Brexit starts a new chapter for Britain to think "creatively" about keeping the UK an attractive location for international financial services companies, Britain's finance minister Rishi Sunak told the Bank of England. Britain left the EU's single market on Dec. 31 and its trade deal with the bloc does not cover cross-border financial services. "This will present new opportunities for both the government and regulators to think creatively to ensure that the financial system supports the recovery from coronavirus, while ensuring the UK remains an attractive domicile for internationally active financial institutions," Sunak said in a letter to the BoE's Financial Policy Committee (FPC).
NEW YORK — More than one-third of U.S. nonprofits are in jeopardy of closing within two years because of the financial harm inflicted by the viral pandemic, according to a study being released Wednesday by the philanthropy research group Candid and the Center for Disaster Philanthropy. The study's findings underscore the perils for nonprofits and charities whose financial needs have escalated over the past year, well in excess of the donations that most have received from individuals and foundations. The researchers analyzed how roughly 300,000 nonprofits would fare under 20 scenarios of varying severity. The worst-case scenario led to the closings of 38% of the nonprofits. Even the scenarios seen as more realistic resulted in closures well into double digit percentages. Officials of Candid, which includes the philanthropic information resources GuideStar and Foundation, and the Center for Disaster Philanthropy, which analyzes charitable giving during crises, said the most dire scenarios could be avoided if donations were to increase substantially — from the government as well as from private contributors. “If you are a donor who cares about an organization that is rooted in place and relies on revenue from in-person services, now is the time probably to give more,” said Jacob Harold, Candid’s executive vice-president. Among the most vulnerable nonprofits, the study said, are those involved in arts and entertainment, which depend on ticket sales for most of their revenue, cannot significantly their reduce expenses and don’t typically hold much cash. Other studies have concluded that smaller arts and culture groups, in particular, are at serious risk. Californians for the Arts, for example, surveyed arts and culture nonprofits in the state and found that about 64% had shrunk their workforces. Roughly 25% of them had slashed 90% or more of their staffs. And a report last week from New York State Comptroller Thomas P. DiNapoli found that employment in New York City’s arts, entertainment and recreation sector tumbled 66 per cent during 2020. “It really has been devastating,” said Kristina Newman-Scott, president of BRIC, a Brooklyn arts institution best-known for its community TV channel and Celebrate Brooklyn! concert series. “We have a lot of empathy for our colleagues and friends in the arts space who, based on their model, see things that are just not going to be the same for them. They will be navigating a very different financial pathway.” Newman-Scott said BRIC has been helping sustain smaller arts nonprofits and offering artists unrestricted $10,000 grants through its Colene Brown Art Prize. “We are anxious to get back to in-person events,” she said. “But we want to do it as part of a community. We don’t want to be the only one. We want other organizations that are and have been doing extraordinary work, especially the smaller folks who have it harder because they just don’t have as many resources. We want them to be around us also.” Harold, the Candid executive, said that while arts and entertainment groups may be at particular risk, nonprofits from all sectors are in danger. According to the study, the District of Columbia was expected to lose the most nonprofits per capita, followed by Vermont and North Dakota. The most vulnerable nonprofits may try to reduce costs this year by narrowing their focus or by furloughing workers. Some may seek a merger or an acquisition to bolster their financial viability, Harold noted, although doing so would still mean that fewer nonprofits would survive. “A lot of non-profit boards were able to say, ‘Oh, this is going to end soon’ and ‘We’re fine for a year,’” Harold said. “But they might not be fine for two years. So if they dragged their feet last year, they may find themselves really having to scramble this year to make the structural changes now.” The perils that nonprofits face are similar to the economic damage from the pandemic that forced so many restaurants to either close or operate at deep losses over the past year. An estimated 110,000 restaurants — roughly one in six — closed in 2020 and, according to the National Restaurant Association, the pandemic could force 500,000 more to shut down. President Joe Biden last week ordered the Small Business Administration to prioritize businesses and nonprofits with fewer than 20 employees in the awarding of loans through the Paycheck Protection Program. “Since the beginning of this pandemic, 400,000 small businesses have closed — 400,000 — and millions more are hanging by a thread,” Biden said. “It’s hurting black, Latino and Asian American communities the hardest.” Harold said that while the federal government's focus on small businesses and small nonprofits will help some of them survive, “it’s not going to have a huge impact.” The Candid/Center for Disaster Philanthropy study found that $20.2 billion was donated to combat COVID-19 in 2020, with 44 per cent of it coming from corporations. It was one of many notable shifts in philanthropy during the pandemic. “We were definitely seeing more grants for flexible operating expenses and general support,” said Grace Sato, Candid’s director of research. “More grants were explicitly designated for vulnerable communities, communities most impacted by the pandemic.” The pandemic also made some major foundations recognize how burdensome their grant process has been and finally took steps to simplify it, Harold said. “One of the dominant emotional dynamics is guilt,” he said. “They finally crossed the threshold. We saw that with hundreds and hundreds of foundations.” ___ The Associated Press receives support from the Lilly Endowment for coverage of philanthropy and nonprofits. The AP is solely responsible for all content. Glenn Gamboa, The Associated Press
According to Precedence Research, the global semiconductor memory market size is projected to be worth around US$ 134.95 billion by 2027, growing with a CAGR of 6.1%.OTTAWA, March 03, 2021 (GLOBE NEWSWIRE) -- The global semiconductor memory market size was estimated at more than US$ 90 billion in 2019. Semiconductor memory refers to an electronic device that is used as a computer memory in which IC (Integrated Circuit) technology is used for maintaining the digital information. Moreover, on the basis of the type of data access and data storage these memories are classified intonon-volatile ROM (Read Only Memory) and volatile RAM (Random Access Memory). Growth Factors Rising integration of Internet of Things (IoT) into automotive, consumer electronics and industrial application along with increasing acceptance of IoT across these industries drives the semiconductor memory market. Implementation of IoT and smart electronic devices improves the production and manufacturing capacity along with reducing the overall cost of the product. Further, the integration of numerous technologies such as Artificial Intelligence (AI), IoT, and Big Data the devices need high operating speed and capacity, thereby fuelling the demand for semiconductor memory devices in the coming years. Presently, consumer trend has also shifted from the traditional electronic products towards smart and advanced products that again flourish the overall market growth. Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1080 Report Highlights The Asia Pacific led the global semiconductor memory market with more than 45% of market value share in the year 2019. This is attributed to the increasing data center investments in countries such as Singapore, India, and Indonesia, thus create prominent demand for semiconductor memory in the region.North America seeks to be the most opportunistic region during the forecast period, followed by Europe. Rising investment for research & development activities by the companies along with the significant presence of major market players that are dedicated towards the development of new technologies propel the growth of the region significantly.The Dynamic Random Access Memory (DRAM) segment captured the major market revenue share of more than 45%. The growth is attributed to the increasing computing capabilities with the implementation of Artificial Intelligence (AI) in laptops, smartwatches, and smartphones that require compatible memory solutions.By application, consumer electronics dominated the global semiconductor memory market and accounted for nearly 35% of market value share in the year 2019. The segment anticipated to offer alluring growth opportunities for all the market players involved in the value chain on the account of rising application of semiconductor memory in wearable devices, smartphones, and tablets across the globe.The automotive application anticipated to register considerable growth rate over the analysis period. The growth of the segment is attributed to the rising adoption of advanced safety systems in automobiles such as advanced driver-assistance systems (ADAS), lighting, airbags, and breaking that use large amount of sensors and Engine Control Units (ECUs). Get Customization on this Research Report@ https://www.precedenceresearch.com/customization/1080 Regional Snapshots In 2019, the Asia Pacific accounted for the highest market value share with more than 45% in the global semiconductor memory market. This is impelled by the increasing production consumer electronics and memory solutions in India, China, and South Korea. Further, several companies are operating in the region that include Samsung, SK Hynix, Nanya Technologies, Inc., Toshiba Corporation, and many more that focus mainly on the product innovation and development. In addition, increasing investment in data center in Asian countries such as Singapore, India, and Indonesia are expected to create alluring growth opportunity for the semiconductor memory market in the region. For instance, in September 2017, Amazon.com Inc. invested USD 924 Million in Indonesia for data center facilities over the coming ten years. The company also planned to introduce its cloud computing unit in the Indonesian market. Besides this, North America seeks to be the most lucrative region in the global semiconductor memory market over the forecast period. Integration of advanced electronic devices in the automotive sector along with rising investment in research & development are the major factors attributed towards the growth of the region. Related Reports Compound Semiconductor Market - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027Fiber Optics Market - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027Active Electronic Components Market - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027 Key Players & Strategies The global semiconductor memory market is highly competitive due to the presence of major market players and their strong distribution channel. These market players are mainly focused towards merger & acquisition, and partnership strategies to enhance their product portfolio and upgrade their market position. For instance, in May 2016, Western Digital acquired SanDisk Corporation to expand its product portfolio especially in semiconductor industry. Similarly, in August 2019, Macronix International Co., Ltd. introduced ArmorFlash memory on the artificial intelligence (AI) based Advanced Driver Assistance System (ADAS) that include DRIVE AGX Pegasus and NVIDIA DRIVE AGX Xavier for NVIDIA Corporation. Some of the key players operating in the market areMicron Technology, Integrated Silicon Solution Inc., Cypress Semiconductor Corporation, Samsung Electronics, Macronix International Co., Ltd., Taiwan Semiconductor, SK Hynix, Toshiba Corp., Texas Instruments, and IBM Corporation among others. Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1080 You can place an order or ask any questions, please feel free to contact at email@example.com | +1 774 402 6168 About Us Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally. For Latest Update Follow Us: https://www.linkedin.com/company/precedence-research/ https://www.facebook.com/precedenceresearch/ https://twitter.com/Precedence_R