Strategic Global Intelligence Brief for July 23, 2018

Short Items of Interest—U.S. EconomyIndustrial Policy for the U.S.? Many nations in the world have been major advocates of what has been termed industrial policy, but the U.S. has long resisted that idea. There are many ways this kind of policy has been set, but the motivation is usually similar. The government is tempted to favor certain business ...
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UK Councils Not Following 30-Day Payment Rule

Local authorities in the United Kingdom, known as councils, are facing backlash from construction associations after freedom of information (FOI) requests revealed about 90% of councils were not enforcing construction firms to pay supply chains within 30 days as required by legislation.Under "Miscellaneous Provisions" in Chapter Nine of the Public ...
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Santander Bank Eases Customers Into Digitized Banking and Loan Payments

Santander Bank announced July 18 it will begin using nCino technology to speed up business lending operations. This new integration will be available to customers as the year progresses, adding more features gradually; using nCino is estimated to cut loan-decision time by 40%.The operating system nCino uses clouds to create omnichannel access for S...
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Safety Net Protects Canadian Automakers From Possible Retaliatory US Tariffs

Canadian suppliers worried about retaliatory tariffs from the U.S. can breathe a sigh of relief, at least those working in the automotive industry. Tariffs on U.S. steel imports have raised costs across the sector; however, according to Reuters, Canadian government customs provisions are in place that could "reduce or refund import duties" to compa...
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US Import Prices Down, Not Sustainable for Future

The price of U.S. imports saw the largest drop in two years as of June—but this drop is not likely to last after tariffs on foreign goods are imposed.Import prices jumped by 0.9% in May, while June saw a sharp decrease of 0.4%, a dip that comes close only to the drop in February 2016, according to the Labor Department. Imported food saw a significa...
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Construction Material Prices ‘Rising Rapidly’

Economic progress is dwindling in the eyes of Associated Builders and Contractors (ABC) economists who reported a nearly 10% gain in 2018 construction material prices in June over last year. ABC noted a 9.6% increase in prices compared to 2017, with a 9.8% gain in nonresidential construction, during its analysis of U.S. Bureau of Labor Statistics d...
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‘Imminent, Serious’ Inflation on the Horizon

Inflation is becoming increasingly problematic for U.S. producers. Unanticipated gains in June's Producer Price Index (PPI), released July 11, have economists predicting rising costs for manufacturing and construction material in connection to the U.S. administration's tariffs on various imports.According to Reuters, the PPI reached an annual incre...
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Survey Shows Tax Reform Likely Will Not Increase Spending

Even with a tax reform passed by the Trump administration, corporate spending will likely not see an increase, according to a report from the Association for Financial Professionals (AFP). Forty percent of the 640 corporate treasury and finance executives surveyed do not expect their spending to change in the near future.Even though 60% said they w...
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Saskatchewan to Introduce Prompt Payment Legislation

Another Canadian province is updating legislation to help the construction industry. Initial amendments to Ontario's Construction Lien Act went into effect July 1, increasing lien time tables to give contractors and subcontractors an extra 15 days to preserve a lien. New rules to prompt payments will go into effect in fall 2019. Saskatchewan is fol...
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UK Trade Credit Insurance Claims Up 50%

Trade credit insurance claims across the United Kingdom are at their highest level in nearly 10 years. There were just shy of 4,000 new claims during the first quarter of 2018, according to the Association of British Insurers (ABI)."Never has the importance of trade credit insurance been greater—the survival of any business could be at risk without...
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June CMI Dips Slightly, Still Near Cycle High

The Credit Managers' Index (CMI) from NACM retreated slightly in June, dropping from a 12-month high in May to 56.3 this month. Despite a modest decline in June, credit managers are reporting continued improvement in dollar collections after an unexpected fallout in April.The overall combined CMI remained above a score of 56 for two consecutive mon...
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Rising Interest Rates to Affect Corporate Credit

Corporate credit growth during the first quarter of 2018 remained strong despite an uptick in rates. However, it is uncertain if businesses can continue to keep pace with growing interest rates during this economic expansion."Businesses appear to be taking the recent series of rate hikes by the FOMC [Federal Open Market Committee] and subsequent ri...
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Strategic Global Intelligence Brief for June 22, 2018

Short Items of Interest—U.S. Economy Major Reorganization Proposed At this point, the plan, as developed by the Trump team, is more a series of talking points since it is the mid-term season and few in Congress have the desire to tackle something this complex and controversial. It bears closer examination as it would shift a great deal of current e...
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NACM's Graduate School of Credit and Financial Management Kicks Off

NACM's Graduate School of Credit and Financial Management (GSCFM) is underway, with first- and second-year students diving into intensive courses. Instructors Wanda Borges, Esq.; Susan Fee, M.Ed. L.P.C.; Charles Mulford, Ph.D., CPA; and William J. Russell, JD, kicked off the first three days of classes.During the demanding, 10-day-long program, stu...
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Strategic Global Intelligence Brief for June 13, 2018

Short Items of Interest—U.S. Economy Producer Prices on the Rise Yesterday, the news from the consumer side of things indicated that there was reason for concern about the rise of inflation. Now, there is support for that notion from the producer price index as well. The rise was by 0.5% over levels seen in May, above the estimate of a 0.3% hike. O...
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Strategic Global Intelligence Brief for June 4, 2018

Short Items of Interest—U.S. Economy Global Indices Fading At the start of the year, the most common question asked of any economist was "what will the year be like?" The general consensus was that everybody needed to enjoy the first six months of the year since the last six months may not be so great. This is starting to pan out—at least according...
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Dated Payroll Tech Hinders Key Performance Indicators

Tracking key performance indicators (KPI) can give credit managers an idea of how business is doing and provide guidelines for improvement. However, analyses are only as good as the tools used to complete them, and according to a new joint survey, using dated technology will hinder performance. Nearly 1,000 professionals across several industries p...
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US Small Businesses Expect Revenue Growth, More Hiring in 2018

Access to financing hasn't been a problem for small businesses in the U.S., according to a Federal Reserve annual survey, which found 72% of respondents expecting revenue growth this year. Results of the online questionnaire were released on May 22 with responses from nearly 8,200 companies during the latter half of 2017. On Tuesday, Reuters report...
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US Rate Hikes Could Impact Asia-Pacific Banks

U.S. economists tend to keep their ears to the ground when the Fed hints at foreseeable rate hikes, but the country's latest monetary tightening outlook is also catching the attention of Asia-Pacific banks that could face repercussions in foreign funding. On May 17, Fitch Ratings stated it anticipates the Fed fund rate to reach 3.25% by the end of ...
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Agile Businesses See Benefits From Tech Adoption

Keeping up with today's technological advancements isn't an easy feat, especially in the workplace where new tech requires a new routine. As small businesses learn to adapt, a new study found that outside pressure to become technologically savvy may do more harm than good. In a collaborative global study, growth partnership company Frost & Sull...
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