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Kingston creating open spaces for pedestrians, businesses during pandemic

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KINGSTON —
The City of Kingston is moving forward with plans to create more space for pedestrians and businesses in the downtown core as COVID-19 restrictions are relaxed. 

A series of road and lane closures will come into effect the week of June 22, according to the city, with changes affecting Brock Street, and Market Street, while Princess Street will be reduced to one lane.

David Dossett owns Martello on Brock, which sits on Brock Street. At first, a little concerned about the city’s plan, now he says it is a great opportunity to reimagine the sidewalks.

“I think what we need to do is create a space that’s really going to be exciting,” explains Dossett. “We want a place that will be providing local goods, with kind of an exciting atmosphere.”

Mayor Bryan Paterson says the plan is to give more space for residents to physical distance while out and allow businesses more room to operate services like patios. 

“Space is really at a premium right now,” he says. “If you want physical distancing you’ve got to give people and businesses a chance to spread out, so let’s use our public spaces to do that.”

Tim Pater owns Le Chien Noir, also on Brock. He supports the move.

“Our sidewalks are fairly narrow, and it’s difficult to social distance on them,” he explains. “Really we want to create an environment where people feel safe but also that we help the merchants downtown as well.”

Market Street will be fully closed, while Brock Street will be closed from Ontario Street to Wellington Street, with the King Street intersection open for traffic along King. Princess Street will see all on-street parking removed and a single lane for vehicles from Ontario to Division Streets, while cross streets will remain open with some short-term parking added. 

Clarence Street will also see some on-street parking removed to accommodate the changes. 

However, some businesses who will not see changes to their streets feel this has put them at a disadvantage.

Paul Fortier owns The Public House on nearby King Street. He supports the closures but says he and other businesses would like to see them rotate throughout the summer.

“If we’re going to have probably 50 per cent capacity. This is a small restaurant that has 50 seats,” he says. “If I could expand into the street I could recoup those lost seats with social distancing. But I’m not being given the opportunity.”

Officials say this is a work in progress.

“We are already actively looking at some expanded patio options,” says Mayor Paterson.

“There’s still a lot of discussion to happen but the genuine sentiment is that we want to find solutions,” says Michele Langois from Downtown Kingston.

With files from Newstalk 580 CFRA’s Andrew Pinsent

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Satellite Manufacturing and Launch Market: COVID-19 Business Continuity Plan | Evolving Opportunities with Airbus SE and Honeywell International Inc. | Technavio

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LONDON–()–The global satellite manufacturing and launch market is expected to grow by USD 3.50 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 3%.

For the Right Perspective & Competitive Insights- Request Free Sample Report on Pandemic Recovery Analysis

Read the 120-page report with TOC on “Satellite Manufacturing and Launch Market Analysis Report by Product (Satellite manufacturing and Launch services), Geography (North America, Europe, APAC, South America, and MEA), Application (Communication satellite, Military surveillance, Earth observation satellite, Navigation satellite, and Others), and the Segment Forecasts, 2020-2024”. Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/satellite-manufacturing-and-launch-market-industry-analysis

The satellite manufacturing and launch market is driven by the reduction in associative launch cost. In addition, the rising demand for multirole satellites is anticipated to boost the growth of the satellite manufacturing and launch market.

Many companies that offer satellite launch services are increasing their R&D efforts to develop cost-effective launch systems. For instance, Rocket Lab has indigenously developed a rocket called the Electron with a maximum payload capacity of 496 lbs. The rocket has a unique structure and features an innovative jet propulsion cycle to achieve significant cost savings during launches. Besides, the growing competition in the market has compelled several satellite launch services companies to reduce the cost of launching satellites. For example, Arianespace, a part of ArianeGroup, has decided to reduce its satellite launch costs by 40% to compete with SpaceX. Such factors have significantly decreased the launch cost of satellites. This is expected to increase the number of satellite launches during the forecast period, thereby driving the growth of the market.

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View market snapshot before purchasing

Major Five Satellite Manufacturing and Launch Companies:

Airbus SE

Airbus SE operates its business through segments such as Airbus, Helicopter, and Defence and Space. The company offers optical earth observation satellite systems such as S250 optical, S950 optical, and S850 radar among others.

Honeywell International Inc.

Honeywell International Inc. operates its business through segments such as Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers avionics, controls, and semiconductor solutions.

Lockheed Martin Corp.

Lockheed Martin Corp. operates its business through segments such as Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. The company offers Advanced Extremely High Frequency (AEHF-6) satellite.

Maxar Technologies Inc.

Maxar Technologies Inc. operates its business through segments such as Earth Intelligence and Space Infrastructure. The company manufactures communication and Earth observation satellites such as 1300 Class and Legion Class that offers radar imagery.

Northrop Grumman Corp.

Northrop Grumman Corp. operates its business through segments such as Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services. The company offers GEOStar geostationary Earth orbit (GEO) commercial satellites.

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Satellite Manufacturing and Launch Market Product Outlook (Revenue, USD Billion, 2020-2024)

  • Satellite manufacturing
  • Launch services

Satellite Manufacturing and Launch Market Geography Outlook (Revenue, USD Billion, 2020-2024)

  • North America
  • Europe
  • APAC
  • South America
  • MEA

Satellite Manufacturing and Launch Market Application Outlook (Revenue, USD Billion, 2020-2024)

  • Communication satellite
  • Military surveillance
  • Earth observation satellite
  • Navigation satellite
  • Others

Are you a start-up willing to make it big in the business? Grab an exclusive Report

Related Reports on Industrials Include:

Global Satellite Propulsion System Market – Global satellite propulsion system market by type (chemical propulsion, hybrid propulsion, and all-electric propulsion) and geography (North America, APAC, Europe, South America, and MEA).

Global Electric Propulsion Satellite Market – Global electric propulsion satellite market by type (hybrid and all-electric) and geography (APAC, Europe, MEA, North America, and South America).

About Technavio

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.

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Aviva explores sale of another business unit

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Now, Blanc is turning words into action. Aviva already reported on September 11 that it would sell control of its Singapore business for SG$2.7 billion, and is now exploring a potential sale of its French unit, which could be valued at about €3 billion, according to reports from Bloomberg.

Potential interested buyers include competitors like AXA SA or Allianz SE, as well as consolidators like Apollo Global Management Inc.-backed Athora Holding Ltd., sources told Bloomberg. Aviva is reportedly also consulting an advisor about the sale of its Italian non-life insurance business, said the same sources.

Meanwhile, Aviva’s unit in Poland is receiving interest as well, in addition to its joint ventures in Turkey and India, which are likewise seen as potential divestment candidates, said sources.

These divestment moves could bring some much-needed capital to Aviva, generating potentially billions of pounds that the insurer could pass on to shareholders or employ in its core operations in the UK, Ireland, and Canada. This aligns with Blanc’s promises at the half-year results mark, when she stated, “We will focus Aviva on our strongest businesses in the UK, Ireland and Canada and aim to be the UK’s leading insurer.”

“Aviva is in the very early stages of developing its strategy for its continental European and Asian businesses,” Aviva said in a statement. Representatives for Allianz, Athora and AXA declined to comment, according to Bloomberg.

Nonetheless, nothing is set in stone yet for Aviva’s sale in France and there’s no guarantee that the units being reviewed will be sold. The divestment of Aviva’s French unit could be the biggest sale of an insurance operation based in the country in over a decade, data compiled by Bloomberg showed, but potential buyers are worried about liabilities from legacy contracts that permit some Aviva customers to buy a fund at historical prices, leading to instant profits, sources explained.

On a call with analysts in August, Blanc said that Aviva will be selective about where it competes, and in reference to operations outside of its core markets, she noted, “Ultimately, there may be better owners for these businesses than Aviva.”

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Walmart teams up with Goldman Sachs to offer online sellers business credit lines

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Walmart (WMT) is getting into business lending — with some help from Goldman Sachs (GS).

Beginning on Tuesday, small and medium-sized businesses that sell on the retail giant’s Marketplace will see invites to apply for business lines of credit offered by Marcus, Goldman’s online consumer banking unit. It’s part of a new partnership between the big-box retailer and the Wall Street giant.

“Access to affordable capital is more important than ever as businesses large and small world to adapt and evolve to serve customers and grow their businesses,” Jeff Clementz, vice president of Walmart Marketplace, said in a blog post.

Walmart.com sellers invited to apply for a business line of credit from Marcus will see a notification in the Seller Center dashboard. 

Initially, sellers can access lines of credit between $10,000 and up to $75,000. A source familiar with the matter told Yahoo Finance that, over time, Marcus hopes to raise the potential line of credit for qualifying customers to as high as $1 million. 

The credit lines have a fixed annual interest rate between 6.99% and 20.99%, depending on the business’s creditworthiness.

“Lines of credit offer businesses the flexibility to access money when they need, which could help them move fast and meet during customer demand. It could also help fund innovation as we’re all working to adapt to changing customer behavior and preferences,” Clementz wrote.  

Marcus by Goldman Sachs is offering business line of credit available for Walmart.com’s Marketplace sellers.

For Walmart, e-commerce has continued to show strong growth, especially during the coronavirus pandemic. Online sales skyrocketed 97% year-over-year during the second quarter, and Walmart.com’s Marketplace sales grew triple digits. 

And while Walmart hasn’t publicly shared the number of sellers on its Marketplace, the site now features than 75 million items as it continues to challenge Amazon (AMZN) in e-commerce. This summer, Walmart partnered with Shopify (SHOP), an online e-commerce platform that caters to small and medium-sized businesses, to allow its sellers to list items on Walmart.com.

Goldman has also benefitted from the shift to the Web, amid an acceleration of digital-only banking during COVID-19 lockdowns. The bank has been working on expanding Marcus, its four-year-old digital-first consumer bank named after the 150-year-old Wall Street firm’s founder.

Specifically, Goldman has taken a two-pronged approach by offering products through Marcus.com and its mobile app, and embedding its products into large partners’ ecosystems, a strategy known as Banking-as-a-Service (BaaS). 

Toward this end, it’s partnered with JetBlue (JBLU), allowing travelers to access a no deposit, no-fee, fixed-rate point-of-sale installment loan for flights and vacations. And last year, Marcus teamed up with Apple (AAPL) and Mastercard (MA) to release its first-ever digital and physical credit card called the Apple Card.

“We are very excited about this partnership with Walmart. We built our seller financing platform with flexible technology architecture to enable us to meet end consumer’s needs within the ecosystem of our partner,” Abhinav Anand, managing director for Marcus by Goldman Sachs, said in a statement. 

Like the Walmart partnership, Goldman Sachs partnered with Amazon in June to offer its fixed-rate lines of credit to third party sellers.

Consumer banking is becoming an ever increasing slice of Goldman’s revenue. In the second quarter, the segment posted revenues of $258 million, up 19% from the same period a year ago and amid a surge in consumer deposits that grew to $92 billion.

The bank ended the quarter with $7 billion in loan balances, with about $2 billion from the Apple Card and $5 billion from Marcus’ loan business.

Julia La Roche is a Correspondent for Yahoo Finance. Follow her on Twitter



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