H.G & W

Bracing for Recession?

On August 2, the stock market suffered a severe blow, with $2.9 trillion wiped off global equities, marking the worst trading day since the 2020 COVID-19 crash. By August 5, the US market continued to decline, with the Dow Jones dropping 1,034 points and the S&P 500 experiencing its largest fall since 2022. Japan's Nikkei index also fell dramatically, its biggest drop since 1987, plummeting by 12.4%. Major tech companies faced significant losses, with Nvidia down 6.4% and Apple falling 4.8%.

The downturn has been exacerbated by disappointing new jobs figures from the US, which showed a rise in the jobless rate to 4.3%, the highest since October
2021. These figures have intensified concerns about a potential recession, affecting consumer confidence and potentially tightening budgets for small businesses.

🚀 In-Depth Analysis: Walmart Inc. 🚀

We are thrilled to share our latest review report on Walmart Inc., the global leader in retail. From innovative e-commerce strategies to impactful sustainability initiatives, discover how Walmart continues to dominate the industry and drive business growth.

Read the full report to uncover key insights and trends that shape the future of retail. 🌍📊

👉 https://tinyurl.com/yttbfkda

Hermès: Quality & Growth

Hermes has defied the trend of struggling luxury brands by reporting a 13% increase in second-quarter sales. Founded in 1837 by Thierry Hermès, the brand initially made high-quality saddles before moving into luxury bags. Today, Hermès is renowned for its extravagant fashion items, with even basic bags costing around $20,000.

The company's quarterly sales surged to €3.7 billion, contrasting with struggles faced by competitors like LVMH. Luxury items, particularly Hermès' highly coveted bags, are often viewed as investments due to their enduring value and the thriving second-hand market. For instance, Hermès' iconic Birkin bags have appreciated by 14.2% over the past 30 years, thanks to their exclusivity and high demand.

When you produce products of such exceptional quality, it fosters steady demand and helps you navigate through economic downturns.

🌍✨ Spotlight on the Dangote Group: Africa’s Industrial Powerhouse! ✨🌍

Our latest review report delves into the remarkable journey of the Dangote Group, West Africa’s largest conglomerate. Swipe to explore their market dominance, job creation, and groundbreaking innovations. 🚀

Discover how their visionary leadership and commitment to sustainability are shaping the future of Africa's economy. 🌱📊

🔗 https://tinyurl.com/582xtb67

Canva New Al Acquisition

Canva is making waves in the Aussie start-up scene with its latest move: acquiring the Al start-up Leonardo.Ai.

Leonardo.Ai, an Australian company known for its image generation technology, originally focused on gaming but has since expanded its reach. Although the exact price of the acquisition hasn't been disclosed, Leonardo. Ai raised $47 million last year and saw its user base triple to 19 million monthly active users.
It's been referred to as "the next Canva" due to its rapid growth and Australian roots.

This merger could be Canva's strategic response to Microsoft's new Al-powered design software, Designer, which we covered in last week's news.

🌟 Today's Focus: Harnessing AI for Competitive Advantage! 🌟

At H.G & W, we're leveraging artificial intelligence to stay ahead in the competitive landscape.

Discover how AI can transform your business operations, drive innovation, and boost performance.

Link: https://tinyurl.com/ywrtthjx

🚀🤖

Rex Airline Enters VA

Rex Airlines has entered voluntary administration, halting all flights between major airports while continuing regional Saal 340 services. This move follows financial struggles and a 5% sales drop. Virgin Australia is stepping in to help affected passengers with free rebooking and is exploring partnerships to support Rex's regional services. The federal government isn't planning a blanket bailout but will review specific support requests.

The broader implications of Rex's administration highlight systemic issues within Australia's aviation industry. The dominance of the Qantas-Virgin duopoly, which controls about 94% of domestic travel, has been criticized for stifling competition and keeping airfares high.

🌟 Exciting Opportunity! 🌟

H.G & W is launching the Virtual Business Intelligence Internship Cohort 1, specifically for aspiring professionals in Africa & India!

🎉 Scan the QR code to check eligibility criteria and join us for an incredible learning experience.

Don't miss out on this chance to elevate your skills and career!

🚀📚

The Google Killer

OpenAl is taking aim at Google Search with its new feature, "SearchGPT."

Since launching ChatGPT in November 2022, OpenAl has showcased Al's potential to the public. Now, with SearchGPT, they aim to transform the search engine landscape.
SearchGPT promises to deliver clear and quick answers to your questions, earning it the nickname "Google Killer".

This new tool can sift through thousands of sites to provide the best summarized answers to your questions. However, many websites are concerned that these summaries could significantly cut into their traffic by reducing the need for users to visit their pages. Plus, in a world where news can vary widely depending on the source, there's worry about how well Al will juggle facts and opinions.

Fortescue Cutting 700 Jobs

Fortescue Metals Group, one of Australia's largest companies, has announced it is cutting 700 jobs worldwide. Despite its ambitious green goals, the company has struggled to meet investor expectations.

Founded in 2003, Fortescue is now the fourth-largest iron ore producer globally. The company is also leading the way in green hydrogen technology, aiming for net-zero emissions by 2030. However, to address financial pressures caused by these ambitious goals and rising energy costs, Fortescue is restructuring its business and scaling back its hydrogen projects.

This situation highlights the challenges of balancing innovation with shareholder value and long-term growth.

Microsoft New Al Design Tool

Microsoft recently launched a new Al-powered design app called Designer, aimed at helping beginners with basic design tasks.

Think of Designer as Microsoft's version of Canva, but with a twist. It offers prompt templates to kickstart your design process and includes many of the features you'd expect from Canva. What sets Designer apart is its integration with OpenAl's technology, enhancing its capabilities to potentially places Canva has been unable to reach.

Not great news for Canva but great news for small business owners looking to take design into their own hands.

🌟 New Article Alert! 🌟

Are you managing a remote team or planning to?

Check out our latest article on "Best Practices for Managing Remote Teams." Learn how to establish clear communication, foster a strong team culture, set clear goals, leverage technology, promote work-life balance, provide continuous feedback, and lead by example.

Empower your remote team to achieve their full potential! 🚀📈

Read more by clicking the Link: https://tinyurl.com/24kztm4c

🌍💼

Apple TV + Can't Keep Up

Apple TV+ is reportedly struggling to attract viewers compared to its spending. Despite investing $20 billion in original content and receiving strong reviews and awards, Apple TV+ only captures 0.2% of TV viewing in the US and has less monthly viewership than Netflix's daily numbers.

To address this, Apple is scaling back spending and focusing on budget constraints for upcoming seasons of popular shows like Severance and Foundation. Apple TV+ is also aiming to reduce its reputation as a high spender in the streaming industry, even as it continues to invest heavily in flagship shows like The Morning Show.

As Apple TV+ approaches its 5th anniversary, the company is reassessing its strategy to become more profitable and competitive, especially against leaders like Netflix and Disney.

Googles Largest Acquisition!

Google is eyeing its biggest acquisition yet, with late-stage talks underway to buy cybersecurity firm Wiz for $23 billion USD.

Alphabet, Google's parent company valued at $2.25 trillion, is in advanced negotiations with Wiz, a rapidly growing Israeli cybersecurity firm founded just four years ago!

Why the focus on cybersecurity? As cutting-edge generative technologies and Al increasingly operate in the Cloud, major corporations are highly concerned about data security. Google aims to leverage this acquisition to strengthen its position as a leading player in the Cloud market.

📱🌍 MTN Group: Leading the Charge in Telecommunications 🌍📱

Our latest review report dives into how MTN Group is revolutionizing connectivity with 5G deployment, driving digital transformation, and making a significant social impact through its CSR initiatives.

Discover how MTN is shaping the future of telecommunications in Africa and beyond.

Link: https://tinyurl.com/mr4b3r22

Coco & Eve Raised $100m

Australian beauty brand Coco & Eve has secured $100 million in funding from a US private equity firm, which will now hold a majority stake in the company. Founded in Melbourne, Coco & Eve has gained popularity through viral TikTok and Instagram campaigns, attracting millions of followers and numerous user reviews.

This investment highlights a growing trend of international interest in Australian beauty brands. Coco & Eve joins the ranks of Bondi Sands, which was sold to Japan's Kao Corporation for $450 million, and Aesop, acquired by L'Oréal for $3.7 billion. Coco & Eve's success is part of a remarkable trend of Australian beauty and fashion brands making waves globally.

🌟 Big News! 🌟

H.G & W is on track to become B-Corp Certified by 2025! 🎉

We're dedicated to meeting the highest standards of social and environmental performance, accountability, and transparency.

Follow us as we work towards creating a positive impact!

🌍✨

400k New Millionaires by 2028

By 2028, Australia will see a 21% rise in millionaires, adding 400,000 new ones. This growth is driven by surging home values, increasing superannuation balances, and inheritances. In 2023, Australians' wealth rose nearly 10%, placing them as the second-richest globally by median wealth, at $388,192 USD.

Although many feel financial strain due to inflation and high interest rates, Australia's wealth is mainly tied up in property. UBS data shows that wealth mobility is high, with a 52% chance for top earners to drop down a bracket.

Australia's strong showing per capita underscores its robust financial health relative to other countries.

📢 Stay Connected with H.G&W! 📢

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Scan the QR code to join now! Don’t miss out on our exciting news and opportunities.

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🌟 Big Announcement 🌟

H.G & W is partnering with learn to Live Business School to prepare for the future of work! 🎉

This collaboration aims to empower individuals with the skills and insights needed for success in an evolving business landscape.

Follow us for more updates on this exciting journey!

Space X & X Leave California

Elon Musk announced that SpaceX and X will move their headquarters from California to Texas in response to a new California law that prevents school districts from requiring parental notification of a child's gender identification change.

Musk criticized the law, stating it was the final straw following other regulations he believes attack families and companies. Spacex HQ will relocate to Starbase, Texas, and X HQ to Austin. Musk had previously warned Governor Newsom that such laws would drive families and businesses out of California. This move follows Musk's 2021 decision to move Tesla's headquarters from Palo Alto to Austin.

🌍📦 DHL: Leading the Way in Global Logistics 🌍📦

Discover how DHL is transforming the logistics industry with its vast global network, cutting-edge technology, and unwavering commitment to sustainability.

From innovative e-commerce solutions to exceptional customer service, DHL sets the benchmark for excellence.

Learn more in our comprehensive review!

Link: https://tinyurl.com/3bryva6r

Nickel Mine Shutdown Hits BHP

BHP, previously Australia's largest company by market value until last week when CommBank surpassed it, is downsizing its workforce due to intense competition in the nickel market, particularly from Indonesia. The mining giant, which currently employs 80,000 people, has decided to suspend operations at its nickel mine in Western Australia for up to three years. This decision will impact around 3,000 employees at the mine.

The suspension comes as BHP struggles to compete with the competitive prices and production volumes of nickel from countries like Indonesia, which have significantly increased their output. Nickel, a critical resource for electric vehicle production, has seen global supply surge, putting Australia at a disadvantage in an oversupplied market.

🚀 Exciting Announcement! 🚀

HG&W's Strat100 2024 is here to elevate 100 businesses to global performance starting from 8th August 2024! 🌟

Ready to take your business to the next level?
Scan the QR code to check eligibility criteria.

T&C Apply.

&W 🌍📈

Crown Sells Nobu Stake

Crown Resorts has sold its 20% stake in the Nobu restaurant and hotel chain, valued at $266 million, to refocus its gaming and hospitality business under Blackstone ownership.

The deal, part of Blackstone's strategy to streamline Crown's assets, values Nobu at $1.3 billion. Established by Robert De Niro and Nobu Matsuhisa, Nobu operates globally with over 50 restaurants and a dozen hotels.

Crown's restructuring efforts include job cuts (1,000 jols across the 3 casinos) and revamping luxury retail and dining offerings amid challenges in Australia's gaming sector.

‎“NNPC no longer owns a 20 percent stake in the Dangote refinery. They were meant to pay their balance in June but have yet to fulfill the obligations. Now, they only own a 7.2 percent stake in the refinery,” - Aliko Dangote.

Join our next ‘Africa In Focus’ Podcast to get the full impact of this decision on the economy of Nigeria and Africa at large

Spotify's Next Step

Spotity has recently introduced several new features aimed at enhancing its social networking capabilities.

Spotify continues to expand its influence across the audio landscape, encompassing music streaming, podcasting, and now audiobooks, boasting a significant user base of 600 million monthly active users. In a strategic move towards enhancing user engagement, Spotify has introduced new features allowing listeners to comment on podcasts, signalling its progression towards integrating social networking functionalities within its platform.

While Spotify and X have very similar monthly active users, X generates about four times the ad revenue because their users spend significantly more time on the platform arguing with each other!

Zoom Digital Twin

Zoom is revolutionizing remote work with its latest endeavour: creating a digital twin to replace you during meetings.

Launched in 2011, Zoom became a household name during the global lockdown, with its share price skyrocketing over 750% between Jan - Oct 2020. While the frenzy has settled, Zoom is now on the hunt for innovative ways to reignite user passion.

Enter the CEO's bold plan: enabling users to clone themselves, with Al replicas capable of representing them and making business decisions in meetings. With this breakthrough, Zoom envisions users attending only 10% of their current meetings.

Would you entrust your daily business decisions to an Al clone?

The Cheapest Supermarket?

New national research has revealed that Aldi offers grocery items at prices approximately 25% lower than major supermarkets Coles and Woolworths.

Consumer group Choice compared the prices of the same 14 everyday items at supermarkets around the country. This comparison of 14 common items aims to enhance transparency amid concerns about price gouging in the supermarket sector.

The results: Aldi's average basket cost $51.51, significantly undercutting Woolworths at $68.58 and Coles at $69.33.

During a cost-of-living crisis it is information like this that helps empower the Aussie consumer!

🌐 Leveraging Big Data for Business Growth 📊

In the digital age, data is the new oil. Discover how businesses can harness Big Data to drive growth, innovation, and competitive advantage. From improved decision-making to enhanced customer insights, the potential is limitless. Dive into our detailed article to learn more about the key strategies and real-world examples of Big Data success.

👉 Read the full article here: https://tinyurl.com/mr46u4xv