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Last month today – June 2022 in review

Emergence of new feedstocks to propel biodiesel production

Government policies favoring the promotion of sustainable projects that save energy and protect the environment are important drivers of growth in the biodiesel market that is projected to reach a revised size of USD 40.2 Billion by 2026 according to Global Biodiesel Market Analysis Report 2022.

The main factor which influences growth is the rising concern over gas emissions by fossil fuels. The soaring prices of non-renewable sources of energy such as due to their limited resources are further driving this development.

Fuel oil blended biodiesel fuel blends are being researched to reduce dependence on petroleum in the transportation sector. Also favoring market growth is the continuous focus on research activities aimed at developing biodiesel products that can replace crude oil.

Vegetable Oils, one of the segments analyzed in the report, is projected to grow at a 4.7% CAGR to reach USD 33 billion by the end of the analysis period.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Animal Fats segment is readjusted to a revised 4.3% CAGR for the next 7-year period. Vegetable oils are easily available, renewable, biodegradable, easy to transport, and provide high heat content. Most of the companies use vegetable oils to produce biodiesel on account of its higher yield and renewability.

First benchmark of European 100 uncovers opportunities to meet job candidates’ high expectations

Phenom, the global leader in Talent Experience Management, released its first-ever State of Candidate Experience Report — European Edition. The comprehensive audit, which assessed the top 100 European companies on the Fortune Global 500 list in three key areas of the talent journey — attraction, engagement, and conversion — revealed there is significant room to improve the experience with personalization and automation.

Requiring three or more clicks to apply for a job is a major roadblock for candidates. The longer it takes for a candidate to find and apply to a relevant job, the greater the chance they will abandon the process and look elsewhere. Candidates are also used to superior tailored experiences in their consumer lives: if finding a job that matches what they want is difficult, they are quick to move on. Dynamic personalization is another way companies can automatically match a candidate’s preferences, experience, skills, and location with best-fit job openings — and surface content for candidates as they move through their own unique end-to-end talent journey across multiple channels.

Failure to communicate status details jeopardizes employer brand and acceptance rates. Using conversational AI chatbots, SMS and email campaigns are examples of how companies can automate individualized communications to keep job seekers engaged while differentiating their brand.

“Hiring, developing, and retaining talent isn’t just an HR priority — it is a business priority. Companies must differentiate themselves by the experiences they provide to their candidates and their employees to sustain,” said Mahe Bayireddi, CEO and co-founder of Phenom.

Crypto industry braced for fallout

According to Financial Times, crypto investors and executives are bracing themselves for further pain after the price of bitcoin tumbled over the weekend, worsening the credit crunch hitting the industry.

Bitcoin, which acts as the main benchmark for the broader cryptocurrency market, has come under acute pressure in recent months as central banks and governments shifted from a prolonged period of ultra-low interest rates to a fight against surging inflation.

“This is a dark winter ahead for crypto as the era of free money comes to an end with this weekend another brutal sell-off across the board. Risk assets are all getting thrown out the window,” said Dan Ives, managing director and senior equity analyst at Wedbush Securities.

The hunt for returns has shifted as big central banks, led by the US Federal Reserve, boost borrowing costs and end the pandemic-era efforts to stimulate economic growth.

Traditional financial markets have been rattled throughput June as traders fretted that the aggressive action could snarl global growth or even trigger a recession. That has contributed to an escalating credit crunch in the digital asset industry that threatens to engulf many of its major actors.

Near term growth looks dim, but European Central Bank aims to assume control over inflation

The European Central Bank’s Governing Council aims to make sure that inflation returns to its 2% target over the medium term.

Lately, inflation has been rising significantly, mainly because of surging energy and food prices, including due to the impact of the war. But inflation pressures have broadened and intensified, with prices for many goods and services increasing strongly. Eurosystem staff have revised their baseline inflation projections up significantly. These projections indicate that inflation will remain undesirably elevated for some time.

However, moderating energy costs, the easing of supply disruptions related to the pandemic and the normalization of monetary policy are expected to lead to a decline in inflation. The new staff projections foresee annual inflation at 6.8% in 2022, before it is projected to decline to 3.5% in 2023 and 2.1% in 2024. This means that headline inflation at the end of the projection horizon is projected to be slightly above the Governing Council’s target. Inflation excluding energy and food is projected to average 3.3% in 2022, 2.8% in 2023 and 2.3% in 2024.

Russia’s unjustified aggression towards Ukraine continues to weigh on the economy in Europe and beyond. It is disrupting trade, is leading to shortages of materials, and is contributing to high energy and commodity prices. These factors will continue to weigh on confidence and dampen growth, especially in the near term.

However, the conditions are in place for the economy to continue to grow on account of the ongoing reopening of the economy, a strong labor market, fiscal support and savings built up during the pandemic. Once current headwinds abate, economic activity is expected to pick up again.

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