Tag: billion

14
Oct
2020
Posted in technology

Review: ‘Billion Dollar Loser,’ by Reeves Wiedeman

Neumann spun an origin myth about growing up on a kibbutz in Israel, where he appreciated the community but bristled at how everyone was rewarded the same regardless of how much work they put in. He envisioned WeWork, he said, as a “capitalist kibbutz”—a “community,” but the kind where “you eat what you kill.”

Wiedeman (with whom I overlapped while working at The New Yorker) presents a more nuanced portrait of the founder as a young man. Neumann was born in 1979 in Beersheba, Israel, to physician parents who shuttled Neumann and his sister around desert towns before moving to the suburbs of Tel Aviv. When he was in the second grade, his grandmother realized that he couldn’t read the menu at a restaurant; he was dyslexic. “He had become skilled at fooling his teachers and coaxing others to do what he needed,” Wiedeman writes. After his parents divorced when he was 9, his mother moved, with him and his sister, to Indianapolis, where he struggled emotionally at first. Only later did the family live on a kibbutz, after they’d returned to Israel. Neumann went on to serve in the Israeli navy, and then moved to New York, where he enrolled at Baruch College, before launching a series of businesses—making collapsible high heels, then baby clothes with kneepads—and dropping out. In 2010, he and a friend, Miguel McKelvey, unveiled WeWork.

At the time, co-working spaces were already common. The business model was straightforward: Entrepreneurs “leased space, cut it up, and rented out each slice with an upcharge for hip design, flexibility, and regular happy hours,” Wiedeman writes. But those in charge typically ran no more than a few locations apiece, in part because operating multiple spaces required spending a lot of money, up front, on leases. What distinguished Neumann,

14
Oct
2020
Posted in technology

Huawei discussing $3.7 billion sale of parts of Honor business: Report

  • Huawei is in talks with Digital China Group and other buyers to sell parts of its Honor smartphone business, Reuters reported.
  • The deal could be worth up $3.7 billion, a person familiar with the matter told Reuters.
  • The Chinese tech giant, facing heavy US sanctions, wants to concentrate on its high-end Huawei phones from now on, sources said.
  • Other potential buyers include smartphone maker Xiaomi and TCL Technology, the report said.
  • Visit Business Insider’s homepage for more stories.

Huawei is in talks to sell parts of its Honor smartphone business in a deal which could fetch up to 25 billion yuan ($3.7 billion), Reuters reported. 

Huawei, which faces heavy sanctions in the US, wants to step away from developing its low-cost Honor phones and instead concentrate on high-end Huawei devices, according to people familiar with the matter.

Digital China Group, the main distributor for Honor smartphones, is the frontrunner to land the deal, the people told Reuters.

It is competing with smartphone manufacturer Xiaomi Corp and Chinese electronics company TCL Technology, they said.

Honor’s brand, research and development capabilities, and its supply chain management business could be included in the deal according to two of the people.

One of them said that the deal could be an all-cash sale, worth between 15 billion yuan ($2.2 billion) and 25 billion yuan ($3.7 billion).

Huawei was put on the US’ Entity List in May 2019. This means that American companies are banned from doing business with Huawei, and can only trade with it if they get special permission from the Trump administration.

Digital China, TCL, and Xiaomi did not immediately respond to requests for comment. Huawei declined to comment.

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14
Oct
2020
Posted in technology

Flipkart Banking On Fintech To Boost The Big Billion Days Sale

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Flipkart has announced partnerships with several banking, insurance and financial service entities, ahead of The Big Billion Days, to make shopping on the platform more affordable than before.

Through these partnerships, the company is offering affordable credit options through seventeen leading banks, NBFCs (non-banking financial companies) and fintech players on the platform, which will drive credit accessibility for over 70 million customers.

Flipkart has partnered with State Bank of India (SBI) and SBI Card to provide a 10 per cent discount to their debit and credit cards holders.

“At Flipkart, customer-centricity is at the heart of all our endeavors, as we create increased shared value for all our stakeholders and partners in the ecosystem. By facilitating credit and insurance access, and simplifying payments for over 250 million customers across the country, we are reinforcing our commitment to helping fulfill their aspirations without the burden of financial constraints. Through these partnerships and their expansion, we hope to take the promise of The Big Billion Days to more customers to enable meaningful growth,” said Flipkart head of fintech and payments group Ranjith Boyanapalli, in a promising tone.

With the launch of Kotak Mahindra Bank and Federal Bank Debit Card EMI payment option, customers can now avail pre-approved credit from seven leading banking and fintech giants.

“We are delighted to associate with Flipkart as an exclusive credit card partner for the flagship The Big Billion Days shopping festival. We have had a long association with Flipkart and this is another collaboration which will bring our customers the best from both partners. SBI Card customers can

14
Oct
2020
Posted in technology

HCA Healthcare Returning $6 Billion In Federal Coronavirus Aid

It’s rare when a company returns federal money. It’s rarer still when that money amounts to billions of dollars. Yet that’s the situation with top U.S. hospital operator HCA Healthcare (NYSE:HCA), which aims to return gobs of government largesse from whence it came.

All told, HCA announced that it’s planning to return roughly $6 billion, $1.6 billion of which consists of federal COVID-19 grants and $4.4 billion in Medicare loans. Both were provided as part of the government’s Coronavirus Aid, Relief, and Economic Security Act (CARES) passed in the early stages of the current pandemic.

HCA benefited from the loans and grants bestowed upon operators of healthcare facilities to help keep them afloat.

The company will pay those funds back because it continues to thrive, even though many elective surgeries have been postponed or canceled in the face of the coronavirus.

Last week HCA published a “preview” of its Q3 of fiscal 2020 results, indicating year-over-year revenue growth approaching 5%, to an estimated $13.3 billion. It is also projecting only a relatively modest drop in profitability, with non-GAAP (adjusted) EBITDA — earnings before interest, taxes, depreciation, and amortization — sliding to around $2.03 billion from the year-ago result of almost $2.29 billion.

“During the early days of the pandemic, the Company took a conservative approach which included a number of actions to meet the operational and financial challenges this global health crisis was expected to present,” HCA explained in the press release heralding the preliminary Q3 figures.

The company did not provide a timetable as to when it would repay the federal grants and loans.

Tuesday was a good day for HCA stock; it rose by almost 2.1%, against the 0.6% drop of the S&P 500 index.

This article originally appeared in the Motley Fool.

Eric Volkman has no position

14
Oct
2020
Posted in software

Patient Safety And Risk Management Software Market Size Worth $3.1 Billion By 2027: Grand View Research, Inc.

SAN FRANCISCO, Oct. 14, 2020 /PRNewswire/ —  The global patient safety and risk management software market size is expected to reach USD 3.1 billion by 2027, expanding at a CAGR of 11.0%, according to a new report by Grand View Research, Inc. The increasing need for efficient patient safety and risk assessment solutions to increase the efficiency of the healthcare providers and rising government initiatives to promote healthcare IT and improve the healthcare infrastructure are the key factors driving the market growth. Furthermore, the increasing occurrence of cyber-attacks on electronic health records is expected to boost the revenue growth of this market over the forecast period.

Key suggestions from the report:

  • The increasing incidence of medical errors is expected to be the major factor driving the market
  • The risk management and safety solutions segment dominated the market with a revenue share of 67.4% in 2019, owing to the development of the solutions to effectively monitor patient safety
  • The Asia Pacific dominated the market and accounted for the largest revenue share of 12.5% in 2019, owing to the increasing patient population and increased adoption of technology in healthcare facilities.

Read 90 page research report with ToC on “Patient Safety And Risk Management Software Market Size, Share & Trends Analysis Report By Software Type, By End User (Hospitals, Ambulatory Care Centers, Long-term Care Centers), By Region, And Segment Forecasts, 2020 – 2027  ” at: https://www.grandviewresearch.com/industry-analysis/patient-safety-risk-management-software-market

Based on software type, the risk management and safety solutions segment dominated the market and accounted for the largest revenue share of 67.4% in 2019. One of the key factors contributing to the increase in demand for such solutions is to monitor the safety of patients and improve organizational growth, therefore waiving off risk factors. On the other hand, the governance, risk, and compliance