This article will reflect on the compensation paid to Joe Hudson who has served as CEO of Ibstock plc (LON:IBST) since...
The Standard Sport team assesses another dramatic weekend of action across football...1. Bamford has come a long way since "terrible" Palace spell
(Bloomberg) -- SAP SE shares dropped as much as 21%, the biggest intra-day drop since 1999, after the Walldorf, Germany-based company cut its revenue forecast for the full year and said it expects a fresh wave of lockdowns to hurt demand through the first half of 2021.In a test for Christian Klein, who became sole chief executive officer in April, the pandemic will delay SAP’s goals for cloud revenue, overall sales and operating profit by one or two years, especially in hard-hit industries, the German software company said in a statement on Sunday.Given an acceleration of the cloud transition, the company said it expects limited growth and margin improvement in 2021 and 2022. Furthermore, the company moved its 2023 strategy out to 2025. Klein said on a call Monday he expects a conservative recovery into the first half of next year.The previous outlook “assumed economies would reopen and population lockdowns would ease, leading to a gradually improving demand environment in the third and fourth quarters,” SAP said in the statement. “Lockdowns have been recently re-introduced in some regions and demand recovery has been more muted than expected.”The company now expects adjusted revenue of 27.2 billion euros to 27.8 billion euros ($32.2 billion to $32.9 billion) at constant currencies in 2020, lower than the earlier guidance of 27.8 billion euros to 28.5 billion euros. SAP also said it no longer sees a boost from business-travel related revenue this year in its Concur business.Nicholas David, analyst at Oddo BHF wrote in a note that it was difficult to find some positive news from the results.“The warning on the mid-term ambitions was expected/feared by the market but the new ambitions are lower than the most pessimistic expectations,” he said.Qualtrics IPOSAP said it is in the advanced stages of a listing for its Qualtrics software unit.“We are well advanced in the preparations of the Qualtrics IPO”, Chief Financial Officer Luka Mucic said on a call Monday. “Qualtrics has had a strong quarter which will set it up for further growth into next year”.The Walldorf, Germany-based company announced the decision in July to list the unit less than two years after buying the company for a record sum in a surprise u-turn signaling a strategic shift under Klein.New OutlookAdjusted cloud revenue is expected to be 8 billion euros to 8.2 billion euros in 2020, down from a previous estimate of 8.3 billion euros to 8.7 billion euros.Operating profit will be 8.1 billion euros to 8.5 billion euros this year, down from expectations of as much as 8.7 billion euros.SAP updated its mid-term ambition for total revenue to more than 36 billion euros in 2025 compared to its previous estimate of 35 billion euros in 2023.The company sees more than 22 billion euros in cloud revenue and over 11.5 billion euros in operating profit by 2025.Third QuarterThird quarter non-IFRS operating profit decreased by 12% year over year to 2.07 billion euros. That compared to the 2.15 billion-euro average estimate from analysts in a Bloomberg survey.Revenue in the period declined 4% to 6.54 billion euros compared to analysts’ average 6.89 billion euro estimate.Market ReactionSAP shares have gained 3.8% this year through Friday compared with a 5.5% decline in Germany’s DAX index.Get MoreRead the full statement here.After Losing Co-Pilot, SAP CEO Plots Solo Path Through PandemicU.K.’s CMA to Start Antitrust Probe on Sinch, SAP Unit DealSAP Is Said to Tap Morgan Stanley, JPMorgan for Qualtrics IPO(Updates with shares, additional context)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Looking for the best Christmas gifts? How about some inspiring and uplifting presents that'll combat the doom and gloom?
The ceremony was held online on Sunday night.
The beleaguered U.K. theater scene, devastated by the coronavirus pandemic, had some reason for cheer as the annual Olivier awards were presented on Sunday. Veteran actor Ian McKellen was honored with his seventh Olivier for his 80th birthday tour, while Sharon D. Clarke received her third, winning best actress for her performance in the Young […]
Negotiations between Ethiopia, Egypt and Sudan over a multi-billion dollar dam on the Blue Nile will resume on Tuesday, nearly two months after Egypt left the talks, African Union chairman Cyril Ramaphosa said on Monday. A bitter dispute between the three countries over the filling and operation of the Grand Ethiopian Renaissance Dam (GERD) remains unresolved even after the reservoir behind the dam began filling in July. "The resumption of the trilateral negotiations on the GERD ... is a reaffirmation of the confidence that the parties have in an African-led negotiations process," Ramaphosa, who is South Africa's president, said in a statement.
Dublin, Oct. 26, 2020 (GLOBE NEWSWIRE) -- The "Electricity Utility Customer Analysis Ed 1 2020 " database has been added to ResearchAndMarkets.com's offering. The purpose of this database report is to provide a tool to segment and target utility markets. Analyse the world population of electricity distribution utilities by country and size. This database is designed as a practical resource for marketers of equipment, technology or services for electricity transmission and distribution utilities. If you sell any products, technology or services to utilities this database will enable you to target your market efficiently, whether you seek the largest utilities with expensive high-end systems or small utilities with low-cost basic products. Examples of products and services for utilities: Power and distribution transformers,Switchgear - distribution panels, fuse gear circuit protectors, surge arresters, air-core reactors, fuse gear, switches, disconnectors, protection relaysSmart meters, standard metersInsulators & bushings, spacers, dampers & fittingsLightning arrestersDistribution automation including SCADASmart grid technologyAccountancy software Save money by zeroing straight in on your prime targets, the utilities which purchase these and other products and services. Some products or services involve high investment and are designed for large utilities. Many more are in the intermediate or small range. Whichever category you are in, this database provides a basic marketing resource to segment and target your market.901 electricity transmission utilities and 7,182 distribution utilities are listed by country and analysed by size. Globally, there are 38 electricity distribution utilities with more than 10 million customers, 41 with 5-10 million, 237 with 1-5 million and 6,865 with under 1 million. The database segments the world electricity utility market: 7,182 electricity distribution utilities listed901 electricity transcos2,224 million customers MethodologyThis report has been compiled mainly from primary research, with some secondary sources. The database is the product of hundreds of hours of research, searching thousands of utilities in over 200 countries. 92.5% of all electricity customers have been identified by the utility. The report is presented in Excel with 12 spreadsheets: - two summarising the global data and analysis and one for each of ten regions; Europe, CIS, Middle East, North Africa, sub-Saharan Africa, Asia, Pacific, North America, South America, and Central America. For more information about this database visit https://www.researchandmarkets.com/r/42u8q6 About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Treasury boss 'surprised and concerned' by $30m Western Sydney airport land sale. Steven Kennedy, who was head of the infrastructure department at the time, says ‘we need to get to the bottom’ of the purchase
Apple and Netflix are among the streaming services to have reportedly been involved in discussions with the film’s studio
A nervous draw saw Ole Gunnar Solskjaer and Frank Lampard’s sides struggle to create chances
(Bloomberg) -- Amazon.com Inc. and Mukesh Ambani’s Reliance Industries Ltd.’s fight for dominance of India’s lucrative e-commerce space is turning into a face-off, with both sides battling over the assets of a supermarket chain that could be key to their wider ambitions.Ambani and Jeff Bezos, two of the world’s wealthiest men, want the stores and warehouses of Future Retail Ltd., which has penetrated Indian cities and small towns with sales of everything from grocery to fashion and electronics. Amazon, which owns stake in a Future unit, and Reliance have in recent months made pacts with the Future Group, which they say are now being violated.Reliance intends to purchase Future Retail’s assets “without any delay,” the conglomerate’s unit said in a statement late Sunday, after a Singapore arbitration court restrained Future from going ahead with the transaction. Reliance had agreed to buy Future’s retail, wholesale, logistics and warehousing units for $3.4 billion in August, pushing Amazon to request an emergency hearing to stall it.In a separate statement Monday, Future Retail said it wasn’t party to the Singapore proceedings and the matter “will have to be tested” under Indian arbitration law.“One can expect legal proceedings to be initiated in Indian courts from both” Future and Amazon, said Amit Jajoo, a partner at law firm IndusLaw. “If Future Group is stopped from going ahead with the sale, effectively it also stops Reliance.”Amazon wants to block Reliance’s purchase of Future’s brick-and-mortar assets because such a deal would give Ambani unparalleled dominance in the only billion-people economy open to foreign firms. Bezos has bet more than $6 billion on India, and Future’s assets will allow it to reach small towns that house key consumers in a market estimated to swell to $1 trillion.Representatives for Amazon declined to comment beyond its Sunday statement, which welcomed the Singapore order and committed to an expeditious arbitration.Battle LinesAmazon drew the battle lines earlier this month when it accused Future of violating a contract between the two sides by agreeing to a buyout by Reliance. The deal would have been a bailout for Future, which faces another potential cash crunch as competition in the Indian retail space intensifies and the economy slows amid the coronavirus pandemic.Shares of Future Retail fell 4.4% as of 1:09 p.m. in Mumbai on Monday, while those of Reliance Industries Ltd., the conglomerate’s flagship, dipped 2.3%.A spokeswoman for the Seattle-based e-tailer told Bloomberg on Oct. 8 that it had initiated steps to enforce its contractual rights with Future, without giving more details. The deal between Reliance and Future, announced late August, is awaiting regulatory approval, which won’t necessarily be delayed by the Singapore court’s order.‘Very Attractive’Amazon agreed to purchase 49% of one of the Future Group’s unlisted firms last year, with the right to buy into their flagship, Future Retail, after a period of between three and 10 years. But about two months ago, rival Reliance announced it would buy the retail, wholesale, logistics and warehousing units of the indebted Future Group, almost doubling its footprint.In May, Amazon was considering increasing its stake in Future’s retail unit to as much as 49%, people familiar with the matter said at the time. But that transaction didn’t materialize in time for Future, seeing it instead cut a deal with Ambani’s refining-to-retail conglomerate.“Amazon is establishing itself as a reliable online retailer and to take their marketshare will need a huge effort from Reliance, which is not structured for online retail,” said K.S. Raman, a Mumbai-based retail adviser to the Consumer Electronics & Appliances Manufacturing Association. “But any online retailer will need strong offline support, and that’s why Future’s huge store presence is very attractive to them both.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
‘It always made me slightly uncomfortable,’ he admits
The company fears it could breach its debt covenants without an injection of cash.
England international’s clumsy touch in a disappointing draw against West Ham was emblematic of how Pep Guardiola’s side are still slightly out of kilter
Xinjiang mass testing drive is in line with those seen during the outbreaks in Quindao and Wuhan
Welcome back to the Evening Standard’s LIVE coverage of all the latest transfer news as the fallout continues from last week's deadline day.The domestic window finally slammed shut for Premier League clubs in its entirety on Friday, 16 October, with the international window having already closed on October 5.
(Bloomberg) -- Hurricane-strength winds are rattling Northern California, sending the risk of wildfires soaring and prompting the state’s largest utility to cut power to prevent live wires from toppling into dry brush and sparking blazes.PG&E Corp. had cut electricity to 225,000 homes and businesses in areas north of San Francisco as of Sunday afternoon with plans to turn off power in the evening to an additional 136,000 in areas including the East Bay and South Bay, impacting an estimated 1.1 million people as gusts exceeding 80 miles (129 kilometers) an hour swept through an area already bone-dry from heat and drought. Utilities in Southern California warned they may need to cut power, too.“This is the strongest event we have seen so far this year,” said Karleisa Rogacheski, a meteorologist with the National Weather Service in Sacramento. It’s some of most dangerous weather the state has seen since the Camp Fire erupted in 2018, killing 85 people, she said.PG&E said it may restore power starting Monday afternoon, though some customers may be left in the dark through Tuesday.By mid-afternoon Sunday, at least three blazes had broken out north of Sacramento, according to the California Department of Forestry and Fire Protection.The brutal winds, fires and blackouts are the latest blow for a state that’s been battered by violent weather and has already seen a record 4.1 million acres (1.66 million hectares) scorched this year. PG&E has previously cut power four times in 2020 to prevent falling wires from igniting blazes in a region that’s tinder dry from heat and drought. This round is the biggest yet as an estimated 4.2 million people are at risk from extreme fire conditions, according to the National Weather Service.The winds, fueled by a low pressure system in the Pacific Northwest, were gusting as high as 89 mph in Northern California at 11:20 p.m. local time.Fire fighters were battling three new blazes in Shasta County, including the Point Fire which had burned 275 acres and was 70% contained by about 6 p.m. Local time, Cal Fire said. The nearby Dersch Fire had burned at least 50 acres.Come Monday, humidity will be as low as 6% in Redding and just 5% in Grass Valley, according to the National Weather Service. It comes as the state is already riddled with dry brush and grasses due to some of the warmest temperatures on record over the last nine months, according to the U.S. National Centers for Environmental Information.PG&E is cutting power in stages. It began at 10 a.m. local time Sunday in the Northern Sierra region and will continue through Monday evening, the company said. The outages will hit 36 counties that include the San Francisco Bay area, the Sierra Nevada foothills, the Central Valley and the Central Coast.The blackouts may hit densely populated parts of the San Francisco metropolitan area, including portions of Oakland, Berkeley and Marin County -- cutting power to many residents as they are working from home due to the coronavirus pandemic. The city of Berkeley advised residents living in the hills to evacuate due to the fire risk, according to a statement.In Southern California, Edison International said about 75,000 customers could lose power beginning Monday. That’s about 225,000 people based on the size of the average California household. Sempra Energy’s San Diego Gas & Electric Co. is considering about 21,000 outages.And Pacific Power, owned by Warren Buffett’s Berkshire Hathaway Inc., said it could switch off power in Northern California and Southern Oregon on Sunday due to the gusts, according to a statement.Much of the U.S. West is at risk from wildfires as dry weather and stiff winds turn hillsides, forests and scrub land into tinderboxes. In Colorado, two of the largest fires in state history have forced the closure of Rocky Mountain National Park and triggered the evacuation of nearby towns.More than 8 million people across California will be in high-risk zones, including the cities of Sacramento, Stockton, and San Bernardino, the U.S. Storm Prediction Center said in its long-range forecast.The outages come on the heels of a blistering heat wave that gripped California earlier this month, driving temperatures to record daily highs. In August, a freak lightning storm sparked more than 150 wildfires in 24 hours. Days before that, the state’s grid operator ordered the first rotating outages since the Enron-era energy crisis of 2001 as scorching weather sent electricity demand surging.PG&E began resorting to preventative shutoffs after its equipment caused some of California’s worst blazes, forcing the company into bankruptcy last year. PG&E emerged from Chapter 11 in July after paying $25.5 billion to resolve fire claims.(Updates wind speed in second and seventh paragraphs)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
You can adjust and enhance your communication by focusing on some of the other pieces that aren’t hidden behind a mask.
Hundreds of thousands more people are preparing for the imposition of toughest coronavirus restrictions as talks continue between the Government and local leaders.Parts of Nottinghamshire are on course to enter the highest Tier 3 alert level as early as Wednesday after discussions carried on through the weekend. The council in Warrington in Cheshire has already said it will be joining Tier 3 on Thursday.