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Today’s Business News: Sensex nosedives 1,688 pts amid global selloff, and more

4:19 P.M.

Sensex nosedives 1,688 pts amid global selloff

Sensex tumbled 1,688 points on Friday, tracking a massive selloff in global markets as concerns over a new COVID-19 variant unnerved investors across the world.

The 30-share index closed 1,687.94 points or 2.87{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} lower at 57,107.15. The NSE Nifty plunged 509.80 points or 2.91{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} to 17,026.45.

IndusInd Bank was the top loser in the Sensex pack, followed by Maruti, Tata Steel, NTPC, Bajaj Finance, HDFC and Titan. On the other hand, Dr Reddy’s and Nestle India were among the gainers.

4:16 P.M.

Rupee plunges by 37 paise against dollar on new COVID variant worries

The rupee on Friday plunged by 37 paise against the US dollar as investors turned cautious in view of massive selloffs in domestic equities and worries over a new variant of COVID-19.

The local unit settled at 74.89 a dollar, down 37 paise over its previous close of 74.52.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.34{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} down at 96.44.

3:26 P.M.

Gold rallies ₹570, silver climbs ₹190

Gold prices in the national capital rallied ₹570 to ₹47,155 per 10 grams on Friday in line with gains in metal prices in the global markets and a fall in the rupee against the US dollar, according to HDFC Securities. The precious metal had settled at ₹46,585 per 10 gram In the previous trade.

Silver also jumped ₹190 to ₹62,145 per kg from ₹61,955 per kg in the previous trade.

In the international market, gold was trading with gains at $1,808 per ounce and silver was flat at $23.70 per ounce.

3:21 P.M.

Bitcoin plunges as coronavirus variant sees riskier assets dumped

Bitcoin tumbled around 8{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} on Friday after the discovery of a new, potentially vaccine-resistant coronavirus variant saw investors dump riskier assets for the perceived safety of bonds, the yen and the dollar.

Bitcoin, the largest digital currency, fell as much as 7.8{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} to $54,377, its lowest since October 12.

The variant, detected in South Africa, Botswana and Hong Kong, has an unusual combination of mutations and may be able to evade immune responses or make it more transmissible.

2:57 P.M.

Bihar, Jharkhand, UP emerge as poorest states in India: Niti Aayog

Bihar, Jharkhand and Uttar Pradesh have emerged as the poorest states in India, according to Niti Aayog’s Multidimensional Poverty Index (MPI).

As per the index, 51.91{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} population of Bihar is poor, followed by 42.16{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} in Jharkhand, 37.79{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} in Uttar Pradesh.

Kerala at 0.71{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}, Goa at 3.76{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}, Sikkim at 3.82{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} have registered the lowest poverty across India and are at the bottom of the index.

2:51 P.M.

China Evergrande soccer stadium taken over by government

China Evergrande Group’s soccer stadium has been taken over by a government body with a view to selling it as the embattled developer seeks to cut liabilities.

Evergrande is struggling with a debt of more than $300 billion and is also planning to sell money-losing Guangzhou Football Club.

Construction of the $1.86 billion Guangzhou Evergrande Football Stadium began in April last year for completion by the end of 2022, when it was set to be the world’s largest soccer venue by capacity. However, construction halted due to lack of capital.

2:20 P.M.

Tata in talks to set up $300 mln semiconductor assembly unit

India’s Tata group is in talks with three states to invest up to $300 million to set up a semiconductor assembly and test unit, as part of the conglomerate’s push into high-tech manufacturing.

Tata is talking to the southern states of Tamil Nadu, Karnataka and Telangana and scouting for land for the semiconductor assembly and test plant.

2:13 P.M.

China asks Didi to delist from U.S. on data security fears

Chinese regulators have asked ride hailing giant Didi Global Inc to delist from the New York Stock Exchange citing concerns about data security.

China’s tech giants are under intense scrutiny over anti-monopolistic behavior and handling of their vast consumer data.

1:48 P.M.

Climate activists target Amazon depots in Britain on ‘Black Friday’

Climate activists targetted 15 Amazon depots across Britain on “Black Friday” as part of a protest against the e-commerce giant, which the Extinction Rebellion group said epitomised an obsessive overconsumption.

“Black Friday epitomises an obsession with overconsumption that is not consistent with a liveable planet,” the group said.

“Amazon and companies like it have capitalised on our desire for convenience and stoked rampant consumerism at the expense of the natural world.”

1:43 P.M.

Italy’s antitrust fines Google, Apple for commercial use of data

Italy’s antitrust regulator has fined Google and Apple $11.23 million each for “aggressive practices” linked to the commercial use of user data.

The two tech companies did not provide “clear and immediate information” on how they collect and use the data of their users, the authority said in statement.

1:38 P.M.

China issues draft rules to govern online advertising

China’s market regulator proposed new rules on Friday to monitor the internet advertising sector and ensure that advertisements should not affect users’ normal internet use nor mislead them.

The proposed rules are open to public comment till December 25, China’s State Administration for Market Regulation said on its website.

1:30 P.M.

Investors’ wealth tumble over ₹4.48 lakh cr as markets plunge

Investors’ wealth tumbled ₹4.48 lakh crore during day trade on Friday with the BSE benchmark plummeting 1,488 points to 57,307.08.

The market capitalization of BSE-listed tanked ₹4,48,223.31 crore to ₹2,61,18,730.57 crore during the day.

Tata Steel, HDFC, IndusInd Bank and Maruti were the biggest laggards, tanking up to 4.2{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} . The BSE midcap and smallcap indices were trading up to 2{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} lower.

1:25 P.M.

Govt can consider phased manufacturing plan for AC industry: Jain

The government is willing to look at extending a phased manufacturing plan (PMP) for the AC industry to check imports and increase local value addition and employment, Anurag Jain, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) said while responding to suggestions made by some of the CEOs present in a roundtable on November 25.

He also said that DPIIT will now ensure that all the investments coming up under the production-linked incentive (PLI) for white goods get approvals from the central and state government authorities on fast track basis so that targets set under the PLI are achieved timely.

12:45 P.M.

Gold gains as new COVID-19 variant lifts safe-haven demand

Gold prices rose as the spread of a newly identified coronavirus variant boosted the metal’s safe-haven appeal.

Spot gold rose 0.6{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} to $1,798.20 per ounce and U.S. gold futures advanced 0.8{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} to $1,798.30.

The variant spreading in South Africa may evade immune responses and has prompted Britain and a growing number of other countries to hurriedly introduce travel restrictions on the African nation.

12:20 P.M.

India needs national disaster pool to hedge natural disaster risks: SBI

As the incidents and severity of natural calamities are rising by the year, a SBI report has called for creating a national disaster pool to hedge natural disaster risk.

Since 2001, a total of 100 crore people have been impacted and nearly 83,000 lost lives due to these disasters. If the losses are adjusted with current prices, it comes out to be a staggering ₹13 lakh crore or 6{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of the GDP, State Bank of India (SBI) said in a note.

12:05 P.M.

Tega Industries sets IPO price band at ₹443-453/share

Tega Industries, manufacturer of consumables for the mining industry has fixed a price band of ₹443-453 a share for its ₹619-crore initial share-sale.

The three-day initial public offering (IPO) set to open on December 1 and conclude on December 3, is purely an offer of sale 1,36,69,478 equity shares by promoters and a existing shareholder.

Half of the issue size has been reserved for qualified institutional buyers (QIBs), 15{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} for non-institutional investors and 35{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} for retail investors.

11:30 A.M.

Energy Exchange shareholders approve bonus issue

The Indian Energy Exchange (IEX) has received shareholders’ approval for the issue of bonus shares and increase in authorised share capital. The board approved an issue of bonus shares wherein shareholders will get two bonus shares for every one share held by them.

The bonus shares will be issued to “eligible members of the company in the proportion of two new fully paid-up equity share of rupee one each for every one existing fully paid-up equity shares of rupee one each held by them, by capitalising a sum not exceeding ₹59,91,13,022 out of the company’s free reserves and capital redemption reserve as on March 31, 2021,” the company said in a filing.

11:10 A.M.

Tarsons Products shares list with nearly 6{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} gain

Shares of life sciences company Tarsons Products listed with a premium of nearly 6{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} against its issue price of ₹662.

The stock listed at ₹700, a 5.74{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} gain against the issue price on BSE and further jumped 22.05{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} to ₹808. On NSE, it listed with a premium of 3.02{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} at ₹682.

The ₹1,023.84-crore IPO initial public offer of Tarsons Products Limited received 77.49 times subscription earlier this month. It had a price range of ₹635-662 per share.

10:50 A.M.

Rupee slips to 74.68 against US dollar

The Indian rupee fell16 paise to 74.68 against the US dollar in opening trade on negative domestic equity market and a firm American dollar.

The rupee opened on a weak note at 74.60 and lost further ground to touch 74.68 against the American dollar. On Thursday, the rupee had closed at 74.52.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell by 0.05{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} to 96.72.

10:15 A.M.

Godrej to develop 1.5 million sq ft housing project in Bengaluru

Realty firm Godrej Properties has bought a 16-acre land parcel in Bengaluru to develop about 1.5 million square feet saleable area comprimising primarily residential properties as it looks to expand business in major cities.

While the company did not disclose the deal value or the name of the seller, it said the 16 acres land is located at micro-market of Sarjapur.

9:30 A.M.

Markets update | Sensex, Nifty open lower

Indian equity benchmark indices, Sensex and Nifty opened on a negative note amid weak Asian markets. At 9:16 IST, the Sensex was down 722.43 points or 1.23{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} at 58,072.66 and the Nifty was down 233.90 points or 1.28{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} at 17,312.40.

Asian stocks fell the most in two months as detection of a new and possibly vaccine-resistant coronavirus variant sent investors rushing towards safe havens.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}, and  Japan’s Nikkei plunged 2.5{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}. U.S. crude oil futures fell nearly 2{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} as well amid fresh demand fears.

Scientists said the variant, detected in South Africa, may be able to evade immune responses and according to the British authorities, it is the most significant variant to date which could even resist vaccines.

9:15 A.M.

Oil falls on concerns of rising surplus

Oil prices fell more than 1{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} on concerns that a global supply surplus could swell in the first quarter after a coordinated release of crude reserves by major consumers.  

Brent crude futures plunged 1.2{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} to $81.26 a barrel and U.S. West Texas Intermediate (WTI) crude was down 1.7{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}, to $77.04 a barrel.

The U.S.’s plan to release millions of barrels of oil from strategic reserves in coordination with other large consuming nations is likely to swell supplies in coming months, according to an OPEC source.

—-

Reliance Industries and Saudi Aramco have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of the Indian conglomerate on valuation concerns. The Asian Development Bank (ADB) has approved a $1.5 billion loan for the Indian government to purchase COVID-19 vaccines.

 

—-  Edited by John Xavier

 

(With inputs from Reuters, PTI and other news agencies.)

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Has Avis Budget Group (CAR) Outpaced Other Business Services Stocks This Year?

Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Avis Budget Group (CAR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let’s take a closer look at the stock’s year-to-date performance to find out.

Avis Budget Group is one of 278 companies in the Business Services group. The Business Services group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Avis Budget Group is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for CAR’s full-year earnings has moved 45{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, CAR has returned 738.2{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} so far this year. At the same time, Business Services stocks have lost an average of 24.5{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}. This means that Avis Budget Group is outperforming the sector as a whole this year.

Interpublic Group (IPG) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 46.6{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.

For Interpublic Group, the consensus EPS estimate for the current year has increased 6.3{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Avis Budget Group belongs to the Business – Services industry, a group that includes 29 individual companies and currently sits at #90 in the Zacks Industry Rank. On average, stocks in this group have gained 140.6{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} this year, meaning that CAR is performing better in terms of year-to-date returns.

In contrast, Interpublic Group falls under the Advertising and Marketing industry. Currently, this industry has 15 stocks and is ranked #176. Since the beginning of the year, the industry has moved +15.8{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.

Avis Budget Group and Interpublic Group could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.

Breakout Biotech Stocks with Triple-Digit Profit Potential

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Pandemic Survival Tips for Small Business Owners

The pandemic has stretched out longer than anyone anticipated and affected a significant number of small businesses nationwide. On average, at least 600,000 businesses close every year, but a recent study from the Federal Reserve reported approximately 130,000 more businesses had closed their doors for good last year than in previous years. The bulk of these were personal care services, such as beauty salons, barbershops, etc.

If you are a small business owner facing continued hardship these days, here are a few ways your business can survive the pandemic and move forward to a brighter future.

Employee “Fireside Chat”

Your employees need reassurance right now. They are afraid and anxious for themselves, their families and, of course, their source of income. The last thing these employees want is a business owner in panic mode. You, as the employer, certainly want some reassurance from them as well — that they will remain loyal and hardworking and keep the business moving strong.

If you have a premium Zoom account, there’s a lot to be said for camaraderie at this point. A weekly get-together on a virtual chat can do wonders for morale and help make your employees feel special. This is an excellent opportunity to get to know the people working for you a little better, talk about new ideas for the company, or highlight important events. While you could certainly treat it like a business meeting if you like, try to keep things light. These people want to know you have their backs, but they also want to know you care. Keeping your employees abreast of things and complimenting them in public to others are effective ways to keep them engaged in your business. Even having a spirited webcam contest, such as “best room design,” can help people feel less nervous and stressed and more hopeful that things will be alright.

Provide for the Future

One of the most important things a business should create is a plan. Whether you look two, five or even 10 years down the road, it is nice to have a blueprint for your business’ future. The pandemic has undoubtedly made it more critical than ever to have an emergency or contingency plan. Too many companies just didn’t plan for one and went under. Maybe your small business was not too severely affected by the loss of work or customers, and that’s great. But if you’re facing hardships now, there are still a few things you can do for future growth. First, create a flexible schedule for your employees and include optional hours for remote work. Second, provide on-site employees with full anti-viral and other safeguard protections. Finally, consider your materials list. Check to make sure materials or products you use are still abundant and stockpiled to avoid shortages. Little things like this will help your business stay more robust in the long run.

Maintain Your Social Media Profiles

Whether you tweet on Twitter or post on Facebook, your social media presence needs to be as strong as ever. With the pandemic still creating lockdowns, quarantines and closures of various facilities or offices, the way you present your business online becomes more important. Consider periodic entries that let your followers know things like a new product or service coming up. Maybe you can do a “check-in” to let them know how things are going, or pass along a hot tip or exciting story. It is vital to keep connected, not just with your customers but with your employees as well. The pandemic has limited how the whole world can meet and greet. With a vibrant online presence, your business can still reach its primary audience.

Keep Your Customers Close

During the pandemic, your instinct might be to take a break and not bother your customers too much, which is the worst thing you can do. You need to reach out more than ever before. Start with emailing your customer list and letting them know that business is still going, although slower. Alert them to some great discounts or sales you can offer, or maybe start a new company newsletter people can subscribe to. The human connection might be limited right now, but the way you connect on a one-to-one basis with your past and present customers makes all the difference. If you show your customers how much they matter to you, you can depend on them for future sales. Answer every email you receive promptly and personally if need be. You may get “unsubscribe” requests, and that’s fine. You want people who will support your business, and a subscription service is a great way to tell who will stick around for the long-term.

The pandemic is testing millions of small businesses around the world right now. The best way to stay successful is to have proper survival strategies in place to stay afloat during even the darkest times.

The best of luck to you all.

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Houlihan Lokey Continues Expansion of Its Global Business Services Group With Senior European Hires

James Ireland Joins as a Managing Director and Guy Mullin-Henderson as a Senior Advisor; James Sutch Joins as a Director

LONDON, November 23, 2021–(BUSINESS WIRE)–Houlihan Lokey (NYSE:HLI), the global investment bank, announced today several senior appointments to significantly build the firm’s global Business Services Group’s presence in Europe.

James Ireland joins Houlihan Lokey as a Managing Director and brings more than two decades of experience advising clients on both public and private M&A transactions as well as debt and equity capital raises in Europe. He joins from RBC Capital Markets, where he was Head of European Business Services. Prior to RBC, he worked within Citigroup’s Global Industrials Group, focusing on the services and construction sectors. He began his career with Coopers & Lybrand (now PwC) and is a qualified Chartered Accountant (ACA).

Guy Mullin-Henderson has joined Houlihan Lokey as a Senior Advisor to the Business Services Group in Europe. He has an investment banking career spanning more than 35 years, including 11 years as a Managing Director at RBC Capital Markets, where he successfully established the bank’s Business Services practice, and 11 years as a Managing Director at Rothschild, where he was Global Head of Business Services. Mr. Mullin-Henderson began his investment banking career at Baring Brothers in 1985.

James Sutch joins Houlihan Lokey as a Director with more than 15 years of experience across the business services sector. Mr. Sutch joins from RBC Capital Markets and previously worked in the Business Services teams at Rothschild and PwC Corporate Finance. He is a qualified Chartered Accountant (ACA).

The Business Services Group has been further strengthened with the addition of a team of 11 outstanding financial professionals through the firm’s recent acquisition of GCA Altium, headed by Managing Directors Oliver Vaughan in London and Axel Bauer in Munich, Directors Arthur Callaghan in London, Tom Battersby in Manchester, Sebastian Weindel in Munich, and Senior Vice President Timo Maier in Munich.

“We are delighted to welcome such an experienced and talented group to our global Business Services Group. Our success to date has been built on a combination of strong teamwork, unrivalled industry knowledge, and a fierce commitment to client service. As all of our new colleagues share these cultural attributes, we are confident that all will make huge contributions to the Group and our clients in Europe, working alongside Managing Director Jon Harrison,” said Larry DeAngelo, Global Head of Houlihan Lokey’s Business Services Group.

“At Houlihan Lokey, our Corporate Finance business is undergoing an unprecedented period of growth, adding further strength and depth to our global industry teams, and we believe it is that focus on sector excellence that sets us apart from the competition. Our Business Services Group has established itself as the leader in its field in the US, and our aim is to repeat that success in Europe. We are excited by the addition of this outstanding group of seasoned advisors to the firm,” commented Scott Adelson, Co-President of Houlihan Lokey.

With more than 90 industry-dedicated professionals across the firm’s global network, including now 25 in Europe, Houlihan Lokey’s Business Services Group provides superior service and achieves outstanding results for its clients in M&A advisory, capital raising, restructuring, and valuation. The Group has advised on more than 70 transactions over the past 12 months across every key global region.

About Houlihan Lokey

Houlihan Lokey (NYSE:HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, and valuation. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, the Middle East, and the Asia-Pacific region. Independent advice and intellectual rigor are hallmarks of the firm’s commitment to client success across its advisory services. Houlihan Lokey is the No. 1 M&A advisor for the past six consecutive years in the U.S., the No. 1 global restructuring advisor for the past seven consecutive years, and the No. 1 global M&A fairness opinion advisor over the past 20 years, all based on number of transactions and according to data provided by Refinitiv.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211123005630/en/

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Tips to Help Businesses Improve Marketing Beyond Small Business Saturday

NEW YORK, Nov. 23, 2021 /PRNewswire/ — iStock, a leading ecommerce platform providing premium visual content to SMBs, SMEs, creatives and students everywhere, today unveiled tips to help businesses enhance their marketing strategies and campaigns beyond Small Business Saturday, creating lasting connections with customers year-round.

According to Visual GPS, an iStock research initiative, 92{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of people say that small businesses are necessary for the health of the economy. Even with the convenience and ease of buying from big box or chain stores, almost half of people (46{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}) will go out of their way to support local and small businesses. In fact, almost 8 out of 10 people (79{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}) said they would rather buy from local and small businesses as a way of supporting their community.

To find more local and small business-inspired visuals, visit https://www.istockphoto.com.

“It’s evident that small businesses are essential to people’s everyday lives, especially as we head into the holiday season with consumer spending power at its highest during Black Friday, Small Business Saturday, Cyber Monday and Giving Tuesday,” said Yara Ohashi, Head of Digital Marketing for the Americas, iStock. “Our Visual GPS research shows that people want to, and will, support local and small businesses. This is an opportunity for businesses to engage with these customers in an authentic, relatable way through the visuals they choose in their marketing and communications year-round.”

Below, iStock reveals a few actionable tips to help businesses of all sizes connect with customers more effectively and authentically during Small Business Saturday and beyond:

Be Relatable: Authentic representation is key, including how people’s different cultures and lifestyles are depicted within your marketing. Having insight into the customers you’re trying to reach and using visuals which appeal specifically to that audience can make all the difference. People now expect more accurate representation of themselves and the world they see around them from the companies and businesses they interact with. This shift in consumer behavior is greatly impacting ROIs, with iStock research showing that 74{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of men and 67{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of women would prefer to buy from brands representing authentic people like themselves.

Use Video, Video and More Video!: As a way to further engage customers during this time, video has become key to integrating into businesses of all sizes’ marketing strategies. In fact, video is a strong influence for people shopping local, with almost a third saying it’s how they select small businesses to shop or do business with. To create professional-quality videos that are affordable and simple to make, iStock created has created a new free, quick and easy video maker that doesn’t require any previous design or editing experience. The iStock Video Editor can help any small business or entrepreneur bring their visual storytelling to life—whether that’s for announcing a sale, promoting an event, or adding stories to Facebook or Instagram.

Demonstrate Sustainable Practices: According to iStock research, as a way to show support and commitment to protecting the planet and creating a sustainable environment, almost a quarter of people (21{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}) are shopping smaller, local companies and brands over global ones. Show how your business and services can support them in their mission by using visuals in your marketing which show the small steps they can take – whether that be showing reusable items, sustainable travel (bikes or e-scooters) or the repair and reuse of clothing and other items.

Embrace Technology and Connection: The use of technology in our everyday lives has only accelerated due to the pandemic, especially when it comes to online shopping. iStock’s Visual GPS research says that 60{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of people feel empowered by all the technology available to them, with over half (63{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}) saying they use mobile phones more now as a way to transact and pay for things than ever before. This is an opportunity for local and small businesses take a hybrid approach to how they visualize shopping local now and into 2022. Using visual content—imagery, video and illustration—that tailors to a variety of customers, whether they want to shop in-store or online, is important in illustrating our current realities and appealing to a broader range of customers during this time.

SOURCE press.gettyimages.com

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ArcelorMittal partners with Orange Business Services and Ericsson to launch the largest industrial 5G network in France: 5G Steel

ArcelorMittal France, Orange Business Services and Ericsson today announced the launch of 5G Steel to test 4G/5G connectivity at ArcelorMittal’s industrial sites in France over the next three years. The French government supports this initiative as part of the France Recovery plan. The Grand Port Maritime de Dunkerque, EasyMile and the Caisse des Dépôts are also among the project partners.

Orange Business Services, Ericsson and ArcelorMittal France have developed this project together, including the design of industrial use cases adapted to ArcelorMittal’s challenges and business requirements. The project is based on Ericsson’s technology leadership within 4G/5G private cellular networks suited for advanced industrial use cases and high-risk sites and Orange Business Services’ integration and support expertise.

This deployment will meet the needs for industrial network performance and connected workers and operations in a production environment on complex industrial sites. The benefits include better energy efficiency and worker safety.

The 5G private network provides:

  • Extensive coverage: to cover all of ArcelorMittal’s complex industrial sites, both outdoors and indoors. Workers and machine operators can move freely with reliable connectivity anywhere on-site.
  • High throughput: to meet the high-performance requirements of modelled processes, connected devices, production data, etc.
  • Low latency: to support the deployment of autonomous vehicles and remote-controlled machinery as well as security in high-risk areas.
  • Network slicing: to tailor services to each business process and needs.
  • Data security: to protect sensitive industrial data on-site.

5G Steel will enable ArcelorMittal’s plants, starting with Dunkirk, followed by Mardyck in Hauts-de-France and Florange in the Grand Est area, to deploy use cases requiring high-speed cellular connectivity.

Targeted to different business operations (production, maintenance, logistics, etc.), these industrial use cases include better worker flexibility and mobility in different situations. In addition, autonomous rail vehicles in Dunkirk and Florange, autonomous road vehicles, remote maintenance with feedback from the field, virtual or augmented reality and safety devices are also relevant use cases.

The objective is also to enable the digital transformation of the French value chain ecosystem for industrial use cases. From the outset, 5G Steel will cover the Grand Port Maritime de Dunkerque and ArcelorMittal’s Digital Labs in Dunkerque and Florange, and tests are being conducted to extend the network to the Hauts-de-France and Grand Est regions.

David Glijer, Director of Digital Transformation at Arcelor Mittal France, commented: “ArcelorMittal is firmly committed to its digital transformation and is positioning itself as a leader in the digitalization of the steel industry. In production, maintenance, logistics and development, digital technologies have already begun to transform our processes, increase the reliability of our operations and improve the comfort and safety of our teams. The opening of our two Digital Labs in Dunkirk and soon in Florange is another illustration of ArcelorMittal’s desire to create an ecosystem at the crossroads of industry and digital.”

Valérie Cussac, Executive Vice President, Smart Mobility Services, Orange Business Services, said: “We are delighted to support ArcelorMittal in its digital transformation project. Within the framework of 5G Steel, we have worked with a use case approach. The project is co-piloted with ArcelorMittal using an agile method based on the collective intelligence of technical and functional experts. In addition, thanks to our dual expertise as an operator-integrator, ArcelorMittal will benefit from this solid private network , allowing maximum and secure critical data performance and improved productivity.”

Franck Bouétard, Head of Ericsson, France, said: “With 5G Steel, Ericsson is pleased to support ArcelorMittal in testing new industrial use cases based on 4G/5G cellular technologies. Ericsson once again demonstrates our expertise and technological leadership with private networks in a complex industrial environment.”

5G Steel, a network that enables new industrial use cases

With 5G Steel, ArcelorMittal will develop key industrial projects. Two examples:

  • Remote maintenance: equipped with tablets, maintenance teams can support operations and access the necessary documentation. Once the maintenance operation has been carried out, they validate it and record it directly in the company’s information systems. With augmented reality, the teams can also access documents, images or call on an expert remotely and live.
  • Autonomous vehicles: transport by rail is essential at ArcelorMittal’s large sites. The Dunkirk site, for example, has 44 kilometers of track to transport products between the various manufacturing stages. With EasyMile, ArcelorMittal will launch the first autonomous train on an internal private network, which will be put into service in 2023. ArcelorMittal is also working on a heavy-duty road vehicle capable of transporting up to 120 tons of steel coils.