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Hong Kong: The inaugural Global Industrial Capital Expenditure Survey, released by Arcadis in Hong Kong, concluded that the industrial manufacturing sector is optimistic about 2017. The study reported that nearly 90 percent of the executives surveyed judge that the outlook for their industry will either improve or stay the same over the next 12 months. Only 10 percent hold the view that the manufacturing sectors will get worse in 2017. However, when it comes to making investments in their production facilities, the respondents were most concerned about the availability of funding, the lack of available talent and increasing production costs.
The survey was conducted amongst more than 70 executives at industrial manufacturers spread across the globe, all with a responsibility for managing their company’s capital delivery programs. Together, the respondents represented companies generating over US$300 billion in revenues each year, spanning diverse industry sectors in manufacturing & technology, including automotive, pharmaceutical, chemicals, heavy industrials and consumer goods.
Executives also highlighted a number of challenges that they are facing in managing their capital investment projects. The top five challenges which trigger catalysts for change were found to be:
- Availability of finance
- Lack of available talent
- Increasing production costs
- Demonstrating return on investment
- Quality of product
The report explores the best practices required for manufacturers to overcome these challenges in light of the upcoming fourth industrial revolution. Also known as Industry 4.0, the fourth industrial revolution refers to the forecasted digitalisation of the manufacturing value chain from start to finish. Covering principles including cost modelling, improving asset flexibility and utilising a sustainable approach, the report highlights seven key steps to improving capital investment returns.


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Billionaire CEOs and right-wing pundits tell us that the soul-crushing nature of Barack Obama's relentless socialism is destroying individual initiative. Americans, however, apparently haven't gotten the memo:
Entrepreneurial activity is up 60 percent in the United States over last year, reaching its highest level since 2005, according to a new report.I have mixed feelings about this -- while survey respondents may say they're not starting businesses out of a desperate sense of "necessity," surely they're doing it because they can see that the economy still isn't creating enough jobs. And a lot of these businesses are going to fail (as many start-ups do in good and bad times).
About 12.3 percent of U.S. adults -- around 29 million -- are involved in entrepreneurial activity, the 2011 Global Entrepreneurship Monitor issued by Babson College and Baruch College reported.
This rise marks the the first uptick in Americans starting or running new businesses since 2008. The rate had been steadily falling for the past three years....
Fewer adults reported starting businesses out of necessity this year than last, signaling a shift in entrepreneurial motivation. "In the depths of the recession, we saw a tremendous increase in people starting businesses out of necessity. In 2011, the entrepreneurship rate was pulled up primarily by those starting businesses to pursue promising opportunities," Donna J. Kelley, Babson associate professor of entrepreneurship and lead researcher said....
But still: Fox-addled plutocrats may whine about the detrimental effects of Obama policies on their precious animal spirits, and Mitt Romney and his right-wing echo chamber may insist that Democratic policies are turning America into a country where everyone just wants free stuff, and yet here are all these people believing that the economy is getting somewhat better and actually practicing capitalism. Despite Obamacare! Despite subsidized birth control! Despite all that cradle-to-grave cosseting in the "Life of Julia" slideshow! (Which, by the way, depicts Julia at age 42 getting a small business loan.)
Don't these new entrepreneurs realize that capitalism is a delicate flower that wilts at the first contact with government spending? Don't they realize that the correct response to Obama policies by heroic capitalists is whining?

domain: news


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Britain’s economy is poised for recovery as the nation’s lockdown measures eased last week, with sales up 47% compared to the reopening of shops after the first lockdown in June. This has sent business confidence skyrocketing to its highest level in 13 years, with the success of the UK’s vaccination programme boosting hopes of a sharp recovery this year.
This boost in confidence has now translated into the sentiment among investors to invest in UK business, with many having faith that pent-up demand and post-lockdown spending will act as a springboard to recovery for our economy and will be a catalyst for future growth later this year. With private investors representing a key barometer of where the money is going post-lockdown, this will be welcomed news to Uk businesses as they look to capitalise this summer.
– 44% of investors are now looking to back UK-based companies, instead of global firms
– 19% of investors believe the coronavirus pandemic has opened more investment opportunities than it has closed
– Nearly half (45%) of UK investors will back green or sustainable companies in 2021
– 36% are backing stocks and shares an investment option
– 34% are investing in life sciences, including Biotech, Medtech & Pharma, a 160% increase from 2019
– 29% of UK investors will back online retail businesses and technology
– Over a quarter (27%) of investors are investing in property
– 26% will invest in Fintech
– 18% of investors will back the creative industries
– 16% are investing in the hospitality sector
– With 800,00 newly formed businesses in 2021, 16% of UK investors are backing start-ups
Luke Davis, CEO of IW Capital: “As 2021 began under a national lockdown, economists expected that the tight restrictions would have an impact on the economy in the first quarter, but the success of the vaccine roll-out and the reopening of shops and hospitality has given businesses confidence that the UK economy will rebound this year. Pent-up demand and post-lockdown spending will act as a springboard to recovery, playing a key role in the re-emergence of businesses and sectors across the country, and act as a catalyst for future growth.
“UK businesses have shown true resilience throughout the year and we have even seen the emergence of new businesses starting up, which is sure to create some exciting investment opportunities and will play a key role in the nation’s recovery. Investors now need to look towards these businesses in order to enable future growth post-pandemic.
“Working with both entrepreneurs and investors, there is a clear desire from the small business community for growth investment and to take a big step growth-wise in 2021. Small businesses grow by hiring and this sector will be key not only to growing the economy but also combating unemployment. Each problem or crisis will have winners and losers but those that are adaptable and in position to take advantage of the situation could see a big increase for business in 2021.
“People want to get out and spend, businesses want to grow and investors want to help them do that, it’s a perfect storm for rapid growth. Businesses will bounce back along as no one will want to stay at home after the year we’ve had and I really believe that. Working with local residents on redeveloping the pub and hospitality venue Rockwater Hove has shown me how much people want, more than ever, a place to come together as a community.”


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New offerings point to the expanding use of compressed natural gas (CNG) fuel systems.
“Next to the limited commercial fuel infrastructure, the biggest barrier to the broad adoption of natural gas vehicles is the initial cost of the technology,” said Dennis Cooke, president of global fleet management solutions at Ryder System. “Our new relationship with Quantum Fuel Systems Technologies Worldwide will help make CNG vehicles more affordable, so more businesses can take advantage of their environmental and efficiency benefits.”
Cooke’s statement was part of an announcement that Ryder has entered into a long-term agreement with Quantum for the purchase and supply of complete CNG fuel systems for leased CNG trucks. Ryder’s fleet, today, includes more than 500 compressed and liquefied natural gas vehicles that have operated more than 20 million miles serving over 40 customers in California, New York, Texas, Arizona, Michigan, Utah, Georgia and Louisiana.
Under the agreement, Ryder will purchase Quantum’s Q-Lite CNG tank systems directly from the manufacturer. The high-capacity systems feature an adaptable design that can be used on medium- as well as heavy-duty models. Ryder’s maintenance team, which will install the tank systems, worked with Quantum to develop comprehensive procedures to ensure that installations meet industry standards.
Natural gas tank storage systems are one of the most expensive components of a natural gas vehicle, Ryder noted. By purchasing the systems directly from Quantum, the company said, it can pass savings onto its lease customers, delivering a faster return on investment in natural gas vehicle technology. In addition to the purchasing agreement, Quantum and Ryder also announced plans to work together to improve future fuel system designs based on Ryder’s experience operating CNG vehicles in a variety of commercial truck applications.
The use of natural gas vehicles among fleets is clearly growing and manufacturers are responding with a range of products. Recently, Ford announced that agencies in the state of Oklahoma have ordered 256 F-150 trucks prepped with a gaseous-fuel option for its 3.7-liter V6 engine that can run on CNG or liquid propane gas. The specially equipped bi-fuel F-150 model purchased by Oklahoma features a standard gasoline tank and a supplementary CNG tank that gives the light-duty truck a combined range up to 750 miles, depending on tank size.
By summer, along with the F-150, Ford will offer eight vehicles that can run on CNG, including Transit and E-Series van, wagon, cutaway and chassis cab models, F-Series Super Duty pickups and chassis cabs, the F-650 medium-duty truck and the F53 and F59 stripped chassis.
Ford also reported it is on track to sell more than 15,000 CNG capable vehicles in 2014. “Since 2010, CNG-prepped truck sales have increased more than 250%,” said Jon Coleman, Ford fleet sales manager. “Cumulative sales are expected to exceed 50,000 trucks by the end of the year, and we anticipate demand for CNG-prepped vehicles to continue growing.”
Recently as well, Quantum announced it had received approximately $2 million in new orders for Q-Lite CNG storage tanks from a combination of new and existing customers around the U.S. and Canada, and across many vehicle sizes.
“Those orders reflect the continued strong growth of natural gas power as fleets look for ways to reduce transportation costs,” said Brian Olson, president and chief executive officer of Quantum. “The savings achieved by many of the fleets that have been testing CNG vehicles is now translating into volume orders, and we expect this trend to accelerate in the remainder of 2014.”


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May 25, 2018
Friction-free experiences are must-have amenities for travelers
Consumers expect real-time, frictionless experiences in every single brand engagement - both online and off. The travel industry is no exception to this rule.Read more
Nobody likes to pay, but everyone likes a good deal. That’s the conclusion of a new study of digital wallets. Which means that mess of flyers on your front door could soon be replaced by a smarter set of customized and personalized digital flyers in your Apple Passbook or Google Wallet.
That’s a least a step up from six months ago, when PayPal was the only digital wallet provider that more than half of American consumers had even heard of. Now, only 19 percent of Americans have no clue what mobile wallets are.
And for those who aren’t currently using mobile wallets, the study says, more would try one in order to receive promotions and special offers than any other benefit. 50 percent think special deals are good reasons to try mobile wallets, while another 43 percent would like mobile wallets to organize their loyalty cards and coupons.
“This research confirms what we’ve been seeing in the mobile wallet campaigns we have run for our retail customers – a consumer’s phone is more than just a research tool,” said Jack Philbin, co-founder and CEO of Vibes, in a statement. “With emerging mobile wallet technologies such as Apple’s Passbook and Google Wallet Objects, consumers are able toorganize their phones in a way that works for them. Information is delivered based on their preferences, creating a huge opportunity for retailers to not only offer a mobile wallet program, but better educate their customers on how to sign up and reap the benefits.”
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Large grocery stores will continue to exist for the foreseeable future, but their numbers will drop significantly
For decades, Canadian consumers have been accustomed to the traditional grocery store where you purchase most of your groceries under one roof once a week or every other week. That model, which emerged in the 1960s, is under serious threat now and may signal the end of the grocery store.
A few key metrics are telling us that the days of the typical grocery store are numbered. Take Loblaw for example. A good portion of Loblaw’s business, Canada’s current no.1 food retailer, is now related to non-food products. Of course, Loblaw rocked the food retailing world last year by purchasing Shoppers Drug Mart for over $12 billion. With this act of brilliance, Loblaw acquired cheap real estate and thereby allowed its major labels like President’s Choice to reach out to urbanites longing for convenience, healthy food choices, and loyalty points. At the same time, consumers will now find sushi and fresh nicoise salad next to medication and makeup. Loblaw is even exploring the idea of a drive-through shopping experience.
Loblaw has been quite active in reinventing itself for one reason: Walmart. Because of Walmart’s spectacular ascent in the food retailing world, everyone else must adjust. With its supercentres, the company now has close to 10 per cent of the Canadian market and is striving to become the No.1 food retailer not only in America – where it has held the top spot for years. And in all honesty, numbers are making it difficult to bet against Walmart’s odds these days.
Online shopping is also another legitimate menace to the traditional grocery store. The virtual world is a channel being exploited by some very important players, particularly south of the border. Amazon, which has tremendous clout in the e-commerce space, has a growing interest in food e-retailing. In fact, it is gaining market share in Los Angeles and San Francisco and may run more pilots in other countries, such as Canada. With our greying population, harsh winters, and increasingly demanding work schedules, online shopping is slowly making a case for itself.
Above all of this is the two-headed monster all food retailers will need to cope with in the future. On the one hand, boomers are slowly retiring with fixed income and depressed pensions. They will be looking for affordable prices as much as they can. On the other hand, millennials who are becoming increasingly influential link social values to food more than their predecessors do: organics, fair trade, local foods – all are important to them. Farmers markets, known for high price points, are breaking records in sales across the country despite rising food prices in stores. As a result, food demand is becoming more fragmented, which makes consumer behaviours more challenging to anticipate.
Food retailers will admit that not every grocery store is equal and most adapt to local needs. Since customization will become an important driver moving forward, specialty stores, once written off by many, may have a future after all.
Ethnicity and food trends are game changers as well. Many observers predict that 70 per cent of consumer spending growth will come from visible minorities over the next decade. Ethnic and gluten-free products are becoming better and tastier, pleasing growing segments of the market place. But what is trendy one day may not be tomorrow, making it challenging for the food industry to recognize which innovative features have currency.
For the foreseeable future, large grocery stores will continue to exist, but their numbers will drop significantly. Unlike the 1960s when one model dominated the market, we will soon see many successful strategies emerge to feed Canadians.
By Sylvain Charlebois
Sylvain Charlebois is a professor of food distribution and policy at the University of Guelph in Ontario.


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A 20% drop in the number of skilled butchers working in British abattoirs and boning halls has led to a 25% fall in the number of pigs being bought in by the slaughtering sector. The result is that British pig farmers are running out of room to keep unsold pigs and face the prospect of culling thousands of healthy animals.
The National Pig Association chief executive Zoe Davies is already warning that most of the British pig industry will be out of business by next summer. From its conversations with members, the NPA can confirm that at least 16,000 healthy pigs have already been culled in recent weeks, but the figure is almost certainly the tip of a very grisly iceberg.
The UK government has offered support packages for the processing sector in a bid to restore slaughtering capacity but none of this will stop pig farmers going out of business. Farming minister George Eustice is on the record saying that he can’t see what else he can do that might help pig producers stay in business.
NPA ceo Zoe Davies is frustrated by DEFRA’s lack of foresight. “If that’s the way they want it, then that’s the way it will go. We will just see droves of people going out business, there won’t be a British pig sector going forward, or it will be massively reduced, and we will just end up importing all the product from European Union.”
Davies estimates that the pig crisis cost producers GBP 130 million during the first six months of 2021 and she is seeing farmers leaving the pig sector and farming.
The operational impact on the slaughtering and processing sector of losing large numbers of highly qualified non-UK EU staff is not a new concern. The issue was raised in the House of Lords report number 15 published during the 2017-8 session of Parliament. (https://publications.parliament.uk/pa/ld201719/ldselect/ldeucom/15/15.pdf)


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Legend chip maker and know-how firm AMD will make investments $ 400 million in India within the subsequent 5 years (AMD funding in India). The corporate introduced this on Friday. Underneath this, AMD will open a brand new AMD campus in Bengaluru to increase analysis, improvement and engineering operations in India. This campus will function the largest design heart of the corporate.
The campus will open by the top of this 12 months
In accordance with the information, AMD will add round 3,000 new engineering roles by the top of 2028. The corporate has additionally indicated that this new heart will open by the top of this 12 months. It should have intensive labs, areas, superior help gadgets and seating preparations designed to advertise teamwork. Welcome by Minister of State Rajeev Chandrasekhar
Electronics and IT, reviews IANS , Minister of State for Ability Improvement and Entrepreneurship Rajeev Chandrasekhar stated in a press release I welcome AMD’s resolution to arrange its largest R&D design heart in India (AMD funding in India) and increase the India-AMD partnership. Chandrasekhar says that it’ll additionally present large alternatives for our massive pool of excessive ability semiconductor engineers and researchers. This funding is supported by varied coverage initiatives of the central authorities specializing in the semiconductor trade
AMD has its workplaces in these cities
AMD has one of many broadest product portfolios within the trade, pushed by advances in synthetic intelligence, networking and 6G communications, and our India groups will proceed to play an essential position in offering excessive efficiency and customised options that help AMD clients all over the world. The brand new 5,00,000-square-foot Bengaluru campus will improve AMD workplace presence to a complete of 10 areas in these cities – Bengaluru, Delhi, Gurgaon, Hyderabad and Mumbai.
“article title “>iPhone 15 sequence value leaked earlier than launch, understand how a lot you’ll have to free your pocket


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UN report outlines creative industries’ potential to boost development
Trade in creative goods and services has remained robust despite a decline in global commerce as the result of the world financial crisis, reflecting the potential of the “creative economy” to boost economic growth particularly in the developing countries, according to a new United Nations report unveiled today.
Global trade in services and products of creativity continued to register an annual average growth of 14 per cent even as world commerce declined by 12 per cent in 2008, according to Creative Economy Report 2010: A Feasible Development Option, launched at UN Headquarters in New York.
Global exports of creative goods and services, including ideas and creativity-centred industries such as arts and crafts, audiovisuals, books, design, films, music, new media, visual and performing arts, more than doubled from 2002 to 2008, reaching nearly $600 billion, according to the report.
“This is a confirmation that the creative industries hold great potential for developing countries that seek to diversify their economies and leapfrog into one of the most dynamic sectors of the world economy,” the report states.
It pointed out that the export of creative goods from developing countries – the so-called South – to the world reached $176 billion in 2008, accounting for 43 per cent of total creative industries trade, with an annual growth rate of 13.5 per cent during the 2002-2008 period.
According to the report, South-South trade of creative goods amounted to nearly $60 billion, a growth rate of 20 per cent over the period, a trend it said should encouraged developing countries to include creative goods in their list of products in negotiations under the Global System of Trade Preferences in order to give impetus to the expansion of South-South trade in the promising sector.
“The report shows that well-nurtured, along with the traditional sectors, the creative economy can be a source of growth, job creation, innovation and trade, while at the same time contributing to social-inclusion, cultural diversity and sustainable human development,” Rebeca Grynspan, the Associate Administrator of the UN Development Programme (UNDP), told reporters at the report’s launch.
The publication cites, as an example, the case of Nigeria where the country’s $2.75 billion film industry is the third largest in the world, following the United States and India. Nigeria’s so-called “Nollywood” produces more than 1,000 films annually, creating thousands of jobs and is the country’s second most important industry after oil. As a result, the Government has invested in the film industry, reforming policies and providing training to promote film production and distribution.
“New technologies and the internet give developing countries a feasible option to promote their creativity and entrepreneurship in the global market,” said Edna dos Santos-Duisenberg, Chief of Creative Economy and Industries Programme of the UN Conference on Trade and Development (UNCTAD).
Speaking on behalf of the Presidency of the General Assembly’s High-Level Committee on South-South Cooperation, Josephine Ojiambo described the creative economy as a “dynamic solution for some of the most critical issues the world is facing today,” citing the empowerment of women, creating opportunities for the younger generation, reducing conflict and promoting inclusive development.
The report was prepared by the UNCTAD and UNDP and showcases more than 40 concrete examples ranging from the fashion industry in Africa and Asia to soap operas in Mexico and Brazil, and from the film industry in India, to reggae in Jamaica and the carnival in Brazil and the Caribbean.


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The department store chain, John Lewis has confirmed plans to not reopen eight of its 42 UK stores when the current lockdown lifts on April 12th this year. The move will put more than 1,400 jobs at risk.
The retailer’s stores in Aberdeen, Sheffield, Peterborough, and York will remain closed, as well as four of its smaller ‘At Home’ stores in Tunbridge Wells, Ashford, Basingstoke, and Chester. The planned closures will threaten the future of a total of 1,465 roles with the firm.
The latest development echoes of similar actions taken by the department store chain when its kept eight other stores permanently closed after the first lockdown last year. As of April 12th this year, John Lewis’ estate of department stores will stand at 34.
John Lewis has pointed towards the ‘significant shift towards online shopping in recent years’ as the reasoning behind the latest closures, adding that the decision followed “substantial research to identify and cater for new customer shopping habits in different parts of the country.” According to the team, the eight stores were already “financially challenged prior to the pandemic.”
In a statement, the company said that it believes the online shopping trend “will not materially reverse” and that the performance of these eight stores “can be substantially improved.”
Previously, the group has voiced its expectations that at least three fifths of revenues will be generated online, even when shops are trading normally again.
“Having fewer bigger stores allows us to invest significantly to improve our remaining ones,” said the company. It will also test new, smaller, local shops along with stores within its Waitrose supermarkets.


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Reports in recent weeks have suggested that the US-China trade war, while doing damage to both sides, will hurt American consumers more than their Chinese counterparts. That aside, concerns about how a trade war will affect consumer spending in China as Beijing tries to boost domestic consumption remain.
But economists at Barclays say that new Chinese income tax cuts, coming into effect in October, will boost consumption and GDP growth, offsetting some of the pain felt by tariffs.
Contrary to some early skepticism that the tax cuts will go far enough, the economists wrote in a report released today that, depending on details yet to be released, the reforms could add 0.2-0.3% to GDP growth.
The raising of the maximum income level for the lowest bracket alone could reduce taxes by 332 billion yuan per year, which exceeds the number projected by China’s Ministry of Finance. Extra deductions allowed could boost those household savings to as much as 472 billion yuan.
While the tax relief will help support growth, it is not likely to fully offset the impact of tariffs, should the US go ahead with another escalation. Because of this, Barclays expects more policy easing if needed to further offset the trade headwinds.


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Insightpool mines for business in social
Atlanta-based Insightpool helps businesses mine social networks for prospects.
The social marketing automation startup recently raised $250,000 from friends and family. Insightpool will use the capital to grow their existing customer base.
Conventional marketing automation software is reactive in nature, Chief Strategy Officer Adam Wexler said. It relies on prospects coming to the website and expressing interest in the company’s product.
Insightpool is a “social prospecting tool, where the software goes out and cultivates that interest,” Wexler said.
Insightpool software scours FaceBook, Twitter, LinkedIn — and offline sources such as the U.S. Census Bureau — to build a detailed profile on prospective customers, influencers and suppliers.
“We can tell you everything there is to know about an individual,” Wexler said.
Once the prospects are identified, Insightpool helps brands craft campaigns to interact with them over social networks.
People suffer email fatigue and are more likely to respond to a customized marketing pitch on a social network, Wexler said.
“We’re catching people where they hang out,” he said, referring to "sticky" social networks, such as Twitter.
The marketing automation space is a growing cluster in Atlanta. It’s also a space that has seen much M&A.
In October, Atlanta Pardot was acquired by Indianapolis-based ExactTarget (NYSE: ET) for nearly $95 million. Social media marketing firm Vitrue sold to by Oracle Corp.; while competitor BLINQ Media was acquired by Gannett.
Insightpool, which employs six and expects to reach profitability later this year, is backed by Devon Wijesinghe, a serial entrepreneur and angel investor. Wijesinghe, Insightpool’s executive chairman, invested and led the recent capital raise.
Urvaksh Karkaria covers Technology.
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Aside from taking back its place from Xiaomi as the second-largest smartphone maker in the world, Apple is seriously kicking it in the world’s largest smartphone market – China.
For whatever reason, Apple is the most beloved smartphone brand currently in many parts of the globe and that can be attributed to the quality of their devices and their proprietary software services which integrate well into the company’s product ecosystem.
In fact, many see Apple’s devices in China as a sign of pride due to their high price points even if there are very much unimaginably expensive smartphones from other local brands like Huawei.
Even though other Chinese OEMs have already caught up with the American tech giant, the company is still thriving and that’s due to the success of its latest lineups such as the iPhone 12 and the current iPhone 13 both of which are enjoying favorable reviews from consumers in China.
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Currently, Huawei’s sales tanked in October dropping to just 8% of the market share while VIVO and OPPO stood second right behind Apple with about 22% market share.
Even though Apple has been adamant about the notch which it popularized with the iPhone X back in 2017, the company went ahead to add the notch on its newest MacBook lineups in 2021 making it clear that Apple wants to be known with the notch.
Counterpoint Research revealed that Apple edged out Vivo to emerge as the number one smartphone vendor in China and that is a feat that the US-based company had been able to pull since 2015.
Apple’s sales grew 46% over the previous month of September which made it the highest recorded growth in Oct. 2021 by any vendor in China.
In contrast, the entire Chinese smartphone market grew by just 2% month-on-month during this period which shows how much consumers were waiting to purchase the iPhone 13 lineup.
Huawei which once owned the market did so by offering great hardware, cameras, and fast processor all at a competitive price point but since the company was axed by the US government, Huawei’s products especially the smartphones had continued to get an unnecessary increase in price.
This can be attributed to the fact that Huawei is now seeing itself as being self-sufficient and less reliable on third-party companies even though it still made use of Qualcomm’s chipset on its recent flagship, the P50 series.


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In Face of E-Cig Challenges, Logic Rises to No. 1
Logic jumps over blu in unit sales, continues to grow as category declines
NEW YORK -- Bonnie Herzog picked a precipitous day to host a "Tobacco Talk" conference series with Logic Technologies Inc. president Miguel Martin: the Wells Fargo senior analyst featured the first interview with Martin after news that the Pompano Beach, Fla.-based company had overtaken the long-leading blu in convenience store volume.
"We're very proud to announce that today, according to Nielsen's c-store data, Logic is the No. 1 company in the U.S. in terms of units," Martin said of Logic's 24.3% share. "That is a big deal for us and a big deal for the category."
It was a bit of good news amidst data that is suggesting a downward trend in the category overall, something Herzog described as "quite frankly, a concern."
"A lot of the data we receive is through Nielsen and suggests the growth of the e-cig market has been decelerating," she continued. "It's actually been on a decline on a year-over-year basis in terms of c-stores."
"The quick answer is we don't see the deceleration," Martin said, acknowledging that this might be specific to just Logic.
Martin said the Nielsen data only paints a partial picture of what's occurring as it draws from a panel of specific retail locations. To capture a broader picture, companies like Logic also look at data from Management Science Associates (MSA), which is gathered from wholesale-to-retail shipments.
"MSA trends tell a little bit of a different story than what Nielsen has told." MSA, he explained, shows e-vapor up over 50% this year in each of the major retail outlets. "We look at it as a very healthy sign that e-vapor growing volumetrically. Put another way, one should no longer focus exclusively on electronic cigarettes but on the entire e-vapor market."
Additionally, the entrance of both new trade channels (such as mass merchandise) and new retailers in existing trade channels (such as convenience stores) suggests there's ample opportunity for further growth. According to MSA, 140,000 outlets are currently selling e-vapor products, compared to 350,000 selling cigarettes.
"I think there's more growth out there," Martin said. "I believe any store that sells cigarettes responsibly to adult smokers is a viable place to sell electronic cigarettes. From a distribution standpoint, there's a lot of opportunity."
Another prominent topic of conversation was the entrance of Reynold's Vuse and Altria's MarkTen.
"One of the questions I know that's been out there is how effective can companies like Logic be against all of the prowess and power that the major tobacco companies have," said Martin, who formerly worked at Altria. "I think the best way to predict the future is to look back on what happened with blu."
Martin reflected on how Lorillard purchased blu and quickly catapulted the brand to a 40-plus market share. "Without being critical, that share has come down a little since then," Martin said, referencing blu's current 23.0% unit and (still leading but down) 31.9% dollar share.
"I think you're going to see a similar thing with Vuse and MarkTen."
Indeed, we're already seeing the sudden catapult of these two behemoths. According to the Nielsen report ending Aug. 2, Reynolds was third in terms of unit share (15.6%) and fourth in dollar share (10.8%), while Altria was fourth in units (13.1%), third in dollar (14.0%). This before either brand has been fully rolled out nationally.
Of course, both Reynolds and Altria are reaping certain benefit from strong price discounting. And there's also the question, Martin suggested, of whether these products are benefitting from being the new players on the block.
"The reality is those companies have world-class sales and marketing organizations," said Martin. "One of their skills is getting very quick distribution and generating a lot of trial through their adult-only consumer databases."
"I think what we haven't seen yet, is the consumer reaction to those products," Martin continued. "Whether through couponing or discount work, a lot of people who maybe aren't in the category will have the opportunity to try MarkTen and Vuse. Question is, once they've tried it, how do those products hold up against other products currently on the marketplace? We think the best products will win."
Martin holds firm that more than the size of the manufacturer, it will be the best products that ultimately will thrive, primarily because e-cig users, perhaps more than any other consumer base—are interested and willing to try several products, especially those who have already made the change from cigarettes.
Martin added that, when looking at Logic's core market on the East Coast (where the company boasts anywhere from a 60% to 66% share), recent expansions by Big Tobacco may have eroded Logic's volume and dollar shares, but the company's total sales and units are up overall.
"What we see is that even though we can see a little bit of share degradation in our core market, the fact that our units and dollars are up, I think demonstrates great strength and loyalty towards our products," Martin said. "We're okay with the concept that we may lose a little bit of share in the short-term, as long as the overall volume and trial goes up, which is what we see from those offerings."


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New research from an entrepreneurial think tank shows that over a quarter of business owners polled have increased their working hours as a direct consequence of the current economic downturn – working an average of eight extra hours per week.
The data from Tenon Forum also shows that business owners have already started to lay staff off in order to survive the downturn. Over a quarter (26 per cent) of entrepreneurs surveyed have already let go of staff since the start of the credit crunch, and a similar proportion (24 per cent) are planning to cut wages by an average of nine per cent over the next 12 months.
Despite these planned cuts, employers are keen to maintain staff morale through the difficult times ahead and many plan to compensate employees in other ways. Bonuses (14 per cent) and flexible working (10 per cent) are the most common incentives due to be introduced by entrepreneurs in 2009, while six per cent intend to offer employees additional holiday to keep them on side.
However, 54 per cent of entrepreneurs do not plan to offer any form of motivational incentive to their employees in place of a pay rise – a clear indication of the need for small businesses to tighten their belts across the board.
Carl Jackson, Head of Tenon Recovery, commented:
“It’s no surprise that entrepreneurs are upping their hours to stay afloat as we continue to see record number of failing businesses and no sign of the recession easing. However, it is encouraging to see small businesses being realistic and taking practical steps to see them through the downturn.”
“While entrepreneurs may be faced with some difficult decisions over the coming months, including making redundancies and pay cuts where necessary to remain profitable, it’s important to remember the value a trusted workforce can bring. In these uncertain times, bosses and their staff need to work together to ensure their businesses are in the best possible position to have a successful year in 2009.”
On a more optimistic note, more than a quarter (28 per cent) of small businesses actually plan to increase wage spend over the coming year, with the average rise at just over five per cent, suggesting that some entrepreneurs are taking advantage of the downturn to recruit strong candidates.
Entrepreneur and think tank member Richard Watts, Partner Europe at McKinney Rogers, said:
“As a business, we’re seeing more and more of our clients in need of creative and practical ways to adapt and ‘recession proof’ their businesses. Our customers ask us to help them be prepared in the face of the economic recession and win share against the competition. We help them to re-energize, re-think and re-focus the business, using realistic targets.”
“We also practice this model to adapt and ‘recession proof’ our business and we are experiencing a steady and sustained growth during this difficult period. The recent downturn has given many businesses the impetus they needed to look at where they can tighten things up across the board so their businesses run as smoothly and efficiently as possible.”


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Casual Dining vs. Fast Casual: How Do They Stack Up?
Casual dining operators haven’t seen as much of a hit from the away-from-home slump compared to fast casuals – according to Datassential’s SNAP! Keynote Report: Casual Dining, half of operators in the segment say sales are higher today than one year ago. This is slightly more than the one-third of fast casual operators who reported similar sales growth (SNAP! Keynote Report: The Future of Fast Casual). Operators for both segments are also optimistic about future sales. Last year three-fourths of fast casual operators said they expect sales to increase in 2018, and over two-thirds of casual dining operators report positive expectations for sales in 2019. On the consumer side, close to 30% say they’re going to casual dining restaurants more often now than they did a year ago, comparable to the 33% who increased their visitation of fast casuals in 2017.
Operator challenges in casual dining
While the future is looking bright for casual dining operators, there remains one area that poses a major challenge – getting consumers to come back more often. While over half of fast casual patrons report going at least once a week, only 13% of casual diners visit weekly. Given that meals at casual dining restaurants tend to cost more and are generally served in a sit-down fashion with leisure rather than convenience in mind, it’s unsurprising that visitation frequency is lower for the casual dining segment. Still, around 70% of casual dining operators attribute recent sales growth to increasing numbers of loyal repeat customers.
One strategy operators are using to attract and retain customers is by modernizing menus through safe experimentation. According to the report, one of the megatrends casual dining patrons are most interested in are mashup items that combine safe and familiar classics with a twist, like a Korean BBQ burger. Operators who offer a few of these items (either as permanent items or as LTOs) may have greater success at attracting new customers. For repeat customers, operators can also offer promotions that encourage increased visitation frequency, such as a discounted meal if diners return within the month.
Similar to the fast casual segment, visitors to casual dining venues highly value the balance between price and quality of the food. Consumers are less willing to trade quality for lower prices at casual restaurants compared to fast casual restaurants, which means casual dining operators must be cautious about pricing items too low so as not to be associated with lower quality. At the same time, casual dining customers are also reluctant to order high quality food if it means paying significantly more.
With many casual dining operators anticipating an increase in food and labor costs, finding the right pricing balance that delivers the moderate price/quality level consumers desire can be difficult, but suppliers can play a role in assisting operators with this challenge – one in three casual dining operators say they are interested in menu analysis/costing support from suppliers.
Opportunities for innovation
To appeal to busy customers, casual dining operators can look to technology to simplify the ordering process. Tabletop tablets that allow diners to order and pay without having to wait for a server, for example, are being implemented at chains like Applebee’s and Olive Garden. For on-the-go diners who don’t have time for a sit-down meal, many casual dining establishments offer takeout, but could also take the next step by implementing delivery services (a strategy that 10% of casual dining operators say they’re planning to incorporate in the next year). New York’s Veselka, a Ukrainian diner that opened in 1954, started its delivery service with just having busboys deliver food around the neighborhood, but in recent years has signed on with third-party services like Seamless, ChowNow, and Caviar. Now delivery and takeout make up about 20% of the restaurant’s overall business, according to Eater. Still, as operators look to expand their off-site options, it’s important to keep in mind that any new initiatives should be structured so as not to interfere with the dine-in experience, which remains the largest source of revenue for the majority of casual dining operators.
Marketing is also a major driver of foot traffic at both fast casual and casual restaurants – nearly one-third of all casual dining operators agree that promotions motivate return business, and 30% of fast casual operators say LTOs and daily specials play a significant role on their menus. While the food/menu are the most important factors for consumers when deciding between casual dining establishments, operators should also consider other areas where they can stand out. For both the fast casual and casual dining segments, any aspect that can make an operator top-of-mind – whether it’s new or interesting menu items, promotions, décor, entertainment, or streamlined ordering technology –should be highlighted to customers. However, it’s also important to keep the focus narrow, as picking one or two specific aspects to improve upon will be more effective than trying to stand out in all areas. By assessing and addressing the most prominent needs of their customers, both casual dining and fast casual operators can devise long-term strategies for creating a unique presence for their business.


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From landfills and laboratories to archeological digs and deep space
The Columbus Dispatch - June 18, 2012 04:24 PM
More signs are emerging that the dreaded, voracious Asian carp might have slipped past an electronic barrier meant to keep them out of the Great Lakes.
Charter boats and other businesses that rely on Lake Erie's $10 billion annual tourism industry have good reason to fear these fish.
They out-compete native fish for food, taking over whole stretches of streams, including the Illinois River. They find the sound of boat motors so disturbing that they leap into the air, often striking people in the boats.
A new round of U.S. Army Corps of Engineers tests, which are available here, found environmental DNA, or "eDNA," of silver carp at 17 different locations well beyond the electric barrier. There were 14 positive tests in Lake Calumet.
What's eDNA? The Corps describes it as genetic material, cells containing carp DNA from tissue, mucus, feces and/or urine, that are extracted from water samples.
(Photo credit: AP)
Kroger customers can double their fuel points by shopping on weekends, this summer. The Cincinnati-based grocer will double the points earned with grocery purchases on Fridays, Saturdays and Sundays -- for a maximum of $1 off per gallon at the chain's gas stations -- through its 2x Fuel Points Weekends promotion. You also can save up to 10 cents a gallon at participating Shell stations.
They don't find this funny.
Investors can pick up tips on how to avoid becoming victims of financial fraud as part of a presentation that the Better Business Bureau is putting together for June 14.
More taxpayers are doing their taxes and filing them electronically from home these days.


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Tadmor Levy & Co
A premier Israeli law firm with a global outlook, Tadmor Levy & Co. is driven by a strong entrepreneurial spirit and an energetic commitment to a wide range of clients looking to grow, adapt, thrive and lead from the front in today’s competitive marketplace.Show more
Competition & Antitrust
The Israeli Competition Authority recently published a draft public statement regarding the submission of joint bids by competitors in tenders. The draft proposes an interpretation of the Competition Law that may significantly affect the business activities of entities operating in Israeli tender markets. Foreign entities that consider participating in bids in Israel as part of a group should be aware that they may need to obtain the competition commissioner's prior approval.
The Competition Tribunal's recent judgment thoroughly analysed the legality of target discounts offered by a dominant firm to its customers. The tribunal adopted a cautious approach towards retroactive target discounts, ruling that such pricing schemes could be condemned even if an equally efficient competitor was not excluded by the target discount and the level of market foreclosure was limited.
The attorney general (AG) recently submitted his opinion regarding the applicability of the excessive pricing prohibition under Israeli law and the appropriate test for its application. Adopting the Israeli Competition Authority's current opinion regarding excessive pricing while opposing the broad approach taken by the court in the Central Bottling Company case, the AG maintained that the Supreme Court should determine that the Competition Law prohibits monopolists from setting unfairly high prices.
The Israeli Competition Authority recently published several clarifications regarding the application of the Economic Competition Law 5748-1988 in light of the COVID-19 pandemic. The clarifications refer to three main issues – namely, collaboration arrangements between competitors, gun-jumping rules in merger cases and postponement of reports required under the Law for the Advancement of Competition in the Food Sector 2014.
In February 2019 the Israel Competition Authority (ICA) published for public consultation a draft amendment to Public Statement 1/16: Considerations of the Competition Commissioner in Determining the Amount of a Monetary Penalty. Following public comments on the draft amendment, the ICA has now published a final amended statement. As such, the ICA's new methodology for imposing monetary penalties has taken full effect.
The Israel Competition Authority recently published a draft amendment to the Antitrust Regulations (Registry, Publication and Reporting of Transactions) for public consultation. The draft includes significant and far-reaching changes regarding the scope of the transactions that will require merger approval by the competition commissioner, as well as the extent of the disclosure that will be required when filing merger notifications.
In January 2019 Parliament passed a comprehensive amendment to the Economic Competition Law 1988. Among other things, the amendment introduced an alternative definition of a 'monopoly' based on a market power test rather than market share and significantly increased the maximum cap for monetary administrative penalties which can be levied on corporations. To put the new rules into practice, the Israel Competition Authority recently published draft guidelines on both of these matters.
Parliament recently passed an amendment to the Economic Competition Law that represents its most significant overhaul since its enactment in 1988. The amendment covers nearly all of the law's substantial chapters and affects the regulation of restrictive arrangements, the merger control regime, the regulation of monopolies and criminal and administrative enforcement measures.
The Israel Competition Authority recently published amended versions of the Block Exemption for Ancillary Restraints in Mergers and the Block Exemption for Joint Ventures. The amended block exemptions intend to lower the regulatory burden imposed on businesses and enable the fast implementation of efficient arrangements by expanding the use of block exemptions.
In recent years, parallel and private imports have become an important factor in the public debate surrounding the cost of living in Israel. The level of competition (and ultimately prices) in many product markets is heavily dependent on imports. The recent amendment to the Restrictive Trade Practices Law aims to provide the antitrust commissioner with the authority to prevent conduct by official importers that may hinder competition from parallel and private imports.
The Israel Antitrust Authority (IAA) recently published the Antitrust Rules (Joint Loans Block Exemption) 2018. The exemption deals with loans extended jointly by a number of financial institutions to a single business borrower and provides a more formal and broader framework than the IAA's previous policy of periodic public opinions, which exempted consortium arrangements from restrictive enforcement under certain conditions.
The Israel Antitrust Authority recently published a draft amendment to the Vertical Block Exemption for public comment. The amendment aims to expand the substantive self-assessment of vertical arrangements and was published as a response to Supreme Court rulings which called for a more lenient approach to vertical arrangements and practitioner criticism of the current exemption. The amendment reflects a more general trend in Israeli antitrust law towards a substantive self-assessment regime.
The Antitrust Authority recently published a draft amendment to the Restrictive Trade Practices Law for public comment. The amendment proposes a broad reform of the law as regards restrictive arrangements, monopolies and mergers. According to the authority, the amendment aims to decrease the existing regulatory burden that applies to legitimate and efficient practices and strengthen anti-competitive enforcement.
The Supreme Court recently confirmed that Regulation 500(7) of the Civil Procedure Regulations, which concerns court approval for service outside Israel, is not met where the alleged act or omission occurred outside Israel and only the anti-competitive effects are alleged to have taken place in Israel. The court further ruled that the effects doctrine – the governing doctrine for applying local antitrust law to foreign conduct – pertains only to the substantive applicability of such law to foreign conduct.
The antitrust commissioner recently announced her intention to impose unprecedented financial sanctions on several monopolies and market leaders in Israel, as well as some of their senior officers. These announcements indicate that the use of financial sanctions to combat the abuse of a dominant position will likely play a key role in the Israel Antitrust Authority's agenda for the coming years.
The Israel Antitrust Authority recently published draft guidelines on resale price maintenance arrangements, following a Supreme Court decision that fundamentally changed the legal standard applicable to vertical arrangements. The draft guidelines survey the main concerns arising from resale price maintenance arrangements, the competition benefits that they may produce and the general methodology that should be used to analyse such arrangements.
The Israel Antitrust Authority (IAA) recently concluded its initial re-evaluation of its policy on the prohibition on excessive pricing by monopolies and published draft guidelines on the factors that it will consider in enforcing the prohibition. The draft guidelines structure the IAA's decision-making process in enforcing the excessive pricing prohibition and are expected to reduce significantly the number of cases in which the IAA will take action on the grounds of excessive pricing.
The Israel Antitrust Authority (IAA) recently published draft guidelines on the factors that the IAA commissioner will consider when determining the financial sanction to be imposed on antitrust violators. The draft guidelines aim to structure the commissioner's decision-making process when determining financial sanctions while considering the specific circumstances of each case and offer a quantitative methodology in this regard.
The Israel Antitrust Authority (IAA) recently announced a public hearing and formal re-evaluation of the merits, enforceability and effectiveness of its policy regarding the prohibition on excessive pricing by monopolies. The announcement may result in a major overhaul of the IAA's policy regarding excessive pricing and the annulment of major portions of its guidelines on the issue.
The antitrust commissioner recently imposed a $2.3 million fine on Ashdod Port for providing retroactive discounts to vehicle importers that used its facilities. Discounting practices are generally welcome, but when undertaken by monopolies, some discounting schemes may contravene antitrust laws. Dominant firms are advised to check their pricing practices to avoid potential liability.
The Central District Court recently rendered a precedential decision in a claim brought by an Israeli manufacturer and distributor of generic pharmaceuticals against a multinational innovator pharmaceutical company. The decision dealt with challenges faced by the innovator pharmaceutical company in its attempts to prevent or delay the entrance of generic drugs into the market and raises questions regarding the interface between IP law and antitrust law.
The Supreme Court recently issued a landmark ruling in an appeal of the lower court's conviction of a large retail chain for breach of merger conditions and attempting to engage in a restrictive arrangement. In its analysis of the arrangement under review, the court outlined a new legal approach towards vertical arrangements, overturning a longstanding and highly criticised precedent.
The Israel Antitrust Authority recently published a memorandum that proposes the application of monopoly restrictions on businesses that hold a market share of less than 50% if they possess significant market power. A second recent memorandum aims to reduce barriers to imports by restricting the ability of an official importer to abuse its power and diminish competition from parallel imports.
The Israeli Antitrust Authority recently proposed significant reform of the merger control regime in an attempt to expand the application of merger controls in some respects, while decreasing the number of mergers that are subject to compulsory filing. The authority has also called for the imposition of special duties that are applicable only to monopolies and authorised distributors.
Parliament recently approved amendments to the Restrictive Trade Practices Law. The changes include the annulment of the mutual exclusivity exemption between suppliers and distributors. The changes should be closely monitored by foreign firms that operate in Israel, whether directly or through local representatives or distributors.
The Supreme Court recently published its ruling regarding an appeal filed by Azrieli Group – one of Israel's leading shopping mall groups – against an Antitrust Tribunal decision. The ruling halts a gradual erosion in the scope of judicial review over decisions of the general director of the Israel Antitrust Authority.
In recent months a series of new laws focusing on the competitiveness of the Israeli economy have been implemented. The Advancement of Competition in the Food Sector Law 2014 and the Advancement of Competition and Reduction of Concentration Law 2013 have both introduced drastic and far-reaching regulations that will significantly affect the activities of many corporations in Israel.
Parliament recently passed the Advancement of Competition in the Food Sector Law. According to the law's explanatory notes, its main objective is to increase competitiveness in the food sector in order to reduce product prices for consumers. While this objective is noble, it is unclear whether the law will appropriately and effectively achieve it.
The Antitrust Authority recently published its Draft Guidelines on the Prohibition on Excessive Pricing by a Monopoly, reflecting a significant change in the authority's interpretation of the Restrictive Trade Practices Law. The antitrust commissioner has stated for the first time that charging excessive prices is deemed unfair pricing, and subsequently that this practice is deemed an abuse of a monopoly position.
The Antitrust Authority recently published a new block exemption that significantly reforms the supervision of restrictive arrangements in Israel. Going forward, ancillary restraints in vertical arrangements (except for minimum or fixed resale price maintenance) no longer require the prior approval of the Antitrust Tribunal or the antitrust commissioner, provided that such arrangement does not significantly harm competition.
The Antitrust Authority recently published draft guidelines for conducting due diligence in transactions that require the transfer of sensitive information. The guidelines confer ultimate discretion regarding the due diligence process - and the potential liability that comes with it - on the parties. Parties to a horizontal transaction should be especially cautious in order to avoid incurring significant antitrust liability.
Counselling on the appropriate bounds of information exchange and coordination between competing parties that wish to merge or act in a joint venture can be challenging for antitrust practitioners. Due to high levels of confusion, a lack of case law and the need for accurate advice, over the past few months the Antitrust Authority and the appellate court have provided some practical guidelines on this matter.
The food sector is facing radical new legislation aimed at increasing competition between food suppliers and among supermarkets. The proposed legislation will prohibit practices that could arguably be used by dominant suppliers to block expansion of smaller rivals, and empower the Antitrust Authority to order dominant retailers to divest existing supermarkets and ban their growth in certain locations.
The Antitrust Authority recently released its draft Antitrust Rules (Block Exemption for Non-horizontal Arrangements Without Price Restrictions). It is hoped that this draft exemption will herald a significant change in the way in which the Restrictive Trade Practices Law is enforced in relation to restrictive arrangements. At present, most restrictive arrangements require a specific exemption from the antitrust commissioner.
Parliament recently approved a legislative amendment to the 1988 Restrictive Trade Practices Act. The amendment will enable the antitrust commissioner to impose significant monetary payments unilaterally. This amendment is expected to increase the Antitrust Authority's enforcement powers significantly with regard to offences that are not hardcore cartel and bid-rigging violations.
During the past year, the Israeli antitrust regime has been undergoing near-constant change. Several governmental committees have been formed and a new antitrust commissioner has been appointed. There are early indications that the political, legal and personal changes that have occurred will lead to significant changes in the Israeli Antitrust Authority's enforcement policy.
The Israeli Parliament recently enacted a major reform of the Restrictive Trade Practices Law. The amendment provides the antitrust commissioner with new enforcement powers in an attempt to address the challenges posed by markets that demonstrate a tendency towards oligopolistic equilibrium. The amendment represents a major change in Israeli antitrust law and stands out from a global antitrust perspective.
The Antitrust Tribunal recently clarified the extraterritorial application of trade practices law. It based its decision on the effects doctrine, applying antitrust laws to offshore arrangements that may adversely affect competition in a local jurisdiction. In so doing, like many practitioners, the court ignored the previous Magrizo decision. It is likely that the effects doctrine will be the prevailing legal standard going forward.
Two of Israel's leading shopping centre firms recently announced their plan to merge. The Antitrust Authority reviewed the merger, which would create Israel's largest shopping centre firm, and approved it earlier this year, subject to the divestment of several shopping centres to a third party. The decision affords vital insight into how the authority treats 'two-sided platform' markets.
The Israeli Parliament recently repealed the longstanding statutory exemption for agreements held between shipping carriers, thereby subjecting such arrangements to possible antitrust scrutiny under the Restrictive Trade Practices Act 1988. The amendment may have far-reaching implications for the shipping industry in general and for foreign shipping carriers in particular.
While the Israeli Antitrust Authority (IAA) has been empowered to arrest suspects in antitrust investigations for years now, it had never made use of this power until recently. In the past, the IAA detained suspects for questioning, releasing them (sometimes subject to bail) after several hours of intense interrogation. Two recent cartel investigations in the bakeries market and the water counters segment mark a possible change to this policy.
The Antitrust Court recently issued a ruling upholding an Antitrust Authority decision that Bezeq, Israel's leading telecommunications company, had abused its dominant position by failing to take diligent measures to prevent potential harm to its competitors caused by a strike of its employees.
The Supreme Court recently issued a ruling upholding an Antitrust Authority decision to block a merger in the telecommunications industry due to potential competition concerns. The new ruling, which reversed the Antitrust Court's previous decision to clear the merger, provides important guidance on the implementation of the 'potential competition doctrine', particularly in the telecommunications markets.
The antitrust commissioner recently made a declaratory decision pursuant to Section 43(a)(1) of the Antitrust Law, according to which information exchanges concerning fees that were allegedly held between five major banks in Israel constituted an illegal restrictive arrangement. The decision seems to apply an 'illegal per-se' approach to information exchanges made in oligopolistic markets.
Mergers that meet certain threshold requirements are subject to a mandatory pre-notification process and require approval from the antitrust commissioner. In 2006 the commissioner blocked a transaction planned by Israel's leading telecommunications firm on account of it eliminating a potential source of competition in the market. The Antitrust Court recently overturned this decision.
The antitrust commissioner has the power to request any information that it deems necessary for the proper implementation of the Antitrust Law. A recent decision gives important guidance on the application of the Freedom of Information Act to sensitive business data submitted by firms to the Antitrust Authority through notification forms, responses to data requests or voluntary submissions.
In 2006 Parliament amended the antitrust law and annulled the antitrust immunity that had been granted to agreements between air carriers. When the amendment comes into effect, almost all air carrier agreements will become subject to licensing requirements. To avoid these requirements, the antitrust commissioner recently published the Block Exemption for Agreements between Air Carriers.
In many Israeli markets local demand can sustain the effective activities of only a few companies. A recent proposed amendment to the Antitrust Act, endorsed by the Israeli Antitrust Authority, presents far-reaching changes with respect to regulation in sectors lacking a significant number of competitors.
An overwhelming majority of antitrust cases involving monopolies refer to active conduct which can be directly attributed to the dominant firm. Until recently, Israeli law did not address (at least directly) the question of whether and to what extent a monopolist has an obligation to take action to prevent possible damage to competition.
Can a lawyer immunize clients from criminal charges by giving a legal opinion stating that the client’s desired actions are lawful? In two recent decisions the Israeli Supreme Court ruled that if certain conditions are met, a bona fide reliance on legal opinion can serve as a defence against criminal proceedings.
In what circumstances is a merger transaction involving foreign companies subject to prior notification to, and approval from, the Antitrust Authority? New guidelines suggest that certain international mergers may fall within the scope of the Antitrust Law, even if the merging companies conduct their business in Israel solely through independent local representatives or distributors.
A recent court decision illustrates the broad scope of criminal liability for antitrust offences under Israeli law and the degree of severity attributed to such offences by the Israeli courts. This decision emphasizes the fact that both corporations and individuals conducting business in Israel are exposed to liability for antitrust infringements.


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Kids and teens should get two to three quarts of water per day, via food or drink, research suggests.
June 11, 2015 More than half the young people in a recent study were at least mildly dehydrated — maybe enough to affect energy and concentration. Roughly 25 percent said they never drink water.
<iframe src="http://www.npr.org/player/embed/413674246/413849218" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
The amount of water to make the bottle could be up to six or seven times what's inside the bottle, according to the Water Footprint Network.
October 30, 2013 The bottled water industry says it uses water far more efficiently than other beverages. But water activists say that few companies in the beverage industry are calculating their total water footprint.
February 12, 2012 Colleges are pulling bottled water off campuses as students argue the products hurt the environment and aren't well regulated. But the industry fired back this week with a YouTube video it hopes will sway students to keep buying bottles of water.
Bottled water goes organic, but how is that even possible?
July 13, 2011 Marketing products as organic may attract customers, but the claim may be a little much for water. A quick Google search and a spin through the Fancy Food Show turn up lots of organic bottled water. It might be time to separate out some popular marketing buzz words from the actual science.
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Climate to blame for low honey pot
IT'S not so sweet a time for Ipswich honey producers like Trevor Weatherhead.
Due to unfavourable weather conditions, the Australian honey industry is expected to deliver the lowest national honey yields in at least a decade.
A combination of excessive heat, flood and drought has hit prime honey-producing areas in recent times and seen honey supplies fall by more than 50%.
The honey-producing process requires the right mix of temperatures and rainfall for nectar-producing crops to grow, set buds, flower and then have bees collect the nectar to ripen the honey.
But Mr Weatherhead, 65, the executive director of the Australian Honey Bee Industry Council, said erratic temperatures - both hot and cold - meant spring production was very low.
He said both beekeepers and honey packers were bracing themselves for the next year.
"Stock is now the scarcest it has been in more than 10 years and honey packers are finding it very difficult to secure supplies," he said.
"The last time we had negative weather conditions like this was back in the '90s, during a drought.
"It was tough, beekeepers just had to keep driving around to try and find areas where there were flowers.
"Some beekeepers had to get part-time jobs to support themselves because they couldn't do much with the bees."
Mr Weatherhead, of Peak Crossing, said it was more important than ever for Australians to support the local honey industry.
"We expect that the price of honey could go up in supermarkets as a result of the situation," he said.
"We're hoping the public will continue to buy honey as they would normally if that happens."
Domestic supermarket retail sales for honey are in excess of $150 million a year.


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Yesterday, ParkerVision, Inc.’s (NASDAQ: PRKR) (Price: $25.25) Chairman and CEO Jeffrey Parker claimed that the long-awaited Symbol Technologies, Inc. (NYSE: SBL) licensing agreement represents “a major recognition of our technology.” Yet ParkerVision refused to disclose any details that could be used to determine the value of the alleged agreement. In fact, ParkerVision has acknowledged that it received pre-paid royalties but failed to disclose the amount. We have received written opinions from RF consultants and engineers, and have spoken to six independent electrical engineers familiar with the D2D. Not one of these experts found ParkerVision’s D2D claims to be true or of any commercial value.
The Symbol phantom deal is far from the first time that ParkerVision has issued statements whose only value was to assist its fraudulent stock promotion. On July 23, 1997 ParkerVision announced it had entered into an agreement with the IBM Corporation (NYSE: IBM) to make and sell wireless products using its technology. At the time, Mr. Parker also claimed that the IBM deal had validated its “wireless technology.” No products were ever made or sold under the agreement. Six months later, IBM terminated its agreement with ParkerVision. On December 10, 1997, ParkerVision announced that its RF receiver chips were available for sale. ParkerVision has never sold a single chip.
ParkerVision has also twice falsely claimed positive test results. On March 3, 1998 ParkerVision announced that The Boeing Corporation (NYSE: BA) had verified its technology. Boeing refuted ParkerVision’s claim. Mr. Parker claimed ParkerVision was then ready to “negotiate strategic partnerships and OEM licensing agreements.” None has ever materialized. On December 2, 1998, ParkerVision announced favorable results of independent testing sponsored by Questar Corp. (NYSE: STR). ParkerVision also announced the signing of a letter of intent to develop D2D products with Questar. No product has been developed. According to R. Curtis Burnett, Vice President of Public Affairs for Questar Corp., the Questar testing was performed not by an independent firm or research laboratory, but by an individual who is now a ParkerVision employee.
Short selling involves a risk not associated with the purchase of stock including, but not only limited to, unlimited loss and stock borrowing risks. Additional information is available upon request.


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Facebook has announced that it will begin testing ads in VR games running on Oculus devices. This is a move that literally shouldn’t surprise anyone. Resolution Games’ Blaston and “Several Other Games” will be the first to participate in in-game ads that currently appear to be limited to billboard-type ads.
“Our main focus at Facebook Reality Labs (FRL) is to attract more people to VR, improve the consumer experience and advance long-term augmented reality initiatives,” Facebook says. “We are also looking for new ways for developers to generate revenue, which is important for creating a self-sustaining platform that can support a variety of business models that unlock new types of content and audiences. It’s part of it. It also helps make innovative AR / VR hardware more accessible to more people. “
“For now, this is a test using several apps. Once you’ve seen how this test works and incorporate feedback from developers and the community, the entire Oculus platform and Oculus mobile,” they said. I will add.
Ads follow the same rules as the Facebook platform in that they are targeted, and players gain control of the same types of ads that they do on social media platforms. “It contains controls for hiding certain ads or completely hiding ads from advertisers. Users can go through” Why are you seeing this ad? ” You can also access more detailed ad settings from any ad. I will explain Facebook.
Media giants scrape a huge database of likes to target ads, but don’t use data from the headset itself. No movement, height, weight, Oculus voice chat, etc. are used.
I’ve seen this kind of ad in games before. While past race titles like Burnout Paradise had billboard ads promoting real-world products, Facebook is planning other types of ads in VR games.
“We are currently investing in discreet ads as a new way for developers to build their business. We’re not ready to test yet, but we’re also looking for new VR-specific ad formats. “They say. “A more profitable content ecosystem is a key step towards truly mainstream consumer VR.”
Interestingly, Xbox, PlayStation, and Nintendo have all become mainstream without in-game advertising. With the dawn of mobile games, advertising has only recently become the only way to make money.
Surprisingly, Facebook is testing Oculus in-game ads –
Source link Surprisingly, Facebook is testing Oculus in-game ads –


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By Cliff Kuang
Ollie, a new smart lamp, can do everything your Echo or Google Home can do–and a lot more.
Voice assistant gadgets such as Alexa or Google Home are well on their way to mainstream ubiquity: Nearly 25 million are expected to ship this year, and by 2020 that figure is expected to swell to 60 million. Yet as Mladen Barbaric, the founder of Instrumments, sees it, the market’s still plagued by a problem. “Technology should be invisible,” he says, calling the prospect of adding yet another gadget to your home the “geek approach.” So instead, Instrumments created Ollie, a brushed-aluminum lamp with either Alexa or Google Home built in and a wireless charging station built into the base. It goes up for pre-sale today on Indiegogo, at prices starting at $89 for a table lamp with wireless charging, and the same price for a floor lamp without it.


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Great Wall has applied for patent on the production version of the Kulla EV concept that debuted on the Shanghai Auto Show in April. Chinese media say that Great Wall has decided to build the Kulla, with production expected to start sometime late next year.
The Great Wall Kulla concept at the Shanghai Auto Show.
The Kulla is a 1+1 city EV, a very similar idea as the Renault Twizzy. Power will come from an electric motor with 15 hp and 50nm, driving the rear wheels. Top speed will be 65km/h and range will be 100km. Charging on 220v will take about 4.5 hours.
The Kulla is certainly a smart plan for China’s traffic jammed cities, but whether it will sell depends on the availability of charging points in office and apartment buildings. Currently, there are basically none.


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Wednesday, 16 June 2010
Sytner Group announced as retail partner for McLaren Automotive
Sytner Group are delighted to announce that we have been appointed as representatives for the McLaren brand in the UK.
Sytner Group will represent the brand as McLaren Manchester across the North and North West regions of England and Scotland, which will come under the wing of Jon Crossley; Managing Director of Bentley Manchester.
Sytner Group looks forward to introducing McLaren to our customers and we are proud to have the opportunity to work in partnership with such an exciting brand.
For more information in regards to vehicle availability, please contact Peter Kelsall, General Sales Manager - McLaren Manchester, on 01565 756 475.
Below you can read an exert from McLaren’s recent Press Release.
McLaren Automotive, the world’s newest sports car company, today announces that Sytner Group will represent the brand as McLaren Manchester across the North and North West regions of England and Scotland.
One of three outstanding and experienced retailers partnering with McLaren Automotive in the UK, Manchester-based Sytner will open exclusive new premises to cater for the all-new McLaren MP4-12C which arrives in spring 2011. The location and details will be announced shortly.
Jon Crossley, Sytner's Managing Director for its McLaren franchise in Manchester said,
"Our enthusiasm for prestige motor cars is coupled with a great passion for motor racing and particularly Formula 1. This announcement is terrific news for my team who have a great understanding of, and appreciation for, the supercar market.
They are very excited by the new McLaren’s close relationship to motor racing technology and its world-leading carbon innovation. We are really looking forward to introducing the new McLaren to our customer base and being a part of a very exciting future with such a prestigious brand."
The UK, along with the USA, will be McLaren’s biggest market, and initial interest in the UK for the 12C already exceeds the first year’s allocation.
Sytner and the two other local retailers (McLaren Birmingham and McLaren London) will join a global network of 35 partners in 2011 who will be responsible for selling a planned production volume of 1,000 12Cs.
A full model range of high-performance, two-seat, mid-engine McLaren sports cars will be completed by the middle of the decade.
Antony Sheriff, McLaren Automotive’s Managing Director, said:
“I am thrilled to announce the relationship between McLaren Automotive and its UK representatives - three of the best car retail businesses in the world.
The UK is our home, and the strong demand for the 12C from potential retailers and prospects is evidence of the strength of the McLaren brand in the UK.
We now have the ideal partners in the UK who have enormous experience in delivering extraordinary customer service to help us deliver on those expectations.”
Carbon and Formula 1 at the heart of 12C
Taking on the world’s best premium performance cars, the 12C will be lighter, more powerful, more fuel efficient and more exclusive than its key competition. It will achieve its performance benchmarks by introducing a unique, McLaren-developed carbon MonoCell chassis into the ‘core’ sports car segment in a production process that introduces technical innovation and new levels of quality to the market.
All McLarens will be based on this Formula 1-inspired carbon structure; since the 1981 Formula 1 MP4/1 racing car, McLaren has only ever constructed its racing or road cars around carbon fibre chassis.
Key to McLaren’s aspirations has been the integration of Formula 1 with the road car project. Through simulation, the flow of processes and principles between McLaren’s road car and racing car engineers, and the employment of a number of Formula 1 experts on the road car team, the 12C has been designed, developed, and engineered to the same standards, expectations and speed of thought as the company approaches its Formula 1 projects. McLaren Automotive and McLaren Racing are just metres apart under the same roof at the McLaren Technology Centre (MTC), and have combined to deliver a sports car designed for aerodynamic performance, just as in Formula 1.
New factory and global plans
A brand-new manufacturing facility, the McLaren Production Centre (MPC), began construction on March 1 2010 adjacent to the MTC. It will begin to build cars for the UK from spring 2011. The very first UK customers will have their cars built in the first months of 2011 in the MTC, prior to the opening of the MPC. This planned manufacturing programme will ensure the same unprecedented quality that McLaren delivered on the SLR is transferred onto all future McLarens.
Of the 19 countries, and 35 retailers, launching McLaren Automotive, the UK, USA, and Germany will be the company’s biggest markets for the 1,000 12Cs planned for production in 2011. Between 300 and 400 cars are planned for North America, 400 to 500 for Europe (70 per cent to UK and Germany), and 100 to 200 each for the Middle-East/South Africa and Asia-Pacific regions.
Following the March 2010 McLaren Automotive press conference, The Launch of a New Car Company, over 2,500 potential customers have now expressed a ‘serious intention to buy’ the 12C. The first 12Cs will be delivered to customers in Europe, followed by a phased distribution to retailers in the Middle East, South Africa, North America and Asia Pacific.
Prices for the 12C will be confirmed at a later date, but the car will sit in what McLaren terms the ‘core’ sports car segment of cars priced between £125,000 and £175,000.
McLaren’s 2011 global retail network: Mclaren Automotive will be represented in the following 35 cities and markets:
- Europe: UK (Birmingham, London, Manchester); Germany (Dusseldorf, Hamburg, Frankfurt or Stuttgart, Munich); Belgium (Brussels); France (Monaco, Paris); Italy (Milan); Spain (Madrid or Barcelona), Switzerland (Zurich)
- North America: Canada (Toronto); USA (Chicago, Dallas, Los Angeles, New York, Miami, Orange County, Philadelphia, San Francisco, Tampa)
- Middle East / South Africa: UAE (Abu Dhabi, Dubai); Qatar; Saudi Arabia (Jeddah, Riyadh); Kuwait; Bahrain; South Africa (Johannesburg)
- Asia Pacific: Hong Kong; Singapore; Sydney; Tokyo


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Placeme isn’t what we’d consider a brand new app. Launched last December the app emerged quietly onto Google Play, only recently gaining attention from the press with an earlier review from Forbes, and a 32-minute video interview from the famed Robert Scoble. And this is where the controversy gets going. Placeme’s app is a personal tracking tool that automatically logs all sorts of data based on your location. No more checking-in or other mandatory actions that require you to whip out your phone. At the end of the day you’ll get a complete summary of where you’ve been and when you were there, all viewable on a map and awaiting any notes you’d like to add for context. It’s very cool, but raises some privacy concerns.
Developed by Alohar Mobile, Placeme founder Sam Liang has a vision of the future that benefits greatly from such detailed personal data, sending alerts before you’ve even thought to check on things like traffic on the way home from work, nearby gas stations with lower prices and calling 911 when you’ve been in an accident. Placeme uses every possible sensor on your phone, combining this incoming data to generate a picture of where you are and what you’re doing. Your GPS and accelerometer are useful sensors for ambient apps such as Placeme, but putting that data to good use is another story.
Personal data, privacy and empowerment
The privacy debate has already been raised around Placeme’s app, which brings to the forefront an ongoing discussion of what apps should have access to our personal data and how businesses should be able to use it. Social media has ushered in a new era of market research, providing ready data sets contextualized with historic consumer behavior. Add a location-aware smartphone to the mix and you’ve got a highly personalized set of data that can be used in the collective, or for individual recommendations. Placeme is a solid reminder of where data is headed in the future, and its very presence is also a reminder of where data’s already been in the past. Businesses have been built around consumer data for years, leading up to the very possibility of an app like Placeme. Google itself is looking to leverage ambient data, detected through smartphone sensors, to offer better ads, thanks to its recent patent application. But there’s still a long way for personal data to go, and they’ll have to tread lightly.
Creating value around our personal data will be key to Placeme’s success, along with third party app integration, deep device integration for its own native app, and a string of services that empower the end user, not scare them. Liang seems well aware of this, as he hopes to integrate Placeme data with shopping, restaurant and health apps. As a former member of the Google Location Server team, which provides data to Google mobile apps, and the guy that helped create that little blue dot you see when you turn on your maps on your iPhone or Android smartphone, Liang has a long history with location data. And with angel investor David Cheriton, the guy who wrote the first check to the Google founders in 1998, Liang could very well be the one to revolutionize personal data for pragmatic use.


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The Maersk group has been hit by a cyber attack that has affected its operations around the world, closing terminals in Rotterdam and the Port of New York and New Jersey.
The Danish transport and energy group said its information technology (IT) systems are down across multiple sites and business units owing to the attack.
“We continue to assess the situation,” the company said in a statement posted to Twitter.
“The safety of our employees, our operations, and customers’ business is our top priority.”
“We will update when we have more information,” the Copenhagen-based company said.
APM Terminals (APMT) Maasvlakte 11 container terminal in Rotterdam is said to have shut down owing to the attack.
APMT’s terminal in the Port of New York and New Jersey was also impacted, and forced to close for the day.
The attack is disrupting operations for businesses and governments throughout Europe, hitting Ukraine particularly hard, and is similar to the so-called “WannaCry” attacks that paralyzed digital infrastructure around the world in May, according to the Russian cybersecurity firm Group-IB.
Like WannaCry, this attack involves ransomware, which hijacks control of a computer and demands payment to an online address in return for regaining acess to data and systems.
This is not the first time a container line has fallen victim to a cyber attack, as a 2011 cyberattack against state-owned Islamic Republic of Iran Shipping Lines crashed the carrier’s IT system, resulting in the loss of data tracking its 170-ship fleet and some cargo.
In 2014, hackers stole financial records, customer data and shipment manifests from as many as seven shipping and logistics companies.
A 2011 cyberattack against state-owned Islamic Republic of Iran Shipping Lines crashed the carrier’s IT system, resulting in the loss of data tracking its 170-ship fleet and some cargo
This story will be updated as more information becomes available.
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Contact Bruce Barnard at firstname.lastname@example.org.


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Well, that didn’t take long. Qihoo 360 was reportedly interested in buying Sogou, but no sooner had Sogou scored an investment from Tencent than the ugly words and the lawsuits started to fly. Qihoo CEO Zhou Hongyi, never one to shy away from public shit-talking, took to the press almost immediately to claim that Qihoo wasn’t interested in Sogou after all, mostly because Sogou CEO Wang Xiaochuan was selfish for wanting to continue to develop Sogou independently, and to claim that Baidu was only ever in the running to jack up Sogou’s price beyond what Qihoo could afford.
Now, the war has gone beyond words, with both companies suing each other for unfair competition. Yesterday, Sogou announced it was suing Qihoo for 45 million RMB ($7.3 million) in damages, claiming that Qihoo’s software switches Sogou users’ default web browser to Qihoo’s 360 Safe Browser without their permission. Later that same day, Qihoo announced that it was suing Sogou for 50 million RMB in damages ($8.1 million) for binding a Sogou input method update with a copy of the Sogou browser and guiding users to install that. It claims its own software switching users back to the 360 Safe Browser is just a way of reversing the effects of the bundled browser download for users of Sogou’s input method who prefer not to use its browser.
Qihoo, of course, is no stranger to China’s court system, but given its record, one has to wonder why it keeps entering these situations voluntarily. The company has lost several lawsuits to Tencent and at least one lawsuit with Baidu in recent years, though it has additional cases pending against Baidu and the National Business Daily, among other entities. Perhaps it will find more success in this bout of suits with Sogou.


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Cathie Wood Buys Palantir Stock Worth Over $43M – Twilio (NYSE:TWLO), ARK Next Generation Internet ETF (ARCA:ARKW), ARK Innovation ETF (ARCA:ARKK), Palantir Technologies (NYSE:PLTR) – Benzinga
Cathie Wood-led ARK Investment Management loaded up a whopping stake in Palantir Technologies Inc PLTR after the company declared strong quarterly earnings and said it expects to remain profitable each quarter through the end of the year.
Funds operated by ARK bought over 4.37 million shares of Palantir at an estimated valuation of over $43 million. The purchase was done through the flagship ARK Innovation ETF ARKK and the ARK Next Generation Internet ETF ARKW.
Palantir’s first-quarter revenue increased 18% year-over-year to $525 million, which beat an average analyst estimate of $505.6 million. The company sees full-year revenue in a range of $2.185 billion to $2.235 billion against an estimate of $2.2 billion.
“And we now anticipate that we will remain profitable each quarter through the end of the year. In addition, for the first time in our history, we earned an operating profit last quarter. We generated $525 million in revenue in the first quarter, a result that surpassed our initial guidance and yet still understates the magnitude of the opportunity in front of us,” CEO Alex Karp said in his letter to shareholders.
The stock jumped over 33% in the last five days and is up over 55% since the beginning of the year.
Major Buy: ARK also bought over 416,000 shares of Twilio Inc TWLO at an estimated valuation of over $20 million. The purchase comes on a day when the stock fell over 12% after the company reported first-quarter results and issued weak top-line guidance. Twilio expects second-quarter revenue to be in the range of $980 million to $990 million versus an estimate of $1.05 billion.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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Dekko ISHO Technologies (DITECH), a concern of a leading conglomerate Dekko ISHO Group, has signed a strategic capital investment agreement with Fashol.com Limited, a business-to-business (B2B) startup aiming to change the country's age-old perishable supply chain using technology, data, and efficient logistics.
Under the agreement, they would work together for a long time in their efforts to contribute to attaining food security and create a better world, Dekko ISHO's Director Prottoy Hossain told the signing ceremony on Saturday.
He said, “Fashol.com has the potential to have an immense positive impact on this issue, nationally, and hopefully someday, globally as well."
With a vision to create value for the Bangladesh ecosystem, Fashol.com provides higher profit margins and on time payments to the farmers, doorstep delivery, hygienic vegetables and fruits and hassle-free business for retailers, and also traceable and safe food for the consumers, says the company.
“Agriculture sector is one of the biggest economic drivers for our country. However, the whole ecosystem is still working as it was 150 years ago. So, we need to put more resources and talents in this sector to get this whole ecosystem ready for the next technological era,” said Sakib Hossain, CEO and Founder of the Fashol.
He recalled, “When I started fashol.com, some of our customers had laughed at, saying no one would buy from us this way; today they can't even think of running their businesses a single day without fashol. That's the power of technology we wanted to bring in this ecosystem."
"We have been fortunate to get the opportunity to work with such a team and the partnership we have received from Dekko ISHO Group is remarkable. This took us a big stride towards fulfilling our ultimate vision,” he said.
The ceremony held at Dekko ISHO's corporate office was also attended by Fashol.com Co-founder Mamunur Rashid and Chief Technology Officer Ashikur Rahman Ashik.
Fashol.com started its journey in 2020, and has distributed around 1.5 million kilograms of vegetables and fruits among retailers, according to a release.
The signing ceremony coincided with the World Food Day, observed worldwide on October 16. October, The company the day through distribution of lunch to 2,000 less fortunate people, while Fashol provided grocery packs for 500 people. This initiative was undertaken in partnership with non-profit organisation Bidyanondo.


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Since it’s introduction in 2013, the European Union Timber Regulation (EUTR) gains more and more traction. The timber regulation is being enforced every day and we see that wood companies who don’t comply to the regulation are being held responsible and fined.
The EUTR is a regulation that prohibits the use of timber and timber products that are harvested under illegal circumstances. When the EUTR was introduced there was critique that the regulation was to complex, enforcement wouldn’t be possible and it would be in conflict with due diligence programs that were already in place.
However, we’ve seen in 2017 some examples where the EUTR was enforced. Last October a London based furniture retailer was fined because they failed to exercise the required due diligence. In the Netherlands we saw another company being fined because they put illegal Burmese teak on the market. A year earlier, the exact same thing happened in Sweden.
These are just three examples that show that companies must have control over their supply chains. At ChainPoint we believe that, in order to comply to regulations such as the EUTR, companies must have full knowledge over their supply chain. Our software is suited for any industry and the wood and timber industry is no exception. If you want to see how our software platform for timber compliance works, we recommend watching our timber webinar.