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SEOUL (Reuters) - Only a handful of reporters were at Samsung’s booth at the Consumer Electronics Show in Las Vegas earlier this month when Jay Y. Lee dropped by.
They had been tipped that the sheltered heir to the Samsung business empire was about to make his first public appearance since his father named him one of the new presidents of the conglomerate’s flagship, Samsung Electronics, in December.
Most of the Korean media contingent eagerly awaiting his appearance at the show had been diverted to another news conference. They didn’t miss much. Jay Lee’s remarks were brief and bland. He mainly wanted to make it clear his ambition was to be a chip off the old (and equally aloof) block.
“I’m trying very hard to learn his challenging attitude and personalize it,” said Jay Lee, 42, the only son of Samsung Group Chairman Lee Kun-hee. “The chairman has this DNA that just won’t let him be seen being beaten,” said the boyish-looking Lee, wearing rimless spectacles and a business suit with an open collar.
His father’s formula has helped turn Samsung into a top global brand over the past decade or so, boasting a market value of $143 billion, bigger than Intel and Hewlett Packard and equal to the combined value of Sony Corp, Nokia, Toshiba and Panasonic Corp.
Yet that’s still less than half of Apple’s $320 billion market value.
Samsung, which has had better net earnings than any other global tech firm except Microsoft and IBM over the past decade, is set to report its lowest profit in six quarters when it issues December quarter corporate results on Friday, although 2010 will be another record profit year.
The outlook for this year and beyond is unclear as global technology firms grapple with weak demand and falling prices for memory chips and flat screens, and new players enter the market for smartphones and tablets.
Successful business leaders are very good storytellers, it is often said, and the industry is looking for a new narrative from Samsung, as it passes the generational torch while trying to evolve into a more innovative and content-driven company.
Jay Lee, who graduated from the Seoul National University with a degree in East Asian history, has an MBA from Japan’s Keio University and studied for a doctorate at Harvard, is deferring to his elders for now. But eventually Samsung will be his story to tell.
He is taking over at a pivotal point for Samsung Electronics, the world’s biggest maker of flat screens and memory chips, the second-biggest mobile phone maker behind Nokia and a core holding in any emerging market portfolio.
His company faces the challenge of moving beyond being a hardware company, clever at copying ideas, to becoming more creative, better adept at software, at a time when consumer gadgets are getting smarter all the time. In short, it faces a management challenge.
In a statement to Reuters, Samsung Group said its strong performance during the aftermath of the global financial crisis has proved the value of its management model.
“Samsung’s management is based on a complementary relationship between the founding family and professional managers. On the one hand, Chairman Lee Kun-hee provides long-term business visions and the basis for sustainability. On the other, professional managers bring to bear their day-to-day management skills without being unduly pressured by short-term and quarterly results.”
Samsung had the biggest booth, the thinnest products, and by some accounts, the best buzz at the annual Las Vegas show. But the stars of this Las Vegas extravaganza, which drew a record 140,000 technology enthusiasts, were the tablet computers. More than 30 tablets were announced over the two-day show, and while Samsung’s Galaxy Tab was one of the precious few actually in stores, all the new players pointed to Apple’s iPad as the one to chase.
To catch up, Samsung has vowed to inject some Silicon Valley culture into the ranks of its salarymen.
“Does Samsung want to be Apple? Probably not,” says Lee Seung-woo, an analyst at Shinyoung Securities in Seoul. “I think they’ll continue to pursue their strategy of being the fast executioner. They’ll be the first you’ll see in the market with a copycat product when there’s a new opportunity, like a tablet market. Being an innovator and creating a new market requires lots of risk and I don’t think Samsung is ready yet to take that level of risk.”
And yet big business is fraught with risk in South Korea, where the public seems to have a love/hate relationship with the family conglomerates, or chaebol, that have long dominated the economy.
Lee Kun-hee’s visit to Samsung’s new headquarters in Seoul on December 1 was his first since he reinstated himself as chairman last March, and two weeks after elevating his son to a president’s position.
He had stepped down after receiving a three-year suspended jail sentence for tax evasion and breach of trust in 2008. South Korean President Lee Myung-bak later pardoned him, saying he was too important to the nation to be behind bars.
What’s good for Samsung is good for South Korea, Kun-hee might well argue. His conglomerate after all accounts for around 20 percent of the country’s exports and a big chunk of its GDP. Yet he is constantly exhorting his employees to act as if the company was on the verge of extinction, warning them Samsung products could all be obsolete in 10 years if they don’t keep up with the times. “Change everything but your wife and children,” he is fond of saying.
The elder Lee had come to Samsung Group’s new headquarters — three office towers housing 10,000 employees in Seoul — to bestow year-end promotions and awards, including to Galaxy S smartphone designer, Lee Sung-sik.
Sung-sik, in fact, epitomized the qualities Samsung has long been known for — a “fast executioner” who gets something quickly to market. Samsung sold 10 million Galaxy S units in just six months after a June launch, tripling its share of the smartphone market to almost 10 percent, though still trailing Nokia, Apple and RIM’s Blackberry.
But Sung-sik’s story also illustrates Samsung’s essential challenge — it only developed the Galaxy after Apple took the market by storm with its latest iPhone early last year.
“Thanks to iPhone, we’ve been to hell,” said a senior executive at Samsung who did not want to be identified because he is not authorized to speak to the media. “We had more than 1 trillion won of (telecoms) profit in the first quarter (of 2010), but saw it halved the following quarter simply because we didn’t have attractive smartphone lineups. We couldn’t give anything to our distributors when they were asking for models to stop iPhone.”
Samsung’s TV business has unveiled a new business slogan,” Samsung creates and others follow” but it’s the other way around for other products. The Galaxy S is an imitation iPhone that runs on Google’s Android operating system. And the Galaxy Tab is basically just a bigger version of its smartphone.
Samsung has yet to come up with the kind of original, iconic, market-leading products that powered rival brands such as Apple’s i-series or Sony’s Walkman. Nor has it taken the kind of initiatives in software that Google and Apple did to thwart Microsoft.
“If they want to pursue an innovation strategy then they can master the connected home as they already are in almost every household,” said Francisco Jeronimo of market intelligence firm IDC. “They need to create services that connect and explore the different products. That’s what Apple is trying to do with a service like Apple TV.”
Samsung Group plans to spend 12.1 trillion won ($10.7 billion) this year on research and development, up from 10.6 trillion won last year and 8.8 trillion the year before.
The new investment is targeted at achieving global market dominance of Samsung’s m major businesses, the group said in its 2011 investment plan. Samsung will hire 25,000 new workers this year, also a record.
What is not clear is how much of that will be spent on reshaping the business to add more content, on its TVs for instance, in a market where flat screens will all be offering the same features and only the cheapest producers will win in a race to the bottom.
In its statement to Reuters, Samsung said the latest fruit of its investment in research and innovation is its leadership in LED TVs and 3D TVs, products that created a new market even during the 2008-2009 global recession and brought about a paradigm shift.
Samsung’s history is filled with such shifts.
Jay Lee’s grandfather Lee Byung-chull started Samsung or “Three Stars” in 1938 as a small trading company in Daegu city in the southeast of the country, dealing in groceries and making noodles. He expanded into insurance, securities, print media and retail as South Korea slowly rebuilt after World War II and the Japanese occupation.
Byung-chull set up Samsung Electronics in 1969, producing black and white TVs that he supposedly learned how to make by tearing apart a Sony. But it was his third son, Lee Kun-hee, who suggested Samsung acquire a Korean semiconductor firm. Though viewed as a huge risk in a market dominated by Japanese companies, the operation grew to become the worlds top memory chip-making business.
Samsung started its rise as a global brand after Byung-chull’s death in 1987 when Kun-hee took the reins of the chaebol. Fond of sports cars, he made his only notable business failure with Samsung Motor. It was eventually sold to Renault during the Asian financial crisis at a significant loss.
The rapid expansion of Samsung and other chaebol was greatly aided by the country’s dictators between 1960 and 1992, who directed banks to give them easy credit, regardless of the viability of their projects, and provided an enabling regulatory environment. They looked for businessmen who could deliver signature projects in record time. What mattered then was whom a businessman knew.
The chaebols borrowed so much in this cozy environment that eight of them collapsed in the Asian financial crisis and the rest were left wobbling. The “IMF crisis” that ushered in sweeping economic reforms, coupled with a more democratic system, has largely dismantled this old nexus. But as recent cases show, the creative book-keeping and payola scandals of yesteryear remain a problem.
Samsung Group shrugged off its car debacle and emerged otherwise unscathed after the Asian financial crisis. It consolidated around Samsung Electronics, which by 2005 had overtaken Sony as the world’s most popular consumer electronics brand.
Now it will be the mission of the third star of the family, Jay Lee, to lead the next stage of Samsung’s evolution in the fiercely competitive and ever-shifting consumer electronics industry as it battles declining margins on its core products.
Samsung’s shares have risen a stunning 33 percent over the past three months to record highs, despite last quarter’s profit decline, with investors heartened by Kun-hee’s moves toward a generational shift in leadership and betting the change may spur growth.
By some measures, its shares are undervalued. According to an analysis by Thomson Reuters StarMine using a quantitative model, Samsung shares have an intrinsic value of 1.2 million won, well above the 999,000 won it was trading at on Wednesday.
A seamless shift in the company’s leadership is certainly important to foreign investors who own half the shares of the company, and who might expect that the old Korean adage about the average lifespan of family fortunes — “shirtsleeves to shirtsleeves in three generations” — will not apply in the case of this family conglomerate.
Jay Lee’s promotion as one of a dozen new presidents at Samsung Electronics came only a year after he was named to the newly created position of Chief Operating Officer. His 69-year-old father has said repeatedly Samsung needs young and nimble talent to deal with fast-changing markets. This has been unsettling in South Korea’s Confucian corporate culture, where seniority is revered.
In last month’s shakeup, the average age of Samsung’s presidents was lowered by 2.1 years. In the following days, a rash of hair-dye jobs swept the offices at the new headquarters in Seoul, and hardly a grey head could be seen, said one executive who asked to be unidentified because he is not authorized to talk to the media.
With the latest promotions and his mantra about perpetual crisis, Kun-hee is clearly trying to prepare his younger corporate warriors, including his son, for the coming battles over smart products.
Despite questions around its culture of innovation, analysts believe Samsung is one of the best placed companies to deliver something fresh and exciting to rival Apple, particularly its ability to provide in-home convergence offerings with internet TVs, smartphones and tablets.
“But to capture the imagination of the public in the way the iPhone or iPad have done, Samsung will need to take risks and produce something unique that has a true Wow! factor and be first to market,” said Tim Shepherd, an analyst at Canalys, a technology-focused research house.
Samsung does want to be seen as an innovator, but it’s primary strategy thus far in the mobile device markets is to focus on the speedy delivery of competitive products.
Samsung uses Google’s Android operating system across a range of devices, including its smartphone, and was the earliest to ship it on a tablet. But soon many others will also have Android-driven phones and tablets on the market. Differentiation will be a challenge.
“It has been difficult for companies to build differentiation in software on PCs outside of Apple,” said Ross Rubin, an analyst at market research house NPD. “Samsung needs to send a stronger message around where it sees Android versus its own operating systems like Bada.”
Bada, which means ocean in Korean, is at the heart of Samsung’s drive to develop new revenue sources from its own Samsung App store and create synergies with its TV and tablets’ business. Samsung’s Bada operating system (OS) is also aimed at sharply boosting its market share in the booming smartphone market and compete with Apple, Google’s Android and Nokia’s Symbian platform.
Achieving this ambition won’t exactly be “bada bing, bada boom” (the slang term popularized on The Sopranos TV series for something that happens effortlessly).
Bada’s only edge right now, according to tech analysts, is that it improves networking and gaming on other platforms, a kind of helper OS.
Bada’s open-source platform mainly supports Samsung’s low- to mid-end smartphones. But Samsung is using the Android-powered Galaxy lineup to challenge Apple.
Bada, analysts say, faces an uphill battle competing as an independent platform against the likes of Apple and Android.
“It will be easy for Samsung to transform its TVs, fridges and appliance businesses, but phones require really hard work,” said Robert Jakobsen, senior analyst at Denmark-based Jyske Bank, and the only one among dozens of analysts that follow Samsung Electronics with a sell rating on the company.
“Samsung’s success so far in the smartphone market is based on Android, but that’s an (operating system) that everybody can copy and is copying They need to innovate and add value. If they cant, price is the only feature left, which could mean lower margins.”
Samsung does want to break out of the high-sales, low-margin business model and emulating Apple with its 40-percent margin on iPhone sales or Microsoft’s 70 percent-profit margin from Windows.
“What we dream of is creating great content, and that will lead to more sales of our devices and downloads of our applications,” said Lee Hoo-soo, executive vice president and head of Samsung’s mobile software development. “We want to see more of this virtuous circle.
Samsung is pinning some of those hopes on the Galaxy S, which hit 10 million units of sales in January. Samsung expects smartphone sales will more than double this year to at least 50 million handsets as it rolls out its Galaxy lineup.
The company is also putting its money where its ambitions lie with those eye-popping investment plans. It is targeting 50 trillion won ($43.33 billion) in sales in 2020 from new growth businesses, including healthcare and renewable energy.
Samsung Electronics aims to rank among the global top 10 companies in 2020 with $400 billion in revenue, Samsung Group Vice Chairman Choi Gee-sung has said.
As part of Samsungs 10-year plan to develop next-generation growth engines, Samsung Electronics recently purchased a stake in diagnostic ultrasound maker Medison and acquired display technology firm Liquavista, the statement to Reuters said.
For the past year as COO, Jay Lee has been overseeing Samsung’s eight operating divisions, working with a dozen presidents who report to his mentor and the CEO, Choi Gee-sung, who turns 60 next week and whose pitch-black hair looks every bit as dark as Jay Lee’s.
Jay Lee’s fast rise to president, after just one year as COO, has raised eyebrows about his readiness to take the reins of Asia’s most valuable company.
In the statement to Reuters, Samsung stressed he will continue in a supporting role to the CEO. “While his position has been elevated from executive vice president, he will focus largely on coordination of Samsung Electronics’ diverse business and providing a leadership role in the company’s investments.”
Jay Lee makes it clear he’s not wearing the mantle of authority just yet. “Chairman will continue to be in charge and I still have lots of things to learn and feel enormous responsibility already,” the media-shy Lee told a local newspaper in brief remarks after he was stopped on his way out of the office.
Neither Jay Lee nor his father were made available for this report.
Jay Lee’s one foray into a new venture was not fortuitous. He ran Samsung’s Internet business during the dot com boom in 2000 and the firm chalked up some 20 billion won in losses before the company was folded.
Those who have met him say the divorced father of two is a personable, even charismatic individual. At the Las Vegas show, he spent most of his time in the Samsung hospitality suite wooing major customers.
Promoting Jay Lee is one thing. Positioning him to control ownership within Samsung’s labyrinthine chaebol structure — and wield power over a company with 174,000 staff in 66 countries — is quite another.
The elder Lee’s conviction three years ago stemmed from allegations by civic groups and the company’s estranged chief lawyer that he had managed a political slush fund, and had helped his son buy shares of Samsung Group subsidiaries at unfairly low prices in a scheme to hand over control of the conglomerate to him.
Prosecutors were unable to prove either of those charges. But after that whole controversy, Kun-hee is likely to take a more subtle approach to restructuring Samsung as he transfers ownership to his three children, the third generation of the Three Stars company.
The restructuring will begin with companies where Jay Lee is the top shareholder, analysts say. He owns 25 percent of unlisted amusement park operator Everland, which is at the crux of a spiderweb of crossholdings among companies in the Samsung chaebol. Some companies will be listed, others will be merged to simplify the structure.
Samsung Group has also elevated Kun-hee’s daughter, Lee Boo-jin, as president of Hotel Shilla and Everland.
The strength of the chaebol has always been their ability to make these kinds of decisions — act quickly and move money around when the company is in trouble without fussing with a board or shareholders.
But the conglomerates have long been criticized for their enormous economic power, hierarchical and sometimes opaque governance, and dubious wealth transfers among family members.
“The fact that Samsung depends heavily on Chairman Lee is a poisoned chalice,” said Kim Sun-woong, head of shareholder activist group Center for Good Corporate Governance.
“Group companies can’t make their own independent decision and they have to follow what the chairman says. If you think about Samsung without Lee, it is difficult to imagine that its management, which has become so used to the influence of Lee, will be able to run Samsung independently and efficiently.
Back in Las Vegas, Jay Lee strolled over to the booths of his Japanese rivals after chatting with the Korean reporters. He was especially interested in the 3D televisions that can be viewed without those goofy glasses. Samsung doesn’t offer one, at least yet.
He then donned some stereoscopic spectacles and sat down to watch Panasonic’s 3D, along with Choi, the Samsung vice chairman, and the TV chief, B.K. Yoon. They can only hope he will see Samsung’s future in such dimension and high definition.
(Additional reporting by Jungyoun Park and Hyunjoo Jin in Seoul and Tarmo Virki in Helsinki)
Editing by Bill Tarrant


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NEW YORK, N.Y. – Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq stock market:
Boeing Co., down $11.43 to $116.58
The aerospace and defence giant’s 2016 outlook fell short of Wall Street estimates.
Textron Inc., down $5.04 to $32.69
The maker of Cessna planes and Bell helicopters reported disappointing fourth-quarter results.
Tupperware Brands Corp., down $7.51 to $43.97
The company’s fourth-quarter profit and sales fell far short of estimates.
Total System Services Inc., down $6.78 to $39.22
The electronic payment services provider reported a smaller-than-expected profit and gave a weak forecast.
Hess Corp., up $2.04 to $36.85
The oil and gas producer said it will cut more costs, slashing exploration and production further.
Apple Inc., down $6.57 to $93.42
The tech titan said growth in iPhone sales slowed down and forecast its first decrease in quarterly revenue since 2003.
Biogen Inc., up $13.39 to $273.26
The biotech drugmaker’s fourth-quarter earnings were stronger than expected as sales of Tecfidera improved.
Expedia Inc., down $5.40 to $99.53
The travel site operator fell after Goldman Sachs downgraded its rating on the stock and said investors’ hopes for growth and profitability may be too high.

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In this guest post, Zenith’s digital director Ali Bremner (main photo) isn’t lamenting the end of the cookie, rather, he says, it’s an exciting time for new and industry-changing solutions…
Now that we’ve been given an extra two years to prepare for the cookie apocalypse, it’s important that as an industry we don’t squander the great work and achievements we have already made, and that we continue to put forward game-changing solutions.
While there has been widespread concern over the death of the cookie, I see it more as an exciting turning point for our industry to really lift strategic thinking in our digital marketing approach.
Although cookies have enabled us to deliver effective, short-term solutions to marketing needs, what this has made us overlook as an industry – and what I fear will continue with the introduction of new identify solutions designed to replace the cookie – is the power of brand and creativity in delivering on longer-term marketing objectives.
As the industry grapples with other developments in a privacy-focused world, such as the removal of ad-tracking within Apple iOS and now Google Android, we need to use this as an opportunity.
The opportunity that I see here is for smarter thinking when it comes to audiences and to re-establish the power of strategy. We can do this in the way we use digital media to solve future business challenges and create more long-term value.
We need to look at the bigger picture within digital and move away from focusing too heavily on topline digital results. Cookies, and the data that came with them, only provided so much intel and value to an advertiser in their communications with audiences.
The impending death of the cookie has been the much-needed spark for digital to start understanding its shortfalls, and the importance behind owning and operating 1st party audience data, rather than relying on a one-size-fits-all data solution with off-the-shelf products.
But is this all easier said than done? There is a potential snag to the 1st party data solution, which is the fact that people are very prone to opting out of advertising when given the choice. The main reason behind this is that there is no real value exchange for the user, so why would they hand over their information? This can be seen in the high opt out rates that we have seen following Apple’s iOS 14.5 update, with some estimates citing opt out rates of up to 85%.
However, if an advertiser or a data provider can hit the sweet spot with incentivising an audience to share their information through an effective value exchange, they will certainly reap the rewards. The ultimate prize out of 1st party data is being able to own and segment an audience based on the business needs.
Nestle and McDonald’s are two examples of brands which have been effective in directly communicating to consumers and creating that value exchange.
To make the Christmas gift giving more unique, Nestle gave shoppers the opportunity to personalise their Milo tin directly on the brand’s website. Not only did this experience generate cut-through at a competitive time of the year, but the value exchange increased consumers’ willingness to share 1st party data and maintain a relationship with the brand beyond the holidays.
In McDonald’s case, it used the Maccas app to send consumers product offers tailored to them as rewards, as well as the chance to win prizes after purchasing products when they were logged into their Monopoly app.
These are fantastic examples of long-term marketing strategies that saw each brand forge a deeper connection with their consumers by creating a richer and more interactive content experience which they constantly refreshed – ultimately enabling them to capture high-quality 1st party data.
It’s unfortunate that we have become incredibly technology led within digital, with long-term strategic approaches being left on the back burner in favour of quick acting, short-term results.
In order to comprehensively measure success without the over-reliance of 3rd party identifiers like cookies, we need to focus on econometrics, market mix modelling, and long-term brand health considerations. These are much more important to an advertiser and will become increasingly so as time goes on.
Twitter has just experienced its fastest growth in revenue since 2014, with the social media platform benefiting from increased interest from advertisers. Revenue was up 74 per cent YoY, according to the company’s Q2 results, reaching $US1.19 billion ($1.6 billion) from $US683.4 million ($925 million) 12 months ago. The strong results came in the same […]
Wild Turkey has announced the launch of its new global creative campaign and platform, ‘Trust Your Spirit’, featuring the brand’s creative director and spokesperson, Matthew McConaughey. The global campaign and platform ‘Trust Your Spirit’ is to encourage people to be bold, unapologetically themselves, and stay true to who they are. The global tagline and ethos […]
Telecommunications company Optus has announced it will launch the world’s first TikTok sign-language activated filter. Featuring Optus ambassador Ian Thorpe, Optus will unveil a branded effect that shows TikTok users how to say key phrases in Auslan sign language, including ‘How are you?’ and ‘It starts with Yes’, through the hashtag challenge #SignYes. Optus will […]
Podsights has revealed new insights into the effectiveness of advertising in podcasts, tracking global and Australian podcast advertising trends. This is the first Australian report to be published since ARN partnered with Podsights to set the standard for best-in-class podcast advertising measurement. The report includes additional analysis and follows a series of Measurement Masterclasses held for […]
NGEN’s 2021 charity cup has raised over $175,000 for UnLtd charity partner Gotcha4Life. Gotcha4Life is a not-for-profit foundation raising awareness and funding to provide educational workshops and innovative programs that build mental fitness in individuals and communities. While Sydney and Brisbane completed the Charity Cup in June, before Covid restrictions hit, the final leg in […]
Australian tech incubator Cicada Innovations and Biennale of Sydney are launching the ‘New & Sustainable Materials Challenge,’ in an effort to create a more sustainable future. The works of chosen material-makers will be showcased to millions of Biennale audiences, exhibition partners, and exhibition makers globally. The Challenge is open to any Australian and UK startups, […]


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COVID-19 is wreaking havoc in economies worldwide. We explore how Thailand, a country that relies on FDI inflows for a number of megaprojects, will cope
The ongoing COVID-19 pandemic is causing chaos for countries worldwide, impacting public health systems, lifestyles and economies. Inevitably, this level of unpredictability has consequences for global trade and cross-border transactions.
How bad is it?
What is Thailand doing?


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The European Exit Environment
2018 has been a truly remarkable and a record-breaking year for outsized outcomes in the European tech industry, capped by Spotify's giant $25 billion direct listing
Top 10 largest VC-backed exits by value at exit in 2018, IPO & M&A
Top 10 largest VC-backed M&A exits by value at exit in 2018
Building on top of several large European tech IPOs, Europe has also seen significant exit value via M&A in 2018. Multibillion acquisitions, such as iZettle's $2 billion+ sale to PayPal, have helped to drive the total value of M&A of VC-backed European tech companies to $31 billion in the first nine months of 2018.
European M&A exit value ($B) and count by company type (VC-backed or not)
VC-backed exit value
Non-VC-backed exit value
M&A exit value based on total enterprise value of all tracked transactions
Strong activity in M&A of VC-backed European tech companies has been underpinned by a record number of acquisitions with an enterprise value of more than $500 million at exit, as well as record numbers of acquisitions of European VC-backed companies acquired for between $250 million and $500 million.
VC-backed M&A exit count by deal size
Contrary to the popular but false narrative that European tech companies exit primarily to US-based buyers, the share of M&A transactions of European tech companies that involved European acquirers exceeded more than 50% of all M&A transactions in 2018, as it has done in each of the past four years.
Share of M&A exits by buyer region by year
USA and Canada
Other (incl. unknown buyer counry)
Only VC-backed deals included. 2018 numbers estimated by Dealroom.co.
Non-tech corporate investment and M&A activity has increased from year to year
Investments and M&A activity of non-tech corporates involving European tech companies
Europe's traditional companies continue to look at M&A as a strategy to accelerate their response to the digitization of their core industries and in several cases took material bets of more than $500 million. The largest single acquisition in 2018 involved Richemont's completion of the 100% acquisition of digital commerce company, Yoox Net-a-Porter, for an implied enterprise value of more than $5 billion.
Largest acquisitions of European tech companies by European non-tech companies in 2018, by EV
Chinese companies have become active, though infrequent, acquirers in the European tech ecosystem as they increasingly seek to expand overseas and build their international footprints. Alibaba's acquisition of a majority stake in Istanbul's Trendyol for $750 million was the most significant M&A transaction in 2018 involving a European tech company and a Chinese acquirer.
Selected acquisitions of European tech companies by Chinese acquirers


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Sugared + Bronzed is primed for expansion.
The sunless tanning and sugaring hair removal studio, which currently operates 23 locations, is on track to open 10 to 12 new outposts in 2024 and 10 to 15 in 2025.
Sugared + Bronzed is one such example of service studios that are quickly expanding, as customers are willing to spend on beauty and wellness experiences even in the face of economic downtown, according to experts. Fast facial bar Glowbar, which closed a $10 million series A in 2023, was on track to close the year with 10 locations and double that number in 2024. Social wellness spots, like Othership, Bathhouse and Remedy Place, are quickly growing as well with new outposts in New York City and beyond.
Sugared + Bronzed opened in 2010 with its original Santa Monica, Calif., location. According to founder and president Courtney Claghorn, this location is a testament of the business’ continued progress as the Santa Monica studio alone experienced 20 percent year-over-year growth in 2023. Now, it operates in several key markets, including New York and Texas. Main Post Partners invested in the business in 2019, as reported by WWD, though the amount was not disclosed.
According to Claghorn, the team plans to sign 12 leases a year for the foreseeable future, adding one new market and several adjacent markets each time.
“We’re targeting what we call a ‘flagplant’ new market, a market that’s really far from anywhere else that we are opening that’s not necessarily driving distance and then one adjacent market,” she said.
For example, San Diego is likely an upcoming adjacent market, as the brand operates in Orange County and Los Angeles. As far as the new “flagplant” location this year, Claghorn is focused on Miami. Locations for 2025 have not been determined, though the team is eyeing Atlanta, D.C. and Chicago.
Similar to other service studios like Glowbar and Ever/Body, Sugared + Bronzed has experienced particular success in Manhattan and Brooklyn with sales increasing 31 percent year-over-year in the market alone. Three new Manhattan locations are set to open by March, as well.
“We’ll keep opening there. In every neighborhood that you could probably think of that isn’t too too close to another neighborhood, we’ll be there at some point,” Claghorn said.
As for what’s driving the brand’s growth, aside from the ever-growing interest in beauty and wellness services, Claghorn points to referrals.
“There’s definitely something about people coming in and telling their friends,” she said. “That has been there from Day One back in 2010. That has just remained a constant in terms of growth.”
There’s a few factors likely leading to these ongoing referrals, according to Claghorn. Better-for-you beauty has been a key driver for the business, as Sugared + Bronzed offers all-natural sugaring hair removal and sunless tanning. Customers are increasingly interested in sun protection, leading to the success of SPF and sunless tanning products.
The sugaring paste itself is also a key differentiator.
“We use something called a liquid invert technique, and it allows us to, even though the ingredients of Sugar Paste are just sugar, lemon and water, it allows us to take the sugar and separate it into glucose and fructose,” Claghorn said, adding it allows for a more consistent and less painful experience.
Although the innovative paste and current beauty trends lend themselves to the overall experience that guests are recommending to their friends, it’s the service providers that drive the business, according to Claghorn. In an effort to differentiate their providers, Sugared + Bronzed requires extensive training for both sugaring and tanning, where trainees work on an average of 50 people before going full-time.
“We have to get consistent feedback from all of those people that they work on,” Claghorn said. “They could have 15 really great pieces of feedback towards the end of their training, and then if we get anything that was like, ‘Hey, that was more painful than usual’ [then] we go back a phase.”
The experience is especially important, as tanning and hair removal are often services guests do on a monthly basis. With this in mind, Sugared + Bronzed offers memberships, which 50 percent of its customers take advantage of. Memberships grew 50 percent year-over-year in 2023, as well.
While brick-and-mortar growth is top of mind, Sugared + Bronzed also has its own line of products, which Claghorn plans to expand. E-commerce has also been key in tracking where they should open outposts next. The product line includes Sunless Tanning Water, $24; Sunless Tanning Lotion, $26; Exfoliating Scrub, $24, and Sheer Sunscreen, $22. The brand’s Sugar Paste, $45, is also available, though this is primarily marketed toward independent providers. In terms of expansion, future products will address prep and post-care for sunless tanning and hair removal.
“We have a few products on Amazon, and that’s our only third-party retailer,” Claghorn said. “[We’re] looking into potentially more third-party retailers as we expand that portion of the business.”


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COVID-19 wreaks havoc on Southwest Florida restaurants as they shift to takeout, delivery
With COVID-19 regulations constantly changing, Fort Myers and Naples restaurants are struggling to adapt as they pivot to takeout and delivery models.
Gregg and Krista Buell stood in front of Skinny Dogz Brunchery in Gateway late Wednesday morning. Every time the phone rang, every time a car cruised through the parking lot, they jumped.
"You think that's a customer?" Krista said to no one in particular as a beige Ford sedan turned into the driveway.
"I think it is."
She watched it curve around the corner and settle into a spot near the lake.
"I'll get some menus."
Gregg hurried into the kitchen as their 10-year-old son, Bryce, and 8-year-old daughter, Mia, chalked rainbow stripes on the sidewalk. Krista handed the man in the beige car a paper takeout menu, allowing him time to peruse it. She pushed her rubber gloves tighter on her hands, then headed to the shade of the front patio to watch — and wait.
"He can order from his car, we'll bring it to his car, we'll take payment from his car," Krista said. "We can do it all without people having to even come outside."
If they wanted to be outside, Skinny Dogz offered a few tables on its lake-front deck. Its inside dining area was closed. For diners who called ahead, Krista and her server asked for the color and model of their vehicles, so they could get orders out more seamlessly.
The restaurant had been open since 8 a.m. It had only seen a handful of customers.
Welcome to the new world of dining.
As confirmed cases of novel coronavirus continue to grow exponentially, so has the fear and uncertainty of local restaurateurs. On Tuesday, Gov. Ron DeSantis asked Florida restaurants to slash their seating capacities by half. He shut down bars, night clubs and breweries to prevent crowds and to boost social distancing, one of the few actions known to prevent the spread of COVID-19.
The measures are slamming one of the state's top economic drivers: restaurants. Florida restaurants netted an estimated $50.1 billion in sales in 2018 according to the National Restaurant Association. Restaurant and food-service jobs number more than 1.1 million statewide, accounting for 12% of employment.
Area restaurants seem to be taking the state's latest mandates in stride as they balance a smorgasbord of unknowns:
How long will this last?
Will they have to close permanently?
Will their employees be OK?
Are they making the outbreak worse merely by being open?
"We thought about all of that and more," said Lore Bolla, who owns Trattoria Mia in south Fort Myers with her sister, Claudia Bolla.
"We shut down the dining room (Tuesday). It was tough but to be honest, it’s just for the safety of our staff and customers. Eighty percent of our customers are older people, and we are concerned for them more than anything."
Monday night, Bolla said she had eight tables and a handful of takeout orders. She saw brisk takeout business Tuesday night, but said it was nowhere near what a Tuesday in March should be, when the restaurant should be packed and there should be a line out the door.
Bolla said her staff of 12, which is usually all-hands-on-deck this time of year, has been trimmed to a skeleton crew of four the past few nights. She's had to cut her entire front-of-house team. She balances their duties while also helping the two cooks her sister/chef rotates in and out of Trattoria Mia's kitchen, and the needs of the two trusted dishwashers they're trying to keep employed.
And they're doing it all for even thinner profit margins.
The city of Fort Myers has created designated restaurant pickup zones and is relaxing parking enforcement around downtown restaurants in hopes of helping "businesses and customers adapt to changing conditions," a press release sent Wednesday evening said.
In the age of coronavirus, takeout food is the new black.
But it's not nearly as profitable as traditional dining. The add-ons that flow freely when a customers is sitting down — bottles of wine, sodas, an extra salad, espresso or dessert — tend to disappear when a diner is compiling a takeout order.
"They have wine at home," Bolla said. "They're not thinking about coffee."
Restaurants that don't specialize in takeout have an especially hard time pivoting their concepts to it. Sit-down restaurants tend to have more overhead, in the form of larger staffs and higher rents due to greater seating capacities.
Successful takeout restaurants tend to be smaller with little or no seating. They rely on quick turnover and a steady stream of customers, something very few local restaurants have been reporting in recent days.
Third-party delivery services can further eat away at an independent restaurant's profits. While companies such as UberEats and Grubhub have committed to a temporary suspension of fees for local restaurants, Bite Squad and DoorDash, both of which are prominent locally, have been quiet on the topic.
Such fees can be as high as 30%, according to the Los Angeles Times, meaning on a $12 delivery order, a restaurant could only be pocketing about $9.
For the state's many craft breweries, the situation is even more dire. Breweries without onsite kitchens are considered bars and have been forced to shutter their taprooms per state mandates.
Momentum Brewhouse in Bonita Springs and Millennial Brewing in downtown Fort Myers are adapting by hosting onsite food trucks, in hopes the lure of food will be enough to get customers to buy a take-away six pack, some merchandise or a growler fill.
At Fort Myers Brewing Co. in Gateway, owner Jen Gratz-Whyte stood in an empty taproom with blue Xs taped 6 feet apart on the floor. In theory, customers would line up on those Xs for to-go cans and Crowlers. At just past noon Wednesday, such lines hadn't yet materialized.
"It's crazy," Gratz-Whyte said, her hands stuffed into the pockets of a Fort Myers Brewing Co. hoodie.
"There were no lessons for this, no kind of training. We're all just trying our best to figure it out."
Area bar and restaurant owners seem to understand the current situation is only a taste of things to come. New York City's restaurants were mandated to be takeout-only as of Monday night. Tuesday, counties around San Francisco ordered their residents to shelter in place, limiting excursions to only what's been deemed essential — groceries and to-go food, pharmacies, doctor visits, banks.
Local restaurateurs know it is going to get worse before it gets better.
"Our family in Italy, they're calling us and telling us how it started just like this for them, with no one paying attention and then everything falling apart," Lore Bolla said in between takeout orders at Trattoria Mia.
Her family lives in Asti in Northern Italy, the epicenter of the country's outbreak. Bolla said her relatives are in good health and relatively good spirits.
"They're telling us: Be safe, stay home. It started just like this for them; 200 or 300 cases, the government telling people to be cautious, but people not listening.
"And now it’s complete chaos they are living in."
Congress, federal and state agencies have pledged to develop coronavirus aid packages for small businesses and restaurants, with possible direct payments coming to unemployed servers and cooks. Such forms of relief feel distant and mirage-like, though, as local restaurateurs and brewery owners struggle to stay afloat day-to-day.
"We can't count on that," Gregg Buell said. "We can't count on much right now."
Back at Skinny Dogz, the man in the beige sedan declined to place an order, instead holding on to the paper takeout menu and promising to bring his wife and daughter back for a late lunch on the patio.
Krista hopped inside to answer the phone. Gregg stood in a black apron and T-shirt, hands at his hips as his two kids splashed their chalk art in water and watched it melt in colorful streaks that dribbled into the quiet parking lot.
"I think everything's going to shut down," Gregg said.
"I think the government will have to close almost everything at some point. Then the question is, how long can we make it? A month? Maybe two? How long can our employees make it?
"And the thing is, absolutely nobody knows."
Got questions about COVID-19 and its effect on Southwest Florida restaurants and diners? Email firstname.lastname@example.org or connect with our reporter as @abellewrites on Instagram.


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Alf. Mizzi & Sons Marketing (AMSM) Group announced that Alec A. Mizzi is stepping down from his role as CEO to move onto the position of Executive Chairman.
Mr Mizzi’s new position will see him continue to be involved with the company at a strategic level whilst allowing him to increase his focus on his other role as Alf. Mizzi & Sons Group Chairman and CEO.
The outgoing CEO had spent around 40 years at the helm of the AMSM Group – the distribution organization of fast-moving consumer goods to the grocery and food service sectors.
“I consider it important that I move on, as part of our rejuvenation process,” Mr Mizzi said.
“I’m proud of what we have achieved over the past four decades, taking us into the pre-eminent role of leading distributors in the FMCG sector, by a long shot, with an incredible range of brands and now with a presence in Cyprus too,” he continued.
Mr Mizzi’s position will now be taken up by Steve Apap Bologna.
The new CEO had joined AMSM Group as Sales and Brand Manager back in 1992, was promoted to Senior Sales Manager in 2001, and became Chief Officer in 2006.
“I am honoured to have been appointed CEO and Board Director,” Mr Apap Bologna commented. “I will strive to retain the same high standards of professionalism, business ethics, and ambition. It will be business as usual,” he concluded.
Sayed Mohamed Mohamed Noor Sharaf has resigned from the two positions with immediate effect.
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Gina Brocker of University of Wales, Newport, was named as the Grand Prize Winner at Nikon’s prestigious photographic Discovery Awards, held at Olympia, London.
Nikon UK is pleased to introduce its new top-of-the-range premium D-SLR - the D3X. Building on the reliability, handling and durability of the award-winning D3, the D3X offers an imaging sensor with over twice the resolution of the revolutionary D3, breaking new ground in image quality.
Nikon is delighted to have picked up two DIWA gold awards for its Nikon D60 and Nikon D300 cameras; an accolade that underpins Nikon’s leadership position in this area and recognises the company’s continued pursuit of excellence.
Nikon UK is pleased to announce a new cashback promotion offering customers up to £50 back on purchases of Nikon D60 digital SLR camera kits.
Nikon UK has teamed up with Intrepid Travel for the launch of the Ultimate Guide to Travel Photography published by Footprints publishing, a new book that will change the way you travel.
Nikon UK is pleased to announce a new promotion in time for Christmas: you can now get Capture NX2 software free when you buy a new Nikon D700.
Nikon UK completes the picture this Christmas with a new promotion that offers customers up to £50 off a digital photo frame when purchased together with a Nikon COOLPIX camera.
Nikon UK is pleased to announce its COOLPIX TV advertisement is set to return to our screens in the run up to Christmas after a successful summer campaign.


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Jaguar unveiled its all-electric race car for the Formula E
Jaguar officially unveiled its all-electric ‘I-TYPE’, a car that will compete in the Formula E championship. The model was designed in partnership with battery maker Panasonic. Best known in the EV industry for being Tesla’s battery cells supplier, Panasonic announced that it teamed up with Jaguar in the all-electric racing championship to create the “Panasonic Jaguar Racing” team.
The vehicle will make its debut during the season 3 of the Formula E, starting on October 9, 2016 in Hong Kong.
The new ‘I-TYPE’ marks the upcoming electric vehicle technology that Jaguar is set to launch in 2017. The company plans to enter the electric vehicles market with an electric SUV and other prototypes that are still under construction.
Read the entire article here.


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Edge has launched a creative-led brand campaign for oil and lubricant brand Nulon designed to disrupt the motor oils category.
The Nulon brand strategy was developed with Edge’s partner agency Retail Oasis in early 2016. Edge then brought the strategy to fruition in the form of the Born This Way brand awareness campaign.
The campaign appeals to DIY car enthusiasts by celebrating the love that car modifiers (‘modifinkers’) have for their vehicles. It zeroes in on the compulsion they feel towards tinkering with their cars and their efforts to attain, often-elusive, perfection. Parallels are drawn between the car modifiers and Nulon itself, both of which share a goal of maximum performance.
The Nulon campaign will commence with an initial eight-week blast of activity early in June 2016 and will continue into 2017. One two-minute hero film, a 30-second film cut-down and three 15-second – Burnout versions will be broadcast across Facebook, Instagram, Twitter, YouTube and third party publisher websites.
Edge senior art director Chris Stewart said of the campaign: “Born This Way is a massive departure from the forms of communication we are used to seeing in this category. It’s raw, relatable and unapologetic. We want to show authentic, real and relatable stories rather than a CGI horse jumping out of the bonnet of a Ferrari. We want people to know this is Nulon and no other.”
Edge managing partner and head of strategy Richard Parker said: “The campaign we’ve put together for Nulon combines creative ambition with an innovative digital and in-store strategy that will drive not only brand awareness amongst this elusive target audience, but deliver measurable ROI in the form of sales. We’ve enjoyed working with Nulon, an independent Aussie business that has displayed serious bravery to embrace this form of brand storytelling rather than the usual category approach.”
Nulon general manager, product and marketing, John Simons said: “This campaign represents a radical change in marketing strategy for Nulon. We’ve zeroed in on the audience that really matters to us, and we’re creating content that resonates with them emotionally – using digital channels to get it in front of them exactly when and where it will have the biggest effect.”
The campaign will continue into 2017 and beyond.
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Comscore has today announced the expansion of its TV measurement footprint to Australia, driven by its partnership with Samba TV, the leading global provider of omniscreen advertising data and audience analytics. The new connected TV (CTV) measurement solution, launched last year in select European markets, has now reached this key market in the Asia-Pacific (APAC) […]


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With tech monopolies challenging the traditional set-up, the desire for instant gratification, as well as the huge cultural shift induced by COVID-19, it has never been harder to achieve long-term brand equity in retail. Phrasee wanted to create something that would be valuable to help navigate through the coming weeks and so have collated some thoughts and insights from Julio Lopez at Movable Ink, April Mullen from SparkPost, and themselves.
This post was originally featured on the Phrasee blog.
Q. The onset of the novel coronavirus has created a dynamic situation and a sense of uncertainty for many businesses. What do you think are the implications for retailers and ecommerce in the short term and long term?
A. We are seeing the short-term results now. Store closures, even if temporary, continue to increase, and supply chain challenges are also forcing ecommerce closures, bringing many companies to a complete standstill. This is going to have the expected financial implications in the short term, but brands that have worked hard to foster brand loyalty will come back strong. In the long run, what we will see is more companies investing in technology that will allow them to react quickly – not just to a massive pandemic – but to anything. That is the lesson retailers will take away from this: the need to be nimble. That’s the reason digital-first D2C brands are changing the retail landscape – they are digital-first and nimble. We’ll see traditional retailers making the investments that will allow them to be more like those digital-first brands.


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As expected, the Reserve Bank board decided to leave the cash rate unchanged at 3 per cent at its April meeting. There were three areas of interest in the associated Statement from the Governor.
Firstly, whether the bank would retain its easing bias; secondly how the bank would assess the surprise jump of 71,000 new jobs in the February jobs report; and finally whether the developments in Cyprus would impact the thinking around global risks.
Despite considerable doubt in the markets the bank’s easing bias was confirmed with the inclusion of the line: “The inflation outlook, as assessed at present would afford scope to ease policy further, should that be necessary to support demand”.
The governor was silent on the issue of the jobs report. In March, he assessed that: “with the labour market softening somewhat and unemployment edging higher conditions are working to contain pressure on labour costs”. The April statement merely noted: “labour costs remain contained”. This suggests that the governor is not prepared to accept that the job report signals an improving market but he is also not prepared to publicly dismiss the number. He appears to have left the issue open until we see further evidence around the labour market.
We assess that at least 50 per cent of the February increase was due to sampling variability with a further boost coming from a sharp estimated increase in the working age population. Of course despite the huge jobs number the unemployment rate remained steady at 5.4 per cent – we retain our view that the unemployment rate is likely to steadily rise through 2013 – a critical factor in the interest rate outlook. The monthly employment report will be key to future interest rate moves.
Over the month the Reserve Bank would have some reason to be encouraged that its rate cuts are working whereas there were other reasons to be disappointed. The December quarter national accounts printed weak overall growth (0.6 per cent) with very soft consumer spending (up only 0.2 per cent) taking much gloss off a boost to housing investment (up 2.1 per cent). Business confidence remains weak whereas the consumer sentiment report for March showed a strong reading with a 2 per cent increase following a 7.7 per cent jump in February. House prices are now up by around 5 per cent from the low in May.
While the national accounts pointed to very soft consumer spending the retail sales report for February is pointing to a substantial lift in tempo in the beginning of 2013. On the release we reported:
"Retail sales rose 1.3 per cent in February with January's already strong 0.9 per cent gain revised up to a 1.2 per cent increase. That was much stronger than the market expectation of a 0.3 per cent rise."
"Sales are up 0.7 per cent over the three months to February versus the flat fourth quarter. Monthly sales are back on a solid 0.4 per cent monthly rising trend (a 4.3 per cent annual pace). The strong back-to-back monthly retail gains suggest the solid rally in consumer sentiment in early 2013 is flowing through to spending. Even with a pull-back in March, nominal sales will likely be up 1.5 per cent quarterly, or more for first quarter versus the 0.1 per cent gain in the fourth. That in turn points to a 1 per cent plus gain for retail volumes.
"Although retail is only 35 per cent of total spending, this clearly represents a material upside risk to our current forecast for consumption which has growth accelerating from 0.2 per cent in the fourth quarter to 0.6 per cent in the first."
Markets have responded surprisingly modestly. Due to some weakness in global markets overnight the adjustment to market pricing has been to merely retrace the price gains from overnight. Markets effectively still have around an 80 per cent probability of a last rate cut by year's end with around 40 per cent by mid year. We are impressed by this boost to the consumer but still remain concerned about the approach of business.
Business confidence is being driven by factors apart from just expected sales. The question is whether businesses – worried by overregulation; political uncertainty; overvalued currency; slowdown in mining and global uncertainties – will still respond to this lift in the consumer and move to expand employment and investment. Without that dynamic the Reserve Bank is unlikely to achieve its objective of boosting growth back to trend in 2014.
Negative signals around employment will also, eventually, unsettle the household sector. Sensibly, the market accepts that it may take time for this question to be settled – we see the logic in that approach and accept that our current forecast for a June rate cut warrants intense scrutiny. That process is underway.
Apart from the dynamics around business other factors that create difficulties for the bank to return growth to trend in 2014 without further policy support were pointed out in the Governor's Statement following the board decision. He noted that “the peak in resource investment is drawing close” and that “the exchange rate, which has risen recently, remains higher than might have been expected”.
On the international front, European decisions to 'bail in' uninsured depositors in Cyprus are likely to unnerve bank depositors right across the troubled south increasing the risks of a flight of savings from the south to the north. That development alone, complemented by evidence of a policy-induced slowdown in China and some 'wobbling' in the US data will keep the international issues to the fore in the bank's thinking.
In short, the retail sales release for February does strengthen the case that more time than we had previously expected will be required to assess risks around growth prospects in 2014. We accept the case for reviewing the timing of our final rate cut. However at this stage we cannot abandon our assessment of the need for further stimulus until we can confidently raise our current forecast of below trend growth of 2.5 per cent in 2014 to a trend figure of 3 to 3.25 per cent or above.
Bill Evans is Westpac's chief economist.


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The Weeknd Is Dropping A Sneaker Collaboration
December 10, 2020 7:57AM EST
The Weeknd is expanding his shoe empire and is dropping another sneaker.
He announced that the forthcoming project would be a collaboration with XO and Bape.
The footwear will be available at various locations, including The Weeknd’s website, beginning December 12.
Which celeb has the best clothing or shoe brand currently out?


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Interpublic FCB has named Susan Credle, one of the advertising industry’s most sought-after creatives, as its new global chief creative officer.
Ms. Credle, who will start at FCB in January, was most recently the chief creative officer of Publicis-owned Leo Burnett USA and is credited with helping turn around the agency. During her tenure, Leo Burnett put out successful campaigns such as AllState’s “Mayhem” and the anti-bullying initiative “Mean Stinks” for Procter & Gamble’s Secret brand. Prior to joining Leo Burnett in 2009, Ms. Credle worked at Omnicomency BBDO for 24 years.
The high-profile hire is a major win for FCB Worldwide Chief Executive Carter Murray, who has been working to revitalize an agency that had been hit with a long list of client losses. Since taking on the role of CEO in late 2013, Mr. Murray has made major changes, including switching the agency’s moniker from draftfcb to FCB. FCB recently won new business assignments with Vonage and Anheuser-Busch InBev.
“The moment we met Susan, we both felt that she would be the perfect creative leader, given our ambition of being a true creative/business partner to our clients to help change consumers’ behavior,” Mr. Murray said in a statement. “Susan is joining a group of talented creative people and her wealth of experience, perspective and leadership style will make us all that much better.”
FCB said it began a search for a successor to its current global chief creative officer Jonathan Harries last year. Mr. Harries will become chairman of FCB.
“I respect legacy brands and that includes agencies,” Ms. Credle said. “In March of 2014, FCB reclaimed its name. It’s a name that has a rich history of creating compelling work that has moved the industry forward. Today, FCB has the ambition and the scale to do this again.”


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Ecotwist Clean founder fulfills goal of product launch with former employer
Check out the excerpt below from our friends at the Matthews-Mint Hill Weekly, who recently did an update on EcoTwist's launch into Harris Teeter grocery stores.
"Little did Sean Stanley know more than 30 years ago while bagging groceries at a Harris Teeter in Charlotte as a high school senior that he would spend the early part of adulthood climbing the career ladder with the grocery chain. Never in his wildest dreams did Stanley think he would launch a company that would have products for sale on the shelves at Harris Teeter and donating a portion of the profits to benefit a friend’s charity.
But that is exactly what has happened."


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It’s a memorable day in Mario Kart history. Mario Kart 8 Deluxe was released on this day, April 28, five years ago in 2017. Since then, the game has gone on to become an absolute juggernaut that only continues to grow.
As of December 31, 2021, Mario Kart 8 Deluxe has sold 43.35 million copies, making it by far the highest-selling Switch game (Animal Crossing: New Horizons follows with 37.62 million sold). Nintendo will announce a new sales number for its biggest games in May with its latest earnings briefing, so Mario Kart 8 Deluxe is only going to grow bigger in terms of its install base.
Mario Kart 8 Deluxe’s sales success is particularly notable because it’s not a “new” game per se. Mario Kart 8 Deluxe is an enhanced version of Mario Kart 8, which originally released for the Wii U in 2014. That game sold 8.46 million copies to become the Wii U’s best-selling game ever. Combined, Mario Kart 8 and Deluxe have sold just under 52 million copies. This includes copies included in bundles, like the popular Nintendo Switch Black Friday bundle.
Continue Reading at GameSpot
Source: Game Spot Mashup


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U.S. airlines have gotten their financial houses in significantly better order after decades of red ink. And some carriers are exploring inexpensive ways to make flying economy class a smidge less arduous even though this new wherewithal certainly won’t mean more legroom or free checked bags.
On some long domestic flights gratis snacks are common again and free meals and booze are returning.
Fees for streaming audio and video are even being dropped by a few airlines. By offering cattle class free access to its full menu of in-flight entertainment, American Airlines Group Inc. just matched its two-largest domestic peers.
As carriers sought to boost profits by adding seats and crunching knees, these modest steps follow years of “densification” at the back of the plane. However ever-increasing opulence was courted to travelers at the front of the plane at the same time. Those free movies may be sufficiently engrossing to make you forget the lack of space or your oversized neighbor while a seat-count reduction for the less fortunate isn’t in the cards.
“Even the smallest thing can seem like a big deal. When you’re an abused animal, even a tiny pat on the head can make you feel like you’re loved,” said Henry Harteveldt, a travel analyst at Atmosphere Research Group in San Francisco.
Including $12 billion reported by the 10 largest U.S. carriers in the first half of this year, the improvements are funded by billions of dollars in profits. According to industry trade group Airlines for America, that’s about $700 million more than in the same period last year.
“For the first time since the Great Recession, airlines are finally achieving profit margins on par with the average U.S. corporation,” said John Heimlich, the group’s chief economist.
After years of charging you for snacks, free meals and alcoholic beverages have been restored by Hawaii, American and Delta Air Lines Inc. on their longest routes this year.
Along with the debut in February of a Dutch snack, stroopwafel—which came with a video the carrier produced to show how to eat it, United Continental Holdings Inc. has touted its new premium Italian coffee, from Illy. A craft beer from Goose Island and a more premium single malt scotch, Glenfarclas, is also being stocked since last month.
Hoping to make the experience slightly nicer and as part of an upgraded dining experience in which the airline has divided economy-class meal service into three courses, United has begun serving an additional mid-flight snack on some European routes.
Free food, booze, and films are not the only efforts that are being undertaken o make customers happy. Fees for purchasing a ticket over the phone or at the airport were ditched by Delta in April. Money on nonrefundable tickets would be refunded if the reason is suitably compelling by American, like some others.
“Airlines are taking a look at not just what drives purchases but what drives complaints,” Harteveldt said.
However all that free stuff may not be free at all in the end. Finding a way to stand out from rivals is another factor in the analysis, Harteveldt said. A unique perk might allow carriers to charge a few additional bucks as they are always keen to command higher fares.
(Adapted from Bloomberg)
Categories: Economy & Finance


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Founder of Tesla Inc. and SpaceX Elon Musk took second place in the list of the richest people in the world, ahead of Microsoft founder Bill Gates. This was reported by the Bloomberg Billionaires Index.
Over the past 12 months, Mask’s fortune has grown by about $ 100 billion, according to Bloomberg estimates. According to the agency, none of the 500 richest people in the world on the list have increased their capital so quickly during this period. In January, Musk ranked 35th in the Bloomberg rankings.
The main reason for the increase in Mask’s wealth was the growth of Tesla’s capitalization. In January this year, it was less than $ 100 billion, and is now estimated at about $ 500 billion.
Tesla was founded by Mask in 2003. Initially, the company specialized in the production of electric vehicles, but later also began to create energy-saving systems.
Tesla CEO Elon Musk wants to turn the Tesla plant near Berlin into the world’s largest factory for the production of batteries for electric vehicles. The businessman stated this on Tuesday, November 24, speaking via video link at the European Conference of Battery Manufacturers. The plant near Berlin will be one of a kind as […]
Shares of US electric car manufacturer Tesla continue to rise sharply amid news of the company’s future accession to the S&P index. On Tuesday, November 24, the market value of Elon Musk’s company crossed the $ 500 billion mark for the first time. Tesla shares are said to have risen nearly 550 percent this year, […]
Tesla Inc. paid its chairman and founder, Elon Musk, $ 3 million in compensation for D&O insurance to defend, settle disputes, or make court decisions. This was reported by Insurance Business. This insurance covers the expenses of the members of the board of directors, which are not included in the general expenses of the top […]
Tesla Inc. of Elon Musk will export Model 3 electric cars made in China to Europe. This was reported by the Interfax-Ukraine news agency with reference to the company’s statement. The first batch of 7,000 cars will be shipped from the port of Shanghai on October 27. They are expected to reach the Belgian port […]
Shares of Tesla rose by 2.73% to $ 425.30 on Wednesday amid overall stock index growth, however, this growth was lower than the growth of shares of competitors such as Ford, General Motors and Chinese automaker NIO, which rose by 3.58%, 4% and 4.3% respectively. Tesla’s current share price of $ 77.19 is below the […]
At the Tesla Battery Day event, its founder Elon Musk announced the plans to build a budget electric car for $ 25,000 using a much cheaper battery. If the plans will be realized, the new car will be the most budgetable in the Tesla line. Nowadays the company’s cheapest model – sedan Model 3 – […]
The American company SpaceX will launch the first Starship spacecraft into Earth orbit, most likely in 2021. It said its founder Elon Musk, speaking at a video conference on the problem of human flight to Mars, according to TASS on Tuesday, September 1. Mask was asked when the first test flight of Starship into orbit […]
The Luxembourg National Data Protection Commission has fined Amazon $ 887 million for violating the processing of users’ personal data. The Commission has decided that the processing of Amazon’s personal data does not comply with EU data protection regulations. Claims are related to showing customers relevant advertising. This is a record fine for such violations […]Next
The National Commission, carrying out state regulation of the financial services market by its order №1467 agreed to increase participation by Allianz Holding eins GMBH (Austria) in ODO «Allianz Ukraine” (Kiev) to 99.999% by direct acquisition of 99.978% from its share capital. As reported, at the beginning of this year, the National Commission, carrying out […]Next
Customers of the Colonial Pipeline pipeline network, which was restarted after the cyber attack, are having trouble. In particular, they may not reserve fuel supplies, update applications or perform other online access activities. This was announced on Tuesday, May 18, citing anonymous sources among shippers, Bloomberg reports. The company itself said in a comment to […]Next
Radisson Hotel Group has plans to more than double its serviced apartments portfolio within the next 5 years across EMEA. Today, serviced apartments represent around 10% of the Group’s EMEA portfolio with 45 properties and more than 5,400 units in operation and under development. Radisson Hotel Group operates its serviced apartments as a stand-alone or […]Next
US President Donald Trump canceled the trade negotiations with China due to pandemic of coronavirus. The American leader has accused China in the spread of the virus in the world. The information was reported by Bloomberg. The trade agreement concluded in the first stage, which came into force in February, ensured a discussion of the […]Next
An emergency situation due to the coronavirus has been declared in Ukraine. Probably a lot of people still do not have a full understanding of what it is and what restrictions have been imposed for the society and business. We asked S&P Investment Risk Management Agency to explain everything in detail. All the details are […]Next
The Swiss government has signed an agreement with the American biotechnology company Moderna, which will provide the country with early access to the coronavirus vaccine. Under the agreement, Switzerland will receive 4.5 million doses of the vaccine. Following this news, Moderna shares on the market on August 7 increased by 1.68% and reached $ 75. […]Next
Radekhivskyi tsukor company, which is the largest producer of this product in Ukraine, has closed a deal to acquire 6 sugar factories previously owned by the company T-Tsukor. We are talking about: Borshchivskyi, Buchatskyi, Zbarazhskyi, Kozovsky, Lanovetskyi and Khorostkovskyi sugar factories, which are located in the Ternopil region. It is reported by the source delo.ua. […]Next
Ukraine can produce an average of about 5.5 billion cubic meters of “green” hydrogen annually. This was announced on Monday, March 29, by the State Agency for Energy Efficiency. Experts of the United Nations Economic Commission for Europe with the support of the Ministry of Energy and the State Agency conducted studies of the potential […]Next
Microsoft Corp. is in talks to buy Nuance Communications Inc., a developer of a speech and text recognition solution, for about $ 16 billion, several U.S. media outlets reported, citing informed sources. According to them, negotiations are at an advanced stage, and the announcement of the agreement may be made in the coming days. Microsoft […]Next
According to financial club, Oschasbank agreed with the credit debt of JSC Avangard-Agro (AG) restructuration. The owner of AG is Oleh Bahmatiuk. It was published in the holding quarterly status report in London exchange. According to documents, the amount of debt will be converted in Ukrainian gryvnia by the rate of 25,65 UAH per 1 […]Next
The Economic court of Vinnytsia region decided to recognise the Rosinka Kiev plant of the Dewdrop soft drinks entity as the bankrupt. The information on preliminary judicial review had been posted on the Court solutions register website with links to the corresponding court orders. The majority of them is a credits payment liability. There is […]Next
The computer system of the American medical company Universal Health Services, which has a membership of over 400 medical institutions, has become the object of attack by hackers that demand the ransom. This was reported by CNBC, citing sources from the company’s employees. According to the TV channel, computers in the various institutions of the […]Next
Recently, foreign automobile corporations are increasingly exposed to multi-million dollar fines from regulators. The reason is negligence of manufacturers who violate the road safety legislation at the stage of cars’ production. Scandals accompanied by multi-million dollar fines recently occurred in companies BMW, Volkswagen, and Fiat Chrysler, which subjected the charges from the regulatory authorities for […]Next
Shares of Snap Inc. rose sharply on Friday, offsetting last week’s decline as investors praised its financial report. Key Snap figures for the 1st quarter of 2021 For the first three quarters of this year, Snap reported a break-even point per share, while analysts’ average estimates were reduced to a 6 percent loss per share. […]Next
A serious scandal, which erupted in the Ternopil region, and subsequently has covered the whole territory of Ukraine, continues to grow. In the night of 2 to 3 July 2016, on the motor company which is owned LLC GLOBAL FID, attacked by a group of armed young people, in an amount of about 50 people, […]Next


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23 Jul Converse & Shiekh Shoes Now Offer Shoe Recycling
Southern California-based retailer Shiekh Shoes has partnered with Converse on a sneaker recycling program that will turn old pairs of Converse kicks into building material for new playgrounds — or at least for the rubber mats and pellets found under jungle gyms.
Customers can now drop off a pair of used sneakers at one of the Shiekh Shoes locations in Compton, Culver City, Lakewood, Carson, Glendale or San Diego — or at one of its three L.A. stores, on Hollywood Boulevard, Pico Boulevard or South Broadway, which opened earlier this year.
For each pair donated, the customer will receive $10 off a new pair of Converse — plus a chance to be touted online. Shiekh Shoes will be photographing some of the sneakers and sharing the images on their social media, along with a shout out to the former owner.
Converse, with help from its parent company Nike Inc., has been recycling sneakers since 2011. As part of the program, the sneakers are shipped off to a facility where the rubber outsole, foam insole and fiber are separated and then ground up to be used for other things.
For instance, in addition to playground surfaces, the rubber has been used for athletic tracks and gym floors. The ground-up foam can serve as cushioning for outdoor basketball and tennis courts. And the repurposed fiber can help create cushioning pads for indoor wood courts.


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Maruti Suzuki has previewed the Baleno RS at the 2016 Auto Expo in February 2016 and now, the company is likely to launch the hatchback in the country in February 2017. Currently, the carmaker is testing the Baleno RS, performance based variant of the regular Baleno, on the Indian roads. It retrieves the total design layout and features from the existing Baleno but, the new one offers with the new engine specifications and additional features.
The biggest advantage with the upcoming hatchback is all-new Boosterjet engine offered in the country. The RS will be powered by the three-cylinder 1.0-litre 111hp Boosterjet turbo petrol engine, which is currently offered in the global-specific Baleno. The gearbox options are not revealed while the model could feature the either 6-speed automatic or 5-speed manual options.
The highly-demandable model features the disc brakes, black painted alloy wheels, minor body kit, Bi-xenon automatic headlamps, LED DRLs, ABS, dual airbags, SmartPlay Infotainment System, navigation support, electrically adjustable folding wing mirrors, rain sensing wipers, as well.
Like the Baleno premium hatchback, the Baleno RS to be sold via the Maruti Suzuki Nexa dealerships. It expected to be priced higher than the existing one and offered in the seven attractive colors. The production capacity of the Baleno has increased at the production plant, even though it has received the waiting period in the domestic market due to the highly demand.
The Baleno RS will rival the existing premium hatchback models like the VW Polo GT TSI and Fiat Punto Abarth. In fact, the model confirmed for the festival season in 2016, but the launch has been postponed as of Vitara Brezza and Baleno demand. The Baleno RS will be definitely launched before the Ignis crossover that is scheduled to launch on January 13, 2017.


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A courier had just left a jewelry store in the Provo Towne Centre Mall and was walking through the parking lot when the suspects pulled up in a minivan.
One of the suspects pulled a knife and demanded jewelry.
After they got the jewelry, the suspects slashed the tires of a car the victim was standing by. Police say they thought that was the victim's car, but it was not.
The suspects were all wearing black hooded sweatshirts with red cloths over their faces. They were driving a 2004-2007 grey Honda Odyssey.
Anyone with information is being asked to call detective Payne at 801-852-7280.


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‘Bikini boycott’ by Norway team a hint to un-sexualise women in sports
If you thought the idea of asking women athletes to dress modestly or ‘cover up’ was sexist enough, think again; it can be the other way round too. Telling them to wear skimpy clothes under the pretext of international dress code can reek of deep-rooted patriarchy too.
In a latest instance, the women’s beach handball team of Norway has been fined 1,500 euros on Monday after players chucked the official dress code of bikini bottoms to wear the more comfy shorts.
The European Handball Federation has called it “a case of improper clothing” that breached the Athlete Uniform Regulations delineated in the IHF Beach Handball Rules of the game and said disciplinary action has been initiated against the team.
The team, however, has received claps from the Norwegian Handball Federation (NHF) which has cheered its women for finally breaking the sexist dress code against which they have been complaining since 2006.
“We at NHF stand behind you and support you. Together we will continue to fight to change the rules for clothing so that players can play in the clothes they are comfortable with,” the federation said in a social media post.
Women athletes, as per International Handball Federation rules, are required to wear bikini bottoms “with a close fit and cut on an upward angle toward the top of the leg”. While the sides of the bottoms for women cannot be longer than four inches, men can wear shorts four inches above the knee.
Pressure to play inconveniently feminine
The lack of parity in dress code between men and women in sporting events including the mighty Olympics has been a burning topic of debate over the past few years.
In 2011, the Badminton World Federation left female players flummoxed and invited heavy public censure, when it issued new guidelines that wanted women players to “ensure attractive presentation” at tournaments, or in short, look feminine enough. The guidelines insisted that women players “wear skirts or dresses” instead of shorts and pants.
The guideline was not only criticised as utterly sexist, but also an inconvenient proposition for players from Muslim countries, who would be required to wear a skirt above their usual long pants if they were to follow it.
“When you dictate apparel for reasons of sexuality, it should be offensive,” Donna Lopiano, a former CEO of Women’s Sports Foundation had told New York Times.
Who will define the length of your skirt?
The irony of the dress codes at these sporting events is the changing definition of femininity from association to association.
So, if the Badminton Federation wanted women players to wear skirts and dresses to exude femininity, the Ladies Professional Golf Association almost resorted to slut-shaming female golfers, even stooping down to measure the length of their skirts in its new guidelines issued in 2018.
The ‘can’t wears’ included ‘plunging necklines’ and ‘leggings’ while players were cautioned not to wear skirts, skorts and shorts which reveal the “bottom area (even if covered by under shorts) at any time, standing or bent over”. Players were told they would be fined $1,000 if they didn’t adhere to the guidelines.
As far as skin show is concerned, women wear much skin-baring clothes than men in sports such as gymnastics, track and field, volleyball and beach volleyball among others. Women gymnasts, for instance, are allowed to only wear leotards (similar to a bodysuit) while their male counterparts have the luxury to layer up with shorts or long leggings over their bodysuits.
Several sports require the women’s outfit to be skintight and not otherwise. As per the trampolining dress code set by the Federation Internationale de Gymnastiques (FIG), women should wear “a leotard or unitard with or without sleeves (must be skintight). Long tights may be worn (must be skintight and be the same colour as the leotard),” and not wear clothes which are not ‘skintight’. The men, however, can wear sleeveless or short sleeves singlet, gym trousers or gym shorts.
A fact sheet on “sexploitation” in sports released by the Australian government in 2012 criticized the stark difference between the uniforms of male and female athletes. “Women’s beach volleyball […] has introduced uniforms intentionally to focus attention on the athletes’ bodies rather than for any technological, practical, or performance-enhancing reasons. Women must compete in bra-style tops and bikini bottoms that must not exceed six centimeters in width at the hip (men compete in shorts and singlets),” the Huffington Post quoted the report as saying.
In a conversation with Bustle, FIG’s vice president Slava Corn, however, refused any gender discrepancy in dressing, adding that the requirement for the dress to be tight is for safety. “Since they move so much we cannot have a piece of material impede their movement or possibly cause an injury.”
In the recent past, several countries haven’t been able to participate in Olympic events due to the absence of ‘modest dress codes’ like scarves by women of Islamic countries. In 2010, the FIFA’s dress code didn’t allow Iranian women to compete in the Youth Olympic Games, due to a ban on headscarves. However, the same was changed in the 2016 FIFA Regulation Handbook later.
Winds of change
However, thanks to protests by players like the Norway women’s team, the sexism in dress code is getting diluted by the day. In a bid to bring inclusivity to the sport and pay respect to cultural beliefs of some participating countries, the International Volleyball Federation in 2012, announced that its female players would no longer be mandated to wear only bikinis and instead and opt for shorts and sleeved tops.
While some players still want to stick to the old ways, it wouldn’t be wrong to say that a less sexualized and more practical dress code would go a long way in helping a sportswoman achieve her desired milestone.


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Ignite are delighted to announce another new member to the group.
Attached is an Economic Update Report written by Roger Martin-Fagg & distributed in association with Sourcing City.
Merchandise World, the UK’s biggest promotional merchandise trade exhibition attracted around 1400 top quality professional distributor buyers to the NAEC in Stoneleigh in January this year – and that was in spite of all the travel problems caused by the snow!
Ignite are delighted to announce a new member to the group – TC Branding Group.
Merchandise World, the UK’s leading and biggest promotional merchandise trade exhibition took place on Wednesday 30th and Thursday 31st Jan 2019 at NAEC Stoneleigh, Warwickshire, CV8 2LG.
Clipper Gifts have closed their Burntwood office, and their customer service is now being handled from their Head office and production facilities in Holland.


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AgencyWieden & Kennedy, Portland
SectorFMCG, Cosmetics / toiletries, Household products and OTC drugs
Procter & Gamble has launched the follow-up to the "best job" spot in its global "thank you, Mum" campaign.
"Kids" has been launched around the world online and will make its TV première during the London 2012 opening ceremony.
The ad was created by Wieden & Kennedy Portland and directed by Daniel Kleinman.


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The awesome future of food where you will always eat exactly what you want
[Via Ezra Klein]
Alex Lightman is a futurist who spends a lot of his time thinking about what new food technology will mean for the way people eat. And he believes that one of the surest things about the future of 3D printed food is that it won’t work the way people imagine it will.
“People think that things are going to be automated and scaled, but that’s not true,” he said. “The truth is that people really misunderstand how it’s going to work.”
Lightman serves on the advisory board of Natural Machines, a Barcelona-based company that is getting ready to launch a new 3D printer called Foodini that will allow both amateur home-cooks and Michelin star chefs to manipulate food in ways that weren’t previously possible—at least commercially. The machine, which will be released later this year, can produce almost any shape and process many different inputs (not simply chocolate, like other proof of concepts). Homemade pasta of almost any shape and size, perfectly packed veggie burgers, carefully portioned, identically shaped servings of mashed potatoes—these things will all be easy tasks for the new food toy.
The hallmark of the coming Age is that it will be personal – all aspects of it.
The last Age was about mass production, faceless assembly lines making the same thing for everyone. Now we will move into a period where the tools of production provide different things for everyone.
3D printing of food will not make it easier to produce the same thing for everyone. No one will use it for such. But, the ability to manipulate food stuffs into what ever we want will directly come from 3D-printing of food.
Think of Star Trek. They had wonderful meals at the ship’s lunch room. Think what could be done at home.
The creativity of cooking is about to be enhanced exponentially.
Image: Randen Pederson


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Researchers at ESET have identified 42 apps from the Google Play Store containing harmful adware, something that can drain your battery life, data and can even gather personal information.
Lukas Stefanko, a malware researcher for ESET, said in a blog post each of 42 apps have since been removed from the Play Store, however they not only amassed a combined eight million downloads during their period of availability, but they also remain available on some third-party app stores.
Stefanko named 21 of the apps in question and detailed the package names of the other 21 in a blog post.
They were named to be: Smart Gallery, SaveInsta, Mini lite for Facebook, Free Radio FM Online, Free Video Downloader, Free social video downloader, File Downloader, Water Drink Reminder, Smart Notes for You, DU Recorder, Tank classic, Heroes Jump, Solucionario, Ringtone Maker, Video downloader, Ringtone Maker Pro, Basketball Perfect Shot, HikeTop+, MP4 video downloader, Flat Music Player, Free Top Video Downloader.
If you’re worried about having any of unnamed 21 apps installed, you can check to see if any are on your phone using services like AppBrain that can identify a programme based on its package name.
In a nutshell, each of the apps described by ESET were said to work as noted in their listing, but also contained adware, too.
According to Stefanko, some of the apps in question are capable of knowing if they’re being tested by security mechanisms or not. After the device has been unlocked they were said to be capable of displaying full-screen ads on a user device.
Worryingly, a number of the programmes in question were said to be capable of disguising themselves. In particular, they were noted to be capable of impersonating apps like Facebook or Google when a user attempts to find out what’s responsible for the adware.
Describing the app’s worrying tactics, Stefanko said: “If the user wants to check which app is responsible for the ad being displayed, by hitting the ‘Recent apps’ button, another trick is used: the app displays a Facebook or Google icon.
“The adware mimics these two apps to look legitimate and avoid suspicion – and thus stay on the affected device for as long as possible.”
ESET was able to find out the developer of the adware present. Although they weren’t named, they were shown to have a presence on Apple’s App Store, too.
This isn’t the first time we’ve heard of adware plaguing Android users. Earlier this month a further 15 apps were found on the Play Store also containing such software.
Although the programmes described above have all been removed from the Play Store, fans are encouraged to check if they still have any of them installed.
If you do, it’s advised you remove them from your device immediately.
Source: Read Full Article


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According to the "301" survey results, the United States will impose tariffs on about $60 billion of goods imported from China each year, and restrict Chinese investment in the U.S. technology industry. The U.S. taxation fields in China include those industry identified in “Made in China 2025” strategy, such as medical device, high-speed rail equipment, biomedicine, new materials, industrial robots, information technology, new energy vehicles, and aviation equipment. On March 23, the Ministry of Commerce of the People's Republic of China responded to Trump's tariff policy, released a list of suspended concessions for the U.S. import of steel and aluminum products, and proposed to impose tariffs on certain products imported from the United States, balancing the loss of profits caused by the United States' imposed tariffs on the Chinese side. The list covers areas including: fresh fruit, dried fruit, nuts, wine, modified ethanol, ginseng, seamless steel tube, etc.
The Logic Behinds the Sino-US Trade War
Trade frictions between China and the United States have occurred from time to time and mostly concentrated in China’s advantageous export sectors. In recent years, the rapid rise of China's economic power as well as science and technology strength has put pressure on the United States. It seems imperative that Mr. Trump launches a trade war with China, limiting the development of China's high-tech industry. At present, China is in the period of rapid development in industrial upgrading and economic transformation. Experts expect China's GDP growth rate to be 6% - 8% between 2018 and 2019, while the GDP growth rate of the U.S. will only remain at around 2%. In addition to the speed of economic development, China has achieved several achievements beyond the United States in the field of manufacture of science and technology, especially in the area of artificial intelligence. "China's artificial intelligence is booming" and "China's artificial intelligence will catch up with the United States" and other related topics have been reported by a number of foreign media, which has aroused even greater awareness of the crisis in the United States. The U.S. proposal to ban operators from purchasing Huawei’s or ZTE’s products and services better reflects the concern that its technological superiority may be replaced.
Besides the economic demands, the reason behind Trump's initiation of trade war is the political appeal of reducing China's long-term trade deficit with the US, guiding industry backflow and boosting economic growth. Although Trump has repeatedly stated that he wants to reduce the trade deficit since he took part in the election, the U.S. trade deficit with China was not declined instead of rising from $347billion in 2016 up to $375.2 billion in 2017. Trump is using the trade war to win votes for his upcoming mid-term elections in 2018.
Sino-U.S. Trade War, Cast its Shadows
The new round of Sino-U.S. trade war is approaching, and all walks of life as well as the entire economic market will be severely affected. Roberto Azevedo, the general director of the World Trade Organization (WTO), said in an interview with the BBC on the 28th, “If the U.S.-China trade war is fully launched, it will have a serious impact on the global economy and world economic growth may shrink dramatically.”
Since the news of Sino-U.S. trade war came out, it has attracted a lot of turbulence in the international market. The Shanghai and Shenzhen stock markets were hit hard, with the three major stock indexes plummeted more than 3%. The new energy auto industry appears to have no direct impact in the short term, but its impact is bound to be from shallow to deep process. Vehicle Trend believes that there will be lose-lose situation for both country in the long term. On the contrary, the news of Sino-U.S. trade war has put short-term pressure on Chinese telecommunications sector and the military industry. However, in the long run, it can promote the growth of Chinese enterprises as well as reduce China’s dependence on North American advanced technologies and products, improving the core competitiveness of China’s domestically produced products, and help accelerate the domestic substitution process in high-tech industries such as communications and military industry.
Even if there are many unknown crisis hidden in the Sino-U.S. trade war, and the market pessimism spreads. However, the more you can maintain a rational attitude when market sentiment fluctuates, the more you can find opportunities in danger.


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Cortana, the very famous personal digital assistant of Microsoft was first introduced in Windows Phone 8.1 and since then, there has been no looking back. The Artificial Intelligent personal assistant is robust, feature rich, user friendly and extremely efficient. Soon Cortana started rolling out into every platform and every software. A recent addition in Cortana’s list is Xbox.
The Windows 10 update for Xbox is set to release around November of this year. The new update for Xbox which will also incorporate many new features and functionalities was expected to bring Cortana around January 2016. But some of the Reddit users have reported that their Xbox One consoles which are right now experiencing New Xbox One Experience (NXOE) preview have already started showing Cortana.
A post said that if you go to the settings tab on the guide, you can move up once. If you hit the A button a few times, then you can access Cortana. Check out the videos below:


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Inflation continues to moderate in the on-site foodservice space. That, at least, is according to Aramark’s first fiscal quarter results which indicated a strong performance in all segments, led by moderating inflation, strong sales at colleges and universities, and attendance at events.
The foodservice provider reported U.S. organic revenue growth of 10% for the quarter, due to stronger sales volume, pricing and new business, according to a statement.
“Education, B&I, sports, leisure and corrections all had particularly strong quarters, driven by effectively leveraging higher revenue, especially in our Collegiate Hospitality and correction businesses, from our ability to recover the price inflation lag we've previously discussed,” said Jim Tarangelo, Aramark’s CFO, in a conference call to investors on Feb. 6.
Moderating product costs also helped the foodservice provider in the quarter.
“We’ve seen inflation moderating over the past quarter and while some areas of the globe are slower to show this trend, overall inflation is running better than originally expected and the first quarter benefited from this tailwind in improved product costs,” said John Zillmer, Aramark’s CEO.
When it comes to performance at colleges and universities, Aramark saw a strong performance in residential dining, retail and catering. Pricing also improved at the start of the academic year.
The foodservice provider also said it is seeing early success with its Eat to Excel program, designed for student athletes.
The Sports and Entertainment sector also had a strong performance in the first fiscal quarter with high attendance from the NFL and NCAA seasons. The foodservice provider also saw more concert events.
Revenue in the workplace experience sector has fully recovered from pre-COVID levels, said Zilmer. The sector benefited from new client wins and a strong base business growth.
“We are highly encouraged by what we saw in the first quarter and the continued strength in the business around organic revenue growth, supply chain initiatives and cost discipline combined with inflation moderating,” said Tarangelo.