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We reported earlier today on news that Apple is preparing to undertake maintenance work on iTunes Connect today from 9am to 4pm PDT. Although we cannot confirm anything, we think there is (strong) reason to believe that this maintenance is being undertaken to rebalance iTunes prices internationally which over the past year have (to be quite honest) spiralled out of control. The above diagram illustrates this fact quite clearly and it also exists for Apps and other iTunes content. Yes, that’s right, there is an 81% surcharge for an Australian buying the same song as an American and those in Switzerland have to pay more than double at a 105% surcharge.
My thinking of this occurring started last Friday when Australian politician, Ed Husic, tweeted that Apple will “be getting back to me in mid July” regarding issues he had raised about (Australian) Apple pricing in Federal Parliament back in March. Now whilst he did (mostly) focus on hardware disparities in his speech, I still felt (on Friday) that Apple’s response could be about “re-calibrating” the iTunes ‘exchange-rate’ - mostly because the Australian dollar has been sitting around US$1.03 whereas the iTunes ‘exchange-rate’ expects it to average at US$0.60.
Fast-forward to today’s news that iTunes Connect is facing maintenance. If you read the notice, it makes it clear that something is happening to the price mechanism, as the letter reads: “pricing changes made between 9 a.m. and 4 p.m. PDT will cause the app to become unavailable for purchase until maintenance is complete”.
Whilst that alone doesn’t suggest much, the fact that the notice explicitly mentions that customers may not be able to purchase content from iTunes if in Mexico, U.K., Australia, Switzerland, Japan or Norway really stood out to me. Because (with the exception of Mexico), those mentioned are (mostly) the worst affected regions of the iTunes price disparity - just look at the above or below graphs. Whilst Mexico is the opposite, they have actually been able to purchase content at cheaper than US customers.
To be absolutely clear, I re-iterate that we have no inside knowledge that this is the definite reason for the maintenance today. But the dots (if you will) just all connect: disparity has gotten ridiculous, Ed Husic’s tweet, it being mid-July, the affected portions of iTunes Connect and the regions affected. Nonetheless if by the end of today there isn’t a change, I think it’s still safe to say that Apple will inevitably act and I think that will be sooner than later.
You can read more about this global iTunes price disparity in this article we published in January.


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Blue Bottle Coffee has become the largest United States coffee chain to temporarily close all its retail locations in an effort to mitigate the spread of the coronavirus.
The Oakland- and Sacramento-based company announced it is closing all 71 of its U.S. stores, which are located in the major markets of the Bay Area, Los Angeles, Washington D.C., New York and Boston.
“While we wish we could remain open to offer you a safe haven in these uncertain times, we simply do not have the benefit of enough information to ensure our public spaces are safe,” Blue Bottle CEO Bryan Meehan wrote in the company announcement. “So we are doing what we know is right in the moment.”
The company said that it will reevaluate the position in two weeks, while it will continue to maintain its existing staff, pay rates and any health benefits, with baristas being paid for their scheduled hours.
It is worth noting that Nestlé-owned Blue Bottle is expected to soon settle a class-action originally filed in California in 2018 that alleges systematic wage theft. According to a San Francisco Chronicle report last week, the company plans to settle the suit for $1.5 million.
In a statement emailed to the Chronicle and verified by DCN, an attorney representing Blue Bottle said the company believes it has always been in compliance with California law, although it chose to settle “because the settlement results in more money being paid directly to employees, and less to attorneys.”
Outside of the United States, Blue Bottle is continuing to operate its dozens of cafes in Korea and Japan, with Meehan noting that “we believe it is currently safe to operate there with the enhanced health and wellness measures we have implemented.”
The company is continuing to operate its U.S. and Asian roasteries for coffee delivery and all other sales channels.
“We are closely monitoring this situation and look forward to welcoming everyone back into our cafes just as soon as we can,” Meehan wrote. “For now, we encourage our teams and guests to stay at home with loved ones and to keep kindness at the forefront of our lives, so that together we can help flatten the curve of this spread. In the meantime, our profound thanks goes out to all in the medical community who are battling this virus on the front lines.”
Blue Bottle’s difficult decision to close follows an announcement from the largest U.S. coffee retailer, Starbucks, that it was temporarily shuttering some stores while transitioning to a to-go model in all others in the U.S. and Canada. Other well-known U.S. regional chains that have announced coronavirus-related temporary retail shut downs as of Monday morning include San Francisco-based Sightglass Coffee and Milwaukee-based Stone Creek Coffee Roasters.
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Looking for a new home? Amazon probably isn’t the first place you’d turn.
But the e-commerce giant — beloved for delivering everything from toilet paper to designer duds (not to mention these secret brands) to your door in just two days — is expanding into the housing market.
Guess we shouldn’t be too surprised given that between Prime Music, Prime Video, Prime Now, Prime Pantry and AmazonFresh (and how could we forget the news that Prime member will get special Whole Foods discounts?!), the online retailer has permeated virtually every other facet of our lives.
Anyway, back to — what could be — your next crib.
Amazon now sells a prefabricated tiny house by MODS International. The fully furnished, 320-square-foot residence is made from a new shipping container and features a bedroom, bathroom, kitchenette and living area. It’s also equipped with insulation, appliances, bath fixtures (toilet, shower and sink), heat, air-conditioning and hookups for plumbing, water and. electricity. Oh, and it has double patio doors.
It’s basically move-in ready: All you need is a solid concrete slab or Sonotube footings for the foundation and to access the aforementioned utilities.
Wondering how much this pint-sized palace will set you back? It can be yours for $36,000, plus $3,754 in shipping costs.
Beyond being budget-friendly and sustainable, what’s great about this unit is that you can customize it to make it your own.
Need some inspiration? Check out these dreamy dwellings that pack big style into a small footprint:
This story was originally published Oct. 17, 2017.


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In a visit organised by the Engineering Development Board (EDB), a nine-member trade delegation representing electric fan sector visited Ho Chi Minh City in order to develop business-to-business meetings and explore opportunities to enhance exports.
The Pakistan Electric Fan Manufacturers Association (PEFMA) delegation held meetings with different companies including Co. Phat Mechanical Manufacturing Company (Cophaco) — one of the prominent manufacturers of electric fans in Vietnam.
During the visit, Vietnamese buyers told the PEFMA delegation that light fans were required from Pakistan as demand was increasing at luxury resorts, hotels and spas etc.
The delegation visited Caribbean Motor Manufacturing Factory, and it was decided that another delegation belonging to the auto sector will visit Vietnam to promote business links.
The PEFMA delegation also visited industrial fan manufacturing factory of Nghe Nang Co. Ltd (IFAN) in Vietnam and the “Vietbuild-29 Industrial Exhibition” held in Ho Chi Minh City related to white goods to explore possibilities of exporting fans to Vietnam.
The EDB expects the initiative will act as a driving force for growth in export of engineering goods from the country and help boost development of value-added engineering products.
Published in Dawn, December 31st, 2019


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German Finance Minister Peer Steinbrueck said on Saturday that Canadian auto parts maker Magna was Berlin's preferred bidder for General Motors' Opel unit.
After lengthy talks in Berlin between German politicians, US government officials and executives from GM and Magna, Mr Steinbrueck said an agreement had been reached.
The German government is expected to provide an immediate loan facility of 1.5 billion euros ($US2.1 billion). Magna is backed by a Russian bank and truckmaker.
Other bids were made by Fiat of Italy and Brussels-based RHJ International.
Magna International was founded by an Austrian immigrant, Frank Stronach, 76, in Canada 50 years ago.
He left school at age 14 to apprentice as a tool-maker, then emigrated to Canada in 1954.
Magna assembles vehicles under contract for Saab, BMW, Mercedes-Benz and Chrysler.
Based in Aurora, Ontario, north of Toronto, Magna is one of the world's largest manufacturers of automotive parts. It employs 70,000 people in 326 plants and research offices in 25 countries.
US deadline for GM
General Motors is under a deadline of Monday to seek bankruptcy protection in the United States for restructuring.
GM said late on Friday that president and chief executive Fritz Henderson will hold a media briefing on Monday.
Opel has been under GM's control for the past 80 years. However, its roots in Germany extend back to the 19th century.
Magna has said it will inject between 500 million - 700 million euros into Opel, assuming the deal gains government approval.
It also plans to cut 2500 jobs in Germany, about 10% of Opel's workforce in that country. Fiat had said it would cut 10,000 jobs.
Under the agreement with Magna, GM would keep a 35% stake in the company, while 10% would be owned by Opel employees.
The deal is expected to include Vauxhall in Britain also.
Meanwhile, Chrysler is close to obtaining court approval for its sale to a group led by Fiat SpA of Italy.
Chrysler wants to sell most of its assets to a New company owned by Fiat, labor unions and the US and Canadian governments, in exchange for $US2 billion paid to its lenders.
In Sweden, Saab, which first sought protection from its creditors in February, has been granted an extension until 29 August to find a new owner and restructure its business.
Swedish business daily Dagens Industri reported late on Thursday that the two front-runners were Swedish luxury carmaker Koenigsegg and US financier Ira Rennert and his Renco Group. Fiat was in third place.


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(WTNH) — News 8 is happy to share your holiday spirit on WTNH.com and during our newscasts this holiday season!
From now through New Year’s Eve, News 8 is going to feature holiday lights photos in our newscasts. If you love decorating your home for the holidays, now’s your chance to show everyone in Connecticut your holiday spirit.
Here’s how you can get your Holiday Lights photos to us:
- Use the Report-It feature on the News 8 App
(Download the News 8 App for iPhone or Android)
- Send in your photos through Report-It on WTNH.com
- Send us your photos via Facebook and Twitter using the hashtag #WTNHLights
Looking to see our collection of Holiday Lights Photos? Check out the photos we have so far, with more being added every day.
Happy Holidays from all of us at News 8!


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This deluge of leads coming in to real estate agencies across the country from online sources is the inspiration for Agentology, a new startup that just raised $12 million in a round led by Defy.vc. Read more on TechCrunch here.
On Monday, it said it would acquire the bike-share company Jump, in a deal worth $200 million. Read more on WIRED here.
Israeli global equity crowdfunding platform OurCrowd had two portfolio exits announced earlier this week bringing its total number of exits to 20 in five years. Read more on Globes here.
US footwear and clothing giant NIKE Inc. (NYSE: NKE) announced last night that it has acquired Israeli computer vision company Invertex Ltd. to strengthen its digital technology platforms. Read more on Globes here.
The deal for Jump Bikes, recognizable by its bulky red bicycles with large baskets, gives Uber access to customers in Washington and San Francisco, where the startup has a few hundred bikes available to rent in increments of 30 minutes for $2. Read more on The Wall Street Journal here.
JUMP’s decision to sell to Uber came down to the ability to realize the bike-share company’s vision at a large scale, and quickly, JUMP CEO Ryan Rzepecki told TechCrunch over the phone. Read more on TechCrunch here.
Today, Cyber 2 Automotive Security (C2a) has announced that its patented Stamper technology — which protects the connected car from cyber threats — is now being made available to auto manufacturers and suppliers worldwide through a royalty-free license. Read more on VentureBeat here.
Security firm BioCatch provides tools for companies to learn employees’ digital behavior and identify when an unauthorized person is trying to access information. Read more on CNNMoney here.
While major technology and car companies are teaching cars to drive themselves, Phantom Auto is working on remote control systems, often referred to as teleoperation, that many see as a necessary safety feature for the autonomous cars of the future. Read more on The New York Times here.
To see what the world looks like from behind the handlebars, WSJ’s David Pierce takes an Uber Bike for a spin around San Francisco. Watch the video on The Wall Street Journal here.


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The NPD Group, the company which offers information on monthly hardware and video game sales for the United States market, has released figures for November that show the first person shooter Call of Duty: Black Ops as being the best sold title for the period, with the action adventure Assassin's Creed coming in second.
The software market has seen an increase of about 3 percent over the same period in 2009, with sales going up to 1.5 billion dollars, quite a healthy figure.
This comes as the entire industry, which also includes hardware sales and accessories, is close to 3 billion and increasing by 8%.
Call of Duty: Black Ops, developed by Treyarch and published by Activision Blizzard, has managed to sell more than 8.4 million units on the United States market, with one in four titles moved to customers during November being linked to the franchise.
Assassin's Creed: Brotherhood from Ubisoft has managed to come in second while another Ubisoft published game, the casual music based Just Dance 2, which launched exclusively for the Nintendo Wii, is on the third spot.
Madden NFL, the American football simulation from EA Sports, has managed to continue its strong performance since it came out in August to take the fourth spot in the November sales chart, while Fable III, the Xbox 360 exclusive role playing game from Lionhead and Microsoft, came in fifth.
Donkey Kong Country Returns has debuted on the sixth place.
Need for Speed: Hot Pursuit from Electronic Arts is at number seven, just ahead of another car-based title, Gran Turismo 5, which is exclusive to the PlayStation 3.
NBA 2K11 is on the ninth place while Wii Fit Plus closes down the top ten.
It's interesting to note that none of the titles in the top ten were directly powered by the Move or Kinect motion tracking device, which managed to perform well during the month in the accessories market.


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With the forthcoming iPhone X starting at $999, Apple (NASDAQ:AAPL) investors already know the company is about to enjoy a meaningful uplift in iPhone average selling prices (ASPs). After all, that's to be expected when a product moves further upmarket and create an even more expensive pricing tier. There's now another data point to suggest that the uplift could be rather substantial.
RBC Capital Markets recently conducted a survey of prospective iPhone X buyers, according to MacRumors. There were 832 respondents, and 28% indicated that they were planning on buying the iPhone X. Of those, 57% said they were planning on paying up for the 256 GB model that costs a whopping $1,150.
New storage pricing structure
Historically, Apple offered three tiers, each $100 apart, but the company revamped that pricing structure in 2014. That year, the first $100 storage upgrade quadrupled capacity from a woefully insufficient 16 GB to 64 GB. The upsell opportunities were extremely compelling, and investors saw a noticeable uptick in ASPs that has largely persisted, even after Apple finally bumped up the base storage level to 32 GB last year in the iPhone 7 after years of criticism. The dip in ASPs in early 2016 was largely related to the introduction of iPhone SE at $400 (since reduced to $350).
Apple has again revamped its storage pricing this year. The Mac maker has also bumped up prices on the iPhone 8 and iPhone 8 Plus, in part because those models now start with 64 GB of storage. Apple has also simplified its storage pricing down to two tiers for all 2017 iPhones. Instead of $100 tiers, there is now just a single $150 upgrade to quadruple storage to 256 GB.
In a way, that could have been a risky move. The shift in 2014 was so powerful precisely because 16 GB is inadequate, virtually ensuring that a large number of buyers would opt for the middle storage tier at a minimum. Standing pat at 16 GB for so long was absolutely consumer-unfriendly, but it was a strong move for the business from an investing perspective. By including 64 GB on all base 2017 iPhone models, the risk is that 64 GB is sufficient and not many people choose to upgrade to 256 GB for $150. Those concerns may be misplaced.
Time for a new ASP record?
The current record for iPhone ASP is $695, which was set in Q4 2016. That record was driven by strong demand for the iPhone 7 Plus, which commanded the highest iPhone pricing up until this year. The iPhone 7 Plus started at $770 at launch, and its dual-camera system was exclusive to the larger Plus model. There was a $30 price increase compared to prior years associated with the dual-camera system alone.
The iPhone X has many ways to justify its $999 price tag, and it looks like a lot of potential customers are finding ways to justify a $1,150 price tag -- which is more than entry-level Macs. There's a good chance that Apple will set a new iPhone ASP record in the coming quarters.


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U.S. Treasury Bond yields stable this week – The 10-year U.S. Treasury Bond closed the week yielding 2.42%, unchanged from 2.41% last Friday. The 30-year Treasury Bond yield closed the week at 3.03%, almost unchanged from 3.01% last week. Mortgage rates follow bond yields, so we watch treasury bonds closely.
Mortgage rates hold steady – The Freddie Mac Primary Mortgage Survey released on February 16, 2017, reported that average mortgage rates from lenders surveyed for the most popular mortgage products were as follows: The 30-year fixed rate average was 4.15%. The 15-year fixed average rate was 3.35%. The 5/1 ARM average rate was 3.18%.
Economy shows signs of inflation picking up – The prices Americans pay for goods and services surged in January by the largest amount in four years, mostly reflecting a rebound in the cost of gasoline that’s taking a bigger chunk out of household incomes. The government’s reported consumer price index (CPI) showed that consumer prices rose 2.5 percent in January from a year earlier, the highest rate since March 2012. About 1/2 of the rise was attributed to higher gas prices. Rent and medical costs also saw a spike from a year earlier. The seasonally adjusted 0.6% rise in January was double the 0.3% economists predicted. Core inflation which strips out gasoline and food prices rose 0.3% in January and was up 2.3% from last January. We watch inflation because when inflation rises it causes interest rates to rise. Fortunately rates have risen on the expectation of higher inflation, so rates remained steady despite the higher CPI report.
California home closed escrows higher in January – The California Association of Realtors reported that home sales totaled 420,100 in January on a seasonally adjusted basis. The number of sales increased 2.1% from December’s sales pace and 4.4% from last January. Although the median price dropped slightly from December, it was up 4.8% from January 2016’s median. Inventory levels rose to a 3.7 month supply in January from a 2.7 month supply in December as more homeowners put their homes on the market. There was a 4.3 month supply last January.


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The upmarket US supermarket chain Whole Foods is facing an uphill struggle to expand across the Atlantic after suffering losses of $18.4m (£9m) in a year at its six newly opened stores in Britain.
Whole Foods, which specialises in organic and healthy produce, last night revealed that it was reviewing its nascent British operations and will be cutting back on openings in its home market.
"We are disappointed in our results in the UK," chief executive John Mackey said. "We are carefully evaluating all aspects of our operations in the UK."
Whole Foods' global profits slumped 31% to $33.9m, sending its shares tumbling 15% in after-hours trading on the Nasdaq exchange. It blamed sluggish economic conditions for a slowing in sales growth in the US, where it will open only 15 stores over the next 12 months rather than the planned 30 or 40.
In Britain, the arrival of Whole Foods was billed last year as a potential boon to gourmets. Its London outlet is spread over three floors of a former Barkers department store in Kensington. But the company's results suggest that shoppers are yet to be won over.
Mackey said there had been some improvement in recent months with UK losses dropping to $16m on an annualised basis. "Our goal is to reduce our operating losses to $13m in fiscal year 2009, $7m in fiscal year 2010 and to approach break-even in 2011," he said, adding that Whole Foods had suffered similar initial losses when it entered Canada.
"We believe the long-term growth potential in the UK is much greater th an in Canada."


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If you’re on the hunt for a deal this holiday season, there is reason to consider starting your shopping now.
“They’re spreading their sales out and they’re starting them earlier,” said Kristin McGrath, a shopping expert for BlackFriday.com.
McGrath says early Black Friday sales are already in full swing, with major retailers like Walmart, Target, and even Costco rolling out special sales weeks before Thanksgiving.
“Last year it was because they wanted shoppers to be safer, they didn’t want people crowding into stores,” she said. “This year it’s to give everyone an early start given the supply chain issues and shipping issues that they’re all facing.”
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Walmart’s “Deals for Days” include price drops on everything from TVs to toys to even AirPods.
Target is offering similar sales and promising to price match if the price drops on Target before Christmas Eve. You can read more about Target’s price match policy here.
Best Buy also has a price guarantee for certain items, refunding the difference if the price drops before Nov. 26 and you are part of their membership program. More details on Best Buy’s Black Friday policies here.
Responding to every consumer complaint
“As a consumer, I think the game plan this year is if there is a must-have item, something you’re buying for a gift and it’s at a good price and it’s on sale and it’s available, pick it up during one of these early sales,” McGrath said. “Cross it off your list.”
If a gaming console is on your list, McGrath says don’t expect to see deep discounts but watch out for other ways to save.
“A lot of times, they’ll offer these bundles where you get a console, a few extras, maybe a gift card, some games thrown in,” she said. “If you can snag one of those bundles before they sell out, you’re getting a good deal because you’re getting some extras thrown in.”
She says Black Friday is also a good time to shop for small kitchen appliances.
“Air fryers, pressure cookers, coffee makers, Keurigs – retailers discount those like crazy on Black Friday,” she said.
If you’re looking for things like board games or stocking stuffers, she says those are best to buy at the very last minute in early December.
If you’re used to waiting until the last minute and taking advantage of free expedited shipping offers, McGrath says those probably won’t be available as much this year, so make sure you plan ahead.


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While Yahoo was unwilling to do business with Microsoft, it looks like the company isn't entirely against the idea of a merger with a larger corporate overload: Time Warner, for example.
According to news over on TechCrunch
, Yahoo is currently in the latter stages of negotiations with Time Warner over a possible merger – read acquisition of ailing content provider AOL – that could take place as soon as the end of this month. While this isn't the first time the two companies have discussed the possibility of joining forces, it's certainly the first time an almost-firm completion date has been uttered by either party.
The deal on the table is that Yahoo would acquire AOL from parent company Time Warner and take over the content, advertising, and miscellaneous service divisions while leaving the ISP side of things in situ. In turn, Time Warner would give Yahoo around $2 billion for a one-third stake in the newly combined organisation, leaving Yahoo as the majority shareholder.
Currently AOL generates around $2.4 billion annually, but it's thought that the advertising know-how that Yahoo would bring to the table could bump that figure up significantly – something that Time Warner will be banking on in order to recoup its outlay. The combined entity would, according to figures from Comscore, account for approximately 48 percent of all web-based email accounts world-wide – beating Microsoft's 42 percent into second place – and take care of around 39 percent of all worldwide instant messaging needs.
Do you think Yahoo has what it takes to turn AOL into a thriving business once more, or is Time Warner just looking to offload a struggling concern so it no longer needs to worry? Is Microsoft likely to want to purchase the entire joint entity outright once the merger goes through? Share your thoughts over in the forums


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Microsoft announced it will chop prices on its Xbox 360 video game systems. While there are several 360 models, the lowest-end Arcade edition will cost $199 starting on Friday, making it the first current-generation console to bop below $200.
This new price packs a serious 1-2 punch against today’s video-game crop: For one, it undercuts the $250 Nintendo Wii, which has enjoyed the title of reigning console champion thanks to casual gamers. The Wii's catalogue of fun, simple games and a competitive price tag has translated to a huge boost in sales for Nintendo. Americans bought more than three times as many Wiis than 360s in June (666,700 units vs. 219,800) and more than twice as many in July (555,000 vs. 205,000), according to NPD research.
The 360 price cut also plugs into a more psychological trend. Consumers set up weird mental hurdles for themselves. For two years, I eyed a particular line of LCD TV but refused to seriously consider buying one until the $1,200 price came down. Two weeks ago, the 32-incher dropped below $700 and now it’s sitting in my living room.
In today's economy, plenty of Americans have been waiting for a similar price reduction before buying a current-gen system – or, in some houses, before picking their second.
By the way, even with the PlayStation 3 alive and well on store shelves – outselling 360s this summer – the old PlayStation 2 is still close behind with 188,800 units sold in June and 155,000 in July. The PS2 costs only $129.
Of course, price is not the only factor. Xbox 360 came out well before the PS3 or Wii, meaning perhaps it's tapered off because it's reaching a saturation point – after all, only so many people want a video game system. Also, news of 360 units breaking – such as the so-called "red ring of death" syndrome where the systems freezes up indefinitely – might have scared potential customers into the arms of Sony or Nintendo.
But there's a lot to love in a 360. It doubles as a DVD player. The games are top notch. Its online network is perhaps the most vibrant of any gaming console ever – you can download demos, stream YouTube, chat with friends, play against strangers, and – soon – watch Netflix videos.
"At this point, we do not anticipate either Nintendo or Sony to match the Xbox 360 price cut," says Sebastian.
In fact, Sony just announced a new high-end PS3 model for $500. As for the Wii, when you're selling more than half a million systems a month, why bother dropping the price?


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With anything that involves an element of uniqueness, comes variety. The fashion industry is arguably the proverbial poster boy for variety at the current time. The sheer number of brands available to consumers is quite remarkable.
But it’s in trouble. The traditional high street shopping experience has been intensely challenged by online disruptors. They use savvy social media and marketing skills to reach a new generation of customers. And these challengers aren’t going anywhere any time soon. In fact, their presence will only grow.
Current events and performance
Next (LSE:NXT) has a long history in both physical stores and catalogues. That helped it to make an early leap into online. And also to become a major omnichannel name. It continues today to take big steps to integrate its online and offline proposition. It’s using stores to drive click & collect, including one-hour in-store pick-up, and to process e-commerce returns. It has also partnered with Amazon to allow customers to pick up parcels from its stores – driving footfall and incremental spend.
The retailer operates around 500 stores domestically and around 200 in 32 other countries. In the year to 25 January, its statutory sales rose 2.4% to £4.26bn and profit before tax rose 2% to £748m.
But the full-year results published yesterday also contained warnings regarding the coronavirus impact. Next expects to lose 10% of annual sales at a minimum, with a worst-case scenario seeing it losing 25% of sales.
There will be no final dividend, which would have been 116.5p per share. Instead, Next announced an interim payout of up to the same amount to be paid between August and October. For me, these few takeaways represent a business in good shape but also preparing as best it can for a scenario it has not experienced previously.
It’s worth noting that recent data by retail analyst Springboard showed overall footfall at the back end of last year fell by 4.3%, even before the virus hit. Next clearly isn’t alone in its struggles in the retail sector.
Like some peers, the recent market crash has seen it lose a lot off its share price (approximately 40%). However, I believe this is where the opportunity lies. Closing on Thursday at 4,054p and below 4,000p as I write, the shares of this FTSE 100 champion can be picked up cheap. The current price-to-earnings ratio sits at just under 10, compared to close to 12, which is where the wider FTSE 100 currently stands.
In the year before the coronavirus started to impact the market and share prices, Next enjoyed a rise of around 35% in its share price, reflecting investors’ faith in its future. And I agree with them, In my opinion, it’s not all doom and gloom for this retailer, even though the current short-term pain is not to be overlooked.
On that basis I would consider buying and holding Next shares at this moment in time. I believe it can return to its former glory at some point in the near future and could become a good earner. The only obstacle you may experience is time. How long before markets return to some form of normality? I can’t answer that. But I wouldn’t wait too long to get in on the Next act and add the shares to my portfolio.
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Jabran Khan has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.


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Redmi K60 Extremely has reportedly been noticed on the 3C Certification web site, revealing the anticipated charging capability of the handset. The telephone is listed on the 3C certifications web site with mannequin quantity 23078RKD5C. It’s purported to help 5G community connectivity. The smartphone is more likely to be a part of final 12 months’s Redmi K60 sequence lineup quickly. Nonetheless, the corporate is but to share any particulars on the purported smartphone. Redmi K60 Extremely may succeed the Redmi K50 Extremely launched in China in August final 12 months.
In accordance with a report by MyFixGuide, a brand new Redmi smartphone lately visited the China 3C certifications web site with the mannequin quantity 23078RKD5C. The telephone is predicted to be the Redmi K60 Extremely, which is able to be a part of final 12 months’s Redmi K60 sequence. Although the corporate hasn’t revealed any particulars on the identical, the 3C Certification web site itemizing suggests an imminent launch in China. The itemizing has additionally revealed the charging capability of the telephone which might be 120W. Moreover, it has additionally been revealed that the handset will help 5G connectivity.
Just lately, the design renders of the Redmi K60 Extremely had been tipped, revealing some extra particulars of the telephone. The leaked pictures recommended that the telephone will ship with skinny bezels, a rectangular-shaped rear digital camera module housing three sensors, and an LED flash unit. The telephone will reportedly have a gap punch cutout on the show for the selfie digital camera. It’s also stated to be powered by a MediaTek Dimensity 9200 SoC.
The smartphone was additionally noticed on the IMEI database with mannequin quantity 23078RKD5C.
The Redmi K60 Extremely is predicted to succeed the Redmi K50 Extremely launched final 12 months in August. The smartphone contains a 6.7-inch OLED show with as much as 120Hz refresh charge. It’s powered by a Qualcomm Snapdragon 8 Plus Gen 1 SoC paired with as much as 12GB LPPDR5 RAM, 512GB UFS 3.1 storage. It packs a triple rear digital camera setup, led by 108-megapixel major digital camera. The telephone homes a 5,000mAh battery with help for 120W wired charging.


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In a significant move that underscores the growing importance of the gaming sector in the Asia Pacific region, Ampverse, a prominent player in the gaming community and IP ecosystem, has announced the acquisition of Singapore’s gaming startup, Championify. This strategic acquisition is set to bolster Ampverse’s position in the game-tech solutions arena, catering to a diverse audience including brands, gamers, fans, and game publishers.
- Ampverse acquires Singapore-based gaming startup, Championify.
- Championify’s assets, including a proprietary gamification platform, to be integrated into Ampverse Labs.
- The collaboration aims to introduce innovative game-tech solutions in the Asia Pacific region.
- Ampverse Labs, led by Sascha Jochum, focuses on bridging the gap between brands and gaming audiences in Southeast Asia and India.
- The Asia Pacific region dominates the global gaming market with revenues surpassing $84 billion USD in 2022.
The acquisition will see Championify’s cutting-edge technology and intellectual property assets, which encompass a unique gamification platform, a reward mechanism, and a gaming product marketplace, being assimilated into Ampverse Labs. This integration is anticipated to fast-track the development of Ampverse’s proprietary products and services.
Zad Ngor Yan Da, the visionary founder of Championify, expressed his enthusiasm about the merger, stating, “Joining forces with Ampverse will pave the way for groundbreaking products and services that promise to revolutionize the gaming sector.” He further emphasized the shared objective of both entities to foster meaningful connections and offer immersive experiences to brands and communities across Southeast Asia and India.
Highlighting the potential of this collaboration, Sascha Jochum, director of Web3 and Ampverse Labs, remarked, “Championify’s commendable collaborations with reputed brands like Razer and Samsung position us to leverage their tech expertise, propelling our mission to redefine game-tech solutions in the region.”
Ampverse Labs, under Jochum’s leadership, is committed to providing data-driven game-tech solutions that bridge the chasm between brands and their target audience in the burgeoning gaming markets of Southeast Asia and India. The lab is currently in the advanced stages of developing innovative products, including an interactive quest tool and a dynamic gamification solution, aiming to harness first-party data through state-of-the-art technological tools.
The acquisition comes at a time when the Asia Pacific region is witnessing an unprecedented surge in the gaming sector. A recent study by TotallyAwesome’s Youth-first Digital Insights revealed that the region is not only the world’s largest gaming market but also boasts a nearly equal gender distribution among gamers. With 46% of Gen Alpha girls and 54% of boys finding comfort in gaming, it’s evident that the gaming culture is deeply ingrained in the younger generations.


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Apple announced a new feature for iPhones called Lockdown Mode on Wednesday just hours after Hunter Biden’s iPhone and iCloud data was allegedly hacked by 4Chan users and spread across the internet.
The Biden data from the phone reveals videos of Hunter arguing with hookers over how much crack he has, along with more illicit pictures and criminal activities.
The new Lockdown Mode is intended for high profile users such as politicians and activists who may be targeted by state-sponsored hackers.
Lockdown Mode turns off several features on the iPhone in order to make it less vulnerable to spyware by significantly reducing the number of features that attackers can access and potentially hack.
According to Apple, the tech giant will pay up to $2 million to researchers who find a flaw in the security Lockdown Mode.
The iPhone maker has faced increasing calls from governments to address the issue, but the timing right after Hunter Biden’s iCloud backup is hacked is super special isn’t it America?


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This week, I noticed something strange in my community. I went to get some groceries at the local grocery store and dollar store, and I saw a new sign hanging on the door. The dollar store had the same sign. Even A&W has a sign on their door too!
According to these signs, people aren't getting dressed anymore. They're rolling out of bed and going to these stores wearing next to nothing. Or, they're walking over from the beach and roaming the stores barefoot and in swimsuits. No matter the reason, businesses aren't liking people walking in without clothes. And they're asking you nicely to put some on before you shop.
It's not illegal, but companies can still refuse service if you don't follow their rules
According to The Barefoot Alliance, there is no federal law that people wear shoes in most places. Some places on the East Coast have laws saying you need to wear shoes, but most states don't. So why are we seeing so many stores requiring shirts and shoes before you can walk inside and shop?
It's because companies are free to make a dress code before letting people inside their stores. Companies can refuse to serve you as long as their dress code doesn't actively discriminate against religion, race, or national origin. There isn't a federal law against LGBTQ discrimination, but most companies already enforce non-discrimination policies against the LGBTQ already.
Think about it like this. If a woman goes to the store wearing a hijab, a business can't kick her out of the store for wearing a hijab. That would be discriminating against her culture or religion. However, if that same woman comes in barefoot, the company has a right to kick her out because it's against the dress code.
It brings up one more part of the conversation. Businesses have every right to turn you away if you come into their store without a mask if there is a mask rule in effect.
If you get turned away for not wearing a mask, it's violating a dress code
As the Delta Variant races through the country, some major corporations are enforcing masks in their businesses once again. As of now, it's only areas with high or substantial spread, but anything could happen during the rest of this year.
Masks aren't a sign of race, religion, or national origin. If you get turned away for not wearing one, you're not being discriminated against; the company is enforcing its dress code.
It's amusing seeing reminders all over town telling people to put their clothes on before going shopping. It's also a reminder that companies can enforce dress codes as they see fit, as long as they're not actively discriminating against anyone. Remember that the next time you want to walk around shirtless and shoeless.
This is original content from NewsBreak’s Creator Program. Join today to publish and share your own content.


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Collingswood designer among nation's best, but ...
For five years in a row, a Collingswood woman has placed among the 10 finalists in a nationwide competition to design wedding gowns.
But Susan Masarek Wilson has never won the grand prize, let alone finished in the Top Three.
That’s right: Always a bridesmaid and never a bride.
Or possibly, the Andy Reid of bridal fashion.
Wilson, though, is optimistic as she prepares for the July 20 finals in Manhattan.
“I would like to report back to you that I wiped my competition clean,” she declared.
Did I mention her gowns are made of toilet paper?
Well, they are — and yes, Wilson went there.
"I've heard them all," the 58-year-old mother of three assured me. "You're really on a roll. I must be flush with pride."
But the contest, sponsored by an online company for frugal fiances, is serious business.
More than 1,500 people entered this year's competition, the 13th held by Cheap-Chic-Weddings.com. It's billed — probably accurately — as "the toilet paper fashion event of the year."
The top three winners share $17,500, but the contest also delivers a valuable message to couples planning weddings, says Wilson.
"It’s a way to bring awareness that there are ways to save money on weddings, so you don’t start out by being in tremendous debt," she said.
I first interviewed Wilson in 2014, when she was making her second appearance in the Top 10. My questions then focused mostly on her four-inch-wide fabric of choice.
This time around, I was interested in what drove her to compete again and again.
“I do it because it’s a challenge," she explained. "It's great taking something from a spark, from a concept, to something that will walk down the runway."
"I’m an artist, I always have been,” said Wilson, who's also worked in catering and nursing.
"Every time someone looks at something I’ve created and goes, 'Wow!', I love that feeling. I love being able to give it to others."
The dresses, which typically take a year to complete, are their own challenge.
Contest rules require designers to create "a wearable, on-trend wedding dress and headpiece from only toilet paper, glue, tape and needle and thread."
“You just visualize the completed concept," explained Wilson, who also makes exhibit gowns from household trash. "You see it done and then you work backward if you have to.
"That's the problem-solving, the engineering.”
She feels good about this year's entry, a Quilted Northern sheath with a matching full-length cape, each trimmed with an incredibly laborious 14-inch hem suggesting a city skyline.
"This year's theme is 1968," said Wilson. "It's a very sleek, clean, sophisticated look, and it’s topped by a pillbox hat that evokes Jacqueline Kennedy.”
"I'm always thinking this might be the year," said Wilson.
And if it's not?
"I'm already thinking about next year," she said. "I'm going to keep trying until I get it."
Jim Walsh's column runs in print Fridays. Reach him at firstname.lastname@example.org or (856) 486-2646.


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Free Wi-Fi, mobile apps among Buccaneers’ recent tech upgrades
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While plans for a new team store and improved concessions at Raymond James Stadium are still in the works, as reported by the Tampa Bay Business Journal, the Tampa Bay Buccaneers have made improvements to technology throughout the facility.
This season, the team introduced free stadium Wi-Fi.
Offered free of charge with no password required on game days, the Wi-Fi allows fans to access scores and get information about action on the field, the Bucs said in a website post.
The Wi-Fi provides access to the team’s official mobile app, a tablet and smartphone app described in detail here.
The goal is to maximize the game day experience for fans, a Bucs spokesman said.
A Wall Street Journal report published this summer sheds further light on free Wi-Fi, new apps and other improvements designed to fill stadium seats across the NFL.
The Bucs also use iPad playbooks for players and iPads for NFL Draft scouting, among other technology.
Margaret Cashill's beats include technology, hospitality, retail and restaurants.
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One of India’s leading DTH service provider, Dish TV has partnered with MX Player. The partnership between the two parties is to bring customers a seamless experience in terms of accessing and consuming content. MX Player has been India’s best entertainment app of 2019 as per reports from FICCI. There are some of the most demanded web-series in the MX Player. One thing which makes MX player a solid contender in the content market is the fact that they have their original shows. Dish TV partnering up with MX Player can give both the parties access to each others user base and ultimately more people will be able to consume a wide area of content. The Dish SMRT Hub and d2h Stream Android TV STBs now come preloaded with MX Player app.
Dish TV Continues to Add Android Apps
Dish TV has been continuously adding new Android apps into its portfolio. Now, association with MX Player means the DTH operator has provided its users with yet another Android app for content streaming. This means the users of Dish TV can now access and stream movies, music videos and TV shows which are in MX Player.
One of the most popular apps offered by Dish TV today is ‘Watcho’ which also has a variety of content. The content is available in multiple languages to cater to the needs of almost every Indian who is streaming content online.
Strategic Partnership has Made Dish TV India and MX Player Happy
Mr Anil Dua, the Group CEO and Executive Director of Dish TV India Limited said that this partnership with MX Player is going to benefits the DTH operators user base who are using Android boxes in their homes. Now they will be able to access even more content available in different languages. MX Player will come as an in-built app for the users.
At the same time, Mr Abhishek Joshi, Head of Marketing & Business Partnerships at MX Player, said that they are pleased with the partnership with Dish TV. Until now, they were able to provide the content only to users with Android phones and tablets. But now, they will be able to reach across more Indians with the help of Dish TV who primarily watch content on their TV only.


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Just when you thought you’d prevailed through the diet-sabotaging holiday season (Pumpkin pie! Christmas cookies! Champagne!) and actually made progress on that health-related New Year’s resolution, there’s another temptress in town.
That’s right, it’s Restaurant Week — the irresistible combination of great food and great deals. But Restaurant “Week” is really a misnomer because diners don’t have just a mere seven days to partake. With prix fixe lunch and dinner menus at participating restaurants, it’s the ultimate opportunity to sample new options on the dining scene or finally make a reservation somewhere pricier than your budget usually allows.
First up in the 2013 Winter Restaurant Week season is Baltimore County, where the promotion begins Friday and runs through Jan. 27 with about 45 restaurants offering one, two or three courses for between $10.13 and $35.13. Among this year’s participants are McFaul’s Ironhorse Tavern, The Peppermill Restaurant & Lounge, Mari Luna Latin Grille, Friendly Farm Restaurant and Artful Gourmet Bistro.
If none of Baltimore County’s offerings pique your interest, head on down to Howard County, where about 20 restaurants are participating in their own promotion from Jan. 14 through Jan. 28.
Howard County Tourism & Promotion chose a global theme for the event, asking restaurateurs to incorporate international flavors into their special menus, which may include one to four courses, priced from $10.13 to $40.13.
Choices range from German-style bratwurst and beer-braised pork belly at The Elkridge Furnace Inn to Parmesan encrusted swordfish at Ranazul Tapas.Wine.Bistro.
Other participating Howard County restaurants include Portalli’s in Ellicott City, Baldwin’s Station in Sykesville, Victoria Gastro Pub in Columbia and the newly opened The Ale House Columbia — where the price also includes a 10 oz. Oliver Ale pairing.
Calendar completely booked for the next two weeks? Never fear, foodies. Baltimore City Winter Restaurant Week begins Jan. 25 and lasts through Feb. 3. To sweeten the deal, discounted parking is available at city-owned garages during that period.
With about 65 participating restaurants — in every neighborhood of the city, specializing in every imaginable cuisine — you might as well let temptation win this round. Three-course dinner menus will be priced from $20.13 – $30.13. Some restaurants will also offer a two-course lunch menu for $15.13.
Options abound: Try the mojito mussels (?!) at Alchemy in Hampden, dig in to decadent pappardelle d’anatra (ribbon pasta with braised duck) at La Tavola Ristorante Italiano in Little Italy, or savor butter rum shrimp and grits at Salt Tavern in Fells Point.
(Reading these menus is like entering a black hole. I need to stop.)
Several other Maryland jurisdictions have upcoming versions, including Bethesda-Chevy Chase (Jan. 24 – Feb. 3); Annapolis (Feb. 25 – March 3) and Frederick (March 4 – 10). Metropolitan Washington Restaurant Week, from Feb. 4 – 10, also counts many Maryland eateries among its 200 or so participants.
If the culinary delights aren’t enough to tempt you to participate, maybe the economic benefits will. By stopping in to local eateries, you play an important role in boosting the regional economy during a typically slow time for the restaurant industry.
Restaurant owners have said the promotion helps broaden their customer base because it encourages first-time visitors to step through the door. That’s critical, they have said, because snagging new customers is often more difficult than retaining existing ones — particularly at pricier, fine dining establishments.
Bring on the first course.


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Balandar Posted September 22, 2016 Share Posted September 22, 2016 "The Battle.net name is no more. Today Yesterday Blizzard announced that it’s moving away from using the Battle.net moniker when referring to its online services. “Battle.net technology will continue to serve as the central nervous system for Blizzard games — nothing is changing in that regard,” the company wrote in a forum post. “We’ll just be referring to it as Blizzard tech instead.”" Read more at: http://www.theverge.com/2016/9/21/13005162/blizzard-battle-net-name-transition Quote Link to comment Share on other sites More sharing options...
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With a plentiful supply of livestock manure, compost and cover crops, the Northeast states may provide prime organic crop production land. That's because nitrogen is one of the most limiting factors of organic crop production, suggests a study by McGill University of Montreal, Canada and the University of Minnesota.
The study, published recently in Nature journal found that organic crop yields average 25% less than conventional crops. It compiled results from 66 studies across 34 crop species.
But results varied by crop. Organic fruit, perennials and legumes like soybeans, for example, nearly matched conventional crop yields in rain-watered applications. But organic cereal crops yielded 26% less and organic vegetables were 33% lower. The differences were even greater on irrigated acres. Part of the reason is that those cereal crops and vegetables require more plant nutrients – nitrogen, phosphorus and potassium.
The biggest challenge for organic production is getting enough nitrogen to the crops that need it, says Verena Seufert, the lead researcher at McGill University. Organic crops rely on manure, compost or cover crops – in plentiful supply in the Northeast. Another challenge is controlling weeds and pests in organic fields.
An even bigger question in all of this is: Can we produce enough food to feed an estimated 9.5 billion people by 2050? While some contend conventional agriculture is not sustainable, organic agriculture cannot produce enough food.
The answer may lie somewhere in between, what Seufert describes as a "hybrid system" utilizing management practices from both systems. That's what many would call "sustainable farming".


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China has banned all cryptocurrency transactions
China's central bank announced on Friday that all cryptocurrency transactions in the country are considered illegal financial activities, which has shaken the world market
Photo Credits: stock.adobe
Ten Chinese regulatory agencies, including the central bank, imposed a comprehensive ban on cryptocurrencies in the country this Friday. According to them, all cryptocurrency transactions in China are now considered illegal financial activities. This includes mining, which has been banned before, but also payment, buying and selling, and virtually all activities related to digital currencies.Why is bitcoin falling?
This announcement led to a drop in the value of the world’s leading cryptocurrency, bitcoin, by about 6% in just one hour. During the day, the price of bitcoin dropped from almost 45 to just over $ 41,000, only to partially recover later. A similar curve has been experienced by all the leading cryptocurrencies in the world.
China is one of the world's largest markets for cryptocurrencies, or at least it has been so far. Its residents often turned to bitcoin due to distrust of the domestic financial system and the official currency. Also, until recently, China was a place where large mining facilities were located, but they were banished from that country this summer.
Cryptocurrency bans in China have been in force, in various forms, since 2019, when cryptocurrency trading was first banned. But the Chinese continued to trade them almost unhindered through foreign exchange offices. This year, in addition to the ban on financial institutions trading in cryptocurrencies, the order for banks not to allow private individuals to buy cryptocurrencies came into force. At the same time, the ban on mining has been tightened.Comprehensive ban
Now, according to the latest decisions, the Chinese are no longer allowed to trade cryptocurrencies, and they are considered illegal, and a means that must not be used on the market as money. The Chinese are also banned from doing business with foreign exchange offices, but the regulations do not explicitly prohibit the possession of cryptocurrencies.
As reasons for their harsh decisions in this area, the Chinese authorities state that bitcoin and other cryptocurrencies are used for speculative investments, various criminal activities such as gambling, money laundering, fraud, pyramid schemes, and the like. Regulators' concerns for citizens are also highlighted, as cryptocurrencies are an inherently insecure investment that can significantly jeopardize their financial security and assets. One of the reasons for the ban is certainly the fact that the Chinese monetary authorities plan to introduce the so-called digital yuan, its own cryptocurrency that would be complementary to the existing official currency. It is currently in the testing phase.
By: Olivia J. - Zexron


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China and the United States have begun imposing additional tariffs on each other’s good.
A new round of tariffs took effect from 0401 GMT, with Beijing’s levy of 5 per cent on US crude marking the first time the fuel has been targeted since the world’s two largest economies started their trade war more than a year ago.
The Trump administration will begin collecting 15pc tariffs on more than $125 billion in Chinese imports, including smart speakers, Bluetooth headphones and many types of footwear.
In retaliation, China started to impose additional tariffs on some of the US goods on a $75-billion target list. Beijing did not specify the value of the goods that face higher tariffs from Sunday.
The extra tariffs of 5pc and 10pc were levied on 1,717 items of a total of 5,078 products originating from the United States. Beijing will start collecting additional tariffs on the rest from December 15.
On Monday morning, US stock futures slid 0.7 percent, setting a dour tone for Asian markets. Japan’s Nikkei slid 0.28 percent in early monring trade, while Hong Kong markets were also down after another weekend of violent anti-government protests


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Sime Darby Auto ConneXion (SDAC), the sole distributor for Ford vehicles here in Malaysia, today unveiled a new special edition model for the Ford Ranger pick-up truck here in Malaysia, called the WildTrak Sport Special Edition.
According to the company, the special-edition model will only be offered in limited units across the country, and is priced at RM158,388 on the road and without insurance, making it around RM6,000 pricier than the regular WildTrak variant.
As the name suggests, the new special edition model is based on the existing WildTrak variant, but elevated with several variant exclusive design elements, both inside and out.
Starting from the outside, the new WildTrak Sport variant comes equipped as standard with a new front grille design, alongside blacked-out wing mirrors, door and tailgate handles, as well as the 18-inch alloy wheels.
Moving inside, the new Ford Ranger WildTrak Sport gets a set of new illuminated scuff plates by the front door featuring the ‘Ranger’ lettering, new leather seats with bright orange accents, as well as the new orange stitching on the steering wheel.
All of the mechanicals, however, remain unchanged from the regular WildTrak variant. Underneath the bonnet is the same 2.0-litre Bi-Turbo diesel engine, that is mated to the same 10-speed automatic gearbox to send 213 hp and 500 Nm to all four wheels.
Also unchanged from the WildTrak variant are the advanced safety offerings, which includes autonomous Emergency Braking with vehicle and pedestrian detection, forward collision warning, as well as lane departure warning and assist.
Interested to check out the car in person? The new Ford Ranger WildTrak Sport will be on display at SDAC’s ‘New Normal’ roadshow at 1 Utama Shopping Centre, that will run from 8-12 December.
Despite it being a roadshow event, customers can also still enjoy the same offers by visiting any Ford authorised dealerships nationwide. Customers who book the new Ford Ranger WildTrak Sport within the 5-day roadshow period will also stand a chance to win a local getaway as the main prize, regardless if they place their booking at the roadshow or through a dealership.
Additionally, the roadshow activities will also be broadcasted through Facebook Live across several sessions throughout the day. Customers will stand a chance to win exclusive Ford exclusive merchandises, which will be couriered directly to their desired addresses within Malaysia.


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“The sweets business is not exactly a cakewalk at the moment,” said Dietmar Kendziur, president of the German confectionary industry association.
“We would be happy if 2013 turned out like 2012,” he added. Last year the industry saw a 0.3 percent drop in turnover to €12.47 billion.
The German market is considered to be saturated, unable to take any more chocolate, sweets or biscuits – not even a wafer thin mint.
This left manufacturers looking to foreign markets for growth – in 2000 just a fifth of products were sold abroad while now that share is nearly half. But foreign markets seem to be losing their sweet tooth for German confectionary, and last year’s 1.68 million tonnes exported was four percent down on the previous year.
It is not as if Germans have suddenly turned to healthy alternatives from chocolate and sweets – they are reaching for more crisps and other salty snacks instead, Kendziur said. He blamed the European football championship for this development.


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From July 26th until September 24th 2015, the RTA has announced some discounted costs of buying the special personalised Nol cards. Discounts are up to 50% and they include the Blue Nol card as well as the Personalised Nol Gold card and Nol cards with special designs.
The Blue Nol card is reduced from the normal price of 70 dirhams to 35 dirhams.
This weekend, to help with the additional traffic that is expected due to Eid celebrations, the RTA have announced that the Dubai Metro will be opening earlier than usual and will start operations on both the green line and the red line at 10am on Friday.
Operating hours for the long Eid weekend are as follows:
Friday 17th July 2015 – 10 am until 2am (Saturday)
Saturday 18th July – 5.50am until 2am (Sunday)
Sunday 19th July – 5.30am to Midnight (Red line) and 5.50am until midnight (Green line).


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Well, ain’t this a co-inky-dink. The developer for the latest scheme in stealing, the guy who made the PS3Jailbreak software, is urging potential buyers to get their thieving software straight from the source and not from “imitators or Chinese knockoffs.”
For the unaware, this PS3Jailbreak software comes preloaded on a USB stick you can purchase and use to make backups of Blu-Ray DVDs and play home-brew games right on your PS3.
Digital Foundry (on Eurogamer) has an excellent read on the subject, so I suggest that you take a trip over there and read the article.
Funny how all it’s going to take is one update and anyone who spends the $130 this guy is asking will have been better off flushing their money down the toilet. As far as the industry itself goes, Sony has yet to make comment of the situation.
As always, we here at The Gaming Vault urge you to play paid-for games – new, used, borrowed – it doesn’t really matter to us. Support the industry and the developers who put their efforts into giving you home entertainment.


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Deloitte released its annual global Millennial survey — also featuring Gen Z insights — that highlights general attitudes and workplace behaviors.
ASDA’A BCW shares its survey of youths aged 18-24 in the Middle East and North Africa.
Comscore examines how Gen X, Gen Z, and Millennials consume digital news in the US and the UK. Learn the differences of consumption by each generation and how publishers can prepare for the future.
Clever Real Estate provides insights into Millennial media habits, as well as ways to connect with them over digital channels, in its newest survey results.
GlobalData examines trends in global millennial travelers with a focus on markets in the USA, China and India.
Baby Boomers and Millennials aren’t that different in how they spend and think about money, according to Morning Consult.
The National Association of Realtors highlights differences and similarities of home buyers and sellers across generations.
SmarterHQ asked Millennials about their shopping habits and marketing preferences, revealing best practices for reaching them through email.
Deloitte provides insight into the media habits of U.S. consumers by generation in its annual report.
Viant outlines the best ways brands can connect with African American Millennals and lists their preferred brands in a variety of categories.
Realtor compares Millennial, Gen X, Baby Boomer, and Senior home buying behaviors and mortgage insights.
Mintel examines the grocery shopping behaviors and preferences of African American, Hispanic, and Millennial consumers.


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Thai economy to continue growing despite weaker-than-expected Q2: central bank
DESPITE a weaker-than-expected second quarter, Thailand’s economy is expected to continue growing in the second half of the year as tourism picks up, the central bank said on Tuesday, suggesting gradual policy tightening may continue.
Second-quarter growth missed the central bank’s forecast due to lower-than-expected private investment and inventories, but other elements overall were better than expected, including exports and tourism, Assistant Governor Piti Disyatat told TNN News.
“The picture reinforces that the economic recovery has begun,” he said.
In April-June, the economy grew 2.5 per cent from a year earlier and 0.7 per cent from the previous three months.
In June, the Bank of Thailand (BOT) forecast economic growth of 3.3 per cent this year, with foreign tourists seen at 6 million. But it recently said growth could beat its forecast as there was some upside to its foreign tourist projection.
The government’s planning agency forecast 9.5 million foreign tourist arrivals this year. There were nearly 40 million foreign visitors to Thailand in 2019 before the pandemic hit.
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Business insights centering on South-east Asia's fast-growing economies.
A global economic slowdown should have a limited impact on the Thai economy as the recovery of tourism has not historically been very sensitive to the global economy, Piti said.
Inflation is likely to be higher in August before gradually falling but should still be close to forecasts, he said.
The BOT has forecast headline inflation of 6.2 per cent this year and 2.5 per cent next year, compared with its target range of 1 per cent to 3 per cent.
Headline inflation was 7.61 per cent in July, around a 14-year high.
Last week, the BOT raised its key interest rate for the first time in nearly 4 years, by 25 basis points to 0.75 per cent, to curb inflation and signalled further gradual hikes.
“Gradual policy tightening will allow for a gradual rate transmission, helping the economic recovery and reducing the impact on vulnerable groups,” Piti said. REUTERS
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Spanish internet service provider Jazztel has struck an agreement with Warner Bros to include Warner titles as part of its video-on-demand service.
The deal will see titles such as The Dark Knight, The Curious Case of Benjamin Button and Gran Torino, as well as library titles such as the Matrix trilogy and Batman made available to Jazztelia TV customers.
Jazztels 20Mbps ADSL customers can now upgrade to Jazztelia TV for an additional Â3 a month, which includes rental of a hybrid IPTV/digital-terrestrial set-top and access to the video-on-demand service.Â
ICYMI: Apple TV+ launches overhauled website digitaltveurope.com/2021/01/15/app… https://t.co/r2g95BCAAk
16 January 2021 @ 19:00:00 UTC
Don't miss the chance to share your videos on the future of digital video in the Digital TV Europe Industry Survey… twitter.com/i/web/status/1…
16 January 2021 @ 16:00:01 UTC


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A Web 2.0 company called [WeBook](http://www.webook.com), based in Bethesda, Md., launched yesterday a beta version of its service that allow writers, editors, reviewers and illustrators to collaborate online on books.
No publishing companies needed, and the works will be sold at online retailers such as Amazon.com and Barnesandnoble.com, in addition to WeBook’s site. You can even preview chapters of the site’s book via mobile phone texting or a mobile Web browser.
In a statement, Sue Heilbronner, president of WeBook, said the site could be the Linux of the publishing world.
Perhaps the name of the site should be Wikinovelpedia.


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One of the biggest trends in social apps has been ephemeral massaging capabilities, or sending messages via social channels that are wiped out after a certain amount of time. This week Secret.li became the latest app to enter the iOS space.
Snapchat is arguably the most well-known, self-destructing messaging system, but it is still very much a consumer-to-consumer platform. Secret.li, on the other hand, is including brands into its user-base strategy. That is not to say other platforms are unwelcoming to brands. Unilever, for example, has been experimenting with Snapchat for some of its many brands, which include Axe, Ben & Jerry’s and Dove. Still, Deepak Tewari, the founder of Secret.li, has indicated that targeting brands is a high priority for the emerging app.
“We can really see a huge benefit for brands and celebrities in using Secret.li,” Tewari said, in a statement. For household names, musicians and footballers, Secret.li offers a new way to engage on a personal basis with their fans by offering a sneak peak of their latest album cover, photo shoot or one from their everyday lives.”
If you are on the fence about ephemeral messaging apps for your brand, then here are three things you should know about Secret.li:
1. Secret.li messages have a fixed expiration of one hour, one day or one month. This is different from Snapchat and other platforms that typically allow viewing to last just a few seconds. This is good for brands that want to ensure their message is fully consumed.
2. Not only is viewing time different, but the countdown is different, too. Unlike Snapchat, which starts the clock when a recipient opens a message, Secret.li’s clock starts ticking as soon as the message is sent. This is ideal for brands that want to engage in time-sensitive social media campaigns. A countdown to view an image or a message has real sense of urgency associated with it, and brands should look to create buzz around the expiration to leverage excitement.
3. Unlike other platforms, rich media can be uploaded into Secret.li, thus allowing brands to effectively craft a tailored message. While the illusion of spontaneity can be advantageous, it is much easier to stay on message with a well-planned appeal.
So, does Secret.li hold any appeal for your brand messaging?
Follow Caysey Welton: @CayseyW


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In a negative prelude to its fourth quarter earnings report due later on Tuesday, Yahoo confirmed it is cutting one per cent of its global staff, or about 140 employees.
"The personnel changes we are making are part of our ongoing strategy to best position Yahoo for revenue growth and margin expansion and to support our strategy to deliver differentiated products and experiences to the marketplace. We'll continue to hire on a global basis to support our key priorities," a Yahoo spokeswoman said via e-mail.
It's the second round of layoffs for Yahoo in as many months. In December, Yahoo laid off 600 people, or about four per cent of its global staff at the time.
Yahoo ended its third quarter on Sept. 30, 2010 with 14,100 employees and grew its revenue two per cent year-on-year to $US1.6 billion.
Google, on the other hand, announced on Tuesday that it expects to hire more employees in 2011 than in any other year in its history. Google's biggest hiring year to date was 2007, when it created more than 6,000 jobs.
"We're looking for top talent -- across the board and around the globe -- and we'll hire as many smart, creative people as we can to tackle some of the toughest challenges in computer science," wrote Google Senior Vice President of Engineering and Research Alan Eustace in a blog post.


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Video advertising specialist Adap.tv has named five new members of its EMEA team as it expands its European operations.
Adap.tv has named Ian Tinson to the new role of director of client services, EMEA. Tinson was previously head of EMEA ad operations at Xaxis.
Darryl Thomas, who also previously worked at Xaxis as ad operations manager for EMEA, has been named as senior ad operations manager, EMEA.
Loïc Dussart, previously international sales manager at Dailymotion, has joined Adap.tv as account manager, EMEA.
Richard Rowe has moved from SmartClip to become senior publisher account manager, while Ismail Quasimali has joined from Criteo, where he was integration and support engineer, to become technical services manager at Adap.tv.
“The ongoing uptake of programmatic buying in the UK market and the increase in demand from our clients has led to us significantly building out our technical team,” says Brian Fitzpatrick, managing director of Adap.tv Europe. “The experience that Ian, Darryl, Loïc, Richard and Ismail bring will be invaluable to our offering and will ensure that we can fulfil every element of our clients’ campaigns.”


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updated - August 14, 2020 Friday EDT
Retailer guarantees that there is no profit on the warranties bundled with appliances like freezers, washing machines and fridge.
The company's appliances website is to stir up the controversy on extended guarantees sector through selling premiums at cost value.
The strategy is not that effective for online competitor AO.com and the Dixons Carphone since the income on extended warranties is an expensive add on in a sector with very thin earning.
Co-op is trying to renew its credentials following financial issues with the bank, plus the Paul Flowers controversy.
The managing official of the brand, James Holland commented, "a huge number of customers look for support given by the extended guarantees. But we are confident that this sector should be easy to comprehend. Normally, it's just way too pricey."
He assured that retailer will not get any profit from the premiums they are selling on electronics. In the previous year, the Co-operative Electrical sales were fantastic. Founded in 2001, it is the country's most stable online appliance retailer.
The competitor AO.com, with profit of roughly 290p million from its own site, did poorly in the beginning.
One out of five consumers purchase add-on insurance however there are cases that the price of the premium is almost the same as the value of the appliance.
An interrogation done by the Office of Fair Trading last 2012 discovered that consumers failed to get the value of their money and also other issues regarding the warranty itself.
"In line with our company's mission, we are trying our best to serve the clients through selling our premiums at cost value which can give them extra benefits which will also make them at peace," as Holland explained.
In the previous week, the organization's chief executive official said that it is now stable however half of the entity, which was established for over 150 years in the industry, was washed out by the crisis.
To help out with the financial issues, the company sold some of its divisions such as its pharmacy business.
TOP 10 FRANCHISES OF 2020


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Major League Baseball's licensing wing has settled a lawsuit it filed against a baseball card maker for allegedly stealing trademarks.
Major League Baseball said Wednesday that The Upper Deck Co. Inc. had settled the trademark lawsuit by agreeing to pay its licensing wing more than $2.4 million on sales of licensed cards in 2009.
Upper Deck also agreed to pay MLB licensing agent Major League Baseball Properties an undisclosed sum for sales in 2010.
The lawsuit filed in federal court in Manhattan had alleged that Upper Deck sold baseball cards featuring professional baseball players even though the company was no longer licensed to show MLB trademarks.
Robert Lloyd Raskopf, a lawyer for the Carlsbad, Calif.-based Upper Deck said, "we're very pleased we were able to resolve it."


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United Kingdom-based EG Group has entered into a binding agreement to acquire Cumberland Farms Inc., the Westborough, Massachusetts, c-store chain that operates about 600 convenience and fuel retail stores in eight states, mainly in the Northeast but also in Florida.
The companies did not disclose the terms of the deal but said EG Group would retain the Cumberland Farms brand.
Having had no presence in the U.S. prior to April 2018, EG Group, with the purchase of Cumberland Farms, will grow its network to nearly 1,700 stores across the country, operating in 30 states and retailing more than 2.5 billion gallons of fuel with merchandise sales of more than $3 billion on an annualized basis. The Cumberland Farms acquisition will boost EG Group into the top five U.S. c-store chains in terms of store count behind 7-Eleven, Couche-Tard/Circle K, Speedway and Casey’s General Stores, according to NACS industry data.
With U.S. headquarters in Cincinnati, Ohio, EG Group has been on an acquisition spree. In 2018, it entered the U.S. market when it bought Kroger’s c-store network of more than 700 stores, and it further expanded by acquiring more than 200 Minit-Mart c-stores from TravelCenters of America. So far this year it has inked deals for c-stores held by Fastrac Markets, Certified Oil and now Cumberland Farms. The latest deal will expand EG Group’s U.S. network to nearly 1,700 c-stores in 30 states, selling more than 2.5 billion gallons of fuel and recording more than $3 billion in merchandise sales, the company said.
Zuber Issa, founder and co-CEO of EG Group, said in a statement, “Over nearly eight decades, the Haseotes family have built Cumberland Farms into an outstanding portfolio of large, modern facilities run by a team of associates who are connected to the communities they serve. It is rare that an asset of this quality becomes available, and we are delighted to have been successful in a highly competitive process. We look forward to welcoming the talented team at Cumberland Farms into the EG family.”
We very much look forward to becoming part of the EG family, as it is clear that both Cumberland Farms and EG Group share a common vision for excellence in convenience retailing and commitment to investment in our people. Ari Haseotes, president and CEO, Cumberland Farms said, “We very much look forward to becoming part of the EG family, as it is clear that both Cumberland Farms and EG Group share a common vision for excellence in convenience retailing and commitment to investment in our people.”
Founded in 2001, EG Group operates nearly 5,400 stores, in nine countries with more than 35,000 associates. Cumberland Farms employs approximately 9,000 people.
EG Group will retain the Cumberland Farms brand on all of the acquired stores and is actively considering the addition of Cumberland Farms products in EG’s wider portfolio. The deal will mark the latest in the consolidating c-store industry. Between 2015 and 2019, half of the 20 largest chains in the industry have gone through some sort of merger or acquisition, consolidating a major portion of stores with the largest chains, according to NACS 2019 State of the Industry Summit data.


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Sipahijala(Tripura): Tripura Chief Minister Biplab Kumar Deb launched the bamboo earthen lamps ahead of Diwali, festival of lights.
The chief minister in the programme, also launched organic sugarcane jaggery and homemade pineapple jam, all of these prepared by the Self-help group members.
The CM explained how the bamboo matures fast and carries the potential to maximise employment and income especially in areas of small scale industries and the state government is focusing on this sector. Their initiative was highly appreciated by CM Deb as it fulfilled PM Narendra Modi's vision of 'Atma Nirbhar Bharat' and his emphasis on the bamboo sector in his monthly radio talk 'Maan Ki Baat'.
CM Deb said that he was happy to know that the PM's vision has reached the corners of the remotest villages in Tripura.
Sugarcane jaggery and pineapple jam were created by using locally available raw products which fetches a good profit to the local farmers.
Purnima Nandi, member of SHG said her area is popular for pineapple production however, due to the lockdown, business was running low.
All SHG members and pineapple farmers approached the BDO (Block Development Officer) who recommended producing pineapple jam which would directly benefit the growers and the producers. "We have sold more than 300 bottles of pineapple jam already," Purnima Nandi said.
Majority of SHGs are run by women in Tripura and National Rural Livelihood Mission is playing a vital role in empowering SHGs by promoting self-employment in remote areas.


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Thirty squats will get you a free platform ticket at the Anand Vihar railway station in the national capital now as part of the railways' Fit India initiative.
In a first-of-its-kind scheme, the Indian Railways has installed a squat machine at the Anand Vihar station and 30 squats in front of it will generate a free platform ticket.
As part of the health initiative, the railways has also opened a "Dawa Dost" store at the station, a generic medicine store for passengers.
"Dawa Dost aims to make it easier for Indians to take care of their health and help them make substantial savings on their health bills by providing high-quality, affordable medicines. Dawa Dost supports the Indian government's stance on the use of generic medicines. The firm currently has 10 stores in Rajasthan and Delhi and plans to increase to 100 stores in a year and to 1,000 in the next four years," a statement issued by the railways said.
Other health-related amenities include a pulse health machine kiosk, which measures various health and wellness parameters (body composition analysis, blood pressure etc.) and gives indications of potential lifestyle diseases with personalised recommendations.
The railways has also installed a Robocura massage chair, the most advanced body massage chair that has 3D massage rollers, along with a longer massage track line giving maximum massage coverage, the statement said.
To promote healthy eating, the railways has also created a "Eat Right Station Certification", the main objective of which is to help passengers make healthy food choices.
"It aims to engage, excite and enable people towards their health and well-being. A 'Eat Right Station' audit was conducted at the Anand Vihar terminal in January and the station achieved the highest score of 92 per cent with a five-star rating. The station is the first 'Eat Right Station' under the Northern Railway," the statement said.
It added that the Indian Railway Stations Development Corporation Ltd (IRSDC) has provided these facilities at the Anand Vihar railway station.
First Published: IST


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Two in every three mobile phones sold in China in 2012 were powered by Google's Android mobile operating system, making it the single largest market for the platform. But the U.S. market is catching up, and doing so rapidly.
These are findings of research carried out by Informa Telecoms & Media. The figures make China the fastest-growing market, with a year-on-year growth of 85 percent over 2012, and with much of this growth being driven by high demand for Android handsets.
Android is also doing incredibly well in the U.S., which is currently the second-largest market for Android, with an 11 percent share. According to Informa’s research, this will increase to at least one in every two mobile phones sold during 2013.
It is estimated that around 786 million Android smartphone devices were sold worldwide in 2012.
"Despite the economic downturn, the global smartphone market is enjoying healthy growth and consumers are actually spending more to acquire more technologically-advanced devices. It is estimated that around 786 million smartphone devices were sold in 2012 (including the devices powered by non-certified variants of Android that are proliferating in China), which is 45% more than the total number of smartphones sold in 2011," wrote Malik Saadi, principal analyst at Informa Telecoms & Media.
Bear in mind that not all Android handsets sold in China can tap into Google's app and services ecosystem. In fact, according to Saadi, 41 percent are set up to support alternative application frameworks such as Baidu, Alibaba, Xiaomi, and other local channels.
Other players are scrabbling with single-digit sales shares. The iPhone was in second place with 5 percent, while Microsoft Windows Phone is stuck on 1 percent. Nokia's partnership with China Mobile is expected to be good for Microsoft, and is anticipated to bump its share in 2013 to 2 percent.
Things are not predicted to be so rosy for Apple, with Informa expecting it to lose market share slightly if Apple does not release a TD-LTE variant for the Chinese market. Even in the U.S., Saadi believes the iPhone could "face significant challenges if Apple does not manage to make radical changes to its aging iOS, particularly to the user interface (UI)."
The consequences on not being able to revamp iOS is that Apple could be forced to compromise the high margin associated with its iPhone in order to maintain volume share.
"Looking forward, Android is expected to continue gaining market share globally and, by 2015, one in every two handsets sold worldwide will be powered by it. However, according to Informa Telecoms & Media, the market share of this platform could potentially peak – or even decline – after 2016 owing to a more aggressive penetration of the alternative OSs, most notably Windows Phone," concludes Saadi.


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As September draws ever nearer, rumors are starting to circulate as to the date Apple will announce the iPhone 6s and iPhone 6s Plus. All of the smart money is on at least one of September’s 30 days, and a new report citing people familiar with Apple’s plans marks Wednesday, September 9th as the big day.
If that date sounds familiar, it is because September 9th was the date that Apple announced the current crop of iPhones as well as the Apple Watch, so there is obvious precedent. An announcement of the new hardware on the 9th and a subsequent release a couple of weeks later would fit Apple’s modus operandi.
The announcement, whenever it happens, will feature the new iPhone 6s and iPhone 6s Plus at the very least, and this new report also has Apple showing off its latest iPads, though it is unclear when they will be available to purchase. The oft-rumored iPad Pro is still an unknown, however, with little noise suggesting it will see the light of day at this event.
What is, however, very likely to arrive, according to the report, is the highly anticipated Apple TV refresh that has been in the pipeline for quite some time. Set to bring a whole new user interface to a newly redesigned Apple TV box, the updated product could see Apple finally give the Apple TV some much-needed attention having famously branded it a hobby at one point. Even if Apple does out its new set-top box next month, though, it is highly unlikely we will see anything of the rumored subscription TV service at the same time.
Apple’s iPhone announcements usually come bundled with some other new or updated product, and this year’s event is looking likely to be exactly the same. Whether you’re more interested in a new iPad or the redesigned Apple TV, there should be a little something for everyone come September 9th, assuming that date is correct.
You might also want to check out:
- Leaked Photos Show Fully Assembled iPhone 6s Display
- New Video Shows How Force Touch Could Work On iPhone 6s
- 12.9-inch iPad Pro Screen Resolution Revealed By iOS 9 Code
You can follow us on Twitter, add us to your circle on Google+ or like our Facebook page to keep yourself updated on all the latest from Microsoft, Google, Apple and the web.


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How Data Security Remains More Than Just About IT Safeguards
The data security challenges brands face is growing by the day. Here are the factors they must address to protect their reputation and meet compliance targets.
While the internet has transformed the business world for the better, it has also created a host of new issues for organizations to consider.
Having an online presence has become a fundamental for many companies, but even establishing a website brings with it a host of potential issues. For example, you may need support on something as straightforward as design, while there is also the question of whether it would be suitable to support it with some social media accounts.
However, one absolutely essential issue that businesses have to address when running a website is how both company and consumer data will be properly protected. Addressing the matter is imperative and that means taking a host of actions to prevent precious or sensitive information from falling into the wrong hands.
A range of tactics
This can mean different things in different sectors. With banks, for example, it includes using a range of methods including card readers that are compatible with smartphones and tablets to ensure that any payments remain secure. The online casino industry is also a sector which needs to take the issue of security seriously, with such sites using a range of encryption protocols to ensure an individual’s money is secured when purchasing casino credits online. In addition, Apple also operates two-factor authentication on its Apple IDs, a system which is designed to ensure that only the holder of the account can login even if someone else knows their password. The concept means accounts can only be accessed on devices which are trusted and, when people want to sign into a new one, they have to provide a password and a verification code.
In addition, many people are taking new approaches to the issue and are even coming around to the idea of sharing biometric data with businesses in order to boost their online security. A study by Unisys revealed that 51 percent of Europeans would be happy to use such information to be more secure while on the web. A third also said they would be open to doing it to access government or banking services.
While it is encouraging to see new approaches to security being considered by consumers and many sectors taking a range of steps to keep information safe, a new study has provided a reminder that IT security is about much more than just having the right systems in place. In fact, it has suggested that such technologies may have little impact if employees are ultimately unaware of their data security responsibilities.
According to GDPR:Report, data security company Clearswift’s research saw 600 business decision-makers and 1,200 employees based in the UK, US, Germany and Australia polled for their views on security issues, with 45 percent of workers admitting that they had accidentally sent emails featuring personal information, bank details and other confidential details to the wrong person. In addition, 27 percent of employees added that they had been the recipient of personal information sent from outside their company, with 12 percent adding that they had even been sent personal bank details.
While 45 percent of those polled said they would tell the sender about the error, only 27 percent admitted that they would actually delete the email – an issue which raises obvious data protection and security issues. In addition – and perhaps most worryingly of all – more than a fifth of those questioned during the survey added there was no process in place within their organization as to how they should act when such issues arise.
Dr. Guy Bunker, the senior vice-president of products at Clearswift, said GDPR and the focus on shared responsibility had made such issues very important and added that companies “need a clear strategy” which covers “people, processes and technology”.
An issue to be addressed
The findings of the Clearswift report support another study undertaken last year. According to the research by Clutch, 94 percent of large businesses in the US have a cybersecurity policy, with a number focusing on the use of communication rather than the enforcement of consequences to promote and implement them within their organization.
The new Clearswift study clearly suggests there is still much more for businesses to do in order to ensure that precious information is not leaked to unintended parties – and it could ultimately be the case that companies have to be firmer on ensuring that employees are following their policies.
Ultimately, while having the right technology in place is vital, it is also important that security becomes a core part of the culture within a business.
Data security is a top concern for 2018 and beyond
A growing number of brands are concerned about data protection in the years ahead. Unfortunately, conventional approaches have proven to be less effective than most experts believed. The good news is that new studies are highlighting the deficits and helping them tackle these mounting challenges.
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PETALING JAYA: Egg and poultry producer LAY HONG BHD is close to buying a stake in a listed logistics company as it seeks to enter the e-grocery and same day delivery business in Malaysia.
Sources say this will be a new revenue stream for Lay Hong, as it is seeing signs that e-grocery business is gaining momentum in Peninsular Malaysia.
The move by Lay Hong is not surprising considering that it has been looking to solve its last mile delivery issue and build an e-grocery presence for its growing processed food division.
According to sources, the logistics company that Lay Hong was looking at has some 12 transhipment points within the Klang Valley, Penang and Johor.
“It also has a partnerships with convenience stores and has some 1,000 drop points throughout Malaysia,” said the source.
“The logistics company is in the process of constructing a 200,000 sq ft warehouse that will be ready by next September.
“Furthermore, this warehouse will also contain a cold room facility which is perfect for Lay Hong’s food delivery plans.”
The source added that it made more business sense for Lay Hong to buy into this logistics company which already had existing infrastructure, rather than to fork out some RM100mil to invest in a new warehouse from scratch.
“Lay Hong simply needs a platform to fulfil its last mile delivery. By virtue of this need, logistics will be a new revenue stream for Lay Hong.
“This platform isn’t just for Lay Hong and will be offered as a service to other players looking to deliver their own products,” said the source.
Lay Hong’s e-commerce ambition was noticeable when in May, Panpages bought a 30% stake in Lay Hong’s grocery unit G-Mart Borneo Retail Sdn Bhd for RM10.75mil. Lay Hong has 16 retail stores in Sabah.
PanPages had said its rationale for buying G-Mart was to build up its online e-commerce business.
“The disposal of 30% of G-Mart will allow PanPages to participate in G-Mart’s equity and collaborate with Lay Hong in this changing marketplace for its online business,” Lay Hong had told Bursa then.
Lay Hong also owns a 26.37% in Panpages, one of the leading small and medium enterprise solutions provider in South-East Asia.
PanPages helps customers publish business content on a number of platforms, including that of Alibaba’s global trade portal.
PanPages’ online product offerings have been moving to serve vertical industries such as industrial products, health and beauty and now food and beverage.
Meanwhile, since the entrance of NH Foods Ltd, which is Japan’s largest meat packing company as a substantial shareholder in Lay Hong in 2015, Lay Hong has made huge strides in its processed food division. NH Foods owns a 21.77% stake in Lay Hong.
The joint venture between NH Foods and Lay Hong via NHF Manufacturing (Malaysia) Sdn Bhd, has seen them roll out five frozen processed food products, branded as Nippon Premium Nutriplus.
Lay Hong’s growing processed food division was a big contributor for its first quarter earnings to June 30, 2017.
Earnings jumped significantly to RM4.42mil from RM419,000 previously. Meanwhile revenue jumped 15.15% to RM183.03mil. The processed food division, which is housed under retail supermarkets, contributed some 20% to its topline.
For now, the contribution from the products from the collaboration with NHF has yet to be recognised in its first quarter results. It is purely from its current processed food division business.
Nonetheless, Lay Hong has commenced the construction of its new processed food manufacturing plant in Pulau Indah, which is expected to completed in September next year. This plant is meant to cater for the export demand in Japan.
Meanwhile on Lay Hong’s core business, the company is on track with its planned expansion to increase production capacity. Its egg production now stands at approximately 2.8 million eggs per day from 1.8 million eggs as of December last year.