Net losses for the October-December period narrowed to 317.3 billion won ($251.5 million) from 503.6 billion won a year ago, the company said in a regulatory filing. Operating profit in the fourth quarter fell 7.5 percent on-year to 101.1 billion won. Sales inched up 0.2 percent to 3.79 trillion won. The operating profit was 39.7 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available. Lotte Shopping said its fourth quarter net losses narrowed on improved profitability stemming from an even sales growth of all product categories, including fashion and food. For the whole of 2022, Lotte Shopping's net losses widened to 297.8 billion won from 272.9 billion won from 2021. The company's operating profit came to 394.2 billion won in 2022, up 89.9 percent from the previous year, while sales fell 0.6 percent to 15.48 trillion won. Lotte Shopping expects its retail … [Read more...] about Lotte Shopping’s net losses narrow in Q4 on increased sales
Share to Twitter Share to Linkedin Ansu Fati's poor form has pushed Nike into pressuring FC Barcelona to find a new heir for Lionel Messi's iconic number '10' jersey, it has been claimed, with one potential name already firmly on the table. Fati broke into the Barca first team as as 16-year-old prodigy while Messi was still at the peak of his powers at Camp Nou. The Guinea-born-sensation smashed a number of youngest appearance maker and goalscorer records, and when Messi left to Paris Saint Germain on a free transfer in the summer of 2021, Fati inherited his number '10' jersey and signed a fresh contract that runs until 2027 with a PSG-proof €1bn ($1.075bn) release clause. Fast forward to early 2023 and Fati is currently struggling for minutes and form under coach Xavi Hernandez, as Barca close in on their first La Liga title win in four years. Given they have to reduce €200mn ($2015mn) from their wage bill, as warned by the Spanish top flight's … [Read more...] about Nike Reportedly Pressures FC Barcelona Into Signing New Messi ‘10’ Heir Amid Fati Sale Rumors
KEY TAKEAWAYS Buying from central banks reached the highest level since 1967. Investment demand also increased; ETF sales declined. The price rebound that began late in the year has continued in 2023. Global gold demand, fed by the largest central bank purchases in more than a half-century, surged to the highest level since 2011 last year despite reduced consumption by the metal's largest buying segment: jewelers. The London-based World Gold Council reported that gold demand in 2022 increased 18% to 4,741 metric tons. The world's central banks accounted for about a quarter of that amount, 1,136 metric tons, 152% more than 450 million metric tons in 2021. The buying binge from central banks reflected their desire to increase exposure to an asset historically viewed as a consistent store of value and a hedge against inflation and financial market turbulence. Global inflation surged last year, with U.S. inflation hitting 40-year highs, causing central banks around … [Read more...] about Central Banks’ Buying Binge Boosted 2022 Global Gold Demand to 11-Year High
Hassane Kamara of Watford FC looks dejected following their side's defeat in the Premier League match between Manchester City and Watford at Etihad Stadium on April 23, 2022 in Manchester, England. (Photo by Alex Livesey/Getty Images) Hassane Kamara is a high-octane defender at Watford FC in England. He was the club’s player of the year last season despite only joining in January 2022. He’s also emblematic of the financial engineering available to football clubs through the increasingly popular multi-club ownership model. Watford was relegated from the Premier League last summer and Kamara was sold to Udinese of Italy for a profit of about £12 million ($14.4 million). That looked like a great trade — but even better was that Udinese, which is owned by the same Italian family that owns Watford, immediately loaned the player back. No rules were broken and Watford Chairman Scott Duxbury was upfront about the motives, telling the club’s website that the deal aimed to balance … [Read more...] about It’s not just Manchester City. Financial football is becoming more prevalent
The disdain shown by a large majority of the population to intellectual property rights discourages innovation at the domestic level, motivates the innovators to immigrate to foreign shores and register their innovations there. (Representative image) The total apathy of common Indians towards the intellectual property rights (IPR) of the originators is appalling. The use of pirated software, photocopied books, spurious books sold on traffic signals and footpaths, unauthorised copies of branded clothes and so on is unapologetically common. Propriety and ethics are not taught in schools. It is common to see parents encouraging their wards to buy the “cheaper” alternative regardless of its legality and authenticity. Many cities have infamous “markets” for pirated software and duplicate merchandise. Driving out from Delhi NCR region to nearby Uttar Pradesh and Haryana towns, one comes across “Bhatura King”, a fast-food joint chain. The name and logo used by this chain are cannily … [Read more...] about Why is an infringement of intellectual property acceptable but not royalty payments?
Oasis's CEO Ahn Jun-hyung speaks during a press conference to announce the company's plans for its listing at Yeouido, western Seoul, on Wednesday. [OASIS] Oasis, a Korean e-commerce company that's actually profitable, is set to list on Kosdaq on Feb. 23 in an offering that could raise as much as 206.8 million, with some of the proceeds going to the largest shareholder. If the initial public offering (IPO) goes as planned, Oasis will be the first domestic e-commerce operator to go public. Other e-commerce companies, such as Kurly and SSG.com, have either postponed or canceled. Coupang, another major e-commerce operator, listed on the New York Stock Exchange in 2021. Founded in 2011, Oasis started off by focusing on developing and selling organic goods through it physical stores. It expanded its business to dawn deliveries and online sales with Oasis Market in 2018. The company plans to issue 3.66 million new shares and 1.57 million old shares priced between 30,500 won to … [Read more...] about Oasis, a dawn-delivery success story, to list on Korea’s Kosdaq
Share to Twitter Share to Linkedin Topline Uber smashed expectations in its latest quarterly financials, with CEO Dara Khosrowshahi declaring it the ride-hailing company’s “strongest quarter ever,” as shares speed toward their highest price since last February. Key Facts Uber reported $8.61 billion in sales over the last three months of 2022, beating the analyst consensus of $8.51 billion according to Factset, and a net income of -$161 million in its core business, easily beating the consensus estimate of -$329 million. The company booked $4.2 billion in revenue from its core ride-hailing business, $2.9 billion from its Uber Eats and Postmates delivery services and $1.5 billion from its Uber Freight trucking segment. Perhaps most intriguing to investors was Uber’s vast improvement in a core profitability metric: The company reported $665 million in adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) last … [Read more...] about Uber Tests 12-Month High After Reporting ‘Strongest Quarter Ever’
Share to Twitter Share to Linkedin There is no doubt that over its 36-year life that the Low Income Housing Tax Credit (LIHTC) has housed many people. But how many? As my last post showed, there are many known unknowns about how and how well the LIHTC has functioned over those years. For example, a common number offered as an answer to the question, “how many units has LIHTC created over its 36 years?” the answer is often something like 29 million. Where does that figure come from? Column V in the LIHTC “database,” a column in the Excel spreadsheet that has 3,000 blanks and 1,500 cells with “0” as the answer. It is a challenge to reform a federal expenditure when no deep evaluation is possible for lack of good data. However, I’d like to close the LIHTC portion of the look back at Paul Ryan’s critique with some ideas for reform. I’ve concluded that the Low Income Housing Tax Credit Program isn’t really a program at all. It is behemoth , a complex of … [Read more...] about Series: Unwind The LIHTC, Create Tax Benefits For Builders And Families
Share to Twitter Share to Linkedin Today one of the world’s best-loved headphone brands announced that its iconic HD 600 Series has been updated. It’s fair to say the Sennheiser 600 Series has been loved by music and audio enthusiasts looking for high-end headphone performance. The new HD 660 S2 results from feedback from the company’s loyal customer base asking for a pair of open-back headphones that offer reference-level detail with an impactful bass. In a press release to mark the launch of the new model, Sennheiser says the upgrade offers a “more dramatic listen with greater intensity from enhanced sub-bass tuning, extracting dynamic impact and emotion from audio enthusiasts’ favorite recordings. The updated acoustics offer a delightful new way to experience music all over again.” It’s always a bit of a gamble when reimagining a product so well-loved by a loyal band of customers. Sennheiser says that the HD 660S2 improves the well-love classic by … [Read more...] about Sennheiser’s Iconic HD 600 Series Headphones Gets A Major Upgrade
Share to Twitter Share to Linkedin CTO | Board-Level Advisor | A shaman helping guide a way through your digital jungle. Representing Core Technology Solutions services. There is a shift occurring in technology that is unprecedented. 2023 is going to be the pivotal year it arrives at your doorstep. Are you ready for what's to come? What's happening? Baby Boomers started their careers in the late 1970s. This was right around the same time computerized technology was being adopted within businesses and enterprises. The 1980s saw the rise of computers, networks, handhelds and digital telephony. This flourished during the '90s bubble. The Boomers that were working during these times have risen in power, some starting their own businesses. Others became executives and drove commercial enterprise till today. It's widely known that Baby Boomers truly understood the tech of the '80s and early '90s but have fallen behind as they've aged. The Boomers … [Read more...] about Ready For The Big Tech Consolidation Of 2023?