December 4, 2020

Business News

Sir Philip Green’s retail empire is facing collapse within days, putting 15,000 jobs at risk and bringing the curtain down on the high street career of one of Britain’s most controversial businessmen.

It is understood that Arcadia Group – which owns TopShop, Burton and Dorothy Perkins – is preparing to appoint administrators from Deloitte as soon as next week.

One retail industry figure said Arcadia’s collapse had become inevitable after talks with a number of lenders about an emergency £30m loan ended without success.

The appointment of administrators could happen as early as Monday, although one person close to the situation said the plan had yet to be finalised and that it could yet be delayed.

If the insolvency is confirmed, it is expected to trigger a scramble among creditors to get their hands on the company’s assets.

It would involve Arcadia’s online operations and the stores which are … Read the rest

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Congress is bracing for President-elect Joe Biden to move beyond the Trump administration’s state-by-state approach to the COVID-19 crisis and build out a national strategy to fight the pandemic and distribute the eventual vaccine.

The incoming administration’s approach reflects Democrats’ belief that a more comprehensive plan, some of it outlined in the House’s $2 trillion coronavirus aid bill, is needed to get the pandemic under control. Republicans have resisted big spending but agree additional funding is needed. With the nation on edge but a vaccine in sight, the complicated logistics of vaccinating hundreds of millions of Americans raise the stakes on the major undertaking.

“We have an incredible challenge on our hands,” said Sen. Patty Murray of Washington state, which is approaching the anniversary of its first reported case of the virus last January.

A vaccine can only go so far, Murray warned, without a distribution plan. “A vaccine can … Read the rest

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“Success is about elevating others. If I can do that with great health, compassion, and some humour then that’s a job well done,” asserts Saana Azzam, whose expertise lies in the art of high-powered public speaking. Currently, Saana is the Founder and Chief Inspiration Officer of the leading speaker’s bureau in the Middle East called MENA Speakers. MENA Speakers: Empowering & Educating MENA Speakers is a UAE based MCs and Speakers Bureau that educates, engages, and empowers by connecting speakers, MCs, and trainers to events, companies, and governments around the world. The company received the Best Speakers’ Bureau award in the Middle East in 2019.

Behind the Journey

Saana pursued her Master’s in Economics from the esteemed Stockholm School of Economics. Her adept skills and knowledge in market analysis, investments, research, and finance has earned her the prestigious title of ‘Female Economist of the Year’. She … Read the rest

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By Michael Angelo S. Murillo

The TNT Tropang Giga booked a spot in the finals of the PBA Philippine Cup following their 91-81 victory over the Phoenix Super LPG Fuel Masters in their semifinal rubber match on Friday at the Angeles University Foundation Sports Arena in Pampanga.

The steadier team throughout the match, TNT frustrated Phoenix on its way to barging into the championship of the Philippine Basketball Association All-Filipino Cup, where it was last in seven years ago.

Ray Parks Jr. led the way for the Tropang Giga in the win, churning out all-around numbers of 26 points, 10 rebounds and six assists.

The contest got off to a competitive start, with the teams knotted at 10-all midway into the opening quarter, before TNT sprinted to build a 25-20 lead at the end of the first 12 minutes.

In the second quarter, offense tapered off a bit as defense … Read the rest

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Spanish lender Banco Sabadell has said it will consider options for its UK bank TSB after it called off a planned merger with rival BBVA.

Sabadell and BBVA said they were in merger talks less than two weeks ago, but they failed to agree a price.

Sabadell said it would now seek “strategic alternatives for creating value with regard to the group’s international assets, including TSB”.

It did not specify if that would mean selling TSB, which it bought in 2015.

Separately, TSB said it had “good momentum” in its business growth as well as progress in “taking full control of our IT, delivering a right-sized modern branch network and reducing overall operating costs”.

In January, it signed a deal with US computing giant IBM to run its online banking, bank systems and cash machines, in an attempt to put a stop to the IT failures that have plagued the … Read the rest

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The major retailers wanted sparse crowds on Black Friday in this COVID-19 era. They certainly got them.

On Friday morning, only a few dozen people were lined up outside the Macy’s flagship in Manhattan before it opened, compared to 15,000 or so in recent years. A nearby Aéropostale and Victoria’s Secret were devoid of any customers at all at 7 a.m. And at the sprawling Newport Centre in Jersey City, N.J., across the Hudson River, it was a ghost town: not a single customer inside its Sears store, and only a smattering of shoppers at its J.C. Penney or Kohl’s.

Even at the nearby Target, Best Buy and Home Depot, which were busy in comparison, the crowds were modest compared to previous years. Best Buy, … Read the rest

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It is an interesting stat to note that only 25% of new businesses are able to survive more than fifteen years. In a world where our lives are greatly influenced by opinion leaders and influencers, we see that content to motivate people to start a business is rolled out quite frequently. It is a hot topic and has become more relevant to us where we have seen millions of losses of jobs and closure of businesses.

It is quite crucial that long term sustainable strategies are applied. You need to have a stronghold of your affairs before you jump onto anything. You need to try to hit the right spots with consistency before claiming that you failed in your efforts. In this article, we are briefly going to cover strategies that would help you to ensure the long-term success of your startup business. 

Learn and stay updated with business insights.

Read the rest ...

Rakuten Viber is introducing new features such as Chatbot Payments, through a partnership with Google Pay and Apple Pay, as part of its tenth anniversary. The service allows users to purchase products and services, and to accept payments directly through the app, marking Viber’s move towards fintech. 

In the Philippines, this feature will be rolled out soon through partnerships with telcos like Globe. Filipino users will be able to check out and order from small food businesses through the soon-to-be-launched FoodPH bot. Users will also be able to pay for their orders via in-chat payments. 

“Small businesses that don’t have money and knowledge to create a mobile app can go to Viber and create chatbots to serve their customers,” said Anna Znamenskaya, the platform’s chief growth officer. 

Sending money through Viber is as simple as sending messages, said Viber Chief Executive Officer Djamel Agaoua. “We want to democratize and Read the rest

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Everyone agrees we need economic growth, but we cannot agree on how it can be achieved. There are two fundamental approaches the government can take.

The first is through more public spending, which would put the country into even more debt. In the short term, while interest rates are low, the problems of this are not so severe, but the long term impacts are a different story.

The other option is to stimulate the private sector with lower taxes and eliminate red tape.  However, deregulation takes time to implement whereas the positive effects of reducing business taxes are immediate. The best and most immediate action the government could take to put a proverbial rocket up our economy is to scrap corporation tax in its entirety.

Lance Forman, Vice Chairman of the Independent Business Network (IBN) sets out 10 reasons why the Government should scrap corporation tax:

Employment

If a company … Read the rest

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Though he may never publicly admit it, Donald Trump effectively conceded the 2020 presidential election on Monday, when his federal government’s General Services Administration finally signed off on the transition to President-elect Joe Biden’s incoming regime.

With a constitutional crisis, for now, averted, there is much speculation on what the future will hold for Trump. Whatever follows his remarkable, unprecedented four-year term in the White House, it’s hard to envisage him settling into a quiet post-presidency—perhaps one spent designing his presidential library and keeping quiet on his successor’s job performance.

What’s clear is that he leaves Washington much as he arrived: a divisive, polarizing figure who, despite losing a national election by millions of votes, retains a fiercely devoted following among segments of the American electorate. A new Read the rest

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