New Cannabis Laws Give Businesses a Boost

Image

Recreational cannabis use was legalised in Oregon on 1st July, with regulations to allow retailers to sell the drug due to be in place by next year, leading shops and business to take advantage of the change in legislation when marketing and distributing products.

One such firm is Green Technology Solutions, Inc, which plans to capitalize on the new laws by cultivating growth in their products and services to take advantage of the recent increase in business they have seen across the US. The firm has a strong growth strategy and has recently acquired cannabis edibles developer Elevated Industries in order to expand in that sector, as well as working towards growing their own range of products to cater for the ever expanding industry.

Wallace W. Browne, Chief Executive Officer of Green Technology Solutions, was optimistic about the firm’s growth following the ruling in Oregon.

‘We’re very pleased, obviously, that the law is changing in Oregon and around the country. We are engaging potential business-to-business partners and clients in Oregon now, and we’re confident that we can help make cannabis production and retailing easier and more profitable for everyone involved.’

The new laws will give business the go ahead to sell cannabis and cannabis related products to customers for recreational uses, and will offer a growth industry for retailers to diversify into.

Small businesses selling cannabis and related paraphernalia will also benefit from the introduction of the Small Business Tax Equity Act of 2015, which is in the process of being passed and which acts as ‘an exception to Internal Revenue Code section 280E to allow businesses operating in compliance with state law to take deductions associated with the sale of marijuana like any other legal business’.

It is estimated that the US cannabis industry could be worth as much as $10 billion by 2018. Over half of US states have legalized the sale of cannabis for recreational purposes including Washington and Alaska.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

Pinterest to Transform Social Network Industry with New Shopping Function

Image

The image based social network will now allow users to use buyable Pins to purchase products, leading to a revolution in the social network market.

Pinterest, the social network which allows user to Pin posts which they like to their profile wall, has announced the launch in the US of buyable Pins which will allow users a safe and easy means to buy products from the site.

The scheme will be rolled out over the next few weeks, allowing customers in the U.S. access to 30 million products available for purchase from a variety of different brands such as Macy’s, Neiman Marcus and Nordstrom, as well as retailers powered by the payment software Demandware such as Gardener’s Supply Company and Michaels. Thousands of stores which use Shopify, an online selling website, such as Poler Outdoor Stuff and SOBU will also be available under the scheme.

The service will work by allowing retailers to attach buy buttons to Pins which will allow customers to purchase products. The buyable Pins will only be available on iPad and iPhone for users in the US, with the firm due to release the service on other platforms and countries if successful.

The new payment service will revolutionise social media usage, with other picture based social media platforms such as Tumblr yet to create a service allowing users to buy directly from the site. Currently, customers on other platforms can see items which are posted as for sale but have to contact the user selling them directly to arrange a PayPal purchase and shipping.

Pinterest, which is often used by firms to show- case products and to cultivate customer interest, will not allow retailers to promote their products on the site. Instead they will have to rely on organic traffic through users sharing the pins with others across the site, allowing customers more control over the shopping experience and giving the online purchases a more personal edge, with recommendations coming not from faceless business but from friends and family.

However, there will be opportunity for firms to highlight their newest products as the social media platform will offer two new services which will provide users with a convenient means of finding the buyable Pins, ‘Shop our picks’ a curated selection of seasonal goods, and ‘Shop’ for the latest buyable Pins available.

The social network also offers app Pins, recipe Pins, article Pins and place Pins which gives the users the opportunity of assigning categories to posts, a feature which is unique among social network sites. Facebook allows users to mark themselves at a location or to attach an emotion to a post and Tumblr allows users to post titles on their entries but the unique nature of Pinterest’s categorisation will open them up to a new consumer market, as customers who spend an in- creasing proportion of their leisure time browsing social media websites adjust to being able to shop whilst socialising.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY

GLOBALFOUNDRIES Close Deal to Buy IBM Semiconductor Business

Image

The acquisition was completed on 1st July and will ensure that GLOBALFOUNDRIES becomes IBM’s exclusive semiconductor processor technology provider for the next 10 years.

IBM’s successful semiconductor business has been sold to international semiconductor manufacturer GLOBALFOUNDRIES.

IBM, which has conducted research into semiconductors and other materials and has produced breakthroughs which include as copper chips, silicon germanium and quantum computing research, will continue to utilise this research to improve their leadership in mainframe, power and storage systems as well as future cloud, big data and analytics systems. The deal also secures IBM’s supply of semiconductor materials for their systems as they have made GLOBALFOUNDRIES their exclusive semiconductor processor technology provider for the next ten years.

Tom Rosamilia, the Senior Vice President of IBM Systems stated that the firm has sold the semiconductor arm of its business to allow them to research into further new products and look towards long term product and service developments.

 ‘This announcement is the next step in our long-standing relationship with GLOBALFOUNDRIES. IBM continues to invest in systems leadership, innovation and talent for the long-term. IBM is designing and developing IT systems for the digital era — including servers, storage and middleware that will empower our clients to drive new workloads and new business models.’

GLOBALFOUNDRIES is a world leader in semi- conductor manufacturing based in Silicon Valley. The firm, which began in 2009, holds one of the largest semiconductor patent portfolios in the world. They which took over Chartered Semi- conductor in January 2010 in order to expand the business, which is primarily concerned with manufacturing products using semiconductors, which are a technology that involves substances which can conduct electricity only under certain conditions. The business provides specialist technology and design solutions within the technology manufacturing industry.

Sanjay Jha, the Chief Executive Officer of GLOBALFOUNDRIES, made it clear in his statement that the acquisition is an important step in the company’s expansion. ‘Today we have significantly enhanced our technology development capabilities and reinforce our long-term commitment to investing in R&D for technology leadership. We have added world-class technologists and differentiated technologies, such as RF and ASIC, to meet our customers’ needs and accelerate our progress toward becoming a foundry powerhouse.’

The acquisition gives GLOBALFOUNDRIES 16,000 patents and applications, an impressive workforce which includes scientists and engineers with many years of semiconductor experience and numerous facilities which will drastically increase the company’s manufacturing scale. The deal also expands on investments the firm has already made in the Northeast Technology Corridor, where there industry presence now exceeds 8,000 direct employees and includes joint activities with SUNY Polytechnic Institute’s College of Nanoscale Science and Engineering in Albany, NY.

 

GLOBALFOUNDRIES will also receive direct access to IBM’s future semiconductor research as part of the deal to be IBM’s ten year semiconductor supplier.

Share this around

Share this around

Discover excellence

Wish news would travel a bit faster?

We can send you regular updates so you'll never miss a thing. Simply subscribe to our list and we'll keep you in the post!

SUBSCRIBE TODAY