Disney-owned video streaming service Disney+ Hotstar had about 8.63 million subscribers in India for the quarter ended June, accounting for 15% of the company’s flagship streaming service’s user base which stood at 57.3 million for the quarter. This translates to an estimated 625,000 new subscriber additions in the April-June period in the country. Disney+, which […]
Archives for August 2020
Amazon, Flipkart pad up for sale events before festive season
Illustration: Rahul Awasthi India’s top online marketplaces, Amazon and Walmart-owned Flipkart, are launching promotional events, beginning August 6, aimed at helping sellers liquidate old inventory and free up working capital ahead of mega festival sales, according to company executives. Amazon’s two-day sale will be its first large promotional event since the easing of the lockdown. […]
Proper raises $4.8 million to become the ‘Uber of property accounting’ – HousingWire
This article was written for FinLedger, HW Media’s new fintech-focused news brand designed specifically for financial services professionals in banking, insurance and real estate. Stay tuned for updates. Proper, an AI-powered accounting and bookkeeping service for the multifamily industry, announced Wednesday it has raised $4.8 million in seed funding in a round led by MetaProp. Expa (which was founded by […]
New FAQs address PPP loan forgiveness issues
The U.S. Small Business Administration (SBA), in consultation with Treasury, released guidance Tuesday answering 23 frequently asked questions regarding the forgiveness of Paycheck Protection Program loans. The FAQs, published in a new 10-page document, are divided into four sections addressing different aspects of the process and calculations PPP borrowers should use to determine how much […]
‘Embarrassed’ by Wells Fargo, 6 advisors take $300M in AUM to Raymond James
Wrung out by years of scandals at Wells Fargo, a team of six financial advisors became the most recent defectors after the bank failed to secure Paycheck Protection Program loans for about 50 business owners they serve. “We basically had clients demanding that we find a new home,” says Chris Williams of his team’s decision […]
TIGTA critiques IRS’s protection of taxpayer data
The IRS continues to have challenges protecting taxpayer data, and especially ensuring that its various applications provide complete and accurate audit trails, according to the Treasury Inspector General for Tax Administration (TIGTA). TIGTA issued a report that highlights IRS shortcomings and challenges, titled Most Internal Revenue Service Applications Do Not Have Sufficient Audit Trails to […]
AICPA continues to ask Congress to include PPP deductibility in upcoming legislation
In a letter dated Aug. 4, 2020, the AICPA joined over 170 organizations to urge Congress to “include a technical correction addressing the tax treatment of loan forgiveness under the Paycheck Protection Program (PPP)” in its next round of legislation addressing the coronavirus pandemic. The letter, addressed to House Speaker Nancy Pelosi, D-Calif., and Senate […]
silver lining
by Harley Schwadron
ETtech Top 5: Trump wants a cut for TikTok deal, e-pharma consolidation & more
Microsoft-TikTok talks have entered unchartered territory with an unusual demand from the US President Donald Trump. After seeing this TikTok deal play out, I will never again say “ok that’s not realistic” after an episode of Billions. — Aaron Levie (@levie) 1596486096000 Meanwhile, India’s online pharmacy space is set to see a wave of consolidation […]
Booking.com plans to cut workforce by a quarter
Booking Holding, the U.S.-based company that owns travel website Booking.com, intends to reduce its 17,000 work force by 25% as a result of business lost during the coronavirus pandemic, it said on Tuesday. A company spokeswoman confirmed a report in Dutch newspaper NRC Handelsblad that had cited an internal video sent to staff by chief […]