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People shop in a grocery store in Manhattan, New York City, U.S., March 28, 2022. REUTERS/Andrew Kelly WASHINGTON, Jan 18 (Reuters) – U.S. business inventories increased in November as higher interest rates depressed sales, boosting the inventory-to-sales ratio to the highest level in nearly two years. Business inventories rose 0.4% after gaining 0.2% in October, the Commerce Department said on Wednesday. Inventories are a key component of gross domestic product. November’s increase in inventories was in line with economists’ expectations. Inventories increased 15.1% on a year-on-year basis in November. The pace of inventory accumulation has slowed considerably from the robust pace in late 2021 and early 2022 because of improved supply, and ebbing demand for goods as the Federal Reserve aggressively raises interest rates to quell inflation. Retail inventories rebounded 0.1% in November as estimated in an advance report published last month. They fell 0.4% in October. Improved supply as well as a shift in spending back to services have added to excess merchandise at retailers, forcing some to offer price discounts and hold back on placing more orders until they have cleared the unwanted stock. Motor vehicle inventories accelerated 1.1%, instead of 1.2% as estimated last month. They […]

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CrowdStrike Holdings ( CRWD ) can buck Microsoft ‘s ( MSFT ) push into the cybersecurity market, says an analyst who initiated coverage of CRWD stock with an outperform rating. CrowdStrike stock moved higher on Wednesday and ventured closer to being in the black for 2023. "We believe that CrowdStrike offers best-in-class endpoint security capabilities and an expanding platform that will help CrowdStrike compete against Microsoft and other vendors," BMO Capital Markets analyst Keith Bachman said in a note to clients Tuesday. Meanwhile, Microsoft is leveraging its cloud computing unit as well as selling multiple cybersecurity products to companies in discounted deals. Also, Microsoft on Wednesday said it would lay off 10,000 workers in the latest round of tech companies downsizing. CrowdStrike Chief Executive George Kurtz , in a recent interview with IBD, talked about the evolving cybersecurity market. Kurtz addressed the Microsoft threat. "There’s a lot of competition in the cybersecurity space, whether it’s from Microsoft or others. And I think what customers are focused on is getting the best outcome for the best bang for the buck," Kurtz said. "We empirically can show that when we think about Microsoft, they are busy with other things like their […]

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Press Releases (HARTFORD, CT) – Governor Ned Lamont today held a news conference in Hartford to announce his first legislative proposal of 2023, which includes restoring Connecticut’s pass-through entity tax credit to its original, revenue-neutral level of 93.01% and enabling small business owners in the state to save money by claiming a larger credit on their personal returns. The recommendation will be included as a component of the governor’s fiscal years 2024 and 2025 budget proposal, which he will present to the Connecticut General Assembly in February. “These changes we are proposing will help small businesses in Connecticut save money, which they can use to reinvest back into their establishments to support their continued growth and the development of new jobs,” Governor Lamont said . “By making this change, we can provide confidence to businesses that they can receive the full benefit of this tax credit.” Connecticut’s pass-through entity tax credit is a mechanism for business owners to avoid the state tax deduction limitation imposed on them during the administration of former President Donald Trump. For federal tax purposes, state business taxes are fully deductible, while deductions for state personal income taxes are limited to $10,000. To avoid this […]

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iStock via Getty Images Dive Brief: Potential cyber incidents and business interruption remained the two leading worldwide corporate risk concerns for the second year in a row, according to a report published Tuesday by Allianz Group’s corporate insurance unit, Allianz Global Corporate & Specialty. Both cyber and business interruptions were the top concerns among 34% of respondents in the annual Allianz Risk Barometer. The study measured the responses of 2,712 risk management experts in 94 countries and territories, including CEOs, risk managers, brokers and other insurance experts. Respondents were concerned about a range of potential incidents, from ransomware to data breaches and IT outages. The report noted ransomware remains a frequent threat and cited IBM data showing the average cost of a data breach hit a record of $4.35 million, with the cost expected to surpass $5 million this year. Dive Insight: The report shows cybersecurity risk has been elevated to the most senior levels of corporations around the world. The potential threat of ransomware and data breaches has gained the attention of worldwide corporations. Companies confront the potential loss of control over customer data or proprietary customer secrets, and the impact of an attack on their brand reputation. […]

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FotoMaximum/iStock via Getty Images Quick Investment Take When I look at Chubb (NYSE: CB ), I see a multitude of reasons on why it could be a great investment. In pursuit of flashy growth it’s easy for investors to forget the point of investing and the primary goal of any business. The primary goal of any business is to increase the value for shareholders and for some time now, I see this reflected more in Chubb than a lot of other stocks. What factors allow Chubb to achieve this? Diversified Business Strong Financial Performance Strong position (Market and Profitability) In my write-up I will expand on each of these factors and also offer insight into how it can provide less correlated returns against the index which is important if you have a concentrated market exposure. Diversified Business Model Chubb is a global insurance company (world’s largest publicly traded P&C insurance) that provides a wide range of insurance products and services to individuals, families, and businesses around the world. For individuals and families, their wide array of products cover Home, Auto, Valuables, Boats & Yachts, Cyber, Liability, Travel, Natural Disasters and bespoke services. Under Business Insurance, they cover a broad […]

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WARSAW, Jan 18 (Reuters) – Small and medium sized Polish companies will pay over 19% less for gas from Wednesday, as wholesaler PGNiG Obrot Detaliczny cut prices for businesses. The move by the unit of Polish refiner PKN Orlen (PKN.WA) comes as mild winter weather and high gas inventories push gas prices in Europe down to levels last seen before Russia’s invasion of Ukraine. Customers settling their bills on the basis of PGNiG’s ‘Gas for Business’ offer will now pay 150 zlotys ($35) less per megawatt hour (MWh), the company said. The current price range for businesses is 761-793 zlotys per MWh. Customers will not have to take any action for the discount to be applied, and it will remain in place till the end of March, the supplier said. "PGNiG Obrot Detaliczny is monitoring the situation on the European markets," chief executive Henryk Mucha said in a statement. "We are contracting gas with a long-term perspective, so a short term decline in market prices can’t be always channelled to price cuts for clients." ($1 = 4.3362 zlotys)

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Mercedes-Benz selects Wolfspeed’s silicon carbide devices to power future EVs 00:00 00:0004:52GO LIVE Facebook Twitter Email Embed SpeedNormal Autoplay Wyoming legislators are pushing a bill in Cheyenne that could phase out electric vehicles by 2035, to protect a state economy largely fueled by gas and oil. Titled, "Phasing out new electric vehicle sales by 2035," the bill is sponsored by state Republican senator Jim Anderson and supported by senators Brian Boner, Ed Cooper and Dan Dockstader, as well as state House Representatives Donald Burkhart and Bill Henderson, also Republicans. FILE: Electric cars are parked at a charging station in Sacramento, Calif., Wednesday, April 13, 2022. Legislators say oil and gas production has "long been one of Wyoming’s proud and valued industries," which has created countless jobs and contributed to the state’s economy. The bill stresses the importance of gas-powered vehicles as they enable industries and businesses in the state to engage in commerce and the transportation of goods and resources. Legislators are concerned that infrastructure is not in place to support President Biden’s ambitious goal to phase out gas vehicles and have half of all new vehicles sold in 2030 to be zero-emissions vehicles. A Tesla Model X vehicle […]

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kosmos111 Co-produced with Williams Equity Research On January 6, 2023, Newtek (NASDAQ: NEWT ) announced it had completed its acquisition of National Bank of New York City. The latter, a nationwide financial institution, is 59 years old. Asset manager Newtek, meanwhile, only took off at the turn of the century. 1998, to be precise. Perhaps that relative "new kid on the block" status is why it took so long for the deal to close. The two entities first announced their intentions on August 2, 2021, more than five quarters ago. They were waiting to receive approval from the Office of Comptroller of Currency (OCC). Some More Facts and Figures to Know About Newtek I interviewed CEO, President, and founder Barry Sloan on January 12 . It was a great conversation, including his assertion that the company is set to expand significantly from here. He also had this descriptive commentary I’ll share: "… historically, as a non-bank, we were the largest non-bank SBA 7(A) lender in the United States. We also did other types of loans that were always business loans… what we’ve learned from being an SBA lender for 20 years [is] we always take personal guarantees and everybody […]

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Founder and Chief Servant Officer of CEO Experience , producing the monthly CEO Executive Guide designed for CEOs. getty Marketing success can often be difficult and hard to understand. Successful business marketing can often be elusive, but every leader knows that good marketing is essential for continual business growth and expansion. Although there are more means to marketing than any one methodology, a good understanding of the sales process can be an excellent place to begin to see more results from your sales efforts. I believe that a key to great selling is to have a simple selling process that everyone can follow. One principle to follow is to never leave a customer interaction without clearly identifying the next step. I have developed this proven five-step selling process that you can implement in your business to find success. Keep moving the potential customer through each step and you may find yourself with more sales success than before. Step 1: Acquire New Customer Contacts Contacts can be defined by new potential clients. Contacts are those potential buyers who have become aware of your product or service for the first time. This can be first-time visitors to a location or even […]

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Apple’s online business-to-business store has gone down as rumors swirl about a new product announcement from the company later today via press release. Apple’s main consumer-facing online store remains functional as of writing. Based on a rumor that Apple has a product announcement planned for today , and the discovery of an unreleased MacBook Pro in a Canadian regulatory database yesterday, new 14-inch and 16-inch MacBook Pro models with M2 Pro and M2 Max chips might finally be imminent. An updated Mac mini with M2 chips has also long been rumored. Apple’s exact announcement(s) if any remains to be seen, and topic might end up being something unrelated to new Macs. In addition to M2 Pro and M2 Max chips, the new MacBook Pros are rumored to feature Wi-Fi 6E and faster RAM , but no other major changes are expected. Apple completely redesigned the 14-inch and 16-inch MacBook Pro in October 2021, and it’s common for the same design to be used for multiple generations, so only a spec bump is expected. We’ll have full coverage of Apple’s announcement(s) today if any, so keep checking back for the latest coverage throughout the day.

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