YesAsia has collaborated with Geek+ to create a new smart warehouse that will not only be one of the tallest warehouse facilities in the world but also one of the most tech-enabled. The new facility will be located in Tsing Yi, Hong Kong, and will have the highest number of Autonomous Mobile Robots (AMRs) deployed in any one warehouse in Hong Kong. E-commerce businesses like YesAsia have faced many challenges since the start of the pandemic and logistics and supply chain management has been up there as one of the biggest. The new warehouse is designed to help the online retailer improve this area of operations and allow for greater efficiency by working with a leading AMR specialist like Geek+. The step is just one example of the ambitious strategy that YesAsia has deployed, integrating greater digitisation and automation across the enterprise to help ensure that the business continues to thrive.
In the wake of COVID-19 we have seen expectations rise when it comes to global supply chains. There are many factors that are bringing more uncertainty to this space, from political unrest to changing economic landscapes and the US-China trade war. As a result, safe and resilient supply chains are now the goal for organizations and governments alike. Hong Kong is already investing heavily in the infrastructure and people that deliver on expectations for sustainable and efficient supply chains. The city is the regional base for some of the world's biggest logistics firms, which makes it a natural go-to as a supply chain leader - and it has a number of key location-based advantages too. These include the fact that the airport here is the world's busiest cargo handler and the port is ranked within the international Top 10. Investing in innovation, partnerships and infrastructure that make the most of the geographic advantages that the city has are all key to optimising on the potential of Hong Kong as a fast mover in global supply chains.
New research has identified that vacancies for fintech talent are on the rise since the pandemic began to wind down, with a wealth of opportunities for those in fintech jobs. In fact, there has been a spike in vacancies of 182%, which means that the fintech talent market is outperforming the broader market by three times. One of the key challenges for many organisations is going to be finding the right talent to fill these positions, as there are major shortages across the tech sector today. Experts predict that the rate of expansion of the fintech market going forward will depend, to a certain extent, on how able enterprises are to find the right people to help their organisation to grow. Adoption of fintech products continues to expand exponentially, while the tech labor market remains tight, so there are major challenges ahead for the firms that are involved in this market.
A new warehouse is being opened in Chippenham by the tech firm Huboo, which will create 400 logistics jobs for the area. Huboo has developed technology that provides online retailers with the tools access and complete end-to-end fulfillment operations and the increased demand for its services has required the firm to add significantly to its capacity. The new 106,000 sq ft facility is not the only expansion that the firm is undergoing, as the announcement about the Chippenham warehouse came shortly after the business expanded its operations in Europe too. Huboo said that Chippenham was the ideal location for the new warehouse because it has great transport links to nearby cities like Bristol and is also very well connected when it comes to ports like Southampton too. The 400 new jobs being created at the warehouse will include roles such as hub manager, site manager and site supervisor.
UK asset management growth has faced a number of challenges in recent times, from weaker markets through to acute competition on fees. Perhaps one of the harshest moments for UK asset and wealth managers was savers and investors pulling back £2.5 billion from UK-domiciled retail funds earlier in 2022. That came after high outflows had already marked the first month of the year. While there has obviously been a negative impact from this there are also positives - and M&A and consolidation in the industry is potentially one of them, as this looks set to drive up asset and wealth manager growth this year. There are a number of mergers and acquisitions that are notable, including Abrdn's acquisition of content platform Finimize and RBC's bid for Brewin Dolphin. Given changes in share prices thanks to the aforementioned conditions there could be a lot more M&A activity yet to come this year where asset and wealth management is concerned.
Fintech is a market on the rise all over the UK, including in Edinburgh where the local fintech community was on the receiving end of a £300 million UK government investment last summer. However, while this might seem like the optimum time for startups to break new ground in the sector it is actually presenting some challenges, primarily when it comes to recruitment. Fintech is a red-hot recruitment market right now and this is making it very difficult indeed for many newer firms to attract the talent necessary to spur growth in 2022. Wage inflation and higher expectations from candidates are two reasons for the market becoming increasingly challenging for startups, as well as the general skills shortages that exist across technology. There is a limited talent pool in fintech and many of the same enterprises are currently fighting over these people, including those that have much more substantial resources than many startups have to offer.
Chip and component shortages for the auto industry have been big news for some time now. However, it's not just in the production of new cars where these issues are having an impact. Many production lines have been hit by these challenges - including the likes of Mercedes-Benz and Volkswagen - and the result has been far fewer cars coming off the assembly line. A consequence of this emerged earlier this year when prices in Germany's used car market jumped 27% from the year before. The auto market in Germany is the largest in Europe and generally reflective of wider trends. The average cost of a new car is now EUR 31,801, which is the highest on record. Although many manufacturers are not suffering extensively due to these supply chain problems (Mercedes saw an 8% bump in first quarter revenues this year), it is going to put a lot of pressure on consumers who are already struggling with inflation.
Higher rates of turnover and spikes in consumer demand have seen manufacturing organisations hiring at record rates in recent months. The necessity of building a resilient talent pipeline in order to keep filling roles in thriving businesses has become increasingly obvious. This has seen many manufacturing enterprises reportedly using many more diverse methods when it comes to recruitment, such as utilising text recruiting because around 70% of manufacturing job seekers said they prefer to receive a text during the hiring process. Also vital is making commitments to increased diversity, not just due to the benefits this can have in accessing a wider talent pool but also because 40% of manufacturing candidates have enquired about an employer's diversity efforts during a job interview. With around a third of the manufacturing workforce aged 55 or older there are clear incentives for manufacturing organisations in diversifying recruitment approaches in order to find the necessary talent to fill vacant roles.
UK tech firms are being incorporated at an increasingly fast rate, with 38,000 established in 2021. This is a 62% increase on the year before, which bodes well for enterprise solutions jobs over the coming year. London remains a central hub for all things tech and the highest number of incorporations was in the Capital last year. However, regional growth has also been strong and the West Midlands has been performing especially well with an increase of 61% incorporations over the past 12 months. The North East is not far behind with 59% more incorporations and Northern Ireland has seen a 44% rise. This unprecedented level of tech company incorporations shows just how much of a hub the UK has become for innovators in this field. This is partly due to the impact of the pandemic, during which many more businesses were forced to embrace technology more extensively, and also the development of infrastructure and systems in recent years.
Teesside is set to become a new tech hub in the UK thanks to the multi-million-pound digital facility that has been opened at Middlesbrough College. The centre was officially opened back in April by Microsoft's former Chief Envisioning Officer who said that it would be a transformative resource for people all over the region, whether they are new learners, industry experts or businesses looking to acquire new skills. The facility is cutting edge and is part of the bid that Middlesbrough college made to deliver pioneering new technology qualifications, which has been approved by the government. The new qualifications will be called 'T-Levels' and will be supported by the latest in educational resources, from cyber labs and video editing suites to a games design suite and a comprehensive TV studio. The ethos behind the new centre is to encourage collaboration 'between humans and machines' and the idea that anyone should be able to access technology and training.
The global intelligent power module market size is expected to grow from USD 1.8 billion in 2022 to USD 3.0 billion by 2027, at a CAGR of 10.7%. The increasing usage of IPMs in industrial, consumer electronics and automotive verticals are the key factors boosting the growth of the market.
Pea Protein Market by Type (Isolate, Concentrate, and Textured), Form (Dry and Wet), Source (Yellow Split Pea, Lentils and ChickPea), Application, and Region (North America, Europe, APAC, South America and ROW ) - Global Forecast to 2027
Automotive V2X Market by Connectivity (DSRC, and Cellular), Communication (V2V, V2I, V2P, V2G, V2C, and V2D), Vehicle (Passenger Car, and Commercial Vehicle), Propulsion (ICE and EV), Unit, Offering, Technology, and Region
The global industrial lubricants market size is projected to reach USD 73.3 billion by 2024 from USD 62.8 billion in 2019, at a CAGR of 3.1%, during the forecast period. The growing demand for industrial lubricants in countries such as China, India, Japan, and South Korea from the construction, metal & mining, power generation, cement production, and automotive industries is expected to fuel the growth of the industrial lubricants market in the region. The market is evolving, with major players playing a crucial role in the development of new and advanced products.
The molded pulp packaging market is growing rapidly in accordance with the growth of the packaging market, globally. Factors such as cost-effectiveness, sustainability, and growth in demand for recyclable food service disposables and packaging products have largely contributed to the growth of the molded pulp packaging market. The molded pulp packaging market is classified on the basis of molding type, source type, product, end use, and region. It has experienced continuous progress in terms of acquisitions, mergers, and expansions in the packaging industry. According to MarketsandMarkets, the global market for molded pulp packaging, in terms of value, is estimated at USD 3.5 billion and is projected to reach USD 4.4 billion by 2024, at a CAGR of 4.4%.
An investigation on behalf of investors of The Charles Schwab Corporation (NYSE:SCHW) shares over potential securities laws violations by The Charles Schwab Corporation and certain of its directors and officers in connection with certain financial statements was announced.