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Press
Equifax Inc. (NYSE: EFX) announced the launch of its Small Business initiative with services to help businesses understand, monitor and strengthen their own credit performance as well as the credit health of the companies they're doing business with.
The reports, available via credit card individually or in discounted multi-packs of five, help customers evaluate a potential partner or supplier as well as gain valuable insight into their own business credit score. Unlike others in the industry, Equifax has an exclusive partnership with the Small Business Financial Exchange (SBFE), an organization made up of more than 400 small business financial institutions with a database on more than 24 million companies. This exclusive relationship allows Equifax to combine this unique information with its own distinctive data to offer the most comprehensive, relevant and predictive industry information in the United States.
Equifax Business Credit Reports which are simple to obtain, easy to use and interpret include:
- A trade and lending summary showing a company's financial and non-financial obligations.
- A public records summary detailing any judgments, liens, or business registration with secretaries of state.
- Three scores to help evaluate a company's credit risk, payment history and likelihood of business failure.
To help keep an ongoing, watchful eye on critical partner, supplier and customer relationships, Equifax also offers Business Credit Monitoring and Alert services. This service tracks a company's credit report and sends a daily email if significant changes occur to it. Businesses also use the service to monitor their own business credit scores to help manage their own commercial credit.
Equifax Commercial Information Solutions provides the information and expertise necessary for companies to best understand and manage their dealings with business customers, prospects and suppliers. The company's exclusive relationship with the Small Business Financial Exchange, along with other proprietary sources, provides the best-in-class commercial credit risk data. Combined with highly predictive scoring and innovative technology, businesses can leverage this information to make quick, confident credit decisions and minimize potential losses.
Source: Equifax Press Release
Equifax is a member of BIIA
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Beijing, June 4, 2010: Lin Lei, Co-President & Joint CEO of Sinotrust, was invited to the “2010 (7th) China Data Mining and Business Intelligence Symposium & Cross-Strait Applied Statistics Symposium” organized by the School of Statistics of Renmin University of China. As a platform for idea exchange on data-mining theories, development and application, the symposium gathered the most talented minds from mainland China and Taiwan in this field.
Nearly 150 participants from Renmin University of China, Fu Jen Catholic University, National ChengChi University, Fudan University, Xiamen University, and other software and database marketing service providers shared their research achievements in data mining and business intelligence at the symposium.
Sinotrust, China’s largest auto marketing solution provider, has a slew of successful cases on auto database marketing and business intelligence services. At this symposium, Lin delivered a speech titled “From the Perspective of the Automotive Industry: The Development and Future Trends of China’s Database Marketing and Business Intelligence”.
To read the full story click on the attachment
Sinotrust is a member of BIIA
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Now that the banks have regained their senses and have returned to the days of cool calculation regarding how they disperse their money, we can all heave a sigh of relief – safe in the confidence that all is well in the world of the financial community. Well, maybe not. At least not for those companies that may have encountered some issues in the last few months as far as their business performance is concerned. A report from S&P backs up some earlier assessments from other ratings groups that states that companies that are not rated very highly by these agencies will have a difficult time getting the financing they will need in the next few years.
In the next few years there will be a need to refinance over $1.7 trillion in an environment that will be far more hostile to the finance world than when these loans were made in the first place. The businesses that will be the most vulnerable will be those that are in sectors that are still waiting to see their consumers come back to life. The consumer is still on the sidelines and that will have a deleterious impact on retail, restaurants, entertainment and leisure. These struggling sectors will in turn impact the manufacturers and service sectors that are engaged with these sectors.
Retail and restaurant businesses are especially sensitive to the moods of the consumer and there is only preliminary evidence that the consumer is starting to shake out of their lethargy. The amount of debt that needs to be refinanced by this sector in 2011 is $8.9 billion. In 2012 there will an additional $12 billion to be dealt with and on 2013 there is yet another $17 billion maturing. The numbers are even worse in the entertainment and leisure fields. There is a debt load in 2011 of $17.7 billion and in 2012 there will be additional $36.5 billion and a massive $50.6 billion more maturing in 2013. Given the present economic situation, there is no way that these sectors make enough money to cover these obligations and that means that these companies will be forced to turn to financing. Good luck. The banks are demanding the kind of fiduciary responsibility they should have been demanding all along but now the vast majority of the companies that need help are in far worse shape than they were in when they received their original funding.
Analysis: This situation creates a real dilemma for the economy as a whole. These are the companies which will be counted on to make a dent in the unemployment rate and that is not going to be easy if they are struggling for their very survival. The banks will have little flexibility in their response given the new reality of the financial world. The ratings agencies have found religion and will not be issuing favorable assessments unless there is ample justification to do so and the banks will be under the gun to exercise real caution in terms of who they lend to. The companies that will be seeking to refinance will be in far poorer shape than they were when they asked for the original loan and more will be turned down than ever. This does not bode well for the expansion of job growth in the next few years and by most estimates there will be a wave of bankruptcies as early as 2011 and certainly by 2013. Some sectors have already started to feel the impact of this financial situation – commercial real estate has been there for some months and the construction industry has been hammered by the financial reality already.
Courtesy of Chris Kuehl, Armada Corporate Intelligence. Chris Kuehl is a BIIA Board Member
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Is business information at the threshold of a turnaround?
The general consensus from CEO comments on Q1 results is that the credit crunch is still with us, but the situation is stabilizing. Experian’s CEO Don Roberts proclaimed in a recent analysts' meeting: "I don’t see a return to the Go-Go days of 3 to 4 years ago" referring to the high growth period leading up to the credit crunch.. His solution lies in diversity: less reliance on the financial services sector for growth, more verticals, greater product innovation and a global footprint.
Revenues for credit rating services seem to be on the verge of a turnaround, however based on what is in store for the credit rating industry from a regulatory environment point of view, their business model is likely to change dramatically.
The US Senate passed a landmark WALL STREET REFORM BILL which includes a poison pill for credit rating companies in form of a liability provision: Investors could bring private rights of action against rating agencies for a knowing or reckless failure to conduct a reasonable investigation of the facts or to obtain analysis from an independent source. Up to now credit rating agencies claim that their ratings are opinions and not investment recommendations or advice. The implications will be more cautious ratings, perhaps even no ratings for certain entities, government and municipals or entire new industries which cannot come up with sufficient historical performance data.
Notwithstanding the imminent ‘thumb of government’ a number of companies have indicated their interest in entering the credit rating business: Morningstar (see page 15), Bloomberg, Coface, Kroll, Hearst and not to be left out KPMG and PwC. What makes them think they will do better?
You can read the full story in the June 2010 - I issue of the BIIA newsletter: http://www.biia.com/memberNewsPW.php
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Wednesday 14 April, 2010, London, New York, Hong Kong -- Ascend, the principal provider of data, analytics and advice to investors who finance aircraft today launch the first industry-standard Aircraft Ratings, enabling increased scrutiny in calculating risk associated with aircraft financing.
To read the full story click on the link: http://www.biia.com/industry_news.php
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In order to drive business exchanges and cooperation between China and Hong Kong, the Credit Reference Center (CRC) of the People's Bank of China (PBC), Dun & Bradstreet Hong Kong and TransUnion in Hong Kong jointly held the “Sharing Best Practices and Enhancing Cooperation of Credit Reporting Services in Mainland China and Hong Kong” seminar in Hong Kong on March 25-26, 2010. The vice governor of PBC, Zhu Min, deputy chief executive of the Hong Kong Monetary Authority, Arthur Yuen, and the director-general of PBC Credit Information System Bureau, Shao Fujun, were speakers at the seminar.
Topics discussed at the seminar included the global development of the credit reporting industry; the establishment of a credit reporting service infrastructure in China with local features; the implementation experience of and demand for credit reporting services among commercial banks in the Greater China region; and credit risk management of commercial banks and credit scoring experience. More than 70 senior executives and risk management executives from more than 20 mainland Chinese banks were in attendance.
Those attending including: the Industrial and Commercial Bank of China, Agricultural Bank, Bank of China, China Construction Bank, Bank of Communications, China Merchants Bank, Pudong Development Bank and more than 10 commercial banks and financial organizations from Hong Kong - HSBC, Citibank, Standard Chartered Bank, American Express, Bank of East Asia - and commercial banks from Taiwan.
In his speech, Mr Zhu Min of the PBC acknowledged the major achievements of China in the credit reporting sector over the past few years. After six years of development, China has built a credit reporting network covering the whole country. The standardized national enterprise and personal credit reporting system collects and centralizes a wide range of information from banks and financial organizations. This system is unique in the world. As of February 2010, the personal credit information system included 670 million personal records and 16, 147,000 enterprise and organization records in the enterprise credit information system. These two systems plays a major role in enhancing the risk management capability and asset quality and quantity of banks in mainland China.
Mr Zhu continued to highlight that after the global financial crisis Asia has been playing a role of greater importance in global economic development. This is reflected by the speed of economic growth of countries across the world in 2009. For example, the GDP growth of China and India in 2009 was 8.7 percent and 7.5 percent, respectively, while the U.S. and the Europe Union was - 2.4 percent and - 4.0 percent, respectively. The focus of the global economy is obviously moving to Asia and with this trend, the demand for credit reporting service was also set to increase rapidly. This will bring great opportunities to the credit reporting industry in China.
Whether it is for the development of the bond market or the financial system of rural cities, there will be greater demand for credit reporting service, as well as its transparency, quality and quantity. Mr Zhu said that financing was a problem to small- to medium-sized enterprises (SMEs). In the past, China was concerned about inadequate warranty and credit. Now, Mr. Zhu noted that it seems inadequate and unregulated information disclosure is also a major concern. Credit bureaus will play a key role in solving the financing problems of SMEs. He said that the foundation and basic structure of the credit reporting system is currently in place. Hong Kong has good credit reporting experience and products. Closer communication and cooperation among credit reference agencies in Hong Kong and China, sharing of experiences and jointly exploring best practices in the industry will greatly help drive the further development of the credit reporting industry in China. This will benefit the stability of the financial industry and economic development of the two places.
Towards the end of his speech, Mr Zhu said he believed that the credit reporting industry in Greater China has a bright future. He suggested closer cooperation among all parties to jointly build a world-class credit reporting market structure with unique China features. This suggestion was highly commended by all representatives at the event.
The deputy chief executive of the Hong Kong Monetary Authority Arthur Yuen and the director-general of PBC Credit Information System Bureau Dr Shao Fujun also delivered speeches during the conference. They introduced the development of the credit reporting industry in the two geographic areas and also regarded the conference as a valuable industry event. They hoped that cross-border cooperation will help drive the development of the credit reporting industry, provide better services to the financial industry and create a better environment for the usage of credit reports among the community.
The director of PBC Credit Reference Center, Dai Genyou, chief executive of TransUnion in the U.S., Bobby Mehta, and senior vice president, business development of Dun & Bradstreet International, Lawrence Yee, introduced the construction of a credit reporting system with special China features and the development and trends of the global consumer and commercial credit reporting organizations.
As the core customers of the credit report systems, the representatives of commercial banks in Hong Kong and China shared information about their experience and demand of personal and commercial credit reporting products from the customer perspectives. They also talked about how commercial banks develop credit scoring using information supplied by credit reporting companies and their experience on credit risk management. The credit reporting companies in Hong Kong and China shared their experience about the formulation of credit information agencies, data management, credit reporting services for small and medium sized enterprises, product development, credit scoring modules development and mass information management technology.
The conference held jointly by the three parties met the objectives in sharing experience and exploring ways of cooperation among credit reporting companies and financial organizations in the two geographies. It was also a meaningful occasion allowing credit reporting companies in the two areas to discuss ways to enhance the quality and quantity of credit reporting services for both financial organizations and consumers in China. Representatives spoke highly about the achievements of the event, which facilitated the establishment of an exchange and cooperation platform for credit reporting companies and commercial banks in the Greater China region.
About The People’s Bank of China Credit Reference Center.
The People’s Bank of China Credit Reference Center (CRC) was established in 2006 as a direct subsidiary of the People’s Bank of China, providing credit reporting services and asset financing registration services. It is responsible for the establishment, operation and management of the national commercial and personal credit information systems. The mission of the Center is to serve the community by providing convenient, fast and efficient services to government departments, financial regulatory bodies, financial organizations, enterprises and consumers. The objectives of the Center are to maximize the usage value of the credit information systems and enhance the credit environment of the country. For more information, please visit http://www.pbccrc.org.cn.
About D&B
D&B (NYSE:DNB) is the world's leading source of business information and insight, enabling companies to Decide with Confidence for 168 years. D&B's products and services are drawn from a global database of over 160 million records in 214 countries around the world. In 2004, The Hong Kong Association of Banks (HKAB) and The DTC Association (DTCA) had appointed D&B Hong Kong as the service provider of the Commercial Credit Reference Agency (CCRA) in Hong Kong. The CCRA, to be operated by D&B Hong Kong, will collate information about the indebtedness and credit history of small and medium-sized enterprises (SMEs) and make such information available to members of HKAB and DTCA for the purpose of granting, reviewing or renewing an SME's credit.
For more information on D&B Hong Kong, please visit http://www.dnb.com.hk
About TransUnion
As a global leader in credit and information management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion has employees in more than 25 countries on five continents.
http://www.transunion.hk
D&B and TransUnion are members of BIIA
For the Chinese language press release click on the attachment
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Hong Kong, March 22, 2010. In line with the continued growth in membership, BIIA's Board of Directors appointed four new board members at the March 22, 2010 board meeting. The BIIA Board will submit their names for election by the membership at the next membership meeting. The new board members are:
- Mark Cochrane, Managing Director of Business Strategies Group (BSG)
- Dr. Chris Kuehl, Managing Director — Armada Corporate Intelligence
- Luz Maria Salamina, General Manager of Asociación Panameña de Crédito (APC)
- Brook Zhang, Co-President & CEO of Sinotrust International Information & Consulting (Beijing) Co., Ltd.
BIIA Chairman David Worlock commented on the appointments: “We extend a warm welcome to our new board members and appreciate their willingness to make their expertise available, not only for the benefit of our members, but also for the business information industry as a whole."
"When we emerge from this global recession, information marketplaces and their competitive structures will have changed radically. Competitors will have repositioned themselves. When growth re-ignites, it will come first from the new information power houses of China and India extending to the entire Pacific Rim. We look forward to working with our new board members to strengthen BIIA’s capabilities in promoting and protecting our industry.”
For further information contact: Joachim C Bartels, BIIA, Hong Kong, China biiainfo@biia.com
For background information of BIIA Directors click on the link: http://www.biia.com/boardOfDirectors.php
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Dun & Bradstreet India, a leading provider of business information, knowledge and insight, today, announced that Dr. Manoj Vaish will be stepping down as President & CEO of the company, effective March 31, 2010. Dr. Vaish will be succeeded by Kaushal Sampat, who is currently D&B India’s Chief Operating Officer. This planned succession will take place with Kaushal assuming President & CEO responsibilities, effective April 1, 2010.
Mr. David Emery, President Asia Pacific & Senior Vice President of the Corporation, Dun & Bradstreet said "This transition is part of a planned succession process. While serving as Leader, D&B India, Manoj was instrumental in creating high performance teams, successful businesses and was responsible in the consistent growth of D&B India's Revenue for the last six years. He played a key role in building and managing relationships with key external stakeholders and alliance partners and effectively drove the creation of new JVs".
"I would like to thank Manoj for his strong leadership and wish him the best in his future endeavours and congratulate Kaushal on his new role as he leads D&B India to continued success, he added".
Dr. Manoj Vaish said "Kaushal is an excellent choice to be the next President & CEO. He has played a key role in the growth of D&B in India. Kaushal has held a host of strategic responsibilities and has moved up over the years, developing aggressive strategies backed by strong operating skills and relentless execution. He is a passionate leader and I am sure he will take D&B to its next level of growth and development."
Talking about his new role, Kaushal Sampat said, "I am delighted to assume this leadership role and I want to thank Manoj for his continued guidance and unyielding support. His exemplary leadership has brought D&B to the prominent place it occupies today. Dun & Bradstreet has gained strong momentum in recent years, with a strong foundation for future growth. Backed by an enviable brand and our outstanding management team, I am positive that we will now take our success to even newer highs".
In a career spanning over 16 years, Kaushal Sampat has held a host of strategic responsibilities. He joined Dun & Bradstreet as a Business Analyst in 1998 and has played a key role in developing new businesses for the company in India (Sales & Marketing Solutions, Economic Analysis Group, Financial Education Solutions & Hoovers) and also forging strategic alliances. Kaushal has held a variety of strategic and operational roles in the company's various SBUs. He has also been responsible for Dun & Bradstreet's e-commerce initiatives in ASEAN/South Asia.
Prior to his tenure at Dun & Bradstreet, Kaushal worked in the manufacturing sector for four years with a focus on international business. He graduated from the Sydenham College of Commerce and Economics, Mumbai, and has an MBA from Bowling Green State University, in the US.
Source: D&B Press Release
D&B India is a Full Member of BIIA
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8 March 2010: Veda Advantage today announced its subsidiary business Secure Sentinel has acquired the business and membership base of secure registration service provider Card Alert and its sister company, EKKO Guardian.
These strategic acquisitions follow Veda Advantage's purchase of loss assistance and retrieval specialists, Secure Sentinel, in May 2009 and will complement and expand the company's consumer identity protection services.
Veda Advantage CEO, Rory Matthews, says the acquisition of Card Alert will provide consumers with leading loss assistance and secure registration services as well as services to aid with the detection of identity theft.
"Combining the functionality of the Card Alert and EKKO Guardian products with those currently provided by Secure Sentinel will provide Veda Advantage customers with the opportunity to access best practice identity protection. This includes the ability to register their most important financial information in one secure location, receive assistance in the event of loss, and help customers to detect identity crime by receiving electronic alerts of any changes to their credit file," he said.
Card Alert and EKKO Guardian's members will be offered full membership of Secure Sentinel, bringing the number of members using Secure Sentinel's products to almost 400,000. Secure Sentinel national manager, Fahrena Mitchelson, said: "Card Alert and EKKO Guardian customers will be offered an upgrade to premium Secure Sentinel membership status. Over the next few months Secure Sentinel membership kits will be sent to all Card Alert and EKKO Guardian members, providing new contact information, luggage tags, key tags and information required to register for the Secure Identity alert service. In the meantime, members do not need to change any of their details and it will be business as usual for all Card Alert and EKKO Guardian customers."
The Secure Sentinel service provides loss assistance and retrieval services for financial cards, mobile phones, documents and personal valuables in one package. The premium Secure Identity product can trigger a notice to a member when an application for credit is made in their name and is registered on the Veda Advantage credit bureau, alerting the member to potentially fraudulent credit applications and helping to detect identity theft.
For more information, please contact Sally Robertson: 0400 927 003 or (02) 9270 0289
Veda Advantage is a full member of BIIA
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Business Strategies Group Ltd. (BSG), Asia’s leading consultants to the business media and events industry, has announced new management plans for 2010 and beyond.
From 1st January 2010, BSG founder Paul Woodward will become chairman of the company with Mark Cochrane taking on the role of Managing Director. They will lead the business together until 1st July when Mr. Woodward leaves Asia to take on the full time position of Managing Director of UFI, the global association of the exhibition industry. At that point, Mr. Woodward will become non-executive chairman of BSG and Mr. Cochrane will assume overall management responsibility for the company.
Commenting on the transition, Mr. Woodward said “We are all delighted that Mark will be stepping into this leadership role to take BSG forward into its second decade of business. The need which we identified back in 2000 when the company was formed for high quality, reliable information and advice on the business media industry in Asia still very much exists today. Mark’s experience means that he is very well positioned to provide what our clients need in the future.”
Regarding his new role, Mr. Cochrane said, “As Asia continues to be a growth centre, this is an exciting time to be managing BSG as it further strengthens its position as a market leader. I look forward to continuing to build on BSG’s long track record of providing clients with the advice and data that they need to successfully navigate change in this fast-growing industry.”
Source: http://bsgasianews.blogspot.com/
Business Strategies Group is a Founder Member of BIIA
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C3 Business information, Inc. (C3BI) has joined BIIA as a new member.
C3 delivers global company credit reports, and on demand credit reports on US businesses. C3BI distributes SkyMinder in the Americas. SkyMinder is one of the premier sources of international credit reports. C3 also produces personalized US company reports that are Current, Comprehensive and Compelling (C3). The company was formed in January of 2009.
BIIA asked Bob Schmitt, President of C3 what prompted him to launch a business information company at the height of the credit crunch.
His response was: “In January 2009, I was afforded the opportunity to buy the US operations of CRIF. Yes, there was (and still is) a credit crunch but it seems to me to be the perfect time to do what we do. That is, helping our customers maintain the integrity and quality of their A/R portfolio as the driver of cash flow. At C3, we feel that we accomplish this on two fronts. One, by organizing and delivering the highest quality US Company reports possible (we actually guarantee them to be the most current and comprehensive available) and two, by delivering some of the best international content at a price that allows our customers to invest in other tools to grow their business.
BIIA also asked Bob Schmitt: As you are moving into a market niche, what are the compelling reasons for clients to order 'on demand' credit reports, rather than going online to obtain information from a multitude of suppliers?
Bob Schmitt commented: “Our niche can be defined in two ways. Those are any customer that has some lead time before they need the information and/or any customer that needs to conduct periodic file reviews. In both cases, the customer recognizes the importance of the most current and comprehensive reports available. Given the economic realities of the day, I can’t imagine anyone feeling comfortable relying on dated or partial information.
C3 Business Information, Inc. is located at: 3505 East Frontage Rd. Suite 175; Tampa, FL 33607; http://www.c3bizinfo.com; http://www.skyminder.com
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BIIA welcomes its newest member HELLASTAT S.A., GREECE.
HELLASTAT S.A. is located in Greece and produces a wide range of business, marketing and credit information solutions and decision support services. It possesses the essential experience, know-how, systems and human resources in order to provide value added products and services. The company operates in the areas of business information & decision support systems. It is the only company in Greece that uses the XBRL standard and to hold the largest database of business information for more than 800.000 firms and 150 industries that cover the full spectrum of the economic activity in Greece and the Balkans.
Panos Michalopoulos, managing partner of HELLASTAT S.A. said that it was quite important for his firm to join a growing global network of business information companies and information professionals. BIIA’s commitment to promoting and protecting the business information industry, networking and sharing best demonstrated practices are relevant for the growth of his business.
HELLASTAT S.A. was founded in 2002.
MEET OUR FULL MEMBER HELLASTAT S.A. GREECE BY CLICKING ON THE LINK: http://www.biia.com/library.php#310
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The White Paper accentuates the differences between commercial credit reporting and consumer credit reporting and why these services deserve different legal frameworks.
Commercial credit reporting standards have been developed over decades in response to technological developments and market requirements to assess commercial trade credit, bank loans and trade finance. Continuous improvements in information quality as well as the development of new and better products manifest the vitality of the companies that compete in the commercial credit reporting industry.
The document was prepared by the regulatory committee of BIIA in response to the desire of regulators to strengthen legal frameworks on credit information due to the global credit crisis.
To access the White Paper click on the link: http://www.biia.com/library.php#304
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Outsell Inc. issued today its latest "2009 Information Industry Market Size, Share & Forecast Report"
THE UNPRECEDENTED 2009 RECESSION LEFT A GREAT SCAR ON THE INFORMATION INDUSTRY.
DECEMBER 15, 2009. This latest report is an important annual roundup of Outsell's research and analysis of the information industry. It looks at the big picture and offers a forward-looking view that summarizes metrics and trends for all key vertical segments of the industry and the key customer groups (end-users, enterprises, and advertisers) that drive overall funding for the industry.
The report draws extensively from Outsell's unique industry metrics and analytics, Outsell's daily contact with people in the information industry, and the deep industry experience of our analytical staff. Our data assets include details of over 7,000 industry firms that create and aggregate information and make it commercially available online or offline, inclusive of all business models and content types. We also track the three major markets for information: end-users, enterprise buyers, and advertisers. This report contains:
- Actual and forecast revenue and growth rates 2005-2012 for the total information industry;
- Actual and forecast revenue and growth rates 2007-2012 for each of the 11 segments Outsell covers in detail;
- Key market trends, first-half performance, and companies to watch in each of the 11 information industry segments;
- Analysis of the state of the worldwide information industry, and the 2009 forecast by segment;
- Analysis of advertising and marketing spending as one indicator of the health and growth of the information industry;
- Analysis of key findings about end-users and library spending;
- A table listing Outsell's top 100 information industry companies by 2008 revenue.
THE UNPRECEDENTED 2009 RECESSION LEFT A GREAT SCAR ON THE INFORMATION INDUSTRY. At year end, Outsell is predicting that our industry will have shed 8.0% of its total revenue, dropping from $399 billion to $367 billion at the end of 2009. In this market climate, many rules, metrics, and gauges for determining success have to be altered from our earlier perceptions.
No segment has been immune to the effects of the recession. When comparing last year’s growth rates to the 2009 rates, the pullback is general and spread across all segments. Four segments have a double-digit decline in growth: News Providers & Publishers, HR Information, Company Information, and B2BTrade Publishing. An additional four segments have experienced single-digit declines: Credit & Financial Information; Market Research, Reports & Services; IT & Telecom Research, Reports & Services; and Yellow Pages & Directories. Only our segments managed positive growth: Education & Training, which is less sensitive to the recession given the influence of government money; Legal, Tax & Regulatory; Scientific, Technical & Medical; and Search, Aggregation & Syndication, which managed growth, but at a much slower rate than the previous year, showing a 15-point decline in its growth rate between 2008 and 2009.
Link to this report on our website - http://www.outsellinc.com/store/products/895
OUTSELL INC IS A FOUNDER MEMBER OF BIIA
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Beijing, October 28, 2009----The China Economic Monitoring Center of the China National Bureau of Statistics and Sinotrust International Information & Consulting (Beijing) Co., Ltd. jointly release the "2009 Q3 China Automotive Industry Climate Index".
The China Automotive Industry Climate Index records 99.6 points in the third quarter of 2009 (2001=100), up 2.7 points over the second quarter, which indicates that the automotive market is already recovering from the downturn. Thanks to the continuous policy support in Q3, the automotive industry continues to expand and prosper in production and sales, and thus in line with Q2. This trend is demonstrated by the stable rise in sales revenues, the significant increase in profits and taxes, the decrease in deficit and finally by the reduced number of companies running in the red. At the same time, the auto and spare parts export sector is also showing signs of recovery.
To read the full release click on the attachment
http://www.sinotrust.cn
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Beijing, October 14, 2009----Starting from scratch, China’s auto industry has reached a scale of annual production of over 10 million units with 60 years of development. Owning a car is no longer a dream to Chinese ordinary family.
It is forecasted that China will register an auto production volume of over 12 million in 2009. The rapid growing industry has become an important integral part of national economy.
On October 14, Hui Yumei, Research Manager of Sinotrust Automotive Industry Research, reviewed the development of Chinese auto industry over the 60 years on October Symposium on Auto Policy and Market.
To learn more about this review click on the attachment or contact: http://www.sinotrust.cn
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OUTSELL, INC. a BIIA Founder Member, has just issued its report on the global Credit & Financial Information (C&F) market. The C&F market size in 2008 was $42.1 billion and is forecasted to grow to $44.9 billion by 2012, a four-year compound annual growth rate (CAGR) of 1.6%. The first two years of the forecast period, 2009 and 2010, will be particularly difficult for the segment, with revenues declining in 2009 and only making a very modest recovery in 2010.
Outsell’s forecast is based on separate consideration of three sub-segments of the Credit & Financial Information marketplace because of significant differences in the timings (in relation to the projected economic recovery) of the main drivers impacting on revenues. These sub-segments are: Credit information accounting for an estimated 27% of C&F revenues in 2008; credit rating agencies accounting for an estimated 15% of C&F revenues in 2008 and financial information , accounting for an estimated 58% of C&F revenues in 2008.
In this report, Outsell Inc. focus on essential data and analysis providing an in-depth view into the Credit & Financial Information (C&F) segment. This report includes detailed analysis of market trends and forecast for this segment’s growth and performance to 2012.
Additionally, the 10 to Watch section casts light on some established companies in this segment and some critical up and coming companies, and the disruptive forces they embody.
To order the report contact: http://www.outsellinc.com
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The credit information industry and BIIA welcomes the Australian government decision that will increase competition and enhance responsible lending objectives
The announcement by the Commonwealth Government that they have accepted the Australian Law Reform Commission (ALRC) recommendations to introduce comprehensive credit reporting has the potential to dramatically change consumer lending in Australia, according to leading credit reporting agency Dun & Bradstreet.
The Government has accepted ALRC recommendations to allow additional data elements to be included in consumer credit reports, which will provide lenders with a clear picture of a borrowers’ true financial position.
D&B Australia managing director Christine Christian has been working relentlessly together with users of credit information and industry experts to bring about this important change. BIIA expresses its gratitude to its Australian members for their effort on behalf of the industry.
To read the press release of BIIA MEMBER D&B Australia click on the attachment. Other comments can be found on: http://www.biia.com/cci_industry_news.php
To read the full D&B Australia press release click on the attachment.
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Business Strategies Group, Hong Kong (http://www.bsgasia.com) has just released its updated report on the Hong Kong Trade Development Council (HKTDC).
The Hong Kong Trade Development Council (HKTDC) is a statutory organization, officially established with its own ordinance. As such, it is not officially a part of the Hong Kong government. The HKTDC assists Hong Kong-based businesses to market their products and services to an international buying audience.
The HKTDC organizes events and exhibitions, publishes sourcing magazines, offers training and advice and provides trade-related data and market intelligence through its website in an effort to promote Hong Kong merchandise and services.
Officially, the HKTDC website lists the following objectives as part of its mission:
- Develop and diversify markets for Hong Kong companies
- Promote Hong Kong’s products and services in world markets
- Promote Hong Kong’s leading role as an international business hub for services and information
- Enhance Hong Kong’s position as the pre-eminent international business city of China
- Enhance Hong Kong’s standing as a partner and platform for global business and supporter of free trade.
HKTDC continues to organize some of the largest sourcing exhibitions.
The HKTDC consistently organizes many of the largest fairs in Asia covering a wide range of industries including watches, electronics, toys, housewares, fashion and gifts & premiums. The HKTDC’s primary objectives remain essentially unchanged. They aim to help Hong Kong businesses especially small- and medium-sized enterprises (SMEs) to market their products and services to buyers around the world.
To order this report contact: Kerry Wong Assistant Research Manager, Business Strategies Group Hong Kong Kerry@bsgasia.com
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M&A advises clients in good times and bad times. Their questions are: Is this the time to sell? And, can we get it done at a reasonable price?
These are not simple questions, in the best of times; and, in times like these, managing a divestiture process requires particular focus, expertise, and discipline.
The attachment is a one page summary of this experience. We thought it might interest you.
Courtesy Marlin Associates - http://www.marlinllc.com
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The quarterly Global Economic & Risk Outlook Report states that governments and central banks have not yet succeeded in breaking the adverse feedback loop between the financial system and the real economy. This link makes it imperative to revive the banking sector, as the crisis which began in this industry has spread to other areas of
the financial sector, as well as to emerging markets in the past six months.
Recent data indicating a slowdown in the pace of economic deceleration should not be
interpreted as the start of a global recovery. A new report released today by leading
credit reporting and business intelligence firm Dun & Bradstreet (D&B) states that the
outlook for the world economy over 2009-10 remains poor and the downside risk to Australia remains considerable as a consequence.
The World Bank released it Global Finance Report projecting that the world economy would contract by 2.9%, down from its forecast of a minus 1.75% last March.
For the full story click on the attachment
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Outsell Inc. has published a report which looks at how Factiva, Dialog, and LexisNexis have embraced the mantra of No Guts, No Glory and are finding new opportunities, even though (or perhaps because) licensed content aggregators are now relegated behind general web search as a knowledge worker's starting point for information. The report is based on interviews with company executives plus secondary research and conversations with competitors and customers.
It builds on Outsell's reports and experience in the Search, Aggregation & Syndication (SAS) market segment and our ongoing coverage of the underlying companies within this field. The report updates our May 1, 2002, report titled "Not Your Father's Aggregator? Change and Continuity in the Big Three: Dialog, Factiva and LexisNexis", and includes:
- Analysis of the current licensed-content market, including key market trends;
- Company highlights for Factiva, Dialog, and LexisNexis, including recent history, target markets, unique strengths, and future developments;
- Threats and opportunities for these three companies and the traditional aggregation market;
- Essential actions for companies in this market.
Link to this report on Outsell's website - http://www.outsellinc.com/store/products/839
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This report provides a ranking, based on website traffic, of the top 30 online B2B businesses in Asia. The companies broadly fall into two categories, online sourcing platforms and online trade publications.
In addition to ranking the companies, this report also includes profiles of companies new to BSG's Top 30. If a company has been profiled in a previous edition of this report and if the details of the company profile have not changed, then the profile is not included in this edition of the report.
The Top 30 is dominated by companies based in Greater China; however, a few Indian sourcing platforms continue to make a showing. IndiaMart.com (#6) is in the same position as in the previous edition and TradeIndia.com (#9) moved up one place. Within the technology trade title ranking, a Japanese publication (ITmedia.co.jp, #5 overall) and a Chinese publication (Chinabyte.com, #7 overall) both posted reasonably a strong showing.
Of the 30 businesses in BSG’s B2B Online Media ranking, 19 are primarily finished goods sourcing websites or online trade directories (e.g. Alibaba.com and Global Sources). There are an additional five websites which are vertical industry websites (i.e. Netsun’s network of vertical sourcing sites). Five of the 30 are technology-focused trade publications and there is one general business title in the Top 30, Beijing-based Caijing.
To order this report contact: Kerry Wong, Researcher Kerry@bsgasia.com
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CHICAGO, April 21 - PRNewswire - In recognition of National Financial Literacy Month, TrueCredit.com wants to help consumers become more knowledgeable about the basics of finance so they can make more informed financial decisions and understand how they may be viewed by lenders and creditors. While the current economic situation has forced many consumers to make strides in becoming more aware of their finances, a new survey reveals Americans still have plenty to learn.
To read the full story click on the attachment.
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The World Competitiveness Scoreboard presents the 2009 overall rankings for the 57 economies covered by the WCY. The economies are ranked from the most to the least competitive and the results from the previous year’s scoreboard (2008)are shown in brackets.
The first and most well-known reference for analysing and ranking the competitiveness of nations.
Source IMD site: http://www.imd.ch/wcy09
Please view chart and press release by clicking on the attachment
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New Hong Kong bureau extends coverage of Asian companies and markets. BIIA member Breakingviews has expanded its coverage of Asia with the launch of its Hong Kong bureau. John Foley will lead Breakingviews’ agenda-setting financial commentary in the region, alongside an influential team of writers in Europe and the US.
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Business Strategies Group (a BIIA Founder Member) has issued a special report designed to provide its subscribers with a summary of the impact of the economic crisis on Asia’s B2B media sector to date.
The report details both the performance and initiatives of key B2B media companies in Asia - most of which have been in large part a reaction to the ongoing economic crisis. The second section of the report focuses on government initiatives as a consequence of the challenging global economic outlook. Most governments in Asia have concentrated their efforts and resources on the exhibitions and business events market and this summary reflects that focus. The final section provides a brief round-up of the situation for business publishers in Asia.
To order the report contact Kerry Wong, Researcher Kerry@bsgasia.com
Business Strategies Group Hong Kong http://www.bsgasia.com
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SITUATION: The headlines towards the end of last week were grim and the prognostications were downright apocalyptic. The unemployment rate hit 8.1% and we were reminded that this was the worst number in 26 years – in other words the worst since the recessions in the 1970s, 1980s and even the 1990s. The worst period was the 1980s at 8.5%. In other words the really remarkable thing about the unemployment rate is that it took this long to jump back to the level it is reaching today. This in no way diminishes the impact of unemployment that is heading towards a high that equals that of the 1970s but in tough times there is a need to maintain some perspective and more importantly recognize the lessons that can be learned from the past.
The job losses that an economy can suffer come in a variety of forms and they are not all alike in terms of their impact – short or long term. The worst of them is the structural job loss in which an entire industry sector sheds jobs due to some fundamental shift in the economy. It can be argued that the 1970s saw this kind of structural change as everything from manufacturing to the various service industries were reacting to the advance of globalization. This was a period in which whole sectors of the US economy changed and jobs were lost that would never return – regardless of how well the economy would later perform. There is a more benign form of unemployment in which people are taking advantage of new situations to leave the workforce for a period of time. This has happened when personal income rises enough for some parents to decide to stay home, some people to decide to return to school and some people simply decide to relocate, start new careers or to start new business.
The good news is that we are not experiencing the first kind of unemployment and the bad news is that we are not experiencing the second kind. The type of unemployment we are facing is that which matches the business cycle – job losses caused by an overall decline in the performance of the overall economy. This is not pleasant but unlike the structural motivation for joblessness the recovery can be swift when conditions change.
ANALYSIS: The current rate of unemployment could go higher and predictions range from 8.5% to as high as 10%. The problem with forecasting the ultimate rate is that what is really being forecast is the economy itself. The reason that companies have been laying people off is not that these companies no longer have a reason to exist in the US. The companies are reacting to poor demand and are cutting what they can to react to the reduction. When demand comes back – so do the jobs and in some cases the recovery of jobs will likely be swift as most of the companies that have been laying people off had been running pretty lean to begin with and will not be able to expand to meet demand without hiring.
The bottom line on employment recovery is demand. When the US economy starts to turn, the rate of unemployment will fall rapidly but just when this turn takes place remains a very big question. It will require a repaired banking system, a renewed level of consumer confidence and a renewed level of business confidence that demand factors are improving.
Source: Armada Corporate Intelligence
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Surge of innovation brings total patent portfolio to 80; nearly double the portfolio of two years ago. The company filed for 10 more patents in the past four months, and currently has 160 patent applications pending in the U.S. and other countries.
To read the full story go to: http://www.biia.com/industry_news.php
Source: Fair Isaac
FAIR ISAAC IS A MEMBER OF BIIA
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Australian firms have had a difficult start to the New Year and executives are anticipating the quarter ahead will be the most challenging yet.
The latest Dun & Bradstreet (D&B) Business Expectations Survey reveals that an increasing number of firms expect sales, profits, employment and capital investment to weaken further in the June 2009 quarter.
A full media release is attached for your interest and an overview of the outlook for the June 2009 quarter follows:
- Sales and profits expectations continue to dive, 53% of firms anticipate declining sales and 60% expect declining profits
- Selling price expectations have eased slightly however three in four businesses (74%) expect to raise prices in the June quarter
- The employment growth indicator has dropped to the lowest level recorded by the survey
- Capital investment expectations have declined further, with 10% of firms expecting to decrease capital investment
For further information contact Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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Which pricing strategies address falling demand in an economic downturn? The pundits generally say 'wake up, pay closer attention to customers, and be more targeted in your pricing.' Good ideas certainly, but what should you do specifically? Which price initiatives do, or do not, work?
From working with clients in industries which entered the recession early (e.g. print media, construction and commodity capital goods) we believe there are five key strategies, generally requiring intelligent use of tools, to combat falling revenues. The key to success, in all cases, is not to assume that market-facing management becomes magically smarter. You may need tools to change behaviors.
So, the answers occur in strategy + tool combinations. Most of them focus on understanding the customer buying decision, which is the driver of price sensitivity. Know the decision, and you can optimize your pricing.
To read the full story click on the attachment
Abbey Road Associates is a business consulting firm specialized in pricing and pricing strategy. We offer highly evidenced strategic and tactical pricing recommendations to companies across a wide range of industries. Recent assignments have been in the entertainment, telecom, computing, information services, software, consumer products and transportation industries. They have focused on new price structures, new product pricing, pricing processes, discounting reduction/improvement, new market penetration, bundle configuration and pricing, and countering price attacks.
Abbey Road Associates is a member of BIIA
http://www.abbeyroadassociates.com/
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The Vivisimo Partnership with WAND Helps Enterprise Search Customers Improve Relevancy of Search Results
Vivisimo (vivisimo.com), a leader in enterprise search, has signed a technology partnership with taxonomy specialist WAND, Inc. The agreement enables Vivisimo to offer WAND taxonomies to customers, expanding the conceptual search capabilities of Vivisimo’s recently introduced Velocity Search Platform™ 7.0.
About WAND, Inc.
Since 1995, WAND has developed structured multi-lingual vocabularies with related tools and services to power precision search and classification applications on the internet. WAND's Taxonomy library contains more than 40 domain specific taxonomies including 33 different industry vertical packages, jobs, travel, retail, medical, and general enterprise search topics with more domains being added on a regular basis. Although based in Denver, Colorado, WAND’s taxonomies are available in 11 global languages. For more information about WAND's taxonomies and services, please visit http://www.wandinc.com
To read the full story click on the attachment.
WAND is a member of BIIA
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D&B AUSTRALIA'S OPTIMISM INDEX IS NOW BELOW THE LOWEST LEVEL ON RECORD (1991)
To read the full story click on the attachment
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The differences between young and old, and high and low income households are becoming increasingly prevalent, with Dun & Bradstreet’s latest Consumer Credit Expectations Survey revealing that young Australians and high income households have significantly higher expectations for new credit applications and lower debt levels than their older and lower household income counterparts.
A full media release is attached for your review and an overview of key findings follows:
- Eighteen per cent of Australians expect to apply for new credit or a credit limit increase
- One in five (19%) households expect their level of debt to increase in the coming months
- Seventeen per cent of Australians anticipate a need to use credit cards to pay for bills they otherwise couldn’t afford
- One in four (25%) households are concerned about the amount of money they spent at Christmas and 7% expect they will struggle to pay their bills as a result
To read the full story click on the attachment.
For further information contact: Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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With China being the world's fastest growing economy that's increasingly opening up to the West, the demand by Western companies for quick and reliable information on potential Chinese partners is on the increase.
Graydon has responded to this demand with the launch of its China credit reports database.
Graydon prides itself on being a provider of high-quality credit reports and has partnered with a leading in-country Chinese credit information provider to deliver an easy to access, English language database of 300,000 Chinese corporations known to be of interest to overseas trading partners and exporters.
The contents are fully researched by using official public sector information sources and interviewing the subject companies. Data on the most active companies (130,000 - 150,000) is updated regularly.
This new service will make available the financials of over 90% of these Chinese corporations as well as providing recommended credit limits. Graydon offers competitive pricing.
China is the latest country to be added to Graydon's fast expanding International credit reports service which provides instant access to millions of online credit reports in over 130 countries.
Graydon International is one of the leading database information providers specialising in credit risk management. The company helps clients reduce the uncertainty of doing business by providing a complete, differentiated and high-quality package of credit risk management services. Graydon provides access to credit information and reports on companies in more than 130 countries worldwide.
The Graydon group is owned by Atradius, Coface and Euler Hermes, three of Europe's leading credit insurance organisations. http://www.graydoninternational.com
To find out more – call Graydon International on +44 (0)20 8515 1482 or email info@graydoninternational.com
GRAYDON is a member of BIIA
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In today’s challenging economy, "no guts, no glory" is the mantra for successful enterprises. Outsell's Information Industry Outlook report provides our view of what’s ahead for the information industry in 2009. The report contains:
- Five themes that successful companies will need to execute against in the coming year;
- 10 essential actions that Outsell believes are keys to navigating the current economy;
- "30 to watch" - a list of innovators and disruptors that we judge will have an impact on the information industry in the coming year, and the reasons why we selected them;
- Outsell’s growth forecast for the overall information industry, showing slower but fairly consistent growth overall despite the lagging News and B2B Trade markets;
- A discussion of “the myth of all things ad-based’ and chasing alternative revenue models.
Outsell's fact-based analysis is based on tracking over 7,000 firms in 12 information industry segments, and tracking spending by the three main industry funding sources: advertisers, enterprise users, and libraries. This offers an unparalleled perspective that crosses segments and helps publishers and information providers grow in a global, fast-paced digital environment. Price: US $495.00
To order contact: http://www.outsellinc.com
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Australian businesses are preparing for a challenging year, with executives anticipating further declines in sales, profits, employment and capital investment in the March 2009 quarter.
The latest Dun & Bradstreet (D&B) Business Expectations Survey reveals that 54% of firms anticipate declining sales in the March 2009 quarter, while 59% have the same expectation for profits. Meanwhile 20% of executives expect to have fewer staff in the March quarter than they did a year ago and 10% of firms expect to decrease capital investment.
A full media release is attached for your review and an outline of the outlook for the March 2009 quarter follows:
- Sales and profits expectations have dived further into negative territory, both down 59 points from the highs of the December quarter 2007
- Selling price expectations have climbed to the highest figure ever recorded by the survey
- The employment indicator is at an index of -14
- Capital investment expectations are down one point to an index of minus seven
For further information contact:
Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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NEW YORK (Standard & Poor's) Nov. 13, 2008. Actual principal write-downs on U.S. subprime residential mortgage-backed (RMBS) are substantially less than
expected, with 'AAA' bonds projected to see a write-down rate of less than 1%, according to a recent report published by Standard & Poor's Ratings Services.
For U.S. subprime RMBS certificates issued from the second half of 2005 through the first half of 2007, Standard & Poor's now projects losses on the underlying mortgages to reach $180 billion over their lives. But S&P projects that principal write-downs on the RMBS will be far less – a total of approximately $85 billion. So while losses to RMBS investors are expected to be significant, they will be much less than the losses generated by the RMBS collateral.
Source: Standard & Poor's RatingsDdirect
Standard & Poor's is a member of BIIA
To read the full story click on the attachmenT.
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The latest D&B Australian business expections survey indicates that the challenges of late 2008 look set to carry over into the New Year, with business executives anticipating further declines in sales and profits as credit market conditions, a volatile Australian dollar and inflationary pressures impact prospects for 2009.
Dun & Bradstreet’s latest Business Expectations Survey is attached for your interest and an overview of the outlook for the March quarter 2009 follows:
- Sales and profits expectations have dived further into negative territory, 54% of firms anticipate a downturn in sales while 58% have the same expectation for profits
- Selling price expectations have climbed to the highest figure ever recorded by the survey – 82% of executives have indicated that they will raise prices in the March quarter 2009
- Despite a one point rise on the December quarter of 2008, the employment growth index remains in negative territory
- Capital investment expectations are down one point to an index of minus seven
To read the full story click on the attachment.
For further information contact:
Danielle Woods | PR Manager Australia & New Zealand; Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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Credit Karma Provides Consumers With *Free* Access to Their TransUnion Credit Scores Thanks to TrueCredit.com
To read the full press release click on the attachment
http://www.transunion.com
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ATLANTA, GA November 23, 2008: Purlieu Solutions, LLC (Purlieu) of Atlanta, GA, a global provider of business opportunity and receivables management services,
announced today that it has acquired the USA business operations of Admerex Ltd (ASX:ADL) of Sydney Australia.
The terms of the transaction (for an undisclosed amount) calls for Purlieu to absorb all the CWX software clients in the U.S. market as well as acquiring its Atlanta GA sales and operations support center. In addition, the new Admerex 200 seat Savannah GA contact center has been acquired and Purlieu will begin immediately building up and increasing production from its current collections operations in order to take advantage of the increased capacity.
To read the full story click on the attachment.
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Chicago and Hong Kong, Nov. 19, 2008
Focusing on new ways to reduce lending risks, TransUnion today announced TrendInsight, a first of its kind solution in Hong Kong to help lenders anticipate and predict consumer spending and payment behaviors.
Through TransUnion's TrendInsight and its robust credit information and analytics, lenders have more predictive data to tailor offers to customers that best fit their attitudes and behaviors toward credit and debt payment. With TrendInsight, businesses can quickly react to a specific consumer event such as a new inquiry or tradeline. It also helps businesses to be more proactive by anticipating changes in patterns of activity for credit scores, increases in credit inquiries or credit utilization. The solution helps maximize return on investment in the collections arena with accurate contact information and delinquency data to help securing past-due payments.
"TransUnion's TrendInsight provides lenders with a new level of confidence in accessing and predicting payment risks based on consumer behaviors," said Lawrence Tsong, president of TransUnion's East Asia operations. "TrendInsight helps improve performance throughout the customer lifecycle to effectively mitigate risks, quickly locate customers, prioritize collections accounts, anticipate customer behavior and build loyalty with them."
TransUnion's TrendInsight can be implemented with its Portfolio Review to analyze debt portfolios by credit risk model score band. This helps to evaluate the risk presented by each customer in the portfolio at that point in time and determine the best appropriate actions.
About TransUnion
As a global leader in credit and information management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion employs more than 3,600 employees in 25 countries on five continents.
http://www.transunion.com
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The European Commission has put forward a proposal for a Regulation on credit rating agencies. This proposal is part of a package of proposals to deal with the financial crisis and adds to Commission's proposals on Solvency II, Capital Requirements Directive, Deposit Guarantee Schemes and accounting. The new rules are designed to ensure high quality credit ratings which are not tainted by the conflicts of interest which are inherent to the ratings business.
Question: Who will regulate the Regulators?
To read more click on the attachment.
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Australian executives are expecting further economic turbulence in the New Year as credit market conditions, a volatile Australian dollar and inflationary pressures impact profit and investment prospects for 2009.
A full media release is attached and an overview of the outlook for the March quarter 2009 follows:
- Sales and profits expectations have dived further into negative territory, down 50 and 49 points respectively from the highs of the December quarter 2007
- Selling price expectations have climbed 17 points to an index of 79, the highest figure ever recorded by the survey
- Despite a three point rise on the December quarter 2008, the employment growth index remains in negative territory
- Capital investment expectations are up one point an index of minus five
For further information or to arrange an interview please contact Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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Dun & Bradstreet Australia has acquired Australia's leading credit decisioning business, Decision Intellect. The acquisition will further fuel Dun & Bradstreet's growth in the consumer credit reporting market while adding to its already dominant commercial credit services.
Decision Intellect provides credit decisioning tools and services to Australian credit providers, enhancing the ability of those organisations to make immediate and accurate credit decisions.
The company's unique market position is built on its capacity to ensure lenders have access to a multi-bureau environment. This is increasingly important for credit providers as the domestic economy and credit availability tightens, defaults rise and new credit reporting laws are considered which will require lenders to consider a broader range of data in an environment where consumers are demanding quicker response times.
The Dun & Bradstreet acquisition responds to these broader trends by providing it with the ability to ensure credit providers now have improved access to multi-bureau data in an automated environment. The introduction of comprehensive credit reporting will further strengthen this offer as credit providers will be seeking seamless access to, and analysis of, the newly available data.
Decision Intellect has historically focused its services on assisting customers with the decisioning tools of Australia's alternative credit bureau, Veda Advantage. Its founders were former Veda staff who left in 2004 to establish their own specialised consulting business.
However with the emergence of the D&B Consumer Bureau, Decision Intellect became increasingly involved in consulting to credit providers on best practice decisioning processes which they believed required access to the unique adverse data held by D&B. They also realised the need for more sophisticated decisioning products to fully benefit from the multi-bureau environment. This lead to the development of their Inteflow product suite.
Dun & Bradstreet CEO Christine Christian believes the acquisition reflects the changing nature of Australia's consumer credit market in which access to unique data and the ability to use it quickly is increasingly important for credit providers as they seek to ensure the free flow of credit in volatile times.
"The credit market has changed dramatically over the last twelve months. The days of easy credit and lots of it have disappeared to be replaced with credit rationing, higher costs and a lower risk tolerance", said Ms Christian.
"However we know the free flow of credit is critical to the economy and therefore credit providers need access to improved credit data with the ability to make decisions based on that data quickly. This acquisition ensures credit providers now have a greater ability to take advantage of a multi-bureau environment and maintain high quality credit decisions."
Decision Intellect CEO Vaughan Dixon believes the acquisition by Dun & Bradstreet is the perfect fit in a market which is becoming increasingly volatile and reliant on sophisticated credit decisioning tools.
"When we started our business the credit reporting and decisioning market was a very different place. There was one core data provider and a very benign credit market. However the environment has changed to one where there is an increasing need for new insight and a growing awareness of the benefits of a multi-bureau environment", said Mr Dixon.
"Dun & Bradstreet's acquisition of Decision Intellect is a unique demonstration that they have fundamentally changed the market and continue to drive its progress."
Decision Intellect will continue to operate under its own brand and provide customers with its full suite of products and services. It will also continue to be run by its founding principals. However the acquisition will mean customers will now have an improved ability to take advantage of the multi-bureau environment.
The acquisition is another step in Dun & Bradstreet's plans to double the size of its business over the next four years driven in large part by its Consumer Bureau and a changing credit market which is placing renewed emphasis on conducting more detailed credit analysis.
For further information please contact: Danielle Woods; D&B PR Manager Australia & New Zealand
(02) 8270 2926
About D&B
D&B is the world's leading provider of business-to-business credit, marketing and purchasing information and receivables management services. D&B manages the world's most valuable commercial database with information on more than 130 million companies.
Information is gathered in 193 countries, in 95 languages or dialects, covering 186 monetary currencies. The database is refreshed more than one million times daily as part of D&B's commitment to provide accurate, comprehensive information for its more than 150,000 customers.
The Australasian operations were bought out by the senior management group in August 2001. It was the first MBO of a wholly owned subsidiary in D&B's history worldwide.
Today Lazard Carnegie Wylie owns an approximate 90% stake in DBA and the local management team a 10% stake.
Strategies for future growth include developing DBA's commercial and consumer credit referencing business; expanding its receivables management outsourcing business; maintaining its lead in the development of unique credit and risk scoring products; and developing new products specifically tailored to the Australasian market. DBA currently employs over 500 people in Australia and New Zealand.
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Sharma Showcases S&P’s Commitment to High Quality, Independent and Transparent Credit Ratings in Testimony to House Committee
Washington D.C. – October 22, 2008 – In testimony today before the United States House Committee on Oversight and Government Reform, Deven Sharma, President of Standard & Poor’s (“S&P”), detailed S&P’s commitment to increasing transparency and restoring investor confidence to the capital markets, the role of S&P’s ratings in evaluating creditworthiness, and lessons learned from recent market events.
To view the press release click on the attachment
To view a copy of Mr. Sharma’s testimony, visit http://www.standardandpoors.com.
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20 October 2008 [Singapore] – Experian, the global information services company, has acquired a 40% minority stake in Singapore’s 30-year-old credit and business information bureau, DP Information Group (DP Info).
To read the entire press release click on the attachment.
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LexisNexis® outlined its vision for the integration of ChoicePoint® as part of its transformation, following the recent completion of the $4.1 billion purchase of ChoicePoint by LexisNexis' parent company, Reed Elsevier.
The integration of ChoicePoint represents a major milestone in LexisNexis' transformation into the world's leading provider of innovative, customized content, analytic and workflow solutions for legal and risk professionals.
ChoicePoint, a provider of decision-making technology and information, will become part of the LexisNexis Risk & Information Analytics Group. The combination catapults LexisNexis to a leadership position in the rapidly-growing global risk information market, already estimated to be $15 billion. The newly integrated business unit will also offer significant benefits to legal customers. The public records offered by LexisNexis will also provide an unsurpassed resource for both corporate and private practice legal professionals.
In conjunction with the integration of LexisNexis announced Three Key Strategic Initiatives each developed and implemented in close collaboration with customers:
Deliver Tomorrow's Risk Information Analytics Solutions with the Addition of ChoicePoint.
Help Legal Professionals Achieve Excellence in the Practice and Business of Law.
Rapidly Expand in Key International Markets
To read the full story click on: http://www.lexisnexis.com/media/press-release.aspx?id=1081.asp
Source: LexisNexis
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Outlook for December quarter 2008
- All indexes except selling prices remain in negative territory
- Selling price expectations have climbed 11 points to an index of 62, the highest figure
recorded since June 1988
- Sales and profits expectations continue to fall, down 42 and 43 points respectively from
the highs of the December quarter 2007
- Employment growth expectations are at the lowest point since June 1991
- Capital investment expectations are up one point an index of minus six
Tightening credit market: Seven in ten (69%) executives anticipate that a tightening credit market will have a negative impact on operations!
To read the full release click on the attachment.
For further information please contact:
Damian Karmelich – D&B Director of Corporate Affairs
P: 03 9828 3233 / 0407 772 548
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CRIF, a worldwide leader in credit reporting, business information and decision support systems, announced it has named Larry Howell Chairman of the company’s International Advisory Board. In addition, CRIF announced that Mr. Howell will serve as Chairman of the Board for Teres Solutions, a top U.S.-provider of lending automation software to credit unions and financial institutions, which CRIF acquired in July 2008. In his new roles, Mr. Howell will help both organizations meet growing demand for their credit and lending solutions around the world.
To read the entire release please click on the attachment
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TransUnion announced the appointment of Andrew Knight to president of its international operations. Knight takes the place of Ralph Sorice who retired following a 25-year career at TransUnion. Knight will report directly to Bobby Mehta, president and CEO of TransUnion.
Prior to his new role, Knight was group CEO of TransUnion's South Africa operations, growing it into one of the most successful operations in the company’s international portfolio. Knight joined TransUnion in 1994 as managing director of its credit bureau operations. Before that, he held several financial management positions throughout South Africa.
To read the full story click on the attachment!
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NEW YORK, Sept. 17, 2008 – The New York Times Company and breakingviews.com, an online financial commentary publication, announced today that a breakingviews-branded opinion column will appear in all weekday editions of The New York Times and the International Herald Tribune beginning Sept. 23.
It will also appear online at NYTimes.com/business and IHT.com. The New York Times will be the exclusive U.S. newspaper to carry the column.
For further information contact:
For Breakingviews.com
United States: Rob Cox, +1 (646) 467 5532; rob.cox@breakingviews.com
Europe: Hugo Dixon, +44 20 7426 4518; hugo.dixon@breakingviews.com
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Executives anticipate further economic challenges ahead
Australia’s business executives are anticipating a further decline in economic conditions in the December quarter as high fuel prices, continued inflationary pressures and a cut back in consumer spending hurt sales and profit margins.
A full media release is attached for your review and an overview of the outlook for the December quarter follows:
- All indexes except selling prices remain in negative territory
- Sales and profits growth expectations continue to fall, down 42 and 41 points respectively from the highs of the December quarter 2007
- Employment growth expectations are at the lowest point since June 1991
- Capital investment expectations are unchanged at an index of minus seven
- Selling price expectations have climbed six points to an index of 57
For further information or to organize a time to speak with Christine Christian, D&B’s CEO, please contact: Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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US MORTGAGE LOAN DELINQUENCY RATES RISE FOR THE SIXTH STRAIGHT QUARTER, UP NEARLY 9 PERCENT FROM THE PREVIOUS QUARTER
CHICAGO, Sept. 8/PRNewswire/ -- TransUnion.com released today the results of its analysis of trends in the mortgage industry for the second quarter of 2008. The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data to be released on TransUnion's Web site http://www.transunion.com/
To read the full text, please click on the attachment
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A record of court actions against a company or its directors should be seen as an important indicator of likely business failure, according to new research by leading credit reporting agency Dun & Bradstreet (D&B).
D&B’s research, which reveals that a company is eleven times more likely to fail if it has a court action against it and eight times more likely to fail if one of its directors has a court action against them, comes as business failures data for first half of 2008 shows an eleven per cent increase on the same period in 2007.
A full media release is attached for your review and an overview of key findings follows:
- a business is 8.3 times more likely to fail when a director court action is present – the llikelihood of failure escalates to 11.1 times if the value of the court action is more than $10,000
- the risk of a business venture failing doubles for companies with a director who has been on the board of a previously failed company
- a company is eleven times more likely to fail if it has a court action against it - the likelihood of failure escalates to 15.2 times if the value of that court action is more than $5,000
For further information or to organize a time to speak with Christine Christian, D&B’s CEO, please contact Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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One year into the credit crunch, BIIA member Hugo Dixon, Chief Editor and Founder of Breakingviews.com wrote his commentary called 'A System run Amok'. The contents of this book has been made available to BIIA members and readers courtesy Breakingviews.com . We thank Hugo Dixon for this wonderful gift.
Preface
One year after the onset of the credit crisis, it has become clearer than ever that the financial system has run amok. The crisis has revealed how bankers have too often taken massive bets – normally with other people’s money – without paying adequate attention to the risks. When trouble hit, the regulators have rushed to the rescue, cutting interest rates and bailing out banks. Ordinary savers have lost out, taxpayers may end up footing the bill and the evil of inflation has been allowed to seep back into the global economy.
The old Marxist critique that, in capitalism, the profits are privatized and the losses are socialized is telling. The solution, however, is not to kill the financial system. Warts and all, the modern world of finance still does create value. But the other extreme – do nothing – isn’t the solution either. The answer is to remove as many warts as possible while still accepting there will be blemishes. This book – which contains articles written as the crisis unfolded – suggests a series of ways of doing just that.
Hugo Dixon
Editor-in-Chief
breakingviews.com
July 2008
CLICK ON THE LINK TO READ THE FULL STORY: : http://www.breakingviews.com/~/media/Files/ebooks/Asystemrunamok.ashx
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Dun & Bradstreet’s latest Business Expectations Survey shows that economic conditions are expected to deteriorate further in the December quarter as continually escalating costs and poor sales results hurt the profits of Australian companies.
A full media release is attached for review and an overview of the outlook for the December 2008 quarter follows:
- All indexes except selling prices remain in negative territory
- Sales and profits growth expectations continue to fall, down 43 and 41 points respectively from the highs of the December quarter 2007
- Employment growth expectations are at the lowest point since June 1991
- Capital investment expectations are up one point to an index of minus six
- Selling price expectations have climbed four points to an index of 54
For further information contact:
Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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The pressure on Australian businesses continues with payment terms at a seven year high and almost four weeks past the standard term.
The latest figures in Dun & Bradstreet's (D&B's) quarterly trade payment analysis reveal that payment terms across all industries are at 55.6 days, an increase of three days since the June 2007 quarter.
Private companies are now slower to pay than their public counterparts however the difference between the two groups has narrowed. Private companies averaged 60.9 days to settle accounts in the June quarter (double the standard term) while public companies took 58.0 days
Suppliers of big business are facing the greatest burden as those companies with 500+ employees continue to be the worst payers – they averaged 60.7 days to settle accounts in the June 2008 quarter
Electricity, Gas and Sanitary Services is slowest to pay at 58.7 days, following an increase of more than three days on the same period last year. Meanwhile the Agriculture sector continues to be quickest to pay and is the only industry to pay its bills in less than 50 days
At a state level NSW has been joined by Victoria in taking the longest time to pay bills. Tasmania continues to be the quickest paying state however its 3.5 day increase on last year has pushed it above the 50 day mark.
For further information contact:
Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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AUSTIN, Texas and BOLOGNA, Italy – July 1, 2008 – CRIF, a worldwide leader in credit services, and Teres Solutions, Inc., one of the top three providers of direct and indirect lending software to credit unions and financial institutions, today announced that CRIF has acquired Teres Solutions. As part of the agreement, Teres Solutions will operate as a wholly-owned subsidiary of CRIF. Further terms of the agreement were not disclosed.
To read the full story click on the attached Press Release
For further information, visit http://www.crif.com/en/PressReleases/PressReleases/.chn
http://www.crif.com
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TransUnion announced on June 25th the launch of Personal Loan Score, the industry's first credit scoring tool designed to help businesses reduce delinquency of unsecured loans for the Hong Kong market.
This scoring solution assists businesses in predicting future loan performance and assesses the value of a loan over the next 12 months. By providing innovative evaluation and insight into potential customers' credit scores, the Personal Loan Score can help Hong Kong's businesses make more informed and strategic decisions about attracting the right prospects. Using this score, businesses can manage their risk exposure with increased accuracy, which helps to drive revenue and decrease collection costs.
"A proven scoring system -- geared toward mitigating unsecured loan risk -- is a powerful tool for businesses to assess initial loan applications," said TransUnion's Lawrence Tsong, managing director. "We expect the Personal Loan Score to be the standard for credit risk assessment related to unsecured loans in the Hong Kong market."
TransUnion's Personal Loan Score is specifically tailored for Hong Kong, a market where the quantity of credit data continues to evolve. Now, businesses will be able to enhance modeling for customer acquisition and segmentation practices, which will add value to current operation procedures and business processes.
"Evaluation of consumer lending habits has been at the forefront of the industry, with businesses wanting the necessary tools to make strategic, profitable decisions throughout the customer lifecycle," said Tsong. "With TransUnion's Personal Loan Score, businesses will gain invaluable insight into the credit lifecycle, providing actionable results to minimize future delinquencies."
For further information contact Michael Lo at michaellohk@transunion.hk
About TransUnion
As a global leader in credit and information management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion has employees in 25 countries on five continents.
http://www.transunion.com/
TransUnion is a member of BIIA
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TransUnion.com Quarterly Credit Card Analysis Reveals That National Credit Card Debt and Loan Delinquencies Drop For First Time Since Beginning of 2007
Chicago, June 18, 2008 – TransUnion.com released today the results of its analysis of trends in the credit card lending industry for the first quarter of 2008. The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data that may be found on TransUnion’s Web site.
FOR DETAILS CLICK ON THE ATTACHMENT
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Australia’s business executives are anticipating a bleak September quarter as high fuel prices, continued inflationary pressures and slowing consumer spending hurt sales and profit margins. D&B's latest Business Expectations Survey is attached for your review.
The following is a summary of the outlook for the September quarter:
- All indexes except selling prices have entered negative territory
- Sales and profits growth expectations have fallen sharply, down 33 and 29 points respectively from December quarter highs
- Employment growth expectations are at the lowest point since June 1991
- Capital investment expectations have dropped 11 points to an index of minus six
- Selling price expectations have climbed five points to an index of 50
If you require additional information contact Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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Economic conditions are expected to deteriorate with a rapid slowdown in activity in the September quarter as global turbulence and domestic inflationary pressures buffet Australian businesses. The latest Dun & Bradstreet (D&B) Business Expectations Survey is showing a steep decline in expectations for sales, profits, employment growth and capital investment, with all of these indexes now in negative territory.
A full media release is attached for your review and an overview of the outlook for the September quarter follows:
- All indexes except selling prices have moved to negative territory
- Expectations for sales and profits growth have fallen sharply, down 31 and 27 points respectively from December quarter highs
- Reaching the lowest point since the December quarter 1992 the outlook for employment growth is down 16 points
- The outlook for capital investment has dropped 11 points since the previous quarter to an overall index of minus five
- Expectations for selling prices have risen slightly but remain lower than four of the last five quarters
For additional information contact:
Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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Veda Advantage data, released on May 6th, shows Australia’s overall demand for credit is slowing in the first quarter of calendar year 2008, with credit card and personal loan enquiries down 0.2% when compared to the same period last year. Personal loan enquiries were down by 2.3% compared year-on-year with 2007, while credit card enquiries rose by 1.5%. Further Veda Advantage analysis shows families are spending a significant amount of their income on debt repayments; with 1.3 million Australians spending more than half their gross household incomes on debt, and 1.8 million Australians spending more than 40% of their income on repayments. Thirty-one per cent of Australians live in households that spend 30% of their income on debt repayments. Analysis of data also reveals exposure to debt increases with income levels.
http://www.vedaadvantage.com
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On April 22, 2008 Ms Vickie A. Tillman, Executive Vice President, Standard & Poor's Credit Rating Services testified before the Committee on Banking, Housing and Urban Affairs.
She provided an update on the 27 steps announced by S&P in February to further manage potential conflicts of interest, strengthen the ratings process, and better serve the markets.
To read the entire testimony, please click on the attachment.
Source: http://www.mcgraw-hill.com/
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D&B Australia reports a dramatic jump in the number and value of corporate defaults:
- A twelve per cent jump in the number of debts referred for collection between January and December of 2007
- A 300% spike to more than A$26,000 in the value of debt referred in the Banking, Insurance and Finance sector
- A 23% jump in the number of low value debts referred for collection
"The increase in the value of debt being referred suggests that some businesses are facing significant cash flow difficulties", stated Ms Christian, Managing Director of D&B Australia
To read the full story please click on the attachment http://www.dnb.com.au
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Veda Advantage study finds 75% of Australians worried about ability to repay bills and calls for broader credit reform to address Australia’s growing debt divide
New Veda Advantage research, released March 12th, 2008, suggests debt repayments continue to be a major cause of worry to Australians, despite a small decrease since the last survey – with 75% of Australians in debt worrying about their ability to make financial repayments over the next 12 months. For further details contact: http://www.vedaadvantage.com
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The latest Dun & Bradstreet Business Expectations Survey is showing early signs of success in the fight against inflation. A full media release is attached. Here are the key findings:
Outlook for June quarter 2008
- Expectations for selling prices are down five points on last months survey
- The outlook for capital investment remains weak with the overall index at 2 per cent
- Expectations for sales and profits growth have fallen, sales are down five points and profits have dropped 12 points from December quarter highs
- The outlook for employment growth has returned to negative territory
Issues expected to influence operations in the June quarter 2008
- Concerns regarding interest rates remain unchanged since the previous survey. Thirty nine per cent of executives expect interest rates to be the most important influence on their business in the quarter ahead
- Wages growth concerns have overtaken fuel prices, with twenty seven per cent of executives expecting wages growth to be the most important influence on their business in the quarter ahead. An increase of 14 per cent since December, this index has reached its highest level in eight months
- Twenty six per cent of executives expect fuel prices to be the most significant influence on operations in the coming quarter, down 5 per cent on the previous survey
For further information or to arrange an interview with D&B CEO, Christine Christian or economic consultant, Dr Duncan Ironmonger please contact me on 02 8270 2926 / 0417 270 130.
Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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ICRA Management Consulting Services Limited (IMaCS), a wholly owned subsidiary of ICRA Limited, and D&B Philippines (D&BP) have signed a MOU to offer advisory / consulting services in the Philippines.
The tie-up will enable both parties to pool their expertise and jointly offer advisory / consulting services to banks, corporations, government agencies, investors, and multi-lateral agencies. IMaCS and D&BP bring complimentary strength to the relationship, with D&BP having in-depth knowledge of the Philippines, and IMaCS considerable knowledge of multiple domains and practice areas. Source: BIIA
http://www.imacsindia.com/
http://www.dnb.ph
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Dun & Bradstreet has acquired a stake in FCS OnLine bringing together two of Australia’s most powerful identity verification and credit reporting databases.
The move provides both Dun & Bradstreet and FCS OnLine customers with the ability to credit check and confirm consumer identities, in line with the Federal Government’s new Anti-Money Laundering laws, in one transaction.
To read the full story please click on the attachment
www.d&b.com.au
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Inflationary pressure persists and interest rate and petrol price concerns continue to increase according to figures from the latest Dun & Bradstreet (D&B) Business Expectations survey.
A full media release is attached for your review and a summary of key findings follows:
expectations for selling prices have increased, with 62 per cent of firms anticipating their prices will be higher in the June quarter than a year earlier
expectations for sales and profits growth have fallen, 36 and 33 per cent of executives respectively expect increases in these indexes
thirty nine per cent of executives expect interest rates to be the most important influence on their business in the quarter ahead, an increase of 13% per cent since the previous survey
executive concerns regarding the credit market remain high, with 60 per cent expecting a tightening market will have a negative impact on operations
thirty one per cent of executives expect fuel prices to be the most significant influence on operations in the coming quarter, up 4 per cent since the previous survey.
For further information or to organise a time to speak with Christine Christian, D&B's CEO, contact Danielle Woods on 02 8270 2926 / 0417 270 130.
http://www.dnb.com.au
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The BIIA Credit Management & Information Forum 2008 took place on January 23rd 2008 at the Marriott Hotel in Hong Kong. It was a great success and BIIA gives credit to the over 70 attendees representing the user community (credit management with 26% of attendees), members of government institutions (8%), academia (8%) and information executives and professionals (58%).
BIIA thanks its sponsors: Atradius Credit Insurance, D&B Asia Pacific, TransUnion, D&B Australasia and Outsell Inc. The following organizations supported the Forum 2008 by providing speakers and access to their mailing lists and website: ICISA, IFC (World Bank Group), Global Trade Review and FCIB China.
Participants discussed a variety of issues concerning a new world of risk caused by the credit crunch. Dr. Hans Belcsak, President of Rundt Associates (country risk specialists) stated that the financial services sector is still hemorrhaging, with losses of unknown magnitude still in the pipeline. This has created a crisis of confidence and is starting to bite into the trade credit sector in the US.
John Rumpler, Group General Manager, Credit & Surety; QBE Insurance (Australia) Limited and President of the International Credit Insurance and Surety Association led a panel of experts to discuss the effects of the current credit crunch on the trade credit and the implications on information services: “Businesses experiencing an increase in payment delays and bankruptcies are on the rise. The crisis has not quite reached Asian markets, but it will eventually. It will become more difficult to collect trade receivables; export credit insurers will experience a rise in claim volume. For the trade credit and credit information industry, and credit managers, the credit crunch is an opportunity to engage governments and regulators in improving credit information, transparency and disclosure, to support risk assessment. However, let’s not forget that it will be a challenge in itself and more so we will all be facing challenges as the fall out starts to really develop.”
BIIA will provide excerpts of presentations and discussions in its monthly newsletters.
Presentations have been posted on the ‘Industry Library’ section of http://www.biia.com = http://www.biia.com/library.php#167
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Dun & Bradstreet's latest Business Expectations Survey will be released tomorrow and it shows that the New Year looks set to challenge Australian businesses. The key survey findings are below and a full media release is attached for your review.
Key Findings:
Twenty six per cent of executives expect interest rates to be the most important influence on their business in the quarter ahead
Executive concerns regarding the credit market have increased, with 63 per cent expecting a tightening market will have a negative impact on operations
Twenty seven per cent of executives expect fuel prices to be the most significant influence on operations in the coming quarter
Expectations for selling prices remain high, with 59 per cent of firms anticipating prices to be higher in the March quarter than a year earlier
Expectations for sales and profits growth have fallen for the first time in four quarters
Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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October 2007
Corporate Governance and Related Credit Issues for Indian Family-Controlled Companies
Summary opinion
Family-controlled firms often have specific characteristics. Their strengths can include a long-term management perspective and a cautious approach to risk to avoid destroying family wealth – as well as an ability to act quickly. However, family control can also raise specific corporate governance concerns in areas including adaptability, leadership transition, checks and balances and transparency.
Family companies dominate India’s corporate landscape. Moody’s and ICRA have surveyed certain corporate governance practices of 32 Indian companies in 16 prominent family groups, covering a broad cross-section of Indian industry.
These companies have responded well to the opportunities available in the fast-growing and liberalizing economy of modern India. However, the lack of a meaningful “control group” of non-family controlled companies means that the survey has not been able to draw conclusions on how the family controlled-business model in India compares against one based on more widespread share ownership.
Although Indian corporate governance practices continue to improve, this largely reflects regulation of listed companies, particularly with regard to certain “checks and balances”. These include the composition of the board of directors and the operations of audit committees. Although there are material residual issues regarding checks and balances, these are generic to corporate India and not isolated to family companies – for example, the lack of activist shareholders and a business and cultural environment that does not permit hostile mergers and acquisitions.
ICRA Contacts:
Mumbai 91.22.3047.0006
Anjan Ghosh, General Manager
Gurgaon 91.124.4545.370
Naresh Takkar, Managing Director
http://www.icra.in/aspx/Corporate-Governance.pdf
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The latest D&B National Business Expectations Survey shows…
Outlook for March quarter 2008
- Sales and profits growth expectations have fallen for the first time in four quarters
- The outlook for employment growth has returned to positive territory following negative
expectations for the December quarter
- The capital investment outlook is just inside positive territory
- Expectations for selling prices remain high – 60 per cent of firms expect selling prices to
be higher in the March 2008 quarter than a year earlier
Interest Rates
- Interest rate concerns remain high with 25 per cent of executives expecting rates to be
the most important influence on their business in the quarter ahead
Tightening Credit Market
- Executive concerns regarding the tightening credit market remain unchanged, with 57
per cent expecting it will have a negative impact on operations
Pre-Christmas Spending
- Pre-Christmas spending is expected to have a greater positive impact than in 2006, with
19 per cent expecting a small positive impact – this compares to an expected 8 per cent
positive impact in 2006
Petrol Prices
- Recent movements in petrol prices have had a negative impact on 64% of businesses
- Nineteen per cent of executives expect fuel prices to be the most significant influence
on operations in the coming quarter
Actual for September quarter 2007
Growth in sales was the highest in three and a half years
Profits growth entered positive territory after six negative quarters
Despite being four points below expectations, capital investment growth was positive
Employment growth returned to positive territory after one negative quarter
Selling price rises were four points below expectations
For further information click on the attachment or contact:
Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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Veda Advantage is calling on the Federal Government to broaden the credit reporting regime which is currently under review by the Australian Law Reform Commission, so that borrowers and lenders can have access to the best information, including current amount owed and payment history.
This latest research follows a Veda Advantage study last month that revealed that four in five Australians in debt now worry about their ability to make repayments over the next 12 months, and that close to 2 million Australians admit finding it difficult to make credit repayments.
Erica Hughes, Veda Advantage General Manager of Information, Services and Solutions said Veda Advantage is concerned about the credit cycle over the coming year; “Veda data reveals that defaults have significantly increased in the past 12 months. We are concerned that families and individuals who are experiencing financial hardship may have overcommitted by misrepresenting their financial position on their credit application.
“Privacy laws prevent lenders seeing how much a borrower currently owes. With our study also showing four out of five families are worried about their ability to make payments over the next 12 months, we are concerned that lenders are not getting the best credit information that would allow them to see when a borrower is overcommitted.”
“As Australia enters a tightening credit cycle, lenders need access to the best information in order to manage credit risk and help protect potential borrowers. We are calling on the Government to change the law as a matter of urgency,” she said.
Veda Advantage’s research looked at Australians’ attitudes and behaviour towards credit management. More than 1000 individuals over the age of 18 years were interviewed across all demographics, age and regions of Australia.
TO READ THE FULL STORY CLICK ON THE ATTACHMENT OR CONTACT http://www.vedaadvantage.com
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According to a latest report by D&B, Australian consumers are getting into more trouble with debt than ever before with young people in particular experiencing debt stress.
The full media release can be read by clicking on the attachment below. The key findings are as follows:
More than half of all debtors are younger than 35
Many consumers are defaulting on low-value (less than $500) amounts of debt
Aussie males are more likely to default on credit promises than women
Men are less likely than their female counterparts to repay their debt
State of Victoria consumers account for the highest proportion of debt referred for collection (40%); NSW follows with just under 30%.
For additional information contact:
Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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Almost ten per cent of Australian companies are rated a very high risk of experiencing financial distress or insolvency in the next twelve months, according to research released today by leading credit reporting and collections agency Dun & Bradstreet (D&B).
To read the full story please click on the attachment.
For further information please contact:
Danielle Woods
PR Manager
D&B Australia
W: +61 (0)2 8270 2926
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Credit crunch impacts pre-Christmas credit plans
Low-income and young Australians feel the credit squeeze
To read the full story click on the attachment
Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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The outlook for the New Year is set to be influenced by key decisions this month, with the impact of interest rates and the outcome of the Federal election the central concerns of business executives for the quarter ahead.
For full media release iplease click on the attachement.
The following is an overview of key findings follows:
Outlook for March quarter 2008:
Sales and profits growth expectations have fallen for the first time in four quarters
The outlook for employment growth has returned to positive territory following negative expectations for the December quarter
The capital investment outlook is negative for the first time in four quarters
Expectations for selling prices have dropped 5 per cent but remain high, with 59 per cent of firms expecting prices to be higher in the March 2008 quarter than a year earlier
Tightening Credit Market
Fifty seven per cent of executives expect the tightening credit market will have a negative impact on their business
Interest Rates
Twenty nine per cent of executives consider interest rates to be the most important influence on their business in the quarter ahead
Election Outcome
Twenty nine per cent of executives expect the outcome of the election to be the most important influence on their business in the quarter ahead
For further informaton please contact: Danielle Woods | PR Manager Australia & New Zealand
woodsd@dnb.com.au | w http://www.dnb.com.au
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BIIA HAS INVITED A NUMBER OF HIGH LEVEL CREDIT AND INFORMATION SPECIALISTS FOR ITS 2008 CREDIT INFORMATION AND INFORMATION FORUM
The purpose of the BIIA CREDIT MANAGEMENT AND INFORMATION FORUM 2008 is to inform users of business information, regulators, government officials, public sector information institutions and members of academia, of current economic trends and risk factors which impact cross border trade finance and open trade credit transactions. Discuss the implications of increased risk on information and inform users of developments concerning information availability and reliability in emerging markets.
The Sub-prime Mortgage crisis may well serve as a stark reminder that working with imperfect information contains substantial risk. This unfortunate episode is far from over and if the fragility persists, the more the credit crunch will move beyond sub-prime loans, it will mean sharply increased credit charges, slashed borrowing limits, difficulties for small and medium-sized companies to maintain their bank credit lines. Hence there is a need to discuss new challenges for credit management and new demands on information.
BIIA invites credit experts and intensive users of credit information: experts in trade finance, export credit insurance and trade credit and information experts responsible for credit information and credit rating services. There will be a special session on China. BIIA has invited government officials responsible for economic development, the credit infrastructure and public sector information to speak at the BIIA Forum.
The BIIA Forum is a User Oriented Neutral Forum. It is international in nature and the conference language is English. BIIA has conducted two Forums since its foundation in 2005.
For conference details please click on the attachment.
To learn more about BIIA please visit http://www.biia.com. For conference details contact: Joachim C. Bartels ieijcb@attglobal.net
Business Information Industry Association Asia Pacific - Middle East Ltd. 1101 Wilson House, 19-27 Wyndham Street, Central, Hong Kong Telephone: +85225256120; Fax: +85225256171; E-mail: info@biia.com; http://www.biia.com
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Dun & Bradstreet’s latest Business Expectations Survey shows that the outlook for the quarter ahead is negatively affected by signs of inflationary pressure and concerns regarding interest rate rises.
A full media release is attached.
The outlook for December quarter 2007 can be summarized as follows:
Sales growth expectations have surged to the highest level in almost three years
Profits growth expectations are the best in more than two years
The outlook for capital investment and employment growth is weaker than the previous quarter
Expectations for selling prices are up 4% from the previous quarter. 62% of firms expect their prices to be higher than in the December 2006 quarter, while 4% expect them to be lower
Interest Rates
Thirty nine per cent of executives now consider interest rates to be the most important influence on their business in the quarter ahead
This is an increase of 24% since June, to the highest level of concern since December 2005
For additional information contact:
Danielle Woods | PR Manager Australia & New Zealand
Dun & Bradstreet Australia | Level 16, 383 Kent Street, Sydney NSW 2000 |
t +61 2 8270 2926| m +61 417 270 130 | e woodsd@dnb.com.au | w http://www.dnb.com.au
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Enhancing the depth and quality of credit reporting information for millions of credit active consumers in Hong Kong, TransUnion today announced the new analytical tool bureau credit characteristics, which will help Hong Kong financial institutions and businesses in determining credit risk. The use of credit characteristics is the next analytical step for financial institutions to further maximize the benefits of both positive and negative credit information for effective portfolio management.
To read the full story click on the attachment.
http://www.transunion.com
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