- Sprint Pledged to Create 5,000 US Jobs
Telecom firm Sprint said it will create 5,000 US jobs over the next 15 months, and pledged Wednesday to work with President-elect Donald Trump to boost the US economy.
Trump first made the announcement at his luxury Florida resort Mar-a-Lago, telling reporters that Sprint called him with the news.
“We just had some very good news,” he said. “Because of what is happening and the spirit and the hope, I was just called by the head people at Sprint and they are going to be bringing 5,000 jobs back to the United States. They have taken them from other countries.”
Sprint, owned mostly by Japan’s SoftBank, which already has announced a commitment to major US investments, released its statement nearly an hour later, clarifying that not all the jobs would come from overseas.
Sprint announced a “commitment to create or bring back to America 5,000 jobs,” although it has no specific plans yet. The company expects to fulfill its commitment by the end of its 2017 fiscal year, which ends in March 2018.
“We are excited to work with President-elect Trump and his administration to do our part to drive economic growth and create jobs in the US,” Sprint CEO Marcelo Claure said in a statement.
“We believe it is critical for business and government to partner together to create more job opportunities in the US and ensure prosperity for all Americans.”
The Sprint announcement gave Trump another chance to claim credit for job creation, and he referenced the December 19 announcement by satellite broadband firm OneWeb for 3,000 jobs over the next four years.
Those jobs are as a result of a $1.2 billion investment from SoftBank, whose chief executive Masayoshi Son met Trump earlier this month and pledged to invest $50 billion in the US economy and create 50,000 jobs.
In 2013, SoftBank paid $22 billion for 80 percent of Sprint.
“That’s a new company. And it was done through Masa. A terrific guy,” Trump said. “We appreciate it.”
Sprint said it will “begin discussions immediately with its business partners, states and cities to determine the right locations in the US to create these jobs.”
Sprint, which announced 2,500 layoffs in January, mostly in customer care, said it expects the new jobs “will support a variety of functions across the organization, including its customer care and sales teams.”
YouTube Suspends Trump Channel
YouTube Suspends Trump Channel
Google-owned YouTube on Tuesday temporarily suspended President Donald Trump’s channel and removed a video for violating its policy against inciting violence, joining other social media platforms in banning his accounts after last week’s Capitol riot.
Trump’s access to the social media platforms he has used as a megaphone during his presidency has been largely cut off since a violent mob of his supporters stormed the Capitol in Washington DC last week.
Operators say the embittered leader could use his accounts to foment more unrest in the run-up to President-elect Joe Biden’s inauguration.
“In light of concerns about the ongoing potential for violence, we removed new content uploaded to Donald J. Trump’s channel for violating our policies,” YouTube said in a statement.
The channel is now “temporarily prevented from uploading new content for a ‘minimum’ of 7 days,” the statement read.
The video-sharing platform also said it will be “indefinitely disabling comments” on Trump’s channel because of safety concerns.
Facebook last week suspended Trump’s Facebook and Instagram accounts following the violent invasion of the US Capitol, which temporarily disrupted the certification of Biden’s election victory.
In announcing the suspension last week, Facebook chief Mark Zuckerberg said Trump used the platform to incite violent and was concerned he would continue to do so.
Twitter went a step further by deleting Trump’s account, depriving him of his favorite platform. It was already marking his tweets disputing the election outcome with warnings.
The company also deleted more than 70,000 accounts linked to the bizarre QAnon conspiracy theory, which claims, without any evidence, that Trump is waging a secret war against a global cabal of satanist liberals.
Trump also was hit with suspensions by services like Snapchat and Twitch.
The president’s YouTube account has amassed 2.77 million subscribers.
The home page of the Trump channel featured a month-old video of Trump casting doubt on the voting process in November’s presidential election, and had logged some 5.8 million views.
On Tuesday, an activist group called on YouTube to join other platforms in dumping Trump’s accounts, threatening an advertising boycott campaign.
Analysts Predict 1,137% Earnings Per Share Growth for Shopify’s Full Year 2020
While the pandemic has devastated countless businesses, it has provided a major boon for eCommerce platform Shopify.
Shopify’s stock rallied by 169.9% in 2020 compared to the industry’s 26.6% growth. As of mid-December 2020, according to the research data analyzed and published by Finnish site Sijoitusrahastot, it had a 90 RS rating, which means that it had outperformed 90% of stocks during the year.
Based on the Zacks Consensus Estimate, its Q4 earnings per share (EPS) are set to jump by 188.37% to $1.24 while its sales will grow by 78% to $899.2 million. For the full year 2020, analysts project a massive 1,137% jump for the Shopify EPS.
Shopify Merchants Sell Over $5.1 Billion on Black Friday, Cyber Monday
Since Shopify went public in 2015, its stock has risen over 40-fold to more than $1,200 at the end of December 2020. Between 2016 and 2019, it skyrocketed by over 1,400%.
The eCommerce platform’s earnings for Q1 to Q3 2020 grew at an average of 552%. That was well above the 101% three-year average. In Q3 2020, its revenue nearly doubled from $390.6 million to $767.4 million.
Earnings in Q3 2020 rose from a net loss of 29 cents to $1.13 per share. Gross Merchandise Volume (GMV) soared by 109% reaching $30.9 billion, compared to 46% in Q1 2020 and 119% in Q2 2020. For the first nine months of 2020, there was a revenue increase of 82%.
For the first time, Shopify’s GMV surpassed that of eBay in Q2 2020, doing it again in Q3 2020. It claims to have a 6% share of the US market, higher than eBay’s but lower than Amazon’s 37%.
During the Black Friday Cyber Monday weekend, merchants on the Shopify platform sold goods worth $5.1 billion. Compared to 2019, this marked a 76% uptick and set a new record. Comparatively, independent businesses on Amazon sold goods worth $4.8 billion. The number of buyers on Shopify increased by 50% year-over-year (YoY) to 44 million during that weekend.
Global Digital Payments Market to Grow by 23.7% in 2020 to $4.9 Trillion
While it was already under way prior to the pandemic, the global shift to digital payments has been positively affected by the crisis.
According to the research data analyzed and published by Finnish website Sijoitusrahastot, the global digital payments market grew by 21% YoY in transaction value during H1 2020. Statista projects that the market’s total transaction value will grow by 23.7% year-over-year (YoY) in 2020 to reach $4.93 trillion. The number of users is also set to increase by 10.1% YoY to reach 3.47 billion.
Asia’s Digital Payments Market to Reach $2.88 Trillion in 2020
In the period between 2020 and 2024, the global digital payments will grow at a 13.4% compound annual growth rate (CAGR) to reach $8.17 trillion by 2024. The market’s top segment is digital commerce, estimated to grow at 4.8% YoY reach $2.93 trillion in 2020. By 2024, it is set to grow to $4.11 trillion, growing at a CAGR of 8.9%.
China will take the lead in digital payments, growing to $2.31 trillion, as well as in digital commerce, reaching $1.17 trillion in 2020. For Asia as a whole, digital payments will reach $2.88 trillion in 2020 as per a Statista report.
According to McKinsey, Asia generated $900 billion in 2019 as payment revenue, almost half the global total. Between 2018 and 2019, digital payments in Asia Pacific grew by 24.7%. Comparatively, the growth rate was 14.1% in the global market, 12.2% in Europe and 5.6% in North America.
China has a dominant role in the market, thanks to mobile payments. Based on a Finextra report, 70% of China’s consumers use mobile wallets regularly. It estimates that in 2020, 80% of global mobile wallet revenue will come from China.
Capgemini projects that in 2020, mobile payments in APAC will grow at 13.9% YoY to reach $277.5 billion. In contrast, the figure will be $229.1 billion in Europe, growing at 6.2% YoY and $184.8 billion in North America, growing at 3.0%.
Finance4 weeks ago
Central Bank Closes 42 Microfinance Banks
Finance4 weeks ago
Zenith Bank Invests Over N12 Billion in Targeted Interventions, Posts N178 Billion PAT
Cryptocurrency4 weeks ago
US Securities and Exchange Commission Goes After Ripple(XRP)
Crude Oil4 weeks ago
Brent Crude Oil Dropped 1.9 Percent Amid Fast-spreading New Coronavirus
News2 weeks ago
Heartbroken American Mistress Displays Dangote’s Buttocks in a Viral Video
News4 weeks ago
Nigeria Prefers NIN Linked SIM Cards to Health as Crowd Gathers at NIMC Enrolment Centres
Crude Oil4 weeks ago
Seplat, Waltersmith Signed Crude Oil Purchase Agreement
News3 weeks ago
FCMB Group MD Links to Death of Tunde Thomas, Husband of Married Staff He Fathered Her Kids