Illustration: Rahul Awasthi Startups turn to layoffs, salary cutsWhat’s the news? Startups have started laying off staff and, in some cases, asked employees to take pay cuts as they look for ways to weather the impact of the coronavirus outbreak. Why it matters? In these unprecedented times, layoffs and pay cuts, according to companies, will […]
Archives for 2020
SoftBank won’t buy $3 billion in WeWork stock
By Peter EavisSoftBank has decided it will not buy $3 billion in WeWork stock from other shareholders, a board committee of the office space company said Wednesday night, dealing a blow to shareholders, including Adam Neumann, the company’s co-founder and former chief executive, who had hoped to sell their stock. SoftBank, a Japanese conglomerate and […]
Global Product News: March 2020
We’re working hard to bring small businesses and advisors the tools and features you need to get through these challenging times. Here are the latest product updates from our talented teams, plus a peek at what’s coming soon. We’re here to support you, so please reach out if you have any questions or need a […]
Bigbasket, Flipkart look to hire cabs for deliveries
Illustration: Rahul Awasthi A driver from a cab aggregator might deliver your next grocery order from Flipkart or Bigbasket as the online retailers are in talks with the ride-hailing platform for deliveries of essentials amid the national lockdown. Flipkart has also sought government approval for the same as it is in advanced discussions with Uber, […]
First Class Accounts COVID-19 response
For information regarding what you should be doing to respond to COVID-19 in your home or workplace, please refer to the government websites that are updated regularly. It’s essential to focus on reliable and trustworthy information.https://www.health.gov.au/news/health-alerts/novel-coronavirus-2019-ncov-health-alerthttps://www.health.gov.au/resources/collections/novel-coronavirus-2019-ncov-resources In these uncertain and unprecedented times, being a small business owner is very stressful. We’re so proud of our […]
FASB to discuss effective date deferral requests in response to pandemic
In response to the coronavirus pandemic, FASB will discuss at its April 8 meeting effective date deferral requests for significant accounting standards that are not yet effective. FASB said in a news release issued Wednesday evening that it shares global concerns about the impact of the coronavirus and is committed to supporting and assisting its […]
God goes online as places of worship shut doors to save people
The muezzin calls out the faithful to prayer five times a day. But nobody comes to the mosque. These days, devotees spread out janamaz in the confines of their homes to pray. This, perhaps, is happening for the first time in 1391 years of Cheraman Juma Masjid in Kerala, where an azaan has not beckoned […]
Mounting orders and staff crunch stretch online grocers
Illustration: Rahul Awasthi Online grocers BigBasket and Grofers may be working hard to deliver essentials, but a lack of delivery slots will remain for the next week or two as these e-tailers witness heavy demand from consumers following the ongoing 21-day nationwide lockdown due to the Covid-19 virus outbreak. Both companies have seen demand for […]
Should your clients stop contributing to their 401(k) in a crisis?
Welcome to Retirement Scan, our daily roundup of retirement news your clients may be talking about Should your clients stop contributing to their 401(k) in a crisis?Working clients are advised to continue making contributions to their 401(k)s amid the market slowdown caused by the coronavirus pandemic, according to this article in Motley Fool. That’s because […]
Coronavirus Triggers Special Session for Accounting Rulemaker – Bloomberg Tax
The U.S. accounting rulemaker plans to meet April 8 to discuss pressing accounting questions related to the new coronavirus pandemic. The Financial Accounting Standards Board didn’t mention the current expected credit losses (CECL) accounting standard by name in its announcement Monday evening. But the sudden intervention of Congress into the biggest change to bank accounting […]