text:
The Supreme Court has opened the door for states to require online retailers without a physical presence in the state to collect and remit taxes on sales to consumers within that state.
That came in a 5-4 decision in South Dakota v. Wayfair Inc. that reversed earlier Supreme Court precedent.
The High Court ruled that the reigning precedent (in Quill Corp. v. North Dakota, in particular) that a physical presence was required was "unsound and incorrect," and the Justices overturned a South Dakota State Supreme Court ruling that Quill was the controlling precedent and a South Dakota tax on online retailers with sales over $100,000 was unconstitutional.
"The Commerce Clause must not prefer interstate commerce only to the point where a merchant physically crosses state borders," the court ruled. "Rejecting the physical presence rule is necessary to ensure that artificial competitive advantages are not created by this Court’s precedents."
Chief Justice John Roberts was actually in the minority, and wrote the dissenting opinion joined by more liberal justices Stephen Breyer, Elena Kagan and Sonia Sotomayor.
Justice Anthony Kennedy wrote the opinion for the majority, joined by Clarence Thomas, Ruth Bader Ginsburg, Samuel Alito and Neil Gorsuch.
Pointing to online retailing, the majority said: "When the day-to-day functions of marketing and distribution in the modern economy are considered, it becomes evident that Quill’s physical presence rule is artificial, not just 'at its edges' but in its entirety. Modern e-commerce does not align analytically with a test that relies on the sort of physical presence defined in Quill. And the Court should not maintain a rule that ignores substantial virtual connections to the State."
The court suggested that arguing for the South Dakota tax not being an undue burden on commerce included that there is a safe harbor for those who transact less than $100,000 worth of business in the state, and the fact that the tax can't be applied retroactively.
States have been looking for ways to boost their coffers in tough economic times, including by taxing online retail sales in their states. The ruling also saw the physical presence requirement as a an "extraordinary imposition" on the Judiciary's and state's authority to collect taxes that support critical functions.
"By giving some online retailers an arbitrary advantage over their competitors who collect state sales taxes, Quill’s physical presence rule has limited States’ ability to seek long-term prosperity and has prevented market participants from competing on an even playing field."
In the dissent, Roberts said the decision on allowing those taxes was best left to Congress, which has yet to weigh in, though there have been legislative efforts to pass a bill allowing such state taxes.
"A good reason to leave these matters to Congress is that legislators may more directly consider the competing interests at stake," Roberts wrote. "Unlike this Court, Congress has the flexibility to address these questions in a wide variety of ways.
"The Court is of course correct that the Nation’s economy has changed dramatically since the time that Bellas Hess [a related precedential opinion also overturned] and Quill roamed the earth," he added. But since the Constitution gave Congress the power to regulate commerce among the states, "I would let Congress decide whether to depart from the physical-presence rule that has governed this area for half a century."
One member of Congress had already decided.
Rep. Suzan DelBene (D-Wash.) made the following statement shortly after the Supreme Court ruled in favor of allowing states to collect sales taxes on online purchases in South Dakota v. Wayfair, Inc.: “I am very pleased with the Supreme Court’s decision to abandon the outdated physical presence rule set by Quill, As in so many other areas, technology has evolved faster than the law and left us with at times bizarre, unfair results. This is a big win for local brick-and-mortar retailers, who will now get a chance to compete on a level playing field with out-of-state internet companies that have maintained an unfair edge by not collecting sales taxes. This decision will also help bring back millions of dollars in revenue for Washington state and communities across the country while allowing small businesses to expand and thrive.”
Democrats in Congress had tried without success to pass a national version of the tax, the Marketplace Fairness Act, that would allow states to collect taxes on goods and services purchased by their citizens without regard to where the seller of the goods was based.
One of the Democrats pushing hardest for such a law has been Senate Democratic Whip Dick Durbin (D-Ill.). “This is good news for main street businesses in Illinois and across America," he said. "This ruling clears the way for our retailers to compete on a level playing field with internet giants. I’m honored to be part of the bipartisan coalition in Congress that has worked for years to make this change."
He said his state could collect more than $380 million in new revenues thanks to the decision.
Broadcasting & Cable Newsletter
The smarter way to stay on top of broadcasting and cable industry. Sign up below
Contributing editor John Eggerton has been an editor and/or writer on media regulation, legislation and policy for over four decades, including covering the FCC, FTC, Congress, the major media trade associations, and the federal courts. In addition to Multichannel News and Broadcasting + Cable, his work has appeared in Radio World, TV Technology, TV Fax, This Week in Consumer Electronics, Variety and the Encyclopedia Britannica.


text:
Alibaba Chairman Seeking Chicago Business
Want to get a jump-start on upcoming deals? Meet the major Chicago players at one of our upcoming events!
With China’s economy showing signs of slowing, Alibaba Group Holdings founder/CEO Jack Ma is coming to America to encourage businesses to use his e-commerce web portal to reach China’s middle class, and Chicago is one of the cities in which Ma will make his pitch. Ma will meet with American Express CEO Ken Chenault and 300 business owners at a town hall-style meeting June 10. He also has a meeting planned with Mayor Rahm Emanuel, according to Crain’s Chicago. China’s economy is projected to grow at its slowest pace in 25 years, and Ma believes China’s middle class is an untapped market for American businesses. Rahm also sees exports to China as a source of job growth. [CC]

domain: news


text:
New rules require banks to contribute no more than 70 percent of the capital when providing loans through an online lending platform.
The CBIRC (China Banking and Insurance Regulatory Commission) has issued new rules to prevent risks associated with loans extended by commercial banks via third-party online platforms.
The regulator said the rules were being issued in response to problems encountered in the implementation of rules for commercial banks engaging in online lending activities issued in July 2020. Certain provisions have been tightened and align with draft rules issued in November 2020.
The new rules require banks to jointly contribute funds to issue internet loans through an online lending platform, where the proportion of capital from the platform provider in a loan should not be less than 30 percent – starting from 1 January 2022.
In addition, the balance of internet loans issued by a bank with one platform, including its related parties, must not exceed 25 percent of the bank’s net Tier 1 capital, and the balance of internet loans issued jointly by banks and cooperative institutions may not exceed 50 percent of the bank’s total balance.
The CBIRC said that the rules will facilitate commercial banks to appropriately disperse internet loan business, avoid the concentration risk created when relying on a single cooperative institution, and allow for the healthy development of banks’ internet loans business.
The rules also stipulate that local and regional banks may not extend online loans to borrowers outside of their operating regions, reflecting directions also issued by the PBOC (People’s Bank of China) earlier this month.
> ALSO READ: PBOC, CBIRC Restrict Online Sale of Deposit Products by Banks (19 Jan 2021)
The regulations have the effect of increasing the amount of capital that technology firms such as Ant Group, Tencent and JD.com will need to hold to offer loans via their online platforms.
As of 30 June, Ant Group has facilitated CNY 1.7 trillion in consumer loans to about 500 million borrowers through its Jiebei and Huabei units, however only about 2 percent of this has been kept on its balance sheet.
Breakingviews has calculated that the rules will require Ant Group to hold an extra CNY 87 billion in capital, based on its historical consumer loan volume.
“This will cramp Ant’s growth, and cut into a business that generated revenue of some CNY 29 billion in the first half of 2020, or 40 percent of its total.”
The new rules, available here, take effect on 17 July 2022.
The rules apply to commercial banks, foreign banks, trust firms, consumer finance companies and auto finance businesses.


text:
United Kingdom – 15 September, 2023 – Bypay, a trailblazing payment gateway provider, is at the forefront of transforming payment solutions for high-risk industries by offering specialized services tailored to their unique needs. In a business landscape fraught with fraud, chargebacks, and complex regulatory requirements, Bypay is the beacon of hope for enterprises seeking confidence and security in their financial operations.
High-risk industries, including replica goods, IPTV services, and online casinos, have long grappled with the challenge of finding a dependable payment processing partner that comprehends and addresses their specific requirements. Bypay has identified this gap in the market and has stepped up, providing a comprehensive suite of advanced features and services designed exclusively for high-risk businesses.
Key Features of Bypay’s Specialized Payment Gateway:
- Advanced Fraud Prevention: Bypay employs cutting-edge fraud prevention technologies that shield businesses from fraudulent transactions. Through real-time fraud monitoring and analysis, Bypay helps high-risk businesses minimize potential losses and maintain the integrity of their financial operations.
- High Chargeback Tolerance: High-risk industries often face elevated chargeback rates due to various factors. Bypay’s payment gateway is meticulously designed to withstand these challenges, ensuring that businesses can continue to process payments without unnecessary interruptions.
- Regulatory Compliance: Compliance with intricate regulatory standards is of paramount importance in high-risk industries. Bypay is dedicated to constructing a payment gateway that adheres rigorously to the most stringent compliance requirements, providing businesses with the assurance that they are conducting their operations within the bounds of the law.
By choosing Bypay as their trusted payment processing partner, high-risk businesses can enhance their financial capabilities and gain a competitive edge within their respective sectors. Bypay’s unwavering commitment to understanding the unique challenges faced by businesses in these sectors has positioned it as the go-to solution, empowering these enterprises to thrive even in the most demanding environments.
“In a world where high-risk industries have struggled to find tailored payment solutions, Bypay is committed to filling this void,” stated Bymden, CEO at Bypay. “Our specialized payment gateway is engineered to facilitate growth and success for high-risk businesses.”
In an era where high-risk industries require dedicated payment processing partners, Bypay shines as the beacon of hope, offering tailored solutions that cater to their distinct requirements.
For further information about Bypay’s specialized payment gateway and its benefits for high-risk industries, please visit :


text:
[PRESS RELEASE – 9th September 2021]
GoCrypto, a solution allowing merchants to accept cryptocurrencies, announced the integration of Binance Pay into the GoCrypto system giving crypto adopters more options to use crypto as the mainstream means of payment.
The GoCrypto solution, developed by Elly – a fully regulated company, is currently available in 64 countries, and is expanding to new markets. GoCrypto enables online and brick-and-mortar merchants to accept instant payments with various crypto wallets.
The integration of Binance Pay into the GoCrypto payment network enables millions of Binance app users to use 40+ Binance Pay-supported cryptocurrencies at thousands of GoCrypto locations worldwide.
As Elly’s CEO Dejan Roljic states:
“The interest in crypto use is growing daily, and our solution enables crypto adopters to use the currencies as they were intended – as a highly practical means of payment. The connection between our system and the users of Binance will bring crypto usability and adaptability further along. The integration of Binance Pay into the GoCrypto network means instant accessibility of GoCrypto locations to tens of millions of Binance users, and so much more. It is a strong sign of the digital era. Newer, better and faster payment options optimise the merchants’ costs and enhance their cash-flow.”
Changpeng “CZ” Zhao, CEO and co-founder at Binance commented:
“The ultimate goal of cryptocurrencies is to provide not just an alternative asset class for investors, but to provide alternatives to fiat currencies for everyday purchases. In partnering with GoCrypto, Binance Pay takes a step forwards in helping to bridge the gap between conventional financial systems and the crypto ecosystem making crypto adoption for payments significantly easier.”
Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings.
About Binance Pay
Binance Pay is a contactless, borderless and secure user-to-user cryptocurrency payment feature, which allows users to pay, send and receive crypto payments around the world without incurring any fees.


text:
Westin finds ‘last piece in puzzle’ with new man in Germany
Article Media Click images to enlarge +
Danish fishing tackle manufacturer Westin has completed its sales team in Germany and Austria with the appointment of Philipp Teichert.
The 25-year-old from Erfurt, central Germany, will cover the south of the country and a small part of the new federal states. Westin Country Manager Enrico Di Ventur said: “Having Philipp on board is a step in the right direction – it is like finding the last piece in a puzzle. It finally gives us the ability to serve all our German customers in an ideal way.”
Thomas Sanotra, Westin COO, added: “With Philipp on board we have created a complete team to serve the German and Austrian markets for years to come. These two countries have been among our key focus areas, but finding the right set-up with dedicated people that are in it for the long haul takes time.
“We now have four people on the ground and with our customer service in Denmark, we can serve all our customers in these two countries. Pre-season orders have been extraordinarily good and feedback on our new products have been ‘ecstatic’ so we are looking forward to the season kicking off.”


text:
Jignesh Shah's financial ecosystem
Virendra Verma October 23, 2009
As lines go, these could easily qualify as two of the more catchy ones amongst India Inc.’s surfeit of vision statements. But for Jignesh Shah, Co-founder of the Rs 500-crore Financial Technologies (FT) Group, those mantras are much more than beguiling buzzwords. The 42-year-old entrepreneur, who started out 15 years ago as a technology provider to stockbrokers and went on to start a commodities futures trading exchange which today does average daily trading volumes of Rs 22,000-23,000 crore and which has a virtual monopoly, is dead serious about his unique model for financial inclusion.
Along with 40-year-old Co-founder & Director (Technology) Dewang Neralla, Shah is determined to take the financial markets—across asset classes like equities, commodities, currencies and bonds—to the common man at an affordable cost. The business of exchanges will doubtless be the core of FT, but there’s more: Around that nucleus, Shah is almost fanatical about grabbing upstream and downstream opportunities that range from depositories and payment gateways to information vending—that’s Shah’s vision of what he terms a financial ecosystem created on a backbone of technology.
Shah’s dream is to offer data and transactions at the lowest possible price points in a manner similar to which sachets revolutionised the sale of shampoo in rural markets. At the other end of the spectrum, he is taking his exchange network overseas, riding on the front-end technology created in the late nineties.
“FT will seize the opportunity to widen, deepen, broaden and democratise the markets and drive financial inclusion,” says Ravi K. Sheth, Executive Director, The Great Eastern Shipping Company, and an investor in Financial Technologies (India) since 1999. “FT’s strategy is based on driving financial inclusion by reaching out to the bottom of the pyramid as this will drive future business,” adds Sanjeev Patkar, Director (Research), Dolat Capital, who has been tracking the company since 2003.
Let us see how this works. The starting point would, of course, be the commodities futures bourse, the Multi Commodity Exchange of India (MCX), where Shah is in a position to lower transaction charges, thanks to in-house low-cost technology.
From there, he moves on to providing farmers warehousing space for their output as well as credit, via the National Bulk Handling Corporation (NBHC).
Then there’s also the National Spot Exchange, a commodity exchange set up in 2008, which creates a common market at the national level. Shah is also using the increasing mobile phone penetration to provide realtime data and news information at affordable price points.
“Our objective is to empower the masses and enable them to utilise our services at an affordable price,” stresses the Chairman & CEO of the FT Group.
Shah’s vision—as he sees it, arguably a bit grandiosely—is to become the Toyota or Sony or Microsoft of the financial ecosystem. Shah wants to make FT an international name by doing what Toyota, Sony and Microsoft have done: Provide the best products at attractive prices.
To talk about FT in the same breadth as those global multinationals sounds downright heretical, but then Shah has always dreamt kingsize. After all, here is a man who went on from being an employee at an exchange to setting up one after years of mastering the technology that’s needed to run a bourse.
“Jignesh takes risk and finds opportunities where few think of looking,” says Nikunj Doshi, Senior Portfolio Manager, Envision Capital, who has been following FT since 2000.
Indeed, when the government invited corporates early in the decade to set up a commodity exchange, it was flooded with proposals from all the major stock exchanges and a heavyweight consortium comprising ICICI, NSE, NABARD and LIC (which eventually went on to set up NCDEX). Shah was the rank outsider.
Soon, predictably, Shah began looking beyond exchanges, but along the same value chain. In 2007, he started NBHC with India’s largest bank State Bank of India (SBI). NBHC was started as a warehouse for commodities traded on the MCX and National Spot Exchange—till Shah saw an opportunity to offer these facilities to farmers and small traders to store commodities. NBHC also, pretty innovatively, became a vehicle to facilitate credit from banks based on a farmer’s output.
“Banks lend to farmers only at the pre-harvest stage. But farmers also need a lot of bank support postharvest,” explains Anil K. Choudhary, Managing Director & CEO, NBHC, and a former banker with SBI. NBHC takes the entire responsibility of storage, maintaining the quality of the commodity, and verifying its value.
Here’s a closer look at NBHC in action: A farmer who wants to avail credit against grains or commodities informs NBHC, which, in turn, follows up with a little over 30 banks across India; the money is eventually transferred into the farmer’s bank account directly.
This makes good business sense for NBHC—last fiscal, it had net profits of Rs 9.5 crore on a turnover of Rs 104 crore. NBHC is now attempting to get locals to lease out their land for its warehouses, thereby reducing its investments. That’s helped the company ramp up to close to 3,000 warehouses in 1,000 locations in 18 states over the past two-and-a-half years. NBHC claims it has helped farmers avail of credit worth Rs 700-800 crore during this period.
NBHC got a boost last year when the Warehousing Act came into force. This enables warehousing receipts— those issued by NBHC against which farmers get bank credit—to be treated as negotiable instruments. This, in turn, enables farmers to sell their output on a commodity exchange rather than at the local market or mandi.
The upside for NBHC: It gets to charge—the farmer as well as the bank—for these services. It charges farmers 25 basis points and banks 25-75 basis points for the credit facility. Experts believe once the Warehousing Development & Regulatory Authority is in place, it will give a new thrust to the business of warehousing.
The National Spot Exchange complements the business of warehousing and warehousing receipts nicely. “There is a 5-6 per cent higher price realisation for some commodities through the spot exchange,” claims Anjani Sinha, MD & CEO, National Spot Exchange. A farmer sells the commodity on the electronic exchange and eliminates intermediaries like traders from the local spot market.
A hurdle for FT is the Agriculture Produce Market Committee (APMC) Act, which does not make a provision for electronic spot trading. The good news, though, is states like Maharashtra, Madhya Pradesh, Gujarat and Rajasthan have amended the Act to allow electronic spot trading (in Gujarat, 25-30 per cent of trading in certain commodities is through the exchange rather than the mandis).
More states are expected to follow suit. The FT Group has been doing its bit to point to the advantages of trading via its exchange. Through the spot exchange, for instance, it plans to bring more transparency in the spot bullion market by setting up Indian Bullion Market Association, a venture with various bullion traders. “India is always a ‘price taker’ rather than a ‘price setter’ despite being the biggest consumer of gold,” says Sinha.
The plan is to have a local reference price for the bullion and also sell gold and silver coins at a price that’s 10-15 per cent lower than what banks charges to individuals. For this, it has identified the refineries in India where such coins can be made and will soon start selling them.
Meantime, the FT Group is building on its key strength—in-house technology capabilities—to penetrate deeper with its information and transaction facilities. Group company atom technologies has developed a technology to help do banking and other financial transactions (like spot trading) via the mobile phone.
The same platform is being used to launch TickerPlant, a product that provides data and information services like weather reports, news, and commodity prices. “Eventually, the objective is to allow people to trade in various asset classes at a reasonable price,” says Neralla.
Even through its stock exchange venture, FT plans to reach out to farflung areas. The plan is to take the battle to the leader, National Stock Exchange (NSE). The NSE had operating profit margins of almost 75 per cent and a net profit margin of 50 per cent for the year ended March 2008 (which is the latest data available).
Analysts say if the MCX Stock Exchange is able to cut charges by half, it will still make money even as it eats into the NSE’s share. Another plan for the equity exchange is to have an exchange for the SME segment. “Our plan is to add better technology and service at a better price,” says Joseph Massey, MD & CEO, MCX Stock Exchange. It also plans to leverage on the reach of MCX and its over 2,000 members (the NSE has over 1,000 members).
Nikhil Vora, MD (Research), IDFC SSKI Securities, clubs Shah with pioneering entrepreneurs like Kishore Biyani (Future Group), Naresh Goyal (Jet Airways) and Subhash Chandra (Zee Group). But the difference ends with the vision. When it comes to execution, says Vora, Shah stands apart on the financial front—he hasn’t had to stretch his balance sheet to fund his growth binge, not yet at least. “In the past, FT has been able to grow on its own balance sheet and is currently sitting on net cash of $350 million,” he points out.
Shah may be pulling out all stops to get to the pyramid’s bottom, but that isn’t stopping him from spreading wings in his core business of exchanges. FT has zeroed in on Asia and Africa, where it will be setting up five exchanges of multiple asset classes. For example, the Singapore Mercantile Exchange will offer derivatives trading in multiple asset classes (the only other exchange is the SGX (Singapore Exchange), which offers trading in equity and equity-linked derivatives products. “Asia and Africa will be the fastest-growing regions for the next decade,” says Shah.
With 10 exchanges in India and outside, the long-term plan is to connect all of them and compete with the large global exchanges. Technology is not a worry for Shah; the biggest hurdle, however, is the regulatory environment. “Capital account convertibility is the biggest challenge,” shrugs Lamon Rutten, MD & CEO, MCX, which was set up in 2003. What works in Shah’s favour are the cost dynamics. “FT can set up an exchange at almost one-fifth of the cost international exchanges would incur—at between $5 million and $15 million,” says Vora of IDFC SSKI Securities.
So, can Shah pull off his grand game plan of building an international— and a unique—financial ecosystem? Aside from regulatory uncertainties, other risks in his model include the willingness of non-urban consumers to adopt and adapt to his technology; also, analysts point out that scaling up the warehousing business may prove tricky as FT penetrates deeper upcountry. Yet, Shah’s entrepreneurial endeavours just wouldn’t be the same without the risk element. What’s more, the risk-toreward equation has worked well in his favour—so far.


text:
Geoffrey Beene announces CoolGraySeven as branding and advertising agency
Men’s global lifestyle brand Geoffrey Beene has named CoolGraySeven as its product branding and advertising agency.
CoolGraySeven focuses on clients in the fashion, lifestyle, and luxury realm. It will be responsible for strengthening the company’s brand and developing a program of marketing communications beginning with a new campaign this fall.
G. Thompson Hutton, CEO of Geoffrey Beene, said: “In CoolGraySeven, Geoffrey Beene products have found a creative partner that recognizes and understands not only the rich heritage of the Geoffrey Beene brand but also its core mission-to improve people’s lives all over the world.”
Under the “Geoffrey Beene Gives Back” philanthropic program, 100 per cent of net profits of Geoffrey Beene, LLC fund causes such as the Geoffrey Beene Cancer Research Center at Memorial Sloan-Kettering Cancer Center.
Other clients of CoolGraySeven’s include Donna Karan’s Urban Zen and St. John Knits.
The latest marketing news and insights straight to your inbox.
Get the best of The Drum by choosing from a series of great email briefings, whether that’s daily news, weekly recaps or deep dives into media or creativity.Sign up


text:
BATAVIA, Ill. — Aldi plans to open more than 75 stores in 2009, including the discounter's first location in New York City, a spokeswoman for the chain told SN last week.
Aldi declined to identify specific locations, but said it was looking in the boroughs of Brooklyn, Queens or Staten Island to locate its first New York store. The location would be part of a four- to six-store expansion of the retailer's Center Valley, Pa., division during 2009, including a new store in Philadelphia, where Aldi currently operates five stores. The division currently has 47 locations in the Northeast.
Nationwide, Aldi expects to surpass the 1,000-store mark early this year, said the spokeswoman, Tina-Marie Adams.
“Of the at least 75 stores Aldi plans to open this year, a significant concentration will be in Central Florida, the Northeast, and Midwestern cities such as St. Louis,” Adams said. “More broadly, we'll continue to expand in the 29 states where we currently have a presence.”
The company is planning an expansion into Texas in 2010.


text:
Boston – Yesterday, the Federal Reserve Board, Federal Deposit Insurance Corp., Office of the Comptroller of the Currency, Consumer Financial Protection Bureau, and National Credit Union Administration released an Interagency Statement on the Use of Alternative Data in Credit Underwriting.
Chi Chi Wu, staff attorney at the National Consumer Law Center, issued the following statement about the banking regulators’ guidance:
“I am pleased to see that the bank regulators have taken a measured approach to alternative data, encouraging the use of the more promising forms, such as cash flow data, while cautioning about data that could present “greater consumer protection risks.” While the regulators do not identify what types of data could present these greater risks, in our opinion social media and Big Data are examples.
With alternative data, our mantra is the “devil is in the details” and the Interagency Statement appears to follow such an approach. For example, the Interagency Statement notes the benefits of using alternative data as part of a “Second Look” approach, i.e., only for applicants who cannot access credit, something we’ve supported as well because it does not affect consumers who are already considered creditworthy.
“The bank regulators’ focus on consumer protection laws, such as the Fair Credit Reporting Act, unfair and deceptive acts and practices statutes, and fair lending laws, is important, and we think the applicability of these laws should be stated in the strongest and clearest terms possible. Yet it is also important to encourage lenders to be open to the more promising forms of alternative data, such as cash flow, given how slow some of them have been to adopt even newer credit scoring models based on traditional credit reports so a nudge may be useful here.
“One issue that does need greater guidance is consumer control over alternative data, especially bank account transactions. The Interagency Statement notes that consumers can “expressly permission access to their cash flow data, which enhances transparency and consumers’ control over the data.” However, protections are necessary to ensure that such permission is not abused, i.e., that permission granted for credit underwriting is not later used for a purpose the consumer never intended, such as targeted marketing or debt collection.”


text:
Cheap flights won’t be coming back any time soon
It’s no surprise that airline prices for vacations should to skyrocket this year, but it also looks like those high prices are here to stay.
Tuesday, The Wall Street Journal reported that demand for flights continues to rise while supply suffers. Due to fuel prices, labor costs, and labor shortages, airlines are raising their prices and it doesn’t look like they will come down any time soon.
While some may have hoped flight prices would drop again after the holiday season, that doesn’t seem likely due to ongoing issues with fuel prices and labor costs and shortages that will be always present after the holidays.
CNBC said the outlook for 2023 flights is also bleak. The economic downturn plays a role in price movements, but there are also other factors involved.
United CEO Scott Kirby said during the company’s quarterly call, reported by CNBC, that the increase in demand was partly due to hybrid office work or fully remote work: “With hybrid work, every weekend could be a holiday weekend,” said Kirby. “That’s why September, a normally off-peak month, was the third strongest month in our history.”
If you plan to book summer flights for 2023, it might be best to do so as soon as possible, according to CNBC“Scott’s Cheap Flights founder (Scott) Keyes suggests travelers book as soon as possible, and even consider snagging deals for summer 2023 in Winter.”
Flexible travel schedules and early booking can help you get a better deal on your flight prices while it is unclear when flight prices will drop.


text:
Tory Burch sues little-known accessories company over 'counterfeit' jewelry bearing her double-T logo
Retail queen: Tory Burch is suing a little-known accessories company for allegedly copying her designs
Tory Burch is suing a little-known accessories company for allegedly copying her designs.
WWD reports that the fashion designer filed a lawsuit on Friday against Bluebell Accessories Inc, claiming that it was selling 'counterfeit' goods bearing her signature double-T logo.
The emblem, which appears on a range of Ms Burch's goods including ballet flats and handbags, has been a key part of her carefully cultivated multi-billion-dollar brand.
Bluebell, a New York-based wholesale company, has removed the offending items from its website, bluebellwholesale.com, however its owners have failed to provide information on who supplied them.
Ms Burch, 46, reportedly hired investigators to purchase an assortment of necklaces, earrings, rings, and bracelets from the Bluebell website for verification last fall.
When the 'unauthorized reproductions' arrived, her lawyers issued a cease-and-desist letter to Bluebell co-owners Jessica Min and Sung Ki Min.
In response the products were removed from sale.
However pertinent details to the case were not provided such as sale documentation and supplier lists.
Ms Burch is now suing Bluebell for an undisclosed sum, on the grounds of intellectual property infringement.
The long list of claims against the retailer include trademark counterfeiting, trademark and copyright infringement, false designation of origin and false descriptions, trademark dilution, unfair competition, and injury to business reputation.
It isn't the first time Ms Burch has taken a company to court over copyright issues.
Last December she filed a lawsuit against her ex-husband, Chris, claiming that he stole her trade secrets to establish his own brand, C. Wonder.
The New York Post reported that she was 'aghast' when Mr Burch opened his first store in SoHo last year, just blocks away from one of her boutiques, as it was 'stocked with mass-market versions of the top selling Tory Burch items'.
Spot the difference: Although this is not one of the offending designs, this necklace by Bluebell (left) uses similar colors and materials to the Tory Burch original (right)
A month earlier he had accused her of
attempting to sabotage his bid to sell his share of the company, which
is now valued at $2 billion.
The former couple, who founded the Tory Burch label in 2003, settled their legal dispute on New Year's Eve.
It was decided that Mr Burch, 59, would retain a stake in Tory Burch LLC, while two minority investors joined the business.
Most watched News videos
- Dead man is cut out of the stomach of a seven metre long PYTHON
- 13 year old has no idea he's talking to the voice of Bart Simpson
- The last moments of expert storm chaser Kelley Williamson
- Body cam shows moment before SWAT team shoots Reno Owens
- Thug appears to threaten a mother in angry rant at a restaurant
- President Trump rearranges items on a table
- Dramatic moment armed police make arrest in Birmingham
- Thirsssty much?: Rescued king cobra drinks water from a bottle
- Motorcyclist is very nearly sent flying when car pulls out
- Spooky footage appears to show baby's hand disappearing
- 11 wild elephants are rescued from a bomb crater in Cambodia
- 911 call: Man tells police he's shot two intruders with an AR-15


text:
Mulberry Group Plc posted a three-fold jump in full-year pretax profit as it attracted a large number of customers with a more affordable product range. Profit before tax rose to 6.2 million pounds for the year ended March 31, the company said on Thursday.
Mulberry, whose overseas business accounts for about 30 percent of its total revenue, said its international retail sales, including digital, were up 3 percent to 21.3 million pounds.
Mulberry has spent the past two year sprucing up its range and reconnecting with its lower-priced roots after a move to a more exclusive luxury position backfired, resulting in a 74 percent fall in full-year profit for the year ended 2015.
The company said total retail sales for the 11 weeks to June 11 were up 4 percent on a like-for-like basis and that it expected the rollout of its new Autumn Winter collection to be completed by August.
Mulberry, known for its classic leather bags, said full-year retail sales rose 8 percent to 118.7 million pounds, while total revenue rose 5 percent to 155.9 million pounds.


text:
SAN FRANCISCO, Jan. 12, 2017 /PRNewswire/ -- Shippo, the leading API platform for shipping, today announced they are the first to launch USPS ePostage for general access. Through USPS' new ePostage program, Shippo enables any business to access USPS shipping services online. This is the first license of this type issued since 1999, marking an important step for USPS and Shippo as they drive innovation in shipping for ecommerce businesses, marketplaces and platforms globally.
Shippo works with more than 10,000 businesses including fast-growing, venture-backed companies such as Mercari, Weebly, GoDaddy, Dia&Co and GOAT to help them solve shipping challenges and optimize their operations. The partnership represents a major growth opportunity for USPS as they take advantage of Shippo's technology to onboard more businesses directly to USPS with a fast and efficient method. Currently, established marketplaces such as Amazon and Etsy rely on ePostage for members of their own communities.
"When we founded Shippo, our goal was to improve the experience for any business who does shipping by making it more accessible," said Laura Behrens Wu, co-founder and CEO of Shippo. "Now with Shippo providing ePostage for public access, ecommerce businesses of any size can now directly connect with the USPS within minutes, and access valuable, timely information from a variety of other carriers, all from one place."
Ecommerce is the fastest growing trillion dollar market globally. In fact, global ecommerce has grown 15 percent year-over-year. With its rapid growth, shipping for online sales represents a significant business opportunity for the USPS. As the USPS sits high on the technology adoption curve, they recognize the need to work with leading and emerging technology companies to help them grow their digital and physical operations.
Through its current agreement, any Shippo customer can access the USPS directly, relying on a seamless and transparent process for shipping. Businesses of all sizes can sidestep the hurdles that often slow down their operations. This typically involves a heavy upfront investment of time and resources to integrate with carriers. By working with Shippo, customers gain instant access to multiple carriers, in addition to the USPS, through one integration. Today, Shippo supports over 20 shipping providers across North America, Europe, and Australia.
Shippo is the leading API and dashboard for shipping that empowers platforms, marketplaces, warehouses and ecommerce stores with the building blocks they need to succeed. The company processes millions of shipments per month for more than 10,000 businesses. With instant access to multiple shipping carriers for real-time rates, printing labels, automating international paperwork, tracking packages and facilitating returns, companies of all sizes trust Shippo to power their shipping. To learn more, visit goshippo.com.


text:
YUGA LABS WINS LAWSUIT AGAINST RYDER RIPPS AND JEREMY CAHEN
A California court has ruled in favor of Yuga Labs, creator of the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, in a lawsuit against conceptual artists Ryder Ripps and Jeremy Cahen for trademark infringement. Yuga Labs accused Ripps and Cahen of misusing BAYC trademarks to sell their own NFTs, which they called RR/BAYC. The court ruled that Yuga Labs was entitled to protect its trademark and that the RR/BAYC series didn’t qualify as artistic expression under the First Amendment.
ARTISTIC EXPRESSION VS. TRADEMARK INFRINGEMENT
In response to Yuga Labs’ allegations, Ripps and Cahen claimed that their project was a form of artistic expression. However, the court disagreed, stating that the RR/BAYC NFT collection was merely a collection of digital images that pointed to the same online images used by the official BAYC collection. The court noted that there was no critical commentary or artistic expression in the defendants’ sales or Ape Market website, and that the term ‘artistic expression’ did not apply to the RR/BAYC collection.
COPYRIGHT AND TRADEMARK LAWS VS. NFTS
Applying copyright and trademark laws to NFTs is somewhat uncharted territory, and Ripps and Cahen argued that Yuga Labs had transferred trademark rights to those who bought BAYC NFTs. However, the court cited Yuga Labs’ terms and conditions, which granted BAYC NFT holders a copyright license but not a trademark license to use the BAYC marks. The court also cited a recent copyright case involving the luxury fashion brand Hermès and unauthorized NFT creator MetaBirkins, which affirmed that trademark laws can apply even to intangible goods.
Ripps and Cahen also violated cybersquatting rules, which involve registering domain names similar to trademarked brands in the hope of profiting from them. The court noted that the rrbayc.com and apemarket.com domains created and used by the defendants were confusingly similar to Yuga Labs’ branding.
PAYMENT AND DAMAGES
The court concluded that Yuga Labs was entitled to damages but did not specify the amount, which will be determined in a later trial. It is unclear how much Ripps and Cahen will end up paying as a result of the lawsuit.
The ruling in favor of Yuga Labs affirms the importance of protecting trademarks in the fast-growing world of NFTs. It also clarifies that creators cannot simply claim artistic expression to avoid liability for trademark infringement. As the use of NFTs becomes more widespread, the legal landscape surrounding them will inevitably evolve. It remains to be seen how future cases will shape the relationship between NFTs and intellectual property rights.


text:
Ethiopia needs to use the best airlines in Africa (Ethiopian) to promote its beautiful tourism attractions as Mexico open to work with the country to promote the sector, Ambassador of Mexico to Ethiopia Victor Trevino said.
Recently, the government prioritizes the sector as one of the pillars of the economy for the country and has given due attention under the 10-year development plan.
Prime Minister Abiy Ahmed initiated “Dine for Nation” projects on Koysha, Wonchi, and Gorgora believed to inspire and transform Ethiopia’s tourism sector.
In an exclusive interview with ENA, Ambassador of Mexico to Ethiopia, Victor Trevino said Ethiopia and Mexico are very proud countries about their culture and history among others with long-term bondage.
Even though Mexico is too far in terms of geography, Mexico’s first embassy in the whole continent was established here in Ethiopia, he elaborated.
The longstanding friendship between the two nations goes back to 1936 when Mexico strongly condemned the Italian invasion of Ethiopia and supported its independence and status as a member of the League of Nations.
Alongside maintaining the importance of history, the traditions of the two nations, he said “we need to go further for the importance of the future. We need to pass these values to the younger generations and we need to increase our trade ties.”
The Ambassador stressed that increasing trade ties has to be one of the priorities of Ethiopia and Mexico.
“We import more than we export. For example the main import product of Ethiopia to Mexico is the sesame seeds and we export to Ethiopia some parts of agricultural machinery but we need to increase the trade ties further.”
In the near future, he added “we can increase the cooperation in the tourism sector as well. As partners, we must promote the tourism industry in Ethiopia.”
For the Ambassador, Ethiopia has beautiful sites, but unfortunately it is not even in the top five tourist receptionists in Africa even though you have the most important airlines in the continent to promote the sector and you have the beautiful places to visit.
The airline serves 131 international passenger and cargo destinations, including 63 African cities, with daily and multiple flights with a minimum layover in Addis.
The country has lots of cultural heritages, ethnographic attractions, traditional crafts, natural resources, natural beauty, the scenery, the landscapes, and the beautiful weather among others.
“You need more human resources to exploit the tourism resources and to promote it to the global community. We are open to work with Ethiopia to promote scholarships for people to study tourism,” he noted.
Praising the recent peace agreement in Ethiopia, the Ambassador stressed that peace is vital to attract more investment to Ethiopia in various sectors in general and in tourism in particular.
Ethiopia, which is the diplomatic capital of Africa, is known as “the land of origins,” where many important archaeological and paleontological milestones have been uncovered.
Source: Ethiopian News Agency


text:
After numerous rumours, Realme X official launch date is confirmed by Realme. The alleged flagship device is set to officially launch mid of this month in China. Realme has just confirmed the launch date through their official Weibo handle along with a teaser image.
Realme X launch date
The Realme X launch date is set for May 15th in China. While the official launch date for India is yet to be announced, we think it may not be too far away, considering Madhav Seth has been teasing about the device recently. We have already seen an alleged video of the device which confirms the Popup camera and notchless design of the phone.
Realme X Variants?
The teaser image seems to be shot using some ultra mode camera indicating the same on the upcoming device. Even though Realme has not indicated any details about the variants of the device, a listing on China e-commerce portal JD.com confirms the existence of a Lite / Youth variant of Realme X. JD.com listing indicates two variants i.e. the flagship and a Youth variant.
Rumours till date indicate that Realme X features a 6.4-inch Full HD+ OLED display, powered by Qualcomm Snapdragon 855 processor. An alleged device with model number RMX1901 is already certifiedRealme on TENAA that we assume is the upcoming flagship device from Realme reveals the design and specifications of the phone.
The Realme X is said to feature Dual rear cameras and is backed by a 3680 mAh battery that supports VOOC fast charging. The phone will be equipped with an in-display fingerprint scanner.
Realme X specs (Rumoured)
- Display: 6.4-inch Full HD+ OLED
- Processor: Qualcomm Snapdragon 855
- Selfie-Camera: Pop-up camera
- Rear Cameras: Dual lenses, LED Flash
- Battery: 3680mAh, VOOC fast charging
- Security: In-display fingerprint scanner
- Dimensions: 161.2 × 76 × 9.4mm
- Model Number: RMX1901
At the moment not much is known about the pricing of the phone, but rumours indicate it to be priced under Rs. 30,000 when it launches in India. Stay tuned at Androidpure and we will keep you updated.,


text:
The Executive Vice President and CEO of Meliá, Gabriel Escarrer made the decision to eliminate single-use plastics from its entire value chain.
Meliá Hotels International was founded in 1956 in Palma de Mallorca, Spain. This is one of the largest hotel companies in the world and the largest hotel chain in Spain in both resort and city hotels. The company currently operates more than 370 hotels in 43 countries and 4 continents under its brands including Meliá, Gran Meliá, ME by Meliá, Paradisus, Innside by Meliá, TRYP by Wyndham, Sol Hotels and Club Meliá.
In 2017 alone, more than 22 million plastic bottles were consumed by the Meliá hotels. So, the company decided to raise awareness about the combatting climate change and reducing emissions to almost 30 million customers who stay in company hotels every year..
Gran Meliá Maldives, scheduled to open soon is located in Kalhudhiyafushi in Thaa Atoll, which will also follow to eliminate the single-use plastics in their Island Resort.
The CEO of Meliá, Gabriel Escarrer firmly believes in the fundamental role that companies must play in contributing to the achievement of the 17 Sustainable Development Goals of the United Nations, and affirmed that “the business world, institutions, and society, in general, have to get involved and work together in combatting climate change and tackling other major global challenges.”
Further steps taken by Meliá to fight against climate change is replacing bottles, cups, bags, straws, and coasters with biodegradable or environmentally-friendly alternatives before the end of 2018. This would eliminate more than 15 tonnes of CO2 emissions generated each year by waste disposal


text:
- Subscribe NowLimited Time Offer
Sign Up for the Dayton Business Journal Afternoon Edition Newsletter
Send this story to a friend
Facebook dominates time spent on social media
- DBJ Staff
But deciding where to focus energies and resources can be daunting, since the social media landscape continues to evolve.
In terms of time spent on social media sites, Facebook remains king. Americans spent 83 percent of their time using social media on Facebook, according to December figures from Comscore.
Next up was Tumblr.com, which captured 5.7 percent of their time, followed by Pinterest (1.9 percent), Twitter (1.7 percent) and LinkedIn (1.4 percent).
Despite rising numbers, many in the business community remain skeptical on social media.
A recent DBJ poll asked "How do you feel about social media as a business tool?" and only 29 percent of respondents said they’re a committed, true believer. A total of 62 percent questioned its returns, with 44 percent saying they dabble, but are unsure of the payoff, and 18 percent convinced it’s just a fad with little or no return.
- Most popular
- Dayton's Top 100 people in aerospace and defense
- 20 top-rated Dayton-area restaurants on Yelp
- Dayton maker of artistic concrete products opens new site
- Which are Ohio’s wealthiest families?
- New Tex-Mex restaurant to open in Austin Landing
- Dorothy Lane Market takes over in-store Boston Stokers
- LeBron James to return to Cleveland and play for Cavaliers
- Redevelopment company to flip two more Dayton eyesores
- Three Ohio colleges among most expensive private institutions
- Miami County manufacturer expands with move to Vandalia
Outside Sales Abrasive Technology | Lewis Center, OH
Administrative Director Ohio Wesleyan University | Delaware, OH
Lecturer in Management University of Dayton | Dayton, OH
Direct Support Staff (Residential) ResCare | Dayton, OH
Retail Sales Teammate Firestone Complete Auto Care | Dayton, OH


text:
July 7, 2011
German automaker Mercedes-Benz is highlighting the company's 125-year anniversary by partnering with local charities and organizations to accomplish an ultimate goal of 125 social actions.
The automaker partnered with New City Kids, volunteering time and donating money to benefit children in Jersey City, NJ. However, the jury is out on the concept of 125 acts of charity to mark a brand anniversary, according to one expert.
“When you have something as abstract and disjointed as the number 125 as the only connection, it’s really difficult for the audience to connect the dots and see the relevance and see the benefits of the sponsorship,” said Rob Frankel, branding expert at branding consultancy Frankel and Anderson, Los Angeles.
“It doesn’t make sense,” he said. “It looks more like a celebration of the number 125 and the problem is that it’s not connected to the Mercedes-Benz brand strategy and so there is no real rhyme or reason for these 125 events.”
Mr. Frankel is not affiliated with Mercedes-Benz, but agreed to comment as an industry expert.
Mercedes-Benz did not respond by press deadline.
Mercedes-Benz employees recently donated their time and money to help create a better environment for children living in Jersey City.
The employees created a community garden and installed a mural at the New City Kids facility. They also built an outdoor shed, put shelves in the basement and helped to paint, clean and organize the inner-city location.
In addition to volunteering their time, Mercedes-Benz and its employees donated about $20,000 in funds and supplies to the organization.
Members of New City Kids are also going to have the opportunity to take a field-trip to the Mercedes-Benz USA corporate headquarters in Montvale, NJ, as part of an educational experience in the near future.
For the project, the car manufacturer also partnered with two local organizations, Bergen Communities United and the Jersey City Episcopal community development corporation.
The revamping of the facilities comes just in time as the New City Kids organization hosts a summer camp for children that began July 5.
On the brandwagon
The New City Kids initiative is the first of many volunteering and donation-based activities that Mercedes-Benz has taken part in this year.
For example, last month, it teamed up with loyal enthusiasts in California to celebrate the Gull Wing group’s anniversary, and donated 125 scholarships to the San Francisco Recreation and Park Department’s educational summer camp (see story).
In April, the company teamed up with polo equipment and manufacturer La Martina to create polo shirts to benefit the Big Brothers Big Sisters group of Miami.
This also follows a growing trend of increased corporate responsibility among luxury brands.
For instance, Kiehl’s is celebrating its 160-year anniversary by donating $160,000 to educational, environmental and HIV-research programs (see story).
However, simply picking a charity and donating money is not enough for brands that truly want to enter into the social corporate responsibility field, per Mr. Frankel.
The chosen charities also do not help brand marketing effort unless they somehow align with the brand's core values and appear to be an organic fit.
“Brands have to create these programs after thinking about who they are and what is a natural fit so that people understand and accept why they are involved in this,” Mr. Frankel said.
“I would like to see major brands recognize that these types of programs shouldn’t be hooked into fads," he said. " It is a brand s responsibility to lead and not to follow.”
“But unfortunately just about every brand out there is following the trend right now.”
Kayla Hutzler, editorial assistant on Luxury Daily, New York


text:
The Government's electronic manufacturing policy, which is still in its implementation stage, has hit a bump with differences cropping between the... ...http://www.thehindubusinessline.com/features/smartbuy/tech-news/dot-cell-raises-concerns-over-electronic-development-fund/article6258564.ece?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication
The looming threat of price regulations and increasing manpower costs forced Bafna Pharmaceuticals to look for a partner to continue its India... ...http://www.thehindubusinessline.com/companies/high-manpower-costs-expanding-price-control-forced-bafna-deal/article6258550.ece?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication
PRWeb 2014-07-28 Software training firm Infinite Skills Inc. releases its Carrara - Realism Rendering Tutorial, a 4 hour specialized course... ...http://www.bizwireexpress.com/showstoryPRWeb.php?storyid=263942
There is no question that the country being one of the largest producers of agricultural commodities deserves at least one modern food market... ...http://www.thehindubusinessline.com/markets/commodities/why-we-need-a-rungis-market-in-india/article6258518.ece?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication
Union Shipping Minister Nitin Gadkari Monday announced an ambitious plan to double the capacity of 12 major Indian ports from the current 800... ...http://www.siasat.com/english/news/indian-ports-capacity-be-doubled-five-years-gadkari
Personalised attention and...
Raj Automobiles was established in...


text:
(Pocket-lint) - Microsoft has announced that it is dropping the amount of storage each of its OneDrive subscribers gets either for free or as part of Office 365 home membership.
Users who have a free OneDrive account will find their storage limit dropped from 15GB to 5GB, with the changes to be enforced from early 2016. In addition, the 15GB camera roll storage bonus will be dropped entirely.
On the up side, you'll still be able to access any files over the new 5GB limit for a year after the change has been made and you'll get a year's free subscription to Office 365 Personal, which includes 1TB of storage.
Those who want to pay for OneDrive storage will also find the existing plans are changing. From 2016, there will no longer be 100GB and 200GB options for new subscribers. Instead, Microsoft is simplifying its subscription options to just offer one 50GB plan for $1.99 a month.
If you already subscribe to 100GB or 200GB plans, you can continue to use them without penalty.
And those lucky enough to have actually received the unlimited OneDrive storage that was being rolled out to Office 365 Home, Personal or University subscribers will find their accounts capped, once again, at 1TB.
To be honest, that won't affect everybody as Microsoft hadn't finished the unlimited upgrade rollout anyway. Indeed, many Office 365 subscribers we have asked had theirs capped at 1TB still.
This comes into effect immediately and those affected in this category have a year to clear their accounts of files over the 1TB limit.
The changes, Microsoft claims, have been enforced thanks to some customers using the unlimited storage option to back up their entire PCs or store entire movie collections. In some cases, it says, this exceeded 75TB per user - a staggering amount.


text:
Coronavirus epidemic has led to an increase in drug prices. Moreover, there may be a global shortage of some important drugs.
Thus India has restricted exports of 26 ingredients and the medicines made from them, BBC reported.
The list includes several antibiotics, such as tinidazole and erythromycin, the hormone progesterone and Vitamin B12. India relies on China for almost 70% of the active ingredients in their medicines. Industry experts have warned they may face shortages if the epidemic continues.
"There are already signs that the reduction in supply to India has pushed up prices there considerably,” Oxford Economics' lead economist Stephen Foreman told the BBC.


text: Mobile phone giant Samsung has started production in Pakistan, getting hopes of both the authorities and the industry high that the move would scale down Pakistan’s import bill in the near future. The news came on Tuesday during a meeting of the company’s top executives with Senators who had come to the factory to learn more about the fast-growing sector and the challenges that lie ahead for Pakistan’s mobile manufacturing business. As per Pakistan Telecommunication Authority (PTA) data, production of mobile phones by local manufacturing plants has almost doubled to 18.87 million against the import of mobile phones which stood at 45 million during the first 10 months of the current year. However, despite the increase in local production of mobile phones, the import remained on a higher side. The PTA data says that mobile phones worth $644.673m were imported during the first four months (July-October) of 2021 compared to $557.961m during the same period of last year, registering a growth of 15.54 per cent. Quoting an official from Samsung’s partner company Lucky Group in Pakistan, the report states that with production of around 250,000 to 300,000, the aim is to produce around 3 million cellphones every year. Moreover, the official also hailed the massive opportunities the development brings in the form of employment, investment, export opportunities and local capacity building.


text:
Posted: Mon 10th Apr 2023
Small businesses are bracing themselves ahead of the new tax year as the penny drops on the real impact of the Spring Budget.
A new analysis commissioned by small business support platform Enterprise Nation, found that businesses could see annual tax bills increase by around £9,000 for the bigger earners from this month.
The figures show that for firms who make a profit of £200,000, tax bills will climb from £39,723 to £49,361 compared to the 2022/23 tax year.
With a £150,000 profit, total tax take could rise by as much as £5,888 for a company with two company directors taking a salary of £11,908 each.
The new tax regime was announced along with the confirmation of the end of the 50 per cent energy relief scheme and Research & Development Tax Credits reform.
Emma Jones, CBE, founder of Enterprise Nation, said: "Rather than focusing on creating jobs and growing, small businesses will be distracted by having to juggle their tax affairs.
"They will feel these incremental rises hit their pocket at a time when they are paying out more for salaries, goods and services than ever before - and on top of that, they will also see the removal of existing support for energy and innovation.
"Entrepreneurs already invest their own money into their businesses, at their own risk. As the tax reality of the Budget bites, we see that in some instances businesses will be paying out 26.5 per cent in Corporation Tax alone and seeing chunks of hard-earned cash swallowed by the state."
The analysis looked at different levels of profit and compared the tax take for a business based on amounts directors take out of the business in dividends.
The comparison found a business with a profit of £50,000, in 2023/24 would see hardly any difference from 2022/23, partly because Corporation Tax remains at the same level.
They also get a little a light relief because the 1.25 per cent rise in National Insurance that kicked in last year, has been reversed.
But when businesses reach £100,000 in profit, the increases take hold. For example, a director that takes a salary of £12,570, plus dividends could pay an extra £1,950 in tax compared to last year.
Paula Tomlinson, founder of On the Spot Accountants, who crunched the numbers for this analysis, said: "We are seeing absolute tax levels increasing from 20% to 24% in some circumstances. We are not talking about extremely rich people here. We're talking about people who work all day every day, at their own risk.
"There are of course optimal mixes that can help to mitigate some of this, but that will require action and a pro-active approach with an accountant to understand solutions based on each business's needs."
At the Spring Budget, Chancellor Jeremy Hunt confirmed Corporation tax increases from 19% to 25% for businesses with profits over £250,000 from April 1, with businesses with profits below £50,000 paying a 19% small profits rate. Businesses with profits between £50,000 and £250,000 will pay the main rate reduced by a marginal relief which provides a gradual increase in the effective corporation tax rate. But the sliding scale will see some businesses paying more than 26 per cent on profits above £50,000.
April also sees changes to R&D Tax Credits, which The Coalition for a Digital Economy (COADEC) calculated could see tech start-ups lose up to £100,000 a year in savings.
Businesses can connect with a tax accountant on the Enterprise Nation platform. Joining Enterprise Nation as a member is free.
Enterprise Nation is a business support platform and provider delivering support to more than 700,000 small businesses every year in the UK and Ireland. Each month 65,000 businesses visit the platform. Its aim is to help people turn their good ideas into great businesses -- through on-demand access to expert advice, e-learning, events, acceleration support and networking.
Enterprise Nation was founded in 2005 by British entrepreneur Emma Jones CBE, also co-founder of national enterprise campaign StartUp Britain. She is author of best-selling business books and is a frequently called-on and regular media commentator on a range of issues which affect the UK's growing number of SMEs. https://www.enterprisenation.com/


text:
The Finance Ministry recently issued a statement warning against investing in bitcoin and other cryptocurrencies (CCs). Likening CCs to ‘Ponzi schemes’, it linked them to terror-funding, smuggling, drug-trafficking, and money-laundering. The stern advisory came after three other warnings issued by the Reserve Bank of India.
Why the distrust?
Two aspects of the bitcoin phenomenon have attracted great interest: the challenge it poses to states and central banks; and the potential of its underlying technology to unleash a new wave of creative destruction.
It would be safe to say that the world’s top central bankers have finally realised the futility of trying to control CCs. They are preparing to join them — by issuing their own Central Bank Digital Currency (CBDCs).
A CBDC is a complex tool whose functionality is still being researched. But there is one flaw endemic to any CBDC: the contradiction between the centralising tendency of a CBDC and the decentralising technology that underpins cryptocurrencies. What economists conveniently forget when discussing CCs such as bitcoin is the trigger for it: distrust of bankers.
The global financial crisis of 2008-09 raised a simple question: what option do people have if banks are not to be trusted? A man (or a group of people) named Satoshi Nakamoto provided an answer: a peer-to-peer, ‘trustless’ electronic cash system based on a technology called blockchain.
Why is it attractive?
In order to be functional, a virtual currency must solve the problem of double spending. Given that anything digital can be copied, how do you prevent someone from spending the same unit of currency twice? Today’s cashless economy tackles this through a centralised ledger maintained by a ‘trusted’ intermediary — often a bank — on its own servers. But as per the definition of the problem, banks can’t be trusted, remember?
Nakamoto solved the double spending problem by designing a decentralised ledger that bundles data about transactions into blocks, timestamps them, and links each new block of transactions with the previous one in an immutable chain of blocks that are copied, authenticated, and updated continuously, and publicly, on thousands of computers — the blockchain.
The blockchain uses economic incentives (payment in the form of bitcoins or other CCs) to motivate members of the network to do the work of validating every transaction. It does away with the bank’s role as an intermediary, and this is what differentiates CCs from (the digital version of) fiat currencies.
Not surprisingly, central banks and states are not pleased to have the rug of the cashless economy — with which they’ve been smothering ordinary citizens — pulled from under their feet by a technology that regards them with disdain.
It has been pointed out that bitcoins, unlike a stock or a bond, are a purely speculative asset untethered to a material basis of value. While this is somewhat true, it doesn’t explain why bitcoins continue to remain attractive as a store of value. A major reason seasoned speculators find bitcoins irresistible is its deflationary nature, which makes it inflation-proof. Since there can only ever be 21 million bitcoins, unlike a fiat currency, it cannot suffer a loss in value due to inflation.
In this regard, cryptocurrencies such as bitcoin may herald the next stage of neo-liberal economics: the privatisation of currency and disciplining of the state (no more quantitative easing!) by reducing the fiat currency into one of many competing currencies.
In theory, the state still has a trump card: it decides the currency in which taxes are paid. But that may mean little in a scenario where the political apparatus has been captured by finance capital, which is increasingly the norm in democracies where unknown donors contribute astronomical sums to political parties.
Amid all the frenzy over bitcoin’s rocketing values, it is easy to forget that it is just one version of one application (cryptocurrency) of a new technology (blockchain). In some ways, the present moment is analogous to the early days of the Internet, when Hotmail was an exciting new discovery and the Internet was synonymous with email.
Coinmarketcap.com, a website that tracks the market capitalisation of cryptocurrencies, lists 1,379 currencies. Away from the hysteria around bitcoin, lesser known cryptocurrencies such as Omisego, TRON, Golem, and Storj are attracting investments that are helping to set up an entire decentralised ecosystem and payments infrastructure on blockchain platforms that could radically transform the way businesses transact with each other.
The fundamental value proposition of the blockchain is that it eliminates the need for trust — a commodity without which exchanges of value (transactions) cannot happen. This means that individuals and businesses can do away with a whole bunch of intermediaries whom they pay for managing trust.
For instance, on Ethereum, a blockchain platform that calls itself “the android of the cryptocurrency world,” you can set up an application that enables people to rent out idle storage space on their laptop. Someone who needs cloud storage can pay you directly, instead of paying Amazon, a leading cloud storage intermediary. You could thus monetise a resource that you didn’t even know you had. Well, Storj is an application that does precisely that, and it already enjoys a market cap of $298 million. Ethereum, too, is listed on cryptocurrency exchanges, and it is worth $112 billion, not far behind bitcoin’s market capitalisation of $259 billion.
Programmable money is another example of a decentralised blockchain-based application. Since digital currencies are software programs, one can program a particular CC such that, say, it cannot be used to buy the product of a company that uses sweat shop labour.
Two domains that would gain immensely from blockchain applications and CCs are Artificial Intelligence and Internet of Things (IoT), since in an IoT world, thousands of devices would need to rapidly and seamlessly transact with each other in real time, without the devices’ owners having to dig into their wallets every time.
Given the enormous scope for increased efficiency and cost-saving, it is not inconceivable that in the medium term, the biggest threat to businesses in the finance and digital space will come from the blockchain versions of themselves.
Of course, as happened in the early days of the Internet, some of the claims being made about blockchain are plain silly. It is true that the technology’s peer-to-peer orientation renders it more democratic. But it is not about to usher in a socialist paradise. Even the World Wide Web was supposed to be a decentralised, democratic space where everyone was equal. We all know how that turned out.
Clearly, technological innovations cannot substitute for the hard job of reducing socio-economic disparities through political mobilisation. If blockchain is getting traction, it is because it works with, rather than against, market logic.
It so happens that right now any technology that drives decentralisation also carries some political promise by virtue of challenging the centralising tendency of power. But that is a byproduct, and not to be confused with its intent, which remains the same as with any other IT innovation of recent times: efficiency and profit.


text:
Target announced on Monday that Gregg Steinhafel, the retailer’s
CEO, president and
chairman, was resigning effective immediately. The move comes
five months after Target suffered one of the worst security breaches in
the nation’s history, resulting
in the theft of payment or personal data from between 40 million and 110 million customers. “The last several months have tested Target in unprecedented ways,” Steinhafel wrote in a letter to the company’s board of directors. “From the beginning, I have been committed to ensuring Target emerges from the data breach a better
several key milestones behind us, now is the right time for new leadership at Target.”
Steinhafel’s resignation comes two months after the company’s chief information officer Beth Jacob resigned in the wake of the breach. Target CFO John Mulligan will serve as interim president and CEO until the board appoints a new CEO.
The retailer first divulged on Dec. 18 that it had been the target of a several-weeks long hack that saw thieves
make off with the credit card data of up to 40 million of its customers. But things got worse a few weeks later when the company acknowledged that an additional 70 million shopper accounts had personal contact information pilfered.


text:
Thomson Directories has been put up for sale by its Italian owner
Thomson Directories, the classified telephone-directory publisher that competes with Yell and BT, has been put up for sale by its Italian owner, Seat Pagine Gialle.
Seat, which is listed in Milan but controlled by four private-equity firms including CVC, will also sell off its German arm and a handful of websites to concentrate on operations in Italy and Turkey.
Thomson, which has been hit by competition from the web and reduced spending by financial clients, is expected to achieve earnings of £25m this year and could change hands for £100m.
Seat failed to pay a dividend in March and blamed its UK arm for contributing to the lowering of group expectations.
Apax paid £220m for the company in 1999, selling it on to Seat little


text:
Amazon likely to make its presence in Inorbit mall’s prime commercial space
Amazon, one of the leading e-commerce marketplaces might get to acquire the prime commercial space in Inorbit mall of Pune, which has been vacated by nearly all the brands it had, as per the source.
Amazon has not confirmed the news neither has it denied about the development but it is heard that the space is believed to be used for expanding its IT and customer service operations.
All the existing brands in the mall, barring three have already either relocated or shut down their operations. Report says that of the three, which are still operating is Shoppers Stop and Hypercity comes under in-house brands of K Raheja Corp, the entity that owns Inorbit. They will also move out within a month. The third one, apparel store Max, will relocate by the end of next week. The four-screen multiplex, PVR Cinemas, and the food court on the third floor will continue operations for now.
Rajneesh Mahajan, Executive Director, Inorbit Malls, said, "The city has witnessed an oversupply of retail real estate space in one micro-catchment (eastern corridor) wherein 74% out of the current 7 million retail real estate space of the city is located. This has resulted in an oversupply leading to a division in consumption and hence making stores unviable. Also there is no transaction with them (Amazon) for the mall building," he claimed.
On the other hand an Amazon India spokesperson clearly said that the company does not comment on what it may or may not do in the future.
In a report, a senior analyst with a leading real estate firm said, "Inorbit will soon be converted into commercial office space. Amazon might be evaluating this option like few other clients. However, as per market information, they have not yet signed anything with Inorbit."


text:
Naspers to bet on machine learning
Naspers has taken stakes in myriad businesses around the world to try and replicate its success with Tencent, which it backed as a startup 18 years ago.
The South Africa internet and technology group spent about $3 billion on its various ventures around the world last year, including Swiggy and Russian classifieds site Avito BB. Machine learning, a subset of artificial intelligence, is another area of interest, as is online education, executives said on Friday.
“We are interested in investing in machine learning,” chief executive officer Bob van Dijk told shareholders at the annual general meeting in Cape Town. “The amount of data is exploding — last year we collected more data in the world than ever before.”
Naspers has taken stakes in myriad businesses around the world to try and replicate its success with Chinese internet giant Tencent, which it backed as a startup 18 years ago. The growth of that company has helped transform Naspers from its roots as a publisher of South African newspapers, which now makes up about 0.5% of the business.
The spinoff and listing of assets into a new entity known as Prosus NV is partly to help narrow a valuation gap between the Tencent stake and Naspers as a whole, which is about $125 billion vs $99 billion at current prices. The move is also intended to ease Naspers’s dominance of Johannesburg’s stock exchange and attract investors. Shareholders voted to support the move after Friday’s AGM. Naspers will retain a 73% stake in the new company.


text:
May 28, Karachi: Government to announce pro-people, pro-business and no budget proposal starting from next year 1st July. The Federal Board of Revenue (FBR) will collect approximately Rs51,00 billion in revenue, which is expected to be a 30% higher collection of Rs3.900 billion in the upcoming fiscal year.
The government is focusing on providing relief to the people and businesses until the situation of Covid-19 is stable. The budget will compensate for the economic loss that Pakistan is facing and will face in the future due to Covid-19.
The taxes will increase to provide relief for people and businesses. The targeted amount is Rs51,00 billion which can be achieved if the economy runs properly but due to lockdown it seems difficult at the moment. The officials say the government will be needing more revenues to spend more on healthcare.
The revenues will increase if we increase tax, no increment on the salary of government employees, and to save the finance budget instead of borrowing it. The economy of Pakistan is going downhill when businesses are not operated properly e.g restaurants, schools, hotels, and wedding halls.
Multi rounds of a budget for businesses in need and supporting program strategies will be needed to avoid a recession in the country. Both fiscal and monetary policies can come together and figure out a way to help out the people of Pakistan.
- What are the Effects of Coronavirus on the Economy of Pakistan?
- Apartment Vs House: Which One is more Pocket Friendly?
- 10 Acts of Kindness Post and During Coronavirus


text:
By John P. Mello Jr. , PCWorldJul 6, 2010 8:33 am PDT
Sometimes it’s good to be a freelancer.
When companies lock horns over new technologies, no matter who ends up on top freelance jobbers will always be the winners, according to a report released today by Freelancer.com, which claims to be the largest outsourcing marketplace in the world. “What we see time and again is that no matter what the hot tech trend of the day is, ultimately it’s the online worker that benefits,” CEO Matt Barrie said in a statement.
The Freelancer Fast 50 report, which covers quarter-to-quarter increases in job posting for the first half of the year, showed the biggest gains were in areas where tech giants grappled for market share. Topping the Top 50 list were geolocation jobs, which rocketed 909 percent during the period. “Geolocation grabbed the number one spot this quarter as the location wars heated up,” the report observed. “While Foursquare and Twitter battled it out, freelance workers reaped the benefits….”
Another nasty conflict that erupted during the period–Adobe and Apple’s spat over delivery of video to mobile phones and beyond–was also reflected in the job site’s global listings. Apple CEO Steve Jobs’ endorsement of HTML5 and refusal to play nice with Adobe Flash fueled demand for the work-in-progress Web standard, the report asserted. “This endorsement gave HTML5 the shot in the arm it needed and lead to a massive 721 percent boost in HTML5 jobs,” it maintained.
Job postings were also stoked in other technology areas that reflect hot trends. Anything related to hosting services over the Internet–a/k/a “The Cloud”–saw impressive increases during the period, the report noted. Postings for jobbers with Amazon Web Services skills alone, it said, climbed 446 percent during the period. (Click to view FREELANCER FAST 50chart )
As the demand for mobile apps continued to rise so did jobs in that arena, according to the report. The 282 percent hike during the period in mobile phone app jobs reflect an insatiable appetite for apps, it contended. “Having an app has become an essential tool for any business and SMEs [Small to Medium Enterprises] are increasingly looking to online labor to get their apps [built] more cost effectively,” it added.
“The new global freelance workforce by necessity is incredibly flexible,” CEO Barrie declared.
“Any job you can possibly think of can now be outsourced online,” he added. “For the first time, small businesses can outsource projects [for] as little as $30, and have delivered roughly the equivalent of $300 of western world [labor].”


text:
MIAMI, Fla. – A woman wearing what appears to be a Miami-Dade transit worker's uniform has been caught on surveillance video at two different liquor stores stuffing bottles inside her clothing and walking out of the store without paying.
At Jenson’s Liquors on N.W. 17th Ave. in Miami, the owner says the woman has stolen from their store twice. He says this is frustrating because businesses are already hurting because of the coronavirus crisis. He says this is the time people should be coming together and not working against one another.
On Tuesday, the woman walked into Liquor Time on East 49th Street in Hialeah, hid a bottle in her clothes and walked out. On Wednesday, the same woman came back with a man who distracted the clerk while she walked out with more bottles. Surveillance video then showed the pair driving off. The store was hit again when a car ran into the building causing bottles to come crashing down from the shelves.
On Wednesday, surveillance video caught the woman again, dressed in the same transit uniform at Jenson’s, stuffing two bottles into her pants, then she walked out.
Natalia Ferero, a clerk at Jenson’s, said it is a problem. “For me, for the customer, for everyone, it’s crazy.”
The liquor of choice for this thief, the clerk said, is a bottle of gin and a bottle of Jack Daniel’s. The store clerk at Jenson’s said on Wednesday the woman told her she was going outside to get her credit card but never came back
Local 10 has reached out to Hialeah and Miami-Dade police to see if they believe the incidents are related.
Local 10 has also learned that another liquor store may have been struck by the same thief.
If you have any information that can help police, contact Miami-Dade Crimestoppers at (305) 471-TIPS.


text:
The third-generation Twingo has been jointly developed alongside the new Smart ForFour, and thus uses a rear-engined, rear-wheel-drive layout, as opposed to the front-engined, front-wheel-drive configuration of its predecessors. This is to improve interior space and will also mean a smaller turning circle.
The image released shows that Renault will allow customers to personalise their Twingo in much the same way that you can with a Mini or Fiat 500. Renault will offer four “pop” colours that it hopes will make it stand out against the Vauxhall Adam and new Peugeot 108.
The car will be available in the UK as a five-door only, while the engine and gearbox line-up will be shared with the new Smart, which will be built alongside the Renault in Slovenia.
The new Twingo goes on sale in the UK in September, although prices are yet to be announced. It will make its debut at the Geneva motor show on March 4.


text:
India's Company Law Board has given Unitech Wireless until March 19 to decide whether it wants to sell its minority stake in mobile JV Uninor to partner Telenor, or buy out Telenor's stake.
Apple has won two legal victories in the Netherlands as part of its ongoing patent battle with Samsung, with a court ruling that Samsung can't assert patent violation against the iPhone 4S with FRAND patents, or pursue an injunction on the device in the market.
US wireless venture LightSquared has hired two litigators, in anticipation of a possible legal challenge against regulator FCC's decision to block its attempt to build a 4G network using satellite spectrum.
A former Google executive has publicly criticized the company for becoming too focused on advertising and competing with Facebook in the social media segment, at the expense of innovation elsewhere and the company's corporate culture.
UK operator Virgin Media has won a tender to provide Wi-Fi services on platforms and ticket stations in the London Underground train system, and will provide free connectivity during the Olympic and Paralympic Games.
Broadcaster BBC has revealed plans for a fee-based download service for TV programs, making the shows available minutes after broadcast.
A former Microsoft employee has launched a website devoted to highlighting flaws with Microsoft's upcoming Windows 8 OS as a desktop PC OS, and suggesting fixes for the issues.
Apple has started shipping units of the new 1080p version of Apple TV to pre-order customers, ahead of the device's official launch tomorrow.
- Webwire: Iliad undercuts rivals; Reports of Foxconn suicide threat
- Webwire: Fiber speed record broken; Bank predicts MS takeover of Nokia
- Webwire: Apple, Samsung setbacks in legal fight; Huawei hits out at US
- THE WRAP: Huawei foiled again, BlackBerry goes dark
- Webwire: iPhone 4S breaks pre-order records; BlackBerry users suffer outage


text:
Google's founders Larry Page and Sergey Brin earned salaries of just $1 (50p) last year, documents have revealed.
The pair, who built up the internet giant from their dorm room at Stanford University in the late 1990s, drew only nominal wages from the company in 2006. Statements filed with the US securities and exchange commission show that Google's chief executive, Eric Schmidt, also took a salary of just $1.
It is the third year in a row that the trio have taken basic salaries. Their bank managers will be consoled, however, with the news that their shares are now worth five times more than when Google floated on the stock market two and a half years ago.
On the back of continuing strong performance - the shares are now more than $470 - Mr Brin, 33, and Mr Page, 34, are worth an estimated $14bn each. Their wealth last month placed them at 26 in Forbes magazine's ranking of America's richest people. Mr Schmidt, who joined the company in 2001, is worth $5bn, giving him the lowly position of 116th in the same league.
The trio, who "run Google as a triumvirate" according to the financial documents, also drew holiday bonuses of $1,723 each last year. In addition, Mr Page received further bonuses of $38,519, while the 52-year-old Mr Schmidt received bonuses of $555,742 to cover personal security and travel costs.
Executives further down the chain were rewarded with less altruistic salaries, with some other members of the board earning in excess of $2m.
The figures come after a busy and turbulent year at the Silicon Valley company.
After a much-criticised entry into the Chinese market - later described by Mr Brin as "a net negative" because of controversy over internet censorship - Google rounded off 2006 with the $1.65bn acquisition of the video-sharing website YouTube.
Last month MTV owner Viacom announced a $1bn lawsuit against the internet company for what it claimed was YouTube's "massive intentional copyright infringement".
By drawing nominal salaries, the trio have become part of a wider trend among US executives - particularly those in Silicon Valley - who link their income to the performance of the companies they steer.
Apple co-founder Steve Jobs and Yahoo! boss Terry Semel are among the other high-flying technologists who receive notional $1 wages for their work.


text:
The company SERVIAGRO 2000, devoted to the export of organic citrus fruits, has become the first company in its sector in Spain to obtain the AgroCovid-19 certificate issued by SOHISCERT, which serves to approve the measures adopted to guarantee protection against COVID-19.
The certificate has been awarded after an external audit, which has verified that SERVIAGRO 2000 provides workers, carriers and visitors with adequate safety measures against the coronavirus.
The firm has been a specialist in the marketing of organic citrus for more than 20 years. It handles 20,000 tons per year and has more than 400 employees.
It can be identified commercially with the Vega Verde brand and its facilities have numerous certifications in the field of organic production and food safety.
The fruit and vegetable center, located in the Malaga municipality of Alhaurín de la Torre, continued its normal activity even at the peak of the pandemic. To do this, it implemented all necessary safety measures.
The certification obtained confirms SERVIAGRO 2000's commitment to guarantee the safety of its employees and prevent the spread of COVID-19 through protocols and information measures, risk prevention, protection of people, and hygiene at the facilities.
The Agro-food Protocol against COVID-19, also called AgroCovid-19, has been prepared by the certification company SOHISCERT and has made it possible to standardize the way agro-food industries have to act, following the recommendations of key national and international organizations.
For more information:
Vega Verde (Serviagro 2000)
C/ del Cine 68, 29130 (Santa Amalia)
Alhaurín de la Torre, Malaga. Spain
Tel.: +34 952 00 48 20


text:
Sales: $1.6 billion.
Key Personnel: Reinold Geiger, executive director, chairman and chief executive officer; Silvain Desjonquères, group managing director; André Hoffmann, executive director and vice chairman; Thomas Levilion, executive director and group deputy general manager; Karl Guénard, executive director and joint company secretary.
Major Products: Personal care, skin care and fragrance sold under L’Occitane en Provence, L’Occitane au Brésil, Melvita, Le Couvent des Minimes and Erborian.
New Products: L’Occitane Limited Edition Summer Verbena Collection; Delicious Lip Scrubs; Fruity Lipstick; Radiance Scrub; Soothing and Purifying Masks; Almond Shower Shake.
Comments: L’Occitane International boasts 1,572 company-owned stores around the world, 86 of which are in France.
Leading company news this year is its skin care expansion. L’Occitane International S.A. revealed it will acquire Elemis for $900 million in cash. The company is being sold by Steiner Leisure Limited, a portfolio company of L Catterton. Elemis offers four beauty franchises, while capitalizing on its five strategic distribution channels: digital, retail distribution, QVC, professional spa and maritime, according to the company.
In other news, The L’Occitane Group is opening a new L’Occitane en Provence concept store in New York City. The 1,870-square foot store located at 555 Fifth Avenue is described as a unique immersive destination that will communicate the brand’s signature pillars through a range of interactive customer touchpoints.
Designed by L’Occitane’s international artistic director Daniel Contorni and Paul Blackburn, vice president of concept design, construction and merchandising, the store will be “an evolutive space continuously changing to highlight seasonal campaigns,” said the brand.
While the existing L’Occitane experiential boutique at Flatiron continues to offer exceptional service and skin care innovation, this new spot will be “more disruptive and attract new customers, encourage engagement and produce user-generated content for social media,” according to brand.
L’Occitane en Provence remains the Group’s core brand, accounting for 87.4% of total net sales.


text:
updated 07:42 pm EST, Mon December 16, 2013
Microsoft-led suit led to embargo of older Motorola devices, suits continue
The United States Court of Appeals for the Federal Circuit upheld Microsoft's ban on Motorola's products that used a meeting scheduler patent. Google-owned Motorola attempted to get the ruling overturned, hoping that the court would invalidate the patent and overturn the US International Trade Commission finding holding it valid.
The ITC found that 18 Motorola devices, including the Droid smartphone and Xoom tablet, infringed the patent in question. Motorola disputed the ruling and the ITC agreed to review the case, however the agency has made a "final determination" regarding the violation and determined that an import ban represents the "appropriate form of relief."
Motorola has refused -- and still refuses -- to pay Microsoft royalties for the patent, where nearly every other Android cellphone manufacturer has done so. The import ban has been in place for nearly 18 months on devices mostly irrelevant to the modern market.
Microsoft believes that US Customs held secret meetings with Motorola's parent company Google earlier in 2013 -- and that after the series of meetings, the Customs and Border Patrol continued to let the embargoed devices enter the US. "Customs has a clear responsibility to carry out ITC decisions, which are reached after a full trial and rigorous legal review," Microsoft Deputy General Counsel David Howard said in a statement. "Here, Customs repeatedly ignored its obligation and did so based on secret discussions."
Patent analyst Florian Mueller believes that the standard for the appeals court to reject the embargo based on invalidity was a nearly impossible hill to climb, calling it a "rather difficult standard of review for appellants to overcome." Mueller believes that "one can't blame the ITC for arriving at its conclusions, but the appeals court might have upheld the opposite decision as well."


text:
Talk at the Copenhagen Business School about making revolutions
March 25, 2010
Social Action will speak at the Copenhagen Business School Thursday March 25 at 15:45.
We will present the Corporate Social Innovation roadmap we have developed for the Danish Ministry of Business.
The walk-through of the roadmap is intended to inpire and motivate the students at CBS – notoriously known for NOT starting up their own businesses – to create what we all need in this small world: new business traditions that help improve the world thorugh sustainble practices, products and services.


text:
News Highlights: Top Company News of the Day
Bayer's Request for Roundup Appeal Rejected by California Court
The California Supreme Court declined to hear an appeal by Bayer
seeking to reverse a jury verdict that the company's Roundup
herbicide caused a groundskeeper's cancer, leaving the company with
few remaining options to avoid paying a $20.4 million judgment.
Barclays Profit Tops Estimates
Barclays posted above-consensus profits for the third quarter
and set aside another GBP608 million provisions to cover the cost
of coronavirus-related losses, less than forecast.
Daimler Lifts Profit Guidance
Daimler raised its outlook for group earnings after the car
maker profited from improving markets and cost-saving measures in
the third quarter, and said it expects the momentum to
Gucci Struggles as Pandemic Keeps Tourists Home
Gucci reported a 12% drop in third-quarter sales as the Italian
fashion house was hit hard by the absence of tourist shoppers from
Asia during the pandemic.
Covid-19 Drug Remdesivir Fully Approved by FDA
The U.S. Food and Drug Administration has granted a full final
approval to Gilead Sciences Inc.'s remdesivir, making it the first
Covid-19 treatment deemed safe and effective by the regulator, the
company said Thursday.
Walmart Sues U.S., Aiming to Head Off Opioid Penalties
Walmart sued the federal government in an attempt to strike a
pre-emptive blow against what it said is an impending
opioid-related civil lawsuit from the Justice Department.
Goldman Sachs Malaysia Subsidiary Pleads Guilty in 1MDB Case
A unit of Goldman Sachs pleaded guilty to conspiring to violate
U.S. antibribery laws, the first step in an expected resolution of
a long-running investigation into its role in a Malaysian
Uber and Lyft Must Classify Drivers as Employees, Appeals Court Says
The ride-hailing companies must comply with an order that
requires them to reclassify their drivers as employees, a
California appeals court said, siding with a lower-court ruling
that threatened to upend the business models.
Intel Hit as Consumers Flock to Lower-Cost Laptops, Datacenter Chips
Chip giant Intel Corp. raised its full-year outlook even as
earnings suffered as consumers gravitated to cheaper laptops and
demand for datacenters softened.
California Loses Last-Ditch Effort to Force Exide to Deal With Toxic Legacy
California taxpayers were left responsible for a contaminated
plant outside Los Angeles after a judge turned down an emergency
bid by state environmental regulators to block Exide Technologies
from exiting bankruptcy.
(END) Dow Jones Newswires
October 23, 2020 03:15 ET (07:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.


text:
Portable office Bluetooth devices are an important part of business and further developments should be expected in the future.
That is the opinion of Jack S Churchill, director of Scanning Pens Ltd who has said that the market for the product is still growing.
“Bluetooth works very well – they [portable products] are something you can put in your laptop bag or briefcase,” he said.
“I don’t think there are any compatibility problems at all at the moment, but it depends on what happens with new products.”
Mobile Internet Devices are expected to grow hugely in the next five years, with ABI Research predicting a growth of 167 per cent over the next five years.
Many offices in London are tuning into the idea of being able to use “always-on” web browsing and are seeing the benefits of being able to share files faster.
Wireless devices are seen as the way forward by many, as they take up less space and avoid some health and safety issues.Share: