Seven of the North-east’s best bakers will come together to support industry stalwart

by  on  in Best Business Newspaper

MECHELLE Clark, who is the former owner of Aberdeen’s well-known grilled cheese shop Melt, which closed in 2020 due to the pandemic, has rallied her baking friends together to help raise funds for the local hospital following her shock health scare.

The 41-year-old who has baked all of her life was diagnosed with the BRCA 1 gene six years ago and in 2018 discovered she had breast cancer during an annual check. Mechelle underwent a double mastectomy as well as an 18-hour reconstruction surgery in November 2022. However, complications including developing sepsis have resulted in Mechelle undergoing 11 surgeries to date, with a further two to three expected.

The Big Booby Bakesale will take place at Parx Café on Rubislaw Terrace on Sunday May 5 from 11am to 3pm where customers can purchase goods from the takeaway window that was put to use during the pandemic.

It will raise vital funds for the Plastics and Burns Unit at Aberdeen Royal Infirmary (ARI) where mastectomy reconstructions are carried out. All of the proceeds raised will go towards purchasing new state-of-the-art boxes that can be provided to patients on the ward ahead of their surgeries. The money will also be used to purchase a new piece of much-needed kit for the unit.

Mechelle, who now works at Trellis Coffee Shop in Newburgh, Aberdeenshire as the head baker, has recruited a star-studded line-up of talent from businesses across the city and shire. They include Bandit Bakery, Sourcloud Bakes, Feingeback and The Crusty Slice in Aberdeen, plus The Highlanders Bakehouse in Crathie and The Culinary Kiwi Bird in Insch. The team at Parx Café will also make bread and goodies for the occasion.

Mechelle Clark outside former business premises
Mechelle Clark outside former business premises

All of the bakers will donate their baked goods for the day for free to

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10 doctors on FDA panel for Abbott heart device had financial ties to the company

by  on  in Business Financial News

When the Food and Drug Administration recently convened a committee of advisers to assess a cardiac device made by Abbott, the agency didn’t disclose that most of them had received payments from the company or conducted research it had funded — information readily available in a federal database.

One member of the FDA advisory committee was linked to hundreds of payments from Abbott totaling almost $200,000, according to a database maintained by the Department of Health and Human Services. Another was connected to 100 payments totaling about $100,000 and conducted research supported by about $50,000 from Abbott. A third member of the committee worked on research supported by more than $180,000 from the company.

The government database, called “Open Payments,” records financial relationships between doctors and certain other health care providers and the makers of drugs and medical devices. KFF Health News found records of Abbott payments associated with 10 of the 14 voting members of the FDA advisory panel, which was weighing clinical evidence for a heart device called TriClip G4 System. The money, paid from 2016 through 2022 — the most recent year for which the database shows payments — adds up to about $650,000.

The panel voted almost unanimously that the benefits of the device outweigh its risks. Abbott announced on April 2 that the FDA had approved TriClip, which is designed to treat leakage from the heart’s tricuspid valve.

The Abbott payments illustrate the reach of medical industry money and the limits of transparency at the FDA. They also shed light on how the agency weighs relationships between people who serve on its advisory panels and the makers of drugs and medical devices that those committees review as part of the regulatory approval process.

The payments do not reflect wrongdoing on the part of

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Best Pubs in Scotland revealed

by  on  in Best Business Newspaper

PUBS and bars from across the entirety of the United Kingdom are celebrating after being named the best in their respective counties.

The award wins are part of the 2024 National Pub & Bar Awards, which each year crowns nearly 100 County Winners from England, Wales, Scotland and Northern Ireland, giving each site a unique platform to promote themselves and increase guest footfall from locals and visitors alike.

These pioneering hospitality operators have demonstrated excellence across a number of elements that affect the customer journey, including design, service, style of offer, marketing and investment. The venues now have over two months in which to trade off their win, before making their way to the National Pub & Bar Awards grand final on 26 June.

Held in London, the final will welcome all 94 County Winners to come together and celebrate their achievements, before discovering which venues will go on to become Regional Winners.

The awards night will also crown the Pub Group of the Year, Bar Group of the Year, The Tyrrells Tyrrellbly Good Taste Award – presented by the event’s headline sponsor – and, finally, the overall National Pub & Bar of the Year.

“The fact that we had record entries for the 2024 National Pub & Bar Awards tells us two things,” says Tristan O’Hana, editor of Pub & Bar magazine, which runs the event. “One is how highly the industry regards these accolades, which is fantastic. But, also, it shows that more operators are in need of really positive and strong publicity to help drive business at the moment. Pubs and bars are facing some of the biggest challenges in recent history, so if the National Pub & Bar Awards can help by lifting sales across these venues, then we’re delighted to play our part.”

The National

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Will the BBC go ad-supported? Marketing experts assess broadcaster’s ‘radical’ options as licence fee increase looms | Analysis

by  on  in Advertising & Marketing

Amid the rise of connected TV (CTV), traditional linear channels are in decline, forcing players within the space to find creative solutions to maintain their audiences. For the BBC, iPlayer has served as its answer to competing CTV offerings like Netflix, Disney+, Amazon Prime, and more.

However, CTV itself isn’t immune to problems. The abundance of streamers, channels, and consumption mediums has left audiences fragmented, making them harder to pin down—arguably leading to the rise of advertising solutions like retail media.

CTV itself has seen creative advertising solutions implemented to win over consumers in an increasingly competitive market. Namely, several streamers recently launched both ad-supported and ad-free tiers, as well as Netflix’s option for brands to purchase ad buys on its platform.

The BBC has been left somewhat stuck in the crosshairs—caught between being a linear TV channel and a streaming service. According to the BBC, its TV licence accounted for roughly 65% of its income in 2023, amassing £3.75 (US$4.75) billion of its £5.73 (US$7.26) billion total income.

As it trials a series of strategies to generate new income streams, including a partnership that sees Disney sponsor its popular show Doctor Who, the UK Government announced a £10.50 (US$ 13.30) increase in price for the BBC’s TV licence from £159 (US$ 201) to £169.50 (US$ 214.73) a year as of April 2024.

It has also stated that a review of both the licence and “alternative funding options” is ongoing, as well as a plan to “radically transform and renew” its online offerings, which could potentially see the licence scrapped altogether.

‘It’s important to ensure that accompanying ads are both relevant and personalised to resonate with the target audiences.’

 Paul Briggs, SVP Europe at Silverpush

On the potential impact among audiences and advertisers, Paul Briggs, SVP Europe

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5 Best Business Credit Cards for LLCs of April 2024

by  on  in Business Card Companies

Having a business credit card is important for separating your personal and business expenses. This is especially true for businesses with a more formal structure, such as a limited liability company (LLC). Business credit cards are useful in these situations because they can help you automate expense management for multiple owners and employees. Plus, the right rewards credit card can help you maximize the return you get on your spending.

CNBC Select reviewed dozens of the most popular business credit cards to determine the best options for LLCs. (See our methodology for information on how we choose the top LLC business credit cards).

Best business credit cards for LLCs

Best for travel rewards

Ink Business Preferred® Credit Card

  • Rewards

    Earn 3X points per $1 on the first $150,000 spent in combined purchases in select categories each account anniversary year (travel; shipping purchases; internet, cable and phone services; and advertising purchases with social media sites and search engines), 1X point per $1 on all other purchases

  • Welcome bonus

    Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.

  • Annual fee

  • Intro APR

  • Regular APR

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fee

  • Credit needed

Pros

  • Free employee cards
  • Points are worth 25% more when you redeem for travel through Chase TravelSM
  • 1:1 point transfer to leading frequent travel programs
  • No fee charged on purchases made outside the U.S.
  • Generous welcome bonus worth up to $1,000

Cons

  • $95 annual fee
  • No introductory 0% financing offers for purchases or balance transfers

Best for no annual fee

The Blue Business® Plus Credit Card from American Express

On the American Express secure site

  • Rewards

    Earn 2X Membership Rewards® points on everyday business purchases up to $50,000

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Accenture Acquires Axis Corporate to Help Spanish Financial Services Companies Reinvent their Businesses

by  on  in Business Financial News

Founded in 2005, Axis Corporate is headquartered in Barcelona, with offices in Madrid and Boston. It has long-standing relationships with many of the largest financial services firms in Spain, with expertise primarily in retail and commercial banking, consumer finance and payments. Axis Corporate’s approximately 110 specialized professionals will join Accenture’s Strategy & Consulting practice.


The company provides a wide range of advisory services, including operating model and cost transformation, talent and culture, finance, and sustainability. It also has strong risk management capabilities, with a special focus on helping banks better manage and recover non-performing assets and loans.

“As banks and other providers navigate a continually changing and highly competitive landscape, the need to transform their businesses to offer hyper-personalized and impactful digital customer experiences has never been greater,” said David Cordero, who leads Accenture’s Banking industry group in Europe. “Axis Corporate’s proven operating model expertise across the entire financial services value chain will bolster our ability to accelerate continuous reinvention at scale for our clients.”

Casimiro Gracia, executive chairman at Axis Corporate, said: “We have been a trusted partner to major financial services firms and other industries in Spain for almost 20 years, helping them to accelerate growth and operate more efficiently locally and globally. By joining Accenture, our people can expand their skillsets and participate in new large-scale transformation programs, including around core banking and risk, with clients across the world.”

Mercedes Oblanca, market unit lead for Accenture in Spain and Portugal, said: “With this acquisition, we will be in an even stronger position to help our financial services clients in Spain manage risk, adapt to change and deliver new services. We are delighted to welcome Axis Corporate’s talented team, with its strong track record of enabling companies to accelerate their digital strategies to maximize competitiveness.”

Terms of the

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General Data Protection Regulation (GDPR): What you need to know to stay compliant

by  on  in Business Information Companies

Who within my company is responsible for compliance?

The GDPR defines several roles that are responsible for ensuring compliance: data controller, data processor, and the data protection officer (DPO).

The data controller defines how personal data is processed and the purposes for which it is processed. The controller is also responsible for making sure that outside contractors comply.

[Related: GDPR requirements raise the global data protection stakes]

Data processors may be the internal groups that maintain and process personal data records or any outsourcing firm that performs all or part of those activities. The GDPR holds processors liable for breaches or non-compliance. It’s possible, then, that both your company and processing partner, such as a cloud provider, will be liable for penalties even if the fault is entirely on the processing partner.

The GDPR requires the controller and the processor to designate a DPO to oversee data security strategy and GDPR compliance. Companies are required to have a DPO if they process or store large amounts of EU citizen data, process or store special personal data, regularly monitor data subjects, or are a public authority. Some public entities such as law enforcement may be exempt from the DPO requirement.

What is GDPR in cybersecurity

Many of the GDPR requirements do not relate directly to cybersecurity, but the processes and system changes needed to comply could affect existing security systems and protocols.

The GDPR might also change the mindset of business and security teams toward data. Most companies see their data and the processes they use to mine it as an asset, but that perception will change, says Lewis. “Given GDPR’s explicit consent and firms needing to be much more granular in their understanding of data and data flows, there’s a whole set of liabilities that now exist with

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‘He gave us our most valuable science’: Industry pays tribute to Daniel Kahneman

by  on  in Advertising & Marketing
Feature

Marketing experts remember psychologist Daniel Kahneman, who pioneered insights into how consumers really make decisions.

It’s hard to overstate just how influential Daniel Kahneman was on the modern advertising industry.

The Israeli-American psychologist, who died on 27 March, pioneered behavioural studies into economics and psychology and did more than any academic to add rigour to what advertising creatives have whispered into marketers’ ears for decades: you need to reach people through their hearts and bypass their rational minds.

After the 2011 launch of Kahneman’s seminal work, Thinking Fast and Slow, then ZenithOptimedia head of insight Richard Shotton (now a prominent marketing consultant and Kahneman adherent), said of Kahneman’s core insight: “The idea of consumers making fully reasoned decisions is finally being debunked. Events like the financial crisis and fresh research have successfully challenged the idea that rationality is at the heart of our choices.”

Core to Kahneman’s argument is that humans have two distinct modes of thought: “system 1” is fast, instinctive and emotional; “system 2” is slower, more deliberative and more logical.

According to renowned effectiveness guru Peter Field, Kahneman’s contribution is nothing short of being “the most valuable science that it has”.

“His death leaves a large Daniel-shaped gap in the scientific mosaic of marketing that will not be filled,” Field told The Media Leader.

For another academic who has led the way in making sense of the “attention” that attends to how people consume marketing messages through media, Professor Karen Nelson-Field refers to Kahneman as “attention royalty”.

The Media Leader asked some of the industry’s leading effectiveness researchers and analysts to tell readers why Kahneman made such an impact on media, advertising and marketing.

Peter Field: He revolutionised market research

“I will mourn the loss of Daniel Kahneman immensely and always remain grateful for

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Cheapest Credit Card Processing Companies of April 2024

by  on  in Business Card Companies
To find the cheapest credit card processing company, you’ll want to consider your business’s industry, sales volume, typical transaction size and whether you process payments in person, online or both. Because credit card processing companies often have different pricing structures, no single provider is the cheapest option for all businesses, but these factors can help you estimate and compare credit card processing fees.

In addition to the processing fees themselves, remember to factor in monthly subscription costs and hardware expenses if you plan on accepting card payments in person. To further narrow down options, you can make a list of extra tools and capabilities your business requires.

Here are some of the cheapest credit card processing companies and why they stand out.

Our picks for cheapest credit card processing companies

Helcim: Best for volume discounts

Why we like it: Helcim is a fantastic choice for small businesses looking for low rates and no monthly subscription fees. Its interchange-plus fee structure is a cost-effective option, especially for businesses with high sales volumes, and its website makes it easy to find pricing information. The company’s volume discounts, which are applied automatically as the amount you process increases, are a nice perk to have as your business grows. Read our full Helcim review.
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Average Credit Card Processing Fees and Costs in 2023

by  on  in Business Card Companies

KEY POINTS

  • FEES ON THE RISE: Credit card companies earned $126.4 billion from processing fees in 2022, with plans to increase fees further.
  • PROCESSING FEE VARIANCE: Credit card processing fees for merchants range from 1.3% to 3.5%, depending on the card and transaction type.
  • CONSUMER IMPACT: Higher merchant fees may lead to increased prices for consumers, amidst ongoing debates over swipe fee regulations.

Key findings are powered by ChatGPT and based solely off the content from this article. They are reviewed by Jack Caporal, our research director. The author and editors take ultimate responsibility for the content.

In 2022, credit card companies in the U.S. earned $126.4 billion from processing fees charged to merchants. The money they made from these fees increased at a faster rate than the actual money spent on purchases — and recent reporting suggests that Visa and Mastercard intend to raise fees further in 2023 and early 2024.

Those numbers add fuel to the already fierce debate between credit card companies and businesses that complain about so-called swipe fees.

Businesses claim that raising interchange fees, which are paid by merchants on each transaction made with a credit or debit card, worsen inflation and pinch consumers because businesses could opt to pass the cost of higher interchange fees onto consumers.

Most merchants need to accept credit card payments, which makes credit card processing fees a cost of doing business. For more on how much those costs can be — and how they vary among credit card companies — we’ve collected all the latest data.

What are the average credit card processing fees for merchants?

The average credit card processing fee, sometimes referred to as a “swipe fee,” is 2.24%, according to the Merchant Payments Coalition.

Credit card processing fees for merchants equal approximately 1.3% to 3.5% of

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