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CARFAX reports significant risks associated with flood-damaged vehicles as Hurricane Laura potentially impacts up to 5,000 cars. In total, 446,836 flood-damaged vehicles are currently on U.S. roads, primarily in Texas, which leads with 98,400 such vehicles (+13% from 2019). Consumers are advised to use CARFAX's free Flood Check® tool to identify affected cars, as these vehicles can cause serious mechanical failures. With rising numbers in various states, the need for consumer vigilance is critical.
The Paychex | IHS Markit Small Business Employment Watch report for August reveals that small business hiring remains flat since April, despite notable wage growth. Hourly earnings growth maintained at 3.28%, with weekly earnings also improving due to increased hours worked. The national jobs index is at 94.39, reflecting a 0.21% decrease from the previous month. The West and South regions reported declines in employment growth, with Florida leading states in employment despite a significant downturn. For detailed insights, visit Paychex.com.
CARFAX and Primeritus Financial Services have amicably resolved their dispute regarding data access through myCARFAX, which was pending in U.S. District Court, Virginia. Both companies maintain strong positions related to their claims but decided resolving the matter was in their best interests. They look forward to strengthening their long-standing business relationship.
About CARFAX: CARFAX, part of IHS Markit (NYSE: INFO), provides vehicle history information, helping millions shop, buy, and sell used cars.
automotiveMastermind, part of IHS Markit (NYSE: INFO), announced the integration of pre-owned vehicle functionality with the Manheim Market Report (MMR) into its Market EyeQ platform. This enhancement aims to improve sales opportunities by offering accurate valuations from MMR, which relies on statistical analysis of wholesale vehicle transactions. The update is timely, addressing challenges dealers face due to COVID-19. The enhancements empower dealers to better match consumers with relevant offers, especially as pre-owned vehicle sales exceed expectations amid new vehicle inventory shortages.
The Paychex | IHS Markit Small Business Employment Watch report for July indicates a moderation in employment growth due to rising COVID-19 cases in the South and West. The national jobs index decreased by 0.24% to 94.59. Hourly earnings growth slowed to 3.29%, while weekly earnings grew by 4.14%, driven by increased hours worked. Florida remains the top state for employment growth, despite a 0.44% decline. The Financial Activities sector showed improvement, contrasting with declines in other sectors and regions like Seattle, which saw a 1.89% decrease.
CARFAX has launched new television advertisements aimed at helping used car shoppers avoid overpaying, which research indicates can average around $500. The ads emphasize CARFAX.com as the premier platform for vehicle history and pricing accuracy. The new campaign, featuring the character Car Fox, showcases the value of CARFAX's History-Based Value tool, utilized by thousands of dealers. The advertisements began airing recently and aim to educate consumers about their purchasing decisions while reinforcing CARFAX's commitment to transparency in the used car market.
Cassini Systems and IHS Markit (NYSE: INFO) have announced a partnership to integrate advanced margin estimate calculations within the thinkFolio platform. This collaboration aims to automate pre-trade analytics for OTC and exchange-traded derivatives, helping portfolio managers select cost-effective margin options. In the wake of global regulatory changes like EMIR and Dodd-Frank, this partnership enhances compliance and decision-making for investment firms. The integrated solution is designed to add transparency to margin and collateral costs, benefitting users by optimizing their trading strategies.
automotiveMastermind, a subsidiary of IHS Markit (NYSE: INFO), has appointed two new executives and promoted one to enhance its leadership team. Charity Taylor joins as VP of Data Analytics, bringing over 20 years of automotive experience, while Matt Leone becomes COO, contributing his SaaS expertise. Tomy Szczypiorski has been promoted to VP of National Enterprise Accounts. These strategic moves aim to strengthen the company's operational efficiency and product development, enhancing value for dealer partners as they expand their offerings in predictive analytics.
In June 2020, the Paychex | IHS Markit Small Business Employment Watch reported steady employment growth with a jobs index of 94.81, down just 0.06%. Notably, weekly earnings increased by 4.02% year-over-year, while annualized growth in weekly hours worked surged to 8.28%. Regionally, the Northeast saw a 4.40% decline in employment growth, with Arizona and Florida leading in job growth. The Leisure and Hospitality sector experienced significant wage gains, highlighting economic recovery as businesses reopened amid the pandemic.
