Pressure

Christine Lagarde: New challenges in a changing world

Retrieved on: 
Saturday, February 4, 2023
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A new beginning often brings with it new challenges, but it also presents us with plenty of opportunities.

Key Points: 
  • A new beginning often brings with it new challenges, but it also presents us with plenty of opportunities.
  • First, with support for an open global trading order on the wane, we are facing new types of shocks to the global economy.
  • For the past few decades, open trade has supported global growth by allowing countries to “rotate” demand during slumps.
  • [2] But now it could become a source of volatility.But now it could become a source of volatility.
  • This was evident during the British Empire in the 19
    th century, as it was with American support in the wake of the Cold War.
  • [3]
    However, major economies – led by the United States and China – are now increasingly using trade to limit the ambitions of geopolitical rivals.
  • The US Inflation Reduction Act, for example, is deliberately aimed at “reshoring” production and reducing the country’s reliance on strategic imports like batteries.
  • [5] China is also seeking to reduce its own dependence on the rest of the world.
  • With the security of supply for critical inputs no longer guaranteed, we are likely to see a new “scramble for resources”.
  • As this new global map takes shape, we enter 2023 facing three big challenges.
  • Inflation in Europe is far too high, partly due to our vulnerability to the changing geopolitics of energy.
  • As we head into 2023, a changing world brings with it new challenges, but also opportunities.
  • International Energy Agency (2022), “The Role of Critical Minerals in Clean Energy Transitions”, World Energy Outlook Special Report, Revised Version, March.
  • European Council (2022), “International taxation: Council reaches agreement on a minimum level of taxation for largest corporations”, 12 December.

The euro area bank lending survey – Fourth quarter of 2022

Retrieved on: 
Saturday, February 4, 2023
European Central Bank, Reproduction, Bank, Credit, Lisa Tauxe, Housing, Industry, Pressure, PMI, Banque du Liban, Risk, Environment, Knowledge, PDF, P, S, Logic, Eurosystem, NPL, Policy, Economics Bulletin, Growth, LTV, A, Purchasing, Website, SME, House, ECB, BLS, Table, GDP, Time, Instrumentation, Real estate, Clothing, Financial services, Security (finance), Landscape maintenance, Life insurance, Risk management, Publishing, Bookkeeping, Foodservice, Restaurant, Salt, Tourism, Renewable energy, Tobacco, Janitor, Online shopping, Property management, Typesetting

= Introduction =

Key Points: 
  • = Introduction =
    The results reported in the January 2023 bank lending survey (BLS) relate to changes observed during the fourth quarter of 2022 and expectations for the first quarter of 2023.
  • In addition to results for the euro area as a whole, this report also contains results for the four largest euro area countries.
  • = 1 Overview of results =
    In the January 2023 BLS, euro area banks reported a substantial further tightening of credit standards for loans or credit lines to enterprises in the fourth quarter of 2022, i.e.
  • In the first quarter of 2023, euro area banks expect a net tightening of a similar magnitude to the current quarter.
  • In more detail, euro area banks reported a substantial further tightening of their credit standards (i.e.
  • Banks’ cost of funds and balance sheet situation also continued to have a tightening impact on credit standards for loans to euro area firms.
  • In the first quarter of 2023, euro area banks expect a net tightening of similar magnitudes to the current quarter (24%).
  • Credit standards for loans to enterprises tightened in net terms in all four largest euro area countries in the fourth quarter of 2022 (see Overview table).
  • Firms’ net demand for loans decreased in the fourth quarter of 2022 (net percentage of -11%, after 13% in Q3 2022; see Overview table).
  • Net demand for both housing loans and consumer credit decreased in all four largest euro area countries.
  • Euro area banks reported that their access to retail funding and securitisation deteriorated moderately in the fourth quarter of 2022, while access to debt securities and money markets improved to a small extent.
  • Over the next six months, euro area banks expect a net tightening of credit standards across all main sectors of economic activity.
  • *Box 1 *General notes
    The bank lending survey (BLS) is addressed to senior loan officers at a representative sample of euro area banks.
  • In the current round, 151 banks were surveyed, representing all euro area countries and reflecting the characteristics of their respective national banking structures.
  • The main purpose of the BLS is to enhance the Eurosystem’s knowledge of bank lending conditions in the euro area.
  • The responses of the individual banks participating in the BLS are aggregated in two steps to form the euro area results.
  • In the first step, the responses of individual banks are aggregated to national results for the euro area countries.
  • It has been applied to all euro area and national BLS results in the current BLS questionnaire, including backdata.
  • In the assessment of survey balances for the euro area, net percentages between -1 and +1 are generally referred to as “broadly unchanged”.
  • = 2 Developments in credit standards, terms and conditions, and net demand for loans in the euro area = Euro area banks reported a substantial further tightening of credit standards for loans or credit lines to enterprises in the fourth quarter of 2022, i.e.
  • In the first quarter of 2023, euro area banks expect a net tightening of credit standards for loans to firms of a similar magnitude to the current quarter (24%).
  • Across the largest euro area countries, banks reported that in net terms the share of rejected loan applications increased in all four largest euro area countries.
  • According to euro area banks, firms’ net demand for loans decreased in the fourth quarter of 2022 (net percentage of -11%, after 13% in Q3 2022; see Chart 5).
  • Across all four largest euro area countries, credit standards for loans to households for house purchase tightened in net terms.
  • This is consistent with the recently observed slowdown in the rate of growth of house prices in the euro area.
  • In the first quarter of 2023, euro area banks again expect a net tightening of credit standards for consumer credit and other lending to households (net percentage of 15%).
  • Across all four largest euro area countries, overall terms and conditions for consumer credit and other lending to households tightened in net terms.

The ECB Survey of Professional Forecasters - First quarter of 2023

Retrieved on: 
Saturday, February 4, 2023
SPF, Uncertainty, Unemployment, Pressure, Government, Tobacco, Risk, HICP, Calendar, Human, Growth, ECB Survey of Professional Forecasters, ECB, GDP, Probability, Food, Bookkeeping, Silviculture, Blow molding, Risk management, Video game console, Instrumentation, Eurosystem

= Summary =

Key Points: 
  • = Summary =
    In the ECB Survey of Professional Forecasters (SPF) for the first quarter of 2023, HICP inflation expectations for 2023 and 2024 were revised up from the previous survey round (for the fourth quarter of 2022) to stand at 5.9% and 2.7% respectively.
  • [1] The upward revisions primarily reflect changes to expectations for inflation excluding energy, food, alcohol and tobacco (HICPX).
  • The profile for the expected unemployment rate was revised downward by between 0.1 and 0.2 percentage points across all horizons.
  • Results of the SPF in comparison with other expectations and projections
    (annual percentage changes, unless otherwise indicated)

    1) Longer-term expectations refer to 2027.

  • = 1 HICP inflation expectations revised up for 2023 and 2024 =
    SPF respondents revised up their inflation expectations for 2023 and 2024.
  • These stand at 5.9% and 2.7% respectively, 0.1 and 0.3 percentage points higher than in the previous survey round (see Chart 1).
  • Inflation expectations for 2025, which were not surveyed in the previous round (for the fourth quarter of 2022), stood at 2.1%.
  • Inflation expectations: overall HICP inflation and HICP inflation excluding energy, food, alcohol and tobacco
    (annual percentage changes)
    Regarding the near-term outlook, revisions to expected HICPX inflation (i.e.
  • HICP excluding energy and food) were the main factor behind upward revisions to the 2023 and 2024 inflation forecasts.
  • Notwithstanding the upward revisions to the calendar year expectations for 2023 and 2024, there are some tentative signs that inflation expectations may be levelling out.
  • The “rolling horizon” expectations for 12 and 24 months ahead of the latest available data (i.e.
  • Although easing slightly, quantitative indicators of uncertainty surrounding the shorter and medium-term inflation outlook remained close to historically high levels.
  • Two-year ahead inflation expectations disagreement (measured by the standard deviation of point expectations) stood at 0.94 percentage points.
  • This is down from 1.25 percentage points in the previous round, but still four times the historical average since 1999.
  • Regarding labour costs, respondents cited a mix of elevated inflation and labour market tightness as factors influencing their forecast evolution.
  • In this round, forecasters expected two quarters of negative quarter-on-quarter growth (fourth quarter of 2022 and first quarter of 2023) before some recovery starting in the second quarter of 2023.
  • Overall they expect economic activity to stagnate, at around 0.0% on average between the fourth quarter of 2022 and the third quarter of 2023 (see Chart 7).
  • In more detail, nearly all forecasters expected at least one quarter of negative growth while 85% forecast a “technical recession” (i.e.
  • This chart shows the average probabilities they assigned to different ranges of unemployment rate outcomes in the longer term.
  • Respondents expected the
    rate on the Eurosystem’s main refinancing operations to increase to 3.0% in the first quarter of 2023 and to 3.5% in the second quarter.
  • The peak expectation is for the fourth quarter of 2023 at 3.55% (although around 30% of respondents expected peak MRO interest rates of 4% or more).
  • Compared with the previous round (for the fourth quarter of 2022), the profile has been revised up by between 0.5 and 0.7 percentage points.

Global IoT WAN Markets, 2022-2027: Cellular and Non-Cellular Technologies and Solutions - 5G IoT will Drive the Majority of New Implementations with Communication Service Provider Network Expansion - ResearchAndMarkets.com

Retrieved on: 
Tuesday, January 10, 2023
Internet, 5G, Mobile, Wireless, Technology, Telecommunications, Ecosystem, News, Temperature, Wide area network, Pressure, IOT, Internet of things, Environment, Sound, Motion, WAN, LPWAN, Light, EC, M2M, Mobile phone, Video game console

The report assesses developments in the IoT WAN ecosystem, analyzes use cases, and provides a view into the future of IoT WAN communications.

Key Points: 
  • The report assesses developments in the IoT WAN ecosystem, analyzes use cases, and provides a view into the future of IoT WAN communications.
  • The report includes detailed forecasts for cellular and non-cellular IoT WANs 2022 to 2027.
    Who are the cellular and non-cellular solution providers for IoT WAN?
  • Who are the key players within the wireless IoT WAN ecosystem and why?
  • Why Low-Power Wide Area Network (LPWAN) is considered the key technology for wireless IoT WAN?

Smart Dust Global Market Report 2023: Integration of Smart Dust in the Medical Sector is Expected to Drive Growth - ResearchAndMarkets.com

Retrieved on: 
Tuesday, January 10, 2023
Technology, Other Technology, Row, Transport, Process, Nano, Field line, Smartdust, Temperature, Humidity, Space research, Fourth Industrial Revolution, Pressure, Government, IOT, Collection, Environment, Geography, Agriculture, 3D, Health, AI, Application, Component, Greater China Transport Logistics, Manufacturing, Workflow, North American Aerospace Defense Command, USD, MEMS, Vibration, Privacy, Pet, Instrumentation, Medical device, Consumer electronics, Television, Speciality chemicals

Typical Smart Dust consists of nano-structured silicon sensors, which can autonomously orient, sense, assemble, and report on the environment it is present in.

Key Points: 
  • Typical Smart Dust consists of nano-structured silicon sensors, which can autonomously orient, sense, assemble, and report on the environment it is present in.
  • For example, an appropriate fitting of a prosthetic limb - a medical process - could be significantly improved by utilising Smart Dust.
  • Such factors are expected to drive the Smart Dust market in future.
  • The emerging and efficient key players in the Smart Dust market include companies such as:

Cera: Care Provider Targets Over a Million Visits in January, to Aid Government Promise to Cut NHS Wait Times

Retrieved on: 
Tuesday, January 10, 2023
Biotechnology, Practice Management, Technology, Other Health, Health, Health Technology, Other Technology, Medical Devices, Apps, Applications, Software, Telemedicine, Virtual Medicine, Infection, A&E, Hospital, Nursing, Pressure, Machine learning, Bed, Telehealth, Health care, Health, Patient, Prescription, NHS, Health insurance

Leading home healthcare provider Cera is today announcing a commitment to deliver over one million visits in January, to more than 20,000 patients per day.

Key Points: 
  • Leading home healthcare provider Cera is today announcing a commitment to deliver over one million visits in January, to more than 20,000 patients per day.
  • As Europe’s largest provider of digital-first home healthcare, Cera is already equivalent in capacity to 50 NHS hospitals, working with numerous NHS Integrated Care Systems and Local Authorities nationwide to deliver care, nursing, telehealth and repeat prescriptions.
  • It has been proven to reduce hospitalisation rates by an unprecedented 52%, keeping more beds free across the NHS.
  • Last month, Cera launched its rapid discharge service in the Midlands, Yorkshire, Cheshire, and Merseyside, in advance of a national rollout.

Precisely Achieves UK Government’s G-Cloud 13 Supplier Network Status

Retrieved on: 
Tuesday, January 10, 2023
Software, Technology, Networks, Data Management, Cloud, Public sector, Pressure, Crown Commercial Service, Government, COVID-19, SVP, Risk, Local government, Privacy

Precisely , the global leader in data integrity, today confirmed it has been selected as a supplier for the Crown Commercial Service’s G-Cloud 13 Framework.

Key Points: 
  • Precisely , the global leader in data integrity, today confirmed it has been selected as a supplier for the Crown Commercial Service’s G-Cloud 13 Framework.
  • The approved vendor status further establishes Precisely as a trusted supplier to central government, local government, and public sector organisations across the UK, with the Precisely portfolio of data integrity solutions now available on the G-Cloud procurement platform .
  • The G-Cloud is an initiative that aims to simplify the process for UK government and public sector organisations to procure cloud-based services.
  • This is resulting in data silos, inefficient use of resources, lack of insight into citizen requirements, and even regulatory compliance issues.

The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Gaotu Techedu Inc. f/k/a GSX Techedu Inc. (GOTU) Investors

Retrieved on: 
Tuesday, January 10, 2023
Class Action Lawsuit, Professional Services, Legal, News, ADS, Person, Financial Times, Parent, Homeschooling, Pressure, Law, Government, NYSE, Defendant, Policy, Suite, Court, Reuters, GOTU, Security (finance), Tutoring, Great Architect of the Universe

Gaotu investors have until February 28, 2023 to file a lead plaintiff motion.

Key Points: 
  • Gaotu investors have until February 28, 2023 to file a lead plaintiff motion.
  • If you are a shareholder who suffered a loss, click here to participate.
  • On July 23, 2021, Reuters reported that China was barring for-profit tutoring programs, citing a government document that was widely circulated.
  • This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Post-Pandemic Hangover Causing $555 Billion Headwinds for Brick and Mortar Retail as Shoppers Habitually Abandon Long Lines

Retrieved on: 
Friday, January 13, 2023
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SAN CARLOS, Calif., Jan. 13, 2023 /PRNewswire/ -- New research commissioned by Zippin, a leading provider of checkout-free technology, reveals that the real cost of waiting in line at the store goes far beyond time wasted, with 92 percent of retailers admitting that wait times at busy periods have had a negative impact on their companies' revenues. Based on these findings, designed to reveal the state of retail post-pandemic, Zippin calculates that retailers are facing a $555 billion headwind as a result of shoppers leaving checkout lines.

Key Points: 
  • Based on these findings, designed to reveal the state of retail post-pandemic, Zippin calculates that retailers are facing a $555 billion headwind as a result of shoppers leaving checkout lines.
  • 80 percent of shoppers said since the pandemic they have had to stand in line more often when shopping in a retail store.
  • Over two-thirds of brick and mortar retailers said that the current tight labor market (where many find it hard to hire retail crew) is negatively impacting their revenues.
  • This, combined with the resulting long wait times at the checkout line, is causing a double whammy for retailers' bottom line.

WOOWOO RESEARCH REVEALS JANUARY 2023 SET TO BE BLUEST MONDAY ON RECORD

Retrieved on: 
Friday, January 13, 2023
Social media, Christmas, Failure, Empowerment, Mental health, Movement, Pressure, Family, Friends, Blue Monday, Collection, Work, Membranophone, Woman, Research, Life, Paleolithic diet, Food, Toy, Kardashian family

When asked which affected them worst, Love Island, which starts on Blue Monday, was the clear winner.

Key Points: 
  • When asked which affected them worst, Love Island, which starts on Blue Monday, was the clear winner.
  • Over three-quarters (77%) said it put pressure on how they felt about their bodies, followed by The Kardashians (52%) and TOWIE (38%).
  • The research revealed this to be spending time with family (82%), going on holiday (79%) and watching a good movie (77%).
  • Forget finding the 'New You' this January and instead prioritise yourself and what makes you happy to set yourself up for a healthier, happier year."