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All NARGON members should know the answer to these three questions:
Food prices down again, card spending up
Food prices fell 0.3 percent in February 2013 according to official figures from Statistics New Zealand. The decline was led by cheaper prices for the meat, poultry and chicken category, and the fruit and vegetable category. The price of fresh milk (up 2.1 percent)showed the largest monthly rise since July 2010 and is now at its highest level since May 2012. The price of boxed chocolates (down 21 percent)falls every February because of Valentine's Day.
For the year to February 2013, food pricesdecreased 0.1 percent overall. Decreases included grocery food (down 2.1 percent), and meat, poultry, and fish (down 1.2 percent). Fruit and vegetable prices increased 6.3 percent over the year. Prices for fresh milk (down 6.0 percent), butter (down 20 percent) andcheese (down 5.4percent) all dropped.
Figures from Statistics New Zealand show shoppers in New Zealand spent more using debit and credit cards in February 2013. After being adjusted for seasonal effects, the value of electronic card spending in the retail industries increased0.8 percentin February 2013. This was the fifth consecutive monthly increase and the largest since August 2012. The consumables sector, which includes supermarkets and retail grocery stores, was the second largest increase, up 0.6 percent ($9 million).Back to top
Political profile Darien Fenton (Labour)
Darien Fenton is a third-term Labour List MP who became the partys new spokesperson for Labour and Employment Relations earlier this year. A former Vice President of the Council of Trade Unions (CTU), she has written a column for the NARGON News on minimum and living wages:
The Government has announced that the Minimum Wage will increase by 25 cents to $13.75 an hour from 1 April this year
The Minimum Wage is just that: the legislated minimum below which no worker can be paid. It should not be confused with the Living Wage, which has had a lot of publicity recently.
The Minimum Wage is decided by the government, after consultation with employers and unions, and advice from government agencies.
A Living Wage enables workers to survive and participate in society and has been calculated at $18.40 an hour by the community campaign behind the growing movement. It is based on a family who work 60 hours a week and have two children, and takes into account government transfers, housing costs and other necessities.
A Living Wage doesnt require a legislative commitment because it is essentially a voluntary process. However, governments can lead by example by ensuring publicly funded organisations can pay a living wage. Employers who can pay lead the private sector by paying a living wage and become exemplars for others.
The benefits to business and the community of a Living Wage are well established: retention of staff and lower turnover costs, lower rates of absenteeism and sick leave, enhanced productivity and better morale and motivation.
Low-income households spend a larger share of their income on a weekly basis than high income earners. When workers can afford to buy goods and services, businesses, large and small, benefit.
Labours approach is to lift the Minimum Wage to $15 an hour and to champion the Living Wage in both the public and private sectors.
The Governments approach is different. For example, the Minimum Wage (Starting Out) Wage Bill is due for its second reading and needs to be passed in time for commencement on 1 May 2013.
The bill reintroduces youth rages for 16 and 17 year olds, and allows 18 and 19 year olds who have been on any social security benefit to be employed on 20 percent less than other workers. We havent seen youth rates for 18 and 19 year olds since the 1990s.
As you would expect, Labour doesnt support this bill. And nor, from what we heard at Select Committee, do most submitters more than 500 of them. Some employers told us that they dont believe youth rates are a magic bullet, and there needs to be a range of interventions to tackle our burgeoning youth unemployment. We agree.
The bill is unlikely to succeed in its aim of reducing youth unemployment. There are more effective and equitable means to improve outcomes for 15-19 year olds by way of investment in education and active labour market policies.
Apart from that, we dont believe young workers should be paid lower wages because of their age, especially when they are doing the same work as an older worker. Its not fair that 16 and 17 year olds, who gain experience in one job can be returned to youth rates in their next job.Back to top
NARGONs position on minimum and living wages
NARGON has long supported the concept of a minimum wage for all employees. However, we have often disagreed with the Government regarding the level at which it should be set each year. While the Government says the minimum wage is a careful balance between protecting low-paid workers and ensuring jobs are not lost as the economic recovery gains pace, we believe the constant increases have priced a large number of young and/or inexperienced workers out of jobs.
Despite the criticism from opposition parties, unions and segments of the media, the National-led Government has actually increased the minimum wage every year it has been in office.
NARGON is not prepared to advocate for the so-called living wage of $18.40 an hour though we respect that what Government departments, councils, universities or companies choose to pay their workers is completely up to them. We believe an effective 35% increase in the minimum wage would have a huge impact on companies in the retail grocery sector which employ a large number of first time employees and operates on very thin margins. Job losses and stores closures would be the likely results of a living wage economy.
The OECD database shows that New Zealands minimum wage ($13.75 an hour) is around half the average New Zealand hourly wage of $27. According to the OECD, that proportion is the highest in the developed world. In all other countries, the minimum wage is under half the average wage. That includes Canada (40 percent), Britain (38 percent) and America (28 percent). NARGON believes the minimum wage as a percentage of the average wage is a more important figure than the face dollar value of the minimum wage rate.
Minimum wage up again and Starting Out Wage passed
Starting Out Wage
Yesterday the Starting out wage for young people, narrowly passed its third and final reading in parliament.
From May 1st 2013, 16- and 17-year-olds will be paid 80% of the minimum wage, or $11 an hour, in their first six months of work with a new employer.
Three groups will be eligible unless they are training or supervising others:
Under the starting-out wage, eligible 16-to-19-year-olds can be paid 80 per cent of the minimum wage for six months or for as long as they are undertaking recognised industry training of at least 40 credits per year.
New Minister of Labour Hon Simon Bridges has confirmed that the minimum wage is to rise on 1 April 2013 to $13.75 an hour, up from the current rate of $13.50, and the training and new entrants minimum wage will increase from $10.80 an hour to $11. This is 80 per cent of the adult minimum wage. Members should ensure their payroll system reflects these changes. Employees should also be reminded that they may be able to access additional support such as Working for Families, accommodation supplements, emergency benefits and the Community Services Card.
Government expected to introduce significant employment law changes
The National-led Government is expected to introduce a large Employment Relations reform bill as early as April 2013. It is predicted to include a number of previously signaled changes. The key provisions for the retail grocery sector are likely to be:
Useful guide to the responsible display of lads magazines
There are a growing number of lads magazines which have covers containing imagery that many people would regard as inappropriate for children to see. These mens interest magazine are often raunchy but not pornographic. Members who sell them need to be careful to display the magazines responsibly and appropriately.
The British Association of Convenience Stores (ACS) has published a guide for retailers on how to display lads magazines. The document provides common sense, practical and simple suggestions on best practice and responsible display. NARGON endorses this guide and suggests that all members who sell magazines with raunchy covers study it to ensure their shelving and display policies are the best they can be.
The guide can be accessed on-line by clicking here.
UK: Mixed signals on plain packaging
The UK government is poised to introduce legislation to bring in plain tobacco packaging, according to areport on The Guardian website. Quoting a senior Whitehall source, The Guardian said the legislation will be announced in the Queens Speech in May, along with an expected ban on smoking in cars carrying anyone who is under 16 years of age.
However, tobacco company JTI and smokers lobby group Forest say the Coalition government has made no decisions about plain tobacco packaging. They quoted recent comments from the Prime Minister David Cameron and Health officials that the Government had an open mind on the issue and was considering all the submissions. JTI suggested the story had been planted by supporters of plain packaging to put pressure on the Government. Their statement said those who wish to close down the debate on plain packaging appear to be using the media to pressure the government into making a decision on a policy despite there being no credible evidence that it will have any public health benefit.
UK: Horse meat scandal hits supermarket sales
What has now become known as Europe'shorsemeatscandal erupted in January 2013 when routine testing in Ireland revealed that some beef products also contained horse and pig DNA. Horse meat was being used as a cheap substitute for beef somewhere in the supply chain. Although horse meat is not medically harmful it is a delicacy in some countries customers were understandably disappointed and horrified that it was secretly in their beef.
The scandal quickly spread across Europe, involving a number of well-known brands and high-profile supermarkets. In response, there have been product withdrawals, increased testing and government investigations into the region's complex food-processing chains. However, as recently as 15 March supermarket giant Tesco was forced to withdraw a meatloaf product after it tested positive for between 2% and 5% horse meat.
Despite the vast majority of tests coming back clear, customers are clearly still concerned and sales of supermarket frozen meals - the main culprits in the scandal - have plummeted. Instead of customers buying something different in the supermarket, independent butchers and fishmongers are reporting dramatically increased trade. Fish shop owners say recent sales have increased by up to 20 percent as families reject processed foods after horse DNA was discovered in ready-made meals, burgers and meatballs.
This means that even supermarkets which never stocked adulterated products are likely to be affected by the scandal. Events in Europe stress the need for stores to have confidence in their suppliers and the integrity of the food chain which brings products to their shelves.
Reminder about written employment agreements
NARGON reminds all members that full written employment agreements are required for every single employee. This is a strict legal requirement. The member's section of the NARGON website contains draft agreements and advice on employment agreements www.nargon.co.nz.
Answers to 3 Questions
1. Darien Fenton (Labour MP - List).
2. Horse meat (Horse DNA).
3. Decreased 5.4%.


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United States (US) based Apple has registered record sales in India during the July-September quarter, driven by a renewed India-specific strategy adopted by the company and pent-up demand for its devices, reports Business Standard.
Apple's chief executive officer (CEO) Tim Cook attributed a part of the company's robust sales in India to the strong reception received by the launch of its online store in the nation in the July-September quarter.
Though Cook did not reveal the exact sales numbers, as per analyst firm Canalys, the company sold around 8,00,000 iPhones in the said quarter, registering double-digit growth.
Furthermore, as per Counterpoint Research, Apple also dethroned Chinese OnePlus from the top spot in the premium smartphone segment in the Indian market, despite not having launched any new iPhones in the said quarter.
This comes as the company had adopted a new India strategy about two years ago, under which the company began to bring down the prices of newer iPhone models like iPhone XR and iPhone 11 by assembling them locally and opening its online store recently.
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Crucial Technology has added a high-performance memory lineup, called Ballistix, to their memory offerings.
At this years Ultimate LAN held at the Texas Gaming Festival in Dallas, February 25th to 27th, ATI will show off the world's first 512MB video card.
Velocity Micro has moved its NoteMagix L80x Ultra into select Best Buy stores, chock full of Core 2 Duo goodness and Nvidia graphics.
The normally sane folks at Dell have thrown price out the window to bring us the company's latest gaming rig.
They're back! Commodore Gaming has announced plans to launch four gaming PCs in the U.S., marking the return of one of computing's original brands.
Storage developer SanDisk has filed patent infringement lawsuits against 25 companies who make, import, and sell flash storage and portable music players.
The XPS 630 will serve as Dell's mid-range gaming PC, although a wealth of customizing options will gives builders plenty of flexibility in what it can perform.
Dell's latest gaming machine packs quad-core processors, multiple GPUs, and water-cooling systems into one flashy aluminum box.
The finest HP's gaming division has to offer will soon drop its Web exclusivity and show up at retail stores for in-person manhandling.
The new Pico D is the smallest drive in Suoer Talent's already micro-sized line at just 1.4 inches long, thanks to chip-on-board technology.
Crucial's announcment of new high-performance RAM sends a message that they realize the importance of gaming and overclocking in the marketplace - and their competitors better look out.
PC makers are coming on strong in the gaming community with compelling new products and the battle between the PC and game console is heating up.
The ABS E2 Media Center PC will fit in well with your existing home theater components.
Full of features and adaptable to almost all your video graphics, the ATI All-In-Wonder Radeon 9800 Pro pushes ATI to the top of the video card food chain.
- Pros: Excellent multimedia capabilities, great for gaming
- Cons: High price
The Tek Panel 300 is a high-performance all-in-one computer or HTPC integrated into a 30-inch widescreen LCD. This just might be the ultimate gaming machine.
- Pros: All-in-one design, high-end components, large display, c...
- Cons: Might be hard to find a good location for it, no-name RA...


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The recent Klarna Oasis pop-up working experience showcased mission-driven models from Klarna’s roster of service provider companions. While BNPL corporations do not commonly run bodily retail ordeals, the hosted house on Los Angeles’ Melrose Avenue, open up July 23-24, supported conscious buying (and its Fork out in 4 checkout choice) as it introduced products from trend, splendor and components brand names which includes:
- Rebecca Minkoff
- Christy Dawn
- Kjaer Weis
- Westman Atelier
- Pepper and
- The Detox Market place.
In addition to the chance to acquire from intent-driven brands, buyers could donate their carefully made use of shoes and outfits as a result of a partnership with Soles4Souls in trade for an on-website price reduction.
On July 23, Klarna Oasis hosted a sustainability-concentrated hearth chat with speakers speaking about the importance of regenerative agriculture to encourage a greener trend marketplace. Speakers involved Raji Behal, Worldwide Head of Spouse Good results at Klarna Aras Baskauskas, Co-Founder and CEO of Christy Dawn and Jasmyne Spencer, experienced soccer player at Angel Town Football Club, of which Klarna is a founding spouse.
“We’re thrilled to convey the sleek Klarna purchasing practical experience to daily life for the very first time in Los Angeles, spotlighting mission driven merchant companions that support a vary of vital will cause from sustainability in trend to clean natural beauty,” explained Behal in a statement. “At Klarna, we comprehend we have a duty to aid drive beneficial improve towards a superior upcoming, and offering our shoppers one of a kind accessibility to store additional mindfully is just just one of the a lot of means we are doing work to make a change.”


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USALLIANCE Financial and Lumin Digital partner for enhanced digital banking services
By Edlyn Cardoza
Lumin Digital has announced a new multi-year partnership with New York-based USALLIANCE Financial supporting an enhanced online-banking experience for USALLIANCE’s more than 140,000 members and more than $2.5 billion in assets.
“USALLIANCE is committed to equipping its members with the right digital tools to create financial success and pursue their dreams, and Lumin Digital is committed to that same mission,” said Lisa Daniels, Chief Delivery Officer of Lumin Digital. “Our cloud-native platform will provide its members with the excellent digital products and financial offerings they demand, whenever and wherever life takes them.”
Aimed to launch at USALLIANCE in July 2023, Lumin’s cloud-based online and mobile digital banking platform will deliver enhanced safety and security features and seamless digital integration. This will support USALLIANCE’s ability to create customised experiences through personalised recommendations like spending insights, financial advice, savings goals, and fraud alerts. Lumin will also enable USALLIANCE to provide users with real-time updates and features that simplify everyday banking.
“USALLIANCE is hyper-focused on providing excellent member experiences with our products and services. We have always concentrated on our digital offerings, and as we look to the future, an enhanced digital experience is in the best interest of our members,” said Kris VanBeek, President and CEO of USALLIANCE Financial. “Lumin Digital will provide our members with sophisticated digital tools to help them financially thrive, while providing the security they expect during every transaction with USALLIANCE.”
IBSi Daily News Analysis
May 31, 2023
Deepfakes and generative AI trigger more online identity verification in FSRead More
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One of Wales’ most important industries is its tourism sector, with millions of tourists coming from the rest of the UK to enjoy the country’s beautiful landscape, food, culture and people.
However, as nationwide lockdown has imposed travel restrictions, meaning nobody can make non-essential journeys, this has had a big impact on the country’s tourist industry.
With the sun shining and half-term in full swing, this should be a profitable time for campsites, hotels, BnBs, restaurants, cafes, visitor centres and tourist attractions in Wales. However, they remain empty, as the government tries to control the spread of coronavirus.
It is unclear when these facilities will be allowed to open again, with the government suggesting this could happen in England from the beginning of July. However, there is no confirmation about Welsh sites will be allowed to relaunch at the same time.
When it comes to camping, there could be some leeway as Deputy Chief Medical Officer Professor Jonathan Van-Tam told a Downing Street press briefing recently: “It is absolutely a biological truism that outdoor environments are much less risk than indoor environments.”
Therefore, campsites might be allowed to open earlier than hotels, guesthouses or BnBs. However, he noted that “sharing a tent is a small enclosed space or can be a small enclosed space with generally poor conditions of ventilation”, which could encourage the virus to spread.
It is unsurprising those working in the tourist industry want answers, as official figures show there were more than ten million overnight trips to Wales by GB residents in 2018 and 95.7 million day trips taken. Overall, overnight holidaymakers spent £1,853 million during this period, while day-trippers spent £4 billion, proving just how important tourism is to the Welsh economy.
Do you want to be a featured business on our blog? Get in touch with us via email with Blog Post as your subject line. Don’t forget to include some photos as well!


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Samsung is working on the Galaxy Tab S4 which will be a successor of the Galaxy Tab S3. The device has already been surfacing in various leaks and rumours for a while now. Recently we came across the colour variants of the Galaxy Tab S4 and now the latest leak reveals the battery capacity of the Galaxy Tab S4.
As per the tweet of SamsungMobile.News, the Samsung Galaxy Tab S4 will come with 10.5-inch WQXGA display with 2560 x 1600 resolution, 13-megapixel rear camera and an 8-megapixel front camera and 7300mAh battery.
Galaxy Tab S4:
10,5″ WQXGA 2560×1600
Camera 13+8 MP
— SamsungMobile.News (@Samsung_News_) June 19, 2018
The Samsung Galaxy Tab S4 alongwith Gear S4 will not launch along with the Samsung Galaxy Note 9. Both the products will be launched following the Galaxy Note 9 announcement, and most likely during this year’s IFA event in Berlin starting August 31. The Samsung Galaxy Tab S4 will launch in Black and Grey colour options.
The tablet will run on Android 8.1 Oreo and Samsung Experience version 9.5. A recent report suggested that that the Galaxy Tab S4 will have an iris scanner, along with support for DeX, Samsung’s desktop platform. Samsung DeX is a docking system so that users can easily connect the device to a larger monitor, keyboard and mouse to expand the mobile experience with enhanced document editing or even full-screen gaming. The features are already available on Samsung’s most recent flagship devices, but the Tab S4 will be the first tablet of Samsung to come with these features.
As per earlier multiple reports, the Samsung Galaxy Tab S4 will feature a 10.5-inch QHD display with a resolution of 2,560 x 1,600 pixels and an aspect ratio of 8:5. It will have 4GB RAM and Qualcomm Snapdragon 835 1.90 GHz octa-core processor. The device will be based on the Android 8.1.0 Oreo operating system. It will have a 12-megapixel rear camera with flash and an 8-megapixel front camera.


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Get Us in Your Inbox
What:According to a survey from AAA, approximately 22 million Americans are planning a culinary-focused vacation in the next 12 months. Three out of four respondents say that food and dining are an important part of their travel experience.
Why It Matters:Ask anyone: Food travel is hot right now, which means this is the prime time for travel agents to craft a culinary vacation that will leave clients salivating for more. And, according to AAA, agents report that one of the top mistakes travelers make when arranging a trip abroad is not planning meals and activities in advance — which means that you’re in the perfect position to demonstrate your expertise. Dig in!
Fast Facts: - Eighty-eight percent of millennials having taken part in food-related experiences while on vacation, outpacing members of Generation X and baby boomers.
- Forty-three percent of AAA travel agents report a recent increase in the number of members planning culinary-focused vacations, with most planning these trips to Italy, France and Spain.
- Travelers spent an average of $63 per person, per day on food and dining purchases during their last vacation, according to Bryan Shilling, managing director of Travel Products and Services for AAA.
- The report’s findings are culled from a telephone survey of 1,013 adults living in the continental U.S., as well as from an online survey of AAA/CAA travel executives.
What They Are Saying: “There is no better way to learn about a destination and immerse yourself in the local culture than by experiencing its unique food and dining customs,” Shilling said. “When planning a culinary vacation, seek the advice of a trusted travel advisor, who can help customize a trip that matches the individual traveler’s dining preferences.”


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Moving a business forward quickly, creatively and successfully in an ever-shifting marketplace can make or break even the most seasoned business leader.
Houston, TX (PRWEB) May 15, 2012
Blinds.com (http://www.blinds.com), the world’s largest online window covering store, announced that CEO Jay Steinfeld has been selected to be a featured panelist at the upcoming Inc. and Comcast Business Class event ‘Act at the Speed of Opportunity’ in Houston, TX.
The networking event also features keynote Dan Heath, New York Times Best-Selling author of Switch and Made to Stick, and Larry Lawson, President and CEO of eCardio Diagnostics LLC.
“Change is one of the most challenging, but necessary, components of guiding an organization to profitable growth,” Steinfeld said. "Moving a business forward quickly, creatively and successfully in an ever-shifting marketplace can make or break even the most seasoned business leader. It's a welcome challenge that I look forward to sharing and receiving some insight on."
Steinfeld is no stranger to sharing actionable ideas and his own personal business experiences with other thought leaders. His regular leadership column on Inc., the ‘Chief Effective Officer’, garners hundreds of online shares and comments.
The ‘Act at the Speed of Opportunity’ event takes place on May 17th, 2012 at the JW Marriot from 8 a.m. to noon. Attendees will enjoy a keynote presentation and participate in a lively Q&A session on the topic of successful business development and knowing when and how to embrace change at all corporate levels.
Blinds.com (http://www.Blinds.com), owned by Global Custom Commerce, is the largest online window covering store in America, covering over a million windows a year since 1996. Today, Blinds.com is ranked No. 215 on the prestigious Internet Retailer 500 list. With a cutting edge online ordering system and ‘The Window Shopper’ augmented reality shopping iPhone app, Blinds.com makes ordering custom blinds, shades, shutters and draperies a no brainer with huge savings and selection. Blinds.com offers installation videos, award winning customer service and a SureFit Guarantee to make buying blinds online surprisingly easy and stress-free. Go online to http://www.Blinds.com to shop or call 1-800-505-1905 to speak to one of 100+ blinds experts.


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Facebook has announced that it’s bringing some new additions to its Stories feature to gauge more audience. Just two weeks back the company announced at its annual developer conference F8 that WhatsApp has hit 450 million daily active users.
“People around the world are using Stories to keep up with their friends throughout the day. We've been talking to our community to understand how people want to use Stories, so we can give them the tools to create and connect in meaningful ways,” said Facebook.
And here’s the cooler news, the new features will be launched in India before the rest of the world in the coming weeks.
Save Photos and Videos
With this feature users will now have the ability to save photos and videos that you click through the Facebook camera app. These photos will not be saved on the users’ phones but will only be accessible on their Facebook account.
According to the company this allows people to save the photos and videos they capture without taking up space on their phone. This feature also allows users to save photos and share them later. This should be quite useful if you have a botchy connection.
For the ones who are camera shy, Facebook is bringing voice posts. As the name suggests, this feature allows you to share a moment without having to share a photo or video. The length of the voice posts will be limited to 20 seconds and just like regular story posts, they will disappear after 24 hours. We can only assume that we are going to see a lot of bathroom singers.
According to Facebook, for some people photos and text are not the most effective way to communicate. Voice posts give people a new medium through which to express themselves.
Just like Instagram, users will now be able to archive their stories and view them even after they disappear from their stories tab. At any point of time, users will be able to view them at a later time and even reshare them.
These new features will be coming to the Facebook app on Android in the coming weeks. There is no confirmation as to when it will arrive on iOS, but the company has said it is working on bringing the experience on the iPhone soon.


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Shares of Alibaba fell by 5.5% in Hong Kong to a record low on Thursday as other Chinese stocks fell on a fresh round of market draft rules, Bloomberg reports.
- Tencent Holdings closed down 3.4%, erasing prior gains, while food-delivery firm Meituan plunged by 7.2%. Didi Global Inc. fell 6.5%.
- The fall in stocks pushed the Hang Seng Tech Index down 2.9%, after declining to its lowest level since July 2020.
- The fall in Chinese stocks happened after the government said it is studying proposals to compel online companies to protect the rights of drivers.
- Beijing also hinted at stepping up its oversight over the live streaming industry.
- Investor sentiments on Chinese stocks were also fueled by Tencent’s warnings of the industry to expect more regulations, including how companies use data for advertising.
- The recent moves by Beijing have caused investor worries, with some questioning allocations into Chinese assets.
Crackdowns on the tech sector by Beijing in recent weeks have erased about $1 trillion of market value on Chinese shares listed globally.
The Hang Seng Index is down -2.13%, USDCNY is up +0.01%.


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Vin Paolozzi probably expect to be launching a new marketing data engine on the cusp of a global pandemic that has put half the world’s consumers in lockdown. But that’s what he got.
Chief amongst that work is connecting.
In this video interview with Beet.TV, Paolozzi says Kinesso, which is powered by Acxiom after IPG acquired the company, exists to help brands deploy their customer data for advertiser targeting.
“As (IPG) went through that (Acxiom) integration process, I think we started to see that there was this gap in the industry between sort of the back office, mar-tech of understanding client consumer CRM data sets to the front end office of ad-tech and connections into things like addressable buying platforms or ‘How do you connect the dots between the two?’,” Paolozzi says.
“With that gap, we decided to launch Kinesso to really focus on building this application layer of connecting the dots from the back-office CRM datasets or our client’s first-party data back into the media world. We’ve been focused on connecting the dots between those two things.”
As the advertising world looks beyond cookie-based targeting and beyond the world of audience targeting, many marketers are starting to focus less on precision-targeting unknown users and more on targeting users known to their own in-house databases.
Vinesso thinks there is potential in “connecting the dots” between that and publisher’s own first-party data about their consumers. So he says Kinesso has been “working with publishers” to connect their data to the data Kinesso has available from Acxion.
“As we’ve transformed into this world of one to one addressable audience buying, we’re starting to think of how the two worlds come together,” he explains. “The combination of the two is can be really powerful.
“You might be finding niche audiences that are within those environments that have a different way of wanting to be spoken to or ways to be messaged to. The combination becomes extremely powerful with having two together at the same time.”
In times of crisis
Kinesso is comprised of IPG’s addressable activation team Cadreon and its Data and Technology group. Kinesso will work with IPG Mediabrands, Acxiom and will provide services to agencies across the IPG network.
It expected to have a staff of 1,400 in more than 70 countries this year.
Paolozzi says the current pandemic is causing travel advertisers to attempt “trying to figure out their approach for the rest of the year”, whilst quick-service restaurants are having to recalibrate after moving to delivery-only.
“And so there’s a constant change and challenge of the complexities of ‘How do you work within that environment?,” he says.
“With all challenge comes opportunity for innovation and new ways of thinking where technology can help support how to create more efficiency across your business.”
In this #Viewpoints piece, find out why Mark Donatelli, SVP Global Client Solutions, believes that identity is a spectrum and adopting a people-first approach to identity produces the best results // https://t.co/8vAiGcokSc pic.twitter.com/cUEvzolpRZ
— Kinesso (@kinesso) April 9, 2020
This video is part of a Beet.TV series titled “Audience, in Context,” presented by Xandr. For more videos please visit this page.


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Frequently Asked Questions
Why Offset with Forests?
According to the National Academy of Science reforestation is the most readily deployable and scalable technology currently available to fight climate change.
Further, SGS Global stated in a 2015 report that up to 15 billion tons of CO2 could be sequestered by report 800–900 million hectares of cleared agricultural lands to forests. This is roughly 20% of the world’s agricultural lands. If brought to scale Reforestation and Improved Forest Management could achieve 10%–40% of the annual net CO2 emissions reductions required by 2030.
Finally, beyond sequestering climate endangering CO2 the positive impact of forests is exponential. Forests clean the water, provide habitat that ensures species richness, create jobs, and provide a mecca for recreation and relaxation.
“The best time to plant a tree is twenty years ago. The second best time is now.”
Why enable micro-transactions for my business?
Empowering customers and clients to drive stewardship of the Earth with their business transactions creates an opportunity for business to also demonstrate commitment to protect the health of the Earth and its people. It also creates an opportunity for businesses to set themselves apart from the competition by recognizing the growing demand on the part of consumers and business clients for greener commerce.
A report published by the National Academy of Sciences found that there is “...significant untapped potential for firms to reduce the climate impact of their product chains and improve customer satisfaction at very lower or even negative cost. “
According to Nielson nearly75% of millenials are willing to pay more for sustainable offerings, up from 50% in 2014.
“Brands that establish a reputation for environmental stewardship among today’s youngest consumers have an opportunity to not only grow market share but build loyalty among the power-spending Millennials of tomorrow, too,” says Grace Farraj, SVP, Public Development & Sustainability, Nielsen.
Beginning with the 2016 reporting cycle the CDP will require businesses to report Scope 3 emissions in order to be eligible for their highest rating. Creating the opportunity to offset the carbon footprint of business activities as they occur will make meeting that requirement significantly easier for reporting companies.
Will implementing this program be expensive?
Our platform is designed to flexibly interface with your existing business software. As it allows for the cost of the offset to be passed on to your customers, on an opt-in basis, the cost of the offset does not have to be yours. You will also have a great new channel for marketing and PR that will work to increase your customer base and sales revenue.


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International trade aspirations
UK businesses have long looked beyond our shores for growth. We are, at heart, a trading nation with entrepreneurial business leaders with international horizons.
Yet those international trading aspirations have been sorely challenged over the past decade. Political leaders around the world have looked more to domestic agendas, the UK left the European Union, the COVID pandemic all but shut international boarders for two years resulting in constrained supply chains and rising costs. And then the conflict in Ukraine has seen costs increase further, driving high inflation and, for many, a cost of living crisis. A period of low growth threatens.
It might be reasonable to expect the international aspirations of UK businesses to be dimmed.
But, as the findings from our Global Britain? research to be published in September 2022 will suggest, British businesses are more international in their outlook – the number of businesses that told our survey they are trading internationally has increased by 10% since 2020.
Despite these challenges, the large majority of businesses hold international trade in great importance, as the chart below illustrates. Over half say their view of trading internationally is more important as a result of recent events.
As a result of the following, has your view on the importance of exporting / trading internationally increased or decreased?
|Increased a lot||27%||25%|
|Increased a little||30%||27%|
|Remained about the same||30%||32%|
|Decreased a little||9%||13%|
|Decreased a lot||3%||4%|
Yet actions speak louder than aspirations, and 81% of business leaders participating in our survey told us they trade internationally, compared to 71% in 2020. Of the 19% that don’t already trade internationally, 38% are currently planning to, with 43% likely to consider expanding overseas in the next three years.
Whilst Europe remains the largest trading partner and will continue to be our most important international market, UK businesses have much wider aspirations, and those aspirations have changed markedly over the last three years.
Government policy has looked to reshape the trading relationships UK businesses have around the world and politicians can take some comfort from our survey results. However, it should be noted that trade with the EU significantly outweighs trade elsewhere and the government should take every step possible to make UK-EU trade as seamless as possible.
Which international markets do you see as your priority for growth in the next 12 months?
|Europe (outside UK)||71%||58%|
For those businesses looking to take that first step, Kreston Reeves offers the following advice.
Understand your market
It may sound obvious but take an objective step back and ascertain whether there is a market for your product or service. Look to competitors and the products or services they offer, and ask whether your own product or service will be well received.
How will you access that market
Business owners are often obsessive about their business, they care, they want to know what’s going on and overseas expansion will add further pressures. International expansion is typically achieved through a distributor or agent, or an international footprint. Building trust will be vitally important when you might be many thousands of miles and different time zones away.
In addition to asking whether your product or service meets the legal or regulatory requirements, a business should also ask whether the taxes and tariffs will make it a profitable venture.
If your business is considering trading internationally or expanding overseas, our Global team at Kreston Reeves can help. We’re also a member of Kreston Global which is an international accountancy network, with access to advice and colleagues in over 120 countries. If you would like to discuss your options or would like further information, please get in touch.
To receive your copy of the Global Britain? report, subscribe to ‘International business issues’ here.
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During the E3 keynote, Sony briefly noted that they wanted to expand the PSN's "universal ID," and we asked Yoshida if that expansion could hit the PSP. We asked if using the same PSN ID from the PS3 can access a universal Friends list on the PSP. His response? "That's the plan."
Already, implementing the PLAYSTATION Store directly on the PSP is in the works. It won't be too long before we see even more features of the PS3 popping up on the PSP: Friends lists, messaging and who knows what else ... trophies, perhaps? Stay tuned in the coming days for the full itnerview.


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Any time a crypto holder buys or sells a cryptocurrency in a financial year, or even swaps one crypto for another, this must be reported to the Australian Tax Office (ATO). The same goes for non-fungible tokens (NFTs).
This means that we crypto people need to start keeping records, ready to be handed to the ATO at the end of every financial year.
Not everyone in Australia even understands that crypto holders are supposed to report their crypto trades and swaps to the ATO. In fact, according to a new survey by crypto tax software company Koinly, 15% (or almost 1 in 7) people surveyed who held crypto were clueless that it was even a thing to report their activities to the ATO.
Another interesting info nugget was that even though many crypto holders know that they are required to report their crypto activity to the ATO, they simply just don’t do it.
The ATO emphasises record-keeping as being important but it’s not always easy to produce the extensive evidence required for crypto when it comes to tax.
Crypto tax software
Koinly recently did a deal with Australian crypto exchange Swyftx so Swyftx users can keep records automatically. The deal means that Swyftx users will get access to Koinly’s crypto tax reporting platform. Users can then generate tax reports directly from Swyftx accounts. This will be free for up to 500 transactions.
The Treasury will be happy too. COO at Swyftx, Jason Titman, said that Bitcoin’s price jump in the 2022-2023 financial year will lead to the Treasury scoring a crypto tax windfall. “A significant proportion of crypto traders make hundreds of investments over the financial year and a lot of our active traders since January will have realised capital gains. Keeping track of multiple trades can be daunting, but it’s enormously important crypto users don’t bury their heads in the sand.”
Women and crypto
Lads, catch up. Australian women aged 18-24 own more crypto than you. The survey mentioned above has also shown that Australian women aged between 18 and 24 are more likely to be holding cryptocurrencies than Aussie men.
While the women don’t dominate in the same way across the rest of the demographic categories, it is an interesting statistical breakout.
The survey also showed that cryptocurrency is a lot more popular than most people would think. In fact, 31.6% of Australians currency hold crypto or have held cryptocurrencies in the past some time. That is nearly one in three of us. So if you are in a throuple, then chances are good that one of you can pay for snacks on your Bitcoin Island holiday.
Tax and crypto holders
Who in Australia is most likely to hold cryptocurrency? Millennials (aged 25-44). 57% of them hold crypto, more than any other demographic. This is probably because they love to spend their disposable income, being the biggest spending generation. They value experiences and lifestyle, so the crypto culture is apparently in!
NFTs and investor sentiment
According to a separate survey by Koinly, Australians who bought NFTs owned an average of 97 non-fungible tokens. 97 seems like a lot!
The rise and fall of non-fungible tokens (NFTs) have gotten a lot of coverage in the media recently. These unique digital assets have sparked excitement and controversy. Many people lost money on NFTs when the market crashed in 2021, and according to the survey, 100% of people who sold their NFTs did so at a loss for tax reasons.
‘Tax loss harvesting’ is a strategy used by investors to reduce their tax liabilities. That is, NFT buyers sold their NFTs at a loss, and used these losses to reduce the amount of taxes they have to pay on their overall investment profits.
Of those Australians still holding their NFTs, they said they don’t plan on selling them any time soon. And, half of these people plan to buy more NFTs in the future. The main driver of this purchasing decision is around how useful an NFT is to them. For example, some NFT tickets to concerts also have ‘extra benefits’ like access to VIP areas.


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After a heated bidding contest, the U.S. Postal Service has awarded its credit and debit card processing business to NationsBank Corp. and its subcontractor, the banking industry's biggest merchant processing rival.
The winning bid from the North Carolina superregional and Nabanco of Fort Lauderdale, Fla., was $45.8 million over three years, with five one- year extension options.
The companies will now undertake the largest merchant processing installation ever - 50,000 card-accepting terminals in 33,000 post offices nationwide.
Industry observers said the task is so vast that it made sense for two of the top 10 acquirers of MasterCard and Visa transactions to join forces. But eyebrows were raised by the involvement of Nabanco, formally National Bancard Corp., which will only enhance its stature as the biggest in the business.
Nabanco, a subsidiary of Atlanta-based First Financial Management Corp., reported $74 billion in transaction volume for 1994.
The postal contract "is good news for Nabanco," Frederick A. White, a principal of First Annapolis Consulting in Maryland. "But it's not surprising. Nabanco is the largest merchant card processor, and it was one of the most aggressive bidders for this contract.
"The contract sets a precedent for government agencies, especially local governments, to accept card payments," Mr. White added, pointing out that bidding for government service "is more difficult and painful than what most vendors are used to."
The successful bid may also be a jumping-off point for Nabanco and its affiliates to get more government work. First Financial also owns Telecheck Services, a check guarantee company; Microbilt, a maker of point of sale equipment; and Western Union Financial Services.
Although the Postal Service would not identify the unsuccessful bidders, it was widely assumed that they included Nabanco's two top rivals, Card Establishment Services Inc. and National City Processing Co., as well as First Tennessee National Corp. and First Bank System of Minneapolis.
National Data Corp. of Atlanta held the transaction-processing contract for a 15-month test in post offices in the Dallas, Orlando, and Washington areas.
NationsBank teamed up with Nabanco because "we thought the values of our combined organizations were what it would take to win the contract," said O.B. Rawls, a senior vice president in NationsBank's merchant division.
Mr. Rawls cited NationsBank's longstanding relationship as a provider of banking services to the federal government. For example, the Charlotte- based bank is a member of the Treasury's lockbox network and was selected late last year to help the government develop and launch its electronic tax-payment system.
The contract price, value, and ability to get the job done played big roles in the decision to choose NationsBank and Nabanco, said Stephen M. Kearney, treasurer of the Postal Service.
"Our evaluation committee had to be sure that the contract went to bidders who were capable of carrying out one of the largest card terminal installations ever," he said.
Installation of the point of sale hardware will begin in Seattle, San Diego, and Denver in April. After two years, when the full rollout is expected to be completed, the Postal Service will be the nation's largest accepter of credit and debit cards.
The $45.8 million contract includes all equipment, training, and fees pegged to volume estimates based on test-site results. The dollar amount could change depending on actual nationwide volume, said a Postal Service spokesman.
Consumers spend about $10 billion a year at post offices. A Postal Service survey indicated that 25% of its customers would use credit or debit cards for purchases.
Under the terms of the contract, Nabanco will provide all processing services for card transactions throughout the United States and its territories. NationsBank will provide relationship management and banking services. The partners will also provide support services such as training.
In a press release, Nabanco said it "is now positioned to be the preeminent services provider to the government sector." While a Nabanco spokesman said the statement was not intended to be a predictor of the future, others say Nabanco may well have an inside track for other government contracts.
This perceived advantage, said merchant processing consultants, is especially important as more government entities are both investigating and initiating card payment options.


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Bluboo X550 owners asked to keep an eye on the next OTA
If you have a Bluboo X550 in your hands then keep an eye on your notifications as an OTA update is on the way.
Oukitel U8 receives OTA update to improve fingerprint scanning and more
The Oukitel U8 is a new smartphone from China that doesn’t cost much and has a fingerprint sensor. The phone got its first OTA earlier today.
Elephone P7000 OTA rolling out
Elephone are rolling out an update for the Elephone P7000 which brings optimisations and fixes to the flagship phone.
Ulefone Be Pro gets Android 5.0 Lollipop but not an OTA
Ulefone have announced that a stable build of Android 5.0 Lollipop has been released for the Ulefone Be Pro.
OnePlus cleared of all trials in India, Cyanogen OS OTAs to seed problem free
After more than 5 months of trial, it has been announced that the OnePlus One would continue receiving Cyanogen OS updates in India hassle free!
JiaYu S3 will receive Lollipop after all
A Lollipop update for the awesome JiaYu S3 is indeed on the cards!
Lenovo Vibe Z2 Pro is getting the Android Lollipop OTA in India
The Lenovo Vibe Z2 Pro is now receiving the critical update to Android Lollipop in India.
Blackview to bring OTA to phones, Lollipop coming soon
Blackview have announced that they will be bring OTA updates to their phones and launching Lollipop for some models too.
OnePlus One users in India will get CM12S OTA after all
We just learnt that users of the OnePlus One in India will be getting the OTA to CyanogenMod 12S after all.
MIUI 6 seeding to the Redmi Note 4G in India
MIUI 6 for the Redmi Note 4G is reportedly being seeded to owners of the device in India.
OnePlus One Lollipop ROM now out, just in time for 2014
Android Lollipop for the OnePlus One is finally out, but there’s a catch!
Elephone OTA updates coming, and Lollipop will come ASAP
Elephone announce some updates to their services and mention that Android 5.0 Lollipop will be available as soon as possible.


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PARAMUS, N.J. (1010 WINS) – Rapper 50 Cent rented out an entire Toys ‘R’ Us store in New Jersey so his 7-year-old son could have a private Christmas shopping spree.
"When I asked my Dad for the 'WHOLE Toys R Us Store' for Christmas I didn't think he would actually do it, but he did," Sire Jackson wrote on Instagram. "Thank you Daddy! Best Christmas Ever!"
Sire’s mom, Daphne Joy, posted photos and videos of the shopping spree at Westfield Garden State Plaza in Paramus to the boy's Instagram.
"Christmas came early for Sire lol," she wrote.
The store even had a floor decal reading “Sire's Toys R Us” that included a caricature of the boy.
According to E! Online, the shopping extravaganza cost 50 Cent, whose real name is Curtis Jackson, $100,000.
Sire ended up picking out LEGO sets, a NERF blaster and a small plush Geoffrey the Giraffe.
The store is one of only two Toys 'R' Us stores currently open under new ownership after the company filed for bankruptcy last year.


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Intel Corp. is planning major layoffs, possibly in the thousands, to cut costs and fight the personal computer market, according to people familiar with the situation.
The layoffs will be announced later this month, as the company plans to report third-quarter earnings on Oct. 27 to make the move, said the people, who asked not to be identified because the deliberations are private. . The chip manufacturer had 113,700 employees in July.
Some divisions, including Intel’s sales and marketing group, could see cuts to about 20 percent of their workforce, according to people familiar with the situation.
Intel faces a sharp decline in demand for PC processors, its core business, and has struggled to regain market share lost to rivals such as Advanced Micro Devices Inc. In July, the company warned that 2022 sales would be about $11 trillion lower than last year. it was expected. Analysts predict a drop in revenue of nearly 20 percent in the third quarter. And Intel’s once-enviable margins have shrunk: about 15 percentage points tighter than historical numbers of around 60 percent.
In its second quarter earnings call, Intel acknowledged that it may make changes to its business to improve earnings. “We are also reducing core expenses in calendar year 2022 and will look to take additional actions in the second half of the year,” CEO Pat Gelsinger said at the time.
Intel, based in Santa Clara, California, declined to comment on the layoffs.
Intel’s last big round of layoffs came in 2016, when it cut about 12,000 jobs, or 11 percent of the total. The company has since made smaller cuts and shuttered several divisions, including its cellular modem and drone units. Like many companies in the technology industry, Intel froze hiring earlier this year as market conditions worsened and fears of a recession grew.
Gelsinger took over at Intel last year and has been working to restore the company’s reputation as a Silicon Valley legend. But even before the computer crashed, it was an uphill battle. Intel lost its long-held technological edge, and its executives admit that the company’s culture of innovation dried up in recent years.
Now a broader downturn is adding to those challenges. Intel’s PC, data center and artificial intelligence teams are grappling with a slowdown in technology spending on revenue and profit.
PC sales fell 15 percent in the third quarter from a year earlier, according to IDC. HP Inc., Dell Technologies Inc. and Lenovo Group Ltd., both in laptops and desktops that use Intel processors, saw sharp declines.
This is a particularly awkward time for Intel to make cuts. The company lobbied heavily for the $52 trillion chip stimulus bill earlier this year, and pledged to expand its manufacturing in the US. Gelsinger is planning a construction boom that includes bringing the world’s largest chipmaking site to Ohio.
At the same time, the company is under intense pressure from investors to protect its earnings. The company’s stock is down more than 50 percent in 2022, with a 20 percent drop in the past month alone.
With China, the US has clouded the future of the chip. The Biden administration announced new export restrictions on Friday, limiting what US technology companies can sell to the Asian nation.
David Zinsner, Intel’s chief financial officer, said after the company’s latest quarterly report that “there are significant opportunities for Intel to improve and deliver maximum output per dollar.” The chipmaker expected to see restructuring charges in the third quarter, he said, indicating that there were cuts.
Some chip makers, such as Nvidia Corp. and Micron Technology Inc. including, have said that they are staying away from layoffs for now. But other technology companies, such as Oracle Corp. and Arm Ltd., are already cutting jobs.


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Cut the Rope
- Video Games
- Current Status
- In Season
Om Nom is back to celebrate the candy-hungry monster’s fifth birthday with a brand-new game and updates to his older adventures.
ZeptoLab has announced that Cut the Rope: Magic will arrive this December, offering, as the title suggests, a magical twist to the familiar Cut the Rope gameplay. The game will come to both iOS and Android. And to celebrate the original game’s fifth anniversary, the current Cut the Rope games will give players in-game gifts.
“Over the past five years, we have been discovering Om Nom and his story, not only for our audience’s sake, but for our own as well. And we still have many interesting questions we intend to answer for our players,” ZeptoLab founder and Cut the Rope designer Semyon Voinov said in a statement.
There have been two previous main Cut the Rope titles in addition to several offshoots, and Om Nom’s journeys will hit the big screen with a planned movie release in 2016.


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Latest news and speeches
The European Guarantee Fund (EGF), part of the €540 billion EU recovery package agreed in 2020, has approved funding amounting to almost half its target for 2021. After clearance under the EU state aid notification process in December 2020, the initiative has now approved €11.7 billion in support of European businesses struggling with the economic fallout of the COVID-19 pandemic. This is almost half the fund’s target for 2021. The fund mobilises additional financing, and initiatives financed so far are expected to generate €93.9 billion in funding for the EU economy. With €2.1 billion in financing also signed at the end of April, EGF funding is already reaching businesses across the European Union.
The European Investment Bank (EIB) and the Croatian Bank for Reconstruction and Development (HBOR) today signed an agreement to help HBOR to set up its own advisory services and enhance its capacity to support investments in key sectors of the Croatian economy, such as the environment, resource efficiency, the circular economy, smart cities and social infrastructure.


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Home Tags Honda
The next-generation Honda City is likely to launch in India sometime during the first half of 2020. Could offer an automatic gearbox in diesel trim.
The next-generation Honda Jazz will be revealed globally at the upcoming Tokyo Motor Show 2019. India launch expected around late 2020 or early 2021.
Honda has filed a patent for the Crider sedan in India. Does this mean that the next-generation Honda City could take its inspiration from the same?
The 2019 Honda Civic was launched in India this month. It's prices fall in-between the range of INR 17.70 lakh to INR 21 lakh (ex-showroom).
2019 Honda Jazz / New Honda Jazz / Prices / Engine Specifications / Interiors Review / Exterior Review / Mileage / Features / Colours / Variants
Honda is going to launch several new products in the Indian market soon, these will include the ones with hybrid as well as electric powertrain as well.
Starting January 2020, Honda Cars India will start upgrading its entire model line-up from the current BS-IV engines to BS-VI complaint units.
The bookings for the Honda Civic, according to the carmaker has exceeded the 2-month sales achieved by the entire d-segment of sedans.
The 2019 Honda Civic was launched in India today. Here is a detailed specification based comparison between the Civic and its immediate competition.
Honda Civic 2019 / Price in India / Engine Specifications / Mileage / Dimensions / Features / Safety Features / Variants /...


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Bitcoin was the talk of the town in 2017 of course, but most of the financial sector is still not on board, meaning they have not gained commissions on the cryptocurrency. As more and more of the millennial generation worldwide is a staunch believer in cryptocurrency investing, there is, of course, a belief amongst financial analysts that a lot of money can be made from that. In that case, there are two roads you can take as a financial behemoth: believe in it and ride the hype or state to the central banks’ creed that it will ultimately turn to ruin.
Morgan Stanley analyst James Faucette has shown his hand by saying in a Christmas note to clients discussing the future investments of 2018 that the ‘real price of bitcoin might be $0.’
Just as many central bankers around the world, Mr. Faucette is not particularly impressed by the blockchain’s best-known currency, and stated that “If nobody accepts the technology for payment then the value would be 0.”
Already in September of this year, Morgan Stanley CEO Mr. James Dimon stated Bitcoin was, in fact, a ‘fraud’ and that he would ‘fire any analyst that traded in it.’
Morgan Stanley’s theory is based on that fact that though everybody by now knows Bitcoin, very few retailers are ready to accept it, and since the wild ride Bitcoin has had over the past few weeks, the number of retailers willing to accept this form of payment is in fact shrinking.
Mr. Jeremy Cheah, a Professor of Finance at the Southampton Business School, mostly agrees with this assessment: “At the moment, my personal assessment of the Bitcoin market is that it is largely driven by irrational exuberance given its recent launch on Chicago Board Operations Exchange that has piqued the interest of many investors not usually attracted to or exposed to investing in cryptocurrencies.”


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The CPI inflation in September stood at 2.1% y/y, Statistics Estonia reported. The indicator moderated notably compared to 2.9% y/y and 3.4% y/y seen in August and July, respectively. In m/m terms, the change of the consumer price index was -0.3% in September.
To remind, average consumer price increase for 2012 overall stood at 3.9% y/y, while in 2011 average inflation was 5%, in 2010 average inflation was 3% vs. 0.1% deflation in 2009 and 10.4% inflation in 2008.
Consumer price inflation in September was as usual influenced the most by electricity and food, accounting for 60% and 30% of the overall y/y increase of the index. After deregulation of the electricity market as of January 2013 electricity prices have been constantly high (31.2% y/y in September). Goods became 1.4% y/y more expensive in September and services 3.2% y/y more expensive. Regulated prices of goods and services declined by 1% y/y and non-regulated went up by 3.1% y/y.
The Bank of Estonia commented that September marked the lowest y/y inflation rate in three years. Preliminary estimates show the same price dynamics in the Eurozone, largely due to a fall in the energy prices. At the same time the CB notes that higher price growth of services is a sign of rapid wage rise having inflationary pressure. However, the CB reiterated its 3% average HCPI forecast for 2013 (revised downwards in June from previous 3.6%).
Previously the CB was concerned that improved outlook on external growth in H2/13 might raise the prices of imported raw materials. Domestically higher labor costs in H1/13 could pressure prices upwards, especially through services. August’s and September’s data did not confirm these concerns strongly.
The European Central Bank (ECB) President Mario Draghi said on March 8 that the Eurozone’s central bank will seek clarity on what role the Latvian central bank governor Ilmars Rimsevics has ... more
Estonia's financial regulator will investigate Danske Bank over allegations made by the Danish and UK media that the bank’s branch in Estonia was involved in money laundering, the regulator ... more
The Latvian authorities will meet on February 26 to discuss dangers that may ensue from the failure of the country’s third-largest bank ABLV, the Baltic state’s prime minister said on February ... more


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The Lincolnshire Daffodil Association’s annual show is on April 12 and 13 at Springfields Events Centre, writes Richard Barlow.
Richard says that both keen amateurs and professional growers can enter the judged competition classes and adds the show “deserves much support”.
He says: “With the SHE show no longer being held, this is a worthwhile alternative to display the many different varieties of daffodils grown in the county.”
The show is an historic one, first being held in 1902, and only moving to Spalding in 2012.
There are competition classes, a photography competition, floral art classes, plant sales as well as crafts and trade displays.
The presentation of cups will be carried out on Saturday, April 12 by the society’s president, Lady Bruce-Gardyne.
Entry is £2, accompanied children under 16 free. Visit www.lincsdaffodil.co.uk


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The American arm of Taiwanese-based Windows and Android smartphone and tablet maker HTC has settled charges with the Federal Trade Commission (FTC) that it failed to secure its device software, which left potentially millions of customers vulnerable to information theft.
The FTC alleged that HTC "failed to provide its engineering staff with adequate security training, failed to review or test the software on its mobile devices for potential security vulnerabilities, failed to follow well-known and commonly accepted secure coding practices, and failed to establish a process for receiving and addressing vulnerability reports from third parties," according to a news release on Friday.
The FTC contended that HTC's devices contained a number of vulnerabilities that could have allowed attackers to send text messages, record audio or install data-stealing malware, affecting millions of users. One well publicized incident occurred in October 2011, when HTC confirmed that its Android phones contained a major vulnerability that could be exploited by a third-party to steal personal information from users. Another, last February, involved some HTC mobile devices containing a software bug that could enable miscreants to steal a user's Wi-Fi credentials and network name.
The agency also called out the "insecure implementation" of two pieces of diagnostic and monitoring software – Carrier IQ and HTC Loggers – deemed threats by some security researchers because end-users were not made aware of the applications' behaviors and weren't given the opportunity to opt-out.
In addition, HTC America was accused by the FTC of creating user manuals that contained deceptive wording.
The settlement (PDF) with HTC America requires the company distribute fixes for any outstanding vulnerabilities, as well as establish a "comprehensive security program" and submit to security audits every other year for 20 years. Further, HTC America is barred from "making any false or misleading statements about the security and privacy of consumers' data on HTC devices."
An HTC America spokesperson did not immediately reply to a request for comment.
UPDATE: HTC has released a statement: "Privacy and security are important, and we are committed to improving practices that help safeguard our customers' devices and data. Working with our carrier partners, we have addressed the identified security vulnerabilities on the majority of devices in the U.S. released after December 2010. We're working to roll out the remaining software updates now and recommend customers download them once available."


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Chancellor Rishi Sunak delivered his Autumn Budget announcement in parliament today to outline government spending and plans for the future.
In the Budget, Rishi Sunak set out measures to support the recovery of the UK economy following what has been a difficult year for many families and businesses.
Although it was announced prior to the Budget, the Chancellor today confirmed that the National Living Wage will increase to £9.50 per hour for workers over the age of 23, from April 2022.
For a full-time worker, this will see an annual pay increase of over £1,000.
What key tax changes were announced?
- Reform of tax relief for R&D investments to include cloud computing and data costs
- Universal Credit taper rate lowered from 63% to 55% alongside the workers allowance increasing to £500
- Vehicle excise duty (VED) for HGVs will be frozen until April 2023
- £1m annual investment allowance extended to March 2023
- Business rates will remain at the same rate however, businesses in the retail, hospitality, and leisure sectors including, pubs, venues, cinemas, restaurants, hotels, theatres, and gyms will all receive 50% business rates discount
- Corporation tax on banks will increase from 27% to 28% in 2023
- The 30-day capital gains tax window for residential property owners has been extended to 60 days
- Residential Property Developer tax announced from April 2022 at 4% on profits exceeding an annual allowance of £25m
- Lower rate of air passenger duty from April 2023 for flights between England, Scotland Wales and Northern Ireland
- Air passenger duty ultra long haul band will be added for flights over 5,500 miles with an economy rate of £91
- Planned fuel duty increase will be cancelled
- Tonnage tax (shipping) reform will reward companies for adopting UK merchant shipping flag (red Ensign)
- The planned increase in alcohol duty will be cancelled. Stronger alcohol will be taxed more and the 15 main duty rates will be reduced to 6
- Sparkling wines will pay the same duty as still wines of equivalent strength. Duty will also be reduced for fruit cider.
- Small cidermakers and others making alcoholic drinks of less than 8.5% ABV will benefit from the small brewers’ relief
For more information on how these tax changes may affect you or your business, feel free to contact us.
Call us on 01704 891676
Email us at email@example.com
Send us a message via our contact page


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Minnesota health plans post $241 million profit, amass $1.9B surplus
Minnesota HMOs generated $241 million in profits in 2012 and have collectively amassed $1.9 billion in surplus funding, according to a report released Monday.
Health plans' combined profits were up slightly from about $230 million in 2011.
Bloomington-based HealthPartners Inc. retained its status as the Minnesota's most profitable HMO, according to the report, compiled by independent Twin Cities health care analyst Allan Baumgarten. The health plan has generated nearly $128 million in operating income over the past two years through its employer products alone.
Health plans are legally required to maintain surplus funding, but Minnesota's HMOs now have $1.3 billion more on hand than regulations require.
Minnesota's largest plans have applied to sell coverage on the state-run health insurance exchange set to launch in October. Neither the plans nor the state have released details about the plans. However, Baumgarten said after interviews with health plans, he expects many insurers will focus on products that keep costs low by limiting the range of health providers members can visit. Health plans aren't using common terms for such plans, such as narrow network, instead referring to them as partnerships with providers, Baumgarten said.
Katharine Grayson covers med tech, clean tech, technology, health care and venture capital.
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A popular Johnshaven art emporium, has launched a series of workshops to teach people how to produce a variety of crafts.
Starfish Studio, which was opened by artist Kate MacKenzie in 2009, sells only affordable, British handmade goods with the emphasis on local products.
Kate said: “Our studio workshop space has been a welcome addition to Starfish. We are delighted to have harnessed such expert tuition to lead the classes which include bead embroidery, knitting, felting and decoupage.
“A few workshops have already taken place and participants had a lot of fun as well as being able to take home the piece that they had made and customers have enjoyed seeing the works in progress.”
The next 2014 workshop will focus on bead weaving; ‘Making a flat, spiral bracelet’ will take place tomorrow (Friday) from 10.30am - 1-30pm.
The class will be led by well known Deeside bead artist, Carol Paris of Torphins. Carol’s bead weaving has been featured in Making Jewellery, Bead and Beads and Beyond magazines. This is followed by a ‘Learn to knit’ workshop on February 28 with passionate knitter, Janice Anderson.
All classes, from crochet to straw work and jewellery making, take place at Starfish Studio in Johnshaven and range from two-hour sessions to all day workshops.
Workshops are being added regularly.
Interested parties, whether as tutors or participants, should check www.starfishstudio.co.uk for further details.


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Qualcomm reported a very solid June quarter despite the stranglehold COVID-19 had on much of the world during the period. Two key items came out of Qualcomm’s earning call. First, the company stands by its forecast of 175 million to 225 million 5G smartphone shipments in 2020. In fact, Qualcomm added some confidence in that guidance, stating it expected smartphones to be at the high-end of that range. Much of the help came from strong 5G sales in China Counterpoint has written extensively on.
The second key announcement was of Qualcomm agreeing to a long-term licensing agreement with Huawei. Qualcomm will be paid $1.8 billion for back payments through June 2020. While Qualcomm EVP of QTL, Alex Rogers, stated the terms are confidential, the pact appears to be in broad agreement with current Qualcomm licensing terms. Qualcomm has no material volumes with Huawei selling chips due to US policy and Huawei having in-house hardware solutions. However, it is important because Huawei is still selling significant smartphone volumes in China even as volumes are tumbling in the rest of the world. Qualcomm will receive licensing payments on past and future device sales.
Other key takeaways from the quarter:
- Qualcomm guided to 145 million-165 million shipments during the September quarter. This is despite a delay in a key 5G flagship launch (probably Apple). OEMs usually buy chips two months before launch, so some will fall from the September quarter into the December quarter.
- The strong quarter is evidence smartphone markets are coming back – especially mature markets.
- The low-end of the market was impacted by COVID-19 more harshly. This hurt overall volumes but helped Qualcomm’s mix, ASPs and gross margins. A large portion of these sales were postponed but could come back, which should help recently announced 5G 600-series.
- Qualcomm added 15 new 5G licensees. There are almost 300 smartphones using 5G Snapdragons, and Qualcomm now supports every major handset OEM.
- RF front-end is now a major contributor for Qualcomm, registering about $750 million in revenue. Qualcomm expects its RF front-end market share to grow to 20%. Modem to antenna at the system level has tremendous integration and time-to-market benefits.
- Automotive remains an infotainment story with a pipeline of $7 billion. ADAS solutions remain ‘down the road’. Opportunities but certainly many challenges remain before significant automotive OEM announcements. COVID-19 has likely negatively impacted some work.
- COVID-19 has accelerated 5G hotspots, Wi-Fi and CPE sectors. Look for the fixed-wireless access market to be more competitive late in 2020.
- Other growth opportunities for Qualcomm:
- As vivo, OPPO and Xiaomi grow outside China, there is an opportunity for Qualcomm to gain share. It helps that Qualcomm is already supporting all major global operators with 5G.
- mmWave: Qualcomm is currently the only solution supporting global 5G in handsets. Others will certainly bring solutions, but Qualcomm does have a head start and will have a few generations under its belt. Rollouts of mmWave continue in the US and Japan, with China, South Korea, Russia, Finland, Italy and others expected to join by 2021.
- 5G edge compute applications: With prowess in low-power and high performance, this is a large opportunity for Qualcomm as 5G becomes more mainstream and unique cases increase.


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Mobile World Congress (MWC) is one of the most significant technology events worldwide, gathering tech companies from different corners of the world to showcase their latest products and innovations. In 2023, the event was held in Barcelona, Spain, and the world’s major smartphone makers were in attendance. These companies used the platform to introduce their new products, services, and technology, hoping to attract customers and create a buzz in the industry.
In this article, we will be exploring the major smartphone brands and innovations that were showcased at MWC 2023, as well as the future of smartphone technology.
What is MWC 2023?
MWC 2023 is a global event where major technology companies gather to showcase their latest products, services, and innovations. The event typically takes place in Barcelona, Spain, and is attended by thousands of people from around the world.
MWC 2023 provided an opportunity for smartphone makers to showcase their latest technology and innovations, which they hope will shape the future of the industry. From foldable smartphones to 5G networks, smartphone makers were keen to demonstrate their capabilities and provide a glimpse into the future of the industry.
Major Smartphone Brands at MWC 2023:
- Samsung: Samsung is one of the world’s leading smartphone brands and has been a major player in the industry for years. At MWC 2023, Samsung unveiled its latest innovation – the Samsung Galaxy Fold 3. The phone is a foldable smartphone that allows users to enjoy a large screen experience in a compact form factor. The Galaxy Fold 3 also features a new camera system and 5G connectivity, making it one of the most advanced smartphones on the market.
- Apple: Apple, the maker of the iPhone, was not officially present at MWC 2023. However, the company’s absence did not stop people from talking about the brand. Many industry experts speculated about the company’s future plans, with rumors suggesting that Apple may be working on a foldable iPhone.
- Google: Google was also present at MWC 2023, showcasing its latest offerings, including the Pixel 7 and Pixel 7 XL. The phones feature improved cameras, longer battery life, and 5G connectivity. Google also showcased its latest AI technology, which has been integrated into its new phones.
- Xiaomi: Xiaomi, a Chinese smartphone maker, also made an appearance at MWC 2023. The company showcased its latest innovation, the Xiaomi Mi Mix 4. The phone features a full-screen display, 5G connectivity, and a new camera system that promises to deliver high-quality images.
Trends and Innovations at MWC 2023:
- Foldable Smartphones: Foldable smartphones were a significant trend at MWC 2023. Samsung’s Galaxy Fold 3 was the most talked-about device at the event, but other companies, such as Xiaomi, also showcased their foldable smartphones.
- 5G Connectivity: 5G connectivity was another significant trend at MWC 2023. Many smartphones showcased at the event featured 5G connectivity, promising faster download speeds and better connectivity.
- AI Technology: AI technology was integrated into many of the smartphones showcased at MWC 2023. Companies such as Google showcased their latest AI technology, which promises to deliver a more personalized experience to users.
The Future of Smartphone Technology
Smartphone makers are focused on creating new and innovative products that offer better features and improved functionality. One of the most exciting developments in the industry is the rise of foldable smartphones. These devices allow users to enjoy a large screen experience while still maintaining a compact form factor.
In addition, smartphone makers are also focused on improving the connectivity and speed of their devices. 5G connectivity promises to revolutionize the way we use our smartphones, offering faster download and upload speeds and improved connectivity.
Artificial Intelligence (AI) is also set to play a significant role in the future of smartphone technology. Smartphone makers are integrating AI technology into their devices to deliver a more personalized and intelligent experience to users. This includes features such as voice assistants, personalized recommendations, and facial recognition.
Overall, the future of smartphone technology is exciting and filled with possibilities. Smartphone makers are constantly pushing the boundaries of what is possible, and consumers can look forward to a new era of innovation and functionality.
MWC 2023 was a significant event for smartphone makers, providing an opportunity for them to showcase their latest products and innovations. The event highlighted some of the major trends in the industry, including foldable smartphones, 5G connectivity, and AI technology. The future of smartphone technology is exciting and filled with possibilities, and consumers can look forward to a new era of innovation and functionality.
Q: What was the most talked-about device at MWC 2023?
A: Samsung’s Galaxy Fold 3 was the most talked-about device at MWC 2023.
Q: Did Apple make an appearance at MWC 2023?
A: No, Apple did not officially make an appearance at MWC 2023, but many people speculated about the company’s future plans.
Q: What were some of the major trends at MWC 2023?
A: Foldable smartphones, 5G connectivity, and AI technology were some of the major trends at MWC 2023.


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Fake reviews in ACCC’s sightsPUBLISHED: 26 Mar 2013 00:05:35 | UPDATED: 26 Mar 2013 05:57:19PUBLISHED: 26 Mar 2013 PRINT EDITION: 26 Mar 2013
Companies that buy fake reviews to endorse their products or dismiss those of their competitors can expect greater scrutiny from the consumer watchdog, which has stepped up its warnings that consumers must question the integrity of online information.
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Watch the announcement of the Vivo V23 series live:
The company announced that it was launching the V23e and V23e 5G last year, and today the brand plans to launch two new models in its lineup, the Vivo V23 and Vivo V23 Pro.
The phones will be unveiled during an event in India starting at noon local time (6:30 AM UTC). You can stream it live with us by joining the stream here. The most notable feature of the Vivo V23 set is the change in color of the fluorite AG glass on the back panel. Which changes color when exposed to UV rays from artificial or natural rays. This feature makes it unique in India. However, it is only available to those who are buying the V23’s Sunshine Gold color model, and the V23 Pro will have a changeable color Fluorite AG Glass back panel.


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Besides the reported growth of cranberries this year in Peru, Gestión has selected other 10 products that have developed high agro-export potential in the country.
“A report prepared by Macroconsult highlights the potential of five products: organic bananas, cocoa, tangerines, mango and ginger”, Gestión explained, adding that they could be the “boom” of the future.
The Association of Exporters (Adex) agreed with this report, and they added five more that grow mainly in the mountains: walnut, pecan, kion, chia and pomegranate.
In the case of mountain products, Carlos González, director of the Center for Research in Economics and Global Business (CIEN) of Adex, said that the challenge to develop its potential is to improve processes to generate higher quality production, aligned with international certifications and standards.
“There is an improvement in working with the communities to generate a culture of quality production, where local governments can also contribute a lot,” González added.
This year the main crops were grapes, avocados, coffee, blueberries, asparagus, mangoes and bananas.


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Poland's shadow economy to grow to 18.9 percent this year - report
The grey economy's share in Poland's GDP is expected to increase to 18.9 percent in 2022, from 18.3 percent in 2021, according to Poland's Institute of Forecasts and Economic Analyses (IPAG).
IPAG estimates that the total value of the shadow economy in Poland will reach PLN 590 billion (EUR 126.4 billion) in 2022," IPAG said.
In absolute terms, the informal economy will grow by PLN 79 billion (EUR 16.94 billion) this year, the researchers wrote.
According IPAG, the ongoing Russia's war on Ukraine remains a significant factor of uncertainty and may additionally boost the grey economy to 19.4 percent.
"The war will further increase the costs of doing business, which will further encourage enterprises to look for savings in the shadow economy." IPAG said.
In 2017-2020, the average share of the grey economy in Poland was 18.0 percent, according to the report.


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3 Hot Tech Shares To Observe Now For Your Very long-Tern Portfolio
As the broader inventory industry appears to be cooling off from the the latest operate, tech stocks are once yet again taking centre phase. For the most aspect, this would be many thanks to many key variables now. First of all, traders had been at first spooked from Tuesday’s customer price tag inflation surge as it registered the fastest annual maximize considering the fact that 2008. Subsequently, Federal Reserve Chair Jerome Powell weighed in on the matter expressing that inflation “will most likely stay elevated in coming months right before moderating“. Powell also highlighted that the U.S. financial state is “however a techniques off” towards recovering, prolonging a roll-back again of the Fed’s asset buys. Aside from that, it appears that coronavirus cases are on the increase at the time once more in the U.S. and Latin The us. Just yesterday, Earth Wellness Group (WHO) officials warned of a lot more contagious variants possibly placing the area at threat now.
For more recent investors, you may possibly be wondering, what does all this have to do with tech shares? Properly, for starters, businesses in the tech space would likely proceed to reward from the Fed’s disaster-period monetary insurance policies. On top of that, the possible of an additional wave of coronavirus situations could see the return of 2020’s prime pandemic winners. The likes of which consist of tech shares this sort of as Zoom (NASDAQ: ZM) and Salesforce (NYSE: CRM). Accordingly, this would be the situation should organizations revert to length working protocols and lockdown mandates return.
At the identical time, the tech market remains a single that focuses on growth. Just yesterday, tech giant Microsoft (NASDAQ: MSFT) released Home windows 365 for organizations. By this company, enterprises can grant employees access to digital cloud-primarily based PCs that operate Microsoft’s Windows running process. Owning stated all that, below are a few major tech stocks to think about in the stock marketplace right now.
Finest Tech Stocks To Invest in [Or Sell] This Thirty day period
Appropriate off the bat, we will be having a glimpse at the primary title in the customer tech planet now, Apple Inc. If anything, customers, and buyers alike would be more than acquainted with the company’s quality array of tech offerings now. That is of system many thanks to its current market-dominating iPhones to its selection of tablets and PCs. Supplied the cyclical mother nature of the buyer tech sector, Apple could keep suitable as very long as it retains supplying annual updates to its flagship choices. In reality, some would argue that the present-day pandemic puts Apple in a favorable position now.
Certainly, as most people were being trapped at residence, most discretionary investing went in the direction of generating stay-at-house experiences far better. For numerous individuals, Apple’s offerings filled that mould neatly. Now, to emphasize, this would profit the enterprise in the shorter and lengthy conditions in general. Accordingly, this is thanks to the interconnectivity amongst Apple’s products and solutions. By making items that seamlessly get the job done and join with 1 a different, the enterprise more incentivizes customers to continue to be inside of its ecosystem. Evidently, buyers look to realize this as well seeing as AAPL stock is presently up by in excess of 150% because its pandemic period very low.
Despite its current momentum, Apple carries on to bolster its functions. Before this week, Bloomberg described that the business is ramping up its production initiatives. In accordance to the posting, Apple is looking to speed up the manufacturing amount of its following-era iPhones by 20%. This would be a strategic play by the organization offered the recent buzz around the 5G upgrade cycle all all around. Specified all of this, would you look at AAPL stock a prime acquire for you now?
Supply: TD Ameritrade TOS
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Adhering to that, we have social media titan Facebook Inc. When it arrives to social networking, most would generally believe of Fb and its a variety of divisions now. Notably, the enterprise also operates the widely applied Instagram and WhatsApp digital connectivity platforms. For a feeling of scale, the business described acquiring over 2.72 billion daily energetic customers throughout its portfolio of applications in its very first-quarter fiscal back in April. On that notice, the firm also posted sizeable gains across the board in its earnings report for the first quarter. In it, Facebook raked in whole profits of $26.17 billion, marking a 47% 12 months-more than-12 months raise. More than the very same interval, the corporation also observed surges of 93% in web cash flow and 92% in earnings for each share.
Offered the scale and present-day development level of Facebook’s functions, I could see buyers eyeing FB inventory now. With the company’s shares hunting at year-to-day gains of in excess of 29%, could it however have space to operate? For a person factor, Fb does not seem to be to have ideas of slowing down at any time shortly. As of yesterday, the enterprise is arranging to pay out out $1 billion through 2022 to material creators on Fb and Instagram. According to CEO Mark Zuckerberg, this go serves to bring in a lot more written content creators to the system. In flip, it will, preferably, boost active user figures.
On major of that, the enterprise is also seeking to bolster its e-commerce division as perfectly. As of this 7 days, Facebook is organizing to introduce its Fb Pay test-out companies to third-social gathering internet websites setting up in August. This would be the rational up coming step subsequent its recent collaboration with Shopify (NYSE: Shop). With Fb seemingly firing on all cylinders now, will you be including FB inventory to your portfolio?
Supply: TD Ameritrade TOS
Verizon Communications Inc.
A further name to know in the tech house now would be Verizon Communications Inc. Related to our initial entry, Verizon would stand to benefit from the existing 5G customer developments now. Namely, this is because Verizon is one of the key players in the telecommunications market now. The New York-based mostly business is now the 2nd-most significant wi-fi carrier in the U.S. in terms of network size. Guaranteed, some tech businesses would get a boost from deteriorating pandemic circumstances, when others would gain from the reopening trade. Irrespective, Verizon’s choices would even now keep on being relevant, in particular its subsequent-gen 5G solutions.
With all this in intellect, it would make sense then that VZ stock could be on tech investors’ radars now. Whilst the company’s shares may perhaps be generally investing sideways this year-to-day, some buyers would see an option. Right after all, the firm appears to be steadily getting momentum on the money entrance. In its most up-to-date quarter fiscal, the corporation documented earnings for every share of $1.27 on complete revenue of $32.87 billion. Inspite of dealing with powerful competitors from its competition this 12 months, the business realized earnings growth across its a few core enterprise segments.
While all that is fantastic, Verizon also seems to be kicking into higher equipment on the operational entrance. As of this 7 days, the enterprise is now collaborating with foremost fintech organization, Mastercard (NYSE: MA). The duo is wanting to provide 5G-dependent contactless payment alternatives to shoppers and tiny-and-medium-sized enterprises (SMEs). In principle, this would allow SMEs to use rising payment tech, turning smartphones and smartwatches into payment units. With Verizon driving the current 5G tailwinds, will you be investing in VZ stock?
Supply: TD Ameritrade TOS
The views and viewpoints expressed herein are the sights and thoughts of the creator and do not always reflect individuals of Nasdaq, Inc.


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The UK’s much-revered financial regulator has come forward and announced a ban on the sale of crypto derivatives to retail consumers. Its charge against it is that the underlying assets have absolutely no reliable basis for valuation. Derivatives are tradable securities or contracts that derive their value from an underlying asset. They usually include investment products such as contracts for differences, options, and futures. In the case of cryptocurrency derivatives, the underlying asset is usually Bitcoin, Ripple, Ether, or any other cryptocurrency. And now the ban has shaken the belief in the UK that these assets have inherent value or are trusted sources of value generators.
The Financial Conduct Authority arrived at this critical decision after it consulted on the rules governing these financial instruments. The authority said that these products are “ill-suited for retail consumers due to the harm they pose”.
The financial watchdog specifically highlighted that the asset valuation is marred by volatility concerns. It has also left open the idea of market abuse and financial frauds including hacks and thefts. It stressed the fact that a great proportion of users do not have a proper understanding of the products which is an issue.
Sheldon Mills, the interim director of Strategy and competition at the FCA said;
“The ban reflects how seriously we view the potential harm to retail consumers in these products”. He said there was evidence of retail consumers suffering losses “on a significant scale”.
As for the ban, it will get into effect on January 6th, 2021, and will save retail investors about 53 million pounds a year in losses and fees as per FCA estimates. People have not taken well the news of the ban and a great majority of them are opposing the ban. Many even went on to explain that these underlying assets are filed with value and retail consumers are perfectly well-versed with judging the value of the same.
But FCA has maintained its stance and believes that they have no inherent value and prices are driven by speculation. In a recent survey conducted by the regulator, it was found that 47% of the users treated crypto assets as a gamble that could make or break them. More than one-fifth of the respondents acted on a fear of missing out. The survey results gave them the ground to argue that:
“This shows that the majority of retail clients are not investing in crypto assets for a legitimate investment need.”
Retail Investment advocates welcomed the move with Anthony Morrow, Chief executive of financial advisory Open Money, highlighting that the products were not covered by the Financial services compensation scheme.
“These products are complex, sophisticated investments that offer a real possibility of losing all your money very quickly,” he added.
Graham Bentley, managing director of investment marketing consultancy gbi2, believes that the word ‘market abuse’ holds important meaning. He said that the advertisements pertaining to crypto trading try to lure less-technical oriented users and it has really crossed the boundaries.
CoinShares, a manager of digital assets sounded very disappointed,
“We find it difficult to see how the UK can be seen as welcoming of digital asset innovation when it is the only western jurisdiction to ban [these assets] based on an erroneous belief that they have ‘no intrinsic value’,” it said.