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Apple expects to produce at least 3 million fewer iPhone 14 handsets than originally anticipated this year, according to people familiar with its plans.
The company and its suppliers now aim to make 87 million devices or fewer, compared with a target of 90 million units earlier, the people said, asking not to be named discussing private information. The reduction is primarily due to softer demand for the iPhone 14 and 14 Plus models, cheaper alternatives to the high-end Pro offerings.
Demand for Apple’s iPhone 14 models has rapidly cooled since they were launched.Credit:AP
That comes in addition to supply problems in places like Zhengzhou, which is home to the main iPhone assembly site and is under a week-long COVID-19 lockdown. Apple’s shares slid 1.5 per cent to $US136.3 as trading got underway in New York.
Sales of the iPhone 14 and Plus have rapidly cooled since their launch and the slowdown is deepening in China, according to a Jefferies analysis of the world’s biggest smartphone market. Apple previously cancelled plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialise, Bloomberg News has reported.
Still, Apple said that demand for its iPhone 14 Pro and Pro Max devices remains strong, though production of those handsets will be clipped by the lockdown in Zhengzhou. It declined to provide specific figures.
SMBC Nikko analysts led by Ryosuke Katsura lowered their overall forecast for Apple’s 2022 output to 85 million new iPhones from 91 million units. Their revised forecast actually raises expected production of iPhone Pro models, but cuts the standard editions by a bigger margin.
“Some firms have begun to factor in the potential impact of these changes in their earnings outlooks,” Katsura and colleagues wrote.
They revised their outlook after “confirmation this week of production and sales corrections in China and emerging signs of production cutbacks at some materials makers.”
Apple declined to comment beyond a statement earlier about supply from Zhengzhou.
The Zhengzhou facility, operated by Foxconn Technology Group and also known as iPhone City, is Apple’s main production hub for assembling Pro editions of its iPhones. It’s been the site of worker dissatisfaction and an exodus over the way Foxconn managed a coronavirus outbreak at the plant. The Taiwanese assembler has raised wages and put additional measures in place to improve worker welfare, which Apple has said is its top priority.
Apple’s shares are on a five-day losing streak as part of a wider tech slowdown.Credit:AP
The Chinese government’s lockdown of Zhengzhou, effective for a week until November 9, followed and now Foxconn says it’s working closely with the government to stamp out the pandemic and minimise the disruption.
Hon Hai Precision Industry, Foxconn’s main listed unit, has traded relatively flat over the past week while Apple’s shares are on a five-day losing streak amid wider scepticism about the prospects for tech and consumer businesses.
Apple’s bigger problem in the coming weeks may be the slump in iPhone demand rather than supply. China’s rigid COVID Zero policy has led to sudden lockdowns across the country, stymieing economic activity. Daily COVID-19 cases just hit a six-month high, leading officials to declare that the nation will stick to its strict virus controls.
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Meet the tiny version of Oscar winner Lupita N’yongo. This little beauty stepped on the red carpet earlier this week to conduct a photo shoot with Toddlewood that mirrored Lupita’s confidence and glamor at the 2014 Academy Awards.
Actress Lupita Nyong’O has given a new (and stunning) face to black Hollywood. Her lovely mocha skin and natural hair are images that aren’t seen as often as many would like on the big screen. In many ways, the 31-year-old ...
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OnePlus 3T launch date in India is December 4th and will be available in both the 64GB and 128GB (Gunmetal version only) on Amazon.in in India from December 14 onwards.
The price of OnePlus 3T in India will be INR 29,999 for the 64GB variant and INR 34,999 for the 128GB variant. The 64GB Soft Gold edition of the OnePlus 3T will be available shortly after launch.
OnePlus 3T boasts of dash charging and also sports an upgraded 3,400 mAh battery, a 13 percent increase from the OnePlus 3.
Other features include
– Snapdragon 821 and 6 GB of RAM
– 16 MP Front and Rear Camera with Smart Capture
– Aluminum Unibody and New Gunmetal Color


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Other World Computing, a third-party manufacturer of products for Macs and PCs, has released two new optical drive upgrade kits for 17-inch MacPro notebook computers. The OWC Mercury SuperDrive Dual-Layer Internal Drive Kits provide faster read/write times for DVDs and CDs.
The $90 kit features burn speeds up to 8X for DVD-R, 6X for DVD-DL, 5X for DVD-RAM, and 24X for CDs.
The $105 kit adds 10 pieces of 8X DVD-R media in a jewel case, back-up software, and NTI DragonBurn CD/DVD authoring software.
For more information, go to http://www.macsales.com.


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October is National Cyber Security Awareness Month, which is a good time for consumers to take stock of their online safety habits and practices. Great tips and tricks for creating stronger passwords, taking advantage of two-factor authentication and learning to spot phishing scams and other cyber threats abound from organizations like the Federal Trade Commission, Stop. Think. Connect., and NCL’s own Fraud.org.
Millions of young people are arriving on the nation’s college campuses this month—finally, life without parents for the first time for many! Unfortunately, many of these young people will be entering the consumer marketplace with little understanding of how to navigate it successfully—credit cards? utility bills? rent? And even worse—many students may fall prey to scams targeting college students.
Crooks are targeting consumers and businesses with sophisticated technology that, spread through email and difficult-to-detect downloads, encrypts the contents of a hard drive, making it impossible to use one’s files. Hackers target unsuspecting users and then claim that their data is being held for ransom -- and, once a consumer pays, there's no guarantee that the data will be unlocked.
In 2012, fake check scams earned the dubious distinction of being the top scam reported by consumers to the NCL’s fraud complaint site, Fraud.org. Nearly 32 percent of the total scams reported fell into this category, and it is the second time in three years fake check scams topped our list.
Think you're lucky in love? People who find that special someone online could be in for a rude awakening if they don’t take precautions against con artists, who use clever tactics to meet victims online, form a bond and gain their trust, and bilk them out of hard-earned money.
NCL works closely with advocates in the auto industry who know a lot about cars damaged in crashes, rebuilt wrecks, and flood cars. Hurricane Sandy brought new opportunities for fraudsters to pawn off cars damaged by flood waters to unknowing consumers.
With increased expenses around the holidays, consumers may find themselves running short of cash for other bills, and some may be considering payday loans to cover the short-term need. Thinking about a short-term loan? Better think twice.
As Americans return to the workplace next Monday after the long holiday weekend, many will spend a portion of their day surfing the Internet for deals from online retailers. Monday, December 2 -- “Cyber Monday” – is what the retail industry claims to be one of, if not the, busiest Internet shopping days of the year, and with more and more consumers opting to avoid the mall, e-shopping next week is expected to be higher than ever. Spending on Cyber Monday is expected to be in the billions of dollars.
The National Consumers League’s Fraud Center is warning businesses and non-profit organizations to be on the guard for con artists armed with bogus “invoices” for business directory listings. We regularly receive complaints about this scam, but so far in 2012, we have received more than 100 complaints, a 500 percent increase (no, that’s not a typo) versus the first nine months of 2011.
Several new trends in fraud perpetrated via mobile phones are making it more important than ever for consumers to educate themselves about these next-generation scams.


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If Kanye wants to work with you, that's probably a good sign. And while Ye's love for Adidas has certainly helped pad the brand's coffers, it isn't the only thing that has the Three Stripes flying high. According to the company's most recent financial report, profits are soaring, with Q1 growth at over 31 percent. And it isn't just Yeezy Boosts, Stan Smiths, and Pharrell collabs that are getting the job done.
According to Paul Bowyer, senior director of running at Adidas North America, the biggest area of growth is in running shoes, specifically with the UltraBoost and the AlphaBounce. "The momentum we have in running is undeniable," says Bowyer. "We're seeing runners switch brands, athletes choose Adidas over our competitors and sneakerheads demand a performance shoe."
Based on the numbers provided by Adidas, the UltraBoost Uncaged is their fastest-selling performance shoe ever (at least in America). More than 11,000 pairs were sold in the first hour alone, and the style sold out completely in a day. The AlphaBounce wasn't far behind, selling out the first shipment in only 48 hours.
With more and more athletes choosing Adidas as their performance shoes, and with the brand increasingly becoming a player in the streetwear scene, it isn't hard to see why their fortunes are up and why a certain competitor is having a bit of a tough time lately.


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Axis Europe, a specialist in improving and maintaining residential, retail and commercial properties, has secured £4.2m from RBS CIB to buy a new office in Stratford, East London.
Established in 1986, Axis has experienced strong growth and now employs more than 500 people throughout the Midlands, East Anglia, London and Kent. The business saw annual turnover increase 12% to the year ended 31 March 2013 to £89m, with profit after tax at £4.6m.
The move to Stratford, home to much of the 2012 Olympics, will see the business bring together existing Stratford and Basildon offices, allowing the business to focus on delivering further business growth.
John Hayes, CEO of Axis Europe, said: “The company has reached a size where we need to locate into new offices, and we’re delighted that Royal Bank of Scotland Corporate & Institutional Banking is supporting us at this critical time in the history of the business. We hold very real ambitions of winning more projects, helping more people and clients and continuing to grow our team, all of which will be made more achievable by our new premises.”
Grahame Wells, relationship director, RBS CIB said: “Axis Europe is incredibly passionate about what they offer as a business. The work they do in the various communities throughout the UK is evidence of the broader strength of Axis’ market philosophy and it is exciting news for the Stratford area that the business is increasing its presence in this dynamic part of London.”


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Target reported a decline in quarterly gross sales for the first time in six years, and the corporate blamed its Pride assortment for the sudden hunch.
At shops open at the very least a 12 months, sales fell 5.4 p.c through the quarter, together with a ten.5 p.c drop on-line.
The firm was additionally pressured to decrease its gross sales forecast for the 12 months, blaming the backlash for its LGBTQ+ range together with a ‘retractable’ swimwear for kids.
In addition to gross sales, Target’s buyer base fell 4.8pc in the newest quarter, with analysts blaming “an over-discretionary mix feature as well as issues with Pride merchandise”.
Target’s income in the three-month interval ended July 29 was $24.8 billion, down 4.9 p.c from a 12 months earlier.
The firm was additionally pressured to decrease its gross sales forecast for the 12 months, blaming backlash on its LGBTQ+ range in addition to “sexy” swimwear for younger folks.
In addition to sales, Target’s web site guests fell 4.8 p.c in the newest quarter, with analysts blaming an “overly discretionary shuffle feature as well as issues with Pride merchandise.”
That’s even worse than the company predicted, down nearly $14 billion after the Pride month controversy.
After a advertising and marketing marketing campaign, tens of millions of individuals vowed to boycott the corporate, with a number of shops as soon as once more transferring reveals to smaller areas.
Pride’s number of merchandise consists of a large range of clothes and homeware, in addition to a grown-up lime inexperienced bodysuit with the phrase “gay” and a mug with the phrases “Gender Fluid”.
Others criticized it for together with clothes aimed toward kids and infants, and for a label touting its “crease-friendly construction” and “extra crotch” safety. The design is designed to cowl the person’s genitals.
Shares of Target fell 27pc from a 12 months earlier, and income beat Wall Street expectations.
Brian Cornell, who has been Target’s CEO since 2014, informed the Wall Street Journal: “As we navigate the ever-changing business and social environment, we’re taking what we’ve learned.”
Rather, he defended the controversial place, saying they have been decided to keep away from a “Bud Light situation.”
Target unveiled its Pride Month assortment in early May, merely after the Bud Light Dylan Mulvaney controversy.
Target has supported Pride, which is in style all through June, yearly since 2013.
Target is celebrating Pride Month in June by creating sections in its shops devoted to particular merchandise.
The Pride assortment moreover consists of devices for infants and youngsters. Many of the gadgets are emblazoned with slogans and have the rainbow colours of the Pride flag
Eric Carnell is the British designer behind Abprallen, an LGBTQ line that sells t-shirts, sweaters, baggage and badges.
Anheuser-Busch blamed a “decline in volume” for Bud Light’s losses over the previous month after it claimed it had misplaced $390 million in US gross sales following a partnership with a trans influencer.
The figures confirmed that general gross sales in the US have been down in the April-June interval by 10.5 p.c in comparison with the 12 months earlier than.
The world’s largest brewer stated gross sales at U.S. retailers fell 14 p.c, together with a “low in the industry.” This was a direct results of the reference to Mulvaney.
In the second quarter of 2022, Anheuser Busch provided $2.73 billion price of beer to retailers. But in the second quarter of 2023, gross sales fell to $2.35 billion, which is $390 million yearly.
The backlash against Target started shortly after Mulvaney’s controversy, with them being additional criticized for partnering with Eric Carnell, the British designer behind Abprallen, an LGBTQ mannequin that sells t-shirts, sweaters, baggage and badges.
Other devices in the marketplace from Abpralle’s Etsy store are menacing. Stickers and badges that denigrate “cis feelings”—the feelings of non-trans folks—and Fox News is actually considered one of them.
Anheuser-Busch, the father or mother firm of Bud Light, has misplaced $27 billion in market measurement after its disastrous partnership with transgender influencer Dylan Mulvaney.
Anheusere-Busch notched up a whopping $395 million in gross sales after partnering with transgender influencer Dylan Mulvaney in April.
They embody badges with slogans to the impact of ‘Satan respects pronouns’, ‘Young, queer and keen’ and lighters with the phrases ‘burn cis-tem’.
Additionally, he designs a ‘Satan Respects Pronouns’ T-shirt on his Instagram net web page, whereas sporting BDSM horns and no pants.
In a biography on the mannequin’s web site, he says he has all the time been fascinated by the “scary and mystical.”
Despite the losses, Target will rejoice Pride month with the group in 2024, although executives informed The Journal that it will likely be a “more targeted selection of merchandise.”
In 2014, Target publicly supported marriage equality, and the next 12 months, it carried out an finish to safe-distribution of toy-matching merchandise by gender.
In addition, Target launched a gender-neutral line for youth, arguing in April 2016 — amid a nationwide debate over restroom entry — that transgender individuals are free to make use of any restroom they need.
A backlash adopted, and Target spent $20 million in August 2016 so as to add private damages to every of its shops.


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Germany lags far behind its neighbours when it comes to highspeed internet. A new business initiative aims to change that.
But it wants help from Berlin and Brussels.
What binds the most successful companies in the world together? According to some, it's so-called "platform" business models. And if European firms want to compete in the digital age, they need to catch up.
The EU wants online companies to filter out illegal content, but without a standard definition of what that is or how it should be removed. Critics say the potential for unwarranted censorship sends a dangerous message.
Countless reports about criminal refugees circulate on the internet. Most are simply made up, but they are not without purpose. A number of digital initiatives are attempting to counter the false reports.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version


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Vumatel fires warning shot with prepaid fibre services
Fibre network operator Vumatel has launched a prepaid platform for its fibre-to-the-home (FTTH) services, as it seeks the disruption it caused in the telecoms sector five years ago, when it entered the market.
In 2014, Vumatel unsettled the telecoms space when it pioneered FTTH in South Africa, and has since connected thousands of homes across Johannesburg, Cape Town and Durban to broadband Internet.
As margins continue to erode, with consolidation looking likely, the fibre “land grab” intensifying and customer loyalty diminishing, the telecommunications industry is evolving and new products are a must.
Vumatel believes it has the right product to again interfere with the market.
Having kept its new offering a closely guarded secret, Vumatel announced today it has launched “the world’s first” prepaid platform for fibre-to-the-home services.
To date, Vumatel says more than 1 000 homes have activated its fibre, leveraging the prepaid platform, with another 40 000 expected to be added in the next four months.
CEO Dietlof Mare says: “We believe that an innovative approach, and willingness to look beyond a postpaid model, was a critical consideration in shaping our emerging market strategy and this platform is a game-changer, for opening accessibility to emerging market communities.
“We believe this platform and the flexibility of a prepaid model has been one of the key successes of our pilot with the Mitchells Plain community. And it is a model we will definitely rollout as we embark on our emerging market strategy.”
The company, which has a footprint in excess of 600 000 homes, anticipates there are at least a further 700 000 homes in emerging markets that it can reach, and that the prepaid platform is a key enabler of this rollout.
According to Vumatel, the prepaid platform gives customers uncapped, unlimited Internet access for a 28-day period, that can either top-up automatically, or by purchasing additional access as and when finances allow.
Brian Neilson, director of BMIT, says: “This sounds very innovative, and could be disruptive, or at least an enabler, of higher uptake of the fibre service in this segment of the market. The number of activations to date that Vumatel says it has achieved sounds like a success story in itself.
“While that would be disruptive for subscriber numbers, it is harder to project a return on the fibre capex when the customer is able to switch the service on and off at will. In my opinion, that makes the move by Vumatel even more innovative by taking the risk.
“When innovative prepaid services were first introduced in the mobile market, they proved to be an enormous uptake enabler and success story.”
However, Neilson cautions: “This is a different segment and carries its own price ranges, not to be confused with the type of uncapped services that today’s fibre contracts carry. It does mean a new segment has been opened up, however.”
On the contrary, director of pricing research at Africa Analysis, Ofentse Dazela, believes Vumatel’s prepaid services are “neither a new concept nor a ground-breaking innovation in the South African telecoms landscape, as the prepaid model has long been embraced by local players, both in the mobile and fixed-line space”.
“Internet service providers such as Afrihost, Axxess and GamCo are notable service providers that have been offering prepaid connectivity in the DSL space, by making prepaid vouchers available to customers through outlets such as Engen and Pick n Pay,” he says.
According to Dazela, in the case of DSL service, “there was actually no need for customers to buy prepaid packages as the addressable market was quite happy to settle their account on a monthly basis, hence month-to-month, 12-month and 24-month contract plans remain popular to date”.
Dazela, however, says: “Considering that fibre network operators are now aiming to unlock new revenue opportunities in townships and the so-called secondary cities and small towns, operators need to review old payment methods and introduce new payment models that will not be burdensome to the low LSM market.”
Additionally, he feels the latest Vumatel offering can be a catalyst in the fibre sector.
“I believe this is the right approach and we will see lower-priced FTTH packages unveiled in these less affluent communities. It cannot be deemed a disruption of some sort per se, but rather a case of operators trying to create solutions that will assist the wider rollout of fibre services in previously disadvantaged communities.”
The latest Vumatel offering comes at a time when there is fierce competition in the fibre market.
Most companies have now set their sights on the township and smaller markets popularly referred to in the sector as the secondary markets.
In May, Telkom went live with its fibre connectivity at Orlando West High School in Soweto, giving learners Internet access.
Octotel joined in, becoming the first independent open-access fibre network operator to reach 110 000 homes in Cape Town.
In August, Vumatel announced it will rollout broadband connectivity to 900 000 households in Ekurhuleni and 450 000 in Soweto.
Frogfoot has followed the N4 through Witbank and Middelburg and onwards.


text: Tim Brown of Mobile Robotics writes "While everyone has been debating the abilities of new robotic vacuum cleaners and their varying price tags, Siemens has quietly announced they have developed a 'Dressman' robot that will iron your clothes! (my least favorite household chore). Rumoured to be priced at US$1700 it seems expensive for an iron. But it appears that the Roomba's best work might be that it is ushering in a new era of innovation in home products. (Note very cool picture with the article.)"


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The French designer was synonymous with striped sweaters and Left Bank insouciance.
The music star had launched the collection last February during New York Fashion Week.
Cuts may be coming to Condé Nast.
The post has been held by Joseph Gromek, who continues as chairman of the board of trustees at Parsons.
The Limited Brands executive, who worked on the original Angels concept, helped raise more than $1.1M for Ohio State University’s new James Cancer Hospital.


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"Ebace 2018". AW-169 helicopter enters Swiss VIP transport market with first order
Mountain Flyers will operate an aircraft for heli-taxi services from Bern Airport
Leonardo announced yesterday that Mountain Flyers of Switzerland will operate an AW-169 light intermediate twin engine helicopter, marking the entry of the new generation type into the Swiss VIP market. The announcement was made during an official ceremony held at "EBACE 2018" in Geneva.
This specially-configured aircraft, featuring an exclusive 7 seat VIP transport layout, will be used for heli-taxi services from Bern Airport. With this AW-169, Mountain Flyers will be able to serve several routes across Switzerland and Europe with even greater capacity and range following earlier operations carried out with their AWGrandNew helicopter, which had established Bern Airport’s first twin engine helicopter VIP transport service.
This latest order brings the number of VIP helicopters of Leonardo in Switzerland to over 20 and contributes to maintaining the company’s reference position in the global VIP market with a 50 percent share in the multiengine segment.
"A versatile, new generation twin engine light intermediate category aircraft, the 4.8 tonne AW-169 has been designed in response to the growing market demand for an aircraft that delivers high performance, meets all the latest safety standards and has multi-role capabilities.
Orders for more than 180 units have been ordered by over 70 customers in nearly 30 countries around the world to date for a wide range of applications (executive/corporate transport, air ambulance, law enforcement, off-shore transport, electronic newsgathering). More than 50 units have been already delivered globally", according to a note issued by the industry.
© AVIONEWS - World Aeronautical Press Agency Srl


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WASHINGTON -- The Federal Reserve Board reported on Wednesday that economic activity increased during the past six weeks, leaving many market watchers convinced that significant rate hikes are around the comer.
'I think the handwriting is on the wall," Norwest Corp. chief economist Sung Won Sohn said. "The Federal Open Market Committee is going to have to raise the rate at least 50 basis points."
"The Fed is going to raise rates higher," agreed James Bills, vice president and economist at Comerica Inc. "The open question is, will they be more aggressive than in the past and raise rates 75 or 100 basis points?"
The two economists based their forecast on the Beige Book, a report that tracks economic activity in each of the Fed's 12 districts. The report is published every six weeks, just before the meeting of its chief monetary policymaking committee, the Federal Open Market Committee.
The FOMC is scheduled to meet Nov. 15.
The Fed reported in the Beige Book that economic activity remained strong, with signs of acceleration in all regions of the country except New York.
Consumer spending was up in most areas, led by "very strong" auto sales.
Loan demand advanced at a "healthy" pace, with commercial real estate activity reporting the most gains. Single-family construction, however, fell across the Country.
Mr. Bills said his biggest worry is a line in the report stating that labor markets are tightening.
"If wages start accelerating in any meaningful way, the Fed will have to hit the brakes very hard, and that could lead to much higher rates than most expect," Mr. Bills said.
Mr. Sohn said he frets that the Fed found that manufacturers plan to pass along to retailers the increased cost of raw materials.
"That would mean higher inflation down the road," Mr. Sohn said. Threats of higher inflation lead to higher interest rates, he added.
Not everyone was quite as concerned about the Beige Book. Nicholas Perna, chief economist for Shawmut National Bank, said the report doesn't tell market watchers anything new.
"It is just kind of corroborating what we already know," Mr. Perna said.
He said a careful review of the Beige Book shows that the central bank was careful not to alarm the markets. One example of this, he said, was the decision to call loan demand healthy rather than excessive.
He' said this type of moderate language leads him to conclude a 50-basis-point raise is in the works, rather than a 75- or 100point boost.
"There is nothing in there with this type of urgency," he said.
The Beige Book also reports that:
* Bank competition for home mortgage borrowers has squeezed profit margins. But bankers report that they are not altering their underwriting standards to attract more customers.
* Warm weather has hampered apparel sales on the East Coast, though retailers said they still expect a strong holiday season.


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|EcommerceBytes-NewsFlash, Number 2552 - May 27, 2011 - ISSN 1539-5065 1 of 6|
eBay's PayPal unit filed a lawsuit against Google and two of its executives for misappropriating trade secrets and breach of contract on Thursday after the search giant announced its Google Wallet mobile payments initiative. PayPal alleges that former eBay and PayPal executives Stephanie Tilenius and Osama Bedier, now employed at Google, brought PayPal trade secrets to Google and recruited PayPal employees despite being contractually prohibited from doing so.
A Google spokesperson responded to AuctionBytes inquiry about the lawsuit by stating, "As we have not yet received a copy of the complaint and won't be able to comment until we've had a chance to review it."
PayPal is a critical part of eBay's business - it is expected to generate revenue of between $6 billion - $7 billion in 2013 - and PayPal is aggressively defending its claims to the "digital wallet" as it faces increasing competition in mobile payments.
What must be particularly galling to PayPal is that its star employee Bedier is now evangelizing Google Wallet. PayPal's lawsuit alleges that Bedier has been part of a Google team making sales calls to major retailers where he has allegedly been comparing Google's products and services with PayPal's products and services: "In particular, on information and belief, Bedier's comparisons incorporate PayPal trade secrets, including PayPal's schedule for deployment, anticipated features, and back-end approach to mobile payment, point of sale, and the benefits of a wallet in the cloud."
PayPal alleges that Bedier informed eBay and PayPal of his job offer from Google in November 2010 and said it informed Bedier that, "given his knowledge of PayPal's mobile payment, point of sale, and digital wallet in the cloud strategies as well as his knowledge of PayPal's detailed assessment of Google's mobile payment and point of sale strategies and weaknesses, that Bedier would as a matter of course misappropriate PayPal's trade secrets if he were to take that position at Google."
The lawsuit also claims that PayPal had reached an agreement with Google for an Android deal in late February 2011, but that in April, Google scuttled the deal: "It was no longer interested in partnering with PayPal, but instead decided to build a competing product with PayPal's former employees and executives at the helm."
PayPal's lawsuit details alleged correspondence between Tilenius and Bedier as she allegedly recruited him using Facebook, email and Instant Messaging, and states:
"Bedier transferred up-to-date versions of documents outlining PayPal's mobile payment and point of sale strategies to his non-PayPal computer just days before leaving PayPal for Google on Jan 24, 2011."
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About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org.
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1 of 6
PayPal Increases Fees for International Mass Payment Feature - December 26, 2011
PayPal Added to Fandango Movie App for iPhones and Androids - December 22, 2011
PayPal to Launch Mobile Daily Deals as It Seeks In-Store Acceptance - December 19, 2011
PayPal Helps Japanese Players Pay for Games on Mobile Devices - December 16, 2011


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The end of Time Out Chicago as a print publication turned out to be an extended timeout.
More than two years after shifting to a digital-only format, the weekly entertainment magazine is returning to print — at least for one issue. A special free fall preview edition of Time Out Chicago will be hitting the streets Sept. 9 with a planned distribution of 100,000 copies.
Written off as dead wood, print is working again for Time Out in New York and London, bolstering Web traffic, advertising revenue and visibility, according to executives.
"Where we've had a great print product, with a smart free distribution model, we have seen a fantastic halo effect upon our digital metrics," said Justin Etheridge, who was named executive vice president of Time Out North America in December. "Strategically, that's why we want to produce this special edition in Chicago."
The seasonal version of Time Out Chicago will look much like the glossy weekly of yore, with color-coded listing sections like eating, drinking and art, along with stories about local theater, the Chicago International Film Festival and other features. Street teams will hand out the magazine in Wicker Park, Logan Square, Lincoln Park, Lakeview and the Loop, with free copies also available at restaurants, bars, stores and other locations.
Time Out Chicago published its last print issue in April 2013, soon after it was acquired by Time Out Group, the worldwide parent company of the branded city publication. The $4 million deal was struck with Time Out Chicago owner Joe Mansueto, the founder and CEO of Morningstar, who launched the publication in 2005.
At the time, corporate owners said they wanted to get Time Out Chicago on the same page as other markets by transitioning to a digital-only format, and focusing on online growth. In the two years since, Time Out Chicago has doubled its website traffic to 1 million unique visitors a month, executives said. While Time Out Chicago is not ready to go back to weekly publication, the fall preview is likely not the last print offering from the magazine, Etheridge said.
A global network of urban entertainment guides, Time Out was founded in 1968 in London. Time Out North America, a partnership with Time Out Group, was started in 1995 with the launch of Time Out New York. Oakley Capital established a majority stake in both entities in 2011.
In its previous incarnation, Time Out Chicago was published 44 times a year and had an average circulation of about 55,000, according to the Alliance for Audited Media. Beyond entertainment listings, the magazine included interviews, columnists, reviews and features.
A Chicago staff of 60 was cut to about 10 two years ago as part of the digital transition. The cuts included media critic Robert Feder, who accepted a buyout. Feder subsequently started an independent blog licensed and marketed by the Chicago Tribune Media Group.
Time Out Chicago is now looking to expand its Chicago staff, recently adding a new editor, Lisa White, who previously served as acting editor at Chicagoist. Laura Rote also joined the team as the new deputy editor.
"We're recruiting a couple of new roles as part of this wider investment in the brand," Etheridge said. "Their unique content will absolutely be in the special edition as well."
The Time Out brand reaches 107 cities in 38 countries, with all of the European and U.S. titles owned by the parent company. Most locations are digital-only, but print is making a comeback through the free distribution model pioneered in London in 2012. New York switched to a free distribution model in April, distributing 305,000 print copies each week, a move that increased digital metrics "significantly," according to Etheridge.
Etheridge, a 13-year veteran of Time Out who previously served as CEO of Time Out Australia, said a key part of the free distribution model is having street teams hand out the magazine to the right people — primarily millennials.
"We've seen in New York and London that the brand has been able to attract significant numbers of new millennial readers by being out there proactively on the street," Etheridge said. "That's what we're looking to replicate in Chicago as well."
The Time Out Chicago website includes sponsored content — native advertisements meant to read like stories — interspersed with editorial contributions. A recent story, "Be Spontaneous in Chicago," was actually a paid travel ad for Booking.com, which got a byline credit. Etheridge said the website is in the black but believes it can be more successful with a print platform for advertisers as well.
The magazine industry faces ongoing headwinds, with ad revenues down 7 percent through July, the same decline as last year, according to Standard Media Index. Industry consultant Bob Sacks said magazine sales have dropped 50 percent at the newsstand and 18 percent through subscriptions since 2007.
As the publishing industry struggles to evolve in the digital media landscape, Time Out is not the only brand looking to print as part of the essential mix going forward.
FW: Chicago, a free, ad-supported magazine for professional women, launched with a digital-only edition in June but will publish its first print edition in September, with plans to go monthly next year.
Meanwhile, Etheridge said the Time Out Chicago special print edition has already paid for itself.
"The advertising response to this inaugural edition ... has been really strong," he said. "This publication will be commercially successful in its own right."


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The college is bringing on new property transferred from the city of Hollister.
Search sponsored by:
JQH Tower Club reopened; Tractor Supply Co. launched its first Bolivar store; and the Springfield branch of PrimeLending moved.
“Black Friday, for us, is gasoline on the fire,” says Nancy Bogart, CEO and Founder of Jordan Essentials. “You have to have a strategy ahead of time.” They plan their marketing strategies …


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Could current Wisconsin Gov. Scott Walker follow Gov. Sandoval’s and former Gov. Doyle’s precedent?
According to WTAQ News, anything could happen. Gov. Walker has said he will listen to the dairy industry and public health professionals, and if consumer safety can be guaranteed, he would approve the measure. Read more.
The last time the state considered legalizing raw milk sales, former Secretary of Agriculture Rod Nilsestuen, appointed a panel of experts to consider whether there are legal, regulatory means that might allow dairy farmers to sell unpasteurized fluid raw milk directly to consumers and, if so, what conditions would be necessary to protect public health.
However, after a year of deliberation, the 22-member panel reported that it could not endorse raw milk sales. The group agreed that if raw milk sales were made legal in Wisconsin, the state would need to impose restrictive requirements that go beyond any now found in America. Click here for more.


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FEB 27, 2019 | THAILAND
BSA | The Software Alliance Congratulates Enactment of Cybersecurity Act and Personal Data Protection Act in Thailand
Thailand— February 28, 2019 — BSA | The Software Alliance congratulates the Ministry of Digital Economy and Society (MDES) and the Government of Thailand on the enactment of the National Cybersecurity Act and Personal Data Protection Act on February 28, 2019. Effective cybersecurity and personal data protection frameworks, which are sufficiently flexible, risk-based, and aligned with internationally-recognized standards and practices, will strengthen the trust necessary to promote full participation in the digital economy and encourage the development and adoption of innovative services and technologies which will directly contribute to the Thailand 4.0 goals and priorities.
“The enactment of the National Cybersecurity Act and Personal Data Protection Act represent important steps in ensuring consumers and businesses alike can trust in and reap the maximum benefits from data driven innovations like artificial intelligence and the Internet of Things. Cybersecurity threats and risks to personal data are global in nature, and so must be the response. BSA commends the Government of Thailand for soliciting input from the private sector and other interested stakeholders in the development of these laws, and we encourage continued open communication and consultation with the private sector, including global companies,” said Jared Ragland, Senior Director, Policy — APAC.
BSA looks forward to working closely with the Government of Thailand to address our outstanding concerns regarding the implementation of the laws and aligning Thailand’s Cybersecurity and Personal Information Protection policies with internationally recognized best practices when developing, implementing, and operationalizing effective cybersecurity and personal data protection-related rules.
BSA | The Software Alliance (www.bsa.org) is the leading advocate for the global software industry before governments and in the international marketplace. Its members are among the world’s most innovative companies, creating software solutions that help businesses of all sizes in every part of the economy to modernize and grow.
With headquarters in Washington, DC, and operations in more than 30 countries, BSA pioneers compliance programs that promote legal software use and advocates for public policies that foster technology innovation and drive growth in the digital economy.


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Greenpeace has given three computer giants a resounding “F” grade for failing to follow through on promises to reduce the toxicity of their products.
The latest edition of Greenpeace’s “Guide to Greener Electronics”, released yesterday, paid special attention to the dismal performances of Hewlett Packard, Dell and Lenovo, which all failed to improve their low scores from last year.
The three companies were each given a penalty point for backtracking on their commitments to eliminate polyvinyl chloride (PVC) and brominated flame retardants (BFRs) from their products by the end of 2009.
The report said that HP continues to lag behind other PC brands having postponed its 2007 commitment to phase out PVC and BFRs from its computer products (excluding its server and printer lines) from 2009 to 2011.
“Greenpeace takes voluntary commitments very seriously and holds companies accountable for their promises. There are no excuses for backtracking, and no reason for these companies not to have PCs free of PVC and BFRs now,” said Greenpeace New Zealand communications manager Suzette Jackson.
However, the computer companies weren’t quite the worst of the 18 tech companies surveyed; Dell came in at 13th, HP was 14th and Lenovo was 16th. Nintendo came in lasr.
Nokia remained in top spot with 7.4 points out of 10, with Samsung and Sony Ericsson catching up with 7.1 and 6.5 points respectively.
LGE, Toshiba and Motorola moved up the ranking to take 4th, 5th and 6th places.
Sony dropped down from 5th to 12th position, “as it has not kept pace with progress made by other companies, especially on e-waste recycling performance”, the report said.
Lenovo also dropped down “due to further weakening of its commitment on toxic chemicals phase-out”.
Apple won praise for its new computer lines, which are virtually free of PVC and completely BFR-free and “demonstrate the technical feasibility and supply-chain readiness of producing alternatives to these hazardous substances”.
This will surely please “An Inconvenient Truth” star Al Gore, who is on Apple’s board.
Greenpeace has called on companies to eliminate BFRs and PVC from their product range, labeling them “harmful throughout the entire lifecycle of a product”.
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Samina Fazil, founder President, Islamabad Women’s Chamber of Commerce and Industry (IWCCI) said the third wave of coronavirus has pushed businesswomen to the wall. The government should announce a package for women as tall claims and announcements will never empower them.
The pandemic is hitting men more than women but the later are facing its social and economic consequences more than men, she said. In a statement issued here today, Samina Fazil said that the income, savings and assets of women are always less than men and they are less secured while the pandemic has widened this gulf. Due to less income women are cannot withstand economic shocks as compared to men and they take more time for recovery therefore the government should not rely on statements do something concrete about it, she added.
The business leader said that unprecedented inflation and unemployment has increased violence at homes and many children have left schools and they may not return. She noted that there is no market in the country where women can do their business with peace of mind while there is an acute shortage of display centres. Ban on expos have also damaged the businesswomen and women artisans who cannot afford shops and rely on such events, she said, adding that display centres should be established across the country while preference should be given to Islamabad as all the embassies are located here which can help women introduce and export their products.


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Bose is closing down all of its US and European stores
Everyone shops online these days.
Former NASA engineer thwarts porch pirates again with 'Glitter Bomb 2.0'
It packs a more powerful stench, as Macaulay Culkin himself can attest.
Bose made a 360-degree audio AR experience for the new 'Star Wars'
Plus new customized headphones in honor of the upcoming movie.
Bose 700 noise-cancelling headphones drop to $349 on Amazon
That's a solid price for travel-friendly sound.
Spotify’s free streaming will work with Alexa and Bose speakers
It arrived on Sonos speakers last week.
Save over $100 on Bose's QC35 II noise-canceling headphones
To get the full discount, you'll need to use a discount code.
Bose discontinues its Sleepbuds due to battery issues
You can return them by the end of the year for a full refund.
Amazon enlists 30 companies to improve how voice assistants work together
That includes multiple assistants on the same device that support multiple wake words.
Bose's new portable speaker has Alexa, Google Assistant and 360 audio
Take your virtual assistant on a picnic.


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Credit card firm targets teens
MASTERCARD was accused yesterday of encouraging teenagers to go into debt with the launch of a payment card for children.
The biggest credit card group is issuing prepayment cards to let youngsters purchase products on plastic.
How much the teenagers can spend is limited by the amount that their parents are prepared to deposit in advance, but the scheme was described yesterday by consumer groups as “irresponsible”.
The National Consumer Council (NCC) has raised fears that the cards will get children so used to spending money that is not theirs that they will go hopelessly into debt once they are old enough to apply for a credit card.
Supporters, however, regard the cards, which are issued by Bluecorner, as the natural step in an increasingly


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Advertising and marketing earnings is taking a hit as suppliers reduce budgets and contending apps like TikTok command market share.
While Amazon and Microsoft dominate the cloud, Alphabet is certainly catching up.
Provided the firm’s general capital and liquidity, it is hard to make the instance that Alphabet is not capitalized to weather whatever tornado comes its way.
Alphabet’s Q2 profits were mixed. With the company fresh off a stock split, capitalists got a front-row seat to the web giant’s challenges.
This has actually been an active year for Alphabet (GOOG 1.28%) (GOOGL 1.41%). The firm has gotten 2 firms in the cybersecurity room as well as most just recently finished a stock split. Alphabet recently reported second-quarter 2022 earnings as well as the outcomes were mixed. Though the search and also cloud segments were big champions, some financiers might be bothering with how the internet titan can sidestep its competitors along with fight macroeconomic elements such as remaining rising cost of living. Let’s explore the Q2 earnings as well as evaluate if Alphabet seems a bargain, or if investors should look in other places.
Is the downturn in earnings a cause for problem?
For the second quarter, which ended on June 30, Alphabet google stock class c generated $69.7 billion in overall income. This was a rise of 13% year over year. Comparative, Alphabet grew revenue by a staggering 62% year over year during the same duration in 2021. Offered the stagnation in top-line development, investors may fast to market as well as look for brand-new investment chances. Nonetheless, the most prudent thing capitalists can do is take a look at where Alphabet might be experiencing levels of torpidity and even declining growth, and which locations are executing well. The table listed below shows Alphabet’s profits streams during Q2 2022, and also portion adjustments year over year.
- Earnings SegmentQ2 2021Q2 2022% Adjustment
- Google Look$ 35,845$ 40,68914%.
- YouTube Advertisements$ 7,002$ 7,3405%.
- Google Network$ 7,597$ 8,2599%.
- Complete Google Advertising$ 50,444$ 56,28812%.
- Various other$ 6,623$ 6,553( 1%).
- Overall Google Services$ 57,067$ 62,84110%.
- Google Cloud$ 4,628$ 6,27636%.
- Various other Wagers$ 192$ 1931%.
- Hedging Gains (Losses)($ 7)$ 375NM.
Total Revenue$ 61,88069,68513%.
Information source: Alphabet Q2 2022 Profits News Release. The financial figures over exist in countless U.S. dollars. NM = non-material.
The table above shows that the search and also cloud segments raised 14% and also 36% respectively. Advertising from YouTube just boosted just 5%. During Q2 2021, YouTube advertising and marketing earnings raised by 84%. The substantial slowdown in growth is, partially, driven by completing applications such as TikTok. It is necessary to keep in mind that Alphabet has actually presented its own by-product of TikTok, YouTube Shorts. Nonetheless, administration noted throughout the incomes call that YouTube Shorts remains in very early growth as well as not yet totally generated income from. Additionally, investors learned that suppliers have been slashing advertising budget plans throughout different industries due to uncertainty around the more comprehensive financial environment, consequently positioning a systemic danger to Alphabet’s ad revenue stream.
Given that marketing budget plans and also lingering rising cost of living do not have a clear path to subside, capitalists may want to concentrate on other areas of Alphabet, particularly cloud computer.
Are the procurements paying off?
Previously this year Alphabet obtained 2 cybersecurity companies, Mandiant and Siemplify The strategic reasoning behind these purchases was that Alphabet would certainly integrate the new product or services right into its Google Cloud System. This was a straight initiative to combat cloud leviathan Amazon, along with cloud and also cybersecurity competitor Microsoft.
For the quarter that finished June 30, Alphabet reported $6.3 billion in cloud profits, up 36% year over year. To put this right into context, during Q2 2021 Google Cloud was running at about $18.5 billion in annual run-rate revenue. Only one year later on, Google Cloud is now a $25.1 billion annual run-rate-revenue business. While this income growth is impressive, it certainly has come at a price. Google Cloud’s operating loss was $858 million for Q2 2022, contrasted to a loss of $591 million throughout Q2 2021. In spite of durable top-line development, Alphabet has yet to turn a profit on its cloud platform. By comparison, Amazon‘s cloud company operates at a profit, with margins expanding from 28% in Q2 2021 to 29% in Q2 2022.
Watch on valuation.
From its stock split in early July, Alphabet stock is up about 5%. With cash on hand of $17.9 billion and totally free cash flow of $12.6 billion, it’s challenging to make a situation that Alphabet remains in financial trouble. However, Alphabet is at a critical juncture where it is seeing competition from much smaller gamers, in addition to large technology peers.
Probably capitalists need to be taking a look at Alphabet as a growth business. Offered its cloud business has a lot of room to grow, which economic discomfort points like inflation will not last permanently, it could be said that Alphabet will certainly create significant development in the years ahead. While the stock has actually been rather soft considering that the split, now might be a good time to dollar-cost standard or initiate a lasting position while keeping a keen eye on upcoming incomes records. While Alphabet is not yet out of the woods, there are numerous reasons to think that currently is a great time to buy the stock.


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Apple’s official countdown to its Vision Pro launch has begun on February 2, and the company has announced that more than 600 apps have already been developed for the mixed-reality headset. A wide range of applications — including productivity tools, streaming services, educational applications and games — raises optimism. Immediate release of Vision Pro.
Apple is bullish on the Vision Pro’s success — as bullish as the first round of customers to spend $3,500 on the premium headset. This success depends on the good turnout of dedicated developers who have already created more than 600 spatial apps and games designed specifically for the headset.
Also: How These $400 XR Glasses Cured My Apple Vision Pro FOMO
Those spatial apps and games will be available in addition to the one million Vision Pro-compatible apps already available in the App Store.
“Apple Vision Pro is unlocking the imaginations of our global developer community, and we’re inspired by the range of spatial experiences they’ve created for this exciting new platform,” said Susan Prescott, Apple’s vice president of Worldwide Developer Relations. “With more than 600 new spatial experiences to explore in the all-new App Store, along with more than 1 million compatible apps across iOS and iPadOS, users can discover a wide range of apps that expand the boundaries of what’s possible.”
“These incredible apps will change how we enjoy entertainment, music and games; spark our imaginations with new ways to learn and explore; unlock productivity like never before; and so much more,” added Prescott. “Developers are already capturing the promise of spatial computing, and we can’t wait to see what they create next.”
Apple Vision Pro immerses users in a virtual reality that they can control with gestures and voice. Apple markets the device as a major breakthrough for spatial computing: the headset expands productivity in an intuitive environment by enabling users to open files and apps side-by-side in a seemingly limitless way. Productivity apps built for Vision Pro include Box, Mindnode, Omniplan, Zoom, Microsoft 365, Webex, Microsoft Teams, Slack, Todoist, and more.
“The Apple Vision Pro is a huge step change in technology, just like the iPhone and iPad,” said Box co-founder and CEO Aaron Levy. “These technology advances introduce immersive experiences that fundamentally redefine the way we work by providing visually stunning interactions without physical limitations. From developing the next breakthrough product to reimagining the customer experience, the possibilities are endless.”
Also: Meta Quest headsets now support spatial video playback – ahead of Vision Pro launch.
The announcement also emphasizes sports and streaming apps; The wearer will feel as if they are looking at a 100-inch display, with each eye receiving a display resolution comparable to or greater than a 4K TV. Vision Pro features high-pixel density displays to render images and videos sharp, with fine details appearing crisp and clear.
“With the Max app for Apple Vision Pro, fans can reposition themselves using the Iron Throne Room environment for an immersive experience that brings viewers back to the iconic Red Keep,” said Casey Bloys, chairman and CEO of HBO and Max Content. “The intricate Targaryen-era decorations will make fans feel like they’re watching the programming available on Max in Westeros at the height of their reign.”
Also: Google Maps is getting a generative AI boost. Here’s what it looks like
In addition to the Max app, Apple Vision Pro will have Disney+, IMAX, Apple TV and Apple Music, Paramount+, Sling TV, NBC, CBS, Peacock and more spatial apps available in the App Store. Sports apps include the NBA app, MLB app, NBC Sports, ESPN, Red Bull TV, Fox Sports and PGA Tour Vision.
Vision Pro users can also have immersive experiences to discover new places, such as a virtual visit to the Natural History Museum, or take an in-depth look at the human anatomy using Insight Heart and CellWalk.
Also: What apps will Apple Vision Pro have? These two are not the main ones
No digital experience would be complete without adding online shopping; Companies like J.Crew and Mytheresa offer immersive shopping experiences, while Loe’s Style Studio and Wayfair Decorify leverage spatial computing for home design.
Gaming apps for Vision Pro include Apple Arcade, Blackbox, Void-X and more. Users can access Vision Pro apps for mindfulness and relaxation for Helium, Lungi, Odio and Endel.


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Google has been operating an MVNO using broadband from T-Mobile, Sprint, and U.S. Cellular since 2015. Following a rebrand to Google Fi late last year, the wireless service is targeting more customers than ever with expanded Android and iOS support. A new report today claims that “Google is in talks to help create a fourth US wireless carrier” with Dish.
According to the New York Post, Alphabet director Alan Mulally — a former Ford CEO — has “recently been in discussions with satellite-TV giant Dish Network about a plan to create a fourth US telecom player.”
Since last year, T-Mobile and Sprint have tried to merge into one major U.S. carrier to better compete with Verizon and AT&T. The Department of Justice has been hesitant to approve the deal due to antitrust concerns that leave consumers with one less national service.
The latest developments suggest that the government would allow this deal if a fourth network was created in place of Sprint. Dish has been increasingly positioned as taking on that position.
Today’s report suggests that Google would “help” launch this new carrier by working with Dish. One obvious role would be to supply the backend infrastructure needed to manage a complex network. The NY Posts cites an estimate from “insiders” that a “new, fully independent wireless network” could launch in “about three years.”
The NY Post also claims that there are no apparent concerns from U.S. regulators about Google helping form a fourth major provider. However, there is pushback from T-Mobile parent Deutsche Telecom about Google’s role.
Specifically, Deutsche Telekom lately has insisted that it will only sell assets to Dish if it promised not to sell more than a five-percent stake in itself to a third party, according to the sources.
This would be a huge step up for Google’s cellular ambitions, but the company has firmly denied that there are “any conversations with Dish about creating a wireless network.” While it’s possible that Mulally is in discussion with Dish, he could be acting outside his capacity as an Alphabet board member.
“These claims are simply false. Google is not having any conversations with Dish about creating a wireless network” a Google spokesman said, declining to comment on whether Mulally was speaking to Dish.
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Trolls purchase arcane patents and then sue susceptible companies to extract hefty payments, whether in the form of licensing agreements or legal settlements.
“Patent trolls are increasingly targeting chain restaurants and retailers. Traditional brick-and-mortar merchants and e-commerce companies alike have had to deal with a growing number of patent troll lawsuits over the last few years. Restaurants and retailers are targeted by trolls not just for their use of cutting-edge technology and innovations but for more practical applications as well.
“Patent trolls account for close to half of all patent lawsuits in the United States, and their suits cost the economy tens of billions of dollars a year. Lawsuits that hamper technological innovation and adoption, crowd our court system, and ultimately drive up costs for retailers and prices for consumers.
“Addressing and combating the rise of patent trolls is a top priority for retailers, and the introduction of this bill shows that it is a growing congressional priority as well. NRF welcomes continued congressional attention to patent troll abuse, and looks forward to working with policymakers to bring the issue under control.”
As the world’s largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad. Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy.
National Retail Federation
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Maryland is debating whether to ban "the pit bull of fish," the lovely, omnivorous snakehead, an "invasive species" that is striking terror into the hearts of Marylanders like Son of Sam did to New Yorkers a few decades back. Importing the fish and transporting it across state lines is already forbidden by the feds.
Snakeheads have been likened to "stomachs with fins" and are known for jumping out of fish tanks, traversing short land areas, and killing other fish when dumped into ponds and rivers. Some breeds are eaten in mostly Asian restaurants; others are popular in fish tanks because, as one pet store owner told The Washington Post, "they eat other fish.".
The Post story, which details owners' worries that their pets are about to become illegal aliens subject round-ups, is online here.
Reason Managing Editor Jesse Walker authored a novel way to combat snakehead proliferation back when the fish first surfaced as a major threat to life, liberty, and the pursuit of happiness. That's online here.
And Science Correspondent Ronald Bailey poured some cold water on worries about "invasive species" here.


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Planning for Trade Issues 2020 | UK Global Tariff
12 February 2020
The British Government has issued an information notice regarding their new external tariff (UK Global Tariff – UKGT) that will come into effect on the 01st Jan 2021. This replaces the previous Temporary Tariff Regime proposed last year which would have seen a 0% duty rate on 87% of all imports to the UK.
This is interesting as it shows a hardening of approach by the British Government.
Last year, with the possibility of a no deal looming, tariff rates were proposed to widely remain at 0% and the controls at the border were intended to be minimal.
The new proposal, however, is for a more regulated approach with tariffs and full customs checks at the borders including agricultural controls on food products. This approach is consistent with the comments made by UK Chancellor of the Exchequer, Sajid Javid, earlier in January that more friction at the borders is inevitable.
With regard to Tariffs, the Government is opening up consultations to the public concerning the structure of the new UK Global Tariff, which you may be interested in responding to. The consultation will close on 05th March at 23.59.
The British Government has advised that the Consultation will provide an opportunity for companies to provide:
- Their views on a potential series of amendments being considered to the tariffs the UK currently applies through the EU’s Common External Tariff (Specifically: simplifying and tailoring the UK Global Tariff policy, removing tariffs on goods imported by UK businesses to manufacture other goods and where the UK has zero or limited domestic production)
- Specific feedback on specific products or commodity codes of importance to them, including on the corresponding tariff rate; and
- Information on their interactions with the MFN tariffs of other countries and the importance of tariffs to their sectors.
On a positive note, the UK have mentioned that they intend to:
- Significantly simplify their tariff and getting rid of nuisance tariffs (any tariff less than 2.5%)
- Remove Tariffs on key inputs to production
- Remove tariffs where the UK has zero or limited domestic production.
Agricultural tariffs - which in the EU external tariff can take many different forms (e.g.. specific tariffs, compound tariffs, mixed tariffs etc) may also be simplified to a single ad valorem rate.


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Digital Shoreditch 2013’s growth reflects London’s ambition to become one of Europe’s technology capitals
London's continued Tech offering today celebrated the opening day of the two week Digital Shoreditch 2013 festival, which takes place across East London's Tech City.
In its third year, the event brings together a community of 15,000 digital creative, technologists, entrepreneurs and enthusiasts and last year attracted over 6,000 delegates with support from more than 40 sponsors and partners. The event uncovers the latest social and technological changes that are disrupting the digital space, with speakers from Tech City, Google, IBM, Mixcloud, Adobe, Ogilvy & Mather and London School of Economics as well as the hottest up and coming start-ups participating. Attendees can witness first-hand the very latest disruptive technologies, as well as get advice on running and managing start-ups and raising capital for their business.
The theme of the first day is entitled ‘What Tech City day, WTC?’ includes an all-star guest list featuring the movers and shakers that define the area as Tech City. The first day has been designed especially for international businesses to highlight why London is the ideal place to set-up and start a tech business.
The two week Festival, is heavily supported by the Mayor of London's promotional organisation London & Partners and Tech City who are also involved in a number of support activities across the Festivals period, including a London v New York debate and hosting 40 international businesses that are looking to the capital to set-up or expand their business in the future.
The group of 40 international delegates will be hosted at the Open Data Institute (ODI) from Tuesday and will be meeting a whole range of London tech businesses and start-ups who have found success in London's Tech City. The 40 delegates come from Mexico, Brazil, Finland, Estonia, France, Spain, Portugal, Czech Republic and the US. The 40 businesses will have the opportunity to hear from and meet a range of Tech City businesses on their programme including General Assembly, Culture Label, Decoded, and iZettle. They will also visit Hoxton Mix, Central Working, Google Campus and Queen Mary University.
Mayor of London Boris Johnson said: “The Digital Shoreditch Festival will bring together all those movers and shakers who are helping to keep the capital at the cutting edge of the world of digital technology. London’s tech industry is a vital component of my plan to deliver jobs and growth for London and this event is a chance to showcase where the opportunities for new innovations lie. The Festival provides an opportunity for everyone involved in the tech and digital industries to come together, share insights and promote their success stories to international companies who are increasingly seeing the Tech City cluster as a fantastic place to invest in.”
Kam Star, founder of Digital Shoreditch 2013, said: “Interest and attendance to Digital Shoreditch 2013 is at its highest ever, clearly communicating that London has reached a major milestone as a leading technology city attracting some of the most successful technology companies and digital start-ups. This year the festival looks at the fastest growing digital trends such as ‘trendjacking” the applied use of behavioural sciences in digital, and interjecting digital into broadcast. The technology ecosystem that London has created is flourishing and the growth of Digital Shoreditch is testimony to how bringing communities together can help fuel ideas, entrepreneurship and incubate technology businesses.”
Ben Southworth, Deputy CEO of Tech City, said: “Digital Shoreditch does a great job of training a spotlight on the unique ecosystem we have in East London. Tech City is already home to more than 1,300 digital businesses, and festivals like this play a vital role showcasing why London is one of the world’s best places to start and grow a business. It’s fantastic that this week we have delegates from all over the world looking at why they should choose London, getting a flavour for our unique culture and witnessing first-hand the vibrant events that make our community so special. I’m sure they’ll head back home wanting more.”
Digital Shoreditch is supported by Tech City, the thriving East London eco-system home to over 1,300 tech companies, ranging from start-ups to large corporates. Within the cluster there are hundreds of companies at every stage of the imagine, start and grow trajectory, and over 30 bustling co-working spaces that foster the spirit for which the community is renowned. With the academic clout of some of the country’s leading academic universities on its doorstep, Tech City is also the scene of nightly educational, social and networking events that offer a unique and vibrant way of bringing the community together.
Notes to Editors
London & Partners
London & Partners is the official promotional organisation for London. Our company attracts and delivers value to business, students and visitors. London & Partners is a not-for-profit public private partnership, funded by the Mayor of London and a network of commercial partners. Our remit is to drive leisure and business visitors as well as bidding to secure major events in London, to unlock the city for overseas businesses who want to set up or expand in London and to promote the capital’s world class universities to international students. Our intention is to work in partnership with organisations in London and across the world to deliver our goal - that London be globally recognised as the best big city on earth. For more information visit www.londonandpartners.com
Digital Shoreditch celebrates the outstanding creative, technical and entrepreneurial talent of East London and Tech City. It runs monthly meet-ups, a huge festival of the most talented digital and technical creatives, connects brands and buyers to its members, and runs a comprehensive directory, hackathons and other competitions. For Digital Shoreditch 2013 festival it is turning Shoreditch Town Hall into an extraordinary digital playground between Monday 20th and Sunday 26th May, with the community programme the following week, running until Friday 31st May.
Tech City was established by UKTI to support the growth of the tech cluster in East London. Our aim is to help the East London cluster become Europe’s centre of innovation and the location of choice for tech and digital companies and investors. Tech City brings new companies and investors to East London, and provides support to local companies seeking to expand internationally. For more information visit www.techcityuk.com
For further press information contact:


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STEVE INSKEEP, HOST:
IPhones are still cool - or at least people are still buying them a lot, which is good news for Apple, which took a gamble on the latest version. NPR's Laura Sydell reports.
LAURA SYDELL, BYLINE: It was a dramatic market entry for the iPhone 7 last year. Many Apple customers grumbled when Apple took away the headphone jack and it gave everyone an adapter to plug its earbuds into the lightning, or charging, connector. But everyone seems to have adjusted. Apple sold 78 million iPhones over the holiday season. And in an earnings call, CEO Tim Cook implied they could have sold more of them if they'd had enough in stock, says Gartner analyst Brian Blau.
BRIAN BLAU: So that was encouraging news. And that means that there's built up demand out there. And that means that it's very possible that that demand will be continued into this quarter.
SYDELL: Apple has more than a billion activated mobile devices around the world. So along with the increased iPhone sales, it's also bringing in more revenue from its AppStore, iTunes and cloud services. CEO Cook mentioned the current political climate in the U.S. in connection with future growth. He seems to feel it's likely Congress and the Trump administration will make it less pricey for Apple to bring billions of dollars back into the U.S. by decreasing the tax penalties. Apple is expected to move into creating original film and TV content, so Forrester analyst James McQuivey could imagine a way for Apple to spend that money.
JAMES MCQUIVEY: Perhaps investing in a major studio in the U.S. in such a way that you can start making original content right away. Having more of that money here locally to do that would be one way to spend that money.
SYDELL: Earlier this week, Cook was less sanguine about the Trump administration. He criticized it for the executive order banning immigration from certain countries, which would affect some Apple employees.
Laura Sydell, NPR News, San Francisco.
(SOUNDBITE OF HARRIS NEWMAN'S "LAKE SHORE DRIVE (SLIGHT RETURN)")
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The medical-device industrys primary lobbying goal this year is to repeal Obamacares 2.3 percent excise tax on medical devices. Device makers have been collecting and remitting this new tax since the beginning of 2013. The industrys largest trade association has published a list of studies, from 2011 and 2012, which anticipated that the tax would result in significant harm to research and development, as well as employment in the industry. Now that we are in the second half of 2013, we can inquire whether the early evidence confirms these predictions. Preliminary research on the financial results for the first half of the year suggests that the excise tax is causing significant harm.
One of the reasons that it has been difficult to repeal the tax is that its dwindling band of supporters have asserted that the medical-device industry will earn a windfall of revenues once Obamacares benefits kick in. That is, once over thirty million newly insured people start lining up for medical care, device makers sales will rise in response. There are a couple of flaws in this argument.
First, items like stents and artificial joints are disproportionately used by Medicare patients, because they address consequences of aging. Thats not to say that there will be no increase in demand from the newly insured, but only that those in greatest need of big ticket medical devices are already insured.
Second, Obamacare and other influences in the health care system put the squeeze on medical-device makers by increasing the power of hospitals. Hospitals are merging and consolidating into larger systems. Research (such as two recent studies by The Center for Studying Heath System Change and the Robert Wood Johnson Foundation) generally concludes that this market power results in higher fees charged to patients and insurers. Surely, consolidation also gives hospitals market power over their suppliers, as well as their customers.
Even if it is true that device makers are going to earn a windfall from Obamacare, the increased revenue will not be realized until 2014, when Obamacares benefits finally roll out. So, 2013 alone should certainly be all pain and no gainan annus horribilusfor the medical-device industry in the U.S.
One question that has not been well addressed by previous research is how the cost of the device tax will be divided among the affected parties. This is because we do not have good estimates of the relevant price elasticities. At one extreme, the device makers could pass the entire tax onto hospitals, which continue to buy the same quantity of medical devices.
This is unlikely. If it were, hospitals, rather than device makers, would be more heavily invested in repealing the tax. (Instead, hospitals and their purchasing agents have launched a public affairs campaign to shame device makers who add the excise tax as a separate line item on their invoices.)
At the other extreme, hospitals could threaten to cut back their purchases of devices if the tax were passed through at all. Device makers would then have to decide whether to absorb the entire tax or pass it on and suffer reduced sales. Either choice would result in reduction of supply at the margin. The actual outcome must be somewhere between these extremes.
In a new research note, I calculate a preliminary estimate of the taxs effect on U.S. sales of medical devices. The sample is the ten largest publicly traded firms in the S&P Health Care Equipment Select Index (which is replicated for investors in the SPDR S&P Health Care Equipment Index ETF [NYSE: XHE]. I estimate the effect of the tax by analyzing net U.S. sales and net international sales for the first half of 2013 and 2012. For three of the firms (Thermo Fisher [NYSE: TMO], Boston Scientific BSX +0.57% [NYSE: BSX], and Zimmer [NYSE: ZMH]), U.S. sales were not clearly segmented from international sales. One firm, Waters WAT -6.01% [NYSE: WAT], makes lab equipment and does not appear to have any products subject to the tax. Excluding these firms leaves six in the sample.
These six firms (Medtronic MDT +0.42% [NYSE: MDT], Covidien COV +1.07% [NYSE: COV], Stryker [NYSE: SYK], St. Jude Medical [NYSE: STJ], Intuitive Surgical [NASDAQ: ISRG], and CareFusion [NYSE: CFN]) paid an estimated $117 million in excise taxes in the first half of 2013. Three trade associations for the industry have reported that their members remitted one billion dollars of excise tax in the first half of 2013. So, we can conclude that the firms in this sample account for about twelve percent of affected sales. The sample is limited by the absence of conglomerates with medical-device divisions, especially Johnson & Johnson [NYSE: JNJ], General Electric [NYSE: GE], and Siemens [NYSE: SI]. However, it was not possible to extract the relevant sector-specific or country-specific figures from their financial statements.
Table 1 reports U.S. and international sales from these six device makers. It shows the change in sales for the first half of 2013 versus the first half of 2012, as well as the change for the first half of 2012 versus the first half of 2011. For consistency, the figures are reported net of sales attributable to businesses divested or acquired in those periods (as accurately as possible, given limits of the financial statements).
For these six major companies, U.S. sales in the first half of 2013 were essentially unchanged over the first half of 2012, at just over $14 billion. Internationally, however, sales grew 6.33 percent, from $9.7 billion to $10.3 billion. It is highly unlikely that differences in macroeconomic performance explain the dramatic difference: The International Monetary Fund (IMF) estimates that U.S. growth in 2013 will be 1.7 percent, versus just 1.2 percent for all developed economies (which account for over two thirds of the global medical device market).
The only major factor that changed between U.S. and international medical-device markets in 2013 is the excise tax. The tax must, therefore, explain much of the U.S. lag. By way of comparison, U.S. sales in the first half of 2012 rose 3.74 percent versus the first half of 2011, while international sales declined by 1.30 percent. In this earlier period, general economic performance does provide an explanation: U.S. growth in 2012 is estimated to have been 2.2 percent, versus only 1.2 percent for all developed countries.
Admittedly, this is a very preliminary analysis of a small (but important) sample. Further, high growth in U.S. sales last year might reflect device makers stuffing their channels and hospitals stockpiling before the tax took effectbut that is not a long-term solution to avoiding the tax. Also, the rate of growth of U.S. health spending has been shrinking. However, as Joe Antos of the American Enterprise Institute has explained, this has taken place since 2002: It is not a consequence of Obamacare.
As well, U.S. health spending is still growing at a clip well over three percent. The stall in medical-device spending can only be explained by a shift to other health spending. One of Obamacares selling points was that government-appointed experts would make U.S. health care more efficient, but it was never sold on the grounds that discriminatory taxation was going to change medical practice.
2013 is shaping up to be a very painful year for device makers in the U.S. Will there be a windfall of Obamacare revenues starting in 2014? Maybebut it will have to be huge to overcome the sales-crushing effects of the excise tax.


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We have become an international brand with most of our clients living outside of the 2020 you’ll go down in history shirt in addition I really love this U.S. That’s why in February 2018 we opened our showroom and home in Paris,” she wrote in a release. “When we started to assess with the team what the best course of action was to navigate the ever-changing landscape as a result of the pandemic, we realized that for many reasons it became increasingly clear that we will have to present in Paris from an environmental perspective and from a logistics and transportation perspective.” By the brand’s calculation, showing the collection in Paris will reduce its carbon footprint—even though team members will have to travel from New York to Paris, shipping the collection from its factories in Italy to Paris will save on environmental impact. “One of our biggest carbon producers was the transport of our collection,” the designer says. There’s also, of course, the sentimental reason for trading New York Fashion Week for Paris Fashion Week: “Above all, it is always a dream for any designer to show in Paris,” she continues. Without Hearst’s show—often one of New York Fashion Week’s most well-attended events—the week’s three-day schedule of virtual shows is starting to feel a little thin. Marc Jacobs, the showman who famously closes out the week, is not producing a new collection. There’s no update as to whether Tom Ford and Ralph Lauren, two stalwarts of American fashion, will show either. It’s not necessarily all bad news: This could be a moment for upstart American designers to have their moments in the spotlight. As we’ve seen with the A Common Thread program, there are plenty of small, innovative, and promising designers who need more industry support. This year, they will likely get it. Saks Fifth Avenue’s flagship store on Fifth Avenue is reopening to customers today in a changed New York and a changed world. On the outside, the store has replaced its boarded-up façade with windows featuring a “Welcome Back, New York” theme. Inside, you will be met by a concierge who will present you with a nonmedical mask if you’ve forgotten yours, a hand sanitizer station, and, says president Marc Metrick, “the best product assortment and the most welcoming staff in all of New York City and all of the U.S.” Other stores up and down the avenue might be struggling with phase two of New York City’s reopening plan—Valentino, for one, is trying to get out of its lease on the thoroughfare completely—but Saks is assuming a hopeful approach.
2020 you’ll go down in history shirt, hoodie, tank top, sweater and long sleeve t-shirt
Precautions are being taken at every turn inside the 2020 you’ll go down in history shirt in addition I really love this store, with ultraviolet lights sanitizing escalator railings, elevators reserved for seniors and people with disabilities, and surfaces being sanitized multiple times throughout the day. In addition, a number of virtual services, including video chat shopping, allow shoppers to get the Saks experience from the comfort of their couch. Metrick is “cautiously optimistic” about foot traffic at Saks’s NYC flagship this week. With New Yorkers fleeing the city’s summertime humidity for greener pastures, June, July, and August are typically slow months for physical sales in the Fifth Avenue store (hence, a new same-day shipping service to the Hamptons). Metrick is also encouraged by the ways in which the COVID-19 pandemic has accelerated the transition to e-commerce and online communication and further incentivized marrying digital and physical experiences. The future, he says, “is going to be about how we connect our physical experience with our virtual experience. That’s going to be the real push here because there’s no better customer than the one that shops both online and in store.” But what about the other issues concerning the fashion industry right now? In the three months since Saks closed its Midtown store, fashion has undergone reckonings on every level. Industry professionals are advocating for shifting the fashion show and delivery cycles to allow products to be sold in season, delaying markdowns to better suit marketing and sales budgets. There is the global Black Lives Matter movement, which has compelled fashion companies to interrogate how their practices have upheld systemic racism. Fashion must redefine its place and its purpose. Here, Saks’s repositioning of product and embrace of new digital technologies offers some ideas for how to move forward. Saks, Metrick notes, had been trying to realign its seasons since before the pandemic, but the pause made possible by lockdowns and delayed shipments forced the retailer into action. “We’re opening our store [today] in New York, and it’s all seasonally appropriate product for the first time in 96 years,” he says. By delaying the on-sale dates of some spring collection orders—as well as paring back its buy—Saks is doing exactly what signatories of Dries Van Noten’s forum letter and the Rewiring Fashion petition have advocated: selling product in season and pushing back markdown cycles. “It’s really a proof of concept,” he continues. “We have to do it together as an industry, change the product flow, and continue to think about how goods are coming to the store and when they’re available for customers.”


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Computer Music news
[NAMM] Softube announces a transient shaper
Softube is at NAMM 2015 to introduce a new flexible Transient Shaper plug-in for Mac and PC.
[NAMM] New Behringer audio interfaces
Behringer completes in 2015 its U-Phoria series of USB audio interfaces with three 2x2, 2x4 and 4x4 HD models.
[NAMM][VIDEO] Zynaptiq develops Morph
Zynaptiq is at NAMM where they announced that they are working on two Prosoniq plug-ins, the Orange Vocoder and Morph for Mac.
[NAMM][VIDEO] Cakewalk Sonar Platinum
Cakewalk gave us a private and exclusive presentation of their new generation of SONAR DAWs.
[NAMM] Pro Tools 12 and First free
Avid unveiled today the new version of its Pro Tools DAW, including the very First free edition.
[NAMM][VIDEO] Akai Advance 61
Akai introduces at NAMM controller keyboards with advanced plug-in integration. Is it the first serious competitor to the Native Komplete Kontrol?
[NAMM][VIDEO] Novation Launchpad Pro
Our team went to celebrate the 5th anniversary of the Launchpad controller for Ableton Live with Novation at NAMM 2015…
[NAMM] MOTU 112D audio interface
The MOTU AVB compatible professional audio interface family welcomes a new version, the 112D that supports up to 112 channels.
[NAMM][VIDEO] UAD Apollo Expanded
We met the Universal Audio team at NAMM 2015 for a presentation of the upcoming UAD Software v8.0 with Apollo Expanded software.
[NAMM][VIDEO] Arturia BeatStep Pro
The BeatStep Pro MIDI controller and sequencer is Arturia’s other big news at NAMM 2015. Let’s see and hear what it can do…


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Despite the hype, patients' use of retail clinics is 'modest'
The number of patients who've tried out retail clinics turns out to be modest, say the authors of a study from the Center for Studying Health System Change. Only 3.4 million American families, or 2.3%, had used a retail clinic as of 2007, according to survey results. The study's authors noted that retail clinics have turned out to be more complex and costly to operate than expected, and some physician practices are responding by extending their own office hours and doing more same-day scheduling.
- CDC Warns of Antibiotic Overuse in Hospitals
- Two-Midnight Rule Must be Fixed or Replaced, Say Providers
- Don't Underestimate Emotional Intelligence
- Care Coordination Tough to Define, Measure
- The Secret to Physician Engagement? It's Not Better Pay
- SCOTUS Review of NC Board Case 'A Very Big Deal' to Providers
- Yale New Haven Health Partners with Tenet Healthcare in CT
- Physicians Take SGR Repeal Message to Washington
- Size Matters in Antibiotic Overuse
- Evidence-Based Practice and Nursing Research: Avoiding Confusion


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Apple’s podcasts have topped 50 billion download and streams since it debuted in 2005, reports Fast Company. The article says that, per Apple, iTunes is home to over 525,000 active shows with more than 18.5 million episodes with content in over 100 languages in 155 countries.
According to Fast Company:
- In 2014, there were seven billion podcast downloads.
- In 2016, that number jumped to 10.5 billion.
- In 2017, it jumped to 13.7 billion episode downloads and streams, across Podcasts and iTunes.
- In March 2018, Apple Podcasts passed 50 billion all-time episode downloads and streams.
Like this article? Consider supporting Apple World Today with a $5 monthly Team AWT membership.


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One company claims that it has invented the world's most efficient shower, taking inspiration from way up in space.
Orbital Systems, a Sweden-based clean-tech company, has come up with a shower that reuses and reduces water consumption through a purification system.
Founder and CEO Mehrdad Mahdjoubi said he found inspiration while working on a "Journey to Mars" design collaboration project between Lund University and NASA's Johnson Space Center.
"You don't have any choice when you're up in space or when you're going to Mars. You have to recycle; you have to use your resources in the best possible way," he told CNBC's "The Rundown" on Friday.
And along this vein, he created the sustainable Oas shower, which earned him a place in the Energy category of 2016's Forbes "30 under 30" list.
The shower saves up to 90 percent of water and 80 percent of energy compared to normal units, and has been dubbed the shower of the future.


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Poland on Thursday banned junk food in schools from January next year to trim rising rates of childhood obesity.
17 hours ago
5 / 5 (1) | 0
Avoiding power struggles in the grocery store with children begging for sweets, chips and other junk foods – and parents often giving in – could be helped by placing the healthier options at the eye level of children ...
15 hours ago
1 / 5 (1) | 0


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Fri, Apr 21, 9:26am by Staff Writer
TopBetta Holdings Ltd., an online race and sportsbook company listed on the Australian Securities Exchange (ASX), recently announced the acquisition of start-up competitor Mad Bookie Pty Ltd.
In a press release issued on April 13, the Newcastle-based TopBetta outlined the terms of its asset acquisition agreement with the Melbourne-based Mad Bookie.
According to the announcement, TopBetta will absorb Mad Bookie’s database of more than 15,000 active user accounts, one which produced an annualised turnover rate of nearly $80M during each of the last two years since the company was founded.
Todd Buckingham, chief executive officer of TopBetta, spoke glowingly of Mad Bookie’s extensive database of regular online punters:
“To acquire a ready-made, active database like Mad Bookie’s under this arrangement makes a lot of sense in an industry that has high customer acquisition costs, and we will certainly be on the lookout for similar deals should they arise in the future, both here in Australia and internationally.”
Buckingham also outlined plans to maintain the Mad Bookie brand, which will operate under the Sports Bookmaker’s License awarded to TopBetta by the Northern Territory Racing Commission (NTRC) last year:
“The acquisition of Mad Bookie has the potential to quickly and substantially increase turnover for TopBetta’s retail business, while adding significant revenues due to higher yields and cost savings through aligning the synergies between the businesses.”
Brett Luntz, founder and chief executive officer of Mad Bookie, also spoke about the potential for synergy between the brand he built and TopBetta:
“We are delighted to be joining the TopBetta group.”
“We believe that the baseline we have set up for our loyal customer base over the past 24 months will be further enhanced through this acquisition and the synergies it delivers. We couldn’t be more excited.”
TopBetta was founded in 2013, under an original license issued by the Norfolk Island Gaming Authority (NIGA), before gaining certification by NTRC. In July of 2015, the company was officially listed on the ASX.
Mad Bookie was founded in 2015 and operated under a NIGA license until the TopBetta purchase was announced.
That deal is still pending approval by NRTC and assorted state racing regulators, including Racing Victoria and Racing NSW.
If approved, TopBetta would pay Mad Bookie an initial cash installment of $100,000.
From there, the value of Mad Bookie’s assets would then be calculated based on the completion of a 12-month “earn out” period. During that time, the company’s average monthly net gaming revenue – less taxes and product fees – will be multiplied by 24, with the initial installment payment deducted.
Whichever total is highest, $400,000 or the resulting net gaming revenue, would be established as the final purchase price.
Top Betta executives have elected to retain their counterparts at Mad Bookie, along with supplementary staff, for at least the duration of the earn out period.
Both companies are domestically owned and operated, eschewing the typical model of offshore investment or ownership in favor of an Australia-focused philosophy.
Even so, as Buckingham revealed to TopGaming, TopBetta expects to use the Mad Bookie acquisition as a springboard to both domestic and international expansion:
“The deal is a win-win for both parties, which is always pleasing when you can do deals like that. Adding Mad Bookie to our company forms part of our strategy to expand not only in Australia but internationally.”
“Not many bookmakers based in Australia have the capability to expand internationally due to their HeadCo structure being based overseas already, but it is an opportunity afforded to us and we intend to take advantage of this.”
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