Economic Bulletin Oct 2022

EXECUTIVE SUMMARY

Download this full report from the Global Outlook store:  https://bakering.global/product/bulletin-economic-outlook-oct-2022/ 

  • The final quarter of 2022 and 2023 will be challenging as economic and political headwinds are increasing.
  • Recession risks are rising as consumer and industrial confidence indicators are plummeting.
  • Inflation is currently on a 40-year high but will moderate in 2023 because of base effects and tighter monetary policy.
  • Supply chain risk is still above pre-pandemic levels but has fallen in recent months with maritime shipping costs dropping (also linked to the weaker economic outlook).
  • Payments performance in Europe improved in mid-2022 but Ireland and the UK performed against the trend and saw longer delays in B2B payments. • The number of business failures in the EU rose in April-June 2022, a fifth consecutive quarter of increase.
  • That said, the number of business failures still stands below pre-pandemic readings and some countries (such as Germany and Italy) still continue to report improvements.
  • Looking ahead, credit risk in Europe will rise as the economy is slowing, interest rates are rising quickly and banks are likely to tighten lending. • Elections in France, Sweden and Italy in Q2 and Q3 2022 ended with at least partial victories of antiestablishment far-left and far-right parties
  • Policy making will become more complicated as approval ratings for incumbent governments will fall amidst a cost of living crisis and the looming recession.
  • Companies should assess counter-party risks closely and team up with trusted advisors to minimise the adverse impact of the deteriorating political and economic environment.

Download this full report from the Global Outlook store: https://bakering.global/product/bulletin-economic-outlook-oct-2022/

 


New Report: Media in the USA 2022

EXECUTIVE SUMMARY

Download this full report from the Global Outlook store:  https://bakering.global/product/report-media-in-the-usa/ 

The US is the world biggest market in the media sector, with one third of the total global media revenues. Moreover, its global influence and leadership is unparalleled in shaping the industry, imposing new trends and innovative business models. The US is home of the core of the content produced by biggest studios in the world -such as Warner, Disney, Viacom- that is distributed worldwide and dominates the world’s cultural life. More recently, the US has been the epicentre thousands of companies that make, contribute to and support digital media, drive innovation and shape the sector, such as Netflix, Amazon, Google (YouTube), or Meta in social media and metaverses.

This global leadership has huge consequences, and recent shocks have placed obstacles in this dominant position which was, until recently, unchallenged. The trade war with China, exacerbated by China’s “Great Firewall” policy which restricts the entry of foreign company (especially social media) into its territory, placed media at the heart of the commercial and diplomatic conflict; the war in Ukraine further contributed to placing on top of the agenda media companies and the strategic role they play in international spheres, from a commercial, propaganda and diplomatic perspective.

Amid this context, China’s high-tech sector developed very rapidly. With huge economies of scale, it was able to create mirror companies to the US dominant ones in each segment. These companies are now becoming key players at global level, with leadership in some areas of the world. Their popularity in the US with the rise of some services like social media TikTok (owned by Chinese ByteDance) or messaging service WeChat (owned by TenCent) are of concern not only for the US media sector, but also for the US diplomatic sphere. In 2020, former President Trump threatened to ban the ByteDance and Tencent in its territory.

In the past decades, the US media sector saw a huge activity in mergers and acquisitions and innovation, with the consolidation of Disney’s catalogue for example -through the acquisition of Marvel, LucasFilms and more recently 21st Century Fox- and the emergence of Netflix and social media. The rapid deterioration in the macroeconomic development -with a sudden increase in interest rates- is expected to inaugurate a new phase in the media market. The pace of mergers and acquisitions may slow down, and the innovation efforts of some companies (commercial, technological, consumer-driven services) may also decelerate. The sector will however continue to see innovations and new areas of development such as the metaverse are likely to be shaping it in the coming years.

The sector still benefits from a huge domestic market which allows it to develop content and new products with large economies of scale and to remain globally extremely competitive. At domestic level, Americans are amongst the biggest consumers of media, laying the base of an extremely strong internal market. Pre- COVID, Americans were consuming more than 12 hours of traditional and digital media per day, vs a world average of 7.5 hours. Combined with a population of 332 million inhabitants whose average purchase power is high, the domestic demand is high and fuelling a sector that has grown extremely concentrated and competitive.

Download this full report from the Global Outlook store:  https://bakering.global/product/report-media-in-the-usa/ 


World Credit Congress & Exhibition 2022

Next stop....Dublin!

Join us at the 7th World Credit Congress taking place in Dublin, Ireland on 11th and 12th October 2022.

The Baker Ing team will be attending on both days. Please feel free to book a pre-arranged slot for a chat with the team, or simply pop-by Stand 26.

We look forward to seeing our partners, friends and clients at this event in this great city. 


Tokio Marine HCC partnership

 

Tokio Marine HCC partnership

We are delighted to work ever more closely with our friends at Tokio Marine HCC, supporting the company's global clientele with all their international debt recovery requirements. Tokio Marine HCC is a leading specialty insurance group transacting business in 180 countries and underwriting more than 100 classes of specialty insurance. Our integrated service model ensures seamless delivery of Baker Ing's AR expertise to complement Tokio Marine HCC's market-leading insurance offering.

 


30th June 2022: Leveraging Non-Financial Data

As always, we're bringing together economists, senior leaders from the credit industry, and what we encourage to be an opinionated and interactive audience of credit professionals from across the globe. Let's get to the bottom of non-financial data and what it means for us,

Register to attend this upcoming webinar on leveraging non-financial data in credit management taking place 30th June 2022.

https://us02web.zoom.us/webinar/register/6516476070769/WN_9kUVZ2OGS-efaXQK8LSWeA 


Report Update: Tokio Marine HCC

 

Report Update: Media in Europe March 2022

Baker Ing have noted an 18% increase in debt placement from our media clients this year. Learn what could be driving this activity in our Media Europe report, now updated with exclusive commentary from our partners Tokio Marine HCC.

Learn more about Media in Europe with this new report or download in full from: https://lnkd.in/ey6TSJ_p


New Report: Media in Europe 2022

 

New Report: Media in Europe March 2022

The media sector directly impacts us all and is consistently one of the most dynamic, innovative and high-value sectors of the global economy. Recent events have accelerated digital adoption but, equally, there has been a move in many jurisdictions to tighten regulation and, as ever, inflation looms as a restraining force. As online media matures, we see consolidation in markets with traditional players increasingly securing positions of dominance... significant opportunities for challengers remain, however. Learn more about Media in Europe with this new report or download from: https://lnkd.in/ey6TSJ_p


New White Paper: Higher-Risk Accounts for Competitive Advantage

 

New White Paper: Higher-Risk Accounts for Competitive Advantage

At a time of global economic turbulence and fast-changing events, many credit professionals are tightening credit policy and moving to a risk-averse position. Counterintuitively however, we observe an increasing number of seasoned credit directors viewing this period as a time of opportunity to increase their influence within their organisations by working ever more closely with their sales colleagues and increasing the efficiency of credit policies to provide a source of competitive advantage which competitors not only do not possess but, rarely even consider. In adopting a growth mindset, in conjunction with forward-looking technologies and best practice, best-in-class credit professionals are increasingly becoming central to many companies’ capacity to control risk whilst simultaneously exploiting such as an engine to capture market share. Get an overview of the most common approaches to leveraging higher-risk accounts as a source of competitive advantage in this new white paper:

Read the full paper on Global Outlook.


Silverback Law partnership

 

Silverback Law partnership

Baker Ing welcomes Silverback Law to our roster of international partners.Specialising in all aspects of commercial debt recovery and litigation, Silverback deliver precision enforcement solutions.


A step-change in our data capabilities.

We are proud to announce a step-change in our data capabilities with the addition of real-time credit risk feeds, shared payment intelligence and predictive analytics. This will transform the way we monitor, manage and respond to changing debtor risk on your behalf. These enhancements are being rolled out presently and will be deployed to all client accounts over the coming weeks. Please contact Gemma Griffiths for more information in the interim.