Category: Business News

  • Trump disbands business councils after bosses resign

    Donald TrumpImage copyright
    Getty Images

    President Trump has said he is scrapping two business councils after more bosses quit over his handling of violent clashes in Virginia.

    Mr Trump said: “Rather than putting pressure on the businesspeople of the Manufacturing Council & Strategy & Policy Forum, I am ending both.”

    It comes after the heads of post-it maker 3M and Campbell Soup announced their resignations on Wednesday.

    Eight business leaders have withdrawn after the far-right rally last weekend.

    Businesses have been under pressure to distance themselves from Mr Trump over his handling of the clashes.

    Despite belatedly condemning the white supremacist and neo-Nazi groups that rallied in Charlottesville, on Tuesday he appeared to defend the rally’s organisers.

    Mr Trump has previously dismissed the chief executive resignations, saying the business leaders were “not taking their jobs seriously as it pertains to this country”.

  • 'We can't get the skilled staff'

    Stuart Gardner, the boss of British motorbike maker Norton, says that a shortage of skilled employees is holding his firm back.

  • You Don’t Even Need to Hire a Designer With These 7 Free Tools

    Visual content is king. It is more successful than any other form of communication. If you embrace visual content marketing you will reap the rewards in terms of more readers, followers, leads, clients and, of course, revenue. Most of us know that humans are visual beings, with verbal and written communication not nearly as effective. In fact, 90 percent of information transmitted to the brain is visual. However, focusing heavily on a visual content strategy might come at a price — in this case, your marketing budget. You might not be able to hire that full-time, part-time or freelance designer to help you with graphic design.

    But not all is lost! You can become your own designer. You can do everything from social media posts and infographics to ebooks and flyers with the right tools. This blog post uncovers seven resources that make it as easy as possible for non-designers to create eye-catching visuals.

    Not convinced yet that visual content marketing is worth taking on? Here are some interesting stats to get you motivated about designing for your own small business:

    • When people hear information, they remember only 10 percent of that information three days later. However, if a relevant image is paired with that same information, people retain 65 percent of the information three days later.
    • Seventy-four percent of social media marketers use visual assets in their social media marketing, ahead of blogs (68 percent) and videos (60 percent).
    • Infographics are liked and shared on social media three times more than other any other type of content.

    1. Coolors

    Coolors is the easiest tool out there when it comes to color schemes. If you are starting a design or branding project from scratch, you will need to start with a color pallette. Without a designers eye, it might be hard to find and pick colors that work well together. With Coolors, you simply press the spacebar to generate endless options of colors that complement each other. If you see a color you like amongst the group, you can lock it and keep refreshing the others until you get the desired combo. All set? Just copy the hex color codes and paste them in your other design tools to maintain those exact colors.

    2. Type Genius

    Now that you have your color pallette, you will need a font set. And while Coolors is the easiest tool out there, Type Genius might be the most straightforward one. This tool allows you to find the perfect font set by putting together font combos for your design. All you do is pick a font and the tool will show you a beautiful pairing, along with an example of the combo in action.

    3. Pexels

    Colors, check. Fonts, check. The next step is to find images! While there are many stock photography websites out there, Pexels offers a great selection of high-quality free images. Just type in the subject you are looking for and it will generate search results with free content that you can download. Below these free options, you will always find paid images that will redirect you to other websites. Start with free stock photography and if you find it lacking, you can always upgrade to a website like Shutterstock or Adobe Stock.

    4. Picmonkey

    If you have original pictures — maybe you are an iPhone photographer or an experienced DSLR camera user — Picmonkey is a great tool to edit these images for free. Not only can you do basic edits — like brightness, contrast, sharpening etc. — you can also get creative with borders, filters and stickers. And unlike Photoshop, Picmonkey is actually very intuitive and easy to use. They also offer a paid version that gives you access to more editing features.

    5. Canva 

    Now that you have all your design elements in place, Canva is the tool for creating the perfect layout. Canva allows you to design social media graphics, marketing materials, ebooks, magazines, books, flyers and anything else you can think of. They provide beautiful templates that can be customized to your brand. Many of their templates are free, but you can also find ones that cost a few dollars. Here’s an example of a social media post I made for Bizness Apps in about 10 minutes.

    6. Snapseed

    If you are managing an Instagram account or Facebook page for your business, Snapseed is there to help you edit pictures on the go. The app takes a second to figure out, but once you’ve got the phone gestures down you’ve got all the editing tools at your disposal. While you might be using Instagram’s own photo editing, this app allows you to complete more advanced actions like changing the perspective, adjusting only certain sections of your pictures, and editing out distractions or blemishes. Another benefit is that you don’t have to transfer pictures from your phone to your computer and back, you can do everything from the comfort of your device and then upload it to the right social media account. Best of all, it’s completely free (and not just the lite version, but the complete software)!

    7. Visme

    Visme was created to allow anyone with or without design knowledge to translate their ideas into engaging visual, like infographics, presentations and reports. What sets this platform apart is that users can create interactive and animated infographics! If you are struggling to create any of this visual content from scratch, they also have many templates available to give you a jumpstart. Here’s an example of a corporate culture infographic.

    Now you’re ready to take on your visual marketing strategy with the easiest and most convenient tools at your disposal. Once you start, you’ll be hooked. I love to see something transform from an idea in my head to something beautiful on paper (or computer screen, that is). And these powerful resources actually make it possible for us non-designers!


    More from Bizness Apps

  • Do You Even Realize How Your Burnout Culture Is Hampering Your Growth?

    As entrepreneurs, many of us wear as a badge of honor our hard-charging work ethic and commitment, at all costs, to the success of the business. We’re prouder still of our team members who display such dedication and relentlessly go the extra mile (often without the carrot of significant equity). But, as with so much in life, you can definitely have too much of a good thing. Too many entrepreneurs don’t understand how burned out their employees are.

    According to a Workforce Institute study, 95 percent of HR professionals think that employee burnout is sabotaging a workforce’s productivity. In contrast, a recent study we conducted showed that a third of employees felt burnt-out, but over 49 percent of employees felt their managers had no idea about the extra time they put into their work. Most business leaders don’t realize they have a problem, let alone seek to understand why it’s happening.

    What’s more, the argument that burnt-out employees are less productive doesn’t seem to change hearts or minds of employers who see overworking employees as a necessary evil in order to compete.

    So, this might make them sit up and think: the poor management practices that foster a culture of employee burnout also have significant potential ramifications in restricting business growth. Here’s three key reasons why this is happening and what you can do about it:

    Related: 10 Signs You’re Burning Out (And How To Stop It)

    1. A sample of one.

    As leaders, we’re keen on making data-driven decisions. Our industry experience, heightened drive and ability to process and apply data allows us to get tasks done efficiently. Data and the associated automation increasingly help to inform and action almost every decision made – from pricing to payables to promotions — with one important exception: people.

    When it comes to managing employees time we typically base decisions on experience and gut instinct, not data. That’s because we, as experienced business people make assessments on how long certain deliverables should take based on a sample size of one: me, myself and I. Entrepreneurs often don’t record or analyze people’s time to anywhere near the degree they should, leading to unrealistic expectations.

    The impact here is that flawed assumptions on what the business can deliver and by when persist in all business planning. Finally, you reach a certain terminal velocity that you just can’t break out of. Growth stalls.

    To mitigate unrealistic expectations, business owners should collect and review actual data on how long each individual employee spends on any and all tasks. By gathering and reviewing data on how tasks are achieved, leaders have more knowledgeable insights into the ways their employees work and how resources are allocated.

    This data will allow for informed decisions about workloads, but also give leaders opportunities to share their expertise with employees. Using data helps to plan resources so that employees don’t feel as though they are set up to fail, overworking to get tasks done and perpetuating a cycle of unrealistic expectations which culminates in the business getting stuck in neutral, or worse.

    Related: How to Recognize and Beat Burnout

    2. Hidden burnout.

    Business leaders are also often timid about monitoring the overall picture of an individual employee’s workload for fear of “micro-managing”. However, you are likely doing a disservice to your team members when not getting a full picture of how much blood, sweat and tears they are giving to the cause! 

    Overworked employees have a direct, negative effect on a business’s ability to scale and grow and managers should be to blame for this. Lack of visibility into the day to day workload of your employees is a poor management practice that wears out employees and can ultimately cripple the business.

    It should also be done with a softer approach in tandem. Weekly in-person debriefs with employees are a great way to detect whether they are saddled with too much and how it’s affecting them individually. Too many business leaders have no idea how much they are pushing their employees, which will present a challenge in maintaining growth and preventing a mass talent exodus. While having employees that understand the value of hard work and dedication is key for driving a successful business, especially in professional industries, having employees that are continuously burnt-out ultimately affects their personal productivity and the productivity of the business itself.

    Related: 3 Effective Ways to Manage Employee Burnout

    3. Feedback from the bottom up.

    Whether it’s your senior leadership team or the summer intern, entrepreneurs shouldn’t be dismissive of feedback from any corner. Especially feedback related to certain projects, clients or tasks. As founders, we don’t always understand the day to day happenings of our employees and by taking feedback and learning, we can better align our expectations. Implementing feedback also provides a level of transparency that benefits employees in allowing them to see firsthand the value they are bringing to the business.

    Find a specific project every month, or quarter, to evaluate with your employees and proactively ask for feedback. This technique will show employees that as the leader you are open to this type of dialogue to improve processes. Using feedback to adjust the scope of future projects is not only beneficial to employees, but to the business’s bottom line.

    The truth is, while it can be gratifying that your team works hard, going the extra mile for you and your business, as a leader, poor management styles are the core cause of employee burnout which in turn is restricting your company growth.

  • Uber agrees to 20 years of privacy audits to settle FTC charges

    Uber app and a taxi sign on the groundImage copyright
    Reuters

    Image caption

    Uber has agreed to 20 years of privacy audits to settle FTC charges over how it handles customer and driver data

    Uber has been ordered to introduce tougher measures to protect the privacy of its drivers and their customers, to settle charges brought by a regulator.

    It also had to agree to have the effectiveness of the stricter controls assessed by an independent auditor every two years for the next 20 years.

    The charges relate to God View, a software program that enabled the ride-sharing company to monitor real-time locations of customers and drivers.

    Uber faces fines if it fails to comply.

    The US Federal Trade Commission began investigating Uber following allegations about the God View program in the media in 2014.

    After the investigation started, Uber developed an automated system for monitoring employee access to customer and driver personal data.

    However, the FTC said the company had stopped using it eight months after it had been put in place.

    Concerns were also raised over a 2015 breach that exposed personal data about more than 100,000 Uber drivers.

    “Uber failed consumers in two key ways: first by misrepresenting the extent to which it monitored its employees’ access to personal information about users and drivers, and second by misrepresenting that it took reasonable steps to secure that data,” said FTC acting chairman Maureen Ohlhausen, who presided over the settlement.

    “Our order requires a culture of privacy sensitivity for Uber.

    “It is going to make them take privacy into account every day.”

    Uber said it was pleased that the FTC investigation had ended.

    “We have significantly strengthened our privacy and data security practices since then and will continue to invest heavily in these programmes,” an Uber representative said.

    Comparitech security researcher Lee Munson said: “While such an agreement with the FTC may sound incredibly arduous, Uber will probably benefit from a necessary change in approach which will stand it in good stead for the incoming EU General Data Protection Regulation, which threatens stiff penalties for companies that are lax with employee and customer data.”

    Fines and lawsuits

    Apart from the FTC investigation, Uber was also sued by the New York attorney general over the God View allegations.

    And, in January 2016, Uber agreed to encrypt all rider geo-location data, as well as to pay a penalty of $20m (£16m) to settle concerns over how it had handled the data breach.

    One year later, the FTC ordered Uber to pay a further $20m over claims the company had misled drivers about the potential income they could earn.

    Separately, Uber’s former forensic investigator Ward Spangenberg has been suing the company over alleged age discrimination and whistleblower retaliation.

    In a court declaration from December 2016, Mr Spangenberg alleged that Uber had let its employees spy on celebrities and ex-partners.

  • Uber official apologises for ‘misunderstanding’ in Philippines

    A photo of the Uber appImage copyright
    Carl Court/Getty

    A top Uber official has apologised to the Philippines’ transport regulator and vowed to respect its authority following a temporary ban on its services in the country.

    The ride-hailing firm was ordered to stop services for a month in a dispute over accreditations for new drivers.

    Uber briefly ignored the suspension and moved to appeal the decision.

    The ride-hailing firm has faced other regulatory battles as it seeks to expand in Asia.

    The suspension by the Land Transportation Franchising and Regulatory Board (LTFRB) concerns a violation of a directive to stop accrediting new drivers.

    Uber said on Tuesday that it would appeal the order, and briefly resumed services in defiance of the ban.

    But the company reversed course later in the day and complied with the order.

    Uber official apologises

    After initially rejecting its authority, Uber has adopted a more conciliatory tone with the transport regulator.

    In a video posted on Philippines television network ABS-CBN’s website on Wednesday, Uber’s regional general manager for Asia Pacific, Michael Brown, said the company respected local authorities.

    “We’re going to do everything we possibly can to show that we respect the authority of the LTFRB,” he said.

    Reporters captured the comments as Mr Brown spoke to LTFRB chairman Martin Delgra.

    The pair spoke ahead of a meeting held by the country’s senate public services committee about Uber’s situation, according to local media.

    “Anything you need from us, we’re going to do it,” Mr Brown said.

    “If there’s been a misunderstanding in the past, that’s on us and I apologise for that misunderstanding. We have every intention to respect the LTFRB,” he said.

    Mr Delgra said the regulator would work with Uber.

    “This is not a fight, we’re trying to work together to address public transport issues,” Mr Delgra said.

    Safety concerns over recalled Uber cars

    Uber: The scandals that drove Kalanick out

    Uber fires employees over harassment

    Uber’s troubles in the Philippines are the latest in a series of hurdles to its attempts to expand globally.

    Speed bumps

    The company has faced regulatory scrutiny in other Asian countries, including South Korea, Japan and India. Earlier this year Uber suspended operations in Macau after a dispute with local regulators.

    Uber is also warding off legal challenges as it fights to repair a corporate image badly bruised by sexism and misconduct allegations.

    Chief executive Travis Kalanick resigned in June, bowing to pressure from shareholders. His departure came after a review of practices at the firm and scandals including complaints of sexual harassment.

  • Is the wages puzzle getting less puzzling?

    £20 in pocketImage copyright
    Getty Images

    For months now, economists have been struggling with what they call the “wages puzzle”.

    Conventional economic theory says if unemployment gets low enough, wages will take off – with inflation following close behind.

    The general idea is that when labour markets are tight, workers’ bargaining power is increased.

    Therefore employees can demand wages that beat their expectations for inflation.

    Until recently it was painfully obvious that that wasn’t happening. The rate of unemployment kept hitting 40-year lows but wages kept sagging.

    On Wednesday the wage optimists were given something to cling on to. Unemployment hit 4.4% in the second quarter of the year, the lowest – once again – since the mid-1970s.

    But, against expectations, pay rises improved, up by 2.1% (excluding bonuses) compared with a consensus prediction of 2%. Maybe the economic theory was right after all – and pay is now ticking up because labour markets are tight.

    It remains, however, a long way short of what would be required to trigger the sort of wage-price spiral about which central bankers have been hyper-vigilant since the 1970s.

    That employees are prepared to accept wages that shrink by a tiny bit less than they did the last time these figures came out does not exactly bespeak a dramatic new assertion of workers’ bargaining power.

    Bank of England hawks

    With inflation on the official CPI measure at 2.6%, wages are still shrinking in real terms – by 0.5%. And pay rises averaging 2.1% compares to 2.8% as recently as November last year. Not much ammunition there for the hawks on the Bank of England’s monetary policy committee who would like to raise interest rates sooner rather than later.

    But it does look like deeper changes in the labour market are afoot. With the weaker pound, it is in theory less worthwhile than it used to be for workers to come to the UK from elsewhere in the EU to earn pounds, sending them home to convert into Polish zlotys or Bulgarian levs.

    Is that theoretical prediction coming true? The number of non-UK nationals added to the UK workforce was just 109,000 on the year. In the first quarter it was a much sharper increase – of 207,000. Here too, the economic theory may, eventually, be proved right after all.

  • Walnut wipeout whips up chocolate storm

    Cartoon advertisement for Walnut WhipsImage copyright
    NESTLE

    Image caption

    Walnut Whips have been sold for more than a century

    First it was Toblerone that shrunk, followed by packets of Maltesers. But has the maker of the Walnut Whip gone too far in removing the famous nuts from the chocolate?

    Nestle is launching new versions of the Walnut Whip – its oldest chocolate brand – without a nut on their peak.

    The new Whips (sans the Walnut prefix) come in three flavours, although the traditional walnut variety will still be available in a single pack year round – and a multi-pack at Christmas too.

    “Walnut Whip remains on sale alongside our new vanilla, caramel and mint versions,” a Nestle spokeswoman confirmed to the BBC.

    “This means there is something for consumers wanting to try something new, as well as for long-standing fans of our century-old walnut product.”

    ‘Sold differently’

    The new products are being sold in packs of three with the walnut version remaining in its single packs.

    The spokeswoman said: “As the original version, with a long history, Walnut Whips are being sold slightly differently, in the same way as they traditionally have been for more than a century.

    “They will continue to be sold as a single treat as they have been ever since their launch in 1910. They will also be sold in larger six packs at Christmas, when consumers want to be able to purchase them in larger quantities.”

    She added the decision to launch the new flavours had been made because the company “wanted to extend the Whip range”.

    Image copyright
    NESTLE

    Image caption

    The new walnut-less Whips

    However, importer Helen Graham said that strong global demand for the walnut, together with the falling value of the pound and a poor crop in Chile last year led to a rise in prices of about a fifth.

    She told the Guardian: “There was a shortage of crop and then there is the additional factor of exchange rates and rising transport costs as well.”

    The news has provoked a mixed reaction on social media with some Twitter users unhappy that their favourite treat has been changed, but others very pleased because they said they always removed the nut anyway.

    The Walnut Whip was launched in 1910 by Duncan’s of Edinburgh.

    In the past, Nestle has claimed that one is eaten every two seconds in the UK.

    The chocolate was in the news in 2007 when Ken Livingstone, then Mayor of London, said people living in the capital would not pay more than 38p a week for the 2012 Olympics – the treat’s cost at the time.

    “To get the Games for the price of a Walnut Whip a week is a bargain,” he said.

    ‘Value for money’

    There was controversy last November when the spaces between the triangular chunks on a bar of Toblerone were made bigger.

    Its US maker, Mondelez, said it had made the decision to do that rather than raise the price “to keep the product affordable for our customers”.

    Later in the month, a food retail expert spotted that the weight of a packet of Maltesers had shrunk from 121g to 103g.

    Manufacturers Mars said it wanted to ensure its customers could obtain its chocolate brands “at the best value for money”.

  • UK unemployment stays at 42-year low

    Workers installing rail trackImage copyright
    AFP/Getty

    Image caption

    Jobs were created in the construction sector

    Unemployment in the UK fell by 57,000 in the three months to June, official figures show, bringing the jobless rate down to 4.4% – its lowest since 1975.

    Average weekly earnings increased by 2.1% compared with a year earlier – slightly higher than last month’s 2% increase.

    But with inflation continuing to run at 2.6%, real earnings still fell by 0.5%, the ONS figures showed.

    At 75.1%, the proportion in work is the highest it has been since 1971.

    “The employment picture remains strong, with a new record high employment rate and another fall in the unemployment rate. Despite the strong jobs picture, however, real earnings continue to decline,” said Office for National Statistics senior labour market statistician Matt Hughes.

    “The number of workers born elsewhere in the EU continues to increase, but the annual rate of change has slowed markedly,” he added.

    Jobs were created in the construction, accommodation and food services sectors and transport and storage industries.

    The number of those employed on zero hours contracts as their main job fell 20,000 compared to a year earlier to 883,000 people.

  • Admiral profits held back by rising personal injury costs

    Traffic on a motorwayImage copyright
    PA

    Shares in Admiral sank 7% after the insurer said the rising cost of personal injury claims hit profits.

    The firm’s pre-tax profits rose 2% to £193m in the six months to the end of June 2017, as the number of UK insurance customers rose 11%.

    However, changes to the way payments are made to accident victims – the Ogden rate – meant higher costs.

    The changing rate weighed on profits last year, and Admiral said the impact had continued into 2017.

    “Most of the adverse impact from the increase in the costs of large injury claims was in our 2016 second half result,” said its chief executive David Stevens in a statement.

    “However, some extra costs carry into 2017. In these circumstances, we are happy to report a marginal increase in profitability and to deliver a more material increase in the underlying dividend,” he said.

    The company estimated that the cost of the Ogden rate changes would be £150m, unchanged from six months earlier.

    The government has been consulting on how the Ogden rate should be set, although a final decision has been delayed.

    Admiral also reported a 15% rise in group turnover to £1.45bn, and net revenue of £550m, up 8%.

    Mr Stevens said: “The first half of 2017 saw Admiral ambitious in pursuit of both immediate and longer-term growth opportunities.”

    However, investors were disappointed at the figures. Admiral’s shares fell as much as 7% in early trading, making the stock the worst performer on the FTSE 100.