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SHANGHAI -- Nissan CEO and EV champion Carlos Ghosn says he is disappointed with electric vehicle sales in China and that the government needs to step up incentives to help the green cars.
Nissan Motor Co., which sells a Leaf-based EV here through its Venucia domestic brand, has no plans to introduce more EVs until it can crack the code on selling that one, he added.
“The question we are all a little bit worried about is the fact that electric cars are not taking off in China, while in other markets they are taking off,” Ghosn said during a news conference today, the first press day of the Shanghai auto show. “The consumer’s not buying.”
Dongfeng Nissan Passenger Vehicle Co., Nissan’s local joint venture with Dongfeng Motor Co. and parent company of Venucia, launched its rebadged Leaf as the e30 last September.
At the time, Nissan said the e30 is eligible for a purchase tax exemption as part of the Chinese government's support for developing new energy vehicles. The e30 was initially launched in nine Chinese cities in fall last year, and Nissan said it aimed to sell it nationwide sometime this year.
Ghosn’s downbeat assessment comes as global automaker grapple with how to introduce battery electric cars to China, perhaps the one country -- with its vast pollution troubles -- that needs the zero emissions vehicles the most. Also at the Shanghai show, General Motors unveiled a concept electric sedan, the Chevrolet FNR, and also displayed the Bolt EV concept.
In March, sales of electric vehicles and plug-in hybrids in China totaled 14,122 units, triple the number of deliveries in the same month a year earlier, according to the China Association of Automobile Manufacturers. Automakers sold 9,390 EVs, and 4,732 plug-ins, the association noted.
In the first three months, sales of EVs and plug-in hybrids jumped 280 percent year-on-year to 26,581 units. Those sales included 15,405 EVs and 11,176 plug-ins.
Nissan would not disclose e30 sales figures.
According to Chinese regulations, only EVs built in China are eligible for a government subsidy of as much as 57,000 yuan ($9,300). Imported electric vehicles such as the Tesla Model S, Toyota Prius or the Japan-built Nissan Leaf would not qualify. The e30, however, is being produced at Dongfeng Nissan's Huadu plant in south China's Guangdong province.
Yet Ghosn said Beijing isn’t helping enough.
“I don’t think we’re going to bring a second car and a third car. Today the challenge is sell this one,” he said of the e30. “The main challenge today is really to encourage, put more incentives, in order for the consumer to buy in. Before adding more cars and bringing more technology, we just need to make sure we can sell the technology we already put into the ground.”
Ghosn maintained that EVs will eventually catch on in the world’s biggest market.
“I think it will happen,” he said. “But it will need probably more concerted action between government, local governments and car manufacturers.”


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VF Corp.’s management team forecasted healthy growth under its new five-year plan announced during Investor Day, its first since 2019. However, it slashed its outlook for the current fiscal year primarily due to continued underperformance by Vans and an expected greater promotional environment than anticipated in North America in the back half of 2022.
At the meeting held in Denver, CO, Matt Puckett, CFO, said several factors played a role in its reduced guidance. Vans had a weaker back-to-school season, and VF now expects Van’s sales to be down 10 percent in its fiscal second quarter ended September 30. Puckett said VF also lowered its expectations on Vans for the back half of the year based on back-to-school trends.
In China, VF sees improvement and expects to reach its forecast in the second quarter for the region and show a “quite significant sequential change” in the quarter versus the first quarter. Puckett added, “But we are expecting a bit of a slower recovery in half two than where we had modeled our business at the beginning of the year, given what’s going on in the environment in China today.”
Another factor in the company’s reduced forecast is building inventory across the global retail marketplace, including its largest market in North America. Puckett said, “As a result of that, we expect a more impactful promotional environment impacting the marketplace in the back half of the year.”
To a lesser degree, the continued strengthening of the U.S. dollar caused some revisions. As a result, VF now expects sales in its fiscal year ended March 2023 to grow in the 5 percent to 6 percent constant dollar range versus its previous outlook of at least 7 percent. EPS is now expected in the range of $2.60 to $2.70, down from $3.05 to $3.15.
Puckett added, “We will still generate a meaningful amount of growth, and we will still have healthy overall margins and cash generation.”
Shares of VF closed at $32.66, down $2.41, or 6.9 percent, on Wednesday.
During the meeting, VF’s management focused on its new growth plan that calls for mid-to-high single-digit revenue growth and high-single to low-double-digit earnings growth over the next five years. VF Chairman, President and CEO, Steve Rendle said that while Vans, its largest brand, is “not achieving what we know it’s capable of,” VF has “returned to growth, and there’s broad-based momentum across our portfolio.”
“This is a very exciting time for VF,” added Rendle. “While we have one of our key brands not achieving its potential, every one of our other brands, the other 11 brands, are achieving at or greater than their commitments.”
The revenue growth rate is slightly higher than the 5 percent CAGR achieved in the three-year period ended March 31, which was impacted by the pandemic and the slowdown at Vans. In the three-year period ending FY19, the CAGR growth rate was 16 percent.
North Face Targeting High-Single To Low-Double Digit Growth
Among major brands, the strongest growth over the next five years is expected to come from The North Face, with the brand’s five-year CAGR expected to be high-single to low-double-digits in constant dollars.
Nicole Otto, who in July replaced the retiring Steve Murray as global brand president, The North Face, provided a broad look into the brand’s journey since being acquired by VF in 2000 when it had sales of about $200 million. Sales reached $3.3 billion in FY22.
From 2000 to 2016, The North Face went through a period of hyper-growth as sales expanded 22 percent on a CAGR basis. Sales slowed to a 4 percent CAGR during a product reset from FY14 to FY17 but have regained momentum in recent years with a 7 percent CAGR over the last five years.
In the future, Otto, formerly VP of Nike Direct North America, said The North Face would look to continue to leverage its leadership and authenticity in the outdoor category to gain share to be the world’s leading outdoor brand.
A strong innovation pipeline and connecting with its “Progressive Explorer” consumer is expected to help the brand continue to win in core categories such as snow and outerwear. Faster growth is predicted in underpenetrated spring and summer categories. Sales are expected to triple over the next five years in footwear and the hike/trail/active segment.
Higher growth is expected in DTC through owned-doors expansion across regions and enhanced digital capabilities. By region, The North Face will look to accelerate recent momentum in its U.S. business. The goal by FY27 is to have sales split between DTC and wholesale and similarly in the Americas and International.
Vans Targeting Mid-Single-Digit Growth
Vans is expected to show mid-single-digit growth on a CAGR basis from FY22 to FY27. Kevin Bailey, who returned to the role of president of Vans in March 2022, noted that Vans had grown at a 14 percent CAGR since VF acquired the skate brand in 2004 through FY22. Sales were $4.2 billion last year.
Bailey, president of Vans during one of its hyper-growth periods from 2009 to 2016, said Vans’ revenue growth has slowed because the brand became dependent on a rigid classics icon management strategy. Continued style adaptations and innovation are planned to deliver greater diversification and capture broader lifestyle trends in the marketplace.
Vans will continue to look to build heat through Pinnacle products and distribution, along with collaborations. By channel, outsized digital growth and store productivity increases will be a focus.
Timberland Targeting Mid-Single-Digit Growth
Susie Mulder, global brand president, Timberland, said the brand had sales of $1.8 billion last year, benefiting from a strong recovery in the Americas region in 2021 after the pandemic’s impact. Over the last year, other positives for the brand included accelerated growth in apparel, digital and its Pro work range.
In the future, Timberland will further strengthen its connection and engagement with its “adventurous doer” consumer with its “no work, no outdoor, no story” campaign and ones planned to celebrate its 50th anniversary.
Timberland sees an opportunity to build a more relevant women’s business. By channel, Timberland will look to drive outsized digital growth while delivering consistent wholesale performance and elevating the experience in DTC stores. Another priority for Timberland is delivering balanced results globally, with all regions consistently contributing to higher revenue.
Among other brands, Dickies is expected to drive high-single-digit growth on average over the next five years. Sales reached about $800 million in FY22.
Supreme To Take Goodwill Charge
Among its smaller brands, Supreme’s five-year revenue CAGR is expected to high-single to low-double-digits in constant dollars. Mulder, who also oversees Supreme, said growth drivers include diversifying product and raising brand awareness. VF acquired the streetwear label in December 2020.
VF nonetheless said it expects to record a non-cash charge during Q223 in the range of $300 million to $450 million related to Supreme’s trademark and goodwill values during its second quarter ended September 30. VF said higher interest rates and foreign currency fluctuations are expected to negatively affect the estimated fair values.
VF’s emerging outdoor brands, including Altra, Smartwool and Icebreaker, are projected to deliver five-year growth on a CAGR basis in the mid-to-high-teens percent in constant dollars. VF’s other brands include Eastpak, JanSport, Kipling, and Napapijri.
By region, the Americas is expected to generate mid-single-digit growth on a CAGR basis over the next five years. Faster growth is expected internationally, with international expected to expand to half of the sales by FY27. High-single to low-double five-year CAGR growth is expected for both the EMEA and APAC regions.
By channel, DTC digital is expected to see the fastest growth with a low-double-digit CAGR to represent 35 percent of revenues by FY27. DTC stores and wholesale are both expected to increase in the mid-single- digits on a CAGR basis.
Operating margin is expected to reach approximately 15 percent by FY27, representing a low double-digit 5-year operating profit CAGR in constant dollars, driven by gross margin expansion and SG&A leverage. Margin expansion is expected to be driven by region and channel mix evolution, leveraging scale, speed, and agility and VF’s strong brands with continued pricing power. SG&A leverage is projected to be driven by continued strong cost discipline and better resource allocation and come despite planned brand investments.
EPS is expected to grow at a five-year CAGR of high-single to low double-digit percent (in constant dollars) against FY22 adjusted EPS of $3.18.
FY23 Financial Outlooks Lowered
VF expects Q223 revenue to be up low-single-digit percent in constant dollars and adjusted EPS in the range of 70 centsto 75 cents. Wall Street’s consensus estimate for the second quarter had been $1.00.
For the full fiscal year, the revised outlook includes the following:
- Total VF revenue is expected to be up about +5 percent to 6 percent in constant dollars versus its previous outlook of at least +7 percent.
- Vans brand revenue is expected to be down mid-single-digit percent in constant dollars versus ots previous outlook of up mid-single-digit percent.
- The North Face brand revenue is expected to deliver at least low double-digit percent growth in constant dollars versus its previous outlook of up low double-digit percent.
- Adjusted gross margin is expected to be down approximately 50 basis points versus its previous outlook of up slightly.
- Adjusted operating margin is expected to be approximately 12 percent versus its previous outlook of approximately 13.2 percent.
- Adjusted EPS is expected to be in the range of $2.60 to $2.70, versus $3.18 in the prior year and compared to its previous outlook of $3.05 to $3.15.
- Adjusted cash flow from operations of approximately $1.0 billion, versus its previous outlook of roughly $1.2 billion, is anticipated.
- Capital expenditures are expected to be approximately $240 million versus its previous outlook of about $250 million.
Photo courtesy VF/The North Face

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Shakopee, MN–Remote Technologies Inc. (RTI), has entered into a distribution agreement with Invision UK. Catering to the high-end consumer electronics and home automation markets, Invision UK will serve as RTIs exclusive international distributor in the UK and Ireland effective June 1.
We are pleased to join the premier group of manufacturers that Invision already represents, said Pete Baker, vice president of sales and marketing at RTI. Invision is a well respected leader in home technology distribution in the UK and has a proven history of success growing brand awareness for the companies it represents. We have no doubt Invision will have great success delivering RTIs award-winning line of control products to the professional Integrators in the UK and Ireland, and we look forward to a lasting relationship with them.”
We are very excited about the addition of RTIit couldnt have happened at a better time, said Steve Beahan, Invision UK managing director on the distribution agreement. RTIs control systems fit superbly alongside our existing home technology portfolio. Offering control solutions for the residential, commercial and marine markets, RTIs award-winning products are uniquely designed to meet the needs of the professional AV installer while providing a simple user interface for the end-user.
In a seamless transition to customers, Invision UK will replace RTIs previous U.K. distributor, Aventure.


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New laws and regulations are continually introduced in the CBD industry. This can make purchasing CBD a little confusing, but there are a few things you can do to make your shopping experience straightforward and easy.
Online stores usually have better deals than those found in-store — offering quality products for less money.
Is Marijuana Legal in Arkansas?
Once you have obtained a medical marijuana license, you may possess up to 2.5 ounces for personal use. Unfortunately, it’s currently not possible to grow marijuana at home if you live in Arkansas.
CBD products found online are generally less expensive and more reliable than the products found in-store. However, remember to ensure a third-party lab double-checks your products.
Arkansas is slowly making progress with marijuana. It’s possible to purchase CBD legally in the state, but you are likely better off doing so online, rather than chasing down a local supplier.
CBD and CBD products are also available in stores throughout Arkansas, including smoke shops, convenience stores, health food stores, and shops that specialize exclusively in CBD. When purchasing from a shop, especially if it’s a CBD specialist, you can typically receive help and expertise from a worker. Explain what you’re looking for and your reasons for consuming CBD and they can point you in the right direction.
Cannabidiol is the cannabis plant’s second-most-prevalent cannabinoid behind THC. Generally speaking, while both THC and CBD are psychoactive, THC produces marijuana’s intoxicating effects while CBD does not.
Broad spectrum means that the product contains CBD and terpenes, but has undergone additional processes to strip out any THC.
The Farm Bill also granted the U.S. Food and Drug Administration (FDA) with the power to regulate CBD product labeling, therapeutic claims, as well as its use as a food additive or dietary supplement. The FDA has taken the stance that hemp-derived CBD may not be added to food and beverages, nor marketed as dietary supplements.
Where to buy CBD in Arkansas
CBD stands for cannabidiol, a non-intoxicating substance found in cannabis. Photo by: Gina Coleman/Weedmaps
While the FDA has begun a process of reevaluating its stance on such CBD products, it has yet to revise its rules or specifically regulate CBD products, leading to further confusion. The FDA has been strict when it comes to health claims and content that could be construed as medical advice about CBD.
Even though hemp strains don’t produce enough THC to cause intoxication, all types of cannabis, including hemp, were made illegal under the 1970 Federal Controlled Substances Act. The legislation swept all forms of cannabis into the Schedule 1 category, which is defined as a substance with a high potential for abuse, no accepted medical use, and a likelihood for addiction.
What is CBD?
A document released by the ASPB on Aug. 31, 2018, aims to clarify many of the state’s most important rules for CBD. First, it makes the distinction between industrial hemp and cannabis, or what is popularly called marijuana. Aligning with federal law, Arkansas considers anything with 0.3% THC or more by weight to be illegal, while anything with less than 0.3% THC by weight is considered “industrial hemp” and therefore, products derived from these plants are considered legal.
This provision allows for the legal sale, possession, and consumption of CBD in Arkansas — as long as both the hemp plant and resulting CBD product contains less than 0.3% THC. The ASPB also requires people who want to grow hemp plants or produce CBD products to be licensed by the state. As of June 2019, the state had approved 80 hemp farmers to grow hemp plants. These farmers operate across at least 42 counties and currently occupy nearly 2,000 acres, or 809 hectares, of cropland.


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A woman allegedly attacked a J.C. Penney store employee with pepper spray after stealing multiple items of clothing, according to recently released surveillance video.
The video of the December 20 incident in the Greenwood Park Mall in Greenwood, Indiana, shows the woman running away with several items of clothing after a store employee confronted the alleged thief for shoplifting.
The suspect, in turn, pepper-sprayed the employee to make a quick getaway with the items, according to a police report.
A J.C. Penney employee told police that she witnessed several suspects coming out of the elevator and stuffing clothes into a black bag. When one of them headed for the exit, the alarm went off.
“As the loss prevention officer approached the first two who had concealed the merchandise, the third one came up and sprayed her in the face with some kind of chemical mace,” Matt Fillenwarth, assistant chief of police for Greenwood Police, told WISH.
The suspects dropped more than $1,000 worth of clothing in their struggle to get away but managed to run off with two pairs of designer jeans.
Neither the store employee nor the loss prevention officer were injured in the incident.
Investigators are still searching for the unidentified suspects, who remain at-large. Other instances of shoplifting and spraying employees with pepper spray have taken place recently.
In Texas, a woman was arrested after allegedly shoplifting from Target, spraying two employees with mace, and assaulting one of the employees. She was charged with robbery and assault and is being held on $20,000 bond.


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Snapchat is expanding into the world of mapping.
A new feature announced on Wednesday called Snap Map, will allow the app’s 166 million users share their locations with their personal Snapchat communities, by tapping on a nearby location to see friends sharing videos from specific localities or occasions such as concerts. The feature is cited as being less about “…where am I, it’s about where are my friends and what are they up to? It’s not about figuring out how to get to your destination, but about discovering where you want to go” according to Snapchat product designer Jack Brody.
Beyond the friend-finding capability, adding maps opens up new advertising opportunities for Snap. Users will also be able to browse photos and videos from specific locations around the world, including breaking news events.


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THERE is no doubt that among the hardest-hit sectors of the last two year’s lockdowns were salons. According to the Department of Trade and Industry, an estimated 400,000 employees in over 35,000 salons across the country lost their jobs due to the lockdowns. How sad is this?
The salon in Katipunan that I’ve frequented for years closed in 2020, just months after the pandemic began. The hairstylist who used to do my hair is lucky to have the resources to service his clients in the comforts of their home. Let me tell you that this isn’t easy. You’d need, aside from the usual tools like scissors and blow dryers, stuff like extension cords and folding chairs, not to mention the expenses involved in lugging these around.
It is with these challenges in mind that the L’Oreal Group has developed an innovative social commerce platform to support its salon partners across the country. Called L’Oreal Salon Shop, the platform allows customers to consult salon experts and hairdressers to advise them with the best suitable products and services for their hair needs, shop hair-care products by top-performing professional hair brands such as L’Oreal Professionnel, Kerastase, Matrix and Biolage which can be delivered straight to their homes and schedule in-salon appointments for their preferred salon services and treatments.
“Salons and hair stylists were the hardest hit in this pandemic. This platform is our way of being ready and adapting to whatever will happen, and a way of forging meaningful interaction between customers and hairdressers,” said Cary Co Choa, general manager for L’Oreal Luxe and Professional Products Division at L’Oreal Philippines, during a media roundtable.
“Through L’Oreal Salon Shop, customers can consult salon experts, talk to their favorite hairdressers, book their salon appointments in their favorite salons and shop their hair-care products as well, which gets delivered to your homes.”
The digital platform initiative is built on four pillars: digital infrastructure, digital upscaling, consumer relevant promotions and raising awareness.
Choa said that through the platform, the salons can leverage on the digital infrastructure that L’Oreal has built and will maintain to create meaningful interactions between hairstylists and customers.
“The dream is really to build a social commerce channel for the salon industry in the Philippines. We will not build it alone. We will build it alongside our salon partners and our hairdressers. We will teach them the right skills and help them reach more consumers,” said Lota Jamer, commercial and transformation director of the brand’s Professional Products Division.
Accredited L’Oréal Salon Shop partner salons in Metro Manila as of December 2021 include Emphasis Salon and Azta Urban Salon. L’Oreal intends to partner with more salons in the first quarter of 2022.
Azta Salon was one of the salons hardest hit by the pandemic lockdowns. All their 11 branches are located inside malls. Luckily, they did not have to close any of their branches and now, their loyal customers are slowly coming back.
“Thanks to L’Oreal because I believe this will really help us. The web site can help us provide a more personalized approach when it comes to hairstylist-customer interaction,” said Azta Salon managing director Mel Velhagen.
“We were doing okay but in a snap, things changed. We weren’t prepared for the pandemic. This website can help us reach a wider target market and tap more clients,” said My Cantos, marketing head of Emphasis Salon in Rockwell.
To browse all the products and services of L’Oreal Salon Shop and schedule an appointment, visit www.lorealsalonshop.com.ph.


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Tesla Inc is recalling more than 475,000 of its Model 3 and Model S electric cars to address rearview camera and trunk issues that increase the risk of crashing, the U.S. road safety regulator said.
Tesla shares were down 1.1% in premarket trading on Thursday.
The U.S. electric vehicle manufacturer is recalling 356,309 2017-2020 Model 3 vehicles to address rearview camera issues and 119,009 Model S vehicles due to front hood problems, the National Highway Traffic Safety Administration (NHTSA) said.
U.S. regulators open safety investigation into 580K Tesla vehicles
The total number of recalled vehicles is close to the half a million vehicles Tesla delivered last year. Tesla could not be reached for comment.
For Model 3 sedans, “the rearview camera cable harness may be damaged by the opening and closing of the trunk lid, preventing the rearview camera image from displaying,” the NHTSA said.
For Model S vehicles, front hood latch problems may lead a trunk to open “without warning and obstruct the driver’s visibility, increasing the risk of a crash,” Tesla said.
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Tesla is not aware of any crashes, injuries or deaths related to the issues with its Model 3 and Model S cars, the NHTSA said.
Tesla is being investigated by the NHTSA over other issues. The NHTSA had opened a probe on 580,000 Tesla vehicles over the automaker’s decision to allow games to be played on car screens while they are in motion.
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Tesla has subsequently agreed to stop allowing video games to be played on vehicle screens while its cars are moving, according to the NHTSA.
In August, the NHTSA opened a formal safety probe into Tesla Inc’s driver assistance system Autopilot after a series of crashes involving Tesla models and emergency vehicles.
Under pressure from NHTSA, Tesla in February agreed to recall 135,000 vehicles with touch-screen displays that could fail and raise the risk of a crash.
— Reporting by Hyunjoo Jin in San Francisco and Akash Sriram in Bengaluru; Additional reporting by David Shepardson in Washington
Source link : CNN


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According to Martin Bulter, consumer convenience, IT security and green IT are just some of the ICT trends set to emerge during 2010. He also feels that smartphones have, and are changing how and why South African’s access the Internet. As a result of this, companies across the country are introducing mobile alternatives to their fully fledged websites
Martin Butler, Information Systems Management lecturer spoke at the University of Stellenbosch Business School (USB). He held a talk entitles ‚New ICT technologies – a business perspective on their impact in 2010 and beyond,’ which was held at the USB as part of its series of Leaders Angle talks.
‚Increasingly we are seeing companies that once occupied very different spaces such as telecoms, entertainment and search engines beginning to encroach on each other’s markets,‚ says Butler.
He says companies such as Panasonic and LG are already launching televisions with Skype’s Voice over Internet Protocol (VoIP) capability built in, while Google recently launched a smartphone and has also moved into Microsoft’s Office space with Google Docs. Most recently, Apple moved into the eBook space with its iPad.
Butler cited a number of trends that he believes will shape the ICT industry over the next twelve months, including:
¬∑ Concepts that provide extreme convenience for consumers,
¬∑ Increased focus on security of IT systems
¬∑ Products that provide more bang for the same buck
¬∑ The emergence of Green IT
Butler says the concept of Green IT is one that will be playing a much bigger role over the next year and beyond. ‚Environmental awareness and developing greener technologies is something that is becoming an important focus for many businesses in the current climate,‚ he says.
He says that in the past many firms have preached, but not practiced the value of green issues, something that he expects to change as consumers and businesses are becoming more socially aware.
‚In the future these companies will take Green IT much more seriously. In fact a recent study found that within three years most people will start looking at levels of energy consumption as part of their decision making process when buying a new laptop.‚
Butler also says the emergence of devices such as Apple’s iPhone and other mobile smartphones have changed the way people access the Internet. He says a survey by Gartner has forecast that by 2013, mobile phones will overtake PCs as the most common web access device.
‚Mobile applications are a new development that are changing the way we access, and the reasons for accessing, the Internet. As a result, more businesses are redesigning their content and launching .mobi versions of their websites.‚
Butler highlighted two recently homegrown concepts ‚ Amba-Afrika and Afridoctor – that have been hailed as great moves forward within mobile applications.
Amba-Afrika is a multilingual application that can translate any of the official 11 languages in SA. Afridoctor is a mobile health clinic that provides instant access to vital medical information and enables people to send through their symptoms and receive advice back.
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The union cabinet today approved a proposal to allow 100 per cent fdi or foreign direct investment through automatic route in single brand retail currently, fdi up. Foreign direct investment (fdi) has always been a matter of controversy in india whether fdi in retail sector in india will. Read more about fdi in retail: congress accuses bjp of deception on the issue on business standard in 2011, the bjp had staunchly opposed the congress-led. According to recent reports, india's economy is showing signs of a significant revival with several economic advantages coming together at a time. Making fdi in india's retail business (ie fdi in indian retail) is wiser and more profitable to global jurix, than fdi in retail sector of other countries.
I think it is important to look at the potential positives and negatives of fdi in multi-brand retail as otherwise it will be a situation of generating too much heat. The measures taken by the government are directed to open new sectors for foreign direct investment 100% fdi under government route for retail trading. In a statement issued, the government said the move was to liberalise and simplify the fdi policy to provide ease of doing business in the country. Name: v karthik varma, vertical: vridhi , date: 20/09/2014 fdi in retail fdi: the foreign direct investment means cross border investment made by a.
The cpi-m opposed the decision to allow foreign airlines to invest up to 49% in air india, and denounced the decision to allow 100% fdi through the automatic route in single brand retail. Retail fdi in india | towards a brighter tomorrow 04 foreign direct investment (fdi) in india has been on the rise in the past few years especially in the retail, e. The union cabinet has approved 51% fdi in multi-brand retail and raised the cap on fdi in single-brand retail from 51% to 100% partner & national leader - retail and. Fdi in retail 97 likes fdi in retail sector would only facilitate flow of indian money to foreign countries and the local retail business would collapse.
Fdi in retail: find latest stories, special reports, news & pictures on fdi in retail read expert opinions, top news, insights and trends on the economic. Latest reports on foreign direct investment in multi-brand retail. Foreign direct investment in india’s retail bazaar: opportunities and challenges anusha chari tca madhav raghavan university of north carolina. This is the group discussion on is foreign direct investment (fdi) in retail sector good for india.
Fdi in retailing written by: wwwfibre2fashioncom fdi can be defined as a cross border investment, where foreign fdi in the retail sector. In a bid to increase overseas investment in india, the government has approved 100% fdi through the automatic route in single brand retail. Government retains 51% fdi in multi-brand retail, which bjp had opposed up for foreign direct investment on fdi in multi brand retail and on other.
Apart from being a critical driver of economic growth, foreign direct investment (fdi) is a major source of non-debt financial resource for the economic development of india foreign. After much speculation around potential liberalisations of the foreign investment regulations governing the retail sector, the government gave its nod on wednesday to allow up to 100. New delhi: in big bang fdi reforms ahead of the budget, the government on wednesday permitted foreign airlines to invest up to 49 percent in debt-ridden air india, and eased norms for.
The cabinet approval would help more than 200 fashion and apparel brands who are lined up to enter india, including international labels such as avva, colin's, damat, tudba deri and dufy. With the narendra modi government allowing 100% fdi in multi-brand retail, the indian consumer will have more brands to choose from. Allowing 100 per cent foreign direct investment (fdi) in single-brand retail via the automatic route might not be enough to get global giant apple to set. Foreign direct investment (fdi) in retail was supposed to be the government's signal that it was not paralysed or lethargic the reform would have signaled to.Download Fdi in retail


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Continuous his disbelief with regards to new-age firms, Potential Team Boss Kishore Biyani said on Friday that will start-ups are too promising small to produce work. He or she had been communicating in the Economist Indian Smt inside the cash.
He explained that a lot of start-ups overlook the bigger image as well as work with a ‘smaller canvas’.
“I think Ninety days percent in the start-ups haven’t any this means at all; these are junk. I do believe the fabric involving start-up must be greater.”
There are plenty of people who are performing place, he or she extra. “Let’s take the enterprise regarding airport taxi gathering or amassing. The particular income of these firms in four-five years may not be more than Urs Three,Five-hundred crore. They aren’t setting up a brand new economy any kind of which usually approach.”
He explained the majority of the start-ups are usually creating a target to sell by themselves. That maybe what is taking place to many people because massive India Business News businesses are overpowering major e-commerce companies, Biyani additional. “They are merely developing start-ups to sell these; there is absolutely no long-term aim. Itrrrs this that should alter.”
He stated start-ups that are upon for financing rounds in any case sell nearly 70 % of the organizations on their traders. “I think the majority of the start-up organizations are backed simply by venture capitalists; if they are developed, the large companies would certainly purchase them out.”
Considering huge along with long-term needs to be the objective, Biyani mentioned. “They are typical really vivid as well as talented individuals; consequently, they ought to focus on a larger fabric and big concepts. There exists range with regard to enlargement to another level altogether.”
Last month, Biyani had suggested his or her online retail enterprise Big Bazaar One on one could possibly be not open because enterprise became unviable. Placed in The year 2013, Huge Bazaar One on one is definitely an aided e-commerce endeavor of the Future Team using 1,1000 franchises. That acquired promises to enrol 55,500. “I possess tried e-commerce four times in my lifestyle. We’ve opened and also shut Upcoming Bazaar. We are going to near Huge Bazaar Primary in a 7 days,” he had mentioned.
Nevertheless, Biyani upon Friday declared that whilst the moment just isn’t directly to operate an e-commerce organization, they may be disruptors later on. “We have developed Fab Provide, we are looking to be a disruptor. It’s possible to often accomplish that and we will undertake it more once the occasion is correct. Nowadays it is not viable to run a good e-commerce organization,Inches he was quoted saying.
The corporation will certainly nonetheless keep it’s omnichannel approach. They have recently connected with web cell budget participant Paytm to sell the products from the electronic digital wallet’s industry.


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CSafe Global Launches Cell & Gene Cold Chain Packaging
CSafe will demonstrate the company’s cell and gene thermal packaging at the Phacilitate Leaders World conference in Miami J21-24 January
“As partner to those in the most difficult portion of the cold chain, CSafe is committed to innovation, continuous improvement and unparalleled customer service. This is especially important for the cell and gene market given the critical nature of these shipments for patients in need,” said Emilio Frattaruolo, vice president, innovation, passive solutions.
Source: Global Cold Chain News


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China's industrial production grew by a robust 17.4% in April from a year earlier, reflecting rebounding exports and the underlying strength of the world's fourth-biggest economy.
Against a backdrop of flush liquidity and runaway stock and property prices, data in recent days could lead Beijing to raise interest rates further in the coming weeks and take other steps to avert potential overheating in the economy, economists say.
Production of everything from coal to textiles decelerated only slightly from March's 17.6% annual rise and the 18.5% increase logged in January and February combined, but remained elevated in line with the country's broader economic activity.
"I think the number confirms robust growth, especially in the export sector," said Ben Simpfendorfer, a strategist with Royal Bank of Scotland in Hong Kong. Demand for factories to crank out more goods has soared as overseas markets have maintained their appetite for Chinese exports despite gradual appreciation in the yuan.
Solid consumption growth within the nation's borders, as incomes have climbed, has also stoked resurgent factory output this year after tightening measures dampened industrial production growth in the final three months of 2006.
Wednesday's numbers follow other government data releases that showed China's trade surplus widening to $16.9 billion in April from $6.9 billion in March and annual lending and credit growth remaining uncomfortably high.
Analysts were divided over whether the modest easing in industrial production growth pointed to a possible deceleration in the broader economy. Economists polled by Reuters had on average expected a rise of 17.5%.
Chen Wenzhao, an analyst with Changjiang Securities in Shanghai, said that the latest figure may suggest the economy could slow modestly in the second quarter.
But Li Ruoyu from the State Information Centre, a think-tank under China's cabinet, said that the jury was still out.
"The slowdown in industrial production in April was very modest, and it is still too early to say whether the economic growth will slow in the second quarter," Li said. "Considering the strong growth in consumption and exports, industrial production will remain strong in the coming months," she said.


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Robinson joins the primarily unscripted studio after spending seven years at ITV Global Entertainment where she served as sales manager. At Zodiak, Robinson will handle selling Zodiak Rights reality skeins to both the U.S. and Canada.
Robinson will be based in Zodiak’s Los Angeles office and report to Glen Hansen, senior veep of sales, acquisitions and co-productions, North America.
“Janet’s knowledge and experience managing sales revenues for strong entertainment and factual brands will be invaluable as we continue to expand our business activities in North America,” Hansen stated.
Zodiak Rights was previously stationed only in London and Paris, before Hansen launched the Stateside office last year. Since the branch’s inception, Hansen has secured content partnerships with indie shingles including T-Group Prods., Asylum Entertainment and Langley Prods.


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Global Leaders Take the Stage at MWC Shanghai 2019
The GSMA today announced the newly introduced Digital Leaders Programme, the first event speakers, Masterclass Programme and new exhibitors and partners for MWC Shanghai 2019, taking place 26 – 28 June 2019 at the Shanghai New International Expo Centre (SNIEC). MWC Shanghai 2019 is set to attract more than 60,000 professionals and 550 leading companies from over 110 countries and territories across the mobile ecosystem and adjacent sectors.
GSMA Launches Digital Leaders Programme
The new Digital Leaders Programme is a C-Level programme that will bring business leaders from across the broader mobile ecosystem and vertical industries to tackle common challenges in the new digital era, and to advocate the best way to deliver future services to consumers. The Digital Leaders Programme will be launched on 11 April at the Formula 1 Shanghai International Circuit, senior executives from CITIC Telecom, Foxconn, HTC, Huawei, Jones Lang Lasalle China, McKinsey Digital in China, Nokia Bell, Qualcomm, Shanghai Mobile and ZTE, among others are confirmed to attend the launch event. In addition, a series of CEO activities including close-door roundtables, keynote presentations and networking will be held on 26 June, the first day of MWC19 Shanghai. More information about the programme, visit: www.mwcshanghai.com/experiences/digital-leaders-programme/.
“To deliver the full potential of Intelligent Connectivity and to navigate the ever changing technology landscape, we need new digital leaders from all industries to help shape our vision of the future and to provide direction,” said John Hoffman CEO GSMA Ltd. “At MWC19 Shanghai, the GSMA is committed to convening influential global executives through Digital Leaders Programme where we will work together to make a positive impact on the digital future by reaching millions of people across the world with life-enhancing services.”
Global Leaders and CEOs Headline MWC19 Shanghai Conference Programme
The MWC19 Shanghai conference programme is held over three days in Hall N5 of the SNIEC with global leaders and CEO speakers from more than 20 countries and regions. Topics include 5G, artificial intelligence, banking and telecoms convergence, blockchain, data trust and security, global devices, future mobility and smart cities, among others.
Returning for a second year, The Leaders Stage programme will look into wide-ranging trends that are shaping the mobile future and impacting citizens’ everyday lives, including digital business, humanitarian innovation, retail, tourism and travel.
Confirmed keynote speakers:
- Hooi Ling Tan, Co-Founder, Grab Group
- Mats Granryd, Director General, GSMA
- Ken Hu, Deputy Chairman, Huawei
- Greg Wyler, Chairman, OneWeb
- Sigve Brekke, President & CEO, Telenor Group
- Xu Ziyang, CEO, ZTE
CEOs at the Conference Summits and Leaders Stage:
- Gilad Garon, CEO, ASOCS
- Thu Nguyen, CEO & Co-Founder, Christina’s
- Suresh Sidhu, CEO, edotco
- Francesco Lentini, Founder and CEO, Eloisa Technologies
- George Palamarizis, CEO, Erga Plus
- Nyein Chan Soe Win, CEO, Get
- Suren Pinto, CEO, Global Wavenet
- Lex Greensill, CEO, Greensill Capital
- Daehoon Kim, CEO, Iritech
- Aakash Ganju, CEO, Saathealth
- Glenn Lurie, CEO, Synchronoss
- Ling Wu, Founder and CEO, TBCASoft, Carrier Blockchain Study Group
- Enshen Huang, Founder and CEO, Xeniro
- Charles Miller, CEO, Ubiquitilink
Other senior leaders from prominent companies will discuss key trends in the conference programme, including ABI Research, Blackmouth Games, China Mastercard, China Telecom, Cisco, Deloitte, DOCOMO, Ericsson, Forkast, Google, Intel, Klook, McAfee, NewH3C, Niometrics, Sterlite, Strelka, Syniverse, Turk Telekom, Vodafone, Xaxis, among others. For more information on the Conference Programme at MWC19 Shanghai, visit: www.mwcshanghai.com/conference-programmes/
INSEAD Provides Masterclass Programme for Business Leaders at MWC19 Shanghai
GSMA is partnering with INSEAD, one of the world’s leading graduate business schools with campuses in Asia, Europe and the Middle East, to provide the first Masterclass Programme at MWC19 Shanghai. Professor Thomas Mannarelli who specialises in innovation and leadership in organizations will be the instructor for this one-day programme. The Masterclass Programme is designed for middle to senior executives with responsibility to lead and implement changes in the organisations. Professor Mannarelli will guide the attendees through the challenges and opportunities they will face in the era of Intelligent Connectivity. Participants will gain a clear set of tools to create an action plan that they can execute in the workplace. For more information and application to the Masterclass Programme, please visit: www.mwcshanghai.com/experiences/learning/
Exhibition Showcases Mobile Innovation
MWC Shanghai will once again showcase innovations from the mobile industry, as well as adjacent industries. New confirmed companies including Giesecke+Devrient, IDEMIA, Imagination Technologies, Oppo, Spirent, Viavi Solutions and vivo representing devices, security, identity, testing and optical technologies. For more information on the 2019 exhibitor list, visit: www.mwcshanghai.com/exhibition/exhibitors/
New to MWC19 Shanghai, the Future Mobility Zone will demonstrate smarter, cleaner and safer intelligent vehicles and cities. Companies showcasing in the zone include Helix Technologies, Imagination Technologies and UROS, alongside Guangzhou Global International Exhibition (GIE) - one of the leading international organisers in the automotive industry which will jointly present the development of the future mobility ecosystem with a number of intelligent connected automotive enterprise partners, including Baijieteng Technology, DeePhi, MapKing International, STARCART Technology, among others.
The crowning technology showcase, the GSMA’s Innovation City, will put a spotlight on how Intelligent Connectivity, the combination of 5G, IoT, AI and big data, is impacting and improving the lives of people and enterprises around the world. Visitors will experience technology from partners including BICS, Huawei, MyFC and Shanghai Ratta Electronic Technologies, among others. For more information, visit: www.mwcshanghai.com/exhibition/gsma-innovation-city/
The International Smart City Expo – Shanghai Pudong will be co-located with MWC Shanghai for the fourth consecutive year. The International Smart City Expo will examine the creation and development of smart cities, with a focus on mobile technologies, Internet of Things, smart home, smart buildings and smart education and the benefits of these technologies for Shanghai citizens. For more information on International Smart City Expo, visit: www.mwcshanghai.com/exhibition/smart-city-expo/
Register and Get Involved at MWC19 Shanghai
Registration to attend MWC19 Shanghai is now open, for information on registration and pass types, please visit: www.mwcshanghai.com/attend/register/
For more information on MWC19 Shanghai, including how to attend, exhibit, partner or sponsor, visit www.mwcshanghai.com. Follow developments and updates on MWC19 Shanghai through our social media channels – follow us on Twitter at @GSMA and use #MWC19, get regular updates through our LinkedIn Showcase Page at www.linkedin.com/showcase/mwcshanghai/, and follow us on Facebook at www.facebook.com/mwcshanghai. In China, you can follow us on Sina Weibo http://weibo.com/mwcshanghai or search “GSMA_MWCS” in WeChat.
About the GSMA
The GSMA represents the interests of mobile operators worldwide, uniting more than 750 operators with nearly 400 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces the industry-leading MWC events held annually in Barcelona, Los Angeles and Shanghai, as well as the Mobile 360 Series of regional conferences.
For more information, please visit the GSMA corporate website at www.gsma.com. Follow the GSMA on Twitter: @GSMA.
For the GSMA
+852 2533 9956
+44 79 7662 4962
MWC19 Shanghai Press Office
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Tinubu Square Appoints Sophie Riottot as Group Sales Director19.6.2019 20:02:00 EEST | Tiedote
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C&C Group, the owner of Tennent’s and Magners, has appointed former Heineken UK managing director David Forde...
Noble Foods, the owner of The Happy Egg Co. and dessert brand Gü, has appointed Duncan Everett to the role of...
Nick Robinson has been named as the new CEO of Kerry Foods, the consumer foods division of global ingredient s...
Arla Foods has promoted Torben Dahl Nyholm to the role of chief financial officer, effective immediately.
Tony DeLio has been named CEO of PureCircle following the completion of the acquisition by Ingredion for the s...
Watercoolers Europe has appointed Robert Kadijevic as its new chairman, following the resignation of former ch...
Beam Suntory has appointed Greg Hughes as the new president of its North American division, effective from 1 January 2019. Read more
Premier Foods is in talks to sell its Ambrosia brand as the firm announced its CEO, Gavin Darby, is to leave the company in January. Read more
Seattle-based Darigold has appointed former Country Fresh Holdings executive Mark Garth as its new CFO and treasurer, effective from 27 November 2018. Read more
US-based snack brand Louisiana Fish Fry has appointed former McCormick executive Michael Morse as its new CEO, effective immediately. Read more
BrewDog has hired David Gates, the former managing director of Diageo Futures, as the new managing director of BrewDog Distilling. Read more
Snack company Alter Eco has appointed Mike Forbes as its new CEO as the firm’s co-founders shift their focus to establish the Alter Eco Foundation. Read more
Cargill has appointed a new chief financial officer and created a new leadership role for the company's Asia Pacific division. Read more
Hain Celestial has appointed former PepsiCo and Pinnacle Foods executive Mark Schiller as its new president and CEO, effective from 5 November 2018. Read more
The Coca-Cola Company has named Brian Smith as its new chief operating officer, a post which has been vacant since James Quincey became CEO last year. Read more
Nestlé has appointed Chris Johnson as the new CEO of its Asia, Oceania and Sub-Saharan Africa (AOA) division, effective from January 1 2019. Read more
© FoodBev Media Ltd 2020
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entry 11 September – enter now!


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Blue Diamond Resorts unveils a new adults-only resort in Cayo Cruz.
Blue Diamond Resorts Cuba has announced the grand opening of Sanctuary White Sands on Friday, March 1st, which was hailed by Travel Trade Caribbean as an "innovative addition" to the Canadian chain's collection of adults-only, all-inclusive properties.
This unveiling signifies a significant milestone for the hotel company, as Sanctuary Resort becomes its inaugural venture in the sought-after destination of Cayo Cruz.
Mohamad Fawzi, General Manager of Blue Diamond Resorts Cuba, expressed, "While our guests have long enjoyed distinctive all-inclusive experiences at our Grand Memories Resorts, relishing in the family-friendly ambiance of the Grand Memories area and the exclusive adult allure of Sanctuary, we identified a distinctive opportunity to tailor experiences for adults."
He further added, "We view this destination as the ideal backdrop to unveil our latest offering to the market through this exclusive adults-only resort."
Situated in Cayo Cruz, dubbed a "hidden gem in the Jardines del Rey archipelago" by Travel Trade Caribbean, Sanctuary White Sands boasts 528 rooms adorned with a modern aesthetic, some affording picturesque views of the garden, pool, or sea.
The resort features a diverse array of outdoor sports and activities, including water sports, along with four restaurants specializing in Mediterranean, Italian, Cuban, and international cuisines.
The management of Sanctuary White Sands underscored their commitment to "preserving the natural environment and rich cultural heritage of Cuba."
Blue Diamond Resorts continues to expand its presence in Cuba, where it currently manages 34 hotels, surpassing Meliá with 33 properties under its operation. Recently, the three newest and top hotels in the city of Holguín have been rebranded as Mystique Saratoga, a brand owned by the Canadian hotel chain.
Furthermore, the company, which also owns the Sunwing airline, has aggressively expanded in Cuba, exclusively managing the tourist destination of Cayo Largo del Sur, giving it unprecedented authority in the sector.
Additionally, plans are underway for Blue Diamond Resorts to take over the Hotel Colony on the Isle of Youth.
Despite challenges, including the Cuban tourism industry's struggle to rebound to pre-2019 levels, Juan Carlos García Granda, Minister of Tourism, remains focused on maintaining service quality, setting a target of attracting over three million tourists this year.
Since its inception in 2010, Blue Diamond Resorts has emerged as the Caribbean's fastest-growing hotel management company, boasting over fifty properties and more than 18,000 rooms across ten countries, with Cuba at the forefront of its portfolio.
All tourists planning to visit Cuba will be required to obtain a tourist card (visa) prior to their travels. This essential document can be conveniently obtained through the official provider website https://visacuba.com/. By securing the tourist card in advance, international travellers can ensure a smooth and hassle-free entry into Cuba, allowing them to fully enjoy their Cuban adventures without any delays or complications.


text: With a bid of HK$8,636,250 (approx. $1.1 million), Macallan has retaken the title of the world’s most expensive standard sized bottle of whisky sold at auction. The bottle of Macallan Valerio Adami 1926 60 year old was sold at Bonhams, Hong Kong on May 18th, 2018 shattering the existing record set by Yamazaki 50 year old in January. The bidder, with paddle number 666, set a new record hammer price of HK$7.05million (Bonhams adds a 22.5% buyer’s premium) considerably higher than the HK$3.6–4.5 million estimate. This is a staggering 371% higher than the previous record set at Sotheby’s, Hong Kong, which stood for 111 days. Japanese whiskies from Yamazaki and Karuizawa have held this record since 2015, with previous Scotch whisky record holders coming from Dalmore, Glenfiddich, and Bowmore. It’s been a long time coming for Macallan: a bottle of Macallan 1926 60 year old last held this record in 2001 when a bidder paid $21,874 in Glasgow.


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Thornwood, NY—The supervisory boards of Schott AG and Carl Zeiss AG have again each elected Dr. Dieter Kurz as their chairman. Dr. Kurz has chaired the supervisory boards of the special glass manufacturer as well as the optics and optoelectronics company since 2012.
Dr. Kurz is also chairman of the shareholder council of the Carl Zeiss Foundation, the sole owner of the two companies.
“We are pleased that we can continue the good and successful collaboration with Dr. Kurz,” said Dr. Frank Heinricht, chairman of the management board of Schott AG.
Prof. Dr. Michael Kaschke, president and chief executive officer of Carl Zeiss AG, added: “We are pleased that, with its reconfirmation of Dr. Kurz, the supervisory board has opted for stability, hence creating a good foundation for further successful years ahead.”
Dr. Dieter Kurz was president and CEO of Carl Zeiss AG from 2001 to 2010. Since 2012, he has been chairman of the shareholder council of the Carl Zeiss Foundation, which acts in the economic interests of the foundation vis-à-vis the two groups of companies in its ownership.
Carl Zeiss AG
The supervisory board of Carl Zeiss AG consists of 16 members, half of whom are representatives of the sole shareholder—the Carl Zeiss Foundation. The other half are representatives of the workforce, in accordance with the provisions of the German Codetermination Act.
Zeiss is an internationally technology enterprise operating in the optics and optoelectronics industries. The Zeiss Group develops, produces as well as distributes camera and cinema lenses, binoculars, measuring technology, microscopes, medical technology, eyeglass lenses and semiconductor manufacturing equipment. zeiss.com
Schott is an international technology group in the areas of specialty glass and glass-ceramics. The company has more than 130 years of development, materials and technology expertise. It offers a broad portfolio of high-quality products as well as intelligent solutions. In addition, the parent company, Schott AG, has its headquarters in Mainz, Germany. It is also solely owned by the Carl Zeiss Foundation. us.schott.com


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The new iPhone SE is powered by an A9 processor — just like the iPhone 6S and 6S Plus that Apple introduced in September. The powerful internals represent a major leap forward compared to the aging iPhone 5S, as now the company's smaller-sized handset is essentially on equal footing with the larger iPhones. 9to5Mac has for weeks been reporting that this would be the case; as expected, the iPhone SE also features an M9 chip for motion tracking and to allow users to say "Hey Siri" to activate Apple's personal assistant.
Another huge similarity between iPhone SE and the iPhone 6S is the camera; both contain the same 12-megapixel sensor that's capable of recording 4K video and shooting Live Photos. There are differences between the products elsewhere, however. The new 4-inch iPhone doesn't have a pressure-sensitive display or 3D Touch like Apple's bigger phones. But the iPhone SE does support Apple Pay, which can be used to make tap-to-pay purchases at retail stores and also in-app purchases.
introducing the new iPad Pro


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Maruti Suzuki is launching its most affordable car Alto’s next-generation model 2022 Alto K10, this month. Before the launch of the new Alto, all the details of this hatchback are coming out one by one.
As per the reports, the new Alto K10 can be offered in Look 11 variants of 4 trim levels like STD, LXi, VXi and VXi+ and will have 7 manual transmissions and 4 automatic transmission options. Along with the better look in the new Alto, many more unique things will be seen, which you also know about.
According to all the new information that is coming out about the 2022 Maruti Alto K10, this hatchback will be 3530mm long, 1490mm wide and 1520mm high. Compared to the current model, the next generation Alto will be longer and taller and come with better space.
According to media reports, the weight of the 2022 Alto K10 will be 1150 kg. This entry-level hatchback will get a 998cc naturally aspirated K10C petrol engine, capable of generating 66 bhp power and 89-newton meter torque. The new Alto will come with a 5-speed manual and AMT gearbox option.
Let us tell you that there will be a lot of changes in the exterior and interior of the 2022 Maruti Alto. According to media reports, along with a fresh design, the new Alto will see many unique features, including a more prominent front grille, giant headlamp, new taillamp, better rear bumper and new alloy wheels.
At the same time, talking about the interior and features, it will get a 7-inch touchscreen infotainment system with Android Auto and Apple Car Play support, a semi-digital instrument console, keyless entry, engine start/stop button along with many exceptional standard and safety features.
The can is expected to launch in the Indian market on August 18th, 2022.


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Energy supplier Octopus Energy has launched the “first” mass-market vehicle-to-grid (V2G) tariff in the UK, guaranteeing free charging for its electric vehicle (EV) customers.
The tariff, named Octopus Power Pack, will be able to save the average EV driver up to £850 per year in charging costs compared to a standard variable tariff.
Octopus Power Pack, currently in beta, uses V2G technology and Octopus Energy’s tech platform, Kraken, to balance charging and discharging back to the grid during periods of peak demand.
The tariff works as a bolt-on that separates charging from the rest of the home and runs alongside the customer’s regular import tariff. Customers can also apply the financial benefits of solar energy generation as an addition to the Octopus Power Pack savings.
The energy supplier recently reached over 200,000 customers signed up to EV-optimised tariffs, namely Intelligent Octopus Go and Octopus Go, which means their customers now account for one in five UK EV drivers.
Alex Schoch, head of flexibility at Octopus Energy, said: “EVs are going to be a major lever in our future flexible, green grid, but to get there, we need to unlock the capabilities of their batteries. Now we have Octopus Power Pack, and it is over to car manufacturers to build the cars that are compatible with V2G technology.”
V2G growing on the grid
Octopus Energy has been developing its V2G technology for quite some time, as the firm remains aware of the value of intelligent grid usage.
In September 2023, Octopus announced the start of a V2G trial, named the ‘Intelligent Octopus’ tariff, which was led by National Grid ESO as part of its exploration of the Power Responsive mechanism.
Other energy companies are also getting involved, with UK Power Networks (UKPN) releasing the results of a V2G study it commissioned that same month.
The ‘Park and Flex’ study revolved around the use of airport car parks in optimising energy efficiency on the grid and called these car parks the “sleeping giant” of the energy transition.
UKPN estimated a potential 4.3GW of flexible electricity demand could be available, which the company said would “play a major role in helping London, the east and south-east of England, reduce its carbon emissions and sufficiently decarbonise”.
Blink Charging UK launched its own V2G-enabled charger – the EQ 200 – in the UK and Ireland in November 2023.
The EQ 200 features various smart features, including 4G connectivity, which allows it to interact with load balancing and intelligent energy management systems, thus enabling customers to partake in V2G and even vehicle-to-everything (V2X) services.
More recently, in January 2024, the “largest” waste collection fleet operator in the UK, Veolia, officially completed its V2G trial, which was able to charge and discharge 110kW of energy from two specially designed bi-directional vehicles.
Veolia plans to electrify all 1,800 of its Refuse Collection Vehicles (RCV) by 2040, using the fact that collection vehicles’ batteries are six times bigger than regular EV batteries, so they are better suited to flexible charging, to its advantage.
In total, the 1,800 RCVs are estimated to potentially provide 200MW of daily flexible power capacity to the grid.


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Apple patents have over time pointed to the Apple Watch one day having cellular connectivity. Examples could be found here and here. This afternoon Bloomberg is reporting that Apple is planning to release a version of its smartwatch later this year that will be able to connect directly to cellular networks, a move designed to reduce the device's reliance on the iPhone.
Bloomberg's Mark Gurman adds that "Intel Corp. will supply the LTE modems for the new Watch, according to another person familiar with the situation. That's a big win for the chipmaker, which has been trying for years to get its components into more Apple mobile devices."
About Making Comments on our Site: Patently Apple reserves the right to post, dismiss or edit any comments. Those using abusive language or negative behavior will result in being blacklisted on Disqus.


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Discover the women keeping the country moving in times of change
The 2023 everywoman in Transport & Logistics awards are now open for entries
The 2023 everywoman in Transport & Logistics Awards, launched to inspire more women to progress careers in the industry, are open for nominations until 6th February 2023. Now in their 16th year, the awards celebrate the vital contribution women make to transport and logistics showcasing their progression, accomplishments, and the increasing avenues of opportunity within a traditionally male-dominated industry.
The transport and logistics industry has been intensely challenged over the past few years, with post-Brexit adjustments, the COVID-19 crisis throwing the sector into the spotlight as never before, subsequent challenges around international travel, increased demand for online shopping and delivery services. With women still only accounting for 20% of the 1.7 million people working in transport and logistics, tackling the lack of female recruits would be an invaluable resource to a pressurised industry. The everywoman in Transport & Logistics Awards play an important role in highlighting success stories, shifting perceptions and creating role models to inspire future female talent who may not see the industry as an option to them, whether that’s in distribution, technical and operational roles, or leadership and management positions.
A significant 76% of former Award winners agreed that their everywoman Award has positively impacted their career and 63% said it improved their personal and professional confidence, demonstrating the powerful impact that these awards have and the importance of role models for women in traditionally under-represented industries. There will be two winners per category (Leader and Above & Beyond) as well as one recipient of the Industry Champion, Male Agent of Change, Apprentice of the Year and Woman of the Year Award. In recognition of the significant and vital role sustainability has played in transforming the sector a new category “Sustainability Champion” will be included this year for the first time.
Maxine Benson MBE, co-founder of everywoman, comments: “With the continued challenges faced by the transport and logistics industry, it is important that we identify and celebrate the women whose resilience, skills, and leadership are making transport and logistics the dynamic industry that it is and have kept the country moving in persistently demanding times.
We look forward to shining a spotlight on some of the most exceptional women whose innovation, adaptation and achievements will inspire future generations of women to fulfil their career ambitions in this vibrant industry.”
The 2023 award categories are as follows:
- The Customer / Passenger Award – awarded to two women whose commitment to the highest standards of customer or passenger service led to outstanding business results
- The Freight Award – awarded to two women exemplifying the excellence, drive and innovation of women across the freight subsector
- The Infrastructure Award – sponsored by IAG Cargo – awarded to two women who are demonstrating outstanding achievements within infrastructure
- The Supply Chain Award – sponsored by Unipart Rail – awarded to two women who show exceptional talent and drive within the supply chain system
- The Warehousing Award – awarded to two women excelling in their role within a warehousing environment
- Industry Champion Award – awarded to a female pioneer whose longstanding and continuous support of women in transport and logistics has led to impactful and measurable change
- International Inspiration Award – awarded to an exceptional role model working outside of the UK & Ireland who inspires women and men in their community
- Apprentice of the Year Award – awarded to an enterprising female apprentice who is making an exceptional contribution to their organisation in their early career
- Male Agent of Change Award – sponsored by Mott MacDonald – awarded to a male role model who is actively committed to encouraging, advancing, sponsoring, or championing the progress of women in transport and logistics in his organisation and beyond
- The Tech Innovator Award – awarded to a woman designing, developing, researching, implementing or being exceptionally creative with technology within the industry
- Sustainability Champion Award – awarded to a woman or female- team making an exemplary contribution to sustainability and environmental protection within a transport or logistics company


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California’s October 7 recall election turned the eyes of the nation to the state’s economy and its tax system. Governor-elect Arnold Schwarzenegger and his team face a tax system that, statistically speaking, is one of the worst in the country for business development and economic growth.
Business Tax Climate
Taxes as a Percent of State Income
California ranks 49th (second worst) in the Tax Foundation’s State Business Tax Climate Index, which measures the impact on business of five major elements of the tax system: the percentage of income taken by all taxes, individual income tax rates, corporate income taxes, sales tax rate, and complexity of the tax system. Only Mississippi has a more unfriendly tax climate for business.
In 1990 California had a slightly below-average tax burden (9.7 percent compared to a national average of 9.9 percent). Since then, state/local tax collections have risen much faster than Californians’ incomes. Estimated now at 10.6 percent of income, California’s state/local taxes are well above the national average of 9.7 percent. (See Table 1.)
Another way to describe California’s tax burden is to calculate Tax Freedom Day, the day when Californians have earned enough money to pay off their total tax bill for the year. In 2003, California taxpayers had to work until April 29 to pay their total tax bill, 10 days later than the national average and later than all other states except Connecticut and Massachusetts. (See Table 2.) California taxpayers must work 38 days into the year just to pay their state and local tax bill. At $3,670 per-capita, that bill is the eighth highest in the nation.
With six brackets and a top rate that kicks in at a relatively low $38,291 of income, California has one of the most progressive tax systems in the nation for individuals and small business owners. For the taxpayer with $40,000 of taxable income, California’s 9.3 percent state income tax rate is the highest in the nation. For families earning between $43,500 and $307,050, only Montana’s tax rate is higher, and over $307,050 of income, only Montana’s and Vermont’s rates are higher.
|Table 2: Tax Freedom Day by State and Rank
Selected Calendar Years, 1990 – 2003
|1990 Tax Freedom Day||1995 Tax Freedom Day||2000 Tax Freedom Day||2003 Tax Freedom Day||Rank in 2003|
|U.S.||April 20||April 23||April 30||April 19|
|Alabama||April 11||April 13||April 16||April 06||48|
|Alaska||April 21||April 11||April 15||March 30||50|
|Arizona||April 22||April 25||April 28||April 17||16|
|Arkansas||April 12||April 16||April 21||April 09||40|
|California||April 18||April 22||May 08||April 29||4|
|Colorado||April 20||April 22||May 01||April 21||11|
|Connecticut||April 22||May 05||May 19||May 09||1|
|Delaware||April 13||April 17||April 21||April 09||39|
|Florida||April 16||April 23||April 29||April 15||22|
|Georgia||April 19||April 22||April 27||April 16||19|
|Hawaii||April 26||April 20||April 26||April 13||31|
|Idaho||April 16||April 19||April 25||April 14||25|
|Illinois||April 23||April 25||May 01||April 20||12|
|Indiana||April 17||April 19||April 22||April 14||28|
|Iowa||April 21||April 23||April 22||April 11||35|
|Kansas||April 20||April 22||April 25||April 13||29|
|Kentucky||April 15||April 19||April 20||April 09||38|
|Louisiana||April 13||April 11||April 19||April 07||44|
|Maine||April 18||April 25||May 04||April 22||9|
|Maryland||April 19||April 22||April 30||April 17||17|
|Massachusetts||April 19||April 27||May 11||May 02||2|
|Michigan||April 21||April 21||April 27||April 17||18|
|Minnesota||April 24||May 01||May 03||April 23||7|
|Mississippi||April 11||April 16||April 17||April 07||43|
|Missouri||April 14||April 18||April 22||April 12||34|
|Montana||April 17||April 19||April 21||April 09||37|
|Nebraska||April 18||April 23||April 25||April 12||33|
|Nevada||April 25||April 30||May 03||April 20||13|
|New Hampshire||April 15||April 21||April 29||April 15||23|
|New Jersey||April 25||April 01||May 10||April 27||5|
|New Mexico||April 18||April 18||April 17||April 03||49|
|New York||April 30||April 03||May 09||April 29||3|
|North Carolina||April 15||April 17||April 22||April 13||32|
|North Dakota||April 15||April 22||April 20||April 11||36|
|Ohio||April 14||April 19||April 24||April 14||24|
|Oklahoma||April 13||April 13||April 17||April 06||46|
|Oregon||April 23||April 21||April 25||April 14||27|
|Pennsylvania||April 15||April 20||April 25||April 14||26|
|Rhode Island||April 19||April 23||May 04||April 23||8|
|South Carolina||April 15||April 17||April 20||April 08||41|
|South Dakota||April 13||April 19||April 20||April 08||42|
|Tennessee||April 12||April 13||April 15||April 06||47|
|Texas||April 20||April 20||April 24||April 13||30|
|Utah||April 19||April 24||April 26||April 16||20|
|Vermont||April 23||April 26||May 01||April 17||15|
|Virginia||April 17||April 19||April 28||April 15||21|
|Washington||April 30||May 02||May 09||April 27||6|
|West Virginia||April 14||April 13||April 18||April 06||45|
|Wisconsin||April 25||April 29||May 02||April 19||14|
|Wyoming||April 25||April 26||May 09||April 21||10|
|District of Columbia||May 03||May 02||May 19||May 07||–|
Since most small businesses are either S Corporations or partnerships or sole proprietorships, they pay their business taxes at the rates for individuals. That makes California’s taxes on small businesses higher than virtually every other state.
Corporate Income Tax
Corporations looking to relocate, or even establish, a business in the West may shy away from California, as the state’s 8.84 percent flat rate is the highest corporate tax rate in the West. Nationally, only 10 states have a higher top corporate tax rate than California. In 2002, corporate tax collections in California totaled $152 per capita, the sixth highest per-capita level in the nation.
California’s tax system is a complexity nightmare for corporate taxpayers because it does not conform with the standards and practices adopted within the Federal tax code or most other states. This adds considerable compliance costs for multi-state companies trying to do business in California. The state also enforces both a corporate and individual Alternative Minimum Tax (AMT). It is widely accepted among tax experts that the AMT imposes a level of tax complexity that is disproportionate to the amount of revenue raised. (See “Alternative Minimum Tax Stalks Millions of Taxpayers,” page 6.) California is among only five states that have enacted both a corporate and individual AMT (14 states have at least one).
California’s state and local sales tax rate ranges from 7.25 percent to 8.75 percent. Excluding local option sales taxes, California’s statutory rate of 7.25 percent is the highest in the country.
The sales tax affects not only consumers, but businesses as well. The state fails to exempt many business items from the sales tax, including manufacturing machinery, office equipment, and farm machinery. For example, on a $100 million investment in a new plant and equipment, California’s sales tax on machinery could add as much as $9 million in additional costs, depending upon the type of machinery and the plant’s location.
High sales tax rates reduce revenue as consumers seek relief via cross-border shopping (neighboring states Nevada and Oregon do not have sales taxes) or making purchases through catalogs and/or the Internet. High sales taxes, then, hurt the state’s retailers as well as its consumers.
As the new governor of the state with the country’s second-worst business tax system, Schwarzenegger can set the direction and pace for tax reform. Clear priorities should be reducing taxes as a percent of state personal income to the national average or below; flattening a progressive income tax that drives the state’s most productive residents to neighboring states; and reducing the corporate income tax. Lowering sales taxes would stem the flow of retail activity to neighboring states.
If he does not fix his state’s dysfunctional tax system, Schwarzenegger is likely to fail to fix his state’s budget problems. The entire nation will be watching as “The Terminator” grapples with perhaps his most difficult foe ever.
Scott Hodge is president of the Washington, DC-based Tax Foundation.
For more information …
on California taxes or the work of the Tax Foundation generally, contact Hodge at 202/464-5103, email [email protected], or Senior Economist Scott Moody at 202/464-5107, email [email protected]. Or visit the Tax Foundation Web site at http://www.taxfoundation.org.


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By Shane Sturgeon • Jul 27 2012, 12:23am
Although 81 percent of the ConsumerReports.org subscribers who used a streaming video service in the previous month used Netflix, rival services such as Vudu, Apple iTunes, and Amazon Instant Video all scored higher for overall satisfaction in Consumer Reports' first comprehensive Ratings of video services.
Streaming video content directly from the Internet is emerging as the preferred choice for video viewing...
By Shane Sturgeon • Jul 21 2012, 2:48am
NBC Olympics, a division of the NBC Sports Group and Panasonic Corporation of North America today announced that the first-ever 3D coverage of the Olympic Games, beginning in London later this month, will be available to subscribers of MVPD's (multichannel video programming distributors) representing nearly 80% of U.S.
The daily 3D programming, which will be shown on next-day delay, will be carried by many cable, satellite and telco providers such as such as Armstrong, AT&T, Blue Ridge, Bright House Networks, Cablevision, Comcast, Cox Communications, DIRECTV, Insight, Mediacom, RCN, Suddenlink, Time Warner Cable, Verizon, and WideOpen West.
These carriers will distribute roughly 242 hours of the 3D broadcasts via the Media Center.
By Shane Sturgeon • Jul 19 2012, 8:17pm
Samsung Electronics America, a leader in digital media and digital convergence technologies, today showcases several new groundbreaking innovations as part of Samsung SpaceFest, a five-day celebration of the arrival of the Space Shuttle Enterprise at the famous Intrepid Sea, Air & Space Museum.
The new 75-inch ES9000 LED Smart 3D TV will deliver...
By Shane Sturgeon • Jul 9 2012, 8:46pm
The Consumer Electronics Association (CEA)® today announced five new standards, ranging in topic from accessibility to 3D video to wireless charging, which are now available to guide designers as they develop innovative products for consumers.
CEA also released a technical report that addresses television picture brightness.
The new standards are as follows...


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Raise Report: LendUp, DroneDeploy, Vettery Secure Fresh Funding
Every two weeks, we round up some of the biggest fundraises taking place in hyperlocal marketing, commerce, and tech.
Tuesday, August 16: Simbi Raises $1.2 Million for Online Services Marketplace
Greylock Discovery fund, Crunchfund, Ranch Ventures, and Y Combinator supplied the funds, TechCrunch reported. Simbi will use the capital to spread the news about its business and grow its staff, which currently stands at just five members.
Wednesday, August 17: Dexter Secures $2.3 Million for Bot-Building Software
2016 has been a big year for bots, as conversational commerce makes its way into more and more business models. Dexter is riding that wave, raising a $2.3 million round led by Rakuten Ventures, the company announced via a post on Medium. The funds will go toward product development as Dexter attempts to become the best bot-building platform available.
Wednesday, August 17: Vettery Grabs $9 Million to Locate Finance, Tech Talent
Vettery feeds the talent-gobbling machines of the high-rolling technology and financial industries, using technological infrastructure to find talent faster than traditional recruiting agencies. Greycroft Partners and Raine Ventures led the round, according to a press release on Yahoo Finance. Vettery plans on putting the funding toward geographic expansion and building its team.
Monday, August 22: MediaBrix Lands $6.5 Million for Mobile Brand Marketing
MediaBrix, a mobile advertising firm that helps brands connect with consumers, scored the new funds from Edison Partners, Revel Partners, and Horizon Technology Finance, according to VentureBeat. MediaBrix will put the funds toward research and development and expanding its data science staff.
Tuesday, August 23: RedShelf Scores $4 Million to Disrupt College Textbook Market
Local college bookstores are in for a rude awakening. RedShelf, which enables cheap, electronic distribution of college textbooks that have conventionally cost students hundreds, picked up $4 million this week from Coniston Capital, TechCrunch reported. RedShelf will use the Series B capital to accelerate and innovate within product development.
Tuesday, August 23: LendUp Locks Down $47 Million for Its Alternative Credit System
LendUp offers deals to consumers struggling with bad credit or a scant credit history, and its vision has been rewarded. Y Combinator Continuity led the Series C round, Finovate reported. LendUp will put its new funding toward scaling its products, including its L Card, which is, according to its website, “for people new to credit or those who’ve had trouble in the past.”
Wednesday, August 24: DroneDeploy Scoops Up $20 Million to Improve Maps
DroneDeploy makes software that renders geospatial data collected by drones into maps and 3D images. Its potential utility for businesses looking to capitalize on advancements in drone technology was noticed by Scale Venture Partners and High Alpha Capital, which supplied the funding, Fortune reported. The company will use the Series B funding to develop new features and grow its business.
Joseph Zappa is Street Fight’s news editor.
Has your company recently raised a new round? Send information to [email protected].


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Titan launches 46-inch Goodyear-brand agricultural tyre
Titan has launched the Goodyear Optitrac LSW1400/30R46 agricultural tyre as part of the Goodyear range of “extreme floatation” tyres. Intended as an alternative to tracks or conventional dual configurations on large four-wheel drive tractors, the tyre offers “the best combination of floatation, traction and ride quality,” according to Titan.
Scott Sloan, agricultural product manager for Titan and Goodyear Farm Tires, commented: “We’ve seen a lot of success bringing this concept into MFWD tractors and combines, but our customers wanted an option for 4WD tractors. That’s why we’re introducing the largest farm tyre in the world, which will be available by the second quarter of 2017.”
The LSW1400/30R46 is aimed at high-horsepower 4WD tractors, such as John Deere 9000-series or Case Steigers, and reportedly reduces compaction in any application where dual 710/70R42s or 800/70R38s are currently being used.


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The US alleges during meetings with an unnamed banking institution in the US, Wanzhou misrepresented Huawei's ownership and control of Iranian affiliate Skycom. For PCs, though, Huawei uses Intel silicon, and if a ban were to take place, similar to how it did for ZTE, Huawei would need to look elsewhere for its laptop-grade processors.
'We have prepared our own operating system.
In brief: The battle between the U.S. government and Huawei is showing no signs of abating.
Wanzhou was arrested by Canadian authorities in December and is awaiting an extradition trial set for May 8. This admission follows earlier rumors that Huawei had been working on its own operating systems since at least early 2018.
Meng is wanted in the USA on fraud and conspiracy charges related to accusations of violating sanctions on Iran - allegations China has dismissed as a politically motivated attack.
Celebrity friends console Louis Tomlinson after sister dies aged 18
Watford boyband Rak-Su, who won the fourteenth series of the X Factor before Tomlinson debuted as a judge, sent their sympathies. Louis Tomlinson has pulled out of a planned performance at Comic Relief following his sister's death.
"We fully support our partners' operating systems - we love using them and our customers love using them".
Android and Windows are still the company's first choice.
Australia has made its sovereign decision, says Marise Payne. Huawei has sued the United States for banning government networks from using Huawei equipment, while facing charges of technology theft and sanctions violations from the US. Huawei already makes its own smartphone processors as well.
The lawsuit alleges that the global Huawei CFO was detained and interrogated by airport customs, and her electronic devices searched, before informing her that she was under arrest. Still, given the state of the US-Huawei relationship, this contingency plan could be significant.


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You have searched for Game Change (film)
- Gaming console industry is changing, and here's why users may not like it
At last week's Electronic Entertainment Expo, the video game industry forecast a future where Xboxes and PlayStations are updated almost as frequently as smartphones. The move to release more consoles with varying features may mark the end of the traditional console cycle, the decades-old tradition of brand-new systems coming out every seven years or so.
- Run out by Dottin changed the game: Taylor
Mumbai, Mar 31 () West Indies captain Stafanie Taylor said that the run out of Sophie Devine by Deandra Dottin changed the game as they ended up beating New Zealand in the ICC Women's World T20 semifinal here today. "Anytime (Deandra) Dottin gets a run out its something spectacular.
- Amazon CEO Jeff Bezos' plan to change the game for online retailers in India
Amazon CEO Jeff Bezos has lobbied Prime Minister Narendra Modi to allow foreign investment-backed e-commerce companies such as the one he runs to operate hybrid models in India that are part marketplace and part inventory-led
- Bollywood film 'Love Games' has English soundtrack
Vikram Bhatt's upcoming Bollywood urban thriller 'Love Games' will have a complete English soundtrack. Bhatt has also turned lyricist with the film and all the English tracks have been penned by him. Talking about it, he said, "It's the first time that any Indian film has a complete English OST."


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The Google application takes the largest toll on smartphone batteries, followed by three apps from Facebook—its flagship app, Messenger From Facebook and WhatsApp—according to a new analysis from U.K.-based comparison website Uswitch.
The company analyzed 50 of the most popular apps available in major app stores, examining permissions they allow and how many permissions each app has access to.
Uswitch wrote, “Poor battery life is the biggest bugbear for smartphone users the world over. Although battery sizes are getting bigger, most mobiles still struggle to get through one day of heavy usage without getting low on power. And considering all of the demands we put on our devices, it’s hardly surprising. But what really drains the battery is the apps your phone uses. And, more specifically, it’s the permissions these apps require in order to give you the best possible experience. This can be anything from accessing your camera, calendar or contacts to using your location or Wi-Fi.”
The company said the top 10 apps require access to a combined 422 permissions on smartphones, adding that over 5 billion people worldwide own these devices, and their average battery life ranges between five hours and 11 hours.
Other social and messaging apps on Uswitch’s list include YouTube Music (No. 10), Instagram (11), Telegram (12), Twitter (13), TikTok (14), Snapchat (18) and Pinterest (29).
On the non-social front, Uswitch wrote, “It might appear that Amazon’s Alexa is listening more than we realize. The Alexa app requests 39 permissions on our mobile phones ranging from location, camera and photos/media, even when it’s not running.”
For those on the go, Uswitch pointed out that Uber was No. 7 on its list, with 35 battery-draining permissions constantly accessing location, and Waze, at No. 8, was far more draining than Google Maps, which didn’t even crack the top 50.
Uswitch mobile expert Ernest Doku said in an email, “It can cause issues when you’re caught out with a drained battery. There are a few simple ways to preserve your mobile phone’s battery life, such as turning off Wi-Fi/Bluetooth and making the most of low power modes. If all else fails, remember to put a portable charger in your bag on long journeys.”


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Robinhood has been one of the top-tier exchange platforms. Any news on Robinhood is of immense importance for traders and investors. Meanwhile, The exchange platform has been gaining limelight across public platforms. With news revolving around the firm.
The platform discloses that 1.6 million people are awaiting the crypto wallet from the exchange platform. Which will be bullish for the cryptos listed on the platform. Moreover, the listing of the Doge-killer also remains off the horizon.
This Is Why Crypto Wallet Will Be Bullish for Cryptos!
Robinhood had opened the waitlist for the withdrawal feature. Which has garnered immense interest that grown to 1.6 million users from 1 million in a short time frame. Currently, traders can buy and sell representations of the digital asset that they hold. And not the actual asset.
The crypto wallet will enable users to move digital currencies in and out of their accounts. And can further participate in De-Fi and other platforms from the crypto world. The move holds immense potential to accompany a bullish scenario for the cryptos listed on the platform.
As the listings will now likely be backed by the actual assets. The massive userbase of crypto holders in Robinhood might bring massive impetus to the valuation of the space. The crypto wallet will likely arrive by late Q1 of 2022. Which is in the queue for a brief period of time.
Robinhood Will Not SHIB ?
The SHIB Army has been eagerly waiting for SHIB’s listing on Robinhood. Meanwhile, speculations of the meme coin’s listing on the exchange platform have been making rounds. However, Robinhood COO Christine Brown has confirmed at a live event that, the firm will be adhering to regulatory clarity.
And the firm doesn’t want to trade off long-term gains over short-term gains. The listing of SHIB post wallet implementation could give a better headstart to the coin, as it will be backed by the actual asset. Which the traders and investors embrace. However, SHIB has been available on Canada’s version of Robinhood, which is called WealthSimple.
Collectively, the move will bring immense value to the industry. Which the users of the exchange platform have been waiting for. The implementation will be beneficial for Robinhood as well, as it would see an influx of newer users in the platform. On the other hand, the firm has confirmed resolving the issue affecting bank transfers for some users. And has also confirmed that there have been no financial losses from the recent breach. Which has restored faith among users.