|Day's Range||25.05 - 27.22|
In 2014, Microsoft acquired Minecraft. Now, it's out with plans to take it into the next generation with an augmented reality version of the game called Minecraft Earth. Corporate Vice President of Xbox Game Studios Matt Booty joins On the Move to discuss.
The best tech stocks to buy and watch are strong price performers with healthy fundamentals, thanks to a new product or service that's driving growth.
Billionaire Ken Fisher is in hot water because of his sexual comments at a financial services conference. Fisher is known for his prestigious Forbes column, titled “Portfolio Strategy”, which he has been writing since 1984, which makes him the longest-running columnist in the publication’s history. He also has written 11 books, four of which became New […]
Amazon.com Inc founder Jeff Bezos said it would support the U.S. Department of Defense as technology companies vie for more defense contracts and the Pentagon seeks to modernize itself. "We are going to support the Department of Defense, this country is important," Bezos said at an annual defense forum at the Reagan Library in Simi Valley, California. Tech companies have faced challenges when trying to work with the Pentagon.
The prestigious contract went to the superior company, despite detractors who claim President Trump opposed Amazon.
Alphabet’s revenue grew 20% in the latest quarter, but earnings haven’t kept pace. Here’s a road map to boosting profits and the stock.
The previous high for an MLB team was in 2012 when the Los Angeles Dodgers were sold while the team was valued at $2.12 billion.
The results of the Seattle City Council elections were a huge disappointment to many of us, writes Tom Alberg, but business can be a driver of change.
At the Cascadia Rail Summit outside Seattle, a fledgling scheme to bring high-speed rail from Portland to Vancouver found an enthusiastic reception.
The best mutual funds invested over $1 billion in Alibaba stock, and took large stakes in several other market leaders, including Microsoft, Splunk and CVS.
The largest public company in the world as measured by market capitalization is now Saudi Arabian Oil Co. Investors may be put off by the bigness, but history shows it has little bearing on stock performance.
As stock market volatility continues, the blue-chip index is showing fluctuation. However, a closer look into the index reveals that not all stocks are erratic.
France rejects a U.S. idea for companies to opt out of a proposed international tax reform, Finance Minister Bruno Le Maire said on Friday, urging Washington to negotiate in good faith. The Paris-based Organisation for Economic Cooperation and Development is in the midst of the biggest rewrite of international tax rules since the 1920s, aimed at updating them globally for the digital era.
On October 2 2018, at 1.14pm, Jamal Khashoggi, probably Saudi Arabia’s best-known journalist, walked into the Saudi consulate in Istanbul, by prior appointment, to collect documents he needed for his forthcoming marriage. The Saudis then said a negotiation to persuade Khashoggi to return to Riyadh from self-imposed exile in Washington had gone badly wrong. Khashoggi, a court insider whose outspokenness fell foul of Mohammed bin Salman, the crown prince and de facto Saudi ruler, had been writing trenchant if measured columns in the Washington Post on the unbridled autocracy of the headstrong young prince.
(Bloomberg) -- SoftBank Group Corp.’s massive investment in WeWork triggered a multi-billion-dollar writedown and a rare apology from founder Masayoshi Son. But one analyst argues the deal is likely to work in the end and SoftBank will have the “last laugh.”Chris Lane of Sanford C. Bernstein says WeWork can have a bright future if SoftBank overhauls the business plan and more carefully focuses on the evolution of the corporate office market. He likens WeWork’s business model to Starbucks’s, where branding, consistency and global scale give it an advantage over the competition.Lane argues WeWork can achieve profitability if it pulls back on extraneous areas and calms a frenetic pace of expansion to focus on filling up existing space. That will allow it to grab an estimated 8% of an emergent market for pre-fitted offices for corporate clients, almost like a white-label tech gadget or home appliance.“We think investors should think of the basic business as being similar to Starbucks,” Lane wrote in a 21-page research report. “While profitable, the scale of profits that can be generated from a single site is small. Starbucks as a corporation only makes sense if you plan to open thousands of outlets.”It’s a contrarian take on a WeWork deal that has been widely viewed as a fiasco. After SoftBank invested in the co-working startup, its planned initial public offering fell apart as investors balked at its enormous losses and conflicted governance. Son conceded “there was a problem with my own judgment” as he announced the writedown last month. SoftBank has put about $14 billion into a startup that’s now valued at less than $8 billion.The Japanese company’s shares are down about 30% from their peak in April. They were little changed on Friday.After discussions with management, Lane explains they see an opportunity for WeWork to move beyond the niche of providing space for entrepreneurs to offering flexible real estate for a broad range of companies. He calls this “managed space as a service” and compares it to “software as a service,” which is the way many companies now buy from Microsoft Corp. and Salesforce.com Inc. WeWork, Lane says, sees the potential to make $500 per month on memberships as “an on-going annuity,” far more than software generates.SoftBank named Marcelo Claure, the former chief executive at Sprint Corp., executive chairman of WeWork and put him in charge of the turnaround effort. Under his leadership, Lane says the company will be able to focus on profitability by stopping any incremental expansion, filling its existing space and slashing overhead by getting rid of expansion staff and non-core businesses. WeWork’s ability to gather data about office-use and optimize layouts -- while not entirely substantiated -- could prove disruptive to the industry, he added.He estimates that WeWork’s revenue will rise from $720 million a quarter to about $1.5 billion if it can push occupancy to 90% on its current portfolio. Once profitable, WeWork will once again try to go public, perhaps in 2023, and then raise additional capital to resume expansion, albeit more slowly than before.With a discounted cash flow model, Lane projects WeWork would have an enterprise value of $28.8 billion in 2025. That would make SoftBank’s 80% stake worth about $19.1 billion, roughly 40% more than the estimated $13.8 billion the company and its Vision Fund have invested.“We believe WeWork’s valuation is justified if you believe in the long-term, ‘office space’ will be a managed service outsourced to professionals – and that WeWork will be the leading global player,” Lane wrote. “Despite the huge embarrassment WeWork has been for SoftBank this year, we suspect SoftBank will have the last laugh when they bring the company back to market in a few years – bigger and profitable.”(Updates with shares in the sixth paragraph.)To contact the reporters on this story: Pavel Alpeyev in Tokyo at firstname.lastname@example.org;Takahiko Hyuga in Tokyo at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
France rejects a U.S. proposal this week that would let companies opt out of a proposed international tax reform, Finance Minister Bruno Le Maire said on Friday, urging Washington to negotiate in good faith. U.S. Treasury Secretary Steven Mnuchin raised serious questions about OECD international tax reform proposals in a letter made public on Wednesday, jarring international officials by floating the idea of a "safe harbor regime". Le Maire said that would mean U.S. companies could opt in or out as they pleased, which he said would be unacceptable to France and other OECD countries.