Business

The Trump administration has launched a broad initiative to reduce government spending on consulting services, and Deloitte appears to be the hardest hit among major firms. Recent reports indicate that over 120 of Deloitte’s federal contracts have been canceled or downsized—twice the number of any other consultancy. This crackdown is part of a larger effort to scrutinize consulting expenditures, affecting other major players such as Accenture, IBM, and Booz Allen Hamilton. Collectively, these firms were projected to earn billions from federal contracts in the coming years. However, the administration’s new policies could lead to a significant reduction in these anticipated earnings, with government agencies aiming for savings between 25% and 30%. Among the most affected sectors are the Departments of Education, Health, and the IRS, where Deloitte’s canceled contracts alone have reportedly saved taxpayers hundreds of millions. The administration has emphasized performance-based contracts, requiring firms to clearly justify their services and billing structures. As a result, uncertainty has grown among employees at Deloitte and other consulting firms, with potential job cuts looming. Some companies have already started adjusting internal policies and tightening project allocations in response to the changing landscape. While some critics argue that these cuts could disrupt essential government services, supporters view them as a necessary step toward reducing excessive spending and improving efficiency in federal operations.

March 30 (Reuters) – Volvo Cars (VOLCAR Rowan’s exit comes only about three years after his appointment in January 2022, which followed Volvo’s listing on the Stockholm Stock Exchange in 2021. “We are very pleased to welcome Hakan Samuelsson back as CEO,” Eric Li, Volvo Cars chairman of the board, said in the statement. Li said the company was facing fast-moving technological shifts, growing geopolitical challenges, and intensifying competition. “He brings a rare combination of industrial depth, strategic clarity, and proven leadership and Hakan has a broad knowledge of our group,” Li said.b.ST), opens new tab has reappointed Hakan Samuelsson, who served as CEO of the company from 2012 to 2022, as chief executive, after the group warned last month that it could be in for a challenging 2025. Samuelsson, 74, will succeed Jim Rowan, who will step down on March 31. Samuelsson will serve a two-year term while the group prepares to appoint a long-term successor, it said in a statement on Sunday. Last month, Volvo Cars, majority-owned by China’s Geely, warned that 2025 would be a tumultuous and competitive year during which it might struggle to match its 2024 sales performance and profitability. Geely Sweden, which manages the group’s investments in the European brands such as Polestar and Volvo Cars, declined to give further comment.

Investors are buckling up for a potentially bumpy ride as a critical week for markets and the economy kicks off, with reports indicating President Donald Trump’s trade war could soon get even more intense. Dow futures were down 170 points, or 0.41%, while S&P 500 futures fell 0.77% and Nasdaq futures sank 1.4%. That follows Friday’s selloff that saw the broad market index sink 2%. The yield on the 10-year Treasury bond slipped 5.9% basis points to 4.196%. Tariff news dominated the weekend and indicated more escalation is ahead. On Sunday, sources told the Wall Street Journal that Trump has pushed his advisers to get more aggressive on tariffs, including higher rates on a wider set of nations. One option under consideration in recent days is a global tariff of up to 20% that hits nearly all US trading partners, reviving an idea Trump floated on the campaign trail. A 20% rate would further up the ante. Fitch Ratings earlier estimated that if Trump carried out all his previously announced plans, the effective US tariff rate could hit 18% on average—the highest level in 90 years.  Reciprocal tariffs, where the US matches duties or trade barriers from other countries, are still an option too, according to the Journal, but one source that said Trump wants a “big and simple” policy. That suggests the eventual tariff policy will be broader than Treasury Secretary Scott Bessent’s “dirty 15” plan to set tariffs on the 15% of countries that the administration considers the worst trading partners. The White House didn’t immediately respond to a request for comment. Similarly, the Washington Post reported on Saturday that Trump is considering a single universal tariff as part of an effort to fundamentally transform the US economy. That means most imports would face the same rate no matter which country they are from, the report said, adding that Trump views a single duty as less likely to be watered down by exemptions. Intense discussions are ongoing ahead of Wednesday, which Trump has billed as “Liberation Day,” when his next batch of tariffs will be unveiled.

Meta stands to be the big winner in the event of a TikTok ban. Dive Brief: Dive Insight: Despite the sell-off deadline of April 6 fast approaching, there is still a major sense of uncertainty for marketers as TikTok hasn’t negotiated with potential buyers. However, President Donald Trump indicated he will most likely provide an extension for TikTok if a deal is not reached by then. Additionally, the administration has indicated it is in talks with four groups about the potential sale. TikTok stands to lose billions of dollars in ad revenue if a U.S. ban is enacted, according to a WARC report. The money would likely trickle down into American companies, such as Google and Meta. If TikTok does go dark permanently in the U.S., Meta is predicted to absorb 55% of its ad spend. Platforms with short-form video options, such as YouTube and Instagram, stand to benefit the most. While the U.S. remains the largest market for the app, the country’s share of total ad revenue for the platform has steadily declined over the past five years. By 2026, the U.S. is predicted to make up 34% of TikTok’s ad revenue, down from 43.3% in 2022. However, if a ban is avoided the app is predicted to earn $13.4 billion in ad revenue from the U.S. in 2026. TikTok is the fifth most popular app globally, jumping to the second most popular app when just considering women between the ages of 16 and 24. Its ad reach is predicted to be 1.59 billion users, with users globally averaging 35 hours a month on the app. U.S. users spend an average 44 hours per month on the app, exceeding the global average. This far exceeds the monthly usage of other platforms and is more than double the average usage of Instagram. Courtesy MarketingDive

CLEVELAND, March 11, 2025 /PRNewswire/ — Tiger Pistol, the most advanced local advertising platform, today announced the release of its latest resource for marketing resellers, Scaling SMB Advertising: A Marketing Reseller’s Guide to Efficiency, Profitability, and Growth. This essential playbook outlines strategies for marketing resellers to streamline operations, scale local advertising programs, and increase profitability through automation and efficiency. According to the 2025 Small- and Medium-sized Businesses (SMBs) Marketing Survey by Taradel, 94% of SMBs plan to maintain or increase their digital marketing investments in 2025, yet 41% spend less than $500 per month on advertising. Marketing resellers who offer scalable, cost-effective advertising solutions are in a prime position to capture this demand, helping SMBs maximize budget efficiency while driving measurable results. Tiger Pistol’s latest playbook provides a roadmap for resellers to expand their services, improve operational efficiency, and deliver high-performing campaigns at scale. SMBs are leaning into digital advertising, but they need solutions that match their resources and goals. Marketing resellers who embrace automation and scalable ad strategies will be the ones who win—both in customer retention and revenue growth,” said Sarah Cucchiara, VP of Business Development at Tiger Pistol. “This playbook breaks down the exact steps resellers need to take to streamline operations, improve efficiency, and deliver results-driven campaigns at scale. “Source – PR Newswire