Posts Tagged ‘Money’
This isc ‘The Injustie League of North Korea‘, a series of North Korean bills with the faces replaced with Justice League villains by artist Aslan Malik (who did the US versions previously). I think they’re supposed to make some sort of political statement, but I can’t quite put my finger on it. My tongue, yes, but only because I like to know what everything tastes like. Money tastes like bus stop!
Thanks to supervillain wannabe Terry, who’s plans for world domination were thwarted when he lost his baseman lair to a ramen-related house fire.
Immigrants Pay Lower Fees to Send Money Home, Helping to Ease Poverty
Now they contend with dozens of international competitors like Xoom and Ria. Western Union's share of the global remittance market has dropped to about 15 percent from around 75 percent in the late 1990s, while Money Gram's market share has declined …
Read more on New York Times
Social Media in the Era of Terrorism
Combine that with the case of a small village in Wenchi-Ethiopia, where 20 Motorola Xoom tablets were dropped in a society without basic education. Shortly after delivery one child figured out how to turn on the tablets. Within five days each child was …
Read more on Foreign Policy Journal
Benzinga's Top Initiations
Susquehanna initiated coverage on shares of Xoom (NASDAQ: XOOM) with a “neutral” rating. The target price for Xoom is set to $ 18. Xoom's stock closed at $ 18.34 yesterday. Analysts at SunTrust initiated coverage on shares of Eaton Corporation plc (NYSE: …
Read more on Benzinga
Most of Apple's $ 145 Billion in cash is parked overseas, so issuing debt allows the company to avoid the tax hit that money would be subject to if brought back to the U.S.
Apple CEO Tim Cook waves at the end of Apple Inc.'s iPhone media event in San Francisco, California September 12, 2012.
Via: Beck Diefenbach / Reuters
The most interesting part of Apple’s earnings report wasn't its $ 43.6 billion in revenue or $ 9.5 billion in net profit. Nor was it the 37.4 million iPhones and 19.5 million iPads sold over the last three months. It was the fact that, despite having just under $ 145 billion in cash and short-term marketable securities on its balance sheet, the company plans to borrow money by issuing debt for the first time in its history.
Apple did not specify how much it planned to borrow, saying only that it “expects to announce more details about this in the near future.” Sure, the company needs to find money to fund the extra $ 50 billion it plans to spend on share buybacks by 2015, which at a total of $ 60 billion makes it the largest single share repurchase program in corporate history. It also needs more money for its 15 percent dividend increase to $ 3.05 per share.
But taken together those moves only amount to $ 100 billion in extra cash between now and 2015, which Apple can easily fund from its normal business operations–cash flow from operations for the second quarter alone totaled $ 12.5 billion.
The real reason Apple is borrowing money is because more than two-thirds of its $ 145 billion cash pile resides overseas, and bringing it back to the U.S., known as “repatriating,” would subject the company to a huge tax hit. According to U.S. tax law, income companies earn from operations overseas aren't subject to taxes provided they remain overseas.
“Seventy percent of Apple's cash is overseas, and would be taxed if they brought it home to buyback stock,” said BTIG analyst Walter Piecyk.
Apple isn't alone in wanting to keep its cash overseas to avoid taxes. A study of 60 U.S. companies by the Wall Street Journal in March found that together they kept a total of $ 166 billion offshore last year, or more than 40 percent of their annual profits. The situation is currently a hot topic of debate in economic and fiscal policy circles, with some arguing the tax code punishes companies for doing well and others saying corporations are using sophisticated financial maneuvering to avoid fulfilling their tax liability.
“There's probably some truth to the suggestion they've made that they want to borrow cheap money and adjust their capital structure,” said Rob Wilson, founder and president of Tiburon Research Group in San Francisco. “But, I suspect that a major reason they're borrowing is the fact that a large portion of their cash is parked overseas.”
In September, Apple had only $ 40.4 billion in cash overseas, which it estimated at the time would result in a tax hit of $ 13.8 billion at a roughly 35 percent tax rate if brought back to the U.S. It now has $ 102 billion in cash overseas, which would equate to just over $ 35 billion in taxes at the same implied tax rate.
Small wonder then that Apple told analysts that going forward it expects its “foreign cash and domestic borrowing to grow.”
Hon Hai Accuracy, additionally called Foxconn Innovation, has reported its incomes for the year and notched a net income of $ 3.2 billion according to the Financial Times. The majority of familiar as the production muscle behind Apple’s iPhones, iPads and so forth, the Taiwan-based producer beat expert predictions on high margins for those products. Its subsidiary, Foxconn International Holdings, is the world’s biggest cellular phone maker and produces gadgets for business including Nokia and Motorola, but suffered a bottom line of $ 316.4 million. As a result, some are worried about Foxconn’s heavy dependence on Apple as a consumer going forward. Still, the company is supposedly continuing a strategy to enhance upright integration, by producing the parts for gadgets and not just putting them together– we’ll see if anybody notices modifications in the end product anytime soon.
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Ah, Goophone. The company that made its name keepin’ it real artificial with strangely similar duplicates of various other business’ devices, often before the originals have even introduced. It’s plainly not dropping that tradition anytime soon, as it simply previewed the i5S, an effort to preempt the supposed iPhone 5S prior to even the report mill has actually produced anything tangible. As you ‘d practically anticipate, it’s really a not-very-subtle imitation of the current iPhone 5 body and software that does its finest to mask using Android (this time Jelly Grain) instead of iOS. Do not think that Goophone has learned any even more about shadowing Apple on the technology front, nonetheless. The i5S is running hardware that would often be trounced by a 2011-era iPhone 4S, including a dual-core 1GHz MediaTek processor, 512MB of RAM, an 854 x 480 screen and a 5-megapixel rear camera. The firm is mostly counting on absurdly low pricing to offset the sleight-of-hand– at its $ 150 launch cost, the i5S expenses a fraction of the genuine iPhone 5′s rate while undercutting the older yet in some way more sophisticated Goophone i5. Catch a video trial of the astonishing facsimile after the break.
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Just as Sharp offered a slightly more enthusiastic glance at its balance slab this morning, so too does Panasonic have something worth commemorating: a quarterly net profit of 61.4 billion yen ($ 667 million) in the last trio of months of 2012. That’s not big for a business of this stature, naturally, and it’s additionally real that underlying sales slipped by 8 percent, with the step to benefit mostly coming from the weaker yen and previous cost-cutting workouts. However, compared with the minimal $ 164 million it made at the start of 2012, and the ego-crushing $ 9.7 million loss it suffered in its preceding financial year, no one because big HQ is likely to be grumbling.
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Xoom Launches “StatusTrak” – a New Online Tracking Service for Money …
Xoom Corporation, a global online money transfer provider, has launched StatusTrak, a new tracking center that provides Xoom customers a variety of ways to track their money transfers (https://www.xoom.com/track-transfer). StatusTrak's key feature is …
Read more on Virtual-Strategy Magazine (press release)
Apple iPad Mini Vs Samsung Galaxy Tab 2 Vs Motorola XOOM : The Best Sprint …
To make your holiday season more enjoyable Sprint has brought you a deal. The third largest Phone carrier in the US has decided to rip off $ 100 from all LTE Tablets. The Tablets which have made to this mouth watering offer are Apple iPad ($ 529.99 and …
Read more on Tech Thirsty
Ethiopian kids teach themselves with tablets
The fastest learner — and the first to turn on one of the Motorola Xoom tablets when they arrived — is 8-year-old Kelbesa Negusse. The device's camera was disabled to save memory, yet within weeks Kelbesa had figured out its workings and made the …
Read more on Washington Post
RIM might be struggling for market share right here in the United States, but the BlackBerry name still indulges in rather a bit of appeal in other places in the globe. Take Indonesia for instance, where the company will launch BBM Cash, a transactional service that’ll enable money transfers in between BlackBerry owners. Apparently BBM is already a preferred way to establish peer-to-peer deals in the Southeast Oriental country, so the service basically closes the loop. With Android usage on the rise over there– around 52 percent market share according to a current IDC report– RIM is likely attempting anything it can to keep its stronghold. We’re not sure when exactly BBM Money will go live, though RIM has stated it’s to come “shortly,” possibly along with the launch of BlackBerry 10 in 2013.
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Google has actually simply snapped up BufferBox, a Waterloo, Ontario-based fledgling that offers short-term lockers for online acquisitions just like the ones lately set up by Amazon. Instead of 7-Elevens and RadioShacks however, the reasonably young startup has only just began a deal to put in parcel kiosks in Canada’s Metrolinx GO Transit stations. The Mountain View company wishes to keep BufferBox alive with the acquisition, with plans for 100 kiosks in Greater Toronto and Hamilton in the next year. Of course, we can’t assist but think this could all be part of Google’s master plan for a rumored same-day delivery service that may make Amazon a touch stressed. Hopefully this suggests future Nexus shipments will be a just little faster, eh?
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