ResidentialBusiness

The smaller business owned by asset manager EJF Capital reported servicing 5,351 home loans with an unpaid balance of $1.18 billion in 2024. View the full article

Former business secretary paid £250,000 for his remaining stake days before business went into administrationView the full article

We may earn a commission from links on this page. I’m not a real cyclist, I say to myself as I buy a cheap, basic exercise bike. I’m not that into spinning, I say to myself as I replace that bike a year later (it wore out from constant use). I’m not dressed like a silly cyclist, I say as I strap into my cycling shoes. And I climb on the bike and proceed to ride for an hour in normal, unpadded shorts. Because I’m a dumbass. Look, sometimes I am at the forefront of smart and important hacks, like rinsing out my exercise gear in the shower or bringing back sweatbands. And sometimes it takes me forever to start following the advice that every single cyclist impresses onto beginners. And this one is: Just buy the padded shorts already. Why cyclists wear padded shortsThe padding isn’t actually the point, but it’s a nice bonus. A cycling chamois (pronounced “shammy”) is a pad that sits against your skin to prevent chafing. Originally these were thin leather made from sheep or deer skin, and you’d rub in a cream to soften it. Eventually cycling apparel companies figured out how to make a synthetic version, which wicks moisture and provides some extra padding as well. When you wear cycling shorts with a chamois, you’ll have a layer of wicking, friction-free material between your nether regions and the seat. You can shift positions on the saddle during the ride, and the padding will stay in the right place, because it’s attached to you, not the saddle. Padded saddles tend to aggravate pressure points because your sit bones sink in to the padding; chamois shorts don’t usually have that issue. I bought my first pair of cycling shorts on a whim, like, “let’s see how good they actually are.” I was never a person who had much trouble with saddle soreness, but I have to admit that long rides are much more comfortable in the chamois than when I was wearing unpadded leggings or bike shorts. The shorts prevent any kind of chafing, and the padding really does make the ride more comfortable. If you wince at the thought of a 60-minute or 90-minute endurance session on the bike, get the shorts already. And no, a padded seat is not the same thing. Padding on a bike seat can make pressure worse, but padding on shorts moves with you and stays in the right places. Try a pair and you'll see what I mean. How to buy your first pair of cycling shortsWhen you buy your cycling shorts, they’ll be sold as either “men’s” or “women’s” models. Women’s tend to have wider padding in the back, and men’s tend to have longer padding with a groove down the center to avoid pressure on the perineum (which can cause numbness). The next thing to pay attention to is what kind of shorts the chamois is sewn into. You can find regular Spandex-y bike shorts; “liners” that are sheer or mesh because they’re meant to be worn under regular shorts; and “bibs” which have overall-style straps to hold them up while you ride. Serious road cyclists usually wear bibs. Mountain bikers often prefer liners. If you don’t know what to get, the regular bike short style is a good all-purpose choice. Cycling shorts to consider:Basic shorts: women’s (NOOYME—I have a pair of these exact shorts), men’s (BALEAF) Inexpensive liners: women’s (Terry Mixie), men’s (Przewalski) Nice bibs, if you’re fancy: women’s, men’s (both Pearl Izumi Pro Bib) NOOYME Women's Bike Shorts for Cycling Underwear 4D Padded Women Cycling Shorts with Pockets (Black, Small) $32.99 at Amazon Get Deal Get Deal $32.99 at Amazon How to wear a cycling chamoisFirst of all: You do not wear these with underwear. Even if you wouldn't normally go commando in your workout attire, it’s mandatory here. Avoiding underwear seams and wedgies is half the reason you’re wearing cycling shorts. The second point follows from the first: Wash it every time you wear it. A thorough rinse in the shower is a good-enough way to keep your chamois fresh if you don’t have time to do a full load of laundry before your next ride. (Cycling shorts tend to dry quickly.) Cyclists recommend taking off the chamois as soon as you’re done with your ride, rather than sitting around in it any longer than you have to. Pack a change of shorts if you aren’t going home right away. If you still have chafing when you wear chamois shorts, that’s what chamois cream is for. It’s not for softening leather anymore; it’s more of a lubricant and ointment, sort of a BodyGlide/diaper cream combo. And, speaking of diapers: Yes, it will feel like you’re wearing one. If you’ve ever had the pleasure of wearing a gigantic maxi pad, it’s a lot like that. But the awkwardness ends as soon as you hop on your bike; then you just feel comfortable. View the full article

Broadcaster asks Florida court to dismiss the case on the basis of a lack of jurisdictionView the full article

Digg is shutting down—at least for now. Just two months after relaunching with an open beta, the once-influential social news site says it is pulling the plug while it reassesses its strategy. The announcement came from CEO Justin Mezzell in a message posted to the site’s homepage. The relaunch has been scrapped, he wrote, and the company has decided “to significantly downsize the Digg team.” As the company figures out its next move, Mezzell said, Digg founder Kevin Rose will return to Digg on a full-time basis starting in April. The shutdown marks another twist in the long, uneven history of a platform that once helped define the early social web. Twenty-two years ago—long before Reddit, YouTube, or Facebook were dominating people’s time online—Digg was one of the hottest sites on the internet, pioneering the concept of users upvoting and downvoting the stories they liked and loathed the most. Today, though, the site has become an afterthought for many users. Rose was responsible for building Digg, in its heyday of 2008, to an estimated value of $160 million. A 2010 redesign was so unpopular, however, that the audience migrated over to Reddit (which offered a similar upvote/downvote functionality). Rose sold the company in 2012 for just $500,000. Last year, however, he and Reddit co-founder Alexis Ohanian bought Digg back with plans to revive it. Backed by True Ventures (where Rose is a partner) and Ohanian’s Seven Seven Six, the revived Digg said it would offer a human-centered experience. That has proven to be easier said than done. Mezzell, in his note, said the site was quickly overwhelmed by bots and AI when it relaunched as spammers looked to boost their SEO rankings based on Digg’s authority, which remains high with Google. “Within hours, we got a taste of what we’d only heard rumors about,” he wrote. “The internet is now populated, in meaningful part, by sophisticated AI agents and automated accounts. We knew bots were part of the landscape, but we didn’t appreciate the scale, sophistication, or speed at which they’d find us.” Mezzell’s comments seem to align with the “dead internet” theory that has been floating online for years. At its core, that line of thinking argues that the human-created content that powered the web in the 1990s and 2000s has been replaced with artificially created content. (The argument got another boost earlier this year with the debut of Moltbook, a social media site designed for AI agents instead of humans.) At the same time, Digg said it underestimated the loyalty users had built up with competing sites. Luring them back after they had been gone so long proved challenging, especially as the bots dominated the site. Despite banning tens of thousands of accounts and putting up additional defenses, Digg was unable to stop the onslaught. Rather than letting human users be duped by the bots, the company decided to pull the plug for now. “When you can’t trust that the votes, the comments, and the engagement you’re seeing are real, you’ve lost the foundation a community platform is built on,” Mezzell wrote. While insisting that it wasn’t going away permanently, Digg also acknowledged that it doesn’t really know where it’s going next and did not give any estimate for when it might be back. Admitting it had not yet found the right product-market fit, Digg said its existing Digg podcast will continue and Rose will hopefully help them find a way to assemble a site that can fend off bots and AI agents and stay true to that human-centric mission discussed when he bought back the site. The problem is: no one seems quite sure how to do that. “A small but determined team is stepping up to rebuild with a completely reimagined angle of attack,” Mezzell wrote. “Positioning Digg as simply an alternative to incumbents wasn’t imaginative enough. That’s a race we were never going to win. What comes next needs to be genuinely different . . . Ultimately, the internet needs a place where we can trust the content and the people behind it. We’re going to figure out how to build it.” View the full article

We’re now one month into a partial U.S. government shutdown due to a Department of Homeland Security funding lapse. Yet, employees with the Transportation Security Administration (TSA) are still expected to show up for work. As of last Friday, many TSA employees missed their first full payday and instead received $0 paychecks. Due to financial concerns, many have been calling out sick or resigning to find alternative income sources. Staffing issues have led to longer lines and increased wait times at U.S. airport security checkpoints nationwide. Now the CEOs of major U.S. airlines are publicly calling on Washington to end the shutdown. In an open letter to Congress, the executives demanded that lawmakers “immediately come together to reach an agreement to fund the Department of Homeland Security.” The letter was signed by Robert Isom of American Airlines Group, Ed Bastian of Delta Air Lines, Scott Kirby of United Airlines, and Bob Jordan of Southwest Airlines, among others. Executives from UPS, FedEx, and the trade group Airlines for America (A4A)— where the letter was published on Sunday—also signed the letter. “It’s difficult, if not impossible, to put food on the table, put gas in the car and pay rent when you are not getting paid,” the letter reads. The senior executives further urged Congress to take action to ensure essential airline workers never go without pay again. Specifically, they want Congress to pass the Aviation Funding Solvency Act and the Aviation Funding Stability Act, which would ensure that air traffic controllers are paid regardless of the government’s funding status. The letter also urges Congress to come together to pass the Keep America Flying Act, which would extend the same protections to TSA workers. Travel demand is expected to increase in the coming months The letter notes that U.S. airports are likely to face heavier crowds this spring and summer. An increase in travelers is anticipated to occur during spring break and for events such as the FIFA World Cup 2026. According to Airlines for America, U.S. airports are expected to see 171 million passengers this spring, up 4% from 2025. The group projects that U.S. airlines will carry about 2.8 million passengers per day from March 1 through April 30. Airline stocks have faced a challenging start to 2026 U.S. airline stocks have had a rough start to the year. Most recently, shares have fallen significantly due to soaring jet fuel prices amid the war in Iran. The three major U.S. airline stocks have fallen significantly since the start of the year: Delta Air Lines (NYSE: DAL): Down more than 12% YTD. United Airlines (Nasdaq: UAL): Down more than 20% YTD. American Airlines (NYSE: AAL): Down more than 30% YTD. View the full article

In terms of financing commercial building construction, selecting the right loan is essential. Various options exist, each catering to different needs, from traditional bank loans that cover a significant portion of costs to SBA loans offering favorable terms. You might likewise consider hard money loans for quick access or private equity partnerships for thorough funding. Comprehending these options can greatly impact your project’s success, so let’s explore the top seven loans you should consider. Key Takeaways SBA 504 Loans offer up to 90% financing with low down payment and long repayment terms, ideal for owner-occupied properties. SBA 7(a) Loans provide flexible financing for various needs, with competitive rates and up to $5 million available for real estate projects. Traditional Bank Loans cover 70-90% of costs, requiring strong credit and documentation, with interest rates ranging from 4% to 11%. Hard Money Loans offer quick access to funds for urgent projects, though they come with higher interest rates of 10-15%. Construction-to-Permanent Loans streamline financing by combining construction and long-term mortgage processes, simplifying cash flow management. Traditional Bank Loans for Commercial Construction When you’re considering financing for a commercial building project, traditional bank loans are often a primary option worth exploring. These loans typically cover 70-90% of your project costs, meaning you’ll need a down payment of 10-30%, depending on the lender’s criteria. Most commercial construction loans come with terms ranging from 12 to 36 months for construction, with the potential for conversion to permanent financing once your project is complete. Interest rates can vary considerably, usually falling between 4% and 11%, influenced by market conditions and your qualifications as a borrower. Be prepared for origination fees of 1-3% of the loan amount, along with additional costs for inspections, which may run from $500 to $1,000 each, and appraisals that can cost between $2,000 and $10,000. Approval from commercial construction lenders often requires a strong credit score and substantial documentation to assess your financial stability and the project’s feasibility. SBA 504 Loans: High Leverage With Low Down Payment If you’re considering financing options for your commercial building project, SBA 504 Loans are worth exploring. With a down payment requirement of just 10%, these loans allow you to secure up to 90% of the financing needed, making them an attractive choice. Nevertheless, keep in mind that to qualify, you must occupy at least 51% of the property, and the financing structure typically involves both a SBA-backed loan. Down Payment Requirements SBA 504 Loans stand out due to their low down payment requirement of just 10%, making them an appealing option for businesses aiming to finance commercial building construction with minimal upfront costs. This financing structure allows you to secure up to 90% of your total project costs, greatly reducing the financial burden when you seek a loan for construction of commercial property. The low down payment lets you retain more working capital for operational needs, which is vital during building projects. This option is especially advantageous for owner-occupied properties, as it encourages investment in your business growth and reducing initial cash outlays. Financing Structure Overview Grasping the financing structure of SBA 504 Loans reveals how businesses can maximize their borrowing potential with minimal cash outlay. These loans require a down payment as low as 10%, allowing you to leverage up to 90% financing for your commercial construction projects. Typically, the financing structure includes a first mortgage from construction lenders covering 50% of the project costs, whereas the SBA 504 loan covers up to 40%. You’ll contribute the remaining 10% as equity. With long-term repayment terms of 10, 20, or 25 years and fixed interest rates, these loans can offer more favorable terms than traditional options. Additionally, the funds can be used for land acquisition, construction, renovations, and purchasing major equipment, enhancing your funding flexibility. Eligible Property Types When considering financing options for commercial properties, it is essential to recognize the types of buildings that qualify for SBA 504 Loans. These loans are particularly designed for owner-occupied commercial real estate, allowing you to secure long-term financing for property purchases, renovations, or expansions. Eligible properties include: Property Type Description Office Buildings Spaces primarily for administrative work Manufacturing Facilities Buildings used for production and assembly Retail Centers Locations for selling goods and services With a down payment as low as 10%, you can leverage up to 90% of the project’s total cost. The maximum loan amount can reach up to $5 million, making SBA 504 Loans an attractive option for significant commercial construction projects. SBA 7(a) Loans: Flexible Options for Various Needs SBA 7(a) loans offer flexible financing options for your commercial building needs, regardless of whether you’re purchasing, constructing, or renovating a property. With competitive interest rates and longer repayment terms, these loans help you manage cash flow effectively as well as providing up to 85% financing for smaller amounts. Plus, the streamlined application process means you might find it easier to qualify, even though your credit isn’t perfect. Loan Purpose Flexibility A key advantage of SBA 7(a) Loans is their loan purpose flexibility, which allows you to tailor financing to meet various business needs. This adaptability makes these loans suitable for multiple projects, offering you the opportunity to finance: Construction or renovation of commercial buildings Acquisition of existing properties or businesses Working capital for operational expenses Equipment purchases crucial for your operations With the ability to cover up to 90% of project costs and long repayment terms of up to 25 years, these loans make financing accessible for smaller businesses and startups. Even though the application process may take longer because of thorough documentation, the flexibility in loan purposes can greatly benefit your business’s growth and sustainability. Favorable Terms and Rates Favorable terms and rates make SBA 7(a) Loans an appealing option for those looking to finance commercial building construction. These loans offer flexible financing, with amounts up to $5 million and terms extending up to 25 years for real estate. You’ll appreciate the low down payment requirement of just 10%, allowing you to finance up to 90% of your project costs. SBA 7(a) Loans can be utilized for various purposes, including purchasing land, constructing new buildings, or renovating existing structures. Their interest rates are competitive, typically capped at 2.75% above the prime rate, making them an affordable choice. In the meantime, the application process may require more documentation than traditional loans, the benefits for qualifying small businesses are significant. Streamlined Application Process When considering financing options for commercial building construction, the application process for SBA 7(a) Loans stands out for its streamlined nature. This efficiency allows you to focus on your project rather than getting bogged down in paperwork. Here are some key aspects of the application process: Flexible Use of Funds: You can allocate loan proceeds for construction, renovation, or working capital. Low Down Payments: With down payments as low as 10%, you preserve cash flow for other needs. Substantial Loan Amounts: Loans can reach up to $5 million, catering to significant projects. Long Repayment Terms: Enjoy terms extending up to 25 years, making it easier to manage cash flow. SBA 7(a) Loans truly improve accessibility for small businesses looking to invest. Hard Money Loans: Quick Access With Higher Costs Hard money loans serve as a viable option for those needing quick access to capital for commercial building construction, particularly when traditional financing isn’t an option. These loans typically finance 65-80% of project costs and are secured by the property’s value. As they provide fast funding—often within weeks—they come with higher costs, including interest rates ranging from 10-15% or more. Here’s a quick overview of key aspects of hard money loans: Feature Details Financing Percentage 65-80% of project costs Interest Rates 10-15% or higher Loan Terms 6-24 months Qualification Requirements Fewer than traditional loans Although these loans are accessible for borrowers with less-than-perfect credit, the shorter terms and higher costs make them suitable primarily for short-term projects. Always weigh the pros and cons before proceeding. Private Equity Partnerships: Funding Through Ownership Stakes Private equity partnerships provide an alternative funding source for commercial building construction by allowing investors to contribute capital in exchange for ownership stakes in projects. These partnerships can cover up to 100% of project costs, making them appealing for developers lacking sufficient equity or cash reserves. When considering private equity partnerships, keep in mind the following points: Investors typically seek returns through profit-sharing or a predetermined exit strategy. A solid business plan and financial projections are vital to attract investments. The terms can vary considerably, some requiring longer commitments than conventional loans. Clear agreements and ongoing communication between partners are fundamental for success. Alternative Financing: Invoice Factoring and Merchant Cash Advances Alternative financing options, such as invoice factoring and merchant cash advances, can provide businesses with quick access to capital when traditional loans aren’t feasible. Invoice factoring allows you to sell unpaid invoices to a third party at a discount, giving you immediate cash flow and typically funding within 24 to 48 hours. This method helps manage cash flow gaps by converting accounts receivable into working capital without additional debt. On the other hand, merchant cash advances offer a lump sum of cash in exchange for a percentage of your future credit card sales. Although this option provides quick access to funds, it often comes with higher interest rates compared to traditional loans. Both options feature faster approval processes and more flexible qualification criteria, making them accessible even for businesses with less-than-perfect credit. Invoice factoring may be limited to outstanding invoices, whereas Square cash advances can offer larger sums based on projected sales. Construction-to-Permanent Loans: Streamlining Your Financing For businesses looking to finance commercial building projects, construction-to-permanent loans offer a streamlined solution by merging the construction and long-term mortgage processes into a single loan. This approach minimizes the hassle of securing multiple loans and simplifies the shift from construction to permanent financing. Key features of construction-to-permanent loans include: Flexible construction periods of 12 to 36 months, followed by permanent financing lasting up to 25 years. Variable interest rates during construction, converting to fixed rates post-completion. Down payment requirements typically ranging from 20-30% of the total project cost, with lenders covering 70-90% of construction expenses. Simplified cash flow management, allowing interest payments only on drawn funds during construction. Frequently Asked Questions What Kind of Loan Do You Need for a Commercial Building? To finance a commercial building, you’ll typically need a commercial construction loan. These loans are short-term, lasting 12 to 36 months, and cover 70-90% of project costs, requiring a down payment of 10-30%. You can choose from various options, like SBA 504 loans, which require a 10% down payment, or hard money loans, covering 65-80%. Interest rates usually range from 4% to 15%, depending on market conditions and lender terms. What Are the 5 C’s of Commercial Lending? The 5 C’s of commercial lending are crucial for comprehending your creditworthiness. First, there’s Character, which evaluates your reputation and credit history. Next, Capacity measures your ability to repay the loan based on income and cash flow. Capital refers to your investment, usually requiring a down payment of 10-30%. Collateral involves the assets you pledge against the loan, typically the property. Finally, Conditions consider the loan terms and market environment affecting repayment. What Is the Best Bank for Commercial Construction Loans? When searching for the best bank for commercial construction loans, consider your project’s specific needs. Bank OZK is a strong contender, focusing heavily on construction financing. Goldman Sachs offers substantial resources, particularly for large projects. Wells Fargo provides various financing options, including construction-to-permanent loans. UMB Bank is known for competitive terms, catering to diverse projects. Finally, Starwood Property Trust specializes in significant loans, typically over $40 million, for large-scale developments. What Is the Best Type of Construction Loan? The best type of construction loan for your project is commonly a commercial construction loan. These short-term loans, lasting 12 to 36 months, typically cover 70-90% of total costs. You’ll need a down payment, often ranging from 10% to 40%. Payments are interest-only during construction, based on drawn funds. Interest rates vary, commonly between 4% and 15%, and some loans allow conversion to permanent financing once your project is complete. Conclusion In summary, when financing commercial building construction, you have several viable options to evaluate. Traditional bank loans and SBA loans provide structured financing, whereas hard money loans offer quick access if needed. Private equity partnerships can cover full costs, and construction-to-permanent loans simplify the process. Furthermore, alternative financing methods like invoice factoring and merchant cash advances can provide rapid funding. Assess these options carefully to determine which best aligns with your project’s needs and financial goals. Image via Google Gemini This article, "Top 7 Loans for Commercial Building Construction to Consider" was first published on Small Business Trends View the full article

In terms of financing commercial building construction, selecting the right loan is essential. Various options exist, each catering to different needs, from traditional bank loans that cover a significant portion of costs to SBA loans offering favorable terms. You might likewise consider hard money loans for quick access or private equity partnerships for thorough funding. Comprehending these options can greatly impact your project’s success, so let’s explore the top seven loans you should consider. Key Takeaways SBA 504 Loans offer up to 90% financing with low down payment and long repayment terms, ideal for owner-occupied properties. SBA 7(a) Loans provide flexible financing for various needs, with competitive rates and up to $5 million available for real estate projects. Traditional Bank Loans cover 70-90% of costs, requiring strong credit and documentation, with interest rates ranging from 4% to 11%. Hard Money Loans offer quick access to funds for urgent projects, though they come with higher interest rates of 10-15%. Construction-to-Permanent Loans streamline financing by combining construction and long-term mortgage processes, simplifying cash flow management. Traditional Bank Loans for Commercial Construction When you’re considering financing for a commercial building project, traditional bank loans are often a primary option worth exploring. These loans typically cover 70-90% of your project costs, meaning you’ll need a down payment of 10-30%, depending on the lender’s criteria. Most commercial construction loans come with terms ranging from 12 to 36 months for construction, with the potential for conversion to permanent financing once your project is complete. Interest rates can vary considerably, usually falling between 4% and 11%, influenced by market conditions and your qualifications as a borrower. Be prepared for origination fees of 1-3% of the loan amount, along with additional costs for inspections, which may run from $500 to $1,000 each, and appraisals that can cost between $2,000 and $10,000. Approval from commercial construction lenders often requires a strong credit score and substantial documentation to assess your financial stability and the project’s feasibility. SBA 504 Loans: High Leverage With Low Down Payment If you’re considering financing options for your commercial building project, SBA 504 Loans are worth exploring. With a down payment requirement of just 10%, these loans allow you to secure up to 90% of the financing needed, making them an attractive choice. Nevertheless, keep in mind that to qualify, you must occupy at least 51% of the property, and the financing structure typically involves both a SBA-backed loan. Down Payment Requirements SBA 504 Loans stand out due to their low down payment requirement of just 10%, making them an appealing option for businesses aiming to finance commercial building construction with minimal upfront costs. This financing structure allows you to secure up to 90% of your total project costs, greatly reducing the financial burden when you seek a loan for construction of commercial property. The low down payment lets you retain more working capital for operational needs, which is vital during building projects. This option is especially advantageous for owner-occupied properties, as it encourages investment in your business growth and reducing initial cash outlays. Financing Structure Overview Grasping the financing structure of SBA 504 Loans reveals how businesses can maximize their borrowing potential with minimal cash outlay. These loans require a down payment as low as 10%, allowing you to leverage up to 90% financing for your commercial construction projects. Typically, the financing structure includes a first mortgage from construction lenders covering 50% of the project costs, whereas the SBA 504 loan covers up to 40%. You’ll contribute the remaining 10% as equity. With long-term repayment terms of 10, 20, or 25 years and fixed interest rates, these loans can offer more favorable terms than traditional options. Additionally, the funds can be used for land acquisition, construction, renovations, and purchasing major equipment, enhancing your funding flexibility. Eligible Property Types When considering financing options for commercial properties, it is essential to recognize the types of buildings that qualify for SBA 504 Loans. These loans are particularly designed for owner-occupied commercial real estate, allowing you to secure long-term financing for property purchases, renovations, or expansions. Eligible properties include: Property Type Description Office Buildings Spaces primarily for administrative work Manufacturing Facilities Buildings used for production and assembly Retail Centers Locations for selling goods and services With a down payment as low as 10%, you can leverage up to 90% of the project’s total cost. The maximum loan amount can reach up to $5 million, making SBA 504 Loans an attractive option for significant commercial construction projects. SBA 7(a) Loans: Flexible Options for Various Needs SBA 7(a) loans offer flexible financing options for your commercial building needs, regardless of whether you’re purchasing, constructing, or renovating a property. With competitive interest rates and longer repayment terms, these loans help you manage cash flow effectively as well as providing up to 85% financing for smaller amounts. Plus, the streamlined application process means you might find it easier to qualify, even though your credit isn’t perfect. Loan Purpose Flexibility A key advantage of SBA 7(a) Loans is their loan purpose flexibility, which allows you to tailor financing to meet various business needs. This adaptability makes these loans suitable for multiple projects, offering you the opportunity to finance: Construction or renovation of commercial buildings Acquisition of existing properties or businesses Working capital for operational expenses Equipment purchases crucial for your operations With the ability to cover up to 90% of project costs and long repayment terms of up to 25 years, these loans make financing accessible for smaller businesses and startups. Even though the application process may take longer because of thorough documentation, the flexibility in loan purposes can greatly benefit your business’s growth and sustainability. Favorable Terms and Rates Favorable terms and rates make SBA 7(a) Loans an appealing option for those looking to finance commercial building construction. These loans offer flexible financing, with amounts up to $5 million and terms extending up to 25 years for real estate. You’ll appreciate the low down payment requirement of just 10%, allowing you to finance up to 90% of your project costs. SBA 7(a) Loans can be utilized for various purposes, including purchasing land, constructing new buildings, or renovating existing structures. Their interest rates are competitive, typically capped at 2.75% above the prime rate, making them an affordable choice. In the meantime, the application process may require more documentation than traditional loans, the benefits for qualifying small businesses are significant. Streamlined Application Process When considering financing options for commercial building construction, the application process for SBA 7(a) Loans stands out for its streamlined nature. This efficiency allows you to focus on your project rather than getting bogged down in paperwork. Here are some key aspects of the application process: Flexible Use of Funds: You can allocate loan proceeds for construction, renovation, or working capital. Low Down Payments: With down payments as low as 10%, you preserve cash flow for other needs. Substantial Loan Amounts: Loans can reach up to $5 million, catering to significant projects. Long Repayment Terms: Enjoy terms extending up to 25 years, making it easier to manage cash flow. SBA 7(a) Loans truly improve accessibility for small businesses looking to invest. Hard Money Loans: Quick Access With Higher Costs Hard money loans serve as a viable option for those needing quick access to capital for commercial building construction, particularly when traditional financing isn’t an option. These loans typically finance 65-80% of project costs and are secured by the property’s value. As they provide fast funding—often within weeks—they come with higher costs, including interest rates ranging from 10-15% or more. Here’s a quick overview of key aspects of hard money loans: Feature Details Financing Percentage 65-80% of project costs Interest Rates 10-15% or higher Loan Terms 6-24 months Qualification Requirements Fewer than traditional loans Although these loans are accessible for borrowers with less-than-perfect credit, the shorter terms and higher costs make them suitable primarily for short-term projects. Always weigh the pros and cons before proceeding. Private Equity Partnerships: Funding Through Ownership Stakes Private equity partnerships provide an alternative funding source for commercial building construction by allowing investors to contribute capital in exchange for ownership stakes in projects. These partnerships can cover up to 100% of project costs, making them appealing for developers lacking sufficient equity or cash reserves. When considering private equity partnerships, keep in mind the following points: Investors typically seek returns through profit-sharing or a predetermined exit strategy. A solid business plan and financial projections are vital to attract investments. The terms can vary considerably, some requiring longer commitments than conventional loans. Clear agreements and ongoing communication between partners are fundamental for success. Alternative Financing: Invoice Factoring and Merchant Cash Advances Alternative financing options, such as invoice factoring and merchant cash advances, can provide businesses with quick access to capital when traditional loans aren’t feasible. Invoice factoring allows you to sell unpaid invoices to a third party at a discount, giving you immediate cash flow and typically funding within 24 to 48 hours. This method helps manage cash flow gaps by converting accounts receivable into working capital without additional debt. On the other hand, merchant cash advances offer a lump sum of cash in exchange for a percentage of your future credit card sales. Although this option provides quick access to funds, it often comes with higher interest rates compared to traditional loans. Both options feature faster approval processes and more flexible qualification criteria, making them accessible even for businesses with less-than-perfect credit. Invoice factoring may be limited to outstanding invoices, whereas Square cash advances can offer larger sums based on projected sales. Construction-to-Permanent Loans: Streamlining Your Financing For businesses looking to finance commercial building projects, construction-to-permanent loans offer a streamlined solution by merging the construction and long-term mortgage processes into a single loan. This approach minimizes the hassle of securing multiple loans and simplifies the shift from construction to permanent financing. Key features of construction-to-permanent loans include: Flexible construction periods of 12 to 36 months, followed by permanent financing lasting up to 25 years. Variable interest rates during construction, converting to fixed rates post-completion. Down payment requirements typically ranging from 20-30% of the total project cost, with lenders covering 70-90% of construction expenses. Simplified cash flow management, allowing interest payments only on drawn funds during construction. Frequently Asked Questions What Kind of Loan Do You Need for a Commercial Building? To finance a commercial building, you’ll typically need a commercial construction loan. These loans are short-term, lasting 12 to 36 months, and cover 70-90% of project costs, requiring a down payment of 10-30%. You can choose from various options, like SBA 504 loans, which require a 10% down payment, or hard money loans, covering 65-80%. Interest rates usually range from 4% to 15%, depending on market conditions and lender terms. What Are the 5 C’s of Commercial Lending? The 5 C’s of commercial lending are crucial for comprehending your creditworthiness. First, there’s Character, which evaluates your reputation and credit history. Next, Capacity measures your ability to repay the loan based on income and cash flow. Capital refers to your investment, usually requiring a down payment of 10-30%. Collateral involves the assets you pledge against the loan, typically the property. Finally, Conditions consider the loan terms and market environment affecting repayment. What Is the Best Bank for Commercial Construction Loans? When searching for the best bank for commercial construction loans, consider your project’s specific needs. Bank OZK is a strong contender, focusing heavily on construction financing. Goldman Sachs offers substantial resources, particularly for large projects. Wells Fargo provides various financing options, including construction-to-permanent loans. UMB Bank is known for competitive terms, catering to diverse projects. Finally, Starwood Property Trust specializes in significant loans, typically over $40 million, for large-scale developments. What Is the Best Type of Construction Loan? The best type of construction loan for your project is commonly a commercial construction loan. These short-term loans, lasting 12 to 36 months, typically cover 70-90% of total costs. You’ll need a down payment, often ranging from 10% to 40%. Payments are interest-only during construction, based on drawn funds. Interest rates vary, commonly between 4% and 15%, and some loans allow conversion to permanent financing once your project is complete. Conclusion In summary, when financing commercial building construction, you have several viable options to evaluate. Traditional bank loans and SBA loans provide structured financing, whereas hard money loans offer quick access if needed. Private equity partnerships can cover full costs, and construction-to-permanent loans simplify the process. Furthermore, alternative financing methods like invoice factoring and merchant cash advances can provide rapid funding. Assess these options carefully to determine which best aligns with your project’s needs and financial goals. Image via Google Gemini This article, "Top 7 Loans for Commercial Building Construction to Consider" was first published on Small Business Trends View the full article

When Apple takes the virtual stage in June for WWDC 2026, avid fans might expect the company to announce a number of new features for updates like iOS 27, iPadOS 27, and macOS 27. And while these updates will almost assuredly sport some key features and changes from the "OS 26" era, the best new feature might not be a feature at all. In fact, it might be the exact opposite. In his Power On newsletter on Sunday, Bloomberg's Mark Gurman ran through some of Apple's thought processes with its upcoming updates, per Gurman's sources. It seems that following the company's big delays and stumbles in rolling out big AI features, and its Liquid Glass design overhaul, the company is in a position to focus more on iterative updates rather than sweeping changes. As such, Gurman expects "years of gradual improvements," starting with iOS 27, which he has said since November will be a "Snow Leopard-like" release. For those out of the loop, Mac OS X Snow Leopard is a famous OS update in Apple world. Apple announced Snow Leopard as having zero new features, as the update was intensely focused on delivering bug fixes and stability updates to Mac OS (now macOS). Snow Leopard didn't actually ship with zero new features—there was a new QuickTime player and a fresh version of Safari—but the emphasis was really on shipping a new OS for the Mac that felt the same as before, but just worked better. If that's the philosophy Apple wants to carry onto iOS 27, I'm all for it. iOS 26 hasn't been too buggy in my experience, but I keep encountering other users who swear the update has negatively impacted their iPhones. The one complaint I keep hearing is about the keyboard, which users allege is buggy beyond belief. While there are general steps you can take to make the iOS keyboard work better for you, any software bugs affected it will require Apple's intervention—not the end user. I would also like Apple to extend those plans to its other big updates this year, as well. The first couple of versions of macOS 26 (Tahoe) received an even poorer reception online than iOS 26, from what I've seen. The negative reviews kept me from updating my M1 iMac until macOS 26.3, which beta testers found to be less buggy than previous versions. Indeed, my M1 Mac can handle macOS 26.3, but it's still a bit laggy at times. While you could chalk that up to the five-year-old chip, I'd bet Apple could optimize its OSes across the board to make the experience a bit smoother for any devices that will be compatible with any of the OS 27 updates. If Apple can make macOS Tahoe run smooth on the MacBook Neo, running a binned, two-year-old iPhone chip, I imagine my iMac could run macOS 27 with some grace. iOS 27 will have actual new features, tooLike Snow Leopard, Apple won't actually have zero new features to ship with iOS 27. The biggest feature of all will be rolling out its new "AI Siri," which despite being announced in 2024 for iOS 18, has encountered delay after delay. But Gurman says the other big iOS 27 "feature" will be support for Apple's upcoming foldable iPhone, introducing things like split-screen apps for the first time on iOS. It'd be great if Apple extended this support to standard iPhones as well (especially the Max), but Gurman seems to think this will remain a foldable perk only. Remember, this year marks Apple's 50th anniversary, and the company likely has some big plans in store. But I think the best thing the company could do to celebrate is make sure that all of its devices are running optimized versions of their respective OSes. Happy Birthday, Apple! View the full article

A few meters below the former site of Seville’s 1992 World Expo, a promising climate experiment blending ancient technology and modern science is underway. Rows of black pipes run along the ceiling and down the bare concrete walls. These, in turn, connect to bright blue and green tubes and enormous silver pumps. In a control room to the side, an array of monitors display the heat, humidity and wind speed above. “We have deployed several types of cooling systems here, each one used depending on climatic conditions,” says Maria de la Paz Montero Gutiérrez, a researcher at the University of Seville, from down in the building’s bowels where she is helping supervise the project. In 2020, authorities began to install these cooling systems in two public spaces in the Isla de La Cartuja neighborhood of what is one of Europe’s hottest cities. Every day about 30,000 people come to work and study in this northwestern district, which is mostly non-residential and home to university campuses, museums, and businesses. Under the EU-funded project CartujaQanat, the so-called “qanats”—networks of underground aqueducts—were constructed in a newly-built 750-square meter site known as the Agora, which is large enough to fit about 400 people, as well as in a renovated amphitheater from the ‘90s that has a capacity of about 200 people. The system, created millennia ago but updated for the 21st century, works by cooling water underground in the naturally low temperatures at night. To cool water more quickly, some is also sent to the roof via solar-powered pumps and sprayed out of nozzles in a thin layer through a method known as a “falling film,” before draining back down underground. By day, as outdoor temperatures peak, the cool water is sent above ground into the ceiling to counteract the heat. Water is also funneled into subterranean pipes that cool air (up to 36,000 square meters an hour), which is then released via ducts in the public spaces. Outside, mist is sprayed in order to lower temperatures through evaporation. “We have half re-invented the qanats, taking from their engineering ingenuity,” says head of the multi-stakeholder project, Lucas Perea Gil, whose team began operating the cooling system in 2022, running seasonally from March to October every year. The original qanats, according to Nilou Vakil, an associate professor of architecture at the University of Kansas, date back 3,000 years to ancient Persia, or modern day Iran. The same system has been used in many regions across the Islamic world, from Balochistan to Jordan. Historically, she says, they were used in arid areas to transport water from underground sources to irrigate crops and feed animals, but also for cooling homes. “That’s how they were able to create civilization in places you couldn’t have humans living in before,” explains Vakil, who has researched the history of the qanats. “They allowed people to live with heat before the arrival of electricity.” The project also represents something of a revival of past local practices. Similar water management technologies were deployed by the Moors across Andalusia, including at Granada’s Alhambra, several hundred years ago. Seville’s low-emission solution is an encouraging response to the rising threat of extreme urban heat in Spain’s fourth largest city, home to 1.5 million people. Last year, Seville broke a record after recording 30 days above 40C (104F)—compared with an average of 12.8 days a year over the previous decade. The city gets so hot these days it’s earned the unenviable nickname of the “Frying Pan of Spain.” And scientists project that due to manmade climate change, by 2050, Seville is likely to hit summer peaks of 50C (122F) while suffering an average 20% decline in rainfall. That extreme heat, an increasing reality for cities around the world, is already causing serious harm to the population. The Carlos III Health Institute estimated that about 1,180 people died because of high temperatures during a heatwave in Spain between May and July last year. Meanwhile, researchers have calculated that more than 11,000 people died due to extreme heat in Spain during summer 2022. “It’s a really serious health issue,” says Anna Beswick, a policy fellow at the London School of Economics working on climate adaptation and resilience. “Global average temperatures are rising, and so are extreme temperatures. Cities have specific vulnerabilities since they hold and retain heat more than other areas.” City authorities are urgently trying to find solutions to beat the heat, especially ones that aren’t energy intensive like air-con, which can be costly and counterintuitive for climate goals. In Los Angeles, for example, the use of heat-reflective white paint on the streets has been effective in cutting temperatures. In Rotterdam, green roofs are helping to mitigate the urban heat island effect and to keep air clean. Others such as Freetown, Sierra Leone’s capital city, have gone as far as to hire Chief Heat Officers. “There’s a lack of visibility over heat, it’s a silent killer, which is why governance on this is so important,” says Beswick, who last year published a report about low-cost, low-carbon cooling systems. Seville has historically adapted to heat through its narrow streets and shaded courtyards and more recently by becoming the first city in the world to name and categorize heatwaves. Now, it’s showing impressive impact with the updated qanats—as well as other cooling techniques that are part of the project, including deploying heat-reflective paint, wind and sun blockers, and vegetation on interior walls. Research by the University of Seville, shared with Next City, found the project led to indoor temperatures being as much as 12 degrees Celsius lower than outdoors in the summer of 2025. At the same time, the project, which received 80% of its €5 million budget from the European Union’s Urban Innovative Actions office, requires zero energy. During the summer of 2025, CartujaQanat’s 380-square-meter rooftop solar panels produced 55,000 kWh, while running the machinery such as pumps consumed 42,000 kWh. “It demonstrates that ancient tech can hold a very important point in our current environment,” says Vakil. “Cooling is one of the biggest issues that we are going to face in the future. Seville’s project serves as a scalable prototype.” They’ve already learned important lessons for future iterations, such as the fact that they only needed three of the nine water pumps they purchased. “We thought we needed more,” says Gil. “But we didn’t. We learned from that. So, in the future, this model can be cheaper.” CartujaQanat’s success has led to delegations from California, Germany and Dubai, among others, to visit the site to draw inspiration and take notes. But it won’t work in all cities. As Vakil points out, the qanat system is unlikely to be effective in humid climates since it relies on evaporation. The project is also helping to revitalize the Isla de la Cartuja neighborhood, which despite its proximity to the city center, is a largely underused area. Local workers come to relax in the Agora during lunch breaks, teenagers use it to skateboard, and there are regular classes for all kinds of dance: hip hop, flamenco, swing and tango. According to Gil, the reclaiming of space for the public is a significant motivation, particularly as extreme heat could force people to hide in their homes—at the loss of socializing. It also shows how cities can re-develop large and unused public spaces. “We wanted to create a comfortable space that people don’t have to pay for,” he says. Charo Sollero, who since last year has been running tango classes for groups of up to 60 people, is one of the beneficiaries. “It’s an open space that’s not too hot, it’s perfect for us,” she says. “We get together to eat and drink and then dance for hours and hours.” While the floor is not made of wood, the material traditionally used for tango dancing, the space is a much cooler option than the hotel they previously met up. “It’s clear the temperatures are getting hotter in Seville every year,” adds Sollero. And the city is wasting no time in rolling out this low-emission cooling model to other locations. Next year it will inaugurate the systems at a bus stop, square and school in the city’s Macarena neighborhood. In time, it will expand further. “We believe that they can help us live with the heat that is coming,” says Gil. This story was originally published by Next City, a nonprofit news outlet covering solutions for equitable cities. 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Grasping the franchise and franchisee relationship is vital for success in this business model. This relationship is guided by a franchise agreement, which details the rights and responsibilities of both parties. Although franchisees have the independence to operate their businesses, they must likewise adhere to the standards set by the franchisor. Effective communication and support play significant roles in this partnership, but challenges can arise. Exploring these dynamics can reveal effective strategies for maneuvering the intricacies of franchising. Key Takeaways Franchising involves a franchisee operating under a franchisor’s established brand, following a defined franchise agreement outlining mutual rights and responsibilities. Franchisees maintain operational independence while adhering to franchisor guidelines, balancing autonomy with brand consistency and compliance. Effective communication between franchisors and franchisees fosters trust, minimizes misunderstandings, and enhances collaboration for business success. The franchise growth and maturity phases require ongoing support from franchisors, with accountability measures ensuring performance alignment between both parties. Common challenges include communication gaps and misaligned expectations, necessitating regular reviews and clear objectives to maintain a healthy franchise relationship. The Definition of Franchising Franchising serves as a strong business model that allows you to operate under an established brand as well as leveraging the systems and support provided by the franchisor. In this legal agreement, the franchisee gains the right to run a business using the franchisor’s trademark, operating systems, and overall business format. The franchise agreement clearly outlines the rights and obligations of both the franchisor and franchisee, establishing the foundation of their relationship. A key difference between franchisor and franchisee is that the franchisor owns the brand and provides training, marketing, and ongoing support, whereas the franchisee independently operates the unit. This structure not only benefits franchisees seeking business opportunities but additionally helps franchisors expand their brand presence effectively. The Importance of Clear Communication Effective communication is fundamental for the success of any franchise relationship, as it helps build trust and minimizes misconceptions between franchisors and franchisees. The franchisee vs franchisor dynamic thrives on clear communication, which reduces confusion and nurtures a strong partnership. Establishing regular communication channels, like meetings and newsletters, guarantees both parties receive consistent updates and feedback. Maintaining a reliable flow of information is important for addressing challenges swiftly. Providing contact information for key personnel and a dedicated hotline improves accessibility in the franchisor-franchisee relationship. Encouraging transparency in sharing information keeps franchisees informed, promoting collaboration and innovation. Comprehending the franchisee and franchisor difference is critical, as it emphasizes the importance of open dialogue for mutual success. The Role of the Franchisor In the franchise model, the franchisor plays a vital role by providing the brand and business model that you, as a franchisee, rely on for your operations. They also offer fundamental training and ongoing support to guarantee you understand the operational guidelines and can effectively run your business. Furthermore, franchisors manage marketing efforts and enforce compliance standards, making certain that all franchise locations maintain the same quality and brand integrity. Brand and Business Model Although many entrepreneurs seek independence in business ownership, partnering with a franchisor can provide a structured pathway to success through a well-established brand and a proven business model. The franchisor offers franchisees the right to use their trademarks, enhancing brand recognition and building customer trust. Comprehending the difference between franchisee and franchisor is essential, as the latter sets operational guidelines and standards, ensuring consistency across locations. This franchise and franchisee relationship is formalized through a franchise agreement, which outlines roles and responsibilities. In addition, effective marketing efforts led by the franchisor help drive customer traffic to franchisee locations. Training and Support Provided When you become a franchisee, the training and support provided by the franchisor play a vital role in your business’s success. Franchisors typically offer thorough training programs that cover operational procedures, customer service standards, and marketing strategies, ensuring consistency across the brand. Ongoing support includes regular updates on best practices, new products, and technology improvements, helping you stay competitive. Moreover, franchisors often create advisory councils with franchisees to facilitate communication and gather feedback, making your input valuable in decision-making. They may assist with site selection, lease negotiations, and local marketing initiatives to help you launch and grow your business. Comprehending the difference between franchise and franchisee is important, as it defines your role and the support you receive. Marketing and Compliance Standards Marketing and compliance standards, established by the franchisor, play an important role in maintaining a consistent brand identity across all franchise locations. These standards guarantee that every franchisee presents the brand uniformly, which is vital for customer recognition and loyalty. The franchisor manages overall marketing and advertising efforts, providing franchisees with promotional materials and strategies designed to boost customer engagement and sales. Adhering to these marketing standards is mandatory; failure to comply could lead to penalties or jeopardize your franchise agreement. Regular updates and support from the franchisor help you stay aligned with compliance expectations. Moreover, you can collaborate with the franchisor to customize local marketing initiatives as you adhere to the established framework, balancing local outreach with brand consistency. The Role of the Franchisee Franchisees play a crucial role in the success of a franchise operation by managing their units in alignment with the franchisor’s established guidelines. As a franchisee, you’re not just an operator; you’re a key player in maintaining brand integrity. Here are some of your core responsibilities: Adhere to Standards: You follow the franchisor’s operational guidelines to guarantee consistency and quality. Financial Investment: You invest your capital, taking on the financial risk associated with your franchise’s success or failure. Training Participation: You engage in training programs to acquire necessary skills for effective management. Day-to-Day Control: You make daily decisions, like hiring staff and setting prices, during still aligning with the franchisor’s strategies. Your role is crucial for the franchise’s overall performance and reputation. Understanding Franchise Agreements Grasping the intricacies of a franchise agreement is fundamental for anyone entering the franchise business, as this legal document defines the relationship between you and the franchisor. It outlines your rights and obligations, ensuring clarity. Key components often include the franchise duration, fees, territorial rights, and operational guidelines. You’ll need to adhere to specific standards set by the franchisor to maintain brand consistency. Before signing, the Franchise Disclosure Document (FDD) must be provided, detailing critical information about the opportunity. Furthermore, the agreement may include renewal options, termination clauses, and conditions for transferring ownership. Comprehending these elements is crucial, as they can greatly impact your investment and future success as a franchisee. Phases of the Franchise Relationship In the franchise relationship, you’ll encounter four key phases: Recruitment, Growth, Maturity, and The End or a New Beginning. Each phase presents unique dynamics and expectations, starting with trust-building during Recruitment and moving through the extensive support needed in Growth. As you progress to Maturity, both parties aim for stability and mutual comprehension, setting the stage for potential reassessment in the final phase. Recruitment Phase Overview The recruitment phase is crucial in establishing a successful franchise relationship, as it sets the groundwork for future collaboration between franchisors and prospective franchisees. This phase begins with identifying suitable franchisees and establishing clear expectations. To guarantee a strong foundation, consider these key elements: Mutual Interest: Build trust through ongoing communication and shared goals. Franchise Disclosure Document (FDD): Provide prospective franchisees with important details about the opportunity. Effective Communication: Keep lines open to nurture a positive relationship and shared vision. Alignment with Brand Values: Confirm that franchisees resonate with the franchise’s mission and culture. A successful recruitment phase greatly impacts the franchise system’s overall performance and future success. Growth and Maturity Stages As franchisees shift from the recruitment phase into the Growth stage, they encounter a significant period that shapes the trajectory of their business. This phase kicks off after signing the franchise agreement and typically lasts three years. During this time, you’ll need substantial support and training from your franchisor. Regular communication and thorough training programs are crucial for nurturing a strong relationship and ensuring your satisfaction. As you move into the Maturity phase, expect a more predictable relationship where ongoing training and marketing support become indispensable. Nevertheless, be cautious; disenchantment may arise if you feel the support diminishes, potentially affecting your decision to renew contracts. Effective communication and mutual comprehension are key to maintaining trust and collaboration throughout both phases. Mutual Goals and Objectives Mutual goals and objectives form the backbone of a successful franchise relationship, driving both franchisors and franchisees toward shared outcomes. By aligning interests, both parties can improve overall success. Here are some key mutual goals: Brand Growth: Both franchisors and franchisees aim to expand brand visibility and market share. Increased Profitability: Focusing on strategies that boost profits benefits everyone involved. Customer Satisfaction: Happy customers lead to repeat business and positive brand reputation. Operational Efficiency: Regular communication and adherence to performance metrics streamline operations. Franchise agreements typically outline expectations and objectives, promoting accountability. When both parties actively pursue common objectives, they often see improved performance metrics, including higher sales and customer retention rates, boosting the franchise system’s success. Independence vs. Support As franchisees operate as independent business owners, they must navigate the delicate balance between exercising their autonomy and adhering to the support provided by franchisors. You make key decisions on hiring, employee scheduling, and pricing during the process of following the operational guidelines set by your franchisor. The franchise agreement specifies the level of independence you have alongside the support offered, which typically includes training, marketing assistance, and operational standards. Although franchisors provide valuable resources to improve your performance, they don’t manage your day-to-day operations, allowing you to maintain control. Striking the right balance between independence and support is essential, as effective franchisor guidance can greatly impact your satisfaction and overall success in running your franchise. Common Challenges in Franchise Relationships In franchise relationships, communication gaps often lead to misunderstandings, which can greatly impact franchisee satisfaction. When support from franchisors falls short of expectations, franchisees may feel isolated and discontented. Furthermore, misaligned expectations regarding operational autonomy can create tension, making it essential for both parties to establish clear communication and support systems. Communication Gaps in Franchising How can communication gaps impact the franchisor-franchisee relationship? These gaps often arise from a lack of regular updates and inconsistent messaging, leading to misconceptions. When franchisees feel isolated because of insufficient feedback channels, their satisfaction and performance can suffer. To mitigate these issues, consider the following strategies: Establish regular check-ins to discuss concerns and updates. Share information transparently to build trust and rapport. Foster a collaborative environment by reviewing communication methods regularly. Practice empathy and mutual comprehension during negotiations to bridge gaps. Support Limitations From Franchisors Whereas franchisees often expect robust support from their franchisors, the reality is that this support can be limited by the terms of the franchise agreement. Franchisors typically provide advisory support rather than direct managerial oversight, leaving you responsible for your business outcomes. The franchise agreement clearly outlines the limits of support, as franchisors can’t risk their assets on franchisee failures. During critical growth phases, you might feel isolated and dissatisfied if you perceive a decline in support. Although training and resources are expected, their effectiveness can vary considerably among franchise systems. Misaligned Expectations Between Parties Misaligned expectations between franchisees and franchisors can create significant challenges that undermine the success of the franchise relationship. To navigate these intricacies, it’s crucial to recognize common pitfalls: Underestimating Support Needs: Franchisees often expect more hands-on help during the initial growth phase than franchisors typically provide. Role Confusion: Franchisees may assume franchisors will manage operations thoroughly, whereas franchisors usually offer only advisory support. Ambiguities in Agreements: A lack of clarity in franchise agreements can lead to misunderstandings about responsibilities and performance metrics. Communication Gaps: Breakdown in communication can prevent franchisees from grasping the franchisor’s vision and strategic goals. Regularly reviewing and adjusting mutual goals can help mitigate these challenges and encourage a healthier franchise relationship. Building Trust and Collaboration Building trust and collaboration between franchisors and franchisees is crucial for a successful franchise relationship, as these elements create a foundation for achieving shared goals. Trust develops through consistent communication and regular check-ins, allowing both parties to work together effectively. By cultivating a collaborative environment, franchisors and franchisees can improve performance during addressing challenges that arise. Transparency in operations and decision-making processes further strengthens this trust, making franchisees feel valued and involved in the brand’s direction. Mutual comprehension is fundamental, as recognizing each other’s perspectives helps resolve conflicts and build stronger connections. Moreover, effective training and support from franchisors equip franchisees with the tools and knowledge they need to succeed, promoting a more collaborative partnership overall. Strategies for Success in Franchising Successful franchising relies on effective strategies that improve the relationship between franchisors and franchisees. Here are some key approaches to guarantee success: Establish Clear Communication: Maintain open channels for updates and feedback to build trust and collaboration. Implement Extensive Training: Provide thorough training programs during the initial growth phase to help franchisees understand operational guidelines. Utilize Digital Signage: Boost brand visibility and engagement with digital signage for real-time updates and promotions, aiding franchisees in consistency. Set SMART Goals: Create specific, measurable, achievable, relevant, and time-bound goals for both parties to guarantee alignment and accountability. Frequently Asked Questions What Is the Relationship Between a Franchiser and a Franchisee? The relationship between a franchisor and a franchisee is defined by a contractual agreement. You, as a franchisee, gain the right to operate a business using the franchisor’s trademarks and business model. As you manage daily operations independently, you must adhere to the franchisor’s established guidelines for quality and service. The franchisor provides training and support, but your success largely relies on your management skills and decision-making abilities. What Are the 4 P’s of Franchising? The 4 P’s of franchising are Product, Price, Place, and Promotion. You must guarantee that your product aligns with brand standards and appeals to your target market. Set competitive pricing that reflects your offerings’ value. Choose locations strategically to maximize customer access and improve business performance. Finally, utilize effective promotion strategies, leveraging marketing resources from the franchisor to communicate your franchise’s value proposition and attract customers effectively. What Are the Key Aspects of the Franchisor Franchisee Relationship? The key aspects of the franchisor-franchisee relationship include mutual support, adherence to established standards, and effective communication. Franchisors provide vital resources like training and operational guidelines, whereas franchisees manage daily operations independently. Both parties should align on goals to improve growth and profitability. Regular communication promotes trust and collaboration, ensuring that feedback is exchanged effectively. Maintaining this balance is fundamental for a successful partnership in the franchise business model. What Is the Franchise Relationship Model? The franchise relationship model is a structured partnership where the franchisor grants the franchisee the right to operate a business using its brand and systems. You’ll invest capital and follow guidelines to maintain brand consistency. This model emphasizes mutual dependence, as both parties aim for shared success. Effective communication and support from the franchisor are crucial, whereas you retain some operational independence, allowing you to make decisions critical to your business’s performance. Conclusion In summary, comprehending the franchise and franchisee relationship is essential for success. Clear communication, adherence to franchise agreements, and mutual support nurture a collaborative environment. Both franchisors and franchisees must recognize their roles and navigate common challenges to build trust. By focusing on these aspects, you can improve your partnership and drive growth. In the end, a strong relationship between franchisor and franchisee leads to operational consistency and a thriving business model for both parties involved. Image via Google Gemini and ArtSmart This article, "Understanding the Franchise and Franchisee Relationship" was first published on Small Business Trends View the full article

Grasping the franchise and franchisee relationship is vital for success in this business model. This relationship is guided by a franchise agreement, which details the rights and responsibilities of both parties. Although franchisees have the independence to operate their businesses, they must likewise adhere to the standards set by the franchisor. Effective communication and support play significant roles in this partnership, but challenges can arise. Exploring these dynamics can reveal effective strategies for maneuvering the intricacies of franchising. Key Takeaways Franchising involves a franchisee operating under a franchisor’s established brand, following a defined franchise agreement outlining mutual rights and responsibilities. Franchisees maintain operational independence while adhering to franchisor guidelines, balancing autonomy with brand consistency and compliance. Effective communication between franchisors and franchisees fosters trust, minimizes misunderstandings, and enhances collaboration for business success. The franchise growth and maturity phases require ongoing support from franchisors, with accountability measures ensuring performance alignment between both parties. Common challenges include communication gaps and misaligned expectations, necessitating regular reviews and clear objectives to maintain a healthy franchise relationship. The Definition of Franchising Franchising serves as a strong business model that allows you to operate under an established brand as well as leveraging the systems and support provided by the franchisor. In this legal agreement, the franchisee gains the right to run a business using the franchisor’s trademark, operating systems, and overall business format. The franchise agreement clearly outlines the rights and obligations of both the franchisor and franchisee, establishing the foundation of their relationship. A key difference between franchisor and franchisee is that the franchisor owns the brand and provides training, marketing, and ongoing support, whereas the franchisee independently operates the unit. This structure not only benefits franchisees seeking business opportunities but additionally helps franchisors expand their brand presence effectively. The Importance of Clear Communication Effective communication is fundamental for the success of any franchise relationship, as it helps build trust and minimizes misconceptions between franchisors and franchisees. The franchisee vs franchisor dynamic thrives on clear communication, which reduces confusion and nurtures a strong partnership. Establishing regular communication channels, like meetings and newsletters, guarantees both parties receive consistent updates and feedback. Maintaining a reliable flow of information is important for addressing challenges swiftly. Providing contact information for key personnel and a dedicated hotline improves accessibility in the franchisor-franchisee relationship. Encouraging transparency in sharing information keeps franchisees informed, promoting collaboration and innovation. Comprehending the franchisee and franchisor difference is critical, as it emphasizes the importance of open dialogue for mutual success. The Role of the Franchisor In the franchise model, the franchisor plays a vital role by providing the brand and business model that you, as a franchisee, rely on for your operations. They also offer fundamental training and ongoing support to guarantee you understand the operational guidelines and can effectively run your business. Furthermore, franchisors manage marketing efforts and enforce compliance standards, making certain that all franchise locations maintain the same quality and brand integrity. Brand and Business Model Although many entrepreneurs seek independence in business ownership, partnering with a franchisor can provide a structured pathway to success through a well-established brand and a proven business model. The franchisor offers franchisees the right to use their trademarks, enhancing brand recognition and building customer trust. Comprehending the difference between franchisee and franchisor is essential, as the latter sets operational guidelines and standards, ensuring consistency across locations. This franchise and franchisee relationship is formalized through a franchise agreement, which outlines roles and responsibilities. In addition, effective marketing efforts led by the franchisor help drive customer traffic to franchisee locations. Training and Support Provided When you become a franchisee, the training and support provided by the franchisor play a vital role in your business’s success. Franchisors typically offer thorough training programs that cover operational procedures, customer service standards, and marketing strategies, ensuring consistency across the brand. Ongoing support includes regular updates on best practices, new products, and technology improvements, helping you stay competitive. Moreover, franchisors often create advisory councils with franchisees to facilitate communication and gather feedback, making your input valuable in decision-making. They may assist with site selection, lease negotiations, and local marketing initiatives to help you launch and grow your business. Comprehending the difference between franchise and franchisee is important, as it defines your role and the support you receive. Marketing and Compliance Standards Marketing and compliance standards, established by the franchisor, play an important role in maintaining a consistent brand identity across all franchise locations. These standards guarantee that every franchisee presents the brand uniformly, which is vital for customer recognition and loyalty. The franchisor manages overall marketing and advertising efforts, providing franchisees with promotional materials and strategies designed to boost customer engagement and sales. Adhering to these marketing standards is mandatory; failure to comply could lead to penalties or jeopardize your franchise agreement. Regular updates and support from the franchisor help you stay aligned with compliance expectations. Moreover, you can collaborate with the franchisor to customize local marketing initiatives as you adhere to the established framework, balancing local outreach with brand consistency. The Role of the Franchisee Franchisees play a crucial role in the success of a franchise operation by managing their units in alignment with the franchisor’s established guidelines. As a franchisee, you’re not just an operator; you’re a key player in maintaining brand integrity. Here are some of your core responsibilities: Adhere to Standards: You follow the franchisor’s operational guidelines to guarantee consistency and quality. Financial Investment: You invest your capital, taking on the financial risk associated with your franchise’s success or failure. Training Participation: You engage in training programs to acquire necessary skills for effective management. Day-to-Day Control: You make daily decisions, like hiring staff and setting prices, during still aligning with the franchisor’s strategies. Your role is crucial for the franchise’s overall performance and reputation. Understanding Franchise Agreements Grasping the intricacies of a franchise agreement is fundamental for anyone entering the franchise business, as this legal document defines the relationship between you and the franchisor. It outlines your rights and obligations, ensuring clarity. Key components often include the franchise duration, fees, territorial rights, and operational guidelines. You’ll need to adhere to specific standards set by the franchisor to maintain brand consistency. Before signing, the Franchise Disclosure Document (FDD) must be provided, detailing critical information about the opportunity. Furthermore, the agreement may include renewal options, termination clauses, and conditions for transferring ownership. Comprehending these elements is crucial, as they can greatly impact your investment and future success as a franchisee. Phases of the Franchise Relationship In the franchise relationship, you’ll encounter four key phases: Recruitment, Growth, Maturity, and The End or a New Beginning. Each phase presents unique dynamics and expectations, starting with trust-building during Recruitment and moving through the extensive support needed in Growth. As you progress to Maturity, both parties aim for stability and mutual comprehension, setting the stage for potential reassessment in the final phase. Recruitment Phase Overview The recruitment phase is crucial in establishing a successful franchise relationship, as it sets the groundwork for future collaboration between franchisors and prospective franchisees. This phase begins with identifying suitable franchisees and establishing clear expectations. To guarantee a strong foundation, consider these key elements: Mutual Interest: Build trust through ongoing communication and shared goals. Franchise Disclosure Document (FDD): Provide prospective franchisees with important details about the opportunity. Effective Communication: Keep lines open to nurture a positive relationship and shared vision. Alignment with Brand Values: Confirm that franchisees resonate with the franchise’s mission and culture. A successful recruitment phase greatly impacts the franchise system’s overall performance and future success. Growth and Maturity Stages As franchisees shift from the recruitment phase into the Growth stage, they encounter a significant period that shapes the trajectory of their business. This phase kicks off after signing the franchise agreement and typically lasts three years. During this time, you’ll need substantial support and training from your franchisor. Regular communication and thorough training programs are crucial for nurturing a strong relationship and ensuring your satisfaction. As you move into the Maturity phase, expect a more predictable relationship where ongoing training and marketing support become indispensable. Nevertheless, be cautious; disenchantment may arise if you feel the support diminishes, potentially affecting your decision to renew contracts. Effective communication and mutual comprehension are key to maintaining trust and collaboration throughout both phases. Mutual Goals and Objectives Mutual goals and objectives form the backbone of a successful franchise relationship, driving both franchisors and franchisees toward shared outcomes. By aligning interests, both parties can improve overall success. Here are some key mutual goals: Brand Growth: Both franchisors and franchisees aim to expand brand visibility and market share. Increased Profitability: Focusing on strategies that boost profits benefits everyone involved. Customer Satisfaction: Happy customers lead to repeat business and positive brand reputation. Operational Efficiency: Regular communication and adherence to performance metrics streamline operations. Franchise agreements typically outline expectations and objectives, promoting accountability. When both parties actively pursue common objectives, they often see improved performance metrics, including higher sales and customer retention rates, boosting the franchise system’s success. Independence vs. Support As franchisees operate as independent business owners, they must navigate the delicate balance between exercising their autonomy and adhering to the support provided by franchisors. You make key decisions on hiring, employee scheduling, and pricing during the process of following the operational guidelines set by your franchisor. The franchise agreement specifies the level of independence you have alongside the support offered, which typically includes training, marketing assistance, and operational standards. Although franchisors provide valuable resources to improve your performance, they don’t manage your day-to-day operations, allowing you to maintain control. Striking the right balance between independence and support is essential, as effective franchisor guidance can greatly impact your satisfaction and overall success in running your franchise. Common Challenges in Franchise Relationships In franchise relationships, communication gaps often lead to misunderstandings, which can greatly impact franchisee satisfaction. When support from franchisors falls short of expectations, franchisees may feel isolated and discontented. Furthermore, misaligned expectations regarding operational autonomy can create tension, making it essential for both parties to establish clear communication and support systems. Communication Gaps in Franchising How can communication gaps impact the franchisor-franchisee relationship? These gaps often arise from a lack of regular updates and inconsistent messaging, leading to misconceptions. When franchisees feel isolated because of insufficient feedback channels, their satisfaction and performance can suffer. To mitigate these issues, consider the following strategies: Establish regular check-ins to discuss concerns and updates. Share information transparently to build trust and rapport. Foster a collaborative environment by reviewing communication methods regularly. Practice empathy and mutual comprehension during negotiations to bridge gaps. Support Limitations From Franchisors Whereas franchisees often expect robust support from their franchisors, the reality is that this support can be limited by the terms of the franchise agreement. Franchisors typically provide advisory support rather than direct managerial oversight, leaving you responsible for your business outcomes. The franchise agreement clearly outlines the limits of support, as franchisors can’t risk their assets on franchisee failures. During critical growth phases, you might feel isolated and dissatisfied if you perceive a decline in support. Although training and resources are expected, their effectiveness can vary considerably among franchise systems. Misaligned Expectations Between Parties Misaligned expectations between franchisees and franchisors can create significant challenges that undermine the success of the franchise relationship. To navigate these intricacies, it’s crucial to recognize common pitfalls: Underestimating Support Needs: Franchisees often expect more hands-on help during the initial growth phase than franchisors typically provide. Role Confusion: Franchisees may assume franchisors will manage operations thoroughly, whereas franchisors usually offer only advisory support. Ambiguities in Agreements: A lack of clarity in franchise agreements can lead to misunderstandings about responsibilities and performance metrics. Communication Gaps: Breakdown in communication can prevent franchisees from grasping the franchisor’s vision and strategic goals. Regularly reviewing and adjusting mutual goals can help mitigate these challenges and encourage a healthier franchise relationship. Building Trust and Collaboration Building trust and collaboration between franchisors and franchisees is crucial for a successful franchise relationship, as these elements create a foundation for achieving shared goals. Trust develops through consistent communication and regular check-ins, allowing both parties to work together effectively. By cultivating a collaborative environment, franchisors and franchisees can improve performance during addressing challenges that arise. Transparency in operations and decision-making processes further strengthens this trust, making franchisees feel valued and involved in the brand’s direction. Mutual comprehension is fundamental, as recognizing each other’s perspectives helps resolve conflicts and build stronger connections. Moreover, effective training and support from franchisors equip franchisees with the tools and knowledge they need to succeed, promoting a more collaborative partnership overall. Strategies for Success in Franchising Successful franchising relies on effective strategies that improve the relationship between franchisors and franchisees. Here are some key approaches to guarantee success: Establish Clear Communication: Maintain open channels for updates and feedback to build trust and collaboration. Implement Extensive Training: Provide thorough training programs during the initial growth phase to help franchisees understand operational guidelines. Utilize Digital Signage: Boost brand visibility and engagement with digital signage for real-time updates and promotions, aiding franchisees in consistency. Set SMART Goals: Create specific, measurable, achievable, relevant, and time-bound goals for both parties to guarantee alignment and accountability. Frequently Asked Questions What Is the Relationship Between a Franchiser and a Franchisee? The relationship between a franchisor and a franchisee is defined by a contractual agreement. You, as a franchisee, gain the right to operate a business using the franchisor’s trademarks and business model. As you manage daily operations independently, you must adhere to the franchisor’s established guidelines for quality and service. The franchisor provides training and support, but your success largely relies on your management skills and decision-making abilities. What Are the 4 P’s of Franchising? The 4 P’s of franchising are Product, Price, Place, and Promotion. You must guarantee that your product aligns with brand standards and appeals to your target market. Set competitive pricing that reflects your offerings’ value. Choose locations strategically to maximize customer access and improve business performance. Finally, utilize effective promotion strategies, leveraging marketing resources from the franchisor to communicate your franchise’s value proposition and attract customers effectively. What Are the Key Aspects of the Franchisor Franchisee Relationship? The key aspects of the franchisor-franchisee relationship include mutual support, adherence to established standards, and effective communication. Franchisors provide vital resources like training and operational guidelines, whereas franchisees manage daily operations independently. Both parties should align on goals to improve growth and profitability. Regular communication promotes trust and collaboration, ensuring that feedback is exchanged effectively. Maintaining this balance is fundamental for a successful partnership in the franchise business model. What Is the Franchise Relationship Model? The franchise relationship model is a structured partnership where the franchisor grants the franchisee the right to operate a business using its brand and systems. You’ll invest capital and follow guidelines to maintain brand consistency. This model emphasizes mutual dependence, as both parties aim for shared success. Effective communication and support from the franchisor are crucial, whereas you retain some operational independence, allowing you to make decisions critical to your business’s performance. Conclusion In summary, comprehending the franchise and franchisee relationship is essential for success. Clear communication, adherence to franchise agreements, and mutual support nurture a collaborative environment. Both franchisors and franchisees must recognize their roles and navigate common challenges to build trust. By focusing on these aspects, you can improve your partnership and drive growth. In the end, a strong relationship between franchisor and franchisee leads to operational consistency and a thriving business model for both parties involved. Image via Google Gemini and ArtSmart This article, "Understanding the Franchise and Franchisee Relationship" was first published on Small Business Trends View the full article

Every day more than $4 billion worth of goods cross the United States’ borders with Canada and Mexico—U.S. auto parts headed for car factories in northern Mexico, cartons of Mexican avocados bound for California supermarkets, Canadian aluminum destined to become cans of Campbell Soup. Much of this bustling cross-border commerce is duty-free, thanks to the US-Mexico-Canada Agreement, or USMCA, that President Donald The President negotiated with America’s northern and southern neighbors during his first term. But the future of the USMCA , which took effect July 1, 2020, is cloudy as the three countries begin what could be a tempestuous attempt to renew the pact this year. The United States is demanding changes to the treaty, and the top U.S. trade negotiator told Politico in December that The President would be willing to pull the United States out of the pact if he can’t get the deal he wants. The President also suggested last fall that the United States could negotiate separate deals with Canada and Mexico, ending the three-country North American bloc that previous administrations saw as crucial to competing economically with China and the European Union. The talks kick off Monday between U.S. and Mexican trade officials. The North American economies could agree to renew USMCA as it is for another 16 years— a prospect that appears unlikely. Or they could keep working on ways to improve it; under a convoluted renewal process, they have until 2036 to reach an agreement — or the pact expires. Meantime, any USMCA country can pull out of the pact provided it gives its two partners six months’ notice – an option that Canada and Mexico, heavily dependent on trade with the United States, fear the impulsive The President might end up choosing. At stake is $1.6 trillion worth of annual trade in goods between the United States and its two USMCA partners. Mexico and Canada are far ahead of China in both exports to and imports from the United States. American farmers are especially keen to see the deal renewed: Last year, they shipped nearly $31 billion in agricultural products to Mexico and $28 billion to Canada. U.S. imports from Canada and Mexico were spared the worst of The President’s 2025 tariffs; many goods compliant with USMCA rules continued to enter the United States duty free. Still, a number of products did not get protection from the U.S. levies, including medium- and heavy-duty trucks, which face a 25% tariff. A 50% tariff on steel, aluminum and copper remains in effect, as does a 17% tariff on Mexican tomatoes. The USMCA replaced the 1994 North American Free Trade Agreement negotiated by President George H.W. Bush and signed into law by President Bill Clinton. The President and other critics had criticized NAFTA as a killer of U.S. jobs because it encouraged U.S. companies to relocate factories south of the border to take advantage of low-wage Mexican labor and then send goods back to the United States duty free. The USMCA, ratified by Congress with rare support from Republicans and Democrats alike, ended up being very similar to NAFTA. But it did contain provisions designed to encourage factories in the region to pay higher wages and make sure that more of what they made originated in North America. The new pact updated North American trade rules for the digital age. The USMCA, for instance, bars the United States, Mexico and Canada from slamming each other with import taxes on music, software, games and other products sold electronically. A proud The President declared the USMCA “the fairest, most balanced and beneficial trade agreement we have ever signed.” But the president’s enthusiasm seems to have waned. In January, he expressed little interest in the upcoming talks to renew the agreement. The effort, he said, offered “no real advantage to us. It’s irrelevant to me.” The USMCA did little to ease one of The President’s biggest complaints: The U.S. deficit in the trade of goods with Mexico, which rose last year to a record $197 billion as the United States reduced its reliance on Chinese imports. The U.S. also ran a merchandise trade deficit with Canada of $46.4 billion last year, a decrease from 2024. “Improvements are required for it to deliver the high-wage U.S. manufacturing powerhouse and balanced trade (The President) promised and we need,” said Lori Wallach, director of the Rethink Trade program at the American Economic Liberties Project. The United States plans to push for a series of changes, including stronger rules to ensure that goods from China won’t slip into the United States under USMCA; to encourage more production in the United States; and to ensure more access to Canada’s protected dairy market for U.S. farmers. Mexico’s core priorities are to avoid a major rewrite of the agreement and to make rules of origin more flexible —allowing imports of parts from outside North America when they are not available in the region. Mexican negotiators also want assurances that anything agreed to will stick, providing insurance against The President’s unpredictability and his enthusiasm for tariffs. Mexico wants to minimize tariffs as much as possible. Mexican Economy Secretary Marcelo Ebrard said Mexico wants to strengthen the dispute resolution system already in place under the treaty. That would not eliminate the possibility of tariffs, but it would provide clear, swift channels for seeking solutions when problems arise, he said. Mexican President Claudia Sheinbaum’s administration will have to simultaneously manage existing security issues, which are ongoing after the killing of Jalisco New Generation Cartel’s leader in late February, and which could influence economic matters. Mexico anticipates that Canada will join the talks later, but its top priority in the coming months is to reach agreements and maintain the free trade with the United States, its main commercial partner. Mexico is pushing the idea that the treaty is also good for the US. “The integration of our countries is an absolute prerequisite for the United States to remain competitive,” Ebrard said recently. “We must move forward together; otherwise, we will not succeed.” —Paul Wiseman and María Verza, Associated Press View the full article

We may earn a commission from links on this page. On Monday, Apple officially announced the AirPods Max 2. As the name implies, this is the first major update to the AirPods Max since Apple introduced the over-the-ear headphones in 2020. The company previously rolled out a minor refresh for the AirPods Max, but this only replaced the original pair's Lightning port with USB-C, and enabled Apple to add a couple neat perks via software update. AirPods Max 2, however, come with new features out of the gate—features that Apple's earbuds have actually had for years. First, an answer to the question most likely on your mind: No, Apple did not change the price. These headphones are still $549, which is expensive, even for high-end over the ear headphones. Take a look at PCMag's list of the best headphones for 2026, and you'll see similar options from competitors like Sony and Bose reach up to $450 or $460, but none break $500—and you'll often find huge discounts on these headphones to boot. The AirPods Max's price tag has always made these headphones hard to recommend, even though I personally love them. That's still the case with the AirPods Max 2. Still, Apple is offering a lot more functionality for the same price, and seeing as $549 in 2020 is worth nearly $700 in 2025, you are getting quite a bit more for your money with the AirPods Max 2. The new headphones get Apple's H2 chip, which Apple says improves noise cancellation by up to 1.5 times, and enables "even more natural" Transparency mode. The company says the new headphones have a new high dynamic range amplifier "for even cleaner audio," while maintaining the sound signature from the previous generation AirPods Max. Meanwhile, Spatial Audio sounds "better than ever" with "more accurate and consistent bass response, and more natural-sounding mids and highs." Like the USB-C AirPods Max, these headphones support 24-bit 48 kHz lossless audio when connected via a wired USB-C cable. AirPods Max 2's "new" featuresSo, according to Apple, AirPods Max 2 sound better than AirPods Max. That's to be expected from a new generation of headphones. In my view, however, the real upgrade here are all the "intelligent" features that AirPods Max 2 now support. For the first time, AirPods Max supports Adaptive Audio, which automatically adjusts noise cancellation and Transparency levels to match your environment. That also includes Conversation Awareness, which automatically lowers the volume and reduces background sounds when you start speaking. That way, you can hear someone clearly while having a conversation with your AirPods Max on, and when you're done talking, your audio comes back at its previous volume. The new AirPods also support Voice Isolation, which blocks out background noise and emphasizes your voice during calls, as well as Personalized volume, which adjusts the volume based on your past preferences. There's "Loud Sound Reduction," which caps the loudness of externals sounds while preserving the sounds themselves. (You could wear these to a concert and still hear everything, but protect yourself from sounds that are too loud.) You can also nod or shake your head to interact with Siri, rather than speak your commands. (If Siri asks you whether you'd like to respond to a message, you can nod to accept, or shake your head to dismiss.) You can also take advantage of Live Translation, Apple's feature that translates conversations on the fly. The thing is, none of these features are actually new, and with exception to some (namely Live Translation), have been available on some AirPods models for years. It's great that Apple finally added them to the AirPods Max, but it is frustrating that the USB-C model didn't include them for that $549 price point. Apple says that you can pre-order AirPods Max 2 starting March 25, in midnight, starlight, orange, purple, and blue, and that the headphones will be available starting early next month. Now that these headphones are official, however, keep an eye out for discounts on the previous generation AirPods Max. Amazon tends to have good deals on AirPods Max from time to time, and now that there's a new model, the previous ones should go down in price even more—as long as there's availability. As of this piece, the best deals appear to be on renewed models. AirPods Max (Renewed) $399.00 at Amazon Get Deal Get Deal $399.00 at Amazon View the full article

Perfecting sales involves a structured process that can greatly improve your effectiveness. It starts with prospecting potential customers, then moves to comprehending their needs through assessments. Engaging with clients through customized solutions is essential, as is establishing follow-up procedures for long-term relationships. Yet, many face challenges along the way. To navigate this, it’s important to adapt your approach to your specific industry as you utilize technology for ongoing advancement. What strategies will you implement to refine your sales process? Key Takeaways Establish a structured sales process to ensure consistency and boost team confidence throughout each stage of sales. Begin with effective prospecting to identify and qualify leads, ensuring a strong pipeline for potential sales. Conduct thorough needs assessments to understand customer requirements and tailor solutions accordingly. Utilize CRM and automation tools to streamline workflows and enhance productivity within the sales process. Regularly review performance data to identify bottlenecks and adapt strategies for continuous improvement. Understanding the Sales Process and Its Importance The sales process is a crucial framework that guides sales professionals through their interactions with potential customers. Comprehending how to succeed in sales starts with adopting a structured sales process. This approach improves consistency among sales personnel, boosts their confidence, and enhances overall performance by creating predictable revenue outcomes. Breaking the sales expedition into defined stages increases efficiency, allowing you to focus on specific tasks and track your progress. Additionally, data-driven insights from this structured process enable continuous strategy refinement, leading to a more agile sales approach. Key Components and Stages of a Successful Sales Process A successful sales process hinges on several key components and stages that streamline the progression from initial contact to closing a deal. To start a career in sales, you need to understand these defined steps, which include prospecting, qualifying leads, and conducting needs assessments. Knowing how to make a sales call is crucial, as this is where sales call meaning becomes clear—engaging potential customers effectively. What makes a good salesman is the ability to present customized solutions and handle objections. Following up to build relationships is important for long-term success. If you want to know how to be a good sales associate, focus on perfecting these stages, enabling you to get started in sales with confidence and competence. Challenges in Sales Processes and How to Overcome Them Steering through the sales process can present various challenges that may hinder your team’s success, especially when shifting from informal methods to a more structured approach. Resistance to change among team members can create obstacles, so providing ongoing training is vital. Consistency is key, as different practices can lead to confusion; implementing standardized processes helps everyone stay aligned. Furthermore, bottlenecks can occur at various stages, necessitating regular data reviews. Balancing structure with flexibility is critical, as rigid processes may stifle creativity. Here are some tips to help you navigate these challenges: Challenge Solution Tips Resistance to change Ongoing training Emphasize benefits Inconsistency Standardized processes Share best practices Bottlenecks Regular data reviews Analyze and adapt frequently Tailoring Your Sales Process to Fit Your Industry Grasping the unique characteristics of your industry is fundamental for tailoring your sales process effectively. To begin, identify how customer behaviors differ in B2C versus B2B contexts, as these distinctions greatly influence sales effectiveness. Each industry may require specific stages or activities that align with customer expectations, so it’s vital to adapt your strategies accordingly. Furthermore, comprehending lead sourcing methods can help you attract and convert leads more efficiently, ensuring your approach resonates with market practices. In regulated industries, compliance stages must be integrated, incorporating necessary checks to meet legal standards. By thoroughly analyzing these factors, you’ll improve your sales process and boost your chances of success as you learn how to begin a career in sales or become a sales rep. Leveraging Technology for Continuous Improvement in Sales As you look to refine your sales strategy, leveraging technology can play a crucial role in driving continuous improvement. By utilizing Salesforce software, you can manage your sales process more effectively, guaranteeing real-time tracking and collaboration. Automation tools streamline workflows, allowing your team to focus on high-value tasks. Implementing analytics tools helps you interpret performance metrics, as continuous feedback loops facilitate quick adaptation based on customer insights. Technology Benefit CRM Software Real-time tracking & collaboration Automation Tools Increased productivity Analytics Tools Informed decision-making Continuous Feedback Ongoing improvement culture Training & Development Latest techniques & strategies Leveraging technology for training and development guarantees your team stays ahead. Frequently Asked Questions What Are the 7 Steps in the Sales Process? The seven steps in the sales process include Lead Generation, Prospecting, Lead Qualification, Initial Contact, Proposal Delivery, Negotiation and Closing, and Post-Sale Follow-up. You start by generating leads to attract potential customers. Then research these leads in the prospecting phase. After qualifying leads based on their interest and capability, you make initial contact, deliver proposals, negotiate terms, and finally follow up to guarantee satisfaction and promote ongoing relationships. What Is the 3-3-3 Rule in Sales? The 3-3-3 Rule in sales helps you structure interactions effectively. You spend three minutes on each of three phases: introduction, fact-finding, and presentation. During the introduction, build trust and set the conversation’s tone. In the fact-finding phase, dedicate 70% of your time to uncovering customer needs through active listening. Finally, present customized solutions that address those needs clearly, ensuring your proposal aligns with the customer’s budget and requirements for a smooth closing. What Is the 10 3 1 Rule in Sales? The 10-3-1 rule in sales suggests that for every ten prospects you reach out to, you should aim to have three meaningful conversations, eventually leading to one closed sale. This approach emphasizes the importance of quality interactions over sheer numbers, recognizing that not every prospect will convert. What Are the 12 Steps to the Sale? The 12 steps to the sale include prospecting, qualifying, needs assessment, presenting solutions, handling objections, closing the sale, and follow-up. Each step builds on the previous one, ensuring you understand customer needs and tailor your approach. By actively listening and asking probing questions during the fact-finding stage, you gather crucial information. A well-structured presentation highlights relevant benefits, whereas effective follow-up nurtures long-term relationships, finally leading to repeat business and referrals. Conclusion Achieving proficiency in sales involves a structured approach that improves your team’s effectiveness. By prospecting, qualifying leads, and conducting thorough needs assessments, you can engage clients more meaningfully. Presenting customized solutions and establishing solid follow-up procedures nurtures long-term relationships that lead to increased revenue. Furthermore, leveraging technology and data-driven insights can refine your sales process. By implementing these steps, you’ll create a consistent and successful sales strategy that adapts to your industry and drives growth. Image via Google Gemini and ArtSmart This article, "Mastering How to Do Sales: A Step-by-Step Guide" was first published on Small Business Trends View the full article

Perfecting sales involves a structured process that can greatly improve your effectiveness. It starts with prospecting potential customers, then moves to comprehending their needs through assessments. Engaging with clients through customized solutions is essential, as is establishing follow-up procedures for long-term relationships. Yet, many face challenges along the way. To navigate this, it’s important to adapt your approach to your specific industry as you utilize technology for ongoing advancement. What strategies will you implement to refine your sales process? Key Takeaways Establish a structured sales process to ensure consistency and boost team confidence throughout each stage of sales. Begin with effective prospecting to identify and qualify leads, ensuring a strong pipeline for potential sales. Conduct thorough needs assessments to understand customer requirements and tailor solutions accordingly. Utilize CRM and automation tools to streamline workflows and enhance productivity within the sales process. Regularly review performance data to identify bottlenecks and adapt strategies for continuous improvement. Understanding the Sales Process and Its Importance The sales process is a crucial framework that guides sales professionals through their interactions with potential customers. Comprehending how to succeed in sales starts with adopting a structured sales process. This approach improves consistency among sales personnel, boosts their confidence, and enhances overall performance by creating predictable revenue outcomes. Breaking the sales expedition into defined stages increases efficiency, allowing you to focus on specific tasks and track your progress. Additionally, data-driven insights from this structured process enable continuous strategy refinement, leading to a more agile sales approach. Key Components and Stages of a Successful Sales Process A successful sales process hinges on several key components and stages that streamline the progression from initial contact to closing a deal. To start a career in sales, you need to understand these defined steps, which include prospecting, qualifying leads, and conducting needs assessments. Knowing how to make a sales call is crucial, as this is where sales call meaning becomes clear—engaging potential customers effectively. What makes a good salesman is the ability to present customized solutions and handle objections. Following up to build relationships is important for long-term success. If you want to know how to be a good sales associate, focus on perfecting these stages, enabling you to get started in sales with confidence and competence. Challenges in Sales Processes and How to Overcome Them Steering through the sales process can present various challenges that may hinder your team’s success, especially when shifting from informal methods to a more structured approach. Resistance to change among team members can create obstacles, so providing ongoing training is vital. Consistency is key, as different practices can lead to confusion; implementing standardized processes helps everyone stay aligned. Furthermore, bottlenecks can occur at various stages, necessitating regular data reviews. Balancing structure with flexibility is critical, as rigid processes may stifle creativity. Here are some tips to help you navigate these challenges: Challenge Solution Tips Resistance to change Ongoing training Emphasize benefits Inconsistency Standardized processes Share best practices Bottlenecks Regular data reviews Analyze and adapt frequently Tailoring Your Sales Process to Fit Your Industry Grasping the unique characteristics of your industry is fundamental for tailoring your sales process effectively. To begin, identify how customer behaviors differ in B2C versus B2B contexts, as these distinctions greatly influence sales effectiveness. Each industry may require specific stages or activities that align with customer expectations, so it’s vital to adapt your strategies accordingly. Furthermore, comprehending lead sourcing methods can help you attract and convert leads more efficiently, ensuring your approach resonates with market practices. In regulated industries, compliance stages must be integrated, incorporating necessary checks to meet legal standards. By thoroughly analyzing these factors, you’ll improve your sales process and boost your chances of success as you learn how to begin a career in sales or become a sales rep. Leveraging Technology for Continuous Improvement in Sales As you look to refine your sales strategy, leveraging technology can play a crucial role in driving continuous improvement. By utilizing Salesforce software, you can manage your sales process more effectively, guaranteeing real-time tracking and collaboration. Automation tools streamline workflows, allowing your team to focus on high-value tasks. Implementing analytics tools helps you interpret performance metrics, as continuous feedback loops facilitate quick adaptation based on customer insights. Technology Benefit CRM Software Real-time tracking & collaboration Automation Tools Increased productivity Analytics Tools Informed decision-making Continuous Feedback Ongoing improvement culture Training & Development Latest techniques & strategies Leveraging technology for training and development guarantees your team stays ahead. Frequently Asked Questions What Are the 7 Steps in the Sales Process? The seven steps in the sales process include Lead Generation, Prospecting, Lead Qualification, Initial Contact, Proposal Delivery, Negotiation and Closing, and Post-Sale Follow-up. You start by generating leads to attract potential customers. Then research these leads in the prospecting phase. After qualifying leads based on their interest and capability, you make initial contact, deliver proposals, negotiate terms, and finally follow up to guarantee satisfaction and promote ongoing relationships. What Is the 3-3-3 Rule in Sales? The 3-3-3 Rule in sales helps you structure interactions effectively. You spend three minutes on each of three phases: introduction, fact-finding, and presentation. During the introduction, build trust and set the conversation’s tone. In the fact-finding phase, dedicate 70% of your time to uncovering customer needs through active listening. Finally, present customized solutions that address those needs clearly, ensuring your proposal aligns with the customer’s budget and requirements for a smooth closing. What Is the 10 3 1 Rule in Sales? The 10-3-1 rule in sales suggests that for every ten prospects you reach out to, you should aim to have three meaningful conversations, eventually leading to one closed sale. This approach emphasizes the importance of quality interactions over sheer numbers, recognizing that not every prospect will convert. What Are the 12 Steps to the Sale? The 12 steps to the sale include prospecting, qualifying, needs assessment, presenting solutions, handling objections, closing the sale, and follow-up. Each step builds on the previous one, ensuring you understand customer needs and tailor your approach. By actively listening and asking probing questions during the fact-finding stage, you gather crucial information. A well-structured presentation highlights relevant benefits, whereas effective follow-up nurtures long-term relationships, finally leading to repeat business and referrals. Conclusion Achieving proficiency in sales involves a structured approach that improves your team’s effectiveness. By prospecting, qualifying leads, and conducting thorough needs assessments, you can engage clients more meaningfully. Presenting customized solutions and establishing solid follow-up procedures nurtures long-term relationships that lead to increased revenue. Furthermore, leveraging technology and data-driven insights can refine your sales process. By implementing these steps, you’ll create a consistent and successful sales strategy that adapts to your industry and drives growth. Image via Google Gemini and ArtSmart This article, "Mastering How to Do Sales: A Step-by-Step Guide" was first published on Small Business Trends View the full article

Galaxy phone owners have been able to use Samsung DeX to access a desktop mode for years at this point, and now Google Pixel users have a similar feature to call their own. The latest Android 16 QPR3 release, pushed out at the start of March 2026, lets you plug a Pixel phone into a monitor and access a desktop-like interface. If you're completely new to these desktop modes, they let you operate your phone as if it's a Windows or macOS computer (sort of). The Android software and the apps don't change, but you get a taskbar at the bottom of the display, the ability to run apps in windows alongside each other, and a few other helpful tweaks. In theory, this can be a real boon to productivity. Sit down at your desk, and you can carry on using all the apps you're familiar with on your phone, only with the added convenience of a larger display, as well as a mouse and keyboard. Mobile apps like Slack and Google Docs are now capable enough that most features available on the desktop can be used on mobile. A simple launcher lets you access your apps. Credit: Lifehacker There are quite a few caveats, however. You need a Pixel 8 or newer for this to work, as well as a USB-C DisplayPort connection. You're also going to need a Bluetooth mouse and keyboard connected to your phone to make the most of this: Pixels don't yet have the use-your-phone-as-a-trackpad functionality of Samsung DeX. If you do have the necessary hardware in place for this to work, it's worth giving it a try, even at this early stage. You might find it's helpful for working on the go and hot desking, or for finding a quiet place to work somewhere at home. Using the desktop mode on a PixelWhile the desktop mode is now officially part of Android proper, don't expect a flawless experience just yet. I managed to get my Pixel 9 hooked up to a monitor via a USB-C-to-DisplayPort connection, but this only worked directly—not through a hub. The display resolution maxes out at 1080p. When you connect a compatible monitor to your Pixel's USB-C port, you'll see the choice to Mirror the phone display to the big screen or to open the new Desktop mode; it's the latter one you want. With that done, you should see the desktop interface, and you can start clicking around with your connected mouse. You can pin apps side by side. Credit: Lifehacker Everything is pretty easy to understand: You've got a taskbar at the bottom where your apps live, navigation buttons in the lower right corner, and a launcher button for opening more apps. Each app launches in a window that can be moved or resized as needed. If you hover over the resize button, you'll find you can snap two apps side by side, if you want to. One key benefit is that Chrome runs in desktop mode, so you get the full web experience—it's great to be able to browse websites properly, rather than having to navigate through mobile versions. That said, when you try to log into sites such as Google Docs or Slack, you'll get kicked out into the equivalent Android app, so it's not quite the same as using an actual desktop computer. It is possible to get stuff done, for sure—I typed out half of this article through Google Docs for Android on an external monitor—and for something in its early stages, it's definitely usable. I appreciated being able to launch podcast and chat apps on a larger display and not have to worry about whether they were syncing back to my phone properly. Many apps—including Netflix—don't take full advantage of the extra space. Credit: Lifehacker App developers clearly haven't caught up to this desktop mode yet. Apps like WhatsApp had misaligned buttons and oversized text in places, while most apps reverted to a standard tablet interface rather than a desktop one. With Netflix, for example, browsing the available titles felt like using a phone but just on a much bigger scale. These problems will most likely get sorted over time, and it would be nice to see Google continuing to add features as well—such as the ability to use your phone as a trackpad for the desktop interface, once it's connected, and better native monitor resolution support. With a bit more polish, this could be a seriously useful Android upgrade, and hopefully we'll hear more about it at Google I/O in May. View the full article

After-hours meetings have gone from rare to regular occurrences, and while some are hoping AI can help reverse the trend, experts warn breaking the habit will take more than tech. In a recent survey conducted by AI-powered workspace provider Miro, 33% of US-based knowledge workers said they frequently attended after-hours meetings in 2025, up from 23% in 2024. “Six in 10 people attend meetings after hours at least once a month, and that has all kinds of negative downstream effects,” says Dom Katz, Miro’s ways of working lead. “The data suggests more and more people consistently have meetings after their usual workday ends, and it’s getting worse; not just in the U.S. or Europe, but across the board.” Katz explains that the explosion in after-hours meetings is likely an extension of the rise in meetings more broadly. According to a 2025 study by Miro, for each hour a worker spends on “momentum work”—like brainstorming, collaborative workshops and interactive cross functional projects—they spend three more on maintenance tasks, like emails, paperwork and meetings. “It creates stress, it’s a productivity drain, and saps them off their creativity,” Katz says. Katz explains that scheduling and video conferencing technology has made it easier than ever to call a meeting. But he also warns that without proper guidelines, workers are likely to get stuck in a lot of unnecessary meetings, during and beyond standard operating hours. “Bad meeting hygiene is definitely a contributor,” he says. “You get into the meeting, there’s no agenda, they run over constantly, there’s no decisions made, so you get another meeting around it; it’s incredibly ineffective.” Why We’re Meeting More at Night The Miro data is consistent with Microsoft’s 2025 Work Trend Index, which found that meetings after 8 p.m. increased 16% from the previous year. According to that study, which was based on anonymized Microsoft Teams user data, the bulk of the increase was attributed to global and flexible teams. “In our sentiment data, which goes out to 31,000 people, 80% of employees said they didn’t feel like they had enough time and energy to do their job, so we know people are feeling burnt out,” says Alexia Cambon, director, office of applied research at Microsoft. “The lack of firm boundaries between personal life and professional life is probably a contributor.” Cambon hypothesizes that meetings began creeping into non-working hours during the pandemic and the transition to remote work. That period, she explains, introduced many to digital meetings tools—which made it possible to call a meeting with a few clicks—while making it harder to switch off at the end of the day. The added flexibility may have also allowed some to shift their work schedules in ways that better suited their personal needs, like putting off meetings until after their kids were in bed. Another potential factor, suggests Cambon, is the increasingly global nature of work. According to the Microsoft study, nearly a third of meetings span multiple time zones, a 35% increase from 2021, increasing the likelihood that some participants are joining after-hours in their time zone. “And then I think just the business pressures are higher, and we saw that in the survey data,” she says. “In particular, over half of business leaders told us they need more productivity from their employees, so we are seeing this very rapid pace.” Why AI Can’t Fix a Broken Meeting Culture New AI tools could reduce late-night gatherings by allowing workers to send AI note takers in their place, or enable more asynchronous alternatives to real-time events. At the same time, Cambon warns that the technology alone won’t produce better meeting hygiene. “Your meeting culture is your meeting culture, and unless you use AI very intentionally, nothing is really going to change,” she warns. “You have to figure out how to make your meeting culture better.” At the same time, the technology is also putting more pressure on businesses to adapt, which often results in more meetings, not less. “We’re seeing work shift in new ways, driven by AI, and from my perspective this has been an incredibly intensive time for workers and in particular workers in AI-native organizations,” says Dr. Rebecca Hinds, the head of the AI Work Institute for enterprise AI platform Glean and author of Your Best Meeting Ever. “There’s a pressure that I’ve never seen before, and we’re seeing more and more evidence that that is contributing to after-hours work.” In the wake of the pandemic, some organizations used new remote collaboration tools to enable greater flexibility, while others used them to encroach on work-life boundaries, and Dr. Hinds warns that AI is no different. “The more we have access to technology, the easier it is to schedule and attend a meeting, the more we’re going to do that in an environment where we don’t have a healthy, intentional meeting culture,” she says. “All of this is lowering the bar in terms of what it takes to schedule a meeting.” Using technology to free your evenings At the same time, Dr. Hinds says there are ways to use technology to promote work-life boundaries and free our evenings from work responsibilities. For example, some tools allow workers to limit their meeting availability to working hours. Others automatically warn organizers when they’re scheduling a meeting after-hours for participants in other time-zones. Some will even flag when a meeting is likely to be ineffective, such as when there are too many participants, or a majority of invitations haven’t received a response. Other tools, like AI note-takers, video messaging apps and digital collaboration tools are making it easier for workers to collaborate asynchronously, reducing their reliance on real-time conversations. “Asynchronous is the name of the game in terms of decreasing our time spent in dysfunctional meetings,” Dr. Hinds says. “[As is] having clear norms around what is the purpose of each tool, what is the purpose of a meeting, and how should we be using meetings? That holds true for any time of day.” View the full article

As a tech journalist who uses Google Docs a lot, I'm used to clicking past various AI prompts and offers of assistance whenever I want to write something with my own human brain. Now, I'm going to have to use up even more clicks to hide the AI integrations on a blank page—though, this time, some of them actually seem genuinely useful. Google is further upgrading Gemini's capabilities in Google Drive and its online office apps: Docs, Slides, and Sheets. You can now produce entire documents and spreadsheets with a prompt, create text that matches a particular style, and pull in relevant information from your Google Drive files, Gmail, Google Chat, and the web. These changes make Gemini inside Google Workspace "more personal, capable and collaborative" Google says, and they're rolling out now to Google AI Pro and AI Ultra subscribers with English set as their default language. The old (top) and new (bottom) Gemini interfaces in Google Docs. Credit: Lifehacker Google Docs gets new Gemini featuresThe new changes are most evident when you open up a new document: You'll see a new Gemini bar down at the bottom of the screen, together with various options for matching the style of another document with AI-generated text, and dropping in elements like an email draft or notes from a meeting. You can bring up this bar at any time by clicking the Gemini star icon at the bottom of your document. You can type any prompt you like into the Gemini bar. Want a short story about fish? Need to send a stern email about on-street parking to the neighbors? Gemini can help. I actually tried the fish story one, and it wasn't too bad, in a generic sort of way. If you click the + (plus) button down in the lower left corner, meanwhile, you can choose to import data from Google Drive, Google Chat, Gmail, and the web. Gemini wrote me a short story about fish. Credit: Lifehacker This gives you a host of options. You can draft an email to your boss, and pull from your previous correspondence with them, for example, or plan a travel itinerary based on the recommendations someone has given you in Google Chat. I got Gemini to produce a table listing all the Oscar 2026 winners and it worked flawlessly. (Thank you to the human writers who published this information online.) There are more ways to refine existing text, as well as generate new text. Just highlight a part of a document, then use a prompt to describe the changes you'd like. I asked Gemini to make the introduction to this article "more upbeat and jokey" and it suggested dropping in phrases like "hold on to your hats" and "AI bestie." (I declined to add them.) I also gave the new style matching feature a go. In a blank document, if you click the sliders icon on the Gemini bar, you can choose Match writing style to pick out an existing Google Doc. Your subsequent prompts for text generation will then match the style of the selected documents. You can choose where Gemini looks for importing data. Credit: Lifehacker When I pulled from my own work, Gemini was able to produce text that did read vaguely like I'd written it, but it was still rather stilted and, well, artificial. (That said, I could tell the difference from standard AI text.) For me, it's the ability to pull in information from elsewhere that makes this most useful, rather than the text generation capabilities. I told Gemini to connect to Google Drive and summarize everything I'd written for Lifehacker this year, and it did a respectable job: The doc was neatly formatted, informative, and (as far as I could tell) accurate. Gemini also has new features in Sheets, Slides, and DriveThe updates in Sheets and Slides are similar to Docs: You get a much more prominent Gemini prompt box, and the ability to import data from your other files, chats, and emails. I keep a text document of teams for our local five-a-side soccer matches, and tried to get Gemini to create a spreadsheet showing how often each player had shown up. It worked perfectly. Impressive stuff. I also tried to get Gemini to produce an entire spreadsheet around a fictional school sports day, and again it came up with results that I couldn't really fault. I could then apply edits to the demo spreadsheet with further prompts, and didn't have to bother with editing cells at all. The AI will sometimes ask you to approve a particular action, but it's mostly a smooth and straightforward process. Google suggests you could build a spreadsheet organizing a house move, for example, pulling in relevant emails and documents as needed. You can also use web or Google Drive searches to fill in data alongside relevant row and column headings—like the Oscar example mentioned earlier. You can plot the years across the top with an 'Oscar Best Picture Winner' heading, and Gemini does the rest. The Gemini integration inside Slides isn't quite as advanced yet, however. The ability to generate entire decks is still "coming soon" Google says. However, you can already pull in data from other sources and the web, match slideshow styles to an existing deck, and use prompts to tweak all aspects of your presentation. For me, this was still a bit hit or miss, with some odd formatting and text choices. As a Brit, the only upgrades I haven't been able to try out myself are the Gemini upgrades for Google Drive interface. Unlike the other updates, these are only available in the U.S. for the time being. Based on Google's information and the demos I've seen, you can think of these upgrades as AI Overviews for your cloud storage rather than the web as a whole. This school sports day never happened: Gemini made it up. Credit: Lifehacker That means you can ask natural language questions about whatever's in your Google Drive, questions like "how many times have I written about Gemini in 2026?" for example. Google's own example is selecting a bunch of tax documents and asking Gemini for questions you should give your tax advisor about them. My gripes about AI-generated text and the erosion of our abilities to write aside, these upgrades do seem genuinely useful. They promise to reduce the time you spend on simple and repetitive tasks, and make creating files with information from your other Google apps (or the web at large) much more straightforward. View the full article

At the turn of the 20th century, the steel magnate and philanthropist Andrew Carnegie donated $5.2 million to New York to build libraries across the city. Leading architects of the time designed the branches, 67 in all, to look and function like civic temples with elaborate Beaux-Arts detailing, welcoming entrances, dignified reading rooms, and open stacks where patrons could freely browse. They quickly became important, and beloved, neighborhood establishments and remain so today. After more than a century of use, and ad hoc upgrades and adaptations that are also dated, the buildings are due for upgrades. Last year, the New York Public Library (NYPL) completed a $176 million renovation of five Carnegie Libraries in The Bronx, Manhattan, and Staten Island. They’re pilots of Carnegie renovations to come. Spearheaded by the architecture firms Mitchell Giurgola, which also developed design standards for the renovations, and CannonDesign, the climate-sensitive and community-informed transformations are models for balancing historic architecture and contemporary use. “The buildings are such a part of the fabric of the community and we wanted to double down on that,” says Kerry Gould, director of capital planning at NYPL. “They needed love, and they got it.” A new approach for old libraries Public libraries are the rare institutions with near-universal approval. According to a Pew study, 94% of Americans age 16 or older believe libraries improve quality of life. Perhaps because of this, the city has entered another golden age of architectural invention around them. Affordable housing crowns branches in Sunset Park, Inwood, and Grand Concourse; a recently completed branch in Greenpoint, which replaced a too-small library dating from the 1970s, doubles as an environmental education center; and a glimmering composition by the local artist José Parlá envelops the new Far Rockaway branch. But ground-up contemporary buildings are only part of the story. The Carnegie renovations underscore how a preservation-focused approach can modernize the system while protecting important neighborhood landmarks and community anchors. As aging Carnegie Libraries become Apple stores, comedy clubs, and boutique hotels, or simply deteriorate until demolition is a foregone conclusion, New York is figuring out how to keep them—and keep them relevant. “In architecture, ‘historic character’ used to be just about culture and preservation, and I think that’s really important,” says Carol Loewenson, an architect and partner at Mitchell Giurgola. “But saving what you have is also the most sustainable thing you can do. The continuity of old, new, and future is really what makes New York, and any place, thrilling.” Carnegie libraries then and now New York City has 216 library branches, which are managed by three systems: NYPL is responsible for 88 locations in Manhattan, the Bronx, and Staten Island. (The Brooklyn Public Library oversees the borough’s 62 locations and the Queens Public Library has 66 outposts within its jurisdiction.) Of the 39 Carnegie Libraries originally within NYPL’s remit, 30 are still in operation. They face similar issues related to operations and relevance. To wit: They were constructed before the Americans with Disabilities Act; before teens, who are avid patrons, were considered a distinct age and cultural group (until the 1940s, you were either a child or an adult); and before climate change became an urgent issue. And while libraries maintain a mission to advance knowledge and strengthen communities, these institutions today do a lot more than circulate books; they serve as emergency cooling and warming centers, technology hubs where patrons can access computers and 3D printers, and more. Because there are so many Carnegie Libraries in the city, the NYPL decided to approach their renovations systematically. Design standards could ensure stylistic consistency across the upgrades. It’s also practical: the more uniform the building management systems are, the easier repairs and maintenance are since crews have familiarity with the equipment. The standards include specifications for lighting, bookcases and millwork, circulation desks, how to integrate modern heating and cooling infrastructure, and methods for creating flexible-use space. Before implementing these design standards, the NYPL handled Carnegie renovations differently. While the exteriors remained the same, interior overhauls looked like they belonged to different buildings. Renovations and repairs happened piecemeal as equipment reached the end of their useful life, and modifications accumulated to the point where changes obscured the buildings’ spirit. “Very often we are doing necessity repairs and you’re sort of cobbling things together,” Gould says. Despite needing upgrades, the original Carnegie buildings were innovative a century ago and remain hallmarks of good library design today thanks to their large windows that bathed interiors in daylight, spacious reading rooms with high ceilings, a central circulation desk, natural materials, and movable furniture. “It seems so obvious, but people don’t always get it right with libraries,” Loewenson says. “And those fundamentals really do work. We’re doing an academic library right now and I just intuitively use the Carnegie standards and principles, and it just nails it. It’s kind of amazing.” The architects emphasized those details while introducing energy efficient building systems (like triple-pane windows and sensor-operated environmental controls), amenities to better serve library patrons (like teen rooms), and improved accessibility (like adding elevators and ramps). Additionally, the library commissioned artwork that connects to each branch’s respective community, based on intel from engagement sessions. Site-specific solutions Each Carnegie library is different—some are freestanding structures, some are mid-block, and their sizes vary. While design standards informed the top-level approach for the renovations, “it’s not a one-size-fits-all kind of thing,” Loewenstein says. “You first figure out what you’ve got and then what the needs are and then you start adjusting.” Historic preservation rules often informed how the architects approached the renovations. At 125th Street, a McKim, Mead & White branch dating to 1904, no additions could be visible from the street, which nixed moving all the mechanical systems to the roof. So instead, the team at CannonDesign, who oversaw this branch’s renovation, hunted for opportunities to make space inside. Caretaker apartments originally occupied the top floor of Carnegie Libraries (someone needed to feed the coal furnaces 24/7) and over time, these rooms became convenient locations for HVAC equipment. Meanwhile, air handlers and ductwork have become smaller and more efficient since they first went into the libraries. Because of this, the architects could condense the systems into a compact footprint and turn some of the back-of-house areas into public space. At 125th, they were able to squeeze a teen area as well as staff offices into the top floor. Now people, not just machinery, get to enjoy the dramatic double-height level illuminated by clerestory windows. “When we went into the design phase of these libraries, the amount of potential on the top floor, it was just incredible to see,” says Dan Sheen, an architect at CannonDesign. “It was about taking advantage of what was given to us and running iterations until we finally got to a point where it’s like, okay, this represents a modern space, but also pays homage to the original design when it was in its prime, too.” Indeed, the renovated Carnegie Libraries look more like themselves, just better. They also perform at a higher level than before. The Port Richmond branch, designed in 1905 by Carrere & Hastings, architects of the NYPL’s famed Fifth Avenue flagship, is now LEED Silver certified. Sheen and his team looked to Passive House design strategies to retrofit the building, including modifying the masonry walls (they installed mineral wool insulation and a smart vapor barrier on the inside face) and triple-pane wood windows for a tight thermal seal. The Port Richmond reading room featured a slightly arched ceiling with ornamental crown moldings, which Sheen wanted to highlight. Instead of suspending a tangle of sprinkler systems, ductwork, and other life safety systems from the ceiling, he decided to drop the ceiling 12 inches and hide the infrastructure above it. The team consulted original drawings and also 3D scanned the detailing in order to faithfully recreate it. Similarly, they also hid infrastructure behind walls, effectively shrinking the space by six to eight inches on each side. Loewenstein and her team used similar techniques at the Hunts Point location, a Carrere & Hastings building from 1929. “There was more time in the design phase spent on what you don’t see, what’s hidden behind these walls than what the actual visitor experience is,” Sheen says. And instead of visually hefty rows of fluorescent lighting illuminating the reading rooms, there are now halo-like LED pendants throughout. Because the Carnegie Libraries are on the smaller side, figuring out how to accommodate new uses was a challenge. At the Hunts Point library, Mitchell Giurgola integrated folding glass walls and doors into the reading rooms to define space while maintaining visual cohesion and daylight. At the Melrose branch—which suffered a fire in the 1940s that reduced the four-story building to two—Mitchell Giurgola was able to construct a new level that’s dedicated to children. Since few original architectural details remained here, the design team integrated more contemporary elements, like floor-to-ceiling glass walls. Artwork was another important site-specific element for the renovations. NYPL hosted community engagement sessions with patrons to learn about what was most important to them and through this, they learned that the community around the Port Richmond branch, which is predominantly Hispanic, felt an affinity to butterflies and so a newly commissioned mural features the motif. “It really brings that sense of identity to the branch,” Gould says. The future of NYC library renovations The standards Mitchell Giurgola developed aren’t limited to the Carnegie Libraries. The design principles are relevant across the system, and so NYPL is using them to guide renovations across structures with different pedigrees. Gould is currently working on an overhaul of the Edenwald library, a 1970s structure in the Bronx. It’s a squat “Lindsay Box,” the nickname for the inexpensive modular libraries constructed during the John V. Lindsay administration, with tiny windows. Gould plans to open the facade and better connect the interior to the neighborhood. “We’re using a lot of the same themes, like access to natural light,” she says. With the five renovations now complete, NYPL hopes to receive additional capital funding from the city in order to modernize more Carnegie branches. “We want them to last for another hundred years,” Gould says. “As part of the fabric of New York, we think it’s just important to be stewards of these buildings and elevate them to what we think the public deserves. View the full article

Treasury yields look oversold after a rough week, but technical patterns still point to a broader uptrend that could push the 5- and 10-year closer to 5%, according to the head of correspondent business development at AD Mortgage. View the full article

President Donald The President said Sunday that he has demanded about seven countries send warships to keep the Strait of Hormuz open, but his appeals have brought no commitments as oil prices soar during the Iran war. The president declined to name the countries heavily reliant on Middle East crude that the administration is negotiating with to join a coalition to police the waterway where about one-fifth the world’s traded oil normally flows. “I’m demanding that these countries come in and protect their own territory, because it is their own territory,” The President said about the strait, claiming the shipping channel is not something the United States needs because of its own access to oil. The President spoke while answering reporters’ questions as he flew back to Washington from Florida aboard Air Force One. The President said China gets about 90% of its oil from the strait, while the U.S. gets a minimal amount. He declined to discuss whether China will join the coalition. “It would be nice to have other countries police that with us, and we’ll help. We’ll work with them,” The President said. Previously, he has appealed to China, France, Japan, South Korea and Britain. Iran’s Foreign Minister Abbas Araghchi earlier told CBS that Tehran has been “approached by a number of countries” seeking safe passage for their vessels, “and this is up to our military to decide.” He said a group of vessels from “different countries” had been allowed to pass, without providing details. Iran has said the strait is open to all except the United States and its allies. Araghchi added that “we don’t see any reason why we should talk with Americans” about finding a way to end the war, noting that Israel and the U.S. started the fighting with coordinated attacks on Feb. 28 during indirect U.S.-Iran talks on Iran’s nuclear program. He also said Tehran had “no plan to recover” the enriched uranium that is under rubble following U.S. and Israeli attacks last year. Countries are cautious after The President’s call U.S. Energy Secretary Chris Wright told NBC earlier Sunday that he has been “in dialogue” with some of the countries The President had mentioned previously, and said he expected China “will be a constructive partner” in reopening the strait. But countries made no promises. Britain said Prime Minister Keir Starmer on Sunday discussed with The President the importance of reopening the strait “to end the disruption to global shipping,” and spoke with Canada’s prime minister about it separately. Aboard Air Force One, The President specifically named Starmer, who he said initially declined to put British aircraft carriers “into harm’s way.” “Whether we get support or not, but I can say this, and I said to them: We will remember,” The President said. A spokesperson for China’s embassy to the U.S., Liu Pengyu, said previously that “all parties have the responsibility to ensure stable and unimpeded energy supply” and that China would “strengthen communication with relevant parties” for de-escalation. South Korea’s Foreign Ministry said it “takes note” of The President’s call and that it “will closely coordinate and carefully review” the situation with the U.S. Expectations are high that The President will ask Japan directly when Prime Minister Sanae Takaichi meets him on Thursday at the White House. France previously said it is working with countries — President Emmanuel Macron mentioned partners in Europe, India and Asia — on a possible international mission to escort ships through the strait but has stressed it must be when “the circumstances permit,” when fighting has subsided. Foreign Minister Johann Wadephul of Germany, which was not mentioned in The President’s call, told ARD television: “Will we soon be an active part of this conflict? No.” Meanwhile, emergency oil stocks “will soon start flowing to global markets,” the International Energy Agency said Sunday, describing the collective action to lower prices “by far the largest ever.” It updated last week’s announcement of 400 million barrels to nearly 412 million. Asian member countries plan to release stocks “immediately,” and reserves from Europe and the Americas will be released “from the end of March.” The President didn’t directly answer whether his administration is talking about selling oil futures as a way to cap surging oil prices. “The prices are going to come tumbling down as soon as it’s over. And it’s going to be over pretty quickly,” he told reporters. More missile and drone attacks are reported Gulf Arab states including the United Arab Emirates, Saudi Arabia, Kuwait and Bahrain reported new missile or drone attacks a day after Iran called for the evacuation of three major ports in the United Arab Emirates — the first time it has threatened a neighboring country’s non-U.S. assets. Dubai temporarily suspended flights at its international airport — the world’s busiest — after a drone hit a fuel tank and caused a fire. Civil defense crews contained the blaze and no injuries were reported, authorities said. Tehran has claimed that Friday’s U.S. strikes on Kharg Island, home to Iran’s primary oil terminal, were launched from the UAE, without providing evidence. It has threatened to attack U.S.-linked “oil, economic and energy infrastructures” if its oil infrastructure is hit. U.S. Central Command said it had no response to Iran’s claim, and Anwar Gargash, a diplomatic adviser to the UAE president, rejected it. Gulf countries that host U.S. bases have denied allowing their land or airspace to be used for military operations against Iran. Iran has fired hundreds of missiles and drones at Arab Gulf neighbors during the war, causing significant damage and rattling economies even as most are intercepted. Tehran says it targets U.S. assets, even as Iranian strikes are reported at civilian sites such as airports and oil fields. War’s toll mounts across the region Iranian strikes have killed at least a dozen civilians in Gulf countries, most of them migrant workers. In Iran, the International Committee for the Red Cross said more than 1,300 people have been killed. Iran’s Health Ministry said 223 women and 202 children are among the dead, according to Mizan, the judiciary’s official news agency. Iran’s government on Sunday showed journalists buildings damaged by strikes in Tehran on Friday. A police station was hit and surrounding buildings were damaged. Some apartments’ outer walls had been stripped away. “God had mercy on all of us,” said Elham Movagghari, a resident. Other Iranians are leaving the country. In Israel, 12 people have been killed by Iranian missile fire and more have been injured, including three on Sunday. At least 13 U.S. military members have been killed, six in a plane crash in Iraq last week. At least 820 people have been killed in Lebanon, according to its Health Ministry, since Iran-backed Hezbollah hit Israel and Israel responded with strikes and sent additional troops into southern Lebanon. In just 10 days, more than 800,000 people — nearly one out of every seven residents of Lebanon — have been displaced. More Iranian missile strikes hit Israel Israel’s military said early Monday that Iran launched missiles toward Israel. Earlier, several strikes hit central Israel and the Tel Aviv area, where they caused damage at 23 sites and sparked a small fire. Magen David Adom, Israel’s rescue service, released video showing a large crater in a street and shrapnel damage to an apartment building. Israel’s military says Iran is firing cluster bombs that can evade some air defenses and scatter submunitions across multiple locations. This version corrects to say Araghchi was speaking to CBS, not NBC as previously reported. Contributing were Associated Press journalists Darlene Superville, Fatima Hussein, Tia Goldenberg, Sally Abou AlJoud, Fadi Tawil, John Leicester and Christopher Weber. —Sam Metz, Will Weissert, Julia Frankel and Cara Anna, Associated Press View the full article

UK prime minister says Britain will not be drawn into ‘wider war’View the full article