Latest news with #Schindler
Business Insider
13-06-2025
- Business
- Business Insider
Gen Z shoppers are loving Google right now. That could be bad news for Amazon.
Amazon may have a new problem to keep it up at night: Google is increasingly popular with younger shoppers. New data from Morgan Stanley shows that 16-to-24-year-olds increasingly turn to Google for more of their online shopping journey. That's taking share away from Amazon, both when people set out to research products online for the first time and when they already have a specific product in mind. As of March 2025, 30% of those Gen Z shoppers who already know what they want to buy still go to Google first — an increase from 21% in September 2024, per Morgan Stanley's research, which analyzed behavior across Google Search, YouTube, and Gemini. While the share of other online destinations like Walmart and Facebook has shrunk, it's Amazon that's taken the biggest hit. It declined from 41% last September to 34% in March, the data showed. It's not totally clear why e-commerce Google searches are booming among younger users, though Morgan Stanley's analysts speculate Google's new generative AI tools may have something to do with it. Google has previously said it's seen higher engagement with AI Overviews from users age 18-24. During the company's Q1 earnings call in April, Google's chief business officer, Philipp Schindler, said that the volume of commercial queries on Google Search had increased with the launch of AI Overviews. Speaking on the same Q1 earnings call, Schindler also said that the number of people shopping using Google's Lens feature had grown 10%. Google has been all too aware of the risk of losing younger users. The company's former Search head, Prabhakar Raghavan, testified in 2023 that Google risked becoming irrelevant to youth, saying the company has been referred to as "Grandpa Google." While ChatGPT adoption is growing overall, it remains small when it comes to online shopping, suggesting Google may keep it at bay with its generative AI features.
Yahoo
12-06-2025
- Business
- Yahoo
United States Elevator and Escalator Market Forecast Report 2025-2030: Market to Reach 43,321 Units by 2030, Growing at 2.65% CAGR
Notable developments in the U.S. Elevator and Escalator Market include ATTA Elevators' U.S. expansion, Schindler's new MRL elevator, and OTIS's acquisition of Urban Elevator locations. The U.S. government's tariffs impact costs, affecting demand and favoring local manufacturing. AI integration and infrastructure investments create growth opportunities. Key players like Otis, KONE, and Schindler drive innovation amid rising public infrastructure spending. Challenges remain from tariffs and housing crisis effects on demand. U.S. Elevator and Escalator Market Dublin, June 12, 2025 (GLOBE NEWSWIRE) -- The "U.S. Elevator and Escalator Market - Size & Growth Forecast 2025-2030" report has been added to U.S. Elevator and Escalator Market was sized at 37,026 units in 2024, and is projected to reach 43,321 units by 2030, rising at a CAGR of 2.65%. Schindler, TK Elevators, KONE, OTIS, and Mitsubishi Electric are the top five vendors in the U.S. elevator and escalator market. Other prominent players in the U.S. elevator and escalator market are Fujitec Co., Ltd, Hyundai Elevator Co., Ltd., Delaware Elevator, Inc., Day Elevator & Lift, American Crescent Elevator Corp., Godwin Elevator Company, and others. These leading players continuously innovate to provide state-of-the-art technology, ensuring safety, efficiency, and sustainability. Recent Developments in the U.S. Elevator and Escalator Market In 2024, ATTA Elevators, a leading elevator and escalator service provider based in Ontario, announced its expansion into the U.S. with an office in St. Louis, Missouri. In April 2025, Schindler Elevator Corporation announced the launch of the Schindler 5000, which is a machine-room-less (MRL) elevator designed for low- to mid-rise offices, hotels, hospitals, and apartment complexes. This model is widely available in the U.S. market. In April 2025, OTIS announced the acquisition of eight of the eleven Urban Elevator locations in the US. KEY HIGHLIGHTS The U.S. elevator market by installed base is expected to reach 1.26 million units by 2030. Elevators used in the residential sector accounted for the largest share in 2024, despite low purchasing power due to high interest rates. The market is set to recover in 2025, pertaining to high government expenditure on construction projects. The machine roomless traction segment accounted for the largest market share due to its space-saving design, energy efficiency, and ability to support green building initiatives. The U.S. installed base escalators market is expected to reach 64.1 thousand units by 2030. Escalators used in the commercial sector accounted for the largest share in 2024 due to increasing retail projects in the pipeline. The parallel escalators segment accounted for the largest market share in 2024 due to the high construction of commercial buildings. The modernization market of the U.S. elevator and escalator market is expected to reach USD 3.23 billion by 2030. In Q1 2025, the American Society of Civil Engineers (ASCE) forecasted a total of USD 5.4 trillion in public and private infrastructure investments over the decade from 2024 to 2033. In addition, in 2025, the U.S. is witnessing significant developments in Smart City Construction. For instance, the Retired Homer City Generating Station is ready to be transformed into a natural gas-powered data center campus. In March 2025, Amtrak (National Railroad Passenger Corporation) stated that it will increase its expenditure by 50% to reach USD 6 billion in 2025. In April 2025, Ledcor Development initiated the construction of Alara, a USD 107 million apartment complex in San Diego's Grantville neighborhood. This development will introduce over 200 new residential units, aiming to address the city's increasing housing demand. US ELEVATOR AND ESCALATOR MARKET OPPORTUNITIES & DRIVERS Integration of Artificial Intelligence (AI) in the U.S. Elevator and Escalator Market is Expected to Create Future Opportunities The integration of AI in the U.S. elevator and escalator market reflects a growing trend in the modernization of urban infrastructure. AI-driven solutions enhance safety, efficiency, and user experience in public and private transportation systems. AI monitors real-time data from sensors installed in elevators and escalators to predict and prevent potential malfunctions. This reduces downtime and improves the reliability of equipment. Companies, such as KONE and Otis, have already implemented AI-based predictive maintenance globally, including in the United States. New Government Regulations and Technologies to Support the Demand for New Installations In New York City, a retroactive code mandated the integration of escalator skirt deflectors by January 1, 2025. These deflectors are designed to prevent objects like clothing or shoes from becoming trapped between the escalator steps and side panels, thereby enhancing passenger safety. Building owners and managers were required to ensure compliance by the specified date. In 2025, McGhee Tyson Airport announced it to replace its aging escalators. The airport's board awarded a USD 1.1 million contract in October 2024 to KONE, which will begin replacing the downward escalator in late 2025 and will replace the upward escalator in early 2026. Increasing Investment in Public Infrastructure Development Is Driving the Demand Public infrastructure projects increased by 6% through the first eight months of 2024 compared to the same period in 2023. Construction spending grew by more than 41% in the U.S. from April 2020 to July 2024. As of February 2025, total construction spending in the United States recorded an adjusted annual rate of $2.195 trillion. This includes both public and private sector investments across residential and non-residential projects. Major ongoing public infrastructure projects in the U.S., including the California High-Speed Rail, the Gateway Program (Hudson Tunnel Project), and expansions of major airports like JFK and O'Hare, along with various highway and rail projects, are projected to drive the demand for vertical transportation solutions over the forecast period and contribute to the U.S. elevator and escalator market growth. Increasing Investment in the Manufacturing Sector to Drive Demand for Freight Elevators in the U.S. Elevator and Escalator Market The value of U.S. manufacturing output has continued to increase, reaching almost USD 3 trillion in 2024 (equal to 10 per % of total GDP). In June 2024, government expenditure in the manufacturing sector was directed towards building new and expanding existing manufacturing facilities, which reached a new record of USD 238 billion. In March 2025, GE Aerospace planned to invest approximately USD 1 billion in its U.S. factories and supply chain to strengthen manufacturing. INDUSTRY RESTRAINTS Housing Crisis in the Country Hampering Demand The shortage has driven up home prices and rents, making housing less affordable and slowing down real estate activity. The median United States home price in January 2025 was $418,000, up around 45% from $289,000 five years ago. Low housing starts in the U.S. are directly impacting the development of residential projects, reducing demand for elevators and impacting the U.S. elevator and escalator market growth. In addition, large institutional investors are increasingly buying up properties, which is limiting options for individual buyers. Meanwhile, mortgage rates, which peaked at approximately 7% in 2025, have discouraged both buyers and sellers, limiting transactions and delaying developments. Surge in Building Material Prices In March 2025, the U.S. government imposed 25% tariffs on steel and aluminum imports, aiming to bolster domestic production. These tariffs have led to increased costs for construction materials, as builders rely heavily on these imports. Furthermore, in early 2025, non-residential materials prices increased at an annualized rate of 9%, reflecting a rush among builders to procure materials ahead of anticipated price hikes (post new tariffs). Meanwhile, in January 2025, prices also increased for all three energy subcategories, namely, crude petroleum prices increased 14.8%, while natural gas and unprocessed energy material prices increased 13.7% and 13%, respectively. US ELEVATOR AND ESCALATOR MARKET VENDOR LANDSCAPE Key Vendors Otis KONE TK Elevator Schindler Mitsubishi Electric Hyundai Elevator Fujitec Other Prominent Vendors MEI Total Elevator Solutions Delaware Elevator Day Elevator and Lift Liberty Elevator AVT Beckett American Crescent Elevator Manufacturing Access Elevator & Lifts, Inc. (AEL) Godwin Elevator Action Elevator Company Key Attributes: Report Attribute Details No. of Pages 123 Forecast Period 2024 - 2030 Estimated Market Value in 2024 37026 Units Forecasted Market Value by 2030 43321 Units Compound Annual Growth Rate 2.6% Regions Covered United States Elevator Market Segmentation by Machine Type Hydraulic and Pneumatic Machine Room Traction Machine Room Less Traction Others Climbing Elevators Industrial Elevators Carriage Type Passenger Freight Capacity 2-15 Persons 16-24 Persons 25-33 Persons 34 Persons and Above End-User Commercial Residential Industrial Others Public Transit Institutional Infrastructural Escalator Market Segmentation by Product Type Parallel Multi Parallel Walkway Crisscross End-User Public Transit Commercial Others Institutional Sector Infrastructure Industrial For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment U.S. Elevator and Escalator Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Express Tribune
03-06-2025
- Entertainment
- Express Tribune
Angelina Jolie and Brad Pitt's Daughter debuts new name at Los Angeles fashion event
Shiloh Jolie, the 19-year-old daughter of Brad Pitt and Angelina Jolie, introduced a new public identity at a fashion event in Los Angeles last week. Attending the launch of Isabel Marant's capsule collection with Net-A-Porter, Shiloh was credited as a choreographer for an original dance number—under the name 'Shi Joli,' a shortened moniker inspired by her mother's surname. The exclusive 'sunset dinner' took place at Schindler's Oliver House in the Silver Lake neighborhood. Shiloh's choreography was performed by dancers Tako Suzuki and Keoni Rose, accompanied by singer Luella's live rendition of 'Naïve.' In the event's press release, her name appeared as 'Shi Joli,' marking her first professional appearance using the shortened identity. Shiloh's appearance under the new name follows her legal decision to drop 'Pitt' from her surname on her 18th birthday in May 2024. The change was made official in August, with sources confirming that she independently hired a lawyer and financed the process herself, without input from Angelina Jolie. In a statement at the time, her attorney said the decision was 'independent and significant,' made in response to 'painful events.' Brad Pitt was reportedly 'aware and upset' when Shiloh made the change. A source told People that he 'always wanted a daughter' and has struggled with the emotional distance between himself and his children. 'He loves his children and misses them,' the source said. 'It's very sad.' Shiloh isn't the only sibling to distance themselves from Pitt's name. Zahara Jolie dropped 'Pitt' during her 2023 Alpha Kappa Alpha induction, and reports suggest Maddox Jolie has also avoided using 'Pitt' on non-legal documents. Pitt and Jolie, who finalized their divorce in 2024 after an eight-year legal battle, share six children.
Hindustan Times
03-06-2025
- Entertainment
- Hindustan Times
Angelina Jolie and Brad Pitt's daughter Shiloh gets a new name after dropping Pitt. Here's her new moniker
Angelina Jolie and Brad Pitt's daughter Shiloh made an unexpected appearance at an event in Los Angeles recently -- and it seems she made it to reintroduce herself after dropping her dad's last name. She introduced her new name. Also read: Brad Pitt breaks silence on divorce from Angelina Jolie post long legal battle: 'My personal life is always in the news' On May 29, Shiloh, who likes to keep her private life away from the spotlight, made an appearance at a dinner that celebrated the launch of fashion designer Isabel Marant's collection with Net-A-Porter, as per Variety. Shiloh, 19, served as a choreographer for musician Luella, who performed her newly-released single Naïve at the dinner with two dancers, Keoni Rose and Tako Suzuko, according to the press release about the event. Her new name was introduced in the release, which refers to Shiloh by a new name: 'Shi Joli'. The moniker that pays homage to her mother while shortening her legal name. The event was described as an 'intimate sunset dinner'. It was held at Schindler's Oliver House in the Los Angeles enclave of Silver Lake. Other attendees included Milla Jovovich, Alison Brie, January Jones, and Rachel Bilson. Shiloh famously requested to drop her father's last name on her 18th birthday in May 2024, a change which was made official in August. After a judge signed off on the ruling, Shiloh Nouvel Jolie-Pitt legally became Shiloh Nouvel Jolie. It is said that she has done the legwork on her own and did not involve Angelina in that. 'Shiloh hired her own lawyer and paid for it herself, so Angie doesn't know and can't speak for it,' a source told Entertainment Tonight at the time. In a statement in July to Page Six, Shiloh's attorney Peter Levine said that the teen made 'an independent and significant decision following painful events' in dropping 'Pitt' from her last name. Alongside Shiloh, Angelina, 49, and Pitt, 61, share five other kids -- Maddox, 23, Zahara, 20, Pax, 21, Knox, 16, and Vivienne, 16. Their divorce was finalised in December 2024 after an eight-year battle. In May, Brad Pitt broke his silence on finalising the high-profile divorce from Angelina. When asked by GQ if he experienced 'relief,' he said, 'No, I don't think it was that major of a thing. Just something coming to fruition. Legally,' he told the outlet.
Sky News AU
02-06-2025
- Entertainment
- Sky News AU
Brad Pitt and Angelina Jolie's daughter Shiloh debuts new moniker after dropping dad's last name
Shiloh Jolie has entered a new era. The daughter of Brad Pitt and Angelina Jolie, 19, appeared at the launch of Isabel Marant's capsule collection with Net-A-Porter Thursday in Los Angeles — and she dropped a new moniker for the occasion. In a press release obtained by Page Six, Shiloh was credited as choreographer for an original dance number at the event — but she was listed as 'Shi Joli,' a moniker that pays homage to her famous mother while shortening her legal name. The dance featured dancers Tako Suzuki and Keoni Rose and was accompanied by singer Luella's performance of 'Naïve.' The event, described as an 'intimate sunset dinner,' was held at Schindler's Oliver House in the Los Angeles enclave of Silver Lake. A-listers including Milla Jovovich, Alison Brie, January Jones, Rachel Bilson, and more were in attendance at the soirée. Shiloh, who is frequently spotted heading to dance class in Los Angeles, famously requested to drop her father's last name on her 18th birthday in May 2024 — a change that was made official in August. After a judge signed off on the ruling, Shiloh Nouvel Jolie-Pitt legally became Shiloh Nouvel Jolie. She was said to have done the legwork on her own — without involving the 'Eternals' actress. 'Shiloh hired her own lawyer and paid for it herself, so Angie doesn't know and can't speak for it,' a source told Entertainment Tonight at the time. In a July statement to Page Six, Shiloh's attorney Peter Levine said in part that the teen made 'an independent and significant decision following painful events' in dropping 'Pitt' from her last name. Shiloh isn't the only of her famous siblings to have dropped the name following their parents' split and bitter divorce, which was finalized in December 2024 after an eight year battle. When Zahara Jolie-Pitt, 20, declared herself at Alpha Kappa Alpha's sorority induction ceremony at Spelman College in 2023, she shouted, 'Zahara Marley Jolie' in video of the event that circulated via social media. Amid the famous actors' custody dispute in 2021, a source claimed to Us Weekly that their oldest child, Maddox, 'doesn't use Pitt as his last name on documents that aren't legal and instead uses Jolie. Maddox wants to legally change his last name to Jolie, which Angelina has said she doesn't support.' Pitt, 61, and Jolie, 49, who wed in 2014, welcomed Shiloh on May 27, 2006, and her twin siblings Knox and Vivienne on July 12, 2008. Pitt officially adopted Jolie's adopted children Maddox, 23, and Zahara in 2005, and Pax, 21, in 2006. The 'F1' actor was said to have been 'aware and upset' when Shiloh legally dropped his last name. 'He's never felt more joy than when she was born,' an insider told People in June 2024. 'He always wanted a daughter.' 'The reminders that he's lost his children is, of course, not easy for Brad,' they continued. 'He loves his children and misses them. It's very sad.' In May, Pitt broke his silence on finalizing the high-profile divorce from Angelina. When asked by GQ if he experienced 'relief,' he said, 'No, I don't think it was that major of a thing. Just something coming to fruition. Legally,' he told the outlet. Originally published as Brad Pitt and Angelina Jolie's daughter Shiloh debuts new moniker after dropping dad's last name
