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29 August 2013
Americas Tax Center Weekly Roundup
Latest news — Americas
Canada launches consultation on measures to prevent treaty shopping
On 12 August 2013, the Canadian Department of Finance released a consultation paper titled “Treaty shopping – the problem and possible solutions.” The paper notes that the government has been unsuccessful in attacking treaty shopping in the courts, including under the general anti-avoidance rule, which applies to misuses or abuses of Canada’s tax treaties, or the concept of “beneficial ownership.” The paper contemplates whether anti-treaty shopping rules should be contained in domestic law or in each of Canada’s many tax treaties. Any new measures regarding treaty shopping will likely impact both new and existing investment structures into Canada, and are likely to have a more significant impact on the private equity and resource sectors. A Tax Alert has details.
Online FATCA registration for US and foreign financial institutions – detailed Alert available
The opening of the FATCA online registration system is a key development for foreign financial institutions (FFIs), US financial institutions and other entities that will have registration, withholding, due diligence or reporting obligations under FATCA. The IRS's User Guide issued in conjunction with the system also clarifies certain issues, such as the fact that all FFIs are generally expected to register with the US Internal Revenue Service (except exempt beneficial owners or certain certified deemed compliant FFIs), and all FFIs are generally expected to appoint a responsible officer (including Model 1 FFIs) as part of this registration process. A detailed Tax Alert is now available.
US releases final cost sharing regulations
On 26 August 2013, the US Internal Revenue Service and Treasury issued final regulations on the determination of taxable income in cost-sharing arrangements. The regulations provide additional guidance on evaluating the results of an application of the Income Method, in which different discount rates are applied to the cost sharing and licensing alternatives. The temporary and proposed regulations were finalized without change. A Tax Alert has details.
EY global mergers & acquisitions reports cover power, tech and consumer products sectors
Three new EY global mergers & acquisitions quarterly reports are now available on the power, technology and consumer products sectors. Power transactions and trends charts the return of transformative transactions to the power sector, which saw deal values rising 30% from the first quarter. Global technology M&A update offers a mixed picture for the sector: a decline in total deal volumes, while private equity deal-making soared. Consumer Products Deals Quarterly: Activity levels miss expectations reports an unexpected second-quarter drop in sector deal activity.
EY Working Capital reports available on pharmaceutical and automotive industries
EY’s Working Capital group has released two new reports for the pharmaceutical and automotive sectors. Cash on the road reports that 2012 was another challenging year for the automotive supply industry, with sharply diverging trends in automotive production between regions, continuing pricing pressures from original equipment manufacturers, an ongoing shift in global demand toward rapid-growth markets, and volatility in commodity prices and exchange rates.
Cash on Prescription contains the results from our analysis of major pharmaceutical companies performance in 2012, reporting a further, albeit more modest, deterioration from the prior year, with cash-to-cash (C2C) increasing by 1%, after rising by 3% the year before.
This week's tax treaty news in the Americas
- Brazil and Luxembourg: social security treaty details available
- Colombia and El Salvador, Guatemala, Honduras: Colombia amends rate tables for implementation of free trade agreement with El Salvador, Guatemala and Honduras
- Mexico and Belgium: protocol to tax treaty signed
- Mexico and Belize: intention to negotiate tax treaty
- Mexico and Belize: intention to negotiate investment protection agreement
- Mexico and Guatemala: intention to negotiate tax treaty
- Mexico and Guatemala: free trade agreement between Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Nicaragua enters into force between Mexico and Guatemala
- Uruguay and Luxembourg: social security treaty details available
- US and Czech Republic: intention to negotiate protocol to social security treaty
This week’s Global Tax Alerts
- Mexican Tax Authority increases focus on auditing supply chain structures (28 August 2013)
- New Luxembourg-Saudi Arabia tax treaty published (27 August 2013)
- IRS releases final cost sharing regulations (27 August 2013)
- Australian Federal Court grants summary judgment against taxpayer in LILO financing structure based on GAAR (27 August 2013)
- Bangalore Tribunal rules on applicability of transfer pricing provisions to assignment of contract (26 August 2013)
- Panama approves Executive Decree regarding transfer pricing, attribution of income to permanent establishments, and tax residency (23 August 2013)
- IRS opens online FATCA registration system for financial institutions, issues related guidance (22 August 2013)
- Tanzania requires business licenses in place by 31 December 2013 (22 August 2013)
- Canadian Government proposes changes to foreign affiliate dumping rules (22 August 2013)
- Delhi Tribunal overturns transfer pricing adjustment for excess advertising expenses in the case of a distributor (21 August 2013)
- International Tax Talk quarterly series to discuss interest deductibility and related issues (10 September)
The deductibility of interest on borrowings has recently come under greater scrutiny in many countries and is seen as a cornerstone issue in the current base erosion and profit shifting (BEPS) debate. In this quarter’s International Tax Talk webcast, our Global Tax Desk team focuses on thin capitalization and the related debt/equity characterization issues that may arise under select foreign tax regimes in relation to related and non-related-party borrowings. The countries/regions to be discussed include: Germany, Benelux, India and China. Register here.
- Managing risk in the US and Canada – EY’s 2013 global transfer pricing survey (12 September)
EY’s 2013 global transfer pricing survey reveals companies are placing a higher priority on managing risk associated with transfer pricing in reaction to heightened scrutiny by tax authorities. In an upcoming webcast, an experienced panel of former government officials will discuss the survey results with a focus on the US and Canadian implications of: (1) the increased taxpayer focus on risk management, (2) how taxpayers implement and document their transfer pricing policies, (3) key trends in controversy concerns and (4) taxpayers’ experiences in resolving transfer pricing disputes. Register here.
EY industry, service and issue publications
Banking and Capital Markets
Government and Public Sector
- Citizen Today: delivering a digital future
Mining and Metals
- Riesgos comerciales en la industria minera y metalífera 2013 - 2014
M and M Business risks 2013 - 2014 Spanish translation


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|By Sarah Bridge, Financial Mail on Sunday, London|
Knight Ridder/Tribune Business News
Aug. 1, 2004 - Hotels group InterContinental is understood to be considering a UKpound 1 billion sale of its UK assets following the success of its disposal programme in America.
The group, which demerged from leisure giant Six Continents in April last year alongside pubs group Mitchells & Butlers, owns and manages more than 3,500 hotels across the globe.
These include the Holiday Inn, Holiday Inn Express and Crowne Plaza brands.
Since the demerger, InterContinental has already sold or put up for sale UKpound 1 billion worth of assets, mainly in North America. Twenty-eight hotels have already been sold, raising more than UKpound 320 million.
Financial Mail understands that the company is considering selling off almost all of its UK assets while continuing to manage or franchise the hotels. A similar strategy has been adopted by rival hotel groups including Marriot and Ramada Jarvis.
InterContinental has 200 properties in Britain and Ireland. About 90 are thought to be owned by the company.
It would not comment on any plans for the UK market. A spokesman said: "There will be an update on the progress of the asset disposals and potential of further disposals when our interim results are announced on September 9."
But the group is believed to be considering the sale of all its owned hotels except for the flagship building overlooking London's Hyde Park.
Worldwide, the company could end up owning just 20 hotels and managing or franchising the rest.
Announcing a wave of asset sales last month, chief executive Richard North said: "It is a further step in our strategy of reducing the capital intensity of the business and enhancing return on capital."
Money raised from the disposals so far is being returned to shareholders by a share buyback and InterContinental has purchased UKpound 138 million as part of the UKpound 250 million buyback programme.
The company is understood to be considering a special dividend if it is unable to return all the cash raised to shareholders through buybacks.
-----UKpound preceding a numeral refers to the United Kingdom's pound sterling.
To see more of the Financial Mail on Sunday, or to subscribe to the newspaper, go to http://www.financialmail.co.uk.
(c) 2004, Financial Mail on Sunday, London. Distributed by Knight Ridder/Tribune Business News. For information on republishing this content, contact us at (800) 661-2511 (U.S.), (213) 237-4914 (worldwide), fax (213) 237-6515, or e-mail firstname.lastname@example.org.

domain: news


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Circle, a leading player in the financial services sector, has recently unveiled a strategic alliance with Mercado Pago, the digital payment arm of Mercado Libre, aimed at facilitating access to the USDC stablecoin for Chilean clientele. This initiative is set to empower millions of Chilean users to gain access to USDC via the platform provided by Mercado Pago, utilizing it as a digital surrogate for the U.S. dollar for both transactional and savings needs.
Circle Makes Foray into Chile and Latin America Through Mercado Pago
Circle, responsible for the creation and management of the USDC stablecoin—a major stablecoin with a significant market capitalization—has entered into an agreement with Mercado Pago to extend the reach of USDC to consumers in Chile. As per an official announcement, this partnership paves the way for over 2 million users of Mercado Pago in Chile to acquire and employ USDC for various financial activities, including payments and asset preservation.
Matías Spagui, the Senior Director at Mercado Pago, elaborated on the significance of this collaboration for Chilean consumers, highlighting that the “U.S. dollar serves as one of the globe’s most stable monetary units and provides a straightforward mechanism for safeguarding wealth amidst prevailing uncertainties.” Spagui added:
By introducing this stablecoin, our aim is to broaden the scope of cryptocurrency access and present the excess of two million users of Mercado Pago with a dollar-pegged alternative.
Latin America and the Inclination Toward Digital Dollars
Jeremy Allaire, Circle’s co-founder and Chief Executive Officer, opines that Latin America will significantly contribute to the global uptake of digital dollars. He emphasized this point further in a comprehensive report titled “Latin America’s Affinity for Digital Finance and the Emerging Internet Epoch,” wherein Circle posits that the readiness of the region to adopt these novel technologies is also driven by a fundamental need—many communities in Latin America have limited access to traditional financial services.
Rachel Mayer, Circle’s Vice President of Product, and a co-author of the aforementioned report, expressed the view that Latin America is rapidly becoming a pivotal hub for stablecoin adoption, stating, “Latin America is metamorphosing into a nexus for digital economic activities, marked by burgeoning innovation and a robust appetite for digital dollars.”
Jeremy Allaire indicated that there are plans in the pipeline to expand this collaborative venture to additional markets. He noted that Mercado Pago plans to “initiate USDC support in strategically important markets, commencing with Chile.” Allaire had previously stated that a substantial majority—exceeding 70%—of USDC usage originates from regions outside of the United States, with a considerable portion being fueled by emerging markets.
Frequently Asked Questions (FAQs) about Circle-Mercado Pago Partnership
What companies are involved in this new partnership?
What is the primary objective of the Circle-Mercado Pago partnership?
The primary objective of this collaboration is to introduce the USDC stablecoin to Chilean customers. The initiative aims to provide millions of users in Chile with a digital representation of the U.S. dollar for transactional and savings purposes.
How many Mercado Pago users in Chile will be affected by this partnership?
According to the official announcement, more than 2 million users of Mercado Pago in Chile will have the opportunity to access and utilize the USDC stablecoin for various financial activities.
What are the comments from Matías Spagui, Senior Director of Mercado Pago, regarding this collaboration?
What does Jeremy Allaire, co-founder and CEO of Circle, think about Latin America’s role in digital dollar adoption?
Jeremy Allaire believes that Latin America will play a significant role in the global adoption of digital dollars. He further emphasized this point in a report where he stated that the readiness of Latin America to embrace these technologies is partially driven by a fundamental need, as many communities lack access to traditional financial services.
Are there any plans to expand this initiative beyond Chile?
Yes, Jeremy Allaire indicated that there are plans to expand this collaborative venture into additional strategic markets. Mercado Pago plans to initiate USDC support in other key markets, starting with Chile.
What percentage of USDC adoption is from outside the United States?
Jeremy Allaire has previously stated that more than 70% of USDC usage originates from regions outside of the United States, with a considerable portion being fueled by emerging markets.
More about Circle-Mercado Pago Partnership
- Circle’s Official Press Release
- Mercado Pago’s Announcement
- USDC Information
- Report: Latin America’s Affinity for Digital Finance and the Emerging Internet Epoch
- Mercado Libre Corporate Information
- Chilean Financial News Coverage
- Overview of Stablecoins
- Digital Payments in Latin America
- Financial Inclusion in Latin America


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Limtiaco creates business incubator program
Guam - Senator Mike Limtiaco has introduced bill which creates the made in Guam Business Incubator Program within the A.B. Won Pat Guam International Airport Authority. According to the Republican lawmaker the measure is designed to grow the local economy by giving access to our small businesses which make made in Guam products that bear the Guam Product Seal an opportunity to sell their products to the 1.3 million visitors that travel through the airport on an annual basis. Senator Limtiaco said he worked collaboratively with the Guam Economic Development Authority and the Guam Visitors Bureau as well as the airport on the bill. They were also present during this morning's press conference. The lawmaker anticipates the measure will raise up to $6 million in revenue. The Guam Visitors Bureau will fund $200,000 that will be available to small businesses to apply for up to $10,000 to start up their business.


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Littleton city council green-lights drafting of recreational pot ordinance
Author: Jennifer Kerns - April 13, 2016 - Updated: April 12, 2016
Proponents of recreational marijuana sales achieved a huge victory in Littleton this week when the city council agreed to draft an ordinance allowing retail sales within city limits, something which has been banned in Littleton since 2013 — even after Colorado voters authorized the substance with the passage of Amendment 64 in 2012.
The victory comes after months of discussion and debate, as well as an in-depth study which culminated in a special pot study committee overseen by the city council.
The momentum for allowing sales had increased in recent days as the Historic Downtown Littleton Merchants Association — the leading business organization in the city center — overwhelmingly voted 29 to 5 in support of lifting the city’s ban.
Currently four types of facilities are banned inside city limits according to code: retail stores, cultivation sites, manufacturing facilities and testing facilities. At issue is whether to allow retail stores and to leave the other sites for later discussion.
The proposed ordinance would finally permit retail sales of recreational pot but only in the four storefronts that currently exist for the sales of medical marijuana which were allowed by a previous state law. Littleton’s medical marijuana stores have been operating for a few years and have had no complaints, according to Chief of Police Doug Stephens.
The ordinance would allow current medical marijuana stores to either convert their existing medical marijuana shop to a recreational sales store or to service both medical and recrational marijuana, although they could only serve customers 21 years or older due to state recreational pot laws, which require that retail sales mirror the state’s alcohol age limit. Either that, or the facilities would have to have a separate door for medical marijuana patrons, who only have to be 18 years old to enter.
Some city council members such as Bill Hopping said that he had “agonized over” the decision to allow recreational pot sales, while others such as Mayor Pro Tem Debbie Brinkman said she had previously been “vehemently opposed” to the idea. But at the end of the evening, a city council that was previously sharply divided on the issue came together to problem-solve how to allow sales — and benefit from the tax revenue generated from it — while still protecting the city’s most vulnerable.
In order to meet that objective, the council members agreed in principal to fortify buffer zones around schools, daycare centers and public parks.
The council also brought in Stephens to address public safety concerns and to share the police department’s perspective on what the impact on recreational sales would be.
Stephens shared that in the few years since Colorado has allowed recreational pot use, the department has not seen an increase in marijuana-related issues or driving under the influence. He said while part of that can be attributed to the fact that Littleton has not sold recreational pot inside city limits, he pointed to bordering towns such as Englewood and Denver where people have been able to virtually drive next door to purchase it.
In addition, Stephens said that the existing medical marijuana stores in Littleton “have been responsible” and stated that the police department has “not experienced any problems with the folks here currently.”
This sentiment is mirrored by local business owner and president of the Historic Downtown Merchants Association, Greg Reinke, who has said that medical marijuana shop owners have been “model citizens in the community.”
The chief said the only remaining challenge is the fact that tools don’t yet exist to measure impairment while driving in the same manner that officers can measure alcohol-impaired drivers through breathalyzer tests in the field. But surprisingly, Littleton’s top cop said driving impairment rates have actually decreased — not the other way around — over the last few years since the passage Amendment 64.
Confronted with a preponderance of favorable evidence to safely allow recreational pot sales at the study session, the city council directed staff to begin drafting an ordinance for first reading at the next city council meeting.
It’s been a long, strange trip for the majority of Littleton residents, who supported Amendment 64 as well as two other measures — Amendment 20 to allow medical marijuana and Ballot Issue 2E to allow an additional tax on retail sales.
From a representative government standpoint, it appears that the city of Littleton is (finally) preparing to give the people want they want.


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The U.S. Department of Energy (DOE) won't provide $310 million in loans to Carbon Motors Corp. to produce the purpose-built E7 patrol car, the company announced.
"We are outraged by the actions of the DOE and it is clear that this was a political decision in a highly-charged, election year environment," said William Li, Carbon Motors' chairman and chief executive, in a statement. The company is "actively examining its strategic and financing alternatives."
Almost three years ago, Carbon Motors applied for the DOE funding under the Advanced Technology Vehicle Manufacturing (ATVM) program. The company also blamed the Solyndra loan controversy for the denial.
The company developed a prototype vehicle, took over a former Ford plant in Indiana, and began taking orders for the vehicle. The company says it has received about $200 million in private and public financing and has taken orders from more than 500 law enforcement agencies for more than 20,000 cars.
In December, the company appealed to the Obama administration to grant the loan approval. Other automakers, including Chrysler and General Motors, have been thwarted by the ATVM process.
Chrysler, in mid-February, withdrew its loan application and released a statement that it "remains confident in its strategy to bring competitive, fuel-efficient vehicles and technologies to market on schedule." General Motors partered with Bright Automotive to make extended-range plug-in utility vehicles. That company went out of business last month.
In a message on its website on Thursday, Carbon Motors' Li vowed to "continue the fight" to build the vehicle.
Carbon Motors Appeals To Obama Administration for Loan


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Austin-made 'Beautiful Mess' app is a hit
An Austin-made app for a popular lifestyle blog has so far been a success on Apple's App Store. The iPhone app, "A Beautiful Mess," based on the blog by Elsie Larson and Emma Chapman, was the number one paid app for iPhone and for iPad on the App Store when it launched in mid-May. It was also the 11th top-grossing app on the store for a brief period.
Currently, the app, which costs 99 cents, is number 13 in paid apps. It's a photo-sharing app that includes filters, doodling tools and the ability to share the photos on Instagram, Facebook and Twitter.
Austin studio Rocket Mobile made the app and managing partner Ian VanHolder said that creating an app that held to standards of the blog was a challenge, but said that Beautiful Mess had an eager audience waiting for something like the app.
"They wanted to take their voice and some of their design perspective and apply it to an app for their already attentive audience," VanHolder said. "It was a lot of fun working with them through the process."
Work on the app started about seven months ago and the goal was to create a fun app that complemented popular services like Instagram and not to duplicate existing photo apps. By last week, the app was still gaining traction on the Facebook-owned photo service: more than 105,000 photos were tagged on Instagram with the hashtag "#abeautifulmess."
VanHolder said that Rocket has never released such a successful consumer app before. "When you get it in that space, it’s very rare. There are so many apps available. It's pretty rare territory," he said.
More updates are planned for the app based on feedback from users and the bloggers at A Beautiful Mess have a photo idea book due out in August from Random House.


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This month’s column is very personal to me because it really represents an intersection of two of my professional career paths—retail and housing.
Before my role as CEO of the Santa Clara Association of Realtors, I spent nearly a decade working at the San Jose retail icon, Mel Cotton’s Sporting Goods. In 2005, I left as general manager to start my own retail establishment in downtown Campbell named Trailsloggers. In 2011, I closed my doors at Trailsloggers for good, recognizing that the retail market trends had changed drastically as more and more shoppers were turning to the information superhighway for their consumer needs.
Fast forward to 2020, along with the pandemic came forced closures of many small retailers due to shelter-in-place orders.
Despite the Small Business Administration providing COVID-19 relief options such as the Economic Injury Disaster Loan and the Paycheck Protection Program, only a fraction of small businesses would survive. The economic devastation was just simply more than most companies could withstand. Even regional retail giant Fry’s Electronics could not weather the storm, permanently shuttering all retail locations in early 2021.
Economic indicators in the commercial real estate market point to a rise in commercial vacancies and many shopping centers are predicted to remain empty for the foreseeable future. As with many trends sparked by COVID-19, the pandemic accelerated the rate of retail closures and a trend away from brick-and-mortar retail as consumers turned to e-commerce in greater numbers.
So what can we do with all this vacant space?
We can convert it to much-needed housing. This is a unique opportunity for the government to free up land for residential development by rezoning it to meet housing demands. According to Byron Carlock, who leads PwC’s U.S. Real Estate Practice, “If you think about it, all that retail real estate is not in trouble because of its location. It’s probably pretty well located to demographically attractive users, but there’s just too much of it.”
“So tearing down a 1950s or ’60s strip center and putting up a new mixed-use apartment building makes sense,” Carlock added.
These shopping centers have ample parking, are traditionally accessible by public transit and have the required infrastructure to support housing of all types. An example of this type of conversion can be found in Seattle, where developers are converting part of the 41-year-old Alderwood Mall into housing.
Commercial office space is also being reimagined as companies discovered throughout the pandemic that they could continue to deliver outstanding products and services while operating under a remote working environment. While the future is probably that of a flexible hybrid workforce as opposed to a pure remote workforce, the lasting effects on office space will be profound. According to a recent article in the Silicon Valley Business Journal, San Jose has over 38 million square feet of vacant office space. There may be a market for some of these older office buildings to be repurposed or redeveloped into housing if rezoning was allowed.
In Sacramento, officials are trying to do just that from a statewide perspective with the Neighborhood Homes Act.
“With the pandemic upending the office and retail property markets by encouraging remote working and more online shopping, these underutilized properties can be repurposed into new housing, which California desperately needs,” said Dave Walsh, president of the California Association of Realtors. “In fact, C.A.R. is supporting Senate Bill 6—introduced by state Senators Caballero, Eggman and Rubio—which aims to do exactly that.”
“And because many of these properties are located near transit, this bold approach will help create walkable new housing communities and decrease the need for parking, which reduces development costs and keeps the units more affordable,” Walsh said.
I understand local governments may be apprehensive about the loss of potential sales tax revenue, but we have to recognize the inevitable trend that brick-and-mortar retail and the office space market will continue to have downward pressure. We have to ask ourselves, “Is this the best use of our precious land?”
I believe the answer is a firm NO and that we have to find a way to navigate the messy entitlement and rezoning processes that stand as a barrier. We should not prioritize empty parking lots and vacant commercial space over housing. The housing crisis is real and we have an unprecedented opportunity to do something transformative, innovative and meaningful.
San José Spotlight columnist Neil Collins is CEO of the Santa Clara County Association of Realtors, a trade association representing more than 6,000 real estate professionals in Santa Clara County and surrounding areas. His column appears every fourth Thursday of the month. Contact Neil at [email protected] or follow @neilvcollins on Twitter.
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McAfee recently released its annual “12 Scams of Christmas” list to educate the public on the most common scams that criminals use during the holiday season to take advantage of consumers as they shop on their digital devices. Cyber criminals leverage these scams to steal personal information, earn fast cash, and spread malware.
This year, fall holiday shopping sales are expected to soar to an estimated $602 billion. E-commerce sales are predicted to rise 15 percent compared to last year’s digital sales to more than $60 billion, with m-commerce comprising 16 percent of this number. Consumers should ensure that they are taking all precautions to protect the data saved on their devices. This is especially true for the 51 percent of U.S. adults that bank online and 32 percent that use mobile banking.
“The potential for identity theft increases as consumers share personal information across multiple devices that are often under protected,” said Michelle Dennedy, vice president and chief privacy officer at McAfee. “Understanding criminals’ mindsets and being aware of how they try to take advantage of consumers can help ensure that we use our devices the way they were intended – to enhance our lives, not jeopardize them.”
To help consumers stay alert for greedy Grinches as they surf the Web for holiday travel deals and seek out gifts for their loved ones, McAfee has identified this year’s top “12 Scams of Christmas.”
With all the new products being introduced to company networks, the opportunity for vulnerabilities and security and compliance complications continues to escalate for IT teams. ... More >>
Mobile devices are fueling the biggest revolution in how we live and work since the development of the PC and Internet. ... More >>
The way we work is changing and the way we interact with our customers is changing, as 2016 is set to bring another wave of innovation. ... More >>


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Pay by Bank App Appoints Agnes Woolrich as Marketing Director
- People Moves
- 19.04.2017 01:30 pm
Today Pay by Bank app reported the appointment of Agnes Woolrich as Marketing Director, the latest in a series of senior level appointments as it prepares for the next stage in its development. This follows the appointment of Rajiv Garodia, Managing Director, in May 2016.
Agnes brings proven expertise in driving sustained growth and expansion, globally, across the card payments landscape. Agnes joins from American Express, where she spent 11 years in senior marketing roles, most recently as VP Marketing, Bank Partnerships, where she was responsible for establishing new businesses and driving growth in Africa and the Middle East.
Prior to this, she was responsible for growing the value of American Express’ relationships with its largest global merchants. Rajiv Garodia, Managing Director of Pay by Bank app, commented, “We have spent the past couple of years perfecting a mobile payment solution that will become the UK, and in time global, standard for mobile payments. The solution has significant advantages over other alternatives, as it integrates within mobile banking apps, operates on the Faster Payments system and is linked directly to banks’ current accounts.
“Agnes’ appointment supports our planned growth phase, where we will be rolling out the solution to the UK market and, using our experience and learning gained in the UK, globally. Her experience in driving growth globally through building bank and merchant partnerships will be invaluable to support our ambitious plans.”
Agnes Woolrich, Marketing Director of Pay by Bank app, commented, “It’s clear that, out of the myriad of mobile payment solutions in the market, those that can integrate seamlessly with people’s bank accounts have the highest potential to achieve widespread adoption. I’m therefore excited to join Pay by Bank app at this exciting stage in its development. I look forward to working closely with Rajiv and the rest of the senior team in their mission to make Pay by Bank app the global mobile payment standard.”
Pay By Bank app has announced the confirmation of significant new bank and merchant commitments in recent weeks, with HSBC and first direct joining Barclays, Bank of Scotland, Halifax and Lloyds Bank in signing up to the service. The availability of Pay by Bank app on the mobile banking app of each individual bank depends on that bank’s development priorities/ schedule.


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According to local press reports, Ooredoo Maldives, part of international communications company, Ooredoo, whose operations span the Middle East, North Africa and Southeast Asia, has launched a voice-over-Wi-Fi (VoWiFi) service called Wi-Fi Calling.
As in other regions, VoWiFi allows users to make or receive calls over a Wi-Fi network in locations where mobile network coverage is unavailable or inadequate, and also when their phone is in flight mode.
That said, users require a handset supporting VoWiFi, an Ooredoo 4G LTE SIM, and VoLTE service activated. Currently, only Huawei and iPhones support the Wi-Fi Calling service. Ooredoo has been reported as saying that iPhone users will need to have iOS version 13.2 or above installed on the phone, while Huawei users will require the latest Android update.
The Ooredoo Maldives LTE network was introduced in 2013 and upgraded to LTE-A in 2016. Voice over LTE (VoLTE) was introduced earlier this year.
Wi-Fi Calling is said to be a first in the Maldives; it is available for Ooredoo customers at no additional cost. The Oooredo Madives network covers all 199 inhabited or resort islands in the Maldives (out of an estimated 1,200 islands), which lies south-west of the Indian sub-continent. The country’s population is around 324,000.


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GM To Expand Tennessee Production
General Motors says it will start building its Chevrolet Equinox at its plant in Tennessee next year and begin making a midsized vehicle there for the 2015 model year.
Monday’s announcement of a total $255 million investment is projected to create nearly 1,900 jobs at the idled former Saturn plant outside Nashville.
The company said that the investment in the plant will place it among the world’s most flexible auto-making facilities, allowing GM to respond to changing demand for a variety of models.
Autoworkers cheered at Monday’s event as union and company officials pressed a button to ceremonially relaunch the line at the Spring Hill plant. They also booed and heckled U.S. Sen. Bob Corker, a Tennessee Republican who had opposed bailouts for the auto industry.


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And at last the wait is over Motorola India is all set to launch Moto G4 and G4 Plus this week. As history speaks Motorola was exclusive to Flipkart India but now for Moto G4 and G4 Plus will be exclusive to Amazon India.
Motorola has announced the launch dates via twitter! Here is the tweet:
@Moto_IND We’ve heard the same! pic.twitter.com/wrkU3gqEWs
Hahaha! We shall make you wait no more, @JimBeamIndia. On @amazonIn, this 17th. #amazonexclusive
Here is the statement by Amit Boni, Motorola India Head:
Consumers are at the heart of whatever we do and we will leave no stone unturned to enhance their buying experiences as well. We have witnessed tremendous growth in the e-commerce market and it will continue to be the dominating channel for us as we bring new products to the India market. Amazon is the one of the best online marketplaces in India and we are glad to announce that we have exclusively partnered with Amazon India for our next Motorola smartphone.
So its confirmed that these model will debut on 17th May at Amazon India. We will be updating you on this topic! Stay Tuned 🙂
Source: Android CentralIf you like our report please share your support by subscribing to our community on Facebook, Twitter, Telegram or Flipboard. you can also join our support group Smartphone Assistant for any queries related to your devices


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The food delivery industry is witnessing two of its most popular apps become one massive entity as Uber acquired Postmates in a $2.65 billion deal.
Since the outbreak of the coronavirus, Uber’s food delivery arm UberEats has been the company’s biggest money-maker. By acquiring Postmates, Uber will now occupy 30% of the entire food delivery market. Doordash remains the leader with 45% of the market.
“Uber and Postmates have long shared a belief that platforms like ours can power much more than just food delivery — they can be a hugely important part of local commerce and communities, all the more important during crises like COVID-19,” Uber CEO Dara Khosrowshahi said in a press release.


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Mindset Consulting has launched in Spain
Dina Mostovaya is delighted to announce the launch of Mindset Consulting in Spain.
The new office in Madrid will serve as a platform to boost Spanish startups in their internationalization, in addition to being a support for those overseas startups that want to invest in the country themselves.
“Spain is home to the fourth highest number of startups in Europe. Madrid and Barcelona are in the Top 20 emerging startup ecosystems in the world. We know there is an excellent opportunity here – it is a perfect location for Mindset Consulting to open an office,” says Dina Mostovaya, Mindset Consulting founder and CEO.
She also adds that the team’s expertise in international PR and investment PR can help local entrepreneurs make themselves known in the global market, especially in the United States, the United Kingdom, and Latin America.
Natalia Edde, partner and COO of Mindset Consulting, adds: “Southern Europe is home to a large number of startups and entrepreneurs with a high potential both in Europe and beyond. Thanks to our international expertise we know how to help startups, not only by growing their brand, but also by connecting them with their customers.”


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Automotive toolmaker International Mold Corp. is building a new plant in Greer, S.C.
Construction is set to begin next month on a 24,000-square-foot facility near BMW's Performance Center, according to local media reports. The plant will be expandable to 100,000 square feet.
International Mold is headquartered in Clinton Township, Mich., with six plants in the state. The Greer plant will be the company's first reach into the Southeast.
International Mold joins a long list of automotive suppliers to establish operations in South Carolina, where BMW is in the midst of a $1 billion expansion.
International Mold has $20.5 million in annual sales, according to the most recent Plastics News estimates.


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LOUISVILLE, Ky (WDRB) -- It is the first-ever study on the economic impact Kentucky's bourbon industry is having on Louisville's economy, as the bourbon boom continues across the state.
A University of Louisville study released on Friday says Jefferson County is one of the biggest winners in the bourbon renaissance. "We are proud to say that the Kentucky Bourbon Industry is on fire, but in a good way, especially here in Louisville," says Eric Gregory, the Executive Director of the Kentucky Distillers' Association.
He spoke at a news conference at Brown-Forman announcing the results of the study.
It says the bourbon industry provides 4,200 jobs in Jefferson County, $32 million in tax revenue, and $50 million in capital projects during 2012.
"We are not just talking about distilling, we are also talking about the tourism industry, hospitality, bottling, and transportation," says the author of the study, Janet Kelly, the executive director of U of L's Urban Studies Institute."
During the past two years Kentucky distilleries have invested $300 million in upgrading their operations with improved bottling lines and upgraded and larger visitors centers. The numbers are impressive, but the industry says changes are needed in Kentucky's tax code for even more growth in bourbon sales.
Explains Gregory, "There are seven different taxes on every bottle of spirits. Sixty percent of every bottle goes to taxes, the one tax we really think is unfair is the barrel tax."
The barrel tax is assessed every year on the aging barrels in warehouses. Gregory says it is the only such tax in the world and is not assessed on any other alcoholic beverage like beer or wine. "We have talked with a lot of craft distillers that would love to come to Kentucky." says Gregory. "They are waiting on us to see what we are going to do with the tax structure."
The bourbon lobby will once again try to convince state lawmakers to make changes when the legislature meets in January of 2014.
Meantime, Louisville Mayor Greg Fischer says the growth in the bourbon industry has been extraordinary. "We want to grow thousands of more jobs," says the mayor.
Copyright 2013 WDRB News. All rights reserved.


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Top-flight English soccer side Wolverhampton Wanderers have claimed a Premier League first by installing a double perimeter LED system at their Molineux Stadium to deliver ‘supersized’ branded content to viewers watching on TV.
The new system, which has been designed by technology company ADI, will see the club’s commercial partners benefit from significantly increased exposure during broadcasts.
The ‘mega minute’ branding makes it possible to stretch a sponsor’s content across two parallel perimeter LED systems, which ultimately doubles the height of the advertising display seen by the TV audience.
The system, which was first used during Wolves’ 2-0 win over Southampton last weekend, is also equipped with ADI’s virtual hybrid technology, which means fans in the stadium see traditional LED content, while viewers watching the same match on TV in different countries see brand content specific to their region.
“The new perimeter LED offers huge flexibility for how we can help brands activate their message,” said Wolves managing director Laurie Dalrymple. “We wanted to create a digital platform that offers value for our partners, and the ability to deliver supersized brand content really offers that.
“Combine that with the opportunity to help brands target specific regions using the virtual advertising functionality, and we suddenly have a very compelling platform.”
The move makes Wolves the 12th club to buy into ADI’s virtual replacement LED, which the company develops in partnership with augmented reality specialists Supponor.
“We worked closely with Wolves to define the solution, which also extended to the installation of a new LED ribbon and the integration with stadium screens,” added ADI chief executive Geraint Williams. “The result is a hugely compelling fan engagement and commercial platform through which we can synchronise the content delivered across every digital display in the stadium.”
Wolves sit ninth in the Premier League following a strong start to life back in English soccer’s top flight. They travel to Selhurst Park to take on Crystal Palace in their next game on Saturday.


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S.H.Figuarts Shinkocchou Seihou Kamen Rider Kuuga Amazing Mighty Announced
Kamen Rider Kuuga has proven to be an intensely popular release in Japan. Kuuga Mighty has been released and re-released, Kuuga Rising Mighty was released at retail, and Kuuga Ultimate was recently released via Premium Bandai. Kuuga has hit the Shinkocchou Seihou line yet again with the Premium Bandai release of Kamen Rider Kuuga Amazing Mighty. The release is set to include nine additional hands.
Pre-orders for Kamen Rider Kuuga Amazing Mighty are currently live and will conclude at an unannounced date.
Kamen Rider Kuuga Amazing Mighty will release in March, 2017 and will retail for ¥5,940 before fees and shipping.
Source: Premium Bandai
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Still cautious from the economic downturn, consumers created an uneven environment for beer once again in 2011. The year’s performance reflected a category of contradictions with trends torn between the ongoing price consciousness of some shoppers and the insatiable taste for variety — even if it carries a higher price — from other demographics. As crafts, flavored malt beverages (FMB) and ciders benefited from consumer curiosity, the large domestic brewers repeated 2010’s trend of dollar sales growth as volume declined.
“In 2011, total beer volume sales continued to decline, down by another 2 percent while value sales of beer were up by 1 percent,” explains Ty Law, research analyst at Euromonitor International, Chicago. “As consumers were trading down, manufacturers hiked up unit prices on their economy beers to make a profit. As economy beers were no longer a cheap buzz, many Americans stopped purchasing them and instead saved up for the premium-end products.”
Bump Williams, chief executive officer and president of Bump Williams Consulting, Stratford, Conn., notes that volume losses were not unique to 2011.
“For 2011, the takeaway is that the volume was down probably close to 3 million barrels across on-premise and off-premise,” Williams says. “That’s on top of another 2.5 or 2.8 million barrels the year before, on top of another 2 million barrels the year before that. This is a really slippery slope we’re on.”
beer category had $25.1 billion in sales in food, drug, gas, convenience and mass merchandise outlets, excluding Walmart, club and liquor stores, for the 52 weeks ending Dec. 25, 2011, according to Chicago-based market research firm SymphonyIRI Group. The average price per case within the entire category increased 0.5 percent during the same time period, which led to a 2.5 percent increase in dollar sales despite a 0.3 percent decrease in case sales, SymphonyIRI data shows.
In 2011, the beer category saw its two leading segments, domestic premium and domestic sub-premium beer brands, lose market share by small percentages, -0.8 and -0.4 percent, respectively, according to SymphonyIRI data for sales in measured channels through Dec. 25. Stepping into this void were craft, import, domestic super-premium and FMB segments, which each showed small growth in market share. Craft beer and hard cider led the beer category in volume increases with a 14.5 percent rise in craft case sales and 24.3 percent increase in hard cider volume sales through the last week of 2011.
Although price restructuring caused some consumers to choose brands in other beer segments, such as imports, some consumers turned to other categories entirely, Williams says. Sub-premium beer consumers, who often purchase larger package sizes, have not only been affected by increasing prices on their budget-priced beer brands, but also rising gas prices, unemployment and underemployment, he notes.
“We saw that price gap get way too tight with premium beers, and what the big brewers wanted to do was trade people up and it didn’t work,” Williams says. “The spirit companies were brilliant: they saw what was happening and they lowered the price of a lot of their 750-ml. vodka, tequila and rum brands, and there were a lot of 750-ml. promotions for $6.99 or $7.99.”
Williams says many consumers noted the price tag difference and switched from beer to spirits. According Nielsen, the spirits category increased 3.7 percent and the wine category grew 2.1 percent in 2011, says Danny Brager, vice president of the beverage/alcohol team for the New York City-based research firm.
The pressure from the other side of the alcohol aisle was highlighted by Tom Long, chief executive officer of Chicago-based MillerCoors, in a speech at the National Beer Wholesalers Association (NBWA) annual meeting and trade show in October. Long said that beer manufacturers and wholesalers were no longer just competing against competitive beer brands, but needed to respond to pressure from spirits, which have been consistently taking share from beer.
After years of declining sales, the spirits segment turned around, in part by tactics borrowed from beer, Long noted. Spirits companies took a page from the brewer’s playbook and placed emphasis on brand-building, advocacy and collective action, he said. On behalf of beer-makers, the MillerCoors chief executive officer said brewers are dedicated to getting beer growing again.
The country’s largest brewers, MillerCoors and Anheuser-Busch InBev, St. Louis, continued to sell less volume, but at a more profitable level in 2011, explains Dan Wandel, senior vice president at SymphonyIRI. Anheuser-Busch InBev lost 0.9 percent market share, but maintains 50.1 percent of the U.S. beer category in SymphonyIRI’s measured channels. However, the brewer decreased 1.8 percent in volume, but reported a 0.8 percent increase in dollar sales through Dec. 25. Likewise, MillerCoors, which lost nearly half a percent in market share to occupy 26 percent of the beer market, saw its volume drop 1.6 percent, while dollar sales increased 0.7 percent.
Part of the domestic category’s struggles was a lack of innovation in 2011, Wandel says. “For the third consecutive year in supermarket data that [SymphonyIRI] tracks, the overall sales generated by new brands declined versus the previous year,” he says.
One such innovation, MillerCoors’ MGD 64 Lemonade, was short-lived. The limited-edition line extension of its low-calorie MGD 64 line, a 64-calorie light beer with the taste of lemonade, was launched May 1 and discontinued by the brewer in late July.
Garima Goel Lal, senior analyst at Mintel, Chicago, says that packaging is one area where major brewers have differentiated their brands. This year, Anheuser-Busch InBev’s Bud Light, which topped U.S. beer sales with $5.3 billion in SymphonyIRI’s measured channels through Dec. 25, released a pressure-sensitive label on its bottles. The label allows for consumers to customize it with a message or drawing using a coin or key, the company says.
In May, MillerCoors rolled out new cold-activated technology for Coors Light bottles and cans. The packaging changes colors to alert consumers when the beer is cold, and then super cold. When cold, the mountains and a Cold indicator bar on a Coors Light package turn blue, but with further chilling, the package’s Super Cold indicator bar turns blue. Coors Light increased 2.5 percent in volume and 3.7 percent in dollar sales in food, drug, gas, convenience and mass merchandise outlets, excluding Walmart, club and liquor stores through Dec. 25, 2011, according to SymphonyIRI data.
In the fall of 2011, MillerCoors redesigned the packaging for its Miller Genuine Draft (MGD) brand, which saw both dollar and volume declines of 13 percent in SymphonyIRI’s measured channels through Dec. 25. MGD’s new design features a black label for bottles and cans that is meant to highlight the brand’s fresh draft taste and connection with global nightlife, the company says. MGD’s global black label packaging began to roll out in November 2011 and completed the transition in January, MillerCoors noted.
Arguably last year’s biggest success story was Pottsville, Pa.-based D.G. Yuengling & Son Inc., which expanded into its 14th state in late 2011. In its original markets, Yuengling benefits from a position as the only full-calorie premium and light premium beer with double-digit growth, Williams explains. Expanding distribution into Ohio doubled the brewery’s growth trends, he says.
“Ohio doubled what they were growing in the 13 original states, so if they were up 7 percent in the 13 states, bringing Ohio in brought their volume up plus 15 percent — that is staggering,” Williams says.
Yuengling Traditional Lager increased 24.5 percent in volume and 26.3 percent in dollar sales for a total of $185 million in measured channels through Dec. 25, according to SymphonyIRI. The brand also finished 19th on SymphonyIRI’s overall beer category brand list. Yuengling Black & Tan also grew to $15 million in sales with a 21 percent increase in dollar sales and 18.8 percent growth in volume.
Carving out a niche with price-sensitive consumers, private label beer brands increased in popularity in 2011. Industry analysts are split on the merits of these offerings as Mintel’s Goel Lal and Euromonitor’s Law maintain that private label beer brands appeal based on low price, which is contradictory to the overall category’s brand-centric operation. Goel Lal cites Mintel research that says 56 percent of beer consumers look for a name brand, while 53 percent choose a beer based on low price.
However, SymphonyIRI’s Wandel notes that 2011 was a record year for private label beer. Although it remains less than one share point of the research firm’s overall category data, SymphonyIRI data shows that private label beer sold just fewer than 2.3 million cases in measured channels, which is an increase in sales of about 1 million cases from 2010, he says.
“Make no mistake, I think the biggest driver in the success in the private label brands that we’re seeing now is that there’s a big fundamental change there,” Wandel explains. “In the past, it was import private labels that were really doing the bulk of the volume. That has changed over the last two-plus years, and now where the efforts are really being made with private label in the category are around the domestic, mostly in the sub-premium, premium and craft items.”
Nielsen’s Brager agrees citing data that private label growth in grocery, convenience and drug stores was up 46 percent in dollar sales, although its share impact overall remains a slight 0.1 percent dollar share. The drug channel, which was dominated by Walgreens’ private label beer Big Flats, leads the channels in private label performance and saw a 0.9 point dollar share gain in 2011. Private label lost volume in convenience stores, but presented modest growth in grocery stores, where it still outpaced the overall beer category with 6.2 percent dollar share growth, Brager explains.
The industry continues to see light beer’s share erode with Mintel’s Goel Lal noting that ultra light varieties have contributed to the segment’s decline. SymphonyIRI’s domestic super-premium beer segment is topped by Anheuser-Busch InBev brand Michelob Ultra Light, which experienced an
8.4 percent increase in volume sales and 10.3 percent rise in dollar sales in measured channels through Dec. 25. The performance also helped Michelob Ultra Light round out the Top 10 overall beer brands, according to SymphonyIRI data.
The super-premium beer segment also includes fellow Anheuser-Busch InBev brands Bud Light Lime, which experienced 8.8 percent declines in both volume and dollar sales in its second year on the market, Bud Light Chelada and Budweiser Chelada, which each posted positive growth.
Also among the super-premium segment’s top performers are Blue Moon and Leinenkugel’s brands from MillerCoors subsidiary Tenth and Blake Brewing Co.’s portfolio. Founded in August 2010, Tenth and Blake is home to MillerCoors’ craft and import brands, which include Peroni Nastro Azzurro, Pilsner Urquell and Grolsch.
Blue Moon Belgian White Ale ranks No. 3 in SymphonyIRI’s super-premium beer segment with $150 million in sales, which is a 21.5 percent increase in dollar sales and 20.6 percent rise in volume sales in SymphonyIRI’s measured channels through Dec. 25. The brand’s seasonal releases reported higher increases with a 27.4 percent volume increase and 39.3 percent dollar sales growth, according to SymphonyIRI data.
Seasonal beers also were a popular draw for Tenth and Blake’s Leinenkugel’s brand. Leinenkugel’s seasonal varieties reported a 59 percent increase in volume and 62 percent rise in dollar sales for a total of $31.4 million in sales in measured channels through Dec. 25, SymphonyIRI reports.
Similar to Blue Moon, Anheuser-Busch InBev’s Shock Top brand also reported growth with $54.2 million in sales in SymphonyIRI’s measured channels. The research firm’s Wandel notes that Blue Moon and Shock Top might not have arisen if it were not for the craft beer boom. Williams concurs saying that the brands appeal to both craft and super-premium beer consumers.
In addition to its standard Belgian White Ale, Shock Top expanded its portfolio with Shock Top Raspberry and last month’s release of Shock Top Wheat I.P.A. The variety is a hybrid style beer combining the smoothness of wheat beer with the crisp, hoppy bitterness of an India pale ale, according to the company. In addition to retailing on its own, Shock Top Wheat I.P.A. will be available in a sampler pack with Shock Top’s other two varieties starting this month.
At 5.8 percent alcohol by volume, Shock Top Wheat I.P.A. feeds into the trend of higher alcohol beer varieties, which also is being addressed by Anheuser-Busch InBev’s latest release, Bud Light Platinum. Designed as a higher-end version of America’s No. 1-selling beer brand, Bud Light Platinum is a lager that is described by the company as a bit sweeter and smoother than Bud Light with 6 percent alcohol by volume. The company rolled out the product at the end of January and marketed it during the Super Bowl with two 30-second ads featuring young professionals at an after-hours office party.
SymphonyIRI’s Wandel spotlights Bud Light Platinum as a signal that the innovation missing from the big brewers might be returning in 2012. “I think the major brewers recognize that the innovation has been somewhat questionable the last couple years, and I think we’re going to see a big effort and push behind that in 2012,” he says.
Unlike the overall beer category, the imported beer segment was able to continue a growth trend, Euromonitor’s Law says. “In 2011, imported beers grew for [the] second year in a row by 1 percent to reach total volume sales of 3 billion liters,” he explains. “This feat is impressive as the overall beer category has declined by 2 percent for a third straight year. Imported beer managed to recover quicker from the recession than their domestic counterparts.”
Law attributes imports’ bounce back to competitive pricing and the rise of smaller import brands.
SymphonyIRI data shows the overall import category reported $3.6 billion in sales, which is a 5 percent increase in dollar sales and represents 3.7 percent volume growth. Crown Imports, Chicago, led the category’s growth with an 8.3 percent increase in dollar sales and 7.2 percent growth in volume sales, according to SymphonyIRI data. Williams says Crown Imports’ surge can partially be accounted for because of its new packaging, promotion of brands within its portfolio and move into convenience stores.
Crown Imports released Corona Familiar, which is a family-size 32-ounce bottle of leading import brand Corona, in the United States last year. Growth also came from Crown Imports’ push behind its portfolio of brands, including Modelo Especial, which ranks third among imports for the 52 weeks ending Dec. 25, according to SymphonyIRI data. Modelo Especial captured $331.7 million in sales, which is a 19.2 percent increase in dollar sales and 18.8 percent growth in volume, SymphonyIRI data shows. Its Pacifico and Negra Modelo brands also reported single-digit increases during the time period.
Dos Equis, a brand of Heineken USA, White Plains, N.Y., continued its positive per-formance with a 22 percent increase in volume and 25 percent growth in dollar sales in SymphonyIRI’s measured channels through Dec. 25. The brand fared the best of the company’s portfolio of imports, which also include Heineken, Heineken Premium Light and Amstel Light.
Williams sees the category’s slight rebound in 2011 as a signal of better things to come. “To me, the import category isn’t dead, it’s simply dormant,” he says. “There are some [brands] that are going on underneath the Heineken and Corona brands that are really boiling with a lot of growth. Don’t discount imports because there are a couple of brands that are asleep right now. Imports are going to be back — hard.”
Leading the import category’s growth with a 36.4 percent increase in dollar sales and 38.9 percent growth in case sales was Anheuser-Busch InBev’s Stella Artois brand. Williams notes that the brewer is capitalizing on Stella Artois’ on-premise appeal, where it is served in a signature chalice-style glass, and executing the brand at retail with more support and new distribution channels.
Williams foresees continued upswing in import performance thanks to positive inspiration. “You’re going to start seeing imported beers looking an awful lot like craft beers, and I think that’s a great thing; I love that,” he says. “That creates trial, it creates repeat, it creates store loyalty, it increases market basket dollars — that’s all great stuff.”
In line with the last few years, craft beer was the segment to watch in 2011.
“The continued double-digit sales growth success of the craft segment once again led all of the segment’s growth,” SymphonyIRI’s Wandel says. “The largest channel for [craft] is supermarkets; they just don’t have a big presence in convenience —it’s starting to emerge. When I look at their biggest channel of supermarkets, craft finished up 12.6 percent in volume sales and 15 percent in dollar sales. They were by far the clear winner in terms of sales increase versus a year ago.”
Nielsen’s Brager says craft beer’s popularity has spurred an 8 point increase in the average number of craft items on grocery store shelves.
Across all of SymphonyIRI’s measured channels, craft beers posted a 16.6 percent rise in dollar sales and a 14.5 percent increase in volume to tally $1.2 billion through Dec. 25.
Mintel research indicates that 62 percent of craft beer consumers drink craft beer because each brand tastes different, Goel Lal explains. Seasonal and limited-edition craft beers also continue to intrigue consumers, she notes, citing Mintel research that nearly 70 percent of craft beer drinkers like to try seasonal beers. Nielsen’s Brager notes that seasonal brands contributed 32 percent to craft’s growth in 2011.
Nearly all of the Top 20 brand families posted positive numbers in dollar sales and case sales for the bulk of 2011, according to SymphonyIRI data. The category’s best-sellers include the Samuel Adams brand from The Boston Beer Co.; Chico, Calif.-based Sierra Nevada Brewing’s beers; New Belgium Brewing Co.’s brand family; and the Shiner brand from Spoetzel Brewery in Shiner, Texas.
Sierra Nevada Brewing Co. recently announced it has chosen a site in North Carolina where it will construct its East Coast brewery. The new facility, which is expected to open in 2014, will allow shipment of fresh-brewed beer to consumers in the East and will start with a capacity of about 300,000 barrels with room to grow, the company said. The location was chosen not only for its ease of shipping and water quality, but also because it fit in with the brewery’s reputation for a laid-back culture with a love of the outdoors, Sierra Nevada Brewing noted in a statement about the expansion.
Posting some of the category’s largest gains were the brands from Portland, Ore.-based Craft Brewers Alliance. The company’s Widmer brand ranked No. 5 on SymphonyIRI’s list of top craft brand families with $41.6 million in sales. Redhook was not far behind with $33.4 million in sales. The company’s most recent addition, Kona Brewing and its line of Hawaiian beers, posted one of the craft segment’s largest gains. The Kona brand family captured $21.6 million in sales, which is a 54.8 percent increase in dollar sales and 57.7 percent rise in volume sales, according to SymphonyIRI data for measured channels through Dec. 25.
The craft segment’s biggest gainer was the Lagunitas brand family from Lagunitas Brewing Co., Petaluma, Calif. The brewery’s lineup reported 58.8 percent growth in volume sales and a 58.6 percent increase in dollar sales for $19.2 million in SymphonyIRI’s measured channels.
Going forward, SymphonyIRI’s Wandel notes the promise of cans in the craft category. “Each year the sales of cans have increased in our data for craft, but it’s still a very, very small base,” he says. “I do think with rumblings that some of the larger guys in craft are starting to think about it, and likely to get into it, I think we’re going to see a pretty big year in can sales for craft.”
The variety of options created by craft breweries is helping to broaden U.S. consumers’ ideas about beer, Euromonitor’s Law says. Dark beer has specifically begun to take share from lagers, he says. In 2011, dark beer volume sales increased by 10 percent while value sales grew by 9 percent to reach $5.4 billion, the Euromonitor analyst notes. Dark beers also have a bright forecast with Euromonitor predicting 3 percent annual growth through 2016, Law says.
Consumers’ taste for variety led to a bump for the FMB segment, which increased 3.7 percent in volume and 3.8 percent in dollar sales in food, drug, gas, convenience and mass merchandise outlets, excluding Walmart, club and liquor stores, for the 52 weeks ending Dec. 25, 2011, according to SymphonyIRI. Williams notes that Smirnoff Ice and Bacardi Silver continue to perform well.
The FMB segment’s No. 1-selling brand family, Marc Anthony Brands’ Mike’s Hard Lemonade brand reported 30 percent volume and dollar sales increases. The statistic includes the brand’s new single-serve 8 percent alcohol by volume Mike’s Harder Lemonade line and reformulated Mike’s Lite Hard Lemonade portfolio.
Also attracting flavor-seekers is the hard cider segment, which has benefited from craft’s rise, Euromonitor’s Law says. “[Hard cider’s] growth has largely been attributed to the popularity of the U.S. craft beer market and consumers’ desire to try new flavors and tastes,” he says. “Familiarity with the wide variety and tastes of craft beers has allowed consumers to give other alcohol beverages a try.”
Euromonitor also notes that some craft brewers are offering hard cider varieties, including Angry Orchard Cider Co., which is affiliated with The Boston Beer Co. The category continues to be dominated by Vermont Hard Cider Co.’s Woodchuck brand family, which reported a 38.5 percent increase in dollar sales to $25.1 million, and makes up 47.7 percent of the hard cider category’s market share, according to SymphonyIRI data.
Recording triple-digit increases, the Crispin Cider Co.’s brand family grew 274.7 percent in dollar sales and 253.7 percent in case sales in SymphonyIRI’s measured channels through Dec. 25. The brand’s performance was cited as inspiration for MillerCoors’ Tenth and Blake Brewing Co.’s acquisition of the company that was announced last month. Crispin will be run as an independent division of Tenth and Blake and will continue to produce its Crispin brand apple and Fox Barrel brand pear ciders at its cidery in Colfax, Calif., the company said.
Despite the impressive performance, experts caution that hard cider’s growth is coming from a small base. However, Williams likens the category’s trajectory to that of craft beer 20 years ago noting the emergence of seasonal ciders, variety packs and special-edition ciders, such as Vermont Hard Cider’s Woodchuck Private Reserve and Farmhouse Select offerings. He also highlights the segment’s potential to appeal to women and younger consumers of legal drinking age.
Cider’s 2011 performance might just be beginning for the segment, says SymphonyIRI’s Wandel. “As big as it was last year, I think going into 2012 cider is poised to have an even bigger breakout year,” he says.
Although the U.S. beer industry experienced bright spots during 2011, experts are not overly optimistic in their predictions for this year. Euromonitor’s Law predicts continued decline in volume sales, albeit at a lower rate than previous years.
Williams foresees price hikes this year in the range of 2 to 2.5 percent. Despite the need to pass the added costs on to consumers, he says price has not yet been a deterrent for consumers purchasing high-end, luxury beers, such as craft selections. He also notes the opportunity for brewers to appeal to baby boomers and females.
Due to continued economic uncertainty, Williams predicts the overall beer category will be down 1.8 to 2 percent. The rate of decline will depend on unemployment rates, passing of new taxes and gasoline prices, he says.
On the other hand, SymphonyIRI’s Wandel predicts a much stronger year for innovation, with the larger brewers releasing new brands and new packaging. Mintel’s outlook is for 4.6 percent growth, which will primarily come from craft beer, Goel Lal notes. BI


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Google Chrome and Android Will Implement Tokens for Autofill
12 May 2022
As announced in the 12 May 2022 edition of the Visa Business News, Google will be the first partner to use Visa Token Service to enhance the Chrome browser, as well as Android, Autofill features with e-commerce enabler tokens. Visa and Google employee testing is expected to begin 21 June 2022, which may result in some very limited traffic. The gradual pilot rollout for Chrome and Android users in the U.S. is planned to begin in August 2022, with full U.S. rollout anticipated by November 2022. No other countries are announced at this time.
Currently, Google Chrome (across all operating systems), as well as Android, offer the capability to autofill primary account number (PAN) credentials on behalf of the cardholder, reducing the need for manually key-entered credentials at checkout. As announced in the 27 January 2022 edition of the Visa Business News, Visa Token Service (VTS) has enabled the ability for web browsers to replace PAN credentials with Visa network tokens for improved security and reduced friction in checkout experiences.
With Visa network tokens being utilized via Google Autofill, merchants, issuers, and cardholders can further experience the benefits that network tokens bring to the ecosystem—including higher authorization rates, lower fraud rates and better cardholder experiences. These tokenized Autofill credentials will work within existing merchant card entry forms that already support the use of Google Chrome Autofill today, meaning no additional integration with Google or VTS is required of merchants to process payments with these tokens. Merchants / acquirers can submit the token data in the same manner as they submit PAN-based transaction data. A three-digit dynamic token verification value (DTVV) cryptogram will be auto-filled in place of Card Verification Value 2 (CVV2). Merchants may store (with consumer consent) auto-filled tokens for future credential-on-file (COF) transactions. Merchants can contact their acquirer or Visa representative to learn more.


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Nissan has announced that the 2023 Nissan Murano will not be getting any big changes for the new model year. The only big changes are the addition of the new Nissan logo and the availability of two new colors: Super Black and Deep Ocean Pearl.
The 2023 Murano will be offered in four trim levels: S, SV, SL and Platinum. It comes standard with a 3.5-liter V6 with 260 horsepower and 240 pound-feet of torque, that’s mated to a CVT. All-wheel drive is available.
The pricing for the 2023 Nissan Murano starts at $34,955, including destination.
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Special purpose acquisition company (SPAC) activity has exploded in the past two years, from 59 transactions in 2019, to 248 deals in 2020, to 308 SPACs so far in 2021. However, SPACs are not new. This type of transaction has been around for decades, continually evolving as it rises and falls in popularity.
At one point, for example, reverse mergers were popular, in which a private company would acquire a public shell — the very opposite of a modern SPAC transaction.
At this current peak in popularity, SPACs are facing a new batch of challenges and opportunities — and as a result, they are evolving to meet new requirements and expectations. Here’s a look at a few of those changes
1. Short Squeezes
With the recent GameStop news, many companies are wondering if similar short attacks can happen to SPACs. Generally, SPACs may not be susceptible to a dramatic short squeeze option, where, for instance, a stock would go from $10 to $500. However, there are different elements at play with a SPAC that could prompt a short squeeze. Specifically, the actual free float for a SPAC can be much smaller than what’s listed. This can happen when a lot of the IPO participants are institutions that partner on the PIPE, and they’re restricted and cannot sell for three to six months. This tight float can make a SPAC more vulnerable to a short squeeze.
2. The Rise of Retail Investors
As a SPAC and its target company seek to complete the business combination process, the SPAC must hold a stockholder meeting to facilitate a vote on the merger agreement. Each share held by an investor is equal to one vote. In addition to securing a majority of the votes that are cast, the rules generally require that a majority of the shares outstanding actually cast a vote, to reach a meeting quorum requirement of 50%. Without a quorum, the vote must be postponed.
The recent rise in retail investors has made obtaining a quorum increasingly challenging, because individual retail shareholders are historically less likely to cast votes at company meetings. Today, it’s not uncommon to have tens of thousands of individual shareholders (in some SPACs, as much as 50% of the total), each holding a small number of shares, making the process time consuming, costly and cumbersome. As a result, SPACs must diligently and continually educate investors — with a specific focus on retail investors — about the business opportunity and shareholder voting process.
3. Increased International Focus
For several years, SPACs focused on U.S. companies because they had a greater familiarity with the U.S. regulatory and political environments. However, the SPAC landscape has grown increasingly competitive, with about 350 SPACs currently seeking targets. This has created an increased focus on the international market, where there is a less competitive environment and fewer SPACs shopping for targets.
4. “Sidecar” Targets
In the traditional SPAC model, the SPAC raises capital for an unidentified target. However, in a few recent SPAC transactions, the SPAC has announced that while they are raising funds for an unidentified target, they may also buy a smaller company (in the same target industry) that’s affiliated with the SPAC. Essentially, the smaller company becomes a “sidecar” that’s acquired along with the target company. The vast amount of the SPAC trust will go to the primary target; however, it is an interesting and evolving option, especially for investors or SPACs that have a high-growth company that may not be big enough to be SPAC-ready.
5. Focus on ESG
Over the past few years, there has been an increased focus on environmental, social, and corporate governance (ESG). Today, nearly all investors now factor ESG into their portfolio decision-making — and that’s true for SPACs, as well. SPACs are now focusing more heavily on ESG when identifying and acquiring targets, even if they don’t have a specific ESG mandate.
SPACs can be an appealing option for companies on the path to going public — as long as they understand how this transaction type is changing. For more information about how SPACs are continuing to evolve, watch the replay of the recent webinar, “SPAC to the Future,” where you’ll hear a panel of experts weigh in on the next phase of growth for SPACs.


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Scott Bradford, Technical Director of the Fellowship Church Knoxville (Knoxville, Tennessee), is part of a growing trend of audio professionals choosing to use plugins from Waves Audio in house-of-worship environments. …
Waves Audio, a leading provider of audio DSP solutions for professional, broadcast, and consumer electronics audio markets, is proud that its plugins are key tools for Jason Aulds, the talented Associate Director/FOH Engineer at the Dallas, Texas-area Gateway Church. The church, a large worship community spanning four campuses, is a Bible-based, evangelistic, Spirit-empowered church led by Pastor Robert Morris.
The church’s sound setup is impressive: three DiGiCo SD7 consoles at the main campus; four DiGiCo SD8 consoles across the other campuses; and an AVID Venue D-Show console set up for travel. The SD8’s are paired with the Waves SoundGrid Essentials bundle, and the D-Show is complemented by the Waves Live Bundle.
Live Stream Allows Users around the World the Opportunity to Virtually Visit the QSC Booth at the Annual Trade Show
QSC (Booth 6752, Hall A) announced they will be streaming live coverage of their booth activities directly from the 2015 Winter NAMM show floor. Viewers will be able to see and hear live stage performances, product demonstrations, interviews with QSC musical guests and artists and other show floor activities from the convenience of their computer, smart phone or other online mobile device.


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One of the first rules of Polycystic Ovarian Syndrome weight watching has always been to put the sugar bowl at the back of the cupboard and use low-calorie sweeteners instead. But a new study suggests that dieters might be better sticking with sugar after all.
Researchers say a sweet taste can prompt the body to prepare for a large intake of calories. When this does not arrive after using a low-calorie sweetener, the body then becomes confused and either demands more food or burns less energy, with resulting weight gain.
“The data clearly indicate that consuming a food sweetened with no-calorie saccharin can lead to greater body-weight gain than the same food sweetened with high-calorie sugar,” says the study by Purdue University in West Lafayette, Indiana.
The researchers accept that the finding sounds like diet heresay and will seem baffling to those who have long recommended the use of sweeteners to control weight. And they also claim that other artificial sweeteners such as aspartame, which do not lead to the delivery of calories, could have similar effects.
In the study published by the American Psychological Association’s journal, some rats were fed with yogurt sweetened with saccharin while others ate yogurt sweetened with glucose, a natural sugar.The saccharin-fed rats went on to consume more calories and put on more weight.
The research drew a critical reaction from the food industry. “This study oversimplifies the causes of obesity,” said Beth Hubrich, a dietitian with the Calorie Control Council, representing companies which make diet foods and drinks.
“The causes of obesity are multi-factorial. Although surveys have shown that there has been an increase in the use of ‘sugar-free’ foods over the years, portion sizes of foods have also increased, physical activity has decreased and overall calorie intake has increased.”
One fact is not in dispute: as well as causing dental decay, too much sugar can lead to obesity, which is often an underlying cause of a variety of serious disorders.
But a balanced, nutritious diet combined with regular exercise can help reverse an underlying cause of excess weight and obesity, namely the imbalance of blood glucose and insulin called Insulin Resistance. By reversing this latter condition, you can facilitate PCOS weight loss.
- Take the PCOS Quiz! Get your score and assess your hormone health risks.
- Join our Facebook Sisterhood Group Pose your questions to this group of like-minded women. Get the answers to your questions and the support you need.
- Checkout the Hormone Reset. Guided Practices to eliminate anxiety, lose weight and boost energy.
We are committed to helping women reverse their symptoms of hormone imbalance – a major cause of excess weight gain, adult acne, unwanted facial hair, depression, anxiety, and heartbreaking female infertility.
©Insulite Health empowers women with hormone imbalance to transform their lives through a process of healing with the Natural Hormone Solution –a complete solution for helping women reverse the symptoms hormone imbalance..


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© Reuters. ‘ESG Ratings Make No Sense’: Elon Musk Responds to Ark Invest Analyst Who Defends Bill Gates
Tesla Inc (NASDAQ: TSLA) CEO Elon Musk on Saturday responded to an assertion by Ark Investment Management analyst Brett Winton, who said it was “okay” for Bill Gates to short the EV Maker’s stock.
What Happened: Winton explained in a tweet that Tesla only has an “average” ESG (Environmental, Social, and Governance) rating, so as long as Gates invested in a company like Shell (LON:RDSa) PLC (NYSE: SHEL), which is more highly rated, the Microsoft Corp (NASDAQ: NASDAQ:MSFT) founder was not being a hypocrite. Musk quickly responded.
The exchange came after the leak of texts between Musk and Gates in which the Tesla CEO confronted Gates over having a $500 million short position in Tesla stock.
Also Read: Elon Musk’s SpaceX Fast Response To A Russian Attack Recognized As ‘Eye-Watering’ By US Military Official
Why It Matters: It should be noted that Tesla is by far Ark’s biggest holding, the stock currently makes up 10% of the firm’s flagship fund ARK Innovation ETF (ARCA: ARKK), with the stake currently valued at over $968 billion.
Ironically, Winton is a Tesla bull and this week challenged an analyst who said Tesla had likely reached a peak in 2021 for its market share and compared the company to Netflix Inc (NASDAQ: NASDAQ:NFLX).
Berkshire Hathaway (NYSE:BRKa), Inc. (NYSE: BRK-A) (NYSE: BRK-B) CEO Warren Buffett, in a recent interview, praised Musk for building Tesla and effectively challenging the legacy automakers. The Oracle (NYSE:ORCL) of Omaha also indicated that climate change is an issue that needs to be addressed, even if there’s only a one percent chance of successfully doing so.
Photo: Created with an image from Steve Jurvetson on Flickr
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read at Benzinga
‘ESG Ratings Make No Sense’: Elon Musk Responds to Ark Invest Analyst Who Defends Bill Gates


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GREENVILLE, NC (WNCT)- Car sales across the country are on the rise, and dealers in our area are feeling the buzz.
In 2015 automakers sold over 17 million units, an increase of six percent from 2014. Dealerships right here in the East are experiencing the same thing.
“As soon as you walk downstairs from the morning sales meeting you had two or three customers in the show room ready to do business,” Easter Carolina car salesman Brian Rogers said.
The East Carolina Chrysler, Dodge, Ram, Jeep, and Lincoln in Greenville sold 165 cars during the month of December.
Rogers said, “The more cars you sell the more cars you get through service, the more salesmen you can hire.”
Rogers says a lot of things can cause this kind of uptick including low gas prices and the falling unemployment rates. He also says sales weren’t always this good.
Rogers said, “We had the recession back in 08-09 things pretty much came to a halt.”
Experts say the economy is finally recovering. They say we gradually climbed back up to about where we were before.
ECU Business Professor, Dr. James Kleckley says car sales can indicate how the economy is doing. He says when the economy is doing well, auto sales usually mirror it.
“It’s a sign that the economy is probably better than a lot of people say it is,” Dr. Kleckley said.
Kleckley says everything flow together, and as the economy continues to do well, so will auto sales.
The auto industry is expected to see continued growth throughout 2016. Forecasts predict 18 million units this year.


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Google has announced via it’s official blog, changes to Gmail, its popular, free, web based email application. Cosmetic changes include the ability to size the mailbox, posts, chats and conversations. Google has also changed how ads are chosen for display in Google emails, allowing users more control over what that are shown.
The new changes to the Gmail interface will go into effect sometime this month, or if users prefer they can make them happen now by selecting the “Switch to the new look” link at the bottom right side of their Gmail screen.
Overall, the new design is intended to be less cluttered-looking than the current one, and Google seems to have achieved that. The new look is sharper and more dense. It’s also more customizable. Users can change the size of the entire email box (comfortable, cozy, or compact) to suit their needs and can also change the size of the mail and chat labels that are shown on the left side of the screen. In addition, behind the scenes changes have gone on that make sure the default screen fits exactly in the window in which it is opened; something some users had experienced problems with in past generations of the product.
Conversations have also been modified to better allow users to follow along with who said what. Also, icons are now included as part of both messages and conversations, but only if that other person is also using Gmail; and has an icon selected for themselves. Google has also modified the search feature to make it easier to customize and modify search criteria to more accurately define what is being looked for. They’ve also added the ability to use filters.
Another big improvement is the addition of a lot of new high resolution styles. This is something many users have been waiting for as up till now the choices have been very limited.
Something else many users will are the changes coming that allow users some control over the ads that show up in their messages. Google will display the words, “Why these ads?” with a link to allow users to see why they have been targeted with particular ads. Also users will be able to use the Ads Preference Manager to let Google know which types of ads they’d rather see or to block certain messages from advertisers that they don’t.
Industry experts suggest that the new interface for Gmail is in part due to users complaining about differences between it and the social media site Google+.


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Meta Lowers Minimum Age For Quest VR Headset From 13 to 10, But Is It a Good Idea?
Facebook's parent company Meta has lowered the minimum age for their VR headsets 'Quest' from 13 to 10, despite being repeatedly asked by lawmakers not to market the product to younger users.
Parents will be able to set up accounts for kids as young as 10 years old on Meta's 'Quest 2' and 'Quest 3' headsets starting in the latter half of this year, as per the company's announcement in a blogpost on June 16.
Preteens will only be able to set up an account and download apps to the device once they get it approved by their parents. Meta also said that it will use the kids' ages to provide "age-appropriate experiences" such as recommending suitable apps.
"There's a vast array of engaging and educational apps, games, and more across our platform the majority of which are rated for ages 10 and up," said Meta in the blog post.
Earlier this year, CNN reported that concerns were raised by two Democratic senators over the availability of the tech to teens aged 13 to 17. The lawmakers, in a letter, had urged Meta to suspend the proposed plan to offer Horizons Worlds, the company's flagship virtual reality app, to the said age group, suggesting that the tech could be harmful to their physical and mental health.
Despite the huge outcry, Meta forged ahead with the plan to allow teens as young as 13 in the States and also in Canada to use Horizons World, triggering more backlash from lawmakers and parents. Meta recently came up with their own set of arguments when it comes to VR and safety of children.
The Meta Quest 3
The third generation of Meta's VR headset named the Meta Quest 3 is officially here. In a video uploaded by Meta, the company announced the much-awaited follow-up to their Meta Quest 2. The Quest 3 will come with the latest generation processor, Qualcomm Snapdragon chipset which the company says will give the headset double the GPU processing power of its predecessor.
Is Lowering The Age Limit a Good Idea?
The debate on whether or not VR headsets are safe for kids has been on for quite some time now. Little to no scientific evidence is provided to back the claims of VR being bad for kids.
Meta recently provided a document citing dozens of studies that proves that VR is safe for kids. The documents deal with the following burning concerns: Headset weight on a child's head and neck; Increased effort needed to move in VR; Whether headsets affect mobility after use; Ocular and perceptual health; the fit; Reality Distinctions; Recommended daily limits; and how to supervise as parents.
Is Virtual Reality The Future?
Yes, the future of VR is looking pretty bright. VR can be used in many fields effectively.
VR In Medicine: VR can be a great training tool. VR can also be helpful when it comes to treating patients remotely.
VR In Social Media: VR can help achieve a more immersive experience. The idea is to be able to walk around in customized virtual worlds and interact with people in a new way. Facebook plans to make Horizon a safe place that will help people create "meaningful connections between people and also foster a stronger sense of community for everyone who joins the app," as per Bernard Marr & Co.
VR In Retail: VR can help customers make sound buying decisions. One can simply wear a VR headset and walk into a virtual furniture shop. IKEA's The Place App is an application imagined along these lines. The app allowed customers to see how the furniture will look in their space before they decide to spend their money.


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Bethesda is hosting the first Elder Scrolls Online community stream to celebrate the announcement of the latest expansion to the Elder Scrolls Online, ‘Summerset Isle’
To celebrate the announcement, Bethesda ANZ has invited four members of Australia’s influence community to create the first ever Elder Scrolls Online. The four attendees include Elder Scrolls lore master @Camelworks, MMO Veteran @ChinglishTV, ESO aficionado @individualchic, and PvE slayer @mApplinator.
You can watch the stream from 3 pm today, streaming live from Bethesda ANZ HQ on Camelworks’ Twitch channel.
To learn more about the upcoming expansion, Elder Scrolls Online: Summerset, check out our announcement post.


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Amazon India on Monday announced that it will open its second Fulfilment Centre in the country. The first one in South India, the centre, located near Bangalore is spread over 150,000 square feet, will be operational by February with inbound and outbound services. The new multilevel facility will be equipped with state-of-the-art warehousing systems and processes according to Amazon. It will be able to stock millions of products from new and existing sellers using Fulfilment by Amazon (FBA).
Speaking about the opening of new Fulfilment Centre, Amit Agarwal, Vice President and Country Manager, Amazon India, said, "We are very excited by the tremendous response from sellers of all sizes for our Fulfilment by Amazon offering in the short span of seven months since launch of Amazon.in. We are also thrilled by the customer response to our recently launched Next-Day Guaranteed Delivery service in several cities. Today over 120,000 plus products are available for next day delivery across eligible pin codes in several cities. The launch of the new fulfilment centre in Bangalore is part of our continued investment in providing fast and reliable delivery across vast selection of products, and enabling sellers of all sizes to achieve nationwide scale."
Adding to that M N Vidyashankar, Additional Chief Secretary, Department of Commerce and Industries, Government of Karnataka, said, "I congratulate Amazon India on its ongoing success, and I am pleased that together we were able to bring this significant investment that retailers across South India and especially Karnataka will benefit from."
According to Amazon, the investment is a part of the company's efforts to improve its online shopping experience in India, and get a scalable and bigger national platform for Small and Medium Enterprises (SMEs). It will also help customers get a broader selection of categories available for immediate shipment and eligible for Amazon's Next-Day Guaranteed service.
The first centre is located in Bhiwandi on the outskirts of Mumbai. According to the official press release, the new centre will allow sellers to save money as they can replace their upfront capital expense with low variable cost and pay only for the storage space they use and the orders Amazon fulfils. Sellers will also have the flexibility to choose the number of products they want to have fulfilled by Amazon.
The company says that globally, sellers converting items to FBA generally see a 30-40 per cent uplift in sales. "Sellers have greatly appreciated our Fulfilment by Amazon (FBA) service, a pay-as-you-go fulfilment service and a key feature of our e-commerce platform. With the new centre in Bangalore we will enable many more SMEs in India, particularly in South India to take advantage of this service and help them expand their online business. We will continue to do the heavy lifting on behalf of sellers so that they can focus on providing our customers with vast selection at low prices," said Amit Deshpande, Director & GM Seller Services, Amazon India.