Latest news with #APAC
Courier-Mail
2 hours ago
- Business
- Courier-Mail
Short term rent hosts' shock plans
A shocking 88 per cent of Australian Airbnb hosts warn they won't offer their homes on the long-term rental market even if regulations are introduced or increased. This off a new survey that also found close to half threatened to leave properties empty rather than go to long-term rentals. A recent study by market research company YouGov has found even threats of night caps – which are proposed limits on the number of nights per year a host can lease out their property – have failed to move them. MORE: Named: Every bank that's slashed rates to under 5pc Shock as Aus big bank increases interest rates The survey which was commissioned by Airbnb revealed that two-thirds of the respondents believe their property couldn't transition from a short-term rental into a long-term rental. Respondents told the survey this was due to the properties being used as either a primary residence, secondary residence, holiday homes or believing overall it was unsuitable for long-term rental. APAC Manager at Hospitable Ethan Brown, who examined the impact of Victoria's 7.5pc short-stay accommodation levy introduced at the start of 2025, found some alarming results. 'There has been no improvement with rental vacancy rates as they remain at an extremely low 1.8pc and Melbourne's rent rose 2.8 pc in the last year,' he said in a statement. MORE: Aus landlord's epic council battle ends in demolition Explosive reform of negative gearing, capital gains perks 'There is also no evidence that this levy has seen short-term rentals shift to the long-term options and regional communities who rely on visitors now face higher costs without any benefit in return.' A University of Canberra research survey published in January 2025 found there were just under 134,000 properties listed as short-term rentals in Australia in 2023, which was a 22.8pc surge on the previous year. As of right now the figure is as high as 170,000 listed short-term rental properties, which is a further 26.7pc increase over the 2023 numbers. MORE: Cash-strap student turns $40k to 38 homes Govt pays $3.3m for unliveable derelict house The industry has argued that Airbnb hosts make up less than 2pc of the entire housing dwellings in the country, but critics say there are areas which are short-term rental heavy which increases pressure on rental prices. Queensland has become a magnet for short term rental hosts, given its minimal state-based regulations, better value property prices and higher investment returns. Popular holiday areas such as the Gold Coast, Sunshine Coast and Whitsundays have had major population increases which has translated into minimal vacancy and stronger rental prices. MORE REAL ESTATE NEWS
Finextra
12 hours ago
- Business
- Finextra
New Zealand's Co-operative Bank selects 10x Banking for core replacement
The Co-operative Bank, the only customer owned bank in New Zealand to share profits with its customers, has become the first bank in New Zealand to select 10x Banking, the cloud-native core banking platform, to lead a multi-year project of core migration and digital transformation. 0 The partnership will deliver leading core banking infrastructure for The Co-operative Bank (through a phased full-platform migration) which will position the bank for future growth and continue to enable better banking for its 180,000+ customers. The Co-operative Bank is 10x's first customer in New Zealand, underscoring their focus and investment in the APAC region. The announcement follows the news that 10x Banking is powering the UK's eighth largest building society, West Brom Building society, underscoring accelerating momentum for digital innovation across the mutuals and cooperative banking sector globally. The Co-operative Bank was recently named Consumer NZ People's Choice Award winner for the fourth consecutive year. To further enhance its acclaimed customer experience with innovative digital solutions, the bank chose 10x Banking as the foundation for its next phase of growth. With personal banking customers across New Zealand, the bank sought a platform to improve efficiency and accelerate digital innovation - while preserving its customer-first ethos. Mark Wilkshire, Chief Executive Officer at The Co-operative Bank, commented: "10x is a great partner for The Co-operative Bank because they fundamentally understand what matters to us as a customer-owned B-Corp - putting customers before profits. This partnership allows us to preserve our unique values while building leading, responsive banking services our customers deserve. For our customers, whether they're saving for a first home or managing everyday finances, this partnership helps ensure we'll be equipped to support their financial lives today and for the future." Anthony Jenkins, Founder and CEO at 10x Banking, added: 'This partnership deepens our commitment to the mutual and co-operative sector globally, building on recent successes with member-focused institutions across APAC, Europe and the UK. The Co-operative Bank's customer-first values perfectly align with our mission to make banking ten times better for everyone, and as fellow B-Corps, we share a cultural DNA. We're proud to support their journey as they build the digital foundations for their next century of service." A shared purpose and values The Co-operative Bank's digital transition supports an objective to drive growth, attracting community-minded Kiwis, and develop deeper relationships with customers to support them in the long term. Notably, both organisations are B-Corp certified - a strong foundation for a partnership that will enable The Co-operative Bank to preserve its customer-focused heritage while building agile, leading digital services for the future. The 10x platform will enable comprehensive transformation across a phased migration providing continuity for the bank's customers while unlocking real-time product innovation, a smooth experience across all platforms, and operational efficiencies - critical for long term sustainability for The Co-operative Bank and its profit-sharing model that has returned over $24 million to customers since 2013. Lewis Ide, Senior Vice President, APAC at 10x Banking, said: "New Zealand is a dynamic market undergoing rapid transformation. By partnering with The Co-operative Bank, we're bringing our cloud-native platform to a uniquely customer-focused, community-owned institution. We see this as a pivotal moment in APAC's banking evolution - one where technology empowers banks of all sizes to scale new heights and deliver the secure, and personalised experiences customers expect. We're excited to work together to build better banking experiences for New Zealand's customers over the next century."
Yahoo
18 hours ago
- Business
- Yahoo
American Standard Design Award 2026: Calling APAC Design Students to Reimagine the Bathroom
American Standard challenges young designers to create bathrooms of the future that addresses our evolving needs. SINGAPORE, Aug. 11, 2025 /PRNewswire/ -- LIXIL global power brand, American Standard, is proud to launch the fourth edition of the American Standard Design Award (ASDA) 2026. ASDA is a bathroom space design competition for young designers in Asia-Pacific (APAC) to showcase their creativity and put their theoretical knowledge into practice. This year marks the 150th anniversary of American Standard, a brand that has been designing products that are inspired by life - transforming everyday routines into meaningful experiences. To celebrate this special milestone, ASDA 2026 invites future designers to embrace this legacy by showing us how residential bathrooms of the future can address our evolving needs under the theme of "Inspiring Everyday Living". The bathroom is a place where families bond, individuals find solace, and the most modest and compact spaces become the backdrop for unforgettable moments. "Celebrating 150 years of purposeful innovation inspired by life at American Standard, we are proud to launch the fourth edition of the ASDA Bathroom Design Competition. With a legacy built on inviting and dependable design with pioneering technology, the brand continues to champion solutions that enrich daily life. This year's theme, 'Inspiring Everyday Living,' invites aspiring designers to reflect on how the bathroom can address our evolving needs and become a meaningful extension of how we live, connect and feel," said Antoine Besseyre des Horts, Leader, LIXIL Global Design, Asia. Last year's competition drew nearly 3,500 registrations and over 1,000 submissions from nine countries. ASDA 2026 is open to full-time undergraduate students studying architecture or interior design in Cambodia, Indonesia, Laos, Myanmar, the Philippines, Thailand and Vietnam. Registration for ASDA is free and opens on 11 August 2025 with the entry submission deadline on 4 January 2026. A panel of architecture and design luminaries will judge all the entries to announce national winners in April 2026. These winners will advance to compete for the APAC Grand Prize in May 2026. The top three winners at the national level stand to win cash prizes between USD 1,000 to USD 2,000 and the APAC Grand Prize Winner will walk away with an additional USD 3,000 along with a chance to attend a Masterclass by LIXIL Design Leaders. For more information about ASDA and entry requirements, please visit the ASDA website at *END* About American Standard American Standard makes life healthier, safer and more beautiful at home, at work and in our communities. For 150 years, the brand has innovated and created products that improve daily living in and around the bathroom and kitchen for residential and commercial customers. American Standard is part of LIXIL, a global leader in housing and building materials products and services. Learn more at and follow us on LinkedIn. About LIXIL LIXIL (TSE Code 5938) makes pioneering water and housing products that solve every day, real-life challenges, making better homes a reality for everyone, everywhere. Drawing on our Japanese heritage, we create world-leading technology and innovate to make high quality products that transform homes. But the LIXIL difference is how we do this; through meaningful design, an entrepreneurial spirit, a dedication to improving accessibility for all and responsible business growth. Our approach comes to life through industry leading brands, including INAX, GROHE, American Standard and TOSTEM. Approximately 53,000 colleagues operating in more than 150 countries are proud to make products that touch the lives of more than a billion people every day. Learn more at View original content to download multimedia: SOURCE American Standard
Yahoo
3 days ago
- Business
- Yahoo
Under Armour Inc (UAA) Q1 2026 Earnings Call Highlights: Navigating Revenue Declines and ...
Revenue: Declined 4% to $1.1 billion. North America Revenue: Declined 5% due to decreased full price wholesale and lower e-commerce sales. EMEA Revenue: Increased 10% (6% adjusted for currency), with growth across all channels. APAC Revenue: Decreased 10% on both reported and currency-neutral basis. Latin America Revenue: Declined 15%, 8% on a currency-neutral basis. Wholesale Revenue: Declined 5% with lower full price and distributor sales. Direct-to-Consumer Revenue: Declined 3%, with a 12% decline in e-commerce sales. Licensing Revenues: Increased 12%. Apparel Revenue: Declined 1%. Footwear Revenue: Down 14% across all categories. Accessories Revenue: Grew 8%. Gross Margin: Increased by 70 basis points to 48.2%. SG&A Expenses: Decreased 37% to $530 million. Operating Income: $3 million; adjusted operating income was $24 million. Adjusted Diluted EPS: $0.02 for the quarter. Inventory: $1.1 billion, a 2% increase year-over-year. Cash Balance: $911 million. Tariff Costs: Estimated $100 million in additional costs for fiscal '26. Warning! GuruFocus has detected 3 Warning Sign with UAA. Release Date: August 08, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Under Armour Inc (NYSE:UAA) is undergoing a bold reinvention to become a sharper, more focused brand, blending sports, style, and innovation with financial discipline. The company is seeing brand health improvements, with cultural relevance returning and increased interest from talent wanting to join. EMEA is outperforming, and North America and APAC are on paths toward better stability, with team sports heating up and digital engagement increasing. Under Armour Inc (NYSE:UAA) has achieved significant progress in realigning its product engine, simplifying operations, and positioning itself to better serve athletes, customers, and shareholders. The company is on track to meet its goal of reducing SKUs by 25%, which is expected to lead to sharper execution and better pricing. Negative Points Under Armour Inc (NYSE:UAA) is facing challenges from limited spending, higher promotions, and a dynamic domestic tariff policy. The company reported a 4% decline in first-quarter revenue, with North America revenue declining 5% due to decreased full-price wholesale business and lower e-commerce sales. APAC revenue decreased 10% due to weak consumer confidence amid a highly competitive and promotional market. Footwear revenue was down 14% in the quarter, reflecting a challenging consumer demand environment and deliberate work to optimize the business. The company is facing approximately $100 million in additional tariff-related costs, which, along with softer-than-expected demand, is projected to reduce profitability to about half of last year's levels. Q & A Highlights Q: How are tariffs impacting demand from your wholesale channel partners, and what are some signs of improving brand health in North America? A: Kevin A. Plank, President and CEO, explained that while the tariff environment is challenging, Under Armour is focusing on creating unique products that only UA can make, which helps mitigate tariff impacts. He noted that brand health is improving, with increased traction in base layer products and rising brand perception among 18 to 34-year-olds. Retailer confidence is also growing, with positive comps in men's and women's apparel at key retailers. Q: Can you discuss the SKU cleanup and promotional strategy in the context of the Q2 revenue guide? A: David Bergman, CFO, stated that Q2 is expected to be the toughest quarter, with North America facing a low double-digit decline due to order book challenges and traffic issues. While progress was made last year in reducing promotions, the current environment makes further progress difficult. The focus remains on maintaining discipline and not regressing in promotional strategies. Q: How is Under Armour engaging the 16 to 24-year-old demographic, and what improvements are being seen? A: Kevin A. Plank highlighted that brand perception is improving among 18 to 34-year-olds, with increased brand awareness. The company is seeing positive engagement with new sportswear styles and partnerships with influencers, which are helping to give the brand more relevance and permission among younger consumers. Q: What are the key factors contributing to the North America sales decline in Q2, and are there any cancellations tied to price increases? A: David Bergman noted that the decline is due to a challenging Spring/Summer '25 order book, traffic challenges, and a promotional e-commerce environment. There have been no significant cancellations tied to price increases, but footwear is facing more headwinds than apparel. The company expects improvement in the back half of the year as new products are introduced. Q: How is Under Armour addressing the current macroeconomic challenges in North America, and what actions are being taken in DTC channels? A: Kevin A. Plank expressed confidence in the brand's momentum, particularly with core products like base layers. David Bergman added that the company is maintaining discipline in e-commerce promotions and enhancing product assortments in Factory House stores to drive conversion despite traffic declines. The focus is on improving sales quality and creating a premium marketplace. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Forbes
4 days ago
- Business
- Forbes
See The Best Under A Billion List Of Asia-Pacific's 200 Small And Mid-Sized Companies In Forbes Asia's August Issue
Nikhil Sawhney, vice chairman and managing director of Triveni Turbine. Forbes Asia August 2025 cover S mall and midsized enterprises are a key driver of global economic growth. For over two decades, the best-performing of such companies in the Asia-Pacific region have been highlighted in our Best Under A Billion list. This annual compilation picks 200 companies with sales above $10 million and below $1 billion that are at the top of their game, based on financial and other metrics. Best Under A Billion 2025 Illustration by Terri Po for Forbes Asia A closer look at this stellar group of fast-rising businesses, identified this year by list editors Ardian Wibisono and Yessar Rosendar, from a pool of over 19,000 candidates, reveals emerging trends and often, the hard-charging entrepreneurs behind them. Our cover story subject is one such example. India's Nikhil Sawhney is the vice chairman and managing director of Triveni Turbine, a company appearing on the list for the second year in a row. The Cambridge-educated Sawhney converted his family's domestic maker of steam turbines into a global player of repute in the sub-100 megawatts segment. Nikhil Sawhney, vice chairman and managing director of Triveni Turbine. Harshith Dambekodi for Forbes Asia As Sawhney recounts, since the Triveni brand was virtually unknown compared with the mighty multinationals it competes with, such as Germany's Siemens Energy, he did what minnows have to do: tried harder. This translated into making investments in building the company's tech muscle, which now enables it to offer cost-efficient, customized machines to its clients, who also appreciate Triveni's after-sales service, another big focus of this third-generation entrepreneur. Mariana Beatriz Zobel de Ayala, managing director at Ayala Corporation. geric cruz for forbes asia This edition also spotlights another multigenerational business, which has stood the test of time and is part of the Philippines' 191-year-old Ayala conglomerate. In March, the Zobel de Ayala family picked next-generation family members to drive the group's future: Mariana Beatriz Zobel de Ayala along with her brother Jaime Alfonso and cousin Jaime Urquijo. The eldest daughter of group chairman Jaime Augusto Zobel de Ayala, Mariana was named managing director of holding company Ayala Corp. with a mandate to oversee the makeover and expansion of the family's vast property portfolio under Ayala Land. The eighth-generation scion doesn't take her new role lightly. As she admits: 'It's a huge responsibility.' Mariana's grandfather, 91-year-old Jamie Zobel de Ayala, is among the wealthiest persons in the Philippines, listed at No. 7 with a net worth of $3.4 billion on the list of Philippines' 50 Richest, another notable compilation in this edition. Despite a fall in the benchmark stock index caused by investor jitters over U.S. tariffs, the wealth of the country's tycoons rose 6% to $86 billion. At a time when immigration has become a hot-button issue in the U.S., the list of America's Richest Immigrants featured in these pages is quite an eye-opener. At the top of this ranking of 125 immigrant billionaires with U.S. citizenship is South Africa-born Elon Musk, with Google's Sergey Brin, who hails from Russia, at No. 2; and Nvidia's Taiwan-born founder Jensen Huang in third place. Altogether there are 40 immigrant billionaires from Asia. Of these, a dozen are from India, forming the biggest cohort of immigrant billionaires in America. As always, comments welcome at executiveeditor@
