Latest news with #SMI
Local Spain
4 days ago
- Business
- Local Spain
Salaries close to the minimum wage are now the most common in Spain
Spain's Socialist-led coalition government has repeatedly increased the minimum wage since 2019. Most recently, back in February Spain's minimum wage or SMI (Salario Mínimo Interprofesional) was increased by €50 per month, up to €1,184 across 14 payments. This created some controversy as it means that many of these low-income workers will now earn enough to pay income tax (IRPF in Spanish) for the first time, as well as creating tension between the coalition partners in the Spanish government. Spain's leftist government has prioritised increasing the minimum wage and state benefits more widely, but new data now shows that this could have had consequences for the overall pay scales in the country. This is seemingly having an impact on wages in Spain, which have also grown but not been able to keep pace with the SMI. The consequence of this is that the minimum wage has in practice become, according to one Spanish outlet: 'the most common wage in Spain.' Sensationalist though that is, it's not entirely unfair. Let's unpick it. In 2018, the year before the current cycle of SMI rises began, the most frequent or commonly earned salary in Spain amounted to €18,469 gross per year. This was €8,200 less than the minimum wage at that time, when the SMI was just €10,303. Only five years later, these two salaries had practically aligned. According to the 2023 Wage Structure Survey, published by Spain's national stats institute INE, the most frequent full-time wage has fallen to €15,575 gross a year, just €450 more than the SMI. In other words, the minimum wage has gone from 56 percent of the most frequent wage to 97 percent in a period of just five years. It's also worth noting that Spain's average and median annual salaries are considerably higher: €28,050 gross and €23,349 gross respectively. The average is the sum of all salaries divided by the number of workers, while the median is the middle value in the ordered salary data set. Calculating the average is generally useful when data is normally distributed or free of outliers, while using the median is better when the data is skewed or contains outliers. In this case, given the huge salary disparities that can exist in Spain, the median salary - €23,349 gross per year - is a truer reflection of wages in Spain as at least half of the working population earnt this. But this doesn't change the fact that the most frequent salary in Spain in 2023 was €15,575 gross a year. Increasing the minimum wage has undoubtedly helped many Spaniards move away from lives of poverty, however if the minimum wage has been outpacing normal wages, it raises questions about pay in Spain more broadly. This is particularly worrying in the context of the cost of living and housing crises the country is currently experiencing.
Business Wire
6 days ago
- Health
- Business Wire
Guided Therapeutics Receives $100,000 from SMI's Investment Partners to Continue Commercialization Process of LuViva in China
PEACHTREE CORNERS, Ga.--(BUSINESS WIRE)--Guided Therapeutics, Inc. (OTCQB: GTHP), the maker of the LuViva Advanced Cervical Scan, announced today that it had received a $100,000 payment from Shandong Yaohua Medical Instrument Corporation (SMI) via its investment partners to assist in commercializing LuViva in China. The $100,000 payment is the first of several such payments that provide for an extension of GTHP's agreement with SMI to commercialize LuViva in China upon regulatory approval in China by September of this year. A portion of the proceeds will be used to supply SMI and its partner distributors in China with electronic components used in certain LuViva accessories. About Guided Therapeutics Guided Therapeutics, Inc. (OTCQB: GTHP) is the maker of a rapid and painless testing platform based on its patented biophotonic technology that utilizes light for the early detection of disease at the cellular level. The Company's first product is the LuViva® Advanced Cervical Scan, a non-invasive device used to detect cervical disease instantly and at the point of care. In a multi-center clinical trial with women at risk for cervical disease, the technology was able to detect cervical cancer up to two years earlier than conventional modalities, according to published reports. For more information, visit: The Guided Therapeutics LuViva ® Advanced Cervical Scan is an investigational device and is limited by federal law to investigational use in the U.S. LuViva, the wave logo and "Early detection, better outcomes" are registered trademarks owned by Guided Therapeutics, Inc. Forward-Looking Statements Disclaimer: A number of the matters and subject areas discussed in this news release that are not historical or current facts deal with potential future circumstances and developments. The discussion of such matters and subject areas is qualified by the inherent risks and uncertainties surrounding future expectations generally and also may materially differ from Guided Therapeutics' actual future experience involving any of or more of such matters and subject areas. Such risks and uncertainties include those related to the early stage of commercialization of products, the uncertainty of market acceptance of products, the uncertainty of development or effectiveness of distribution channels, the intense competition in the medical device industry, the sufficiency of capital raised in prior financings and the ability to realize their expected benefits, the uncertainty of future capital to develop products or continue as a going concern, the uncertainty of regulatory approval of products, and the dependence on licensed intellectual property, as well as those that are more fully described from time to time under the heading 'Risk Factors' in Guided Therapeutics' reports filed with the SEC, including Guided Therapeutics' Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and subsequent filings.
Scottish Sun
7 days ago
- Business
- Scottish Sun
Little-known way Universal Credit households can get housing help boost worth £6,000
Plus, find out what other help is available if you're struggling with mortgage payments BANK BOOST Little-known way Universal Credit households can get housing help boost worth £6,000 Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) HUNDREDS of thousands of people on Universal Credit or other benefits could be getting extra help with their mortgage payments. A little-known scheme called Support for Mortgage Interest (SMI) is aimed at helping benefit claimants who pay be struggling with their monthly payments. Sign up for Scottish Sun newsletter Sign up 1 Support for Mortgage Interest is available to those on Universal Credit and other benefits Credit: Alamy It can give a boost of hundreds of pounds a month to those who may otherwise be at risk of missing mortgage payments. Roughly 200,000 households receiving Universal Credit have mortgages, according to government figures. SMI is a loan used to pay the interest charges on mortgages. If you're on Universal Credit, SMI will help you pay the interest on up to £200,000 of your mortgage. Those on Pension Credit can get help on up to £100,000 of their mortgage. The interest rate used to calculate the amount of SMI you'll get is currently 3.66%. That means if you have £250,000 of your mortgage left to pay and you're eligible for SMI for up to £200,000, at the current SMI interest rate you'll get a loan of 3.66% of £200,000 across the year. That's equivalent to £7,320 a year or £610 a month. It's worth noting that SMI is not free money and there is a catch. You will need to pay it back as a lump sum when you sell or transfer your home ownership, and there is interest to pay. I'm on Universal Credit & I don't know how to survive - I even lost £600 because my husband decided to get a job, it's just impossible However, it is designed to help people who are struggling with their payments so the interest charged is relatively low. The current SMI repayment rate is 4.1%. Meanwhile the average mortgage rate is currently 4.62% for a two-year fix or 4.58% for a five-year fix, according to Rightmove. The Government can change the SMI repayment rate twice a year. If you die before you've paid off your SMI loan, it will not need to be repaid if your home is left to a surviving partner. But the loan must be repaid if your home is left to anyone else or it's sold. If you're struggling with your mortgage payments it's still worth contacting your mortgage lender for help first. Other people may have enough savings to cover mortgage payments for the short term, so they might opt not to apply for any extra support. Who is eligible for SMI? You can claim SMI if you're on Universal Credit or other specific benefits. The other qualifying benefits are: Income support Income-based jobseeker's allowance (JSA) Income-related employment and support allowance (ESA) Pension credit The scheme was extended in 2023 to make more people eligible. Under the new rules, you only have to have been claiming Universal Credit for a minimum of three months to apply. Before the change, it was available only to those who had been claiming Universal Credit for at least nine months. If you're on Pension Credit you can start getting the loan straight away. Those on Income Support, income-based JSA or income-based ESA must have been on it for 39 weeks in a row. How can you apply? You should contact the office that pays your benefit to find out if you're eligible for SMI. If you get or have applied for income support, income-based JSA or income-related ESA, contact Jobcentre Plus. You can do this by calling 0800 169 0310. If you get or have applied for pension credit, contact the Pension Service by calling 0800 731 0469. Those on Universal Credit can either: Add a message to your journal on your Universal Credit account Contact the Universal Credit helpline on 0800 328 5644. What other mortgage help is available? Missing a payment on your mortgage can have a severe impact on your credit rating. If you struggle with mortgage repayments over a longer period of time, lenders could start legal action that could end up costing you your home. If you think you're going to have a problem with your monthly mortgage repayment you should get in touch with your lender immediately. They have certain schemes in place to help you if you're struggling. You can temporarily ask to switch your mortgage to interest-only, or extend your term to bring monthly payments down. You won't need to to switch your mortgage to interest-only, or extend your term to bring monthly payments down. If you do this it won't affect your credit score for the first six months. If anyone using the temporary measures decides to return to their original plan within six months, they are free to do so. You can also ask your lender about the Breathing Space scheme if you find payments unaffordable. Under this scheme, no debts will earn interest, and no fees will be added for 60 days. You'll be protected from debt collectors and bailiffs. You may also be able to apply for a payment holiday, which is when you don't need to pay anything. However, interest and charges may continue to be added, and missed payments will need to be made in the future. Every company has a different policy, so you'll need to get in touch to find out what support is available to you. Other things you can do include contacting your local council to see if they have any schemes to help struggling families. For example, the Household Support Fund could help you get free cash, food vouchers, or help for bills like rent and energy. You should check what your specific council offers as it varies across different areas. Another option is to check if there's any other benefits you're entitled to. Entitledto's free calculator works out whether you qualify for various benefits, tax credits and Universal Credit. Debt charity StepChange also has a benefits checker which is free to use and won't record your results.
The Sun
21-05-2025
- Business
- The Sun
Next wave of influencer marketing
AMONG the most definining shifts in 21st-century marketing is the rise of social media influencers (SMI). Over the past decade, influencer marketing has evolved from a niche tactic into a core component of digital strategy. Today, brand partnerships with SMI are growing by over 50% annually, underscoring their increasing value and impact. As we look ahead to 2025 and beyond, influencer marketing is entering a bold new phase – one that blends emerging technologies with human connection. What began as a social media trend is now a sophisticated driver of digital commerce. And what's coming next? It is nothing short of revolutionary. Enabling the next generation of smart influence Artificial intelligence (AI) has quietly become the backbone of modern influencer campaigns. In 2025, it will do far more than simply recommend hashtags or determine the best sharing times. It will power end-to-end campaign management. AI-driven platforms are reshaping influencer discovery and matchmaking. They go beyond vanity metrics, analysing tone of voice, creative execution, audience composition and historic campaign performance. This precision allows brands to uncover high-impact micro and nano-influencers who boast high engagement over sheer follower counts. We are also seeing the rise of virtual influencers – synthetic, AI-generated personas such as Lil Miquela or Imma. These avatars are programmable, consistent and free from human unpredictability. Brands can utilise them to deliver consistent messaging, interact in real time with followers and serve as brand ambassadors year-round. AI does not just automate, it learns. Predictive analytics now anticipate campaign fatigue, forecast return on investment and adapt content in real time to optimise engagement. Brands need to implement AI-driven platforms to identify influencers with true resonance, ensure authenticity and automate performance tracking. Web3, smart contracts, decentralised identities While AI maximises efficiency, Web3 changes ownership. Blockchain technologies, smart contracts and decentralised identities enable influencers and brands to partner in new, fairer and more transparent ways. Gone are the days of ambiguity around deliverables or delayed payments. Smart contracts implement campaign terms automatically, paying out when targets are met and monitoring rights usage. Influencers are also embracing Web3 by tokenising their personal brand. Non-fungible tokens (NFT) are emerging as new value exchanges, offering customers exclusive content, experiences or digital goods. Forward-thinking brands are experimenting NFT-based loyalty schemes or co-creating limited-edition drops with Web3-native creators. Decentralised identities further empower creators by allowing them to own their audiences, transferring reputation and influence across platforms without being tethered to any single algorithm or network. Web3 brings radical transparency and new monetisation models. Smart marketers will start integrating token-based activations and decentralised partnerships into their influencer playbooks. Engaging, participatory influence The metaverse is not a concept of the future, it is already here. As digital and real life intersect, influencer marketing is shifting away from 2D digital storytelling to 3D immersive storytelling. Influencers are now organising virtual fashion shows, product launches and question and answer sessions within platforms such as Instagram, Roblox and Fortnite. These environments are blurring the lines between entertainment, commerce and connection. Augmented reality and virtual reality are giving customers the ability to try on makeup, furniture or fashion via influencer recommendations, bridging inspiration with action. Influencers are designing digital wearables, selling them as NFT and integrating them into virtual worlds and games. Meanwhile, brands are investing in branded avatars, 3D showrooms and immersive storytelling to reach audiences where they live physically and virtually. Succeeding in the next era Brands must shift from thinking of influencers as amplifiers to seeing them as strategic collaborators embedded across platforms and experiences. Brands should diversify their creator ecosystem to include not only human influencers but also AI avatars, metaverse-native personalities and Web3 creators. Moreover, brands can experiment with tokenised engagement, such as using NFT, creator coins or decentralised platforms, to deepen loyalty and ownership. Additionally, they can design campaigns that span across platforms, from TikTok to metaverse environments, or through augmented reality glasses. As influence becomes decentralised, trust and belonging rather than reach will be the ultimate measure of success. We are entering a new chapter in marketing, one where AI refines strategy, Web3 redefines collaboration and immersive technologies reimagine how consumers engage. This is not just a moment of change, it is a complete redefinition of what it means to be influential. Brands that recognise this shift now – who build not just for visibility but for trust, belonging and innovation – will shape culture, not chase it. Dr Irfan Hameed is a senior lecturer at the School of Media and Communication, Faculty of Social Sciences and Leisure Management, Taylor's University. Comments: letters@
San Francisco Chronicle
19-05-2025
- Automotive
- San Francisco Chronicle
Drivers say North Wilkesboro Speedway deserves Cup points race after All-Star Race success
For his first act as a NASCAR All-Star Race champion, Christopher Bell chose to praise the revitalized 78-year-old racetrack that delivered a memorable night of racing. 'Let's go!' Bell shouted to roaring approval from a capacity crowd of 25,000 as he made the case Sunday night during his frontstretch celebration that North Wilkesboro Speedway was due a Cup Series points race. 'The best short track in NASCAR,' Bell said. 'It is absolutely incredible. It's just going to get better and better. Man, that was an amazing race.' In its third edition as host of the $1 million exhibition event, the speedway produced All-Star Race records for lead changes (18) and green-flag passes for the lead (59) as its remarkable rebirth continued from a dilapidated and rotting hulk just three years ago. Speedway Motorsports announced that grandstand seating and premium hospitality were sold out for the 41st All-Star Race, which drew fans from 43 states and nine countries to North Wilkesboro, which is 80 miles north of Charlotte. SMI president and CEO Marcus Smith proclaimed that 'like Lambeau Field to football and Fenway Park to baseball, North Wilkesboro Speedway has become America's throwback racetrack.' Bell was among several drivers who say the short track deserves its first Cup Series points race in 30 years when NASCAR releases its 2026 schedule, which is expected in a few months. 'I don't see why not,' seven-time most popular driver winner Chase Elliott said about the possibility after finishing fifth. 'I think it's plenty capable of hosting, and obviously, the crowd seems extremely receptive to the idea, too. Whatever NASCAR decides on that, I'm good with. It put on a good race for sure, so it's hard to argue against that.' Aside from a smattering of minor-league races in 2010-11, North Wilkesboro Speedway had sat dormant since Jeff Gordon won its most recent Cup race on Sept. 29, 1996. A $20 million renovation ( spurred by federal funding from the American Rescue Plan ) began in 2022 and led to being awarded the 2023 All-Star Race. Its first two All-Star Races were lackluster, but North Wilkesboro's racing came to life Sunday. The 0.625-mile oval's surface has widened into multiple lanes since a repaving last year, and Sunday's race featured 1,426 green-flag passes that electrified the jammed grandstands. 'Man, they show up,' Bell said. 'We go out for driver intros, and the place was packed. It's just bumping. We need more events like this.' Joe Gibbs, whose team scored its third All-Star Race victory with Bell joining previous winners Kyle Busch in 2015 and Denny Hamlin in 2017, credited Smith and support from the community for putting the track in line for points race consideration. 'I won't be making that decision,' Gibbs said. 'But I think the way this race turned out and the crowd and everything, that'll have a lot to do with it.' Budding rivalry Already sour about a 'Promoter's Caution' that erased his late lead and left him vulnerable on older tires, runner-up Joey Logano took issue with Bell's winning pass in the No. 20 Toyota. After the drivers made contact that squeezed his No. 22 Ford into the outside wall with nine laps remaining, Logano vowed retaliation if he'd been able to catch Bell. 'I did all I could do to hold him off, and he got under me and released the brake and gave me no option,' said Logano, who led a race-high 139 of 250 laps. 'If I could've got to him, he was going around after a move like that. I just couldn't get back to him. Just frustrated after you lead so many laps, and the car is so fast, and you don't win. It hurts quite a bit.' Bell was bemused by Logano's frustration. 'I had got to him a couple times before, and he made it very difficult on me, as he should,' Bell said. 'I got my run, and I took the moment, as I should. I don't think that I did anything that Joey has not done, and I've seen Joey do much worse. We will continue on.' Notable With top-five finishes by Ross Chastain, Alex Bowman and Chase Elliott, Chevrolet beat Ford and Toyota to win the All-Star Race's first 'Manufacturer's Showdown' that was based on the combined results for each automaker. … Jon Edwards, the former PR rep for Kyle Larson who died last month, was honored with 'The Byrnsie Award' that is voted on by Fox's NASCAR broadcast team in tribute to late broadcaster Steve Byrnes. Fox has presented the award since 2016 to celebrate those who embody Byrnes' principles of preparation, teamwork and family.
