Business

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| Fortune

Business
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Overstock.com CEO hits back at shareholders over personal stock sale By Reuters

Overstock.com CEO hits back at shareholders over personal stock sale By Reuters

Business
Overstock.com CEO hits back at shareholders over personal stock sale (Reuters) - Overstock.com (NASDAQ:) Inc Chief Executive Officer Patrick Byrne on Friday hit out at shareholders who questioned the sale of a portion of his stake in the company, after the online retailer's shares plunged on Thursday following the disclosure of his move. Shares of the company that offers a range of lower-priced luxury goods, fell over 15% after a filing revealed Byrne, the largest shareholder in the company, had sold about 500,000 of his shares, or 9% of his stake. Byrne said on Friday his stock sales had created "an unanticipated stir". "Not once have I ever asked a shareholder for his reasons in any decision he made. Yet, given the consternation this has caused, I will give answer, ...
How Investors Use Satellite Imagery and Alternative Data

How Investors Use Satellite Imagery and Alternative Data

Business
When Tom arrived at Alex’s house, the brothers repaired to the back porch to admire the view of Mount Columbia in the distance. But instead of jamming, they took out their laptops. Alex pulled up more images taken by DigitalGlobe’s WorldView-1 satellite. Tom opened the annual reports of several publicly traded retailers.There is an old story about Sam Walton: In the early days of Walmart, its founder would monitor how stores were doing by counting the cars in the parking lot. After seeing the power of satellite imagery in his factory deal, Tom had a similar idea, but on a scale Walton could not have imagined. He asked his brother, “What if we could count the cars at every Walmart?”After a week together in the Rockies, the brothers had a plan. Alex left DigitalGlobe and negotiated with t
Why Brands are Turning to Spotify as the Next Big Social Platform

Why Brands are Turning to Spotify as the Next Big Social Platform

Business
There are so many social networks to choose from today: Instagram, Facebook, Twitter, LinkedIn, Pinterest. Maybe YouTube? Maybe Reddit? We’d love to let you in on a secret one that’s flying under the radar. Spotify! We’ve spent time digging into the rise of Spotify as a social media platform, used by today’s hottest brands. The results have been fascinating. We believe that Spotify is fast becoming a core platform for engaging with customers — through paid ads of course, but also through an organic presence. We’d love to tell you how these brands are doing it. A huge bonus – some of what we’re going share is easy to set up and free to experiment with! Keep reading to see how the music streaming giant can drive your brand forward and present some unique and exciting opportunities
Top Two Reasons for Churn

Top Two Reasons for Churn

Business
In working with a number of SaaS portfolio companies, I have found that there are two causes of churn that occur more frequently than any others. They are: Failure to successfully onboard the customer Loss of the champion who drove the purchase Looking at these in order: Failure to successfully onboard It’s easy to understand... Source ...
How SMEs Can Stand Out From The Crowd

How SMEs Can Stand Out From The Crowd

Business
EasyBiz Managing Director, Gary Epstein, says submitting taxes can be a seamless process that does not have to take up more time than is necessary. “If business owners understand what is required of them and they put a few processes into place to deal with their tax submissions properly, their lives will be so much easier.” What are the top three considerations for SMEs when submitting tax returns? “Firstly,” says Epstein, “SARS returns must be accurate and submitted in terms of the relevant Act. Secondly, returns should be submitted and paid on time to avoid unnecessary penalties and interest, and thirdly, business owners must follow up on queries issued by SARS. “Do not ignore these queries, act on them as soon as possible”. What are the major SARS submission deadlines for SMEs? Ep
Octane Blog – The official blog of the Entrepreneurs’ OrganizationAre You Using the Best Time Tracking System for Your Organization?

Octane Blog – The official blog of the Entrepreneurs’ OrganizationAre You Using the Best Time Tracking System for Your Organization?

Business
Written by Alex Tolbert. Alex is the founder and CEO of BerniePortal, the founder of Bernard Health and an EO Nashville member. The following article appeared on the BerniePortal blog. This column was originally published in HR Technologist. If you have hourly employees, you know how important it is to keep an accurate and compliant record of employee hours. On paper, this is challenging, and it has traditionally created a significant administrative burden for the human resources (HR), payroll, or project management departments. As a result, more and more employers are taking their HR administration online, including time and attendance tracking. But how do you know if you have the right solution for your organization and whether your time-tracking processes are optimized for compliance
Lupin net profit slips 32% to Rs 946.60 crore in FY19, net sales up 5.2%

Lupin net profit slips 32% to Rs 946.60 crore in FY19, net sales up 5.2%

Business
Drug maker Lupin has closed financial year 2018-19 with 32.1 per cent decline in net profit and 5.2 per cent growth in net sales on a year on year (y-o-y) basis. The company has posted a net profit before exceptional items at Rs 946.60 crore in FY19 as against Rs 1,393.40 crore in the last fiscal. Net profit after exceptional items was up 141.4 per cent at Rs 606.60 crore during the financial year ended March 31, 2019. "Exceptional items include a provision of Rs 340 crore made for fine upheld by the General Court of the European Union in Lupin's appeal against the European Commission's (EC) 2014 decision on the Perindopril litigation," the company said in a filing to the Bombay Stock Exchange.Lupin's net sales stood at Rs 163,694 crore in FY19 as compared to Rs 155,598 crore in FY18, r...
A Race Car Driver, a Finance Wiz and Some Rocket Scientists Joined Forces to Build the Ultimate Phone Protector

A Race Car Driver, a Finance Wiz and Some Rocket Scientists Joined Forces to Build the Ultimate Phone Protector

Business
The founders of PHOOZY discuss their invention that aims to keep your phone safe and sound. May 15, 2019 6 min read In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)Who are you and what’s your business?KC: My name is Kevin Conway and I am the co-founder and CEO of tech protection company, PHOOZY. In June of 2017, we launched the world’s first Thermal Capsule for smartphones that help prevent overheating in the sun and battery drain in the cold conditions while also providing drop protection and float protection. Over the past two year
Alibaba beats revenue expectations on cloud boost

Alibaba beats revenue expectations on cloud boost

Business
SHANGHAI (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd beat fourth-quarter revenue forecasts on Wednesday, thanks to growth in its core business and its diversification into cloud computing and other services. FILE PHOTO: The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China July 20, 2018. REUTERS/Aly Song/File PhotoAlibaba is diversifying to include new business lines such as cloud computing as a boom in its core e-commerce has peaked and its top line growth is slowing. It reported a 51% increase in group revenue for January-March from a year earlier to 93.50 billion yuan ($13.6 billion), beating estimates of 91.58 billion yuan, according to IBES data from Refinitiv. Sales excluding revenue from consolidated businesses gr...
Occidental Petroleum has bid $57bn for Anadarko

Occidental Petroleum has bid $57bn for Anadarko

Business
VICKI HOLLUB, chief executive of Occidental Petroleum, had been wooing Anadarko for nearly two years, according to people familiar with the events, when in early April her target went silent. On April 12th it became apparent why: Chevron, an oil major five times Occidental’s size, announced a $33bn deal to buy Anadarko instead (and assume its $15bn in net debt). Ms Hollub’s advances appeared spurned. Until, that is, Occidental made a counteroffer of $57bn (with debt) on April 24th, then on May 5th sweetened its terms. On May 6th Anadarko’s board backed it as “superior” to that of Chevron, which has until May 10th to up the ante. It is already the energy industry’s biggest bidding war in decades.Ms Hollub’s bold gambit now includes allies: Total, a French oil giant, and Warren Buffett. P
Pelicans win lottery, chance to draft Williamson By Reuters

Pelicans win lottery, chance to draft Williamson By Reuters

Business
© Reuters. NBA: NBA Draft Lottery The New Orleans Pelicans won the draft lottery on Tuesday and will pick first in the 2019 NBA Draft on June 20. The draw gives the Pelicans -- who had only a 6 percent chance of winning -- the inside track to select Duke freshman forward Zion Williamson at No. 1. The franchise had the top pick in 2012, when it selected Anthony Davis, who last season requested a trade. Results of the revamped lottery were revealed in Chicago on Tuesday, two days before prospects take part in the draft combine on the city's south side. The No. 2 pick went to the Memphis Grizzlies, followed in order by the New York Knicks, the Los Angeles Lakers, the Cleveland Cavaliers and the Phoenix Suns. Under rewritten lottery rules designed to prevent tanking, the Kn
Uniqlo Is Gap for Millennials

Uniqlo Is Gap for Millennials

Business
Quality isn’t an attribute typically associated with fast fashion, but Uniqlo has also managed to build a reputation for durability. Takeuchi told me the brand that reminds him most of the relative newcomer—Uniqlo opened its first U.S. stores in 2005—is an old American one: L.L.Bean. The association might seem odd, given the venerable Maine retailer’s tradition of outfitting its customers in boxy flannels and duck boots. But in terms of philosophy, if not aesthetic, Takeuchi thinks the comparison is apt. The proposition L.L.Bean has always made to its customers is that they are investing in items that will be with them for a lifetime. Uniqlo can’t promise anything approaching that longevity, but in an era of disposable fashion, a Uniqlo garment, made from hearty materials and cut in a t
Ugly Drinks’ Four Secrets to Disrupting a $392 Billion Industry

Ugly Drinks’ Four Secrets to Disrupting a $392 Billion Industry

Business
Great businesses see the future differently. Apple made CD’s redundant, and gave us 1,000 songs in our pocket Airbnb took travel, and made us all feel at home across globe Netflix made video rentals a thing of the past, and disrupted the Oscars And now, Ugly Drinks is creating a new, healthier future for the $392 billion soft drinks industry, challenging giants like The Coca-Cola Company, PepsiCo and Red Bull head on. From the outside, it may seem like a David v Goliath battle. But Ugly isn’t a plucky underdog. It’s a confident competitor with a different view of the world, and an unassailable belief in its mission. Its product — a sugar, and sweetener free, natural flavoured sparkling water — launched in 2016, and has since built up strong sales, and a core of die-hard fans, on b
Zero to $50M – A Roadmap of the Key Stages, and How to Win at Each Stage

Zero to $50M – A Roadmap of the Key Stages, and How to Win at Each Stage

Business
There are seven key stages in a startup’s evolution from $0m to $50m in revenue. Understanding where you are in that evolution, and how to act at each stage is critical for success, as what is appropriate at one stage is not appropriate at another stage. In my talk at SaaStr 2018, I will lay out the roadmap, and detail the keys to success at each stage. The talk is aimed at technical/product founders plus their sales, marketing & product executives who are responsible for the go-to-market strategy for their company.   Source ...
Inspiring A New Generation Of Learning – Education As A Basic Human Right

Inspiring A New Generation Of Learning – Education As A Basic Human Right

Business
EasyBiz Managing Director, Gary Epstein, says submitting taxes can be a seamless process that does not have to take up more time than is necessary. “If business owners understand what is required of them and they put a few processes into place to deal with their tax submissions properly, their lives will be so much easier.” What are the top three considerations for SMEs when submitting tax returns? “Firstly,” says Epstein, “SARS returns must be accurate and submitted in terms of the relevant Act. Secondly, returns should be submitted and paid on time to avoid unnecessary penalties and interest, and thirdly, business owners must follow up on queries issued by SARS. “Do not ignore these queries, act on them as soon as possible”. What are the major SARS submission deadlines for SMEs? Ep
Octane Blog – The official blog of the Entrepreneurs’ OrganizationStartup Owners: Have You Considered This Often-Overlooked Growth Strategy?

Octane Blog – The official blog of the Entrepreneurs’ OrganizationStartup Owners: Have You Considered This Often-Overlooked Growth Strategy?

Business
Written for EO by Michael Kiel, a serial entrepreneur. Startups often focus most of their attention on securing funding from potential investors. That’s not a bad strategy—particularly considering how much money it takes to get a business off the ground. However, there might be another strategic partnership that can benefit small businesses seeking exposure: partnering with bigger brands. Yes, bigger brands might be your competition. They could even target the same customers as your company, but they can still be potential allies. In fact, bigger brands may need your company as much as you need theirs. Smaller businesses are often more nimble than the giants of the business world, for instance, which allows them to react quickly to changes in market trends. They also tend to have a puls
SEBI sends show cause notices to HDFC AMC on FMP rollovers

SEBI sends show cause notices to HDFC AMC on FMP rollovers

Business
Securities and Exchange Board of India (SEBI) has sent two show cause notices to HDFC Asset Management Company regarding the investments of its Fixed Maturity Plans (FMPs) in debt instruments of the Essel Group, which is reeling under heavy debt."We are working with our legal advisors and are in the process of responding to the said show cause notices (dated May 10, 2019)," HDFC AMC, the investment manager of HDFC Mutual Fund, said in a filing to the BSE.Securities and Exchange Board of India (SEBI) has sent two show cause notices to HDFC Asset Management Company regarding the investments of its Fixed Maturity Plans (FMPs) in debt instruments of the Essel Group, which is reeling under heavy debt."We are working with our legal advisors and are in the process of responding to the said sho...
Meet the Working Mothers of Cannabis

Meet the Working Mothers of Cannabis

Business
In honor of Mother's Day, Green Entrepreneur takes a look at some of the working mothers building the cannabis industry.hj May 12, 2019 7 min read Opinions expressed by Entrepreneur contributors are their own. Raising a family is never easy, especially when you’re an entrepreneur trying to launch a business. Not only do you have to worry about providing for your family financially, but there’s also the struggle of trying to balance your work life with the emotional needs of your family.In honor of Mother’s Day, Green Entrepreneur talked with three of the countless working mothers of the cannabis industry to learn how they manage to make it all work.Erin Gore of Garden SocietyE
Pakistan reaches accord with IMF on new bailout package – minister

Pakistan reaches accord with IMF on new bailout package – minister

Business
ISLAMABAD (Reuters) - Technical teams from Pakistan and the International Monetary Fund have reached agreement on a new three-year, $6 billion bailout package, Pakistani Finance Minister Hafeez Shaikh said on Sunday. Speaking on PTV television, he said the staff level agreement, which must still be approved by the IMF board of directors in Washington, would show that effective reforms were underway in Pakistan. Reporting by Syed Raza Khan; Editing by Raissa KasolowskyOur Standards:The Thomson Reuters Trust Principles. Source ...
Intel’s new boss wants to teach the chipmaker new tricks

Intel’s new boss wants to teach the chipmaker new tricks

Business
“IT’S BEEN a couple of years since we’ve had you with us,” Bob Swan told Intel’s investors at its Californian headquarters on May 8th. “During that time, a lot has changed.” Not least for Mr Swan. Two years ago he was chief financial officer. Then, in June last year, Brian Krzanich, the firm’s previous boss, resigned after violating rules against romantic relationships between employees. Mr Swan, appointed regent while the firm hunted for a replacement, initially said he had no plans to make the arrangement permanent. By the end of January, though, he had decided that the view from the top was not so bad after all. He was duly appointed CEO.He has inherited a company in an awkward position. Intel’s business plan used to be simple. In 1971 it released the world’s first commercial micropr
Egypt sentences two to death over church attack By Reuters

Egypt sentences two to death over church attack By Reuters

Business
© Reuters. Policemen inspect the site of attack on Mar Mina church in Helwan district on the outskirts of Cairo CAIRO (Reuters) - An Egyptian court on Sunday sentenced two men to death and eight others to between three years and life in prison over an attack on a church and Christian-owned shop in Cairo that killed 10 people. A gunman opened fire in December 2017 on Christians in a shop in the southern Cairo suburb of Helwan, killing two people, before firing on the entrance to the nearby Mar Mina church, where he killed seven Christian worshippers and a policeman. The emergency state security court sentenced the main suspect, who is in custody, and another suspect, who is on the run, to death. Two defendants were handed life sentences, four were given four years in pri
Fake Money Is Sold on Amazon and eBay

Fake Money Is Sold on Amazon and eBay

Business
As the Secret Service has struggled to keep up, other types of fake money with ostensibly legitimate purposes have also popped up online—such as Chinese-made “training money,” designed for bank tellers. In lieu of a “For Motion Picture Use Only” disclaimer, these bills are stamped with pink characters that translate to “Bill to Be Used for Counting Practice.” Russian-made bills are harder to spot; serial-number fields are filled with a mix of numbers and Cyrillic characters (translation: “Souvenir”), while on a $20 note, the image of the White House is relabeled “Donetsk City,” the name of a shopping mall in Ukraine.Sometimes the cheap money works: The police department in Grants Pass, Oregon, recently received reports of “movie money” being successfully passed at local businesses. Some
A High Growth SaaS Playbook – 12 Metrics to Drive SuccessFor Entrepreneurs

A High Growth SaaS Playbook – 12 Metrics to Drive SuccessFor Entrepreneurs

Business
I recently gave a talk at the 2018 SaaStock NYC conference in June. I had two goals I wanted to accomplish, present a simple model to understand SaaS business and to show a simple model of a SaaS business and to show the key levers a CEO can pull to achieve the greatest impact on their business. To get an idea for what I talk about at the conference, you can take a look through the accompanying slide deck presentation here: Source ...