Tag Archive : Surges

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Charee Mobley, who teaches middle school in Fort Worth, Texas, had just $166 to get herself and her 17-year-old daughter through the last two weeks of August.

But that money disappeared when Ms. Mobley, 37, ran into an issue with Square’s Cash App, an instant payments app that she was using in the coronavirus pandemic to pay her bills and do her banking.

After seeing an errant online shopping charge on her Cash App, Ms. Mobley called what she thought was a help line for it. But the line had been set up by someone who asked her to download some software, which then took control of the app and drained her account.

“I didn’t have gas money and I couldn’t pay my daughter’s senior dues,” Ms. Mobley said. “We basically just had to stick it out until I got paid the following week.”

In the pandemic, people have flocked

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a group of people in a store: An employee of grocery delivery service Amazon Fresh between two rows of shelves. Monika Skolimowska/picture alliance via Getty Images


© Provided by Business Insider
An employee of grocery delivery service Amazon Fresh between two rows of shelves. Monika Skolimowska/picture alliance via Getty Images

  • Amazon has created a new tool to help customers find a grocery delivery slot when demand is surging.
  • Amazon’s vice president of grocery, Stephenie Landry, told Recode this week that the company added the option to sign up to be notified when a delivery slot is available. When the space opens up, customers will have two hours to place their order.
  • The new feature will be made available to Amazon Fresh and Whole Foods shoppers in places where Amazon sees a spike in demand. 
  • Amazon and other grocery delivery services saw a major increase in online orders earlier this year when the coronavirus outbreak hit the US. Frustrated shoppers reported refreshing stores’ websites late at night to find open time slots.
  • Visit Business Insider’s homepage for
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(Bloomberg) —

Tata Consultancy Services Ltd. surged to a record high after the Indian giant announced a share buyback of as much as 160 billion rupees ($2.2 billion) and said technology spending was recovering faster than anticipated.

Asia’s largest software outsourcing provider reported a larger-than-expected 7% fall in net income to 74.7 billion rupees in the September quarter. But Chief Executive Officer Rajesh Gopinathan said IT budgets were bouncing back and growth should accelerate as clients spend on digital services such as cloud migration, security and work tools to trim costs and adjust to a post-pandemic environment.



a man wearing a suit and tie: Tata Consultancy Services CEO Rajesh Gopinathan Presents First Earnings Since Mistry Court Ruling


© Bloomberg
Tata Consultancy Services CEO Rajesh Gopinathan Presents First Earnings Since Mistry Court Ruling

Like Infosys Ltd. and Wipro Ltd., TCS is struggling to serve global financial services giants and corporate clients after a nationwide lockdown forced hundreds of thousands of their employees to work from home. But spending is loosening as

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(Bloomberg) — Daisuke Sasaki has seen his cloud-based accounting company’s valuation swell to $3.7 billion despite having yet to show a profit, but he’s not letting that pressure him.

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Shares of Freee K.K. have quadrupled since going public on the Tokyo Stock Exchange in December, along with rising demand for cloud services amid the remote-working trend.

“We don’t have a set timeframe for when the company will swing to profits,” Sasaki, founder and chief executive of Freee, said in an interview on Aug. 17. “Our business is about subscription.”

The Tokyo-based firm’s stock is one of the many technology names that have surged during Covid-19, fueled by investor euphoria over stay-at-home and DIY themes. While the pandemic roiled the outlook for companies around the world, U.S. accounting software giant Intuit Inc. beat recent earnings estimates, helped by better-than-expected growth for its cloud-based service for small businesses.



chart: Shares of cloud accounting firm have nearly quadrupled since IPO


© Bloomberg

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(Bloomberg) — Daisuke Sasaki has seen his cloud-based accounting company’s valuation swell to $3.7 billion despite having yet to show a profit, but he’s not letting that pressure him.

Loading...

Load Error

Shares of Freee K.K. have quadrupled since going public on the Tokyo Stock Exchange in December, along with rising demand for cloud services amid the remote-working trend.

“We don’t have a set timeframe for when the company will swing to profits,” Sasaki, founder and chief executive of Freee, said in an interview on Aug. 17. “Our business is about subscription.”

The Tokyo-based firm’s stock is one of the many technology names that have surged during Covid-19, fueled by investor euphoria over stay-at-home and DIY themes. While the pandemic roiled the outlook for companies around the world, U.S. accounting software giant Intuit Inc. beat recent earnings estimates, helped by better-than-expected growth for its cloud-based service for small businesses.



chart: Shares of cloud accounting firm have nearly quadrupled since IPO


© Bloomberg

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