Increase tech firm layoffs to the checklist of headwinds going through the Bay Space housing industry.
Increasing mortgage loan costs, economic downturn fears and a unstable stock current market have all tamped down dwelling sales and costs in new months from document-environment pandemic highs.
Now, coming into the customarily slow winter real estate year, rising uncertainty in the region’s main marketplace is offering would-be customers a different rationale for pause.
“We have customers who have been in and out of on the lookout at purchasing,” reported Silicon Valley real estate agent Mary Pope-Useful. “One of them performs at … Facebook, and they explained. ‘I did not get laid off, but it doesn’t seem like a fantastic time to make a major acquire.’”
By now, there are indications an unstable tech field could be dragging down household prices. In Oct, the median expense of existing single-relatives homes in the Bay Space was down 2{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} from the similar time in 2021, to a continue to-dear $1.2 million, in accordance to details launched this week from the California Association of Realtors.
That drop was even steeper in tech-heavy San Francisco and San Mateo counties. Rates in San Francisco fell 7{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} to $1.7 million, whilst San Mateo household price ranges tumbled 10{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} to $1.9 million.
In the region’s other Silicon Valley county, Santa Clara, price ranges ended up flat calendar year-over-year at $1.6 million — but were down 4.4{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} from the thirty day period just before.
Oscar Wei, deputy chief economist with the Affiliation of Realtors, said the affect of tech layoffs in the Bay Spot really should be strongest in the coming winter months when homebuying generally slows.
“When you glimpse at profits exercise before the close of the calendar year, it’s probable heading to be relatively slower than what we earlier believed,” Wei said.
But he expects superior mortgage loan premiums to continue on getting the most major aspect impacting household price ranges — which despite latest declines are nevertheless up in the Bay Spot as significantly as 30{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} from just in advance of the pandemic.
Last month, home loan premiums soared previously mentioned 7{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} for the initially time in extra than 20 decades, additional than double the historic-reduced 3{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} regular price in 2021.
The growing premiums came as a consequence of the Federal Reserve boosting the price of borrowing to gradual inflation. For quite a few potential buyers, which is meant that even as house prices have softened, the actual price tag of homeownership for most purchasers has gotten much far more high-priced.
This week, there was a little bit of reduction: The typical amount on a 30-12 months-preset mortgage fell to 6.6{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} — the premier fall because 1981 — as inflation starts to awesome.
Even so, the typical month to month payment on a $1 million house in the Bay Region is presently $6,422, in accordance to a Real estate agent.com calculator. This time past yr, when premiums ended up at just above 3{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}, the regular payment on a house that price tag would have been $4,708.
(Monthly payment estimates include things like house taxes and insurance coverage and suppose a 20{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} down payment.)
Now, turmoil in the tech industry is adding a new challenge. Even before Fb, Twitter and Amazon recently introduced massive layoffs, tech firms had been shedding hundreds of community jobs as revenue fell and a recession seemed more very likely.
While several of these really skilled personnel may well uncover work opportunities in other industries, the moves “could ship a signal to everybody” that the economy and housing sector “are susceptible mainly because it will lead to a broader slowdown,” stated Stephen Levy, director of the Palo Alto-based mostly Center for Continuing Review of the California Financial state.
Levy pointed out a popular freeze in tech hiring could also interesting housing costs.
“To the extent that new tech staff were being a source of demand from customers for bidding up prices, that is possible to vanish for a though,” he said.
Pope-Handy stated possible homebuyers in the tech field also are experience the ups and downs of the inventory marketplace. As a consequence, a lot of have been reluctant to cash out their sizable expenditure portfolios to acquire a household.
But Pope-Helpful mentioned yet another tech trend truly could spur need for houses: Tech providers, notably Elon Musk’s newly acquired Twitter, are beginning to limit employees’ solutions for distant perform, forcing them to shift back to the Bay Region for their positions.
“Whenever we see the industry flip down for a bit,” she mentioned, “it doesn’t continue to be down forever.”
On the eve of the 2022 Environment Cup in Qatar, FIFA President Gianni Infantino introduced a tirade versus Western critics of the controversial event in an explosive hour-prolonged monologue.
Infantino, the manager of entire world soccer’s governing overall body, seemed on glumly as he addressed hundreds of journalists in Doha, Qatar, Saturday.
“We are taught numerous classes from Europeans, from the Western planet,” he said, referring to criticisms of Qatar’s human legal rights document.
“What we Europeans have been doing for the very last 3,000 many years, we really should be apologizing for the upcoming 3,000 a long time just before setting up to give ethical lessons.”
Irrespective of the opening match kicking off on November 20, Infantino hardly spoke about soccer and centered his attention on what he named the “hypocrisy” of Western criticism.
In a outstanding press conference, Infantino seemed exhausted. He has used a whole lot of time defending FIFA’s conclusion in 2010 to award the Environment Cup to Qatar. A controversial decision built when he was not the governing body’s president.
This tournament will be a historic function, the very first Planet Cup to be held in the Center East, but is also mired in controversy, with substantially of the construct-up focusing on human legal rights, from the dying of migrant personnel and the disorders quite a few have endured in Qatar, to LGBTQ and women’s rights.
Infantino, even with admitting matters weren’t fantastic, said some criticism was “profoundly unjust” and accused the West of double requirements.
The Italian opened the information meeting by speaking for an hour, telling journalists that he knew what it felt like to be discriminated from, declaring he was bullied as a boy or girl for acquiring red hair and freckles.
“Today I truly feel Qatari. Now I experience Arab. Today I feel African. Nowadays I truly feel homosexual. Nowadays I come to feel disabled. Currently I experience a migrant employee,” he reported, in entrance of a surprised viewers.
“I experience this, all this, due to the fact what I’ve been looking at and what I’ve been explained to, considering that I never read through, in any other case I would be frustrated I believe.
“What I have seen delivers me back to my private story. I am a son of migrant employees. My dad and mom had been doing the job quite really really hard in tricky circumstances.”
Infantino mentioned progress experienced been designed in Qatar on a selection of issues, but insisted true adjust took time, incorporating that FIFA would not leave the nation right after the tournament concluded. He proposed that he thought some Western journalists would ignore about the problems.
“We have to have to devote in training, to give them a much better potential, to give them hope. We must all teach ourselves,” he reported.
“Reform and alter usually takes time. It took hundreds of a long time in our nations around the world in Europe. It takes time all over the place, the only way to get effects is by participating […] not by shouting.”
Infantino also addressed issues all around the last-moment choice to ban alcohol from becoming marketed at the 8 stadiums which will host the tournament’s 64 matches. In a FIFA assertion issued on Friday, the governing system explained alcoholic beverages would be sold at fan zones and certified venues.
The Muslim state is thought of to be pretty conservative and tightly regulates alcohol gross sales and usage.
In September, Qatar experienced said it would allow ticketed admirers to obtain alcoholic beer at Environment Cup stadiums three hours just before kickoff and for just one hour immediately after the closing whistle, but not all through the match.
“Let me initial assure you that each and every final decision that is taken in this World Cup is a joint determination between Qatar and FIFA,” he claimed. “Every decision is discussed, debated and taken jointly.”
“There will be […] about 200 places where you can acquire alcoholic beverages in Qatar and in excess of 10 lover zones, wherever in excess of 100,000 individuals can simultaneously drink liquor.
“I assume individually, if for a few hours a day you cannot consume a beer, you will survive.”
“Especially simply because actually the same rules utilize in France or in Spain or in Portugal or in Scotland, the place no beer is authorized in stadiums now,” he included.
“It seems to become a large point simply because it is a Muslim state, or I don’t know why.”
Infantino completed the push meeting by insisting that all people would be harmless in Qatar, amid issues from the LGBTQ group.
Homosexuality in Qatar is illegal and punishable by up to three yrs in jail, but the FIFA president promised that this was a event for everyone.
“Let me point out as nicely, the LGBT circumstance. I have been talking about this matter with the greatest leadership of the region many occasions, not just once. They have confirmed, and I can affirm, that anyone is welcome,” Infantino explained.
“This is a distinct FIFA need. Everybody has to be welcomed, all people that will come to Qatar is welcome regardless of what faith, race, sexual orientation, belief she or he has. Absolutely everyone is welcome. This was our need and the Qatari condition sticks to that requirement,” Infantino mentioned.
Cover of Running While Black byAlison Mariella Desir.
Penguin Random House
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Cover of Running While Black byAlison Mariella Desir.
Penguin Random House
Runners are skinny white people. This was what Alison Mariella Désir thought until she came across a social media post from a friend, a 200-pound Black man, who was training for his first marathon.
Looking for a way to break through a persistent bout of depression, she signed up for a marathon as well. Much to her surprise, after 16 weeks of training with a Leukemia & Lymphoma Society running club in Manhattan’s Central Park, Désir completed the race. And from then on she was hooked.
In her new memoir Running While Black: Finding Freedom in a Sport That Wasn’t Built for Us, Désir tells the story of her non-traditional path to long distance running. Along the way, she reframes the history of American running by including the contributions of little known, yet influential Black runners in the narrative. Runners like ultra-marathon pioneer Ted Corbitt, Olympian and activist Wyomia Tyus and the first Black woman to win a marathon Marilyn Bevans, among others.
In the decade since her start in the sport, she’s completed many runs, including the New York and Boston Marathons and the Run For All Women from Harlem to Washington, DC. She’s also served as a founding co-chair of the Running Industry Diversity Coalition, a nonprofit founded in July 2020 that is devoted to increasing racial equity and fostering greater inclusion across all aspects of the sport and associated industry.
As Running While Black makes a case for why anyone might consider giving running a try, it also delivers a searing indictment of the ways in which the running industry perpetuates white supremacy and the marginalization of non-white voices. Désir also advocates for concrete steps the sport can take toward becoming more inclusive.
Author Alison Désir says running helped her reconnect with her body and gain insight into herself. She founded the running group Harlem Run to help other people of color find their way into the sport.
Brandon Williams
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Brandon Williams
Author Alison Désir says running helped her reconnect with her body and gain insight into herself. She founded the running group Harlem Run to help other people of color find their way into the sport.
Brandon Williams
Désir spoke to NPR about how running transformed her relationship to her body, starting a running club in Harlem focused on attracting more people of color to the sport, and what she tells people who are intimidated by marathons.
This interview has been edited for length and clarity.
When did you first get the idea to write this book?
After the murder of Ahmaud Arbery [in 2020]. I wrote this [op-ed] piece right before Mother’s Day, which is also Ahmaud’s birthday, about this new weight of living in this world as a Black woman with a son, who one day may find himself in spaces where he’s unable to move freely through, where he has to correct himself or make himself small in order to appease the white gaze. And I talked about how the running industry, the running community, has always been deeply racially divided.
The op-ed went viral. Black folks were like, ‘Thank you for finally putting this into words, what our experience is.’ And many white people were completely shocked, had never considered what it was to run as somebody who was not white. And I was like, ‘Okay, I need to write this book so that it hopefully draws awareness to these inequities and enacts some change.’
Give us an example of how running has changed your life and why embodiment is important.
When I was running my first marathon I was depressed, I was struggling with anxiety. My body was like a shell and all I wanted was to mute any kind of feeling that I had. I was drinking, I was overdosing on NyQuil [and] taking Xanax. And what running provided for me was my body was awakened again. It was simple things like recognizing that, Oh, when I run this distance, I have pain in my muscles and that means that I’ve been working hard. [Or], ‘when I’m running at this pace, my breath sounds like this.’
I just started to notice what was going on with my body and receive that feedback, which is a really powerful force. Many of us are so disconnected from our bodies, we start to lose sense of what it’s telling us. So running for me was reconnecting with who I was.
And I want that experience for everybody. It doesn’t necessarily just come through running, it can come through walking, kayaking, hiking, any activity that’s repetitive, that allows you to receive feedback and gain insight into yourself.
Wyomia Tyus breaks the tape to win the women’s 100-meter Olympic final, October 15, 1968, in Mexico City, beating out teammate Barbara Ferrell, center, who was second, and Irena Szewinski, left, of Poland who was third. Tyus’s time of 11.0 seconds, bettered the official world and Olympic records.
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When did you know that running was going to become an important part of your life, and something you wanted to share with your community?
I completed that first marathon and I knew that I wanted to continue running. But I also knew that throughout my experience, there were mostly white people around. I wanted to ultimately share this transformation with other people like me. I knew that there were other Black people in my community, who if only they started long distance running, they could feel the same things that I felt. They could see their world expanding. They could feel a deep sense of connection. They could really work out problems on the run.
So I started this organization, Harlem Run. It was through building it that I first became aware that there was an industry – that there are people who want to sell us things. There are people who are feeding this idea of who a runner is. At the time, I thought that a runner was a skinny white person. I remember looking at magazines and thinking, ‘Wow, there are only white people on the cover.’ I started to realize these messages didn’t just appear in my head, I’m consuming the industry the way that this sport is commodified.
At what point did you know that you were making a difference with Harlem Run?
I knew that I was making a difference when the same people [kept] coming back. It was people who were looking forward to this Monday evening activity, because there was the opportunity to share stories with folks. People were sharing really vulnerable pieces of themselves. People were challenging themselves physically. And also, as adults, we don’t really get an opportunity to feel a part of something like when you’re younger. So people finally felt like they had this other community. And I remember one of the guys asking “can we make sweatshirts with Harlem Run on them?” And I was like, ‘Oh, my gosh, people want to scream from the rooftops that this is theirs. ‘
You started out writing about the history of running and then you discovered something new about the contributions of Black Americans to running. Tell us about that.
I was on this panel about the legacy of Ted Corbitt. [I learned] that without Ted Corbitt and the New York Pioneer Club, an organization from Harlem founded by three Black men [in 1936], there would be no long distance running movement. It blew my mind. I thought, well, we were there, like we’ve been here this entire time, we’re responsible for why the sport exists. And yet, we’re made to feel secondary or excluded? And that shook me. On one hand, it made me realize, well, it’s my responsibility. Ted Corbitt and others, they blazed the trail and now I have to carry the torch and tell this story. But it also made me realize just how fragile history is and how in the wrong hands, history is contorted in a way that Black and brown folks don’t even matter.
Left: Archival photo of Ted Corbitt. Right: Ted Corbitt at the 1975 New York City Marathon.
Gary Corbitt/ Screenshot by NPR/Alamy Stock Photo
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Gary Corbitt/ Screenshot by NPR/Alamy Stock Photo
So tell us more about Ted Corbitt and the impact of the New York Pioneer Running Club.
Corbitt was born in the South and he lived in New York. He was just an incredible athlete. He would run like 20 miles a day, 10 miles to work 10 miles back. He was regularly running 100-mile races. Many people call him the grandfather of long distance running, or the father of the ultra marathon.
He’s the one who ushered in this movement of precise mileage, of actually marking courses. He brought this concept of, if we want our sport to grow, we really have to have accurate measuring. That laid the foundation for long distance running being competitive and being taken seriously.
Perhaps most importantly, Ted Corbitt is the person who had the idea for the five borough New York City Marathon. If you were to Google that information right now, you will likely not find that story, because a white man is credited for that.
New York Road Runners, which manages the New York City Marathon, directly descended from the New York Pioneer Club. [The founders] were revolutionary in saying that this would be a club for people of all races. This was before baseball was integrated. This was revolutionary, having Jewish people, Black people and Irish folks running together. You’re talking about really the creation of what we say [now] about running being accessible. Those are ideas from Black folks. It’s a civil rights story.
Watch Ted Corbitt’s son Gary Corbitt talk about his father’s legacy.
VICE TV YouTube
You can find a bust of Ted Corbitt in the New York Roadrunners’ RunCenter. But when you think about who has been championed, and whose name is said, it is not any of the folks from the New York Pioneer Club, or Ted Corbitt. That’s something that New York Road Runners is working to address, but it’s sort of like we’re going back to make a correction. Everybody should have known his name.
And I just think like, Wow, what an impact would that have been? If I had known that Ted Corbitt, and these three Black men in Harlem and this organization existed, I would have known that long distance running is for me, because my people helped create it.
I have to say that it is a mind-bending thing to realize that the father of ultra-marathons was a Black man running to work.
Exactly. On the one hand, we regularly hear things like Black people don’t do X or like, this is white people [stuff]. But then on the other hand, you think about the climate in which Ted Corbitt was running, where often he had to skip events because they were dangerous for him [as a Black man], or he would use the Green Book in order to figure out where he could stay in the country. There were instances where the New York Pioneer Club actually decided not to participate in a race, because they would have to stay in segregated dorms, and they decided to protest that. There’s just levels to the ways in which we are divorced from our stories and our histories, and then made to believe that something is not for us. I hope that my book forces people to question the stories that are being told.
What do you hope stakeholders in the running industry will take away from your book?
The last third [of my book] is challenging the industry to take action. And I put it in the context of “will the industry have the endurance to stick with it?” Because long distance running is an endurance sport. And what I hope is through reading this book that people feel called to continue to take action.
In the past two years, there was a lot of excitement and interest initially, because these issues of racial inequity felt really tangible. [Now] it has sort of trickled out and it’s no longer making the news, so it doesn’t feel as urgent. But I hope that a book like this reminds people that while the work is urgent, it’s a marathon. It’s about your daily choices as an individual. It’s about your civic engagement. It’s about the decisions that you make in the boardroom. It’s about who’s in your marketing materials.
And on the other side of it, I also hope that Black folks realize that whether or not the industry changes as fast as we’d like it to, we are resilient, powerful, innovative and we will continue to create our own spaces where we can thrive.
What would you say to people who might be intimidated by long distance running?
Running is really hard. If it weren’t hard, everyone would be doing it. But I will say that it’s not that it gets easier, but that you become more equipped at doing it. You get more comfortable with the discomfort, and you get stronger. And it becomes something that you love.
For many people, when they think of running, they’re thinking of a particular person or a particular experience that they’ve seen. So when they say I can’t run, it’s because they’re thinking of Allyson Felix running the 400 meters in the Olympics. But running is many things. You can move in a way that will be good for your body. And that can start as walking, that can be run-walking. So I would say give yourself some grace, but by all means, try it.
Beandrea July (@beandreadotcom) is a writer and audio producer from Dayton, Ohio.
Ukraine has encircled Russia’s forces around a bastion that is critical for Moscow at the eastern town of Lyman, in an operation that is still under way, a Ukrainian military spokesperson said on Saturday.
Russia’s forces at Lyman totalled about 5,000 to 5,500 soldiers, but the number of encircled troops may have fallen because of casualties and some soldiers trying to break out of the encirclement, said Serhii Cherevatyi, spokesperson for Ukraine’s eastern forces, according to Reuters.
Cherevatyi said:
Lyman is important because it is the next step towards the liberation of the Ukrainian Donbas. It is an opportunity to go further to Kreminna and Sievierodonetsk, and it is psychologically very important.
On Saturday, Luhansk’s governor, Serhiy Haidai, said via Telegram:
The occupiers trapped in Liman asked the Russian command to allow them to leave the city, but were refused.
He added: “The possibilities of delivering ammunition to the Russians to the surrounded city or a peaceful exit from the settlement are already blocked.”
Key events
Russia is trying to transfer the Zaporizhzhia nuclear power plant to the Russian energy firm Rosatam, says head of Ukraine’s atomic energy company
Speaking with BBC News on Saturday, Petro Kotin said “they are trying to make our personnel just to sign the accurate deals for the work at Rosatam”.
His remarks come after reports that the Ukrainian director-general of the Russian-held Zaporizhzhia nuclear power plant, Ihor Murashov, had been detained by a Russian patrol on Friday afternoon.
Citing previous attempts, Kotin added:
We expect that they’re trying to make him accept this move from Russians to catch the Zaporizhzhia nuclear power plant by Rosatam.
Kotin also described Murashov as the main person responsible for the plant’s safety, which is currently operated by 7,000 people on site.
Here’s a video of Ukraine’s armed forces raising the nation’s flag before the entrance sign to the city of Lyman, where Ukraine said it encircled thousands of Russian troops earlier today.
Ukraine’s armed forces raising the blue and yellow flag above the #Lyman entrance sign on the outskirts of the city. “Stabilisation measures” are being carried out, eastern command says, amid reports that around 5000 Russian soldiers remain trapped inside pic.twitter.com/xWnp4YbkX7
The Danish prime minister, Mette Frederiksen, said she shared key information on the damaged Nord Stream pipelines with Liz Truss at a meeting in Downing Street.
Following the meeting, outside No 10, Frederiksen told PA news:
Of course, it has been very important for me to underline that the Danish authorities have said that this this is not an accident. This is sabotage and it is critical infrastructure. So of course, this is a very serious situation.
Both Britain and Denmark have reaffirmed their support for Ukraine, following Vladimir Putin’s annexation of four regions on Friday.
We talked most of all about the situation in Ukraine and the so-called referendums in Ukraine. As you know, Britain and Denmark are very supportive of Ukraine and we will continue to be so and to continue our work and our co-operation.
Liz Truss and Denmark’s Prime Minister Mette Frederiksen in Downing Street. Photograph: Justin Tallis/AFP/Getty
The International Atomic Energy Agency (IAEA) has requested clarifications from Russian authorities following reports that the director-general of the Zaporizhzhia nuclear power plant has been detained.
A spokesperson for the IAEA, the UN nuclear watchdog, told Reuters:
We have contacted Russian authorities and are requesting clarifications.
Earlier, we reported that Ihor Murashov had been detained on his way from Europe’s largest nuclear plant to the town of Enerhodar at about 4pm on Friday.
Petro Kotin, the head of Ukraine’s atomic energy company, said his detention “jeopardises the safety of operation of Ukraine and Europe’s largest nuclear power plant”.
Here are the latest photos from Ukraine and elsewhere:
A local walks on the destroyed bridge over the Donets river in Staryi Saltiv, east of Kharkiv. Photograph: Sergey Bobok/AFP/Getty
More and more Ukrainian people are returning to their home country from Poland, or transiting through Poland from other countries. Photograph: Anadolu Agency/Getty
Russian President Vladimir Putin stands on stage during a concert marking the declared annexation of the Russian-controlled territories of four Ukraine regions, Donetsk, Luhansk, Kherson and Zaporizhzhia. Photograph: Sputnik/Reuters
A man with a Russian flag on his uniform stands guard near the Zaporizhzhia nuclear reactor. Photograph: Alexander Ermochenko/Reuters
Children play at the Arch of Freedom of the Ukrainian people square in Kyiv. Photograph: Francisco Seco/AP
Summary
It’s 12pm in Ukraine, here’s the latest:
Ukraine has encircled Russia’s forces around a bastion that is critical for Moscow at the eastern town of Lyman, in an operation that is still under way. Russia’s forces at Lyman totalled about 5,000 to 5,500 soldiers, but the number of encircled troops may have fallen because of casualties and some soldiers trying to break out of the encirclement, according to a spokesperson for Ukraine’s eastern forces.
The Ministry of Defence said Russia’s expansion strategy has resulted in “killing civilians it now claims are its own citizens”.The MoD said Russia is expending “strategically valuable military assets” in attempts to gain tactical advantage.
Ukraine’s president thanked his US counterpart, Joe Biden, on Saturday for signing an additional $12.35 bn (£11bn) in support for Ukraine. Volodymyr Zelenskiy said “This help is more important today than ever.”
The Ukrainian director-general of the Russian-held Zaporizhzhia nuclear power plant has been detained by a Russian patrol, according to Energoatom. The company said his detention on Friday “jeopardises the safety of operation of Ukraine and Europe’s largest nuclear power plant.”
Turkey which has been at the centre of mediation between the west and Russia, rejected Russia’s annexation of Ukraine, calling the decision a “grave violation” of international law.
The World Bank said it will provide an additional US$530m in support to Ukraine, bringing the total aid by the bank to $13bn. The aid is supported by the UK ($500m) and Denmark ($30m).
Ukrainian forces close in on Lyman
Ukraine has encircled Russia’s forces around a bastion that is critical for Moscow at the eastern town of Lyman, in an operation that is still under way, a Ukrainian military spokesperson said on Saturday.
Russia’s forces at Lyman totalled about 5,000 to 5,500 soldiers, but the number of encircled troops may have fallen because of casualties and some soldiers trying to break out of the encirclement, said Serhii Cherevatyi, spokesperson for Ukraine’s eastern forces, according to Reuters.
Cherevatyi said:
Lyman is important because it is the next step towards the liberation of the Ukrainian Donbas. It is an opportunity to go further to Kreminna and Sievierodonetsk, and it is psychologically very important.
On Saturday, Luhansk’s governor, Serhiy Haidai, said via Telegram:
The occupiers trapped in Liman asked the Russian command to allow them to leave the city, but were refused.
He added: “The possibilities of delivering ammunition to the Russians to the surrounded city or a peaceful exit from the settlement are already blocked.”
Russia killing citizens it claims are its own, says UK
The Ministry of Defence said Russia’s expansion strategy has resulted in “killing civilians it now claims are its own citizens”.
The latest intelligence update,published on Saturday morning, comes after Putin signed annexation agreements across four occupied regions in Ukraine, marking the largest forcible takeover of territory in Europe since the second world war.
The MoD said Russia is expending “strategically valuable military assets” in attempts to gain tactical advantage. It added that Russia “almost certainly” struck a convoy outside the town of Zaporizhzhia on Friday, where local media reported 25 civilians had been killed, and more than 50 injured.
Ukraine’s president thanked his US counterpart, Joe Biden, on Saturday for signing an additional $12.35 bn (£11bn) in support for Ukraine.
Volodymyr Zelenskiy wrote on Twitter:
The law provides the financing of defence programs, as well as powerful direct budget support to Ukraine. This help is more important today than ever.
Thank you @POTUS for signing into law $12.35 bln in supplemental support for 🇺🇦. The day before, the bill was backed by both houses of 🇺🇸 Congress. We appreciate this powerful act of solidarity of the 🇺🇸 people with 🇺🇦. And the bicameral and bipartisan support of our state. 1/2
Here are the latest photos from Ukraine and elsewhere:
People arrive in Poland from Ukraine after the annexation of 15{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} of regions of Ukraine. Photograph: Anadolu Agency/Getty
Destroyed Russian tanks in Bucha, in the outskirts of Kyiv. Photograph: Rodrigo Abd/AP
Vladimir Putin is seen on a screen during the broadcast of a ceremony to declare the annexation of the Russian-controlled territories of Donetsk, Luhansk, Kherson and Zaporizhzhia regions. Photograph: Alexey Malgavko/Reuters
Ukraine’s President Volodymyr Zelenskiy holds an application for ‘accelerated accession to Nato’ in Kyiv, Ukraine. Photograph: AP
Ukrainians soldiers carry a wounded comrade across a damaged bridge over the Oskil River. Photograph: Scott Peterson/Getty
A pedestrian walks among bombed apartments in the town of Sviatohirsk, Donetsk region. Photograph: Anatolii Stepanov/AFP/Getty
Head of Zaporizhzhia nuclear plant abducted, says Ukrainian state agency
The Ukrainian director-general of the Russian-held Zaporizhzhia nuclear power plant was detained by a Russian patrol, according to Energoatom, the Ukrainian state agency in charge of the plant.
In a statement on Saturday, the company said Ihor Murashov had been detained on his way from Europe’s largest nuclear plant to the town of Enerhodar around 4pm on Friday, Reuters reports.
Petro Kotin, the head of Ukraine’s atomic energy company, wrote on Telegram:
He was taken out of the car, and with his eyes blindfolded he was driven in an unknown direction.
With no immediate word on Murashov’s fate, Kotin added:
His detention by the Russians jeopardises the safety of operation of Ukraine and Europe’s largest nuclear power plant.
The Zaporizhzhia nuclear power plant (ZNPP) faced calls for a demilitarised zone around the plant last month from the United Nations after Russia and Ukraine blamed each other for shelling at the site that has damaged buildings and caused the disconnection of power lines.
Turkey has rejected Russia’s annexation of Ukraine on Saturday, calling the decision a “grave violation” of international law.
Turkey, which has been at the centre of mediation between the west and Russia, said it had not recognised Russia’s annexation of Crimea in 2014, adding that it rejected Russia’s decision to annex Donetsk, Luhansk, Kherson and Zaporizhzhia, Reuters reports.
This decision, which constitutes a grave violation of the established principles of international law, cannot be accepted. We reiterate our support to the resolution of this war, the severity of which keeps growing, based on a just peace that will be reached through negotiations.
The World Bank has said it will provide an additional US$530m in support to Ukraine, bringing the total aid by the bank to $13bn. The aid is supported by the UK ($500m) and Denmark ($30m), the World Bank said.
Of the total aid of $13bn to Ukraine to date, $11bn had been fully disbursed, the bank added.
The World Bank’s most recent analysis put the total long-term cost of reconstruction and recovery in Ukraine over the next three years at well over $100bn, said Arup Banerji, World Bank regional country director for eastern Europe.
Overnight, Ukrainian forces were reportedly on the doorstep of Lyman in Donetsk, which Moscow’s forces pummelled for weeks to capture this summer.
“Lyman is partially surrounded,” said Denis Pushilin, the pro-Moscow leader in Donetsk, adding later on social media that Russian forces were holding out “with the last of their strength”.
Reports have circulated online of the Ukrainians also reaching Kreminna, 30km further east of Lyman. Hopefully we’ll have more on Ukrainian troops’ advances as the day progresses.
Summary
Hello and thanks for joining today’s live coverage of the Russian war against Ukraine, brought to you by the Guardian. I’m Warren Murray here to get things started. Let’s begin with some of the most recent developments.
Russian forces were potentially on the verge of one of their worst defeats of the war after Ukrainian troops recaptured two villages close to the eastern Russian-occupied stronghold of Lyman.
Russia’s president, Vladimir Putin, proclaimed the annexation of territory seized in his invasion in four regions amounting to 15{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} of total Ukrainian territory while Kyiv said it would continue its fight to retake the illegally occupied land.
Before signing the documents which lay claim to Kherson, Zaporizhzhia, Luhansk and Donetsk – an act denounced as illegal by Ukraine, the United States, the European Union and the head of the United Nations – Putin delivered a 37-minute anti-western diatribe.
President Volodymyr Zelenskiy said he was formally applying for Ukraine to join the Nato military alliance, adding that Kyiv was ready for talks with Moscow but not while Putin remained president.
Russia vetoed a UN security council resolution introduced by the US and Albania condemning Moscow’s proclaimed annexations. Russia’s strategic partner China abstained from the vote, as well as India, which has historic defense ties with Russia despite a warming relationship with the United States.
The United States responded to the annexations by imposing more sanctions on Russia, targeting hundreds of people and companies, including those in Russia’s military-industrial complex and lawmakers.
At least 30 civilians were killed and almost 100 wounded in what Kyiv said was a cynical Russian missile strike on a convoy of civilian cars in southern Ukraine.
Putin, without providing evidence, blamed the US and its allies for blowing up pipelines under the Baltic Sea, raising the temperature in a crisis that has left Europe racing to secure its energy infrastructure and supplies.
Joe Biden, the US president, said “was a deliberate act of sabotage and now the Russians are pumping out disinformation and lies”, adding that Washington and its allies would send divers to find out what happened.
The ruptures on the Nord Stream natural gas pipeline system have led to what is likely the biggest single release of climate-damaging methane recorded, the United Nations Environment Programme said.
Fed Chair Jerome Powell has made it apparent: We are not looking at the U.S. housing current market normalize, we’re observing it “reset” via a “difficult correction.”
“For the lengthier term what we need is provide and desire to get greater aligned so that housing rates go up at a sensible amount and at a reasonable tempo and that folks can find the money for houses once more. We almost certainly in the housing sector have to go by a correction to get again to that place,” Powell instructed reporters past 7 days.
Effectively, the existing housing correction is pushing the U.S. housing market—which experienced soared based on a traditionally low cost 3{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} house loan rates—toward a new equilibrium in the deal with of higher mortgage premiums. Inventory ranges will keep on to increase, and house profits will carry on to fall—likely depressing property charges.
But it is not a a person-sizing-fits-all housing correction. Irrespective of home finance loan premiums have jumped evenly throughout the region, the reset in household prices may differ appreciably by sector. In some regional housing markets, the Pandemic Housing Growth as fizzled out. Other folks seem like they are transferring straight from the Pandemic Housing Boom into the Pandemic Housing Bust.
To superior comprehend how the housing correction varies nationwide, let’s glimpse at inventory knowledge. Looking at inventory data is really straight-ahead: If inventory stages are spiking it suggests it’s speedily shifting from a sellers’ industry and into a buyers’ market place.
While inventory concentrations are climbing, they’re however very well under pre-pandemic amounts: Nationally, the variety of lively listings in August 2022 was 41.5{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} below August 2019. That has some housing bulls considering that property prices is not going to drop. Right after all, historically speaking, there is certainly a stickiness to household charges. Sellers really don’t like to price reduction closely till the economics pressure them to start slicing prices. That “economic force” is generally a source glut.
“Our view is that you will see—and we’re observing it right now—home price ranges will tumble even nevertheless offer ranges are not ripping larger,” claims Rick Palacios Jr., head of exploration at John Burns True Estate Consulting.
How can house rates slide even while there’s neither a offer glut nor a flood of distressed sellers? It boils down to pressurized affordability. The mixture of bigger mortgage rates— 6.82{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} as of Thursday—and frothy household prices have pushed new regular monthly home loan payments far past what numerous customers can monetarily abdomen. Cue falling dwelling charges.
On a person hand, restricted inventory stages usually are not stopping home price declines. On the other hand, the markets with the biggest inventory spikes before this summer time now have the sharpest house price tag declines. Just set: We even now need to be pay shut attention to stock shifts.
Marketplaces with substantial inventory spikes—over 150{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}—fall into a single of two camps.
The to start with team are significant-expense tech hubs. Look no even more than San Francisco (where by inventory is up 378{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}) and San Jose (up 177{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}). The purpose for their sharp correction is uncomplicated: Not only are their significant-end authentic estate markets a lot more charge-sensitive, but so are their tech sectors.
The second—and biggest—group are bubbly housing markets. Being “overvalued” relative to fundamental financial fundamentals doesn’t guarantee that residence prices will tumble. That said, in a housing downturn, it really is generally drastically “overvalued” housing marketplaces that are at the maximum chance of sharp corrections. We’re looking at that now: More than the earlier five months, stock levels have spiked in bubbly markets like Boise (exactly where stock is up 298{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}), Austin (up 435{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}), Phoenix (up 317{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}), and Las Vegas (up 192{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}).
Not only are bubbly markets—like Boise, Las Vegas, and Phoenix—shifting fast, they also appear like early-inning housing busts. Let us take a closer appear.
Even just before pandemic remain-at-residence orders were lifted, white-collar industry experts residing in towns like San Francisco and Seattle in 2020 have been currently having off for Mountain West getaways. The poster little one currently being Boise. Its outdoorsy life-style, tech scene, and relative affordability (at minimum for Californians) made it the go-to for work-from-residence techies.
That was not welcomed by all the locals. Some people with California license plates even located printed playing cards on their windshields that examine: “GO Again TO CALIFORNIA WE Really do not WANT YOU Here.” It’s uncomplicated to see why some locals had been discouraged: The Pandemic Housing Boom—during which Boise property values soared more than 50{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}—priced several Boise locals out of obtaining households. In accordance to Moody’s Analytics, Boise is essentially the nation’s most “overvalued” significant housing market—with house costs investing 72{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} bigger than fundamental fundamentals would commonly assist.
Rapidly forward to September, and that Boise growth is very long long gone. This summertime, Boise stock skyrocketed 297{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} even though property values dropped 5.3{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}. That correction is significantly from more than. Field insiders explain to Fortune you can find a glut of new construction in Boise that will before long hit the market. If consumers usually are not identified, those residences could see house selling prices drop even further more.
An case in point is this North Las Vegas dwelling that Opendoor acquired for $540,800 in May well. Just months later, Opendoor put the house on the current market for $581,000. Having said that, it certainly didn’t get a lot of bites. As of Thursday, the list cost was down to just $490,000. Which is 10.4{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} under what Opendoor paid for the property this spring.
Las Vegas proceeds to change fast—historically quick. Involving March and August, Las Vegas stock spiked 192{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}. While Las Vegas house values—which are lagged—are previously down 3{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} from their 2022 peak.
Back again in the early 2000s, residence flippers targeted rapid-rising Sunbelt towns like Phoenix. That speculation eventually labored towards Phoenix as soon as the housing bubble popped in 2008. See, as the housing cycle “rolled over,” all those traders were being the initial to run for the exits. That pileup of stock, of study course, only set even further downward strain on Phoenix.
Speedy-forward to currently, and Phoenix is when yet again at the heart of a cooling housing industry: Between March and August, Phoenix stock was up 317{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}. Which is by now translating into a sharp house price tag decrease. According to Zillow, Phoenix residence values are down 4.4{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} from their 2022 peak.
Moody’s Analytics main economist Mark Zandi expects household selling prices in drastically “overvalued” housing marketplaces like Boise, Phoenix, and Las Vegas to slide 10{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} to 15{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} in between peak-to-trough. But that assumes no economic downturn. If an economic downturn hits the country, Zandi states price ranges markets like Boise, Las Vegas, and Phoenix could decline 20{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} to 25{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}.
Let us be very clear: Not each individual U.S. housing market is shifting like Boise, Phoenix, and Las Vegas.
In the Higher New York metro, spiked mortgage loan rates unquestionably impacted the current market, having said that, inventory on a calendar year-above-yr basis is nevertheless down. And in accordance to Zillow, Greater New York household values only fell .2{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} concerning May well and August.
The reason? Not like bubbly markets in the South and West, New York is not as detached from underlying fundamentals. In accordance to Moody’s Analytics, Las Vegas and Phoenix are “overvalued” by 53.3{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} and 53.8{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}, respectively. Although Larger New York is “overvalued” by just 7.4{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502}.
Merely place: The ongoing housing correction is training us that housing fundamentals even now make any difference.
Want to remain up to date on the shifting U.S. housing sector? Stick to me on Twitter at @NewsLambert.
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Travel partner of the year: Serviced apartment provider
Frasers Hospitality
What the judges said: The judges cited Frasers Hospitality’s GDS integration as the advancement which really makes them stand out from the other entries as this is so needed in the managed corporate travel market.
Accommodation Innovation
3Sixty
What the judges said: The judges cited 3Sixty’s partnerships with Dunn and Bradstreet and Geosure as a way to measure and communicate safety and security standards which is more important than ever in the current landscape. They cited the scoring capability and real-time view into guest needs as clever ideas and the kind of innovation and digital transformation that is needed in the extended stay space.
Travel partner of the year: Mobility provider
Enterprise/National
What the judges said: The judges cited the investments that Enterprise/National has made in the company and their offerings over the past year to keep their business moving forward and meet the needs of their corporate customers as the key reason they stood out from the other finalists. The judges were also impressed with their strong focus on making sure the customer always comes first, their sustainability efforts, their commitment to increasing the number of EVs in their fleet, and their global coverage and loyalty programme.
Travel partner of the year: Chauffeur or taxi provider
Sixt Ride
What the judges said: The judges recognised Sixt’s efforts to build a multifaceted, global product, and said they distinguished themselves in past 12 months, particularly with the work they did in integrating with Morgan Stanley’s proprietary booking tool, as well as other integrations to support partnerships and booking channel preferences. The judges also noted how Sixt has faced the challenges of the marketplace in the past year regarding the availability of cars and drivers and other support, including bringing back their entire workforce by the first of June 2021, which the judges said was supported by comments from other travel buyers and TMCs.
Travel partner of the year: Transportation network carrier
Blacklane
What the judges said: The judges cited Blacklane’s commitment to sustainability and health and safety measures, and their investments in technology to support the corporate traveller experience and bring in new partners.
Travel partner of the year: Rail operator
LNER
What the judges said: The judges selected LNER, the London North Eastern Railway, as the winner for its excellent, well-rounded entry and cited its customer advocacy as well as its focus on representing and championing rail and not just the company. LNER is a founding member of the Great British Rail Transition Team’s Business Squad, which was formed to accelerate business recovery, and the company has coordinated “rail zones” at trade shows to bring the industry together. LNER demonstrated innovation in onboard catering and a new loyalty scheme. In addition to its efforts to raise the profile of the rail industry, the judges noted its excellent customer service.
Highly Commended: Avanti West Coast
What the judges said: The judges also highly commended Avanti West Coast, which became the first UK train operator to be awarded AA accreditation from Shaw Trust, recognising their web content as accessible to customers with a wide range of disabilities. It also introduced a new class of travel, Standard Premium, and invested in enhanced WiFi service.
Travel partner of the year: Short-haul airline
British Airways
What the judges said: The judges cited innovations like digital queuing in the app and the addition of a plant-based menu, as well as demonstrated improvements in customer service as support for their decision.
Travel partner of the year: Long-haul airline
Delta Air Lines
What the judges said: The judges cited Delta’s strong focus on partnership as the key factor in their decision. They noted Delta really “lives” this and it is demonstrated throughout all parts of their business, from their customer service, their efforts around sustainability, their investments in innovation and the customer experience, to name a few.
Technology Innovation: Traveller Experience
Nomadic
What the judges said: The judges cited this as a much-needed technology innovation in a pandemic/post-pandemic environment with ever-changing regulatory requirements that also simplifies the visa/work permit process.
Highly Commended: Collinson
What the judges said: The judges cited Collinson’s success in solving a specific problem for the industry at a time where it was very much needed for those who needed to keep travelling. They also praised their use of AI and machine learning to improve as they went along.
Technology innovation: Corporate booking platform
Amadeus
What the judges said: The judges called Amadeus the most integrated solution in a highly competitive category and said it stood out as being more innovative in its focus to enable travellers to be more collaborative and had the potential for future growth and broader use. The judges also liked that Amadeus used customer forums for feedback and worked with pilot customers and used customer and product forums to drive strategic product decisions.
Travel partner of the year: National TMC
Agiito
What the judges said: The judges cited Agiito’s adaptability in the market over the last year and increasing their rage of product offering to meet the needs of a range of customers. The improved mobile technology, engagement with key associations and other industry partners, as well as their consolidation of travel and meetings and events, were specific examples noted.
Travel partner of the year: European TMC
Key Travel
What the judges said: In a category characterised by niche submissions from TMCs with a majority of air transactions originating in Europe rather than serving all European markets, the judges named as the winner Key Travel for being a fantastic example of a travel management company that showed a commitment to both internal and customer-facing investments, while maintaining its focus on travel for doing good. The judges found notable the launch of a travel risk assessment tool and sustainable travel tools as well as the enhancement of a digital reporting tool.
Travel partner of the year: Global TMC
FCM Travel
What the judges said: The judges cited FCM’s significant investment in the areas of onboarding and change management. The judges noted that FCM is receptive to feedback from current and former customers and makes changes based on those lessons learned. The judges found the supporting case study that focused on a new customer implementation that needed to be completed in a short span of time to be impressive.
Technology innovation: Payments & expenses
TripActions
What the judges said: The judges cited TripActions’ Liquid expense solution as a standalone innovation, but also noted the significance of it being part of an end-to-end solution that makes the whole journey seamless, as 95 per cent of claims don’t need approval. The judges called it the only real innovation in the category in the way that it simplifies how you can control expense payments, calling it a kind of an upgrade to Airplus that is more open for expenses. As a full 360-degree payment and expense offering, the judges said Liquid was a smart and seemingly simple solution that could easily sit outside the TMC infrastructure.
Travel partner of the year: Meetings & events solution
American Express Meetings & Events
What the judges said: The judges cited American Express Meetings & Events’ support to the MICE segment, as well as their global coverage, sustainability focus and demonstration of diversity at work as support for their decision. They also noted the agility of the M&E team to adapt to the ever-changing landscape.
Technology Innovation: Meetings & events
Cvent
What the judges said: The judges cited the Attendee Hub product – supporting both virtual and hybrid events (with an emphasis from the judges on the hybrid element) – as a needed innovation in today’s market. They can support events on a global scale, as well as providing attendees with personalised content. Cvent’s overall submissions told a great story and shared strong supporting data and detailed client feedback, said judges.
Travel partner of the year: Hotel Brand
IHG Hotels & Resorts
What the judges said: In another competitive category, the judges named IHG the winner for its focus on customer collaboration and partnership to improve customer service and operations. Noting both a top-down and bottom-up strategy to support clients, the judges were particularly struck by the way IHG continued its focus on clients during the pandemic without furloughing anyone in the sales organisation in 2021. The judges also cited IHG’s focus on staff development and client communications and its creativity in maintaining relationships through its use of educational videos.
Achievement in environmental sustainability
Lufthansa Group
What the judges said: Judges cited Lufthansa’s understanding that there is no single magic solution and said Lufthansa demonstrated a commitment to a multi-pronged strategy. The judges also noted Lufthansa’s recognition that SAF is not the only solution, also focusing on modernising their fleet, mixing rail and air, and making a clear case for flexibility in product offering.
Highly Commended: United Airlines
What the judges said: The judges also recognised as highly commendable United’s investment in hydrogen electric engines and a synthetic biology approach to SAF to create a more sustainable aviation fuel. The judges also commented that while the airlines scored highest among many entries, they wanted to encourage efforts by hotels and others going forward.
Achievement in diversity, equity & inclusion
Enterprise
What the judges said: The judges cited the significant investment into DEI, involving all across the organisation, with a global strategy led by their first Chief Diversity Officer. The global DEI structure is supported on a local level by country heads and regional groups. Specific actions identified by the judges included the diversity scorecard, customer events, podcasts, and the various employee resource group events. Two judges went as far as to call the entry “inspiring”.
Highly Commended: Delta Air Lines
What the judges said:The judges felt that Delta was worthy of a highly commended in this category, citing a well- rounded, complete entry with a great storyline, strong supporting data and third party support. The Apprenticeship Program and Delta Analytics Academy demonstrates unique and positive ways to address staffing shortages in the industry, said the judges.
Account management team of the year
Agiito
What the judges said: The judges noted that Agiito has taken both a creative and different approach to supporting their customers, specifically noting their rebid strategy and approach to bid avoidance. They appreciated the quotes from customers in addition to the facts and figures provided to tell a well-rounded story.
Travel buyer of the year
Eloise Ferrara-Neched, senior procurement manager, Royal Mail Group
What the judges said: The judges were impressed with the clear impact that Eloise had in bringing fresh eyes to refreshing policy and making user experience changes during challenging times. Noting that Eloise, who took on the travel category in Q2 2021, was new to the category, the judges were impressed that she managed to do so much and achieve tangible results, including identifying cost-savings opportunities and meeting sustainability, wellbeing, and cost-effectiveness objectives. Calling her a champion for change, the judges also said that recognising someone so new to the industry in a non-global organisation should send a message to those considering entering the industry that you can achieve great things and be recognised for it.
Highly Commended: Cristina Chimenti, global travel manager, Sky
What the judges said: The judges really liked Cristina’s demonstration of onboarding new suppliers with a view to sustainability as well as her execution and knowledge-sharing with those that use the tools and recognised the massive change management effort needed to implement this. The list of her major achievements included consolidating travel, meetings and events, and payments, as well as proactively initiating a sustainability programme across travel. The judges also noted her commitment to the industry and her focus on continually raising the bar.
Travel team of the year
Google Global Travel Team & American Express Global Business Travel
What the judges said: In assessing the efforts of the Google-American Express Global Business Travel team to launch the Accessibility Travel Desk to assist travellers with disabilities navigate pre-trip considerations and ensure on-trip assistance – including escorts, preboarding, in-room facilities and other requirements – many of the judges were reduced to using such one-word assessments as ‘wow’, ‘incredible’, ‘inspiring’ and ‘gamechanging’. The judges called this a scalable approach that could be replicated by many organisations across the industry and throughout the world to advance diversity and inclusion. Citing this as thinking in a new direction for travellers with previously unmet needs, several of the judges said they would like to adopt this approach in their own programmes and called it D&I at its finest.
Highly Commended: Inmarsat Global Travel Operations Team
What the judges said: The judges recognised as highly commendable the Inmarsat team’s efforts to support the launch of a satellite from a remote island in Japan in December of 2021 by overcoming pandemic restrictions to meet tight deadlines. The judges called the achievement for the team to arrange logistics for this launch despite the challenges they had to confront amazing and said that it proved that collaboration and teamwork make a difference. The judges noted the great work on engagement through travel tools and a dedicated Yammer channel and said that the efforts of the team to surmount the intricacies of meeting time sensitivities with coordinated precision would have been difficult even in a pre-pandemic world.
• The Business Travel Awards Europe 2023 will take place on 30 October next year. For more information about the event, visit businesstravelawardseurope.com
