Market Newsdesk

LAD Acquires $210 million in Luxury Revenue in the Strategically Important Washington DC Area

MEDFORD, Ore.–(BUSINESS WIRE)–
Lithia & Driveway (NYSE: LAD), today announced it has acquired Sterling Luxury Group (Sterling Motorcars) in Loudoun County Virginia, one of the most affluent counties in the United States. The transaction includes BMW and Mini of Sterling, as well as Rolls-Royce Motor Cars, Lamborghini and McLaren brands, adding three new premium luxury brands to its portfolio. These additions further increase our brand selection and broadest national network in the industry, now reaching over 95% of the United States.

The Sterling acquisition marks their entry into the strategically important Mid-Atlantic portion of the country, LAD’s first location in Virginia and another top 10 metropolitan market. “Entering our seventh top 10 market in the country further enables LAD to conveniently and affordably serve our customers throughout their complete ownership lifecycle,” said Bryan DeBoer, Lithia & Driveway’s President and CEO. “This acquisition accelerates our unique omni-channel strategy and takes us one large step closer to achieving the year one network growth aspiration of our five-year 50/50 plan.”

The transaction is expected to add $225 million in annualized revenue, bringing LAD’s total network expansion to over $3.4 billion in revenue to-date in 2020. Lithia & Driveway financed this transaction using capital recently raised in concurrent equity and debt offerings that closed in early October.

“Sterling Motorcars is a high-performing fixture in the Washington D.C./Beltway corridor and is well-respected for the exceptional customer service and attention to detail they provide their clientele,” said LAD’s President and CEO Bryan DeBoer. “This is a very important milestone for Lithia and expands our national footprint in the mid-Atlantic. We are excited to welcome their team to the Lithia Motors family.”

About Lithia & Driveway:

LAD is a growth company powered by people and innovation with a 5-year plan to profitably consolidate the largest retail sector in the country. They are a leading provider of personal transportation solutions in the United States and are among the fastest-growing companies in the Fortune 500 (#6 on 10-Year EPS Growth, #4 10-Year TSR in 2020). By providing a wide array of products throughout the entire lifecycle of the consumer’s vehicle ownership experience, they build magnetic brand loyalty. Operational excellence is achieved by focusing the business on convenient and transparent consumer experiences supported by proprietary data science to increase market share, consumer loyalty and team performance. LAD’s omni-channel strategy will continue to pragmatically disrupt the industry by leveraging experienced teams, vast owned inventories, technology, and physical network. By purchasing strong businesses, they further strengthen this network, leveraging their national digital home channel Driveway and building upon their massive regenerating capital engine. Together, these endeavors create a unique and compelling high-growth strategy that provides transportation solutions wherever, whenever, and however consumers desire.

Sites:

www.lithiamotors.com

www.lithiainvestorrelations.com

www.lithiacareers.com

www.driveway.com

Lithia Motors on Facebook

http://www.facebook.com/LithiaMotors

Lithia Motors on Twitter

http://twitter.com/lithiamotors

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005516/en/

Eric Pitt

VP, Investor Relations and Treasurer

[email protected]

(541) 864-1748

Susan Donahue

Skyya PR

[email protected]

(646) 454-9378

KEYWORDS: Virginia Oregon District of Columbia United States North America

INDUSTRY KEYWORDS: Automotive Specialty Other Automotive General Automotive Luxury Performance & Special Interest Off-Road Trucks & SUVs Retail

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Upwork Welcomes New Chief Product & Experience Officer, Sam Bright

Visionary product leader joins world’s largest work marketplace

SANTA CLARA, Calif.–(BUSINESS WIRE)–Upwork (UPWK), the world’s largest work marketplace, today announced Sam Bright has joined the company as its new Chief Product & Experience Officer.

Bright is a senior operating executive with over 16 years of extensive experience scaling technology teams, businesses, and customer experiences. His career reflects a demonstrated track record of growing multi-billion dollar P&Ls, executing complex domestic and global transactions, and leading large teams through inflection points. Prior to joining Upwork, Bright was the Vice President and General Manager of Verticals at eBay and had P&L responsibility for the company’s North American vertical business units.

During prior roles at eBay, Bright executed 70+ partnerships in two years across B2C, C2C, product, marketing, verticals, and shipping domains, and spent time on the M&A strategy team, where he championed four transactions focused on machine translation, shipping, and cross-border trade. Before joining eBay, Bright advised on over $10 billion of tech mergers and acquisition deal processes at Bank of America Merrill Lynch, and served as an industry analyst at Forrester Research advising Chief Information Officers through tech research and consulting. He began his career leading market research for entrepreneurs at a business incubator.

“At Upwork, we’re committed to propelling the world of work forward and providing both clients and talent with more control and freedom over their businesses and careers,” said Hayden Brown, President and CEO of Upwork. “Sam is an innovative, bold, and visionary leader who will make a major impact on how we help our customers unlock their potential and discover the truly transformational new way of working that is only available through the Upwork marketplace.”

“I’m excited by the opportunity to lead product, design, and customer experience for the company at the forefront of helping businesses, from small to large, discover a powerful new way of working,” said Bright. “Upwork’s work marketplace is transforming the way people work by giving them access to a dynamic virtual talent bench that helps them unlock new possibilities for their company. I am also inspired by Upwork’s mission of creating economic opportunities so people have better lives, and look forward to building upon the end-to-end experience that brings this mission to life in bold new ways.”

Bright holds an M.B.A. from Harvard University and a B.A. in Management from Taylor University. He is credentialed as an NACD Governance Fellow, and serves on the Board of Directors at Benetech as well as on the Smithsonian’s National Postal Museum Advisory Council. Bright has been named to Black Enterprise’s 2018 List of the Most Influential Blacks in Technology, The Network Journal’s 2018 40 Under Forty class, and Savoy Magazine’s 2020 Most Influential Black Executives in Corporate America.

About Upwork

Upwork is the world’s largest work marketplace, connecting millions of businesses with independent talent around the globe. We serve everyone from one-person startups to 30% of the Fortune 100 with a powerful, trust-driven platform that enables companies and freelancers to work together in new ways that unlock their potential. Our talent community earned over $2 billion on Upwork in 2019 across more than 8,000 skills, including website & app development, creative & design, customer support, finance & accounting, consulting, and operations. Learn more at www.upwork.com and join us on LinkedIn, Twitter, and Facebook.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005518/en/

Amanda Diamondstein

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Professional Services Marketing Communications Technology Human Resources Internet

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Hyatt Announces Hyatt Loves Local Initiative in Support of Local Small Businesses Across the Globe

Many Hyatt hotels around the world are showing love for local small businesses impacted by COVID-19 while reigniting guests’ joy of travel through distinct, local experiences

CHICAGO–(BUSINESS WIRE)–
Driven by Hyatt’s purpose to care for people so they can be their best, Hyatt Hotels Corporation (NYSE: H) announces today the Hyatt Loves Local initiative, a global effort by Hyatt hotels to uplift and collaborate with small businesses that have been impacted by the COVID-19 pandemic. Nearly 60 Hyatt hotels and resorts in destinations across the Americas, Asia Pacific, Europe and the Middle East are providing complimentary resources and exposure to select local businesses that have struggled during the pandemic. In turn, these businesses are able to continue operating in different ways and offer Hyatt guests distinct and enriching experiences that foster a meaningful connection to the destination’s local community.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201117005541/en/

In this new travel landscape, Hyatt remains committed to reimagining the hotel experience – going beyond cleanliness to consider the entire hotel journey. Guided by creativity and care, Hyatt’s path forward is about reigniting the joy of travel. Hyatt Loves Local enriches the travel experience and helps strengthen local communities during this unprecedented time.

“By always listening to our guests, members and colleagues, we understand their strong desire to not only experience the Hyatt hotels’ destinations but also to have the opportunity to support local communities,” said Amy Weinberg, senior vice president, brand loyalty, brand marketing and consumer insights, Hyatt. “We have been caring for the communities in which Hyatt hotels operate for more than 60 years, and we are proud so many Hyatt hotels around the world are finding new, creative ways to lift up beloved local businesses in this time of need through Hyatt Loves Local.”

From culinary and wellness to fashion and art, Hyatt Loves Local community collaborations span a variety of industries and are taking place at Hyatt properties now and rolling out through the fall. Further, as part of Hyatt’s Change Starts Here commitment to foster inclusivity and achieve equality together, some Hyatt Loves Local collaborations are with minority-owned businesses, which are more likely to be disproportionately impacted by COVID-19.

A few ways Hyatt hotels are embracing Hyatt Loves Local across the U.S. include:

• Soul Food in the South: Hyatt Regency Atlanta is celebrating the city’s rich food culture by providing complimentary kitchen space to Anna Bell’s Kitchen Mac & Cheese shop, as well as selling Anna Bell’s goods in the hotel’s Lobby Market. The space at Hyatt Regency Atlanta allows Anna Bell’s, a minority-owned business, to continue selling its coveted homemade mac & cheese dishes to hungry locals and guests, while also expanding to ship its product nationally. The business previously prepared its recipes in commercial kitchens and sold products at farmers markets before the pandemic suspended many of these shop operations. Additional information on Hyatt Regency Atlanta and Anna Bell’s Kitchen Mac & Cheese collaboration is available here.

• Espresso in the Emerald City: In the heart of Seattle, Motif Seattle, a Destination Hotel, is collaborating with Monorail Espresso, a woman-owned business that started as a mobile espresso cart. As a result of the pandemic, Monorail Espresso saw sales drop 50% at its two open brick-and-mortar shops and have temporarily closed its third shop, so Motif Seattle was enthusiastic to help. Starting in late October through the end of 2020, the hotel will feature a pop-up shop, named MxM, in the lobby where visitors can purchase coffee growlers, beans and Monorail Espresso swag. MxM pop-up shop will be available 24 hours a day. Additional information on the collaboration is available here.

• Women’s Fashions in Ski Country: High in Colorado ski country, Grand Hyatt Vail is hosting a pop-up shop from local women’s clothing boutique Wild Heart. Owned by a former hotel employee, the shop was forced to close during the pandemic and has reopened with limited capacity. The Grand Hyatt Vail pop-up will help bolster Wild Heart sales and introduce the boutique to hotel guests seeking stylish apparel and accessories for their mountain getaway. Guests and locals can browse clothing and accessories on December 18^{from 3 to 6 p.m. in the hotel’s lobby, and monthly moving forward.}To learn more about Grand Hyatt Vail’s collaboration with Wild Heart, please call (970)-476-1234.

• Socially Distant Workouts in the Big Apple: Gild Hall, a Thompson Hotel in New York City, has opened its doors for concierge fitness company BACH to host on-property, socially distant yoga and Pilates sessions. Due to the pandemic, BACH was forced to stop training about 80% of its clients but the new arrangement with Guild Hall allows it to reach new clientele. Hotel guests receive an exclusive 10% off a session when booking services through the MINDBODY app, while BACH instructors enjoy complimentary fitness studio space inside Gild Hall. The collaboration launched October 2 and will continue through the end of the year. Book a class here.

• Supporting Sustainable Business in Charm City: Hotel Revival Baltimore, a Joie de Vivre Hotel, continues its ongoing commitment to supporting local black-owned businesses. Since October, the hotel has sourced all its toilet paper exclusively from West Baltimore-based, female-owned Lor Tush. Providing sustainable toilet paper made of 100% bamboo, Lor Tush launched six months early after seeing the demand for toilet paper at the height of the pandemic. Lor Tush also launched Lor Help in March, an effort to provide a free six-pack of toilet paper to families and individuals who lost income as a result of the pandemic. Hotel Revival is pitching in by distributing 5,000 rolls to community members in need. For additional information on the collaboration, please call (410) 727-7101.

• Hair Care in Hollywood: This fall in Los Angeles, Andaz West Hollywood teamed up with hair and beard experts at Barcode Barbershop to offer professional cuts and shaping and styling for men and women on the hotel’s rooftop overlooking the sparkling Sunset Strip. After temporarily closing during the pandemic, Barcode Barbershop has reopened at 25% capacity, so additional space at Andaz West Hollywood throughout September and October provided its stylists with the opportunity to offer more cuts than would otherwise be possible.

“We’re proud to participate in Hyatt Loves Local and offer kitchen space to Anna Bell’s Kitchen Mac & Cheese, not only as a way to care for our community but also as an extension of our commitment to food and beverage excellence,” said Derrick Morrow, general manager, Hyatt Regency Atlanta. “Beloved local purveyors like Anna Bell’s Kitchen Mac & Cheese help define Atlanta’s food and culture scene, and supporting them through the challenges presented by the COVID-19 pandemic is especially important. Making our collaboration even more special, our Hyatt Regency Atlanta guests love enjoying a classic Southern dish from a celebrated local business from inside our hotel.”

“The opportunity to collaborate with Hyatt Regency Atlanta through Hyatt Loves Local has enabled us to preserve and pivot our business while attracting new fans and customers during this challenging time,” said Kevin Mobley, owner of Anna Bell’s Kitchen Mac & Cheese.

Hyatt Loves Local collaborations at Hyatt properties around the world include Andaz Capital Gate, Abu Dhabi’s work with International Artists Management (iAM) to commission four local artists for pop-up shows in the hotel’s gallery through November, Park Hyatt Vienna’s collaboration with specialty food and wine retailer Kate & Kon for a winter pop-up shop and champagne lounge on the hotel’s terrace from December through February 2021, and Grand Hyatt Playa del Carmen’s weekly “Mini Market” showcasing works from local artisans like hat-maker Equinoxio, taking place every Friday since July through the end of the year.

For more information about Hyatt Loves Local and participating property collaborations, please see a fact sheet HERE.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

ABOUT HYATT HOTELS CORPORATION

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company offering 21 premier brands. As of September 30, 2020, the Company’s portfolio included more than 950 hotel, all-inclusive, and wellness resort properties in 67 countries across six continents. The Company’s purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top employees, build relationships with guests and create value for shareholders. The Company’s subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, vacation ownership properties, and fitness and spa locations, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination®, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, Joie de Vivre®, Hyatt House®, Hyatt Place®, tommie™, UrCove, Hyatt Residence Club® and Exhale® brand names, and operates the World of Hyatt® loyalty program that provides distinct benefits and exclusive experiences to its valued members. For more information, please visit www.hyatt.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005541/en/

Jorian Weiner

Hyatt

312-780-3004

[email protected]

Jennifer Rubin

Hyatt

312-780-5808

[email protected]

KEYWORDS: Illinois United States North America

INDUSTRY KEYWORDS: Lodging Destinations Travel Vacation

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Motif Seattle, a Destination Hotel, collaborates with Monorail Espresso, a woman-owned coffee company. (Photo: Business Wire)

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Andaz West Hollywood teamed up with hair experts, Barcode Barbershop, on the hotel’s rooftop overlooking the Sunset Strip (Photo: Business Wire)

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Hyatt Regency Atlanta celebrates the city’s food culture by providing kitchen space to Anna Bell’s Kitchen Mac & Cheese (Photo: Business Wire)

Artificial Intelligence Technology Solutions Receives ROSA Order from Large Construction Company

HENDERSON, Nev.–(BUSINESS WIRE)–
Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly-owned subsidiary Robotic Assistance Devices (RAD) has received an order from a large construction company for what RAD expects as the first of many ROSA units to be deployed at the client’s managed properties across the United States.

ROSA is a self-contained, artificial intelligence-driven security and communication solution capable of human and vehicle detection, including license plate recognition. With its dual 5MP PTZ cameras providing up to a 180° field of view, ROSA is easily installed on a post or directly on a wall. ROSA does not require any networking resources or installation and instead connects to the cloud via an enhanced cellular connection. All data and video collected by ROSA is stored securely on the cloud and RAD’s visual control system, RADSOC provides real-time alerts to local security personnel or others remotely monitoring.

“RAD is witnessing a strong increase in property management and construction companies looking for more robust and affordable security solutions,” said Steve Reinharz, President of RAD. “These types of businesses need more than simple surveillance of their properties, they need real-time alerting and digital documentation of trespassers or intruders, without the expense of placing a costly security guard on the premises. We’re thrilled that this large client has chosen RAD’s ROSA as a solution.”

RAD recently commented that their overall sales funnel continues to accelerate and it is foreseeable that the Q3 ending sales plus contracts number may exceed the 133% growth noted in a prior press release. Furthermore, the company directs attention to www.radroameo.com for additional details on the rollout of their outdoor security robot, ROAMEO.

The company may post important information about its subsidiaries RAD-M and RAD on the websites www.radroameo.com and www.roboticassistancedevices.com and through tweets from RAD/RAD-M President and CEO Steve Reinharz (https://twitter.com/SteveReinharz).

CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are “forward-looking statements” that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Artificial Intelligence Technology Solutions to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. Artificial Intelligence Technology Solutions undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Artificial Intelligence Technology Solutions expectations.

About Artificial Intelligence Technology Solutions (AITX)

AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD and RAD-M companies help organizations streamline operations, increase ROI and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services, and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education and healthcare. To learn more, visit www.roboticassistancedevices.com or follow us on Twitter @RADbotsecurity.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005699/en/

Investor Relations Contact

The Waypoint Refinery, LLC

845-544-5112

www.thewaypointrefinery.com

Steve Reinharz

949-636-7060

KEYWORDS: United States North America Nevada

INDUSTRY KEYWORDS: Software Construction & Property Audio/Video Hardware Technology Other Construction & Property Other Technology Security

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INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Interface, Inc. and Encourages Investors to Contact the Firm Before January 11, 2021

NEW YORK–(BUSINESS WIRE)–
The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Interface, Inc. (“Interface” or the “Company”) (NYSE: TILE) securities during the period from March 2, 2018 through September 28, 2020, both dates inclusive (the “Class Period”). Investors have until January 11, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Interface had inadequate disclosure controls, procedures, and internal control over financial reporting; (ii) consequently, Interface, inter alia, reported artificially inflated income and earnings per share (“EPS”) in 2015 and 2016; (iii) Interface and certain of its employees were under investigation by the Securities and Exchange Commission (“SEC”) with respect to the foregoing issues since at least as early as November 2017, had impeded the SEC’s investigation, and downplayed the true scope of the Company’s wrongdoing and liability with respect to the SEC investigation; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On April 24, 2019, Defendants filed a current report on Form 8-K with the SEC, disclosing that Interface “received a letter in November 2017 from the [SEC] requesting that the Company voluntarily provide information and documents in connection with an investigation into the Company’s historical quarterly [EPS] calculations and rounding practices during the period 2014-2017”; that “[t]he Company subsequently received subpoenas from the SEC in February 2018, July 2018 and April 2019 requesting additional documents and information”; and that “[i]n the fourth quarter of 2018, the Company conducted at the SEC’s request an internal investigation into these and other related issues for seven quarters in 2015, 2016 and 2017.” On this news, Interface’s stock price fell $1.43 per share, or 8.37%, to close at $15.66 per share on April 25, 2019.

Then, on September 28, 2020, the SEC announced the conclusion of its investigation into Interface’s historical quarterly EPS calculations and rounding practices. Interface agreed to pay a $5 million fine to resolve the matter and was ordered to cease and desist from violating the federal securities laws. In the SEC’s enforcement order issued that same day, the SEC also disclosed how, inter alia, “Interface employees caused Interface to produce documents in response to Commission investigative requests that were suggestive of contemporaneous support for journal entries that, in truth, did not exist at the time the entries were recorded,” and had modified certain documents after the SEC’s investigation began. On this news, Interface’s stock price fell $0.20 per share, or 3.13%, over the following two trading sessions to close at $6.18 per share on September 29, 2020.

If you acquired Interface securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005808/en/

Kirby McInerney LLP

Thomas W. Elrod, Esq., (212) 371-6600

[email protected]

www.kmllp.com

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Legal Professional Services

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Jefferies Announces Research Alliance With SMBC Nikko Securities in Japan

NEW YORK & HONG KONG & LONDON & TOKYO–(BUSINESS WIRE)–
Jefferies today announced that it has established a research alliance with SMBC Nikko Securities in Japan. Under the arrangement, SMBC Nikko Securities will translate and distribute selected U.S. equity research reports published by Jefferies to SMBC Nikko Securities’ retail clients in Japan. The 2020 Institutional Investor All-America Research Survey placed Jefferies 8th in the U.S. this year, and the firm regularly ranks highly in similar analyses.

Pete Forlenza, Global Head of Equities at Jefferies, commented, “This alliance reflects the fast-growing presence of Jefferies’ equities franchise for clients all over the world. As part of our equity research coverage universe, Jefferies directly covers more than 3,200 companies globally, including over 1,100 companies in the U.S., as well as approximately 700 additional companies under research coverage through several co-branded alliances in APAC, providing Jefferies’ clients with robust and comprehensive coverage of regional companies. This new alliance with SMBC Nikko Securities represents another innovative way to reach and service global clients and investors interested in Jefferies’ industry-leading U.S. equities research.”

Makoto Nishioka, Executive Officer and Head of Product Marketing at SMBC Nikko Securities INC, commented, “We believe that with increasing interest in U.S. equity assets by our retail customers, analyst reports prepared by experts in the United States have become even more important. This research alliance with Jefferies will strengthen our offering for customers who already are investing in or considering investing in US equities. We are very pleased to address this strong interest in U.S. stocks as we continue to expand the information that meets our customers’ needs.“

With this research alliance, SMBC Nikko Securities will establish a new translation platform to convert the Jefferies research reports into Japanese and provide them to customers together with the original English version. Research on high-profile stocks will be translated initially, with coverage gradually expanding to about 100 stocks. The service will first be provided through the SMBC Nikko Securities sales staff and eventually via email and the Nikko EZ website system.

This alliance with SMBC Nikko Securities further strengthens Jefferies’ growing equities franchise in Asia. During the past several years, the firm has significantly expanded its business in the region, adding approximately 200 Jefferies employees in the last two years to better serve its global institutional client base.

Previously, Jefferies entered into similar arrangements with DBS Wealth of Singapore and Standard Bank’s SBG Securities to distribute selected Jefferies’ equity research reports to certain clients of these institutions.

About Jefferies

Jefferies Group LLC is the largest independent, global, full-service investment banking firm headquartered in the U.S. Focused on serving clients for nearly 60 years, Jefferies is a leader in providing insight, expertise and execution to investors, companies and governments. Our firm provides a full range of investment banking, advisory, sales and trading, research and wealth management services across all products in the Americas, Europe and Asia. Jefferies Group LLC is a wholly owned subsidiary of Jefferies Financial Group Inc. (NYSE: JEF), a diversified financial services company.

About SMBC Nikko Securities

SMBC Nikko Securities is Japanese Major Securities, founded in 1918 as Kawashimaya shoten. Over the past 100 years, SMBC Nikko Securities have provided high-quality consulting services and solutions through 140 branches in Japan. Since October 2009 SMBC Nikko Securities joined the Sumitomo Mitsui Financial Group (TSE: 8316), redoubling efforts in improving ability to support clients, both individuals and corporates, and enhancing capabilities as the core securities company in the full line financial group.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005801/en/

For media inquiries please contact:

Richard Khaleel, +1 212 284 2556, [email protected]

KEYWORDS: New York United States United Kingdom Japan Hong Kong North America Asia Pacific Europe

INDUSTRY KEYWORDS: Finance Agriculture Banking Natural Resources Professional Services

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Company Builds a Future on Artificial Intelligence Starting with a Platform That Reads, Writes and Reasons like a Lawyer

Shop Small® and Pay It Forward on Small Business Saturday®: Social Media Endorsements Can be Worth an Estimated $197 Billion for U.S. Small Businesses

American Express calls on consumers to Shop Smalland Share Joy by posting shout outs of their favorite small businesses on social media throughout the holiday season

NEW YORK–(BUSINESS WIRE)–
This holiday season, American Express (NYSE: AXP) is kicking off its 11^th annual Small Business Saturday with a social media campaign that can help amplify the positive impact that U.S. consumers can have on small businesses. According to the American Express Shop Small Impact study, released today, the majority of (78%) small business owners say that positive feedback on social media is a significant driver of business. In fact, the study found that endorsements of small businesses on social media may be worth as much as an estimated $197 billion for the U.S. small business economy¹. Beyond that perceived value, positive social media mentions can go even further this year, as 89% of consumers say they are more likely to shop at a small business that friends or peers have recommended.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201117005491/en/

(Photo: Business Wire)

This year’s Small Business Saturday, which will take place on November 28 during Thanksgiving weekend, is an important part of the holiday season for small merchants as they work to recover from the economic impact of the COVID-19 pandemic. In 2019, an estimated 110 million people participated in Small Business Saturday, and sales hit a record high with an estimated $19.6 billion in reported spending². Initially founded in 2010 by American Express in response to the Great Recession, Small Business Saturday has evolved into a year-round global Shop Small campaign to support small merchants, and earlier this year, American Express helped jumpstart spending at small businesses by committing more than $200 million through the company’s largest ever global Shop Small campaign³.

“Small Business Saturday is an important part of our global Shop Small campaign, and small businesses need our support more than ever as they continue to navigate the effects of COVID-19,” said Elizabeth Rutledge, Chief Marketing Officer, American Express. “We know 88% of U.S. consumers feel a personal commitment to support small businesses in the wake of the pandemic. Whether online, curbside or safely in store, we’re reminding consumers that they can help make an impact by shopping small and sharing their favorite small businesses on social media all holiday season long.”

To mobilize the power of social media heading into this year’s Small Business Saturday andall holiday season long, American Express invites consumers to Shop Small at their favorite small merchants – both in-store and online – and share their support on social media. Simply tag the small merchants that you shop at on social media and share what you love about them – from a favorite product to the great service they provide – it can really go a long way to support a small business this holiday season.

U.S. CONSUMERS: ENTHUSIASTIC TO SHOP SMALL

Fortunately, shoppers want to do their part to support small businesses this holiday season – 75% will Shop Small because they want to support their favorite local shops and restaurants during this challenging time, and 42% said they supported a small business on social media. The study also reveals that the effects of COVID-19 have sparked feelings of deep responsibility among consumers to support the places they love this Small Business Saturday and beyond. A large majority of consumers (88%) feel a personal commitment to support small businesses in the wake of the pandemic and in a divided year, 95% of Americans agree that supporting small businesses unites their community.

“Small businesses connect our communities, you get to know the owner and your neighbors who come in every morning for their coffee fix,” said Mike Salvatore, Owner, Heritage Bicycle & Coffee in Chicago, IL. “If they then recommend us to 100 of their friends their word, their value, their review, will go so much farther and will mean that much more to potential customers.”

SMALL BUSINESSES: OPTIMISTIC & INNOVATING

Almost all (92%) of small business owners have pivoted the way they do business to stay open during the pandemic including selling on social (38%) or a third-party platform (28%), introducing curbside pickup (46%) or contactless delivery (40%).

Now, as the biggest shopping season of the year approaches, 46% of small business owners are counting on above average holiday sales to stay in business in 2021. Sixty-four percent have a positive outlook for their holiday sales and say that Small Business Saturday is more critical than ever. As a result they are innovating by offering extended store hours (41%), using social media as a storefront for the first time (25%), partnering with other businesses in their community to offer something special to customers (25%) and offering giveaways to customers (35%).

“We’ve tried so many different ways to keep engaged and in touch with our customers,” said Ann Cantrell, Owner, Annie’s Blue Ribbon General Store in Brooklyn, N.Y. “We’ve done Instagram Live events, reached out through social media and conducted some virtual shopping appointments over the phone. All of those pivots allowed us to stay connected to our customers during a difficult time which is so important to us.”

BACKING SMALL BUSINESSES ALL-YEAR LONG

Recognizing the devastating effects of COVID-19 on small businesses, American Express has made several commitments to help small businesses:

• Committed more than $200M to jumpstart spending at small businesses through the company’s largest ever global Shop Small campaign.
• Created Stand for Small, a coalition of more than 100 large companies that provide tools, resources and advice to support small businesses.
• Launched the Coalition to Back Black Businesses, which includes a $10 million commitment in grants and mentorship for U.S. Black-owned small businesses.
• Pledged to double its spend with minority-owned suppliers in the U.S. to $750 million annually by the end of 2024.
• Committed to providing access to capital and financial education to at least 250,000 Black-owned small and medium-sized businesses in the U.S.
• Launched a small business Services and Savings Hub and delivered COVID-19 recovery kits to merchants with “open for business” signage and collateral for in-store safety.

More information about these and other efforts can be found here. Visit Shopsmall.com to learn more about how to help support small businesses this holiday season.

ABOUT AMERICAN EXPRESS

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Key links to products, services and corporate responsibility information: charge and credit cards, business credit cards, travel services, gift cards, prepaid cards, merchant services, Accertify, InAuth, corporate card, business travel, and corporate responsibility.

ABOUT SMALL BUSINESS SATURDAY

November 28th is the annual Small Business Saturday, proudly backed by American Express. Dedicated to supporting the diverse range of local businesses that create jobs, help boost the economy, and enhance neighborhoods around the country, Small Business Saturday was created by American Express in 2010 in response to small business owners’ most pressing need: getting more customers. Learn more at and connect with us on ShopSmall.com, instagram.com/shopsmall, facebook.com/SmallBusinessSaturday.

ABOUT SHOP SMALL

Shop Small is an international movement to support small, independent businesses and call attention to the valuable and distinct contributions they make to their communities and the economy. Shop Small celebrates small businesses ranging from retail stores and restaurants to fitness studios and salons, and everything in between. The Shop Small movement was spurred by the widespread participation in Small Business Saturday, a day founded in 2010 by American Express in the U.S. This national holiday shopping tradition is dedicated to celebrating small businesses and driving more customers through their doors on the Saturday after Thanksgiving. Learn more and connect with us on ShopSmall.com, instagram.com/shopsmall, facebook.com/SmallBusinessSaturday.

ABOUT THE AMERICAN EXPRESS SHOP SMALL IMPACT STUDY

The American Express Shop Small Impact Study was conducted by Teneo on behalf of American Express. The study consisted of three online surveys conducted between October 23 and November 8, 2020. The first survey was conducted among a sample of 1,004 U.S. adults 18 years of age and older. Consumer data was weighted by five variables: age, gender, geographic region, race/ethnicity and education to ensure reliable and accurate representation of the total U.S. population, 18 years of age and older based on U.S. Census data. Two surveys were conducted among small business owners/managers in U.S. with companies that conduct sales at a brick-and-mortar location in one of the following industries: arts/entertainment/recreation, retail trade, restaurant/bar/coffee shop/hotel/hospitality, or personal services. One survey had a sample size of 501, the other had a sample size of 503.

¹ Based on an average of the estimated percent of revenue generated by positive feedback on social media as reported by small business owners surveyed in the 2020 American Express Shop Small Impact Study and extrapolated based on the overall economic impact of U.S. consumer-facing small business as reported in the 2018 American Express Small Business Economic Impact study.

² The 2019 Small Business Saturday Consumer Insights Survey was conducted by Teneo on behalf of American Express and the National Federation of Independent Business (NFIB). The study is a nationally representative sample of 2,287 U.S. adults 18 years of age or older. The sample was collected using an email invitation and an online survey. The study gathered self-reported data and does not reflect actual receipts or sales. It was conducted anonymously on December 1, 2019. The survey has an overall margin of error of +/- 2.0%, at the 95% level of confidence. Projections were based on the current U.S. Census estimates of the U.S. adult population, age 18 years and over.

³ Our commitment of more than $200M supported a Card Member offer and the associated marketing campaign to encourage American Express Card Members in select countries around the globe to Shop Small in their local communities and online.

Location: U.S.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005491/en/

AMERICAN EXPRESS

Megan Hunsicker

[email protected]

DAY ONE AGENCY

Keri Fitzpatrick

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Finance Other Retail Banking Communications Professional Services Small Business Social Media Retail Online Retail

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