Bombay& Co. selects TD Retail Card Services for private label credit card program
Mahwah, N.J. — Bombay & Co. Inc. has selected TD Retail Card Services, a unit of TD Bank, to create and administer its private label credit card.
Under the agreement, TD will direct all facets of the program for the Toronto-based company’s 50 stores located in Alberta, British Columbia, Newfoundland, Nova Scotia, Ontario and Quebec. The new Bombay & Co. credit card will offer consumers a full menu of deferred interest and equal pay programs.
The retailer, originally known as The Bombay Company, was acquired in 2008 by a family-owned company in Canada. Renamed Bombay & Co., Inc., the retailer is now 100% Canadian-owned and operated.
IBM completes acquisition of Vivisimo
Armonk, N.Y. — IBM announced it has completed the acquisition of Vivisimo, a leading provider of federated discovery and navigation software that helps organizations access and analyze big data. Financial terms will not be disclosed.
Vivisimo software automates the discovery of big data, regardless of its format or where it resides, providing decision makers with federated view of key business information necessary to drive new initiatives. The combination of IBM and Vivisimo software accelerates IBM’s big data initiatives to help clients analyze the volume, variety, and velocity of big data for strategic advantage.
IDC estimates the market for big data technology and services will grow at an annual rate of nearly 40% to reach $16.9 billion by 2015. IBM is uniquely positioned to address this opportunity with the industry’s broadest portfolio of capabilities including software, hardware, services, and innovations developed by IBM Research such as stream computing and IBM’s Watson system.
“Game-changing insights are locked inside big data and clients want an easier way to unlock its full potential,” said Arvind Krishna, general manager, Information Management, IBM Software Group. “This acquisition advances IBM’s big data capabilities, helping clients uncover new data and combine it with existing information assets for analysis that leads to smarter business decisions. No other vendor provides this depth and breadth of information management and analytics for big data.”
Visimimo will be integrated into IBM’s big data platform, which can analyze any data in motion or at rest. The platform enables clients to develop a new class of applications that perform advanced analytics on data in its native form, optimize workloads, and apply security and governance to big data.
Vivisimo brings over a decade of experience and innovation in data navigation technologies for big data. The technology is distinguished by its unique index and search capabilities that uncover data from multiple repositories, making it valuable to clients any industry.
Vivisimo has more than 140 clients in industries such as government, life sciences, manufacturing, electronics, consumer goods and financial services. Clients include Airbus, U.S. Air Force, Social Security Administration, Defense Intelligence Agency, U.S. Navy, Procter & Gamble, Bupa, and LexisNexis among others.
With the closing, approximately 120 Vivisimo employees will join IBM’s Software Group. IBM will incorporate Vivisimo technology into its big data platform and sell Vivisimo products individually based on client demand.
L.A. City Council puts end to ‘paper or plastic’ with plastic bags ban at supermarket checkouts
LOSANGELES — The Los Angeles City Council voted 13-1 to ban plastic bags at supermarket checkouts, becoming the largest city in the nation to approve such a law.
The council voted to phase out plastic bags during the next 16 months at an estimated 7,500 stores, meaning shoppers will need to bring reusable bags or purchase paper bags for 10 cents each.
Once the ban takes effect later this year, larger supermarkets will have six months to stop handing out plastic bags and smaller stores will have 12 months, after which all supermarkets will be required to charge for each paper bag they provide.
The decision brought an immediate reaction from the American Progressive Bag Alliance, which represents the plastic bag manufacturing and recycling sector. The group noted that the U.S. plastic bag manufacturing and recycling sector employs more than 30,000 people in 349 communities across the nation 1,900 of whom live in California.
“This week’s actions by the Los Angeles City Council put in motion a process that pushes Los Angeles in the wrong direction by instructing the City Attorney to draft misguided policy that will put jobs at risk and do nothing to improve the environment,” said Mark Daniels, chair of the group.
Daniels pointed out that the council’s actions were not final and do not immediately enact a bag ban.
“There are still significant steps in the process before a plastic bag ban and paper bag tax would go into effect — among them, city officials must conduct an Environmental Impact Report (EIR) and develop the draft language for the ordinance,” he said. “This process will likely take months to complete if not longer, and if at that point the ordinance is approved, there will still be an extended period of time before the ordinance in fully implemented.”
Other California cities that have imposed bans on plastic bags include San Francisco and San Jose in Northern California, and Long Beach and Santa Monica in Southern California.