result, Severtson will be retiring the 2.35:1 aspect ratio as our standard, and migrating to 2.39:1.
Severtson’s 2.35 screens will be shipped until their supply is exhausted. Their 2.35 will still be available on custom orders, with a lead time. The prices and standard diagonal sizes will remain the same, only changing the aspect ratio. The new 2.39 drawings are currently available on our website.


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LOUISVILLE, Ky. (AP) — The price of Jack Daniel’s Tennessee Whiskey will increase in the European Union because of the impact of the bloc’s new 25 percent tariff.
The EU is taxing a range of U.S. imports, including whiskey, in response to President Donald Trump’s decision to slap tariffs on European steel and aluminum.
Phil Lynch, a spokesman for Jack Daniel’s producer Brown-Forman Corp., said Monday that the price increase for the whiskey will take effect over the next couple months as stockpiled cases of it are sold off.
Lynch said European consumers are expected to see price increases of about 10 percent, but the hikes may vary in some markets because local distributors and stores are involved in setting prices.
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About one-fourth of Brown-Forman’s revenues are generated in Europe.
Mexico also recently imposed 25 percent tariffs. But Lynch says Brown-Forman recently increased the price of Jack Daniel’s in Mexico so isn’t planning a fresh price hike there soon.
Shares in Brown-Forman, which is based in Louisville, Kentucky, closed Monday down $1.51, or 3 percent, at $48.30.


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Sales of DAB radios have surpassed the five million mark in the UK. That's according to the Digital Radio Development Bureau (DRDB).
The DRDB said five million digital radio sales equates to around ten million listeners tuning in to DAB (digital audio broadcasting) around the UK. It also confirmed that 19.5 per cent of the adult population are now living in a "DAB household".
The DRDB said independent research has shown that while consumers were buying products to receive broadcast TV (i.e. Freeview boxes, Sky etc), "they are actually using the DAB digital radio more". In fact, studies show that 38 per cent of users are listening to DAB radio daily.
"Radio has evolved," says DRDB CEO Ian Dickens. "I have seen DAB digital radio grow from around 135,000 units sold to over five million."
Dickens adds that DAB radio has also grown "from 19 products in 2002 to over 300 today; from an entry level price of £99 to £29 today; from 600 independent retailers to over 8,500 outlets including the key mass merchandisers in 2007."
From a listening base of practically zero, says Dickens, DAB is now firmly established. DAB broadcasts are currently available to one in five of the UK's adult population.
For more information about digital radio in the UK, including coverage and ways to listen, have a look at the BBC's Digital Radio index .


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Much as COVID-19 impacts the most vulnerable, in a cruel twist of fate drastic measures to contain the pandemic will have serious consequences for the UK’s already beleaguered retail sector. Here we examine the fallout and consider what accelerated change could mean for the future of our town centres.
EARLY COSTS OF COVID-19
According to the Office for National Statistics (ONS), the enforced closure of non-essential retail on 23rd March 2020 prompted the sharpest month-on-month fall in retail sales values on record, down 5.7% from February and 6.0% year-on-year. With only the last week of March being in lockdown, April’s figures will appear catastrophic.
A number of retailers were tipped into administration as the crisis only started to take hold. This includes household names such as Debenhams, Oasis Warehouse and Laura Ashley, while Cath Kidston announced closure of all 60 of their UK stores. Well-known food and beverage (F&B) operators have also gone into administration during lockdown, including Carluccio’s and Chiquito.
Annual growth rates for value of sales in-store and online by sector, March 2020
Source: ONS – Retail Sales, Great Britain: March 2020
PERMANENT FLIGHT TO ONLINE?
While the supermarkets have funnelled the nation’s spend, out of necessity, spending has flowed to online retailers. According to ONS, online sales in March were up 12.5% year-on-year, including a substantial 51.8% growth in sales of household goods. The question is, will some of this increased online consumer behaviour stick after the crisis has passed? It is perhaps too early to tell, but it is reasonable to assume that the crisis will fast-forward projected levels of online spend that were several years away into the near present. Accordingly, this will impact sharply on the need for physical stores.
While there is talk of ‘revenge spend’ post-lockdown, particularly in F&B, there are concerns that anticipated increases in consumer demand post-lockdown will be dampened by weaker consumer sentiment and higher unemployment.
LIFELINE OR STAY OF EXECUTION?
The lockdown was accompanied by a massive package of government support designed to keep retailers in business and protect jobs. Key measures include a 12-month business rates holiday, cash grants for smaller businesses, allowance to delay rent payments for three months and, most significant of all, a wage subsidy of up to 80% of median salary for furloughed employees.
Yet, unprecedented as these measures are, for many retailers it will simply not be enough and more failures are expected after the pandemic passes. With a flood of retailers requesting rental concessions, only one third of quarterly rents due at the end of March 2020 were paid in full, with Q2 rental collection bound to be much, much worse.
The British Retail Consortium recently issued guidance on social distancing to the UK government for non-food retail stores. But, as talk of easing restrictions is gathering pace, it remains to be seen how the retail sector and consumers will react. Difficulties of trading amid social distancing measures and fears of poor trading levels mean many stores simply may never reopen their doors.
A BLEAK-LOOKING HIGH STREET 2021
The coronavirus will act as a death knell for many retailers, already pushed to the brink by ecommerce and now weak consumer confidence. The Centre for Retail Research estimates that over 20,620 stores may not reopen after lockdown, an increase of 28% on 2019 store closures, with an quarter of a million job losses. By year end, one in ten UK retail units are set to be vacant, equating to a UK-wide vacancy rate of 12%.
UK retail and leisure vacancy rate
Source: Springboard and LSH Research
FROM CRISIS TO OPPORTUNITY: FIVE TRENDS TO WATCH
While some well-known retailers will disappear as a result of the current crisis, the high street itself will not die. The UK retail sector may be profoundly changed, but the hastening of trends such as migration to town centres and demand for new retail experiences may ultimately breathe new life into high streets.
- Survival of the fittest retailers
Retailers that survive the crisis may find that their market positions are strengthened, as some of their competition disappears. Those in the best position to prosper may include strong high street names with a good mix of online and in-store operations; and discount fashion and household retailers with well-defined value propositions. Local independent and artisan retailers may also be able to prosper by tapping into consumer demand for new retail experiences.
- Retail to residential conversions accelerated
With new housing delivery high on the UK government’s agenda, and significant construction delays already caused by COVID-19, some landlords and developers may take the opportunity to ramp up plans to re-purpose struggling retail properties into residential units. The build-to-rent model will continue to thrive in town centres, as it is the preferred option for investors seeking long income streams.
- From goods to services
With town centre populations increasing due to retail-to-residential conversions, demand will grow for for a wider range of high street amenities to serve local communities. Shops will only be one part of the high street mix, and some retail space may need to make way for care and community uses. Services that are more usually located in the suburbs will have an increased high street presence, such as education, healthcare facilities, dentists, hairdressers and beauticians.
- New retail experiences
With the lockdown likely to provide a permanent boost to online retail activity, the onus will be on physical retailers to attract consumers back to the high street with unique experiences that cannot be replicated online or at home. This may encourage the growth of pop-up shops, independent eateries and experiential retailers. Town centres with unusual selling points will be best-placed to attract consumers; and the government and local authorities may need to rethink how funds such as Future High Street Fund and Towns Fund are allocated to de-clone high streets in the post-pandemic world.
- Growing need for local retail provision
With the COVID-19 lockdown potentially accelerating the trend towards working from home, commuter numbers could fall, leading to reduced footfall in major business districts. Conversely, local shops, cafés and restaurants convenient to homeworkers may experience increased demand. Smaller walkable local and neighbourhood centres serving local communities may ultimately benefit from the changing geography of retail demand. We could be on the brink of an exciting new era for the “butcher, baker and the candlestick maker”, as more discerning consumers choose service and individuality, ahead of clone shops and towns. But for these local shops and centres to flourish reform will be needed of our archaic business rate, rent and leasehold models that threaten to “strangle” the life out of many of our new and innovative businesses.
The onus will therefore be on local planning authorities to take a more pragmatic and sympathetic approach to new development in the post-lockdown world. For example, the use of Permitted Development Rights (PDR) will be important to expedite changes of use where correctly applied. No two town centres are the same, so the planning system must be able to respond flexibly to the strengths and challenges of individual locations, to enable them to flourish in the future.
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For Samsung, the phone market has been feast or famine.
The launch of the Galaxy S3 in 2012 crowned Samsung the world's smartphone king and helped fuel five consecutive quarters of record profits. But the company's phone fortunes faded as subsequent flagship handsets failed to excite consumers, leading to seven straight quarters of declining profits.
Now it appears that Samsung's latest top-of-the-line phone has righted the ship.
The South Korean electronics giant on Wednesday reported a first-quarter profit of 6.68 trillion won ($5.8 billion), an increase of 12 percent over the year-ago period. The results beat the 5.53 trillion won average of analysts' estimates compiled by Bloomberg.
The company's mobile division, formerly its cash cow, sprang back to life with an operating profit of 3.89 trillion won, an increase of nearly 42 percent over the same quarter last year and its highest since the second quarter of 2014. Samsung credited much of that growth to sales of the Galaxy S7 and S7 Edge, which were released in March to get a jump on the competition. It also said it expects strong sales to continue next quarter.
Samsung does not release shipment numbers but likely shipped 9.5 million Galaxy S7 devices during the quarter, according to Jay Yoo, an industry analyst at Korea Investment & Securities, handily surpassing his original 7 million estimate. Perhaps more remarkably, the better-than-expected sales came even though the phone had landed in the market for just the last month of the quarter, which ended March 31.
The rebound comes as overall interest in smartphones has waned. Research firm IDC said earlier Wednesday that the company remained the market's top dog in the first quarter, despite shipping fewer smartphones, thanks to the launch of the Galaxy S7. For the first quarter of 2016, Samsung shipped 81.9 million phones, down slightly from 82.4 million in the same quarter last year.
Even Apple is struggling with phone fatigue. On Tuesday, the Cupertino, California, company reported its first ever drop in iPhone sales, with fiscal second-quarter unit shipments down 16 percent to 51.2 million.
Indeed, the entire market is suffering from saturation, putting pressure on vendors around the globe. IDC said the market experienced its slowest growth yet, increasing just 0.2 percent.
Meanwhile, Samsung's chip division, which has buoyed profits in recent quarters, reported a profit of 2.63 trillion won, a decline of 10 percent from the year-ago quarter, on lower demand for memory chips due to the global decline in PC shipments.
Overall, the company had 49.78 trillion won in sales during the quarter, an increase of 5.6 percent year over year.


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Google’s parent Alphabet had its shares fall by about 7 percent in Tuesday’s extended company after the company issued a weaker-than-expected earnings report for the third quarter.
The company reported earnings of $1.06 per share, less than analysts’ estimate of $1.25, according to Refinitiv. Revenue for the third quarter came in at $69.09 billion, falling below the Refinitiv estimate of $70.58 billion. Analysts had expected YouTube advertising revenue to come in at $7.42 billion, according to StreetAccount but Alphabet reported $7.07 billion for third-quarter YouTube advertising revenue. Google Cloud revenue surpassed analysts’ estimate of $6.69 billion with the $6.9 billion it generated in the third quarter. Traffic acquisition costs (TAC) stood at $11.83 for the quarter, below the estimate of $12.38, according to StreetAccount.
Revenue growth declined to 6 percent from the 41 percent reported in the same period a year ago. YouTube ad revenue declined about 2 percent to $7.07 billion from $7.21 billion reported a year ago. Analysts had expected a 3 percent increase. Overall advertising revenue for the quarter was $54.48 billion and was slightly up from what was reported in the year-ago period.
The company’s chief business officer for Google, Philipp Schindler, said that the company saw a decline in spending on search ads from segments such as loans, insurance, mortgage, and cryptocurrencies.
The company’s top executive noted the challenges being faced by the company. In a statement, CEO Sundar Pichai said that the company is “sharpening our focus on a clear set of product and business priorities.” Chief Financial Officer Ruth Porat said that “we’re working to realign resources to fuel our highest growth priorities.”
In the third quarter, Google Cloud generated revenue of $6.9 billion, surpassing analysts’ expectations. It is also a notable increase from the $5 billion generated in the year-ago quarter. Losses in Google Cloud, however, increased to $699 million from the $644 million loss reported in the year-ago period.
The company’s CEO cited economic challenges, a potential recession, inflation, increasing interest rates, declining ad spending, etc., and said that the company has had to embark on cost-cutting measures.
Apart from the job slashes which the CEO had already announced, Google also canceled the next generation of its Pixelbook laptop and cut funding to its Area 120 in-house incubator. Last month, the company also announced that it will be shutting down Stadia, its digital gaming service.
Alphabet said its full-time employees count now stands at 186,779, up from 150,028 last year. CEO Sundar Pichai during the earnings call on Tuesday said that additions to headcount will be significantly lower than the previous quarter.
“Our actions to slow the pace of hiring will become more apparent in 2023,” he said. “Headcount additions will slow to less than half the number added in Q3,” CFO Ruth Porat added.


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News by Topic
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Ad blindness remains challenge for marketers
A new study from Adweek Media and Harris Poll has found that despite an increase in innovation and creatively in online advertising, many consumers are still blind to banner ads.
Despite display advertising being the second-largest marketing channel online (IAB), consumers are still disregarding them. The joint study found as many as 43% ignore online display ads.
Online search engine ads were the second-most ignored ads of all channels with 20% ignoring them.
In fact, out of all the ad channels - online, television, radio and press - Internet ads were the most likely to be ignored.
The survey of 2,098 U.S. adults also suggests very little difference in behavior between genders. Forty-two percent of men and 45% of women said they ignore Internet banner ads the most.
Fewer ignore television ads (15% vs.13%), radio ads (7% vs. 8%), and newspaper ads (6% vs. 5%).
However, age does throw up some significant differences, as one might expect considering the differing viewing habits and types of media consumed among different age groups.
The study suggested older respondents ignore ads on television the most. About 20% of those 55 years and older said they ignore ads on television, compared to 14% of those 45-54 years and 13% of those age 35-44 years. Just 9% of younger respondents, 18 to 34 years old, ignored television ads.
But, as TechCrunch's Robin Wauters points out, the results could be skewed as media consumption was not taken into account.
"Put simply, it's easier to say you don't ignore TV ads when you hardly ever actually watch television anymore," he wrote.
Only 9% of respondents said they didn't ignore ads of any type.
Many online users are installing ad blocking software to ensure they aren't subjected to banner advertising, pop-ups and other formats. Recent figures put the number of downloads of the popular Adblock Plus program at around 100 million since its launch in 2006, however the effects of this on the ad industry are unclear.
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Featured White Papers
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Your employees are your greatest asset. It makes perfect sense that companies would double down on their own talent, empowering...


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Nintendo’s DS Lite systems have been a true eye-catcher, and it’s showed with over ninety-six million sales around the world as of last year. While one hundred million shipped and ninety-six million sold are very impressive numbers, they still have to pass up the PlayStation 2’s one hundred two million and the GameBoy Color’s one hundred eighteen million.
At the rate the DS is going, the day of hand-held supremacy will soon arrive, especially with the DSi, although the $169 US price tag may be a bit of an obstacle for some. With the DSi arriving in Europe April third and in North America April fifth, just a few weeks away, it will sure be exciting to see how Nintendo will treat the third addition to the DS family.
For those of you who are getting a DSi, do you expect something big from Nintendo this next in the next few years?


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Speaking to ITV Central earlier this year, Paul spoke of how excited he is about the club.
More top news
Cloudy and breezy tonight with rain. Drier tomorrow.
Turning cloudy and becoming windier later. Patchy rain overnight.
James Bond's favourite car brand, the Aston Martin, has launched its latest model at its Warwickshire factory - the DB11.


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PepsiCo’s Tropicana brand now is offering its flagship premium orange juice product in a family-sized pitcher. The 89-ounce clear-handled package made of lightweight PET plastic is completely recyclable, the company says. Tropicana says the bottle is easy to grip due to the sturdy handle, and easy to pour, thanks to the flip-top lid. The see-through design also offers an at-a-glance view of how much juice is left in the bottle.
Tropicana's pour and store
September 17, 2012


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Warner Bros. has shown great support for the Wii U so far, bringing Batman Arkham City, Scribblenauts Unlimited, and Game Party Champions to the new console. They’re also working on Injustice: Gods Among Us, a fighting game which includes popular DC Comics characters. The game will include famous characters such as Batman, Joker, Superman, Flash, Wonder Woman, and others. Injustice: Gods Among Us is developed by Mortal Kombat developers NetherRealms, and is expected to be released early next year. Warner Bros. has revealed the official Wii U box art of the game, which you can find below.
- Just Dance 2015 launch trailer for Wii U
- Nintendo UK store offers Captain Toad pre-order bonus
- Nintendo posts job listing for next-gen console engineer
- Link Amiibo figure will work with Hyrule Warriors
TAGS: fighting game, warner bros


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TOKYO -- Bandai Namco Holdings is helping its employees own company shares in a move to heighten their awareness of investor concerns and enhance corporate value.
Employees will be able to contribute monthly to a stock ownership plan. Those who put in at least 5,000 yen ($47) per month for three years starting fiscal 2018 will get an extra 50 shares from the toy and game company.
The parent and group companies in Japan have about 6,000 employees, and a third of them have signed up for the benefit. The company has bought back shares from the market for this initiative.
"We want our employees to have heightened awareness about management participation," said Director Yuji Asako. The management's goal is to have as many employees as possible hold at least 100 shares, the minimum amount for trading.
An employee's monthly contribution of 5,000 yen, together with the company's 10% match, would come to around 200,000 yen over three years. At a stock price of 4,000 yen, this would be enough to purchase 50 shares. The extra 50 shares from Bandai Namco brings the employee's total to 100.
For executives, Bandai Namco requires part of their compensation to be put into the stock ownership plan, and also gives them shares based on the company's performance.


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The initial public offering (IPO) of auto components maker Sandhar Technologies Ltd was off to a slow start on Monday, with the issue receiving only a handful of bids led by retail investors.
Sandhar’s public offering of 10.87 million shares, excluding the anchor allotment, received bids for 5.33 lakh shares, stock exchange data showed. The book was subscribed 4.9% at the end of day one.
Non-institutional investors, comprising wealthy individuals and corporate bodies, bid for a handful of shares from their quota.
The category for retail investors, who cannot individually bid for shares exceeding Rs 2 lakh in value, was subscribed 9.5%.
Sandhar had raised Rs 153.74 crore ($23.6 million) from anchor investors, including venture capital firm Volrado, last Friday.
Sandhar sold 4.6 million shares to 15 anchor investors at the upper end of the IPO price band of Rs 327-332 apiece, it said in a stock exchange filing.
Volrado Venture Partners Fund II bought 3,31,290 shares. Other anchor investors mostly included mutual funds.
Sandhar is seeking Rs 1,998 crore in valuation through the IPO. The company will issue fresh shares worth Rs 300 crore while private equity investor GTI Capital will sell its stake via the IPO. The public issue closes on Wednesday.
VCCircle had previously reported that GTI Capital is likely to score neat returns from its bet on the auto component maker.
Sandhar Technologies will join nearly 50 auto parts makers on the stock exchanges. These include Minda Industries Ltd, JBM Auto Ltd, Motherson Sumi Systems, Bharat Gears and GNA Axles Ltd.
ICICI Securities and Axis Capital are the merchant bankers managing the IPO.
Sandhar was incorporated in 1987 by first-generation entrepreneur Jayant Davar. He is the co-chairman and managing director of the company.
The company builds safety and security systems for vehicles. It has 29 factories across eight states in India, besides two facilities in Spain and one in Mexico. It has one assembly and packaging centre in Poland. The company is setting up eight more units in India.
Sandhar had commenced operations as a supplier of sheet metal components to Hero MotoCorp, formerly Hero Honda Motors Ltd. Its existing clients include Royal Enfield, Honda Cars, Tata Motors, Ashok Leyland, Caterpillar and Bosch.
It caters to 79 Indian and global vehicle manufacturers across various segments.Sandhar makes 21 categories of products catering to different industry segments, including two-wheelers, passenger vehicles, commercial vehicles, off-highway vehicles and tractors.
Subscriptions for the IPO of state-run aerospace and defence firm Hindustan Aeronautics Ltd approached the halfway mark on the second day on Monday led by sustained bidding from institutional investors.
The public issue, which has no anchor allotment portion, received bids for 15.39 million shares against 34.10 million shares on offer. The book was subscribed 45.15%, stock exchange data showed.
Institutional buyers bid for 12.89 million shares, or nearly 78% the portion reserved for them. High net-worth individuals and corporate bodies bid for 1.4% of the shares from their quota, the data showed.
The portion set aside for retail investors, who cannot individually bid for shares exceeding Rs 2 lakh in value, was covered 20.11%.
The public issue was subscribed 24% on the first day on Friday.
HAL’s IPO closes on Tuesday. The firm is seeking a valuation of Rs 41,464 crore ($6.4 billion) through its Rs 4,229 crore maiden public offering.
The company is eyeing a valuation at the upper end of its per-share price band of Rs 1,215-1,240.
Retail investors will get a discount of Rs 25 on the price at which shares are allotted.
The promoter, the Union government, will sell 34.10 million shares representing 10.2% stake through the public issue.
At the time of filing for the IPO last October, the government had decided to sell 36.15 million shares. However, the company bought back 27.11 million shares, or 7.5% stake, from the government two months later.
After this buyback, the number of shares for which money has been paid reduced from 361.5 million to 334.38 million, and, as a result, the size of the present offer has shrunk from 36.15 million to 34.10 million shares.
The government, which owns 100% in the company, will get three years from the date of listing to bring its stake down to 75% or below to meet norms on minimum public holding.
A plan to list HAL was originally approved in 2012 but the firm did not want to make key information public as part of the listing process. In 2013, it sought an exemption from the market regulator regarding the disclosure rule but did not get one.
In October last year, HAL filed its draft prospectus. In the same month, it got regulatory clearance.
Merchant bankers SBI Capital Markets and Axis Capital will manage the IPO.
Other directly and indirectly listed firms in the defence space include Bharat Electronics Ltd, Reliance Naval (formerly Reliance Defence Engineering), Mahindra & Mahindra, Larsen & Toubro and Cyient.
HAL’s listed global peers include US firm The Boeing Co., European multinational corporation Airbus SE, Lockheed Martin, United Technologies and General Electric.
Proceeds from the HAL IPO could go towards meeting the fiscal deficit target for the current financial year, which has been revised from 3.2% to 3.5% of gross domestic product due to increases government spending .
Bengaluru-based HAL was incorporated in 1963. It designs, develops, manufactures, repairs, overhauls and services a wide range of products including aircraft, helicopters, aero-engines, avionics, accessories and aerospace structures.
The company reported consolidated net profit of Rs 2,624.7 crore for the financial year ended 31 March 2017. Its consolidated net profit stood at Rs 2,004.3 crore and Rs 994.1 crore for 2015-16 and 2014-15, respectively.
Its revenue (minus excise duty) has grown at a compound annual rate of 7.11% from 2014-15 to 2016-17.
As of 31 July 2017, the value of its order book stood at Rs 63,333 crore (nearly $10 billion).


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From left: D.O.T. Commissioner Joseph Boschulte, Asst. D.O.T. Commissioner Alani Henneman-Todman, andUSVI Italy representative Olga Mazzoni with travel partners in Milan over the weekend. By. THE V.I. DEPARTMENT OF TOURISM
“Italy is one of a select group of international markets in which the territory will strategically focus its marketing activities in the coming weeks and months," D.O.T. Commissioner Joseph Boschulte said. He added that the department has also identified Canada and Scandinavia as key markets for the USVI.
According to the release, while in Milan, the commissioner and members of his team had one-on-one meetings with leading Italian tour operators and media partners, including consumer and travel trade writers and influencers.
Industry stakeholders traveled from cities such as Bologna, Florence, Genoa, Rimini, Treviso, Turin, Venice and Varese to engage with Tourism representatives; learn about the territory’s experience, challenges and successes in managing the Covid-19 pandemic; and receive updates on the status of the Territory’s accommodations, including the burgeoning sharing economy, villa and marine sectors, D.O.T. made known. The commissioner reported that the Territory is committed to expanding its reach and relationship with Italian travelers.
“The stakeholders we met truly honored us with their presence, interest and confidence in the USVI. We are one of the first long-haul destinations to invest in coming to Italy to engage with these professionals and remind them that a warm welcome awaits pandemic-weary Italian visitors,” said Mr. Boschulte, who was impressed with the strength of the country's health safety protocols and the incredible progress Italy has made – especially with vaccination efforts – after a very difficult start to the pandemic.
The D.O.T. team also educated their Italian colleagues about the territory’s Travel Screening Portal, which has been a critical tool in helping to mitigate the impact of Covid-19 in the territory.
“As restrictions for Europeans seeking to travel to America begin to ease, the U.S. Virgin Islands wants to ensure that we remain a top-of-mind destination in key markets where we already have strong brand recognition. Our efforts in Milan and beyond are part of a comprehensive, concerted effort to attract more international visitors to our shores,” said the territory’s tourism leader, who added that the U.S. Virgin Islands' marketing messages also remind international travelers about the ease and comfort of traveling under the U.S. flag during the pandemic.
During World Routes 2021, an international conference that brings together decision makers from the global airline route development community, the USVI delegation held discussions with airline representatives to explore opportunities to grow international arrivals into the Territory.
“We experienced strong airlift performance this spring and summer, but we are not resting on our laurels. We must strengthen not only our domestic routes but must also seek opportunities for international carriers to bring guests to the U.S. Virgin Islands, especially the big island of St. Croix,” said Mr. Boschulte.
At the conclusion of their business in Italy, Mr. Boschulte and his team will travel to Denmark to meet with travel industry stakeholders and members of the U.S. diplomatic community in Copenhagen.


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HANOI, March 29 (Xinhua) -- Vietnam reported a trade surplus of 4.07 billion U.S. dollars in the first quarter of this year, government data released on Wednesday showed.
Exports in the January-March period fell 11.9 percent from a year earlier to 79.17 billion dollars, while imports declined 14.7 percent to 75.1 billion dollars, the General Statistics Office (GSO) said in a statement.
Vietnam's exports and imports lost momentum in the first three months as the country continued to face external headwinds from a slower global recovery and synchronized tightening of monetary policy around the world in response to inflation, which crippled demand from its key markets, the GSO said.
Reflecting faltering world demand, outbound shipments to the United States totaled 20.6 billion dollars in the first quarter, marking a 23.4-percent drop in Vietnam's trade surplus with its largest export market, according to official data.
Smartphones and garments, among the biggest export earners for the Southeast Asian country, posted a decline of 15 percent and 17.4 percent to 13 billion dollars and 7.2 billion dollars, respectively, said the GSO.
A decline in imports, due partly to sluggish domestic consumption, may also indicate a contraction in industrial output as factories cut their purchases of raw material and equipment for production.
Inbound shipments of equipment and components slumped 15.4 percent while imports of electronics and spare parts fell 12.4 percent in the first quarter.
This left a narrower trade surplus of 4.07 billion dollars in January-March, compared to a surplus of 4.4 billion dollars in the December quarter last year.
Vietnam's policymakers have taken measures to shore up economy with the central bank cutting some of its policy rates and lowering the cap on interest rates for short-term loans in priority sectors.
The government has said it will try to keep the growth at 6.5 percent this year, backed by public investment, foreign direct investment, export and domestic consumption.


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SETTING THE RECORD STRAIGHT (publ. 3/23/2012, page A2)
A story misidentified one of the owners of a San Jose shopping center called Village Oaks. The correct name is PCCP.
Target is expected to be the primary anchor for a new shopping center that will rise near the Kaiser hospital in South San Jose.
The new retail complex, dubbed Village Oaks, will total 320,000 square feet. Besides Target, a major supermarket is expected to be one of the anchors. A health club, restaurants, banking and other retail are expected to make up much of the remainder of the tenants.
After stalling during the recession, the center’s launch is being bolstered by a rebounding local economy. Principal developer Hunter Storm Properties has teamed up with realty finance and investment firm Pacific Coast Capital Partners.
“We have very strong interest in most retail categories for this site,” said Curtis Leigh, director of development with Hunter Storm. “We are looking at two or three anchors, and have interest from multiple retailers for each anchor site.”
The location of the retail complex, near Highway 85 and Cottle Road, is in a retail void for large shopping centers.
“This area is really underserved for retail,” said James Chung, a partner with Terranomics, a real estate firm that is scouting for tenants to occupy the project.
The developers and Terranomics wouldn’t identify the anchors that have agreed to move to the center, which will occupy a portion of the former IBM disk drive factory site.
However, marketing materials for the complex and a residential development that will be constructed nearby both identify Target as the primary anchor.
The nearest Target stores are at San Jose’s The Plant shopping center and on East Capitol Exopressway off Highway 101 to the north, Oakridge mall to the west and a shopping center in Morgan Hill near 101 and Cochrane Road.
The robust job market in the South Bay has helped coax considerable interest out of big retailers for this center and elsewhere in Silicon Valley.
Target, for example, recently opened a store in North San Jose near Highway 237 and North First Street. And Target will anchor a new shopping center in Santa Clara called Main Street Santa Clara, said David Taxin, a partner with Meacham/Oppenheimer, a commercial real estate firm.
Wal-Mart Stores is opening at least four Neighborhood Market grocery stores in the Bay Area, including at San Jose’s Westgate Mall, along with markets in Hayward, Pleasanton and San Ramon.
“National tenants are very bullish on expansion in the South Bay, especially in San Jose,” Taxin said. “Developers of these projects know that these tenants are out looking.”
Construction of the Village Oaks center should begin by year’s end, the developers said. It could be completed by late 2013.
The builders of the retail complex touted the demographics of the region. The average household income in the area ranges from $95,000 to $104,000, the developers said. The median household income for all of Santa Clara County is $86,850.
The developers also said they believe the center can be a success even if no new residential development occurs in the area.
“There is tenant demand for the space today, without relying on future rooftops,” said Jim Galovan, a Pacific Coast Capital vice president.
In 2011, the South Bay job market grew by 3 percent, tying the region with Houston as the nation’s most robust.
“Santa Clara County’s economy is very healthy,” Chung said. “All signs are pointing in the right direction.”
Contact George Avalos at 925-977-8477. Follow him at Twitter.com/george_avalos.