On Thursday, Shares of Cisco Systems, Inc. (NASDAQ:CSCO), lost -0.39% to $28.40.
The effect of digital disruption on business has the potential to overturn incumbents and reshape markets faster than perhaps any force in history, according to a new report released recently by the Global Center for Digital Business Transformation (DBT Center), an initiative between Cisco Systems, and the International Institute of Administration Development (IMD) in Lausanne, Switzerland.
The report, entitled Digital Vortex: How Digital Disruption is Redefining Industries, is the first from the DBT Center. The report investigated the state of digital disruption and the outlook for industries through a survey of 941 business leaders in 12 industries and 13 countries counting Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, United Kingdom, and the United States.
The results of the study show that digital disruption will displace about 40 percent of incumbent companies in each of the 12 industries studied for the report within the next five years. Despite digital disruption’s potential to overturn incumbents and reshape markets, the survey indicated 45 percent of companies do not believe digital disruption merits board-level attention.
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP) based networking products and services related to the communications and information technology industry worldwide. It provides switching products, counting fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and NGN routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
Shares of Avis Budget Group, Inc. (NASDAQ:CAR), declined -4.98% to $45.84, during its last trading session, hitting its lowest level.
Avis Car Rental has strengthened its presence in Asia with the opening of new facilities in China, Hong Kong, Laos, Malaysia, Singapore and Taiwan. The Company also expanded its pick-up location service in Indonesia, enabling customers to conveniently rent Avis vehicles at four new destinations there.
Avis provides vehicle rental services at more than 300 locations in 20 Asian countries, from Brunei to Vietnam. The Company has a long history in Asia, having opened its first location in Hong Kong in 1970.
The new facilities are located near transportation hubs or within hotels at popular tourism destinations. These comprise:
- China - in the heart of Clearwater Bay town center and Boao in Hainan
- Hong Kong - in Centre Point on Gloucester Road in Wan Chai
- Laos - in the center of Ban Phonsavangtay in Savannakhet
- Malaysia — at the Holiday Inn Melaka in Malaysia
- Singapore — at the Orchard Hotel on Orchard Road in Singapore
- Taiwan — at the Accor Novotel in Taipei and at the Banqiao and Taichung train stations
Avis is owned by Avis Budget Group, Inc. (CAR), which operates and licenses the brand throughout the world.
Avis Budget Group, Inc., together with its auxiliaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. The company has three segments: North America, International, and Truck Rental.
Finally, LendingClub Corporation (NYSE:LC), ended its last trade with -1.23% loss, and closed at $16.06, hitting its lowest level.
On June 15, At CGI America, President Bill Clinton declared a Commitment to Action between Lending Club (LC), and Opportunity Fund, a national leader in community-based lending to small businesses.
“Access to capital for entrepreneurs is key to restoring real economic mobility, job creation and the economic health of the middle class. Opportunity Fund and Lending Club are committed to pilot an unprecedented partnership,” declared President Clinton.
This pilot program is intended to provide up to $10 million in loans to small businesses in underserved areas of California, assisting an estimated 400 businesses create 1,000 jobs, based on historical impact data collected by Opportunity Fund. The partnership was developed as part of the Community Investment Working Group.
LendingClub Corporation operates as an online marketplace for connecting borrowers and investors in the United States. Its marketplace facilitates various types of loan products for consumers and small businesses, counting unsecured personal loans, super prime consumer loans, unsecured education and patient finance loans, and unsecured small business loans.
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