Finance

How Web 3.0 Creates Value for Users, Not Platforms

Bloomberg

Perelman Selling Almost Everything as Pandemic Roils His Empire

(Bloomberg) — Bit by bit, billionaire Ronald O. Perelman is parting with his treasures.His Gulfstream 650 is on the market. So is his 257-foot yacht. Movers hauled crates of art from his Upper East Side townhouse after he struck a deal with Sotheby’s to sell hundreds of millions of dollars of works.He’s unloaded his stake in Humvee-maker AM General, sold a flavorings company that he’d owned for decades and hired banks to find buyers for stock he holds in other companies.What in the world is going on with Ron Perelman? His exploits on and off Wall Street have been tabloid fare in New York since the go-go 1980s. But now, at an age when most fellow billionaires are kicking back, Perelman, 77, is facing a range of financial challenges, most of all at Revlon Inc., his cosmetics giant.Once touted as

Read More

Apple Fitness+ doesn’t terrify the founder of this Peloton rival — here’s why

If two of the hottest names in at-home fitness are worried about Apple Fitness+, they sure aren’t showing the public. That says a lot about the total addressable market for at-home fitness in the post COVID-19 pandemic world — leaving the door open for many players to compete effectively.

Earlier this week, Apple took the wraps off its first fitness experiences designed for the Apple Watch and iPhone. Launching later this year, Apple Fitness+ will offer studio-style workouts that focus on popular training methods such as cycling, treadmill running, rowing, high intensity internal, yoga, dance, and core.

“We do welcome Apple’s entry into the space. We see it is as further validation of the shift to working out from home,” Tonal founder Aly Orady told Yahoo Finance’s The First Trade. Tonal, a Peloton rival, is a connected strength training platform.

In typical Apple services form, it will make the pricing

Read More

Valentino and Roberto Cavalli Make Top-Level Changes + More

Sept. 18, 2020: Valentino‘s general manager for the Middle East region has been promoted to the role of CEO of the Americas. Laurent Bergamo, whose appointment is effective immediately, will report to chief commercial officer Marco Giacometti. As part of his responsibilities, Bergamo will supervise the development of the luxury fashion house’s retail, wholesale and online distribution networks in the United States, Canada and Mexico. He has been replaced in his former post by Simone Bertolini.

Sept. 18, 2020: Gian Giacomo Ferraris is exiting his post as CEO of Roberto Cavalli. According to FN’s sister publication WWD, the exec announced the news to his team “with mixed feelings, which include some satisfaction, a bit of sadness and a few regrets.” Ferraris joined the company from Versace in 2016, succeeding Roberto Semerari. He departs the company at the end of the year.

More from Footwear News

Sept.

Read More

EU to introduce crypto-assets regime by 2024, EU documents say

By Huw Jones

LONDON (Reuters) – The European Union will introduce new rules within four years to make cross-border payments quicker and cheaper through the use of blockchain and crypto assets like stablecoins, two EU documents showed.

The European Commission is due to set out its strategy for encouraging greater use of digital finance at a time when 78% of payments in the euro zone are in cash. It also wants a rapid shift to “instant” payments generally as pandemic lockdowns showed the growing role of cashless payments.

The EU executive will present a draft law to clarify how existing rules apply to crypto assets and set out new rules where there are gaps, the documents said.

“By 2024, the EU should put in place a comprehensive framework enabling the uptake of distributed ledger technology (DLT) and crypto-assets in the financial sector,” the documents said. “It should also address the

Read More

Nation’s largest school system ‘in an impossible situation’ amid the coronavirus pandemic

This post has been updated with information from a New York City Department of Education employee.

It’s been a rough week for the millions of children, parents, educators, and city officials involved in the reopening of New York City schools. 

After grappling with a shortage of teachers and buildings that are not ventilated well enough to deter transmission of coronavirus, the nation’s largest school district again delayed the start of in-person learning.

“The [New York City] Department of Education has put P.S. 125 and many other schools in the city in an impossible situation,” Tamara Tucker, president of the parents association at P.S. 125 in Morningside Heights, which serves students from pre-kindergarten through fifth grade, told Yahoo Finance. “And I don’t want to penalize the schools for being hamstrung like that.” 

The city provided parents with three main options for students starting the fall school year: in-person, fully virtual, or

Read More

The Best Workplaces for Women are expanding the turf for women in finance

Finance has typically not been welcoming to women. But the “boys club” of yesterday is changing. A sign of the times: Financial firms rule this year’s list of Best Workplaces for Women. Nine organizations in financial services and insurance earned a spot in the top 20—triple the number on last year’s list.

What’s behind the shift? One reason is that the industry is evolving, with the value of financial advice changing. Almost nowhere is digital transformation shaking up an industry as it is in finance. With a finger swipe across a smartphone, investors can access their accounts and see how their portfolios are doing.

But women are adding value in ways that “robo-advisers” cannot compute.

“In the past, the value of financial services or the value of a financial adviser was in constructing a portfolio or trading stocks,” said Kristin Johnson, chief human resources officer at Edward Jones, No. 5

Read More

British travellers can now visit just 12 destinations without restrictions

amalfi coast - iStock
amalfi coast – iStock

Analysis by Telegraph Travel has revealed that Britons can now visit just 12 places without restrictions following the removal of Slovenia and Guadeloupe from the quarantine-free list.

Holidaymakers can now travel to Italy, Germany, Turkey and the majority of Greece without having to self-isolate on arrival or return.

Less popular tourist destinations such as San Marino, Gibraltar, Liechtenstein and Greenland are also open for business, as are Sweden, Denmark, Poland and Slovakia.

A further 12 destinations are feasible options, requiring Britons to show evidence of a negative PCR test, or else take submit to being tested on arrival.

These include Madeira, the Azores and Cyprus, alongside several Caribbean countries including Barbados, Bermuda and St Lucia.

The rest of the world, including new ‘travel corridors’ Thailand and Singapore, is not an option for ordinary holidaymakers, with many countries keeping their borders closed to commercial travel while the

Read More

Labour, Conservatives and Liberal Democrats forced to hold e-conferences due to coronavirus pandemic

It’s party conference time – but not as we know and love it (and often hated it, too).

Gone are the three weeks of plotting and posturing in big halls, whispered briefings over tepid food, grazing on sausage rolls at fringes and rounding each day with liver-destroying receptions.

This year, thanks to coronavirus, it’s all online. Welcome to the e-conferences, an event that everyone can attend but, frankly, may prove tame since the best action usually takes place not on stage but in bars, corridors and nearby kebab houses.

For the control freaks at No 10 or Victoria Street it is a dream come true – a chance for ultimate message discipline without MPs or members. No chance of it being derailed by an unauthorised 3am reshuffle briefing in the Radisson Hotel bar.

They’re doing their best to recreate some of the fun.

Labour is staging a quiz night on

Read More

Cash-strapped Trump campaign awaits a bailout from big donors

Republican Party megadonors are racing to bail out President Donald Trump’s cash-strapped reelection campaign, with a newly formed super PAC pouring a further$25 million into battleground states.

Preserve America is set to begin running a trio of TV commercials savaging Democrat Joe Biden as Republicans express growing alarm over the president’s absence from the airwaves. Trump — who went dark for part of August and has since cancelled advertising in key states — is being outspent more than 2-to-1 by Biden this week, according to the media tracking firm Advertising Analytics.

The outside group, which is expected to draw funding from prolific GOP givers including Las Vegas casino mogul Sheldon Adelson and Home Depot co-founder Bernie Marcus, is rushing to fill the void. Starting late this week, the super PAC will begin airing ads in seven states, including some where Trump is being badly outspent.

With Trump’s once-formidable cash advantage

Read More

30 Amazing Jobs That Didn’t Exist a Decade Ago

More than 55 million Americans have filed for unemployment since the beginning of the coronavirus pandemic, and even though the number of people filing has been decreasing since it peaked in April, people are still losing their jobs.

If you’re out of work, you might be considering a career change. There are a number of nontraditional jobs you might not even know about because they are so new — many of which you can do from home.

These jobs have cropped up over the past decade thanks to the founding of now-popular companies that didn’t even exist 10 years ago, like Bird scooters (founded in 2017), Instagram (launched in 2010) and Lyft (launched in 2012). See the new roles companies are hiring for.

Last updated: Sept. 17, 2020

Virtual Assistant

Virtual assistants perform the typical duties and services of an assistant, except instead of going into the office every day,

Read More