Will labor costs and consumer confidence crash the holiday hiring season?
As the 2023 holiday season kicks off, the labor market is starting to cool and employers are hiring at a slower clip. As labor costs and interest rates rise, seasonal employers may rein in their typical hiring sprees, as both consumers and employers feel the crunch, according to one workplace authority. “With inflation slowing, companies, particularly Retailers, won’t be able to pass increased labor costs to the consumer as easily....
Alta Equipment Group Inc. announces pricing of upsized Secondary Offering of Common Stock
Alta Equipment Group Inc. (NYSE: ALTG) (“Alta” or the “Company”), a provider of premium material handling, construction and environmental processing equipment and related services, today announced the pricing of an upsized underwritten secondary offering of 2,200,000 shares of its common stock, par value $0.0001 per share (the “Common Stock”) by an affiliate of B. Riley Financial, Inc. (the “Selling Stockholder”) at a price to the...
FMI Analysis: Warehouse racking market expected to scope US$ 10,839.2 million by 2033
As per a recent market analysis by Future Market Insights (FMI), the global warehouse racking market is expected to capture a 3.8% CAGR from 2023 to 2033. The market is likely to increase from US$ 7,464.9 million in 2023 to US$ 10,839.2 million by 2033. The global logistics industry comprises a wide range of freight and cargo-related transportation sectors. The integration of material handling, warehousing, packaging, transportation,...
2023 Economic Outlook forecasts 4.2% expansion in Equipment and Software Investment and 0.9% GDP growth next year amid mild U.S. Recession
In what is likely to be a more challenging year for both the economy and the equipment finance industry, the 2023 forecast for equipment and software investment growth is 4.2%, according to the 2023 Equipment Leasing & Finance U.S. Economic Outlook. The report released today by the Equipment Leasing & Finance Foundation also forecasts sluggish U.S. GDP growth of 0.9% (annualized) due to a mild recession that is expected to...
First Financial Equipment Leasing expands operations in Canada following acquisition of NorFund Capital
First Financial Equipment Leasing (FFEL), a provider of equipment financing solutions and a member company of JA Mitsui Leasing Ltd (JAML), announces a strategic expansion into Canada with the acquisition of NorFund Capital. Based in Toronto, Canada, NorFund Capital is an independent leasing company specializing in capital equipment, solar and alternative energy, and vendor finance programs. The acquisition continues First Financial...
UgoWork secures $22.8M to scale connected Energy as a Service solutions for industrial vehicles
UgoWork™, a provider of flexible Energy as a Service (EaaS) solutions for industrial vehicles, announced the closing of its all-equity $22.8M Series B financing. This round was led by Fonds de solidarité FTQ, with participation from Export Development Canada (EDC), and existing UgoWork investors Desjardins Capital and Investissement Québec. Proceeds from series B will be used to accelerate the development efforts of its software and...
Industry prepares for continued rate hikes as wholesale trade adds 15,000 jobs in October and inflation shows tepid signs of deceleration
An economic slowdown is likely in the next 6 to 12 months with the onset of regular rate hikes. The industry encourages the federal government to avoid enacting policies that may increase the likelihood of a global recession The National Association of Wholesaler-Distributors (NAW), which is the voice of the 7.4 trillion-dollar wholesale distribution industry, and employs more than 5 million U.S. workers, reacted to the newly released...
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