MIAMI, Oct. 2, 2020 /PRNewswire/ — A revamped private label CBD service company, publicly-traded under OTC: TNRG, The Hemp Plug, reduces production time of custom CBD products by 40%, giving CBD brands the ability to create their own unique products in less time than ever.

Businesses can now conceptualize their own unique CBD products, tapping into untapped markets, and gaining a competitive edge in the growing CBD market.

An industry leader in white label CBD services, The Hemp Plug (THP), has recently shifted focus to their private label CBD service, optimizing their product customization service. As part of their revamp, THP has added a new team dedicated solely to private label CBD services. This team is responsible for facilitating communications between the lab and business in order to reduce production time.

Through their efforts, THP has reduced the CBD product creation process from consultation to completion by 40 percent.

Along with an improved production time, businesses that have not traditionally had the means to test and manufacture new concepts now have the ability to lean on THP’s expertise and resources to create proprietary products that can be sold exclusively by their brands.

With the industry still growing, private label CBD services make it possible for brands to develop new and exciting niche products that stand out among the more common offerings of CBD oils, edibles, and smokables.

“At THP, we’re in the business of helping CBD brands find success in the industry. With our revamped private label CBD services, we can help our clients cash in on first-mover advantage with their original concepts, collaborating on never-before-seen products with custom ingredients, flavors, and packaging. We’re excited to see how these new and out-of-the-box ideas can shape the future of the industry.” said Adam Levy, CEO of The Hemp Plug.

Canadian public pension funds scooped up private debt as market upheaval from Covid-19 left borrowers willing to offer appealing terms.

Their private debt allocations ticked up more than 5% to $46.9 billion between Dec. 31 and Sept. 20, according to Preqin data. It was the biggest increase in percentage allocation in five years, from about 3% of total fund holdings to 4%.

Unlike the publicly traded bonds that have been a staple of pension fund portfolios for decades, these investments typically consist of private loans made to companies, either by a pension fund directly or through an investment manager.

“It’s been a very good year as far as deployment is concerned,” said Jérome Marquis, a managing director and head of corporate credit at Caisse de dépôt et placement du Québec, which manages $333 billion on behalf of six million workers and retirees in the province.

The increase in private debt is part of a larger push by U.S. and Canadian pension funds into privately held investments coveted for their high projected returns. But U.S. pension funds’ overall private debt holdings haven’t grown during the pandemic, Preqin found.

U.S. state and local government pension plans’ holdings fell $2.7 billion to $93.7 billion from the end of 2019 through Sept. 20, according to Preqin data, and private debt allocations stayed at about 3%. The data reflect a sampling of major pension plans surveyed by Preqin and don’t include all plans in either country.

Private debt assets lost 8.9% in the first quarter of 2020 and gained 5.7% in the second quarter, based on more than 750 funds tracked by Burgiss, a private capital data and analytics firm.

As post-financial crisis regulations have deterred banks from taking on riskier debt, pension funds have been eager to collect more interest than they can with

Uber Technologies Inc.

is selling a stake in its Uber Freight truck brokerage arm for $500 million to investors in a funding round led by Greenbriar Equity Group LP, pumping fresh cash into a business that has been growing rapidly while also losing money at a fast clip.

The planned investment comes as the coronavirus pandemic has hammered Uber’s core ride-hailing business, prompting the company to slash jobs and re-evaluate cash-burning businesses such as Freight, which accounts for a small portion of Uber’s overall revenue.

The new investors are coming in through what Uber Freight says is a Series A preferred stock financing. The investment values the business at $3.3 billion after the funding round.

Two managing partners at Greenbriar, a Rye, N.Y.-based midmarket private-equity firm focused on logistics and transportation, will join Uber Freight’s board of directors as part of the deal, which Uber said was expected to close this month.

Uber declined to name the other investors.

The transaction would provide Uber with an infusion of capital as the company pushes to cut costs and complete a $2.65 billion all-stock deal to acquire food-delivery rival Postmates Inc. that is expected to close next year.

It would give Uber Freight the benefit of Greenbriar’s logistics expertise as it scales up its digital freight operation, which uses technology to match truckers with shippers who need to move cargo.

“This significant statement of commitment is clearly saying we’re here for the long run,” Lior Ron, head of Uber Freight, said in an interview. “This is the next chapter for us.”

Uber Freight has grown rapidly in recent years, rolling out new logistics services as it gains market share from

  • The US added 749,000 private payrolls in August, according to ADP’s monthly employment report.
  • The total beat the median economist estimate of 649,000 payrolls, according to estimates compiled by Bloomberg.
  • The report precedes the US government’s nonfarm payrolls report slated for Friday release.
  • Visit Business Insider’s homepage for more stories.

Private-sector hiring accelerated through September as the US labor market’s recovery charged onward.

US companies added 749,000 payrolls last month, according to the ADP monthly employment report published Wednesday. That beat the median economist estimate of 649,000 payrolls, according to forecasts compiled by Bloomberg. The sum also exceeded the revised 481,000 reading for August.

“The labor market continues to recover gradually,” Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said in a statement, adding that “small businesses continued to demonstrate slower growth.”

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The monthly ADP report is viewed as a prelude to the government’s monthly nonfarm payrolls report released the following Friday. Economists expect the government’s release to show the unemployment rate falling to 8.2% in September, down from 8.4% the prior month. They also expect 850,000 US payroll additions for the month.

To be sure, ADP’s data has lagged the government’s report in recent months and signaled gloomier trends than nonfarm payrolls data has shown.

The September gains were primarily driven by hiring in the trade, transportation and utilities, and manufacturing sectors, according to the report. Businesses with at least 500 employees accounted for 297,000 of the monthly payroll additions, while mid-sized businesses added 259,000 roles. Firms with no more than 49 employees contributed 192,000 payroll additions.

ADP’s



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The economic impact of Covid-19 is starting to show up in private equity activity and deals in Africa.

With the continent’s largest economies on the brink of recession and investors looking to be more capital efficient while the effects of the pandemic unfold, private equity activity is slowing down across Africa in comparison to recent years.

In the first half of the year the value of private equity deals on the continent is on pace for a 63% drop compared to last year, says a report from the African Private Equity and Venture Capital Association (AVCA). The value of the 81 private equity deals reported stood at just $700 million.

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There’s a similar lag in the amount of funding raised by private equity players as well with $1.1 billion raised in the first half of the year, counting interim and final closes. If similar levels are maintained through the rest of the year, private equity fundraising on the continent will also record its lowest total in six years. In a similar vein, private equity exits have also slowed down with only 13 recorded in the first half of 2020.

Perhaps capturing the growing concern around the underfunded African health systems brought into sharp relief by the pandemic, health care sector, took nearly a quarter of all private equity deals done by value. The sector was led by Mediterrania Capital Partners and others’ investment in MetaMed, the largest platform of diagnostic imaging centers in Egypt, Jordan and Saudi Arabia.

But the most active sectors were financials, information technology and consumer discretionary, which attracted 49% of deals by volume.

Regionally, North Africa received the largest share of private equity deals by volume and value across the continent followed by West Africa.

The slowdown in PE activity