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Is the housing bubble about to burst? Ask our expert about the state and stability of the market
With interest rates on the rise, inflation increasing and home prices out of reach for many, Americans are worried about their financial future. Media now covering the U.S. housing market are seeing signs that the bubble might be ready to burst. With a potential recession looming, some people are looking back to the last housing collapse with trepidation. But economists note that the ingredients causing the 2008 global financial crisis aren't there this time. This is an important issue, and one that will impact millions of Americans. If you’re a reporter interested in covering this topic, let the experts at Florida Atlantic University help with your coverage and questions. Ken H. Johnson, Ph.D., an economist and associate dean in FAU’s College of Business, is available to speak to the media. Simply click on his icon to arrange an interview and time.
Aston University wins share of £118m funding to accelerate its research impact
The Impact Acceleration Account (IAA) investment over three years focuses on maximising impact, knowledge exchange, translation and commercialisation potential within research organisations Funding allows researchers to unlock the value of their work, including early-stage commercialisation of new technologies The University will receive over £580,000 ‘to accelerate UK bright ideas into global opportunities'. Aston University has won a share of £118m in UK Research and Innovation (UKRI) funding. The Impact Acceleration Account (IAA) investment over three years focuses on maximising impact, knowledge exchange, translation and commercialisation potential within research organisations. Funding allows researchers to unlock the value of their work, including early-stage commercialisation of new technologies and advancing changes to public policy and services such as NHS clinical practice. UKRI, a government body responsible for delivering £8bn research and innovation funding each year, is investing £118 million in the latest round of IAAs to translate research across 64 universities and research organisations. Aston University was successful in gaining both Engineering and Physical Sciences Research Council (EPSRC) and Biotechnology and Biological Sciences Research Council (BBSRC) IAA funding – the latter one of only 15 IAA full awards nationally. Luke Southan, technology transfer manager at Aston University, said: “This funding will be transformational for Aston University’s capacity to get the best good from the research it carries out. “We have a pipeline of world-changing inventions, medical treatments, net-zero initiatives and spinout companies that we can give the greatest chance of success through these highly prestigious pots of funding.” UKRI director of commercialisation, Tony Soteriou, said: “The UK is home to some of the brightest, most innovative and creative research teams in the world. They have the ideas and they have the entrepreneurial energy to create businesses and services that could turn sectors on their head. “What they need, what every great commercial idea needs, is support in the critical early stages. The Impact Acceleration Account is the catalyst that allows projects to grow to the next level, attracting investment, forging partnerships and creating jobs. “The breadth of UKRI allows us to work right across the UK’s world-class research and innovation system to ensure it builds a green future, secures better health, ageing and wellbeing, tackles infections, and builds a secure and resilient world.”
There's some important research taking place by an expert at Georgia Southern University - and the findings could result in serious and positive changes to nutrition for those living in rural, remote and under-served communities in Latina America and around the world. Ana Palacios, Ph.D., assistant professor in the Department of Public Policy and Community Health in the Jiann Ping Hsu College of Public Health, is working on a clinical trial with a community in Honduras to find out whether giving eggs to kids between the age of 6 to 24 months will help them in terms of growth, food security and dietary diversity. Her work was recently featured in Forbes Magazine. "My heart, of course is in Latin American populations, and I have a community-based trial in Honduras that is assessing the effectiveness of an egg intervention," she says, adding that this community-based participatory research project is covering about 600 young children from more than 30 rural under-served communities in the Honduras Highlands. "Some evidence has shown that eggs can improve linear growth in some populations of Latin America," she says, "We are passionate in that this will provide a replicable, inexpensive, scalable and sustainable alternative to improve young children's nutrition, dietary diversity, food insecurity, economic development and overall reduce disparities." Palacios hopes the study will provide a solution that can be used in a wide variety of contexts in under-served rural areas throughout Latin America and the Caribbean, and other regions around the globe. June 16 - Forbes It's a fascinating topic - and research that could truly be impactful on a global scale. The full article about Palacios' work is attached. If you are a journalist looking to know more about this research - then let us help. Palacios' research is focused on addressing disparities in access to nutrition, health, and education in under-served populations. She is available to speak with media - simply reach out to Georgia Southern Director of Communications Jennifer Wise at jwise@georgiasouthern.edu to arrange an interview today.
Professor Jun Du and Dr Oleksandr Shepotylo from Aston University analysed the effects of the end of the Brexit transition period on UK exports This equals to a nearly 16% of UK total exports in the first half of 2019 and 70% of the documented total reduction in the EU exports in the same period The research suggests non-tariff measures (NTMs) are responsible for the fall in trade between the UK and EU. New research by experts at Aston University for the Enterprise Research Centre (ERC) has found that UK exports experienced a large, negative, statistically significant decline in 2021 at the end of transition after the EU-UK Trade and Cooperation Agreement (TCA) was put in force. The TCA is a free trade agreement signed on 30 December 2020 between the European Union (EU), the European Atomic Energy Community (Euratom) and the United Kingdom (UK). Professor Jun Du and Dr Oleksandr Shepotylo used a Synthetic Difference in Differences (SDID) estimator to construct a counterfactual of the UK had it not exited the EU and entered the TCA, to compare its trading performance. This was done by comparing the actual performance of the UK with the modelled performance in 2021 with the same periods of 2018-2020. They also examined the extent to which the overall TCA effect has been due to the increased frictions due to non-tariff measures (NTMs). They estimate that this amounts to a 22 per cent reduction in exports to the EU and a 26 per cent reduction in imports from the EU over the first half of 2021, relative to the counterfactual scenario of the UK remaining in the EU. The research confirmed that NTMs are responsible for the adverse TCA effect on UK trade with the EU and that the magnitude of loss was significant. It was equivalent to a reduction of £12.4 billion in UK exports over the first six months period of 2021, notably in food and drink, wood and chemicals sectors. This equals to 15.6% of UK total exports in the first half of 2019, and 70% of the documented total reduction in the EU exports in the same period. Jun Du, professor of economics at Aston University, lead on internationalisation research at the ERC and director of the Centre for Business Prosperity (CBP), said: “These results underscore the heavy costs of erecting trade barriers on the UK’s side with its largest trade partner. “Trade frictions, due to sanitary and phytosanitary (SPS) measures (measures to protect humans, animals, and plants from diseases, pests, or contaminants), are acute problems due to the EU exit. “Reducing some of the NTMs between the EU-UK, by exploring mechanisms such as equivalence in SPS measures or other ways to reduce businesses’ burden to the minimum level possible. “More complicated and challenging are the technical barriers to trade, but they could potentially cause significant damage to the UK economy. Maintaining and broadening the established arrangements of the current TCA provision, despite being limited, through some form of mutual recognition of specific practices or international regulations for selected sectors, should be the ambition of UK government to ease the TBT (technical barriers to trade). “Future EU-UK co-operation is critical and mutually beneficial but requires political will and strong leadership.” Dr Oleksandr Shepotylo, a senior lecturer in Economics, Finance and Entrepreneurship Department at Aston Business School, co-wrote the working paper and said: “Continued alignment with the EU regulations was a demand from many businesses throughout the Brexit process, and it is expected to be still important post Brexit. This must be conveyed to policy makers. “In the short term, preparedness and adaptability have rewarded and will continue to reward businesses facing challenges and disruptions. The need for learning and training remains paramount. “In the medium and longer term, businesses will have to stay competitive to retain access to the global market, to perform better in it, and to gain more benefit from it. This is the case for all firms even if the ways to achieve it may differ. In addition, businesses need to consider adopting new business models through which they can balance the need for lean production with resilience, as well as weighing up economic, social, and environmental gains. Despite the many considerable challenges, there are boundless avenues where opportunities for breaking through are present.” You can read the full report on the ERC website here.
‘Rising star’ graduate: Sylvia Ofori’s journey from Ghana to Georgia Southern to Harvard
On her first flight from Ghana to the United States, Sylvia Ofori arrived in Atlanta, Georgia, at 1 a.m. By 4 o’clock the next afternoon, Ofori was in her first American classroom in Georgia Southern University’s Jiann-Ping Hsu College of Public Health on the Statesboro Campus. Jet-lagged and attempting to absorb a foreign campus and classroom procedures, Ofori was out of sorts when her professor, Isaac Chun-Hai Fung, Ph.D., encouraged her to apply for a student research position following class introductions. Within days, she’d interviewed and earned the spot, supported by funding from the Centers for Disease Control and Prevention. In their first meeting, Fung challenged Ofori to publish 10 papers by the end of her public health doctoral program. “I wasn’t familiar with publications, but he threw that challenge at me from the beginning,” Ofori remembered. “Wow. His plan was for me to start working on dissertation-related projects immediately.” Ofori’s first project was a scoping review on the use of digital technology to improve and monitor handwashing in children. Following a presentation of her review at the University’s 2019 Research Symposium, her work was published in an academic journal, and many more followed as co-author with Fung and another mentor, Kamalich Muniz-Rodriguez, DrPH. By the end of her doctoral training, Sylvia had published 11 papers with Fung, and three more manuscripts will be submitted. On May 13, Ofori earned a DrPH in public health with a concentration in epidemiology as she crossed the stage in one of two Savannah commencement ceremonies. In June, she’ll begin as a Postdoctoral Fellow in the Department of Epidemiology at Harvard University to continue global public health research she began at Georgia Southern. There's a full article detailing Sylvia's amazing story - and her success to date. It's attached here: If you're a reporter looking to know more about Sylvia's story, or how Georgia Southern has students from around 100 countries across the world currently studying on both the Statesboro Campus and the Armstrong Campus in Savannah. Simply reach out to Georgia Southern Director of Communications Jennifer Wise at jwise@georgiasouthern.edu to arrange an interview today.
Housing bubbles, student debt, stagnant salaries – America need a reset?
There’s an old saying we all know about those who don’t pay attention to history … they’re doomed to repeat it. Over and over and over sometimes. One would think after the 2008 housing crisis that nearly decimated the American and global economy – that we’d all be somewhat wiser. According to some, that may not be the case. America is once again approaching the same cliff it took a decade to climb up from. The measures that were put in place to prevent massive amounts of foreclosures a decade ago are now coming home to roost. “This massive problem of underwater homeowners could not be resolved only by shutting off the spigot of foreclosures. That is why a total of 25 million permanent mortgage modifications and other so-called 'workout plans' were put in place from 2008 until June 2018 according to data provider Hope Now. Modifying mortgages as an alternative to foreclosure just kicked the can down the road. It succeeded in bringing these delinquent homeowners into current status. Yet millions of them are re-defaulting on these modified mortgages. The number of re-defaults is increasing relentlessly around the U.S. Worse yet, many re-defaulters are on their second- or third mortgage modification.” - MarketWatch Mortgages once again are vulnerable as the housing market remains painfully out of sync with the rest of the economy. As well, with millennials facing massive student debt, a shortage of new builds means fewer people can enter the market nor can they afford to. Combine that with salaries flatlining and not keeping pace with the rising price of goods – it’s not a sunny forecast. Are you covering this potential financial crisis? What will America have to do to course correct and ensure we don’t have a repeat of the 2008 meltdown? And how did the country’s leaders allow this to happen? Did no one see this coming? There are a lot of questions and that’s where an expert from New Jersey Institute of Technology can help. Professor Michael Ehrlich's research focuses on financial markets and institutions, with an emphasis on market failures. He has written about the unintended consequences of financial market innovation and is Associate Director of the Leir Center for Financial Bubble Research. To reach Michael, simply click on the button below.
Sustainable consumption in the age of CO2
Experts like NJIT’s Maurie Cohen are looking beyond electric cars and alternative sources of energy to combat the rapid rise of carbon dioxide emissions. Their approach is more fundamental and societal, touching everything from the size of our homes to where we work and what we buy. The global pandemic sparked new ways of living and working, bringing previously niche approaches into the mainstream, including: Working from home Tiny houses Local swap meets Live nomadically, work digitally Cohen, co-founder of the international Sustainable Consumption Research and Action Initiative and author of “The Future of Consumer Society,” is no newcomer to such ideas. He has studied sustainable consumption and its relationship to environmental policy for 20+ years, bringing a long-term perspective to addressing the carbon crisis. As seen in stories from Fortune, Fast Company, Vice and Yahoo News, Cohen can speak cogently about the implications of behavioral trends such as Facebook “no buy” groups, digital nomads and the shift toward working from home. To reach Cohen, simply click on the button below.
What big data tells us – in health care, cybersecurity, sustainability and elections
Every day sees more data created around the world than every day before, with a staggering 64 billion terabytes amassed in 2020 alone. Big data leaves large organizations wondering how to manage their share and individuals concerned about how to be heard. And both groups fret about information overload, privacy and security. NJIT’s David Bader is adept at discussing these issues as a nationally recognized data scientist who seeks new ways for companies to analyze massive data streams that arrive in real-time. He’s also a pioneer of Linux supercomputing who’s developing software to bring the power of supercomputers to regular people. Additionally, as director of NJIT's Institute for Data Science, Bader seeks powerful solutions to myriad global challenges. As he explains: “We personalized health and medicine. We look at cyber security applications. We look at urban sustainability. We even look at things like, how do we ensure trustworthy elections?” To interview him, simply click on the button below.
Metaverse...have you met AcceleRoute?
The Internet is a testament to the power of evolution. But there's a bigger picture looming. A discontinuity. Driven by a new breed of application environments including the Metaverse, multi-player gaming, VR and more. Will this drive the need for a "new Internet"? Many believe, as a minimum, networking will need a serious upgrade. Moore's Law can cover us for throughput for awhile, but latency is a different story. The speed of light creates the limit. No getting around that. There is only one solution. Park the services closer to the users. And that ushers in a new architectural paradigm in the form of Edge Data Centers. Those facilities will operate in global federations, serving tight geographies while hot-syncing with each other. A tidy solution. Job done, right? Not so fast. If people only cared about what and who is geographically close to them, we might be ok. Remember we need to park the services AND THE DATA close to the users. We're not talking about old slow data like websites, but the fast stuff like fast-twitch gaming, or VR, or avatar movements in the Metaverse. How can a byte in Tokyo stay in "white-hot" sync with a byte in London? Predictive caching, that's how. The new frontier. The geography-buster. Let's say you’re VR-interacting with someone across the planet, there will be a lag. It won't feel real. But what if the application servers use laws of physics to predict far-end movement for local render, with algorithms to reconcile laggy incoming real-position data. Done right, that might feel real. Take that example and scale it in all directions. That's the future. Can incrementally-evolved networks handle that? Its anybody's guess what the future of networking will look like but let's try anyway. Some believe this brave new application world will be the catalyst for significant infrastructure change. Not the " N+1" kind, but the "all-new" kind. The kind we thought we'd never need because incremental upgrades were getting it done. But that was before the Metaverse discontinuity. AcceleRoute is a forward-thinking next-generation network architecture designed for this category of challenge. All-new thinking. Designed from the ground up around a bufferless core architecture, AcceleRoute achieves network throughput and latency on a scale not seen before. Bufferless means no hops. Essentially an endless supply of instantly provisioned virtual direct links, each with as much dynamic bandwidth as needed at any point in time. Incorporating novel paradigms like network fusion and expansion by constellations, AcceleRoute can scale to new orders of magnitude, all while embracing absolute simplicity for network control and management. An infinitely-expandable network, based on new principles, that can glue CPUs/DPUs/GPUs to globalized data with one seamless fabric. Perhaps a full AcceleRoute solution won't be required, but it’s likely the pursuit of network optimizations will be relentless. AcceleRoute represents 2 decades of invention embodied by 36 patents with over 700 claims and more on the way. That's a massive starting position for anyone playing the long game.
The Centre for Research in Ethnic Minority Entrepreneurship (CREME) has partnered with NatWest for the Time to Change report It sets out ten evidence-based recommendations for advancing the growth potential of ethnic minority businesses (EMBs) including increasing their GVA contribution from the current £25 billion a year to £100 billion The report is being launched at a special event on 10 May at NatWest Conference Centre in London with keynote speaker Sir Trevor Philips OBE. A new report from Aston University has set out a plan for advancing the growth potential of ethnic minority businesses (EMBs) in the UK. The Centre for Research in Ethnic Minority Entrepreneurship (CREME) has partnered with NatWest for the Time to Change report which sets out ten evidence-based recommendations to promote greater success and inclusion of ethnic minority businesses (EMBs) in finance and business support in the UK. Experts say the implementation of the recommendations could help tackle the multiple barriers faced by EMBs, particularly in accessing finance, markets and quality business support, and could increase their GVA contribution from the current £25 billion a year to £100 billion, highlighting the significant potential of EMBs to the UK economy. The report says that to combat racial inequality, there should be a UK-wide support for ethnic led businesses should be a standard feature of all future plans. This includes integrating them into broader policy agendas of inclusive growth, productivity and innovation. A more inclusive approach to enterprise is key to tackling wider social structural barriers such as unequal access to employment opportunities and product markets, and gender and ethnicity pay gaps. Concerted action is needed to support the growth ambitions of EMBs, particularly in light of damaging consequences of the pandemic for ethnic minority communities. The report calls for a strong action to eliminate the longstanding challenge of discouragement of ethnic minority entrepreneurs from seeking finance and business support. It found EMBs have been particularly hit hard by the Covid-19 pandemic due to the sectors in which they tend to operate and recommends recovery support is focussed on the businesses that need it most. The report also highlights the need for greater accountability of organisations across public, private and third sectors, including business support agencies, finance providers and large purchasing organisations, for their business engagement with EMBs. Professor Monder Ram, director of the Centre for Research in Ethnic Minority Entrepreneurship at Aston Business School, said: “This major report sets out an ambitious yet practical agenda to realise the potential of UK’s ethnic minority businesses. “The entrepreneurial ambition of ethnic minorities can play a crucial role in the UK Government’s vision of ‘Levelling Up’ prosperity across regions, promoting trade opportunities of ‘Global Britain’ and creating a more cohesive society. “Drawing on the latest research and examples of international best practice, the report presents a comprehensive approach to tackling the barriers faced by firms owned by ethnic minority communities. “We pinpoint key challenges and present recommendations – informed by extensive consultation with business support practitioners and entrepreneurs – that invite policy-makers, corporations and entrepreneurs to collaborate in a new partnership to advance entrepreneurial activities and the UK’s diverse communities.” The report calls for central government and local decision makers to develop clear objectives for inclusive entrepreneurship, informed by evidence, and ensure that EMBs can access quality business support that helps them grow. Dr Eva Kašperová, a research fellow at CREME, said: “To address the barriers faced by EMBs and help them realise their entrepreneurial potential will require commitment and leadership from the government as well as local business support ecosystem actors. “The current lack of an explicit UK-wide policy on inclusive entrepreneurship could mean that some parts of the country are left behind in terms of tackling structural inequalities and enabling entrepreneurs from ethnic minority communities and other under-represented or disadvantaged groups to access finance, wider markets and quality business support. “If past experience is a guide, ensuring commitment from key stakeholders may be the biggest challenge.” Andrew Harrison, head of Business Banking at NatWest Group, said: “As the UK’s biggest bank for business, we’re committed to championing small businesses and supporting growth, but we know that there are barriers which disproportionately affect Ethnic Minority Businesses (EMBs). “This is why we aim for at least 20% of the places on our 13 nationwide accelerator hubs to be for ethnic minority entrepreneurs. In 2021, 26% of businesses in our hubs were EMBs. “Only close collaboration can deliver meaningful change to ensure EMBs get the support they need to reach their full potential. Now is the time to accelerate action, and at NatWest we commit to playing an integral role in the change that is required.” The Centre for Research in Ethnic Minority Entrepreneurship (CREME) will share this report, inviting policy-makers, corporations and entrepreneurs to come together in a collaborative and strategic partnership to champion enterprise and advance entrepreneurial activities and the UKs diverse communities, further building an inclusive entrepreneurial eco-system supporting businesses to thrive at a launch event at NatWest Conference Centre in London on 10 May.
