SoftBank expects $34 billion in earnings by cutting Alibaba stake
SoftBank said on August 10 that it plans to reduce its stake in Chinese e-commerce company Alibaba as part of a deal on financial contracts that it expects to add $34 billion to pretax income in the current quarter . The Japanese technology investment company said its stake in Alibaba is expected to fall to 14.6% as a result of the moves. Participation was 23.7% on June 30. He also said Alibaba is expected to no longer be an equity method company partner, which changes the way Alibaba’s profits are recorded on SoftBank’s books. SoftBank said it would continue to…
Read More »Preparing for the economic recession, American SMEs are betting on technology
NEW YORK–(BUSINESS THREAD)– Nearly half of US SMBs are changing their technology stack to adapt to today’s economic climate, according to new Codat researchthe universal API for small business data. The State of Small Business Software report is based on research conducted by YouGov in May 2022 that surveyed more than 500 founders, owners and CEOs of US micro, small and medium-sized businesses. 40 percent of SMBs are changing the way they use and think about tools and software in today’s business environment. Of this 40 percent, the most common changes companies are making are changing suppliers (49 percent), seeking…
Read More »Presentation of the field of cryptographic utilities
Commerce, business transactions, payment gateways, etc. all have a shared pattern of development which is simply called evolution. Technology is at the heart of the earth’s survival, perfecting man’s mange into an enviable one. With the two mentioned; trade transactions and technology, the goal will always be to eradicate obstacles to development. Understandably, there will always be a set of people who are still comfortable with the old way of doing business, however, those with open minds understand the benefits of innovation and its potential to disrupt the financial world Blockchain technology and cryptocurrencies need no introduction as it made…
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Inflation eases a bit, a rent ’emergency’ and top financial news for August 10
seb_ra / iStock.com It’s National Lazy Day, a day set aside for doing absolutely nothing, but here you are. Might as well give today’s major financial stories a look…then you can be lazy again. You’ve earned it. The big upside: Inflation cooled slightly in July due to lower gas prices Finally, inflation began to cool in July, giving analysts and investors a small sense of reassurance. The Consumer Price Index (CPI) report showed that the index for all items for the 12 months to July fell to 8.5%, driven largely by falling prices in gas Read the full story here…
Read More »Cyanotech reports financial results for the first quarter of fiscal year 2023
KAILUA KONA, Hawaii –(BUSINESS THREAD)–Cyanotech Corporation (Nasdaq Capital Market: CYAN), a global leader in high-value health and nutrition dietary supplement products based on microalgae, announced financial results for the first quarter of fiscal 2023, ended 30 of June 2022. Commenting on the fiscal first quarter 2023 results, Cyanotech President and CEO Matthew K. Custer said, “The disappointing first quarter results were primarily driven by a $2.2 million decrease in sales and a higher cost per kilo of astaxanthin. Lower sales in the quarter were related to the timing of shipments to a Nutrex customer as we transitioned to their sales…
Read More »Look to these stocks to lead a recovery if inflation has peaked
Stocks soared on Wednesday after a better-than-expected slowdown in the pace of rising consumer prices. The consumer price index, which measures the price of a basket of goods and services, rose 8.5% in July from a year ago, compared with estimates of 8.7% of increase Investors cheered the news, leading many to question whether inflation has peaked and whether the Federal Reserve may in turn raise rates less aggressively. In both June and July, the central bank raised rates by 75 basis points each time to fight inflation. “The market seems to be taking comfort in the fact that we’re…
Read More »Trump cites the Fifth Amendment and refuses to answer questions from the New York AG
Former U.S. President Donald Trump leaves Trump Tower to meet with New York Attorney General Letitia James for a civil investigation on August 10, 2022 in New York City. James Devaney | Images Gc | Getty Images Former President Donald Trump said he declined to answer questions Wednesday in a statement by New York Attorney General Letitia James’ investigators as part of their civil probe into the Trump Organization. Trump announced in an emailed statement that he had invoked his Fifth Amendment right against making self-incriminating statements shortly after arriving for the court-ordered interview under oath at James’ offices in…
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Go to the knowledge: Inflation eases a bit, a rental ’emergency’ and the best financial news of August 10
seb_ra / iStock.com It’s National Lazy Day, a day set aside for doing absolutely nothing, but here you are. You can also take a look at today’s biggest financial stories… then you can be lazy again. You’ve earned it. The big upside: Inflation cooled slightly in July due to lower gas prices Finally, inflation began to cool in July, giving analysts and investors a small sense of reassurance. The Consumer Price Index (CPI) report showed that the index for all items for the 12 months to July fell to 8.5%, driven largely by falling prices in gas Bonus offer: Open…
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