Photo: ©JETCITYIMAGE – STOCK.ADOBE.COM CHICAGO — Key strategic accomplishments across the business, particularly the company’s progress on productivity and innovation objectives, lifted fiscal 2022 earnings and revenues at ADM, said company executives. Net income at ADM in the year ended Dec. 31, 2022, totaled $4.34 billion, equal to $7.71 per share on the common stock, up 60% from $2.71 billion, or $4.79 per share, in fiscal 2021. In the fourth quarter, earnings totaled $1.02 billion, or $1.84 per share, up 30% from $782 million, or $1.38 per share, in the same period a year ago. Revenues in fiscal 2022 increased 19% to $101.85 billion from $85.25 billion. The year-over-year increase was driven by a strong fourth quarter in which sales climbed 14% to $26.23 billion from $23.09 billion a year ago. “When I examine 2022, our ability to drive structural growth in earnings and improvement in ROIC was supported by key strategic accomplishments across the enterprise, particularly the progress we made on our productivity and innovation objectives,” Juan Luciano, president and chief executive officer, said during a Jan. 26 conference call with analysts. “Our productivity work in 2022 included enhancing our operational resilience, including through stabilizing our plant operations […]

Click here to view original web page at www.foodbusinessnews.net

As a cofounder at Innowise Group with 20-year experience in IT, Pavel loves helping businesses grow through data analytics . getty Data analytics has become a common thing for both large-scale corporations and local businesses that want to succeed at designing and promoting their products. It can help perform the magic of defining the needs and wishes of a target audience, show the path to optimized production and distribution and much more. When used incorrectly, though, data analytics can lead to poor decision making based on wrong assumptions. Data analytics is a powerful tool, but there are several major mistakes businesses can make while using it that can lead to severe failures instead of overwhelming success. Here are nine things to watch out for while making data-based decisions. 1. Refusing To Create Data Lakes Data lakes are the type of storage used for keeping raw, totally unprocessed data. Keeping such information allows businesses to build precise and retrospective predictive models based on historical data. It also enables the use of the original data with new processing and analytical tools. Without raw data stored, businesses have to rely on third-party data brokers that may share unsuitable data or the needed […]

Click here to view original web page at www.forbes.com

Effective January 1, 2023, Veteran-Owned Small Business Concerns (VOSBs) and Service-Disabled Veteran-Owned Small Business Concerns (SDVOSBs) will be required to obtain Small Business Administration (SBA) certification to participate in any federal government agency VOSB or SDVOSB sole source or set-aside prime contracts. This change originated from a Final Rule (87 FR 73400) published by the SBA on November 29, 2022. As a result of this Final Rule, not only will VOSBs and SDVOSBs be required to re-visit, and in some cases re-apply for various certifications, but these new regulations will also impact joint ventures that rely on their member’s VOSB or SDVOSB status to bid public work. New Regulation Previously, a VOSB and SDVOSB could self-certify to perform set-aside and sole source projects on non-U.S. Department of Veteran Affairs (VA) procurements—a VOSB and SDVOSB only needed to be certified by the VA Center for Verification and Evaluation (CVE) when bidding on VA procurements contingent on its status. As of January 1, 2023, the requirement that VOSBs and SDVOSBs be certified will extend to all federal prime contracts, regardless of the overseeing agency. The Final Rule implements the 2021 National Defense Authorization Act (NDAA 2021), changing the certification process for […]

Click here to view original web page at www.mondaq.com

When we have something to tell someone, invariably our first instinct is to reach for our mobile phone. Not to call – but to make contact in written form. An SMS, an email, a WhatsApp, a social media post. Everyone has their favourite and, in today’s ‘always-on’ omnichannel world, enterprises and brands for whom frictionless communication with customers is key must make every channel accessible. Smooth, slick interaction enhances the customer experience, deepens brand loyalty, and enables customer service representatives to deliver the best possible 24/7 support. Here, Sandro Stupar, Director of Product at leading provider of global omnichannel communications solutions Mitto – whose direct and wholesale offerings help do just that – details the top five benefits of business messaging… 1. Return on Investment According to our recent ‘State of the Customer Experience’ report, customer demand for digital communications are rising. Brands that take an omnichannel business messaging approach will meet these expectations while simultaneously driving revenue. Our report showed that brands that implemented unified omnichannel strategies were four times more likely to report extremely loyal customers, three times more likely to report a customer experience that deserves an “A”, and three times more likely to report a […]

Click here to view original web page at www.uctoday.com

Tsim Sha Tsui, Hong Kong–(Newsfile Corp. – January 27, 2023) – Hong Kong based Raja Fashions has announced the launch of a new range of suits for men that offer a modern take on classic tailoring. Catering to the more relaxed work environment in the post-pandemic era, these suits offer the perfect blend of casual and relaxed tailoring. Raja Fashions is a family-run tailoring business in Hong Kong that has built a reputation for its range of bespoke men’s formalwear. Prashant Daswani, the company’s Director of Business Operations, representing the third generation of the family business, goes to great lengths to ensure that he is building on his grandfather’s and father’s reputation for fine craftsmanship. He is also steering the firm into the modern era with the development of new products and forays into e-commerce and social media marketing. Prashant played a key role in the design of this new range comprising hooded blazers and athleisure suits that caters to the requirements of upwardly mobile professionals belonging to his generation. Prashant said, "The pandemic marked the advent of the virtual and hybrid work culture. Even the most conservative companies like banks and investment firms have stopped expecting their employees […]

Click here to view original web page at finance.yahoo.com

The luxury retailer has unveiled a new men’s shopping destination in New York City and launched its first-ever men’s brand ambassador program, The Saks Man NEW YORK, Jan. 27, 2023 /PRNewswire/ — Saks has unveiled a new men’s shopping experience on the seventh floor of the iconic Saks Fifth Avenue New York flagship and expanded its menswear assortment online as part of the luxury retailer’s ongoing commitment to its men’s business. The 40,000-square-foot advanced designer and contemporary ready-to-wear department offers more than 70 brands – 23 of which are new to the store – and features shop-in-shops by key men’s brands including CELINE, Dior Men, Gucci, Louis Vuitton, and more. Continue Reading The new Men’s Seventh Floor at Saks Fifth Avenue New York James Harden at The Saks Man celebratory cocktail party on January 26. "Our men’s business has experienced significant growth over the past several years, and Saks continues to be the destination that shoppers look to for the latest in men’s luxury fashion," said Tracy Margolies, Chief Merchandising Officer at Saks. "While we remain focused on expanding our online offering and creating an unparalleled assortment of men’s fashion and accessories on Saks.com, our stores remain a crucial […]

Click here to view original web page at www.prnewswire.com

New York CNN — Newly unsealed bankruptcy documents revealed thousands of creditors to whom FTX owes money after the once-mighty crypto exchange collapsed in November. Wall Street heavyweights including Goldman Sachs and JPMorgan were named in the creditor list, which includes businesses, charities, individuals and other entities in a 116-page document filed late Wednesday. FTX is now at the center of a massive fraud investigation. Also included in the creditors list are media companies, such as the New York Times and Wall Street Journal, commercial airliners, including American, United, Southwest and Spirit, as well as several Big Tech players, including Netflix, Apple and Meta. In a statement, Goldman Sachs said that it has not filed a claim against FTX. “This type of creditor matrix is prepared by the debtors for the purpose of providing notice to interested parties in a bankruptcy proceeding and is not necessarily evidence of a creditor relationship,” a spokesperson for the bank said. The document doesn’t disclose the amount or nature of the debt, and names of individual creditors — mostly customers who deposited funds on FTX — remain redacted at FTX’s request. Inclusion on the creditor list doesn’t necessarily mean the parties had an […]

Click here to view original web page at www.cnn.com

CHICAGO (CBS)– Flames engulfed a catering business on the Southwest Side near Midway Airport overnight. Heavy smoke and flames were shooting through the roof of a two-floor catering business, Georgis Catering, on Central Avenue just a block north of 65th Street. The building was severely damaged; no one was injured. Georgis Catering is a family-owned business that was started in the 19’40s. Georgis Catering provides 2,000 meals every day to seniors through Catholic Charities and other senior centers in the surrounding suburbs. A longtime employee told CBS 2 that 17 centers that rely on their meals have been impacted by the fire. "We do whatever we can for whoever. " said the employee, Becky. "Our world just went up in flames." She said the owner was already saying this morning that he hopes they can get into a nearby building quick to keep the business running and provide meals. Georgis Catering also provides meals for private planes leaving from Midway Airport. An overnight fire tore through a catering business on Central just SW of Midway. Spoke to an employee who says they provide 2,000 meals a day to seniors in surrounding suburbs through Catholic Charities and other senior centers. […]

Click here to view original web page at www.cbsnews.com

Source: Shutterstock While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. By way of learning-by-doing, we’ll look at ROE to gain a better understanding of International Business Machines Corporation ( NYSE:IBM ). Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In short, ROE shows the profit each dollar generates with respect to its shareholder investments. How Is ROE Calculated? Return on equity can be calculated by using the formula: Return on Equity = Net Profit (from continuing operations) ÷ Shareholders’ Equity So, based on the above formula, the ROE for International Business Machines is: 8.1% = US$1.8b ÷ US$22b (Based on the trailing twelve months to December 2022). The ‘return’ is the amount earned after tax over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.08 in profit. Does International Business Machines Have A Good ROE? One simple way to determine if […]

Click here to view original web page at simplywall.st

Tesla’s energy storage business is booming with a record year, but it’s just the beginning as we could see volume hit new records quickly. With the release of its Q4 2022 financial results , the automaker released its energy division’s deployment number. Tesla Solar had a good quarter with 100 MW deployed, but the company really shined with its energy storage deployment: Powerwalls and Megapacks. Tesla confirmed that it deployed a record 2.4 GWh of energy storage in Q4. That’s up 152% year-over-year and 300 MW more than the previous quarter, which was also a massive record. It brought Tesla’s total deployment for the whole year to an impressive 6.5 GWn – up 64% versus 2021. Tesla wrote about its energy storage business in its Q4 shareholder’s letter: Energy storage deployments increased by 152% YoY in Q4 to 2.5 GWh, for a total deployment of 6.5 GWh in 2022, by far the highest level of deployments we have achieved. Demand for our storage products remains in excess of our ability to supply. We are in the process of ramping production at our dedicated 40 GWh Megapack factory in Lathrop, California to address the growing demand. This factory should help […]

Click here to view original web page at electrek.co