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Wunderman Thompson Shanghai
Tue, 17 Aug 2021 09:36:00 GMT
Wunderman Thompson China strengthens its creative and strategic capabilities with new leadership appointments of Raymond Chin as chief creative officer and Joyce Ling as chief strategy officer, under the leadership of Carter Chow, chief executive officer of Wunderman Thompson China.
Carter Chow, chief executive officer of Wunderman Thompson China said: “Their experiences since their previous tenure at J Walter Thompson has mirrored our growth as an agency network, and we are glad for the opportunity to work together again. I am certain that both Raymond and Joyce will further our growth as a future-focused agency and look forward to the collision of inspiration and ideas.”
With 20 years of experience as a leading 360 creative, Raymond Chin has used creative innovation to propel many brands’ digital transformation. Having previously served as Digital Creative Director at J Walter Thompson Shanghai from 2008 to 2013, Chin returns to the Wunderman Thompson network after serving as Accenture Interactive's chief experience officer, leading Droga5 in creating a more meaningful and targeted customer experience for brands. Chin’s leadership helped the company to win numerous awards in major awards festivals including Campaign Asia's "Best Working Environment" and Agency of the Year's "Best New Business Team".
Chin said: "Brand creativity should not be just about communication but should also cover all dimensions of brand experience from product, service to CX innovations. It’s why I am excited to return to Wunderman Thompson, an agency that believes in this experience-driven approach.”
Joining Chin in returning to Wunderman Thompson is Joyce Ling as chief strategy officer, who will be leading the strategy team to bring clients innovative and forward-looking integrated marketing solutions.
Ling was previously the chief strategy officer for J. Walter Thompson, Greater China and was also previously chief strategy officer at McCann Worldgroup China, and vice president of strategy at Publicis.Sapient.
Ling added: “It’s very exciting to be back at the Wunderman Thompson network. I look forward to enhancing our strategic offerings to set up for client success, together with a team of driven and passionate talents.”
Having 20 years of experience in both traditional and digital advertising in China under her belt, Ling's experience spans industries, including technology, luxury goods, FMCG, health, tourism, and lifestyle. She has worked on more than 100 brands, including Nestle, Michael Kors, LVMH, Heineken, Unilever and more.view more - Hires, Wins & BusinessWunderman Thompson Shanghai, Tue, 17 Aug 2021 09:36:00 GMT


text: Samsung has released a new teaser video ahead of the Galaxy S7’s official unveiling that confirms that the device will have a water resistant design. In the teaser video below, which promises “this is the next level,” Samsung shows off that water-resistant design in a rainy forest. It also confirms the return of S Health and built-in wireless charging that doesn’t require special cases. The video also confirms the Galaxy S7 edge will look almost identical to the Galaxy S6 edge, just a bit larger. What do you think of the S7 having a water resistant design ?

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Nikon Allegedly Nixes Future DSLR Camera Releases To Focus On A Mirrorless Future
Japanese camera maker Nikon could be looking at scrapping any new SLR (single-lens reflex) camera models in favor of mirrorless cameras. The move is said to be due to the ever increasing move toward mirrorless offerings and the expanded performance of smartphone cameras.
When it comes to photography, the saying is "the best camera is the one you have with you." This has made smartphones the go to for most people since you typically always have your phone with you. Many professional and enthusiast photographers have traded in their trusty DSLRs in favor of the lighter and smaller mirrorless cameras. All of this seems to be leading Nikon to move away from making any new DSLR camera models.
Smartphone cameras have been making tremendous leaps in performance over the last few years, mainly due to software enhancements. Samsung's Galaxy S22 Ultra comes with a powerful camera array that features a 108MP f/2.4 3x telephoto lens. With more smartphone makers upping their camera game as well, it is easy to see why many people are opting not to buy an additional camera, when the one in their pocket is more than capable of capturing the photos they desire.
Nikkei Asia says that Nikon is feeling the pressure from people sticking with their smartphone cameras and opting for the smaller and lighter mirrorless cameras. Therefore, it says Nikon has decided that while it will continue to produce and market existing DSLR models, but it will not be making any new models. The company will instead look to offer mirrorless cameras with more features in order to compete.
Last month Nikon announced that it would be discontinuing two of its more affordable DSLRs, the D3500 and D5600, stating it wanted to focus more on its "mid to high end cameras and lenses, targeted at professional and hobbyist photographers." According to Nikkei, Nikon sold more than 400,000 SLR cameras last year.
In a statement regarding the company deciding to move away from SLRs, Nikon did not confirm or deny the reports. It stated, "This media article is only speculation and Nikon has made no announcement in this regards. Nikon is continuing the production, sales and service of digital SLR." So make of that what you will.
Top Image Credit: Nikon


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WENATCHEE, Wash. – Don't call him Lucky.
Wenatchee police say they arrested a 47-year-old Tacoma man for investigation of first-degree theft after he ran out of gas as he was leaving a store where Native American collectibles were stolen.
Alerted to the thefts by the store owner, police found the man on foot Wednesday after his car stalled about 50 feet from its original parking spot.
Sgt. John Kruse says the man is suspected of stealing several Indian collectibles from the Discount Center. Kruse says he was also in possession of several necklaces stolen from the Antique Mall — and is suspected of stealing a beaded Native American ceremonial garment bearing a price tag of $10,500.
Police are calling him the Bad Luck Bandit.
Information from: The Wenatchee World, http://www.wenatcheeworld.com


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|By Marketwired .||
|December 6, 2012 12:00 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/06/12 --
Editors Note: There is one image associated with this press release.
Turn on your Rudolph mp3, pour yourself a low-fat cocoa and curl up beside the faux fireplace with your cellphone: the winter holidays have entered the 21st century and are playing out before our eyes on social media.
HootSuite, makers of the market-leading social media management system, has gotten into the holiday spirit with a dedicated Holiday social media command center, gathering together all the treats Twitter and Facebook have to offer this December.
Visit Now: http://hootsuite.com/2012-holiday-tracker
Anyone in the retail industry knows what a valuable time of year this is, but also how hectic and even frustrating it can be for customers. Understanding the real-time sentiment of seasonal shoppers will give businesses insight on how their clients are feeling about stores, products and the shopping experience in general.
The HootSuite Holiday command center compares:
-- Twitter mentions of the most popular devices, toys and gaming consoles -- Twitter mentions of major retailers -- Amount of people talking about major airlines on Facebook
More broadly, the command center will offer insight into how many people are tweeting about the holidays, and their sentiment about both the holidays and their shopping experiences.
"The retail information included in this command center is a perfect illustrations of how companies can capitalize the endless stream of data being posted on social networks," says RyanHolmes, CEO of HootSuite. "All the the tools we feature in the HootSuite dashboard are invaluable sources of information and are ideal for customer interaction. The command center is the hub where these social assets can be best be analyzed and utilized by businesses."
HootSuite, whose patented social media dashboard is now utilized by over five million global users, announced the creation of HootSuitecommandcenters in October 2012 to help organizations get the most value from their social media management. The offering, soon available to HootsuiteEnterprise clients, will let companies, especially large enterprises, command and control all of their social activity by giving social media teams the ability to monitor, measure and react to all online activity in real-time.
A history of HootSuite Enterprise command centers
The command center was put on display during the American presidential election this fall. Journalists and members of the public watched the social media election story unfold on a command center that compared the mentions and likes of both candidates. The command center made it clear that Barack Obama's victory in the polls was accompanied by a victory in social media influence.
- HootSuite command center: http://library.hootsuite.com/commandcenter
- HootSuite Enterprise: http://hootsuite.com/enterprise
- Media Kit: http://media.hootsuite.com/media-kit/
HootSuite is a social media management system for businesses and organizations to collaboratively execute campaigns across multiple social networks from one secure, web-based dashboard. Launch marketing campaigns, identify and grow audience, and distribute targeted messages using HootSuite's unique social media dashboard. Streamline team workflow with scheduling and assignment tools and reach audiences with geo-targeting functionality. Invite multiple collaborators to manage social profiles securely, plus provide custom reports using the comprehensive social analytics tools for measurement. Key social network integrations include Facebook, Twitter, LinkedIn, and Google+ Pages, plus a suite of social content apps for YouTube, Instagram, Tumblr and more. To learn more, visit: www.hootsuite.com.
To view the image that accompanies this press release, please visit: http://www.marketwire.com/library/20121205-hootsuite-holiday-tracker-screenshot-800.jpg.
Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified – now it's a component-based well-performing framework. This immersive one-day workshop at 18th Cloud Expo, led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and the product company SuranceBay, will provide you with everything you wanted to know about Angular 2.
May. 1, 2016 01:00 PM EDT Reads: 1,722
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
May. 1, 2016 12:45 PM EDT Reads: 759
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
May. 1, 2016 12:15 PM EDT Reads: 2,310
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
May. 1, 2016 12:00 PM EDT Reads: 1,103
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
May. 1, 2016 11:45 AM EDT Reads: 1,480
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
May. 1, 2016 11:00 AM EDT Reads: 814
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
May. 1, 2016 11:00 AM EDT Reads: 1,083
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
May. 1, 2016 10:15 AM EDT Reads: 1,149
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
May. 1, 2016 09:45 AM EDT Reads: 977
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
May. 1, 2016 09:45 AM EDT Reads: 911
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
May. 1, 2016 07:30 AM EDT Reads: 946
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
May. 1, 2016 07:00 AM EDT Reads: 820
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
May. 1, 2016 06:30 AM EDT Reads: 2,485
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
Apr. 30, 2016 04:15 PM EDT Reads: 1,686
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
Apr. 30, 2016 02:30 PM EDT Reads: 1,723
IoT device adoption is growing at staggering rates, and with it comes opportunity for developers to meet consumer demand for an ever more connected world. Wireless communication is the key part of the encompassing components of any IoT device. Wireless connectivity enhances the device utility at the expense of ease of use and deployment challenges. Since connectivity is fundamental for IoT device development, engineers must understand how to overcome the hurdles inherent in incorporating multipl...
Apr. 30, 2016 02:15 PM EDT Reads: 1,462
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Apr. 30, 2016 01:15 PM EDT Reads: 686
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
Apr. 30, 2016 01:15 PM EDT Reads: 1,541
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
Apr. 30, 2016 11:15 AM EDT Reads: 897
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
Apr. 30, 2016 10:00 AM EDT Reads: 765


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Since Bajaj launched the Pulsar F250, the 220F went retired from a long journey but recently it was observed that the new Pulsar F250 didn’t live up to the expectations, therefore the brand is once again bringing the 220F model Bajaj Pulsar back in the market. Actually, the reports, stated that after the launch of 250F, the brand started losing its grip over the audience of 200-250CC and to keep the bike’s presence in the market, the brand is looking ahead to launch the latest Bajaj Pulsar 220F 2023. However, there is no doubt that the 220F segment was a crucial product in the lineup that was keeping the brand’s presence, and once again Bajaj is looking ahead to launch its market-dominating product.
Despite being an upgrade in the terms of engine, the Pulsar 250F didn’t manage to engage sales as per the expectations and this is the big reason that the brand is not pushing more P250. However, it is still under the veil if Bajaj will discontinue the latest Pulsar but it seems like it will slow down the production of the product. Now, if we talk about the latest updates that are being made against the previous Pulsar 220F then we would like to tell you that recently a tweet was shared by a Bajaj dealership named Banerjee Bajaj Durgapur, in the tweet, it is written “Here comes the fastest Indian bike back on the streets for the love of riding”.
2023 Bajaj Pulsar 220F
Since, the news of the latest Bajaj Pulsar 220F broke on the internet people are searching for many things such as bajaj pulsar 220f on-road price, pulsar 220 new model 2023 price, and so on. Now, it has become the talk of the town what would be new things in the latest Pulsar 220F. However, it can not be doubted that it is one of the most loved and legendary segments of the brand that has been managing to continue sales.
So, the Roadster body-type bike is once again all set to sparkle its presence in the Indian market, and no doubt that when people will get to know that the bike is coming along with some more specs and features into it then no doubt its sales will boost for sure. However, the brand has not opened up about many features and specs therefore it seems like the features in the bike will remain the same as the previous one but online surfacing reports have claimed that the bike will come with some minor changes such as a semi-digital console, a 15-liter fuel tank, LED projector headlamp, and a LED tail lamp.
2023 Bajaj Pulsar 220F Price & Launch Date
Now, coming to the price segment of the bike then the bike is expected to launch in India by the end of March 2023 in the expected price range of ₹ 1,35,000 to ₹ 1,40,000. Although, the bike will look almost the same as the previous model, however, there would be some minor changes but the legendary bike will be powered by the same 220 CC engine. Apart from these updates, much more things are yet to be confirmed officially by the brand so till then stay tuned with us to catch more updates in the automobile world.


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Motorola CEO, Aymar de Lencquesaing, today announced that the company is looking into creating a Tango Moto Mod for the company’s flagship Moto Z smartphone. de Lencquesaing said the following about the compay’s plans:
The tablet folks did a phablet and worked with Google, the Tango team, to come out with a Tango phablet. Going forward, we'll have to address as a group how do we reconcile the products that are at the fringe? We're likely to to have a Tango module to basically enable the Z to have Tango functionality.Aymar de LencquesaingMotorola
Lenovo has become the first manufacturer to create a Tango smartphone for consumers with the Phab 2 Pro. Now that the device has successfully launched, Lenovo is looking for ways to move from that point with Tango. Utilizing its Motorola brand is a natural springboard, bringing the technology within reach of the vast amounts of customers who use Motorola products. With the power of the Moto Mod system, Lenovo can likely integrate Tango technology into a mod for the current flagship, rather than creating an entirely new device.
While this Moto Mod is currently still in the conceptual phase, we expect it to come into being in a short span of time. We’ll keep you posted on the progress of this Mod.


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- Almost two years after going public, Digital Brands Group is planning to go private after being approached by a private equity firm, according to a company call Tuesday.
- Although it did not name the firm, Digital Brands CEO Hil Davis said on the call the firm already owns multiple brands and that the companies started a due diligence process.
- However, Davis noted that “if the price were to come in lower than we expected and our valuation doesn't change, we will hire bankers to go private.”
For Digital Brands Group, going private comes after a rough performance since it began publicly trading on the New York Stock Exchange.
Davis said on Tuesday's call that the private equity firm the company is working with appreciates Digital Brands' business, whereas "clearly, the markets now don't value our model."
The company received several delisting warnings from the New York Stock Exchange. In January 2022, Digital Brands was notified by the NYSE that it risked delisting because its common stock Market Value of Listed Securities had been below the minimum $35 million required. After not regaining compliance with the standard, the company received another notice in July saying it would be delisted if it did not appeal. It appealed the notice, after which Digital Brands was given an extension to meet compliance. However, it then received another delisting warning in November because its bid price had closed below 10 cents per share for the preceding ten consecutive trading days.
To regain compliance, Digital Brands implemented a reverse stock split in November and received a notice in January that it successfully met Nasdaq requirements. But the company noted in a filing that month that “there can be no assurance that we will be successful in its efforts to maintain the Nasdaq listing.”
While Digital Brands was working to stay listed, it was also trying to close the acquisition of apparel brand Sundry. The intent to acquire the brand was announced in January 2022 and officially closed a year later. To partially fund the closing of that deal, Digital Brands turned to investors in December and closed on a $10 million public offering.
During Tuesday’s call, Davis said Sundry’s focus has been on wholesale since the acquisition.
“After a competitive analysis and review of the business, we decided to reposition Sundry and lower their price point to compete with Marine Layer, Free People, AG Supply and others like that versus being toward the high end of the market,” Davis said.
This new pricing approach, according to Davis, has helped Sundry increase the number of boutiques it sells through from 500 to 1,500 stores. The number of major department stores buying Sundry has increased from two to six, and the buyers are now able to buy more units per style.
While the company is at risk of bankruptcy, Digital Brands is planning to reach a positive EBITDA by July, according to Davis, stemming from plans to launch a membership program, a licensing deal with an off-price retailer for the Bailey 44 brand and a new affiliate launch campaign.


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A decade ago, Sweetgreen Inc. co-founder Nicolas Jammet couldn’t imagine his salad-focused chain featuring a dish with barbecue sauce. But in mid-June, a chicken salad with just that flavor appeared as a seasonal choice to appeal to a broader set of diners.
(Bloomberg) — A decade ago, Sweetgreen Inc. co-founder Nicolas Jammet couldn’t imagine his salad-focused chain featuring a dish with barbecue sauce. But in mid-June, a chicken salad with just that flavor appeared as a seasonal choice to appeal to a broader set of diners.
Sweetgreen has been expanding beyond city centers after taking a massive hit during the pandemic when office workers stayed home. It’s opening more locations in the US South and Midwest to diversify away from the coasts. And it wants to bring in a wider array of guests, including those looking for heartier meals.
At the core of that effort is the menu, and Sweetgreen recently hired former Burger King Corp. and Chipotle Mexican Grill Inc. executives to help dream up what’s next. The salad shop recently raised its outlook for one measure of earnings after posting its first quarterly profit since going public in November 2021.
Bloomberg recently sat down with Jammet at the chain’s Bowery location in downtown Manhattan to chat about life beyond lettuce.
Sweetgreen is commonly associated with, well, greens. But you’ve expanded beyond that. Why?
We want to have a heartier range of options that appeal to some of our existing customers during different parts of the day, but also to new customers. If you look at our menu over the last 16 years, it has evolved so much. In general over the last couple of years it’s definitely broadened in terms of the “heartiness” scale, with more grains and more proteins.
We just added this Italian chopped salad that has salami, spicy banana peppers and red wine vinaigrette with avocado oil. That appeals to a pork consumer. We also have the barbecue chicken salad. It’s not even a radical menu add. But even seeing that plate evolution speaks to a different customer.
We know the ultimate thing that drives consumer behavior is craveability. The big focus as we expand to more and more places around the country and reach a broader, more mainstream customer, is how do we really add some of those more mainstream flavors and heartier options to our menu?
Do tastes differ much across the country?
Our most popular bowl is the harvest bowl, and we’ve seen that in every region. We spend a lot of time with our customers regionally just understanding them. One of the funny examples: We did tastings for the hot honey chicken plate in Texas and people were like, this is not hot. This is not spicy. We’re like, okay we have chili pepper flakes, you can add them.
How’s the Infinite Kitchen, Sweetgreen’s automated salad machine, doing?
Something that the external world is more concerned about than us is the idea of up time. It hasn’t gone down one day. There’s been a lot of great lessons around how team members are learning to troubleshoot the machine when something does go wrong, like when one of the lanes is overfilled or some part is stuck. And the machine goes so fast that the person doing prep has to keep up with filling it, so we have to think about labor deployment.
We’re three months in, so we’re still learning a ton. We are opening a second one this year in Huntington Beach, California. The idea is more future-focused in general — we don’t have a plan in the next year to like retrofit every store. Still, I think the Infinite Kitchen has the ability to really be a transformational format for us.
What does all this automation mean for how many workers you’ll need in the future?
I don’t know. I think we’re still learning that, because even though it removes certain positions, it also adds certain positions. There’s now a host position. That’s an employee who greets guests and asks: “Have you been here? Do you want to taste something?” That’s helpful because if you’re a brand new customer and you walk into Sweetgreen at peak lunch on a Tuesday, it’s overwhelming.
We also have to teach certain roles, almost like a technician of this automated equipment. We’re still learning the labor model.
A common complaint with online orders is that portions are off or ingredients are missing. What can you do to remedy that?
When someone’s making the order not in front of the customer, it’s just a different dynamic. And ultimately we believe that what you measure will improve. And so we are maniacal about measuring things like accuracy and customer complaints in all the stores. Every store manager gets a scorecard and they see it almost daily that says hey, yesterday we had customer complaints because there’s something missing. It’s a discipline and a lot of the tools we’ve built can help optimize it, but it’s kind of like a reality of human error.
It’s something we can keep improving, but we’ll never get to zero. It’s also part of what gets us the most excited about the Infinite Kitchen. Accuracy is 100% with the machine.
The pandemic transformed consumer behavior. What have you seen lately?
This past year, we’ve been really excited to see a big return to the frontline, meaning in-store orders. We’re seeing some of the delivery channels decline a bit. Some people want food to come to them, but there’s friction with delivery costs. That’s why our Outposts have been so powerful, where we take these shelves and put them in office buildings and it’s a batch order. So it comes to you, but without the delivery fee.
Editor’s note: This conversation has been edited and condensed.
Is the American consumer flush with cash or about to go broke? Share your views in the latest MLIV Pulse survey.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.


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The research team of a knowledge-based Iranian company mass-produced nano silica after years of research and development (R&D) work.
The size of particles used in the produced nano silica is between 15 to 35 nanometers.
The nano silica produced by the Iranian company can be used in tire and plastic industries as a strengthener due to its large surface area.
Iran has made huge progress in different sciences and technologies in recent years.
Iranian Vice-President for Science and Technology Sorena Sattari announced early in December that Iran stood atop the nations of the region in the production of science and technology.
"Now, Iran ranks first in the region in science and technology," Sattari said, addressing a forum on stem cells in Tehran.
In relevant remarks earlier this month, Head of Iran’s Nanotechnology Initiative Council (INIC) Saeed Sarkar underlined the country's huge progress in manufacturing and exporting nanotechnology products.
"Fortunately, we are witnessing that nanotechnology products are being exported to over 45 countries of the world and we are witnessing the growing flourishing of this arena," Sarkar told FNA on the sidelines of the 12th International Nanotechnology Festival and Exhibition in Tehran.
He added that last year, Iran had planned to lead the nanotechnology exhibition towards industrialization, and said this goal has been attained by the 50% increase in the number of companies participating in the exhibit.


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Egyptian PP prices gain ground for late Jan in Turkey
Deals for Egyptian PP raffia and fibre cargos were both concluded at $1000/ton DAP Turkey, cash last week. However, PP raffia was dealt higher at $1040/ton with the same terms while PP fibre was also traded higher at $1050/ton and then $1070/ton. “We sold some additional allocations for end January at higher levels compared to our previous deals. New February prices are yet to surface in the PP market while overall activity remains calm,” a trader commented. A converter also confirmed receiving PP fibre price at the abovementioned level for Egyptian fibre.
Some sellers claim that PP prices might be nearing the bottom as the amount of losses has narrowed in energy markets, spot propylene are up in Asia amidst supply concerns and prompt supplies are limited in Turkey.
However, other players still keep their expectations of seeing some more declines, saying that end product markets are not very strong and that this may keep purchasing amounts to a bare minimum. Plus, the possibility of lower February propylene contracts in Europe as well as the approaching Chinese New Year Holiday in Asia may also keep sentiment soft.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- 3-digit hikes in Oct PVC offers reinforce supply-driven bullishness in Asia
- Crude oil caught between demand woes and production disruption
- Tightness drives European PVC market up, prices near pre-pandemic levels
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures
- Weaker domestic demand prompts Vietnam to export polymers
- European PP market ceases upward trend in September
- Force majeure declarations rock the boat in Turkish PVC market
- China’s PE uptrend fueled by US force majeures; LDPE soars to more than 1-year high


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A local Kum and Go employee, who asked for anonymity for the sake of her job, said Kum and Go will no longer carry non-menthol or tobacco-flavored Juul pods when the inventory runs out. After the flavored pods run out, clients must legally purchase them via the Juul web site. But the nationwide deterrence of vaping has been in action for a year. According to Juul’s web site, final November it stopped the sale and distribution of its flavored pods to convenience shops across the country. This ban stopped the distribution of pods, however with so many shipped to retailers only now are they beginning to run out.
Rather, it says it has merely determined that now could be the time to selectively implement its power against some flavored pods — flavored pods like mint, but not menthol. Juul stated Thursday it will stop accepting retail and online orders for mint pods within the U.S. after absorbing the latest results of a number of research, including the 2019 National Youth Tobacco Survey. That research found “disturbing rates of e-cigarette use among both middle and high school students in 2019” and found that a majority of such customers consumed Juul merchandise. There’s little concrete knowledge on the safety of components in e-cigarettes. In the US, to legally promote vapes and e-juice, firms have to offer an ingredient record to the FDA—however they don’t have to make these lists public. As long because the components are typically regarded as secure by the FDA to be used in food, medicine, and cosmetics, the organization then authorizes these merchandise for sale.
In a statement, the corporate stated it will “proceed to develop scientific proof to support the use of these flavored merchandise,” which it says helps grownup people who smoke stop traditional cigarettes. The e-cigarette industry comes underneath threat from a Trump administration proposal to ban most flavored e-cigarette cartridges amid growing well being issues and a warning issued by the CDC in opposition to utilizing the merchandise. Each pack comes with 4 Eonsmoke prefilled tobacco taste nicotine salt pods. Each pod contains 60mg (6%) / 40mg (four%) nicotine per 1mL, and equivalent to 1 cigarette pack. Enjoy as much as 300 puffs per cartridge with your Eonsmoke or Juul pod vaporizer.
There are many adults who, like me, bummed a lot of cigarettes once they have been younger and confused or ingesting however, after they got older, both mostly or fully stopped. Adding to Juul’s woes, the e-cigarette industry has been beneath intense scrutiny since a mysterious vaping-associated illness, now often known as EVALI, unfold across the US, sickening nearly 1,500 individuals and killing 33.
- JUUL is available in a wide range of flavors, similar to Vape Pens fruit medley, mango, cool cucumber and creme brulee.
- Flavors in tobacco merchandise, together with e-cigarettes, have been proven to appeal to younger individuals.
- But the agency is beneath intense strain to crack down on vapes.
- At the identical time, it stays at the mercy of the Food and Drug Administration, which has regulated tobacco merchandise since 2009.
- The firm’s valuation rose to sixteen billion dollars over the summer time; it now controls nearly three-quarters of the e-cigarette market within the U.S.
You’ll get a pack’s price of puffs from each pod, which is two hundred puffs. Customers may order as much as fifteen packs of pods each month. Only two different states — Massachusetts and New Jersey — have accredited related state rules on flavored tobacco or vaping merchandise.
The invoice has garnered help from groups together with the NAACP and the state’s Legislative Black Caucus. At a news convention final week, advocates argued that flavored tobacco merchandise disproportionately have an effect on minority and decrease-earnings youth. In contrast, the proposed Maryland bill would include all tobacco merchandise and ban any with flavoring, even menthol cigarettes. Under the law, vendors could obtain up to a $1,000 nice and/or 30 days in jail. Notably, the FDA claims this ban isn’t actually a new ban.
JUUL, for example, makes use of a nicotine salt formulation—that is, nicotine extracted from natural tobacco leaves. It packs almost the identical punch of nicotine as smoking, however it goes down a lot smoother. That is, it doesn’t trigger the identical throat or chest irritation that occurs with flamable cigarettes, allowing folks to inhale extra deeply or more incessantly, potentially exposing them to much more nicotine. Not all vaping producers report how much nicotine is in their products, but even when they do, analyses present what’s inside the vape juice doesn’t always match what is said on the packaging. One examine, for instance, detected measurable amounts of nicotine in some vaping merchandise despite labels claiming the product to be nicotine-free. The tasty flavors usually added to vaping merchandise have been an enormous a part of their attraction, especially for young individuals.
Kid-pleasant flavors like cotton candy or fruit punch have been notably popular amongst teenagers, who cited flavorings as the most typical ingredient in the vaping merchandise they use. Diacetyl is a chemical sometimes added to vaping products to create rich flavors like butterscotch or caramel. Food manufacturers use this flavoring chemical in a variety of capacities—maybe most famously in microwave popcorn; diacetyl smells and tastes like butter. While vaping has been touted by some to be a less harmful alternative to smoking, the vapor created by digital cigarette devices is way from harmless. JUULpods and other e-cigarette merchandise include ingredients that result in an aerosol that may contain doubtlessly dangerous substances like nicotine, metals, and toxins. Many youth e-cigarette customers incorrectly believe they aren’t consuming nicotine after they vape. While less toxic than flamable cigarettes, e-cigarettes could make youth extra probably to use cigarettes and nonetheless include toxins and the addictive chemical nicotine, which is harmful to adolescent mind improvement.
It doesn’t actually approve any tobacco product, vapes included, in acknowledgement that they are all inherently dangerous. The harmful substances found in some e-cigarette aerosols won’t simply have an effect on those who vape. As of December 20, 2019, 21 years old is the new legal age minimum for purchasing cigarettes, cigars, e-cigarettes, or some other tobacco products in the United States.
Juul will proceed to promote the flavored pods on its own web site, though customers might be asked to confirm that they are over 21. Juul also said it would convey these merchandise again to stores that put money into age-verification know-how. You may order Juul pods online and each pack will include 4 pods. Each pod will characteristic .7 milliliters of e-juice, with 5 % nicotine by weight.


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Donald Trump has issues with Ford’s recent decision to relocate small-car production to Mexico, and he again focused on the automaker’s decision during this week’s debate.
But he’s been attacking Ford since last year. The Republican candidate for president took a shot at Ford before he secured the nomination, insisting that he compelled the company to bring jobs back to the US from Mexico.
At the time, Ford CEO Mark Fields said on a conference call with bank analysts that “we deal with the facts — facts are stubborn things.” He added that “[f]acts don’t cease to exist because they’re ignored.”
In response to Trump’s latest accusation, Fields reiterated his declaration that moving small-car manufacturing to Mexico would result in no job losses in the US, according to Bloomberg.
This is one of those cases where Trump isn’t paying very close attention to what’s going on either with the US auto industry in general or what Ford is doing to capitalise on current sales trends, which decisively favour SUVs over passenger cars.
Earlier this year, Ford announced that it would be rolling out four new SUVs. Production of those vehicles will likely take the place of the small cars that are shifting to Mexico. This is actually good for Ford’s US workers because as low-profit small car sales slip in the US, it becomes more difficult for the automaker to justify the labour needed to build them. Better to repurpose that production capacity to assemble higher-margin SUVs — especially new designs that are planned to serve booming segments, such as compact crossovers.
Ford also doesn’t build that many small cars in the US. The production that’s headed for Mexico will involve only the Focus and the C-Max, two nice vehicles, but not ones that are helping Ford sales as much as big pickups and larger SUVs.
Beyond Ford’s specific plans for its own portfolio, there’s growing belief in the auto industry that a permanent shift away from passenger cars is underway. Fiat Chrysler Automobiles CEO Sergio Marchionne is leading the charge in this front, repeatedly declaring that cars are over and that FCA will now concentrate mainly on trucks and SUVs.
Duncan Aldred, the General Motors executive who oversees the car maker’s Buick and GMC brands, told Business Insider that he appreciates Marchionne’s take, although he didn’t suggest that GM should similarly abandon passenger car production.
The last thing Ford wants to do is lose the ability to serve demand in its key market, the US. That what’s driving the small-car move to Mexico, where over the last decade significant auto-manufacturing capabilities have emerged. Popular and profitable SUVs and crossovers can be built by US workers, while at the same time Ford can retain small cars in its lineup — as a hedge against an economic downturn or rising fuel prices — and bolt them together with a much better margin south of the border.
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Mobile phones have become a part of us in recent years, being glued to our hands most of the time. Indeed, when it comes to e-commerce, data from Internet Retailer shows that 66% of it takes place on smartphones. Furthermore, Quicksprout discovered that 51% of mobile users looking to do a mobile purchase are more likely to actually buy something if the website is optimized for mobile use.
With that in mind, British online marketplace OnBuy decided to analyse a list of 60 major highstreet brands to see what percentage of them have their websites optimised for mobile usage and how many are missing out on potential sales due to a lack of mobile optimisation.
A study has shown that the average attention spam for humans has decreased from 12 seconds to only 8 in the recent years, and with that in mind OnBuy.com has looked at the percentage of the companies who take more than 8 seconds when it comes to the First Contentful Paint (FCP). The FCP measures the time from navigation to the time when the browser renders the first bit of content on the page. Therefore, companies who take longer than 8 seconds to load the FCP are more likely to lose the interest of their customers.
Simultaneously, the tool used by OnBuy.com to gather the data (PageSpeed Insights) shows a performance score that can go from 1 (bad score) to 100 (good score). OnBuy.com looked at each website to see how many of them rank under 10 for the performance score when it comes to mobile site optimisation.
The English marketplace also took into account a survey of 250 respondents, answering questions on how they felt about their mobile e-commerce experiences.
The results gathered by OnBuy.com show that out of the 60 companies analysed, 13% take more than 8 seconds for the FCP to load, which means they are not properly optimised for mobile e-commerce.
According to web.dev, the FCP metric should be between 0-2 seconds ideally. OnBuy.com has noticed that a whopping 85% of companies do not have the ideal loading time.
Some of the companies with the FCP metric under 2 seconds are Gap (1.6s), Dominos (1.6s), Sainsbury’s (1.6s), Huawei (1.6s) and Deichmann (1.7s).
When it comes to the ones with the slowest FCP metric these are: Oysho (19.7s), Stradivarius (13.8s), Massimo Dutti (8.9s), Bershka (8.7s) and Lush (8.7s).
Simultaneously, OnBuy.com also had a look at their Time to Interact (TTI) which measures how long it takes a page to become fully interactive. Ideally this should be between 0 and 5.2 seconds. Shockingly only 3% of the companies have a TTI under 5.2 seconds, while 97% of them go over the ideal time. In fact, 37% of them have a TTI of over 20 seconds.
When it comes to the overall performance score, 20% of the companies analysed by OnBuy.com have a score under 10.
Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.


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Maplewood CVS Set to Open Sunday
A sign at the door confirms what the manager said previously.
The CVS pharmacy, at the corner of Manchester Road and South Big Bend is on schedule for its Sunday opening.
A store employee confirmed, "Sunday is the big day!"
According to the sign at the door, the store will open at 7 a.m. on Sunday, as on every day.
Also in Patch:


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Passed in 2016, the new General Data Protection Regulation (GDPR) is the most significant legislative change in European data protection laws since the EU Data Protection Directive (Directive 95/46/EC), introduced in 1995. Effective May 25, 2018, the GDPR seeks to strengthen the security and protection of personal data in the EU and serve as a single piece of legislation for all of the EU. It will replace the EU Data Protection Directive and all the local laws relating to it.
This new regulation broadly affects all organizations, government agencies, and companies throughout the world that collect or use personal data tied to EU residents. It affects European and non-European businesses using online advertising and measurement solutions when their sites and apps are accessed by users in the European Economic Area (EEA). Not only is the GDPR an important step in protecting the fundamental right of privacy for European citizens, it also raises the bar for data protection, security and compliance in the industry.
We support and comply with the GDPR.


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Because we think that they are going to make a difference in the new consumer economy:
From a Goldman Sachs report:
The Millennial generation is the largest in US history and as they reach their prime working and spending years, their impact on the economy is going to be huge.
Millennials have come of age during a time of technological change, globalization and economic disruption. That’s given them a different set of behaviors and experiences than their parents.
They have been slower to marry and move out on their own, and have shown different attitudes to ownership that have helped spawn what’s being called a “sharing economy.”
They’re also the first generation of digital natives, and their affinity for technology helps shape how they shop. They are used to instant access to price comparisons, product information and peer reviews.
Finally, they are dedicated to wellness, devoting time and money to exercising and eating right. Their active lifestyle influences trends in everything from food and drink to fashion.
These are just some of the trends that will shape the new Millennial economy.
Born between 1980 and 2000:
Our view is/has been that there is/will be a considerable impact on consumer behaviour and ultimately on how much the consumer contributes to the US economy as this cohort evolves.
Witnesses to the 2008 housing crash and financial crisis at an impressionable age, caution appears to be a classic trait.
As well, larger amounts of student debt incurred and lower employment income will continue to hold back their ability to spend.
Millennial's priorities will be be different.
The Goldman Sachs research confirms this.
Scott Tomenson,CIM Managing Partner, Chief Investment Strategist


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Wall Street analysts predict that The Estée Lauder Companies Inc. (NYSE:EL – Get Rating) will post sales of $3.48 billion for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Estée Lauder Companies’ earnings. The highest sales estimate is $3.63 billion and the lowest is $3.26 billion. Estée Lauder Companies posted sales of $3.94 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 11.7%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Estée Lauder Companies will report full year sales of $17.66 billion for the current financial year, with estimates ranging from $17.44 billion to $17.81 billion. For the next fiscal year, analysts forecast that the company will post sales of $19.11 billion, with estimates ranging from $18.44 billion to $19.87 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Estée Lauder Companies.
Estée Lauder Companies (NYSE:EL – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.32 billion. Estée Lauder Companies had a net margin of 18.53% and a return on equity of 45.06%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.62 earnings per share.
NYSE EL traded up $0.05 during trading on Friday, hitting $232.11. The stock had a trading volume of 1,349,678 shares, compared to its average volume of 1,684,808. The company has a market capitalization of $82.94 billion, a PE ratio of 25.39, a P/E/G ratio of 3.05 and a beta of 1.04. The company’s 50-day moving average price is $259.89 and its two-hundred day moving average price is $302.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.75. Estée Lauder Companies has a 12 month low of $225.39 and a 12 month high of $374.20.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Friday, May 27th. Estée Lauder Companies’s dividend payout ratio (DPR) is currently 26.26%.
In other news, Director Charlene Barshefsky sold 1,158 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $238.34, for a total transaction of $275,997.72. Following the sale, the director now directly owns 46,828 shares of the company’s stock, valued at approximately $11,160,985.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.95% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in Estée Lauder Companies during the fourth quarter worth about $858,734,000. BlackRock Inc. lifted its position in Estée Lauder Companies by 13.1% in the fourth quarter. BlackRock Inc. now owns 16,953,258 shares of the company’s stock valued at $6,276,099,000 after purchasing an additional 1,969,898 shares during the last quarter. Morgan Stanley raised its holdings in shares of Estée Lauder Companies by 100.7% during the second quarter. Morgan Stanley now owns 3,778,605 shares of the company’s stock valued at $1,201,900,000 after acquiring an additional 1,895,658 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Estée Lauder Companies by 238.8% during the fourth quarter. 1832 Asset Management L.P. now owns 1,200,727 shares of the company’s stock valued at $445,780,000 after acquiring an additional 846,290 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in Estée Lauder Companies by 26.5% in the fourth quarter. Brown Advisory Inc. now owns 3,241,559 shares of the company’s stock worth $1,200,024,000 after purchasing an additional 678,097 shares during the period. 58.85% of the stock is currently owned by institutional investors.
Estée Lauder Companies Company Profile (Get Rating)
The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. The company offers a range of skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, cleansing devices, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.
- Get a free copy of the StockNews.com research report on Estée Lauder Companies (EL)
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Borat Subsequent Moviefilm Photograph:( Twitter )
It’s going to be a big day for Borat fans on May 25
It’s going to be a big day for Borat fans and Amazon Prime will debut a multi-part Borat special on May 25. Titled ‘Borat Supplemental Reportings Retrieved from Floor of Stable Containing Editing Machine’, it will be of three different parts.
The first — Borat: VHS Cassette of Material Deemed “Sub-acceptable” by Kazakhstan Ministry of Censorship and Circumcision — features never-before-seen footage from Borat‘s Oscar-nominated sequel, ‘Borat Subsequent Moviefilm’.
The second piece, Borat’s American Lockdown, is described as a “40-minute reality show,” centered on the portion of the sequel in which Kazakh journalist Borat Sagdiyev (Sacha Baron Cohen) finds himself in lockdown with a pair of conspiracy theorists.
Third is Debunking Borat, a series of six documentary shorts in which Borat’s new roommates have their theories debunked by some of the world’s leading experts.


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The desire to make agriculture/agribusiness attractive to the Ghanaian youth has been given a major boost by Ghana Export-Import Bank(GEXIM) under the Youth In Greenhouse Enterprise Project (YuGEP). YuGEP seeks to boost the production of high quality vegetables and create 400 direct and over 600 indirect jobs thus reducing importation of vegetables, reducing unemployment and contributing to stabilizing inflation.
YuGEP, a two-year project (2019 – 2020), is an initiative of the Ghana Exim Bank being implemented by Agri-Impact Consult (AIC) that involves the construction of 100 greenhouses in six regions including Ashanti, Greater Accra, Volta, Central, Western and Eastern due to vegetation and ecological considerations. The project is providing technical and financial assistance to 100 tertiary graduate entrepreneurs to own and manage their own greenhouses with an approved investment fund of GHC 20 million. Each beneficiary will be provided with one turnkey greenhouse structure covering a total of 640sqm; a packing shed for cleaning, sorting, grading and packing; growing medium and certified seeds; irrigation facility and small farm tool or equipment. Beneficiaries are expected to payback a fraction of the credit facility at 8% per annum over a 3 year period.
The investments being made is expected to stimulate growth along the vegetable value chain thus promote medium scale agro-processing and position Ghana to serve other West African Markets with high quality vegetables.
The project so far has trained and graduated seventy-two people , constituting the first and second batch of beneficiaries with various skills in greenhouse vegetable production, organisational behaviour and business management from the Agri-Impact Entrepreneurship and Technology Institute, the first institute to benefit from EXIM Bank’s YUGEP project.
The Chief Executive Officer of the Ghana EXIM Bank, Mr Lawrence Agyinsam called on stakeholders and private firms within the ago-business industry to involve the youth in building Ghana’s capacity for the export market. Such a move, would complement government’s efforts towards accelerating job creation for the growing youthful population and import substitution.
Mr Agyinsam was speaking at the graduation ceremony of the Ghana EXIM Bank’s Youth in Green House Enterprise Project (YUGEP), an initiative to promote investment in greenhouse vegetable production in Ghana held at Berekusu a suburb in the eastern region .”It will be interesting for the private sector to come in and engage the youthful population aside what government is doing so that we can become an export offensive rather than import dependent,” he stated
He also indicated the project is expected to rake in a revenue of GHC 10 million each year and GHC 40 million in five years through the expected production of 6,000 tons of vegetables.
The executive director of Agri-impact consult in his address indicated that prioritizing infrastructure to enhance the country’s processing capacity of raw materials to the sustenance of the economy. He further explain that the impact of lack of processing facilities is significant with bumper harvest as farmers are compelled sell their produce at relatively lower prices.
Mr.Dan Acquaye also believes the shorter life span of most vegetables to some cultivation practises such as the non-usage of wholesome irrigation methods affects the quality of the produce , he therefore called for the adaptation of the greenhouse production technology to improve yields by ensuring hygienic farm practices.
He promised the beneficiaries a maximum support from his outfit to the success of the project. I am very sure of making impact with this project,he said.
Construction of the greenhouse structures have started in Ashanti region , central and Greater Accra respectively. It is expected to be completed within the stipulated time frame for the commencement of production.
The fight against the persistent importation of vegetable and food insecurity is a need one of the undoubtable ways grow the economy of our dear country.


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Tech's biggest trade show, the Consumer Electronics Show, is just a month away (January 6 to 9, 2011 in Las Vegas). It's the industry event that lays out what new technologies will be the buzz of the year—or does it?
For example, last year 3-D technology for the home was big. Eleven months later, I don't know anyone watching Avatar in 3-D at home.
For what its worth, these are my predictions of what you can likely expect a month from now:
1. Tablets. Lots and lots of tablets. Android, Research in Motion (Blackberry), Windows 7, and maybe Chrome OS tablets. Tablets will be the big story of the show, specifically the emerging bare-knuckled battle of the operating systems. What platform will prevail? Apple should finally be getting some real competition for the iPad. The question is can the others catch up fast enough. With a new iPad 2 expected out by the end of February, it looks dicey.
2. Google TV. Or rather Google's big push for Google TV. Sony, Samsung, Vizio and Toshiba are just a few of the major television manufacturers promising to show Google TV enabled sets at CES. Standby for speculative stories on whether 2011 will go down in history as the year broadcast and cable television were finally dealt the death blow we've been expecting for sometime. If so, don't expect a quick death. There will be blood.
3. Accessorize, accessorize, accessorize. Forget the new marquis technologies. As always, some of the best of CES will be the wide array of gadgets designed to enhance what we already have. Look for new and better audio equipment (speaker systems, ear buds, etc.), 3-D gear like glasses that work for all 3-D formats, and even an iPod docking station by Pico to project your favorite videos in HDTV on the nearest white wall of your convenience.
4. Green gadgets. The question for some new products won't be what it does. Rather, how it does it what it's supposed to using a smaller carbon footprint. Green technology is only getting bigger. Expect it to be gi-normous in 2011.
5. Faster, lighter, stronger. Whether it's a new line of laptops from Toshiba or a digital camera from Kodak that can withstand a three-meter drop in the drink (and even Polaroid); the watch words will be faster, rugged, and lighter (but not necassirally smaller). Yeah, yeah, this is always popular fodder for bragging rights. But now more than ever, it's important. It's all about computing on the mobile web. That means devices need to be as portable and as hearty as possible for use in multiple environments while on the go.
6. Devices for location-based services. Here's just one example: GPS-embedded ski goggles that not only feature a beacon for the saint bernard with the brandy barrel to find you, but also will calculate your downhill speeds, distance traveled, and even the temperature.
Oh yeah, also watch for more e-readers (color will the be the word of the week on this one).


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Ocean freight charges have reflected difficulties with lack of limited container space, port congestion, truck shortages and increased freight rates. The blockage of the Suez Canal led to a financial hit to the US Dollar as well as taking a hit to international trade.
But there is hope in 2022. Per Shiphub.co, is estimated that a drop in ocean freight rates in the second half of 2022. While the rates will drop, it is anticipated that they will not go as low as they once were in 2019.
COVID19 impacted a lot of things including the shutdown of many factories, a slowdown in manufacturing causing halts or extending out production of products and materials. Demand, however continued to surge. This caused pressure on shipping agents, while they too had COVID19 precautions to adhere to causing further complications.
The graphic below shows the trends for 2019 through 2021 relative to ocean freight rates and how they began to climb in 2020 and how they have continued to rise in 2021.
Ocean freight rates in 2019 and 2020, China-Europe (in USD, 40′ HC)
Shipping rate estimates in 2021, China-Europe (in USD, 40′ HC)2022 Forecast in Transportation & Logistics
Space availability on Ships
Transport capacity decreased by over 3.1 Mil TEU (12.5% of sea transport) in 2021 due to delays caused by container space issues.
It is anticipated there will be more shipping spots and containers for hire in 2022, making it easier to secure a place for a container, therefore increasing export of container shipments by 2-3% in 2022.
Availability of Ships
The chart below shows the anticipated growth in container ships through 2023.
It is forecasted that the ocean freighters will increase and expansion into new shipping markets such as Taiwan and Thailand, will bring new containers (anticipated 46 new containers) to market. At least 22 large container ships (COSCO Shipping, CMA, OOCL, and MSC) plan to debut in 2022. Wan Hi Lines, a Thai carrier, intends to expand its Trans-Pacific transport as well. Thailand also wants to launch new container lines by 2025, claiming it will order several containerships.
Port capacity has been an issue, especially in the Suez Canal. There have been issues to where up to 100 vessels waited for their turn to the port. Limited staffing has been part of the issue, along with the port having not been adapted to accommodate ultra-large containerships.
The chart below shows comparisons of ships that were dwelling over five days’ time to get through port.
COVID19 brought on challenges with staffing, but there are also many vacancies in the supply chain including warehouse managers, warehouse operatives, and truck drivers, and movement restrictions all attributing to delays in port availability.
Rising Fuel Costs
The rise in price of crude oil and natural gas has been a major contributor to the entire supply chain. In a single year, marine fuel (average bunker) increased by 74%.
While natural gas prices are forecasted by Energy Information Administration (EIA ) and (International Monetary Fund) IMF to lower in 2022 and 2023, crude oil production in the US will likely rise which could see a decline in overall crude oil prices, per EIA. See charts below for their forecasts.
Global oil consumption outpaced oil production from 2H2019 through all of 2021. This led to low inventory and big increases in crude oil. Investment restraint from US oil producers, supply disruptions and curtailments by OPEC+ members restrained the production of crude oil. However, the EIA forecasts that rising production will build inventories in the second half of 2022 and through 2023, thereby bringing down prices of crude oil. The price of Brent crude oil averaged around $71 per barrel (b) in 2021. The EIA forecasts that the current price is around $80/b and will drop to an average of $75/b in 2022 and even lower in 2023 to $68/b.While this is good news, it is recommended to collect data and design transportation routes that offer the optimal savings.
Ocean Schedule Reliability
Ocean reliability reached its lowest in December 21, declining from 33.2% in November down to 32.0% in December. It dropped to the lowest ever recorded by Sea-intelligence since the start of measuring in 2011.
Ocean reliability improved in over half the trade lanes in December 2021 from November 2021. Asia-Africa improved +6.8%; Europe-Asia +6.5%, Middle East-Asia +5.7%. However overall performance was down in Middle-East-Europe -12.8%, Indian Subcontinent-Europe -12.4% and Europe-Middle East -10.8%, making overall reliability low.
Reliability on all major East-West lanes went well below the global average of 32% (Asia-NAWC 10%, Asia-NAEC 19%, Asia-North Europe 23%).
Congested ports due to lack of equipment, poor fluidity of container movement, lack of room for containers and ships all contribute to schedule unreliability. The lack of space in particular leaves container ships sitting idle, causing further delays in cargo and shipments.
The average delay is around 7.34 days causing late arrivals after scheduled berth time. This has caused many shippers to consider using Less than Container Load (LCL) carriers which typically are more readily available. However, LCL shipments face some of the same issues such as port congestion.
Port congestion needs to be a top priority, followed by schedule reliability. The Biden administration have outlined a number of steps to “accelerate investment in ports, waterways and freight networks,” along with a recently signed infrastructure deal which hopefully will begin to alleviate many of the port congestion issues so that shippers can focus on schedule reliability.
In summary, with the anticipated increase in personnel, decrease in crude oil and natural gas prices, the increase in number of available container ships, and with the COVID19 decreasing in infections, and the actions taken by the Biden administration to help alleviate port congestion, experts anticipate that freight rates will see a decrease in and around 2H2022. It is also anticipated that lead times may go down as schedule reliability improves.
5. https://www.supplychaindive.com/news/ocean-shipping-carrier-schedule- reliability/610810/.


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Stock cuts 86 locations
Stock Building Supply will close 86 facilities and reduce head count by some 3,000 associates, the Raleigh, N.C.-based division of Wolseley announced today.
Stock will exit 16 markets in six states, its parent company said. The company did not give specific locations.
The restructuring is a result of the declining housing market and followed Wolseley’s “fundamental review” of the business that was announced in September. Citing “unprecedented conditions in the global financial markets,” the U.K.-based corporation indicated that it was unable to find a buyer for Stock. Wolseley said it also considered closing down the entire U.S. building materials division.
The 86 branches represent 25 percent of Stock’s revenue and 28 percent of its head count, according to Wolseley. The closures will leave Stock with 209 locations in 27 states.
In a statement released this morning, Stock president Joe Appelmann said: “These are very painful decisions that affect loyal associates and their families. Without a doubt, we are facing unprecedented times in our industry. There is over capacity in an industry that was geared up to supply 2.3 million new housing starts two years ago; today the number is less than 1 million. The realities of the current market have changed the capacity of our industry and necessitated these actions.”
The specific facility closings will be announced later, along with the associated cost savings, according to the company.
Earlier this month, Wolseley reported annual revenues for Stock were $3.47 billion, down 24.5 percent from $4.59 billion in 2007. This reflects a 21 percent decline in same-store sales. Stock’s $246 million loss for fiscal 2008 compares to a profit of $86 million in fiscal 2007. This year’s loss includes $13 million in restructuring and severance costs. As of July 31, 2008, Stock had 285 branches, compared to 308 locations in 2007.
In an interview with Appelmann that appeared in the Feb. 11 issue of Home Channel News, the president maintained an optimistic view — “This is the ninth housing market downturn since World War II,” he told HCN. “There will be a tenth.”
Appelmann said the new size and footprint of the company is based on markets that will “bring us out of the downturn more quickly than others.”
“This is not just about cutting losses. If that were so, you wouldn’t see our commitment to markets such as Florida where our current losses are hurting us. Florida, for example, has great potential for rebounding, and we will be there to take advantage of the upswing.”
Chip Hornsby, Wolseley’s CEO, echoed these comments in an analyst conference call following today’s announcement. Stock will keep branches open in states like Florida and California regardless of the plunge in housing starts, he said, adding: “When the market does return, we will be well positioned [in these markets] to benefit as soon as possible.”
Sears Holdings to close 12 locations
U.S. retailer Sears Holdings is set to close 12 stores — eight Kmarts and four Sears outlets — in January, according to a report in Reuters.
The stores to be closed are Sears Grand in Columbia, S.C.; a Sears Essentials in St. Petersburg, Fla.; and two other Sears stores in Indianapolis and Florissant, Mo.; and Kmarts in Marietta, Ga.; Phoenix and Mesa, Ariz.; Forest Park, Ohio; Northridge, Calif.; Clarksville, Ind.; Sarasota, Fla.; and Knoxville, Tenn.
Sears Holdings operates more than 3,000 stores.
The closures are “part of our normal course of business of opening and closing stores,” spokeswoman Kimberly Freely said, adding, “It’s not part of a greater issue.”
Walmart establishes new rules for China
Walmart Stores laid down the law for suppliers it does business with in China at a first-of-its-kind meeting Wednesday focused on sustainability that involved more than 1,000 suppliers.
The company, third on the HCN Top 500 Scoreboard with 2007 home channel sales of some $25 billion, announced it would implement a new supplier agreement that requires factories to certify compliance with laws and regulations that will be phased in beginning with suppliers in China in January 2009 and then expanded to suppliers globally by 2011. The company also said by 2009 it will require all direct import suppliers and suppliers of private label and non-branded product to provide the name and location of every factory they use. In addition, Walmart will require the suppliers it buys from directly to source 95 percent of their production from factories that receive the highest ratings on environment and social practices by 2012.
From an energy reduction and resource utilization standpoint, Walmart is applying some of the objectives already established in the United States to its Chinese retail operations. For example, the company plans to design and open a new store prototype that uses 40 percent less energy and reduce energy use at existing stores by 30 percent by 2010. The company also plans to invest in hardware and systems and develop best practices that will enable it to reduce water use by half during the next two years.
The company’s goal is to become the most environmentally responsible retailer in China, a country where it has operated stores for nearly 15 years and now has more than 200 stores. Walmart and its suppliers collectively are the largest exporters of goods manufactured in China, which means the company is uniquely positioned to act as a change agent in a country where lax environmental controls, limited regulations and low wages have long been regarded as key reasons why China rose to become a global manufacturing powerhouse.
“I firmly believe that a company that cheats on overtime and on the age of its labor, that dumps its scraps and chemical in our rivers, that does not pay its taxes or honor its contracts, will ultimately cheat on the quality of its products,” said Walmart president and CEO Lee Scott. “And cheating on the quality of products is the same as cheating on customers. We will not tolerate that at Walmart.”
In prepared remarks, Scott went on to add that Walmart expects suppliers to meet strict social and environmental standards, be open to rigorous audits and to publicly disclosed all appropriate information.
“If a factory does not meet these requirements, they will be expected to put forth a plan to fix any problems. If they still do not improve, they will be banned from making products for Walmart,” Scott said.


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Another small detail on Apple's October iPhone
5 event has leaked via
John Paczkowski at All Things D.
According to his sources CEO Tim Cook
the iPhone 5 at an event held on Apple's campus, not at one
of the larger, outside venues Apple has used in the past.
No reason was given for why Apple is keeping it in house.
Tim Cook will have a home field advantage for his first major product reveal.
Robots are invading big box stores and want to help you shop
More "Future Now" »
GE: Trains will become 'self-aware' within 10 years and run on a network that lights up like a brain
More "Digital Industry Insider" »
Available on iOS or Android


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NYC – JPMorgan Chase mentioned yesterday which it’s using actions to defend its visitors from expenditure and also other charges that cash advance providers might smack over it.
NEW YORK пїЅ JPMorgan Chase specified earlier this week so it’s using behavior to safeguard their business from fees along with other overhead that cash advance providers might smack upon it.
The bank said it is going to limit the costs that consumers are billed if they overdraft their unique records in an effort to produce payments to cash advance services.
As well as will пїЅenhance connections and require more trainingпїЅ for workers, which makes it easier for consumers in order to avoid money. (more…)


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Gucci Mane is back with the release of the new music video for his Mike Will Made It produced single First Day Out The Feds this afternoon 7/5/2016. Watch the music video for the song which is on Gucci Mane’s upcoming Everybody Lookin album due in stores this month.
Gucci Mane – First Day Out The Feds (Official Video)
Aug 21, 2017
Aug 20, 2017


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The Bitcoin Boom in India: Bollywood and Beyond
4th August, 2017
Bollywood is seeing a Bitcoin boom. Celebrities like Shilpa Shetty, Raj Kundra, R. Madhavan, Huma Qureshi Neha Dhupia, Vir Das, Nargis Fakhri, and Prachi Desai have all been expressing enthusiasm for it. They are fascinated with the cryptocurrency concept, and positive about Bitcoin’s growth potential, judging by the hubbub on social media. In particular, “bitcoin guru” Amit Bhardwaj’s new book, Cryptocurrency for Beginners, has fueled excitement.
“Looks like they all want to grab the opportunity to learn and trade in Bitcoins,” Bollywood News observed of the celebrity trend.
Everyday people – getting in on the Bitcoin boom
Of course, India has been in the midst of a Bitcoin boom overall. The increase in usage was greatly accelerated by the government’s demonetization efforts. As Bollywood News noted, “According to MSN, there are approximately one million Bitcoin users or enthusiasts in India alone, from all walks of life. People have discovered a new piece of technology that can help anyone do business and transact better.” True. Bitcoin is particularly beneficial to India’s many small business owners, since it offers a way to lower costs and mitigate risk.
The Indian government has formed an interdisciplinary committee to work out how to regulate Bitcoin, with the aim of fully legalizing it in the short term. The fact that the government is taking Bitcoin seriously is quite significant. According to Cointelegraph, “The legalization of Bitcoin in India is expected to further increase trading volumes and Bitcoin activities in India by significant margins.”
Just today, Indian Finance Minister Arun Jaitley remarked on the “notable growth” in the bitcoin market in India over the past few years.
With over 1.2 billion people, India has the second-largest population in the world after China – where Bitcoin is already huge. Both countries are fertile ground for the widening use of Bitcoin. The sheer gravitational pull of their combined total of about 2.5 billion people ought to move the needle.


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Apple receives Helen Keller Achievement Award for its VoiceOver accessibility tool
This evening at an event held by the American Foundation for the Blind (AFB), Apple received the Helen Keller Achievement Award for its breakthroughs in making technology accessible. Specifically, the AFB picked Apple for its efforts with VoiceOver, which reads out descriptions of what is happening on a device's display to users.
At the event in New York this evening, AFB's vice president, Paul Schroeder, called Apple game-changing and transformative, noting that VoiceOver has changed the world:
"VoiceOver came out...and the world changed." --VP Paul Schroeder on #Apple and #accessibility #HKAA"VoiceOver came out...and the world changed." --VP Paul Schroeder on #Apple and #accessibility #HKAA— AFB (@AFB1921) June 19, 2015June 19, 2015
Ahead of the event today, Apple updated the App Store with a new section highlighting apps that support VoiceOver. Other honorees for the evening are star of the Daredevil series, Charlie Cox; musician, Ward Marston; and Vanda Pharmaceuticals.
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Our news, reviews, opinions, and easy to follow guides can turn any iPhone owner into an Apple aficionado


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A few months back, several media houses and blog sites worldwide anticipated the grand launch of Amazon FBA in Australia. However, according to the experienced Amazon FBA consultant, the e-commerce giant will start its FBA operation by early 2018. Amazon has already started acquiring warehouses for that purposes.
The months of October, November, and December serve the best purpose for augmenting online sales and getting well prepared for peak season. All prudent e-commerce businessmen planned their holiday sales days prior to late December and early January weekend, including Christmas and New Year weekend. A firm generates maximum online sales and profit during this season.
Many sellers have associated themselves with this trending and leading platform in the recent past. The popular companies as eStore Factory outsource the services related to the Amazon marketing strategy.


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Microsoft on Friday apologized for how it conveyed final month’s preference to condense OneDrive storage allotments, and easy a 15GB of giveaway cloud storage space to stream users who asked for it. But it did not behind down from a integrity to discharge a total allowance.
“We are all honestly contemptible for a disappointment this preference has caused and for a approach it was communicated,” wrote Douglas Pearce, a organisation module manager for OneDrive, in a message that close down a large plea on Microsoft’s possess website for a replacement of a allotments.
Pearce was referring to an unsigned blog post of Nov. 2 that laid out changes to Microsoft’s consumer cloud storage service. In that post, Microsoft pronounced it would dump total storage for subscribers to a Office 365 Home and Office 365 Personal plans, environment a new extent during 1TB; condense a giveaway stipend from 15GB to 5GB, shortening it by 67%; dump dual paid plans; and supplement a new one that effectively lifted a cost of a lowest-cost choice by 100%.
Not surprisingly, OneDrive users and Office 365 business howled. They scoffed during Microsoft’s motive for a rejecting of total storage — a association cited a tiny series of record repository hogs — and demanded that a organisation revive a 15GB of giveaway space.
“I’ve been regulating OneDrive given a initial days and we feel betrayed,” pronounced Diego B on Nov. 3 in comments appended to Microsoft’s blog post of a day before.
Beyond a mea culpa, however, Microsoft will not hook on a pierce to strike OneDrive’s total allowance. “Office 365 Home, Personal, and University subscriptions will continue to embody 1TB of storage,” Pearce said.
He also summarized a limited-time offer that stream OneDrive users might request. “For a biggest fans who have been constant advocates for OneDrive, we are adding a new offer that lets we keep your existent 15GB of giveaway storage when a changes occur subsequent year,” Pearce said. “If we also have a 15GB camera hurl bonus, you’ll be means to keep that as well.”
Users contingency categorically ask to be grandfathered in by clicking “Keep your giveaway storage” on this website before a finish of Jan 2016.
Those who don’t hear of a offer will apparently be out of luck, as Pearce pronounced zero about reaching out to all OneDrive users around email.
Rather than claiming that a roll-backs were due to a few storage gluttons — as Microsoft did primarily — Pearce pronounced it was a “business decision” though giving details.
That preference might have been formed on Microsoft’s income calculations. Computerworld final month projected that a Redmond, Wash. association could acquire scarcely $107 million some-more any year by relocating usually 1% of a OneDrive users from a “free” mainstay of a bill to “paid.”
Pearce also apologized usually for a approach a OneDrive preference was promote to customers, not for a reductions themselves. “We comprehend a proclamation came opposite as blaming business for regulating a product. For this, we are truly contemptible and would like to apologize to a community,” he said. “[But] we are not changing a altogether plans.”
His summary was combined to UserVoice, Microsoft’s possess petition-like website that lets business advise changes to a company’s products. UserVoice has been an critical partial of Microsoft’s renewed importance on feedback and a focus to constantly-evolving software, nonetheless a association has shuttered a one dedicated to Windows 10 in preference of an in-OS feedback app.
With Pearce’s post, Microsoft sealed a defence to “Give us behind a storage.” In a 5 weeks, a thread amassed some-more than 4,100 messages — most of them derogative or worse — and a call-to-action had been “voted up” over 72,000 times. Both were outrageous numbers for a OneDrive UserVoice, and simply outpaced any other request.
Pearce also left unanswered a doubt of either blurb business subscribing to Office 365 will accept total storage space. Currently, a limit is 1TB — a same as a new top on consumer storage — though Microsoft has affianced in a past to strike that to total for OneDrive for Business.
“Moving forward, all Office 365 business will get total OneDrive storage during no additional cost,” a roadmap states. “In a meantime, get started regulating your 1TB of storage currently by subsidy adult all those work files kicking around on your PC – with a believe that even some-more storage is on a way!”
That guarantee remained on Microsoft’s Office 365 roadmap Saturday.
Previously, Microsoft had declined to answer questions about a destiny information top for OneDrive for Business.
OneDrive users who ask will be given a 15GB giveaway subsidy they now have; after clicking on a symbol on Microsoft’s website, they will see this message.


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The city skyline can change at a fast pace, but it is the office dynamics that are changing at unprecedented speeds. The challenge is to understand what this means for businesses of the future.
Construction across the country never seems to cease, with a 7.9 per cent year-on-year rise in new starts in non-residential construction in the first quarter of this year. But some businesses feel that soaring rental costs for commercial property, particularly in central London, still equate to a tax on growth.
There is little sign of prices dropping. As the RICS predicts, the rise in commercial rental costs in London is set to continue over the coming 12 months, with value increases expected to rise by another 10 per cent some time in the year to come.
Businesses are very conscious of the cost of space. In Workspace’s latest research, almost half of the 1,000 new and growing businesses surveyed by the shared workplace provider rated affordability of space as the biggest concern when choosing where to locate their business – before transport links and IT infrastructure. For a growing business, working capital is key and a growing office might mean a change of office, the cost of which could be seen as prohibitive.
And with the major inconvenience and disruption this brings comes a range of significant one-off costs in administration and logistics. The sacrifices to be made in the name of business growth look increasingly undesirable.
But a growing business does not have to sacrifice its growth ambitions to find the right space to operate, particularly at the rate at which working life is changing.
From the emergence of open-plan offices to the development of co-working spaces, cloud storage platforms such as Dropbox and in-house communications platforms such as Slack, there are enormous changes in the way we are working today.
The development of wireless broadband has no doubt greatly contributed to this workplace revolution.
But it has taken bold digital entrepreneurs and imaginative, innovative thinkers to build the platforms, online and offline, that allow businesses to fix their operational problems without moving office and house their business in whole new ways.
London has led the way in the development of a new way of working. Innovators such as Rohan Silva, who co-founded the elite Tech City co-working space ‘Second Home’ and his fellow entrepreneurs Tom Watson and Tushar Agarwal, who together established the workplace network ‘Hubble’, all call London home. Property adviser DTZ estimates that there are 816 such spaces in London, more than there are in any other urban setting in the world.
Similarly, at LOVESPACE, we have noticed a sharp increase in the number of small businesses using our pay-by-the-box storage services, as they seek a way to outsource their operations and use the office space they can access to grow their team, rather than for storing equipment or archive files.
With our latest data on how small businesses are using our storage services, we estimate that businesses in London alone could be wasting up to £850m on badly utilised or wasted space.
However, we are eager not to paint a bleak image. High rents are typical of every major urban business district, but that has not stifled growth nor has it put people off starting up, as the last five years saw a record rise in new small firms recorded by Companies House.
The good news for growing businesses or budding entrepreneurs is that high rent does not need to be a limiting factor for their growth ambitions. The UK’s new breed of property entrepreneurs is looking to solve the issue of expensive office space by managing the burgeoning ‘demand’ side of the commercial property equation.
Gone are the days of inefficient, low-tech offices. They are replaced with smaller, more efficient, high-tech spaces, allowing growing businesses to save on rent, freeing up their cashflow to concentrate on more important business activities.
Statistics show that smaller businesses account for 99 per cent of all businesses in the UK. Their growth is vital to the UK economy and we need to ensure they are not stifled by the cost of office space.
Steve Folwell is managing director of LOVESPACE