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Bottled water contains alarming levels of microplastic particles, study warns of health implications

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Bottled Water

Research conducted by scientists at Columbia University has unveiled a startling revelation: an average liter of bottled water harbors approximately 240,000 detectable plastic fragments. This staggering amount, 10-100 times higher than previous estimates, poses significant health risks by infiltrating organs and the bloodstream.

Due to their exceptionally small size, nanoplastics have the capability to bypass the intestines and lungs, gaining access to the bloodstream and, subsequently, reaching vital organs like the heart and brain. Their minute scale facilitates infiltration into individual cells and allows them to cross the placenta, exerting potential impacts on the developing bodies of unborn babies.

Study co-author Beizhan Yan said, “Previously, this was just a dark area, uncharted. Toxicity studies were just guessing what’s in there. This opens a window where we can look into a world that was not exposed to us before.”

Utilizing stimulated Raman scattering microscopy, a method co-invented by study co-author Wei Min, a biophysicist at Columbia, the research employed two simultaneous lasers to induce resonance in specific molecules. The study focused on seven prevalent plastics and implemented a data-driven algorithm to analyze the obtained results.

Microplastics Found in Popular Bottled Water Brands

Researchers examined plastic particle levels, as small as 100 nanometers, in three undisclosed popular bottled water brands in the United States. Each liter was found to contain between 110,000 to 370,000 plastic fragments, with 90% classified as nanoplastics and the remaining 10% as microplastics.

Microplastics are fragments ranging in size from five millimeters down to one micrometer, which is equivalent to one-millionth of a meter. To provide context, a human hair is approximately 70 micrometers across.

The experts not only pinpointed the seven distinct types of plastics but also recorded their shapes, potentially providing valuable insights for biomedical research.

Polyethylene terephthalate (PET), commonly employed in the production of water bottles, emerged as a prevalent plastic among those identified. The study indicated that PET might find its way into the water through bottle squeezing or exposure to heat, with particle release potentially influenced by cap handling.

The study further revealed that polyamide, a form of nylon, exceeded PET in prevalence, with this occurrence linked to plastic filters utilized in the water purification process before bottling. Additionally, the researchers identified other common plastics such as polystyrene, polyvinyl chloride, and polymethyl methacrylate, all of which have diverse applications in various industrial processes.

The study emphasized that the seven sought-after plastic types constituted only 10% of the nanoparticles identified in their samples. The remaining 90% remained unidentified, suggesting the potential presence of tens of millions of unknown nanoplastics per liter.

Min said, “There is a huge world of nanoplastics to be studied…it’s not size that matters. It’s the numbers, because the smaller things are, the more easily they can get inside us.”

Continue Exploring: Consumer Reports finds ‘widespread’ plastics in food, urges immediate regulatory action

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Luckin Coffee named official coffee partner for Australian Open

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Luckin Coffee

Luckin Coffee, the prominent Chinese coffee company, has entered into a multi-year collaboration with the Australian Open, establishing itself as the official coffee partner for China and South East Asia.

As the Official Coffee Partner of the Australian Open, Luckin Coffee will be joining numerous tennis enthusiasts over the next two years to witness the exciting moments of the matches.

Luckin Coffee’s Co-Branded Products and Giveaways:

Additionally, the brand intends to launch co-branded peripherals, including coffee cups and paper bags, inspired by the Australian Open theme in Singapore and China. Furthermore, there are plans for giveaways during the Australian Open 2024.

Luckin will also feature virtual signage at the Australian Open in both China and South East Asia.

“As one of the largest coffee chain brands in China, the partnership between Luckin Coffee and the Australian Open will bring great synergy as both are leading brands representing healthy, high-quality lifestyles and will help to promote our coffee to the world,” Yang Fei, co-founder and Chief Growth Officer of Luckin Coffee.

With a presence in over 300 cities across China, Luckin Coffee boasts a network of 13,000 outlets. Having expanded to Singapore in 2023, the brand currently manages 30 outlets in the market.

Continue Exploring: Reliance’s Campa strikes major BCCI sponsorship deal, edges out Coca-Cola and PepsiCo

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Akshayakalpa Organic raises $12 Million in funding round led by A91 Partners

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Akshayakalpa Organic

Akshayakalpa Organic, a startup specializing in organic dairy products, secured INR 100 crore (approximately $12 million) in its Series C funding round, with A91 Partners leading the investment. This funding marks a significant milestone for the Bengaluru-based company, as it comes after a hiatus of 16 months.

According to regulatory filings obtained from the Registrar of Companies (RoC), Akshayakalpa Organic’s board has approved a special resolution to raise INR 100 crore or $12 million by issuing 41,35,010 Series C CCPS at an issue price of INR 241.84 each.

In the funding round, A91 Partners took the lead by contributing INR 64.8 crore, while existing investors Rainmatter Capital and British International Investment, the UK’s development financial division, injected INR 18.6 crore and INR 16.6 crore respectively.

Established by GNS Reddy and Shashi Kumar, Akshayakalpa asserts that it delivers organic milk and associated products to more than 60,000 customers every day in Bengaluru, Hyderabad, and Chennai through its direct delivery platform. The company’s offerings are accessible at 2,000 retail outlets and on all major e-commerce and quick commerce platforms.

Valuation and Shareholding of Akshayakalpa Organic

According to TheKredible estimates, the company has been valued at around INR 590 crore or $72 million post-allotment.

This tranche appears to be a part of a larger round, and the shareholding pattern may vary after the completion of Series C.

The company also passed a separate resolution to increase the size of the ESOP pool by adding fresh options worth INR 5 crore. According to TheKredible estimates, the total ESOP size of Akshayakalpa Organic, after adding fresh options, is worth INR 22.6 crore or $2.75 million.

Akshayakalpa is reportedly in discussions to raise $25 million in its Series C funding. Back in September 2022, the company successfully secured $15 million in a Series B round, with notable contributions from British International Investment, Rainmatter Foundation, and other investors. Interestingly, just last week, Country Delight, a key competitor and a prominent player in the D2C dairy sector, reportedly raised $20 million from both new and existing investors.

Continue Exploring: Organic dairy startup Akshayakalpa eyes $25 Million funding from A91 Partners, targets $75-80 Million valuation

Akshayakalpa witnessed a substantial 66% increase in revenue from operations, reaching INR 191 crore in the fiscal year ending March 2023, compared to INR 115 crore in FY22. However, according to TheKredible, its losses also rose by 89% to INR 36 crore in FY23.

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China’s Meituan grapples with $82 Billion market cap drop as competition heats up and food delivery stalls

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Meituan

Since the beginning of 2023, Meituan, the leading Chinese food delivery platform, has experienced a substantial drop of $82 billion in market capitalization. Investor apprehensions have grown due to increased competition and a warning from the company’s management regarding a potential slowdown in its core food delivery business.

The market capitalization of the tech giant has plummeted by almost 60%, dropping to 441.06 billion Hong Kong dollars ($56.4 billion) from its initial value of HK$1.08 trillion ($138.2 billion) at the start of 2023, as per data from LSEG.

Meituan’s shares have experienced a drastic decline, plunging by almost 85% from its peak of HK$460 (approximately $58.91) on February 18, 2021, to HK$70.55 as of January 9, according to data from LSEG.

The company still retains its dominance in China’s food delivery industry, securing an impressive market share of nearly 70% on the mainland, as indicated by 2022 data from the research firm ChinaIRN.

However, increased competition, notably from Ele.me, a prominent food delivery company in China owned by Alibaba, has been on the rise.

“Based on my experience, Ele.me is more aggressive [than Meituan] and have more approaches to giving [discount] coupons,” said Feifei Shen, director at The Blueshirt Group and a food delivery user in China.

“Usually, I feel I can get cheaper prices for my orders on Ele.me,” said Shen. “Only when I don’t have a coupon, I will think about Meituan.”

For the quarter ended on September 30, Alibaba reported a 16% increase in revenue for its local services segment, which includes food delivery. This growth was driven by strong performances from both Ele.me and its mobility business Amap, according to the tech giant.

On December 19, Chinese media reported that Douyin, the short-video app owned by ByteDance, was in talks with Alibaba regarding the acquisition of its Ele.me food delivery business. This development led to a drop in Meituan shares.

Hong Kong-based Blue Lotus Research Institute attributed the decline in Meituan shares to reports suggesting that ByteDance could acquire Ele.me.

In August 2022, Ele.me and Douyin collaborated to enable merchants associated with the food delivery firm to connect with users of the short-video app.

ByteDance, which announced in February last year that it was testing a food delivery service in China via Douyin, reportedly denied being in talks with Alibaba to acquire Ele.me.

Meituan’s stock faced additional pressure when the company cautioned about a potential deceleration in its food delivery business during the fourth quarter of 2023, despite having reported favorable results in the preceding quarter.

During the third-quarter earnings call, Meituan’s CFO, Shao Hui Chen, noted that various factors, including the macro environment and warm weather, were impacting delivery volumes.

“On financial outlook, we think Q4 revenue year-over-year growth for food delivery will be slightly lower than the Q3 growth rate,” he said.

Subsequent to that announcement, Meituan’s shares listed on the Hong Kong Stock Exchange plummeted by 12% to their lowest level since March 2020, as indicated by data from LSEG.

Analyst Optimism for Meituan’s Future:

Despite the macro uncertainties, analysts maintain optimism about Meituan’s outlook. On average, they have assigned a “buy” rating with a price target of HK$149.34, as per FactSet data.

On December 18, Fitch Ratings upgraded Meituan’s outlook from stable to positive.

“Meituan’s strong cash flow generation in 9M23, which is beyond Fitch’s forecast, can be sustained, as its profitability has improved due to narrowing losses from the new initiatives segment and strong market positions in core segments,” said Fitch in a report.

“However, uncertainty remains over the impact on profitability from … competition from Douyin, which could result in operating cash flow volatility over the next 6-12 months,” Fitch said.

However, experts expressed a bearish sentiment regarding the potential acquisition of Ele.me by ByteDance.

“An entry into domestic food delivery is a daunting challenge that yields very little benefits for ByteDance,” said Blue Lotus Research Institute in a Dec. 19 report, reiterating its “buy” rating on Meituan with a price target of HK$118.

“Food delivery is a very heavily operations-focused business that requires a lot of operational efficiency and (crucially) leadership attention,” said tech research firm Momentum Works in December. “Buying and operating a large food delivery platform might not be the best solution for Douyin.”

The complex food delivery terrain makes it challenging for other players to present a formidable challenge to Meituan, which is why analysts continue to favor the market leader.

“The fact that Ele.me falls much behind Meituan in market share is probably telling – when you are not the core of the group, your managers do not have the same level of commitment as compared to Meituan, for which success of food delivery is life and death,” tech research firm Momentum Works’ Jerry Chao said.

Continue Exploring: Chinese delivery giant Meituan eyes major expansion with potential acquisition of Foodpanda

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South Korea’s Daesang launches Kimchi paste and spread for global consumers

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Kimchi Paste

South Korea’s Daesang Corp. announced on Wednesday the launch of two new global products: “Do-it-yourself Kimchi Paste” and “Kimchi Spread.”

The company adapted kimchi into novel variations tailored to suit the culinary preferences of Western cultures in the United States and Europe.

Jongga’s “DIY Kimchi Paste” is a seasoning product designed to simplify the process of creating kimchi, making it as straightforward as preparing a salad.

It includes all the necessary ingredients for kimchi seasoning, including red pepper powder, garlic, pear, ginger, and more.

To complete the kimchi, one just needs to add Napa cabbage and mix. Napa cabbage can be replaced with other vegetables like cabbage, kale, and carrots.

It is available in two variations: Original, a vegan option that excludes animal ingredients such as fish sauce, and Spicy, featuring a zesty and savory flavor.

O’Food’s “Kimchi Spread” is a jam-style condiment designed for burgers, sandwiches, and biscuits, providing the option of both sweet and savory flavors.

Daesang’s Localization Strategy:

Since 2021, Daesang has been proactively pursuing the global kimchi market, employing a localization strategy that considers the preferences of international consumers.

The company has ventured into globalizing kimchi by using vegetables preferred in the West, such as cabbage, kale, and carrots. It has also introduced varieties like Rosemary Kimchi and Cilantro Kimchi tailored for locals who may not prefer the garlic scent.

Last year, it launched two types of seaweed salad kimchi.

Continue Exploring: Korea Post relaunches kimchi deliveries to the USA after COVID-19 pause

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Godrej Agrovet and Malaysia’s Sime Darby eye collaborative venture for palm oil processing unit in Telangana

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edible oil

The Telangana government announced on Tuesday that Godrej Agrovet Company Ltd has expressed interest in establishing an integrated palm oil processing unit in partnership with Malaysia’s Sime Darby in the Khammam district.

The Managing Director, Balram Singh Yadav, along with a delegation from Godrej Agrovet Company Ltd, met with Chief Minister Revanth Reddy at the state secretariat. An official release reported that during the meeting, discussions were held, and Chief Minister Reddy pledged to provide comprehensive support for the expansion of the company’s current palm oil and dairy ventures in the state.

The chief minister further recommended that the company incorporate skill development initiatives into its corporate social responsibility. The release mentioned that the chief minister proposed the delegation to investigate the significant opportunities in the state’s real estate, furniture, and consumer goods sectors. The meeting also saw the presence of State IT and Industries Minister D Sridhar Babu, Chief Secretary A Santhi Kumari, and other officials, as per the release.

Continue Exploring: India’s palm oil imports reach three-month high amid soaring discounts

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IIT Delhi unveils ‘Work4Food’ initiative to boost gig worker earnings and cut delivery costs

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Food delivery worker

The Indian Institute of Technology (IIT) Delhi has introduced the ‘Work4Food’ initiative, designed to ensure government-mandated minimum wages for food delivery workers. This innovative solution aims to reduce costs for delivery platforms while prioritizing customer satisfaction.

A team of researchers from the institute, including Abhijnan Chakraborty, Sayan Ranu, Amitabha Bagchi, and PhD scholar Anjali, developed the solution. Additionally, the proposal was showcased at the International Joint Conference on Artificial Intelligence in Vienna, Austria, in July 2022.

According to a statement released by IIT Delhi, notable aspects of the solution encompass income assurances, platform management, and personalized guarantees extended to individual delivery workers.

Chakraborty, a professor at the Computer Science and Engineering Department, IIT Delhi said, “This is an order assignment algorithm (which determines which delivery person gets which order) to ensure that each delivery person earns more than the minimum wage.”

“To achieve this without increasing the cost for the platform or the consumer, we recommend utilising the delivery workers more efficiently and reducing the habit of over-provisioning,” he said.

Reducing Travel and Emissions with ‘Work4Food’ Solutions

Given the substantial data amassed by these platforms, they can analyze historical patterns to anticipate the supply-demand dynamics in specific locations and times. Consequently, they can enlist delivery workers as per the identified requirements, he explained.

According to IIT Delhi, the minimum income guarantee provided by ‘Work4Food,’ along with the flexibility it grants to platforms for onboarding delivery agents based on demand-supply dynamics, reduces the need for unnecessary travel. This addresses a common practice among delivery agents who strategically position themselves for the next order.

“This can have a long-term effect on reducing air pollution caused by vehicular emissions, at least until the entire delivery fleet transitions to battery-operated vehicles,” Chakraborty said.

While online food delivery companies often cite the gig nature of the work and operational constraints as barriers to implementing local minimum wage guarantees, the novel solution introduced by the IIT Delhi researchers promises to address the issues, according to the release.

“We believe that our proposed solution has the potential to revolutionise the way food delivery platforms operate in India, creating a win-win situation for all parties involved — delivery workers, platforms, and customers — representing a significant step toward achieving fairness and equity within the food delivery industry,” said Bagchi.

Continue Exploring: Indian food delivery market grows by 10% sequentially in Q3: UBS report

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NCLAT rejects insolvency plea against Aditya Birla Fashion

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Aditya Birla Fashion
Aditya Birla Fashion

On Tuesday, the National Company Law Appellate Tribunal (NCLAT) dismissed a plea from an operational creditor seeking to initiate insolvency proceedings against Aditya Birla Fashion and Retail Ltd (ABFRL). The appellate tribunal upheld the Mumbai bench’s order from October 11, 2023, which had dismissed In Style Fashion’s plea based on the existence of a pre-existing dispute.

“Considering the overall facts and circumstance of the present case and in view of the foregoing discussion, we are satisfied that the Adjudicating Authority (NCLT) did not commit any error in rejecting the Section 9 Application filed by the Appellant on the ground of pre-existing dispute,” said the NCLAT.

In Style Fashion served as a franchisee and commission agent responsible for operating ABFRL’s showroom.

NCLAT Disagrees on Time-Barring in Aditya Birla Fashion Case

However, the NCLAT also said, “We do not agree with the finding of the Adjudicating Authority that the Section 9 application was time-barred and hit by limitation”.

Meanwhile, the appellate tribunal said the operational creditor has the liberty to seek remedy of its contractual disputes before any other appropriate forum.

It entered into an agreement to run showrooms for Planet Fashion and Allen Solly in 2011. However, it was closed in February 2016.

Following the closure of the showroom, the stock in trade was sent back to ABFRL by the Operational Creditor. However, it made only part payment of INR 51,283.28 on April 28, 2017.

Aggrieved by this, it sent a demand notice of INR 1.05 crore and moved the NCLT.

However, the NCLT dismissed it, which was later challenged before the appellate tribunal NCLAT.

Continue Exploring: Aditya Birla Fashion teams up with luxury shoemaker Christian Louboutin to capture Indian market

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Walmart experiments with AI to enhance customers’ shopping experiences

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Walmart
Walmart

Walmart has announced plans to expand its involvement in the realms of artificial intelligence and drones, with the goal of enhancing its customers’ shopping experiences.

In a Tuesday keynote at the CES trade show in Las Vegas, the nation’s largest retailer announced its plans to extend drone delivery services to an additional 1.8 million households in the Dallas-Fort Worth metropolitan area later this year. Although Walmart has already completed 20,000 drone deliveries across seven states, company leaders contend that this expansion highlights the growing demand and efficiency of their drone operations. Notably, Walmart executives emphasized that no other rival has come as close to achieving this level of drone concentration in households within a major metropolitan market.

Highlighting advancements in AI, Walmart introduced a generative AI-powered search feature tailored for iOS users. This innovation suggests pertinent products for customer queries spanning from football watch parties to bridal showers.

Walmart’s InHome Replenishment with AI

Additionally, the company offered a preview of InHome Replenishment, a service leveraging AI to understand consumers’ shopping patterns, ensuring a consistent supply of their preferred groceries. Walmart also unveiled a beta platform enabling customers to virtually create outfits and receive feedback from their friends.

Meanwhile, under Walmart’s ownership, Sam’s Club introduces a fresh approach to the checkout process, incorporating scan-and-go technology, self-checkout, or the conventional manned register. Departing from the typical receipt-checking procedure, the stores employ cameras at exits to capture images of items in shoppers’ carts and verify purchases based on the items they have paid for. As stated by Sam’s Club CEO Chris Nicholas, this camera technology is presently operational in ten clubs and is set to expand across the chain later this year.

Continue Exploring: Amazon, Walmart, and Target go head to head in race to accelerate delivery speeds

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Carrefour extends PepsiCo product delisting to Poland, marks Fifth country in ongoing pricing dispute

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PepsiCo
Pepsi (Representative Image)

Carrefour has delisted PepsiCo products in Poland, making it the fifth country where the companies’ pricing dispute has led to such measures.

France kicked off the boycott campaign on January 4, and Carrefour stores in Spain, Italy, and Belgium later joined the initiative. Displaying banners in their outlets, the France-headquartered supermarket giant declared, “We no longer sell this brand due to an unacceptable price increase.”

Continue Exploring: Carrefour drops PepsiCo products across four EU countries amid price dispute

PepsiCo responded last week via a spokesperson, claiming in a statement, “We’ve been in discussion with Carrefour for many months and we will continue to engage in good faith in order to try to ensure that our products are available.”

A spokesperson for Carrefour Poland said in a statement, “With reference to the emerging information about the failure of price negotiations between Carrefour and PepsiCo, the aim of which was to reduce the prices of this manufacturer’s products for customers, we would like to inform you that Carrefour Polska will also limit cooperation with this supplier on the domestic market.”

According to media reports in Poland, the prohibition on PepsiCo products extends to include items such as Quaker Oats cereal.

In terms of revenues, Europe stands as PepsiCo’s most significant geographical market, encompassing a range of brands from Lay’s and Doritos snacks to 7Up and Pepsi beverages.

In the US food heavyweight’s 2022 fiscal year, the region contributed $12.7 billion in revenue to the group total of $86.3 billion, as indicated in the company’s annual report for those 12 months. In Europe, this contribution was equally split 50-50 between beverages and “convenient foods.”

PepsiCo’s 2023 financial year ended on December 30, so any impact on sales is unlikely to be felt until at least the first quarter of the new year.

Last week, E. Leclerc, another major supermarket in France, escalated its efforts to exert pressure on food and drinks manufacturers as part of the country’s initiative to compel suppliers to reduce prices.

President Michel-Edouard Leclerc took to LinkedIn to voice his opinion in the context of price negotiations taking place.

“Like you, we are fed up with inflation. You feel like you’ve been cheated. And since we’re in a period of negotiations, we’re putting pressure on our supplier,”

“In the coming month, we must therefore convince all those large suppliers who have made the mistake to increase their prices too much, to lower them now, or to moderate them.”

Continued Pressure: Negotiations Deadline on January 31 for PepsiCo

In an interview on BFM TV on January 8, Leclerc, as reported by Reuters, stated that price negotiations with all retailers are scheduled to conclude on January 31. Confirming with the French network, E. Leclerc affirmed that they continue to carry Pepsi products.

“I continue to sell Pepsi,” he said coyly when asked if E. Leclerc would follow Carrefour’s example in withdrawing products.

Similar to France, in Poland, food-price inflation had consistently outpaced the overall economy. Nevertheless, preliminary estimates released by the local statistics agency on January 5 indicated a potential shift in this trend.

In December, the annualized growth in food and soft drink prices moderated to 5.9%, compared to 6.9% and 7.6% in the preceding two months, respectively. The overall consumer price index rose by 6.1%, showing a decrease from the 6.6% recorded in November.

Nevertheless, when assessed on a month-on-month basis, prices for food and non-alcoholic beverages experienced a marginal increase of 0.2%.

Earlier this month, France’s national statistics body, Insee, reported that food prices probably increased at an annualized rate of 7.1% in December, showing a slight decrease from 7.7% in November. This is in contrast to the 12.1% recorded in December 2022.

In its preliminary data, Insee reported that the consumer price index likely rose by 3.7% in the 12 months leading up to December, a slight uptick from 3.5% in November. This contrasts with the 5.9% annualized rate observed in December 2022.

On a month-on-month basis, overall inflation is expected to recover to a positive 0.1%, marking a turnaround from the 0.2% decline reported in November, as indicated by the statistics agency.

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