Data online – Condenetint http://condenetint.com/ Mon, 27 Jun 2022 10:55:01 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://condenetint.com/wp-content/uploads/2021/06/cropped-icon-32x32.png Data online – Condenetint http://condenetint.com/ 32 32 Tencent wants to be the go-to company for foreign automakers for electric vehicles in China https://condenetint.com/tencent-wants-to-be-the-go-to-company-for-foreign-automakers-for-electric-vehicles-in-china/ Mon, 27 Jun 2022 07:49:02 +0000 https://condenetint.com/tencent-wants-to-be-the-go-to-company-for-foreign-automakers-for-electric-vehicles-in-china/

BMW’s iX electric SUV in China was the first global car brand to include the automotive version of Tencent’s WeChat messaging app, according to the Chinese tech company.

Tencent

BEIJING — Chinese internet giant Tencent wants to sell technology the company says will help foreign automakers looking to sell cars in China’s massive electric vehicle market.

BMW and some U.S. automakers are already working with Tencent, said Liu Shuquan, vice president of Tencent Intelligent Mobility, part of Tencent’s cloud business. Speaking to CNBC on Friday, he declined to specify which US automakers he works with.

In a move to bolster its international strategy, Liu’s team on Friday launched a new cloud computing product for automakers called “Tencent Intelligent Automobile Cloud.”

The all-in-one cloud product – also available to domestic automakers – can cover all technological aspects of an electric car, the company claimed. These features range from storing data in an optimized way for training autonomous driving systems, to giving drivers access to social media and Tencent’s map apps.

The user interface may be a selling point for Chinese drivers considering how Tencent dominates an array of top online entertainment apps in China.

The company has played the role of Facebook in China with its ubiquitous messaging, payment and social media app WeChat – something tech rivals Baidu and Alibaba have yet to come close to.

In entertainment, Tencent also has other apps: QQ Music, one of the top two Spotify-like apps in China; Tencent Video, which offers on-demand streaming content including reality shows and anime series; as well as popular mobile games like Honor of Kings.

Tencent Maps is the third most popular navigation app in Apple’s App Store in China – the first two belong to its main rivals Alibaba and Baidu.

All cars that allow passengers or drivers to access Tencent apps from the vehicle’s platforms must have an agreement with Tencent, Liu said.

These app-level partnerships began in 2018, around the same time Tencent Cloud began working with automakers for self-driving services, the company said.

Add more self-driving technology

Chinese auto industry players are increasingly betting that local drivers will want more autonomous driving features, which are basically assisted driving features due to current technology regulations.

Already in the first quarter, 23% of new cars sold in China came with a limited level of assisted driving, called “level 2” in a classification system for autonomous driving, according to Tencent.

With the new cloud-computing product announced last week, Liu said foreign automakers could develop vehicles with navigation and assisted driving features customized for Chinese roads and terrain.

“The data belongs to [the] OEM, the consumer,” Liu said, referring to original equipment manufacturers who supply components and parts for another company’s product.

“We just provide a cloud service to store this data. The second thing is that we provide a whole ecosystem. This ecosystem includes not only[s] our own service and content but also those of our partners.”

Liu said his company has already partnered with nearly 40 auto brands, including BMW, SAIC and Nio, covering 120 vehicle models. He also noted partnership talks with German and Japanese companies.

BMW did not immediately respond to a CNBC request for comment. Representatives of SAIC and Nio spoke at Friday’s launch event for the “Tencent Intelligent Automobile Cloud” product.

Learn more about electric vehicles from CNBC Pro

]]>
Free shipping remains top consideration for online shoppers, according to data from the Retail Technology Show https://condenetint.com/free-shipping-remains-top-consideration-for-online-shoppers-according-to-data-from-the-retail-technology-show/ Sat, 25 Jun 2022 15:30:13 +0000 https://condenetint.com/free-shipping-remains-top-consideration-for-online-shoppers-according-to-data-from-the-retail-technology-show/

Fulfillment – ​​both in terms of delivery and returns – are the top considerations for shoppers when buying online, reveals the latest research from the Retail Technology Show, the retail industry’s premier event.

An original study of over 2,000 UK shoppers in its latest Retail Revolution report showed that free delivery was the main reason why seven in ten shoppers (70%) would choose to buy from an online retailer, followed by a simple and easy return process (40%) and the ability to access exclusive offers online that were not available in-store (35%). Tracked shipping updates came in fourth, with more than a third (34%) saying live tracking of their order would make them more likely to buy from a retailer in the future. while flexible and convenient delivery options were important for 30%.

However, despite the demand for free fulfillment, 45% of consumers surveyed said that the lack of free delivery options remains their biggest problem when shopping online. And with some retailers, including Zara, starting to charge customers for returns as well as deliveries, as it seeks to offset some of the costs of reverse logistics, consumers could be even more disappointed, as director Matt Bradley explained. events at the Retail Technology Show. :

“Despite rising fulfillment costs, consumers are still demanding free, fast and frictionless fulfillment when shopping online from retailers. And that’s causing a growing headache for retailers who are facing inflationary pressures. and multifaceted costs on their businesses, causing a trade-off between meeting customer demands and cutting margins.

The issue of returns was a key trend featured in the main Retail Technology Show session with The Very Group’s Director of Digital Customer Experience, Paul Hornby. Speaking alongside Sarah Curran Usher, NED French Connection and MD EMEA at True Fit, he discussed the impact of the returns on fashion group pureplay’s operations and how it was now using personalization around the size and fit to help improve the customer experience and reduce inefficient – ​​or unavoidable – fit-based returns, as well as size sampling behaviors.

“Thriving is the next battleground,” Matt Bradley continued. “The stakes have been raised by the rise and rise of Q-commerce, and with consumers now accustomed to the concept of quick fulfillment, the challenge for retailers will be to offer a wider range of options – to both for delivery and for returns – but which they can manage and, in fact, benefit from.

Find out more about the trends that will impact retail in 2022 and beyond – as well as find out what’s in store for the Retail Technology Show 2023, which will be back bigger and better with space for more. extended exhibition on 25 and 26 April next year at London Olympia – download the full report for free: Retail Revolution: A blueprint for transformational retailing insights report – Retail Technology Show

]]>
Shanghai fashion stores struggle to shake off lockdown inventory hangover https://condenetint.com/shanghai-fashion-stores-struggle-to-shake-off-lockdown-inventory-hangover/ Thu, 23 Jun 2022 23:17:00 +0000 https://condenetint.com/shanghai-fashion-stores-struggle-to-shake-off-lockdown-inventory-hangover/

SHANGHAI, June 24 (Reuters) – Nearly a month after Shanghai lifted its strict COVID-19 lockdowns, fashion retailers are stuck with heaps of unsold goods as cautious shoppers stay in the dark. away from the glitzy shopping areas of the mall.

Curbs to stop the virus in Shanghai, China’s fashion capital, brought the city of 25 million to a standstill in April and May, leaving clothing and beauty product displays in stores and clothing containers untouched imports blocked at the port.

The city’s reopening this month saw a flood of goods shipped from warehouses to store shelves already laden with unsold goods from two months of lockdown. Normally, about one-fifth of all imported goods entering China pass through the port of Shanghai.

Join now for FREE unlimited access to Reuters.com

Days after COVID-19 restrictions were eased, large “sales” signs were set up across Shanghai, with retailers from Lululemon to Victoria’s Secret offering discounts to entice shoppers.

Even online retailers have struggled to eliminate a glut caused by lockdowns and supply interruptions.

“It really meant a lot to us,” said Josh Gardner, founder and managing director of Chinese market e-commerce partner Kung Fu Data, which manages online stores for 10 fashion brands, including G-Star Raw.

“In April, May on the platforms (main e-commerce in China), there was no t-shirt to find, we were out of summer stock, and everyone else, there was no just no product,” he said. “Now everyone is bleeding and stuck with a lot of inventory they can’t move.”

China is a major market for personal luxury goods companies with sales reaching $74.4 billion in 2021, according to Bain.

A consultancy estimated that sales during “618” – a major trade event in China from May 31 to June 20 – on major e-commerce sites, such as Tmall and JD.com, were flat year on year. the other. Read more

In the opening week of the event, data from Tmall showed menswear sales fell 22% and womenswear 4%, although sportswear sales fell. increased by 26%, possibly due to an increased focus on fitness during lockdown.

For now, some retailers are hoarding inventory and ordering less for the fourth quarter, when they will try to clear existing stock until November’s Singles Day.

“For the clothing category, due to the epidemic and slow consumption, there is a high level of inventory backlog of spring collections,” said JD.com general manager Lei. Xu, following the online retailer’s first quarter results. “As a result, many factories are considering skipping their…summer collections.”

Flash sale specialist OnTheList, which sells luxury goods for brands such as Versace, Jimmy Choo and Lanvin at discounts of 70% or more, reopened its physical showroom in Shanghai last weekend with a sale of Salvatore Ferragamo.

The high-end Italian fashion brand and almost all other retailers in Shanghai closed their stores in April and May. Salvatore Ferragamo declined to comment.

Jean Liang, general manager of OnTheList China, said luxury brands are now more open to online sales, as well as offline sales, while cosmetics brands are proactively seeking to maintain sales to eliminate excess inventory.

“Before, it was always us asking them what their plans were and now they approach us, which means they have inventory that they have to clean up to have a healthy inventory situation,” she said. . OnTheList’s flash sale schedule, which runs every few days, is already booked through September.

Sending products overseas for distribution in Europe or America is another solution, but it’s currently complicated by skyrocketing shipping and air freight costs, said Benny Wong, director of supply chain. of the online wholesale market, Peeba.

“Now the main hurdle is transportation…which creates a big problem for the inventory owner,” he said. “Inventory can kill (and) some product categories have a huge inventory to move.”

SUSPICIOUS CONSUMERS

A few weeks after the reopening, retail sentiment is depressed, with Shanghai consumers yet to return to malls in significant numbers and footfall around half its usual level at major downtown malls. city, according to retail staff.

Shanghai residents are reluctant to return to indoor public spaces, largely for fear of being locked down again, as China’s stubborn zero COVID policies demand it whenever new infections emerge.

A continued ban on eating out in restaurants also means malls are left without their usual food and drink attractions.

Across China, retail sales fell 6.7% in May from a year earlier, extending the previous month’s 11.1% decline as a slowdown in the world’s second-largest economy discouraged spending on consumption.

“In terms of inventory clearance, there really isn’t a good solution in China,” Kung Fu Data’s Gardner said. “I mean, what are you going to do that’s not going to destroy your brand?”

Join now for FREE unlimited access to Reuters.com

Reporting by Casey Hall; Editing by Sam Holmes

Our standards: The Thomson Reuters Trust Principles.

]]>
Stopping the Inadvertent Spread of Misinformation/Disinformation with Digital Advertising Technology | Knowledge https://condenetint.com/stopping-the-inadvertent-spread-of-misinformation-disinformation-with-digital-advertising-technology-knowledge/ Tue, 21 Jun 2022 18:55:25 +0000 https://condenetint.com/stopping-the-inadvertent-spread-of-misinformation-disinformation-with-digital-advertising-technology-knowledge/

The rise of technologies such as advertising technology (AdTech), especially search engine optimization (SEO), greatly benefits retailers and service providers in the virtual sphere. Just as an eye-catching billboard near a key intersection or a primetime television ad and other forms of advertising were keys to success in years past, today’s marketers learned how to place their advertisements on popular social media sites, popular online games, and other web vehicles to engage more consumers. In today’s cyber world, online advertisements and other forms of digital marketing create more brand impact and reach more consumers and audiences than traditional advertising practices.

The existence of data insights, algorithms, machine learning and other innovative mechanisms makes it easier to target certain consumer groups. Online programmatic advertising involves buying digital campaigns for specific sets of demographic groups. These mechanisms use data insights and algorithms to serve ads to the right user at the right time – and at the right price. Programs used by advertisers know consumers’ interests and wants and give them what they want, even if consumers don’t realize right away that they want the product or service.

Unfortunately, the use of such programmatic online advertisements contributes to the unintentional spread of misinformation. In this process, reputable companies and brands do not choose – or even know – where their advertisements may appear or what content is adjacent to their advertisement. The mis/disinformation industry leverages this misunderstanding to spread and underpin content, leading brands to inadvertently fund and contribute to the spread of mis/disinformation. This propagation can create polarization among users and amplify the misleading information received.

Next steps

Lack of knowledge when managing digital advertising campaigns through online programmatic advertising could expose businesses to significant advertising and intellectual property issues. Brand goodwill can quickly suffer reputational damage from the unintentional dissemination of misinformation.

Brand safety technology companies are tackling and working to mitigate the spread of mis/disinformation. Their complex artificial intelligence (AI)-based discovery systems monitor harmful online content and help identify bad actors and untrusted information. Unmasking certain mis/disinformation threats in digital media will be crucial to not mislead consumers, to have a more transparent digital ecosystem and to protect reputable brands.

Advertisers should take steps to protect their reputation by asking questions of AdTech service providers to better understand where their ads will appear and what type of content will be adjacent to those ads. Brand safety programs should be implemented to avoid tarnishing goodwill through inadvertent ad placement.

For more information and advice on protecting your ads and ad placement, contact the authors.


The information in this alert is intended for the general education and knowledge of our readers. It is not intended to be and should not be relied upon as the sole source of information when analyzing and resolving a legal issue, and it should not substitute for legal advice, which is based on a specific factual analysis. In addition, the laws of each jurisdiction are different and constantly changing. This information is not intended to create, and receipt of it does not constitute, an attorney-client relationship. If you have specific questions regarding a particular factual situation, you are encouraged to consult the authors of this publication, your Holland & Knight representative or other competent legal counsel.


]]>
TikTok calls on Oracle to protect US user data │ GMA News Online https://condenetint.com/tiktok-calls-on-oracle-to-protect-us-user-data-%e2%94%82-gma-news-online/ Fri, 17 Jun 2022 18:05:49 +0000 https://condenetint.com/tiktok-calls-on-oracle-to-protect-us-user-data-%e2%94%82-gma-news-online/

SAN FRANCISCO, United States — TikTok said Friday that Oracle would store all of its US users’ data, in an effort to allay fears about its security in the hands of a ByteDance-owned platform in China.

The popular video snippet-sharing service will continue to use its own data centers in Virginia and Singapore to back up information as it works to “fully pivot” to Oracle in the United States, TikTok said in a post. .

“We know that we are among the most scrutinized platforms from a security perspective, and we aim to remove any doubt about the security of American users’ data,” said Albert Calamug, who manages American public security policy. at TikTok.

Last year, President Joe Biden revoked his predecessor Donald Trump’s executive orders to ban Chinese apps TikTok and WeChat from US markets on national security grounds.

Trump had given his blessing to a plan that would have given TikTok to US tech giant Oracle with investments from distribution powerhouse Walmart, but that deal was not approved in Beijing.

Biden’s new executive order reversed the unenforced ban and called for “evidence-based analysis to address the risks” of internet apps controlled by foreign entities.

WeChat, part of Chinese tech giant Tencent, is a “super app” that includes social media, messaging, e-commerce and more.

TikTok revealed late last year that it had one billion users worldwide.

“Today, 100% of US user traffic is routed to Oracle Cloud Infrastructure,” Calamug said.

“In addition, we are working closely with Oracle to develop data management protocols that Oracle will audit and manage to give users even more peace of mind.”—Agence France-Presse

]]>
New funds for sustainability data company EcoVadis https://condenetint.com/new-funds-for-sustainability-data-company-ecovadis/ Tue, 14 Jun 2022 22:29:17 +0000 https://condenetint.com/new-funds-for-sustainability-data-company-ecovadis/

New funds for sustainability data company EcoVadis

June 14, 2022

Corporate sustainability rating provider EcoVadis has raised $500m in a Series C funding round, valuing the company at $1bn. The company will use the funds to accelerate its global expansion, deepen its artificial intelligence and machine learning capabilities, and make strategic acquisitions.

Based in New York and Paris, EcoVadis provides evidence-based insights and ratings to monitor and improve the sustainability performance of companies and their business partners. Its dashboards, benchmarks, carbon action tools and insights are used to help guide an “improvement journey” of environmental, social and ethical practices across 200 industry categories in 175 countries.

The investment round was led by Astorg and BeyondNetZero, with participation from GIC and the Climate Technology Fund, bringing the total raised to date to over $725 million. Frédéric Trinel (photo), co-founder and co-CEO of EcoVadis, comments: “We expect this investment to allow us to leverage our desire to meet companies – including SMEs and private companies – at any stage of their sustainability journey, and collaboratively drive improved practice and impact at scale.”

Website: www.ecovadis.com.

]]>
New abortion laws could see many women and doctors face criminal charges https://condenetint.com/new-abortion-laws-could-see-many-women-and-doctors-face-criminal-charges/ Sun, 12 Jun 2022 09:48:31 +0000 https://condenetint.com/new-abortion-laws-could-see-many-women-and-doctors-face-criminal-charges/ New abortion laws could see many women and doctors face criminal charges

  • Period-tracking apps, telehealth appointments, mail-in pharmacy requests and other data could be used as evidence in criminal cases for people involved in abortions, experts have said.
  • States that have already passed laws redefining “personhood” to include an unborn child may mean that people seeking abortions or anyone assisting them could face charges of feticide or aggravated assault, among other charges. charges.
  • To date, more than 80 elected district attorneys and attorneys general across the country, including in red states, have pledged to use their discretion not to indict individuals or those who help them end a pregnancy if federal abortion rights were revoked.

If the Supreme Court decides to overturn Roe v. Wade this month, lawmakers and the law law enforcement may have various means to prosecute women and health care providers who participate in abortions largely because of technology that did not exist before the landmark 1973 decision protecting the right to ‘abortion.

Help Terms of Service Privacy Policy Your California Privacy Rights / Privacy Policy Our Ethical Principles Sitemap

© 2022 USA TODAY, a division of Gannett Satellite Information Network, LLC.

]]>
3 breakthrough data readings from ASCO https://condenetint.com/3-breakthrough-data-readings-from-asco/ Fri, 10 Jun 2022 14:37:10 +0000 https://condenetint.com/3-breakthrough-data-readings-from-asco/

“Surprising.” “Paradigm shift.” “First time in history.” You don’t hear that kind of talk very often in cancer care.

Indeed, oncologists are conditioned to view most new therapies with a high degree of skepticism. After all, the vast majority of treatments typically increase lifespan by just a few months, and often with a reduction in quality of life.

So here is a trio of data readings that impressed even this skeptical group. All were unveiled at this year’s American Society of Clinical Oncology (ASCO) meeting. And in any case, the data could have implications for practice.

Phase 3 study Destiny-Breast04 of AstraZeneca and Daiichi Sankyo on Enhertu: In the Phase 3 Destiny-Breast04 study, Enhertu was shown to reduce the risk of disease progression or death by 49% compared to chemotherapy in patients with low metastatic breast cancer. previously treated HER2. The results also showed a 36% reduction in the risk of death compared to chemotherapy.

Most of the trial subjects had hormone-responsive tumors and whose cancer had metastasized and had undergone at least one cycle of chemotherapy. The interim analysis showed that Enhertu prolonged their median overall survival by an additional 6.4 months (and, in the few hormone-unresponsive tumors, by 6.3 months).

The data, revealed in a plenary presentation and published in the New England Journal of Medicine, drew an extended standing ovation from an enthralled crowd of ASCO attendees.

Enhertu, approved as a third-line treatment for patients with HER2-positive breast cancer, generated sales of $214 million in 2021. The new data opens up a multi-billion dollar patient population: people with so-called HER2-low breast cancer, or patients who express little or no HER2. This area had few treatment options.

“Enhertu appears likely to remake the breast cancer landscape,” wrote Tim Anderson of Wolfe Research in a note to investors. “The last time this happened was in 1998 with Herceptin,” which carved out a segment in traditional HER2-positive breast cancer.

Anderson predicts that an additional 50,000 patients in the US, EU and Japan will become eligible, a two- to three-fold increase in the current opportunity for breast metastases.

Enhertu consists of an antibody and a kind of chemotherapy warhead whose payload, when delivered to the tumor, kills adjacent cancer cells. The safety in the trial was consistent with the known drug profile.

DESTINYBreast04’s results, described by SVB’s Andrew Berens as “paradigm shifting,” boosted Enhertu’s consensus earnings. Wall Street forecasts $5.3 billion in global sales of Enhertu in 2026, while Anderson said he expects sales to reach $4.1 billion by 2026 and 5.6 billion by 2032.

Given the large potential impact on breast cancer treatment regimens, “these numbers all seem too low,” Anderson noted.

“We see the standing ovation at the meeting as a testament to the anticipated commercial reception of the drug in this context,” Berens added.

KRYSTAL-1 and KRYSTAL-7 studies from Mirati Therapeutics on adagrasib + Keytruda from Merck: Just two weeks ago, Mirati ran into trouble after presenting data on its experimental drug adagrasib, which is being developed to treat lung cancer linked to the G12C mutation in the KRAS gene. Its stock plummeted when a pre-ASCO summary showed its KRAS inhibitor to be broadly comparable to, if not slightly worse than, a predecessor in a difficult-to-treat subset of lung cancer.

The new data received a warmer reaction. This data, shared by Mirati in an investor presentation at ASCO, comes from the biotech’s KRYSTAL-1 and KRYSTAL-7 trials, providing early evidence that the combination appears tolerable with encouraging efficacy.

Although unconfirmed, the data suggests that this regimen may provide a chemotherapy-free option for previously untreated patients with non-small cell lung cancer, according to Berens.

This was a “surprise,” the analyst noted, adding that the evidence “helps alleviate some investor concerns about the inability to combine a checkpoint inhibitor like Keytruda and any G12C agent due to hepatotoxicity.” .

The absence of a significant increase in liver enzymes was particularly significant. For fear of causing liver damage, oncologists were hesitant to combine Amgen’s first KRAS blocker, Lumakras, with a checkpoint inhibitor, preferring instead to combine it with chemotherapy.

Mirati has the preliminary evidence to warrant further study and, pending confirmation, to take on Lumakras, which is also being tested in combination with Keytruda.

However, Amgen’s upcoming combo data “should be largely disappointing,” Berens said. Thus, Mirati’s unexpected data on KRYSTAL-1 and KRYSTAL-7 “could now be seen as an opportunity for Mirati rather than a class liability”.

Before ASCO, Berens had wondered if adagrasib could even be differentiated from Lumakras. Now poised to kick chemo out of the lung cancer treatment playbook — if this promising evidence comes to fruition — adagrasib has a shot at becoming the eventual winner of KRAS.

GSK’s GARNET Phase 2 study of Jemperli (dostarlimab): While Keytruda made a splash in lung cancer, another immunotherapy made an even bigger splash in advanced rectal cancer. Patients whose tumors had a particular mutation called deficient mismatch repair (dMMR) showed an impressive response to treatment with the PD-1 inhibitor Jemperli.

In the small study of 14 subjects with locally advanced rectal adenocarcinoma, 100% of the 12 patients who completed treatment went into remission. The results were presented at ASCO and simultaneously published in the NEJM.

“I believe this is the first time this has happened in the history of cancer,” said one of the authors of the article.

At a median follow-up of one year, subjects did not require further treatment. It was quite a turnaround, given that all were faced with the prospect of traditional chemo, radiation and probably surgery.

This series of grueling treatments has a solid survival rate (typically 77% at three years), but it could have left them with bowel, urinary and/or sexual dysfunction and possibly the need for colostomy bags. All 12 have also had no clinically significant complications, while about 20% typically have adverse reactions to checkpoint inhibitors.

In an accompanying NEJM op-ed, another cancer researcher called the results “small but compelling” and “cause for great optimism.” However, researchers do not yet know how long it will take to know if a full response to immunotherapy would be curative.

Jemperli, the seventh PD-1 drug to hit the market, has the same mechanism of action as Keytruda, which already has a tumor-agnostic indication in a similar mismatch repair patient population. If these drugs prove curative for rectal cancer, “a breakthrough treatment change” could be in sight: “Eligible patients may no longer have to accept functional compromises to be cured.”

]]>
Bank On Louisville Celebrates Republic Bank’s Simple Access Verification as It’s Nationally Certified https://condenetint.com/bank-on-louisville-celebrates-republic-banks-simple-access-verification-as-its-nationally-certified/ Wed, 08 Jun 2022 14:02:26 +0000 https://condenetint.com/bank-on-louisville-celebrates-republic-banks-simple-access-verification-as-its-nationally-certified/

National certification of Simplified access indicates that it meets more than 25 features for safe and affordable transaction accounts for consumers

Today, Bank On Louisville announced that Republic Bank’s Simple Access account has been officially certified by the National Cities for Financial Empowerment Fund (CFE Fund) as responding to Bank on National Accounts Standards (2021 – 2022). The National Secure Account Standards, co-created by consumer advocates, leading national nonprofits, civic leaders, and other financial institutions, identify both essential and highly recommended features that guarantee low cost, high functionality and consumer safety. Bank On Louisville works with financial institutions, community organizations, local government leaders and federal regulators to connect Louisville residents to safe, affordable and productive bank accounts. With Simple Access account certification, there are now 10 financial institutions offering certified accounts in the Louisville area.

“We are thrilled to have Republic Bank and the Simple Access account in the Bank On Louisville Coalition,” said Erin Waddell, Co-Chair of Bank On Louisville. “The Republic Bank account provides an additional opportunity for our Louisville residents to connect to safe and affordable banking services and supports our financial inclusion efforts.”

The Simple Access account has no minimum balance, no overdraft or insufficient funds fees, and a Mastercard™ debit card and access to over 90,000 ATMs at no cost. Customers can apply for the account at any Republic banking center, online or on mobile in as little as 10 minutes. Through the Bank’s free online and mobile banking platforms, customers can view account balances and monthly statements, pay bills, make mobile check deposits and find the nearest toll-free ATM. Additionally, Simple Access customers can access funds from their direct deposits up to two business days earlier with Early Direct Deposit (ACH).

“We appreciate the work done by the CFE Fund and their certification of our new Simple Access checking account as meeting Bank On standards,” said Logan Pichel, President and CEO of Republic Bank. “Through its past leadership in Bank On programs, Republic Bank has always been focused on providing our communities with increased access to the financial resources and support they need to thrive.”

“Bank On Louisville is doing essential work to help Louisville residents get into the financial mainstream,” said David Rothstein, senior director of the Cities for Financial Empowerment Fund. “We are thrilled to bring our National Bank On certification to the Easy Access account, an affordable account with no overdrafts or insufficient funds fees. Republic Bank’s offering of this great account puts them at the forefront of national access to banking efforts, and we thank them.

Bank On’s goal is to ensure that everyone has access to safe and affordable financial products and services. The Bank On National Account standards identify essential product features for appropriate bank or credit union accounts, making it easier for local coalitions across the country to connect consumers to the accounts that meet their needs.

With the addition of the Simple Access account which meets Bank On National Account standards, it is now available at more than 39,540 branches in all 50 states and Washington, DC; financial institutions with Bank On certified accounts already account for more than 56% of the national deposit market share. In addition to Simple Access, over 230 other Bank On certified accounts are available across the country. Data collected by the CFE Fund in partnership with the Federal Reserve Bank of St. Louis via Bank On’s national reporting platform shows that these accounts meet the needs of consumers; since their offer, millions of consumers have opened Bank On certified accounts, of which more than 80% opened by consumers who discover the financial institution.

The CFE Fund leads the national Bank On movement, supporting nearly 100 local and state coalitions across the country working to connect individuals and families to the financial mainstream through partnerships between governments, financial institutions and organizations. community. To learn more about Bank On and the National Accounts Standards, click here or follow the conversation on Twitter @CFEfund #BankOn.

About Bank On Louisville
Launched in 2010, Bank On Louisville is a collaborative partnership of local government, financial institutions, and community organizations working to improve the financial stability of unbanked and underbanked residents of our Louisville community. To date, Bank On Louisville has helped over 50,000 residents access safe and affordable bank accounts and connected over 26,000 residents with quality financial education. Visit www.bankonlouisville.org for more information.

About the Bank of the Republic
Republic Bancorp, Inc. (the “Company”) is the parent company of Republic Bank & Trust Company (the “Bank”). The Bank currently has 42 full-service banking centers in five states: 28 banking centers in 8 Kentucky communities – Covington, Crestview Hills, Florence, Georgetown, Lexington, Louisville, Shelbyville and Shepherdsville; three banking centers in southern Indiana – Floyds Knobs, Jeffersonville and New Albany; seven banking centers in six Florida communities (Tampa MSA) – Largo, New Port Richey, St. Petersburg, Seminole, Tampa and Temple Terrace; two banking centers in two communities in Tennessee (Nashville MSA) – Cool Springs and Green Hills; and two banking centers in two communities in Ohio (Cincinnati MSA) – Norwood and West Chester. The Bank offers Internet banking services at www.republicbank.com. The company has approximately $6.3 billion in assets and is headquartered in Louisville, Kentucky. The Company’s Class A common stock trades under the symbol “RBCAA” on the NASDAQ Global Select Market.

About the Cities Fund for Financial Empowerment (CFE Fund)
The CFE Fund supports municipal efforts to improve household financial stability by taking advantage of opportunities unique to local government. By translating cutting-edge experience with large-scale programs, research and policies in cities of all sizes, the CFE Fund helps mayors and other local leaders identify, develop, finance, implement and research pilots and programs that help families build assets and make the most of their financial resources. The CFE Fund currently works in more than 100 cities and counties and has awarded more than $59 million to local governments and their partners to support these efforts. For more information, please visit www.cfefund.org or follow us on Twitter at @CFEFund.

About Bank On
Bank On coalitions are locally-led partnerships between local public officials; municipal, state and federal government agencies; financial institutions; and community organizations that work together to help improve the financial stability of unbanked and underbanked individuals and families in their communities. The national Bank On initiative builds on a grassroots movement of more than 90 coalitions in cities across the country, providing national accounting standards, capacity grant support, pilot funding and a learning community. In addition to connecting the unbanked to accounts, Bank On programs raise public awareness, target outreach to the unbanked, and expand access to financial education. Visit www.cfefund.org/bankon for more information, or follow the conversation on Twitter @CFEFund #BankOn.

###

]]>
Wall St ends up with growth stocks, but inflation fears linger https://condenetint.com/wall-st-ends-up-with-growth-stocks-but-inflation-fears-linger/ Mon, 06 Jun 2022 21:02:00 +0000 https://condenetint.com/wall-st-ends-up-with-growth-stocks-but-inflation-fears-linger/
  • Amazon.com, other megacap stocks gain
  • All eyes on the US CPI report later this week
  • Didi bursts into report on conclusion of China regulatory probe
  • Indices: Dow up 0.1%, S&P 500 up 0.3%, Nasdaq up 0.4%

NEW YORK, June 6 (Reuters) – U.S. stocks closed a choppy session up slightly on Monday, helped by gains from Amazon.com and other mega-cap growth stocks, as lingering concerns over the inflation and interest rates have constrained the market.

Shares of Amazon.com Inc (AMZN.O) rose 2% and were the most positive for the S&P 500 and Nasdaq after the online retailer split its shares 20-to-1.

Shares of Apple Inc (AAPL.O) rose 0.5%. At its annual software developer conference, the tech giant announced among other things that it would integrate its software more deeply into the cars’ basic driving systems. Read more

Join now for FREE unlimited access to Reuters.com

Among the sectors, Consumer Discretionary (.SPLRCD) and Communication Services (.SPLRCL) posted the largest gains of the day.

But investors remain focused on inflation and rising interest rates. A US Consumer Price Index report on Friday is expected to show inflation still high and US Treasury yields rose on Monday. Read more

A strong jobs report on Friday dampened hopes of a pause in the Federal Reserve’s aggressive policy-tightening plan to fight inflation.

“There’s been a push-pull in the markets for some time,” said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.

The jobs report was proof that “the economy is still in good shape,” he said. But “with inflation running quite high and commodity prices continuing to rise and hit new all-time highs, perhaps that inflation spike is still in that ethereal future.”

The feeling of help has been easing regulatory repression in China and signs in parts of China of a return to more normal activity after the country’s biggest COVID-19 outbreak in two years.

The Dow Jones Industrial Average (.DJI) rose 16.08 points, or 0.05%, to 32,915.78, the S&P 500 (.SPX) gained 12.89 points, or 0.31%, to 4,121.43 and the Nasdaq Composite (.IXIC) added 48.64 points, or 0.4%, to 12,061.37.

Shares of Twitter Inc (TWTR.N) fell 1.5% after billionaire Elon Musk said he could drop his takeover bid if the social media company did not provide spam data and fake accounts. Read more

U.S.-listed shares of Chinese companies rallied after a report that Chinese regulators are concluding investigations into ride-hailing giant Didi Global Inc and two other companies. The KraneShares CSI China Internet ETF (KWEB.P) jumped 4.7% and Didi Global 24.3%. Read more

Advancing issues outnumbered declining ones on the NYSE by a ratio of 1.29 to 1; on the Nasdaq, a ratio of 1.01 to 1 favored the decliners.

The S&P 500 posted 1 new 52-week high and 29 new lows; the Nasdaq Composite recorded 58 new highs and 129 new lows.

Volume on U.S. exchanges was 10.64 billion shares, compared to an average of 12.75 billion for the full session over the past 20 trading days.

Join now for FREE unlimited access to Reuters.com

Reporting by Caroline Valetkevitch in New York Additional reporting by Medha Singh, Susan Mathew and Devik Jain in Bengaluru and Tom Westbrook in Singapore Editing by Maju Samuel and Matthew Lewis

Our standards: The Thomson Reuters Trust Principles.

]]>