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Conviviality has become the latest retailer to collapse into administration, putting 2,500 jobs at risk and risking supply disruption to Britain's pubs, after failing to secure emergency funds from investors.
On Thursday the owner of Bargain Booze and Wine Rack said it would appoint administrators within 10 business days, although creditors could force administration sooner.
The chain operates around 700 shops and supplies an estimated 17,000 outlets. Its Matthew Clark subsidiary is one of the country's biggest suppliers to the on-trade, serving more than 20,000 pubs including the JD Wetherspoon chain.
Trade body the British Beer & Pub Association said it was working with its members to assess the impact of its collapse. "Alternative suppliers will be sought in order to minimise the impact on the trade as far as possible, but inevitably a situation like this will be causing concern for some pubs,” a spokesman said.
Although Conviviality continues to trade, analysts at Shore Capital said its suppliers "are likely to have stopped supplying product now for fear to not being paid". "All this puts intense pressure on the business hence the need for some sort of resolution sooner rather than later," they said.
Problems have been mounting for the Bargain Booze owner over the past couple of weeks, as it revealed a string of profit warnings, axed its chief executive and said it was facing a £30m tax bill, which is due today.
Conviviality last week had issued a plea to investors for £125m in cash, in a last-ditch attempt to raise enough funds to pay off the tax bill and reduce its debts.
It had been holding meetings with those institutional investors, as well as customers and suppliers to reduce the provision of support, over the past week.
The company said today: "Unless circumstances change, and in accordance with statutory requirements, the board intend to appoint administrators within 10 business days. The secured creditors can, however, appoint administrators without the requirement for notice.
"The directors intend to allow the business to continue to trade and the company continues to work alongside advisers in order to preserve as much value as possible for all stakeholders as it explores a number of inbound enquiries regarding a potential sale of all or parts of the business."
Yesterday Conviviality said there was "ultimately insufficient demand" for its shares to raise the £125m it had been seeking. This amount had been the "minimum required to adequately recapitalise the business".
Chief executive Diana Hunter resigned earlier this month after the scale of the company's problems became clear.
Its shares on London's junior Aim market remain suspended and shareholders have been told they will receive "little-to-nil value" for their stock.
It is thought that a break-up and sale of separate businesses is the most likely possibility, with sources close to the company saying its brands were such strong enough to stand as separate entities.
Conviviality has been hampered by rising debt levels as it expanded rapidly since 2013.
In recent years, it has spent £1.7m on 26 shops in Yorkshire and the North East from rival Rhythm & Booze, splashed another £6m on Midlands-based off-licence chain GT News, and bought larger names such as wholesaler Matthew Clarke and wine specialist Bibendum in 2016.
The news of its imminent break-up will come as yet another blow to a retail industry already reeling from a series of high-profile collapses, including Maplin and Toys R Us, which together put the future of 5,500 workers at risk.
Meanwhile other retailers, such as New Look, Carpetright and Mothercare, are racing to shore up their finances, seeking rent cuts from landlords and shuttering stores.


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The 2015 EICMA motorcycle show has seen a lot of catchy bikes this year and the Husqvarna Vitpilen 701 is just one of them.
Husqvarna has showcased a brand new concept at the ongoing EICMA show and it is called the Vitpilen 701. Vitpilen means white arrow and even though the bike has fairly basic and uncluttered looks, it does look like a very fast object. The company claims that the motorcycle has been created for a very exhilarating riding experience and it has only those essentials which are needed to make the ride better, which is also one of the reasons why the styling is so simple.
The Husqvarna Vitpilen 701 comes with a 690cc single-cylinder engine that also powers the 701 Supermoto and 701 Enduro (it is essentially the engine that powers the KTM Duke 690). The bike comes with a straight-through exhaust with a wide diameter and the engine is finished in black colour. The rear-end of this Husky is a carbon monocoque and the airbox is fitted in that. The concept also gets front and rear lights, machined footpegs and a metallic-finish fuel tank.
The 701 Supermoto and 701 Enduro have been well received in the market ever since they were launched. The Vitpilen 401 is also geared up to hit showrooms soon while the Svartpilen will be launched in 2017. Along with the 401, the company will also launch the Vitpilen 125 and this bike comes with a single-cylinder engine. The Vitpilen 701 has been developed after a lot of study and the company wants to stay true to its motto of providing honest and state-of-the-art motorcycles.

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WASHINGTON — Michael Froman, confirmed by the Senate as the next U.S. Trade Representative on Wednesday night, will take the helm of President Obama's trade agenda at a time when the U.S. is involved in negotiating two mega trade deals — with the Asia Pacific region and, separately, with the European Union.
"Mike has been my closest adviser on a broad range of international economic issues and will continue to play a key role on my economic team," Obama said.
"He’s trusted and well-respected by our partners around the world, and for the last several years, he’s been a driving force behind our international economic agenda. In his new position, Mike will stay focused on our primary economic goals — promoting growth, creating jobs and strengthening the middle class. And he will continue to help open new markets for American businesses, level the playing field for American workers, farmers and ranchers, and fully enforce our trade rights."
Froman is leaving his post as deputy national security adviser for international economic affairs at the White House, where he played a key role in Obama’s trade agenda over the past few years, often working alongside former USTR Ron Kirk, who stepped down in February.
He will wade into the middle of the Trans-Pacific Partnership negotiations and confront several thorny issues, many involving textiles and apparel, in order to meet an ambitious deadline for wrapping up the negotiations between the U.S. and 11 other countries by the end of the year.
The TPP has wide-ranging implications for the apparel and textile industry, which is divided over rules governing apparel production and duty-free benefits. The U.S. has proposed a yarn-forward rule of origin, supported by the domestic textile industry but opposed by apparel importers, that requires apparel be made of fabric and yarns supplied by the U.S. and other TPP countries to qualify for duty-free benefits.
As chief trade negotiator, Froman will also lead the negotiations over a trans-Atlantic free trade agreement with the European Union, which are set to kick off in Washington the week of July 8.
He could be asked to help resolve a trade dispute involving the fashion industry as those talks begin.
The dispute between the U.S. and EU is putting a damper on the potential benefits of a comprehensive accord for U.S. jeansmakers, in particular. At the end of April, the EU more than tripled the tariff on U.S.-made women’s and girls’ cotton denim jeans to 38 percent, as part of retaliation for a World Trade Organization case the trading bloc won against the U.S. in 2005.
“I was touched by the fact that she lost her father, really before his time, and it was a real shock. She had two young children, she was married and she was expecting that she would have her own life for a good 25 years,” said Claire Foy about playing a young Queen Elizabeth in Netflix’s The Crown. Styled by @mayteallende 📸@jgreenery #emmys2017 #wwdeyeu
“Truth and lies have become a real interesting theme, more than ever, lately,” Emmy nominee Laura Dern told WWD. "It’s a very interesting time to use our voice." Styled by @cristinaehrlich, 📸 @shayanhathaway #wwdeye #emmys2017
“It transcends the genre that is you think of a sci-fi show — you don’t expect it to be so profound or emotionally riveting,” Evan Rachel Wood told WWD of her Emmy nominated role in Westworld. styled by @samanthamcmillen_stylist 📸 @emmanmontalvan #emmys2017 #wwdeye


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CANTON There’s a new tenant at Main St. Modern, Canton’s sprawling warehouse of mid-century modern furniture and home accessories.
Lost Thread Vintage is a spacious shop that also features retro collectibles, only these treasures are wearable. Three vintage clothing dealers, Evan Rutledge, Magan McLaughlin and Greg Macklen, offer their best finds on the shelves of this bright second-floor boutique.
“The hope is that it will bring young people here,” said Adam Hoover, owner of Main St. Modern, which has been selling vintage furniture (from the 1940s to the 1970s) for 17 years and opened the 40,000 warehouse. square feet at 618 Mulberry Road SE in 2013.
“There was a 50% increase in vintage clothing sales last year and a 70% increase is expected this year,” Hoover said.
In addition to the eco-friendly aspect of recycling clothes, “clothes are made better,” Rutledge said. “I have T-shirts that have lasted 60 years.”
A few things to know ahead of time about Lost Thread Vintage: The shop is not air-conditioned, customers must wear masks when browsing, and most importantly, this is not a thrift store operation. Garments have been carefully selected for quality, condition and lasting style.
Rutledge’s selection of authentic ’70s, ’80s and ’90s concert t-shirts – celebrating Huey Lewis, Def Leppard, NKOTB, Duran Duran, Rolling Stones and more – range from $30 to $100. Rutledge built his inventory of these pop culture artifacts by tirelessly scouring thrift stores, flea markets and estate sales.
“T-shirts are so trendy right now. A hip-hop artist can wear a certain t-shirt and the next day it’s worth $300,” said Rutledge, who some recognize as the lead singer of rock ‘n’ roll band White Buffalo Woman. “If you can find an original Nirvana ‘Heart-Shaped Box’ t-shirt, it’s worth over $1,000.”
In addition to t-shirts, Rutledge offers flannel and plaid shirts, Hawaiian shirts, sweatshirts and jackets at Lost Thread Vintage. He has a stash of unsold Guess jeans (vintage but never worn) and says he buys about 2,000 pairs of unsold Levi’s jeans, from the 70s to the 90s, which will sell for between $50 and $100, depending on the fit.
“I’ve been working on this for about a year,” he said.
McLaughlin was a partner with Jennifer Reed at a downtown Canton vintage boutique called Dress No Evil. After it closed in 2016, “I put everything away but never stopped collecting,” McLaughlin said. “Wearing vintage was cool then, but now it’s appropriate. I have high hopes.
At Lost Thread Vintage, “our goal is to be the best vintage dealer in the state and really take the market by storm,” she said.
To illustrate the variety of clothes she wears, McLaughlin pulled out a strappy red gingham dress – “obviously handmade” – which she says dates from the early 1940s. Then there was a beaded dress who “probably weighed 10 pounds, it’s like holding a baby,” she said.
Gunne Sax brand dresses “have a nostalgia factor for a lot of people. Women will say, “I had that when I was 17.”
“I have ’90s stuff, which is all the rage, especially with young people,” she said. “And I love coats. I am a queen of coats.
McLaughlin’s pieces cost between $30 and around $300.
“A unique vintage piece can bring something eclectic to your everyday look,” she said.
Opening week hours at Main St. Modern/Lost Thread Vintage are today and Friday, 2-7 p.m., and Saturday, 10 a.m.-4 p.m.
Starting next week, regular hours will be Thursday from 2 p.m. to 7 p.m. and Saturday from 10 a.m. to 3 p.m. Appointments can be made for store visits at other times by texting 330-206-6006.
Contact Dan at 330-580-8306 or [email protected]
On Twitter: @dkaneREP


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Cord-Cutting: The Real Story Behind the Myth
Conventional wisdom has it that customers who ditch cable replace it with video streaming services like Netflix (NFLX) or Hulu Plus. Surprisingly, however, that's not necessarily where the lost subscribers end up.
Contrary to popular opinion, the wider pay-TV universe isn't really losing much business to the Netflixes and Hulus of the world.
According to data compiled by Leichtman Research Group, the top 13 pay-TV purveyors in this country -- including cable, satellite TV and telecom companies -- saw a net loss of approximately 125,000 video subscribers in 2014.
At first glance, 125,000 is a big number. But the surveyed companies collectively broadcast their product to over 95 million customers. So the net loss was barely over 0.1 percent of the total. So the overall migration away from traditional pay-TV services is fairly limited.
See You Later, Cable
However, the picture shifts when we look just at cable companies. They're shedding subscribers in notable numbers (nearly 1.2 million net in 2014, leaving a total of just over 49 million). Meanwhile the TV service bundles provided by telecom incumbents AT&T (T) and Verizon (VZ) added them at a rapid clip, according to Leichtman. All told, the two companies took on just over 1 million new subscribers last year, padding their combined total to almost 11.6 million. Meanwhile, satellite TV companies DirecTV and Dish added a combined 20,000 subscribers last year.
Cable customers are ripe for the poaching, not least because the cost of such services keeps rising. That isn't necessarily because the cable companies are getting greedy, however.
Retransmission fees -- effectively, the cost of content from popular cable channels like AMC Networks' (AMCX) flagship AMC or Disney's (DIS) king of sports, ESPN -- have been increasing significantly over the past few years. Those expenditures are being passed along to end users, at least according to the cable providers.
But a rapid upward climb in costs isn't the only problem. After all, the satellite services have to cope with it, too. Compounding the issue for cable is its abysmal record in customer satisfaction, the rates of which are stubbornly low. A recent article in The Washington Post revealed that 53 percent of surveyed cable subscribers would abandon their service if they had a viable alternative.
Hard to Say Goodbye
That's a big "if." One major reason that the adoption of phone company and streaming services hasn't been higher is that switching from cable to either is not particularly easy to do.
The telecom offerings -- AT&T's U-Verse and Verizon's FiOS -- are run on fiber-optic cable networks. Compared to traditional cable, this technology is younger and less built-out. Fiber services are available in far fewer markets, typically metropolitan areas of selected cities.
U-Verse, for example, is an option in only nine municipalities, typically locales with a strong tech industry presence. These include San Jose, California, and Austin, Texas. People in New York or Los Angeles are out of luck at the moment.
Streaming services would appear to have the advantage, then, as they require only a strong Internet connection. The problem is that there are many streamers, and they usually have different price points. So planning a "menu" of services that both covers the needed viewing choices and is sufficiently cost-effective can be a challenge.
Considering that a host of streaming subscriptions probably requires more management than a one-stop, single-price cable package, the savings achieved might not be worth it for many people.
Until a clever someone or company devises a product that's both highly convenient, compellingly inexpensive, and packed with every one of a viewer's favorite channels, cord-cutting will probably remain limited to cable-to-satellite defections.
In the meantime, those interested in untethering entirely from cable and satellite can avail themselves of a host of online resources to help them choose the appropriate services for their tastes. Time magazine has a good resource, as do PBS and The Verge, which offers a convenient interactive guide.
Motley Fool contributor Eric Volkmanowns shares of Walt Disney. The Motley Fool recommends AMC Networks, Netflix, Verizon Communications, and Walt Disney. The Motley Fool owns shares of AMC Networks, Netflix and Walt Disney. Try any of our Foolish newsletter servicesfree for 30 days. Check out our free report on one great stock to buy for 2015 and beyond.


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Natural MicroSystems, a maker of telecommunications technology, announced it posted revenues of $20.6 million for the third quarter. The company reported earnings of 1 cent per diluted share on 11.2 million outstanding shares. Analysts surveyed by First Call had estimated that the company would earn 2 cents per share. Natural MicroSystems posted revenues of $20.1 million and earnings of 23 cents per share on 11.1 million outstanding shares in the year-ago quarter.


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With the country’s infrastructural development and economic progress, many prominent companies have been venturing into innovative business concepts. The initiative of setting up the first-ever gold refinery by Bashundhara Group, one of the country’s leading business conglomerates, was such an attempt receiving huge appreciation from the very beginning. Now, the important milestone in transforming the much-cherished dream of bringing a gold refinery of our own into a reality is just a few steps away. After having done almost all necessary preparation, the refinery has aimed to come into operation the next year. That much-anticipated Bashundhara Gold Refinery Limited is expected to start production in March next is a good piece of news given the impact it will bring in our national economy.
It is claimed by businesspersons and believed by market analysts that the gold sector can be the major contributor to export earnings as the value addition of the item is higher than any other product. The global jewellery market is expanding across the world. The market was equivalent to $229.3 billion in 2019 and is now projected to reach $291.7 billion by 2025. Currently, the lion's share of the jewellery and watch market revenue is attributed to China, followed by the United States, Japan and India. Bangladesh's share in this sector is abysmally low. However, with its goldsmiths' high repute for eye-catching designs, our country has all the potential to take this lucrative opportunity and strengthen its position in jewellery export. And Bashundhara Refinery Ltd has widened that scope. Once commercial production begins, the gold refinery is expected to facilitate the export of gold ornaments and put Bangladesh in the race of ornament-exporting nations. And the gold sector will stand tall as a leading foreign export-earning sector.
Source: Sun Editorial


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Nokia is back in the red after a nudging into profitability in Q4 2012. The Finnish phone maker today reported its total sales of mobile phones fell 30 per cent in the first quarter of 2013. In turn revenue fell 20 per cent to 5.85bn Euros and it incurred an operating loss of around 339m Euros. The Nokia Lumia smartphone range provided a sunnier aspect for the company’s future as these higher value handset sales rose 27 per cent during this first quarter of 2013.
The markets didn’t like the results and Nokia shares have fallen 13 per cent in value at the time of writing. When Steven Elop took over as chief exec in 2010 he put together a turnaround plan and took the decision to switch to the Windows Phone platform in early 2011. Reuters reports that this time is nearly up with one more quarter to go before he has to start showing more convincingly that the company is on the right track. All the time Nokia’s bread and butter basic handset business, supporting the company through change, is eroding.
Looking at the Q1 2013 sales figures gives us the following breakdown:
- Lumia: 5.6 million
- Asha: 5 million
- Symbian: 0.5 million
- Other mobiles: 44.7 million
The big reduction in sales revenue came from the cheaper side of the market including the Asha range, which sold 46 per cent less than in the last quarter and so called “dumb phones”. Hakan Wranne, an analyst at Swedbank said “The shortfall is in the cheaper mobile phone side, where both volumes and average selling prices came lower than expected.” He added that “I think we will see the market's profit estimates for 2014 come down”.
New Lumias and a Lumia phablet
The Financial Times reports that Nokia is to continue to forge ahead with its focus on the Lumia range with “a number of flagship launches later this year, including a first move into the supersized tablet phone market”.
We have already seen glimpses of specs and components for a new Lumia 928 model. This is purported to be a tweaked-up Nokia Lumia 920 with a thinner and lighter body, a super AMOLED display and a Xenon flash. The 928 isn’t the rumoured aluminium bodied “Catwalk” and will retain a polycarbonate construction.
“Those with knowledge of the company’s plans” said that a new Lumia phablet is in the works which will be comparable in size to the Samsung Galaxy Note range but “with more advanced specifications”. For people who like to have a smartphone with a great integrated camera “a July launch is being considered for a handset that has a 40 megapixel camera and a flash.” That will be a proper PureView Lumia.


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Garment, footwear and construction sectors have suffered the biggest economic hit during the Covid-19 pandemic with supply chain disruption as the top challenge, according to a latest report.
An estimated 68 per cent of the surveyed garment members reported that their revenue has decreased 'significantly or critically', it said.
The report styled 'Covid-19 Impacts on Businesses' was launched on May 26 by Sedex, one of the world's leading ethical trade membership organisations.
Sedex conducted the survey on 469 suppliers from the garment sector across 51 countries, mostly in Bangladesh, China, India and Turkey.
It also studied sectors like chemical, pharmaceutical, retail, cleaning, wholesale and fishing.
The report disclosed that customers are supportive during the pandemic.
"Countries like India (88 per cent) and Bangladesh (77 per cent) have been particularly impacted," it said.
Only 10 per cent of the respondents have seen an increase in revenue, it found.
With many unit struggling to stay afloat, closures and reduced work have devastating impacts on jobs and income for most workers in garment and textile sectors.
Of those with more labour than work (56 per cent), the most common option for managing this was reducing the number of shifts per worker (46 per cent executing this option) with 31-per cent suppliers reducing headcount.
Some 25-per cent businesses will temporarily close and 21 per cent stop workers coming in to work during this period, according to the report.
"This makes for particularly grim reading in an industry where workers earn extremely low incomes," the report cited.
With little to no margin for savings, many garment and footwear workers look set to face extreme poverty, it mentioned. Timely collaboration between retailers and governments is critical for managing the impacts of COVID-19 on the millions of people affected.
A total of 30-per cent respondents also reported experiencing labour shortages.
Companies are taking proactive steps to fix this crisis with recruiting more workers (42 per cent) and using contract labour (27 per cent).
With almost 70 per cent of those experiencing labour shortages looking for new workers, the likelihood of poor recruitment practices is exacerbated in times of crisis. Hiring child or forced labour may increase, the report has found.
"We urge brands to work collaboratively with suppliers to deliver products to agreed and workable timelines to avoid possible critical issues."
A quarter plans to increase overtime, which may pose significant health problems for workers in an industry already characterised by extremely long working hours. Negotiations with buyers on extending timelines so that orders can be met with existing workers are a key option for 40 per cent of respondents.
Sedex strongly advises buyer organisations to allow for flexibility and additionally provide fair prices.
Only 38 per cent of the respondents in the garment sector stated that their customers are supportive over this time. This reflects the picture in factories worldwide, where many companies are closing and millions of jobs are being lost resulting in vulnerable situations and health risks for those affected.
When asked about most helpful measures by buyers to suppliers, 67 per cent of the respondents requested for avoiding cancelling orders.
Fifty-six per cent sought better payment terms, 49 per cent improved forecasting and planning, 48 per cent longer production timelines and no late delivery fees during this period.


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Slowdown in IT spending, Impacts Pakistan’s Export markets
This marks a sharp deceleration in growth compared to the momentum seen in recent years. Recall, ICT exports stood at $2.6 billion in FY22, growing 24 percent year-on-year.
Amid the general slowdown in exports in the ongoing fiscal, how are Pakistan’s Information and Communication Technology (ICT) services exports doing? Well, there is a considerable cooling-off on that front, too, as slowdown in IT spending in Pakistan’s key export markets starts to have impact. As per the most recent data from the State Bank of Pakistan (SBP), these exports stood at $845 million in the Jul-Oct period of FY23, reflecting year-on-year growth of just 3 percent (or an addition of about $25 million).
This marks a sharp deceleration in growth compared to the momentum seen in recent years. Recall, ICT exports stood at $2.6 billion in FY22, growing 24 percent year-on-year (or an increase of half a billion dollars in absolute terms). Such was the mid-Covid jump in ICT exports that observers had branded even FY22 a slow year compared to FY21. From that angle, FY23 proceeds thus far seem really disappointing.
During 4MFY23, ICT exports had a 9 percent share in the country’s overall exports (merchandise plus services exports) of $9.8 billion. This share looks similar to the one posted in the same period of the last fiscal. (During entire FY22, ICT services exports’ share in total country exports was recorded at 7 percent, mainly due to proportionally-higher growth in merchandise exports than these digital exports).
Breaking down the ICT exports into their two main components, there are instances of both growth and decline in different areas, as the IT spending slowdown in overseas markets affects different segments and players differently. Freelancers, which have also been a key part of the growth run in digital exports in recent years, are likely to be affected more than large firms, which tend to have more long-term clients as well as bigger scale to absorb difficult times.
In the heavyweight ‘computer services’ segment, exports totaled $688 million, growing by 6 percent year-on-year. Within this segment, export proceeds from sales of i) computer software and ii) software consultancy services both showed promise, growing 14 percent year-on-year to $190 million and 10 percent year-on-year to $254 million, respectively. However, some of those gains were neutralized by the 3 percent drop in exports from ‘other computer services’ to $243 million.
In the ‘telecommunication services’ segment, exports were reported at $165 million in 4MFY23, showing a fall of 8 percent year-on-year. Within this segment, the core telecoms services (including long-distance and international (LDI) telephony proceeds) saw a large decline of 20 percent year-on-year to $95 million. On the positive side, the ‘call center’ exports jumped 17 percent year-on-year to $70 million in the analysis period. However, it wasn’t enough to recoup the fall in exports from the core telecom services.
Going forward, a lot depends on how IT spending fares in US and Europe, two of Pakistan’s main IT export markets, as economic weaknesses mount due to high inflation, rising cost of borrowing and falling investments. Gartner, the technological research and consulting firm, has recently argued that there will be higher IT spending in some areas and lower spending in others, depending on where firms can find more efficiencies through digital investments. Can the local IT players position themselves accordingly?
Originally published at Business Recorder


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The answer lies in deftly applying fundamental advertising that includes frequency, data, options, and technology.
According to a recent study, eMarketer predicts that US adults spend an estimated 2 hours and 51 minutes on mobile devices every day.
Our lives have become so engulfed with video. Look at your Facebook feed, Instagram, Snapchat, Twitter, at your Dr’s office and simply everywhere you look.
“Geo-Fencing”, such a buzz word as of late in the digital industry. One that may seem like just another buzz word for the moment, but honestly, this is key.
We would like to thank Tech Crunch for hosting these awards and a huge congratulations to all the winners and nominees of the night.
We are Demand Local and we’re the ones that are changing everything. Okay, we realize that can sound a little intimidating, but don’t worry, these are all changes for the better.
Consumers are expecting real-time content personalization when they visit a web page, and marketers are responding to the demand.
Imagine targeting an automotive shopper while they are sitting at a competing dealership, presenting them with an offer they couldn’t refuse.
In a recent study conducted by the automotive website Edmunds.com, it was found that mobile users are, indeed, serious shoppers.


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New iPhones target China's premium market
Apple Inc, which introduced new 5G iPhones with a starting price of 5,499 yuan (US$809) on Tuesday, aims to expand market share in China, already the world’s top premium smartphone market, industry insiders say.
In 2020, China is expected to account for 29 percent of the global market for smartphones above US$600, compared with just 16 percent in 2018, according to researcher Canalys. Meanwhile, the US will account for 26 percent of the market this year.
“China has long been the world’s largest smartphone market by volume. In the second quarter, China overtook the US to become the largest market for premium smartphones above US$600,” said Ben Stanton, a senior analyst of Canalys.
So far this year, Chinese smartphone vendors, such as Huawei, Vivo and Oppo, led the domestic premium market with 5G and advanced camera features. Apple expanded in China with the iPhone 11 and cheaper SE models which didn't support 5G.
Apple's newest iPhone models will be available for pre-order in China on Friday. The devices will “target stubborn upgraders at the high-end markets," said Stanton.
Apple is expected to produce 190 million iPhones this year, roughly equal to last year's total, while global smartphone production is predicted to decrease by 11 percent in 2020, according to another researcher TrendForce.
New iPhones are expected to be popular in November when the China’s biggest online shopping festival to be held. Online retailer such as Tmall, JD and Pinduoduo, as usual, will offer coupons and discounts on iPhones.
Dada Group’s JDDJ announced on Wednesday to offer new iPhone 12 fast-delivery services.Through partnership with nearly 500 Apple authorized stores and resellers, Chinese consumers can get new iPhones delivered “within one hour” after Apple started sales since October 23, Dada said.


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Nokia promises to return
The fact that the return of Nokia on the smartphone market no one can doubt, and confirmed by the company itself.
The first Android-smartphone Nokia called D1C, according to leaks, could be announced simultaneously in two versions with different diagonals and other characteristics.
2017 will be the year of the return of the Nokia brand on the smartphone market. This information is repeatedly confirmed from various indirect sources. This information was confirmed by the direct supervision of the Finnish company, presented on 18 November in the framework of the event Capital Markets Day, among other plans, the restoration of the name of its brand in the smartphone market.
Unlike the previous business model for the production of phones, Nokia is not going to revive its own production. Now the company intends to act as the owner of the trademark and the relevant patents, supervising the creation and production of smartphones.
In practice, the development and production of smartphones, tablets on the Android operating system under the Nokia brand will take the company global HMD Oy, established in may 2016 with headquarters in Helsinki and with a staff of mostly veterans Nokia. The company was founded on the basis of the partially redeemed assets from Microsoft Mobile.
Company HMD has a 10-year exclusive right to use the trademark Nokia for manufacturing mobile devices, and plans to invest in the next three years at least €500 million on marketing. Directly the production and distribution of smartphones will deal with FIH Mobile, a division of the Taiwanese company Foxconn, the development of equipment will be carried out in the R&D centres Foxconn.
Reliable information about the product line of new Android smartphones Nokia with the official confirmation yet from anybody, but numerous complementary leakage from various industrial sources already allow to get a first impression about the upcoming new products.
According to the latest information of the site NokiaPowerUser received the exclusive right from “credible sources”, the first smartphones that HMD global and Foxconn will present to the public, will be two models called D1C.
The key difference versions of the smartphone will be the screen diagonal: 5 inch and 5.5-inch for the same screen resolution Full HD (1920×1080 pixels).
Another difference between the versions will be the amount of internal operating memory: 2 GB in one model and 3 GB in the other.
Finally, the different versions will also be presented different resolution main rear camera: in one variant we are talking about a 13 MP sensor, the second about 16 MP.
Other key features of both versions of the smartphone Nokia D1C expected to be similar: chipset Qualcomm Snapdragon 430 (8 cores ARM Cortex-A53 with a clock frequency of 1.4 GHz and graphics Adreno 505), the operating system Android Nougat 7.0, 16 GB (according to other sources 32 GB) internal user memory, 8 MP front selfie camera with fixed focal length.
All the leaks from different sources clearly indicate that the appearance of the first Android-smartphone Nokia is expected to close by the end of 2016 or early 2017, though, does not seem less probable assumptions about the official announcement of the international conference 2017 MWC in Barcelona from 27 February to 2 March.
Relative price positioning of new products, market observers expect from Foxconn very aggressive policy.
© 2016, z-news.link. All rights reserved.


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DORKING’S antiques dealers are struggling to stay afloat in the face of a dramatic downturn in trade that has seen sales slashed by up to 50% in the past year.
Two businesses in West Street – the Old Bakehouse and The Victoria and Edward – have folded in the last six months and six more have said they will follow suit unless sales pick up.
The chairman of the West Street Association, Pat Thomas, has warned that the trade is in crisis. He has drawn up a list of measures to try and restore confidence and has called on local planners to allow a limited number of non-related antiques businesses into the street to stimulate trade.
The antiques trade suffered its first major body blow in the wake of the 9/11 outrage in New York. Mr Thomas said: “With American dealers and visitors forming a significant part of our business, sales slumped overnight and have yet to recover.”
Other problems then compounded the misery including the strong pound and a change in fashion, especially among the affluent young, away from antiques and into contemporary, often minimalist tastes.
“All of these factors put together have reduced sales in West Street by between 25% and 50% compared with a year ago,” he adds.
There are now 25 antique shops in the street of which three are in multi-occupancy. Mr Roberts says efforts to find new dealers for the two that have closed have failed.
“Both stand empty in need of repair and detracting from the appearance of the street,” he added. “Of those remaining, several have leases due for renewal and at least six have let it be known that they will have to cease trading soon unless there is a significant upturn in sales.”
Mr Thomas said that in the past, when leases became available, they were snapped up by the antique trade before coming on to the market.
“The current display of estate agents’ boards is unheard of and with the trade throughout the country in dire straits there is virtually no chance of fresh antique dealers coming into Dorking to take up these vacancies,” he added.
In the past planning polices have been tailored to preserve the unique character of the street and to restrict non retail units. But Mr Roberts said it was now time to change.
He believes the policies should be relaxed to allow a limited number of quality restaurants or coffee shops, open during the day, which would then attract more shoppers.
Measures could be taken to improve the road and pavements and to smarten up the old fire station building at the entrance to West Street which has stood empty for years while its owner, Surrey County Council, decides what to do with it.
Finally, some shopkeepers have been urged to brighten up their premises with a lick of paint and to keep to their displayed opening hours.
Mr Roberts said: “If some real progress could be made within the next six to 12 months there is a good chance to persuading a few of the wavering dealers to stay on and see the tough times through.”
His suggestions received the support of members of the Dorking town centre forum at their meeting on Monday.


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The trend of drug abuse among the youths as has become rampant on the streets of Ghana.
Recently, the abuse of tramadol has been widely publicized with the result that the youth is now inclining towards a more sophisticated means of consuming nicotine.
The tobacco industry has replaced traditional cigarettes with electronic cigarettes, or E Cigarettes as they are known, to entice their clientele base mainly the youth with a nicotine fix that does not include sucking burning paper tar, tobacco and thousands of harmful chemicals.
For the Ghanaian youth this is a recent trend, but because of the high cost of electronic cigarettes is, it’s mostly used by quite a few.
The non-governmental organization, Vision for Alternative Development (VALD) has called for electronic cigarettes to be banned from the Ghanaian market especially if they have not been registered by the Food and Drugs Authority (FDA) before it becomes a huge problem.
A source who trades in electronic cigarettes disclosed that his clientele base encompasses elderly men who want to quit smoking and the youth.
He further explained that, the youth who purchase his products mainly want to try it out or want to fit in with their ‘vaping’ friends and mostly for recreational purposes.
He also elaborated that the price of the electronic cigarettes depends on the brands, material used, sustainability and sophistication of the products with prices ranging from Ghc 50 to 650 Ghc.
In a recent conversation with the media, the Principal Researcher of the Ghana Health Service (GHS), Divine Darlington Logo says a research conducted showed that most youths have ditched the smoking of traditional tobacco cigarettes for e-cigarettes and shisha.
The research revealed that the rate of smoking shisha and e-cigarettes among young people has shot up to 5.3 percent, higher than the traditional use of tobacco which stands at 2.8 percent.
It also showed that one puff from a shisha tube equaled the smoking of an entire cigarette and all the effects of smoking are in shisha and electronic cigarettes.
A source from the Food and Drugs Authority told Public Agenda that no e-cigarette product has been registered yet but if any is brought for registration it will approve it.
An electronic cigarette is a battery-operated device that works by heating a liquid to generate an aerosol, commonly called a “vapor” that the user inhales.
Electronic cigarette is also known as e-cigarettes, e-cigs, electronic nicotine delivery systems (ENDS), vaporizer cigarettes, and vape pens, they are marketed as a way to stop or cut down on smoking.
Using e-cigarettes is commonly referred to as vaping. The liquid in the e-cigarette, called e-liquid, or e-juice, is usually made of nicotine, propylene glycol, glycerine, and flavorings. Not all e-liquids contain nicotine.
An e-cigarette is a long tube that usually resembles a cigarette, a cigar, a pipe, or a pen. Most are reusable, with replaceable and refillable cartridges, but some are disposable.
The first patent for a “smokeless, non-tobacco cigarette” was requested by Herbert A. Gilbert in 1963, but the current device did not appear until 2003.
The e-cigarette was invented by Hon Lik, a Chinese pharmacist, working for Golden Dragon Holdings, now known as Ruyan. The company started exporting into major markets in 2005 to 2006. There are now over 460 different brands on the market.
The nicotine content varies from zero to “extra-high,” or 24 to 36 milligrams (mg) per milliliter (ml).
E-cigarettes claim to bypass many of the health risks of tobacco smoking, and to offer a more healthful alternative to cigarettes and other conventional forms of nicotine intake.
Some studies have found that using e-cigarettes can help some smokers quit.
Others suggest they offer “modest” benefits for those who want to quit smoking, but “good potential” for those who are cutting down.
The product is marketed as cool and safe, and offering a variety of flavors, manufacturers are keen to attract teens and adolescents, who often believe vaping is less hazardous than smoking.
However, that is not necessarily true, and in 2016, the Surgeon General declared e-cigarette use a “significant public health concern.”
Most e-cigarettes contain nicotine, which is addictive and triggers changes in the adolescent brain. It is hazardous during pregnancy as it can affect fetal development.
The aerosol contains solvents, flavorings, and toxicants, which the Surgeon General describes as either “harmful” or “potentially harmful.”
E-cigarettes expose the lungs to different substances. One of these is dicetyl, which can cause “popcorn lung,” a severe and irreversible lung disease.
Potentially fatal poisoning has resulted from accidentally swallowing and from inhaling c-cigarette liquid.
People who seek to quit smoking will stop using conventional and medically monitored methods of doing so.
Those who use or who have used e-cigarettes are be less likely to stop smoking altogether.
Teens who use e-cigarette products are more likely to start using regular tobacco as well.
The flavorings, the marketing, and the concept that it is not harmful all tempt teenagers to start vaping. There is concern that this increases the chance that they will smoke conventional cigarettes later.
By Sanna Tehrani


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Considerations To Know About Daiquiri Machine in Pennock MN 56279
At Louisiana Specialty Drinks, we proudly service and mend all new and applied types of frozen daiquiri machines. This incorporates restore for ice product machines.
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For the first time ever, an all-electric vehicle — the Tesla Model Y — is now the world’s bestselling car.
How much should you spend on an engagement ring? Here’s what to know when shopping for a ring — and how you can save some...
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The Information Technology Industry Development Agency (ITIDA) organised workshops, attended by more than 80 representatives of foreign and local companies, to offer packages and incentive programmes designed by the authority in coordination with the Ministry of Communications and Information Technology. The workshops are meant to cover the industry’s needs such as circuits designing and manufacturing …
The Information Technology Industry Development Agency (ITIDA) organised workshops, attended by more than 80 representatives of foreign and local companies, to offer packages and incentive programmes designed by the authority in coordination with the Ministry of Communications and Information Technology. The workshops are meant to cover the industry’s needs such as circuits designing and manufacturing and electronic systems and products.
Hossam Osman, executive vice president of ITIDA, said that the general framework of the strategy adopted by the state in the field of electronic industries is based on stimulating foreign investments. He added that this strategy enables research development and innovation, while promoting exports by activating trade agreements, developing the capacity of human resources, and improving the regulatory environment.
This comes in light of the presidential initiative for the design and manufacture of electronics called Egypt Manufactures Electronics, which is overseen by the Ministry of Communications and Information Technology. The initiative aims to make the electronics industry one of the pillars of economic growth by doubling Egyptian electronics exports, and achieving self-sufficiency in the local market, which lowers the rate of imports. The initiative also aims to provide new job opportunities for professionals and technicians working in this field.
The initiative seeks to manufacture a number of promising electronic products including mobile phones, tablets, navigation devices, and its feeding industries such as lithium batteries, electric chargers, screens unit, speakers, LED lighting products, smart counters, televisions, and LED screens. Under the initiative solar energy systems such as solar cells, transducers, controllers, energy batteries, and industrial electronics would have local manufacturing rates ranging from 40-60%.
Stimulus programmes provided by ITIDA includes encouraging companies to increase their investments in the field of electronics such as their capital attraction programme, which includes financing a local partnership with an international company or financing a local company that manufactures one of the most promising products and its feeding components with advanced technology.
Stimulus programmes also include the capital programme for modernising feeding industries. This programme includes financing a local party to develop existing feeding industries. ITIDA also offers a programme for supporting operating expenses, which aims to increase competitiveness of some components manufactured locally such as printed circuits, micro-chips packaging, headphones, and lithium batteries.
ITIDA also has an innovative designs stabilisation programme designed to finance the research, development, and creativity of electronic components in electrical appliances, automobiles, and other projects.
Stimulus programmes also include the development programme for financing companies’ research in the field of the Internet of Things and emerging electronic companies. This programme provides financing in the field of electronic design and covers the financing costs of design patents on an international level.
ITIDA also offers a technical and specialised training programme, which focuses on basic and advanced training levels for workers in the electronics industry. The programme is meant to generate 500-800 engineering graduates a year. Furthermore, the technical training programme offered by ITIDA aims to produce 2,000 skilled technicians and workers a year. Another programme aims to train 50-100 entrepreneurs and leaders every year.


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Averaged global chip sales for July rose 5.1 percent over the same period in 2012, with a US boom more than compensating for a declining Japanese market, according to data from the World Semiconductor Trade Statistics (WSTS) organization reported by the Semiconductor Industry Association (SIA). The data also provides a glimmer of hope for Japan as its market showed strong growth compared with the previous quarter.
The three-month average global semiconductor sales for July rose 5.1 percent from the year before, to $25.53 billion. This came in considerably above a prediction of $24.9 billion given in an email to EE Times by Bruce Diesen, an analyst with investment bank Carnegie AS in Oslo, Norway.
In the previous averaged month the annual rise was 2.1 percent .(See: US Strength Lifts Q2 Global Chip Sales.) Taken with the latest WSTS data this indicates that the pace of market growth was accelerating in July although there have been some warnings given over the impact of possible inventory correction in the market and moderating demand in the smartphone and tablet computer sectors.
Three-month averaged sales for July (in billions of dollars) compared with the previous year, month, and quarter. (Source: SIA/WSTS)
The geographic picture shows a boom in the US more than compensating for laggardly Japan. On an annual basis chip sales rose 21.5 percent in the Americas (a region dominated by the US market) while falling 18.6 percent in Japan. Japan's drop reflects both the devaluation of the yen and the restructuring and sale of a number of Japanese semiconductor companies.
However, there was a better, more recent indicator from Japan. Japan's quarterly sequential growth was the strongest of all the regions with sales for the three months of May, June, and July up 7.9 percent compared the three months immediately prior.
"Sales increased in all regions and across every product category, and macroeconomic indicators bode well for continued growth during the remainder of 2013," said Brian Toohey, president and CEO of the SIA, in the press release.
The SIA gives monthly data as a three-month average, though WSTS (the source of the data) tracks actual monthly data. The SIA and other regional industry bodies use averaged data because it smoothes out the monthly data, which typically shows troughs at the beginning of a quarter and peaks at the end.


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Following its breach more than six months ago—and with the new revelation that millions more Americans were impacted—Equifax is not surprisingly the least trusted credit bureau, according to new data from Auriemma Consulting Group. While this may be a natural outcome of such a high-profile event, the research shows there has been a ripple effect that has weakened trust in competitors like Experian and TransUnion, sparking consumer skepticism about how credit bureaus are protecting data.
But while consumers’ trust in credit bureaus has been damaged by the breach, they continue to express confidence in their banks’ and issuers’ ability to protect their financial information—82 percent of cardholders believe their financial accounts are secure and about 80 percent reporting confidence in their bank’s and/or credit card issuer’s ability to protect their financial information.
Although the Equifax breach wasn’t the largest data breach of all time, the bureau received increased scrutiny from government officials and consumers alike for not having the same regulatory oversight on data protections as banks, issuers and other financial institutions. In January, senators introduced a bill to create mandatory penalties for data breaches at credit reporting agencies.
While the political reality of such measures is unclear, it could be championed by the public: According to Auriemma, 78 percent of consumers believe credit bureaus should be subject to greater regulation. Recent news places the Equifax investigation on hold, however, as sources recently said interim director Mick Mulvaney has yet to request subpoenas against the reporting agency or sought sworn testimony from its executives.
Consumers’ trust in Equifax has been eroded
Thirty-one percent believe they were impacted by the Equifax breach, which also likely affected trust for all credit bureaus, according to Auriemma. One-quarter (25 percent) say they have don’t trust any of the reporting agencies with their financial information. Only 10 percent of cardholders say they trust each of the credit agencies a lot. Equifax falls at least 10 points behind TransUnion and Experian in credit cardholders that have at least a little trust in each respective credit agencies.
“While levels of trust with TransUnion and Experian are near equal, Equifax is likely suffering from the handling of its recent data breach,” said Jaclyn Holmes, director of Auriemma’s Payment Insights practice, in a news release. “The level of distrust is even more stark among those who believe they were impacted by the breach—just over half of those individuals no longer trust Equifax with their financial information.”
Poor crisis handling leads reasons for distrust
More than half (53 percent) of respondents believe the Equifax breach was handled poorly by the company, likely due to the delayed response and remediation efforts. But Equifax’s eventual efforts to communicate with and provide ID theft protections to impacted consumers did not go unnoticed by the remaining 47 percent of respondents, who say the bureau responded at least somewhat well.
While Equifax offered web-based tools to help consumers post-breach, a very low proportion (38 percent) of respondents who believe they were impacted used these tools. Impacted consumers opted to check their credit report themselves more frequently than those not impacted (46 percent versus 21 percent), began monitoring their existing credit and bank accounts more closely (46 percent versus 18 percent), enabled two-factor authentication where possible (23 percent versus 6 percent), and placed fraud alerts and credit freezes on file (21 percent versus 3 percent).
“Even among those who say they’re certain they were impacted, only half say they visited http://www.equifaxsecurity2017.com to see if they were exposed—which speaks to a general weariness for Equifax’s online portal and their response to the breach,” says Holmes.
This study was conducted online within the US by an independent field service provider on behalf of Auriemma Consulting Group among 800 US adult credit cardholders in November 2017. The number of interviews completed for both is sufficient to allow for statistical significance testing among sub-groups at the 95% confidence level ±5%, unless otherwise noted. The purpose of the research was not disclosed, nor did respondents know the criteria for qualifying. The average interview length was 20 minutes.


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Almost one month ago, HTC officially introduced the HTC Explorer, announced as the most affordable HTC's Android smartphone. The device is finally available for purchase in UK from famous mobile retailer Clove, who is offering the device for £192 ($307) without contract. Rumor has it that Vodafone UK and ThreeUK will sell the Explorer sooner or [...
Brits won't have to wait long to get their hands on the HTC One Max. Vodafone UK says that it will be offering the gigantic smartphone this week as a carrier exclusive in the country; customers can pick it up for £49 if they're willing to subscribe to a £47 monthly plan. An unlocked version is also available, although it's not cheap at £600 ($958) for a 32GB model at MobileFun.co.uk.
Sony‘s newly unveiled baby, the Xperia Z1, might be grabbing most of the attention these days, but the Xperia Z Ultra will be first in making it into users’ hands. This giant of a phone is now up for grabs in the UK via carriers Three and O2.The word that best describes the Sony Xperia Z Ultra is “gigantic”. Not unlike the recent Samsung Galaxy Mega, the phablet sports a 6.3-inch screen.
The debate around giant smartphones is over. Manufacturers like Samsung, Sony and LG have amply demonstrated that it's possible to build a pocketable, phone-like device with a screen bigger than five inches. Now it's HTC's turn.
We mentioned a couple days ago that the Google Nexus 7 2013 tablet would be hitting Verizon Wireless soon . That tablet is now available on the Verizon website. The new tablet has a full HD resolution display and supports the Verizon LTE network. The tablet will be offered in two deals. You can get it for $249.99 if you sign up for a two year data contract.
The market for wearable activity monitors has boomed in recent months with a number of wearable activity monitors. One of the smallest activity monitors around is the Misfit Shine, which was on Indiegogo last November looking to raise the money to come to market. The little activity monitor raised plenty of money and launched not long after.
When Apple introduced the iPhone 5c, analysts and pundits were taken aback that the device was not as cheap as they were anticipating. How, they pondered, would Apple be able to increase market share without a more affordable device aimed at emerging markets?As is typically the case with respect to Apple-related panic, however, the reality is much less alarming than the hysteria would have you believe.
The Nintendo Wii certainly broke new ground when it came to controls, even if the games didn’t have the graphics that most gamers expected. One of the more popular games and accessories for the original Wii was the Wii Fit. That device helped people get fit while playing games.
The online rumor mill's been working overtime where HTC's upcoming M8 flagship is concerned, with some even going so far as to conjure fake mock-ups of the device. Leave it to @evleaksthen to give usour first alleged glimpse of the handset, albeit via the device's homescreen.
Brits who've been yearning for the Nokia Lumia 1520 will soon get their chance. The supersized Windows Phone is now due to reach the UK on December 6th, when it will be available through O2 at retail and Vodafone through the web. Third-party retailers like Carphone Warehouse and Phones4u will also stock the 6-inch flagship.
The HTC One X and One X+ are dead! HTC has declared on Twitter that the One X and One X+ will not be receiving KitKat updates. They'll be stuck on their current version of Android, which is 4.2.2. The company elaborated with a statement to The Verge While the One X is about 20 months old, not updating the One X+ is a surprise.
With new technologies making it easier than ever before to share and distribute quality learning content, businesses are rushing to take advantage. Plus, with the pace that technology changes these days, companies want to help keep their employees up to speed and familiar with the latest version of Salesforce, Excel or whatever the case may be.
If you care about the latest smartphones, you need to pay attention toMobile World Congress. The annual show will be held in Barcelona next week, and it's going to be filled to the brim with handsets, tablets and wearables of every shape, size and color. We've compiled all of the major rumors, teasers and official company announcements to give you a glimpse at what's to come.
You don't need to cast bones or read entrails to know that smartphones arrive in predictablecycles. February, home of Mobile World Congress, is likely to see the launch of new handsets from heavy hitters likeHTC,SamsungandLG. Those new flagships will rule the mobile hill until the fall, when Apple and Google are likely to wheel out next-gen devices of their own.
Early this year, Samsung teased the world with HomeSync, combining the power of a media center with the versatility and convenience of a personal cloud, all in one small package that sits prettily in your living room. As promised, that device is now finally available worlwide, starting with the US.As an Android device, the Samsung HomeSync is quite formidable, sporting a 1.


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Both Groupon Inc (NASDAQ:GRPN) and Priceline.com Inc (NASDAQ:PCLN) released their latest earnings reports last night. Groupon’s results initially excited Wall Street, but then investors looked at the company’s guidance and sent shares downward in after-hours and premarket trading. Priceline posted solid beats on the top and bottom lines, and investors responded by edging its share price a bit higher.
Priceline beats on earnings
Priceline.com Inc (NASDAQ:PCLN) posted non-GAAP earnings per share of $8.85 on revenue of $1.54 billion for the most recently completed quarter. GAAP earnings were $8.04 per share. Analysts had been expecting to see non-GAAP earnings of $8.29 per share on revenue of $1.52 billion.
Chris Hohn the founder and manager of TCI Fund Management was the star speaker at this year's London Value Investor Conference, which took place on May 19th. The investor has earned himself a reputation for being one of the world's most successful hedge fund managers over the past few decades. TCI, which stands for The Read More
The company’s fourth quarter gross travel bookings were $9.1 billion—a 38.8% year over year increase. Gross profits were $1.3 billion for the quarter—a 41.9% year over year increase.
Analysts bump Priceline PTs up
Analysts at several firms raised their price targets for Priceline.com Inc (NASDAQ:PCLN) after last night’s earnings report, according to Analyst Ratings. RBC Capital, Susquehanna, Bank of America and FBR Capital Markets are among those who increased their price target today. RBC Capital, Susquehanna and FBR Capital Markets all have a $1,500 per share price target on the company’s stock. Bank of America raised their target from $1,300 to $1,400 per share. A couple of days before the earnings report, Jefferies raised their price target from $1,200 to $1,475 per share.
Groupon misses on guidance
Groupon Inc (NASDAQ:GRPN) posted non-GAAP earnings of 4 cents per share on $768.4 million in revenue. That’s compared to consensus estimates of 2 cents per share in earnings on $718 million in revenue.
The place where Groupon ran into trouble was its guidance. The daily deals giant guided for current quarter EBITDA of between $20 million and $40 million. Analysts had been expecting to see EBITDA of $96 million for the quarter. Groupon blamed the lower than expected guidance on its acquisitions of Ticket Monster and ideeli, saying it expects to see a negative impact of about $20 million on its profits because of those impacts. The company also said it expects to spend $25 million more on marketing and growth initiatives during the quarter.
Analysts downgrade Groupon post-earnings
After last night’s earnings report, at least five firms either downgraded Groupon Inc (NASDAQ:GRPN) or lowered their price target for the company’s stock, according to Analyst Ratings. Credit Suisse downgraded the company from Neutral to Underperform, while Stifel Nicolaus cut its price target from $15 to $14 per share, although the firm continues to rate Groupon as a Buy.
Evercore Partners analysts lowered their price target for Groupon Inc (NASDAQ:GRPN) to $8 a share, while Bank of America cut their target from $13 to $11 per share. RBC Capital downgraded Groupon from Sector Perform to Underperform and lowered their price target from $11 to $7 a share.


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The recently announced Australian Federal Government’s 2023/24 Budget presents a mixed bag of effective fund allocations that can positively impact franchisees and small and medium-sized enterprises (SMEs) while leaving room for improvement in other crucial areas.
Areas where the government has allocated funds effectively and could positively impact Franchisees/SMEs.
One area where the government has allocated funds effectively is in providing relief for SMEs struggling with energy bills. The sharp rise in energy prices has put a strain on businesses across the country. The introduction of energy bill relief measures will undoubtedly provide much-needed respite for SMEs and franchisees, including businesses like PACK & SEND, who will benefit from incentives to invest in energy-efficient technology. These initiatives not only alleviate financial burdens but also promote sustainability, aligning with the broader goals of building a greener and more environmentally conscious economy. $1.5 billion over the next two years will go towards targeted energy bill relief to eligible households and small businesses. Small businesses will receive a total of $650 in bill support, which will undoubtedly reduce a fragment of financial pressure for local franchise and small business owners. The allocation of funds for franchisees and SME cyber protections recognises the pressing need to address the growing cyber threats faced by the sector. For many local franchise and small business owners, cyber risk ranks low on their list of priorities due to the numerous challenges they face daily. This vulnerability undoubtedly places a target on their backs. However, the government’s investment in this area is a welcome step, as it acknowledges the critical role that cyber security plays in safeguarding sensitive data and digital infrastructure. Adequate funding of $23.4 million for the Cyber Wardens program will empower SMEs to implement robust security measures and protect their operations from the increasing number of cyber-attacks targeting small businesses and franchisees. The first micro-credential for cybersecurity in the SME sector will allow these enterprises to shield themselves from the unprecedented rise of digital threats. Additionally, these initiatives enhance the resilience of SMEs, bolster their reputation, and foster customer trust, creating a more secure and stable business environment.
Surprisingly, one of the most outstanding figures to come from the 2023-24 federal budget has to do with aiding SMEs. The Industry Growth Program is set to launch with a funding of $392 million, intended to help small businesses, franchises and startups commercialise their concepts and expand their operations. Further measures mentioned with the budget include tax breaks for local franchises and small business owners, $290 million in cash flow relief for the sector via a $20,000 extension to the instant asset write-off and green energy incentive programs.
The government also seemed dedicated to relieving the stresses of staffing issues for SMEs and franchisees with the 2023-24 budget. The increase to the migration cap and ease of process for permanent residency will ultimately boost the number of individuals seeking employment, providing ample opportunities for small business owners to relieve staffing shortages. The budget also addresses the encouragement of pensioners and mothers back into the workforce.
Areas where the government could have done more or should have allocated funds differently for Franchises/SMEs.
However, while the government has shown effectiveness in certain areas, there are areas where greater attention and funding allocation could have been beneficial for franchisees and SMEs. Mental health support services, for instance, have not received the expected allocation in the budget. Many businesses are still grappling with the aftermath of the pandemic, facing economic pressures, and dealing with the trauma of the past two years. Increased spending in mental health support is crucial to address the well-being of business owners and their employees, ensuring they have access to the necessary support and resources to navigate these challenging times. There was a notable lack of mental health support in this year’s budget, considering the Australia Psychological Society noted the critical shortage of psychologists in Australia, ultimately affecting access to mental health services for many. Xero’s 2023 report on the wellbeing of small business owners revealed 24% of small business owners can’t access affordable counselling and support within Australia. The report, conducted across seven countries, indicated Australian small business owners have the second lowest overall wellbeing, ahead of only the UK. Small businesses cannot run unless there are local franchises and small business owners. More needs to be done to ensure the livelihood and wellbeing of these individuals, considering 94% of businesses within Australia are SMEs. Additionally, rising costs of living, including rent, interest rates, and the overall impact on spending, pose significant challenges for SMEs and franchises. Running a local franchise or small business is not immune to the rising cost pressures that individuals and families experience. Every dollar spent on running a business affects the income earned by business owners, who are often parents and members of the community. Balancing responsible policies that control spending and address cost pressures without pushing families and businesses over the edge is essential. A more comprehensive approach that considers the long-term impact on health, community well-being, and the ability of SMEs to remain competitive is necessary.
What would ensure SMEs and franchises do not get left behind within the cut-throat economy? Liaison and collaboration with industry associations who represent the sector and have accurate understanding of the current landscape for local franchise and small business owners. Unfortunately, while the announcements mentioned above will only provide short-term relief for SMEs, it will definitely be an aid for those doing it tough, recovering from the pandemic and facing the effects of the rising cost-of-living. Regardless, any investment in franchisees and SMEs is a win-win.


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Seventeen U.S. dairy processors, accounting for 68% of U.S. milk production, have committed to voluntary best practices for enhanced dairy traceability established by the Innovation Center for U.S. Dairy, the organization said Wednesday.
"We want the United States to be the global leader in dairy traceability," said Dermot Carey, chairman of the Innovation Center's Traceability Subcommittee. "When we announced these traceability standards in September, our ambitious goal was to have 80% of the milk supply covered within a year.
Now, most of the large processors have committed to the standards, but to hit the goal, processors of all sizes must join in, Carey says.
"Enhanced traceability is important because, in the rare event of a safety issue, what happens to one U.S. processor can affect the brands of every U.S. processor, as well as the entire U.S. dairy industry."
The Innovation Center considers enhanced traceability guidelines a priority not only for improving global competitiveness, but also for supporting customer and consumer confidence.
The new guidelines do not affect producers and on-farm practices, the organization says, but in a food safety crisis, enhanced traceability standards would quickly isolate products to protect public health and prevent brand damage to the broader U.S. dairy industry.
A full report explaining how processors can implement the practices can be found on the Center's website. To quickly evaluate if facilities already meet enhanced traceability best practices, processors can download a 21-point traceability checklist for processing plants.
All the traceability resources are based on the Innovation Center's three pillars of U.S. dairy traceability: Modeling physical plants to know where new lots enter and where products transform, creating a lot identifying mark that will be recognized and used by customers, and enhanced record-keeping that will assist in expedient and effective recall capability.
The guidelines were created out of the Food and Drug Administration's call for food safety reform under the Food Safety Modernization Act.
"We encourage all processors to make the traceability commitment," said Edith Wilkin, a subcommittee member. "Our one-year goal is within reach but our ultimate goal is continued safety for people around the world who enjoy U.S. dairy products."
The 17 dairy processors who most recently have committed to the best practices are:
• Associated Milk Producers Inc.
• California Dairies, Inc.
• Dairy Farmers of America
• Foremost Farms USA
• Glanbia Foods
• Hilmar Cheese Company
• HP Hood
• Land O'Lakes
• Leprino Foods
• Michigan Milk Producers Association
• Select Milk Producers
• Schreiber Foods
• Swiss Valley Farms
• United Dairymen of Arizona
To learn more about dairy traceability, see the Innovation Center's traceability section at www.dairytraceability.com.


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The signature roar of a Ferrari will survive the shift to electrical beneath plans being developed by the Italian supercar maker.
Ferrari has patented a technique of reproducing the sound of its high-performance petrol and diesel engines as they’re revved up in electrical fashions.
The producer says the expertise will assist protect the “driving pleasure” of its sports activities automobiles as they transfer to electrical.
Battery-powered autos usually make far much less sound when the accelerator is pressed and efficiency carmakers have been fretting over methods to keep the persona of their creations. It comes as governments around the globe legislate to ban the sale of latest petrol automobiles in years to come back.
Whereas luxurious automotive makers who typically cater to chauffeur-driven shoppers are prone to embrace the silence of an electrical engine as a promoting level, sports activities automobiles constructed by Ferrari and its friends are wanted partly due to their noise and pleasure.
“In a high-performance sports activities automotive, the sound produced by the engine (normally, an inner combustion engine) and perceived inside a passenger compartment is necessary, for a big a part of the “driving pleasure” of a high-performance sports activities automotive is as a result of very sound produced by the engine,” Ferrari’s patent reads.
Chief government officer Benedetto Vigna instructed buyers final summer time that sound is without doubt one of the “necessities” that characterises a Ferrari and proclaimed that every engine will need to have a signature tune, together with electrical ones.
It might be straightforward to document an current combustion engine in motion and play again the noise by way of audio system, however Ferrari has opted to create a brand new sound that harnesses the shifting components of an electrical automotive, based on a patent it filed earlier this month within the US.
The Italian automotive marque will amplify sounds from the electrical motor and drivetrain, adjusting the notice and quantity to correlate with the ability being delivered to imitate the impact of a petroleum engine, based on the submitting, first reported by US automotive web site Carbuzz.
In addition to sound being delivered into the cabin, it is also piped exterior the car, the patent mentioned, recreating the roar of a sports activities automotive accelerating down a street for close by onlookers.
Germany’s BMW and Dodge within the US are additionally engaged on methods of bringing high-performance EVs to life.
Dodge has recreated the throaty thrum of its gas-guzzling muscle automobiles for its Charger EV, with volumes as much as 126 decibels, or approaching rock live performance ranges.
BMW employed Oscar-winning Hollywood soundtrack composer Hans Zimmer in 2021 to create an “emotionally wealthy aural expertise” for its automobiles, in a bid to ship some further suggestions to drivers of its prime finish i7 luxurious sedan. The results steer nicely away from conventional engine noises and recreate sounds extra acquainted to the sounds of a telephone or TV turning on.
Apart from sonic considerations, supercar designers have additionally been grappling with methods to adapt to the transfer from a guide gearbox, and the related management over energy, to the always-on nature of an electrical motor.
Ferrari has been designing a manner for its electrical automotive to deal with like a mid-engined supercar.
The Italian model hopes that 80pc of its gross sales will come from all-electric automobiles and hybrid fashions by 2030, with combustion engines contributing 20pc.
Ferrari was spun out of Fiat in 2015 and its shares have gained greater than fourfold since then. Ferrari is now price greater than €43bn, not removed from the €44bn valuation of Stellantis, which not solely owns its former father or mother Fiat but additionally Chrysler, Peugeot, Maserati and Vauxhall.
Luxurious and sports activities automotive makers have had a document run of gross sales as their rich clients splashed out in the course of the pandemic. The shorter manufacturing runs related to higher-end fashions have helped protect high-end automotive makers together with Ferrari from the components shortages suffered by mass-market producers in current years.


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What you need to know
- An iPhone 11 Pro Max has been taken apart for the first time.
- The new, larger battery clocks in at 3,969 mAh.
- A new rectangular logic board is also used.
It may not go on sale until Friday, September 20th but one iPhone 11 Pro Max has already been disassembled in the name of science. And in the process it confirmed a few things we've been hearing in recent days.
The video, posted to YouTube by DChannel, shows the latest, largest iPhone in all its glory. Guts and all.
A recent TENAA filing told us that the iPhone 11 Pro Max would have a 3,969 mAh battery and sure enough we now know that is definitely the case. That's significantly larger than the iPhone XS Max's 3,174 mAh battery which explains the increase of a whole five hours battery life.
Rumors also had the new iPhone using a rectangular logic board rather than the L-shaped one of recent devices. We now know that is absolutely the case, with the new part laid out in the video. We also get a closer look at the new cameras, too.
Unfortunately for us the video is described in Vietnamese, but as the folks at 9to5Mac point out, it's only a matter of time before the iFixit team takes its own iPhone apart as well.
We may earn a commission for purchases using our links. Learn more.
Apple's 'High Desert' will star Patricia Arquette, directed by Ben Stiller
The new comedy series follows the story of Peggy, a former addict who decides to become a private investigator after her mother dies.
CEO of UK smartphone carrier EE tells employees a 5G iPhone is 'days away'
Marc Allera, CEO of EE, says that a 5G iPhone is "just days away" in a new video shared with the carrier's employees.
Czech girl tips off authorities to malicious apps on iOS and Android
Malicious apps on both iOS and Android reportedly clocked 2.4 million downloads and over $500,000 in revenue. The apps bombarded users with intrusive ads and even hid their icons to prevent users from uninstalling them.
The hottest thin cases for your iPhone 11 Pro Max are here
Protect your newest Apple product with any of these thin cases. We love them all and so will you.


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5. They make people question the boundaries of what is possible.
15. Hot dogs inspire other foods to reach for the stars.
17. They make shopping for cheap furniture something to look forward to.
18. And they can transform any meal into something special.
- The man accused in Friday's Planned Parenthood shooting in Colorado made his first court appearance. Charges are expected to be formally filed on Dec. 9. ›
- Cyber Monday 2015 could be the biggest online sales day in history, according to data from Adobe. Shoppers are on track to spend nearly $3 billion 💳📲
- And there's a hilarious new rap meme of Pope Francis, thanks to a photo taken over the weekend of him giving his blessing 🙏🎤 ›


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PARIS - The Open Internet Project, which includes 400 players in Europe's digital markets, lodged a complaint with the European Commission on Thursday against what it alleges are new anti-competitive abuses by Google. In a submission, the group accused the US Internet giant of abusing its "insurmountable" 90 per cent market share to abuse competitors and illegally using data to squeeze out rivals.
"European Consumers and Digital Entrepreneurs demand (a) ban of Google's manipulative favouring of own services and content," said a statement from the group, which includes digital publishers Axel Springer and CCM Benchmark, online publishers, tour operators, and consumer associations.
The world's top Internet search engine reached a deal with EU in February in which it agreed to display rivals' links more prominently in a bid to end a three-year case and avoid a fine of up to 5.0 billion euros.
"This has been a very long and very thorough investigation," Google executive Kent Walker said about the agreement.
But rivals, including companies included in the OIP, argue that the concessions do not go far enough and will only entrench Google's dominance of online market.
"The European Commission ... is planning to give in to the giant by concluding a settlement largely behind closed doors that would in principle legalise Google's self-preference," said the statement.
They are demanding a thorough analysis of all Google's anti-competitive practices, impose a review mechanism for algorithm changes and impose obligations on Google to supply or licence its data, among other elements.
The new complaint comes after the European Union's top court said that individuals had the right to ask the search engine to delete personal data produced by its ubiquitous search engine.
Some analysts say the ruling raises questions about online censorship and manipulation of search results.


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A recent survey from YouGov reveals widespread knowledge of cryptocurrencies in the United States, the report also shows mixed sentiments toward the technology.
YouGov, an international market research and data analytics firm, gathered data from 1,202 participants at the end of August; the poll results showed an interesting disparity in knowledge of cryptocurrency and the actual adoption of it.
The poll found that 79% of Americans were familiar with at least one cryptocurrency with Bitcoin being the most prevalent among 71% of people who said they knew of it. Ethereum came in second at 13% with Litecoin and others trailing behind.
With a vast majority of respondents knowing about cryptocurrencies, a greater disparity is revealed. Of those who said they knew of Bitcoin, 87% said they had not interacted with it; this includes buying, selling and mining.
Some 49% of the Bitcoin-aware group said, “I’m glad I didn’t buy Bitcoin earlier, and I don’t plan to buy it”, while another 15% wish they had bought earlier and now feel it’s too late. In contrast, a South African poll showed that 38% of its respondents wished they had invested sooner.
Despite this, 36% of people in the YouGov poll thought that it cryptocurrencies will eventually be more widely accepted as a means to purchase goods and services legally within ten years, while 34% disagree and don’t think this will be the case. In this group, millennials made up the majority of those who believed in crypto acceptance with 44% polling favorably.
About 25% of poll respondents think cryptocurrencies are used mostly for illegal purchases, which is a traditional but waning view. However, this skepticism does hold ground in America due to the connections found between Bitcoin and the 2016 election hacking scandal.
With regards to cryptocurrency acceptance, a positive sentiment towards cryptocurrencies is growing in the states, just over a third of those who believe in wider crypto acceptance say they have interest in primarily using crypto over the US dollar.
The article reporting the survey results writes, “However, a majority (57%) say they would not be interested in converting away from the US dollar. Millennials are almost equally split between being interested (48%) and not interested (50%).”
The bigger picture
In July, a Wells Fargo Gallup Investor and Retirement Optimism Index poll gathered data from 1,921 investors over 18 years of age with at least USD 10,000 in traditional investments. It revealed that 2% of respondents owned Bitcoin, and younger investors were keener to adopt Bitcoin should cryptocurrencies become more mainstream, a growing sentiment among millennials.
Other polls found that 50% of participants from a 2,000 person survey “would like to try out Bitcoin“, with millennials of low income being the most likely to invest. In South Korea, surveys show that cryptocurrencies are rising in popularity, and in the United Kingdom, it was reported that 3 million people have invested in Bitcoin.
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The Consumer Product Safety Commission has announced a major recall of over 120,000 Yamaha Rhino off-highway recreational vehicles. The recall involves all Rhino 450, 660 and 700 model vehicles, which have been linked to 46 deaths and hundreds of injuries. Reports of serious injury and death linked to this vehicle have been reported since 2003, leaving many to wonder if this action is an example of “too little, too late.”
Cole Portis, who heads up our firm’s Product Liability Section, has reviewed over 75 Yamaha Rhino rollover claims in the past two years. Cole is concerned that this recall – while a good first step – fails to address the inherent design flaws that make the Yamaha Rhino so susceptible to low-speed rollovers. Cole remains hopeful, however, that this government recall will serve as a wakeup call and that Yamaha will re-evaluate its practice of putting profits over people.
According to an official news release, the CPSC staff has investigated more than 50 incidents involving 46 driver and passenger deaths related to these two Rhino models. They report more than two-thirds of the cases involved rollovers, and of the rollover-related deaths and hundreds of reported injuries, many appear to involve turns at relatively low speed and on level terrain.
Almost immediately upon the Rhino entering the market, reports of rollover accidents with serious injuries began. The reports indicated that the Rhino was rolling over while turning at speeds of less than 20 mph on virtually flat ground. The Yamaha Rhino has caused a large number of devastating rollover accidents leaving adults and a number of children seriously injured, permanently maimed and, in some instances, dead.
There is evidence to suggest that Yamaha rushed the Rhino to the market before it properly tested them. Around 1990, Yamaha made an agreement with the CPSC not to produce any four-wheel ATV with a static lateral stability factor of less than .89. Because the Rhino is not an ATV – but instead is a UTV – Yamaha did not have to comply with its agreement with the CPSC. Testing of the Rhino verified that the Rhino’s static lateral stability factor is about .86, thus making the Rhino less stable than any ATV being manufactured.
In lawsuits, discovery revealed that Yamaha was aware of problems with the instability of its design in 2002 before the Rhino first hit the market and was even concerned about future lawsuits as a result. Furthermore, it appears that Yamaha conducted no specific objective dynamic testing of its vehicle’s lateral stability. No dynamic testing was performed despite Yamaha’s knowledge that during some handling or performance tests, known as running tests, about 20 rollovers occurred on the Rhino prototype vehicle. Conveniently for Yamaha, either no documentation was made of these rollover accidents or the documentation was discarded. No instrumentation was utilized in the test vehicles to record information such as acceleration, speed, rollover rate, steer input, or the like. The vehicle stability analysis conducted by Yamaha on the Rhino design was almost entirely based upon the subjective assessment of Yamaha’s test riders’ perception of the vehicle. Yamaha has admitted that it did not do any dynamic testing of the Rhino to see what would happen to passengers in the event there was a rollover. In other words, Yamaha failed to do the kind of testing required to keep drivers and passengers safe while riding in the vehicle.
When confronted with the mounting injuries caused by the Rhino design, Yamaha took a well-used corporate strategy, and blamed the consumers for their own injuries, accusing them of using aggressive driving maneuvers. The following statement was made by Yamaha:
While the Rhino has been a reliable and versatile vehicle, some operators have engaged in aggressive driving (such as sliding, skidding, fishtailing, or doing donuts) or made abrupt maneuvers (such as turning the steering wheel too far or too fast) that have resulted in side rollovers – even on flat, open areas. Unfortunately, some occupants have been seriously injured during such rollovers when they put their arms or legs outside the vehicle, resulting in crushing or other injuries.
In addition, in 2007, without admitting that the Rhino’s design was defective, Yamaha made a “special offer” to Rhino owners to retrofit free of charge the older models of the Rhino (the 2004-2007 ATV models) with free half doors and a passenger handhold. Yamaha has also installed half doors and the handhold on its 2008 Rhino model. The company claimed that these features would help people keep their limbs inside the vehicle during a rollover. However, these design changes and retrofits did not address the underlying problem; that is, the unstable design and its tendency to tip over due to its narrow wheelbase, its high center of gravity, and its top-heavy design.
Finally, in March 2008, the Consumer Product Safety Commission (CPSC) announced a major recall of over 120,000 Yamaha Rhino off-highway recreational vehicles. The recall involves all Rhino 450, 660 and 700 model vehicles. If you need more information on Rhino issues, contact Cole Portis or Chris Glover in our firm at 800-898-2034 or by email at Cole.Portis@beasleyallen.com or Chris.Glover@beasleyallen.com. You can also get more information by visiting www.yamaha-rhino-lawyer.com.


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|An ad from a recent issue of 'Time' magazine.
Under a new agreement between the magazines’ publishers and the National Association of Attorneys General, tobacco advertisers will be offered “selective binding” allowing them to have their ads pulled from school library copies at no additional cost.
A 2003 deal between publishers and tobacco companies already prevents tobacco ads from appearing in “classroom editions” of magazines like Time and Newsweek. But school libraries often subscribe to the regular editions.
A survey of 223 middle school and high school libraries by the New York State Department of Health’s Tobacco Prevention Program found that more than 70% had copies of Newsweek, Time, People and Sports Illustrated with tobacco ads.
The agreement was reached four months after New York Attorney General Eliot Spitzer wrote to major tobacco companies and the publishers to ask for selective binding options for school libraries. “This is a major success in our continuing efforts to reduce the marketing of tobacco products to children,” Mr. Spitzer said in a statement.
Tobacco companies still retain control
Although Mr. Spitzer’s announcement said the new pact will “eliminate” tobacco advertising from school library copies of the four magazines, tobacco companies retain ultimate control over the outcome. Neither Newsweek nor Time Inc., which publishes People and Sports Illustrated as well as Time, will unilaterally remove tobacco ads from copies destined for school libraries; they will instead ask tobacco advertisers whether to remove their ads from those copies.
The option will be available to tobacco advertisers before the start of the new school year.


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Tyson’s Strategic Move
Tyson Foods, the leading U.S. meat supplier, has announced its acquisition of Keystone Foods for $2.16 billion. The move signifies Tyson’s ambition to broaden its product range and global presence.
Keystone’s Vital Role
Keystone Foods, a major meat protein supplier to fast-food chains worldwide, including McDonald’s, serves as a critical link in the food industry supply chain.
Tyson’s acquisition encompasses six processing plants and an innovation center in the U.S. and eight plants and three innovation centers globally, strengthening its foothold in both domestic and international markets.
Tom Hayes, Tyson’s CEO, views Keystone as a cornerstone for international growth, particularly in the Asia-Pacific region, Europe, the Middle East, and Africa.
Keystone reported annual revenue of $2.5 billion and EBITDA of $211 million. The deal, anticipated to close by mid-next year, reflects Tyson’s strategic vision for sustained growth.
Despite the significant acquisition, the market’s subdued response indicates concerns over underlying weaknesses in Tyson’s earnings and future prospects.


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You are here
China's 2016 exports down 2% in yuan terms: Customs
[BEIJING] China's exports dropped 2 per cent in 2016 in yuan terms, official data showed Friday, as sluggish global demand weighed on the world's number two economy.
The world's largest trader in goods, China's performance affects partners from Australia to Zambia, which have been battered as its expansion has slowed to levels not seen in a quarter of a century.
The country's total exports fell to 13.84 trillion yuan last year and imports edged up 0.6 percent to 10.49 trillion yuan, Customs said.
The country saw declines in sales of electro-mechanical products and labour-intensive goods, its major exports.
"There remain some obstacles facing China's foreign trade development," Customs said, adding the international trading environment was "severe and complex".
Customs typically publishes trade data in yuan terms before releasing them in dollar terms.
The yuan's recent slide against the US dollar to eight-year lows helped lift exports in November.


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A measure of U.S. consumer confidence rose in August to the second highest reading since late 2000, a positive sign for growth in consumption in the coming months.
The Conference Board on Tuesday said its index of U.S. consumer confidence rose to 122.9 in August from a revised July figure of 120.
The index in March hit 124.9, its highest level since December 2000. It has remained at high levels despite sliding downward in recent months.
"With households unusually upbeat about their current and future prospects there is every reason to expect consumption growth to remain relatively rapid in the coming quarters," said Michael Pearce of Capital Economics in a note to clients.
The rise in confidence was primarily driven by an increase in the present-situation index, which rose to 151.2 in August from a month earlier. The expectations index increased slightly to 104 from 103.
"Consumers' short-term expectations were relatively flat, though still optimistic, suggesting that they do not anticipate an acceleration in the pace of economic activity in the months ahead," said Lynn Franco, the Conference Board's director of economic indicators.
Consumers' assessment of the labor market was also more upbeat. Those stating jobs are "plentiful" rose to 35.4% in August from 33.2% in July, while those claiming jobs are "hard to get" decreased to 17.3% from 18.7%.
Measures of sentiment across the board have illustrated strength in recent months. The University of Michigan said the preliminary reading of its consumer-sentiment index was 97.6 in August, up from 93.4 in July.
Economists follow these surveys on the basis that an increase in optimism should translate into increased consumer spending. Personal-consumption expenditures advanced at a 2.8% pace in the second quarter, up from a 1.9% gain in the first quarter.
Write to Sarah Chaney at email@example.com
(END) Dow Jones Newswires
August 29, 2017 11:38 ET (15:38 GMT)