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Preparing for the Quantum Storm
Whether or not they'll ever work, quantum computers pose a big enough threat to online security that cryptographers are already scrambling to adapt.
Try not to panic, but quantum computers stand poised to upend today’s information technology infrastructure. These revolutionary machines, though likely at least a decade off, could handily crack the encryption codes that protect everything from email to online shopping and banking, even classified government documents.
“With quantum computers, there is a real danger that the encryption algorithms we use today may be compromised,” says quantum physicist Andrew Shields of ...


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An international private equity firm has purchased a majority stake in cosmetics packaging supplier Geka, providing the brush maker with the financial backing it needs to continue its international expansion.
In a bid to extend its position in emerging markets, Symrise has recently finalized two acquisitions, the Brazilian activities of fragrance manufacturer Belmay and natural perfume oil company, Trilogy Fragrances.
Market research firm Global Industry Analysts (GIA) has predicted the global personal care products market to reach $333bn by 2015, driven by increasing product innovations, growing disposable incomes and better market penetration.
The unstable economic environment, particularly in Europe, has taken its toll on the consumer packaging business, with beauty packaging being one of the worst hit, according to global packaging supplier MWV.
Marico, one of India's leading Consumer Products & Services Groups in the Beauty and Wellness space, will acquire Set Wet, Livon, Zatak and certain other Personal Care brands currently owned by Reckitt Benckiser, as it looks to expand its men’s...

domain: news


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What CPAs need to consider about stablecoins
By this point, almost everyone who works in an accounting or finance related field has heard of blockchain and cryptocurrencies, and has most likely been involved in some sort of education on the subject.
Possibly the hottest and most engaging topic to impact the financial services landscape since the internet, blockchain has been a headline-making phrase at hundreds of conferences since it burst into mainstream conversation via the cryptocurrency Bitcoin in 2017. But with all the volatility lately with Bitcoin and other cryptocurrencies, investors have been seeking stability in the idea of a “stablecoin.”
The concept of a stablecoin seems to represent the best of both worlds when it comes to the cryptocurrency marketplace. Specifically, this recent development in the cryptocurrency space attempts to address one of the core pain points and issues that has prevented the broad adoption of cryptocurrencies across the business landscape: price volatility. While initially developed and thought of as an alternative to traditional fiat currencies – such as the U.S. dollar – the price volatility associated with many cryptocurrencies has made the use of these items as a medium of exchange slower than expected. The idea of a stablecoin has been discussed as the potential missing link to foster greater mass market adoption of cryptocurrencies.
Let’s take a look at some common questions associated with these new applications.
What is the big deal about a new type of cryptocurrency?
With the market, not to mention the headlines and business news networks, awash with news of different cryptocurrencies, initial coin offerings and “airdrops,” it may seem like this development is yet another iteration of the same old cryptocurrency theme. That assumption would be a mistake, as the price stability accompanying many of these more mature stablecoins is a potential game changer in terms of adoption, using these items as currencies, and increased transparency for accounting and reporting purposes.
How are stablecoins different from cryptocurrencies?
The primary way in which stablecoins are different from other cryptocurrencies, including the ubiquitous Bitcoin, is that these stablecoins are pegged to some existing asset such as a fiat currency, gold or some other asset. This pegging and ensuring price stability represent an important step in getting both individuals and organizations to actually use cryptocurrencies as a medium of exchange versus treating them as commoditized investments. Put simply, the average investor or consumer simply is not comfortable using something that can change in value by double-digit percentages as a way to pay for goods and services.
Are all stablecoins the same?
Some might assume, incorrectly, that since the different stablecoins introduced to the marketplace have tended to be pegged to the U.S. dollar, all of these stablecoins can be classified and thought of as nearly identical. Such an assumption, although appealing, is incomplete and can lead to incorrect decision making. Here are a few questions to ask:
How is the price stability actually achieved? Is there a direct backing of every stablecoin in circulation with corresponding fiat currency? Or is the price stability achieved via the execution of a series of smart contracts on a decentralized and distributed public blockchain such as Ethereum? Conversely, there is also the possibility that the token used for commercial purposes (coin A) is actually supported or backed by a “reserve” stablecoin (let’s call it stablecoin B), which in turn is linked to a fiat currency.
However the price stability is achieved, and assuming the issuing organization has the technical capabilities to achieve that stability, another question to ask is how are these amounts verified? This leads to the next question CPAs need to consider:
How can these stablecoins be audited?
An ongoing conversation in the accounting space is exactly how to value the quantity and value of cryptocurrencies that various entities claim to possess. In addition to those issues, already complicated by the cryptographic and anonymity associated with some of the cryptocurrencies themselves, is the fact that — as the name implies — every stablecoin that’s created should be backed by some underlying asset. A key consideration that should be taken into account when analyzing stablecoins or offering advice to clients on these matters is whether or not an independent third party has verified that this linkage — between the token and the underlying stabilizer —actually exists.
The development of stablecoins should not be perceived as an unusual or unforeseen occurrence. Instead, it should be viewed as an inevitable consequence and effect of the price volatility that has accompanied virtually every cryptocurrency introduced to the marketplace. Stablecoins should not be viewed in a cursory way, and don’t simply assume all of these items operate in an equivalent manner. As with every other asset, application or investment option in the marketplace, it is imperative that CPAs and other financial professionals perform due diligence before offering advice to current or potential clients. Work with a specialist or cryptoasset expert. Moving forward, CPAs and other financial professionals will have to possess a solid understanding of what a stablecoin is, what it represents, and how it functions.


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Back in 1991, a plucky little Game Boy game was released that merged multiple mecha anime licenses into one lovely little strategy game. Thirty years later and the Super Robot Wars series is still going strong.
Released on April 20 back in 1991, the original Super Robot Wars was an interesting experiment on the part of Banpresto. Mixing disparate mecha anime licenses together, you had the original RX-78-2 Gundam team up with Mazinger Z to take on a large variety of enemy forces.
The game was tough too, there was very little leeway for players if they made a bad decision in terms of moving their various units. However, despite its difficulty it managed to not only succeed but also foster additional sequels.
Fast forward to today, and we have an enormous library of Super Robot Wars games to choose from. Not to mention that the newer mainline games are even available in English.
Considering the impact Super Robot Wars has had on anime, gaming and even toys and model kits, it’s no wonder the series has managed to endure so long.
As for the next game in the series, many fans were expecting an announcement earlier this year, but it seems that COVID-19 has delayed that somewhat. I think it’s safe to assume that a new Super Robot Wars game is on the way, but it’s likely going to be announced later this year.
Read my Forbes blog here.


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Meizu is ready to launch its new Meizu 17th Series smart phone in China, and before the launch there was information about the smartphone continuing to leaked online. Also. Make no mistake, now new information has leaked online that the Meizu 17th will have a 4-megapixel rear camera.
Meanwhile, a leaked information source has clearly shared photos of the new Meizu 17th smartphone and also revealed the upcoming smartphone’s upcoming design. . Even more impressive is that the recent photos show us that the 17th Meizu has a 4-axis rear camera similar to the Galaxy S10, and is accompanied by a flash LED. Surrounded by a camera, one that looks really weird. According to leaked sources, the Meizu 17th Series’s rear camera features a 100-megapixel primary camera plus a 20-megapixel primary camera, plus a 20-megapixel one with the same. No further details have been released.
According to leaked information, the Meizu 17th Series comes with two Refresh Rate options for users to choose from, including 60Hz and 90Hz. In addition, the top-end Meizu 17th and Meizu 17th Plus smartphones are expected to use the Snapdragon 865 chipset, with 8 / 12GB RAM options, LPDDR5 and 512GB of storage options.


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Eenhana – More than hundred food and beverage traders, 60 corporate companies and small and medium entrepreneurs (SMEs) have so far booked their space for this year’s Helao Nafidi business and expo event, which runs until November 3.
Business networking, entertainment and fun are the main menu for the Helao Nafidi Business Expo in the Ohangwena Region.
The expo takes place at its annual and traditional venue, the Helao Nafidi Business Recreation Park which is situated in the Ondangwa and Oshikango main road of the northern border town.
All participants and exhibitors are from within Namibia, said Selma Shekuza, the Helao Nafidi Officer for Local and Economic Development and Tourism.
“We have extended invitations to our neighbours in Angola and Zimbabwe, but we have not received responses from them and but our local exhibitors have already put up their stalls and are ready for business,” she said.
“We shall depend on our local exhibitors because with our venue, it is difficult to invite them (foreign exhibitors) but as from next year, we have better plans since we are constructing a state of the art exhibition centre that will have the capacity to accommodate many exhibitors including foreigners,” she explained.
Sports activities, arts and music performance and kids’ entertainment which was introduced as part of the activities will once again be among the main features expected to attract families and revelers at this year’s expo.
“We have plans to change the current state of the expo by bringing in a tourism attraction element in future for the development of our Ohangwena Region,” Shekuza explained
The leadership of the town last month held a fundraising gala dinner which served as the launching pad of the event.
“It was a huge and a successful dinner where the town generated more than N$ 300 000, compared to N$180 000 which was collected during the 2012 fundraising dinner,” she noted
The Minister of Finance Saara Kuugongelwa-Amadhila officiated at the fundraising dinner, while according to this year’s programme President Hifikepunye Pohamba is expected to officially open the expo on October 30.
The event will also see some of Namibia’s top and award winning artistes such as the Dogg, Mushe and Gazza and some other upcoming artistes in the north entertaining the trade fair exhibitors and show goers.
This year’s expo will be held under the theme “Promoting Local Economy” and also held under the patronage of the northern business tycoon Ben Hauwanga of the BH Group of companies.
By Clemence Tashaya


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国际足联世界杯足球赛几年举行一次e food has become more diverse and delicious in recent years. In 2003, there were 20 or 30 types of food for China’s first astronaut, Yang Liwei, who was carried aloft by Shenzhou V.近年来，国宇
gears in place while shopping online, upgrading the whole shopping experience.报告显示，用户可以过VR眼镜来查看在线商品的详细信息，并通过点头或凝视屏幕上的商品来认购买传统上，VR仅用于展示商品，这意味着用户必须摘除VR设才能手动完成vernacular culture that exists in Hong Kong’s back alleyways, and the thriftiness of the workers that use these spaces.Michael Wolf: 照片展示了港后巷里的土学问，还有工人利用小空间节的生活方式You see this
时仅仅为了脸部保暖。有些女性也在素颜的时择戴口罩"Since I wasn't judged by my appearance, I think I was able to be more outgoing with women," said 28-year-old Yasumasu Kishi at a weekend speed是玩具”。Ant Financial Services Group, which was demonstrating VR Pay in Shenzhen on Wednesday, operates China's largest online payments service Alipay with more than 450 million daily users.
tains, and the city government allocates 300 yuan a year to every child for teaching materials.2011年到去年，铜仁市总收入为378.8亿元，自2012年起，市政府将年度政预算5％拨给幼儿园项目。地方政府为山区建立的每设施给予1万元，市政府于夸夸其谈，并试图留下印象，以他将会尽力去炫己，希翼你会他们吸引4. Noticing little changes4.注意细微变化If they comment when you change your hairstyle or wear something different, then they could well like you.
美金强劲，人民币兑美金水平达到史上最低In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.在中国汇市场，每交易日，人民币中间
s are owned by China Eastern Airlines.国民用航空局正在查的两架事故飞机为中国东方航空企业所有The authority suggests the control center should be held accountable, as well as the crew of taxiing aircraft A330, for录病毒药物的使用也意味着研究人员并不能确保艾滋病毒销声匿迹不过，这一新发现仍让人看到希翼。Mark Samuels, the managing director of the National Institute for Health Research Office for Clinical Research Infra?structure, told
Xinhua reported in September.新华社九月报道称，今年年底将有望始建设这845里长的铁。The line from Kunming, Yunnan Province, will connect Thailand’s Nong Khai Province with Bangkok and Rayong Province. Itt rate hike has pushed the U.S. dollar index to new highs, said Ren Zeping, chief economist at Founder Securities. Ren also attributed the yuan’s weakness to increasing downward pressures on dom
国际足联世界杯足球赛几年举行一次料进入太空，包括五牛肉甜品和肉蒜酱，后几乎在每间四川餐厅里都很流行Recipes were designed and arranged in accordance with nutritional requirements in different phases of the mission.菜谱根据不同任务阶营养的要并且安排详情


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The Save-On-Foods at Metrotown in Burnaby is closing on Dec. 29, according to an email sent to the NOW on behalf of Julie Dickson Olmstead, spokesperson for the Overwaitea Food Group.
"We can confirm that we've announced to our team that we'll be closing our Metrotown Save-On-Foods store on Dec. 29.
"Sales have been in decline at this store for years because of the increase in low-paying non-union competitors in the market," the email from the media relations department stated. "In addition, we're facing escalating business declines as a result of the major renovation taking place at the mall. This sales decline, combined with our uncompetitive operating costs, makes it impossible for us to continue to keep the store open."
Biz excellence gala next week
Will Canlan Ice Sports, Ritchie Bros. Auctioneers or FortisBC be named Burnaby's Business of the Year at the annual Burnaby Business Excellence Gala next week?
That, and other category winners, will be announced at the gala on Nov. 7 at the Hilton Vancouver Metrotown.
Other categories include Small Business of the Year, Business Innovation, Entrepreneurial Spirit, Not for Profit, Burnaby Community Spirit Award, Environmental Sustainability, Family Friendly Business and Business Person of the Year.
The reception begins at 5: 30 p.m., and dinner is set for 6: 30 p.m. For more info call 604-412-0100.
© Copyright 2013


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Now that New York Fashion Week is officially said and done, we have some praises to sing. Many designers, like Hood By Air, Lacoste, and more showed off genderless clothes, further breaking down gender barriers in the fashion industry.
As fashion tries to diversify, this is definitely a step in the right direction. While there's still a long way to go in the industry, with people like Kanye West promoting non-gender specific clothes on the runway, we're getting out a positive message better and faster. Style editor Gaby Wilson breaks down the top 5 designers who presented clothes that anyone, yes anyone, can wear.


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At one point, pest control was the last thing Jamie Davenport thought he’d do. In the 1990s, he and his brother Jeff sold pest services for a door-to-door marketing firm to put themselves through college. When they decided they wanted to start their own business, they had been selling pest control so long it made the most sense to open a pest control company. Originally from Washington state, they settled on starting their business in the Sacramento area after touring friends’ pest control businesses and realizing the city had a lot of growth opportunity. As they were beginning to build Official Pest Prevention, their brothers, Bill and John, founded a pest firm of their own in Fresno. Eventually, Jamie, Jeff and John combined both companies under the Official umbrella, and Bill exited the business.
The Decision to Sell
The Davenports thought selling the company was a long way off — 10 or 15 years down the road. But as valuations in the pest control industry rose, they decided to test the market in 2021.
“We told ourselves that we didn’t want the time we sold to be the only time we went through the process,” Jamie says. They consulted with PCO M&A Specialists Managing Member Dan Gordon in August. They knew Dan’s work from his writing in trade magazines and his newsletter.
“Things were going well — we were profitable and growing,” Jamie says. “Valuations were really high and we didn’t know if it was the peak or not. To our surprise Dan and his team got us an offer that we felt like we had to take.”
In addition to a great offer, the stress of owning a business, which can be difficult, made their decision much easier to consider.
“We felt like we had all our chips on the table all the time,” Jamie says. “The stress of personnel issues and liability took its toll.”
The PCO M&A Specialists team, led by Dan and Steve Linskey, handled most of the work involved with putting the board book together to go to market. Jamie says he spent three to five hours a week for several months getting the company ready to sell, and the PCO M&A team seemingly “worked around the clock” to prepare for the sale, throughout the negotiations and during the due diligence process.
“There’s no way we could have done it without that kind of support,” Jamie says. “I felt like Dan and Steve were super experienced and totally trustworthy.”
When offers began coming in, despite being pleased with the valuations, Jamie says it was a tough call to make and “there were a lot of sleepless nights.”
“It often felt like we were stuck between a good decision and a great decision,” he says.
In the end, the Davenport brothers opted to sell their company to Anticimex. For the time being, they are all still on board fulltime to continue growing the company. Jamie adds, “It has been nice to feel like you still have a part in the business, but you’re not 100 percent liable with all the chips on the table.”


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Manama - BBK has opened doors to their branch at the Bahrain City Centre Mall.
The branch is located next to Gate 7 of the car park entrance (level 3)
The opening ceremony was led by Mr. A.Karim Bucheery, CEO of BBK and attended by special guest of honour Ms. Roqaya Al Ghassra, who has represented Bahrain in many regional and international sporting events and won many gold and silver medals.
Also present were Deputy Chief Executives (DCEs), Heads of the Retail Banking Division, as well as other senior management and staff.
Ms. Ghassra is also one of BBK’s customers who says that her favourite part of the banking experience with BBK is the online banking service as she is constantly travelling and finds it very convenient to transact online on her account.
At the opening Mr. Bucheery said, “As part of our strategic plans of expansion, I am glad to announce the official opening of our 16th branch here at the Bahrain City Centre Mall. The branch is modern and reflects the high standards that our customers expect from BBK and we look forward to making banking a pleasurable experience for all our customers.”
Giving reason to why City Centre was the location of choice, Mr. Bucheery further said, “We have put in all our efforts to ensure that we are constantly going where the customer goes. Our customers are our top priority at BBK. Our aim, always, is to make the process of banking easier for our customers and hence we saw Bahrain City Centre Mall as an optimal location for our branch. The mall is centrally located and that enables people living or working in its vicinity to visit it often, the same comfort will now be available to our customers as well.”
BBK plans to launch a new financial mall in Isa Town by the middle of next year and is in the process of signing a lease for a new branch in Exhibition Road. The bank is also going to develop another financial mall at Suq Waqef in Hamad Town as part of their plans to expand their network in Bahrain. In addition, the Riffa Financial Mall, which will be the largest financial mall and will house the Cash Management Centre and Disaster Recovery Centre, will open its doors in 2009.
BBK has been the pioneer in Commercial Banking for the last 35 years in the Kingdom of Bahrain. As a revolutionary market leader, BBK has built a name and reputation which is respected locally as well as internationally. To maintain this reputation, BBK has been at the forefront, incorporating the latest technologies to provide the finest services. One example of which is the e-banking solutions offered by BBK, which provide new generation services through its user friendly award winning website www.bbkonline.com, along with the telebanking, Cash depository machines and ATM services.


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Conveyor-belt sushi chain Kura Sushi opened its first mainland China location Thursday in Shanghai, aiming to have 100 outlets in the world’s second-largest economy by 2033 as locals resume dining out after long COVID shutdowns, reports Nikkei Asia. “Shanghai is home to so many Japanese restaurants and already has the foundation for appreciating conveyor-belt sushi,” Kazuto Kondo, head of the Japanese chain’s Shanghai arm, told a news conference the same day. The company will “shift its overseas openings into high gear as a global restaurant chain,” he said.
The new location boasts a prime spot inside a popular shopping center easily accessible via three subway lines. As with locations in Japan, the Shanghai restaurant features a smart system where customers can dine without coming into contact with staff or touching any store devices—from using a touchless screen to enter the number of people in their parties to paying their bills.
The menu features items limited to China, such as salmon tataki sold for RMB 12 ($1.70) per plate, as well as familiar dishes from Japan, including broiled eel, which costs RMB 24. About 80% of the ingredients are procured in China, the company said.


text: Rumor: Next-gen WWE game in the works, will be released in two years, new consoles at E3 2013 August 27th, 2012 Posted in 360, General Gaming, PS3, Rumors Posted By: Valay WWE ’13 senior producer Arnaud Frey has seemingly let out a few tidbits about the future of the franchise as well as new consoles in an interview with jeuxvideomagazine.com. The conversation was naturally recorded in French, but NeoGAF user “Backflip” translated relevant portions of the interview. Frey apparently revealed that the team is developing a new wrestling title for next-gen consoles. These systems will be announced at next year’s E3 – which would be too surprising – and Frey says the first WWE entry for the hardware will be released in two years. Regarding WWE ’14, this is being made for current-gen systems.


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BUSINESSES in the city centre were under starters’ orders on Friday for the inaugural Chester Retail Cup.
The event took place in Eastgate Street with 12 teams competing on hobby horses.
Cruise Nightclub romped home to win the race, with the Grosvenor Shopping Centre coming in second and Chester Market taking the third place.
A large crowd gathered to hear Channel 4 Racing commentator Graham Goode call home the inaugural winner in what organiser Stephen Wundke hopes will become an annual event.
He said: “The race was designed to create a sense of occasion leading up to Chester Races and I thank Chester Racecourse for helping to stage our first cup.
“We are delighted with the response and are already starting to plan 2010.
“I think the sense of fun and enjoyment was there for all to see and in the future we would like to see a parade of past equine Chester Cup champions in the street.
“I think we will have to expand the Retail Cup next year to include some heats because so many retailers wanted to take part – I can even see a schools event taking place in the lead up to the final, to compete against the likes of Highfield school who supported our parade this year.
“Suffice to say I think any visitors who witnessed this event, and there were many, will have left saying what a fun place Chester was to be.”
The event was designed by Chester City Management and sponsored by Chester Racecourse to forge stronger links between Chester retailers and people visiting the city for Chester Races, with some 50 special retail offers available.
Participating stores have large cardboard figures of past Chester Cup winners to signify they are part of the programme of special deals.


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A controversial new bill in New York aims to require some Chick-fil-A locations to open on Sundays, challenging the company’s long-held tradition of remaining closed that day.
Background on Chick-fil-A’s Sunday Closure Policy
For decades, Chick-fil-A has had a policy of closing all of its restaurants on Sundays in order to give employees a day to rest and worship if they choose. The founder of Chick-fil-A, Truett Cathy, was a devout Southern Baptist and implemented the Sunday closure when he opened the first restaurant in 1946.
Chick-fil-A has expanded across the country but still maintains its Sunday closure despite criticism at times that it limits access. The company views its policy as a competitive advantage in recruiting employees and consider it a core part of its corporate culture and values.
Key Details of the New Legislation
The new bill, referred to as the “Rest Stop Restaurant Act,” would require restaurants operating in New York State Thruway rest stops to remain open seven days a week. This would impact a few Chick-fil-A locations along the Thruway system.
The legislation was proposed by New York State Senator James Skoufis, who argued the bill is aimed at ensuring accessibility and availability of food options at rest stops. If passed, restaurants could face fines up to $1,000 per violation if they close on a particular day of the week.
Proponents of the bill say it will provide consistency for travelers and prevent turning them away if a restaurant is unexpectedly closed. They downplay the targeting of Chick-fil-A and frame it as a matter of accessibility.
Reaction and Controversy Around the Legislation
The bill has sparked controversy nationally as it directly impacts Chick-fil-A’s ability to continue its long-held Sunday closure tradition. Critics view it as an attack on the company’s values and corporate policy.
Chick-fil-A put out a brief statement defending its right to set its own hours but did not directly condemn the legislation. Franchise owners warned that being forced open may negatively impact their ability to retain workers.
Conservative policy groups and religious freedom advocates spoke out strongly against the bill as government overreach. They argue Chick-fil-A should have the freedom to close in observance of Sabbath on Sundays if it chooses to.
More liberal critics called the targeting of Chick-fil-A vindictive and an unnecessary use of government regulation against a company based on ideological grounds. They worry about the precedent it may set.
|Supporters of Bill
|Opponents of Bill
|Increased accessibility and availability of food options
|Infringes on company’s religious freedom
|Provides consistency for travelers
|Sets concerning precedent for government overreach
|Addresses discrimination concerns
|Hurts ability to retain workers
|Levels playing field for other businesses
|Unnecessary use of regulation against company
Potential Impact and Path Forward
It remains unclear if the Rest Stop Restaurant Act has enough support to actually pass into law. But it has ignited nationwide debate over issues of religious freedom for corporations and the extent government can regulate businesses.
If passed, Chick-fil-A would likely be forced to decide whether to pull out of several profitable Thruway location contracts or start opening on Sundays against its long-held tradition. Franchise owners could consider legal challenges arguing the rights of their business were violated.
The coming legislative debate in New York could lead to implications for Chick-fil-A operations in other states as well. Texas and other conservative states have already pledged support for Chick-fil-A’s right to set its own hours. They may take steps to protect that right going forward.
Ultimately the fate of the iconic Chick-fil-A Sunday closure policy lies in the hands of New York lawmakers. Their decision could transform a tradition the company has touted since its founding. All eyes will be on Albany as legislators weigh issues of corporate religious freedom against demands for accessibility.
To err is human, but AI does it too. Whilst factual data is used in the production of these articles, the content is written entirely by AI. Double check any facts you intend to rely on with another source.


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The first quarter of 2020 was very good for Canada’s largest grocery and pharmacy conglomerate, Loblaw Companies Limited.
Revenue in the first three months of the year reached $11.8 billion, up 10.7 percent from the same period one year earlier. Earnings before income taxes, depreciation, and amortization were up 12.4 percent, to $1.17 billion.
One factor has been its “omnichannel approach” to reaching customers. It sells groceries through a long list of retailers, including T & T, Real Canadian Superstore, Loblaws City Market, Wholesale Club, and Shoppers Drug Mart.
Loblaw also has more than 600 franchise stores under banners such as No Frills, Provigo, Valu-mart, and others.
It’s one reason why the family that oversees this empire, the Westons, is worth US$8.2 billion, according to Forbes magazine.
British Columbia–based food giants are also trying to reach customers in a multitude of ways.
The Jim Pattison Group’s grocery banners, for example, include Save-On-Foods, Urban Fare, Meinhardt Fine Foods, Nesters Market, PriceSmart Foods, and Choices Markets. Collectively, they attract two million visits per week.
Loblaw and Pattison also have their own in-store brands offered in their outlets.
Flooding the community with different grocery outlets in many locations is a way for Canadian companies to remain competitive against such American goliaths as Walmart, Costco, and Amazon, which now owns Whole Foods Market.
Georgia Main Food Group, controlled by Vancouver’s Louie family, operates IGA and Fresh St. Market.
Union takes Sobeys to B.C. LRB
Last year, Kim Novak became the first woman to head the 101-year-old union local, which represents more than 20,000 workers in a wide range of industries.
Since taking office, she’s been battling Sobeys after it shut down several Safeway stores and rebranded them as FreshCo franchises with different collective agreements.
“We recognize that diversifying a business and being able to increase business and market share is a good thing,” Novak told the Straight by phone. “It’s also a good thing for our members because it allows those businesses to be able to bring in more customers.
"Where we have a major issue is when doing so, you’re undercutting wages and benefits by reducing what people would be paid by decreasing the ability of them to access full-time jobs.”
Because the FreshCo stores are considered independent by Sobeys, Novak said that UFCW 1518 has to negotiate separate contracts with each store.
According to Novak, an arbitrated first contract gave starting FreshCo workers a rate only slightly higher than the minimum wage.
“At Safeway, you have access to hours in classifications that allows you to be able to work your way up a wage scale, whereas at FreshCo that’s not the case,” she said.
UFCW 1518 has filed applications to the B.C. Labour Relations Board seeking to have Sobeys and seven FreshCo franchisees declared a “common employer” with a single bargaining unit.
The union has argued that Sobeys spent millions of dollars converting former Safeway outlets into FreshCo stores in B.C., and that Sobeys hired and trained the workers at FreshCo stores.
“UFCW 1518 expects that there is very strong financial and contractual control by Sobeys over the franchisees and the employees at the store,” the union wrote in its application.
Novak said the union hopes to obtain documents through the disclosure process to support its position that Sobeys is the true employer.
If UFCW 1518 succeeds with its argument, it could have ramifications on other grocery chains, including Loblaw, which maintains that its No Frills discount stores are franchises. Sobeys also owns Thrifty Foods, which is a large supermarket chain on Vancouver Island.
None of the Canadian corporations mentioned in this article, including Sobeys, agreed to the Straight’s request for an interview by deadline.
COVID-19 causes a major shakeup
Sylvain Charlebois, a Dalhousie University professor and food-distribution researcher, is one of Canada’s leading authorities on food policies.
In a phone interview with the Straight, he said that COVID-19 has upset the applecart, so to speak, because it is accelerating grocery chains’ adoption of e-commerce to retain market share.
Seattle-based Amazon, of course, is the market leader in this regard. And when it bought Whole Foods Markets for US$13.4 billion in 2017, it served as a wake-up call to the Canadian grocery sector.
But Charlebois pointed out that online selling also makes it possible for everyone across the supply chain, including farmers, to reach buyers.
“Pepsico is doing it,” Charlebois noted. “Saputo is doing it. Gordon…Sysco, you name it—they’ve all decided to sell directly to consumers.”
The professor also pointed out that real estate is undergoing a major transition due to the pandemic.
Working at home has become a legitimate option for large numbers of people. He suggested that this might even cause more people to leave cities and live in suburbs.
“That will have a huge impact on where grocery stores are actually going to be located,” he said. “You want to reconfigure your e-commerce strategy based on where people are.”
So even though the Canadian grocery chains may now seem flush with cash, there’s no guarantee that they’ll all thrive in the future.
“There are so many things in flux right now,” Charlebois said. “It’s very difficult to understand what’s happening.
“But I would say, right now, the omni-channel approach is becoming more popular,” he continued. “Getting to the consumer in many different ways is going to be a value strategy moving forward.”
This isn't just an issue for the supermarket giants.
Smaller B.C. players—such as Donald's Market and Fruiticana—are also fighting to maintain their market share in an era when groceries are being sold by everyone from Dollarama to HMart.
Workers lose pandemic premium
In the meantime, however, the unions aren't happy that grocery giants recently did away with giving workers an extra $2 per hour pandemic premium.
Some of them appeared before a House of Commons committee on July 6 to tell MPs that some workers have died of COVID-19. Two more recently tested positive in Windsor.
Novak said that prior to the pandemic, people often looked upon going to the grocery store as a mindless pastime at the end of their day, without fully recognizing the workers who made all of this possible.
That's changed in recent months for many Canadians.
Nowadays, she noted, grocery workers have to remain up to date with health protocols to keep themselves and customers safe.
"I think that we, as a society, have underestimated how important that work is," Novak said.


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People on the Move
Published 10:00 pm, Sunday, April 22, 2007
Brueggeman and Johnson Yeanoplos P.C., hired Asenath Partee as tax attorney and project valuation analyst.
Mercer Investment Consulting hired Christopher Tauber as a principal and senior investment consultant.
Wells Fargo promoted David Lokosh to account manager.
Bullivant Houser Bailey PC hired Russell Cofano as an of-counsel attorney.
Major, Lindsey and Africa hired Rehman Bashey as managing director for the Seattle office.
- Lyft Testing Netflix-Like Subscription Packages for Riders Wibbitz
- Lexus Is Getting Into the Luxury Boat Business Fortune
- Start-Up Offering to Preserve & Upload Your Brain, But There's a Catch Buzz 60
- Amazon Unveils 'Spheres' Green Space In Seattle Associated Press
- Tariffs could affect Maine businesses WMTW
- Triad CEO provides tips on how women can maximize business potential, finances WXII
- Lending business changes policies in wake of Florida school shooting Fox5Atlanta
- The Booming Business of eSports Cheddar TV
- Inside essential oils marketing, a billion-dollar wellness business with plenty of critics Mic
- Millennials fell for scams more than grandparents last year Fox29
- International reaction to Trump's tariffs Euronews
- EXCLUSIVE: Facebook Takes on LinkedIn With New Jobs Tool Cheddar TV
- Amazon Acquires Smart Doorbell Maker 'Ring' for a Reported $1 Billion Wibbitz
- Apple Admits it Uses Google's Cloud for iCloud Wibbitz
- A look into the shipping container home business Fox29
- Airbnb Appeals To Luxury Market With 'Airbnb Plus' Buzz 60
- The Shocking Amount Americans Spend on Impulse Buys in Their Lifetime Buzz 60
- US Marijuana Job Growth Could More Than Double By 2021 Buzz 60
- Amazon Offering Cash Back to Customers Who Shop at Whole Foods Wibbitz
- Volkswagen Sets Record for January Sales Wibbitz
Wonderland Development Center named Carol Bull development officer.
Edelman Seattle hired Jeremy Bartram as senior account executive, Alexanne Brown as assistant account executive, Brian Eskridge as account supervisor, Jessica Haddox as account executive and Carolyn Sueno as assistant account executive.
Parity Corporation appointed Adam Herman as director of consulting.


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CLEVELAND, Ohio -- It seems an unlikely place for one of the nation's largest ricotta cheese makers.
The 62-year-old Miceli Dairy Products on East 90th Street in Cleveland is surrounded by vacant land and run-down buildings. But Chief Executive Officer Joe Miceli, who grew up in a nearby house along with his siblings, sees a neighborhood full of potential.
"They call this the forgotten triangle," Miceli said. "That's not the way we look at it. We think it's an ideal spot."
It's the spot where the Miceli family plans to break ground this summer on a $16 million to $20 million expansion of its operation south of Buckeye Road that will add 60 workers to its 138-employee work force within five years.
The first phase, which will include additions to the current plant as well as to property behind it, is expected to be done by mid-2012, enabling the company to double production of ricotta cheese. The second phase, to be completed a few years later, includes a new mozzarella and provolone factory, a bio-digester and waste treatment facility.
Those plans became a reality this week when the company was awarded a $5.49 million loan through the Small Business Administration's 504 program, which helps small businesses with plant and equipment expansion. The loan is the largest in the program's history. Other funding will come from Cleveland banks.
"It's not only the largest loan ever done in the history of the SBA, but more importantly it's significant because of what it means for Cleveland," said Gil Goldberg, director of the Cleveland SBA district, which includes most of the northern half of Ohio. "A family owned business that got its start in the neighborhoods can stay and expand in Cleveland, creating new jobs."
Miceli never planned to move -- not when other communities tried to entice him with incentives or even when Cleveland suggested he move to another area. It's not easy buying several small parcels of land, said Tracey Nichols, Cleveland's economic development director.
The company hopes to buy 12.6 acres for a facility to transform waste from the cheese into energy.
A vacant building torn down two weeks ago at East 90th and Buckeye Road was last used as a grocery store -- a few groceries to be exact.
"First it was an A&P. Then it was Krogers and then SaveMore," Miceli recalled. "That's where our new visitors center will be, along with a test kitchen and a research-and-development center.
"We're in a great location. We're just over a mile from Cleveland Clinic, a stone's throw from the new Juvenile Center on East 93rd and about three miles from downtown. We're also close to major freeway interchanges," he said.
Nichols admires the family's allegiance and commitment to the neighborhood, which includes hiring and promoting from within the company. About half the company's employees live in Cleveland and about a third are minorities, she said.
"A lot of people I've met have moved up from sweeping a broom to operating equipment and learning new roles," she said. "They're really a company that takes care of their neighborhood. Their history is there."
The company started when Miceli's father, who worked on a dairy farm in Newbury Township as a youth, started making cheese from unsold milk. When a bottling company went on strike, the family got serious about making money with cheese.
"One door closed and another one opened," Miceli recalled. Back then, curdling was done by hand and cheese was sold in horse-drawn wagons and pickup trucks that had to be hand-cranked.
Today, the company uses state-of-the art technology, large vats and conveyor belts to make more than 8,000 pounds of ricotta every hour with whey, milk and cream. It also makes 70,000 pounds of shredded mozzarella a day.
The company produces more than 60 products, ranging from mozzarella sticks and shredded cheese sold in grocery stores throughout the country to cheese packaged for food service distributors, schools and government institutions.
"We're like any other business. You can't stay the same," Miceli said. "You have to keep moving ahead."


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As you may or may not know, Xiaomi was officially launched today. And it sold out in 8 minutes (They did not revealed the number of handsets sold though). On the same day, SingTel announced the Xiaomi Redmi price plans. Basically, the Redmi is free for all price plans (2 years contract) except the SuperLIte (Redmi: S$68) and it will be available from 27th February.
For Xiaomi’s next sales announcement, it will be announced tomorrow at their Facebook page.


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On Wednesday, the local market indexes got off to a somewhat positive start, with the benchmark indices Nifty50 up 0.22% at 61,896.2 levels and Sensex up 40 points during the open.
On Wednesday, a number of industry leaders, including Larsen & Toubro (NS: LART), Dr. Reddy’s Laboratories (NS: REDY), and Bosch (NS: BOSH), are expected to announce their quarterly financial results for the month of March.
L&T, a significant construction-to-technology company, is planning to have a Board meeting on May 10 for the purpose of announcing the audited financial profits for the quarter that ended on March 31, 2023, along with a dividend, if one is necessary. The meeting is scheduled to take place in Mumbai.
Today is also the day when the well-known pharmaceutical business Dr. Reddy’s Labs will publish its results report for the quarter that ended in March.
Many prominent corporations will report Q4 FY23 results on May 10.
- Gujarat Gas (NS: GGAS)
- Escorts (NS: ESCO)
- JBM Auto (NS: JBMA)
- Godrej Consumer (NS: GOCP) Products
- H.G.Infra Engineering (NS: HGIN)
- Relaxo Footwear (NS: RLXO)
- Orchid (NS: ORCD) Pharma
- Novartis India (BO:NOIN)
- Procter & Gamble Hygiene and Health Care (NS: PROC)
- MAS Financial Services (NS: MASF)
- Venkys India (NS:VENK)
- Gokul Agro Resources (NS: GOKG)
- Sanofi India (NS:SANO)
- Pricol (NS: PRCO)
- Chambal Breweries and Distilleries (BO: CHBR)


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More than 3,500 Starbucks stores have been certified as “Greener Stores,” according to the company’s framework assessing performance across a broad range of environmental impact indicators, the company announced Monday, as it expanded its Greener Store program to new markets including Asia Pacific (AP), and Europe, Middle East, and Africa (EMEA).
Starbucks launched its Greener Store initiative in 2018, beginning with stores in the U.S. and Canada, and setting a goal to reach 10,000 Greener Stores globally by 2025. In order to be certified as a Greener Store, a store must successfully meet 25 required standards – developed in partnership with the World Wildlife Fund and SCS Global Services – across eight environmental impact areas ranging from energy efficiency and water stewardship to renewable energy and waste diversion, and be verified by an outside auditor.
Different combinations of sustainability features are used by stores to meet the standards, ranging from elements such as solar panels or water recycling tanks to less visible features including high efficiency appliances and HVAC systems and low-emitting paint and sealants.
According to Starbucks, the Greener Store practices have already saved the company nearly $60 million in annual operating costs in the U.S., including through water savings and energy reductions, and contributed to the company’s “resource positive” sustainability goals which include reducing carbon emissions, water usage and landfill waste by 50% by 2030.
Michael Kobori, Starbucks Chief Sustainability Officer, said:
“With a company of Starbucks scale – any one action, no matter how small, has the potential for massive impact. I’m so proud to see our Greener Stores framework continue to scale for good globally. The program we have created will continue to move us closer towards our resource positive goals.”
In addition to the first-time certification of stores in the AP and EMEA regions, Starbucks said that it will expand the Greener Stores program in the Latin America and the Caribbean (LAC) regions by the end of 2023 through building all new stores under the framework.
Grace Yoo, Starbucks Greener Stores Global Program Manager, said:
“Most of them look no different from any other Starbucks store, but there are Greener Stores quietly opening and operating all throughout the world, with unglamorous details like energy-efficient dishwashers, water-saving faucets, and carefully thought-out waste diversion signage to help do our part in mitigating the effects of climate change.”


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Mass produced electric cars are finally here but will drivers buy them? Unless you’ve been living under a rock somewhere, you probably are more than aware that GM and Nissan will begin selling the first mass produced plug-ins before the end of the year and several other electric models will be released soon. It has been a rocky road to getting here. But something is still missing along that road: places to charge up.
The Obama Administration is spending 2.4 billion dollars to try to revitalize the industry but much of that money has gone toward battery research, making longer lasting, cheaper batteries. A fraction of the federal funds is going into creating a charging infrastructure, via grants to charging companies and consumer tax credits.
115 million dollars in federal stimulus funds are going into the installation of chargers via two programs.
The EV Project is rolling out in 16 U.S. cities and will be installing chargers in homes, workplaces and public places. San Francisco based ECOtality is managing the project. ChargePoint America is a program brought to you by Silicon Valley based Coulomb Technologies that will also be offering, and installing, free chargers. Both companies are designing smart chargers which will be part of a wireless network. Members could use their smart phones, or a web portal, not only to find stations but to make a reservation, pay for a charge, find out if service has been interrupted or their car is fully revved up. Smart chargers are also designed to work better with our antiquated electric grid.
Both ECOtality and Coulomb will be installing some fast chargers in major metropolitan areas by January. These high speed chargers can rev up a car, like Nissan’s all-electric Leaf, in less than thirty minutes. Look for these chargers at some gas stations, super markets, coffee houses and highway truck stops.
If you can’t score a free charger from a charging company, you can try your local air district. The Bay Area Air Quality Management District has a plan to install 5000 chargers in homes, apartment buildings and work places in the next few years. They are considering requests.
In addition to shopping for a charger, drivers should think about notifying their utility that they might be increasing their load at home. Apparently, utilities like PG and E require they be notified so they can send someone out to check the impact on the neighborhood grid. The good news is California utilities are offering overnight discounted charging rates. The bad news is you would never know about it because it is very hard to find anything on their website that remotely resembles advice about electric vehicles. Southern California Edison, on the other hand, has a great site for drivers considering the electric options.
Now we just have to cross our fingers that some brave early adopters will take the leap and the charging companies will follow through to keep pace with the need for places to recharge.
Listen to Looking For A Charge radio report.


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YouTube is making it easier to beam content from mobile phones and tablets to TVs: The Google-owned video service announced Thursday that it is bringing its AirPlay-like remote playback functionality, which it introduced for Google TVs(s GOOG) in November, to additional devices from Bang & Olufsen, LG, Panasonic and Sony. (s SNE)
All of these devices are also getting the new YouTube for TV UI, which has so far only been available on Sony’s PS3, Nintendo’s (s NTDOY) Wii U and the Boxee TV player.
YouTube’s take on AirPlay allows users to browse videos with the YouTube Android app for phones and tablets, and then initiate playback on the TV screen with the click of a single button. Device discovery is facilitated automatically as long as the devices are in the same network. Previous iterations of YouTube second-screen control functionality required users to first manually pair their devices.
The announcement blog post didn’t spell it out, but it looks like this will initially just be available on new devices that are going to be announced at CES next week. YouTube also promised to add the functionality to devices from Philips, Samsung, Sharp, Toshiba, Vizio, Western Digital (S WDC) and other CE makers later this year.
The technology behind it is part of a bigger push towards an open AirPlay alternative, which Google eventually wants to make available to others to use in their own apps and on additional platforms as well. “We really want to move the whole industry forward,” I was told by Google product manager Timbo Drayson in November.


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They're decades ahead of us. While the press on meat - especially that found at fast food restaurants – is getting worse and worse, marijuana is on the rise for its many health benefits. Put both these trends together, along with the paltry wages paid by a McDonald's franchise, and you have all the ingredients giving rise to the first McAuto serving up cannabis buds. Off the menu, that is.
Eight employees at a McDonald's in the town of Genay, near Lyon, were cutting, weighing and packing marijuana at the salad bar, according to the account a co-worker (the informer) gave a French newspaper. Customers placed their orders via SMS and got their grass at the pick-up window, in the classic McDonald's take-away paper bags. It seems that the side business began in 2013 when a new management team arrived.
The sale of marijuana at the restaurant can be traced back to deteriorating labour conditions for the employees, according to The Local. Employees would wind up their workdays with card games lasting late into the night, along with generous doses of alcohol and drugs.
Some of the employees not participating in these shenanigans decided to send a complaint to the owners, which led to the dismissal of the eight workers in March of this year. In a statement the company explained that it dismissed the "entrepreneurs" for "illegal use" of the facility outside working hours, in addition to smoking pot on the premises, and then cooking with unwashed hands, without observing the most basic standards of hygiene.
The franchise's statement, however, makes no reference to the sale of marijuana at the drive-thru window. Police are investigating the case to clear up the details of what happened.
France, though it is the European country with the most cannabis users (40.9% of the French ages 15 to 64 have tried marijuana, ahead of Denmark, with 35.6 % of the population, and Spain, with 30.4%) is also one of those with the toughest anti-narcotics legislation, banning the production, possession, sale, purchase and use of any amount of cannabis, which is sanctioned with sentences of varying severity depending on the nature of the offence or crime.
Original story from Le Progress, seen in The Local France, with information from Ouest France.


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Apple Pay launched in Saudi Arabia and the Czech Republic today.
Customers in these countries can now add their credit or debit card from a participating issuer to the Wallet app for contactless payments in stores, apps and on the web.
Apple’s yet to officially announce the expansions although regional Apple Pay websites are now live and local users have reported being able to use the system as of this morning.
Supported banks in Saudi Arabua include the National Commercial Bank, Al Rajhi Bank, the Saudi Payments Network (MADA), Alinma Bank, Bank Aljazira and Riyad Bank.
The list of retailers that accept Apple Pay at launch includes large chains Carrefour, Krispy Kreme, IHOP, McDonald’s, Swarovski, Zara and more, with more than 28 local retailers accepting the mobile payments system for in-app payments.
In the Czech Republic, financial institutions supported at launch include Air Bank, Ceska sporitelna, MONETA Money Bank and payments company Twisto, with Komercni bank, Monet, mBank, Fio, Equa, Creditas and CSOB expected to integrate the technology later in 2019.
Read Apple’s support document for the list of participating banks. The rollout marks the 33rd and 34th markets where the company’s mobile payments system is now officially accepted.
The full list of countries where Apple Pay is officially accepted as a means of contactless payment can be found in the iOS Feature Availability webpage on Apple’s website.
US customers can use Apple Pay to buy prescriptions and more at CVS, the nation’s #1 pharmacy, as well as shop electronics at Target. 74 of the top 100 US merchants now accept Apple Pay, according to Apple itself, with the exception of notable holdouts like Walmart.


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What's going on?
Alibaba reported a trove of glittering results on Thursday.
What does this mean?
It’s not for nothing that Alibaba’s market value is currently around $600 billion lower than its 2020 peak: since then, the Chinese government’s been on a tech-sector crackdown, and oversaw a few years of economy-hitting lockdowns. But China’s eased up on both those fronts lately, and things are looking up for Alibaba too. Admittedly, the company’s biggest segment, its commerce division, brought in 1% less revenue than last year – but it still managed to better the retail sales dropoff in the country at large last quarter. What’s more, the firm’s international segment actually increased its revenue, keeping overall revenue growth in the green. With some deep cost cuts also helping out last quarter, profit came in 69% higher than at the same time last year – and lovestruck investors sent shares up 6%.
Why should I care?
The bigger picture: Overcoming obstacles.
Analysts are betting that Alibaba’s revenue growth will gather momentum as the effects of China’s reopening ripple through the economy – but it’s worth remembering the firm still faces some obstacles. For one, Chinese internet giants like JD.com and Pinduoduo have been upping their competitive efforts ever since the tech crackdown eased up. And for another, getting Alibaba’s cloud segment back on track will be no mean feat. Analysts at Morgan Stanley believe in the company, though – naming it their top pick in the Chinese tech sector for the first time in three years this week.
For markets: Enamored managers.
Fund managers aren’t hesitating to buy into China. A recent survey of some high-rollers – who manage $763 billion in total – showed that buying Chinese stocks was their most popular trade for the first time in the survey’s 38-year history. And they might have still more to rise: a key valuation metric suggests the Chinese stock market’s still cheaper than wider emerging markets, even though its earnings growth forecast is much higher.


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US Crosses the Electric-Car Tipping Point for Mass Adoption
For the past six months, the US joined Europe and China — collectively the three largest car markets — in moving beyond the 5% tipping point. If the US follows the trend established by 18 countries that came before it, a quarter of new car sales could be electric by the end of 2025. That would be a year or two ahead of most major forecasts.
Why is 5% so important?
Most successful new technologies — electricity, televisions, mobile phones, the internet, even LED lightbulbs — follow an S-shaped adoption curve. Sales move at a crawl in the early-adopter phase, then surprisingly quickly once things go mainstream. (The top of the S curve represents the last holdouts who refuse to give up their old flip phones.)
In the case of electric vehicles, 5% seems to be the point when early adopters are overtaken by mainstream demand. Before then, sales tend to be slow and unpredictable. Afterward, rapidly accelerating demand ensues.


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Each day we provide a roundup of five stories from around the Web that our editors read and found noteworthy. Follow us on Twitter for updates throughout the day @digiday.
YouTube to Real Tube?: Fred, the annoying squeaky-voiced YouTube star, got a Nickelodeon special and then a movie. Now, according to AllThingsD, Cartoon Network has snagged the rights to The Annoying Orange, another hugely popular YouTube series which has demonstrated the ability to draw a large, consistent audience. Are we on the cusp of a YouTube talent war? A few years ago, before the recession took hold, several of the major broadcast networks started trolling YouTube for talent, including NBC’s deal with the comedy duo Barats and Bereta. Now there are far more Web video producers to choose from, including Ray William Johnson, who just crossed the five million subscriber mark. Are the broadcast networks paying attention? All Things D— Mike Shields @digitalshields
Focusing on the Future: The premise of “Person of Interest,” one of CBS’s new fall dramas, is that a program that uses a complex algorithm that recognizes patterns occurring on computers around the world can predict the near future. That’s not too far off from the services a company called Recorded Future provides. The company looks at 100,000 Web pages an hour, scanning across 50,000 sources that include everything from Securities and Exchange Commission filings to Twitter comments in order to discern information about the future. Until recently, the company, which is funded in part by Google’s venture arm, provided hedge funds and investment banks with insights to the tune of $9000 per month. But now the company has begun selling a web-based version of its product for $149 per month. According to Quentin Harvey, author of this report in the Times, a look backwards and forwards turned up some eerily accurate connections from which some lucrative predictions might have emerged. NYT— Anne Sherber @annesherber
Labels Aren’t Happy With Spotify: Despite its growing popularity with users both in the U.S. and across Europe, Spotify is failing to satisfy some of its label partners, and over 200 have decided to pull their music from the service. Although the subscription-based streaming service argues its model encourages users to at least pay something for access to recorded music, as opposed to downloading it for free, the labels say revenues from it are poor, and suggest it’s having a detrimental effect on sales through other channels. Wired — Jack Marshalll @JackMarshall
The Washington Post invests in climate coverage as its team expands to over 30 journalists
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As Xandr shuts down its Clypd platform, datafuelX's M3 SaaS product aims to solve some of the multi-currency, multi-platform problems with investing in convergent TV today.


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LinkedIn Senior Product Manager, Liz Li, announced today that LinkedIn will be shutting down its short-form video service, Stories. This is a similar story that we saw last month where Twitter shut down its short-form video service, Fleets.
The Stories feature is only about a year old. It was introduced to the LinkedIn platform following in the successful footsteps of Snap, Instagram, and TikTok, but more attuned to the professional community to share “fun and casual” videos. Now, the plan for LinkedIn is to iterate the experience to be more conversational, versus disappearing.
The announcement states that the Stories service will be shutting down by the end of September. This leaves advertisers and agencies, with Stories as part of the mix, in a short timeframe to adjust campaigns and reimagine their experiences.
Li provides the following remarks as part of LinkedIn’s learning over the past year:
You wish videos could live on your profile, not disappear. In developing Stories, we assumed people wouldn’t want informal videos attached to their profile, and that ephemerality would reduce barriers that people feel about posting. Turns out, you want to create lasting videos that tell your professional story in a more personal way and that showcase both your personality and expertise.
You want more creative tools to make engaging videos. With Stories, members could use Stickers and “The Question of the Day” prompts to make videos more creative and engaging. But you want even more ways to spruce up those videos in a professional context, and you want to do so across LinkedIn.
With these two massive platforms shutting down their respective video services, it may show a shift in social media video engagement. For one, these videos disappear and may be a less impactful revenue opportunity with the professional community. But, more importantly, if there’s low usage, it makes it difficult to keep focusing on growth. Whereas Snap, Facebook/Instagram, and TikTok are enjoying significant success in video advertising within their short-form videos. TikTok’s advertising revenue was up 111% year-on-year in 2020.
LinkedIn may be pushing more efforts on its clubhouse competitor that it announced to TechCrunch earlier this year. That would fall in line with changing to longer-form rich media experiences.


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North American Safety Products today announced a deal with Guardomation, Inc that will provide improved customer service across the US.
North American Safety Products (NASP), headquartered in Mokena, IL, recently struck a deal with Guardomation which will extend their sales and service teams throughout the country and allow them to engage Guardomation’s team of installation professionals.
“Servicing our customers has always been our top priority,” commented James Pfeiffer, North American Safety Products CEO. “This relationship with Guardomation will allow us to be even more responsive to the needs of our customers – from sales through installation and support.”
NASP has experienced steady growth with expanded product and service offerings over recent years. They indicated that the need to quickly expand their team across the country, with experienced professionals, was critical to their continued success. As with NASP, Guardomation has been providing safety solutions to manufacturing and other industries for nearly 30 years. Both companies share a mission focused on safety and service.
“With manufacturing picking up again, and the need for increased safety measures in nearly all business sectors, we knew we had to find a partner that could complement our team and have an immediate impact,” added Pfeiffer. “Guardomation was the right choice for NASP.”
“We had already been representing NASP for a number of years. When Jim approached us about expanding the relationship we were excited to take part,” remarked Jeff Tannehill, Guardomation President. “The quality of their products and commitment to safety are unmatched.”
Pfeiffer noted that NASP will continue to develop new stock safety products and expand on their custom safety services. Their recent move to a larger facility was made to accommodate greater fabricating capabilities in response to requests for custom solutions. If something needs to be fabricated, NASP says they have the ability to engineer, manufacture and assemble – all right here in the USA.


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Economy Minister Edwina Hart has confirmed that Wales will extend the Welsh Government's Small Business Rates Relief Scheme for another year. The scheme benefits over 75% of businesses in Wales, many of which will pay no business rates in the next financial year. Businesses with a rateable value up to £6,000 receive 100% relief and the next tier up to £12,000 receive stepped relief from zero up to 100%. Small businesses in England were granted the same rate relief when the Chancellor read out his Autumn Statement in November.
Andrew West, Director of Rating comments: "This is good news for small businesses in Wales. However, the relief is being renewed on an annual basis which causes some uncertainty - businesses would prefer the certainty of a permanent relief to enable them to plan more than a year ahead. A permanent exemption from business rates for properties less than £15,000 RV is being promoted by many organisations representing small business, including RICS Wales, in the run up to the Welsh Government elections in May 2016."


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Container Crunch at South African Harbours Worsens
As many as 70 000 containers are estimated to be stranded on ships due to a huge backlog in Durban Harbour, KwaZulu Natal (KZN).
According to local media, more than 60 vessels are waiting to be offloaded, as of Monday 20 November. Transnet, the managing port authority, has estimated that it will take between seven to 15 weeks to clear the mass of ships.
On Friday, 17 November, the company told one news outlet that they had “deployed industrial engineers to maximise berth performance at the container terminals.” However, some experts have questioned whether they have the funds to fix the basic equipment.
Unfortunately, the matter isn’t only restricted to the port in Durban. The harbour in Cape Town, Western Cape is currently seeing a delay of two weeks to offload cargo, while trucks in Richards Bay, KZN have been queued up outside of a bulk storage depot due to unsafe road conditions.
With the festive season nearing, many pundits are concerned about the impact the delays will have on the economy, as exports that may have boosted trade are currently unable to leave the country.
International companies are also becoming frustrated with the impact on their business timelines and shipping dates.
Image Credit: Source


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A Publication of the National Association of Manufacturers
May 20, 2013
The manufacturing economy has hit some speed bumps, according to recent data. Industrial production declined 0.5 percent in April - more than expected - with capacity utilization levels back to where we were at the beginning of the year. The slower pace of domestic and global sales has negatively impacted activity, with production down mostly across-the-board. Only four of the 19 major manufacturing sectors experienced an increase in output for the month. Moreover, annual growth in manufacturing production of just 1.3 percent is insufficient, and such low rates of industrial growth are not enough to help boost hiring and output. Ideally, we would like to see annual output growth of 4.5 percent or greater, as outlined in the NAM's "20/20 Vision" earlier this year.
The national pullback in manufacturing activity extends to two of the regional manufacturing surveys released last week. Sentiment surveys from the New York and Philadelphia Federal Reserve Banks found contracting levels of new orders, shipments and the average workweek. In addition, manufacturers were more negative in their overall views of the current business environment. However, employment was mixed between the two reports, with a pickup in hiring reported in the Empire State survey, and manufacturers in both Fed districts were cautiously optimistic about future growth. As a result, capital investments are expected to increase in the coming months.
The Conference Board's Leading Economic Index - a forward-looking measure of the U.S. economy - rose a healthy 0.6 percent in April, with strong growth in housing permits. New residential permits exceeded the 1 million mark for the first time since June 2008, even as housing starts fell for the month. The long-term trend for the housing market remains positive, with permits data highlighting growth in future activity. Other good news can be seen in the latest University of Michigan consumer sentiment survey, with Americans reporting optimism levels not seen since mid-2007. Retail sales were also higher, even with declines in gasoline station spending due to lower petroleum costs.
Businesses and consumers continue to benefit from lower energy costs, according to the most recent inflation numbers. Core inflation - which excludes food and energy prices - is rising at less than 2 percent for consumers and producers, suggesting that pricing pressures have eased significantly over the past year. The 2 percent threshold is important, as that is the Federal Reserve Board's stated target for price increases. With inflation under control, at least for now, the Federal Open Market Committee feels free to pursue accommodative policies.
This week is a somewhat slower one on the economic front, with only a handful of key indicators being released. From the manufacturing perspective, we will be closely watching the Kansas City Federal Reserve Bank survey and the preliminary figures on durable goods orders, both of which will come out toward the end of the week. In addition, the Markit Flash purchasing managers' indices for the United States, Eurozone and China should provide some clues as to whether some of April's weaknesses have continued into May. Certainly, the European situation is not expected to improve (as we saw in last week's lower Eurozone GDP figure), but there should be modest growth in the U.S. and Chinese manufacturing activity reports.Chad Moutray
National Association of Manufacturers P.S.—If you have not already done so, please take a moment to complete the latest NAM/IndustryWeek Survey of Manufacturers. This 18-question survey is an important gauge to see how manufacturing sentiment might have changed since the last survey released in March. It also includes special questions on health care and the Affordable Care Act. To complete the survey, click here. Responses are due by Friday, May 31. As always, all responses are anonymous.
Conference Board Leading Indicators
At the same time, the Leading Economic Index also highlighted some of the current weaknesses in the economy, particularly for manufacturers. New orders and the average workweek of production workers were net drags on the index. Manufacturing employment has been quite sluggish of late, with hiring unchanged in April. In addition, while consumer confidence did improve in April, it remains subpar, pulling the index lower.
Meanwhile, the Coincident Economic Index - which measures the current climate - increased 0.1 percent in April. The higher figure resulted from stronger growth in nonfarm payrolls and personal income, with modest growth in new manufacturing sales. However, the 0.5 percent decline in industrial production in the month mitigated these increases. As such, softness in the manufacturing sector has dampened the U.S. economy, something we continue to see in a number of economic indicators.
Consumer Price Index
Gasoline prices fell 4.4 percent and 8.1 percent in March and April, respectively. On a year-over-year basis, gasoline costs were off 8.3 percent. These declines more than offset increases in electricity and natural gas.
Food prices were up a modest 0.2 percent, with the largest increases in cereals and baking products (up 0.6 percent) and meats, poultry, fish and eggs (up 0.4 percent). The cost of fruits and vegetables declined 1.4 percent, offsetting some past increases. Overall food costs continue to experience moderate gains, up 1.5 percent on an annual basis. This represents a slight pullback from December's 1.8 percent pace.
Core inflation, which excludes food and energy costs, remains in the acceptable range. The year-over-year pace is currently 1.7 percent, down from 1.9 percent in March and 2.0 percent in February. This is below the Federal Reserve Board's stated goal of 2.0 percent, enabling the Federal Open Market Committee to continue to pursue expansionary policies.
Housing Starts and Permits
The largest factor behind the decline in housing starts was the plummeting of multifamily housing starts, down from 398,000 in March to 243,000 in April. These declines appear to have taken place in all regions of the country except the Midwest. Multifamily starts nationally are now slightly lower than 12 months ago, reversing the healthy gains seen in recent months. Meanwhile, new single-family construction starts decreased less dramatically, down from 623,000 to 610,000. These losses were primarily in the South. The year-over-year pace for single-family starts is still quite impressive, up 20.8 percent.
At the same time, housing permits soared to 1,017,000 annualized units in April from 890,000 in March. The permits data are important because they serve as a proxy for future construction activity. The good news is that this is the first time housing permits have been above 1 million since June 2008 (when they were headed lower). The year-over-year growth in housing permits between April 2012 and April 2013 was a very healthy 35.8 percent.
The largest gainer for housing permits was the increase in multifamily unit activity, up from 291,000 to 400,000, its fastest pace since (not coincidently) June 2008. Single-family permitting rose from 599,000 to 617,000.
Overall, the data continue to show an upward trend in housing, even as the latest new starts data are discouraging. The fact that housing permits grew so strongly indicate that April's housing starts levels should be a temporary pullback, with slow but steady growth in the sector progressing forward. Housing starts should return to being more than 1 million units in the coming months, and this time, they will stay there.
Manufacturing capacity also fell, down from 78.3 percent in March to 77.8 percent in April. This brings the utilization rate back to where it was at year's end, erasing the capacity gains seen in the first four months of 2013.
Durable goods production fell 0.4 percent, whereas production in the nondurable goods industries fell 0.1 percent. Declining manufacturing activity levels were mostly across-the-board, with only four of the 19 major sectors experiencing a gain for the month. The four sectors with higher production in the month were plastics and rubber products (up 0.4 percent), chemicals (up 0.2 percent), computer and electronic products (up 0.2 percent) and food and beverages (up 0.2 percent).
The sectors with the largest declines were nonmetallic mineral products (down 1.7 percent), apparel and leather (down 1.6 percent), petroleum and coal products (down 1.5 percent), motor vehicle and parts (down 1.3 percent) and miscellaneous durable goods (down 1.1 percent).
This is yet another indication of how sluggish the manufacturing sector is right now. With exports barely growing and higher payroll taxes softening domestic sales, the manufacturing sector has still not emerged from the decline in activity that we began to see in the second half of last year. Uncertainties about the economy and the federal budget cuts continue to prevent manufacturers from making large gains to output and employment.
NAHB Housing Market Index
Optimism increased in each region of the country except for the West, and the indices for current and future potential sales of single-family homes rose. In fact, the index of expected single-family home sales in the next six months increased from 52 to 53, and it has been above 50 in eight of the past nine months. Values greater than 50 indicate that more respondents are positive than negative in their views.
NAHB Chief Economist David Crowe added, "While industry supply chains will take time to re-establish themselves following recession-related cutbacks, builders' views of current sales conditions have improved, and expectations for the future remain quite strong as consumers head back to the market in force."
New York Fed Manufacturing Survey
The index subcomponents tend to back this view up. New orders declined modestly on net, with its index down from 2.2 to -1.2. Other contracting figures included shipments (-0.02), unfilled orders (-6.8), delivery times (-3.4), inventories (-8.0) and the average workweek (-1.1). Pricing pressures eased somewhat for the month (down from 28.4 to 20.5), but still suggest decent growth. Nearly two-thirds of survey respondents, however, suggest that raw material prices had not changed during the past month.
Even as the average workweek was lower, manufacturers continue to hire, with its index down just modestly from 6.8 to 5.7. While 71.6 percent of respondents said that their employment levels had not changed in the past month, 17.1 percent noted increases, and 11.4 percent reported declines. Still, the net growth in hiring is somewhat surprising given the sluggishness of employment growth nationally and other weaknesses in the Empire State survey.
Cautious optimism in the forward-looking measures could explain continued hiring. Those manufacturers in the New York Fed's survey remain positive - albeit less so than last month - about increases in new orders, shipments, employment and capital spending plans. One-quarter of respondents plan to hire more workers, more than one-third expect to increase their capital investments, and nearly 40 percent anticipate higher sales.
NFIB Small Business Survey
This does not mean, however, that small businesses have moved beyond their challenges. Small businesses are growing strongly when the index exceeds 100, so we are still quite a way from that. The net percentage of business owners saying that the next three months were a good time to expand was unchanged at 4 percent. As with past reports, the top reasons cited for it not being a good time to expand were economic uncertainties and the political climate.
Small business capital spending plans were marginally lower, from 25 percent to 23 percent of respondents intending to make an expenditure in the next three to six months. While lower, the average for the first four months of 2013 (23.5 percent) is higher than the average for 2012 (22.2 percent), indicating a slight pickup in investment activity in 2013. Similarly, loan availability appears to show gradual improvements from last year and the years following the financial crisis.
Taxes were the most important problem, mentioned by 23 percent of those completing the survey (the same percentage as last month). This is almost certainly a reference to the higher marginal tax rates this year due to the fiscal cliff deal. Other top concerns were government regulations (21 percent) and poor sales (16 percent).
Philadelphia Fed Manufacturing Survey
The indices looking at current activity declined, indicating some sluggishness this month. The shipments index shifted from modest growth in April (9.1) to a modest contraction in May (-8.5). The percentage of respondents saying their shipments declined from the previous month increased from 18.8 percent in April to 32.4 percent in May. The average workweek, unfilled orders and delivery times were all negative, as well.
Manufacturers in the Philly region hired fewer workers in May. The employment index declined from -6.8 to -8.7. However, the index of expected employment six months from now rose from 8.2 to 10.0, suggesting that manufacturers plan to increase their hiring in the coming months.
Manufacturers in the Philly Fed region remain cautiously optimistic about the future. The general business activity measure for six months from now rose from 19.5 to 32.3. Almost 45 percent of respondents anticipate better economic conditions in the coming months, with 36.3 expecting them to be the same. Manufacturers are also planning for increased sales, shipments and capital spending in the second half of 2013.
Regarding inventories, 58.1 said that their stockpiles were about right for current economic conditions. Just more than one-quarter of them expect to decrease their inventories in the second quarter, with the forward-looking index for inventories contracting slightly.
Producer Price Index
Behind these figures, food and energy costs for the month were lower. Energy costs were down 2.5 percent in April, building on March's 3.4 percent decrease. The average price of West Texas Intermediate crude oil was $92.02 per barrel in April, down from $95.31 in February and $92.94 in March. This helped to reduce energy costs at both the finished and intermediate goods levels. Meanwhile, food prices were off 0.8 percent, offsetting the increase of the same amount the month before. Reduced meat and vegetable prices were largely responsible for this decrease.
Core producer prices, which exclude food and energy costs, at the finished goods level rose a modest 0.1 percent for April and were up 1.7 percent year-over-year. This number indicates that inflationary pressures remain below the Federal Reserve Board's stated target of 2 percent or less. This allows the Federal Open Market Committee to pursue highly accommodative policies to attempt to stimulate economic growth, such as it reiterated at its last meeting.
Raw material costs for the sector fell 0.2 percent in April, and producer prices were down 0.3 percent year-over-year. The petroleum and coal products sector saw the largest decline, down 1.7 percent for the month and 9.3 percent on an annual basis.
This is not to suggest that rising costs are not still an issue, as they are for some segments of the industry. On a year-over-year basis, the following sectors have grown the fastest: wood products (up 10.6 percent), nonmetallic mineral products (up 3.2 percent), food (up 2.5 percent) and beverages and tobacco (up 2.4 percent). At the opposite end of the spectrum, primary metals manufacturers have seen their input costs fall 6.0 percent over the past 12 months.
Outside of autos, retail sales dropped 0.1 percent. The largest drag on purchasing growth stemmed from gasoline station sales, which dropped 4.7 percent in April. This extends March's 3.2 percent loss, and year-over-year spending was down 4.6 percent. Lower gasoline prices largely contributed in reducing the amount.
When you exclude auto and gasoline station sales, retail purchases rose 0.6 percent. Businesses with increased sales in April included building materials (up 1.5 percent), nonstore retailers (up 1.4 percent), clothing and accessories (up 1.2 percent) and general merchandise stores (up 1.0 percent). At the same time, there were declines among food and beverage (down 0.8 percent) and health and personal care (down 0.1 percent) stores.
University of Michigan Consumer Sentiment
The gain in confidence was more than expected, with a consensus estimate of 78.0. Perceptions about the current and future economic environment improved, with the largest gains regarding present conditions. The index for the current situation increased from 89.9 to 97.5, whereas the forward-looking component moved from 67.8 to 74.8.
Surveys such as this one often rise and fall on pocketbook issues, and manufacturers tend to focus in particular on confidence indices to see if they might impact consumer behavior. The recent declines were in large part due to fiscal uncertainties, higher payroll taxes and persistent economic worries. These issues have not necessarily gone away, but Americans are more than likely reacting to lower energy costs, decent nonfarm payroll gains and modest growth in the U.S. economy. Earlier in the week, we did learn that retail sales - particularly when you exclude gasoline station spending - rose, a sign that consumers have picked up their purchases of late.
Questions or comments? Please contact Chad Moutray at firstname.lastname@example.org
Copyright © 2013 National Association of Manufacturers


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Yumchaa, the speciality tea concept, has opened its sixth café and teashop on Putney High Street.
Its first south of the river, the café serves more than 50 varieties of tea, from classic English breakfast to ’peanutbutter and jam’, a green tea blend with peanut brittle and strawberry.
The concept aims to give tea drinkers the same choice, quality and relaxed environment as speciality coffee drinkers are getting.
The Putney site is described as a modern take on a tearoom, with exposed brick walls, shabby chic furniture from vintage markets, and Alice in Wonderland style glass bottles to smell the different blends.
Managing Director Josh Mordecai said: “Tea is the most widely consumed beverage in the world after water. It’s time we did it justice!’
“The tea market is expanding worldwide at the expense of coffee, partly because people are becoming more aware of the health benefits of tea.”
Tea shop concept Yumchaa is refitting its flagship Camden store ahead of a concerted expansion push, MCA has learnt.
The group, which is backed by M&A banker Daniel Confino and former Glasgow Rangers Football Club finance director Brian Stockbridge, wants to grow to up to 13 by the end of 2107 and 40 overall.
Growth will concentrate on bricks and mortar sites, rather than stalls, of which it currently has five.


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On Tuesday, a Senate panel interviewed celebrity physician Dr. Mehmet Oz regarding his claims of various “miracle” weight loss cures, despite little scientific evidence of many of these claims. Senators criticized the physician during a hearing on false diet-product ads, saying Oz indirectly perpetuated ad scams by promoting the products on his television show, “The Dr. Oz Show.” Oz, a cardiothoracic surgeon, acknowledged that he featured products on his show but said that he never endorsed specific companies or brands. Oz insisted that he believes in the supplements, calling himself a “cheerleader” for his audience. According to a 2001 FTC consumer survey, there are more victims of fraudulent weight-loss products than any of the other specific frauds surveyed.
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Waterstones News Update: More Midnight Openings May Be Needed
Waterstones news updates: more midnight openings may be necessary following the announcement of the latest Haruki Murakami novel being translated to English.
Hakuri Murakami’s novels have been instant successes since he published his debut novel in the 1980s. This novel was titled Norwegian Wood and was one of the biggest novels of the decade, enticing readers and not relinquishing its grasp on them until they had finished the novel.
Newly published work by Murakami is now synonymous in Japan with pandemonium and record-breaking sales but his English speaking readers are rapidly growing and there is a demand growing for more and more of his novels to be published in the UK. When his last novel was published – 1Q84 – numerous Waterstones stores, across the country, opened their doors at midnight to supply the immediate demand for the novel.
His most recent novel ‘Colourless Tsukuru Tazaki and His Years of Pilgrimage’ focuses on the 36 year old protagonist, Tsukuru Tazaki and his journey through his personal trauma of rejection by his high school peers. The opening sentence may not be of the eye-catching, interest-grabbing punchy niche that so many authors endorse but it is scene-setting and sentimental and succinctly atmospheric: “From July of his sophomore year at college to January next year, Tsukuru Tazaki was living while mostly thinking about dying.”
Waterstones News Update
The novel was eagerly awaited in Japan and on the 12th of April this year access to any store with stock of the latest edition was nigh-on impossible due to the floods of keen-beans who couldn’t wait a second longer to get their hands on Murakami’s work. Since this date in early April, more than a million copies of the book have been sold across Japan.
Murakami’s publishers – Random House – have declined to confirm a date for publication of the book in English but they are aware of the demand over here in the west. With his archive of novels including Kafka on the Beach, The Wind-up Bird Chronicle and 1Q84 demanding the late openings of many Waterstones stores, they are unlikely to under-sell the information and it’s probably safe to say that the waiting readership will not have to wait much longer.
Those American readers will be pleased to hear however that Philip Gabriel of the University of Arizona has sat down to the task of translating the novel and is set to be released in 2014.
If you are interested in learning more about Waterstones, the books they stock and the special events that they hold when there is a particularly popular novel being released, contact the Waterstones customer service department.
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| Oct 18, 2013
| 2:57 PM
A day after announcing plans to raise prices in 2014, Chipotle Mexican Grill watched its stock surge in intra-day trading to an all-time high.
The stock reached $511.10 a share on Friday before closing up 16%, or $70.67, at $509.74.
| Oct 31, 2013
| 8:25 AM
If you ever want to know why Fort Lauderdale is so lovingly referred to as Fort Liquordale, hang out around the corner of Las Olas Boulevard and A1A late at night.
For more than 60 years, alcohol has been over-consumed at the two-story Elbo Room on...
| Jun 6, 2013
| 7:12 AM
Overall impression: Italio borrowed a page from Subway and Chipotle Mexican Grill when it came up with its create-your-own, cafeteria-line-style system of ordering pasta bowls, salad bowls and wraps. But instead of submarine sandwiches or burritos,...
| Jul 19, 2013
| 9:32 AM
Chipotle Mexican Grill Inc. is entering its 20s with another strong earnings report, a commitment to ditch genetically modified ingredients and an expanding Asian food concept.
In its second quarter, which ended June 30, the fast-casual chain and...
| Jan 6, 2014
| 5:55 PM
The slushies and skating carhops at Sonic Corp.'s drive-ins are a relative rarity in Los Angeles County, where 12 scattered units are overwhelmed by hundreds of McDonald's and dozens of Burger Kings.
But Sonic, based in Oklahoma City, hopes to become...
| Jan 21, 2014
| 9:26 AM
Q: My family loves the meatballs at Max's Harvest. I would like to surprise my mother-in-law and make them for her birthday dinner at the end of January. Do you think the chef would part with his recipe? — Nancy Lopez, Pompano Beach
| Nov 13, 2013
| 7:49 AM
99 SE Mizner Blvd., Boca Raton, 561-347-7000, Etoile-FrenchRestaurant.com
French restaurateur Herve Maestripieri and his Michelin-rated, classically trained chefs have arrived directly from the French Riviera to bring the essence of Saint-...
| Sep 26, 2013
| 5:11 PM
“The Scarecrow,” a short animated video put out by Chipotle Mexican Grill, seems part Pixar, part Tim Burton, accompanied by a creepily melancholy version of the song “Pure Imagination” from the first Willy Wonka movie.
| May 1, 2014
| 6:41 PM
Dick Portillo is ready to slow down a bit after 51 years in the hot dog business and thinks his namesake restaurant chain can continue to thrive in the right hands.
The Portillo Restaurant Group is looking for a potential buyer for the Portillo's chain,...
| Apr 8, 2014
| 8:02 AM
KFC parent Yum Brands Inc. is readying to launch an assault on chicken chain Chick-fil-A.
Quietly, Yum is opening a single-concept store in Arlington, Texas, on Wednesday that will sell a curated collection of chicken sandwiches, tenders, fries,...
| Apr 11, 2014
| 4:49 PM
The Glendale Galleria, which underwent a major renovation that was unveiled last fall, is gearing up to offer a slew of new stores and eateries in the coming months and news about what will take over the former Nordstrom space could come as early as May....


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Highlights from day two of AdAsia in Bali Thursday, with insight from Kaleidoko and a branding expert. Scroll down for day one highlights.
AI needs data lakes’
The promise of AI is well-known, but Dean Donaldson of Kaleidoko said there are still big issues with unleashing its potential. The biggest is the walled gardens in which our data online currently lives.
“I am yet...
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Chinese Tech billionaire, Jia Yueting is said to emulate Steve Jobs’ fashion sense and is also known to brag that his company has surpassed Apple in areas including design, craftsmanship, hardware and business models.
His company, Leshi Internet Information & Technology, which is involved in film production, “smart” TVs, video streaming, mobile phones, bicycles and more — has been called the “Netflix of China.”
Now 41-year-old Jia Yueting has earned himself another title, that of the ‘Chinese Elon Musk.’
Jia’s comparison to Musk is justified. Jia’s story sounds like the Chinese doppelgänger to Elon Musk’s. He was a young tech genius and at 41 years old has already taken at least two companies public.
Jia got his first tech job at age 22. According to Bloomberg, he was maintaining the internal network for a taxation office in Shanxi, a coal-producing province in the north of the People’s Republic. Jia’s time in taxation did not last long however, he quit in less than a year to found a tech consultancy.
In 2002, Jia founded a telecom startup, Sinotel Technologies. He took it public in only five years.
Jia’s current venture is Leshi Internet Information & Technology, a maker of web-enabled TVs. He started the buisness back in 2004 and took it public in 2010 – according to Bloomberg his 44 percent stake is worth about $2.3 billion.
Now, his sights are set on succeeding in the auto industry.
Making an electric vehicle “is our dream and passion,” he told Bloomberg. “Look at China’s skies, all responsible corporate citizens want to do something about it. This is the truth.”
Yueting announced his company’s plan for an “electric supercar” last year. At the time, he said they already had a team of more than 200 engineers working on the project in California.
In December, Jia revealed that Leshi had spent the year developing a plan to launch an electric car, one that will directly take on the Model S. His background has given him training in “managing disruptive change,” he said, and so taking on Tesla is well within Leshi’s range.
Jia seems to be getting some assistance from the Chinese government. According to The Motor Report, Beijing is saying it will give car manufacturing licenses to non-automobile companies like Leshi to cut down on China’s notoriously polluted air and encourage homegrown Tesla competitors.
The stakes are high. China remains the largest auto market in the world and despite a 7 per cent slow down in growth in 2014, it continues to get bigger. What is more, an estimated 17 million passenger vehicles were sold there in 2014.
The news of Jia taking on the EV market seems to represent a growing trend amongst the Chinese wealthy elite. Even if Jia’s model isn’t the success that it is hoped be, there are other companies in China wanting to build EVs. According to Bloomberg, Fisker owner Wanxiang is also applying for a manufacturing license, and it already has ties to the industry as an automotive parts supplier with over $23 billion in annual revenue.
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