Latin America News Q1 2019

 

Welcome to the Q1 issue of Latin America News Magazine, your source for the latest news, up to the minute features and cutting-edge opinion pieces from across Latin America region.

In recent news, one of the leading and fastest growing wholesale providers of telecom infrastructure in the Americas, GlobeNet has recently announced that it is offering a latest news, up to the minute features and cutting-edge opinion pieces from across Latin America region. The recent development will offer to provide flexibility for both international carriers and Latin American service providers.

In this month’s edition, we take a close look at how Banco Columbia is now one of the first banks in Argentina to implement Visa Loyalty Solutions, a cutting-edge digital payment platform and loyalty program co-created by novae and Visa, as a first step toward its digital transformation.

Elsewhere in this issue, we reveal how Shale Support a leading provider of frac sand and logistical solutions to the oil and gas proppant market, has announced a strategic partnership with Fracht Group, an international transportation company and industry leader in providing general and specialized logistics solutions. The firm will begin exportation of frac sand to Argentina’s Vaca Muerta Shale.

Also in this edition, Virtual Crypto Technologies, Inc., a developer of innovative software and hardware for the purchase and sale of cryptocurrencies, has recently announced that it has signed a Memorandum of Agreement with Consorcio WLRL SA de CV, to offer the Company’s cryptocurrency ATM product within Mexico. We look at what the effects of the expansion will have on both the company and Mexico.

The team here at Latin America News hope that you thoroughly enjoy reading this insightful issue, and look forward to hearing from you.

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IT’S HERE. THE ORIGINAL WIND LIDAR, NOW AVAILABLE FROM NRG SYSTEMS.

The Company Adds ZX 300 and ZX 300M to Its Remote Sensing Offerings

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NRG Systems, Inc., a designer and manufacturer of smart technologies for a
range of wind, solar, and meteorological applications, has announced that it will now sell and support ZX Lidars in North America. This will include the ZX 300 for onshore vertical profiling applications and the ZX300M for near-shore or platform-based offshore applications. Both models capture finance-grade wind measurements from 10 to 200+ meters and are fully IEC classified and accepted by DNV GL as Stage 3 Bankable Lidars.

NRG Systems, a global leader in wind measurement, offers the industry’s most complete portfolio of
resource assessment technologies, including met mast systems, Direct Detect Lidar, and Doppler Lidar. David Hurwitt, NRG’s Vice President, Global Marketing and Product Management, said, “We’re very excited to pair ZX’s proven technologies with our sales, logistics, and service capabilities. The
combination gives our customers absolute confidence that we can meet their complete measurement needs.”

NRG Systems was one of the first companies to venture into remote sensing for wind more than a
decade ago. Today, they offer a suite of support products and services to facilitate an optimal Lidar
ownership experience. Ian Locker, Managing Director of ZX Lidars, said, “More than 36 years ago NRG changed the way wind resource assessment was done. Today, with the addition of ZX Lidars to their product family, it’s another milestone in that change. Our Lidars are both technically and financially accepted.


They are rugged and robust. And now they are totally accessible and supported in the US and
Canada by the team at NRG.”To support the sale of ZX 300 and ZX 300M units, NRG will also offer custom power solutions, validation services, monitoring services, and inspection and update services.

Please visit NRG Systems at the WindEurope Conference & Exhibition, April 2-4 in Bilbao, Spain, and the AWEA WINDPOWER Conference & Exhibition, May 20-23, in Houston, Texas, USA, to speak with a representative in person, or contact [email protected] for more information. 

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2019 Manufacturing trends to look out for

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Year on year, technology keeps advancing and 2019 is not different. Join manufacturer of stairlifts, Acorn stairlifts as they detail the trends to watch out for when it comes to manufacturing in 2019…

Coming to the motoring world: Autonomous vehicles
The dreams of driverless cars could potentially come to life within the next 12 months. In fact, Tesla CEO, Elon Musk, has confidence that his company will be celebrating the feat of full self-driving sometime throughout 2019.

Speaking with Recode’s editor-at-large Kara Swisher, Mr Musk said: “I don’t want to sound overconfident, but I would be very surprised if any of the car companies exceeded Tesla in self-driving, in getting to full self-driving. They’re just not good at software. And this is a software problem.”

The motoring scene will benefit from self-driving cars once they roll off the production lines in working order. The USDOT website has stated that there’s the likelihood that autonomous vehicle technologies will reduce injuries and deaths on roads when you consider that 94 per cent of fatal vehicle crashes are attributable to human error, for instance.

At the same time, Daniel B. Work, an assistant professor at the University of Illinois at Urbana-Champaign, was a lead researcher in a traffic congestion study. From his research, he was keen to say; “Our experiments show that with as few as five per cent of vehicles being automated and carefully controlled, we can eliminate stop-and-go waves caused by human driving behavior.”

This change will be highly welcomed across the US, especially considering that the American Society of Civil Engineers had revealed that Americans spend over 6.9 billion hours a year sitting in traffic at the moment.

But just how popular will these autonomous vehicles become? Well, the world’s first purpose-built, mass-produced, all-electric car, the Nissan LEAF, was released in 2010. Fast forward to 2018 and Frost & Sullivan’s “Global Electric Vehicle Market Outlook 2018” report was predicting that the global sales of electric vehicles will reach 1.6 million units.

Coming to the fashion world: Clothing that adapts in real-time
Wearable devices and clothing materials are also being transformed by technological advancements, to the point where the items that we wear are becoming an extension of our bodies. We’ve already seen a couple of examples of this trend, debuted by two of the world’s biggest activewear brands.

First up, Reebok have produced a shape-shifting bra. Debuted by the firm during the summer of 2018, the PureMove bra is designed with a thickening fluid that changes the clothing’s texture in response to movement. In effect, the bra will stiffen while the wearer is moving to provide additional sport, and then soften when someone is resting.

Through a partnership between Puma and MIT design lab, adaptive shoes have been designed. The footwear comes complete with insoles which can use bacteria that responds to sweat — it also gathers biological information about the person wearing the shoes. Any changes are detected by electronic circuits, with data then transmitted to assist in preventing fatigue and, potentially, improve performance.

If these products get received well, then we can expect to see a lotmore real-time technology within clothes throughout 2019. Reebok has said that it is monitoring how customers respond to its PureMove bra and, if it’s well-received, the firm may look at similar designs for swimsuits and running tights. What’s more, Puma and the MIT Design Lab have said that they are hopeful that their collaboration can potentially change the design of everything from shoes for marathon runners to sports jerseys and baseball cleats for the better.

Coming to the mobility world: The Bond Stick
Technology developments have helped the elderly, from stairlifts that assist with going up and down the stairs, to the likes of Google Home and Alexis, allowing someone to turn on TV on or adjust their lights from the comfort of their couch.

For the senior citizens that enjoy getting out and about, we can expect to be introduced to the Bond stick, which was displayed amongst 50 products at the ninth International Ageing Asia Innovation Forum earlier this year. It’s a device that can be used as a walking cane but is designed more like an umbrella, thus helping people who might be wary about using a cane due to the stigma that’s often attached to the equipment.

Another handy feature of the Bond stick, is an auto-fall sensor which was designed by Bekind Solutions, that sees an alarm being rung if someone using the cane suffers a fall. The cane, also has a built-in mp3 player and radio that is there to reduce the rate of dementia deterioration by providing users with sensory stimulation.

Those who develop equipment for the elderly will need to bear in mind the features of the bond stick they’re looking to produce multi-functional products in 2019

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Fantastic Flavours Ice Cream Parlour: Pioneers in Artisan Ice Cream

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Beginning as a hobby, thirty years down the line Miceál O’Hurley and his wife Oksana opened the doors to Fantastic Flavours Ice Cream Parlour in 2013. Situated in the picturesque historic, seaside town of Youghal, County Cork in Ireland, Fantastic Flavours caters to families and people who prefer artisan quality ice cream, made by-hand, fresh daily, using locally sourced ingredients wherever possible. We profiled the firm and spoke to Miceál and Oksana who kindly gave us a glimpse into the delicious service found at Fantastic Flavours Ice Cream Parlour.

In 2013, amidst the crash of the Celtic Tiger economy, the dynamic-duo opened the doors to Fantastic Flavours Ice Cream Parlour. Built upon Miceál’s thirty-year old hobby of making ice cream, along with Oksana’s significant experience with a Fortune 500 company in customer service, the two quickly established a world-wide reputation for quality and service.

Although founded in Ireland, Miceál, an Irish-American, is a decorated American veteran, and a Life Member of the Veterans of Foreign Wars who spent several years working on Capital Hill and in public service. His Ukrainian-born wife, Oksana, who has a background with a Fortune 500 company, was recognised by the United States Congress and presented with a Proclamation celebrating her humanitarian, business leadership and philanthropic work. Together, they have taken American-style, artisanal ice cream to Ireland and have conquered the market by storm. Along the way, Miceál and Oksana earned an impressive number of awards, stellar reviews from food critics and have been ranked No. 1 by customers on social networking sites. Now, they are returning home to spread the brand with like-minded American entrepreneurs who share the American dream of owning their own business.

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Fantastic Flavours Ice Cream Parlour uses locally sourced ingredients wherever they possible can. With attention to today’s trend of consumers demanding better quality, fresh ingredients and quality, their luxurious café has a robust and loyal local clientele who visit the award-winning establishment frequently, and tourists who flock from miles away, to taste their award-winning ice cream with ‘More than 42 Flavours’ of handmade ice cream on rotation, daily.

Responding to their success and market demand, the two are now offering franchises – with a difference. They understand the difficulties in starting a business, and the desire to do more than simply serve mass-produced products under a franchise agreement. Following the market-crash, Miceál and Oksana had only 500 Euros to start out. By reinvesting in their business daily, meticulously documenting what worked and what didn’t, and using the success and skills earned in their previous careers in business and politics, their hard work and commitment to quality and service quickly paid off. Fantastic Flavours has earned many food and customer service awards, have gained the admiration of a numerous food critics and consumers have consistently agreed, placing Fantastic Flavours at the very top of the country’s social media reviews. With several national and international food awards under their belt, the pair realised that they had everything in place to create and support what could potentially be a highly successful franchise business.

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Many people who want to own a small business have a passion for food, however they may not have strong backgrounds in customer service, or business, administration, financing, advertising, regulatory compliance and all of the other elements that are required to be successful in business. As such, Fantastic Flavours franchises will offer entrepreneurs who have a passion for either food and/or service an affordable opportunity to own their own and operate their own business, without having to waste money on the mistakes that doom most start-ups and build upon the brand success that Fantastic Flavours has already achieved.  Opening a new business that can already boast years of awards for quality and service and a reputation for superior artisan ice cream, along with the dedicated support of a couple who built their business from the ground-up, is an opportunity many want to embrace.

When looking to expand the well-established business, both Miceál and Oksana want their franchises to blend the ethos of the ‘mom & pop’ shops of yesteryear, with modern business practices to meet the growing demand for consumer’s preference for artisan quality food and first-rate service, as Miceál explains. It’s not surprising that they just received the 2019 M&A Award for ‘Best New Franchise of the Year – European Union’.

“Franchising was something that we went about with focus and determination. With the assistance of experts in franchising with over 30 years in the field, we spent three-years ensuring our systems, protocols, training techniques and methods would help ensure the success of our franchise partners. Having decided to offer our franchises in areas that were underserved by locally made, luxury ice cream, and making our Fantastic Flavours franchises affordable, all while safeguarding our brand, we have laid the foundation for successful franchise businesses to thrive.”

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There are many qualities which link both Fantastic Flavours Ice Cream Parlour and the franchises – which is to create and serve handmade, artisan ice cream alongside excellent customer service in a unique and enjoyable setting. Oksana believes that by ‘sticking to the basics, such as focusing on food and service, success will surely follow.’

As for what the future holds, Miceál and Oksana have both identified one of the key benefits of owning their own business, which is to manage one’s time to fit personal goals. With two-year old daughter, Bláithnaid and the latest edition to the family, a son, Lorcán, the couple will continue to ensure that they create time to be with their family, whilst continuing to build upon what has become a world-renown brand, Miceál concludes.

“Whatever happens in the future, at Fantastic Flavours we will always maintain the traditions and embrace high-standards, all while pioneering the ever-expanding offering of flavours that have made our Ice Cream Parlour a destination of choice for locals and tourists alike. While known for our handmade, artisan ice cream, our menu of sandwiches, pizza, crepes, desserts and gourmet coffee give customers reasons to visit us and return, often. By ensuring our franchisees are successful, we know they will in-turn make our customers happy. Old fashioned values like excellent products, great service and staying customer focused is the core of our business, which is booming to this very day!”

Most of all, as the dynamic duo’s franchisees will undoubtedly be like their second-families, the pair seem destined to focus on helping another generation of small business owners to realise their dreams and supporting them on their own personal journey to success.

 

Contact details:

Company: Fantastic Flavours Ice Cream Parlour

Address:74 North Main Street, Youghal, Co. Cork Republic of Ireland

Website: www.fantasticflavours.ie

Telephone: 353 (0) 86 107 0017

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World wine value to reach dollars US 207 billion

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Global consumption of still and sparkling wine is forecast to reach US$ 207 billion by 2022 for total volume of 2.7 billion 9L cases, reveals the latest Vinexpo/IWSR wine and spirits report.

The total still and sparkling wine market will grow in volume by 2.15% between 2017 and 2022.

Driven by the trend to ‘drink less but better’, value outstripped volume growth across all regions. This is particularly evident in the Americas and Asia-Pacific. While volume and value advances in Europe were more moderate, the region continues to dominate global consumption and value shares at 58% and 50% respectively.

The USA continues to inch forward as the world’s most valuable wine market, worth
US$ 34.8 billion in 2017. France is the second most valuable market at US$ 16.7 bn, followed closely by China at third place at US$ 16.5 bn.

The Vinexpo/IWSR research predicts that China will overtake France by 2020 as the second most valuable market in the world. By 2022, the Vinexpo/IWSR study predicts that the value of the Chinese market is forecast to hit more than US$ 19.5 billion.
Ranking of the top five volume markets remains unchanged in 2017. The USA was in the lead at 318 million cases followed by Italy (266 million) France (250 million), Germany (224 million) and China (156 million).

The world’s leading import markets are Germany, number one at 126.3 million cases followed by the UK at 114 million cases. By contrast, the USA (79.9 million) and China (61 million) ranked third and fourth continue to trend positively.

In the run up to 2022, premium wines (priced at US$ 10 – US$ 20) will be the biggest driver of value growth for still and sparkling wines (+15% between 2017 to 2022). The USA and China will be major contributors to this trend.

While red wine dominates global consumption with a 55% share, it is forecast to fall below 54% by 2022. Over the same period consumption of white wine, and particular rosé, are set to rise.

Sparkling wine is putting fizz into the global market, especially in Europe which accounts for 65% of volume and 55% of value. World volume of 260.2 million cases was worth US$ 28.9 billion. By 2022 volume is expected to rise to 281 million cases, worth US$ 32.9 billion.

The US will drive import sparkling wine growth over the next few years, by adding 4.6 million 9L cases. Growth in the UK will slow. The Vinexpo /IWSR report that UK will add another 1.8 million cases between 2017 and 2022. Both US and UK sparkling wine imports will be driven by prosecco, a major driver of sparkling wine consumption.

In value terms, the top five markets are: the USA (US$ 4.5 billion) France ($3.6 billion), the UK and Germany (US$ 2.7 billion each) and Italy (US$ 2.5 billion).

While locally made spirits account for nearly 90% of consumption worldwide, international spirits are eroding this share, especially in China (baiju) and Asia-Pacific (cane, brandy and rum). Between 2017 and 2022, consumption of imported spirits will grow by 12%, to reach 399 million 9L cases.
Global spirits will inch forward in the run up to 2022. Declines in vodka will be offset by big advances by whisky (65.9 million cases) gin (9.5 million) and flavoured spirits (2.4 million).

Such is the strength of the trend to premium brands – especially in the USA and China – that all premium-plus categories (except vodka) are forecast to grow over the next five years.

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Staggering Fifty Percent Increase in Botnet Stolen Credentials According to Blueliv 2018-19 Annual C

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Blueliv, a leading enterprise-class cyberthreat intelligence company, today launched its 2018-2019 Annual Cyberthreat Landscape Report providing insights into emerging and evolving cybersecurity trends. The report reveals that botnet stolen credentials increased by a staggering fifty percent in 2017-2018, with technology and telco sectors being the target for over half of those stolen.

The research also revealed that India, Russia, USA, Vietnam and Turkey ranked the highest in the top ten most malware infected users by country, with those from Europe representing twenty percent of the total number. Additionally, Latin America became a new testing ground for cybercrime.

The cybercriminal ecosystem in Latin America has been growing steadily in recent years, due to increased internet penetration, increased digital transformation, high levels of outside investment and weak or non-existent cybercrime legislation. The report observed more than a seventy five percent year on year increase in the number of credentials belonging to Latin American markets in 2018. The second half of 2018 saw an increase of nearly two hundred percent compared to the same period in 2017.

“There’s an incredibly dynamic threat landscape in the LATAM region that’s largely being ignored. We hope to shine a spotlight on it by sharing information on the types of malicious activity we’re observing there. As the tools and techniques criminals use to carry out credential theft evolve, and reuse attacks improve, malicious attackers are finding it easier to achieve their goals, finding new targets and revisiting existing ones” commented Liv Rowley, Cyberthreat Intelligence Analyst at Blueliv. “By sharing intelligence and collaborating with others in the industry, we are in a much better position to fight the cybercrime onslaught.”

The report also explores changes in the threat landscape over the past year, unearthing trends and how they are expected to impact cybersecurity in 2019, highlighting some of the key observations to cybercriminal behaviours and attacks including:
• Ransomware campaigns decreased in popularity from 2017, but classic malicious campaigns like malware downloaders and trojans were still a trend in 2018. The significant decline in ransomware incidents is likely due, in part, to the exodus of less advanced threat actors moving away from this once-trendy cybercrime in favour of other types of crime such as cryptomining – that allow them to monetize quickly with little time and money invested.
• Pony, KeyBase and LokiPWS (also known as Loki Bot) have consistently been the most active stealers. However, current figures show that Emotet4 and AZORult now rank in the top 3 stealer samples detected by Blueliv’s labs.
• The ever-evolving Emotet trojan, re-emerged in 2018, and in November alone, Emotet was dispatching approximately 185,000 spam messages a day, utilising over 50,000 different sender emails. The recipients were largely corporate email addresses, representing 1,200,000 million different mail domains.
Stabilisation of cybercriminal underground lowers barriers to entry for hackers and fraudsters. 2018 saw the stabilisation of English-language darknet marketplaces following a prolonged period of volatility, it appears that many of the English-language darknet markets that currently exist, such as DreamMarket, Empire Market, and Wall Street Market, have established their credentials and have begun to win back users. 2019 will likely herald further increased access to malicious products and services for cybercriminals of all stripes.

“Cybercriminals continue to find new ways to combine attack methods or compromise new and existing vectors for maximum results, but there is a real lack of capacity to respond to the increasing number of cyber incidents. Organisations need to adopt a multi-faceted approach to these threats through collaboration, technology, and training which will ultimately help them become better prepared to defend and respond to the changing threat landscape”, Rowley added.

This report is intended to be a reference document for CISOs and their security teams, but also for executives interested in how cybercrime affects enterprises today. The report contains a selection of the most important cybercriminal events of the 2018, including intelligence on specific threat actors and the TTPs (techniques, tactics and procedures) they deploy.

Tactical information and analysis is derived from data extracted from Blueliv’s modular cyberthreat intelligence technology – Threat Compass. It is complemented by strategic and operational threat intelligence gathered by Blueliv’s in-house analyst team, who offer guidance around how to combat certain attack techniques and improve an organisation’s overall security posture in 2019 and beyond.

The full report can be viewed here: https://www.blueliv.com/threat-landscape-report-2019/

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US Business News Q1 2019

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Welcome to the Q1 edition of US Business News Magazine! Brining you all the latest information on new M&A activity, deals to corporate issues and trends, and everything in between. From launches, to new promotions and even award-winning law firms, this month’s edition of US Business News is packed full of insightful features, articles and news pieces for you to read.

In recent news, the leading technology company specialized in Mobile Journey Marketing (MJM), Ogury recently announced the launch of ‘Ogury Consent Manager’, designed to strengthen its Mobile Journey Marketing Cloud. Ogury Consent Manager will include a game changing capability, “Fair Choice” that provides users with an alternative to pay with their data to access quality content.

In this month’s issue, we discover more about how Swizznet offers hosting solutions to help accountants and SME’s connect and collaborate from any computer or mobile device with an Internet connection. We profiled Swizznet recently and spoke to Kristin Callan who provided us with a detailed insight into the successful company.

Elsewhere in this edition, Lips Boutique by JKA is a premier medical aesthetics clinic founded by JKA, who has over 15 years of experience in this field. Following the firm’s success in the US Business News’ Business Elite Awards 2018, we learnt more about Lips Boutique by JKA when we caught up with JKA who revealed to us more about the award-winning services the company delivers to their clients.

Also in this issue, Punctual & Valuable Solutions, S. A. de C. V., better known as P&V Solutions, is a Mexican telecommunications company with fourteen years in the industry. Recently, we spoke with P&V’s CEO, Benjamin Pensado, to find out how they have remained one of the most respected telecommunications company in the region.

The team here at US Business News hope that you enjoy reading this edition and look forward to hearing from you!

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UK consumers more likely than US to change spending habits following data breaches

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The consequences of a data breach have a greater impact in the United Kingdom versus the United States where 41% of British consumers said they will stop spending with a business or brand forever, compared to just 21% of US consumers, following a data security breach.

The research into consumer trust and spending habits was conducted by payment security specialists, PCI Pal, and pointed to some clear cultural differences between the two countries.

The survey found that 62% of American consumers would instead stop spending for several months following a security breach or hack, with 44% of British consumers agreeing the same.

Over half (56%) of all UK respondents were more reticent to give credit card details verbally over the phone than their American counterparts where it was found that four out of every ten (42%) of US respondents were uncomfortable reading out their details.

To add, US consumers were generally less accepting to provide payment details over the phone with only 15% saying they would “hand over their information, no questions asked”, compared to a quarter of UK consumers. Instead 38% of American’s would ask for an online alternative to complete a transaction, while 32% of Brits said they would “hang up and find an alternative supplier.”

“Awareness of data security is something that is on everyone’s radar, yet our UK and US surveys have highlighted some real differences of opinions and traits, when comparing attitudes to data and payment security between the two countries,” explains James Barham, CEO at PCI Pal.

“UK consumers certainly seem more guarded with providing personal information, such as payment card details, over the phone, yet the US is catching up fast. Similarly, if a security breach has occurred at an organisation, Brits appear more likely to avoid that organisation in future, and instead go elsewhere. In my opinion, 2019 is the year that organisations need to take steps to provide far clearer assurances to consumers as to how their data is being captured, processed and stored otherwise customers are not going to wait, and they may find them going elsewhere for their purchase.”

Looking at trust in businesses and brands, 55% of UK respondents felt they could trust a local store with their data more than a national company. They felt a local store was more likely to care about their reputation (30%) and hackers were less likely to target a local store as it is smaller (25%) while only 22% felt a national company would be more secure as they follow more security protocols.

In stark contrast, the reverse was true in the US with only 47% of respondents feeling they could trust a local company more than a national chain. In fact, 28% felt a national company would be more secure as they follow more security protocols, while 25% felt they have more money to invest in security protocols.

Almost a third (31%) of UK consumers stated that they would spend less with brands they perceive to have insecure data practices, compared to just 18% of US survey respondents.

Interestingly, 44% of US consumers said they have been a victim of a security breach, compared to just over one third (38%) of UK respondents.

A Psychotherapist’s View:
With a clinical and consulting practice in New York City, PCI Pal invited psychotherapist Dr Ellyn Gamberg to review the findings of the surveys to compare the behaviours of UK and US consumers and their attitudes to data and payment security.

In summary, Dr Gamberg identified:
• Both UK and US findings confer that after a security breach consumer spending behaviour are negatively affected (how much they spend, where they spend, and how they spend)
• Online, phone, and in-store security is of equal concern to all consumers
• Both UK and US consumers are concerned HOW their security is stored in record
• US consumers are more regretful than UK that they did not do better vetting of companies regarding their security measures
• UK consumers suppress their negative feelings regarding a breach longer, and take longer (or never return) to brands, compared to US consumers.

Dr Gamberg: “The research indicates differences in measurable responses between consumers in the UK versus America, such as spending habits, customer and brand loyalty; and concern over providing personal data. However, all these behaviours are results of unconscious and conscious thoughts and feelings and cannot be accurately measured by self-report. The expression and internalisation of these responses is highly personal and cultural. As a result, it is critical that this be considered in order to effectively mitigate past damage, and future efforts, to create trust.

“In addition to addressing the technical aspects of security, organisations must address what needs to be done to increase the emotional security of their customers. Ultimately, becoming proactive in setting the stage for more favourable, short-term, and long-term behavioural change will result in more loyal customers, and increased spending.”

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Construction in Peru set to reach US$36.6bn in 2023 as it gathers growth momentum, says GlobalData

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The Peruvian construction industry’s output value was estimated to be US$28.7bn in 2018. This is expected to grow to US$36.6bn in 2023 (measured at constant 2017 US dollar exchange rates), close to an annual rate of 5%, according to GlobalData, a leading data and analytics company.

Following two years of contraction, the Peruvian construction industry recovered in 2017 and registered growth of 2.4% in real terms in 2017 and by a further 4.5% in 2018. The company’s report: ‘Construction in Peru – Key Trends and Opportunities to 2023’ states that this increase was due to positive developments in economic conditions, a revival in investor confidence and investments in transport infrastructure, energy and housing construction projects.

Danny Richards, Lead Economist at GlobalData, comments: “The industry’s output value is expected to continue to expand between 2019 and 2023, with investments in infrastructure, health and education, and housing projects continuing to drive growth.”

This has already been reflected in the rise in construction permits. According to the National Institute of Statistics and Informatics (INEI), the total construction permits issued in the country grew by 13.0% in 2018.

Infrastructure construction is expected to increase in importance over the forecast period, to account for just over 29% of the industry’s total value in 2023. Growth over the forecast period is expected to be supported by the government’s plans to develop transport infrastructure in the country, with an aim to reduce traffic congestion.

Richards adds: “The total construction project pipeline in Peru – as tracked by GlobalData, and including all mega projects with a value above US$25m – stands at US$126.1bn. The pipeline, which includes all projects from pre-planning to execution, is relatively skewed towards early-stage projects, with 64.7% of the pipeline value being in projects in the pre-planning and planning stages as of February 2019.”

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Global survey reveals AI key to talent strategies

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• 29% of HR managers say AI & RPA greatest opportunity for business
• 50% using talent analytics to plan and manage workforces
• 23% say building an employer brand which appeals to a diverse talent pool is top challenge

Almost one in three (29%) HR managers believe that the rise of Artificial Intelligence (AI) and Robotic Process Automation (RPA) will be the greatest opportunity for their business from a talent management perspective in the next six months. That is according to a poll of over 2,000 senior HR professionals carried out by Alexander Mann Solutions.

This latest data from the global talent acquisition and management specialist shows that 68% of businesses are currently witnessing skills shortages which have the potential to impact their profitability.

When quizzed on their biggest talent headaches, building an employer brand which appeals to a diverse talent pool was top of the list, with 23% of those surveyed citing this as a key challenge. Retaining high performers without large financial incentives was the greatest hurdle for 11% of respondents, representing a notable fall since 2017, when almost a quarter of HR managers (22%) indicated that this was their primary concern.

The survey also found that half of those questioned (50%) are now using talent analytics to plan and manage workforces, with 14% indicating that they were using this technology ‘extensively’. A further 27% said that while they were not already harnessing people data, they are planning to in the near future.

Andrew Wayland, Chief Technology Officer, Alexander Mann Solutions, comments;
“With recent research from PwC finding that global GDP will rise by 14% by 2030 as a direct result of AI, it is little surprise that the HR community are increasingly exploring the potential emerging technologies.

“Practitioners clearly see the positive impact that AI and automation can have on the workplaces of tomorrow, and are exploring ways to harness technology to make operations more efficient. However, while RPA and intelligent systems can boost accuracy and productivity within talent management functions – and throughout the wider business landscape – the HR leaders we work with understand and value the limitations of machines.”

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