NEW YORK — The New York Knicks want Jeff Hornacek as their next coach.The team is working on a deal to hire Hornacek, a person with knowledge of the details told The Associated Press on May 18.President of Basketball Operations Phil Jackson has had discussions with the former Phoenix Suns coach and there is mutual interest, but they have not begun negotiations on a contract, the person said on condition of anonymity because details of the coaching search are private.Bleacher Report first reported that the Knicks would hire Hornacek.The Knicks finished the season with Kurt Rambis as interim coach after Jackson fired Derek Fisher in February. Jackson also met with former Cleveland coach David Blatt and former Indiana coach Frank Vogel before turning his attention to Hornacek.Hornacek went 101-112 in 2 1/2 seasons in Phoenix before he was fired Feb. 1 with a 14-35 record.He led the Suns to a surprising 48-34 record in his first season, when they almost made the playoffs with a team that was expected to be one of the worst in the league, but the team was in one of the worst stretches in its history when he was dismissed.He was an unexpected candidate, given Jackson’s stated intention to hire someone with whom he had a relationship. Hornacek never played for or worked under Jackson, who won an NBA-record 11 championships as a coach.Rambis had been the only candidate Jackson identified after the season ended in April. He was only 9-19 after replacing Fisher, but is close with Jackson and runs the triangle offense that Jackson favors.Hornacek, who played in two NBA Finals with the Utah Jazz when they lost to Jackson’s Chicago Bulls, ran a fast-paced, guard-oriented offense in Phoenix.The Knicks finished 32-50 last season, their third straight season out of the playoffs.Jackson was in no hurry to make a hire, saying last month it could be May, or could be July. While other teams worked quickly to fill their openings, he took a trip across the country, posting some pictures on Twitter along the way.But he began talking at some point with Hornacek and will try to close a deal he could never get done with Steve Kerr two summers ago. Jackson said he let Kerr out of a verbal agreement when the Golden State job became available, and the Knicks ended up hiring Fisher.(BRIAN MAHONEY, AP Basketball Writer)TweetPinShare0 Shares
Bhubaneswar: Noted journalist and columnist Ranjit Guru passed away at a private hospital here following a brief illness, family sources said on Sunday. He was 61 and is survived by wife and a daughter. Guru, who was admitted to a private hospital here a few days ago, breathed his last in the early hours at around 12.30 am, they said. A host of dignitaries including Odisha Chief Minister Naveen Patnaik and Union Petroleum and Steel Minister Dharmendra Pradhan have condoled the demise of Guru. Guru had carved a special identity for himself by highlighting important issues through his writings and columns, Patnaik said on Twitter while expressing grief over the passing away of the senior journalist.
OTTAWA – The Bank of Canada raised its key interest rate target Wednesday. Here’s the text of the central bank’s announcement:The Bank of Canada today increased its target for the overnight rate to 1.75 per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1.5 per cent.The global economic outlook remains solid. The US economy is especially robust and is expected to moderate over the projection horizon, as forecast in the Bank’s July Monetary Policy Report (MPR). The new US-Mexico-Canada Agreement (USMCA) will reduce trade policy uncertainty in North America, which has been an important curb on business confidence and investment. However, trade conflict, particularly between the United States and China, is weighing on global growth and commodity prices. Financial market volatility has resurfaced and some emerging markets are under stress but, overall, global financial conditions remain accommodative.The Canadian economy continues to operate close to its potential and the composition of growth is more balanced. Despite some quarterly fluctuations, growth is expected to average about 2 per cent over the second half of 2018. Real GDP is projected to grow by 2.1 per cent this year and next before slowing to 1.9 per cent in 2020.The projections for business investment and exports have been revised up, reflecting the USMCA and the recently-approved liquid natural gas project in British Columbia. Still, investment and exports will be dampened by the recent decline in commodity prices, as well as ongoing competitiveness challenges and limited transportation capacity. The Bank will be monitoring the extent to which the USMCA leads to more confidence and business investment in Canada.Household spending is expected to continue growing at a healthy pace, underpinned by solid employment income growth. Households are adjusting their spending as expected in response to higher interest rates and housing market policies. In this context, household credit growth continues to moderate and housing activity across Canada is stabilizing. As a result, household vulnerabilities are edging lower in a number of respects, although they remain elevated.CPI inflation dropped to 2.2 per cent in September, in large part because the summer spike in airfares was reversed. Other temporary factors pushing up inflation, such as past increases in gasoline prices and minimum wages, should fade in early 2019. Inflation is then expected to remain close to the 2 per cent target through the end of 2020. The Bank’s core measures of inflation all remain around 2 per cent, consistent with an economy that is operating at capacity. Wage growth remains moderate, although it is projected to pick up in the coming quarters, consistent with the Bank’s latest Business Outlook Survey.Given all of these factors, Governing Council agrees that the policy interest rate will need to rise to a neutral stance to achieve the inflation target. In determining the appropriate pace of rate increases, Governing Council will continue to take into account how the economy is adjusting to higher interest rates, given the elevated level of household debt. In addition, we will pay close attention to global trade policy developments and their implications for the inflation outlook.Information noteThe next scheduled date for announcing the overnight rate target is December 5, 2018. The next full update of the Bank’s outlook for the economy and inflation, including risks to the projection, will be published in the MPR on January 9, 2019.
Register Now » The events industry is growing all around the world. According to Meeting Professionals International, events contribute $115 billion to the United States gross domestic product (GDP), with subsequent billions funneled to both state and federal tax revenue.The event industry isn’t just growing in the U.S., though — it’s also getting bigger in nations like the U.K., India and Japan.With that growth comes a need for technology that meets the consumers’ expectations and makes event production easier, and an influx of startups, entrepreneurs and venture capitalists are working together to develop solutions for the events industry.While this new technology makes a difference for eventgoers around the world, it is important to note how it changes the industry. Here are four of the most important updates:1. Tickets go mobileMobile is taking every industry by storm, and the events industry is no exception. The first wave of mobile innovation has come with ticket buying systems.“Ticketing is increasingly about establishing a higher touch point with your fans — it is about being made available to everyone, everywhere.” explains Neetu Bhatia, founder and CEO of Kyazoonga, a global online ticketing agency. Mobile ticketing also allows vendors to do a lot more. Bhatia explains, “Clients can access and manage the ticketing back-end in a much simpler fashion than the older terminal based systems – now anyone with a mobile smartphone can become a ticketing point-of-sale.”Consumers want have fully integrated mobile experiences during events, as well — research shows that usage rates for mobile apps at some events can be as high as 94 percent. As a result, venues, promoters and planners need to partner with providers who can take their experiences mobile. The good news is that customer adoption is usually quick: Research from Guidebook found that 88 percent of event professionals agreed the use of event apps improved attendee engagement.2. Cost reduction, revenue generation A study from Enterprise Event Marketing found that the use of event technology can create a 20 percent increase in event attendance while reducing related costs by up to 30 percent. Even so, numerous studies also indicate that one of the biggest reasons events professionals don’t integrate new technologies is due to costs.Companies and vendors will need to work harder to compete in an increasingly cost-sensitive industry.“We consider ourselves net revenue generators on a client’s profit and loss.” Bhatia shares, “We do that by using predictive analytics to enable and drive purchase decisions and algorithms to enhance the in-seat experience with real-time notifications to motivate future purchases.”In the past, providers have tried to be low-cost solutions, but the future of the industry may require them to be no-cost or provide additional value.3. Attendee dataBig data is king in most industries, but its potential remains unrealized in the events industry.Event tech expert Mike Piddock shares, “Event tech that gathers data, both during live events and presentations, and dipping into social media profiles to understand event communities, will be a must have rather than a nice to have.” Technologies like scannable QR codes, much like the ones used for online ticketing, can help event professionals collect data from attendees that are actively scanning different objects at a live event.Near Field Communication (NFC) and other location-based tracking used by companies like Google also serve to deepen consumer insights from live events. Google already tracks and publishes data about high-traffic times at entertainment locations, and can easily zero in on more specific data about what kind of searches originate from a live event. Similarly, NFC-enabled phones could help event organizers track where users most frequently purchased concessions or merchandise, giving rise to the potential of split testing live marketing tactics.4. Still-emerging trendsThough not yet mainstream, it’s important to note the trends that may have an impact on the industry in later years. The most likely development in the near term is cashless events. Mobile payments like Apple Pay and social payment platforms like Venmo are making the use of cash at events a thing of the past. This could significantly reduce costs for venues that have to deal with everything that comes along with cash management.Another shift may come in the use of VR technology. Virtual attendance has the potential to provide low-cost options for people who otherwise wouldn’t be willing to spend money on tickets. Additionally, those people could have a view from the best seats in the house without damaging ticket sales in those areas.The industry is rapidly investing in new technologies, but factors like cost and concerns surrounding the way tech integration may impact event experience continue to prevent some professionals from trying new solutions.Bhatia shared, “The shift to mobile, emphasis on complete experiences over transactions, and in-venue cloud-based systems rather than terminal driven access are just some of the key trends that will shape the events industry.”For businesses working to gain bids with major events providers, the focus should remain on being a cost-effective partner while providing solutions that increase attendee engagement.For event organizers, the key will be assessing what technologies have the best return on investment, both in revenue generation and attendee satisfaction. Those that capitalize on the right technologies stand to gain a significant competitive advantage in the evolving event landscape. 5 min read Opinions expressed by Entrepreneur contributors are their own. Free Webinar | Sept. 9: The Entrepreneur’s Playbook for Going Global Growing a business sometimes requires thinking outside the box. March 24, 2017