Executive Summary CFP professionals – like any professional – are expected to give advice in the best interests of their clients. Both as a hallmark of professionalism, and simply because it’s good business to do so. Yet in practice, it’s not enough to just say that CFP professionals are fiduciaries; professional adherence requires setting forth […]
Archives for June 2020
The sum of us | Tony Nagle and Line Paras
During this challenging period, many small business owners and their advisors have been busier than ever. But while the impact of COVID-19 continues to be felt, the requirements of year-end remain. And, now more than ever, it pays to be prepared. As part of our series, ‘The sum of us’, the Xero team is exploring […]
Indonesian ride-hailing firm Gojek cuts 9% of headcount
Indonesian ride-hailing and payments firm Gojek announced on Tuesday it would lay off 9% of its employees, or 430 workers, and close down its lifestyle services arm, GoLife. A spokesman said the company would “prioritise its high-impact core businesses of payments, transport and food delivery in a long-term response to the COVID-19 pandemic.” Reuters reported […]
Amazon pledges $2 billion venture capital fund to invest in clean energy
Amazon said on Tuesday it will launch a $2 billion venture capital fund that will focus on technology investments to reduce the impact of climate change and support sustainable development. The Climate Pledge Fund will invest in companies across industries such as transportation and logistics, energy, storage and utilization, manufacturing and materials, and food and […]
New FDI rules may cloud Ant’s investment in Zomato
Zomato’s existing investor Info Edge has said that the online food delivery and restaurant discovery platform is yet to receive $100 million from the $150 million it raised from existing backer — China’s Ant Financial — in January this year. Additionally, it is being “evaluated” if this capital needs government approval amid curbs on investments […]
Slow clearance of Chinese goods may put e-tail in a spot
India’s move to delay Customs clearance for goods, components and raw materials imported from China could hurt companies like Flipkart, Amazon, Snapdeal and Paytm Mall, as it puts at risk categories that contribute over 50% of sales on these ecommerce platforms. Apart from smartphones — which is the largest sales driver for online retailers — […]
Online sales double for top consumer brands in India due to Covid-19
India’s largest consumer goods companies saw Covid-19 led disruptions significantly boosting online sales in India and for several e-commerce sales and contribution to overall business have doubled. This is true for top deck companies like Hindustan Unilever, ITC, Parle Products, LG, Vivo and Godrej. Senior executives said several consumers continue to buy online rather than […]
Govt to hold meeting with e-commerce marketplaces this week
The government will hold a meeting with leading e-commerce marketplaces on Wednesday in order to persuade them to prominently display the ‘country of origin’ of products on their platforms, in a bid to curb imports from China. The move to have Amazon, Flipkart, Snapdeal and others display the ‘country of origin’ follows a mandate by […]
Stock futures slip after Nasdaq Composite notches new record
People are walking by the New York Stock Exchange (NYSE) building during Covid-19 pandemic in New York on May 26, 2020. Tayfun Coskun | Anadolu Agency | Getty Images Futures contracts tied to the major U.S. stock indexes slipped at the start of the overnight session Tuesday evening as Wall Street looked to take a breather […]
Update: The EZ Version of the PPP Loan Forgiveness Application
Last week, the U.S. Small Business Administration, in consultation with the Department of the Treasury, released an updated PPP loan forgiveness application. The organization also released a new EZ version of the PPP loan forgiveness application for borrowers that meet one of the following criteria: Self-employed with no employees An employer who did not reduce […]