Journalism Buddhism http://journalismbuddhism.org Tue, 12 Sep 2017 11:13:42 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.4 Halfords Hopes That the Olympic Effect Will Increase UK Bicycle Sales http://journalismbuddhism.org/halfords-hopes-olympic-effect-will-increase-uk-bicycle-sales/ Tue, 12 Sep 2017 11:05:36 +0000 http://journalismbuddhism.org/?p=32 Halfords is now hoping for a good rise from the exploits of Laura Trott and Bradley Wiggins at the Rio 2016 Olympics, after the slowing bike sales showed by the retailer’s annual results. The bikes, car parts and accessories retailer said pre-tax profit before one off items reached up to 81.5 million pounds from 81.1 … Continue reading "Halfords Hopes That the Olympic Effect Will Increase UK Bicycle Sales"

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Halfords is now hoping for a good rise from the exploits of Laura Trott and Bradley Wiggins at the Rio 2016 Olympics, after the slowing bike sales showed by the retailer’s annual results. The bikes, car parts and accessories retailer said pre-tax profit before one off items reached up to 81.5 million pounds from 81.1 million pounds in the year. Cycling sales came down to 0.8 percent due to a drop in the second quarter although the business picked up later in the same year. Motoring the retail revenues and sales of the MOT as well as other car services increased by 2.6 percent.

The fortunes of Halfords’ have now become linked to the British cycling craze, which followed medals for Wiggins and other riders during the 2012 London Olympics. Although the motoring makes up about seventy percent of Halfords’ business, cycling has now accounted for much of the group’s growth in the recent past. A series of more cycling victories that include the Tour de France wins for Wiggins plus Chris Froome and also the tour to the UK in 2014 had a good momentum. However, sales got a blow last summer as the bad weather stopped casual cyclists from taking to the road or upgrading their kit and the competition between the retailers drove margins down.

The Rio event will commence on August 5 and Wiggins will be taking part yet again along with Laura Trott. Halfords had signed up Wiggins in November to assist in designing a range of children’s bikes, which will go on sale before the games; Trott has worked on the women’s range bearing her name.

The chief executive officer of Halfords, Mr. Jill McDonald stated that when big sporting events are on, cycling will most probably come to the forefront of people’s minds. He said that they are expecting great things from Sir Bradley as well as Laura Trott and hope that cycling will be in the minds of the public. He added that that they would expect some form of bounce, which they will have to wait and see.

The former head of McDonald’s UK, McDonald took over at Halfords one year ago, by replacing the bike enthusiast Matt Davies, who had left to run Tesco’s British business. She said that after carrying out the review of the British cycling market she had expected bike sales to increase by 4 to 5 percent per year and for Halfords to shoot up its share of that market.

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Disappointing US Corporate Earnings Keep Markets Subdued http://journalismbuddhism.org/disappointing-us-corporate-earnings-keep-markets-subdued/ Thu, 31 Aug 2017 11:10:20 +0000 http://journalismbuddhism.org/?p=38 Financial markets were seen starting off on a flat note after yet another series of pretty disappointing corporate earnings in US and before the final presidential debate for an election, which is expected to be a tight one. With lack of data related to economy in the week and without any sign of any major … Continue reading "Disappointing US Corporate Earnings Keep Markets Subdued"

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Financial markets were seen starting off on a flat note after yet another series of pretty disappointing corporate earnings in US and before the final presidential debate for an election, which is expected to be a tight one. With lack of data related to economy in the week and without any sign of any major event related to debt crisis in Europe, investors are likely to pay more attention to developments in US.

A poor forecast of earnings from major equipment manufacturer, Caterpillar and few other discouraging corporate results once again disappointed the investors this Monday. While Wall Street was seen opening flat, markets in Europe lost majority of the gains. Towards the later half of the day, the focus is likely to shift to the technology sector, with Yahoo scheduled to announce trading update. Last week, broad retreat was witnessed due to poor results from tech giants like Microsoft and Google.

In Europe, DAX of Germany plunged 0.5% reaching 7,340 and the French CAC-40 fell 0.3% to 3,493. The FTSE 100 index was recorded 0.1% lower at 5,889. BP of Britain was in spotlight after confirming that it had decided to sell 50% of its TNK-BP’ stake to Rosneft for $17.1 billion and 12.84% of its stake in Russian oil group. The company plans to increase its Rosneft’s stake to 19.75% with the money it acquired. BP shares contracted 1.8%.

The Dow Jones industrial average in US was flat and was recorded at 13,338 and the wider S&P 500 index was also seen sailing steadily at 1,433. The financial markets are also getting affected by the ongoing presidential election fight, not least as the fight between Mitt Romney and Obama continue to appear to be a very close one. Coming Monday, they will take part in their last debate, which will mostly be about foreign affairs.

One of the analysts at BMO Capital Markets, Benjamin Reitzes said that one of the interesting points to look forward to this debate would be Romney’s take on the pledge to consider China as currency manipulator and this could in turn result in increasing protectionism in between the two nations.

Trading in Asia was seen subdued. Nikkei 225 in Japan increased just 0.1% to reach at 9,010.71, mainly weighed down due to trade deficit widening in the month of September. Kospi in South Korea plunged 0.1% to arrive 1,941.59 and Hang Seng of Hong Kong increased 0.7% to 21,697.55.

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Fracking fuels $6 billion worth William-Access deal http://journalismbuddhism.org/fracking-fuels-6-billion-worth-william-access-deal/ Thu, 10 Aug 2017 11:08:19 +0000 http://journalismbuddhism.org/?p=35 A merger between the ACMP (Access Midstream Partners LP) and WPZ (Williams Partners LP is being proposed after a purchase of $6 billion worth of shares, which may make one of the biggest ever U.S. fuel transporters during a period when there is an exploration of increased natural-gas. In an official statement, Williams Partners revealed … Continue reading "Fracking fuels $6 billion worth William-Access deal"

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A merger between the ACMP (Access Midstream Partners LP) and WPZ (Williams Partners LP is being proposed after a purchase of $6 billion worth of shares, which may make one of the biggest ever U.S. fuel transporters during a period when there is an exploration of increased natural-gas.

In an official statement, Williams Partners revealed that the company in charge of Williams Partners, Williams Cos has agreed upon buying control from Global Infrastructure Partners II of the Access Midstream. The joint business entity will now have a market value of nearly $36.9 billion.

This deal has come in the midst of surging local energy production and pipeline demands which has been dubbed by the Williams Cos as an “ongoing energy infrastructure super-cycle.” Further advancements of drilling technologies involves a method called fracking which has helped the country come to terms with its energy needs, while needing newer methods of moving fuels to the market.

With around $13.2 billion market capitalization, Access will offer gas and oil collection services to Anadarko Petroleum Corp, Chesapeake Energy Corp., and various other exploration companies as per 2013 yearly report. Their shares have gone up by 16% so far this year.

The Chief Executive officer of William, Alan Armstrong stated – “We expect the acquisition to deliver immediate and future dividend growth for Williams’ shareholders and to further enhance our presence in attractive growth basins. In addition, we expect the acquisition of Access Midstream Partners will fortify Williams’ stable, fee-based business model and support our industry-leading dividend growth strategy.”

This deal was clinched around 4 months after the company kept away a possible proxy fight while giving away board seats to Eric Mandelblatt and Keith Meister, activist investors who pushed them to take into consideration “strategic combinations.”

As per the statement, Williams asked for an exchange of 0.85 Access units for every Williams Partners unit. Williams shut down at $52.92 on Friday as compared to $65.36 for Access which implied a premium of 5%. In a separate statement, Access Midstream indicated that they were not in favour of a merger but will consider the proposal. The CEO of Access Midstream, Mike Stice stated – “since Williams invested in ACMP in 2012, it’s been clear to me that our companies share many common values.”

This purchase, which is not contingent on the related merger, will increase the ownership of Williams over Access to a 50% of the limited partnership and a 100% of the general partnership as per the statement.

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Facebook Sales Office at China to Face Legal Complexities http://journalismbuddhism.org/facebook-sales-office-china-face-legal-complexities/ Tue, 25 Jul 2017 11:01:00 +0000 http://journalismbuddhism.org/?p=26 Facebook Inc is planning its operations in China with a new sales office to coordinate with the local market for advertising. For the first time, FB officials will be working at China if the operation is approved. As per a source, FB would establish their office in China within a year so as to provide … Continue reading "Facebook Sales Office at China to Face Legal Complexities"

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Facebook Inc is planning its operations in China with a new sales office to coordinate with the local market for advertising. For the first time, FB officials will be working at China if the operation is approved.

As per a source, FB would establish their office in China within a year so as to provide service to the soaring potential local customers. Facebook is looking forward to set up its office at a leased space at Fortune Financial Center at Beijing’s central business district. As per a source, it has not been decided whether the sales office will be outsourced to any contractor or engaged with full time employees that require prior operating license.

Facebook sales office in China would be a significant venture as the country has proved itself as one of the largest and potential markets across the globe and is yet to be tapped by Facebook. In 2009, Facebook applications were banned by Chinese government, but the company ran an office in Hong Kong and provided service to national customers who showed interest to get in touch with the international users.

As per Facebook’s VP, Mr. Vaughan Smith, the team at Hong Kong is facilitating the local business houses through FB platform and looking forward to expand so as to give better support to the local customers; therefore setting up a sales office would be a wiser step. But the timings and location about the China office is not yet emphasized by the VP.

China Hindrances

 China has always been a difficult market for the US; companies like Yahoo Inc and Ebay Inc are still struggling to engulf the market. In 2010, Google denied the local online censorship policies and closed the local search page. Recently, LinkedIn showed interest to expand in China and ensured to launch Chinese website intact with the censorship policies.

As per a statement by Director of Markey Research Group at Shanghai, the market is still unstable and it’s difficult to see Facebook in the near future.

Meandering Path

The local web companies have flourished in the absence of US media firms in China; recently Sina Corp, which is a local company similar to Twitter, has grabbed 129 million users and also went public in US last month. Facebook declared its manifesto in the 2012 IPO and said that due to some legal complications it was unable to tap the Chinese market, which is the land of internet users. “However there are enormous FB developers working from China,” said Mr. Smith at the Global mobile internet conference in Beijing on May 6th.

Asia is the productive sector for FB as it earns about 14% of its revenue from here. In September, Sheryl Sandberg, the Chief Operating Officer of Facebook met with the government official Cai Mingzhao associated with overseas internet controls in China and discussed about the roles and responsibilities of Facebook in expanding the national business at an international level.

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Uber Plans to Invest a Substantial Portion of $3.5 Billion Fundraise In India http://journalismbuddhism.org/uber-plans-invest-substantial-portion-3-5-billion-fundraise-india/ Fri, 14 Jul 2017 11:03:27 +0000 http://journalismbuddhism.org/?p=29 Uber is moving ahead in its quest to build a global empire. This time, it turned to the Middle East for its biggest infusion of cash, $3.5 billion from a single investor, Saudi Arabia’s public investment fund. Travis Kalanick, one of Uber’s founders and its chief executive said, “We appreciate the vote of confidence in … Continue reading "Uber Plans to Invest a Substantial Portion of $3.5 Billion Fundraise In India"

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Uber is moving ahead in its quest to build a global empire. This time, it turned to the Middle East for its biggest infusion of cash, $3.5 billion from a single investor, Saudi Arabia’s public investment fund.

Travis Kalanick, one of Uber’s founders and its chief executive said, “We appreciate the vote of confidence in our business as we continue to expand our global presence. Our experience in Saudi Arabia is a great example of how Uber can benefit riders, drivers and cities and we look forward to partnering to support their economic and social reforms.

Uber has collected more than $11 billion from investors since its inception and is Silicon Valley’s most valuable private business.

Uber has its presence in 69 countries covering more than 460 cities. It has been spending to expand and also defend its territories. It is getting tough competition from rivals in some places like China where it has to spend huge amounts in subsidy war with DidiChuxing, the dominant ride-hailing domestic start-up.

With the new capital infusion, the company plans to expand the service in Saudi Arabia where 80% of its users are women. They are banned from driving themselves in the country and hence are mostly dependent on cab service for commuting.

The company also has plans to invest a substantial portion of USD 3.5-billion funding in India. It is determined to overtake local rival Ola. Uber India President Amit Jain told PTI,

A substantial portion will be for India. We have grown exponentially over the last two years and remain bullish on the Indian market where we continue to register remarkable growth.”

Mr. Jain further clarified that it is global fund and will be used for strategic investments in global priority markets like India. After US and China, India is the third largest market for the company in terms of a number of trips. So, the company intends to focus on growing the business here. Last July also, Uber had announced an investment of USD 1 billion in India to expand its services in India

The latest funding has made Uber one of the most highly valued venture capital-backed companies globally valuing the company at USD 62.5 billion

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Chennai Retains the Third Position as the Costliest Place in India http://journalismbuddhism.org/chennai-retains-third-position-costliest-place-india/ Thu, 29 Jun 2017 10:57:40 +0000 http://journalismbuddhism.org/?p=23 An average estimated increase of five percent increase in footwear and clothing and an increase of fourteen percent in the house rentals has made Chennai the third most expensive city in the nation. A New York based HR consulting firm has estimated that the city Chennai comes after Mumbai, which is the country’s costliest city … Continue reading "Chennai Retains the Third Position as the Costliest Place in India"

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An average estimated increase of five percent increase in footwear and clothing and an increase of fourteen percent in the house rentals has made Chennai the third most expensive city in the nation.

A New York based HR consulting firm has estimated that the city Chennai comes after Mumbai, which is the country’s costliest city followed by Delhi. The survey basically calculates the cost of living based on close to two hundred items that range from housing to transport, which the expats generally spend their money on.

This survey will certainly help the MNC’s to determine the salary levels when they are posting their employees across the world. However, when you see it in global standing, Chennai dropped by 1 rank and was the 159th most expensive city. The previous year’s survey by the company predicted that Chennai was 158th most expensive city in the world.

The firm stated that the city is the costliest when it comes to clothing and footwear and this category has seen a rise of four percent over last year. However, if you see the overall cost of living index, the survey discovered that Chennai is just five percent less than Delhi. The survey also detected that the cost of dairy products and groceries in Chennai can be compared to cities like Delhi and Mumbai.

House rentals have seen an incredible rise in the past one year in Chennai. The survey stated that when compared to the previous year’s study the house rentals has seen an increase of 13 percent.

According to the survey, Chennai now ranks second after Mumbai in the cost of tobacco and alcohol. There is a lot of Government run TASMAC shops as well, but the expats might not have noticed this in the city.

Though Chennai’s cost of living can be a serious concern for the common man, the neighboring city Bangalore, which currently ranks twenty two places below the Chennai city in the global list, is also catching up pretty fast. It has now jumped by 3 places from the 183rd spot in the year 2015 to 180th position in the current year, Bengaluru city has seen very good rise in inflation. When compared to the other Indian cities, Bangalore actually saw the biggest increase in annual inflation from approximately 3.5 percent to 6.09 percent.

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