Coface North America, a leader in Credit Insurance and Business Information Services, is pleased to announce several key leadership appointments as it realigns the organization for growth. Lee Spurrier has been named to lead US Sales, Benoit Urbin will serve as Canada Country Manager, Paul Haigley will head North America Commercial Underwriting and Daniel Franca will oversee our focused efforts in the Financial Institutions & Structured Products markets. “Ensuring we have the best leaders in the right roles is a priority for me as we work to best serve our current and prospective clients, distributors, and partners,” said Oscar Villalonga, CEO of Coface North America.
China has rapidly become a big player in 5G technology, thanks to the government’s strategy and its support of high investment in Research and Development (R&D). This new technology is part of the Made in China 2025 initiative, through which the Chinese government targets self-sufficiency in high-end industries. China coordinated its approach to 5G and some successes are already visible. For example, 40% of global patents for current 5G network standards are from Chinese firms. Moreover, Chinese companies are set to benefit from 5G. Huawei is the global leader in network infrastructures; it currently holds 29% of the market (...)
The luxury market is unique, mainly due to the fact that its products are consumed for social distinction. This has helped companies in the segment to outperform other sector-segments over the past years. Nevertheless, the luxury market is facing important challenges, notably regarding counterfeit products, a risk for companies, and e-commerce, which is disrupting how business is conducted. In addition, the market is not immune to challenging economic conditions. Global economic activity is currently experiencing a slowdown: Coface forecasts a global GDP growth rate of 2.9% in 2019 after 3.2% in 2018, and this will have an impact on some luxury products. Looking ahead, the rise of emerging markets’ middle classes – especially in China – presents great opportunities. Despite global economic slowdown, we are therefore expecting the luxury retail market overall to be resilient, notably benefiting from the rise of Chinese consumers’ appetite for luxury.