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Zynga shares have been rallying, gaining 10% on Monday.
The reason? Speculation from some analysts on a potential takeover by Yahoo.
The speculation stems from comments a Yahoo’s M&A head made last week about working on two “significant” acquisitions and about six smaller talent “acquihires,” comments reported by All Things D. That had analysts playing guessing games and throwing around the gaming company.
But our colleagues over at Digits have some cold water to splash on those Zynga shares.
UPDATE: Shares are now falling Tuesday, down 4.4% to $3.77.
From Matthew Lynley:
There are some good reasons to make this kind of speculation: it’s a natural content fit with Yahoo, and the company would be a cheap purchase — if only to pick up mobile engineers, for which Yahoo has made a priority.
By Ian Sherr and David Benoit
How do you draw “disappointing”?
Zynga’s ambitious purchase of OMGPop, the maker of “Draw Something” is looking particularly ugly in the wake of the company’s disastrous quarterly report.
Shares are down 36% to $3.25 in after-hours following the disappointing earnings announcement, with one reason being “challenges” on Facebook’s platform.
But Zynga also said it is seeing reduced sales from “Draw Something,” the hit mobile game that many analysts believe Zynga bought at its peak in March. The $183 million deal, Zynga’s largest to date, came after “Draw Something” rocketed to the top of the most-downloaded lists at just six weeks old.
In its previous earnings release, Zynga hiked up its annual estimates due to expected benefits from “Draw Something’s” sales. Now, the reverse appears to be true.
By John Letzing
Zynga CEO Mark Pincus stopped short of praising his company’s recent $183 million purchase of OMGPOP, the maker of hit game “Draw Something.”
The game’s audience was growing rapidly at the time of the purchase, but its popularity has since waned.
“It’s too early for me to say that acquisition is successful,” Pincus said.
Zynga shareholders, led by CEO Mark Pincus, are looking to sell 43 million class A shares of the gaming company, three months after it went public.
Pincus is cashing in some 16.5 million class B shares, 18% of his count of that class, but just trimming his voting power to 35.9% of all shares from 36.5%. Class B shares carry seven votes for every one class A, but are converted to class A when sold.
If sold at Thursday’s close, Pincus’s proceeds from the sale would be some $228 million.
Along with Pincus, two firms that own 5% stakes are selling too. Institutional Venture Partners, the holder of the third-most shares by voting power, is selling 5.84 million shares and Union Square Ventures, the fourth biggest holder, is selling 5.23 million shares.
Also selling in the offering is SilverLake Partners and Google, both selling just under 4 million shares.
Zynga’s stock is, through Thursday’s close of $13.85, up 39% from its IPO price of $10 on December 15, but were down 1.9% to $13.50 premarket.
The holders are offering 43 million shares with the option for underwriters to go up to 49 million, which would increase the class A shares outstanding by over one third.
The secondary offering are an attempt by the company to stagger what could have been a large flood of shares when the initial lockup periods end for shareholders, a person familiar with the company said.
The original IPO had scheduled for all holders to be locked into shares until late May. The amended filing says non-executive employees holding 115 million shares will be able to sell at the end of April. Executive shareholders selling in this offering are locked up until July and August.
Also disclosed in the filing was that Zynga’s purchase of “Draw Something” creator OMGPOP earlier this week was for $180 million in cash. The company had not commented on the financials, though media reports had put it between $200 million and $250 million.
The six-week old “Draw Something” has shot to the top of the most popular games being downloaded, and Zynga swooped in with its most expensive purchase yet. The company’s filing already added “Draw Something” to its list of best portfolio games in the filing.
Zynga last night wasted no time in buying up one of the hottest mobile games out there, “Draw Something”, paying about $200 million to $250 million for the game’s creator OMGPOP.
So far, Wall Street is responding with enthusiasm.
The deal fits a pattern with Zynga, where the company goes out and scoops up games and developers, booking large amounts of goodwill on its balance sheet in the process.
According to Zynga’s IPO filings, the company looks for acquisitions to boost growth, which it considers an important part of its strategy. In 2010 and 2011, Zynga made 22 deals in total spending $105.1 million. For those deals, the company now has $91.8 million in goodwill on its books, meaning the vast majority of the prices Zynga is paying for these companies is for intangible assets.
Zynga’s biggest acquisition was 2010’s purchase of Newtoy Inc., the creator of “Words with Friends”, one of its most popular games. The company paid $53.3 million for Newtoy, including $44.3 million in cash and 1.4 million shares. Of the deal, $41.4 million was booked as goodwill.
Zynga hasn’t released any values on the OMGPOP deal–Dow Jones has reported the $200 million to $250 million figure citing sources familiar. But it is likely the purchase follows that same trend, particularly given Zynga is buying a 6-week old game and touting the creators and talent it is getting with OMGPOP.
Still, while analysts say it is too early to tell if this deal is expensive, they say OMGPOP and “Draw Something” are a good addition to Zynga’s stable. And so far the market has shares up 3.5% to $14.20.
Zynga is buying game-maker OMGPOP for between $200 to $250 million, Dow Jones Newswires is reporting, snatching up a six-week old hit game that fits a key Zynga need: It doesn’t run on Facebook.
OMGPOP has gone viral with its “Draw Something” game, which it says has been downloaded more than 35 million times since it was launched.
“Draw Something” is resembles an online version of Pictionary — one player draws a picture and another player tries to guess what it is. Zynga says it is the No. 1 word game in 84 countries.
Zynga confirmed Wednesday morning that its shareholders would be selling up to $400 million in common stock, just three months after the gaming company’s IPO.
In a filing with the SEC, the company said the shareholders, which it didn’t name, would take all the proceeds. Zynga says the offering is to “facilitate an orderly distribution and to increase the company’s float.”
The Wall Street Journal had reported late Tuesday the offering was expected, citing a person familiar with the matter.
The offering comes sooner than Zynga’s lockup period would have allowed, but the WSJ said the objective was to ease volatility in the stock.
Zynga’s IPO was priced at $10 a share, but fell below that level the first day and dropped to a low of $7.97 in early January before spiking back when Facebook unveiled IPO plans. The stock hit a high of $15.91 in intraday trading on March 2, but has given back some already. Shares closed at $13.38 Tuesday and were down slightly in premarket trading.
The chatter last year about Zynga’s IPO was how dependent the social games company was on Facebook. It turns out Facebook is pretty dependent on Zynga, too.
Mark another notch in the lapel of the Morgan Stanley tech-team today.
Zynga, the biggest U.S. internet IPO of 2011 and a big win for Morgan Stanley, has climbed back above its IPO price of $10. It’s trading at $10.13 today, up just under a percent. (a hat tip to Kevin Kingsbury.)
One criticism of Morgan Stanley in the fight to get the Facebook leading left had been that some IPOs the bank led last year didn’t do so hot, with Zynga being example A. The stock priced at $10 and jumped right out of the gate to $11.50, but quickly soured. It closed down on Day 1 and fell as low as $7.97 earlier this month.
If the Facebook deal was still slightly open, Morgan Stanley can, at least for right now, give itself a better performance grade today.
J.P. Morgan unveiled in a federal filing this afternoon it owns a 6.7% stake in social-gaming company Zynga Inc., a stake that would be worth just over $61 million according to Monday’s close.
J.P. Morgan a year ago kicked off a new social-media fund, planning to raise between $500 million and $750 million, but wound up raising around $1.2 billion. The fund was announced right after Goldman Sachs got its chance to invest in Facebook, a plan that caused quite the stir. It isn’t clear from the filing how J.P. Morgan owns the Zynga stake, or how much it paid for it.
The stake would make it the fifth-biggest holder in Zynga, behind private-equity giants Kleiner Perkins Caufield & Byers, and Morgan Stanley, which recently upped its stake.
Zynga went public last month at $10 a share, but promptly fell under the initial price. J.P. Morgan was listed as an underwriter on the deal.
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Dealpolitik is Ronald Barusch's strategic look at deals currently making the headlines as well as the major forces at work in the deal-making world. He was a M&A lawyer with Skadden, Arps, Slate, Meagher & Flom for over 30 years. He retired in 2010 after 25 years as a partner at the firm. Click here for his current and archived columns.
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ZITF 2019: Govt concerned with hotel rate hike
The government has expressed concern at the decision by Bulawayo hotels to increase their rates by as much as 350 percent to capitalise on the annual Zimbabwe International Trade Fair (ZITF) set for this month.
The 2019 trade fair showcase will run from April 23 to 27, 2019 and hotels in the city increased their prices from an average RTGS$300 to RTGS$1500 per day.
This year’s 60th ZITF edition will run under the theme: “Propagating Industrial Growth through Trade and Investment.”
Addressing journalists during a Press conference at the Zimbabwe International Exhibition Centre in Bulawayo yesterday, Minister of Industry and Commerce, Ngqobizitha Mangaliso Ndlovu, expressed concern at the exorbitant fees charged by hotels and lodges in the city.
“On price hikes what I would perhaps address now has to do with accommodation charges, which have in most cases more than trebled.
“We had a meeting with the executives of most of these hotels with the minister of tourism yesterday last afternoon also to just indicate our concern on the manner in which in our view is treating ZITF clients,” he said.
Minister Ndlovu lamented that the hospitality sector wanted to capitalise on the international pull of the showcase without assisting in marketing the global showcase.
“I highlighted to them that if only they took part in aggressive marketing of ZITF maybe then can we tolerate the kind of behaviour than to wait for ZITF to market – have people confirm that they are coming and then overcharge them because they have no choice,” he said.
“There are critical issues we discussed, the first one was the actual rates themselves to which I’m told are in the region of RTGS1500 for some per day.
“The second issue was the issue of blocking people to say you can only book for seven days as cannot book for a day or two. This kills the hospitality industry as the visitors might look at ZITF as a low hanging fruit but certainly, it doesn’t augur well for the survival and growth of this sector.”
To date, 47, 724 square metres have been taken up by a total of 435 exhibitors, representing 90.03 percent occupancy uptake of space made available for sale.
Last year, 45 632 square metres was taken up by 414 exhibitors.
Of these 12 percent are first-time exhibitors as for the geographical mix, 59 percent are local exhibitors, from Harare, 23 percent from Bulawayo, 13 percent from other towns and five percent are foreigners.
12 foreign exhibitors are Botswana, Ethiopia, Japan, Kenya, Malawi, Mozambique, Namibia, Nigeria, South Africa, United Arab Emirates, United States of America and Zambia.

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Google's burnt cookies: What now for FLoCS, fraud, cohorts, consent and universal IDs?
Google's 'privacy pivot' has major implications for marketers, agencies, publishers and data companies - as well as regulators attempting to curb its might. The upside is no more cookie bombing and a likely collapse in cookie-based fraud. But everything follows the money. Meanwhile, in a first party world, marketers can no longer pass the buck to agencies when it comes to data transparency, consent and control. Next year looks interesting.
What you need to know:
- Google's alternative to tracking is FLoCs - bigger cohorts, but some are unconvinced its ends are that different to current means.
- Some ad execs think alternative ID solutions can still find traction on the open web, others think they have been fatally undermined.
- Data providers will have to pivot, likely more will start transacting media with data.
- In first party world, brands held accountable by regulators for data and consent.
- Fraud will likely shift to first party data.
- ACCC's plans hampered.
- Facebook will have to move next.
You will be asked, and be answerable to, how you collected first party data on both the buy and the sell side.
Google last week reiterated its commitment to phase out third party cookies – but everybody knew that was coming.
What was new was its explicit rejection of other tracking approaches within Google properties, which sent shares in listed adtech firms tumbling (though they insist the sky is not falling in).
Either way, there are some major unknowns, such as whether Google’s decree applies across both buy and sell side, and some serious questions, such as how much time Google’s ‘privacy pivot’ buys with antitrust regulators, especially if it appears to further already unassailable market dominance.
For the next 18 months or so, it seems to be business as usual. After that, for digital marketers some of the biggest impacts will be felt around retargeting (Atomic 212’s James Dixon has compiled a summary here): a hurdle for marketers, but sweet relief for those who don’t want to buy their new pair of jeans again a week later.
No third party cookies also means no cookie bombing – and there are potentially broader wins for advertisers from getting rid of third party tracking.
Ad businesses built on third party cookies will pivot – most already are – if they can’t put their hashed IDs through buying platforms. That should throw up some interesting new models.
“Some of those [ad data firms] are looking at how they can become more of a managed service, how they can offer data and media at the same time,” said one senior ad holding company exec.
If that kind of bundling is allowed under Google’s new rules, he thinks it could mean that more retailers and loyalty card data providers start transacting media, creating a different kind of opportunity for brands.
“A lot of those kind of operators already do in-house buying for their businesses. Will they spin out a solution? Some already seem to be going in that direction.”
However, the exec said the local Google team is still awaiting clarification on exactly what is – and what is not allowed – from HQ.
Once again, Google will mark its own homework, and funnily enough, algorithms will be able to adjust those valuations.
What the FLoC?
Google’s current preferred alternative to third party cookies are ‘federated learning of cohorts’, or FLoCs. Per the ad giant, FLoCs “effectively take third-party cookies out of the advertising equation and instead hide individuals within large crowds of people with common interests.”
It’s claiming 95% performance versus third party cookie approaches (which is interesting in itself).
Some are unconvinced FLoCs are hugely different to Google’s current approach.
“It’s a bit of red herring,” said one ad senior exec. “Within DV360 (Google’s demand-side platform), Google does not disclose every single URL, so you never really know where every dollar went – it just went to a group of URLs. The same thing will happen when you are buying a cohort of individuals: you won’t know who they are, you won’t know if it really was 20,000 individuals, you’ll just have to take Google’s word for it.”
The exec said buyers should be concerned. “Once again, Google will mark its own homework, and funnily enough, algorithms will be able to adjust those valuations,” he suggested. “Google is free to readjust the value of those cohorts as Google sees fit.”
Others are sceptical that a cohort approach can ever be truly ‘privacy first’, given even large groups can be relatively easy to unpick, and given the data that Google has hoovered up for the last 20 years.
“I’ve asked privacy lawyers several times over the years ‘when does a sample become identifiable?’ There answer is always ‘it depends’,” said Dave Whittle, co-founder of customer data platform (CDP) firm Lexer, which last month raised $33.5m in series B funding. “It is a massive grey area and very difficult to be conclusive.”
Google plans to start testing FLoC with advertisers in Q2.
Google can power the right personalisation but they can [if minded to] also block the wrong, potentially fraudulent ad targeting too.
Whether FLoCs or something else ends up as Google’s de facto targeting system, getting rid of third party cookies should reduce ad fraud – at least the current most prevalent forms, according to Lexer’s Dave Whittle.
While the digital industry tends to play down ad fraud as a low single digit percentage in Australia, Whittle thinks it could be higher.
“I’m surprised ad fraud has never had the airtime that it probably deserves. But I'm also not surprised, because much of the media that controls the messaging is disincentivised to communicate the significance of ad fraud,” said Whittle. “It is not small. The materiality of it is huge.”
Post-cookies, Whittle thinks fraudsters will just shift mode.
“There will be a different type of fraud. It will be driven by stolen databases - and it’s probably already happening through stolen identities,” he said. “You can buy millions of email addresses on the dark web, or any PII for the ad targeting, and enable advertisers to target those audiences and generate fraudulent ad revenue.”
Platforms could largely stamp out fraud, per Whittle, if they wanted to.
“If the browser, operating system, or the website has a logged-in state – all of those parties actually know who the user is. It’s interesting to think about how Google, for example, has the opportunity to help personalise targeting, but they also could block the ‘wrong’ personalisation,” said Whittle.
“It’s a case of offensive and defensive. They can power the right personalisation but they can also block the wrong, potentially fraudulent ad targeting too. And likewise, in that example, you can switch Google out for Apple.”
When consent is controlled by the brand, the data is an asset for the organisation, just like brand value is calculated into goodwill. From an accounting perspective, data will go the same way.
Brands: prepare for regulation
People will question Google’s motives, but something had to give, according to Clay Gill, CEO at Matterkind, formerly IPG Mediabrands' Cadreon unit.
“When you’ve got that many data companies piggybacking off consumers – and the consumer never consented to that in the first place – that’s a problem. And it’s an unregulated problem,” he said.
Gill thinks brands and publishers must urgently get to grips with what is coming down the track – and first party consent is everything.
“Top line the demise of third party cookies is a good thing. Bottom line, look at consent management – the story will get to this eventually,” according to Gill.
“You will be asked, and be answerable to, how you collected first party data on both the buy and the sell side.”
Lexer’s Dave Whittle agrees. For brands, privacy-compliant first party data management “has never been a higher priority” as third party avenues close.
“If you're relying on the traditional use of third party cookies for ad targeting to drive your new customer acquisition, it’s a risk,” he said.
“So you could say the story is already [about consent]. Because when the brand is managing and collecting their own data, they control the consent.”
Whittle believes this will ultimately have major financial implications for brands – and not just around regulatory enforcement.
“When consent is controlled by the brand, the data is an asset for the organisation, just like brand value is calculated into goodwill,” said Whittle. “From an accounting perspective, data will go the same way, over time.”
Which is why brands and publishers should probably take this report from White Ops seriously: It finds 22% of marketers think their first party data is at least a quarter full of bots and fakes.
In a first party world where brands are held accountable by regulators, that means no more kicking the can down the road to agencies.
This is a direct shot across the bow of some emerging methods of identifying users across the web using email addresses for advertising purposes.
Impacts on alternative ad IDs
Google’s move has implications for regulators and other adtech firms attempting to build out alternative ad tracking technology.
MiQ CEO Jason Scott thinks it’s "unlikely" consent-based ID initiatives such as the Trade Desk's soon-to-be open source Unified ID 2.0, "will be completely abandoned just because Google has rejected them from their ad platforms – and it’s important to note they won’t be blocked from Chrome". He suggests it could spark "clear motivation for innovation opportunities for the industry outside the walled gardens".
But others are not so sure. Who knows what Google will decide to do with Chrome now that is is updating the browser on a fortnightly basis.
“In some ways, this is a direct shot across the bow of some emerging methods of identifying users across the web using email addresses for advertising purposes,” according to Phillip Eligio, a Germany-based consultant at the coalface of Europe’s evolving attempts to regulate platforms and overhaul privacy laws.
The former Guardian Australia exec and Aussie digital marketer thinks Google’s statements may indeed "dissuade tech companies from collaborating” on things like Unified ID 2.0.
Google’s announcement directly undermines the concept of data portability, particularly around user identifiers, as it directly paints such remedies as privacy infringing.
Impact on ACCC's plans
Locally, Eligio thinks Google’s proposed approach has major implications for Australia’s attempts to regulate platforms. It appears Google is playing off those responsible for antitrust and privacy concerns.
“Google’s announcement directly undermines the concept of data portability, particularly around user identifiers, as it directly paints such remedies as privacy infringing. Therefore, it suggests that those who regulate and enforce such conditions (government) are against user privacy, and those who may request the data from such a mechanism (ad tech providers) are acting to reduce user privacy,” argues Eligio.
“While it is debatable if Google's own advertising practices across their vast web of owned and operated sites and services upholds the ideals of user privacy, this is positioned to place their competitors in a negative light, should this proposal from the ACCC move forward.”
Eligio adds that Google’s move hamstrings the ACCC’s proposal for common user ID, “as Google is suggesting that any mechanism to identify a unique user across the web does not fundamentally provide the consumer with privacy protection”.
Eligio and others suggest a ‘privacy first’ approach could worsen Google’s mounting antitrust issues by increasing its market dominance, potential for self-preferencing and conflicts of interest.
He points out that Google’s announcement “does not commit Google to any form of data siloing across its owned services” and suggests regulators consider “meaningful purpose limitations” so that, for example, data collected by Google in one area, (such as email) cannot then be used to power others (such as advertising).
Guardian Australia MD, Dan Stinton, agrees.
“The only reason Google is able to make a change such as this without weakening its business is because it doesn’t really need cookies. Google can fall back on its own email addresses from Gmail and aggregate this with data from search, Youtube, Chrome, Android, maps, and many other services, which is much harder for the rest of the industry without Google's market power,” he said.
“The only way to mitigate this is with the use of purpose limitations, whereby strategies such as reading a person's Gmail for the purposes of selling targeted advertising in another environment is outlawed, as one example. This is the most pragmatic way to stop the data arms race that is currently underway between Google and Facebook, while further protecting consumer privacy.”
Whether Australia’s regulators alone can score a win against Google this time around with purpose limitations or any other measure is debatable. But lawmakers around the world are mounting serious antitrust challenges (this one is interesting).
However, antitrust cases tend not to be quick affairs – and Google may yet beat all those trying to open up its vast ‘privacy first’ walled garden.
Facebook’s data graph is highly reliant on identities via cookies, emails, and mobile ad IDs... this move puts so much pressure on Facebook.
What will Facebook do?
What might become clearer in the near term is how Facebook reacts, given the looming impact on its business.
“Facebook’s data graph is highly reliant on identities via cookies, emails, and mobile ad IDs,” per SynergyStack founder, Chris Brinkworth.
“As we already know what is happening with Apple’s Safari and ID for advertisers, this move puts so much pressure on Facebook," he added.
“So now, Google can find easier ways to compete in a world that involves Amazon without worrying so much about fighting both Amazon and Facebook for their main ad revenue.”
Meanwhile, the independent ad tech players have seen share prices tank.
Who says privacy doesn’t pay?
Here are some stats: Almost three quarters of Aussies engage with brand content every week – 90 per cent in the 18 to 24-year-old range. A massive 84 per cent of consumers took some form of action – buy, share, follow or save. Of those, the most common action at 34 per cent was purchasing the product. Those are the findings of News Corp Australia’s recent research into the power that brand marketing has, released at its Decoded event. Big money follows the good brand and content marketing, and those that crack this code can cash in.
The butterfly effect: Five ways digital out of home trumps static – and why smart marketers use DOOH for more than awareness building
If static out of home was the caterpillar, digital is the butterfly. It’s better in just about every way, QMS’ Chief Strategy Officer Christian Zavecz writes. Through five research-backed elements – impact, precision, cut-through, amplification and accountability – DOOH is flipping misconceptions about the channel on their head.
The marketing and advertising sector is alienating a quarter of Aussies by primarily showing traditional – mum, dad and two children – families, new research shared by Nine shows. One in four people feel their family is poorly represented, and even though single parents make up 10 per cent of our population, only 12 per cent of the public recognise one adult and a child as a family. What brands should focus on is honesty, realism and rawness, Nine’s Toby Boon says.


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JiWire Inc. said Friday it raised $20 million in a third round of funding.
The round was led by Palo Alto-based Trident Capital. Also participating were Comcast Interactive Capital, Menlo Park-based Draper Fisher Jurvetson and Panorama Capital, and Palo Alto-based Norwest Venture Partners.
With the current funding, San Francisco-based JiWire said it has raised a total of $45 million. The company said it connects advertisers to an on-the-go audience using "the world's largest location-based interactive media channel."
As part of its investment, Trident Capital's John Moragne will join the JiWire board.


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Apple today released iPhone OS 3.0.1, addressing an SMS security vulnerability The release of iPhone ... Apple iPhone News forum
Apple Releases iPhone OS 3.0.1 to Address SMS Security Vulnerability
Apple today released iPhone OS 3.0.1, addressing an SMS security vulnerability The release of iPhone OS 3.0.1 has been expected since a spokesperson for UK iPhone carrier O2 claimed earlier today that a fix for the issue would be coming from Apple on Saturday.
Apple has also posted a security document describing the issue.
Last edited by srl7741; 07-31-2009 at 03:09 PM.
Excellent. I'll have to do a software update tonight and install...not unless it's already on the device since I just bought it.
For those who were wondering if this update would undo their Jailbreak, the folks over at BGR just reported it will NOT undo it as this version is exactly like 3.0, except that it contains the SMS fix. Article here.
hmmm Twitter anyone?
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Bethesda Softworks announced this morning that Fallout 3 has dropped 4.7 million units on retail and (Geiger) counted sales of over $300 million. Initial retail data from the UK shows the game is a hit on every platform it was released on. Don't let the money fool you, the title isn't just a sales darling, it's been well received by critics as well.
So, when do we get Fallout 4? We do know that Bethesda is "potentially" working on getting another Elder Scrolls out the door for 2010, but perhaps the hundreds of millions in Fallout dollars will convince the developer to hire some folks to work on another post-apocalyptic RPG at the same time.


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Bitcoinminers aren’t giving up in China despite Beijing’s ban on the practice.
Investors have withdrawn more than $7 billion from tether since it briefly dropped from its dollar peg, raising fresh questions about the reserves underpinning the world’s largest stablecoin.
Investors have been eager to find out what happened to the $3 billion in bitcoin bought up by crypto firm Terra to back its failed stablecoin. Now, they’ve got their answer.
The blockchain behind the collapsed TerraUSD stablecoin and the affiliated Luna token stopped processing new transactions for the second time in less than a day.
Bitcoin dropped below the $27,000 level as a recent sell-off in the cryptocurrency space continues.
The two main tokens from embattled crypto project Terra are now in freefall.
Within a decade, 1 billion people will have used or tried crypto, up from about 200 million currently, Coinbase Global Inc,. Chief Executive Officer Brian Armstrong said at the Milken Institute Global Conference on Monday.
The price of bitcoin climbed about 6% Wednesday after the Federal Reserve raised rates by half a point —the biggest hike in about 20 years — as expected.
The idea of a super app first took off in China, where WeChat is used for everything from sharing photos to hailing a taxi. A U.K. startup pledges to bring that concept to cryptocurrencies.
Grayscale Investments LLC, which runs an almost $30 billion Bitcoin trust, is getting ready to expand into Europe, according to Chief Executive Officer Michael Sonnenshein.
May 20, 2022
May 19, 2022


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Nokia G 60 launched last month is coming to India soon, Nokia announced on twitter branch.
Nokia has yet to reveal the pricing and availability details of the G60 in India, but this The smartphone has been listed on its official India website with only one memory configuration – 6GB RAM and 128GB storage. However, it will be available in two colour options – Black and Ice.
The rest of the Nokia G specs include Snapdragon 393 SoC, 6.60″ 50Hz FullHD+ LCD, and 4, 316 mAh battery with 60 W charging. Smartphone runs Android out of the box) and comes with three Android version upgrades and a three-year commitment to monthly security updates.
The G50 Four cameras onboard – an 8MP shooter on the front and a 30 MP main camera back, 5MP ultra-wide and 2MP depth unit. The smartphone supports 5G network, has a side-mounted fingerprint scanner, and has IP 30 Rating.
Nokia also released the X last month) and G30, but it’s unclear if this version will Made its debut in India with G. While we wait for Nokia to provide information on G60 For more details on pricing and availability in India, you can read our Nokia G60 Get your hands on more info here.


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The UK and US published a joint statement today on their response to cyber warfare, with the director of GCHQ and head of US Cyber Command promising to “continue to adapt, innovate, partner, and succeed against evolving threats in cyberspace”.
“We will achieve this by planning enduring combined cyberspace operations that enable a collective defence and deterrence and impose consequences on our common adversaries who conduct malicious cyber activity,” they said.
The combined ops go deeper. Hannah Murphy and Katrina Manson report on a joint analysis carried out by the FBI, the UK’s National Cyber Security Centre and the Australian Cyber Security Centre. It found Iran was behind an “ongoing” campaign of ransomware and other cyber attacks on US critical infrastructure and Australian organisations that began in March.
Iranian government-sponsored hackers had been “actively targeting a broad range of victims across multiple US critical infrastructure sectors, including the transportation sector and the healthcare and public health sector”, the report said. They had exploited a bug in software from security group Fortinet along with a flaw in Microsoft email software. A US hospital specialising in healthcare for children was among targets successfully breached.
UK hospitals have apparently not been victims of these attacks, but the annual review this week of the National Cyber Security Centre, part of GCHQ, said it had “expanded its online defence of the UK by managing an unprecedented 777 incidents over the last twelve months — up from 723 the previous year — with around 20 per cent of organisations supported linked to the health sector and vaccines”.
This included helping vaccine researchers at Oxford university, where the AstraZeneca jab was being developed, deal with a ransomware attack affecting “research crucial to the rollout of the national immunisation programme”.
There are even bigger concerns. Sir Jeremy Fleming, GCHQ director, warned in the review’s foreword that “technology leadership is shifting eastwards. The key technology we will rely on for future prosperity and security won’t necessarily have democratic values at its core. We will work with partners around the world to help the UK and allies face this moment of reckoning.”
The Internet of (Five) Things
1. Alibaba hit by slower growth
Alibaba’s US-listed shares fell more than 10 per cent after the ecommerce group cut its sales forecasts sharply, citing slower growth in Chinese consumer spending. In quarterly results on Thursday, Alibaba said it now expected 20-23 per cent sales growth in 2022, compared with an earlier forecast of 30 per cent, after experiencing “softer market conditions”.
2. US joins UK and EU in Arm concerns
The US has raised potential objections to Nvidia’s controversial acquisition of the UK chip design company Arm from SoftBank, adding a fresh hurdle to a deal that has already stirred up serious opposition on the other side of the Atlantic. Richard Waters comments that hopes the deal can still go ahead are fading fast.
#techFT brings you news, comment and analysis on the big companies, technologies and issues shaping this fastest moving of sectors from specialists based around the world. Click here to get #techFT in your inbox.
3. EU broadens Big Tech targets
EU lawmakers have reached a breakthrough on how to target tech companies. It would bring Google, Amazon, Apple, Facebook and Microsoft, alongside Netherlands’ Booking and China’s Alibaba under the scope of the planned Digital Markets Act. Europe Express reports Google is stepping up its outreach to EU regulators.
4. Ford pact to secure semi supplies
Ford has signed an agreement with chipmaker GlobalFoundries to improve semi supplies as the car industry confronts a shortage. The carmaker said the non-binding agreement “opens the door” for joint research and development and manufacturing of chips to supply its own assembly lines and others in the US auto industry.
5. Investors take cash out of Paytm IPO
Shares in Indian financial technology company Paytm fell by more than a quarter on its stock market debut, wiping $5bn off its valuation in a rout that underscored investor unease about India’s largest ever IPO. Lex says the shares still trade at a steep 72 times book value, seven times global peers such as PayPal, and have further to fall.
Forwarded from Sifted — the European start-up week
Sweden’s Klarna became the world’s second most valuable private start-up earlier this year, after an investment led by SoftBank saw the fintech secure a $45.6bn valuation — four times that of a year before. But an analysis by Sifted showed that it’s not just early investors sitting on substantial gains, with more than 75 employees with equity becoming paper millionaires already — and likely many more to come.
Elsewhere in European start-ups this week, one Italian tech company has come up with an unusual answer to the problem of sustainability, buying its own electro power plant to fuel its servers. Also, British VC firm Balderton Capital, known for backing companies such as Revolut and Depop, this week raised its largest early-stage fund ever; and Sifted pulls together a guide to making money from the metaverse.
Tech tools — Spotify Lyrics
This could prompt singalong sessions at your desk. Spotify today announced the global rollout of Lyrics, available to both Free and Premium users. It has partnered with Musixmatch to give users in-app access to the lyrics to the majority of its library. Just update your mobile, desktop, TV or console app and click on the new microphone icon on the Now Playing bar to bring up a line-by-line text rendition of the song. The next step is the most difficult: try to sing along in tune.


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Microsoft is internally developing a new Windows Phone app called Revolve. According to the description on its store page, the app is being made to help people start conversations with others in a more meaningful way by delivering information about those they are about to get together with beforehand.
This is not a dating app; it's being made as a business application that combines elements of a calendar and contact manager. ZDNet's Mary Jo Foley reports that it was originally developed as an iOS app as part of the Microsoft Garage incubator program and is now apparently being ported to Windows Phone. So far, neither version has been publicly released.
Here's the official description from the Windows Phone Store page:
"Revolve prepares you for every conversation in every meeting. It works in the background to find and display relevant insights about the people you're going to meet. Easily sidestep small talk and spark real conversations that matter."
This is yet another example of Microsoft working on multiple mobile apps for different platforms, including the Flow email-chat app for iPhone and the just revealed OneClip app for Windows 10, iOS and Android. There's no word on when, or even if, Revolve will be released.


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The Oregon-based outdoors apparel and footwear company and its Italian subsidiary, OutDry Technologies, announced Monday that they have filed a complaint with the European Commission that accuses W. L. Gore & Associates Inc. of abusing its dominant market position in the sale of "waterproof breathable membranes for footwear and gloves."
The Brussels-based European Commission regulates competition in the 27-nation European Union.
Also, Columbia noted in Monday's news release, the Federal Trade Commission is conducting its own investigation. The U.S. agency subpoenaed the company in March seeking documents to determine whether Gore has "engaged in unfair methods of competition"
Delaware-based Gore denies the accusations.
Columbia, which posted nearly $1.5 billion in sales last year, filed its complaint with the EU in late 2010 but decided to come forward now to address industry rumors, said Columbia spokesman Scott Trepanier.
"It's been something we've been looking at for a while," Trepanier said, declining to elaborate on the Washington County company's allegations in the EU complaint.
By shining a light on the two issues, Columbia also can draw attention to two competing waterproof materials: OutDry, made by the Milan-based partner it acquired last August; and Omni-Dry, a waterproofing, breathable material that Columbia officials often say is just as good or better than Gore-Tex.
Mitch Katz, a spokesman for the European Commission declined comment because an investigation in under way. But a spokesman for W.L. Gore disputes that the company engages in anticompetitive methods.
"As the (trade commission) learns more about Gore's business practices, they will learn these practices are in compliance with the applicable federal law," said spokesman Michael Ratchford.
Depending on the outcome of the two complaints, other fabric brands could be affected in an industry where Gore-Tex is regarded as the pricey, with jacket shells retailing from $250 to $1,000.
The privately held company's Gore-Tex technology was developed in 1969 by Robert W. Gore. Based in Newark, Del., it also makes advanced technology products in the electronics, medical and fabrics markets and reported 2009 sales of $2.5 billion.
Outdoor gear retailers, such as Seattle-based REI Inc, typically carry garments with Gore-Tex as well as other water-proofing technologies.
"We are supportive of the investigation into Gore's business practices and, if asked, we will cooperate," REI spokeswoman Libby Catalinich said.
REI stopped using Gore-Tex in its own branded garments in 2008, switching over to eVent-brand material.
"Shortly thereafter," in 2008, Catalinich said, "Gore terminated the licenses under which our REI footwear was manufactured."
Asked why the licensing contract for footwear was canceled, she said, "Gore will have to answer that."
A Gore spokesperson could not be reached Monday evening.
Other waterproofing materials have been catching up with Gore-Tex for breathability and protection, said Tyler Noonan of The Mountain Shop at 1510 N.E. 37th Ave.
"For a long time," said Noonan, apparel buyer for the shop that's been in Portland nearly 75 years, "Gore-Tex has had the best marketing and their product is one of the more water and breathable options on the market."
Columbia already had been targeting Gore-Tex on the marketing front.
Last year, a company official at a sales presentation for buyers, analysts and gear testers, used an epithet to describe Gore-Tex.
Columbia has in-store Omni-Dry signage that states, "Better than Gore-Tex." At the last two major outdoor gear industry shows in Salt Lake City, Columbia has conducted side-by-side tests of Omni-Dry and Gore-Tex fabrics, intended to demonstrate the Omni-Dry is superior.


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We have all heard about the huge impact that the roll out of vaccinations are having on people around the world. Names like Moderna, AstraZeneca and Pfizer are now household names because of the new vaccines.
Enbi is also playing a big role in supporting the roll out with rollers made in Hungary being used on specialist machines made in Europe to print labels for the vaccination jars and boxes.
“Enbi’s long standing partner in label application systems recently has seen a huge increase in demand for our ground rollers”, said Monica Palanta, Key Account Manager. “This increase has come about because of the introduction of the new COVID19 vaccines. Each bottle has a label on that is printed using our customer’s machine. I am so proud to say that Enbi is helping to make the world a safe place and helping people to get back to a normal life!”
Enbi – Invisible Precision
In response to the COVID19 pandemic Enbi Group, Xerox Holdings Corporation and Vortran Medical Technology


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(Exclusive interview).- Albert Radman, Sales Director at Alfastreet, talked with Focus Gaming News before the start of Entertainment Arena Expo.
The Entertainment Arena Expo (EAE) will take place on September 3-5 in Romania. That is why companies all over the world are getting ready to showcase their products.
Alfastreet, a leader in the region, will seek to further establish its brand in the territory at this year’s event. Sales Director Albert Radman talked in an exclusive interview with Focus Gaming News and discussed the expectations for this year’s EAE.
You’ve attended several shows over 2019, including some of the most notorious in the world. What does Entertainment Arena Expo bring to the table for Alfastreet in its 25th year in the industry?
Romania is, and will always be a special market for Alfastreet. This market was the first success for Alfastreet that helped us in a major way, to become who we are today.
In our initial years, we were lucky to connect with our distributor, Game World Romania, that stayed with us through all these years. Together we made Romania an ”Alfastreet” market, with hundreds of roulettes installed across all the country. With time, some changes were inevitable and the gaming market reduced considerably, yet our brand still remains a dominant electronic table game on the market and our distributor still works as hard as it did 20+ years ago.
That is why EAE is important for us and instead of them bringing something to us, we actually bring ourselves to them, to show appreciation to our customers, friends and partners, and to make sure Romania remains in our hands for many years to come.
Do you plan to focus on the Central and Eastern Europe casino market during your stay at EAE or does it bring further opportunities for the company?
EAE is mainly focused on the local market. While some visitors could come from the other sides, we notice the great majority of visitors come from the local market. Our focus is always on anyone that stops at our booth, regardless of the country of origin.
Instead of EAE bringing something to us, we actually bring ourselves to them.
You highlighted your performance at G2E Asia due to your installations in the Philippines and Singapore. What do you expect to be the Alfastreet’s highlight at EAE?
As mentioned, Romania today is much different than some years ago. The gaming market is small and somehow saturated. Our goal is to keep all of our machines running and grab any new opportunity that comes along. There’s nothing major that can happen in this market, especially not something as big as it happens in Asia. Yet Romania remains ‘our’ market and we appreciate and value anything that happens there for Alfastreet.
As a Slovenian-based company, how important is to have events like EAE or Eastern European Gaming Summit on Alfastreet’s development in the region?
Being a small company, this allows us to be more flexible with our development and customisation of the product. These shows are a truly important source of information and knowledge, crucial for our future development and customisation of the products dedicated to such markets.
Romania remains ‘our’ market and we appreciate and value anything that happens there for Alfastreet.
The event will host some online betting companies. As a casino equipment developer, how big of a challenge does the iGaming industry mean for Alfastreet?
Being small, yet dominant in our field of manufacturing, we believe the ”online” effect will be minor. Our main advantage is the fact that we’re basically selling live games, packaged in electronic machines. Online gaming is much more threatening to the land-based slot market and I’m curious to see how strong the effect will be in the following few years.


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CES: The Future on TV
One of the best articles on CES I’ve read in the past week was published before the show even opened. Of course, if only I had read the WSJ that morning instead of packing, I might have been better philosophically prepared for what was to fall into my purview. The article, The Future On TV, by Holman Jenkins (sub. may be required) reminds us that innovation has a natural and powerful role in creatively destroying the franchises built around previous generations of technology.
Holman argues that the role of the Internet-Enabled TV is to dis-intermediate the network from the content providers and reset the balance of power in favor of the content producers. Users won’t need the cable company, or the phone company, or the satellite company to watch movies, scripted shows or even reality TV. These will be available from NetFlicks, Hulu.com and a half-dozen other TV Internet-broadcast experiments, for fees so small, that it makes the cable/telco/satellite network companies cringe.
Now that the local broadcasters have digital bandwidth to work with, they can focus their resources on the two truly perishable programs – sports and news. So what exactly do I need a phone company, cable company or satellite company for? BANDWIDTH. And, that’s about it.
But surely, this won’t just be about reducing consumer spending?
If you had told me a decade ago that I’d be spending $300/month on communications and entertainment I would have laughed you out of my office… sadly, I do spend that amount and a recent study now in production at Brockmann & Company says that I am not alone. Instead of total disintermediation, I suspect the broadcasters and Internet companies will discover a revenue model that doesn’t destroy the cableco/telco/satco network, since like the scorpion riding the frog’s back to cross the river, Internet companies need somebody to provide the infrastructure. Sadly, this yet-to-be-discovered model, will involve cash mining from consumers not unlike the wonders of modern communications and entertainment services have managed to do over the past three decades.
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Food inflation: McVitie’s owner United Biscuits shifts from pandemic to ‘perfect storm’
The boss of United Biscuits warned yesterday that food manufacturers were facing a “perfect storm” of costs as the maker of McVitie’s, Jaffa Cakes and Hobnobs revealed that its profits had fallen back in 2021.
Against tough comparisons with the year before, sales fell by 2 per cent from £867.5 million to £852.1 million as the biscuit market shrank by 1.8 per cent. Pre-tax profits fell 15 per cent from £74.5 million to £63.2 million.
The company enjoyed a rise in sales during the pandemic as people bought more food to eat during lockdowns and turned to comfort treats and trusted brands.
Pladis, United Biscuits’ parent company, has been owned by Yildiz Holding, of Turkey, since 2014 after a £2 billion deal. United Biscuits employs


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A U.S. subsidiary of Israeli company Omen Casting Group has found a new way to protect its valuable products within the factory during manufacturing. Omen USA, based in Richmond, Indiana has chosen the Primex Design & Fabrication (PD&F) Bubble-X® Sleeve Pak container system to move valuable castings throughout its brand-new plant. Omen has purchased 100 [...]
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Primex Design & Fabrication is now constructing its Sleeve Pak shipping durable sleeves from its lighter, more durable 8mm Bubble-X® board. Our newest customer is using 3,000 Bubble-X Sleeve Paks to ship foam seat cushions from several U.S. locations to automotive manufacturers throughout North America. We’ve reduced the thickness from 10mm to 8mm while delivering [...]
To our valued customers: In light of recent plastics industry acquisitions and other changes in the marketplace, we’d like to reiterate our position and continued commitment to providing our customers with the highest quality products and services. One Company. One Direction. One Solution. The consolidation of our Woodruff and O’Neil divisions into our Primex “One [...]
Richmond, Indiana – Primex Design & Fabrication (formerly Woodruff Corporation), the leading manufacturer of reusable, returnable and fully recyclable plastic totes, shipping containers, point of purchase displays and retail packaging, has automated its production process for the manufacture of its Bubble-X™ Sleeve Pak durable sleeves for shipping. According to Doug Borgsdorf, unit director for Primex [...]
This past Fall and Spring Primex Design & Fabrication was proud to partner with three students from the Ivy Tech Richmond Campus on industrial design projects. PD&F offered the students the opportunity to participate in real-world product design by creating new products using the unique Bubble-X™ extruded sheet material. Professor Patrick Piper supervised the students [...]
Woodruff Corporation, the leading manufacturer of reusable, returnable and recyclable plastic shipping containers, point of purchase displays and retail packaging, and O’Neil Color & Compounding, a leading supplier of color and polymer solutions for plastics processors, have announced a change of their names to Primex Design & Fabrication and Primex Color, Compounding & Additives, respectively. [...]
New Primex Fabrication Shipping Sleeves Provide Recyclable, Reusable System for Durability and Reduced Weight
Richmond, Indiana – Primex Design & Fabrication (formerly Woodruff Corporation), the leading manufacturer of reusable, returnable and recyclable plastic shipping containers, point of purchase displays and retail packaging, has announced the release of Bubble-X® Sleeve Pak durable sleeves for shipping. Primex Fabrication will be exhibiting the Bubble-X Sleeve Pak system at Pack Expo 2016 booth E-6782, November [...]
May 3, 2016 – The Economic Development Corporation of Wayne County had its annual meeting Monday, where it celebrated 2015 — a year of growth for the area's workforce — and gave a glimpse into what the region can expect for the rest of this year. In 2015, the EDC completed 12 major projects totaling $27.59 [...]
Richmond, Indiana, February 17, 2016 – Woodruff Corporation, the leading manufacturer of reusable, returnable and recyclable plastic shipping containers, point of purchase displays and retail packaging, recently announced the appointment of Todd Gray as plant manager at the company’s Richmond facility. Woodruff, a division of Primex Plastics, is headquartered in Richmond, Indiana. Gray, who most [...]
Tampa, FL, Nov. 18, 2015 – Woodruff Corpororation has joined the Reusable Packaging Association (RPA), adding their expertise to the association’s mission of expanding the use and value of reusable packaging systems. Woodruff Corporation designs and manufactures reusable, returnable, and recyclable corrugated plastic packaging. “We are dedicated to helping the market understand the value, efficiencies, [...]


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NRF: More jobs translates into greater retail success
In President Barack Obama's State of the Union address, he spoke in-depth about the importance of jobs to the revival of the national economy. While more than 3 million positions have been created in the past 22 months, the country is still down a total of 5 million. Obama hopes to enact new legislation that will restore those lost jobs.
As the National Retail Federation notes, this goal is crucial to the continued growth of the retail sector. Merchants are largely dependent on a health base of shoppers, and more unemployed Americans means fewer people are able to spend money in stores. While the retail sector has contributed a great deal to the 3 million jobs created, other sectors need to pull their weight as well.
"Job creation is our nation's No. 1 priority, and as the industry that supports one out of every four U.S. jobs, retailers stand ready to do their part in putting Americans back to work," NRF president and CEO Matthew Shay said. "Retailers are helping to rebuild the economy, but Washington must get moving to encourage job growth and remove barriers to job creation."
President Obama spoke specifically about different legislation designed to improve hiring in troubled induestries such as construction. However, Shay asserts the president should also aid other service sectors – such as retail – and make it easier for them to take on new help as well.
Earlier this month, Shay and Terry Lundgren, the president of Macy's, sent a letter to Obama that outlined some of the approaches that could be used to reduce the red tape that surrounds the retail sector. Some key issues included sales tax fairness legislation, corporate tax reform and free and open trade initiatives.
"The letter also asked Obama to address neglected transportation infrastructure, credit card swipe fees, and healthcare reform mandates. It also asked for quicker visa processing to make it easier for foreign visitors to come to the United States to shop," the NRF statement notes.
In November, the retail sector was cited as a driving force in bringing the unemployment rate to a two-year low as merchants brought on help for the holidays.
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American Express Co
Net income fell to $640 million, or 53 cents per share, from $815 million, or 70 cents per share, a year earlier, the largest U.S. credit card company by purchases said in a statement.
The third-quarter results included a $180 million non-recurring benefit associated with the company's accounting for a net investment in consolidated foreign subsidiaries
Excluding that benefit, American Express posted adjusted earnings from continuing operations of 44 cents per share.
Total revenue fell 16 percent to $6.0 billion.
American Express shares rose 13 cents to $36.57 in after-hours trading after closing at $36.44 on the New York Stock Exchange. The company is the biggest Dow component gainer so far in 2009.
(Reporting by Juan Lagorio; Editing by Steve Orlofsky)


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Negombo, Feb 11 (Daily Mirror) - Sri Lanka’s first-ever Floating Resort, Bolagala Agro Floating Resort in Negombo, will be opened on March 1, 2024, the Chairman of Bolagala Agro floating Resort, Kelum Perera said.
The resort boasts 31 meticulously crafted cabanas spread across 13 acres of water surface.
He said that in a world where sustainability has become an imperative, innovation in the hospitality industry is taking remarkable strides towards eco-friendly practices.
"Embracing this ethos, a new beacon of responsible tourism has emerged with the grand opening of the Bolagala Agro Floating Resort.
" Nestled amidst the serene waters of giant water holes in Bolagala, Katana in Negombo, this avant-garde resort promises not only a luxurious retreat but also a commitment to environmental stewardship," he said.
The Chairman of Bolagala Agro floating Resort, Kelum Perera told news media that they are thrilled to commence its operational works by providing unparalleled hospitality and unforgettable experiences to both local and foreign guests.
The resort's design seamlessly integrates with its surroundings, utilizing sustainable materials and eco-friendly construction techniques.
Guests are invited to indulge in a farm-to-table dining experience, where organic produce sourced from the resort's own agro-farm takes center stage.
Moreover, the resort serves as a sanctuary for local flora and fauna including tea plant cultivation, with initiatives in place to preserve the delicate ecosystem of Bolagala. Guests can embark on guided nature walks or partake in community-driven conservation efforts, gaining a deeper appreciation for the natural wonders that surround them.
But perhaps the most awe-inspiring feature of Bolagala Agro Floating Resort is its commitment to responsible tourism. The resort actively engages with village community, offering employment opportunities and supporting local businesses. By fostering a symbiotic relationship with its surroundings, the resort aims to empower and uplift the village community through the Gemi Gedara (Village House) concept.
The resort embodies a collaborative spirit, a testament to the ingenuity of around 30 local investors including cricketing star Tillakaratne Dilshan and the expertise of homegrown engineers who have pooled their talents to bring this vision to life.


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TOPEKA, Kan. — A FedEx executive says a higher-than-normal volume of Christmas-season package deliveries won’t interfere with the company’s effort to ship coronavirus vaccine doses.
Jenny Robertson, a FedEx senior vice president, said two trucks on Sunday moved doses of a vaccine developed by Moderna and the National Institutes of Health from a factory in Olive Branch, Mississippi, to the company’s world hub in nearby Memphis, Tennessee, so that shipments could be loaded onto its airplanes bound for multiple states.
She said the company is keeping its networks for shipping the vaccine and handling Christmas packages separate.
“Nothing’s more important than the delivery of the vaccine to us, but we have put in place distinct networks that are keeping e-commerce moving through our ground network and vaccines moving through our express network,” she said. “We’re able to manage this volume right now.”
Robertson said the company has seen holiday-level volumes for shipping packages since March because consumers switched how they buy products during the pandemic.


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FORT LAUDERDALE, Fla. - The Florida International Trade and Cultural Expo is coming to South Florida.
The event, hosted by the Broward County Office of Economic and Small Business Development (OESBD), welcomes local and international companies for a unique opportunity to engage former heads of states, high level government leaders, international trade experts and delegations from around the world.
Attendees can participate in dialogues relating to international trade, foreign direct investment and culture.
FITCE 2017 expects to attract 200 international businesses, 400 local businesses, multi-cultural global trade representatives from more than 50 countries and government leaders from around the globe, including the former president of Guatemala, Alvaro Colom, and former president of Bolivia, Carlos Mesa.
Those in attendance can meet one-on-one with the government officials, participate in opportunities to match business owners with suppliers and enter a chance to win two economy airline tickets to Dubai, courtesy of Emirates Airlines.
FITCE 2017 takes place Oct. 17 and 18 at the Greater Fort Lauderdale Broward County Convention Center, 1950 Eisenhower Boulevard, in the Floridian Ballroom.
Admission is free. Attendees must arrive on site by 8 a.m. on both conference days.
For more information on FITCE, contact Paola Isaac Baraya, Economic Development specialist (international trade), at 954-357-6400 or visit www.fitcexpo.com.
Copyright 2017 by WPLG Local10.com - All rights reserved.


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Follow and subscribe to DayakDaily on Telegram for faster news updates.<!––
By Lian Cheng
KUCHING, Oct 29: Deputy Domestic Trade and Consumer Affairs Minister Chong Chieng Jen said the Sales and Services Tax (SST) would not bring down the prices of goods.
However, he said under SST, the prices of goods would be lower, generally.
“Just to be clear, SST will not bring down prices of goods. It would be ridiculous to suggest that. But if you compare SST to GST (Goods and Services Tax), generally, the prices of goods will be a lot lower. That is the situation,” said Chong during a Memorandum of Understanding (MoU) signing ceremony between Polarwood Sdn Bhd and its three major tenants at Sentosa Parade here this morning.
Chong, who is Stampin MP, said his ministry was in constant touch with supermarkets and other retail stores. They need to submit fortnightly a list of the prices of 40 to 50 of their most sellable merchandise, which the ministry monitors.
“GST is a multi-layered tax, so the six per cent is imposed on the retail price. SST on some goods is five per cent and some 10 per cent, but the tax rate is imposed on the cost price. There is a difference, a very big difference,” said Chong.
He added that with SST replacing GST, the federal government would collect RM21 billion less compared to when the GST was imposed.
Chong, who is also Kota Sentosa assemblyman, said under GST, an average of RM43 billion per year was collected as GST tax. Under SST, the federal government had estimated the collection to be RM21 billion annually.
“In other words, there is an additional RM22 billion in the hands of the consumers,” he pointed out.
When GST was implemented, many sundry shops closed down as purchasing power was “sucked up”, where “generally there was a withdrawal from the system” as businessmen opted out.
“Under SST, you have an additional RM22 billion cash in the hands of the consumers. It is up to businessmen on how to get benefits out of the RM22 billion,” he said.
He said when one compared the two systems, SST helped retail businesses, which combined with the manufacturing sector constituted about 15 per cent of the national gross domestic product (GDP). — DayakDaily


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Netflix Games is the new service offered by this streaming platform. This is integrated into your current subscription and allows you to enjoy video games on mobile devices. Although, it is now limited to a few games like Stranger Things 1984 or Stranger Things 3.
Total, Netflix Games has five launch video games: Stranger Things: 1984 and Stranger Things 3: The Game, as well as Shooting Hoops, Card blast and Teeter Up. Although it is a small catalog, the company promises to bring new experiences in the near future.
Some of the titles that it could bring are of puzzles, narrative stories, as well as more complex experiences. We hope to hear from you soon.
Why did the company create Netflix Games?
As mentioned Gamerant, Netflix has been attempting to enter the industry since the early summer of 2021. As such, it has hired industry veterans such as Mike verdu, who was vice president of video game development for Electronic arts. Finally, Netflix Games went on the market in August for Poland.
By the end of September, it was available at Spain and Italy. Its worldwide launch came on November 3, 2021. The company is probably looking to expand its market through Netflix Games. Maybe other streaming companies like Disney + or Funimation they could follow suit.
In this way, Netflix Games joins other services such as Crunchyroll that have been in the market for video games for mobile devices the longest. Follow the discussion on this and other topics on our channel Discord. You can also stop by our Youtube To see more content related to anime, movies, comics, video games and more from geek culture:


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A cereal-head in Fort Collins, Colo., freaked when she couldn’t find any Count Chocula seasonal cereal at her local grocery stores. As it turns out, nearby Black Bottle Brewery had bought out the entire Chocula stock to brew a secret Halloween beer.
Count Chocula is the latest ingredient in Black Bottle’s Cerealiously craft beer series. The run of specialty milk stouts has also included Golden Grahams, Cinnamon Toast Crunch and Reese’s Puffs. Black Bottle general manager Steve Marrick says the brewery uses a process similar to dry-hopping to make the limited-edition beers.
“We put the cereal into a hopback so it doesn’t get into the beer,” he says. “We did it as a joke at first, but the beer turned out well.”
Black Bottle Brewery will release Cerealiously Count Chocula on October 30. Expect a follow-up Lucky Charms beer for St. Patrick’s Day.
Alyson Sheppard is a writer and hangover specialist at Playboy Digital. Her work has appeared in Popular Mechanics, Mental Floss, McSweeney’s, National Geographic Adventure, Jezebel, and more. Follow her on Twitter: @amshep


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Pricier school lunches for overseas military kids are angering parents
High school cafeteria sees growth after leaving federal lunch program
Judge lets FSDs get confidential help from anti-union pros
What’s keeping C&U operators up at night?
An employee onboarding cheat sheet
Is it ever OK to serve expired food?
Ensuring Food Safety
Food Pricing Database
How a trailer is boosting sales to high school students
School districts get creative to grow summer feeding programs
Collaborate with peers to share ideas
Health & Wellness
Operators Share Their Best
Steal This Idea
Healthy beverages to beat the bottled water blues
How C&U menu and flavor trends are showing up at the College World Series
How FSDs can put health on the menu without a workout
Creating Healthier Menus
Healthy Recipe Revamp
K-12 Census: Making the effort
2016 FSD Menu Survey
2015 LTC Census: The state of Senior Living
The Big Picture
How FSD Kellie Piper empowers SAP Palo Alto
Gold Plate winner Rafi Taherian's secrets to success
Michael West: Saying 'yes' is the key to success
FSD of the Month
People on the Move
How to increase speed of service
Using plant-based beverages in the kitchen
Enhanced water bubbles up on menus
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May 15, 2016
Calling all chefs who want to make a difference
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May 12, 2016
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May 6, 2016
Taking condiment bars to the next level
Stations where students can add flavor and customize their meals represent a very effective way for operators to keep engagement levels high.
May 3, 2016
Has organic really gone mainstream?
Although organic foods are a point of focus for many consumers, they still have room to grow.
May 2, 2016
Better-for-you beverages boom on college campuses
The health and wellness trend that’s sweeping the college and university market is about more than just better-for-you foods. It also includes healthier beverages.
April 29, 2016
Taking menus to the streets
Street foods are hot and in demand, and nowhere is that more apparent than on college and university campuses around the country.
April 28, 2016
New grab and go options boost healthcare menus
Almost 80 percent of hospital foodservice operators say they offer some form of grab and go options, and over 70 percent of operators say they expect sales in that segment to increase.
April 26, 2016
Boosting your breakfast business
Throughout the foodservice industry, getting the most out of the morning meal requires an understanding of consumers’ needs and behaviors.
Today's Top Story
8 ways to boost catering business


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Lowe’s slogan is “do it right for less.” While that primarily applies to home repair and improvement, the company is also applying it to the world of software development.
According to a report in the Wall Street Journal, Lowe’s is looking to retool its e-commerce solutions. The goal is to have 80% of the applications it uses be built internally by 2020. This will involve looking at their application portfolio and replacing commercial, off-the-shelf applications with custom replacements. This will involve hiring as many as 2,000 software engineers, data analysts and infrastructure specialists.
As Mark Driver, research vice president at Gartner, Inc. told the WSJ, “we’re in an age where people have their clothes custom fit. The same thing goes with software; it’s about gaining that advantage.”
This is just the latest move on the part of the home-improvement giant to modernize its IT infrastructure. Shortly after being hired as CIO, Seemantini Godbole told analysts and investors the retailer’s technology was “well behind leading retailers in terms of strategy, architecture, process maturity and capabilities.” Ms. Godbole helped unveiled a plan to invest $500 to $550 million per year through 2021, in an effort to modernize the retailer’s decade-old e-commerce system.
The announcement by Lowe’s is just the latest in a solid growth trend for the custom software development market, as companies increasingly turn to custom solutions to achieve tighter integration, better performance and lower cost.


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The omnibus, or ‘Job Creation’ bill was first proposed by President Joko Widodo, who recently signed this into law. The final draft is over 800 pages long, and it is expected to impact over 1,200 provisions across more than 70 existing laws.
Within these are many provisions and regulatory changes expected to impact the food and beverage industry in Indonesia, with a key area of change expected to be in terms of ease of access to imported ingredient inputs due to a degree of liberalisation.
“Food imports have always been allowed into Indonesia of course, but the system is very complicated – previously it’s always been that if there is sufficient domestic production of a food, imports are not allowed, but the data on whether local production is sufficient is not always reliable, so there have been a lot of issues,” local think tank Center for Indonesian Policy Studies Head of Research Felippa Amanta told FoodNavigator-Asia.
“It’s not that the gates will just open, imports are still subject to tariff measures, but what has changed with the omnibus law is that it now normalises imports and officially acknowledges these as a complementary measure to domestic food sources in alignment with FAO guidelines.
“The actual regulations to enforce each part of the omnibus law are still in progress, but I do believe we’ll see things like licensing and imports being liberalised for food – so where previously import prohibitions kicked into place as long as there is enough food as mentioned, now there could be other reasons for allowing imports such as high food prices.
“The strategy here is they want to open up imports to increase competitiveness, but at the same time also support and equip local food firms and producers with the skills and technology to compete – so the government is really trying to be innovative in this space.
This is actually likely to be one of the main areas benefitting food and beverage manufacturers, as it opens up the door to more overseas ingredient input.
“The liberalised import measures would hopefully make it easier for the F&B industry to access input needs – there are many companies that rely on raw materials from outside Indonesia such as sugar and wheat, and this would make it easier and cheaper for them to access these,” said Amanta.
“This is across the board too – if implemented, we can see it benefitting not just big brand names and companies, but also small and medium food enterprises that need these raw materials.”
The other area most expected to benefit food firms if implemented properly is in terms of business licensing, which the omnibus law is looking to streamline.
“The law will make it such that local governments will still be in charge of business licensing but will now have a standard electronic system and guidelines from the central government to follow called the Norma Standar Prosedur dan Kriteria (NSPK),” she said.
“This is hoped to improve the system as previously different local governments would have different added requirements and also different response times, making it difficult to get licenses, so they really want to streamline this process now.
“This system also looks to simplify business requirements to obtain licenses, and under this simplification, I believe that again all F&B companies big and small are set to benefit.”
However when asked if any implementation challenges were foreseen with the new electronic system, especially in rural areas, Amanta concurred that this was a major concern currently.
“How they intend to implement this in terms of technology is definitely the biggest concern – they will need to see how to get people to comply and use the system, which will be a tough challenge,” she said.
“Another major concern here is that this new system intends to divide businesses into Low, Medium and High risk classifications based on assessed risk to health, environment, safety and so on – and this is also a major challenge as the means of classification are as yet unclear, so many companies are worried.”
Palm oil and environmental concerns
The law has been a source of great controversy ever since Widodo first proposed it and its recent signing into law led to fervent protests from the Indonesian public.
“The public in general is upset due to both the process and the substance of this – the main thing about the whole process has been that it’s been very non-transparent with little public engagement. The whole thing has felt very rushed, and there were many changes even after it was passed in parliament, which should not happen,” she said.
“Substance-wise, one of the main controversies was around the environmental issues – this is very much related to the lack of transparency. There is a lot of misunderstanding that environmental regulations were removed, but in fact they were not – it’s more that some environmental laws were ‘demoted’ to regulations, which essentially have lower legal power, and that’s what activists are concerned about.”
As for how this would affect food industries such as palm oil, which is already under attack by western countries for its apparent destruction on the environment, Amanta expressed concern about this moving forward.
“The problem is that the way they’ve gone about it and the lack of transparency could send the wrong message, and this is such an important area for EU relations, especially when talking about a commodity like palm oil,” she said.
“They are still taking environmental concerns into consideration – this leads back to the risk-based approach in business licensing where an industry like palm oil could be classified medium or high risk and then be mandated to undergo an environmental impact assessment – but this has not been communicated transparently.”
All in all though, she is certain that protests or not, the law will proceed for better or worse, although it seems that the fight is not yet over.
“There is no chance President Widodo will back down on this – it’s what he wants as his legacy, and there’s no way he will change his mind,” said Amanta.
“The protests are settling down now and things are more stable, but people are still looking for ways to stop this e.g going through the judicial system, but I doubt it will make a huge difference, so I do feel it’s here to stay.”


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Sales of electronic cigarettes are expected to double this year, with global sales around $2 billion in 2011 and numbers of fashionable e-cigarette “boutiques” popping up in Europe and the U.S.
But where if not Manhattan’s Canal Street will tourists get a taste of the seedy and indulge their shopping desires at the same time? New York lawmakers are pushing to pass legislation that would make purchase of counterfeit goods punishable by up to a year in jail or $1,000 in fines.
A Reuters survey of 52 Wal-Mart stores across the U.S. showed that approximately half are hiring only temp workers, a potentially cost-cutting hiring strategy that the corporation confirms.
Apple is considering introducing larger iPhones with 4.7-inch and 5.7-inch screens, as well as cheaper models that come in a variety of colors.


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Proofpoint’s Voice of the CISO 2021 report reveals two-thirds of global CISOs feel unprepared to cope with cyber attack
58% of survey respondents consider human error their organisation's biggest cyber vulnerability as hybrid workforce presents new challenges for cyber security teams.
Proofpoint, Inc. (NASDAQ: PFPT), a leading cyber security and compliance company, has released its inaugural 2021 Voice of the CISO report, which explores key challenges facing chief information security officers (CISOs) after an unprecedented 12 months.
Sixty-six percent of CISOs feel their organisation is unprepared to handle a cyber attack and 58% consider human error to be their biggest cyber vulnerability, proving the work-from-home model necessitated by the pandemic has tested CISOs like never before.
“I believe one reason for the 'unpreparedness' is the sheer diversity of attack paths. Organisations’ employees have an increased dependency on multiple digital platforms, third-parties and remote communication to drive business value and collaboration, and cyber criminals continue to adapt to capitalise on this, finding new and innovative attack mechanisms,” says Andrew Rose, Resident CISO, EMEA at Proofpoint. “This makes it much more difficult for CISOs to anticipate where the next threat may be coming from, yet they recognise that any successful attack could be catastrophic.
“Another associated influencer is simply the lack of preparation time.The CISO role is now so broad, covering so many aspects of a modern, digital organisation, that the CISO’s attention can be spread very thin, and they can feel the pressure of excessive expectations,” continues Rose.
The survey explores three key areas: the threat risk and types of cyber attacks CISOs combat daily, the levels of employee and organisational preparedness to face them, and the impact of supporting a hybrid workforce as businesses prepare to re-open their corporate offices. It also covers the challenges CISOs face in their roles, position among the C-suite, and business expectations of their teams.
Proofpoint’s Voice of the CISO 2021 report highlights general trends as well as regional differences among the global CISO community. Key global findings include:
- CISOs are on high alert across a range of threats: Faced with a relentless attack landscape, 64% of surveyed CISOs feel at risk of suffering a material cyber attack in the next 12 months. When asked about the types of attacks they expect to face, there was no clear answer, with diverse threats such as business e-mail compromise (34%), cloud account compromise (O365 or G-suite accounts being compromised, 33%), and insider threats (31%) topping the list. Despite dominating recent headlines, supply chain attacks came in fifth with 29% and ransomware seventh with 27%.
- Organisational cyber preparedness is still a major concern: More than a year on into a pandemic that forever changed the threat landscape, 66% of CISOs feel their organisation is unprepared to cope with a targeted cyber attack in 2021. Cyber risk is also on the rise: 53% of CISOs are more concerned about the repercussions of a cyber attack in 2021 than they were in 2020.
- User awareness doesn’t always lead to behavioural change: While more than half of survey respondents believe employees understand their role in protecting their organisation from cyber threats, 58% of global CISOs still consider human error to be their organisation's biggest cyber vulnerability. Global CISOs listed purposefully leaking data (criminal insider attack) and clicking malicious links or downloading compromised files as the most likely ways employees put their business at risk.
- Long-term hybrid work environments present a new challenge for CISOs: 58% of CISOs agree that remote working has made their organisation more vulnerable to targeted cyber attacks, with three in five revealing they had seen an increase in targeted attacks in the last 12 months.
- High risk, high reward likely to be a common cyber theme over the next two years: 63% of CISOs believe cyber crime will become even more profitable for attackers, while 60% believe that it will become riskier for cyber criminals.
- CISOs will adapt their cyber security strategy to stay ahead: Overall, the majority of global CISOs expect their cyber security budget to increase by 11% or more over the next two years, and two in three (65%) believe they will be able to better resist and recover from cyber attacks by 2023. Top three priorities across the board for global CISOs over the next two years are: enhancing core security controls (35%), supporting remote working (33%), as well as security awareness (32%) and security automation (32%).
- 2020 elevated the CISO role, as well as the expectations from the business: 57% of global CISOs agree that expectations on their function are excessive. The perceived lack of support from the boardroom persists, with only 25% of global CISOs strongly agreeing that their board sees eye-to-eye with them on issues of cyber security.
“2020 was undoubtedly a very profitable year for cyber criminals and they are more emboldened than ever in their quest to harm organisations around the world. Cyber criminals are upskilling, collaborating and becoming increasingly sophisticated in executing their attacks leading to the development of new techniques to compromise the security of organisations, even with advanced protection tools in place,” said Andrew Rose, Resident CISO, EMEA at Proofpoint.
“The attack surface in organisations also grows as their dependency upon technology, cloud and third-parties increases; however, it’s people who are the main attack surface as attackers primarily target employees via phishing e-mails. Despite this, most CISOs are hopeful in their outlook for the years ahead.”
This year’s Voice of the CISO report examines global third-party survey responses from more than 1 400 CISOs at mid to large organisations across different industries globally.
To download the 2021 Voice of the CISO report, please visit: https://www.proofpoint.com/uk/resources/white-papers/voice-of-the-ciso-report. For more information on Proofpoint’s unique approach to people-centric cyber security and compliance, please visit: https://www.proofpoint.com/uk/why-proofpoint.


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BOC and Sinopec have formed a joint venture to build a world-scale air separation plant in Shanghai. The facility will serve the Shanghai-area petrochemical industry, complementing a similar joint venture in Nanjing, China.
Lonza Chairman Sergio Marchionne says he will resign following his appointment as CEO of Italian auto producer Fiat. Marchionne joined Lonza in 1994 when it bought the Canadian packaging company he was working for. Last month, Lonza tapped Stefan Borgas as its new CEO.
DSM Biologics has signed an agreement with Genmab to produce commercial quantities of HuMax-CD4, an antibody Genmab is developing for the treatment of T-cell lymphoma. DSM will produce batches of the material in Groningen, the Netherlands.
Rhodia has expanded its capacity to produce the flavor and fragrance building block N,2,3-trimethyl-2-isopropylbutanamide by completing a second production stream in Annan, U.K.
Crompton Corp. has expanded capacity for alkylated diphenylamine antioxidants in Elmira, Ontario, for the third time in less than two years. The company says changing motor oil specifications have spurred strong demand for the product.
Givaudan is transferring flavor compounding from Barneveld, the Netherlands, to sites in Germany and Switzerland. Some 130 jobs will be cut in the move, set to be completed by the end of 2005. Barneveld will remain Givaudan's center for flavor ingredient production.


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The United States has “No Intention to Ban” Bitcoin or Cryptocurrency, Confirms Fed Chair
Jerome Powell did say that stablecoins are “outside the regulatory perimeter” and need to be regulated.
Federal Reserve Chairman Jerome Powell said this week that the US has no plans to ban cryptocurrencies.
On Thursday, during the Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response hearing, Powell was questioned by House Representative Ted Budd (R-N.C) about the chairman’s intention on cryptocurrencies and if he will take a similar approach as China which continues to strengthen their ban on crypto.
A long-time crypto proponent, Budd is also a member of the Congressional Blockchain Caucus.
Budd asked Powell if it was his “intention to ban or limit the use of cryptocurrencies like we’re seeing in China?” Powell had a simple “No” in response to that.
When Budd asked yet again if he had “no intention to ban them?” Powell responded with another round of,
“[I have] no intention to ban them.”
The Fed Chief further explained his previous comments on central bank digital currencies (CBDCs) and that once a digital dollar is established, “you wouldn’t need stablecoins.”
“They’re to some extent outside the regulatory perimeter, and it’s appropriate that they be regulated. Same activity, same regulation.”
During the two-hour-long hearing, Budd also asked about the state of inflation in the US, which Powell deflected, claiming that it is due to the repeated supply chain interruptions caused by the Government’s pandemic response.
Furthermore, the Fed’s hands are tied when it comes to inflation, and that inflation should go down in “the first half of next year,” Powell said.
Rep. Warren Davidson (R-Ohio), who is also a Congressional Blockchain Caucus member, commented on the lack of regulatory clarity surrounding digital assets.
Davidson asked Yellen to define digital assets for tax-accounting purposes, but Yellen deflected the question, saying the agency was in the process of issuing “detailed regulations that will answer that question.”


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Isis Mobile Wallet App Updated with Local Offers
Isis recently issued an update to its Android mobile wallet application and added several new features. Isis now works better with location data and can help the owner find offers and stores near them that accept Isis. The app also works more closely with the credit card issuer, which can notify users of special offers available only to them. The app has a new icon, as well. Isis Mobile Wallet is free to download from the Google Play Store, but requires a major credit card from select issuers to use for tap-and-go payments at participating retailers. Isis is a joint venture backed by AT&T, T-Mobile, and Verizon Wireless.
T-Mobile to Buy Layer3 TV and Launch TV Service Next Year
T-Mobile has set its sights on the cable TV industry and hopes to disrupt that market beginning next year. The company today announced plans to acquire Layer3 TV, which already delivers internet-based television service in five markets around the country.
Blu Life One X3 Adopts Metal-and-Glass Design and Packs 5,000mAh Battery
Blu Products today announced the Life One X3, a mid-range handset from the unlocked phone maker. The One X3 has a curved-edge glass screen and an aluminum frame painted in matte black.
Verizon's Moto Z2 Force Scores Android 8 Oreo Upgrade
Verizon Wireless today began rolling out the Android 8 Oreo system update to the Motorola Moto Z2 Force. In addition to the core Oreo features, including notification dots and picture-in-picture, the update makes improvements to productivity, performance, and notifications.
Google Unfolds A Brand New Wallet App for Android
Google today released a fully redesigned Google Wallet application for Android devices. Google Wallet is not an app for making mobile payments at retail.
Microsoft Wallet Gains Tap-to-Pay Functionality
Microsoft today updated its Microsoft Wallet app and gave Lumia smartphone owners the ability to make mobile payments at supporting retailers. Windows Mobile has long included a Wallet app, but until today it was reserved for loyalty cards and other retail programs.


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The PNA’s The Review newspaper is back in print for the first time in more than a year! If you live in Phinney Ridge or Greenwood or are a PNA member, watch your mailbox for the paper version, coming in the next week or so. Or, stop by the Phinney Center (weekdays, 9-5) to grab a copy.
A big thanks to all of the advertisers who help keep The Review up and running – in this online version, you’ll find that their ads are clickable through to their websites. Show our local businesses some love!
Read The Review online now:
Online flip book version


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Memories of a sweat-laden high school locker room were recalled by President Barack Obama as he toured Master Lock, a padlock and security product company, in Milwaukee on Feb. 15. During the visit, he praised Master Lock for shuttering its manufacturing operations in China and moving more jobs to America.
Master Lock said in a statement it had brought 100 union jobs back to America since mid-2010 and the decision was partially motivated by “increasingly higher labor and logistics costs in Asia, and further, ongoing labor availability challenges especially in the coastal areas of China.”
John Heppner, the company’s president and CEO, said more jobs would move back to America “should the underlying economics support the move.”
Terry Clower, director of the Center for Economic Development and Research at the University of Northern Texas, said there is a balance between global operations and creating jobs in the United States.
“You can’t make decisions purely on headline cost numbers. Just because you can go to certain countries overseas and get workers do a similar job for half the labor rate of what you would get here, it doesn’t mean that the total savings is that much,” Clower said.
There are many reasons and efficiencies that come into play when looking at the total costs, he said.
“It’s a good thing to have the jobs coming back,” he added.
Several other companies are expanding their manufacturing base in the United States, Caterpillar, a large construction and mining equipment manufacturer, has shifted its production of excavators from Japan to Athens, Ga. “The decision to shift production from Japan to the United States is driven by the proximity to a large base of customers in North America and Europe,” said Mary Bell, vice president of the company’s Building Construction Products (BCP) Division, in a statement. “Our objective is to better serve those customers from this new factory.”
Production is to begin in late 2013 and the facility will create more than 4,200 jobs, according to the statement.
The manufacturing operation is expected to boost the local and regional economy. “Based on the production capacity of the new plant, I estimate the total economic impact to reach $2.4 billion per year as key suppliers locate in the region and the regional supply chain matures,” said Dr. Sharon Younger, president of Younger Associates research firm and faculty member of the Economic Development Institute, in a statement.
Earlier this month, Japanese automaker Honda Motor Company announced a $98 million investment in its largest auto engine plant in Anna, Ohio. Honda has invested nearly $800 million in new operations in America since 2011. Honda’s investments are sustaining over 1,200 new jobs in Ohio, Alabama, and Indiana according to the White House.
Machine parts manufacturer, Diamond Precision Products, buys its components from local suppliers instead of China, saving money in shipping and increasing its ability to deliver orders quickly. The company was able to double its workforce in the past two years, and continues to grow, a White House statement said.
Durable goods manufacturing added most of the 50,000 job increase in the goods-producing sector in January, according to a Bureau of Labor Statistics report. “Durable goods manufacturing has added 418,000 jobs over the past two years,” the report said.
Obama is pushing several initiatives to shift overseas manufacturing jobs back to the United States. In his Blueprint for an America Built to Last plan he proposes a policy that ends tax deductions for shipping jobs overseas, and gives a 20 percent tax credit to “help companies bring jobs home.”
By closing tax loopholes, the administration expects the tax credits to be revenue-neutral, meaning they would not cost the government anything. The estimated savings from closing tax loopholes is $23 billion, according to a White House press release.
The president also said a Fair Trade Enforcement Unit, will be created to “investigate unfair trade practices in countries like China.”
“When we’ve got an even playing field, I promise you, nobody is going to out-compete America,” he said. “Give us a level playing field—we will not lose.”


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Aldi Ireland has banned the use of non-detectable black plastic trays across its entire fruit and vegetable range.
This move will see the supermarket giant save over 450 tonnes of non-recyclable waste annually.
The Irish-grown Specially Selected Tomatoes range was first to underdo packaging redesign after switching to cardboard.
The plastic trays are non-detectable as they are difficult for waste operator machinery to detect and need to be sorted by hand.
The initiative will see Aldi reducing the use of plastic packaging across all its 139 Irish stores.
Non-detectable black plastic trays, expanded polystyrene trays and PVC will all be removed from all Aldi own-brand product packaging by the end of 2020.
Seamus Clancy, CEO of Repak said: “The Irish public have woken up to the damage that plastics are doing to our environment, so it’s great to see Repak Member and Plastic Pledge signatory Aldi demonstrating its commitment to the environment by reducing the amount of packaging and difficult-to-recycle plastics in its stores.
“While black plastic trays are accepted in the household recycling bin, they are difficult for waste operator machinery to detect, so need to be sorted by hand.
“We welcome this move from Aldi and its other efforts to reduce waste and improve Ireland’s recycling rates.”
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