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By the end of World War II, Theo and Karl Albrecht took over the small grocery store of their mother to make it become one of the most successful discount supermarket chains in the world. ALDI operates according to the  motto “the best quality at the lowest price.” The company generated €24.2 billion in revenues in 2020. The ALDI origin story: the low-cost business model In 1913, Frau Anna opened a small grocery store in the suburb of Essen, Germany. By the end of World War II, Karl and Theo, Anna’s soon took over their mother’s business, and run it with the motto…

Scaling a new venture will take you through some exciting milestones: your first sale, your first paid employee, your first physical location. As your business grows, you may find yourself making plans to expand your inventory, launch a new product line, or even take on a new geographic market or customer segment. But growth comes with costs, and your business’s initial capital can get you far. But there are likely going to be cases where you’ll need some fresh financing. Planning may be the difference between successfully scaling to the next profitable level—or growing your way into an unexpected bankruptcy.…

“If they don't cut rates this month, they should send a strong signal that they will in September,” Lemmack wrote. The Fed next meets on July 30-31, and markets are currently pricing in just a 5% chance of a rate cut then. “The labor market remains healthy, but tightening policy has taken a toll,” economist Julia Coronado wrote. “Inflation is also slowing, so there's no need to keep nominal rates pinned at 5.5%.” This follows Wednesday's ISM service report: Unexpectedly contractedIt was at 48.8 (50 is the dividing line between whether a sector is expanding or not). Meanwhile, manufacturing, which…

As the summer holidays approach, businesses across Wales are looking at how they can support employees with childcare responsibilities. Childcare is expensive and, in some rural areas, almost non-existent, forcing parents and guardians to make tough choices, with some using up their annual leave or unpaid parental leave to care for family members during the holidays. While working from home may be beneficial for workers juggling family responsibilities, the summer holidays highlight how childcare support is a key issue for the UK economy, with businesses having to balance business growth and productivity with supporting employees with home challenges. The summer…

2 months old New River BBQ Owner Brooks Sherman said the business started out as a food truck that operated in Salt Lake City, Utah, for several years.His truck now serves as the home base for his former Utah mobile eatery. Slopeside Smoke ShackThe car was parked on Roanoke Road near Interstate 81, with a smoker inside. Sherman said the vehicle is adjacent to a restaurant he owns with his sister, Katherine. New River Barbecue owners and operators, sister and brother Brooks and Katherine Sherman, are serving up beef brisket, mac and cheese and coleslaw. Matt Gentry, The Roanoke Times…

Italian airline ITA Airlines is beating a business plan drawn up last year as the Lufthansa Group prepares to invest in the company. Last March, ITA's board of directors approved “the business plan that had already been shared with Lufthansa” as the German airline group worked towards finalising a deal to acquire a 41% stake in the Italian carrier. Speaking at a press conference in Rome on July 3 after the European Commission conditionally backed the deal, Spoer said ITA's performance was exceeding expectations. “I am very pleased to say that ITA's current performance is outperforming the joint business plan…

He said his company had “suddenly abandoned” a short video promotional project in the Philippines following the kidnapping and murder of a Chinese and a Chinese-American on June 24.According to financial news outlet Yicai Global, one of the victims was the international marketing director for Hong Kong-listed Rainmed Medical Limited, while the other worked as a distributor for a cardiovascular medical device company. Both had visited the Philippines on business just days before the murders. 02:37Philippine Navy admiral at the center of “New Deal” furor breaks silence on alleged South China Sea dealPhilippine Navy admiral at the center of “New…

He said his company had “suddenly abandoned” a short video promotional project in the Philippines following the kidnapping and murder of a Chinese and a Chinese-American on June 24.According to financial news outlet Yicai Global, one of the victims was the international marketing director for Hong Kong-listed Rainmed Medical Limited, while the other worked as a distributor for a cardiovascular medical device company. Both had visited the Philippines on business just days before the murders. 02:37Philippine Navy admiral at the center of “New Deal” furor breaks silence on alleged South China Sea dealPhilippine Navy admiral at the center of “New…

The Law Society of England and Wales has responded to the Solicitors Regulation Authority's (SRA) consultation on its business plan and budget for 2024-2025.The SRA says its business objective is “to enhance trust and confidence in legal services”. Its business plan, which comes into force in 2023 and runs until 2026, outlines key priorities for the regulator, including issues around diversity and inclusion. The SRA says it will “investigate and address persistent EDI issues, including professional testing and enforcement activity”. The SRA has committed to “proceeding with plans to introduce an EDI assessment framework”.Regulators said they would improve enforcement methods,…

The United States Agency for International Development (USAid) says a recently launched ecotourism scheme will ensure local communities benefit from natural resources and improve their livelihoods. Recently, an ecotourism scheme was launched in Nyangambe Conservation Area, Chiredzi. USAid Mission Director Jane Davis said the plan will promote sustainable development and economic growth in the region. “This will provide a blueprint and guidelines for local communities, private sector partners, the Government of Zimbabwe and other stakeholders to identify opportunities to invest in conservation that will benefit everyone in the community,” she said. “The business plan identifies the product lines, infrastructure and…