Microsoft beats on earnings, stock ticks up

Microsoft stock rose 2% after the company released better-than-expected quarterly earnings and guidance. It’s the ninth straight quarter of double-digit annualized revenue growth, according to FactSet. Ahead of earnings, analysts at Bank of America Merrill Lynch, KeyBanc Capital Markets and Stifel signaled they were expecting annualized Azure growth to fall to about 68%. Microsoft said it had $11 billion in Commercial Cloud cloud revenue, up 39% on an annualized basis. In the fiscal fourth quart


Microsoft stock rose 2% after the company released better-than-expected quarterly earnings and guidance. It’s the ninth straight quarter of double-digit annualized revenue growth, according to FactSet. Ahead of earnings, analysts at Bank of America Merrill Lynch, KeyBanc Capital Markets and Stifel signaled they were expecting annualized Azure growth to fall to about 68%. Microsoft said it had $11 billion in Commercial Cloud cloud revenue, up 39% on an annualized basis. In the fiscal fourth quart
Microsoft beats on earnings, stock ticks up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jordan novet
Keywords: news, cnbc, companies, billion, quarter, growth, stock, beats, business, earnings, cloud, ticks, revenue, azure, analysts, company, microsoft


Microsoft beats on earnings, stock ticks up

Microsoft CEO Satya Nadella reacts during a panel session on day three of the World Economic Forum in Davos, Switzerland, on Jan. 24, 2019.

Microsoft stock rose 2% after the company released better-than-expected quarterly earnings and guidance.

Here are the key numbers:

Earnings: $1.37 per share, excluding certain items, vs. $1.21 per share as expected by analysts, according to Refinitiv

$1.37 per share, excluding certain items, vs. $1.21 per share as expected by analysts, according to Refinitiv Revenue: $33.72 billion, vs. $32.77 billion as expected by analysts, according to Refinitiv

On an annualized basis revenue grew 12% in the fourth quarter of Microsoft’s 2019 fiscal year, which ended on June 30, according to a statement. It’s the ninth straight quarter of double-digit annualized revenue growth, according to FactSet.

Microsoft shares have gained 34% this year, pushing the company past a $1 trillion market cap as investors continue to bet on CEO Satya Nadella’s ability to bolster the cloud business and win deals against Amazon.

Microsoft’s Intelligent Cloud business segment, which includes the Azure public cloud, Windows Server, SQL Server, Visual Studio, GitHub and consulting services, produced $11.39 billion in revenue in the quarter. Analysts polled by FactSet had been expecting $11.02 billion in Intelligent Cloud revenue.

Revenue from Azure increased 64% year over year, the lowest growth rate in at least four years. Microsoft doesn’t disclose exact revenue figures for Azure. The company did say it saw a more large and long-term Azure contracts in the quarter, in line with the past few quarters.

Ahead of earnings, analysts at Bank of America Merrill Lynch, KeyBanc Capital Markets and Stifel signaled they were expecting annualized Azure growth to fall to about 68%. The moderating Azure growth is more about the law of large numbers than falling demand, Stifel analysts led by Brad Reback, who rate Microsoft as a buy, wrote in a note distributed to clients on Sunday.

“Our partner conversations this quarter continued to emphasize Azure’s momentum, which are enabling the company to significantly outpace the overall market’s growth as they see Azure contract commitments seeing significant uplift in terms of contract value and duration,” Goldman Sachs analysts led by Heather Bellini, who have a buy rating on Microsoft stock, wrote in a Thursday note.

The More Personal Computing business segment, which comprises Windows, Surface, Xbox and search, ended the quarter with $11.28 billion in revenue. The FactSet analyst consensus for the segment was $10.99 billion.

Microsoft’s Productivity and Businesses segment, containing Office, Dynamics and LinkedIn, came in with $11.05 billion in quarterly revenue, more than the $10.70 billion FactSet consensus estimate.

The Stifel analysts also highlighted quarterly PC shipment data that IDC released last week, which suggested 4.7% year-over-year growth, partly thanks to increased Intel chip supply. “Net/net, we view these better-than-expected results as a modest tailwind for Microsoft’s Windows business for the quarter,” they wrote.

Microsoft said it had $11 billion in Commercial Cloud cloud revenue, up 39% on an annualized basis. The category includes Azure, Office 365 business subscriptions, Dynamics 365 enterprise software and commercial LinkedIn products.

With respect to guidance, Microsoft’s chief financial officer, Amy Hood, said on a conference call with analysts that the company expects to achieve between $31.7 billion and $32.4 billion in revenue across its three business segments in the fiscal first quarter. The midpoint of $32.05 billion is just above the $32.00 billion Refinitiv estimate.

Hood said the company’s cost of goods for the fiscal first quarter would be between $10.55 billion and $10.75 billion, a range that was below the FactSet consensus estimate of $10.95 billion.

In the fiscal fourth quarter Microsoft acquired Express Logic, announced Azure updates and introduced an Xbox console that has no disc drive.

The company had $5.3 billion in capital expenditures in the quarter, more than in any other quarter in the past four years.

This is breaking news. Please check back for updates.

WATCH: AT&T and Microsoft announce strategic alliance worth more than $2 billion


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jordan novet
Keywords: news, cnbc, companies, billion, quarter, growth, stock, beats, business, earnings, cloud, ticks, revenue, azure, analysts, company, microsoft


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Business groups slam House for passing $15 minimum wage bill

Illegal Pete’s has announced that they will raise minimum wage to $15 per hour nationally. The House of Representative’s decision to pass a bill raising the federal minimum wage to $15 an hour received almost immediate criticism from major business organizations. 582 is the wrong wage at the wrong time, implemented in the wrong way.” Kennedy called instead for “a commonsense approach to minimum wage.” The National Association of Manufacturers also expressed its opposition to the minimum wage inc


Illegal Pete’s has announced that they will raise minimum wage to $15 per hour nationally. The House of Representative’s decision to pass a bill raising the federal minimum wage to $15 an hour received almost immediate criticism from major business organizations. 582 is the wrong wage at the wrong time, implemented in the wrong way.” Kennedy called instead for “a commonsense approach to minimum wage.” The National Association of Manufacturers also expressed its opposition to the minimum wage inc
Business groups slam House for passing $15 minimum wage bill Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: marc rod
Keywords: news, cnbc, companies, president, senate, slam, business, wrong, minimum, house, wage, groups, businesses, passing, 15, bill, small, national


Business groups slam House for passing $15 minimum wage bill

Andres Orellana cooks vegetables at Illegal Pete’s on the Pearl Street Mall in Boulder last December. Illegal Pete’s has announced that they will raise minimum wage to $15 per hour nationally.

The House of Representative’s decision to pass a bill raising the federal minimum wage to $15 an hour received almost immediate criticism from major business organizations.

The groups say the bill, which the Democrat-controlled chamber passed in a 231-199 vote, would be expensive and lead to increased unemployment.

“The House dealt a devastating blow to small businesses today, risking record growth, job creation, and already increasing wages,” Juanita Dugganin, president and CEO of the National Federation of Independent Businesses, said in a statement. The NFIB is the leading advocacy organization for small businesses.

A representative for the restaurant industry also criticized the bill.

“Thousands of restaurant industry employees, leaders and community members have called and emailed Congress to share their concerns about how H.R. 582 would cripple small- and family-owned businesses,” National Restaurant Association spokesperson Sean Kennedy said in a statement. “H.R. 582 is the wrong wage at the wrong time, implemented in the wrong way.”

Kennedy called instead for “a commonsense approach to minimum wage.”

The National Retail Federation likewise emphasized the bill’s potential consequences.

“This unprecedented proposal to increase the minimum wage by 107% is a one-size-fits all approach that would lead to unintended consequences for American workers and the businesses that employ them,” David French, senior vice president of government relations at the NRF, said.

The National Association of Manufacturers also expressed its opposition to the minimum wage increase in a letter to the House before the vote.

“H.R. 582 creates new economic headwinds for manufacturers—ignoring the sector’s investments in skills training, competitive compensation, and generous benefits—all at the expense of millions of American workers,” Patrick Hedren, the association’s vice president for labor, legal and regulatory policy, said.

The NFIB’s Dugganin encouraged the Senate to kill the bill. Indeed, Senate Majority Leader Mitch McConnell is unlikely to bring up the legislation in his chamber. The White House pledged that President Donald Trump would veto it if it made it to his desk.

Increasing the minimum wage to $15 has been a major topic of discussion in the 2020 presidential race, with many Democratic candidates backing the proposal, and will likely remain prominent in the campaign even if the Senate declines to take up the bill as expected.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: marc rod
Keywords: news, cnbc, companies, president, senate, slam, business, wrong, minimum, house, wage, groups, businesses, passing, 15, bill, small, national


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dressbarn to close 53 stores in August, saying the wind down of the business is ‘on target’

Ascena Retail Group on Thursday said the winding down of its Dressbarn business is on target, as it released the locations of 53 stores slated to shut by the end of August. The announcement came amid chatter the business would be forced to file for bankruptcy to break leases. Further, we are current, and expect to remain so, with our vendors and suppliers,” Steven Taylor, Dressbarn CFO, said in a statement. Dressbarn at the end of June announced the first round of locations, a total of 28 stores


Ascena Retail Group on Thursday said the winding down of its Dressbarn business is on target, as it released the locations of 53 stores slated to shut by the end of August. The announcement came amid chatter the business would be forced to file for bankruptcy to break leases. Further, we are current, and expect to remain so, with our vendors and suppliers,” Steven Taylor, Dressbarn CFO, said in a statement. Dressbarn at the end of June announced the first round of locations, a total of 28 stores
Dressbarn to close 53 stores in August, saying the wind down of the business is ‘on target’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: lauren thomas
Keywords: news, cnbc, companies, end, wind, taylor, dressbarn, business, saying, retail, close, ultimately, 53, stores, target, started, store


Dressbarn to close 53 stores in August, saying the wind down of the business is 'on target'

Ascena Retail Group on Thursday said the winding down of its Dressbarn business is on target, as it released the locations of 53 stores slated to shut by the end of August.

The announcement came amid chatter the business would be forced to file for bankruptcy to break leases.

Ascena announced in May that it planned to wind down Dressbarn and ultimately shut all 650 or so of the women’s clothing shops in order to focus on its more profitable brands, like Ann Taylor and Loft.

There has since been some speculation that Dressbarn as a standalone unit would ultimately file for bankruptcy if its landlords didn’t agree to relieve the brand of its lease obligations, as it started shutting hundreds of stores within malls and shopping centers across the country. Retail property owners have already been hit by a massive wave of store closures this year, so any further announcements only add to a backlog of empty space.

But the company on Thursday said everything is going as planned and that all stores are expected to be dark by the end of the year.

“We have received overwhelming landlord support for our plan, which will allow us to implement our wind down in a manner that provides the best recovery for our landlords. Further, we are current, and expect to remain so, with our vendors and suppliers,” Steven Taylor, Dressbarn CFO, said in a statement.

The company said in a press release that it has started working with Gordon Brothers Retail Partners to assist with the store closures, and with Hilco Streambank to look for buyers for Dressbarn’s intellectual property. It also said it’s still receiving “fresh inventory,” but encouraged customers to “shop early for the best selection, and use any outstanding gift cards.”

Malfitano Partners is managing the overall wind down, according to a person familiar.

Dressbarn, which has been around for more than five decades, has struggled to grow in apparel retailing as more women steer toward fast-fashion retailers such as H&M and Zara, off-price chains such as T.J. Maxx and Ross Stores, and even Target. Amazon also continues to take a larger share of the apparel market online.

Dressbarn at the end of June announced the first round of locations, a total of 28 stores, set to close this summer, kicking off the winding-down process.

Ascena shares are down more than 75% this year and trade below $1.

Here’s a complete list of the Dressbarn stores set to close in August, according to the company’s website:


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: lauren thomas
Keywords: news, cnbc, companies, end, wind, taylor, dressbarn, business, saying, retail, close, ultimately, 53, stores, target, started, store


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump’s business allies and over 400 bundlers give his 2020 war chest a boost

US President Donald Trump speaks at a “Make America Great Again” rally at Minges Coliseum in Greenville, North Carolina, on July 17, 2019. President Donald Trump’s allies in the business world and an army of bundlers have been courting executives across the country in an effort to help raise millions of dollars for the 2020 reelection effort. The Trump bundler program was rolled out in May and is being advised by George W. Bush’s former national finance director, Jack Oliver. “Friends are talkin


US President Donald Trump speaks at a “Make America Great Again” rally at Minges Coliseum in Greenville, North Carolina, on July 17, 2019. President Donald Trump’s allies in the business world and an army of bundlers have been courting executives across the country in an effort to help raise millions of dollars for the 2020 reelection effort. The Trump bundler program was rolled out in May and is being advised by George W. Bush’s former national finance director, Jack Oliver. “Friends are talkin
Trump’s business allies and over 400 bundlers give his 2020 war chest a boost Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: brian schwartz
Keywords: news, cnbc, companies, bundlers, program, campaign, president, told, outreach, 2020, 400, trump, allies, trumps, chest, war, donors, miller, executives, boost, raise, business


Trump's business allies and over 400 bundlers give his 2020 war chest a boost

US President Donald Trump speaks at a “Make America Great Again” rally at Minges Coliseum in Greenville, North Carolina, on July 17, 2019.

President Donald Trump’s allies in the business world and an army of bundlers have been courting executives across the country in an effort to help raise millions of dollars for the 2020 reelection effort.

So far, the campaign has recruited at least 400 experienced fundraisers to work with the Trump leadership, according to people with direct knowledge of the matter.

The Trump bundler program was rolled out in May and is being advised by George W. Bush’s former national finance director, Jack Oliver.

“What you need is people who have networks through their synagogues, churches, mosques, businesses and even sports teams,” Oliver told CNBC. “The bundling program is a way for people to drum up support through people who know there have been results with this president.”

Among the executives and lobbyists reaching out to fellow business leaders are:

Real estate magnate Stanley Chera

Atlas Merchant Capital managing director Patrick Durkin

Travis Brown, founder of political consulting firm Pelopidas

Jeff Miller, an energy lobbyist

The donor outreach campaign has been a resounding success. The strengthening of the president’s formidable campaign war chest has led his organization, along with the Republican National Committee, to raise over $100 million in the second quarter.

Miller, the founder of lobbying firm Miller Strategies, bundled over $110,000 in the second quarter for Trump, a Federal Election Commission filing says. While Miller has been identified in a recent FEC filing as an official bundler for the campaign, it’s unclear whether Chera is making calls to financiers as anything more than a favor to a president to whom they’ve been loyal since he entered the White House. Durkin and Brown, according to people familiar with the outreach, have started actively bundling for the campaign.

A senior Trump campaign spokeswoman told CNBC that the success of the bundling program has spread across the country and it’s leading to donors who stayed away from Trump in 2016 to jump on board this time around.

“Friends are talking to friends and working together to help President Trump win reelection in 2020,” the spokeswoman said. “People who have never given a cent to any campaign before or stayed out of the mix last time are coming off the sidelines in droves to support President Trump.”

The White House declined to comment. Chera, Miller and Brown did not return a request for comment.

Democrats, meanwhile, are fighting among themselves to capture donors who will finance a formidable campaign versus Trump in the general election. With these business leaders and influential lobbyists using their networks to rake in donors for the campaign, it could give Trump an insurmountable fundraising advantage over his eventual opponent.

Donors who have agreed to back Trump cite his business-friendly policies such as tax cuts and reduced regulations, while arguing the Democratic Party is going too far to the left. A person familiar with the Trump donor outreach, who spoke on the condition of anonymity, said many of the people making calls to GOP executives are working to raise over $300,000 each.

In another good sign for the president’s fundraising hopes, several financiers who backed Trump’s opponents in 2016 flipped to his side in the previous quarter.

“Fundraisers were divided in 2016. That’s not the case this time.” Republican donor Dan Eberhart told CNBC. “Everybody is behind the president toward the common goal of another four years. Those grumblers about the president don’t like his style but they darn sure like his policies.”


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: brian schwartz
Keywords: news, cnbc, companies, bundlers, program, campaign, president, told, outreach, 2020, 400, trump, allies, trumps, chest, war, donors, miller, executives, boost, raise, business


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Amazon is turning advertising into its next huge business — here’s how

In September, the company simplified its branding, bringing together areas like Amazon Media Group, Amazon Marketing Services and Amazon Advertising Platform under the name “Amazon Advertising.” Here’s how Amazon sells ads, and why it has a natural edge over Google and Facebook in some areas. Sponsored adsDo a product search on Amazon, and you’ll likely notice products with a little “sponsored” label. They appear in video content across Amazon sites (including IMDb), as well as on Amazon devices


In September, the company simplified its branding, bringing together areas like Amazon Media Group, Amazon Marketing Services and Amazon Advertising Platform under the name “Amazon Advertising.” Here’s how Amazon sells ads, and why it has a natural edge over Google and Facebook in some areas. Sponsored adsDo a product search on Amazon, and you’ll likely notice products with a little “sponsored” label. They appear in video content across Amazon sites (including IMDb), as well as on Amazon devices
Amazon is turning advertising into its next huge business — here’s how Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: megan graham
Keywords: news, cnbc, companies, ads, products, brand, amazon, turning, advertisers, ad, heres, product, sites, buy, advertising, search, huge, business


Amazon is turning advertising into its next huge business — here's how

The front desk of the Amazon office is pictured in New York, May 1, 2019. Carlo Allegri | Reuters

If you were browsing Amazon in search of deals for Prime Day, you undoubtedly came across a lot of ads. That’s because Amazon has a trove of information about buying habits that makes it a valuable place for advertisers. Think about it: Amazon knows the last time you bought toothpaste on the site and which brand you typically like to buy. Advertisers can use that information to try to get you to buy their brand of toothpaste right when you’re running low. Other advertisers can use Amazon to target ads, even if they’re selling products that you can’t necessarily buy on Amazon, like insurance or a car. These advertisers can use Amazon’s extensive customer data to figure out who might buy their product or services, and they can use Amazon’s ad products to reach those people, both on Amazon’s properties and through a network of third-party sites. This rich trove of data has made Amazon into the third-largest digital ad platform in the U.S. and a growing contender to take on the digital ad duopoly of Google and Facebook. Earlier this year, eMarketer said it expected Amazon to claim 8.8% of U.S. digital ad spend in 2019, up from 6.8% in 2018, while expecting Google to drop from 38.2% to 37.2%. Meanwhile, Facebook was expected to pull 22.1% of digital ad spend in 2019, up very slightly from 21.8%. Amazon’s net sales in its “other” category, which consists primarily of advertising sales, was $2.72 billion in the first quarter. In September, the company simplified its branding, bringing together areas like Amazon Media Group, Amazon Marketing Services and Amazon Advertising Platform under the name “Amazon Advertising.” Amazon’s ad boss, Paul Kotas, said at the time that the move was meant to make the company’s ad options “simple and intuitive for the hundreds of thousands of advertisers who use our products to help grow their business.” Even with this move, Amazon’s ad business is complicated and can be hard for people outside the industry to understand. Here’s how Amazon sells ads, and why it has a natural edge over Google and Facebook in some areas.

Sponsored ads

Do a product search on Amazon, and you’ll likely notice products with a little “sponsored” label. These are “sponsored products,” or keyword-targeted ads that let advertisers promote certain products. Here, advertisers bid on particular terms, and ads with higher bids are more likely to be displayed. Advertisers pay only when their ad is clicked, and they set the maximum amount they’re willing to pay. This is similar to how search ads work on Google. These ads can show up above, near or within search results, or even on product detail pages. This is “the simplest way to start advertising,” Amazon says on its advertiser-facing website. This is one reason when you’re searching for a certain brand of product like “Clinique lipstick,” you might see non-Clinique products show up first. In a test search on Monday, CNBC saw L’Oreal, Maybelline and Luscious Cosmetics products before a single Clinique product — the first non-sponsored product on the page. This is what some advertisers call “conquesting,” or buying ads against search terms for rival products. It’s a way for Maybelline, for example, to try to get in front of someone looking to browse Dior lipsticks.

A Maybelline Lipstick shows up first after searching for “Christian Dior lipstick” Megan Graham | CNBC

Advertisers can also buy “sponsored brands” listings, which appear in search results to help consumers discover a given brand. For instance, say you search for the term “water bottle” on the site. A brand like Perrier can appear in the top section of the search results to showcase its logo, some writing and a few products. If a customer clicks in that area, they’ll be taken to a product detail page or a customized landing page for that brand. Like sponsored results, this advertising is sold through a cost-per-click, auction-based pricing model — the higher the bid, the more likely the ad is to be displayed.

Amazon’s “Sponsored Brands” Megan Graham | CNBC

One upside of these kinds of ads is they don’t really look like ads to the untrained eye. Goat Consulting, a consulting firm that focuses on brands selling on Amazon, recently did a survey of more than 2,000 Amazon users to see whether they were aware of the difference between organic product display and advertised product display. About half of them said no, said the firm’s chief marketing officer, Will Tjernlund. “People don’t even realize they’re being advertised to on Amazon,” he said. In addition, the buying data from Amazon is so detailed that marketers can save their dollars and not advertise to people who just bought a product and aren’t going to be buying it again soon. Rahil Berani, vice president and director of programmatic at Digitas North America, said for items that can be bought repetitively, advertisers can suppress people who have recently purchased that product since they won’t be in the market for more right away. Once some time has passed and they might be running low, advertisers can ramp up spend again.

Other ad types and Amazon DSP

Amazon also sells “display ads,” which are image ads that could show up as you shop on Amazon or on your Kindle, or as you read an article on a third-party website.

Amazon Display ads Via Amazon.com

There are also video ads, which are pretty self-explanatory. They appear in video content across Amazon sites (including IMDb), as well as on Amazon devices like Fire TV.

An example of an Amazon video ad. Megan Graham | CNBC

Display and video ads don’t necessarily have to be for products sold on Amazon, and can appear both on Amazon and on sites and apps from third parties. For instance, let’s say you’re a bathroom repairman. You might like the information Amazon has to target people who are buying things like grout and hammers. But you can’t sell your repair services directly on Amazon. So Amazon lets you use its data to target the same kinds of customers, both on its site and on other sites. To reach consumers on third-party sites, advertisers can use something called a “DSP,” or a “demand-side platform.” Amazon has its own, called — you guessed it — Amazon DSP. In simple terms, the advertisers figure out what audiences they’d like to reach, then can use the service to reach those people across multiple sites automatically (or “programmatically,” in industry jargon). Amazon says the product is “best suited to advertisers who want to programmatically buy display and video ads at scale.” Amazon lets advertisers very easily see how well their media spend is translating to actual sales using the DSP. Many other e-commerce companies with similar offerings, like Walmart and Target, do not, said Digitas’ Berani. “You’re essentially going to have to put the investment into them and let them do it,” Berani said.

What’s next for Amazon ads


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: megan graham
Keywords: news, cnbc, companies, ads, products, brand, amazon, turning, advertisers, ad, heres, product, sites, buy, advertising, search, huge, business


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

EU to investigate Amazon over possible anti-competitive business practices

EU Commissioner for Competition Margrethe Vestager addresses a press conference on two state aid cases at the European Commission in Brussels on October 4, 2017. EU antitrust regulators will investigate Amazon to determine if the e-commerce giant’s use of merchant data breaches competition rules, the European Commission said on Wednesday. The investigation centers on Amazon’s “dual role” as both a retailer and a marketplace, Vestager said. The European Commission, the executive arm of the EU, be


EU Commissioner for Competition Margrethe Vestager addresses a press conference on two state aid cases at the European Commission in Brussels on October 4, 2017. EU antitrust regulators will investigate Amazon to determine if the e-commerce giant’s use of merchant data breaches competition rules, the European Commission said on Wednesday. The investigation centers on Amazon’s “dual role” as both a retailer and a marketplace, Vestager said. The European Commission, the executive arm of the EU, be
EU to investigate Amazon over possible anti-competitive business practices Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: elizabeth schulze
Keywords: news, cnbc, companies, margrethe, amazon, data, competition, eu, marketplace, business, vestager, commission, european, possible, rules, investigate, anticompetitive, practices


EU to investigate Amazon over possible anti-competitive business practices

EU Commissioner for Competition Margrethe Vestager addresses a press conference on two state aid cases at the European Commission in Brussels on October 4, 2017.

EU antitrust regulators will investigate Amazon to determine if the e-commerce giant’s use of merchant data breaches competition rules, the European Commission said on Wednesday.

Competition Commissioner Margrethe Vestager said the EU opened a formal investigation to see if Amazon uses data from independent retailers who sell on the company’s marketplace to its own advantage. The investigation centers on Amazon’s “dual role” as both a retailer and a marketplace, Vestager said.

“Based on the Commission’s preliminary fact-finding, Amazon appears to use competitively sensitive information – about marketplace sellers, their products and transactions on the marketplace,” the regulator said in a statement.

The European Commission, the executive arm of the EU, began questioning merchants about how Amazon collects their data last year. If the EU determines Amazon breached competition rules, it could fine the company up to 10% of global annual revenues.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: elizabeth schulze
Keywords: news, cnbc, companies, margrethe, amazon, data, competition, eu, marketplace, business, vestager, commission, european, possible, rules, investigate, anticompetitive, practices


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Netflix CEO says the ‘streaming wars’ are good for business

Netflix CEO Reed Hastings doesn’t seem too worried about the influx of competitors into the streaming industry. A phenomenon that has been dubbed “the streaming wars” is a hot topic in the entertainment world. As Disney, NBC and WarnerMedia, among others, gear up to launch their own standalone streaming services, analysts have questioned if Netflix will take a hit. Hastings said Wednesday these streaming wars are a good thing. “The advantage of having something be catchy like ‘the streaming wars


Netflix CEO Reed Hastings doesn’t seem too worried about the influx of competitors into the streaming industry. A phenomenon that has been dubbed “the streaming wars” is a hot topic in the entertainment world. As Disney, NBC and WarnerMedia, among others, gear up to launch their own standalone streaming services, analysts have questioned if Netflix will take a hit. Hastings said Wednesday these streaming wars are a good thing. “The advantage of having something be catchy like ‘the streaming wars
Netflix CEO says the ‘streaming wars’ are good for business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: sarah whitten
Keywords: news, cnbc, companies, ceo, content, tv, net, company, business, million, netflix, good, wars, hastings, streaming, companys


Netflix CEO says the 'streaming wars' are good for business

Netflix CEO Reed Hastings doesn’t seem too worried about the influx of competitors into the streaming industry.

A phenomenon that has been dubbed “the streaming wars” is a hot topic in the entertainment world. As Disney, NBC and WarnerMedia, among others, gear up to launch their own standalone streaming services, analysts have questioned if Netflix will take a hit.

Hastings said Wednesday these streaming wars are a good thing.

“The advantage of having something be catchy like ‘the streaming wars’ is that it draws more attention, and because of that, consumers shift more quickly from linear TV to streaming TV,” Hastings said during the company’s earnings call Wednesday.

After the company’s second quarter earning report Wednesday, shares of the company fell more than 10% as Netflix revealed global net adds of 2.7 million, well below its guidance of 5 million. Still, Netflix forecast 7 million global paid net adds for the next quarter.

The company blamed price hikes and a lackluster slate of new content for the lower-than-expected subscriber growth. However, Netflix has said that the third quarter’s content, including the recently released third season of “Stranger Things,” will help turn the tide.

Netflix has acknowledged it will soon lose two of its most-watched shows, “The Office” and “Friends,” but that not having these costly programs will free up the company’s budget and allow it to spend more on its own original content.

“I think everybody gets that people will subscribe to multiple [platforms],” Hastings said. “I’d wager that most Netflix employees are HBO subscribers. We love the content they do and that spurs us on to want to be even better.”

“Competition grows the industry,” he said.

Disclosure: Comcast is the parent company of NBCUniversal and CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: sarah whitten
Keywords: news, cnbc, companies, ceo, content, tv, net, company, business, million, netflix, good, wars, hastings, streaming, companys


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

When former president Jimmy Carter left office, his peanut business was $1 million in debt

When President Jimmy Carter left the White House in 1981, he was 56 years old and deep in debt. His peanut business, which sold certified seed peanuts and other farm supplies, was $1 million in the red by the time he finished his term, The Washington Post reports. When he left office in debt, “we thought we were going to lose everything,” Carter’s wife Rosalynn told the Post. Forced to sell the company, Carter started writing books to generate income. In 2017, Carter got more than $230,000 in su


When President Jimmy Carter left the White House in 1981, he was 56 years old and deep in debt. His peanut business, which sold certified seed peanuts and other farm supplies, was $1 million in the red by the time he finished his term, The Washington Post reports. When he left office in debt, “we thought we were going to lose everything,” Carter’s wife Rosalynn told the Post. Forced to sell the company, Carter started writing books to generate income. In 2017, Carter got more than $230,000 in su
When former president Jimmy Carter left office, his peanut business was $1 million in debt Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: kathleen elkins
Keywords: news, cnbc, companies, president, peanut, debt, reports, wife, jimmy, office, million, writing, white, left, carter, farm, business


When former president Jimmy Carter left office, his peanut business was $1 million in debt

When President Jimmy Carter left the White House in 1981, he was 56 years old and deep in debt.

His peanut business, which sold certified seed peanuts and other farm supplies, was $1 million in the red by the time he finished his term, The Washington Post reports. Carter had been managing the family-owned peanut farm, warehouse and store in Plains, Georgia, since his dad died in 1953, but when he became president, he put it into a blind trust to avoid conflicts of interest.

When he left office in debt, “we thought we were going to lose everything,” Carter’s wife Rosalynn told the Post.

Forced to sell the company, Carter started writing books to generate income. Today, the 94-year-old has published more than 30, from a children’s book to reflections on his presidency.

As a former president, he also receives an annual pension of about $210,000 and an allowance for things like travel, office space and other expenses. In 2017, Carter got more than $230,000 in such allowances, the National Taxpayers Union Foundation reports.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: kathleen elkins
Keywords: news, cnbc, companies, president, peanut, debt, reports, wife, jimmy, office, million, writing, white, left, carter, farm, business


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Europe will reportedly launch a major probe into Amazon’s business practices in days

The European Union’s antitrust chief is planning to open a formal investigation into Amazon in coming days, Bloomberg reported Tuesday, citing sources familiar with the case. The investigation itself does not come as a surprise, as EU Competition Commissioner Margrethe Vestager had already launched a preliminary probe into Amazon in September and was expected to announce whether a full probe would take place. The preliminary investigation focused on how Amazon uses data on its third-party mercha


The European Union’s antitrust chief is planning to open a formal investigation into Amazon in coming days, Bloomberg reported Tuesday, citing sources familiar with the case. The investigation itself does not come as a surprise, as EU Competition Commissioner Margrethe Vestager had already launched a preliminary probe into Amazon in September and was expected to announce whether a full probe would take place. The preliminary investigation focused on how Amazon uses data on its third-party mercha
Europe will reportedly launch a major probe into Amazon’s business practices in days Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: lauren feiner
Keywords: news, cnbc, companies, days, office, probe, business, investigation, vestagers, european, reportedly, reported, vestager, preliminary, practices, amazon, major, launch, amazons, europe, data


Europe will reportedly launch a major probe into Amazon's business practices in days

The European Union’s antitrust chief is planning to open a formal investigation into Amazon in coming days, Bloomberg reported Tuesday, citing sources familiar with the case.

The investigation itself does not come as a surprise, as EU Competition Commissioner Margrethe Vestager had already launched a preliminary probe into Amazon in September and was expected to announce whether a full probe would take place. The preliminary investigation focused on how Amazon uses data on its third-party merchants that sell through Amazon.

Vestager explained the key questions she had about Amazon’s business model in a September interview with CNBC.

“They host a lot of little guys, and at the same time, they’re a big guy in the same market,” Vestager said. “So how do they treat the data that they get from the little guy? Does that give them an advantage that cannot be matched?”

The probe follows a crackdown on Big Tech under Vestager’s time in office. During her term, the European Commission has slapped Google with a combined $9.5 billion in antitrust fines since 2017 and authorities across the region have scrutinized Apple and Facebook for their competition and data practices. The reported Amazon investigation follows news that Vestager’s office plans to fine Qualcomm more than $1 billion for allegedly trying to prevent other chipmakers from gaining business from Apple, according to Bloomberg.

A spokesperson for the European Commission declined to comment. Amazon and did not immediately return a request for comment.

Subscribe to CNBC on YouTube.

Watch: An inside look at how Amazon Prime Now delivers food and household items in less than two hours


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: lauren feiner
Keywords: news, cnbc, companies, days, office, probe, business, investigation, vestagers, european, reportedly, reported, vestager, preliminary, practices, amazon, major, launch, amazons, europe, data


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

These are the best places to launch a small business in America

They got hooked on doing business in the state after moving the start-up to Houston to participate in an accelerator there. Alec Manfre co-founded Bractlet and moved the start-up to Texas to tap the state’s talent pool. It’s not surprising that Manfre has found a lot to love about doing business in Texas — which finished second in CNBC’s 2019 America’s Top States for Business ranking. Abundant talentStates with a strong university system have an edge in an increasingly knowledge-based economy. 1


They got hooked on doing business in the state after moving the start-up to Houston to participate in an accelerator there. Alec Manfre co-founded Bractlet and moved the start-up to Texas to tap the state’s talent pool. It’s not surprising that Manfre has found a lot to love about doing business in Texas — which finished second in CNBC’s 2019 America’s Top States for Business ranking. Abundant talentStates with a strong university system have an edge in an increasingly knowledge-based economy. 1
These are the best places to launch a small business in America Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: elaine pofeldt, susan caminiti
Keywords: news, cnbc, companies, texas, strong, tech, business, states, florida, capital, technology, places, america, talent, university, launch, small, best


These are the best places to launch a small business in America

Richard Cummins | Getty Images

Alec Manfre co-founded the tech start-up Bractlet as a student in Atlanta where he went to college, then ran it from an incubator in Santiago, Chile. But it was Texas where he and his two co-founders ultimately put down roots. They got hooked on doing business in the state after moving the start-up to Houston to participate in an accelerator there. Bractlet makes a technology that helps commercial real estate owners evaluate their buildings’ energy infrastructure. The entrepreneurs were excited about the deep expertise in energy that existed in the city. Twenty-person Bractlet has since moved to Austin, where its lead investor, a venture capital firm, is located. Thanks to the presence of schools such as University of Texas, the company has been able to find plentiful skilled talent, both within Austin and from cities such as Dallas, Houston and San Antonio, says Manfre. Adding to the lure of doing business in Austin, he says, is the active start-up crowd; community groups centered on energy efficiency; and events like the movie, music and tech festival SXSW.

Alec Manfre co-founded Bractlet and moved the start-up to Texas to tap the state’s talent pool. Shlomo Morgulis

“There are always connections to be made and communities being built — and there’s a strong emphasis on technology and investment,” says Manfre. “That’s a really powerful combination for us.” Oh, and the active outdoor culture doesn’t hurt, either. “Yesterday we were doing wakeboarding on a recreational lake 15 minutes away,” he says. It’s not surprising that Manfre has found a lot to love about doing business in Texas — which finished second in CNBC’s 2019 America’s Top States for Business ranking. Known for its low-tax environment — there’s no personal income tax or corporate income tax — business-friendly regulatory climate and innovation-focused economy, Texas has many champions in the business community. “It’s simply easier to do business in Texas than any other state,” says Bob Harvey, president and CEO of the Greater Houston Partnership, an economic development organization. But it’s not solely a low-tax, low-regulation environment that makes a state great for business. Some states have a completely different playbook for success that works for them. High-tax, highly regulated environments haven’t kept California’s Silicon Valley, the Rte. 128 Tech Corridor in Massachusetts or New York’s Silicon Alley from spawning innovation or attracting venture capital. These states owe their economic health to other factors, like excellent access to capital for their start-ups and dominance in particular industries. California, for instance, has its thriving film and aerospace industries. “California gets away with a horrible business climate because it’s got such strong industries,” says Steve King, a partner at Emergent Research, which studies small business trends out of Lafayette, California. Recognizing there’s no magic formula for building a thriving business community, CNBC’s 2019 America’s Top States for Business scores the states on 64 metrics across 10 main categories: their economy, workforce, infrastructure, cost of doing business, quality of life, education, technology and innovation, business friendliness, access to capital and cost of living. Here is a look at some of the qualities that are helping states foster entrepreneurial business growth.

Abundant talent

States with a strong university system have an edge in an increasingly knowledge-based economy. Florida (No. 12 on the list), for instance, has more than 60 universities around the state churning out well-educated graduates, among them the University of Florida, University of Central Florida and University of South Florida. The strong talent bench is fueling the growth of sectors such as cybersecurity, technology and finance and attracting venture capital, according to Craig Richard, president and CEO of the Tampa Hillsborough Economic Development Corp. “They are cranking out a lot of innovation and patents around cybersecurity,” says Richard. “That’s one of our fastest-growing tech sectors.” It’s not the only technology niche where Florida’s economy is percolating, thanks to the state’s deep pool of STEM-educated talent. Luminar Technologies, a fast-growing Silicon Valley-based start-up backed by Peter Thiel makes lidar-based sensors for vehicles. It established its R&D and manufacturing base in Orlando last year — and now about 265 of its roughly 370 employees work out of Orlando, according to the company’s chief business officer, Scott Faris.

Luminar’s co-founder Jason Eichenholz knew there was a concentration of specialized engineering talent in the area as an alum of the University of Central Florida’s Center for Research and Education in Optics and Lasers. Many engineers in the state’s aerospace industry had already worked on similar technology for laser-guided missiles. The company wanted to take advantage of that knowledge base. “There is no place in the universe where you have the density of talent in the lidar and sensing space that you do in Orlando,” says Faris. “It’s got a rich history and density of people who understand all aspects of this. We’re able to attract those folks into the organization.”

Quality of life

With unemployment at record lows and the talent wars accelerating, many business leaders realize it’s easier to recruit if they open their offices in places where workers want to live because of fantastic schools, a great arts scene, hot restaurants or easy access to parks and outdoor activities. “More companies are looking at the quality of life and eco-friendliness,” says attorney Andrew Sherman, a partner in Seyfarth Shaw in Washington, D.C., who advises both entrepreneurs and corporate businesses and is author of many books on entrepreneurship. “The state of Washington, for instance, has done a nice job of marketing their assets to small and midsize businesses, saying, ‘Not only do we have good universities and human capital but we have beautiful cities with access to the Pacific. ” Similarly, employers in Colorado have found that it’s not hard to entice recruits from other states to move to up-and-coming outdoor-oriented cities such as Denver, Colorado Springs, and Boulder, known for its thriving tech and natural-foods industries.

Denver’s economy is solid, and it has a strong, educated workforce. It also has the nation’s fourth-largest concentration of science, technology, engineering and math (STEM) employees. photoquest7 | iStock | Getty Images

“I think our quality of life is an important contributor,” says Dirk Draper, president and CEO of the Colorado Springs Chamber and EDC. “Entrepreneurs and innovators may be working on their own or in small groups where they can make a decision more on a quality of life factor that adds spice to our community mix. They come here for the lifestyle.”

Taxes

A favorable regulatory environment

As technology upends many industries, a regulatory climate that allows for innovation is essential, say many business leaders. Tim Giuliani, president and CEO of the Orlando Economic Partnership, points to the bill Florida Gov. Ron DeSantis signed in June on autonomous vehicles. It allows the Florida Turnpike Enterprise to fund, construct and operate test facilities to advance autonomous and connected transportation technology. That will be a big advantage for businesses in this field, he believes. “It sends a signal that Florida is willing to continue to change its regulatory environment to adapt to new technologies,” says Giuliani.

TriggerPhoto | iStock Unreleased | Getty Images

That’s not to say that the business community wants a zero-regulation environment. “Sometimes government regulation can be a positive — but if it’s done too much, I’d be concerned,” says Elie Rieder, founder and CEO of Castle Lanterra Properties, a firm in Suffern, New York, that invests in multifamily real estate around the country and is affected by regulations such as rent stabilization laws.

Infrastructure


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: elaine pofeldt, susan caminiti
Keywords: news, cnbc, companies, texas, strong, tech, business, states, florida, capital, technology, places, america, talent, university, launch, small, best


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post