Financial Innovation – Eq Muscle Release Mon, 08 Aug 2022 21:21:10 +0000 en-US hourly 1 Financial Innovation – Eq Muscle Release 32 32 Vicarious Surgical Announces Second Quarter 2022 Financial Results Mon, 08 Aug 2022 20:58:58 +0000

August 8, 2022

WALTHAM, Mass.–(BUSINESS WIRE)–Vicarious Surgical Inc. (“Vicarious Surgical” or the “Company”) (NYSE: RBOT, RBOT WS), a next-generation robotics technology company focused on improving patient outcomes as well as both the cost and effectiveness of surgical procedures, today announced its financial results for the three months ended June 30, 2022. Management will hold a corresponding conference call at 4:30 p.m. ET today, August 8 2022.

“We are excited to move closer to our regulatory and commercial goals as we progress the development and integration of our Beta 2 system, continue feedback sessions with leading surgeons, and initiate Center of Excellence partnerships. with UH Ventures and HCA Healthcare,” Adam said. Sachs, President and CEO of Vicarious Surgical, “We believe we are well positioned to deliver a surgical robot that can integrate effectively into the hospital setting by aligning our design with workflow needs while adhering to technical standards. the highest in order to improve the user experience. ”

Second quarter 2022 financial results

  • Operating expenses were $19.1 million for the second quarter of 2022, compared to $6.6 million for the corresponding period a year earlier, an increase of 189%.
  • R&D expenses for the second quarter of 2022 were $10.1 million, compared to $4.0 million in the second quarter of 2021.
  • General and administrative expenses for the second quarter of 2022 were $7.8 million, compared to $2.3 million in the second quarter of 2021.
  • Sales and marketing expenses for the second quarter of 2022 were $1.3 million, compared to $0.3 million in the second quarter of 2021.
  • Adjusted net loss for the second quarter was $19.1 million, or a loss of $0.16 per share, compared to an adjusted net loss of $6.6 million, or a loss of $0.08 per share, for the same period of the previous year. GAAP net loss for the second quarter was $1.5 million, equating to a basic and diluted net loss per share of $0.01, compared to a net loss of $6.6 million or a basic and diluted net loss per share of $0.08 for the same period of the fiscal year. last year.
  • The cash burn rate for the second quarter of 2022 was $15.7 million.

Conference call

Vicarious Surgical will host a conference call at 4:30 p.m. ET on Monday, August 8, 2022 to discuss its second quarter 2022 financial results. The call can be viewed through an operator by dialing +1 (646) 904 5544 for domestic callers or +1 (929) 526 1599 for international callers, using passcode: 892258. A live and archived webcast of the event will be available at

About Vicarious Surgical

Founded in 2014, Vicarious Surgical is a next-generation robotics company developing disruptive technology with the goal of increasing the efficiency of surgical procedures, improving patient outcomes and reducing healthcare costs. . The company’s new surgical approach uses proprietary human-like surgical robots to transport surgeons inside the patient to perform minimally invasive surgery. The company is led by an experienced team of technologists, medical device professionals and physicians, and is backed by tech luminaries such as Bill Gates, Vinod Khosla’s Khosla Ventures, Innovation Endeavors, Jerry Yang’s AME Cloud Ventures, Sun Hung Kai & Co. Ltd and Philip Le E15 VC from Liang. The company is headquartered in Waltham, Massachusetts. Learn more at

Use of Non-GAAP Financial Measures

In addition to providing financial measures that have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”), Vicarious Surgical provides additional financial measures that are not prepared in accordance with US GAAP (“not -GAAP”). The non-GAAP financial measures included in this press release are Adjusted net loss and Adjusted net loss per share (“Adjusted EPS” and, together with Adjusted net loss, the “Non-GAAP financial measures”). The Company presents non-GAAP financial measures to help readers of its consolidated financial statements understand the key results of operations that its management uses to assess the business and for financial planning purposes. Vicarious Surgical’s non-GAAP financial measures provide an additional tool for investors to compare its financial performance over multiple periods.

Adjusted Net Loss and Adjusted EPS are key performance measures that Vicarious Surgical’s management uses to assess its operating performance. These non-GAAP financial measures facilitate internal comparisons of Vicarious Surgical’s operating performance on a more consistent basis. Vicarious Surgical uses these performance metrics for business planning and forecasting purposes. Vicarious Surgical believes that non-GAAP financial measures enhance an investor’s understanding of Vicarious Surgical’s financial performance because they are useful in evaluating its operating performance from period to period by excluding certain items that Vicarious Surgical, are not representative of its core business.

Non-GAAP financial measures may not be comparable to similarly titled measures of other companies because they may not calculate this measure in the same way. Adjusted Net Loss and Adjusted EPS are not prepared in accordance with US GAAP and should not be considered in isolation or as an alternative to measures prepared in accordance with US GAAP. When evaluating Vicarious Surgical’s performance, you should consider non-GAAP financial measures as well as other measures of financial performance prepared in accordance with US GAAP, including net loss.

Non-GAAP financial measures are not a substitute for the presentation of Vicarious Surgical’s US GAAP financial results and should only be used in addition to, and not as a substitute for, Vicarious Surgical’s financial results reported in accordance with US GAAP. In this press release, Vicarious Surgical has provided a reconciliation of Adjusted Net Loss to Net Loss, the most directly comparable US GAAP financial measure, and calculation of Adjusted EPS.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The company’s actual results may differ from its expectations, estimates and projections and, therefore, you should not rely on these forward-looking statements as predictions of future events. All statements other than statements of historical fact contained herein, including, without limitation, quotes from our Managing Director regarding the desirability of Vicarious Surgical, among others, are forward-looking statements that reflect the beliefs and current management expectations. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are beyond Vicarious Surgical’s control and are difficult to predict. Factors that could cause such differences include, but are not limited to: the impact of COVID-19 on Vicarious Surgical’s business; changes in applicable laws or regulations; Vicarious Surgical’s ability to raise funds in the future; the success, cost and timing of Vicarious Surgical’s product and service development activities; the potential attributes and benefits of Vicarious Surgical’s products and services; Vicarious Surgical’s ability to obtain and maintain regulatory approval for the Vicarious System, and any related restrictions and limitations of any approved product; the size and duration of human clinical trials for Vicarious Surgical; Vicarious Surgical’s ability to identify, license or acquire additional technology; Vicarious Surgical’s ability to maintain its existing licensing, manufacturing, supply and distribution agreements; Vicarious Surgical’s ability to compete with other companies that currently market or are engaged in developing products and services that Vicarious Surgical currently markets or develops; the size and growth potential of the markets for Vicarious Surgical’s products and services, and its ability to serve those markets, either alone or in partnership with others; pricing for Vicarious Surgical’s products and services and reimbursement for medical procedures performed using its products and services; the company’s estimates of expenses, revenues, capital requirements and additional financing requirements; the financial performance of Vicarious Surgical; economic downturns, political and market conditions and their potential to adversely affect Vicarious Surgical’s business, financial condition and results of operations; and other risks and uncertainties stated from time to time in Vicarious Surgical’s filings with the SEC. Vicarious Surgical cautions that the above list of factors is not exclusive. The company cautions readers not to place undue reliance on forward-looking statements, which speak only as of the date made. Vicarious Surgical neither undertakes nor accepts any obligation or undertaking to issue updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances about which any such statement is made. based.


Promoting SDG business innovation | PNG Loop Sun, 07 Aug 2022 03:46:00 +0000

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the Presidential Agency for International Cooperation of Colombia (APC Colombia) have formalized this partnership.

The SDGs have increasingly transformed the way the private sector operates to achieve inclusive and sustainable development.

Companies are beginning to realign their priorities with this important development agenda, and innovative business models are emerging – such as social enterprises, inclusive businesses and collective benefit models – in which the goal and end goal target the challenges social and environmental, rather than exclusively profit.

In addition, financial institutions are shifting from for-profit investing to investment decision-making schemes that consider variables in terms of positive social and sustainable impact in the business model. However, this trend needs more support to move from the margins to the mainstream economy.

“To achieve the ambitions of the SDGs, we need businesses that benefit people and the planet as well as profit. Through this partnership, we aim to scale up urgently needed business innovations and create a global movement, to unleash the full potential of the private sector for the SDGs, through South-South cooperation across Asia- Pacific and Latin America,” said Armida Salsiah Alisjahbana, UN Under-Secretary-General and Executive Secretary of ESCAP.

“This partnership will focus on supporting policymakers in the Asia-Pacific and Latin America regions to promote business innovation for the SDGs, through South-South cooperation,” said Viviana Manrique Zuluaga, Managing Director of APC Colombia.

“This will be achieved through next generation research and policy analysis aimed at promoting sustainable practices within the private sector, knowledge sharing, development of a network of decision makers and policy advice. practices to governments.

3D Systems appoints Michael Turner as CFO Thu, 04 Aug 2022 20:05:00 +0000

ROCK HILL, South Carolina, Aug. 04, 2022 (GLOBE NEWSWIRE) — 3D systems (NYSE: DDD) today announced that Michael Turner will join the company as Executive Vice President and Chief Financial Officer, effective August 29, 2022. He will report to President and Chief Executive Officer, Dr. Jeffrey Graves, and will lead the company’s global finance organization. , including accounting and control, financial planning, taxation, treasury and investor relations.

Michael brings exemplary technical experience to the CFO role, which includes experience in public accounting as well as financial leadership roles of increasing responsibility in public and private companies. Currently, Michael is the Chief Financial Officer of Innovative Chemical Products (ICP), a leading developer and manufacturer of specialty coatings, adhesives and sealants serving major industrial and construction end markets. Previously, Michael was CFO at publicly traded chemical company Albemarle Corporation, where his roles included Business Unit CFO, Vice President of Corporate FP&A and CFO for Technology Implementation. ERP (Enterprise Resource Planning) global enterprise. Michael’s 20+ year career in finance also includes senior finance positions as a divisional and corporate controller at FMC Corporation and Polypore International, respectively.

“I am delighted to have such a seasoned financial executive as Michael join 3D Systems,” said Dr. Graves. “Michael has deep expertise in building strong financial controls and governance and implementing technology-enabled strategies to transform finance organizations. His experience will prove invaluable as we continue to invest in our corporate infrastructure to support the attractive growth trajectory we envision for both our business and the additive manufacturing industry as a whole.

“Furthermore,” noted Dr. Graves, “I would like to express my sincere gratitude to Wayne Pensky for his service as Acting Chief Financial Officer. I greatly appreciate Wayne’s leadership during this transition period, as well as the support he will provide to Michael to ensure a smooth transition in the weeks ahead.

Forward-looking statements
Certain statements made in this release that are not statements of historical or current fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the company’s actual results, performance or achievements to be materially different from historical results or any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by words such as “believes”, “believes”, “expects”, “may”, “will”, “estimates”, “intends”. , “anticipate” or “plan” or the negative of these terms or other comparable terms. Forward-looking statements are based on management’s current beliefs, assumptions and expectations and may include comments about the company’s beliefs and expectations regarding future events and trends affecting its business and are necessarily subject to uncertainties, including many are beyond the company’s control. The factors described under the headings “Forward-Looking Statements” and “Risk Factors” in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or anticipated in the forward-looking statements. research statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, the forward-looking statements are not and should not be taken as guarantees of future performance or results, and they will not necessarily prove to be precise indications of time at which these performances or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or revise any forward-looking statements made by or on behalf of management, whether as a result of future developments, subsequent events or circumstances or otherwise, except as required by law. requires it.

About 3D Systems
Over 30 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading additive manufacturing solutions partner, we bring innovation, performance and reliability to every interaction – enabling our customers to create products and business models never before possible. Through our unique offering of hardware, software, materials and services, each application-specific solution is powered by the expertise of our application engineers who work with customers to transform the way they deliver their products and services. 3D Systems’ solutions serve a variety of advanced applications in healthcare and industrial markets such as medical and dental, aerospace and defense, automotive, and durable goods. More information about the company is available at

A photo accompanying this announcement is available at

]]> GAM Holding AG announces the appointment of a new group leader Wed, 03 Aug 2022 05:01:00 +0000

August 03, 2022


Ad hoc announcement pursuant to Art. 53 registration rules:

Holding SA announcement the meeting of New Band Financial director

GAM Holding AG has announced the appointment of Sally Orton, currently Deputy Chief Financial Officer (CFO), as Group CFO and member of the Group Management Board (GMB). This follows Richard McNamara’s decision to step down from his role. Richard has been the Group’s Chief Financial Officer since 2015 and will leave the company towards the end of the year. Sally’s appointment as Group CFO and as a member of the GMB will take effect immediately. Richard will remain with the firm over the next few months to ensure a smooth transfer to Sally.

Peter Sanderson, CEO of GAM Investments said: “I am delighted that Sally has been appointed Group Chief Financial Officer and warmly welcome her to the Group Management Committee. I would also like to thank Richard for his tremendous contribution to GAM over the past seven years. He was a great personal support to me and worked tirelessly to help us through a difficult time. Sally has served as Deputy Chief Financial Officer since the start of this year, has extensive experience in asset management and is an invaluable member of our leadership team.”

About Sally Orton:

Sally Orton joined GAM in May 2022 as Deputy Chief Financial Officer. She is a Chartered Accountant with over 25 years of experience. She has held management and executive positions in listed asset management, insurance, banking and infrastructure companies. Sally also has 15 years of experience in accounting practice, graduating from KPMG in Australia before moving to the UK where she spent a combined 10 years with PwC and EY specializing in audit and advisory engagements. for banks and capital markets.

Events to come:

August 3, 2022 2022 half-year results

The GAM Holding AG analyst, investor and media H1 2022 results presentation will take place on Webex on August 3, 2022 at 10:00 a.m. (CET). The documents relating to the results (presentation slides, half-year report 2022 and press release) are available on

October 20, 2022 Intermediate management statement Q3 2022
February 28, 2023 2022 annual results

For more information, please contact:

Charles Naylor
Communication and Investor Relations Manager
T +44 7890 386 699

Investor Relations Media Relations
Stephen Gardner Ute Dehn Christen
T +44 7790 778544 T +41 58 426 31 36

Visit us:
Follow us: Twitter and LinkedIn

About GAM

We are an active and independent global asset manager that goes beyond the obvious to deliver distinctive and differentiated investment solutions to our clients across our three core businesses: investment management, wealth management and fund management services.
Our goal is to protect and improve the financial future of our clients. We attract and empower the brightest minds to provide investment leadership, innovation and positive social and environmental impact.
At the service of institutions, financial intermediaries and private investors, we manage 83.2 billion francs in assets.
Headquartered in Zurich, GAM Investments is listed on the SIX Swiss Exchange under the symbol “GAM” and we employ 594 people in 14 countries with investment centers in London, Cambridge, Zurich, Hong Kong, New York and Milan, 30 June 2020 Our operational centers are in Dublin, Luxembourg and London.

Disclaimer Regarding Forward-Looking Statements

This press release of GAM Holding AG (“the Company”) includes forward-looking statements that reflect the Company’s intentions, beliefs or current expectations and projections regarding future results of operations, financial condition, liquidity, performance, outlook, strategies, opportunities, and the industry in which it operates. Forward-looking statements involve all matters that are not historical facts. The Company has attempted to identify these forward-looking statements by using words such as “may”, “will”, “should”, “should”, “expect”, “intend”, “estimate”. , ‘anticipate’, ‘plan’, ‘believe’, ‘seek’, ‘plan’, ‘predict’, ‘continue’ and similar expressions. Such statements are made based on assumptions and expectations which, although the Company believes to be reasonable at this time, may prove to be incorrect.

These forward-looking statements are subject to risks, uncertainties, assumptions and other factors that could cause the Company’s actual results of operations, financial condition, liquidity, performance, prospects or opportunities , as well as those of the markets it serves or intends to serve , differ materially from those expressed or implied by such forward-looking statements. Important factors that could cause such differences include, but are not limited to, changes in trading or other market conditions, legislative, tax and regulatory developments, general economic conditions and the Company’s ability to respond to trends in the financial services industry. Additional factors could cause actual results, performance or achievements to differ materially. The Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements contained in this press release and any change in the Company’s expectations or any change in events, conditions or circumstances on which these forward-looking statements are made, except as required by applicable law or regulation.

  • Ad hoc_GAM announces the appointment of a new Group Chief Financial Officer_EN

  • Sally Orton

]]> Newmark Arranges $514 Million Construction Financing for Phase I of Assembly Innovation Park in Somerville, Massachusetts Mon, 01 Aug 2022 13:00:00 +0000

Funding is one of Greater Boston first “green loans” and among more than $4 billion in recent, active life science deals by Newmark’s Boston Debt & Structured Finance group

BOSTON, August 1, 2022 /PRNewswire/ — Newmark Announces Arrangement of $514 million in financing the construction of Phase I of Assembly Innovation Park, a 485,000 square foot life science tower being developed by BioMed Realty in Somerville, Mass.. Newmark Executive Managing Directors David Douvadjian, Sr. and Timothy O’DonnellChairman and CEO Brian ButlerGeneral director David Douvajian, Jr. and partner Conor Reenstierna of the firm’s Boston Debt & Structured Finance group represented the borrower.

The Assembly Innovation Park Phase I funding is one of the Greater Boston first “green loans”. Designed to achieve LEED Gold and WELL certifications, the 12-story asset and its associated parking garage will incorporate sustainable technologies including a high-performance curtain wall, high-performance chilled water and exhaust air systems. efficiency and a photovoltaic network on the roof. The project started in January 2022 and is expected to deliver in the second quarter of 2024.

“Life sciences have been a major driver of fundraising activity across Greater Boston over the past 18 months,” said Douvadjian, Sr. “Projects like Phase I at Assembly Innovation Park will ensure the region continues to be one of the world’s top destinations for laboratory, advanced research and biotechnology.

The Assembly Innovation Park Phase I financing is among more than $4 billion in recent, active life science deals by Newmark’s Boston Debt & Structured Finance group. This list started in December 2020 with the arrangement of the group of $404 million in financing 601 Congress, a 482,000 square foot office-to-lab conversion at from boston Seaport District, also on behalf of BioMed Realty.

“Our life science business spans construction and conversion projects across multiple submarkets in Greater Boston“, O’Donnell said. “We are working closely with Newmark’s Boston Capital Markets group, which oversaw the sale of properties including Assembly Innovation Park and 601 Congress, to provide our clients with a menu of truly synergistic services. .”

Led by Newmark, Co-Head of US Capital Markets Robert GriffinExecutive Vice President Edward MaherVice-president Matthew Pullenexecutive general manager James Tribble and general manager Samantha Hallowellthe company’s Boston Capital Markets group was the most active broker of office and life science properties in United States in 2021 with more than $5.4 billion in sales, according to Real estate alert comparison of regional rankings.

Newmark Financial Analyst Harrison Zuco provides financial analysis support for transactions arranged by the firm’s Boston Debt & Structured Finance group.

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a global leader in commercial real estate, seamlessly powering every phase of the property lifecycle. Newmark’s full range of services and products are uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue chip enterprises. Combining the platform’s global reach with market intelligence in established and emerging real estate markets, Newmark delivers superior service to clients across all industries. Newmark has generated revenue from nearly $3.2 billion for the twelve months ending June 30, 2022. Newmark company-owned offices, together with its business partners, operate from approximately 170 offices with over 6,500 professionals worldwide. To learn more, visit or follow @newmark.

Discussion of Forward-Looking Statements Regarding Newmark

Statements contained herein regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements regarding the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly significantly, from what is currently expected. Except as required by law, Newmark assumes no obligation to update forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s filings with the Securities and Exchange Commission, including, but not limited to , risk factors and special note on forward-looking statements. Forward-looking information set forth in these documents and any updates to these risk factors and special note on forward-looking information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

SOURCENewmark Group, Inc.

We spend less on the things that make us happy, thanks to the Covid Sat, 30 Jul 2022 17:00:00 +0000

Although the financial fallout from Covid was not as harsh as feared, it still resulted in a loss of life satisfaction and financial optimism.

The Department for Business, Innovation and Employment (MBIE) this week released the third wave of research into a nation’s spending and mood, surveying around 1,700 people, at six-month intervals . The first survey took place in March 2021, a year after the Covid strike, the third in March 2022.

Covid would rapidly change consumer concerns, behaviors and experiences, the initial study surmised. MBIE has set out to monitor these impacts, said Simon Gallagher, national director of consumer services.

“We wanted to learn more about how the pandemic was changing the situation for consumers and develop and adapt our resources to support them.”

MBIE has tracked the expenses and well-being of Kiwis affected by Covid.

Kathryn George / Stuff

MBIE has tracked the expenses and well-being of Kiwis affected by Covid.

* Rising minimum wage kicks businesses in when they’re down
* Government considers regulating ‘buy now, pay later’ lenders
* Consumer watchdog sees huge increase in complaint calls about travel and accommodation industries

The MBIE looked at income, employment and financial status; personal well-being (mental and financial); confidence and ability to pay for essential and non-essential goods and spending behavior and priorities.

While employment and wages have not been hit as hard by Covid over the past 12 months as respondents feared, there has still been a decline in well-being, with more income being spent on necessities such as groceries, rent, insurance and gas.

In contrast, fun luxuries such as entertainment, restaurants and travel expenses have been cut off as high inflation has followed the pandemic.

That lines up with Kiwi Wealth’s annual State of the Nation Investor Report, released Wednesday, which found 37% felt less affluent than a year ago.

“Despite considerable optimism… [that] mental well-being would improve…in fact, mental well-being declined throughout,” says Gallagher.

Simon Gallagher from the Department for Business, Innovation and Jobs.


Simon Gallagher from the Department for Business, Innovation and Jobs.

“Covid-19 has taken the world by surprise, and it seems to have been felt by almost everyone in one way or another.”

Financially secure people reported the most positive impacts, while financially insecure people had a very different experience.

People with high incomes, homeowners or those in full-time jobs do quite well, according to the study, with an increase in personal or household income. They were more likely to have increased their savings or increased their investment spending.

The hardest hit group was described as at-risk consumers; Maori, Pasifika and younger participants, households with children, those living in apartments or rentals and low-income households.

They were significantly more likely to be involuntarily unemployed, to have lost their job in the last year, to work less than they wanted or needed, or to have a decline in personal income and household.

Courier vans were frantic during Covid.

Ross Giblin / Stuff

Courier vans were frantic during Covid.

At-risk consumers are significantly less confident of being able to afford major household items, surprise bills, regular bills, and necessities, as well as being able to find the items they want or need.

Meanwhile, the shift to online shopping has also caused downstream issues such as lower consumer optimism, Gallagher says. There were more late delivery or non-delivery issues.

“Anecdotal evidence suggests this, but the surprise is that we are seeing more consumers making these choices because they have no other alternatives.

“When expectations are not met, consumer optimism often plummets. When asked if consumers expected their buying confidence to improve over the next six months, the answer was often positive, but the experience was below expectations.

Mental well-being continued to decline. Less than half (49%) rated their mental wellbeing positively, down from 54%, and 14 percentage points lower than before the first Covid-19 lockdown in March 2020.

And yet, the jobs scene is rosier; MBIE found that 89% of respondents in full-time employment in August 2021 were also employed six months later. Only 5% were involuntarily unemployed.

We spend less on goods and services that make us happy, new research shows.

Ricky Wilson / Stuff

We spend less on goods and services that make us happy, new research shows.

According to MBIE, some perceived their jobs to be more vulnerable than they actually were, with 14% of those surveyed in August expecting to lose their jobs within six months, while only 5% did.

Positive perceptions of overall financial well-being have declined significantly with the onset of Covid-19. Those who describe their financial well-being as good or very good fell by 15 percentage points between before the first Covid lockdown and March/April 2022.

It was fear-based and understandable, says Dr Janine Williams, a lecturer at Victoria University’s School of Marketing and International Business.

“When fear arises in response to a threat in the external environment, one experiences uncertainty. This results in heightened perception of risk and, due to uncertainty about potential outcomes in the future, decisions become more risk averse.

“All is not good…the virtuous self-control we exhibit can be detrimental to our well-being if we engage in such self-control to the extent that we do not consume life-enhancing options. well-being due to frugality.

Janine Williams, Marketing Speaker: Not being able to buy luxury goods can impact your well-being.

Te Herenga Waka-Victoria University of Wellington

Janine Williams, Marketing Speaker: Not being able to buy luxury goods can impact your well-being.

“This response is often the result of prior guilt after making the decision to turn in, and may be associated with fear and uncertainty.”

MBIE found that incomes have increased since August, with 19% seeing an increase and 12% a decrease, meaning that the impact of Covid-19 on personal and household income changes has diminished over the past six months. month.

Feelings of job vulnerability persist, with 15% believing they could lose their jobs by October, even though respondents were significantly more likely to report working more hours than they expected. wanted/needed (24%) than six months ago (12%).

Almost one in four described their overall satisfaction with life as not so good or bad. A year ago it was one in six, six months ago it was one in five.

Not being able to buy luxury goods can impact your sense of well-being, says Dr. Williams.

Consumers buy some goods for more instrumental purposes, while others are consumed for more hedonic pleasure, she says.

“They consume such products as they pursue goals that are more related to pleasure or utility, but that doesn’t mean they’re mutually exclusive,” she says.

“Necessities are often associated with a more instrumental or functional purpose while hedonic choices are often associated with luxury (not to say that a lawn mower cannot bring joy to the owner but that some purchases are more driven by hedonic pleasure).

Hedonic consumption is linked to pleasurable experience and positive emotions such as pleasure, fantasy and excitement, while utilitarian consumption serves a largely functional purpose, Williams says.

Which is not to say that happiness always follows luxury spending.

Eating at restaurants has become a luxury, as Kiwis avoid spending.


Eating at restaurants has become a luxury, as Kiwis avoid spending.

“Interestingly, research reveals that decisions driven by hedonic goals are often associated with short-term pleasure, but can also lead people to feel bad about themselves,” Williams says.

They may feel bad or guilty after an impulse purchase, seeing themselves as indulgent or frivolous.

“Consumers trade their hedonic consumption decisions in terms of cost – for their savings or perhaps their health. They are therefore often associated with a lack of self-control.

“Consumers make predictions about happiness and how long it will last following a purchase. These predictions are influenced by what is happening around them and are often inaccurate,” she says.

MBIE conducts the survey over five cycles (every six months for two years) to track changes over time and compare anticipated changes with actual changes. It will fuel support for business and consumer policy implementation and how to address their pandemic-related issues.

The results were shared with other government agencies, businesses and NGOs to help them in their work on consumer issues.

The findings underpin the hardship and affordability consumer protection campaign that has just begun and will run online for the next four to six weeks.

]]> Gensler aims for exchanges to register with the SEC Thu, 28 Jul 2022 22:33:35 +0000

U.S. Securities and Exchange Commission Chairman Gary Gensler has worked harder to try to get crypto trading platforms to register with the SEC as talks about how to regulate the increase in the volume of assets.

In a video published On Thursday (July 28), Gensler said he wants agency staff to work with crypto exchanges to help them become regulated “much like stock exchanges,” according to Bloomberg.

“Look, there’s no reason to treat the crypto market differently just because a different technology is being used,” he said.

Officials at the market watchdog said they are looking at ways to register certain coins as securities, and the agency is considering whether to resolve certain conflicts of interest when crypto platforms are market makers.

Gensler has previously raised concerns about some platforms that may evade the rules, potentially betting against their own customers.

There’s been a lot of talk about how cryptos and stablecoins should be regulated, and U.S. Sen. Pat Toomey (R-Pa.) recently said the SEC’s approach has “damaged both the ‘financial innovation and to American clients’.

Read more: Senator Toomey Slams SEC on Crypto, Calls for Bipartisan Stablecoin Oversight

“Over the past several weeks, several companies whose crypto lending services were arguably within the jurisdiction of the SEC have collapsed,” Toomey wrote to Gensler, quoted in a statement from the Senate Banking Committee.

Toomey also said companies have often promised high and potentially unsustainable interest rates to depositors, with at least one leading somewhat risky practices – namely Celsius, which now has $12 billion in frozen assets.

He said if the SEC had listened to calls for advice on how to work with securities laws with crypto, it might have helped companies react accordingly and stop the losses, rather than the situation. where the commission has regulated “by enforcement, selectively deciding to enforce its opaque stance on when digital assets and services are securities.

Toomey has been in talks with Democrats to try to gain bipartisan support on a bill for stablecoin oversight.

For all the PYMNTS crypto coverage, subscribe daily Crypto Newsletter.



About: Results from PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed responses from 9,904 consumers in Australia, Germany, UK and USA. and showed strong demand for one super multi-functional app rather than using dozens of individual apps.

Eckes-Granini chooses Sopheon for innovation and Wed, 27 Jul 2022 13:20:00 +0000

MINNEAPOLIS, July 27, 2022 (GLOBE NEWSWIRE) — Sopheonleading international provider of software and services for Business innovation management solutions, announced today that it has been selected by the Eckes-Granini Group, the European market leader in fruit juices and fruit drinks, to help drive strategic innovation initiatives, including sustainable development. Based on Sopheon’s SaaS hug® The innovation system will support the international streamlining of the company’s innovation process and drive strategic alignment and prioritization of portfolios across brands and geographies.

A family business with over 160 years of history, Eckes-Granini fruit juices and drinks are enjoyed by consumers in over 80 countries. Based in Nieder-Olm, Germany, Eckes-Granini generates annual sales of over $900 million (USD) and has nearly 1,700 employees. Sustainability is a central driver of innovation, new processes and increased digitization at Eckes-Granini.

“Innovation is a key element in Eckes-Granini’s objective to further strengthen its leading position in the fruit juice market and also to open up new categories,” said Ágnes Kovács, CMO of Eckes. -Granini. “With many teams in multiple countries, we need a system that facilitates clear communication and builds efficiency across multiple groups. Sopheon’s Innovation Management System will help strengthen collaborative efforts among members of our globally distributed innovation team and to support the strategic alignment and prioritization of portfolios across Eckes-Granini’s brands and geographies.

Accolade® is Sopheon’s unique, flexible and scalable innovation system that enables companies to more effectively manage innovation and new product development programs. Hundreds of long-time blue chip clients have experienced superior performance from strategy to execution, increased time to market, streamlined operational costs and greater success products thanks to Accolade®.

“The SaaS-based Accolade® innovation management system uniquely promotes portfolio visibility and improves resource and investment allocation,” said Greg Coticchia, CEO of Sopheon. “Serving as a single source of truth, Sopheon helps forward-thinking companies improve the success rate of new product launches and initiatives. Through this partnership, Sopheon will support Eckes-Granini in its mission to provide the highest quality natural products in an environmentally friendly way.

To learn more about how Sopheon is transforming business innovation, visit our website at

Eckes-Granini is the leading supplier of fruit juices and fruit drinks in Europe. For the independent family business headquartered in Nieder-Olm, Germany (Rhineland-Palatinate), the focus is on committed and competent employees, strong brands in the areas of juices, fruit drinks and smoothies, and a long-term strategic orientation with sustainable value creation. Today, Eckes-Granini operates mainly in Europe, with its own national companies and strategic partners, and generates an annual turnover of 856 million euros with a total of 1697 employees. The company’s base is formed by the internationally renowned premium brands granini and Pago, as well as strong national and regional juice brands such as hohes C, Joker and God Morgon. Consumers in 80 countries around the world, and especially in Europe, know and appreciate our fruit juices and the variety of fruit drinks.

Sopheon (LON: SPE) partners with customers to provide comprehensive enterprise innovation management solutions, including software, expertise and best practices, to achieve revenue growth and exceptional long-term profitability. Sopheon’s Accolade solution provides single, fully integrated coverage for the entire innovation management and new product development lifecycle, including strategic innovation planning, roadmap, development of ideas and concepts, process and project management, portfolio management and resource planning. Sopheon’s solutions have been implemented by over 250 customers with over 60,000 users in over 50 countries. Sopheon is listed on the AIM market of the London Stock Exchange.
Sopheon and Accolade are registered trademarks of Sopheon plc.

Media Contacts

Eckes-Granini Group GmbH
Thomas Graf

Chloe Shoobridge


CHICAGO, July 25, 2022 /PRNewswire/ — Conagra Brands, Inc. (NYSE: CAG), one of North America leading branded food companies, today announced the appointment of Denise A. Paulonis to its Board of Directors, effective August 1, 2022. With this addition, Conagra Brands’ Board of Directors will grow to 13 members.

“We are delighted to welcome Denise to the Conagra Brands Board of Directors,” said Richard H. Lenny, President of Conagra Brands. “Conagra and our shareholders will benefit from Denise’s extensive leadership experience in growth, supply chain innovation, e-commerce capabilities and product innovation in the consumer products market.”

Denise Paulonis said, “It’s an exciting time to be part of Conagra Brands. I look forward to working with the board and management team to help drive the growth and development of the company’s roster of iconic brands.

About Denise A. Paulonis
Denise A. Paulonis is President and Chief Executive Officer of Sally Beauty Holdings, Inc., an international specialty retailer and distributor of professional beauty products, where she leads the company’s growth program, drives the modernization of the sourcing, advances digital commerce capabilities and delivers product innovation to market. Prior to Sally Beauty, Ms. Paulonis served as Chief Financial Officer of Sprouts Farmers Market, Inc., Executive Vice President and Chief Financial Officer of the Michaels Companies, and held various leadership positions within the finance and investor relations functions of the Michaels Companies. , PepsiCo and Procter & Gamble.

About Conagra Brands
Conagra Brands, Inc. (NYSE: CAG), headquartered in Chicago, is one of North America’s leading branded food companies. Driven by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great meals with a sharp focus on innovation. The company’s portfolio is evolving to meet people’s changing food preferences. Conagra’s iconic brands, such as Birds Eye®by Marie Callender®banquets®Healthy choice®Slim Jim®Reddi-wip®and Vlasic®as well as emerging brands, including Angie’s® BOOMCHICKAPOP®duke®Earth Balance®Gardein®and Frontera®, offer choices for every occasion. For more information, visit

For more information please contact:
MEDIA: Dan Hare
[email protected]

INVESTORS: Melissa Napier
[email protected]

SOURCE Conagra Brands, Inc.

Ottoline Leyser of UK Research and Innovation: “If someone disagrees with you, that’s a fabulous thing” Sun, 24 Jul 2022 04:01:46 +0000

Ottoline Leyser, Regius Professor of Botany at the University of Cambridge, thinks we have valuable leadership lessons to learn from vegetables. Since her school days, Leyser has been “captivated” by the way plants grow and adapt to their environment – and struggles to understand why others might not be captivated.

Unlike genetically pre-programmed animals, which take generations to adapt, plants have to reinvent themselves every day. They grow towards the sun, decide the best time to germinate based on the weather, and try to resist predators, which is difficult when you’re rooted in place. “In a plant context, most development occurs post-embryonically, creating extraordinary flexibility in form,” she says.

Leyser, who was made a dame in 2017, smiles at the (unoriginal) suggestion that her academic obsession could have served as the perfect preparation for her current role as chief executive of UK Research and Innovation, the public agency tasked with distributing more of £8 billion. of research funding per year. Despite the government’s determination to make Britain a ‘scientific superpower’, the country’s research community faces uncertainty in the post-Brexit world and a possible ejection from the £95bn Horizon Europe science program euros. He had to adapt quickly.

Aware of the changing political and economic soil in which UKRI is embedded, Leyser is trying to develop an ambitious and decentralized approach to supporting impactful research and innovation. “I really like to think like a vegetable,” she says, in an interview at UKRI’s offices overlooking the River Thames in central London.

The 57-year-old professor was appointed chief executive of UKRI in 2020, taking on the agency’s mission to “seize the historic moment of national reinvention”. The public body was set up in 2018 to coordinate the efforts of seven research councils, spanning medicine, engineering, physical and biological sciences and humanities, as well as Research England and innovation agency Innovate UK .

Leyser says she was interested in applying for the position at the same time she was approached to apply. Its ambition is to help UKRI build a more diverse and interconnected research environment that will bring real value to the economy. His challenge is to persuade the heads of the nine councils who sit on UKRI’s executive committee to put their collective ambition above sectoral interests. “The incredible power of UKRI is that we have a portfolio of activities that produces all kinds of results,” she says.

Her previous role was running the Sainsbury’s Laboratory in Cambridge, which she described as her dream job. Founded in 2011 with an £82 million endowment from the Gatsby Charitable Foundation, the lab focuses on computational modeling of plant biology, with over 120 researchers. Leyser put into practice his belief that research stems more from community collaboration than solitary genius. “Research is essentially a collective enterprise,” she says.

The global response to the Covid-19 pandemic has made this point clear, argues Leyser, highlighting how it is possible to bridge the gap between science and society. Although traumatic for many people, the shared experience of the pandemic could still result in a “Covid dividend” in terms of increased appreciation of the value of collaborative research.

Vaccine development owes a lot to the work of individuals. But it also depended on the accumulated knowledge of previous scientists, the manufacturing expertise of companies, the adaptability of regulators, the dedication of the NHS and the massive participation of volunteers and citizens, who rolled up their sleeves to make sting.

“I think Covid is creating a window of opportunity,” she says. “There has been a massive shared national effort to help us through the pandemic. That’s why this separation of R&D as something smart people do is so problematic. »

In his view, too much emphasis has been placed on too narrow a set of measures, such as citations in prestigious publications. This tends to nudge searchers toward predictable research and encourages compliance. Its purpose is to provide more “psychological safety” for researchers to take risks. “If someone disagrees with you, that’s a fabulous thing. We need a system that values ​​differences,” she says.

While acknowledging the importance of metrics, Leyser argues that they need to be interpreted in a broader societal context given the complex relationship between inputs and outputs in scientific research. “We need to support people who take these amazing intellectual risks. But the way our incentive systems work in research undermines that risk-taking instead of supporting it.

Naturally, Leyser welcomes the government’s commitment to increase funding for scientific research and the opportunity to rethink the way it is conducted. Over the next three years, the government has pledged to increase UKRI’s research budget by 14% to £8.9 billion. The organization’s four-pronged strategy is to promote people, places, ideas and innovation. The aim is to make the UK the most attractive destination for researchers, build world-class institutions and infrastructure, seize opportunities from emerging research trends and build high-growth business sectors of the future.

As admirable as these ambitions are, they will ring hollow with many UK researchers facing the harsh realities of Brexit and financial restrictions. Like the majority of British scientists, Leyser voted Remain in the 2016 referendum on EU membership. She still hopes it will be possible for Britain to continue to be part of the EU’s Horizon research programme, which is the “best option” to allow researchers to stay connected to a pan-European network. But if Britain loses that association, she says, then UKRI will have to work even harder to establish global collaboration.

Leyser also stresses the need for diversity. She encouraged more women to pursue scientific research. But she’s also aware of the need to find people with smart ideas from unconventional backgrounds. She hopes the newly created Advanced Research and Innovation Agency (Aria), a separately funded high-risk, high-reward research agency, can help unearth unconventional innovators. “For me, the fundamental question is to create a culture that loves difference,” she says.

Three questions to Ottoline Leyser

Who is your leadership hero?

I have been fortunate to work with many great leaders over the years and learned a lot from each of them, but I will choose my mother as my leadership heroine. She hasn’t held positions that most people would consider leadership, but that’s the point. Leadership is not about titles or telling people what to do. It’s about understanding what needs to be done and working to make sure it happens.

What was the first leadership lesson you learned?

It is very common to make totally unfounded assumptions about what can and cannot be changed. Zooming out to question assumptions and consider all options can be transformative.

What would you do if you weren’t CEO?

The UK has cutting-edge research and innovation, but we are not reaping the full benefits, neither economically nor socially. Our research and innovation system is too fragmented. If I weren’t doing my current job, I’d be trying to tackle one of the most problematic barriers – between science, at large, and society at large. This requires changing the way we all think about science, perhaps changing the way science is cataloged in the media, in curricula, or in cultural institutions such as museums and libraries.

Although her original appointee stepped down earlier this year, Aria announced last week that she had named Ilan Gur as her first chief executive. Gur is the founder of Activate, a US-based nonprofit that has helped scientists launch over 100 start-ups.

In a Women in Science lecture given at Durham University in 2018, titled The Joy of Being Wrong, Leyser quoted Albert Einstein: “If we knew what we were doing, it wouldn’t be called research. Naturally, Leyser added, such uncertainty made people uncomfortable. But being comfortable with uncertainty was a prerequisite for advancing science. “High-quality research depends on our ability to find ways to embrace the unknown and enjoy being wrong.”

Leyser’s approach has already won supporters. “I am excited about his vision of what research and innovation can be in this country,” says Suranga Chandratillake, venture capitalist at Balderton. “She has a global vision that innovation should become relevant for everyone.”

Yet Leyser’s vision of a collaborative, high-risk, long-term approach to scientific research appears to be the reverse of political practice in Britain, which often feeds on division, aversion to risk and short term. Scientists and politicians tend to operate on different agendas, priorities and clocks.

Leyser acknowledges the stark differences between the two worlds, but is enough of a politician herself to make sure she doesn’t stray from the government’s message. She can agree with the provocation that politicians aren’t as interesting as vegetables. “But the people are still very interesting,” she laughs.

Before the politicians get offended, it’s worth pointing out that, in Leyser’s world, very few subjects are as captivating – or instructive – as plants.