Consumer sentiment in the US fell 2.7% in February from the month before, but was up 14.9% from a year earlier, reaching a reading of 76.9 at month's end compared to 79.6 earlier in the month, according to the University of Michigan gauge. Consumers' annual inflation expectations inched upward to 3%, up from 2.9% a month earlier, while five-year inflation expectations remained at 2.9%.
Imperial Dade is acquiring Texas-based paper and JanSan distributor Brawner Paper Company in its fifth acquisition of the year, following a busy 2023 that included 18 acquisitions. Chairman Robert Tillis said Brawner "is a great strategic fit" and the firm's "relentless focus on customer service aligns with Imperial Dade."
US construction spending declined 0.2% in January to a seasonally adjusted $2.1 trillion, the first monthly decline in more than a year, according to the Commerce Department. Despite the 0.2% month-to-month decline, the January spending figure was 11.7% higher than a year earlier.
AI is the technology on everyone's lips, but beyond that, automating supplier relationship management can reduce human errors, which will provide more accurate data analysis and free up employees to handle tasks that technology cannot, writes Alexandra Jonker. Combining automation with blockchain technology secures information for executing payments, orders and other contract items.
Robotics startup Figure is teaming up with OpenAI to include AI technology in humanoid robots. The project is also receiving $675 million in funding from a venture capital group that includes Amazon's Jeff Bezos, Nvidia, Microsoft and Intel's startup funding division.
Executives will need to learn to live with the "churn and interruption" stemming from turmoil in Europe, the Middle East and Asia that's disrupting global trade flows and supply chains and won't likely end anytime soon, said diplomat Richard Haas during a session at the Retail Industry Leaders Association trade show in Dallas. Haas says supply chain resilience will trump attempts for solutions and create more redundancy through efforts such as duplicate storage and home-, near- or friend-shoring as an "insurance policy."
Nearly 100% of marketers in 14 countries, including the US, are using a form of AI and want to increase usage, per Wakefield Research. While 79% say it can automate routine tasks to give them more time to think and be creative, nearly all say there are challenges when applying AI to creative and strategic tasks, such as showing the return on investment of creativity.
The Securities and Exchange Commission has scheduled a March 6 vote on its final climate-risk disclosure rules in a move that would ensure its work is free from potential Congressional Review Act resolutions should Republicans win the presidency and control of Congress. The full text of the final rules has yet to be released, but it will not include reporting requirements for Scope 3 emissions, which are generated by consumers, supply chains and other indirect sources, according to a person familiar with the matter.
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