Latest news with #Beacon
IOL News
7 hours ago
- Business
- IOL News
Crunch time for Beacon chocolate range as Tiger Brands hits uncertain times
Beacon chocolates face an uncertain future as Tiger Brands considers selling the brand. Image: YouTube For countless South Africans, the sight of a Beacon chocolate bar evokes feelings of nostalgia and comfort. Whether it's a casual slab snatched at the checkout or special treats like Nosh or the beloved TV Bar, these local delights have become an integral part of sharing sweet moments across generations. Yet, this emblem of South African confectionery may soon vanish from our shelves, as Tiger Brands—a towering figure in the country's food production—has revealed plans to sell its Beacon chocolate range. Founded nearly a century ago, the Beacon brand encompasses an array of popular items, from the iconic chocolate-and-marshmallow Easter eggs to the creamy slopes of Ebony and Ivory chocolates. However, current realities paint a challenging picture. CFO Thushen Govender recently shared with News24 that while no definitive decision has been made, the company is actively pursuing options to divest its chocolate category. "We will continue delivering on the strategic turnaround of the business until such time as an appropriate exit mechanism has been identified," Govender stated, leaving the future of these beloved treats hanging in the balance. CEO Tjaart Kruger further emphasised the difficulties facing the chocolate division, admitting that technological advancements had not kept pace, with the chocolate-making equipment remaining unchanged for over three decades. "The investment required to modernise the facility is now too high to justify," he explained. However, Kruger remains hopeful about the brand's potential, reiterating that 'in the hands of the right person, the Beacon chocolate brand can be a good business.' The competitive landscape presents another hurdle, as Kruger noted the challenges of competing with industry giants. "We price against Cadbury like R4 or R5 a slab cheaper and still don't get the volumes," he remarked. This disparity in scale and marketing prowess has left Beacon struggling to maintain its footprint in a market dominated by formidable competitors. While the future of Beacon chocolates remains uncertain, Tiger Brands has reassured its consumers that other cherished favourites in its sweets portfolio—such as Jelly Tots, Maynards Wine Gums, and Liquorice All Sorts—will remain unaffected by these changes. They have also confirmed that production of Beacon chocolates will continue until a suitable buyer or alternative strategy is established. The prospect of losing such a beloved brand is undoubtedly a troubling thought for loyal fans and casual consumers alike. For many, these chocolates represent more than just a snack; they are a nostalgic reminder of simpler times, family gatherings, and spontaneous treats that could turn an ordinary day into something extraordinary. As we await further announcements from Tiger Brands, our cherished Beacon chocolates might soon transition from a simple indulgence to treasured memories, leaving us all pondering the future of these iconic treats. DAILY NEWS
Yahoo
5 days ago
- Business
- Yahoo
Nokia Wi-Fi 7 Solutions to Boost Home Broadband Connectivity
Nokia Corporation NOK has expanded its Wi-Fi 7 device portfolio with the introduction of two new gateways to cater to the growth of high-capacity broadband services across operator networks. With the launch of an entry-level and a mid-tier Beacon, the company aims to deliver ultra-fast network connectivity across the home, making it an ideal solution for streaming, online gaming, video, smart home and security applications. Based on the indigenous Corteca software that forms the core of all its broadband device products, Nokia's new Beacon 4 and 9 devices boast an end-to-end lifecycle management of applications via the cloud for simple installing, uninstalling and software updates. Embedding applications independently of the operating system, the solutions maximize end-user experience and provide additional revenue opportunities for communications service providers (CSPs) by creating and monetizing better broadband dual-band Beacon 4 gateway delivers 3.6 Gbps speed over Wi-Fi, while the tri-band Beacon 9 gateway delivers blazingly fast 9.4 Gbps speed to reduce slowdowns and buffering. Leveraging Corteca, the CSPs can further mitigate potential Wi-Fi issues through automated Wi-Fi optimization capabilities that work in broadband devices and the cloud. Nokia has made significant progress in its three-phased journey of value creation: Reset, Accelerate and Scale. Its focus on capital allocation and technology leadership is expected to help it grow profitably. Nokia is on track to achieve sustainable, profitable growth and technology leadership by accelerating its product roadmap and cost competitiveness through additional 5G investments. Nokia is well-positioned for the ongoing technology cycle, given the strength of its end-to-end portfolio. The company is driving the transition of global enterprises into smart virtual networks by creating a single network for all services, converging mobile and fixed broadband, IP routing and optical networks with the software and services to manage them. Leveraging state-of-the-art technology, Nokia is transforming the way people and things communicate and connect. These include a seamless transition to 5G technology, ultra-broadband access, IP and Software Defined Networking, cloud applications and the Internet of Things. Nokia has emerged as one of the leading players in the development of advanced 5G technology and is at the forefront of extending 5G use cases in various industries. It has laid a strong foundation of innovation through substantial infrastructure investments. This has led to the establishment of an impressive portfolio comprising approximately 20,000 patent families, including more than 7,000 patent families that are deemed crucial for 5G product launch is likely to propel the stock on incremental revenue generation on the back of state-of-the-art product innovations. It is also expected to strengthen Nokia's position as a leading telecommunications equipment provider across the globe. The stock has gained 40% over the past year compared with the industry's growth of 38.9%. Image Source: Zacks Investment Research Nokia currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks Inc. IDCC carries a Zacks Rank # 2 (Buy) at present. It has a long-term growth expectation of 15%. InterDigital is a pioneer in advanced mobile technologies, enabling wireless communications and capabilities. The company designs and develops a whole range of advanced technology solutions for use in digital cellular as well as wireless 3G, 4G, and IEEE 802-related products and networks. InterDigital delivered a trailing four-quarter earnings surprise of 160.2%, on Networks Inc. JNPR, currently carrying a Zacks Rank #2, is a leading provider of networking solutions and communication devices. The company develops, designs and sells products that help to build network infrastructure used for services and applications based on single Internet protocol network worldwide. Juniper offers a broad range of routing, switching and security products. Juniper has a long-term earnings growth expectation of 12.4%. Ubiquiti Inc. UI carries a Zacks Rank #2 at present. The company offers a comprehensive portfolio of networking products and solutions for service providers and enterprises. Ubiquiti's excellent global business model, which is flexible and adaptable to evolving changes in markets, helps it to beat challenges and maximize growth. The company's effective management of its strong global network of more than 100 distributors and master resellers improved its visibility for future demand and inventory management techniques. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nokia Corporation (NOK) : Free Stock Analysis Report Juniper Networks, Inc. (JNPR) : Free Stock Analysis Report InterDigital, Inc. (IDCC) : Free Stock Analysis Report Ubiquiti Inc. (UI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Glasgow Times
26-05-2025
- Entertainment
- Glasgow Times
Glasgow School of Art lecturer to launch book and exhibition
Fiona Robertson, a lecturer in the painting and printmaking department since the late 1990s, has encapsulated her experiences in a book of drawings titled INSIDE JOB: Memories of an Art School. Some of these drawings have been reworked for an exhibition at the Beacon Arts Centre in Greenock. (Image: Christopher Bowen) The book features 100 drawings that fictionalise her memories, describing her experience of teaching fine art and exploring the dual role of artist and teacher. It also reflects on life at the art school, the impact of the two devastating fires in 2014 and 2018, and the Covid pandemic of 2020. Ms Robertson said: "I have been at the Glasgow School of Art for 28 years. (Image: Christopher Bowen) "It is a fantastic privilege to teach there. It is an exciting place to learn and to meet people from all over the world. "The last 10 years have been difficult. The fires had a huge impact. "We perhaps didn't understand what we had in the Mac building until it was gone. 'It was an amazing building. It had a huge sense of tradition. Almost a presence in itself." (Image: Christopher Bowen) She will launch her book and give guests a walkthrough of her exhibition at a free event at the Beacon at 11am on Wednesday, May 28. Tickets for the talk and exhibition are free, but can be pre-booked here. Her show expands on the work in her book, using painting and printmaking to explore materiality and impressions of memories and dreams. Ms Robertson added: "It is exciting for me to have a show of painting. "Many of the works are reworkings of my drawings in the book, but translated into a different medium. "It is more expressive and colourful and imaginative, compared to the graphic and linear nature of the drawings." The Beacon, which was recently awarded multi-year funding from Creative Scotland to support its work, has an annual programme of visual arts exhibitions. The programme is overseen by guest curator Fraser Taylor, who is an honorary professor at the Glasgow School of Art and was previously visiting artist and adjunct professor at the School of the Art Institute of Chicago. Mr Taylor said: "We are delighted to bring Fiona's work to the Beacon. "Fiona's work promises to inspire and delight audiences – and we are all looking forward to hearing her take on life as a teacher and artist at the GSA."
Indian Express
26-05-2025
- Business
- Indian Express
AI is coming for your first job: Hiring of college grads by Big Tech drops 50% since 2022
Young college graduates who are hoping to start a career in tech may find themselves competing with artificial intelligence (AI) for entry-level jobs. The hiring of new graduates at big tech companies such as Google, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla has declined by more than 50 per cent since 2022, according to a report published by SignalFire, a venture capital firm based in San Francisco, US, on May 20. In its report titled 'State of Tech Talent: 2025', SignalFire said that entry-level hiring is collapsing as a major shift was underway in the tech industry, one that is leaving new graduates behind. 'The door to tech once swung wide open for new grads. Today, it's barely cracked. The industry's obsession with hiring bright-eyed grads right out of college is colliding with new realities: smaller funding rounds, shrinking teams, fewer new grad programs, and the rise of AI,' the report read. While job roles across the board were affected in 2023, hiring for mid- and senior-level roles bounced back last year. New graduates, on the other hand, make up just seven per cent of hires by big tech firms, down from 25 per cent in 2023, as per the report. The new hiring trends in SignalFire's report were identified based on millions of data points gathered and analysed by its AI platform, Beacon, which tracked 650 million professionals and 80 million organisations. Even startups appear to be scaling back on hiring college graduates. After analysing hiring by companies that have received Series C funding from top venture capital firms in the last four years, SignalFire found that only six per cent of employees at startups are new graduates, down from 11 per cent in 2023. In 2019, prior to the pandemic, hiring of college graduates by startups was at 30 per cent. The collapse of entry-level hiring is attributed to tightening budgets and advancements in AI capabilities. The report also pointed to a perception gap, as 55 per cent of employers agreed that Gen Z workers struggle with teamwork. Amid this negative perception, 37 per cent of managers said they would choose AI over a Gen Z hire. Notably, the report stated that computer science graduates from top universities in the US have also been affected by the hiring slowdown for junior roles at big tech companies. 'As AI tools take over more routine, entry-level tasks, companies are prioritising roles that deliver high-leverage technical output. Big Tech is doubling down on machine learning and data engineering, while non-technical functions like recruiting, product, and sales keep shrinking, making it especially tough for Gen Z and early-career talent to break in,' the report read. While the report emphasised that AI is not yet upending entire job categories, the findings align with a cautionary message from LinkedIn's chief economic opportunity officer Aneesh Raman. In a New York Times op-ed published on May 25, Raman said that AI could disproportionately affect young workers by eating up jobs that could help launch their careers. 'While the technology sector is feeling the first waves of change, reflecting AI's mass adoption in this field, the erosion of traditional entry-level tasks is expected to play out in fields like finance, travel, food and professional services, too,' he said.
Scoop
22-05-2025
- Business
- Scoop
Costs Of Failed Harbour Project As Yet Unknown
Neither Whakatāne District Council, central Government nor the Te Rāhui Herenga Waka board are able to put a figure on how much money has been lost to the failed Whakatāne boat harbour project. Both the council and the ministry told Local Democracy Reporting [the Beacon] that Te Rāhui Herenga Waka Whakatāne Board was now developing a wind-down plan and part of that process would identify what had been spent to date and what may be available for redistribution to partners. When asked how long this was expected to take, Local Democracy Reporting [the Beacon] was told the Te Rahui general partner was seeking advice on the required steps before sharing the work programme with the limited partners. The boat harbour project was canned earlier this month due to rising costs caused by contaminated soils and a diminishing pay off for the community and local economy. In December last year, project manager Phil Wardale said $3.7 million had been spent so far on items such as preliminary works, soil testing security, lighting and machinery. In 2021 the council; the Crown, through Kānoa - Regional Economic Development and Investment Unit; Te Rāhui Lands Trust and Ngāti Awa Group Holdings formed a limited partnership to oversee the building on the harbour, which had been awarded fast-track consent through the Covid-19 Recovery Act 2020. The Government committed a total of $19.6 million to the project. A Ministry of Business, Innovation and Employment spokesperson said, from that, a grant of $1 million had been provided to Te Rāhui Lands Trust and a total of $9.8 million had been invested into the limited partnership to date. Whakatāne District Council committed $9.8 million to the project in its 2021-2031 Long-term Plan. Chief executive Steven Perdia said this was to come from a loan against the Harbour Endowment Fund. 'Council has introduced $5.7m to the project to date.' He said once the costs to council from the project were known that figure would be made public. Delays and cost escalations largely due to soil contamination on the former industrial dump site led to a rescoping report being presented to the Whakatāne council earlier this year, as none of the partners were prepared to put further funds into the project. On May 7, the partners announced that the boat harbour project would not proceed. Limited partnership chairman John Rae said among the reasons for not proceeding with the project was significant reduction in size of the land remediation component. He also named 'substantial changes to the broader project scope - such as the removal or reduction of the marine training facility, the reduced number of berths, the size of the hardstand and removal of the dedicated offloading wharf - and the diminished economic and community benefits that underpinned the original business case,' as reasons for not continuing.
