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'They are essential': How smoke detectors are evolving

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'They are essential': How smoke detectors are evolving

AI trained to recognise fire is among the latest developments in fire alarm tech.

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Olive Garden parent to close all Bahama Breeze restaurants

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4 February 2026

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Olive Garden parent to close all Bahama Breeze restaurants

‘Bar Rescue’ host Jon Taffer joins ‘Varney & Co.’ to discuss how weight loss drugs, inflation and rising costs are reshaping America’s restaurant industry.

Darden Restaurants announced on Tuesday that it will close its Bahama Breeze chain after nearly 30 years in operation.

The Orlando-based company said it will permanently shut down 14 of Bahama Breeze’s 28 restaurants, while converting the remaining locations into other Darden brands.

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Restaurants designated for permanent closure will continue operating through April 5, Darden said.

RESTAURANT GIANT FILES FOR BANKRUPTCY UNDER MASSIVE DEBT SHORTLY AFTER TOUTING MAJOR EXPANSION

Signage is displayed outside of a Darden Restaurants Inc. Bahama Breeze Island Grille location in Schaumburg, Illinois, U.S., on Thursday, June 22, 2017. Darden Restaurants Inc. is scheduled to reporter earnings figures on June 27. Photographer: Daniel Acker/Bloomberg via Getty Images

Sign in front of a Darden Restaurants Inc. Bahama Breeze Island Grille in Schaumburg, Illinois, on June 22, 2017. (Daniel Acker/Bloomberg via Getty Images)

The conversion of the remaining 14 locations is expected to take 12 to 18 months. Those restaurants will continue operating until any temporary closures are required during the conversion process, the company said.

A vehicle sits parked outside of a Darden Restaurants Inc. Bahama Breeze Island Grille location in Schaumburg, Illinois, U.S., on Thursday, June 22, 2017. Darden Restaurants Inc. is scheduled to reporter earnings figures on June 27. Photographer: Daniel Acker/Bloomberg via Getty Images

A vehicle sits parked outside a Bahama Breeze restaurant in Schaumburg, Illinois, on June 22, 2017. (Daniel Acker/Bloomberg via Getty Images)

Darden did not specify which brands the Bahama Breeze locations will be converted into. The company’s portfolio includes chains such as Olive Garden, Yard House, Ruth’s Chris Steak House and Eddie V’s, among others.

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THIS RESTAURANT IS THE BEST PLACE TO EAT IN THE US, ACCORDING TO YELP

“The company believes the conversion locations are great sites that will benefit several of the brands in its portfolio,” Darden said in a press release. “Going forward, the primary focus will continue to be on supporting team members, including placing as many as possible in roles within the Darden portfolio.”

Signage is displayed at a Darden Restaurants Inc. Bahama Breeze Island Grille location in Schaumburg, Illinois, U.S., on Thursday, June 22, 2017. Darden Restaurants Inc. is scheduled to reporter earnings figures on June 27. Photographer: Daniel Acker/Bloomberg via Getty Images

Most of the locations that will be converted into other brands are in Florida. (Daniel Acker/Bloomberg via Getty Images)

The Bahama Breeze locations slated for permanent closure are in Delaware, Georgia, Michigan, New Jersey, North Carolina, Pennsylvania, Virginia and Washington, Darden said.

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Most of the locations that will be converted into other brands are in Florida, with additional restaurants in Georgia, North Carolina, South Carolina and Virginia.

Shares of Darden Restaurants are up more than 14% year to date.

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Business

Power giant Drax to make 350 redundancies amid UK and US restructuring

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9 minutes ago

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4 February 2026

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Business Live

The firm says it is ‘focused on driving growth in our flexible generation business’

Drax power station near Selby, North Yorkshire. Drax is aiming to become "carbon negative" by 2030

Drax power station near Selby, North Yorkshire.(Image: PA)

Power company Drax has announced a major restructuring which will lead to 350 redundancies as part of plans to build “a strong, resilient business for the future”. The FTSE 250 firm operates the country’s largest power station in North Yorkshire, which generates around 5% of the UK’s electricity predominantly from sustainable biomass.

At the end of last year it made two significant announcements, including its plans to establish a data centre at its Yorkshire site, highlighting how it plans to repurpose existing infrastructure at the power station, based between Selby and Goole, to develop a data centre. A centre could be operational as early as 2027, and it indicated it plans to allocate up to £2bn for incremental investment, primarily in flexible and renewable energy.

A month earlier it struck a £157.2m deal to acquire three battery energy storage system (BESS) projects. The sites are based in Marfleet in Hull, Neilston in East Renfrewshire, Scotland, and East Kilbride in Lanarkshire, Scotland.

Now, the firm said it is “focused on driving growth in our flexible generation business”, resulting in the restructure. The company says 350 redundancies are set to be made, and it has now started a consultation process with affected staff, in Yorkshire and North America.

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Drax Group has acquired three ready-to-build battery storage system projects from Apatura.

Drax Group has acquired three ready-to-build battery storage system projects from Apatura.(Image: Apatura)

The biomass power station operators said: “As the global business and energy landscape continues to develop, we’re evolving our strategy to ensure we’re building a strong, resilient business for the future. The recent signing of the low-carbon dispatchable CfD agreement is recognition of the important role that Drax Power Station will continue to play for UK energy security into the 2030s.

“Moving forwards, we’re focused on driving growth in our flexible generation business, creating new options and opportunities at Drax Power Station beyond 2031, and advancing future uses of sustainable biomass. To help realise these opportunities, we’re adapting our organisational structure.

“As a part of that process, we are commencing a consultation process in the UK, and will be briefing colleagues in North America on changes that could result in a reduction of more than 350 roles across the Drax Group. We believe these changes are key to our long-term success and our continued commitment to deliver UK energy security and to support the energy transition.

“This is in no way a reflection of the professionalism, passion and commitment that our colleagues have shown. We will support our colleagues as we develop these proposals and work closely with our unions and elected employee representatives as we implement them.”

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Union representatives from GMB accused Drax of betraying its employees. Deanne Ferguson, GMB senior organiser, said: “You can’t build a low-carbon future by making skilled energy workers redundant.

“Drax has had huge public subsidies – yet has betrayed the workforce and the communities that have supported it. A just transition means secure jobs, proper planning and workers at the heart of change. Ministers need to step in and make sure the reality matches their rhetoric. GMB will fight for nothing less.”

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Australian shares reverse early dip as miners soar

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17 minutes ago

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4 February 2026

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Australian shares reverse early dip as miners soar

Australia’s share market has shrugged off a morning slump to charge higher by the close, buoyed by strength in large cap miners, banks and energy stocks.

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Wegovy maker warns of 'painful' price cuts as shares plunge

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24 minutes ago

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4 February 2026

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Wegovy maker warns of 'painful' price cuts as shares plunge

Novo Nordisk is facing “unprecedented” price pressures, “intensifying competition” and patents expiring.

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Suncor Energy Inc. 2025 Q4 – Results – Earnings Call Presentation (TSX:SU:CA) 2026-02-04

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31 minutes ago

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4 February 2026

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Q4: 2026-02-03 Earnings Summary

EPS of $1.10 beats by $0.07

 | Revenue of $12.30B (-1.66% Y/Y) misses by $42.98M

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Here’s the breakdown of U.S. borrowers

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4 February 2026

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Here's the breakdown of U.S. borrowers

An aerial view of homes in San Francisco, Aug. 27, 2025.

Justin Sullivan | Getty Images

The share of U.S. homeowners with high rates on their mortgages has jumped sharply in just the last few years.

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That’s having a marked impact on the refinance market and a somewhat more muted impact on home sales. Rates have been front and center in the debate over how to improve home affordability — and for good reason.

In 2022, after mortgage interest rates hit more than a dozen record lows, sparking a refinance bonanza, barely 10% of homeowners had 30-year fixed mortgages with rates above 5%. Just four years later, that share has jumped to over 30%, according to ICE Mortgage Technology. About 20% of borrowers have mortgages with a rate over 6%.

Home sales have been less than robust over the last few years, with the National Association of Realtors reporting a historically low 4.06 million sales last year, basically unchanged from 2024. This, after hitting a 15-year high of 6.12 million home sales in 2022.

More recent sales, combined with some cash-out refinancing, pushed the share of higher-interest-rate borrowers up.

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There has been a major focus by the Trump administration to lower mortgage rates as a way to boost home affordability.

The president recently announced a plan for Fannie Mae and Freddie Mac to buy more than $200 billion in mortgage-backed bonds. It is still a subject of debate as to how much lower that would push mortgage rates once the purchase is made, but just the announcement alone caused rates to drop a bit.

Industry experts say the actual purchases could shave perhaps about an eighth of a percentage point off the current 30-year rate, putting it right around 6%. Last year at this time, the average rate on the 30-year fixed mortgage was just over 7%, according to Mortgage News Daily.  

If the average on the 30-year fixed moved to 6%, 5.5 million current homeowners would be able to benefit from a refinance, according to ICE Mortgage Technology. Those homeowners could save at least 75 basis points on their rate, which makes the fees involved financially worthwhile, it said.

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If rates dropped to 5.88%, that number grows to 6.5 million homeowners.

“The most popular interest rate that’s been used to buy a home over the last 3.5 years is between 6.875% and 6.99%, right? Nobody wanted to tell their neighbors they used a 7% interest rate to buy a home, so everybody bought down into this high 6% range,” said Andy Walden, ICE Mortgage Technology’s head of mortgage and housing market research.

“Coincidentally, those 15-basis-point-spread moves from this $200 billion in MBS purchase is moving rates from what would have been six and a quarter right now down to six and an eighth. And so it’s providing meaningfully more refinance incentive than would otherwise be out there, and it’s having an oversized impact on the market,” he said.

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Applications to refinance a home loan are now about 120% higher than they were one year ago, according to the Mortgage Bankers Association.

As for home sales, the last four years were characterized by the so-called rate “lock-in” effect, meaning potential sellers didn’t want to give up their historically low rates. They therefore put off moves that they might otherwise have wanted to make.

Entering 2025, there were roughly 39 million homeowners with an interest rate below 5% and roughly 12 million with an interest rate below 3%, according to Walden.

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“If you look at how those borrowers behaved last year, only about 6% of those folks gave up those low rates, either through a refinance to pull equity out of their home or through the sale of their home. Close to 95% of homeowners held on to those rates tight,” he said.

As for prospective homebuyers, a 15-basis-point drop on the 30-year fixed rate would save only about $35 a month on the mortgage payment for the average-priced home. Alternately, they could keep the rate and buy 1.5% more home.

“Certainly a move in the right direction, but not a massive movement for those homebuyers,” said Walden.

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How Digital Gaming Trends Are Reshaping Modern Entertainment Businesses

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54 minutes ago

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4 February 2026

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It has been revealed that the digital gaming revolution has revolutionized the way we purchase and play games. Still, it has also given us an uncountable number of ways to save money.

We explore how digital gaming—especially crypto-enabled formats—is influencing audience behavior, monetization, and engagement strategies for today’s entertainment-focused businesses.

Over the past few years, digital entertainment has shifted from a passive experience into something far more interactive, personalized, and data-driven. From streaming platforms to mobile games, audiences now expect choice, speed, and a sense of control over how they spend their time—and money. For business owners and operators watching these trends, gaming has become one of the most revealing indicators of where digital engagement is heading next.

At Business Matters, we spend a lot of time covering how consumer behavior impacts modern businesses, particularly those operating online or in highly competitive digital markets. Gaming is no longer a niche hobby; it’s a mainstream entertainment channel influencing payment preferences, loyalty models, and even brand trust. Understanding how these dynamics work helps our readers make smarter decisions about where opportunities—and risks—are emerging.

One area drawing particular attention is crypto-enabled gaming, where transparency, speed, and global access change how users interact with platforms. For readers looking to understand practical examples of this shift, resources like where to play keno with bitcoin online illustrate how traditional game formats are being reimagined for modern, digitally fluent audiences.

Why This Topic Matters Now

Digital entertainment businesses are operating in an environment where user expectations evolve faster than ever. Audiences compare experiences across apps, platforms, and industries, not just within gaming itself. That makes it critical to understand why certain formats gain traction while others struggle to retain attention.

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At a glance, this article is especially useful for:

  • Entrepreneurs and small business owners exploring digital or entertainment-led revenue models
  • Marketers and product teams trying to understand user engagement patterns
  • Investors and strategists tracking where consumer spending habits are shifting
  • Operators looking to build trust and loyalty in competitive online spaces

We’re well positioned to unpack this topic because we regularly help our readers connect consumer trends with real-world business impact—turning abstract shifts into actionable insight.

Core Benefits and Practical Impact for Businesses

When businesses understand how modern gaming ecosystems work, they gain insight into far more than entertainment preferences. They see how users respond to friction, rewards, transparency, and choice.

Some of the key benefits include:

  • Clearer engagement signals: Gaming platforms provide immediate feedback on what users enjoy, abandon, or repeat.
  • Stronger loyalty models: Well-designed reward systems encourage repeat interaction without relying on aggressive promotions.
  • Improved payment experiences: Digital-native users value speed, privacy, and flexibility—lessons that extend beyond gaming.
  • Reduced churn: When users feel in control, they’re more likely to stay engaged long-term.
  • Better product design decisions: Observing gaming behavior helps businesses prioritize usability and simplicity.

For many of our readers, these benefits translate directly into better customer retention, more predictable revenue, and fewer costly experiments based on guesswork.

From Information to Insight: Spotting the Right Signals

One of the most valuable lessons gaming teaches us is how to read behavioral signals. It’s not just what users say—they show us what matters through their actions.

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For example:

  1. Choice-driven behavior: When users are given multiple formats or payment options, the most-used ones reveal where comfort and trust lie.
  2. Session length patterns: Short, repeat visits often indicate higher satisfaction than long, one-off sessions.
  3. Feature adoption: Tools that are discovered organically tend to deliver more long-term value than those pushed aggressively.

We often encourage readers to apply this thinking beyond gaming. Whether you run an e-commerce site, a content platform, or a service business, the same principle applies: patterns beat opinions. Watching what people actually do helps refine strategy far more effectively than relying on assumptions.

Applying These Ideas Across the Full Journey

Pre-Phase: Planning and Preparation

Before launching new features or offers, it’s essential to define what success looks like. Are you aiming for longer engagement, more frequent visits, or higher trust? At BM Magazine, we regularly stress the importance of aligning goals with genuine user value rather than vanity metrics.

Active Phase: Real-Time Experience

During the user’s active experience—whether they’re browsing, playing, or transacting—simplicity matters. Gaming platforms succeed when interfaces are intuitive and rewards are clear. Businesses can apply this by reducing unnecessary steps, explaining value upfront, and avoiding clutter that distracts from the core experience.

Post-Phase: Review and Improvement

After interaction comes reflection. Successful platforms analyze what worked and adjust quickly. We advise our readers to build lightweight review processes: look at engagement data, gather qualitative feedback, and iterate. Over time, this creates a cycle of continuous improvement rather than one-off optimizations.

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Expert Validation from a Credible Source

Industry research reinforces the importance of user-centric digital experiences. Insights published by Harvard Business Review highlight that companies investing in seamless, trust-based digital interactions consistently outperform those that focus solely on short-term acquisition. Their analysis shows that reducing friction and increasing transparency leads to higher lifetime value and stronger brand loyalty, supporting the approach we’re outlining here.

Best Practices We Recommend

Based on what we see across digital entertainment and business trends, we suggest:

  • Start with clear, realistic goals tied to user value, not hype.
  • Keep experiences simple so users don’t feel overwhelmed or misled.
  • Focus on trust-building elements like transparency and control.
  • Use data to guide decisions, but interpret it in human terms.
  • Respect user time, budgets, and boundaries at every touchpoint.
  • Review performance regularly and refine rather than overhaul.

These principles apply whether you’re building a platform, marketing a product, or evaluating new digital opportunities.

Looking Ahead: What’s Next for Digital Entertainment Businesses

Looking forward, we expect to see smarter personalization, more flexible payment models, and stronger community-driven experiences across digital entertainment. As technology matures, users will gravitate toward platforms that feel fair, intuitive, and aligned with their preferences.

We’re excited about these developments because they reward businesses that take a thoughtful, long-term approach. At BM Magazine, our role is to help readers understand these shifts early, cut through the noise, and apply insights in ways that make sense for their goals.

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By approaching digital gaming and entertainment trends with structure and curiosity, businesses can build experiences that are not only profitable, but genuinely valued by the audiences they serve.

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Ranked & Reviewed for Maximum Employee Growth & ROI

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1 hour ago

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4 February 2026

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The 20 Best Performance Management Software in 2026

In 2026, performance management has evolved beyond annual reviews into continuous, AI-enhanced processes that boost engagement, align goals, and drive measurable results. With hybrid/remote work standard and talent retention critical amid economic shifts, top platforms integrate goal tracking (OKRs), 360-degree feedback, real-time check-ins, analytics, and development tools. Many leverage AI for personalized insights, bias reduction, and predictive analytics.

This 3000-word guide ranks the 20 best performance management software for 2026, based on aggregated data from G2, Capterra, Gartner Peer Insights, SoftwareReviews, and expert sources like Betterworks, Lattice, and People Managing People (as of early 2026). Rankings consider user ratings, features (continuous feedback, OKRs, integration), scalability (SMB to enterprise), pricing, ease of use, and real-world impact (engagement uplift, retention gains).

Whether you’re a startup needing simple check-ins or an enterprise requiring HCM integration, these tools lead the pack.

1. Lattice – Best Overall for Continuous Feedback & Engagement

Lattice tops many 2026 lists (G2 4.7/5, Capterra high scores) for its unified platform blending performance reviews, engagement surveys, goal alignment, and growth tools.

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Key features: OKR/ goal tracking, 360 reviews, 1-on-1 agendas, pulse surveys, AI-driven insights. Pros: Intuitive interface, strong analytics, high adoption. Cons: Pricing starts at ~$11/user/month; steeper for small teams. Best for: Mid-market to enterprise building feedback cultures. Clients praise its role in boosting engagement and reducing turnover.

2. 15Five – Top for Weekly Check-Ins & Manager Coaching

15Five excels in continuous performance (G2 4.6/5) with weekly pulse questions, OKRs, high fives, and coaching tools.

Key features: Weekly wins/challenges, objective tracking, 360 feedback, reporting. Pros: Easy adoption, manager empowerment. Cons: Less robust for complex enterprise needs. Best for: Teams prioritizing regular touchpoints. Users report improved alignment and morale.

3. BambooHR – Best All-in-One HR with Strong Performance Module

BambooHR (Capterra Shortlist leader, high G2) integrates performance into full HRIS for seamless reviews, goals, and e-signatures.

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Key features: Custom review cycles, self-evaluations, 9-box grids. Pros: User-friendly, affordable (~$10-15/user/month). Cons: Less advanced AI/engagement than specialists. Best for: SMBs wanting integrated HR. Ideal for growing companies.

4. Betterworks – Enterprise Powerhouse for OKRs & Alignment

Betterworks leads enterprise lists (Betterworks own rankings) with robust OKR cascading, continuous check-ins, and talent insights.

Key features: Goal alignment, calibration, AI recommendations. Pros: Scalable, data-driven. Cons: Higher implementation effort. Best for: Large orgs focused on strategic alignment.

5. Leapsome – Best for Performance + Engagement Combo

Leapsome shines in Europe/US (frequent top lists) with reviews, OKRs, learning, surveys.

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Key features: 360s, meeting tools, analytics. Pros: Modern UX, comprehensive. Cons: Pricing on request. Best for: Growth-stage companies.

6. PerformYard – Streamlined Reviews & Feedback Loops

PerformYard focuses on simple, customizable reviews and continuous feedback.

Key features: Goal setting, 360s, automated workflows. Pros: High customization, strong support. Cons: Narrower scope. Best for: Teams ditching spreadsheets.

7. Culture Amp – Employee Experience & Performance Leader

Culture Amp combines engagement surveys with performance tools.

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Key features: Custom templates, insights, development plans. Pros: Deep analytics. Cons: More engagement-focused. Best for: Culture-first orgs.

8. HiBob (Bob) – Modern HRIS with Integrated Performance

HiBob offers performance within dynamic HR platform.

Key features: Reviews, goals, feedback, lifecycle tools. Pros: Great for global/hybrid teams. Cons: Broader than pure performance. Best for: Fast-growing companies.

9. Workleap – AI-Powered Structured Management

Workleap (formerly GSoft) uses AI for feedback, goals, recognition.

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Key features: Continuous tools, analytics. Pros: Structured yet flexible. Cons: Emerging in some markets. Best for: Teams wanting AI assistance.

10. Deel – Global Teams with Payroll + Performance

Deel integrates performance for distributed workforces.

Key features: Reviews, goals, compliance. Pros: Global payroll tie-in. Cons: Payroll-heavy. Best for: Remote/international.

11. Small Improvements – Simple, Meaningful Interactions

Small Improvements prioritizes feedback and reviews.

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Key features: Continuous feedback, OKRs. Pros: Easy use. Cons: Less feature-rich. Best for: SMBs.

12. Engagedly – AI-Powered All-in-One

Engagedly offers OKRs, reviews, learning.

Key features: AI insights, talent tools. Pros: Comprehensive. Cons: Interface dated in spots. Best for: Mid-market.

13. Profit.co – OKR-Focused with Task Integration

Profit.co ties OKRs to tasks/performance.

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Key features: Goal tracking, dashboards. Pros: Affordable. Cons: OKR-centric. Best for: Objective-driven teams.

14. Paycor – Mid-Market HCM with Performance

Paycor integrates talent development.

Key features: Reviews, alignment. Pros: Full HCM. Cons: Enterprise pricing. Best for: Mid-sized.

15. Synergita – Cost-Effective Customizable

Synergita offers SMART goals, automated reviews.

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Key features: Dashboards, integrations. Pros: Low cost (~$0.35/user). Cons: Less known. Best for: Budget-conscious SMBs.

16. ClearCompany – Talent Management Suite

ClearCompany includes performance, recruiting.

Key features: Reviews, analytics. Pros: Integrated. Cons: Setup time. Best for: Full talent lifecycle.

17. Factorial – Easy Reviews & Analytics

Factorial provides goal tracking, reviews.

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Key features: Customizable, affordable. Pros: Intuitive. Cons: Emerging globally. Best for: European SMBs.

18. Workday Performance – Enterprise HCM Standard

Workday excels in large-scale alignment.

Key features: Calibration, insights. Pros: Robust. Cons: Expensive/complex. Best for: Enterprises.

19. SAP SuccessFactors – Global Enterprise Leader

SuccessFactors offers comprehensive tools.

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Key features: OKRs, learning. Pros: Scalable. Cons: High cost. Best for: Multinationals.

20. Rippling – All-in-One with Performance

Rippling adds performance to HR/payroll/IT.

Key features: Lifecycle management. Pros: Unified. Cons: Newer in performance. Best for: Tech-savvy teams.

2026 Trends in Performance Management Software

  • Continuous over Annual: Shift to weekly/monthly feedback.
  • AI Integration: Bias checks, coaching suggestions.
  • Engagement Link: Surveys tied to performance.
  • Hybrid/Remote Focus: Tools for distributed teams.
  • Data-Driven: Predictive analytics for retention.

How to Choose in 2026

  • Size: SMBs → BambooHR/15Five; Enterprise → Lattice/Betterworks.
  • Needs: Feedback → 15Five; OKRs → Profit.co.
  • Budget: $4-16/user/month common; enterprise custom.
  • Integrations: Check HRIS/Teams/Slack.
  • Trial/Demo: Always test adoption.

These 20 platforms transform performance from chore to growth driver. Select based on culture and goals—strong implementation yields 20-30% engagement boosts.

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Marzetti Co. to acquire Japanese sauce maker

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1 hour ago

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4 February 2026

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Marzetti Co. to acquire Japanese sauce maker

Bachan’s is a manufacturer of Japanese barbecue sauces. 

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Waterfront hotel in Swansea acquired in a multi-million-pound deal

Published

1 hour ago

on

4 February 2026

By

Business Live

The property investment in the building occupied by Premier Inn has been acquired by ME Swansea

A prime waterfront hotel in Swansea is under new ownership following a multi-million-pound deal. The property investment covering the 132 bedroom Premier Inn has been acquired by ME Asset Management through its subsidiary ME Swansea.

The exact value of the deal has not been disclosed but was supported with a £9.6m senior loan facility from specialist real estate lender ASK Partners (ASK).

The hotel is let to Whitbread plc under an occupational lease that runs to October 2035. The identity of the seller, represented by Savills, has not been disclosed.

READ MORE: More business rate relief for hospitality firms in WalesREAD MORE: It’s wrong to caricature Welsh firms as being too cautious when it comes to growth finance

Whitbread is paying an annual rent of around £1m per year. On the ground floor there is a near 5,000 sq ft retail unit operated by Tesco.

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The property comes under a long-term leasehold agreement with the Welsh Government at a peppercorn rent of £10 per year.

ME Asset Management specialises in repositioning overlooked or underperforming properties through strategic capital investment. Backed by a consortium of experienced property professionals, the business is a new entrant in the operational real estate space.

ME Swansea intends to undertake façade restoration as part of a wider enhancement programme.

Mike Ginsberg, investment manager at ASK, said: “This loan presented an attractive opportunity to finance a well-located, income-producing asset with a strong operator covenant. The long lease to Whitbread provides cashflow visibility, while Swansea’s ongoing regeneration creates compelling demand fundamentals for quality hospitality assets. We were pleased to support ME Swansea on a transaction that aligns closely with our lending strategy.”

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Verender Badial, chief executive of ME Asset Management, added: “This acquisition reflects our focus on high-quality, income-producing assets in resilient regional markets. Swansea continues to attract significant inward investment, and the Premier Inn is exceptionally well located. ASK has been an excellent funding partner, and their understanding of value-add and operational real estate enabled us to execute this transaction efficiently.”

ASK has now lent over £2bn since inception providing flexible debt solutions to experienced sponsors across hospitality, residential and wider real estate asset classes.

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