DIRS.INFO The most relevant business & tech news

☆ Dominion sued Fox News for $1.6 billion. Internal documents show the tech company is only worth $80 million at most, Fox says.
▼ + stars: | 2023-02-17 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

Dominion sued Fox News for $1.6 billion, alleging it helped spread election conspiracy theories. "Even under the most optimistic projections," they wrote, Staple Street did not forecast Dominion would be worth "anywhere near $1.6 billion." "At no time did Staple Street so much as hint to its investors, auditors, or anyone else that Dominion could be worth $1.6 billion," they wrote. "Yet, when Dominion decided to file a lawsuit to punish FNN for reporting the President's allegations about Dominion, Dominion chose to claim that Dominion's value was 20 times their highest estimate." The $1.6 billion lawsuit, Fox News argues, will have a chilling effect on media outlets everywhere.

☆ Exclusive: Tencent scraps plans for VR hardware as metaverse bet falters - sources
▼ + stars: | 2023-02-17 | by ( Josh Ye | ) www.reuters.com time to read: +4 min

The world's largest video game publisher had ambitious plans to build both virtual reality software and hardware at an "extended reality" XR unit it launched in June last year, for which it hired nearly 300 people. One of the sources said the XR project was not expected to become profitable until 2027, according to an internal forecast. The company also said on Thursday that it was not disbanding the XR unit. It also entered into a race against Western peers such as Meta Platforms (META.O) and Microsoft (MSFT.O), which are building their own metaverses and have their own virtual reality hardware projects. Pico, a virtual reality (VR) headset manufacturer owned by TikTok's Chinese developer ByteDance, said on Friday it was laying off a small number of people, after local media reported the start of hundreds of redundancies earlier this week.

☆ Hasbro 2023 profit forecast disappoints as toy demand drops sharply
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Hasbro, Inc. logo is seen on the Star Wars Galactic Snackin Grogu toy in the FAO Schwarz toy store in Manhattan, New York City, U.S., November 24, 2021. Toy demand has typically remained resistant to economic uncertainties, but it fell sharply in the holiday season, with Hasbro rival Mattel Inc (MAT.O) earlier this month projecting 2023 profit below expectations. For Hasbro, Walmart accounted for around 13% of sales, while Target made up for roughly 8% of sales in 2021. The toymaker said it will take a nearly $300 million hit to 2023 revenue from the licenses and brands that it exited. Hasbro said it expects 2023 adjusted earnings in the range of $4.45 to $4.55 per share, well below analysts' average estimate of $4.88 per share, according to Refinitiv data.

☆ Hasbro 2023 forecasts disappoint as inflation hits toy demand
▼ + stars: | 2023-02-16 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

[1/2] The Hasbro, Inc. logo is seen on the Star Wars Galactic Snackin Grogu toy in the FAO Schwarz toy store in Manhattan, New York City, U.S., November 24, 2021. The overall revenue is projected to be down low-single digits, while Wall Street analysts were expecting a 2.5% increase to $6 billion. "It's a cautious outlook...(but) what I'm most concerned about is that Hasbro doesn't lose sight of the consumer products segment," said James Zahn, Editor-in-Chief of trade magazine "The Toy Book". "Consumer products is what Hasbro is rooted in as a business." Hasbro expects 2023 adjusted per-share earnings in the range of $4.45 to $4.55 compared with estimates of $4.88 per share.

☆ I was a manager at Amazon. My boss encouraged me to quit after I defended a high-performing employee who was about to get the lowest performance rating.
▼ + stars: | 2023-02-14 | by ( Shana Lebowitz | ) www.businessinsider.com time to read: +6 min

He said he defended an employee who senior leaders placed in this category despite performing well. Senior leaders would bump people to the lowest performance bucket so they could meet certain quotasDuring the annual-review process, managers would fill out information sheets for each employee. But the senior leaders had apparently been given "unregretted attrition," or URA, numbers — how many employees Amazon wants to lose in a given year. And they would quickly try to force things into a stack ranking of who was high-performing, who was middle-performing, and if we could put people into the "least-effective" bucket. Senior leaders would start going down a list of people who were the next rung up on the performance measurement.

☆ Bright lights and snazzy mannequins: Walmart rolls out sleek new store designs
▼ + stars: | 2023-01-28 | by ( Melissa Repko | ) www.cnbc.com time to read: +7 min

In company surveys, he said nearly every shopper said the store's displays and mannequins encouraged them to browse longer. Walmart's new store design includes displays that show off how a customer could decorate a nursery or kitchen. Melissa Repko | CNBCWashington declined to share data about Walmart's store traffic and sales at its Springdale store and other flagships that have opened in recent months. Visits to its Walmart store in Springdale, Ark. Victor Millan, of Ridgefield Park, New Jersey, makes weekly shopping trips to the Walmart in Teterboro for groceries and other items.

☆ Electric vehicles throw Palladium's mega-rally into reverse
▼ + stars: | 2023-01-27 | by ( Peter Hobson | ) www.reuters.com time to read: +2 min

(Graphic: Palladium's rally, )Powering the rally was rising demand from automakers who needed more palladium per vehicle to meet tightening emissions standards. Electric vehicles (EVs) that do not need palladium are gaining market share and automakers are substituting some palladium for cheaper platinum in combustion engine vehicles. (Graphic: Palladium supply from recycled vehicles, )That will shift the roughly 11 million ounce a year market to a surplus of nearly a million ounces in 2027, they said. (Graphic: Palladium market balance, )But it is too early to rule out short-term upward moves. (Graphic: Palladium speculators, )

☆ I'm the founder of fashion retailer Showpo. I faked going to work for months because I was scared to tell my parents I'd quit to run my own business.
▼ + stars: | 2023-01-15 | by ( Jenna Gyimesi | ) www.businessinsider.com time to read: +6 min

Jane Lu is the CEO and founder of Showpo, an Australian online fashion retailer. She quit her accountant job to start her first business, which failed — and launched Showpo only a month later. I used to be a really bad accountant, but now I'm the CEO and founder of Showpo, an online fashion store. I decided to start my own business, but I couldn't tell my parentsMy first business was running pop-up fashion stores in bars. Years later, I finally told my parentsA year and a half into Showpo, I'd told my parents I was on an unpaid leave from work to work on my fashion company.

☆ Analysis: Tencent bets big on WeChat Channels in push to build its own TikTok
▼ + stars: | 2023-01-13 | by ( Josh Ye | ) www.reuters.com time to read: +6 min

"Tencent hopes it can turn Channels into the next WeChat Pay. Two sources familiar with Tencent said the importance of Channels has been repeatedly communicated within the company. In November, Tencent President Martin Lau said Channels' advertising revenue was on track to reach 1 billion yuan in the fourth quarter of 2022. "For example, in Douyin or Kuaishou, you won't be able to ask your viewers to add you on WeChat. But on Channels, you can quickly add somebody on WeChat," Yang said.

☆ BlackRock's mighty tech unit is a silver lining in an awful market. But competition and a recession could test its momentum.
▼ + stars: | 2023-01-09 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +7 min

In a tumultuous year for BlackRock, its powerful Aladdin business won record new mandates. "2022 was a good litmus test for the BlackRock model vis-a-vis Aladdin," said Cathy Seifert, a senior equity analyst at CFRA Research. Now Sudhir Nair, the longtime BlackRock executive who runs the Aladdin business globally, and his sprawling business face a test: Keeping that momentum. "To get new business, Aladdin may have to sharpen their pencils, despite the fact that I do think they still retain a best-in-class position," Seifert said. Influential rival money managers like Two Sigma, Pimco, State Street, and Amundi have been putting resources behind their own proprietary tech platforms.

☆ China to import 45 foreign video games, grants multiple licences to Tencent
▼ + stars: | 2022-12-28 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

BEIJING, Dec 29 (Reuters) - China's video games regulator granted publishing licences to 45 foreign games for release in the country，including seven South Korean games, further lifting rigid curbs that have hammered the industry for 18 months. The approval of imported games effectively marks the end of Beijing's crackdown on the video games industry which began last August when regulators suspended the game approval process. Unlike in most other countries, video games need approval from regulators before release in China, the world's largest gaming market. Other imported games approved include CD Projekt's (CDR.WA) "Gwent: The Witcher Card Game" and Klei Entertainment's "Don't Starve". China approved 76 imported games in 2021 and 456 in 2017.

☆ Tencent chief blasts managers in fiery townhall - sources
▼ + stars: | 2022-12-23 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

In a rare show of frustration, Pony Ma said at a year-end meeting with staff on Dec. 15 that internal reviews this year had exposed unspecified corruption within Asia's biggest social media and gaming company, the sources said. Tencent reported a second straight quarterly revenue drop last month as China's economic slowdown and regulatory scrutiny hit its ad and gaming businesses. Up to the previous quarter, Tencent had reported double-digit growth for almost every three-month reporting period since going public in 2004. Ma, who mostly stays out of public view, also said the company needed to focus on short video for future growth, and described the WeChat Video Account, Tencent’s short video platform, as the "hope" of the Shenzhen-based company, the sources said. He warned that the video gaming business group would have to get used to Beijing’s strict licensing regime, and the number of new games China would approve would remain limited in the long run.

☆ Turned off Tesla by Elon Musk? Here are 4 great electric alternatives to its sedans and SUVs.
▼ + stars: | 2022-12-21 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

Instead of a Model S, consider:The 2022 Mercedes-Benz EQS 580. Tim Levin/InsiderTesla's Model S sedan has historically been the electric car against which all new EVs are measured. Instead of a Model X, consider:The Rivian R1S. Rivian SUVs are backordered into oblivion as the company ramps up production, but they are available lightly used. Tim Levin/InsiderThere's a swarm of small electric SUVs on offer from Ford, Volkswagen, Audi, Volvo, and more.

☆ 'The mood is really grim': Washington Post staffers lived at publisher Fred Ryan after layoff announcement
▼ + stars: | 2022-12-15 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

New York CNN —Staffers at The Washington Post are livid at publisher Fred Ryan. Video posted on Twitter by national reporter Annie Gowen showed Ryan walk off stage as staffers peppered him with questions. In fact, I haven’t spoken to a single person at The Post yet who has gone to bat for the publisher. Buzbee indicated to staffers on Wednesday that she had only learned about the layoff situation the night before. “The mood is really grim,” one staffer candidly told me.

☆ 13 Unique Gifts for the Mom Who Doesn’t Want Anything
▼ + stars: | 2022-12-13 | by ( ) www.wsj.com time to read: +7 min

The woman forever insisting she doesn’t need anything for the holidays, her birthday or Mother’s Day. With 200-plus thoughtful prompts and quick-hitting questions (What food do you like to have made for you when you’re sick? For the fragrance fanThis cool subscription service makes a unique gift for any mom, delivering an 8 mL bottle of perfume to her door every month. For the mom who’s tired of getting flowersThink of succulents as the gateway into plant parenthood. For the mom who could use a pick-me-upDare we say this is the sort of offering that will have her buzzing?

☆ US lawmakers want answers on FTX's collapse. Sam Bankman-Fried may not have them.
▼ + stars: | 2022-12-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

But first, we are going to hear more from Sam Bankman-Fried this week, even if you think we've already heard quite enough from him. Sam Bankman-Fried testifies during a hearing before the House Financial Services Committee on December 8, 2021 in Washington, DC. Disgraced FTX founder Sam Bankman-Fried, who said he once considered himself a "model CEO," tweeted last week that he would testify before tomorrow's House Financial Services committee hearing focused on his firm's blowup. FTX's new CEO, John J. Ray III, who oversaw the bankruptcy of Enron, will testify in the first part of the hearing. A private lunch with the billionaire is on the table if you're willing to pony up the cash.

But more recently, a tip prompt on credit card payments has been added as well. At the same time, those disgruntled at finding a new tip prompt generally direct their pique at the wrong target. Most either express pleasure at the opportunity to better compensate Starbucks workers or outrage at the expectation of the surcharge. At the same time, those disgruntled at finding a new tip prompt generally direct their pique at the wrong target. There are two types of tip creep inching ever upward like a vine snaking its way along a trellis.

☆ The media business is in turmoil — but its stocks may be close to bottoming
▼ + stars: | 2022-12-07 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

Wall Street, for what it’s worth, seems to think the worst is over for the streaming leader after it finally decided to cave and launch an ad-supported service. And what’s more, many media companies are in the midst of layoffs and other cost-cutting measures, including CNN and its parent Warner Bros. But Wall Street is certainly more bullish about the prospects for media stocks. Wall Street is predicting that Warner Bros. So even though it feels like there’s still more bad news to come, media stocks may have already hit the bottom.

Gonzalez did his own spending and campaigning, but amid an onslaught of Republican spending in the region’s elections, the DCCC ads were welcome, Gonzalez’s campaign said. “We did historic investments when it came to Latino voters and voters of color,” said Maríafernanda Zacarías, DCCC senior adviser for Latino engagement. That Latino spending was just one portion of the big-money ultimately unsuccessful effort to hold the House Democratic majority. Democrats invested in holding their Latino support and “mostly succeeded,” said Angle, who runs the Lone Star Project supporting Texas Democrats. Republican Rep. Mike Garcia defeated Democrat Christy Smith to return to Congress for California’s 27th Congressional District, based in northern Los Angeles.

Outgunned financially as Democrats dominate early voting, Herschel Walker’s Georgia Senate campaign Thursday begged donors to pony up more money because of Sen. Raphael Warnock’s growing sense of momentum. We need help,” Walker campaign manager Scott Paradise wrote in the memo sent to donors Thursday, which was obtained by NBC News ahead of Tuesday’s runoff election. “Core Republican voters just can’t get fired up about Walker, and they came out in the general because they liked Kemp or their congressional candidates. The Walker campaign is no longer beaming with the confidence it had heading into Election Day in November. “Some people still can’t get over the Trump connection,” said Ed Muldrow, the former chairman of the Gwinnett County GOP.

You don't need to worry about paying a high annual fee to open a small business credit card that's worthwhile. But the below small business credit cards are the best of the best if you're not willing to pony up just yet. Review: Amex Blue Business Plus card reviewWhy the Amex Blue Business Cash card is worth it: The American Express Blue Business Cash Card earns cardholders straightforward cash-back on all eligible purchases. Review: Chase Ink Business Unlimited card reviewWhy the Chase Ink Business Cash card is worth it: The Ink Business Cash® credit card is a great option for businesses looking to maximize their spending at office supply stores, internet, cable, restaurants, and more. Review: Ink Business Cash card reviewWhy the Triple Cash Rewards Mastercard is worth it: The U.S. Bank Business Triple Cash Rewards Card is ideal if you're looking for a card with a generous bonus and intro APR.

☆ Didn’t Get Taylor Swift Tickets? There’s a Few Things You Can Do
▼ + stars: | 2022-11-25 | by ( Neil Shah | ) www.wsj.com time to read: 1 min

Unprecedented demand for Taylor Swift’s “Eras Tour” has caused a frenzy amongst her passionate fans. Millions of Taylor Swift fans missed out on concert tickets due to an unprecedented surge of demand that crashed ticket-selling websites. So what can fans do now to see her “Eras Tour”? For starters, they can prepare to pony up and lose some sleep hunting for tickets.

☆ U.S. Blocks Dominican Republic Company’s Sugar Imports Over Alleged Forced Labor
▼ + stars: | 2022-11-23 | by ( Richard Vanderford | ) www.wsj.com time to read: +2 min

U.S. Customs and Border Protection has blocked imports of sugar and sugar-based products from a Dominican Republic-based company because of its alleged use of forced labor, a move that comes amid a broader crackdown. U.S. Customs will detain raw sugar and sugar-based products produced in the Dominican Republic by Central Romana Corp. after the agency uncovered multiple indicators of forced labor. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. PREVIEWIn 2020, the U.S. put together a task force to go after companies using forced labor, and in recent months has promised aggressive action. “We’re not a one-trick pony,” Mr. Silvers told The Wall Street Journal’s Risk & Compliance Forum earlier this month.

☆ Hasbro CEO says inflation won't ruin Christmas but Wall Street is worried
▼ + stars: | 2022-11-23 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

New York CNN Business —The holidays are rapidly approaching, and for the toy company Hasbro, a slowing economy could be a proverbial Grinch that steals Christmas. Before joining Hasbro, Cocks was an executive at Microsoft (MSFT) from 1999 through 2006 and 2008 through 2016. Cocks said Hasbro is investing “significantly” in digital toys, particularly digital versions of classic Hasbro board games like “Monopoly” and “Scrabble” as well as D&D and the company’s “Magic: The Gathering” game. It’s definitely been a boon for the game,” Cocks said. “If there’s a couple of truisms in life, there’s death, there’s taxes, and there’s parents wanting to have a great holiday for their kids.”

☆ The CEO of a company that's purchased $7 billion in real estate expects competitors who've relied on cheap debt will get washed out
▼ + stars: | 2022-11-21 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

As borrowers' debt comes due, rising interest rates will cause defaults and sales. Defaults could cascade through the financial system, putting "trillions" of dollars at risk. After nearly 15 years of rock-bottom interest rates, financial markets — including real estate — are being weaned from easy money by Federal Reserve rate hikes, Benjamin Miller, the CEO, said. Suddenly, landlords might be on the hook for 20% or more of the total value of the property, and their interest rates will be at least double what they were. An even bigger risk to the financial system lies with interest-rate derivatives, or financial contracts used to mimic or bet against rate moves.

Search resuls for: "Pony"

25 mentions found