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Direct Line has rejected a £3.3bn takeover offer from its bigger UK rival Aviva , the second time it has rebuffed a suitor this year. Aviva, the UK’s largest insurer, said it offered 250p a share, made up of cash and Aviva shares, in a non-binding proposal on 19 November. This was rejected by Direct Line on Wednesday, which has declined to engage further with Aviva, according to the statement. The announcement came after markets shut. Aviva’s share price closed 1.6% higher at 489.5p, while Direct Line shares slipped by 0.2% to 158.7p. Its share price has fallen by 14% this year, giving the company a market value of £2.1bn. By contrast, Aviva’s shares are nearly 13% higher, valuing it at £13.2bn. “Aviva believes that an acquisition of Direct Line would be consistent with its strategy to accelerate growth in its UK businesses and further pivot the group towards capital-light business lines,” the insurer said. It added that it would create a more efficient platform from which to serve existing and new customers, and would allow Direct Line customers to “benefit from Aviva’s breadth, scale and financial strength”. However, Direct Line, known for its motor insurance, said it had considered the proposal with its advisers and concluded that it was “highly opportunistic and substantially undervalued the company”. It added: “The board has considerable conviction in the capabilities of our newly established leadership team and stands firmly behind their delivery of our strategy. Under this strategy, the company continues to make early progress towards our financial targets, and expects to deliver attractive growth in profitability, capital generation and shareholder returns.” The Kent-based company said earlier this month that it plans to cut 550 jobs as part of a turnaround plan aimed at saving £50m next year. It lost nearly 400,000 car insurance customers in the past year. Adam Winslow joined as chief executive in March from Aviva, where he ran the general insurance business in the UK and Ireland. In February, Direct Line rejected a £3.1bn takeover approach from Belgian insurer Ageas , saying it was “uncertain and unattractive” for shareholders. The company was spun out of Royal Bank of Scotland in 2012 and listed on the London Stock Exchange two years later. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Aviva has sold businesses in France, Italy, Asia and elsewhere to focus on the UK, Ireland and Canada under chief executive Amanda Blanc. In March, it announced it was returning to the Lloyd’s insurance market through the £242m purchase of Probitas and completed the deal in July. Under UK takeover rules, Aviva has until 5pm on 25 December to announce a firm intention to make an offer or walk away.
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As Wayanad job scam hits Congress party, police begins probe into the suicide casesPete Hegseth's mother says The New York Times made 'threats' by asking her to comment on a storyWhen Jane Devasahayam was born 86 years ago to Chinese parents, she was considered "suay" (unlucky) as her mother had died during childbirth. Her father, a farmer in Johor Bahru, gave her away to an Indian family shortly after. “The day I arrived at my new family’s home, my adopted father won the lottery,” Madam Jane told tabla! “So I also grew up with the nickname Pakiam, which means good fortune in Tamil.” Inspired by the anecdote and the tales of other Chinese children who were adopted and raised by Indian parents in Singapore pre-1960s, Madam Jane’s daughter, sociologist Theresa Devasahayam, embarked on a trail to document the lived experiences of 14 such women. Her book, entitled Little Drops: Cherished Children Of Singapore’s Past, was published on Feb 20, and documents anecdotes on Singapore’s history with cross-cultural adoption. Though she said it’s difficult to ascertain how many such adoptions took place between the 1930s and 1960s, Dr Theresa estimated the number to be in the thousands. Courts to get more power over child welfare in divorce cases “I wanted to pass on these lived experiences to the younger generation, many of whom may not know that this phenomenon of cross-cultural adoption had once been relatively common in Singapore,” she said. Madam Jane shared some of the challenges she faced growing up, such as when she would ask her adoptive mother of her origin. “I asked her, ‘how come I am so fair-skinned?’ My mother would jokingly reply that it was because I fell into a tub of milk,” she reminisced with a laugh. Madam Jane never picked up the Chinese language. In school, she learnt English and Malay, and even Latin. She learnt to speak Tamil on her own. When she was a young adult, her mother eventually told her the truth about her adoption. She then tried to seek out her birth family – but her efforts were unsuccessful. Despite that, she looks back on her life with gratitude towards her adoptive parents. Madam Saraswathi Nagalingam, also documented in the book, learnt of her true origins when she was 12. The 75-year-old’s foster parents were originally from India and settled in Singapore during the 1940s. “I do not know exactly at which age I was given away,” Madam Saraswathi said. “But I did see photographs of myself aged possibly two or three, with my adoptive parents, so I am guessing that I was adopted before that”. She remembers that although she was not treated any differently at school, there were some students who used to insist she was Chinese, which would make her cry. “I used to dislike how I looked. To comfort me, my mother would tell me that my skin would eventually be like hers as I grew older,” she said. As a form of protection, her mother made her wear a pottu (little black dot) on her forehead during the 1964 race riot between the Chinese and Malays. “This proved tricky, as I was attending a Methodist school, which at the time, discouraged Indian students from wearing the pottu. Once I removed the pottu and my mother found out. She was so upset with me that I never dared again to remove it. From that day, I realised the extent of her love for me,” Madam Sarawathi said. She also recalled a Chinese woman who used to turn up at her house occasionally when she was a child – only to be shooed away by her parents. She inferred that the woman was her birth mother, but never dared to ask her foster mum about it. When she turned 12, she discovered she was Chinese by birth from her birth certificate. “My adoptive mother insisted there was a mistake in the birth certificate. I was old enough to know the truth, but I loved her too much to ever bring the matter up again,” she said. Years later, when she was married, her husband once suggested she put an advertisement in the Chinese newspapers to locate her birth family. “I told him, you find that out if you want, but I am not interested. As far as I am concerned, I already have a family of my own,” she said. stateless Growing up in the kampung of Aljunied, Madam Thangah Koh was treated as an Indian in school and by her neighbours, who were predominantly Malay. The 72-year-old, whose foster father was a kacang putih seller, recalled the time she was left confused after being refused a pink identification card (IC). Instead, at the age of 14, she was given a blue IC, and told by a government official that she was Chinese. “The officer asked me if I was Chinese. I said, no! But he insisted that I was, showing my original Chinese name in my birth certificate. It was only then that I noticed my Chinese name for the first time,” Madam Thangah said. She was told that unless she could locate her birth parents, she could not be issued a pink IC. Eventually, Madam Thangah and her foster mother did find her birth family – at a flat in MacPherson. “My birth family were all in tears when they first saw me. Yet, strangely, I did not feel anything. Eventually I found out that another sister of mine was adopted by a Malay family,” she said. Today, as it was then, Madam Thangah expressed her pride in identifying as a Tamil woman: “I love my language, culture, customs and religion. To me, Tamil means beauty.” Those in the Tamil community who have attended Tamil literary events might find Madam Manoranjitham Param a familiar face. The 76-year-old, who is well versed in Tamil literature, is a regular at such events, where she stands out for her appearance. Madam Mano was adopted by a couple who had lost a child after he drowned in a river in Bukit Timah in the 1950s. Though they had two other sons, they adopted Madam Mano and her sister, who were four and three respectively at the time. “My adopted mother, who was grieving the loss of her son, gradually became herself again after she adopted us,” said Madam Mano, whose birth mother died shortly after her younger sister was born. Her father, she said, often encouraged her to study instead of doing household chores. “I became studious. In school I was always the top student in Tamil,” she said. She recalled how her Tamil teacher Mr Chelliah would praise her and scold “some lazy boys” in his class, saying “a Chinese girl can do so much better than you”. This prompted some teasing and name calling. “And then I would go to the teacher and say, please stop praising me.” Currently, the Ministry of Social and Family Development governs matters of adoption in Singapore. Hence, these stories of adoption, mostly during the early years of Singapore’s independence, provide a glimpse into yesteryear Singapore, said Dr Theresa, who has worked in gender studies for more than 25 years. “These stories are very much part of our past. Without knowing about these stories, we will never be able to truly understand ourselves and what we are capable of as a people,” she said. “And because they are a crucial part of our collective memory, it’s important to document them.”
Giants face challenge in hosting Ravens, trying to end 8-game skidWASHINGTON (AP) — President-elect Donald Trump on Thursday voiced his support for the dockworkers union before their contract expires next month at Eastern and Gulf Coast ports, saying that any further “automation” of the ports would harm workers. The incoming president posted on social media that he met Harold Daggett, the president of the International Longshoreman's Association, and Dennis Daggett, the union's executive vice president. “I’ve studied automation, and know just about everything there is to know about it,” Trump posted. “The amount of money saved is nowhere near the distress, hurt, and harm it causes for American Workers, in this case, our Longshoremen. Foreign companies have made a fortune in the U.S. by giving them access to our markets. They shouldn’t be looking for every last penny knowing how many families are hurt.” The International Longshoremen’s Association has until Jan. 15 to negotiate a new contract with the U.S. Maritime Alliance, which represents ports and shipping companies. At the heart of the dispute is whether ports can install automated gates, cranes and container-moving trucks that could make it faster to unload and load ships. The union argues that automation would lead to fewer jobs, even though higher levels of productivity could do more to boost the salaries of remaining workers. The Maritime Alliance said in a statement that the contract goes beyond ports to “supporting American consumers and giving American businesses access to the global marketplace – from farmers, to manufacturers, to small businesses, and innovative start-ups looking for new markets to sell their products.” “To achieve this, we need modern technology that is proven to improve worker safety, boost port efficiency, increase port capacity, and strengthen our supply chains,” said the alliance, adding that it looks forward to working with Trump. In October, the union representing 45,000 dockworkers went on strike for three days, raising the risk that a prolonged shutdown could push up inflation by making it difficult to unload container ships and export American products overseas. The issue pits an incoming president who won November's election on the promise of bringing down prices against commitments to support blue-collar workers along with the kinds of advanced technology that drew him support from Silicon Valley elite such as billionaire Elon Musk. Trump sought to portray the dispute as being between U.S. workers and foreign companies, but advanced ports are also key for staying globally competitive. China is opening a $1.3 billion port in Peru that could accommodate ships too large for the Panama Canal. There is a risk that shippers could move to other ports, which could also lead to job losses. Mexico is constructing a port that is highly automated, while Dubai, Singapore and Rotterdam already have more advanced ports. Instead, Trump said that ports and shipping companies should eschew “machinery, which is expensive, and which will constantly have to be replaced.” “For the great privilege of accessing our markets, these foreign companies should hire our incredible American Workers, instead of laying them off, and sending those profits back to foreign countries,” Trump posted. “It is time to put AMERICA FIRST!” ___ Josh Boak, The Associated PressNEW YORK , Dec. 4, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global social media analytics market size is estimated to grow by USD 14.01 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 31.33% during the forecast period. Growing availability and complexity of data is driving market growth, with a trend towards surging use of advanced targeting options. However, concerns associated with interpreting unstructured data poses a challenge. Key market players include Adobe Inc., Agorapulse SAS, Big Propeller LLC, Brand24 Inc., Cision US Inc., Digimind, GoodData Corp., International Business Machines Corp., Khoros LLC, Meltwater NV, MetaQuotes Ltd., NetBase Solutions Inc., Oracle Corp., Reputation Group of Companies, Salesforce Inc., SAP SE, SAS Institute Inc., Simplify360, Sprout Social Inc., and Talkwalker Sarl. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF Key Market Trends Fueling Growth Social media analytics is a vital business tool that helps companies make data-driven decisions. Advanced technologies like AI speech recognition and machine learning power this market, collecting and analyzing data from social media platforms and tools. Real-time monitoring, performance measurement, and campaign optimization are key trends. Blockchain solutions and cybersecurity measures ensure data security. Self-learning systems and neuroscientific principles enhance insights. Demographic information, competitive information, and business information are crucial data points. Profit margins, workforce management, and customer data are other essential areas of focus. Unstructured social data, cloud adoption, and SaaS solutions are emerging trends. Industries like media & entertainment, IT & telecom, healthcare, and travel benefit greatly. Data identification, preparation, modeling, visualization, and data security concerns are ongoing challenges. Social media analytics drives customer service, engagement, and targeted marketing. User sentiments, competitor intelligence, and influencer tracking are essential for businesses. Cloud-based analytical solutions and AI-powered tools are the future. Social media analytics plays a crucial role in identifying potential customers for businesses by analyzing user data on various social networks. Beyond demographic and geographic targeting, social media analytic tools offer interest targeting, allowing brands to reach consumers based on their stated interests, activities, and skills. This service, available on Facebook, LinkedIn, Pinterest, and Twitter, enables effective keyword research and market exploration. By promoting product segments to interested audiences, social media analytics enhances the reach and effectiveness of social media advertising. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Social media analytics is a vital business tool for understanding customer behavior, trends, and competition in today's digital landscape. Advanced technologies like AI speech recognition and machine learning help in data modeling, identification, and preparation. However, challenges include data collection from various social media platforms and tools, real-time monitoring, and data security. Blockchain solutions and cybersecurity measures ensure data privacy and integrity. Self-learning systems and neuroscientific principles enhance performance monitoring and customer engagement. Profit margins rely on demographic information, competitive and business intelligence, and customer data. Emerging technologies like cloud adoption, SaaS, and AI-powered solutions offer unstructured social data analysis, targeted marketing, and emotional intelligence. Industries like media & entertainment, IT & telecom, healthcare, and travel benefit from social media analytics. Data security concerns and cloud deployment models are key considerations for large enterprises. Brands use social media analytics for customer service, workforce management, and user sentiments analysis. In today's business landscape, managing a company's social media presence is a crucial aspect of brand building and customer engagement. Social media platforms provide both free and paid services for businesses to advertise, promote, and endorse their products and services. An experienced professional is responsible for managing the organization's social media profile, ensuring timely updates and relevant feeds. Customer interaction on these platforms is essential for determining the success of products and building brand loyalty. The sheer size of the audience requires a substantial investment in manpower to effectively manage the official page. Companies delegate this responsibility to individuals or teams to maintain a strong online presence. Insights into how AI is reshaping industries and driving growth- Download a Sample Report This social media analytics market report extensively covers market segmentation by 1.1 Sales and marketing management 1.2 Customer experience management 1.3 Competitive intelligence 1.4 Risk management 1.5 Public safety and law enforcement 2.1 Retail 2.2 Government 2.3 Media and entertainment 2.4 Travel 2.5 Others 3.1 On-premise 3.2 Cloud 4.1 North America 4.2 APAC 4.3 Europe 4.4 South America 4.5 Middle East and Africa 1.1 Sales and marketing management- Social media analytics (SMA) professionals utilize natural language processing and analysis to understand consumer behavior on social media platforms. These tools identify industry capability gaps and inform sales and marketing strategies based on customer feedback. Amidst the COVID-19 pandemic, brands have had to adapt their advertising, marketing, and promotional activities. Consumer engagement through social media has shifted, leading businesses to restructure their campaigns for sustained interest and spending while maintaining a healthy return on investment. These factors contribute to the growth of the SMA market during the forecast period. Organizations leverage social media data to optimize marketing techniques and boost sales. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2017 - 2021) Social media analytics is a dynamic and evolving market driven by advanced technologies that help businesses make data-driven decisions. It involves data collection from various social media platforms, audience analysis to understand customer behavior, and competitor analysis to stay ahead of the competition. Content optimization and campaign measurement are crucial for effective social media marketing, while sentiment analysis provides insights into public opinion. Real-time monitoring is essential for timely response to customer queries and crisis management. Emerging technologies like AI speech recognition and cloud-based analytical solutions are transforming the market. With increasing internet penetration and social media users, small and medium-scale organizations are adopting social media analytics for growth. Data security concerns are being addressed through cloud deployment models. Mobile phones and tablets are the primary devices for social media access, and e-commerce and online shopping are major sectors leveraging social media analytics. Social media analytics is a dynamic and evolving market driven by advanced technologies and the increasing use of social media platforms. Data collection is at the core, with real-time monitoring, performance measurement, and campaign optimization key components. Unstructured social data from various sources is identified, prepared, and modeled for insights. AI speech recognition, machine learning, and self-learning systems apply neuroscientific principles to understand emotions and customer sentiments. Cloud adoption and SaaS solutions enable access to data and analysis from anywhere. Emerging technologies like blockchain and cybersecurity measures ensure data security. Large enterprises in sectors like media & entertainment, IT & telecom, healthcare, and travel leverage social media analytics for business intelligence, competitive information, and customer data. Small/medium-scale organizations and online shopping/e-commerce also benefit from targeted marketing and workforce management tools. Internet penetration and social media users continue to grow, fueling the demand for advanced social media analytics. However, data security concerns and cloud deployment models remain critical issues. The market is expected to see continued innovation with AI-powered solutions, augmented reality, and targeted marketing applications.Voices and user sentiments are increasingly important for brands, making social media analytics an essential tool for businesses. 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation Application Sales And Marketing Management Customer Experience Management Competitive Intelligence Risk Management Public Safety And Law Enforcement End-user Retail Government Media And Entertainment Travel Others Deployment On-premise Cloud Geography North America APAC Europe South America Middle East And Africa 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/ SOURCE Technavio
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