Month: February 2023

With phony advertising lawsuits on the increase, manufacturers possibility very long-phrase harm to their image

by  on  in Advertising & Marketing

This article was 1st reported on, and posted by, Digiday sibling ModernRetail.

For the past month, allegations involving hair reduction and other side results have engulfed the luxurious hair treatment model Olaplex. 

Olaplex is remaining sued following 30 girls filed a lawsuit on Feb. 9, proclaiming the company’s products consist of allergens and irritants that have resulted in brittle hair and hair reduction. Olaplex’s graphic difficulties appear at the heels of the company’s declining streak since going public in 2021.

The subsequent social media fallout prompted Olaplex CEO JuE Wong to tackle the allegations in a video message previous 7 days, saying the promises are “baseless” and that Olaplex is “prepared to vigorously defend” the brand. Wong extra that the business has publicly produced examination outcomes from unbiased 3rd-celebration laboratories debunking promises that Olaplex goods induce hair destruction. 

The Olaplex situation is part of a developing pattern of prospects getting legal motion against what they allege is fake advertising or misleading advertising. Other allegations are far more benign, in some cases using challenge with wherever goods are created and how that’s reflected in advertising campaigns. This was lately the case for Barilla and Godiva, whose phony “European-made” branding irritated some consumers. Though companies can place these authorized difficulties guiding them with settlements, they can also tarnish the track record — and, at the incredibly minimum, rapid sales — of much more susceptible manufacturers. And social media has grow to be the hotbed for many of these backlash campaigns to go viral.

Some of the lawsuits centre all around challenges customers get up with luxury or far better-for-you brands when all those products and solutions allegedly really do not stay up to the hoopla, or when there is concern above severe facet consequences. The Olaplex lawsuit alleges carelessness, false advertising

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TTEC Announces Fourth Quarter and Full Year 2022 Financial Results

by  on  in Business Financial News

Full Year 2022
Revenue was $2.444 Billion, up 7.5 Percent and 9.4 Percent on a Constant Currency Basis
Operating Income was $168.5 Million or 6.9 Percent of Revenue
($248.5 Million or 10.2 Percent of Revenue Non-GAAP)
Net Income was $117.3 Million or 4.8 Percent of Revenue
($174.4 Million or 7.1 Percent of Revenue Non-GAAP)
Adjusted EBITDA was $326.6 Million or 13.4 Percent of Revenue
Fully Diluted EPS was $2.48 ($3.68 Non-GAAP)

Full Year Bookings of $762 Million

Fourth Quarter 2022
Revenue was $658.3 Million, up 7.5 Percent and 9.6 Percent on a Constant Currency Basis
Operating Income was $48.7 Million or 7.4 Percent of Revenue
($69.9 Million or 10.6 Percent of Revenue Non-GAAP)
Net Income was $25.6 Million or 3.9 Percent of Revenue
($42.0 Million or 6.4 Percent of Revenue Non-GAAP)
Adjusted EBITDA was $84.8 Million or 12.9 Percent of Revenue
Fully Diluted EPS was $0.54 ($0.89 Non-GAAP)

Fourth Quarter Bookings of $197 Million

Provides Outlook for Full Year 2023

DENVER, Feb. 27, 2023 /PRNewswire/ — TTEC Holdings, Inc. (NASDAQ: TTEC), one of the largest, global CX (customer experience) technology and services innovators for end-to-end digital CX solutions, announced today financial results for the fourth quarter and full year ended December 31, 2022.

“We ended 2022 with solid execution and financial results despite the increased uncertainties surrounding the macroeconomic environment. Our performance reflects our broad and diverse base of global clients, our expertise across key strategic verticals, and our full range of CX technology, AI, and service capabilities,” commented Ken Tuchman, chairman and chief executive officer of TTEC. “In this dynamic environment, we will continue to execute on our strategy to accelerate the diversification of our geographic and language footprint, and capitalize on the growing adoption of the

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Business enterprise Highlights: Fed minutes, offshore wind auction

by  on  in Business Card Companies

Comment

Biden considers 1st offshore wind auction in Gulf of Mexico

The Biden administration claimed Wednesday it is taking into consideration the first-at any time lease sale for offshore wind energy in the Gulf of Mexico, a critical section of a press to deploy 30 gigawatts of offshore wind by 2030 to aid struggle local climate adjust. The proposed sale, which could choose area as soon as this summer time, consists of parts offshore Lake Charles, Louisiana and Galveston, Texas, for about 3.6 gigawatts of energy, enough to energy about 1.3 million residences. Researchers say dirty electricity produced burning coal and fuel should be replaced as rapid as doable with electrical power that does not pollute in purchase to prevent severe variations to the local weather.

Fed Minutes: Virtually all officers backed quarter-stage hike

WASHINGTON — Approximately all Federal Reserve policymakers agreed before this thirty day period to sluggish the speed of their charge will increase to a quarter-point, with only “a few” supporting a larger 50 %-position hike. The minutes from the Fed’s Jan. 31-Feb.1 conference reported most of the officers supported the quarter-issue improve because a slower pace “would better enable them to assess the economy’s progress” towards lowering inflation to their 2% goal. The enhance raised the Fed’s benchmark rate to its greatest stage in 15 years. It adopted a 50 %-place charge maximize in December and four 3-quarter-stage hikes right before that. The central bank’s rate hikes generally direct to a lot more pricey mortgages, vehicle loans, credit rating card borrowing and business enterprise lending.

Microsoft brings Bing chatbot to phones immediately after curbing quirks

Microsoft is ready to acquire its new Bing chatbot mainstream — less than a 7 days immediately after producing main fixes to end the artificially clever search

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These 200 companies are leading the clean economy in 2023

by  on  in Business Information Companies

In 2016, things seemed somewhat dire for the clean energy transition. The election of Donald Trump meant the United States would soon pull out of the Paris Agreement. While there were record global investments in renewables that year, there were fears that Trump would undo some of the progress that had been made up until that point.  

It also happened to be the same year Corporate Knights and As You Sow launched the Clean200 – a list of publicly traded companies worldwide that are leading the clean energy charge. Things have changed quite a bit since then as investors have poured a growing amount of money into the energy transition and green companies have thrived. If an investor had put $10,000 into the Clean200 in July 2016, that investment would have grown to $19,121 by the end of January 2023. 

“The Clean200 has demonstrated consistently that what we called the ‘clean energy’ future seven years ago is now the clean energy present,” says Andrew Behar, CEO of As You Sow. “This year, the scale and global diversity of leading companies continue to expand and redefine the term ‘cleantech’ to be any company that has products and services that will reduce demand for fossil fuels and water.” 

The Clean200 lists the 200 major corporate players from 35 countries around the world that are at the forefront of the energy transition and put sustainability at the heart of their products, services, business models and investments, helping to move the world onto a more sustainable trajectory. On average, 58.3% of revenues earned by Clean200 companies are classified as sustainable, representing close to $2.4 trillion (all figures in U.S. dollars) in revenue, roughly unchanged from last year and significantly above the 5% average sustainable revenue for their MSCI ACWI peers.  

The United States

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Diana Davis

by  on  in Best Business Newspaper

(KAIT) – An Emmy award-winning journalist, Diana Davis is the senior news anchor and reporter at KAIT-Television set. Diana has been honored by the National Academy of Tv Arts and Sciences with their Silver Circle award recognizing television industry experts who have carried out distinguished company within the industry for 25 yrs or more. Her experience and knowledge of Region 8 have enabled her to aid in occasions of crisis such as when Jonesboro was hit by an EF3 tornado in March 2020.

An Emmy award-winning journalist, Diana Davis is the senior news anchor and reporter at KAIT-TV.
An Emmy award-profitable journalist, Diana Davis is the senior information anchor and reporter at KAIT-Tv.(KAIT)

Her passion for reporting commenced in significant faculty when she started writing for her hometown newspaper, The Raytown Publish. She became the editor of her high university newspaper and went on to graduate with a diploma in Journalism from the College of Kansas William Allen White University of Journalism and Mass Communications in Lawrence, Kansas.

As a pupil, she labored for Lawrence Sunflower Cable and interned at KCMO Radio 81 in Kansas Town, Missouri—the exact radio station the place Walter Cronkite was provided his first broadcast position. Diana was employed by WIBW-Television set in Topeka as a weekend reporter/information anchor during her senior 12 months of college. She went total-time after graduation as a typical assignment reporter masking aircraft crashes, a tornado, and a kidnapping that led to the tragic murders of nearly an entire family.

As Diana was planning for an night newscast, a cellphone call came to her from a station in Jonesboro, Arkansas. KAIT-TV was hunting for an night news anchor. Then Basic Supervisor Harold Culver asked if she would ship a copy of the newscast she was about to anchor that night, and the relaxation is heritage.

Diana arrived to KAIT in 1989 at the age of

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3 Stocks to Watch From the Booming Advertising & Marketing Industry

by  on  in Advertising & Marketing

The rise in service activities, along with increased digital marketing services and the success of the work-from-home trend, is enabling the Zacks Advertising and Marketing industry to counter the prevailing pandemic-related challenges.

Customer-centric approaches to business, digital strategies and technology investments are helping Publicis Groupe S.A. PUBGY, Omnicom Group Inc. OMC and The Interpublic Group of Companies, Inc. IPG to sail through the current testing times.

About the Industry

The Zacks Advertising and Marketing industry comprises companies that offer an extensive range of services, including advertising, branding, content marketing, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services. Prominent players from the industry include Interpublic and Omnicom. The pandemic will continue to change the way industry players have conducted business and delivered services so far. Currently, the industry’s key focus is on channelizing money and efforts toward media formats and devices. To position themselves suitably in the post-pandemic era, service providers are increasing their efforts toward formulating strategic initiatives and identifying sources of demand.

What’s Shaping the Future of the Industry?

Economic Recovery: The industry is a beneficiary of service activities that are currently in good shape. The Services PMI measured by the Institute for Supply Management has stayed above 50% after contracting in December2022, following 30 consecutive months of expansion. It clocked 6% growth from December 2022 to January 2023, touching 55.2%.

Reviving Demand: The industry is mature, with demand for services remaining strong over time. Revenues, income and cash flows are anticipated to gradually reach the pre-pandemic healthy levels, aiding most industry players in paying out stable dividends.

Digital Marketing Gathering Steam: Amid the pandemic, digital media consumption has shot up, with consumers spending more time on various media platforms and video-streaming services. Thus, agencies offering digital marketing services

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What Is a Paydex Score?

by  on  in Business Card Companies

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  • Developed by data and analytics company Dun and Bradstreet, Paydex scores are business credit scores that range from 1-100.
  • A good Paydex score starts at 80, with early payments earning a company higher scores.
  • Paydex scores are dollar-weighted, which means paying off higher debts have a bigger impact on your score.

Before anyone can take out credit — be it a loan to buy a car, a credit card, or a mortgage, potential creditors will check their credit score to see how likely they will pay off their debt on time. Higher credit scores qualify for the best rates.

When a business borrows money, its Paydex score serves a similar function, measuring its creditworthiness based on payment history. A vendor or lender can look at a business’s Paydex score to help them determine its risk before entering into a contract, approving a business loan, issuing a company credit card, or otherwise entering into a transaction with another company. 

What is a Paydex score?

A Paydex score is a business credit score that “is used just like a personal credit score,” says John J. Forrer, director of the Institute of Corporate Responsibility at George Washington University’s School of Business. Data and analytics company Dun & Bradstreet (D&B) issues these scores to all businesses regardless of size.

Paydex scores are calculated based on how promptly a business pays off its debts. They help vendors, suppliers, and

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Teck to Spin Off Steelmaking Coal Business to Shareholders

by  on  in Business Information Companies

Separation creates two world-class, independent companies: Teck Metals and Elk Valley Resources
 

  • Teck Metals – a premier, growth-oriented producer of energy transition metals
  • Elk Valley Resources – a pure-play, high-margin steelmaking coal producer
  • Teck Metals retains steelmaking coal cash flows for transition period to fund copper growth 
  • Provides investors choice of businesses with unique fundamentals and value propositions
  • Nippon Steel Corporation to pay Teck $1 billion in cash for interest in Elk Valley Resources 

Vancouver, B.C. – Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”) announced today the reorganization of its business (the “Separation”) to separate Teck into two independent, publicly-listed companies: Teck Metals Corp. (“Teck Metals”) and Elk Valley Resources Ltd. (“EVR”).

The Separation will create two world-class resource companies and provide investors with choice for allocating investment between two businesses with different commodity fundamentals and value propositions. Teck Metals will be growth-oriented, with premier, low-cost base metals production, a top-tier copper development portfolio and a disciplined capital returns policy. EVR will be a high-margin Canadian steelmaking coal producer, focused on long-term cash generation and providing cash returns to shareholders, with significant equity value accretion potential. Both companies will remain committed to strong environmental and social performance.

“This transformative transaction creates two strong, sustainable, world-class mining companies committed to responsibly providing essential resources the world needs,” said Jonathan Price, CEO, Teck. “Both Teck Metals and EVR have high-quality operating assets and strong financial foundations, with talented and dedicated employees, committed to ensuring safe and responsible operations. The transaction simplifies the portfolio of each company, allowing for strategic and financial focus and the ability to pursue tailored capital allocation strategies. It provides investors with choice in response to the evolving investment landscape, and establishes a pathway to full financial separation of the two companies over time.” 

“This transaction

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Senate Democratic Leader Saslaw Among the Retiring Lawmakers

by  on  in Best Business Newspaper

RICHMOND, Va. (AP) — Dick Saslaw, the acerbic, influential, enterprise-welcoming Democratic majority chief of the Virginia Senate, on Thursday declared ideas to retire, expressing he is proud of the legacy he will leave guiding as his just about five many years in point out politics come to a shut.

“Sooner or later on, you know, you have bought to realize that you are going to have to go on. But it’s been a extremely fascinating and a excellent 48 many years,” the 83-calendar year-old Saslaw, whose expression will finish in January, reported in a flooring speech.

A businessman and Army veteran, Saslaw is the longest-serving member of the Senate, which he joined in 1980 immediately after serving 4 many years in the Residence of Delegates. Though representing a northern Virginia district, he has been a resolute defender of abortion rights and a sturdy ally of Dominion Electricity on regulatory issues. He assisted direct the drive for Medicaid expansion and at situations staked out extra centrist positions than quite a few fellow Democrats on legal justice challenges.

Saslaw’s announcement was adopted by an outpouring of bipartisan praise from his colleagues as his wife, Eleanor, looked on from the gallery, along with other admirers, like lobbyists who donned shirts sporting his photo. Numerous speakers seemed shut to tears as they heralded him as a legend in Virginia politics, as nicely as a hard-functioning, loyal and brutally sincere mate and colleague.

“He is the epitome of a Virginia gentleman,” said Republican Sen. Ryan McDougle.

Political Cartoons

An additional Republican, Jill Vogel, stated she was to begin with leery of Saslaw’s hard popularity when she very first joined the Common Assembly and recalled a “terrifying” initially experience with him. But it took just a 7 days or two to be charmed, she claimed.

“He

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Marketing and advertising tips, traps and trends for 2023 – Commentary

by  on  in Advertising & Marketing

Dark patterns
Drip pricing banned
Environmental claims
Virtual influencers
Increased penalty for deceptive marketing
Accessibility
Healthwashing
Competition Bureau takes action against Health Canada licensed product
“Import for personal use” option for regulated products
Power of platforms

This article highlights key tips, traps and trends for advertisers for 2023.

Dark patterns

The term “dark patterns” was first coined over a decade ago but appears to have been more widely on the radar of regulators and consumers only recently. It refers to the use of deceptive user interfaces to manipulate or trick consumers to engage in certain behaviour contrary to their original intention. Dark patterns can encompass a range of tactics, including “roach motel”, “misdirection” and “sneak into a basket”.

Certain jurisdictions, including the United States and the European Union, have introduced new initiatives or actions explicitly addressing dark patterns. In Canada, although the “dark patterns” term is not yet widely used, regulators have also taken action against dark patterns. For example, in 2020, the Competition Bureau warned Canadians about “no-strings attached” trial offers“, following up in 2021 with a fine against a Canadian company of C$15 million for a “subscription trap scam“.

In terms of new legislation, Bill C-27 (currently at second reading), which proposes to replace the Personal Information Protection and Electronic Documents Act with the Consumer Privacy Protection Act, regulates private-related dark patterns. Section 16 states: “An organization must not obtain or attempt to obtain an individual’s consent by providing false or misleading information or using deceptive or misleading practices“. (Emphasis added.)(1)

Drip pricing banned

In Canada, most types of dark patterns are only regulated pursuant to general provisions against:

  • false and misleading advertising (eg, in the Competition Act);
  • unfair practices (eg, in provincial consumer protection legislation); and
  • privacy laws.

However,

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