globalEDGE Blog - By Tag: business-(general)

As the semester winds down, the globalEDGE team is preparing for a well-earned winter break. Your engagement and support motivate us to continue striving for excellence. We encourage you to explore the diverse content available across the globalEDGE website during this time. In the meantime, check out our social media—we recently joined Instagram! Check us out @msuglobaledge.

In recent years, there has been a noticeable rise in the emphasis on Environmental, Social, and Governance (ESG) principles, which are now shaping industries, governments, and education systems worldwide. Business schools are critical in preparing future leaders to address sustainability challenges. However, integrating ESG principles into business education differs significantly between regions, mainly Europe and the United States.

The whisky industry, long dominated by traditional producers in Scotland, Ireland, and the United States, is experiencing a shift in international markets. Recent developments highlight international challenges and opportunities for whisky producers, highlighting the changing dynamics of international trade and shifting consumer tastes.

With the holiday season coming up, shoppers all over the United States are preparing for Thanksgiving weekend. Unlike the general perception of a sizeable majority of the American public, Black Friday and Cyber Monday are nowhere near the biggest shopping events in the world. That title is reserved for Singles’ Day, the biggest shopping festival in China.

New president-elect Donald Trump has proposed several new policies, including one that involves establishing tariffs on countries around the world. However, many economists are worried about the subsequent impact on the United States and the global economy.

The holiday season is approaching, and as more and more customers flock to prepare their online carts, companies are preparing for the returns and exchanges that will follow. Online shopping, originating in 1979, has become the preferred method for many consumers. This method of shopping has a long list of advantages, but there tend to be some frustrations when it comes to returning items.

As birth rates around the world continue to shrink, world governments are spending billions of dollars to combat this. Yet, there has been little progress in slowing down the continued shrinking birthrates through Europe, Asia, and the United States. This has caused worry in governments around the world about the increased burdens on their economies and the lack of workers needed.

Since we last took a glance at cryptocurrency and its impact on the global economy, the digital currency market has undergone some major expansion.

Autonomous or self-driving cars were once an idea in a sci-fi movie. Even if this seems like a farfetched idea, we see autonomous transit starting in more locations worldwide.

As the conflict with Israel expands, many people are worried about the price of oil skyrocketing. However, due to a lack of reliance on Middle East production, increasing global production and decreasing demand for oil should help to keep prices steady.

The latest generation of hires, Generation Z, is currently under scrutiny by employers across various industries. Discussions are occurring regarding Gen Z’s dispositions, communication styles, and overall work experience. But what exactly is Generation Z? Generation Z, often referred to simply as Gen Z, includes individuals born between 1997 and 2012. This generation directly follows Generation X.

While the U.S economy has been strong through 2024 following the pandemic, the European economy has lagged. Germany and the U.K., the two largest European economies, narrowly avoided a recession. This is partly due to lower government spending, resulting in lower consumer and private spending.

Coffee is making headlines for the wrong reasons lately, with prices reaching all-time highs! Climate change, changing farming practices, and limited supplies are shaking up one of the world’s favorite brews. Let’s spill the beans on what’s brewing in the coffee world!

Humans have nurtured and cared for their loyal companions—our pets for millennia. Over time, the bond between people and their animals has deepened, with many now considering pets as integral family members. However, pet ownership also comes with various responsibilities, including proper maintenance and care. As we enter an era marked by rapid advancements in technology and knowledge, the landscape of pet care is poised for transformative change.

So far this year, we have seen market fluctuations and consumers spending less, but Wingstop has emerged as an example of success in the fast-food industry. While major chains like McDonald’s and Starbucks have dealt with declining consumer spending, Wingstop has demonstrated remarkable strength. The success comes from strategic marketing, cautious pricing, and attractive product offerings.

Over the past few months- and August of 2024, in particular- India has seen strikes and protest erupt across the country. These strikes, involving port workers, doctors, and farmers, have had significant adverse impact on both the national and global economies.

The electric vehicle market is headlining global economic change. Trade tensions are on the rise between Western nations and China as the competition heats up. In recent months, Canada, the United States, and the European Union have all announced significant tariffs on Chinese-made EVs, aiming to protect domestic industries from what they deem as unfair competition.

As the school year ends, we bid adieu to another year of student blogs! It has been another great year of writing to our dedicated readers. Our blogs covered everything from “Swiftonomics” to surges in the gaming industry.

The Olympics need no introduction.

With climate change exacerbating inclement weather and environmental norms across the globe, experts predict an increase of as much as 7 degrees Fahrenheit in global temperatures by the end of the century. To help quell the rapidly rising temperatures, initiatives are pouring millions of dollars into new geoengineering projects worldwide.

Boeing is currently facing a plethora of potential business losses, with their CEO Dave Calhoun announcing he will step down at the end of 2024. This is following continued questions and concerns about the manufacturing process after a multitude of malfunctions with Boeing products have occurred in the past couple of months.

While cultural intelligence has been a notable skill in today’s diverse business world, emotional intelligence is a new buzzword, making its mark. Emotional intelligence is about understanding and managing our emotions and those of others. This shift has occurred, as emotional intelligence is more crucial in the business world than ever, especially with the rise of artificial intelligence.

One of the most divisive debates of 2024 is whether or not the United States government should ban TikTok in the United States. The ban offers ByteDance, the creator of the app TikTok, the option of selling to an American company or being removed from US consumption within six months of the ban taking place. On March 13, 2024, the House of Representatives passed the TikTok ban bill. It is set to head to the Senate, where the outcome is unclear. Considering this possibility, let’s look at TikTok’s financial impact in the United States and its correlation to other nations using the social media platform.

The Red Sea Houthi rebel attacks on ships are adding another shock to global trade for consumers and suppliers alike. After pandemic-related supply chain jams, delays were caused by the Russian-Ukraine war. The Houthi rebels in Yemen are attempting to stop Israel’s offensive against Hamas in Gaza, which is now causing more trade delays across the globe. 

Last September, the World Bank announced it would begin implementing new steps to lend an additional 100 billion over the next ten years. This, along with other new initiatives, would allow the World Bank to lend 150 billion more to developing countries.

Australia’s economy is one of the largest in the world, with solid industries in mining, agriculture, and services. Major cities, such as Sydney, Melbourne, Brisbane, Perth, and Adelaide, are centers of commerce, culture, and innovation. The country's relationship with Laos, in particular, has allowed it to flourish across multiple international business sectors.

Over the past few decades, the global cultural landscape has undergone a seismic shift as new trends and entertainment forms emerged. South Korea, in particular, has become a powerhouse of integrating culture into Western media; the remarkable success of K-pop groups, the record-breaking rise of Netlflix’s “Squid Game,” and the widespread embrace of Korean cuisine, for example, reveal the country’s unparalleled impact on international business.

In recent years, Airbnb has emerged as a challenge to traditional hotels. It offers travelers unique and personalized accommodations in homes, apartments, and treehouses. This platform has transformed how people think about lodging. Its innovative business model, impact on pricing, and guest experiences challenge the dominance of hotel chains and ignite the question of the hotel industry's future.

The 21st century has marked a heightened sense of importance on reducing harmful pollutants and toxic gasses into the atmosphere. As a viable alternative, the spotlight has shifted to critical minerals, emerging as crucial resources on a global scale. Minerals like cobalt, copper, lithium, nickel and rare earth metals now play a pivotal role in the manufacturing of clean energy technologies, powering essential products such as wind turbines and electric cars. At the heart of this revolution lies the creation of the lithium-ion battery, a game-changing component driving the transition towards a cleaner, more sustainable energy landscape.

In June 2016, Britain voted to end its 40-year membership in the European Union. On January 31, 2020, the controversial decision to leave the union went into effect. Since that decision, Britain has had conflicting economic results with higher inflation and lower GDP.

The nail polish industry is a fast-growing business driven by fashion. Millennials are propelling nail industry innovation by demanding bright acrylics and ombre accents for everyone, everywhere, and all at once. Influencers such as Kylie Jenner, Hailey Bieber, Nicki Minaj, Billie Eilish, Cardi B, and others have contributed to the popularity explosion of acrylic nails, relying on skilled professionals to cater to their nail needs.

Sports betting is an intriguing field with a long history that has evolved with technical improvements and human history. It has been around for thousands of years, making people more engaged in the events they watch. The appeal of betting on sports has always existed, attracting bettors of all ages who want the thrill of action and the possibility of financial gain.

In the mid-to-late 2010s, a new trend emerged that caught the attention of many in the hospitality space: vacation rental homes becoming popular. The top players in this new market were Airbnb and Vrbo, and together they created a massive network of individual property owners who rented their space to travelers from around the world. Many believed that the world’s largest hotel chains would be forced to either adapt or be left behind by this revolutionary business model. But over 15 years after Airbnb’s founding, hotel chains continue to thrive and make profit in the hospitality market.

The countdown is on for Super Bowl XLVIII, and all eyes are on the Allegiant Stadium in Las Vegas, Nevada, where the San Francisco 49ers are gearing up to take on the defending champs, the Kansas City Chiefs. This 2022 rematch is scheduled for February 11, 2024, and this clash marks the 58th consecutive Super Bowl - a staple event that’s become engraved in American culture. The Super Bowl is not just a clash of titans on the field but a powerhouse of economic activity. With millions of dollars flowing in each year, it transforms the chosen host city into a focal point of notoriety and attention.

Rice, a food staple in many countries, holds cultural and dietary significance in Japan. However, concerns are growing over the future of rice farmers in Japan as the demand for this essential food experiences a decline. The rice industry faces additional challenges with the recent ban on rice exports from India, one of the world’s leading rice exporters. The once-stable and crucial rice sector faces uncertainties threatening its long-standing role in Japanese agriculture and the global economy.

The history of beer goes back thousands of years, making it one of the world’s oldest beverages. In 2023, more than 166 billion liters of beer were drunk across the globe. This figure is expected to increase to 170 billion in 2024, and further increase to 180 billion by 2027. Even as beer consumption is expected to increase, non-alcoholic beer and seltzer options are becoming increasingly popular, especially during the month of January when millions of people across the globe participate in Dry January. 

Sleeping is known to be one of the most essential aspects in our lives; yet, many people overlook it. The Centers for Disease Control and Prevention states that more than one in three adults in the U.S. are sleep-deprived, leading to many concerning factors that can affect individuals' health.

Last week, the U.S. Securities and Exchange Commission, or SEC, authorized a new crypto product that could revolutionize the market. The SEC has approved 11 applications to offer exchange-traded funds, or EFTs, to the market. More than 4 billion dollars worth of ETFs were bought and sold during the first day of trading, showing the potential market in the future.

Over the past few weeks, winter weather has dumped snow and freezing rain across northern and central Europe. As a direct result, uncommon transportation system delays are disrupting supply chains, causing havoc at airports, and stopping road traffic. The recent wave of extreme weather has created many problems that affect businesses and the intricate network of supply chains, going beyond the immediate inconveniences of travel.

As the globalEDGE team returns from our winter break, we would like to direct your attention to our most recently updated website pages.

The Space Race was one of the most defining moments of the 20th century. Over the past few years, countries from all over the world have ramped up their space programs. In August 2023, India became the first nation to land near the Moon’s southern pole. Recently, NASA’s future moon mission has been moved back to 2025, leaving the lead for space exploration open to the many government-funded or private space programs.

Louisiana has stood as a symbol for its rich aquatic life and seafood for four decades, with the Louisiana Crawfish at the forefront. The state maintains its position as the top producer of crawfish nationwide, consistently generating an impressive annual harvest ranging from 100 to 120 million pounds. These harvests contribute over $300 million annually to Louisiana’s economy.

Welcome back, readers! The globalEDGE Blog is back for the Spring 2024 season. Our student authors have returned from winter break loaded up with new ideas. As always, we will post every Monday through Thursday as we explore the international business world.

The audience’s support is a significant driving force that motivates our team to prepare the best and most timely content for the readers. We look forward to reconnecting with our audience and are excited for the 2024 spring semester!

Shenzhen, China, became the first city in the world to adopt electric buses when it fully electrified its public transportation system, setting a pattern for the rest of the globe. With China emerging as the global leader in electric buses and trucks, accounting for over 90% of the total in 2021, this innovative step signaled the start of an electric Revolution.

The tobacco and nicotine industry has significant economic influence, contributing to both global and national economies. This impact spans various business sectors, including agriculture, manufacturing, distribution, and health care. With a massive consumer base, these industries combined generate substantial revenue.

Digital advertising stands as a monumental asset in our journey through the 21st century. Its transformative impact began on October 27, 1994, with the inception of the first online ad. Since then, digital advertising has not only persisted but has also evolved into an indispensable force, shaping how businesses connect with their audiences in the ever-evolving landscape of the digital age.

In an age of rapid consumerism and capitalism, there’s nothing more festive than participating in “Black Friday,” the annual shopping extravaganza of special markdowns and sales. Held November 24, the day after Thanksgiving, this dark weekday originated in the United States in the early 1960s, but has since transcended national borders to become a global phenomenon.

Economic recessions are one of many phenomena difficult to avoid. As unsettling as they are, many countries around the world are currently going through a recession now. Understanding the causes and potential impacts of a downturn and taking proactive steps is essential to navigating our fast-paced global economy.

During the mid-1970s, wide-leg pants gained popularity among both men and women in Europe and North America. 50 years later, they're coming back in style.

For the first time since 2014, a worrisome development has occurred in China. Firms have taken more money out than they have reinvested back into the country. For years both foreign and domestic companies funneled their profits back into China. Now those profits are leaving the country, due to changing interest rates, rising wages and increased risk.

The past couple years have been a whirlwind of growth, losses, unexpected trends and international successes, but some industries have come out further ahead of others. As we approach the end of 2023, here are some of the most profitable global business industries that are expected to continue their expansion.

Europe is one of the most prominent travel destinations in the world, holding 61% of total arrival shares when viewing the Global and Regional tourism results. Their vast history, stunning views and elaborate architecture are some of the reasons Europe’s tourism is so high. However, the future of international travel will change in 2024 as the European Union (EU) requires travelers from the United States and sixty other countries to apply for authorization through the European Travel Information and Authorization System (ETIAS).

As the National Basketball Assocation, or NBA, continues to mark the beginning of its 78th season, it is interesting to consider the places the league is headed in terms of international attention. This NBA season sees a historic high of 125 international players on opening-night rosters, hailing from 40 different countries and regions across six continents. This season, the league expects to reach over 200 different countries and present their games in more than 50 separate languages.

The arrival of smartphones in the early 2000s marked a watershed moment in the world of photography. Film and digital cameras, once the unrivaled champions, suddenly faced formidable competition. In a surprising turn of events, digital cameras are making a stylish comeback, becoming an essential accessory in social media, especially adored by the younger generation for their “it-girl” charm.

The El Nino-La Nina cycle is a naturally occurring phenomena- resulting from interactions between the ocean surface and atmosphere over the tropical Pacific- that been going on for hundreds of years, with episodes happening roughly every 2 to 7 years. The El Nino and La Nina patterns are opposing climate cycles in the Pacific Ocean. However, with rising surface temperatures in the sea, the effects of El Nino are beginning to compound.

Intense labor movements have been making global headlines recently; you might be aware of the strikes in Hollywood and the film industry, but let’s shift gears to the Three Giants and United Auto Workers (UAW). UAW has taken a bold stand against automotive giants - General Motors, Stellantis, and Ford. Select plants of these powerhouse companies are facing targeted strikes, all unfolding after the union’s contracts expired two weeks ago.

Demand for electric cars has steadily risen over the past few decades. Modern-day electric vehicles, or EV, began to truly become popularized in the late 20th century. This surge in interest and production can be attributed to several factors, such as increased environmental concerns, increased cost competitiveness with conventional gas vehicles, and improved vehicle ranges. Electric cars offer a range of benefits in fuel costs, pollution emissions, and less maintenance due to them offering an efficient electric motor.

Two years after the collapse of China’s real-estate bubble, worries that it may collapse again are starting to rise. China’s largest private property developer, Country Garden, is struggling to pay back their enormous loans. Dealing with strict government regulations has made it even more difficult for companies to deal with their growing debt.

The global economy has been significantly impacted by artificial intelligence, and Japan, with its long history of technological innovation, is well-positioned to significantly impact the AI landscape. Japan is building its own AI innovations like ChatGPT that are anticipated to change a range of sectors, from manufacturing to healthcare, significantly influence the country's economic future.

The Korean skincare industry has taken the beauty world by storm recently. As beauty enthusiasts become increasingly drawn to innovative products and multi-step routines, the focus on achieving flawless and radiant skin has made the Korean skincare industry, in particular, a global trendsetter.

On September 12, the North African country of Libya was ravaged by extreme flooding. This disaster was spearheaded by Storm Daniel, one of the latest hurricanes to touch down this year. Two thousand people have died and 10,000 others are still unaccounted for at the hands of the natural disaster. During the storm, two dams in the country’s northeast side burst, sending an exorbitant amount of water to the city. 

As the rate that games are being developed at increases each day, the gaming industry shows no sign of slowing down any time soon. Although the pandemic prevented many gaming companies from developing new products, it helped the industry see a surge in many new gamers entering the market, leading up to present day.

Experts are seeing a rapid increase in the number of people playing games, with a staggering 3.38 billion people worldwide in 2023. As for the global market itself, experts predict $187.7 billion in revenue from the gaming industry this year, according to Newzoo. Large video game companies both abroad and in the United States, such as Activision Blizzard and Riot Games, are experiencing this growth first-hand. 

Some of the most valuable shipping routes in the world are in the South China Sea, which is 1.4 million square miles in size. Developing conflicts in the South China Sea are having a significant impact on small businesses. Their location, industry, and reliance on the geographical region for business all influence how much of an effect they have. Around 80% of global trade is carried by sea, and estimates of the volume carried through the South China Sea range from 20% to 33%.

As the world pivots away from fossil fuels and towards a sustainable future, one intriguing option is geothermal energy. By using fracking techniques developed by the oil and gas companies, companies are able to harvest heat from the Earth to power generators connected to the power grid. Geothermal energy is a nearly unlimited power source; according to scientists at Fervo Energy, there is enough geothermal energy in the United States alone to power the country several times over.

The two leading generals of the third largest country in Africa have clashed over the country’s vast economic and political power. So, what is happening on the global economic stage in the face of this conflict? 

Formula One, also known as F1, is one of the world’s most popular and prestigious motorsport events. The adrenaline-pumping races, cutting-edge technology, and glamorous lifestyle associated with F1 have captivated audiences worldwide for decades. But did you know from the logistics to hosting races to the development of the race cars, Formula 1 is one of the most financially impactful sports.

globalEDGE is excited to announce that the site's Coface Country Risk Assessment has officially been updated. Our Coface system depicts the risk assessment, business climate, population, and GDP per capita for a given country. Additionally, it also features the different strengths, weaknesses, and the entire risk assessment as a whole on a per country basis. This part of the site is normally updated once a year and is an amazing resource to monitor the economic status of any given country. To learn more about our sites Coface Country Risk Assessment, visit this link!

Africa is the second-largest continent in the world by land mass and the second-largest continent based on population. The largest reserves of diamonds, platinum, gold, and many other resources can be found on the continent. Africa also holds 60% of the world’s arable land and a tenth of the earth’s internal renewable fresh water supply. Although carrying an ample supply of resources, land, and population, Africa is one of the poorest countries in the world. Around 460 million Africans live below the extreme poverty line. In May 2019, the African Union signed the AfCFTA (African Continental Free Trade Area) into place, which can be the first massive step toward economic growth.

Since the early 1990s, the global economy has experienced significant growth over the last three decades. After an incredible run, the global economy may be headed for a major deceleration. The World Bank has issued a warning that the global economy’s long-term growth potential may be anemic over the next decade, mostly diminished due to Russia’s conflict with Ukraine, ongoing pandemic restrictions, social unrest, and redistribution of global wealth. This situation could potentially result in a “lost decade,” resembling the stagnant and subdued economic conditions experienced in Japan in the 1990s or Latin America in the 1980s.

In a world where everything is mass-produced and readily available, luxury brands are the gatekeepers of sophistication, the arbiters of style, and the purveyors of impeccable craftsmanship. From watches to handbags, these items with expensive price points and high demand make them difficult products to obtain. These goods are typically reserved for the select few, but the luxury consumer of the new generation, who has come of age in the era of the internet, displays new concerns for the industry.

Oil prices continue to fall, hitting almost 15-month lows. One of the new factors impacting the global price of oil is the current banking turmoil further adding to the confusion of world prices. 

The collapse of the Silicon Valley Bank (SVB) has had a significant impact not only on the United States but on businesses and countries around the world. As one of the largest and most successful banks in the world, SVB has played a vital role in providing financial services to many of the most innovative and high-growth companies in the technology sector.

Animal rights have been a topic of discussion for a substantial amount of time. The debate as to what rights animals truly have has been an essential issue for many animal rights organizations. One notable organization that has been at the forefront of these issues is PETA. Its main goal is to stop animal suffering as a whole.

Climate change, the idea that human behavior has long-term effects on the environment or weather, has become a global concern over the past few decades. Temperatures across the world have steadily increased over the past 100 years.

Crypto gaming distinguishes itself from traditional gaming by providing gamers with a level of transparency that enables them to own the assets they earn and purchase within the crypto gaming world. In comparison, traditional gaming usually does not offer such ownership rights to gamers, and the assets owned by players in traditional games tend to hold little value outside of the game.

The current earthquakes seen in Turkey are a devastating event that will have ramifications in all sectors of life. In this blog we will be discussing the economic impact. The recent 7.8 earthquakes in Turkey will significantly impact the Turkish economy, which will ripple throughout the world economy. Turkey has the 19th largest economy in the world at nearly 1 trillion USD. Economic consequences of this disaster are seeming to be high inflation, a collapsing stock market, and a devastated agricultural sector.

2022 was a year of major milestones and innovations in the cryptocurrency industry, including the meteoric rise of Web3 and the metaverse, the continued development of decentralized finance, and the introduction of non-fungible tokens. The upward trend seemed like it would continue, with the global crypto community aligning to support Ukraine amid its tensions and ultimate conflict with Russia. Thousands of people and leading brands joined hands to donate crypto funds to Ukraine, which will go down in history as one of the most prominent mass-market uses of blockchain technology to date. But this social unity has not helped hide the dramatic downward shift many crypto coins and exchanges are currently taking.

 The world's population continues to grow at an alarming rate, and many countries are facing declining birth rates. This has far-reaching consequences for economies as the aging population shrinks the workforce, leading to a shortage of low-wage labor. Additionally, the demographic pyramid is becoming inverted as the elderly population grows relative to the working-age population, creating sustainability issues for social contracts that rely on the young to support the elderly. These challenges are particularly pronounced in developed countries, while developing countries face the opposite problem of a growing youth population with insufficient job opportunities. With the future of the global population at stake, it's crucial to address these issues and find sustainable solutions that benefit all.

Since being introduced to the public on November 30th of 2022, ChatGPT has taken over the world by storm. It is an AI chatbot designed and created by OpenAI, an AI research and deployment company. ChatGPT is a natural language processing tool driven by AI technology that allows for users to have human-like conversations, conduct research, answer questions, and assist with tasks. But, the question being asked is what are the applications of the newfound AI technology?

With the releases of movies and television shows such as “Return to Seoul,” “RRR,” “All Quiet on the Western Front,” and “Alice in Borderland,” 2022 has been an explosive year for the international film industry. In fact, foreign entertainment content has experienced significant growth as streaming service-giants like Netflix, Disney+, and Amazon Prime continue to expand their audiences and markets.

The global surge for renewable energy is increasing yearly, with record numbers set in 2020 and 2021, with expectations of this trend to continue with 2022 reports. Many countries have been increasing their use of solar, wind, and other energy sources to reduce their carbon footprint and help have energy independence. Some countries have begun to increase their industry and supply of solar panels. At the same time, some expect to increase their use within their borders. Whether in Europe, Asia, or North America, renewable energy will be in high demand in the upcoming years.

With the Russian-Ukrainian war approaching a year, the market for oil and gas has been volatile. And new Western sanctions aimed at curbing Russia's economy are expected to impact prices again.

While coffee is known as one of the world's favorite beverages, many prefer a lower-caffeine option. Matcha, a cousin to green tea, has been storming the world. The rapid growth of the matcha industry is backed by its popularity through social media and immense health benefits.

Global markets around the world are expected to plummet as protests in China continue. The protests are due in part to China’s strict zero-Covid policy and citizens' disapproval of such rules. This has been one of the first major government challenges since the Tiananmen crisis more than 30 years ago. China has seen a high number of positive Covid-19 cases, and on Saturday, the nation saw a new high of 40,000 cases. China is the second leading consumer of oil in the world, yet with the intense Covid-19 restrictions, the country is seeing a dip in the amount of production. The nation’s high-risk districts make up close to 65% of China’s gross national domestic product. The country has seen protests for three days and there is no sign of them slowing down.

After some delay, Russia has decided to extend its grain deal with Ukraine for another 4 months, easing fears that Russia might abandon the deal. This deal will continue allowing Ukraine to ship grain through the Black Sea. Ukraine is already shipping millions of tons of grain through this deal. Ukraine is also a top supplier of wheat, barley, and supplies 46% of the world’s sunflower oil.

2022 has been a difficult year for the technology industry. What was once considered a high-paying, reliable marking is taking a turn for the worse. Tech companies from Amazon to Zillow are laying off employees at an alarming rate. Tech stocks have fallen significantly after a recent series of upsetting earnings reports were released.

Within the past decade, there has been a rapid increase in innovation across the automotive industry. Many of these innovations are encouraging automotive companies to put millions of dollars into research and development of electric vehicle technology, self-driving capabilities, and automotive software improvements. Many automotive giants, such as the big three U.S. manufacturers, Ford, General Motors, and Stellantis, are competing to release the most cutting-edge battery technology.

This year's high inflation rates are going to cause some problems for suppliers and consumers this holiday season. Unlike in past years, suppliers are facing the issue of having too much supply and not enough buyers. Because of the outrageous prices being applied to housing and gas, consumers are being forced to put their money into more essential needs instead of holiday shopping.

Climate change is a subject that few need an introduction to. The world is continuing to see long-term changes in temperature and weather patterns, some of which are being driven by humans. The prevalent use of non-renewable energy has increased this shift in climate, forming new issues in other markets. One industry that is seeing new obstacles due to climate change is the travel industry.

With society on the edge of its seat in anticipation of a continued recession, the U.S. is going against expectations and is appearing to turn around the economy. The U.S. economy grew by 2.6% in the third quarter of this year after declining by 6% in the first quarter and 1.6% in the second quarter, which by definition takes the economy out of a recession. This is introducing reduced fears of a future recession; however, it does not prove that the economy has fully recovered.

The World Cup is making history in 2022! This year marks the first time in the 92-year history of the World Cup that it is hosted by a Middle Eastern nation. Qatar put in its bid in 2009 while competing against Australia, South Korea, Japan, and the U.S. for the chance to host this prestigious event. Hosting sports events as globally recognized as the World Cup ensures economic benefits that will provide the nation with a great opportunity to not only capitalize on profit but also show off its unique culture and traditions throughout the event, resulting in progress for the nation of Qatar.

As the TikTok app gains popularity among multiple age groups across the globe, information is spreading quickly and videos are going viral almost instantaneously. Growing like no other app, TikTok has been the world’s most downloaded app since early 2020, providing another platform for businesses both big and small to influence users. One recent sensation is Shein, a Chinese online retailer focused on clothing, accessories, shoes, bags, and other fashion items for all ages. Shein is known for cheap prices that appeal to the teenage eyes, which tend to be the most active on TikTok.

The Nord Stream pipelines are two large underwater pipelines connecting Russia and Germany. These pipelines were designed to export Russian oil and gas to Germany. The natural gas exported through Nord Stream accounted for 35% of European energy that is supplied by Russia. As tension between Russia and Europe heightened, the amount of natural gas that Russian companies exported declined drastically. By early September, Nord Stream 1 was fully out of operation. The plans for the operation of Nord Stream 2, another pipeline that would export Russian gas, were shut down by the German government earlier this year. The Nord Stream pipelines and the Russian oil they supply are critical to European countries such as Germany, Hungary, Greece, and many more.

Porsche’s recent initial public offering (IPO), valued at around $72 billion, is one of the largest in European history. This IPO raised about $9 billion for Volkswagen which owns Porsche. The company offered 25% of Porsche’s preferred stock to investors, putting up about 12.5% of the entire company. This IPO is happening during a time that is seeing the market for IPOs drying up due to the volatility of the market.

One of the world’s most powerful groups of oil producers is the Organization of the Petroleum Exporting Countries, known as OPEC+. The organization has decided to impose drastic output cutbacks on oil production as a way to boost oil prices, despite pleas from the United States to pump more oil. On Wednesday, OPEC+ made the final decision to cut oil production by 2 million barrels per day starting in November. 

As the world continues to resurrect itself amidst the pandemic, another tragedy has struck. Hurricane Ian, a category four storm, has ravaged the state of Florida more than anyone expected. A few major cities in the area were warned of the destruction that the storm was expected to bring, including Miami, Fort Myers, Tampa, Atlanta, Jacksonville, and many more. Hurricane Ian caused extensive damage and flooding to the housing and infrastructure as it transformed from a tropical storm to a hurricane. On top of this, the entire eastern end of Cuba was hit, causing 1 million people to lose power. With Hurricane Ian leaving its mark up the eastern coast to South Carolina, the wind damage alone is ranking this as the fifth-strongest storm to hit the United States, tied alongside many others. The size and magnitude of the storm were intense compared to past storms, leaving Florida and bordering states expecting major effects on supply chain functions along the coast.

Inflation indicates how the costs of a particular set of goods or services have increased over time, most frequently in terms of a year regardless of the environment. The United States is very familiar with the concept of inflation, as seen by the Federal Reserve addressing what is known to be "the sharpest price surge in 40 years." This inflation is broad with no single condition to blame, as the global recession is forcing higher rates and an increasing debt market. 

An energy crisis brewing in Europe could end many businesses and lead to a global supply chain disaster for an already struggling system. Two large industries affected by this will be the metals sector and the agricultural sector. With these significant sectors at risk, European governments are attempting to face this problem every day to see how they may be able to stop this issue as fast as possible.

The Clarion-Clipperton Zone (CCZ) is the most captivating place on earth for deep-sea mining contractors and the electric automotive industry alike. The CCZ is a giant international seabed stretching over 4.5 million kilometers from Hawaii to Mexico. The reason that the CCZ is seen in such high regard is that it is packed with tons of precious metals needed in the battery and electric production field. The only other option to get these resources is through terrestrial mining which is both labor and environmentally inefficient. Many companies are noticing how fruitful this venture is and are investing in it before extraction has been approved by international authorities.

The European Union has recently decided to expand its regulation into U.S. companies that interact with European countries. The most recent example is the blockage of the merging between American company Illumina Inc. and European company Grail Inc. Grail’s technology aims to help detect cancer early through blood testing, which Illumina was looking to accelerate as a leading competitor in genetic variation and function technologies. The blocking of this $7.1 billion acquisition demonstrates the emphasis the EU is putting on extending its power.

India is facing a major economic boom that few are talking about. Over the globe, there has been a decrease in total economic growth. The U.S., China, and Russia are getting the majority of the attention right now, yet while the rest of the world is declining, India is projected to grow more than double the projections for total global growth with a yield of  7%+ overall growth. There are many reasons why the global economy is down right now, including the outbreak of COVID-19, Russia’s invasion of Ukraine, and overall rising energy prices.

The United States housing market has been on a steady increase over the past few years. There has been a major increase in the number of new homes being bought and sold across the nation. During the start of the pandemic, the interest rates on houses were lowered to help revive the economy and keep it afloat during hard times. This year, there is a steady rise in mortgage rates outside of slight dips here and there. This rise in mortgage rates combined with an already high-priced housing market is making the market even less affordable. However, there recently has been a change in the amount of time houses have been sitting on the market. For the first time in almost two years, the first annual increase in the amount of time a house spends on the market is being noticed. This extra time on the market is also reflecting the steady drop in the asking prices of houses seen by many owners.

As we reflect on the pandemic, conflict between Russia and Ukraine, and fluctuating economic conditions that all continue to impact communities across the globe, countries are seeing the long-lasting effects of these situations as inflation rates hit record highs. The United States, Spain, and France are only a few fighting inflation rates as the cost of living burdens citizens never like before.

Over the last few decades, inflation has been steady and rampant incline. Inflation is the rate of increase in prices over a given period. The current cost of living for a single person in the United States is $38,266 per year. Yet, in 2002, the cost of living was around $27,924 per year. This is a notable jump over the last 20 years. To add to this, the cost to attend college has increased by 169% spanning from 1980 to 2019. One of the steady indicators of economic conditions has been the automotive industry. Specifically, in the piece, the status of the used car industry will be highlighted.

Facial recognition is becoming more and more common throughout several different industries. Whether it is companies using it for marketing, law enforcement using it to identify suspects, or tech companies to unlock devices easily, facial recognition is seen almost everywhere in our lives. Companies like Apple, Lowe’s, Albertsons, Macy’s, and Ace Hardware already use the technology, while places like Walgreens, McDonald’s, 7-Eleven, Best Buy, Kohl’s, Starbucks, and Ross are just a few among the ones that might use it in the future. It is not only seen in a variety of companies, but The Interpol Face Recognition System (IFRS) also has a database that spans more than 179 countries. The big question remains: should facial recognition be implemented in a war zone?

Need a ride? The competition between ridesharing and city taxis may soon be a thing of the past, as Uber is revamping the riding experience with more options right on your phone.

The workers’ world has changed over the last year. From a transition to either remote work throughout the COVID-19 pandemic, they have to go into your essential work to keep the world running during it or find a new place within the world of businesses. No matter what, the world has shifted just a bit - and these workers have noticed.

With many of the day-to-day costs worldwide continuing to surge, new measures are being taken to help lessen the amount of money spent by the average citizen. On Wednesday, March 30th, President Biden of the United States announced his pending plan to spend $3.16 billion on adding new components to hundreds of thousands of homes in low-income areas to make them more energy-efficient. This new plan was possible because of Biden’s $1.2 trillion bipartisan infrastructure bill signed into law in 2021. Around 450,000 new homes will be retrofitted because of the newly acquired budget. This amount of homes is a major increase over the previous amount, around 38,000. The new additions and renovations will involve electrification, heat pumps, LED lighting, insulation, and sealing up leaks. These upgrades will help make homes more energy-efficient and help cut down on monthly energy bills and gas emissions.

“Breaking up” is the latest trend for large corporations. This trend is not isolated in one single industry; companies such as Johnson & Johnson, GE, Toshiba, and many others have all decided to split up into two smaller companies. This trend began in 2021, has continued through 2022, and is likely to continue to expand for some time to come.

 Since Thursday, February 24th, when Russia invaded Ukraine, tons of companies, from clothing companies such as Nike to media services such as Netflix, have decided to cut ties with Russia and suspend their services. The reason behind the decision to close their stores in Russia is to express their disapproval of Russia invading Ukraine. Apple, who just expanded into Russia with a brand-new office building in Moscow, Russia, was hiring people to work in the building right before the invasion, so they didn’t just cut off their products in the country, but also the use of the brand new building.

The Super Bowl has been one of the most lucrative earning events each year making this year's game no different. For years it has brought in major profits through media coverage, ad revenue, and ticket sales. The extravagant Super Bowl LVI featured the Los Angeles Rams battling with the Cincinnati Bengals leading to a 23-20 victory in favor of the Rams. On top of the nail-biting game, was the all-time great halftime performance by artists Kendrick Lamar, Mary J. Blige, Snoop Dogg, Dr. Dre, Eminem, and 50 Cent.

With inflation among the highest in the world, Turkey is on the brink of an economic crisis concerning the dispute between Russia and Ukraine. Key economic contributors such as natural gas, oil, and tourists from Russia and Ukraine are relied upon by Turkey. The possible Russian invasion of Ukraine poses a major threat to Turkey’s already fragile economy.

We all learned about the industrial revolutions in our world history class - due to the increase in wealth from violent colonialism, Europe invested in technology and created the cotton mill and steam power in the late 1700s to early 1800s. And now, more and more technological revolutions have led us to this new, debated Fourth Industrial Revolution, a revolution that is radically changing every business sector.

The Olympics we watch today are vastly different than the first Olympics in Olympia, Greece. The Olympics adapted to changes in the world to transform into the modern games we watch today. Each change was made meaningfully and with the goal of making the games more representative of the society we live in. The International Olympic Committee meets to make changes to the games, whether that be adding or taking away sports or creating new standards for sustainability and gender equality so that the Olympics continue to adapt to new ideas and generations. 

Every four years, fans are on the edge of their seats for nearly three weeks of the Winter Olympic Games. Some countries are known for their reputation of being on the podium, but how might this change with each competition? As we await the final results of the 2022 Winter Olympics, we look at: the hosts of the games, what it means to bring home the gold, and how the global reach of this athletic tradition supports businesses and athletes alike.

Finder's keeper's loser weepers. When a person finds something and keeps it, the loser has no right. Many societies had followed this saying throughout history when it came to looting ancient artifacts, and now it's affecting our global economy and society.

Travel has been a delicacy over the past few years. Due to the ongoing pandemic, many previous flyers have been less frequent with their travel. With the recent merger of two major airlines, the world of traveling is in for a major change. The Spirit Airlines franchise and Frontier Airline franchise completed their merger over the weekend. The two franchises have been hit hard by the pandemic, and the merger can help with their recovery. These airlines have been major players in the low-cost flight industry in the United States and Latin America, including Puerto Rico, Mexico, Jamaica, and El Salvador. This move will help them grow and move past the pandemic. The union between Spirit and Frontier is expected to create enhanced values for shareholders of both airline industries and allow the companies to better compete with rival airlines.

Sports play an important role in the lives of millions of people worldwide; they bring people together, they provide entertainment and exercise, and, often overlooked, they’re an engine for an extremely high-grossing industry. Globally, the sports industry has been estimated to be worth over $620 billion. Over the last 20 years, major sports leagues in the U.S. and Europe saw their respective clubs/teams grow their annualized revenue by about 7 percent, a performance matched only by the healthcare and education service sectors. One such league with a pronounced affinity for high-grossing activity is the NBA. The NBA has seen more profitability than any other league in the past few years, mainly due to its effective globalization to regions like China and Africa.

Luxury brands have always been a huge player in the economy. According to a market report, the luxury fashion market is estimated to be around $110.64 billion in 2020 with continued growth. However, since the arrival of Coronavirus in 2019, the world has been changing in unimaginable ways. It has affected all aspects of our lives from lifestyles to buying patterns. The luxury fashion market was also a victim, contracting for the first time since 2009. In addition to its market size and revenue, this industry is going through some other changes.

On January 15th, 2022, the country of Tonga was shaken up by the Hunga Tonga, an underwater volcano erupted and disrupted the entire country. A volcano, with a force equal to 500 Hiroshima nuclear bombs, has filled the sky with a sulfuric cloud compromising the natural resources in Tonga. With a population of 100,000 citizens, a small oceanic country is facing the dreadful repercussion of this natural disaster.

The recent years have been anything but predictable. As we move further into 2022, the ongoing pandemic and added political risks will change the trajectory of the global economy. There are several trends for businesspeople to be aware of as the rest of the year unfolds.

With several years invested in mining, South Africa is bringing this industry into the new year with conflict and concerning statistics. Many eyes are on this region as a leading supplier of gold, platinum, coal, and other prominent resources; however, companies relying on these mines are starting to turn to other regions as South Africa appears to be gradually forfeiting its spot at the top of the industry.

As every country rides out the spiking of the Omicron variant, hopeful to see some type of stabilization from it, many have chosen to close their borders to people and businesses for a few weeks to avoid overwhelming hospitals. We’re seeing tighter restrictions and harder borders than we’re used to outside of the COVID-19 Pandemic world. As more variants continue to rise, it would be a good idea to look into how border closings affect businesses, customers, and how you may prepare your business for another possible closure.

If you have ever eaten at a Shake Shack before, you know all about their quality burgers, french fries, and shakes, along with their modern restaurants. If you never have, you may recognize their simple green burger logo. Shake Shack began in Madison Square Park, New York City, in 2001 as a hot dog cart and in 2004 opened a permanent burger stand. Since 2004, their menu has barely changed, but their global footprint has skyrocketed. Today they have 384 locations, with 103 of those being international locations. You can find Shake Shacks in Kuwait, China, United Arab Emirates, Mexico, Turkey, and more. Even more surprising than where you can find a Shake Shack is what you can order because, besides a few unique items, the core menu is the same everywhere.

Space has become a more useful commodity than ever throughout the past few years. The pandemic forced many to seek out space and shelter as we were forced into isolation. In the UK, the true effects of the pandemic were unleashed amongst the country's housing market. Buyers pursued new houses during the lockdown and made the most of their free time. The demand for houses began to surmount the amount that we're able to be built and supplied. Due to this, the United Kingdom’s house prices rose an astonishing 9.8% last year leaving customers satisfied with places to live.

The consumption of plant-based meat as simply a novelty is a thing of the past. As new health and sustainability-conscious generation of people grow older and play a bigger role in the global economy, the demand for plant-based meat is quickly increasing. Concerns about the substantial greenhouse gas emissions produced by the meat industry, recognition of animal cruelty, and knowledge of the long-term health risks of traditional meat consumption are all contributing factors. In 2020, as more people embraced flexitarian, vegetarian, and vegan diets, the market value of plant-based meat worldwide grew to 6.67 billion dollars. This figure is estimated to steadily increase over the next few years and reach 16.7 billion in 2026.

Welcome back to the globalEDGE blog! The globalEDGE team is returning to our regular Monday through Thursday blog schedule.

Over the course of a lifetime, career changes happen. People resigning from or changing careers is normal in moderation. However, employees quitting their jobs in bulk is not a normal occurrence in the workforce. In September, a record high of 4.4 million people, or 3% of workers, quit their jobs and with the holiday season approaching, this causes a major hassle for businesses. Employers are having to take drastic measures to make up for the lost employees. On top of this, roughly 34.4 million workers have quit their jobs this year.

The globalEDGE team has recently updated the United States State Trade Statistics with the latest data. For every state in the "Global Insights" tab, you can click on "Trade Statistics" in the left-hand column. For each trade statistic, you can find a particular state's exporter rank, importer rank, trade balance rank, total numbers and percentages for exports and imports, and the impact of international trade on the countries economy. You will also find an updated list of each state's top 10 exporters and importers and the top 10 types of goods imported and exported, along with the USD$ amount for each exporter, importer, and good. Overall, this is a great tool for understanding the United States market.

Previously known as “Little England”, Barbados has officially severed its ties from Queen Elizabeth II, Queen of the United Kingdom, and became a republic after nearly four centuries of monarchy rule. Sandra Mason was appointed by Queen Elizabeth and was sworn in as their first president, officially declaring a republic. Apart from declaring a republic, they still remain in the Commonwealth. Many aspects of the country's British ties and British culture still remain apparent on the island. For example, their education system, systems of government, architecture, and even a hospital named after Queen Elizabeth proves the presence of the monarchy’s rule in Barbados. After centuries of monarchal presence in Barbados, the question being raised is what the future of Barbados could entail.

All-inclusive resorts are known for including the essential amenities of food, drinks, activities, and entertainment, in the booking price. These all-inclusive resorts range from white sand beaches to mountain top retreats. The all-inclusive resort market has been booming during 2021. Due to the pandemic, travelers are more drawn to vacation options in which they are able to stay in one place. Staying in one place removes the stress of planning do-it-yourself activities.  

The COVID-19 vaccine has been a point of discussion for nearly two years at this point. However, there is a new version that is the current talk-of-the-town: COVID-19 Booster Shots. Today’s blog will discuss what these booster shots are, how they are being implemented, and what it means for some countries to have them when others don’t even have enough doses of the original vaccine.

The COVID-19 pandemic has taken a toll on the amount of available jobs across the nation. Unemployment benefits offered during these hard times have also played a significant role in stealing workers away from their companies. The car service industry is among these careers being negatively impacted. Many people working for Uber or Lyft were forced to retire for the time being due to lack of work. Despite the world beginning to open back up, these former workers have not been returning back to work. On the other hand, with the world opening back up, more and more people have been taking advantage of this and beginning to return back to living a normal life. Companies such as Uber and Lyft expected their workers to return once unemployment benefits halted, however that was not the case. As a result, current drivers are making more money while customers pay higher fare rates.

Food, everyone eats it. It is a nutritious substance that helps maintain life and growth. What started as hunting in gathering turned into strolling through a grocery store, and paying a price for food. This year, world food prices have risen for the third month in a row according to the United Nations Food Agency. The price for food is at an all time high and is continuously rising.

Since the beginning of Bitcoin in 2009, the implementation of the cryptocurrency has been very apparent to the public. The new form of currency has established itself as a popular and viable source of currency across the world because of its autonomy and convenient nature. Different forms of cryptocurrency were invented to serve as an alternative source of currency.

Since the year 2015, the percentage of Americans who watch television via cable or satellite has dropped from 76% to 56%. This recent drop in cable users can be directly related to the rise in popularity of streaming services such as Netflix and Hulu. It is believed that dating back to 2020, about 25 million United States households are expected to cancel their television subscriptions. To add to this, since 2012, 25 million families have already abandoned their television subscriptions. This rapid decline in subscription holders is expected to continue unless a new solution is produced.

Poland and the European Union are on a path for collision as the Polish Constitutional Tribunal ruled that Poland’s constitution takes precedence over some EU laws. Specifically stating that the European Union’s efforts to interfere with matters of the Polish justice system violates the Polish constitution. Many are now speculating about a “Polexit” as tensions rise between Poland and the EU. However, the real question remains: Is Poland going to leave the EU?

On Monday, October 3, 2021, global airlines within the lobby group International Air Transport Association (IATA) announced their plans of reaching net-zero emissions by 2050. “For aviation, net-zero is a bold, audacious commitment,” International Air Transport Association Director General Willie Walsh said, “but it is also necessary.” To many, this plan may seem unattainable due to limited solutions and resources.

When the coronavirus pandemic halted our normal lives in early 2020, the ability to do everything from the safety of home became everyone’s focus. We have seen decreases in travel, increases in shopping online, and even a change in the way we work. Last year, companies quickly developed means for their employees to work from home. Software for video conferences, online chatting, and the ability to access company networks from home rapidly evolved under pressure to resume working back in March of 2020, when everything shut down.

The COVID-19 virus has been ravaging countries as many have recently failed to reach the World Health Organization’s goals for vaccination percentages, whether for lack of access, lack of easy spread of information, or the spread of misinformation surrounding vaccinations. There have been spikes regarding the Delta variant in the United States, Mexico, Russia, Australia, and some parts of Europe and Africa. However, throughout all of this chaos, there is new hope surrounding a new antiviral pill that could be a strong contender for treating COVID-19 without the use of injections.

With the effects of the COVID-19 pandemic still looming, the Tokyo Olympics were forced to make many changes to the formatting of the historic event. These changes in turn affected the revenue. The most controversial change that had to take place was the halt of fan attendance. Since the first Olympic Games which first took place on April 6, 1896, the events have always had fans in attendance. However, to maintain the safety of its attendees Japan had to make the financially critical decision.

Inspiriation4 has officially concluded after a three-day-long trip this past Saturday, September 18, 2021, at 7:06 p.m. (EDT). Inspiration4 was a commercial, tourist space flight enacted by Elon Musk’s SpaceX, a United States-based company. This exploration has caught the eyes of many other countries and companies, as recent spaceflight has become an international news staple in the past few months. We’ll cover the recent space news, how companies are reacting, and what the next big plans are.

Pfizer-BioNTech, the American-German paired company, has been the leading company for providing a COVID-19 vaccine. The FDA (Food and Drug Administration) granted Emergency Use Authorization in early December of 2020. Pfizer-BioNTech was later given emergency validation by the World Health Organization. As of August 23, 2021, Pfizer-BioNTech is the first vaccine to be FDA approved, meaning they have met the rigorous standards of the FDA. This is a significant milestone for Pfizer-BioNTech. While many have already been vaccinated, there is now additional confidence in the vaccine.

The housing market is an unforeseen casualty amidst the COVID-19 pandemic. According to the Bank for International Settlements (BIS), the hot housing markets are a global phenomenon. In the United States, Canada, Europe, New Zealand, and South Korea, the housing markets are seeing a surge in price growth, in some areas reaching price overvaluation of more than 20%. More specifically, global house prices are now 22.4% higher than their level immediately after the financial crisis and up 29.2% in advanced economies. The Bank of Korea even warned that real estate is “significantly overpriced” in June 2021, along with discussing the growing household debt repayment burden. In the rest of this blog, we will go over the reasons for the increased pricing, how countries and global institutions respond to them, and the actions different countries have taken to lower the costs.

This past week, Apple unveiled their new line of products, including new iPads and iMacs. There has already been a lot of controversy in the business world about Apple's new unveilings, including a new product, AirTag, looking incredibly similar to the product Tile, and the new podcasting app on iPhones directly competing with Spotify. However, the latest software update to their products has more profound consequences for other well-known businesses, particularly Facebook.

The usage of ethically made materials has been one of the biggest issues in the fashion industry. In particular, fast fashion brands such as H&M, Zara, Shein, and Romwe have been targets to move towards sustainable fashion and more ethical consumption. The newest issue on this front is dealing with the accusations that recently surfaced regarding the H&M Group profiting off of forced labor of the Uyghur people in the Chinese territory of Xinjiang.

The issue of data collection is once again being posed, however this time it involves a very well-known gambling app company in Britain, Sky Bet. After fighting his gambling addiction, a man in Britain decided to pull a request for the private data that Sky Bet collected about him, revealing multiple personal information files including his banking records, mortgage details, location coordinates, and a full portrait of his different gambling habits. After he quit gambling, Sky Bet used the personal data they had of him to label him as a “win back” customer, creating targeted ads that have led to yet another controversy surrounding data collection and usage.

The issue of data collection, monopolies, and the power that private companies have versus what the government has access to has been a constant power struggle over the past 20 years as technology has become more and more accessible. One company, in particular, has been raising fears throughout many different countries: Google. Google currently has a 90% share of the market, raising concerns about it being a monopoly. In the United States, the Department of Justice and 11 states put forward an antitrust lawsuit against Google on October 20, 2020, claiming that Google is illegally protecting its monopoly. On the other hand, Brazil has been dealing with the ramifications of its antitrust lawsuit with Google since 2018. This is an update to antitrust cases that have been going up against Google throughout these past two years. The lawsuits in Australia and Spain were covered in an earlier blog. 

Notable strikes throughout the world are making significant changes and bringing awareness to market and business faults throughout different countries. This blog discusses the Indian Farmer strikes, the Alabama Amazon strikes, and the South Korea Courier strikes.

As the new year begins, many people’s resolutions may be to either re-evaluate what stock they are investing in or invest for the very first time. Now is the best time to start looking at predictions for how the stock market will look throughout 2021, and some hopeful versus risky stocks to invest in.

The coronavirus pandemic is seeing a large and hopeful light moving forward: the vaccine. Each country is putting together different plans to face the COVID-19 pandemic head on. Canada, the United Kingdom, and the United States are among the first countries to start distributing the vaccines with varying methods. Canada and the UK are both identifying priority groups and using their national healthcare to evenly distribute the vaccine to healthcare workers and to the elderly. The United States has taken a different approach, allowing every state to define its own priority groups and how they will distribute the vaccines. The COVID-19 vaccine has been highly anticipated but has created new, unforeseen problems due to distribution and transportation. A few unexpected companies have risen up to match the challenges of distribution, storage, and space requirements.

As speculated for weeks, Salesforce recently finished the acquisition of the popular messaging app, Slack. The total cost of this purchase is $27.7 billion. This acquisition unites a giant in business software with a newcomer with the mission to replace office emailing. As of Wednesday, November 25, 2020, Slack Technologies had a value of $17 billion and a decreasing stock of -1.81%.

5G is the next generation of wireless networks expected to change our culture fundamentally. Due to its almost zero request time, 5G will be able to download a two-hour movie onto your phone in less than 10 seconds.

As a new generation of women is graduating from colleges, universities, and trade schools around the world, they still face an issue a very present issue that has plagued generations of working women for decades: the gender pay gap. The general consensus is that globally, men tend to earn more than women. This is despite the greater number of women with higher education levels, more women breaking barriers and entering industries that are male-dominated, and a push by all women for higher pay. This blog will dive into why there is a gender pay gap and why it is persistent worldwide.

For years, retailers have been criticized for having their employees work long hours between Thanksgiving and Black Friday. This year, retailers have been forced to reevaluate what their holiday shopping will look like amidst a global pandemic.

Many markets are fluctuating through today’s current wants and needs in the world. One market that has grown is the tea market. But, even through it’s growth, this market is facing many problems.

While the coronavirus pandemic rages on, new battles are rearing their faces. As people search for more and more news about current events, they flock to online media sources. Traditional journalism is not happy. The most recent battleground for these face-offs has been Australia.

The most important thing to do in times of isolation is to still have some kind of connection. People are searching out their friends and family through video chat to check in and push towards having connections. Whether it’s FaceTime, Skype, Zoom, or another one of the hundreds of different video calling platforms, everyone seems to have a personal favorite. Video chatting is now becoming an essential part of society. And because of this, the video conferencing market is seeing an increase in consumption.

As the novel coronavirus and COVID-19 pandemic continues to captivate the world in a time freeze like experience, the changes that workplaces have had to effect have been prominent and extreme.  Because of the quick spread and serious health consequences of this pandemic, many companies have opted to shift all nonessential employees to a work from home mandate.  Through such an action, millions of workers across all industries across the globe now find themselves working from the confines of their respective homes rather than traveling into the office during the week.  Here are two benefits and two drawbacks that are being seen as a result of the new work from home experience:

As reported by the global news, we are being faced with many different challenges. A global pandemic and fear of the unknown is prevalent. To prevent further spread of this disease, many countries have called for total quarantines. More than 25 countries have gone into some kind of quarantine, ranging from full quarantine to simply social distancing. During these stressful and uncertain times, something unexpected happened; shelters are running out of animals as people seek out animals to keep them company in quarantine. Specifically, people are looking into fostering pets for the time of quarantine.

Have you ever thought of ditching the 9 to 5 and taking the risk of starting out on your own? While the United States is an entrepreneurial hub, too often emerging markets, such as South America, are overlooked. Groundbreaking innovations are not a requirement to make lasting change in this continent. Many countries within Latin America are playing catch up with the United States. A savvy entrepreneur could implement already-established innovations into the continent. By employing this strategy, entrepreneurs would avoid competing in a crowded market and increase their likelihood of success by using proven business models. We will be looking at the following areas entrepreneurs could improve upon in Latin America: infrastructure, education, and healthcare.

Among the panic of the COVID-19 a very peculiar phenomenon is happening around the world: Panic Buying. Spain has called for calm, Europe is urging its people to buy rationally, and the United States is working through getting more supplies on its shelves. Panic buying is creating shortages of items around the world and is affecting the supply chains of many different products. But what exactly is panic buying and how is it affecting the markets and companies working within a specific industry?

In the United States, approximately 257.3 million people own and use a cell phone.  Zoom out to the world as a whole and that number increases to 4.57 billion people.  In both cases, the statistics are only expected to show increases as global income rises, interconnectedness becomes normalized across land and sea, and technology continues to advance at a rapid clip.  Recently, the cell phone market in the U.S. made news when T-Mobile’s merger with Sprint was approved by a federal judge on February 11th, uniting the third and fourth largest players in the U.S. industry, respectively.

In the past few years, omnichannel shopping has become the new normal. Omnichannel retail puts the customer in the center of focus, rather than the product. Distinctions between channels disappear, and the boundaries between different sales and marketing channels become a unified whole. A single view of the customer and their needs emerges.

Ships, trains, houses, manufacturing and power plants—each have used, or currently uses, coal as its main fuel source.  Coal has long been one of the world’s top energy sources, acting as the base of nearly 30 percent of the energy created across the globe and almost 40 percent of global electricity production.  However, after Murray Energy Corporation became the eighth coal company on October 29th, 2019 to declare bankruptcy in the past 14 months, there appears to be a significant downturn occurring within the industry.  Murray Energy is the largest privately held coal company in the United States and joined seven other companies within the industry, including Cloud Peak Energy and Westmoreland Mining, in filing for bankruptcy. 

The Wall Street Journal recently released an article stating the number of women in the United States workforce has surpassed the number of men as of December 2019, making women the majority of the workforce.  The article credited much of this shift to the growth of service industries such as healthcare, where females are employed in higher numbers.

There is really no other way to put it—every day, a countless number of people shave hair off of their face and body with razors.  The image of ideal, clean-shaven men and women has become a cultural staple of a large portion of society, marking the sign of adulthood and prestige amongst much of the global population.  However, recent disruptions to the global razor industry—including the trend of facial hair and introduction of subscription blade alternatives—have changed the playing field for the first time in almost a century.

The Toledo-based pizza Titan, Marco’s Pizza, has plans to expand into Costa Rica, Jamaica, Mexico, Puerto Rico, and the Cayman Islands. The company wants to add over 50 franchise into the international arena by 2025. While these plans seem ambitious, Marco’s Pizza is already experiencing massive success in Puerto Rico. The company entered the U.S. territory in 2015 and will have 19 franchises by the end of the year.

The United States and China have been in a trade war since July of 2018 when U.S. President, Donald Trump, imposed large taxes on imported Chinese products. President Trump declared a 15% tax on many American goods, and Beijing has fought back with 5-25% taxes on American goods. These taxes have created tension between the two country's markets, making it harder for businesses to sell in either country. But due to new agreements, this trade war may be coming to an end.

Commercial Space Travel has been a dream for years. Most science fiction media would tell you that it’s all aliens and fantasy—but it has become the dream of many humans to walk on the moon. The National Aeronautics and Space Administration (NASA), while usually in the spotlight when talking about space travel, is not the top organization researching private flight.

The dominant generation of the post-financial crisis era, millennials followed Generation X when it came to be accumulating massive amounts of debt. For millennials, it was student loans, and for GenX, mortgages. Although most millennials entered workplaces with high student debt, their spending power and surveys indicate that this holiday season, millennials are indeed going to deck the halls with jolly, jolly spending.

The Forbes Corporations update has been completed on the globalEDGE website.  The site now has the most recent Corporations from Forbes World’s Largest Public Companies List.  The new information is located in the Corporations tab in the sidebar of each country.  Countries can be located by selecting "By Country" from the "Global Insights" drop-down menu.  The Corporations are separated into sections by country.  For example, the United States corporations are located here.  The Corporations tab of each country includes the name, industry, sales, profits, assets, and market value of each company that has its headquarters in that country.

The Country and State Trade Statistics sections of the globalEDGE website was recently updated to reflect the most recent 2018 data.  This data includes global exporter and importer rankings, total trade statistics, rankings of top trade partners, and the leading goods imported and exported from an area.  Be sure to check out these pages at the links below to learn more about how trade is played out around the world.

The state of our environment has become a hot button topic as many companies are turning to environmental sustainability. Each year there are approximately 14 billion pounds of trash dumped into the ocean. While many small non-profit organizations are setting out to try and fix this problem, it does not seem to be getting substantially better. China has 6 rivers in the “Plastic Ocean Input top 20”, 3 of which are in the top 4. This means these rivers are the top polluted rivers due to the ocean’s pollution. Other countries in the top 20 affected are Bangladesh, Cameroon, Colombia, Ecuador, Indonesia, Philippines, Nigeria, Vietnam, Myanmar, and Taiwan. Now large companies are trying to fix this problem by creating new products that integrate this ocean plastic waste into their new products. And it may actually be working.

The International Business Knowledge Quiz, located in the Tools and Data tab on the globalEDGE website, has been recently updated. Questions more accurately reflect the most up to date information and statistics, in addition to some minor grammatical fixes. The quiz is a great way to learn about numerous countries and global business partnerships. With a test bank of around 100 different questions, the quiz can be taken multiple times while still offering new information. 

The global pork market is currently facing a major obstacle: African swine fever.  This disease has severely cut China’s hog population, which is predicted to drop around 40 percent from the beginning of 2018 to 2020.  This will consequently reduce global pork production by 10 percent in 2020 and is especially consequential because China is the world’s leader in pork sales, yielding a value of 118.2 billion dollars in 2018.  The disease and its negative effect on the ability of the pork industry to meet market demand have caused pork and bacon prices to rise, likely leading to the largest jump in price since the mad cow disease epidemic of 2004.  With such a big shift in the meat industry, questions arise about how the pork segment will respond and how this shift will impact the meat industry as a whole.

The iPhone 11 was recently released at another staggering retail price of between $699 and $1099. The iPhone 11 is claimed to be the most advanced phone that Apple has made, using their signature face-reading technology and increased camera power to draw in their customers. While there is still a strong demand for the newest phone by Apple, there is a new phone company that is making waves in the cell phone market.

This year Halloween doesn’t just have everyone scared from horror movies and ghosts, but also the newest Brexit deadline. The United Kingdom is projected to leave the European Union in just over a month, and they still have no planned deal for a quiet exit. With Boris Johnson suspending Parliament, the question stands of how a “No Deal Brexit” will hurt other countries and Globalization.

Advertising is – and always has been – an ever-changing and evolving way to market goods and services.  As new types of media have developed over time, advertisers have had to make the leap from newspapers to television to websites as marketing platforms.  Yet, there is a new type of advertising that is proving extremely useful to companies: social media influencers.

Artificial Intelligence (AI) systems have been skyrocketing over the last ten years. With the emergence of Google’s Siri, Amazon’s Alexa, and other informational AI's, companies continue to try and advance their offerings to be compatible with these tech assistants. The newest breakthrough in AI technology occurred just this week.

Whether you call them soda, pop, coke, or fizzy drinks, soft drinks are popular across the globe and are defined as a carbonated, nonalcoholic beverage by the Merriam-Webster dictionary.  The term soft drink was originally coined to distinguish flavored drinks from hard liquor, and the first soft drinks were marketed in the 17th century as a combination of lemon juice, water, and honey.  Later, the first carbonated drinks appeared in the 18th century as health remedies.  Today, soft drinks are mass-produced using a combination of water, carbonation, flavoring syrup, and bottling the product to sell to consumers.

From cheese to milk to butter, yogurt, and ice cream, dairy is found in many forms across the globe and is used and consumed in a multitude of ways throughout the world’s varying cultures.  Dairy plays an essential role as the base ingredient of many foods and is a major industrial product in many economies.  The main source of dairy comes from cows, which can be raised and bred in mass numbers to obtain product that satisfies the demand of the population.

Socks have long been an important clothing item to society, dating back to around the eighth century.  Today, socks are mass produced around the world and are an essential item in many peoples’ wardrobe.  From athletic, to dress, to casual, there are now a variety of types of socks that are catered to each individual’s occasion and a plethora of patterns and colors exist within these categories.  Whether functioning as an outfit essential, stylish accent piece, or just to keep feet warm or cool, socks have displayed abundant uses across countries.

Just 10 years ago, no one knew what Netflix was. In fact, in 2008, then Blockbuster CEO, Jim Keyes said, Netflix isn’t “even on the radar screen in terms of competition.”

Today, Netflix is the preeminent leader in the streaming service business with more than 125 million subscribers worldwide, and Blockbuster declared bankruptcy only two years after that interview.

As spring break passes for students and people around the world begin to get a taste of warmer spring weather, the global ski industry will work to close out the winter season with strong earnings and participation.  Millions of people elect to swarm to the snowy peaks of ski resorts each year, taking on the slopes in hopes of finding leisure, winning a competition, or satisfying their adventurous spirit.  With the recent passing of the 2018 Winter Olympics in PyeongChang, China, the industry is hoping to capitalize on recent attraction to winter athletics in previously lacking regions like Russia and previously mentioned China.

The State Insights section was recently updated by the globalEDGE team.  These sections include background information, important trade destinations such as ports and major cities, and a list of trade contacts for each of the 50 American states.  In addition to this information, Fortune 1000 company rankings and data, trade statistics, and resources designed to enhance your business knowledge are included within the State Insight sections.

In the mid-2000’s, smartphones took the world by storm.  Offering a plethora of abilities and functions to users, these intricate devices were obsessed over by people around the world, connecting users to anything they desired with the click of a button or a tap of a screen.  Recently, however, the smartphone market has experienced several missteps and subsequent difficulties selling their products to consumers.

Jamaica is a small island country in the Caribbean Sea, about half the size of the American state, New Jersey.  Since its origin, the country has functioned through an agricultural emphasis.  Settled by the Spanish and English in its early discovery, Jamaica was used as a slave island that farmed staple crops to accommodate world trade.  Even after gaining independence in 1962, the country’s economy remained agricultural as a consequence of the past slavery.

Transportation has long been one of the most essential and transformative processes in society.  Today, e-commerce, fast-paced business environments, and a focus on improving logistics thrust transportation into the spotlight as a necessary day-to-day operation and the main form in which these actions are carried out is automation.  Cars have a wide variety of human uses, from picking up children from school, to moving perishable goods across land, to clearing snowy roads efficiently.  Because of this, the automotive industry continues to be one of the largest and most talked about markets on Earth.

A whirlwind news topic that seems to reveal new headlines and developments each day, technology is changing society more than ever before.  As companies and consumers key in on how technology has the potential to positively and negatively impact their futures, research, testing, and product roll-outs are being conducted around the clock to create new innovations and introduce them to a global market hungry for personalization and advancement.  This blog will aim to shed light on how technology will impact three key economic industries: transportation, 3D printing, and online consumption.

Watches have long been a staple accessory for both men and women across the globe, worn as both a fashionable piece to add to an outfit and a useful tool for keeping track of the time of day.  The additional value watches create as a generational keepsake, and their tendency to be an item that can hold its value over many years makes watches favorable investments or gifts.  With a variety of options from low to high price ranges, sport to luxury watches that feature varying materials, and newly popular smartwatches, the global watch market continues to do well despite the disruption that smartphones and similar technologies have caused.

A necessary and functional accessory for students of all ages, day-to-day employees, and travelers across the globe, backpacks are widely consumed as a staple of transit and activity.  With their versatility that a variety of uses—from storing school supplies, to holding electronics, to carrying clothes and food—backpacks provide users with many ways to tote their belongings and are one of the most invested in goods with total sales value projected to climb over 25 billion dollars in 2018, and increase to over 30 billion dollars by 2021.  The backpack market currently holds a value of about 16-20 billion dollars and is expected to hold over 25 billion dollars in 2022.

A roof over your head and a bed to sleep in—shelter is one of the most coveted and widely sought after needs in our world.  With billions of homes built around the world as a way to protect people from the outdoor elements and provide refuge to rest, it’s no wonder that the global real estate market is one of the most highly-valued and invested-in sectors in the world.  Holding a total estimated value of 217 trillion dollars in 2017, 75 percent of which comes from residential property, real estate is a massively important component of the worldwide economy.   In fact, the market is expected to generate 4.263 trillion dollars of revenue alone by 2025.

The world is always looking for the next technological advancement that will bring in money and make everyday life easier. Right now, the fastest startup in the world to reach one billion dollars is Bird rentable scooters. Bird, along with its competitors, Lyme, and Skip, have taken advantage of people's newfound love for easy and fast modes of transportation in crowded cities and around college campuses. This is especially popular with younger people as most of the users are college students or young adults that live and work in cities and have little use for cars. Bird has combined the incredible ability of smartphones with the need for more public transportation and has created apps that allow people to locate scooters everywhere and give them a cheap and easy way to get places quick. This works because of its ubiquitous accessibility. Whenever someone needs one, it is a click away, and when they did, they simply put the kickstand up and continue with their day.

Halloween, or All Hallows’ Eve, wouldn’t be complete without one of its most distinguishing symbols—the pumpkin.  Each year, people from countries like the United States, the United Kingdom, Germany, and Ireland purchase, pick, carve, and/or display these bright orange gourds in celebration of Halloween.  Pumpkins also mark an essential decoration, food staple, and representation of the fall season, and consequently have a significant place in the global economy.

At the heels of the United Nation’s groundbreaking report detailing the necessity for “unprecedented changes in the next decade” to avoid permanent damage to the Earth’s environment, sustainability and waste management in the business world, and beyond, have become essential factors of commerce across the globe.  The concept of creating products and services that are sustainable in the long-run is integrating itself as a key driver of companies’ operations and value chains, and innovation is necessary to achieve substantial results.  While efforts to keep our planet living intensify, so too will the call for businesses to operate environmentally safe processes.

Jack Ma and Mukesh Ambani are two of the biggest powerhouses in business today, with their net worth being 38.2 billion and 49.2 billion, respectively. But the influence of these two men stretches far beyond their wealth. These businessmen, through exuberant wealth, name recognition, and influence have greatly influenced not only the unities of their countries but also the economies.

One of the worlds premier decorations, art is hung, stood, and displayed in places all over the world.  Whether a wall painting, sculpture, or online design, art is a topic that is frequently overlooked as a major influence on society.  Much like it can be overlooked as something that simply belongs on a wall, the global art market is not often talked about in the economy.  Despite this, the art industry is a 63.7 billion dollar global market that deserves attention.

To a large group of the world population, luxury brand goods sit on a mythical alter—their rarity, expensive price point, and high demand make them difficult products to obtain.  From items like watches and handbags to clothing and shoes, these retail brands carry the ‘best of the best’ merchandise and make it a point to tell consumers.  Recent news from the United Kingdom-based company, Burberry, shows the lengths that luxury brands go to in order to preserve their pristine, high-status image, and whether or not they are worth it.

One of the world’s favorite beverages and a major source of caffeine for many students and employees, coffee continues to be an integral factor in society’s daily routine.  According to Business Insider, coffee is the second most sought-after commodity in the entire world, with an industry that is worth over $100 billion across the globe.  In terms of exporting alone, the industry is valued at $20 billion and continues to be on the rise—on average, 500 billion cups of coffee are consumed on Earth every year.

This is the fourth post in a five-part blog series focused on future trends in business.

Most people have heard about blockchain, either in the news, in a conversation or on social media. Many recognize the term but could not explain what it is. Blockchain was originally created for Bitcoin, a digital currency, but now is the backbone of a new internet. The technology allows digital information to be distributed and not copied which has led to blockchain to be called “digital gold” as well as factors such as its durability and robustness. It cannot be controlled by a single entity and has no single point of failure. This leads to an utter transparency of data and it being incorruptible. All these positive sides of blockchain have led it to become a large benefit to businesses in the future.

This is the second post in a five-part blog series focused on future trends in business. 

Huge corporations are working towards achieving a sustainable business environment. This is achieved when businesses are able to manage the triple bottom line. The triple bottom line is the process by which a business is able to meet the three sustainability pillars - financial, social, and environmental efforts.

Around the globe, playing your favorite music, making phone calls, and listening to lectures or podcasts has been made more convenient with the help of one of the world’s most popular products—headphones/earbuds.  Strolling through college campuses, it’s a common sight for students bustling to and from classes to don a pair of earbuds or headphones.  In global workplaces, many employees play music through headphones to increase their focus and achieve better results.  Taking private calls has been greatly aided with the use of earbuds that work much like Bluetooth earpieces but offer much better quality—the noise canceling functionality that many of these products feature to make it simple to tune out background information and allows calls to be made without having to step out of a room.  This coveted usefulness has people around the world buying into the headphone and earbud market.

Microwavable TV dinner trays, notebooks, tissues, packages, and newspapers are all derived from one of the world’s most used products—paper.  According to Green America, “40 percent of the world’s industrial logging goes into making paper, and is expected to reach 50 percent in the near future.”  Furthermore, the global consumption of paper has skyrocketed 400 percent in the last four decades, and in the last 20 years alone, the use of paper products has gone up from 92 million tons to 407 million tons in 2014.  The worldwide paper industry is the fifth largest consumer of energy and is credited for four percent of the entire population’s energy use.

Chewing-gum—from the baseball diamond to office workplaces, over 100,000 tons of gum is chewed per year around the world.  Dating back to ancient times, different versions of gum have been used as a means of trade in Africa, stress relievers in Greece, and a construction material in Central America.  To this day, chewing-gum continuous to hold its position as a popular commodity on our planet.

This is the third post in a five-part blog series focused on the energy industry.

As our world’s supply of nonrenewable resources slowly dwindles, society is being forced to consider new methods of generating energy in a continuously growing world.  A major focus has been put on turning earth’s natural products like wind, sun, and water, and additionally nuclear power, into devices of energy production.  Fifty countries agreed at the Climate Vulnerable Forum to make 100% of their energy renewable by 2050.  The construction of wind turbines, solar panels, and nuclear reactors is spearheading this dive into renewable energy while having a definite impact on business.

Ice cream—the frozen dessert has become somewhat a staple of society’s diet, with countries across the globe indulging on and/or producing the dairy treat.  Ice cream is available for purchase at a wide variety of retailers—spanning from grocery stores to restaurants to street carts—and the variety is expanding each year with the additions of new flavors and consistencies like gelato.  Overall, the market is expected to be worth $97.3 billion by 2023.

2017 is quickly coming to an end with many major holidays approaching in the blink of an eye. People are beginning to search for the perfect gift for their significant other and grandmothers. Black Friday, and more recently Cyber Monday has played a large part in the purchasing of holiday gifts. Black Friday originated in Philadelphia, Pennsylvania in the 1950s and expanded across the globe in the last ten years.

The sneaker industry is becoming a new fad in today’s society, and led by sportswear behemoths Nike and Adidas, is transforming the market into one of the world’s most profitable and demanding sectors.  Propelled by the resurgence of Adidas footwear in popular models like the “Ultra boost,” “NMD,” and rapper Kanye West’s coveted creation, the “Yeezy,” and the continued success of Nike in models such as the “Air Jordan” and “Air Max,” consumers are lining up to purchase sneakers more than ever.  One way producers are ensuring the continued success of their products is by making purposely small amounts of their sneakers in order to create an atmosphere of excitement and exclusiveness that buyers aim to obtain.  This then allows the producers to release the same shoe in larger quantities at a later date—a restock—and gain high sales rates, making their profit margins even larger.  Transparency Market Research expects the world sneaker market to be worth $220.2 billion by 2020.

Big data has long been a buzz word in the business world, with the seemingly endless benefits more data can bring. Companies use data to spot trends and find consumer preferences, allowing for things like personal advertising and targeted pricing. While big data can be very helpful, some businesses find trouble transforming the vast amount of information into useful insights.

Innovation is crucial in the business world, and as companies and businesses grow larger, they often find it difficult to promote new ideas. Bigger companies are usually less mobile, and quick changes to operations and strategy become much harder to implement after initial success. For companies looking to break this mold, empowering upper level management is very important, in order to enact the changes needed to push the business culture toward innovation.

It is well known that entrepreneurship has been declining over the last few decades, but what is the real cause behind it? There are many different theories, from schooling systems, religion, student debt, economic hardships, a change in attitudes, and a more talk, less action society.

In a recent Entrepreneur article, Jane Porter discusses the psychology of the average workday, giving tips on how to get more out of each day. In today’s blog, we will look some of the suggestions given in the article, as well as take a broader look to see how a normal workday might differ in several countries. One of the main takeaways from the article is that workers should look at the workday as several blocks of time, instead of one single eight-hour period to accomplish their tasks. Splitting the day into sections takes advantage of what psychology tells us about our brains and behaviors, and may help workers accomplish more of the goals they set out for themselves.

At the end of the past decade, many millennials began to move in with their parents in order to save money throughout the recession and declining job market. Despite the belief that these young adults would move back to living independently once the economy improved, there are even more of them living at home than there were before according to a study by Pew Research Center. The national unemployment rate for young adults declined to 7.7% in the first four months of this year, compared to the 2010 figure of 12.4%. Despite this, the center analyzed recent census data and was able to find that 18 to 34-year-olds are less likely to be living apart from family members than they were even at the worst point of the recession, which was the worst economic downturn since the 1930’s.

In this gE Blog Series, we feature the Nordic countries, which consist of Denmark, Finland, Iceland, Norway, and Sweden. Together the Nordic countries make up a cultural and geographical region in Northern Europe and are integrated economically, historically, and linguistically. In the most recent Doing Business Economy Rankings by the World Bank Group, all five of the Nordic countries were ranked in the top 14 out of 189 countries. The rankings measure the ease of conducting business and reflect how conducive each country’s regulatory environment is to a business operation. In all, ten factors are used to rank the countries. A few of the most notable factors are ease of starting a business, paying taxes, trading across borders, and enforcing contracts.

As companies grow and expand, some start to lose focus on their core business, as focus is called to other areas. If these expanding companies want to keep a competitive edge on competitors, they will need to find an option that will allow them to regain focus on the core business.  One of the requirements for this strategic growth of a company is intellectual outsourcing.

As technology continues to grow and change throughout the world, the way consumers pay for their products is also changing. Consumers are using credit and debit cards at an increasing rate compared to cash, even with small purchases less than $5. According to a survey, one third of American consumers said that they usually pay for purchases under $5 with a card rather than cash. Even more surprising, 51% of those between the ages of 18 and 29 reported that they prefer to use a card when dealing with transactions under $5.

Businesses around the world are starting to realize the potential Africa has for global business growth. With more than half of its population being under the age of 35 and its middle class on the rise every day, companies especially in the US are funneling money into the continent in hopes to rope in some of the business opportunity.

The second richest man in the world, Carlos Slim, made a proposal this week that might excite employees around the globe. Slim, the Mexican telecom magnate, told those at a business conference that he thinks employers should move to shorter work weeks that promote increased leisure time for employees without losing productivity. His proposal had employees reporting to work only three days a week, giving workers four day weekends year-round. He believes that the shorter weeks would help to boost employee morale and increase leisure activities, which in turn would have a positive effect on the economy.

For more than three months now, the online retailing giant Amazon has been locked in a feud with the publishing company Hachette, which is part of the French media group Lagardère. At first, the feud seemed to start as a pricing dispute over e-books distributed by Hachette. Soon, the disagreements began to multiply and cover even more issues, leading to drastic courses of action by both companies. Booksellers everywhere are nervously anticipating this battle, for whatever decision the two rivals come to will set an important precedent for the relationship between Amazon and publishers. However, it is unclear when this war will end.

Yesterday, our latest blog post examined the business effects of the new tuition reimbursement plan of Starbucks at a macro-level. Today, we will cover the plan in more detail to learn how it could affect workers on an individual level. In attempts to decrease employee turnover, many large companies are seeking new retention strategies. Starbucks is using an education incentive to achieve this goal. Its new “Starbucks College Achievement Plan” will help qualified workers pay their full tuition for online courses taken through Arizona State University. And although the program has impressive benefits, some critics believe that it will not help workers as much as it promises.

This past week marked an announcement that was truly groundbreaking. Howard Schultz, the CEO of Starbucks, informed the nation that all employees of his company would be eligible to attend college on the dime of Starbucks itself. Companies in the past have paid for schooling of certain members of their organizations but this is the first time that a company is willing to send any employee of the company to college.

As the world continues to embrace technology and its many advantages, business also has begun to rely more and more on technology, storing large amounts of sensitive data electronically. The ease at which computers can store and access information is a major reason for the shift toward electronic storage. With the efficiencies computers bring to the market, a new area of risk has been inadvertently created. The storage of sensitive information on computers opens business up to cyber attacks, with hackers looking to acquire company or customer information such as passwords or credit card numbers. The hackers can then use or sell this information, harming businesses, consumers, and company reputations.

A disgruntled employee can have catastrophic effects upon the work environment of a company. Although it may begin with one person being unmotivated to complete their daily work tasks, his or her negative energy can impact other coworkers. One employee's unproductive mannerisms can also cause management resources to be diverted away from employees who consistently work hard and accomplish all tasks. In the long-run, this behavior is helpful to neither the employee nor company, as the company accomplishes less and the employee feels unsatisfied with his or her work. However, new human resources programs are being created to combat this issue in an innovative way.

The most important way to ensure achievement of mergers and acquisitions is to make sure the integration process with the other company is successful. While this may not be the most exciting aspect involved in merging companies together, it is by far one of the most important phases. Companies need to focus tasks on the integration process and make sure not to over-look it in practice.

A big topic in business today is the evolution of the new digital world. It is vital to businesses that want to continue being successful to recognize and adapt to the new trends. Companies will either take flight in the new age or dwindle and faze out. This holds true for nearly every industry as global business has become technologically advanced.

In First, Break All the Rules, authors Marcus Buckingham and Curt Coffman explore what the world’s greatest managers do differently.  Their conclusions are based on over 80,000 in-depth interviews of managers conducted by the Gallup organization.  The book reveals that the world’s greatest managers differ in age, gender, and race, but seem to have one thing in common – they do not hesitate to deviate from the rules of conventional wisdom. 

As companies become more global, it is important for management teams and boards to realize the effect that a company’s national culture can have on its performance. In their book, Fish Can’t See Water, Kai Hammerich and Richard D. Lewis argue that often management and boards are blind to their own culture, and may not realize the negative effects that culture can have on their company’s success. The book describes two different models of identifying how culture affects corporations, describes national cultures in seven different countries and how they affect corporations, and then walks through a series of case studies.

What makes a company great? Journalists, universities, think tanks, and CEO’s themselves have been trying to find the formula for decades. The rise of the multinational corporation has only increased the desire to find what makes a company great. With companies that are so large and have such diversified products, the variables that enter into the equation seem infinite. In the book Good to Great, Jim Collins attempts to identify what allows companies to make the leap from being a good company to being a great company.

One thing companies are always concerned with is productivity. How can managers increase their productivity? How can they increase their employees productivity? Companies along with scientists have spent huge sums of money trying to figure out the key to not only productivity but success—both on an individual and company wide level.

It is no secret that happy employees are more productive and overall better employees. Employees that identify as low well-being are seven times more likely to be absent from work and seven times more likely to be looking for a new job. This leads to an overall lack of productivity from what is known as presenteeism. Presenteeism is when employees physically show up to work but lack productivity because they may be having any multitude of personal problems.

A topic becoming more and more popular in the business realm today is the differences of Generation Y, otherwise referred to as Millennials, and the rest of the workforce. The needs, wants, and leadership styles of Generation Y are drastically different from earlier generations; this is causing a great shift in the way businesses operate around the world. Generation Y is the generation born between the 1980’s and early 2000’s. Millenials are currently working in the business world and will continue entering for years to come. It is vital for companies everywhere to learn and adapt in order to retain Generation Y employees.

Pensions have become an increasingly talked about topic of late. With bankruptcies of cities, and most notably of Detroit, it is unsure whether people who worked their entire lives with the promise of a retirement will actually receive such. The trick with pensions is how does a company or city adequately plan for retirement costs decades into the future?

Imagine a company that cares profoundly about the well-being of its customers, treats its suppliers as part of the family, with the same care and love as it shows to its own employees and customers. Imagine a business where those who are lucky enough to be employed, rarely, if ever, leave and every employee is committed and passionate about their work.

If you’re saying to yourself, “not possible, unreal,” you're part of the majority. But, the management paradigm shift is catching on and it could turn the classic management style upside down.

On November 9th at the Business College Complex at Michigan State University, Eli Broad spoke to students of The Eli Broad College of Business about his views on business, philanthropy, and the future of education. Eli Broad funded the The School of Business at Michigan State University, and has continued to support his alma mater throughout his life. Through his many different careers he gained a vast amount of knowledge in many aspects of business, helping to facilitate his long and successful run in the business world.

As we just celebrated the 4th of July, instead of honoring the mark of this nation’s freedom, there is more talk about the holiday falling on a Wednesday. This is the time families travel miles to spend the weekend together and enjoy fireworks and cookouts. Employees see this as an opportunity for a potential long weekend. Tuesday becomes the new Friday and they become less productive and more unfocused. Employers on the other hand cannot afford to lose such a critical day in the week.

Work-life balance has always been a priority for employees, but not all workplaces have given it the same respect. The amount of vacation time and the number of hours employees are required to work in a week vary greatly across the world. Much of this is a result of cultural differences and tradition, but it also can greatly affect the productivity and happiness of workers. Overworked and unhappy employees can be extremely unproductive. There are many theories and methods for improving morale, but one of the simplest ones is limiting the amount of time employees are working. Sounds simple right? For many employers, it hasn’t been so easy.

The perfect leader is outspoken, bold, voices opinions, and is a people person right? Not necessarily.  Whether we realize it or not, we often associate many extroverted traits with strong business leaders and assume that those who are introverted will not be as successful. This is not always true. There are several characteristics that introverts possess that businesses could benefit from that are probably being overlooked.

Hop on that plane, business travel is back! After the global recession hit, many companies scaled back on corporate travel. More sophisticated technologies along with cost cutting initiatives around the global recession also led to a decline in business travel. To companies less travel meant lower costs, and more virtual meetings. While this may have helped some companies’ bottom lines, some saw business relationships and sales numbers suffer.

Forbes has just released its list of "Best Countries for Business" and this year Canada has reached the top. Canada jumped up from last year’s number 4 spot to claim the top spot on the list. Countries were ranked based on 11 key factors including “property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.” Through a variety of reliable sources, Forbes was able to evaluate countries based on these characteristics and rank the countries in order of business attractiveness.

Forbes recently came out with an article outlining a list of the top Global High Performers. This list targets companies around the globe that are doing well in regards to profit growth, the return to stockholders, return on capital, and sales growth. These main categories help show an interesting shift to companies not many instantly think of and others that are continuing to blow us away.

While the global economy has been slowly improving, it is still not back to where most would like it to be – especially for those out of work looking for jobs. The good news is fewer positions are being cut, and more people are choosing to leave jobs on their own. Still, for every open position, there are several candidates out of work. This puts the power in the hands of the hiring managers. In this intensely competitive environment, it is important to set yourself apart.

Some time ago, a female finance manager in the USA said to me "It doesn't matter who you are or how smart and hard-working you are, the business world you will get to know as a woman is different than the actual business world." These are definitely not the most encouraging words, but it is no secret that to this day it is still much more difficult for women to advance in the business world. For females, the competition takes a different shape. No matter the difficulties however, women in the Middle East have found a solution in enterprenureal finanace.

In part one we talked about the huge environmental costs for companies and the economic impacts these may have. Now we want to see what can be done, if reporting these costs should become standard, and the benefits this may have. Already many companies have made huge investments in reforestation, reducing water consumption, and an overall protection of natural resources. With the rising costs of valuable resources which are in danger, it only makes sense that these become a regular part of a company’s investment. With a strong sustainability agenda, corporations can help business be perceived as the place to best change what is going on in the world. As more companies realize how much sustainability helps their financial accounts, they’ll want to know how best to report these costs, and what can be done about them. The best step is to no longer ignore what’s going on, no matter what way you look at it.

In order to see if a company is viable as a going concern, environmental costs are vital to know for the long-run. The benefits to preserving the environment in terms of dollars may be surprising, but it’s not to many business leaders these days. A private sector solution may be the best solution on a global scale. Just last week, Puma became the world’s first major corporation to report the details of the cost of the company’s impact on the environment. They said the costs of the carbon emission and the water it used in 2010 totaled $134.3 million. The costs not only included the company, but all of its suppliers as well. The next step for the company is to measure their cost of waste and land-use change. Ecosystems are vital to the performance of most companies, and integrating the true costs of extracting these services could significantly impact bottom lines in the future.

In a recent Forbes article, they highlighted the top 10 green companies in the world. These companies have all in some way contributed a global environmental management system by reducing emissions, adjusting their manufacturing process, becoming environmentally certified and doing the best to adjust their performance records into a more positive light.

Everyone sees the recycling label, the organic food label, and sometimes something similar to the Rainforest Alliance label on their food and home products. These let us know what the product stands for and where it came from. Now a new label may be appearing on many of your household products, the WindMade label.

The world is changing rapidly.  People are becoming more interconnected than ever.  Information is increasingly easier and cheaper to come by.  Whether it's texting, social media, emailing, faster logistics, or finding information on the internet, it all leads to one thing, making a faster paced and more competitive business environment.  Here are some top trends in business that are already happening but will play a significant role in the future.

It’s no secret that in these hard economic times companies worldwide have had to streamline processes and cut back on costs. These cut backs are starting to directly affect the value consumers are getting for their money. Now, due to rising global food prices, food and beverage companies are struggling more than most and having to cut back even more. Chips are mysteriously missing from bags, canned vegetables contain fewer ounces than before, and packaged goods of all types are seeing box size reductions. Even things like diapers are seeing shrinking package sizes. This is certainly not good news for consumers.