(AFP via Getty Images) Also Read: Standard Chartered profit slumps as credit impairments mount Like all banks, Standard Chartered has been hit hard by the worst economic slowdown in modern history. It noted that its profit had been squeezed by lower interest rates and bad loans. Harry Robertson Show Comments ▼ Standard Chartered suffered a 33 per cent drop in pre-tax profit in the first half of the year as it braced itself for loans to go bad amid the coronavirus pandemic. “The benefits of the early stage recovery in some of our markets and our geographic and product diversity are unlikely to be enough to offset the impact of low interest rates and the probability of less buoyant conditions.” The figures (AFP via Getty Images) by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo! JustPerfact USABeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach Raiderbonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comNoteableyAirport Security Couldn’t Believe These Jaw-Dropping MomentsNoteableyNews SharperChrissy Metz Is So Skinny Now And Looks Like A Model (Photos)News SharperBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerPost Fun25 Worst Movies Ever, According To Rotten TomatoesPost Fun But Stanchart is particularly exposed to Hong Kong, which had a harsh security law imposed on it by China last month. The lender broke from its politically neutral stance and backed the law, drawing criticism. Stanchart’s credit impairments – its expected losses on loans – rose to $1.58bn in the first half of the year from just $254m a year earlier. That more than wiped out a slight rise in income. The bank’s shares dropped 3.9 per cent after it said it expects “expect new waves of Covid-19 related challenge in the coming quarters”. (AFP via Getty Images) Also Read: Standard Chartered profit slumps as credit impairments mount “We are feeling the acute impact of the Covid-19 pandemic across our markets and in our business,” said chief executive Bill Winters. But he added: “We came through that period with a clean bill of operational health and with higher income [and] lower costs.” This and the related fall in both interest rates and oil prices created extremely challenging operating conditions in the first half of the year. However, credit impairments of $611m in the second quarter were down from $956m in the previous three months. The bank was helped by activity in its trading arm amid the first half’s market chaos. Profit fell just 13 per cent in its corporate and institutional banking division to $1.13bn Thursday 30 July 2020 10:27 am What Standard Chartered said Standard Chartered profit slumps as credit impairments mount Why it’s interesting Share But profit in its retail banking section dropped by 48 per cent to $326m in the first half. whatsapp The developing markets-focused bank’s pre-tax profit dropped 33 per cent in the six months to 30 June. That took it to $1.63bn (£1.26bn) from $2.41bn in the same period a year earlier. whatsapp In its results, the bank said there were risks from “the escalation of tensions between the US and China in part due to the growing trade, security, social and political tensions in Hong Kong”. Standard Chartered also said it would keep costs down as it faced an uncertain remainder of the year. It confirmed a “small number” of jobs cuts. Standard Chartered said that its income “is likely to be lower both half-on-half and year-on-year in the second half of 2020”. Statutory earnings per share fell 13 per cent to 25.8 cents from 38 cents in the first half of 2019.
Awards WatchFilmNo Big Surprises But A Few Snubs at 2014 Oscar NominationsSorry about that, Tom Hanks, Lee Daniels, and the wigs in American HustleBy Elina Shatkin – January 16, 2014717ShareEmailFacebookTwitterPinterestReddItIf you paid attention to this year’s Golden Globes, you won’t be surprised by the 2014 Oscar nominations, announced early this morning from a bunker deep beneath Hollywood (read: a standard press conference).American Hustle and Gravity topped the list, receiving 10 nominations apiece, and 12 Years a Slave earned nine. Nebraska, which earned a few nominations but no trophies at the Golden Globes, was another big winner, netting six Oscar nods.As for the snubs, although Barkhad Abdi earned a nomination for best supporting actor in Captain Phillips, the film’s lead, Tom Hanks, was shut out. Also shut out were the Coen Bros.’ Inside Llewyn Davis and Lee Daniels’ The Butler (sorry, Oprah). Perhaps the strangest snub: American Hustle didn’t receive a nomination for its wigged out hairpieces in the makeup and hairstyling category. The 2014 Academy Awards will take place on Sunday, March 2. Here’s the full list of the nominees:Best PictureAmerican HustleCaptain PhillipsDallas Buyers ClubGravityHerNebraskaPhilomena12 Years a SlaveThe Wolf of Wall Street Best Supporting ActorBarkhad Abdi, Captain PhillipsBradley Cooper, American HustleJonah Hill, The Wolf of Wall StreetMichael Fassbender, 12 Years a SlaveJared Leto, Dallas Buyers Club Best Supporting ActressSally Hawkins, Blue JasmineJennifer Lawrence, American HustleLupita Nyong’o, 12 Years a SlaveJulia Roberts, August Osage CountyJune Squibb, Nebraska Best DirectorDavid O. Russell, American HustleAlfonso Cuaron, GravityAlexander Payne, NebraskaSteve McQueen, 12 Years a SlaveMartin Scorsese, The Wolf of Wall Street Best ActorChristian Bale, American HustleBruce Dern, NebraskaLeonardo DiCaprio, The Wolf of Wall StreetChiwetel Ejiofor, 12 Years a SlaveMatthew McConaughey, Dallas Buyer’s Club Best ActressAmy Adams, American HustleCate Blanchett, Blue JasmineSandra Bullock, GravityJudi Dench, PhilomenaMeryl Streep, AugustOsage County Best Original ScreenplayAmerican HustleBlue JasmineDallas Buyers ClubHerNebraska Best Adapted ScreenplayBefore MidnightCaptain PhillipsPhilomena12 Years a SlaveThe Wolf Of Wall Street Best Animated FeatureThe CroodsDespicable Me 2Ernest & CelestineFrozenThe Wind Rises Best Foreign FeatureThe Broken Circle Breakdown, BelgiumThe Great Beauty, ItalyThe Hunt, DenmarkThe Missing Picture, CambodiaOmar, Palestine Best Visual EffectsGravityThe Hobbit The DesolationIron Man 3The Lone RangerStar Trek Into Darkness Best CinematographyThe GrandmasterGravityInside Llewyn DavisNebraskaPrisoners Best Costume DesignAmerican HustleThe GrandmasterThe Great GatsbyThe Invisible Woman12 Years a Slave Best Documentary FeatureThe Act of KillingCutie and the BoxerDirty WarsThe Square20 Feet from Stardom Best Documentary ShortCaveDiggerFacing FearKarama Has No WallsThe Lady in Number 6 Music Saved My LifePrisoner Terminal The Last Days of Private Jack Hall Best Film EditingAmerican HustleCaptain PhillipsDallas Buyers ClubGravity12 Years a Slave Best Makeup and HairstylingDallas Buyers ClubJackass Presents Bad GrandpaThe Lone Ranger Best Music (Original Score)The Book ThiefGravityHerPhilomenaSaving Mr. Banks Best Music (Original Song)Alone Yet Not Alone from Alone Yet Not AloneHappy from Despicable MeLet It Go from FrozenThe Moon Song from HerOrdinary Love from Mandela Long Walk to Freedom Best Production DesignAmerican HustleGravityThe Great GatsbyHer12 Years a Slave Best Short Film, AnimatedFeralGet a Horse!Mr. HublotPossessionsRoom on the BroomBest Short Film, Live ActionAquel No Era Yo (That Wasn’t Me)Avant Que De Tout Perdre (Just Before Losing Everything)HeliumPitääkö Mun Kaikki Hoitaa? (Do I Have to Take Care of Everything?)The Voorman Problem Best Sound EditingAll Is LostCaptain PhillipsGravityThe Hobbit The Desolation of SmaugThe Lone Survivor Best Sound MixingCaptain PhillipsGravityThe Hobbit The Desolation of SmaugInside Llewyn DavisLone Survivor TAGSAcademy AwardsAmerican HustleAwardsAwards WatchGravityL.A CultureMoviesNominationsOscarsOscars 2014Previous articleBest Vintage ShopsNext articleIs This the Least Expensive Prix-Fixe in L.A.?Elina Shatkin RELATED ARTICLESMORE FROM AUTHORWhy the Golden Globes Blew UpThe 2022 Golden Globes Have Been Booted by NBCThe Oscars Red Carpet Was Back in a Big Way
Katie Keir Another jump in prices tightens the squeeze on U.S. consumers The tone of the U.S. Federal Reserve’s most recent beige book seems to be “so far, so good.”“Economic activity generally continued to expand modestly in the final six weeks of 2019,” said the report released Wednesday. Some factors included “solid” holiday sales, vehicle sales that “expanded modestly” and steady bank loan activity, even while home sales data and tourism activity were mixed across different regions. COURTNEYK/ ISTOCKPHOTO This follows a similar message earlier this month, when Federal Reserve meeting minutes from December indicated that the central bank saw much less risk of both a recession and U.S. -China trade war at that time.The beige book is published eight times per year and reports on current economic conditions in the U.S. Data are collected by Federal Reserve banks in each of the 12 districts represented within the central bank, and data sources include reports from bank directors and surveys of businesses and economic experts.Even while “tariffs and trade uncertainty continued to weigh on some businesses,” the report found the near-term outlook for the U.S. was “modestly favourable across the nation.”The outlook for both employment and retail prices was also modest, the report said. Employment has been rising, but hurdles such as labour shortages, job cuts in weaker sectors such as energy and “reduced hiring among manufacturers” are all contributing to tight labour markets.Prices also continue to rise. “A few districts indicated that some businesses were passing along tariff costs to consumers — mostly in retail but also in construction,” the report said.One result could be a closer race between Canadian and U.S. stock markets, according to top bank economists from this side of the border. Due to global tensions between the U.S. and various countries, and the impending presidential election, the American economy and its businesses may struggle.At an Economic Club of Canada event earlier this month, economists from CIBC Capital Markets and BMO Financial Group also noted trends such as slowing profit expansion — and even sluggish population growth — in the U.S.Even so, all but one of the 12 regions in the beige book reported slightly improved economic conditions.The outlier was the Federal Reserve Bank of Philadelphia, which said business activity had slowed in the final weeks of 2019. Still, “most firms [surveyed] expressed cautious optimism,” that bank stated in the report, further explaining that “homebuilders and auto dealers experienced slight-to-modest growth after a prior period of slight decline and no growth, respectively.”On the other end of the spectrum was the Federal Reserve Bank of Dallas. “Economic activity expanded solidly,” it stated, citing strong home sales and hiring.The Federal Reserve makes its next rate announcement on January 29.CME Group’s FedWatch tool, which shares target rate probabilities based on futures market activity, predicts the central bank will stand pat on rates (with approximately 85% probability) just as it did in December. Keywords Economic forecasts, U.S.Companies Federal Reserve Board Related news Stagflation is U.S. economists’ biggest fear, SIFMA says Economy lost 68,000 jobs in May Share this article and your comments with peers on social media Facebook LinkedIn Twitter
Facebook LinkedIn Twitter S&P/TSX composite hits highest close since March on strength of financials sector TSX gets lift from financials, U.S. markets rise to highest since March In New York, the Dow Jones industrial average closed up 704.81 points at 24,242.49. The S&P 500 index was up 75.01 points at 2,874.56, while the Nasdaq composite was up 117.78 points at 8,650.14.The Canadian dollar traded for US71.24¢ compared with an average of US70.81¢ on Thursday.The June crude contract ended down 50¢ at US$25.03 per barrel and the May natural gas contract was up 6.7¢ at slightly less than US$1.75 mmBTU.The June gold contract closed down US$32.90 at US$1,698.80 an ounce and the May copper contract was up 5.4¢ at US$2.35 a pound. Share this article and your comments with peers on social media North American markets ended up with a late-day surge as investors looked to optimistic signals in the fight against the COVID-19 pandemic, while the loonie rose against the U.S. dollar.The S&P/TSX composite index closed up 460.56 points at 14,359.88 as energy and finance stocks rebounded from a day earlier. Related news Keywords Marketwatch 123RF Canadian Press Toronto stock market dips on weakness in the energy and financials sectors
Parramatta records strong positive demand Parramatta is continuing its rise with more new office space coming onto the market, according to the Property Council of Australia’s Office Market Report released today.Net absorption in Parramatta has increased to 28,673sqm, while the vacancy rate has risen from 4.8 per cent to 6.4 per cent over the six months to January 2021.“For all that is going on in the world, Parramatta is still in a strong position,” the Property Council of Australia’s Western Sydney Regional Director Ross Grove said today.“Parramatta now has more office space leased than it had pre-COVID, and we have more people taking up office space than leaving.“While there is growing demand for office space, we also had more new office space which came onto the market, meaning our vacancy rate has risen from 4.8 per cent to 6.4 per cent. This is still the lowest vacancy rate of any commercial centre in New South Wales and sits well below the nationwide average, which saw a rise from 9.6 per cent to 11.7 per cent over the same period.“These results are pleasing for everyone with an interest in the success of Parramatta, but we cannot afford to take our foot off the pedal. We need the government to press on with its infrastructure agenda, and we need the public and private sector to promote the return of workforces to our CBD.“The return of the workforce to Parramatta is crucial to supporting our local cafes, restaurants and drycleaners. Our small businesses bring life and joy to our city. They’ve been through an extraordinarily tough year and the return of their customers is an important step in reactivating our city, “said Mr Grove. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, council, director, Government, infrastructure, market, New South Wales, Parramatta, property, Property Council of Australia, real estate, Ross, Small Business, Sydney, Western Sydney, workforce, world
Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: Dec. 7, 2005 Special recognition ceremonies will be held by most of the schools and colleges at the University of Colorado at Boulder next week in addition to the main commencement ceremony on Friday, Dec. 16, at 9:30 a.m. in the Coors Events/Conference Center. The schedule of Dec. 15-16 events being held to recognize individual graduates includes: oCollege of Architecture and Planning recognition ceremony Thursday, Dec. 15, at 3 p.m. in the Muenzinger Psychology auditorium, room E050. oLeeds School of Business recognition ceremony Thursday, Dec. 15, at 5 p.m. in Macky Auditorium. Raymond MacFee Jr., a senior instructor at the Leeds School, will be the speaker. Tickets are required. For more information call (303) 492-1258. oCollege of Engineering and Applied Science recognition ceremony Thursday, Dec. 15, at 8 p.m. in Macky Auditorium. James Sherman, assistant dean for student services at CU-Boulder’s College of Engineering and Applied Science, will be the speaker. oGraduate School reception for doctoral students Friday, Dec. 16, immediately following the university ceremony in Fiske Planetarium. oSchool of Journalism and Mass Communication recognition ceremony Thursday, Dec. 15, at 2 p.m. in Macky Auditorium. Sandy Keziah, founder and former CEO of the marketing strategy firm Kindred Keziah, will be the speaker. oSchool of Law recognition ceremony Friday, Dec. 16, immediately following the university ceremony in Fleming Law Building’s Moorhead-Rutledge Lounge. oCollege of Music recognition ceremony Thursday, Dec. 15, at 3 p.m. in the Imig Music Building’s Grusin Music Hall. Many individual departments in the College of Arts and Sciences will hold events to recognize their graduates, some of which will not be open to the public. Interested persons should contact individual departments for further information.
Twitter Pinterest Facebook Email Share TAGSfeaturedWine Origins Alliance Linkedin AdvertisementGlobal wine alliance calls on U.S. lawmakers to heed consumers’ demand for accurate and clear wine labelsNEW YORK – The Wine Origins Alliance today released the results of a new poll that finds 94 percent of American wine drinkers support laws that would protect consumers from misleading wine labels. The results, announced at Vinexpo New York, underscore the importance location plays in wine. The Alliance also called on U.S. lawmakers to heed consumers’ demand for accurate and clear wine labels, and outlined plans to meet with members of Congress.“This survey reflects what we already knew: consumers want wine labels to accurately reflect the contents of the wine bottle,” said Anthony Sannino, president of the Long Island Wine Council. “In two days, we will be meeting with members of Congress to urge them to heed consumers’ growing demand for accurate and clear wine labels. Our current laws are not enough to protect and inform consumers.”The poll, conducted by GBA Strategies, also found that 70 percent of American wine drinkers believe that allowing American producers to misuse foreign wine region names on their labels is deceptive to American consumers, and 70 percent believe that allowing American wine producers to misuse region names makes it harder for U.S. wine regions to protect the misuse of their name on foreign labels. It also found widespread consumer reliance on information about where a wine is from: 79 percent of consumers consider the region an important factor when buying a bottle of wine.“We represent some of the world’s leading wine regions that have taken a clear, collective stand to ensure wine region names are protected and not abused or miscommunicated to consumers,” said Linda Reiff, president and CEO of the Napa Valley Vintners. “But here in the United States, some wine region names are not protected. This makes it hard for Napa and other U.S. regions to protect their names around the world when their very own government doesn’t extend that same protection to others.”In the European Union and Australia, wine region names are protected through a registry of geographical indications. In the United States, they are protected through well-established federal and state laws that protect American Viticultural Areas, or AVAs, for the wine industry inside its borders. However, the U.S. permits the use of wine region names like Champagne, Chablis, Chianti, Port and Sherry on labels of wines that do not originate in those European regions.“Texas has been making wine since the 1600s. Its distinctive climate and land has influenced the winemaking process. Thus, the Texas name should not be used on labels if the wine wasn’t produced there,” said Carl Money, founding member of Texas Wine Growers. “The same should be true for Long Island, Napa Valley, Champagne, Sherry, Chablis, Chianti Classico, Bordeaux and all other wine-growing regions.”Since 2005, the Wine Origins Alliance has been a unified force in the global winemaking industry working to raise awareness about the importance of location to winemaking and the need to protect the integrity of wine region names around the globe. Its members include 23 winery and grape-growing organizations in nine countries spanning North America, Europe and Australia. During Vinexpo, the Wine Origins Alliance released a short film featuring wine producers around the world talking about the importance of location to the wine they produce. The full film can be viewed here.“While we may compete in the marketplace, there is consensus among us that when one of our wine region names is misused, the credibility of the industry as a whole is diminished and leads to consumer confusion,” said Allan Sichel, president of the Bordeaux Wine Council. “Consumers have the right to know where their wine comes from. That is in the best interest of the consumer, the vintner, the regions and the wine industry.”About Wine Origins AllianceThe Wine Origins Alliance, previously known as the Joint Declaration to Protect Wine Place & Origin, works to ensure wine region names are protected and not abused or miscommunicated to consumers worldwide. Members represent the regions of Barossa, Bordeaux, Bourgogne/Chablis, British Columbia, Champagne, Chianti Classico, Jerez-Xérès-Sherry, Long Island, McLaren Vale, Napa Valley, Oregon, Paso Robles, Porto, Rioja, Santa Barbara County, Sonoma County, Texas, Tokaj, Victoria, Walla Walla Valley, Washington state, Willamette Valley and Western Australia. For more information, visit origins.wine or follow the Alliance on Twitter and Facebook. Advertisement Home Industry News Releases New Poll Shows Broad Support for Laws to Protect Against Misleading Wine…Industry News ReleasesWine BusinessNew Poll Shows Broad Support for Laws to Protect Against Misleading Wine LabelsBy Press Release – March 5, 2018 53 0 ReddIt Previous articleAbe Salt Appointed as CEO of Villa MariaNext articleAfternoon Brief, March 5 Press Release
RelatedMore Than 100 Scammers Arrested RelatedPM Says Communities Must “Stand Up” Against Crime FacebookTwitterWhatsAppEmail Photo: JIS PhotographerMinister of National Security, Hon. Peter Bunting (right), is greeted by President and Chief Executive Officer (CEO), Jamaica Public Service (JPS), Kelly Tomblin on his arrival at the company’s Sports Club in Kingston for the official signing of a partnership agreement, through which 20 youth from the Citizen Security and Justice Programme (CSJP) will receive on the job training at the JPS over a six-month period. The signing took place at the company’s Sports Club, in Kingston, on February 6. At centre is Senior Vice President, JPS, Gary Barrow. JPS Opens Door to At-Risk Youth National SecurityFebruary 7, 2014Written by: Chris Patterson RelatedDr. Davies Outlines Major Investment Projects To Diplomatic Corps Story HighlightsThe Ministry of National Security and the JPS will create job experience opportunities for at-risk youth in the Corporate Area.The initiative will see 20 youth from the CSJP receiving on the job training at the JPS over a six-month period.The CSJP has taken these youth through Levels 1, 2, and 3 Certification in Electrical Installation and Maintenance at the HEART Trust/NTA. JPS Opens Door to At-Risk YouthJIS News | Presented by: PausePlay% buffered00:0000:00UnmuteMuteDisable captionsEnable captionsSettingsCaptionsDisabledQualityundefinedSpeedNormalCaptionsGo back to previous menuQualityGo back to previous menuSpeedGo back to previous menu0.5×0.75×Normal1.25×1.5×1.75×2×Exit fullscreenEnter fullscreenPlay The Ministry of National Security has partnered with the Jamaica Public Service (JPS) to create job experience opportunities for at-risk youth in the Corporate Area.The initiative, which is estimated to cost $5 million, will see 20 youth from the Citizen Security and Justice Programme (CSJP) receiving on the job training at the JPS over a six-month period.Of the cohort, 10 will be placed in the organisation’s loss reduction team; six within the Kingston and St. Andrew field operations; and four within the transmission and distribution group.The CSJP has taken these youth through Levels 1, 2, and 3 Certification in Electrical Installation and Maintenance at the HEART Trust/NTA.They have also successfully participated in the CSJP/JDF internship programme and will now gain further experience in the world of work through this programme.Speaking at the official signing ceremony for the project on February 6, at the JPS Sports Club in Kingston, Minister of National Security, Hon. Peter Bunting, noted that initiatives such as these are crucial to Government’s crime fighting strategies.“The internship programme is looking at youth who may have been exposed in their communities to gang violence, exposed to attempts to recruit them into a criminal gang and by engaging them in these on the job internship programmes, what we intend to do is prevent that epidemic of violence from infecting these young people,” Mr. Bunting emphasised.He said that a multi-disciplinary and multi-sectoral approach by all members of society and a willingness to change, is crucial to stemming and reducing crime across the island.“If you think you can deal with crime without dealing with issues of family, education, community mental health services, the built environment and very critically, the issue of employment, then you are really spending your time battling the symptoms instead of the root cause of the disease,” the Minister argued.The Minister pointed out that the work experience will provide a platform for further employment prospects for the participants.Highlighting the importance of the initiative, President and Chief Executive Officer (CEO) of the JPS, Kelly Tomblin, said partnerships are the soul of economic and social development with the country.She added that her company is pleased to be associated with initiatives that will offer crucial training to youth.Director, Regional Operations (East), Jamaica Public Service, Omar Sweeney, said the agreement is mutually beneficial as the interns will gain valuable work experience, while the organisation will benefit from an untapped pool of talent.He informed that the graduates will be exposed to two formal training sessions at the organisation’s training school as well as on the job daily experiences.Participant in the programme, Horace Bailey, said that being affiliated to the CSJP has completely changed his life. He has pledged to continue striving for excellence.Since 2001, the Ministry of National Security, by way of the CSJP, has positively impacted the socio-economic prospects of 8,707 inner-city youth through Vocational Skills Training, Tuition Support, Job Placement and Employment Internships.The CSJP primarily targets the most at-risk youth whose vulnerability stem from having dropped out of school or being in conflict with the law. Advertisements
Apple is significantly behind competitors on 5G smartphone compatibility, but given the unwavering loyalty of its fan base is this actually more of an issue for operators eager to switch premium subscribers onto their shiny new networks?The manufacturer’s high-end base are exactly the type of customers many operators covet as 5G converts. This group could be especially lucrative in markets where access to the new network technology carries a premium price tag.However, given the large number of consumers already sold into the brand and tied to its ecosystem it’s questionable if being a 5G laggard matters to Apple at all.On previous form and given its well-publicised spat with Qualcomm the lack of early support for 5G from Apple is hardly surprising.The company was not among the front-runners to add 4G to its smartphones and the long-running dispute with Qualcomm, which supplies modems for many of the first handsets to support the new technology, only ended in April 2019. This was the same month Samsung launched its first 5G device in South Korea.After patching up its differences with Qualcomm, Apple signed a new supply contract the vendor. Though there have been sporadic rumours Apple was working on production of its own modems it is widely expected this will come much later, with the first 5G iPhones using Qualcomm’s chips.Hard sellIn an interview with Mobile World Live research manager for IDC’s European devices team Marta Pinto (pictured, right) said being late to the 5G party might actually turn out to be an advantage for the company.“Samsung had to educate on the benefits of 5G,” she noted adding, “because Apple won’t be introducing the technology they won’t have to explain what a 5G phone is and how people can benefit from services”.She added in an ideal world operators wanted a “hard sell” of 5G in 2019, but in reality by October 2020 (when Apple’s next flagship is expected) services would be more widely available.Commenting on the lack of ubiquity of 5G in places where it was available, Pinto said: “It’s hard to sell a higher-priced device in a market where there’s no benefit from the new technology.”Although 5G was a “nice to have”, she pointed to recent flagship launches from rival vendors, which had not focused on network connectivity and instead promoted devices on other features such as cameras or display technology.David McQueen, research director at ABI Research (pictured, left), played down the impact on Apple itself, noting if any party was being inconvenienced it was mobile operators, especially in markets where Apple has a large market share such as the US, Japan and Europe.“Judging by Q4 2019 smartphone shipment market share, Apple doesn’t appear to have suffered too much from not having a 5G variant, as not only did it become lead vendor for the quarter, but also grew its shipments year-on-year and at a time when all of its nearest competitors had at least one flagship 5G model in market.”LaggardIn terms of consumer perception, McQueen pointed to the fact it was not unusual for Apple to not be among early adopters of new tech.“It does impact consumer perception to some extent, with major vendors having upgraded devices that look far too similar to their predecessors, and Apple appears to be the laggard when it comes to integrating new technologies to its portfolio,” he noted.Like Pinto, he expects Apple to release compatible iPhones later this year, probably powered by Qualcomm modems due to the complexity of developing its own kit.“The launch date of 5G iPhones would probably make Apple the last of the major manufacturers to release a 5G smartphone,” he added. “It is highly likely that the price of competing 5G Android smartphones will have fallen well below the $400 mark by then.”“This timing, though, may actually fall in Apple’s favour, as Qualcomm will have achieved a certain level of scale and so Apple is sure to benefit from the availability of cheaper 5G modems.”McQueen also noted the location of the company’s major markets would also add to manufacturing fees for its 5G handsets, adding: “Apple will almost certainly have to support both mmWave and sub-6GHz spectrum somewhere across its 5G models. The former being a major requirement to serve its vital US market, which will add to cost.”Lost supportAlthough nowhere near being first to market, there is no doubt Apple will eventually shift significant numbers of 5G iPhones. With this there is sure to be a knock-on boost to operators, especially if the device maker focuses on the benefits of the new network technology in its marketing.There will be some consumers, and nobody knows how many, who were eager to jump on the 5G train early and moved to an alternative brand.How the movement of these consumers will impact Apple in the long-run remains to be seen, but once you have people out of a closed ecosystem it may be tough to win them back. Much of this will depend on the 5G experience they attained and comparisons between their new handset and their former preferred device.The editorial views expressed in this article are solely those of the author and will not necessarily reflect the views of the GSMA, its Members or Associate Members. Subscribe to our daily newsletter Back Related Intelligence Brief: What does 2021 hold for 5G in the 6GHz band? HomeBlog Blog: Is a lack of iPhone support hampering 5G? AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 19 MAR 2020 Blog: Will 5G drive additional ARPU gains in Korea? 5GAppleiPhone Author Previous ArticleTelenor brings Asia business under one roofNext ArticleTuneIn app lets users be tuned into virus information Blog Intelligence Brief: How is 5G faring in South Korea? Tags Chris Donkin Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved… Read more
HONOLULU – Jordan Spieth didn’t watch much of last week’s Sentry Tournament of Champions. He didn’t want to. For just the second time since joining the PGA Tour, Spieth failed to qualify for the winner’s-only event, which is as good a testament as any to the futility of his 2018. There are endless ways to quantify last season for Spieth – from his dramatic drop in nearly every putting statistic to just five top-10 finishes in 23 starts – but not having won is the easiest way to sum up the 25-year-old’s most challenging season. “I’d love to get back in the winner’s circle,” Spieth said simply on Wednesday at the Sony Open where he’s making his 2019 debut. Given last season’s performance, which included a failure to qualify for the Tour Championship for the first time in his career, one could imagine Spieth spending countless hours during his offseason on the practice tee with swing coach Cameron McCormick – digging for answers in the Dallas dirt. But if Spieth’s season preview at Waialae Country Club was any indication, it appears the Golden Child took a less-is-more approach. “Very little work,” he said of his offseason and added he just hoped to “knock some rust off,” this week in Hawaii. Spieth married high school sweetheart Annie Verret in November, the duo honeymooned in the Caribbean and the 11-time Tour winner took some business trips for sponsors. Otherwise Spieth’s offseason was surprisingly low key, and maybe that’s exactly what he needed. “That was good for me,” Spieth said. “I needed some time away from the game after being off and having to play through it at the end the season, and then in the fall kind of the same thing.” In nearly every way 2018 was a lost season for Spieth, who plummeted in every major statistical category – most notably in putting, where he dropped from 39th to 123rd in strokes gained: putting. To put that in context, it means he went from gaining about a third of a shot on the field each round on the greens to giving away a fraction (.034) of a shot. Your browser does not support iframes. Full-field tee times from the Sony Open in Hawaii Sony Open in Hawaii: Articles, photos and videos What work Spieth did do with McCormick in the offseason largely focused on that putter that has been such a crucial part of his success in his career. “Technology actually helped a lot when it comes to putting and whatnot,” said Spieth, who declined to go into details about his offseason putting work. “We were able to see some stuff there, and now it’s about as many reps as I can get.” Spieth’s troubles have been endlessly broken down and examined, the byproduct he acknowledges of the endless news cycle of modern media. But as he prepares for his seventh season on Tour, he’s categorized 2018 as the outlier not the onset of a new norm. He’s always taken the long view on his career, understanding the ebb and flow of playing golf at the highest level and how difficult it is to maintain the kind of consistency he enjoyed from 2015 through ’17 – when he won 10 times including three major championships. Playing at that level for a prolonged period may be the goal, but given the parity of the modern game it’s unrealistic. “When you look at a guy playing well, you wonder how he’ll ever play poorly again. You see that often,” said Adam Scott, who endured a similarly difficult 2018. “But to sustain it, Tiger [Woods] has set the mark to a point that is unrealistic almost for anybody else and with where the game is right now. I just don’t see the separation in players the way Tiger separated himself from everyone for 10 years.” Spieth easily concedes putting was a problem last year but feels his game on the greens began to turn around toward the end of the season. By that time his swing had become an issue. He also acknowledged in his signature honesty that his issues last year were almost entirely self-inflicted in an attempt to find a “quick fix” toward the middle of the season. “I know what’s wrong with Jordan Spieth, and I know what’s right with Jordan Spieth,” he said. “I know how to get where I want to go with my golf game and have fun doing it.” It’s exactly what those who have gotten to know Spieth would expect him to say after what could best be described as a pedestrian season, and he’s certainly proven himself resilient in his relatively short career. But then that ignores the rapidly evolving landscape in golf as players like Brooks Koepka and Justin Thomas continue to improve and have been joined by the likes of Bryson DeChambeau, who has won four times on Tour since Spieth’s last victory at the ’17 Open Championship. In the last 12 months Spieth has fallen from second to 17th in the Official World Golf Ranking, and as he pointed out, all the talk about the new “Big 3” (a group that included Spieth, Jason Day and Rory McIlroy) has understandably subsided. Spieth begins 2019 refreshed and refocused, exactly what you would expect from one of the Tour’s most thoughtful players. But the game marches on and he will have to reload quickly or get left behind.