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China yesterday slapped sanctions on seven US companies after Washington's approval last week of a $571.3 million military aid package to Taiwan, which Beijing said infringed on its "sovereignty and territory". Last Friday, US President Joe Biden authorised the drawdown of up to $571.3 million for defence assistance to the self-ruled island, which China regards as its own territory. Washington's actions "interfere in China's internal affairs, and undermine China's sovereignty and territorial integrity", the Chinese foreign ministry said as it announced the sanctions. The statement also hit out at Washington's 2025 defence budget, which includes a security cooperation initiative with Taiwan, as well as calls for strengthened defence industrial cooperation with Taipei. Beijing will freeze the China assets of US defence companies Insitu, Hudson Technologies, Saronic Technologies, Aerkomm and Oceaneering International, as well as Raytheon's Canada and Australia subsidiaries, the ministry said. The sanctions, which kicked in yesterday, also prohibit the targeted companies from doing business with organisations and individuals inside China. The US does not officially recognise Taiwan diplomatically but it is the self-ruled island's strategic ally and largest supplier of weapons. China yesterday slapped sanctions on seven US companies after Washington's approval last week of a $571.3 million military aid package to Taiwan, which Beijing said infringed on its "sovereignty and territory". Last Friday, US President Joe Biden authorised the drawdown of up to $571.3 million for defence assistance to the self-ruled island, which China regards as its own territory. Washington's actions "interfere in China's internal affairs, and undermine China's sovereignty and territorial integrity", the Chinese foreign ministry said as it announced the sanctions. The statement also hit out at Washington's 2025 defence budget, which includes a security cooperation initiative with Taiwan, as well as calls for strengthened defence industrial cooperation with Taipei. Beijing will freeze the China assets of US defence companies Insitu, Hudson Technologies, Saronic Technologies, Aerkomm and Oceaneering International, as well as Raytheon's Canada and Australia subsidiaries, the ministry said. The sanctions, which kicked in yesterday, also prohibit the targeted companies from doing business with organisations and individuals inside China. The US does not officially recognise Taiwan diplomatically but it is the self-ruled island's strategic ally and largest supplier of weapons.Challenges for small farmers
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Picture this: You are the groom, minutes away from your Haldi ceremony, and disaster strikes – you’ve forgotten your yellow kurta. Panic sets in, but then a solution emerges: Quick Commerce. This isn’t a hypothetical scenario. Just a few weeks ago, a groom in Bengaluru faced this situation. Thanks to lightning-fast delivery in under 10 minutes, his day was saved. The retail landscape in India is being reshaped by Quick Commerce (Q-Com). Changing consumer expectations, technological advancements, and a growing digitally empowered population are making quick commerce increasingly convenient. Products ranging from groceries to household essentials, electronics to clothing, are now delivered within 10-30 minutes, with even faster deliveries expected in the future. Revolutionising retail or Threatening Kirana tradition? Quick commerce is impacting traditional Kirana stores. The All India Consumer Products Distributors Federation reports that around 200,000 Kirana stores have shut down due to competition from quick commerce platforms, with metro cities seeing the most closures. Kirana stores are struggling to maintain their customer base and profitability amid deep discounts and aggressive pricing by quick commerce companies. A report by Chryseum showed sales growth of over 280% in two years, with Gross Merchandise Value (GMV) rising from US$500 million in FY22 to US$3.3 billion in FY24, representing a 73% annual growth rate. Projections suggest the market could reach US$9.95 billion by 2029. The rise of smartphones, internet penetration, and personalised in-app experiences blend well with the demand for instant gratification, fueling this growth. However, this wave didn’t happen overnight. The COVID-19 pandemic accelerated the adoption of online shopping, and quick commerce became the go-to solution for safe, rapid deliveries. Average order values have risen from Rs. 250 to Rs. 500, indicating that consumers are willing to pay more for convenience. Also, the entry of major players like Amazon into the quick commerce space depicts the potential of the industry and its appeal to investors. Major players of the Indian Q-Com Pie The quick commerce market in India is dynamic and highly competitive, with major players vying for market share. According to India Briefings reports, in Q2 of 2024-25, Zomato Blinkit leads the sector with a 46% share, followed by Zepto at 29% and Swiggy Instamart at 25%. Blinkit’s GMV in Q2 2024-25 exceeded Rs. 6,000 crores, with a 5% quarterly growth, while Swiggy Instamart saw a 425% increase in a single quarter. These companies are employing aggressive marketing, expanding product categories, optimising existing delivery infrastructure, and streamlining dark stores to capture more market share. This competition extends beyond the aforementioned players. Even traditional e-commerce giants like Flipkart and Amazon are entering the quick commerce space. Flipkart has launched its ‘Minutes’ service, testing 15-minute deliveries in Bengaluru, while Amazon is also experimenting with a 15-minute delivery model. Specialised e-tailers like Nykaa and Myntra, which have operated solely in the e-commerce segment, are now venturing into quick commerce services, increasing competition. Myntra, for example, plans to scale its micro-hub inventory from 10,000 to nearly 100,000 styles sourced from offline stores. Reshaping real estate with dark stores Dark stores, which serve online orders only, are essential to quick commerce. These stores, hidden from the public, are strategically located to enable rapid deliveries. Swiggy Instamart, Blinkit, and Zepto operate around 1,200 dark stores in key Indian cities. Rental prices for these stores range from Rs. 40 to Rs. 250 per square foot, depending on location. Quick commerce companies must optimise logistics to ensure fast, efficient delivery. Challenges and opportunities in the quick commerce landscape Despite its rapid growth, quick commerce faces several challenges. For instance, the cost of operations is high due to delivery expenses and dark store maintenance. However, businesses are overcoming these challenges by adjusting price dynamics, increasing order values, and diversifying product offerings, such as expanding into electronics and cosmetics. Competition is fierce, with companies needing to differentiate themselves through innovative products and superior service. However, the future looks bright for quick commerce in India. The market is projected to grow sixfold between FY24 and FY27, reaching $27 billion. Currently, quick commerce represents just 3% of the grocery market and only 1% of the overall retail market, indicating vast growth potential. There’s also an emerging opportunity to cater to India’s growing affluent consumer segment, as demonstrated by premium quick commerce platforms like FirstClub, which targets the top 10% of the population. Impact on consumer behaviour and the retail industry The rapid growth of quick commerce is driven by the increasing demand from a burgeoning urban population and shifting consumer preferences. Consumers are increasingly opting for faster and more convenient delivery options. This shift is influencing buying behaviours across different e-commerce segments. To compete, many Kirana stores have partnered with new-age companies or adopted their tactics. Quick commerce also benefits the gig economy, providing flexible employment opportunities through an extensive network of delivery partners. However, success in quick commerce relies not only on speed and convenience but also on data and analytics. Companies leverage big data on customer demographics, purchase patterns, and delivery times to optimize delivery networks, personalise recommendations, predict demand fluctuations, and fine-tune pricing. This data-driven approach helps companies stay ahead in the competitive landscape and continually improve customer experiences. The growth of quick commerce in India has been phenomenal, and despite the challenges, the sector is poised to become an integral part of the country’s retail ecosystem. As key players innovate and harness data-driven insights, quick commerce is set to reshape consumer shopping habits and brand engagement in the future.NEW YORK , Dec. 27, 2024 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Chipotle Mexican Grill, Inc. (NYSE: CMG) between February 8, 2024 and October 29, 2024 , both dates inclusive (the "Class Period") and those who purchased Chipotle call options or sold put options during the Class Period, of the important January 10, 2025 lead plaintiff deadline in the securities class action first filed by the Firm. So what: If you purchased Chipotle securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. What to do next: To join the Chipotle class action, go to https://rosenlegal.com/submit-form/?case_id=30587 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 10, 2025 . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. Details of the case: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Chipotle's portion sizes were inconsistent and left many customers dissatisfied with the Company's offerings; (2) in order to address the issue and retain customer loyalty, Chipotle would have to ensure more generous portion sizes, which would increase cost of sales; and (3) as a result, defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Chipotle class action, go to https://rosenlegal.com/submit-form/?case_id=30587 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm . Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40 th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com View original content to download multimedia: https://www.prnewswire.com/news-releases/cmg-deadline-alert-cmg-investors-with-losses-in-excess-of-100k-have-opportunity-to-lead-chipotle-mexican-grill-inc-securities-fraud-lawsuit-filed-by-the-rosen-law-firm-302339657.html SOURCE THE ROSEN LAW FIRM, P. A.Green and Louisiana Tech win 85-79 in OT over Southern Illinois at Gulf Coast Showcase