Tuesday, May 18, 2021

Category: Business news

Amazon provides the FBI with a shopping record for an “Antiva” activist.

Anyone who remembers the chaos of the “Unite the Right” march in Charlottesville, Virginia in 2017, certainly also remembers the violence that erupted between the protesters, who were supporters of the right-wing and the extreme left.

One of the suspects in these fights was a girl named Lindsay Moers, an alleged affiliate of the left-wing anti-fascist “Antifa” movement. In an Instagram video reviewed by FBI agents, she is seen beating two people with hostility. She was there, according to the government, in opposition to protesters who stood in Virginia city to express their “right-wing” and “white supremacy” views, according to a search warrant on her Twitter accounts first filed in 2019, which was implemented earlier this month. Just.

Footage from the video showed a woman in black clothes beating a man in the back of his head. The FBI also saw video footage released by the ACLU of the incident to verify the attack.

Investigators said it appeared from other footage that Moers was running in support of an opposition protester who tried to steal the American flag from the “Unite the Right” demonstrators only to end up in a physical altercation. The FBI said Moyers was also seen hitting a man with a stick.

The decision to search Moers’ Twitter accounts included more information about her other online accounts that the FBI had raided before. When law enforcement reviewed these clips, investigators noticed the weapon used and wondered where you got it. After getting her Facebook data, messages from 2017 were discovered indicating unspecified online requests. So they went to Amazon and requested the logs associated with her Gmail account. In response to the memo, Amazon provided a list of Moers’ past shopping requests containing a stick, pepper spray, and stun gun, which it purchased in 2015, two years before the alleged crimes, according to FBI testimony.

Square announces plans to acquire majority ownership in Tidal

Square Inc. (NYSE: SQ) today announced that it has entered into a final agreement to acquire a majority ownership interest in Tidal, a global music and entertainment platform that brings fans and artists together through music and content. And unique experiences. Square expects to pay a mix of cash and stocks worth $ 297 million for the majority shareholding, and the artists’ current shareholders will be the remaining stakeholders. Tidal will operate independently within Square Corporation, along with the Sealer and Cash Up application systems.

This acquisition broadens Square’s goal of economic empowerment into a new field of musicians. Artists are dreaming entrepreneurs who deserve access to the systems, tools, and financial freedom needed to fulfill their dreams at every stage of their careers. Square has helped millions of companies launch, operate, and grow by providing them with the tools necessary to achieve the desired success. Thanks to the Cash Up app, Square makes financial services relevant and available to millions of underserved customers who have long been classified as historically ineligible. Square seizes the opportunity to leverage these lessons to help musicians find new ways to support their business and make better decisions through the Tidal platform.

“It boils down to one simple idea of ​​finding new ways for artists to support their work. New ideas are created at the meeting points, and we think the catchy idea combines music and economics,” said Jack Dorsey, co-founder, and CEO of Square. I realized that Tidal is special once I tested it, and it will remain the best home for music, musicians, and culture. “

Alibaba’s profits would have reached 48% had it not been for the fines imposed on it by China

Alibaba shares plunged 4% in Hong Kong on Friday, tumbling nearly 33% from their peak in October. The company’s share fell 6.3% in New York after the announcement, down 35% from its peak in the same month of last year, after the company announced its first quarterly operating loss since it went public after it was subjected to a large fine imposed by anti-trust authorities in China.

The large Chinese e-commerce company posted an operating deficit of 7.7 billion yuan ($ 1.2 billion) for the fourth quarter ended in March. The loss came after Alibaba paid the highest-ever Chinese fine of 18.2 billion yuan ($ 2.8 billion) for engaging in monopolistic business practices. The technology company said it would have reported a 48 percent increase in operating income year-on-year at 10.6 billion yuan ($ 1.6 billion) without the penalty. The operating income for the full year was 89.68 billion yuan (14 billion dollars), down 2 percent year on year.

The corporate penalty was also reflected in the final result of Alibaba, as the large Hangzhou-based company saw a net loss of 5.5 billion yuan in the three months ending in March. It recorded a full-year net income of 150.3 billion yuan (23.3 billion dollars).

“During the past fiscal year, we faced all kinds of challenges, including the COVID-19 pandemic, fierce competition as well as antitrust investigation and sanction decision by Chinese regulators,” Chief Executive Daniel Chang said during the earnings announcement on Thursday. “We believe the best way to overcome this challenge is to look forward and invest in the long term,” he adds.

Alibaba reported better-than-expected revenue of 187.4 billion yuan in the fourth quarter of the fiscal year, up 64 percent year-on-year. Full-year revenue jumped 41 percent to 717.3 billion yuan ($ 111 billion).

Behind the growing number was the company’s core e-commerce business, which saw a total merchandise value of about 7.49 trillion yuan ($ 1.1 trillion) in the retail markets for the 2021 fiscal year. Alibaba Cloud, the affiliate cloud computing company, also contributed a 50% rise in revenue. On an annual basis, at 60.12 billion yuan (9.3 billion dollars). Alibaba said it expects to increase its revenue to 930 billion yuan in the fiscal year 2022.

Alibaba shares have been under pressure since its billionaire founder Jack Ma criticized China’s financial regulators during a high-profile speech at a financial forum in October. Authorities quickly took action against the large e-commerce company, including the sudden suspension of its $ 35 billion initial public offerings (IPO) of its subsidiary Ant Group.

Ant Group contributed 7.2 billion yuan ($ 1.1 billion) to Alibaba’s profits in the three months ending in March. Based on Alibaba’s 33% stake in Ant, the fintech unit reported a profit of 21.8 billion yuan in the December quarter, up 49.7% from the previous quarter.

In April, China’s central bank said that Ant must be restructured into a financial holding company, which means it will be subject to stricter regulatory controls.

Services That Can Help Your Business Thrive

One of the biggest mistakes small business owners make is thinking that the best way to push their business forward is to take control of every little thing. Although staying aware and on top of every facet of your business is wise, it’s important to find balance, delegate, and take advantage of business services. After all, passing work on to others puts you in a great position to conserve your time and energy for the parts of your business that need you most. 

That said, it’s important to find services you can trust to make a real difference for your business. Mecrofone has created this list of useful services that you can use to make life easier for you and your business. Let’s get started: 

LLC Formation 

If your business will take on any financial risk — including loans — you should consider forming a limited liability company, or LLC. This designation creates a layer of legal separation between your business assets and your personal assets. Although this does mean taking extra care to avoid using personal funds on business needs (and vice versa) it also protects your personal assets such as property and savings from litigation, debt collection, and more. 

That said, forming an LLC is a tedious process. It’s not especially challenging, but it can take a lot of time and low-level effort. This is, for business owners, as bad a time investment as it can get. It doesn’t make use of your talents, and it takes up energy you could put toward more challenging work. Hiring a formation service can help you get this work knocked out and conserve your time for the important stuff. 

Project Management 

Another major hurdle many business owners face is figuring out how to keep track of all the work they need to do to keep their company moving forward. After all, running a business is multifaceted work, and many business owners have never had to keep so many projects organized at once. That’s where project management services can come in handy. 

Project management can help you keep your tasks in order so you can easily figure out what needs to be done and when. There are several approaches you can take to project management services. You can use a Software as a Service tool to help you create checklists, group tasks into projects, and organize your tasks on a calendar. This is a great option for people who just need a little bit of structure to get their schedules together. 

If you need a little bit more help, or just want an extra mind on your work, you can look into hiring an assistant. Someone who has task management experience can be an extremely useful asset when it comes to keeping your business on track. They can do the work of keeping your schedule, noting upcoming deadlines, and tracking progress on different projects. This way you can focus your energy on the work itself. 

Cloud Storage 

Finally, every company should have some sort of cloud storage service to keep their data safe, secure, and accessible. In our ever-connected age, being able to easily access the info you need to run your business is invaluable. Cloud data storage allows you to access info, no matter where you are, from any device. It can also make it easier to share documents and information when needed. 

On the flip side, cloud storage is also a great security tool (as long as you go with a trustworthy company). Your data will be securely stored and encrypted so that only the people who should access it can. This is especially useful for storing backups and keeping your data safe from mistakes and malicious attacks alike. 

These services are all tailored to make your job as a business owner easier and more effective. We hope that we help you discover the service that helps you create the future you want for your business! 

Looking for more business news? Take a look at Mecrofone’s recent posts

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$ 41 billion in cloud computing expenditures in the first quarter of 2021

Global expenditures on cloud computing have reached new record levels, exceeding $ 40 billion in the first quarter of this year, in light of the big boom since the start of the Corona pandemic, according to a study published by Canalys.

Companies and institutions that use servers and data-processing services that have become essential to the work of the Internet spent $ 41.8 billion between January and March, an increase of 35% compared to the same period last year.

The global health crisis was reflected in the growth of the activities of major digital platforms, from e-commerce to remote work, through entertainment sites and applications, which are services that depend on cloud computing systems.

Analyst Blake Murray said in comments reported by “Canalys” that “cloud computing is imposing itself as profitable in all sectors combined last year, since the start of the pandemic and the start of the lockdown measures.”

“Organizations rely on digital services and their online presence to maintain their operations and adapt to the situation,” Murray added.

Warren Buffett’s Berkshire reports first-quarter profit of $ 7 billion

Berkshire Hathaway’s first-quarter profit rose 20%, recording $ 7.02 billion (about $ 4,600 per Class A share), compared to $ 5.87 billion in the first quarter of 2020.

Stock buybacks
The affiliate of billionaire Warren Buffett confirmed, Saturday, that its results are recovering from the repercussions of Covid-19, indicating that it has expanded its share buybacks through new buybacks of $ 6.6 billion, while Berkshire has repurchased $ 24.7 billion of its shares in last year.

From March 31 to April 22, Berkshire also bought more than $ 1.2 billion in shares that had previously sold.

The company’s net income was $ 11.71 billion during the first quarter of this year, or $ 7,638 per Class A share, compared to a net loss of $ 49.75 billion, or $ 30,653 per share, in the same period in 2020.

Warren Buffett, CEO of Berkshire Hathaway, speaks to the press as he arrives at the 2019 annual shareholders meeting in Omaha, Nebraska, May 4, 2019. (Photo by Johannes EISELE / AFP) (Photo credit should read JOHANNES EISELE/AFP via Getty Images)

It is noteworthy that the Berkshire Accounting Rules “require reporting gains and losses on shares that you own, even if you do not make buying and selling operations.”
Profit before taxes from retailers such as Nebraska Furniture Mart and See’s Candies doubled, as Berkshire car dealerships sold more cars and some results surpassed pre-pandemic levels despite supply chain disruptions.
Berkshire explained that Precision’s quarterly revenue has decreased by 36%, estimating that revenue and profits will remain “relatively low” in 2021 because it is “unlikely that aircraft production will grow significantly”.
Class A shares of Berkshire closed at $ 412,500, Friday, after hitting their highest level the day before trading.
Forbes estimates the wealth of the American billionaire, Warren Buffett, at $ 103.7 billion, as of May 1, 2021, and he is ranked sixth in the world in the list of the richest billionaires.

Toyota introduces 15 new electric cars by 2025

Toyota announced the launch of 15 models of battery-powered electric cars worldwide by 2025, to expand the company’s electric vehicle lineup to achieve carbon neutrality before 2050.

The company said it would increase the number of its electric models to about 70 from the 55 currently on the market.

Japan’s Toyota Motor Corp. indicated a shift in its stance on climate change on Monday, saying it would review its pressure and be more transparent about the steps it is taking, as it faces increasing pressure from environmental activists and investors.
The automaker came under scrutiny after siding with the Trump administration in 2019 in an effort to stop California from setting its own fuel-efficiency rules. “We will review the public policy participation activities through our company and industry associations to ensure that they are in line with the long-term goals of the Paris climate agreement,” Toyota said in a statement, adding that the measures will be announced by the end of this year.

The automaker also confirmed that it “will strive to provide more information so that stakeholders can understand its efforts to achieve carbon neutrality.”

Four funds with asset management are pressuring about $ 235 billion on Toyota ahead of its annual shareholder meeting in June to support international efforts to prevent global warming.
“This move should not be a PR exercise, but rather it signals a clear end to its role in the negative climate pressure that has given it a backward status,” CEO of the Danish Pension Fund AkademikerPension told Reuters.

A Danish pension fund spokesman, Troels Boreleld, said AkademikerPension will consider preparing a shareholder resolution to present at next year’s annual general meeting if “Toyota fails to fulfill its obligations”. The fund will consider selling its Toyota holdings if there is no change, but the spokesman said the fund officials did not think it would reach this point.

Munch Holst noted that “thus far, the company has repeatedly undermined climate action, from opposing the UK government’s ban on internal combustion engines by 2030 to opposing auto fuel economy standards in the United States.”

A Toyota spokeswoman told Reuters it would need more time to respond to Munch Holst’s comments. Other investors are the Church of England Pensions Board, Swedish AP7, and Norwegian Storebrand (STB.OL).

$ 900 billion, a growth in consumer spending to buy online after Covid-19 … How has the Middle East been affected?

Covid-19 has raised consumer spending in the electronic retail sector by $ 900 billion globally after the epidemic changed the behavior of people who had to stay at home and prompted them to boost online purchases.

The percentage of e-commerce out of total retail sales in the Middle East and Africa increased to 4.6% during the height of the pandemic, compared to 2.2% before the crisis.

The UAE witnessed an increase in consumer spending online during the year 2020, mainly driven by the increase in the number of electronic stores by 21% year-on-year, in addition to the increase in the number of e-commerce partners by 44% compared to 2019, according to the “Recovery Visions: E-Commerce” report issued by Master Card.

Covid-19 has accelerated the shift to e-commerce spending in markets such as the UAE and the United States, which have already started promoting digital transformation, along with countries that were in the early stages of the digital transformation of retail, such as Egypt and Brazil.

The online purchase rate of people residing in Saudi Arabia increased by 33% over the average over the past year, and the levels of electronic purchase in the UAE increased by 21%, in Russia by 29%, and in the United Kingdom by 22%.

E-commerce accounted for approximately one dollar out of every five dollars spent on retail, last year, while it was a dollar of every seven dollars spent in 2019, as e-commerce represented a lifeline for the retail sector. Face-to-face interaction, fearing the spread of the epidemic.

The report predicts that between 20% and 30% of the shift in online shopping related to Covid-19 will be permanent, even after the epidemic subsides.

Core retail sectors such as grocery, which held the smallest digital share before the crisis, saw some of the biggest gains as consumers adapted to buying online.

Two-thirds of online purchases in Saudi Arabia are made through websites based in the Gulf region instead of global platforms such as American Amazon and Chinese Alibaba, while Egyptians who shop online prefer Arab websites, according to a recent report issued last month by UNCTAD titled “Covid-” 19 and e-commerce. ”

E-commerce sales in the Middle East and Africa are currently stable at 2.4% of retail sales in the region after Covid-19 caused it to rise to 4.6% during the height of the epidemic, while it was at 2.2% before the crisis.

The proportion of e-commerce from retail sales in Europe increased to 11.6% during the height of the epidemic, compared to 7.5% before the crisis and 8.5% now.

E-commerce represented 11% of retail sales in the United States before the spread of Covid-19, but it rebounded to represent 22% at the height of the epidemic, to currently settle at 17%.

The proportion of e-commerce from retail sales in the United Kingdom increased to 31.3% during the spread of Covid-19, compared to 21.8% before the outbreak of the epidemic, when it stabilized at 24.1% during the current period.

Global consumer spending on e-commerce rebounded by 25-30% during the outbreak – from March 2020 to February 2021, in a year-on-year comparison, as the volume of sales increased and the number of different countries in which shoppers placed electronic orders.

The report suggested that groceries will be at the top of the sectors that will continue to benefit from the digital transformation in the field of e-commerce during the coming period, as only 7% of global grocery stores have electronic stores, but with the spread of Covid-19, the sector has rebounded. For example, a fifth of online grocery store shopping is currently taking place, as a result of pandemic-related closures.

The share of e-commerce in total global retail trade increased from 14% in 2019 to 17% in 2020, due to the digital transformation that Covid-19 has promoted, according to the United Nations Conference on Trade and Development (UNCTAD).

The Swiss luxury watch sector is at the forefront of digital transformation due to the pandemic

To keep the Geneva Luxury Watch Fair on schedule after it was canceled last year due to the pandemic, the organizers of this year’s landmark annual event for industry professionals chose a radical solution: to hold the exhibition in a fully virtualized version, at a time when the luxury Swiss watch sector is facing the increasing popularity of smartwatches.

Fans of fine watches can watch their screens to watch the “Watches & Wonders” platform, in order to discover the latest innovations from the 38 international brands participating in the event, which will continue until April 13th.

The event this year is full of remarkable products, including “Chanel” watches in bright colors inspired by the world of electronic music in the 1990s, a “Rolex” watch with a disc made of meteorite debris, and a bracelet made of a new material composed of 40% of plant materials from the remains of used apples In the food industry in one of the classic “Cartier” models, which is in the process of the recycling economy.
Edouard Milan, president of Swiss watch manufacturer H. Moser, said that this virtual version of the exhibition was “a good opportunity for learning”.

Milan expects that virtual events will be organized on a large scale in the future, even after the pandemic is closed. “This will never replace exhibitions and contracts signed personally. But it is in line with the requirements of the times,” he says.

Delivered around 180,000 cars … a strong start for Tesla in 2021

Tesla announced, Friday, that it delivered 184 thousand and 800 cars in the first quarter of 2021, exceeding analysts’ expectations of about 7 thousand vehicles.

The Axios website stated that these results constitute more than double the vehicles that the electric vehicle manufacturer delivered at the same time last year, which is a strong start this year.

Despite the significant decline in the global economy due to the Corona pandemic, and many sectors were affected as a result of the repercussions of that crisis, the new figures confirm that Tesla has achieved record profits in light of that.

The site pointed out that it is unclear how the global shortage of chips will affect the electric car industry, including Tesla, as many companies around the world have been forced to extend the scope of production cuts.

The Corona pandemic has caused an increase in demands for chips used in the production of smartphones, televisions, and computers, as consumers try to make their long home lives somewhat bearable, allowing less capacity to achieve a more than expected recovery in vehicle demand.

On the other hand, despite the unprecedented records of wealth accumulation achieved by Tesla CEO, Elon Musk, in 2020, he was quickly hit by losses since March 8, after his company’s shares declined in the context of a wave of selling of shares of technology companies. Green.

Musk’s fortune fell to $ 156.9 billion, to move him to second place on the “Bloomberg Rich Index”, after Jeff Bezos topped it with an increase of nearly $ 20 billion, to become the richest person on the planet last week.

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