Subscription business for sale

- A + A (June 29): The market for nonfungible tokens -- such as artwork of bored apes and pudgy penguins -- has been spiraling downward after sales sank sharply and the prices of popular NFTs plummeted over the last few weeks. The crypto niche is on course to record its first month with under US$1 billion in sales since June 2021, according to data tracker DappRadar. On the world’s biggest NFT marketplace, OpenSea, sales volume has fallen 75% since May, and looks set to scrape the lowest levels since July 2021, Dune data shows. The prices of top-selling NFTs have also slipped. Some Otherdeed NFTs, which were in such high demand at their May launch that they clogged up the Ethereum network, have seen their price floors fall by about 30% in the last 30 days, while the price floor on Bored Ape Yacht Club’s (BAYC’s) blue-chip NFT collection has also fallen nearly 33% in the same time, data from NFT Price Floor shows. Meanwhile, the JPG NFT Index, which tracks a handful … [Read more...] about NFTs have ‘fallen off the cliff’ as sales sink to lowest levels in a year

PARIS: Netflix is “actively” working on building its cheaper, ad-supported deal, the company’s French team said on June 28, but added there was no clear timeline. It was revealed last month that the streaming platform was planning to introduce a new cheaper subscription model by the end of the year that would break its taboo on advertising. That leak to the New York Times followed news that Netflix had lost 200,000 subscribers in the first quarter of the year – its first decline in a decade. “We don’t have a precise timeline yet,” Anne-Gabrielle Dauba-Pantanacce, head of communications for Netflix France, told AFP. “We are actively working on it. It’s a priority – this idea of giving subscribers more options in the context of high inflation,” she added. Bloomberg reported over the weekend that Netflix has yet to appoint a head of advertising or build a sales team. The Wall Street Journal said Netflix is actively looking into partnerships with Google and Comcast to … [Read more...] about Netflix ‘actively’ working on ad-supported subscription

Share to Twitter Share to Linkedin S nack giant Mondelez announced last week it will acquire energy bar maker Clif Bar in a deal worth at least $2.9 billion. The sale of the Emeryville, California-based company, founded by entrepreneur and sports fanatic Gary Erickson back in 1992, marks a landmark moment that will make not only its majority owners rich, but also some of its employees. Forbes previously estimated that Erickson, aged 64, and his wife Kit Crawford, 63, who own at least 80% of the business they ran as co-CEOs for many years, would walk away with $1.53 billion (after taxes), bringing their collective net worth to $1.6 billion. The remaining 20% was set aside for Clif Bar’s employees when the company introduced an employee stock ownership plan (ESOP) in 2010 as a retirement benefit. That ownership stake should set employees up for a $580 million (pre-tax) payday. But which employees, and how much they get, appears to be a bone of … [Read more...] about Inside Clif Bar’s Rocky Road To Its Sale—And A Possible $580 Million Employee Payout

Share to Twitter Share to Linkedin The Intellectual Property (IP) and patent landscape are incredibly complex. There are rules and regulations for different types of products, designs, and trade secrets differing by country and region. It takes years to develop unique products and bring solutions to market to consumers, with a tremendous amount of IP involved. This is why it’s crucial for everyone — especially for smaller companies — to have the resources in place to protect their property and in some cases even their livelihood. Intellectual property and patents are some of a company’s most important assets in today’s business climate. But these assets could be under threat from competitors, hackers, and other bad actors. For the tech giants that have an army of litigators and resources at their disposal, fighting patent infringement or IP infringement lawsuits is par for the course, but smaller companies often don’t have the luxury to go through a … [Read more...] about Amazon Turns To Technology To Help Small Business Deal With Intellectual Property Challenges

Representative Image Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Reliance Industries (RIL) has said it is “unable to comment” on reports in a section of media that is considering buying bankrupt American cosmetics major Revlon. In a statement to stock exchange late on June 27, Reliance said it was “unable to comment” on the media speculation and rumours that first surfaced on June 24. The buzz was that Reliance was considering buying out Revlon in the US . The oil-to-telecom conglomerate said it “evaluates various opportunities on an ongoing basis”, and it would be inappropriate to comment on speculation. News reports claimed RIL was considering an offer just days after Revlon filed for Chapter 11 bankruptcy on June 16. Revlon endured loss of business during the coronavirus pandemic, which followed years of dwindling … [Read more...] about No comments, says RIL to reports of plan to acquire Revlon

Tata Motors | Representative image Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Tata Motors on Tuesday said it will increase the prices of its commercial vehicles, in the range of 1.5 to 2.5 per cent, from July 1 to partially offset rising input costs. The hike will be across the range of commercial vehicles and the quantum will depend on individual model and variant, Tata Motors said in a regulatory filing. "While the company takes extensive measures to absorb a significant portion of the increased input costs at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on a residual proportion via a minimised price hike," it said. In April, Tata Motors had hiked the prices of its passenger vehicles by 1.1 per cent and those of commercial vehicles by 2 - 2.5 per cent to partially … [Read more...] about Tata Motors to increase prices of its commercial vehicles from July

Share to Twitter Share to Linkedin Topline Singapore-based crypto hedge fund Three Arrows Capital has become insolvent and a British Virgin Islands court has ordered its assets to be liquidated, Sky News reported on Wednesday, a development that could spark further turmoil in the cryptocurrency market which is already beginning to see a slump in prices after rallying earlier in the week. Key Facts Sky News, citing unnamed sources, reported that British Virgin Islands-based Teneo Restructuring is handling the insolvency proceedings. On Monday, crypto broker Voyager Digital said it issued a notice of default to Three Arrows Capital (3AC) as the company failed to make payments on an approximately $675 million loan. The price of Bitcoin was down more than 4.5% dropping below $20,000 once again after a brief recovery earlier this week but it is likely to drop further if the report is confirmed. Three Arrows Capital has not yet … [Read more...] about Court Reportedly Orders Liquidation Of Crypto Hedge Fund Three Arrows Capital, Threatening More Market Turmoil

Glomac, Khee San, Hiap Teck, Gamuda, SCGM and Bintai Kinden - A + A KUALA LUMPUR (June 29): Here is a brief look at some corporate announcements and news flow on Wednesday (June 29) which include Glomac Bhd, Khee San Bhd, Hiap Teck Venture Bhd, Gamuda Bhd, SCGM Bhd and Bintai Kinden Corp Bhd. Glomac Bhd 's net profit jumped almost threefold to RM15.11 million or 1.97 sen per share for the fourth quarter ended April 30, 2022 (4QFY22), from RM5.46 million or 0.71 sen a year ago — despite weaker revenue — as project margins improved. Revenue fell 37% to RM73.59 million for 4QFY22 from RM116.03 million a year ago, due to lower construction activities. The group proposed a dividend of 1.5 sen per share, up from one sen previously. For the full FY22, the group's net profit grew 29% to RM36.49 million from RM28.22 million in FY21, despite revenue dropping 29% to RM259.49 million, from RM366.91 million. Khee San Bhd and nine of the candy maker’s directors have … [Read more...] about Glomac, Khee San, Hiap Teck, Gamuda, SCGM, Bintai Kinden

- A + A WASHINGTON (June 29): The US economy contracted slightly more than previously estimated in the first quarter, as the trade deficit widened to a record high and a resurgence in Covid-19 infections curbed spending on services like recreation. The Commerce Department's third estimate of gross domestic product on Wednesday also showed some underlying softness in the economy, with consumer spending revised lower and inventories higher than reported last month. This is a potential red flag for domestic demand and the economic outlook amid recession jitters, as the Federal Reserve aggressively tightens monetary policy to tame inflation. Fed Chair Jerome Powell told a European Central Bank conference on Wednesday that "there is a risk" the US central bank could slow the economy more than needed to control inflation. "The biggest effect from this report is that it leaves inventories in a more overbuilt position than previously thought, putting second-quarter GDP … [Read more...] about US economy contracts in Q1; outlook murky as unsold goods accumulate

- A + A WASHINGTON (June 29): The US economy contracted in the first quarter amid a record trade deficit, the government confirmed on Wednesday, but that picture is misleading as domestic demand was strong. Gross domestic product fell at a 1.6% annualised rate last quarter, the government said in its third GDP estimate. That was revised down from the 1.5% pace of decline reported last month. The economy grew at a robust 6.9% pace in the fourth quarter. Economists polled by Reuters had forecast the pace of contraction would be unrevised at a 1.5% rate. The decline in GDP last quarter also reflected a slower pace of inventory accumulation by businesses relative to the fourth quarter's brisk rate due to supply-chain dislocations and worker shortages. Final sales to private domestic purchasers, which exclude trade, inventories and government spending, increased at a 3.0% rate last quarter. This measure of domestic demand was previously reported to have risen at a … [Read more...] about Record trade deficit weighs on US economy in first quarter