Did you know that the British referendum was not legally binding? For the British people to leave the European Union, they must invoke Article 50 of the Lisbon Treaty that came to be in the year 2009. The Brexit is likely to affect European business in many ways especially now that Theresa May, the British Prime Minister has been authorized by the British Parliament to initiate the exit process. This means that if the European Union and Britain reach an agreement, all the treaties between these two bodies will cease to exist. Uncertainty is likely to increase if the European Union and Britain do not reach an agreement. Two years of negotiations will be added to undo all the treaties dating back to the formation of the European Union.
The British people have leverage in this deal allowing them to negotiate from a position of strength. This is from the fact that UK imports products from the European Union. However, experts say that if UK negotiators put a lot of emphasis on this notion, this argument will end up being counterproductive. There are concerns that if UK can gain better terms that when it was a member state, this is likely to encourage other member states to leave the European Union.
The European Union is also expected to accept some terms that portray is as weak just for economic gains. Experts also say that the stable nations in Europe economically are those nations that do trade with the United Kingdom. The major issues concerning Brexit are trade and immigration. Movement across Europe will become restricted for many Britons. Conducting business across Europe will also be complicated unlike before as they will be expected to produce more papers. It’s the desire of the British people to keep their relationship with the European Union as it is today. However, this is very unlikely, and a lot of changes are expected.
Major social media companies are continuing to buy hot new startups to add new features to their brands, and the latest such buyout has been a the mobile social media giant Snapchat’s acquisition of Vurb. According to Business Insider, the deal is set to be a $200 million purchase of Vurb through stocks and cash, with about 25% as stock funds and 25% purchase funds. Perhaps one striking aspect of this deal is that Snapchat plans on keeping most of Vurb’s current employees, including their CEO Bobby Lo who is said to be getting a $75 million contract to stay aboard. It’s unclear exactly what made Snapchat decide to purchase Vurb, as they have not given any interviews on the matter, but it’s been speculated that they are interested in what Bobby Lo’s team can bring to their company, perhaps even more so than simply adding Vurb’s platform to theirs.
Vurb is a search platform that is geared towards online shoppers or DIY people who want community reviews handy or other guides on finding what they’re looking for. Vurb has integrated various review sites like Yelp and Fandango on its interface, and also has an instant messaging program built in so users can contact their friends. The company was launched in 2011 and funded chiefly by Redpoint Ventures, with some additional funding from Atlas Ventures and CrunchFund.
According to MW Partners, Snapchat is currently the third most popular social media app, behind only of course Facebook and their chief competitor Instagram, but could this acquisition of Vurb expand its social media borders? With how established Facebook and Instagram are, Snapchat still has a lot of work ahead of it to catch them. But Snapchat has surpassed Twitter already and seems to be indicating they will be around for quite a while.
Cotemar is a company that is based in Campeche, Mexico and has specialized in providing a variety of services for the country’s energy sector. Its expertise is in maritime services, handling oil, specialized shipping, as well as construction and maintenance of offshore facilities. Companies that have hired it to offer sea transport services include Petroleos Mexicanos.
The firm has currently employed highly skilled professionals in various fields to work on its vessels. It pays its staff well and has been striving to ensure that the environment that they work in is conducive. Cotemar operates by high standards and safety regulations. It has been devoted to ensuring that the employees are comfortable, and therefore, this has enabled it to be more productive. The employees of the firm receive the best treatment and privilages. They are offered accommodation, cleaning services, laundry, and delicious cuisine. The management of the company is also friendly and they engage freely with the junior employees.
The enterprise has been growing from the time it was established in 1979. The founders started it a business that was focused on lodging and catering services. It was however different from other companies since offered its services in the sea. Cotemar has currently grown the scope of service that it provides to its clients. Its success in the market has been attributed to its excellent values, mission, and vision.
Cotemar has a fleet of vessels that have been designed in a special way, and they are used in transporting both liquid and solid products. Some of the company’s boats can process oil. The vessels are mostly used to provide transportation to energy infrastructures that are located in the sea. The enterprise started acquiring more ships as from 1981. At that time, its focus was in offering transport services for people who needed to travel offshore. By 1985, Cotemar already owned a floating hotel that was fully equipped. It started venturing into specialized transport in the 1990s. It currently has over 40 vessels and a staff of more than 8000 professionals.
The company offers food and accommodation for people who board its vessels. Its lodging cabins can be used by 2-4 individuals. The boats also have various facilities that people can use to relax. They include basketball courts, common areas, TV rooms, and cinemas. The cuisine that is offered on the vessels is delicious, and its food court can accommodate more than 4000 people.
to see their opening job here
If the phrase ‘biting the hand that feeds you’ could be any more relevant, it definitely describes the situation between Europe and Silicon Valley tech companies. News companies in Europe may start charging search engines for their content snippets, and this has a future consequence.
The EU commission opts to empower European media companies with the right to charge for their republished content. It means they can bill companies like Google or Facebook whenever they republish news content from Europe on their feeds. According to the EU, this levels competition ensures that everyone is getting their fair share of the advertising limelight.
Here is an interesting twist: anyone familiar with how search engines and social sites work knows they are a vital source of viewer traffic. Republishing snippets, by Google or Yahoo, means more traffic to one’s website. The very media companies in Europe rely on features like Google News to gain readership and clicks. So to start charging for such a huge favor is blatantly biting the hand that feeds you.
Nonetheless, the EU commission feels justified about passing the new regulation as it safeguards the sustainability of media companies in Europe. With the advent of digital online platforms, brick and mortar media houses are facing publishing hurdles, and rely on both search engines and social media to pull most of their traffic. This is no regard for the EU, not when tech companies are controlling the advertising platform and leaving only morsels to their in-house media companies.
Though both parties feel confident with the argument they are bringing to the table, the outcome is certain for one side. Europe doesn’t have to look further than Spain if they need a glimpse of what is to come. Spain passed the same law a while back to remove the presence of tech companies in their companies. Immediately traffic to the publishing house dropped by 14% and things never went back to how they were before.
A smart decision that EU media companies should make is introducing robot.txt files to their content. This way, they will prevent search engines and social sites from republishing their content at the same time leaving this option open. There is no use in burning the entire bridge.
Entry by one of Europe’s largest discount airlines into the American market has generated some concern about its possible effects on the U.S. aviation industry. However, there are other indications that the new service may actually benefit those on both sides of the Atlantic.
Norwegian Air International, which is better known simply as Norwegian, received the approval from the U.S. Department of Transportation. This will allow it to provide service to selected American cities, including New York and Boston. The concern is related to the fact that the international division of Norwegian is based in Ireland, which has different rules than those existing in other countries with regard to the salaries of pilots and cabin attendants.
Although the rules in Ireland allow the firm to reduce its operating costs and, in turn, the fares of passengers, they could also undercut American-based companies, putting airline workers out of work and perhaps some U.S. carriers out of business. Some industry observers have compared this with a shipping company registering its vessels in a country that has lower taxes and fewer regulations. More about this controversy is available at www.reddit.com/r/business.
Norwegian has countered these concerns with some positive news, issuing a statement that it plans to increase its hiring of American pilots and cabin attendants, some of whom will be used in its new flights. Additionally, the carrier plans to purchase more than 30 Boeing 737 and 787 jetliners, which is good news for the American aerospace giant. A new model of the 737 that is extremely economical to operate should also make it possible for the carrier charge exceptionally low fares in its new transatlantic operations.
Three years ago, Amazon announced their plan to use drones to transport packages with the intend of lowering delivery times and costs. Now it has become a reality. The first flying delivery arrived at a costumer. After ordering the items online, the parcel arrived at its destination in 13 minutes.
Due to England’s lenient laws regarding air traffic and drones, Amazon decided to test their new service, Prime Air, overseas. The test phase started on December 7th. For right now, only a few costumers, those who live in close proximity to the Amazon warehouse, are eligible to receive their order by drone. As soon as the order comes in, the parcel is packed and loaded onto the drone. Then, the GPS- guided drone takes flight and follows a set path to the costumer’s address. After the drone lands, it releases the order and flies back to the warehouse.
There are certain limits to Prime Air. The size and the weight of the package are one, but also the weather plays an important factor. Drones will not deliver in rain or snow, and, for safety reasons, they only fly in daylight.
Don’t expect to see the groundbreaking service in the U.S. soon. It might take Amazon USA a while to overcome some legal hurdles before it can even run tests. Stricter U.S. laws are in place which are not in favor of the drones.
In 2016, the European banks have laid off fewer people than in previous years. It is actually related to layoff backlogs created during previous job cut announcements, Reuters reports. In the second half of 2015 alone, major European financial institutions announced job cuts totaling 130,000.
At present, it is hard to find areas where headcount can be reduced without affecting profitability. Some banks may even add to their payrolls although few expect big additions. And layoffs are still going on albeit in smaller proportions.
When it comes to the struggling Italian banks, one of the largest ones, Unicredit, just announced 14,000 cuts as it seeks funds to improve its balance sheet by dumping toxic debt. In addition these job cuts, UniCredit will offer shares to the public in a secondary offering.
Bad debts aren’t the only reason for low profits. Tougher regulations as well as low and negative interest rates have taken their impact. When it comes to banks in the STOXX Europe 600 Bank Index, in 2007 these banks employed nearly 2.5 million people. Now, Reuters estimates, the figure is over 5% below that count. This means, there are well over 120,000 fewer jobs at these banks than almost 10 years ago.
“Banks seem to be reasonably content and comfortable with their size right now,” claims Richard Hoar, director at Goodman Mason, a recruitment firm. The compliance and IT departments are the places where most bank jobs are created now.2016 Sees Fewer Layoffs at European Banks
The Brexit move elicited various reactions across the globe, as various bodies and movements have come up with propositions for the UK to avoid negative economic repercussions. Recently, a report filed by the Confederation of British Industry revealed that the United Kingdom has to get into a huge trade deal between the European Union and the United States.
In a bid to maintain its position as the largest investor in the US economy, CBI proposed the UK has to join the Transatlantic Trade and Investment Partnership (TTIP). The Transatlantic Trade and Investment Partnership is a large trade deal between the European Union and the United States. The CBI is worried that the UK’s move to exit the European Union could cause Britain’s economy to miss out on the TTIP deal as well as free trade advantages with the United States.
British businesses boast as the largest investors in the American economy, as they inject about $449 billion, which is equivalent to £342 billion. Consequently, the businesses have triggered the creation of over one million employment opportunities.
To attest to its investment prowess in the United States, the UK trounced Canada in terms of investment by investing about $200 billion more. In addition, the UK’s investment in the US was $76 billion more than that of Japan, its investment competitor. According to CBI, the UK’s portion of the US’s $2.9 trillion foreign direct investment was 15%. Other nations combined investment in the United States such as China and India did not attain a 1% mark.
Since the UK’s exit from the European Union, it has been struggling to find economic ground in the world, as the EU served as its largest consumer of service exports. The Institute for Fiscal Studies echoed that UK’s exit could trigger a loss of 4% of its economic output. It also added the possibility of weakening the government’s finances, which would give rise to a budget tightening of about £39 billion or $50.8 billion.
CBI reiterated that a clear strategy ought to be created to enhance trade with both existing and new business partners around the globe. It also pointed out that the US should be among the prioritized markets in a bid to lay stronger foundations for comprehensive trade in the future.
The Manse on Marsh received “The Caring Star” Award recently and this is not something they take lightly. It means they are doing something right and all of the hard work they have put into what they do is worth it. They know it is worth it, as they go above and beyond when it comes to helping those in the assisted living facility and memory care community. The expression where they say someone gets treated like family truly applies to The Manse on Marsh. When someone puts their loved one in The Manse on Marsh, they can rest easy knowing they will get top flight treatment and have the best care on hand. That is why the word caring means so much.
When a company cares, it shows and truly stands out in the best possible way. They hire people with patience, experience, and a true passion for this. While this is not an easy job, it is an incredibly rewarding one, as they know they are making a difference in someone’s life and making that transitional period a little bit easier. They like to keep everyone active and have fun things planned each and every day. They also respect people’s religious beliefs as well. They are all about making this as smooth as possible.
Nothing can ever replace home, but this is a close second. They go out of their way to make it feel like home and make it feel like a place where people can feel at ease, comfortable, and like they are surrounded by people that are going to keep them entertained, engaged, and full of life. The Manse on Marsh works very hard to get rid of that stigma that is attached to assisted living facilities. They want it to be a place that people look forward to and a place of joy and love. This Caring Star Award shows they are doing something right and people are taking notice and writing about it, talking about it, and raving about it. They earned this award and there is a strong feeling that more awards are in their future, from all of their followers on Facebook.
Europe’s large banks are undergoing many challenges in the marketplace and their stocks have greatly suffered.
Going back to the Great Recession the large banks were badly damaged not only by defaults in Iceland and Greece, but also by regulations put into place to curb and control these large institutions to prevent them from doing structural damage to the economy at large. Subsequently, they have been damaged by currency fluctuations due to Brexit, ongoing Central Bank moves keeping interest rates at all time lows, and
Now large European banks are undergoing increasing competition from many of the smaller banks and advisory firms across Europe.
This competition is hitting a traditional revenue source; fees from mergers and acquisitions. Currently, these boutique advisory firms and small banks are now earning half of all these fees across Europe.
These advisory firms charge significantly lower fees than the larger companies and an increase in the cost cutting concerns that many firms undergoing M&A activity has led to a move towards these boutique firms. In addition, these boutique firms typically only handle advisory services (defined as advisory if 85% of their revenue comes from advisory services) which increases the competence of their employees and also eliminates any conflicts of interest that they may have with their client base. Further, as they pay their employees better they have typically been able to attract better talent overall.
These M&A fees are not insignificant. For 2016, through August 10, the fees are about $1.7 billion that ave gone to small boutique firms and away from the large banks who typically collected these fees. This is an increase of about 5% from 2015 and 15% since 2007. Most of these fees (about 65%) are earned by European advisory firms while the remainder are earned by international advisory firms. Not included in these figures are some of the large pending deals tat have not been completed yet.
Large banks in the United States have done a better job at retaining their clients in regards to M&A activity and small boutique advisory firms have not gained the same traction there. As such, many market observers are questioning if there is something unique about the European marketplace that has made the rise of these advisory firms endemic.