Home Blog

Seattle’s New Transportation Director on Electric Vehicles, Remote Working, Company Shuttles, and More – GeekWire

0
Greg Spotts, the new director of the Seattle Department of Transportation. (Photo SDOT)

Since leaving Los Angeles to take over as head of the Seattle Department of Transportation in September, Greg Spotts has been busy discovering his new home.

Its staff Twitter feed is packed with photos of Seattle’s roads, bridges and restaurants as he explores the city by bike, foot and public transit, inviting citizens to join him.

Spotts also defined his number one priority in a Seattle Times op-ed: making Seattle’s streets safer. One of his first tasks was to commission a review of the city’s Vision Zero plan to end road deaths and serious injuries by 2030. Last year, Seattle had the highest number of fatalities on the roads since 2006.

Spotts is the former CEO and Chief Sustainability Officer of the Los Angeles Office of Street Services, where he led efforts to make the city more walkable, bikeable and transit-friendly.

In an interview with GeekWire, Spotts talked about the importance of engaging with communities, how the tech and business sectors can support transportation in the city, electric vehicles, and more.

“I’m both a fan of Seattle and an agent of change on behalf of Seattle,” said Spotts, who founded a small music talent management company before turning to public policy.

The following interview has been edited for brevity and clarity.

What can business and technology leaders do to support transportation?

Greg Spotts: One of the reasons I came here is because Seattle is growing and its growth is fueled by innovation. I see so much excitement around innovation and transportation in this community. I think there is a lot of potential to work together.

Specifically, people can help us really understand where remote work is going so we can plan the transport network accordingly.

Also help your employees understand, on the days they come to work, how we put them back on public transport. What do we need to do as employers to make it really comfortable, easy, safe and enjoyable for people not to bring their own cars when they come to work, and maybe even onboard other things like micro-mobility, like scooters and e-bikes.

Micro-mobility makes the last mile faster and more fun. And right now, when you give your employees an ORCA card (enables transportation payments in the Seattle area), it doesn’t give them the ability to take advantage of those other opportunities.

If you could create a transportation app, what would it be?

Wouldn’t it be great if I could just grab one of these options on a map app and order it right away or locate it and pay for it? Some sort of omni-transportation app for multimodal city dwellers would be a lot of fun.

Greg Spotts. (Photo SDOT / Jeanne Clark)

Talk about common sense measures that can reduce road deaths.

It’s not just a matter of common sense. It’s really about doing the most cost-effective interventions that save lives. And it needs to be data-driven and community-informed.

But one thing I can tell you is that at a recent meeting, our traffic engineer asked me, “When will we be allowed to prioritize safety over queues? waiting, delays or any other factor in the operation of the road network? And I said, “Today. Now. Do it.”

At a time when downtown office buildings are only 35-40% occupied, we can make adjustments to signal timing and other elements with a focus on safety rather than traffic flow.

What is the role of execution?

When we are short of police, it is more difficult to staff traffic control. But there’s also this added question of how traffic law enforcement has historically sometimes brought people of color into contact with the criminal justice system in inequitable ways. Automated cameras could be a way to further deter fast driving without the kind of unintended fairness impacts of human enforcement.

Which cities do you admire for their transportation infrastructure?

There are many cities that I admire, including Seattle. One of the reasons I moved here is that there were two things here that really impressed me.

One was tearing down this Alaskan Way overpass. I could see how the environment at the water’s edge has changed dramatically.

I also thought that the brand new neighborhood created in South Lake Union was a world-class streetscape: the wide pedestrian walkways and the rain gardens, narrowing the vehicular part of the street and integrating the streetcars. I chose to live in South Lake Union because I love the built environment of this type of human-sized street so much.

“I believe the era of transport planners drawing lines on a map and then telling the community what they are going to get must be over.”

What lessons have you learned in Los Angeles that you are applying to your new job?

Two things, and they are very different. I enjoy co-creating projects with communities, especially underserved communities. I am very proud to have done this in various types of projects, large and small. I believe the days of transport planners drawing lines on a map and then telling the community what they were going to get must be over.

Second, for the past two years, I have been an innovator in adopting zero-emission vehicles in the city fleet that supports city operations and construction. I would really like to bring some of this leadership expertise to the SDOT fleet and maybe help other city departments as well.

What is the role of electric vehicles in the city?

I like the idea of ​​properly sizing the vehicle and then electrifying it. I really don’t like a 5,000 pound electric SUV that delivers two pounds of pad thai. I would prefer this delivered by a small 100 pound robot. I like the idea that the type of batteries we have today open up all sorts of new form factors for different types of vehicles.

Opinions on company shuttles?

On my listening rounds, someone recently asked: if a hospital has a little shuttle that goes around the community, would it be possible for other people to use it, a cool micro-transit link? And that’s an interesting question for corporate shuttles as well. Resource sharing could be a way to help us move towards a lower carbon footprint.

How can pedestrians, scooters, bicycles and cars get along?

I’m interested in creating a public realm that’s a nice, safe, and orderly place for whatever mode you choose to use at any given time. A great example is our Madison Street project where we are building a bus rapid transit system with bus pick-up islands and protected bike lanes. We revamped the geometry of five-way intersections for safer pedestrian and bicycle crossings. It’s the kind of project where you really change a corridor to work better and more harmoniously for all users. And I find that very exciting.

National Library on site at an additional construction cost of 837 million shillings

0

Economy

National Library on site at an additional construction cost of 837 million shillings


Auditor General CPA Nancy Gathungu. PICTURES | FRANCIS NDERITU | NMG

The Kenya National Library Services (KNLS) is set to vary the cost of building its headquarters in Nairobi by 837 million shillings.

A new report tabled in parliament shows that several alterations made during the construction of the Maktaba Kuu building in Upper Hill increased the contract amount by 40% or Sh836,651,599.

The construction of the building was expected to cost 2 billion shillings, but three variants increased the cost of the project to 2.89 billion shillings.

“However, review of project records revealed that several variations increased the amount of the contract by…40%, contrary to Section 139 of the Procurement and Disposal Act 2015, which states that the variation must not exceed 25% of the original contract price. Nancy Gathungu, the auditor general, said in a report to parliament.

Construction of the National Library of Kenya and Headquarters commenced on April 10, 2012 with an expected completion date of January 19, 2017 at a contract amount of Sh2,055,200,200 which excludes consultancy fees.

The audit shows that the project was granted three duration extensions of 65 weeks, 72 weeks and 20 weeks with the latest completion date of August 19, 2020.

The council handed over the project to the Cabinet Secretary on August 19, 2020 and the facility was officially opened on November 13, 2020.

Ms. Gathungu said a comparison report of budget and actual amounts for the development budget shows a total actual expenditure of 438.4 million shillings, which includes 362.3 million shillings related to service and 42.5 million retention shillings.

The audit report indicates that the supporting documents were not provided and that a deposit register for the recording of guarantee deductions was not kept.

“In these circumstances, the accuracy and completeness of the work-in-progress balance of 2,849,732,945 shillings could not be confirmed, while management has broken the law,” Ms Gathungu said in an opinion d audit with reservations of KNLS’s books of accounts for the year to June 2021.

→ [email protected]

Solar Alliance Energy shares shine on record financial results and more small-cap daily moves

0

11:50 a.m.: Solar Alliance Energy, Caliber Mining shares power higher

Shares of Solar Alliance Energy Inc (TSXV:SOLR) soared 36% to $0.095, on a volume of more than 1.6 million shares, on Tuesday after the solar energy solutions provider announced that its Third-quarter 2022 revenue had soared 990% year-over-year to $2,753,628, the largest quarterly solar revenue in its history, as the company said it was continuing construction of its backlog of projects under contract.

Additionally, shares of Caliber Mining Corp (TSX: CXB) gained 11% to $0.82 as the mid-tier gold producer revealed the results of the 2022 drilling program at its $100-held gold project. % in Nevada, which included 6.6 grams per tonne (g/t) gold over 5.8 meters.

Caliber noted that the results show indications of Pug-like deep feeding systems.

NG Energy International Corp (TSXV:GASX), meanwhile, announced what it called positive test results at the Brujo-1x well in Colombia. The gas junior said a total of 276.5 feet (out of a total of 389 feet of potential gas thickness in the Ciénaga de Oro formation) has been perforated with gas production rates of 11.2 million standard cubic feet per day (MMscf/d) from DST-2, 18.2 MMscf/d from DST-3 and 21.2 MMscf/d from DST-4.

Its stock rose 9% to $0.97 after the announcement.

And, shares of Southern Energy Corp (TSXV: SOU) rose 7% to $0.99 on Tuesday after the natural gas and light oil producer with assets in Mississippi reported net income of $6.6 million. dollars for the 3rd quarter of 2022, compared to 4.3 million dollars the previous year. , on sales of $19.2 million, or 268% more than the same period last year.

READ: Southern Energy posts strong third quarter as it ramps up production amid rising commodity prices

Contact Sean at [email protected]

Azerbaijani Ambassador to Kazakhstan Reveals Amount of Countries’ Mutual Investments

0

By Orientation

Azerbaijan has invested $204 million in Kazakhstan, while Kazakhstan’s investments in Azerbaijan have reached $100 million, said Ambassador Extraordinary and Plenipotentiary of Azerbaijan to Kazakhstan Agalar Atamoglanov, Orientation reports quoting the international news agency “Kazinform”.

According to the ambassador, the establishment of direct contacts between business entities and entrepreneurs of the two countries plays a central role in the development of trade and economic ties.

“Azerbaijan and Kazakhstan have established constructive cooperation in a wide range of bilateral relations. This is facilitated by regular high-level meetings, inter-parliamentary contacts and active interactions between ministries and departments. The Intergovernmental Cooperation Commission trade and economy functions successfully, enabling interaction in trade, energy, transit, transport, information and communication technology, agriculture, education and tourism,” said Atamoglanov.

He also highlighted the active collaboration between the scientific institutions of the two countries.

“Azerbaijani and Kazakh students are regularly exchanged for training and scientific internships in educational institutions. There is a center named after the national leader of Azerbaijan Heydar Aliyev at the Eurasian National University LN Gumilyov”, added the ambassador.

Follow us on twitter @AzerNewsAz

Another 15,000 added to Eye Care Leaders’ already record offense tally

0
An Air Force ophthalmologist performs surgery on a patient Sept. 1, 2022. (Army)

Another 15,000 patients were added to the tally of breaches from the Eye Care Leaders ransomware attack nearly a year ago.

Massengale Eye Care issued a breach notice to patients at the end of October, informing them that their data had also been compromised in what remains the largest incident reported in the healthcare sector this year in nearly 3.7 million affected the patients.

While mainstream media have recently warned that the CommonSpirit Health A cyberattack could affect 20 million patients, the massive healthcare system’s financial report this week again said they were still investigating and found no evidence of impact on patient data. As such, ECL still holds the questionable first position.

As reported, ECL’s EMR was hit by a ransomware attack on December 4, after a malicious actor gained access to the platform and deleted databases and system configuration files. Without the data, it was not possible to identify whether the data was accessed or exfiltrated prior to deletion.

The data compromised varied by provider and patient, and for Massengale the data could include names, contact details, dates of birth, social security numbers, diagnostic details and health insurance information.

ECL has not posted its own Notice of Violation to the Department of Health and Human Services as it defends against a vendor lawsuit accusing cloud provider EMR of covering up other deployed ransomware incidents earlier this year.

A number of suppliers affected by these alleged incidents spoken exclusively with SC Media, detailing their frustration with the obstruction. The lawsuit status was last updated in October, with at least 13 filings to extend the deadline for responding to claims and two more filings asking for the case to be dismissed. In these filings, ECL has repeatedly denied these allegations.

CorrectCare security incident rises to 607,000 people affected

Two other healthcare entities have filed notices of breach with HHS, after their medical claims processing provider CorrectCare informed them that their patient information had been exposed due to two misconfigured file databases. in July.

CorrectCare Integrated Health filed three notices with the HHS Office for Civil Rights as affecting 496,589 people, while its customers PrimeCare Medical and Mediko sent notices to 22,254 patients and 2,809 people, respectively.

Combined with the 85,466 defendants and detainees in the Louisiana Department of Public Affairs Security and fixes, the number of breaches has now reached 607,118.

As previously reported, the advisories stem from a security incident first detected by CorrectCare on July 6. Two file directories on CorrectCare’s web server were inadvertently exposed to the public internet and secured within nine hours.

The ensuing forensic investigation determined that the exposed database contained data of patients who had received care at the affected providers, dating back as far as January 1, 2012. The data included names, phone numbers social security, birth dates, inmate numbers, diagnostic codes or CPT codes, provider names and treatment dates.

The file directories did not contain any driver’s license numbers, financial account details or financial card information. CorrectCare has since implemented security enhancements to its systems.

Work Health Solutions reports email hack affecting PHI

Occupational health service provider Work Health Solutions recently notified an undisclosed number of patients that their data was exposed in an email hack more than six months ago.

The advisory does not explain when the unauthorized account access occurred, only that a single email account was hacked for more than a month between February 16 and March 24 of this year. The investigation confirmed that patient data was contained in the accounts on October 11.

As widely reported by SC Media, many email security incidents are reported far beyond the Health Insurance Portability and Accountability Act’s 60-day requirement, due to medical-legal challenges . HHS recently reminded the industry that timely reporting is required by HIPAA whether or not an investigation is underway.

For WHS, experts determined that the account contained patient names, social security numbers, driver’s license numbers, health insurance details and/or medical information. Not all patients were affected by the incident. Patients whose SSNs have been compromised will receive free credit monitoring services.

Phishing attack affects patients at 18K Gateway Ambulatory Surgery

Just over 18,000 patients linked to Gateway Ambulatory Surgery Center in North Carolina were recently notified that their data had been compromised in a phishing attack earlier this year.

The carefully written notice explains that access to two employee email accounts was first discovered in April, sparking a lengthy investigation that did not end until September. It’s unclear why the provider waited another two months to notify patients of the privacy breach.

The analysis confirmed that the access was caused by a phishing incident, which led to a three-month period of unauthorized access to these accounts between February 14 and May 10, a month after the discovery of initial access.

Access to emails and attachments cannot be excluded, prompting a comprehensive search of email content to identify impacted patient information. Gateway confirmed that the data could include health benefit enrollment data, health insurance details, medical history, patient account numbers and dates of service. A small set of SSNs and driver’s licenses were also exposed.

Gateway is currently working to improve its security measures by implementing a new endpoint detection and response system and providing employees with additional training.

Appointment of Steffen Kindler as CFO of Holcim

0

Holcim’s Board of Directors has appointed Steffen Kindler as Holcim’s Chief Financial Officer (CFO) and member of the Group Executive Committee, effective May 1, 2023. Kindler will succeed current Chief Financial Officer Géraldine Picaud, who decided to pursue other opportunities outside of the company. To ensure a smooth transition, Picaud will oversee the completion of Holcim’s 2022 annual results and conduct a thorough handover.

 

Steffen Kindler joins Holcim from Nestlé, where he held positions of increasing responsibility over the past 25 years, most recently serving as CFO for Nestlé Germany. His broad experience spans key business roles, including VP Finance and Control of Nestlé Beverages USA, based in Los Angeles; CFO of Nestlé Waters Europe, based in Paris; as well as responsibility for business development, based in the New York Metropolitan area. In addition, Kindler held roles of global responsibility for key corporate functions such as investor relations and mergers & acquisitions, based in Vevey. Building on his successful track record, Kindler is well-positioned to lead Holcim to its next level of financial performance.

 

Géraldine Picaud joined Holcim as CFO and member of the Executive Committee in 2018. She played an instrumental role in building Holcim’s strong financial position while supporting the company’s ongoing transformation. Under her leadership, the finance function capitalized on Holcim’s strong growth and record results to deliver a strong balance sheet and shareholder returns, while leading the integration of sustainability into Group finance.

 

Jan Jenisch, CEO: “I personally thank Géraldine for her commitment and contributions to Holcim over the past five years. The solid foundations you see today — especially Holcim’s strong balance sheet, solid credit ratings and integration of sustainable finance — are all testimony to her leadership. I wish her much continued success in her future endeavors.

 

“I am excited to welcome Steffen Kindler to the team. With his vast financial expertise and geographic experience, I am confident he will fit in well with Holcim’s performance-driven culture. Steffen is an ideal partner to contribute to our continued success as we become the global leader in innovative and sustainable building solutions, with a focus on superior value creation for all our stakeholders.”

 

STEFFEN KINDLER

 

Biography

 

Steffen Kindler, a 52-year old German citizen, is married and has three children. He holds a degree in Business Administration and Computer Science (Diplom Wirtschaftsinformatik) from the University of Mannheim.

 

Steffen joins Holcim from Nestlé, where he held positions of increasing responsibility over the past 25 years, including:

 

CFO, Nestlé Germany, 2018 to May 2023, Frankfurt, Germany

 

Head of Investor Relations, Nestlé, 2015 to 2017, Vevey, Switzerland

 

Senior Advisor, Corporate Mergers & Acquisitions, Nestlé, 2014, Vevey, Switzerland

 

VP Finance and Control, Nestlé Beverages USA, 2011 to 2013, Los Angeles, USA

 

CFO, Nestlé Waters Europe, 2007 to 2011, Paris, France

 

Senior Finance Manager, Nestlé Waters North America, 2005 to 2007, Greater New York Metropolitan area, USA

 

Customer Service Director, Nestlé Waters Germany, 2003 to 2005, Mainz, Germany

 

Head of Controlling, Nestlé Waters Germany, 2001 to 2003, Mainz, Germany

 

Internal Auditor, Nestlé Germany, 1998 to 2001, Frankfurt, Germany

 

Please find the photo for download here.

About Holcim

 

Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy Holcim is becoming a net zero company, with its people and communities at the heart of its success. The company is driving circular construction as a world leader in recycling to build more with less. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products.

 

Learn more about Holcim on www.holcim.com, and by following us on LinkedIn and Twitter.

Important disclaimer — forward-looking statements:

 

This document contains forward-looking statements. Such forward-looking statements do not constitute forecasts regarding results or any other performance indicator, but rather trends or targets, as the case may be, including with respect to plans, initiatives, events, products, solutions and services, their development and potential. Although Holcim believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions as at the time of publishing this document, investors are cautioned that these statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are difficult to predict and generally beyond the control of Holcim, including but not limited to the risks described in the Holcim’s annual report available on its website (www.holcim.com) and uncertainties related to the market conditions and the implementation of our plans. Accordingly, we caution you against relying on forward-looking statements. Holcim does not undertake to provide updates of these forward-looking statements.

 

This document contains inside information within the meaning of the Market Abuse Regulation (EU) (No 596/2014).

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20221117005621/en/

CONTACT: Media Relations: [email protected]

+41 (0) 58 858 87 10

Investor Relations: [email protected]

+41 (0) 58 858 87 87

SOURCE: Holcim Copyright Business Wire 2022

What happens after Christian Watson’s escape game?

0

Rookie wide receiver Christian Watson exploded for 3 huge touchdowns last week in the Packers’ win over the Dallas Cowboys, and he was named NFL Rookie of the Week as a result. Given the Tennessee Titans’ issues defending the ball deep, there’s at least a chance we’ll be back for a repeat performance. But let’s not be in too much of a rush.

Rookies, especially good ones, pop up every once in a while, but the issue tends to be much more about consistency, and a disappointing follow-up wouldn’t be unusual. Dreaming about Watson is fun, but we should probably temper our expectations, especially given the history of games AFTER the escape game. For instance:

James Lofton

Escape: September 10e1978, against New Orleans
Stat Line: 3 catches, 107 yards, 3 TDs

Lofton burst almost immediately, carrying 3 of David Whitehurst’s 10 completions for 107 yards and a touchdown as the Packers knocked out Archie Manning and the Saints in Week 2. Peyton and Eli’s dad completed 33 of 53 attempts but for only 303 yards and a score. For the Packers, Whitehurst was buoyed by a solid rushing offense from Terdell Middleton and Barty Smith, and he made his 10 completions count as 4 of them found dirt to pay off.

Lofton would come down to earth a bit the following week against the Raiders, catching 4 balls, but for just 56 yards and no score in a 28-3 loss. That said, he wouldn’t stick around long as he would put in strong performances against the Bears, Seahawks, Rams and Bears once again. Although he wasn’t a dominant force in every game, the breakout was real for the future Hall of Famer.

Sterling Sharpe

Escape: September 25e1988
Stat Line: 7 catches, 137 yards, 0 TDs

Prior to his Week 4 breakout against the Bears in a 24-6 loss, Sharpe had just one reception for 15 total yards. After the Bears game, he was still a target monster, averaging 4 catches and 60 yards per game, and finishing the season on an absolute tear.

The week after his breakout, a 27-24 loss to Tampa, he managed to catch 6 balls, but for just 70 yards as the Bucs mostly held him in check. Still, it should be noted that Sharpe was essentially a non-factor prior to his breakout and was most definitely a factor, if inconsistent, every week thereafter aside from a 0-catch performance against Buffalo during Week 9. Still, there was a major downgrade in the few weeks immediately after the big game, and it would take until Week 12 against the Lions for Sharpe to have another game resembling his breakout performance. One of the weirdest things about Sharpe’s rookie season is how little he found in the end zone, scoring just one touchdown against the Lions in Week 14.

Greg Jennings

Escape: September 24e2006
Stat Line: 3 catches, 101 yards, 1 TD

Some might quibble that Jennings actually broke out the previous week against New Orleans with a 12-target, 6-catch, 67-yard performance where he capped the Packers’ first drive with a 22-yard touchdown. That’s a good point, but the following week in a win over the Lions, Jennings scored a 75-yard electric touchdown on Green Bay’s second drive, which I think caught the attention of everybody.

Jennings’ escape was destined from the moment he was drafted, as the team nurtured the rookie like no other receiver. Jennings has only caught 45 balls this season, but on a ridiculous 105 attempts. He was not effective, to say the least, and he never caught more than 50% of his passes in a game where he had more than 10 targets. Against the Patriots and in Game 2 for the Vikings, he combined to catch just 2 of 21 targets. But when Jennings was on, he was an absolute weapon, and he followed up his breakout with a 5-catch, 86-yard effort in a loss to the Eagles, then a 5-catch, 105-yard, 1 TD game in a tight defeat against the Rams. Jennings is the rare example who managed to land several great performances in a row before collapsing a bit in the second half. If you’re bullish on Watson to repeat, Jennings is a great example of why it’s possible.

Jennings had his ups and downs, sure, and some of the downs were really ugly, but the breakout was real and almost immediate.

james jones

Escape: October 29e2007
Stat Line: 3 catches, 107 yards, 1 TD

Some might also quibble with this one, and with good reason. Jones was an extremely productive rookie in his very first game in which he had 8 targets, catching 4 for 29 yards, but that decisive game against Denver, in which Jones scored a 79-yard touchdown that would prove to be the difference in a 19 -13 win, truly heralded his arrival. This game was also memorable because it comes from a simpler time when Jay Cutler looked set to set the world on fire for the Broncos, but after Denver evened things up on a last-second field goal, Brett Favre hit Greg Jennings for an 82 yard. score on the first play of overtime. Jay, by the way, didn’t throw a pickaxe.

The following week, a 33-22 win over the Chiefs, Jones had just 3 catches for 32 yards, and while he put up some great performances against the Vikings and Lions in the aftermath, he didn’t never really approached this level of production. again as a rookie, even posting a few goose eggs against Oakland and Chicago.

Jones would have a prolific rookie season overall, and although he never managed to smash 1,000 yards for the Pack, he once led the league in touchdowns and always had a knack for finding the end zone. .

Davante Adams

Escape: November 30e2014

Stat Line: 6 catches, 121 yards

Adams himself had a good game earlier in the season against New Orleans, but I think everyone remembers that game as his real breakthrough. The Packers beat a very good team from the Patriots and Bill Belichick, thanks to a great game plan from McCarthy, Jordy Nelson toasting Darelle Revis just before halftime and a career-best performance from youngster Davante Adams. Adams had catches for 45 and 33 yards, as well as a big 17 yards in the 4e to set up a Mason Crosby field goal, as he led the team in yards and targets.

Unfortunately, Adams was unable to maintain that momentum as he would follow that performance with two consecutive 1-catch performances from 6 yards, as injuries limited his effectiveness in the streak. Fortunately, he reappeared, in a colossal way, against Dallas in the playoffs, capturing 7 balls for 117 yards and a touchdown, before disappearing during the NFC Championship game against Seattle, but we are not talking about that.

Adams was very up and down as a rookie, and really sophomore too, but he flashed frequently, including in a few really big moments.

Conclusion

Breakout performance is an outlier by its very nature, and having a lackluster tracking game is the norm. If Watson disappoints on Thursday, that shouldn’t be so surprising. More importantly, it doesn’t really matter for his long-term prospects. Davante Adams was horrible after his big breakout, but he not only turned the tide for the first playoff game, but became one of the greatest receivers in franchise history. Evasions, more than anything, show the players ceiling. They might not be able to put everything together every week, at least for a while, but you can see what a great performance can look like. After that, it’s just a matter of how often they can perform.

Only 20 players in Packer history have managed to even have an 80+ yard receiving game as a rookie. Most of them – like Davante Adams, Don Hutson, Boyd Dowler, Sterling Sharpe, James Lofton, Max McGee, Billy Howton and Greg Jennings – are great Packers in some degree. There are a few random one-timers like Geronimo Allison, Ray Pelfrey, running back LeShon Johnson, Jeff Query and Clive Rush who make the roster, but for the most part receivers who do what Watson did are no worse. than average, with a high probability of being slightly better. It might not happen right away.

‘Freedom Convoy’ Winter Blockades Cost Canadian Economy Billions, Investigation Finds

0

OTTAWA – Transport Canada estimates that up to $3.9 billion in business activity was interrupted due to border blockades across the country related to protests against COVID-19 restrictions last winter.

The Public Order Emergency Commission reviewed emails between staff of various federal ministers who heard from businesses frustrated by border blockades between February 8 and 9.

The commission is holding public hearings to investigate the events that led to the federal government’s decision to invoke the Emergencies Act for the first time since it replaced the War Measures Act in 1988 .

Prime Minister Justin Trudeau addressed the economic impact of the blockades and the damage to Canada’s economic and national security in the February 14 emergency declaration.

The emails show that in the run-up to the ruling, automakers have raised concerns about the closure of their manufacturing plants with Transport Minister Omar Alghabra’s office.

When Ontario Premier Doug Ford halted production at an Oakville plant during the Windsor border blockade, Alghabra’s chief of staff noted that the situation was viewed by U.S. parent companies as ” just another reason not to invest in Canada”.

This report from The Canadian Press was first published on November 16, 2022.

JOIN THE CONVERSATION

Conversations are opinions of our readers and are subject to the Code of conduct. The Star does not share these opinions.

UK inflation accelerates to 11.1%, its highest level in 41 years | app

0

LONDON (AP) — Britain’s inflation rate hit a 41-year high in October, fueling demands that the government do more to ease the country’s cost-of-living crisis when it releases new tax and spending plans on Thursday.

Consumer prices jumped 11.1% in the 12 months to October, from 10.1% in September, the Office for National Statistics said on Wednesday. The October figure beat economists’ expectations of 10.7%.

Rising food and energy prices drove Britain’s inflation rate to the highest since October 1981, the ONS said.

The figures come a day before Treasury chief Jeremy Hunt unveils a new budget amid growing calls for higher wages, increased benefits and more spending on health and education, as runaway inflation is eroding the purchasing power of people across the country.

The demands complicate Hunt’s efforts to close an estimated 50 billion pound ($59 billion) budget shortfall and restore the government’s financial credibility after the disastrous economic policies of former Prime Minister Liz Truss undermined public confidence. investors and caused turbulence in the financial markets.

“We can’t have long-term sustainable growth with high inflation,” Hunt said after the inflation figures were released. “Tomorrow I will present a plan to reduce debt, provide stability and reduce inflation while protecting the most vulnerable.”

Governments and central banks around the world are struggling to contain widespread inflation which began to accelerate as the global economy recovered from the coronavirus pandemic, then soared after Russia’s invasion of Ukraine has restricted the supply of natural gas, petroleum, grain and cooking oil. Although there is little policymakers can do to combat these external shocks, these price increases become entrenched as producers pass their costs onto consumers and workers demand higher wages, which is a longer-term threat to economic growth.

Earlier this month, the Bank of England forecast UK inflation to peak at around 11% in the fourth quarter and start to decline early next year. The bank has approved eight consecutive interest rate hikes, pushing its benchmark rate to 3%, as policymakers try to bring inflation back in line with their 2% target.

Hunt said the government had a duty to help the Bank of England control inflation and act responsibly with the country’s finances. The comment was a stark contrast to the message from Truss, who said it was the government’s responsibility to spur growth, setting up an economic showdown between a government with its foot on the accelerator pedal economy and a central bank trying to cool the economy with higher interest rates.

In the United States, inflation slowed to 7.7% in October from 8.2% in September.

But UK inflation has yet to peak.

Food prices rose 16.4% in the 12 months to October – the biggest jump since September 1977 – as supermarkets passed on rising costs to consumers, the ONS said. The cost of electricity and natural gas jumped 24%, even after the government capped energy prices to protect consumers from the impact of the energy crisis.

Shona Lowe, financial planning expert at fund manager abrdn, said inflation was understandably a top concern for most households.

“Unfortunately, the UK is not yet following in the footsteps of the US in terms of slowing inflation,” she said. “In fact, the Bank of England announced last week that it does not expect inflation to come down until the middle of next year, so consumers should be prepared for further pressure on their finances.”

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Out-of-pocket costs for contemporary advanced prostate cancer care in commercially insured patients

0

Financial toxicity, including the burden of out-of-pocket expenses, can negatively affect patients’ decision to seek care. Here, researchers examined what influences a patient’s ability to pay for advanced treatments for advanced prostate cancer. Men with advanced prostate cancer who were treated by commercial insurers between 2007 and 2019 were located using the OptumLabs Data Warehouse®. Treatment options for these patients included androgen deprivation monotherapy, new hormone therapy, and systemic non-androgen therapy. The patient’s financial responsibility for medical care during the first year of treatment was the primary measure. Multivariate regression models were used to analyze associations between therapy and patient-related factors and out-of-pocket expenses. With the help of the Consumer Price Index CPI, all prices were updated to 2019 US dollars. The majority of the 13,409 men in the study group were treated with monotherapy of androgen deprivation (n=10,926), while only 6% (n=832) received new hormone therapy and 12% (n=1,651) received non-androgen systemic therapy. . Patients who chose androgen deprivation monotherapy spent an average of $165 in medical costs in the first year, while those who opted for new hormone therapy spent $4,236 and those who opted for systemic therapy not androgenic spent $994. Systemic non-androgen therapy and new hormone therapy both had adjusted annual out-of-pocket costs of $752 (95% CI: $600 to $903) and $2,581 (95% CI: $1,923 to 3, respectively). $240) higher than androgen deprivation monotherapy. Older age (65 to 74), black race, lower comorbidity scores, and lower family income were also correlated patient variables (P

Source: auajournals.org/doi/full/10.1097/JU.0000000000002856

‘The amount of torture I’m doing to myself is next level’: Elon Musk reveals what it’s like to be him

0

Elon Musk thinks he is inflicting “torture” on himself. At the Business 20 (B20) dialogue in Bali, Indonesia, he spoke about what it’s really like to be Elon Musk. The world’s richest man was supposed to join the B20 platform in person, but he couldn’t due to an ongoing lawsuit that was due to start this week. Musk answered questions about all of his major companies, including new addition, Twitter.

During the interview, Musk was asked what young people should do to become the “Musk of the East.” His immediate reaction was “Be careful what you wish for”. He explained that these young people only want to become what they imagine me to be. He went on to say, “The amount I torture myself is next level.”

Continuing by answering the question, he asserted that anyone who does something useful can be successful like him. He believes people who can “build products and services that are useful to human beings are doing a good thing.” He then went on to say, “Maximize your usefulness and value to humanity.”

Elon Musk’s busy work schedule

Elon Musk is famous for his busy work schedule. Some reports claim that he even works over 100 hours a week. During the interaction, Musk went on to say that he had “too much work on his plate.”

Asked about the Bali vacation, Musk said: “My workload has increased a lot. I have too much work on my plate.

Upcoming Changes to Twitter

Elon Musk also talked about the latest company under his belt, Twitter. He asserted that Twitter is media as opposed to media. Speaking about the headlines he’s generated since the takeover, Musk said, “There’s no way to make everybody happy, that’s for sure.”

Talking about his plans for content creators on Twitter. The billionaire again insisted that Twitter needs to work a lot more on the video aspect. He claimed the platform would allow longer videos for content creators who plan to make a living creating content for Twitter.

Musk has taken a tough stance on Twitter’s former leadership. He then laid off more than half of the company’s workforce, top executives and, most recently, more than 4,400 contract employees. Twitter is working to change the entire verification system on the app, bring more paid features (Twitter Blue) and eliminate bots and scammers on the platform. So far, they haven’t been able to build a working system for Twitter Blue with the features that Elon Musk promised.

Watch the whole segment here:

Air Arabia posts record third-quarter profit – up 99% year-on-year

0

LONDON – Middle Eastern low-cost airline, Air Arabia, announced record financial results for the third quarter ended September 30, 2022, as the airline continues to show strong operational and financial performance.

Air Arabia reported net profit of AED416 million for the three months ending September 30, 2022; an increase of 99% compared to the AED 209 million recorded in the corresponding third quarter of 2021.

During the same period, the airline recorded revenue of AED 1.6 billion, an increase of 100% compared to the same quarter last year.

More than 3.9 million passengers flew with Air Arabia Group between July and September 2022 across the carrier’s six hubs in the United Arab Emirates, Morocco, Egypt and Armenia, a 103% increase over the number of passengers transported in the same quarter last year.

The average seat load factor – or passengers carried as a percentage of available seats – during the third quarter of 2022 stood at an impressive average of 80%.

Statement from Air Arabia


Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, said, “Air Arabia’s strong performance in the third quarter of this year reflects the company’s strong operational and commercial strategy, as well as its underlying commitment to consistently delivering real value to customers.

“We are pleased to witness another record performance supported by strong passenger demand and the rigid cost control measures adopted by the management team.”

He continued, “Air Arabia has maintained its robust growth in the first nine months of this year by launching its joint venture airline operations in Armenia as well as adding new routes and flights to Air Arabia’s global network. carrier.

“Air Arabia remains focused on diversifying and expanding its business, while investing in product innovation and adopting new measures to control costs.”

90 million passengers in 9 months


During the first nine months ending September 30, 2022; Air Arabia recorded a net profit of AED 867 million; an increase of 242 percent compared to the same period last year. The company recorded revenue of AED3.8 billion for the first nine months of 2022, an increase of 106% compared to the corresponding period last year.

More than 9 million passengers traveled with the carrier through its six hubs in the first nine months of 2022, an increase of 118% compared to the same period last year.

The average seat load factor – or passengers carried as a percentage of available seats – for the same period amounted to a high average of 79%.

Al Thani concluded, “While we continue to witness a strong recovery in air travel, the aviation industry also continues to face many geopolitical challenges and economic uncertainty.”

“Despite these challenges, we have full confidence in the business model we operate, as we remain focused on improving operational efficiency at all levels and delivering optimal value to our customers.”

Fleet and network expansion


In the first nine months of the year, Air Arabia added 10 new aircraft to its fleet and expanded its destination network by launching 14 new routes at its hubs in the United Arab Emirates, Morocco, Egypt and Armenia.

In June, “Fly Arna” celebrated the launch of its operations and today operates a fleet of 2 Airbus A320s serving 5 destinations from Yerevan.

In September, Air Arabia announced its latest joint venture to launch “Air Arabia Sudan”, in partnership with DAL Group.

In October, “Fly Jinnah”, the carrier’s joint venture in Pakistan, received its air operator certificate and air operator license and in November it began domestic operations to five destinations in Pakistan.

In July, Air Arabia Abu Dhabi successfully celebrated its second year of operation with more than one million passengers since beginning operations from Abu Dhabi International Airport.

During the same period, Air Arabia was also awarded a “Four-Star Low-Cost Carrier 2022” rating by APEX – The Airline Passenger Experience Association.

Opinion: No one is coming to save the crypto industry

0

Editor’s note: Emily Parker is Executive Director of Global Content at CoinDesk, a media, events, index and data company, and former policy adviser to the US State Department and editor/writer at The Wall Street Journal. She is the author of “Now I Know Who My Comrades Are: Voices from the Underground Internet”. The opinions expressed in this commentary are his own. Read more opinion on CNN.



CNN

Over the past year, as crypto companies imploded and losses mounted, a white knight emerged. Sam Bankman-Fried, the 30-year-old CEO of crypto exchange FTX, has helped bail out struggling crypto companies like BlockFi and Voyager. In an industry whose reputation has been tainted by scammers, hackers, and sheer greed, Bankman-Fried seemed like a relatively nice guy. He even claimed that he wanted to give away almost all of his money.

And then, like that, it was over. The former billionaire lost 94% of his fortune in a single day. On Friday, FTX filed for bankruptcy and Bankman-Fried resigned as CEO. The contagion has already started. Crypto lender BlockFi, one of the companies Bankman-Fried tried to save, has now suspended customer withdrawals. So who is going to save crypto now?

The answer is nobody, because crypto shouldn’t need a savior. The whole point of crypto is that it’s supposed to be decentralized and transparent. The rise and fall of Bankman-Fried shows how far the industry has come from this ideal. Today’s crypto world is one of the opaque entities run by larger than life personalities. There is perhaps no better example than FTX and its leader.

It wasn’t supposed to be like this. Bitcoin, the world’s first major cryptocurrency, emerged in the wake of the 2008 financial crisis, which caused deep disappointment among bankers and politicians. In light of the distrust of financial institutions, the basic idea was that this new system didn’t require you to trust anyone at all. Bitcoin transactions are recorded on a decentralized ledger known as the blockchain, which anyone can see and no bad actor should be able to fraudulently alter.

But Bankman-Fried’s empire, it turned out, was far from transparent. Everything seemed to be going well until my colleague Ian Allison, a reporter at CoinDesk, wrote an article last week revealing that Alameda’s balance sheet of Bankman-Fried, which is FTX’s sister company, was largely made up of FTT, a token created by FTX. . This raised questions about the stability of FTX’s sister company and drew attention to the surprisingly close ties between FTX and Alameda.

It’s worth pointing out that Alameda’s financial weaknesses were revealed by a journalist, rather than a publicly available blockchain.

Shortly after, another larger-than-life crypto personality entered the chat. Changpeng Zhao, CEO of the world’s largest crypto exchange, Binance, has publicly announced that the exchange will liquidate its FTX holdings. Binance then signed a letter of intent to acquire FTX, a plan which Binance abandoned soon after.

Then more disturbing information came to light. The Wall Street Journal reported that FTX loaned more than half of its clients’ money to Bankman-Fried’s other company, Alameda. In other words, he used one company’s customer deposits to pay for another’s risky bets.

Bankman-Fried said he takes full responsibility for his mistakes. In a long Twitter thread this week, he wrote“I was CEO, which means *I was* in charge of making sure things ran smoothly. *I*, in the end, should have been on top of everything. I clearly failed in that. I’m sorry.”

This very statement is a perfect illustration of how a decentralized technology like cryptocurrency is not meant to work. The idea of ​​a decentralized ledger is to remove a single point of failure and reduce the risk of human error. And yet, FTX would be far from the first player in the crypto space, led by an extraordinary personality, to suddenly deflate. Other examples include Alex Mashinsky, the founder and CEO of crypto lending platform Celsius, and Do Kwon, who co-founded the company that created TerraUSD, a so-called algorithmic stablecoin that was to trade at $1. . Both of these projects imploded last year, resulting in billions of dollars in losses. Both figures had many followers, many of whom learned the hard way that these supposedly powerful rulers had no power to return their money.

The personality cult problem is not limited to crypto. We also see it in social media, another supposedly leaderless and decentralized technology. Twitter is now subject to the whims of owner Elon Musk, the richest man in the world.

In the case of crypto, many have long pointed out the risk of powerful centralized exchanges like FTX, with some people preferring to hold their own coins instead of storing them on an exchange. Another option is to use blockchain technology to provide greater visibility, which Bankman-Fried now promises to do. In his lengthy Twitter feed on Thursday, he said its priority would be “radical transparency” or “giving transparency as close to the channel as possible: so that people know *exactly* what is going on there. In FTX’s case, of course, it’s probably too late.

For the crypto industry, the lesson here is to stop looking for saviors. Bankman-Fried’s meteoric rise wasn’t just based on his own doing – he was driven by many others. He’s raised millions of dollars from top-tier investors, garnered media attention and, with few exceptions, just hasn’t been questioned much. The bottom line is that so much hope and responsibility should not rest on one individual. It goes against everything crypto is supposed to stand for.

JAKKS Pacific: solid results in Q3; Christmas a Growth Catalyst (NASDAQ:JAKK)

0

AZemdega/E+ via Getty Images

For the past year, I have followed JAKKS Pacific, Inc. (NASDAQ: JAKK), the fascinating growth journey of a small-cap toy company in an industry led by giants like Hasbro (HAS) and Mattel (MAT). Everyone loves a good underdog story, and this year is proving ever more compelling for this underrated and seemingly still underrated title. Through licensing agreements with much larger companies, JAKK is showing that dynamite can come in small packages. The company has produced consistently strong performance in both revenue and net income over the past four quarters and has rewarded its shareholders with returns of 86.71% year-to-date.

chart

Year-to-date stock trend (SeekingAlpha.com)

Year-to-date stock trend and quantitative assessment from SeekingAlpha (SeekingAlpha.com)

As we begin the holiday season and JAKK continues its strategic licensing deals with Disney, Nintendo and Sega, demand is secure through Q1 2023 in the form of sought-after action figures and costumes for kids and adults looking to celebrate the Christmas season and expand their blockbuster movies and streaming experiences with characters from Sonic, Super Mario and Encanto. Although investors should be wary of high levels of leverage, rising supply chain costs and the impact of general market uncertainty on consumer buying behavior, JAKK appears to be in going to achieve a record year. With the stock price dropping 8% in the past month, it could be an exciting time for investors to take a bullish position in this stock.

Growth engines

JAKK has had back-to-back success with its strategic partnerships to produce toylines and costumes for massive hits, including Encanto and Sonic the Hedgehog last year. In the first quarter of 2023, Super Mario the Movie, another blockbuster that has already created a huge buzz on the Internet, will be released, and we can expect a similar success to what JAKK already delivered last year. Although JAKK is one of many companies creating products for these toy lines, it has a solid reputation and a presence in all the right places.

image

Super Mario Toyline created by JAKK (Nintendolife.com)

JAKK works with many offline and online retailers. However, Target (TGT) and Walmart (WMT) are among its biggest customers. Many of the costumes available from TGT and WMT are produced by Disguise, JAKK’s costume company. One of the critical growth factors has been its point of distribution. JAKK has increased shelf space and door visibility at many local and international retailers. There is also a wider range of products available and due to the full range, JAKK products are more visible in all stores. Merchants are also developing their online presence, making it easier for consumers to access offers.

Another growth factor has been the speed with which JAKK has responded to increased demand. Data and feed algorithms have been key in predicting recurring popular products. The company has also focused on its international growth, and we can already see some impressive numbers if you look at the increase over the past year.

chart

International Growth (Investor Presentation 2022)

Costumes are a small but growing part of the business that is sure to see an additional impact on business performance. This year, JAKK has already shipped 25% more customers than in 2021.

chart

Costume Net Sales (2022 Investor Presentation)

Third quarter 2022 financials and valuation

2022 has been an incredible year for JAKK, and the third quarter further confirms the performance. Year-to-date, JAKK has already topped 2021 net sales by 6.9% at $621.1 million. It saw its net sales for the third quarter increase 36% year-on-year to $323 million. Again, we can see the growing importance of the company’s suits business to its performance, generating 16.5% of total sales at $53.4 million. We saw a decline in gross margin, to 28.5%, although operating profit increased by 16.7% of net sales to $53.7 million.

The decline in margin is mainly due to transportation costs related to the supply chain. EBITDA increased 42.4% year over year to $59.4 million. JAKK has positive free cash flow this quarter. Total cash and cash equivalents were $76.6 million, nearly three times higher than the previous year. This upward trend is a positive sign that the company has the money to resume operations and reduce outstanding debts.

Chart

Cash Overview (YahooFinance.com)

Debt has been something to be wary of when looking at the history of JAKKS and the outstanding debt to be paid. The company made an optional payment of $17.5 million for long-term loans in the third quarter. Year-to-date principal repayments total 29% of the balance at $29.0 million, or 29% of the remaining $69.5 million.

chart

Total Debt Trend (Investor Presentation 2022)

In my previous article, I compared JAKK to larger players in the market, and these comparisons clearly show that JAKK has plenty of room for growth and could be an attractive takeover target by any of the toy and entertainment companies. of several billion dollars. The company is valued well below its price target of $26.33 and its valuation ratios are well below those of the best companies in the industry. If we look at Seeking Alpha’s quantitative ratings over the past six months, we can see valuation, growth and profitability on an upward trend, and we have yet to reach the historically best performing quarter of the society.

table

Quantitative evaluation over 6 months (SeekingAlpha.com)

Risks

Although JAKK is a micro-cap stock, it is not new to the market and has seen many ups and downs over the years in the ever-changing and competitive landscape of the toy industry. An investor who invested in the stock ten years ago would have seen the stock price drop by 84.66%. However, over the next six months, the company is on track to continue delivering strong numbers.

Second, we have seen that the gross profit margin has decreased. This can have a big impact on an industry where customers are price sensitive and there are plenty of big company alternatives in the market. These larger companies have more pricing flexibility due to economies of scale. However, JAKK seems to use data analytics to create highly sought-after products in a timely manner to compete in the market.

Finally, there is a lot of uncertainty in the market and toys should be considered essential goods. However, historically the toy industry has weathered economic downturns and JAKK’s prices are considered affordable, with over 50% of its products selling for less than $25.

Final Thoughts

JAKK is on course for a record year. If we compare it to its earnings, it has a strong cash flow and an exciting toy and costume pipeline driven by home streaming shows and blockbuster movies. With Christmas fast approaching and four quarters of solid performance behind them, there is much to celebrate for this small company taking on giants. Investors may want to take a bullish stance on this company at a price well below its major competitors.

Companies “lack of a fight”; UK recession fears rise as GDP contracts

0

UK businesses are bracing for a tough winter amid soaring inflation and higher energy bills.

Andrew Matthews – Pa Pictures | Pa pictures | Getty Images

LONDON – The doors of The 25, a boutique bed and breakfast based in Torquay on the UK’s south west coast, are now closed for the winter period. But this season they will remain closed longer than usual.

With rising energy bills and rising costs weighing on UK businesses, owner Andy Banner-Price has postponed the reopening by a month until spring.

And while forward bookings from repeat customers remain strong, new inquiries are down 50% and bookings down 15% from previous years, giving an uncertain outlook for the year ahead.

“I suspect a lot of people have a wait-and-see approach because there’s so much uncertainty in the economy right now,” Banner-Price told CNBC.

The latest economic data from the UK brought some clarity to the situation on Friday – albeit on the downside.

Many (businesses) aim to ride out the Christmas rush and then close in January.

Tina McKenzie

Chair of Policy and Advocacy, Federation of Small Businesses

UK Gross Domestic Product (GDP) decline of 0.2% quarter on quarter in the three months to September, official figures showed, down one 0.2% growth rate in the second quarter of 2022. A second consecutive quarter of negative growth going forward would indicate that the UK has entered a technical recession.

The negative data adds to the country’s gloomy economic outlook and already depressed consumer confidence.

“It’s a cumulative effect of bad news every time you turn on the television or open a newspaper,” he said.

“I think we sometimes talk to each other about a recession,” he continued. “Negative growth will only make some people even more worried about their jobs and wary about spending money.”

The longest recession on record in the UK

The Bank of England warned last week that the UK is now heading into its longest recession since records began a century ago.

The central bank expects GDP (gross domestic product) to continue to decline through 2023 and the first half of 2024. The projected two-year slowdown is expected to be “very difficult”, the bank said, costing around 500 000 jobs and piling the strain on already pinched businesses and households.

A woman walks past dilapidated and shuttered shops in Romford, England.

John Keble | Getty Images News | Getty Images

Tina McKenzie, chair of policy and advocacy at the Federation of Small Businesses, said many UK small and medium-sized businesses are now “attacked from a variety of sides”, citing reduced access to money and labour. work, as well as inflationary pressures.

UK consumer inflation hits 40-year high 10.1% in Septemberwhile producer input prices remained stubbornly raised to 20%. The BOE warned that interest rates, currently set at 3%will likely have to rise more than expected to bring inflation back towards its 2% target.

Still, the worst effects of a coming downturn may not show up until the first or second quarter of 2023, McKenzie said. Meanwhile, many businesses, especially those in the hospitality and retail sectors, are just biding their time.

“Businesses are under tremendous pressure. Many are aiming to push through the Christmas rush and then close doors in January,” McKenzie told CNBC via zoom call.

“Austere and frightening”

More than a third (35%) of the UK hospitality sector says it is at risk of closing early next year due to rising costs, soaring energy bills and falling spending on consumption, according to a survey of operators released last week.

“It’s stark and scary,” said David Holliday, co-founder of Norfolk, England-based brewer Moon Gazer Ale, which supplies craft ales and lagers to pubs across the country.

The Bank of England has warned that the UK is facing its longest recession since records began a century ago.

Huw Fairclough | Getty Images News | Getty Images

So far, Holliday said his company is “taking the hit” and absorbing increased production and energy costs to protect customers. But if by spring these price increases look set to continue, it will have to pass on these costs.

“We’ve shared the pain with our clients, but it won’t be lasting in six to 12 months,” Holliday said. This year alone, he estimates Moon Gazer Ale’s energy bills have risen by £25,000-30,000 ($29,000-$35,000) as costs in Europe have risen following the invasion of Ukraine by Russia.

A percentage of the industry will say, to me, there is no sequel.

David Holiday

co-founder, Moon Gazer Ale

For many, however, another cost spike could spell the end of an “uphill three-year struggle” for an industry already crippled by Covid-19 restrictions, staff shortages and inflationary pressures.

“They’re kind of short of a fight,” Holliday said. “A percentage of the industry will say, to me, there’s no sequel.”

Spending cuts, tax hikes on the horizon

Business owners will now look to the UK’s long-awaited November 17 autumn statement, in which Finance Minister Jeremy Hunt is expected to outline £60bn ($69bn) in job cuts. spending and tax hikes to fill the hole in the beaten country. Public finances.

But many fear that the Treasury is going too far in its attempts to restore the UK’s economic situation – damaged by Liz Truss’s chaotic mini-budget – that it will create new problems for struggling industries and hamper the economic growth in the future.

“Because of Liz Truss and Kwasi Kwarteng, they’ve gone to the other extreme and they’re in such a cautious mode,” McKenzie said.

Early drafts of the government’s plan contain up to £35billion in spending cuts and around £25billion in tax increases, according to the Guardian. As the BOE’s chief economist, Huw Pill warned monday that massive tax hikes and spending cuts could expose Britain to a bigger-than-expected ‘economic downturn’.

The UK Treasury said it would not comment on “speculation around tax changes” when contacted by CNBC.

“We’re worried they’ll get so extreme to please investors. And if they don’t do anything to protect the most vulnerable, they won’t get the growth,” McKenzie said, citing improved migration policies and a TVA. reduction in rates as potential areas where the government could offer support.

And while some business owners like Banner-Price are confident they will make it through as consumers return to fewer but more quality experiences and products, its fortunes and those of many others will hinge on the ability of the wider business community to weather the storm.

“Even though we are surviving well, our customers still need to visit thriving local restaurants, cafes, tourist attractions, etc. They still need to be able to shop and visit the theater, take a taxi, and use all the other small businesses,” said Banner- Price said.

Central banks should consider climate shocks and biodiversity when stress testing financial institutions | Cadwalader, Wickersham & Taft LLP

Sylvie Goulard, deputy governor of the Banque de France, the French central bank, said in a speech Oct. 24 that central banks need to take more aggressive action on nature-related risks. She postulated that “monetary valuations of ecosystem services have many limitations”, partly because of their complexity and also because “shocks” in one sector can have significant impacts on other sectors. As a result, she proposed that “the best risk mitigation strategy is to do everything in our power, early enough, to ensure we stay within planetary boundaries.” She proposed that central banks integrate climate and biodiversity impacts into their decision-making as an aspect of their “non-monetary portfolios”; integrating nature-related concerns into central bank monetary operations, as the European Central Bank has begun to do for climate change, and implementing nature-related stress-testing exercises that address both climate and biodiversity shocks for banks and financial institutions to improve global financial stability.

Goulard concluded his speech by saying, “The task ahead of us looks like an uphill battle: university economics departments, policymakers, central bankers and supervisors are staying well behind the curve when it comes to recognizing that our socio-economic systems must undergo a radical transformation. We know that those who dare to challenge the status quo face serious setbacks or even reputational risks to their careers. They can be considered “activists” or “dreamers”. However, we have no choice but to restore nature as much as possible, as quickly as possible and finance can play a role in this task. The magnitude of the change required makes it challenging but also promising. No generation on earth in the past 12,000 years has had such a responsibility to keep the world alive.

Taking the temperature: Just as the CEO of BlackRock said that “climate risk is an investment risk”, Goulard seems to be saying that nature risk is a financial stability risk. Additionally, she believes that governments and businesses will struggle to understand the full range of impacts resulting from climate-related biodiversity change. This, in turn, threatens the stability of global financial systems and the businesses that operate within those systems. Financial regulators around the world, including in the United States, have weighed in on climate-related issues facing financial institutions, but less specifically regarding biodiversity. For example, the Federal Reserve Board recently announced that six of the largest U.S. banks “will participate in a pilot climate scenario analysis exercise designed to build the capacity of supervisors and companies to measure and manage climate-related financial risks. (and that there would be no “capital or oversight implications of the pilot project”). We expect regulators to increasingly focus on nature-related climate change impacts as another aspect of risk to financial stability resulting from global warming.

(This article originally appeared in “Cadwalader Climate”, a new bi-weekly ESG market newsletter.)

Global IT Market Report to 2027

0

Dublin, Nov. 09, 2022 (GLOBE NEWSWIRE) — The report “Global Computing Computing Market by Application, End User, Company and Region: Competition Forecast and Opportunities to 2027” has been added to from ResearchAndMarkets.com offer.

The global computer computing market is expected to witness impressive growth during the forecast period. Major factors such as growing awareness of personalized medicine combined with unsustainable chronic disease liability propel the growth of the global IT market.

Additionally, due to people’s awareness of personalized drugs, a sudden increase in the use of layered drugs has had a positive influence on the cheminformatics market.

Additionally, the other factors that are driving the growth of the market are increasing investments in research and development to validate potential drug candidates and efficiently exploit the data generated during molecular and atomic reactions. Advances in the process of new drug discovery are a contributing factor to the growth of the market as they help design targeted drugs that help advance public health and care.

Raising Awareness About Personalized Medicines

Rising awareness of personalized medicines and surge in chronic diseases is driving the growth of the Cheminformatics market globally. Nowadays, people are aware of these precision medicines through various initiatives such as the European Cancer Patient Coalition (ECPC) launched a campaign in 2018 to raise awareness about personalized medicines and their function. Therefore, owing to the rising awareness among the people, the demand for personalized medicine is expected to have a positive impact on the Cheminformatics market.

Design and developments

Cheminformatics is mainly concerned with the discovery of new drugs that help in treating various diseases without any side effects, propelling the growth of the global cheminformatics market. When these drugs are synthesized, a large amount of data is produced, which results in the design of a new drug molecule. In addition, major market players are combining innovative information storage and retrieval technologies in cheminformatics.

Also, advancements in the drug development process have boosted the growth of the market as various modern drug development techniques are used in place of the traditional method of drug discovery. For example, in silico techniques are used instead of traditional animal experimentation models because this technique makes it possible to predict toxicity and assess the risk associated with it. Hence, these technological advancements and developments will enhance the growth of the global cheminformatics market in the coming years.

Increase Investments to Drive Cheminformatics Market

Various investments in research and development (R&D) projects are being made, which also fuels the demand for chemoinformatics to validate potential drug candidates and efficiently exploit the data generated during molecular reactions. For example, in 2020, research and development spending by pharmaceutical companies in the United States was $91.1 billion.

Market segmentation

The global IT computing market is segmented into application, end user, company, and region. Based on application, the market is divided into chemical analysis, drug discovery and validation, virtual screening, and others. Based on end-user, the market is divided into chemical and pharmaceutical companies, academic and research institutions, etc.

In terms of countries, the United States is expected to be a lucrative market over the forecast period as the government invests in R&D initiatives and technology expansions in the country.

Market players

Agilent Technologies Inc., Bio-Rad Laboratories Inc., PerkinElmer NC., Accelrys Software Inc., Chemical Computing Group, Inc., Certara, LP, Advanced Chemistry Development, Inc. (ACD/Labs), BioSolveIT GmbH, BIOVIA (Dassault Systems), ChemAxon Inc., Eurofins CEREP SA (Eurofins Panlabs Inc.), Jubilant Biosys Inc., Molecular Discovery Ltd., OpenEye Scientific Software Inc., Schrodinger Inc. are the major players operating in the chemoinformatics market.

Main topics covered:

1. Product introduction

2. Research methodology

3. Executive Summary

4. Impact of COVID-19 on the Global Chemoinformatics Market

5. Voice of the customer

6. Global Chemoinformatics Market Outlook
6.1. Market size and forecast
6.1.1. By value
6.2. Market share and forecasts
6.2.1. By Application (Chemical Analysis, Drug Discovery & Validation, Virtual Screening, Others)
6.2.2. By end user (chemical and pharmaceutical companies, academic and research institutions, others)
6.2.3. By company (2021)
6.2.4. By region
6.3. Commodity Market Map

7. North America IT Market Outlook

8. Europe IT Market Outlook

9. Asia-Pacific IT Market Outlook

10. South America IT Market Outlook

11. Middle East & Africa IT Market Outlook

12. Market dynamics
12.1. Drivers
12.2. Challenges

13. Market trends and developments

14. Competitive Landscape
14.1. Agilent Technologies Inc.
14.2. Bio-Rad Laboratories Inc.
14.3. PerkinElmer, Inc.
14.4. Accelrys Software Inc.
14.5. Chemical Computing Group, Inc.
14.6. Certara, LP
14.7. Advanced Chemistry Development, Inc. (ACD/Laboratories)
14.8. BioSolveIT GmbH
14.9. BIOVIA (Dassault Systems)
14.10. ChemAxon Inc.
14.11. Eurofins CEREP SA (Eurofins Panlabs Inc.)
14.12. Jubilant Biosys Inc.
14.13. Molecular Discovery Ltd.
14.14. OpenEye Scientific Software Inc.
14.15. Schrodinger Inc.

15. Strategic Recommendations

For more information about this report, visit https://www.researchandmarkets.com/r/yzfm67


        

PIC AU HOLDINGS LLC AND PIC AU HOLDINGS CORPORATION, WHOLLY OWNED SUBSIDIARIES OF PEABODY, ANNOUNCE AN INCREASE IN THEIR PREVIOUSLY ANNOUNCED OFFER TO PURCHASE THEIR 10,000% SECURED TERM LOAN DUE IN 2024 UNTIL ALL TERM DEBT IN PROGRESS

0

ST. LOUIS, November 8, 2022 /PRNewswire/ — Wholly owned subsidiary of Peabody (NYSE: BTU), PIC AU Holdings LLC, a Delaware limited liability company (the “Main transmitter“), and PIC AU Holdings Corporation, a Delaware company (with the main issuer, the “Co-Issuers“), today announced that they have increased the aggregate principal amount (the “Term Loan Offering Amount”) of their previously announced offering (the “Term Loan Offering”) for the purchase of their 10.000% senior secured term loan due 2024 (the “Term Loan Offer Amount”) at a weighted average purchase price of 105.91% of par, pursuant to the credit agreement dated January 29, 2021among the Co-Issuers, as Co-Borrowers, Lenders who are parties thereto from time to time and Wilmington Trust, National Association (as successor to JPMorgan Chase Bank, NA), as Administrative Agent, which governs the term loan (the “Accord Credit”) up to any and all of the $114,613,206.92 total term loan principal amount outstanding against the previously announced term loan offer amount.

On September 19, 2022the Co-Issuers (i) bought back approximately $20.4 million aggregate principal amount of the term loan at a weighted average purchase price of 105.91% of par, pursuant to the credit agreement, and (ii) announced the cash offer to purchase (the “note offer “) $81,500,000 the unpaid principal amount of their 10.000% Senior Secured Notes due 2024 (the “Notes”), at a purchase price equal to 105.91% of the principal amount of the Notes repurchased under the offer of Notes, plus accrued and unpaid interest, if any, up to but excluding the settlement date of the Bond Offer. On October 27, 2022the note offering and the separate term loan offering have been extended to remain open until 5:00 p.m., New York City It’s time November 18, 2022 (the “Expiration Period”). The Note Offer is not conditional upon the separate Term Loan Offer.

Submitted Notes may be validly withdrawn at any time prior to the Expiry Time, unless terminated earlier by the Co-Issuers. From 5:00 p.m., New York City It’s time November 8, 2022, $64,119,000.00 the full principal amount of the Notes had been validly tendered and not validly withdrawn. The Bonds Offer is made on the terms and subject to the conditions set forth in the Co-Issuer’s Tender Offer, dated September 19, 2022 (as amended, the “Bid“). The terms of the Securities Offer as described in the Tender Offer remain unchanged.

This announcement is not an offer to buy or sell, or a solicitation of an offer to buy or sell, securities in any jurisdiction in which the manufacture or acceptance thereof would not be compliant with securities, blue sky or other laws of those jurisdictions.

Peabody (NYSE:BTU) is a leading coal producer, providing affordable and reliable energy and steelmaking essentials. Our commitment to sustainability underpins everything we do and shapes our strategy for the future.

Contact:
Alice Tharenos
314.342.7890

Forward-looking statements

This press release contains forward-looking statements within the meaning of securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variations of words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “projects”. , “plans”, “target”, “would”, “will”, “should”, “aim”, “could” or “may” or other similar expressions. Forward-looking statements provide management’s current expectations or forecasts regarding future conditions, events or results. All forward-looking statements speak only as of the date they are made and reflect our good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Further, we disclaim any obligation to publicly update or revise any forward-looking statements, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that could cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond our control, including the ongoing impact of the COVID-19 pandemic. You should understand that it is not possible to predict or identify all of these factors and, therefore, you should not consider any such list to be a complete set of all potential risks or uncertainties.

SOURCEPeabody

Adopt a responsible dog as the holidays approach

COLORADO SPRINGS, Colo. (KRDO) — Many dogs are adopted during the holidays. An event held on Sunday at Under the Sun Dog Training and Daycare called “Meet the Breeds” helped people looking for a puppy find out which breed is best for them and their lifestyle.

Each breed has a specific purpose in why they were bred, including mixed breeds. It is important to be educated about this before adopting.

“You need to know what the characteristics of these breeds are,” said Colton Johnson, owner of Under the Sun Dog Training and Daycare. “Even if you have a mixed breed. If you have a husky mix, you should research both breeds because you’re going to find characteristics in both breeds that you need to know about.”

Some factors to consider are energy level, mental stimulation, and sociability.

“Also exercise and what you have available for this dog,” Jill Chase told the Colorado Springs Kennel Club. “There are aloof dogs who won’t mind being home all day. But there are dogs who need you and want to be with you all day.”

If you don’t do some research beforehand, it could end in the worst case for the dog.

“The worst thing that can happen to a dog is that the dog keeps getting rehomed over and over again,” Johnson said.

As the holidays approach, the Humane Society of the Pikes Peak Region advises against giving dogs as gifts unless the recipient is already prepared and on board.

“Owning a pet is a 10 to 15 year commitment,” said Cody Costra of the Humane Society of the Pikes Peak Region. “So if you’re going to be giving a pet as a gift, it’s important that person agrees with that responsibility.”

Having a dog is also a big financial commitment.

According to the ASPCA, owning a dog costs around $500 to $1,000 a year at a minimum. This price includes food, veterinary care, toys, grooming and unforeseen medical expenses. Rover estimates the maximum to be near $3,500.

There are resources to connect people with the breed or temperament of dog that is right for them, before committing to adopting.

The American Kennel Club has a complete list of all dog breeds on their website with description. They also have a quiz that asks a series of questions to help guide the selection process.

The Humane Society of the Pikes Peak Region has a list of adoptable dogs located at both their Colorado Springs and Pueblo facilities on their website.

Amazon joins other tech companies in cost-cutting measures

0

The stock market fell in the early days of November after the Dow Jones Industrial Average gained 14% in October, its best month since 1976.

On Friday, the Labor Department announced that the US economy had grown 261,000 jobs in October, topping economists’ estimates of 205,000 jobs. Wages rose 4.7% year over year and were up 0.4% from September.

On Wednesday, the Federal Open Market Committee raised its federal funds target range 0.75% between 3.75% and 4%. The move marks the Fed’s fourth 0.75% rate hike in five months as it continues to battle inflation.

Friday, five current and former Twitter employees the company sued, saying workers were not given enough advance notice of the mass layoffs. Tesla CEO Elon Musk acquired Twitter in late October for $44 billion and began the process of laying off around 3,700 employees on Friday.

Amazon also announced Thursday that it will be cold hiring ahead of the busy holiday shopping season, the latest in a string of big-name tech companies to suspend hiring or announce layoffs. Amazon’s hiring freeze came the same day ride-sharing company Lyft announced it was laying off 13% of its employees and payment technology company Stripe announced it was laying off 14% of its staff.

dark cloud

Shares of Twilio traded down 36% on Friday after the cloud-based software company reported a third-quarter net loss of $482 million and spooked investors with soft sell advice.

In the coming week, investors will receive more quarterly reports from Activision Blizzard on Monday, Walt Disney and Occidental Petroleum on Tuesday, and NIO on Thursday.

After:I Bonds Fall in November: What the New 6.89% Rate Means for Buyers

Excluding the energy sector, S&P 500 companies are posting their second straight quarter of negative revenue growth, according to FactSet.

Economic figures

Investors will receive key economic updates on Thursday when the US Department of Labor releases its October consumer price inflation index and on Friday when the University of Michigan releases its November consumer sentiment index.

After:Student debt relief scammers are already cheating people: What to watch out for

Benzinga is a financial information and data company headquartered in Detroit.

Mavs Business Assist: meet Sameer Ranjan with Catenate

0

The Mavs Business Assist program was launched at the start of the 2022-23 basketball season to support 100 diverse entrepreneurs and small business owners who call North Texas home.

The Dallas Mavericks have partnered with The Lonely Entrepreneur to provide program participants with access to the knowledge, tools and support they need to succeed in the Mavs Business Assist (MBA) program.

At the Mavs, we also believe in the power of storytelling, and it is our honor to feature various MBA members throughout the year to highlight their extraordinary achievements.

Every entrepreneur has a story to tell. This is especially true for minority and women-owned businesses, who often have to overcome even more hurdles to see their business succeed. The Dallas Mavs are thrilled to amplify the voices of diverse minority entrepreneurs in the inaugural class of the Mavs Business Assist program. This week we feature Sameer Ranjan.


SAMEER RANJAN
CTO of Catenate Corp.

ABOUT CATENATE
Samir Ranjan refused to follow the model of many people in his small hometown. While most kids grew up to work at the local steel mill, Ranjan aimed higher and dared to dream big.

At school, he flourishes and falls in love with mathematics and science. This passion was his ticket to see the world, and he went on to pass one of the toughest exams in India. This enabled Ranjan to pursue a Bachelor of Technology degree at the Institute of National Importance (NIT Raipur) in India. From there, he landed in Dallas, where his talents as an innovator and entrepreneur were put to work. He also became a highly respected guest speaker and lecturer and one of Catenate Corp’s founders.

Catenate’s core belief revolves around this quote: “Human behavior can be manipulated or inspired. It is your choice that you make as a leader. The Catenate team has worked on data science, human-centered design, education, psychology, and more.

The cutting-edge company is using AI technology to help hire managers by “removing any bias about color, caste, creed or race from human beings…” and individuals are instead “ judged for their talents and personalities”, creating an inclusive business environment.

Ranjan is more than an entrepreneur. He is an innovator, academic, data scientist, speaker, thought leader and guest speaker and sits on various boards. Above all, he wants to make the world a better place.

He decided to join Mavs Business Help to increase his product information to a wider net audience and get the chance to grab a funding opportunity by pitching my business proposal to investors.

Mavs.com visited Sameer to find out more about his story and background. Portions of the interview have been edited for clarity and conciseness.

Mavs.com: Before talking about your business or your idea, can you tell us more about your life and your background with our fans? Where did you grow up, go to school and how did you come to this moment?

RANJAN: I grew up in a small town in India. Since childhood, I was told that you had to study hard to get a steady job at a steel mill that happened to be the biggest employer in my town.

Since childhood, I was not interested in following the standard, but I managed to love math and science, which helped me pass one of the toughest exams in India. So I was selected to pursue my Bachelor of Technology in Institute of National Importance (NIT Raipur) in India. I got into college and got my engineering degree being the second highest in the whole university.

After working for a few years in India and founding companies and helping small businesses, I decided to move to the United States to pursue my Masters in Data Science. I graduated from the University of Texas at Dallas with a master’s degree and hope to continue my entrepreneurial journey by submitting a business reopening proposal with a plan for those impacted by COVID-19. I met like-minded people right after school and started creating products to help human development and here I am, working with my team to create a symbiotic world.

Mavs.com: Where does your passion for your business come from?

RANJAN:I was actually the first employee and one of the founding members of our company Catenate Corp. The idea was to help students find who they really are with their personality and what career paths should be aligned with them because we were amazed at the amount of money people spend to do something they dislike and later regret all the money lost.

During this time we have realized that the problem is the same with employees and employers, both are confused as to what is right for them and that is why we have the highest attrition rate in the world right now . We thought of creating a product to help candidates find the right jobs and employers find the right candidates, not only based on resumes, but also on soft skills and employee personality. We succeeded.

I’m passionate about helping people get the right education and the right resources because I’m here solely because of my education. I believe luck is only generated when you have the intellect to back it up. I want to make this world educated and make people more than their resume.

Mavs.com What do you wish more people knew about being an entrepreneur or business owner?

RANJAN: Being an entrepreneur sounds cool but there’s a huge price to pay, it’s endless self-confidence, pride in your team and the endless pressure of work, being said that the freedom and happiness you get from your job are unlike anything else on this planet. I believe there are general challenges but for me personally, I don’t think anyone has turned me down if I asked for help. So I guess the biggest challenge is asking for help.

Mavs.com: What is your vision for your business? How do you hope it impacts others or changes the world?

RANJAN: My vision for my business is to evolve it and make it accessible to everyone. My system for finding the right people for the right seat changes the world’s view of how hiring and talent management works, it has the ability to eliminate any bias about color, caste, creed or race of human beings and they are judged for their talents and personalities rather than anything else. It will have a very positive impact on business by doing something about inclusivity and not just adding it as a program in the business manual.

Mavs.com: Why did you decide to join Mavs Business Help?

RANJAN: I am looking for a great funding opportunity and a chance to show companies what we have developed. I joined Mavs Business Assist with the aim of increasing my product information to a wider audience and to have a chance at a funding opportunity by pitching my business proposal in front of investors.

Mavs.com: How can people support you? Be bold! What are your needs ?

RANJAN: I want companies to at least try my system to manage their talent and recruiting needs and help me create a bias-free world or at least try to give my self-assessment and get to know you better.

My system costs less than a cup of coffee for an employee for a month and it can bring about radical changes in your organization. I want the chance to show my business to investors who are looking for the next big idea that will change the world. I need newspaper and media attention for my product to make it global and help get my message out to the masses as it is a product to be adopted by the masses.

To learn more, visit the links below:
Websitewww.mayamaya.us, www.catenate.io
Contact at +1 9723428570
E-mail: [email protected]

CIC posts record nine-month financial results

0

CONCEPCION Industrial Corp., the flagship of the Concepcion family, announced record operating results for the third quarter ending September 2022.

Net sales increased by 15% compared to the same period last year to reach 3 billion pesos, mainly due to an increase in sales in the consumer and industrial market segments of 10% and 28%, respectively.

Sales growth in the consumer channel was driven by price increases, while the industrial segment increased due to the realization of a higher backlog and new orders with the easing of pandemic restrictions at as new commercial establishments open. Net sales for the first nine months totaled 9.7 billion pesos, up 7% for the same period in 2021.

Net profit improved by 370% in the third quarter to reach 34 million pesos. Higher margins on sales volume and higher prices offset higher input costs and the depreciation of the peso for the same period. Year-to-date net profit decreased by 14% to 298 million pesos, due to the early start of the rainy season and the pandemic restrictions still in place during the first quarter, associated to an increase in distribution costs.

“The business environment remains challenging, but we have made the right investments to weather the storm and thrive in the ensuing recovery. We remain confident that the fundamentals for an eventual economic recovery are in place. In the meantime, we continue to grow our products, brands, distribution and logistics capabilities, while improving our operational execution. We remain committed to our vision of creating happy spaces for Filipinos and are ready once the recovery gathers pace. in the medium term,” said Raul Joseph Concepcion, Chairman and CEO.

Get the latest news


delivered to your inbox

Sign up for the Manila Times daily newsletters

By registering with an email address, I acknowledge that I have read and accept the terms of use and the privacy policy.


How a major Medicare change could help seniors with high drug costs – 89.3 WFPL News Louisville

Multiple sclerosis was a blow in the life of Therese Humphrey Ball. She had to deal with the disease – and the cost of her treatment.

Symptoms like loss of vision and weakness in her legs forced the 68-year-old former nurse from Indiana into early retirement, and high drug costs forced her out of her beautiful apartment.

The worst was for the first two months, no heat,” Humphrey Ball said. “It was like something you never thought you would live in.”

But she felt she had no other options. Humphrey Ball had successfully treated his MS for eight years with the drug Copaxone. But the drug cost $6,000 a month, more than his monthly income.

Teva Pharmaceuticals, the maker of Copaxone, increased the price 27 times in 25 years. The drug now costs about $7,000 a month, 10 times what it cost when it was launched in 1997.

Humphrey Ball had to ration himself and eventually stop Copaxone for several months.

“You can’t imagine how crazy I was,” she said, “…to think that in the United States of America people have to do this. It’s not correct.”

Humphrey Ball channeled that anger by testifying on Zoom before Congress in May 2021.

“I can’t control my disease or change that I have MS, but telling you my story and advocating for lower prices is something I can control,” she told lawmakers.

Policymakers have listened: Part of the Cut Inflation Act passed in August limits out-of-pocket costs for seniors who receive Medicare prescription drug coverage known as Part D.

Increase senior access and cost savings

Federal Medicare program for older Americans reaches historic milestone: Beginning in 2025, the 48 million older people Program participants won’t have to spend more than $2,000 of their own money on prescription drugs each year. Currently, there are no spending limits, forcing some seniors who rely on expensive drugs to empty their savings and retirement accounts to pay for their drugs.

The new limit is about 1.4 million older Americans who spend more than that annually.

The IRA’s ambitious goal is to reduce costs for seniors and the Medicare program as a whole, while increasing cost share for insurance companies and drugmakers.

New benefit shifts responsibility to drugmakers and insurers

The Medicare prescription drug benefit overhaul is an attempt to reduce the burden on patients and Medicare costs while increasing the amount insurers and drug manufacturers are responsible for Part D drugs. Medicare is a federal program, the elderly are covered by private insurers.

Under the current design, Medicare spent $52 billionor nearly half of all Part D dollars, roughly 2% of beneficiaries who take expensive drugs.

“It really boils down to a basic problem with the original design of the D-part advantage,” said Juliette Cubanski, deputy director of health insurance policy for the Kaiser Family Foundation. “For patients and for the Medicare program, the risk is completely open.”

Much of the risk rebalancing from 2025 will occur after patients reach that $2,000 spending threshold. The new benefit cuts Medicare program costs to 20% from 80% previously. Meanwhile, drugmakers will now be required to give a 20% discount on the list price of drugs. Insurance companies will be responsible for 60% of drug costs, four times their current liability.

This is intended to incentivize insurers to negotiate harder with drugmakers for lower prices.

As insurers’ risk increases, companies will likely turn to other levers to control costs. The new IRA rules limit annual premium increases to 6% per year.

But Cubanski warns that insurers could potentially reduce benefits. Insurers could also limit the list of drugs they cover or monitor more closely, as well as the drugs patients take. This could make it harder for older people to get the drugs they need.

“Overall, Medicare beneficiaries get a much better benefit in terms of out-of-pocket expense exposure,” Cubanski said of Part D’s shift to greater financial liability for insurers.

But she warns older people could also forgo easy access to more types of drugs with no deductible and low premium.

The future challenges of seniors

While the new spending limit is likely to increase costs for insurance companies, it could be a boon for drugmakers.

Drugmakers love the cap,” Cubanski said. “Making drugs more affordable for patients means they’ll be less likely to skip doses.”

While demand for prescription drugs is expected to rise, the new Part D law includes other provisions to limit drug prices that could limit manufacturers’ revenues. These include giving Medicare the power to negotiate drug prices and penalizing drugmakers for raising prices faster than inflation.

One potential consequence Cubanksi and others are watching is higher introductory prices for new drugs.

While seniors will be shielded from these high prices with the new cap, they could face other challenges, including higher premiums and lower benefits, as insurance companies seek to limit their spending.

Humphrey Ball is counting down the days until 2025, when the new cap begins and she can start taking Copaxone again.

“So that’s what I’m happy about. That’s what I’m looking forward to – knowing that the medicine I need will be there for me and I won’t have to hoard it anymore,” she said.

She looks forward to a sense of predictability, something she has sought since her diagnosis in 2003.

This story is from the Health Policy Podcast Compromisepartner of Public media on side effects. Dan Gorenstein is editor of Tradeoffs, and Alex Olgin is a reporter/producer on the show, which aired this story on October 27, 2022.

Tradeoff’s coverage of issues facing older Americans is supported in part by the SCAN Foundation, which provides a coordinated, easily navigable system of high-quality services for older adults that maintain dignity and independence.

ETF PHO: The US-centric water game is horribly popular (NASDAQ: PHO)

0

Sweetflower/iStock via Getty Images

The Invesco Water Resources Portfolio ETF (NASDAQ: PHO) is yet another thematic fund focused on water conservation that I would like to discuss. The purpose of my article today is to analyze its factor exposure, carefully examining its value, growth and quality characteristics by leveraging Quant data to come to a conclusion as to whether it makes sense to buy into the ETF at current levels.

Before moving on to analyzing the key metrics of concern, let me briefly recall the key findings from my two previous articles on water ETFs published earlier this year, namely the Invesco Global Water ETF (PIO), as well as Invesco S&P Global Water Index ETF (CGW).

What I mean is that water is an undoubtedly precious resource, and the growth in demand over the decades, supported by global population expansion, offers a lucrative opportunity. However, as I concluded in my October note on PIO,

… capitalizing on this trend via equity investments is not necessarily feasible, because distilling a pure-play portfolio of water is almost impossible.

What is SPO’s investment strategy?

With $1.5 billion in net assets accumulated since its inception in December 2005, PHO tracks the cash-weighted NASDAQ OMX US Water Index. The index is in many ways similar to the one its counterpart PIO adheres to, targeting companies involved in water purification and conservation for both residential and industrial end markets.

However, there is one main difference, namely the geographic footprint. The latter has significant exposure to international equities, unlike the former, as it must be listed on a US stock exchange to be included. As expected, according to PHO’s holdings dataset, it has only one ADR in the portfolio, Cia de Saneamento Basico do Estado de Sao Paulo (SBS), a Brazilian provider of water and sewer services, with a weighting of 1.86%.

Over the past few years, overshadowed by high currency volatility amid the trade war that rocked supply chains and then the coronavirus pandemic that exaggerated already existing problems, heavy exposure to the yen, the pound sterling, euro, etc. has been a major detractor of PIO. performance. This year, FX headwinds from interest rate hikes in the US also appear to be a plausible reason why it has significantly underperformed PHO.

PHO ETF Total Return % Price Change
Data by YCharts

Meanwhile, the flip side is that the PHO fund would be unable to reap the benefits of the inevitable weakening of the USD if interest rate hikes were to end at some point next year, mainly in depending on CPI dynamics, employment trends and recession. risk. The pivot from the Fed, if it materializes, could also contribute to the rebound.

Somehow, even considering that a rally in developed country currencies will eventually be staged in the medium term (especially assuming the energy crisis in Europe is resolved), I am skeptical whether PIO is the best choice to play this.

The product of PHO’s strategy is a portfolio of 36 stocks, more than 60% of which is spread across the top ten. Investors looking for large-cap baskets with all the quality benefits they offer would likely be disappointed here, as the median market cap of the fund’s holdings is only around $4.6 billion, with a value median business of about $5 billion.

Still, a weighted average figure is substantially higher at over $29 billion, by my calculations, so it should offer some comfort. Either way, 40% of net assets allocated to mid and small cap stocks is an issue to consider. Below, discussing the profitability and quality factors, I will explain why this is a vulnerability.

In terms of sectors, it is an extremely industrial game, with a 48% share distributed disproportionately among 20 holdings. Utilities come second with 17.7%. Health is last in the key trio, at 15.4%. Other sectors favored by the fund are information technology (11.1%), with Roper Technologies (ROP), an application software company, being its main investment with approximately 8.1% of net assets allocated, and materials (7.6%); the latter is only represented by Ecolab (ECL), a company with a portfolio of water, hygiene and infection prevention solutions.

Analyze value, quality and growth

In my notes, I always encourage my dear readers who have a particular interest in ETFs to look beyond a promising investment theme and instead focus on the factors. Valuation, quality and growth prospects are what count.

And when it comes to exposure to the PHO factor, there’s a lot to criticize. First, it’s priced horribly. The quantitative data for the top 20 holdings (~88% of net assets) speaks for itself.

Quantitative data table

Created by author using data from Seeking Alpha and fonds

An 85.5% share of stocks trading at a significant premium to their respective sectors is what I would expect from a tech hedge fund. Still, this is an industry-focused ETF geared towards mid-caps. And I don’t like this mix.

For better context, a table with selected valuation metrics for the top 20 stocks is shown below.

PHO valuation

Created by author using data from Seeking Alpha and fonds

Additionally, looking at the weighted average multiples, the WA EV / EBITDA (Last Twelve Months) of 18.67x is clearly expensive (especially considering that the industry sector median is around 11.76x), with a weighted average Enterprise Value / Sales of 4.9x is also overstretched.

As a further indication of overvaluation (thus, little or no safety margin if the hawk-led sell-off continues) is a large presence of stocks with a D-Yield rating and worse, around 72.5%. Clearly, buying a PHO at 30 basis points for a value or dividend-oriented investor is just plain nonsense at these levels.

However, are these multiples justified by the better quality of PHO’s holdings? Only in part. He owns around 76.5% of the shares with at least a B- Profitability rating, with only a few names being negative for cash flow, as shown in the chart below. However, this is not ideal.

Profitability table

Created by author using data from Seeking Alpha and fonds

Also, stocks with growth characteristics such as Global Water Resources (GWRS) represent less than 13.5% of net assets, so I wouldn’t say the premium valuation is warranted.

How has PHO worked in the past?

Since its inception (excluding December 2005 and October 2022), PHO has failed to beat the iShares Core S&P 500 (IVV) ETF, with a CAGR of only 7.39% compared to 8.63% for the IVV, with an upper standard deviation of about 4%. Nevertheless, it should be noted that the lower CAGR was likely the consequence of higher expenses; at the same time, annual performance looks robust overall, especially in recent years.

Comparison of IVV and PHO returns

Created by author using data from Portfolio Visualizer

This year (October included), PHO has slightly outperformed IVV, by around 25 basis points, more likely since the latter has been dragged down by weak technology indicators this earnings season.

Final Thoughts

In closing, I wouldn’t say it makes sense to invest in a large midcap fund with an utterly horrible valuation. The quality is certainly not entirely dismal, with a relatively large share of highly profitable stocks being a solid positive. However, a bullish thesis could not be built on this premise alone.

Obviously, PHO has a few advantages. For example, it is inherently less sensitive to the global macro economy assuming it only invests in US-listed companies. Similarly, it could underperform other water games that have lower dollar exposure when the US up cycle is over.

That said, it should be kept in mind that FX sentiment will influence its returns in one way or another, due to its holdings having globally diverse trading patterns. For example, as Xylem (XYL), the fund’s holding with a 4.4% weighting, mentioned on slide 18 of its Q2 presentation, a 5% drop in the euro’s key interest rate for l fiscal 2022 of 1.01 would remove $42 million from revenue and $0.13 from EPS. .

In sum, all of the above indicates that PHO is at best a restraint.

With the sheer volume of Netflix, Unsolved Mysteries gets even better. – The UBJ

0

Unsolved Mysteries is a significant contribution to the true crime genre, and the third season of the Netflix documentary series shows why it’s still fantastic.

Recently, the first three episodes of the new season of Unsolved Mysteries on Netflix have been made available. Unsolved Mysteries: Volume Three debuted to great fanfare and has since been hailed as the best season yet. There’s plenty of time to reflect on these horrible and mysterious situations as there will be three new episodes released every Tuesday for the next two weeks.

The popularity of true-crime TV shows and movies has skyrocketed recently. The acclaimed Unsolved Mysteries docuseries, which debuted in 1988, focuses on unsolved crimes in all their manifestations, including murder, kidnapping, paranormal activity, and even UFO sightings. Each episode is a unique case that introduces viewers to a whole new puzzling tale.

Even in the true crime genre, which seems to grow with new productions every year, the Netflix version of Unsolved Mysteries stands out. Here’s how the program differs from the competition and some additional information regarding upcoming episodes.

Unresolved Nature

When it comes to detective stories, there is a wonderful reward: the moment when everything clicks into place and the mystery is solved. This is especially true with true crime stories where the victims and violence are real people, which intensifies the need for justice. However, it is clear that unsolved mysteries have no solutions. Because of this, the writers had to make a number of subtle changes in order to make the stories compelling and focus on closing those families down.

Re-enactments, depositions, or interviews with family, friends, and investigators who worked on the case are all used in Unsolved Mysteries. In order to tell a sufficiently compelling story that draws viewers in and transports them to these worlds, even if the conclusion is the same, there are also found footage (news coverage from when the events happened, video self-recorded, etc.) . (unresolved). The docuseries effectively tell his story and urge viewers to come forward if they have any new information about a case, especially one involving murder and suspicious activity. The show has excelled at striking that difficult balance in these most recent episodes.

The romanticization and celebration of the perpetrator (or crime) and the dehumanization of the victim are two of the most common criticisms of the true crime genre. Especially in the movie Extremely Wicked, Shockingly Evil and Vile and more recently in Monster: The Jeffrey Dahmer Story, it happened frequently with Ted Bundy. Each new film and TV program based on true stories has made this more visible. Some films even approach ignoring the fact that the victims were real individuals in favor of emphasizing a serial killer’s tragic past or the greedy elements of the investigation. It’s chilling how little attention is given to victims in recent productions, considering that these elements should be part of those storylines.

Two of the most common complaints about the true crime genre are the romance and celebration of the offender (or the crime) and the dehumanization of the victim. This happened frequently with Ted Bundy, especially in the films Extremely Wicked, Shockingly Evil and Vile, and Monster: The Jeffrey Dahmer Story. This has become more evident with each new film and television program based on true stories. Some films even go so far as to downplay the fact that the victims were real people in favor of highlighting the tragic backstory of a serial killer or the greedy aspects of the investigation. Given that these elements should be part of these narratives, it is worrying how little attention is paid to victims in recent productions.

Additionally, the loved ones of the victims are given priority, making unsolved mysteries less about the abusers and more about the victims and events. The fact that these incidents go unsolved and there are no known suspects or anyone to investigate is definitely a contributing factor to this, but it still works.

Many unsolved mysteries

One of the main highlights of the show since its relaunch is how radically different cases are explored. Although there are plenty of murders, the unsolved mysteries also include cases involving ghosts and aliens. This is clearly evident in the first three episodes of the current season, which recreate intriguing instances that leave the viewer wondering what happened. One of the best aspects of the series is enhanced by the interesting diversity between the first three episodes, and from what we know of the episodes to come, the variety will only increase.

The third season begins with a powerfully emotional episode titled “Mystery at Mile Marker 45”. Tiffany, a young woman, perishes in the episode after being hit by a train. The cause of death was quickly determined to be suicide, but the family were unhappy with the decision because not only would it be inconsistent with who she was, but also because crucial factors were not considered. Most importantly, she was only wearing her panties and no other clothes or shoes when she was hit by the train.

In a surprising twist, “Something in the Sky” tells the story of more than 300 Michigan residents who witnessed strange patterns in the sky that night in 1994. Then, “Body in Bags” returned to its sad and heartbreaking core, focusing on the story of a young father named David who had been murdered and maimed. The main suspect fled and has not been found since.

When viewing the show, it is impossible to resist trying to solve these cases. Fans will just have to wait for the final six episodes, which means they could see six more puzzling cases. Or they can watch the two most recent seasons, which contain a number of gripping stories.

Wisconsin pantries are anticipating record demand for Thanksgiving. They will need record donations to meet them.

0

Nearly three years into the pandemic, high grocery prices are driving thousands of Wisconsin families to their local pantries for the first time.

You probably noticed the price of just about everything – from a carton of eggs to a gallon of gasoline – is significantly higher than this time last year. Costs are rising an average of 8%, according to the consumer price index, a 40-year high.

For many families, rising food prices are the first thing they notice. In 2020, Americans spent 9% of their income on food, according to the United States Department of Agriculture. Every day more and more families are realizing that they simply can’t afford it anymore. Many are using pantries for the very first time.

Pantries in Wisconsin are still often stigmatized, seen as something used by the homeless. Or drug addicts. Or lazy. That couldn’t be further from the truth.

As two of the most food-focused months of the year approach, we caught up with the executive director of Feeding Wisconsin to find out who’s really using them, what they need, and how you can help them.

Christina Lorey, UpNorthNews Editor: What the need for food looks like right now in Wisconsin compared to the start of the pandemic [spring 2020]?

Stephanie Jong Dorfman, Executive Director of Feeding Wisconsin: Our network [of local food pantries] again experiencing a spike in COVID demand. We are experiencing a 28-43% increase in visitors, depending on which part of the state you are in.

Why are the numbers so high?

COVID-era policies and programs worked! However, we are beginning to see that food hardship is on the rise again, in part because these programs and policies are being phased out. When federal or state emergency public health orders end, Wisconsin residents will lose approximately $71,000,000 per month in emergency allowances (this number is increasing).

Can you explain what food insecurity is?

Food insecurity is the The USDA measure lack of access to enough food for an active and healthy life for all household members. Food insecure households are not necessarily food insecure everything time. Food insecurity may reflect a household’s need to compromise between important basic needs, such as paying for housing or medical expenses, and purchasing nutritionally adequate food.

How much of a problem was food insecurity before the pandemic?

In 2019, Feeding America estimated that more than 530,000 Wisconsin residents, or 9% of the population, were food insecure. That included nearly 184,000, or 14.5%, of Wisconsin children. We also know that food insecurity has a disproportionate impact on different communities:

  • 27% of black Wisconsin residents have experienced food insecurity
  • 21% of Latino residents in Wisconsin have experienced food insecurity
  • 7% of white Wisconsin residents have experienced food insecurity

Food security for white Wisconsinites has actually improved during the pandemic — to 5%. The other groups remain the same.

Let’s talk about your organization. How many people does Feeding Wisconsin help?

I don’t have an up to date estimate as we are currently pulling data for the past year. I can share that Feeding Wisconsin operates the six regional Feeding America-affiliated food banks in the state that provide food to nearly 1,000 local food programs in all 72 counties. Together, the Feeding Wisconsin Network provided 86 million pounds of food to Wisconsinans in every corner of our state in 2021, a 75% increase from 2019.

Is there a “busiest time of year” for food pantries in Wisconsin?

In a time that is not affected by a pandemic or other reasons fueled by economic recession, the busiest times are often holidays and non-school times – when families may have to try harder to put food on their tables and have more competing financial obligations than usual. Weekends, summer and vacations usually place an additional financial burden on families.

If people are able to help, what do you think are the top five items they can bring into a pantry?

  • Peanut Butter
  • Canned protein (beans, chicken, tuna)
  • Canned vegetables and fruits low in sodium and sugar
  • Pasta
  • Cereals with low sugar content

What’s better: giving time, food or money?

All the foregoing! Our food banks rely on food, funds, and friends.

Let’s discuss each of them. What do volunteers do do and when do you need it the most?

Food banks rely on the strength of volunteers to sort, repack and distribute food. Food banks and community food distribution partners need volunteers year-round, but we often see a lull in volunteering after the winter break.

And what about food and money?

Donating food is always helpful, but donating money allows food banks to buy exactly the food their communities demand. The funds help provide fresh, nutritious foods like fresh produce, dairy, and protein that are more difficult for individuals to donate. We can also purchase items more efficiently on a large scale [so your donation stretches farther].

What can $5 cover?

Our food banks estimate that $1 can sustain approximately 3 meals. So $5 supports 15 meals, $20 supports 60 meals, and $50 supports 150 meals.

What do you think is still the biggest misconception about people who get help from a pantry?

They’re not like us. Unfortunately, the pandemic has shed light on the experience of normalizing food insecurity. People looking for pantry resources, nutritional benefits, or other resources are our friends, family, and neighbors. Everyone needs help from time to time, and everyone deserves support to get their basic needs met.

Click here to get involved with Feeding Wisconsin.

Click here to find a pantry near you and GET HELP today.

Feeding Wisconsin’s mission is to support and empower food banks, partners and the general public in all 72 counties to end hunger, improve health and strengthen local communities. Through our food banks and pantries, we ensure everyone has access to the food and benefits they need to work, learn, play and live a healthy life.

Arrests in the Tehachapi region in September | New

The following is a list of arrests in the Tehachapi area for the month of September according to the Kern County Sheriff’s Department and other law enforcement agencies; all suspects are considered innocent until proven guilty in court.

Jason D. Hurlburt, 23, was arrested in Orange County (Sheriff of Orange County) on August 30.e in case of suspicion of sabotage with vehicle.

Ivan Aragon, 40, was arrested on August 30e on suspicion of threats of violence, contempt of court: disobeying court order/procedure and assaulting a person.

Larry Tripp, 40, was arrested by Bakersfield police on September 3rd in the event of suspicion of battery on the spouse/partner/former spouse, in a state of intoxication in public and MANDATE: warrants or deductions only.

Korie Michael, 37, was arrested by Bakersfield police on September 3rd if impaired driving is suspected: alcohol/drugs.

Cole C. Calanchini, 21, was arrested in San Luis Obispo County (Templeton CHP) on August 28.e if impaired driving is suspected: alcohol/drugs.

Jeff Haeberle, 61, was arrested on September 7e in the event of suspicion of inflicting bodily harm on the spouse/partner.

William Aitchison, 56, was arrested on September 12e in case of suspected hit-and-run resulting in property damage and driving when the license is suspended for refusal or excessive blood alcohol level.

Shawn Vogel, 31, was arrested on September 14e on suspicion of intoxication in public.

Emily Vallembois, 21, was arrested on September 16e in the event of suspicion of battery on a person and assault with a deadly weapon or assault with force likely to produce serious bodily harm; she was arrested again on September 17e in the event of suspicion of concealment of stolen property – Motor vehicle.

Joshua Courtis, 43, was arrested on September 18e in case of suspected introduction of controlled substances / etc. in prison, possession of burglar’s tools, taking a vehicle without the consent of the owners and receiving stolen property – motor vehicle.

Francisco Martinez, 37, was arrested in Orange County (Sheriff of Orange County) on September 18e in the event of suspicion of concealment of stolen property – Motor vehicle.

Joseph Church, 42, was arrested on September 19e on suspicion of parole violation: felony.

Ryan C. Clagg, 30, was arrested in Ventura County (Ventura County Sheriff) on September 24e on suspicion of possession of a controlled substance, use/under the influence of a controlled substance, possession of drug paraphernalia and violation of probation.

Jacqueline Dowling, 58, was arrested by Mojave CHP on September 27e in case of suspicion of driving without a license, failure to provide proof of financial responsibility, driving while intoxicated: alcohol/drugs and driving while intoxicated: alcohol with a blood alcohol level > 0.08.

Erik Estrada, 40 (not the actor), was arrested in Los Angeles County (Century Sheriff) on September 28e on suspicion of escape: wanton disregard for security.

Mark Caldwell, 26, was arrested in Orange County (Costa Mesa Police) on September 28e on suspicion of disorderly conduct: soliciting an obscene act and indecent exposure after illegally occupying a dwelling.

Global White Box Server Market Report 2022: Data Analytics and Cloud Adoption Drive Demand and Fuel Growth – ResearchAndMarkets.com

0

DUBLIN–(BUSINESS WIRE)–The report “White Box Server Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027” has been added to from ResearchAndMarkets.com offer.

The global white box server market size reached US$10.5 billion in 2021. Looking forward, the vendor expects the market to reach US$29.5 billion by 2027 , posting a CAGR of 18.79% in 2021-2027. Bearing in mind the uncertainties associated with COVID-19, we continuously monitor and assess the direct and indirect influence of the pandemic. This information is included in the report as a major market contributor.

A white box server refers to a data center server built by original design manufacturers (ODMs) using commercial off-the-shelf (COTS) components. It is mainly used by data center professionals who need high product customization. Depending on the components, a white box server can efficiently perform various memory and network connectivity functions. They can also run virtualization software as well as premium operating systems such as Windows Server and Red Hat Enterprise Linux (RHEL) and provide high availability (HA) and failover protection.

Cost-effectiveness and high degree of customization of white box servers are the major drivers of market growth. Along with this, the rising trend of digitalization and increasing use of cloud services and big data analytics are also contributing significantly to the product demand. There is a growing demand for low cost servers, increased availability and flexibility in hardware designs, due to which consumers are increasingly opting for ODM services to build their network equipment and software solutions.

Additionally, data analytics and adoption of cloud with increase in server applications for processing workloads through cross-platform support are also increasing the market growth. The ODMs also focus on developing a cost-effective and energy-efficient product that offers improved storage to meet user requirements. Moreover, various technological advancements such as construction of energy-efficient green data centers to control carbon emissions and electricity consumption are also creating a positive outlook for the market. Other growth factors include the increasing adoption of open platforms and an overall increase in demand for micro servers across the world.

Key Market Segmentation:

The publisher provides analysis of key trends in each sub-segment of the Global White Box Servers market report, as well as forecasts at the global, regional and country levels from 2022 to 2027. Our report has categorized the market based on form factor, enterprise type, processor type, operating system and component.

Breakdown by form factor:

  • Rack and tower servers

  • Blade servers

  • Density Optimized Servers

Breakdown by type of business:

Breakdown by processor type:

  • X86 Server

  • Non-X86 Server

Breakdown by operating system:

  • Linux operating system

  • Others

Breakdown by component:

  • Motherboard

  • Processor

  • Memory

  • Hard disk

  • Server enclosure/chassis

  • Network adapter

  • Others

Breakdown by region:

  • North America

  • United States

  • Canada

  • Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Others

  • Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Russia

  • Others

  • Latin America

  • Brazil

  • Mexico

  • Others

  • Middle East and Africa

Answers to key questions in this report:

  • How has the global white box server market behaved so far and how will it behave in the coming years?

  • What are the major regional markets of the global white box server industry?

  • What has been the impact of COVID-19 on the global white box server market?

  • What is the market breakdown by form factor?

  • What is the market breakdown by business type?

  • What is the market breakdown by processor type?

  • What is the market breakdown based on operating system?

  • What is the market breakdown by component?

  • What are the different stages of the market value chain?

  • What are the major market drivers and challenges?

  • What is the structure of the global white box server industry and who are the major players?

  • How competitive is the market?

Main topics covered:

1 Preface

2 Scope and methodology

3 Executive summary

4 Presentation

5 Global White Box Server Market

6 Market Breakdown by Form Factor

7 Market Breakdown by Business Type

8 Market Breakdown by CPU Type

9 Market Breakdown by Operating System

10 Market Breakdown by Component

11 Market Breakdown by Region

12 SWOT Analysis

13 Value chain analysis

14 Analysis of the five forces of carriers

15 price indicators

16 Competitive Landscape

Companies cited

  • Celestica Inc.

  • Compal inc.

  • Hon Hai Precision Industry Company Ltd.

  • Hyve Solutions Corporations

  • Inventec Corporation

  • MiTAC Holdings Corporation

  • Pegatron Company

  • penguin computing

  • Embedded Quanta Computer

  • Equus computer systems

  • Super Micro Computer Inc.

  • Wistron Company

  • ZT systems.

For more information about this report visit https://www.researchandmarkets.com/r/br9tkw

Southern Co cuts cost estimate for Georgia Vogtle reactors, sees them in 2023

0

Oct 27 (Reuters) – U.S. energy firm Southern Co (SON) Thursday cut its utility Georgia Power’s cost estimate of two nuclear reactors under construction at Georgia’s Vogtle plant to $10.383 billion from its previous forecast of $10.453 billion.

Vogtle’s reactors, already billions of dollars over budget and years behind schedule, are the only nuclear power plants under construction in the United States.

In an investor presentation of its third quarter results, Southern also met its previously scheduled 2023 in-service dates of the first quarter for Unit 3 and the fourth quarter for Unit 4.

Southern said in a statement that it has completed the initial fuel loading of Unit 3 of 157 fuel assemblies, from the spent fuel pool to the reactor core, and expects the plant to reach “initial criticality” in January.

When Georgia approved Vogtle’s expansion in 2009, the two 1,117-megawatt Westinghouse AP1000 reactors were expected to cost about $14 billion and go into service in 2016 and 2017.

Some analysts estimate that total costs, including funding, have soared to more than $30 billion following delays related to the coronavirus pandemic, the 2011 nuclear accident at Japan’s Fukushima plant and the bankruptcy in 2017 of Westinghouse, the former contractor of the project.

Vogtle owners include Georgia Power (45.7%), Oglethorpe Power Corp (30%), Municipal Electric Authority of Georgia (22.7%) and Dalton Utilities (1.6%).

Over the summer, two of Vogtle’s partners — Oglethorpe in June and Dalton in July — said they wanted to freeze spending on the project. Their participation in the project will be recalculated later on the basis of the total cost of completing the reactors.

Reporting by Scott DiSavino Editing by Bernadette Baum

Our standards: The Thomson Reuters Trust Principles.

Chinese stocks up in the U.S., erasing most of the record sell-off

0

(Bloomberg) – Chinese stocks in the United States extend their rally after a record sell-off on Monday, as Beijing’s pledge to support its financial markets boosted investor confidence and retail traders bought the decline.

Bloomberg’s Most Read

The Nasdaq Golden Dragon China Index rose 7.2% on Wednesday, taking its two-day gain to 12%, the largest since April. The index has erased most of its losses from Monday, when it fell 14%. Among the best performers, Alibaba Group Holding Ltd., JD.com Inc. and Pinduoduo Inc. jumped more than 8%, while Lufax Holding Ltd. rebounded 13%.

Some investors saw a glimmer of hope after China’s central bank and foreign exchange regulator pledged to ensure the healthy development of financial markets and reiterated that the yuan would be “fundamentally stable”. The comments followed President Xi Jinping’s tightening of control over the government, which raised fears among foreign investors that his strategy could stifle the country’s economy and private enterprise.

The offshore yuan jumped a record high, joining a broad rally against the dollar as investors bet the Federal Reserve will moderate the pace of its rate hikes. The strength of the decision surprised traders, who also said they saw Chinese banks selling the greenback to help rebound the currency from an all-time low.

“While sentiment is expected to remain depressed and markets may remain volatile until concrete policy action emerges, supportive growth announcements could lead to strong gains, as happened in May or June,” wrote Mark Haefele, chief investment officer of UBS Global Wealth Management, in a note. Wednesday.

The risks and rewards of Chinese equities are balanced, and investors should consider sticking to the benchmark allocations for Chinese equities rather than going underweight, according to Haefele. “Those with a lower allocation might consider buying on dips, and we continue to recommend positioning in resilient earnings sectors given the prevailing headwinds,” he wrote.

That’s exactly what some traders did in Monday’s epic selloff. U.S. certificates of deposit from Chinese companies were among the most bought stocks this week as retail investors looked to “buy the dip,” Vanda Research analysts, including Marco Iachini, wrote in a note Wednesday.

Retail investor buying of major Chinese ADRs on Monday surpassed levels last seen during the Shanghai shutdowns in March, with more than $157 million in net flows, according to Vanda. Alibaba, Nio, and Pinduoduo were the top recipients with $92 million, $32 million, and $12 million in net inflows respectively, the report said, noting that Alibaba attracted nearly 60% of inflows that day- the.

Yet China’s stock markets remain fragile and risk being bogged down by the nation’s Covid-zero policy. Reports of a lockdown in one of Wuhan city’s central districts dealt a major blow to indices in China and Hong Kong early on Wednesday.

–With help from Matt Turner.

(Adds a paragraph on the yuan.)

Bloomberg Businessweek’s Most Read

©2022 Bloomberg LP

Shasta Lake Council’s 3rd seat heads to special election after mistake

A third open seat on Shasta Lake City Council likely heads to a special election next year.

What hasn’t been determined is who will pay for this, the city, Shasta County, or a combination of the two?

To top off a confusing few weeks, Shasta Lake City Council could decide next Tuesday to call a special election. One date that has been discussed is March 7.

“I have to admit it’s very complex and very confusing,” Mayor Rich Kern said at the Oct. 18 council meeting after hearing from Shasta County Clerk/Registrar of Voters Cathy Darling Allen and Clerk of Shasta Lake City, Toni Coates.

Matt Doyle

The special election will determine who fills the remaining two-year term of former Vice Mayor Matt Doyle, who has left town and cannot run.

Meanwhile, on Nov. 8, voters in Shasta Lake will decide a six-party race for two four-year open seats on the council. The seats are held by Kern, who is not running, and Pamelyn Morgan, who is seeking re-election.

Tena Eisenbeisz, Julia Screechfield, Jim Mark, Dolores Lucero and Justin C. Jones complete the list of candidates vying for the two seats.

Initially, the city council was told they could appoint someone to complete Doyle’s term. This appointee would be the third to vote in the Nov. 8 election.

“Well, I think council had the right information until Cathy Darling Allen came to our meeting last Tuesday,” councilor Janice Powell told Record Searchlight. “There was some confusion as to whether the mandate could be appointed, depending on the electoral code.”

It is not possible.

Shasta County Clerk and Registrar of Voters Cathy Darling Allen addresses the Board of Supervisors Tuesday, September 13, 2022.

Taking full responsibility for removing Doyle’s seat from the ballot, Darling Allen told the council on October 18 that the seat should be awarded by special election.

“My office has absolute culpability here – we made a mistake for sure. We didn’t include that separate contest (on the ballot) that lasted two years,” Darling Allen said at the meeting.

Janice Powell

“So it is not possible for us to reprint the ballots and send them to everyone. … It’s not the cure, it’s not the mistake,” she added.

Powell was candid about the potential cost of the special election and the hardship for the city if it had to take on that financial liability for something that was not its fault.

“For a small town our size, that seems like too much when the city hadn’t planned it that way. We had thought that all open seats would be on the general election ballot,” Powell said.

Election 2022:Shasta County, city council race previews. What voters need to know.

Find more election news:Full coverage of the midterm elections

Darling Allen gave the board a rough estimate of $82,000 for the special election. She noted that the cost could come down if done with strictly mail-in ballots with a polling place at the County Elections Office in downtown Redding.

“I understand that someone from the county has made an offer to share the costs and I would certainly support that,” Darling Allen told the council, although she stressed that she did not have the authority to make this commitment. .

Jessaca Lugo

This would likely be the Shasta County Board of Supervisors via a recommendation from Acting County Chief Executive Patrick Minturn.

Shasta Lake City Manager Jessaca Lugo told Record Searchlight that the city submitted a letter to Minturn asking that the county pay the cost of the entire special election.

Lugo said District 4 Supervisor Patrick Jones, whose district includes Shasta Lake, has requested that the cost agreement be placed on the supervisors’ agenda next Tuesday.

“I don’t know how it’s going to be put on the (supervisors’) agenda. The town of Shasta Lake asked the county to cover the cost of the election,” Lugo said.

David Benda covers business, development and all things happening for the USA TODAY Network in Redding. He also writes the weekly “Buzz on the Street” column. He is part of a dedicated team of reporters who investigate wrongdoing, cover breaking news and tell other stories about your community. Join him on Twitter @DavidBenda_RS or by phone at 1-530-338-8323. To support and sustain this work, please register today.

AwareID™ offers lightning-fast identity verification, multi-factor authentication and multi-modal biometrics in a single low-code platform

0

BURLINGTON, Mass., October 24, 2022 — Aware, Inc. (NASDAQ: AWRE), a leading authentication company that applies proven and trusted adaptive authentication to solve everyday biometrics business challenges, disrupted the industry today with the introduction of its all new product, AwareID™. Gone are the days when advanced security was only available to organizations with large budgets, deep IT teams, and free time. AwareID combines the historically disjointed best practices behind identity verification, multi-factor authentication, and multi-modal biometrics into a single, low-code platform that’s preconfigured for the most common use cases and is functional from the start. .

“We know that the increased frequency of data breaches, rising rate of fraud, and the introduction of government regulations and mandates have driven organizations across all industries to seek security solutions that promise protection,” commented Bob. Eckel, president and CEO of Aware. “The problem is that what they find when they search is a plethora of products from various vendors that all need to be technically integrated and multi-sourced to form a complete offering. This research and integration takes time, money and advanced technical knowledge, preventing organizations without these resources from deploying the level of security they need. With AwareID, we’re bringing the latest in next-gen authentication to the masses.

Pre-configured for the most common use cases and positioned at an affordable price, AwareID tackles integration and authentication to help organizations of all sizes improve their security posture while improving the user experience. the end user. Non-IT professionals can protect their organization with AwareID’s intuitive, easy-to-use, low-code administration platform. For organizations that have deep technical expertise, IT teams can skip preconfiguration and expand the realm of possibilities to fit unique requirements, or simply develop internal workflows and/or trade secrets to differentiate their organization and their offers. .

“From a consumer perspective, we know users are tired of passwords, as our recent survey reiterates. From a customer perspective, we know organizations struggle to piece together disparate technologies in an effort to strike the right balance between friction and security,” said Craig Herman, chief revenue officer at Aware. “AwareID takes the strain off the customer’s organization and provides a functional offering that can be deployed in minutes instead of months, and at a fraction of the cost of existing piecemeal solutions.”

Aware leverages over 25 years of proven implementation expertise and the convergence of machine learning, artificial intelligence, and biometrics to deliver a next-generation authentication platform that aligns with the needs of organizations and protects identities against new emerging attack vectors. AwareID’s scalability and open environment allow it to continue to adapt to business needs and the changing security landscape, giving Aware customers an advantage they can’t find anywhere. somewhere else.

To learn more about how AwareID can help your organization and how you can bring trusted technology deployed in over 20 countries, over 80 government agencies (including within 12 of the top 15 U.S. federal government departments) and 100+ business leaders at your company—visit Awareid.com.

About Conscious
Aware is a global authentication company that validates and secures identities using proven and trusted adaptive biometrics. Aware’s software and software-as-a-service offerings address the growing challenges government and commercial organizations face in knowing, authenticating, and securing people through seamless, highly secure user experiences. Aware’s algorithms are based on the world’s most diverse datasets and can be tailored to each customer’s unique security and requirements. The company empowers users to control identities with clear and intuitive opt-in/opt-out features, helping them feel secure and improving their lives. Aware is a public company (Nasdaq: AWRE) based in Burlington, Massachusetts. To learn more, visit https://www.aware.com or follow Aware on Twitter @AwareBiometrics.

Safe Harbor Warning
Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as the anticipated benefits and success of AwareID, and the growth of biometrics markets. Aware cautions you that there are factors that could cause actual results to differ materially from those indicated by such statements.

Risk factors relating to our business include, but are not limited to: (i) our results of operations can fluctuate significantly and are difficult to predict; (ii) we derive a significant portion of our revenue from government customers, and our business may be adversely affected by changes in the contractual or tax policies of such government entities; (iii) a significant commercial market for the biometric technology may not develop, and if it does, we may not be successful in that market; (iv) we derive a significant portion of our revenue from third party channel partners; (v) the biometrics market may not experience significant growth or our products, including AwareID, may not be widely accepted; (vi) we face intense competition from other providers of biometric solutions; (vii) our business is subject to rapid technological change; (viii) our software products may contain errors, defects or bugs that could adversely affect our business; (ix) our business may be adversely affected by our use of open source software; x) we rely on third-party software to develop and deliver our solutions and material defects in third-party software could harm our business; xi) part of our future business depends on market demand and acceptance of the cloud-based model for using software: xii) our operational systems and networks and our products may be subject to increasing risk of constantly changing cybersecurity or other technology risks that could result in the disclosure of confidential company or customer information, damage to our reputation, additional costs, regulatory penalties and financial loss; (xiii) our intellectual property is subject to limited protection; xiv) we may be sued by third parties for alleged infringement of their proprietary rights; xv) we must attract and retain key personnel; (xvii) our business may be affected by government regulations and adverse economic conditions; xviii) we may make acquisitions that could adversely affect our results; xix) we may have additional tax liabilities; and (xx) we believe that the effects caused by the COVID-19 pandemic could negatively impact our revenues in the coming quarters.

We refer you to the Aware filings from time to time with the Securities and Exchange Commission, in particular the section titled Risk Factors in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and other reports and documents filed with the Securities and Exchange Commission.

Higher claims, general insurers with low investment cost Sh1.49bn

0

Market News

Higher claims, general insurers with low investment cost Sh1.49bn


Medical and car insurance consistently emerged as the leading causes of claims in the industry. FILE PHOTO | NMG

General insurers recorded an underwriting loss of 1.49 billion shillings in the second quarter that ended in June, attributed to higher claims and lower investment income.

The loss widened from 1.46 billion shillings a year earlier, according to the latest report from the Insurance Regulatory Authority (IRA).

“General insurance business underwriting performance was a loss of 1.49 billion shillings, down from a loss of 1.46 billion shillings in the second quarter of 2021,” said the sector regulator.

“The workers’ compensation class had the highest underwriting profit of 1.45 billion shillings while the private motor and medical classes of the general insurance business suffered the highest underwriting losses of 2.44 billion shillings and 869.41 million shillings respectively.”

Medical and motor insurance have consistently emerged as the top causes of losses in the industry, a finding attributed to a combination of factors including fraud and price undercutting.

Gross premiums in the general insurance business rose 8.2% to Sh92.3 billion in the reporting period from Sh85.3 billion a year earlier.

Claims jumped 14.5% to 37 billion shillings while investment income fell 26.5% to 4.6 billion shillings.

The loss ratio in the general insurance sector worsened to 68.1% from 66.8%. The loss rate refers to the benefits paid to policyholders as a percentage of the premiums collected.

Along with higher claims and reduced investment income, general underwriters also suffered from an increase in direct expenses which jumped 7.4% to 18.8 billion shillings.

Insurers are among the institutional investors who have suffered losses on paper following the decline in share prices of listed companies.

Rising interest rates on new government bonds also reduce the value of fixed income securities that were previously issued at lower rates.

Insurers accelerated their exit from the stock market to reduce the impact of stock price fluctuations on their results and the value of their assets.

Policyholders, including those offering life cover, reduced their holdings of listed stocks to a new low of 2.8% of their portfolio in June, according to IRA data.

The companies held 25.26 billion shillings worth of listed shares in June this year, down 23.8% from a year earlier when assets were valued at 33.16 billion shillings .

→ [email protected]

US Sets New Record for Border Patrol Arrests: NPR

0

A migrant found smuggled in a vehicle is apprehended by US Border Patrol and the Webb County Sheriff on October 12 in Laredo, Texas.

Dinner Allison/AFP via Getty Images


hide caption

toggle caption

Dinner Allison/AFP via Getty Images


A migrant found smuggled in a vehicle is apprehended by US Border Patrol and the Webb County Sheriff on October 12 in Laredo, Texas.

Dinner Allison/AFP via Getty Images

U.S. Customs and Border Protection reported 2.3 million migrant arrests at the southern border in the past 12 months, surpassing the record set last year.

The annual total – which includes people who have been stopped at the border more than once – jumped 37% from 1.7 million the year before.

That’s not to say that 2022 saw the most people trying to enter the United States illegally. For example, the Department of Homeland Security estimates that there were nearly 4 million unauthorized border crossings in 2000, but only 1.6 million were counted. Over the years, immigration authorities have been able to track more migrants thanks to improved security technologies.

However, the year-end count is significant. Government data shows increasing numbers of cross-border commuters come from Venezuela, Cuba and Nicaragua and fewer come from northern Central America – signaling a new challenge for the Biden administration ahead of November’s midterm elections.

Due to strained diplomatic relations and costs, the United States has also faced the dilemma of not being able to return migrants to Venezuela, Cuba or Nicaragua.

“The possibility of returning them to these states is not rational. We are working with Mexico and other countries to stop the flow,” President Biden said in a statement. press conference last month.

Close to a trimester of all border encounters were with families, while 6% involved children encountered by Border Patrol agents without parents or guardians. The largest share of dating, nearly 70%, continued to be with single adults.

The agency’s 2022 fiscal year, which ended September 30, was also the deadliest 12 months for cross-border commuters. More … than 800 migrants died on the journey to attempt to enter the United States – drowning and heat exhaustion being among the leading causes of death, according to Border Patrol figures.

The Biden administration has said it wants to discourage migrants from making the dangerous journey.

Earlier this month, the Department of Homeland Security announced that it would begin sending Venezuelan migrants who have illegally crossed the US-Mexico border. in Mexico. The agency added that up to 24,000 Venezuelans will have the chance to live and work in the United States – if they can find a financial sponsor in the United States. fulfilling this requirement.

Chloe Pizzoferrato, Canton Municipal Schools

NAME – Chloe Pizzaferrato

SCHOOL – Worley Primary School

RESIDENCE – Canton

AGE – 11

PARENTS – Misty Sismore and John Pizzoferrato

BROTHERS AND SISTERS – None

SCHOOL ACTIVITIES – Art and Gym

NOMINATION – “Chloe is a hard worker who treats everyone kindly. She volunteers to help out and gives back to the community by volunteering her time on our student leadership team and after-school program.”

PLEASE TELL US WHY YOU PERFORMED THE ACT OF KINDNESS (above). – “I love helping others and seeing people smile.”

DO YOU HAVE A FAVORITE VIDEO GAME, BOOK OR TV SHOW? – TV show “Two Broke Girls”; book, “Middle School Get Me Out of Here,” by James Patterson.

WHAT DID YOU WANT TO BE WHEN YOU WERE GROWING UP? − “I want to be a children’s doctor when I grow up.”

IF YOU COULD CHANGE ONE THING AT SCHOOL, WHAT WOULD IT BE? − “School is a place where you learn, so I wouldn’t change a thing.”

IF YOU CAN HAVE ONE SUPERPOWER, WHAT WOULD IT BE AND HOW WILL YOU USE IT TO CHANGE THE WORLD? − “I wish I had enough money to help everyone in need get what they need.”

Worley Elementary School student Chloe Pizzoferrato, Township Depository's Synchrony Financial Character Kid for October.  Tuesday, October 18, 2022.
Worley Elementary School student Chloe Pizzoferrato, Township Depository's Synchrony Financial Character Kid for October.  Tuesday, October 18, 2022.

Other nominees

TOWNSHIP CITY

Worley Primary School

Chloe Pizzoferrato, sixth – Chloe is a hard worker who treats everyone kindly. She volunteers to help and gives back to the community by volunteering her time on our student leadership team.

A.I.M. Academy

Austin Daniels, fourth year – Austin Daniels exemplifies what it means to be a true student of character. Although he is on the quiet side and perhaps withdrawn, he enhances student learning and community within our classrooms. Austin is trustworthy, responsible, respectful and kind to everyone.

CANTONAL LOCAL

South Canton Secondary School

Ava Seitz, sixth – Ava brings a caring heart and positive attitude to every day and every situation. She is always ready to lend a hand and has an admirable work ethic.

Dane Steinmetz, sixth grade – Dane is dedicated to his learning and displays an impressive drive to acquire knowledge. He is kind, caring, and considerate of others.

UNFAIR LOCAL

Fairless College

Ila Warstler, seventh year – Ila is a go-getter. She has a smiling face and a strong willed attitude.

Hunter Miller, sixth year – Hunter is a studious young man who strives for excellence! He pushes himself to do better and be better academically and socially.

JACKSON LOCAL

Amherst Elementary School

Andersen Crittendon-Isles, fifth year – Andersen is a model of excellence in the classroom and in many other aspects of his life. His calm and peaceful personality often rubs off on everyone around him. It’s refreshing to be around Andersen throughout our school day at Amherst Elementary.

LOCAL LAKE

Lake Elementary School

Ellie Todd, sixth grade – Ellie Todd is a student who lives up to the definition of resilience. She has brought pride and strength to our district this year as she embraces her disability with her positivity and providing knowledge to our students. Ellie is truly a ray of sunshine to everyone she comes into contact with.

Jackson Hampshire, sixth grade – Jackson Hampshire is a strong leader at Lake Elementary because he represents our motto to be responsible, respectful and safe every day. He is involved in several clubs and activities while always standing up for what is right.

CITY OF LOUISVILLE

Louisville College

Ciara Catlos, seventh year – Ciara is so nice to everyone she sees. She greets everyone with a warm smile and kind words. His kindness is contagious!

Landon Dente, seventh year – Landon shows responsibility and respect in everything he does. He works hard and treats everyone with respect. His focus and determination help him succeed!

MARLINGTON LOCAL

Marlington High School

Cassandra Tarter, seventh year – Cassandra is a hardworking and talented student. She takes on challenges and consistently succeeds.

Connor Cole

Marlington Middle School, seventh grade – Connor makes the classroom around him a better place. He is hardworking, helpful and kind.

CITY OF MASSILLON

Massillon high school

Madison Kester, sixth grade – Madison Kester exemplifies what it means to have a strong character. Madison still sports a warm smile. Her polite demeanor and kindness are evident when working with her peers. Maddy comes to class every day with a great attitude. She helps those around her and answers questions about their math work, and does the same in ELA. She is a role model for all her peers. Madison is responsible and well organized for the class and does her best every day. For these reasons, Madison is a positive influence on her peers.

Trenton Kohl, sixth grade – Trenton Kohl shows daily what it means to be a Tiger. Trenton has a positive attitude every day, is eager to learn and works hard all the time. He doesn’t let others distract him and he always stays focused. Trenton knows and listens to expectations and exceeds them to meet them daily. He is an excellent student and a kind person. He definitely serves as a role model for others to follow.

NORTH TOWNSHIP CITY

North Township High School

Elle Tamulewicz, seventh year – She is one of our nicest and sweetest students at NCMS. She is always ready to help others and get involved in the school. She is a hardworking and creative student. She participates in clubs and theater within her school and community. Elle’s kind heart and big smile bring so much joy to those around her.

Ian Schenck, seventh year – Ian is a hard worker and a wonderful student. Ian has a good heart and is always ready to help his school and his community. Ian is involved in various clubs, music programs and theater programs in his school and community. One of Ian’s greatest traits is that he always has a smile on his face. He brings so much joy and laughter to others. Ian is a great example to others and an exceptional role model.

NORTHWEST LOCAL

Shelby Davidson, eighth grade – Shelby is an exceptional student. She is a member of the choir and recently landed the role of “Candy” in the college fall play. Shelby is also a member of the school’s Power of the Pen creative writing team. The eldest of two children, she hopes to one day attend university and major in the performing arts.

Austin Schenz – Austin’s positive approach to life and constant hard work make him a great example for other students. He hopes to golf for Northwest next year and one day attend college to become a zoologist. He loves his pet dog, Shadow, and says his favorite place with his family is the Kalahari.

OSNABOURG LOCAL

Eastern Township High School

Emily Furney, sixth grade – Emily comes to school every day with a positive attitude, confidence and a desire to learn. Her peers consider her a role model and a guide. Her leadership is unwavering and she shows strength and determination beyond her years. We are proud of his remarkable character and his influence with his classmates.

Xavier Gooch, sixth – Since the beginning of the school year, Xavier has tried and continues to strive to reach his potential in the classroom by putting in extra time or asking questions to better understand a new subject. Xavier is also a great classmate to his peers as he is willing to go out of his way to help others who might need extra support. He leads by example every day with his positive attitude and excellent work ethic.

Local perry

Edison College

Farren Stevens, seventh year – Farren is a polite and respectful student at Edison Middle School. She has a positive attitude and is always ready to help her peers and teachers. She is a great role model for others!

Watson Primary School

Jaiden White, fourth year “Jaiden has never met a stranger! He is full of personality and kind to everyone. We are so proud of Jaiden!

SAND VALLEY

Sandy Valley High School

Chloe Schoeppner, eighth grade – Chloe Schoeppner demonstrates good character on a daily basis by being respectful and kind. She excels academically and participates in various activities including drama, basketball, and football. When Chloe isn’t busy with school, she enjoys hobbies and crafts. If she could change one thing in the world, it would be that everyone would be nice to each other.

Camdyn Wigfield, eighth grade – Camdyn Wigfield shows good character in helping others and one of her strengths is her positive mindset, which also encourages others to think positively. His favorite activities include riding his side-by-side, four-wheelers and ATVs. If he could change one thing in the world, he would end world hunger. Camdyn is also a member of the cross country team. We are lucky to have him at SVMS!

ST. THOMAS AQUIN

Za’Sha Family Head – She is kind, responsible and respectful to her classmates and teachers. She is a leader for her class.

Luis Bonilla – He is respectful, a good friend and always engaged in school activities. He demonstrates leadership and responsibility.

Viridian presents positive clinical data from the ongoing VRDN-001 Phase 1/2 trial in patients with active thyroid eye disease (TED) in late-breaking presentations at the 91st Annual Meeting of the American Thyroid Association (ATA)

0

Viridian Therapeutics, Inc.

– Clinical and In Vitro Data Presented in Three Late-Breaking ATA Presentations Provide Emerging Evidence for the Efficacy and Differentiation of VRDN-001 –

– Full 10 mg/kg cohort data presented at ATA, 20 mg/kg and 3 mg/kg cohort data on track for 4Q22 –

– Pivotal Program for VRDN-001 in PDD Patients Expected to Start This Quarter –

WALTHAM, Mass., Oct. 22, 2022 (GLOBE NEWSWIRE) — Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biotechnology company developing new treatments for patients with serious diseases underserved by current therapies, has presented positive proof-of-concept data from the 10 mg/kg cohort in its ongoing Phase 1/2 clinical trial of VRDN-001, an anti-IGF-1R antibody, in patients with active thyroid eye disease (TED). These data, along with new in vitro data characterizing and further differentiating the pharmacological profile of VRDN-001, were included as part of three late-breaking poster presentations at the 91st Annual Meeting of the American Thyroid Association ( ATA). The abstract describing new in vitro data on the distinct anti-IGF-1R profile of VRDN-001 was also selected as a highlighted late-breaking oral presentation. The three posters are available on the Viridian website (click here).

“Patients with PDD would benefit from additional treatment options,” said Raymond Douglas, MD, Ph.D., director of the Orbital Eye and Thyroid Disease Program, Cedars-Sinai Medical Center and investigator in the VRDN- 001. “The rapid and nearly complete resolution of major signs and symptoms of PDD in the majority of patients at six weeks after two 10 mg/kg infusions of VRDN-001 in a cohort of patients with active PDD suggests VRDN-001, with a further study may provide an important new option for PDD patients.

ATA Poster #535: VRDN-001, a Full Insulin-Like Growth Factor Receptor (IGF-1R) Antagonist Antibody for Thyroid Eye Disease (TED): Phase 1/2 Proof of Concept in Affected Patients by TED

Poster #535 presents proof-of-concept data from the first cohort of patients with active TED treated in the ongoing Phase 1/2 clinical trial. In this cohort, a total of 8 patients were randomized to receive two infusions of a 10 mg/kg dose of VRDN-001 or placebo intravenously; 6 patients received VRDN-001 and 2 patients received a placebo. In patients receiving VRDN-001, a proptosis response was achieved by 83% of patients, with a mean reduction of 2.4 mm from baseline. A clinical activity score (CAS) of 0 or 1 was achieved by 83% of patients, with an average reduction of 4.3 points compared with inclusion. Complete resolution of diplopia was achieved by 75% of patients who presented with diplopia at baseline. VRDN-001 demonstrated a favorable safety and tolerability profile with no reported SAEs, no hyperglycemia, and no infusion reactions.

Poster #535 was authored by Shoaib Ugradar, UCLA Stein Eye Institute, Barrett Katz, Viridian Therapeutics, Denis O’Shaughnessy, Viridian Therapeutics, Rochelle Summerfelt, Viridian Therapeutics, Angela She, Viridian Therapeutics and Raymond Douglas, Cedars Sinai Medical Center.

ATA Poster #568: VRDN-001, a Potent and Selective Insulin-Like Growth Factor Receptor (IGF-1R) Antagonist Antibody for Thyroid Eye Disease (TED): Phase 1 Safety and Pharmacodynamic Results in Patients healthy volunteers

Poster #568 presents comprehensive safety and pharmacodynamics data from the complete portion in healthy volunteers of the ongoing Phase 1/2 trial of VRDN-001. A total of 13 subjects were randomized to receive two infusions of 3, 10 or 20 mg/kg dose of VRDN-001 or placebo. Twelve subjects completed the trial; one of the subjects in the 20 mg/kg group withdrew for personal reasons after the first infusion and was followed up to day 35.

Plasma levels of IGF-1, a biomarker of IGF-1R antagonism, increased five to seven times above baseline, indicating maximal target engagement at all doses. All doses studied were generally safe and well tolerated, with no cases of hearing impairment or treatment-related hyperglycaemia, and no infusion reactions.

Poster #568 was authored by Angela She, Barrett Katz, Rochelle Summerfelt, Denis O’Shaughnessy, Brent Dickinson, Kelly Foster, and Vahe Bedian of Viridian Therapeutics

ATA Poster #132: VRDN-001, a full insulin-like growth factor receptor (IGF-1R) antagonist antibody in development for thyroid eye disease (TED), binds to an epitope distinct from teprotumumab

Poster #132 presents preclinical data from in vitro studies with VRDN-001. The data show that VRDN-001 binds to the same region of IGF-1R as teprotumumab, but engages a distinct epitope. This difference in binding resulted in differences in functional effects: unlike the anti-IGF-1R antibody, teprotumumab, which incompletely antagonizes IGF-1R function, VRDN-001 completely antagonizes ligand binding, receptor autophosphorylation and downstream signaling.

These pharmacological differences may provide a mechanistic basis for the initial data reported from the ongoing VRDN-001 Phase 1/2 study, including pharmacodynamic responses in the cohort of healthy volunteers presented in Poster #568 and responses favorable clinical outcomes observed in PDD patients as presented in Poster #535.

Poster #132 was authored by Yang Zhao, Jordan Tsai, Rachel Newell, and Vahe Bedian of Viridian Therapeutics.

Next clinical steps for the ongoing VRDN-001 Phase 1/2 proof-of-concept trial

The Company remains on track to present additional updates from the VRDN-001 Phase 1/2 study this quarter. These updates will include core data from the 20 mg/kg cohort of the ongoing Phase 1/2 trial of VRDN-001 in TED, followed later this quarter by core data from the 3 mg/kg cohort. kg being recruited.

This ongoing trial is evaluating two infusions of VRDN-001, three weeks apart, with efficacy measured six weeks after the first dose. Each dose is evaluated in a cohort of eight patients, randomized so that six patients receive VRDN-001 and two patients receive placebo. The first cohort evaluated a dose of 10 mg/kg, with initial clinical data reported on August 15, 2022. The Company expects to launch the pivotal program for VRDN-001 by the end of 2022.

This quarter, the company will also release final pharmacokinetic and pharmacodynamic data from Viridian’s first-in-human trial of VRDN-002, an extended half-life IGF-1R antibody, which builds on recently reported interim results. The Company is awaiting data from a proof-of-concept trial of VRDN-002 administered subcutaneously in the second half of 2023.

About Viridian Therapeutics, Inc.

Viridian Therapeutics is a biotechnology company developing new treatments for patients with serious diseases underserved by current therapies. Viridian’s most advanced program, VRDN-001, is a differentiated monoclonal antibody targeting the insulin-like growth factor receptor (IGF-1R), a clinically and commercially validated target for the treatment of thyroid eye disease ( TED). VRDN-002 is a distinct anti-IGF-1R antibody and incorporates half-life extension technology. VRDN-003 is an extended half-life version of VRDN-001. Both VRDN-002 and VRDN-003 are designed to be administered as convenient, low-volume subcutaneous injections. PDD is a debilitating autoimmune disease that causes inflammation and fibrosis in the eye socket, which can lead to double vision, pain, and potential blindness. Viridian is based in Waltham, Massachusetts.

Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by the use of words such as, but not limited to, “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “could”, “plan”, “potential”, “predict”, “project” , “should”, “target”, “will”, or “would” or other similar words or expressions that relate to the expectations, plans and intentions of the Company. Forward-looking statements include, without limitation, statements regarding the expectations, strategies, plans and intentions of the Company. Forward-looking statements are neither historical facts nor guarantees of future performance. Instead, they are based on the Company’s beliefs, expectations and Company’s current assumptions New risks and uncertainties may arise from time to time. s to another and it is not possible to foresee all the risks and uncertainties. No representation or warranty (express or implied) is made as to the accuracy of these forward-looking statements. These forward-looking statements are subject to a number of important risks and uncertainties, including, but not limited to: the potential efficacy and safety of VRDN-001 and VRDN-002 or the treatment of TED; the timing, progress and plans of the Company’s current and future research and clinical development programs; expectations regarding the timing of data, including the expected timing of additional data from the ongoing Phase 1/2 clinical trial of VRDN-001 and the first-in-man Phase 1 clinical trial of VRDN-002, including including the risks set forth in the caption “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 11, 2022 and other subsequent disclosure documents filed with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither the Company nor its affiliates, advisors or representatives undertakes to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. ‘required. These forward-looking statements should not be taken to represent the views of the Company as of any date subsequent to the date hereof.

Contact with investors and the media:
John Jordan
Viridian therapy
Vice President, Investor Relations and Corporate Communications
617-272-4691
[email protected]

Rideshare customers in WA State will see higher fares in 2023

0

Uber and Lyft drivers will see their pay rise in 2023, thanks to new state-approved fares.

Uber and Lyft drivers will see their pay rise in 2023, thanks to new state-approved fares.

PA

Customers of ride-sharing programs in Washington will see higher fares starting next year.

The fare increase will help raise wages for Washington rideshare drivers for ride-hailing companies, such as those of Uber Technologies and Lyft. The increases are the result of state legislative action earlier this year that codified drivers as independent contractors.

House Bill 2076 also established new rights and protections, including minimum per-mile and per-minute rates, paid sick leave, and workers’ compensation coverage.

Bloomberg Law reported in March that the new law “reflects a compromise between ride-sharing companies, drivers and the Teamsters-affiliated drivers’ union — ensuring companies can classify drivers as independent contractors while requiring them to provide benefits traditionally reserved for employees.”

The state Department of Labor and Industries is responsible for enforcing the new requirements.

According to L&I, “On September 30 of each year, L&I will adjust these rates to reflect the rate of inflation.”

L&I recently released its final inflation-adjusted pay rates for drivers in 2023. In Seattle, those rates will be $1.50 per mile and 64 cents per minute, while Tacoma and the rest of the State will see $1.27 per mile and 37 cents per minute.

Wage Increases 2023_Tacoma.jpg
A graph showing the new pay rates in Tacoma for Uber/Lyft drivers starting January 1. Drivers’ Union

The drivers’ union was selected this month by L&I to manage the Driver Resource Center. The center builds on the work the union has undertaken at the Seattle Drivers Resolution Center, expanding support services statewide.

In Tacoma, the union said this week, “The new rates will mean 53% more pay per mile driven and a 279% increase for every minute driven.”

The new rates come into effect on January 1. More information is available online at The L&I website.

Debbie Cockrell has worked for The News Tribune since 2009. She reports on business and development, local and regional issues.

Record bond measures, higher education policy on state ballots

0

Arizona voters will decide next month whether to allow the state’s undocumented students to receive in-state tuition – one of three statewide measures on the ballot of November related to higher education.

The measurement of the poll, known as Proposition 308, is the result of years of grassroots organizing and supported by a broad coalition of business groups, politicians and immigration advocacy organizations. Arizona is one of 28 states that does not guarantee in-state tuition for undocumented students, although students who graduate from an Arizona high school and have lived in the state for three years are eligible for a separate tuition rate of 150%. the state rate. Undocumented students, including recipients of the Deferred Action for Childhood Arrivals program, are also not eligible for state financial aid in Arizona.

Proposition 308 would partially reverse a 2006 decision by voters to limit public benefits, including in-state tuition, to documented immigrants only.

Supporters say opening up in-state tuition and financial aid to undocumented students would remove barriers and strengthen the state’s workforce, the Arizona Mirror reported. About 2,000 Arizona high school graduates are undocumented each year, according to the Higher Education Immigration Portal, which tracks a series of data points related to DACA and undocumented students and other international students for inform policy makers and advocate for expanded access to higher education.

“For Arizona’s undocumented student population, this would be a huge step forward for their access to college opportunities,” said Tom Harnisch, vice president of government relations for the State Higher Education Executive Officers Association. “Colleges would certainly have access to more students, and they would be better able to meet the state’s workforce needs and better address equity gaps in the state. So there are a variety of ramifications on this ballot measure.

At the national level, there are 140 statewide ballot metrics in addition to hundreds of local issues that voters will weigh in on, but only a few would directly affect higher education. In addition to Arizona’s proposal, New Mexico wants voters to approve $207 million in general obligation bonds that would pay for 28 projects at 15 institutions. In the third measure, the University of Rhode Island wants voters to approve $100 million in bonds that would improve its Narragansett Bay campus. Voters in New Mexico and Rhode Island have already approved similar bond measures.

Harnisch said Arizona’s Proposition 308 is “the flagship ballot measure for higher education this year.”

Early polls show broad support for Proposition 308, The Arizona Republic reportedbut Harnisch said midterm election trends could present a challenge for supporters, given that turnout is typically lower and less diverse than presidential elections.

“We want them to work in Arizona, instead of going elsewhere. So obviously we want to keep the talent here. And these are kids who may have moved to the United States or Arizona when they were very young and had no control over it and attended high school here and graduated from high school,” said State Senator Sean Bowie. Told the Republic. “They are like other children. And we want to make sure those kids stay here.

Bowie, a Democrat, co-sponsored the legislation for the referendum.

Arizona State Senator Michelle Ugenti-Rita, a Republican, wrote in a Republic column that Proposition 308 “could further incentivize illegal entry into Arizona”.

“As an Arizona State Senator, making it easier for Arizonans to access higher education and enter the workforce is a top priority,” she wrote. “Proposition 308 has misplaced guidance. The place to decide whether an illegal citizen can receive in-state tuition is in Washington, DC, not on the Arizona ballot.

Somewhere else

Harnisch said other statewide ballot measures that aren’t directly tied to higher education could still affect state revenue and have “downstream consequences.” This includes a potential tax rate reduction in Colorado and a potential new income tax on Massachusetts millionaires, whose income would go to education and transportation.

One of the most innovative local ballot measures this year is the potential levy of a 0.2% sales tax in Fresno County to support California State University, Fresno. The tax would bring in about $36 million a year and $720 million over 20 years, San Joaquin Valley sunshine reported. Two-thirds of the revenue from the levy would go towards improving school improvement and scholarships, while one-third would go towards repairing and upgrading sports facilities, including the football stadium. Details of revenue allocation would be determined by a citizen oversight committee.

supporters say the tax would boost the local economy and is necessary because state funding is not sufficient to maintain the current facilities. Opponents criticize the use of the tax to fund sports projects, Sun reported. The ballot measure needs a majority of votes to pass.

A local builder helped develop the proposal and is one of the main backers, according to the Sun. The university cannot take a public position on the proposal.

The fresno bee editorial board recently approved the extent, saying it could help the university expand much-needed programs such as nursing and serve more students.

Billions of bonds on ballots

Bond measures make up the bulk of higher education-related ballot measures at the local level, analysis finds The Ballotpedia database local ballot issues.

If approved, the bond measures on the ballot would fund a range of capital projects totaling nearly $9 billion. The $5.3 billion request from the Los Angeles Community College District accounts for the bulk of that total.

The nine-college district with more than 200,000 students has borrowed more than $9 billion in bonds over the past two decades, but this year’s bond measure would be its biggest bond demand, the Los Angeles Times reported. The money would go towards replacing or renovating 45 buildings built before or during the 1970s, improving campus infrastructure and upgrading technology, among other projects.

“Measure LA would provide the funds needed to upgrade our aging infrastructure and outdated buildings across all of our nine colleges,” Chancellor Francisco Rodriguez said in a statement. information technology, which is so important to our future workforce, and helps us achieve our sustainability goals. It would be an investment in our community to meet the demands of an educated workforce in Los Angeles and improve the learning environment for our students.

The Los Angeles Times has approved the measurement.

According to Los Angeles Times.

“It’s an inappropriate time and essentially an irresponsible act on our part to continue this bond,” administrator Ernest Moreno told the newspaper.

The district has a history of mismanaging bond-funded projects, with some going over budget and requiring costly repairs, according to a Time investigation, but officials have been working to resolve these issues. A neighborhood survey conducted over the summer found that six out of 10 voters would support the bond measure. Fifty-five percent of voters must approve for the measure to pass.

Another important bond measure is on the ballot in Travis County, Texas. Austin Community College District seeks $770 million to build two new campuses and expand workforce development programs, KUT 90.5 reported. About 5% of the deposit would go towards support services such as on-campus childcare.

“This is a significant investment,” Chris Cervini, ACCD’s vice chancellor for community and public affairs, told NPR. “Thinking about what has happened during the pandemic over the past two and a half to three years, learning needs to be more responsive to the human needs of students.”

Back in California, Pasadena City College wants out $565 million in bonds to replace leaky roofs, remove unsafe buildings, upgrade technology, renovate buildings, and establish permanent satellite campuses in the area. The Cerritos Community College District $425 million This bond measure would finance similar projects, including the construction of several new buildings.

In Oregon, Portland Community College has a $450 million a bond measure on the ballot that would fund infrastructure and technology upgrades, the expansion of technical education, and the renovation of existing facilities.

In North Carolina, voters in Wake County will decide on a $353.2 million measure to support a range of projects at Wake Technical Community College, including an expansion of the college’s health sciences program and the creation of a new campus. Durham Technical Community College is seeking bond approval of $112.74 million to construct two new classroom buildings, complete repairs and renovations, and acquire land for future growth.

Truss faces clamor to resign amid UK government chaos

LONDON (AP) — British Prime Minister Liz Truss clung to power by a thread on Thursday, after a top cabinet minister quit her government amid a barrage of criticism and a vote in the House of Commons fell. descended into chaos and acrimony.

A botched economic plan unveiled by the government last month sparked financial turmoil and a political crisis that saw the replacement of Truss’ treasury chief, multiple policy reversals and a breakdown in discipline within the ruling Conservative Party.

Many Tories say Truss must step down – but she remained defiant, saying she is ‘a fighter not a quitter’.

Conservative lawmaker Simon Hoare said the government was in disarray.

“Nobody has a road map. It’s a kind of everyday hand-to-hand combat,” he told the BBC on Thursday. He said Truss had “about 12 hours” to turn things around.

The newspapers that usually support the Conservatives were vitriolic. An editorial in the Daily Mail headlined: “Wheels have come off Tory clown car”.

International Trade Secretary Anne-Marie Trevelyan, sent on the air Thursday morning to defend the government, insisted the administration was bringing “stability”. But she was unable to guarantee that Truss would lead the party in the next election.

“At the moment, I think it is,” she said.

With opinion polls giving Labor a large and growing lead, many Tories now believe their only hope of avoiding electoral oblivion is to replace Truss. But they are divided on how to get rid of her and there is no favorite to succeed her yet.

A national election is not due until 2024, and under Conservative Party rules, Truss is technically immune from a leadership challenge for a year. The rules can be changed if enough lawmakers want it. There is feverish speculation about how many lawmakers have already submitted letters calling for a vote of no confidence.

In a blow, Interior Minister Suella Braverman resigned on Wednesday after breaking the rules by sending an official document from her personal email account. She used her resignation letter to castigate Truss, saying she had “concerns about the direction of this government.”

“The business of government is about people accepting responsibility for their mistakes,” she said in a thinly veiled dig at Truss.

Braverman was replaced as home secretary, minister responsible for immigration and law and order, by former cabinet minister Grant Shapps. He is a prominent supporter of Rishi Sunak, the former Treasury chief defeated by Truss in the final round of the Tory leadership race.

Truss faced more unrest in Parliament on Wednesday night during a vote on fracking for shale gas – a practice Truss wants to resume despite opposition from many Tories.

With a large Conservative majority in parliament, an opposition call for a ban on fracking was easily defeated, but some lawmakers were furious that Conservative Party whips said the vote would be treated as a confidence motion, meaning that the government would fall if the motion passed.

There have been angry scenes in the House of Commons, with party whips accused of using heavy-handed tactics to win votes. Labor lawmaker Chris Bryant said he “saw members being physically abused…and bullied”. Tory officials denied there had been any abuse.

Rumors swirled that Tory Chief Whip Wendy Morton, who is responsible for party discipline, and her deputy had quit. Hours later, Truss’ office said the two remained at their posts.

The dramatic developments came days after Truss sacked its Treasury chief Kwasi Kwarteng on Friday after the economic package the pair unveiled on September 23 spooked financial markets and sparked an economic and political crisis.

The plan’s 45 billion pounds ($50 billion) of unfunded tax cuts have caused turbulence in financial markets, hammering the value of the pound and increasing the cost of borrowing for the British government. The Bank of England was forced to intervene to prevent the crisis from spreading to the wider economy and putting pension funds at risk.

On Monday, Kwarteng’s replacement, Treasury chief Jeremy Hunt, scrapped nearly all of Truss’ tax cuts, along with his flagship energy policy and pledge not to cut government spending. He said the government will need to save billions of pounds and there are “many tough decisions” to make before presenting a medium-term budget plan on October 31.

Addressing lawmakers for the first time since the U-turn, Truss apologized on Wednesday and admitted she had made mistakes during her six weeks in office, but insisted that by changing heading, she had “taken her responsibilities and made the right decisions in the interest of the economic stability of the country.

Opposition politicians shouted “Resign!” as she spoke in the House of Commons.

But she insisted: “I am a fighter and not a quitter”.

___

Follow AP’s coverage of UK politics at https://apnews.com/hub/liz-truss

These factors have the greatest impact on the effectiveness of influencer marketing

0

Search | UW News Blog

October 19, 2022

New research from the University of Washington examines how factors related to social media influencers, their posts, and their followers impact marketing success.

About 70% of people between the ages of 18 and 29 use Instagram, and it’s hard to spend a lot of time scrolling without coming across a sponsored post from an influencer. The same goes for just about any other social media platform.

A new study from the University of Washington examines the impact of factors related to influencers, their posts and their followers on marketing success. Social media influencers are usually digital creators who have built a large following due to their knowledge of specific topics, such as beauty products, food, or pets.

Recently published online and forthcoming in the Journal of Marketing, the study is one of the first to include cost data in its reviews of influencer marketing. Researchers found that if companies spent 1% more on influencer marketing, they would see an almost 0.5% increase in engagement. They also concluded that reallocating spending based on study insights could result in a 16.6% increase in engagement.

Engagement is how people respond to content online, such as liking, commenting, or reposting. For this study, the researchers prioritized the number of reposts because it represents a deep form of engagement where subscribers choose to share content with their own networks.

Robert Palmatier, co-author and professor of marketing at the UW Foster School of Business, said influencer marketing currently produces a higher return on investment, or ROI, than most other types of marketing.

“I predict that in the future a lot of marketing will be outsourced,” Palmatier said. “As a marketing manager, you will manage a portfolio of influencers, much like Nike manages a portfolio of celebrities.”

For this study, the researchers tested data obtained from Weibo, a microblogging website which is one of the largest social media platforms in China. The data consisted of 5,835 posts written by 2,412 influencers linked to 1,256 campaigns for 861 brands as of October 2018. The brand’s sponsors spanned 29 categories, including beauty products, e-commerce platforms and food and drink .

Researchers found that influencer originality, follower size, and sponsor visibility — brand prominence in a post — improve a post’s effectiveness, while posts that advertise new products decrease it. Followers are less likely to repost product launches due to the increased risk of vouching for something unknown to their networks.

Influencer activity rate, post-positivity level, and follower brand fit, or the extent to which an influencer’s follower interests match the sponsor, all produce effects in inverted U shape. It hurts engagement if influencers post too much, for example, but engagement also suffers if they post too little. This suggests that a balanced approach is most effective.

“If you don’t post, I’ll even forget who you are,” Palmatier said. “But if you overdo it, it kind of devalues ​​you. This is what we call an inverted U-shaped effect, which means that there is an optimal point of activity where something works best.

When it comes to brand fit, researchers found that companies should look for influencers with overlapping but not an exact match.

“If you only talk to the people most likely to buy your product, those people already know it,” Palmatier said. “Now if you’re going to people who fit the brand really well, they’ll never buy it because it’s just a bad fit. You want people who have some interest, but probably don’t know this product. “

Palmatier used Tiffany & Co. as an example of a brand that has successfully used influencer marketing. There was a time when the company struggled to acquire younger customers, he said, because it was mostly popular with longtime consumers.

“If you think about the marketing department at Tiffany, it was probably a group of people who knew their historical targets,” Palmatier said. “What they’ve done is spend a very small portion of their budget bringing in influencers, and those influencers have had returns many times greater than their own product managers.”

Influencers compete in the open market to increase their followers and engagement, Palmatier said, which is a major factor in their success.

“They had to be smart,” he said. “They had to find a niche. In other words, influencers win their following by understanding their audience very well. When I go to an influencer with my product, they’re going to create posts that resonate with their followers. Tiffany never figured out how to position her product for this group, but influencers were able to connect.

Another benefit of influencer marketing is micro-targeting, Palmatier said. Customers can self-segment on social media by following specific topics that interest them. For example, a person can follow hashtags related to Paris before a vacation.

“It’s crowdsource positioning,” Palmatier said. “You give a product to influencers and they will position it. People also see influencers as more authentic because mentally you feel like you’re “friends” with the people you follow on social media – even if you’ve never met them – so they seem more authentic. when positioning the product.”

Other co-authors were Fine F. Leung and Flora F. Gu from Hong Kong Polytechnic University; Yiwei Li from Lingnan University; and Jonathan Z. Zhang of Colorado State University.

The research was supported by the Direct Grant and Faculty Research Grant from Lingnan University.

For more information, contact Palmatier at [email protected].

Tag(s): Foster School of Business • Robert Palmatier


US$37 Billion: The Cost of Withdrawing Indonesia’s Coal Fleet | News | Eco-Enterprise

0

As the G20 summit of the 20 largest economies approaches, host country Indonesia is under pressure to launch a more aggressive decarbonization plan and reduce its use of coal.

As the world’s largest coal exporter and one of the biggest carbon emittersIndonesia’s role in achieving the global goal of net-zero emissions by 2050 to avoid catastrophic global warming is crucial, but the government is targeting 2060 to achieve net-zero emissions, a timeframe longer than what is necessary to meet global carbon targets.

According to a new study by TransitionZero, a financial analysis nonprofit, it would cost $37 billion to decommission Indonesia’s fleet of 118 coal-fired power plants, helping the Southeast Asian country cut its coal stockpile a decade ahead of schedule, by 2040, and align with global climate goals.

This would save 1.7 billion tons of carbon dioxide, equivalent to almost three years of annual carbon emissions in Indonesia.

Retiring coal-fired power plants would be cheaper than subsidizing coal, which Indonesia spent $10 billion on in a single year, according to last year’s figures, TransitionZero calculated.

Indonesia depends on subsidized coal for power generation and guarantees a fixed fee to power plant owners.

TransitionZero also estimated that coal retirement would be relatively cheap given that the country’s first carbon capture and storage (CCUS) project, BP’s Vorwata CCUS development, is expected to cost $3 billion.

Indonesia gets around 38% of its electricity from coal, which has been growth in the energy mix despite the government’s plan for a sharp reduction to 30% of all energy sources by 2025.

The volume of the country’s coal consumption is expected to increase, due to expected growth in future electricity demand economic growth, the Department of Energy said last year.

Indonesia is expected to announce a coal phase-out plan around the G20 summit in Bali next month, where energy transition will be a key theme.

TransitionZero analyst Jacqueline Tao told Eco-Business that the first retirement of a coal plant in Indonesia would be “the most difficult”, but once the first plant is closed, it will be easier to close some. others.

A “low hanging fruit” for retirement would be coal-fired power plants that serve the Java-Bali power grid, which produces about 50% more power than demand, Tao said.

Last week, the Indonesian national electricity company, PLN, which owns and operates all the transmission and distribution networks in the archipelago, said that aging coal plants and those without carbon capture facilities would be prioritized for retirement.

Speaking to Eco-Business at an event in Jakarta on Tuesday, Edi Srimulyanti, PLN’s director of retail and commerce, said coal withdrawal is a “long-term plan” for the utility. , and that any future energy capacity additions would focus on natural gas, a less polluting fossil fuel than coal.

Just transition?

Retirement from coal-fired power plants will have a cost for the 245 coal-fired power plant workers who operate each plant in Indonesia, which represents 1.3 jobs per megawatt (MW) in a coal-fired plant.

However, TransitionZero analysis suggests that two jobs are created per MW of solar power and five per MW of onshore wind power, which includes project construction and development, as well as ongoing operation and maintenance. .

“While not all coal-fired plant closures will be accompanied by renewable replacement plants, it is fair to say that decarbonizing the power sector will likely result in net job gains at the power plant level,” indicates the report.

Funding for coal retirement projects should include the re-employment and reskilling of former coal workers, the report notes.

Next month, Indonesia is set to be eligible for funding under the Just Energy Transition Partnership, an agreement struck by the European Union and others to help developing countries transition to clean energy during COP26 climate talks last year.

Markacy becomes the go-to agency for Scheid family wines

0

NEW YORK–(BUSINESS WIRE)–Markacya New York-based digital strategy and marketing firm, has become the go-to agency for the grape-to-glass wine business distributed globally Scheid family wines. Markacy’s work will focus on driving the growth of several of Scheid’s key brands and creating a unified digital marketing strategy for the Scheid organization.

“The wine industry is changing and customers are expecting more from the experience they receive when purchasing other products, where digital touchpoints, brand and community help provide product education and a way to have one-to-one communication with the brand. In the current three-tier wine distribution model, many customers do not have this one-to-one relationship with brands. Direct-to-consumer selling offers a new opportunity for the Scheid Family Wines and other wineries to cultivate customer relationships and grow their customer base and community,” said Tucker Mathesonco-founder of Markacy. “Our deep expertise in direct-to-consumer and fundraising marketing and our experience supporting existing wine brands with direct-to-consumer business models gives us a unique perspective to help Scheid Family Wines.”

Markacy’s expertise in direct-to-consumer and differentiated approach to delivering bottom line results was key in their selection to support Scheid’s digital marketing strategy. In addition, Markacy’s vast experience working in the food and beverage industry will inform its multi-channel integrated program to expand Scheid’s direct-to-consumer footprint and increase brand recognition and conversion.

Sylvia Bronson, CMO added: “What stood out to us at Markacy was their strategic finance-focused approach. It was clear that they would be a partner in helping us connect marketing investments to our P&L goals, and think through not only tactics, but also helping us define a holistic direct-to-consumer strategy.

About Markacy

Markacy is a digital strategy firm that helps brands launch, grow and evolve by developing and executing cross-channel strategies. Specializing in finance, media, strategic planning, creative and marketing operations, Markacy is headquartered in New York and has teams in several US cities. Learn more about Markacy.

About Scheid Family Wines

Scheid family wines is a family-owned winery founded in 1972. Based in Monterey County, California, Scheid is uniquely integrated to bring high-quality wines from its estates to market. certified sustainable vineyards and an innovative luxury cellar. Scheid’s winery and bottling operations are powered by 100% renewable wind energy generated by a 400ft tall wind turbine, which also provides power to many homes in the local community. Scheid family wines globally distributed wallet includes its eponymous brand Scheid Vineyards, Sunny with a Chance of Flowers, Metz Road, VDR (Very Dark Red), District 7, Ryder Estate, Stokes’ Ghost, Grandeur and HOXIE, an artisan dry wine vaporizer. Scheid Family Wines also produces many regionally distributed brands and distributes a portfolio of imported wines through its partnership with PH Imports.

MSA Safety Appoints Lee McChesney Executive Vice President and Chief Financial Officer

PITTSBURGH, October 17, 2022 /PRNewswire/ — MSA Safety (NYSE: MSA), the global leader in developing and manufacturing safety products that help protect people and facility infrastructure, today announced that Lee McChesney was named senior vice president and chief financial officer. Mr. McChesney previously served as Vice President, Corporate Finance and Chief Financial Officer for Stanley Black & Decker’s $12.8 billion business unit, Global Tools and Storage.

“We are thrilled to have Lee join our leadership team,” said Nich Vartanian, Chairman, President and CEO of MSA Safety. “Lee is a proven CFO with a proven track record of delivering exceptional results and creating value,” Mr. Vartanian said. “Coming from a Fortune 500 industrial manufacturing company that serves a number of markets common to MSA, I am confident that Lee will help strengthen our organization with his more than 20 years of financial leadership experience leading a great growth-oriented company,” says Mr. Vartanian.

Mr. McChesney joined The Stanley Works in 1999. Initially, he held a number of finance and business leadership positions including Business Unit Finance Director, Director of Financial Planning and Analysis of the company and the deployment of the Stanley Fulfillment System. During his career, Mr. McChesney has helped guide more than 40 acquisitions and integrations. He was also the head of financial integration for the merger of The Stanley Works and Black & Decker in 2010.

Following the merger, Mr. McChesney was appointed Chief Financial Officer of Global Tools & Storage, a company that more than doubled in size over the decade. In 2016, Mr. McChesney was named President, Hand Tools, Accessories and Storage, a $4 billion company which included the successful integration of Craftsman and Newell tools. In 2019, Mr. McChesney was appointed Chief Financial Officer for Global Tools and Storage and Corporate FP&A, and in 2021 assumed additional responsibility for Corporate Tax and Treasury.

Mr. McChesney also helped launch one of the Stanley Black & Decker’s biggest innovation showcases for its Craftsman brand following its acquisition. The full program represented more than $500 million of incremental innovation at improved margin levels. “In addition to his operations and financial experience, Lee understands the importance of innovation and how best to leverage it,” Mr. Vartanian said. “As we think about innovation at MSA, including our connected technology platforms and our recently launched MSA+ subscription service, I know Lee will bring our team valuable insights into how best to use these assets to generate greater value and market leadership.”

In his role at MSA, Mr. McChesney succeeds the interim chief financial officer Jonathan Buckwho will resume his duties as Chief Accounting Officer.

Mr. McChesney holds a bachelor’s degree in finance from the University of Connecticut. He also earned an MBA from the University of Massachusetts. In addition to his professional responsibilities, Mr. McChesney is actively involved with Junior Achievement of Central Maryland, member of its board of directors and member of its executive committee. He also sits on the Dean’s Advisory Cabinet for University of Connecticut Business school.

About MSA Security

Founded in 1914, MSA Safety Incorporated is the worldwide leader in the development, manufacture and supply of safety products that protect people and facility infrastructure. Many MSA products incorporate a combination of advanced electronics, mechanical systems, and materials to protect users from hazardous or life-threatening situations. The company’s full line of products are used by workers around the world in a wide range of markets, including the oil, gas and petrochemical industry, firefighters, the construction industry, mining and construction. ‘army. MSA’s main products include self-contained breathing apparatus, fixed gas and flame detection systems, portable gas detection instruments, industrial head protection products, helmets and protective clothing for firefighters and fall protection devices. With a 2021 turnover of $1.4 billion, MSA employs approximately 4,800 people worldwide. The company is headquartered north of Pittsburgh in Cranberry Township, Pennsylvania.and has manufacturing operations in United States, Europe, Asia and Latin America. With more than 40 international sites, MSA generates approximately half of its turnover outside North America. For more information, visit the MSA website at www.MSAsafety.com.

SOURCEMSA Security

Best States to Form an LLC – Forbes Advisor

0

As you can see, in the majority of cases, it’s best to start your LLC in your home state, even if your home state has higher fees or reporting requirements or higher taxes, or is less business-friendly than one of the “Best States to Form an LLC” finalists below.

2.Delaware

Best for: Global business friendliness, privacy

Delaware is well known for being the most business-friendly state. According to the Delaware Division of Corporations 2021 Annual Report, 66.8% of all Fortune 500 companies are incorporated in Delaware.

Some of the reasons given in the report for Delaware’s popularity for business registrations include:

The report notes that Delaware’s General Corporations Act is “widely regarded as the most advanced and flexible business formation law in the nation,” while the Court of Chancery is “a unique business court , centuries old, who wrote most of the cases of modern American societies. right.”

Delaware is also an “anonymous LLC” state, meaning it’s one of four states (Nevada, Wyoming, and New Mexico are the others) that offers LLC owners more privacy protections. solid.

But here’s why Delaware’s business-friendly environment isn’t a factor when it comes to forming an LLC, if Delaware isn’t your home state:

LLCs are not corporations. As you can see, these statistics and details clearly indicate the popularity of Delaware among businesses. But LLCs are not corporations. This means that the general companies law does not apply to limited liability companies. In fact, LLCs are covered under the state LLC law.

What about the benefits of the Court of Chancery? As Delaware’s annual report indicates, the Court of Chancery is well known for being supportive of case-related prosecution hearings. However, a lawsuit in which your LLC may be involved will only be heard in Delaware if the suit was brought in Delaware. If your LLC is not actually doing business in Delaware, the chances of this happening are unlikely.

Isn’t anonymity a good thing? While there are benefits to the enhanced privacy protections of the LLC in Delaware, that protection is not guaranteed. For example, you will still need to disclose your identity to banks to open an account for your LLC, as well as to the IRS.

Additionally, if you are operating your business in your home state, you will need to register your Delaware-formed LLC there as a foreign LLC, and chances are the filing will be public knowledge.

Of course, if you reside in Delaware or operate your business solely in Delaware, that would probably be the best state to form your LLC.

3.Wyoming

Best for: Low taxes, privacy

Wyoming does not tax income, whether personal or business, nor does it have a franchise tax. In fact, it ranks first in the Tax Foundation’s 2022 State Corporate Tax Climate Index.

Additionally, as mentioned above, Wyoming is one of four states with enhanced privacy protections for LLCs. It also allows you to appoint another person as your proxy, to vote on your behalf in matters requiring the consent of LLC members.

But here’s why Wyoming’s low taxes and privacy aren’t a factor when it comes to forming an LLC, if Wyoming isn’t your home state:

Isn’t Wyoming’s tax system advantageous for LLCs? Although the absence of income taxes or franchise taxes is beneficial for LLCs doing business in Wyoming, if you only form your corporation in Wyoming and do not do any activity, you will not benefit from any tax advantage. And even if you were doing business there, as well as in your home state or other states, only the income you earn in Wyoming would fall under Wyoming’s tax-free income tax system.

What about privacy protections? As with forming an LLC in Delaware, it is true that your LLC may enjoy more privacy protections in Wyoming, but you will only have those privacy protections on your Wyoming LLC registration.

Of course, if you reside in Wyoming or operate your business solely in Wyoming, that would probably be the best state to form your LLC.

4. Nevada

Best for: Low taxes, privacy

Nevada is another state that is on online lists of “best states to form LLCs.” Similar to Wyoming, the state does not impose any personal or corporate income taxes, nor does it levy franchise taxes, although it does have a gross receipts tax.

It is also one of the states that offers more privacy protections for LLCs. However, LLCs are required to file an annual list of members and managers in Nevada. Additionally, the state has higher filing fees compared to many other states.

But here’s why Nevada’s low-tax environment and privacy protections aren’t a factor when it comes to forming an LLC, if Nevada isn’t your home state:

About those low taxes. As is the case with Wyoming, Nevada’s low taxes won’t make much of a difference if your LLC also does business in other states, because any income your LLC earns in another state will be taxed under the state tax laws.

And those privacy protections? As in other states that offer privacy protections, only your LLC registration in Nevada has access to this protection. If you are doing business in another state, you will need to register your Nevada-formed LLC as a foreign LLC, which means your LLC information will most likely be in the public domain.

Of course, if you reside in Nevada or operate your business solely in Nevada, that would probably be the best state to form your LLC.

5. New Mexico

Best for: Lowest fees, no annual report requirements, confidentiality

New Mexico offers a trio of advantages:

  • Lowest LLC filing fees (with Arizona and Mississippi)
  • No annual reporting requirement
  • Enhanced Privacy Protections

But here’s why this trio of benefits offered by New Mexico isn’t a factor when it comes to forming an LLC, if New Mexico isn’t your home state:

Low application fees and no reporting requirements are great, but… Despite the benefits you get from setting up your LLC in New Mexico, it’s still only beneficial to register your LLC there if it’s your home state or if you only do business. in New Mexico. Otherwise, you still need to pay the initial filing fee and hire a New Mexico registered agent.

And privacy? Everything we’ve said about privacy protections in Delaware, Wyoming, and Nevada also applies to New Mexico.

Of course, if you reside in New Mexico or operate your business solely in New Mexico, that would probably be the best state to form your LLC.

Conclusion

Starting an LLC in your home state is generally less of a hassle and more profitable than setting up your LLC in another state because you don’t have to manage two sets of LLC registrations. But if you’re not sure which state is best for your LLC, consult an experienced business attorney who can help you make the right choice.

Start an Online Limited Liability Company Today with ZenBusiness

Click to start.

Australian research finds cost-effective way to recycle solar panels | Recycling

0

New research has proposed a cost-effective way to recycle solar panels to help manage a growing volume of retired photovoltaic (PV) cells expected by the end of the decade.

In a paper published by a team from the University of New South Wales last week, researchers described a process for collecting and extracting valuable materials from solar panels to see if it was technically, economically and environmentally feasible.

The process involves collecting the solar panels, stripping them of their aluminum frames, shredding the cells and using electrostatic separation to collect valuable materials including silver and copper, reducing the panels to 2-3 % of their original weight.

The recovered material would then be shipped directly to a refinery for purification and processing.

Dr. Pablo Dias, lead author of the study, said it was possible to run a low-volume installation capable of handling 1,000 tonnes of solar panels per year. This equates to roughly 50,000 panels per year, or about 4,100 panels per month.

“It’s something someone can recover somewhere else, it doesn’t use any chemicals, it doesn’t emit any pollution or dangerous pollution. It produces dust crushing the panels, but you have dust collectors there,” Dias said.

Currently, Australia has very little capacity to process and recycle solar panels when they reach the end of their lifespan. This is an increasingly pressing issue, as the high adoption of rooftop solar and proposals for large-scale solar farms mean that an increasing number of panels will reach the end of their lifespan. life.

A 2016 report by the International Renewable Energy Agency (Irena) found that early, large-scale users of solar PV can expect the greatest waste volumes from older systems.

Australia is expected to generate 145,000 tonnes per year of solar PV waste by 2030, with the US expecting 1 million tonnes per year and China 1.5 million tonnes.

Dias said smaller-scale facilities are important because they can process materials closer to their source before sending them, reducing emissions from transportation.

“You can do it in a suburb in South Australia, concentrate the valuable material and then send it directly to refiners who extract and purify the metals,” he said.

He has since also decided to put the research into practice through a start-up, Solarcycle, which is building a facility in Texas in the United States. It should be operational in November.

Professor Peter Majewski, from the Future Industries Institute at the University of South Australia, who was not involved in the research, said it made “absolute sense” but cautioned against a one-size-fits-all approach.

“There is a need to develop a robust recycling technology and industry in this space, because we are just going to face a huge amount of solar panels,” Majewski said.

“It’s worth looking at all the different scenarios at the moment – we need to develop different ways to recycle.”

Majewski said while thinking about how to deal with end-of-life solar panels was needed, it was a “solvable problem” that could be solved with a stewardship program that clarified who was responsible. and the rules for getting rid of it.

“With solar panels and wind, trash is often highlighted as this issue in a way that other discussions aren’t,” Majewski said. “Many technologies produce waste. We can handle it. It is a question of legislation and technology.

Grayscale BTC Trust is trading at a record discount of 36.7%, but is it justified?

0

U.S. Investors Await Bitcoin Exchange-Traded Fund (ETF) Approval Since May 2014 when the Winklevoss Bitcoin Trust filed an amendment request with the Securities and Exchange (SEC).

Over the years, the SEC has rejected every applicant, and the latest rejection was issued at WisdomTree’s request for a spot Bitcoin ETF on October 11. The SEC concluded that the offering lacked the ability “to obtain the information necessary to detect, investigate, and deter fraud and market manipulation, as well as violations of foreign exchange rules and federal laws and regulations. applicable to securities.

Bitcoin investment trust vehicles have been around since 2013, but they are restricted to accredited investors. Launching a spot BTC ETF would open the market to retail investors and a wider range of mutual funds in the industry.

At the moment, US regulators are reluctant to release what many believe is a fairer and more transparent product for Bitcoin. A conflicting reality is that while BTC spot ETFs continue to be rejected, the same product has long been available for bonds, global currencies, gold, Chinese stocks, real estate, oil and gas. ‘silver.

The Grayscale Bitcoin Trust Fund (GBTC), a US$12.3 billion investment fund, is currently trading at a record 36.7% discount to its Bitcoin holdings, but this may not be the case. – not be of a purchase type discount. The gap started after the Toronto Stock Exchange launched the Purpose Bitcoin ETF in February 2021, which is a cash investment product.

What is an Exchange Traded Fund?

An ETF is a type of security that holds diversified underlying investments, including commodities, stocks or bonds. The ETF might look like a mutual fund because it is pooled and managed by its issuer.

SPY, the ETF that tracks the S&P 500 index, is the most recognizable example of the instrument. The mutual fund is currently managed by State Street and has $328 billion in assets under management.

More exotic structures are also available, such as the ProShares UltraShort Bloomberg Crude Oil (SCO). This fund uses derivatives and aims to offer twice the daily short leverage on oil prices, meaning that investors are effectively betting on falling oil prices.

Buying an ETF gives the investor direct ownership of its contents, creating different tax events compared to holding futures contracts and leveraged positions.

Trust funds, like GBTC, do not offer redemption or conversion rights

Investment trust funds are not under the authority of the SEC and are in fact regulated by the United States Office of the Comptroller of the Currency.

Grayscale’s GBTC is the absolute leader in the cryptocurrency market, even though it was structured as a business, at least in regulatory form. The investment trust is considered a closed-end fund, which means the number of shares available is limited.

Therefore, GBTC shares are not freely created and do not offer a buyback program. This inefficiency creates significant price deviations from the fund’s underlying bitcoin holdings. In contrast, an ETF allows the market maker to create and redeem shares, ensuring that the premium or discount is minimal most of the time.

For example, Purpose Bitcoin ETF (BTCC.U) held a net asset value of $3.59 per share on October 13, and shares closed at $3.60 on the Toronto Stock Exchange. Similarly, the underlying price of US derivatives ProShares Bitcoin Strategy ETF (BITO) was $11.94 on October 13, while its shares were trading at $11.95.

Related: Grayscale Launches First Salvo in Case Against SEC Over Bitcoin ETF Denial

Grayscale battles SEC, but results could take years

In June 2022, asset manager Grayscale filed a lawsuit with the SEC regarding the conversion of GBTC to a spot Bitcoin ETF. The firm has been awaiting a final decision from the regulator since filing its application in October 2021.

Grayscale’s senior legal strategist said the SEC’s rejection was “arbitrary” by “not applying consistent treatment to similar investment vehicles.” As a result, the asset manager filed a lawsuit based on the SEC’s alleged violation of the Administrative Procedure Act and the Securities Exchange Act.

It should be noted that eight and a half years have passed since the submission of the first Bitcoin spot ETF ledger application. Currently, GBTC charges a flat 2% annual administration fee, so the 36.7% discount might be justified given that the SEC continues to reject appeals and requests from every fund manager. .

Essentially, the investment trust product is far less optimal than an ETF, and so far Grayscale has done little to minimize the impact on GBTC holders.

The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

In a sign that she might change her stance on taxes, UK’s Truss fires her finance minister: NPR

British Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng visit a building site in Birmingham earlier this month. The two men met this morning on financial policy.

Stefan Rousseau/WPA Pool/Getty Images


hide caption

toggle caption

Stefan Rousseau/WPA Pool/Getty Images


British Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng visit a building site in Birmingham earlier this month. The two men met this morning on financial policy.

Stefan Rousseau/WPA Pool/Getty Images

LONDON – UK Finance Minister Kwasi Kwarteng has been forced out of office just hours after returning to London from meetings in Washington, DC

Downing Street said British Prime Minister Liz Truss would make a public statement on Friday afternoon, aimed at calming financial markets and members of her own Conservative party on her new government’s commitment to fiscal responsibility.

Truss has sought to turn the tide to some extent by reversing a planned tax cut for Britain’s highest earners, but has faced sustained pressure to reverse more of his planned measures, amid criticism from his own party lawmakers, political opponents, international economists and investors who continued to divest from British assets.

In a sign of widespread concern within his administration about the need to rethink the economic strategy of major tax cuts — one of the major elements of his leadership campaign this summer — Kwarteng left Washington, D.C., early. Thursday evening, where he had been meeting with international counterparts as part of a meeting of the International Monetary Fund.

He and Truss held urgent talks in Downing Street shortly after he returned to London.

“When you asked me to be your Chancellor, I did so knowing full well that the situation we faced was incredibly difficult, with global interest rates and energy prices rising.” , Kwarteng said in his resignation letter. “However, your view of optimism, growth and change was right.”

During the morning, as financial market participants grew confident that Truss would take action, confidence appeared to return in the form of purchases of UK government debt, which had the effect of lowering the cost of government loan.

Prior to her public address, Truss’s office and her supporters had repeatedly said that she would not change her broader approach to reviving economic growth, and that she and Kwarteng had continued to work together toward a common goal.

Koios Provides MCTO Status Update

0

DENVER, Oct. 13, 2022 (GLOBE NEWSWIRE) — Koios Beverage Corp. (CSE: FIT; OTC: FITSF) (the “Company” or “Kioos”) provides this update on the status of a management cease trade order granted on September 29, 2022 (the “MCTO”) by the British Columbia Securities Commission under the National Policy 12-203 – Management Cease Trade Order (“NP 12-203”). On September 29, 2022, the Company announced that, for the reasons disclosed in the press release, there would be a delay in filing its financial statements and related MD&A for the fiscal year ended May 31, 2022 (the “Annual Report Filings”) beyond the time period required by applicable Canadian securities laws (the “Notice of Default”).

The Company reports that the audit is progressing and will provide a further update on the timing of its annual filings on or about October 28, 2022. The Company is also progressing with the completion of its interim financial statements and MD&A. accompanies for the first quarter ended August 31, 2022, and will provide a further update no later than October 28, 2022. Further updates on the schedule will be provided by the Company as needed.

During the MCTO, the general investing public will continue to be able to trade the Company’s publicly traded common stock. However, the CEO and CFO of the Company will not be able to trade in the common shares of the Company.

Except as disclosed in this press release, there are no material changes to the information contained in the Default Announcement. The Company confirms that it intends to comply with the provisions of IG 12-203 and that it will continue to issue default status reports every two weeks as long as it remains in default of the annual filing requirement.

On behalf of the Company’s Board of Directors,

KOIOS BEVERAGE CORP.

“Chris Miller”

Chris Miller, CEO, Interim CFO and Director

For more information, please contact:

Gina Burrus
844-255-6467
[email protected]

THE CANADIAN SECURITY EXCHANGE (CSE) HAS NOT REVIEWED AND ACCEPTS NO RESPONSIBILITY FOR THE ACCURACY OR SUITABILITY OF THIS RELEASE.

About Koios Beverage Corp.

The Company is an emerging functional beverage company that has a distribution network of over 4,400 outlets in the United States to sell its products. Koios has relationships with some of the largest and most reputable distributors in the United States, including Europa Sports, Muscle Foods USA, KeHE and Wishing-U-Well. Koios uses a proprietary blend of nootropics and natural organic compounds to enhance human productivity without the use of harmful chemicals or stimulants. Koios products have been shown to improve focus, mental capacity, memory retention, cognitive function, alertness, brain capacity and create all-day mental clarity. Its ingredients are specifically designed to target brain function by increasing blood flow, oxygen levels, and neural connections in the brain.

Koios produces one of the only beverages in the world infused with MCT oil. MCT Oil is derived from coconuts and has been shown to help the body burn fat more efficiently, create sustained energy from a natural food source, produce ketones in the brain, enabling better brain function and clarity, supporting the production of healthy hormones and improving immunity. . For more information, please visit our website: https://www.koiosbeveragecorp.com.

Forward-looking statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Often, but not always, forward-looking information and information can be identified by the use of words such as “anticipates”, “expects” or “does not expect”, “is expected”, “estimates”. , “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or states that certain actions, events or results “may”, “could”, “would”, “could” or “will” be taken, occur or be carried out. Forward-looking information in this press release includes statements regarding the Company’s intention to issue the Bonus Warrants and the expiration of the hold periods applicable to the securities issued pursuant to the private placement. Forward-looking information reflects management’s current expectations based on information currently available and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in the preparation of the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur within the time periods stated or not. at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes in the growth and size of functional beverage markets; and (iii) other factors beyond the Company’s control. The Company operates in a rapidly changing environment. New risk factors emerge from time to time, and it is impossible for the management of the Company to predict all risk factors, nor can the Company assess the impact of all factors on the business of the Company. Company or the extent to which any factor, or combination of factors, could cause actual results to differ from those contained in the forward-looking information. The forward-looking information included in this press release is made as of the date of this press release, and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. , except as required by applicable law.

The statements in this press release have not been evaluated by Health Canada or the United States Food and Drug Administration. As each individual is different, the benefits, if any, of taking the Company’s products will vary from person to person. No claim or warranty can be made as to the effects of the Company’s products on the health and well-being of any individual. The Company’s products are not intended to diagnose, treat, cure or prevent any disease.

This press release may contain brand names of third-party entities (or their respective offerings with brand names) generally in reference to (i) Koios’ relationship with such third-party entities as referenced in this release and/or ( (ii) the customer/supplier/service provider parties whose relationship with Koios is/are mentioned in this release. All rights in these marks are reserved by their respective owners or licensees.

Contact information:
Gina Burrus
vice-president
[email protected]

This content was posted through the press release distribution service on Newswire.com.

In Russia, the elite counts the destructive cost of war as Putin intensifies

0

When Vladimir Putin this week launched missile strikes targeting Ukrainian cities and critical infrastructure, the move appeared to earn the Russian president a reprieve from hardliners who were calling for more decisive action.

“Run, Zelensky, run,” cheered Ramzan Kadyrov, the Chechen leader who sent militias to Ukraine to fight in the war, referring to the Ukrainian president. Kadyrov said he was “100% satisfied” with the conduct of the war after weeks of castigating Russian military leaders during recent disastrous retreats.

But some senior Russian officials and members of the business elite are burnt out and depressed – and the political and economic climate is expected to worsen. While Putin’s military escalation was partly aimed at ending the seething unrest over war mismanagement, its impact may only be temporary, several officials and business executives said in interviews.

“On the battlefield there are other problems,” said an influential Moscow businessman who, like other people interviewed for this report, spoke on condition of anonymity due to fears for his personal safety. “I don’t think it will build up the pressure,” referring to the missile strikes.

In addition, business leaders and officials said that while the strikes succeeded in further damaging Ukraine’s power and energy grids, with the fighting dragging on into the freezing winter, one wonders how many missiles Russia has left and how long it can sustain a bombing campaign. The missiles “are in production. But in individual units. And the old reserves are running out,” a state official said.

The new Russian commander in Ukraine was decorated after the brutality in Syria

Since the Ukrainian military began retaking swaths of territory in southern and eastern Ukraine, Putin has scrambled, forced to send in hundreds of thousands of barely trained reservists to try to fortify the depleted Russian army – a move that sparked protests across Russia and sent at least 300,000 Russian men fleeing across the country’s borders to avoid conscription.

As signs of discord within Putin’s inner circle began to surface, Saturday’s humiliating attack on the Kremlin’s prized Kerch Bridge to Crimea seemed like the final straw.

“No one is happy with the status quo,” the Russian state official said. “It is clear that a military or political victory will not be possible. But a loss is not possible either. This turns into a chess situation known as a zugzwang, where each step is worse than the next and yet it’s impossible not to move.

The optimism of the summer when, according to a second state official, many in the country’s elite believed “we’re going to turn it all around and find a way” has completely evaporated. “People see there is no future,” he said.

The forced mobilization has already dealt a blow to Putin’s popularity, one of the main foundations of his legitimacy as president, and when the corpses of reservists start returning from the front, the situation could worsen, said the businessman from Moscow.

“In a few months there will be a very negative dynamic in Russia: a worsening mood in society,” he said. “It all depends on the front.”

“Putin’s arsenal of possible actions is very limited,” said Sergei Aleksashenko, a former deputy governor of Russia’s Central Bank who now lives in exile in the United States. “In addition to hitting civilian infrastructure, he only has the ability to use a tactical nuclear weapon. If the Ukrainian counterattack continues, the question of what more to do remains with Putin.

Russia’s annexation puts world ‘two or three steps’ from nuclear war

But few in Moscow say Putin will resort to deploying a tactical nuclear strike, despite Kremlin statements, the Moscow businessman said, because “then he’ll be out of cards,” while China could block this kind of escalation. “It’s a Pandora’s box [the Chinese] don’t want to open,” he said.

Saudi Arabia’s support for oil production cuts this winter appears to have emboldened the Russian president, said the same Moscow executive, who maintains contacts with politicians. Even if energy prices remain at the same level, Putin “believes that Europe will be in crisis and will not have time for Ukraine”.

“It is always a war of attrition, until one side is no longer able to continue the war,” he said.

Gazprom chief executive Alexei Miller warned on Wednesday that ‘whole cities’ in Europe could freeze over and said there was no guarantee Europe could survive the winter at current levels of reserves. gas.

Economists and business leaders say sanctions are starting to hit the Russian economy harder, with budget cuts already imposed – while a proposed price cap collected by the Group of Seven Nations on Russian oil sales from December would be a further blow. The Russian president “will run out of cash…He needs cash to pay Iran and North Korea for arms. But we will see in December a completely new reality,” said Sergei Guriev, the provost of Sciences Po University in Paris.

As tougher sanctions are expected, every bad news on the front lines is another blow to the Russian economy, said a second member of Moscow’s business elite.

“All businesses are suffering from what is happening. Everyone froze their investment plans,” he said. Previous beliefs that Russia could redirect trade flows from the West to China, Kazakhstan and India are rapidly fading, two of the business executives said. Kazakhstan began to block shipments carrying European goods to Russia, while the Chinese also began to stop some supplies.

“Everyone is completely frustrated. The mood is very bad,” said a third Russian businessman.

Members of Moscow’s elite are beginning to talk about a potential leadership change in a way they have never done before in more than 20 years of Putin’s rule – although no one can say how or when it could happen.

“We started to enter a revolutionary situation,” the first state official said. “Everyone is waiting for something different than what is happening now: a different direction, a different war. Hawks want tougher action. Doves don’t want war at all. The time for a change of political system is coming of age. But how it’s going to be, I don’t know.

Vitru Announces Record Date of Rights Offering | New

0

FLORIANÓPOLIS, Brazil, Oct. 11, 2022 (GLOBE NEWSWIRE) — Vitru Limited (Nasdaq: VTRU) (“Vitru” or the “Company”) announced today that the record date for determining which shareholders will receive subscription under its proposed rights offering will take place on October 21, 2022.

The final terms of any potential offering of Common Shares and Rights, including specific terms, remain subject to change and will be determined at the time of such offering. The proposed rights offering would be made pursuant to Vitru’s effective registration statement on Form F-3 filed with the Securities and Exchange Commission on October 25, 2021 and only by means of a prospectus supplement and the accompanying prospectus. ‘accompanied.

This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe or to purchase or an invitation to buy or subscribe for securities in any jurisdiction, and it does not nor will there be any sale, issue or transfer of securities in any jurisdiction in violation of applicable law. No offer of securities will be made except by means of a prospectus satisfying the requirements of Section 10 of the Securities Act of 1933, as amended.

About Vitru

Vitru is the leading pure distance education group in the post-secondary distance education market in Brazil. Through its invested companies, Vitru provides a comprehensive educational ecosystem focused on hybrid distance learning experience for undergraduates and continuing education students.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the United States federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate”, “believe”, “continue”, “expect”, “estimate”, “intend to ”, “project” and similar and future expressions or conditional verbs such as “will”, “would”, “should”, “could”, “could”, “may”, “may”, or similar expressions are generally intended to identify forward-looking statements. These forward-looking statements speak only as of the date hereof and are based on Vitru’s current plans, estimates of future events, expectations and trends that affect or may affect our business, financial condition, results of operations, our cash flows, liquidity, prospects and the market price of Vitru’s common stock and are subject to a number of known and unknown risks and uncertainties, many of which are beyond Vitru’s control. Accordingly, current plans, anticipated actions, financial condition and future results of operations may differ materially from those expressed in the forward-looking statements in this press release. You are cautioned not to place undue reliance on these forward-looking statements when evaluating the information presented. Vitru undertakes no obligation to publicly update or revise any forward-looking statements after the issuance of this press release as a result of new information, future events or other factors.

Contact Carlos Henrique Boquimpani de Freitas, Chief Financial and Investor Relations Officer Maria Carolina F. Gonçalves email: [email protected] website: https://investors.vitru.com.br/

Copyright 2022 GlobeNewswire, Inc.

Bill Atkinson interviews Paul Kappel, CEO of JA Central Maryland and Tom Sadowski, Executive Director of MEDCO

On Wednesday, more than 100 business leaders, government officials and students will gather at Junior Achievement (JA) of Central Marylandof its new head office in Halethorpe to celebrate the grand opening of its new Youth Workforce and Innovation Centre.

Attendees will tour the facility’s 30,000 square feet of unparalleled interactive learning space, designed for early workforce development. This real-world facility allows elementary, middle and high school students to engage in JA’s proven Capstone program, teaching them the skills to be competitive in the workplace, how to be financially responsible and create businesses.

The space will also provide versatile opportunities to support additional community programs and bring business and education leaders together, bridging talent development initiatives from K-12, post-secondary and colleges. adults. The institution aims to serve more than 40,000 students a year, as well as thousands of parents and community volunteers, educators and business leaders.

The opening of this new facility comes at a time when Maryland’s workforce development challenges are significant. Research shows that high school student engagement in the classroom is only 40%. Not surprisingly, only 11% of business leaders believe graduates have the skills and competencies needed to enter the job market. Moreover, Baltimore college students born into poverty have only a one in ten chance of reaching the top fifth percentile of income.

Thanks to this new initiative, Junior Achievement will be able to extend its proven impact. Compared to the general population, JA students obtain employment at a higher rate while earning 20% ​​more. JA alumni are also 2.5 times more likely to start a business, are 30% more likely to have a college degree (and 67% more likely to have an advanced degree), and ultimately to be better off than their parents.

President and CEO of JA Central Maryland, Paul Kappel Jr. and J. Thomas SadowskiExecutive Director, Maryland Economic Development Corporation (MEDCO), sat down with City Biz to discuss the potential of the Youth Workforce and Innovation Center and what it will mean for students, teachers and businesses in the region.

Interview Questions:

Paul: Tell us about the Youth Workforce and the Center for Innovation. What is that? What will he do? How many students will go there each year? What are some of the programs?

To M: What are some of the issues you see in our region and how is JA addressing them? What challenges do students face? And who needs to be involved for these experiments to succeed?

Paul: Where does JA come in?

To M: From your perspective, why is the Youth Workforce and Innovation Center important and how will local employers and government agencies benefit?

To M: Why is it so important to create a pipeline to business and industry? I understand that in cyber there are jobs available for 25,000 people. Does JA provide solutions?

Paul: Does JA fill the pipeline?

Paul: Many people have heard of Junior Achievement, but what programs does JA offer and why should educators, elected officials and local business leaders care?

To M: How to break the noise? Kids want to be TikTok sensations or play professional sports but the percentages are tiny? How to change your mindset?

To M: You have been president of JA for about five years. Why? Do you see it changing lives?

Paul: Which schools are involved in JA and how many students are engaged in JA programs each year?

To M: Which companies are involved in JA? Are they putting skin in the game?

Paul: Where do you see Junior Achievement in five years? What kind of impact can the organization have in the Baltimore area?

Connect with Tom and Paul on LinkedIn

Bill Atkinson launched Atkinson Strategic Communications in January 2020 after 15 years in the public relations industry and 21 years as a journalist. Its customers include Coca-Cola Consolidated, the nation’s largest bottler of Coca-Cola products, the American Beverage Association, Howard Bank, Ambu, a Danish medical device manufacturer with US headquarters in Columbia, Maryland, and Think Systems, a Baltimore-based management consulting firm.

Prior to starting his own company, Atkinson was a partner at 212 Communications, which he joined in June 2015, and focused on strategic and crisis communications, media relations and local strategies. Prior to that, he was senior vice president of global public relations agency Weber Shandwick. At Weber’s Baltimore office, Atkinson specialized in strategic and crisis communications as well as reputation management. Clients included Constellation Energy, Honeywell, General Motors, Bank of America, Promontory Financial Group and 1st Mariner Bank.

Maryland Central Junior Achievement is part of the largest organization dedicated to inspiring and preparing young people to succeed in a global economy. Through a network of dedicated volunteers, JACMD delivers hands-on programs that show more than 30,000 K-12 students each year the realities of how careers, money, and business ownership work. JA experiences have been proven to give students an edge in college completion, career readiness, earning potential, and business start-up. For more information, visit JAMaryland.org.


Edwin Warfield, CEO of citybizlist, conducts CEO interviews.

If you are interested in an interview with the CEO of citybiz, please contact
Edwin Warfield – [email protected]

A Note on Black Hills Corporation’s (NYSE:BKH) ROE and Debt to Equity

0

While some investors are already familiar with financial metrics (hat trick), this article is for those who want to learn more about return on equity (ROE) and why it matters. To keep the lesson grounded in practicality, we’ll use ROE to better understand Black Hills Corporation (NYSE: BKH).

Return on equity or ROE is an important factor for a shareholder to consider as it tells them how much of their capital is being reinvested. In other words, it reveals the company’s success in turning shareholders’ investments into profits.

Check out our latest analysis for Black Hills

How to calculate return on equity?

The ROE formula is:

Return on equity = Net income (from continuing operations) ÷ Equity

So, based on the above formula, the ROE for Black Hills is:

9.4% = $279 million ÷ $3.0 billion (based on trailing 12 months to June 2022).

“Yield” refers to a company’s earnings over the past year. Another way to think about this is that for every dollar of equity, the company was able to make a profit of $0.09.

Does Black Hills have a good ROE?

By comparing a company’s ROE with the average for its industry, we can get a quick measure of its quality. The limitation of this approach is that some companies are very different from others, even within the same industrial classification. You can see in the chart below that Black Hills has an ROE quite close to the integrated utilities industry average (8.9%).

NYSE:BKH Return on Equity October 9, 2022

It’s not surprising, but it’s respectable. Even if the ROE is respectable compared to the industry, it is worth checking whether the company’s ROE is helped by high debt levels. If so, this increases its exposure to financial risk. You can see the 3 risks we have identified for Black Hills by visiting our risk dashboard for free on our platform here.

Why You Should Consider Debt When Looking at ROE

Most businesses need money – from somewhere – to increase their profits. This money can come from retained earnings, issuing new stock (shares), or debt. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, debt used for growth will enhance returns, but will not affect total equity. This will make the ROE better than if no debt was used.

Combining Black Hills debt and its 9.4% return on equity

Black Hills clearly uses a high amount of debt to boost returns, as it has a leverage ratio of 1.50. With a fairly low ROE and a significant reliance on debt, it is difficult to get enthusiastic about this activity at the moment. Debt brings additional risk, so it’s only really worth it when a business is generating decent returns.

Conclusion

Return on equity is a useful indicator of a company’s ability to generate profits and return them to shareholders. In our books, the highest quality companies have a high return on equity, despite low leverage. If two companies have the same ROE, I would generally prefer the one with less debt.

But when a company is of high quality, the market often gives it a price that reflects that. Earnings growth rates, relative to expectations reflected in the share price, are particularly important to consider. So I think it’s worth checking it out free analyst forecast report for the company.

Sure Black Hills may not be the best stock to buy. So you might want to see this free collection of other companies that have high ROE and low debt.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

Valuation is complex, but we help make it simple.

Find out if black hills is potentially overvalued or undervalued by viewing our full analysis, which includes fair value estimates, risks and warnings, dividends, insider trading and financial health.

See the free analysis

VanMoof says cost of living crisis is “very good” for e-bike sales

0

Leading e-bike maker VanMoof is betting the cost of living crisis will drive more consumers to buy its products instead of cars, setting a rare positive note as soaring inflation weighs on businesses in the world.

Co-chief executive Ties Carlier said the Dutch automaker is targeting city commuters more as high fuel costs and continued pressure on consumers’ wallets are forcing many to look for cheaper alternatives to cars and public transport. .

Although VanMoof has had to pass on some inflationary costs to its customers, the rising cost of living “is very good” for the company, Carlier told the Financial Times.

“An electric bike is the best alternative for [a car] in the city . . . It is also, fortunately, one of the most affordable solutions compared to the car, certainly, but even compared to public transport in London.

The start-up, whose bikes range in price from £2,248 to £2,998, is counting on further momentum after coronavirus lockdowns led to a surge in demand for e-bikes. VanMoof reported a tripling of sales in 2020, the most recent year for which it provided figures, helping its customer base to reach 155,000 passengers.

Carlier’s optimism is shared by companies in the industry. Last year, the managing director of Bosch eBike Systems, one of Europe’s largest e-bike parts suppliers, told the FT that half of all pedal bikes sold in the region will have a motor by 2025.

But VanMoof doesn’t see conventional bikes as its main competition, Carlier said.

“Our competitors are car brands,” he added. “[We now see customers] only use the car for essential things outside the city, but use the bike for trips around town. [Or] Ditch the second car and place an e-bike or two in its place. . . With cars, it’s not just fuel [that costs money]it’s wear and tear, parking.

VanMoof had raised 179.2 million euros ($175.9 million) from investors last December, making it Europe’s most-funded e-bike start-up, according to sister publication FT , Sifted. Carlier said the company aims for profitability by 2024.

But while it expects to benefit overall from the rising cost of living, the manufacturer has faced headwinds from recent supply chain disruptions that have increased its own costs.

At one point, the price of semiconductors jumped from 80 cents to $30 per chip, Carlier said. Due to the recent closures of the Chinese manufacturing center in Shenzhen, first deliveries of VanMoof’s latest bike, the S5, have been delayed by three months, he added.

But Carlier said VanMoof is mitigating the impact of cross-border trade disruptions by largely focusing its supply chain in Taiwan, where the chief executive is based.

When asked if he was concerned about China’s growing threats to Taiwan, Carlier said he was “not that worried”.

“Because we are meeting in Taiwan, I think we are less vulnerable, because we [also get most of our parts] of Taiwan,” he said. “You are less vulnerable than if you were, for example, assembling your bike in Turkey or Portugal. . . and you have to source your components from anywhere in the world.

News Briefs – Lake County Record-Bee

0

THE CITY ENVIRONMENT

Catch the last weaving workshop of 2022, artist conversations, and the Earth, Sky, and Everything In Between exhibit before it closes

This Saturday, October 8, you can experience what it means to be a contemporary Pomo basket weaver, jeweler or mixed media artist to the artists themselves. Their responses will be varied but will include stories that raise awareness of the history and heritage of the original inhabitants of this place, who are still here. They carry, in the present and the future, the cultural practices of their ancestors using both traditional and contemporary materials.

Join us at the MAC – space is limited – for artist conversations and basic basket rolling techniques or tune in on Zoom for the first part of the day including conversations and demonstration of winding of Corine. Donations are greatly appreciated to support the project, or you can attend for free. No one turned away for lack of funds. sing on: https://interland3.donorperfect.net/weblink/weblink.aspx?name=E354376&id=78

Earth, Sky, and Everything In Between ends October 10. This is the first exhibit of contemporary Native American art in Lake County and the first exhibit hosted by a Native American in the county. It’s on view Thursday through Monday from 10:30 a.m. to 5 p.m.

By Monday, more than 550 students will have visited the exhibit, bringing new perspectives and awareness to their families and communities. Join them and discover this collection of powerful and revealing works by 31 contemporary Native American artists.

-Submitted

WASHINGTON

Thompson and Levin lead letter to FTC demanding investigation into price gouging gas

At press time Friday, Reps. Mike Thompson (CA-05) and Mike Levin (CA-49) announced they were leading 29 House colleagues demanding a Federal Trade Commission (FTC) investigation into possible uncompetitive practices, anti-consumer behavior and market manipulation by California oil refineries. At least six California refineries have gone offline for maintenance in recent weeks, and gas prices have soared far beyond the national average without a clear explanation from industry leaders as to why refineries are going offline. at the same time or why California prices have diverged from national averages in unprecedented ways.

“While maintenance is a normal occurrence at refineries, this degree of divergence from national prices is unprecedented, regardless of whether refineries are scheduled or unscheduled,” the members wrote in the letter. “Even though gas prices continue to rise, the industry has provided no clear explanation as to why prices are rising so rapidly or how refineries make decisions about maintenance or outages. times of significant financial hardship for Californians, refiners need to be transparent about market dynamics.”

“We urge the Federal Trade Commission (FTC), in conjunction with the Department of Justice, Department of Energy, and California Department of Justice, to use its existing authorities to initiate an investigation into any anti-consumer behavior market potential and manipulation. in California transportation fuel markets,” they wrote. “While refiners and other actors may want to continue to operate without transparency or accountability, our constituents deserve to know whether these companies are manipulating markets at the expense of ordinary Americans, including through any collusion or coordination to affect the ability to refining or inventory levels. Our constituents deserve to know why gasoline prices in California continue to rise even though the price of oil has not increased. We urge you to immediately investigate the business practices of refiners across California to analyze whether these companies may be engaging in anti-consumer behavior.

The letter is signed by several representatives. In the letter, representatives acknowledged Governor Gavin Newsom’s significant action in directing the California Air Resources Board (CARB) to allow a rapid transition to winter blended gasoline, which generally lowers fuel prices. gasoline, and noted the relief that the state’s middle-class tax refund will provide Californians. They also pointed to the House’s passage of the Consumer Fuel Pricing Prevention Act, which would clamp down on all oil and gas companies that distort or manipulate fuel markets by strengthening the authority of the FTC to combat against misinformation in the oil and gas markets that aims to inflate the retail trade. prices for consumers.

The full text of the letter can be read online at: https://mikelevin.house.gov/imo/media/doc/2022-10-07%20Levin%20Letter%20to%20FTC%20on%20California%20Gas%20Price%20Increases.pdf

-Submitted

Kevin Hart visits a Philadelphia elementary school to promote financial literacy

PHILADELPHIA (CBS) — Kevin Hart of Philadelphia made a special visit to an elementary school in the city on Friday to talk about money and success with students. He shared lessons and insights from his personal financial journey.

Hart is known for his comedic skills, but the Philadelphia native takes the issue of making sure the younger generation understands the importance of fiscal responsibility seriously.

“I identify with the kids because I’ve been where they are,” Hart said.

Hart made a surprise visit to Robert Morris Elementary in North Philadelphia on Friday morning. The student-only event gave him the opportunity to speak about financial literacy to the group of nearly 200 children.

Hart has partnered with JP Morgan Chase, Book Trust and the School District of Philadelphia to promote financial literacy.

“From youth at the lowest level to middle school in college, you really have to broaden the conversation,” Hart said.

The award-winning artist uses his own life experience to inspire young students to think big and plan for a prosperous future. Students even brought their own vision boards to the event.

“The vision board and seeing kids drop things off like family, a house, or food,” Hart said. “You know, the things you see kids thinking about at that age that they want to save money for.”

“I was a kid who had no idea the importance of money because when it came it was there but when it went away it went away,” he added. “That’s how a lot of kids think”

Hart’s second children’s book, “Marcus Makes It Big,” will be available to students at the school. Hart hopes her books, her presence and her story will inspire change at the youngest level.

“If we can equip this generation with the important tools to just understand why saving matters, why banking matters, why having a plan matters,” Hart said.

Book Trust is an early literacy non-profit organization aimed at increasing children’s literacy. JP Morgan Chase and Hart have donated a total of $150,000 to improve access to literacy for children in the Philadelphia School District.

Offshore ROV Market Size, Strategies, Competitive Landscape, Trends and Factor Analysis 2022-2032 | Oceaneering, Subsea 7, Fugro, TechnipFMC, Saipem, Forum, DOF, ECA

0

New study on “Global Offshore ROV Market 2022 by Manufacturers, Regions, Type and Application, Forecast to 2032” Added to Quince Market Information Database

The Global Offshore ROV Market Report is a professional and in-depth study on the current status of the Offshore ROV Market by QMI. The Offshore ROV Market is expected to show considerable growth over the forecast period from 2022 to 2032. Company profiles of all major players and brands dominating the market have been profiled in this report. Their movements like product launches, joint ventures, mergers and acquisitions and the respective effect on the sales, import, export, revenue and CAGR values ​​have been thoroughly studied in the report. The scope of this Offshore ROV Market report can be extensive from market scenarios to comparative pricing among key players. Emerging trends along with key market drivers, challenges and opportunities are also identified and analyzed in this report.

Download Free Sample Premium Copy@ https://www.quincemarketinsights.com/request-sample-62027

Global Offshore ROV Market Scope and Market Size

The offshore ROV market is segmented on the basis of product, customer, and distribution channel. The growth among these segments will help you analyze weak growth segments in the industries and provide users with valuable market insights and market insights to help them make strategic decisions for identification of major market applications.

Key Players profiled in this report include: Oceaneering, Subsea 7, Fugro, TechnipFMC, Saipem, Forum, DOF, ECA, Deep Ocean Group, ISE, Deep Ocean Engineering and AC-CESS.

Why the Offshore ROV Market Report is Beneficial?

✤The Offshore ROV report is compiled with a thorough and dynamic research methodology.
✤The report offers a complete picture of the competitive scenario of the Offshore ROV Market.
✤It includes a large amount of information on the latest technologies and product developments in the offshore ROV industry.
✤Wide range of analysis is associated with impact of these improvements on future growth of Offshore ROV industry.
✤The Offshore ROV report has combined the required essential historical data and analysis into the comprehensive research report.
✤The information in the Offshore ROV report can be easily understood and contains graphical representation of numbers in the form of bar charts, statistics and pie charts etc.

The research study can answer the following key questions:

1. What will be the growth rate of the Offshore ROV market for the conjecture period, 2032?
2. What are the major factors driving the Offshore ROV Market across different regions?
3. Who are the major vendors dominating the offshore ROV industry and what are their winning strategies?
4. What will be the scope of the contract for the estimated period?
5. What are the major trends shaping the expansion of the industry in the coming years?
6. What are the challenges facing the Offshore ROV Market?

Contents

Presentation of the report: It includes the Offshore ROV Market study scope, players covered, key market segments, market analysis by application, market analysis by type and other chapters that give an overview of the research study.

Summary: This section of the report gives information about Offshore ROV market trends and shares, market size analysis by region and global market size analysis. As part of the market size analysis by region, an analysis of market share and growth rate by region is provided.

International player profiles: Here, key players of the Offshore ROV market are studied on the basis of gross margin, price, revenue, corporate sales, and production. This section gives a business overview of the players and shares important details of their business.

Regional study: All of the regions and countries analyzed in the Offshore ROV Market report are studied on the basis of market size by application, market size by product, key players, and market forecast.

Would you like to ask a question? Ask our expert: https://www.quincemarketinsights.com/enquiry-before-buying/enquiry-before-buying-62027

Contact us:

Overview of the quince market
Telephone: +1 208 405 2835
E-mail: [email protected]
Website: www.quincemarketinsights.com

Engine parts manufacturers must cross the “valley of death” to reach the era of electric vehicles

0

KIDDERMINSTER, England, Oct 5 (Reuters) – Auto engine parts makers eyeing the promising market for electric vehicles face a severe case of delayed gratification.

Until electric vehicles really take off, engine parts makers face a perilous few years where they must invest heavily in new machinery, while battling declining fossil fuel car sales.

Evtec Aluminium, a small supplier with two factories in England, is a good example. He barely survived.

Join now for FREE unlimited access to Reuters.com

For the past decade in the European Union – when Britain was still a member – diesel was the green fuel of the future. Automakers, including Evtec’s main customer Tata Motors (TAMO.NS), Jaguar Land Rover (JLR), have invested tens of billions of dollars in new diesel models and production capacity.

Suppliers have followed suit. Evtec, then known as Liberty Aluminium, invested tens of millions of pounds in new machines, some of which sit idle but are still depreciated.

Then the EU, spurred in part by Volkswagen’s “Dieselgate” emissions cheating scandal (VOWG_p.DE), quickly ditched diesel in favor of electric vehicles and now plans to effectively ban sales of cars at combustion engine by 2035.

“We left thinking diesel is the future,” Evtec commercial director Brett Parker said during a tour of the company’s half-empty foundry in Kidderminster in England’s Midlands. the historic heart of the British motor industry. “We bet on the wrong horse, unfortunately.”

Evtec was saved last year when a group led by investor David Roberts bought it out. Roberts says Evtec’s foundry in Kidderminster is Britain’s most modern – vast machinery here pumps molten aluminum heated to around 660 degrees Celsius (1,220F) into castings to create complex shapes – and stand to benefit as UK automakers look to build electric vehicles that need aluminum parts.

“For me, it was a no-brainer to invest in this business,” Roberts said.

As recently as 2015, diesel accounted for nearly 52% of car sales in the EU. After Dieselgate and the shift to electric vehicles, diesel fell to 19.6% of EU sales in 2021 and has fallen further this year. In Britain, diesel car sales have halved to just 8.2% in 2021.

Sales of petrol cars in the EU have fallen to around 40% in 2021, from more than 45% in 2015, and will continue to fall as Europe goes electric.

Major engine parts suppliers like Vitesco Technologies Group AG (VTSCn.DE) and Schaeffler (SHA_p.DE) are already investing in the transition to electric, but smaller players like Evtec – for which tracking data is not not widely available – must adapt or die.

“Engine parts manufacturers are ground zero for the most pain in this transition because they have the least portability in the world of electric vehicles,” said Mark Wakefield, global co-head of automotive and industrial practice of the consulting firm AlixPartners.

Some major automakers have warned of huge job losses, as electric motors have only a third of the parts of a combustion engine and require less labor.

Fewer parts also means fewer suppliers.

Engine parts suppliers must either transform into an EV-focused business or branch out into other industries by making parts for everything from heavy equipment to hair dryers.

Or go out of business.

“People have to realize that this transition has a cost,” said Evtec investor Roberts. “We all have our own valley of death to access electric vehicles, but for some providers it will be so much more difficult.”

“IMPOSSIBLE TO GROW WITHOUT MONEY”

Falling combustion engine car sales have already cost jobs.

The world’s No. 4 automaker Stellantis NV (STLA.MI), for example, is moving its plant in Tremery, France – long the world’s largest diesel engine factory – to EV motors.

Tremery currently employs 2,400 people, up from 3,000 in 2019. Many more will not be replaced when they retire.

German supplier Bosch (ROBG.UL) is transforming its plant in Rodez, southern France, from diesel injectors to new products including hydrogen fuel cells, cutting 750 of 1,250 jobs.

Auto industry consultant Bernd Bohr said larger, deep-pocketed suppliers are likely to be the “last man standing” to deliver a particular part.

“A lot of companies are fighting for a piece of an ever-shrinking pie and the question is, who gets that volume?” he said.

Powertrain supplier Vitesco is focused on combustion engines, but by 2030 the company expects electric vehicles to account for 70% of sales.

In January, the German supplier will split its business into two main divisions, one focused on electric vehicle components and the other on higher value diesel technology to provide cash as that business winds down.

“We need to generate the necessary funds to be able to invest in the future,” Vitesco CEO Andreas Wolf said. “I can’t grow without money.”

A third division will include the remaining businesses to close or sell, Wolf said.

Parts supplier Schaeffler expects its future electric vehicle business to lag behind current combustion engine sales, so the German company is focusing on diversifying its customer base.

For example, the ball bearings that Schaeffler sells to automakers could be sold to other industries.

“OTHER WILL DROP”

Smaller suppliers are already grappling with soaring raw material and energy costs, as well as the need to invest in greener products to meet automakers’ climate goals.

Financing new equipment for electric vehicle parts could be difficult.

Evtec investor Roberts said the company had about 330 million pounds ($363.8 million) in electric vehicle parts business for JLR on a seven-year contract, plus about 250 million additional books with other automakers.

But due to long lead times in the auto industry, models for these contracts won’t begin production for two to three years.

Evtec is to spend up to £70 million on new tools and machinery for these contracts, half of which Roberts will pay, well before any revenue is generated.

Evtec also benefits from the support of JLR, which considers it a strategic supplier.

“Our suppliers play a central role in our transformation,” said a JLR spokesperson. “We are working closely with them as the automotive industry transitions to electrification.”

AlixPartners estimates automakers have committed $526 billion to going electric and if they don’t proactively address supplier issues, they could end up spending another $70 billion to fix them.

Suppliers making key components could be rescued, but automakers can’t afford too many bailouts, Wakefield said.

Evtec’s Parker said that with an investor backing its transition, in the near term the company is looking to “fill in the gaps” in its revenue.

Earlier this year, when an Israeli supplier closed, Evtec took over part of its business. As suppliers struggle after two years of pandemic, supply shocks and inflation, Parker expects more such opportunities.

“If you can hang on long enough, others will potentially give up,” Parker said. “Then you’re more likely to land business.”

($1 = 0.9070 pounds)

Join now for FREE unlimited access to Reuters.com

Reporting by Nick Carey in Kidderminster, England, and Christina Amann in Berlin Additional reporting by Gilles Guillaume in Paris Editing by Ben Klayman and Matthew Lewis

Our standards: The Thomson Reuters Trust Principles.

IOU FINANCIAL SETS NEW ALL-TIME RECORD FOR LOAN ORIGINATIONS AND REAFFIRMS 2022 OBJECTIVES

0

Company highlights success of go-to-market strategy and the post-pandemic growth plan to drive growth.

ATLANTE, October 4, 2022 /PRNewswire/ – IOU FINANCIAL INC. (“IOU” or “the Company”) (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), today announced the origination of loans in the third quarter of $74.2 million representing an absolute record in the company’s history.

Loan originations in Q3 2022 of $74.2 million represent an increase of 25.8% over the previous period (US$59.0 million) and 42.1% over the same period in 2021 ($52.2 million). Total loans since the beginning of the year $192.7 million represent an increase of 72.2% compared to the same period in 2021 ($111.9 million).

“IOU’s strong loan originations in the third quarter of 2022 and progress towards its strategic objectives make us cautiously optimistic about achieving the top of our guidance,” said Robert Gloer, Chairman and CEO. “IOU Financial continues to execute its strategy by significantly increasing lending while investing in technology and product innovation.”

The Company continues to execute its post-pandemic growth plan, first announced in May 2021based on three strategic pillars:

  • Technological innovation : The company continues to invest in the development of its proprietary IOU360 platform to better support brokers, traders, investors and internal stakeholders, all designed to support greater efficiency and the long-term scalability of the company.
  • Product extension: The Company is committed to product innovation to meet the changing needs of brokers and small business owners as well as to further differentiate itself in the marketplace. In August 2022 IOU launched its Premier PLUS Term Loan for loans up to $1.5 million with terms of 36 months, preceded by the Cash back loan from IOU Financial, 24 month term loan in 2021.
  • Distribution of products: The Company continues to expand its wholesale (IOU Financial) and retail (ZING Funding) distribution strategies to maximize its exposure to the economic recovery through both channels.

The success of IOU Financial’s post-pandemic growth plan has enabled the company to earn a Silver Stevie® at the American Business Awards® in May 2022and in june IOU has been named one of the 50 Best Workplaces in Fintech for 2022 by American Banker. Further growth in loan originations was enabled by IOU’s transition to August 2021 from a portfolio loan strategy (under which loans were funded directly from IOU’s balance sheet) to a market strategy under which loan originations are primarily sold to institutional buyers.

IOU Financial maintains its outlook for loan originations in the range of $220 million$260 million.

About IOU Financial Inc.

IOU Financial Inc. is a wholesale lender that provides quick and easy access to growth capital for small businesses through a network of preferred brokers across the United States and Canada. Leveraging its proprietary IOU360 technology platform that connects underwriters, traders and brokers in real time, IOU Financial has become a trusted alternative to banks by disbursing over $1 billion in loans to fund growth small businesses since 2009. IOU has been named one of the 50 Best Workplaces in Fintech for 2022 by American Banker and trades on the TSX Venture Exchange under the symbol IOU (TSXV: IOU) and on the US over-the-counter markets under the name IOUFF. To learn more about IOU Financial’s corporate history, financial products, or to join our network of brokers, please visit www.IOUFinancial.com.

Forward-looking statements

Certain information contained in this press release may contain forward-looking statements. Forward-looking statements are statements, other than statements of historical fact, that address or discuss activities, events or developments that IOU expects or anticipates will occur in the future. These forward-looking statements can be identified by the use of words and phrases such as “expects”, “believes”, “estimates”, “expects”, “may”, “plans”, “projects”, ” should”, “will”, “intend”, “seek”, “allow”, “create a path for”, “put in a position to” or the negative of it or other variations of it -this. These forward-looking statements are subject to and involve substantial known and unknown risks and uncertainties, some of which are beyond IOU’s control, including, but not limited to, the impact of general economic conditions, industry conditions , dependence on regulatory and shareholder approvals, uncertainty of obtaining additional financing, risks related to the Company’s inability to execute its business plan, dependence on third-party service providers, competition, reliance on key personnel, security and privacy risk, technology development risk, IT disruptions, customer relationship maintenance and litigation risk. No assurance can be given that any of the events anticipated by these statements will occur or, if they occur, what benefit IOU will derive therefrom. Readers are cautioned that the assumptions used in the preparation of this information, while believed to be reasonable at the time of preparation, may prove to be imprecise and, accordingly, undue reliance should not be placed on any forward-looking statements. IOU undertakes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. Additional information regarding these and other factors can be found beginning on page 20 under the heading “Risks and Uncertainties” in IOU’s MD&A dated May 18, 2022which is available under the IOU profile on SEDAR at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE IOU Financial Inc.

China is suffering from a major financial crisis

The Chinese financial crisis is worsening. In this latest phase, Chinese banks, anticipating huge loan losses, have taken dramatic steps to bolster their loan loss reserves, tapping into Chinese bond markets for about 30% more funds year-on-year. last. The problems of the banks are hardly a surprise. They’re actually just another step in the metastasis crisis that began more than a year ago when huge property developer Evergrande announced it could no longer sustain some $300 billion in liabilities. . At the time, Beijing clearly did not understand what was about to happen and refused to act quickly or completely enough to stop the series of failures that have since characterized Chinese finance. These failures and the crisis in general will continue to spread until Beijing acts more decisively.

What China is going through is a textual illustration of the unfolding of a financial crisis. Failures in one place have led to failures elsewhere, and the associated fears and lack of trust render the system unable to function effectively or sustain economic growth.

The spread of unrest began when Evergrande announced its failure. Immediately, any business or financial institution that relied on Evergrande’s ability to meet its obligations became vulnerable to loss. And, in the nature of finance, anyone who relied on these others also immediately became vulnerable. It didn’t matter if the vulnerability was direct to Evergrande or secondary or even tertiary, all potential lenders and business partners had questions about everyone’s viability, questions that become even more intense as other developers followed Evergrande. with similar announcements.

This mistrust of others spread further to Chinese mortgage lenders when Chinese borrowers, fearing that these developers would never complete contracted projects, threatened to stop paying their mortgages. As most banks were involved, this threat caused Chinese depositors to worry about the safety of their funds, a fear that became particularly acute when the Bank of China unilaterally restricted withdrawals.

The financial problems had obvious economic effects. Weakness is already evident in China’s economy which, despite increased government infrastructure spending, threatens to fall well short of the already cut real growth target of 5.5% this year. Many attribute the economic shortfall to the severe shutdowns and quarantines imposed by Beijing in response to the Covid outbreaks. No doubt these played a role. But the financial crisis, though downplayed by Beijing and Western media, has had a profound effect. When people fear for the safety of their bank deposits, they slow down or stop spending. When lenders fear the viability of companies and individual borrowers, they stop providing capital to otherwise promising projects. When people involved in business arrangements fear the viability of their associates, projects come to a halt. As is becoming increasingly evident, all of this is slowing down the wheels of trade and development.

The fate of Chinese steel is a perfect illustration of this. Because property developers halted their projects and because of a lack of credit, some 29% of the industry announced that it was on the verge of bankruptcy. This is a sharp drop from last year, when China’s steel industry profitably sold billions of tons, or about half of global production, in fact. According to Li Ganpo, founder and chairman of the Hebei Jingye Steel Group, “The whole industry is losing money, and I don’t see a turnaround at the moment.” And these problems spread naturally. Iron ore prices have fallen 36% since March. Steel is just one example. China will continue to see these kinds of shortfalls until Beijing acts to stop the spread of failure.

Beijing could have avoided much of this economic pain if it had acted on Evergrande’s announcement. Authorities might have lent directly to short-circuit what has become an inexorable spread, not to failing developers but to other actors in the financial system to mitigate their vulnerability to developer failures. This would have helped restore confidence and ensured that loans would continue to keep the wheels of trade turning. Alternatively or additionally, the People’s Bank of China (PBOC) could have increased the flow of loanable funds from the system so that private lenders and public banks could afford to lend more aggressively and also have sufficient financial cushion. to reassure customers’ fears. on the security of their deposits. But Beijing failed to act and so financial failures and their fears progressed, textbook fashion, throughout the Chinese financial system. This progression, with its adverse effects on the economy, promises to become increasingly serious unless Beijing implements such policies.

Unfortunately, there are few signs that Beijing has fully awakened to this need. So far, the Politburo, China’s top decision-making body, has insisted that local and provincial governments take the lead in dealing with financial strains. Passing the buck in this way suggests that Chinese leaders have studied Washington more thoroughly than previously thought. Cynical joking aside, this shifting of responsibility and inaction does the Chinese economy no good. At best, local and provincial governments would have been unable to cope with the scale demanded by the financial crisis. But after years of Beijing forcing local and provincial governments to fund infrastructure projects ordered by central planners, these government entities lack the financial resources to deal with local affairs, let alone the needs of the financial system. national. Beijing is the only actor capable of fulfilling this role, and so far it has refused to act beyond a few marginal interest rate cuts.

The true cost of Liz Truss’ energy price cap plan

0

This article was originally published on September 12, 2022. On October 1, 2022, the new Ofgem energy price cap came into effect. This article has been republished in light of the latest news.

In October 2008, a financial analyst from JP Morgan wrote an article in the new statesman entitled: “And again the Chancellor borrows”. In it he lamented the “madness” of an increasingly unpopular party trying to hold on to government by rejecting “fiscal responsibility” by dramatically increasing government borrowing, only to turn it over to an amoral industry. “We are happy to believe in markets in good times. When times are bad, we run to the state,” he wrote.

The writer was of course Kwasi Kwarteng, who himself is now chancellor and does exactly the same thing in the same post. Last week, Liz Truss announced the Government would cap consumer energy bills at £2,500 a year for a typical household for two years, and apply a similar discount for businesses for six months.

This plan provides for a vital and very significant reduction in the cost of energy and in doing so, the government expects it to reduce inflation by four to five percentage points. But this is a short-term effect that has an immense long-term cost. It commits the UK to borrow an unknown and unlimited amount in the financial markets, at a high rate, so as to produce higher inflation and higher interest rates for years to come.

The effect of this can already be seen in financial markets, where inflation-linked securities change in price depending on how much the people buying and selling them expect inflation to increases or decreases.

Select and enter your email address

The crash



A weekly newsletter helping you put the pieces of the global economic downturn together.






  • administration office
  • arts and culture
  • Crew member
  • Business / Corporate Services
  • Customer / Customer Service
  • Communication
  • Construction, Works, Engineering
  • Education, Curriculum and Teaching
  • Environment, Conservation and NRM
  • Management and maintenance of facilities / grounds
  • Financial management
  • Health – Medical and Nursing Management
  • HR, training and organizational development
  • Information and communication technologies
  • Information services, statistics, records, archives
  • Infrastructure Management – Transportation, Utilities
  • Lawyers and practitioners
  • Librarians and library management
  • Management
  • Marketing
  • OHS, Risk Management
  • Operations management
  • Planning, policy, strategy
  • Print, Design, Publishing, Web
  • Projects, Programs and Advisors
  • Property, asset and fleet management
  • Public relations and media
  • Purchasing and Supply
  • Quality management
  • Scientific and technical research and development
  • Security and Law Enforcement
  • Delivery service
  • Sports and leisures
  • Travel, Lodging, Tourism
  • Wellness, Community / Social Services



“Longer-term inflation expectations haven’t come down much,” said Janet Mui, head of market analysis at Brewin Dolphin. “The market estimates that one year later, inflation [in the UK] will go down, but in five to ten years inflation should remain high. So the decline in inflation from the previous forecast is a very short-term thing the market is expecting due to artificial price suppression, and in fact the market is worried about the longer-term implications. inflation term.

Content from our partners

How industry is the key to net zero

How to make net zero bring good growth and green jobs

Floods are a major risk to our homes

This concern stems in part from the fact that, as the energy price cap is funded by new government borrowing, rather than new taxes (such as a windfall tax), it commits the UK to borrowing as much it is necessary. The cost of the plan has been estimated at £100bn by the government and £250 billion by others, but the truth is that the UK will have to pay whatever the difference between the wholesale cost of energy and the new price cap. Since wholesale prices can, as we have seen, increase exponentially, UK borrowing is effectively unlimited.

The situation is getting worse, however, because public debt – when contracted in financial markets – is not created in the same way. Committing to borrow an effectively unlimited amount in the financial markets means committing to sell an effectively unlimited number of government bonds, or gilts. This makes these gilts cheaper. As bonds become cheaper, their “yield” (the return the lender receives) increases. The UK’s new borrowing to fund the energy cap will be issued at current market levels, which Mui said will make the country’s new borrowing costs “very high”.

But this is not the only financial market in which Britain will have to pay more. Bloating debt and a large trade deficit are affecting the value of the pound – now at its lowest level in 37 years – making imports more expensive and driving up prices across the economy. It’s an effect we’ve seen before: researchers at the London School of Economics found that the fall in the pound after the Brexit vote pushed UK inflation up by 1.7 percentage points.

Even more costs are added by the fact that the Truss plan not only undermines market confidence in the UK, but does not solve the demand problem.

Stephen Millard, deputy director of macroeconomic modeling and forecasting at the National Institute for Economic and Social Research, explained that “someone, at some point, has to pay energy companies to cover their costs.” When the government creates new debt to pay the bill, there will be, he continued, “more money will flow into the economy…there will be more demand for goods and services across the country. economy…and this increase in demand means that inflation will be higher”.

Millard said that would leave the Bank of England little choice but to counter the demand created by the government. “The government is spending a lot more money, which creates additional demand…which drives up inflation. At the same time, we have the Bank of England saying, “We still want to bring inflation back to our target. We will therefore have to react more strongly, by repressing this demand in order to bring down inflation.

The use of a blunt instrument – the same benefit for everyone in the country – also fails to meet the demand for energy from businesses and consumers. During a global supply crisis, as France discusses energy rationing and German banks turn off their heating, the UK fails to encourage its wealthy citizens and businesses to reduce their energy consumption .

“If anything, the incentive is actually to use too much gas,” Millard said, “because you’re paying way below the odds for that. And the concern then is that it actually creates a shortage.

New energy from hydraulic fracturing and new nuclear power plants will arrive – if ever – in a decade. The only short-term measure the UK has to deal with the wholesale cost of energy is to reduce demand for it, by insulating homes, making businesses more energy efficient and encouraging those who can allow it to consume less. With such an incentive, many could invest in energy saving measures; otherwise, they will wait and see.

Essentially, the Truss Plan is the equivalent of a quarter of a trillion pounds spent pretending that the last decade of energy policy was not some short-sighted, wasteful disaster, and that the recession we all know is coming will happen to someone else. ‘other. That may make the economy healthier for a while — just long enough to get through an early election, maybe — but the cheaper price of energy for everyone this winter will be a weaker economy for a decade.

[See also: Vague policy is leaving businesses in the dark on their energy bills]

Japan’s deflated record on monetary policy

0

Author: Willem Thorbecke, RIETI

Japan has used monetary policy to stoke inflation since Shinzo Abe became prime minister in 2012. But with inflation above 8% in the US and Europe and 10% in the UK, Japanese inflation averaged below 2% between January and July 2022. The question is why the Bank of Japan (BOJ) failed to meet its inflation target despite buying 400 trillion yen (2.8 trillion dollars) of government bonds over the past ten years.

Japan has a long history of monozukuri, or manufacturing. During the post-war period, companies such as Toyota, Panasonic and Sony became world-class manufacturers. Competition in global markets has forced them to innovate to meet consumer demand. Profits and wages rose as they succeeded – and the Japanese economic miracle emerged.

Many shocks then shook the Japanese economy. The global financial crisis has been particularly devastating. Japanese industrial production fell 35%, real exports fell 40% and the Nikkei 225 stock index fell 80% in the first two years of the crisis. The Japanese real exchange rate appreciated by 30%. It played a key role causing exports to fall and losing the price-competitiveness of Japanese companies, particularly in the automobile and electronics sectors.

To maintain competitiveness, many Japanese exporters kept export prices constant in foreign currencies. The strengthening yen pushed down yen-denominated export prices without lowering production costs in Japan. Export prices fell an average of 30% more than yen-denominated costs, crushing corporate profit margins. Japanese companies reacted by transfer of production abroad and manufacture high-end products in Japan.

Deflation gripped the country from February 2009 to 2013, reaching a low of -2.6%. During the 2012 election campaign, Abe argued that the BOJ should print unlimited amounts of yen to fight deflation. BOJ Governor Haruhiko Kuroda implemented this expansionary monetary policy after Abe won the election. The yen depreciated by 55% between November 2012 and the end of August 2022. Yet this policy has still failed to generate consumer demand-driven inflation.

In the past, a weaker yen increased price competitiveness Japanese companies and increased exports. But after Japanese companies offshored production during the global financial crisis, the weaker yen has does little to increase exports. This mitigates the impact of depreciation on employment and wages of Japanese workers in export industries.

The high-end products that Japanese companies now export, such as ceramic capacitors and image sensors, require advanced technologies and skilled workers. When the weaker yen boosts exports, it benefits highly skilled workers who already receive higher wages. Normal workers in export industries, which flourished during Japan’s post-war boom, do not benefit from these gains.

Large corporations such as Toyota find that the weaker yen increases the yen value of repatriated profits from overseas production and sales, thereby boosting their stock prices. Wage gains for highly skilled workers and rising stock prices primarily benefit those at the top of the income distribution. The weak yen does little to increase aggregate consumption because the marginal propensity to consume of rich workers is lower than the marginal propensity to consume of poor workers.

This makes life difficult for Kuroda, who has pledged to maintain expansionary policies until increases in wages and consumption lead to inflation. The BOJ has kept interest rates low while the Federal Reserve, European Central Bank, Bank of England and many other central banks are raising rates.

Its task is made more difficult by the reluctance of Japanese companies to raise prices in the Japanese market. Businesses have a strong sense of loyalty to their customers and fear losing customers if they raise prices. Even if it hurts their profit margins, companies often choose to absorb increases in input prices rather than increase the price of finished goods.

If the yen continues to weaken, this risks creating a vicious circle. A weakening yen against the US dollar raises the costs of imported energy and US dollar-denominated raw materials, increasing Japan’s trade deficit. Japan ran trade deficits every month between August 2021 and July 2022. The yen could depreciate further as the trade deficit feeds into the current account deficit. Japanese policymakers should be prepared to act if the depreciation becomes disorderly. The BOJ intervened on September 22 by buying the yen. But intervening in the currency markets without changing the interest rate differentials between Japan and other advanced countries is unlikely to strengthen the yen much over time.

Abe proposed three types of policies – monetary policy, fiscal expansion and structural reform – to revitalize the Japanese economy. He poetically called them the three arrows. In practice, policy makers have account on the arrow of monetary policy. While expansionary monetary policy caused the yen to depreciate, the weaker yen failed to boost wages or consumption. After Japan outsourced much of its manufacturing, the weak yen no longer boosts exports and no longer has the impact it once had on employment and wages for workers in the industry.

Stagnant wages and sluggish consumption are serious problems for Japanese residents. They also prevent inflation from reaching the BOJ target. But these problems cannot be solved by expansionary monetary policy alone.

Willem Thorbecke is a senior researcher at the Japan Economics, Trade and Industry Research Institute.

Former NBA draft top 5 involved in 8-man trade: report

0

Several players, including a former top-five NBA draft pick, were reportedly involved in a trade from the Oklahoma City Thunder to the Houston Rockets.

It’s a player trade between the Thunder and Houston, per ESPN. Oklahoma City will send Derrick Favors, the third pick in the 2010 NBA Draft, Ty Jerome, Moe Harkless, Theo Maledon and a 2025 second-round pick via the Atlanta Hawks in exchange for David Nwaba, Sterling Brown, Trey Burke and Marquese. Chriss from Houston.

This decision also has to do with the ceiling situation of both teams. The Thunder now have two trade exceptions and $10 million more in cap, ESPN reported. The Rockets also got that second-round pick by accepting $1 million.

CLICK HERE FOR MORE SPORTS COVERAGE AT FOXNEWS.COM

David Nwaba #2 of the Houston Rockets poses for a portrait during NBA Media Day on September 27, 2022 at the Toyota Center in Houston, Texas.
(Logan Riely/NBAE via Getty Images)

Favors are entering their 14th year in the league, and will now be their fifth team. The veteran center played with the Thunder for just one season in a depth role, playing 16.7 minutes and averaging 5.3 points with 4.7 rebounds in 39 games.

Harkless is another NBA journeyman, now joining his seventh team in what will be his 11th season. He played with the Sacramento Kings, averaging 4.6 points, 2.4 rebounds and 0.5 assists in 47 games last year (24 starts).

NBA CHAMPION SAYS HE ALMOST STABATE TEAMMATE HAKEEM OLAJUWON IN LOCKER ROOM FIGHT

Nwaba has seen a minute drop with the Rockets, going from 22.6 in 2020-21 to 13.2 in 2021-22. He was lowered on the depth chart in part because of Jalen Green, the 2021 second overall pick for Houston, joining the team.

Burke was a former top 10 since the 2013 draft when he came out of Michigan. After three seasons with the Utah Jazz early in his career, he has since bounced back, playing for the Washington Wizards, New York Knicks, Dallas Mavericks and Philadelphia 76ers.

Maurice Harkless #4 of the Atlanta Hawks poses for a portrait during NBA Media Day on September 23, 2022 at PC&E Studio in Atlanta, Georgia.

Maurice Harkless #4 of the Atlanta Hawks poses for a portrait during NBA Media Day on September 23, 2022 at PC&E Studio in Atlanta, Georgia.
(Adam Hagy/NBAE via Getty Images)

Overall, this trade is just swapping depth pieces to better balance the respective rosters of two teams that continue to rebuild since their All-Stars moved elsewhere.

For the Thunder, it was the three-headed monster of Kevin Durant, James Harden and Russell Westbrook who ended up parting ways with Oklahoma City to go to bigger cities better prepared to handle their stardom and financial responsibility. Westbrook was the last to stay at OKC before joining the Rockets to join Harden again.

THUNDER APPLIED FOR $4.95M PLAYER EXCEPTION AFTER FIRST CHOICE END-OF-SEASON INJURY: REPORT

But that never worked out, with Harden seeking a trade two seasons ago with the Brooklyn Nets. He is now with the 76ers, aiming for that elusive NBA title race.

Houston is a newer rebuild, and they believe in Green as one of their showpieces. Jabari Smith Jr. was also just drafted while Kevin Porter Jr. played a solid point guard.

Derrick Favors #15 of the Oklahoma City Thunder poses for a portrait during NBA Media Day on September 26, 2022 at the Paycom Center in Oklahoma City, OK.

Derrick Favors #15 of the Oklahoma City Thunder poses for a portrait during NBA Media Day on September 26, 2022 at the Paycom Center in Oklahoma City, OK.
(Zach Beeker/NBAE via Getty Images)

CLICK HERE TO GET THE FOX NEWS APP

As for Oklahoma City, Shai Gilgeous-Alexander and Josh Giddey are creating a fun backcourt to watch and get excited about going forward. Unfortunately for them, their first-round pick this year, Chet Holmgren, was ruled out for the season after a right foot injury required surgery.

housing prices and short-term rental issues – Tennessee Lookout

0

For those of us who focus our time and attention on state news coverage, whether through news sites or social media, it’s easy to think that Tennessee has unique issues .

Of course we do, because each state has its own unique issues. But to quote “Human Family,” written by the late Maya Angelou, “We are more alike, my friends, than we are not.”

A few weeks ago, I joined my colleagues for the semi-annual meeting of editors of States Newsroom’s 29 (soon to be 31) briefings. The conference is a rare opportunity to get together with people who have the same job as me, and we share our experiences, from the regular hassles of the workday to the issues that dominate our coverage.

And while I really enjoy the first part, it’s the last one that’s particularly interesting, because that’s when I can see the similarities about the issues that Tennessee has in common with other states.

Tennesseans, and especially Nashvillians, complain about housing prices and the lack of affordable housing and for good reason: A month of July report showed that Nashville is the 17th most expensive rental market in the nation, with the price of renting a one-bedroom apartment averaging around $1,700 per month.

And in August, the median home price in Davidson County was $484,000, trending up 22% over the past year.

Housing disparities in a neighborhood of East Nashville. (Photo: John Partipilo)

That’s a pretty steep increase, but we could have worse. Darrell Ehrlick, editor of our sister outlet in Montana, reported that the median price for a single-family home in Bozeman is $871,500 — and is expected to top $1 million this year. In Missoula, a city of about 75,000 people, the median home price is about $535,000.

Who would have thought? But the conversation I had with about 15 other publishers made it clear that not only sky-high housing costs are problematic, but real estate trust investments in short-term rental properties – a factor in rising prices rentals – aren’t just Music City’s problem.

In July, the Maine Lighthouse reported that the November ballot features an initiative that, if passed, will reduce the number of short-term rental properties. Organizers say 2% of Portland’s available housing stock, or 400 units, are short-term rental properties. As in other cities, such as Nashville, shrinking long-term rental stock is increasing market pressures to raise rents — and sometimes evict tenants.

A similar measure failed in 2020, but residents of Jersey City, NJ got a better result in a 2019 referendum. preserve restrictions on DOS as Airbnb has spent over $3 million promoting their cause.

Obviously there’s a lot of money in DOS and there’s evidence show that their enactment harms the prospects for long-term and affordable housing.

“We know we’ll be massively spent, like in 2020, but we also know voters understand what’s at stake,” said Sarah Loudon, vice president of the Maine Campaign to Reduce STRs.

Nashville Subway Board voted for a ban on some STRs in 2019, but the Tennessee General Assembly considered a 2022 bill to prevent local governments from passing property guidelines.

In March, a investigation by Phil Williams with Nashville’s News Channel 5 linked Tennessee lawmakers to Airbnb, showing the short-term rental giant donated $40,000 to a Capitol Hill lobbying firm run by former lawmakers who acts as a middleman, distributing the money to nearly two dozen lawmakers.

As our group of writers discussed the housing issues facing our states, we found no solutions. But sometimes misery really loves company.

How SMEs are coping with the cost of doing business crisis –

0

As Nigeria faces a new crisis in the cost of doing business, many of the country’s 41.5 million small and medium-sized enterprises (SMEs) are adapting to survive today’s business realities.

Production costs have more than doubled for businesses in Africa’s biggest economy since Russia invaded Ukraine in February amid currency shortages and worsening insecurity.

BusinessDay, in its usual fashion, interviewed some entrepreneurs who shared how they are coping with the recent spike in diesel prices and input costs. And here are their answers:

Paul Akingbola

Akingbola is CEO of Protransl8, a translation agency, and co-founder of Transcript dot NG, a technology startup.

How do you cope with rising input costs?

I believe that there is almost nothing that individuals can cope with the rising cost of entry. At best, we can only find ways to lessen the severity of its impact on our business. I often see things from a half-full state of mind. That way, instead of lamenting what isn’t working, I focus on the part that is working.

A major coping mechanism that comes to mind was to start charging in dollars. That way, whatever happens to the naira doesn’t have much of an impact on my thoughts. We also continue to review our business plans and strategy to ensure alignment with the realities of the operating environment.

Do you earn much more money than before?

For events, yes, because there are more and more daily events. Nor have we restarted the backlog of events from the Covid-19 lockdown. With organizing events being one of my thoughts, I see that there is so much money on the table in the event industry. This is why I often say that event money is sweet. That’s why I also advocated for many more people to join the industry.

For Transcript point NG, activities have been stalled for months due to strike actions by ASUU and NASU as public higher education institutions have been closed. And these happen to be a majority market. No way to get transcripts for students resulting in loss of income. We also had to stall the application process to avoid stacks and backlogs.

Are people buying your products?

We do not sell tangible products. I think the second answer can solve this problem. But for Transcript point NG, people want to buy; because more and more alumni want their transcripts out of the Alma Mater. But we cannot sell because the schools have been closed for several months. Well, everything is opening up now and it can only get better. We also hope that NASU will not resume the strike, as the halting/resumption of the strike was meant to be temporary.

How does deteriorating power supply affect your cost of production?

Not Applicable.

What strategy have you adopted as a business to survive the covid-19 pandemic and how are you managing the cost of the business crisis?

The main strategies were also to stay safe. For the costs of doing crisis business, we fell back on our savings, reduced our budget and expenses, and finally, we focused on more important things to deal with.

Is the Nigerian business environment improving?

Anyone who answers yes to this question will be a liar. The sad answer is no. But then, we Nigerians are honest, so incredibly resilient. Thus, businessmen or women and entrepreneurs are those who are getting stronger in the face of the hardening of the business environment.

Gladys Bosu

Bosu is the founder of Gladyskitchen – a catering company that operates in Lagos, Ogun and Oyo states.

How do you cope with rising input prices?

I don’t think I have a choice when it comes to dealing with rising production costs. I have to find a way or another to adapt to the economy. For my part, a small increase in the price of my products is what I sought.

For example, I usually sell a bowl of soup for N7000 before, however, I increased it to N9000. For my cakes, I increased each size by N1500.

Do you earn much more money than before?

Am I making more money? No. It’s because the things we get for a given price back then are four times as much now. Record inflation and the exchange rate are limiting my company’s investments.

With higher investment, we don’t even catch up the old profit we made.

Are customers buying your products?

Despite the unbearable Nigerian economy, my local customers continue to buy my products.

How does deteriorating power supply affect your cost of production?

In my area, Ipaja, Lagos, poor power supply is affecting my business productivity as I stick to a gasoline generator. The more stable the power, the more profit I can make, compared to using a generator.

Also Read: How Nigerians are coping with the rising cost of living

What strategy have you adopted as a business to survive the covid-19 pandemic and how are you managing the cost of the business crisis?

When supplying my products to my customers, I had to ensure that social distancing and the use of nose marks are used by the people supplying the products, so that my customers do not shrink. It helped through the pandemic era.

For the cost of the business crisis, we are cutting our budgets and prioritizing our spending.

Is the Nigerian business environment improving?

I don’t think doing business in Nigeria is getting better because inflation keeps going up. This development demotivates business leaders, especially start-ups.

Sharon Samo

Samo is the founder of Adetutu brand – a clothing brand that manufactures women’s clothing, operating in the metropolis of Lagos.

How do you cope with rising input prices?

The current inflation has affected our production efficiency. The materials are more expensive, which makes it difficult to purchase them in large quantities. Materials that were once 1000N per meter are now sold at 1500N per meter. This leads us to use lower quality materials that are more affordable.

Do you earn much more money than before?

No. We don’t make money compared to before because of the high cost of production. Most of the time, we end up with little or no profit.

Are customers buying your products?

When it comes to sales, the situation is frustrating. Inflation has affected both our business and our customers. The increase in production expenses forced us to increase the price of our products.

Unfortunately, most of our customers end up leaving because they can’t afford to buy my products.

How does deteriorating power supply affect your cost of production?

The poor power supply affects our production costs, because as a fashion brand, we use a lot of electronics like sewing machines, iron and weaving machines, among others. However, we have no choice but to use our gasoline generator, which is another expense.

What strategy have you adopted as a business to survive the covid-19 pandemic and how are you managing the cost of the business crisis?

Luckily for me, my business started after the covid-19 pandemic. For the cost of business crisis, we source locally now and reduce costs.

Is the Nigerian business environment improving?

In my opinion, I don’t think the Nigerian business environment is improving, as there are different factors that negatively affect business growth in Nigeria, such as foreign exchange, inflation, unstable light, and financing.

Ugah Chukwuemeka

Chukwuemeka is the Executive Director of Legacy Building Solutions, an aluminum composite panel supplier, operating in Ibadan, Oyo State.

How do you cope with rising input prices?

The current cost of doing business is as difficult as getting started. Last year, we experienced four price increases from our suppliers. This has created some pressure on our finances and reduced our profit margin since we have to add cash to redeem.

In order to manage these regular price increases, we are more vigilant in the market, follow economic trends and make a price increase when necessary.

Do you earn much more money than before?

Compared to last year, we are making around 40% less profit per asset.

Are customers buying your products?

At the moment, customers continue to patronize. They understand the general situation.

How does deteriorating power supply affect your cost of production?

Our business does not depend on the use of energy, as we only supply aluminum composite panels.

What strategy have you adopted as a business to survive the covid-19 pandemic and how are you managing the cost of the business crisis?

We mainly deal with supplies and we had to maintain a good relationship with our suppliers and the logistics company. Construction workers were still going, so customers needed goods. We have increased the prices of our products to meet the cost of the business crisis.

Is the Nigerian business environment improving?

The Nigerian business environment is deteriorating as many 2020 start-ups could not survive. It would take solid capital with a good business strategy to deal with now.

GM delays back-to-office mandate after employee backlash

0

General Motors CEO Mary Barra speaks to reporters as they await the arrival of President Joe Biden during the North American International Auto Show media day in Detroit, Michigan on September 14 2022.

Rebecca Cook | Reuters

DETROIT — General Motors is doing some damage control around its return-to-work plans after a Friday afternoon message to employees sparked backlash and confusion.

The company’s management team said on Friday that company employees would be required to return to physical locations at least three days a week, starting at the end of the year, in what the company called for an evolution of its current remote work policies.

On Tuesday, a second post returned to that schedule and clarified that the company would not mandate specific workdays, instead leaving that decision to individual teams.

“Our plan has always been, and still is, to collaboratively design the solution that best balances the needs of the business with the needs of each of you,” reads the memo, which was signed by CEO Mary Barra and other executives, a copy of which was viewed by CNBC.

The follow-up message says no workers will be required to return to their offices until the first quarter of next year.

“While we have maintained a highly collaborative culture over the past two years during a very challenging time, the intangible benefits of in-person collaboration are going to be a critical success factor as we enter a period of rapid launches,” said said Tuesday’s message. . “This development aims to be ready for the next phase of our transformation.”

A GM spokesperson confirmed the authenticity of the post, saying it was “seeking to provide further clarity to help address some of the questions and concerns we have received.” She said the timing of the return to power has changed, but “the overall plan hasn’t really changed”.

Both messages are a step change from the automaker’s flexible “work appropriately” rules that were announced by Barra and welcomed by the company in April 2021. GM described it as a flexible and scalable policy that will differ by employee, week and project.

GM apologized on Tuesday for the timing of the original post and its vagueness. Executives said the previous communication was sent after some information about the company’s plan was shared prematurely with certain departments.

“We chose to communicate company-wide before we had the opportunity to collaborate more broadly on the implementation plan. We believe the benefits of being transparent – ​​even with a sub-optimal timeline and partial details – outweigh the risk of creating mistrust by having you hear the information at second hand,” the Tuesday post read.

GM said it will release more information late next month, as the company intends to spend the “next few weeks continuing to listen to your feedback so that we incorporate it into our implementation plans. “.

Shipping costs drop as demand for goods from Asia slumps

0

The cost of transporting goods from China has fallen to its lowest level in more than two years as the global economy stumbles, clouding the outlook for container carriers which have made record profits during the pandemic.

A 40ft shipping box from the world’s largest port of Shanghai to Los Angeles fetched $3,779 last week, the first time the spot price was below $4,000 since September 2020 and half the level three months ago, according to maritime research consultancy Drewry.

While the value of Chinese exports increased further in August, it is expected to continue to slow. It’s a symptom of the headwinds hitting developed and developing economies, from soaring inflation and a soaring dollar to central bank interest rate hikes and trade disruptions blamed on the war of Russia in Ukraine.

“It’s fair to say that the demand outlook for transpacific and container shipping in general is rapidly receding,” said Simon Heaney, senior director of container research at Drewry.

In what is usually the peak season for maritime trade, global demand for Chinese goods is on the contrary declining as consumers cut back on spending due to inflation and shift away from goods in favor of services.

Factories in Europe and the rest of Asia are also reducing production. China’s economic slowdown is also reducing import demand, with companies in Asia and Europe seeing weaker growth or lower orders from Chinese companies.

For the world’s shipping lines, it takes some relief from their busy sailing schedules, while threatening to slow a blistering profitability driven during the pandemic by stronger-than-normal consumer demand for household items.

“While it is more clear that the second quarter of 2022 will be a peak in earnings, I think any discussion of the collapse and return to pre-pandemic earnings levels – or lack thereof – is premature,” said John McCown, an industry veteran and founder of Blue Alpha Capital.

On Friday, shares of Copenhagen-based AP Moller-Maersk hit their lowest since March 2021, and Germany’s Hapag-Lloyd fell to the lowest since June last year. Cosco Shipping Holdings, China’s largest carrier, hit a 17-month low. Shares of Honolulu-based Matson, a smaller player that operated an Asia-U.S. express service across the Pacific, are worth about half the record they set in March.

About two years ago, import demand from the United States began to increase, causing a queue of freighters off the coast of southern California until 2021, which eventually peaked at 109 in January of this year. On Friday, the line to enter the ports of Los Angeles and Long Beach had eight ships.

US container imports are not falling off a cliff, but they are slowing to more normal levels seen before Covid-19.

A container ship docked at the Port of Oakland in California.  Getty Images

Steadily falling container spot rates are putting pressure on carriers who have been pushing to sign longer-term contracts with their customers as these prices soared in early 2022. Maersk, for example, recently said that he held around 72% of his contracts long-term. transport volume on contracts.

Walmart, Amazon.com and Ikea were among the companies that signed deals when spot prices were at near record highs, according to analytics firm Xeneta, but as inflation bites, importers in the states States and Europe want to ship less goods from Asia, he said. .

Many carrier customers want to renegotiate discounts.

Agents and freight forwarders in Asia have recently received calls from freight owners asking to reduce their shipping costs, with some exporters complaining of the unfairness of paying almost twice as much on contracts as on the spot market. Shipping companies want exporters to increase their volumes, but many are refusing to do so due to the weaker economic outlook.

“We surveyed customers and 50% of them successfully negotiated lower rates on fixed-term contracts,” said Peter Sand, chief analyst at Xeneta.

“Lower freight rates are due to lower demand globally, and port congestion has eased, allowing for more efficient vessel operations.”

Economists predict the value of China’s exports will rise 9% this year, down from the 13.5% expansion in the first eight months of the year and well below the 30% jump in l ‘last year.

While exports rose 7.1% in August from a year earlier, higher prices rather than increased volumes could play a bigger role in pushing the numbers higher. According to an estimate by the Macquarie Group, around half of the overall export growth in July was the result of price effects.

Some of the weaker demand reflects an earlier than usual peak season for U.S. businesses to import their goods. Historically, Chinese exports have risen sharply in the second half of the year, with US and European companies stocking up ahead of the holiday season, but this year there has been a surge in shipments in May. and in July, which then fell slightly in August. .

The port of Shanghai handled 8.4% less cargo in August compared to a year earlier, with the number of containers down 3.4%, the port said this month. This follows the drop in boxes arriving in the US – the number of containers arriving at the busiest US port of Los Angeles last month fell the most since the early days of the Covid-19 pandemic.

With no available capacity just six months ago, container lines are now scrambling to reduce excess capacity to meet demand. According to a report by Drewry on Friday, 117 of 744 crossings were canceled over the next month on major trade routes, and about 68% of those masked trips were to be eastbound trans-Pacific journeys.

The weakening outlook doesn’t just come from mainland China – Taiwan’s exports grew at the slowest pace in more than two years in August, while South Korea’s exports fell 8.7% over the past two years. first 20 days of this month.

Bloomberg Intelligence logistics analyst Lee Klaskow said the shipping industry could still have its third-best year in 2023, but the good times may not continue beyond that given all the new ships – ordered during this period of prosperity – which will begin to be launched. Next year.

Updated: September 27, 2022, 3:30 a.m.

Bank CEOs interviewed on consumer protection and social issues

0

From left, Wells Fargo & Company CEO and Chairman Charles Scharf, Bank of America Chairman and CEO Brian Thomas Moynihan, JPMorgan Chase & Co. Chairman and CEO Jamie Dimon, Citigroup CEO Jane Fraser , the chairman and CEO of Truist Financial Corp. William Rogers Jr., US Bancorp Chairman and CEO Andy Cecere and PNC Financial Services Group Chairman and CEO William Demchak attend an annual Senate Banking Committee Wall Street oversight hearing on Capitol Hill in Washington. (AP Photo/Jacquelyn Martin)

NEW YORK (AP) — CEOs of the nation’s largest banks who recently met with lawmakers on Capitol Hill have been urged by Senate Democrats to do more to help and protect their customers.

Bank executives have been called to testify before Congress at a time when prices for food and other basic necessities are at their highest in decades. JPMorgan Chase’s Jamie Dimon, Citigroup’s Jane Fraser and five others told lawmakers the US consumer is in relatively good shape but faces threats of high inflation and rising interest rates.

The senators’ early comments reflected lingering populist anger toward Wall Street more than a decade after the financial crisis as well as the looming election.

“You are among the most powerful players in our economy,” said U.S. Senator Sherrod Brown, D-Ohio and Chairman of the Senate Banking Committee. “Your entire industry and its important safety net are supported by American taxpayers. It is high time that the financial sector was as good for the American people as the country has been for you.

Although billed as day-to-day finance and industry oversight hearings, CEOs have also been given a healthy dose of electoral politics in both houses of Congress.

“Ms. Fraser, good to see you because you’re about the only diversity we’ve seen in this industry,” said U.S. Sen. Bob Menendez, D-New Jersey.

Menendez focused on overdraft fees, acknowledging that banks have made progress in reducing them, but also pushing CEOs to eliminate these fees altogether. Most CEOs said they now generally offer no overdraft fee products and expect to see their overdraft fee revenue continue to decline. Bank of America recently said its revenue from overdraft fees fell 90% from a year ago.

One of the most contentious discussions concerned Zelle, the private peer-to-peer payment network jointly owned by the banks. Zelle has come under scrutiny due to the growing number of complaints from bank customers unknowingly authorizing payments to scammers through Zelle and unable to recover their funds. Credit card fraud and scams, on the other hand, are usually covered by credit card companies.

Elizabeth Warren, D-Mass., pressed Banks on Zelle’s safety issue. While acknowledging that there are ways to improve Zelle, CEOs have attempted to differentiate Zelle from other peer-to-peer payment networks. CEOs have said that services such as Cash App, Venmo or PayPal have significantly higher fraud cases than Zelle.

“The problem is if a customer authorizes a transaction and it later turns out it was a scam, the banks shouldn’t be responsible for that,” said Brian Moynihan, CEO of Bank of America. He also said that scams make up a very small percentage of transactions made through Zelle.

Republicans have focused on social issues, including banks making the decision to pay employee abortion costs, gun rights and funding for the oil and gas industry. Several senators also referred to the influence that large asset managers like BlackRock and Vanguard have on companies when it comes to social policies, as asset managers are often the largest shareholder in many of these companies.

“I can’t help but observe that when the banks weigh in on highly charged social and political issues, they always seem to fall on the liberal side,” said Sen. Pat Toomey, R-Pennsylvania, the committee’s top Republican. . .

Dimon seemed to agree with Toomey’s assertion that federal regulators as well as asset managers have the power to influence banks on issues such as climate change or lending to oil and gas companies.

“As far as I’m concerned, (the regulators) are my judge, my jury and my executioner,” Dimon said. “They can do whatever they want unless they have to,” referring to Congress.

In response to a question about asset managers, Dimon joked, “This is causing a lot of consternation among companies.”

Alongside the CEOs of the big Wall Street megabanks were the CEOs of three regional banking giants: US Bank, Truist and PNC Financial. These three banks, with over $500 billion in assets, were appearing before the House and Senate for the first time.

Regional banks merged and grew rapidly, leading some leading Democrats in Congress to question whether they should be more tightly regulated like “too big to fail” banks such as JPMorgan and Citi.

“They’re more like Wall Street than Main Street these days,” Brown told reporters after the hearing ended. Her counterpart in the House — U.S. Rep. Maxine Waters, D-California — also called for tougher scrutiny of regionals.

Guardians of the property: companies accused of doubling rents | Property rental

0

Businesses that house residents in buildings that would otherwise be empty have been accused of raising costs during the cost-of-living crisis, with one company apparently raising some fees by more than 100%.

This means property custodians – those living in empty buildings such as old factories, offices, nursing homes and condemned housing – face steep increases. Some fear becoming homeless.

They pay less than the market rent, but the counterpart is that they have fewer rights and, often, poorer living conditions.

Property guardian companies act as intermediaries between landlords and those looking for cheap accommodation, and are used by councils and housing associations to provide affordable accommodation.

Residents sign licenses that offer fewer protections than a rental agreement and pay monthly license fees rather than rent. They must agree to vacate the property with only 28 days notice, and no warning should be given before an inspection of their home.

Activists say some people live in properties rented by the Dot Dot Dot security company were hit with fee increases of up to 113%.

The company describes itself as an ethical custodial business and tenants are required to complete 16 hours of volunteer work per month as part of their license agreement.

However, residents at its site in Abbey Wood, south-east London, say they were told in January they had six weeks to accept the increases.

The London Tenants’ Union, as well as some of the guardians, are contesting the hikes and calling for a boycott of the business.

Protesters are calling on the public to boycott Dot Dot Dot. Photograph: London Tenants Union

An Abbey Wood tenant, who has been a caretaker of the property for six years, said she asked Dot Dot Dot for more time to sign the new agreement as she was battling health issues and had to consider whether she could afford to pay £425 an extra month. The amount has since been reduced to a further £230.

She said she received a resignation notice – the equivalent of an eviction notice – in April and was threatened with legal action unless she moved by November, although she agreed to sign the new contract and start paying the additional fees.

She said: “I was in shock – I was absolutely touched and it made me really sick.

“I’ve always paid my fees, I’ve always volunteered, I’ve been a tutor for over six years.

“I don’t know what I’m going to do if they take me out – I have nowhere to go. I will be homeless.

A spokesperson for Dot Dot Dot denied that guardians who agreed to increased licensing fees after the deadline were at risk of homelessness, but confirmed it was taking legal action against some residents.

“Guardians who accepted pricing changes after our deadline are not subject to legal action. They continue to be hosted by us,” the spokesperson said.

“In a small number of cases, we take legal action against property guardians who have refused to honor the terms of their guardianship. We cannot comment on individual cases for confidentiality reasons.

The company said it suspended licensing fee reviews in 2020 due to the coronavirus pandemic, before resuming plans in 2022.

“This is partly for our own financial viability as a business, and partly because we need to bring older, lower fees in line with newer ones so that tutors pay similar fees for similar properties,” said Dot Dot Dot.

He said guardians were initially given six weeks’ notice of the changes, which was extended to 10 weeks, and most accepted the increase. Under the previous Dot Dot Dot structure, fees ranged between £185 and £860 per month. This rose to between £325 and £895, including council tax and utilities.

Private rents have also skyrocketed, making it harder for property custodians to join the mainstream rental market. The latest Zoopla data released this month shows an average annual increase of 12.3%, with typical London rents up 17.8%.

This is pushing some tenants into property guardianship as they seek cheaper options, and housing campaigners say this surge in demand is partly to blame for the rising license fees.

The Property Guardian Providers Association (PGPA) expects the number of people applying to be guardians to reach 50,000 this year, up from around 30,000 in 2021.

Robert Taylor, an organizer with the Camden Federation of Private Tenants in London, says some of these businesses see the cost of living crisis “not as a very difficult time to help and support people, but as an opportunity to get even more out of it, knowing full well that if they don’t like it, there are plenty of others who will pay, because they’re so desperate to put a roof over their heads.”

Graham Sievers, president of the PGPA, which represents three parent companies (not including Dot Dot Dot), said most licensing fees include utility bills, meaning prices have risen to reflect the huge increases in energy costs.

However, the Guardian has seen evidence of another firm raising charges by over £100 a month where tenants have to cover their own gas and electricity. Dot Dot Dot caretakers at Abbey Wood also pay their own utility bills.

Sievers also attributes the increases in the sector to rising maintenance and repair costs.

“The license fees have increased – some would say closing the gap with the private rental sector, but I disagree,” Sievers said.

He admits there has been ‘bad publicity over license fee increases’ but said: ‘I did a quick check of the custodian properties available today, and I can still see some significant stuff. . savings for this type of accommodation.

“The PGPA does not set or recommend dues levels within the association, but we do insist on good communication between member companies and their custodians, to give sufficient notice and justification for any increases,” it adds. -he.

However, Al Mcclenahan, from the group Justice For Tenants, said: ‘The crisis in the cost of living means that many of the poorest in our society simply cannot afford basic housing.

“It increases the demand for cheaper housing. The increase in demand means that the guardianship companies can raise their prices and make more money.

“It’s hard to see what reason a parent company could have for raising prices above the rate of inflation, other than to make more money.”

Landian Metaverse Live Auction Launches With Record

0

ALEXANDRIA, Va., Sept. 23, 2022 (GLOBE NEWSWIRE) — Austin Yavorsky, CEO and Founder of Landian (LNDA), announces that he has built the world’s largest working metaverse that is years ahead of anything that currently exists. The Landian Metaverse eliminates the shortcomings of existing metaverse marketplaces, makes participation more accessible to everyone, and is the future of Web3.

Landian Metaverse Level 1

“Landian is not a game,” Yavorsky said. “We are a platform to build the next iteration of the Internet where all the tools and resources are provided. Think of us as Web 3.0, child of WordPress, Shopify, Upwork and Instagram, all integrated into a remarkable experience where users develop meaningful solutions.”

The Landian Metaverse Tier 1 live auction sold a record 98,463,595 square meters of land equivalent to hundreds of thousands of NFTs. Over a four-day period, almost 400,000 transfers took place, topping the BSC charts. Landian is capable of accommodating millions of users simultaneously.

The Landian Metaverse is built in Unreal Engine 5 and uses the Binance Smart Chain (BSC). Smart contracts are integrated into immersive real-world experiences and graphics are delivered at speeds that far exceed anything currently available on the market. Users can purchase plots, construct buildings, and create unique experiences in the Landian Metaverse.

Plots are sold as NFTs and have actual value based on location, land mass and intended future use. Holders can develop their plots into unique homes, businesses, education centers, and experiences. Development is limited only by the imagination. Payment is made via crypto-commerce or traditional methods such as credit cards.

Web3 integrates decentralization, blockchain technologies and the token economy. The Landian Metaverse provides a hyper-realistic world that is functional and profitable for real-world individuals, businesses, and governments.

“Landian has succeeded in changing traditional perceptions of metaverse and blockchain technology.” Said Yavorsky. “While it’s unclear what Web 3.0 will look like in the future, the future of the Landian Metaverse looks bright.”

About Landian

Founded in 2019, its base of over 440 local and international employees supports the world’s most advanced metaverse for real-world solutions. Landian.io exists for people, businesses, organizations and cultures to engage seamlessly and without limits, making virtual worlds more interactive, accessible and easier to navigate. Featuring compelling incentives that drive user engagement and commerce, Landian is governed by a shared value system that benefits founders and users alike. The ability to evolve and thrive in Landian depends solely on effort, and becoming anyone or anything is limited only by imagination. With its top-notch centralized network for streaming services and a decentralized network, Landian.io is designed to counter the shortcomings of the common market, e-commerce and engagement in the existing metaverse market.

For the latest updates and information, join Landian’s Discord channel, follow on Twitter, or visit Landian.io

Social connections

Twitter: https://twitter.com/landianmeta

Facebook: https://www.facebook.com/landianmeta

Discord: https://discord.com/invite/landianmeta

Telegram: https://t.me/reallandianportal

Media Contact

Brand: Landian Metaverse

Contact Person: Media Team

Email: [email protected]

Website: https://www.landian.io/

THE SOURCE: Landian Metavers

New UK Finance Minister Kwarteng seeks to end ‘cycle of stagnation’

0

Kwasi Kwarteng arrives at number 10 Downing Street in London, Britain September 6, 2022. REUTERS/Phil Noble/File Photo

Join now for FREE unlimited access to Reuters.com

  • Kwarteng will make a statement to the UK Parliament at 08:30 GMT
  • Tax cuts, urban planning reforms and energy on the agenda
  • Plan could cost up to £200bn, economists say
  • British pound weakest against dollar since 1985

LONDON, Sept 23 (Reuters) – Britain’s new finance minister Kwasi Kwarteng will detail nearly 200 billion pounds ($225 billion) in tax cuts, energy subsidies and planning reforms on Friday, in the as part of Prime Minister Liz Truss’ attempt to end “Treasury orthodoxy”. ” and drive growth.

Truss beat former finance minister Rishi Sunak to the leadership of the Conservative Party – and with him, to the post of prime minister – largely while campaigning against tax hikes announced by Sunak in the wake of the coronavirus pandemic. COVID-19.

After a delay caused by the death of Queen Elizabeth – which came just hours after Truss set up an expensive grant scheme to tackle soaring energy costs – Kwarteng will present the new government’s program to parliament to 9:30 a.m. / 8:30 a.m. GMT.

Join now for FREE unlimited access to Reuters.com

Financial markets will also receive an upfront price for the proposals as the UK’s Debt Management Office will publish new borrowing plans after Kwarteng finishes his speech.

The market environment could hardly be more hostile for Kwarteng. The pound fell to its lowest level against the dollar since 1985 on Thursday, while British government bonds recorded their biggest one-day drop since the start of the pandemic. Read more

Much of the drop reflects the US Federal Reserve’s rapid hike in interest rates to tame inflation – which sent markets tumbling – but some investors are also wary of Truss’ willingness to borrow big to fund the growth.

Asked on Friday how Britain would fund spending while cutting taxes, a cabinet minister said economic growth was the answer. Read more

A Reuters poll this week showed that 55% of international banks and economic consultancies surveyed believed UK assets were at high risk of losing confidence. Read more

Consumer sentiment figures on Friday underscored the challenge facing Kwarteng, with household sentiment falling to its lowest level since records began in 1974. read more

The Bank of England on Thursday said the Truss energy price cap would limit short-term inflation, but government stimulus was likely to add to inflationary pressures, at a time when it is struggling against inflation approaching a 40-year high.

Paul Johnson, director of the Institute for Fiscal Studies (IFS) think tank, said the Truss and Kwarteng tax cuts could be the biggest since 1988 and risk putting Britain’s public debt on an unsustainable path .

The IFS, together with US bank Citi, estimates household energy subsidies will cost around £120bn over two years, while six months of business energy subsidies will cost £40bn. Read more

It is a one-off measure, and the biggest concern for the IFS is around £30bn in permanent tax cuts – starting with £14bn in payroll tax cuts, confirmed on Thursday, and £15bn in billion pounds of corporate tax cuts. Read more

A property tax cut on home purchases is also likely, according to the Times. Read more

However, despite the sweeping tax and spending measures, the government had decided not to release new growth and borrowing forecasts from the Office for Budget Responsibility, a government watchdog, until a more official budget. late this year.

For Kwarteng, tax cuts and deregulation are a way to end what he calls “a cycle of stagnation” that has driven tax rates to their highest levels since the 1940s.

“We are determined to break this cycle. We need a new approach for a new era of growth,” he is expected to tell parliament, according to speech excerpts released by his office.

One of the measures he plans to announce are “investment zones” which offer businesses generous but temporary tax breaks, as well as relaxed planning rules, to encourage the construction of shopping malls, apartment and office buildings.

“We will liberalize planning regulations on agreed specified sites, freeing up land and accelerating development,” Kwarteng is expected to say.

The British Chambers of Commerce (BCC) welcomed the proposal but said it should be more widespread.

“We need to see this reform across the country because it is currently too slow, complex and uncertain. It stifles business investment, expansion and growth,” said BCC chief executive Shevaun Havilland.

($1 = 0.8872 pounds)

Join now for FREE unlimited access to Reuters.com

Reporting by David Milliken; Editing by Kirsten Donovan and Catherine Evans

Our standards: The Thomson Reuters Trust Principles.

Clear Sky begins work on Project Halo

0

VANCOUVER, British Columbia, Sept. 22, 2022 (GLOBE NEWSWIRE) — Clear Sky Lithium Corp. (CSE: POWR) (FRA: K4A / WKN: A3DM2W) (OTC: CSKYF) (“Clear Sky” or the “Company”), a mining exploration and development company focused on U.S. lithium deposits to support the Domestic Demand, is pleased to announce that it has commenced work on the Halo Project property.

Clear Sky has begun a Phase 1 work plan for the Halo project which will be undertaken by Tigren Inc. of Reno Nevada and is mobilizing for the start of work in October. Tigren Inc. is controlled by Marco Montecinos, director of the Company. The objective of the program is to develop an understanding of the alluvial cover of the Big Smoky Valley Basin throughout the Halo Project lands via full surface point sampling (if applicable) as well as surficial mapping of the claim area. The resulting data will be used to refine geological and metallurgical assessments to support Phase 2 drilling targeting.

Patrick Morris, CEO of Clear Sky Lithium, notes: “To be directly between two projects that continuously produce such positive results confirms that Clear Sky is in the right place with the Halo project. We are excited to have our team on hand to drive the project forward through fundamental fieldwork and metallurgy. So far, it’s just great to see our neighbors enjoying positive results, and we look forward to joining them as we collectively move forward to unlock asset value across the region.

The Halo Project (see Figure 1) comprises ninety-eight mining claims, located in Esmeralda and Nye counties, and is considered prospective for clay-hosted lithium mineralization. Positive news regarding exploration and development on properties adjacent to the north and southwest of the Halo project has recently fueled enthusiasm for regional lithium exploration activities in the region.

Figure 1 – Clear Sky Lithium Halo project map showing assay values ​​of adjacent properties (American Lithium’s TLC project to the northeast and American Battery Technology Company’s Tonopah Flats project to the southwest).

North of Project Halo, July 14e 2022, American Lithium Corp. (market cap: US$546 million) announced the results of its resource expansion and infill drilling program. This release included 5 holes that returned their best result to date of 2,900 ppm Li with an average of 1,550 ppm Li over 50.3 meters. Please see American Lithium’s website for full disclosure of exploration results.

In the southwest, June 21st In 2022, American Battery Technology Company (market cap: US$461 million) announced highlights from a 16-hole Phase 1 drill program that returned up to 1,700 ppm Li.

Clear Sky Lithium advises the public that as part of its disclosure obligations as a public issuer, all filings and regulatory filings may be viewed at www.sedar.com. We also invite the public to visit our website at www.clearskylithium.com and sign up for our “News Alerts” to be notified of future press releases and related company information. Also be sure to watch our video which is available on the website.

On behalf of the Board of Directors,
Sincerely,

~Patrick Morris~

patrick morris
Chief executive officer
Clear Sky Lithium Corp.
www.clearskylithium.com

About Clear Sky Lithium Corp. (CSE: POWR) (FRA: K4A / WKN: A3DM2W) (OTC: CSKYF)
Clear Sky Lithium is an exploration and development company dedicated to advancing North American lithium deposits to support domestic demand. The Company holds interests in the Halo and Eli properties in Nevada. The Company is also focused on developing clay mining and processing technologies aimed at delivering scalable efficiencies across the value chain in a sustainable manner. To learn more, visit www.clearskylithium.com and watch our video.

Disclaimer Regarding Forward-Looking Information

This press release contains statements and information which, to the extent that they are not historical facts, may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may include financial and other projections, as well as statements regarding future economic plans, objectives or performance, or assumptions underlying any of the foregoing. In some instances, forward-looking statements may be identified by words such as “may”, “would”, “could”, “will”, “likely”, “unless”, “anticipate”, “believe”, “have the ‘intention’, ‘plan’, ‘forecast’, ‘project’, ‘estimate’, ‘prospect’, or their negative form or other similar expressions relating to matters which are not historical facts. Examples of such statements include, but are not limited to, statements regarding the commencement of work on the Halo project.

Forward-looking information is based on management’s assumptions, estimates, analyzes and opinions made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances as of the date such statements are made, but which may prove to be incorrect. Important factors and assumptions used to develop the forward-looking information contained in this press release include, but are not limited to, key personnel and qualified employees who continue their involvement with the company; the Company’s ability to obtain additional financing on reasonable terms; the competitive conditions of the industry in which the Company operates; and the laws and their amendments applicable to the Company.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the information. forward-looking, including, without limitation, risks related to the Company’s future business plans; the risks that the Company may not be able to retain its key personnel; the risks that the Company may not be able to obtain financing on reasonable terms or at all, as well as all other risks described in the Company’s final long form prospectus dated May 31, 2022, under the heading “Factors of risk”. Accordingly, readers should not place undue reliance on such forward-looking information. Further, any forward-looking information speaks only as of the date such statement is made. New factors emerge from time to time, and it is not possible for the management of the Company to predict all of these factors and to assess in advance the impact of each of these factors on the Company’s business or the extent to which any factor, or combination of factors, could cause actual results to differ materially from those contained in the forward-looking information. The Company undertakes no obligation to update forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unforeseen events, except as required by law, including securities laws.

The CSE has neither approved nor disapproved of the content of this press release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION

Clear Sky Lithium Corp.
Investor Relations
Email: [email protected]
Phone: +1 (778) 383-7240

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1ac467bd-70f2-41d8-8505-05816c2cdb23

Global Fund private sector partners pledge record levels of support to end AIDS, TB and malaria and strengthen health systems – Global

0
  • Over $1.23 billion in pledges, up from $1.13 billion in the Sixth Replenishment.
  • $136 million for catalytic initiatives designed to accelerate progress in a range of critical areas, from digital health to laboratory systems to community health workers.
  • US$250 million in innovative financial investments to support access to innovation and increase national capacity.
  • Over US$30 million in vital non-financial resources and capacity to support digital health, build stronger supply chains, and improve behavior change approaches and prevention programs.

NEW YORK — At the Seventh Global Fund Replenishment Conference, private sector partners committed more funding, in-kind support and catalytic investments than ever before to end the three killer diseases. This pledge and call to action for other partners to join us was led by the Bill & Melinda Gates Foundation, which committed a record $912 million, and (RED), which pledged $150 million. With 11 private sector partners continuing their support and 16 new partners committing for the first time, total funding pledged increased to $1.23 billion, an increase of $108 million from the Sixth Replenishment.

The pledges included financial support from:

  • Rotary Australia World Community Service ($4.8 million)
  • AIDS Healthcare Foundation ($10 million)
  • Comic Relief US ($6 million)
  • Nu Thuy Duong ($3 million)
  • Catholic Relief Services ($3 million)
  • Takeda (JPY 376 million)
  • Plan International ($2.3 million)
  • GSK and ViiV Healthcare (GBP 2 million)
  • JC Flowers Foundation ($1 million)
  • SMJR Foundation ($1 million)

The Eka Tjipta Foundation ($2 million), Kalbe ($1.5 million), the Paloma Foundation ($1 million), and the Tanoto Foundation ($1 million) have also pledged to support the Indonesian government’s commitment, and Anglo American ($0.5 million) and ABSA ($0.15 million) also supported the South African government.

The Global Fund partnership announced catalytic investments to accelerate growth and drive innovation adoption across a number of critical pillars of change in its strategy, including:

  • The Children’s Investment Fund Foundation, which has pledged US$33 million to accelerate progress in the fight against HIV transmission by increasing equitable access to medications like pre-exposure prophylaxis.
  • Johnson & Johnson (J&J) and the Skoll Foundation will together provide $25 million as a base investment in a fund to accelerate the professionalization of community health workers, the backbone of last-mile healthcare.
  • The Rockefeller Foundation and the Abbott Fund have committed a total of US$20 million in a catalytic fund to strengthen laboratory systems in countries, strengthen regional collaboration, and strengthen information systems for data sharing.
  • A fund designed to accelerate countries’ digital health transformation will be backed by Anglo American and the Anglo American Foundation with US$15 million, plus co-investment commitments worth at least US$23 million. US dollars from Dimagi, Medic Mobile, Medtronic LABS, Novartis Foundation, Orange and Zenysis.
  • SC Johnson and J&J, alongside Project Last Mile, celebrating 10 years of partnership, are committed to using their expertise and best practices from the private sector to dramatically improve and accelerate the impact of precision behavior change in programs of prevention. Roche will provide technical assistance to improve laboratory sample transport systems and waste management. Thomson Reuters is committed to increasing efforts to reduce human rights barriers to health.
  • Malaria No More and the Health Finance Coalition (HFC) launched the Outcomes Fund for Fevers (OFF) in partnership with The Global Fund, Global Citizen, NPX and the Clinton Health Access Initiative (CHAI). The Fund aims to raise an initial amount of US$25 million to improve the quality of digital fever testing, treatment and reporting through the private sector in sub-Saharan Africa.

“To beat HIV, TB and malaria, we need innovation, and we need to make sure it reaches the people who need it most. This scale of funding and the commitment of private sector expertise will help us transform millions of lives,” said Peter Sands, Executive Director of the Global Fund. “Our partners are showing incredible leadership. We will not beat these diseases without the private sector continuing to step in.”

In New York, the event> September 19 showcased the range of private sector partnerships designed to address critical issues and bottlenecks in the fight against the three diseases, with support spanning a wide range of industries – including digital health , telecommunications, marketing, finance, pharmaceuticals and life sciences, as well as fast moving consumer goods (FMCG). He also highlighted the importance of the voice of civil society, especially young women and girls, in designing solutions and deploying private sector resources.

“The Global Fund is leveraging the power of private sector innovation and expertise and rapidly expanding access to new solutions for the most vulnerable people, accelerating progress in key priority areas and strengthening national capabilities in the countries in which we invest,” said Sherwin. Charles, a Global Fund board member representing the private sector and CEO of Goodbye Malaria, who also pledged $5.5 million.

Two partnerships recognized the need to mobilize other forms of investment to accelerate innovation and build national capacity. In line with the Global Fund’s mission to eliminate HIV, TB and Malaria, MedAccess will deploy at least US$150 million of its capital to secure price and volume agreements to accelerate patient access to affordable new products, and HFC intends to launch a US$100 million investment fund program to scale innovative healthcare models in Africa.

Closing the event, Dr. Donald Kaberuka, Chair of the Global Fund Board, said, “I would like to thank the private sector for responding to our call to action. We must reinvigorate the world to defeat AIDS, tuberculosis and malaria. We will not defeat these diseases alone, we will defeat them together with the public, private and civil society movement embodied in the Global Fund. This unprecedented set of resources will allow us to save millions more lives and even more livelihoods. , we will need to mobilize even more action, and we invite more philanthropists, foundations and corporations to join our movement.”

Hong Kong Court of Appeal Upholds Dismissal of Improper Selling Claim Filed Against Major Bank

0

September 21, 2022

Click for PDF

The Court of Appeal (the “California”) recently delivered judgment CACV 483, 484 & 485/2018 (Shine Grace Investment Ltd v Citibank, NA and Anor), affirming the District Court’s decision to dismiss plaintiffs’ claims for alleged misuse of stock accumulation contracts by Citibank, NA (the “Bank”).

The CA decision reaffirms the principle that, in determining the extent of a bank’s duty of care to a customer, the Court places significant weight on the relevant factual circumstances (including the nature of the parties’ transactions and the relative sophistication of the client) as well as the terms of the contractual documentation. It should be noted in particular that the mere fact that the bank advises a client voluntarily cannot be interpreted as meaning that it has assumed the legal obligation to advise on the suitability of investments.

  1. Background

The litigation involved three related actions. The main action related to claims made by Shine Grace Investment Ltd (“shine grace”), an investment vehicle owned and controlled by Ms. Anita Chan (“Ms Chan”) until his sudden death on October 17, 2007, that the Bank had mis-sold nine equity accumulation contracts (the “CA disputed”) to Shining Grace on October 15 and 16, 2007. The other two actions were brought by Shinning Grace’s two guarantors, Shinning International Holdings Limited (“bright”) and Bonds & Sons International Limited (“BSI”), seeking to challenge the Bank’s transfer of funds from Shinning and BSI’s accounts to meet Shine Grace’s outstanding debt.

Three of the nine disputed CAs were eliminated in October/November 2007. Since November 20, 2007, the Bank had required Shine Grace to post additional margin collateral, but Shine Grace (then controlled by Ms Chan’s children after her death ) waived Challenged the NOCs and asserted that they were invalid and unenforceable. The remaining six disputed CAs were closed and settled by the Bank in January 2008. Shine Grace incurred losses totaling approximately HK$478 million, which included the costs of unwinding the disputed CAs (over HK$427 million) and losses of approximately HK$51 million from the sale of accumulated shares in connection with the disputed CAs.

The trial of the three actions took place before the Honorable Judge Ng (“Ng J”) in November and December 2017, lasting 13 days. On July 30, 2018, Ng J rendered judgment dismissing the three actions, holding that (i) the Bank did not owe Shine Grace the alleged duty to advise, (ii) even if such a duty existed, the Bank did not did not have the breach and (iii) the alleged breach of duty did not cause Shine Grace’s losses. Shine Grace, Shinning and BSI appealed the judgment of Ng J.

  1. The judgment of the CA

The CA dismissed the appeal on September 9, 2022, upholding Ng J’s findings regarding each element of Shine Grace’s claims.

2.1 Duty of care

The CA confirmed that the Bank was under no obligation to advise Shine Grace on the suitability and risks of disputed CAs, regardless of any recommendations or suggestions that may have been made to Shine Grace during their relationship.

With reference to Chang Pui Yin v Bank of Singapore Ltd [2017] 4 HKLRD 458, the CA noted that the starting point is that banks are not normally required to advise customers on the prudence or risks of their investments. However, the scope of a bank’s duty of care is very fact-sensitive and depends on the precise nature of its relationship with the customer.

The CA observed that a huge body of evidence (including no less than 680 pieces of audio recordings) was available before the trial judge as to the relationship between the parties, and it would not be appropriate for the CA to go into its own findings of fact in an unfocused review of such evidence. The trial judge was entitled to conclude from the evidence that Ms. Chan, being a shrewd and experienced investor, had her own investment strategy and did not rely on any investment advice from the Bank; the Bank mainly followed Ms. Chan’s instructions to facilitate the execution of transactions.

The CA also agreed with Ng J’s interpretation of clause 4.12 of the Master Derivatives Agreement, which clearly had the effect of disclaiming any obligation on the part of the Bank to give advice or make recommendations to Shine Grace. The substantive parts of the clause provided the following:

“You understand and agree that:

(a) the above brief statement cannot disclose all the risks and other important aspects of the derivatives market and you should therefore consider derivatives transactions carefully before trading;

(b) in respect of services we render on a non-discretionary basis,

(i) you make your own judgment regarding transactions;

(ii) we assume no obligation to give advice or make recommendations;

(iii) if we make suggestions, we assume no responsibility for your portfolio or for any investment or transaction made;

d) in either of the above cases,

(i) we and our affiliates may fill positions for ourselves or for other clients that may not be consistent with suggestions from our officers or employees or with discretionary management for you; and

(ii) all associated risks and losses incurred as a result of our entering into transactions for you are for your account. »

The CA pointed out that the mere fact that the bank volunteered to give advice cannot be interpreted to mean that the bank must have assumed legal responsibility to advise a client on the suitability of their investment.

The AC also rejected the argument that the Code of Conduct for Persons Licensed or Registered with the Securities and Futures Commission (the “SFC code”) should illuminate the common law obligations to which the Bank was subject. The SFC Code cannot “create” a duty of care that does not exist under common law.

2.2 Breach of duty

Having concluded that the Bank was under no obligation to advise Shine Grace on the disputed CAs, it was not strictly necessary to consider the issue of breach of duty. Nevertheless, the CA considered that there was no breach of duty on the part of the Bank.

The CA upheld Ng J’s evaluative conclusion that the disputed CAs were not unsuitable for Shine Grace. Ms. Chan was a knowledgeable investor and had her own team to monitor her investments and compile regular reports. It is not for the Bank to “micro-manage” Ms. Chan’s financial affairs and she cannot be considered to have failed in her duty by not advising her in these circumstances.

The CA also rejected the argument that there was inadequate or unsatisfactory disclosure of the material risks of the challenged CAs in the contract documentation.

2.3 Causality

The CA held that Ng J was entitled to conclude, based on the available evidence, that Ms. Chan would have entered into the contested CAs anyway; to suggest that the Bank could have somehow dissuaded Ms. Chan from participating in the disputed CAs by advising her that they were unsuitable was highly speculative. Accordingly, Shine Grace failed to establish causation.

  1. comments

The CA decision reaffirms the long-established legal principle that the appellate court will only interfere with findings of fact if there are manifest errors identified that are material enough to undermine the conclusion of the appeal. trial judge. Here, the trial judge’s task was to review voluminous audio recordings and receive days of oral evidence, and he was entitled to draw the evaluative conclusions he did. The CA found that Shine Grace did not identify any manifest error made by the trial judge to interfere with his findings of fact.

It should be noted that since the reform of the Professional Investor Regime by the Securities and Futures Commission (entry into force on June 9, 2017), when a written client agreement is required, it must include an adequacy clause. following effect:

“If we [the intermediary] solicit the sale or recommend any financial product to you [the client], the financial product must be reasonably suitable for you, taking into account your financial situation, your investment experience and your investment objectives. No other provision of this agreement or any other document which we may ask you to sign and no statement which we may ask you to make derogates from this clause.

Requiring a mandatory adequacy clause would undermine the effect of non-dependency provisions such as that of the derivatives master agreement mentioned above.

In any case, shine grace remains an important case that illustrates the value of having clear contractual documentation and contemporaneous records of transactions, which would illuminate the scope of any legal obligations assumed by a bank to its customers.


Gibson Dunn attorneys are available to answer any questions you may have regarding these developments. Please contact the Gibson Dunn lawyer you usually work with, or the following authors and lawyers in the firm’s Hong Kong Litigation Practice Group:

Brian Gilchrist (+852 2214 3820, [email protected])
Elaine Chen (+852 2214 3821, [email protected])
Alex Wong (+852 2214 3822, [email protected])
Andrew Cheng (+852 2214 3826, [email protected])

© 2022 Gibson, Dunn & Crutcher LLP

Publicity for Lawyers: The attached materials have been prepared for general information purposes only and are not intended to be used as legal advice.

Juva Life Announces Flōs, a New Line of Branded Cannabis Flower Products

0

Juva Life Inc.

New line of branded cannabis products diversifies company’s product offerings; Complete pharmaceutical research

VANCOUVER, British Columbia, Sept. 21, 2022 (GLOBE NEWSWIRE) — Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRANKFURT: 4VV) (“Juva Life”, “Juva” or the “Company”) , a life sciences company with pharmaceutical research and development and consumer cannabis production and distribution, today announced the launch of the company’s new product line, Flōs, a brand line of flower and pre-rolled cannabis products.

“Our Flōs line provides consumers with high-quality cannabis products without paying the highest prices, and further expands our product category to capitalize on the massive market growth in California,” said Doug Chloupek, CEO and founder of Juva. “We are delighted that the completion of construction of our Stockton cultivation facility has doubled our production capacity, enabling us to offer new consumer packaged products that our customers demand.”

Flōs is the Latin word for flower or bloom, and the unique beauty of the cannabis flower is on full display with Juva’s new product line. With eight-ounce quantities, pre-rolls in one-gram quantities, and half-ounce florals, these meticulously selected cultivars are economical without sacrificing quality.

The Flōs line of flowers is available for distribution statewide in California, and is also available through Juva Delivery, which is a vertically integrated division of Juva Life, Inc.. Juva Delivery also offers contactless prepayment options through Paytender, a secure, free online payment service. The Flōs line of flowers will also be featured in the future at the company’s upcoming retail store, which has been approved for licensing by the City of Redwood City and is currently under construction.

Every Flōs product starts with the highest quality cannabis cultivars grown in the company’s 30,000 square foot cannabis cultivation facility in Stockton, California. Once harvested and dried, the material is then transferred to Juva’s distribution division for final processing and distribution throughout the state. To find locally available products in the San Francisco Peninsula area, visit here.

ON BEHALF OF COUNCIL,

-Doug Chloupek-

Doug Chloupek, CEO and Founder

Juva Life Inc.

[email protected]

About Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (ENG: 4VV)

Juva Life uses cutting-edge science to discover, develop and market safe and effective pharmaceutical and wellness products, both in the cannabis consumer segment and in the non-cannabinoid medical industry. The company is successfully executing on its 2018 roadmap, initially starting with the standardization of cultivation, extraction and formulation to deliver repeatable benefits to consumers. Juva is building on these skills in natural product process chemistry, to now include discovery pharmacology. The Company will leverage revenues from its retail operations to advance its clinical development and consumer efforts of Juva-019 and Juva-041, as well as other potentially valuable non-cannabinoid bioactives with important applications in consumer products and pharmaceuticals. Juva strives to challenge the cannabis market with the industry’s investment-grade, next-generation business model. Learn more about: https://juvalife.com/.

For more information, please contact:

Juva Life Investor Relations

Such : +1 833-333-5882 (JUVA)

E-mail: [email protected]

Forward-looking statement

This press release contains statements and information which, to the extent that they are not historical facts, may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may include financial and other projections, as well as statements regarding future economic plans, objectives or performance, or assumptions underlying any of the foregoing. In some instances, forward-looking statements may be identified by words such as “may”, “would”, “could”, “will”, “likely”, “unless”, “anticipate”, “believe”, “have the ‘intention’, ‘plan’, ‘forecast’, ‘project’, ‘estimate’, ‘prospect’, or their negative form or other similar expressions relating to matters which are not historical facts. Examples of such statements include, but are not limited to, statements regarding the Company’s objectives and business plans; product development, marketing strategy and future collaborations.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the information. forward-looking, including, without limitation, risks related to the Company’s future business plans; the risks that the Company may not be able to retain its key personnel; the risks that the Company may not be able to obtain financing on reasonable terms or at all, as well as all other risks described in the Company’s management report for the financial year ended December 31, 2020 under the section “Risks and uncertainties”. Accordingly, readers should not place undue reliance on such forward-looking information. Further, any forward-looking information speaks only as of the date such statement is made. New factors emerge from time to time, and it is not possible for the management of the Company to foresee all of these factors and assess in advance the impact of each of these factors on the Company’s business or the extent to which any factor, or combination of factors, could cause actual results to differ materially from those contained in the forward-looking information. The Company undertakes no obligation to update forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unforeseen events, except as required by law, including securities laws.

CSE does not accept responsibility for the adequacy or accuracy of this release.

Poor Data Management Could Cost You Millions

0
  • Missed renewals can typically result in a 20% to 30% increase in rents
  • Ensuring people have the right skills can help improve data quality
  • Ideally, data should only be entered once

Data seems like a double-edged sword – a blessing if understood, but a costly burden in terms of time and money if not. As a business grows, keeping tabs on all the necessary information becomes more complicated – and more important.

JLL’s new Garbage In, Garbage Out: The Importance of Data Governance report found that real estate is the second largest cost for most organizations after staffing costs. So it’s no surprise that better real estate management can lead to welcome efficiencies.

A significant cost

In one example, the JLL report noted that if one forgets to renew a lease well in advance because the information could not be found, a last-minute new contract could see rents increase by millions of dollars. JLL said a single missed lease renewal typically results in a 20% to 30% increase in rental rates.

In other examples, the report highlighted the importance of long-term solutions:

“Often times, companies spend time and expense cleaning up data and neglect to address ongoing data governance.”

Garbage In, Garbage Out: The Importance of Data Governance, JLL

Due to this negligence, data quality issues plague the system.

Four problems leading to bad data

The four issues highlighted in the report are:

  1. Treat,
  2. Technology
  3. Employee skills, and
  4. Governance

The process can include things like inefficient procedures such as data re-entry.

Technology is more multifaceted, but one of the key takeaways was to take note of the move towards integrated workplace management systems.

“A key principle of data quality is that any information should only be entered once, and IWMS solutions generally follow this practice.”

While it may seem obvious, ensuring people have the right and relevant knowledge is another piece of the puzzle. Without the right skills, data entry or errors may go undetected through the process.

Finally, the report recommends that there be “data stewards” or persons responsible for data within each functional area of ​​CRE. Together they can establish quality control procedures, audits, etc.

JLL Sales Manager, Work Dynamics Nick Moore said, “Some organizations don’t trust the quality of data in their system. They are unsure of the timeliness and accuracy of their data, even though for most non-manufacturing businesses in Australia, data systems are their second biggest cost after payroll.

“As property managers, we hear a lot of exasperated complaints about ‘useless reporting’ and ‘why can’t there be only one version of the truth?’

“With a tidy and well-integrated data system, created by a specialist and then managed by ‘data stewards’ among your staff, efficiency gains will occur, money will be saved and many of those headaches will go away. .”

Mr. Moore suggested a four-point plan:

  1. Start with a business process review and try to identify data gaps.
  2. Check reports and screen queries for errors. If none are found initially, go back to trace the origin of the data.
  3. Improve the skills of your employees. Not everyone is a data entry wizard. Additionally, it can be difficult for employees to know the importance of certain data if they cannot see the big picture. A clear context can help prevent inconsistencies.
  4. Good data governance: for each of the functional areas of your business, identify an employee who can serve as a data steward, responsible for reviewing and managing data to high quality standards and organizing audits regular.

Information is the intangible wealth of a business, so keep it clean and treat it like gold.

China digs deep to boost coal production to record high (Kemp)

0

Content of the article

LONDON — China’s coal output has surged this year as the government seeks to improve energy security by reducing import dependence and hoarding stocks at power plants.

The increase in domestic coal production is in line with Beijing’s broader efforts to indigenize supplies of essential energy sources, raw materials and technologies.

Content of the article

Production hit a record 2,929 million tonnes in the first eight months of 2022, according to China’s National Bureau of Statistics (“Monthly Output of Energy Products”, NBS, September 16).

Advertisement 2

Content of the article

Mining production increased by 332 million tonnes (13%) compared to the same period in 2021 and by 520 million tonnes (22%) compared to the last pre-pandemic year in 2019.

Generation has increased faster than coal-fired power generation as the government attempts to increase fuel stocks and reduce import dependency (https://tmsnrt.rs/3qQFZPd).

Thermal power generation, almost entirely from coal, set a new record of 3.883 billion kilowatt hours (kWh) in the first eight months of the year.

But thermal production only increased by 10 billion kWh (0.3%) compared to 2021 and by 497 billion kWh (15%) compared to 2019.

Large increases in wind farms, solar farms and, until this summer’s drought, hydroelectric plants have also reduced the need to burn more coal.

Advertisement 3

Content of the article

As a result, the share of coal-fired generators in total electricity generation fell to 69% in the first eight months of 2022, from 72% in 2021 and 2019.

This has translated into improved coal stocks held by power generators after they became dangerously depleted last year.

Coal and lignite imports also fell to 168 million tonnes in the first eight months of 2022, from 198 million tonnes in 2022 and 220 million tonnes in 2019.

Part of the reduction is due to disruption caused by repeated shutdowns to control the coronavirus outbreak that has hit iron and steel production.

Coal imports include both high quality coking coal for blast furnaces and low quality coal for power stations.

But the massive expansion of domestic production has allowed China to increase production and replenish stocks without having to source more fuel from exporters.

Advertisement 4

Content of the article

DROUGHT THREAT

Since late June, however, the severe drought that has hit the Yangtze basin has reversed some of these favorable trends and rekindled energy security concerns.

Low levels of hydropower generation have forced China to rely more on coal-fired power plants and draw more on coal supplies since the start of July.

If the drought persists, the electricity supply is likely to be particularly tight during the winter peak, when hydro and solar generation will be lower while heating and lighting loads will increase significantly.

The country is still plagued by transmission constraints, despite massive construction of very high voltage transmission corridors from west to east and north to south, causing power shortages at the provincial level.

Advertisement 5

Content of the article

But without the sharp increase in mining production at the start of this year and the build-up of stocks in the spring and summer, energy supplies would be even more strained.

As a result, the overall coal and power supply situation looks more comfortable than at the same time last year, when coal inventories fell to critical levels.

In recent days, more normal seasonal rainfall in the Yangtze basin has eased some pressure on water levels, which should also relieve some of the pressure on coal stocks.

Futures prices for coal delivered in December 2022 fell to $131 a ton from $148 at the start of the month, although they are still up from $116 at the start of this year.

Associated columns:

– Drought in China heightens fears of global coal shortage (Reuters, September 6)

– Global coal-fired power generation in 2021 hits record high (Reuters, July 21)

– Closures and heavy rains in China ease coal shortage (Reuters, June 21)

John Kemp is a market analyst at Reuters. The opinions expressed are his own (Editing by Alexander Smith)

Advertising

comments

Postmedia is committed to maintaining a lively yet civil discussion forum and encourages all readers to share their views on our articles. Comments can take up to an hour to be moderated before appearing on the site. We ask that you keep your comments relevant and respectful. We have enabled email notifications. You will now receive an email if you receive a reply to your comment, if there is an update to a comment thread you follow, or if a user follows you comments. Visit our Community Rules for more information and details on how to adjust your E-mail settings.

Assaults Top Killeen-Fort Hood Weekend Crime List | Crime

0

Police reports from the area said:

No state broke treasury with freebies – TN Finance Minister Thiaga Rajan on Modi’s caution

0

Chennai: Returning to Prime Minister Narendra Modi’s targeting of opposition parties over the giveaway issue in recent months, Tamil Nadu Finance Minister Palanivel Thiaga Rajan said on Saturday that no Indian state had yet caused the breach of the Treasury.

Asking on what basis the union government tells the states how to spend money as long as borrowing (by the states) is within the limit, Rajan also asserted that people elect governments on the basis of how whose money they spend.

“I have yet to see a state where the provision of gifts has broken the treasury or the balance (the financial balance of the state)…I don’t think there is a state that has violated the borrowing limit and went bankrupt,” Rajan said.

The Tamil Nadu Finance Minister was speaking at a conference in memory of the famous literature enthusiast, chartered accountant and co-founder of the Manthan public forum, the late Ajay Gandhi, in Hyderabad.

This is not the first time that Rajan has hit out at the union government and Prime Minister Narendra Modi over the latter’s criticism of ‘revadi’ culture.

In July, Modi, at the inauguration of the Bundelkhand highway in Uttar Pradesh, warned of the “revadi culture” of giving gifts for votes, and also said the practice was “very dangerous” for the country.

The following month, Rajan lashed out at the comments and asked on what constitutional basis or special expertise the Center was advising states on this, and why should states change their policy.

On Saturday, Tamil Nadu’s finance minister said state borrowings are often assessed under the Fiscal Responsibility and Fiscal Management (FRBM) Act 2003, which sets limits on debt and fiscal deficit under certain conditions.


Read also: Rajinikanth to Dhanush, how Tamil stars portrayed the ‘free’ policy


“Tamil Nadu contributes enormously to the national treasury”

“Why should the Union government or anyone else tell us how we should spend our money while borrowing is under the limits?” Rajan asked, adding on what basis should states listen to the union government without a proven track record of effective Center debt management.

At a meeting in April, senior officials had warned the Prime Minister of the drain on resources caused by the culture of giveaways, citing the possibility that a crisis similar to that in Sri Lanka could emerge in some of these states.

Rajan questioned whether the Center had performed better than any state in dealing with debts, adding that every year states received two letters from the union government warning against borrowing.

He also pointed out how Tamil Nadu was a huge net contributor to the national treasury.

Calling the complex GST (goods and services tax) models, with tariff structures and multiple exemptions, Rajan said GST Board meetings have never had conversations based on the data submitted by the States.

Rajan also underscored the importance of decentralization of power and local governance in the country, adding that the capacity for execution suffers if governance is done at the same time.

(Editing by Poulomi Banerjee)


Read also: ‘Gifts aren’t bribes, but shake the root of fair polls’ – what SC said in 2013 to consider reviewing


National logistics policy to facilitate the conduct of business and reduce transport costs: Industry

0

The National Logistics Policy, unveiled by Prime Minister Narendra Modi, will further improve the ease of doing business and drastically reduce transport costs, according to Indian industry.

The policy aims to address the challenges facing the transport sector and reduce the logistics cost for businesses by 13-14% of GDP to single digits in the coming years.

“Reducing logistics costs and increasing logistics efficiency will boost the economy in all sectors in multiple ways and bring us several steps closer to emerging as a global manufacturing powerhouse,” said the CEO of CII, Chandrajit Banerjee, in a statement.

He said that in addition to improving the ease of doing business, it would help ensure faster and smoother movement of goods and people across modes of transport – water, air, roads, railways.

Sharing similar views, Assocham said the policy will significantly reduce transaction costs along the supply chain.

“Enabled by different technologies, the policy focuses on unified measures across different logistics modes, including roads, railways, ports, airports and warehousing, which will give decisive advantage to the ease of doing business in India,’ the chamber said.

Jagannarayan Padmanabhan, Director and Practice Leader – Transport and Logistics, CRISIL, said it was a holistic effort to increase efficiency in all aspects of the logistics value chain.

Over the past five fiscal years, the government has invested nearly Rs 15 lakh crore in increasing hard infrastructure such as roads, railways, ports and airports, he said.

“Its proper implementation and widespread adoption will help to structurally reduce logistics costs and make a significant difference in the growth of manufacturing and service sectors in India,” Padmanabhan said.

Arindam Guha, Manager and Partner, Government and Public Sector, Deloitte, India, said the policy represents a set of ongoing initiatives aimed at making India’s logistics sector more cost-competitive, environmentally friendly, formalized, transparent, with reduced and predictable delivery times.

He added that some of the key pillars of the policy include ensuring quality logistics infrastructure, with particular emphasis on first and last mile connectivity; and using digital technologies and analytics through initiatives such as the Unified Logistics Interface Platform to match demand and supply.

“The policy should facilitate a modal shift in logistics from the current overreliance on roads (over 60% currently compared to 25% globally) to railways (30% currently) and waterways (currently only 5%). ), thereby reducing average logistics costs as well as the carbon footprint,” he added.

It should also lead to a significant improvement in India’s ranking in global studies such as the World Bank’s Logistics Performance Index, where India was ranked 47th out of 160 countries in 2018, Guha said.

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

Park Record publisher set to retire

0
After 35 years as publisher of The Park Record, Andy Bernhard will retire on September 30.
Photo by Andy Bernhard

During his first week as editor of The Park Record in January 1987, Andy Bernhard learned what it was like to offend a reader who happened to be a prominent member of the community.

Then-editor Teri Orr wrote a critical column about the outfits the Park City High School cheerleaders wore as they entertained the crowd.

“After the column was published, I got a call from Jack Dozier, who was the high school principal at the time, and this guy ripped my face off,” Bernhard said with a laugh. “It was a pretty cold introduction to the realities of publishing a community newspaper in a well-educated, very noisy town.”



Bernhard will carry this and other memories of his 35 years at The Park Record when he retires as publisher and hands over to Valerie Spung, the newspaper’s longtime advertising director, who will take on the additional role. editor on September 30.

I think the reason I felt so comfortable here was because it was a run down ski town…” Andy Bernhard, Park Record Editor

“I’m retiring from The Park Record, but I don’t know if I’m necessarily retiring,” he said. “I’m going to take a little time, let the cobwebs fly away, and take it one day at a time. I have no other job. Life is short and it’s time to move on.



Bernhard deserved this break. During his 35 years in office, he led the award-winning newspaper through peaceful and stormy waters, including the 2002 Winter Olympics, the acquisition of Park City Mountain Resort by Vail Resorts, a series of changes ownership and the novel coronavirus pandemic.

“From my perspective, the Olympics were some of our best hours in terms of generating revenue and delivering great content, even though it was right after 9/11, and everyone was pretty worried about what was going to happen,” Bernhard said. “We posted three times a week during this period and released many special sections.”

The ownership changes were a mix of calm and fast waters in and of themselves, according to Bernhard.

During his time as publisher, The Park Record was owned by Diversified Suburban Newspapers, which was run by Dean Singleton and Bernhard’s brother, Peter Bernhard, MediaNews Group, which owned The Salt Lake Tribune, Digital First Media and Swift Communications.

Ownership of Park Record changed again in 2022, when Swift sold its local media and publishing business to West Virginia-based Ogden Newspapers.

Throughout these changes, Bernhard worked with editors Orr, Sena Flanders, Nan Chalat Noaker and Bubba Brown.

“They helped maintain the newspaper’s continuity and stability in the community,” he said.

Noaker, editor of The Park Record from 1996 to 2016, said Bernhard understands the importance of journalism and the delicate balance it takes to run The Park Record as a business.

She fondly remembers the debates she had with Bernhard about the editorials she wanted to write for each edition.

“It was this wonderful joust between me as a publisher wanting to shake the cages and question authority, and him as a publisher not wanting to alienate the business world because that would hurt his bottom line,” she said.

These arguments would typically have Noaker on one side arguing the case for whatever cause it was at the time, and Bernhard on the other side, teasing her about being a “bleeding-heart liberal,” a- she declared.

“We fought, but it was with great respect, and it seemed to me that we were always able to find a way to make mutually agreeable decisions,” she said.

Brown, the 2017-2022 editor, reflected on Bernhard’s example of leadership, which came to a head at the onset of COVID-19.

“It was a pretty tough time for everyone in the newsroom, but Andy provided that consistent leadership and made sure we were committed to serving the community the best we could,” Brown said. “With all the financial uncertainty and advertisers pulling out of the paper, Andy was always candid in explaining the way forward.”

The pandemic has proven to be one of Bernhard’s biggest challenges.

“We had to fire a lot of people and shut down the rhythm of the sport for a while,” he said. ” It was hard. In fact, staffing issues are one of the hardest things I’ve had to deal with.

As Bernhard steered with confidence, he also felt the pressure his job could put on friendships, especially since the newspaper has a duty to report something that isn’t always complimentary to a friend or to the business of a friend. a friend, said Bernhard.

“It’s stressful knowing that you have to write a story that will negatively affect your relationships,” he said. “And there were a lot of them.”

Bernhard knew very little about The Park Record and publishing in general when he arrived in Park City.

“I had only been in the newspaper industry for just under two years,” he said. “I was selling advertisements and working for my brother Peter at the time who ran Green Sheet Newspapers at Murray Printing.”

Although Bernhard learned a great deal from his brother, he cites the fifth edition of Herbert Lee Williams’ 1978 book “Newspaper Organization and Management” as a useful source of teaching.

Bernhard borrowed the book from the library and still hasn’t returned it.

“I think it was planned for 1987,” he laughed.

Bernhard also learned about The Park Record’s role in the community by personally meeting residents and visiting local businesses.

“When I got here, there were a lot of characters, you know, interesting people,” he said. “I think the reason I felt so comfortable here was because it was a run down ski resort. And that seemed to suit me well.

One of the things Bernhard is most proud of is The Park Record’s opinion pages, which feature letters to the editor, guest op-eds, and the paper’s own op-eds.

“The letters and opinions are anyone’s interpretations, and the community knows they can voice their opinions on these pages without us changing what they mean,” he said.

Bernhard will miss working with his staff and has enjoyed seeing former employees find successful careers after they leave.

These former employees include Dave Fields, who is now president and general manager of Snowbird Ski and Summer Resort, and Josh Chin, deputy bureau chief of the Wall Street Journal, based in Taipei, Taiwan.

“To some degree I understand that the amount of money we’re able to afford doesn’t often lead to longevity, but I’m also very proud that some people come for four to six years and are able to put together a very strong portfolio,” he said.

Bernhard is also grateful to longtime employees like Jay Hamburger, who pounded the Park City beat for 25 years, and columnists Orr and Tom Clyde.

“We’ve been very lucky with these writers, who I think are the most important in my mind as leaders here in the community,” he said.

Hamburger praised Bernhard’s leadership skills.

“Andy has been successful in consistently attracting bright and talented staff to an industry notorious for turnover,” Hamburger said. “Former members of the newsroom, some who have gone on to metropolitan or national publications and others who have worked their way into a wide range of industries outside of journalism, have taken with them important lessons that are taught in community newspapers like The Park Record.”

Another longtime employee Bernhard appreciates is Valerie Spung, The Park Record’s publicity director, who will take on the role of editor.

“Val has been my partner in running this place, and I’ve been so lucky to have someone so dedicated to the business side of this publication,” he said.

Spung, whom Bernhard hired in 1998, said he always embraced progress and increased the number of magazines and specials published under The Park Record brand.

“When I started, we had the Real Estate Weekly and some special sections,” she said. “Today we have The Park Record newspaper, 22 magazines, three special sections, parkrecord.com and a cross-platform digital division.”

Spung said she was ready for her new duty as an editor.

“I don’t think I can replace him, and I don’t want to either, but I take this very seriously,” she said. “Andy and I have worked together for so long, so I understand what I’m getting into.”

Bernhard said he was honored to lead The Park Record at a time when Park City experienced unprecedented growth into a vibrant, well-educated community.

“The Park Record has a life of its own, and it’s my best intention to leave it in the best possible condition for the next steward,” he said. “The Park Record is part of the fabric of the community, and it will continue to be that vibrant and important part.”

What is breaking democracy? by William H. Janeway

0

The internationalization of economic and financial relations has undermined the authority of the nation-state and created the conditions for the current confluence of global crises. Worse, the dismantling of neoliberalism has not led to incremental renewal, but to something more politically contingent and uncertain.

CAMBRIDGE — My colleagues Gary Gerstle and Helen Thompson share an academic home at the University of Cambridge, and their new books share a common goal: how to understand the dysfunction that has beset Western democracies. They explore this question in very different but complementary ways, offering deep insight into the disequilibrium dynamics of democratic capitalism. When read together, it is clear how the dissolution of Gerstle’s neoliberal Order fueled the disorder analyzed by Thompson.

The contrast between the two books owes a lot to the paths of the authors. Gerstle, a historian of political ideas, ideologies, and cultures, writes from an American perspective. In The Rise and Fall of the Neoliberal Order: America and the World in the Age of the Free Market, he follows how initially radical political programs become institutionalized as global “orders” when the opposition agrees to their terms. Thus, the New Deal Order was established when the Republican Eisenhower administration chose not to try to repeal the central institutional reforms of the Democratic Roosevelt administration.

Similarly, after its failed attempt to renew the New Deal order through health care reform, the Clinton administration embraced the liberated markets of the Reagan Revolution and thus prolonged the neoliberal order until it died out in the “eternal wars” after 2001 and the wars of 2008. financial crisis. Gerstle presents Donald Trump’s ethno-populist appeal as signaling the exhaustion of the neoliberal Order, whose disintegration has left the United States polarized and paralyzed in the face of long-standing racial issues and the inescapable challenge of climate change.

To continue reading, register now.

As a registered user, you can enjoy more PS content every month – free.

Register

Where

Subscribe now for unlimited access to everything PS has to offer.

Here’s How Intermittent and Firm Renewable Sources Are Factored Into Hawaii’s Power Grid

0

Hawaiian Electric is looking to bring more firm renewable energy to the grid over the next decade. But as new solar and storage projects come online, the definition and role of enterprise generation remains up for debate.

On Oʻahu, Kapolei Energy Storage by Plus Power is still under construction, but it will be the largest storage facility in the state when completed, according to Polly Shaw, director of policy and communications for Plus Power.

“This large-scale Kapolei energy storage facility will provide great absorption of midday solar energy to be ready when the evening peak arrives,” she told HPR.

Battery storage is an important piece of the energy puzzle because it adds stability to variable energy sources, like wind and solar. Traditionally, these resources provided power only when the wind was blowing or the sun was shining.

Renewables generally fall into two camps: intermittent or firm. Intermittent sources such as solar and wind are weather dependent and energy limited. Firm sources can produce electricity 24 hours a day, 7 days a week, whenever needed.

The waste-powered H-POWER on Oʻahu is considered a renewable business, under state law, as would a biomass, biodiesel, or geothermal power plant. But storage technology like Kapolei Energy Storage complicates these definitions.

Savannah Harriman Mate

/

HPR

The Kapolei Energy Storage facility is expected to be completed by spring 2023.

“Battery plus solar is a pretty reliable resource. If you just bought a battery, well, it’s not renewable at all. But if you’re going to power it with solar, and solar plus batteries, is it a renewable business? Well, that depends on your definition,” said Matthias Fripp, associate professor of electrical engineering at the University of Hawaii at Mānoa.

He also serves on the technical advisory board for Hawaiian Electric’s integrated grid planning process. Fripp pushes any hard line in the sand between what is and isn’t a renewable business.

“I would say there’s no clear definition. Every time someone comes to you using that kind of terminology – firm, revolving – you have to dig a little deeper and ask how they define it?” Fripp said.

Hawaiian Electric argues that solar and wind power combined with battery storage does not meet its definition of firm power. This year, HECO launched the tender for 500 to 700 megawatts of next-generation farm on Oʻahu.

“Storage is typically limited to about four hours and that’s what we’re looking for in our RFP,” said Rebecca Dayhuff-Matsushima, vice president of resource procurement at Hawaiian Electric. “Long-term storage, things that would last for days or weeks, is very expensive and still in its infancy in technology development. So there’s always this need for a 24-hour enterprise generation. and 7 days a week.”

Fripp agrees that this kind of corporate power has a role to play, but thinks people should be careful not to overestimate the power needed. Even though the main advantage of solid energy is that it can be used 24 hours a day, 7 days a week, Fripp says that it would be incredibly expensive to permanently use a new renewable energy production plant.

“I don’t even want to imagine how much energy that would cost. That would be bad. But again, if you only use it 3-5% of the year, it won’t have a big effect on invoices,” Fripp said. “If you use my definition of what they need, which is something that you can activate when you need it, but it won’t work all the time, then it seems to me that we need something like 150 megawatts.”

Unlike Hawaii’s current fossil-fuel plants, Dayhuff-Matsushima says HECO does not plan to use new, 24-hour, firm renewable plants.

“What we’re looking for is flexible, firm, renewable generation that we can ramp up and down, that we can turn off when it’s not needed, but is there when it’s needed so we can make sure that we are able to provide safe, resilient and reliable energy for the island,” she told HPR.

Solar and wind will still be in the lead, says Dayhuff-Matsushima, but enterprise generation may take over.

Clearway Energy Group's Mililani I Solar Project, Oʻahu's first large-scale solar power plant and storage solar power renewable energy

Office of Governor David Ige

/

FILE – Clearway Energy Group’s large-scale solar and storage facility near Mililani on Oʻahu.

But some say Hawaiʻi has to wonder if that role can be filled by battery storage technology.

“Battery technology is already very functional, and it is improving and evolving rapidly. And battery technology can store energy from any source, including sources that are affected by weather conditions like wind and the sun. And they can turn what we normally call intermittent energy into steady energy,” said Colin Yost, chief operating officer of RevoluSun, a solar battery and battery installation company. locally owned and operated and specializing in rooftop solar.

Kapolei Energy Storage can capture solar energy during the day for use in the early hours of the night. Yost asks, why should he stop there?

“At this time, we don’t believe the batteries work 24/7. They’re generally considered a four-hour battery or some other amount of guaranteed storage,” Yost said. “When you connect thousands of batteries to a grid, some of that power may still be available 24/7.”

“So it’s really a question of scale and a question of technology and how you integrate those resources into the larger network. And that’s where I think more discussion is needed. A bit of imagination is needed in terms of how we’re really going to make it work,” he told HPR.

Dayhuff-Matsushima says the storage just isn’t there yet. If something went really wrong, like a natural disaster, companies’ traditional generation facilities could work better and deliver electricity sooner.

The introduction of new firm renewables addresses other concerns, such as the limits of the amount of land we have available for new solar and wind farms. But Dayhuff-Matsushima says solar power and storage still have an important role to play in Hawaii’s energy strategy.

“Being able to use these facilities, solar plus storage, or any type of intermittent plus storage facility, allows us to reduce the amount of firm generation we have to use. And that’s why even if we go out and we’re looking for a new generation of renewable business, we’re going to take more fossil fuel generation out of it,” Dayhuff-Matsushima said.

Firm versus intermittent is not just semantic. These definitions are important because they shape what the grid will fundamentally look like as Hawaii tries to meet its clean energy goals. Dayhuff-Matsushima says it can be a bit of a stretch trying to measure the needs of the future against today’s technologies.

“I think a lot of people think about this 2045 goal of 100% renewable energy that we’re just going to hit – like we’re going to have all these systems in place,” she said. “But really, it will be constant because the facilities that we are putting in place today with 20-year contracts will expire in 2045. These are either going to have to be renegotiated or they are going to have to be replaced.

“It will be an ever-evolving journey, like any electrical system. It’s just that we’re moving from what was traditionally an ever-evolving journey from fossil fuels to new forms of renewable technologies,” he said. she adds. “Right now we also have to plan what is available.”

Can solar and wind power be considered as firm energy? HPR’s Savannah Harriman-Pote takes a closer look.

Extended segment on The Conversation – September 14, 2022

BP in line for huge payday from Putin’s energy company despite pledging to sell stake

0

BP is in line for dividends worth hundreds of millions of pounds from Russian oil and gas giant Rosneft, even after pledging to give up his stake in the company.

Oil and gas giant FTSE 100 still owns just under 20% of Rosneft and is therefore entitled to its share of Rosneft’s 441 billion ruble (£6.4 billion) payment for 2021, worth around £1.2 billion.

Just before Russia invaded Ukraine, BP received a $464 million dividend from Rosneft to cover the first half of 2021, but is still entitled to the second half payment.

However, it is unclear whether he will ever get the second payment, as Russia hits back at sanctions imposed on the West for its war on Ukraine.

Russia first banned companies from paying dividends to foreign shareholders, then blocked payments to companies from “hostile” countries, including Britain and the United States.

The funds are instead placed in restricted accounts, with Russian approval to withdraw the money from Russia. BP does not count this as dividend income.

BP announced in February that it would sell Rosneft’s stake and reduced it to zero in its accounts.

He has limited options, however, with Russia preventing the sale of some assets and a limited pool of buyers.

Credit Clear Continues Profitability Trajectory with Record August Monthly Revenue

0
Credit Clear’s annual revenue rate reached $39.4 million.

Credit Clear (ASX:CCR) has achieved four consecutive months of profitability after reporting record monthly revenue of $3.28 million in August.

This brought Credit Clear’s annual revenue rate to $39.4 million.

Underlying the record high of $3.28 million for August are “strong contributions” from large onboarded customers in recent months, as well as increased debt referrals from existing customers.

The top five contributors to the record monthly revenue were: a financial services consumer who joined this year; a large education provider, which submitted more late cases; an energy supplier that signed in 2022; operator of toll motorways which has experienced an upturn in traffic activity; and a water utility, which reduced its collection panel from four to two suppliers.

Digital Collections

In addition to the monthly revenue record for August, the month also heralded an all-time high for payments collected through the digital platform and broke the previous three consecutive monthly records.

Payments from digital platforms topped $5 million for the first time, hitting $5.64 million for the month.

New customers

Also in August, 38 new customers were onboarded, which is expected to generate a total of $418,000 in additional revenue over the next 12 months.

Credit Clear noted that new clients also brought a wider scope of work with an integrated finance, investment and leasing specialist.

Total incremental revenue from customers who signed up since January 1 this year reached $10.77 million.

Additionally, Credit Clear’s new deal pipeline grew “significantly stronger” in August, with “multiple opportunities with blue-chip companies progressing” to final or contract negotiation stages.

“Progress in the insurance industry has been particularly notable and the company expects to be able to announce significant new insurance customers in the coming months,” added Credit Clear.

As part of this, Paul Dwyer was appointed to the company’s board earlier this month as a non-executive director. Mr. Dwyer founded PSC Insurance Group (ASX: PSI) and brings to Credit Clear “an exceptional experience in the insurance industry”.

Technology Award

Credit Clear’s technology continues to attract attention.

The company won the “Best Use of AI by a Fintech” award at the 7th Australian Fintech Awards.

It was the second consecutive year that Credit Clear has received the award, which recognizes its “advanced use of AI” in the collections industry.

Credit Clear has highlighted that its AI-powered software led to a 35% increase in collections for one of Australia’s largest toll road operators in May and June this year.

At the 2022 Australian and New Zealand Institute of Insurance and Finance Awards, Credit Clear was named an Insurtech Start-up of the Year finalist.

Solution Financial Reports Q3 2022 Financial Results

0

Calgary, Alberta–(Newsfile Corp. – September 13, 2022) – Financial Solution Inc. (TSX: SFI) (OTCQX: SLNFF) (there “Company), one of Canada’s leading luxury automobile and yacht charter providers, today announced its financial results for the third quarter ending July 31, 2022.

Highlights of results for the quarter:

  • Margins increased 36% from 26% in the prior year quarter, with revenue driven primarily by high-margin leasing versus lower-margin vehicle sales.

  • Net earnings were $376,928 compared to $406,455 in the prior year quarter

  • Adjusted net income(1) was $526,797, down slightly from $557,545 in the comparative quarter.

  • The total lease portfolio increased to $27,317,077 compared to $26,025,286 in the previous quarter.

“This quarter really showed the resilience of our business model as we remained focused on our core rental services despite the ongoing economic challenges,” said Bryan Pang, CEO of Solution. “In 2021, we capitalized on vehicle resale opportunities caused by the supply chain impact on the luxury automotive sector, while this past quarter we have been more focused on helping to our network of luxury dealerships to finance vehicle sales despite generally slower sales volumes.Our recently announced $15 million financing facility with ATB Financial is a significant milestone, giving us access to more resources to support more dealers in our existing and expanding markets. Our goals remain focused on growth in the luxury market using a disciplined approach that has been proven over the past 18 years – delivering market competitive rates at good customers, focusing on leasing the right vehicles, backed by good warranties, and proactively supporting customers and caring for them. shareholders well beyond the initial fundraising event. Revenues may remain lower during these economic downturns, but we remain committed to focusing on profitable operations and building long-term shareholder value,” concluded Bryan.

Solution reports net earnings of $376,928 or $0.004 per share for the quarter ending July 31, 2022. This compares to net earnings of $406,455 or $0.005 per share for the quarter ending July 31, 2021.

Adjusted net income, which is more reflective of actual cash earnings, for the quarter ending July 31, 2022 was $526,797(1) or $0.006 per share compared to $531,092 or $0.006 per share for the quarter ending July 31, 2021. Adjusted net income excludes non-cash accretion expense related to convertible debentures and right-of-use assets of $55,807, the provision for income taxes of $80,000 and amortization expense of $14,062.

Solution’s operating cash flow for the nine months ending July 31, 2022 decreased to $126,863 (net of operating lease asset disposals) compared to $3,109,803 in the comparative quarter of 2021. With the increase in prime interest rates over the past few months, the Company used excess cash to repay the operating line of financing to minimize interest expense.

Rental portfolio

As of July 31, 2022, Solution had 323 vehicles in its rental portfolio, a net decrease of 3 vehicles to bring the total rental portfolio to $27 million.

As of July 31, 2022, the average residual term of the leases in the portfolio is 1.9 years, weighted by the net book value of each vehicle. As of July 31, 2022, Solutions’ 323 leases generated annualized gross rental and lease revenues of approximately $7.5 million.

About the Solution

Solution Financial Inc. was founded in 2004 and is headquartered in Richmond, BC and Calgary, Alberta. Solution specializes in sourcing and leasing luxury and ultra luxury vehicles, yachts and other limited edition assets that tend to retain their value over time. The company launched an innovative rental program that has helped make Metro Vancouver the luxury car capital of North America. The solution uses a streamlined leasing model specializing in assets with limited supply and high resale value. This rental alternative has proven extremely popular with affluent immigrants, international students, and business owners who may have limited credit history in Canada or who prefer more flexible vehicle ownership options.

Note 1- Financial indicators not in accordance with IFRS

Solution provides all financial information in accordance with International Financial Reporting Standards (“IFRS”). To supplement our consolidated financial statements presented in accordance with IFRS, we are also providing with this press release certain non-IFRS financial measures, including Adjusted Net Income. In calculating these non-IFRS financial measures, we have excluded certain transactions that are not necessarily indicative of our ongoing operations or do not impact cash flow. These measures are not recognized measures under IFRS and do not have any standardized meaning prescribed by IFRS and therefore are unlikely to be comparable to similar measures presented by other issuers. These measures should not be considered in isolation or as a substitute for analyzing our financial information reported in accordance with IFRS.

Caution Regarding Forward-Looking Statements

This press release contains “forward-looking information” as defined by applicable Canadian securities laws. Such information includes, but is not limited to, statements regarding our objectives, our strategies for achieving those objectives, as well as statements regarding management’s beliefs, plans, estimates, projections and intentions, and similar statements regarding events anticipated futures, results, circumstances, performances or expectations that are not historical facts. Forward-looking information can generally be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “should”, “expect”, “intend”, ” estimates”, “anticipates”, “believes”, “should”, “plans” or “continues”, or similar expressions suggesting future results or events. This forward-looking information reflects management’s current beliefs and is based on information currently available to management. Although the forward-looking information contained in this press release is based on what management believes to be reasonable assumptions, there can be no assurance that actual results will be consistent with such forward-looking information. Certain statements included in this press release may be considered “financial outlook” for purposes of applicable Canadian securities laws and, as such, the financial outlook may not be appropriate for purposes other than this press release. .

The forward-looking information contained in this press release is made as of the date of this press release and should not be relied upon to represent the opinions of Solution as of any date subsequent to the date of this press release. Except as required by applicable law, Solution’s management and Board of Directors undertake no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

For more information, please contact Sean Hodgins at (778) 318-1514.

ON BEHALF OF COUNCIL

(sign) “Bryan Pan
Brian Pan
President, CEO and Director

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137060

Case Study: Azimut and Salt Edge Boost the Investment World with Open Banking

0
Andrei ScutariCountry Manager Italy at salt edgetalks about their partnership with Azimuthfocusing on their personal investing mobile app, Beewise.

Azimut, one of the largest independent asset managers in Italy and one of the largest in Europe, has been increasing the wealth of individuals for 30 years. Having helped millions of people to invest and believing that everyone has the right to invest, Azimut created the personal investment mobile application – Beewise to make the world of investments accessible even to those who do not know where to start. , including millennials and technology. knowledgeable people.

The founders of Beewise decided to provide an easy to use application with a simplified user integration which, in addition to being a personal finance manager, would allow setting goals and achieving them by taking advantage of Azimut’s long experience. in terms of investment. Users do not need to be financial experts, Azimut helps and guides them with its experience via Beewise.

The challenge of making investing transparent for everyone

According to Capgemini research, only wealth or asset management companies that leverage AI/ML and digital technologies will be well positioned to personalize the client experience. Effective engagement throughout the customer lifecycle starts with the data ecosystem and adopting a digital-first strategy. This is where Open Banking is king.

Manual insertion of transaction data by users has never been an option for Beewise. Their goal of combining expense and investment tracking in a single app was far too ambitious to rely solely on the human factor. The key to the success of this mission is to automatically import financial data from various sources, standardize and unify this information and instantly categorize transactions. Also, an important factor in providing users with a seamless investment experience would be to enable instant investments. Via a usual simple top-up from a bank account or ewallet to a Beewise account, the funds would only be available in the account after two days. So a faster alternative was needed.

The silver lining brought by Open Banking

Since the Beewise app sought maximum security and convenience, Azimut chose Salt Edge to provide data aggregation and payment initiation within Italian banks for app users. Salt Edge has broad banking connectivity from over 5,000 banks worldwide, allowing Beewise users to connect their bank accounts and invest and transfer funds directly into Azimut. Without these features, the proper user experience would simply be impossible.

“Salt Edge was instrumental in our mission to create an easy-to-use mobile app that would simplify what we think is a complicated subject: investments. We bring Azimut’s investment experience and knowledge to Beewise users and it takes a partner who shares the same trusted approach to deliver the best and safest customer journey possible. Salt Edge has technical expertise and a strong reputation in the open banking market,” commented Giorgio Medda, Co-CEO and Global Head of Asset Management at Azimut.

Thanks to the payment initiation function, Beewise users can easily and securely transfer the requested amount to the Beewise application, for each investment they wish to make, without sharing card credentials. The Account Information Element, a sophisticated financial data aggregation and enrichment API that quickly and continuously extracts raw data from multiple sources and turns it into insights, helps Beewise enable its customers to track expenses, set savings goals and receive investment recommendations all in one app. Aggregated banking data also greatly simplifies the entire customer onboarding process, reducing it to minutes.

According to Matthias Van Den Eede, Founder of Beewise and Head of Digital Business Development at Azimut, by leveraging Salt Edge’s account information and payment initiation APIs combined with AI and ML algorithms, users of the application obtain in-depth financial information and must invest in various themes. investment projects, developed by Azimut’s global team. “We are bringing young people closer to smart money management and investing and we are happy to have Salt Edge alongside us on this exciting journey,” added Van Den Eede.

Combining Azimut’s investment expertise with Open Banking elements in a smart app has debunked the myth that investing is only accessible to finance gurus. To learn more about Open Banking and how you can innovate with it, visit www.saltedge.com.

About Andrei Scutari

Andrei is Country Manager Italy at Salt Edge. Over the past 3 years, he has been actively involved in establishing a strong position for the company in Italy. Additionally, as a Sales Manager and Open Banking expert, Andrei has helped dozens of companies define winning Open Banking strategies and create exciting use cases.

About Salt Edge

Salt Edge – a financial API platform with PSD2 and Open Banking solutions for every business. The company has two main business vectors: enabling third parties to access banking channels through a unified gateway and developing the technology necessary for banks to comply with the requirements of the directive. ISO 27001 certified and AISP licensed under PSD2, the company uses the highest international security measures to ensure stable and reliable connections between financial institutions and their customers. The company is integrated with more than 5,000 financial institutions in more than 50 countries.

Household debt is on the rise according to Statistics Canada

0

Canadian households have more debt relative to their income than at the start of the year, according to Statistics Canada data released Monday.

According to the federal agency, household debt as a percentage of disposable income rose to 181.7% in the second quarter of this year, from 179.7% in the first quarter. This means that for every dollar of disposable income, the average household owes about $1.82 in debt.

The change signals an increase in debt levels similar to rates seen before the pandemic, said André Bolduc, a partner at BDO Canada and a licensed insolvency trustee. The increase is not unexpected given inflationary pressures and rising interest rates, he said, and those influences are likely to mean the ratio will continue to rise.

During the COVID-19 lockdowns, Canadians had more money because they had less money to spend their disposable income. Now that people are back to their normal spending habits, their debts are rising, as are interest rates and the cost of living, Bolduc said. At the same time, there has been little upward movement for wages.

“It costs people more to live, and for people in debt, it also costs them more to carry that debt,” Bolduc said.

On a seasonally adjusted basis, households added $56.3 billion in debt in the second quarter, including $48.7 billion in mortgages, according to Statistics Canada data.

The household debt service ratio was 13.63% in the second quarter compared to 13.34% in the first quarter.

David Macdonald, senior economist at the Canadian Center for Policy Alternatives, said while there is an increase in household debt service levels, the current rate is in line with what has been seen for some time.

The rate has been relatively stable since around 2016, Macdonald said, adding that it is expected to fluctuate to some degree.

Meanwhile, Canadians are facing a rapid reversal in interest rates “to rock bottom” because, in an attempt to calm inflation, the Bank of Canada has raised its key interest rates, Macdonald said. .

The impact of these rate hikes is now reflected in the debt and diminished borrowing power of Canadians seeking high-cost loans, such as new mortgages.

“What we see … is the policy objective of the Bank of Canada,” he said. Since people now feel poorer overall, they will spend less in the economy, Macdonald said.

Further increases in the debt-to-equity ratio over the next few quarters are likely since Statistics Canada data is an average and slightly lagging, Bolduc said. While the ratio is certainly not a surprise, Bolduc is concerned about the average Canadian’s debt load.

For people who are heavily in debt and making only minimum monthly payments, the cost of living and further expected interest rate hikes could push them over the edge, he said.

People renewing their mortgages will pay more given the rate changes, Bolduc said.

“When this happens, there’s less room left in the budget for living expenses, and we know people who struggle with this use credit to make ends meet,” he said. “At one point, people hit the wall.”

With files from The Canadian Press

JOIN THE CONVERSATION

Conversations are opinions of our readers and are subject to the Code of conduct. The Star does not share these opinions.

Partnership between DHS and CBK continues to bear fruit | Company

0

Citizens Bank of Kansas recently announced that Jessica Fuller has joined its staff to lead the branch located at Derby High School. Fuller serves as director of the business department at DHS and will continue to teach while serving as education officer for CBK within the high school. She is currently in her 19th year teaching at DHS.

“As Head of Education at Derby High School, Jessica is actively involved in the day-to-day running of the CBK-DHS branch, which is made up of students. She embraces the real-world application of the concepts she teaches in the classroom,” said Stacy Gear, director of development for Citizens Bank of Kansas.

Cowboys vs. Buccaneers: Each team’s X-factor player for Sunday

0

New season, new start, and with that, the Dallas Cowboys are looking to put all the talk and intrigue of the offseason to bed. That process may intensify Sunday night when Tom Brady and the Tampa Bay Buccaneers come to town. We talked nauseously about the offensive line position and lack of preparation that led us to Tyler Smith starting his first NFL game at left tackle after practicing at left guard all training camp. We can’t forget how badly we felt the Cowboys missed a piece in the wide reception room as they looked to see how the youngsters served them before they did.

However, as the Cowboys head into week one, we’re all fascinated to see how it’s going on the field. Tampa comes in with its own issues and seems oddly familiar with what the Cowboys are currently dealing with themselves. They have question marks over a star receiver and his availability, and will also play a rookie and backups on the offensive line. In the end, these two teams will dress up and battle it out for 60 minutes and the most complete and prepared team will emerge victorious and feel good about their decisions for at least a week.

You can look at the three phases of these two teams and make a convincing case that there is an X factor on all three units. However, these two individuals, a Cowboy, a member of the Buccaneers, will have the biggest impact on Sunday’s game.

Kirby Lee – USA TODAY Sports

When we talk about X-Factors, it’s not necessarily the best players in the team each week, but rather the players who play that week who will affect the game the most. It’s hard to think of a player a Cowboy whose debut and performance will be watched more closely than the young rookie from Tulsa. Making his NFL debut against a tough and respected Bucs front seven is no small feat. To do so with minimal offensive tackle reps in training and none in position in a live pre-season setting is quite alarming.

The Cowboys are placing a lot of trust and faith in the first-round pick to go out there and protect Dak Prescott and his blind side. We’ve seen players from that organization go there and man that position so bad it impacted the game of football deeply and scarred us all for life. Ultimately, Smith is a much more talented player than Chaz Green. Expectations for him aren’t to be All-Pro at the gate, nobody expects that, but it’s safe to say with a healthy dose of confidence that Smith’s debut won’t be that low either. Either way, Tyler Smith’s performance will absolutely be the X-Factor for this Dallas Cowboys team and however that turns out will be a good indicator of how we all feel on Monday morning.

NFL: Tampa Bay Buccaneers Training Camp

Kim Klement-USA TODAY Sports

Although Julio Jones may not be the Julio Jones of old, he could find himself playing a pivotal role in the outcome of Sunday night’s game. Chris Godwin was very uncertain heading into week one and while it looks like Godwin will be playing on Sunday night, there will definitely be limited reps as they bring him back. Not having Godwin go all out is a success for this Bucs offense, a unit that looks to improve on their second ranked offense from 2021 heading into the new season.

That void will be filled by a wide receiver who was widely considered one of the league’s best just a few years ago. Although it’s a few unfortunate teams and injuries ago, Jones still commands respect on the pitch. If Jones is able to come in Sunday night and put together some production and get the attention of the Cowboys secondary on his Tampa Bay debut, it could very well change the complexion of this offense and the game in his together. If Jones isn’t on the same page as Tom Brady, or just doesn’t have a glimpse of who we knew him to be, the options Brady has to offer as well aren’t as daunting as in years past. Look for Dan Quinn and company to keep a close eye on Julio Jones as they try to figure out how to limit Brady and attack him on the way to a Week One victory.

Snowboard Equipment Market Size, Share and Forecast 2029 |

0

Pune, Sep 11, 2022 (GLOBE NEWSWIRE) — The Global snowboard equipment market (2022-2029) The research report represents a detailed overview of the current market situation and forecast to 2029. The study is perhaps a perfect blend of qualitative and quantitative information highlighting key developments in the market, challenges and competition faced by the industry, along with gap analysis and new available opportunities and trends in the Snowboard Equipment market. Additionally, this report gives Snowboard Equipment market size, recent trends, growth, share, development status, market dynamics, cost structure and competitive landscape. The research report also includes the current market and its growth potential over the given forecast period. An exhaustive and professional study of the global Snowboard Equipment market report has been carried out by industry professionals and presented in the most particular manner to showcase only the details that matter most. The report mainly focuses on the most dynamic information in the global market.

Get Sample PDF of Report – https://www.industryresearch.biz/enquiry/request-sample/21026756

Additionally, the research report provides in-depth data on the major factors influencing the Snowboard Equipment market growth at country and local levels, market size forecast, in terms of value, market share by region and market size. segment, regional market positions, segment. and growth opportunities by country, key company profiles, SWOT, product portfolio and growth strategies.

Impact of Covid-19 on the snowboard equipment industry:

The Covid-19 pandemic has had a negative impact on the snowboard equipment market. with industrialists. Major companies have suspended operations in different locations due to lockdown and social distancing norms. After the pandemic, the industry expects a lot of requirements and demands due to the rapid urbanization and the increasing need for rational use of the present area.

COVID-19 (Coronavirus) Global Market Conditions and Competitors:- In this report, analysts compile existing research on COVID-19, share key insights and help the reader spot new market opportunities related to the pandemic. Topics include product development pipelines, diagnostic testing approaches, vaccine development programs, regulatory approvals and more.

Get Sample Copy of Snowboard Equipment Market Research Report 2022

This report gives a detailed description of all the factors influencing the growth of these market players along with their company profiles, product portfolios, marketing strategies, technology integrations and more information about these market players. Some of the major players are:

Leading companies reviewed in the Snowboard Equipment Market‎ report are:

  • LibTech
  • Emsco
  • Lay boards
  • Burton
  • Stroll
  • Rome MSDS
  • Academy
  • Wildebeest
  • Nightingale
  • Zion Snowboards
  • Newell Brands
  • Solomon
  • Arbor
  • American sports
  • Head
  • Ski Rossignal

Global snowboard equipment market: Conductors and stresses

The research report has integrated the analysis of different factors which are increasing the growth of the market. It constitutes trends, restraints and drivers that transform the market either positively or negatively. This section also provides the scope of different segments and applications that can potentially influence the market in the future. Detailed information is based on current trends and historical milestones. This section also provides an analysis of the production volume in the global market and each type.

A thorough assessment of the constraints included in the report portrays the contrast with the drivers and leaves room for strategic planning. Factors that overshadow the growth of the market are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into the opinions of market experts have been taken to better understand the market.

Inquire more and share questions if any before purchase on this report at – https://www.industryresearch.biz/enquiry/pre-order-enquiry/21026756

Overall, the report is proven to be an effective tool that players can utilize to gain a competitive edge over their competitors and ensure sustainable success in the global Snowboard Market. All conclusions, data and information provided in the report are validated and revalidated using reliable sources. The analysts authoring the report have adopted a unique and industry-leading research and analytical approach for an in-depth study of the global Snowboard Equipment market.

Global Snowboard Equipment Market: Segment Analysis

The research report includes specific segments by region (country), company, type and application. This study provides information on sales and revenue over the historical and forecast period. Understanding the segments helps to identify the importance of different factors contributing to market growth.

By type:

  • Divided council
  • snowboard binding
  • Snowboard Boots
  • Others

Per application:

Geographic segment covered in the report:

The Snowboard Equipment report provides information on the market area, which is sub-divided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country and sub-region over the estimated period.

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East and Africa

The research objectives of this report are:

  • To study and analyze the global Snowboard Equipment market size (value & volume) by company, key regions/countries, products and application, historical data and forecast.
  • To understand the structure of Snowboard market by identifying its various subsegments.
  • Share detailed information on key factors influencing market growth (growth potential, opportunities, drivers, industry-specific challenges and risks).
  • Focuses on the key global Snowboard manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans during the coming years.
  • To analyze the Snowboard Equipment with respect to individual growth trends, future prospects, and their contribution to the total market.
  • To project the value and volume of Snowboarding submarkets, with respect to key regions (along with their respective key countries).
  • Analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
  • Establish a strategic profile of key players and analyze in depth their growth strategies.

This Snowboard Equipment Market Research/Analysis Report Contains Answers to the Following Questions

  • What are the ongoing developments in this technology? What trends are driving these developments?
  • Who are the Global Key Players in this Snowboard Equipment Market? What are their company profiles, product information and contact details?
  • What Was Global Market Status of Snowboard Equipment Market?
  • What Is The Current Market Status Of Snowboard Equipment Industry? What is the market competition in this industry, both at company and country level? What’s Market Analysis of Snowboard Equipment Market Taking in Consideration Applications and Types?
  • What will be the estimate of cost and profit?
  • What is the economic impact on the snowboard equipment industry? What are the results of the analysis of the global macroeconomic environment? What are the development trends of the global macroeconomic environment?
  • What Are Market Dynamics of Snowboard Equipment Market? What are the challenges and opportunities?

Purchase This Report (Price $3450 for Single User License) – https://www.industryresearch.biz/purchase/21026756

Detailed TOC of Global Snowboard Equipment Market Report 2022

1 Snowboard Equipment Market Overview

1.1 Snowboard Product Overview and Market Scope
1.2 Snowboard Equipment Market Segment by Type
1.2.1 Global Snowboard Equipment Market Sales and CAGR Comparison by Type (2017-2029)
1.3 Global Snowboard Equipment Market Segment by Application
1.3.1 Snowboard Equipment Market Consumption (Sales) Comparison by Application (2017-2029)
1.4 Global Snowboard Equipment Market, by Region (2017-2029)
1.4.1 Global Snowboard Equipment Market Size (Revenue) and CAGR Comparison by Regions (2017-2029)
1.4.2 United States Snowboard Equipment Market Status and Outlook (2017-2029)
1.4.3 Europe Snowboard Equipment Market Status and Outlook (2017-2029)
1.4.4 China Snowboard Equipment Market Status and Outlook (2017-2029)
1.4.5 Japan Snowboard Equipment Market Status and Outlook (2017-2029)
1.4.6 India Snowboard Equipment Market Status and Outlook (2017-2029)
1.4.7 Southeast Asia Snowboard Equipment Market Status and Outlook (2017-2029)
1.4.8 Latin America Snowboard Equipment Market Status and Outlook (2017-2029)
1.4.9 Middle East & Africa Snowboard Equipment Market Status and Outlook (2017-2029)
1.5 Global Market Size (Revenue) of Snowboarding (2017-2029)
1.5.1 Global Snowboard Equipment Market Revenue Status and Outlook (2017-2029)
1.5.2 Global Snowboard Equipment Market Sales Status and Prospect (2017-2029)
1.6 Influence of regional disputes on the snowboard equipment industry
1.7 Impact of Carbon Neutrality on the Snowboard Equipment Industry

2 Upstream and Downstream Analysis of Snowboard Equipment Market

2.1 Snowboard Equipment Industry Chain Analysis
2.2 Major Raw Materials Suppliers and Price Analysis
2.3 Supply and Demand Analysis of Key Raw Materials
2.4 Commodity Market Concentration Rate
2.5 Analysis of Manufacturing Process
2.6 Manufacturing Cost Structure Analysis
2.6.1 Labor cost analysis
2.6.2 Energy Cost Analysis
2.6.3 R&D cost analysis
2.7 Major Downstream Buyers of Snowboard Equipment Analysis
2.8 Impact of COVID-19 on Upstream and Downstream Industry

Continued….

Browse full TOC at – https://www.industryresearch.biz/TOC/21026756

About Us: –

The market is changing rapidly with the continuous expansion of the industry. Technological advancements have provided today’s businesses with multi-faceted benefits driving daily economic changes. Thus, it is very important for a business to understand the patterns of market movements in order to strategize better. An effective strategy gives companies a head start in planning and an advantage over their competitors. Industry research is a credible source for getting the market reports that will give you the head start your business needs.