Retail News CRM

Author: Mei Ling Tan

  • UBS Announces Major Executive Reshuffle; Aims For Streamlined Operations And Technological Advancement

    UBS Announces Major Executive Reshuffle; Aims For Streamlined Operations And Technological Advancement

    Swiss banking powerhouse, UBS, has recently disclosed several alterations to its executive board, including new appointments for the roles of compliance and operations.

    The reshuffling of the executive board comes after the proposal of Markus Ronner, the group’s chief compliance and governance officer, for the position of vice chairman.

    Michelle Bereaux, previously serving as the Group’s Chief Integration Officer, will step down and take on the new role of Group Head Compliance and Operational Risk Control. UBS accredits Bereaux for her significant contribution to the integration of Credit Suisse. The completion of this merger is forecasted to be by the end of 2026, and includes the transition of clients outside Switzerland and approximately two-thirds of Swiss clients.

    Beatriz Martin, currently the Head of Non-Core and Legacy, has been appointed as the Group’s Chief Operating Officer. Her new role will encompass her existing duties as the Sustainability and Impact Lead and Head of Non-Core and Legacy. Martin will also take on additional responsibilities such as overseeing the completion of the Credit Suisse integration, managing group operations, and supervising the internal consulting and governance teams. Martin will continue her duties as the EMEA President and UK Chief.

    Group Chief Technology Officer Mike Dargan will pivot his focus onto advancing the bank’s technology platforms with the objective to ensure they remain efficient, robust, and responsive to the organization’s changing needs. Dargan will also work on capitalizing on the opportunities that rapid technological advancements, particularly in AI and digital assets, present.

    Responsibilities related to governmental and regulatory affairs will be transferred to Group CFO Todd Tuckner. Meanwhile, group security will be integrated into the group’s human resources and corporate services organization under the leadership of Stefan Seiler.

    Following the announcement, UBS CEO Sergio Ermotti congratulated his colleagues on their new roles and expressed optimism about the bank’s positioning. “With these changes, UBS is ideally positioned to complete the integration, focus on growth opportunities, and continue to deliver in the best interest of all our key stakeholders,” Ermotti said.

    The new appointments are set to take effect from 1 January 2026.

    Questions & Answers

    What changes have been made to the executive board of UBS?
    Several changes have been made including the appointment of Michelle Bereaux as Group Head Compliance and Operational Risk Control, Beatriz Martin as Group Chief Operating Officer, and the transfer of responsibilities related to governmental and regulatory affairs to Group CFO Todd Tuckner.

    Who will oversee the completion of the Credit Suisse integration?
    Beatriz Martin, appointed as the new Group Chief Operating Officer, will oversee the completion of the Credit Suisse integration.

    What will be the new focus of Group Chief Technology Officer Mike Dargan?
    Mike Dargan will focus on advancing the bank’s technology platforms and capitalizing on the opportunities presented by rapid technological advancements, particularly in AI and digital assets.

  • HSBC To Acknowledge $1.1b Provision Following Luxembourg Court Ruling Tied To Madoff Scandal

    HSBC To Acknowledge $1.1b Provision Following Luxembourg Court Ruling Tied To Madoff Scandal

    HSBC, a London-based financial institution, is set to acknowledge a significant provision following a court ruling in Luxembourg, in relation to an ongoing lawsuit tied to the infamous Bernard Madoff scandal.

    The Madoff Scandal Impact

    HSBC is expected to make an accounting provision amounting to $1.1 billion in its third quarter financial results. This move comes as a consequence of the Luxembourg court’s ruling on Bernard Madoff’s fraudulent investment scheme, as stated in an official report.

    The lawsuit dates back to 2009, when Herald Fund SPC sought legal action against HSBC’s Luxembourg division. The fund sought the recovery of assets it asserted were lost in the Madoff fraud scandal. It is important to note that the British bank served as a service provider to several investment funds involved with Bernard L. Madoff Investment Securities LLC.

    HSBC’s Legal Battle

    The Luxembourg court, on October 24, 2025, rejected an appeal by HSBC Securities Services Luxembourg (HSSL) regarding the recovery of securities. Nevertheless, the court accepted HSSL’s appeal related to a separate cash recovery claim. In response, HSSL plans to file another appeal. If this appeal is unsuccessful, the firm will challenge the sum to be paid in subsequent legal proceedings.

    Implications for HSBC

    The sizable provision is estimated to affect HSBC’s common equity tier 1 (CET1) capital ratio by approximately 15 basis points. However, it is expected to have no impact on the yearly return on tangible equity, excluding notable items, nor on the distribution of dividends.

    Questions & Answers

    What is the value of the provision HSBC is expected to recognize?
    HSBC is expected to recognize a provision of $1.1 billion in its third quarter results.

    Why is HSBC recognizing this provision?
    This provision is a result of a Luxembourg court ruling tied to the Bernard Madoff investment fraud scandal.

    What will be the impact of this provision on HSBC’s financials?
    The provision is estimated to affect HSBC’s CET1 capital ratio by about 15 basis points, but it will not impact the yearly return on tangible equity, excluding key items, or the distribution of dividends.

  • Vietnam’s Gold Prices Buck Global Trend With Slight Increase Amid Overall Market Decline

    Vietnam’s Gold Prices Buck Global Trend With Slight Increase Amid Overall Market Decline

    Despite a global decline, the price of gold bars in Vietnam saw a slight increase last Saturday morning. The Saigon Jewelry Company reported a 0.47% rise in the price per tael of their gold bars, reaching VND149.2 million (US$5,671.93).

    Simultaneously, the cost of a gold ring also experienced a 0.47% surge, rising to VND148.6 million per tael. For context, one tael is equivalent to 37.5 grams or 1.2 ounces.

    Yearly Bullion Surge in Vietnam

    This year, there has been a notable increase in the value of bullion in Vietnam, with a growth rate of 77%.

    Global Gold Prices

    On the global stage, gold prices experienced a slight recovery on Friday. This recovery occurred after U.S. inflation data was slightly below expectations. This data reinforces the anticipation of a Federal Reserve interest rate cut in the following week. However, despite this minor recovery, gold is still believed to be on track for its first weekly loss in a ten week period.

    Spot gold experienced a decrease of 0.2%, falling to $4,118.29 per ounce, after an earlier decline of nearly 2% in the same session. Across the week, the price of spot gold fell by over 3%.

    Independent metals trader Tai Wong gave his insights, stating, “Gold and silver experienced an increase following the lower than expected September core CPI. However, this is likely insufficient to completely counteract this week’s selloff. The price action suggests that gold, and particularly silver, may require another downward leg before stabilization.”

    This year also saw a global increase in the value of bullion, with a growth rate of 55%. This rise has been attributed to various factors including geopolitical and trade tensions, substantial central bank buying, and expectations of U.S. interest rate cuts.

    Questions & Answers

    What was the price increase of gold in Vietnam?
    The price of gold bars in Vietnam increased by 0.47%, with the price per tael reaching VND149.2 million (US$5,671.93).

    How did the global gold prices fare last week?
    Despite a slight recovery after lower than expected U.S. inflation data, gold was still on track for its first weekly loss in ten weeks.

    Why has the global value of bullion increased this year?
    The global surge in the value of bullion is attributable to several factors including geopolitical and trade tensions, robust central bank buying, and expectations of U.S. interest rate cuts.

  • Toast Box Breaks Ground With First Highway Store In Indonesia: Expanding Authentic Singaporean Cuisine

    Toast Box Breaks Ground With First Highway Store In Indonesia: Expanding Authentic Singaporean Cuisine

    The Singapore-based coffee chain, Toast Box, recently inaugurated its first store in partnership with Map Boga Adiperkasa (MBA) Group, located at Rest Area Km 57 in Jakarta.

    Expansion Beyond Mall Outlets in Indonesia

    This latest development signifies Toast Box’s strategy of extending its footprint beyond shopping malls in Indonesia. The company intends to expand the brand’s presence across rest areas, which started with the opening of the Rest Area Km 57 store.

    A Convenient Stopover Offering Authentic Singaporian Cuisine

    The store, which opened on October 9, offers customers a convenient pit-stop while also focusing on providing authentic Singaporean cuisine. This commitment strengthens Toast Box’s position as a prime location for coffee, traditional kaya toast, and hearty, delicious dishes. It aims to merge the comfort of travelling with the taste of genuine Singaporean flavours.

    Anthony Mc Evoy, CEO of MBA, lauded the new establishment. “The launch of this Toast Box store reinforces the brand’s status as the top destination for coffee, traditional kaya toast, and delectable, heart-warming dishes. It’s a place where authentic Singaporean flavours meet the comfort of your travels,” he commented.

    Experience Nanyang Coffee and Toast Culture

    Toast Box offers its customers a chance to delve into the Nanyang coffee and toast culture, which gained popularity during the 60s and 70s. The brand aims to provide an experience rooted in tradition while ensuring its offerings align with modern taste preferences.

    Questions & Answers

    What is the significance of this new store opening by Toast Box?
    The opening of the new store marks the expansion of Toast Box beyond mall outlets in Indonesia. It also signifies the start of its partnership with Map Boga Adiperkasa (MBA) Group.

    What does Toast Box aim to provide for its customers?
    Toast Box aims to provide a convenient stopover for travellers while staying true to serving authentic Singaporean cuisine. It provides an experience of the Nanyang coffee and toast culture, popular in the 60s and 70s.

    Who is the CEO of MBA?
    The CEO of MBA is Anthony Mc Evoy.

  • Salomon Set To Open First Directly-operated Store In Kyoto, Launching Exclusive Red Viper Collection

    Salomon Set To Open First Directly-operated Store In Kyoto, Launching Exclusive Red Viper Collection

    Salomon, a leading sportswear brand, is set to launch its first directly-operated store in Kyoto Prefecture on November 21st. The store will be located in the popular Kyoto Bal shopping complex.

    Pre-Opening Event

    A special pre-opening celebration will take place on November 20th. Salomon will invite 100 members of its S/Plus loyalty program to attend the event. These lucky guests will be chosen through a lottery process.

    Product Range

    The new Kyoto store will offer an extensive assortment of products, with a particular emphasis on sports style and performance footwear. The store is committed to catering to the diverse needs of both sports enthusiasts and casual shoppers.

    Opening Specials

    In conjunction with the store’s opening, Salomon is set to launch the “Red Viper Collection”, featuring three limited-edition shoe models. This special collection will include the XT-Slate Red Viper, XT-4 OG Red Viper, and Spectur 2 Red Viper. These exclusive footwear designs reflect Salomon’s commitment to innovation and style.

    Questions & Answers

    When will the new Salomon store open in Kyoto Prefecture?

    The new Salomon store in Kyoto Prefecture is scheduled to open on November 21st.

    What special event will take place before the official opening of the store?

    A pre-opening event will be held on November 20th, where 100 members of Salomon’s S/Plus loyalty program will be invited through a lottery.

    What is the focus of the product range in the new Kyoto store?

    The new Kyoto store will focus on sports style and performance footwear along with a wide range of other products.

  • Prada Group Posts 19th Consecutive Quarter Growth Amid Global Retail Challenges

    Prada Group Posts 19th Consecutive Quarter Growth Amid Global Retail Challenges

    The Prada Group has demonstrated sustained growth for the 19th straight quarter, even in the face of a complex global retail landscape. The financial results for the nine months leading up to September 30 reveal a promising overview.

    Financial Overview

    During this period, the luxury group’s net revenues climbed 9% year-on-year, reaching $4.7 billion. This growth was bolstered by a corresponding 9% rise in retail sales, which accounted for $4.2 billion. Despite a high base from the previous year, retail sales in the third quarter increased by 8%, mirroring the growth seen in the second quarter.

    Brand Performances

    Miu Miu, a brand under the Prada Group, has continued its strong performance. It reported a 41% growth over the nine months and a 29% increase in the third quarter. This comes after an impressive 105% surge during the same period the previous year.

    In contrast, sales for the Prada brand itself eased slightly. The third quarter saw a decrease of 1%, and a 2% drop was reported over the full nine months.

    Company Response

    Patrizio Bertelli, Chairman of Prada, viewed these results optimistically. He commented that the consistent performance, despite a challenging macroeconomic environment, “attests to the resilience of our brands and the effectiveness of our strategy.”

    Questions & Answers

    What was the overall growth for the Prada Group in the recent quarter?
    The Prada Group saw a 9% increase in net revenues year-on-year, reaching a total of $4.7 billion.

    How did the individual brands under the Prada Group perform?
    While Miu Miu saw significant growth with a 41% increase over nine months, the Prada brand experienced a slight decrease in sales, with a drop of 2% over the same period.

    What has the Chairman of Prada said about the company’s performance in this quarter?
    Chairman Patrizio Bertelli emphasized the consistent results despite a complex macroeconomic environment, attributing the success to the resilience of the brands and the effectiveness of their strategy.

  • Giordano Reports Q3 Sales Dip Despite Yearly Growth; E-commerce Revenue Soars By 16.5%

    Giordano Reports Q3 Sales Dip Despite Yearly Growth; E-commerce Revenue Soars By 16.5%

    Hong Kong-based fashion retail giant, Giordano, has experienced a decrease in sales for the third quarter of the year, despite an overall positive performance for the year so far.

    Q3 Performance

    The retailer’s third-quarter revenue, ending on September 30, dropped by 1.4 per cent to HK$894 million, equivalent to US$115 million. Sales declined by 8.5 per cent in Southeast Asia and Australia, remained unchanged in Greater China, but impressively jumped by 11.6 per cent in the Gulf Cooperation Council.

    Giordano’s e-commerce revenue continued to demonstrate strong progress with an increase of 16.5 per cent, even as offline sales fell by 4.9 per cent. Same-store sales also experienced a slight dip, declining by 0.5 per cent.

    Strategic Initiatives

    Giordano’s management shared that the company has been actively shifting towards high-growth channels and markets as part of its strategic initiatives. They added, “With a focused approach, we are successfully navigating a period of reset with a view to delivering long-term sustainable growth in line with our strategic vision.”

    Performance for the First Nine Months

    The retailer’s performance for the first nine months of the year remained in the green, with a modest revenue increase of 0.6 per cent.

    Despite challenges like unprecedented adverse weather in Greater China, the company’s core business preserved stability with a 0.4 per cent growth in the quarter and a 2.7 per cent growth for the year so far.

    The quarter ended with Giordano operating 1,627 stores, marking a net reduction of 122 locations since the start of the year. As part of their inventory optimization plans, inventory also declined by 2.9 per cent year-to-date.

    Questions & Answers

    What is Giordano’s percentage of sales decline in the third quarter?
    Sales declined by 1.4 per cent, equivalent to HK$894 million, or US$115 million.

    How has Giordano’s e-commerce revenue been performing?
    Giordano’s e-commerce revenue demonstrated strong progress with an increase of 16.5 per cent.

    What is the net change in Giordano’s store count since the beginning of the year?
    Giordano net reduced its store count by 122, ending the quarter with 1,627 stores.

  • Steggles Launches New Flavours In Tenders Range, Exclusively At Woolworths

    Steggles Launches New Flavours In Tenders Range, Exclusively At Woolworths

    Steggles, a renowned poultry brand, has announced the introduction of two unique flavours to its popular Steggles Tenders line. These new offerings will be available exclusively at Woolworths locations starting next week.

    Inventing New Flavours

    The upcoming additions to the Steggles Tenders range are Sweet & Spicy and Korean Style. Both these flavours have been carefully created using 100% chicken tenderloins. Not only are these new variants bursting with taste, but they also come with a 4-star health rating, making them a healthier choice for consumers.

    These new products uphold Steggles’ commitment to quality and health. They are free from artificial flavours and colours, and they contain no added preservatives or hormones. The new Sweet & Spicy and Korean Style Steggles Tenders will be available in 600g packs.

    Prioritising Convenience

    Steggles is not just focused on taste and health; the brand also prioritises consumer convenience. The new chicken tenders can be prepared in just 25 minutes, making them an ideal choice for individuals and families seeking quick, healthy, and tasty meal options.

    Steggles was bought by Baiada in 2009. Since then, it has continued to provide fresh, chilled, and frozen chicken and turkey products to its loyal customer base.

    Questions & Answers

    What are the new flavours introduced to the Steggles Tenders line?
    The new flavours introduced to the Steggles Tenders line are Sweet & Spicy and Korean Style.

    What is the health rating of the new Steggles Tenders flavours?
    The new Steggles Tenders flavours carry a 4-star health rating.

    What is the commitment of Steggles towards the health of its consumers?
    Steggles is committed to providing healthier food options. Their products are free from artificial colours and flavours and do not contain any added preservatives or hormones.

  • Heineken Unveils Resource-efficient Five-year Strategy Amidst Industry Challenges

    Heineken Unveils Resource-efficient Five-year Strategy Amidst Industry Challenges

    Heineken, the Dutch brewing giant, has announced an ambitious five-year strategy that aims at utilizing fewer resources to generate more growth. The strategy will concentrate on specific markets and brands to maximize organic net revenue growth. The company anticipates seeing mid-single-digit growth each year leading up to 2030.

    Changing Course Amid Uncertain Times

    In response to a rapidly evolving global landscape, Heineken is looking to fortify its future operations. The company plans to establish a more robust operating model, optimize efficiency, and enhance its adoption of artificial intelligence. This new direction comes in the wake of a series of challenges for Heineken, including the economic impact of the Covid-19 pandemic, rising inflation, and recent tensions arising from US trade policies.

    At an investor event, CEO Dolf van den Brink admitted that the company’s performance has been inconsistent. He expressed dissatisfaction with the current state of affairs and emphasized the company’s aspiration to improve and grow.

    Refocusing on Key Markets and Brands

    Heineken has identified 17 key markets, including Mexico, Malaysia, Spain, and the UK, where it aims to expand its presence. The company will target these markets for potential acquisitions and will focus on five global brands and 25 strong local labels. The markets, along with brands such as Heineken, Tiger, Amstel, Desperados, and Birra Moretti, will receive enhanced resources.

    Investors have suggested that Heineken has been lagging behind competitors, notably Anheuser-Busch InBev, which is recognized for its efficient operations. While Heineken’s shares have seen a modest increase of around 3% this year, its competitors’ shares have seen more substantial growth.

    The brewing company expects organic operating profit to outpace revenues under its revised strategy. It also anticipates earnings per share to grow commensurately or exceed that rate, and aims for over 90% free-cash conversion. The company’s profits will be bolstered by a pre-existing target of achieving up to 500 million euros (US$583 million) in annual gross savings by 2025.

    Industry-Wide Challenges and Adaptation

    Heineken shares experienced a minor slump recently, dropping almost 2% before recovering slightly. This comes after a warning from the company about a potential decrease in beer sales in 2025, following weak third-quarter sales in Brazil and Europe.

    Broadly, the brewing industry is grappling with challenging economic conditions and weak consumer confidence. Additionally, longer-term issues such as increasing health warnings, emerging competitors, and changing consumer preferences pose significant challenges.

    To adapt to evolving consumer demands, Heineken plans to expand its low- and no-alcohol offerings. The company recognizes that some consumers are reducing alcohol consumption due to health concerns and the rise of weight-loss drugs, and is taking proactive steps to accommodate this trend.

    Questions & Answers

    What is the key focus of Heineken’s new strategy?
    The primary focus of Heineken’s updated strategy is to generate more growth while utilizing fewer resources, focusing on specific brands and markets.

    How does Heineken plan to adapt to changing consumer trends?
    In response to changing consumer preferences, Heineken plans to expand its range of low- and no-alcohol products.

    What are some challenges Heineken anticipates in the brewing industry?
    Heineken expects to grapple with difficult economic conditions, weak consumer confidence, health warnings, and changes in consumer behavior, along with new entrants in the market.

  • Lebron James And Hennessy Unveil Limited-edition Cognac, Amplified By Global ‘second Decision’ Campaign

    Lebron James And Hennessy Unveil Limited-edition Cognac, Amplified By Global ‘second Decision’ Campaign

    Renowned cognac producer, Hennessy, and NBA icon LeBron James have joined forces to unveil a fresh, limited-edition cognac. This collaborative effort comes in the wake of their partnership established just a year ago.

    The LeBron James-Hennessy Collaboration

    The new cognac, labelled Hennessy VSOP by LeBron James, takes its creative cues from the basketball star’s dynamic on-court style. The bottle is adorned with a striking orange design that mirrors LeBron’s energetic persona. It also embodies his signature “crowning” gesture, which holds significant personal meaning for the sports legend.

    LeBron James explained that the first collection between the two giants revolved around a mutual pursuit of excellence and pushing boundaries. He sees this latest limited edition as a continuation of that shared story. He further pointed out that the design incorporates his ‘crowning’ gesture, a symbol of celebration and connection for him.

    The Second Decision: A Global Campaign

    The cognac’s launch is being amplified by a worldwide campaign titled ‘The Second Decision.’ This campaign makes a playful reference to LeBron’s 2010 interview famously known as ‘The Decision.’ The campaign reinterprets the event in a humorous light, emphasizing LeBron’s deep involvement in this venture.

    Vincent Montalescot, the CMO at Hennessy, expressed that the collaboration with LeBron James was an intuitive choice. This was due to the shared values between the brand and the basketball superstar. He noted, “LeBron James is a cultural figure whose influence extends beyond sport. He reflects a spirit of collaboration and social connection, values that align with Hennessy’s.”

    Questions & Answers

    What is the inspiration behind the design of Hennessy VSOP by LeBron James?
    The design of Hennessy VSOP by LeBron James is inspired by the dynamic playing style of the basketball superstar. It also includes his signature “crowning” gesture, which stands for celebration and connection.

    What is the name of the global campaign supporting the launch of the new cognac?
    The global campaign bolstering the launch is titled ‘The Second Decision,’ referencing LeBron’s infamous 2010 interview, ‘The Decision.’

    Why did Hennessy choose to partner with LeBron James?
    Hennessy chose to partner with LeBron James because he embodies a spirit of collaboration and social connection, values that align with those of the brand. Furthermore, his influence extends beyond the realm of sports, making him a significant cultural figure.

  • Rolls-royce Unveils Phantom Centenary Collection: An Exquisite Tribute To A Century Of Automotive Excellence

    Rolls-royce Unveils Phantom Centenary Collection: An Exquisite Tribute To A Century Of Automotive Excellence

    Rolls-Royce has introduced the Phantom Centenary Private Collection, a 25-unit series based on the Phantom, in celebration of the model’s 100th anniversary. The automaker describes the collection as the most intricate and technologically advanced private series it has ever produced, with more than 40,000 hours dedicated to its development.

    Exterior Design

    The exterior of the Centenary Private Collection is completed in a classic Black & White style. The paint finish is further enhanced with Rolls-Royce’s Super Champagne Crystal finish, which incorporates champagne-coloured iridescent glass flakes in the clear coat to add an additional layer of depth. The Spirit Of Ecstasy hood ornament is influenced by the original design and is made from 18-carat gold with a 24-carat gold plating. The hood ornament also carries a custom ‘Phantom Centenary’ hallmark from the Hallmarking & Assay Office in London, while the base is completed in enamel. The Rolls-Royce badges and unique ‘Phantom’ wheels are finished in 24-carat gold and white enamel.

    Interior Inspiration

    The interior of the car draws from past Phantom models and honors the company’s founders. The rear seats, inspired by the ‘Phantom of Love’, a custom-made model from 1926, feature artwork embedded into the seat upholstery. This artwork highlights the Phantom’s history and includes depictions of the company’s original Conduit Street premises in London, special Phantom models, and significant Phantom owners over the past century. The seat artwork is a result of a 12-month collaboration with a fashion atelier.

    Thoughtful Details

    The front seats feature laser-etched upholstery with artwork referencing codenames of past Phantoms. The gallery includes 3D-printed brushed aluminium fins arranged vertically, each bearing sculpted letters that form quotes from various reviews over the years. This artwork is backlit, with the lighting programmed to mimic the shimmer of fireworks.

    The doors also showcase remarkable craftsmanship. The rear doors feature artwork depicting landscapes where Sir Henry Royce, the company’s co-founder, had his summer and winter homes, achieved through 3D ink layering, laser etching, and 24-carat gold inlays. The front doors present a depiction of the Goodwood-era Phantom’s Journey across Australia.

    Attention to Every Inch

    Not to be overlooked are the seatback tables, one of which features a wood-inlay representation of the 1925 Phantom 1, while the other shows the current model. This artwork is also carefully embroidered onto the leather-finished back of the table. The Starlight headliner displays floral artwork inspired by the trees at the company’s Goodwood headquarters and references to prior Phantoms.

    Even the engine bay features a bespoke white-finished engine cover with gold inlays, highlighting Rolls-Royce’s attention to detail and commitment to luxury.

    Questions & Answers

    What is the Phantom Centenary Private Collection?
    The Phantom Centenary Private Collection is a 25-unit series based on the Rolls-Royce Phantom, produced to celebrate the nameplate’s 100th anniversary.

    What unique features does the collection have?
    The collection is characterized by its intricate artwork, lavish materials, and advanced technologies. Key features include the Super Champagne Crystal finish, laser-etched upholstery, 3D-printed gallery artwork, and numerous gold inlays.

    What inspired the design of the collection?
    The collection draws inspiration from past Rolls-Royce Phantom models and pays homage to the brand’s founders. The unique artwork embedded into the interior of the cars references the history of the Phantom and the landscapes connected to the company’s co-founder, Sir Henry Royce.

  • Apple’s Mac Sales Double, Yet Lenovo Leads: Future Market Growth Hinges On Ai-enabled Pcs

    Apple’s Mac Sales Double, Yet Lenovo Leads: Future Market Growth Hinges On Ai-enabled Pcs

    The American multinational technology company, Apple, is experiencing a significant surge in iPhone sales. However, what’s particularly noteworthy is the increasing popularity of their laptops. Indeed, in the third quarter of the year, sales of Macs have doubled, outpacing the growth rate of the overall PC market. Despite such impressive strides, Apple is yet to lead in either volume or growth in this market.

    The PC Market Leaders

    Although Apple’s growth rate surpasses that of the overall PC market, it still trails Lenovo in sales growth. According to a recent study, Apple saw a 14.9% increase in shipments during the third quarter of 2025. In contrast, Lenovo, the global leader in PC manufacturing, experienced a growth rate of 17.4%, while the overall market saw an increase of 8.1%.

    Apple currently ranks fourth in terms of global PC manufacturing, while Lenovo maintains its leading position. The third-ranked Dell is the only major brand to experience a slight decline, with a 0.9% drop in growth. On the other hand, the second-largest PC manufacturer, HP, grew by 10%. ASUS saw a 14% rise in growth, securing its position as the fifth in overall shipments.

    The Role of AI in the PC Market

    The study suggests that the overall growth of PC shipments has primarily been influenced by two factors. The first is the imminent retirement of Windows 10, and the second, adjustments made in inventory due to tariffs imposed in the US. However, looking ahead, the study anticipates that the future growth of the market will be driven by the AI PC boom.

    This new wave of AI-enabled PCs is expected to begin influencing growth from next year, and fully come into effect after 2026. It is projected that this “real AI PC boom” could propel the entire PC market to unprecedented heights.

    The Importance of Quality Products

    Apple’s recent success with the iPhone 17, as well as Samsung’s success with the Galaxy Z Fold 7, underlines the role that high-quality products play in driving sales. Apple’s Mac lineup has remained robust for several years, which explains the strong sales performance of their computers. While Lenovo’s broader range of products has helped them maintain their leading position, it does not appear that Apple is necessarily aiming to compete for this title.

    Questions & Answers

    Which company leads the PC market in terms of sales growth?
    Lenovo currently leads the PC market in sales growth, with a rise of 17.4% in the third quarter of 2025.

    What are the two main factors driving the overall growth of PC shipments?
    The overall growth of PC shipments is primarily driven by the imminent retirement of Windows 10 and the adjustments made in inventory due to tariffs imposed in the US.

    What will be the major driver of growth in the PC market in the future?
    The major driver of growth in the PC market in the future is expected to be the boom of AI-enabled PCs. This is predicted to start influencing growth from next year and fully come into effect after 2026.

  • Google’s Gemini Chatbot: New Updates To Address Speech Recognition Limitations

    Google’s Gemini Chatbot: New Updates To Address Speech Recognition Limitations

    Google’s Gemini, an impressive AI chatbot, possesses a vast reservoir of knowledge and an uncanny retention ability, so much so that it can recall a single line spoken in a TV program aired over 54 years ago. Gemini can be accessed via its dedicated app on both Android and iOS, or it can replace the Google Assistant on your Android phone. However, users have found that if the question posed to Gemini is too long, the chatbot might cut them off before the query is fully delivered.

    The Importance of Pauses

    While users can opt to input their questions manually on the keyboard, Gemini’s voice recognition feature offers a more convenient option for those who prefer to speak their queries. The chatbot, a product of engineering powerhouse Google, is quite accurate at transcribing dictated information. One limitation, however, is its inability to understand the natural pauses that occur during speech, possibly because as an AI, it doesn’t require breathing.

    If the query is delivered at a slow pace or with frequent pauses, Gemini may assume that the question is complete and prematurely cut off the user. This can be frustrating, especially for users who prefer to speak their questions.

    Updates on the Horizon

    Recently, however, there has been a discovery that Google may be working to alleviate this issue. In version 16.42.61 of the Google app, a feature was found that allows users to keep the microphone on and active in the Gemini chatbot until it is manually turned off. This new feature prompts users to “Long press the mic to keep it open.” Once the mic is locked in this manner, it will continue listening until the user chooses to stop it.

    With this feature, the microphone icon transforms into a “stop” icon once locked on. To unlock the mic and end the question, users only need to tap the stop button, prompting Gemini to begin processing the query. It’s important to note that this feature does not affect Gemini Live, a function designed for back-and-forth conversations with the chatbot. Other updates include a new overlay input box for Gemini and a floating button for Gemini Live.

    As of now, there is no confirmed timeline for when these updates will be available to Gemini users. The Gemini app can be downloaded from the Google Play Store for Android devices and from the App Store for iPhones.

    Additional Features

    In addition to its knowledge and voice recognition abilities, Gemini now also includes the ability to set alarms and timers on Android. Users can switch to Gemini from Google Assistant by adjusting the settings on their Android device. The necessary software adaptations have been implemented to grant this functionality. Moreover, with the help of the Utilities extension within the Gemini app, the chatbot can control device settings such as Wi-Fi, Bluetooth, the flashlight, and the phone’s volume.

    Questions & Answers

    What is Google’s Gemini?
    Google’s Gemini is a chatbot that can be accessed via a dedicated app on both Android and iOS devices, or it can replace the Google Assistant on your Android phone.

    What limitations does Google’s Gemini currently have?
    One of the primary limitations of Gemini is its inability to understand natural pauses that occur during speech. If a query is delivered slowly or with frequent pauses, Gemini might prematurely assume the question is complete and cut off the user.

    What new features is Google planning to add to Gemini?
    Google is planning to add a feature that allows users to keep the microphone on and active until it’s manually turned off. This feature is designed to prevent Gemini from prematurely ending the user’s query due to long pauses. Other updates include a new overlay input box and a floating button for Gemini Live.

  • Vietnam Slashes Gasoline Prices In Response To Global Oil Market Fluctuations

    Vietnam Slashes Gasoline Prices In Response To Global Oil Market Fluctuations

    In response to the global dip in oil prices, Vietnam has reported a decrease in its gasoline prices this past Thursday. This price decrease is largely due to a decrease in demand.

    Price Reductions

    The widely-used fuel, RON95, saw a reduction by 0.90%, bringing the price down to VND19,720 (US$0.75) per liter. Simultaneously, the price of the Biofuel E5 RON92 also experienced a decrease, falling by 0.88% to VND19,050.

    Global Oil Market Factors

    Numerous factors over the past week have impacted the global oil market. Among these factors was an announcement by OPEC+ of a lower-than-projected increase in oil production for the month of November. Further, a weakened global oil demand and persistent attacks on Russia’s energy facilities by Ukraine also played a significant role in shaping the market.

    As a result of these influences, the price of RON95 on the global market decreased by 1.1% to $78.2 per barrel, while diesel prices decreased by 3.5% to $83.4 per barrel.

    Questions & Answers

    What caused the decrease in Vietnam’s gasoline prices?
    There was a decrease in global oil demand, which precipitated a dip in Vietnam’s gasoline prices.

    How much did the price of RON95 and Biofuel E5 RON92 decrease in Vietnam?
    RON95 saw a decrease of 0.90% to VND19,720 per liter, while Biofuel E5 RON92 decreased by 0.88% to VND19,050.

    What were the primary factors affecting the global oil market?
    The global oil market was primarily influenced by a lower-than-expected increase in oil production for November announced by OPEC+ and weaker global oil demand. Ongoing attacks on Russia’s energy facilities by Ukraine also significantly impacted the market.

  • Fake Louis Vuitton, Gucci shoes seized in $1.3M Hong Kong counterfeit bust

    Fake Louis Vuitton, Gucci shoes seized in $1.3M Hong Kong counterfeit bust

    In a recent operation, Hong Kong officials intercepted an estimated HK$10 million worth of suspected counterfeit clothing and footwear, featuring labels from major brands such as Louis Vuitton, Gucci, and Nike. The operation, held between October 6 and 17, resulted in the confiscation of approximately 18,000 items and the arrest of two individuals, according to an announcement from the Hong Kong Customs and Excise Department.

    Details of the Seized Goods

    The confiscated merchandise included items bearing the branding of Nike, Adidas, Louis Vuitton, and Gucci. Officials believe these products were headed for foreign markets, specifically in Europe and America, to capitalize on the demand generated by large-scale global events.

    “Large events, such as sports shoe exhibitions, often see collectors and enthusiasts trading items on-site, which escalates the demand for high-quality counterfeit sports shoes,” explained Inspector Yeung Tit-fung from the department.

    Investigation and Legal Consequences

    The investigation into these cases is currently ongoing. The arrested individuals have been released on bail, pending further investigation. The Hong Kong legislation stipulates that importing or exporting products carrying a counterfeit trademark could lead to a maximum of five years imprisonment and fines reaching up to HK$500,000.

    The Customs Department revealed plans to intensify inspections and execute intelligence-driven operations to combat counterfeiting and trademark infringement activities.

    Previous Operations

    The department had previously conducted a week-long operation in late September, which focused on the city’s major shopping districts ahead of the Golden Week holiday. This operation resulted in the seizure of around 2,000 suspected counterfeit handbags, leather goods, and fashion accessories, with an estimated market value of HK$1.3 million.

    Questions & Answers

    What brands were predominantly featured among the seized goods?
    The seized items predominantly featured branding from major labels such as Louis Vuitton, Gucci, Nike, and Adidas.

    What are the legal consequences for importing or exporting counterfeit products in Hong Kong?
    In Hong Kong, the import or export of goods bearing a counterfeit trademark can result in up to five years of imprisonment and fines of up to HK$500,000.

    What measures are the Hong Kong Customs Department taking to combat counterfeiting?
    The Hong Kong Customs Department plans to enhance inspections and implement intelligence-led operations to prevent counterfeit and trademark infringement activities.