Forbes

2022-06-14 21:05:01 Panera Launches A Digital-Only To-Go Model To Meet Changing Consumer Demands

It’s not news that consumer behaviors changed for good from the Covid-19 pandemic. In the restaurant space, that essentially means off-premise habits like delivery and takeout are here to stay.

This shift in behavior has driven several chains to rethink their real estate strategy, for instance experimenting with smaller formats, delivery-only kitchens and off-premise only locations. Panera has now joined the ranks, introducing a new format, called “Panera To Go,” which is 100% digitally enabled and services just delivery, pickup and catering orders.

The model is significantly smaller than a traditional Panera bakery-café – 2,500 square feet versus 4,500 square feet. Much of that square footage is taken up by the kitchen, with an additional space for pickup shelves. There is no seating or even cashiers. Panera’s first such location opened in Chicago in May, with two more planned this year in Southern California and Washington, DC. Open / Comment

2022-06-14 17:05:01 Vail Resorts Profit Gains Nearly 36% On Easing Covid; Shares Rise

Shares in Vail Resorts, one of the world’s largest ski resort businesses, opened higher in early trade at the New York Stock Exchange after it reported a jump in profit amid an easing impact of Covid-19 in the U.S. this year.

Net profit at Vail Resorts in the three months to April 30 rose by 35.6% to $372.6 million compared to $274.6 million a year earlier. Revenue increased by 32% to $1.17 billion from $889 million.

For the nine months to April 30, revenue increased to $2.25 billion from $1.7 billion.

Vail owns winter resorts in the U.S., Canada and Australia, runs or operates hotels, and develops real estate. In March, it announced plans to buy a 55% stake in Andermatt-Sedrun in Switzerland, marking its first strategic investment in a ski resort in Europe. Open / Comment

2022-06-14 14:05:01 H&M And IKEA Collaborate On First-Of-A-Kind Community Store

Ingka Group – the real estate arm of Swedish furniture giant IKEA – and Scandinavian fast fashion colossus H&M had come together to introduce Atelier100, their first maker-based concept store for local creatives.

This one is in London but it could be in Stockholm or Paris, Berlin or Barcelona, and despite the fact that it is the community-based lovechild of two enormous global retail corporations, the idea is that it is the antithesis of corporate but instead rooted firmly in its place.

And now LIvat includes Atelier100, showcasing London-based – or to be strictly accurate, those within 100km of London – designers and creatives representing a sustainable and ‘hyper-local’ approach to retail.

But it’s more than just a showcase, the Atelier100 funding and mentorship program means that includes financial help and assistance with everything from accounting and creating a business plan through to manufacturing and bringing the products to market. Open / Comment

2022-06-13 21:05:00 Saudi Arabia’s Entertainment Sector Set To Substantially Develop Through 2022

Through Vision 2030, Saudi Arabia has ambitions to become one of the best places to live and visit in the world. Significant investments in entertainment and culture are helping to make that aspiration a reality.

Saudi Arabian society is changing rapidly. Wherever you look, there is evidence of efforts to diversify the economy away from oil and improve the quality of life of the Kingdom’s citizens.

From the Saudi Arabian Grand Prix, boxing matches, and concerts, to world-class tourist destinations, visitors and residents have been witnessing the emergence of a new cultural center.

One of the driving forces behind the shift is the country’s General Entertainment Authority (GEA), which was established by the government in 2016 to help drive Vision 2030, an ambitious roadmap to reimagine Saudi Arabia’s society and economy. Open / Comment

2022-06-13 17:05:01 Biden Administration Plan To Juice EV Charging Network Aimed At Emulating Gas Station Experience

The Biden administration took a step towards not only making charging stations more plentiful, but more reliable and standardized accommodating any EV.

The plan is formally titled a “notice of proposed rulemaking” by the U.S. Department of Transportation's Federal Highway Administration.

The stated goal of the standards is to “provide consumers with reliable expectations for travel in an electric across and throughout the United States and support a national workforce skilled and trained in EVSE (electric vehicle supply equipment) installation and maintenance.”

CAR's Brett Smith views these proposed standards as a way to address the many shortfalls of the current charging network but asks, “How standard they become, how executionable those standards are. It starts to put an expectation in place for people when they stop.” Open / Comment

2022-06-13 13:00:14 Philippine Developer Megaworld Boosts Capital Spending To $945 Million

Megaworld, the real estate developer owned by billionaire Andrew Tan, has allocated 50 billion pesos ($945 million) for capital expenditures this year. The company said in a statement released on Monday that its budget was increased 32% from last year’s expenditures in anticipation of the economic recovery following the pandemic.

About 75% of the budget will be used for developing real estate projects including new residential properties and townships. The remaining 25% will be allocated for land acquisition and property investment.

Megaworld expects to launch four townships this year covering a total area of 500 hectares of land spread across Metro Manila, Calabarzon, and Mindanao. The new townships will be added to Megaworld’s existing 28 townships in 30 cities across the Philippines. Open / Comment

2022-06-13 11:58:01 #FromAdmin

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2022-06-12 21:05:00 U.S. Phasing Out Single-Use Plastics On Public Lands By 2032

The Department of the Interior announced Wednesday it will phase out the sale of single-use plastics on public lands, including in national parks, over the next decade, as federal agencies within the Biden administration work to tackle plastic waste on World Ocean Day.

Secretary of the Interior Deb Haaland issued a secretarial order that will ban the procurement, sale and distribution of single-use plastics by 2032.

The order also directs the department to find sustainable alternatives to plastic, such as compostable or biodegradable materials.

Nearly two dozen national parks banned the sale of plastic water bottles in 2011, but former President Donald Trump’s administration rescinded the ban in 2017. A study from the National Park Service found that prior to Trump’s reversal, the ban prevented nearly 2 million plastic bottles from being used and discarded in parks. Open / Comment

2022-06-12 17:05:01 Fire Knocks Out Billionaire-Owned Natural Gas Export Plant In Texas, Nation’s Second-Biggest

A fire at Freeport LNG, near Galveston, Texas, has knocked out America’s second-largest liquefied natural gas export facility for at least three weeks. According to a spokeswoman, no employees or contractors were injured in the incident, which sent black smoke into the sky before being brought under control. As news of the outtage spread Tuesday afternoon, natural gas prices plummeted by a dollar, to around $8.10 per thousand cubic feet.

The sprawling plant on Quintana Island, 90 minutes south of Houston, became operational in 2021 and had been exporting 2 billion cubic feet per day of natural gas, about a sixth of total LNG exports.

Freeport LNG is majority owned by billionaire Michael S. Smith, who spent two decades building the plant, which was on track this year to export some 15 million tons of LNG, the energy equivalent of about 130 million barrels of oil. Open / Comment

2022-06-12 14:05:01 Malaysia’s 50 Richest On Forbes List See Slight Fall In Collective Wealth

The combined wealth of tycoons on the 2022 Forbes list of Malaysia’s 50 richest fell 10% from a year ago to US$80.5 billion. Overall, 30 on the list saw their wealth decline.

Buoyed partly by a recovery in domestic demand, Malaysia’s economy grew 5% in the first quarter of 2022, overcoming pandemic pains as well as the impact of flash floods in December. While the stock market dipped slightly in the past 12 months, currency fluctuations saw the ringgit drop 6%.

Kuok group’s legendary founder Robert Kuok, held on to his long-standing No.1 spot though his fortune dropped to $11 billion from $12.2 billion last year. Quek Leng Chan, chairman of Hong Leong Company (Malaysia), was the biggest gainer in dollar terms and consolidated his position as Malaysia’s second richest person with $10.1 billion. He added $500 million to his net worth of $9.6 billion last year. Open / Comment