Gold Markets: Ready To Hit All-Time Highs?

May 1, 2020

By Richard Cox

Gold prices continue to show incredibly impressive market trends, as the yellow metal has gained by more than 17% since March 19th, 2020, and investors are now wondering about how much higher market valuations can travel. When assessing potential price trends in gold and silver, I think it is generally important to monitor the market’s ETF activity because they give us real inflow data that can be used to identify emerging price trends. Inflow data coming from exchange-traded funds with exposure to precious metals suggest these recent bullish trends can continue, as the SPDR Gold Trust (NYSEARCA: GLD) has shown inflows of $5.9 billion in just the last month. During the same period, the iShares Silver Trust (NYSEARCA: SLV) also benefited from impressive inflows of more than $300 million.

Overall, these are truly astonishing inflow figures that go well beyond the historical averages of each of these funds and this activity suggests that the market’s highest-volume precious metals ETFs might be ready to lead the broader market higher. If these bullish price forecasts turn out to be true, the most likely suggestion would be that this the market’s emerging trend momentum could send gold and silver prices to levels that exceed the prior all-time highs from 2011.

Priced in terms of the U.S. dollar, market valuations in both gold and silver have recently shown the potential to break out once important resistance supply levels are removed from the market. Specifically, many investors have been watching the $1,660 price level as a central pivot point and as an indicator of potential bullish or bearish trend direction going forward. On a broader scale, macroeconomic developments continue to favor both gold and silver assets (relative to the U.S. dollar), as central banks around the world are likely to maintain accommodative monetary policies in the wake of the COVID-19 pandemic and in dealing with the economic ramifications of these unprecedented events.

From a fundamental perspective, negative revisions to annualized GDP forecasts are likely to continue to be noticeable for at least the next few quarters. Of course, all of this could put pressure on global currency values and regional equities markets. While it is true that stocks in some regions have performed better than others within this rise of global uncertainties. For example, the German DAX has managed to avoid some of the losses that ultimately became visible in the French CAC 40 stock index.

Furthermore, stock market losses in China were large but they were much more subdued when compared to the utter collapse that was visible in the S&P 500 from the end of February to the end of March. During this period, the SPDR S&P 500 Trust ETF (NYSEARCA: SPY) fell by more than 34% as sentiment began to turn and risk aversion became the market’s dominant theme. However, we have now entered into the new earnings season and several notable disappointments have already been reported by important blue-chip companies.

If earnings season continues to disappoint investors while failing to live up to the previous expectations of equities analysts, precious metals assets could resume prior rallies based on safe haven protection advantages. Of these two selections, silver markets appear to have the greatest potential for upside with key areas of resistance to be found at $15.85. On the downside, negative retracements from here could put recent demand levels back into focus, where support has moved up to the $14.60 region. Under both scenarios (bullish and bearish), we can see that the Ichimoku Cloud structure has flattened while Stochastic indicator readings are rolling higher. This price divergence should be notable for medium-term traders, as it suggests that sluggish price momentum in recent trading sessions might be ready to make a decisive price move.

On the silver weekly charts, it has become increasingly likely that most of the market’s prior short positions have already been closed, based on the massive inflow readings that are currently visible in the high-volume GLD and SLV ETFs. At current market valuations, the price of gold is trading just 6.5% below its all-time highs (which were established in August 2011). In these charts, we can see that the price of silver has not yet performed in ways that are quite as impressive. However, it stands to reason that a new record high in the price of gold may prove to be a catalyst that turns sentiment and makes it clear that safe haven assets still have the potential to outperform global equities markets during the remainder of 2020.

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About the Author

Richard Cox is an active investor with more than two decades of experience in the financial markets. He is a syndicated writer, with works appearing on CNBC, NASDAQ, Economy Watch, Motley Fool, and Wired Magazine. Market commentaries implement advanced technical analysis techniques to trade macroeconomic trends in foreign exchange, global index benchmarks, options, and the entire precious metals complex. Follow his investment commentaries at https://AskTraders.com.

Post COVID-19 Globalization: Will Translation and Localization Still Be Relevant?

May 1, 2020

Translation and localization serve as underrated bedrocks of 21st-century globalization. Businesses rely on translation and localization to make a name for themselves in foreign markets and among global audiences. But now that the COVID-19 pandemic is sweeping across the globe and forcing governments to close borders and prioritize domestic industries, this begs the question as to how the COVID-19 pandemic will impact globalization?

Many pundits argue that globalization will roll back as countries continue to close their borders to travel and trade. Indeed, these are necessary steps to curb the pandemic, but some pundits argue that some of these policies might stick longer than usual. And with a rollback in globalization, how will it impact the need for translation and localization? Will the post-COVID-19 economy result in less demand for translation services and localization services? Will we see less business conducted globally as more countries are now seeking to rely on their own domestic industries and gain more control over their supply chains?

The Status of the Global Economy Under COVID-19 (As of April 2020)

The COVID-19 pandemic has already brought forth wide-sweeping changes to global economies and our way of life in unprecedented ways within just one month. The IMF and World Economic Forum’s April report forecasted that the GDPs of all world economies are expecting to shrink by -3%. The prices of commodities such as oil continue to decrease to an all-time average low of $35 per barrel due to dried up demand from consumers and industries, particularly the travel industry.

The travel industry has been taking a cliff dive ever since the outbreak as domestic and international travel continues to stay restricted. From travel, airlines, to the hospitality industry and even local business communities that rely on foot traffic, many are expected to go bankrupt with critical relief from banks and their governments. However, there are industries that are faring better off than others, to say the least.

That’s not to say that they’re going through this crisis unscathed. Rather, the nature of industries’ operations is largely digital which makes them better prepared overall. The digital service sector has proven to be largely resilient; an area wherein translation and localization services belong. Even in times of crisis, the need to communicate across borders still exist. But a global crisis such as the COVID-19 pandemic requires an unprecedented level of global cooperation and coordination, in which case translation and language services serve as the foundation to it all.

The Importance of Translation and Localization in a Globalized Economy

Let’s take a brief step back in time to look at how important translation and localization was and still is to our globalized economy. As you know, the advent of digital communication technologies aided in ballooning the pace of globalization to where it is today. But language services such as translation as well as localization often take the back seat when people talk about globalization. Instead, we mostly hear of the importance of investments, loan interest rates, and so on.

As essential as they are, familiar global brand names would not have reached their eminence now without language translation services. You can think of it as another example of the Pareto Principle a.k.a the 80/20 rule This can apply to many situations of course, but the 80/20 principle can conveniently explain the importance of language services to our modern economy. The global economic engine cannot run without global communications being translated.

Of course, business growth is more than just breaching language barriers, but translation, in general, is a highly underrated pillar in global business. The translation is necessary to build trust across geographic, cultural, and linguistic borders. It’s a notion that was true in the past and still is today. However, even translation has its limits as language barriers are not the only obstacles in global business. Cultural barriers exist as well. In that case, localization is the right answer.

If you need a refresher, localization is the applied concept of curating content until it adheres to the preferences and nuances of a target market or audience. It’s mainly employed in global business strategies as it forces businesses to rethink their approach to specific markets. Instead of adopting a one-size-fits-all approach, localization calls for adjusting to the target market’s culture relative to the product and marketing message at hand. Localization is the reason why McDonald’s has different menus for each country as it acknowledges each of their market’s different culinary tastes.

What Will the Post-COVID-19 Economy Look Like

Although the IMF and World Economic Forum made grim predictions for the world’s economy in 2020 as mentioned earlier, they nonetheless forecasted that countries will rebound in 2021 with an average GDP growth rate of 5.8%. Again, it’s still subject to change as the COVID-19 pandemic and recession continue to unfold. But one thing is certain; that the world will recover but we shouldn’t expect it to be the same as the one we just left. Here are some generations predictions of what the post-COVID-19 economy will lookout;

More Businesses Will Move A Chunk Of Their Operations Online

Many had to hastily come up with telecommuting schemes overnight to comply with government directives and to protect their employees. Granted, telecommuting isn’t new since, in 2019, there already were 57 million Americans working in the ‘gig economy’ according to Upwork’s latest freelancing report. The only difference now is that everyone has no choice but to work online. But even with the pandemic over, many businesses will take this experience as a benchmark for them to decide which operations can be moved online. That way, they can save more office space and rental fees.

Of course, not many people are on-board with telecommuting. Maintaining company morale and strong work relationships between colleagues is difficult without routine face-to-face contact. Also, there are some operations that just can’t be moved online such as those that require access to critical company equipment and regular on-site supervision. But as social distancing measures are expected to still be in effect for the latter half of 2020, it’ll only be a matter of time before some policies such as telecommuting and remote video conferencing will stick indefinitely.

More Businesses Will Expand Globally

The pandemic has proven that small to medium businesses that relied on local customer bases and on-site transactions are highly vulnerable to both health crises and economic shocks. In that case, many business owners will have taken this as a hard lesson on why it’s imperative to diversify their customer base to markets outside their locality and country through eCommerce

It’ll take some additional investments indeed from businesses since they have to prepare their operations to be able to accommodate global audiences. They’d have to develop multilingual websites and prop up multilingual customer support centers to name a few. Indeed, eCommerce is now the new normal, but with COVID-19 hitting local business communities hard, going global will serve as a hedge against future crises and also as an avenue for growth in times of economic prosperity.

Manufacturers Will Seek to Diversify Their Supply Chains

The current global supply chain model, one which overwhelmingly holds China as the world’s manufacturing hub, proved to be highly vulnerable. Businesses will now seek to diversify their supply chains by scattering them throughout other countries than just China. But keep in mind that businesses have already been slowly moving out of China for some years now due to higher labor costs and much recently, due to losses linked with the US-China trade war.

In 2019, QIMA reported a decrease of 13% in demand for inspections and audits from US companies in China but also reported a spike in demand for such in other economic regions i.e. Southeast Asia, South Asia, and Latin America. This meant that many U.S businesses were already looking to diversify their sourcing way before the pandemic. Rather, the pandemic must have only accelerated the already ongoing capital outflow.

But even so, many still chose to stay since China has the human capital and resources for the mass manufacturing of complex goods such as consumer and industry electronics. More points could be added here but that’s a discussion for another time. Again, all of these are still predictions as with the growth forecasts. However, there are trends in the current economic situation that makes some of the predictions stated above unavoidable.

Adjusting to the Post-COVID-19 Economy With the Help of Translation and Localization

Given these predictions, it’s quite easy to see where translation and localization can fit into the picture of the post-COVID-19 economy. Global industries are keen to resume their operations, which means we won’t likely see any significant rollbacks in globalization. In turn, the need to localize, and more so the need for translation, will remain. In fact, you can definitely see a significantly increased demand for language services as industries are looking to rebound and dig themselves out of the economic cesspit.

Although the demand for translation services is quite clear, what about localization? Global communications can be fulfilled with translation alone, for the most part, so what needs can localization fulfill in the post-COVID-19 economy. It’s actually the same way it has always been even before the pandemic.

As you know, businesses employ localization to ensure that their products, services, content, and brand resonate well in foreign markets. But if we take into account that more businesses are looking to go global as well industries planning to diversify their supply chain models, then we will also see an uptick in demand for both translation and localization services.

More industries are expected to set up shop in South Asian, Southeast Asian, and Latin American countries due to lower labor costs and fresh market opportunities. In that case, translation and localization will serve their new global ambitions well as it always has been.

The Need for Quality Translations and Effective Localization Strategies Also Remains the Same

Although we have been talking about translation and localization in general, the truth is they’re not painted under the same brush. Poor translations and ineffective localizations exist and are a common problem. If you’re planning to go global for the first time and you want to make a lasting impression, then the importance of quality translations and proper localization can’t be stressed enough.

In regards to translation, a common mistake businesses make is that they rely on Google Translate for most, if not all of their translation work. Yes, it is free and very convenient to use, but it’s only capable of churning out general translations. Business material is laden with specific terminologies and marketing collateral heavily incorporates creative expressions.

Free online translators and machine translation (MT) systems, in general, are still not equipped with any algorithms to decode, let alone translate natural nuanced speech. In that case, you need a human translator to take care of your translation needs. If you think about it, it’s the same situation wherein you needed to seek advice from a business consultant to help you get started, or a professional web developer to set up your business website.

As for localization, cultural barriers are their own challenges as stated in the beginning. If you think of language barriers as fences, cultural barriers are more like minefields. In that case, you need someone to chart a path for you into these unknown areas. Localization services are fulfilled by localization experts and are highly knowledgeable in specific markets. They’ll help you configure your brand image along with your products and services so that you can have higher chances of success abroad.

All in all, you need people with the proper set of skills onboard to help you along if you’re looking for proper results abroad. A strong and meaningful introduction to foreign markets is what you need in the new post-COVID-19 economy as your competitors might also have the same idea of employing translation and localization to the fullest.

Final Word

Globalization simply takes a new form as it always has for millennia^.All in all, it’s unlikely that there will be any significant rollbacks to globalization and with it, no decreased demand for translation services and localization services. Many businesses and global industries will have a greater need for them as they now plan on how to re-establish their market positions in the post-COVID-19 economy.

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Why You Should Minimize Your Down Payment on a Lease

April 29, 2020

A hefty down payment can be a significant advantage when you’re buying a car. Among the many and varied reasons this is true are lower interest charges, staying out in front of depreciation and easier loan approval. However, none of these factors come into play when you’re leasing a car, which is just the beginning of why you should minimize your down payment on a lease in many cases.

Overall Lease Price Is the Same Regardless

While it’s true the down payment will make your monthly payments lower, the overall amount you’ll pay remains the same. CarsDirect.com illustrates this as follows:

“Let’s say your lease costs $5,000 for 24 months including taxes. If you make a $1,500 down payment, you’re going to pay $3,500 over that 24-month lease term, which makes your monthly payment $145.84. If you make a $500 down payment, you’re going to pay $4,500 over 24 months, or $187.50 per month. Either way, you’re still paying $5,000 total.”

This is because interest charges are computed into the lease payment up front. You’ll find them listed in the contract as the “money factor” amount you submit with each monthly payment.

You Won’t Get That Money Back

Let’s say you go into a lease with a $5,000 down payment. However, rather than a down payment, it’s called a capital cost reduction. This because its true purpose is to reduce the amount of money the leasing company has to put forth on your behalf to acquire the car from the dealer.

Now, let’s say the car is involved in an accident one year later and declared a total loss. Your insurance company steps in and pays the leasing company what the car is worth on the open market. Gap insurance will cover the difference between what’s owed and the car’s actual market value if there’s a disparity between that value and the payoff amount.

However, all of that money will go to the leasing company. Your $5,000 is gone forever. You’ll have no car and you’ll have to come up with drive-off costs once again to lease another one.

That Money Will Serve You Better Used Differently

Rather than putting so much money into your car lease to lower your payment only slightly, consider using it to pay off a high-interest credit card instead. Invest the cash in a money market fund or use it to beef up your emergency reserves in an interest-bearing checking account if you’re debt-free. You’ll be better served with either of those choices than tying the money up in a leased vehicle.

There Are Some Exceptions

The points above apply when your lease has a low money factor, as the best lease deals generally do. However, if you’re after a high-value model and the money factor is also high, a larger down payment can make the lease payment more affordable.

Again though, the leasing company will get all of the insurance payout if something goes sideways and the car is crashed or stolen, so that’s a decision you’ll need to make. Bottom line, though: While a larger down payment makes good sense when you’re buying a car to keep, it can be a mistake when you’re leasing a car for a few years.

It’s important to stop and review the situation carefully before you make that final decision. The cash you save will be your own, which is why you should minimize your down payment on a lease (in most cases).

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Manufacturing on Demand (MOD) vs. Traditional Manufacturing

April 29, 2020

One of the ever-present challenges in traditional manufacturing has been the ability to expediently and accurately forecast and respond to buyer demand. While the technology available today has greatly improved manufacturers’ abilities to anticipate demand and adjust their operations accordingly, there are still times in which companies find themselves with a scarcity or a surplus of products, due to changing market conditions. Beyond forecasting, there’s also increasing pressure for companies to keep reducing their production timetable.

Fortunately, a new approach has emerged to address the need for agility — manufacturing on demand (MOD). Let’s take a closer look at how MOD builds upon the traditional model of production and how enterprises are harnessing it to optimize their processes start to finish.

Challenges Associated with Traditional Manufacturing

It’s fair to say traditional manufacturers face some blind spots — like sudden spikes in demand for which they may not have been able to plan.

Case in point: Online and physical retailers alike are having a very difficult time keeping certain products in stock during the COVID-19 crisis, from disinfectant wipes to paper products and non-perishable foods. Even more concerning is the shortage of vital medical equipment, like ventilators and other critical respiratory devices.

What started out as commonplace items in households and healthcare facilities became coveted resources seemingly overnight. As a result, manufacturers are scrambling to switch tracks quickly in an attempt to meet this surging demand.

Here are just some of the primary challenges associated with traditional manufacturing these days:

Supply chains built to support the demands of large businesses rather than small businesses and niche consumer demands.

Facilities often located overseas, which can complicate communication and lengthen order fulfillment times.

Minimum order requirements (MOQ) and lead times can be prohibitively high and long, respectively.

It can take six to 12 months to design, create, test, approve and manufacture products.
It’s very easy to overproduce, which saddles companies with costly overstock in warehouses.

Essentially, it’s become apparent that traditional manufacturing models lack the speed and flexibility necessary to keep pace in our increasingly on-demand world. In an industry with already thin margins, over- and under-producing can be the kiss of death for profitability.

Manufacturing on Demand: The Future of the Industry?

As the name implies, MOD aims to produce products as they’re needed, therefore reducing these costly instances of surpluses and shortages. There are a handful of ways to go about it.

One strategy is called Demand-Driven Material Requirements Planning (DDMRP). According to Manufacturing Global, DDMRP builds on the strongest aspects of traditional theory — like the focus on eliminating bottlenecks, improving throughput, reducing stored inventory and minimizing waste — “and it improves them by giving production planners an accurate way of modelling, planning and managing supply chains to protect and promote the flow of relevant information and materials.”

DDMRP entails inserting buffers into manufacturing processes to insulate the supply chain from shocks, as well as more closely aligning demand with production through the usage of advanced manufacturing and sales analytics to understand patterns in buyer behavior and production patterns. The desired results, of course, are shorter lead times and less extraneous production.

Another approach to on-demand manufacturing may actually sound counterintuitive at first: Keeping more machines on hand than are needed at any given time. Having extra machines sitting idle but ready to jump into action at a moment’s notice helps companies keep zero queue time, or as close to it as possible. Some manufacturers are even able to work out ad-hoc arrangements with suppliers in which they only pay for the time these extra machines are in action rather than having to buy them up front and pay 24/7 operating costs.

Manufacturing on demand is the agile response to the limitations of traditional manufacturing, and we’ll likely see even more of a push toward forecasting and production on demand in the coming days.

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Going To Plead Guilty? How A Criminal Attorney Can Help

April 24, 2020

People who plan to plead guilty may believe that they don’t need a defense lawyer because they will be accepting the crime and its punishment anyways. However, this is the biggest mistake that you can make. Trying to save money by not hiring a lawyer or doing it for any reason whatsoever can land you in deep trouble. In fact, there are chances that a legal professional could actually turn things in your favor. For this reason, you must not give up but rather seek guidance from an expert who can actually save you from severe penalties. Let us explain how a criminal defense lawyer can help you if you are going to plead guilty.

Understanding your guilty plea

Before you go ahead with the plea, you must understand the implications of the situation. You may have probably found out about the possible punishments for the charge, but there could be much more if you scratch the surface. It could bring several unforeseen consequences for your life and future, even if the prosecutor tells you that accepting a charge would bring only a minimal fine and no jail time. The implications you may not have expected include:

Probation
Deportation
Loss of professional license
Loss of driver’s license
Fewer employment opportunities
Reduced earning potential
Prevent you from living in public housing
Prohibit you from owning a firearm

Saving you from an unnecessary guilty plea

Apart from explaining the true implications of a guilty plea, a legal professional can save you from an unnecessary one. You may feel that pleading guilty and cooperating fully is the right decision to get better treatment. But the truth is that even an honest approach can lead to avoidable lifelong consequences. Hiring an attorney to help with a criminal case can save you from any unnecessary pleas that may otherwise worsen your case. They also review the prosecutors’ case to see if there are any loopholes in the police or court system because unintentional mistakes do happen. This gives you a chance to resolve the case by filing a motion to dismiss.

Helping you reduce the sentence

If you have actually committed the crime and are certain that you want to plead guilty, hiring a criminal lawyer is still a good decision. They can help you by getting the sentence reduced to the minimum. With their legal know-how and negotiation skills, they can work on the sentencing recommendations with the prosecutors. They also know the facts, arguments, and pieces of evidence that are important to the court. Further, they understand the importance of presenting your circumstances in a way that can be beneficial to you in terms of minimizing your penalties.

Whether you have committed a crime intentionally or it is just an accidental mistake, you must act judiciously and find legal representation. Only a professional can help you decide the best course of action, whether you should plead guilty or fight it out in court. Remember that criminal charges can have a lasting impact and you should make all the efforts possible to prevent them.

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Car Accident Claim Denied? Know Your Legal Options

April 23, 2020

Getting a favorable verdict in a car accident compensation case can easily put your life back on track. But not every victim is lucky enough because there are chances that your case may be denied. Does that mean all hope is lost? Will you not get compensation despite being wronged? Luckily, you can still take legal recourse to pursue recovery for the damage and injuries, if the accident is caused by the other party’s negligence. However, you need to understand the options and take the right measures to handle a denied claim. Here’s what you need to do to get the claim you deserve.

Find out why the claim was denied

First things first, you should start by finding out why it was denied on your case. The reason actually decides whether you have a valid cause to raise a dispute. Here are a few common reasons:

The accident was preventable or caused by your negligence
You failed to report the mishap promptly to the authorities
If you did not get medical care immediately, the insurer could deny the claim saying that the injuries were pre-existing or aggravated due to delay
Your insurance policy does not offer coverage for your type of claim
Damages exceed the policy limits
Driver may not be listed in the policy, such as a teenager excluded from the policy of the parents
An error by the insurance provider, such as or a claim sent to the wrong insurer or an incorrectly-entered code

The reason for denial may be legitimate but you can dispute if it isn’t. So you must review the reason and compare it with the documents you included with the claim. You definitely have options for disputing if the denial does not reflect a valid reason.

Know your legal options

Once it is clear that insurance claim denied by your insurance company wrongfully, you can go ahead and explore the options to dispute their decision. Here are the ways to handle this situation:

Option 1: Write to the insurer about the mistake

If you are sure that there is some mistake, you need to write to the insurer and give them documentation to support your dispute. Explain specifically why the supportive evidence contradicts their decision by including relevant information such as injuries and damages suffered in the accident, pictures of the spot, medical records, police records, etc.

Option 2: Filing a bad faith insurance claim against the insurer

If the insurer is apparently acting in bad faith, violating your state’s insurance code or bullying you, the best option is to file a bad faith insurance claim against them. You will need to hire a seasoned car accident lawyer to handle the legal action on your behalf. It is obligatory for the insurance companies to act in good faith while dealing with car accident claims.

Option 3: Filing a lawsuit against the negligent driver

When you are injured in an accident, you are entitled to compensation if you are not at fault. Even if the insurer denies your claim, you can file a lawsuit against the guilty driver to get the compensation for your injuries. Most of the time, these cases get resolved through negotiation but it may still go into trial if things do not work out.

The best thing to do in case of denial of your compensation claim is to let an expert handle the case for you. With their expertise and experience, they can decide the validity of the reason for denial and take the appropriate action accordingly. Whatever they do, their prime concern would be to get you a fair settlement.

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American Companies Scramble to Adapt to Business Under COVID-19

April 23, 2020

Coronavirus Pandemic Causes Climate Of Anxiety And Changing Routines In America — Photo by Spencer Platt/Getty Images

Thousands of American business owners are scrambling to implement “adapt and survive” strategies as they navigate the unprecedented economic havoc wreaked by the coronavirus pandemic. If there is a positive in this dire situation, it’s that connected technology tools have never been more powerful and widely available. That’s made it possible for numerous business models to send workers home and keep them productive using video conferencing software, such as Zoom.

Other software is also coming to the rescue. One is JotForm, an online form builder that enables efficient collaboration functionality by linking up all coworkers and teams as they work during lockdowns. Another example is Trello. This software is a web-based tool that can be used for individual task management or project management for an entire team.

Meanwhile, many businesses are looking for cash flow advantages wherever they can find them. For example, some businesses are claiming section 301 tariff refunds. One of them is Minnesota-based Digi-Key. It is the fourth largest electronic component distributor in North America. It conducts significant commerce with customers in China. Digi-Key president Mark Larson said the ability to regain income lost from Trump’s trade war and tariffs imposed against China is a welcome financial shot in the arm in this difficult economic climate.

Shifting from in-store sales and retail traffic to delivery modes of operation has become a major adaptation approach for businesses, especially restaurants and grocery stores. Restaurants are using apps that allow customers to easily select from menus online and then just punch “send” or “order.” The restaurant then delivers directly to the customer’s home. Payment is handled automatically via the app. Grocery stores are also moving to apps. People can use them to shop for groceries. They then drive to the supermarket parking lot and stay in their car while a store worker pops the grocery bags into the trunk.

In the industrial sector, many companies are adopting a “cooperation and alliance” approach with entities that were once competitors. A report by McKinsey called this the “frenemies phenomenon.” Business owners are partnering with former competitors to share the cost burdens of ramping up technologies – such as increasing automation, supply chain distribution process sharing, remote customer communication capabilities and more. Business owners are finding that cooperating and cost-sharing in these difficult times can be more profitable than competing.

Media strategy and promotion is a major expense for businesses during good times and bad for business. It’s tempting, then, to slash budgets in this area since fewer people will be buying anyway.

However, cutting promotional budgets might save cash in the short run but could be devastating in the long run. That’s why many companies are shifting media outreach budgets to maintaining long-term brand identity and credibility rather than focus on immediate sales promotions or product-driven marketing messages. Sooner or later, this crisis will end. Those companies that maintain a strong public brand image will be in the best position to return to maximum profitability fast.

Many companies are seeking rebates and refunds for a variety of B2B products and services they will not be using. Getting a refund on travel is a major area for many operators.

Among the best resources for businesses is the federal government. Uncle Sam has unleashed an array of programs for grants, disaster loans, paycheck protection programs and debt relief/forgiveness programs. Just one example is the Small Business Administration’s Express Bridge Loan Pilot Program. It allows a business to get a $25,000 loan much faster and with less paperwork.

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First Consultation With A Car Accident Attorney – How To Prepare?

April 22, 2020

If you have been injured in a car crash, getting a rightful compensation would be on top of your mind. Meeting a car accident attorney is the first step in this direction. Before your first consultation with a professional, you need to be prepared so that you can make the best of the time you get with them. This is vital because asking the right questions will help you assess whether you can trust them to handle your case and get you the settlement you deserve. Here is what to expect and how to prepare for your first consultation with the lawyer you plan to collaborate with.

Have details on paper

First things first, the lawyer would want to know all about the mishap before taking your case. The best thing to do would be to have the entire details on paper so that you don’t miss anything. Start with the basics such as date, time and location and narrate other details such as the weather and road conditions on the day of the accident. Go on to tell them about how everything happened, even if it is just a fuzzy memory. Explain your injury and the events after the crash. Every piece of information is crucial and can make all the difference to your case.

Carry your paperwork

You may think that the first consultation is too early to show your paperwork to the attorney but it isn’t. If you want to pick the best car accident lawyer in Jackson you need to show them how serious you are about your claim. And carrying your paperwork along will be a good way to do that. A copy of the police report of the accident is the first thing they would want to see. Your medical bills, diagnostic reports, and drug prescription are also valuable pieces of evidence.

Pull together pictures

As an accident victim, it is natural to be shocked right after the mishap. But it makes sense to use your cell phone to take some pictures for evidence. You can even ask the people around to help. The pictures of the accident spot and details of eyewitnesses are some other things that an attorney would appreciate because they will make your case much stronger. If you have pictures of the injuries after the accident, they would be of great help.

Prepare your list of questions

Apart from sharing the details of the accident with the lawyer, you should also prepare a list of questions that you would want to ask them during the consultation. These could be about their qualification, experience, and track record and whether they have handled cases similar to yours. Further, you may also ask them about the chances of your claim being favorable and estimated timelines. Don’t forget to inquire about their fees and payment options as well.

Being well prepared for your first consultation with the attorney will make you more confident and comfortable. At the same time, you will be able to get your facts right and decide whether the professional would be good enough for you.

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Self-employed’s income down 30% since the start of April due to COVID-19

April 22, 2020

Fintech Portify warns Self-Employed Income Support Scheme may be too late as UK economy loses estimated £6.9bn per month in economic activity from the self-employed

Key points:

Income for self-employed gig workers declined by 30% in the first two weeks of April, compared to the pre-crisis average.
Each month income remains at these levels, we estimate £1.5bn in earnings and £6.9bn in economic contributions will be lost across 4.8mn self-employed.
Income from loans declined 44% for regular salaried workers and 56% for gig workers, as lending standards tighten.
Disposable income spending declines by 60% across all worker groups.
Portify is offering 0% interest advances on expected Self-Employed Income Support Scheme grants to select members, and is searching for partners to expand this offering further.

UK fintech Portify today released a report analysing the direct economic impact of COVID-19 on self-employed and gig economy workers. Despite the announcement of the £3bn support package for these workers, the results of the report warn that the support from the UK Treasury may be too late to help those already under financial strain.

The report shows a 30% decline in income for these workers in the first two weeks of April alone. Extrapolated to encompass all self-employed workers in the UK, this is an annualised income loss of £1.5bn in earnings with £6.9bn in economic contributions lost across 4.8M self-employed workers.

Portify’s co-founder Sho Sugihara said: “We welcome the support the Chancellor has offered to gig economy workers UK, but our data shows that these workers are struggling today. A bailout package that’s two months away might be too late to help those already feeling the strain put on them by COVID-19. That’s why we have not only released this report, along with our recommendations for the UK government, but are also in conversation with external partners to create a solution that would alleviate the strain on the self employed before the Treasury package will take effect in June”.

Disposable income expenditure fell by 60% as social distancing policies came into effect and consumers tightened their spending. In addition, expenditures on bills and utilities are showing early signs of decline.

Income from loans also fell by 56% for gig workers and 44% for regular salaried workers, potentially signaling the tightening of consumer credit markets even as the Bank of England cut rates to 0.1%, its lowest rate ever.

The report also outlines 3 key recommendations for the UK government; moving up the implementation date of the scheme, exploring options to guarantee loans for the self-employed as it has for SMEs, and for the UK government to understand the importance of supporting self-employment throughout the crisis, as the self-employed will likely be a major driver of economic activity and recovery that follows any COVID-19 induced recession.

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Portify is the first UK fintech company to address the financial volatility many flexible workers face, offering essential financial products to help users build credit, budget and save, via a single secure mobile app. Portify has raised £8.3M in venture investment in a funding round led by Redalpine, Kindred Capital and Entrepreneur First, with participation by leading investors in the fintech and technology sectors. Portify has over 20,000 members, partnering with leading gig economy platforms to help modern workers to take control of their finances.

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Day Trading 101 – Top 5 Day Trading Strategies

April 22, 2020

Day trading is dated back to the time when the internet started giving people access to the markets any time of the day. Since then, the ability to trade on a short-term basis was a privilege of those working for big trading firms or on trading floors. But now, all copy trading styles have become available to everyone. So, whichever your investment profile is, you natively fall into one trading style – position trading, swing trading, day trading & scalping.

For now, let’s focus on day trading. This style involves buying and selling a financial instrument within the same day or even multiple times during a day. Day trading can be potentially profitable, since you normally take advantage of small price movements. At the same time though, it can be quite dangerous, if you don’t follow a good strategy. Let’s now look into the 5 most used day trading strategies.

1. Breakout trading

Breakout strategies are based on the price of an asset rising above its former top resistance price. Traders following this strategy will go long after an asset breaks above resistance and will go short once it breaks below support. Once the asset’s price goes outside of the support and resistance levels, volatility is seen to increase.

2. Scalping

Undeniably, one of the most popular strategies. Particularly popular in the forex market and making its way through other asset classes, scalping is based on opening and closing trades within a few seconds, capitalising on small profits or closing with the minimum losses in case a trade isn’t going as planned. Scalpers need to be very confident, employed with razor-sharp discipline and stay focused on their trades.

3. Momentum trading

A rather popular day trading strategy for beginners, momentum trading is based on news sources and identifying trending moves with the support of high volumes. Momentum traders are seen to jump on an asset whose price is moving up and get out as soon as they see signs of reversal. This strategy is particularly popular when trading stocks and is normally triggered when a stock moves by 30-40%.

4. Reversal strategy

Reverse trading, or more commonly known as trend trading or pull back trading, is a very controversial strategy among the trading community, especially when it comes to beginners. This strategy goes against basic trading logic, since reverse traders aim to trade against the trend. With a good backup of experience and in-depth market knowledge, such traders identify potential pullbacks and predict their strength. The first step in reverse trading is to find an asset with an established trend and monitor its trend until you see a price decline. If the trend is upward, then the downward price movement is an entry point for traders to open a buy position.

5. News trading

It is a common fact that markets act fast to news events. By keeping an eye on business news and global financial events, traders can capitalise on these stories and shape their trading accordingly. Traders following this strategy will open a buy position when good news is announced and will sell when there’s bad news involving a market. The news fluctuations lead to higher volatility, which can lead to higher potential profits or losses.

As you have probably understood by now, day trading is not that easy to master. It takes time and requires a lot of time, skills and discipline on the traders’ behalf. With enough practice and by constantly evaluating your strategies, you have some good chances of beating the odds!

Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.12% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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