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Baku, July 6 2023 (TDI): Minister of Foreign Affairs of Azerbaijan, Jeyhun Bayramov, met with the Minister of Foreign Affairs of Belarus, Sergey Aleynik.
Foreign Minister Aleynik officially visited Azerbaijan to participate in the Ministers of the Coordination Bureau of the Non-Aligned Movement meeting.
During the meeting, strategic partnership between the two countries in various fields was discussed on existing bilateral and multilateral platforms.
Foreign Minister Jeyhun Bayramov congratulated his Belarusian counterpart on his appointment to the ministerial position. Also, he submitted that there are effective contacts and cooperation between the two countries at all levels.
Bayramov further pointed out that there are effective contacts between the two countries that take into account each other’s interests on both bilateral and multilateral levels.
Reciprocally, Minister Sergey Aleynik noted with satisfaction that the 30th anniversary of the establishment of diplomatic relations between Azerbaijan and Belarus was celebrated with some prestigious events.
Additionally, the Minister of Foreign Affairs of Belarus said that there are extensive historical cooperation relations between the countries in agriculture, tourism, machine building, and other fields.
A protocol on the establishment of diplomatic relations between the Republic of Azerbaijan and the Republic of Belarus was signed on the 11th of June 1993.
Since then, the two countries have been making contacts and have maintained a strategic partnership that is anticipated to bring mutual benefits.
For example, Azerbaijan exports goods such as petroleum products, tobacco, chemical products, fruit juices, polyethylene, bentonite clay, chocolate, and chocolate products etc to Belarus.
On the other hand, Azerbaijan imports tractors, spare parts of drilling machines, wood and wood materials, medical equipment, electric wires, and food and agricultural products from Belarus.
Conclusively, other issues of mutual interest were exchanged during the meeting between the two countries foreign ministers.


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Innovation in the smartphone segment was never on rest, every passing day we see so much happening and so many possibilities. One such innovative thought is the idea of having a foldable smartphone that we have been hearing for quite some time now. Though we had to wait for such a long, things are finally taking shape. According to the sources of Android Authority, it happens to be that ZTE could be the first one to launch a foldable smartphone.
The New Axon Multy codenamed as Axon M could be the very first dual-screen foldable smartphone in the world that is expected to launch next month . The device is expected to feature a Full HD dual displays which folds out to sports a massive 6.8-inches (1920 x 2160 pixels). Earlier rumors from @evleaks point to Snapdragon 820, 4GB RAM, 32GB storage, 20MP camera and a 3,120mAh battery.
When folded the Axon M relatively looks sleek and would function as a regular smartphone. It paves the way for a new era where PCs and Laptops are not the only primary connection to the internet and a possibility for smartphones in becoming the real replacement for large screen devices.
The multitasking capabilities of a smartphone can set a new standard, and the new Axon M could bring in a new user experience. The sources further claim that the dual screens can easily accommodate and display two apps at the same time thus offering a true PC like experience on a smartphone which isn’t possible at the moment.
ZTE has scheduled an event in New York on October 17th, and it is very much likely that the company might show off the Axon M foldable smartphone to the world.
Sai Krishna contributed to this post

domain: news


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Action-FPS Bright Memory is "currently in development" for the launch of Xbox Series X and S, with its already-announced follow-up, Bright Memory: Infinite to follow next year.
Announced on the Playism Game Show stream, one-man developer FYQD announced that the game was in development and that he's "trying to do it at launch". Alongside that announcement, the developer also confirmed that the game's follow-up, Bright Memory: Infinite will come to PC and Xbox Series X in 2021.
Bright Memory is a melee-and-ranged FPS developed in FYQD's spare time and released on Steam in 2019. The game combines a cyberpunk storyline with classic action game combat and environmental puzzles.
Originally envisaged as the first episode in a series, FYQD has now decided to remake Bright Memory and significantly extend it, calling the new game Bright Memory: Infinite.


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Developer 343 Industries has revealed more information regarding the development of Halo Infinite, and the Slipspace Engine.
The reveal trailer shown at E3 ran on the new Slipspace Engine, culminating as a tech demo for fans to see what is to come. The engine was created in secret along side the post-release patches of Halo 5, since the developer knew it wanted to make a bigger game next time. In a blog post on its website, the team shared some information about the game:
“When we started this project, the team’s vision for the game was ambitious – so much so that we knew we had to build new tech to fully realize our goals for Halo Infinite.”
The developer mentioned that the game is still a long way out, but it wanted to share the progress and showcase the new technology and art style. The new style, headed by art director Nicolas Bouvier, will be based on fan feedback and the most iconic parts of the Halo franchise. The team will be working on modernizing the art so it can draw out all the power from the family of Xbox systems.
To combat the long wait for the game, 343 will perform some ‘flighting programs’ where players will be able to play the game with the developers and give direct feedback during the development. The ‘flighting program’ will be similar to one used in Halo: The Master Chief Collection.


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Ryanair bets on 888.com deal
Ryanair has teamed up with online betting service 888.com to roll out a gambling platform on the budget airline's website that offers customers the chance to win flight vouchers.
Ryanair: signs deal with 888.com
Consumers can make bets with online chips through the Ryanair website, or while playing online casino games, poker and sportsbetting.
Ryanair believes its half a billion visitors to the site per year will boost its betting partnership with 888.com.
Stephen McNamaras, communication's director at Ryanair, said: "Ryanair already delivers Europe's lowest airfares and with 888.com we now deliver the best online gaming entertainment to half a billion annual visitors to Ryanair.com.
"The world's first poker tournaments featuring Ryanair flight vouchers as prize money are sure to excite gaming and travel fans throughout Europe who will also find casino, bingo and sportsbetting on Ryanair.com."
This article was first published on marketingmagazine.co.uk
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// Forever 21 faces £8m lawsuit from Ariana Grande over “lookalike” model
// The fast fashion retailer created an online campaign which had striking similarities to her music videos
// Grande has 163 million Instagram followers, making her the most-followed woman
Forever 21 is being sued by Ariana Grande after it used her trademark style to promote its products without her permission, including adverts featuring a “look-alike model”.
The US singer filed the $10 million (£8.2 million) lawsuit in a Los Angeles district court over allegations that the fast fashion retailer created an online campaign, including a spin-off cosmetics line Riley Rose, which had striking similarities to her music videos, such as hit song 7 Rings.
Forever 21 said: “Even a single social media post by Ms Grande can garner fees of several hundred thousand dollars, and her longer-term endorsement arrangements command fees in the millions of dollars.”
Grande has 163 million Instagram followers, making her the most-followed woman on the photo and video sharing social media platform.
Images from Forever 21’s Instagram account cited by the lawsuit showed a model wearing purple camouflage clothing and a pink headband and boots similar to those worn by Grande in the 7 Rings music video.
The images appear to have been taken down from the retailer’s social media accounts.
A Forever 21 statement denied the allegations, adding that the fashion firm has “worked with (Grande’s) licensing company over the past two years”.
“We are hopeful that we will find a mutually agreeable resolution and can continue to work together in the future,” it added.
The news comes a week after reports that Forever 21 was reportedly preparing for a potential bankruptcy filing.
According to Bloomberg, the US-based fashion retailer wants to secure a potential debtor-in-possession loan to take the company into Chapter 11 bankruptcy.
Forever 21 also recently revealed it was considering options to downsize its business in the UK market or pulling out completely after previously reviewing its UK store portfolio.
It now only has a handful of stores after the said review, including a flagship on London’s Oxford Street.
The fashion retailer currently operates more than 800 stores across the US, Europe, Asia and Latin America.


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Stocks have taken a pause to reflect on some economic numbers and earnings. It seems investors are caught between optimism for what the fourth quarter holds for consumers and the rising risk that the U.S. isn’t immune from the global slowdown.
There are plenty of ways to argue both for and against a strong Q4, but I’m here to talk about stocks.
I talk about our consumer-driven economy all the time in Growth Investor myself. But the reality is, it can’t save the entire retail sector.
Some stores are doing well, but this rising tide isn’t lifting all boats.
Below are seven retail stocks to avoid for the holidays.
These are stocks that have either run their race or can’t keep up with the competition. Whatever the reason, they are all “F”-rated stocks in my Portfolio Grader, and not worth the risk in your portfolio.
Retail Stocks to Avoid: Chico’s (CHS)
Chico’s (NYSE:CHS) is a women’s clothing retailer that includes brands Chico’s, Soma and White House Black Market. It started in 1983 as a direct-mail catalog firm that got traction and then began to open stores around the U.S. in upscale locations.
CHS was on the leading edge of casual work clothing, especially for the baby boomer set, as power suits were giving way to more comfortable and interesting clothing and accessories.
The trouble is, the company’s demographic is shrinking and the generations that are taking the boomers’ place aren’t interested in what CHS is selling. And its faithful customers now have other options. Plus, having a brick-and-mortar footprint is expensive.
The stock is off 556% in the past year and doesn’t look like it’s going to reverse that trend, especially if the economy slows.
Macy’s (NYSE:M) is a retail giant. But its stores are more like a physical manifestation of what most shoppers can get off a retailer’s website. And managing that website is a lot cheaper.
That’s the big problem for all these big department stores. They are having trouble adapting to life on the web. The efficiencies are there, not in huge stores that have to pay for the space, employees and merchandise. And operating margins are a key factor in my strategy for finding market-beating stocks.
Yet, because they didn’t move fast enough, e-commerce giants like Amazon (NASDAQ:AMZN) stole their business as did more focused online merchants, because shopping on the web is much easier than roaming a giant store.
Macy’s gets it now, but the question is, is it too late? The stock is off 55% in the past year, and there’s no reason to risk a good Q4 at this point, when other stocks show more promise.
Kirkland’s (NASDAQ:KIRK) is a Tennessee-based furniture store that now operates in 37 states. And it’s a company that is a direct victim of the U.S.-China trade war.
And the thing is, China is less worried about furniture than it is agricultural demands like soybeans and pork. That means KIRK, and other stores like it, are going to have to take a 25% hit on about 25% of their merchandise that comes from China.
This has already hit their bottom line and it doesn’t look like these tariffs are going to go away anytime soon. At this point, KIRK has already guided lower for the rest of the year and had to adjust its margins, since those will be hit as well.
This is tough for mid-sized retailers like KIRK, since they can’t just go out and find new suppliers. They are too big and it takes a while to turn the ship.
The stock is off 86% in the past year and won’t likely recover much ground until it can turn the ship or the trade war ends.
Tile Shop Holdings (TTS)
Tile Shop Holdings (NASDAQ:TTS) should be in a great spot now. Consumers are confident, rates are low and the housing market is suffering more from lack of listings than lack of interest.
However, TTS stock is off 75% in the past 12 months. Part of this was due to the hit last year, as interest rates were rising. But even in the past month, the stock is off 45%. That’s not a good trend.
And in late October, TTS announced that it was voluntarily delisting, an unusual move for any stock. That certainly doesn’t bode well for the company. It continues to lose money, quarter after quarter.
This is one falling knife that you don’t want to try to catch at any price. There are much better opportunities out there.
Stein Mart (SMRT)
Stein Mart (NASDAQ:SMRT) was founded 111 years ago in Jacksonville, Florida by a man named Sam Stein. It now has around 280 stores in 30 states.
Usually, any company that has been around for over a hundred years has been able to adapt, getting through world wars, recessions, the Great Depression and any number of other issues.
But it seems e-commerce has been the undoing of SMRT. It’s not time to count SMRT out yet. The stock is off 63% in the past 12 months, yet only 27% year-to-date.
On the upside, it has recently announced it will be carrying Amazon Lockers at its stores (a secure place to pick up goods you order from Amazon) to help drive traffic. And it should also get some help from the demise of Sears and other department stores.
But until those changes start helping the company in a visible way, it’s not worth bottom fishing.
Walgreens (NASDAQ:WBA) is one of the leading drug store chains in the U.S. and the United Kingdom.
Part of the Dow Jones Industrial Average’s loss last week was due to selling in WBA stock. It reported Q4 fiscal earnings earlier in the week and guided lower for 2020. And while it hit its earnings number, Walgreens fell short on revenue.
Some of the challenge for WBA is the fact that it’s going to have to deal with the currency issue of its European operations, especially the weakness in the British pound, as well as Brexit uncertainties.
There’s also the fact that the U.S. has yet to do anything about its healthcare issues. That’s certainly fine for WBA right now, but this state of limbo won’t likely last much longer.
The stock is off 25% in the past year, so its 3.3% dividend isn’t much of a temptation here. The best idea is to steer clear and wait for something to change the current slow growth and existential risks. In the meantime, I’m looking elsewhere for compelling growth plays.
Signet Jewelers (SIG)
Signet Jewelers (NYSE:SIG) is a jewelry company that runs the brands Zales, Kay, Jared and Piercing Pagoda. It also has an international segment that reports in British pounds.
Its biggest problem is two words: shopping malls.
Most of its operations in the U.S. are based on shopping malls. And if you haven’t noticed, as large department stores have struggled and disappeared, so too have the shopping malls that they usually anchored.
Lack of foot traffic is something that makes SIG stores struggle. And then you have the rise of e-commerce, which also means smaller companies can compete without having the enormous overhead.
And international operations have been hurt by the strong dollar, especially the Brexit-battered British pound. That doesn’t help earnings either.
The stock is off 71% in the last year, so its massive 9.2% dividend doesn’t do much to take the sting out of that loss. And there’s still more downside than upside.
At the end of the day, retail has become a difficult business in which it’s difficult to deliver the earnings as well as operating margins I’m looking for.
That’s why I’m looking elsewhere for growth plays. One of my favorites is a tech trend that is already bigger and deeper than most people realize.
— Louis NavellierThis Will Most Likely Be the Next FAANG Stock [sponsor]
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Source: Investor Place


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Several months ago Porsche was poised to buy Volkswagen. Today Volkswagen received the approval it needed to do just the opposite.
A “supervisory board” meeting, comprised of board members from both Volkswagen and Porsche, as well as the Porsche and Piëch families and the German State of Lower Saxony, today gave unanimous consent to a “integrated automotive group” that will by all accounts see Germany’s largest automaker take control of its most storied sports car manufacturer.
The move comes just a day after Porsche ousted its CEO Wendelin Wiedeking.
Dr. Wolfgang Porsche said that, “Porsche will preserve the myth and identity of the Porsche brand in the integrated group,” and added that the deal with Volkswagen will allow for further growth.
Chairman of the board Dr. Ferdinand K. Piëch echoed that statement saying that, “Together, Volkswagen and Porsche have all it takes to occupy a leading position in the international automotive industry.”
The details of the deal will be arrange over the next few months as Porsche joins a growing Volkswagen Group of companies which includes Bentley, Audi, Lamborghini, Seat and Bugatti.
Official release after the jump:
Broad approval for integration of Volkswagen and Porsche
Wolfsburg/Stuttgart, July 23, 2009 – The Supervisory Board meetings of Volkswagen Aktiengesellschaft and Porsche Automobil Holding SE which took place in Stuttgart on Thursday cleared the way for an integrated automotive group combining Volkswagen and Porsche. The details of a final joint concept will be worked out over the coming weeks. Representatives of the Porsche and Piëch families, the State of Lower Saxony and the workforce of both companies have however already expressed their great satisfaction with the foundations that have now been laid.
The Chairman of the Supervisory Board of Volkswagen Aktiengesellschaft, Dr. Ferdinand K. Piëch, sees the integrated group clearly on course for success: “Together, Volkswagen and Porsche have all it takes to occupy a leading position in the international automotive industry.” Talking in Stuttgart, Dr. Wolfgang Porsche emphasized that today’s resolutions represented a landmark decision and a milestone achievement for the future, adding: “Porsche will preserve the myth and identity of the Porsche brand in the integrated group. That brings new prospects for growth.”
The labor representatives Bernd Osterloh, Chairman of the Group Works Council of Volkswagen, and Uwe Hück, Chairman of the Group Works Council of Porsche, were extremely positive in their assessment of the perspectives for the integrated group. According to Osterloh: “We are definitely heading in the right direction. Over the coming weeks, we must make sure the employees benefit from the new perspectives, too.” Hück commented: “Porsche will retain its independence in the integrated automotive group. Porsche must remain Porsche.”
The Prime Minister of Lower Saxony, Christian Wulff, underlined that the solution represented the best course for both companies: “This solution accommodates the interests of all concerned and safeguards the strength and performance of Germany’s automotive industry.”


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U.S. President Donald Trump has threatened to slap tariffs on all Chinese exports to the U.S.
On Monday, a spokesman for China’s foreign ministry stated, Beijing will respond if the United States was to take any further steps on trade. China’s response comes in the wake of U.S. President Donald Trump warning that he is ready to slap tariffs on virtually all of China’s exports to the U.S.
On Friday, Trump had stated, he is ready to levy additional tariffs on all Chinese imports to the U.S. and threatened to impose duties on goods worth $267 billion above and over the planned imposition of tariffs on $200 billion of Chinese products.
“If the U.S. side obstinately clings to its course and takes any new tariff measures against China, then the Chinese side will inevitably take countermeasures to resolutely protect our legitimate rights,” said Geng Shuang, China’s Foreign Ministry spokesman in a regular news briefing when asked to respond on Trump’s warning without elaborating any further.
\Despite several rounds of negotiations, trade frictions between the two of the world’s biggest economies have gone south. U.S. trade tensions stems from limits U.S. firms face in China, technology transfers and investment and intellectual property protection.
Last month, China had prepared a list of retaliatory tariffs on $60 billion of U.S. goods ranging from LNG to types of aircraft, if the U.S. were to activate its tariffs on its $200 billion list. Chinese tariffs range from 5% to 25% and applies to 5,207 products.
China has either proposed or imposed tariffs on U.S. goods worth $110 billion which represents most of American imports; however, large aircraft and crude oil have still not been targeted.
The $200 billion of Chinese goods on the U.S. list includes consumer products, including cameras and recording devices, vacuum cleaners, tires, luggage, and handbags.
If Trump were to activate his tariffs worth $267, it would include mobile phones, the biggest U.S. import from China.
Official export data from China shows that it is surprisingly resilient to U.S. tariffs, with its exports exceeding analysts’ expectations for five months in a row.


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Nordic telco Telenor has announced that executive vice-president and head of group strategy and regulatory affairs Morten Karlsen Sørby has been appointed chairman of both the Telenor Broadcast and the Telenor Media and Content Services (TMCS) units.
Sørby is also the present chairman of Telenor Norway, having previously headed both the Telenor Group industrialisation efforts as well as the Nordic operations of Telenor.
“By assembling the business units Telenor Broadcast, TMCS and Telenor Norway under the chairmanship of Morten Karlsen Sørby, we open up for the possibility to further explore benefits across business units and develop our service offerings. Morten has a unique combination of operational experiences along with deep insight into our business models. I look forward to seeing the results under his leadership,” said Jon Fredrik Baksaas, CEO and president of the Telenor Group.
Have you taken the Digital TV Europe Industry Survey 2021?
17 January 2021 @ 15:00:01 UTC
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16 January 2021 @ 19:00:00 UTC
Don't miss the chance to share your videos on the future of digital video in the Digital TV Europe Industry Survey… twitter.com/i/web/status/1…
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Portfolio NAV jumps 12.3% in Q1 as markets topple old records
Just like that, we’ve already seen out the first quarter of 2019, and what a start to the year it has been. Cast back to the opening days of January, few could have predicted such a turnaround following an abysmal revenue downgrade from Apple (APPL) and underwhelming US factory data.
But the stock market is flying high, notching up achievement after achievement. As investors piled back into riskier assets the S&P 500 recorded its best quarter in the last decade, and the best opening quarter since 1998.
As it turns out, the key to massaging the nerves of the market has, in many respects, been soothing reassurances - none more so than that first communicated by the Federal Reserve in January around a more cautious path to lifting rates, and reaffirmed at its March meeting. Given mixed economic data, plus the angst markets feel every time slowing global growth gets a mention, we don’t see a catalyst for a rate hike, rather a rate cut.
The US government - when not shut down - has also been keen to see to it that markets held their rebound. At the hint of any anxiety, the Oval Office has been quick to casually remind an impatient market that US-China trade negotiations are progressing well - notwithstanding the lack of detail. Here we are, with discussions longer than expected, it almost seemed an April Fools’ Day prank was in store for the market.
The treasury yield curve for 3 month and 10 year bonds inverted in March for the first time since 2007, often deemed a recession warning sign. Our outlook remains upbeat. Company earnings have largely outperformed, energy prices are rising, and US economy fundamentals appear fairly stable, even if subdued. As far as the latter, jobs growth has been excellent, despite recent hiring data slipping. There has been modest increases in wages and consumer confidence, albeit inflation, housing and manufacturing remain quiet.
The highs and lows of corporate earnings
With the quarter concluding, only a small selection of companies reported earnings in March. Among higher profile businesses, there were mixed results.
Target (TGT) and Costco (COST) highlight the retail sector isn’t prepared to roll over just yet. TGT announced its best result in years, with higher sales, earnings and store traffic, while COST produced a resounding earnings beat. Both climbed 10.5% during March. We attribute their impressive results to price positioning as big-box staple retailers, and favour Costco.
Strong growth in China helped Nike (NKE) top earnings forecasts and meet revenue targets, but it lost 6.1% due to subdued North American growth. Expectations were likely built into its all-time high share price before reporting, but we’re excited by China growth prospects.
Despite surpassing consensus targets leading software companies Salesforce (CRM) and Adobe (ADBE) came under scrutiny as they tamed outlooks. Both businesses, with expectations reset and a strong history of beats, recovered from their sell-offs.
Fedex (FDX) missed revenue and EPS forecasts, also lowering its 2019 earnings guidance for the second time in 3 months. While a 5% slide in shares reversed by month’s end, we would be concerned by passive global economic growth, competition levels and squeezed margins.


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What happens to chief executives of car companies after they leave the auto industry? Not all of them disappear off the face of the earth. Sometimes it just seems that way. Here is a sampling of the afterlive of former bossess.
Levy, 72, may be the busiest of the former French carmaker CEOs. He is currently chairman of the supervisory board of CDR (Consortium de realisation), the body set up by the French government to sell the risky non-banking operations of the troubled state-owned Credit Lyonnais. He is also chairman of the supervisory board of Lagardere SCA, a major defense and media group that includes the French publisher Hachette and the defense and aeronautics group Matra-Aerospatiale. Since 1994 he has also been chairman of Cercle de l'industrie, an influential business lobby created by Dominique Strauss-Kahn, France's former ministry of finance. Levy is also honorary chairman of Renault, where he still has an office and a personal assistant.
Hahn expected life to slow down when he reached his 70s. It hasn't, although he did retire as chairman of the Volkswagen AG supervisory board two years ago when he turned 70.
Hahn ran Volkswagen through most of the 1980s. After retiring as management board boss in 1991, he chose to remain living in sleepy Wolfsburg, Germany, VW's hometown. But he's a jet-setter. Hahn serves on so many corporate boards and makes so many trips to the USA that he has a special code on his passport that whisks him through the long lines at US passport check lines.
Last autumn, he was named one of 'Corporate America's Outstanding Directors for 1999' by the publishers of Director's Alert.
He remains a member of the VW supervisory board and is honorary chairman of Audi, Seat and Skoda. Among the many boards he serves on in Europe and America are Perot Systems, Benetton, Thyssen and TRW. He is also advisor to the prime minister of the Republic of Kyrgyzstan and president of the German-Czech Chamber of Commerce.
Hahn's office is located on the top floor of the Wolfsburg art museum. His influence has helped the otherwise obscure museum attract top exhibitions. Despite his busy schedule, Hahn still makes time to spend at his villa on the Italian island of Sardinia - near the homes of the Aga Khan and ItalDesign's Giorgetto Giugiaro.
Three years ago, Keith Butler-Wheelhouse did what few executives could afford to do - he resigned the top job at General Motors' Saab Automobile unit because he was tired of cold and distant Sweden.
The South African native ended up in the UK. Butler-Wheelhouse is now chief executive officer of Smith Industries, which makes aerospace and medical systems equipment.
Although Butler-Wheelhouse left the car business, he retains a major stake in Delta Motors, assembler of GM models in South Africa. He led a management buy-out of the company in 1987.
In the automobile industry, John Egan will be remembered for steering Jaguar into the embrace of Ford Motor Co. in 1989. Once he left Jaguar after the merger, Egan quit the auto industry for good and went on to success in areas far removed from it.
His primary job during the 1990s was as chairman of BAA plc., the company that privatized airports in London and elsewhere in the UK. Under Egan's guidance, London's airports became retail powerhouses as the airports under BAA control developed into major shopping centers.
Egan retired from BAA last autumn and is now chairman of MEPC, a real estate company. Egan has also served on numerous boards in non-executive positions.
Hughes, once considered heir-apparent to GM Chairman Jack Smith, is now GM's low-key vice president for new business strategies in Detroit.
His career as chairman of Adam Opel, president of GM Europe and later Zurich-based head of GM international operations, was sidelined by a management revolt at Opel in 1998. Hughes last made news in March 1999 when it became public that he was a top candidate for chairman of UAL Corp., the US-based parent company of United Airlines. Hughes didn't get the job.
Hanon, 69, was dismissed as Renault chairman in January 1985 by French Prime Minister Laurent Fabius. But he has never lost touch with the auto industry. He shows up at all the major auto shows throughout the world. Among his French industry colleagues, Hanon is still considered a man with a great sense of product.
He is often invited by Porsche or Ferrari to drive their new cars. Hanon & Associes, the consultancy he founded in 1986, has been an adviser not only to corporate mergers and acquisitions, but to central European governments. In the early 1990s, he helped to restructure car and truck industries in the region after the fall of communism.
Herman was the first chairman of Saab Automobile in 1990 after General Motors bought 50 percent of the company. In 1992, he became chairman of GM's Adam Opel subsidiary. His rise came to an abrupt halt in 1998 when a management crisis and conflict with Lou Hughes, president of GM International, led to his transfer to Russia.
The ruble collapsed shortly after Herman's arrival in Moscow as GM's vice president for Russia and the former communist markets. GM's plans were put on hold, but Herman is still in Russia. He lives in an apartment in Moscow, but on weekends returns to his home near Russelsheim, Germany, where the rest of his family remains.
John Towers has gone down in UK auto industry history as the man whose downfall from the the top job at Rover Group was famously chronicled in a 1996 BBC television documentary series. Towers was the mild-mannered, thoughtful executive trying to modernize an antiquated, poorly-funded carmaker, while struggling to deal with the management approach of new owner BMW.
When they realized just how good a story they were getting, the TV crew extended filming by eight months. By that time, Towers had said goodbye to the company which would become known in Germany as 'The English Patient,' and BMW was heading toward the boardroom bust-up which would result in the departure of both Bernd Pischetsrieder and Wolfgang Reitzle in early 1999.
Since then, Towers has opted for a quieter existence. After leaving Rover, he took a few months' holiday to get his golf handicap and his blood pressure down. He then took up a job as chief executive of UK company Concentric. In 1998, he became chairman of another engineering company, Serck Heat Transfer Group.
He maintains his links with the auto industry through Serck, which makes exhaust gas coolers for such cars as the Ford Focus, Land Rover Discovery, VW Golf and Passat - and even the BMW 3 series.
Forced out as chairman of Mercedes-Benz in January 1997, Helmut Werner walked the auto show at Frankfurt last autumn as an observer with his personal assistant trailing along.
Werner is currently chairman of the supervisory board of Expo 2000, a major exposition planned for later this year in Hannover, Germany. He also sits on a handful of prestigious company boards.
The day Bill Hayden was due to move from his home in Essex to Warwickshire in 1990, he couldn't help his family with the moving because he had to go into hospital for an emergency triple heart bypass. Hayden, the tough-talking former manufacturing chief of Ford of Europe, recovered sufficiently to take over the chairmanship of Jaguar. Under his stern guidance, Jaguar recovered. But the heart operation had been a warning. Hayden was never one to take it easy on the job.
The stress of turning Jaguar around took its toll on his health and he decided to retire in 1992, giving way to Nick Scheele. Hayden now lives quietly with his wife at his country cottage in the Warwickshire village of Henley-in-Arden.
The former president of NedCar in Born, the Netherlands, left in late 1996. Sevenstern, who spent most of his career at Shell, masterminded the joint venture between Volvo, Mitsubishi and the Dutch state.
Not a automotive man by nature or education, he was later appointed president of Connexion, a Dutch public transport board that supervises integration of national bus companies.
After leaving as chairman of PSA/Peugeot-Citroen in 1984, Parayre played a key role at Dumez, a large construction group that was owned at that time by his wife's family, the Chaufours. He earned the family a great deal of money by merging Dumez with utility group Lyonnaise des Eaux in 1990.
Parayre was later the chairman of Transmanche, the consortium that built the Channel tunnel.
Since 1994 Parayre has been partnered with French businessman Vincent Bollore, who owns France's biggest shipping company SCAC Delmas.
Parayre is also a member the boards of PSA/Peugeot-Citroen, Vallourec (steel), Coflexip (offshore equipment) and Stena (shipping).
Volvo has always been renowned for promoting safety. So it's no surprise to find Roger Holtback, chief executive of the company between 1983-90, involved in health care.
Holtback is managing director of Swedish investment company Bure, which recently bought St. Goran's hospital in Stockholm. Bure has taken advantage of upheavals in Sweden's health care system and has invested heavily in this area.
Bure also has several information technology interests.
In 1996 Holtback was rumored to be a candidate to take over as managing director of Swedish car safety equipment maker Autoliv.
The chairman of Ford of Europe in the mid-1990s, Caspers joined Ford in 1958 as a trainee. He retired in 1996, but didn't quite get the carefree life of fishing and puttering around the house that he hoped for. Caspers still lives in Cologne, where Ford of Europe is headquartered. He spends a lot of time in his duties as chairman of Ford of Germany's supervisory board.
His office is just a few steps away from those of the current bosses of Ford of Europe - only it's a lot smaller than his old one.
Soren Gyll (below) replaced Pehr Gyllenhammar as chief executive of Volvo in 1993, following the abortive attempt to merge with Renault. During his four-year term, Gyll trimmed Volvo back to basics, selling its drug and consumer product interests and bringing it back into the black.
Gyll is now chairman of pharmaceutical giant Pharmacia & Upjohn. It's a long way from the car industry. The firm's products include the incontinence cure Detrol, AIDS treatment Rescriptor and baldness therapy Rogaine.
Gyll was appointed chairman of the Federation of Swedish Industries in September 1999, and recently visited China as part of a Swedish trade delegation.
After a long career at BMW, Walter Hasselkus took over as chief executive of UK subsidiary Rover in September 1996. He had plans to turn Rover into an upmarket global brand, but resigned in December 1998 saying 'someone had to stand up and be counted' over mounting losses.
Hasselkus came to Rover directly from running BMW's motorcycle division. He led BMW's marketing, distribution and sales operation in the UK from 1980-84, and was in charge of the company's South African operations for five years. Before joining BMW Hasselkus worked for Osram, the electrical company.
Hasselkus, who remains an Anglophile, moved back to Germany and has now retired.
After two years as AB Volvo chief executive, Christer Zetterberg (above) left the company in 1992 with Skr22 million ($3 million) in his pocket - at the time, the largest pay-off ever made to a Swedish company executive.
A year later, Zetterberg moved to London to become managing director of venture capital company Merchant Venture Investments. He remains involved in the venture capital area, and is currently chairman of Industrial Development and Investment (IDI), a private equity fund also supported by ex-Volvo chief executive Soren Gyll. Zetterberg is also chairman of Swedish information technology firm Turnit.
Romiti, 76, retired as Fiat Group chairman in 1998. He is now chairman of Rizzoli-Corriere della Sera, Italy's largest publishing group. He is also a major shareholder of HDP, a holding company with interests in the publishing and fashion industries.
Vittorio Di Capua
Di Capua, 66, held key commercial and financial positions for 40 years at Fiat Auto and was chief executive of Lamborghini from 1996-99. He is now head of Natuzzi, the maker of the Divani&Divani sofas in his hometown of Matera in southern Italy.
AB Volvo's chairman between 1971-93, Gyllenhammar resigned after failing to complete his proposed merger with Renault. Gyllenhammar, 66, later worked at the New York investment bank Lazard Freres. Since 1998, he has been chairman of CGU, the UK's largest insurance company.
Ghidella, 68, was ousted as Fiat Auto CEO in November 1988. After a year of consulting with Ford Motor Co. and various auto suppliers in Italy (Graziano Trasmissioni) and in Switzerland (Saurer Group) he has now retired. He lives near Lugano, Switzerland.
Georg Karnsund was chief executive of Saab-Scania for seven years before becoming chairman of the Swedish National Road Administration in 1990. He held that post for four years, and is now on the boards of several smaller companies including construction machinery maker Svedala.
Ake Norrman was chief executive of Saab Automobile between 1987-89. He switched his allegiance from cars to trucks, becoming head of sales and marketing overseas for Swedish bus and truck maker Scania. Norrman was closely involved with Scania's move into China, and helped establish a joint venture with local maker Shandong Bus.
In February 1997 Norrman became managing director of Svenska Volkswagen AB, jointly owned by Scania and VW.
Frisinger is a Volvo man through and through. He stepped down as AB Volvo chairman in April 1999 after 48 years with the company. He has now retired from most business life, although he still sits on the board of Swedish furniture retailer IKEA.
Audi's chief executive from 1993-1994 spent most of his career at Daimler-Benz. After leaving the top job in Ingolstadt, he joined the German roof systems supplier Webasto in Munich as chief executive. He still holds that job today.
Eberhard Von Kuenheim
BMW's legendary management CEO from 1970-1993 heads a new foundation bearing his name. After retiring last year as chairman of the supervisory board at age 70, shareholders created the Eberhard von Kuenheim Foundation as a gesture of honor. The foundation is now being set up. Its primary mission is to promote and fund engineering development and young engineers. Von Kuenheim still lives in Munich but spends time at the family home of his wife in Saxonia, in eastern Germany.
Graham Morris, former chief executive of Rolls-Royce Motor Cars, resigned after the takeover battle for the group resulted in the splitting of the Rolls-Royce and Bentley marques between VW and BMW.
He called the decision 'very bizarre' and quit on principle.
Morris is now chairman of Jensen Cars, and is intent on reviving the classic English sports car brand. Jensen made a comeback at last October's London motor show with the launch of its S-V8 roadster and the appointment of a new UK dealer network.
Peter Ward stepped down as chief executive of Rolls-Royce Motor Cars in 1995. He took up the same role with Cunard, the UK shipping company, in the summer of that year, and set about improving its image in wake of a series of damaging stories about Cunard's QE2 luxury liner.
At the start of 1997, Ward became chief executive of Jardine Mathieson's car distribution division, Jardine International Motor Holdings.
He will leave Jardine at the end of February.
Born in 1929, Heinz Branitzki joined Porsche as financial manager in 1965 and became board member for finance in 1976.
Branitzki succeeded Peter Schutz as Porsche chief executive in 1988 but retired two years later to enjoy his hobbies: mountain walking, skiing and historic literature. He lives in the Stuttgart area.
The son of the first post-war mayor of Berlin was chief executive of Daimler-Benz from 1987-1995. Reuter turned Daimler-Benz into a diversified industrial conglomerate, pushing the company - unsuccessfully, as it turned out - into such businesses as consumer appliances and aeronautics. He later wrote a book which sharply criticized his successor, Jurgen Schrempp. But Reuter still keeps an office at DaimlerChrysler's headquarters in Moehringen (Stuttgart) because of his former status as company chief executive. He also gets a chauffeur-driven company car. He lives in the Stuttgart area, is a member of the supervisory board of the Berliner Bank and spends much of his time sailing.
Porsche's chief executive from 1990-1992 left as the company's troubles multiplied in the recession of the early 1990s. After Porsche, the longtime Nixdorf Computer AG executive became managing director of General Electric's GE Medical Systems Unit in Buc, France, near Paris. Bohn moved the division into the black by 1995, then left to become CEO of General Electric Deutschland. He left GE nine months ago and is now working as a management consultant.
Calvet, 68, left the top job at PSA/Peugeot-Citroen in October 1997. Since then he has been an active board member of several companies, including the French bank Societe Generale, retailers Galeries Lafayette and Groupe Andre, and the insurance giant Axa. He is an adviser to Banque de France - the French central bank - and the German insurer Allianz.
Calvet also stays in touch with Pierre Peugeot, the head of PSA supervisory board and Peugeot family leader.
Calvet also finds some time to write books. In 1998, he published a criticism of France's policy toward the European Union following the Maastricht and Amsterdam treaties. It was entitled The Great Collapse: How To Prevent It.
Calvet was expected to run in the European Parliament election last June. He didn't, but is now thinking of starting his political career as a candidate in the Paris municipal elections in 2001.


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Nearly 95,000 Young People Want to Explore Europe with a Free TripTourism | June 7, 2019, Friday // 09:15| views
Nearly 95,000 young people have applied for a free trip to get to know Europe, the European Commission said. Approximately 20,000 18-year-olds are selected to travel between 1 August 2019 and 31 January 2020 for up to 30 days at the expense of the EU budget.
The selected will be able to travel alone or in a group of up to five people. Most of them will be traveling by train. Participants are expected to tell their experiences on social networks. Next year, another 20,000 young Europeans are expected to travel for free in the same way.
Last year, the EU spent EUR 12 million on the travel of about 30,000 young people. For this year, the budget is 16 million euros. Two-thirds of the participants said they could not afford the cost of such a trip alone. For some, this is the first time they travel alone without parents or guardians.
If the EU institutions approve the EC's overall proposal, from 2021 to 2027, another 1.5 million 18-year-olds will be able to travel free of charge under the same program.


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On Wednesday, the tax administration filed for bankruptcy against the artisan cell company BrewDog.
Tax administration files for bankruptcy of Brewdog, a company specializing in artisanal cells.
According to information collected by Suomen Asiakastieto, the taxpayer filed for bankruptcy from the Scottish brewery Brewdog’s Finnish company in the Helsinki District Court on Wednesday. The majority of the Finnish company is Finnish-owned.
Brewdog closed the popular bar in Helsinki’s Viiskulma for six years permanently in May last year due to the interest rate crisis.
At that time, the intention was that the company’s Tampere restaurant would continue to operate after last spring’s restaurant restrictions, the company’s Finnish CEO Joakim Stenius said.
The profitability of Brewdog’s Helsinki bar was already weighed down by the lack of a terrace before the corona pandemic. The bar did not get from the condominium permission for a terrace.
When you start in 2014, Brewdog was exceptional in its mission. The bar only sold artisan products and the prices were in line with that.
The turnover of Brewdog’s Finnish company in the second year was EUR 1.0 million and the operating loss was EUR 211,000.
Debt collection agencies have bearded debts to Brewdog along the spring. Some of the payment requests have been only one hundred euros.
#Companies #taxpayer #filing #bankruptcy #Brewdog #spectacularly #arrived #Finland #debts #euros #background


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Coffee shop sales in the UK are set to burst through the £3bn barrier this year
The daily caffeine boost has become a must for millions of people young and old as they battle to get through the hassle of their time-strapped working day.
With no High Street in the country complete without an array of speciality coffee shops, the daily purchase of espressos, lattes and cappuccinos, has become a crucial part of the consumer culture, the latest research shows.
Data from retail analysts Mintel reveals that this year coffee shop sales are set to reach a record new high.
The coffee shop boom has been remarkably recession-resistant in the past decade
The report found that the UK coffee shop market enjoyed an estimated growth of 6 percent in 2015.
Over the past five years, the market has shot up an impressive 28 percent from £2.3bn in 2010 to £2.9bn in 2015.
The daily caffeine boost has become a most for millions of people
This year coffee shop sales are expected to reach £3.1bn with the market forecast to increase a further 26 percent over the next four year to reach £3.7bn in 2020.
Jonny Forsyth of Mintel, said: “The nation’s appetite for coffee shops shows no signs of abating.
“The coffee shop boom has been remarkably recession-resistant in the past decade, which illustrates just how important a part of UK culture the fresh, speciality coffee habit has become.”
Last year’s boom was helped by the increase in real incomes.
Over the past five years, the market has shot up an impressive 28 percent from £2.3bn in 2010
As many as three quarters of Britons buy hot drinks on the high street, with just over one in four using independent coffee shops or cafes, another quarter using fast food chains and a significant minority - 14 percent getting their brews from restaurants, pubs and hotels.
Mr Forsyth added: “The large specialist coffee chains face increasing competition from non-specialists such as pubs and fast food restaurants, which continue to improve and upgrade their hot drinks offers.
Only 1 in 4 people buy their morning brew from an independent coffee shops
“They also face increased competition from smaller specialists, often at the forefront of innovation, which are attracting funding for expansion.
“Representing considerable competition to specialist coffee shop brands, independent stores are likely to grow significantly as coffee drinkers seek a more unique, artisanal, high quality and ‘third wave’ coffee experience.”


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Head of Tehran Fruit and Vegetable Traders Union has said his union is planning to export over two million tons of fruits in the current Iranian calendar year (ends in March 2022), ILNA reported.
Director General of Improving Quality, Processing and Promoting the Market of Aquatic Animals Department of Iran Fisheries Organization says according to the statistics, Iran exported 6,210 tons of canned fish in the last Iranian calendar year which ended on March 21 and it earned the country some $24m.
Managing Director of Iran’s Technical and Soil Mechanics Lab Company (TSML) has said his company is ready for the exports of engineering-related laboratory services to foreign markets especially neighboring countries, IRIB reported on Wednesday.
The value of exports from Iran’s eastern South Khorasan province rose 41 percent in the first four months of the current Iranian calendar year (March 21-July 22), as compared to the same period of time in the past year, according to a provincial official.
The value of Iran’s export from the mining sector stood at $1.29 billion in the third Iranian calendar month Khordad (May 22-June 21), which was a record high, the data released by the Islamic Republic of Iran Customs Administration (IRICA) indicates.
Deputy Head of Iran-Iraq Joint Chamber of Commerce says statistics show that Iran’s exports to Iraq in the last month of Iranian calendar year, Khordad, soared from $950m to $2.350b and it was almost doubled and this rise is not normal and it seems major part of exports belongs to gas revenues whose bill and payment in several months has been accumulated in the last month statitics.
Iran’s export of steel products increased 215 percent during the first month of the current Iranian calendar year (March 21-April 21), as compared to the same period of time in the past year.
Head of Iran-Turkey Joint Chamber of Commerce Mehrdad Saadat Dehghan says the condition for holding a permanent fair has been readied as Iran and Turkey are seeking materialization of their $30b trade target.
Head of Atomic Energy Organization of Iran Ali Akbar Salehi said on that Iran is a leading exporter of radio-pharmaceuticals.
Iran’s foreign trade stood at $7.46 billion during the 12th month of the last fiscal (Feb. 20 to Mar. 20).


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February 11, 2021 – Walmart, Sam’s Club and Walgreens commence presenting COVID-19On Friday, via the Federal Retail Pharmacy Method, will give pictures to people today who want a coronovirus vaccine, joining a list of other national retail chains.
CVS Health and fitness will also give vaccinations in 11 states on Friday, with the scheduling procedure opening on Thursday. Clients can book an appointment atOr by contacting the CVS pharmacy application or customer provider line.
The company mentioned, “People today eligible for COVID-19 vaccination are questioned to use acceptable electronic channels for proper availability or to get in touch with client assistance.”.
Costco, Kröger, Publix and Reit Assist are also selecting, and a lot more retail web sites will open quickly. The federal federal government is partnering with 21 national pharmacy chains and independent pharmacy networks, which perform according to the dosage.
Far more than 1,000 Walmart and Sam’s Club pharmacies in 22 states will obtain federal vaccine allocation this weekEmphasis on areas achieving clients in underlined communities with restricted entry to wellness care. Walmart and Sam’s Club are also vaccinating via state allocation in 11 states and the District of Columbia.
“90 per cent of the region resides inside of 10 miles of Walmart. “We are at the coronary heart of quite a few rural and ineligible communities, and we are committed to providing access to vaccines as teams turn out to be qualified,” the assertion explained, by Cheryl Pegas, govt vice president of wellness and wellness for Walmart. reported in.
“Vaccinations are vital for reopening nationwide to gain widespread immunity,” he stated.
Even though preliminary vaccine materials are small, the corporation said, Walmart and Sam’s Club Pharmacy professionals could expand the vaccine’s achieve as additional doses are shipped each week. Walmart has labored with the CDC to uncover out which locations should really have vaccine materials primarily based on populace density, customer demographics, an infection charges, and regional health care entry.
Qualified buyers can agenda a vaccine appointment on itor At the time to open up appointments. Membership is not essential to acquire a shot at Sam’s Club.


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How Payed credits a child’s future and lends parents a hand to cover school loans
Most schools these days charge fees upfront, and the ordinary Indian parent is forced to go to loan sharks to pay for a child’s education.
Ask any average blue collar worker in India and he or she will speak about the trials and tribulations of funding a child’s education.
“I believe parents should pay on a monthly basis, and not upfront for the whole year. I realised that this was a problem as most parents don’t have the savings to pay upfront,” says NV Subramanian, Founder and CEO of Payed.
N V Subramanian
This was the reason Payed came into existence - to smoothen out the financial crunch facing parents. Given the protests across the country due to fee hikes, it was time to address this issue. Payed also came out of NV Subramanian’s personal experience. It addresses a core issue of lump some fee payment and on-time fee collection by educational institutes.
Payed was launched in January 2018 when Subramanian decided that he had to do something about giving parents access to formal credit. Today, Payed has 100 customers on board.
As an affordable, subscription-based solution that requires absolutely no collaterals, deposits, payment gateway charges, processing or application fees, Payed frees the parents from the hassle of paying fees quarterly, semester-wise, annually or availing interest-ridden loans from the market.
Instead, it helps education institutes get paid as per schedule, freeing them to focus more on academics, without any cost or risk. At the core, it works with parents, education institutions, and financing institutions.
Parents can also secure loans, and Payed has created a new loan category for financing institutions while also helping schools in payment collections.
The founder’s journey
NVS, a graduate of BITS Pilani and IIM Lucknow, with more than 17 years of work experience in ITC, Future Group, Samara Capital, and Snapdeal, has throughout his career built businesses around consumers: managed large teams (1,500 people), led large businesses (Rs 1,000 crore revenue) and won numerous awards (example, best iOS app of the year, marketplace category, for Shopo in 2015).
Creating innovative solutions with technology has been NVS’ legacy be it India’s first smart card-based CRM solution at ITC or the chat-based ecommerce platform at Snapdeal (Shopo) among others. This foray marks his entry into the education sector.
As a subscription-styled solution, Payed can be accessed with an application online free of cost. The application process is digital, and does not involve any visit to a bank, submission of any collateral or cash deposits. The subscription charges are transparently mentioned on Payed’s website, unlike any other financial service. Applicants are evaluated on a few standard parameters. And once selected, they receive their Payed card and account within seven to 15 days.
The investing, the learning
Payed secured angel funding from reputed investors and leaders from the education and financial services industry, and a line of credit up to Rs 100 crore from RBL Bank. The founder himself has invested Rs 40 lakh in the business.
"The key challenges have been building a financial product offering (subscription-styled) different from usual options present in the market (loans, subvention etc.), and convincing reputed financial partners to back us. The other challenge includes communicating this novel concept to different stakeholders,” says NVS.
In the next 12 months, Payed wants to help 10,000 salaried parents become Payed customers, and it aims to wrap up a round of institutional funding too. “We plan to expand our team to about 30 to 40 people from the current strength of 10. We have a long-term vision of processing education fees worth $1 to $5 billion in the next five to seven years,” NVS adds.
"We have received a very encouraging and positive response from middle class parents - our key target audience. We are looking to engage with parents within an income bracket starting from Rs 3 lakh to Rs 20 lakh to Rs 25 lakh. We receive anywhere between 50 to 100 applications from salaried parents daily,” NVS explains.
What’s more, over 50 plus quality institutions have adopted Payed to offer a monthly fee payment module.
It is a platform that empowers parents to pay pre-schools, schools, colleges and coaching centre fees monthly in a simple and seamless manner.
Parents can pay education fees online to institutes through www.payed.co.in and repay monthly. Customers can also access Payed through RBL Bank’s co-brand credit card partner, which works on the Mastercard network. The solution also helps parents earn rewards up to Rs 12,500 per annum on use basis.
According to IBEF, the education sector in India is estimated at $91.7 billion in FY18 and is expected to reach $101.1 billion in FY19.
MPower Financing works with a similar model in the USA though it only gives loans, and does not collect fees on behalf of the institutes. The company competes with regular fintech companies. Gyan Dhan, Credila, and Shiksha are some of the companies that provide finance to students. Yet, there is no business focused on parents. Proving that NV Subramanian is right on the money.
(Edited by Suruchi Kapur Gomes)


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Some of the most interesting innovations in the data center industry border on the futuristic — while some could be realistic for the average company.
Microsoft, for instance, submerged an encased data center in the ocean as an energy-efficient cooling alternative, an innovation that may be years from widespread adoption.
However, Apple, earlier this year, announced that it was using wastewater treatment water instead of tap water for its data centers, saving nearly 5 million gallons a year. In that case, the mayor of Prineville, Oregon, noted that it could pave the way for other company data centers to use wastewater as a resource.
Here are a few more innovations that could prove realistic for widespread adoption in 2017 and beyond.
Vertical data center design. Google is among the companies exploring data center designs that are going vertical, instead of the traditional horizontal design. With cloud computing gaining momentum, building a four-story data center for server farms is a more feasible option. As a result, companies will be able to hold more servers without a significant footprint.
Cybersecurity innovations. With the global data center security market expected to hit $17.84 billion in sales by 2022, it makes sense that security will see its share of innovations. Artificial intelligence is currently being explored as a possibility of detecting variations in behavior that could be an indicator of an impending cyber attack.
While there are concerns, it could be among the innovations explored for this segment of the industry. Speaking of artificial intelligence, Google has already successfully used AI to significantly reduce energy consumption.
Micro data centers. To meet increasing demand for Internet of Things (IoT) and mobile computing, more companies are relying on micro data centers to deliver content closer to the edge, improving experiences for consumers throughout the nation.


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Flipboard sees magazine future in tablet computers
Wednesday 14 September 2011
Flipboard chief executive Mike McCue on Monday said the startup's iPad application has been downloaded more than 3.5 million times as tablet computers enable personalized Internet-Age magazines.
"The tablet, and principally the iPad, is creating a totally new kind of consumption experience," McCue said during an on-stage chat at a TechCrunch Disrupt conference in San Francisco.
"All these things people have dreamed about are finally happening," he continued. "Technology is finally at a point were it is possible to hold what feels like a magazine in your hand and thumb through it."
Flipboard software lets people customize news, social networks and other "feeds" in digital magazines on iPads and then "flip" through Web pages as though reading an ink-and-paper publication.
The application was released about 14 months ago.
The number of "flips" per month has climbed to more than 550 million from 250 million in June and the startup just introduced its first ad to generate revenue, according to McCue.
Use patterns show that people use Flipboard at late evenings, mornings when one might be having breakfast, and on weekends.
"It lends itself well to downtime scenarios when you want to step back and think about your day," McCue said.
Flipboard is seeing "incredible acceleration" in the tablet computing platform dominated by Apple, which has reported selling 35 million iPads in its first 18 months on the market.
"Amazon's tablet is going to be really interesting," McCue said, declining to comment further on unconfirmed reports that the Kindle maker plans to soon release a more sophisticated tablet computer.
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What Role Will Beauty Play In Tomorrow’s Health Oriented Retailers?
There are major changes taking place in not only the nation’s drugstores, but in the country’s largest discounter, Wal-Mart, as well. The emphasis is on health care and it begs to ask if cosmetics play a role.
Wal-Mart has made it clear it wants to expand on its 140 in-store health clinics by partnering with outside vendors to provide chronic and preventative health care services. The scope reaches beyond what has already been offered such as strep tests and physicals to diabetes counseling and treating HIV. Wal-Mart has independently owned clinics catering to walk-in patients at this time.
Wal-Mart is not the first retailer to tackle the concept. CVS, Walgreens, Kerr and Duane Reade have had in-store clinics for years. Walgreens recently unveiled stores where pharmacy sports many new features.
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The pharmacists are encouraged to navigate through the store and they have been given iPads with health guides loaded to answer patient questions. There’s also special desk areas where patients can ask questions and more private consultation rooms. There’s also a special Walgreens Web Pickup allowing customers to order online and pick up at the store.
“The concept is meant to create a pharmacy and health care ‘help desk’ where customers get solutions or referrals for their personal health questions,” Colin Watts, Walgreens chief innovation officer said.
As retailers seek to become full health care providers, there are some wondering if cosmetics still fits into the puzzle. The answer to most is a resounding yes. However, beauty will have to take on more of a position as a health proposition, too.
The products that will work best in the new health environment, said experts are those with good-for-you marketing positions. Cosmetics with skin care benefits will become more crucial, buyers said. Along with iPads being used for pharmacy, many see applications for beauty, too. There will be more refrigerators with beauty products that are ingested in beverages, the mavens suggested. Hair care, skin care and even cosmetics will all have much more technical ingredients. Have thinning hair? Ask the roving expert who can make recommendations. Skin pigmentation problems? They’ll be a whole area devoted to that. Services such as manicures and even massages will be prevalent.
Will there still be room in the store for fun and funky cosmetics? The experts think, yes, but in a separate area set up almost like a candy store.
No matter what, drugstores of tomorrow are going to look much different and could be where most Americans go for health care.
People, Places and Things
A few words with Lynn Franco, director of the Conference Board Consumer Research Center, on the approaching holiday season.
Franco: As the holiday season approaches, we once again find consumers in a frugal mood. With the overwhelming majority of consumers expecting to spend the same or less than they did last year, it’s not surprising that they expect a large share of their purchases to be on sale or discounted. Four-out-of-10 holiday shoppers said they expect more than half of their purchases to be on sale or discounted. An additional 3-out-of-10 said they expect one-quarter to half of their purchases to be discounted. Close to two-thirds of consumers expect to purchase a portion of their holiday gifts online, with about 15 percent saying more than half of their gifts will be purchased online.
What’s In Store:
Hain’s Uses NSF/ANSI 305: Hain Celestial Group’s Avalon Organics skin care brand has transitioned its line of personal care products to the NSF/ANSI 305 Standard for Personal Care Products Containing Organic Ingredients. With this transition, Avalon Organics also has revamped its Vitamin C Renewal, Lavender Luminosity, CoQ10 Repair and Essential Lift skin care lines.
Spoiled Rotten: Claire’s is launching a line called Spoiled Rotten to appeal to young girls with clever skin care, hair items and selected cosmetics. It is a move to propel Claire’s back into beauty, a category that had been a big profit center for the tween merchant.


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INSTEX Develops New Service in Bid to Fast-Track Iran Transactions
The state-owned company at the center of European efforts to save the Iran nuclear deal is entering its next phase of development. In a push to process transactions more quickly, INSTEX is rolling out a new factoring service for European exporters. The company is also making new hires that will enable it to expand operations in the coming year.
Having reached the end of his six-month contract, Per Fischer is stepping down as the president of INSTEX, the state-owned company established by France, Germany, and the United Kingdom to support trade with Iran. Fischer’s replacement is former German ambassador to Iran Bernd Erbel. A career diplomat, Erbel has been posted in Lebanon, Saudi Arabia, and Egypt, and served as ambassador to Iraq prior to his stint as ambassador to Iran.
The change in leadership comes as INSTEX finalizes several other management hires. By filling these roles, INSTEX will enter a new phase of operation as a standalone company based in Paris. Until now, both INSTEX’s outreach to European companies and its coordination with its Iranian counterpart, STFI, has been led by civil servants at the foreign and economy ministries of the company’s three founding shareholders.
Fischer, a former Commerzbank executive, had been selected as the company’s first president due to his banking background. But Erbel, who lacks commercial experience, will have a different mission as he assumes his leadership role. Erbel will leave key commercial responsibilities to the new managers, focusing instead on ensuring a constructive working relationship between INSTEX and STFI. In recent weeks, cooperation between the two entities has slowed. Iranian authorities have called for INSTEX to be funded by Iran’s oil revenues—a move that would leave INSTEX vulnerable to sanctions from the United States.
Erbel’s deep knowledge of Iran may help him navigate the tensions surrounding the INSTEX project in Tehran and reassure Iranian stakeholders of the seriousness of European efforts to develop the mechanism further.
The goal for INSTEX remains to ease Europe-Iran trade by developing a netting mechanism that eliminates the need for a cross-border financial transactions. In this model, INSTEX will coordinate payment instructions between companies engaged in bilateral trade between Europe and Iran, enabling European exporters to receive payment for sales to Iran from funds that are already within Europe. The counterpart entity, STFI, will then mirror those transactions, allowing Iranian exporters to get paid with funds already in Iran.
Delayed by political disagreements, INSTEX and STFI remain in the process of establishing the netting mechanism. But in a bid to fast-track transactions, INSTEX has opted to roll out a new service that does not require the direct participation of its Iranian counterpart. INSTEX is now in advanced negotiations to a provide factoring service to an initial cohort of European companies.
In factoring transactions, INSTEX will purchase the expired invoices of European exporters who have failed to receive payment for sanctions-exempt goods sold to Iran. The focus on expired invoices allows INSTEX to avoid lengthy French regulatory approvals for a full factoring service. Importantly, INSTEX will not require the goods in question to have been delivered to the Iranian buyer in order for the European exporter to factor its receivables. In this sense, the service approximates a kind of trade finance.
According to a draft contract between INSTEX and a European company seen by Bourse & Bazaar, the purchase price paid to the European exporter by INSTEX would amount to 95 percent of the “assigned receivable.” In other words, INSTEX will charge a 5 percent fee as part of its factoring service. This fee will vary based on the transaction.
Such costs are not negligible for European exporters, especially when considering that INSTEX will require each transaction to undergo third-party due diligence at the exporter’s expense. Yet they are commensurate with the transaction fees typically charged by banks in those cases in which the bank is willing to accept funds originating in Iran. Moreover, for European companies burdened with unpaid invoices, the certainty of payment from INSTEX, a state-owned European company, is inherently attractive.
In some respects, the factoring service is a more appealing solution for companies than the netting mechanism service which INSTEX still intends to operationalize. However, factoring is inherently less scalable as it requires significant capital to be made available to INSTEX in order purchase invoices. INSTEX will also assume the burden of seeking payment from the Iranian debtor.
However, should the factoring solution prove popular, it may be the case that INSTEX could subsequently transfer its newly assigned receivables to STFI, making it possible for Iranian importers to pay STFI for goods purchased from European exporters. Alternatively, INSTEX could open an account either in Iran or at the Iranian bank branch based in Europe in order to receive payment for the outstanding invoices. While conceived as a stopgap solution, the experience with factoring could help INSTEX develop a more robust netting mechanism.
As it welcomes new leadership and pivots to a new service, INSTEX resembles any ordinary startup at a key stage of its development. Like all startups, INSTEX continues to face many hurdles—its success is far from assured, particularly in the darkening political climate. But the individuals responsible for its development are responding to pressure from demanding shareholders and skeptical customers with creative solutions—an encouraging sign.
Photo: Anna McMaster


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Driving relevance means driving growth. Join global brands and industry thought leaders at Brandweek, Sept. 11–14 in Miami, for actionable takeaways to better your marketing. 50% off passes ends April 10.
The New York City Police Department created the social media bedlam moment of the week on Tuesday when it asked Twitter users to share pictures of cops with the hashtag #myNYPD that could be featured on Facebook. The Finest's digital staffers didn't literally request warm, fuzzy photos—though that was certainly their intention—instead leaving what could be submitted to the imaginations of the Twittersphere. And boy, did they get what they didn't intend to ask for, generating a bevy of tweets with images depicting police brutality.


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It’s been a long time since Salesforce helped change the world of technology by claiming it was going to end software. Its model of selling access to a managed service that was hosted on the cloud (what we generically call software as a service today, or SaaS) didn’t end software, of course, but it did turn the world away from buying software in a box.
The trade-offs were simple. Software offered as a service was cheaper upfront but could cost more over time. In return, vendors promised regular updates and you never had an out-of-date version. No matter how you feel about the subscription economy, the shift from buying Microsoft Office in a box to renewing your Microsoft 365 subscription online is now part of our past.
The Exchange explores startups, markets and money.
Salesforce’s model of selling access to its software services on a subscription basis was imperfect. All business models are, but what some folks realized was that while SaaS and its ilk were tidy profit centers for vendors, their costs could wind up misaligned with buyers’ needs. For example, if you pay for more seats than you use, or some of your paid seats only use the service a little bit, you could wind up paying for more software than you really needed.
Enter usage-based pricing, which involves charging for software based on how much of it was consumed. Just like how SaaS products ate up older software sales models, some folks thought that consumption-based pricing would be the next thing. Indeed, Twilio grew to mammoth size on the back of the model, carving a Salesforce-like path forward for startups. From the “end of software” to “ask your developer,” it seemed the future of software pricing was up for grabs, especially during the last venture boom.
Then the economy turned and tech companies suddenly had to deal with customers looking to lower their bills. Based on our read of SaaS companies’ quarterly reports, it seems that while all software companies had some soul-searching to do mid-2022 onward, consumption-based models were hit the hardest. That’s perhaps why Salesforce’s founder is still its CEO, while Twilio’s isn’t.


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News: Reads from WWW
Tuesday, 4 Sep 2012
Toshiba will not be building the first wave of Windows RT devices, but that is only because it's focusing on Windows 8 machines, like the recently revealed Toshiba Satellite U925t sliding Ultrabook.
Frustrated by the lack of innovation in the PC hardware, Valve is taking matters into its own hands and is entering into the computer hardware space.
Toshiba unveils its 84-inch Quad Full-HD TV model at IFA, which makes it the largest 4K-capable television set the Japanese CE maker has yet to unleash. The Ultra High-Definition TV will be released next year with passive 3D features.
Friday, 31 Aug 2012
Korea Times has reported that Samsung plans to sue Apple if it releases an LTE phone.
At the same time as Sony delivers the Android 4.0 ICS update to its existing Xperia smartphone line, the company will also be porting it to its Android-based tablets, the Sony Tablet S and Tablet P. Additionally, Tablet S will be on the roadmap for Jelly Bean sometime down the line, but the dual-screen Tablet P will not be updated.
Wednesday, 29 Aug 2012
Microsoft has released the official SkyDrive app for Android devices.
Motorola and Intel are sending out invites for an event on 18 September in London. It is highly likely that they will be launching an Android smartphone driven by the Medfield processor.
Tuesday, 28 Aug 2012
Another new high level appointment for Yahoo as Kathy Savitt joins the team in the capacity of Chief Marketing Officer. She was the founder and CEO for social commerce company Lockerz and has worked for American Eagle and Amazon.
One of Apple's Senior VPs has remarked recently that the likelihood of an Apple HDTV display materializing in the near future is slim, mainly due to the company's inability to secure rights with major networks to broadcast their content.
Monday, 27 Aug 2012
Macotakara has confirmed that the next Apple-flavored tablet would be indeed called iPad Mini as well as shed some light on the next-gen iPod Nano.


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There’s been several rumors where the Canon 70D release date would have been announced last month, but this did not happen. As you would expect there will now be expectation of the camera maker unveiling the 70D this month instead, but after getting drawn in already, we thought we would look a little further into it.
Okay, we would have hoped to see the release or at least the Canon 70D being debuted shortly after the Nikon D7100 release, but if we were to look at the release dates for to 70D predecessors then we get to see another picture, and it’s not good if you were hoping to see Canon’s 60D successor soon.
Firstly there’s the Canon 40D, which was announced on August 20, 2007, and released later that month. This was then followed by the 50D, which was unveiled on August 26, 2008 and was not released until October. Finally there is the 60D, announced on August 26, 2010 and released on October 15 in that year.
We can see a small pattern appear, which does not look good if you were hoping to see the Canon 70D unveiled within the next few weeks, as it looks as though we will have to wait until August at least. Something else that we find a little strange, the 70D seems to be a year late, although there was a EOS 60Da released to help tide us over until Canon got to work on a completely new model.
The Canon 70D specs will certainly be of a great interest to you, and there have already been several rumors as to what we can expect to see, although we’re sure you will have to pay the price, because new features will surely cost more if we are to go by other camera releases?
*Identifying Monetised Links - outgoing links that we monetise are marked with an '*' symbol, or (AD). Also, prices and information correct at publish time and date.


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Aired 2 weeks ago 8:00
Movie remakes: the good, the bad and the ugly
Monday Morning Critic Podcast
From the news
Aired 3 years ago 15:31
Helena Suric and Gigi Hadid
Vogue Bookings Director Helena Suric is back for the second round of our new monthly model series, and this installment features Gigi Hadid. Fresh off the heels of Hadid’s first American Vogue cover (on stands now), Suric rang up the supermodel to discuss what it was like starring in the August issue almost two years after Hadid recreated Anna Wintour’s first Vogue cover. “I’m so grateful and honored, and it’s brought me to tears many times this week,” Hadid admits. After Hadid reveals her motto is to, “Be kind, work hard, and make a friend,” Suric wonders what it’s like having been captured in front of the camera alongside her closest confidants, from a romantic Naples getaway with boyfriend Zayn Malik to a high-tech trip to Silicon Valley with best friend Kendall Jenner. “I think what Anna [Wintour]’s amazing at is putting people in situations on set that will bring out natural storylines and therefore make incredible photos,” Hadid explains. In addition to how she has used social media as a platform to...
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Hear about travel to Manchester England as the Amateur Traveler talks to Helena Ringstrom about her adopted home.
The Amateur Traveler Podcast
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Helena Suric and Kendall Jenner
How does one become “the face that launched a billion likes”? For Vogue’s September cover girl, Kendall Jenner, it all started with a series of selfies. “I remember being 13 [or] 14 and making the funniest little book for my mom of photos of me that I took,” Jenner recounts via phone to Vogue Bookings Director Helena Suric. “I was like, ‘I want to be a model and you need to help me.’ ” A week later, Jenner was signed by an agency, and the rest is history. While Jenner may be leading the pack of social media–savvy models using Instagram to carve out their futures, she’s also quick to pay tribute to the trailblazers who came before her: “It’s just so impressive to me that models like Cindy and Linda and Christy and Naomi—they didn’t have what I have today to connect with fans, but they still had that connection with a photo.” Of course, it never hurts to consider a new and different perspective, or in Jenner’s case, an older lens. “I use an old vintage film camera and it takes some amazing, authentic...


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Sprint Nextel is reportedly poised to launch the first WiMax 4G smartphone at the CTIA wireless conference next week in Las Vegas.
According to the Wall Street Journal, the device is manufactured by HTC and is known as the “Supersonic.”
“[The smartphone] represents Sprint’s latest and biggest bet that its WiMax network and promises of a speedier wireless connection will reverse the struggling carrier’s fortunes,” wrote Roger Cheng.
“The company is racing to make WiMax services, which are run by partner Clearwire Corp., available to more people as it hopes to exploit its temporary 4G lead over rivals.”
Avi Greengart, an analyst at Current Analysis, expressed similar sentiments.
“It’s now or never. They won’t have an exclusive on the 4G marketing message indefinitely,” said Greengart.
“[However], Sprint needs to generate awareness. We’ll see if Sprint does a good job of explaining to consumer why they need this.”


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Neufund’s co-founder Zoe Adamovicz and Marcin Rudolf
Germany company Neufund, a blockchain-based equity fundraising platform, has announced it is setting up shop in Malta.
Neufund, set up 18 months ago, allows companies to raise money on an Ethereum-based platform by issuing tokens like shares of stock. Its co-founder Zoe Adamovicz said it was attracted to Malta because of the government’s progressive vision in the blockchain sector.
“Looking at Malta’s vision and progress in creating a complete blockchain ecosystem, we have decided to engage our know-how and offer support in building the blockchain future of this progressive-thinking EU member state,” Adamovicz said. “Together with Malta’s government, we want to kick-start the creation of crypto-friendly laws, with Malta’s Distributed Ledger Technology framework initiative already serving as a great foundation.”
Parliamentary secretary for the digital economy Silvio Schembri said Neufund’s presence in Malta will help create an ideal ecosystem for investors, as well as diversify the market.
“I am overwhelmed by the response so far since this government decided to take the lead in this new emergent sector driven by new technology which will eventually make Malta the blockchain island”, Schembri said.
Since the government unveiled its plans to regulate the blockchain sector earlier this year, a number of blockchain-based companies – including major crypto exchanges Binance and OKEx – have announced plans to move to Malta.


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Cargill Protein opened the doors to its new state-of-the-art North American protein headquarters in Wichita, Kan.
The building was created as a destination to retain and recruit top talent and immerse customers in innovative culinary and food sensory experiences. Designed for collaboration and growth, the headquarters connects Cargill's 800 Wichita-based employees with 28,000 additional colleagues across North America and more than three dozen protein production facilities in the United States and Canada.
"We want to help make Wichita the Silicon Valley of protein, bringing together the best minds, innovation and technology in the industry," says Brian Sikes, president of Cargill Protein.
Crowdsourced solutions from employees guided the design of the 188,000-square-foot building, which includes outdoor Wi-Fi lounges, game tables, grills, a fire pit and flexible workspaces with easy access to shopping and culinary experiences in Wichita's Old Town District.
Benefits of the space include:
- An immersive technology conference room enables employees to collaborate easier and faster with colleagues in global locations from Buenos Aires to Geneva to Shanghai.
- A presentation kitchen connects customers and visitors to food solutions and inspired culinary innovation.
- A sensory center allows Cargill and its customers to conduct product research, focus groups and product testing.
- Dedicated areas to explore sustainability across the protein supply chain.
- Capacity to accommodate 950 employees.
"Our customers rely on us to bring insights to the table and anticipate what consumers need and want," says Sikes. "This building, along with our existing Cargill Innovation Center, creates a destination for customers to tap into our expertise and experience the future of protein."
Cargill announced the project in October 2017.


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By RICK KRANZ
Automotive NewsLacking an innovative automatic transmission for the Vue, Saturn crafted an inexpensive option package to boost sales during the introduction of the sport wagon. The strategy appears to be working. Saturn sold 11,984 Vues in the first quarter and remains on target to sell 50,000 this year, said Jill Lajdziak, vice president of Saturn sales, service and marketing. The Vue went on sale in December. Still unavailable is a continuously variable transmission, which Saturn expected would be ordered on 45 percent of Vues. Saturn reacted by offering a low-cost option package for the base model with a manual transmission. A Vue equipped with the package, which includes such features as a sunroof and power windows, costs $160 over the base model. The CVT is key to the long-term success of the Vue and the 2003 Ion, which replaces the 12-year-old S-series line this fall. The transmission had been expected to go into production this past January in Hungary. The base Vue with the special Sport Plus Power Package gives the manual model a $16,995 sticker price, including transportation. The package includes power windows, door locks and outside mirrors; cruise control; sunroof; and other equipment. A 143-hp, 2.2-liter four-cylinder engine is standard. The model went into production in February. The base Vue, by comparison, carries a $16,835 sticker price, including transportation. "It's about $2,615 in savings for the customer," said Saturn spokesman Mike Gardner. "The vehicle is targeted at youth, that is how we are promoting it. We want the target market to consider this product, and it is working. Last month, we were 40 percent above our sales forecast." Gardner was unable to say what percentage of Vue production carries the $16,995 sticker price. Before the CVT problems surfaced, the four-cylinder with a manual transmission was expected to account for only 5 percent of sales. The manual transmission is produced by Getrag. The four-cylinder Vue with the CVT has a sticker price of $17,775, including transportation, and is aimed at the Toyota RAV4, Honda CR-V and Ford Escape. But quality problems remain an issue with the CVT, which has not been introduced. Last October, Saturn said the CVT would be offered in January. Then, this year, dealers were told it would be introduced in March. Later they were told it would debut in April. Last week, one dealer said it could be early May. General Motors North America President Gary Cowger said the timetable has been pushed back. "I want to make sure that we got it absolutely nailed" before the CVT is released for production, said Cowger, who was interviewed March 27 at the New York auto show. "You will see (the CVT) probably late second quarter or, really, third quarter." But Saturn's Gardner said "there is nothing in the way that we know of that would keep us from hitting the second quarter, and that is what we have been publicly saying." He was unable to predict which month. In March, the automaker said it discovered that several of the transmission's machined parts were defective. The CVT has a steel belt and adjustable pulleys that keep the engine running in the most efficient rpm range, which improves fuel economy. Saturn offers a Vue with a five-speed automatic transmission, but that model is equipped with a 181-hp, 3.0-liter V-6 and all-wheel drive. It is priced in the $23,000 to $26,000 range.
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The CBIZ Main Street Index reveals rising borrowing costs, sticky inflation and staff retention as the most prevalent challenges facing SMBs ahead of likely recession
CLEVELAND, May 24, 2023--(BUSINESS WIRE)--CBIZ, Inc. (NYSE: CBZ), a leading provider of financial, insurance and advisory services, has released the results of its Q2 2023 Main Street Index, taking the pulse of and gauging the outlook for small and midsize businesses (SMBs) amid the current economic downturn. The results show contractions in all facets of business sentiment, most notably revenue and access to credit. The responses brought the index’s Business Confidence Study, a weighted average of SMB confidence-focused questions, down from 68 points last quarter to just above 60 points.
The index depicts a sharp rise in business owners who are concerned about retaining their full staff over the next quarter, as layoffs persist despite relatively strong month-over-month hiring data. Almost half of respondents (48%) listed employee retention as a top concern, up 25% from Q1. Retaining employee headcount trailed worries about a recession (62%) and having enough skilled workers on staff (56%) as the most common concerns, with layoffs across many sectors continuing due to tightening credit conditions and inflation remaining stubbornly high.
"There’s a lagging effect to last year’s interest rate hikes," said Anna Rathbun, chief investment officer of CBIZ Investment Advisory Services. "The latest CBIZ Main Street Index shows the Fed’s actions, along with other factors, are starting to open more cracks in the foundation of the economy. A recession is like a zero-sum game. There will be winners and losers. We’re going to be keeping a close eye on the small and midsize businesses that are poised to do well during the downturn. The coming months will test the durability and savviness of business owners, especially those in industries that are not recession-proof."
Based on a survey conducted between April 24 and May 5, the index analyzed responses from 753 businesses with fewer than 100 employees in 31 industries across the U.S.* The index assesses a range of timely trends, including business sentiment, areas of growth and decline, and price changes due to inflation and inventory levels.
The data was evaluated from an overall perspective, as well as based on company size, region and industry. An interactive infographic with the results is available on the CBIZ website. Key findings include:
51% of respondents have a negative or neutral outlook on the economy: As multiple economic indicators point to a slowing economy, the index revealed that only 49% of respondents reported positive or very positive business confidence over the next six months. Additionally, more than seven in 10 expected a further downturn in the economy, on par with last quarter’s survey.
Sharp rise in concerns about employee retention amid unsettled labor market: A rising number of businesses are concerned about retaining employees amid a labor market that is experiencing steady hiring but also layoffs across many sectors. More than 48% of respondents listed employee retention as one of their key concerns this quarter.
Over 75% of companies raised prices of goods and services in the last quarter: More than three in four businesses reported price increases by at least 1% over the past three months, up from 72% in Q1, due to high inflation remaining persistent, low inventory levels or other factors. Additionally, more than 55% of businesses said they’ve raised prices by 5% or more.
Rising interest rates are having a greater impact on business funding: Twenty-seven percent of respondents said higher interest rates have impacted the funding needs of their businesses, up from 17% in the first quarter. Meanwhile, 64% of companies reported experiencing higher borrowing costs, a figure that remains unchanged from last quarter.
*Note: Not all those surveyed in the CBIZ Main Street Index are clients of CBIZ.
CBIZ, Inc. provides professional business services that help clients better manage their finances and employees. CBIZ provides its clients with financial services, including accounting, tax, financial advisory, government health care consulting, risk advisory, real estate consulting and valuation services. Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting and executive recruitment. As one of the largest accounting, insurance brokerage and valuation companies in the United States, the Company’s services are provided through more than 120 Company offices in 33 states. For more information, visit www.cbiz.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230524005199/en/
Gregory FCA for CBIZ, Inc.