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Predictive Maintenance Services in the North American Medium-to-Heavy-Duty Vehicle Market, 2020 – PDM Providers are Moving Toward AI Techniques to Differentiate their Offerings

DUBLIN, Jan. 25, 2021 /PRNewswire/ — The «Predictive Maintenance Services in…

DUBLIN, Jan. 25, 2021 /PRNewswire/ — The «Predictive Maintenance Services in the North American Medium-to-Heavy-Duty Vehicle Market, 2020» report has been added to ResearchAndMarkets.com’s offering.

The Radar reveals the market positioning of companies using their Growth and Innovation scores as highlighted in the Radar methodology. The document presents competitive profiles on each of the companies based on their strengths, opportunities, and market positioning. We discuss strategic market imperatives and the competitive environment that vendors operate in as well as make recommendations for each provider to consider to spur growth.

In the North American medium-to-heavy-duty vehicle market, predictive maintenance (PdM) solution providers primarily rely on condition monitoring tools, such as telematics devices, and data generated from sensors to anticipate maintenance time frames and enhance asset performance and safety. Telematics service providers (TSPs) and original equipment manufacturers (OEMs) have total control of vehicle-generated data, which means PdM solution providers will have to seek partnerships and open access to data streaming if they are to offer improved solutions.

The cost of installing software that works on TSPs’ hardware averages $10 to $25 per truck. In contrast, PdM providers’ software solutions that work only on their proprietary hardware have a higher cost of installation because the price of the device is included. Use of proprietary hardware could restrict some fleet operators’ flexibility in adopting new solutions if they already have telematics devices installed.

Some PdM providers are moving toward artificial intelligence (AI) techniques to differentiate their offerings from competitors who rely mainly on historical data to generate maintenance predictions. Providers using AI deliver precise information on expected component failure. AI techniques not only predict failure but also provide advanced diagnostics and recommend maintenance scheduling.

The PdM services for medium-to-heavy-duty vehicle market is in a nascent stage. As such, it is crucial for PdM solution providers to educate fleet operators about the benefits of these solutions to ensure their wide market acceptance as trust in data, warranty issues, and hesitation to make PdM investments for vehicles under warranty are barriers to new business. Operators of large fleets composed of vehicles under manufacturer warranty may be reluctant to adopt PdM solutions because parts under warranty cannot be replaced prematurely based on their expected failure.

Analysis provided in this study is critical not only for solution providers but also for channel partners, such as telematics service providers, to understand the opportunities that align with their overall business strategy.

Key Topics Covered:

1. Strategic Imperative and Growth Environment

Strategic Imperative
Growth Environment

2. The Radar

The Radar: Predictive Maintenance in Medium-to-Heavy-Duty Vehicle Market
The Radar: Competitive Environment

3. Companies to Action

Dossier Systems, Inc.
Greenwave Reality, Inc. (Greenwave Systems)
Noregon Systems, Inc.
Optimum Fleet Health, Inc.
Pitstop
Preteckt, Inc.
Progress Software Corporation
Uptake Technologies, Inc.

4. Strategic Insights

5. Next Steps: Leveraging the The Radar to Empower Key Stakeholders

Significance of Being on the The Radar
The Radar Empowers the CEO’s Growth Team
The Radar Empowers Investors
The Radar Empowers Customers
The Radar Empowers the Board of Directors
The Radar Analytics
The Radar: Benchmarking Future Growth Potential

For more information about this report visit https://www.researchandmarkets.com/r/l42t5v

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

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SOURCE Research and Markets

As Auto Prices Increase, Auto Service Contracts, GAP Waivers and Vehicle Protection Products Become Even More Important

TALLAHASSEE, Fla., Jan. 25, 2021 /PRNewswire/ — New vehicle prices have steadily been on the rise with the fourth quarter of 2020 closing with the average cost of a new vehicle reaching a record high of more than $40,000. Additionally, the amount consumers borrowed to finance new cars neared a record high, according to Edmunds. With new vehicle costs surging and more money being borrowed by consumers, auto service contracts, GAP waivers and vehicle protection…

The Service Contract Industry Council (SCIC), Motor Vehicle Protection Products Association (MVPPA), and Guaranteed Asset Protection Alliance (GAPA) remind consumers that there are numerous ways to protect auto investments, including auto service contracts, GAP waivers, and coverage for vehicle tires, paint damage, key fobs, appearance care, and windshield repair.

«With new vehicle prices and the amount consumers are borrowing to finance the vehicles reaching record highs, consumers need the peace of mind a GAP waiver provides of knowing that if they suffer a total loss due to theft or accidental damage, it’s not going to devastate them financially,» said Tim Meenan, Executive Director of MVPPA, SCIC, and GAPA. «Also, as vehicle options and technology become more complex, repairs become more costly. That’s why auto service contracts and vehicle protection products can help save consumers so much down the road.»

GAP waivers are essential for consumers who finance their vehicles as standard auto insurance policies typically only cover the actual value of a vehicle when it is damaged or stolen, which is often not the full amount of the loan. Auto service contracts and extended service plans protect consumers from unexpected and costly repairs.

ABOUT SCIC: The Service Contract Industry Council is a national trade association that works with lawmakers across the country to develop fair and uniform regulation of the service contract industry.

ABOUT MVPPA: The Motor Vehicle Protection Products Association (MVPPA) works to authorize the sale of stand-alone vehicle protection products and pass legislation throughout the U.S.

ABOUT GAPA: Formed in 2006, the Guaranteed Asset Protection Alliance (GAPA) works to preserve the viability of the GAP industry and promote fair and equitable regulation of its members and their products while providing the highest level of service to the consumer.

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SOURCE Service Contract Industry Council

As Auto Prices Increase, Auto Service Contracts, GAP Waivers and Vehicle Protection Products Become Even More Important

ABOUT MVPPA: The Motor Vehicle Protection Products Association (MVPPA) works to authorize the sale of stand-alone vehicle protection products and pass legislation throughout the U.S.

SOURCE Service Contract Industry Council

Atlantic Honda Promotes January Sales Event Savings on New Honda Models

LONG ISLAND, N.Y., Jan. 25, 2021 /PRNewswire-PRWeb/ — The Atlantic Honda dealership is currently running what it calls the January Sales Event. The January Sales Event at Atlantic Honda offers Long Island area drivers new year savings when financing or leasing <a target="_blank"…

The 2020 Honda Accord Sport 1.5T model is available to lease at $199 per month with a $0 down payment or at $119 per month with a $2,995 down payment. Feature highlights include 19″ alloy wheels, Brake Assist, Honda Sensing® and a rearview camera system.

The 2020 Honda CR-V EX-L AWD model is available to lease at $289 per month with a $0 down payment or at $209 per month with a $2,995 down payment. Feature highlights include Android Auto™, Apple CarPlay®, heated seating, Honda Sensing®, leather seating surfaces and a power moonroof.

The 2021 Honda Passport EX-L AWD model is available to lease at $319 per month with a $0 down payment or $239 per month with a $2,995 down payment. Feature highlights include Android Auto™, Apple CarPlay®, Honda Sensing® and leather seating.

Additional savings on new Honda models can be found by viewing available special offers at the Atlantic Honda dealership website. Savings include special lease offers, special APR deals and the Honda Loyalty Appreciation Offer reimbursement among other options.

For additional information on Honda models, savings and automotive financing, customers can browse through the dealership website to view available inventory, vehicle specials and financing offers. For additional assistance, drivers can contact the Atlantic Honda team. The dealership staff can be reached at the number 631-665-0005. Additional means of communication include online messages, emails and visits to the store. The Atlantic Honda dealership is located at 1375 Sunshine Hwy., Bay Shore, New York 11706.

Media Contact

Sarah Strauch, Atlantic Honda, 631-328-2060, sstrauch@aagny.net

SOURCE Atlantic Honda

Georgia Power’s Vogtle Unit 4 begins Integrated Flush

ATLANTA, Jan. 25, 2021 /PRNewswire/ — Georgia Power’s Vogtle Unit 4 has begun integrated flush, the testing process that pushes water through the permanent plant system piping that feeds into the reactor vessel and reactor coolant loops. This is the latest in a number of significant milestones recently achieved at the Vogtle nuclear expansion project and marks another step towards operations and providing customers with a clean, carbon-free energy source.

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Last month the project received the historic first nuclear fuel shipment for Vogtle Unit 3, placed the two-million-pound roof of the Vogtle Unit 4 shield building and completed the pre-operational condenser vacuum test of the Vogtle Unit 3 turbine system in preparation for hot functional testing.

Integrated flush represents a critical step as the process is key to helping ensure the safe startup of Unit 4 and marks the start of extensive testing ahead for the unit’s systems. Over the next few months, site personnel at the Vogtle nuclear expansion project will work through this process to clean and test the system piping ahead of testing of Unit 4.

This process will start with the chemical and volume control system and spent fuel pool cooling system, and continue into the reactor coolant system, the passive core cooling system, and the normal residual heat removal system as they are turned over from construction to the system operations teams.

Additional milestones recently achieved include:

Unit 3 Nuclear Fuel Receipt – With the receipt of the first nuclear fuel assemblies in December, the site is preparing for the last major test remaining for Unit 3, hot functional testing, ahead of initial fuel load.
Unit 3 Condenser Vacuum Test – The test was conducted with the main turbine on turning gear and by operating supporting systems to establish the condenser vacuum, which is necessary to demonstrate the steam supply and water-cooling systems operate together and are ready to support hot functional testing and initial fuel load in the reactor.
Completion of Unit 3 Cold Hydro Testing – Confirmed the reactor’s coolant system functions as designed and verified the welds, joints, pipes and other components of the coolant system and associated high-pressure systems do not leak when under pressure.
Emergency Preparedness Drill – Vogtle 3 & 4 completed a required emergency preparedness exercise for a simulated emergency event for Vogtle Unit 3. Teams participated in the simulation and demonstrated their ability to effectively and efficiently respond and protect the health and safety of the public.

Carbon-free energy source
The new Vogtle units are an essential part of Georgia Power’s commitment to deliver safe, clean, reliable and affordable energy for customers and play a significant role in supporting Southern Company’s goal of net-zero carbon emissions by 2050.

Once operating, the two new units at Plant Vogtle will be able to power more than 500,000 homes and businesses. A diverse fuel mix, including nuclear, is also essential to maintaining a reliable and affordable energy infrastructure that attracts new investment, supports economic growth and creates jobs.

With more than 7,000 workers on site, and more than 800 permanent jobs available once the units begin operating, Vogtle 3 & 4 is currently the largest jobs-producing construction project in the state of Georgia.

Photos highlight progress
Follow the progress being made at the site of the nation’s first new nuclear units in more than 30 years through the Plant Vogtle 3 & 4 Online Photo Gallery and Georgia Power’s YouTube channel.

About Georgia Power
Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America’s premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company’s promise to 2.6 million customers in all but four of Georgia’s 159 counties. Committed to delivering clean, safe, reliable and affordable energy at rates below the national average, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, coal and natural gas, as well as renewables such as solar, hydroelectric and wind. Georgia Power focuses on delivering world-class service to its customers every day and the company is recognized by J.D. Power as an industry leader in customer satisfaction. For more information, visit www.GeorgiaPower.com and connect with the company on Facebook (Facebook.com/GeorgiaPower), Twitter (Twitter.com/GeorgiaPower) and Instagram (Instagram.com/ga_power).

Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning the expected schedule for completion of construction and start-up of Plant Vogtle units 3 and 4 and expected job creation as well as carbon emissions reduction goals. Georgia Power cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Georgia Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Georgia Power’s Annual Report on Form 10-K for the year ended December 31, 2019, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020, and September 30, 2020, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: the potential effects of the continued COVID-19 pandemic, including, but not limited to, extended disruptions to supply chains and further reduced labor availability and productivity, which could have a variety of adverse impacts, including a negative impact on the ability to develop, construct, and operate facilities, including, but not limited to, Plant Vogtle Units 3 and 4; the ability to control costs and avoid cost and schedule overruns during the development, construction, and operation of facilities or other projects, including Plant Vogtle Units 3 and 4, which includes components based on new technology that only within the last few years began initial operation in the global nuclear industry at this scale, and including changes in labor costs, availability and productivity, challenges with management of contractors or vendors, subcontractor performance, adverse weather conditions, shortages, delays, increased costs, or inconsistent quality of equipment, materials, and labor, contractor or supplier delay, delays due to judicial or regulatory action, nonperformance under construction, operating, or other agreements, operational readiness, including specialized operator training and required site safety programs, engineering or design problems, design and other licensing-based compliance matters, including, for nuclear units, the timely submittal by Southern Nuclear of the Inspections, Tests, Analyses, and Acceptance Criteria documentation for each unit and the related reviews and approvals by the NRC necessary to support NRC authorization to load fuel, challenges with start-up activities, including major equipment failure, or system integration, and/or operational performance; the ability to overcome or mitigate the current challenges at Plant Vogtle Units 3 and 4, including, but not limited to, those related to COVID-19, that could further impact the cost and schedule for the project; legal proceedings and regulatory approvals and actions related to construction projects, such as Plant Vogtle Units 3 and 4, including Public Service Commission approvals and NRC actions; under certain specified circumstances, a decision by holders of more than 10% of the ownership interests of Plant Vogtle Units 3 and 4 not to proceed with construction and the ability of other Vogtle owners to tender a portion of their ownership interests to Georgia Power following certain construction cost increases; the ability to construct facilities in accordance with the requirements of permits and licenses (including satisfaction of NRC requirements), to satisfy any environmental performance standards and the requirements of tax credits and other incentives, and to integrate facilities into the Southern Company system upon completion of construction; the inherent risks involved in operating and constructing nuclear generating facilities; the ability of counterparties of Georgia Power to make payments as and when due and to perform as required; the direct or indirect effect on Georgia Power’s business resulting from cyber intrusion or physical attack and the threat of physical attacks; catastrophic events such as fires, earthquakes, explosions, floods, tornadoes, hurricanes and other storms, droughts, pandemic health events or other similar occurrences; and the direct or indirect effects on Georgia Power’s business resulting from incidents affecting the U.S. electric grid or operation of generating or storage resources. Georgia Power expressly disclaims any obligation to update any forward–looking information.

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SOURCE Georgia Power

OPC Energy Announces Closure of Acquisition of Competitive Power Ventures; Enters the Field of Renewable Energy in the United States

TEL AVIV, Israel, Jan. 25, 2021 /PRNewswire/ — OPC Energy Ltd. (TASE: OPCE) («OPC») today announced that its acquisition of Competitive Power Ventures (CPV) received regulatory approval and has closed. OPC, partnered with three Israeli institutional investors, agreed in October to acquire 100 percent of CPV from Global Infrastructure Partners (GIP), and now fully owns CPV’s operating assets, development pipeline and asset management business. OPC plans to invest significant capital in CPV to expand…

«We are excited to announce the completion of the CPV acquisition. The transaction puts OPC directly into the areas of green energy, and especially into the areas of solar energy and wind energy, which are part of CPV’s significant growth engines» said Giora Almogy, CEO of OPC. «CPV has an outstanding footing in the industry and a driven, world class leadership team, which will continue to lead CPV — they are ideal partners. We look forward to the next phase of green and sustainable growth»

«This partnership with OPC will serve as a strong foundation from which CPV will pivot and grow in the new era of renewable and lower carbon emission energy generation in the U.S. as we strive toward a net-zero carbon economy in the coming decades,» said CPV CEO Gary Lambert. «We are proud of what we have accomplished over the last five years with GIP, and we are thrilled to begin developing the future of the business with OPC.»

Over the last 20 years, CPV has developed, sold, financed and acquired 14.8 GW of power generation with a focus on renewables and the world’s most efficient gas-fired power generation plants, which have helped avoid over 18 million tons of CO₂ emissions. These projects modernize and enhance the reliability of the power grid, reduce carbon emissions and represent a significant economic boost for neighboring communities. CPV’s robust natural gas and renewable development pipelines will help drive the United States’ transformation to a more environmentally responsible, economic, and reliable power system.

Morgan Stanley served as financial advisor to GIP, with Latham & Watkins LLP acting as lead transaction counsel. BLK and Macquarie Capital served as financial advisors to OPC, with Skadden Arps Slate Meagher & Flom LLP as lead transaction counsel.

About CPV

Competitive Power Ventures (CPV) is uniquely positioned to leverage global technology and financial partnerships to help modernize America’s power generation. Together with our investors, partners, host communities and other key stakeholders, we are driven to improve our energy infrastructure by developing and operating power generation facilities using cutting edge, domestically available natural gas and renewable power technologies. Headquartered in Silver Spring, MD, with an office in Braintree, MA, the company has ownership interest in 5.5 GW of clean generation across the United States. The company’s Asset Management division currently manages 7.9 GW of fossil and renewable generating facilities in nine states for 11 different owner groups. Our focus on Environmental, Social and Governance (ESG) and sustained track record of success have enabled us to grow into the number one thermal developer and one of North America’s premier energy companies. For more information: www.cpv.com and follow CPV on Twitter and LinkedIn.

About OPC Energy

OPC Energy is the first private electricity company in Israel. The Company was incorporated in 2010 and is active in the field of power generation and supply, including development, construction, and operation of power plants, as well as power generation and supply to private customers and to Israel Electricity Corporation (IEC). The Company generates about 5% of the electricity consumption in Israel. For more information: www.opc-energy.com/en.

OPC Energy Media Contact:
Amir Eisenberg
+972-3-7538828

CPV Media Contact:
Tom Rumsey
+1 240-281-3724

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SOURCE OPC Energy Ltd

Global Automotive Composites Market Report 2021: Market is Projected to Grow from $5.4 Billion in 2020 to $9.3 Billion by 2025

DUBLIN, Jan. 25, 2021 /PRNewswire/ — The «Global Automotive Composites Market by Fiber Type (Glass, Carbon, Natural),…

DUBLIN, Jan. 25, 2021 /PRNewswire/ — The «Global Automotive Composites Market by Fiber Type (Glass, Carbon, Natural), Resin Type (Thermoset, Thermoplastics), Manufacturing Process (Compression, Injection, RTM), Applications (Exterior, Interior), Vehicle Type and Region – Forecast to 2025» report has been added to ResearchAndMarkets.com’s offering.

The global automotive composites market is projected to grow from USD 5.4 billion in 2020 to USD 9.3 billion by 2025, at a compound annual growth rate (CAGR) of 11.5% between 2020 and 2025.

The demand for lightweight and fuel efficient vehicle as well as emerging trend of electric cars are the major factors driving the growth of automotive composites market while increasing awareness of OEMs towards strict government regulations on emission control is an opportunity for the growth of automotive composites market However, the negative impact of the COVID-19 pandemic on the automotive industry has affected the market growth adversely.

Glass fiber composites is the largest segment, based on fiber type in the automotive composites market in terms of value

Carbon fiber composites are projected to register the highest CAGR in terms of both value and volume between 2020 and 2025 while glass fiber accounts for the largest share of the overall market. Owing to its superior attributes such as strength, durability, flexibility, stability, lightweight, and resistance to heat, temperature, and moisture glass fiber is choice of material for automotive composite manufacturer. For instance, in automotive glass fiber is used if different applications such as underbody systems, front end modules, deck lids, bumper beams, engine cover instrument panels, and air ducts, among many other body parts in automotive.

Exterior is the largest application of automotive composites in terms of value and volume

The composites of a car body that are placed on the outer surface of the monocoque are termed as the exterior parts of the car body. The exterior parts include major components such as bumper beam, fender, front end module, door panels, and hood, among others. The use of composites in the automotive industry is an emerging trend as these composites help in achieving high-performance properties such as high stiffness, lightweight, and high strength to weight to ratio. The exterior parts manufactured with the use of composites impart rigidity thereby offers minimum risk against damage in the event of accident.

Composites also help reduce the weight of the exterior parts hence enabling weight reduction of the complete car body and make it more fuel efficient. The exterior parts are located on the outer surface of the car body and are more prone to wear and tear owing to exposure to harsh elements and extreme weathers. The use of composites in the exterior parts such as fenders, hoods, bumper beam, deck lid, and others added to durability of cars ensuring long lifecycle and lowering maintenance cost.

Non-electric is the largest vehicle type of automotive composites in terms of both value and volume

Number of OEMs including BMW (Germany), Audi (Germany), Renault (France), Porsche (Germany), Volkswagen (Germany), Fiat Chrysler (U.K.), among others uses composites in their high-end non-electric vehicles. For instance, Porsche manufactured a CFRP assembly carrier for Porsche GT3 Cup II model while BMW and Fiat Chrysler uses carbon fiber composites and glass reinforced polypropylene (PP) composites in the lightweight dashboard carrier and entire chassis of their Alfa Romeo 4C model sports car and in the respectively.

German car manufacturer has developed the Rodeo concept, an all-wheel-drive carbon fiber safari vehicle based on the classic Porsche 911 safari rally car. These initiatives taken by OEMs across the globe has been driving the use of automotive composites in non-electric vehicles.

Europe is the leading automotive composites market in terms of both value and volume

The growth of the automotive composites market in Europe is driven by the presence of established car manufacturers, industrial expansion, and industry 4.0 technology introduced in automotive industry of the region. Europe’s automotive industry is one of the major industries operating in the region and is comparatively higher than any other region. The European Union is amongst the world’s biggest producers of motor vehicles and the sector represents the largest private investor in research & development with approximately investing Euro 57.4 billion annually. The turnover generated of European Union’s auto industry represents 7% of overall GDP.

Market Dynamics

Drivers

Increase in Demand for Lightweight and Fuel-Efficient Vehicles
Increase in Demand for Environmentally Friendly Electric Vehicles
Increasing Use of Cost-Efficient and Eco-Friendly Natural Fibers in Automotive Applications

Restraints

High Processing and Manufacturing Cost of Composites
Lack of Technological Advancement in Emerging Economies
Declining Economy due to COVID-19

Opportunities

Increasingly Stringent Government Regulations
Increasing Demand from Emerging Economies
Penetration of Carbon Fiber Composites in Automotive Applications

Challenges

Recyclability of Composites
Developing Low-Cost Technologies
Recovery of Market from COVID-19

Case Study: Composites Roller Market

Company Profiles

Toray Industries Inc.
SGL Carbon SE
Teijin Limited
Mitsubishi Chemical Holding Corporation
Hexcel Corporation
Magna International
Plasan Carbon Composites
Solvay SA
Gurit
UFP Technologies Inc.
Huntsman International LLC.
Hexion
Nippon Electric Glass Co. Ltd.
Chongqing Polycomp International Corporation
Jushi Group Co. Ltd.

Other Key Players

Owens Corning
3B Fiberglass Company
Mubea Carbo Tech GmbH
TPI Composites
Formaplex
Creative Composites Ltd.
GMS Composite
Quantum Composites
Sabic (Saudi Arabia Basic Industries Corporation)
Exel Composites

For more information about this report visit https://www.researchandmarkets.com/r/ncsibr

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

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SOURCE Research and Markets

BBVA Research publishes its first quarter U.S. Economic Outlook

HOUSTON, Jan. 25, 2021 /PRNewswire/ — The BBVA Research team has published its Economic Outlook for first quarter 2021, noting that a post-holiday surge in COVID-19 cases and a vaccine rollout that is falling short of expectations have confirmed the need for further stimulus.

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The report, published by the BBVA Research team headed by BBVA Chief Economist Nathaniel Karp, continues to highlight the ongoing economic impact of the pandemic, as well as the recent election. According to its authors, the mining and leisure & hospitality industries continue to struggle harder to recover compared to other industries. While the transportation industry remains acutely impacted, higher oil prices are supporting the oil and gas industry.

Residential real estate has been supported by low interest rates and low supply according to the report, but commercial real estate trends continue to be exacerbated by the pandemic. Consumer consumption is also losing steam due to COVID-19.

The greatest source of potential economic shocks over the next 12-18 months remains political uncertainty and corporate defaults, generating both short- and long-term uncertainties. The political turmoil also adds to upward pressures on long-term rates, according to the report.

The report further notes that labor force participation and unemployment rates continue to be negatively impacted, with Black and Hispanic Americans disproportionately impacted. Women in the workforce also remain hard-hit by the impact of the pandemic, according to the economic outlook.

The BBVA Research publication further delves into the new fiscal stimulus package proposed by the Biden Administration, the economic impact of additional components of its agenda, and inflation.

BBVA USA’s research team analyzes the U.S. economy and Federal Reserve monetary policy. For its analyses, the economists create models and forecasts for growth, inflation, monetary policy and industries. The Economic Research team also follows a variety of issues that affect the Sunbelt states where BBVA USA operates. Follow their work on Twitter @BBVAResearch and @BBVANews_USA.

Read the full report here.

See the complete library of BBVA Research publications here.

For more BBVA news visit, www.bbva.com and the U.S. Newsroom.

Additional news updates can be found via Twitter and Instagram.

For more financial information about BBVA in the U.S., visit bbvausa.investorroom.com.

BBVA Group
BBVA (NYSE: BBVA) is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, it has leading franchises in South America and the Sunbelt Region of the United States. It is also the leading shareholder in Turkey’s Garanti BBVA. Its purpose is to bring the age of opportunities to everyone, based on our customers’ real needs: provide the best solutions, helping them make the best financial decisions, through an easy and convenient experience. The institution rests in solid values: Customer comes first, we think big and we are one team. Its responsible banking model aspires to achieve a more inclusive and sustainable society.

BBVA USA
In the U.S., BBVA is a Sunbelt-based financial institution that operates 641 branches, including 330 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 44 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 8th nationally in terms of dollar volume of SBA loans originated in fiscal year 2018.

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SOURCE BBVA USA

Hoffa: Union Praises Biden Order Restoring Federal Workers’ Union Rights

WASHINGTON, Jan. 25, 2021 /PRNewswire/ — The following is a statement from Teamsters General President Jim Hoffa on the issuance of an executive order by President Biden that rescinds Trump administration directives which curtailed the collective bargaining, due process and workplace representation rights for federal workers, while also putting forward a plan to raise the minimum wage for federal government workers and contractors to $15…

«The Teamsters are pleased to see President Biden taking quick action to roll back anti-worker initiatives put forward by the former president so that some 2 million federal workers can regain the legal rights granted to them by Congress.

«This executive order means these workers can have confidence as they go about their job that President Biden has their back and will work with labor unions to provide the nation with the efficient and properly functioning government its citizens deserve. Politics will not play a role in career civil service employment; rather, the quality of their work will.

«Additionally, the order calls for the drafting of recommendations to boost the minimum wage for federal workers and contractors to $15 an hour, a necessary step for thousands who earn less than that and struggle to support their families. Hardworking Americans who serve the nation as part of their job should not have to worry about making ends meet.»

Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women throughout the United States, Canada and Puerto Rico. Visit www.teamster.org for more information. Follow us on Twitter @Teamsters and «like» us on Facebook at www.facebook.com/teamsters.

Contact:
Ted Gotsch, (703) 899-0869
tgotsch@teamster.org

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SOURCE International Brotherhood of Teamsters

A new ranking by MIT Technology Review Insights highlights the countries making the fastest progress to a low-carbon future

CAMBRIDGE, Mass., Jan. 25, 2021 /PRNewswire/ — The Green Future Index, a new study by MIT Technology Review Insights in association with

CAMBRIDGE, Mass., Jan. 25, 2021 /PRNewswire/ — The Green Future Index, a new study by MIT Technology Review Insights in association with Citrix, Morgan Stanley, and Salesforce ranks 76 countries and territories on the progress and commitment they are making toward a green future by reducing carbon emissions, developing clean energy, and innovating in green sectors, as well as the degree to which governments are implementing effective climate policies.

The interactive index shows which countries are progressing fastest in global efforts to decarbonize and limit global heating in line with the goals of the Paris Agreement.

The key findings are as follows:

Europe will be a future green leader. Europe dominates the top of the index, with 15 European nations in the top 20. Many countries across the region have already made progress with curbing emissions, transitioning energy production to renewable sources, and investing in green mobility. Since covid, the EU has committed more than €200 billion in bold green economy investments, accelerating decarbonization even in the most fossil-fuel dependent states.

Iceland, Denmark, and Norway top the index. Iceland, in first place, aims to be carbon neutral by 2040. The country has become a world leader in clean energy and carbon capture technology. Denmark (2^nd) is the largest producer of hydrocarbons in Europe to stop issuing new oil and gas exploration licenses. Norway (3^rd) is also striving to decouple its economy from fossil fuels.

Costa Rica and New Zealand secure top 10 positions. Costa Rica, ranked 7^th, and New Zealand, ranked 8^th, have made major strides with renewables and have world-leading agendas for decarbonization across industry and agriculture. Canada (14^th), Singapore (16^th), and Uruguay (20^th), the other non-Europeans in the top 20, have strategies for decarbonization, transitioning energy sources, and government-led initiatives to promote green living, such as Singapore’s Zero Waste Masterplan, which aims to reduce landfill waste by 30% between now and 2030.

There is uneven progress across the world’s largest economies. The United States (40^th) has reduced emissions over recent years and is responsible for nearly one-fifth of the world’s green patents. Yet it is emerging from four years of climate denial and remains heavily dependent on fossil fuels and unsustainable farming practices. China (45^th) is responsible for more than one-quarter of global emissions but has pledged to become carbon neutral by 2060 and is the world’s fastest growing producer of renewable energy. France (5^th), Germany (11^th), and Canada (14^th) are the highest ranked countries in the G20.

The countries at the bottom of the index risk losing competitiveness in the green economy. The laggards include South Africa (47^th), Vietnam (49^th), and Indonesia (57^th), where economic pressures run counter to sustainable development. Japan (60^th) has a goal to be carbon neutral by 2050, although government targets for renewable energy remain modest. The 16 «abstainer» countries at the bottom include petrostates such as Saudi Arabia, Iran, Qatar, and Russia. The latter’s Energy Strategy 2035 for expanding oil and gas production identified the trend toward carbon neutrality as an existential threat.

«With hundreds of billions of dollars being injected into economies worldwide, covid-19 has created huge momentum for developing green industries and financing infrastructure that will be clean, technologically advanced, and climate resilient,» says Nico Crepaldi, head of custom content, MIT Technology Review. «In the future, we’re likely to see ‘green’ being synonymous with economic competitiveness.»

To view the research findings, visit the interactive page or click here to download the report.

For more information, please contact us at insights@technologyreview.com
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SOURCE MIT Technology Review Insights