December 4, 2020

Business News

PARIS — Shoppers searching Google for cosmetics will be able to try them on virtually through a deal with L’Oreal, as the French group looks to make up for lost store sales caused by coronavirus lockdowns by expanding online.

Maybelline maker L’Oreal, which returned to comparable sales growth in the third quarter when coronavirus restrictions eased, has sped up some of its web initiatives as a result of the pandemic, its digital chief Lubomira Rochet said.

“There’s been an acceleration in all our partnerships due to COVID-19,” Ms. Rochet said in an online presentation on Thursday.

The Google partnership relies on technology designed by ModiFace, a Canadian augmented reality specialist acquired by L’Oreal in 2018, and will also extend to the US group’s YouTube video sharing platform, Ms. Rochet said.

People seeking lipsticks or eye shadows by L’Oreal brands, which include Lancome and Urban Decay, who come across their adverts Read the rest

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Netflix has offered to buy ‘James Bond: No Time to Die’ in a move that will raise further concerns for the recovery of UK cinemas post pandemic.

Delayed three times, the official release date of the 25th Bond film, which will be the last of the Daniel Craig era, is currently set for April 2nd, 2021, however, MGM are now looking to sell the movie to a streaming service and Netflix have tabled an offer in partnership with Apple TV+.

If successful it is expected that Netflix and Apple TV will add the Bond movie to its catalog in 2021.

Bloomberg first revealed that Netflix and Apple TV+ had made a bid for a 12-month license ranging from $350 million to $400 million. This was well short of the $650 million to $700 million the studio wanted. Also, one source said that MGM was trying to make such a contract … Read the rest

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(Bloomberg) — U.S. stock index futures slipped as investors monitored a tight race to determine who will be the next American president.December contracts on the S&P 500 fell 0.6% at 1:25 p.m. in Tokyo. Futures declined 0.4% on the Dow Jones Industrial Average and slid 1% on the Nasdaq 100 Index. Democrat Joe Biden strengthened his hold on the race for the White House, steadily chipping away at Donald Trump’s early lead in a pair of crucial swing states. Trump questioned the credibility of the election.“We had President Donald Trump speaking this morning, bringing back some reminders of the political uncertainty that remains for the U.S.,” said Jingyi Pan, a strategist at IG Asia Pte. “Prices had also been charging strongly and look to be taking a breather ahead of resistance.”Two Republican candidates for Congress in Nevada sued the state’s top election official claiming more than 3,000 votes had been … Read the rest

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T-Mobile will offer nearly nationwide coverage on its super-fast 5G network by the end of 2021, company executives said on Thursday, a move that could pressure rivals Verizon and AT&T to keep pace.

At the end of next year, the network will blanket an area where 200 million people live, the company promised. Previously, it had said that its network, which is currently available to 30 million people, would expand to a potential market of 100 million people by the end of 2020.

The planned growth in coverage is partly a result of T-Mobile acquiring Sprint earlier this year. It gave T-Mobile more airwaves that could provide higher 5G speeds.

“We’re off to the races and came out of the blocks super quick,” Neville Ray, T-Mobile’s president … Read the rest

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Meet Amrit Walia, Senior Vice President, and Regional Managing Director of Wells Fargo Private Bank, who believes in living life to the fullest, facing each day with courage and purpose and doing her best to help others and improve the world around her. “I have been blessed with a wonderful family and diverse and culturally rich upbringing. Throughout my life, I have been surrounded by strong and inspiring people and provided with opportunities to learn and grow as a person,” says Amrit. She considers herself lucky or perhaps better defined as blessed.

She is inspired by a quote of Blaze Olamiday “Success in life is by opportunity and preparation, instead of sitting around waiting for luck, get up and go find your luck.”

“Building meaningful connections with your team and clients, move forward with clear purpose and strive to make a positive and lasting impact on people’s

Read the rest ...

Beyond jobs lost and economic output curtailed, whoever wins the US presidential election will face a list of long-term headwinds including deepening inequality, rising federal debt, and tattered international trade relations. Photo via Alex Proimos / CC BY 2.0 

It’s still not clear yet if the next US president will be incumbent Donald J. Trump or Democratic challenger Joseph R. Biden, but whoever triumphs will face monumental challenges on the economic front.

The recession has been ugly. It has wiped away more than a year of economic output and more than five years of jobs growth.

The workforce is now smaller than it was a year before Mr. Trump first took office.

One bright spot—consumer spending—is stronger than it was right after the pandemic exploded in March, but still only back to where it was last June.

Housing prices are on the rise, which is a great thing for US Read the rest

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Lloyds Banking Group is to cut 1,070 jobs under a plan to simplify structures in some back office operations.

The bank said that the shake-up would affect its group transformation and retail bank teams and result in 730 net jobs lost because the plans would also see 340 new roles created.

It marked the latest move by Lloyds to cut costs as profitability is squeezed by record low interest rates in the coronavirus-ravaged economy.

The announcement prompted an angry union backlash with Unite accusing the group of punishing loyal staff who had gone beyond the call of duty in supporting the bank and its customers through the pandemic.

A Lloyds spokesperson said: “This morning we shared changes to some of our teams and we can confirm a net reduction of 730 roles.

“These changes reflect our ongoing plans to continue to meet our customers’ changing needs and make parts of … Read the rest

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(Bloomberg) — Apple Inc. is grappling with a shortage of vital chips that manage power consumption in iPhones and other devices, people with knowledge of the matter said, complicating its ability to meet holiday demand for the latest version of its marquee gadget.It’s unclear to what extent the bottleneck may limit iPhone availability during its crucial launch quarter, typically Apple’s busiest. Despite the shortfall, suppliers are likely to prioritize Cupertino, California-based Apple and its power-hungry iPhone 12 over other customers lining up for scarce parts, said the people, who asked not to be identified discussing private matters.Increasing demand for silicon across a range of products and supply-chain disruptions from Covid-19 are the main causes of the shortage, according to the people. Main Apple chipmaker Taiwan Semiconductor Manufacturing Co. said in October that 5G smartphones require 30% to 40% more chip content versus 4G. That and uncertainty over the course of … Read the rest

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President Trump’s campaign stated on Wednesday that it plans to request a recount in the state of Wisconsin, which major news outlets have called in favor of his opponent Joe Biden.

A recount can—in theory at least—change the outcome of a presidential race if the new count leads to a state’s electoral votes being awarded to a different candidate. But, while recounts are fairly common, they almost never affect the outcome of elections at any level.

If you’re curious about Trump’s particular recount demand, and what it will mean, here is a plain English Q&A.

What type of recount is Trump asking for?

Trump’s campaign manager claimed without evidence on Wednesday that there have been reports of voting irregularities in Wisconsin and that the President would request … Read the rest

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Success stories can be truly motivational for many. Somebody’s journey towards excellence, the hardships they overcame, or how they finally achieved success, become examples that encourage us in achieving our goals.

Insights Success, in its upcoming edition “The 20 Most Successful CEO’s to follow in 2020,” is bringing the stories of some exceptional CEOs who are focused, dedicated and persistent towards their objectives, and are becoming a source of endless inspiration for everyone.

Currently serving as the Chief Executive Officer at Merchants Fleet, Brendan Keegan is one such inspiring leader, who facilitates a great experience for employees, profound service for the clients, and a strong return for shareholders—through a carefully articulated and executed strategic direction to transform the company’s business model.

According to Brendan, he joined Merchants Fleet for two major reasons—the people and the potential. He was able to get to know the Merchants team as a client … Read the rest

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