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Good morning. Stocks have recovered from their New Year swoon, but the good news hasn’t been evenly shared. While the Dow Jones Industrial Average and the S&P 500 are up 0.9% and 0.3%, respectively, this year, the Nasdaq Composite Index still is in the red, the WSJ’s Aaron Kuriloff reports. The decline in the tech-oriented index is another example of how investors have shied away from risk amid uncertainty about global growth and the state of the U.S. economy.
More than half of the Nasdaq’s decline this year can be attributed to 10 companies of the composite’s roughly 2,600 market-cap-weighted components, with Amazon.com Inc. accounting for nearly a fifth of the decline on its own. Seven of the 10 biggest drags on the index are biotech or health-care stocks. Biotech stocks have lured investors with the potential for outsize gains that can follow research breakthroughs, with the Nasdaq Biotechnology Index posting double-digit-percentage increases the past seven years. But biotechs also are prone to sharp pullbacks.
CFO JOURNAL TODAY
U.S. deal activity, values decline in February. Total mergers and acquisitions continued to fall from their 2015 highs in February, CFO Journal’s Tatyana Shumsky reports. The number of U.S. company deals fell 12.6% last month with 868 announcements, compared with 993 in January. Deal values fell as well. The aggregate deal value in February was $99.5 billion compared with $100.3 billion in January, and down 25% from $132.7 billion in February 2015.
THE DAY AHEAD
General Mills stock: Too sugary for investors. General Mills Inc. is fighting fierce regulatory battles and trying to turn around declining cereal sales, all while sporting a hefty valuation, writes Steven Russolillo for Ahead of the Tape. Expectations are low as the company gears up for fiscal third-quarter results Wednesday. Analysts forecast earnings for the period that ended in February of 62 cents a share, down 11% from a year earlier. Revenue is expected to have fallen by 6% to $4.1 billion.
Ackman tries to calm investors on Valeant. Activist investor William Ackman played a central role over the weekend as Valeant Pharmaceuticals International Inc. moved to assuage its investors following a series of board meetings. Losses at the firm could hurt a lot of retirees. More than 50 companies have offered Sequoia Fund, whose largest holding is Valeant, as an investment option in their employee savings plans. The fund’s performance has been dented by a 70% slide in the drugmaker’s stock this year.
Coke strives for a winning business model. After years of snail-paced progress, beverage giant Coca-Cola Co. is now racing to sell off its U.S. manufacturing and distribution by next year so it can focus on its much more profitable concentrate-making business.
U.S. commercial-property sales plunge in February. A six-year bull market for commercial real estate might be coming to an end. Just $25.1 billion worth of office buildings, stores, apartment complexes and other commercial property changed hands last month, compared with $47.3 billion in the same month a year earlier.
What’s holding back women in tech? Tech companies have disrupted other industries with apps that dispatch cars, housekeepers or pizzas in a matter of minutes. But tech firms lag behind those old-line businesses when it comes to advancing women. Not only are women underrepresented at all levels of technology firms, particularly in key engineering, product and finance roles, researchers found, but plenty of those women also believe that their gender is holding them back at work.
Google’s computing service lures high-profile clients. Alphabet Inc.’s computing-on-demand division has added Walt Disney Co.’s Disney Consumer Products and Interactive Media as a customer, giving the Google business a boost, as it tries to catch up to rivals. Sources say Alphabet will announce several more new customers at the Google Cloud Platform Global User Conference in San Francisco that starts on Wednesday.
Macy’s names REIT expert to board. Macy’s Inc. has tapped William Lenehan, an expert in real-estate investment trusts, to become a board member, as the company continues to face pressure to spin off its real estate.
Bang & Olufsen names its suitor. Denmark’s Bang & Olufsen A/S has disclosed the name of its suitor, saying Qi Jianhong, a Hong Kong investor who heads a luxury-goods distributor, is in talks to buy the maker of high-end audio equipment.
Foxconn takes a few sharp turns pursuing deal for Sharp. More than a month after Terry Gou, the chairman of Taiwan’s Foxconn Technology Group, flew to Sharp Corp.’s headquarters to clinch a nearly $6 billion bid to take over the company, the two parties have yet to come to an agreement. Mr. Gou has also been pushing Sharp to address some of the contingent liabilities in its next quarterly earnings report, by adding accounting provisions or taking write-downs.
GM to use external reports to strengthen cybersecurity. Several months after General Motors Co. started encouraging computer researchers to essentially hack its vehicles, the automaker has received “three dozen or so” reports of potential information-security vulnerabilities.
DoorDash raises $127 million. DoorDash Inc. said Tuesday it raised $127 million in its latest funding round primarily from existing investors, the latest sign of the food-delivery startup’s struggle to secure capital. The company’s fundraising took months to complete at a time when investors have soured on lofty valuations.
McDonald’s, Pizza Hut cook up new plans for India. India’s once seemingly insatiable appetite for fast food has hit a wall at McDonald’s Corp., Yum Brands Inc.’s Pizza Hut and KFC, and other established global brands. India’s increasingly sophisticated and demanding consumers blame the big fast-food players for failing to keep pace with changing tastes. For much of the last decade, sampling McDonald’s fare was an exciting new experience. Consumers say these days their outlets and menu items look dated compared with the new competition.
Recording industry reports revenue increase due to streaming. Thanks largely to the growth of subscription streaming services, the Recording Industry Association of America said its overall revenues rose nearly 1% in estimated retail value last year. Streaming now accounts for the biggest component of the U.S. market, with 34% of the recorded-music industry’s revenues reaped from streaming in 2015, up from 27% the prior year.
Businesses win lawsuit curbs with new rules. Companies notched a quiet win in December when the federal courts adopted rules intended to curb the scope of pretrial evidence requests, a change that could tip the scales in their decadeslong battle against consumer lawsuits.
Amazon sues executive recently hired by Target. Amazon.com sued a longtime logistics and supply-chain executive recently hired by Target Corp., alleging violation of a noncompete agreement. The Seattle retailer said Arthur Valdez, employed by Amazon for 16 years, was in a position to reveal confidential strategy to its rival. Target had touted Mr. Valdez’s lengthy experience in a news release last month announcing his hiring.
Union “persuader” rule to be unveiled. The Obama administration is set to issue a new rule Wednesday to give unions greater knowledge of discussions employers are having with outside advisers sometimes known as “persuaders” on ways to resist union-organizing campaigns.
China looks at introducing tax on foreign currency transactions. China is looking at introducing a tax on foreign currency transactions to curb speculative capital flows, a senior forex regulatory official said. Other tools under consideration include imposing fees on sales of forward positions; The People’s Bank of China is currently testing the fees in a pilot project.
Spotlight on lax security at Bangladesh’s central bank.Bangladesh’s central bank didn’t exactly leave the computer that connects it to the global banking system out in the open—but it may still have left it vulnerable. The Philippines’s anti-money-laundering agency filed criminal complaints against two businessmen who are allegedly central figures in the heist of $101 million from Bangladesh’s central bank.
Apple win comes with a cost. The Justice Department’s move to postpone a showdown with Apple Inc. over unlocking a terrorist’s iPhone appears to be a victory for Apple. But it comes at a cost: the suggestion that there may be a gap in Apple’s software protecting the contents of recent iPhones. “This suggests that the very thing that Apple feared already exists in some form and it exists outside of the walls of Cupertino,” said Edward McAndrew, a partner at law firm Ballard Spahr and a former federal prosecutor in Virginia.
J.P. Morgan executives say regulators should approve IEX as an exchange. The country’s largest bank is siding with upstart market IEX Group Inc. in its effort to create a new stock exchange that pledges to be a haven for long-term investors.
U.S. aims to complete retirement investment advice rule for early April. The Obama administration has told interested parties it is aiming to complete in early April a far-reaching rule to hold retirement investment advisers to stricter standards.
Oracle and Hewlett Packard head back to court. Oracle Corp. is suing Hewlett Packard Enterprise Co. over its partnership with Terix Computer Co., a third-party seller of support for the Solaris operating system. Oracle requires customers to buy technical support from it rather than from third parties.
Supreme Court upholds employee class action against Tyson foods. The Supreme Court ruled against Tyson Foods Inc. in a closely watched class-action case on the extent to which statistical evidence can be used to set damages in multiparty litigation against businesses.
Lumber Liquidators settles charges related to flooring safety. Lumber Liquidators Inc. will pay $2.5 million to California regulators to settle charges related to the safety of Chinese-made laminate flooring.
Yahoo agrees to shut down fantasy sports in New York. Yahoo Inc. rolled out changes for its daily fantasy sports operations, as other online purveyors of similar products have come under scrutiny from regulators. The move came a day after FanDuel Inc. and DraftKings Inc. did the same.
Apparel maker G-III posts lower-than-expected profit. G-III Apparel Group Ltd. reported less-than-expected fourth-quarter profit and revenue on lower sales and higher promotion costs in its outerwear business.
Nike revenue and profit climb. Nike Inc. posted a 20% jump in quarterly profit, but its sales growth was slower than expected, and executives cautioned that Wall Street’s forecasts may be too optimistic.
Krispy Kreme reports weak revenue, downbeat outlook. Krispy Kreme Doughnuts Inc. projected weak profit expansion this year, warning that a key sales metric will remain negative at international stores, as it continues to open shops abroad.
Bright spot in energy: Oil traders book record profits. Businesses that move oil and gasoline around the globe are benefiting from volatility in crude prices. Traders like Gunvor Group Ltd. and Vitol Group can benefit from big price changes regardless of whether that price is going up or down.
Citizens Financial Group Inc., a Providence, R.I.-based bank, named Randall Black controller and accounting chief, effective April 18. He will succeed Ronald Ohsberg, who will leave at the end of April to pursue other interests. Eric Aboaf, its finance chief, will assume CAO responsibilities on an interim basis. Mr. Black was most recently the chief executive, reporting to the claims administrator, for the economic and property damages settlement related to the 2010 Deepwater Horizon oil spill. Before that, Mr. Black was a managing director in Citigroup’s mortgage division and previously served as deputy chief accountant of the Office of the Comptroller of the Currency. He will receive a salary of $400,000, a bonus opportunity valued at $450,000 and a cash-and-stock award valued at $840,000, to compensate him for an unspecified award related to his previous employment.
General Cable Corp., a maker of copper, aluminum and fiber-optic cables based in Highland Heights, Ky., said CFO Brian Robinson will leave the company after a successor is identified and a subsequent transition period. The company retained recruiter Heidrick & Struggles to help with the search. Mr. Robinson has been General Cable CFO since 2007 and held the treasurer’s role until 2013. Mr. Robinson joined the company as assistant controller in 1999, was named controller in 2000 and treasurer in 2006. He received 2014 compensation valued at $2.3 million, including a salary of $480,000, stock awards valued at $1.6 million and a $161,000 bonus, according to its most recent proxy statement.
The Morning Ledger from CFO Journal cues up the most important news in corporate finance every weekday morning. Send us tips, suggestions and complaints: firstname.lastname@example.org. Get The Morning Ledger emailed to you each weekday morning by clicking here: http://on.wsj.com/TheMorningLedgerSignup. Follow us on Twitter @CFOJournal.


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Brands need a metaverse strategy.
The so-called metaverse piqued the interest of brands looking for ways to bridge the digital and physical divide amid COVID-19 lockdowns, which created a demand for virtual escapes. Now with Facebook announcing plans last week to transition into a metaverse company over the next five years, it’s become essential for brands to understand how to navigate digital worlds.
“The metaverse could be the next ubiquitous way to connect users across every platform and social touchpoint, whether it be a game, entertainment, video, Zoom, SMS or phone call. “The idea of a massive, centralized community is being invested into heavily and is coming,” says Victor David, co-founder and CEO of Epik, a global licensing agency connecting brands with major video games.
In short, the metaverse—a term coined in Neal Stephenson’s 1992 novel “Snow Crash”—is a collection of digital worlds and assets, where interoperability allows users to interact as digital versions of themselves, also known as avatars, across platforms. The ultimate goal is to allow users to generate content and connect it across digital worlds. Users will be able to take their avatars and assets and move from place to place; a “Fortnite” skin could be brought into a “Minecraft” world, for example.
Essentially, the metaverse can serve as a playground where brands can connect to fans outside the constraints of the physical world through options as broad as the internet itself. It’s no surprise that imaginative creatives and forward-looking businesses are attracted to the potential, and experts say the interest will only grow with advances in technology.
Facebook’s announcement last week of plans to create a new metaverse product group is expected to further fuel a trend that had already been gaining momentum.
Ready Player One
The COVID pandemic has served as a catalyst for the emergence of these new virtual worlds and goods. The rise of gaming, avatars, blockchain technology and NFTs, tied to social e-commerce, stand as new portals into the metaverse. As people hunkered down in their homes, games like Epic Games’ “Fortnite,” Nintendo’s “Animal Crossing: New Horizons,” Microsoft’s “Minecraft” and the millions of gaming worlds of Roblox became places where players could virtually transport themselves away from the monotony of their living rooms. Livestreams of people playing these games on platforms like YouTube, Twitch and Facebook Gaming have only increased their reach and popularity.
Now brands are looking to become part of these worlds in an effort to connect with the largely Gen Z audiences that engage in these universes. Success stories like Fortnite’s Travis Scott concert, which saw 12.3 million views; and Warner Media’s “Wonder Woman: The Themyscira Experience,” which has been visited nearly 30 million times on Roblox, prove there’s a powerful opportunity.
“We’ve been tracking the use of synthetic experiences by brands over the last couple of years, and through the pandemic it became increasingly a replacement for physical experiences. But with video games at the center of youth culture today, it’s become a critical pop culture connection,” says Jeff Roach, president and chief strategy officer at independent Irvine, California-based agency Schiefer Chopshop: SCS.
In July, SCS worked with U.K.-based design studio Blockworks to create a virtual world within the blocky building platform “Minecraft” for farming and lawn care brand John Deere. In “FarmCraft,” players complete farming missions like harvesting crops they grow themselves while learning about automation in agriculture. The experience, created to introduce the brand to a new generation of tech enthusiasts, has already been downloaded more than 2.3 million times.
A side of NFT with your VR
Meanwhile, with people spending so much time on their phones and cryptocurrency becoming more widely adopted, digital assets like non-fungible tokens, or NFTs, have become popular, as well as the use of digital avatars in apps, social media and websites. Augmented reality (AR) and virtual reality (VR) experiences are also now converging with blockchain technology to form another name for the metaverse: “Web 3.0.” Anything that sits on blockchain technology like NFTs and AR or VR experiences are part of the metaverse because they are decentralized, meaning users can own and claim them as their own.
There’s already a wide array of examples of brands experimenting in the space. Warner Bros., Gucci and Nerf, among others, have built their own virtual worlds on gaming platforms. More traditional brands, like Coca-Cola, Campbell’s Soup and Anheuser-Busch InBev, have been tiptoeing into the metaverse by creating and selling their own NFTs on blockchain-fueled platforms. Meanwhile, brands like Nike, Sephora and Porsche continue to build AR or VR creative in platforms like Snapchat.
The main driver for these experiences is to raise brand awareness and connect with a new generation of consumers who are accustomed to digital realms.
Eventually, virtual worlds and assets could become brands’ calling card, just as social media profiles and websites work today, says Cathy Hackl, a metaverse growth strategist who consults with brands like luxury fashion line Asprey and jeweler Simone Farcshou. “Just like many in the early 2000s thought they would never need a social media presence, brands in the 2020s will need to start setting up metaverse teams that will help them enter the era of Web 3.0.”
While much of the efforts thus far have centered around using virtual worlds as a marketing vehicle, there’s also an opportunity for brands to profit from these experiences through digital goods. In games like Roblox and Fortnite, users use real currency to dress their avatars with skins or collect objects. Brands then share a percentage of the sale with the platform or developer. A prime example of this is Gucci’s “Gucci Garden” Roblox event in May, where a digital version of a Gucci purse sold for more than it would in real life, despite it not carrying any value outside of the Roblox metaverse. Another popular route is to sell NFTs. While some brands are sending proceeds to charity, others like CNN, e.l.f. Cosmetics, Anheuser-Busch InBev and Porsche are experimenting with it as a new revenue stream.
Becoming part of the metaverse
For brands looking to claim a place in the metaverse, the path to get there isn’t as simple as becoming immersed in the worlds themselves, however. Brands and agencies are continuing to experiment with the most effective ways to design their own environments and how to place ads in front of people in virtual worlds.
For starters, brands need to play by specific rules. Each platform has their own approach to branded content. Roblox, for instance, is selective with the brands it chooses to work with on experiences. Facebook started allowing ads in its Oculus virtual reality games this June, but so far player backlash has stunted application. The only company using the format, Resolution Games, decided to stop after players complained. “Minecraft” also has its own set of commercial guidelines for regulating the use of logos and advertising on the platform. It’s for this reason that Blockworks focuses more on campaigns that have a youth education angle. “Minecraft” allows the virtual experiences, called “maps,” to be sponsored by brands. Along with the FarmCraft work, the agency recently created a financial literacy world for Ally Bank and an employee training simulation for PepsiCo.

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Notonthehighstreet makes first international launch
Curated online marketplace Notonthehighstreet.com has taken the first step in its international expansion plans by launching a dedicated website in Germany.
The move follows significant growth in sales and web traffic from Europe for the UK-based business.
The standalone site has launched with over 100 German sellers as well as a handful of existing UK-based sellers with the intention of growing the numbers rapidly over the coming months.
Notonthehighstreet.com co-founder and president Holly Tucker said: “We are extremely excited and proud about this, our first international launch in Germany, a territory well known for its appreciation of outstanding product design.”
Co-founder and director Sophie Cornish added: “Having experienced unprecedented growth in the UK, we are looking forward to developing a community of innovators, creators, crafters and makers across Germany and providing them with the technology, marketing and support to help their businesses grow.”
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It’s been less than three years since Google launched Google+ and the jury is still out as to who actually uses it and for what reason. Just last week, the New York Times published and interesting article highlighting how companies like Starbucks and publications like The Economist are using Google+ primarily to boost their search engine ranking efforts. Really? Is that what Google+ is for?
“When we think about posting on Google+, we think about how does it relate to our search efforts,” said Alex Wheeler, vice president of global digital marketing at Starbucks in The New York Times story. Starbucks currently has three million followers on Google+, a drop in the bucket compared to the 36 million Facebook LIKES as of this writing. However, based on Alex Wheeler’s premise, “Starbucks keeps adding posts to their Google + page to improve their search placement while it also takes advice from Google representatives on how to optimize Plus content for the search engine.”
The New York Times also describes how “The Economist has more fans on Google Plus than on Facebook — six million versus three million — and its journalists use Plus features like Hangouts. Yet Chandra Magee, The Economist’s senior director of audience development, emphasized the value of Plus as a search engine optimization tool.”
“There is potential there to help us get in front of new audiences,” she said to The New York Times. “But it also helps with our S.E.O. strategy because our posts on Google Plus actually show up in our search engine results.”
The New York Times reports Google offers brands incentives to sign up on its social media network, giving companies with Google+ profiles, “Prime placement on the right-hand side of the search results, with photos and promotional posts.”
Ok, so companies find it beneficial to create pages on Google+ to impact their search performance with the search engine. But what about consumers? Do we have any benefits? Isn’t it just double work to continue updating your Facebook and Google+ pages, especially if nobody seems to be following you on Google+?
Again, citing the The New York Times article, “nearly half of 540 million monthly active users on Google+ do not visit the social network.” So much for being “active users.” I guess I should ask The New York Times what being an “active user” means to them, but that will be for another day.
But Google seems to have a clear agenda regarding Google+ even if they are not clearly sharing it with their users. They already know that Facebook is the leading social network, however, Google goes beyond social networking trying to make Google+ just one more channel to stay in tune with every user’s online life and in that sense, they are able to reach into people’s lives well beyond what Facebook does.
There’s a reason why Google is now “forcing” you to sign up with Google+ even if you don’t want to. Your Google+ account becomes the key to access all other Google products, including Gmail, YouTube, Maps and all other services that are not even remotely related to the social network. So even if you think that you’re not “posting” your information on Google+, Google still “knows” what you’re doing, what you’re browsing, what videos you’re watching, commenting on and much more. And that’s what they really value.
According to Bradley Horowitz, vice president of product management for Google+ “Google Plus gives you the opportunity to be yourself, and gives Google that common understanding of who you are,”
As The New York Times reports, “thanks to Google+, Google knows about people’s friendships on Gmail, the places they go on maps and how they spend their time on the more than two million websites in Google’s ad network.”
Google is still collecting this information despite the fact that relatively few people use Google+ as their social network. According to Nielsen, Google+ has 29 million unique monthly users on its website and 41 million on smartphones, compared with Facebook’s 128 million users on its website and 108 million on phones.
And here comes the revelation! All of this information gathering process is only helping Google fine tune its own advertising networks. Companies and advertisers always attempt to target their ad campaigns based on assumptions about general categories, like business people that travel. Now, the ads can be much more laser focused and targeted when internet marketers learn more details about their users, such as a male business traveler who’s about to get married and planning on buying a house.
“The database of affinity could be the holy grail for more effective brand advertising,” said Nate Elliott, an analyst at Forrester studying social media and marketing responding to The New York Times. He also adds: “It is literally promotion that money can’t buy, it is something that Google could make billions off of if they sell that space tomorrow, and they’re giving it away to try to get people onto the social platform.”
While you digest all of this, I’m going to buy more shares of Google (GOOG) since it seems like the 400% growth over the past five years is not going to stop anytime soon. Of course, this is just my own opinion and you don’t have to agree with it.
Let me know your thoughts below. Until next time, this is Manuel Gil del Real (MGR)


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Press releases are available in Swedish when no translation exists.
IMU order from defense contractor and the recent anticipated technology acquisition in Satellite Communications, triggers change in ASTG sales and marketing strategy
As part of its growth strategy and solution diversification, ASTG is changing its overall sales and marketing strategy. In that regard, ASTG has started a dialogue with DataPath International AB to consider a future non-exclusive agreement, and ASTG has therefore terminated the current exclusive agreement with DataPath effective immediately.
"The past weeks has taken us forward in the execution of our strategy. With a successful agreement for the IMU business with a major defense contractor, and, as announced this morning, an anticipated expansion of our satellite communications portfolio with a land-based solution for satellite communication on the move, we also need to revise our sales and marketing plans. One part of this revision is to hire a Chief Sales Officer and in addition we are reviewing existing partner agreements in relation to the strategy and objectives of ASTG.", says Carsten Drachmann, CEO at ASTG.
Carsten Drachmann, CEO
Telefon: +45 4063 4036
ASTG includes the wholly owned subsidiary AIMS AB.
ASTG AB develops, manufactures and sells innovative 4-axes stabilizing VSAT antennas for maritime use. The company is also selling development projects based on C2SAT's antenna platform. AIMS AB develops and sells advanced inertial sensor units (IMUs) designed to measure movements in three dimensions.
The company's registered office is in Stockholm, Sweden.
For accuracy, please exclusively rely on the Swedish version. Should there be unintentional translation differences between the English and the Swedish press release, the Swedish version will take precedence.


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Though the share of agriculture in GDP fell from 60 per cent to 12 per cent at present time (not for the backward movement of the sector, but for the progress of others), as yet the sector can contribute a lot to the national economy, if planned properly. It is true that the country has made tremendous improvements in the agriculture sector regarding self-sufficiency in food production; however, many steps are due for achieving the target of national food security and export revenue. A report of this daily’s yesterday issue stated that the agriculture minister stressed the importance of going for more mechanisation and commercialisation of agriculture to reap further benefits from the sector.
It is widely believed that the sector has much potential than that has been achieved so far. Our consumption-based agriculture system still largely depends on manual cultivation formula, which is hindering the further expansion of the sector. The use of the latest introduced modern machinery is limited within a certain group of farmers, and some of them are actually not in use because of a number of problems related to ownership of arable lands. In addition, the concept of commercialisation of agriculture products is mostly unfamiliar to farmers. Moreover, our research is restricted in searching for high-yielding varieties of traditional food products and studying ways to cultivate farm produce that we have to import regularly is not laudable.


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Ha-ha! Last Thursday, November 4th, Miley Cyrus went topless for the promotion of Gucci sneakers, and as expected, her fans on social media went crazy.
Famous celebrities have been known to show off their bodies through near-naked photos, with some going as far as going topless. Recently, a 28-year-old celebrity shared a series of photos on Instagram where she posed in a designer closet wearing only a black tank top, matching underwear, and a pair of red and green-striped sneakers. In the last photo, she ditched the tank top and went topless, covering her chest with her hands. Fans were quick to comment on her post, admiring not only the cute sneakers but also her amazing figure. The celebrity captioned her post with “The shoe that sold itself” and several heart emojis.
Miley Cyrus changed into a turquoise fringe dress after her recent revealing photoshoot for an event called Gucci Love Parade in Los Angeles on Tuesday, November 2. The parade was attended by various celebrities such as Lizzo, Billie Eilish, and Macaulay Culkin, who even walked in the show. Cyrus is known for her creative tactics in promoting Gucci’s footwear. Earlier in July, she wore silver block heels and climbed on top of her father’s Nissan truck.
have no idea what will upset @billyraycyrus more – my decision to create a shirt with that message or something else entirely!
In her Instagram post, she shared a photo of herself climbing on Dick’s truck while wearing a pair of Gucci heels. Miley Cyrus is known for her dating history with famous people and flings. She has a special connection with the luxury brand Gucci as she was recently named as their brand ambassador for the Flora Gorgeous Gardenia Eau de Parfum by creative director Alessandro Michele.
Cyrus expressed her gratitude towards Gucci Beauty for giving her the opportunity to represent their brand. She also mentioned feeling like a part of the family due to their collaborations that involve vibrant colors, self-expression, and unapologetic contradiction. According to her, Flora Fantasy is all about embracing one’s true self as everyone has different notes that make them unique. She ended by thanking Alessandro Michele, the creative director of Gucci, for the chance to be part of the #GucciBeauty team.


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- Amazon's capital expenditures increased 80% in the trailing 12 months, compared to the previous 12-month period, as it builds out fulfillment, middle- and last-mile infrastructure for e-commerce delivery, CFO Brian Olsavsky said on the company's Q1 earnings call Thursday.
- The build-out of the delivery assets has resulted in more data and information that the company can use to better understand its network and provide more accurate delivery estimates, Olsavsky said.
- "We also see that there's a lot of cutoff times that we can extend, again, because we pretty much have perfect information between the order placement allocation to warehouses, where we're going to pick and box up the product and send it on its way," he said in response to an analyst's question on last-mile spending.
Amazon's infrastructure build-out is years in the making, and onlookers believe the company still has years to go before finalizing its network.
This week, a consulting firm that tracks Amazon's infrastructure said that Amazon's delivery-station model is expected to reach 506 locations in 2021 and could grow to 1,500 locations over the next three to five years.
When talking about future investments Thursday Olsavsky did mention delivery stations but also listed off numerous other asset types in the company's logistics network: fulfillment centers, sort centers, Amazon Air, line haul and trailers.
The in-sourcing of logistics has Amazon moving from a "batch process" to a "continuous-flow process," Olsavsky said. Under batch processing, Amazon would hand off packages to a third-party-delivery provider once a day, but the continuous flow allows Amazon to send packages out of its facilities five or six times per day. This is what allows it to get better data on delivery time, according to Olsavsky.
But despite this investment and transition, Amazon's one-day delivery numbers are still struggling to reach their pre-pandemic levels, Olsavsky said.
The pandemic-driven surge in demand for e-commerce has hampered Amazon's one-day delivery. This has been good for the company's sales numbers, but it has also resulted in capacity fulfillment issues.
Amazon already grew its fulfillment and logistics network by 50% in 2020. The company hasn't given any figures for expansion plans in 2021. But executives have said on recent earnings calls that more investment will help its one-day service return to pre-pandemic levels.
"It gives us a little bit more, or much more, certainty on being able to get items from point A to point B," Amazon Director of Investor Relations Dave Fildes said in February, talking about the investment in Amazon Logistics.
On Thursday, Olsavsky said that one-day delivery had successfully returned to pre-pandemic levels in Europe.
"We're starting to see in Europe not only strong 1-day, but also more broad, same-day selection, so they tend to go hand-in-hand," he said.
But there is still work to do in the U.S.
"I would say the end delivery is really a function of everything before it, and how well we can handle and process in a timely manner all the orders in North America," he said, noting that the system has been hindered by the level of volume it's handling.
The growth in parcel volume continues to push up the cost of fulfillment and shipping at Amazon. Shipping costs grew 57% YoY to reach more than $17 billion, while fulfillment costs grew 43% to reach $16.5 billion.


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Despite statements to the contrary, rumours are flying out of Asia that Sony will announce a new OLED TV at IFA 2009.
The Korea Times has quoted industry insiders by stating that the electronics behemoth will be among the few companies releasing 'game-changing products'.
It's believed that the next in Sony's OLED TV line, likely to be the XEL-2, will be above 21-inches in size, but the notion of such an announcement would be in sharp opposition to the economic problems facing every large electronics company.
Beating the economy
Sony does hold such premium products in high regard, believing that some people will always pay over the odds to have the latest tech, meaning that a price tag of up to £5,000 is not unthinkable.
Plus it will have the added cool factor of being the largest OLED screen commercially available, with the likes of LG only bringing out TVs based on the technology at around 15 inches or so.
Add to that the fact it will be 0.3mm thick / thin at certain points, and you'll have a screen every millionaire / Premier League footballer will be waiting in line (or getting their butler to wait in line) for when it's released like in 2010.


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After losing a staggering $240 billion in sales in the past year, the restaurant industry has entered a period of transition and redevelopment in 2021. Changes in consumer behavior, and how the industry reacted to them, such as a new focus on off-premises dining and takeout, are likely here to stay. For radio to participate in the category’s ongoing rebound requires understanding how the industry is adapting and evolving.
Even the definition of what, exactly, a restaurant is continues to change.
After the public health crisis caused 2020’s projected revenues to plummet by 27% last year, the industry – which encompasses all meals, snacks and alcohol prepared away from home including all takeout meals and beverages – is forecast to book $731 billion in revenue this year.
“The trend line has been reversed and we are up about 10% over 2020,” Hudson Riehle, Senior VP of the National Restaurant Association, said Wednesday. He called 2020 “the year the industry will attempt to regain sales and employment levels pre-pandemic.”
Before the COVID outbreak, just over half (51%) of the dollars Americans spend on food went to restaurants. As of March 2021, it was 49%, a dramatic improvement over Q2 2020 when it fell into the upper 30-percent range. “As on-site restrictions have eased, that proportion is moving up and there’s no doubt as the years progress ahead that the industry will represent the majority of food spending in America,” Rihle said during “Radio Works For Restaurants,” a live streaming session presented by the Radio Advertising Bureau.
The bottom fell out in April 2020 when eating and drinking establishments, which account for 70% of industry revenues, plunged more than 50% from February. A rebound began in the second and third quarters. By March 2021, the industry saw its largest sales volume since the pandemic began, clocking in at $62.2 billion. “A lot of that March number is driven by federal stimulus payments and, as the weeks progress, the effects of those payments will start to ebb,” Rihle cautioned.
On-premises dining dollar volumes remain significantly below pre-pandemic levels. Before the outbreak, over 60% of all restaurant traffic was off-premise. That shot up to 90% in Q2 and Q3 of 2020 and is currently in the low 80% range and expected to remain high as the pandemic continues.
In normal times, one of every four restaurant dollars was related to travel and tourism. But as business and leisure travel ground to a screeching halt last spring, so did those dollars. “How these travel and tourists come back in their patronage patterns becomes very important for growing sales in the time head,” said Rihle.
Pandemic Trends Here To Stay
Looking ahead, several significant changes made by restaurateurs to adapt to the pandemic are expected to remain. Menus were streamlined to make them easier to access and read in online searches. A new type of dining experience emerged, the “streetery,” as establishments added outdoor seating on streets, sidewalks and parking lots to generate additional capacity outside the restaurant. Takeout and delivery packaging was updated and operators made greater use of technology to order and pay for meals.
Many of these changes are likely here to stay. More than 70% of operators surveyed by the National Restaurant Association say they expect to keep some of these changes post-pandemic. Off-premise opportunities are expected to fuel industry growth and data will play a more crucial role as operators translate numbers from online ordering and payments systems into operating knowledge.
In the decade ahead, Riehle foresees “intelligent” restaurants that use AI “to not only predict patronage trends but to change menu pricing by time of day and weather conditions.” The number of restaurants without public access and devoted exclusively to the delivery market will increase, along with a greater emphasis on smartphone apps and new delivery systems powered by autonomous vehicles. Another trend to watch: the bundling of big tech and food in which streaming services enable ordering meals and beverages.
As more Americans are vaccinated and get out and about, operators are feeling more upbeat. Roughly 70% expect conditions to improve in the next six months. “The consumer pent-up demand for sales is still high and will definitely bolster growth going forward with overall greater emphasis on that off-premise market,” Rihle said.
The webinar also included presentations of restaurant category case studies by Nathan James, Digital Content Manager, at SummitMedia’s Omaha cluster, and Heather Michelotti, Account Executive, for Bonneville International in Denver.


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Moore’s computational law may stand unopposed, but the rate of innovation has been substantially slowed in recent decade due to efforts at reinforcing and strengthening copyright.
In the case of smartphones, the rate of innovation has suffered as use of patents held by many companies are embroiled in painful and expensive litigation, the kind that most individuals or small companies are the least likely to endure in terms of cost.
Today, Google Inc. General Counsel Kent Walker expressed his opinions on the matter, stating that “Software patents are kind of gumming up the works of innovation.”
While Google has a substantial budget, its Android efforts have been also slowed, if for nothing more than the mere fact that Android is a relatively new player, whereas most patents are held by industry leaders who have been in the mobile business for some time.
While its efforts to purchase many of patents involved are genuine, the patents are held by rather eager litigants. Microsoft, for example, has more than 18,000 patents in its portfolio. As such, Microsoft is allowed to refuse use of these to any business, intentionally retarding the process of innovation, barring its competition from access.
While some contest that this is expected, especially since companies invest their time and money into development, others point out that any incremental improvements that would naturally occur in an open source environment are impossible to implement when copyright is held for lengthy periods.
Unlike its competition, Google has only 4000 patents in its porfolio, relying on majority open source programming and exclusively so for its Android smartphone lines.


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Social media, the mainstay of the online conversation, has traveled a long way since launching over a decade ago. But the phenomenon is not ready to hit the pause button. Not even close. In fact, the likes of Facebook, Twitter, Instagram, and all the rest will be traveling down a new set of roads throughout 2018. This has been revealed by the nearly fool-proof method of gazing deep into a private crystal ball and capturing a glimpse of upcoming trends.
One of the most notable projections gleaned through our prognostication efforts is the rising use of social media live-streaming video. OK, this didn’t require the hidden powers of a crystal ball. Nevertheless, it does shed light on the magnitude of the expansion. Which will be bigger than ever. If so inclined, brand marketers will be building on their popularity with followers and curious visitors by streaming video content during the choicest parts of the day (or night). To assist marketers and other participants in these endeavors, social media services will introduce new tools designed to enhance the streaming experience.
For virtual reality fans (a group that’s widening by the nanosecond), social media will satisfy the deepest desires with content digitally enhanced by virtual reality. What was once par for the course in the gaming world will become a visual staple in the social circle – and will transform the landscape as never imagined.
Also transforming the social landscape will be new rules and guidelines governing the use and transmission of information. This is a natural road to travel, given the widespread concerns over data security and privacy. Those marketing to consumers will have to play by the new rules or risk the erosion of their loyal fan base.
If you have any questions or comments about social media trends for 2018, or about any other brand-related topic, feel free to send them our way.


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The console war is about to get really weird, as Xbox chief Phil Spencer has pledged that Minecraft will continue to exist on PlayStation platforms – despite Microsoft purchasing maker Mojang for $2.5 billion today. “Gaming is the top activity across devices,” he said, “and we see great potential to continue to grow the Minecraft community and nurture the franchise. That is why we plan to continue to make Minecraft available across platforms – including iOS, Android, and PlayStation, in addition to Xbox and PC.”
It’s unclear whether the executive’s strictly referring to the current version of the game, or hypothetical sequels, but it seems that the brand will very much live on the PlayStation 4, PlayStation 3, and Vita for the time being. Of course, we’ll have to wait and see if any future entries release on Sony’s systems as well. For now, unsurprisingly, the Redmond-based firm’s focusing on its own versions. “Our investments in cloud, Xbox Live, and mobile technology will enable players to benefit from richer and faster worlds, more powerful development tools, and more opportunities to connect with the Minecraft community.”
However, the real big news is that creator Markus ‘Notch’ Persson will be walking away from the franchise that he created. “He's decided that he doesn't want the responsibility of owning a company of such global significance,” spokesperson Owen Hill said on Mojang’s official website. “Over the past few years, he's made attempts to work on smaller projects, but the pressure of owning Minecraft became too much for him to handle. The only option was to sell Mojang. He'll continue to do cool stuff, though. Don't worry about that."
Fellow founders Carl Manneh and Jakob Porsér will also be walking away from the company as a result of the buyout. “We don't know what they're planning,” Hill admitted. “It won't be Minecraft related, but it will probably be cool."


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A new access road has been laid at Royal Arch Riverside Park, a multi-million-pound lodge development near Fettercairn, and construction is underway at the site’s cafe and bistro.
Developer Bill McDonald has now unveiled detailed plans for the holiday home site as he seeks to attract investors, with proposals including three shops, a reception building and a trout loch.
The park has partnered with leisure home manufacturers Stately Albion, Pemberton and Atlas to create the initial phase of lodges, which will lead to more than 50 units priced from £70,000 to £250,000.
Royal Arch, which has created eight jobs, is to hold an open day for prospective buyers in June.
McDonald said: “We’re very excited to launch this new venture, the result of a year of extensive planning and development, coupled with considerable investment in infrastructure and security.
“We have not been shy to invest in the park, and it’s benefiting the entire area, with considerable future spin-off to come in attracting passing food trade once we are fully established.”


text: Home / Chia sẻ / how gta san andreas multiplayer mod is still alive and thriving in 2021HOW GTA SAN ANDREAS MULTIPLAYER MOD IS STILL ALIVE AND THRIVING IN 202123/12/202150ShareIf GTA San Andreas was a person, it would get to vote in a year from now. The 17-year-old title from Rockstar Games launched to instant success, and the impact of GTA San Andreas can still be felt today. Not only is the game"s modding community passionate and thriving, it also seems to be undying nearly two decades after release. One of the strongest attractions of the game is the fan-made add-on called "GTA San Andreas Multiplayer", or GTA SAMP for short.Bạn đang xem: How gta san andreas multiplayer mod is still alive and thriving in 2021Do people still play GTA San Andreas Multiplayer?Contrary to popular belief, GTA San Andreas is not just alive and well but also thriving. According to the San Andreas Multiplayer website, over 3,760 SAMP servers are running and between 25,000 and 40,000 players are concurrently online every 24 hours.These numbers are absolutely unheard of for a 17-year-old video game that was simply brought online by fans and had no official netcode or infrastructure from the developers.The beauty of SAMP isn"t in the fact that it still has players, it"s what the community has done with its online capabilities. Fans have made battle royale modes, drift servers, heist modes and more that have kept the game alive over the years.Xem thêm: Có Nên Mua Macbook Air 2016 Không? Macbook Air 2016 Cũ Có Còn Đáng Mua Ở Năm 2020Popular YouTubers like Radal are also a large part of why SAMP continues to thrive in 2021. Playing Fortnite in San Andreas is such a novel concept that players simply can"t stay away and have to get a piece of the action.The access that players have to GTA San Andreas in territories where current-gen PCs and consoles are inaccessible is another huge factor contributing to its success. Being a 17-year-old game, players with weaker systems can more than comfortably play San Andreas Multiplayer even without a graphics card on a modern PC.These factors have contributed to GTA San Andreas" longevity over the years, and are the basis for the rumored San Andreas remake that may be announced this year.


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A lender took control of the Southland Mall in Cutler Bay after a foreclosure auction failed to result in any bids over $ 2,600.
Lack of interest in the once bustling mall formerly owned by private equity firm Investcorp could indicate how bad things have turned out for suburban Class B malls in South Florida and across the country.
Wells Fargo, representing a trust of commercial mortgage-backed securities investors, received a $ 68.7 million foreclosure judgment in January, which included the loan principal plus interest and fees, according to the filing .
The judge ordered the sale of the 990,000 square foot indoor mall at 20505 South Dixie Highway in a foreclosure auction on February 10. $ 2,600. No other investor sought to pay more and the lender was able to foreclose on the property, according to documents.
Investcorp declined to comment through a spokesperson. A lawyer representing Wells Fargo in the lawsuit did not return a request for comment.
the South Florida Business Journal first reported the news of the judgment and the auction.
Investcorp defaulted on its $ 65 million CMBS loan in April and initially sought relief from its special manager KeyBank. But later the company said the property would be “Unsustainable”, according to Trepp. A foreclosure action was filed in June and a mall receiver was appointed this summer.
In October, commercial brokerage JLL was approached to sell the CMBS $ 65.1 million loan attached to the mall. The marketing pitch mentioned the designation of the opportunity area and the potential for redevelopment of the shopping center.
Now, the lender’s plans for the mall are unclear.
The redevelopment of shopping centers has proven to be a difficult task, even for the largest shopping center owners in the country like Simon Property Group and Brookfield Real Estate Partners. Part of the challenge is buying out key tenants, who own their spaces. Another obstacle may be obtaining the necessary zoning approvals from municipal and government authorities.
Southland Mall had financial problems before the coronavirus pandemic. One of its largest key tenants, Kmart, left in 2017. A year later, his loan was transferred to special maintenance due to the retail vacancy, and its expiration date has been extended. Last year, the mall suffered another heavy blow when Sears left its store.
Its remaining tenants include JCPenney, TJ Maxx, Regal Cinemas, and LA Fitness. At the end of 2020, the occupancy rate was only 74%, according to Trepp.
Renter vacations had a huge impact on the mall’s appraised value, according to Trepp. Its valuation rose from $ 130 million in 2014 to $ 68.4 million in June.


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Leaders at tech monsters like Google, Facebook and Amazon are stopping to take occupations in the buzzy universe of crypto.
Blockchain stages, for example, Polygon and Circle have employed top ability from Big Tech firms recently, alluring them with the pitch of chipping away at the following “enormous thing” in tech – Web 3.0, or Web3.
Ryan Wyatt passed on YouTube recently to lead another gaming studio from Polygon. Wyatt had joined the Google-possessed video site back in 2014 to head up a drive into computer games content and contend all the more forcefully with Amazon’s Twitch stage.
“Whenever I began at YouTube Gaming right around eight years prior, I was the main individual there,” Wyatt told CNBC in a meeting. “We didn’t have a group. Individuals were truly beginning to show interest in gaming video.”
“I take a gander at this open door particularly the same way,” he added, portraying the current phase of blockchain improvement as “ahead of schedule” and “invigorating.”
The buzz encompassing Web3 has drawn in the absolute most splendid personalities in tech. The Web3 development proposes redesiging the web in a manner that would move famous web-based administrations over to decentralized advances like blockchain.
The rundown of Silicon Valley ability escaping for crypto additionally incorporates Sherice Torres, the previous head advertising official of Facebook’s crypto and installments unit, Novi. She was employed by Circle in January. Also Amazon cloud executive Pravjit Tiwana escaped to join crypto trade Gemini as its main innovation official.
David Marcus, the previous head of Novi, surrendered before the end of last year. While he’s yet to reveal his best course of action, Marcus has been singing the gestures of recognition of Web3 on Twitter.
“I’ve never felt this associated with a local area of manufacturers like the crypto/web3 one,” Marcus tweeted a month ago.
Specialists say tech chiefs are being attracted to the expanding business to some degree because of its fast development.
“Normally, individuals will need to deal with what they consider to be the most intriguing and imaginative improvements in the innovation space, and as of now, that is crypto and Web3,” Alex Bouaziz, CEO and fellow benefactor of finance programming firm Deel, told CNBC.
“Many are considering it to be the fate of the tech business, similarly that Facebook and Amazon were appealing before.”
Possibly rewarding profession move
There’s something else that is drawing in ability at Big Tech organizations to Web3: cash.
As per information from Blind, an interpersonal organization for tech experts, bitcoin trade Coinbase offers as much as $900,000 per year for programmers.
Interest into crypto organizations has flooded, importance they have considerably more money in excess on worthwhile pay bundles for large recruits. Blockchain new companies raised a record $25 billion in funding last year, as per CB Insight figures.
Tech new businesses additionally ordinarily let staff own a piece of their organization through investment opportunity plans. With valuations for private crypto organizations taking off, that implies early representatives could be in line for a major payout in case of a takeover or first sale of stock.
What’s more the pattern doesn’t simply apply to the U.S.
Enrollment firm Hays says it’s seeing crypto organizations target ability from any semblance of Facebook, Amazon and Apple in the U.K. also Ireland, as well.
“As more crypto/Web3 organizations arise, we expect the market for tech ability across all levels to turn out to be considerably more aggressive,” James Hallahan, overseer of U.K. also Ireland for Hays’ innovation division, told CNBC.
Web3 has its doubters
Web3 is as yet an approximately characterized term. It extensively alludes to drives pointed toward building a decentralized variant of the web based around crypto networks.
In principle, stages could compensate clients for their posts through blockchain-local tokens, flipping the publicizing energized model of administrations like Facebook and YouTube on its head.
Be that as it may, Web3 has attracted analysis from a few major names Silicon Valley. Twitter fellow benefactor Jack Dorsey contends it’s excessively brought together and constrained by a small bunch of financial speculators, while Tesla CEO Elon Musk sees it as to a greater degree a “showcasing trendy expression” than the real world.
Notwithstanding, Wyatt said that when he began at YouTube, individuals had misgivings about watching others playing computer games – even “endemic gamers.” Now, gaming is the second-greatest vertical on YouTube, as per Wyatt.
Essentially, he believes that a portion of the reaction against crypto and Web3 will die down as more sorted through encounters, similar to blockbuster computer games and social applications, begin to get carried out.
Yet, don’t anticipate that tech goliaths should accept the test without a fight.
Meta began fostering its Novi crypto wallet in 2019, and is apparently thinking about carrying out new devices for non-fungible tokens, or NFTs.


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With a history spanning almost 100 years, Hanken Works is a leading manufacturer of specialized enclosures that meet the demands of several sectors.
“We’re aiming to expand our hakomono all over the world.”
Nobuo Matsuda, President, Hanken Works Ltd.
A company that celebrates its 100th anniversary in 2023, Hanken Works manufactures specialized enclosures such as fuel tanks, hydraulic tanks and mufflers for construction, agricultural and industrial machinery.
Hanken’s enclosures, referred to in Japanese as hakomono, are crafted with a dedication to monozukuri – the pursuit of perfection at the heart of Japanese manufacturing. For President Nobuo Matsuda, monozukuri comes down to precise role distribution – “this gives us good quality, cost and delivery results” – combined with a culture of close cooperation between divisions. “The excellence of Japanese monozukuri is its focus on collaboration and transparency,” he says.
Hanken’s quality commitment is illustrated, for example, by the rigorous testing and welding procedures that guarantee the integrity of its tanks. “We’re proud to say our leak ratio is the best in the industry,” Mr. Matsuda says. “We’re currently running a ratio of plus-minus 1% of leaks happening at the production site. If we do find leaks, we repair them using advanced welding techniques. This ensures we have the best possible product and our customers remain satisfied.”
As the firm strives to boost the worldwide reach of its hakomono, Hanken’s Indonesian plant, which is integral to this drive, is set to expand. “Indonesia is the country that procures products globally. From Indonesia our products go to many countries around the globe,” Mr. Matsuda says. Hanken also aims to increase sales within Indonesia, he adds, “The country’s domestic market has a lot of potential. There’ll be a large market there in the future.”


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Photo by: Jimmy Heng
Bookstore Line Shorter Than Usual, Students Say
August 21, 2017
The Fresno City College bookstore has been notorious for having long lines throughout the first week of the semester. However, it wasn’t the case the first week of the fall semester.
Jonah Schneider, a student who waited in line, says that he waited 20 minutes or less to walk in the store when it used to take twice that time.
Are more students just finding other places to buy their textbooks? Many students place lower prices as their top priority.
Students share that finding textbooks online or purchasing e-books are usually the cheapest option available to students. Websites such as Amazon and Chegg have become very popular sites to rent or purchase textbooks.
However, not all students prefer buying them online. Vong Vang, a first-year FCC student and animation major, says the prices of bookstore textbooks are relatively the same as they are online and that students have to be careful when they’re having something delivered to their home.
“I have never bought from the bookstore and will never do so in the future,” said Jacina Dailey, a second-year FCC student and English major. “All of my books, I find online for much cheaper. I prefer physical, but if an e-book is cheaper, I’ll get it.”


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Bakers and Pie Makers from all over Australia converged on Melbourne this year to vie for the most sought after award in their industry, The Official Great Aussie Pie Competition.
The competition was judged over a four day period by an elite team of 16 professional judges from the baking industry. There were 13 categories of pies appraised, including Overall Plain Pie, Overall Gourmet Pie, Red Meat, Gourmet, Poultry, Game, Seafood, Vegetarian, Gluten Free, Brekkie & Apple. 2 new categories were added this year; Sausage Roll & The John Ross Most Innovative Pie
Bakers have once again proven that competing and winning medals at this highly regarded event can be paramount in the promotion of their pies. Now in it’s 25th year, this competition has on many occasions turned small pie producers into million dollar businesses by winning.
The Official Great Aussie Pie Competition has always generated a lot of media coverage throughout newspapers, magazines, radio and television which enables winners to reap the rewards. Due to these benefits, the competition has consistently increased it’s entry levels since conception, and this year was no different witnessing another record amount of pies entered.
The amount of newcomers entering the competition this year was overwhelming, and these first time entrants brought with them a myriad of new and innovative pie fillings and flavours. One new entrant said that he felt like a movie star with the amount of media coverage he received as well as the massive influx of customers coming to his bakery to purchase his award winning pies.
Bakers who compete in the Official Great Aussie Pie Competition say they always receive beneficial advice on how to improve on their products by the professional judging panel who analyse their products.
The principal objectives for the Competition are to provide a national platform for quality pie improvement, while providing a vehicle to gain maximum media exposure for pies and pie makers in their battle for a share of the fast food dollar.
The 2015 competition will be held at Fine Food Australia @ Sydney Olympic Park from the 20th to the 23rd SEPTEMBER.
Official Media Publication for the Official Great Aussie


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Supermarket giantThe Kroger Co., Cincinnati, said it promotedMichael J. Donnellyto senior vice president of merchandising. Donnelly previously was president of the company's Ralphs Grocery Company division, based in Los Angeles, since August 2007.
In his new position, Donnelly will lead all Kroger merchandising and procurement activities, officials said
Kroger said Donnelly began his grocery career in 1978 with Fry's of California. In 1989, he moved to Arizona as a district manager for Fry's and later became vice president of merchandising. Donnelly then led the Fry's division as president from 2000 until 2002 when he was appointed group vice president for drug/GM at Kroger's general office in Cincinnati. He returned to Fry's in 2003 and remained there as president of the Arizona-based division until he was appointed president of Ralphs in 2007.
"We are very pleased to have Mike join our team as our senior vice president of merchandising. He is well respected within our company and the industry for his merchandising excellence," said Rodney McMullen, Kroger president and chief operating officer. "Mike's extensive industry experience will help Kroger continue to build and strengthen our partnerships with suppliers and vendors that are so important to Kroger's success.".
Kroger says it operates 2,449 supermarkets and multi-department stores in 31 states under two dozen local banner names including Kroger, City Market, Dillons, Jay C, Food 4 Less, Fred Meyer, Fry's, King Soopers, QFC, Ralphs and Smith's. The company also operates 785 convenience stores, 359 fine jewelry stores, 1,035 supermarket fuel centers and 40 food processing plants in the United States.


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Teens who regularly visit stores that display point-of-sale ads for tobacco products were twice as likely to try smoking — a finding researchers said argues for a complete ban on such advertising.
HealthDay News reported July 19 that researchers who surveyed 2,110 teens ages 11-14 found that — contrary to industry claims — point-of-sale ads are highly effective in motivating teens to smoke. Such ads represent 90 percent of all tobacco-industry spending on advertising.
Study author Lisa Henricksen of Stanford University Medical School said that regulating retail marketing is essential for further progress in bringing down teen smoking rates.
The study will be published in the August 2010 issue of the journal Pediatrics.


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Huzzah, we have a fresh look at Game of Thrones sixth season. Here are the 13 moments that stand out from the newest trailer, and what they reveal about the new season. Spoilery discussion ahead. See more >>
We’re just a couple months out from the launch of Game of Thrones season six, and finally we’re starting to get some glimpses of the fates that will befall our beloved characters. Some new photos released by HBO reveal who’s alive, who’s dead — and who’s changed. Spoilers are coming >>
HBO, Sony and Showtime are asking US internet service providers to treat them as "managed" services. In other words, they want dedicated bandwidth for their video content, reports The Wall Street Journal.


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LA QUINTA, Calif. (CBS.MW) - Microsoft's chief financial officer sought to manage expectations at a Goldman Sachs investment conference Monday, implying that current long-term growth assumptions were aggressive.
CFO John Connors tone was "cautious," but consistent with the company's practice of making cautious comments following completion of the December quarter, Goldman analyst Rick Sherlund told clients. Connors spoke at the broker's tech investing conference in La Quinta, Calif.
The software giant's stock
Sherlund noted that Connors's primary concern centered on the company's need to sustain longer-term growth from its Office products. If high revenue growth were to come from its low margin consumer businesses rather than from its high margin Office offerings, margin and earnings growth would be dampened.
Connors did not express a view on expectations of 15 percent long-term growth for the company, Sherlund said, but implied that it may be "aggressive." He added that management appeared to want to talk this down going forward.
"It is unclear why the CFO seems to be more focused on the risks than the upside, but this was of some controversy among investors at the conference," Sherlund said.
"It would appear they want to keep the fiscal (June) 2003 estimates down, particularly if management chooses to increase investments in research and development and support in fiscal 2003," he said.
Among some of the positives discussed by Connors was the upside to platforms revenue from the potential improvement in PC demand, the ongoing shift to higher-end versions of Windows and a shift of systems builders that pay higher royalties.
Separately, Connors said the company will announce a Web services consortia to "move Microsoft and the industry forward." He added that Microsoft plans to launch its Visual Studio.net development software Feb. 13.


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AHMEDABAD: Almost every footloose Gujarati fond of travel would relate with the challenge of holding a bursting bladder for want of a clean loo
Why, most even consciously severely cut down drinking water before embarking on a journey to avoid using filthy loos that threaten to guarantee an infection!
A startup based in Ahmedabad and incubated at Centre for Innovation Incubation and Entrepreneurship (CIIE) of IIM-Ahmedabad found a business opportunity in this problem and has come up with unisex disposable urine bags
that would help many ease themselves without the bother of spilling, literally.
The biodegradable bag is lined with special gel that instantly solidifies urine turning it into odour-free non-liquid which can be stored and disposed at one's convenience.
Siddhant Tawarawala, 26-year old founder and CEO of Wide Need Pvt Ltd says the idea triggered from a personally embarrassing experiences desperately looking for a loo. “I have been travelling extensively since the age of 15 and I experienced the issue of non-available toilets firsthand on several occasions. During my MBA at Nirma University, I decided to turn this problem into an opportunity and focused on design thinking. The first prototype took shape after several modifications."
It took three years from 2015 for developing the idea into a commercial product. The big push came when it got funding by the Government of India for up-scaling for addressing a social problem.
The project got recognized by American Embassy supported Nexus programme and Venture Studio at Ahmedabad University. After the working prototype, CIIE at IIM Ahmedabad (IIM-A) supported it to reach to the market.
“Apart from travellers, it can also be used by the persons with disabilities and those recovering from injuries. Last week, we have launched the product and have also made it available on an online shopping platform,” said Tawarawala.
Susmita Ghosh, senior manager (ecosystem) at CIIE, said that social entrepreneurship is a powerful tool to address critical challenges of the society. “In the recent times, CIIE has extended solid support to entrepreneurs focused on creating innovative and sustainable solutions. We are proud of their progress and potential,” she said.


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- Winners and losers from earnings season
- Sears Holdings borrows $400m from Lampert
- Hub Group receives award from Sears Holdings
- Sears CFO describes decision points
- Sears under investigation over Lampert loan
- Kristin Coleman named general counsel at Sears Holdings
- Arun Arora to lead Sears Home Services business
Sears Holdings is looking for other retail outlets to sell its Kenmore-branded appliances, the Wall Street Journal reported. According to a LinkedIn job posting, Sears is searching for a chief marketing officer for its appliance line who will promote appliance purchases through “external groups” such as Costco.
Costco recently struck a deal with Sears to carry a selection of its Craftsman brand tools, which are also available at Ace Hardware stores.
A Sears spokesman confirmed the job posting, describing it as a way “to identify new, emerging ways to reach current and future target audiences.” He added that there is no exact timeline for when Sears might “go external” with the Kenmore line.


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Friends of the RN Submarine Museum – Christmas Cards
Share on social media:
For Christmas 2023 the Friends of the RN Submarine Museum have a new card by artist Si Ellis to mark the AUKUS deal which will shape much of the RN Submarine Service’s efforts and activity for many years to come. They also have some of Tim Hall’s Submariner Memorial card from last year and Georgina Bown’s HMS Christmas card from the year before. These too can be ordered in packs of 10. All the artists have donated their designs.


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A quartet of Aylesbury businesses clubbed together to give a new look to a garden at Aylesbury’s Whiteleaf Centre.
Staff from Tesco, Homebase, B&Q and B&M volunteered their time, and the businesses provided items which would help keep the garden looking fresh.
The garden is next to the centre’s Opal Ward so patients will benefit from the new look green space.
Got a story? Email firstname.lastname@example.org


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Starwood Hotels and Resorts Worldwide have revealed further expansion plans in Saudi Arabia with the signing of a new Sheraton in the holy city of Makkah.
Owned by Altayyar Travel Group Holding Company (TDWL: ALTAYYAR AB), Sheraton Makkah Jabal Al Kaaba is scheduled to open by the end of the year. The hotel is located close to the new expansion of the mosque and will provide guests with special access and views of the holy Haram.
Sheraton Makkah Jabal Al Kaaba will feature 414 rooms and branded serviced apartments, all outfitted with the Sheraton brand’s signature amenities and services. The hotel will also offer four dining experiences, as well as ample meeting and events space.
“Makkah has been a particular focus for Starwood growth, with Sheraton being one of three brands to make its entrance into the market in the next year,” said Michael Wale, President, Starwood Hotels and Resorts Europe, Africa and Middle East. “The property will offer pilgrims the Sheraton brand’s renowned world-class service and a comfortable hospitality experience in the holy city,” he added.
“Saudi Arabia remains one of our strongest growth markets in the region and we are on track to more than double our presence in the country in the next three years,” Neil George, Senior Vice President, Acquisitions and Development, Starwood Hotels and Resorts, Africa and Middle East. “With the growth of religious travel into Saudi Arabia, there continues to be a strong demand for hotels within the holy city and Starwood is in an enviable position with a pipeline of more than 3,000 new rooms in addition to 1,200 existing rooms in this market.”
Abdullah Aldawood, CEO of Altayyar Travel Group said: “We believe the location of this hotel together with a strong brand name like Sheraton makes for a winning combination for our first branded hotel in the holy city. We are confident in Starwood’s ability to provide the finest of its globally recognized services under the Sheraton brand to pilgrims.”


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When Starbucks came to Vienna some 15 years ago – opening 21 shops in prime locations – many Viennese braced themselves for the graceless world of American consumerism. They need not have feared
Within a few years, Starbucks was in retreat to the malls and train stations where it is most at home.
Now even the local knockoffs are reverting to type. The Coffeeshop Company – a shameless Starbucks clone run by the Austrian Schärf coffee dynasty – is remodeling its Alser Straße shop back to a more traditional Kaffeehaus, with comfy, ample seating and table service, instead of a hurried counter to grab your oversized paper cup of latte.
That, along with the high-profile closing of Starbucks’ flagship store on Kärntner Straße last year – met with Schadenfreude from most locals – can be taken as further evidence that fast food does not fly in the capital of Gemütlichkeit.
Indeed, the list of American franchises that have failed in Austria is long: Dunkin’ Donuts, Dairy Queen, and Pizza Hut have all tanked; KFC, Burger King, and Subway barely have a beachhead; and McDonald’s, the sole success story, has bent over backward to adapt, and is still eyed with suspicion after 40 years.
Austrians may rarely display overt national pride (except at ski races), but they are fiercely patriotic about their way of life – and having a leisurely, sit-down meal is part of that.
The same goes for coffeehouse culture – an unapologetic sense of leisure that would pass for loitering across the pond: Reading the paper, playing chess, and chatting for hours over a single cup of coffee is practically enshrined as a constitutional right in the country that introduced the beverage to the West.
Perhaps that’s not economical, but it may have more to do with a consistently high quality of life than many of the tangibles considered in the Mercer rankings.


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Retailo, the fastest growing B2B e-commerce platform in the MENAP region, partners with Maersk, a global integrator of container logistics, for warehousing services in Pakistan. Through this regional partnership, Retailo will be able to rely on Maersk for its ever-expanding business needs by getting access to purpose-built warehouses and expand the scale of its business.
Inefficiencies within the retail sector have long since hindered the retailer’s business and profits. Procurement, and supply chain channels within the region are entirely informal and pose significant challenges. Retailo’s unique business model, the systematic logistics, and beautifully uncomplicated technology are revolutionizing the retail industry and to serve the demand, Retailo now uses several vast warehouses in the region already.
Maersk, as a part of its integrated logistics solutions, has been offering its customers with services that cover their entire supply chain needs including landslide transportation, warehousing, customs clearances, ocean shipping, technology and other customised offerings at origin and destination. Expanding its footprint to serve customers better specifically in the warehousing landscape, Maersk is creating dedicated warehouse solutions for Retailo, starting in Karachi. The partnership with Maersk will help Retailo manage their large inventories as per specific requirements.
Retailo co-founder Wahaj Ahmed commented on the exciting developments,“As Retailo’s business and reach grows, the storage, inbound and outbound operations will grow exponentially. With Retailo’s vision of reaching and impacting 10 million retailers across the MENAP region in the future, a strategic partnership with a reliable warehouse services provider, like Maersk, will prove to be a huge contributor in realizing Retailo’s vision effectively.”
Maersk Pakistan’s Managing Director Aruna Hussain commented on the partnership, “At Maersk, our ambition is to connect and simplify our customers’ supply chains. Our partnership with Retailo strengthens our commitment towards this ambition. With our experience in warehousing and distribution business and our strength in the end-to-end logistics sector, we are confident of creating a reliable solution for Retailo and support their expansion vision.”
Retailo will commence operations with Maersk Pakistan from1st April 2021 and the two companies will explore opportunities to grow and expand in other geographies across MENAP.


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Sometimes a Whopper is the only thing that’ll set the soul straight. But for those among us who don’t eat meat, there’s been a sore lack of soul-straightening going on. That sorry state of affairs is about to change in the near future however, as Burger King Israel, together with the Israeli food-tech company Meat.The End, is launching “Veggie Kings,” a plant-based product category which will initially be sold exclusively in Israel.
The meat alternative company has developed both a plant-based Whopper and nuggets for the burger chain, which will be sold in Burger King branches at the same price as the meat products they substitute.
To celebrate the launch of its meat-alternative category, Burger King will open a vegan pop-up branch at Dizengoff Center in Tel Aviv until October 30, and starting November 19 the new meals will be available in the rest of the chain’s restaurants.
Burger King’s move to incorporate plant-based options into its menu highlights a trend wherein investors and consumers alike have generated much discourse around the negative environmental impact of the meat industry, leading many businesses to seek new ways to provide potential clientele with more climate-friendly options.
A large audience is looking for meat alternatives
“The launch of the plant-based category at Burger King Israel is a strategic move since, in our opinion, a large audience is looking for meat alternatives – not only vegans but also those who [wish to] reduce meat consumption, and this is a fascinating and developing trend on a global scale,” said Keren Kupermintz, VP marketing, trade and business development at Delek Israel.
“The launch of the plant-based category at Burger King Israel is a strategic move since, in our opinion, a large audience is looking for meat alternatives — not only vegans but also those who reduce [wish to] meat consumption, and this is a fascinating and developing trend on a global scale.”Keren Kupermintz
“The product development process took about two years, including finding the ideal partner for the journey and a long series of fundamental, in-depth, and extensive market research [activities] and tests, per the international standards of the global brand,” Kupermintz said.
That “ideal partner” was found to be Meat.The End; a young meat alternative start-up founded in 2020 by its CEO Dr. Yishai Mishor. “Within a year, we developed meat alternatives that beat the world’s biggest competitors in taste tests. Today we are proud to launch them in the first collaboration between an Israeli start-up and an international food giant,” he said.
“Burger King’s move is a brave one and it deserves much appreciation. Businesses that allow their customers a tasty substitute for meat benefit twice – both in sales and by helping to save the planet. This is the key to dealing with the climate crisis,” Mishor said. “I have no doubt that we are at the threshold of a revolution in the food industry that is defined by the transition to alternative protein, as we change to sustainable food consumption.”


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Press Release Distribution
Nicaragua Press Releases+ XML/RSS
503 views, By PRONicaragua
Nicaragua recently participated in the Capacity Development for Export and Investment training conducted by the Japan International Cooperation Agency (JICA), held in Japan from Feb. 17 to March 15.
506 views, By PRONicaragua
The National Free Zones Commission recently published the figures for the free zones regime employment stating that in 2013 the companies operating under the regime generated approximately 109,310 jobs in the country.
679 views, By PRONicaragua
Nicaragua’s safety has led to major progress in the country. Last year was a year of growth for the country’s investment, registering US$1,045 million in terms of FDI inflows to the third quarter of 2013.
371 views, By PRONicaragua
Nicaragua participated in the 2014 Prospectors and Developers Association of Canada (PDAC) Convention, the world’s leading mining event, with a delegation that showcased the country’s mining sector development and investment opportunities.
507 views, By PRONicaragua
In the 2013 Global Gender Gap Report by the World Economic Forum, published in October 2013, Nicaragua was ranked 10th out of 136 countries and 1st in all of the Americas.
561 views, By PRONicaragua
In 2014, the tourism industry is expected to grow by 6.5 percent over last year, which will generate US$440 million to the country.
690 views, By PRONicaragua
Nicaragua is ready for the 2014 Prospectors and Developers Association of Canada (PDAC) Convention, the world’s leading mining event, during which a Nicaraguan delegation will be attending to showcase the country’s successful development and...
510 views, By PRONicaragua
Nicaragua’s northwest region has been recently highlighted due to its important geothermal energy production.
338 views, By PRONicaragua
Nicaragua is currently implementing a pilot project focused on strengthening the English and labor skills of the Nicaraguan young human talent to ease their access to high-quality employment in the Business Process Outsourcing (BPO) industry.
467 views, By PRONicaragua
The American Cultural Center in Nicaragua (CCNN, for its acronym in Spanish), a non-profit Nicaraguan institution whose mission is to promote cultural exchange between Nicaraguan and North American people, was inaugurated on Feb. 10, 2014.
455 views, By PRONicaragua
PeopleWalking, a Spanish computer services company, has officially established in Nicaragua since early this year.
531 views, By PRONicaragua
The Investment Consulting Group S.A., through the Development Company of Nicaragua, invested over US$5 million in two of the largest projects of Estelí, Nicaragua
576 views, By PRONicaragua
Nicaragua’s mining sector will be increasing 10 percent in 2014 by producing approximately 325,000 troy ounces of gold.
545 views, By PRONicaragua
Nicaragua expects to reach US$2,500 million in traditional exports and a similar amount in the textile industry based on an increased investment and increased production in the free zones in 2014.
1147 views, By PRONicaragua
Nicaragua’s textile sector could break a record in 2014 by registering US$1,600 million in exports, informed Dean García, President of the Nicaraguan Association of the Textile and Apparel Industry (ANITEC, for its acronym in Spanish).
524 views, By PRONicaragua
The port of San Juan del Sur, located in Nicaragua’s pacific coast, will soon offer a new and improved infrastructure to tourists.
594 views, By PRONicaragua
Nicaragua generated 51 percent of its energy matrix from renewable resources in 2013.
724 views, By PRONicaragua
Nicaragua’s economy grew between 4.5 and 5 percent in 2013, according to projections of the Central Bank of Nicaragua.
821 views, By PRONicaragua
Nicaragua will participate in the 2014 Prospectors & Developers Association of Canada (PDAC) Convention, the world’s leading mining event.
903 views, By PRONicaragua
In the 2014 Tholons Top 100 Outsourcing Destinations ranking recently published, Nicaragua’s capital city Managua climbed eight spots to occupy the 87th position.
521 views, By PRONicaragua
In the 2013 Preliminary Overview of the Economies of Latin America and the Caribbean, recently published by the ECLAC, Nicaragua figures among the countries with highest economic growth for 2013, in terms of its gross domestic product.
1082 views, By PRONicaragua
The 2013-2014 Doing Business in Nicaragua guide was presented on December 10th by PRONicaragua, along with the Ministry of Development, Industry and Trade and the American Chamber of Commerce of Nicaragua.
659 views, By PRONicaragua
Nicaragua recently received a Taiwanese businessmen delegation that visited the country December 5th-6th in search of business and trade opportunities between the two countries.
444 views, By PRONicaragua
Nicaraguan chocolate bars win gold and silver at the 2013 World Final of the International Chocolate Awards that took place last October at the first London Salon du Chocolat.
600 views, By PRONicaragua
Nicaragua presented its business opportunities in the “Investment and Trade Opportunities in Nicaragua” forum that took place on November 22nd in Hamburg.
456 views, By PRONicaragua
Nicaragua improved its overall rank in the recently released Legatum Prosperity Index, climbing eighteen places from its last year score to occupy the 73rd position among 142 countries.
1125 views, By PRONicaragua
In the recently published Citizen Security Report by the UNDP, Nicaragua features as the second safest country in Latin America.
651 views, By PRONicaragua
Nicaragua inaugurated the first annual Central American Nearshore Summit (CANS) today with the participation of over 110 businessmen mainly from the U.S. and the Central American region.
631 views, By PRONicaragua
The 2013 Climatescope was recently launched in Central America during the conference “Clean Energy Investment Opportunities in Central America” held in Managua, Nicaragua.
570 views, By PRONicaragua
Over 45 prestigious outsourcing companies have already confirmed their participation in the first annual Central American Nearshore Summit (CANS) 2013 to take place in less than two weeks.
820 views, By PRONicaragua
Apparel manufacturing giant Grupo Karim’s acquired Cone Denim Mills Nicaragua in a US$35 million deal and will start operations on November 1st.
957 views, By PRONicaragua
The Central American launch of the 2013 Climatescope Report will take place this October 29th in Managua, Nicaragua, during a conference on Clean Energy Investment Opportunities in Central America.
448 views, By PRONicaragua
The Index of Industrial Production of Nicaragua grew by 5.2 percent during the second trimester of 2013, a significant growth rate compared to the 0.7 percent reached during the same period in 2012.
689 views, By PRONicaragua
The upcoming Central American Nearshore Summit 2013 will be focused on promoting the region as an outsourcing destination and will include a series of presentations from international experts.
407 views, By PRONicaragua
The EXPOAPEN conference exceeded the US$37 million that were projected for this year’s purchase intention, besides having included new products for the exports market, such as processed foods.
581 views, By PRONicaragua
About 1,200 small and medium size enterprises (SMEs) dedicated to footwear manufacture in Nicaragua expect to end the year with 2 million shoes produced, 200,000 more than in 2012, which would account for an 11 percent increase.
531 views, By PRONicaragua
Nicaragua’s bamboo industry was recently highlighted by the BBC as it emphasized that the country’s boom has already begun as new plantations have started to rise in the country.
549 views, By PRONicaragua
Peter Vesterbacka, CMO of Rovio Entertainment Oy and creator of Angry Birds, has become part of the elite group of speakers at the first Central American Nearshore Summit (CANS) 2013.
620 views, By PRONicaragua
Przemek Gajdeczka, Chief of the International Monetary Fund (IMF) mission for Nicaragua, valued as positive the results of the fiscal and monetary policies implemented in the country during the past few years.
891 views, By SeaDream Resort
Playa Coco, Nicaragua – Sea Dream Resort is excited to announce the release of a vacation share-structure based on ownership and rental revenue for its 12 contemporary designed suites set to line the shores of Playa Coco; 20 minutes from the popular...
719 views, By PRONicaragua
PRONicaragua, the official investment and export promotion agency of Nicaragua, will be visiting Mexico City on September 23rd through the 26th.
806 views, By PRONicaragua
Nicaragua’s tourism board (INTUR, for its acronym in Spanish) recently informed that over 607 thousand tourists have visited the country during the first semester of 2013.
384 views, By PRONicaragua
The President of Nicaragua recently held a meeting with various Nicaraguan businessmen and the Superior Council of the Private Sectorwith the objective of institutionalizing an alliance and agreement model between the public and the private sector.
635 views, By PRONicaragua
Nicaragua climbed 16 positions in the Global Competitiveness Report 2013-2014, published by the World Economic Forum (WEF) in comparison to its previous report in 2011.
554 views, By PRONicaragua
During the 2008-2012 period, the country’s free zones exports reached an accumulated US$8,411 million, with a 17 percent compound annual growth rate during the period.
620 views, By PRONicaragua
International Labor Organization’s (ILO) Better Work program recently held a forum for international brand buyers with presence in Nicaragua that are interested in strengthening their commitments with free zone companies in the country.
703 views, By PRONicaragua
The Economic Commission for Latin America (ECLAC) recently forecasted that Nicaragua’s economy will grow by 5 percent this year, an increase well above Latin America’s average growth of 3 percent.
361 views, By PRONicaragua
Hundreds of exporters of food products from Central America, Mexico, Colombia, and the Dominican Republic met with more than 50 international buyers at LAC Flavors, a business roundtable.
998 views, By PRONicaragua
In less than three years, Dräexlmaier, a German auto wire harness company established in Nicaragua has multiplied its personnel by 30 and is now preparing to double its industrial space.
637 views, By Widness & Wiggins PR
North Americans are discovering Nicaragua as a rich and vibrant travel destination but what they don’t yet know is that summer months can be the most enjoyable time of the year here.
Page updated every 10 minutes


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T-Mobile and Sprint agree on $146bn deal
After a long journey, it seems like T-Mobile and Sprint will finally merge after agreeing on a deal last week. The two companies (representing the third and fourth biggest mobile carriers in the USA) have clinched a deal. It is not their first attempt to merge, but it seems to be the most promising one so far. Including debt, the new company (led by T-Mobile Chief Executive John Legere) will be valued at $146bn. Together, the two companies will have 127 million customers in the US. The main goal of this merge is to be more competitive with respect to the two biggest US telecom companies AT&T and Verizon, which have dominated the US telecom industry for years.
However, this deal faces heavy regulatory hurdles. In 2014, this same deal was dismissed, and there is a high chance that it will face the same result again. Different to what was expected, antitrust authorities under the Trump administration have continuously expressed opposition to major mergers, specifically concerning the telecom business, mainly due to fears of losing competitive markets. However, this time there are many arguments in favour of the Sprint and T-Mobile merger.
In order to realise this deal, John Legere must now present the advantages and disadvantages of the deal to the authorities. The telecom industry has faced many difficulties during recent years - due to customers’ increasing use of mobile data that costs less, while decreasing the use of original telecom services. Because of this, the major telecoms companies have experienced significant decreases in revenue.
In a Bloomberg interview, Legere claimed that in case of a deal, the company would invest $40bn in the new 5G technology, which is expected to be launched next year. 5G is probably the most important development within the telecom industry. This is not because customers are asking for faster internet connectivity to surf the net on their smartphones, but mainly because 5G has a very far reaching impact on future innovations and trends. This is due to the fact that products are becoming increasingly dependent on high speed internet connections.
One of the more important future developments is in the electric vehicle industry. With Tesla forging ahead and setting the example of producing electric cars, most leading car manufacturers have decided to shift their focuses towards electric vehicles as well. Companies like Daimler and Volkswagen are set to introduce electric versions of their product lines as soon as 2022.
But how is this important for the telecom industry? The point is that most of these vehicles depend on an internet connection, since their navigation systems use online maps. A fast internet connection is also needed for other services (i.e. music streaming). Furthermore, we can see a development towards autonomous vehicles. Those vehicles are dependent on very detailed 3D maps, which are also used via an internet connection. It is of vital importance that those maps can be downloaded at a high speed, otherwise significant risks may emerge.
In addition, consumers are extending the use of their mobile phones for different functions. Nowadays, a phone is not only used to make calls - it has developed into an entertainment device. Smartphone manufactures keep increasing screen sizes to enable better streaming and gaming possibilities. More people use their smartphone as their streaming device in order to watch their Netflix or Amazon Prime shows on the go. To be able to stream high quality shows, it is necessary to have a good internet connection.
The increased use of ultra-fast networks can also be seen in other sectors. Those include maintenance, factory automation, workforce training and field support. Nowadays, most of the companies tend to avoid using paper, and keep most of their data online. This is more efficient and also less cost intensive. Maintenance companies, Lufthansa Technik for example, can keep track of the current statuses of their airplanes online. In this case, engineers are able to use their portable laptops or tablets to directly upload their reports.
Furthermore, as teaching expands to on online platforms, it increases the dependence of students, teachers and schools on fast networks as well. Teaching materials can be available online, which, once again, is more effective and less cost intensive. All of those developments combined, highlight the need for an investment in the 5G network space.
Therefore, this will be the main argument for T-Mobile in order to convince the authorities to allow this to happen. Even though a $40bn seems to be a significantly large investment, a Deloitte analysis suggests that an investment of $130bn to $150bn in the 5G networks in the US alone will be needed to meet the needs of different industries.
In addition to this argument for the need of a large 5G network investment, the merger may bring other opportunities. According to the T-Mobile CEO the merge will also create a significant number of new jobs.
On the other hand, the main problem is whether the American telecom industry will still be competitive after this merger. Addressing this topic of competition, Legere stated that in his opinion, the telecom business has more than just four major players, as the industry also extends to different telecom start-ups.
Without any doubt, an investment in the 5G network is needed. However, it is very likely that the competitiveness of the US telecom market would suffer heavily from this merger. What will be the outcome of this deal? Only time will tell.
WRITTEN BY SIMON CONSTANTIN SCHOENHERR FOR BESA
PLEASE DIRECT ANY INQUIRY TO AS.BESA @UNIBOCCONI.IT