Conglomerate company – Sony CP http://sony-cp.com/ Tue, 05 Jul 2022 20:11:40 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://sony-cp.com/wp-content/uploads/2021/06/icon-2021-06-29T124317.391-150x150.png Conglomerate company – Sony CP http://sony-cp.com/ 32 32 We love a good sizzle of sausage, but is Bunnings owner Wesfarmers a good investment? https://sony-cp.com/we-love-a-good-sizzle-of-sausage-but-is-bunnings-owner-wesfarmers-a-good-investment/ Tue, 05 Jul 2022 20:05:00 +0000 https://sony-cp.com/we-love-a-good-sizzle-of-sausage-but-is-bunnings-owner-wesfarmers-a-good-investment/ How are you: Wesfarmers is a $49 billion company and Australia’s largest private employer, with over 110,000 employees and operations across the country. Its shares took a hit in the latest market crash, plunging nearly 30% to around $43 in the past six months. However, the company has always been very successful due to the […]]]>

How are you: Wesfarmers is a $49 billion company and Australia’s largest private employer, with over 110,000 employees and operations across the country. Its shares took a hit in the latest market crash, plunging nearly 30% to around $43 in the past six months. However, the company has always been very successful due to the diversity of its activities.

Industry: Retail, healthcare, chemicals, industry, data.

Bunnings is a key income for the Wesfarmers conglomerate.

Main products: Consumer goods, pharmaceuticals, natural gas, ammonia, work clothes.

Key figures: Managing Director Rob Scott, President Michael Chaney.

The bull case: Much of the company’s bull case stems from its scale and diversification, with investors confident that the company has varied its operations enough to perform well in most economic circumstances.

“What you would hope for in any recovering economy is that there would be more spending in places like Bunnings as people do more home renovations,” said Jamie Hannah, deputy chief investment officer at Wesfarmers, the investor Van Eck.

[Wesfarmers is] Overweight Australia and Overweight Bunnings.

Van Eck Deputy Director of Investments Jamie Hannah.

“And on the other hand, if the economy slows down, that benefits Kmart, because it’s more discount stores, which are likely to see more spending.” Analysts agree with that assessment, with UBS’s Shaun Cousins ​​saying in early June that Bunnings and Kmart were well positioned in an inflationary environment.

Many of Wesfarmers’ retail divisions are also category killers, with Officeworks having little market competition and Bunnings retaining a 50% market share of home improvement space.

Investors also see significant upside in Wesfarmers’ chemical and industrial businesses, which benefit from rising commodity prices. The company’s new Mt Holland lithium project is also underway and expected to be operational by 2024, giving the conglomerate an additional boost due to high demand for the battery manufacturing element.

The bear case: One of the main disadvantages of Wesfarmers is its lack of diversification from a profit and revenue perspective.

Wesfarmers boss Rob Scott at Sydney's Fullerton Hotel during the company's strategy day.

Wesfarmers boss Rob Scott at Sydney’s Fullerton Hotel during the company’s strategy day.Credit:Brook Mitchell

In its half-year results in February, Bunnings posted a profit of $1.26 billion, or 70% of Wesfarmers’ total for the half. Similarly, the hardware chain’s revenue was $9.2 billion, more than half of Wesfarmers’ $17.7 billion in revenue for the period.

For Hannah, overexposure to Bunnings is a concern, as well as Wesfarmers’ reliance on the Australian market.

“Geographically, Wesfarmers generates 95% of its revenue in Australia,” he said. “On that side of things for diversification, they’re overweight Australia and overweight Bunnings.”

Analysts have also questioned the company’s moves into the digital space, with Wesfarmers’ new data and e-commerce division OneDigital expected to post losses of $180 million in fiscal years 2022 and 2023.

Barrenjoey analyst Tom Kierath recently told clients he was “struggling to understand the benefits” of Wesfarmers’ new $40 per year subscription service for OneDigital.

And, as is the case with many retailers, rising interest rates and inflation could dampen consumer spending, potentially reducing earnings from other major earners at Bunnings and Wesfarmers.

The long and the short take place every Wednesday

  • The advice given in this article is of a general nature and is not intended to influence readers’ decisions regarding investments or financial products. Before making financial decisions, they should always seek their own professional advice that takes into account their personal circumstances.
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Amanda Ghost, musical director: she’s the boss – but don’t call her “bossy” https://sony-cp.com/amanda-ghost-musical-director-shes-the-boss-but-dont-call-her-bossy/ Mon, 04 Jul 2022 04:00:29 +0000 https://sony-cp.com/amanda-ghost-musical-director-shes-the-boss-but-dont-call-her-bossy/ Amanda Ghost knows both sides of the schism between talent and costumes in the music industry. She was an entertainer, releasing a trending album in 2000, but after failing to sell the costumes, she refused to release her follow-up. She branched out into writing songs for others, co-writing James Blunt’s “You’re Beautiful,” one of the […]]]>

Amanda Ghost knows both sides of the schism between talent and costumes in the music industry. She was an entertainer, releasing a trending album in 2000, but after failing to sell the costumes, she refused to release her follow-up. She branched out into writing songs for others, co-writing James Blunt’s “You’re Beautiful,” one of the best-selling records of the 2000s. Beyoncé’s duet with Shakira, “Beautiful Liar” , was another of his charts. She also co-wrote Shakira’s single “Gypsy”.

In 2009, the Londoner was picked as the left-wing pick to run Epic Records in Los Angeles, a division of Sony Music. Her time as president was a difficult experience, lasting less than two years. American record officials reacted badly to Limey’s talent being catapulted among them. She left in 2010 amid gossip accusations of unprofessional behavior, a corporate downfall almost as sudden as her rise.

“I’ve seen it all, done it all, got the T-shirt,” Ghost says of his picaresque life of hits and misses in the music industry. Her real last name was Gosein and is now Cameron: she kept her stage name Ghost after retiring from performing. She sits on a sofa in the top floor office of a converted townhouse in Marylebone, central London. A photo of her with Fleetwood Mac’s Stevie Nicks is among the photos on a fireplace. During her time as a singer-songwriter, Ghost’s raspy singing style earned her comparisons to Nicks.

Amanda Ghost as a singer and songwriter in 2006 © Getty Images

The office is the headquarters of her production company Unigram, which she started in 2010 with her television producer husband, Gregor Cameron. Their business partner is one of the most powerful figures in the music industry: Leonard Blavatnik, the Ukrainian-born billionaire who owns most of Warner Music Group.

Unigram operates in different branches of the entertainment industry. Her ethos is the opposite of the silo mentality Ghost says she encountered when she ran Epic Records in Los Angeles, where the various suits of film, TV, and music couldn’t talk to each other.

“You really aren’t allowed out of your box at these companies,” the 47-year-old says. “But I’ve always wanted to do more than just music. I believed we were going to enter a world where you weren’t in music or film or TV anymore, you were just in content. There’s a real void in the market for someone who can help bring these different formats together.

This was the flyer she presented to Blavatnik in order to enlist his support. Their meeting came after Ghost stayed at a luxury hotel he co-owns in Buenos Aires in 2011, which she visited at Shakira’s request while on tour for the Colombian star. Ghost explained to Blavatnik that she wanted to run a company that worked across different media, with music at its heart. “Go ahead, do it,” he told her.

Two women stand close to each other, smiling at the camera
Ghost with Shakira in New York in 2009 © Getty Images

“She impressed me as someone who has valuable business experience, creativity and a vision for the future of music and entertainment,” Blavatnik said via email. His Access Industries conglomerate provides the capital for Unigram’s productions, though Ghost insists he’s not just a money man.

“Len is truly a creative partner in the business. Maybe because he’s not in the weeds so much, he can really give an overview of what we’re doing. Because we have the luxury of working with someone who funds and is heavily involved in the creation, we just make something we think is brilliant. We don’t think, ‘How are we going to wrap them on Broadway on a Friday night?’

Their first major production was a 2015 film adaptation of John Niven’s novel kill your friends, a satire on the British music industry set during the Britpop boom of the 1990s that failed to ignite the box office. Unigram is named as a joke after the film’s fictional label, a cocaine-stuffed viper’s nest of back-slashers and cut-throats.

A scene from a movie shows a tall man standing in an audience at an event, watching intently
Nicholas Hoult in ‘Kill Your Friends’, the 2015 film produced by Ghost Company Unigram © Moviestore/Shutterstock

Current projects include Tetris, a feature film about Soviet creation of the 1980s video game that will be released on Apple TV this year. They are also producing a musical theatrical adaptation of Gatsby the magnificent is set to open in New York in 2024, co-composed by Florence Welch of Florence + the Machine.

Ghost originally floated the idea of gatsby to a reluctant Welch. “No, I don’t want to write musicals: I don’t like musicals,” was the answer. But Ghost persisted. “I don’t know anyone, Flo, who can tell a story with beautiful poetry like you can with lyrics,” she recalled telling the singer. A few months later, Welch called out of the blue to say she had written three songs for it.

“The unique thing about Unigram is my relationship with the musical artists I’ve worked with,” Ghost says. She prides herself on being a designer, not a suitor – although she found the music industry fascinating when she was a performer herself. “I was probably the only artist who read my recording contract,” she says.

She grew up in a working-class neighborhood in the outer Enfield district of London. His mother came to London from Gibraltar, while his father had moved from Trinidad. A driving instructor who also worked in construction, owned stores and founded a textile company, he instilled in Ghost and his two older sisters an entrepreneurial drive to succeed.

“My father always told me, you have to work twice as hard. Once because you are a woman, twice because you are brunette,” she said. A background of racism ruined his education. A neighbor posted National White Power Front posters, dog droppings were pushed through the mailbox, people spat at her on buses and told her to “go home”. She experienced “terrible institutionalized racism” at an almost all-white school.

A woman is sitting on the stairs looking at the camera
Amanda Ghost, photographed for the FT by Harry Mitchell

“Only people who look like me and grew up where I grew up will understand that,” she says. “For me, the idea of ​​success has always been to get away from where I came from, to have enough money that I didn’t have to worry about food or where I had to live.”

His successful second act as a hitmaker for Blunt, Beyoncé, and Shakira led to the presidency of Epic Records. The label’s market share grew under his leadership, but his surprise appointment caused controversy. After her 2010 release, a hostile profile in The Hollywood Reporter portrayed her as a marijuana-smoking livewire with “a penchant for profanity and a reputation for unpredictable, sometimes violent outbursts” — all of which Ghost flatly denies.

“I’m so sick of seeing women being labeled aggressive, bossy, dominating and abrasive, and men who have the same qualities being promoted to CEOs of music divisions around the world. I’ve had enough and I want that to change” , she says.

She recently heard of a male record executive complaining, “I can’t stand Amanda Ghost, she’s so aggressive.” “And I’m like, yeah, but if I was a man, you’d give me a raise. Being aggressive is about standing up for yourself and not lying on the floor and letting someone punch you in the face. Especially if you are a brunette woman.

The artist-turned-executive is held back by these schisms, which are even deeper than that between talent and costumes. “Success for me is being able to be artistically pure in my endeavors,” she says. “As long as I keep doing this, I will never fail.”

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French prosecutors open investigation into war crimes linked to Groupe Castel unit in Central African Republic https://sony-cp.com/french-prosecutors-open-investigation-into-war-crimes-linked-to-groupe-castel-unit-in-central-african-republic/ Sat, 02 Jul 2022 10:58:00 +0000 https://sony-cp.com/french-prosecutors-open-investigation-into-war-crimes-linked-to-groupe-castel-unit-in-central-african-republic/ PARIS, July 1 (Reuters) – France’s anti-terrorism prosecution has opened an investigation into allegations of potential complicity in war crimes against Groupe Castel in the Central African Republic (CAR), a source familiar with the matter told Reuters on Friday. A local unit of the French drinks conglomerate is suspected of making payments to the local […]]]>

PARIS, July 1 (Reuters) – France’s anti-terrorism prosecution has opened an investigation into allegations of potential complicity in war crimes against Groupe Castel in the Central African Republic (CAR), a source familiar with the matter told Reuters on Friday.

A local unit of the French drinks conglomerate is suspected of making payments to the local militia, the source said.

A Groupe Castel spokesperson said the company was cooperating fully with French authorities on the matter and that an internal investigation into the initial charges showed no evidence of wrongdoing.

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The investigation follows a report by The Sentry last year which indicated that the group’s subsidiaries had entered into agreements to provide the UPC armed militia with cash and vehicle support to secure a position in the regional market. .

The United Nations says the UPC has killed, tortured, raped and displaced civilians, and engaged in arms trafficking, illegal taxation and warfare.

The source specifies that the investigation which opened in Paris did not formally target either the group or the leaders, but had been opened “against X”, which allows the prosecutors to investigate in all directions.

Groupe Castel, headquartered in the Bordeaux region, is one of the largest wine and beverage conglomerates in the world, selling some of Africa’s most popular beers. French business magazine Challenges puts the Castel family’s fortune at around 14 billion euros ($15 billion).

CORPORATE CRIME

French authorities, backed by human rights groups, are stepping up action against corporate misdeeds linked to conflicts abroad.

In May, a Paris appeals court rejected a request by French cement maker Lafarge to dismiss charges of complicity in crimes against humanity and endangering lives for keeping a factory running in Syria after the outbreak of conflict in 2011. read more

The case is seen as a landmark decision to hold Western companies accountable for acts committed while operating overseas.

With the launch of the investigation linked to Castel, The Sentry lawyers Clémence Witt and Anaïs Sarron told Reuters that the prosecution would now be able to hear witnesses and order searches and seizures.

“The prosecution will now launch its investigations in order to establish the truth,” they said.

“War profiteers have fueled devastating, long-term armed conflicts around the world, too often without legal and financial consequences for perpetrators,” said John Prendergast, who co-founded The Sentry alongside actor George Clooney.

Prendergast said the ruling should show multinational companies that they can be held responsible for criminal operations, even in countries with weak legal systems.

($1 = 0.9587 euros)

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Reporting by Sarah Morland, editing by Tassilo Hummel, Gareth Jones and Angus MacSwan

Our standards: The Thomson Reuters Trust Principles.

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Arming signals push for deals and more staff with IPO proceeds https://sony-cp.com/arming-signals-push-for-deals-and-more-staff-with-ipo-proceeds/ Tue, 28 Jun 2022 04:00:25 +0000 https://sony-cp.com/arming-signals-push-for-deals-and-more-staff-with-ipo-proceeds/ Arm wants to use proceeds from its upcoming initial public offering to consider making deals and hiring more staff, setting out an ambitious expansion plan for the British chip designer. Chief executive Rene Haas told the Financial Times that the company will seek to intensify its push beyond mobile phones and deeper into the cars, […]]]>

Arm wants to use proceeds from its upcoming initial public offering to consider making deals and hiring more staff, setting out an ambitious expansion plan for the British chip designer.

Chief executive Rene Haas told the Financial Times that the company will seek to intensify its push beyond mobile phones and deeper into the cars, data centers and hardware that underpin the metaverse. The cash generated from an IPO “can help you with mergers and acquisitions or you can hire faster – we’ll be looking at both of those areas,” he said.

The expansive vision comes after a period of retrenchment within the group, distracted by a battle for control of its lucrative Chinese unit, job cuts and the collapse of its $66 billion sale to US rival Nvidia.

But ambitions for further growth could still be met as a slowdown in tech stocks threatens hopes of blockbuster returns from the float offered by Japanese Arm owner SoftBank, which is targeting a $50 billion valuation.

Those headwinds won’t deter Arm from pursuing its IPO, said Haas, who added that Arm executives are “pretty confident” that the company can “stand on its own two legs.” He said, “The time is right for us.”

SoftBank is now closing in on pursuing a dual listing of Arm in New York and London after months of intense lobbying by the UK government which panicked at the prospect of being dropped by one of its latest technological achievements.

But the move still faces resistance from many SoftBank executives who feel the move makes little business sense because the U.S. market is by far the most liquid and is where most of the potential investors. Haas declined to be drawn on the location of Arm’s listing, saying SoftBank needed to answer those questions.

Some analysts have also questioned whether the IPO will raise enough capital for Arm to continue its research and development efforts.

“When SoftBank first acquired Arm, the price was too high and SoftBank obviously wants its money back. How much will this IPO leave for Arm – anyone can guess,” said Richard Wawrzyniak , analyst at Semico Research.

After several years of stagnant revenue growth under SoftBank ownership, Arm signaled a sharp turnaround last year. The chip designer posted a 35% increase in revenue to $2.7 billion and a 68% increase in adjusted earnings to $1 billion.

Haas attributed the performance to years of focused investment in growth areas including data centers, networking equipment and automotive.

“People were like ‘where are they from? You have to do CEO math and massage the numbers,’ Haas said of the company’s annual results. we’re on…and the SoftBank years helped us invest in that.

Arm’s workforce has fluctuated over the past six years since SoftBank bought the British chip designer for £24.3 billion in 2016. Staff initially nearly doubled from 4,400 to 7,300 in 2021, but Arm is cutting up to 15% of jobs after SoftBank. revealed plans to list the company earlier this year.

Haas said one of the biggest obstacles to pursuing an IPO next year — a two-year standoff with the chief executive of the company’s China joint venture — has now been resolved.

Arm China has successfully transitioned to its new leadership and the plan that ended the stalemate – to transfer Arm’s shares in the Chinese joint venture to a SoftBank vehicle – is complete.

As the value of public listings plummets in Europe and the United States last month, SoftBank founder and chief executive Masayoshi Son said he plans to retain a majority stake in Arm in the upcoming IPO. stock Exchange.

Haas said SoftBank had not invested any of its own capital in the chip designer for the past six years, but rather the Japanese conglomerate had “tolerated us to operate at a certain level of profit that allowed us to invest “.

“Masa is definitely a long-playing guy,” Haas said. “If you’re talking about what’s going on inside the current quarter, he’s not really interested.”

“In the SoftBank world, they’re able to tolerate an investment phase with a growth phase in later years,” he said, adding that Arm can open up to public markets because “the revenue growth will be able to support the investments we need while achieving profitability objectives”.

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How We Got Addicted To Using Q-tips The Wrong Way https://sony-cp.com/how-we-got-addicted-to-using-q-tips-the-wrong-way/ Sat, 25 Jun 2022 20:44:03 +0000 https://sony-cp.com/how-we-got-addicted-to-using-q-tips-the-wrong-way/ Each box of Q-tips has a warning label: “Do not insert the swab into the ear canal”, and if you are going to use it to clean your ears, gently dab the outer part only. Each box of Q-tips has a warning label: “Do not insert the swab into the ear canal”, and if you […]]]>

Each box of Q-tips has a warning label: “Do not insert the swab into the ear canal”, and if you are going to use it to clean your ears, gently dab the outer part only.

Each box of Q-tips has a warning label: “Do not insert the swab into the ear canal”, and if you are going to use it to clean your ears, gently wipe the outer part only.

But extract the wax from our ear canals This is precisely why most of us buy Q-tips in the first place. The humble Q-tip was so perfectly designed for this purpose that it became a generic word for a product.

Yet somehow we use it to the very thing it specifically warns us not to.

‘Q-Tips Baby Gays’

The origins of this strange consumer phenomenon can be traced back to Leo Gerstenzang, a Polish immigrant.

In 1923, Gerstenzang supposedly thought he could improve on his wife Ziuta’s method of wrapping a cotton ball around a toothpick to clean their new daughter’s eyes, ears, navel and other sensitive areas. -born Betty while bathing.

Gerstenzang set up a company that year to develop and manufacture the first ready-to-use product sterilized cotton swabs for baby care. Over the next two years, he worked on designing a machine capable of producing swabs “untouched by human hands”.

‘Baby Betty Gays’ was Swabs’ original working name because daughter Betty laughed when her parents tickled her with them, according to her 2017 salary obituary. By the time Gerstenzang published one of the first newspaper advertisements for his invention in 1925, he was shortcut to “Baby Gays”.

Soon, Gerstenzang changed the brand name to “Q-Tips Baby Gays”. In the mid-1930s, “Baby Gays” was dropped from the name.

There are competing stories behind the addition of “Q-tips”. According to a spokesperson for Unilever, the consumer goods conglomerate that purchased cotton swabs in 1987, the “Q” stands for “quality” and “advice” describes the swab at the end of the stick (the first cotton swabs -rods were single-sided sold in slide-out metal boxes).

But, according to Betty’s obituary, “Q-tips” was a game of “Cutie-Tips” because she was so cute as a baby.

‘Adult Ear Care’

Q-tips never told us to stick the swabs in our ear canal to remove earwax. But, from its beginnings in the 1920s, it made ear care a key focus of its marketing strategy. It has formed generations of Americans to associate it with cleaning up there.

Mid-century advertisements often featured illustrations of men and women cleaning their ears or their babies’ ears with them, including one depicting a man remove water of his ears after swimming.

Older versions of the boxes referred to “adult hearing care” as main use for the product.

Even Betty White later appeared in TV spots for Q-tips in the 1970s and 1980s, promoting them as the “safest and gentlest swabs » on the market for your eyes, nose and ears.

Q-tips are almost addictive to use for wax removal and it becomes a vicious cycle when we do, said Douglas Backous, a neurotologist who specializes in treating ear and skull conditions. Removing earwax creates dry skin, which we then want to scrape off with – of course – a cotton swab.

Sticking cotton swabs in your ears can also damage the ear canal. Most people don’t need to remove earwax either, because the ears are self-cleaning. Inserting a swab can trap earwax deeper inside, he said, and “you’re actually working against yourself by using it.”

It wasn’t until the 1970s, under former owner Chesebrough-Pond, that Q-tips added a warning about not sticking the thing in your ear. It is unclear what prompted this change.

“The company has no details as to why they did this, and our search of records reveals no publicly available cases of anyone with a brain swab,” the Washington Post said. reported in 1990. “Something must have happened, and Chesebrough-Pond didn’t want to be blamed.”

But by the time Q-tips added that warning label, it was too late. Consumer habits had become inescapable, and cotton swabs controlled about 75% of the cotton swab market.

“It was just accepted that that was how people used it,” said Aaron Calloway, Q-tips brand manager at Unilever in 2007 and 2008.

“Beauty Assistant”

So what should you use Q-tips for? The company has several suggestions. For decades, he tried to emphasize the versatility of cotton swabs.

During the 1940s, cotton swabs established themselves as an essential tool for women’s cosmetic and beauty routines.

“Mom, do you know that you can use cotton swabs for a lot of things?… You can also use them yourself when you use cream or makeup, mom too! read a 1941 print advertisement.

Another print ad, a decade later, described Q-tips as a “beauty assistant” for women.

In the 1950s and 1960s, Q-tips began to tell consumers that they weren’t just for babies or women – they were handy for just about any project around the house or in their life.

“To lubricate electric saws and drills…guns and fishing reels…fix a teacup and clean jewelry…Antique furniture,” reads a 1971 advertisement.

Today, there are no ears in Q-tips advertising. A brand spokesperson claims that 80% of consumers use Q-tips for purposes other than personal care.

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Masayoshi Son’s Eternal Optimism https://sony-cp.com/masayoshi-sons-eternal-optimism/ Fri, 24 Jun 2022 12:00:23 +0000 https://sony-cp.com/masayoshi-sons-eternal-optimism/ Placeholder while loading article actions There’s a $60 billion reason why SoftBank Group Corp. founder Masayoshi Son might be feeling a little depressed. His company has lost more market value in the past year than in any 12-month period over the past two decades, while his portfolio of private and public companies faces continued turbulence. […]]]>
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There’s a $60 billion reason why SoftBank Group Corp. founder Masayoshi Son might be feeling a little depressed. His company has lost more market value in the past year than in any 12-month period over the past two decades, while his portfolio of private and public companies faces continued turbulence. And yet, Son remains resolutely optimistic.

” I have no doubt. Whatever changes happen, I have never doubted,” Son told shareholders Friday of his belief in the information revolution that is the underlying thesis of his investment strategy.

From falling stock prices to failed merger deals, the 64-year-old has found an edge in nearly every problem his conglomerate has faced in the past year. And he needs it. Its handful of investment vehicles, led by the SoftBank Vision Fund, has stakes in more than 470 companies. Few of them have hit a home run, but they will. Maybe.

Son’s acolytes believe the Japanese billionaire’s undying faith in the information revolution – a global economic shift that puts data at the heart of commerce – will eventually pay off. Investing in various businesses, he bets that a rising tide will lift all boats. But the challenge will be for the company to stay afloat long enough for the tide to turn in its favor.

With almost $300 billion in debt and a weakening yen, Son needs to stabilize for a few years until he can realize the gains he is so confident will eventually come.

A major setback in servicing that debt was SoftBank’s failed $40 billion sale of chip company Arm Ltd. to Nvidia Corp. Regulators around the world feared it was too powerful a company and rejected the merger. Yet Son even put a positive spin on the failure, saying it was a good thing he could hold on to British society for longer.

While demand for the IPO in the current market environment remains to be seen, Son said he has received “love calls” from several exchanges seeking to host the public offering, with the company anticipating apparently to register a partial stake in London. Already bullish on Arm, Son explained his prediction that the chip designer could be worth something similar to the “GAFA” quartet of Google, Amazon, Facebook and Apple – or an order of magnitude higher than the value of selling to Nvidia. .

While that might be typical Son exaggeration, there’s reason to suspect he’ll pull it off. On the one hand, for its lenders, SoftBank itself is too big to fail – a classic example of the adage that if you owe the bank $100, that’s your problem, but if you owe $300 billion dollars in the bank, that’s the bank’s problem. Money is still essentially free in Japan, where there are no signs that the central bank is joining the rest of the world in raising rates – a scenario in which SoftBank would be the least of the country’s problems. And for now, banks will still be lining up to allow SoftBank to roll over its bonds, long before it has to sell off its top assets. Even then, Son predicted that no more than three companies in his extensive portfolio would ever be successful on the scale of his winning punt on Alibaba Group Holding Ltd.

During parts of the shareholder meeting, it was easy to see where Son got his (over)confidence. Some of the investors asking questions sounded more like cheerleaders, with one urging Son to be the ‘light of hope for all mankind’ by staying at the helm of the company until until he reaches the age of 100. Hopefully Son hears more critical voices in the conference room. At least Ken Miyauchi, a longtime lieutenant and chairman of SoftBank’s mobile unit, admitted on Friday that he had periods when he was “full of doubts” about the company’s stock price.

For wary investors, Son has a message: if you can’t stand the thrill, you’re free to drop in.

“Looking at the stock price from a 10- or 20-year perspective, it’s constantly going up, but in the short term it’s going up and down,” Son said. “If you can’t take it, then it’s better for you if you don’t – for the sake of your health.”

It would be hard to recommend the faint of heart to invest in SoftBank. But as a typically explosive SoftBank video promised, “desperation can turn into hope.” The message was not intended for restless investors, but perhaps they can take comfort nonetheless. Even if no one else does, Son still believes. More from these writers and others on Bloomberg Opinion:

• SoftBank’s Son Has Survived Bigger Disasters: Gearoid Reidy

• SoftBank needs to stop buying and start selling: Tim Culpan

• SoftBank’s arm is the highest rated in London: Chris Hughes

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Tim Culpan is a Bloomberg Opinion columnist covering technology in Asia. Previously, he was a technology reporter for Bloomberg News.

Gearoid Reidy is a Bloomberg News editor covering Japan. He previously led the breaking news team in North Asia and was the deputy chief of the Tokyo bureau.

More stories like this are available at bloomberg.com/opinion

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This Cheap Warren Buffett Stock Should Be Your Top Pick Right Now https://sony-cp.com/this-cheap-warren-buffett-stock-should-be-your-top-pick-right-now/ Wed, 22 Jun 2022 10:22:00 +0000 https://sony-cp.com/this-cheap-warren-buffett-stock-should-be-your-top-pick-right-now/ Berkshire Hathaway (BRK.A 1.15%)(BRK.B 1.38%) holds dozens of equity positions in its closely watched $300 billion portfolio. And there are plenty trading for deep discounts from where they were just a month or two ago. Some look like great bargains right now and should be just fine even if inflation and rising rates last longer […]]]>

Berkshire Hathaway (BRK.A 1.15%)(BRK.B 1.38%) holds dozens of equity positions in its closely watched $300 billion portfolio. And there are plenty trading for deep discounts from where they were just a month or two ago. Some look like great bargains right now and should be just fine even if inflation and rising rates last longer than expected.

However, the best “Buffett stock” to buy right now might not be one of the stocks in Berkshire’s portfolio. I would say the best Buffett stock to own in uncertain times like these is none other than Berkshire Hathaway itself.

Berkshire businesses are built for times like these

Berkshire Hathaway has more than 60 individual subsidiaries, many of which are well known to consumers in the United States and around the world. To name just a few of the most interesting examples for consumers, if you have GEICO car insurance, if you have eaten at a Dairy Queen restaurant, or if you have Duracell batteries in one of your electronic devices, you are a Berkshire Hathaway customer.

The key point to know is that most Berkshire businesses are fairly immune to recessions and inflationary pressures. Consider GEICO, one of the largest companies in the conglomerate. People need auto insurance no matter what the economy does. The same can be said for Berkshire’s huge utility company. And its subsidiary BNSF Railroad, which is another of the company’s main sources of revenue, provides shipping services that are essential in all economic climates.

A diversified and well-protected equity portfolio all in one

As mentioned earlier, Berkshire also has an equity portfolio with a current market value of around $308 billion. There are over 40 stocks in the portfolio, including significant holdings in Apple (AAPL 3.28%), Bank of America (BAC 2.91%), Chevron (CLC 4.18%)and Coca Cola (KO 2.14%).

To be fair, many stocks in Berkshire’s portfolio declined significantly during the market downturn, which was a major contributor to Berkshire’s decline. Apple is nearly 30% below its 52-week high, and it’s one of the better performers. But the common denominator of most stocks in the portfolio (especially the larger positions) is that they are financially strong and resilient companies, well equipped to weather tough times.

Tons of dry powder at his disposal

Last, but not least, Berkshire Hathaway has tremendous financial flexibility. Even after deploying more than $50 billion to the stock market in the first quarter of 2022, the conglomerate still had $106 billion of cash on its balance sheet at the end of March. Buffett still likes to keep at least $30 billion in reserves, which still gives Berkshire $76 billion to work with. Additionally, Berkshire’s operating activities generate billions in cash flow every quarter that can be redeployed.

This places Berkshire in a excellent position to take advantage of market downturns. With many stocks trading for deep discounts to their highs, Buffett and his team can choose to take advantage of big companies at attractive valuations. And if management isn’t impressed with particular stocks, it may choose to buy back Berkshire shares, which are trading more than 25% below their highs.

I’ve said before that Berkshire’s huge cash reserve could make it the biggest winner in any market crash or correction, and I’d be shocked if Buffett and his team didn’t invest billions of dollars in the bear market. current.

In a nutshell, Berkshire is a great long-term buy no matter what’s going on with the economy – and buying shares of the time-tested conglomerate when it fell 25% from recent highs has always been a very smart move.

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BPM Hinduja Global Solutions plans to launch a new delivery center in Mysuru, Karnataka https://sony-cp.com/bpm-hinduja-global-solutions-plans-to-launch-a-new-delivery-center-in-mysuru-karnataka/ Mon, 20 Jun 2022 07:30:06 +0000 https://sony-cp.com/bpm-hinduja-global-solutions-plans-to-launch-a-new-delivery-center-in-mysuru-karnataka/ Bengaluru-based business process management company, Hinduja Global Solutions (HGS), today announced plans to open a new delivery center in Mysuru, Karnataka. The company plans to hire up to 400 people in the region by October 2022 to scale up operations in the new facility. This development comes as HGS continues to expand its business and […]]]>

Bengaluru-based business process management company, Hinduja Global Solutions (HGS), today announced plans to open a new delivery center in Mysuru, Karnataka.

The company plans to hire up to 400 people in the region by October 2022 to scale up operations in the new facility. This development comes as HGS continues to expand its business and reach, in order to enter new markets, as the company indicates in its press release.

The facility, which is located in a prime commercial location on the city’s Outer Ring Road, can accommodate up to 1,000 employees in two shifts, the company said. Initially, the Mysuru center will provide international non-voice operations and back-office services to one US customer, with the possibility of adding other customers later. In its latest announcement, the company also said it would be looking for graduates with good English skills to work at the institution.

“HGS is experiencing significant growth, driven by continued customer confidence and growing business opportunities. Mysuru has already played a key role in the success of HGS when we supported the domestic market and we hope this new center will help us to aggressively expand our global delivery capabilities from India,” said Pushkar Misra, President and CEO-APAC, HGS, while commenting on the development.

“The Mysuru region is full of fantastic talent and we have always found candidates aligned with our needs. In fact, the local talent is the main reason we keep coming back to Mysuru. I’m very excited about our second round in Mysuru,” he added.

HGS, part of the Hinduja Group conglomerate, currently operates in seven countries and employs more than 21,600 people across 38 delivery facilities. In India alone, the company employs over 8,600 people in eight delivery centers located in Bengaluru, Mumbai, Hyderabad and Vizag.

Also read: “The skills acquired by Agniveers make them eminently employable”: Anand Mahindra

Also Read: Here’s Why Vedanta Share Price Dropped 12% Today

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The Best Dividend Stocks for a Lifetime of Passive Income https://sony-cp.com/the-best-dividend-stocks-for-a-lifetime-of-passive-income/ Sat, 18 Jun 2022 15:23:00 +0000 https://sony-cp.com/the-best-dividend-stocks-for-a-lifetime-of-passive-income/ Some say that death and taxes are the only guarantees in life, but what if there was a third? It could be Procter & Gamble (PG -0.72%) pay a dividend. The consumer staples giant has paid one every year since it was founded in 1890, increasing it every year for 66 years. You probably want […]]]>

Some say that death and taxes are the only guarantees in life, but what if there was a third? It could be Procter & Gamble (PG -0.72%) pay a dividend. The consumer staples giant has paid one every year since it was founded in 1890, increasing it every year for 66 years.

You probably want to know if the future is as bright as the past, and you’re in luck. Here are three reasons why Procter & Gamble could pay you for the rest of your life.

1. A treasure chest of resilient brands

Procter & Gamble is a household products conglomerate, which means that the company owns different brands, but they operate and sell under their own identity.

For example, it owns the laundry detergent brand Tide. But you will only see Tide displayed when you see an ad or go to the store and buy it. A small note on the label is the only clue that Procter & Gamble owns the brand.

The company’s dozens of brands include thousands of products. It includes 10 product categories, including over-the-counter medications, cleaning products, hair care, dental products, personal hygiene items, and more. It sells products worldwide, totaling more than $76 billion in annual sales.

PG Revenue (TTM). Data by Y charts. TTM = last 12 months.

Above you can see just how smooth Procter & Gamble’s growth has been over the decades. It has weathered occasional recessions and constant competition from generic brands selling at lower prices. All of this speaks to the brand power of the company.

Having so many brands also gives Procter & Gamble the flexibility to reinvent itself, like in the 2010s, which is why you see a decline in revenue. It sold certain product lines, such as Duracell batteries, to Berkshire Hathaway in 2016 for $2.9 billion in stock. Procter & Gamble can develop brands and then sell them whenever it wants, often raising significant capital.

2. The dividend is the gospel

Few companies can increase their dividend every year for decades; for those who do, the dividend becomes part of their identity. Ask any shareholder why they own shares of a Dividend Aristocrat or a Dividend King (companies with 25 and 50 year dividend growth streaks), and the dividend will likely grow fairly quickly.

Procter & Gamble’s 66-year streak makes it a dividend king and one of the oldest active dividend growth stocks – something management appreciates. Of course, past results are no guarantee of future results, but rather it shows Procter & Gamble’s commitment to the dividend, so investors can be confident that paying is a priority.

Currently, the stock offers a dividend yield of 2.74%.

3. An almost impenetrable track record

Companies do not pay dividends in hope but in cash, so they must be able to pay the cash expenses of paying a dividend and growing those expenses each year. Procter & Gamble has a three-part backstop that virtually guarantees its ability to pay the dividend.

First, it can afford the dividend organically just by using the free cash flow the business generates each year. You can see how much money the bill covers below; the dividend distribution rate is currently only 62%.

PG Free Cash Flow Statement

PG Free Cash Flow. Data by Y charts.

Suppose, hypothetically, the business collapses and cash profits fall. In this case, Procter & Gamble could dip into its balance sheet to cover its short-term dividend. It currently has $8.5 billion in cash on its balance sheet, or about a year of dividends.

The company also has a conservative debt ratio of just 1.5 debt to EBITDA (earnings before interest, tax, depreciation and amortization). In other words, he could easily borrow money if needed.

And if all else fails, Procter & Gamble owns dozens of brands and could eventually sell one or more, which could fetch billions.

The company can easily fund the dividend with existing earnings, so all of that will likely remain in the “what if” part of this discussion.

Takeaway for investors

Procter & Gamble delivers on all aspects of what you’re looking for in a dividend stock. The company’s earnings have proven sustainable over the years, and its many products mean it doesn’t live or die by just one part of its business.

It is highly profitable and has built its corporate culture around sharing those profits with investors. Its dividend growth streak is among the longest on Wall Street.

Perhaps most importantly, Procter & Gamble is financially disciplined, with a strong balance sheet and the bonus of brands it can sell at any time to raise more cash.

Add it all together, and there is perhaps no stock better positioned to pay dividends for the foreseeable future than Procter & Gamble.

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Tartine Bakery’s tumultuous final years get ‘The New Yorker’ treatment https://sony-cp.com/tartine-bakerys-tumultuous-final-years-get-the-new-yorker-treatment/ Thu, 16 Jun 2022 22:22:56 +0000 https://sony-cp.com/tartine-bakerys-tumultuous-final-years-get-the-new-yorker-treatment/ Expansions in Los Angeles and South Korea, the launch of a coffee roasting business, the closure of three high profile restaurants, a union effort and the divorce of its founders are just part of what is covered in a new article in the new yorker about the Tartine Bakery. “In the Silicon Valley of the […]]]>

Expansions in Los Angeles and South Korea, the launch of a coffee roasting business, the closure of three high profile restaurants, a union effort and the divorce of its founders are just part of what is covered in a new article in the new yorker about the Tartine Bakery.

“In the Silicon Valley of the early 1920s, startups followed a new business rule: grow or die. But how big was it for an artisan bakery to grow?” ask for the subtitle this new New Yorker room by Anna Vienna. The article focuses on how the finances and fate of Tartine Bakery and the Tartine brand have been linked in recent years with a real estate private equity firm, CIM Group. And contrary to the narrative pushed by union workers about founders Chad Robertson and Elizabeth Preuitt being billionaires, the article describes how Tartine has struggled to survive over the past decade and how expansion into other cities has not. been made possible only through the cultural cachet that a Tartine location brings to a new development – that cachet being worth things like free rent.

The story of Tartine’s journey from 18th century artisan bakery and pastry and Guerrero to an internationally renowned brand is not straightforward, and it appears to have been particularly difficult for Robertson and Prueitt, who would have divorced in 2020 after more than two decades of cooking, running a business and writing books together.

The couple bought a new house in Castro in 2015, part of which shown to Eater in early 2016. But as The New Yorker reports, they had to sell the house shortly after that Eater piece went live, after the company’s widely reported deal to merge with Blue Bottle fell through. end of 2015. Tartine Manufactory opened in 2016, but that was also the year Bar Tartine closed – and Prueitt now says that Bar Tartine, for all its fame and delicious food, never achieved a profit.

Fast forward a few years and a splashy new toast factory, three times the size of SF, opened in downtown Los Angeles. abruptly closed after less than a year of activity, four months before the pandemic even started, in December 2019.

“We’re seen as something bigger than who we are,” Prueitt told The New Yorker. “There’s none there. It’s a water sandwich.”

Tartine partner Bill Chait said something similar when the effort to organize bakery and manufacturing workers began, saying Tartine was “not a conglomerate”, and despite expanding quick, he said the company still couldn’t afford $25/hour wages.

Many Tartine workers earned near SF’s minimum wage of $16/hour, and the perception that the company was rolling in dough while these workers scraped was a major source of union sentiment.

The Tartine factory, meanwhile, has still not resumed full service since the start of the pandemic – it has only been open as a daytime café, with no dinner available since the start of 2020. The bakery now has six locations at Seoul and five in Los Angeles, the newest being in the historically Black West Adams neighborhood. The New Yorker didn’t get a full answer on Tartine’s exact relationship to CIM, but it does note that CIM has an interest in all five bakeries in Los Angeles and one in San Francisco. And Prueitt would only say that Tartine, as a company, remains in debt and “struggles” not to sink further.

Yet the business remains ostensibly independent, after many other local food businesses have sold out to large multinational corporations. As the New Yorker noted, circa 2019, “many [Bay Area] small businesses seemed to be looking for an exit; a multitude of large local companies had sold to multinationals (La Boulange to Starbucks, Annie’s Homegrown to General Mills, Lagunitas to Heineken… Anchor Brewing in Sapporo, Blue Bottle to Nestlé, Cowgirl Creamery to Emmi).”

And people are still lining up for bread and pastries outside Tartine – a line that has essentially been a permanent fixture in 18th and Guerrero for most of the past 20 years – even after so many people have learned to make their own sourdough bread in the past two years.

When pastry and real estate collide [The New Yorker]

Previously: Tartine workers vote to unionize in close 93-90 vote

Photo: Carl Collins/Wikimedia

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