Latest news with #CWT
Travel Weekly
23-06-2025
- Business
- Travel Weekly
American Express Global Business Travel
2024 sales: $30.48 billion Previous ranking: 3 Employees: 18,000 666 Third Ave., Fourth Floor New York, New York 10172 Phone: (212) 329-7200 Website $30.48 billion18,000666 Third Ave., Fourth FloorNew York, New York 10172Phone: (212) 329-7200 Executives CEO: Paul Abbott PRESIDENT: Andrew Crawley CFO: Karen Williams COMPANY FACTS * Publicly held company. * A software and services company for travel, expense and meetings and events. DEVELOPMENTS * Entered into a definitive agreement to acquire CWT, which it expects to be completed by the end of 2025 after meeting customary closing conditions, including regulatory approvals. * Its Egencia solution was recognized as a software leader with 19 badges at the G2 awards. * Featured more than 20 carriers in its NDC program with that content available to more than 15,000 customers; it processed almost 1 million NDC tickets across 16 point-of-sale countries. * Streamlined spend management for small-to-midsize enterprises. New AmEx and Amex GBT integration provides better visibility and control over employee spend, including budgeting, purchasing with virtual cards, booking business travel and streamlined expense processing. * Made progress internally and externally with agentic technology. * Continued investing in proprietary AI architecture to scale initiatives with appropriate data privacy and governance; created an AI initiative to increase focus on driving purposeful innovation and greater efficiencies for clients and the business travel ecosystem. * Launched GenAI use cases in finance, product engineering and servicing, including large language models-driven chat functionality for Egencia in 18 countries. * Built an emissions-based carbon pricing solution, helping customers to create a self-supporting fund for sustainability initiatives and incentivizing more sustainable economic decisions. LOOKING AHEAD * Working to integrate travel, expense and payments to deliver an easier experience. * Investing in tech and features such as GenAI to offer options and create a one-stop platform. * Integrating AI further into its platforms to optimize customer interactions, predict travel disruptions and provide more personalized recommendations. * Building AI into customer experience flows and preparing human counselors with contextual information about travelers and their needs. * Launching new thought leadership to help small-to-midsize enterprises grow. * Company believes that the business travel industry has been resilient, even in challenging macroeconomic conditions. Business travel has consistently grown with or above gross domestic product, and it helps facilitate trade by enabling personal interactions and connections that are invaluable for negotiating deals and ensuring smooth operations across borders. * Among the trends it's watching: Distributed teams and hybrid work models will further become norms, creating new demand for business travel and meetings and events. According to the Flex Report Q4 2024, 68% of U.S.-based firms offer some form of workplace flexibility, reinforcing a long-term shift away from in-office mandates. * Its 2025 meetings and events forecast predicts internal meetings will continue to be the most frequent meeting type. In a survey of the company's top 100 customers, 66% said their budgets for meetings and events are increasing this year. * Businesses will focus more on Gen Z employees' experiences and needs since that age group will represent an ever-larger proportion of the workforce (and traveling workforce) over the next five years. To attract and retain talent and future-proof strategies, it will be important for businesses to understand Gen Z's feelings and expectations about traveling for work.
Travel Weekly
23-06-2025
- Business
- Travel Weekly
Introduction to the 2025 Power List: this year's biggest sellers of travel
The travel industry's remarkable stability is displayed in the Power List, an annual collection of the world's biggest sellers of travel. Inflation, market growth and confidence in travel have steadily raised both the volume and rates for travel products over time, increasing agencies' overall sales totals. So when the invitation for agencies to complete the Power List survey went out in early March, Travel Weekly once again set a higher threshold for inclusion. The global annual sales baseline was raised from $110 million in last year's List to $125 million. Methodology How the 2025 Power List was created. Continue Reading Seventy companies reported that they exceeded that threshold, with 26 achieving more than $1 billion in sales. There was very little movement in rank among the listed companies, which accounted for more than $450 billion in sales. About half reported growth rates of 3% to 15% from 2023 to 2024. Making the biggest leap in the ranking was Austin, Texas-based host company Departure Lounge. It reported a 63% increase from 2023, to $340 million in 2024, to move from No. 55 to a tie for No. 47. It added 112 advisors, including 30 new to the industry, and expanded its international footprint to propel its growth. Mergers that have been announced but didn't close in 2024 are not reflected in the list. The biggest -- No. 3 American Express Global Business Travel's acquisition of No. 6 CWT -- is expected to close by year's end. But TravelPerk (not listed last year) acquired Amtrav to land at No. 17 on this year's list. Newcomers on the list include U.K.-based Gray Dawes Travel, No. 33 with $668 million in sales, and Miami-based Brickell Travel, tied at No. 56, with $230 million. Returning from a one-year absence is Travelink, No. 69, with $126.9 million. Companies that returned the survey but reported sales just under the new threshold were Marvelous Mouse Travels, Largay Travel and Open Network Exchange. What Power Listers said In their Power List questionnaire, agencies were asked to provide details on their accomplishments, plans and outlook. Nurturing AI technology for both internal and customer-facing work was by far the most frequently mentioned development. Expanding NDC connections to provide more choices and cheaper fares was another often-cited priority. Consumer concerns being addressed by travel companies include costs, sustainability and travel complexity and risk. Providing robust round-the-clock support for customers when their travel plans are disrupted was another top-of-mind goal many companies mentioned. So, too, was advancing sustainability efforts. In trying to forecast the rest of 2025, one company mentioned a "choppy" macro environment. Another stated that "the current climate of uncertainty gives pause." One agency lamented that "geopolitical events, fuel prices and potential disruptions may create volatility in global travel patterns." International travel remains strong but will "shuffle and shift," another observed. A "cautious optimism" about the rest of the year was the most common refrain when companies described their outlook in late March and early April, when responses were collected. Whether pursuing AI's potential, grappling with evolving customer sentiment or bracing for potential impacts of government policies and macroeconomic forces, those on the Power List expressed confidence and steadiness -- with the ability to be nimble to recognize needs and implement changes. Contributing editor Paul Szydelko compiled and edited the 2025 Power List.
India Today
19-06-2025
- Science
- India Today
Samudrayaan: NIOT to conduct controlled water trials, crew sphere getting ready
India's ambitious Samudrayaan mission is gearing up for a crucial phase, as the National Institute of Ocean Technology (NIOT) prepares to conduct a second series of harbour tests in Controlled Water Trials (CWT) are aimed at further validating the country's first indigenous deep-sea submersible systems. The next round of tests will prominently feature a newly integrated titanium exoskeleton, a significant leap in the vehicle's design and safety profile, according to NIOT Director Prof Balaji The Matsya-6000 submersible, centerpiece of the Samudrayaan mission, is designed to carry a three-member crew to depths of up to 5,000 meters for deep ocean exploration. Earlier this year, the NIOT successfully completed the maiden harbour wet test at Kattupalli Port near Chennai, which included both manned and unmanned dives to assess the submersible's power, control, flotation, stability, and life support initial trials validated the core design, but also highlighted areas for improvement, particularly as the mission moves toward deeper and more demanding underwater upcoming second wet test will focus on the integration and performance of the new titanium exoskeleton, which is expected to enhance the submersible's structural integrity and resilience under extreme titanium personnel sphere, being developed in collaboration with Isro, is undergoing advanced welding processes at the Vikram Sarabhai Space Centre, a technological feat given the sphere's 80 mm thickness and the need to withstand pressures found 6,000 meters below sea level. NIOT completed the maiden harbour wet test at Kattupalli Port near Chennai. (Photo: NIO) advertisementWelding and fabrication of this critical component are progressing, with plans for rigorous pressure testing in Russia to ensure safety and officials emphasise that these controlled water trials are essential for understanding the real-world performance of indigenous systems and for validating the integration of new technologies before attempting deeper results will inform final preparations for the mission's landmark 500-meter and eventual 5,000-meter crewed dives, aiming to place India among the select nations capable of deep-sea human Watch
Yahoo
30-05-2025
- Business
- Yahoo
California Water to Acquire Casa Loma Water and Palm Mutual Water Utility Assets
The main subsidiary of California Water Service Group (NYSE:CWT), California Water Service (Cal Water), has signed contracts to buy the water utility assets of Palm Mutual Water Company and Casa Loma Water Company. An aerial view of an expansive reservoir and surrounding landscape supplying the utility's water. Casa Loma is located three miles from Cal Water's Bakersfield Operations Center and provides service to roughly 900 residents through 248 customer connections. Palm Mutual serves 63 residential clients and is situated two miles from Cal Water's Northeast Bakersfield Treatment Plant. The approval of the California Public Utilities Commission and other closing requirements are still pending for both purchases. California Water Service Group (NYSE:CWT)'s Cal Water already has an intertie with the Casa Loma system, which enables uninterrupted water delivery following acquisition. Cal Water intends to improve system infrastructure and add new connections. Palm Mutual is currently supplied by a Cal Water master meter because it does not have its own water supply sources. Cal Water plans to improve service quality by investing in infrastructure renovations. CEO Martin A. Kropelnicki of California Water Service Group (NYSE:CWT) stressed customer safety and service excellence, commenting: 'We look forward to providing our new customers the high level of service we provide to our other Bakersfield customers.' Cal Water employs 1,200 people who are dedicated to honesty, sustainability, and infrastructure, and it provides services to 2.1 million people through around 500,000 connections. While we acknowledge the potential of CWT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CWT and that has 100x upside potential, check out our report about this READ NEXT: and . Disclosure. None. Error 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
Yahoo
01-05-2025
- Business
- Yahoo
California Water Service Group: Q1 Earnings Snapshot
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — California Water Service Group Holding (CWT) on Thursday reported first-quarter net income of $13.3 million. On a per-share basis, the San Jose, California-based company said it had profit of 22 cents. The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share. The water utility posted revenue of $204 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on CWT at Sign in to access your portfolio
