Blue Bottle Coffee offers drip coffee that costs roughly $5 per cup at more than 75 cafe locations around the world. The company touts its high-quality single-origin, freshly roasted artisanal beans. Based on Nestle's 2017 purchase of a majority stake in Blue Bottle the latter has a valuation of more than $700 million.
Before he founded Blue Bottle, James Freeman was a struggling classical musician roasting his own fresh beans as a hobby. Since he was obsessed with drinking the freshest cup of coffee he could find he purchased raw, green coffee beans before heating them himself. Freeman felt that most retail coffee chains over-roasted their beans.
(qlmbusinessnews.com via news.sky.com– Mon, 15th July 2019) London, Uk – –
The retailer's investors react nervously as the company delays its annual results citing several factors.
Shares in Mike Ashley's Sports Direct have dived more than 10% after the retailer said it had delayed the publication of its annual results.
The company, whose shares trade on the FTSE 250, blamed problems integrating its purchase of House of Fraser (HoF) stores last summer and increased scrutiny of its accounts.
It added that this could affect its financial forecasts.
Sports Direct had been due to publish results for the year to 28 April on Thursday but said it now expected to release them between 26 July and 23 August.
Its statement said: “The reasons for the delay are the complexities of the integration into the company of the House of Fraser business, and the current uncertainty as to the future trading performance of this business, together with the increased regulatory scrutiny of auditors and audits including the FRC (Financial Reporting Council) review of Grant Thornton's audit of the financial statements of Sports Direct for the period ended 29 April 2018.”
In December, Sports Direct had described trading as “unbelievably bad” with significant challenges for House of Fraser, which it had bought out of administration at the height of the high street crisis.
It has since lost a major stake in the collapse and rebirth of struggling Debenhams and it is currently in the process of taking full control of Game Digital.
Shares – down almost 40% this year – fell more than 12% in early deals on Monday.
Neil Wilson, chief market analyst at Markets.com, said of the announcement: “The big question was what impact House of Fraser and various other acquisitions of dubious value would have on Sports Direct results. A material impact, one can only assume. HoF must be losing money hand over fist.
“Looking to the earnings, top line growth is expected to rise but profits are seen weaker as the cost of acquisitions weighs.
“Since reporting a 27% decline in underlying profits in the first half we've not heard a peep from Sports Direct on performance.
“The delay in delivering the annual results does not sit well with investors, who must be nervous about what it means.
“It seems likely it's been a tough ride in the core Sports Direct retail division, whilst acquisitions have added nothing but increased costs,” he added.
Here's a day in the life of me and my wife Elena Cardone. A private plane from Miami to Houston, real estate shopping, then a trip to Las Vegas to speak at Thrive. How do you build an empire? You're either creating or destroying something every day! If you don't want to do something, but know you should, do it anyway. No matter how you feel. That's how you fast track your way to success .
“Find something you love, and find something that can change a billion lives.”
Dan Peña is by far one of the most eccentric American businessmen. Dwelling in the 550 year old Guthrie Castle in Scotland, Dan was originally known for turning $820 into $450 million in the oil business in the 1980s. Since then he has taken a break from the business world to focus on mentoring elite executives and boasts a net worth creation of $50 billion. As Ripley used to say, “Believe it, or not.”
Robert Kiyosaki is an entrepreneur, educator, and investor, best known as the author of Rich Dad Poor Dad—the #1 personal finance book of all time. He has challenged and changed the way tens of millions of people around the world think about money. And he has become a passionate and outspoken advocate for financial education.
Sweetgreen is now the restaurant world's first “unicorn,” valued at over $1 billion. Started by three college friends out of their dorm room at Georgetown University, the salad company has 91 locations with more in the works and is vying to become the digital food platform of the future.
The labor market is changing faster than you might realize. Demographic changes and technological advancements may lead to the net loss of 5 million jobs by 2020, according to a report published by the World Economic Forum. In total, the report estimates that a total of 7.1 million jobs could be lost, the majority of which will be white-collar office and administrative jobs. The report, called “The Future of Jobs,” surveyed executives from more than 350 employers across nine industries in 15 of the world’s largest economies to come up with its predictions about how the labor markets will evolve. While the job landscape is expected to undergo radical changes over the next few years, the report predicts that there will also be certain occupations that are more in demand. Here in this video you will come to know some of the job categories that are expected to see growth. Please note that the information provided in this video is based on world economic forum.
(qlmbusinessnews.com via theguardian.com – – Tue, 21st May 2019) London, Uk – –
Fraudsters use professional-looking websites and promise high returns
Investment scams involving cryptocurrencies such as bitcoin and foreign currency trading have tripled in a year, with the average victim losing £14,600, according to the UK’s Financial Conduct Authority (FCA).
The regulator and the police-run body Action Fraud are warning the public to be wary, with the scams typically promising high returns and carried out via bogus online trading platforms. More than £27m was lost to frauds involving so-called crypto-assets and forex investments in 2018-19, said the FCA.
Crypto-assets is a broad term covering many different types of products. The most popular include tokens such as bitcoin and litecoin. The FCA calls these “exchange tokens,” though they are often referred to as cryptocurrencies, cryptocoins or payment tokens.
The number of such scams reported more than tripled last year to 1,834, from 530 in 2017-18.
Fraudsters often used social media to promote their “get rich quick” online trading platforms, the FCA said. Posts often used fake celebrity endorsements and images of luxury items such as expensive watches and cars, that link to professional-looking websites where consumers are persuaded to invest.
Investors will often be led to believe that their first investment has successfully made a profit. The fraudster will then contact the victim to urge them to invest more money or introduce friends and family, but eventually the returns stop, the customer’s account is closed and the scammer disappears with no further contact.
The first thing you should know about Palm Beach is that it's an island (unto itself) – the most exclusive town in America, and (according to writer Laurence Leamer) America's first “gated community.” Mo Rocca takes a tour of the city that rose from Florida's tropical wilderness, which today features one of the richest commercial strips in America, and is home to Mar-a-Lago, the “Winter White House” resort of President Donald Trump.
(qlmbusinessnews.com via bbc.co.uk – – Fri, 17th May 2019) London, Uk – –
Online giant Amazon has announced a big investment in food courier Deliveroo.
The exact figure was not given, but Amazon is the biggest investor in Deliveroo's latest round of fund raising, which in total raised $575m (£450m).
Deliveroo said it would use the money for international expansion, improving its service and to grow its delivery-only kitchens business.
Several existing US investors also contributed to the fund raising.
The amount of capital invested in Deliveroo since it was founded in 2013 now totals more than $1.5bn, and the firm is one of Europe's fastest growing technology companies.
Deliveroo founder and chief executive Will Shu said he was looking forward to working with “such a customer-obsessed organisation” like Amazon.
Amazon said it was attracted by Deliveroo's “innovative technology service”.
The backing from Amazon gives Deliveroo a boost against rivals such as JustEat and Uber Eats.
The online retailer briefly had its own UK food delivery venture, Amazon Restaurants UK, which it started in 2016 but closed just two years later.
“They [Amazon] weren't able to compete within the market so they've gone for the buying option instead. They've got the money behind them to do that,” Louise Dudley, fund manager at investment firm Hermes, told the BBC's Today programme.
“It [Deliveroo] is not just a food delivery company it's very much a tech company. They have this tech platform that is seen is very attractive. They are able to expand into new areas and think about how people's tastes are evolving and be able to predict what stores will be successful. That predictive growth is very attractive to Amazon”.
Amazon had previously been reported to have made approaches to buy Deliveroo outright. Uber also reportedly had talks with Deliveroo over buying it.
Rory Cellan-Jones Technology correspondent
It was already a fierce contest – now the battle to dominate the food delivery business in the UK just moved to a whole new level.
In a rare failure Amazon decided last year to pull its Restaurants food service out of a UK market where Deliveroo, Just Eat and Uber Eats were scrapping to be top dog. Now it's put its firepower behind Deliveroo, which was already confident that its technology platform gave it the edge.
The company will now use some of its extra cash to build more of its “super kitchens” expanding its offering beyond traditional restaurants and invest more in machine learning to speed up delivery times.
Whether the market for food deliveries is quite as big as all the firms believe – and whether it stretches far beyond London twenty-somethings – remains to be seen but they all seem prepared to spend big money to win the lion's share.
The question is why did Amazon not just buy the whole business? Perhaps the ecommerce giant wanted to sample a starter before swallowing the whole three course meal.
Deliveroo now operates in more than 100 towns and cities across the UK, but has a much smaller share of the market than rival Just Eat which dominates the food delivery sector.
Just Eat's shares fell 8% in early trading, but analysts at Liberum said that despite the extra funding, Deliveroo was unlikely to become a serious competitor.
“Just Eat's market leading position will be incredibly difficult to overcome, especially given its strength in smaller towns.
“In the UK, it has an estimated 3-4 times greater share than Uber Eats and Deliveroo combined and, crucially, 60%+ of its customers are in small towns where it is effectively the only option for restaurants and where the Uber Eats/Deliveroo model just doesn't work because of the economics,” Liberum said.
Mr Shu came up with the idea for the firm after he moved from New York to London as a banking analyst. He was working long hours and was frustrated by the fact so few restaurants delivered, a service he had used daily in the US.
In the firm's early days, Mr Shu delivered all the food himself on a motorbike, while Greg Orlowski, his co-founder who has since left the business, developed the booking technology from his home in the US. Mr Shu still claims to get on his bike once a week to deliver an order to customers in London, as a way of staying in touch with riders.
As well as the UK, Deliveroo now operates in Australia, Belgium, France, Germany, Hong Kong, Italy, Ireland, Netherlands, Singapore, Spain, the United Arab Emirates and Taiwan.
Global sales at the firm more than doubled in 2017, jumping to £277m, but its losses continued to increase, doubling to nearly £185m as it invested in global expansion.
The firm uses more than 60,000 couriers – mostly using bikes or moped – to deliver food from restaurants to customers.
Deliveroo does not employ its riders directly, but pays them per delivery.
Last year, a group of 50 UK Deliveroo couriers won a six-figure payout after claiming they had been unlawfully denied holiday and minimum wages.
He's a Nigerian billionaire, who owns the Dangote Group, which has interests in commodities. His company operates in Nigeria and other African countries. As of January 2015, he had an estimated net worth of US$18.6 billion. He's Aliko Dangote and here are his Top 10 Rules for Success.
Patrice Washington is the Founder and CEO of Seek Wisdom Find Wealth, a personal finance training and development firm focused on moving you from debt management to money mastery. In this episode she talks about her experiences with debt, how to save money and what she did after losing everything in the 2008 financial crash.
(qlmbusinessnews.com via cityam.com – – Tue, 23rd April 2019) London, Uk – –
Natwest will double its growth funding programme for small and medium-sized British businesses, citing the need to help them navigate Brexit disruption.
The UK bank’s growth funding loan pot, which was started in May 2018, will be immediately doubled to £6bn in the latest sign that companies are demanding resources to cope with political impasse and that banks and investors can cash in by helping them.
The money will be available immediately and will help businesses looking to grow, fund green initiatives and navigate the current uncertain business climate, Natwest said.
Last week the government announced it had handed over £200m to help support smaller businesses in the 2019-20 financial year as the future of European Union funding remains uncertain.
The Treasury made the cash available to the British Business Bank, a public-private partnership which provides loans to small companies looking to increase in size through investment and venture capital firms.
The national chairman of the Federation of Small Businesses (FSB), Mike Cherry, said at the time: “With Brexit on the horizon, serious questions regarding future funding for a UK small business support network that’s heavily reliant on the EU remain unanswered.”
Natwest figures released today showed that £2.9bn of its already-expanded £3bn growth funding pot had been approved for investment.
The bank said it would increasingly focus on financing eco-friendly projects and intellectual property.
Alison Rose, chief executive of commercial and private banking at Natwest, said: “We are working every day to look at what businesses need to not just survive, but grow. In many cases this is bespoke funding.”
Referencing Brexit, she said: “We recognise that the challenges businesses face evolve all the time, which is why we try to innovate whenever we can.”
Amazon CEO Jeff Bezos was one of the first entrepreneurs to realize the potential of selling products on the internet. This Bloomberg Profile looks into how Bezos built Amazon inside his garage and now has his sights set well beyond online commerce.