Retail Sales For June Provide An Early Boost, But Bond Yields Mostly Calling The Shots

Getty Images

The first week of earnings season wraps up with major indices closely tracking the bond market in Wall Street’s version of “follow the leader.” Earnings absolutely matter, but right now the Fed’s policies are maybe a bigger influence. In the short-term the Fed is still the girl everyone wants to dance with.

Lately, you can almost guess where stocks are going just by checking the 10-year Treasury yield, which often moves on perceptions of what the Fed might have up its sleeve. The yield bounced back from lows this morning to around 1.32%, and stock indices climbed a bit in pre-market trading. That was a switch from yesterday when yields fell and stocks followed suit. Still, yields are down about six basis points since Monday, and stocks are also facing a losing week.

It’s unclear how long this close tracking of yields might last, but maybe a big flood of earnings due next week could give stocks a chance to act more on fundamental corporate news instead of the back and forth in fixed income. Meanwhile, retail sales for June this morning basically blew Wall Street’s conservative estimates out of the water, and stock indices edged up in pre-market trading after the data.

Headline retail sales rose 0.6% compared with the consensus expectation for a 0.6% decline, and with automobiles stripped out, the report looked even stronger, up 1.3% vs. expectations for 0.3%. Those numbers are incredibly strong and show the difficulty analysts are having in this market. The estimates missed consumer strength by a long shot. However, it’s also possible this is a blip in the data that might get smoothed out with July’s numbers. We’ll have to wait and see.

Caution Flag Keeps Waving

Yesterday continued what feels like a “risk-off” pattern that began taking hold earlier in the week, but this time Tech got caught up in the selling, too. In fact, Tech was the second-worst performing sector of the day behind Energy, which continues to tank on ideas more crude could flow soon thanks to OPEC’s agreement.

We already saw investors embracing fixed income and “defensive” sectors starting Tuesday, and Thursday continued the trend. When your leading sectors are Utilities, Staples, Real Estate, the way they were yesterday, that really suggests the surging bond market’s message to stocks is getting read loudly and clearly.

This week’s decline in rates also isn’t necessarily happy news for Financial companies. That being said, the Financials fared pretty well yesterday, with some of them coming back after an early drop. It was an impressive performance and we’ll see if it can spill over into Friday.

Energy helped fuel the rally earlier this year, but it’s struggling under the weight of falling crude prices. Softness in crude isn’t guaranteed to last—and prices of $70 a barrel aren’t historically cheap—but crude’s inability to consistently hold $75 speaks a lot. Technically, the strength just seems to fade up there. Crude is up slightly this morning but still below $72 a barrel.

Losing Steam?

All of the FAANGs lost ground yesterday after a nice rally earlier in the week. Another key Tech name, chipmaker Nvidia (NVDA), got taken to the cleaners with a 4.4% decline despite a major analyst price target increase to $900. NVDA has been on an incredible roll most of the year.

This week’s unexpectedly strong June inflation readings might be sending some investors into “flight for safety” mode, though no investment is ever truly “safe.” Fed Chairman Jerome Powell sounded dovish in his congressional testimony Wednesday and Thursday, but even Powell admitted he hadn’t expected to see inflation move this much above the Fed’s 2% target.

Keeping things in perspective, consider that the S&P 500 Index (SPX) did power back late Thursday to close well off its lows. That’s often a sign of people “buying the dip,” as the saying goes. Dip-buying has been a feature all year, and with bond yields so low and the money supply so huge, it’s hard to argue that cash on the sidelines won’t keep being injected if stocks decline.

Two popular stocks that data show have been popular with TD Ameritrade clients are Apple (AAPL) and Microsoft (MSFT), and both of them have regularly benefited from this “dip buying” trend. Neither lost much ground yesterday, so if they start to rise today, consider whether it reflects a broader move where investors come back in after weakness. However, one day is never a trend.

Reopening stocks (the ones tied closely to the economy’s reopening like airlines and restaurants) are doing a bit better in pre-market trading today after getting hit hard yesterday.

In other corporate news today, vaccine stocks climbed after Moderna (MRNA) was added to the S&P 500. BioNTech (BNTX), which is Pfizer’s (PFE) vaccine partner, is also higher. MRNA rose 7% in pre-market trading.

Strap In: Big Earnings Week Ahead

Earnings action dies down a bit here before getting back to full speed next week. Netflix (NFLX), American Express (AXP), Johnson & Johnson (JNJ), United Airlines (UAL), AT&T (T), Verizon (VZ), American Airlines (AAL) and Coca-Cola (KO) are high-profile companies expected to open their books in the week ahead.

It could be interesting to hear from the airlines about how the global reopening is going. Delta (DAL) surprised with an earnings beat this week, but also expressed concerns about high fuel prices. While vaccine rollouts in the U.S. have helped open travel back up, other parts of the globe aren’t faring as well. And worries about the Delta variant of Covid don’t seem to be helping things.

Beyond the numbers that UAL and AAL report next week, the market may be looking for guidance from their executives about the state of global travel as a proxy for economic health. DAL said travel seems to be coming back faster than expected. Will other airlines see it the same way? Earnings are one way to possibly find out.Even with the Delta variant of Covid gaining steam, there’s no doubt that at least in the U.S, the crowds are back for sporting events.

For example, the baseball All-Star Game this week was packed. Big events like that could be good news for KO when it reports earnings. PepsiCo (PEP) already reported a nice quarter. We’ll see if KO can follow up, and whether its executives will say anything about rising producer prices nipping at the heels of consumer products companies.

Confidence Game: The 10-year Treasury yield sank below 1.3% for a while Thursday but popped back to that level by the end of the day. It’s now down sharply from highs earlier this week. Strength in fixed income—yields fall as Treasury prices climb—often suggests lack of confidence in economic growth.

Why are people apparently hesitant at this juncture? It could be as simple as a lack of catalysts with the market now at record highs. Yes, bank earnings were mostly strong, but Financial stocks were already one of the best sectors year-to-date, so good earnings might have become an excuse for some investors to take profit. Also, with earnings expectations so high in general, it takes a really big beat for a company to impress.

Covid Conundrum: Anyone watching the news lately probably sees numerous reports about how the Delta variant of Covid has taken off in the U.S. and case counts are up across almost every state. While the human toll of this virus surge is certainly nothing to dismiss, for the market it seems like a bit of an afterthought, at least so far. It could be because so many of the new cases are in less populated parts of the country, which can make it seem like a faraway issue for those of us in big cities. Or it could be because so many of us are vaccinated and feel like we have some protection.

But the other factor is numbers-related. When you hear reports on the news about Covid cases rising 50%, consider what that means. To use a baseball analogy, if a hitter raises his batting average from .050 to .100, he’s still not going to get into the lineup regularly because his average is just too low. Covid cases sank to incredibly light levels in June down near 11,000 a day, which means a 50% rise isn’t really too huge in terms of raw numbers and is less than 10% of the peaks from last winter. We’ll be keeping an eye on Covid, especially as overseas economies continue to be on lockdowns and variants could cause more problems even here. But at least for now, the market doesn’t seem too concerned.

Dull Roar: Most jobs that put you regularly on live television in front of millions of viewers require you to be entertaining. One exception to that rule is the position held by Fed Chairman Jerome Powell. It’s actually his job to be uninteresting, and he’s arguably very good at it. His testimony in front of the Senate Banking Committee on Thursday was another example, with the Fed chair staying collected even as senators from both sides of the aisle gave him their opinions on what the Fed should or shouldn’t do. The closely monitored 10-year Treasury yield stayed anchored near 1.33% as he spoke.

Even if Powell keeps up the dovishness, you can’t rule out Treasury yields perhaps starting to rise in coming months if inflation readings continue hot and investors start to lose faith in the Fed making the right call at the right time. Eventually people might start to demand higher premiums for taking on the risk of buying bonds. The Fed itself, however, could have something to say about that.

It’s been sopping up so much of the paper lately that market demand doesn’t give you the same kind of impact it might have once had. That’s an argument for bond prices continuing to show firmness and yields to stay under pressure, as we’ve seen the last few months. Powell, for his part, showed no signs of being in a hurry yesterday to lift any of the stimulus.

TD Ameritrade® commentary for educational purposes only. Member SIPC.

Follow me on Twitter.

I am Chief Market Strategist for TD Ameritrade and began my career as a Chicago Board Options Exchange market maker, trading primarily in the S&P 100 and S&P 500 pits. I’ve also worked for ING Bank, Blue Capital and was Managing Director of Option Trading for Van Der Moolen, USA. In 2006, I joined the thinkorswim Group, which was eventually acquired by TD Ameritrade. I am a 30-year trading veteran and a regular CNBC guest, as well as a member of the Board of Directors at NYSE ARCA and a member of the Arbitration Committee at the CBOE. My licenses include the 3, 4, 7, 24 and 66.

Source: Retail Sales For June Provide An Early Boost, But Bond Yields Mostly Calling The Shots

.

Critics:

Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. Retailers satisfy demand identified through a supply chain. The term “retailer” is typically applied where a service provider fills the small orders of many individuals, who are end-users, rather than large orders of a small number of wholesale, corporate or government clientele. Shopping generally refers to the act of buying products.

Sometimes this is done to obtain final goods, including necessities such as food and clothing; sometimes it takes place as a recreational activity. Recreational shopping often involves window shopping and browsing: it does not always result in a purchase.

Most modern retailers typically make a variety of strategic level decisions including the type of store, the market to be served, the optimal product assortment, customer service, supporting services and the store’s overall market positioning. Once the strategic retail plan is in place, retailers devise the retail mix which includes product, price, place, promotion, personnel, and presentation.

In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar and online retailing. Digital technologies are also changing the way that consumers pay for goods and services. Retailing support services may also include the provision of credit, delivery services, advisory services, stylist services and a range of other supporting services.

Retail shops occur in a diverse range of types of and in many different contexts – from strip shopping centres in residential streets through to large, indoor shopping malls. Shopping streets may restrict traffic to pedestrians only. Sometimes a shopping street has a partial or full roof to create a more comfortable shopping environment – protecting customers from various types of weather conditions such as extreme temperatures, winds or precipitation. Forms of non-shop retailing include online retailing (a type of electronic-commerce used for business-to-consumer (B2C) transactions) and mail order

Why Wall Street Is Afraid of Government-Backed Digital Dollar

Imagine Imagine logging on to your own account with the U.S. Federal Reserve. With your laptop or phone, you could zap cash anywhere instantly. There’d be no middlemen, no fees, no waiting for deposits or payments to clear.

That vision sums up the appeal of the digital dollar, the dream of futurists and the bane of bankers. It’s not the Bitcoin bros and other cryptocurrency fans pushing the disruptive idea but America’s financial and political elite. Fed Chair Jerome Powell promises fresh research and a set of policy questions for Congress to ponder this summer. J. Christopher Giancarlo, a former chairman of the Commodity Futures Trading Commission, is rallying support through the nonprofit Digital Dollar Project, a partnership with consulting giant Accenture Plc. To perpetuate American values such as free enterprise and the rule of law, “we should modernize the dollar,” he recently told a U.S. Senate banking subcommittee.

For now the dollar remains the premier global reserve currency and preferred legal tender for international trade and financial transactions. But a new flavor of cryptocurrency could pose a threat to that dominance, which is part of the reason the Federal Reserve Bank of Boston has been working with the Massachusetts Institute of Technology on developing prototypes for a digital-dollar platform.

Other governments, notably China’s, are ahead in digitizing their currencies. In these nations, regulators worry that the possibilities for fraud are multiplying as more individuals embrace cryptocurrency. Steven Mnuchin, former President Donald Trump’s treasury secretary, said he saw no immediate need for a digital dollar. His successor, Janet Yellen, has expressed interest in studying it. Support for a virtual greenback cuts across party lines in Congress, which will have a say on whether it becomes reality.

At a hearing in June, Senators Elizabeth Warren, a Massachusetts Democrat, and John Kennedy, a Louisiana Republican, signaled openness to the idea. Warren and other Democrats stressed the potential of the digital dollar to offer free services to low-income families who now pay high banking fees or are shut out of the system altogether.

Kennedy and fellow Republicans see a financial equivalent of the space race that pitted the U.S. against the Soviet Union—a battle for prestige, power, and first-mover advantage. This time the adversary is China, which announced this month that more than 10 million citizens are now eligible to participate in ongoing trials.

The strongest opposition to a virtual dollar will come from U.S. banks. They rely on $17 trillion in deposits to fund much of their core business, profiting from the difference between what they pay in interest to account holders and what they charge for loans. Banks also earn billions of dollars annually from overdraft, ATM, and account maintenance fees. By creating a digital currency, the Federal Reserve would in effect be competing with banks for customers.

In a recent blog post, Greg Baer, president of the Bank Policy Institute, which represents the industry, warned that homebuyers, businesses, and other customers would find it harder and more expensive to borrow money if the Fed were to infringe on the private sector’s historical central role in finance. “The Federal Reserve would gain extraordinary power,” wrote Baer, a former assistant treasury secretary in the Clinton administration.

Some economists warn that a digital dollar could destabilize the banking system. The federal government offers bank depositors $250,0000 in insurance, a program that’s successfully prevented bank runs since the Great Depression. But in a 2008-style financial panic, depositors might with a single click pull all their savings out of banks and convert them into direct obligations of the U.S. government.

“In a crisis, this may actually make matters worse,” says Eswar Prasad, a professor at Cornell University and the author of a book on digital currencies that will be published in September. Whether a virtual dollar is even necessary remains up for debate. For large companies, cross-border interbank payments are already fast, limiting the appeal of digital currencies. Early adopters of Bitcoin may have won an investment windfall as its value soared, but its volatility makes it a poor substitute for a reliable government-backed currency such as the dollar.

Yet there’s a new kind of crypto, called stablecoin, that could pose a threat to the dollar’s dominance. Similar to the other digital currencies, it’s essentially a string of code tracked and authenticated via an online ledger. But it has a crucial difference from Bitcoin and its ilk: Its value is pegged to a sovereign currency like the dollar, so it offers stability as well as privacy.

In June 2019, Facebook Inc. announced it was developing a stablecoin called Libra ( since renamed Diem). The social media giant’s 2.85 billion active users worldwide represent a huge test market. “That was a game changer,” Prasad says. “That served as a catalyst for a lot of central banks.”

Regulators also have concerns about consumer protection. Stablecoin is only as stable as the network of private participants who manage it on the web. Should something go wrong, holders could find themselves empty-handed. That prospect places pressure on governments to come up with their own alternatives.

Although the Fed has been studying the idea of a digital dollar since at least 2017, crucial details, including what role private institutions will play, remain unresolved. In the Bahamas, the only country with a central bank digital currency, authorized financial institutions are allowed to offer e-wallets for handling sand dollars, the virtual counterpart to the Bahamian dollar.

If depositors flocked to the virtual dollar, banks would need to find another way to fund their loans. Advocates of a digital dollar float the possibility of the Fed lending to banks so they could write loans. To help banks preserve deposits, the government could also set a ceiling on how much digital currency citizens can hold. In the Bahamas the amount is capped at $8,000.

Lev Menand, an Obama administration treasury adviser, cautions against such compromises, saying the priority should be offering unfettered access to a central bank digital currency, or CBDC. Menand, who now lectures at Columbia Law School, says that because this idea would likely require the passage of legislation, Congress faces a big decision: to create “a robust CBDC or a skim milk sort of product that has been watered down as a favor to big banks.”

By: Christopher Condon

Source: Cryptocurrency: Why Wall Street Is Afraid of Government-Backed Digital Dollar – Bloomberg

.

Critics:

Wall Street is warming up to the idea that the next big disruptive force on the horizon is central bank digital currencies, even though the Federal Reserve likely remains a few years away from developing its own.

Led by countries as large as China and as small as the Bahamas, digital money is drawing stronger interest as the future of an increasingly cashless society. A digital dollar would resemble cryptocurrencies such as bitcoin or ethereum in some limited respects, but differ in important ways.

Rather than be a tradable asset with wildly fluctuating prices and limited use, the central bank digital currency would function more like dollars and have widespread acceptance. It also would be fully regulated and under a central authority.

Myriad questions remain before an institution as large as the Fed will wade in. But the momentum is building around the world. As the Fed and other central banks work through those logistical issues, Wall Street is growing in anticipation over what the future will hold.

“The race towards Digital Money 2.0 is on,” Citigroup said in a report. “Some have framed it as a new Space Race or Digital Currency Cold War. In our view, it doesn’t have to be a zero sum game — there’s a lot of room for the overall digital pie to grow.”

There, however, has been at least the semblance of a race, and China is perceived as taking the early lead. With the launch of a digital yuan last year, some fear that the edge China has ultimately could undermine the dollar’s status as the world’s reserve currency. Though China said that is not its objective, a Bank of America report notes that issuing digital dollars would let the U.S. currency “remain highly competitive … relative to other currencies.”

References:

Google Hit With $593 Million Fine In France For Failing To Ink Deal With News Publishers

FRANCE-ECONOMY-TECHNOLOGY-VIVATECH

Google was hit with a $593 million (€500 Million) fine by antitrust regulators in France on Monday after the company failed to offer a fair deal to local publishers for hosting their news content on its platform, adding to the list of several large fines the U.S. tech giant has copped in Europe in the past few years.

The ruling comes after Google failed to comply with an April 2020 decision by the French regulators to negotiate a deal “in good faith” with publishers to carry snippets of their content on its Google News platform. As part of the ruling, the French Competition Authority has ordered Google to come up with an remuneration offer for its use of the news snippets within two months.

If the tech giant fails to meet the deadline, it will face penalty payments of up to $1 million (€900,000) per day of delay. In a statement shared with Forbes, Google said it was “very disappointed” with the ruling and it believes it had “acted in good faith throughout the entire process.” The company added that it is about to reach a global licensing agreement with the French news agency, Agence France-Presse (AFP), but did not provide a timeline.

Google will be able to appeal Tuesday’s fine, but it is unclear if it will choose to do so.

Crucial Quote

“The sanction of 500 million euros takes into account the exceptional seriousness of the breaches observed and how Google’s behavior has led to further delay of the proper application of the law…which aimed to better take into account the value of content from publishers and news agencies included on the platforms,” Isabelle de Silva, president of the French Competition Authority said in an official statement.

Surprising Fact

Tuesday’s fine is the second-biggest antitrust penalty a single company has faced in France. Last year, the competition regulator hit Apple with a $1.2 billion fine after the company was found to have signed anti-competitive agreements with two distributors over the sale of non-iPhone products such as Apple Mac computers. Apple has appealed the ruling.

Key Background

Publishers in Europe have clashed with Google multiple times in the past year, accusing the tech giant of luring away billions of euros in advertising money from the publishers while leveraging their content. Particularly contentious has been the company’s Google News platform which hosts snippets of news stories from publishers without paying them. On the flipside, publishers are unable to yank their content from Google’s platform as they rely on it heavily to drive traffic to their sites.

Earlier this year, Google managed to reach a $76 million deal to pay a group of 121 French Newspapers. But the AFP and other French publishers who were not part of the deal expressed anger and slammed Google for being opaque. De Silva has dismissed that deal and criticized Google for limiting the scope of the negotiations, excluding agency content like photos, and offering to pay the same amount for news content that it does for dictionary listings or weather information.

Further Reading

Google Fined $593 Million By French Antitrust Agency (Bloomberg)

Follow me on Twitter. Send me a secure tip.

I am a Breaking News Reporter at Forbes, with a focus on covering important tech policy and business news. Graduated from Columbia University with an MA in Business and Economics Journalism in 2019. Worked as a journalist in New Delhi, India from 2014 to 2018. Have a news tip? DMs are open on Twitter @SiladityaRay or drop me an email at siladitya@protonmail.com.

Source: Google Hit With $593 Million Fine In France For Failing To Ink Deal With News Publishers

.

Critics:

Google said it was very disappointed with the decision but would comply. “Our objective remains the same: we want to turn the page with a definitive agreement. We will take the French Competition Authority’s feedback into consideration and adapt our offers,” the U.S. tech giant said.

A Google spokesperson added: “We have acted in good faith throughout the entire process. The fine ignores our efforts to reach an agreement, and the reality of how news works on our platforms.”

The framework agreement, which many other French media outlets criticized, was one of the highest-profile deals under Google’s “News Showcase” programme to provide compensation for news snippets used in search results, and the first of its kind in Europe.

Google agreed to pay $76 million over three years to a group of 121 French news publishers to end the copyright row, documents seen by Reuters showed. It followed months of bargaining between Google, French publishers and news agencies over how to apply the revamped EU copyright rules, which allow publishers to demand a fee from online platforms showing extracts of their news. read more

Ransomware gang REvil’s websites become unreachable

Apple’s potential ‘buy now, pay later’ plan sends sector tumbling

Americas Faced with rare protests, Cuba curbs social media access, watchdog says

Altan Redes files for bankruptcy protection in Mexico

ECB to launch digital euro project

Can Reddit’s silver “apes” beat the market?

Biden taps ex-Pentagon official for key China tech position

FCC votes to finalize program to replace Huawei equipment in U.S networks

Google Maps Offensive Continues as Apple Begins Mapping New Regions

While Apple Maps is said to be a solid alternative to Google Maps, it’s not necessarily a secret that Apple’s app isn’t quite here yet. Especially outside of the United States, as Apple has often been extremely slow when it comes to rolling out new features for users who don’t live in the company’s home market.

Apple Maps, for example, has already received massive updates in the United States, including better maps and new features like traffic information with road signs and traffic light warnings, but this new experience continues to be available in limited markets.

But on the other hand, the iPhone maker is working tirelessly to expand Apple Maps to more markets, as the company itself knows it’s pretty much the only way to compete with Google Maps.

And more recently, Apple sent its fleet of Subaru Impreza used for data collection to Austria, with the mapping process due to start today. The company hasn’t shared any information on how long the entire process will take, but according to local media, Apple just wants to focus on vehicle-based data for now, so foot mapping wouldn’t take place. as part of this first step in the process.

This is probably a sign that Apple wants to improve the navigation component of its app, although time will tell how quickly the new data will be available to users in Austria.

The good news is that Apple is indeed making very good progress when it comes to expanding Apple Maps to more regions. Right now, this is one of the biggest shortcomings of using Apple Maps compared to alternatives like Google Maps, as the preloaded app on iPhones still lacks map data. updated and new features in many major markets.

Apple has yet to confirm Apple Maps’ expansion in Austria, but expect to see the company’s Subaru Imprezas on the streets of the country for several months.

After Apple hinted it was parting ways with Google Maps for its own proprietary system and application, Google is firing back, announcing it has new mapping technology ahead of Apple’s World Wide Developer Conference. In an invite sent to press last week, Google promised to “show off some of the newest technology and give a sneak peak at upcoming features,” according to CNET.

No word yet on whether the mapping technology will be for Google’s Chrome browser or for android phones or both, but mobile support seems likely. Will Google’s new application include something similar to Apple’s powerful new 3-D mode, which, according to 9-to-5 Mac, boasts “beautiful, realistic graphics”? Stay tuned as Map Wars 2012 continues.

Source: Google Maps offensive continues as Apple begins mapping new regions – OLTNEWS

.

Critics:

The Google Maps apps for iOS and Android have many of the same features, including turn-by-turn navigation, street view, and public transit information.Turn-by-turn navigation was originally announced by Google as a separate beta testing app exclusive to Android 2.0 devices in October 2009. The original standalone iOS version did not support the iPad, but tablet support was added with version 2.0 in July 2013. An update in June 2012 for Android devices added support for offline access to downloaded maps of certain regions, a feature that was eventually released for iOS devices, and made more robust on Android, in May 2014.

At the end of 2015 Google Maps announced its new offline functionality, but with various limitations – downloaded area cannot exceed 120,000 square kilometres and require a considerable amount of storage space. In January 2017, Google added a feature exclusively to Android that will, in some U.S. cities, indicate the level of difficulty in finding available parking spots, and on both Android and iOS, the app can, as of an April 2017 update, remember where users parked. In August 2017, Google Maps for Android was updated with new functionality to actively help the user in finding parking lots and garages close to a destination.

In December 2017, Google added a new two-wheeler mode to its Android app, designed for users in India, allowing for more accessibility in traffic conditions. In 2019 the android version introduced the new feature called live view that allows to view directions directly on the road thanks to augmented reality Google Maps won the 2020 Webby Award for Best User Interface in the category Apps, Mobile & Voice. In March 2021, Google added a feature in which user can draw missing roads.

In 2005 the Australian Nuclear Science and Technology Organisation (ANSTO) complained about the potential for terrorists to use the satellite images in planning attacks, with specific reference to the Lucas Heights nuclear reactor; however, the Australian Federal government did not support the organization’s concern. At the time of the ANSTO complaint, Google had colored over some areas for security (mostly in the US), such as the rooftop of the White House and several other Washington, D.C., US buildings.

In October 2010, Nicaraguan military commander Edén Pastora stationed Nicaraguan troops on the Isla Calero (in the delta of the San Juan River), justifying his action on the border delineation given by Google Maps. Google has since updated its data which it found to be incorrect.

On January 27, 2014, documents leaked by Edward Snowden revealed that the NSA and the GCHQ intercepted Google Maps queries made on smartphones, and used them to locate the users making these queries. One leaked document, dating to 2008, stated that “[i]t effectively means that anyone using Google Maps on a smartphone is working in support of a GCHQ system.

References

5 Myths About Flexible Work

Flexibility might be great in theory, but it just doesn’t work for us. We have literally heard this statement hundreds of times over the years. It doesn’t matter what industry we’re talking about — whether it’s tech, government, finance, healthcare, or small business, we’ve heard it. There’s always someone who works from the premise that “there’s no way flexible work policies can work in our organization.”

In reality, flexible work policies can work in any industry. The last twelve months of the pandemic have proven this. In fact, a recent Harvard Business School Online study showed that most professionals have excelled in their jobs while working from home, and 81% either don’t want to go back to the office or would choose a hybrid schedule post-pandemic. It’s important to recognize, however, that flexibility doesn’t always look the same — one size definitely does not fit all.

The Myth of the Five C’s

You may be wondering, “If you can recruit the best candidates, increase your retention rates, improve your profits, and advance innovation by incorporating a relatively simple and inexpensive initiative, then why haven’t more organizations developed flex policies?” This question will be even harder for organizations to ignore after we’ve experienced such a critical test case during the Covid-19 pandemic.

Insight Center Collection

Building Tomorrow’s Workforce

How the best companies identify and manage talent. We believe fear has created stumbling blocks for many organizations when it comes to flexibility. Companies either become frozen by fear or they become focused by fear. It is focus that can help companies pivot during challenging times. In the years that we’ve been working with companies on flexibility, we’ve heard countless excuses and myths for why they have not implemented a flex policy. In fact, the Diversity & Flexibility Alliance has boiled these myths down to the fear of losing the 5 C’s:
  1. Loss of control
  2. Loss of culture
  3. Loss of collaboration
  4. Loss of contribution
  5. Loss of connection

Addressing the Fears

Myth #1: Loss of Control

Executives are often worried that they’ll open Pandora’s box and set a dangerous precedent if they allow some employees to work flexibly. They worry that if they let a few employees work from home, then the office will always be empty and no one will be working. The answer to this is structure and clarity. We can virtually guarantee that any organization that correctly designs and implements their flexibility policy will not lose anything.

To maintain control and smooth operation of your organization, it’s imperative that you set standards and clearly communicate them. Organizations should provide clear guidelines on the types of flexibility offered (for example, remote work, reduced hours, asynchronous schedules, job sharing and/or compressed work weeks) and create a centralized approval process for flexibility to ensure that the system is equitable. It is also helpful to have a calendar system for tracking when and where each team member is working.

You must also commit to training everyone on these standards — from those working a flexible schedule, to those supervising them, to all other coworkers. Education and training will help your team avoid “flex stigma,” where employees are disadvantaged or viewed as less committed due to their flexibility. Training can also help organizations to ensure that successful systems and structures that support flexibility are maintained.

Myth #2: Loss of Culture

While you may not see every employee every day, and you may not be able to have lunch with people every day, culture does not have to suffer with a flexible work initiative. However, it is essential that teams meet either in person or via video conference on a regular basis. At the Alliance, we recommend that companies and firms first define what culture means to their individual organization and then determine how they might maintain this culture in a hybrid or virtual environment.

Many organizations with whom we’ve worked reported that they found creative ways to maintain culture during months of remote working during the pandemic. Many Alliance members organized social functions like virtual exercise classes, cooking classes, happy hours, and team-building exercises to maintain community. Additionally, it’s important to take advantage of the days when everyone is physically present to develop relationships, participate in events, and spend one-to-one time with colleagues.

Myth # 3: Loss of Collaboration

As long as teams that are working a flexible schedule commit to regular meetings and consistent communication, then collaboration will not be compromised. It’s important for all team members to maintain contact (even if it’s online), keep tabs on all projects, and be responsive to emails and phone calls. We always recommend that remote teams also meet in person occasionally to maintain personal contact and relationships.

For collaboration to be successful, remote employees must not be held to a higher standard that those working in the office. Additionally, technology should be used to enhance collaboration. For example, when companies are bringing teams together for brainstorming sessions, virtual breakout rooms can facilitate small group collaboration and help to ensure that all voices are heard. Some organizational leaders have also incorporated regular virtual office hours for unscheduled feedback and informal collaboration.

Myth #4: Loss of Contribution

We have often heard leaders say: “If employees are not physically at their desks in the office, then how will we know that they’re actually working?” But with endless distractions available on computers these days (from online shopping, to Instagram, to Facebook, etc.) you really don’t know what your employees are doing at their desks, even if they are in the office.

In fact, they could be searching for a new job (that offers flexibility!) right before your eyes. It’s important to clearly communicate what is expected of each individual and trust that they will complete the job within the expected timeframe. All employees should be evaluated on the quality of their work and their ability to meet clearly defined performance objectives, rather than on time spent in the office.

Myth #5: Loss of Connection

Technology now enables people to connect at any time of the day in almost any locationMeetings can be held through a myriad of video conferencing applications. Additionally, calendar-sharing apps can help to coordinate team schedules and assist with knowing the availability of team members. Even networking events can now be done virtually. For example, one of our team members created a system for scheduling informal virtual coffee chats between partners and associates to maintain opportunities for networking and mentoring during the pandemic.

It’s important to know what your employees and stakeholders prefer in terms of in-person, hybrid, or virtual-only connection. In a recent survey conducted by BNI of over 2,300 people from around the world, the networking organization asked the participants if they would like their meetings to be: 1) in-person only, 2) online only, or 3) a blend of online and in-person meetings.

One third of the participants surveyed said that they wanted to go back completely to in-person meetings. However, 16% wanted to stick with online meetings only, and almost 51% of the survey respondents were in favor of a blend of meeting both in-person and online. This is a substantial transition from the organizational practice prior to the pandemic, with a full two-thirds of the organization saying that they would prefer some aspect of online meetings to be the norm in the future.

A recent 2021 KPMG CEO Outlook Pulse Survey found that almost half of the CEOs of major corporations around the world do not expect to see a return to “normal” this year. Perhaps a silver lining of the pandemic will be that corporate leaders have overcome their fears of the 5C’s and will now understand how flexibility can benefit their recruitment and retention efforts — not to mention productivity and profitability.

By:Manar Morales & Ivan Misner

Source: 5 Myths About Flexible Work

.

Critics:

A flexible work arrangement (FWA) empowers an employee to choose what time they begin to work, where to work, and when they will stop work. The idea is to help manage work-life balance and benefits of FWA can include reduced employee stress and increased overall job satisfaction. On the contrary, some refrain from using their FWA as they fear the lack of visibility can negatively affect their career.

Overall, this type of arrangement has a positive effect on incompatible work/family responsibilities, which can be seen as work affecting family responsibilities or family affecting work responsibilities. FWA is also helpful to those who have a medical condition or an intensive care-giving responsibility, where without FWA, part-time work would be the only option.

Types of flexible work arrangements

References

How The Power Of Predictive Analytics Can Transform Business

Tableau analytics visual

With the acceleration of digital transformation in business, most CTOs, CIOs, and even middle management or analysts are now asking, “What’s next with data?” and what ongoing role will technology play in both digital and data transformations. Other questions that keep these individuals up at night include:

  • How can people throughout all organizational levels be more empowered to use data and help others make better decisions?
  • What prevents people from more deeply exploring and using data?
  • In what ways can analytics tools and methods help more people use data in the daily routine of business—asking questions, exploring hypotheses, and testing ideas?

With this in mind, plus observations and discussions with many Tableau customers and partners, it seems that today’s circumstances, behaviors, and needs make it the right time for predictive data analytics to help businesses and their people solve problems effectively.

Current realities and barriers to scale smarter decision-making with AI 

With growing, diverse data sets being collected, the analytics use cases to transform data into valuable insights are growing just as fast. Today, a wide range of tools and focused teams specialize in uncovering data insights to inform decision-making, but where organizations struggle is striking the right balance between activating highly technical data experts and business teams with deep domain experience.

Until now, using artificial intelligence (AI), machine learning (ML), and other statistical methods to solve business problems was mostly the domain of data scientists. Many organizations have small data science teams focused on specific, mission-critical, and highly scalable problems, but those teams usually have a long project list to handle.

At the same time though, there are a large number of business decisions that rely on experience, knowledge, and data—and that would greatly benefit from applying more advanced analysis techniques. People with domain knowledge and proximity to the business data could benefit greatly, if they had access to these techniques.

Instead, there’s currently a back-and-forth process of relying on data scientists and ML practitioners to build and deploy custom models—a cycle that lacks agility and the ability to iterate quickly. By the end, the data that the model was trained on could be stale and the process starts again. But organizations depend on business users to make key decisions daily that don’t rise to the priority level of their central data science team.

The opportunity to solve data science challenges

This is where there’s an opportunity to democratize data science capabilities, minimizing the trade-offs between extreme precision and control versus the time to insight—and the ability to take action on these insights. If we can give people tools or enhanced features to better apply predictive analytics techniques to business problems, data scientists can gain time back to focus on more complex problems. With this approach, business leaders can enable more teams to make data-driven decisions while continuing to keep up with the pace of business. Additional benefits gained from democratizing data science in this way include:

  • Reducing data exploration and prep work
  • Empowering analyst experts to deliver data science outputs at lower costs
  • Increasing the likelihood of producing successful models with more exploration of use cases by domain experts
  • Extending, automating, and accelerating analysis for business groups and domain experts
  • Reducing time and costs spent on deploying and integrating models
  • Promoting responsible use of data and AI with improved transparency and receiving guidance on how to minimize or address bias

Business scenarios that benefit from predictive analytics 

There are several business scenarios where predictive capabilities can be immensely useful.

Sales and marketing departments can apply it to lead scoring, opportunity scoring, predicting time to close, and many other CRM-related cases. Manufacturers and retailers can use it to help with supply chain distribution and optimization, forecasting consumer demand, and exploring adding new products to their mix. Human resources can use it to assess the likelihood of candidates accepting an offer, and how they can adjust salary and benefits to meet a candidate’s values. And companies can use it to explore office space options and costs. These are just a few of the potential scenarios.

A solution to consider: Tableau Business Science

We are only at the beginning of exploring what predictive capabilities in the hands of people closely aligned with the business will unlock. AI and ML will continue to advance. More organizations, in a similar focus as Tableau, will also keep looking for techniques that can help people closest to the business see, understand, and use data in new ways to ask and answer questions, uncover insights, solve problems, and take action.

This spring Tableau introduced a new class of AI-powered analytics that gives predictive capabilities to people who are close to the business. In this next stage of expanded data exploration and use, we hope business leaders embrace data to help others make better decisions, and to provide transparent insight into the factors influencing those decisions.

When people can think with their data—when analysis is more about asking and answering questions than learning complex software or skills—that’s when human potential will be unleashed, leading to amazing outcomes. Learn more about Tableau Business Science, what this technology gives business teams, and the value it delivers to existing workflows.

Olivia Nix is a Senior Manager of Product Marketing at Tableau. She leads a team focused on the use of AI and ML in analytics and engagement, including how to use technology to enable more people in organizations to make data-driven decisions. Olivia has been at Tableau for four years where she has worked closely with development teams on new product launches. Prior to Tableau, Olivia worked as an analyst at the Pew Center on Global Climate Change (now C2ES) and Johnson Controls. She has her MBA from the UCLA Anderson School of Management.

Source: How The Power Of Predictive Analytics Can Transform Business

.

Critics:

Predictive analytics encompasses a variety of statistical techniques from data mining, predictive modelling, and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events.

In business, predictive models exploit patterns found in historical and transactional data to identify risks and opportunities. Models capture relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision-making for candidate transactions.

The defining functional effect of these technical approaches is that predictive analytics provides a predictive score (probability) for each individual (customer, employee, healthcare patient, product SKU, vehicle, component, machine, or other organizational unit) in order to determine, inform, or influence organizational processes that pertain across large numbers of individuals, such as in marketing, credit risk assessment, fraud detection, manufacturing, healthcare, and government operations including law enforcement.

Predictive analytics is used in actuarial science,marketing,business management, sports/fantasy sports, insurance,policing, telecommunications,retail, travel, mobility, healthcare, child protection, pharmaceuticals,capacity planning, social networking and other fields.

One of the best-known applications is credit scoring,[1] which is used throughout business management. Scoring models process a customer’s credit history, loan application, customer data, etc., in order to rank-order individuals by their likelihood of making future credit payments on time.

Predictive analytics is an area of statistics that deals with extracting information from data and using it to predict trends and behavior patterns. The enhancement of predictive web analytics calculates statistical probabilities of future events online. Predictive analytics statistical techniques include data modeling, machine learning, AI, deep learning algorithms and data mining.Often the unknown event of interest is in the future, but predictive analytics can be applied to any type of unknown whether it be in the past, present or future.

For example, identifying suspects after a crime has been committed, or credit card fraud as it occurs.The core of predictive analytics relies on capturing relationships between explanatory variables and the predicted variables from past occurrences, and exploiting them to predict the unknown outcome. It is important to note, however, that the accuracy and usability of results will depend greatly on the level of data analysis and the quality of assumptions.

Predictive analytics is often defined as predicting at a more detailed level of granularity, i.e., generating predictive scores (probabilities) for each individual organizational element. This distinguishes it from forecasting. For example, “Predictive analytics—Technology that learns from experience (data) to predict the future behavior of individuals in order to drive better decisions.”In future industrial systems, the value of predictive analytics will be to predict and prevent potential issues to achieve near-zero break-down and further be integrated into prescriptive analytics for decision optimization.

See also

Facebook, Apple and The War Over Social Media Influencers

In this photo illustration the Apple and Facebook logos are...

Facebook, good. Apple, bad. Facebook, good. Everyone else, bad.

That’s a little reductive but essentially the message put out today by Mark Zuckerberg. Writing on his personal Facebook page, Zuckerberg announced that Facebook won’t take a cut of any earnings that influencers earn on its platform through a growing number of Facebook products until 2023—and when it does start, its fees will be “less than the 30% that Apple and others take.” In addition, Zuckerberg said Facebook would shortly release a helpful little dashboard for influencers to (ostensibly) better manage their earnings and see which companies take a portion of their income.

There’s a lot at stake here. To start, Zuckerberg has increasingly pinned a portion of Facebook’s hopes for future growth on creators and has announced a slew of new initiatives over the past year to encourage influencers to build audiences on Facebook products. Among other things, Facebook plans to roll out audio features with subscription plans, introduce a marketplace where brands and influencers can link up and launch a subscription newsletter service, Bulletin.

Complicating matters is the fact that many other rival companies—TikTok, Snapchat and YouTube, to name only a few—are working on similar things. As well as the fact that Facbeook and Instagram spent many years largely ignoring the influencers on its platforms, while those rivals did a better job at cultivating them and introducing opportunities to earn money off their newfound fame, making those sites a more diserable destination.

To help Facebook stand out, Zuckerberg is willing to do something the others probably aren’t: Let creators earn money on the site without taking a portion of those dollars. Those smaller companies are likely going to be more eager to show investors that these new creator-focused products generate money.

Facebook, by contrast, has the enviable position of . . . not really needing the money. It earned a $9.5 billion profit alone last year and has over $60 billion just in cash. Keeping creators happy and earning money on Facebook keeps them from running off to other sites, taking Facebook users with them. Users have been—and will continue to be—the real moneymakers for Facebook, the people who look at the ads that do make up the majority of the company’s revenue.

The second factor in all this is the burgeoning grudge match between Facebook and Apple—and between Apple and other parts of Big Tech. Apple recently introduced changes to its operating system that will make it harder for Facebook to earn money off ads, part of a larger disagreement between Facebook and Apple over data privacy on the internet.

For its part in the war, Facebook will be doing things like Monday’s announcement: finding ways to paint Apple’s policies as stifling to small businesses on the Web. (Facebook’s timing was blantantly conspicuous, Zuckerberg’s post coming a few hours before Apple begins its much-watched annual developers’ conference.)

Of course, other companies are taking the opportunity to do the same thing to Apple. Less than a month ago, a trial concluded between Apple and Fornite-maker Epic Games over Apple’s allegedly monopolistic grip on large swaths of the internet, a fight also first sparked over fees and a disagreement over who should earn what.

I’m a senior editor at Forbes, where I cover social media, creators and internet culture. In the past, I’ve edited across Forbes magazine and Forbes.com.

Source: Facebook, Apple—And The War Over Social Media Influencers

.

Critics:

It’s a bit simplistic, but it’s the message Mark Zuckerberg is conveying today. Writing on his non-public Facebook page, Zuckerberg announced that Facebook will not take any reduction in the profits influencers make on its platform through a number in Facebook product development until 2023, and when it starts, its fees will be “less than the 30% that Apple and others take. In addition, Zuckerberg said Facebook would soon launch a useful little panel so influencers can (apparently) better manage their profits and see which corporations take part in their profits.

The stakes are high here. For starters, Zuckerberg has placed some of Facebook’s hopes for long-term expansion on creators and announced a series of new projects over the next year to inspire influencers to create audiences on Facebook products. Among other things, Facebook. plans to implement audio features with subscription plans, introduce a marketplace where brands and influencers can connect, and launch a subscription newsletter service, Newsletter.

To complicate matters, many other rival corporations (TikTok, Snapchat and YouTube, to name a few) are running similar things, as well as the fact that Facbeook and Instagram have spent many years largely ignoring influencers on their platforms, while rivals have done more of a job cultivating them and introducing opportunities to make money through their newfound fame. , making those sites a more disadvantageous destination.

.

 

The Wacky Meditation Tool That Serial Entrepreneur Rob Dyrdek Swears

Rob Dyrdek takes a measured approach to his daily activities. The serial entrepreneur and venture studio founder, who happens to also host MTV’s hit show Ridiculousnessa comedy show featuring famous guests like Kylie Jenner–says he schedules out nearly every minute of every day on his calendar, with the goal of maximizing his time and energy.

To wit, Dyrdek organizes his calendar by categories and subcategories, like time with his wife or kids, hitting the gym, brain training, and work. He also wakes up every day and rates from 0 to 10 how he slept, how motivated he feels, and how he felt about various aspects of the previous day, like his life, work, and health. All of this data gets scraped together and aggregated into dashboards, using a program that he paid someone to build.

With that insight, he says, you can move things out of your life you don’t like doing and focus on what makes you happy. “It’s all about how much can you automate and systematize in your existence in order to really live as light as possible,” he says.

What else helps? A little dome time. At 6:30 a.m. almost every day Dyrdek says he spends about 20 minutes time in a Somadome, a large meditation pod that uses colors and binaural beats that play through a headphone (essentially sound therapy) set to help you relax. You climb in, pull down the door, and then choose ambient noise or a specific meditation session like “love” or “heal.”

Dyrdek discovered the pod in January 2018, when a friend told him about it, and his children’s health specialist offered to connect him with the company’s CEO, Sarah Attia. At that time, Dyrdek was unsure of how to tackle a meditation practice, despite the long list of potential benefits. “It just was so ominous a mountain that I wasn’t ready to climb,” he says. “As soon as I wake up, I go. So it’s hard for me to even think, how am I ever going to get myself into a meditative state.”

The Somadome, along with Dyrdek’s other life optimization techniques, he says, makes it easier–especially when meditation has become so useful for helping him reach his goals. In 2018, Dyrdek was negotiating a TV deal for Ridiculousness and was hoping to bolster an eventual sale of his production company, Superjacket Productions, by maximizing the number of episodes slated for the show. During the negotiations, he would sit in his Somadome and visualize how it would feel to stand on stage and say, “Welcome to Season 30.”

He landed on a deal with an “unprecedented” 500-episode order that would mean he’d finish the show in season 30. “So I can’t tell you that the dome did it, but I had clarity,” he says, adding that entrepreneurs often underestimate the extent to which mental precision can help them both design their lives and evolve their businesses. In late 2019, Thrill One Sports & Entertainment acquired Dyrdek’s portfolio companies Superjacket Productions and Street League Skateboarding.

For Dyrdek, the best part about the Somadome is the various features that make difficult things, like remaining calm and clear about what you want out of life and meditating consistently, easy. He paid $25,000 for the device when he bought it and says he’s used it almost daily since. “It’s paid for itself a thousand fold,” he says. A smaller and less expensive version–about $4,000–will soon become available to consumers, according to the company.

By Gabrielle Bienasz

Source: The Wacky Meditation Tool That Serial Entrepreneur Rob Dyrdek Swears By | Inc.com

.

PRODUCT NEWS

Zenoti partners with Sutherland Global to provide 24/7 support to over 12,000 beauty and wellness businesses

HydraFacial expands pop-up store concept with new Dubai and London locations

Himalayan salt stone massages – the sustainable stone massage

Cypriot spa set to debut world-exclusive Augustinus Bader spa treatments

Iyashi Dôme sets industry standard for touchless infrared sauna technology

Aromatherapy Associates unveils wellbeing home collection including new portable diffuser

Puraclenz launches air purification systems to help spas and gyms instil confidence in returning guests

Phytomer enhances Cyfolia range and launches exclusive organic facial to pamper face and eye-contour

Tur’s Celloxy oxygen device is ideal for medi-wellness, says Maria Papadopoulou

Tata Harper launches new sensitive skincare collection and gentle facial treatment

 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
SPA BUSINESS
SPA OPPORTUNITIES
SPA BUSINES HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
07 Jun 2021 Spa Business Handbook
  Powered by Translate
 
HOMEVIEW DIGITAL EDITIONCONTENTSPROFILESBUY HANDBOOKJOBSNEWSPRODUCTSADVERTISECONTACT US
Sign up for FREE ezineHandbook contents 5. Editor’s letter: Time to shine 12. Spa Foresight 26. Development Pipeline 68. Industry insights: Industry Predictions 102. Industry insights: The Future of Spa Design 126. Industry insights: Future-Proofing Wellness Design 130. Industry insights: Best of Both Worlds 136. Industry insights: The Colour of Spa 138. Industry insights: Nature & Well-Being 142. Industry insights: Adapting to a post-COVID world 144. Industry insights: Well Rated 148. Industry insights: Future Shock 150. Industry insights: Eating Well 154. US Research: Manner of Speaking 158. UK Research: New Perspectives 162. Global Research: Rest & Relaxation 166. Global Research: The Wellness Effect on Real Estate 170. Global Research: Matter of Minds 174. Global Research: All Booked Up 178. Asia Research: Luxury Travel in the Post COVID-19 World 182. Consultant profile: bbspa_Group 184. Consultant profile: Blu Spas, Inc. 186. Consultant profile: Devin Consulting 188. Consultant profile: Global Project & Spa Advisory 190. Consultant profile: Impact Business Health & Wellbeing 192. Consultant profile: ISM SPA 194. Consultant profile: Robert D Henry Architects 196. Consultant profile: Spa Bureau 198. Consultant profile: The Wellness 200. Spa consultancies & franchises: Contract Management 202. Spa consultancies & franchises: Spa Consultants 211. Spa consultancies & franchises: Spa Franchises 214. Products & services: Company Profiles 304. Products & services: Spa-Kit 312. Products & services: Contact Book 384. Listings: Spa Training Directory 396. Listings: Spa Course Selector 407. Listings: Trade Associations 410. Listings: Events CalendarCompany/Consultancy profiles Aquaform Art of Cryo Barr + Wray Ltd bbspa_Group BC SoftWear Ltd Beltrami Linen S.r.l. Bioline Jatò Blu Spas, Inc. Booker by Mindbody Circadia Comfort Zone Concept Spa & Golf Crown Sports Lockers (UK) Ltd Devin Consulting Dröm UK Ltd Gharieni Group Global Project & Spa Advisory Impact Business Health & Wellbeing IONTO Health & Beauty GmbH ISM SPA Iyashi Dome J Grabner GmbH Kemitron GmbH KLAFS GmbH & Co KG Lemi Group Living Earth Crafts Matrix MCCM Medical Spa Oakworks Inc Phytomer Red Light Rising Ltd ResortSuite RKF Luxury Linen Robert D Henry Architects Soleum Sothys Paris Spa Bureau Spa Vision Starpool TAC | The Assistant Company TechnoAlpin Thalion Laboratories The Wellness TylöHelo Unbescheiden GmbH Universal Companies Vinésime VOYA WDT Werner Dosiertechnik GmbH & Co. KG Wellness Solutions Yon-Ka Zenoti Zimmer MedizinSysteme GmbH
Current issue Spa Business Handbook
Current issue

View this issue online

Buy print edition

Download PDF
Previous issues Spa Business Handbook
2019-2020 issue

View issue contents
View this issue online
Download PDF Spa Business Handbook
2018 issue

View issue contents
View this issue online
Download PDF Spa Business Handbook
2017 issue

View issue contents
View this issue online
Download PDF Spa Business Handbook
2016 issue

View issue contents
View this issue online
Download PDF Spa Business Handbook
2015 issue

View issue contents
View this issue online
Download PDF Spa Business Handbook
2014 issue

View issue contents
View this issue online
Download PDF Spa Business Handbook
2013 issue

View issue contents
View this issue online
Download PDF Spa Business Handbook
2012 issue

View issue contents
View this issue online
Download PDF Spa Business Handbook
2011 issue

View issue contents
View this issue online Spa Business Handbook
2010 issue

View issue contents
View this issue online Spa Business Handbook
2009 issue

View issue contents
View this issue online View Handbook archive>> Latest jobs Powered by
Spa Manager
Salary: Highly competitive
Location: Norwich, UK
Company: Barnham Broom Hotel
More>> Spa Manager
Salary: Excellent Package + bonus scheme
Location: Alton, UK
Company: Everyone Active
More>> More jobs>> Diary dates Latest diary dates powered by 26-29 Oct 2019
Aquanale
Koelnmesse, Cologne, Germany
More>> 06-08 Jun 2021
SPATEC North America
Ritz-Carlton, Miami, United States
More>> More dates>> 2021 features
Spa consultancies & franchises
Spa Franchises
International spa franchises

View on turning pages   US Research
Manner of Speaking
ISPA’s latest consumer study

View on turning pages

View online   UK Research
New Perspectives
Consumer insight from the UK

View on turning pages

View online Industry insights
Well Rated
Ann Marie Aguilar outlines details of a new health & safety rating

View on turning pages

View online   Listings
Events Calendar
The biggest conferences, exhibitions and networking events for the spa industry over the coming year

View on turning pages   Asia Research
Luxury Travel in the Post COVID-19 World
Agility Research finds reason for optimism

View on turning pages

View online

Products & services
Contact Book
A listing of details of spa suppliers

View on turning pages   Global Research
Matter of Minds
A study on the mental wellness industry

View on turning pages

View online   Products & services
Company Profiles
Suppliers for the spa industry, complete with contact details

View on turning pages Spa Business headlines 04 Jun 2021

Rosewood planning fourth Asaya wellness destination in Mexico City for 2024

Expanding its strong footprint in Mexico, Rosewood Hotels & Resorts has been appointed by real estate development firm Grupo Sordo Madaleno to operate Rosewood Mexico City, a new hotel expected to open in 2024 in the Polanco district. More>>   03 Jun 2021

Jumeirah spends £100m revamping The Carlton Tower hotel with three-storey spa and health club

Global hospitality group the Jumeirah Group has reopened the 186-room The Carlton Tower Jumeirah, in the heart of London’s fashionable Knightsbridge area following an 18-month closure for refurbishment. More>>   03 Jun 2021

Ritz-Carlton Maldives opens with luxury overwater spa sanctuary designed by Kerry Hill Architects

The Ritz-Carlton Hotel Company has opened its first Maldives resort with a tranquil overwater spa inspired by its natural surroundings, including the elements of swirling water and ocean breezes. More>>

02 Jun 2021

Patrick Huey and Lynne McNees share top highlights from ISPA summit

Throughout the pandemic, the International Spa Association (ISPA) has championed the strength of the spa community and strived to support, inform and inspire the industry as it grapples with the new challenges of operating in a COVID-19 landscape. More>> 02 Jun 2021

Major international business leaders spearhead initiative striving for better workplace mental health

A coalition of global organisations and business leaders from BP, BHP, Clifford Chance, Deloitte, HSBC, Salesforce, Unilever and WPP have launched an international initiative to advocate for and accelerate positive global change for mental health in the workplace. More>>   01 Jun 2021

Davines enters new era following leadership reshuffle and reports stable 2020 results

Arnaud Goullin will join hair and skincare brand Davines Group in the role of global skincare division general manager, effective immediately. More>> 01 Jun 2021

Tibetan medicine specialist joins Velaa Private Island’s visiting practitioner series

Luxury resort and spa Velaa Private Island in the Maldives is welcoming back guests with a programme of visiting wellness practitioners to guide them on journeys of personal discovery. More>>   28 May 2021

Lake Garda’s newest spa draws inspiration from nature, Celtic mythology and minimalism

A new five-star hotel and spa named Eala has opened in the Italian town of Limone sul Garda. Set back into a cliff face, the new destination gazes out across the iconic Lake Garda. More>> 27 May 2021

Amazon’s flagship hair salon arrives in London complete with augmented reality technology

Tech giant Amazon has expanded its presence in the world of beauty and opened its first bricks and mortar hairdressers – named Amazon Salon – in London’s lively Spitalfields Market. More>> More news>> Product news Powered by spa-kit.net HydraFacial expands pop-up store concept with new Dubai and London locations

from spa-kit.net

Advanced aesthetic technology company HydraFacial has opened two pop-up locations in Dubai and London following a new initiative spearheaded by Lauren Clarke from the HydraFacial EMEA marketing team.
More>>   Cypriot spa set to debut world-exclusive Augustinus Bader spa treatments

from spa-kit.net

Part of the Cypriot family-owned hotel group Thanos Hotels & Resorts, Anassa resort will be the first hotel in the world to welcome Augustinus Bader at its Thalassa Spa.
More>>   Lemi introduces Bellaria – a new treatment table designed for outdoor use

Future Careers Get A Much-Needed Shot In The Arm

Cognizant’s “Jobs of the Future Index” posts a 29% increase as tech-oriented job markets begin to return to normal, notes Robert Brown, a futurist within the company’s Center for the Future of Work. The US labor market is recovering faster than expected, as successful vaccination programs and stimulus dollars generate sweeping impacts throughout the nation.

The $1.9 trillion American Rescue Plan Act of 2021, together with the full inoculation of 51 million Americans by the close of the first quarter (and at least partial inoculation of more than 50% of the adult population by April’s end), are instilling confidence in both consumers and businesses. The accelerated use of and reliance on digital technology during the pandemic are now being accompanied by long-term investment in a digitally enabled workforce to meet the needs of tomorrow.

Cognizant’s “Jobs of the Future Index (CJoF Index)” tracks demand for 50 digitally enabled jobs of the future identified by Cognizant’s Center for the Future of Work, capturing the quarterly fluctuations in postings for these jobs. In the first quarter of 2021, the growth of the CJoF Index outpaced that of the Burning Glass jobs index by nearly 10%.

The CJoF increased 28.8% from the previous quarter (from an index figure of 1.22 to 1.57). The Burning Glass index posted a quarter-on-quarter increase of 18.9%, rising from 1.45 to 1.72. These are the greatest gains for either index in the past two years, signaling not only a strengthening labor market but also a larger shift from business survival to digital growth and expansion.

Note, however, that growth notwithstanding, digitally enabled job postings remain far below pre-pandemic levels. The CJoF Index posted a severe year-on-year decline of 22.2%, dropping from 2.02 in Q1 2020 (its highest value ever) to 1.57 in Q1 2021. Growth in digitally enabled positions, which broadly represent higher-wage earners and larger investments for employers, signals longer-term economic confidence — which has yet to be fully achieved.

In contrast, the demand for all jobs is on the verge of bouncing back; the Burning Glass index posted a negligible year-on-year decline of 2.8%. That’s because brick-and-mortar jobs have been more susceptible to business restrictions and lockdowns; they’re now seeing a rush of activity as the economy reopens.

A rising tide: Quarterly growth for all CJoF job families

In addition to total job openings, the CJoF Index monitors trends in eight job families: Algorithms, Automation and AI; Customer Experience; Environment; Fitness and Wellness; Healthcare; Legal and Financial Services; Transport; and Work Culture.

In the first quarter, all eight families registered quarter-on-quarter increases, with the most modest growth in Work Culture (14.5%) and Healthcare (18.5%). Over the quarter, Fitness and Wellness (137.8%) and Transport (38.0%) emerged as top-performing jobs families after experiencing the largest declines in Q4 2020.

Measured over the year, seven of eight families posted declines: Work Culture (-27.8%), Algorithms, Automation and AI (-24.3%), Transport (-16.9%), Customer Experience (-15.7%), Legal and Financial Services (-13.1%), Environmental (-2.8%), and Fitness and Wellness (-2.3%) all dropped. Healthcare (12.4%) was the only family in the CJoF Index to register year-on-year growth.

The Fitness and Wellness family posted the sharpest quarterly increase in job postings (+137.8%) thanks to especially strong growth in digitally enabled Caregiver/Personal Care Aide (249.5%) and Home Health Aide (156.5%) postings. These two job categories have experienced much volatility during the pandemic, running countercyclical with expectations for the progression of the virus.

During declines in the number of new COVID-19 cases in Q1 2021, patients underwent long-postponed elective and routine medical procedures, thereby increasing the demand for in-home care.

Also noteworthy was the Transport family, which realized the second-largest increase (38.0%), led by gains in job postings for Aerospace Engineer (47.6%) and Urban/Transportation Planner (42.1%). The most recent federal stimulus package provided a much-needed lifeline to the travel industry, which was hit hard by the pandemic.

Algorithms, Automation and AI, the largest family in the CJoF Index, realized a 28.3% gain over the quarter. Within this family, 15 of the 16 individual job indexes registered quarter-on-quarter growth. However, only five categories showed year-over-year expansion. Unsurprisingly, each of these also saw growth for the quarter in Q1 2021: Robotics Engineer (73.0%), Robotics Technician (50.2%), Chief Information Officer/Director of Information Technology (47.1%), Mechatronics Engineer (45.7%), and Data Scientist (+42.2%).

The pandemic dampened tech hiring despite the increased reliance on digital technologies to facilitate collaboration and interaction among remote workers. But experts predict that tech occupations will recover to their pre-pandemic strength in 2021 as organizations accelerate their adoption of cloud strategies and artificial intelligence (AI) solutions.

Quarterly ups and downs

In Q4 2020, the fastest-growing jobs in the CJoF Index were:

  • Caregiver/Personal Care Aide (+249.5%)
  • Home Health Aide (+156.5%)
  • Solar Engineer (+131.9%)
  • Sustainability Specialist (+126.1%)
  • Genetic Counselor (+123.3%)

Jobs that posted the largest declines for the quarter were:

  • Solar Installer (-22.4%)
  • Alternative Energy Manager (-20.8%)
  • Fashion Designer (-10.4%)
  • Surveillance Officer/Investigator (-4.6%)
  • Career Counselor (-2.1%)

Annual ups and downs

The fastest-growing jobs in the CJoF Index for the year ending with Q1 2021 were:

  • Solar Engineer (+263.3%)
  • Genetic Counselor (+123.3%)
  • Registered Nurse (+81.0%)
  • Solar Installer (+49.1%)
  • Sustainability Specialist (+39.0%)

Jobs that posted the largest declines during this period were:

  • Physician (-60.9%)
  • Career Counselor (-57.2%)
  • Fashion Designer (-42.3%)
  • Health Information Manager/Director (-35.4%)
  • Alternative Energy Manager (-34.5%)

We encourage you to review our overall index on a regular basis, as these COVID-19-driven shocks continue to alter the landscape of jobs of the future — and jobs of the now. Visit our Cognizant Jobs of the Future Index page to see the most up-to-date data and analysis.

Robert Hoyle Brown is a Vice President in Cognizant’s Center for the Future of Work and drives strategy and market outreach for Cognizant’s Business Process Services business unit. He is also a regular contributor to the CFoW blog. Prior to joining Cognizant, he was Managing Vice President of the Business and Applications Services team at Gartner, and as a research analyst, he was a recognized subject matter expert in BPO, cloud services/BPaaS and HR services. Robert also held roles at Hewlett-Packard and G2 Research, a boutique outsourcing research firm in Silicon Valley. He holds a bachelor’s degree from the University of California at Berkeley and, prior to his graduation, attended the London School of Economics as a Hansard Scholar. He can be reached at Robert.H.Brown@cognizant.com

Source: Future Careers Get A Much-Needed Shot In The Arm

.

Career Development Perspectives- Individual versus Organizational Needs

An individual’s personal initiatives that they pursue for their career development are primarily concerned with their personal values, goals, interests, and the path required to fulfill these desires. A degree of control and sense of urgency over a personal career development path can require an individual to pursue additional education or training initiatives to align with their goals.

In relation, John L. Holland’s 6 career anchors categorizes people to be investigative, realistic, artistic, social, enterprising, and conventional, in which the career path will depend on the characteristic that an individual may embody. The more aware an individual is of their personality type, the better alignment of career development and opportunities they may obtain.

The factors that influence an individual to make proper career goal decisions also relies on the environmental factors that are directly affecting them. Decisions are based on varying aspects affecting work-life balance, desires to align career options with their personal values, and the degree of stimulation or growth.

A corporate organization can be sufficient in providing career development opportunities through the Human Resources functions of Training and Development.The primary purpose of Training and Development is to ensure that the strategic planning of the organizational goals will remain adaptable to the demands of a changing environment.

Upon recruiting and hiring employees, an organization’s Human Resource department is responsible for providing clear job descriptions regarding the job tasks at hand required for the role, along with the opportunities of job rotation, transfers, and promotions. Hiring managers are responsible for ensuring that the subordinates are aware of their job tasks, and ensure the flow of communication remains efficient.

In relation, managers are also responsible for nurturing and creating a favorable work environment to work in, to foster the long term learning, development, and talent acquisition of their subordinates. Consequently, the extent to which a manager embraces the delegation of training and developing their employees plays a key factor in the retention and turnover of employees

.

References

  • Driver., and Cooper, Michael J., and Ivan T. (1988). International review of industrial and organizational psychology. Los Angeles, CA: University of South California. pp. 245–277. ISBN 0-471-91844-X.
  • McDonald., and Hite, Kimberly., and Linda (2016). Career development: a human resource development perspective. New York, New York: Oxfordshire, [England]: Routledge. pp. 2-4. ISBN 9781138786127.
  • McDonald., and Hite, Kimberly., and Linda (2016). Career development: a human resource development perspective. New York, New York: Oxfordshire, [England]: Routledge. pp. 16-18. ISBN 9781138786127.
  • McDonald., and Hite, Kimberly., and Linda (2016). Career development: a human resource development perspective. New York, New York: Oxfordshire, [England]: Routledge. pp. 20. ISBN 9781138786127.
  • Driver., and Cooper, Michael J., and Ivan T. (1988). International review of industrial and organizational psychology. Los Angeles, CA: University of South California. pp. 245–277. ISBN 0-471-91844-X.
  • “Task management”, Wikipedia, 2020-10-20, retrieved 2020-11-26
  • Driver., and Cooper, Michael J., and Ivan T. (1988). International review of industrial and organizational psychology. Los Angeles, CA: University of South California. pp. 245–277. ISBN 0-471-91844-X.
  • McDonald., and Hite, Kimberly., and Linda (2016). Career development: a human resource development perspective. New York, New York: Oxfordshire, [England]: Routledge. pp. 16-17. ISBN 9781138786127.
  • “Hollands Occupational Personality Types” (PDF). hopkinsmedicine.org. Retrieved 2020-12-14.
  • McDonald., and Hite, Kimberly., and Linda (2016). Career development: a human resource development perspective. New York, New York: Oxfordshire, [England]: Routledge. pp. 19-20. ISBN 9781138786127.
  • McDonald., and Hite, Kimberly., and Linda (2016). Career development: a human resource development perspective. New York, New York: Oxfordshire, [England]: Routledge. pp. 38-44. ISBN 9781138786127.
  • McDonald., and Hite, Kimberly., and Linda (2016). Career development: a human resource development perspective. New York, New York: Oxfordshire, [England]: Routledge. pp. 38-41. ISBN 9781138786127.
  • McDonald., and Hite, Kimberly., and Linda (2016). Career development: a human resource development perspective. New York, New York: Oxfordshire, [England]: Routledge. pp.46. ISBN 9781138786127.
  • McDonald., and Hite, Kimberly., and Linda (2016). Career development: a human resource development perspective. New York, New York: Oxfordshire, [England]: Routledge. pp. 40-46. ISBN 9781138786127.
  • Barbose de Oliveira, Lucia; Cavazotte, Flavia; Dunzer, Rodrigo Alan (2019). “The interactive effects of organizational and leadership career management support on job satisfaction and turnover intention”. The International Journal of Human Resource Management. 30., no 10 (10): 1583–1603. doi:10.1080/09585192.2017.1298650 – via Routledge, Taylor and Francis Group.
  • McDonald., and Hite, Kimberly., and Linda (2016). Career development: a human resource development perspective. New York, New York: Oxfordshire, [England]: Routledge. pp. 20-21. ISBN 9781138786127.
  • Barnett, R. C. and Hyde, J. S. 2001. “Women, Men, Work, and Family.” American Psychologist 56:781-796.Pope, M. (2009). Jesse Buttrick Davis (1871-1955): Pioneer of vocational guidance in the schools. Career Development Quarterly, 57, 278-288.

 

Millions of Electric Cars are Coming What Happens To All The Dead Batteries

https://i0.wp.com/onlinemarketingscoops.com/wp-content/uploads/2021/05/118173837_gettyimages-1231680055.jpg?resize=924%2C519&ssl=1

The battery pack of a Tesla Model S is a feat of intricate engineering. Thousands of cylindrical cells with components sourced from around the world transform lithium and electrons into enough energy to propel the car hundreds of kilometers, again and again, without tailpipe emissions. But when the battery comes to the end of its life, its green benefits fade.

If it ends up in a landfill, its cells can release problematic toxins, including heavy metals. And recycling the battery can be a hazardous business, warns materials scientist Dana Thompson of the University of Leicester. Cut too deep into a Tesla cell, or in the wrong place, and it can short-circuit, combust, and release toxic fume.

That’s just one of the many problems confronting researchers, including Thompson, who are trying to tackle an emerging problem: how to recycle the millions of electric vehicle (EV) batteries that manufacturers expect to produce over the next few decades. Current EV batteries “are really not designed to be recycled,” says Thompson, a research fellow at the Faraday Institution, a research center focused on battery issues in the United Kingdom.

That wasn’t much of a problem when EVs were rare. But now the technology is taking off. Several carmakers have said they plan to phase out combustion engines within a few decades, and industry analysts predict at least 145 million EVs will be on the road by 2030, up from just 11 million last year. “People are starting to realize this is an issue,” Thompson says.

Governments are inching toward requiring some level of recycling. In 2018, China imposed new rules aimed at promoting the reuse of EV battery components. The European Union is expected to finalize its first requirements this year. In the United States, the federal government has yet to advance recycling mandates, but several states, including California—the nation’s largest car market—are exploring setting their own rules.

Complying won’t be easy. Batteries differ widely in chemistry and construction, which makes it difficult to create efficient recycling systems. And the cells are often held together with tough glues that make them difficult to take apart. That has contributed to an economic obstacle: It’s often cheaper for batterymakers to buy freshly mined metals than to use recycled materials.

Better recycling methods would not only prevent pollution, researchers note, but also help governments boost their economic and national security by increasing supplies of key battery metals that are controlled by one or a few nations. “On the one side, [disposing of EV batteries] is a waste management problem. And on the other side, it’s an opportunity for producing a sustainable secondary stream of critical materials,” says Gavin Harper, a University of Birmingham researcher who studies EV policy issues.

To jump-start recycling, governments and industry are putting money into an array of research initiatives. The U.S. Department of Energy (DOE) has pumped some $15 million into a ReCell Center to coordinate studies by scientists in academia, industry, and at government laboratories. The United Kingdom has backed the ReLiB project, a multi-institution effort. As the EV industry ramps up, the need for progress is becoming urgent, says Linda Gaines, who works on battery recycling at DOE’s Argonne National Laboratory. “The sooner we can get everything moving,” she says, “the better.

Now, recyclers primarily target metals in the cathode, such as cobalt and nickel, that fetch high prices. (Lithium and graphite are too cheap for recycling to be economical.) But because of the small quantities, the metals are like needles in a haystack: hard to find and recover.

To extract those needles, recyclers rely on two techniques, known as pyrometallurgy and hydrometallurgy. The more common is pyrometallurgy, in which recyclers first mechanically shred the cell and then burn it, leaving a charred mass of plastic, metals, and glues. At that point, they can use several methods to extract the metals, including further burning. “Pyromet is essentially treating the battery as if it were an ore” straight from a mine, Gaines says. Hydrometallurgy, in contrast, involves dunking battery materials in pools of acid, producing a metal-laden soup. Sometimes the two methods are combined.

Each has advantages and downsides. Pyrometallurgy, for example, doesn’t require the recycler to know the battery’s design or composition, or even whether it is completely discharged, in order to move ahead safely. But it is energy intensive. Hydrometallurgy can extract materials not easily obtained through burning, but it can involve chemicals that pose health risks.

And recovering the desired elements from the chemical soup can be difficult, although researchers are experimenting with compounds that promise to dissolve certain battery metals but leave others in a solid form, making them easier to recover. For example, Thompson has identified one candidate, a mixture of acids and bases called a deep eutectic solvent, that dissolves everything but nickel.

Both processes produce extensive waste and emit greenhouse gases, studies have found. And the business model can be shaky: Most operations depend on selling recovered cobalt to stay in business, but batterymakers are trying to shift away from that relatively expensive metal. If that happens, recyclers could be left trying to sell piles of “dirt,” says materials scientist Rebecca Ciez of Purdue University.

The ideal is direct recycling, which would keep the cathode mixture intact. That’s attractive to batterymakers because recycled cathodes wouldn’t require heavy processing, Gaines notes (although manufacturers might still have to revitalize cathodes by adding small amounts of lithium). “So if you’re thinking circular economy, [direct recycling] is a smaller circle than pyromet or hydromet.”

In direct recycling, workers would first vacuum away the electrolyte and shred battery cells. Then, they would remove binders with heat or solvents, and use a flotation technique to separate anode and cathode materials. At this point, the cathode material resembles baby powder.

So far, direct recycling experiments have only focused on single cells and yielded just tens of grams of cathode powders. But researchers at the U.S. National Renewable Energy Laboratory have built economic models showing the technique could, if scaled up under the right conditions, be viable in the future.

To realize direct recycling, however, batterymakers, recyclers, and researchers need to sort out a host of issues. One is making sure manufacturers label their batteries, so recyclers know what kind of cell they are dealing with—and whether the cathode metals have any value. Given the rapidly changing battery market, Gaines notes, cathodes manufactured today might not be able to find a future buyer. Recyclers would be “recovering a dinosaur. No one will want the product.”

Another challenge is efficiently cracking open EV batteries. Nissan’s rectangular Leaf battery module can take 2 hours to dismantle. Tesla’s cells are unique not only for their cylindrical shape, but also for the almost indestructible polyurethane cement that holds them together.

Engineers might be able to build robots that could speed battery disassembly, but sticky issues remain even after you get inside the cell, researchers note. That’s because more glues are used to hold the anodes, cathodes, and other components in place. One solvent that recyclers use to dissolve cathode binders is so toxic that the European Union has introduced restrictions on its use, and the U.S. Environmental Protection Agency determined last year that it poses an “unreasonable risk” to workers.“In terms of economics, you’ve got to disassemble … [and] if you want to disassemble, then you’ve got to get rid of glues,” says Andrew Abbott, a chemist at the University of Leicester and Thompson’s adviser.

To ease the process, Thompson and other researchers are urging EV- and batterymakers to start designing their products with recycling in mind. The ideal battery, Abbott says, would be like a Christmas cracker, a U.K. holiday gift that pops open when the recipient pulls at each end, revealing candy or a message. As an example, he points to the Blade Battery, a lithium ferrophosphate battery released last year by BYD, a Chinese EV-maker. Its pack does away with the module component, instead storing flat cells directly inside. The cells can be removed easily by hand, without fighting with wires and glues.

The Blade Battery emerged after China in 2018 began to make EV manufacturers responsible for ensuring batteries are recycled. The country now recycles more lithium-ion batteries than the rest of the world combined, using mostly pyro- and hydrometallurgical methods.

Nations moving to adopt similar policies face some thorny questions. One, Thompson says, is who should bear primary responsibility for making recycling happen. “Is it my responsibility because I bought [an EV] or is it the manufacturer’s responsibility because they made it and they’re selling it?” In the European Union, one answer could come later this year, when officials release the continent’s first rule. And next year a panel of experts created by the state of California is expected to weigh in with recommendations that could have a big influence over any U.S. policy.

Recycling researchers, meanwhile, say effective battery recycling will require more than just technological advances. The high cost of transporting combustible items long distances or across borders can discourage recycling. As a result, placing recycling centers in the right places could have a “massive impact,” Harper says. “But there’s going to be a real challenge in systems integration and bringing all these different bits of research together.”

There’s little time to waste, Abbott says. “What you don’t want is 10 years’ worth of production of a cell that is absolutely impossible to pull apart,” he says. “It’s not happening yet—but people are shouting and worried it will happen.

By Ian Morse

Source: Millions of electric cars are coming. What happens to all the dead batteries? | Science | AAAS

.

References

Best, Paul (19 November 2020). “GM doubles down on commitment to electric vehicles, increases spending to $27B”. FOXBusiness. Retrieved 20 November 2020.

%d bloggers like this: