Expedia Group said on Thursday it was raising $3.2 billion in fresh capital to boost its liquidity, in an effort to ride out a coronavirus-driven collapse in travel demand. The company also named Vice Chairman Peter Kern as its chief executive officer and said it would abandon its dividend, implement furloughs and reduce work-week programs […]
Archives for 2020
Amazon woos offline stores after Facebook-Jio deal
A day after the mega announcement of Facebook investing $5.7 billion in Reliance Jio Platforms, which would involved the two companies coming together to enable commerce through neighbourhood stores, Amazon India made another push to integrate with local retailers to propel its offline strategy. Amazon said on Thursday said it was growing its ‘Local Shops […]
ETtech Top 5: Startups to cut more jobs, Facebook dials Jio & more
Hello everyone, It’s appraisal time. And all the hard work you’ve put in over last year may still not get you the rewards you were expecting. But don’t take it too hard, especially when companies all over the country are handing out pink slips. Illustration: Rahul Awasthi More layoffs in store Technology startups are likely […]
Should Financial Advisors Accept (And Disclose) Paycheck Protection Program Loans?
Executive Summary Last month, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2+ trillion emergency fiscal stimulus package, with the intention to mitigate the economic damage created by the Coronavirus pandemic. For many individuals and small business owners who are facing financial hardship, including many financial advisors themselves, the Paycheck Protection […]
For SoftBank’s Masayoshi Son, coronavirus turns vision to illusion
SoftBank Group founder Masayoshi Son’s dream of a global tech empire is unravelling, with the coronavirus crisis compounding losses at his $100 billion Vision Fund and distress at his big bets portending more pain. More than half of the fund’s capital is in startups that are suffering from the virus impact or exhibiting stress pre-dating […]
What in the World Is Form 1065-X?
As a business owner, you probably made a few mistakes when you started your venture. And, you probably haven’t seen the last of them. Mistakes happen, especially when you’re responsible for things like filling out accounting forms. If you made a mistake on Form 1065, 1065-B, or 1066, you can correct errors using Form 1065-X. […]
Covid-19 impact: Jeff Bezos takes back the wheel at Amazon
By Karen WeiseAt the end of February, Jeff Bezos, Amazon’s chief executive, and his girlfriend, Lauren Sanchez, were in France discussing climate change with President Emmanuel Macron at the Élysée Palace and celebrating atop the Eiffel Tower with designer Diane von Furstenberg. Days later, paparazzi spotted the couple grabbing dinner at Carbone in New York. […]
Eros bets on Hollywood, China and digital content with STX Entertainment merger
Indian motion picture production company Eros International is pivoting from films toward a digital content and distribution business in the US and China as part of its post-Covid strategy. “Since the last three years, we were working towards reducing our reliance on the theatrical revenues,” said Kishore Lulla, chairman of NYSE and BSE-listed Eros International. […]
Fairstone adds 2 firms to buy-out programme
Chartered Financial Planning firm Fairstone has added two more firms to its acquisition programme. Goodman Chartered Financial Planners in Kent and East Devon Associates will add 1,000 clients, 17 advisers and 11 support staff to Fairstone. Combined, the firms bring gross fee income of over £2m and £215m in Funds Under Management. Goodman Chartered Financial […]
FAQs: Recording furlough leave in Xero Payroll
The Coronavirus Job Retention Scheme has been set up by the UK government to support businesses through the developing COVID-19 situation. It allows employers to claim 80% of employee wages, plus any associated employer National Insurance and pension contributions, if they have been put on furlough because of coronavirus (COVID-19). Xero has been working hard […]