Last 30 Days
Robot AI Startup Physical Intelligence Raises $400 Million From Bezos, OpenAI
November 4, 2024
(Reuters) - Physical Intelligence, a startup that is developing foundational software for robots, said on Monday it has raised $400 million in early-stage funding from Amazon's Jeff Bezos, OpenAI, venture capital firms Thrive Capital and Lux Capital. The new funds were raised at a $2 billion valuation, PitchBook data showed. Physical Intelligence is seeking to make a software that would work on any robot, eliminating the need to develop a software for each specific task. The largest tech companies — Microsoft, Google, Meta, Amazon, and Nvidia — are investing billions in adopting AI. Funding of AI and cloud companies in the U.S., ...
Analysis-Companies Boost Social and Climate Reporting Amid ESG Backlash
November 4, 2024
By Ross Kerber (Reuters) - Many U.S. companies have stepped up reporting on environmental and social matters in recent years even with sustained pressure from conservative politicians, data reviewed by Reuters shows. The trend shows the importance investors and regulators now place on environmental, social and governance (ESG) issues, analysts said, amid rapid global warming and shifting workforce demographics. Some political conservatives call the attention misplaced or worry the disclosures could give activists leverage to force companies to make unnecessary changes. "Most ESG problems are business problems. I'm an accounting profe...
EU Must Spend 39 Billion Euros a Year for Net Zero Transport Targets, Campaign Group Says
November 4, 2024
By Alessandro Parodi (Reuters) - Europe needs to spend 39 billion euros ($42.46 billion) a year to reach its net zero targets in the transport sector by 2050, campaign group Transport & Environment (T&E) said on Monday, issuing five key recommendations for the European Union. The EU is seeking a more coordinated industrial policy involving massive investment, including in green technologies, following a report by former European Central Bank chief and Italian prime minister Mario Draghi in September. "An EU-level investment strategy must be urgently deployed to decisively support transport decarbonisation and enhance the sect...
Wall St Struggles to Gain as Uncertainty Around U.S. Election Grows
November 4, 2024
By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks oscillated between gains and losses on Monday, as investors prepared for a crucial week in which Americans will elect a new president and the Federal Reserve will announce its policy statement. The presidential election saw candidates Donald Trump and Kamala Harris both scrambling for an edge in the last full day of a race that polls show as extremely close. It could take days to determine the victor. Some of the so-called "Trump trades" unwound after a recent poll showed Harris leading in Iowa, sparking a drop in the U.S. dollar , Treasury yields <US10YT=RR> and bitcoin . Tr...
Loyalty Program Membership, Contribution, Liability, and Costs Continue to Grow
CBRE Hotels | November 4, 2024
By Rachael Rothman CFA, ISHC, Robert Mandelbaum, and Christine Bang Strong loyalty programs help hotel brands lower customer acquisition costs, increase direct-to-consumer access, and offset occupancy shortfalls during shoulder periods and weaker economic conditions. After analyzing publicly available data from five large hotel companies, we found that while growth in several key metrics slowed in 2023, loyalty members' overall contribution to occupancy increased, though marginal contribution per member contracted. Benefits The average number of loyalty program members at the subject five companies increased 11.3% in 2023, slower tha...
Mews Acquires Sales and Catering Innovator, Quotelo
Mews | November 4, 2024
Mews makes its first French product acquisition [Lyon, 4 November 2024]: Mews, the industry-leading hospitality cloud, has announced the acquisition of Quotelo, marking its first product acquisition in France. This milestone comes on the heels of Mews surpassing 1,000 French customers, further solidifying its presence and commitment to innovation in the region. Founded in 2021, Quotelo revolutionizes event hospitality by accelerating and simplifying event quotation, booking and management. Quotelo’s seamless solution supports independent hotels and resorts, as well as major hotel brands, to increase their revenue for groups and...
Sojern and Cloudbeds Announce New Integration at World Travel Market 2024
Sojern | November 4, 2024
LONDON – 4 November 2024 – Sojern, the leading digital marketing platform built for travel, and Cloudbeds, the premier hospitality management software platform, have today announced a new partnership to bring two leaders together within the hotel technology space, just ahead of the World Travel Market in London. This strategic partnership means that Sojern’s built-for-travel digital marketing and guest experience solutions are fully integrated with Cloudbeds’ system and deliver industry-leading accuracy and tracking capabilities. Sojern’s commission-based travel advertising helps hoteliers increase direct bookings while only pa...
First-Ever GBTA Sustainability Benchmark Reveals Gaps to Decarbonize Business Travel Programs, Calls for Accelerated Corporate Action to Reach Net Zer
GBTA Foundation’s Sustainability Initiative | November 4, 2024
GBTA’s Sustainability Acceleration Challenge assesses emissions reduction efforts in corporate travel across all industry sectors, highlighting areas for immediate progress The GBTA Foundation, the charitable arm of the Global Business Travel Association (GBTA), today unveiled findings from its Sustainability Acceleration Challenge, an industry-first global benchmarking initiative to evaluate the current state of business travel programs and the actions being taken by organizations to decarbonize them. The findings reveal that organizations have much work to do to accelerate the integration of practices if they are to materially reduce...
