Tag: cut

Store Landlords Face a Battle For a Cut of Online Sales

If retailers want leases that reflect modern shopping habits, should they hand over a cut of online sales to their landlords?

Some property owners think this would be a fair trade off in the clamor for more flexible rent arrangements. So far, though, there is no good way to measure what landlords might be entitled to and tenants have few reasons to play ball.

From global fashion players like Zara and

H&M

to mom-and-pop stores, most retailers are demanding better terms from landlords as the Covid-19 pandemic slows sales, particularly offline. In the U.K., shop owners received only two-thirds of the quarterly rent they were owed in the three months to Sept. 22, according to data by Remit Consulting. More tenants now want to hand over a percentage of their sales as rent rather than a fixed monthly or quarterly fee, an arrangement already common in the U.S.

Most retailers

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Shell plans to cut up to 9,000 jobs in transition plan

LONDON (Reuters) – Royal Dutch Shell announced on Wednesday plans to cut up to 9,000 jobs, or over 10% of its workforce, as part of a major overhaul to shift the oil and gas giant to low-carbon energy.

FILE PHOTO: The logo of Royal Dutch Shell is seen at a petrol station in Sint-Pieters-Leeuw, Belgium January 30, 2019. REUTERS/Yves Herman/File Photo

Shell, which had 83,000 employees at the end of 2019, said that the reorganisation will lead to additional annual savings of around $2 billion to $2.5 billion by 2022 beyond cost cuts of $3 to $4 billion announced earlier this year.

Shell’s London-traded shares were down over 1% in early trade.

Last month it launched a broad review of its business aimed at cutting costs as it prepares to restructure its operations as part of the shift to low-carbon energy.

The Anglo-Dutch company said it expected to cut 7,000

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Google to Collect 30% Cut on In-App Purchases Starting in 2021

Taking a page out of Apple’s  (AAPL) – Get Report book, Google will begin more strictly enforcing rules that require developers to use Google’s  (GOOGL) – Get Report payment system for in-app purchases. 

Google announced the change on its Android developer blog on Monday, describing it as a clarification of Google’s existing rules on in-app purchases. Google had an existing policy requiring developers to use Google’s billing system, but the policy had been loosely enforced. 

“We’ve always required developers who distribute their apps on Play to use Google Play’s billing system if they offer in-app purchases of digital goods, and pay a service fee from a percentage of the purchase,” wrote Sameer Samat, VP of product management at Android. “We only collect a service fee if the developer charges users to download their app or they sell in-app digital items, and we think that is fair.

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‘How does a kid like this get cut?’ Saints’ Taysom Hill faces Packers team that let him go | Saints

The 2017 Green Bay Packers had begun trimming their roster to 53 players and Max McCaffrey didn’t make the cut, so he started exchanging goodbyes.

The wide receiver was in good spirits, though, after signing to the New Orleans Saints’ practice squad. As he continued to finish up his business in the locker room, one more person walked in. And McCaffrey had to thank him, because without this rookie quarterback, McCaffrey himself might not have found a landing spot.

“We start talking like, ‘Taysom, it’s been awesome, man. I’m heading out to New Orleans,’” McCaffrey said. “He’s like, ‘Oh wait. Me too.’”

McCaffrey and Taysom Hill hopped on the same flight to New Orleans, “which was hilarious,” McCaffrey says. “Just being in that locker room, we’re training all preseason, and both of us are thinking we’re off to some other place.”

McCaffrey ultimately ended up somewhere else, signing with Jacksonville

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Apple backs down on taking 30% cut of paid online events on Facebook

Apple backs down on taking 30% cut of paid online events on Facebook

Facebook

Facebook has temporarily shamed Apple out of taking a 30 percent cut of paid online events organized by small businesses and hosted on Facebook—things like cooking classes, workout sessions, and happy hours. Demand for these kinds of online events has soared during the COVID-19 pandemic.

Apple says that it has a longstanding policy that digital products must be purchased using Apple’s in-app payments system—and hence pay Apple’s 30 percent tax. In contrast, companies selling physical goods and services are not only allowed but required to use other payment methods (options here include Apple Pay, which doesn’t take such a big cut).

For example, an in-person cooking class is not a digital product, so a business selling cooking class tickets via an iPhone app wouldn’t have to give Apple a 30 percent cut. But if the same business offers a virtual cooking class, Apple considers that to be a digital

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Apple to Let Facebook Online Events Temporarily Avoid 30% Cut

Apple said that after the reprieve through the end of 2020, Facebook will be required to implement the in-app-purchase system. The iPhone maker noted that it gave the same exemption to Airbnb Inc. and ClassPass.

Facebook rolled out a live events feature in August that lets business owners charge people for live video streams such as a workout class. Facebook criticized Apple at the time for collecting a 30% fee on those transactions — the company’s standard fee for in-app purchases — claiming publicly that Apple was hurting small businesses impacted by the coronavirus.

“The App Store provides a great business opportunity for all developers, who use it to reach half a billion visitors each week across 175 countries,” an Apple spokesperson said. “To ensure every developer can create and grow a successful business, Apple maintains a clear, consistent set of guidelines that apply equally to everyone.”

Despite the temporary

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Visa, Mastercard called upon to cut ties with Palestinian terror funding

Mastercard and Visa have been warned to immediately cut ties with banks operating in the West Bank or risk legal liability for funding terror. They have also been advised not to provide services for a new bank being set up by the Palestinian Authority, as it is being created explicitly for the purpose of continued terror funding. Since its creation in 1994, the PA has paid monthly salaries to terrorists and the families of killed terrorists in so called ‘pay for slay’ payments. These payments to date have been processed through banks operating in the PA controlled territory. However, recent Israeli anti-terror legislation which applies to the PA-controlled areas in the West Bank prohibits, inter alia, any bank transaction that funds, promotes, assists, or rewards the performance of an act of terror.Following the law change in May, banks in the West Bank initially moved to close terrorists’ accounts to avoid
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The Latest: U of Delaware seeks to cut staff amid pandemic

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The pandemic led research firm Kantar to cut 10% of US staff

  • Market research and consulting firm Kantar plans to cut 10% of its US workforce, or around 300 people, Business Insider has learned.
  • A company spokesman said the planned cuts were a result of the pandemic, which has also led to layoffs at competitors like Nielsen.
  • Kantar is majority owned by Bain Capital, which bought it from ad holding company WPP in 2019.
  • Visit Business Insider’s homepage for more stories.

Global market research firm Kantar is planning to cut 10% of US staff as a result of the economic impact of the pandemic, North American CEO Reed Kundiff announced in a town hall meeting on Monday.

The cuts will impact about 300 people, sources with direct knowledge of the matter said. A Kantar spokesman acknowledged the coming cuts but wouldn’t confirm the scope.

“Like many companies, Kantar has felt the economic impact of the Covid-19 pandemic. We are making changes to

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Ralph Lauren to cut thousands of jobs and beef up online business

REUTERS: Luxury apparel maker Ralph Lauren Corp will cut 15per cent of its global workforce by the end of its fiscal year in a company-wide restructuring to lower costs and move more of its business online, it said on Tuesday.

The company had a total workforce of 24,900 as of March end and based on that, the plan could impact more than 3,700 jobs.

The COVID-19 health crisis has hammered demand for high-end handbags, apparel and accessories in retail stores, forcing luxury goods companies to slash costs and slow brick-and-mortar expansion plans.

However, their e-commerce sales have surged. Ralph Lauren said it would invest in digital platforms to support e-commerce operations, expand product personalization and add new features like augmented reality.

It will also move some human resource and planning systems to online cloud platforms, and streamline reporting lines.

“The changes happening in the world around us have

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