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AUSTRALIA’S LAST VIDEO STORE?
Written by TFM on 17/01/2023
One of Australias last video stores closes it’s doors.
In Kambalda, a small mining town about 60 kilometres from Kalgoorlie in WA, the Kambalda Video Store is closing its doors forever this weekend, after 40 years of being in business.
The video store, its doors plastered with faded posters of the Princess Diaries and Dynamite Warriors is built inside an old drive-in kiosk, the spacey looking dome stands out against the blue sky and the red dirt, looking out of place in the 40-degree heat of the goldfields.
It is a spot where regulars can pull up a chair, get a cup of strong coffee and sit in the shade for a chat.
These day’s not too many people actually wander into the store owned by Khalead Assaad and his wife, who emigrated from Lebanon with their 4 boys in 1970, ending up in Kambalda to work on the nickel mines, and staying to open the video store in 1983
“40 years, he said with a smile, “we are the last video shop in Western Australia, and we are only little people, not a big company.
The “last video shop” claim is hard to confirm, as the Australian Video Rental Retailers Association actually folded in 2016.
The Assaad’s reflected on how good the outback town has been to them and their family, Mrs Assaad saying that their business could not have survived this long without the support of the “beautiful people of Kambalda”
Now in their seventies, they have watched five decades of mines closing and reopening, population dropping off and surging back up and the impact of FIFO work on the community as well as the changing technology that has seen streaming services replace the family outing to the video store on a Friday night.
Mr Assaad says retirement doesn’t suit him, he’d rather “play business” than golf, and while the store closes this weekend, he’s not quite finished yet, he still has the daunting task of trying to find a new home for the 10,000 videos lining the shelves.
Article originally published Sun 15 Jan on abc.net.au – link to full article here
Images Giulia Bertoglio


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Wednesday, April 9, 2008
LifeLock Enhances Identity Theft Services
Tempe-based identity theft prevention firm LifeLock has enhanced the firm's services, the company said Tuesday, saying that it has begun to search the Internet for people's social security numbers, credit card numbers, and other personal information. The new services are available for no charge to existing members. According to LifeLock, the new eRecon service has already begun operating. Lifelock pointed to the online sale of personal records information, and problems with theft of change of address forms at the post office.

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The jaw-dropping price of Black Coffee’s limited edition Audemars Piguet watch had his fans singing his praises.
Black Coffee isn’t one to go all out when it comes to his fashion choices but he definitely doesn’t mind forking out thousands on shoes.
More Louis Vuitton stock than the stores? Andile Mpisane has flaunted his latest luxury haul in celebration of his new song, ‘Makhwapheni’.
Somizi Mhlongo surprised his helper with Louis Vuitton and more gifts as she is expecting a pair of twins. Take a look…
A Chinese court ordered a Louis Vuitton store to cough up R117k after allegedly selling the customer a ‘fake’ handbag.
‘I hope in a few years he won’t be asking for donations’: tweeps said of rapper Focalistic’s R100 000 fashion splurge…
A limited edition Louis Vuitton bag belonging to DJ Black Coffee costs more than the price of some people’s cars!
Securing the bag? Tamia Mpisane is giving tweeps chest pains with her R100k Louis Vuitton Capucine hand bag…
With exclusivity as the main goal, here’s how price hikes are designed to drive up demand in the sought-after luxury fashion industry.
Fans of the late Virgil Abloh are fuming after he was merely referred to as a ‘Hip-Hop Fashion Designer’ in his Grammys tribute.
200 pairs of Virgil Abloh’s Nike Air Force 1 and Louis Vuitton sneakers fetched R380 million at a recent Sotheby’s auction.
Virgil Abloh’s final collection for Louis Vuitton debuted at Paris Fashion Week after his death in November 2021.
This matric pupil went back to school in style, with a Porsche, R50k Christian Dior bag and ‘essential’ Louis Vuitton glasses. Take a look…
Kabza de Small, Maphorisa and other South African DJs have been showing us fashion flames with their pricey purchases…
Kanye West is reportedly being lined up as creative director at Louis Vuitton following the death of his late friend Virgil Abloh.
The British Fashion Council’s annual awards honoured prominent fashion industry names and paid tribute to Virgil Abloh.
Virgil Abloh inspired a generation as a fashion designer and a creative, merging the worlds of streetwear and high-end fashion.
‘Till we meet again’: Black Coffee has led the celebrity tributes to close friend Virgil Abloh who died of cancer on Sunday.
‘I came to the EFF with Louis Vuitton and Gucci’: In the light of Julius Malema’s voting day ‘Versace jeans saga’, we take a look at the EFF leader’s life of luxury.
Mona Monyane just can’t get over how Louis Vuitton actually turned a traditional shopping bag into expensive fashion. Take a look…
Suicide fashion? French luxury label Givenchy has been put on blast for debuting a necklace at their recent show which resembles a noose…
Fake it till you make it: A TikToker alleges that – for a fee – a local Gucci store allows people to take photos with empty Gucci shopping bags.
Spike Lee stole the show at the recent 74th Cannes Film Festival in two eye-catching Louis Vuitton suits, colourful specs and a bouncy pair of custom Air Jordans.
AKA asked his Twitter fan base where he can get a Louis Vuitton collar for his new puppy – and their responses caught him off guard.


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Energizer hopes to cut deeper into razor market
Energizer Holdings wants to grab more of the personal care market and is expanding offerings under well-known brands such as Edge, Diaper Genie and Wet Ones.
The maker of the leading Edge shave gel brand is introducing an Edge razor in 2013 with four titanium-coated blades, Energizer executives said at an investor conference Wednesday.
The company's expanded product line also includes Diaper Genie caddies, a recently introduced Litter Genie cat litter disposal system, and Wet Ones travel packs and limited edition scented-wipe cannisters, according to slides presented at the conference.
Faced with flagging battery sales and increased consumer-brand competition, on Nov. 8, Energizer Holdings announced that it planned to reduce its global workforce by more than 10 percent, or approximately 1,500 people, as part of a restructuring it announced in September to save $200 million.
Energizer has gained traction this year on the $150 million gamble it made two years ago when it introduced the Schick Hydro, an innovative razor launched after years of work.
In addition to its Energizer and Eveready battery and lighting products, Energizer Holdings’ brands include Edge and Schick shave products, Playtex tampons and infant care items, and Hawaiian Tropic sun care.
Also Wednesday, Energizer reiterated its 2013 guidance of earnings of $6.75 to $7 a share; according to Thomson Reuters, analysts now expect the company to earn $6.82 a share.
Town & Country-based Energizer Holdings Inc. (NYSE: ENR), led by CEO Ward Klein, reported last month that its net earnings for fiscal 2012 ended Sept. 30 rose 55.6 percent to $408.9 million, on net sales that fell 1.7 percent to $4.57 billion compared with fiscal 2011.
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A national library e-lending model that pays publishers for every loan was one of the suggestions made at a discussion on sustainable models for libraries at a Westminster Media Forum on publishing this week (21st May).
Tim Coates, c.e.o. of e-book company Bilbary, made the case for a model based on “Reader- Driven Access”, where libraries do not buy copies of e-books to lend to customers, but instead allow readers to access books from a national catalogue, with the library paying a fee to the publisher for each loan.
Coates said: “Libraries have been neglected for too long. They are are seriously behind where they should be. Libraries in the US are already realising this can be a workable model. This way, the author and publisher both benefit every time a book is read, and the library isn’t spending money from its limited funds on books that aren’t being read.”
However, he said the system would need “a new senior executive body” to implement it, reporting to council leaders and not to central government.
Janene Cox, president of the Society of Chief Librarians, was a panel member for the Sieghart Review into library e-lending, and spoke about the impact the review could have on libraries. She said: “Evidence we saw on the panel suggested that remote e-lending has meant more people and more actual library visits, not less. People want to access libraries in a way which suits their lifestyle.”
Phil Bradley, the president of the Chartered Institute of Librarians & Information Professionals, challenged the idea that libraries should be focused on physical books in future. He said: “Libraries are about books as much as hospitals are about beds. In both cases they are integral to what is done—but libraries are not just about books . . . they are about reading—and in many respects, it doesn’t matter if [people] are reading a physical item or a digital copy.”


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The movie version of "Demon Slayer" "Infinity Train" will soon surpass 40 billion yen at the box office, May 10 is Purgatory's birthday, and the stage version of "Demon Slayer" Kizuna will be performed in August 2021. Even though it will soon be a year since the end of the original series, the popularity of " Demon Slayer " is only accelerating.
The most notable of these is " Demon Slayer: Hinokami Blood Tale," scheduled for release on PS4, PS5, Steam, Xbox One, and Xbox Series S|X by the end of 2021.
So far, eight characters have been introduced to compete in the Versus mode, and five of them are water breath users, which is pretty lopsided, but as expected, it doesn't end there.
The next character to join the battle was announced in the " Oni-slaying Squad News " that appeared in the May 10, 2021 (Mon.) issue of Weekly Shonen Jump #23!
Shinobu Butterfly" will be joining the game!
The new character announced to be joining the Versus Mode is "Shinobu Butterfly", an important and popular character in the game!
In conjunction with the announcement, a " Character Introduction Movie 09: Shin obu Butterfly" was also released, which shows the quick and beautiful fighting style that is typical of her, focusing mainly on stabbing attacks.
The fact that it is Tomioka-san who is being beaten to a pulp... lol.
You can also see the flashy performance of " Mushi no Breath, Butterfly Dance, Frolicking "!
Which character will be next!
For the first time in a long time, we are excited to announce the entry of a character other than a water breathing user, and that character is the popular "Shinobu Butterfly".
It seems that more and more new characters will be announced, but I am concerned that not a single demon has been announced yet.
Which character will be next?
Perhaps another announcement will be made in Weekly Shonen Jump, so let's wait for the release of Weekly Shonen Jump issue 24 on Monday, May 17, 2021!


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Monday, 7 Feb 2011
Toshiba's latest range of 20-inch REGZA GL1 3D TVs, priced at a hefty US$2,940, sold a mere 500 units since its launch a month ago, while its 12-inch sibling sold even fewer numbers. Toshiba expected sales figures to hit 1,000 for each model during its first month of sales.
Wednesday, 2 Feb 2011
Microsoft and Google are engaging in an open war of words today after Google accused Microsoft's Bing search engine of copying Google's search results.
Microsoft's Windows Phone 7's data leak has earlier been attributed to a third-party service, and just two days ago, the company has come out and admitted that the issue lies with Yahoo! Mail.
Microsoft and Yahoo have finally acknowledged that Yahoo is, as has long been suspected, culpable for Windows Phone 7's excessive data usage.
Sparkles announces its new GeForce GT 440 Graphics Cards. With 96 cores and Core Clock of 810 MHz, the graphics cards provide full support for HD, bringing the home theater experience to you.
GIGABYTE launches the latest GeForce GT 440 series graphics cards, GV-N440TC-1GI and GV-N440D3-1GI, which has up to 30% better performance and also supports DirectX 11 tessellation. GIGABYTE GT 440 series graphics cards also have higher default GPU working frequency, offering users amazing gaming experience.
The ZOTAC GeForce GT 440 series is available with 512MB and 1GB DDR5 memory that connects to the graphics processor via a wide 128-bit memory interface capable of lightning-fast communications between the graphics processor and memory.
Based on new Fermi architecture, the GeForce GT 440 is the new graphics card from Palit with 3D Movie viewing capabilities along with support for DVI, VGA and HDMI.
Gigabyte today announced that Gigabyte has been alerted by Intel about a 6 series chipset design error and is working closely with Intel to minimize the inconvenience to customers and retail stores with regard to related issues.
Tuesday, 1 Feb 2011
Sony delivers bigger zoom with less blur - Cyber-shot HX Series cameras with Full HD AVCHD and Full HD 50P/60P video.


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European stocks boosted by Chinese trade data
European stocks gained on May 7. The markets were boosted by the positive Chinese trade data that surpassed the expectations.
By 08:20 GMT DAX gained 0.6%. CAC 40 gained 0.5%. FTSE index gained 0.3%.
Earlier this day Chinese government published report on its trade. Last month exports went up 3.5% on a year. This is an unexpected dynamic - according to the forecasts, exports were supposed to contract 15.1%. Meanwhile national imports dropped 14.2%.
Luis de Guindos - the VP of the European Central Bank - stated that more fiscal cooperation in EU is needed. He also warned, that the region is going into a severe recession and called for decisive actions in order to fight the crisis.
Meanwhile Zalando shares jumped up 10%. The German e-commerce platform promised a double-digit growth this year.
On the other hand, BT Group stock lost more than 8%. The group stated that the dividend payments will be suspended until 2022. The company is trying to save the budget to cover the restructuring efforts.


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What's Holding Back Job Creation
The economy added only 80,000 jobs in October, disappointing forecasters who expected 95,000 to be added. The economy appears to be too stuck in low gear to make a real dent in the nearly 14 million unemployed.
Unemployment was down to 9.0 percent from 9.1 percent the previous month. A change that was not significant given that many adults remain on the sidelines and too discouraged to look for work.
Wholesale and retail trade, health care and social services, manufacturing, and leisure and hospitality added jobs, whereas telecommunications, banking and securities posted losses. Information technology gained and financial services lost positions in September, but both sectors posted losses for the entire third quarter reflecting broader layoffs in those sectors with more ahead.
Government employment fell by 24,000 and private sector jobs added 104,000.
Jobs creation will remain inadequate to keep unemployment from falling in the months ahead, especially considering the mass layoffs recently announced, cost cutting by many large multinationals. More hospitable exchange rate and regulatory environments abroad continue to encourage outsourcing.
Such weak jobs growth is inadequate to appreciably dent unemployment—at least 130,000 jobs are needed each month to keep up with growth in the adult population. Many adults are sitting on the sidelines and not looking for work, and are not counted among the unemployed.
Factoring in those discouraged adults and others working part time for lack of full time opportunities, the unemployment rate is about 16.2 percent. Adding college graduates in low skill positions, like counterwork at Starbucks, and underemployment is even higher.
The economy must add 13.3 million jobs over the next three years—368,000 each month—to bring unemployment down to 6 percent. Considering continuing layoffs at state and local governments and federal spending cuts, private sector jobs must increase about 400,000 a month to accomplish that goal.
Growth in the range of 4 to 5 percent is needed to get unemployment down to 6 percent over the next several years. In 2011, the economy has been growing at about 2 percent, and that pace is expected to continue through next year.
Jobs were added in recent months and unemployment remained steady only because businesses have been foregoing opportunities to increase productivity. Inadequate investment in labor saving technology, though keeping the headline unemployment number from rising too much, is an ominous sign of recession. Ultimately, employers will slash payrolls to maintain profits, and new layoffs appear in the offing. New unemployment claims continue to hover around 400K per week.
Growth is weak and jobs are in jeopardy, because temporary tax cuts, stimulus spending, large federal deficits, expensive and ineffective business regulations, and increased health care mandates and costs do not address structural problems holding back dynamic growth and jobs creation—the huge trade deficit and dysfunctional energy policies.
Oil and trade with China account for nearly the entire $550 billion trade deficit. This deficit is a tax on domestic demand that erases the benefits of tax cuts and stimulus spending.
Simply, dollars sent abroad to purchase oil and consumer goods from China, that do not return to purchase U.S. exports, are lost purchasing power. Consequently, the U.S. economy is expanding at less than 1 percent a year instead of the 5 percent pace that is possible after emerging from a deep recession and with such high unemployment.
Without prompt efforts to produce more domestic oil, redress the trade imbalance with China, relax burdensome business regulations, and curb health care mandates and costs, the U.S. economy cannot grow and create enough jobs.
Peter Morici is a professor at the Smith School of Business, University of Maryland School, and former chief economist at the U.S. International Trade Commission.Follow him on Twitter @pmorici1.


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More people have come forward reporting cases of serious liver harm from taking a plant extract called Artemisia annua, leading the Director General of Health to renew a public warning.
Artemisia annua extract (also known as Sweet Wormwood, Sweet Annie or Qing hao) is marketed as a natural dietary supplement for maintaining and supporting joint health and mobility.
The sweet-smelling extract has long been linked to Chinese traditional medicine practices.
An initial health alert about its use was issued in February after there were 14 reports of liver harm linked to the use of Arthrem and other natural products containing Artemisia annua extracts.
Since then there have been 11 additional reports, including some showing serious harm.
Some of these new reports may have been from people taking these products earlier, but they may also have been from people continuing to take the product, the Ministry of Health said.
Several products containing Artemisia annua extract are available in New Zealand.
Anyone taking these products, should be aware of the risk of harm linked to their use, the Ministry said.
The majority of cases reported to the Centre for Adverse Reactions Monitoring are linked to the use of Arthrem soft gel capsules (Promisia).
Two cases also report use of GO Arthri-Remedy 1-A-Day soft gel capsules (GO Healthy).
GO Arthri-Remedy 1-A-Day was withdrawn after publication of the previous alert.
There remain other products in New Zealand that contain Artemesia annua extract.
Medsafe recommends anyone taking these products to be alert for signs of nausea, stomach pain, pale stools, dark urine, itching all-over, yellow eyes or skin. Anyone with these symptoms should seek medical advice.
Most patients are believed to have stopped taking the plant extracts once they became sick.
Most had also either already recovered from the harm to their livers or were improving by the time they reported the links to the plant extract to authorities.
Visit www.health.govt.nz for more information.


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RIM to set up first BlackBerry Innovation Zone in India
The Innovation Zone is planned to launch in Rubus Labs in Kerala-based Startup Village; it will give young tech experts access to RIM’s mobile technology
Research In Motion (RIM) and Startup Village have announced plans to launch the first BlackBerry Innovation Zone in India. Located at Rubus Labs in Kerala-based Startup Village, the Innovation Zone will be the first of its kind in the Asia Pacific region, and will showcase the latest in BlackBerry technologies to inspire future entrepreneurs.
“Our partnership with RIM marks a historic moment for Startup Village as RIM will create an Innovation Zone in India to share experiences with young technology entrepreneurs in the country,” said Sanjay Vijayakumar, Chairman, (Board of Governors), Startup Village.
He further said, “The overall objective of the partnership is to motivate young minds by giving access to RIM’s mobile technology, as well as imparting valuable experiences and training from BlackBerry experts.”
Alec Saunders, Vice President of Developer Relations and Ecosystems Development, Research In Motion, added here, “Rubus Labs is designed to foster the spirit of innovation in the minds of young entrepreneurs and students in India, and we’re pleased to provide them with access to the latest BlackBerry products and technical know-how.”
Rubus Labs will be host to regular developer activities such as BlackBerry Hackathons and Bar Camps. Training sessions will be conducted across the 126 engineering colleges in Kerala under the BlackBerry BASE (BlackBerry Apps by Student Entrepreneurs) programme by leveraging the campus outreach network of Startup Village.
“Rubus Labs will also serve as an experiential zone for school children to introduce them to the world of smartphones and experience the limitless possibilities of mobile technology,” said Sijo Kuruvilla George, CEO, Startup Village.For more updates, be socially connected with us on
WhatsApp, Instagram, LinkedIn, Twitter, Facebook & Youtube


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School supply giveaway held in Miami
More than 1,000 book bags full of supplies to be given away
MIAMI – Hundreds of families attended a school supply giveaway Saturday at Juan Pablo Duarte Park in Miami.
More than 1,000 book bags full of school supplies were available for free at the 5th Annual Back to School Supply Giveaway.
"Our goal was to help [students] be prepared for the first day of school," organizer Jordana Zarut told Local 10 News.
Zarut is the president of the Young Dreams Community Outreach. Her organization teamed up with Commission Chairman Wilfredo "Willy" Gort to fundraise. Gort and Miami Mayor Tomas Regalado were in attendance at the event.
Several other vendors also donated time and products to the event. In addition to the supply giveaway, families were also offered free food and the opportunity for kids to get free haircuts before the school year begins later this month.
"We know there are a lot of kids in need in this community," Zarut said. "We like to reach out to them and because they're in need they come out to the event to get supplies."
Copyright 2014 by Local10.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Costa Rican company commissions tire recycling plant in Central America
A tire company from Costa Rica, Multiservicios Ecológicos, has commissioned its first tire recycling plant in Central America after the National Recycling Strategy started to classify scrap tires as a waste that requires special management due to their harmful nature to human health and environment.
The plant will rely on technology original for the province, which is operated via computer controlling the process and reducing the possibility of malfunction. Commenting on the company’s decision to launch the plant, Gustavo Quirós, general manager of Ecological Multiservices said that his firm acknowledged the demand that existed in the industry, therefore, the step to construct the facility was taken.
The new facility will be able to recycle as much as 10 tons of waste tires, or 210 light vehicle tires on an hourly rate. The functioning will be possible thanks to an up-to-date US made electrical system worth over 2 million Costa Rican colons (around 3,300 USD) which does not consume fuel to operate.
The plant is expected to produce materials that will be used in road development and surfacing projects. In addition, it will be used for patios and gardens. Furthermore, the materials can be transformed into energy source, asphalt, playground mats, flooring, molded products and more.
This comes after the Ministry of Health released its findings that only 15 percent of all imported tires are properly handled each year after they reach the end-of-life phase. The data was alarming as outdoors tires could lead to increased cases of diseases, including dengue fever, disseminated by mosquitos who often breed inside dumped tires. Therefore, the company vowed to take all necessary preventive measures.
Ecological Multiservices also expressed its wish to raise awareness of the problems and risks imposed by old tires. Gustavo Quirós stressed that the company sought to teach and demonstrate the public that scrap tires should not be treated like waste as it could be of value. He also emphasized that this approach was common in the developed states, and he wanted Costa Rica to adopt the same perspective.
Ecological Multiservices was launched in 2001 with its founding fathers aiming to transform high-risk waste into used oil. However, later, it was reshaped to tackle much bigger amounts of waste. At present, the firm is willing to establish tire recycling plants also outside of Costa Rica. Article by Central da Pauta
Article by Central de Pauta.
Weibold is an international consulting company specializing exclusively in end-of-life tire recycling and pyrolysis. Since 1999, we have helped companies grow and build profitable businesses.


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Digital signature, possible now only through computers in India, will soon be provided through mobile phones. Indian firm MobME Wireless Solutions has signed agreements with Netherlands-based Gemalto and Finland-based Valimo Wireless Oy, to provide digital signature services on mobile phones."With over 900 million mobile phone subscribers and 15 million broadband users, the mobile phone is the preferred platform for maximising the potential of digital signatures for a digital revolution in India," MobMe chief executive officer Sanjay Vijayakumar said in a statement.Digital signatures to become more widespread soonClick here for full storyThe Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .


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Beginning this month, shoppers will be able to buy Wal-Mart products by speaking to their Google Home devices. The retailer is the latest - and largest - to make its goods available on Google Express, the company's e-commerce and delivery platform.
The companies announced the partnership in separate blog posts last week.
“We’re thrilled to partner with one of the most popular stores in America to help make your shopping faster and easier,” wrote Sridhar Ramaswamy, a senior vice president for Google.
“This is just the beginning,” added Marc Lore, president of Wal-Mart U.S. eCommerce. “We will continue to focus on creating new opportunities to simplify people’s lives and help them shop in ways they’ve not yet imagined.”
The partnership, which brings together the world’s largest retailer with the world’s largest search engine, is the latest effort by Wal-Mart to chip away at Amazon’s online dominance.
Timely, incisive articles delivered directly to your inbox.


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September 14, 2023
French music streaming sales grew 9.4% in first half of 2023 according to figures released by SNEP, the French music industry association. Total sales were €397 million with physical sales up 7.3% and digital sales up 10%. The use of downloading continues to decline which is similar to other major European markets.
Alexandre Lasch, Managing Director, SNEP, said: “…freemium audio and video streaming, which now accounts for almost 20% of the market, contributes more to the growth in streaming revenues than paid offers. The market share of these segments whose model is based on advertising demonstrates the difficulty in developing a solid subscription market in France and hampers value creation.”


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Executives from Yahoo Inc on Tuesday said the company is planning a tax-free spinoff of its holdings in Chinese company Alibaba Holding Ltd during its fourth quarter earnings report.
The spin-off company will own all remaining shares that Yahoo has in Alibaba, which are valued at $40 billion, the Wall Street Journal reported. Yahoo still will run its main business and hold onto its 35.5 per cent stake in Yahoo Japan. The company will take on no debt in the deal and keep its cash on hand.
Despite Yahoo also reporting drops in earnings and revenue in the fourth quarter, company shares rose 6 per cent in afterhours trading. Yahoo’s state in Alibaba is about 85 per cent of the company’s market value.
Alibaba raised $25 billion from its initial public offering back in September, the biggest IPO in history. In the IPO, Yahoo sold 140.4 million shares for more than $9.5 billion.
By creating an entirely new company in the spin off, Yahoo will avoid paying capital gains tax on the divested business. The newly created company, flush with holding in Alibaba, will become its own publicly traded company with its own executives and management.
Yahoo said on Tuesday that its management has recommended a plan that would spin off the stake into a newly formed investment company. Stock of the new company will be issued on a pro rata basis, meaning that Yahoo shareholders will be an equivalent stake in the new company.Reuse content


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The price of food in April also increased 1.11 per cent, in the wake of rising rice demands to meet export contracts. — Photo vov
Viet Nam News -HÀ NỘI — The consumer price index in April rose 0.33 per cent against last month, following price hikes of many goods, according to the General Statistics Office (GSO).
Compared with the same period last year, the index increased 1.89 per cent, the office reported.
Deputy director of GSO’s Consumer Price Index Department Đỗ Thị Ngọc said that the rise in April was lower than the rate of 0.57 and 0.42 per cent in February and March.
"The CPI exhibits normal trends. In the first months of the year, when the country’s largest festival of Tết (Lunar New Year) falls in with high rising demands, the rising rate of the CPI is often higher,” Ngọc said.
However, she noted, if compared with April of the past four years, the 0.33 per cent rise of this month was relatively high. In April of the past four years, the CPI index inched up only 0.02-0.14 per cent.
Ngọc attributed the rise to price hikes in eight out of ten items used to calculate the CPI.
According to GSO, during this month, transport charges saw a month-on-month rise of 1.73 per cent due to two petrol price increases. The hike made up the 0.16 percentage points to the country’s CPI index rise.
The price of food in April also increased 1.11 per cent, in the wake of rising rice demands to meet export contracts.
GSO reported the price of housing and construction materials rose 0.71 per cent due to steel price hikes, while gas prices increased 2.61 per cent in the wake of global world price hikes.
Also during the month, the CPI in the country’s largest cities of HCM and Hà Nội increased 0.47 per cent and 0.32 per cent, respectively, the GSO reported.
Ngọc forecast that the CPI in the next few months would be stable after rising in April, and food prices would remain steady due to rising global rice supplies, while rice importing countries, such as Indonesia and the Philippines, are ceasing their rice imports.
In April, the price of gold saw growth of 0.3 per cent month-on-month, but fell 2.09 per cent year-on-year, while the price of the US dollar inched up 0.05 per cent month-on-month, but increased 4.47 per cent year-on-year, the GSO reported. — VNS


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Now in Batangas
Philippines Weather Forecasts for Saturday
|City||Forecast||Min||Max||Chance of rain||UV index|
|Manila||Possible thunderstorm||27||32||40%||Very High|
Safety concerns have held up remediation works at the Myer store redevelopment in the Hobart CBD, which has been flooded after a rivulet wall collapsed.
Conditions are set to take a turn for the worse over the weekend as a cold front bears down on southwestern WA.


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Current Issue:Browse a digital
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Young Los Gatos entrepreneurs launch vintage electric bicycle company
From Apples to HPs, products invented in Silicon Valley garages have taken the world by storm. Now, a group of young entrepreneurs from Los Gatos is making a splash on the world stage with the vintage-style electric bikes they're handcrafting with skill and precision.
(Craig F. Walker/The Denver Post)
Mario, flutes and trains – Colorado museum a trove for collectors
In basements, bedrooms and home offices, in cluttered drawers and neat display cases, the things we collect are all around us. Whether it's vintage postcards, baseball caps or vinyl records, antique flutes, model trains or video-game memorabilia, each has a story to tell. Full Story
Tonight's TV picks: 'Resurrection' debuts as 'True Detective' wraps rookie season
Plus, Orpah takes Lindsay Lohan to task in the actress' post-rehab reality show, 'Lindsay.'
( Manuel Balce Ceneta )
Oops! Obama misspells Aretha Franklin's iconic song
The president omitted a letter from the singer's 'R-E-S-P-E-C-T' while praising her at a White House celebration.


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Speedy makes positive start to financial year
13 July 2016
UK rental company Speedy said it was too early to say what impact Brexit would have on the its end markets but noted that there had been no deterioration in trading in the aftermath of the vote.
In a trading update given before its annual general meeting today, the company also reported a positive start to the year and said its full year results could be slightly ahead of the board’s previous expectations. Revenues for the first quarter of the financial year, ending 30 June, were slightly ahead of the same period in 2015.
Speedy said it had was following “a disciplined approach to bidding and has retained a number of major framework contracts since the start of the financial year."
The company said that utilisation rates increased to 50% by the end of the period and that its overhead costs were significantly lower than the previous year.


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ASOS should feel like your cool best friend.
That’s the aspirational mission statement by CEO Nick Beighton for UK e-commerce champion ASOS, but it’s fair to say that it’s one that’s taken a bit of a beating in recent months. In common with other fashion retailers, the online company has seen a sharp decline in sales as customers don’t decide to stock up on new clothes during lockdown - up to 25% down year-on-year over the past three weeks - while it’s also been at the center of the increasingly fraught debate around the idea of back-end warehouses being potential hotbeds of viral transmission.
Both present significant challenges, but from a wider public health point of view, it’s the latter that’s proved to be particularly problematic for the brand. ASOS isn’t alone in dealing with this challenge - Amazon has seen workers walk out of its facilities in protest at what they see as unhealthy labor conditions, while NEXT has only today managed to re-open part of its online operation after warehouse staff raised objections and forced a temporary shuttering.
But ASOS has ‘form’ when it comes to controversy over its warehouses and the working practices/conditions therein, allegations that the company has strenuously denied over the years. But the latest accusations are particularly problematic with 90% of staffers polled by trades union GMB saying that they feel unsafe at work, leading union organiser Deanne Ferguson to allege:
The situation at ASOS is disgusting – thousands of people under one roof, not enforcing social distancing. It looks exactly like a hot bed of infection – and workers are very scared.
To date, all ASOS warehouses are operational and Beighton is adamant that “we’ve reflected strict social distancing measures in all centers”, which has, he notes, resulted in reduced capacity. He cites the UK’s Barnsley, Yorkshire facility as a case in point to defend ASOS's position:
Over the last 3 weeks, either myself or a member of the exec team have been in daily dialogue with Central Government and also the local Barnsley Council. So we're very clear we're operating under their guidelines. We're very clear we're operating with under the public health guidelines…the staff on site in Barnsley can see the actions we have taken on social distancing. It's been signed off by 3 separate visits by the Barnsley Environmental Health Officer. We're doing our work in Barnsley with the approval of the local union being Community union, which is a recognized union, and also the leader of the Barnsley Metropolitan Council. So all of those things have been put into place, and we're seeing very little uncertainty from our staff base or any pressure to close internally.
It should be noted that while Community certainly hasn’t taken quite the same tone as the GMB, its last public statement on the subject on 31 March wasn’t a ‘get out of jail card’ by any manner of means:
We have been working with our members and the company for weeks to make improvements to the way the site operates, including introducing PPE and a new cleaning regime. We have been on site all day yesterday and have been there again today listening to our members’ concerns and instructing the company to take further action to improve safety, particularly around shift changes. If these changes cannot be implemented effectively and rapidly, then they should cease operating.
So what changes has ASOS made to its operations in light of the Coronavirus crisis? As Beighton noted, the company’s warehouses around the world are operating, but there have been increased operational challenges as more territories entered lockdown. Border restrictions in Europe have caused some hiccups in the labor pool for the firm’s Euro Hub in Berlin with absence rates are up across the firm's three major hubs as workers self- isolate.
There’s still risk of sourcing disruption. Exposure to China isn’t felt to have material impact and Chinese supply has now returned to normal albeit with some additional freight cost, but the European supply chain is being monitored closely. A small number of suppliers have temporarily closed, while others are operating at reduced capacity
There have inevitably been difficult calls to have with suppliers. Beighton says:
We've clearly turned down a number of a large proportion of our intake on both ASOS design and our third-party brands. A number of our partners in various territories have also gone on to a short-term shutdown, like Mauritius and some aspects of Turkey…We try to be as respectful as we possibly can with all our suppliers. We did not send a blanket e-mail. We actually manned the phones and went through the buying and retail channels to speak directly with each supplier…The buyers are still placing orders, of course, and we've made some cancellations where necessary, but done it respectfully.
As for consumer demand, bearing in mind that collapse in sales, CFO Mathew Dunn points to Italy as a suitable use case for the firm’s modelling of demand and recovery. There was, he says, a “demand shock” around the 8th of March as Lombardy and then the whole of Italy went into lockdown:
This clearly reflects customers adjusting to the realities of lockdown with their priorities lying elsewhere. However, we can then see customers respond first to demand stimulation with a stronger uplift from our promo events, followed by a gradual improvement in trading through the closed lockdown period…the initial impact of lockdown was evident in both visits and conversion. As the demand impact starts to moderate, that traffic recovers with ASOSs.com undoubtedly remaining a key part of consumers' lives. However, conversion remains subdued, reflecting ultimately the reduction in need for our product. And we would probably expect conversion to remain subdued throughout the lockdown period.
He adds a caveat that Italy might be suggestive of a slightly stronger uplift profile than other territories due to a combination of lower online penetration and the closure of local businesses, but the expectation is that a similar consumer behavior pattern will take place in the UK, France and Germany. The US is bearing up so far:
Despite still being receptive to demand stimulation, the moderation of decline is looking more subdued at the moment. This may reflect the more pronounced economic impacts on our consumers here where government protection measures are less supportive for them in general. Whilst it is useful to see this pattern, it is important to stress that we are only 3 to 4 weeks into this crisis, impacting our demand and that these trends may not be indicative of what is to come.
Beighton argues that that there is consistency to be seen in how the Coronavirus impacts takes shape:
It's been consistent across all the European territories. Whereas each territory seems to be on a different part of the curve, depending on when social restriction is implemented, traffic goes down initially and then starts to come back. We've actually seen [visits] last week and the week before in line with what the visits were weekly, prior to the pandemic. We have seen a lower conversion rate, however, through that cycle. And interestingly, we've also seen a lower returns rate pretty consistently across that.
The lower returns rate can be attributed to a shift in what is actually being bought. Dresses, suits, party clothing etc aren’t top of many people’s shopping list right now, whereas jogging pants, sweat shirts, lounge wear and exercise clothing in general are holding up - and come with lower returns rate potential anyway.
In terms of getting its wares in front of consumer eyes, the company has tapped into digital tech to keep things afloat. Beighton explains:
Clearly, social distancing meant that some of the activities in our studios, which was the bottleneck in getting some product live through the new regime, was tricky. So we've ramped up our technology, which we trialed earlier in the season, and that can put around 1,000 products live. We've implemented flat shots that are starting to feed through now. So there's less styling, less hair and makeup of models.
We've got ASOS at Home, where models are styling themselves with webinar interaction with our stylists and they're publishing content accordingly with our view. So that's been really good. And we've got contingency studios in Lewiston now, so we've got 10 studios there, too. We've got another contingency studio. So we've got multiple options to create content and newness of product.
The real impact of the current health crisis on ASOS has yet to be seen. Last week it released its half year numbers, up to the end of February, which saw a 21% year-on-year rise on sales, beating expectations, while pre-tax profit was a high of £30.1 million. But all of that was before lockdown kicked in in March in the UK and other parts of Europe. The company has financially shored itself up with by raising a war chest of £247 million through a share release and is tapping into the Covid Corporate Financing Facility launched by the Bank of England.
But there’s a lot of uncertainty ahead, not least the question of how well the firm will manage to pull off knowing when to stock up and in what quantities. That depends on when demand returns and where it returns to, both geographically and in terms of what products the company needs to have on its virtual shelves.
And of course it also needs to get ahead of the warehouse controversy, convincingly and fast, both in terms of supporting public health initiatives and limiting brand damage if it’s ever going to be “your cool best friend” again. To its credit, the firm has announced a number of Coronavirus positive actions, including offering logistics capabilities and warehouse space to Barnsley, Sheffield and Doncaster councils to support their local NHS efforts, such as providing storage & distribution services for around 1 million units of scrubs, masks and bedding across South Yorkshire.


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Honda tries to sell a car specifically to women
Updated 8:32 am, Friday, October 26, 2012
Honda plans to release a Fit model in Japan that the company hopes will attract female drivers to dealerships.
According to the designer, the Honda Fit She's theme is "adult cute" and will come in pink, brown and white colors that mirror popular eyeshadow colors. But the "adult cute" theme won't be confined to the car's color.
The car will also have a special windshield that will cut 99 percent of ultraviolet rays to help prevent those pesky wrinkles, and Plasmacluster technology in its air conditioner system will help improve the driver's skin quality.
Car companies have historically stayed away from building models specifically for women because of the relatively a smaller piece of the market. Women are increasing buying more cars in the U.S., accounting for roughly about one-third of the market.
Female-themed car models have also been historically a disaster too.
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The Dodge La Femme was also laced in pink and a few other details, but it failed to attract a consumer base. After two years, Dodge ditched the pink model, and Edmunds rated it as one of the 50 worst cars ever made.
At the Toronto Auto Show in 2000, Ford released a concept Winstar minivan that included a washer and dryer, refrigerator and microwave.
Honda doesn't have any plans to bring the Honda Fit She's to the U.S. market, but you never know.
Here is a video of the new model:


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Many jewellery karigars, who work at the various manufacturing hubs in the country hail from West Bengal. Owing to the business deficit, jewellers are forced to cut salaries of these artisans by 50 per cent, at least till Diwali, when the industry is expecting sales to increase.
Currently, many of these artisans are living off their savings and income generated through agricultural and other farm work. Both of these sources aren't sufficient to support their families and they need to go back to the cities and resume their duties. The pandemic induced lockdown and government norms related to the Covid-19 situation in major cities across India, are creating a lot of difficulties for them.
Manufacturers in Mumbai have said they are not willing to increase their overhead costs. Sales have fallen drastically and they are not ready to increase production cost.
Some of the major jewellery manufacturing and retail hubs are: Mumbai, Kolkata, Rajkot, Coimbatore, Ahmedabad, Thrissur, Junagadh, Jaipur, Bengaluru, Hyderabad and Delhi.
The outright sale of jewellery has nosedived to five per cent of the pre-Covid level. All India Gem & Jewellery Domestic Council chairman Anantha Padmanabhan noted.
Jewellery buying has come to a bare minimum, mostly families which have weddings scheduled are buying bridal jewellery. Others those who have some functions happening their family, are coming to buy jewellery as per their requirement. Casual purchases have come to a standstill. High budget purchases have been put off by many families. In such a situation jewellery sales figures have fallen considerably, forcing jewellers to make do with existing inventory. They have ample stock to last till Diwali and will not need new stock at all. As a result many artisans are out of work. Jewellers do not want to hire their services, unless demand rises and their services become essential.


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PM Modi To Inaugurate India Energy Week, Launch E20 Fuel In Karnataka
New Delhi, Feb 4 (PTI) Prime Minister Narendra Modi will launch E20, a blend of 20 per cent ethanol with petrol, and inaugurate the India Energy Week aimed at showcasing the country's 'rising prowess as an energy transition powerhouse' during his one-day visit to Karnataka on Monday.
He will also be involved in several other events, including Green Mobility Rally that he will flag off to create public awareness for green fuels and inauguration of an HAL helicopter factory in Tumakuru to boost the 'Aatmanirbhar Bharat' programme in the defence sector, a statement said .
Modi will lay the foundation stones for the Tumakuru Industrial Township and two Jal Jeevan Mission projects in Tumakuru.
Karnataka is headed for the assembly polls likely in April-May.
The prime minister will launch uniforms under the 'Unbottled' initiative of Indian Oil and each uniform will support recycling of around 28 used PET (recyclable plastic) bottles. He will also unveil the twin-cooktop model of the PSU's indoor solar cooking system, a 'revolutionary' cooking solution that works on both solar and auxiliary energy sources simultaneously, the statement said.
Guided by Modi's vision to phase out single-use plastic, Indian Oil has adopted uniforms for retail customer attendants and LPG delivery personnel made from recycled polyester (rPET) and cotton, it said.
Each set of uniform will support recycling of around 28 used PET bottles and Indian Oil is taking this initiative further through 'Unbottled', a brand for sustainable garments, launched for merchandise made from recycled polyester, the statement said.
Under this brand, the company targets to meet the requirement of uniforms for the customer attendants of other oil marketing companies, non-combat uniforms for the army, uniforms and dresses for institutions and sales to retail customers, it said. Noting that the India Energy Week (IEW) 2023 will be held in Bengaluru from February 6-8, the statement said it will bring together leaders from the traditional and non-traditional energy industry, governments and academia to discuss the challenges and opportunities that a responsible energy transition presents.
It will see the presence of more than 30 ministers from across the world. Over 30,000 delegates, 1,000 exhibitors and 500 speakers will gather for various discussions, with Modi also scheduled to participate in a a roundtable interaction with global oil and gas CEOs. He will also launch multiple initiatives in the field of green energy.
The statement said the ethanol blending programme has been a key focus area of the government to achieve self-reliance in the field of energy.
Due to the sustained efforts of the government, ethanol production capacity has seen a six times increase since 2013-14 and ethanol blending and biofuels programmes have not only augmented India's energy security but also resulted in a host of other benefits, including reduction of 318 lakh metric tonnes of CO2 emissions and foreign exchange savings of around Rs 54,000 crore, it said.
As a result, there has been payment of around Rs 81,800 crore towards ethanol supplies during 2014 to 2022 and transfer of more than Rs 49,000 crore to farmers, it added.
The government aims to achieve a complete 20 per cent blending of ethanol by 2025, and oil marketing companies are setting up 2G-3G ethanol plants that will facilitate the progress.
The Green Mobility Rally will witness participation of vehicles running on green energy sources and will help create public awareness for the green fuels.
(This story has been published from a wire agency feed without any modifications to the text. Only the headline has been changed.)
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Hancock Lumber is excited to welcome an important new member to its fleet, boom truck #482! Our Brunswick location just put the truck in service today and sent us a photo of its maiden voyage this morning. Reinvesting in our business is a key part of what Team Hancock does to deliver on our mission to be the most accurate and dependable logistics company in our industry! Every day we strive to deliver product 100% on time and in full to our customers. Our Logistics Managers send Advanced Shipment Notification emails to the job site contact the moment a delivery is scheduled, complete with a list of products and quantities scheduled to arrive. The moment a special order lands at a lumberyard, the customer is notified and asked when and how they’d like the product. Our drivers promise to call ahead before leaving for a job site so the crew can prepare for the materials to land. Hancock Lumber is Built to Deliver.
Company President, Kevin Hancock, commented on the newest addition to our fleet, “I am really excited about the new boom truck that was added to the fleet in Brunswick this morning! Those trucks are big investments, but we have become so committed to efficiency (journey value) and accuracy (OTIF, credits), that we all KNOW that truck will be put to good use for our customers!”
Welcome to Team Hancock’s fleet, boom truck #482!


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Rockstar Games has released a new trailer and some story details for Red Dead Redemption 2, the highly anticipated sequel to 2010’s Red Dead Redemption.
The studio also released a few details on the story of the upcoming game:
America, 1899. The end of the wild west era has begun as lawmen hunt down the last remaining outlaw gangs. Those who will not surrender or succumb are killed.
After a robbery goes badly wrong in the western town of Blackwater, Arthur Morgan and the Van der Linde gang are forced to flee. With federal agents and the best bounty hunters in the nation massing on their heels, the gang must rob, steal and fight their way across the rugged heartland of America in order to survive. As deepening internal divisions threaten to tear the gang apart, Arthur must make a choice between his own ideals and loyalty to the gang who raised him.
Red Dead Redemption 2 is set for release on October 26, 2018, for the PlayStation 4 and Xbox One.


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“The investment inflow to Southeast Asian countries is both a great opportunity and a challenge. Besides the advantages of human resources and the utmost support of the government, countries in the region still need to make more efforts and develop technology to keep this advantage,” said Mai Vu Minh, Chairman of SAPA Thale group.
Big corporations pour money into Southeast Asia’s technology and e-commerce companies
Southeast Asia is becoming ever more capital-attracting despite the Covid-19 pandemic and the gloomy global market. Companies in e-commerce and fintech in Southeast Asia are leading in attracting investment capital.
Recently, Facebook, Paypal, Google and Tencent have invested in Gojek—a technology group based in Indonesia. The parties have not publicly disclosed their investment size, but in an article posted on its social network, Facebook emphasized their efforts to bring millions of small businesses to the online marketplace.
In the first quarter of 2020, Grab (Singapore) and Gojek (Indonesia)—two ride-hailing companies—successfully raised more than $2 billion, accounting for about 70% of total investment in the region.
In the second quarter of 2020, the industry leading in attracting investment capital in Southeast Asia was e-commerce. According to DealStreetAsia, e-commerce companies attracted $691 million in new investments. The most successful capital raising company of the quarter was Tokopedia. The Indonesian e-commerce unicorn startup successfully raised $500 million from the Singapore-based Temasek Holdings.
The value of investment transactions in Southeast Asia increased by 91% to reach $2.7 billion, while the number of transactions increased to 184 from 116 in comparison with the same period last year.
This strong wave of investment “responds to the fact that Southeast Asia’s population is in its golden age and the opportunity to create businesses that grow by leaps and bounds ahead of the rest of the world. I think we are only initially reaching growth opportunities in Southeast Asia. We are seeing venture capital, private equity and capital inflows from family wealth management companies pouring into many companies operating in Southeast Asia due to the great opportunity here,” said Mai Vu Minh, Chairman of SAPA Thale Group, a company which invests mainly in technology, finance—banking, real estate, travel and transportation.
Southeast Asian governments are open and welcome investors
This success has been achieved thank to Southeast Asian governments creating favorable conditions to welcome investors. Indonesia plans to establish 19 industrial zones between now and 2024. It also reduces the corporate tax from 25% to 22% this year, then to 20% by 2022, one year earlier than the previous plan.
On June 17, 2020, the Thailand Board of Investment (BOI) approved investment incentives in the agricultural sector, targeting foreign companies shifting operations from China. In the economic stimulus package announced on June 5, Malaysia proposed a zero percent tax rate for 15 years for companies in the manufacturing sector with new investments exceeding 500 million ringgit ($116 million) in the country.
Myanmar will prioritize the selection of planned investments by financially strong international firms, while Vietnam aims to attract more European businesses under the European Union Vietnam Free Trade Agreement (EVFTA) which took effect on August 1, 2020.
“Technology promotes the big leaps in Southeast Asian economies. Fintech solutions hold the power to stimulate economic growth and social improvement. Therefore, we will see a lot of great things in this field in Southeast Asian countries,” said Mai Vu Minh, Chairman of SAPA Thale.


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ITAB Shop Concept AB (publ) ("ITAB") expects to report an adjusted EBITDA result, before non-recurring costs for the financial year ending 31 December 2020, which will be significantly higher than communicated in ITAB's preliminary guidance on 10 July 2020.
The improvement in results is explained by increased sales with higher profitability and earlier effects of the company's savings than previously anticipated. The uncertainty regarding distribution and production due to the ongoing pandemic has made it difficult to forecast with precision.
Adjusted EBITDA for the financial year 2020 before restructuring costs and certain items relating to non-recurring inventory write-downs is expected to amount to approximately SEK 575 million, compared to the range of SEK 380 - 420 million that was communicated on July 10, 2020. Non-recurring costs for the same period are expected to amount to approximately SEK 200 million, of which approximately SEK 75 million pertains to inventory write-downs, compared to the guidance of approximately SEK 100 million.
In addition to previously estimated non-recurring items for restructuring, the company has identified an extraordinary need to write down the inventory value by approximately SEK 75 million, of which approximately SEK 25 million is directly linked to restructuring and a further approximately SEK 50 million is of a non-recurring nature, which is primarily an effect of the reduced turnover linked to historically slow-moving stock and obsolescence.
Complete information will be presented in connection with ITAB's interim report for the fourth quarter of 2020, which will be published on February 9, at 1 p.m. The company makes no further comments before the interim report is released.
This information is such information that ITAB Shop Concept AB (publ) is obliged to make public under the EU's Market Abuse Regulation. The information was submitted for publication at 18.00 p.m. on 28 January 2021.


text:
Or rather, Nintendo of America is leaving them
. According to Game Informer Online
, which earlier this month broke news
of the Redmond giant (no, not that
one) relocating its sales, ad and marketing departments
to either New York or San Francisco, approximately 90% of the employees in the affected areas have opted to remain stationary and accept a severance.
Included in those leaving Nintendo are senior director of public relations, Beth Llewelyn, vice president of marketing and corporate affairs, Perrin Kaplan (pictured), and senior vice president of marketing and corporate communications, George Harrison.
The executive trio's time of departure is still unknown, though GI asserts that Perrin and her pals will likely stick around until after next month's Min-E3 event in Santa Monica.


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By Claire West
Ofcom research shows that internet users in the UK say they made more than double the number of online purchases in the past six months than internet users in any other major European country except Poland (19 and 14 online purchases respectively).
The next country was Germany with nine purchases.
In addition, the total value of online purchases internet users said they made in the past six months was highest in the UK with £1,031.
This was nearly double the amount spent by internet users in the next-placed country, Germany with £595.


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What’s fuelling Africa’s economic growth? Well, it’s fuel, partly. Whether you’re talking shipments of commodities overseas, or imported goods being snapped up by middle class Africans, the stuff mostly gets moved by truck on rough roads – and for that you need petrol. Read more
© The Financial Times Ltd 2015 FT and 'Financial Times' are trademarks of The Financial Times Ltd.


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They are the most beautiful eggs you have ever seen. Presented in a basket in the cafeteria at The William Penn Charter School
, these locally produced eggs evoke the color of the sky, of a latte, of cream. This is no industrial food service product. In fact, a good percentage of what's served at Penn Charter is grown right in the Delaware Valley, thanks to the efforts of a fledgling local food distribution business known as Common Market Philadelphia
It used to be a simple equation. The farmer grows the food. The customer buys the food. Over the past 50 years, the line from farm to table has become so complicated that it takes multiple PowerPoint slides to explain this lengthy, convoluted and invisible process. Common Market, a wholesale food distribution business based in the Hunting Park section of Philadelphia, offers a new model to get local food to institutional customers. Known as a food hub, businesses like Common Market are springing up all over the country.
A nascent industry that's experiencing rapid growth, the food hub concept removes the dozens of steps typically involved in growing, transporting and distributing fruit, vegetables, meat, eggs and grains. Moving from a global to local scale, food hubs create a direct connection between farmers and institutional customers, just as local farmer's markets have revolutionized the way consumers can buy directly from producers. This paradigm shift represents a major reduction in energy use, a marked increase in quality and taste, and the confidence in knowing exactly where your food comes from and how it gets here.Fifteen Kinds of Chips
Tatiana Garcia-Granados and Haile Johnston, a married couple who are very active in their East Fairmount Park community, were looking for a business idea. Both graduates of The Wharton School of the University of Pennsylvania
, they saw the potential for an overhaul of the food chain. "We were frustrated by the corner store, which sold 15 different kinds of chips but no fresh fruit," says Garcia-Granados. The push to get a farmer's market in Strawberry Mansion was overshadowed by the realization that the problem was much bigger. During a three-year investigational period funded by a Pennsylvania state grant, Garcia-Granados and Johnston, who is now a board member of Common Market, conducted focus groups with farmers, restaurants, schools, hospitals and caterers, and realized that the wholesale institutional market was in greatest need.
Bob Pierson is Secretary of the Common Market board and founder of Farm to City, an initiative that's created dozens of farmer's markets in Philadelphia neighborhoods. In 2004, Pierson met with Johnston and Garcia-Granados at Reading Terminal Market to talk about an empty warehouse they owned, and how it could best be used to promote large scale distribution of locally sourced food. Pierson points to Common Market's early strategic partnerships with Share
, a large non-profit food distribution effort aimed at low-income residents, and White Dog Community Enterprises
, a fair food project of White Dog Cafe
that had a division known as Farm to Institution. Share provided much needed space, as the original warehouse was insufficient for the scale of operations needed to sustain Common Market; White Dog brought initial clients, according to Pierson. Lancaster Farm Fresh Cooperative
is another Greater Philadelphia-area group that, like Common Market, is supplying wholesale produce sourced from nearby farms, but, says Garcia-Granados, the difference is that Lancaster Farm Fresh was founded by farmers, with a farm-centric perspective and mission and has a larger distribution area that covers Eastern PA and stretches into New York City.Hop on the Organic Train
In 2008, Common Market launched, serving Cooper Hospital
in Camden and Jefferson University Hospitals
. Fast forward to 2011. Common Market, which now employs four packers, two drivers and two administrative staff members in addition to Executive Director Garcia-Granados, now supplies over 100 clients, and projects over $1 million in revenue this year alone. Compared to its first three years, which saw a combined revenue of $1.5 million, Common Market is on a rapid growth trajectory, with customers including The School District of Philadelphia, three school districts in South Jersey, many local private schools, SEPTA and Shire Pharmaceuticals, to name just a few. Common Market has also received operational grants, and is now nationally known for its vanguard business practices.
Not only does Common Market supply institutional kitchens, but it is also doing a pay as you go CSA, in partnership with Farm to City, for employees of those companies. SEPTA and Shire employees make up about 2,500 members who pay either $20 a week or $220 for the whole summer.Out of the Farm and Into the City
The cycle of week goes like this: every few days a comprehensive availability list is sent to customers. Offerings are identified by supplier, and vary according to season. This week's list includes nearly two dozen different kinds of leafy greens, almost a dozen types of mushrooms, a wide variety of vegetables, fruit, tofu, beef, chicken, fish, grains, cheese, herbs, eggs, beans, canned, frozen and breaded vegetables, and four kinds of locally baked brownies. On Monday, Wednesday and Friday, Common Market delivers to customers, and Tuesday, Thursday and Saturday are gathering days: some farmers deliver their wares to the facility at 29th and Hunting Park, and Common Market sends trucks to pick up the rest.A global to local distribution revolution
This remarkably simple process represents a quiet revolution. Across the country, food hubs are springing up. At a recent meeting of the Greater Philadelphia Food System Stakeholder Committee
held at the DVRPC
, James Barham, an agricultural economist in the Farmers Market and Direct Marketing Research Branch of the U.S. Department of Agriculture, presented a national picture of local food distribution. The USDA recently launched the Know Your Farmer, Know Your Food initiative
, with a mission to " to carry out President Obama's commitment to strengthening local and regional food systems." Barham reports that his group is now working on a regional food hubs resource guide, and is in the process of tracking down Common Market's counterparts nationwide. "It's a nascent industry," says Barham, whose recent survey reveals that 75 percent of food hubs are less than 10 years old.
It is worth looking at food distribution from a global perspective, and Frank Camp of the Philadelphia Regional Port Authority
explained the remarkably complex procedure for getting most of what we eat to our tables. We live in a global food economy, with comestibles arriving at the busy Philadelphia port from all over the world. Philadelphia is the number one port in the US for perishables imports, with 1.4 million tons arriving annually. Camp needed two separate slides to explain the long trek from farm to commercial customer. Using Chilean grapes as an example (Philadelphia is the primary port of entry for the national distribution of Chilean grapes): from field harvest, the grapes are packed, trucked to port in Chile, loaded onto a cargo ship for ocean transportation, pass through US Customs and US Inspections before embarking on domestic transportation to a domestic warehouse, which leads to domestic distribution to commercial customers. and finally the grapes arrive at your local SuperFresh. Garcia-Grandos remarks that during this global process, about a hundred people are involved, and about three dozen people have touched the food. This estimate also applies to crops grown domestically in massive agricultural complexes.
In the case of food distribution to schools, hospitals and corporations, another chain of events occurs, involving more trucks, more processing, and an enormous amount of energy expended. Garcia-Granados refers to the big three in the food service world, names that are undoubtedly familiar if you've ever eaten in a corporate cafeteria,school or stadium: Aramark
, based in Philadelphia, which serves CHOP; Sodexo
, which supplies Temple University; and Compass Group
, which provides food services to the University of Pennsylvania. Sysco
, another well-known food supplier, provides institutions and restaurants with raw materials like Common Market, but on a grand scale with global sources. Garcia-Granados says Common Market seized an opportunity to service smaller independent customers like The William Penn Charter School.
"It's definitely not your average school cafeteria," says Penn Charter 8th grader Lyndsey Bentham. "The kitchen staff makes us aware that we are eating local-grown food."Season of the Parsnip
Joe Ginder is Director of Food Services at Penn Charter, which contracts CulinArt
, a privately owned catering company, to staff the school cafeteria. "When I started with CulinArt eight years ago, we had 64 accounts," says Ginder, and now it's over 200." Ginder buys at least 15 percent of the school's food from Common Market, and on a recent day, 75 percent of the menu's ingredients had been sourced via Common Market. "The CFO of the school told me to purchase as much as possible, as often as possible" from local farms, says Ginder. Asked about cost, Ginder says that indeed, there is a differential, but there is no comparison when approaching it from a quality standpoint; portions may be slightly smaller, but still perfectly adequate.
One other challenge is working with the seasons. Throughout the winter, Ginder relies on root vegetables and hardy leafy greens, but also uses hothouse produce as well as frozen and canned foods to get through the coldest months. "Our weekly menu reflects what's available geographically," says Ginder, who adds that the kids are pretty tired of parsnips by March.
Farm to City's Bob Pierson cites the Lawrenceville School, near Princeton, NJ, as a pioneer in retooling the entire cafeteria system to make up for the higher cost of local organic products. Cost cutting efforts included keeping ovens off until needed, and having students bus their own trays, which led to yet another, perhaps unexpected, way to cut costs. "When students saw the waste, they stopped taking such big portions. Lawrenceville took a total systems approach."Down on the Farm
Heading south in New Jersey, one of Common Market's suppliers is A.T. Buzby Farm
, which provides Garden State goodness to Common Market customers. It's a family affair. Dawn Buzby says that the farm has no retail operation on site, but sets up regularly at Headhouse Square and runs a CSA with 100 members. "We're excited about Common Market. Our stuff is staying local," says Buzby. "It's a good feeling to farm where your products are getting used." Buzby reports that Common Market, which picks up twice a week from the Salem County, NJ farm, about 40 minutes from Center City, is careful about handling produce. "People in general are becoming very aware of environmental issues, and are making decisions on how their actions impact the economy," says Buzby.
"There's a growing knowledge among purchasers and farmers that working together is good for everyone," Buzby, adds, saying supporting local farming is good for the environment, the watersheds and aquifers, and better than having all the food shipped in. She adds that knowing where your produce comes from increases food safety.
Common Market is not yet a common name in the Delaware Valley, even though its growing list of customers means you may be enjoying the literal fruits of the company's labor without even knowing it. Garcia-Granados, who attributes the company's growth to word of mouth. About three months ago, Common Market tested the waters, reaching out to a small group, and now counts every lead as a new customer. Also, Common Market has made small inroads into the Big Three, now selling to Compass Group, which turns around and offers its clients local produce. The field is wide open for Common Market, with a potentially massive roster of buyers, the only limit being supply. Yet, it is possible to envision a future where local vacant land turns fertile, and a new generation of farmers will grow food literally next door to those who eat it.SUE SPOLAN is Innovation and Job News editor for Flying Kite. Send feedback here.PHOTOS:
Zoe Lloyd, Haile Johnston, and Tatiana Garcia-Granados of Common Market
Clockwise from top left: Greg Buzby, Jim Daily, fresh Buzby strawberries, and Dallas Duffield of Buzby Farm in Salem County, N.J.
Penn Charter Director of Dining Services Joe Ginder and Executive Chef Barry Glass serve lunch built around fresh options from Common Market
Milk from Merrymead Farm in Lansdale; veggies, beef, and wheat for pizza from Common Market; strawberries from Buzby Farm, and Pequea Valley Yogurt
Fresh roasted potatoes at Penn CharterAll photographs by MICHAEL PERSICO


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Sure, you go for the animals, the entertainment, the Midway. But what really draws you to the Wisconsin State Fair is the food.
The 2013 fair has added 70 new menu items. Among this year's editions: beer-battered macaroni and cheese bites with jack cheese and bacon on a stick; beer-battered, deep-fried sliders; deep-fried peanut butter and bacon nuggets with Berry Weiss jelly; garlic-buttered new potatoes on a stick; Cajun Mac & Cheese; BBQ pulled pastrami with zesty red cabbage slaw; a Krispy Kreme burger with spicy pig candy (basically, bacon turned into candy). »Read Full Article
Lollapalooza — in Chicago's Grant Park this weekend — is one of the few music festivals that has the potential to accelerate careers, and to put heavily hyped performers in their rightful place.


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Realme U1 Budget Smartphone with ‘dewdrop notch’ and ‘powerful selfie camera’ launched in India!
Prerit Chauhan (Photo/Video) By Lokesh Goswami Ten News
New Delhi: Realme, the subbrand of Oppo today launched the Realme U1 which happens to be the first phone to come with MediaTek Helio P70 processor. Apart from the processor, the phone comes with a ‘dewdrop notch’ and a ‘powerful selfie camera’. The device will be exclusive on Amazon.in.
Realme U1 has been launched at a starting price of Rs 11,999. Realme U1 is priced at Rs 11,999 for the 3/32 GB RAM storage and Rs 14,499 for
4/64 RAM and storage variant.
With the powerful MediaTek Helio P70, multiple software optimization and youthful design,Realme U1 is a Beast Inside, Beauty Outside. The Helio P70 chip was launched in October and is based on the TSMC’s 12nm FinFET process. It comes with four ARM Cortex-A73 cores with a clocked speed of up to 2.1GHz and four ARM Cortex-A53 cores clocked at up to 2.0GHz.
Speaking on the occasion, Madav Sheth, CEO, Realme said,
“We have always gained your undying love and support for our smartphones. Be it the Power Master ‘Number series’, the Value King ‘C series’ or the Flagship for Youth ‘Pro series’, U have always been there for us. Realme U1 is the world’s first smartphone to come with the powerful MediaTek Helio P70 chipset, bringing a remarkable milestone in its young journey. ”
Realme U1 Specifications at a Glance:
Display – 6.30-inch
Processor – 2.1GHz octa-core
Front Camera- 25-megapixel
RAM- 3GB, 4GB
Storage – 32GB, 64 GB
Rear Camera – 13-megapixel + 2-megapixel
Battery Capacity- 3500mAh
Priced : 11,999 and 14,499 Rs
Available on Amazon.in By 5 December.


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With continuous leaks, Samsung Galaxy A52 devices are apparently the most leaked smartphones of 2021. Most of the information like camera display, design, and specs of this upcoming mid-range device is already out there ahead of its official announcement. Again with the new leak, it appears that the Samsung Galaxy A52 is in line to receive monthly security updates.
First informed by Galaxy Club that Samsung will present the Galaxy A52 5G and Xcover 5 with the fresh updates of security patches every month. However, Samsung didn’t make anything official yet. This may happen in the upcoming weeks. Whether this new update the monthly security patch will also apply to the 4G version of the device is still not clear. The presently available data only specifically mentions the 5G variant.
Along with this, this Samsung Galaxy A52 update appears on Samsung’s security update page for its monthly update cycle. With all the rumors suggesting that this device will come with high refresh rate screens and the main camera features optical image stabilization. This indicates that Samsung is planning very seriously about its Galaxy A52 launch.
Here are the details about the Samsung Galaxy A52 monthly updates
Many devices in the Samsung A-series get the latest security updates every quarter. Still, there are some models that hardly get into the monthly schedule. Previously it happened with A-series which was Samsung Galaxy A50. However, it didn’t happen with the Galaxy A 51.
Now Samsung is bringing these monthly updates to Galaxy A52. Also based on reports it is clear that Samsung introduced a sturdy mid-range offensive with its Galaxy A52 5G device. Some reports suggest that this device will be water-resistant and will feature an AMOLED screen with a high refresh rate. Along with this now you will also be getting Samsung high-end update policy to Galaxy A52.
In the list of Samsung devices that are getting monthly updates along with Galaxy A52. There you will find not only Galaxy A50 but also all top models, including Galaxy S series. Samsung informed that it will offer all-new devices with security updates for four years.
But still, there is no official announcement from Samsung, it seems as Samsung will provide the update for the Galaxy A52 5G device for three years. Which is similar to Samsung Galaxy A51.
Generally, Samsung offers a monthly update to flagship devices
Generally, Samsung provides this monthly update to the flagship and higher-end devices. However, this is not the first time a mid-range A-series device is getting scheduled for a monthly device. Previously Samsung also introduced Galaxy A51 and A51 5G to a Quarterly update schedule. Now Samsung is planning to provide Galaxy A52 5G to a monthly schedule. It seems like Samsung is competing with Pixel 4A 5g, which gets frequent updates from Google.
However, these monthly security patch updates are not exciting as Samsung Galaxy A52 hardware specs. Such as Screen refresh rates and megapixel counts. But these security patch updates are as important as these specs. Monthly updates will help devices with fixing the bugs and issues on a monthly basis.
In addition to this, Samsung has committed to providing a minimum of four years of regular security updates for many of its devices including the A-series. The Samsung Galaxy A52 may drop down to quarterly updates instead of the occasional frequency of four years.
Samsung Security Updates
Samsung explains its security updates as “Here at Samsung we consider privacy and security issues very seriously and implement necessary action steps to respond as quickly as possible. Securing user devices and maintaining trust is the top priority for Samsung.
Along with Samsung Galaxy A52, Samsung has listed all the devices that will get monthly and quarterly security updates in its Samsung Mobile Security blog. And for select devices, that were launched in 2019 or later will be supported with firmware security updates for a minimum of four years following global launch.
Samsung Galaxy A52 monthly security patch update and quarterly firmware security updates will feature patches. Which are for Android OS-related security issues and patches for Samsung-specific security concerns.
Apart from this, Samsung also provides security updates for mobile applications and personal computers if required. The mobile application security patch update will be available through the official Apps marketplace. This includes Samsung Galaxy Store and Google Play store.
Based on reports, the standard 4G version of the Samsung Galaxy A52 will come with a 90Hz screen. And the 5G version will feature a 120Hz panel. Both models will come with the FHD+, 2400×1080 pixels super AMOLED display. This display measures 6.5 inches and it also has a peak brightness level of 800 nits.
Coming to optics, the duo will feature a quad-camera setup on the back. Its primary sensor can be 64 megapixels with a pixel size of 0.8um, 81-degree lens. also with Optical Image Stabilization. Furthur the setup will have an 8MP sensor as well as a 123-degree ultra-wide-angle lens. The two 5MP sensors come with a 78-degree macro lens and an 85-degree depth respectively.
In addition to this, the Samsung Galaxy A52 4G version will be powered by Qualcomm Snapdragon 720G SoC. While the 5G version is powered by Qualcomm Snapdragon 750G chipset. Both will come with 6GB/8GB RAM, 128GB/256GB internal storage. And with a 32MP selfie camera, IP67 certification, 305mm headphone jack. Along with MicroSD card slot, Android 11, 4500mAh battery, and 25W fast charging.
The Samsung Galaxy A52 comes with monthly security patch updates based on the latest update and it will be available in four colors. Those are White, Black, Blue, and Violet with 4G and 5G variants. There is no official confirmation about the Samsung Galaxy A52 5G version and A52 release dates.
Based on reports Samsung’s new mid-range device, the Galaxy A52 5G will get monthly security patch updates. However, this news is yet to be officially announced by Samsung. But on the Samsung Security update page, features Samsung Galaxy A52 for its monthly update cycle. Already most of the information about his new device has been out with continuous rumors. Yet, there is no official release date for this device.


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The researchers at The Centre for Science and Environment (CSE) have alleged that many top Indian brands of honey including Dabur, Patanjali, and Zandu are selling honey adulterated with a modified sugar from China, which is difficult to detect by basic tests.
But the allegations were denied by these companies and pointed out that they meet regulatory requirements laid down by the Food Safety and Standards Authority of India.
According to CSE director general Sunita Narain, the organisation launched an investigation when beekeepers in North India reported reduced profits despite a spike in honey sales during the Covid-19 pandemic.
“It is a food fraud more nefarious and more sophisticated than what we found in our 2003 and 2006 investigations into soft drinks; more damaging to our health than perhaps anything that we have found till now – keeping in mind the fact that we are still fighting against a killer COVID-19 pandemic with our backs to the wall,” Narain said in a statement.
“Our research has found that most of the honey sold in the market is adulterated with sugar syrup. Therefore, instead of honey, people are eating more sugar, which will add to the risk of Covid-19.
Almost all, except Apis Himalaya, passed the basic tests of purity, the CSE said.
However, when the same brands were tested using NMR, which was conducted by a specialised laboratory in Germany, most brands failed. Of the 13 tested, only three brands passed the NMR test.
“It shows how the business of adulteration has evolved so that it can pass the stipulated tests in India,” said Amit Khurana, programme director of CSE’s Food Safety and Toxins team.
Saffola, MarkfedSohna, and Nature’s Nectar were the brands that passed all tests.


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Business News Agency December 4th The US auto industry is in jeopardy. Ford Motors, General Motors and Chrysler and other big auto companies have gone to Congress to ask the government to bail out. They warned that if the government does not lend a helping hand, the US auto industry and the economy will face disaster.
The US government’s bail-out plan for the auto industry is not based on the lack of consensus between Congress and the White House on the sources of funds for bailouts. The Senate Banking Committee held a public hearing on the same day, and the chief executives of the three major US automakers reported the status of the auto industry to the parliamentarians.
According to reports, Bank of America CEO Kenneth Lewis also said on the same day that he opposed the use of financial funds to save car companies under the current circumstances. Lewis’s crisis in the US auto giant asked the government to provide relief. “The three companies have to save too much.” He believes that the rescue conditions should be the restructuring of companies through mergers and mass layoffs.
As Members questioned, the consequences of the US auto industry today are caused by its own management problems. These CEOs pointed out that it is the global financial crisis that now exposes the auto industry to the risk of bankruptcy.
Currently, Senate Democrats plan to raise $25 billion from the $700 billion bailout fund as a bailout for the auto industry. However, the White House and Republican lawmakers opposed it. They believe that the $25 billion Department of Energy loan program that Congress has previously approved to support the auto industry can provide assistance.
When US Treasury Secretary Henry Paulson attended the Public House hearing on the same day, he reiterated his opposition to the use of the $700 billion bailout to rescue the auto industry. He said that the purpose of the bail-out bill is to stabilize and strengthen the financial system.
Senate Majority Leader Rhett plans to vote on the test of the auto industry's bail-out case. It is generally expected that the vote will not be high.
The precarious automobile industry in the United States has also largely affected a number of plastics manufacturers and suppliers of plastic machinery and equipment that provide automotive parts. Some manufacturers of plastic molds, especially Ford and GM parts suppliers, have also received the impact of the US auto industry downturn, such as Japan's Ube Hing Machinery Co., Ltd., the company's large machinery is mostly dedicated to GM and other large What the company did, influenced by the financial turmoil and the US auto industry, has decided to cut the advertising expenses for millions next year.
The heavy machinery department of Ubexing Machinery Co., Ltd. mainly supplies equipment for the automotive industry, such as automobile engines, gearboxes, etc., as well as plastic interior parts, into bumpers, instrument panels and so on. Ube Industries is a well-known brand in the automotive industry. For example, Toyota uses basically all of Ube's equipment, including Ford, GM, and Volkswagen of the United States. The top auto companies in the world's auto industry use Ube. Produced products.
Japan Ube Hing Machinery Co., Ltd. was developed by Ube Shinagawa Iron Works Co., Ltd., which was founded in 1914. It has a long history of nearly 100 years in the machinery industry and has an absolute market share in the field of large injection molding machines. Products include die casting machines, injection molding machines, extruders, vertical mills, bridges and other mechanical equipment. We have established a number of production and sales branches in various regions in Japan and overseas, and have contributed to the development of industries around the world.


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By: Sara Salinas
Amazon says it will spend $5 billion in the city where it builds its second headquarters and will employ 50,000 there. » Read More
Amazon.com is heading to the Sundance Film Festival this week with a long-term change in the works.
Shari Redstone has discussed adding new directors to the CBS board as she renews her push to merge the company with Viacom.
The CEO of Peugeot said that all PSA vehicles will be 100 percent electrified by 2025.
Apparel brands are grappling with solutions as items quickly fall out of fashion and consumers turn to non-traditional platforms to make purchases.
Reviewers appreciate much about Tesla's lowest-priced car, but point out some issues with its design and execution.
Luxury retail was the talk of the National Retail Federation's 2018 Big Show.
The accident comes at a sensitive time for Murdoch's 21st Century Fox.
Amazon's takeover of Whole Foods has pushed companies like Kroger and Walmart to accelerate innovations around grocery shopping.
Dorito's Blaze chips and Mtn Dew Ice are new products under those two Pepsi brands.
Chipotle Mexican Grill raised menu prices this week in markets that did not already see increases in 2017.
Wal-Mart COO Judith McKenna was named president and chief executive of its international unit effective February 1.
Travel- and retail-industry leaders are fretting about a decline in international visitors to the U.S.
Tiffany & Co. reported an 8 percent increase in net revenue during the 2017 holiday season.
An attempt by Miramax to buy Weinstein Co. has complicated plans to sell the studio to a group of investors.
Iraq's vintage cars date back to the period between the discovery of oil in the 1920s and the booming 1970s.
The product, DisposeRX, mixes with drugs and warm water to form a solid that can be safely thrown out in the trash.
Jim Cramer said there’s one thing that this market needs to do to curb the major stock shortage facing investors.
Jim Cramer examined the tech titans' weekly stock charts to determine if it's time for investors to take some profits.
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We must provide greater direction and confidence to the industry for cryptocurrency to flourish and prosper, Josh Gottheimer said. Josh Gottheimer has proposed legislation that allows the FDIC to support stablecoins in a way comparable to fiat investments.
According to Gottheimer’s suggested legislation, stablecoins supplied by authorized deposit accounts or select nonbank issuers would be referred to as certified stablecoins. Underneath this meaning, the bill says eligible stablecoins aren’t securities or commodity markets in the United States. They can be redeemed from the issuer at any time from the issuing bank.
When stablecoins are made by businesses that aren’t banks, the FDIC will have to set up a QSIF to make sure eligible stablecoin holders could exchange their cryptocurrencies for United States dollars at any time. In Gottheimer’s words, the bill is meant to protect people who own stocks from systemic danger, embezzlement, and illegal financing.
The growth of cryptocurrency has enormous prospective significance for our economic system, says the author Gottheimer. However, for cryptocurrency to flourish in the US rather than elsewhere, we need to supply the industry with more guidance and stability to help stimulate innovation and safeguard consumers.
His continued advancement in the cryptocurrency industry should not be stifled. We must ensure that the necessary policies are set up and that our country remains a global leader in advanced financial technologies.
Aside from the insurance criteria, the Office of the Comptroller of the Currency would essentially have administrative responsibility for stablecoin issuers, determining standards and regulations. The SEC and the CFTC aren’t precluded from scrutinizing non-qualified digital assets and other cryptos within the bill, according to Gottheimer.
The Bill’s Stance
The Blockchain Association and Digital Chamber of Commerce, among other cryptocurrency advocacy organizations, have stated their backing for the bill. According to Teana Baker Taylor, chief policy officer at the Digital Chamber of Commerce, this legislation will make it easier for existing stablecoin arrangements and new entrants to compete while also setting the United States on its way to a more defined regulatory framework for digital assets.
Upon President Biden’s signature, the stablecoin measure will become legislation after a year if the House and Senate adopt it. The Senate Banking Committee will also schedule hearings on Tuesday to look into the President’s Working Group on Financial Markets’ analysis on stablecoins, launched in November last year.


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A director of Proudfoot has dismissed widespread public comments that the company is to sell off its Newby store to a supermarket giant.
A number of calls had been received by The Scarborough News claiming either Sainsbury’s or the Co-op and NISA were set to purchase the flagship store of Proudfoot on Scalby Road.
However, directors have been quick to quash the speculation stating they have no intentions of selling up any of their six stores, which are located in Seamer, Eastfield, Newby, Scalby and Barton upon Humber.
Marcus Proudfoot, director of the firm, said: “I think the rumours have been confused with what is going on with the potential sale of NISA to Sainsbury’s.
“We are in the process of a re-brand and we are changing our fresh department. Proudfoots are proud to still serve the people of the town for the considerable future.”
It comes after the announcement that Sainsbury’s is looking to purchase the NISA convenience chain, which provides about 60% of Proudfoot stock, for £130m.
Britain’s second largest supermarket group has started due diligence on member-owned Nisa, which sources groceries for 2,500 small shops, all owned by families and entrepreneurs.
However, independent shopkeepers in the NISA chain are mobilising in an attempt to block the potential takeover with 75% of whom needing to approve the deal for it to go ahead.
The Newby store was first opened in 1965 and was previously run as a corner shop.
The most recent renovation to the store was undertaken in late 2010 when the butchery & deli departments were extended to allow for a wider range of food.