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Here are the targets the FTSE 100 has been set to improve the ethnic diversity of UK boards

All-white FTSE 100 firms will be expected to have become a thing of the past come 2021, according to the final recommendations from a government-backed report into improving diversity of UK businesses.Over half of the FTSE 100 firms do not have any ethnic minorities on their board at all. Business minister Margot James said: “I urge our largest companies to lead from the front on this issue and take up Sir John Parker’s recommendations to promote greater boardroom diversity to reap the economic and social benefits.”Read more: PwC releases ethnic minority pay gap figures in a bid to broaden diversity by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeYour Health CareThis Is What Will Happen When You Eat Bananas Every DayYour Health CareCrossovers | Search AdsNew 2021 Crossovers Could Turn HeadsCrossovers | Search AdsNutrition Expert5 Herb That Could Block Joint Pain Surprisingly WellNutrition ExpertAnyMuscle9 early warning signs and symptoms of diabetesAnyMuscleApartments for Sale | Search AdsThe Cost of Apartments for Sale in Dubai Might Totally Surprise YouApartments for Sale | Search AdsweniixTop 5 best super sports cars 2021 – WENIIXweniixNatshowThe Greatest 11 Efficient Arm Workouts To Build Might & Muscle – NatShowNatshowanymuscle.com15 Cancer Symptoms Men Ignoreanymuscle.comNinjaJournalistThe Biggest Weather Reporters on TelevisionNinjaJournalist whatsapp Share Rebecca Smith The Parker Review Committee, headed up by Sir John Parker, today publishes its final report telling business leaders to improve the ethnic and cultural diversity of UK boards to better reflect their employees and the communities they serve.Read more: EU watchdogs: Financial services bosses need gender diversity and ‘courage’The three key recommendations set out by the report are: Increase the ethnic diversity of UK boards by proposing each FTSE 100 board to have at least one director from an ethnic minority background by 2021, and for each FTSE 250 board to do the same by 2024 Develop a pipeline for candidates and plan for succession through mentoring and sponsoring Enhance transparency and disclosure to record and track progress against the objectives As of the end of July, only 85 of the 1,050 director positions in the FTSE 100 are held by ethnic minority people, and only two per cent of director positions are held by ethnic minorities who are UK citizens, though this group makes up 14 per cent of the total UK population.The steering committee will track the progress made against the recommendations on an annual basis.Parker, who announced he was stepping down as Anglo American chair earlier this year, said the report had identified “clear commercial benefits” in addressing the issue, and progress needed to be made “if we want Britain to continue to be at the forefront of global business”.Parker added Transparency, for example, can be improved by companies setting out their policy on diversity in their annual report, the review said. Those that don’t meet the board composition targets by the set date “should disclose in their annual report why they have not been able to achieve compliance”.The initial consultation version of the report was released back in November, inviting feedback from board members and senior executives, as well as representatives from government. Today’s FTSE 100 and 250 Boards do not reflect the society we live in, nor do they reflect the international markets in which they operate. Whilst we are making good progress on gender diversity in the boardroom, we still have much to do when it comes to ethnic and cultural diversity. Thursday 12 October 2017 10:19 am whatsapp Here are the targets the FTSE 100 has been set to improve the ethnic diversity of UK boards read more

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These are the six new types of banking jobs that HSBC reckons will be in high demand in the future

Share “Many of the roles and job titles of tomorrow are unknown to us today,” said Josh Bottomley, global head of digital, retail banking and wealth management at HSBC. An individual delivering chatbots that both solve immediate challenges and “surprise and delight customers” will need a mixture of creative, linguistic and anthropological skills.4.) Universal service adviserGone are the days of branch-only services from banks. Today, customers may want serving via chat app, voice, or in a branch. With that, HSBC thinks, comes the need for highly skilled service agents who can help customers across a range of products. They may need to switch between virtual and physical environments at any time to help tackle customers’ troubles – and will need to make the switch seamlessly.The customer adviser of the future will need both product and domain knowledge along with excellent customer communication skills and empathy, according to HSBC.5.) Digital process engineerMany typical banking customer interactions, such as bringing someone on board or replacing a lost card, follow standard processes that balance security and regulatory requirements. The report says the rate of change of these processes is likely to pick up – along with their complexity – so a digital process engineer would analyse and assemble these workflows.As for skills, a digital process engineer will need “great discovery skills, to understand large and interconnected workflows and diagnose problems and bottlenecks”, along with creative skills to help test solutions and new concepts.6.) Partnership gateway enabler Thursday 5 July 2018 3:50 pm whatsapp One thing is certain, however – artificial intelligence will not replace human intelligence.Blending the best technology with the power of people will be the difference between good and great when it comes to customer experience. With a growing focus on augmented reality, HSBC reckons: “Overlaying our physical world with a layer of digital data allows use to create any imaginable character or object and locate them in physical space as if they were real, and this technology will likely be used to carry out some of our banking needs in the future.”Key skills expected of these recruits will include designing the aforementioned three-dimensional interfaces and making them slick and user-friendly, so that will need know-how in aesthetic design, branding and 3D mechanics.2.) Algorithm mechanicWe’re increasingly passing off decision-making onto algorithms, but HSBC says these operate in a fast-changing environment of shifting regulations and evolving products. Being able to constantly tune them to help improve banking customer experience will be a sought-after skill.Risk management, service design and financial literacy will also be expected in the role.3.) Conversational interface designerChatbots are already used in banking to field simple queries, and conversational interface design is a growing skill that HSBC says will help make best use of voice and text chatbots, and one set to become more important as the tech becomes more mainstream. Read more: A new era in bank regulation will allow the City to focus on the futureNow, the new titles don’t have the catchiest of names, so perhaps in the coming years they’ll get condensed into something snappier. But for now, here’s some insight into why algorithm mechanics are universal service advisers are expected to be high in demand in the not too distant future…1.) Mixed reality experience designer These are the six new types of banking jobs that HSBC reckons will be in high demand in the future Digital relationships with banking partners like fintechs and global tech companies will need careful monitoring and negotiation, according to the report. With so much data – both cash and customer data – flowing between organisations, HSBC notes someone will need to keep “a watchful eye” on conduct, and ensure regulatory compliance at all times.They will need to balance technical knowledge with an understanding of security and risk management, while communication skills for partner engagement would also be a big boost.Read more: NatWest has got a new recruit: Cora the ‘digital human’ whatsapp Rebecca Smith A new report has revealed six new banking jobs of the future expected as the industry focuses on digital evolution, with a view to how that will impact on people in the workforce.The study commissioned by HSBC analyses the challenges and opportunities on the horizon for the banking industry and has used that to predict six new types of jobs of the future. read more

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Insurer RSA share price rockets after £7.1bn takeover deal approach

first_img RSA said it received the proposal 2 October, which values the home, motor and commercial insurer at a premium of 50% to its closing price on the day before. Insurer RSA share price rockets after £7.1bn takeover deal approach Intact and Tryg would co-own RSA’s Denmark business. Split decision Insurance giant RSA confirmed it is in talks with a consortium of Canadian insurer Intact Financial and Danish insurer Tryg about a possible break-up deal that will value it at £7.1bn. Tags: RSA Insurance Group Show Comments ▼ RSA chief executive Stephen Hester, a former boss of NatWest who joined RSA in 2014, has been scaling back underperforming business. RSA Insurance is led by former NatWest boss Stephen Hester Also Read: Insurer RSA share price rockets after £7.1bn takeover deal approach Robey Warshaw, Goldman Sachs and Bank of America are working with RSA on the deal, the insurer said. RSA appointed Christian Baltzer, a former CFO of Tryg, as head of its Danish business last year. Intact and Tryg have until 3 December to make a firm offer. Share Jefferies analysts said the offer price represented “more than fair value.” Friday 6 November 2020 10:05 am RSA said its board would be minded to recommend the proposal for 685p in cash per RSA share, plus the payment by RSA of its previously announced interim dividend of 8p per share. RSA Insurance is led by former NatWest boss Stephen Hester The insurer has been open to offers since 2015 when a previous bid approach by Zurich Insurance fell through, industry sources say. Both Intact and Tryg have been mooted as potential bidders for several years. RSA Insurance is led by former NatWest boss Stephen Hester Also Read: Insurer RSA share price rockets after £7.1bn takeover deal approach The insurer said it was revising down its initial estimate of the gross impact of a September judgment in a UK test case brought by the British markets regulator around the payment of business interruption insurance by around 20 million pounds. Shares in RSA shot up 46% to close at 670p by the close of play today. RSA’s combined ratio, a measure of performance in which a level below 100% indicates a profit, stood at 90% in the third quarter, compared with 93.6% at the end of 2019. Rising commercial insurance rates, lower non-pandemic related claims and a tightening up of its underwriting strategy boosted RSA’s underwriting profit in the first nine months of 2020, despite the impact of Covid-19, it said earlier. Best known its More Than brand, RSA also has large operations in Canada, Ireland and Scandinavia. whatsapp Reuters whatsapp Under the terms of the deal, Intact will keep RSA’s Canada and UK & International operations, while Tryg will take control of RSA’s Sweden and Norway business. last_img read more

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Exclusive: Government U-turns on claim that ’70 per cent’ of England’s PPE is made in the UK

first_img“We have a four-month stockpile of all Covid-critical PPE in place,” she said. “Thanks must go to the tremendous contribution from UK manufacturers, which now meet 70 per cent of our PPE needs.” It set out plans for “UK-based supply… to meet 70 per cent of forecasted demand in England in December for all categories of PPE excluding gloves” — up from 1 per cent at the start of the pandemic. More than 200m PPE items were distributed to England’s health and social care services in the week to 22 November.  However, the NAO also found that international demand for PPE during the pandemic created a “sellers’ market” for global suppliers.  whatsapp Share The Department for Health and Social Care (DHSC) in September set out a strategy to boost UK-based supply of PPE and wean Britain off its reliance on Asian products. DHSC praised the “extraordinary leap” as representative of UK industry’s “can do attitude” to the coronavirus crisis. Tags: Boris Johnson Coronavirus However, a Freedom of Information request has revealed that “for figures on UK-based supply of PPE in England, DHSC does not currently produce any official statistics”. However, DHSC has repeatedly stated that none of England’s gloves supply is produced in the UK, since the raw materials needed for PPE gloves are not available in Britain. Show Comments ▼ whatsapp DHSC added that it did not hold equivalent data for the devolved nations, but was “working towards an official statistics publication in the future”. Almost £2bn of taxpayer money has been awarded to firms with Tory links during the pandemic, according to Labour estimates Also Read: Exclusive: Government U-turns on claim that ’70 per cent’ of England’s PPE is made in the UK Speaking in the Commons last week, health and social care minister Jo Churchill declared that the government had achieved its target. Gloves made up more than 128m of the total figure — around 62 per cent. In a scathing report published last week, the National Audit Office (NAO) estimated that just 12 per cent of all PPE ordered by the government’s supply chain between February and July came from UK manufacturers. center_img Almost £2bn of taxpayer money has been awarded to firms with Tory links during the pandemic, according to Labour estimates Meg Hillier, chair of the Public Accounts Committee, told City A.M.: “At the height of an international crisis, and four weeks away from fundamental changes at our national borders, we do not need another arbitrary, distracting, target-to-be-missed. Poppy Wood It cautioned that any future scale-up would likely result in “high prices of UK-manufactured PPE compared with global market prices”. Once gloves are taken into account, the government’s commitment for UK-based PPE makes up just over over a quarter of the total supply. Exclusive: Government U-turns on claim that ’70 per cent’ of England’s PPE is made in the UK Speaking in the Commons last week, Prime Minister Boris Johnson said he was “very proud” of the UK’s efforts to secure adequate PPE supplies during the pandemic, and reaffirmed the government’s commitments to boosting UK-based supply.  The government has made an apparent U-turn on claims that 70 per cent of England’s personal protective equipment (PPE) supply is made in the UK, following an admission that it does not hold any official figures on where PPE is manufactured, City A.M. can reveal. “We need working plans in place to obtain, store and distribute PPE to the front line workers, carers and patients that need it. The essential speed of this work does not give any kind of license to dump normal standards and safeguards.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeAll Things Auto | Search AdsMost Affordable Camper VansAll Things Auto | Search AdsUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndoBetterBe20 Stunning Female AthletesBetterBeUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsUndoPost FunGreat Songs That Artists Are Now Embarrassed OfPost FunUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndo Inflated costs meant the British government paid as much as 1,310 per cent of usual prices for some PPE supplies from overseas, at an extra cost to the UK taxpayer of £10bn. Friday 27 November 2020 2:53 pm Almost £2bn of taxpayer money has been awarded to firms with Tory links during the pandemic, according to Labour estimates Also Read: Exclusive: Government U-turns on claim that ’70 per cent’ of England’s PPE is made in the UK The department confirmed that “UK-based supply” meant PPE manufactured in the UK, rather than British-based procurement from overseas. No figureslast_img read more

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Kremlin critic Navalny returns to prison after hunger strike recovery

first_img Share Kremlin critic Navalny returns to prison after hunger strike hospital recovery Navalny stopped his three-week hunger strike in April after receiving medical attention, as doctors warned that he was in danger of a heart attack or kidney failure. Millie Turner Show Comments ▼ Late April also saw German chancellor Angela Merkel voice concerns over Navalny’s health, adding that a Russian troop build-up on the Ukrainian border was creating an “alarmingly tense” situation. The 45-year-old had been serving out a sentence for violating his parole as he recovered in Germany from an assignation attempt. whatsapp Kremlin critic Alexei Navalny, who was sentenced to 2.5 years in February, has been returned to prison after recovering from a hunger strike at a hospital in a different prison. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBleacherBreaker41 Old Toys That Are Worth More Than Your HouseBleacherBreakerAll Things Auto | Search AdsMost Affordable Camper VansAll Things Auto | Search AdsUnify Health LabsRandy Jackson: This 3 Minute Routine Transformed My HealthUnify Health LabsDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyPast Factory”Waltons” Actress Says Magazine Ended Her CareerPast FactoryDrivepedia30+ Funny Photos Of Car Owners Having A Rough DayDrivepediaLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solution Also Read: Missing doctor who treated Kremlin critic Navalny found after three-day search The Russian opposition leader’s hunger strike led to the US warning Moscow of serious repercussions if he dies in April. Tags: Alexei Navalny Vladimir Putin Navalny stopped his three-week hunger strike in April after receiving medical attention, as doctors warned that he was in danger of a heart attack or kidney failure. (REUTERS/Maxim Shemetov/File Photo/File Photo) Monday 7 June 2021 10:23 am The opposition politician had declared a hunger strike in late March in a bid for better medical care in prison after experiencing acute leg and back pain, Russia’s TASS news agency first reported. The parole violation was for a previous 3.5 year suspended sentence the Kremlin critic received in 2014, which turned into a prison term, and many believe was politically motivated. whatsapp “The German government, together with others, is pressing for him to receive adequate medical treatment,” she told the Parliamentary Assembly of the Council of Europe at the time. Also Read: Backlash over Russian oligarch’s £1bn UK broadband bet last_img read more

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Republican Scott Walker to drop out of 2016 presidential race

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailGameday NewsNASCAR Drivers Salaries Finally ReleasedGameday NewsSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunComedyAbandoned Submarines Floating Around the WorldComedyMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity Mirrorzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent Express Republican Scott Walker to drop out of 2016 presidential race Republican governor Scott Walker of Wisconsin is planning to drop out of the 2016 presidential race, according to media reports.Sources told the New York Times that difficulties raising money, bought about by his decline in the polls, mean Walker is no longer vying for the Republican presidential nomination. He was towards the top of the polls after officially announcing his campaign in early July. But he’s since lost ground, amid the rising popularity of business mogul Donald Trump, as well as a series of gaffes.Walker gave shifting answers to questions about illegal immigration, and once suggested a wall between the United States and close ally Canada might be in order, in an apparent effort to double down on rivals’ calls for a wall on the Mexican border.He is the second Republican candidate to drop out of the race, after former Texas governor Rick Perry stepped down earlier this month, having languished near the bottom of opinion polls. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapWatch President Biden Do Battle With a Cicada: ‘It Got Me’ (Video)The WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Jessica Morris whatsapp Share Show Comments ▼ whatsapp Monday 21 September 2015 11:06 pmlast_img read more

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Canadian vaccine distribution underway, but with many question marks

first_imgFor a country with a population of 38m, these are huge volumes, which suggests that a large portion will never move. Still, the logistics involved augurs well for FedEx, which was awarded the Canadian distribution contract in partnership with Innomar, a subsidiary of US drug distributor AmerisourceBergen.The C$90.4m (US$70.83m) contract calls for an “end-to-end Covid-19 vaccine logistics solution”, declared federal Procurement Minister Anita Anand when she announced it on 4 December. And the announcement raised some eyebrows. One parcel logistics consultant noted that rival UPS had a larger presence in Canada.The government had cleared five parties to bid for the vaccine logistics contract – UPS Healthcare, Kuehne + Nagel, McKesson Canada, FedEx Canada and Innomar. The FedEx-Innomar alliance finally triumphed over a joint bid from UPS and K+N.No explanation on the choice was offered, but the minister pledged greater transparency around vaccine logistics once the delivery dates for shipments in the first quarter of the coming year were set.FedEx and Innomar declared themselves capable and ready for the job, pointing to an air network serving 25 airports in Canada and more than 3,000 vehicles in its ground fleet.The issue has revived questions about government criteria for carrier selection. In the spring, some players criticised Ottawa for its decision to award a significant contract for PPE transport to Amazon rather than to Canadian carriers. Purolator Courier, the country’s leading courier company, was not in the running and nor were Air Canada and Cargojet, the largest freighter operator.“For the vaccine distribution, our role is to work with our forwarding customers and other logistics partners to understand their needs and assess where we can be a good fit to provide air transport portion of that supply chain,” said a spokesperson for Air Canada Cargo.Cargojet, which provides linehaul for all the major parcel firms – including FedEx and UPS – expects to carry some vaccine traffic, but Jamie Porteous, executive vice-president and chief commercial officer, is not anticipating a deluge of vaccine shipments, despite predictions from pundits and of a surge in demand for freighter capacity.A large number of doses can be shipped in a single box that does not take up much space, he pointed out, adding that there are still many question marks as to where vaccines will be produced and how big production capacity is going to be in the foreseeable future.FedEx has not involved the carrier in extensive planning for the vaccine move. There have been some preliminary discussions between the pair, but not in much detail, which indicates that FedEx does not feel any urgency to make sure the freighter airline is ready. Cargojet has experience in moving temperature-sensitive pharmaceuticals and has protocols in place for offloading cargo straight to a waiting truck without touching the warehouse, Mr Porteous confirmed.Perhaps that’s all it takes, but at the moment there are still more questions than answers when it comes to vaccine distribution. By Ian Putzger in Toronto 15/12/2020 © Alexey Novikov center_img Distribution of Covid-19 vaccines kicked off in Canada yesterday, with the first doses of the Pfizer-BioNTech vaccine arriving courtesy of FedEx and UPS.The integrators flew the vaccines from Europe via their US hubs, but they won’t play a major role in Canadian distribution, as, owing to the extreme temperature control requirements of the vaccine, Pfizer itself is managing it.This still leaves a lot of vaccines for commercial carriers to move, starting with Moderna’s, which is expected to be cleared for Canada within the next few days.The Canadian government has ordered 194 million doses of vaccine from seven different producers and signed options for 220m more. Of the firm orders, only 20m are from Pfizer.last_img read more

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CETFA launches ETF courses

first_img “We want this product to be a part of a consumer’s balanced portfolio strategy, and to this end, we want every professional that deals with ETFs to have the necessary understanding to ensure that advisors and clients alike appreciate the benefits of the product,” Dunwoody says. CETFA’s offering includes two online courses: “Introduction to Exchange Traded Funds” and “Advanced ETFs” and two classroom courses: “Overview of Exchange Traded Funds” and “Science of ETFs”. The first online course is a general introductory course for industry professionals, while the “Advanced ETFs” is for the more advanced professional that is looking to understand the variables in the different ETF products and portfolio strategies. The classroom courses add real world examples and case studies in the “Overview” course, while the “Science of ETFs” delves into the ETF portfolio and compliance strategies for the more sophisticated investor and manager. All courses through CETFA are accredited per Investment Industry Regulatory Organization of Canada (IIROC) and Financial Planning Standard Council (FPSC) requirements. CETFA selected the Smarten Up Institute to design, write and help manage the courses. Smarten Up, with offices in Toronto and Vancouver, is recognized by IIROC as an industry approved educator with certificate designations. To access the courses visit http://cetfa.sui-courses.com/course-registration. Share this article and your comments with peers on social media IE Staff The Canadian ETF Association (CETFA) has announced the launch of four courses for industry professionals. “The investing public needs better and detailed information regarding ETF products, and as the product becomes more accessible to the retail market, there is a need to ensure proficiency and product knowledge levels are increased and maintained,” says Pat Dunwoody, executive director of CETFA. Keywords Continuing educationCompanies Canadian Exchange Traded Fund Association Leveraged ETF course launches Related news CETFA, Smarten Up to offer ETF courses Facebook LinkedIn Twitterlast_img read more

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BIS, IMF to launch course on banking supervision

first_img Keywords Banking industryCompanies International Monetary Fund, Bank for International Settlements Related news How should banks allocate capital for crypto? The Bank for International Settlements (BIS) and the International Monetary Fund (IMF) plan to work together to strengthen the capabilities of financial regulators, the two organizations announced on Friday.In particular, the two institutions announced a new joint initiative to create an online course on banking supervision that will be made available to financial regulators worldwide later this year. Better co-ordination between the organizations “would help them track the changing needs of financial sector supervisors as policies moved from the drafting stage to implementation and then evaluation, as well as assist them in making the most of limited resources,” says Agustín Carstens, general manager, BIS, in a statement.The collaboration reflects efforts by BIS and IMF to promote financial stability and support sustainable, inclusive economic growth, Christine Lagarde, IMF managing director, adds. Translating climate risks into financial risks takes workcenter_img OSFI seeks to step up sector’s cyber resilience James Langton Share this article and your comments with peers on social media Facebook LinkedIn Twitterlast_img read more

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Over $2 Million Invested in Microbrasserie Le BockAle

first_imgOver $2 Million Invested in Microbrasserie Le BockAle From: Canada Economic Development for Quebec RegionsDrummondville Business Receives Investments from Fonds régionaux de solidarité FTQ Centre-du-Québec, Canada Economic Development for Quebec Regions, Ministère de l’Économie et de l’Innovation, Investissement Québec and Desjardins Entreprises Centre-du-QuébecDrummondville, Quebec, December 15, 2020 – Drummondville-based Microbrasserie Le BockAle is proud to announce the closure of a $2.1 million funding round. Thanks to support from the Fonds régionaux de solidarité FTQ Centre-du-Québec (FRS), Canada Economic Development for Quebec Regions, the Ministère de l’Économie et de l’Innovation, Investissement Québec and Desjardins Entreprises Centre-du-Québec, the business will be in a position of strength to pursue the sustained growth it has experienced in recent years.This major investment will enable the purchase of a new dealcoholization unit that will enable Microbrasserie Le BockAle to launch new non-alcoholic products. As it has more than doubled its sales over the last three years, the business is now aiming to increase its sales outside Quebec, mainly in the rest of Canada and in the U.S. To do so, the Quebec microbrewery recently developed an online sales platform, in addition to deploying a vast marketing campaign.In coming years, Microbrasserie Le BockAle also plans to proceed with building a new factory with a pub attached that will become a tourist attraction. In addition to drawing new clientele, this project will increase Drummondville’s production capacity and repatriate a portion of the production currently done in Ontario.Leader in Quebec’s non-alcoholic microbrewery beer marketFounded in Drummondville in 2015, Microbrasserie Le BockAle stands out among its competitors by becoming the first in Quebec to launch production of non-alcoholic beers. Always at the cutting edge of the best processes in this field, the business is still today one of the only breweries to have developed, to produce and to offer a vast selection of non-alcoholic microbrewery beers in Quebec businesses.To benefit from consumers’ taste for healthy products, Microbrasserie Le BockAle is actively seeking to maximize its reputation. To accomplish this, the SME concluded a partnership in 2018 with Maison Jean Lapointe for exclusive visibility for its non-alcoholic products during the 28 Days Sober Challenge up to 2021. Then in 2020, humorist Maxim Martin became the brand’s ambassador.Since April 2020, Le BockAle products are being distributed exclusively by Brasseurs du Nord (Boréale), another partner business to the Fonds régionaux de solidarité FTQ. This agreement will enable the Quebec microbrewery to receive better visibility in grocery and other stores thanks to a better positioning of Boréale products.“On behalf of the entire Microbrasserie Le BockAle team, I would like to sincerely thank the Fonds régionaux de solidarité FTQ Centre-du-Québec, Canada Economic Development for Quebec Regions, the Ministère de l’Économie et de l’Innovation, Investissement Québec and Desjardins Entreprises Centre-du-Québec for their support. This strategic funding will enable us to remain a leader in the non-alcoholic beer in Quebec and to export our unique products elsewhere in America, thereby raising the profile of our own know-how,” states Michael Jean, Director General, Microbrasserie Le BockAle.“To witness the resounding success of an innovative business such as Microbrasserie Le BockAle gives real meaning to our work. We can but be extremely proud to support a business that contributes to our region’s prosperity, that positions itself as a model business for many entrepreneurs and that promotes a way of drinking responsibly. Committing to a better society is one of the fundamental values the Fonds régionaux de solidarité FTQ shares with their business partners,” adds Gabriel Hamel, Director, Investment, Fonds régionaux de solidarité FTQ Centre-du-Québec.“We are proud to support Microbrasserie Le BockAle, a homegrown business that stands out through its know-how and sense of innovation by proposing original craft beers to Quebec and Canadian hops lovers,” states Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Honourable Mélanie Joly, Minister of Economic Development and Official Languages (Economic Development Agency of Canada for the Regions of Quebec). “This SME’s success raises the profile not only of the region, also of the entire Canadian economy. We are here to support workers and Quebec and Canadian SMEs in these difficult times; we are helping them equip themselves with what they need so that, together, we can rebuild a stronger, more resilient and more sustainable economy. Helping businesses grow and innovate so they can enhance their competitiveness and create good-quality jobs is at the heart of our priorities.”Increasing our exports to reduce our trade balance and create wealth at home is one of our government’s priorities. The Microbrasserie Le BockAle project, which centres on acquiring advanced equipment to expand production and supply markets outside Quebec, is exactly the type of initiative we seek to support with Investissement Québec. Helping businesses realize their project to innovate remains one of the best ways to stimulate the economic recovery, and this promising project is a perfect example of this,” continues Pierre Fitzgibbon, Minister of Economy and Innovation.“We are delighted to encourage this business from Drummondville, in the Centre-du-Québec region, as it makes its expansion projects a concrete reality. Since its beginnings, Microbrasserie Le BockAle has been able to distinguish itself from the competition by focusing on non-alcoholic beers. I congratulate the entire team on these investments! They will enable the business to remain a leader in its field and generate positive spinoffs for the economy of the entire region,” indicates André Lamontagne, Minister of Agriculture, Fisheries and Food and Minister Responsible for the Centre-du-Québec Region.“The evidence is clear: businesses that embrace the technological shift perform better and are more competitive. We are proud to take part in this project by Microbrasserie Le BockAle, which will enable it to increase its productivity, improve its current offering and develop new products that will raise the profile of Quebec’s talent beyond our borders. Our regional team is and will remain at the business’s side to help it make its ideas a concrete reality and face any challenges that may arise,” affirms Guy LeBlanc, President and CEO, Investissement Québec.“Microbrasserie Le BockAle is a pioneer in Quebec with its range of non-alcoholic beers, and it continues to innovate to remain a leader in its market. The business stands out for its creativity and mastery of commercialization and marketing mechanisms. Le BockAle’s evolution and growth are a source of inspiration, and the success of this dynamic business is a source of regional pride,” concludes Patrice Daniel, Account Manager, Desjardins Entreprises Centre-du-Québec.About the Fonds régionaux de solidarité FTQFor over 24 years, the Fonds régionaux de solidarité FTQ have been involved in the economic development of every region across Quebec. Created in 1996, the Fonds régionaux have invested a little over $1 billion in nearly 1400 businesses. Through these investments, they have supported close to 52,000 jobs.About Microbrasserie Le BockAleFounded in 2015 in Drummondville, Microbrasserie Le BockAle is today one of the only breweries to have developed, to produce and to offer a vast selection of non-alcoholic microbrewery beers in Quebec businesses. It is great to celebrate, but it is even better to celebrate responsibly!About Canada Economic Development for Quebec RegionsCanada Economic Development for Quebec Regions (CED) offers funding and mentoring to Quebec businesses and regions. Its actions centre around SMEs and non-profit economic organizations.About the Ministère de l’Économie et de l’Innovation du QuébecThe Ministère de l’Économie et de l’Innovation du Québec has a mission to support the growth and productivity of businesses, entrepreneurship, research, innovation and its commercialization, as well as investment, and digital and export market development.About Investissement QuébecInvestissement Québec has a mission to actively participate in Quebec’s economic development by stimulating business innovation, entrepreneurship and business succession, as well as investment and export growth. Active across all of Quebec’s administrative regions, it supports the creation and development of businesses of all sizes through investments and adapted financial solutions. Investissement Québec also helps businesses with advisory services and other mentoring measures, including technological assistance provided by Investissement Québec – CRIQ. In addition, through Investissement Québec International, the Corporation mentors businesses around exporting and guides foreign talent and investment prospecting in Quebec.About Mouvement DesjardinsMouvement Desjardins is the largest cooperative financial group in Canada and the sixth largest in the world. It is listed among Canada’s Best Employers according to the ranking by Aon Hewitt, and is considered the most solid banking institution in North America according to Bloomberg Financial Information Agency. To meet the various needs of its members and clients, including individuals and businesses, it offers a full range of products and services through its vast network of service points, virtual platforms and branches across Canada. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Agriculture, Ambassador, america, Canada, creativity, Economic Development, entrepreneurs, Fisheries, Government, innovation, Investment, North America, parliament, production, Sherbrooke, sustainablelast_img read more

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