Posts belonging to Category entrepreneur



Uber wins licence to work in London

15-month probationary licence

Uber will be able to continue operating in London, after a court decided the ride-hailing firm should be awarded a new 15-month probationary licence, after being told of sweeping changes to its practices.

The ride-hailing firm’s future in one of its biggest global markets had been in jeopardy after Transport for London ruled last September that it was not “fit and proper” to hold a private hire vehicles operator licence.

At the start of a two-day hearing, Uber admitted that London’s original decision not to renew its five-year licence had been correct. TfL cited concerns about public safety and security, including a failure to report crimes or alleged crimes to the police, and to conduct proper background checks on drivers.

But Uber’s lawyers convinced Westminster magistrates court that it had since cleaned up its act, while continuing to operate in the capital pending its appeal.

https://www.theguardian.com/

For a moment, Netflix was worth more than Disney

Will  Netflix rule the media world ?

Its market value soared above $153 billion, overtaking Disney as the most valuable media company. Netflix (NFLX) shares were up Thursday even as Disney (DIS), Comcast (CMCSA) and the broader market fell. But Disney regained the crown by the close after Netflix shares pared their gains, taking the streaming company’s market cap below $152 billion.

Netflix is still in second place ahead of Comcast, which it passed Wednesday. The cable giant is now valued at about $145.5 billion. Netflix has added millions of subscribers around the globe for the past few years. The company’s success demonstrates that its bet on original content — shows like “Stranger Things,” “Orange is the New Black, “The Crown” and “13 Reasons Why” — has paid off.

https://www.cnn.com/

Mark Zuckerberg ripped by European Parliament for dodging questions

Mark Zuckerberg’s big European test did not go well

The Facebook (FB) CEO apologized for the company’s mistakes but angered European lawmakers by dodging their questions. Zuckerberg was questioned on Tuesday by political leaders and lawmakers at the European Parliament in Brussels for about 80 minutes.

His replies left them mostly frustrated. They used the last few minutes of the meeting to complain and accused him of giving general answers. “I asked you six yes and no questions,” Philippe Lamberts, a Green party politician, said. “I got not a single answer.”

https://www.cnn.com/

The Flow, the new business culture?

Freedom, Mastery, Ownership

Video games are evil creatures that will rot your brain. Unless, of course, you’re like pro-gamer Callum Negus-Fancey and build an entire event marketing business out of what attracts you to them.  What Negus-Fancey was really after through up to 15 hours of play a day, he discovered, was the sense of flow gaming brought to him. Great games allowed him to lose a sense of time and simply focus. So his next question then became, what are the specific dynamics that create flow and foster motivation during gaming, and could those serve as the foundation for a spectacular business culture?

Negus-Fancey came up with 3 key elements that relate to flow. He’s made them the centerpiece of culture at Verve, the company he co-founded with his brother, Liam, in 2013. The business, which has approximately 150 employees and $35M in venture funding to date, helps develop brands by rewarding individuals for word-of-mouth advertising.

https://www.inc.com/

Xiaomi valued at $80 billion

Xiaomi, the Apple of the East

In China no company achieved $1bn in annual revenue as quickly as Xiaomi did, in the year following the launch of its first smartphone in 2011. Chinese media initially nicknamed Xiaomi the “Apple of the East” (its literal translation is “little rice”). That was a stretch, even in good times. But within another two years the affordable-handset-maker became the world’s most valuable startup, worth $46bn.

Analysts reckon that it now wants to raise up to $10bn in an initial public offering (IPO) on Hong Kong’s stock exchange which was announced on May 3rd. (Its filing documents disclose neither the valuation that it is seeking, nor a fundraising target.) That could afford it a very generous valuation of as much as $80bn—not far off the $91bn market capitalisation of Baidu, China’s biggest search engine and one of the country’s three “BAT” tech titans alongside Alibaba and Tencent.

https://www.economist.com/

Apple pops after crushing earnings

The stock are up more than 4% in after-hours trading.

Shares of Apple are up more than 4% in after-hours trading Tuesday following second-quarter earnings from the company that topped analyst expectations.

Here are the key figures:

  • Revenue: $61.1 billion versus an expected $60.86 billion
  • Earnings per share: $2.73 versus an expected $2.60
  • iPhones sold: 52.2 versus an expected 51.9 million.

The company also announced a $100 billion share buyback in addition to boosting its dividend by 16% to $0.73 per share.

“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” said CEO Tim Cook in a press release. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan.”

Shares of Apple have declined 1.6% since the beginning of 2018.

 https://www.finance.yahoo.com/

Amazon Posts Massive Q1 Earnings Beat

Shares Rocket to Record Highs

Amazon reported $51.0 billion in sales for the first quarter and a net profit of $1.63 billion for the first quarter of 2018, dramatically topping already-high Wall Street expectations.

The company’s stock soared as much as 8% in after-hours trading, climbing above $1,600 per share to all-time highs. That came after shares closed up 4% prior to the earnings release.Amazon’s net income, which more than doubled from the year-earlier period, translated into earnings of $3.27 per share.

Wall Street consensus estimates had pegged Amazon’s Q1 revenue at $49.79 billion and EPS at $1.26.

Last week, CEO Jeff Bezos announced in his annual letter to investors that Amazon had surpassed 100 million members worldwide for Prime, the free-shipping program that includes Prime Video and other perks.

Facebook’s first-quarter revenue rose 49 percent

Facebook Finds It Harder to Get More People to Log On

Let’s get this out of the way: No, Facebook Inc. hasn’t felt an immediate financial sting from the latest controversies over how it collects and protects people’s information. But that doesn’t mean the company is free from danger.

Facebook’s first-quarter revenue rose 49 percent, an acceleration of the company’s pace of growth from the prior two quarters, the company said Wednesday. And Facebook delivered a 45.5 percent operating profit margin, which was lower than its recent performance but still impressive in light of a significant increase in spending. Growth also accelerated in the average revenue Facebook generates from each user.

15 companies likely to get bought this year

Morgan Stanley list

Wall Street expects M&A activity to accelerate in 2018, which should create opportunities for investors looking to profit from accompanying stock spikes. After all, when an acquisition offer is made, the company being bought usually sees its share price increase. So the process is simple — identify potential acquisition targets, buy them, and hope a deal gets announced.

The firm Morgan Stanley has developed a model that sorts stocks by acquisition likelihood. The methodology involves calculating the probability that a company will be on the receiving end of at least one tender offer. And in figuring out its list, Morgan Stanley weighs a combination of cohort information and stock-specific fundamentals. Without further ado, here are 15 stocks that the firm says are among the most likely to receive an acquisition offer sometime in the next 12 months:

Netflix stock rises

Netflix subscribers up 50% from the same quarter a year earlier

Netflix (NFLX) added 7.4 million subscribers in the first three months of 2018, up 50% from the same quarter a year earlier, the company reported on Monday. It now has 125 million subscribers. The strong subscriber growth came in well ahead of Wall Street’s estimates, helping send Netflix stock up 6% in after-hours trading Monday.

Daniel Ives, an analyst with GBH Insights, called Netflix’s earnings results “eye popping” in an investor note. Netflix is currently ranked No. 4 on the IBD 50 list of top-performing growth stocks. It’s also featured on IBD’s Leaderboard list of stocks with the potential for big gains. Deutsche Bank analyst Bryan Kraft upgraded Netflix to buy from hold on Friday and set a 12-month price target of 350.

http://www.cnn.com/