 As the wine and spirits has a long tradition in Croatia and a large ritual role. In the folk tradition, like many domestic products, spirits known as a natural remedyespecially useful for treating colds, flu, stomach pains and it can be used to disinfect wounds. From ancient times to the spirits offered to all guests, are also often combined with some seasoning. The most widely drunk chilled as an aperitif. In particular, fits with the cheese, ham or kulen. We bring some of the Croatian brandy we recommend you to try or take home as a souvenir: Travarica
produced from the brandy. The characteristic aroma and down because of numerous Dalmatian grass brandy makes this group the best appetizer.
 Lozovača
It is produced by distillation of fermented grape marc traditional technologies; in a specific way. It has a distinctive aroma and flavor. It has a long tradition and is a witness to all the important moments of life in this region.
 Grappa
This natural spirit is produced by distillation of wine and came to boil husk varieties Bogdanuša and Plavac Mali. There are crystal color and exquisite aroma of ripe grapes. It is recommended to use well chilled as an aperitif before a meal or as a digestive.
 HerbaNatural Grappa, supplemented with fruits and distillation macerated parts of medicinal plants from the ecologically cleanest areas of the island Hvar. It has a subtle aromatic odor, bitter taste and a crystalline yellow-greenish color. It is recommended lightly chilled as an aperitif or digestive. |
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August 20, 2015
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| AUTOMOTIVE | ||
| Monterey Car Week Auctions: The cars which fetched more than a million | ||
 | Monterey Car Week saw more auctions and more cars sold than ever before, but just failed to top last year's sales total. Here's our initial analysis and all the links to the cars which sold into the million dollar club. read more | |
| ARCHITECTURE | ||
| Freedom Yurt-Cabins: A modern take on the nomadic shelter | ||
 | Aurora, Colorado-based Freedom Yurt-Cabins offers an updated take on the millennia-old yurt. The firm's eponymous shelter is available in a number of sizes, with the smallest 217 sq ft (20 sq m) model starting at just under US$12,000. read more | |
| ARCHITECTURE | ||
| Modular high-rise lets residents customize their apartments | ||
 | Furnishing a new home can be a time consuming experience. For residents of the planned Vijayawada Garden Estate in India, however, this won't be a problem. Its modular design means that everything needed for each apartment can be picked from an accompanying catalog and simply slotted into place. read more | |
| SCIENCE | ||
| Vomiting machine projects better understanding of how stomach bugs spread | ||
 | To shed further light on how norovirus, one of the world's most common pathogens, spreads between humans, scientists have built a vomiting machine to study its behaviour when projected into the air. read more | |
| AUTOMOTIVE | ||
| 2015 Monterey Car Week and Pebble Beach Concours Pictorial | ||
 | The sixty fifth anniversary of the first Pebble Beach auto racing weekend is now much greater than anyone could have envisaged when California's Monterey Peninsula community began this journey. Here's Gizmag's round-up of the 2015 event. read more | |
| SCIENCE | ||
| Brain model with maturity of 5-week-old fetus grown in a lab | ||
 | Using adult human skin cells, researchers at Ohio State University have grown the most advanced human brain model yet created in a laboratory. The nearly complete human brain took 12 weeks to grow and is equivalent in size and structure to that of a five-week old fetus. read more | |
| AUTOMOTIVE | ||
| StoreDot to scale up nanodot battery tech in pursuit of five minute-charging EVs | ||
 | After completing a round of funding for a new electric vehicle business unit, StoreDot – which last year revealed a smartphone battery that charged in 30 seconds – might just be able to deliver on its vision of EVs that can receive a full charge in just five minutes. read more | |
| MOTORCYCLES | ||
| The Ubco 2x2 tackles tough terrain, powers your tools | ||
 | The Ubco two-wheel drive electric motorbike boasts quite a skill set. Designed to handle difficult terrain, it provides ample carrying capacity, doubles as a portable power source and offers very low running costs. read more | |
| AUTOMOTIVE | ||
| Fisker and Galpin transform the Mustang into 725-hp Rocket Speedster | ||
 | Following the debut of the Galpin Rocket last year, Galpin Auto Sports and Henrik Fisker are back with the Speedster version. The new design gives the custom-bodied, 725-hp Mustang a droppable carbon fiber roof. read more | |
| SCIENCE | ||
| New record energy efficiency for artificial photosynthesis | ||
 | Researchers at Monash University claim to have created a solar-powered device that splits water to produce hydrogen at a world-record 22 percent efficiency, which is a significant step towards making cheap, efficient hydrogen production a reality. read more | |
| MARINE | ||
| Autonomous catamaran begins studying the Celtic Sea | ||
 | Have you ever wondered why the Celtic Sea is home to so many marine predators? No? Well, scientists at Britain’s National Oceanography Centre have. This month they set about finding out, using a long-endurance autonomous surface vehicle known as the C-Enduro. read more | |
| WEARABLE ELECTRONICS | ||
| Google set to roll out Android Wear's second big 2015 update | ||
 | We didn't hear much about Android Wear at Google I/O this year, with the platform's biggest updates having already arrived earlier in the year, around the time the Apple Watch launched. But today we heard about Wear's next big update, rolling out just in time for holiday gadget-shopping mania. read more | |
| MEDICAL | ||
| Wearable tech could diagnose lung problems by analyzing wheezes | ||
 | If someone is wheezing, it usually means that they have a respiratory problem. Soon, however, a wheeze-analyzing wearable device may allow doctors to know what sort of respiratory problem a patient has – and how serious it is. read more | |
| SPORTS | ||
| OnCourse Goggles designed to keep triathletes swimming straight | ||
 | For triathletes swimming in lakes or the sea, there are no lane markers to follow. That’s why OnCourse Goggles were created. Using LEDs, they show the wearer how to stay … well, on course. read more | |
| AUTOMOTIVE | ||
| Mercedes-AMG says new C 63 Coupé is sportiest C-Class ever | ||
 | The C-Class is Mercedes-AMG's best-selling model series, and now the firm has unveiled what it says is the sportiest C-Class ever. The C 63 Coupé can accelerate from 0-100 km/h in four seconds. That makes it faster than its predecessor, which held the crown of fastest C-Class ever. read more | |
| GAMES | ||
| Ten of the biggest games due out before the end of 2015 | ||
 | The last few months of the year are usually packed with quality game releases, and this year looks like it's going to be no different. The problem is that it can be difficult to know where to spend your hard-earned cash. Read on as we highlight ten of the best games set to arrive in 2015. read more | |
| URBAN TRANSPORT | ||
| Specialist vacuum company hops aboard the Hyperloop train | ||
 | Hyperloop Transportation Technologies (HTT), one of the startups attempting to make the Hyperloop a reality, has today welcomed aboard a company specializing in vacuum technology that will help shape a prototype test track due to begin construction next year. read more | |
| WEARABLE ELECTRONICS | ||
| The Microsoft Band just got even better for golfers | ||
 | Microsoft announced its partnership with TaylorMade earlier this year, and instantly brought a number of useful golfing features to its Band wearable. Things are about to get even better, with the fitness wearable now working with TaylorMade's myRoundPro service, providing in-depth post-round stats. read more | |
| SPECIAL PROMOTION FOR GIZMAG READERS | ||
| How System Restore & Factory Reset Work in Windows 10 | ||
 | You’ve upgraded to Windows 10, or you’re about to. But once you’ve made the change, you want to be certain that you can backup and restore your data quickly and conveniently. System Restore and Factory Reset have been included in Windows 10, and are better than they were in Windows 8.x. Download this free guide today to learn more! read more | |
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FRIDAY, AUGUST 21, 2015TODAY'S TOP HEADLINES | |||
M & A Novartis to Buy Multiple Sclerosis Drug From Glaxo for $1 BillionINVESTMENT BANKING Wells Fargo Said to Scale Back London Asset-Backed Debt TeamHEDGE FUNDS Nelson Peltz Picks Up Seats on Sysco's Board Days After Buying a StakeOFFERINGS How the 'Millisecond Market' Can Deter Tech I.P.O.sVENTURE CAPITAL Uber Could Reach $10.8 Billion in Bookings in 2015LEGAL/REGULATORY Credit Scores Are Rising, and Becoming More Visible | |||
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BY AMIE TSANG
INVESTORS GET FITNESS FEVER The self-help therapy pedaling session held in dim lighting to the sound of a primal dance beat has developed a cultlike following. Now the craze has spread from Victoria's Secret models and hedge fund wives to Wall Street financiers, who want to ride to big bucks on the back of SoulCycle's initial public offering, Julie Creswell reports in DealBook.
SoulCycle started out as a single studio in Manhattan in 2006. Now it operates 41 locations nationwide. It is fueled by wealthy investors, including the billionaire real estate mogul Stephen M. Ross, who owns the health club chain Equinox, which acquired a majority stake in SoulCycle in 2011. Julie Rice and Elizabeth Cutler, the co-founders, have already largely cashed out. They each received a payout of nearly $90 million in the spring when Equinox increased its stake. The spinning phenomenon has set off a boom in fitness boutiques, whosebackers also happen to be some of their best customers. Flywheel Sports, a New York competitor, has received funding from the family of Lew Frankfort, Coach's former chief executive, as well as from the private equity firm Catterton Partners. "A lot of private investors are also our consumers," said Ed Kinnaly, the chief executive. "We have a lot of financial industry folks, Wall Street or hedge fund executives, who are looking for a great workout in a short amount of time." Peloton Cycle sells $2,000 stationary bikes for home use and then streams unlimited live classes into homes for $39 a month. It counts Tiger Global Management among its investors. "We are right now targeting affluent users," said John Foley, who founded Peloton Cycle. "If we sold only to the top 5 percent, we would have a $5 to $10 billion business." Barry's Bootcamp, the cardio and strength training program that claims to "shock" the body at the cost of $34 a session, has also sold a stake to a private equity firm. All of these fitness centers are after people with money, as well as calories, to burn. And their ambitions go beyond a 45-minute class. SoulCycle's initial public offering prospectus says it hopes to expand to 250 studios in the United States alone, as well as reaching clients at home and selling a workout clothing line.
VALEANT BUYS MAKER OF 'FEMALE VIAGRA' DRUG Sprout Pharmaceuticals, which on Tuesday won regulatory approval for the first pill to aid a woman's sex drive, will be bought by Valeant Pharmaceuticals International for about $1 billion in cash,Andrew Pollack and Chad Bray report in DealBook. The deal will bring a sizable return for investors in Sprout, which is privately held and has 34 employees. A total of about $100 million has been invested in Sprout since its formation in 2011.
The company was set up by Robert and Cindy Whitehead, a couple with a long history in the pharmaceutical industry. They used it to acquire thefemale libido drug, Addyi, after the Food and Drug Administration decided not to approve it and its previous owner abandoned it. Valeant, known for growing through acquisitions, said Sprout would be the core of a new business focusing on women's health. J. Michael Pearson, the chief executive of Valeant, said that Sprout was approached three or four weeks ago after an advisory committee had recommended that the drug be approved, but that Valeant had waited until the approval actually passed before signing a deal. "I thought this would be a drug that a lot of pharmaceutical companies would not want to pursue, given the controversial nature of it," he said, adding that would mean Valeant could pay a reasonable price. Addyi has been controversial in part because of a lobbying campaign for its approval. It had also been rejected twice before. Valeant will pay $500 million in cash initially and another $500 million in the first quarter of next year. Investors in Sprout will be entitled to a share of future profits based on the achievement of certain milestones. Although a lack of sexual desire is estimated to affect one in 10 women,Addyi's commercial prospects are uncertain. Addyi is not supposed to be used by women who drink alcohol, which could significantly curb sales. It is also not clear how many insurers will pay for the drug, which might be deemed by some as a lifestyle product rather than a treatment for a medical condition. Addyi is expected to cost about $400 a month without insurance. Mr. Pearson of Valeant said that if health plans paid for male erectile dysfunction drugs like Viagra, it would be difficult for them not to also pay for Addyi. Sprout will be a bargain for Valeant if the pill meets sales expectations,Robert Cyran writes in Breakingviews. But the drug is not very effective, has some worrisome side effects and could be subject to regulatory restrictions that may crimp sales. Mr. Cyran also points out that during the F.D.A.'s approval process, Sprout promised not to advertise the drug on television or radio for 18 months. All these limits, he says, may leave Valeant with a bitter pill.
FRESH GREEK ELECTIONS Prime Minister Alexis Tsipras of Greece called for new national elections in a bid to consolidate power and press ahead with the bailout plan, Niki Kitsantonis and Jim Yardley report in The New York Times. Officials said he would seek to schedule the vote for Sept. 20.
"Your vote will determine if we represented you courageously in talks with the creditors, if this agreement is enough for us to emerge from the crisis," Mr. Tsipras said in a nationally televised address. The prime minister has been considering an election for weeks after Syriza factions split over his embracing the latest bailout plan. The deal gave Greece billions of euros in new aid from other eurozone countries, which it used to repay existing debt. This included a payment on government bonds held by the European Central Bank, which would have put Greece into default. Greece narrowly avoided another crisis by making the payment on the day it was due, Jack Ewing reports in The New York Times. Elected in January as an anti-austerity renegade pledging to get a better deal for Greece, Mr. Tsipras has since reversed course and agreed to a new bailout program, which infuriated Syriza's far left. It was passed only with the help of opposition parties. The resulting defections raised the possibility that Mr. Tsipras would not have the support to prevail in a parliamentary test of confidence in his leadership - a possibility he avoided by calling for new elections. Analysts had thought elections might be postponed until October, after the first review of Greece's progress under the new bailout. It remains unclear whether Mr. Tsipras's call for snap elections might further destabilize the economy in the short term. Yields on Greek bonds rose on Thursday, an indication that investors see more economic risk as the country heads into elections. Mr. Tsipras is betting that voters' weariness of more instability will garner him enough support to form a new government without hard-line dissenters on the left.
ON THE AGENDA John Deere holds a conference call on its third-quarter results at 10 a.m. Meg Whitman, chief executive of Hewlett-Packard, is a guest on CNBC at 9:05 a.m.
THE GLOBAL SELL-OFF Stock markets around the world plummeted on Thursday as the shocks from China's devaluation and fears about the health of the global economy continued to reverberate,Peter Eavis reports in DealBook. The sell-off then continued for a second day on Friday, deepening across Asia, Neil Gough writes in DealBook.
The biggest source of concern appears to be China's economy. The country surprised the world last week by changing the way it manages its currency. Many analysts viewed the devaluation partly as a desire to stimulate the country's economy by making Chinese goods cheaper in other currencies. But it stoked suspicions that China's economic situation may be worse than its official figures show. Investors are also fretting over whether the Federal Reservewill raise rates soon. Minutes from the July meeting were released this week and showed that officials were wary about global growth prospects before China's devaluation. The sell-off on Thursday was compounded by new data on Friday showing weakness in the Chinese economy. Output in the manufacturing sector contracted in the first three weeks of August at the fastest pace since the depths of the financial crisis. Chinese shares led the rout on Friday morning with stocks in theShanghai and Shenzhen exchanges both falling by as much as 5 percent in afternoon trading. The Nikkei 225 closed down 3 percent. All freely traded Asian currencies had weakened against the dollar except for the yen. Gold, a popular asset in times of uncertainty, rose more than 1 percent in afternoon trading.
Contact amie.tsang@nytimes.com
MERGERS & ACQUISITIONS »
Novartis to Buy Multiple Sclerosis Drug From Glaxo for $1 Billion The experimental drug ofatumumab would bolster the Swiss pharmaceutical company's portfolio of multiple sclerosis treatments.
Chinese Insurance Group Said to Be in Talks Over Novo Banco Sale Portugal's central bank is in talks with China's Anbang Insurance Group to sell Novo Banco, the Portuguese bank created out of the failed lender Banco Espírito Santo, The Wall Street Journal reports, citing a person familiar with the bidding process.
Heaven Hill Brands Buys Deep Eddy Vodka Heaven Hill Brands, the privately held owner of Evan Williams Bourbon, said it acquired Deep Eddy Vodka, which has doubled its volume annually since its introduction in 2010.
INVESTMENT BANKING »
Wells Fargo Said to Scale Back London Asset-Backed Debt TeamThe bank is downsizing its European asset-backed securities business and merging it with its credit team, Bloomberg News reports, citing three people familiar with the matter.
Deutsche Bank Said to Chase RBS's Customers Germany's biggest bank has formed a committee, known informally as the "haggis" team after the Scottish offal dish, to poach the Royal Bank of Scotland's biggest customers as the lender retreats from commercial banking outside of Britain, Bloomberg News reports, citing two people with knowledge of the matter.
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HEDGE FUNDS »
Nelson Peltz Picks Up Seats on Sysco's Board Days After Buying a Stake The food supplier Sysco added two seats to its board to accommodate the activist investor Nelson Peltz and another executive at Trian Fund Management.
Jeffrey Ubben Buys Minority Stake in United Talent Agency The agency will use the investment of undisclosed size from the activist hedge fund operator for expansion, including the acquisition of a music agency.
Hedge Fund Gains $100 Million in Two Days on China Bet A Carlyle Group hedge fund that anticipated a sudden currency-policy shift in China gained roughly $100 million in two days last week, a sign of how some bearish bets on its economy are starting to pay off.
I.P.O./OFFERINGS »
How the 'Millisecond Market' Can Deter Tech I.P.O.s The malaise of newly minted public tech companies is making executives ask, "Does it make sense for companies with a long-term thesis to be exposed to a millisecond market?"
VENTURE CAPITAL »
Uber Could Reach $10.8 Billion in Bookings in 2015 Uber's global bookings are projected to rise nearly threefold to $10.84 billion this year and reach $26.12 billion the next, according to a recent presentation for potential investors seen by Reuters.
The Robot Intelligence Race Heats Up Fanuc, the world's largest maker of automation equipment, announced a $7.3 million investment in the artificial intelligence start-up Preferred Networks.
LEGAL/REGULATORY »
Credit Scores Are Rising, and Becoming More Visible Wider access to free credit scores could be a factor in pushing the national average FICO score to its highest level in at least 10 years.
New Jersey Paid $720 Million to Exit All Swaps Under ChristieNew Jersey has terminated all of its interest rate swap agreements under Governor Chris Christie, paying banks $720 million to unravel $4.2 billion of swaps and wiping from its books a potentially big, unpredictable liquidity risk.
The British Taxman Is Coming British authorities are vowing to crackdown on tax dodgers to prove the system does not favor the rich and famous.
Gay Couples Are Eligible for Social Security Benefits, U.S. Decides The Justice Department said the Social Security Administration would apply the Supreme Court's June ruling declaring marriage a constitutional right retroactively.
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