As the debate about future economic growth continues, we provide selected excerpts from Q4 earnings transcripts. Quotes from CEO's of companies across multiple industries. Excluding energy and manufacturing, most CEO's indicated a positive growth outlook for their respective companies and industries.
Economist Intelligence Unit (EIU) white paper produced at the height of the financial crisis in January 2009 outlining the opportunities to learn from the downturn and best practice to success in a changing environment.
Getting back to growth: Global powers of the consumer products industry 2011Alfred_angst
Global powers of the consumer products industry 2011
Getting back to growth
Global powers of CP 2010Global Powers of the consumer products industry, from Deloitte Touche Tohmatsu Limited (DTTL), identifies the 250 largest consumer products companies around the world for the past fiscal year. But the report is much more than a list - it also examines trends for companies to consider as they plan their growth strategies, provides a global economic outlook for retail, and discusses "Q" ratio - a way of drawing inferences about the future performance of retailers by examining current financial information.
Please download a copy of the report below to see the list and read about the themes that will characterize the next few years, such as the emerging middle class in developing markets, rising and volatile commodity costs, and the need for companies to place sustainability at the heart of their business strategy.
In this issue…
…we feature the following markets:
USA – with a spotlight on the chemicals and metals sectors
Belgium – with a spotlight on the construction and automotive/transport sectors
The Netherlands
Finland
Czech Republic
Slovakia
Romania
Atradius Collections sees a marked increase in its caseload
Economist Intelligence Unit (EIU) white paper produced at the height of the financial crisis in January 2009 outlining the opportunities to learn from the downturn and best practice to success in a changing environment.
Getting back to growth: Global powers of the consumer products industry 2011Alfred_angst
Global powers of the consumer products industry 2011
Getting back to growth
Global powers of CP 2010Global Powers of the consumer products industry, from Deloitte Touche Tohmatsu Limited (DTTL), identifies the 250 largest consumer products companies around the world for the past fiscal year. But the report is much more than a list - it also examines trends for companies to consider as they plan their growth strategies, provides a global economic outlook for retail, and discusses "Q" ratio - a way of drawing inferences about the future performance of retailers by examining current financial information.
Please download a copy of the report below to see the list and read about the themes that will characterize the next few years, such as the emerging middle class in developing markets, rising and volatile commodity costs, and the need for companies to place sustainability at the heart of their business strategy.
In this issue…
…we feature the following markets:
USA – with a spotlight on the chemicals and metals sectors
Belgium – with a spotlight on the construction and automotive/transport sectors
The Netherlands
Finland
Czech Republic
Slovakia
Romania
Atradius Collections sees a marked increase in its caseload
Shippers Warehouse, Inc. is a provider of supply chain services (3rd party logistics or 3PL). The Company operates over 4.5 million square feet in 8 facilities in the Dallas/Ft. Worth area and 500,000 square feet in Atlanta, Georgia.
The Georgia facility packaging operations ships out over 3 billion bags per year. Shippers Warehouse is one of the largest co-packers in the Southeast. Shippers operate 9 packaging lines with a ready room that is a showcase for reducing any type of foreign matter. The facility handles a variety of food products, is a leader in recycling, & distribution of products.
Shippers Warehouse, Inc. also has the distinction of having all of its locations ISO 9001:2008 certified. (ISO 9001:2008 certified by Management Certification of North America, an ANAB-accredited certification body.)
Regards,
Bill Stankiewicz
Vice President & General Manager
Shippers Warehouse
Office: 678.364.3475
williams@shipperswarehouse.com
www.shipperswarehouse.com
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
The National Association of realtors share any insight that they may have about the economy, full of good statistics, and information pertinent to this economy.
No bubble trouble; stocks are still reasonably priced. This credit cycle has unique characteristics that continue to make high-yield bonds attractive. Interest-rate volatility poses greater risk than higher rates themselves.
Shippers Warehouse, Inc. is a provider of supply chain services (3rd party logistics or 3PL). The Company operates over 4.5 million square feet in 8 facilities in the Dallas/Ft. Worth area and 500,000 square feet in Atlanta, Georgia.
The Georgia facility packaging operations ships out over 3 billion bags per year. Shippers Warehouse is one of the largest co-packers in the Southeast. Shippers operate 9 packaging lines with a ready room that is a showcase for reducing any type of foreign matter. The facility handles a variety of food products, is a leader in recycling, & distribution of products.
Shippers Warehouse, Inc. also has the distinction of having all of its locations ISO 9001:2008 certified. (ISO 9001:2008 certified by Management Certification of North America, an ANAB-accredited certification body.)
Regards,
Bill Stankiewicz
Vice President & General Manager
Shippers Warehouse
Office: 678.364.3475
williams@shipperswarehouse.com
www.shipperswarehouse.com
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
The National Association of realtors share any insight that they may have about the economy, full of good statistics, and information pertinent to this economy.
No bubble trouble; stocks are still reasonably priced. This credit cycle has unique characteristics that continue to make high-yield bonds attractive. Interest-rate volatility poses greater risk than higher rates themselves.
LBS - Asset Allocation Model – February UpdateMark MacIsaac
Robust and synchronized upswing in global economic growth, still accelerating earnings growth, global consensus earnings projections continuing to improve and accommodative financial conditions all remained supportive of equities in January.
« Market Perspectives » est notre revue mensuelle des marchés. Elle présente de la façon la plus synthétique possible :
- notre analyse des principaux faits marquants et indicateurs macro susceptibles de dessiner les marchés sur le mois.
- notre vision sur les différentes classes d’actifs
Cette revue sera continument enrichie avec nos indicateurs quantitatifs.
La plupart de nos analyses sont disponibles sur www.finlightresearch.com
Our monthly publication “Market Perspectives” presents a synthetic view of all the asset classes we cover.
The report is composed of six sections covering Macro, Equities, FI & credit, FX, Commodities and Alternatives.
Each section is preceded by a summary of our views on the related asset class.
Most of our publications are available on our web site www.finlightresearch.com
Today’s Economic Landscape and What’s on the Other SideSavannah Whaley
SPG Trend Advisors is a boutique consultancy that provides global economic research for business and other decision makers. With fifty years combined experience between the principals, and through its website, SPG Trend Advisors provides insightful analysis and forecasting to prepare senior executives for tomorrows trends.
« Market Perspectives » est notre revue mensuelle des marchés. Elle présente de la façon la plus synthétique possible :
- notre analyse des principaux faits marquants et indicateurs macro susceptibles de dessiner les marchés sur le mois.
- notre vision sur les différentes classes d’actifs
Cette revue sera continument enrichie avec nos indicateurs quantitatifs.
La plupart de nos analyses sont disponibles sur www.finlightresearch.com
Our monthly publication “Market Perspectives” presents a synthetic view of all the asset classes we cover.
The report is composed of six sections covering Macro, Equities, FI & credit, FX, Commodities and Alternatives.
Each section is preceded by a summary of our views on the related asset class.
Most of our publications are available on our web site www.finlightresearch.com
« Market Perspectives » est notre revue mensuelle des marchés. Elle présente de la façon la plus synthétique possible :
- notre analyse des principaux faits marquants et indicateurs macro susceptibles de dessiner les marchés sur le mois.
- notre vision sur les différentes classes d’actifs
Cette revue sera continument enrichie avec nos indicateurs quantitatifs.
La plupart de nos analyses sont disponibles sur www.finlightresearch.com
Our monthly publication “Market Perspectives” presents a synthetic view of all the asset classes we cover.
The report is composed of six sections covering Macro, Equities, FI & credit, FX, Commodities and Alternatives.
Each section is preceded by a summary of our views on the related asset class.
Most of our publications are available on our web site www.finlightresearch.com
Monthly Market Perspective - June 2016David Berger
The drivers of short-term market moves can be vastly different from those which underpin the cycles of longer-term market direction. This month we examine a variety of these factors.
Following an impressive bounce back from February lows, the durability of the current bull market remains suspect. The benefits of the recent rally appear limited to the large cap, defensive sectors of the market. In prior market cycles, this has portended that the latter stages of a bull market are fast approaching and as such, caution is warranted.
A review of Q4 2015 corporate earnings reveals a significant slowdown in revenue and earnings growth. While these developments have been affected by the sharp decline in commodity prices,they may reveal early signs of recessionary conditions.
Attached please find our monthly market perspectives piece for September. In light of the recent market volatility, we outline alternative investments, in particular market neutral investments. Currently, our preference is to use market neutral strategies for portfolio defense. In today’s market conditions, particularly in fixed income, traditional asset allocation strategies comprised solely of stocks and bonds may be challenged to provide an adequate balance of investment risk and return.
This month we attempt to look past the recent “headlines” affecting international markets and analyze the facts. As you will note, despite the volatility, we believe international investing still makes sense for long term investors.
S&P 500 earnings in the first quarter were significantly impacted by negative performance in the energy sector. In our Market Perspective we examine Q1 earnings excluding energy and observe reasonably healthy results.
This month we analyze first quarter earnings and dig into the impact of oil prices. As we have suggested, markets ultimately trade on earnings, and this quarter the picture has been clouded by the rapid decline in the energy sector.
Our May Market Perspective identifies and discusses the potential weaknesses in several traditional "safe" sectors within the equity markets-healthcare and utilities.
We examine the impact of foreign exchange fluctuations. More specifically, we explore the dynamics of the strength of the US dollar vs. currencies around the world and the impact this has had on asset values. There are a variety of reasons for the recent dollar strength, which we examine in more detail in the slides that follow.
Following several years of relatively benign capital market volatility, it appears wider swings may finally be upon us. January produced multiple moves up and down in excess of 3%. Market Perspectives explores the meaning behind the volatility and how we may seek to take advantage of it.
As we look ahead to 2015, we review some of the themes we highlighted in 2014. While some of our strategies played out well last year, some are still developing. We expect our valuation discipline will continue to serve as a valuable guide in the new year and beyond.
Recently commodity prices have fallen to multi-year lows. Read our December Market Perspective to learn how these dramatic price movements may impact consumers, industries and companies.
Biegel Waller Investment Advisory Market Perspective David Berger
While the U.S. asset purchase program came to an end last month, we expect easy money policies around the globe to continue well into the future. We anticipate global leaders will remain focused on fighting deflationary forces with sufficient liquidity, which should help global asset prices.
Domestic small cap equities are trading at significantly elevated valuation levels. This month we highlight some of the key data points relating to this overvaluation.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
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What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
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how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
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Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
1. Market Perspective – February 2016
Experience Insight Impact
biegelwaller.com
Overview: 2016 is off to a very rocky start with most major indices around the globe suffering
large losses in January (and continuing into early February). The aggregate valuations of
bellwether industries (i.e. manufacturing on the downside and utilities on the upside) are
indicating recessionary conditions ahead. For example, consumer oriented industries are still
experiencing periods of growth. While opinions on the current state of the economy are sharply
divided, we believe research and due diligence are critical factors in assessing market conditions
over the longer term. This month we provide an element of our research process with highlights
from corporate CEO earnings transcripts. We believe this gives deeper insight into real “Main
Street” demand.
2. Market Performance in January
2
Over the month of January, global equity
markets saw declines which were rapid,
broad, and in some cases the worst on
record for the month of January. The S&P
500 fell by ‐5.07% and the EAFE, MSCI’s
international developed country Index,
dropped even further, by ‐7.28%.
Commodities, led by energy, continue to
face very difficult conditions due to
continued dramatic price declines.
The list of macroeconomic concerns is
growing and quickly being reflected into
stock valuations. The major issues include:
• Ineffective monetary policy
• Emerging market GDP concerns
• Energy prices and debt issuances, which
drove U.S. shale energy growth
• Signs of peaking profit margins
• Slowing velocity of Money
Experience Insight Impact
S&P 500 Index and MSCI EAFE Index January 2016 Performance
3. Cautious CEO Commentary – Manufacturing and Energy
3
Experience Insight Impact
• The nation’s largest energy pipeline company confirms energy prices are down, but production is still rising
“On a full‐year basis, 2015 to 2014, oil prices were down 49%, of course they're down further still from there. Gas
was down 40%... Combined oil production across all of our fields was up 2% compared to 2014. Net NGL sales
volumes were up 3% compared to 2014.” – Steven Kean, CEO, Kinder Morgan
• A large domestic railroad expects future freight volumes to weaken due to a strong dollar and low energy prices
“Looking forward, we expect volumes to decline in the first quarter. We expect the challenging freight
environment to continue as the headwinds associated with coal, low commodity prices and a strong U.S. dollar
more than offset the markets that will show growth.” –Frank Longero, CFO, CSX Corp.
• A leading manufacturing equipment company expects domestic and emerging market demand to be challenging
“Automation core revenues decreased at a high single‐digit rate due to weakening in industrial markets in China
and North America.” – Thomas Joyce, CEO, Danaher
On the cautious side, global economic conditions are weakening and manufacturing CEO’s believe we
are in an “industrial recession” caused by the strong dollar, emerging market weakness and energy
sector declines.
4. More Positive CEO Commentary – Consumer and Services
4
Experience Insight Impact
Despite what the stock market is indicating, we also find sectors continuing to realize positive trends.
Unlike the executives at industrial companies, consumer‐facing CEO’s are seeing strong demand.
Following are highlights from our research:
• The world’s largest credit card association continues to see more consumer dollars being spent
“We continue to see relatively strong payment volume growth.” – Charles Scharf, CEO, Visa
• Large domestic bank believes the demand for autos will continue to rise despite hovering close to prior peaks
“Auto vehicle sales were the best ever in 2015…If gas prices continue to remain low, 2016 should be another
strong year for the auto market.” – John Stumpf, CEO, Wells Fargo
• The largest domestic trucking company for consumer goods confirms U.S. consumer demand should stay strong
“I had a conversation yesterday with Bob Costello, the Chief Economist at American Trucking Association. He said
that roughly two‐thirds of the economy is consumer based, and that all data points are signaling that in 2016 the
consumer should be doing pretty well.” – Jerry Moyes, CEO, Swift Transport
• Conference call transcripts aggregator sees no claims of broad domestic recession
“C‐suite executives sound generally positive this quarter, despite growing turbulence in financial markets and
elevated levels of stress. While some mention “recession” and the likelihood of a downturn in economic activity, no
one has claimed that an outright contraction is imminent.” – Bloomberg, CEO, Orange Book
5. Industry Specific Trends We Are Seeing
5
Experience Insight Impact
• Large retailer sees declines in brick‐and‐mortar traffic, but is seeing strong growth in online sales
“On the one hand we experienced softer in‐store transaction counts, but on the other hand sales from our
customer‐facing digital channels demonstrated strong growth, in excess of 25%.” – Steven H. Temares, CEO, Bed
Bath & Beyond
• Casual dining company is eliminating its traditional market spend and opting for a entirely digital strategy
“We are moving away from a traditional television‐based marketing campaign. We are now focusing 100% of our
advertising stint on digital and social media.” – David Skena, CMO, Ruby Tuesday
• Airlines are experiencing massive earnings from both strong pricing and lower fuel costs
“Of course this was by far our best year of earnings in our entire history, and that includes a record return on
invested capital of 32.7%. We no doubt benefited from 29% lower economic jet fuel prices.” – Gary Kelly, CEO,
Southwest Airlines
• Airline profits are not being spent on growth, but rather returning it to shareholders through share repurchases
“We generated $3.8 billion of free cash flow and returned $2.6 billion of that back to our owners this year… I would
expect that given the performance we’re on pace to achieve that our share buyback number would be materially
higher in 2016 than it was in 2015.” – Richard Anderson, CEO, Delta Airlines
We are also seeing secular trends independent of the business cycle. Digital businesses are continuing
to take share from traditional industries. In addition, some older industries (i.e. airlines) are seeing
signs of improved business conditions relative to their history.
6. Conclusion: We remain generally cautious as opinions on the state of the economy are sharply
divided. Business conditions in 2016 have weakened, thus both investors and corporate
management teams are adjusting their expectations for both stock prices and corporate earnings.
While the magnitude of weakness is still to be determined, our approach to this period is to
protect client capital and maintain a rational long‐term outlook. We remain defensive as we
scrutinize economic data, await for signs of stabilization, and look for opportunistic situations
where we believe the market has overreacted.
Experience Insight Impact
Market Perspective – February 2016
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