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 […]
Archives for April 2020
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 […]
Starting a franchise business in unprecedented times
Starting your business during an unprecedented pandemic and subsequent global economic shutdown can’t be easy. But family, friends and a supportive franchise unit, means John Boreham is getting through OK. John sat down with us (via phone) to run us through the last few weeks. FCA: Hi John, thanks so much for your time! So […]
Turning on the taps: Australian loans, government aid and cash flow
For many small businesses, the past month has been the hardest they have ever faced. Revenue has dried up for some while others are surviving on a trickle. We hope those affected will find it reassuring to know that billions of dollars in government aid is in the pipeline. Grants, subsidies, tax breaks and loan […]
The inside story of Facebook-Jio’s $5.7 billion deal
“Could I catch up on some sleep just for a few hours?” was the first message Anshuman Thakur typed out to a senior colleague around noon Tuesday, right after finishing a call with Ajit Mohan, Facebook‘s India boss. Thakur, a former telecoms rainmaker at NM Rothschild and Morgan Stanley, and now head of strategy and […]
Indian refineries scale back output as virus chokes demand
(Reuters) – India’s crude processing in March fell 5.7% from a year earlier, its biggest drop since September, as the coronavirus crisis and travel restrictions to curb its spread dented fuel demand and forced refineries to cut output. Refiners processed about 21.20 million tonnes, or 5.01 million barrels per day (bpd), of oil last month, […]