Business

When investors thought that Canopy Growth (CGC) could not report any poorer numbers, the company was once again disappointed and shocked the entire market. In terms of numbers, the underlying trend is better than the headline news, but the leading cannabis LP still has a extended way to go previously business support is still valued at $5.3 billion.

The firm officially informed revenue for the second quarter of $76.7 million. These revenues were affected by restructuring costs of $32.8 million from taxes and pricing allowances for soft gels and oil records and $15.8 million in inventory costs. These combined expenses reduced gross profit by $40.4 million. Excluding these costs, revenue will increase by 6% from the previous quarter to $118.3 million. The increase in revenue was entirely attributable to the increase in international medical income brought about by the acquisition of  ThisWorks and C3. As some opponents have reported, the Canadian market was a calamity this quarter due to expected inventory flooding. Canada’s B2B entertainment revenue fell 15.6% from the previous quarter. After deducting fees and excise taxes, Canadian cannabis total revenue fell 7.2% to $76.6 million.

In the September quarter, canopy growth was finalized in the second quarter and the harvest exceeded 42,000 kg. The problem here is that the kg sold is only 10,985 kg. The company’s product sales increased by 3.5% throughout the quarter, and the formation of the business has at least doubled the sales level of the product. Technically, the gross profit margin for the quarter fell to minus 13%. If no adjustments are made, the gross profit margin for the quarter is 38%. The modification also includes a cost of $10.5 million for underutilized services. The crown grows like a driver’s flashing turn signal along a highway. Those followers who follow are wondering if this turn will come. Harbour analyst Brett Hundley will not change his face soon. However, the analyst believes that investors should not exclude this beleaguered pottery giant from the game.

Those who are in favor of lesser workdays in a week can increase the productivity of the company and employee. For them, Microsoft is employing four days’ work week strategy in japan, and the results of this experiment are unbelievable. Microsoft used this concept in Tokyo, and they gave every Friday off. Company-paid workers for every fifth day and because of this, the employee can spend more time with their family. The result of this was shocking. Productivity increased by up to 40.00%, according to the company. Employees filled more efficiency into their 31-hour weeks by directing more distant conference calls, while also printing far fewer material at the office cost assets. General data from the so-called Work-Life Choice Test showed “employees are seeking spread work styles,” Microsoft administrators said in a speech. This kind of experiment sometimes will not work because japanize employes follow their work ethics strongly than any others.

According to some reports of 2019, most of the American companies are offering 4-day work per week. This report also stated that four-day work per week is uncommon, but companies are not facing any loss in productivity. In Newzealand founder of Perpetual Guardian employed this concept to the 231 employees of the company. And they found that after giving fifth-day work off to the employees, their productivity increased by 20% and the profit of the company is remained unchanged. Also, one of the call center companies in the United Kingdom gave the fifth day of their 502 workers, and they found that the productivity of workers increased by up to 30%.

Microsoft administrators in Japan said their data open some barriers for applying a four-day workweek more generally, including some pushback from managers and jagged results reliant on the department. But Mr. Bames, who is writing a book on four-day work per week this concept can work in any kind of company independent of size and revenue

Aviva Plc is an Insurance company based in the UK. Recently confirmed it’s inspecting options for its Asian business as new CEO Maurice Tulloch’s turnaround of the UK only insurance corporation takes form. According to reports, the company confirmed on the Asian division, while giving no extra detail as part of its half-year rates. Earlier Bloomberg news reported in this month that the assets could be valued around US$3 billion to US$4 billion. According to Mr. Maurice Tulloch, CEO of Aviva Plc, the review will gather whether our strategy and ownership structure is best and helping our companies to reach their potential.  Mr. Maurice Tulloch held he would reveal his plans for Aviva’s international business at an investor day in November.

Mr. Maurice Tulloch is looking for turnaround Aviva Plc after years of stagnation. In 2015, the stocks slumped more than 30% then the company bought Friends Life Group Ltd., an agreement that increased the company’s stake of the pensions market but added difficulty to the group. The company’s asset management business, Aviva Plc Investors, saying net outflows of around 5 billion pounds in the first half, reflecting a slow start to the year for money managers across Europe, although a rebound in markets. The division now manages 346 bn pounds. Standard Life Aberdeen and Schroders Plc have appreciated losses as energetic managers come under burden from low-fee passive goods.

Operating expenditures remained 2% higher at 1.96 bn pounds, as it starts work on Mr. Maurice Tulloch’s aim to cut three hundred million pounds a year in 2022. Strategies are in place to protect around half that amount in the next three years. The company already saved twenty-five million pounds. Aviva Plc raised its interim bonus to 9.5 pence from 9.25 pence in the last year. The company not provided any updates on its new CFO. The insurer declared in June that Jason Windsor would act as a substitute CFO of Tom Stoddard.

America exports a major portion of its soybean production to China. But, US-China trade war has gravely affected the export as China stopped the soybean import from the US. China is the world’s largest soybean importer, and the imports have been record high in July, according to the country. Currently, the country is importing the legume from Brazil as an alternative to the US because of the US-China trade conflict. This fall in export is directly affecting the US farmers’ market share, and they are showing their remorse to the Donald Trump Government.

Adding to this, the Midwest is on the verge of drought and arid summer weather. The scorching heat is drying the crop and making it worse as compared to the same time in the past years. All of these factors are affecting US farmers’ revenue. This situation is a reflection of the collateral damage of the US-China trade war, which is causing a redirection of demand and supply. In July 2019, China’s total imports reduced to a value of 5.6% which wasn’t expected at all, and total exports unexpectedly increased to 3.3%. While the exports to the US reduced by 7%, countries such as South Africa, Taiwan, and Brazil increased imports for china in double digits compensating for this deficit.

The tally of last months trade war was a trade surplus of 45.1 billion USD in favor of China. This value is similar to that it posted two years ago before the US tarrifs and the retaliation from China. The current situation depicts that the Chinese government won’t stop boycotting US’ agricultural products anytime soon. Trump further threatens to increase the tarrifs by 10% on 300 billion USD Chinese imports on an existing 25% extra tarrif on 250 billion USD.  These highly taxed imported products will create a difficult situation for many. First of September is the deadline for this which is a day before labor day when the farmers from Ohio to Iowa turn up their harvests.

After struggling with Slow growth and internal dissatisfaction, four hundred employees from the Marketing team of Uber received a farewell. With the Lay off in the Marketing Team in uber’s Global offices, the entire team is down to 800 from 1,200 employees. Recently, Uber CEO Dara Khosrowshahi wrote an Internal Email to the entire team and explained that they have to focus on the slow growth and address the internal dissatisfaction. After that mail, nearly 400 of the employees are now no more associated with Uber’s Marketing team.

As per the recent SEC filings in June, Uber currently has 24,494 employees in Global offices. With the recent layoff, the company lost its 1.6% of the workforce. In an Internal Email sent to the employees, CEO Data Khosrowshahi said that Slow growth is natural for big companies. As the company gets bigger, it starts to encounter a slow growth phase. But the management has to act to increase the growth rate; otherwise, the company will fall or stay at the same growth rate. Not just the CEO, but the head of Uber’s Marketing Team also sent an internal email, mentioning the internal dissatisfaction. With the increasing internal dissatisfaction and overlapping mandates, it is the time to take quick actions.

Last Month, Uber combined its Marketing, Public Relations, and Policy Team. The combined team is lead by senior vice president of communications and public policy Jill Hazelbaker. After that, the Chief Marketing Officer Rebecca Messina stepped down from the position. From that point, the company started assessing the opportunities to perform a layoff of the marketing team. It is not a shocking decision as the layoff of the marketing team was confirmed when the Marketing, Public Relations, and Policy teams were combined as a cost-cutting effort.

According to the information shared by the United States Department of Agriculture, Kent Quality Foods is going to recall sausage products. The company suspects foreign contaminants in the shipped products, and that is why they are recalling the products from American markets. The United States Department of Agriculture quoted 48,681 pounds of sausage and meatball products that are in the queue for being recalled. The ready-to-eat polish sausages are one of the most popular products from Kent Quality Foods in the United States of America.

The United States Department of Agriculture claimed that the ready-to-eat polish sausages have foreign contaminants, mostly the pink rubber particles. The contaminant makes the food inedible for human consumption. The packages manufactured between June 17, 2019, and June 20, 2019, are subjected to recall as they are contaminated. The products have EST 5694 printed as the Establishment number and sold to the retail stores in Utah and California. On July 17, 2019, and July 18, 2019, the company received two different complaints of external contaminants in the “TETON WATERS RANCH COOKED UNCURED POLISH SAUSAGE MADE WITH BEEF” product. Upon receiving the complaint, the claims were verified, and the decision of recalling the products was made.

The food safety and inspection service of the USDA asked the customers not to consume the said product. Also, most of the retail stores are informed to send the product back to Kent Quality food. Thankfully, no adverse effects are noticed due to the consumption of contaminated food. But the company is advising customers to contact the healthcare service provider in case of any medical emergency due to the use of its product. USDA is urging the customers who have the products in the refrigerator not to consume it or return the same to the stores.

President of the United States of America is imposing the tariffs on American companies importing the products and components from outside of the country. Apple is not an exemption to this rule, as Donald Trump used Twitter to clear the air on Tariff exemptions for Apple. According to the recent tweet from Donald Trump, Apple is not getting a tariff exemption for new Mac Pro devices. As Apple has shifted the production facility from Texas to China, the government is not so Happy and is imposing the tax on the company. Currently, the tariff is only applicable for APple’s Mac Pro and the components needed to assemble it.

According to the tweet posted by President Donald Trump, Apple will have to pay the extra taxes on Mac Pro and the components imported from China. To avoid taxes and tariffs, the company would have to manufacture everything in the United States. Mac Pro is not the only device that Apple produces in China. But Apple Airpods and Apple Watch are two products that are mainly manufactured in the Chinese borders. Still, these two products have not attracted any tariffs. The reason might be the lower cost of the product.

President Trump already made clear that the companies who can declare the imported products are not crucial to the technical program of China are allowed for an exemption. Even though the company tried to provide the proofs that the components they were importing were not beneficial for China’s industrial development, the Department of Commerce was not satisfied. Apple’s Mac Pro was the only device to be entirely made in the United States of America when the company had a manufacturing plant in Texas. But the production problems forced the company to go back to Chinese partners and then import the device in American boundaries.

The federal reserve is going to meet next week for discussing and solving the problem of interest rates cut. There are already many speculations going on that Feds might announce about reducing the rate of interest. However, there are still three options Federal Reserves have which they can use before taking the final decision. The first option which Feds has is that they can hold the interest rates, and this decision is still under scepticism. There are many reports which show that this time Feds might be able to cut interest rates.

The central bank is trying to make things useful because of an ongoing trade war between US-China. The trade war which Trump administration started a few months ago has taken a toll on the US economy. Now because of such geopolitical environment interest rates are going to get cut down. Jeremy Powell has always been sceptical about Trump’s economic policies and because of which both of them had a strong disagreement.

Another option which the Fed has is that they can cut interest rates by twenty-five to fifty points, which is most likely going to happen. The wall street is closely watching this meeting of Feds and investors are looking to get a good result. Investors a few days ago, gave a positive response on the market about speculation regarding the Fed’s interest cuts. Last option which Feds has is hiking interest rates, and that’s most probably not going to happen. Feds in previous quarters took this decision, which even made angry to the US President Donald Trump. During the ongoing trade war with China, the US suffered a lot economically still Feds didn’t cut interest rates at that time. In this upcoming meeting, it’s most likely that the Fed is not going to hike interest rates. The US economy is currently going through a dense phase, and it requires help from Feds.

Coca Cola, which is one of the largest beverage companies, is trying to make a bold move of introducing alcoholic drinks for its customers. Reportedly Coca Cola is testing to sell Alcoholic soft drinks in Japan, and if the trial gets success, then it will be spread all over to the japan. US consumers shouldn’t think about it as of now because Coca Cola is testing this trial run in Japan only. But we can’t say anything about the future. The company already launched Lemon flavoured cold drink in May 2018, and soon they are going to start Lemon Do alcoholic soft drink next October.

Coca Cola has got inspiration for this unique drink from Japan’s popular canned drink called “chu-hi.” This so-called alcoholic soft drinks of Coca Cola is going to contain 3-7 percent of Alcohol. This product is highly unique, and it might be of its own kind, which will attract new customers in Japan. Japan’s head of business said that they had developed this new beverage after analysing Japan’s culture.

Japan is famous for its unique culture and people here might have liked it, but executives are not in the mood of launching it worldwide. The overall targeted customers of Coca Cola is entirely different, and this product is made explicitly for Japanese customers. Coca Cola is that beverage which has tried many times of launching a new cold drink product, but they did not get that much success with it. In 2006 the company launched a new coffee product which got failed miserably, but now they are starting it again with some modification. This fresh coffee flavoured cold drink is going to be made available in more than 25 international markets, and the company is expecting a positive response this time. US customers, on the other hand, will have to wait for alcohol contained beverage, but they might get it if the company gained success in Japan.

Everyone in the stock market currently is watching over Fed’s decision of cutting interest rates. Recent reports show Feds most likely going to announce the cutting of the rate of interest by quarter-point. When it comes to interest policies, the Fed has always been hard on it from the last many years. It’s been a decade when Fed declared cut of interest rates. By the end of July Feds chairman Jeremy Powell is going to announce interest rates getting lowered. Currently, the US is facing some external trade tensions, which is diminishing the country’s economic growth rate.

Now to increase the economic expansion of the USA Fed will have to declare cut of interest rates. At first, some experts said Fed might cut 50 basis point but after looking at the recent actions of the Fed expectations of investors have further gone down. Feds Jeremy Powell has always been hard when it comes to interest rates. He has believed in not cutting rates even though the USA was going through a trade war with China.

However, this is going to be the first time in a decade that Fed is going to cut interest rates. Investors are waiting for this fully quarterly point cut in the upcoming Feds general meeting. Jeremy Powell already said that Fed is going to cut interest rates and Asian market plus Donald Trump is looking at this upcoming interest rates announcement. The Fed is expecting a policy rate to 2.25% to 2.5%, which was everyone expecting. The current economic conditions in the USA are not right because of ongoing trade war issues. Many experts have already speculated that country is on the verge of inflation. This decision of Feds is undoubtedly going to have positive effects on the ongoing trade war between the US and China.

Entrepreneur’s journey might look fantastic, but it’s full of mistakes which you should try to avoid at any cost. Being an entrepreneur is not that much easy, especially when you are doing most of the things on your own. Following are some critical mistakes which every entrepreneur should avoid at any cost.

Not Talking To Users

When you are providing any goods or services to customers, then getting their correct feedback is essential for future growth. Many new entrepreneurs don’t give that much importance to getting feedback from there users and talk about the problems which they are facing. When you speak up with users, you will get to know about what kind of things you should improve. If you are not talking to your users, then you are missing one of the most significant growth opportunity.

Not Giving Your Company The Top Priority

Every entrepreneur will have to give the top priority to their respective company over all other things like friends, family and significant others. If an entrepreneur wants to become successful, then they will have to sacrifice many great things which give them pleasure. The journey of a successful entrepreneur starts when you get out of your comfort zone and give your best to whatever you are doing.

Hiring Of Bad People

There’s an old saying which goes like “If you are the smartest person in the room, then you are in the wrong room.” If you want to see your company getting excel at everything, then you will have to hire and meet those people who are more intelligent than you. Wrong hiring may result in a decrease in sales and productivity of other co-workers. Sometimes it’s better to do those which might be hard for you along rather than in a company of bad co-workers.

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When it comes to electric vehicles, there’s only one company which is dominating this sector, and that’s Tesla Inc. Tesla is producing innovative electric cars from a long time, and while making such cars, they always need high functioning battery cells. Currently, Tesla gets these battery cells from Panasonic, but from last few months relationship between these two companies hasn’t been that much good. Now a recent report indicated that Tesla is trying to produce battery cells by its own and they have even started to work on it in one of their factories.

Tesla has taken some efforts and instructed its R&D department to produce lithium-ion battery cells, which they can later use in their electric cars. As of now, Tesla Inc. is getting the supply of these batteries from giant, but it seems like this partnership is going into oblivion. Panasonic has been continuously providing battery cells to Tesla from last many years, but in 2018, the company said that they lost more than $65 million because of its business with Tesla.

Now the joint venture between Tesla-Panasonic is getting an ugly turn, and that’s why Elon Musk led Tesla has now decided to lose its ties with Panasonic. Recently Maxwell technologies, a company which makes automotive- and utility-grade battery components got acquired by Tesla. Experts predict that Tesla is now going to use much of this company’s resources to produce lithium-ion battery cells which they can later use in electric cars. Tesla is that electric company which has been on the verge of bankruptcy for more than two times, but they have successfully got out of that situation. Elon Musk recently said that the company is going to achieve advancement in battery availability and self-driving technology in the next few years.