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Zam.com is changing!Oct 9th, 2015 at 12:50 PM by lmichet
Hey guys! My name is Laura Michet, and I’m the new editor at Zam.com. Over the next few months, you’ll be seeing some major changes here. We’ll be posting new kinds of stories about a wider variety of games. I'd like to tell you about myself, about those changes, and about how you can contribute!
RIFT: Planetouched Wilds PreviewOct 7th, 2015 at 5:45 PM by MattstaNinja
The Planetouched Wilds will open for players to explore in the next big content update coming to RIFT today, October 7. While Trion Worlds is not labeling the update as an expansion, its contents—a large zone, an expert dungeon, a new raid tier launching sometime after Planetouched Wilds, a new warfront and an all new calling—certainly make it feel like one.
Wise Words from a Twitch PartnerOct 2nd, 2015 at 12:00 PM by WonderfunkJones
Twitch.tv is still new to a lot of people, but it's grown big enough in recent years to support its own convention at San Francisco's Moscone center. ZAM had the rare-but-cherished chance to sit down with a Twitch partner known as Miss Molly Lolly. She shared some insights about TwitchCon, the new convention, and what it takes to be a streamer.
Daybreak Games Celebrates Halloween!Oct 1st, 2015 at 6:00 PM by Aaikan
(From Everquest Community News)
Ghosts and goblins, pumpkins and poltergeists, bats and broomsticks… it’s Halloween time here at Daybreak! We’ve got special themed in-game activities, new Marketplace treats, and a chance to win some Daybreak Cash – no tricks!
New Daybreak game cards will be hitting the shelves of U.S. retailers this month, and we want to give some away! We’ll randomly select ten (10) winners to each receive a $25 Daybreak Cash Card. Here’s what you need to do:


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The afterglow of Liverpool’s River of Light is burning bright with the event once again boosting the local economy.
Across 17 nights, more than 250,000 people – a record number to visit the trail – headed to the city centre to enjoy the free outdoor trail which was organised by Liverpool City Council’s award-winning Culture Liverpool team.
Each evening, thousands of people travelled the 2km-long route, enjoying ten large-scale artworks – a mix of world premiere commissions alongside pieces not showcased in Liverpool before. Running from 21 October until 6 November, the theme Unexpected Twist played homage to the hugely successful World Gymnastics Championships 2022 which were taking place in the city at the same time.
And River of Light’s popularity was felt across the city centre with footfall up, and restaurants, bars and shops reporting a boost in sales.
Liverpool ONE found that post 5pm (when the event started) they saw a 27 per cent increase in footfall compared to 2021, and in the same timescale, their stores were boosted by an additional 6 per cent. In the period River of Light was on, they welcomed 1.7million visitors to their stores, and overall sales were up at least 5 per cent. Data is still being processed so this figure could increase.
Liverpool ONE says the October half-term week was the busiest week of the year to date. In comparison to 2019 pre-pandemic figures, footfall was up 4 per cent. Post 5pm footfall was up 89 per cent during the half-term week, with retail store visits up 37 per cent and restaurant visits up 35 per cent.
Liverpool BID Company reported a significant increase in Church Street footfall day-on-day in comparison with 2019 – with the October event dates proving to be the busiest. Week days experienced an increase of nearly 70 per cent and at weekends it was up by 42 per cent.
Royal Albert Dock Liverpool also welcomed the additional evening visitors with many businesses located on the estate, noting a boost in sales.
And it wasn’t just the retail sector which benefitted from the event. There has been overwhelmingly positive feedback from the local, national and international artists involved in this year’s River of Light trail, with many praising the Liverpool audience, the response to their work and the warm welcome they received here.
A full impact report, which will include feedback from visitors, will now be compiled and the final figures will be released in the new year.
To see a gallery of images from River of Light 2022, visit www.visitliverpool.com/riveroflight.
Anyone who explored the trail is encouraged to fill in the online survey to provide the team with feedback which will help shape future events. The survey can be found here.
River Of Light was delivered by Liverpool City Council’s Culture Liverpool team and was supported by Arts Council England.
To find out more about Culture Liverpool and to find out more about cultural events in the city, head to the official website.
Assistant Mayor and Cabinet Member for Culture and Visitor Economy, Councillor Harry Doyle, said:
“River of Light is a beautiful, established tradition in this city and it’s wonderful to see the event go from strength to strength each year. I always try to visit this event as a punter, and I loved my experience this year. Each night was busy and the atmosphere was amazing – seeing families with their dogs and groups of friends of all ages making the most of this free showcase and trying to get the best selfie they could at each installation. And what a selfie-backdrop those installations provided!
“I’m delighted, but not surprised, by these initial figures and I look forward to seeing the full impact report in due course.“
Raj Sharma, manager at Liverpool ONE’s Smoke & Dough, said:
“River of Light has been very positive, a great addition during half term. We’ve definitely seen an uplift in sales and walk-ins.”
Chris Snowdon, manager at Liverpool ONE’s TGI Fridays, said:
“River of Light has definitely had a positive impact and sales have increased especially in the evenings when footfall has been noticeably higher.”
Kath Caldwell owner of The Nest, an independent retailer at Royal Albert Dock, said:
“We experienced increased footfall and increased sales. It also positions Royal Albert Dock at the heart of a major cultural event which is incredibly important for my business.”
Abram Santa Cruz, the artist responsible for Electric Dandelions on the Pier Head, said:
“Having the Electric Dandelions in the River of Light show in Liverpool has been a dream come true. It was an honour to be invited to have our work displayed in such a beautiful city and working with Culture Liverpool has been such a treat. Everyone has been a pleasure to work with.”
Gemma Davis, an artist from illumaphonium, responsible for Continuum, the mirrored artwork at the Pier Head, said:
“It has been an absolute joy to exhibit as a part of River of Light this year. At illumaphonium we believe that the artwork is only ever the beginning, the real magic happens in the collaboration between the artwork, the audience and the environment we exhibit within. Continuum at its very core is an artwork that reflects back to us what we give it, and wow! Liverpool did not disappoint. From the magnificent site, to the marvellous folk that have visited the artwork, your incredible city put the finishing touches on this new piece – and we can thank you all enough.”
Bill Addy, CEO of Liverpool BID Company and Chair of LVEN, Liverpool Visitor Economy Network, said:
“Public art and animation is such an important ingredient in our everyday life in Liverpool city centre. River of Light helps to attract so many visitors to the city, engaging with beautiful art and everything the city centre has to offer.
“For our businesses it helps to showcase the mixed economy that makes Liverpool so vibrant. There’s something for everyone and when we increase footfall numbers and give everyone something to smile about and enjoy it has a positive impact on our economy as well.”
Sean Morrison, Estate Manager for Royal Albert Dock said:
“It was great to see so many people enjoying River of Light this year. It’s always a highlight for visitors to the dock at half term.”
For more Liverpool City Region events and attractions head over to visitliverpool.com

domain: news


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TOPEKA – The Shawnee County District Court has approved a settlement resolving a lawsuit that challenged a Kansas law regulating the advertisement of raw milk, Attorney General Derek Schmidt and Agriculture Secretary Mike Beam said today.
District Judge Richard Anderson today approved the consent judgment ending the litigation over Kansas’ ban on the advertising of raw milk or raw milk products other than by a sign on the premises of a dairy farm. The lawsuit, together with the settlement, was filed October 28 against Beam in his official capacity as head of the Department of Agriculture by Mark and Coraleen Bunner, operators of Shepherd’s Gate Dairy, LLC, near Pfeifer. On September 9, the plaintiffs had threatened litigation unless the Department agreed not to enforce the provision.
Under the terms of the settlement, the parties agree the advertising ban violates the First and Fourteenth Amendments to the U.S. Constitution and the Kansas Constitution Bill of Rights Section 11 and is therefore unenforceable. The statute was enacted in 1967, before the U.S. Supreme Court interpreted the First Amendment to protect commercial speech in the manner it does today.
“The statute restricting advertising of raw milk does not comply with the U.S. Supreme Court’s modern application of the First Amendment to commercial speech and is plainly unconstitutional,” Schmidt said. “While we typically provide a rigorous defense for every statute enacted by the Legislature, in this case where there exists no plausible legal defense the better and less-costly course of action is for the Department of Agriculture to work with the Legislature to modify the statute so it complies with the U.S. Constitution.”
The Department of Agriculture intends to propose legislation next year regarding the uniform labeling of raw milk products, which would address the constitutionally defective regulation of advertising at issue in this case.
“We look forward to the opportunity to clarify this statute and remove the unconstitutional restriction on advertisement of raw milk,” Beam said. “The on-farm sale of raw, unpasteurized milk continues to be the only allowable method of distribution for raw milk, as a means of protecting public health and safety due to the high degree of risk associated with unpasteurized dairy products.”
The statute in question is currently codified at K.S.A. 65-771(cc). The specific provision in question, which dates back to 1967, reads: “…so long as the person making such sales does not promote the sale of milk or milk products to the public in any manner other than by the erection of a sign upon the premises of the dairy farm.” The statute makes violation of the advertising prohibition a misdemeanor.
Source: Office of Kansas Attorney General


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CEM REPORT, FINANCE | Guaranty Trust Holding Plc has recorded an increase to 972 million volumes of USSD transactions in 2022, a one per cent increase from 966.9 million recorded in 2021.
This is as the volume of mobile banking transactions hits 490.6 million in 2022, a growth of 18 per cent from 414.1 million reported in 2021.
According to GTCO’s financial year statement for 2022, the Holdco, recorded N32.8 trillion in mobile banking transactions, an increase of 28 per cent from N25.6trillion in 2021
“Increased adoption of electronic banking platforms with strong growth in both volume and value of Mobile Banking.
“28 per cent year-on-year growth in Mobile Banking value grew from N25.8 trillion in 2021 to N32.8 trillion in 2022 on the back of an 18 per cent increase in volume from N414.1 million to N490.6 million from new users on the platforms.”
Explaining the decline in USSD transactions and the rise in mobile banking, the Holdco attributed the decline to the introduction of two-factor authentication and the impact of the N6.98 flat fee that weighed negatively on the volumes and values of transactions consummated using USSD.
The financial institution added that customers switched to GTWorld to consummate their NIBSS Instant Payments (NIP) and other electronic payments.
These figures further show that more Nigerians are tilting towards cashless means of transacting. However with several failed transactions during the cash crunch, not so many may remain on the trend on the cashless trend.
It is fair to say that the banking industry has improved on its system but the system still requires overhauling according to experts at the Continental Economy Round Table discuss on the Evaluation of Nigeria’s Electronic Transfer System.
The Group Chief Executive Officer, GTCO, Segun Agbaje, in a statement, said, “Our ability to successfully navigate the peculiar challenges in the different markets where we operate underscores our strong business fundamentals and unwavering commitment to sound business strategies.
“Despite the varying challenges and headwinds that weighed on growth in 2022, we were determined to deliver a decent performance and scale effectively to strengthen our competitive edge and drive long-term growth.”
The Group announced N23.2 billion income from electronic -banking transactions in 2022 from N21.08 billion in 2021, while commission on touch points dropped to N2.25 billion in 2022 from N2.48 billion reported in 2021.
However, the report added that transactions on internet banking dropped by six per cent to N2.62 trillion in 2022 from N2.78trillion in 2021, as the volume of internet banking significantly dropped to 8.8 million, 20 per cent below 11.1 million reported in 2021.
“The value of Internet Banking transactions declined but remained strong at N2.62 trillion.”


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"Compared to August 2013, the average consumer price level in August 2014, rose by 0.8%. Prices of goods decreased by 0.1%, while prices of services grew by 3.2%," said the CSB.
"Compared to the previous 12 months, the average consumer price level over the last 12 months increased by 0.3%," it added.
"The greatest pressure on the average level of consumer prices in August 2014, as compared to August 2013, was put by the increase in prices of services related to housing, hotel and restaurant services, alcoholic beverages and tobacco, recreational and cultural goods and activities, as well as by the price drop of transport goods and services."
In a commentary on the data, Swedbank said: "One of the reasons for very weak inflation is commodity price developments globally. Since price data are collected in the middle of month, it cannot be seen in August CPI data; however, prices of fruits and vegetables, as well as dairy products have already been reduced somewhat in major retailer chains.
"At the same time growing labour costs are gradually causing prices of services to go up. In August, prices of goods were by 0.1% lower than a year ago, while prices of services were 3.2% higher. Another factor that will push imported prices upwards is gradual weakening of the euro (directly influencing, e.g., fuel and gas prices).
"We forecast that average consumer price growth will be at 0.8% this year," Swedbank concluded.


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Samsung Z3 leaks out in live renders
Earlier this year, Samsung Electronics disclosed that we should look forward to more Tizen handsets. It appears the Korean phone maker is not ready for any jokes as an industry report cites that a new Samsung Tizen-running smartphone is almost complete and could be released at any time.
Sporting a dual SIM slot (checkout the first screenshot) and running on Tizen OS 3.0, the Samsung Z3 leaked out in pictures for the first time even though we’ve heard about the phone’s specs before.
According to the earlier gist, the Z3 could be packing a 5-inch display whereby the resolution, much like most of the other details, is still mystery. Under the hood, you’ll find a Qualcomm Snapdragon 410 chipset clubbed with 1GB of RAM and 8GB of internal storage.
The upcoming smartphone will allegedly feature a 5MP rear camera as well as a 2MP frontal selfie camera — all backed by a 2,000mAh battery.
Finally, the device’s debut is very nearby according to sources.
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Panic at Apple after iPhone Xs didn’t sell quite as much as manufacturer wanted – Source


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By Venus Tamturk. Originally published in Gustavson’s 2019 Year in Review.
When Tesla Motors was first included in the Gustavson Brand Trust Index in 2016, the electric automaker was rated 11th by consumers in overall brand trust. In the 2019 Index, Tesla sits at 138th of over 300 brands measured. What caused the automaker that set out to revolutionize an industry to take such a precipitous tumble in consumer perceptions?
Tesla’s mission to “accelerate the world’s transition to sustainable energy” appealed to many people regardless of income level, but especially to respondents under 35, according to our survey. With a charismatic CEO and a transformational vision, the company represented a highly trusted brand despite a price point that was, for many, so high that they had no first-hand experience with the product.
Since this inaugural appearance on the Gustavson Brand Trust Index, several things have happened: the company missed production targets on its Model 3; their cars made headlines by spontaneously bursting into flame; and CEO Elon Musk spawned several lawsuits with his unfiltered, controversial tweets and statements. Our index shows an erosion of trust in how the brand communicates with consumers and the functionality of the product.
It is perhaps not surprising, therefore, that Tesla’s score on the “honest communication” question in the Gustavson Brand Trust Index started at ninth in 2016 and hit 172nd in 2019. Despite the overall plummet across all categories of trustworthiness, consumers continue to rank the brand on top across all industries on “eco-friendliness” and “innovation.”
The Tesla case illustrates that while the market is evolving from a product-based economy to a values-based one, there is still no trade-off between functionality and sustainability. For an organization to be trusted and seen as credible in its social and sustainability mission, it must first ensure the quality and competitiveness of its product and customer experience.
Ranked tenth on values-based trust, Tesla remains one of the most exciting brands to watch in the 2020 edition of the Gustavson Brand Trust Index. We will see whether or not they have been able to repair their reputation more broadly.
Photo: Michael Olsen on Unsplash.


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Export volume of Basmati to Iran has dipped
Gurnam Arora, Joint Managing Director, JMD – Kohinoor Foods Ltd, states that the Government of India should institute a system whereby payment transactions between India & Iran can be entertained in any internationally free trade currency. Alternatively, there should be a 3rd Party payment mechanism which would help Indian exporters to secure their long overdue remittances.
IBT: What role does Iran play as a market for you? How do you view the potential of the market?
Gurnam Arora : For Basmati rice, Iran has been a prominent market and accounted for 34% share in the exports from India in 2018-19. In quantity terms Iran imported 14.83 lakh tonnes of basmati rice in 2018-19, which came down marginally in 2019-20 to 13.19 lakh tonnes (30% share). But during the period April-October 2020, the export volume to Iran has been a mere 4.43 lakh tonnes out of a total export of 27.44 lakh tonnes, reflecting a phenomenal dip in share to 16%.
Iranians prefer Indian Basmati rice to any other rice. Discounting for the problems that persist in export of Basmati rice to Iran, I would say that there is tremendous potential and the export could grow up to 20 lakh tonnes over the next three years. This is because if we look at year on year growth since the export to Iran has grown at a CAGR of 14% over 5 years from 2015-16. Thus the importance of Iran as a market for Indian basmati rice with high potential cannot be over-emphasized.
IBT: How has the imposition of sanctions on Iran by the US affected trade with your Iranian clients?
Gurnam Arora : The genesis of the current set of problems in trade of Basmati rice with Iran is a result of the imposition of sanctions on Iran by US. Because of these issues, India has not been able to import crude oil from Iran since May 2019. Both countries have an agreement to transact business in Rupee terms and accruals from oil imports would be utilized for remittances against export of Basmati rice apart from other non-sanctioned essential items.
IBT: Why is the Rupee-Rial payment mechanism not helpful in retrieving payments from Iran?
Gurnam Arora : As mentioned, both countries have an agreement regarding trade in Indian Rupees and the system has been functioning very well since its inception. It has been suggested to the Government of India to institute a system whereby payment transactions can be entertained in any internationally free trade currency.
As an alternative we have been suggesting the implementation of 3rd Party payment mechanism which would help Indian Exporters to secure their long overdue remittances against stuck up cargo at Iranian ports which amounts to around INR 1750 crore approximately.
IBT: What challenges are you facing in routing payments through other countries?
Gurnam Arora : The present system is bound by the mutual agreement between the two countries under which only rupee payments are the accepted norm. The Government of India has nominated UCO Bank and IDBI Bank for handling transactions.
Today the situation has come to a pass where remittances are not forthcoming from Iran because the Central Bank of Iran is not issuing currency allocations to local Iranian rice importers. Because of this large number of consignments have got stuck at Iranian ports for last several months and the funds of exporters are blocked. This has created an uncertainty because of which exporters are constrained to withhold further shipments for the time being.
IBT: How can the Government of India/banks step in to resolve this issue?
Gurnam Arora : The present crisis, as mentioned earlier, is aggravated by two factors: (a) There is accepted rupee payment norm through the two nominated Indian Banks and from Iranian side Central Bank of Iran (b) Due to non import of crude oil from Iran, the accumulations in the two Indian Banks have depleted to a drastically low level and cannot take care of the volume of Basmati trade.
From trade side, the only solutions that can be foreseen are, I reiterate, that either third party payment mechanism is instituted or the mutual agreement is immediately amended to incorporate a mechanism for payment in any internationally freely traded currently. But for the moment we are keeping our fingers crossed till a workable solution emerges.
Gurnam Arora, Joint Managing Director of Kohinoor Foods Limited, is widely acknowledged for changing the way people look at commodity business. A Graduate in Business Management from Amritsar University, not only did he made ‘Kohinoor’, the most trusted & preferred brand in the industry, but also gave the Basmati Rice industry a line of innovations like convenient packaging options and many more value additions for universal consumers that most of the companies today follow.
Single minded in his zeal, Mr. Gurnam Arora is also a member of the Basmati Development Fund, APEDA, Indo American Chamber and Ministry of Commerce and has officiated earlier as the President of All India Rice Exporters Association. He is also a part of various industry associations like FICCI, ASSOCHAM, to name a few. Recently, he was also awarded as “Corporate Leader of the Year” among selected few at the PowerBrands Hall of Fame Awards in London.
With a keen interest in brand, in the current capacity, Mr. Arora takes care of Kohinoor’s brand development in all the 65 countries where the brand is presently available.


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Yuga Labs vs OpenSea – NFT Royalties Drama
Yuga Labs, the creators of Bored Ape Yacht Club (BAYC), are planning to reduce their support for OpenSea due to the platform’s decision to remove its royalty enforcement tool called Operator Filter. This tool was launched in November 2022 to allow creators to limit NFT sales to platforms that enforce creator royalties, excluding platforms like Blur.
However, on August 17, OpenSea announced that it would discontinue the Operator Filter by the end of August. The reason cited was the lack of widespread adoption, platforms bypassing the tool, and opposition from creators.
In response, Yuga Labs’ CEO, Daniel Alegre, shared through a statement on X (formerly Twitter) that the company would gradually phase out the use of OpenSea’s Seaport marketplace smart contract. The aim is to complete this process by February 2024 in alignment with OpenSea’s approach. Alegre emphasized Yuga Labs’ commitment to protecting creator royalties to ensure fair compensation.
The BAYC community responded positively to this decision, and well-known figures in the NFT space like EllioTrades and Alex Becker also expressed support. Other NFT project founders, including Luca Netz from Pudgy Penguins NFT project, hinted at following Yuga Labs’ lead.
The topic of creator royalties has divided the NFT community. While enforcing royalties was common practice during the early stages of the NFT boom in 2021, platforms like Blur gained popularity in 2022 by offering zero trading fees and an optional creator royalty model. This competition led to decreased trading fees and royalty percentages across various platforms.
The NFT community currently consists of two main factions: those in favor of cheaper NFT trading models like Blur’s, arguing for alternative creator compensation methods, and those who strongly advocate for maintaining royalty payments.


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Islamabad: Capital Development Authority (CDA) on day four of the auction has raised a total of Rs5.981 billion from the sale of 15 commercial plots.
Generating revenue of Rs1.024 billion from auctioning 25 residential plots in Islamabad on day one, Rs230 million from the sale of 13 residential plots on day two, Rs4.048 billion from eight commercial plots on day three and Rs5.981 billion from day four, CDA has raised a record revenue of Rs11.284 billion in the four-day auction.
Being the second auction for this fiscal year, CDA has cumulatively raised Rs18.76 billion which is nearly half of its entire budget for the financial year.
Income from the auction will be used for new development projects in the Capital, including the ones in progress, said CDA Chairman Amir Ali Ahmed.
The auction proceedings were successfully supervised by an auction committee headed by CDA’s finance member.
For news and updates keep on visiting Graana blog


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MJ Biz has just reported.
Joe Caltabiano, the co-founder of multistate marijuana operator Cresco Labs, on Monday announced he has resigned as president of the Chicago-based company, becoming the second high-profile founder to step down from a top post in less than a week.
Caltabiano will continue to serve on the board of Cresco, one of the largest vertically integrated marijuana companies in the U.S.
“As the founder who brought the initial idea of entering into the regulated cannabis industry to the original Cresco team in 2013, this day is bittersweet,” Caltabiano noted in a statement.
Caltabiano, who co-founded Cresco Labs in 2013, didn’t give many details why he is stepping down, other than to say in a statement “as a serial entrepreneur, I know it’s time for the next challenge.”


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By Anna Rose Welch, Editorial & Community Director, Advancing RNA
It feels as though I’ve spent the past few weeks pre-and post-holidays living simultaneously within the biosimilar past, present, and future. As you may have already read, I published my 2020 Top 5 Biosimilar Developments article (always an industry favorite). This article appeared in parallel with another top performing series — the 2021 outlook series — showcasing the Biosimilar Development editorial board’s thoughts on the most celebrated past milestones and their expectations for the future. That’s why it only makes sense to put a bow on all this reflection with one final forward-looking article exploring the “Biosimilar Company of the Future.”
Since Biosimilar Development launched in 2015, there have been an unfathomable number of evolutions, and the biosimilar business model has been no exception. Many of the primarily pureplay companies I spoke to in the early days of this publication no longer exist in the biosimilars realm — or at all — today. If you look at the current market breakdown of active competitors, it’s almost exclusively dominated by a few large Big Pharma/Big Generic players.
But that business model is potentially taking a new shape for the future. In the upcoming years, there will be a more economically diverse pipeline of biologics approaching the patent cliff. Similarly, companies are more carefully selecting their target markets and refining their overall product selection and commercialization strategies to best fit those markets. Stepping back into the spotlight are what I’ve (affectionately) termed “the dreamers” — the small and mid-sized companies — creating differentiation strategies for themselves while also reducing cost of goods to better compete against non-blockbuster biologics and other, larger biosimilar companies.
As we watch and wait to see if their efforts take root, we’re once more questioning the future makeup of the biosimilar market. In the next five to 10 years, what will define a leader in the biosimilar space? Which skills will be the most important to long-term growth in the biosimilar space, and what do companies need to be considering today to remain at the forefront of this crucial industry? I could think of no better person to address these questions than McKinsey & Company Partner, Jorge Santos da Silva. During our conversation, five specific best practices emerged for any company looking to be — or remain — a leader in the biosimilar space.
How To Build The Biosimilar Company Of The Future
- Be Fast
When I asked da Silva what characteristic comes to mind first when I say “biosimilar company of the future,” he emphasized the word fast. This term obviously can be applied to many different aspects of the biosimilar business. However, first and foremost da Silva singled out that efficiently developing and manufacturing biosimilars will be a central factor in gaining market share.
Though the biosimilar competitive market is quite different from the small molecule generics space in terms of pricing, the market patterns we’re observing today are highly similar (pun intended). So far, the first two to three biosimilar players to market are experiencing the greatest commercial success. Not to mention, as one analyst shared last fall, the sweet spot for launching after the first-to-market biosimilar and garnering market share seems to be five months or less. That doesn’t leave biosimilar companies a whole lot of wiggle-room.
“The time to market capabilities in a biosimilar company are critical,” da Silva explained. “Within the current development paradigm, any company that can design a slightly smarter Phase 3 clinical trial and/or that can more efficiently enter Phase 1 trials will be better equipped to lead a product onto the market.”
In addition to developing fast, da Silva called out the ability to lead fast. To garner sufficient market share in any country, a company must know the different sites of care and stakeholders well, including their motivations and pain points. This has been clearly observed in the successes and failures we’ve observed in the immunology and oncology therapeutic areas unfolding in the U.S. While many of the biosimilar commercial leaders today are larger companies, we have seen one smaller company gain a leading edge in the pegfilgrastim market because of its ability to meet the needs of the channels/stakeholders overlooked by other competitors.
Targeting these channels also requires a sophisticated knowledge of competition in this space. “Arriving on the market early is one thing; but understanding the complexity of the channel and the different sales models is key,” he added. “It’s also important for players — especially those that may be later arrivals to the market — to realize that the key to success is not offering a significant discount to sway the market toward your product. This isn’t the generic model; you need a sales model to support it.” In fact, we’ve also seen that having well-established site of care support programs (e.g., biosimilar benefits verification) can be a boon for a biosimilar’s uptake.
- Establish A System Of Care
Success in the biosimilar space will not just depend upon being one of the first to market, but also on a company’s ability to establish what da Silva calls a “system of care.” To do so, companies may have to acquaint themselves with setting more targeted market intentions, at least to start. This may mean tackling a small handful of states or countries to build the case for their product(s) and then scaling out from there. In addition, companies and their leadership will also need to establish a more holistic approach to key account management as opposed to managing the stakeholder communities or sites of care separately. For example, da Silva pointed to integrated delivery networks which, because of their integrated nature, inherently require working across the board with physicians, patients, pharmacists, and the contracting teams.
Because of their work engaging all necessary stakeholders in the biosimilar conversation today, a biosimilar company is in a great position to play the role of facilitator in creating an integrated system of care. Though the Kaiser Permanente-like IDNs of the U.S. have been upheld as the ideal models of biosimilar uptake, access, and savings, the conversation has shifted in recent years to how manufacturers, non-IDN sites of care, and local payers can work together to create systems aligned around the common goal of increasing biosimilar usage.
- Invest In Remote Engagement
It goes without saying that the pandemic has improved companies’ remote communication capabilities. There are innumerable discussions about how many of those technological capabilities will remain commonplace in post-pandemic society. In the biologics and biosimilars space in particular, companies should be keeping their eyes on specialty physician communication preferences moving forward. As da Silva offered, we may see that specialists are more inclined to keep their relationships with pharma companies digital.
Overall, it will behoove biosimilar companies to pursue and scale-up new models of engagement to reach medical professionals and market access stakeholders. The biosimilar world knows just how important it is to promote and engage in scientifically accurate discussions with all stakeholders to increase awareness of and trust in biosimilars. Having the digital capabilities to carry out and expand these discussions can also be an important way for companies to better control their marketing costs and, in turn, overall profitability.
- Build Fast & Embrace Your Strengths
In addition to developing quickly and leading nimbly, da Silva singled out one other area he feels deserves alacrity — and that’s developing the capabilities to build fast and bring new products into the pipeline. Even as discounts on the product(s) increase over time, a biosimilar company can continually be adding to the business, scaling the development team, and improving manufacturing, da Silva explained.
The companies entering the biosimilar space over the past few years (and today) can be broken down into three archetypes. Many of the leaders today comprise the Big Pharma companies tackling both innovative and biosimilar development, which da Silva identifies as “the commercializers.” But as the industry becomes more stable, we’ve also seen the emergence of smaller companies — or “the developers”— which typically outsource a bulk of the early stage PK/PD package, clinical stage manufacturing, and the Phase 1 trial for their product(s). Finally, there are a number of companies boasting localized or geographic-specific business models (i.e., exclusively producing for an emerging market).
How each of these models evolves will obviously be dependent on the size and breadth of their resources. Many of the larger companies will likely boast large pipelines developed both in-house and through acquisitions. The smaller company model may keep itself going in the long-term by selling assets or striking up royalty-producing licensing deals to help feed both novel and biosimilar future pipeline investments. There are also opportunities for mid-size developers to make the decision to buy into the biosimilar space by purchasing a development engine or acquiring specific products that fit well into the product lineup.
Ultimately, the best way companies can create the most value for the biosimilar space is to embrace what they do best, whether that be developing the early stage assets, being a market access partner, or building/operating a full-scale development and commercialization engine.
- Don’t Underestimate The Market Potential For Smaller Revenue Products
It’s becoming a well-known fact that the biologics facing patent expirations in upcoming years are (to some extent) a more diverse bunch in terms of annual sales. While there are certainly high-earning blockbusters that will likely draw a larger swath of developers, there are even more products making less than a billion per year in annual sales. In fact, a huge number of products that could use biosimilar competitors bring in less than $100 million a year. To many in the biosimilar industry, this poses a concern about a biosimilar’s return of investment — especially given the current need for large-scale comparability trials and, in turn, the seven to 10 year-long development timeline.
But should the industry be as worried as it is about pursuing some of these less lucrative — but still critical — biologic products? Da Silva emphasizes making sure you’re looking at the opportunity through the proper lens and in the right context.
“Current predictions and market sales don’t encapsulate the diseases that haven’t emerged yet and the first-second-third-line treatments we haven’t invented yet,” he offered. These estimates and concerns about cost of goods also assume a static state to the regulatory requirements for biosimilars in the long-term. While many in the industry will tell you the move to tailored biosimilar development is not happening quickly enough, the amount of scholarship and ongoing discussion between industry and regulatory agencies does promise movement in the future. This would be a significant reduction in development costs, which serves as a pressure release for companies concerned about investing in products with smaller market potential.
Secondly, as we learn more about the longer-term competitive dynamics (i.e., the number of biosimilar players a single market can truly sustain), the more selective companies likely will be or will need to be about certain products. “If the industry should come to realize that it doesn’t make sense to enter a market as the fourth, fifth, or sixth competitor, for example, biosimilar companies may choose to gravitate away from originators that are expected to or already have a certain number of candidates approved and marketed,” da Silva qualified. Similarly, choosing products with a smaller number of potential competitors could have its benefits. Sharing the market with the originator and either one or no other biosimilar products guarantees a bigger slice of a larger pie — as long as a company has the appropriate partnership and-or in-house knowledge to successfully commercialize the product.
“Maybe $3 billion is the next $17 billion for the biosimilar world, especially if companies choose candidates with fewer competitors in pursuit,” da Silva concluded.


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After teasing the store last month, Apple has confirmed on its website (as noted by MacMagazine) that the store will launch on the 15th of February, in just over a week. The store will launch at 11am local time (ATZ) in the luxurious Rio de Janeiro VillageMall, marking Apple’s debut entrance into the country.
Update: Apple says iBooks Textbooks are available in all countries with a paid iBooks store and that a full updated list of countries with access to iTunes U Course Manager can be found on its enrollment website.
Apple just put out a press release announcing that it’s expanding availability of its educational content– iBooks Textbooks and the iTunes U Course Manager– into new international markets. Starting today, both of the services are rolling out to new countries in Asia, Latin America, and Europe, bringing the total number of countries with textbooks up to 51 and the total number with access to the iTunes U Course Manager to 70. Apple also shared some stats on the growth of iBooks Textbooks, which now cover 100 percent of the US high school core curriculum: Read more
Apple currently plans to expand its retail store presence to Rio de Janeiro, Brazil early next year, according to information provided by a source. This person says that Apple is targeting a store opening between February and March 2014, but delays due to construction and staffing are always possible.
Approximately one year ago, Apple confirmed to various media outlets in Brazil that it is planning to open a store in the country. However, Apple has remained mum on when this store would open. “We look forward to the opening of the first Apple Store in Brazil, where we have long standing customers and hope to win many more each day,” the company said last year…
Bloomberg is reporting that Apple is planning its first new store in Tokyo since 2005.
Apple plans to open a store in Tokyo’s upscale Omotesando shopping district as early as March, according to a person familiar with the plans.
Construction is scheduled to be completed by February, the person said, asking not to be identified because they aren’t authorized to speak for Apple.
Tokyo is noted for its high land values. Bloomberg estimating the cost of the land at around $164M with the finished store expected to be worth a staggering $256M … Read more
Apple plans to launch the iBookstore in Brazil ahead of its media event tomorrow, according to a new report by BlogDoiPhone (translated).
The store is not currently live (update below), but screenshots of its existence are above and below. BlogDoiPhone noted a few books have begun to appear in Brazilian Portuguese when doing a search. “The Hitchhiker’s Guide to the Galaxy” by Douglas Adams, for instance, now has a live link.
Many rumors indicate Apple will have a strong focus on education at its media event tomorrow, and recent leaks on iBooks 3.0, coupled with today’s news about the iBookstore rolling out to Brazil, seems to back those reports.
Following audits and a major overhaul of workers’ rights at Foxconn factories in China, a report from newspaper Jornal de Jundiai (via Evertiq) claimed 2,500 workers at a Foxconn plant in Jundiai, Brazil are threatening to strike if the company does not meet their demands by May 3. The plant in Jundiai is currently responsible for the assembly of some of Apple’s iPhone 4 and iPad 2 units:
Newspaper Jornal de Jundiai reports that workers at the plant will strike if issues surrounding severe water shortages, food, and transportation of employees are not resolved… In a statement the United Steelworkers of Jundiaí and Region said workers decided to give 10 days (from the Monday) for the company to resolve the issues raised in a meeting on Monday… According to the report by Jornal de Jundiai, a spokesman from the union said that lack of water as well as poor quality food was an issue for workers. As the number of employees at the plant grows, workers also complain that the infrastructure for transport has remained the same size, causing overcrowding in buses. Read more


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By David Shepardson
WASHINGTON (Reuters) -The U.S. National Highway Traffic Safety Administration (NHTSA) stated it is checking out a customer report that a Tesla (NASDAQ:) Model Y was associated with a mishap while utilizing the business’s Full Self-Driving (FSD) Beta software application.
The owner of a 2021 Tesla Model Y reported to the car security firm that on Nov. 3 in Brea, California the lorry remained in FSD Beta mode “and while taking a left turn the car went into the wrong lane and I was hit by another driver in the lane next to my lane.”
The automobile “gave an alert half way through the turn” and the motorist attempted to presume control “but the car by itself took control and forced itself into the incorrect lane,” the report states. The automobile was badly harmed on the motorist side, the owner included.
“NHTSA is aware of the consumer complaint in question and is in communication with the manufacturer to gather additional information,” an NHTSA representative informed Reuters on Friday.
Tesla did not instantly comment.
Earlier this month, Tesla remembered https://www.reuters.com/business/autos-transportation/tesla-recalling-almost-12000-us-lorries-over-software-communication-error-2021-11-02 nearly 12,000 U.S. vehicles due to the fact that of an interaction mistake that might activate an incorrect accident caution or unanticipated automated emergency situation brake.
The recall was triggered after a software application upgrade to lorries with FSD Beta. Tesla stated more than 99.8% of the lorries remembered since Oct. 29 had actually set up a software application upgrade to attend to the problem and no more action was needed.
FSD is an innovative motorist help system that manages some driving jobs however Tesla states does not make lorries totally self-governing. The functions “require a fully attentive driver,” it states.
Last month, NHTSA raised issues about how FSD was being utilized. “Despite Tesla’s characterization of FSD as ‘beta,’ it is capable of and is being used on public roads,” NHTSA stated.
NHTSA in August opened https://www.reuters.com/business/autos-transportation/us-opens-formal-safety-probe-into-tesla-autopilot-crashes-2021-08-16 an official security probe into Tesla’s Autopilot, a various motorist help software application system, after a lots crashes including Tesla designs and emergency situation lorries.
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Identity tech firm Laxton has announced that it will be launching the new Chameleon range of rugged multi-modal biometric products...
Iris is unique organ and essentially unchanged throughout one’s lifetime
Has distinguished lower false acceptance and false rejection rate
The capturing and verification process takes less than 2 seconds
It is touchless and can be taken at a distance from user’s eyes


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Facebook, who has been considering entering the mobile phone business for years, is reportedly working with HTC to create a Facebook branded smartphone. Although Facebook was reportedly considering several popular phone companies, the company has chosen HTC to develop the new phone. The new phone, which is code-named “Buffy,” will be designed to transition Facebook from a popular mobile app to a fully integrated phone experience.
In a recent interview, a Facebook spokesman would not comment directly on the new Facebook phone. However, he did say the following considering Facebook’s mobile strategy:
“Our mobile strategy is simple: We think every mobile device is better if it is deeply social. We’re working across the entire mobile industry; with operators, hardware manufacturers, OS providers, and application developers to bring powerful social experiences to more people around the world.”
Facebook, who has over 800 million users worldwide and 350 million active mobile users, is planning to utilize the new handset to continue building the social network’s dominance. The Android phone will come with a pre-installed Facebook client, full Facebook integration, and will probably offer a dedicated button to quickly access Facebook at any time. The long-term success of the Facebook phone will depend on whether the phone can offer a significantly more social experience than other Android phones with the Facebook app.
While Apple and Google are currently the dominant players in the mobile market, Facebook may be able to leverage its loyal user base to win over mobile customers. The estimated time frame for the Facebook phone product launch is between 12 and 18 months.


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US chipmaker Qualcomm’s quarterly revenue and income topped Wall Street forecasts, suggesting slowdown within the world smartphone enterprise may be much less extreme than feared after a string of weak forecasts from suppliers.
The outcomes introduced in Qualcomm’s smartphone chip enterprise contrasted to these from main cell phone parts makers in Asia, together with TSMC and SK Hynix, which have warned of slower progress of their smartphone chip divisions.
While income from Qualcomm’s chips division – its largest – rose 6 p.c within the three months ended March 25, income from the licensing enterprise plunged 44 p.c, reflecting the withholding of income in a high-profile patent battle with Apple.
Despite the sturdy quarter for chip gross sales, the corporate does see some indicators of weak point.
It forecast progress of about 5 p.c in fashionable cellular handsets for the rest of the 12 months, which is decrease than anticipated. Handset costs, nevertheless, are larger than anticipated.
“Qualcomm posted solid results, but its guidance pointed to a softer handset market, particularly in China,” stated Moody’s Senior Vice President Rick Lane.
Qualcomm is also ready for Chinese regulators to think about its utility to purchase chipmaker NXP, a deal that Chief Executive Steve Mollenkopf expects to undergo. If it doesn’t, Qualcomm plans to make use of the money devoted to the deal for a share buy-back. The deal was held up by diplomatic issues between international locations, relatively than Qualcomm-specific issues, he stated.
The largest spat is over a US ban on exports to China’s ZTE Corp after it was caught exporting to Iran. Qualcomm stated it expects the lack of enterprise with ZTE to decrease its earnings by three cents per share subsequent quarter, although executives additionally prompt that different smartphone makers that it additionally does enterprise with might make up for that misplaced income in the long run.
The outcomes come as San Diego-based Qualcomm tries to persuade shareholders it could increase earnings by chopping annual prices by $1 billion (roughly Rs. 6,670 crores) and resolving the Apple dispute.
Qualcomm on Wednesday forecast current-quarter income of between $four.eight billion and $5.6 billion (roughly between Rs. 32,000 crores and Rs. 37,000 crores), and adjusted earnings of 65 to 75 cents per share. Analysts had been anticipating income of $5.32 billion and earnings of 75 cents per share, in accordance with Thomson Reuters.
Qualcomm’s quarterly internet earnings fell to $363 million, or 24 cents per share, from $749 million, or 50 cents per share, a 12 months earlier.
Excluding one-time gadgets, Qualcomm earned 80 cents per share, forward of analysts’ common estimate of 70 cents, in accordance with Thomson Reuters.
Total income rose four.9 p.c to $5.26 billion, topping expectations of $5.19 billion.
Qualcomm shares rose 1 p.c to $50.25 (roughly Rs. three,350) in after-hours buying and selling on Wednesday.
The sentiment additionally appeared to assist increase different chipmakers in after-hours buying and selling, with reminiscence chipmaker Micron Technology up 1 p.c to $48.12 after the announcement.
© Thomson Reuters 2018


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Google jockeyed for position in the local search game this week when it announced the official release of Google Maps, an enhancement to Google Local.
The new feature, launched as a beta version last month, enables users in the United States and Canada to find location information, navigate maps and get directions to neighborhood businesses, according to the company. Searched images can direct users to business locations with directions provided on Google Local.
The company said it will also provide reviews of businesses and
additional information about establishments, such as hours of operation,
payment types accepted, whether they have Wi-Fi availability, restaurant menus, hotel amenities and more.
Google Maps also recently launched support for Opera and Safari browsers.
Some estimates suggest that local search is the fastest
growing segment in the search game with as much as 20 percent of all
searches performed locally in conjunction with the user.
As previously reported by internetnews.com, numerous online search had
retail giants were paving the way for more localized business models.
Internet retail giant Amazon
new feature to an old service when it launched A9.com Yellow Pages, a
guide to local businesses complete with photographs.
While Google launched its local search in March 2004, Yahoo and Ask Jeeves
followed with local offerings in August. AOL just launched AOL Local Search last month.


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This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.
- Adeel Shams makes millions reselling sneakers.
- Shams shared his expert tips for breaking into the exploding multibillion-dollar resale market here.
- The 27-year-old also named specific shoes that could turn the biggest profit.
- Sign up for Business Insider's retail newsletter, The Drive-Thru.
- Visit Business Insider's homepage for more stories.
For some people, sneaker reselling is more than a side hustle — it's a full-time job.
Adeel Shams and his business partner, Davon Artis, have hacked the sneaker resale market, which could be worth $6 billion by 2025, according to a recent Cowen & Co. analysis. Shams said he makes millions reselling sneakers through Cool Kicks, a store for buying, selling, and trading sneakers and streetwear.
Shams earned $6.9 million in sales last year, marking a 103% increase from 2017 to 2018. He has three stores in Los Angeles and one in Springfield, Virginia, and is launching a subscription-based app that he says will work to offer subscribers sneakers for less than market value.
Shams previously told Business Insider his expert tips for people looking to break into the exploding multibillion-dollar resale market. One of his pointers was to invest carefully.
"Buy the right product," he said. "Don't buy a product that you think is going to sell one day."
Here are the shoes that Shams says are worth investing in — and one type people should stay away from:
1. Collaborations are key
A sneaker becomes more valuable if it is the result of a collaboration with a celebrity or athlete, Shams said. Examples of popular sneaker collaborations include those with Travis Scott, Drake, and Kanye West.
"I always tell people to always buy collaboration shoes because they're less likely to be restocked," Shams said. "Because as soon as a product gets restocked, the value of the item goes back down because now there's more sneakers in circulation."
2. Right now, Nike and Off-White's collaboration is huge
Nike and Off-White have collaborated in the past. Shams told Business Insider that this is one collaboration to look out for.
He explained that although the collaboration sneakers were not selling for much on StockX right away, they were still worth the investment because of the hyped-up nature of the collaboration.
3. Air Jordans are not always a safe bet
Rare pairs of Air Jordans have resold for as high as $20,000.
Still, Shams warns against blindly investing in Air Jordans without checking the production rate.
"Jordans are getting mass-produced to a point where not all Jordans are resellable like how it used to be," Shams said, adding that other pairs of would-be best-sellers that might not be worth the money.


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Instead, shopping hours have shifted later into the day after work from 8pm-12am.
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Just a few years ago, Malaysians would be happily browsing e-commerce apps and shopping throughout the day, but particularly at work.
However, recent reports show that Malaysians are no longer online shopping during the day: instead, they are checking-out their purchases after work.
Good news for employers
Previously, iPrice reported that in 2016/2017, most people were online shopping during the work day, at 11am-4pm. The peak time to make purchases was on Wednesday, usually at 12 noon.
However, in their 2021/2022 report, they noticed that activity on these e-commerce sites were no longer as active in the day. Nowadays, Malaysians are making their purchases in the evenings after work, especially during the 8pm-12am window, with peak activity on Sunday.
iPrice hypothesised that because online shopping shifted to mobile devices, consumers were no longer limited to the times when they had a computer in front of them at work. Instead, it is now all too easy to browse and make purchases during leisure time too, even during work commutes or right before bed.
Big money on big devices, small money on small devices
Interestingly, iPrice’s report also showed a clear difference in spending behaviour when it comes to purchasing items on mobile and on desktop.
Online purchases made on desktops tended to be fewer in volume, but were often higher-ticket items. By comparison, online purchases made on mobile were high in volume, but mostly cheap and inexpensive goods.
This is likley because higher-ticket items require more research and comparisons, which is easier to do on a desktop.
Regardless of what kind of shopper you are, one thing is for sure: employers will be pretty glad to hear that their employees aren’t being paid to shop online!
Anne is an advocate of sustainable living and the circular economy, and has managed to mum-nag the team into using reusable containers to tapau food. She is also a proud parent of 4 cats and 1 rabbit.


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TJ Pompeo recently announced he is departing Da’ Truth’s label Mixed Bag Entertainment. This news comes prior to the release of his debut EP Pompeiio which will be available November 13th.
Read TJ’s full statement below:
A few days prior to his debut retail EP “Pompeiio” releasing, TJ Pompeo has confirmed that he is no longer signed to Mixed Bag Entertainment.
The Atlanta-based artist emphasized that there is no ill will towards Mixed Bag. Pompeo states, “I’m grateful for all of the experiences I had while I was with Mixed Bag. Being on the road with TRUTH was a great opportunity to learn the industry ropes. I’ll definitely carry that wisdom and knowledge into my future industry endeavors. Mixed Bag is going through a transition, and they offered me an opportunity to be released from my contract, so my management and I decided to pursue that opportunity. No bad blood, no hard feelings.”
“Pompeiio” is set to release this Friday, November 13th, and will be available at all major digital media outlets.


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Media stocks and broader markets swooned Tuesday with all three major indexes posting their worst session since June of 2020 on news that consumer prices last month rose more than expected.The brutal selloff hit tech and media stocks hard with Apple, Roku and Google down about 6%, Amazon and Snap off 7%, Spotify losing more than 8% and Facebook 9%.Netflix retreated 7%, as did Paramount Global.
Comcast shed 6%, Lionsgate close to 5% and Disney nearly 4%. Warner Bros. Discovery shares dipped 2.7%The DJIA surrendered 1,276 points, or nearly 4%.
The Nasdaq dropped by more than 5%, and the S&P 500 4.3%.Inflation – which hit a 40-year high earlier this year — is the culprit.The Bureau of Labor Statistics released its Consumer Price Index (CPI) for August early today and it showed smaller than expected declines.Read more on deadline.com
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Jason Blum's Blumhouse, NBCUniversal Form Branded Content Partnership
Blumhouse.com will create video content to help advertisers scare up millennial audiences.
Jason Blum's Blumhouse Productions, a name synonymous with all things scary, is pacting with NBCUniversal to created branded video content.
NBCUniversal and the studio behind The Purge, Insidious, Paranormal Activity and M. Night Shyamalan's recently released The Visit will launch Blumhouse.com, an online home for video content developed with advertisers.
"Jason [Blum] and his team at Blumhouse are the experts at scaring up millennial audiences, and our partnership is another addition to our collection of branded production capabilities," Linda Yaccarino, chairman of advertising sales and client partnerships at NBCUniversal, said.
Blumhouse Productions has a larger first-look deal with NBCUniversal, which includes Universal Television and Universal Cable Productions. The Hollywood studio's creative advertising efforts already includes Fluency Productions, a division of NBCUniversal Hispanic Group, which creates branded content for multicultural audiences.
Blumhouse is also bringing to the branded content venture Red Seat Ventures, the digital media company led by partners Chris Balfe and Joel Cheatwood, both of whom helped Glenn Beck build his digital business, The Blaze.


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Meta key Facebook had a difficult year. The company laid off 11,000 workers, about 13% of its workforce. The job cuts were announced after some investors questioned the vision of the company, Reality Labs. In a memo to Meta employees, also posted on social media, Meta’s CTO Andrew Bosworth, defended the company’s metaverse vision and explained that the company will not back down from its plans to creating new AR/VR technologies. Here are all the key points Bosworth wrote in the memo.
Meta remains true to its vision for Reality Labs
I can say with confidence that after one of the most difficult years in the company’s history, Meta remains committed to our vision for the future ahead of us as of the date of this announcement. by us. As reflected in our Q3 results, approximately 80% of all Meta investments support the core business, with the other 20% going to Reality Labs. It’s a level of investment that we believe is necessary for a company that wants to be at the leading edge of one of the most competitive and innovative industries in the country.
Mixed Reality is not showing a live video feed
Augmented reality is more than just displaying a live video feed of your environment in a headset. In order to work effectively, the headset needs to understand your room as a 3D space, and understand the surfaces and objects around you and how they can interact with the digital objects. It requires technologies such as Spatial Anchors, which allow virtual objects to occupy fixed locations in the physical world, and Scene Understanding for recreating nearby physical locations, and Passthrough stereoscopic color, for capturing the physical world and displaying it directly in the head. and depth for extra comfort. Meta Reality, our system for mixed reality, combines all these technologies and more into one system for developers to build.
VR devices are a replacement for laptops and desktop computers
Over time it became clear that VR devices would help to make laptops and desktops more interactive, by placing virtual screens and interfaces on your desktop or handheld. A VR headset will soon be able to emulate a powerful home computer setup, from a device that fits in a backpack and can be used anywhere. The journey towards such a device took a step forward with this year’s Quest Pro.
AR classes will be much easier
Our vision for true AR classes will take years of progress to make our devices smaller, lighter, faster, and more powerful, albeit with less battery power and output. very low heat… A great advantage comes when the equipment is light. to simply render high-resolution graphics in a small user-viewable area. This October we demonstrated this capability for the first time thanks to eye tracking technology on the Quest Pro, and the advancements in VR and AR will continue for many years to come.
The community of VR developers, creators, and users is important
While these early visions are important for the future of VR, even more important is the well-being of the community of VR developers, creators, and users that exists now. This community, more than any technology or hardware, is very confident in what we create.
Our priority is to invest in AI
At Meta, our priorities as a company are now taking advantage of more than a decade of investment in AI. We’ve made a lot of progress in research, like our Rendering and Scenery, and Cicero, our client who can kill people in a strategy game, hasn’t played in most human language negotiations. Our investments are paying the highest rates for enrichment and results are backed by evidence like Reels and our leading advertising system, where we see amazing results when we deliver more powerful AI models. The same is true in Reality Labs, where technologies such as Meta Reality or Presence Platform rely heavily on advanced AI to function.
Can’t wait for the world to see what Meta does
Every time I visit our research labs and see the early versions of these technologies, it blows my mind and I can’t wait for the world to see the results of what we’re building in there. The VR hardware and software we’ve released so far is just the tip of the iceberg, and the best days are still ahead of us.


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Lessons Learned from Skechers – Shoe Companies Shouldn’t Make False Health Claims
Because many consumers trusted these claims, there have been many lawsuits brought against Skechers, U.S.A., Inc. and the other toning shoe manufacturers. Some toning shoe lawsuits have focused on the injuries sustained while wearing Skecher Shape-Ups and other brands of toning shoes. Other lawsuits have indicated that purchases of these types of shoes were based on misleading advertising, which influenced people’s decision to purchase toning shoes in the first place.
Many individual and class-action toning shoe lawsuits in Kentucky and throughout this nation are seeking monetary damages for customers who paid a high price for these toning shoes that promised health benefits, but failed to deliver. These false print, TV, and Internet ads touted benefits but instead delivered no such benefit. In fact, many people who wore the rocker bottom sole ended up suffering injuries as a result.
Some of these lawsuits are not just seeking money, but they are asking the court to stop allowing Skechers and other companies to continue using deceptive advertising.
Is Another Company Following in Skechers’ Footsteps?
After all the heat Skechers has been through for their deceptive advertising, one would think that another company would not want to follow in their footsteps. However, the popular barefoot-style FiveFingers Vibram shoe may be doing just that.
A lawsuit has already been filed against Vibram alleging that these shoes injure runners and make deceptive health benefit claims promising to strengthen foot muscles, improve range of motion in the feet and ankles, improve balance, and align the spine to improve posture.
The public is now questioning these health benefits claims and wants to see proof that these running shoes provide such benefits.
If you have suffered a toning shoe injury in Kentucky, Ohio, or throughout the nation, please call a knowledgeable Northern Kentucky injury lawyer at the law office of Schachter, Hendy & Johnson to find out more about your rights at (859) 578-4444 or (888) 606-5297 and receive a free legal consultation.


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RED HOOK - Commuters and sightseers who take advantage of IKEA's generosity on free water taxi rides will now take a backseat to IKEA shoppers.
The home furnishings giant offers the free ferry service to its Red Hook location, which opened last month. However, it will now stamp the hands of shoppers and offer those individuals boarding priority - and a guaranteed seat - on the water taxi.
"It seems to me that it should be going to the patrons of IKEA, and not be ... everybody else just for commuting and sightseeing," says rider Debbie Field.
The policy began Monday, and a store spokesperson says the free rides are popular, so they needed to find a way to give priority seating to customers. Shoppers agree.
"It's a little unfair for people to use it as mass transportation," says Marcia Giordano.
For Red Hook residents, the ride serves as a more pleasurable shortcut that gets them out of the car and off the subway. However, they say they also use it because the area lacks enough public transportation.
"It's been more difficult to get a public bus to go in and get to work," says Marsha Trattner.


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Last week, NYPD officers touted the seizure of nearly 250 electronic bicycles in Manhattan, noting that the popular means of transportation for Seamless delivery drivers and messengers across the city is actually illegal.
"Electric bikes are illegal," tweeted 7th Precinct commanding officer Steven Hellman, who said that officers were out issuing summonses and confiscating scores of the two-wheeled machines last Wednesday.
Deputy Inspector Mark Iocco later claimed in a tweet that "pedestrians, bikers and motorists are safer" because of the crackdown, claiming that the move was in line with Mayor Bill de Blasio's highly-publicized "Vision Zero" campaign, which aims to make traffic deaths in the city a thing of the past.
The fight over electric bikes in New York is nothing new. The City Council banned them back in 2004, despite the fact that they are legal under federal law so long as their maximum speed is less than 20 miles per hour. Since then, the police department has regularly cracked down on riders zipping around on the unsanctioned vehicles.
In terms of working toward's de Blasio's goal of reducing traffic deaths, cracking down on cyclists probably isn't the best way to go. According to the city's data portal, there were more than 47,000 reported motor vehicle collisions from the start of 2017 through March 24. Only 255 of those involved bicycles.
Sure, it's easy to get irritated when a delivery guy zips in front of you out of nowhere while you're crossing the street. And sure, the hum emitted from many electric bikes sounds like a swarm of bees. But the bikes have become an integral part of the city. From expediting your midnight sushi delivery to keeping a countless number of people employed, the buzzing bikes are, by and large, a good thing for New York.


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LOUISVILLE, Ky. (WDRB) -- Police say a shoplifter who stole jewelry and wine from a local store made off with a security guard's taser as he made his getaway.
According to an arrest report, it happened at the CVS Pharmacy at 340 West Muhammad Ali Boulevard, just before 10:30 p.m. on Monday.
Police say they were called to the store after a security guard saw 47-year-old Ronnie Jones shoplifting jewelry and wine bottles.
When the security guard tried to stop Jones, he "became combative" and grabbed the security guard's taser. Police say surveillance video shows the pair fighting for control of the taser before Jones runs away with it.
Police arrested Jones at the McDonald's near South 2nd Street and West Broadway. He allegedly had both the taser and $178 worth of merchandise.
The merchandise was returned to the store, and the taser was returned to the security guard.
Jones was charged with two counts of robbery. He is currently being held at Louisville Metro Corrections.
Copyright 2019 by WDRB Media. All rights reserved.


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NEW YORK (AP) — Cosmetics retailer Ulta Beauty said Tuesday that it's investing more than $25 million this year to improve diversity of its product mix and inclusion in its business...
My young trees are decked out in their winter finery: arboreal attire, perfumes and cosmetics that will protect them through the winter.
NEW YORK (AP) — Sephora will be replacing all cosmetics areas at Kohl's with 2,500 square foot shops, starting with 200 locations in the fall of year.
SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom on Wednesday signed legislation banning two dozen toxic chemicals from being used in cosmetics, making the state the first in the nation to...
DUBAI, United Arab Emirates (AP) — The world's biggest cosmetics companies have been selling a fairy tale that often goes something like this: If your husband's lost interest in you, if your...
PARIS (AP) — French cosmetics giant L’Oreal said Saturday that it will remove words like “whitening” from its skin care products, a move that comes amid global protests against racism sparked by...
SAN FRANCISCO (AP) — The CEO of a cosmetics company issued an apology Sunday after a video was widely shared online showing her and her husband confronting a man and threatening to call police...
SEATTLE (AP) — After hitting the streets to protest racial injustices, Sharon Chuter was disillusioned by the number of corporate brands posting “glossy” messages spouting support for black...
LOS ANGELES (AP) — Forbes magazine, which once declared Kylie Jenner a billionaire on its cover, says she no longer deserves the title, but Jenner is pushing back.
LOS ANGELES (AP) — Los Angeles police seized more than $300,000 in counterfeit makeup and beauty products including items purported to be from Kylie Jenner's line, authorities said.
NEW YORK (AP) — Salma Hayek said the new comedy “Like a Boss” created an opportunity for her to work with more female actors than usual compared to previous films.
Mia (Tiffany Haddish) and Mel (Rose Byrne) are two women in their 30s who don't need men to make them happy, though they'll gladly use them for fun. They're best friends and roommates, comfortably...
NEW YORK (AP) — Kylie Jenner is selling a stake of her beauty business to CoverGirl owner Coty, in a deal that values the reality TV star’s company at about $1.2 billion.
WASHINGTON (AP) — Government regulators have again warned Dollar Tree’s parent company about importing drugs and cosmetics that could be tainted due to improper product testing during...
PARIS (AP) — Armed with a battalion of celebrity ambassadors, L'Oréal took over the historic Paris Mint building to stage a Paris Fashion Week extravaganza. Offerings from Elie Saab, who went...
Kylie Jenner has been hospitalized with an undisclosed illness and will have to skip a planned cosmetics rollout at Paris Fashion Week.
The 22-year-old social media star and makeup mogul...
MEXICO CITY (AP) — The Frida Kahlo Foundation is partnering with U.S. cosmetics retailer Ultra Beauty to launch a line of makeup inspired by the Mexican artist.
NEW YORK (AP) — Black and other darker-skinned women had long struggled to find makeup that matched or complemented their skin.
But a widening array of products is showing up at mainstream...
RIO DE JANEIRO (AP) — The Brazilian cosmetics maker Natura announced Wednesday that it is buying Avon Products in an all-stock deal that it valued at $3.7 billion, in move that would create the...
NEW YORK (AP) — As Danielle Bayard Jackson was putting together her birthing team, she made sure to include a doula, all the details she wanted taken care of during delivery and how bright the...
NEW YORK (AP) — U.S. regulators on Tuesday warned people not to use certain Claire's makeup products after samples tested positive for asbestos, but the retailer disputed the findings.
NEW YORK (AP) — The top executive at the New York cosmetics maker Coty is leaving less than a week after revealing that significant supply chain problems sapped revenue during the first quarter.
The company said Monday that CEO Camillo Pane, who led the company for two years, resigned for family reasons.
Pierre Laubies, who last ran JDE, a beverage company, takes over immediately. He will also have a seat on the board.
NEW YORK (AP) — Johnson & Johnson is paying about $2 billion in cash for the outstanding stake of a Japanese cosmetics and skincare products company.
The New Brunswick, New Jersey, health care products company already owns about 20 percent of Ci:z Holdings Co.
HARTFORD, Conn. (AP) — Andrea Lenore Cortez and Alyssa Haley, co-founders of Tainted Inc., call their Hartford beauty-and-lifestyle collective "a source of feminine totality."
Want a fabulously made-up face?
Want to learn how to fend off an attacker?
Walk in high heels? Dance burlesque or hip-hop? Go to a funky tag sale? Meditate? Do yoga? Just sit and talk about things?
BERLIN (AP) — Archaeologists say a 3rd century sarcophagus found in what is now western Germany contained the remains of a young Roman woman who was buried along with perfume bottles, a makeup palette and a silver hand mirror.
The Landesmuseum in Bonn said Monday that the massive stone coffin contained an unusual wealth of beauty products, jet jewelry, pins and a folding knife with a handle in the shape of a Hercules figure.
NEW YORK (AP) — It's the beauty aisles themselves getting makeovers now.
LOS ANGELES (AP) — Los Angeles police say $700,000 worth of counterfeit cosmetics seized from vendors in downtown's fashion district have tested positive for bacteria, lead and traces of animal feces.
Officials said Monday that the investigation began after customers complained of rashes and other skin irritations from using the knockoff mascaras, lipsticks and eye shadows.
The seized products include bogus versions of cosmetics by Urban Decay, MAC, Kylie Cosmetics by Kylie Jenner and others.
NORTH LITTLE ROCK, Ark. (AP) — Two people died early Wednesday in a suspected murder-suicide outside of a cosmetics factory near Little Rock, police said.
The shooting was reported shortly after 3 a.m. in the parking lot of a plant that makes cosmetics for the Maybelline and L'Oreal brands.
NORTH LITTLE ROCK, Ark. (AP) — The Latest on a shooting that killed two people outside of an Arkansas cosmetics factory. (all times local):
Police say the deaths of two people outside of an Arkansas cosmetics factory appear to be a murder-suicide.
North Little Rock police say 19-year-old Chasity Denise Cannady and 32-year-old Jim Gilot were found shot to death early Wednesday in the parking lot of the factory just outside Little Rock.
HARTFORD, Conn. (AP) — Police say a University of Connecticut field hockey star who led the country with 34 goals last season has been charged with stealing $34 worth of makeup.
The Hartford Courant reports 22-year-old Charlotte Veitner was arrested Sunday at the campus bookstore after staff told police she tried to conceal cosmetic items inside a bag.
NEW WINDSOR, N.Y. (AP) — Fire investigators in upstate New York say a cosmetics factory fire that killed one and led to 125 people seeking hospital treatment was ignited by static electricity.
NEW WINDSOR, N.Y. (AP) — As the number of people reporting injuries from deadly explosions at a cosmetics factory jumped to more than 125, investigators on Tuesday tried to determine what caused the blasts at a plant with a checkered history that includes fines for safety violations earlier this year and a fatal workplace shooting 12 years ago.
NEW WINDSOR, N.Y. (AP) — Authorities recovered the body of a male worker reported missing after two explosions and a fire at a New York cosmetics factory left 30 to 35 people injured, including seven firefighters caught in the second blast, officials said Monday.
"A deceased male employee was recovered from the plant fire at approximately 7:40 p.m.," Orange County spokesman Justin Rodriguez said in a statement Monday night. He gave no additional details.
NEW YORK (AP) — CoverGirl executive Ukonwa Ojo was struck when the team from an ad agency entered the room to pitch ideas for revamping the cosmetic company's image. For the first time in Ojo's more than 20-year career in business, she found herself working with an African-American creative director.
PARIS (AP) — Jane Fonda and Helen Mirren were the toast of Paris as the two septuagenarian actresses modelled for L'Oreal. The cosmetics giant transformed the Champs-Elysees avenue into a dazzling open-air fashion runway for a one-off event on Sunday.
Other sought-after Hollywood actresses flew in to the French capital to see the collection marking a new chapter of a storied fashion house.
NEW YORK (AP) — Worokya Duncan is the director of inclusion for a private school in Manhattan, so her embrace of diversity is a no-brainer. She's also a big makeup person frustrated over the years by cosmetics companies that don't seem to get how important it is for women of color like her to be serviced, too.
A former Roman Catholic monk has filed a federal lawsuit against cosmetics giant L'Oreal, accusing the company of stealing patented technology in an anti-aging wrinkle cream that his charity was selling to raise money for the poor.
Dennis Wyrzykowski and his company, Carmel Laboratories LLC, have been joined in the lawsuit by the University of Massachusetts Medical School, which developed the technology and licensed it to Carmel in 2009.
LOS ANGELES (AP) — Kim Kardashian West is apologizing after feeling the ire of the internet for defending a makeup artist who used racial slurs several times on camera.
Kardashian West says in a Snapchat video Tuesday that she's sorry for "feeling like I had the right to say 'get over it' in a situation that involves racism."
OLIVE BRANCH, Miss. (AP) — Beauty retailer Sephora plans to open a distribution center in northern Mississippi this summer.
NEW YORK (AP) — Before launching Birchbox seven years ago, CEO and co-founder Katia Beauchamp had to convince some of the world's biggest beauty brands to get behind the $10-a-month subscription service that ships sample-sized mascaras, moisturizers and other cosmetics to customers.
So how did Beauchamp get the attention of top executives? With cold emails that were short and to the point, says Beauchamp, who founded Birchbox with Harvard Business School friend Hayley Barna.
NEW YORK (AP) — The new musical "War Paint," about two powerful women, had another one in the audience Thursday.
Hillary Clinton, with longtime top aide Huma Abedin, attended opening night of the show about cosmetics titans Helena Rubinstein and Elizabeth Arden, who were fierce competitors as they defined beauty in the 20th century. It stars Patti LuPone and Christine Ebersole.
Clinton has been a frequent visitor to Broadway, catching the musicals "In Transit" and "The Color Purple."
SACRAMENTO, Calif. (AP) — Transgender California prison inmates would be allowed to have bras, cosmetics and other personal items corresponding to their gender identities under proposed rules filed with state regulators on Tuesday.
The state corrections department is seeking the changes in response to a federal lawsuit that earlier led California to become the first state to provide taxpayer-funded sex reassignment surgery to an inmate.
SACRAMENTO, Calif. (AP) — The Latest on California transgender inmates, (all times local):
Transgender California prison inmates could have bras, cosmetics and other personal items corresponding to their gender identities under newly proposed regulations.
The state corrections department filed the rules Tuesday in response to a federal lawsuit. The lawsuit earlier led California to become the first state to provide taxpayer-funded sex reassignment surgery to an inmate.
LOS ANGELES (AP) — Los Angeles police are looking to throw shade at the thieves behind a million-dollar makeup heist.
The LAPD said Thursday that it's investigating after $4.5 million worth of eye shadow was stolen from a cosmetics warehouse in the city.
They say the theft occurred between Jan. 28 and Jan. 30 at a warehouse in Los Angeles that houses Anastasia Beverly Hills products.
GAINESVILLE, Ga. (AP) — Terri Gabriel's philosophy is simple.
"If you can't put it in your mouth, you shouldn't put it on your skin," she said.
She came to this realization after suffering from health issues, such as eczema, which resulted in poor skin. But rather than complain about needing makeup that wouldn't harm her skin, she jumped into action.


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Definition of Earnings:
money for work performed
Synonyms of Earnings:
Sentence/Example of Earnings:
"One of the top pieces of feedback we're hearing from our community right now is that people don't want politics and fighting to take over their experience on our services," CEO Mark Zuckerberg said on an earnings call last week.
In his book “The Intelligent Investor,” Graham advised his readers to look closely at annual reports, earnings announcements, and other financials.
“In its years-long scheme, Amazon baited drivers with earnings promises, but then siphoned tips and slashed wages, pocketing over $60 million in the process,” FTC Commissioner Rohit Chopra tweeted Tuesday.
On the earnings call last week, Zuckerberg added more specifics to Facebook’s argument against Apple, pointing out how Apple’s own apps are held to a different standard than those of its competitors.
Coming into 2021 there was a lot of excitement about earnings season.
During its earnings call in February — the company’s first since the merger of Viacom and CBS closed in December 2019 — ViacomCBS CEO Bob Bakish unveiled the company’s new streaming plan.
AstraZeneca now has the strongest earnings growth prospects of any of its large competitors.
No one wants to be the company whose stock was hyped during the IPO process but gets rebalanced after its first earnings call.
When Alameda County shutdown orders stopped production at Tesla’s plant in Fremont, Musk defied local health officials by closing late and reopening early, blasting the rules as “fascist” on an earnings call.
The hope, Silver said, is to replicate that success with the Cooking brand, which currently has nearly 600,000 subscribers by the end of the third quarter this year, per the earnings report.


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China will reopen its borders to foreigners starting from September 28 after six months of travel suspension, as the country recovers from coronavirus pandemic.
Foreigners with valid residence permits for work, personal matters and family reunion will be allowed to enter China starting from Monday. If the holders’ visa expired after March 28, they can apply for a new visa if the purpose of travel remains unchanged, according to a statement released by the country’s Ministry of Foreign Affairs.
However, they would still need to complete a 14-day quarantine upon arrival, and other regulations limiting incoming visitors such as allowing only one international flight per week per airline are still in force.
On March 28, China essentially closed borders to all foreigners including entry for foreign nationals holding APEC business travel cards.
The easing of travel restrictions will likely benefit foreign wine merchants and export managers who previously obtained a work permit in China.
There are also rumors that the country will further ease travel restrictions in October to allow business travels and entry for APEC visa holders. If true, it will likely benefit wineries and representatives who are eager to enter China to reconnect with their business partners on the mainland and attend wine fairs such as Vinexpo Shanghai in late October, ProWine China and Vinitaly’s Wine to Asia in November.
Life in China seems to have fully returned to normal, as wine tastings and events resumed gradually. China’s second quarter GDP posted a 3.2% growth, while other major economic powerhouses in Europe and North America suffered negative growths due to Covid-19.
Ex-Goldman Sachs economist Jim O’Neill, who coined the term BRIC in early 2000s said China will be the “most important marginal driver of global GDP” when interviewed by CNBC.
The country’s wine importers, however, still lag behind, as figures from the first seven months of the year showed.


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One word that wasn’t mentioned much — if at all — during Microsoft’s earnings call Thursday: mobile. Instead, while discussing the performance of the company’s entertainment and devices division, which encompasses Windows Phone and Xbox, executives chose to focus in on a much rosier business — Xbox Live. CFO Peter Klein noted that the company is now generating as much in cash from Xbox Live’s digital marketplace — which includes games, music and video downloads — as from Xbox Live subscriptions. Klein said it was a sign of “increasing customer engagement and monetization” of the service.
In its earnings report, Microsoft (NSDQ: MSFT) also called out Xbox Live growth as helping to drive a 27 percent increase in revenue at E&D. The growth, however, wasn’t enough to drive the division to a profit. Indeed, in explaining why operating losses at the unit had increased to $172 million from $141 million during the same period a year earlier, the company cited “increased royalty costs resulting from increased Xbox Live digital marketplace third-party content sales,” along with charges related to the discontinuation of its KIN phone.
Some other highlights from the call:
Klein was asked whether Microsoft’s expectations for double-digit plus growth in the PC market included tablets. He said it did not and that the company believes growth from tablets will be “additive.” “Tablets are very interesting and remind us there are new scenarios and opportunities,” he said.
As for the company’s online division, Klein said the company was “encouraged by the pace of Bing’s share gains.” He said the company’s search business was outperforming the market and expected it would continue to do so.
In terms of greater trends, Klein — who sounded bullish throughout the call, as one analyst remarked — said the company had not seen any slow down in sales towards the end of the quarter.


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But this deal is bad not just because a company based in an ally country has been wronged. It's bad because it sends a message, after the Unocal deal, that we aren't so sure about allowing foreigners to buy our assets. As one guest on the McLaughlin group, a brilliant journalist with the United Press International (whose comments I intend to post once the transcript is up) pointed out, beggars can't be choosers. Our lifestyle is funded by an incredible trade deficit, which means that the Chinese and Arabs and all those people who we buy things from are stuck with dollars. But the moment they try to buy anything with those dollars, we freak out.
A great example of the size of our trillion dollar current account deficit was from econoblogger Brad Setser:
So it is not at all unreasonable to say that financing the US current account deficit requires that the US raise $20 billion a week, whether by selling debt, selling stocks or selling off real US assets. That is equal to selling one Unocal a week to China (CNOOC was willing to pay $20 billion). Or selling three companies the size of P&O to the Emirates a week.
If Congress were really serious about port security, they would look into the fact that so few containers go through any kind of inspection, including one of its manifests! It would invest in upgrading port systems, where due to unions, many times information has to be manually retyped to keep people employed. But these don't fit in soundbites. It's much easier to come on TV and be outraged that an Arab company is buying our ports.
I have sometimes felt people in a democracy deserve the pain they get. When voters vote based on emotion and rheoteric, they are stuck with inept populists who do little to improve the lot of their people. I grew up seeing this in India, where pols prefered to promise state-subsidized rice at $0.04/kg than invest in infrastructure. Alas, the beacon of hope in the capitalist world has stumbled a little by falling prey to the same emotional vagaries!


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For thousands of years governments have tried to set prices, and failed.
Now, it is likely to be Bill Shorten and Tony Burke's turn.
The Labor leader and his arts spokesman are promising a price-control law for Cher, Kylie Minogue and Jon Bon Jovi. They say music concert tickets should not be allowed to be sold for more than 10 per cent of the price set by concert organisers.
The plan is being driven by the music industry's resentment towards Viagogo, the world's most-popular marketplace for buyers and sellers of live-performance tickets.
To demonstrate the need for government intervention, Burke provided an example from the band Gang of Youths, whose song Let Me Down Easy is 20th on the Australian singles chart.
"One person says he paid in the order of $300 for tickets that were meant to be worth $90," he said at the Labor Party music policy launch in Sydney on Friday.
"He's a casual on $15 an hour. A whole lot of people turn up to the festival or gig, and it turns out that they have sold the same ticket over and over again."
Counterfeits and market pricing
Burke conflated two issues. Selling counterfeit products is illegal. Selling music tickets at their market price isn't.
But it does upset artists, their managers and promoters. They hate the idea of someone else capturing the difference between the price they set – what the tickets are "meant to be worth" – and the price consumers are willing pay, often enthusiastically.
Artists set ticket prices low because they don't want to price poorer fans out of their music, according to Michael Gudinski, one of Australia's leading music promoters.
Economists argue Gudinski and his competitors are actually wary of not-full stadiums, which upsets bands. And they can sell food and drinks at monopoly prices. (Gudinski expresses disgust at the suggestion and complains big venues won't give him a cut of car-parking revenue.)
Viagogo better than Ticketmaster?
Either way, music fans aren't as unhappy as Burke claims. A study last year by three Western Sydney University academics found consumers gave Viagogo and other similar sites a satisfaction score of five – out of seven. Official online sellers like Ticketmaster scored worse.
The anti-scalping policy isn't really for music fans. It is for the music industry, whose lobbyists have been working with the Labor Opposition for the past six months.
Some 200 industry figures turned out for the policy launch in a basement club on Sydney's Oxford Street. Entry was free, and the crowd seemed pleased with Shorten and Burke's performance.
Many must have known that if somehow a Labor government could enforce price controls, the supply of tickets on the secondary market would dry up. The promoters would be back in control.
That is what history suggests. Authorities in Ancient Greece enforced a state-directed cartel designed to lower prices for grain. In an early example of tough-on-crime politics, the penalty for breaching the cartel was death.
Initially, there were grain shortages. After a while the black market filled the void, the Athenians were fed, and some traders made investment banking-style profits.
Not that the music industry is interested in market power, of course. They're simply here to entertain us.


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BOTSHABELO – One of the fastest growing bed manufacturing companies which was officially launched in Botshabelo, Free State province by Premier Ace Magashule and the then MEC for Destea, Msebenzi Zwane eight months ago, Kings Comfort is geared up to take the African bed market by storm.
This company with a unique poverty alleviation business model is spearheaded and funded by the provincial (DESTEA) department of economic, small business development, tourism and environmental affairs in conjunction with the newly established company, Kings’ Comfort, aimed at revitalizing businesses in townships.
In an interview with Dumelang News, the big dream maker as Andries Taljaard is commonly known was thrilled by the impressive inroads their eight month old company is making nationally and internationally in just a short space of time. “We are grateful to Free State government as they are supporting us and recently sent us to SAITEX (South African International Trade Exhibition) which was held in Johannesburg. This was a great platform for us as most of the international companies had come to showcase their products and to create business opportunities in the import and export market. We met different people and some of them are the very people we will be exporting our beds to,” said Taljaard.
He said they would be exporting their beds countries like Malawi and Zambia starting from next month. “We are waiting for the ten visas for our team to be approved. The companies that we are working with have good distribution networks and the existing warehouse where our beds would be stored,” he said. “This is creating more jobs for locals as we are manufacturing locally in a component format.
Meaning we will fold up the beds and send two of our employees to re assemble them,” the big dream makers said. He said going international is going to force them to increase the volume of their beds manufactured hence they have imported five million rand worth of machinery from China and they are hoping to create fifty more jobs for strictly local people.
“We will be manufacturing 1000 beds per month for each country. We will intend increasing them to 2500 a month starting from next year. In October 2014 the company started locally in Botshabelo and in March this year we moved to Johannesburg for our national footprint and we are glad that we are now going international,’’ he concluded