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— September 2020 —


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September 17, 2020

University of Oxford Resumes Vaccine Trial

Oxford University

Oxford, September 16, 2020 —The University of Oxford has announced that the ongoing randomized controlled clinical trials of the Oxford coronavirus vaccine ChAdOx1 nCoV-19 have resumed across all UK clinical trial sites.

“Globally, some 18,000 individuals have received study vaccines as part of the trial. In large trials such as this, it is expected that some participants will become unwell, and every case must be carefully evaluated to ensure careful assessment of safety,” the university said.

“On Sunday [06/09/2020], our standard review process triggered a study-pause to vaccination across all of our global trials to allow the review of safety data by an independent safety review committee and the national regulators. All routine follow-up appointments continued as usual during this period.

“The independent review process has concluded, and following the recommendations of both the independent safety review committee and the UK regulator, the MHRA, the trials will recommence in the UK.

“We cannot disclose medical information about the illness for reasons of participant confidentiality.

We are committed to our participants’ safety and the highest standards of conduct in our studies and will continue to monitor safety closely,” Oxford University stated.

Brazilian trial of Oxford vaccine resumes.

On Saturday [September 12], the Brazilian National Health Surveillance Agency (Anvisa) and the National Council for Research Ethics (Conep) informed the Federal University of São Paulo that all centers participating in the study in Brazil could resume vaccination of volunteers from Monday [September 14]. The Federal University of São Paulo coordinates the clinical research of the Oxford coronavirus vaccine ChAdOx1 nCoV-19 in partnership with Oxford University.

In Brazil, 4,600 volunteers have already been recruited from São Paulo, Rio de Janeiro, and Salvador.

Serum Institute of India to Resume Clinical Trial Of Oxford Covid-19 Vaccine.

The Serum Institute of India has received approval from the Drugs Controller General of India (DCGI) to resume the clinical trial of the Oxford COVID-19 vaccine candidate, officials from the drug manufacturing company confirmed on Wednesday.

The Serum Institute of India is the manufacturing partner of the vaccine candidate named Covishield, developed jointly by the University of Oxford’s Jenner Institute and AstraZeneca.

The Pune-based firm has selected 17 sites in India to conduct the trial. A total of 1,600 candidates will take part in the study.

The selected sites include —

Sources: The University of Oxford. Serum Institute of India.

|GlobalGiants.Com|


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Edited & Posted by the Editor | 3:31 AM | View the original post





September 16, 2020

ACADEMY REVEALS 2020 STUDENT ACADEMY AWARD WINNERS

Student Academy Awards

Photo: Narrative film winners Hua Tong (left), Brian Robau (center), and Kelley Kali before the 45th Annual Student Academy Awards on Thursday, October 11, 2018, in Beverly Hills, CA. Image provided by & copyright © Richard Harbaugh / A.M.P.A.S. [File Photo]


LOS ANGELES, CA - The Academy of Motion Picture Arts and Sciences has voted 18 students as winners of the 47th Student Academy Awards competition. This year, the Student Academy Awards competition received 1,474 entries from 207 domestic and 121 international colleges and universities. The 2020 winners join the ranks of such past Student Academy Award winners as Patricia Cardoso, Pete Docter, Cary Fukunaga, Spike Lee, Trey Parker, Patricia Riggen, and Robert Zemeckis.

The winners are (listed alphabetically by category):

Alternative/Experimental (Domestic and International Film Schools)

Animation (Domestic Film Schools)

Animation (International Film Schools)

Documentary (Domestic Film Schools)

Documentary (International Film Schools)

Narrative (Domestic Film Schools)

Narrative (International Film Schools)

First-time honors go to Baltic Film & Media School, Tallinn University, Estonia, and Institut des Arts de Diffusion, Belgium.

All Student Academy Award-winning films are eligible to compete for 2020 Oscars in the Animated Short Film, Live Action Short Film, or Documentary Short Subject category. Past winners have gone on to receive 64 Oscar nominations and have won or shared 13 awards. The medal placements - gold, silver, and bronze - in the seven award categories will be revealed in a virtual program highlighting the winners and their films on Wednesday, October 21.

The Student Academy Awards were established in 1972 to provide a platform for emerging global talent by creating opportunities to showcase their work.

Source: The Academy of Motion Picture Arts and Sciences

|GlobalGiants.Com|


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Edited & Posted by the Editor | 9:41 AM | View the original post





Hindustan Unilever's Boost expands its footprint in India

The brand to enter the Western, Northern, and Eastern regions of the country.

Hindustan Unilever Boost

GURUGRAM AND MUMBAI, India, Sept. 15, 2020 — Hindustan Unilever Limited (HUL) today announced the expansion of Boost, one of India’s leading nourishing beverages in chocolate flavor, into the Western, Northern, and Eastern regions of the country. An iconic brand, Boost is widely enjoyed by kids given its ‘Great Taste’ of chocolate, the benefit of 3X stamina and energy under a formulation consisting of 17 essential nutrients, and legacy of association with leading Indian sports personalities.

The market expansion reaffirms and further supports the brand’s purpose of unleashing the winner in kids across India. The brand narrative, ‘Play A Bigger Game,’ which goes beyond the motivation to tackle everyday challenges and aims to enable kids to take on the more prominent and more formidable opponents in the real world, will drive the geographic growth, Hindustan Unilever Limited (HUL) explained.

According to Krishnan Sundaram, Vice President, Integration and Business Head, ‎HUL, “Boost has a long-standing legacy in the southern market, and we are excited to be taking this journey forward across all regions of the Indian households. There is a tremendous market opportunity in the milk-rich regions for Boost to establish and eventually lead the category. We are looking forward to embarking on a successful journey for Boost pan India.”

As a part of the comprehensive communication outreach, the much-loved TVC with Indian Cricketer Virat Kohli preparing a young kid to #PlayABiggerGame in his unique style will be on air across regional and national media in Hindi and Marathi. The brand will also continue to convey its purpose of unleashing the winner in kids through its platform, Boostcamp.com, a website democratizing cricket learning, where aspiring kids can learn the skill in various aspects of the game directly from the champions.

Boost will be available in stores and leading e-commerce platforms pan India, HUL announced.

Hindustan Unilever Limited (HUL) is India’s largest Fast-Moving Consumer Goods company with its products touching the lives of nine out of ten households in the country. HUL says it works to create a better future every day.

Source: Hindustan Unilever Limited (HUL)

|GlobalGiants.Com|


Boost Energy — When you have 3X more stamina, no challenge is big enough. Watch how a young talented boy gives Virat a tough time #PlayABiggerGame.


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Edited & Posted by the Editor | 9:41 AM | View the original post





September 15, 2020

Chandigarh University bags Overall Diamond Rating in the prestigious QS I-Gauge 2020 Indian Universities Rating.

Chandigarh University ranks amongst the top 20 elite Educational Institutions of India and becomes Punjab’s first University to get placed in the prestigious ratings.

QS I-Gauge Rating India

CHANDIGARH, India, Sept. 15, 2020 — QS I-Gauge Rating agency has released the 2020 version of the prestigious ratings of India’s top and elite Universities and Institutions. Chandigarh University Gharuan has managed to barge in Top 20 Educational Institutions of India Ratings with Overall Diamond Rating. Besides, Chandigarh University has emerged as top University (First Position) in Innovation parameter, which recognizes the institution as the Best Research University in India. QS I-Gauge, Indian Universities Ratings are part of the World Universities Rankings and Ratings released every year by the prestigious Quacquarelli Symonds (QS) in-depth analysis of higher education institutions around the world.

“This year, about 20 Indian Universities and Institutes have bagged Diamond Rating. Chandigarh University has become the Youngest University of India and the first University of Punjab to be placed amongst India’s top 20 elite educational institutes,” said Chandigarh University Chancellor, Satnam Sandhu. “Besides, Chandigarh University has become the only University of North India to bag Diamond Rating in 7 parameters which included Teaching & Learning, Faculty Quality, Employability, Student Diversity, Infrastructure Facilities, Social Responsibility, and Innovations.” Dr. S.S. Sehgal, Registrar, Chandigarh University, was also present during the media interaction.

“The 2020 edition of QS I-Gauge Ratings has placed 20 Indian Universities or Institutions in the Diamond Ratings while there are 32 Educational Institutions with Gold Ratings and 10 Institutions with Silver Ratings,” added Mr. Sandhu. Earlier in 2019, Chandigarh University had become the youngest University of the country to get an A+ Grade in its first cycle by the National Assessment and Accreditation Council (NAAC). “Students are the major beneficiary of the prestigious rankings and ratings of Universities by National & International Rating Agencies as it opens new avenues for them,” said Dr. S.S. Sehgal, Registrar, Chandigarh University.

“Chandigarh University has managed to scale new heights in National Ranking and Ratings within a short span of its existence as it has been able to perform in every sphere of higher education. In the research domain, Chandigarh University was ranked All India 2nd and first in the Stand-alone University category for filing the highest number of patents 334 in a year for 2018-19. The Office of Controller General of Patent Designs and Trademarks, Government of India had released this rating,” Dr. Sehgal added.

Chandigarh University, located near Chandigarh in Punjab, is the youngest University in India and the only private University in Punjab to be honored with an A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, and commerce.

Source: Chandigarh University

|GlobalGiants.Com|


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Edited & Posted by the Editor | 1:13 PM | View the original post





September 14, 2020

U.S. News & World Report Announces the 2021 Best Colleges Rankings for the USA

The New edition ranks test-blind schools and includes measures of student debt at graduation.

U.S. News & World Report

U.S. News & World Report, Princeton University

Photo: Princeton University Campus. Image credit: MaxVT.


WASHINGTON, Sept. 14, 2020 — U.S. News & World Report today unveiled the 2021 U.S. News Best Colleges in the USA. U.S. News said it remains committed to providing data-driven information and guidance to help prospective students and their families understand their higher education options as students and schools across the nation grapple with the coronavirus pandemic’s impacts.

“The pandemic has affected students across the country, canceling commencement ceremonies and switching classes from in-person to remote,” said Kim Castro, editor, and chief content officer of U.S. News. “Whether students have slightly altered their college plans or changed them entirely, it remains our mission to continue providing students and their families with the tools they need to help find the right school for them.”

This year’s edition includes several updates to the Best Colleges methodology that addresses essential issues directly impacting students and their families. These new measures look at timely topics such as student debt, social mobility, and test-blind admissions policies.

For the 2021 rankings, Princeton University is once again No. 1 among National Universities, and Williams College remains in the top spot among National Liberal Arts Colleges. For Top Public Schools, the University of California—Los Angeles is No. 1 among National Universities. The United States Naval Academy ranks No. 1 for Top Public Schools among National Liberal Arts Colleges.

This 36th edition of Best Colleges evaluates more than 1,400 colleges and universities on 17 academic quality indicators. The data used in the 2021 Best Colleges rankings pertain to student and faculty cohorts that predate the pandemic.

2021 U.S. News & World Report Best Colleges

National Universities - Top 10

  1. Princeton University (N.J.)
  2. Harvard University (M.A.)
  3. Columbia University (N.Y.)
  4. Massachusetts Institute of Technology, Cambridge, (M.A.)
  5. Yale University, New Haven, (C.T.)
  6. Stanford University, Stanford, (C.A.)
  7. University of Chicago, Chicago, (I.L.)
  8. University of Pennsylvania, Philadelphia, (P.A.)
  9. California Institute of Technology, Pasadena, (C.A.)
  10. Johns Hopkins University, Baltimore, (M.D.)

National Liberal Arts Colleges - Top 3

  1. Williams College (M.A.)
  2. Amherst College (M.A.)
  3. Swarthmore College (P.A.)

Top Public Schools

National Universities - Top 3

  1. University of California—Los Angeles
  2. University of California—Berkeley
  3. University of Michigan—Ann Arbor

National Liberal Arts Colleges - Top 3

  1. United States Naval Academy (M.D.)
  2. United States Military Academy (N.Y.)
  3. The United States Air Force Academy (C.O.)

Top Performers on Social Mobility

National Universities - Top 3

  1. University of California—Riverside
  2. University of California—Irvine
  3. Rutgers University—Newark (N.J.)

National Liberal Arts Colleges - Top 3

  1. College of Idaho
  2. Lake Forest College (I.L.)
  3. Thomas Aquinas College (CA)

U.S. News & World Report is a leader in quality rankings that empower people to make better, more informed decisions about important issues affecting their lives. Founded in 1933, U.S. News has its headquarters in Washington, D.C.

SOURCE: U.S. News & World Report

|GlobalGiants.Com|


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Edited & Posted by the Editor | 2:51 PM | View the original post





September 13, 2020

Third Annual Bloomberg New Economy Forum to Virtually Convene this November, Calling on Global Business and Government Leaders to Shape 'Our New Economy' in a Post-COVID World

Bloomberg Media

Bloomberg Media

Photo: Francine Lacqua, Editor-at-Large, and Presenter, Bloomberg Television, the United Kingdom, captured during the Session “Taking Action for the Ocean” at the Annual Meeting 2019 of the World Economic Forum in Davos, January 23, 2019. Image provided by & copyright © World Economic Forum / Sikarin Fon Thanachaiary.


NEW YORK, September 12, 2020 — Bloomberg Media today announced that the Bloomberg New Economy Forum would hold a virtual, global convening on November 16-19, 2020. For four days and spanning multiple time zones, influential business executives, technology innovators, academics, and government leaders will come together. It would be a collaborative effort between East and West, public and private sectors, developed and developing nations, for designing a more inclusive and sustainable future for all. The 2020 forum is a unique opportunity to drive a constructive global dialogue around the challenges and solutions that will shape “Our New Economy”: a new economic plan that puts the world’s most vulnerable people first.

Forces and trends upending the global economy have accelerated in the wake of Covid-19. The pandemic has exposed the connection between inequality and public health, while the fractured state of today’s geopolitics has hindered efforts at a global response. Governments pour trillions of dollars into the stimulus. That spending could either prop up polluting industries or green fund initiatives, fuel asset bubbles or improve livelihoods in the real economy, spur “medical nationalism” or cross-border collaboration, widen urban disparities, or increase equitable development. Leaders from all geographies must come together to engage in meaningful discourse on how best to emerge from this global crisis, Bloomberg Media stated.

“The coronavirus pandemic is an enormous global challenge that requires cooperation across borders and between the public and private sectors,” said Michael R. Bloomberg, Founder of Bloomberg L.P. and Bloomberg Philanthropies, and Three-Term Mayor of New York City. “If we act wisely, our response to this crisis can also help us address many of the other major challenges facing our world - from climate change and pollution to racial inequity and injustice. The more we work together, the stronger we’ll emerge from the pandemic, and the brighter the future will be - and that’s what the New Economy Forum is all about. It’s an opportunity to bring together leaders to share ideas and build support for policies and partnerships that have the potential to help lift our world back up - and move us all forward.”

Launched in Singapore in 2018, the Bloomberg New Economic Forum is a global convening platform to address the most urgent disruptions facing our planet due to the massive economic transitions already underway. In 2019 the forum was held in Beijing, as more than 500 public and private sector leaders from 45 countries worldwide came together for an unprecedented open exchange of ideas. The 2020 virtual convening will feature town hall meetings and thought-provoking plenaries and breakouts and bilateral meetings to advance a practical agenda for recovery across five core topic areas: finance, trade, climate, health, and cities.

To advance this effort, Bloomberg New Economy will welcome several new Advisory Board members and participants to the 2020 forum, including:

With Dr. Henry A. Kissinger as Honorary Chair and Henry M. Paulson, Jr. as Chair, the Bloomberg New Economy Forum Advisory Board comprises more than 50 distinguished government and business leaders, including

Bloomberg Media is presenting the New Economy Forum in partnership with:

McKinsey and Company is the exclusive Knowledge Partner.

For the first time, the Bloomberg New Economic Forum will invite widespread participation with many live-streamed, interactive sessions to elevate a range of voices and drive deeper engagement across all sectors and regions.

Bloomberg Media is a leading, global, multi-platform brand that provides decision-makers with timely news, analysis, and intelligence on business, finance, technology, climate change, politics, etc. Powered by a newsroom of over 2,700 journalists and analysts, it reaches influential audiences worldwide across every platform, including digital, social, TV, radio, print, and live events. Bloomberg Media is a division of Bloomberg L.P.

Source: Bloomberg Media

|GlobalGiants.Com|


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Edited & Posted by the Editor | 8:07 AM | View the original post





United Nations General Assembly Holds 64th Plenary Meeting.

United Nations General Assembly

Photo: The UN General Assembly votes on draft resolution A/74/L.92 under agenda item 14 entitled “Comprehensive and coordinated response to the coronavirus (COVID-19) pandemic”. At the dais is Tijjani Muhammad-Bande (left), President of the seventy-fourth session of the United Nations General Assembly, and Kenji Nakano, Chief of the General Assembly Affairs Branch, Department for General Assembly and Conference Management (DGACM). 11 September 2020. United Nations, New York. UN Photo/Eskinder Debebe.

United Nations General Assembly

Photo: A broad view of the UN General Assembly Hall as Tijjani Muhammad-Bande (left at the dais and on screens), President of the seventy-fourth session of the United Nations General Assembly, chairs the 64th plenary meeting of the 74th session of the General Assembly. The meeting took action on draft resolutions A/74/L.91 on Malaria and A/74/L.92 on a comprehensive and coordinated response to the coronavirus (COVID-19) pandemic. 11 September 2020. United Nations, New York. UN Photo/Eskinder Debebe.

United Nations

Photo: UN Secretary-General António Guterres addresses the General Assembly’s virtual informal meeting on the Report of the Secretary-General on the Review of the Peacebuilding Architecture. 11 September 2020. New York, United States of America. UN Photo / Loey Felipe.

Source: United Nations, New York

|GlobalGiants.Com|


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Edited & Posted by the Editor | 4:25 AM | View the original post





September 12, 2020

Tata Consultancy Services (TCS) Wins 2020 Gartner Communications Award.

Tata Consultancy Services Won the Award for Excellence in Building a Corporate Brand, for its Customer-centric Campaign, Digital Transformation with Business 4.0™

Tata Consultancy Services

Tata Consultancy Services

Photo: Natarajan Chandrasekaran, Chief Executive Officer, and Managing Director, Tata Consultancy Services, India; Mentor of the World Economic Forum Annual Meeting of the New Champions 2014 in Tianjin, People’s Republic of China 2014. Image provided by & copyright © World Economic Forum / Ciaran McCrickard.


New York & Mumbai, India, Sept. 10, 2020 — Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting, and business solutions organization, has won the 2020 Gartner Communications Award in the category Excellence in Building a Corporate Brand for its campaign Digital Transformation with Business 4.0™.

The Gartner Communications Awards support and showcase the great work of communicators who have achieved real, measurable business outcomes in their organizations. TCS’ Business 4.0 campaign was chosen from among 200 entries from organizations across 30 countries. It was recognized for defining a truly unique, differentiated brand that fulfills stakeholder needs, building a brand connection with external audiences, helping employees fulfill the brand promise, and measuring the corporate brand’s impact on employees and other audiences.

TCS launched the Business 4.0 thought leadership framework to provide enterprises a roadmap for their digital transformation. The framework identified four winning behaviors for success in the Business 4.0 world: Driving mass personalization, creating exponential value, leveraging ecosystems, and embracing risk, all accomplished by harnessing the power of new technologies such as the cloud, internet of things, analytics, automation, robotics, and artificial intelligence.

“The judges loved this company’s approach to raising brand awareness through the eyes of their customers and making customers the hero of that story. Their multi-phased layered effort involved brand ambassadors and several kinds of channels and storytelling approaches. And they sealed the deal with very impressive metrics which pointed to clear impact on business performance,” said Dorian Cundick, VP, Advisory, Gartner.

“We are delighted to receive this recognition from the expert jury. To showcase how our Business 4.0 thought leadership framework helps enterprises draw up their digital transformation roadmaps, we leveraged storytelling as a powerful tool. We got our customers to narrate their individual growth and transformation journeys. The outcome was a very effective communication of how our framework works in real life and differentiated positioning for TCS. The large number of market-defining transformational engagements we have entered into in the last couple of years is a strong validation of that strategy,” said Rajashree R, Chief Marketing Officer, TCS.

This latest recognition follows a host of awards won by TCS this year to date for its marketing and communications efforts, including a Gold Stevie in the category Mobile Marketing Campaign of the Year and a Silver Stevie in the category Best User Experience at the 2020 American Business Awards®. Additionally, TCS was recognized by Brand Finance as the fastest-growing brand of the decade by brand value, and among the Top 3 brands in IT services globally.

Tata Consultancy Services is an IT services, consulting, and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology, and engineering services and solutions. These services and solutions are delivered through TCS’s unique Location Independent AgileTM delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India’s largest multinational business group, TCS has over 443,000 of the world’s best-trained consultants in 46 countries.

Source: Tata Consultancy Services

|GlobalGiants.Com|


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Edited & Posted by the Editor | 8:07 AM | View the original post





September 11, 2020

CBS News President Susan Zirinsky to accept 2020 National Press Club Fourth Estate Award at November 18 Gala.

National Press Club

Photo: CBS News President Susan Zirinsky to accept 2020 National Press Club Fourth Estate Award at November 18 Gala.


WASHINGTON, September 10, 2020 — Susan Zirinsky, president and senior executive producer of CBS News, will receive the National Press Club’s most esteemed prize, the Fourth Estate Award, at a Press Club gala in her honor on November 18, 2020, in Washington, D.C.

Zirinsky is the 48th recipient of the award, which recognizes journalists who have made significant contributions to the field.

“Susan Zirinsky is the personification of journalistic perseverance, tenacity, and integrity,” said National Press Club President Michael Freedman. “Like the best of those before her at the network of Edward R. Murrow and Walter Cronkite, Susan leads by example, displaying the courage of her convictions and making a positive difference - at CBS News and throughout the profession. She is a role model for women and everyone who is dedicated to journalistic ethics and excellence. We are proud to honor her achievements - and that’s the way it is!”

The Fourth Estate Award is the top honor bestowed on a journalist by the National Press Club Board of Governors. The first recipient was Walter Cronkite in 1973. Other previous winners include Amanda Bennett, Marty Baron, Dean Baquet, Wolf Blitzer, Gwen Ifill, Marvin Kalb, Andrea Mitchell, Bob Woodward, Jim Lehrer, Christiane Amanpour, and David Broder. The gala dinner is a fundraiser for the Club’s nonprofit affiliate, the National Press Club Journalism Institute, which promotes an engaged global citizenry through an independent and free press, and equips journalists with skills and standards to inform the public in ways that inspire civic engagement.

Susan Zirinsky began her career in 1972 as a part-time desk assistant in the CBS News Washington bureau two weeks after the Watergate break-in. Still completing her undergraduate degree at American University at the time, she was surrounded by the legendary CBS News reporting team led by Walter Cronkite that dominated Watergate coverage on television.

Quickly rising through the ranks, Zirinsky became an associate producer for “The CBS Morning News” and then a producer on “The CBS Evening News with Walter Cronkite.” In that role, she became a White House producer and spent a decade covering the Jimmy Carter and Ronald Reagan presidencies. She traveled with them throughout the world, where she produced reports with Lesley Stahl, Ed Bradley, Bob Schieffer, and Bill Plante for various broadcasts. She was promoted in 1987 to a senior producer for the “CBS Evening News with Dan Rather” in Washington.

In a celebrated career spanning four decades, Zirinsky has produced a wide variety of award-winning documentaries and programs. She covered a range of historical stories, from the Gulf War to the student uprising in Tiananmen Square, from the White House for ten years to the 9/11 attacks, and from the Paris terrorist attacks to the mass shooting at a Parkland, Fla. School. Her work has garnered many of journalism’s top honors, including multiple Emmys, the Alfred I. DuPont-Columbia University Award, and the George Foster Peabody Award.

Zirinsky took the helm of CBS News as President and Senior Executive Producer on March 1, 2019. In her first nine months on the job, Zirinsky oversaw an overhaul of the news division, including the launch of “The CBS Evening News with Norah O’Donnell,” and the move of the broadcast to Washington, D.C.

Founded in 1908, the National Press Club is the World’s Leading Professional Organization for Journalists™. Located three blocks from the White House, the Club represents more than 3,000 reporters, editors, and communicators worldwide.

Source: National Press Club

|GlobalGiants.Com|

— The Chief Editor is a Member of the National Press Club since 2011.


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Edited & Posted by the Editor | 2:16 AM | View the original post





September 10, 2020

Mastercard Launches Central Bank Digital Currencies (CBDCs) Testing Platform, Enabling Central Banks to Assess and Explore National Digital Currencies.

The innovative virtual and custom testing platform allows central banks to evaluate use cases and test roll-out strategies for CBDCs by simulating a CBDC ecosystem.

Central banks, commercial banks, and tech and advisory firms are invited to partner with Mastercard to evaluate the suitability of CBDCs in a country or region.

Mastercard

Photo: Mastercard Launches Central Bank Digital Currencies (CBDCs) Testing Platform.


Purchase, NY | September 9, 2020 — With the global economy racing to embrace digital payments, central banks also are looking to the future and investigating how to support innovation while maintaining monetary policy and financial stability as they issue and distribute currency. According to a recent survey by the Bank for International Settlements, 80 percent of central banks surveyed engage in Central Bank Digital Currencies (CBDCs) work. About 40 percent of central banks have progressed from conceptual research to experimenting with concept and design.

Today, Mastercard announced a proprietary virtual testing environment for central banks to evaluate CBDC use cases. The platform enables the simulation of issuance, distribution, and exchange of CBDCs between banks, financial service providers, and consumers. Mastercard invites Central banks, commercial banks, and tech and advisory firms to partner with it to assess CBDC tech designs, validate use cases and evaluate interoperability with existing payment rails available for consumers and businesses today.

Mastercard says that it is a leader in operating multiple payment rails and convening partners to ensure a level playing field for everyone - from banks to businesses to mobile network operators - to bring the most people into the digital economy. Mastercard said it wants to harness its expertise to enable the practical, safe, and secure digital currencies development.

“Central banks have accelerated their exploration of digital currencies with a variety of objectives, from fostering financial inclusion to modernizing the payments ecosystem,” said Raj Dhamodharan, Executive Vice President, Digital Asset, and Blockchain Products and Partnerships, Mastercard. “Mastercard is driving innovation with the public sector, banks, fintech, and advisory firms in the exploration of CBDCs, working with partners that are aligned to our core values and principles. This new platform supports central banks as they make decisions now and in the future about the path forward for local and regional economies,” Dhamodharan added.

Mastercard explained that CBDCs are equivalent in value to a nation’s paper currency and subject to the same government-backed guarantees. In addition to printing money, central banks can issue CBDCs as a digital representation of a country’s fiat currency.

Driving Scalable Innovation

While various potential operating models exist, the primary approach sees central banks issuing and distributing currency, including digital currencies, through commercial banks and other licensed payment providers. Mastercard said it understands every central bank differs in its exploration of CBDCs, and the platform stands ready to explore whether CBDCs fit with the needs of a region or country. The virtual platform can be individually customized to the central bank’s environment, allowing them to:

Central Bank Digital Currencies of the Future

“Mastercard is committed to supporting central banks in their chosen path to modernize payments as they look for solutions that seamlessly integrate with existing ways to pay. The company is committed to forging partnerships between public and private sectors to transform the way people and businesses transact,” Mastercard concluded.

Source: Mastercard

|GlobalGiants.Com|


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Edited & Posted by the Editor | 4:58 AM | View the original post





September 9, 2020

The third UNESCO Creative Cities Summit in Beijing to focus on Creativity and Technology.

UNESCO Creative Cities, Rome

Photo: St. Peters Basilica, Rome, Italy. Image credit: Rory Haddon. Rome is a UNESCO Creative City of Film.


UNESCO Creative Cities, Mumbai

Photo: Mumbai, India. Image credit: Ronald Woan. Mumbai is a UNESCO Creative City of Film.


UNESCO Creative Cities, Sydney

Photo: Sydney Harbour Bridge, Sydney, Australia. Image credit: Carlos Y. Sydney is a UNESCO Creative City of Film.


The third edition of the UNESCO Creative Cities Summit in Beijing is taking place on 17 and 18 September 2020, under the theme ‘Creativity empowers Cities, Technology creates the Future’.

The Summit is being convened by UNESCO, Paris, in cooperation with the Ministry of Education of the People’s Republic of China, the People’s Government of Beijing Municipality, the National Commission of the People’s Republic of China for UNESCO, and the Beijing Municipal Science and Technology Commission.

The event will gather a diverse set of urban stakeholders, including Mayors and city policymakers from UNESCO Creative Cities, high-level representatives from intergovernmental organizations, academics, experts, and private sector representatives.

While aiming to build on innovation and new technologies, the Summit will prioritize the human factor in sustainable urban development. This approach is in line with UNESCO’s cross-cutting approach to cities and urban development, and reflects contemporary challenges and urban complexity created by the COVID-19 pandemic.

With a specific focus on the digital economy, the 3rd Beijing Summit will launch the latest UNESCO e-publication entitled ‘UNESCO Creative Cities’ Response to COVID-19’. The publication showcases the various initiatives undertaken by Creative Cities worldwide that have leveraged the power of culture and creativity in response to the COVID-19 pandemic.

Given the ongoing pandemic, this year’s edition will follow a hybrid format, combining physical presence for representatives within the People’s Republic of China and online participation for speakers based in other countries.

The meeting will be broadcast live with simultaneous English and Chinese (also in French for the Opening Ceremony) languages.

The UNESCO Creative Cities Network (UCCN) was created in 2004 to promote cooperation with and among cities that have identified creativity as a strategic factor for sustainable urban development. The 246 cities which currently make up this network work together towards a common objective: placing creativity and cultural industries at the heart of their development plans at the local level and cooperating actively at the international level.

The Network covers seven creative fields: Crafts and Folk Arts, Media Arts, Film, Design, Gastronomy, Literature, and Music.

The Creative Cities Network is a privileged part of UNESCO, not only as a platform for reflection on the role of creativity as a lever for sustainable development but also as a breeding ground of action and innovation.

Source: UNESCO

|GlobalGiants.Com|

— GlobalGiants.Com and its Chief Editor are contributors towards the enhancement of the UNESCO Creative Cities Network.


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Edited & Posted by the Editor | 10:00 AM | View the original post





September 8, 2020

Toyota Celebrates Launch of New GR Yaris in Japan with a Virtual Event.

TOYOTA

Toyota

Toyota

Toyota

Toyota

Photo: The New Toyota GR Yaris. Images provided by Toyota Motor Corporation.


Toyota City, Japan, September 8, 2020 ― Toyota launched the all-new GR Yaris in Japan.

Following the launch, TOYOTA GAZOO Racing announced that it would hold an event called the GR YARIS ONLINE FES, that will display virtual images of the GR Yaris to fans, starting September 16. This event will communicate the ideas incorporated in the development of the GR Yaris and its development story, together with information about the GR FACTORY. Additionally, in his role as Morizo master driver, President Akio Toyoda will drive the GR Yaris.

According to Toyota, anyone can drive the all-new GR Yaris the way he wants on any road in the world with the peace of mind. The reason for this is that it incorporates lessons learned from the TOYOTA GAZOO Racing World Rally Team (WRT), including how to make cars that are competitive in the WRC and learnings gleaned from evaluations given by non-Toyota professional drivers from the early stages of development.

Based on the desire of master driver Morizo to “restore the Toyota sports cars,” the new GR Yaris was created as the first Toyota vehicle developed with the reversed concept of turning a motorsports car into a production car.

Following are the main features of the new GR Yaris:

Source: Toyota Motor Corporation

|GlobalGiants.Com|


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Edited & Posted by the Editor | 2:32 PM | View the original post





September 7, 2020

Reebok Zig Kinetica Edge

Find Your Edge on and off the Trail with Energy Amplified.

Reebok

Reebok zig

Reebok Zig

Reebok zig

Reebok zig

Reebok has expanded its Zig Kinetica collection with the debut of the Zig Kinetica Edge. This reimagined version of Reebok’s Zig Kinetica takes the shoe’s signature street-style from the city to the mountains, paired with bold color and understated graphics.

The first drop of the Zig Kinetica Edge is part of Reebok’s Battle the Elements collection - a line created to meet your daily environment’s demands and battle the elements without sacrificing style. Reebok said each piece of the collection incorporates performance details with a lifestyle execution to provide the utmost level of versatility.

Key features of the Zig Kinetica Edge include:

Bringing to life Reebok’s latest Zig Kinetica release is a vibrant campaign by illustrator Cassandra Jean Piedra. Piedra’s illustrations are inspired by the experience between the city and the trail and show the incredible energy that graphics can create as an art form.

The Zig Kinetica Edge is available in two colorways - Black/Orange/Pink and Chalk/Black/Orange - in unisex sizes starting on September 9th.

Source: Reebok

|GlobalGiants.Com|


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Edited & Posted by the Editor | 3:52 AM | View the original post





September 6, 2020

The New Rolls-Royce Ghost

Rolls Royce Ghost

Rolls Royce Ghost

Rolls Royce Ghost

Photos: The New Rolls-Royce Ghost. Images provided by Rolls-Royce Motor Cars.


GOODWOOD, England, Sept. 5, 2020 — According to Rolls-Royce Motor Cars, following are the highlights of the New Rolls-Royce Ghost:

Source: Rolls-Royce Motor Cars

|GlobalGiants.Com|


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Edited & Posted by the Editor | 11:42 AM | View the original post





September 5, 2020

The Coca-Cola Company Announces Strategic Steps to Reorganize its Business for Future Growth

Company to Establish New Operating Units and Global Beverage Category Leads, Supported by New Platform Services Organization.

Coca-Cola

ATLANTA, September 5, 2020 - The Coca-Cola Company has announced strategic steps to reorganize and better enable the Coca-Cola system to pursue its Beverages for Life strategy. It would focus on a portfolio of drinks that can capture growth in a fast-changing marketplace.

The company is building a networked global organization, combining the power of scale with the in-depth knowledge required to win locally. The company will create new operating units focused on regional and local execution that will work closely with five marketing category leadership teams that span the globe to scale ideas rapidly.

This structure will be supported by the company’s newly created Platform Services organization, which will provide global services and enhanced expertise across critical capabilities.

“We have been on a multi-year journey to transform our organization,” said Chairman and CEO, James Quincey. “The changes in our operating model will shift our marketing to drive more growth and put execution closer to customers and consumers while prioritizing a portfolio of strong brands and a disciplined innovation framework. As we implement these changes, we’re continuing to evolve our organization, which will include significant changes in the structure of our workforce.”

Operating units

The company’s nine new operating units will help streamline the organization by replacing current business units and groups. The operating units will be highly interconnected, with more consistency in structure and a focus on eliminating duplication of resources and scaling new products more quickly.

The company’s current model includes 17 business units that sit under four geographical segments, plus Global Ventures and Bottling Investments. Moving forward, the operational side of the business will consist of nine operating units that will sit under four geographical segments, along with Global Ventures and Bottling Investments.

The company’s operating leaders will report to President and Chief Operating Officer Brian Smith.

Global category leads

Innovation, marketing efficiency, and effectiveness are top priorities for the company. The Coca-Cola Company conducts a portfolio rationalization process that will lead to a tailored collection of global, regional, and local brands with the potential for more remarkable growth. To drive these initiatives and support the operating units, the company reinforces and deepens its leadership in five global categories with the most substantial consumer opportunities:

The leaders of these categories will work across the networked organization to build its brand portfolio and win in the marketplace. Global category leads will report to Chief Marketing Officer Manolo Arroyo.

Platform Services

The company today announced the creation of Platform Services. This organization will work in the service of operating units, categories, and functions to create efficiencies and deliver capabilities at scale across the globe. It will include data management, consumer analytics, digital commerce, and social/digital hubs.

Platform Services would improve and scale functional expertise and provide consistent service, including governance and transactional work.

Aligning the company’s workforce to new priorities

The company’s structural changes will result in the reallocation of some people and resources, including voluntary and involuntary reductions in employees.

The Coca-Cola Company (NYSE: KO) is a total beverage company, offering over 500 brands in more than 200 countries and territories.

Source: The Coca-Cola Company

|GlobalGiants.Com|


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Edited & Posted by the Editor | 9:56 AM | View the original post





September 4, 2020

Mastercard Expands Installment Offerings through Global Partnerships; Empowers More Consumers to Choose When to Pay with Pre-Sale, Point of Sale, and Post-Sale Payment Options

Mastercard Payments

Photo: Payment by Card.


Purchase, NY. September 2, 2020 — The global pandemic is driving consumers to seek flexible payment options while issuers and merchants alike want to provide cardholders with choice, control, and simplicity at checkout. To address this, Mastercard today announced a new partnership with TSYS, a Global Payments company. The partnership will enable consumers to use their Mastercard to split transactions into installments before, during, or after checkout. Through this partnership, TSYS is the first processor to deliver installment capabilities to issuers to provide seamless payment experiences to its cardholders, enhancing Mastercard’s buy-now-pay-later ecosystem. This new partnership complements Mastercard’s comprehensive merchant offerings through API (Application Programming Interface) based solutions, commercial partnerships, and acquisitions worldwide.

“Adding the installment lending function to a bank card is suitable for all parties in the transaction. The consumer has a discrete transaction, separate from their general purchasing. Merchants get to close the sale, and similar to credit card usage, have an opportunity to upsell the customer. The issuing bank benefits with increased spending” says Brian Riley, director of the credit practice at Mercator Advisory Group.

Consumers Want Installment Options for Credit Card Purchases

According to Mastercard research, nearly three-quarters of consumers interested in installments prefer adding the feature to an existing card. The new partnership with TSYS will enable consumers in North America to use their Mastercard to split transactions into installments before, during, and after a purchase.

“This new collaboration with Mastercard gives our issuing clients the ability to offer best-in-class installment payment experiences to their cardholders. It enables consumers to choose when they want to pay,” said Gaylon Jowers, President, TSYS Issuer Solutions, and Senior Executive Vice President of Global Payments, Inc. “Our installment solution addresses the growing consumer demand for payment optionality, further solidifying our position as a leading provider of technology solutions worldwide.”

Mastercard Buy-Now-Pay-Later Suite of Offerings Delivers Consumer Choice

According to Mastercard research, three out of four Americans who have tried installment plans for the first time during the pandemic plan to continue using them after it is over. It indicates that the desire for solutions that empower consumers is paramount. The comprehensive suite of Mastercard buy-now-pay-later offerings include:

“Today’s consumer is looking for increased choice in how they manage their finances and spend while still demanding a seamless, secure checkout experience whether in-store or online,” said Jess Turner, Executive Vice President, North America Product and Innovation for Mastercard. “Our work with TSYS, in conjunction with our wider point-of-sale financing ecosystem partners, helps improve the consumer checkout experience and enables issuers and merchants to benefit from increased consumer acquisition, loyalty, and approval rates while decreasing cart abandonment.”

Financing Options at Checkout In-Store and Online drive Merchant Installment Offerings

Mastercard advanced its merchant-centric flexible financing capabilities with the acquisition of Vyze last year. With a recently expanded roster of lending partners, including Fly Now Pay Later and Quadpay, the company can connect merchants with multiple lenders, allowing merchants to offer their customers a wide range of financing options at checkout in-store and online. In the United States, Freemotion, a commercial fitness manufacturer, recently launched Vyze with its new equipment line to provide financing for consumers interested in purchasing at-home gyms and workouts during the pandemic. And through a partnership with buy now, pay later partner Jifiti, Mastercard accepting merchants in North America and Europe can offer instant financing to customers through a digital private label prepaid card at checkout.

Choice, Control, and Simplicity Around the World

As installments take hold across the globe, Mastercard is delivering customized, in-market solutions that meet the unique needs of shoppers in every region. It includes a global partnership with Splitit in multiple markets worldwide. This partnership would offer a scalable way to enable merchants to provide card installments at checkout and online. Further, it would work in Europe where Mastercard and Divido have partnered to provide instant access to credit through a paperless and omnichannel experience.

The Asia Pacific

In the Asia Pacific, Pine Labs and Mastercard collaborate to offer capabilities to South Asia, India, and Middle East markets, enabling 150,000 merchants across 450,000 network points to deliver an extensive range of cards and real-time payments-based installment options.

Mastercard is creating a future where payments keep pace with the way we live, work, and do business, accelerated by the rapid transition to digital solutions and offerings. As more people enter the financial mainstream, money management tools and solutions must be fit for purpose - inclusive for all, digitally-driven, and built on a secure foundation.

Source: Mastercard

|GlobalGiants.Com|


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Edited & Posted by the Editor | 8:45 AM | View the original post





September 3, 2020

World Intellectual Property Organization (WIPO) launches the Global Innovation Index (GII) 2020. India ranked in the top 50 nations.

Global Innovation Index

Global Innovation Index


Geneva, Switzerland. September 2, 2020 —World Intellectual Property Organization (WIPO) launched the Global Innovation Index 2020. Mr. Francis Gurry, Director-General of the World Intellectual Property Organization (WIPO); Mr. Wang Zhigang, Minister for Science and Technology, China; Ms. Agnès Pannier-Runacher, Minister in Charge of Industry, France; Ms. Christine Lambrecht, Minister for Justice and Consumer Protection, Germany; and Mr. Piyush Goyal, Minister of Commerce and Industry and Railways, India, presented their messages.

The GII 2020’s theme asks Who Will Finance Innovation? A key question is how the economic fallout from the COVID-19 crisis will impact start-ups, venture capital, and other traditional innovation financing sources. Many governments are setting up emergency relief packages to cushion the lockdown’s impact and face the looming recession. But the GII 2020 advises that further rounds of support must prioritize and then broaden support for innovation, particularly for smaller enterprises and start-ups that are facing hurdles in accessing rescue packages.

“The rapid, worldwide spread of the coronavirus requires fresh thinking to ensure a shared victory over this quintessential global challenge,” said WIPO Director General Francis Gurry. “Even as we all grapple with the immediate human and economic effects of the COVID-19 pandemic, governments need to ensure that rescue packages are future-oriented and support the individuals, research institutes, companies, and others with innovative and collaborative new ideas for the post-COVID era. Innovations equal solutions.”

In its associated annual ranking of the world’s economies on innovation capacity and output, the GII shows year-on-year stability at the top. Still, there is a gradual eastward shift in the locus of innovation as a group of Asian economies - notably China, India, the Philippines, and Viet Nam - have advanced considerably in the innovation ranking over the years.

Switzerland, Sweden, U.S., U.K, and the Netherlands lead the innovation ranking, with a second Asian economy - the Republic of Korea - joining the top 10 for the first time (Singapore is number 8). High-income countries dominate the top 10.

Global rankings - Top 20

  1. Switzerland
  2. Sweden
  3. United States of America
  4. United Kingdom
  5. Netherlands
  6. Denmark
  7. Finland
  8. Singapore
  9. Germany
  10. Republic of Korea
  11. Hong Kong (China)
  12. France
  13. Israel
  14. China
  15. Ireland
  16. Japan
  17. Canada
  18. Luxembourg
  19. Austria
  20. Norway

India has climbed four spots and has been ranked 48th. Amid the COVID -19 pandemic, it comes as a piece of uplifting news for India and a testament to its robust R & D Ecosystem. India was at the 52nd position in 2019 and was ranked 81st in the year 2015. It is a remarkable achievement to be in a league of highly innovative developed nations all over the globe, India’s Ministry of Commerce & Industry said. The WIPO had also accepted India as one of the leading innovation achievers of 2019 in the central and southern Asian region. The country has shown a consistent improvement in its innovation ranking for the last five years.

The top-performing economies in the GII are still almost exclusively from the high-income group, with China (14th) remaining the only middle-income economy in the GII top 30. Malaysia (33rd) follows.

India (48th) and the Philippines (50th) make it to the top 50 for the first time. The Philippines achieves its best rank ever—in 2014, it ranked 100th. Heading the lower-middle-income group, Viet Nam ranks 42nd for the second consecutive year— from 71st in 2014. Indonesia (85th) joins the top 10 of this group. Tanzania tops the low-income group (88th).

“As shown by China, India, and Viet Nam, the persistent pursuit of innovation pays off over time,” said Former Dean and Professor of Management at Cornell University, Soumitra Dutta. “The GII has been used by governments of those countries and others worldwide to improve their innovation performance.”

Source: WIPO

|GlobalGiants.Com|

(The Chief Editor is an Alumnus of the World Intellectual Property Organization (WIPO) Academy, Geneva, Switzerland.)


Main findings of the Global Innovation Index (GII) 2020.


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Edited & Posted by the Editor | 4:53 AM | View the original post





September 2, 2020

Oxford tops Times Higher Education World University Rankings 2021; Record Number of US Colleges in Top 10, but China and COVID-19 Threaten US Status as Higher Education Superpower, Says Times Higher Education Survey of Global University Leaders.


Oxford park

Photo: A Park at Oxford University. Oxford tops Times Higher Education World University Rankings 2021. Image credit: Michael Day.


LONDON, Sept. 2, 2020 — America’s higher education system has long been the world’s envy, competing only with the UK and Europe’s top universities when it comes to global reach and attracting the best student teaching and research talent. But the Times Higher Education (THE) World University Rankings 2021, released today, and a recent THE survey of 200 global higher education leaders, suggest that outside of its elite institutions, US higher education is facing the stark reality of decline. It must overcome enormous challenges if it wants to retain its position on the world stage.

US higher education commands a record 8 of the top 10 positions in the globally-recognized rankings. It would be easy to assume that US higher education is in fair health, but evidence shows it is losing out to Chinese universities’ rise.

Mainland China’s Tsinghua University becomes the first-ever Asian institution to break into the THE World University Rankings top 20, claiming joint 20th this year. In contrast, the country’s representation in the top 100 has doubled, up from three in 2020 to six in 2021. In 2016, China had just two universities in the top 200; in 2021, that number stands at seven.

And outside of the elite top 200, US institutions have been on a consistent downward trend since 2016 versus their Chinese counterparts.

Just 51% of US leaders think that science and research will become significantly higher priorities for the US Government once the pandemic is over. It compares to 78% of their Chinese counterparts and 71% in the UK.

About 44% of US leaders believe that the pandemic will reduce the government’s willingness to invest in higher education over the next five years (compared to just 8% in China). Perhaps most concerning is the almost universal belief that the pandemic is likely to result in institutions going bankrupt.

With research and government funding at risk, other funding sources could become vital for success.

Together, the World University Rankings 2021 and the THE global leaders’ survey paint a worrying picture for the US that could see China’s rise through the rankings accelerate with a dramatic rebalancing of the global knowledge economy in the coming years.

Phil Baty, Chief Knowledge Officer at THE, commented:

“The THE World University Rankings 2021 is a real wake-up call for the US higher education system, which has long dominated the global knowledge economy alongside the UK. It continues a trend over the past five years that has seen China’s rapid rise breaking into the top 100 at Western institutions’ expense. It is clear from our leaders survey that without long-term commitments to funding, and an ability to reduce reliance on international student fees, China is in pole position to benefit at the expense of the United States on the global higher education stage.”

THE WORLD UNIVERSITY RANKINGS 2021 - TOP 25

  1. University of Oxford — United Kingdom
  2. Stanford University — United States
  3. Harvard University — United States
  4. California Institute of Technology — United States
  5. Massachusetts Institute of Technology — United States
  6. University of Cambridge — United Kingdom
  7. University of California, Berkeley — United States
  8. Yale University — United States
  9. Princeton University — United States
  10. University of Chicago — United States
  11. Imperial College London — United Kingdom
  12. Johns Hopkins University — United States
  13. University of Pennsylvania — United States
  14. ETH Zurich — Switzerland
  15. University of California, Los Angeles — United States
  16. UCL — United Kingdom
  17. Columbia University — United States
  18. University of Toronto — Canada
  19. Cornell University — United States
  20. =Duke University — United States
  21. =Tsinghua University — China
  22. University of Michigan-Ann Arbor — United States
  23. Peking University — China
  24. Northwestern University — United States
  25. National University of Singapore — Singapore

SOURCE: Times Higher Education (THE)

|GlobalGiants.Com|


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Edited & Posted by the Editor | 11:47 AM | View the original post





September 1, 2020

Mastercard Recovery Insights: Italy, Russia, and France Lead Travel & Entertainment Spending Recovery in G20 Countries.

New Report Spotlights the Rise of Boutique Hotels, the Return of the Road Trip, and Other Emerging Trends.

Mastercard, Train Travel

Photo: Train Travel. Image credit: Otis Yang.

MasterCard Chart

Photo: Mastercard Chart on the recovery of travel and entertainment spending across the G20 countries.

Purchase, NY. September 1, 2020 — Despite the challenges brought on by Covid-19, there are promising signs in consumer spending - including hard-hit sectors like travel, according to Mastercard Recovery Insights. Today, Mastercard released Recovery Insights: Travel Check-In, the second report in its series focused on the impacts of the pandemic, including emerging trends in travel spending.

In particular, the analysis of anonymized and aggregated sales activity across the Mastercard network, including in-person and online transactions, shows that Italy, Russia, and France are leading in the recovery of travel and entertainment spending across the G20 countries. It includes travel sectors such as airlines and lodging, as well as activities such as eating out. Despite being a focus of the pandemic earlier this year, Italy’s influential restaurant culture and extensive domestic tourism industry have helped it bounce back faster than other markets, including the U.S, Brazil, and India.

As the broader global economy begins to show signs of improvement, several trends have emerged that mirror overall consumer spending — in particular, the shift to a smaller retail radius as consumers travel and spend closer to home.

“There’s no doubt that people love to travel. What we see, though, is that how they’re traveling has adapted during this time. Gas spending, restaurant spending, and bike rental spending are improving, showing that the rebound is happening in local travel and local spending. In other words, for those of us in the U.S., the great American road trip has returned in a new way,” says Steve Sadove, Mastercard senior advisor and former CEO of Saks.

Overall key trends spotlighted in Mastercard Recovery Insights: Travel Check-In, according to the analysis of anonymized and aggregated sales activity across the Mastercard network, include:

Localism Takes Off: In Q2 2020, auto rental’s share of total transportation spending nearly doubled from 9% in 2019 to 17% as consumers prioritized local means of transport. For instance, in Switzerland and Germany, non-air travel made up roughly three-quarters of travel spending the week ending August 7. This tendency to travel closer to home has also driven the trajectory of rentals of micro-mobility solutions (e.g., scooters, bicycles) in countries like the U.S., where they surpassed 2019 levels at the end of July. The rebound of gas spending this summer also speaks to consumers getting out and spending but maintaining a tighter footprint.

The analysis shows that travelers are increasingly opting to stay small. Recently, the global recovery rate of small independent hotels has outpaced large hotels’ recovery by over 50%.

When looking at U.S. retail sales more broadly, there is also a rebound in spending. According to ‘Mastercard SpendingPulse,’ which tracks overall retail sales across all payment types, including cash and check, retail sales were down just -3 percent for the summer (June 1-August 15) compared to the same time last year. Total U.S. travel & entertainment retail sales, including airlines, lodging, and restaurants, improved in July (-21.5% year over year) compared to June (-25.9%), according to SpendingPulse.

Mastercard says that it has been committed to helping retailers, restaurants, CPG brands, and many others navigate the pandemic’s challenges - and now the recovery. It has included making specific insight-driven tools available at no cost to governments and small businesses to give a timely snapshot of economic performance during this time. Having the ability to make informed decisions is critical to the long-term success of companies, communities, and individuals around the world.

Mastercard launched Recovery Insights to help businesses and governments better manage the health, safety, and economic risks presented by COVID-19. The initiative draws on Mastercard’s analytics and experimentation platforms, its longstanding consulting practice, and unique data-driven insights to deliver relevant and timely tools, innovation, and research.

Mastercard is a global technology company in the payments industry. It says that its mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible.

Source: Mastercard

|GlobalGiants.Com|


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Edited & Posted by the Editor | 11:25 PM | View the original post






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