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New Delhi, Refuelling of <keyword id="1193791" type="PERSON" weightage="20" keywordseo="consumption-demand">consumption demand</keyword> must be the theme of <keyword id="10462039" type="COMPANY" weightage="20" keywordseo="the-union-budget-fy">the Union Budget FY</keyword> 2021-22 to have a <keyword id="1488486" type="PERSON" weightage="20" keywordseo="multiplier-effect">multiplier effect</keyword> on production possibilities, capex expansion, private investments and employment creation, said the industry body PHDCCI in its 10 <keyword id="9997089" type="UNKNOWN" weightage="20" keywordseo="pronged-strategy">pronged strategy</keyword> suggested to Finance Minister Nirmala Sitharaman on Saturday during the <keyword id="878868" type="COMPANY" weightage="20" keywordseo="pre-budget">Pre-Budget</keyword> consultations. The industry body's 10 pronged strategy revolves around the measures aimed at refuelling consumption and demand, and encouraging the private investments. The elements of the strategy presented to the FM includes front loading of <keyword id="691784" type="PERSON" weightage="20" keywordseo="infrastructure-investments">infrastructure investments</keyword>, establishing DFIs to fund industrial and infrastructural investments, strengthening MSMEs, reducing the costs of doing business, ease of doing exports, increasing Tax to GDP ratio. PHDCCI said any measure aimed at pushing up growth must keep agriculture and rural sector at the forefront and carry out effective reforms in social infrastructure. Economy has exhibited early signs of recovery in the recent months, however, to sustain the momentum, there is a need to ensure a great support to demand creation in the economy with lower interest rates for consumers and businesses, lesser compliances for MSMEs vis-a-vis ease of doing business at the ground level and a lower tax regime to increase the personal disposable income of the people, said Sanjay Aggarwal in a press statement. To rejuvenate the aggregate demand in the economy, infrastructure investments will give a multiplier effect. The robust growth of infrastructure is the key ingredient to realize the vision to become Atmanirbhar Bharat, said Aggarwal. The government should consider raising investment funding for the National Infrastructure Pipeline (NIP) through borrowings from overseas markets by issuance of overseas bonds through an SPV that could act as a mega Development Financial Institution- DFI, he said. The DFI could initially finance public sector infrastructure investments, and, as the economy picks up steam, could also finance the private sector infrastructure projects. In the past, governments around the world have often used DFIs to fund industrial and infrastructure investments. Financial as well as technical support extended by DFIs would help in efficient and timely infrastructural development in the country, said Aggarwal Overseas borrowing will allow the government to bring in diversification in its borrowings along with significantly reduced dependence on the domestic market, thereby leaving room for private sector to raise capital for investments, he said Analysing the Debt to GDP ratio of G20 economies, India is at a significantly better position in the G 20 economies. India stands at 14th rank with total debt to GDP ratio at 127.6% comprising of 55.3% as private debt and 72.3% as public debt. Also, we have sufficient FOREX reserves of $575 billion as on 27th November 2020, said Aggarwal. SEE ALSO: <a href="https://www.businessinsider.in/business/news/ikea-india-cfo-says-she-still-has-3500-crore-to-be-spent-in-india-the-pandemic-has-changed-targets-but-not-the-investment-plan/articleshow/79790938.cms">INTERVIEW: Ikea CFO says she still has ₹3,500 crore to be spent in India⁠— the pandemic has changed targets but not the investment plan</a> <a href="https://www.businessinsider.in/science/health/news/india-will-produce-300-million-doses-of-the-russian-sputnik-v-covid-19-vaccine-next-year/articleshow/79795341.cms">India will produce 300 million doses of the Russian Sputnik V COVID-19 vaccine next year</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms">Mrs Bectors Food Specialities IPO allotment: Here’s how to check share allotment status</a>

PHDCCI suggests ten pronged strategy to attain higher growth in FY22

New Delhi, Mar 17 () To tide over the impact of coronavirus, industry body PHD Chamber on Tuesday suggested a seven-pronged strategy, including reducing repo rate to enhance liquidity in the market and increasing working capital limits of business enterprises by 25 per cent. "Reduced cost of capital will enhance the competitiveness of exporters in the international market and help exporters to grab the opportunity of slowing China's global exports with increased markets share of India," PHD Chamber President D K Aggarwal said. He also sought reduction in excise duties and VAT on petroleum, diesel and allied products by at least 25 per cent, to bring down the prices of petrol and diesel by Rs 9-10 per litre. Such a move would be a big relief to the industry and kick start growth while reviving the spirit in the economy, he added. According to him, the government needs to enhance consumption expenditure in the economy as increased domestic demand would help the manufacturing sector to grow and maintain the capacity utilisation. He stressed that the allocation of Rs 102 lakh crore made for the National Infrastructure Pipeline for the next five years needs to be implemented for the coming financial year, as increased spending in infrastructure would give a multiplier effect and rejuvenate the aggregate demand in the economy. This would mitigate the impact of coronavirus on the country's growth trajectory, he added. "To benefit from China's decreased manufacturing production due to coronavirus outbreak, the government needs to build up a well integrated and competitive supply chain logistics...," Aggarwal said. RSN RAM

PHD Chamber suggests 7-pronged strategy to mitigate coronavirus impact on industry

<div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Leonhard FoegerSophisticated investors are looking to cash in on legal marijuana.</div></div></div><ul><li>Brendan Kennedy, the CEO of Privateer Holdings, one of the oldest and largest cannabis-focused private equity firms, shared the three components of the firm's investment thesis in an interview with Business Insider.</li><li>In cannabis, like any other industry, "brands are the future," according to Kennedy. </li><li>Privateer, founded in 2010, raised $100 million earlier this year.</li><li>Peter Thiel also backed Privateer's Series B in 2015 through the Founder's Fund. </li></ul>As <a href="http://www.businessinsider.com/category/marijuana">marijuana </a><a href="http://www.businessinsider.com/chuck-schumer-introducing-legislation-to-decriminalize-marijuana-2018-4">legalization</a> sweeps across the US, a number of dedicated investment firms are piling into the <a href="http://www.businessinsider.com/green-bits-cannabis-tech-tiger-global-2018-4">booming industry</a>. One of the oldest and largest of those firms is Seattle-based <a href="https://www.privateerholdings.com/">Privateer Holdings</a>. Since 2010 - when Brendan Kennedy, now the CEO, founded the firm along with partners Michael Blue and Christian Groh - the firm has kept to a tight investment strategy."We have a fairly simple thesis that we created almost eight years ago, and really haven't deviated from it," Kennedy, who's armed with an MBA from Yale, told Business Insider in a recent interview. "Which either means it was really good, or we're just really stubborn."Their thesis has three main parts, according to Kennedy: The first part is that cannabis is a mainstream product. Second is that the end of prohibition is inevitable. And third, brands will shape the future of the industry. The strategy seems to be working. Privateer, which functions like a Berkshire-Hathaway type holding vehicle for cannabis companies, raised a $100 million Series C round in January, putting <a href="http://www.businessinsider.com/highest-valued-marijuana-companies-insights-industry-2018-3">its valuation somewhere north of $500 million</a> (the company wouldn't disclose the specific number to Business Insider when asked). The company also counts big-name investors like Peter Thiel - who invested in the company's Series B in 2015 through <a href="https://foundersfund.com/">Founders Fund</a> - as well as a number of high-net-worth individuals and family offices among its backers. By some measures, it's the <a href="http://www.businessinsider.com/highest-valued-marijuana-companies-insights-industry-2018-3">second-highest valued cannabis firm</a> in the world, according to data from Pitchbook. That success boils down to the firm's tight investment strategy. <div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Lucy NicholsonThis is what shopping for marijuana looks like in 2018.</div></div></div><h2>Diving into Privateer's three-pronged strategy</h2>The first component of Privateer's strategy is geographically-dependent, owing to the patchwork of state and federal laws that guide the cannabis industry. In states where marijuana isn't legal, their strategy centers on the medical side of the cannabis industry - namely, that medical cannabis is a mainstream treatment, according to Kennedy. In states where <a href="http://www.businessinsider.com/legal-marijuana-states-2018-1">marijuana is legal for adult consumption</a>, like California and Colorado, Privateer looks more broadly at the adult-use market.In those states, Privateer considers retail cannabis to more generally be a mainstream product, "consumed by mainstream people," Kennedy said. Here's how this works in practice. One of Privateer's portfolio companies, <a href="https://www.tilray.ca/">Tilray</a>, a cannabis cultivator based in British Columbia, partnered with Sandoz Canada, a major pharmaceutical company, to distribute "non-combustible" (that is, pills and sprays) medicinal cannabis products to Canada's major hospitals and pharmacy chains.With Canada's <a href="http://www.businessinsider.com/justin-trudeau-says-canada-will-legalize-weed-in-2018-2017-3">impending marijuana legalization</a>, Tilray now also plans to bring Marley Natural-branded products - another one of Privateer's portfolio companies - to Canada's adult-use market. On the mainstream side of things, Kennedy's right: The <a href="http://www.businessinsider.com/marijuana-bigger-than-soda-according-to-analyst-2018-4">fastest-growing segment</a> of cannabis consumers is people over age 55, according to Vivien Azer, an analyst at the investment bank Cowen. And greater access to legal cannabis could actually hurt alcohol sales, as binge-drinking rates <a href="http://www.businessinsider.com/marijuana-bigger-than-soda-according-to-analyst-2018-4">have fallen 9% below the national average</a>, in states that have legalized the drug, Azer said in a note to clients. <div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Privateer HoldingsBrendan Kennedy, Privateer's CEO.</div></div></div>The second piece of Privateer's strategy, Kennedy said, centers on how mainstream cannabis has become in the last few years, leading to the inevitability of prohibition's end. While Privateer is paying close attention to what happens on the legislative side, the company is making long-term investment decisions based on the assumption that marijuana will eventually be legal at the federal level, or that state-legal marijuana will at least be protected by federal law. There are a number of signs Congress is taking the legalization debate seriously.Senate Minority leader Chuck Schumer announced last week that he's planning to introduce a bill to <a href="http://www.businessinsider.com/chuck-schumer-introducing-legislation-to-decriminalize-marijuana-2018-4">decriminalize marijuana at the federal level</a>, and Sen. Cory Gardner, a Colorado Republican, is working on a bipartisan bill with Sen. Elizabeth Warren of Massachusetts to protect state's rights to legalize marijuana. That bill may be introduced as early as next week after President Donald Trump promised earlier this month to support legislation protecting state's rights to legalize the drug. That's not to mention John Boehner's recent announcement that he <a href="http://www.businessinsider.com/john-boehner-former-house-speaker-to-join-board-of-marijuana-company-2018-4">plans to join the board of cannabis firm Acreage Holdings</a>. <h2>In cannabis, like any other industry, brands are the future </h2>The third piece of Privateer's strategy isn't specific to the cannabis industry - it's all about branding. "Brands will shape the future of this industry, just like every other industry," Kennedy said. "That's what we believe."Privateer's portfolio consists of four companies: <a href="https://www.marleynatural.com/">Marley Natural</a>, Bob Marley's family's cannabis brand; <a href="http://www.thegoodship.com/">Good Ship</a>, an upscale edibles manufacturer; <a href="https://www.leafly.com/">Leafly</a>, a media platform and resource for cannabis consumers, and the aforementioned <a href="https://www.tilray.ca/">Tilray</a>.<div class="KonaFilter image-container display-table float_left"><div><div class="image on-image">Jenny Cheng/ Business Insider</div></div></div>"The vision is to create a portfolio of consumer-facing cannabis brands backed by a multinational supply chain," Kennedy said. "And so we invest in what we think are global cannabis brands."Because of Privateer's success - and the mainstreaming of the cannabis industry as a whole - Kennedy said big, institutional investors are starting to show serious interest.Institutional funds, like pension funds and big venture firms, have generally been reticent to enter the space because cannabis is still considered an illegal, Schedule I drug by the US federal government.But according to Kennedy, that reticence is starting to change."We've spoken to some of the largest institutional investors in the world," Kennedy said, adding that they "wouldn't have talked to us eight years ago."Tiger Global Management, a New York City-based investment firm that manages $22 billion, led a $17 million investment into <a href="https://www.greenbits.com/">Green Bits</a>, a software platform for marijuana dispensaries earlier this month, in a sign that these big investors are warming up to cannabis."It's a global, inevitable, high-growth industry," Kennedy said. "We're rapidly approaching the point where, you know, every major global investor will have looked at the industry."The days of Cheech and Chong, tye-dye shirts, and stoned out surfer-bros are clearly coming to an end. The bankers, for better or worse, are seeing green. <h2>Read more of our cannabis industry coverage here:</h2><ul><li><a href="http://www.businessinsider.com/marijuana-industry-rising-investment-stars-2018-3">The rising stars of marijuana's investment scene that everyone from Wall Street to Silicon Valley should know</a></li><li><a href="http://www.businessinsider.com/marijuana-industry-rising-investment-stars-2018-3"></a><a href="http://www.businessinsider.com/highest-valued-marijuana-companies-insights-industry-2018-3">The highest-valued marijuana companies of 2017 reveal 2 key insights about the booming industry</a></li><li><a href="http://www.businessinsider.com/marijuana-unicorn-medmen-is-worth-billion-dollars-2018-2">A startup that runs marijuana dispensaries is America's first $1 billion marijuana 'unicorn'</a></li><li><a href="http://www.businessinsider.com/bi-prime-navy-capital-investing-in-the-public-marijuana-market-2018-2">A hedge fund that focuses solely on marijuana is crushing it</a></li><li><a href="http://www.businessinsider.com/green-bits-cannabis-tech-tiger-global-2018-4">A $22 billion investment firm led one of the largest ever funding rounds for a cannabis tech company - here's why it's a big deal for the industry</a></li></ul> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-to-bend-over-correctly-2018-4">You're probably bending over all wrong - here's the right way to do it</a></h3> <div> </div> </div>

The CEO of a Peter Thiel-backed cannabis private equity firm reveals his 3-pronged strategy for choosing investments

New Delhi, Infogain, a Silicon Valley-based <keyword id="810151" type="PERSON" weightage="20" keywordseo="digital-platform">digital platform</keyword> and <keyword id="10490223" type="UNKNOWN" weightage="20" keywordseo="software-engineering-company">software engineering company</keyword>, has acquired Absolutdata, a San Francisco Bay Area based AI and <keyword id="10490222" type="UNKNOWN" weightage="20" keywordseo="advanced-analytics-company">Advanced Analytics company</keyword>. Absolutdata's award-winning 'NAVIK AI' platform and 300 data scientists will significantly enhance Infogain's ability to engineer superior business outcomes for its clients through the use of cutting-edge AI and Analytics, Infogain said in a statement. Infogain's CEO Sunil Bhatia said: "Infogain's acquisition of Absolutdata completes our three-pronged acquisitions strategy to help customers' increasing demand for adopting digital platforms by employing strategy and experience, <keyword id="6899273" type="UNKNOWN" weightage="20" keywordseo="Cloud-Transformation">cloud transformation</keyword>, and advanced analytics and AI services". Bhatia added that the acquisition will increase Infogain's presence in additional market segments such as CPG, telecom, and pharma. Absolutdata's CEO Anil Kaul said: "Companies across the globe are increasingly looking towards a combination of Technology and AI/Analytics to drive scalable, sustained &amp; profitable business growth. The Covid-19 pandemic has further accelerated digital transformation across organisations. We are thrilled to be joining the Infogain team as we share a like-minded commitment to driving business success through disruptive technologies." "As a unified team and company, we are very well positioned to service our clients' requirements comprehensively and innovatively, as well as providing tremendous growth opportunities for Absolutdata employees," he said. This acquisition, Infogain's third in 14 months, follows its acquisitions of Houston-based Silicus Technologies and Seattle-based Revel Consulting. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade</a> <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a>

Infogain acquires AI and Advanced Analytics firm Absolutdata

<ul><li>Google announced a new feature that will allow game developers to customise their store listings on Google Play according to country groups at the Game Developers Conference (GDC) 2019 today.</li><li>The 'Country Targeted Store Listings' feature gives developers the option to create five sets of countries to target.</li><li>Google also outlined the importance of emerging markets like India and and a three-prong strategy that will help games be successful in such markets.</li></ul>Google identifies India as of the key regions in the world where emerging markets present a "big business opportunity" for game developers. And, while creators of a game already have the option to launch games in local languages, a new <a href="https://www.businessinsider.in/fortnites-biggest-competitor-was-just-named-best-game-of-2018-on-google-play/articleshow/66927042.cms">Google Play</a> feature will allow them to target their store listings to specific countries as well. 
 
 
 
 <div type="ExtQuote" text="We're seeing some really interesting trends in the industry like the explosion of gaming in India, which is not traditionally a huge gaming market. This is, in part, due to the success of PUBG Mobile. This game has become a cultural phenomenon there." auname="Tian Lim, Google Play's Vice President UX and Product at the GDC 2019"></div>









 Google Play's new 'Country Targeted Store Listings', announced at the <a href="https://www.businessinsider.in/searchresult.cms?query=game+developers+conference&amp;sortorder=effectivedate">Game Developers Conference</a> (GDC) 2019 earlier today let's game developers create up to five groups of countries to target. Localising a game or <a href="https://www.businessinsider.in/instagram-hindi-user-interface-in-local-indian-languages/articleshow/66553617.cms">any app</a> is about more than just translating the content to a local language. Cultural differences, sometimes, have to be taken into account as well. For instance, the same 11-player ball game is called 'soccer' in the US but 'football' in the UK. So, a sports game would have to take that into account even though the language would be English for both countries. 
 
 
 
 <div type="ExtQuote" text="The most common pain point that we hear from developers about store listings that although they can already localise in different languages, they want the ability to customise their store listings based on where their users live." auname="Jonathan Cheung, Google Software Engineer at the GDC 2019"></div>









 The new feature will allow game developers to customise their store listings based on where their users live as well as their locale setting. So, being able to customise the store listing means game developers will be able to localise every aspect of the game from the icon to the screenshots that are on display as well as the promo message and trailer video. 
 
 
 
 <div type="ExtQuote" text="We're excited to announce powerful new feature only available in Google Play called 'Country Targeted Store Listings'. With this feature, you can customise your store listings based on the users country as well as their locale setting and from the Play Console you can create up to five different groups of countries to serve to a completely different store listing to each group — complete with full localisation support." auname="Jonathan Chung, Google Software Engineer at the GDC 2019"></div>









 What does that mean for games in India? Google has never <a href="https://www.businessinsider.in/google-for-india-2018-heres-everything-you-need-to-know/articleshow/65581116.cms">underplayed</a> India's strategic importance. Even at the GDC 2019, partner development managers at Google, Guy Charusadhirakul and Daniel Trocoli, expressed the importance of emerging markets like India for game developers. In the three-prong strategy Google outlined to break into these emerging markets, one of the key takeaways was to localize and culturize games for specific countries. 
 
 
 
 <div type="ExtQuote" text="The reason we want to talk to you about emerging markets is because we know it is it a big business opportunity for game developers. However, these markets might be as familiar to many of you who may have been more focused on developed markets like the US, Europe, Japan and Korea." auname="Guy Charusadhirakul, Google's Partner Development Manager for South East Asia at GDC 2019"></div>









 Charusadhirakul explains that while over two-thirds of Android devices in the world are located in emerging markets, these markets have a high proportion of entry-level phones. Which is why the other two aspects of Google's strategy for game developers is to optimise games for entry-level phones and adjust the price points for local users. 
	
 
 
 <div type="image" title="Google (1)_edited" msid="68473359" hostid="261" caption="&amp;lt;p&amp;gt;34% of smartphones in India have less than 2GB RAM&amp;lt;/p&amp;gt;"></div>









 Adjusting the price point is vital because even though the income level in emerging markets like India is on the rise, they're still relatively low compared to developed countries. Despite all the hoopla around emerging markets, Google's new gaming platform, Stadia will not be available in India just yet. Stadia is built on Google's cloud network, allowing games to be played instantly on Chrome web browsers, Chromebooks and other Chrome devices cutting out the time of having to download a game. In Google CEO Sunda Pichai's own words, it's "a game platform for everyone." <div type="image" title="screen shot 2019-03-19 at 10911 pm 2" msid="68492526" hostid="261" caption="&amp;lt;p&amp;gt;Sundar Pichai during Google&amp;#39;s key note address at the Game Developers Conference 2019&amp;lt;/p&amp;gt;"></div>

 But that doesn't mean that market opportunity should be discounted. Google's own data shows that 7 of the countries among Google's top 20 grossing markets are emerging markets and that their spending has doubled over the last two years. See also: <a href="https://www.businessinsider.in/playlists-might-not-just-be-for-music-but-for-gaming-as-well/articleshow/68473089.cms">'Playlists' might not just be for music — but for gaming as well</a> <a href="https://www.businessinsider.in/googles-ambitious-plan-to-push-into-video-games-is-about-to-be-unveiled-heres-what-we-know-so-far/articleshow/68086156.cms">Google's ambitious plan to push into video games is about to be unveiled: Here's what we know so far </a> <a href="https://www.businessinsider.in/pubg-ban-leads-to-arrests-in-rajkot-india/articleshow/68404164.cms">Teens are getting arrested for playing PUBG in India</a>

Google arms mobile games with a new feature to target emerging markets like India

<div class="KonaFilter image-container float_right"><div class="image on-image">AP<keyword id="6358540" type="CITY" weightage="60" keywordseo="Sony">Sony</keyword>'s Kaz Hirai (center) bows with two other executives</div></div>TOKYO (Reuters) - Sony Corp cut its full-year profit targets after slipping to a quarterly net loss as its recovering TV operation relapsed into the red.
The Japanese electronics maker's worse-than-expected performance, a setback after years of striving to return to its former glories, also featured weak sales of video cameras and a steep slump in personal computers in the July-September quarter.
With a quarterly net loss of 19.3 billion yen ($197 million), Sony's bad-news Thursday came in stark contrast to an upbeat showing by Japanese peer Panasonic Corp. It also stirred doubts about how the best-known Japanese technology company can anchor a turnaround as rivals like Apple Inc and Samsung Electronics Co have gained dominance through heavy investment in new mobile devices.
"I still cannot see any fundamental and believable strategy for the rebirth of Sony's electronics business," said Makoto Kikuchi, CEO of Myojo Asset Management based in Tokyo.
"On the other hand Panasonic, which is shifting its business away from consumer electronics, is reporting better-than-expected results. The contrast is like night and day."
The TV operation flipped from a 5.2 billion yen operating profit in April-June - its first quarterly profit in three years - to a 9.3 billion yen operating loss.
Japan's consumer electronics makers have long been hobbled by losses from their TV operations, hit by stiff competition from Asian rivals. Many, like Panasonic, have been shifting their focus to industrial businesses such as infrastructure or supplying the auto sector, but Sony has stuck with its focus on the consumer business.
Overall, Sony cut its operating profit forecast for the year through next March to 170 billion yen from previous guidance of 230 billion yen, which would have been flat on the year.
The 170 billion yen forecast is below the average of 221 billion yen expected by 22 analysts surveyed by Thomson Reuters I/B/E/S.
Since Chief Executive Kazuo Hirai took the helm last year, Sony has promised a rebound in hardware with a three-pronged strategy focused on mobile devices, imaging technology and gaming.
But only a few of its consumer product divisions, including smartphones, showed signs of holding up in the latest quarter. Sony said it still expects to sell 42 million smartphones this fiscal year, unchanged from previous guidance.
There have also been signs of a strong debut next month in the U.S. and other key markets for Sony's new PlayStation 4 game console, based on preorders. As with previous consoles, development and rollout costs have been steep, although Sony has pledged to turn a profit much faster than the four years it took for the previous iteration of the console to make money.
Sony, under pressure from major shareholder and hedge fund manager Daniel Loeb to generate more value from its entertainment division, also posted a 17.8 billion yen second-quarter operating loss in its pictures division. Of eight divisions, only music and financial services units managed to boost profit from a year ago.
"I think we're at a stage where they really should be reconsidering their (three-pronged) strategy but the company is not going there yet," said Myojo Asset's Kikuchi.
(Reporting by Sophie Knight; Editing by Edmund Klamann, Ryan Woo and Kenneth Maxwell)

Sony Slashes Profit Outlook With TV Business Back In Red

<keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword> has been on a credit growth spree since 2008, when Western households began to deleverage in the face of the global financial crisis hurting Chinese exports. 
Societe Generale's Wei Yao writes that China's debt level has since surged to 210% of GDP, from 150% of GDP in 2008. And the problem is it's taking more and <a href="http://www.businessinsider.com/main-china-bear-argument-2013-5">more credit growth to deliver less and less economic growth.</a>
Chinese policymakers are well aware of the dangers of this rapid growth in debt, and the "alarmingly high level of corporate debt." And the shadow banking system is only making this problem worse.
"<keyword id="988441" type="UNKNOWN" weightage="60" keywordseo="deleveraging">Deleveraging</keyword> will be the biggest source of downside risk to China's medium-term outlook," writes Yao. While some argue that the underlying assumption is that the state will guarantee its debt, it is important to remember that China's financial system is liberalizing and this means moving away from "100% state guarantees."
To tackle this massive debt problem, Chinese policymakers are employing a three pronged strategy. 1. They are trying to slow credit growth so the debt risk accumulates at a slower pace. 2. The less toxic part of bad debt needs to be rolled over with new financial instruments, taking the pressure off banks. 3. Non-performing loans are being disposed of.
Here's a visualization of that strategy and how it will impact growth:
<div class="image-container"><div class="image">Societe Generale</div></div>
China has been one of the few countries that has successfully managed to deleverage in the past without seeing a sharp correction. "This means that there is a glimmer of hope that China may be able to do it again," says Yao.
Here's the main difference between now and then from SocGen:
<div class="image-container"><div class="image">Societe Generale</div></div>

Here's What China Is Doing To Deflate Its Enormous Debt Bubble

<div class="KonaFilter image-container float_right"><div class="image">Sandy Huffaker/Getty Images</div></div>Best Buy's turnaround strategy might contain a fatal flaw. 
In order to compete with e-commerce giant Amazon, Best Buy has promised to pour money into training store associated to be more knowledgeable about products, writes Doug Stephens, founder of industry website <a href="http://www.retailprophet.com/">Retail Prophet</a> and author of "<a href="http://www.retailprophet.com/home/my-book/" title="MY BOOK">The Retail Revival: Re-Imagining Business for the New Age of Consumerism</a>." 
The company also started aggressively price-matching to ensure customers got the lowest price at Best Buy. 
Stephens points out that this two-prong strategy is actually a paradox. 
"A chain like Best Buy cannot pour significant costs into training while at the same time wading into the deep, dark water of price competition with Amazon, which it has done through its price matching policy," Stephens writes <a href="http://www.retailprophet.com/blog/the-future-of-retail-death-of-a-salesman/">on his blog</a>. "It's simply not mathematically possible or strategically wise to attempt to do both."
Training and educating workers on products takes time and money. Workers who are experts on the product generally expect to make more than minimum-wage. 
This is a problem for Best Buy, which has promised to offer the absolute lowest prices. 
Paying workers more might not put the company in a position to follow through. 
"Any retailer who is serious about hiring, training and retaining true product experts, cannot simultaneously be the low-price leader in the market," Stephens writes. 
He believes that Best Buy and other retailers <a href="http://www.businessinsider.com/retail-workers-replaced-by-robots-2014-3">will begin resorting</a> to artificial intelligence in stores to fill the information gap.

Best Buy's Turnaround Strategy Has One Huge Paradox 

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">FacebookFacebook CEO Mark Zuckerberg.</div></div></div>Get ready for the videos you scroll past in your Facebook feed to play with the sound on.After initially muting videos by default, Facebook announced on Tuesday that videos on its social network will now play with the sound enabled.Facebook said it's making the change after getting <a href="http://newsroom.fb.com/news/2017/02/new-ways-to-watch-facebook-video/">"positive feedback"</a> from users it has already tested the experience with, but the move could potentially anger users that have grown accustomed to only hearing sound when they choose to tap into a playing video.The main catch is that videos will still be muted by default if your phone is set to silent. Facebook is also letting people disable the behavior entirely by unchecking a new "Videos in News Feed Start With Sound" option in its app's settings.Facebook enabling sound by default is just one part of its multi-pronged strategy to be more of a destination for watching videos. The company is also <a href="http://www.businessinsider.com/facebook-to-launch-a-standalone-tv-app-for-watching-videos-2017-2">releasing a standalone TV app</a> and <a href="http://www.businessinsider.com/mina-lefevre-facebook-hires-mtv-executive-to-create-original-shows-2017-2">funding its own original shows</a>. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/facebook-360-degree-photo-camera-photography-2017-1">Here's how to make one of those immersive 360-degree Facebook photos</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="NzcjVhNDE6uwbJ72tRNLc99VfW7t7M5p" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Like it or not, Facebook is going to start autoplaying videos with the sound on

He laid out a four-pronged strategy, which he dubbed a "counterterrorism strategy," that combines expanding a coalition-led air campaign with support for Iraqi, Kurdish, and Syrian opposition forces on the ground.
In a nutshell, here are the four elements of his strategy:
 Airstrikes: This will include an expansion that goes far beyond the more-than 150 airstrikes the U.S. military has already carried out against ISIS targets in Iraq. Obama also said he was prepared to strike ISIS targets in Syria as well as Iraq. 
"We are going to take airstrikes in Syria at a time and place of our choosing," a senior administration official told reporters while previewing Obama's speech Wednesday. "This is something the president has decided to do. We will take action on the Syrian side of the border to degrade ISIL. But we're not going to telegraph our punches."
 Increased support to allied forces on the ground. Obama said he is sending an additional 475 troops to Iraq to assist Iraqi Security Forces, as well as the Kurdish peshmerga, with training, intelligence, and equipment. 
Obama also said he's asking Congress to grant his administration the authority to arm and train moderate factions of the Syrian opposition that are fighting both ISIS and the regime of Syrian President Bashar al-Assad.
"In the fight against ISIL, we cannot rely on an Assad regime that terrorizes its people; a regime that will never regain the legitimacy it has lost. Instead, we must strengthen the opposition as the best counterweight to extremists like ISIL," Obama said. 
 Counterterrorism. Obama outlined a coalition-based effort to "prevent" ISIS attacks by working to cut off its funding, improving intelligence-gathering, making a push to counter its "warped ideology," and stopping the flow of foreign fighters joining the group.
 Continued humanitarian assistance. Obama said the U.S. and allies must continue to provide humanitarian support to groups threatened by ISIS - Sunni and Shia Muslims, as well as Christian minorities. "We cannot allow these communities to be driven from their ancient homelands." 
All four pieces of the strategy lead to one main objective, which Obama said was clear: "We will degrade, and ultimately destroy, ISIL." 
Obama said he was confident that, on all four elements of his strategy, the U.S. would be joined by a broad base of allies.

This Is Obama's Four Part Strategy To 'Destroy' And 'Eradicate' ISIS

<section data-track-content="" data-post-type="post"><div><div data-piano-inline-content-wrapper=""><div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Andres StapffMarijuana stocks are surging after Canada becomes the first G7 country to legalize it.</div></div></div><ul><li>Marijuana stocks are surging after Canada became the second country in the world to legalize the drug.</li><li>The Canadian Marijuana Index was up 3.34% as of 10:45 a.m.</li></ul>Marijuana stocks surged Wednesday morning after Canada legalized the drug.The Canadian Marijuana Index, an aggregate measurement of all <a href="http://www.businessinsider.com/marijuana-company-cronos-group-lists-on-nasdaq-2018-2">publicly-listed marijuana stocks</a> in Canada, was up 3.34% as of 10:45 a.m. on Wednesday. The overall <a href="https://marijuanaindex.com/">North American index,</a> which includes US stocks, was up 2.28%.Golden Leaf Holdings, a Canadian Securities Exchange-listed cannabis company, was the biggest gainer with the stock surging 6.81%.Overall, legalized marijuana is expected to be a boon for Canada's economy. CIBC, one of the country's largest banks, <a href="http://www.businessinsider.com/marijuana-canada-eclipse-liquor-sales-2020-2018-5">predicts</a> Canada's legal <a href="http://www.businessinsider.com/category/marijuana">marijuana</a> market will be a $6.5 billion industry by 2020.A number of Canadian marijuana firms, including <a href="http://www.businessinsider.com/marijuana-aurora-medreleaf-merge-in-a-2-billion-deal-2018-5">Aurora Cannabis</a> and <a href="http://www.businessinsider.com/photos-canopy-growth-tweed-marijuana-grow-site-2017-3">Canopy Growth Corp</a> are seeing a wave of investor excitement around marijuana legalization. Marijuana companies are capitalizing on all that liquidity to go on acquisition sprees.</div></div></section><section><section data-e2e-name="see-also-wrapper" data-track-event-label="see-also"><h2>Read more cannabis industry coverage:</h2><ul><li><a href="http://www.businessinsider.com/marijuana-industry-rising-investment-stars-2018-3">The rising stars of marijuana's investment scene that everyone from Wall Street to Silicon Valley should know</a></li><li><a href="http://www.businessinsider.com/marijuana-private-equity-fund-manager-investments-2018-6">A top cannabis private equity fund manager reveals how he picks companies to invest in</a></li><li><a href="http://www.businessinsider.com/how-to-choose-marijuana-investments-according-to-privateer-ceo-2018-4">The CEO of a Peter Thiel-backed cannabis private equity firm reveals his 3-pronged strategy for choosing investments</a></li><li><a href="http://www.businessinsider.com/marijuana-industry-quietly-dominated-by-canaccord-genuity-2018-5">This investment bank is quietly dominating the booming marijuana industry - but big banks are starting to muscle their way in</a></li><li><a href="http://www.businessinsider.com/green-bits-cannabis-tech-tiger-global-2018-4">A $22 billion investment firm led one of the largest ever funding rounds for a cannabis tech company - here's why it's a big deal for the industry</a></li><li><a href="http://www.businessinsider.com/shopify-plan-dominate-marijuana-industry-2018-5">Inside Shopify's strategy for dominating the booming cannabis industry</a></li></ul></section></section> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/trump-pitches-peace-to-kim-jong-un-with-bizarre-hollywood-style-video-2018-6">Trump pitched peace to Kim Jong Un with this Hollywood-style video starring Kim as the leading man</a></h3> <div> </div> </div>

Marijuana stocks are surging after Canada legalizes the drug

<ul class="summary-list"><li>The Soviet Union's strategy that precipitated the US exit from Vietnam holds lessons for Ukraine. </li><li>The Soviets and Chinese provided Vietnam with weapons that negated the US's airpower advantage.</li></ul>Ukraine can defeat Russia if it and its Western backers learn from America's failure in the Vietnam War, a Ukrainian security expert argues.That war has parallels with Ukraine's fight today. The North Vietnamese thwarted vastly superior American firepower with strategies backed by massive Soviet and Chinese military aid. They are a playbook for how Ukraine might compel Russia to <a target="_blank" href="https://www.businessinsider.com/trump-advisors-peace-plans-ukraine-demilitarized-zone-no-aid-russia-2024-11">make peace</a> within two years, argues Oleksandr Danylyuk, a former top Ukrainian security official and now an analyst for the Royal United Services Institute, a British think tank."The example of the Vietnam War is important primarily because victory for Ukraine is possible only if Russian troops are withdrawn from its territory," Danylyuk said in an <a target="_blank" href="https://rusi.org/explore-our-research/publications/rusi-newsbrief/lessons-vietnam-ukrainian-victory-plan">essay</a> for RUSI. "The creation of conditions under which Russia cannot and is not willing to continue the war, and therefore is forced to leave Ukraine, should be the strategic goal of the pro-Ukrainian coalition."Danylyuk attributes America's failure in Vietnam to a "protracted multi-dimensional strategy by the Soviet Union, on whose help it was completely dependent." The Soviet Union and China supplied Hanoi with ample weapons and other aid, including anti-aircraft weapons to neutralize the US's airpower advantages. The Soviets sent 15,000 military specialists such as air defense experts, while <a target="_blank" href="https://www.washingtonpost.com/archive/politics/1989/05/17/china-admits-combat-in-vietnam-war/6b9cb8a4-4d18-48bf-80d2-bea80f64057c/">China dispatched 320,000 personnel</a> who mostly handled combat support tasks such as logistics, freeing up North Vietnamese manpower for combat duties.Meanwhile, the burden of the war US economy became intolerable, as the Johnson administration refused to raise taxes or cut social programs, leading to deficit spending and inflation. <a target="_blank" href="https://www.businessinsider.com/largest-marches-us-history-2017-1">Anti-war protests</a> — some incited and financed by the Communist bloc — and war-weariness among the general public led the Nixon administration to withdraw American troops. By the time North Vietnamese tanks entered Saigon in 1975, the US was reeling from recession and high oil prices, with no more appetite to aid South Vietnam.Danylyuk admits that <a target="_blank" href="https://www.businessinsider.com/ukraine-facing-powerful-russian-offensive-in-east-grim-outlook-2024-11">Ukraine's situation</a> differs from North Vietnam's in many aspects. "It does not need the presence of allied troops to repel aggression, is not a technologically backward country, and has proven that it cannot only use, but also produce the most modern types of weaponry."Yet, ironically, Danylyuk believes that the keys to defeating Russia's invasion now can be found in the Soviet Union's multi-pronged strategy in Vietnam.<div type="image" title="US Marines wade through a rice paddy in an assault on Viet Cong positions in 1965." height="1383" width="2000" msid="115358659" hostid="261" sizebytes="304174"></div>The first prong of this strategy would be to "stabilize the frontline and to render any successful offensive actions by Russian troops impossible." This would require stopping the Russian <a target="_blank" href="https://www.businessinsider.com/ukraine-turns-tables-russia-drops-glide-bombs-on-its-territory-2024-8">glide bomb</a> attacks that are devastating Ukrainian frontline positions. Rather than trying to stop the bombs themselves, Danylyuk suggests the West provide more fighters armed with long-range air-to-air missiles — in particular <a target="_blank" href="https://www.businessinsider.com/why-ukraine-needs-gripen-fighter-jets-long-term-f-16s-2024-10">Sweden's Gripen jet</a> with Meteor missiles — to shoot down Russian aircraft before they can release glide bombs. His paper notes that the Soviets provided Vietnam 155 MiG fighters in three years alone.Or, if the West is willing to provide "several billion dollars," Ukraine can produce enough long-range <a target="_blank" href="https://newsukraine.rbc.ua/news/romania-and-ukraine-to-develop-neptune-missiles-1722693809.html">Neptune cruise missiles</a> to destroy the Russian airbases and aircraft from which the bombing runs are launched. These weapons would also force Russia to redeploy air defense systems, such as S-300 and <a target="_blank" href="https://www.businessinsider.com/russia-s-400-formidable-not-quite-up-to-the-hype-2024-5">S-400</a> anti-aircraft missiles, from Ukraine back to Russia. In addition, Ukraine should also try to kill as many Russian troops as possible to force the Kremlin into another mobilization likely to be deeply unpopular. "Accomplishing this task directly depends on Ukraine's ability to achieve fire parity on the contact line, which requires the West, in turn, to produce a sufficient amount of artillery ammunition," Danylyuk said.In 1965, when major US combat operations in Vietnam began, the majority of the American public <a target="_blank" href="https://www.statista.com/statistics/1334328/vietnam-war-us-public-opinion-mistake/">backed </a>US intervention. But a US commitment that swelled to 543,000 personnel by 1969, along with growing resentment over the draft and 58,000 American personnel killed, eroded that support.On the economic front, Danylyuk urges the West to bankrupt the Russian war effort by seeking to lower the price of oil, which provides much of Russia's revenues. He points to the collapse of the Soviet Union, caused in part by falling oil prices in the 1980s. This would require other nations to boost oil production to depress prices."It must be recognized that attempts to apply restrictions on the price of Russian oil alone have not worked, and without replacing Russia's share of the world market by increasing production elsewhere, the situation will remain favorable for Moscow," said Danylyuk. Indeed, Saudi Arabia and some of its OPEC allies plan to <a target="_blank" href="https://oilprice.com/Energy/Crude-Oil/How-Saudi-Oil-Policies-Could-Cripple-Russias-War-Effort.html">produce more oil</a> and cut prices.Psychologically, the West should tap into Russian <a target="_blank" href="https://www.businessinsider.com/russians-resisting-crackdown-war-dissidents-paying-2024-3">anti-war sentiment</a> — heavily suppressed by Vladimir Putin's government, but still simmering. "The only explanation for the lack of a mass anti-war movement and large-scale protests is the absence of an organized and popular opposition in Russia," Danylyuk said. "Under such conditions, there is no alternative to providing organizational and financial support for such a movement from the outside."Danylyuk's plan is ambitious, to say the least. Compelling Russia to make peace on the battlefield seems unlikely at least in the short term, as Russian forces advance slowly, <a target="_blank" href="https://www.businessinsider.com/russia-lost-1200-a-day-highest-since-war-began-intel-2024-5">painfully</a> but inexorably. Whether Saudi Arabia and other oil producers would choose to depress oil prices in the long term remains to be seen. Banking on the Russian public's anti-war sentiment is chancy, given the intense repression and propaganda of Putin's government.But the alternative is even worse, Danylyuk warns. Without a strategy to force Russia to <a target="_blank" href="https://www.businessinsider.com/what-trump-picks-mean-for-ukraine-skepticism-time-pressure-2024-11">end the war</a>, the outcome will be to "exhaust Ukraine and the West and allow Russia to implement its own multidimensional plan to end support for Ukraine, according to which Kyiv would be added to the list of cities that have become symbols of the West's geopolitical defeats: Kabul and Saigon."Michael Peck is a defense writer whose work has appeared in Forbes, Defense News, Foreign Policy magazine, and other publications. He holds an MA in political science from Rutgers Univ. Follow him on <a target="_blank" href="https://www.twitter.com/@mipeck1">Twitter</a> and <a target="_blank" href="https://www.linkedin.com/in/mipeck/">LinkedIn</a>.

America's defeat in Vietnam offers a game plan for Ukrainian victory  

New Delhi, The <keyword id="19895782" type="General" weightage="20" keywordseo="Election-Commission" source="keywords" meta.keywordsubtype="org" meta.entityname="Election Commission" meta.hostid="261" meta.entityid="Election Commission">Election Commission</keyword> on Friday said it has identified 266 <keyword id="20809469" type="General" weightage="20" keywordseo="parliamentary-constituencies" source="keywords">parliamentary constituencies</keyword>, including 215 in rural areas, with <keyword id="21207154" type="General" weightage="20" keywordseo="low-voter-turnout" source="keywords">low voter turnout</keyword> and is planning <keyword id="21207534" type="General" weightage="20" keywordseo="targeted-intervention" source="keywords">targeted intervention</keyword> to enhance <keyword id="19973117" type="General" weightage="20" keywordseo="voting-percentage" source="keywords">voting percentage</keyword> in the upcoming <keyword id="19912155" type="General" weightage="20" keywordseo="Lok-Sabha-polls" source="keywords">Lok Sabha polls</keyword>. Municipal commissioners from major cities and select district election officers from Bihar and Uttar Pradesh discussed enhancing voter engagement and participation in identified urban and rural Lok Sabha seats. At its conference on low <keyword id="20108198" type="General" weightage="20" keywordseo="voter-turnout" source="keywords">voter turnout</keyword> here, the EC said 266 parliamentary constituencies -- 215 rural and 51 urban -- with low voter turnout have been identified. Eleven states and Union territories - Bihar, Uttar Pradesh, Delhi, Maharashtra, Uttarakhand, Telangana, Gujarat, Punjab, Rajasthan, Jammu and Kashmir and Jharkhand - had a voter turnout lower than the national average of 67.40 per cent in the 2019 Lok Sabha polls. Addressing the participants, <keyword id="19998985" type="General" weightage="20" keywordseo="Chief-Election-Commissioner" source="keywords">Chief Election Commissioner</keyword> Rajiv Kumar stressed that 'one size fits all' approach will not work and different strategies have to be worked out for different areas and segments. Polling for the seven-phased Lok Sabha polls begins on April 19. Kumar emphasised on a three-pronged strategy of providing facilitation at polling stations, such as queue management, sheltered parking in congested areas; targeted outreach and communication; and involvement of critical stakeholders including RWAs, local icons and youth influencers to persuade people to come to polling stations on voting day. He told officials to prepare a booth-wise action plan for enhanced participation and behaviour change. He asked the participants to prepare different strategies for urban and rural areas and plan interventions accordingly for different target audiences. Discussions were centred on critical issues such as optimising queue management at polling stations and facilitating voting in high-rise buildings. Urban specific hurdles to increased voter turnout were identified and targeted city-specific interventions were planned. The officers were encouraged to develop tailored, region-specific outreach programs that resonate with the unique needs and demographics of their constituencies. The Commission recalled that nearly 29.7 crore eligible voters did not vote in the 2019 Lok Sabha elections "underscoring the scale of the problem which calls for proactive measures". In the last Lok Sabha elections, of the 50 seats with the lowest voter turnout, 17 were in metropolitans or major cities. It said recent elections across various states have highlighted trends of urban apathy towards the electoral process, warranting targeted interventions and collaborative endeavours.

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