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Petra Diamonds in its trading update for Q1 FY 2021 (July through to September) reports a 10% decrease in production to 974,346ct, which the miner attributes largely to the continued care and maintenance status of the Wiliamson mine in Tanzania. The miner also reports a 33% increase in revenue, to US$82m, as Petra released inventory from Q4 2020 and rough prices at the latest tenders (September and October) firmed up significantly, although still 10% below pre-covid tender results, the company statement adds.
De Beers reports selling US$467m worth or rough diamonds at its latest sales cycle, 57% more than the same sales period in 2019, 40% higher than the previous sale, further confirming rough demand has picked up significantly in view of the holiday season. The miner, who discounted prices by 5 to 10% according to industry insiders, went through several months of near zero sales, at the peak of the pandemic's first wave, and implemented maximum flexiblity to its long-term customers. In the latest cycle, it also extended the usual one-week sales momentum to more than 3 weeks.
CBC news reports that negotiations around the US$126 million sale of a number of Dominion's assets, including the Ekati mine, to affiliates of owner Washington Companies have reached an "impasse" with no chance to reach an agreement before the deadline of Oct 14.
Economic Times India reports that this year, some 650,000 diamond polishers in the country's main polishing hub Surat will skip the Diwali holidays this year, as global demand for polished diamonds is ramping up ahead of the holiday season. By continuing to work, many units are trying to make up for losses, caused by the COVID-19 pandemic and the virtual shutdown of manufacturing. An estimated 5,000 polishing units out of 7,000 total have now resumed activities, at 70% capacity and according to the GJEPC, India's overall exports are now estimated to be at 50%.
Osisko Gold Royalties, one of the secured creditors which acquired Stornoway's assets and properties a year ago as well as its debts and liabilities yesterday announced the Renard mine operations will resume later this month, after a four-month suspension due to liquidity issues. The restart plan includes a further cost reduction of $30 million and a commitment to boost working capital with another $30 million by shareholders. Stornoway is also expected to bring over 300k carats of unsold rough to the market later this year.
The Antwerp World Diamond Centre and Israeli Diamond Institute, in collaboration with VDB Expo, this morning kicked off a three day Online Diamond Trade Show, featuring 50 exhibitors from Israel and Antwerp. The event, which is open 24 hours a day and has direct communication features including live videochat, already has 800 registered professional buyers, from over 50 different countries. In the pre-covid era, traders would now be gearing up to ship goods and travel to the Hong Kong September show.
Grib Diamonds sold 100% of its wholly owned Russian production in Antwerp yesterday, Monday 7th September. 390K carats of Russian goods were on offer which sold for more than $25M. Over 300 companies were invited to participate in the viewing of which 159 were active in the auction. “Bidding was stronger than any Grib sale seen since December 2019 with nearly 5,000 bids made. Prices rose to levels not seen since the beginning of the 2020, with particular strength noted in the cheaper goods and smalls.”, the company said.
Bloomberg, citing the encouraging jewelry sales results of brands like Signet, Tiffany and Macy's, reports that US shoppers - at least those who can - are spending their money on diamond jewellery, rather than trips or restaurant visits. High-end products have been performing particularly well in the last quarter and those spending are spending more than normal on items, the article states.
In a Q&A following the announcement of interim results, GEM Diamonds CEO Clifford Elphick said the company is not pursuing any of Petra's assets. "They are lovely assets but there is a massive debt pile and everyone looks at this in the same way … We’re near the end of all this.”, Elphick said. In the first half of 2020, GEM Diamonds reported a US$1.7 million loss, compared to a US$ 4.2 million profit in the same period last year, and the Letseng mine production forecast was adjusted to 96,000ct down from 100,000ct.
According to an opinion piece by Rough&Polished's Sergey Goryainov, the Russian State Repository may be in the process of buying US$ 1 billion worth of (rough) diamonds from Alrosa, the Russian mining giant, to alleviate the pressure on the company as the industry suffers from the COVID-19 pandemic. The author believes that what he describes as a "bailout" for both the industry and Alrosa by the Gokhran is inevitable and necessary move.
Accelerated by the COVID-19 pandemic, Signet Jewelers CEO Gina Drosos is rolling out the Path to Brilliance transformation which focuses on dramatically changing the customer experience by bringing it into the digital world, with virtual appointments, Live experts and events and tying into customers' personal social media channels. The transformation process, which had been initiated before the pandemic, also aims to maximize on current trends focusing on value, values and trust consumers place in Signet's brands with an omnichannel approach.
After major miners De Beers and Alrosa announced price cuts, Bloomberg reports that the combined sales of their recent long-term client sales amounted to US$500 million, in stark contrast with the near-zero sales of the past six months, as the pandemic broke out and both companies decided to maintain pricing but maximize flexibility to their clients to defer contract purchases.
According to Morgan Stanley analysts, in the 2nd half of 2020, De Beers' sales could rebound to US$1.6 billion, a recovery they believe will be driven by the holiday season, traditionally a strong sales period. The miner, for 85% owned by Anglo American, clocked an EBITDA of only US$2 million in the first half of the year, as De Beers' sales of rough diamonds dropped to nearly zero due to the global pandemic.
Figures released by the Antwerp World Diamond Centre on the first six months of the year indicate that in terms of value, trade in the world’s diamond trade hub halved as a consequence of the impact of the COVID-19 pandemic on the global diamond and jewelry business.
According to figures released by the GJEPC, India's rough imports plummeted to 82% in the period between April and July, as a consequence of the global pandemic as well as a voluntary ban on rough imports that was implemented for several months. In value, rough imports decreased sharply from US$ 4 billion to US $712 million, while polished exports fell 47% to US$ 2.7 billion (compared to US$ 5 billion year-on-year).
Alrosa, the Russian mining giant says it is close to finalizing a deal in which the Gokhran, the Russian State Repository will buy a significant volume, ranging between US$500 million and US$1 billion, worth of diamonds. “It’s a question of state-government support to our company,” Evgeny Augurev, Alrosa's Vice CEO commented, “And not only to our company, but to the whole industry.”
According to data from Edge Pulse, The Edge Retail Academy's aggregated jewelry sales data platform, US independent jewelers' uptick in sales in June is continued and even amplified in July, with a 10% increase in gross sales. Remarkably, diamonds are driving the improved sales trend, with a 16% increase in gross sales and 19% in the amount of units sold in July.
Rapaport reports that their price index shows polished prices have improved in July, as a reduction in diamond supply, on both rough and polished side, are causing supply shortages for certain goods. The RAPI index for 1ct diamonds was up 1.9%, which Rapaport claims is boosted by increased demand from investors for high-end, D - IF stones. Year to date, the index fell 4.8%. Rapaport believes that in the long run, the need for more efficiency in supply and demand, enabled by technological innovations will result in a more profitable trade.
According to MiningMX, GEM Diamonds, operating the high-quality diamond yielding Letšeng mine in Lesotho, halved its net debt to $5.5 million (compared to $10.1 million at the end of 2019) as a result of improving efficiency and successfully reducing costs, such as management salary cuts that remain in place, as well as higher than expected sales results, with an average of $1,707 per carat in the first half of the year.
After months of a virtual standstill in most of India's polishing industry, the Indian diamond industry trade bodies say polishing activity in Surat is now at 20-30% capacity, and they are no longer calling on the local manufacturing sector to voluntarily ban imports of rough diamonds.
At its Annual General Meeting presentation, Lucapa, the Australian company operating two of the world's highest $ per carat diamond mines, Lulo in Angola (alluvial) and Mothae in Lesotho (kimberlite), sized up the effects of the COVID pandemic on the company's operations and performance.
The COVID pandemic, so much is clear, is far from over, and continues to put pressure on the global economy. Sales of personal, aspirational luxury items are taking a hit, but for the super rich, the Financial Times reports, that doesn't necessarily mean they are spending less. The so-called "ultra high net worth individuals" have shifted consumption patterns, from spending on high-end travel and restaurants, to buying real estate closer to home and exclusive items, from paintings over autographed sneakers to exlusive diamonds and jewellery pieces online.
Chinese retailer Luk Fook has announced a 71% drop in sales in the first fiscal quarter, with largest same-store sales declines in Hong Kong and Macau (76%). Of the company's self-operated stores, a large proportion is located in Hong Kong and Macau (60) compared to the amount of shops in Mainland China and other locations (118). Hong Kong, a popular destination for luxury shopping tourists, has been under continued restrictions, such as a compulsory 14-day quarantine, as wel as renewed outbursts of civil unrest.
Bloomberg reports that in a letter to De Beers' staff, seen by Bloomberg News, the company's CEO, Bruce Cleaver, has communicated the company is looking into ways to reduce costs and increase revenue across all operations. Sales have dropped dramatically since the outbreak of the pandemic and the company fears demand for diamonds is not likely to improve in the short term. According to Bloomberg, insiders believe the restructuring could also involve job cuts and changes to the traditional selling system of sights and sightholders.
In a recent update on the website of the Government of the Hong Kong Special Administrative Region, published Wednesday July 22, COVID-19 restrictions for foreigners traveling to Hong Kong have been prolonged to the end of the year, Dec 31st and are likely to remain in place until that date, considering across the globe, including in Hong Kong, the number of cases has been rising in the past weeks.
For the sixth sight of the year, De Beers will continue to offer their clients the possibility to view goods in Antwerp and also Dubai, starting on Monday. Alrosa announced earlier this week it will drop mandatory buyout minimum requirements for the July sale, also starting on Monday, and as of August, the volumes will be reduced to 50% leaving clients the option to purchase additional goods via auctions and tenders.
Firestone Diamonds is extending the temporary closure of the Liqhobong mine in Lesotho, until April 2021 or until the market improves. Firestone slashed salaries and has let go most of the workers operating at the mine, which is Firestone's main asset. The company's BK11 operation in Orapa region Botswana, has been under care and maintenance for several years.
After a large number of diamond workers again tested positive for COVID-19, the Surat Diamond Association has decided to shut down all manufacturing and trading operations as well as private vaults for another week, through to July 19, putting the world's largest manufacturing hub for diamonds at an effective standstill once again. The situation will be reassessed on July 19, Indian Express reports.
It was a matter of time before someone would do it, and diamond-studded face masks are the latest craze in India, Times of India reports. One jeweler came up with the idea when he had to create jewelry for a wedding and created the sparkling face masks for both bride and groom.
Rapaport reports on a letter, sent by Israel Diamond Exchange President Yoram Dvash, to the Israeli government, pleading for more support for the Israeli diamond industry, which is "on the verge of collapse". Barely reopened after months of standstill in the trade, Israel recently has been facing an increase in COVID-19 cases and consequent tightening of pandemic restrictions, once again halting the trade on the Ramat Gan bourse floor. The ramifications for the Israeli diamond industry are severe, the letter explains, and the crisis is getting worse.
In an extensive report, Rapaport spoke to a number of jewelers across the US, gauging how businesses are faring through the COVID-19 pandemic. Although circumstances were different throughout the US, with states deciding independently on how strict they applied lockdown measures, the majority of retailers came up with ways to adapt, through appointments, curbside pickups or even home deliveries. The impact of the global pandemic is hitting jewelry retail sales, but many jewelers seem optimistic.
India's woes continue as more COVID-19 cases in Surat, which some deem a veritable infection hotspot, forced a week-long closure of manufacturing units. Meanwhile, the GJEPC and other industry bodies are extending the voluntary ban of rough diamonds from July 10-31st and said they will be calling on large producers to continue their flexibility towards long-term customers. At the same time, as tensions continue to rise between India and China, traders are forced to reroute polished exports to Hong Kong, which are being blocked by Chinese customs.
According to Business Standard, the voluntary moratorium on rough diamond imports into the country, might be extended, citing spokespersons of the GJEPC saying that inventory levels remain high, estimated at 2.3 billion US$, with no need for imports to resume as "it would take another two or three months to service previous orders".
Rapaports trade analyis of the import and export figures of polished diamonds in April in the world's largest consumer market for diamonds demonstrate the massive effect of the COVID-19 pandemic and civil unrest. According to the report, polished imports dropped to the lowest level, with net polished imports (polished imports - polished exports) sinking to -807 million US$, where in the same period (January to April) last year, the net imports stood at a surplus of 474 million US$.
With more than 150 new positive tests among diamond workers in Surat, India's polishing hub, local communities and industry organizations have instated new restrictions, including an 8-day closure of each manufacturing sub-unit if one person, full closure if more than two persons test positive. Already more than 25 units have been close and cafetaria's are not allowed to open.
Mining Weekly reports that Mountain Province, owning a 49% stake in the NWT Gahcho Kue mine, has proposed a deal to Dunebridge Worldwide, an affiliate of shareholder Dermot Desmond, to sell its run-of-mine production, at current market prices at the moment of each sale. The first sale is scheduled for roughly US$22 million later this week. Mountain Province will be entitled to a certain portion of the potential added value - after fees and expenses - generated by Dunebridge when it sells the diamonds in the future.
At its first tender after lockdown measures were relaxed in Antwerp, tender house Koin International has launched an innovative approach to allow customers to virtually participate in rough tenders, through a concept called "Virtual Viewer". Using specialized equipment and technology, including high resolution livestreamed video, a Koin expert acts as the eyes and hands of the client in a realtime viewing experience. The sessions are also recorded, allowing buyers to review goods whenever suits them and make an informed bidding and purchasing decision from any location in the world.
HRD Antwerp, the Belgium-based diamond grading lab is expanding its e-learning program, including live online courses on diamond grading and retail sales in which students can interact live with the instructor. The program will be available in several languages, HRD Antwerp announced. The first course, in English, is scheduled for June 15-19, and comprises of daily 3-hour sessions, between 5PM and 8PM CET.
Alrosa reports its first E-sight, offering long-term clients the possibility to purchase on a stone-by-stone basis was a success, “demonstrating market demand for rough diamonds and a willingness to purchase via online channels.”, says Alrosa deputy CEO Evgeny Agureev.
In a second tender, currently going on, the miner is tendering 700 rough stones from 5 to 10ct batches, open for purchase to long-term clients, as well as Alrosa’s spot and auction customers.
A deal that was announced between LVMH and Tiffany & C° earlier this year, in which the France-based luxury conglomerate led by Bernard Arnault would acquire the iconic jeweler for $135 per share, is potentially falling through, as LVMH is reconsidering its engagement amid the turmoil of the COVID-19 pandemic and unrest in the USA. According to Retail Dive, LVMH’s press release suggests that it is looking to lower the offer, and some sources say that move is based


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Property industry renews its call for a rent support scheme to help prevent CVAs
Calls on the government for a rent support scheme to stop a tidal wave of CVAs in the retail and hospitality sectors have intensified following the chancellor’s failure to include any rent relief measures in the summer statement.
The initial proposal was revised after the government indicated the scheme was too expensive, with the cost more equally shared between government, tenant and landlord. But the chancellor opted to back VAT cuts and Eat Out to Help Out in an attempt to support the retail, leisure and hospitality sectors instead.
Industry leaders said the news had come as a major blow. “We were disappointed that the chancellor didn’t take the opportunity to say something tangible to support retail and hospitality, but it’s still under consideration and still under discussion.”
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A woman has been attacked with an axe in broad daylight, by a man known to her, at a shopping centre in Melbourne's south east.
It's believed the woman was struck with an axe "multiple times", inside a business at the Westfield Fountain Gate shopping centre on Princes Highway in Narre Warren just after 10am on Monday, police said.
The woman, aged in her 30s, suffered upper-body injuries and has been taken to The Alfred hospital in a stable condition, an Ambulance Victoria spokeswoman said.
Police have arrested a man over the incident.
The alleged attack appears to have occurred at the Beauty and Brow parlour on the first level of the centre.
Hasan Zaman, owner of The Beauty and Brow Parlour said his employees called security and police as their colleague was attacked.
"She couldn't talk, she was badly beaten," he said.
"I don't know what he was thinking, a normal person cannot do this ... you can't beat people in this country."
He said the incident could have been even worse had she not been at work.
"It was lucky it was in the shopping centre, we could take immediate action and he didn't run away."
A worker at a nearby store said she heard screams and ran towards the parlour, along with staff from other businesses.
"He was still there but he wasn't hitting her or anything," she said. The weapon was described as more of a hatchet than an axe.
A spokeswoman for the centre confirmed the attack happened there on Monday. It is believed to have occurred near a beauty parlour on level one.
She said police had established a crime scene and cordoned off an area.
The rest of the shopping centre was trading as normal, the spokeswoman said.
Six stores remain cordoned off.
"Westfield is working with police. Police were at the scene very quickly and have cordoned off an area. I'll leave it to them to comment further on this incident," she said.
A man by the name of Trevor told 3AW he came down the escalator just moments after the attack. He said a man had chased the woman into the beauty salon.
"It seems as though a guy chased a woman into a nail store, at the lower levels of Fountain Gate," Trevor said.
"I had just come down the escalators a moment after it, so there was a bit of pandemonium there until security and the other police got on site.
"I only saw the lady, she was lying on the floor of the nail salon, there was security and there was police. Police were apprehending the male, who they had chased into the store.
"She was on the floor and there was a bit of blood."
Trevor said he was then ushered into the storeroom at the back of the Apple Store.
"I was in the Apple store, just up from where the attack happened.
"Everyone closed their doors, everyone was told to lock down and we were moved into the storeroom of the Apple store until they were given the go ahead.
"All the Apple managers came out, closed the glass doors and moved everyone straight to the back, into the storeroom."
Trevor said that, as he was leaving, he noticed a man had been taken into police custody and placed in the back of a police vehicle.
He said police had acted quickly, as there were "quite a few police" already at the shopping centre.
"They've since blocked off that section of the shopping centre and they're trying to keep as many people away as possible," he said.
The exact reason for the attack is being investigated but police say it's believed the man and woman are known to each other.
National domestic violence helpline: 1800 737 732 or 1800RESPECT. Safe Steps Family Violence Response 1800 015 188. In an emergency call triple-zero.
Anyone who witnessed the incident or with further information can contact Crime Stoppers on 1800 333 000.


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Hyderabad: Telangana State Southern Power Distribution Company Limited (TSSPDCL) is planning to install smart meters in Hyderabad. The meters will not only give an option to consumers to switch from prepaid to postpaid and vice versa, but they also help them track real-time energy usage.
According to a report published in New Indian Express, it will also send meter readings digitally to the supplier thereby removing the need for electricity staff member to visit houses for spot billing.
T Srinivas, Director (Projects), TSSPDCL told that it will allow consumers to limit their usage based on their affordability. As the meters have a prepaid facility, consumers can transfer money digitally using T-Wallet, UPIs, and TSSPDCL website. Once the prepaid balance becomes zero, the electricity will be disconnected automatically.
Speaking about the pilot project on smart meter, he said that 8000 meters that were installed in Jeedimetla worked brilliantly. Apart from it, 10000 smart meters installed in government offices also worked well.
The meters will be installed under Atal Distribution System Improvement Yojana (ADITYA) scheme. However, Central Government’s bob is much awaited.
It may be mentioned that there are around 25 thousand electricity connections in the Greater Hyderabad limits.
Smart meters will benefit both consumers and suppliers. As consumers can know the real-time usage of electricity thereby enable them to limit their usage depending on their affordability whereas, suppliers will no longer face non-payment of bill issue.


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Jury reaches verdict in Apple-Samsung patents trial
SAN JOSE, California (Reuters) - The jury has reached a verdict on Friday in a patent trial between Apple Inc and Samsung Electronics Co Ltd, which will be read in a San Jose, California federal courtroom shortly, according to a court official.
During the month-long trial, Apple accused Samsung of violating patents on smartphone features including universal search, while Samsung denied wrongdoing.
(Reporting by Dan Levine; Editing by Lisa Shumaker)
© Thomson Reuters 2017 All rights reserved.


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Next year’s Samsung flagship might have the best battery life of any of its predecessors.
If you’re in the market for a new smartphone, you can’t go wrong with the Samsung Galaxy S22, but it has one major flaw: the battery life.
According to a few rumours on Samsung’s battery ambitions, the business doesn’t want to make the same mistake again. Starting with Samsung’s smartphone batteries, the company is experimenting with a new battery technology to see whether it can boost battery life. In addition, the size of the batteries that will power the Galaxy S23 versions of next year might be increased as a result.
In order to build smartphone power packs, Samsung Digital Interface will apparently employ the same stacking approach that the company now uses to make batteries for electric cars.
Stacking battery materials in layers results in a higher energy density, according to the paper. According to Elec, the new technology might increase energy density in smartphone batteries by almost 10%.
The Galaxy S22 hasn’t exactly beaten away rival phones for the title of greatest phone battery life, so any increase would be welcomed by Samsung enthusiasts. The Galaxy S22 Ultra had the greatest battery life out of the new Samsung devices we tested, lasting 10 hours and 18 minutes while continually surfing the web over cellular. When the S22 Ultra’s screen could refresh at 120Hz, battery life dropped to just under 9 hours, but it was with adaptive refresh rate turned off. An hour shorter than the typical smartphone battery life.
Results from Galaxy S22 and Galaxy S22 Plus tests weren’t much better than those of the Galaxy S22. With the adaptive refresh rate enabled, the Plus lasted for 9 hours and 46 minutes, whereas the S22 could only manage 8 hours.
The size of the batteries in Samsung’s latest phones may be a contributing factor. Compared to its predecessors, both the Galaxy S22 and the Galaxy S22 Plus have smaller battery packs. Compared to the Galaxy S21 Plus, the S22 Plus has a 3,700 mAh battery, while the S22 has a 4,500 mAh battery, compared to the S21 Plus’s 4,800 mAh battery.
When it comes to the Galaxy S23, Samsung has a plan to increase the battery size. Samsung will use a 4,500 mAh battery in the Galaxy S23, according to Notebook Check, which brought attention to the news in The Elec. Additionally, the Plus and Ultra variants that will be released next year will have larger batteries – 5,000 and 5,500 mAh.
Increasing the capacity of Samsung’s batteries helped the company compete with Apple in its most recent line of flagship phones. All four iPhone 13 models have larger battery packs than their iPhone 12 counterparts. In the case of all four iPhone 13 models, better battery life is not a coincidence. There is a big difference in battery life between Samsung’s Galaxy S22 Ultra and Apple’s iPhone 13 Pro Max.
Assumably, Samsung hopes to do the same thing, if not more, with the new stacking technology, which has been reported. It’ll be early in 2023 before we find out, though, since the Galaxy S23 isn’t anticipated.


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By John Breyault, Vice President of Public Policy, Telecommunications and Fraud
The thought of teaching a modern teenager about technology may seem counterproductive to many people. Indeed, it is teens who seem to be the ones on the cutting edge of technology. The vast majority of teens not only use the latest social networking sites like Facebook, but they are also often inseparable from their cell phones.
Unfortunately, expertise about how to use these technologies doesn’t always equate to knowledge of how to do so safely. Today, it is more important than ever for teens to know how to use technology wisely. For example, snooping on unsecure wifi connections (such as those found in many coffee shops) is increasingly easy for unscrupulous scam artists. Privacy, which for many Facebook-obsessed teens may seem to be an afterthought, could actually be critically important in college admissions and getting jobs later in life. Online scholarship and grant scams is also an area where NCL has noticed an uptick as well.
Fortunately, there are tools and smart practices that teens can use to avoid some of the most common technology pitfalls. It is these good technology habits that LifeSmarts’ technology curriculum seeks to promote. LifeSmarts team members learn, for example, the importance of taking advantage of their privacy settings on Facebook to make sure third parties can’t get access to sensitive personal information. Knowing how to differentiate a secure Web site from an insecure one can save teens from having nasty malware surreptitiously installed on their computers. Understanding the importance of using strong passwords (as opposed to easy-to-guess common words) can save teens from seeing their laptops become part of a botnet or worse.
During National Consumer Protection Week, we urge teens and their parents to consider the important value of this knowledge in today’s 24/7 digitally-connected world. By becoming savvy technology consumers, LifeSmarts participants become better prepared to choose their own cell phone plans, get broadband service at their first apartments, and pass on lessons learned in LifeSmarts to friends, family members and, eventually, their own children.
For more information on the LifeSmarts technology curriculum, visit LifeSmarts.org. To learn more about National Consumer Protections Week, visit www.ncpw.gov.


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Album Chart: Big debut for Usher's 'Here I Stand'
R&B singer Usher has landed his second consecutive No. 1 album in the US with "Here I Stand," which sold 433,000 copies during its first week in stores.
According to Billboard, that marks the second biggest sales debut of the year, behind Mariah Carey's "E=MC2," which sold 463,000 copies during its first week out.
The "Sex in the City" soundtrack sold 66,000 copies in its debut week, and enters The Billboard 200 chart at No. 2. Billboard bases its flagship album chart on Nielsen SoundScan retail reports.
3 Doors Down's self-titled set falls two notches to No. 3 on sales of 63,000, while Bun B's "Il Trill" slips two rungs to No. 4 on sales of 40,000. Leona Lewis' "Spirit" is up one spot to No. 5 on sales of 39,000, according to Billboard.


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China, a nation of 1.4 billion people, has only about 1 million golfers, and sporting-goods companies think that figure could rise exponentially. As golfers multiply, annual spending on apparel and equipment in China should jump more than 40% over the next three years, to $650 million, says researcher Frost & Sullivan. These companies could cash in:
Already a sports-apparel leader in China, its biggest growth market. The company sold $706 million worth of golf goods last year; it’s getting out of the equipment business, but its golf apparel and shoes would benefit from a Chinese surge.
A Japanese brand that forges the world’s most expensive clubs, Honma got 19% of its $215 million in sales last year from China. It listed its stock in Hong Kong in October.
Based in Fair-haven, Mass., it makes the most popular premium ball in China, the Titleist Pro V1. It’s a subsidiary of sportswear firm Fila Korea, but it recently filed for a U.S. IPO and may offer shares as soon as this week.
For more on golf in China, read our full feature story here.
A version of this article appears in the November 1, 2016 issue of Fortune as a sidebar to the article “The PGA Tour Takes on China.”


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Samsung Electronics finally identified what went wrong with its Galaxy Note 7 handsets that led to one of the worst technology recalls in recent times, a day before its full-year earnings.
Dong-jin Koh, Samsung's mobile business chief, acknowledged two separate instances of battery malfunctions were to blame for some of the handsets catching fire at a Monday press conference in Seoul, South Korea. He also used the conference to apologize to customers and suppliers.
Investors responded positively to the news, with Samsung shares closing up 2.31 percent at 1,903,000 won during market close on Monday.The Galaxy Note 7 handsets were packed with lithium-ion batteries, which are arranged in three layers: a positive electrode, a negative one and a third physical layer that acted as the separator between the first two. When the positive and negative electrodes touch, it can sometimes lead to short circuits within the battery cells


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Facebook announced some updates to App ads, the Parse SDK, and the Graph API Thursday evening. They also announced the launch of a new tool called the App Ads Helper.
The App Ads Helper, the company says, helps you “answer common questions around your app and app ads.” The company will expand the number of questions it can answer over time. The idea is that it will help you better advertise your app on Facebook.
Facebook said back ...
August 13, 2014


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The global shortage of chips, affecting the availability of all of graphics cards to PS5, as turned around in a “crisis”. and now Toshiba recommends it it will last another year.
According to Bloomberg, a large demand and a shortage of materials make it difficult for Toshiba to meet their orders. “The chip supply will remain very tight until at least September next year,” said Takeshi Kamebuchi, one of the directors of Toshiba, responsible for semiconductors. ‘In some cases, some customers will only receive full services in 2023”.
Only a handful of companies can make these chips, he explains. The Wall Street Journal. Castings are astronomically expensive to install and orders must be placed well in advance. An increase in cases of Covid-19, natural disasters such as droughts or an increase in political tensions, such as those between the United States and China could affect the global disk supply chain.
The shortage affects businesses in general. GM to reduce vehicle production due to shortages, according to CNBC, and according to the telecommunications research consultation STL Partners (based in London), the disk shortage can also affect telecommunications 2023
As for game console, sWhile Sony has said it can sell more than 14.8 million PlayStation 5 units, Bloomberg notes that PS5 production this year stay behind that of PS4. Nintendo is also struggling to meet demand for the Nintendo Switch. On October 8, Nintendo launches an OLED version of Switch, which can cause a shortage of problems introduction. “If you plan buy the Convert OLED to azure to do it with him first batch, ”wrote Takashi Mochizuki of Bloomberg. Definitely good advice.
‘We are considering which customers face the most serious situation, such as the risk that the entire production line will be stopped or the business destroyed without the provision of chips, ”said Toshiba’s Kamebuchi. “Game console manufacturers are one of the customers with the highest demands, and I sincerely regret their frustration as none of them are 100% satisfied.”


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While operating revenue was INR 416 crore (approximately US$58 million), its overall net loss was INR 360 crore (approximately US$ 50 million) in 2018's fiscal year. Gurugram-based hospitality unicorn, OYO Hotels and Homes, has reported that it expects a revenue of around INR 1,500 crore (approximately US$210 million) for the current fiscal year, 2019.
The company also reported a net loss INR 360 crore (US$50.2 million) in FY 2017-18.
The SoftBank-backed hospitality chain projected that it would generate a revenue of almost INR 1,400 crore ($209.5 million) for the current fiscal year. “The revenue growth has been driven by strong underlying business drivers, with notable increase in exclusive room supply, two times increase in stayed room nights and consistent margin expansion,” OYO said in a statement.
According to OYO finance head Abhishek Gupta, the rise was primarily due to spends on technology, team building and further investments in newer categories that it entered during the previous financial year.
“To maintain this 3x growth year-on-year, the machine needs to be bigger and invest, ahead of time, in people and technology. We have also invested in new categories, which, while leaders in their respective segments are still nascent businesses,” Gupta said.
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Cognos builds applications that help companies better analyze data. This is a more complex process than it sounds, especially in medium-to-large organizations, whose information technology (IT) environments often have different operating systems, databases, and business applications.
However, Cognos's system has some gaps, including a lack of real-time information monitoring. In today's ultra-competitive world economy, this is becoming a "must have" feature.
It's also exactly what Celequest provides, through software delivered via the Internet. This type of online approach is becoming much more popular in corporate America, as seen in the success of companies like Salesforce.com
Cognos mostly sells its software to large enterprises, while Celequest's Web-based approach helps keep its product affordable for small- to medium-size customers. Buying Celequest can help Cognos penetrate a new market segment.
Cognos's prospects look promising in 2007 -- especially with the new launch of its flagship BI product, as well as its recent cost-cutting measures. And while the Celequest deal will take some time to get results, it shows that Cognos is trying to find ways to keep pushing its long-term growth.
You can check out any of the Fool's newsletters free for 30 days.


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A 2012 Chevrolet Volt at a Chevrolet dealership in the south Denver suburb of Englewood, Colo. Sales of the Volt set a monthly record of 2,851 in September, mostly because of steep discounts. / Feb. photo by David Zalubowski/Associated Press
The Chevrolet Volt widened its lead as the top-selling U.S. rechargeable car this year as Toyota expanded plug-in Prius deliveries and Nissan said it's working to boost electric Leaf sales.
Sales through September of battery-only vehicles and those with both battery packs and a gasoline engine for added range almost tripled to about 31,400 from 11,094 a year earlier, according to data compiled by Bloomberg News. The Volt, with a record 2,851 sales last month, leads with 16,348 for the year, up fourfold, followed by 7,734 Prius plug-ins and 5,212 Leafs.
GM's addition of a discounted lease for the Volt, currently $299 a month for a car with a $39,145 base price, is boosting demand for the model, Jesse Toprak, an analyst at TrueCar.com, a vehicle pricing and data provider, said Wednesday.
"I'm utterly surprised people are not lining up to get one at that price," Toprak said. "The annual fuel savings alone make this car very appealing."
Demand for rechargeable autos, which large carmakers must sell under rules in California and some other U.S. states, hasn't matched initial expectations. President Barack Obama's administration set a goal of 1 million plug-in sales of such vehicles by 2015, but that would require drastic increases in the next three years. Nissan, which also added a low-cost lease offer for the Leaf, said designing a sales strategy for electric cars has taken longer than planned.
Fisker Automotive said it has sold about 1,500 of its $103,000 plug-in Karma.
Buyers in California can now lease a Leaf hatchback for $199 a month for 36 months, a bargain based on the car's $36,050 base price, Toprak said.
"Volt has made an ultra-competitive marketplace with the offers they have on that vehicle," said Al Castignetti, vice president of U.S. sales for Nissan.
Nissan, which had a goal of selling 20,000 Leafs in the U.S. this year, has been working with dealers to refine how it markets the all-electric car that goes at least 70 miles per charge. The company sold 984 of the hatchbacks last month, up from 685 in August. Still, sales fell 4.6% from a year earlier.
"We're finally starting to get the dealer engagement," Castignetti said. "We're driving more traffic to our dealerships and that's a very good thing."
He didn't provide a revised target for Leaf sales.
"Purchases we're seeing now are really fueled by early adopters," Toprak said. "Until a middle-class family in the middle of the country finds that it makes economic sense to buy one of these cars, you won't see big volume."
The Volt, which gets about 38 miles on a charge, qualifies for a $7,500 federal tax credit, as does the Leaf. The base model plug-in Prius costs $32,000, before a $2,500 federal credit.
Other rechargeable vehicles now on sale include Ford's Focus EV, Honda's Fit EV and Mitsubishi's i-MiEV.
Separately, Toyota said sales of its entire Prius hybrid line doubled to 18,932 last month. Combined Prius sales through September grew to 183,340, surpassing the gasoline-electric car's previous full-year record of 181,221 set in 2007.
Bill Fay, group vice president of Toyota's U.S. sales, said in a conference call Tuesday the company expects to sell as many as 230,000 Prius models this year.


text: On Tuesday, October 16, 2007 Oakland Export Assistance Center Director Rod Hirsch helped host client company, Tric Tools', potential distributor from Russia, Z-Techno, with the San Francisco-based Russian Commercial Attache, Denis Khromov. Also in attendance was Tric Tools' new Canadian joint venture partner, Footage Tools. Tric Tools recently signed an MOU with Footage Tools at the June 2007 American Water Works Association (AWWA) trade show in Toronto, Canada. U.S. Commercial Service Director General Israel Hernandez, along with the AWWA trade show organizer presided over the signing ceremony. Z-Techno is seeking to be Tric Tools/Footage Tools distributor in Russia, Ukraine, Kazahkstan and Belorussia. Director Hirsch plans as a follow-up to support Tric Tools and Z-Techno's presence at the June 3-6, 2008 No-Dig trade show in Moscow.


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Final Fantasy XIV Game Reveals New Viper Job, Field Areas, More in 'Dawntrail' Expansion Videos - Anime News Network
Final Fantasy XIV Game Reveals New Viper Job, Field Areas, More in 'Dawntrail' Expansion Videos
by Joanna Cayanan
The Final Fantasy XIV Fan Festival 2023 event in London revealed on Saturday an extended teaser trailer of the upcoming "Dawntrail" expansion for Square Enix 's Final Fantasy XIV MMORPG. The event also revealed videos for the game's new field areas, hub city, and a new in-game job.
The Final Fantasy XIV game also revealed that the Echoes of Vana'diel alliance raid will arrive in the "Dawntrail" expansion.
In addition, the Final Fantasy XIV game will have an open beta test on the Xbox Series X|S, scheduled in mid-January to February 2024. The game's Xbox version will launch in spring 2024 with faster loading and 4K support (Series X).
The "Dawntrail" expansion will launch in summer 2024. As with previous expansions and Final Fantasy series games, Yoshitaka Amano designed the logo for "Dawntrail."
The level cap will increase from Level 90 to Level 100. The expansion will add two jobs, Viper (Melee DPS class) and a new Magical DPS class. Valigarmanda will be one of the new monsters. A new Strategy Board collaborative editor feature will allow players to plan out their strategies for raids.
The expansion's setting will be Tural, in the game world's Western seas. The new hub city will be Tuliyollal in the Yok Tural area. New field areas include the mountainous region of Urqopacha, the thick forest Yak T'el. The story will involve a contest and the city of gold. One of the new allied tribes will be the Pelupelu.
The expansion will feature the previously announced graphical update. There will be improvements to "screen-wide aesthetic appeal" and higher-resolution textures and shadows. As a result, the minimum system requirements will be updated. The PlayStation 4 will continue to be supported. The game update will allow players to put up to two dyes on gear, as well as eyeglasses and headgear at the same time. The game's free trial will now go up to the "Stormblood" expansion, as of the 6.5 patch update.
Square Enix released Final Fantasy XIV Online for personal computers in September 2010. After criticism from fans, the company revealed an updated version of the game titled Final Fantasy XIV: A Realm Reborn that added a new world and story. Final Fantasy XIV: A Realm Reborn launched on Windows PC and PS3 in August 2013, on PS4 in April 2014, and on PS5 in May 2020. Square Enix has since released four expansions: "Heavensward" in June 2015, "Stormblood" in June 2017, "Shadowbringers" in July 2019, and "Endwalker" in December 2021. The game recorded 27 million registered accounts worldwide in October 2022.
Square Enix announced in February 2022 that it will continue support for the MMORPG for the next 10 years.
Source: Final Fantasy XIV Fan Festival 2023 in London livestream
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1. Ascension Coffee
Dallas-based Ascension Coffee is set to open its “most unique location yet” in the Casa Linda neighborhood. Giving a former community gathering place new life, plans to open an Ascension Coffee concept Feb. 18 were announced for 9353 Garland Road in the former White Rock Community Chapel. According to the company’s Facebook page, it intends to incorporate elements that are reminiscent of the building’s past, including beamed ceilings, arched windows and “ornate chandeliers.”
Ascension’s menu includes a variety of coffee and tea drinks, wines, and food items, such as sandwiches, salads and bowls. The new location will be the seventh for Ascension, which has others in Dallas, Addison, Coppell, Frisco and Fort Worth. https://ascension.coffee
2. Pull Through Coffee Bar
Pull Through Coffee Bar, a new cycling-centric coffee shop, is scheduled to open near White Rock Lake on Feb. 25. The coffee shop will be located at 4875 W. Lawther Drive, Dallas, inside Dallas Bike Works, a popular local bike shop. In addition to inside seating, the coffee shop will have a walk-up window for outdoor ordering. The shop will serve a variety of coffee drinks made with Cultivar Coffee, a Dallas-based coffee-roasting company. It will also offer pastries from Leila Bakery & Cafe, a local business in East Dallas, and tea from Rakkasan Tea Co., a local tea vendor.
Owner Christina James said she plans to offer other health-conscious options from locally sourced small businesses. She hopes to offer beer and wine in the future, once she gets the licensing to do so. The coffee shop does not have a website yet, but James said those interested in the shop can stay updated through the business’ Instagram page. 469-668-2663.
3. Black Sheep Coffee
Black Sheep Coffee is bringing its coffee shop concept to the U.S. with a planned location at 6240 E. Mockingbird Lane in Dallas. A spokesperson for the U.K.-based coffee chain said a specific date for the opening has not been set. However, Black Sheep expects to open within the first half of the year.
Black Sheep serves a variety of coffee drinks, smoothies and shakes, along with Norwegian waffle snacks and packaged coffee beans. The company has additional locations in the U.K., France and the Philippines. https://leavetheherdbehind.com


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Lotus Evora GT410 Sport on sale now
New Evora is a toned-down version of radical GT430 model
British sports car manufacturer Lotus has unveiled the GT410 Sport, the latest addition to its Evora range.
Much like its Porsche 911 rival, the Evora range boasts a number of incrementally faster and more focused models; the GT410 Sport slots in below the GT430 and its Sport version, but above the standard GT410 and GT400. The new car replaces the current Evora Sport 410.
The new car uses the same 3.5-litre V6 petrol engine as other Evora models, albeit tuned to produce 404bhp. The result is a 0-60mph time of 3.9 seconds with an automatic gearbox, or 4.0 seconds with the manual.
Lotus has stuck to what it knows best and ‘added lightness’; the GT410 weighs just 1,297kg unladen. Weight-saving features include a titanium exhaust and specialist Öhlins dampers in the car’s suspension setup, along with a plethora of carbon fibre body parts. The result is a car that weighs 98kg less than the standard Evora 400.
Other changes include optimised aerodynamics thanks to new front and rear bumpers with carbon fibre ducts, blades, a front splitter and rear diffuser, all of which help cut down on drag and increase downforce. At the car’s top speed of 190mph, there’s 50% more downforce than the old Sport 410 model.
Adjustable suspension and Michelin Pilot Sport 4S tyres will help the GT410 handle as well as a Lotus should, while the four-mode electronic stability programme (ESP) can be used to tailor the car to the driver’s needs with its Drive, Race, Sport and Off modes.
The Evora GT410’s interior is trimmed in swathes of black Alcantara, from the seats to the dashboard and doors. Optional Sparco race seats are available, and buyers can choose a two-seater or 2+2 layout, though adding extra seats means adding a specific set of wheels, according to Lotus.
On the infotainment front, there’s a seven-inch touchscreen system that features Apple CarPlay and Android Auto compatibility, Bluetooth connectivity and the display for an optional reversing camera – a useful option given the GT410’s slatted rear window.
The options list is long and varied; Lotus offers all of its customers the chance to personalise their car through its popular Lotus Exclusive programme. The company claims that ‘roughly a third’ of new Lotus cars are customised in this manner.
The Lotus Evora GT410 is available to order now, priced from £85,900.
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In just two weeks, the $350 billion Payroll Protection Program and Economic Injury Disaster Loan for small businesses ran out of money.
As Chair of the Small Business Committee for the City Council, Mark Gjonaj has heard the cries from his constituents and demands the federal government do more to help them.
“While I appreciate that there are valid concerns on both sides of the aisle, now is the time for Washington leaders to step up and deliver for small businesses,” Gjonaj said. “Every day that these programs go without funding means the loss of jobs and the likelihood that even more businesses will never open their doors again.”
According to data, 19 percent of the jobs in the borough are in the retail and restaurant industries. With many of them shuttering, many people in the Bronx are struggling.
While the government is in the process of securing an additional $250 billion for small businesses, the councilman said that more needs to be done.
According to Gjonaj, the government must mandate that participating banks not require an existing relationship to accept applications; include more credit unions and regional or community banks to help reach a broader range of small and micro businesses; develop a substantial outreach program to include more minority and women-owned businesses; increase the percentage of borrowed money that can be applied to rent, mortgage interest payments and allow payment of property taxes as acceptable expenditure of loan money.
“Politicians often use platitudes such as ‘economic engine’ and ‘economic backbone of our nation’ to describe the importance of small businesses to our country,” Gjonaj said. “Now is the time to put action behind those words. Small businesses and their employees demand that you take immediate action before it’s too late.”
Gjonaj’s Chief of Staff Reggie Johnson spoke with the Bronx Times about what it has been like for small business owners during the COVID crisis. With the stimulus money gone, Johnson questioned how these people will stay afloat.
Johnson noted that pizzerias and florists should be getting money, not small hedge fund companies that make millions or large steakhouses like Ruth Chris, which just received $20 million.
“Right now the small businesses are struggling and there’s nothing there to help them,” he said.
Johnson said he has been getting calls every day from business owners. One that stood out was a dentist in the Bronx who was crying and brought him to tears as well. He told him he was going to have lay people off who have been with him for years.
“There are some people who aren’t going to be okay,” Johnson remarked. “It’s hard to have those conversations.”
According to Johnson, Gjonaj and the staff envisioned the coronavirus would hurt retail but never this bad.
“We anticipated it, but you can never truly appreciate what it’s like until you have to make those calls,” he said.


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Google is working hard to make sure self-driving cars are the next big thing. Their project even has General Motors looking in the rear-view mirror. However, there may be a few bugs to work out first. Conan O’Brien gives us the behind-the-scenes scoop.
Yeah, the car could probably do with just a few more rounds of beta testing. Although, I think we all know what’s missing…
Visit the Team COCO website for more great videos like this.


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This article originally appeared in OpenForum, reprinted with permission.
Izzy Goodman, owner of CCS Digital, a seller of ink cartridges, knows a thing or two about handling a surge in customer complaints. About a year ago, he received an odd complaint: the customer’s printer couldn’t recognize the cartridge. Soon after, Goodman got a similar complaint from a second customer.
So, Goodman examined one of the cartridges that he had on hand and discovered the chip, which the printer reads to recognize the cartridge, was different from others made previously by the same manufacturer.
Goodman promptly took action. He contacted his manufacturer, who admitted the company had started using material from a different vendor. Then he tapped a higher-priced supplier that he hired in emergencies and combed through his inventory to remove any bad cartridges. What’s more, he sent a replacement to every customer who called with a complaint, along with an extra, also giving anyone a refund who asked for one. Total number of replacements: 200 cartridges.
In the end, it was well worth the effort and expense, since he was able to keep almost all of the customers who had received the faulty merchandise. “We’re a small family-run business, but this was an investment toward the future,” says Goodman.
Even the best-run business receives customer complaints once in a while. But, when you start getting an unexpected surge or an entirely new crop, it can be particularly troubling. Still, with the right response, you can quickly address the problem -- and even use the situation to strengthen relationships with customers. According to Ann Thomas, principal with Anne Thomas & Associates in Minneapolis and an expert in customer service, customers who complain and are satisfied by the company’s response are 30 percent more loyal than those who never make a fuss.
How to react the right way? Follow these four steps to handling customer complaints:
Make sure your front-line employees know what to do. Those staffers likely to be the first to receive complaints need a system for sharing that information with their group or boss. By doing so, they’ll quickly be able to tell when a new pattern of problems has arisen. “You need to send a message to those employees how important it is to get that information out to the rest of the organization,” says Thomas.
Respond to customers ASAP. “Focus on the person first,” says Thomas. That means listening politely, allowing the customer to vent, if necessary, and assuring the individual you’ll take care of the problem immediately.
Take, for example, Richard Hayman, president of Just Moulding in Gaithersburg, Maryland. Recently, the firm started receiving complaints about cracking chalk used when installing crown molding. Since the calls were coming into the company’s two offices, he knew the problem was with the chalk. First thing, employees returned the calls quickly and, in addition, asked customers to call immediately if they saw more cracks. Then, in response to each complaint, they sent an installer the next day to reapply the chalk. “The trick in handling complaints is to listen and respond quickly and without hesitation,” says Hayman.
When you speak to customers, you also can ask whether they want updates about steps you’re taking to address the problem. “Send out frequent messages to let them know they’re not being ignored,” says Rebecca Morgan, author of Calming Upset Customers (Axzo Press, 2010) and a San Jose, California-based customer service specialist.
Determine the root cause. Just because you know customers are reporting that, say, they’re receiving damaged goods, doesn’t mean you know what’s created that problem. You might have a new employee in shipping who hasn’t been trained adequately. Or, alternatively, your supplier might be using different, substandard materials.
The key is asking customers some important questions as soon as they start complaining. Examples: What was the problem? When did they notice it? Were there instructions that weren’t clear? Thomas points to a retailer selling house wares that recently started getting calls about a defect in a particular product. After customer service reps began asking the right questions, they realized there was a defect caused by a change in the manufacturing process. The company ended up dropping the product.
Another tack is to use software to track complaints, by assigning a specific code to particular issues. A toy maker, for example, might include codes for such problems as “defective product,” “confusing instructions,” or “unwieldy packaging.” “It allows you to get a bigger picture from a bunch of individual complaints,” says Jeff Susich, who heads Customer Care Outsourcing, a customer service consultancy in Cincinnati.
Contact the culprit. When you’ve determined the cause of the complaint, you’ll have to approach the people involved to see about fixing it -- even if the client is partially at fault. Thomas points to a relocation company that recently started getting word that employees at one client weren’t receiving their checks quickly or were being paid the wrong amounts. The issue, it turned out, was partly that the company hadn’t clearly communicated the reimbursement process. But, also, the client’s accounting office was taking too long to approve payments. After the company explained the situation, the client made some changes and fixed the problem.


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Eurozone Economic Confidence Continued to Fall in July
Economic sentiment across the euro area weakened in July, pulled down by less optimism in industry and the retail sectors, despite a better mood in services. A monthly survey of the European Commission showed the Eurozone economic sentiment indicator eased to 112.1 points in July form 112.3 in June, continuing a downward trend started since a peak of 115.2 last December.
Eurozone business climate indicator fell to 1.29 in July from 1.38 in June. Eurozone Industrial confidence indicator slipped to 5.8 from 6.9. Meanwhile, Eurozone Services sentiment improved to 15.3 in July from 14.4 in June, while consumer sentiment held stable at -0.6 points, high above the long-term average of -12.2.
A survey also showed, that consumer inflation expectations over the next 12 months grew to 18.0, close to the long-term average of 18.6. Selling price expectations in industry fell to 9.7 in July from 10.1 in June.


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Intel announced on Thursday that Brian Krzanich will succeed Paul Otellini as the company's new chief executive officer, effective May 16.
In November, Otellini—who has worked for Intel for more than 40 years—announced that he planned to soon retire from the company.
The board of directors unanimously elected Krzanich, who has served as the company's chief operating officer since 2012 and first joined the company in 1982, to become Intel's new CEO.
Otellini will continue to serve as an adviser to the company's management team after his departure.
The board of directors also announced that Renee James, the former chairman of Intel's software subsidiaries, will assume the role as president of the chip maker also beginning on May 16.


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Back at CES 2021 we saw (virtually) that the year ahead would be the start of LCD TVs with mini-LED-based display technology. Now, with LG launching its TVs in July, the games begin.
- Samsung’s Neo QLED TVs offer mini-LED backlighting, with models including the 8K QN900A selling now for around $5,000 or so, with a range of screen sizes.
- LG announced its QNED technology as its first-ever mini-LED display, but until now, hadn’t put out its range.
- There’s a nice deep write-up explaining LG QNED vs Samsung Neo QLED next-gen display tech, though the reality is they’re going to be fundamentally similar.
- OLED TVs remain the benchmark for superior contrast ratios, but mini-LED tech goes a long way towards closing the gap, while presenting advantages like a much brighter display, and, in theory, much longer endurance and reliability given that OLED is generally less robust.
- Last thing: Micro LED displays are the next great technology, offering the same per-pixel lighting of OLED, but without organic thin film, meaning smaller LEDs, brighter displays, and faster response times too. It’s a clear winner if the technology can be perfected, and Samsung does sell these TVs for more than $100,000 right now.
- Now LG announced it is getting its promised TVs to retail: It now offers an 8K QNED99 and QNED95 series models along with 4K QNED90 series models, in a range of sizes.
- Pricing wasn’t released yet but given it is a new technology, it isn’t exactly cheap. The only reference I’ve seen is a previous report from FlatPanelsHD, listing the 8K QNED99 at $5,000 for the 75-inch model, while the 4K QNED90 was listed at a reported $4,000 for the 86-inch model.
- LG says of its 86-inch 8K TV, “30,000 LED lights arranged to create about 2,500 local dimming zones to deliver 10 times better contrast ratio than conventional LCD TVs.”
By the way, mini ain’t mini:
- So, 30,000 tiny little LEDs offer way more dimming zones and performance than older types of LCD LED TVs. It’s still a lot of LEDs, and a better TV display than anything other than OLEDs.
- But the “mini” term for LED sizes is absolutely nothing like a standard.
- For example, Apple’s latest 12.9-inch iPad Pro, with mini-LED tech (which Apple calls “Liquid Retina XDR”), packed 10,384 LEDs (techinsights.com) in an area that’s close to 97.5% smaller (displaywars.com).
- That means you can fit about 39 iPads into the same size as LG’s monster 86-inch TV.
- And if you did that, it’d give you something like 410,000 mini-LEDs! Check my math! (Wolfram Alpha).
- I’d expect Samsung and LG to keep climbing up the mini-LED counts over the next generations….
📂 Foldables: A fresh Galaxy Z Fold 3 leak gives us plenty more renders to look at, and here’s our first detailed look at the Samsung Galaxy Z Flip 3: attractive two-tone design, a larger outer display, and an under-display camera (Android Authority).
🔜 Samsung phone, likely Galaxy S21 FE, just hit the FCC certification pages (Android Authority).
⚓ Yes, Windows 11 was just ported to a six-year-old smartphone (Android Authority). Also, Windows 11 includes new Dynamic Refresh Rate feature to save laptop battery life, dropping refresh rates just like Android smartphones do (The Verge).
🐚 How’s your Google Pixel 5 outer shell holding up? (Android Authority).
🔽 Netflix introduces new features for watching partially downloaded content, but only for Android and not iOS (yet) (Ars Technica).
💻 Xiaomi’s new flagship laptop packs an OLED screen, Intel 11th Gen CPUs, but no word on availability outside of China (Android Authority).
👉 GitHub and OpenAI launch a new AI tool that generates its own code as you write it — still in a restricted technical preview for now (The Verge).
✉ Steve Jobs emails Bill Gates: February 3, 1998 (Twitter).
🛍 Shopify dropped its App Store commissions to 0% on developers’ first million in revenue, just like Apple, Google and Amazon, and its flat fee dropped to 15% too. Also, a new Online Store 2.0 debuted for ecommerce operators (TechCrunch).
🎮 Control, easily one of the more memorable games in recent years, is getting a co-op spin-off(Engadget).
🌊 An actual space laser shows how catastrophic sea-level rise will be (Wired).
🚀 After the 20th SpaceX launch of the year was halted just seconds before launch, Elon Musk calls rocket launch regulations ‘broken’ (CNBC).
🛫 AirCar prototype completes its first inter-city flight (Engadget).
🧬 What mRNA is good for, and what it maybe isn’t (Science).
🥚 “ELI5: What determines whether a hard boiled egg is easy to peel or not?” (r/explainlikeimfive).
No one imagined giant lizard nests would be this weird, writes The Atlantic, digging up the dirt on a dirt-digging lizard that no one expected would dig up so much dirt just to bury some eggs.
I mean, look at this corkscrew nest (image via The Atlantic):
- The yellow-spotted goanna’s nests are deeper than other creatures known for corkscrew nests, including scorpions and an extinct beaver — extending as far as 13 feet below the surface.
- “That’s a ridiculous depth,” said Sean Doody, a herpetologist from the University of South Florida.
- He explains: “The yellow-spotted goanna faces a unique challenge. Its large eggs need to incubate for eight months before hatching — a period that takes them through Australia’s brutal dry season, when several months might go by without any rain.
- “At shallow depths, the eggs would cook and desiccate. Only in deeper soil, which is cooler and wetter, can they survive.”
Tristan Rayner, Senior Editor


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It's one of those good news/bad news situations, and the bad news isn't even all that bad.
Earlier, Ubisoft revealed a September 20 release date for the PlayStation 3 version of Child of Eden , Tetsuya Mizuguchi's colorful and unique title. But the publisher has announced a small delay:
It'll now launch a week later on September 27 but at the same time, the game will boast support for both PlayStation Move and 3D. These features had been anticipated (but not officially confirmed); the Xbox 360 version had Kinect compatibility, which was a primary appeal. As for the game, if you're at all familiar with Q Entertainment's Rez , a cult classic from the last generation, you'll understand the music-based, psychedelic approach. And yeah, there's a storyline (something about reproducing human personalities and fending off a virus) but that's hardly the focus.
So September 27 is the day. Let's hope PS3 owners give it a warmer welcome than 360 owners did.
Related Game(s): Child of Eden


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SCBX and Hashed Ink Announce Partnership for Web3 Adoption
Thailand’s SCBX, the digital assets arm of a major financial institution, has entered into a partnership with Hashed Ink, one of Korea’s prominent Web3 investors. The collaboration aims to promote the adoption of decentralized technology both regionally and globally. Through joint research and development initiatives and events, SCBX and Hashed will leverage their respective expertise to nurture the growth of the Web3 ecosystem. The partnership signifies the merging of SCBX’s reputable institution with Hashed’s technological and philosophical foundations of Web3.
SCB’s Commitment to Crypto and Web3
While many financial institutions in Asia remain cautious about cryptocurrencies, SCB has shown a strong commitment to the market. In 2021, SCBX, the venture arm of SCB, announced the launch of a $50 million blockchain fund. This recent partnership with Hashed Ink further demonstrates SCB’s dedication to exploring and investing in emerging technologies. Kasikornbank (KBank), SCB’s cross-town rival, has also entered the web3 space by launching a $100 million fund dedicated to web3 and AI.
Focus on Web3 Technologies in Southeast Asia
As part of the collaboration, Hashed Ink’s research hub, ShardLab, will conduct tests on Web3 technologies. Hojin Kim, Chief Strategy Officer at Hashed’s startup studio UNOPND, highlighted the potential for digital transformation in Southeast Asia’s business environment. He emphasized that there is room for improvement in terms of digital services for retail customers in Southeast Asia, as banks and e-commerce platforms are still evolving. The joint effort between SCBX and Hashed aims to address these pain points and drive digital transformation in the region.


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Sony has "completely redesigned" the PlayStation Now app on PlayStation 4, giving it a major makeover in an overall effort to make it more visually appealing and easier to navigate and discover new games.
PlayStation Now is Sony's game streaming service that originally launched last year.
The new PlayStation Now UI features sections of games filtered by theme. What's more, game pages have been beefed up and now feature more in-depth descriptions, along with new images and videos.
There are currently more than 125 PlayStation 3 games on PlayStation Now, and the service is growing further in July. Sony normally adds five new games to the platform per month, but, to mark the UI makeover, the company has added six to the service this month. This month's "bonus" game is Resistance 3.
Below are PlayStation Now's six new games for July, which you can rent individually or through the platform's subscription plan.


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The Travel Corporation (TTC) has announced a new initiative, adding to its comprehensive, new wellbeing and hygiene measures for every guest and team member.
Fully appreciating clients’ understandable concerns in this new post Covid-19 world of travelling, the company is investing in a newly conceived, dedicated wellbeing director position who will be present on every Trafalgar, Insight Vacations and Luxury Gold guided holiday (excluding Australia and New Zealand).
TTC has already been an industry leader in establishing enhanced hygiene measures and physical distancing standards.
The company has been collaborating closely with the World Tourism & Travel Council (WTTC) to help guide and co-create its “Safe Travels” global protocols .
TTC announced its stringent on the road protocols earlier this year, which align with relevant, existing government authorities’ regulations and the World Health Organisation (WHO) guidelines.
These protocols will evolve and be adapted as further government regulations are implemented.
The addition of a dedicated director on every trip will help ensure adherence to all standards and that guests can remain up-to-date with the latest guidelines and recommendations.
Working alongside an…


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NEW YORK (CBS.MW)-- Investor's thirst for semiconductor stocks couldn't be quenched Monday, after a bullish report outlined signs of industry growth and encouraged buying of stocks such as Intel and Micron Technology.
The gains bolstered most technology stocks, pushing up the Nasdaq $compq 77.63 points to a new high of 4,320.77.
The Philadelphia Semiconductor Index SOX, -1.93% jumped 4 percent to a new high of 902.86. A report from the Semiconductor Industry Association showed that worldwide semiconductor sales totaled $149 billion, up nearly 19 percent from last year. See Tech Report.
"This industry has had nothing but good news for the last 15 months," said Tim Summers, senior director at Advest, Inc.
Shares of Intel INTC, -0.56% -- whose microprocessors provide the "brain" of personal computers and include the Pentium and the low-end Celeron -- rose 3 1/8 to 107 7/8. Intel's stock, a component of the Dow, was just a few points shy of its record high of 108 1/4 marked on Friday.
Also joining Intel in the winners circle: Micron Technology MU, +0.00%, up 6 1/2, or 9 percent, to 73 7/8; Altera ALTR, +0.60%, which rallied 3 15/16 to 76 7/16 and LSI Logic ", which gained 8 to 99 1/2. See Hardware Report.
Mergers stirred up Internet and software shares. The CBOE Software Index rose 0.8 percent. The Goldman Sachs Internet Indexpicked up 1 percent, and the Amex Internet Index added 1.4 percent.See Net Stocks.
Shares of Silknet Software's SILK, -0.09% grew32 percent to 183 5/16 on news the company agreed to a merger with Kana Communications in a deal valued at $4.2 billion.
Intervu itvu rose 12 3/8 to 129 3/8 after the company said it'll be acquired by Internet service provider Akamai Technologies AKAM, +1.27% in a stock deal valued at $2.8 billion. Akamai shares fell 6 3/8 to 228 5/8.
Corel corl said it's agreed to buy software maker Inprise/Borland INPR, +0.00% in a deal the companies have pegged at $2.44 billion. Shares of Inprise rose 5/16 to 13 1/4, while Corel dipped 11/16 to 19 5/16.
Rounding out the new unions, Lucent Technologies lu agreed to buy Ortel Corp. for $2.95 billion, allowing the networking equipment maker to offer technology that enables cable TV systems to provide phone service and high-speed Internet access. Lucent's stock fell 1/2 to 56 1/2. See full story.
Bulls bid up big-cap stocks
Shares of Oracle ORCL, +0.04% lent a hand to Nasdaq gains. The stock rallied after analysts at Merrill Lynch raised their price target to $70 a share, saying further gains are likely this spring as company continues to expand margins and drive new offerings. Shares of the database management software giant rose 2 1/8 to 59 15/16.
In the personal computer space, shares of Dow component Hewlett-Packard hwp rose 10 3/8 to a record-high of 128 3/8.
Salomon Smith Barney raised its first-quarter earnings estimate by 4 cents to 79 cents a share, citing strong business in Asia and the printer and PC businesses. Analysts surveyed by First Call expect H-P to earn 77 cents a share when the company reports earnings Feb. 16.
Expectations for strong earnings from networking equipment maker Cisco Systems CSCO, -1.05% sent its shares to a corporate record high. The company is slated to report second-quarter earnings Tuesday after the market closes. The First Call consensus estimate is a 23 cent per-share profit. Shares were up 4 1/16 to 125 3/16.See full story.


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Kuwait Holiday for Isra and Al-Miraj on April 4th – 2019
Isra and Al-Miraj holiday will be on Thursday, April 4th.
With the weekly holiday on April 5th Friday and 6th Saturday, the next working day will be 7th April Sunday, reported local media Al Anba newspaper.
According to report, a previous decision of the Council of Ministers approved that the holiday of Isra and Al-Miraj can be shifted to the nearest weekend holiday if it comes on any day in the middle of the week.
Kuwait Holiday for Isra and Al-Miraj holiday on April 4th; Three days public holiday


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SHOP ON-LINE AT
OPTICAL AND HEARING
2006 Porsche 911 Carrera 4
11th July, 2005
Porsche prepares for the next period in its future
Dr. Ing. h.c. F. Porsche AG, Stuttgart, is preparing for the next period in its future with the imminent securing of a long-term agreement for Porsche locations at Zuffenhausen and Ludwigsburg, along with Weissach for the first time. This latest development coincides with news that Porsche Group sales are up 13.3 per cent for the first 10 months of the 2004/2005 fiscal year (31st July).
The aim of the location agreement is to guarantee employment for the permanent staff through to 2010 by creating more flexible working hours and increasing productivity. This development follows the successful visit by Chancellor Gerhard Schröder last week at the Works Meeting of Dr. Ing. h.c. F. Porsche AG, Stuttgart.
Schröder was impressed by the commitment shown at Porsche and the efforts to increase the Company's competitiveness and secure jobs. Schröder stated: "Porsche proves that a German company can be extremely successful in international competition. The secret of its success lies in its magnificent vehicles and an exemplary culture of co-operation between the employer and the employees."
It was a great honor for the Chairman of the Group Works Council, Uwe Hück, to be able to report on the current status of negotiations to secure the locations in the presence of the German Chancellor. He appeared certain that it will soon be possible to sign the agreements. The Chairman of the Joint Works Council listed some cornerstones of the agreement to secure locations; which included investments in bodyshell assembly, assembly, and paint shop systems. A key aim of the agreement should be that it will be possible to build more vehicles in Zuffenhausen, further underlining the importance of Porsche's headquarters. Zuffenhausen's strong position should be emphasised by ensuring that all engines continue to be manufactured there in future, and that full vehicle manufacture of the 911 as well as the production of Boxster models remain at this location.
The CEO of Porsche AG, Dr. Wendelin Wiedeking, also stressed the importance of the new agreement to secure locations. Wiedeking announced: "Above all, the agreement will provide clear proof of Porsche's loyalty to its Zuffenhausen headquarters. In the 911 and the Boxster, we are making vehicles right here that make this sports car manufacturer unmistakable, vehicles that help to make "Made in Germany" a seal of quality sought after all over the world. We want things to stay this way in the future."
However, the location agreements do not include Porsche’s production facility at Leipzig, which is subject to separate industrial agreements.
The imminent securing of the Zuffenhausen, Ludwigsburg and Weissach location agreements comes as Dr. Ing. h.c. F. Porsche AG, Stuttgart, announced its results for the first 10 months of the 2004/2005 fiscal year (31st July); showing that between 1st August, 2004 and 31st May, 2005, Group turnover rose by 5.4 per cent against the same period during the previous year to 5.34 billion euros. Production and sales were also up for the period despite persistently difficult worldwide economic conditions.
During the first 10 months of the current fiscal year, Group sales increased by 13.3 per cent to a total of 69,685 vehicles (previous year: 61,496 units). This figure primarily reflects the successful launch of the new sports car generations, which have been met with an outstanding response from customers worldwide.
To the end of May 2005, sales of the 911 series had risen 21 per cent to 22,973 vehicles. Sales of the Boxster also grew, in this case 16 per cent to 12,166 vehicles. The sporty Cayenne SUV continues to enjoy high demand, having sold 33,997 units (up 6.6 per cent). The high performance Carrera GT sports car sold 549 units during the first 10 months (previous year: 124 vehicles).
Porsche has again extended its production volume. A total of 72,942 vehicles were built during the first 10 months of the current fiscal year (up 9.8 per cent), with the Cayenne responsible for the largest share with 33,855 units (down 2.2 per cent). Production figures for the 911 rose 12.1 per cent to 23,033 vehicles, while a total of 15,483 Boxsters (up 39.2 per cent) and 571 Carrera GT were built (previous year: 174 units).
Porsche is heading toward an all-time high in sales during the current fiscal year 2004/2005. It is anticipated that a total of more than 80,000 vehicles will be sold compared to 76,827 the previous year.


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Three years ago, Cook County, Illinois passed a bill to create an online registry for convicted animal abusers. While the database was created, it went completely unused until CBS2’s report last week.
Now, Senator Tom Cullerton plans to introduce a similar bill on a statewide level. If passed, it will become much more difficult for offenders to get their hands on more victims.
Cullerton’s bill would prevent convicted animal abusers from purchasing or adopting another pet for seven to 10 years. It would also call for the establishment of an online state police database. Rescue groups, shelters, and pet stores could then search the database before approving an adoption or sale.
“I just don’t want these animals to get in the wrong people’s hands,” Cullerton told CBS2, “and if you have a history of violence against animals, you shouldn’t be able to just walk into a pet store and pick out another animal you’re going to abuse, because you have something wrong with you.”
Cullerton plans to reintroduce the bill in January during the next legislative session. If passed, any offender living within the state of Illinois will appear on the registry.
“Once you’re convicted, that information will go to the state police and they’ll put it right up on the registry,” Cullerton said, “and we will try to offset that by whoever is convicted will also have to pay a fee that will offset the cost of the registry as well.”
Tennessee has the only active statewide animal abuser registry, although several states have proposed similar legislation. While these databases may seem like a good idea, there are several potential issues, including the fact that offenders can still obtain pets from breeders and re-homing sites.
For more information, view the official ASPCA position statement on animal abuse registries.


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The cryptocurrency market saw a severe drop in 2022, but one innovative project is unafraid of setbacks. Gunstar Metaverse Token demonstrates that it has the capacity to recover in the next years and will grow to be a significant player in the cryptocurrency industry. GSTS will cost more in 2023 than the current forecasted introductory price of $0.005408 for the year.
We may anticipate the Gunstar Metaverse coin to make consistent increases throughout the year, starting a trajectory of growth that will last for years to come. GSTS will be a significant driver of investor interest and contribute to a general trend of higher crypto trading and expenditure as the market starts to recover throughout the course of 2023.
The cost of GSTS is anticipated to increase by approximately 18% by the end of 2023 from its current price of $0.005408. But investors won’t be the only ones who benefit from this high return. Businesses and shops will be more likely to accept GSTS as a form of payment as the public’s enthusiasm for blockchain adoption grows, which will further boost the token’s value.
2024: Bullish Momentum
The excellent performance in 2023 will pave the way for an even better showing in 2024. Strong price increases for the token are anticipated as a result of the favorable circumstances brought about by a resurgence in public interest in cryptocurrencies as well as growing public support and acceptance.
The price of GSTS is predicted to begin the year at $0.006351 and rise sharply during the year, peaking at $0.009756 by the end of 2024, an increase of more than 53%. The expansion of GSTS will be unstoppable in the upcoming year as retail and merchant acceptance for the token rises coupled with greater investor trading.
2025: Bracing for a Boom
This impressive showing will open the door for more improvements in 2025. The ideal conditions for price increases will be produced by a mix of investment confidence, public backing, and growing retail use of GSTS.
By the end of 2025, the token is anticipated to climb by more than 76%, from its current price of $0.009756 to $0.017254. Both fundamental and technical elements will influence this performance. Fundamentally speaking, as more companies adopt GSTS as a payment option, improving blockchain technology will result in cost savings and increased efficiency. Smart investors will aim to profit from positive technical indicators, which will encourage trading and raise the price.
2026: A New Chapter
The bullish trend will be robust as Gunstar Metaverse reaches 2026, causing more increases in the token’s price. Investors will be even more motivated to join the GSTS bandwagon as a result of the growing business and retail acceptance of the system, which will raise the price even further.
By the end of 2026, GSTS is anticipated to have increased by almost 109% from its current price of $0.017254, commencing the year. As more businesses benefit from the scalability and security provided by the blockchain, the technological solutions presented by the team will prove to be a significant pull in addition to greater trading in the token.
2027: Exploring Further Potential
2027 will see a continuation of the tremendous growth from the previous year as Gunstar Metaverse continues to develop. As the public and private sectors benefit from the strengths of the blockchain, the token’s recent surge in popularity among companies, retailers, and investors will result in significant advantages.
The price of GSTS is anticipated to rise 97% from the beginning price, from $0.036138 to $0.071494 by the end of the year. The year will be overall bullish due to increased trading activity on the market and the token’s beneficial attributes, with traders and investors benefiting.
2028: Bullish Retains Momentum
The market will continue to be hungry and eager to invest in this token until 2028, maintaining GSTS’s upward trend from the years before. With a starting price of $0.071494, the growth from the previous year will be maintained, and by the end of the year, the token will have increased by 118% to $0.155060.
This remarkable rate of growth will be fueled by continued token acceptance in the public and private sectors as well as rising investor awareness. Demand will rise as a result of GSTS’s rising acceptance in the payments industry for both private and business transactions.
2029: Making Waves
The year 2029 will be no different from the years before, with the token continuing to make huge gains. GSTS is positioned to make a significant impact on the cryptocurrency landscape as the industry favors blockchain solutions more and more.
GSTS is anticipated to increase by 98% from the start of the year to complete the year at a high of $0.308061 from a starting price of $0.155060. As the number of users grows and scalability and security issues are resolved, there will be more demand for the token, which will raise the price of the token even further.
2030: Preparing For Liftoff
GSTS is anticipated to increase by almost 56% from its anticipated starting price of $0.308061 to $0.482791 by the end of 2030. The token will become more and more competitive with other coins and fiat money as it gains stability and acceptability across industries.
These increases will be fueled by rising investor trust in the token as well as the adoption of GSTS as a payment solution by more companies and shops. As the token’s scalability and security continue to grow, the team’s ongoing improvements will also be felt.
Growing public acceptance and advanced technology will have a significant impact on the course of Gunstar Metaverse from 2023 to 2030. Things are looking up for GSTS in the next year’s thanks to increased interest from businesses, retailers, and investors as well as improvements in the token’s features and scalability. In 2030, GSTS is expected to reach a final value of $0.482791, making it a significant player in the cryptocurrency market.
Gunstar Metaverse’s price is unknowable. Investor emotions, market conditions, and news drive cryptocurrency prices. Coin prices fluctuate quickly. Investors should investigate cryptocurrencies before investing.
Gunstar Metaverse may be affected by the 2022 crypto market meltdown. Watch crypto news and invest cautiously. Investors in crypto assets should have a strategy.
Investors should know that numerous factors affect bitcoin prices. Investor attitude, market conditions, technology, and news are examples. Investors should evaluate market circumstances and news before making a GSTS price prediction.


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Yesterday, Apple won an injunction against Samsung for the sale of the Galaxy Tab 10.1 in the EU. Today it was revealed by Foss Patents that Apple has filed a motion with same court regarding the Motorola Xoom.
The document doesn’t say whether or not Apple specifically filed for an injunction against the sale of the Xoom, but merely that it has filed suit in the court claiming that the device infringes on the design of Apple products.
Motorola actually filed a suit against Apple last October, claiming the company was infringing on 18 Motorola patents, a suit which Apple responded to with another lawsuit weeks later regarding patents it felt Motorola was infringing on.
What do you think about the current patent war going on in the tech industry? The companies involved do have a right to sue those the think are infringing on patents they own (that’s the whole point of having a patent in the first place), but it seems like that has started to get out of hand. What do you think will happen when all is said and done? Who will win?


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President Trump often spoke about “forgotten men and women” on the campaign trail – the people left behind by Washington, whose voices went unheard and questions went unanswered. On Election Day, these “forgotten” Americans sent a clear message: they wanted the government to listen to their economic concerns. This should have been a signal to government officials to start taking the concerns of Americans in rural and disadvantaged communities more seriously.
However, four months into the new administration, many in government are going about their business as usual and have not learned anything from the results of the election. The CFPB is a perfect example – of an agency unwilling or unable to change its agenda even when it goes against everything consumers are telling it.
I have seen firsthand the negative impact that the status quo is having on small and medium-sized businesses across the country, as the President & CEO of the United States Hispanic Chamber of Commerce (USHCC). The USHCC represents more than four million Hispanic-owned businesses across the country that contribute $668 billion to the U.S. economy. Yet despite this, our members consistently seem to be left out of conversations about policies that will directly impact Hispanic communities.
The success of small businesses is dependent on access to capital. Without it, entrepreneurialism is stifled. The Federal Deposit Insurance Commission (FDIC) reports that between 2010 and 2014, the number of small community banks with less than $10 billion in assets declined 14 percent. Without banks available to serve their needs, many of our members depend on non-bank sources of credit, such as small-dollar loans. But instead of looking for ways to expand access to credit, the CFPB is currently considering a rule that would restrict access to credit options even further.
New regulations like those proposed by the CFPB can have a particularly negative effect on members of my association and our communities. They often mean increased compliance costs for small businesses or, especially when it comes to financial regulations, raise the bar for consumers to access funds or credit used to patronize my members’ small businesses.
This latest rule is no different. The CFPB has not considered the impact that its proposed rule will have on Hispanic communities across the country. Its actions will have a trickle-down effect, impacting not just individuals but small businesses. The CFPB’s own estimates suggest that its proposal would reduce small-dollar lending storefronts by 66 percent. If those stores are forced to close, it would cut off one of the only sources of credit available within many communities and put thousands of people out of work.
What’s more, people who use small-dollar loans during financial shortfalls value having that option available to them and are satisfied with their experience. The CFPB’s consumer complaint portal provides an outlet to tell the CFPB when they encounter problems with financial products, and hundreds of thousands of people have done so. The CFPB, in theory, uses these complaints as the “compass” that directs its enforcement and rulemaking actions. Its small-dollar lending rule, however, targets a product that receives only 1.5 percent of all complaints and effectively eliminates a product that millions of people depend upon.
During the comment period for this small-dollar lending rule, my organization spoke on behalf of our millions of members and told the CFPB that its proposal would not only restrict access to credit across the country, but would have a disproportionate impact on minority communities. In addition, over one million customers who use small-dollar loans to manage unexpected or emergency expenses submitted comments as well, telling their personal stories of how access to this product helped them through difficult times. Despite this, the CFPB has continued with its rulemaking and does not appear to have taken our very serious concerns into consideration.
The election results show that there are very real consequences when Washington ignores the voices of American consumers. Small business owners and consumers alike have made it clear that the CFPB’s proposed rule will restrict access to small-dollar loans and have very real consequences for the most dynamic entrepreneurial segment of the American economy. The CFPB still has time to take this into account and change its rule. The “forgotten” Americans are telling the CFPB what they need. The question that remains is whether the CFPB will listen.


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Find Mama's Borscht Recipe: Russia to Ban Food Imports from US, EU
Tit continues to meet Tat.
Russia will ban all imports of food from the United States and all fruit and vegetables from Europe, the state news agency reported on Wednesday, a sweeping response to Western sanctions imposed over its support for rebels in Ukraine.
The measures will hit consumers at home who rely on cheap imports, and on farmers in the West for whom Russia is a big market. Moscow is by far the biggest buyer of European fruit and vegetables and the second biggest importer of U.S. poultry.


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UK government could sell off Lloyds bank stake in 2014 -Telegraph
Dec 30 (Reuters) - The British government could sell off all of its 18.4 billion pound stake in the Lloyds banking group in 2014, the Daily Telegraph reported, citing unnamed sources.
The newspaper reported that the entire government holding could be sold off in the next 12 months in a combination of retail and institutional offerings.
"Post-results is when a further institutional offering would make most sense. After that, the thinking is an autumn sale, combining an institutional and a retail segment, is a realistic prospect," a source was quoted as saying by the newspaper.
The UK government has already sold off 6 percent of its stake in the partly nationalised bank, raising over 3.2 billion pounds ($5.28 billion) in September this year.
The government currently holds around 33 percent of the bank, five years after Lloyds and rival Royal Bank of Scotland were bailed out by the government at the height of the credit crunch.
Shares in Lloyds closed at 78.84 pence on the London Stock Exchange on Friday, valuing the group at 56.5 billion pounds.
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