Economy and Business News

Market Trends and Business Perspectives

Features

The 5G economy will ‘spur massive GDP and job growth across the US’, says BCG

by

5G networks in Washington, DC could create about 4.5 million jobs in the US and add roughly $1.5 trillion to the country’s GDP, according to a new report from Boston Consulting Group (BCG), commissioned by CTIA, the wireless industry association.

BCG’s analysis shows that 5G will contribute to US GDP and employment growth by enabling of innovation that will transform all sectors of America’s economy across cities and communities of all sizes.

“Our analysis shows that the 5G economy’s impact will be broad and deep, unlocking significant benefits across the US and enabling new use cases across all industries, including health care, education, and agriculture,” said Enrique Duarte Melo, a BCG managing director and senior partner and lead author of this report. “The GDP growth and job creation that America’s 5G networks are beginning to unlock will be instrumental in jump-starting the country’s economic recovery.” [Read more…] about The 5G economy will ‘spur massive GDP and job growth across the US’, says BCG

Role of ‘chief sustainability officer’ will rise to prominence in coming years

by

Today the Institute of International Finance (IIF) and Deloitte UK published findings of a global survey of sustainability professionals and other senior executives about the role of Chief Sustainability Officers (CSOs) in addressing the environmental, social and governance (ESG) imperative.

“Financial service firms can play a critical role in helping transition the world to a low-carbon economy through sustainable finance as well as driving their own evolution. I am pleased that this IIF and Deloitte report provides insight into the role a Chief Sustainability Officer can play in helping drive efforts forward,” Axel Weber, IIF Chairman and Chairman of the Board of Directors of UBS Group, said.

“One thing is clear: These are whole firm efforts, they need a strong and strategic mandate, and each firm must find its own approach that works for its structure and culture.” [Read more…] about Role of ‘chief sustainability officer’ will rise to prominence in coming years

Report on electric vehicle market over next 5-10 years

by

In January 2021 MJB&A, an ERM Group company published the third update to their report Electric Vehicle Market Status.

The report highlights that globally auto makers have committed to spend $257 billion (up from $185 billion in the last report) on vehicle electrification over the next 10 years, including at least $2211 billion on domestic U.S. manufacturing, supporting the view that the auto industry has embraced the vision of electrified mobility and the EV market is on the cusp of a period of significant growth.

This update also notes that EV momentum continued to build in 2020, despite economic fall-out from the COVID19 pandemic. [Read more…] about Report on electric vehicle market over next 5-10 years

Related Posts

  • Data-Driven Operations Are Key to Manufacturing’s Future
    37
    Data-Driven Operations Are Key to Manufacturing’s FutureNew Report from World Economic Forum, in Collaboration with Boston Consulting Group, Reveals Many Manufacturers Struggle to Implement Data-Driven Operations and Defines a Path Forward to Overcome Challenges GENEVA—In the near future, manufacturing companies will work together in hyper-connected value networks in which data-and-analytics applications drive productivity, new customer experiences,…
    Tags: will, report, features
  • Brilliant under pressure: Global diamond market shows resilience in an unprecedented year
    37
    Brilliant under pressure: Global diamond market shows resilience in an unprecedented yearWhile the diamond industry suffered during the Covid-19 crisis, it still managed to keep its sparkle. Lockdowns, travel restrictions and economic uncertainty pushed diamond jewelry sales down by 15 percent in 2020 with most of the decline happening in the first and second quarters. But faced with store closures, diamond…
    Tags: sales, features

Brilliant under pressure: Global diamond market shows resilience in an unprecedented year

by

While the diamond industry suffered during the Covid-19 crisis, it still managed to keep its sparkle. Lockdowns, travel restrictions and economic uncertainty pushed diamond jewelry sales down by 15 percent in 2020 with most of the decline happening in the first and second quarters. But faced with store closures, diamond retail sales pivoted online, and benefited from consumers who could not spend on travel or experiences choosing diamond jewelry instead. Demand returned during the fourth quarter, culminating in a strong holiday season across the globe.

The industry proved its resilience in the face of an economic downturn as consumers continue to see its value. The boost was driven by holiday jewelry sales, particularly in the US and China, which saw a 5–10 percent and 15 percent –20 percent rise in the fourth quarter, respectively, year-on-year. Diamond jewelry is expected to perform better than the global personal luxury market in 2020, with only a 15 percent drop compared to a 22 percent decline in luxury.

Rough diamond production continued its downward trend, falling to 111 million carats. After peaking at 152 million carats in 2017, rough diamond production has declined by about 5 percent per year. In 2020, production decreased by 20 percent compared to 2019 levels. Notwithstanding changes, the mix of diamonds remained largely constant, with medium and large diamonds accounting for 25 percent of production volume in carats but around 70 to 80 percent in value in US dollars. [Read more…] about Brilliant under pressure: Global diamond market shows resilience in an unprecedented year

Related Posts

  • Data-Driven Operations Are Key to Manufacturing’s Future
    68
    Data-Driven Operations Are Key to Manufacturing’s FutureNew Report from World Economic Forum, in Collaboration with Boston Consulting Group, Reveals Many Manufacturers Struggle to Implement Data-Driven Operations and Defines a Path Forward to Overcome Challenges GENEVA—In the near future, manufacturing companies will work together in hyper-connected value networks in which data-and-analytics applications drive productivity, new customer experiences,…
    Tags: manufacturing, features
  • Report on electric vehicle market over next 5-10 years
    37
    Report on electric vehicle market over next 5-10 yearsIn January 2021 MJB&A, an ERM Group company published the third update to their report Electric Vehicle Market Status. The report highlights that globally auto makers have committed to spend $257 billion (up from $185 billion in the last report) on vehicle electrification over the next 10 years, including at…
    Tags: sales, features

Data-Driven Operations Are Key to Manufacturing’s Future

by

New Report from World Economic Forum, in Collaboration with Boston Consulting Group, Reveals Many Manufacturers Struggle to Implement Data-Driven Operations and Defines a Path Forward to Overcome Challenges

GENEVA—In the near future, manufacturing companies will work together in hyper-connected value networks in which data-and-analytics applications drive productivity, new customer experiences, and societal and environmental impact.

The World Economic Forum and Boston Consulting Group (BCG) are collaborating to understand challenges and support companies as they unlock the full value of data. Their findings appear in a new white paper, “Data Excellence: Transforming Manufacturing and Supply Systems,” released today. [Read more…] about Data-Driven Operations Are Key to Manufacturing’s Future

Related Posts

  • Brilliant under pressure: Global diamond market shows resilience in an unprecedented year
    68
    Brilliant under pressure: Global diamond market shows resilience in an unprecedented yearWhile the diamond industry suffered during the Covid-19 crisis, it still managed to keep its sparkle. Lockdowns, travel restrictions and economic uncertainty pushed diamond jewelry sales down by 15 percent in 2020 with most of the decline happening in the first and second quarters. But faced with store closures, diamond…
    Tags: manufacturing, features
  • Report on electric vehicle market over next 5-10 years
    37
    Report on electric vehicle market over next 5-10 yearsIn January 2021 MJB&A, an ERM Group company published the third update to their report Electric Vehicle Market Status. The report highlights that globally auto makers have committed to spend $257 billion (up from $185 billion in the last report) on vehicle electrification over the next 10 years, including at…
    Tags: report, will, features