Business

What a fascinating number

Don’t know whether it’s true or not but I can imagine that it is:

That has fuelled concerns over financial contagion as well as the knock-on impact on the world economy from a slowdown in the country’s property sector which consumes around a quarter of the world’s iron ore.

Evergrande’s obviously going bust, large parts of the sector are likely to follow, iron ore is well off the top and how much further to go?

Don’t forget, iron ore supply in the short to medium term is extremely inelastic with respect to price. You’ve actually got to shut down parts or all of the mine to reduce it. Therefore price is extremely elastic with respect to demand….

Mr Lynn misses the point

The Torygraph’s economics and business commentators (Ben Marlow being the other culprit) do seem to be good at missing the point:

We used to have a name for quoted companies that collected together lots of different businesses under a single corporate umbrella – they were called conglomerates. They rampaged their way through the 1970s and 1980s turning whole industries upside down. But they disappeared because they ended up destroying more value than they ever created. We certainly don’t need them to make a return in the 2020s.

It’s entirely true that the strategy ran out of steam. But that’s not the same as value destruction.

The conglomerates burned brightly for a couple of decades, and, in fairness, shook up some stagnant companies at a time when they needed a blast of fresh energy.

As with evolution itself, there’s no one strategy that works all the time. It is strategy for the surrounding environment that matters, if being the environment that selects for success.

So, asset stripping conglomerates. If the strategy succeeds in making money for shareholders then that means there are underused assets that require shaking up out of their stagnancy.

Cool.

If there are pots of money looking for such and not finding them then we don’t need to give a damn about that, do we?

That is, the activity itself, the existence or not of it, shows that it works or doesn’t. And if it does then we want it, if it doesn’t then who gives a shit? The test is the environment and success in it.

And with a number of large companies pissing the cash away on varied wokeisms, who is absolutely sure that there aren’t assets out there to be shaken up?

The depth of knowledge here is just astonishing

The problem isn’t them. High-quality ingredients are expensive and time-consuming to prepare when they’re available at all, and people with low wages and long hours—the people most likely to have suffered catastrophic effects of the pandemic, no matter their weight—do not have much time or money to spare.

This is simply insane. I’ll use UK figures just because I know them off the top of my head but the US is similar if not actually better.

The average household food bill is £60 a week (the average weekly grocery bill in the US is $90 a week, average wage is around $25 an hour, maybe $28). The average hourly wage is £14. Four and a half hours work by one averagely paid individual feeds a household for a week.

That’s not expensive food. That’s the cheapest food has been in the history of our entire species.

People talking about expensive food are quite literally insane.

How Soviet

This brings back memories:

The accounting and consulting firm KPMG has become the first big business in Britain to set a target for the number of working-class staff.

It is aiming for 29 per cent of its partners and directors to come from the social group by 2030. It defined working class as having parents with “routine and manual” jobs, such as plumbers, electricians, butchers and van drivers.

Folks should be drawn from the socially responsible classes……

But the pandemic isn’t driving calls

Meat wars: why Biden wants to break up the powerful US beef industry
As the pandemic drives calls for a radical overhaul of the food system, can the president take on the meat giants?

The pandemic is an excuse, not a reason.

Essentially, what’s going on here is that the progressives want to be able to replace simple and set laws about antitrust with bureaucratic caprice. Because that’s what increases the power of the progressives of course.

Buggers the business, don’t it?

OnlyFans, the subscription website often associated with pornography, is banning “sexually explicit” content at the request of its bankers.

The company, founded in 2016 by Essex-born chief executive Tim Stokely, said on Thursday it will “prohibit the posting of any content containing sexually-explicit conduct” from October 1.

We’re sure you do Matey

Gary Jennison, chief executive of Amigo, said: “In the last 10 months we’ve built an entirely new management team at Amigo to address the historic problems facing the business. We’re currently working night and day to do everything we possibly can to reach a solution that is best for all of our stakeholders.

“We want a scheme of arrangement that delivers fair recompense to customers; we want to deliver returns to our 8,000 individual shareholders and security to our bondholders; we want the regulator to be satisfied with our actions and we want to keep our 220 remaining staff in employment. In future we want to stay in business to serve the 15 million British people that can’t get a loan from a high street bank and can’t get a loan anywhere else at less than 100pc [interest rate].”

But given those compensation costs it’s unlikely that you are going to be able to do that. In fact, given those compensation costs it would be better to start all over again inside a new corporate shell…..or not, as the case may be.

In larger terms this is a lesson for all about all that high cost credit and all. It’s expensive to make loans to low credit rating customers. Which is why the companies that do it don’t make excess profits. Or, as it appears here, any. At which point complaints about APR rates rather fade away – it’s an expensive thing to do therefore it’s an expensive thing to buy.

This is a surprise, isn’t it?

Investors in a property firm are on the brink of financial ruin and face homelessness after the group reneged on its interest payments and pressured them to waive rights to withdraw their cash.

DIY savers put more than £50m into high-risk loan notes with The High Street Group, attracted by the promise of 12pc annual returns and 22pc after seven years. However, the £1.5bn investment firm has defaulted on its interest payments and blocked investors from redeeming their money despite guaranteeing yearly access, a Telegraph Money investigation has found.

Last week its founder and chairman, Gary Forrest, left the company.

12% a year on notes. Bit of a red flag, no?

Not how it works Mr. Coates, not how it works

Re Marvel and DC comic writers:

Comic creators are “work-for-hire”, so the companies they work for owe them nothing beyond a flat fee and royalty payments.

Work for hire often doesn’t even include royalty payments. Those few pieces I did for The Guardian were bought out – all rights – for £85 each, for example.

Bestselling author Ta-Nehisi Coates, who wrote a run of Marvel’s Black Panther and followed Brubaker and Epting’s Captain America run with his own a few years later, says that he believes Marvel has moral obligations to its artists and writers that go beyond contracts.

“Long before I was writing Captain America, I read [Brubaker and Epting’s] Death of Captain America storyline, and Return of the Winter Soldier, and it was some of the most thrilling storytelling I’d ever read,” Coates says. “I’d rather read it than watch the movies – I love the movies too – but it doesn’t seem just for them to extract what Steve and Ed put into this and create a multi-billion dollar franchise.”

Coates says he feels fairly treated when it comes to his own work, but he is adamant that lesser known names deserve better treatment from the big studios, no matter what their contracts say: “Just because it’s in a contract doesn’t make it right. If I have some kind of leverage over you, I can get you to sign a contract to fuck you over. It’s just legalist.”

The contract is the demonstration of the leverage you have at that point in time. That’s actually what it’s for, to register these things frozen at that point in time.

7 Best Ways to Grow Your Business and Finance Together

Are you planning to leave your boring and cumbersome 9 to 5 job? Maybe yes. However, you have this constant fear about how to opt for a business. It is no easy job to manage an entire business completely alone.

There are several aspects that you need to pay attention to in order to run an amazing business. It is also important to know certain tricks here and there for better management practices. You need to know and understand different important concepts associated with business.

Business and finance go hand in hand and you need to realize that before it is too late. Here are 7 best ways to grow your business and finance together.

Know Your Customers

In any business, customers are the most important people. You probably know that by now, since you have already planned on opting for business. If you know and understand the needs, requirements and concerns of them, then you are sorted. Just the way TopAssignmentExperts help students with their assignments, customers will help you grow your business. Since growth of business and finance go hand in hand, customer satisfaction paves the way for even that.

If you are able to cater to their wants and needs, then they will make sure that your business is experiencing growth. Increased growth in the business, in a way, equals to increased financial growth simultaneously. You can also improve your products and services with time by asking your customers to provide feedback. Getting feedback will enhance your business processes as well as improve your financial gain.

Know Your Competitors

Treat business as a war. In a war, you always go prepared on the war field. Similarly, you need to prepare and brace yourself before you embark on your new journey. Business might sound simple at the very outset, but there are a multitude of nuances which you must pay attention to.

One of the very significant nuances of business is competition and market rivals. You cannot simply jump into a market without a proper and comprehensive knowledge of the market background and your competitors.

If you are aware of the nature of competition, you will be able to prepare well for your business. You will have plans during times of crisis. You will always try to be a step ahead of your competitors. As a result of this, you will grow exponentially in both your business and your finances.

Build Sales Funnel

If you want to grow your business and finance together, then you need to build your sales funnel. In marketing, a sales funnel can be described as the journey through which potential customers go through for their purchase. You have to build your sales funnel in order to automate your business.

If you are not focusing on building a sales funnel, then you are taking the wrong step. Katherine takes English homework help, you too should take the help of a sales funnel to grow your business and finance. Sales funnel will help you in scaling your business as well as in the process of growing it. Therefore, do yourself a favor, and get started with your sales funnel already.

Great Service

Great service always speaks the loudest. If you are able to give amazing service to your customers, your business will experience a great amount of growth. There is no doubt about that. However, you have to make sure that you are not being biased with any particular customer, but looking at them collectively.

For instance, there is a customer who needs a certain product which is currently not available. It is your duty to convey the truth honestly to your customer in a polite manner. You will also have to ensure him/her that you will look into this and get back to him/her at the earliest with the product.

Make sure that your customer is satisfied with your behavior as well as your demeanor. This can be treated as a good example of service. Such services will ensure that your customer would want to come back to you for the products. Good sales will ensure that you stay financially afloat in the market.

Nurture Present Customers

Business is all about expansion. You need new customers, introduce new products and services and so on. However, you need to hold on to your old customers. They are extremely loyal and are a strong pillar for your business. The loyal customers will stay with you even when the time is not right for you.

You need to find out new strategies here and there, to stay in close contact with your old customers. Send them greetings, connect with them through e-newsletters, and let them know of promotional events.

You can also send those personalized invites for certain events in your business organization. Treat them with love and respect, and you will be able to secure a strong business in a few months or years.

Find New Opportunities

You have to always look for new opportunities. New opportunities are like windows that will bring in bright light to your business. It will help your business grow in every possible manner. Try and reach out to people every now and then.

Extend your business by developing a comprehensive understanding regarding the demographics in a better and improved way. You also need to be very observant when finding new opportunities.

That will help you to find small things that can bring about growth, both to your business as well as your finance.

Use Social Media

Social media is the place where you have to be in order to grow your business. Just the way there are college term papers for sale, social media can also help in bettering your financial state. If you do a bit of social listening, you will be able to know a lot about the latest trends understand what people are thinking, gain insight regarding your behavior and so on.

Through the help of social media, you will be able to stay abreast with your business. The comments and opinions will help your business to grow. You can also use social media platforms for various promotions. It will enhance your sales margin, thereby improving the finance of your business.

No, this is the other lot

A cutting-edge start-up founded by a quartet of British university scientists has been valued at $3.2bn (£2.3bn) in one of the largest bets yet on a breakthrough that it is claimed will revolutionise computing.

PsiQuantum, launched by professors at the University of Bristol and Imperial College London, has raised $450m from backers including BlackRock, Microsoft and Scotland’s Baillie Gifford.

Our reader here, who is also a British professor of quantum computing, is in the other lot. Who have not just been invested in at such a valuation.

Possibly not enough

Paula Vennells, the former chief executive of the Post Office, could be stripped of her CBE under Government plans to launch a review into honours awarded to people embroiled in the Horizon subpostmasters scandal.

The Telegraph has been told that ministers are looking at launching a review into the scandal, which is expected to involve a list of names of figures involved being compiled, along with an assessment of the level of their involvement.

Sources said Mr Johnson and Robert Buckland, the Justice Secretary, were “very exercised” about the scandal, which is considered the most widespread miscarriage of justice in British history.

Possibly we might run with the idea of substantial jail time. To, you know, encourage other civil servants – or even corporate executives – to exercise their duty of care in the future?

This is fun, isn’t it?

Speaking of Haiti:

The power vacuum and dangerous instability in the Francophone nation result from many factors, but the American media ignore big ones, including state capture by elites, a grim monopolism that characterizes the country’s economy, and neoliberal policies imposed by the United States and international institutions.

State capture and monopoly are just so characteristic of neoliberalism, aren’t they?

if Washington is serious about helping to stabilize Haiti’s government and lift its citizens out of misery, it should use its aid and influence to promote economic democracy through competition and anti-monopoly enforcement.

Those policies, generally, being called neoliberalism, no?

Wonder if they’ll bother to read the whole piece

Brussels has shelved plans for a sweeping new digital tax, just hours after Apple revealed that it shifted a record £720m of profits into Ireland from its British operations last year.

Terror!

It came after Apple published accounts showing that the iPhone maker’s three UK-headquartered businesses paid dividends worth just over £600m to their Irish parent in the year to September 2020. Another £120m was paid out in December.

Oh, hang on, it’s not shifted any profits at all. It’s declared them, paid the tax upon them then moved the net of tax end amount.

It is understood that the payments were made after incurring UK tax.

Points will be awarded for spotting who gets this wrong.

I’ve an idea here!

“This is why we are calling for interested partners to come forward with their innovative ideas and help play a pivotal part in the Government’s plans to improve public health.”

OK.

Dieters could be given supermarket discounts and shopping vouchers under NHS plans to pilot financial rewards for weight loss.

Health chiefs are launching a £6 million pilot scheme that will see incentives offered to those who shed the pounds. Companies such as supermarkets and fitness firms are being asked to bid to run the systems, which could be expanded across the country if they succeed.

Rightie ho. A new brand of biccies. “Worstall’s”.

Sorta Garibaldis dipped in white then in plain chocolate. Available only – ONLY – with the shopping vouchers. Taglne “You Deserve It!”

The restriction to vouchers is that only good little boys and girls who have lost weight deserve such a treat……

Seems reasonable to me

As it turned out, though, some of them thrived as our spending habits changed. And JD Sports was one of the winners. Its profits are set to rise by at least 70% to an estimated £550m this year.

Take Peter Cowgill, for example, executive chairman of JD Sports. He has been paid almost £6m in bonuses since February last year.

And?

Jesus, how deluded are these people?

Significantly, the indictment did not trigger a default under Deutsche Bank’s loan documents. Trump and his lenders can exhale, a little. Right now, the prospects of forfeiture and foreclosure and the necessity of refinancing Trump’s loan packages are not staring back at them.

There’s an assumption that if Deutsche asks for repayment then that’s Trump done for. I’ve even seen the assumption that if the $400 million – or whatever – loans are called in then that’s that, Trump’s bust.

No, this isn’t how it works. It’s the difference in value between the properties and the loans that matters. If the properties are worth $4 billion and the loans $400 million then refinancing is as easy as you or I getting a £1,000 overdraft. If the properties are worth $200 million and the loans $400 million then Trump’s fucked. But that’s the bit that never does seem to get mentioned.

It’s insane. I keep seeing this insistence that if those loans are called then Trump’s bust. It’s just not true. Not without a lot more information over the valuations of the properties it’s not at least.