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Unrated bond issues double in Europe

August 1, 2013 5:11 pm

Unrated bond issues double in Europe

By Christopher Thompson

The number of European companies without investment ratings tapping capital markets for funding has doubled as investors throw caution to the wind in their hunt for yield.

Bond issuance by unrated companies -–or those without investment ratings which measure credit quality – has totalled about €108bn since the beginning of 2010, driven by yield-hungry investors, low interest rates and a dearth of bank finance, according to research by Fitch. Read more of this post

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With An Astounding $6 Billion Valuation, ServiceNow Has Become ‘The Next Salesforce.com’

With An Astounding $6 Billion Valuation, ServiceNow Has Become ‘The Next Salesforce.com’

JULIE BORT AUG. 2, 2013, 4:32 PM 2,648

It’s been over a year since ServiceNow’s IPO practically saved the post-Facebook IPO market single-handedly. In June 2012, with an opening share price of $18, the company had a jaw-dropping valuation of over $2 billion. (It was originally priced at $17 the night before the IPO.) And it and hadn’t even hit annual revenues of $100 million. Fast forward to this week: ServiceNow’s shares are trading at about $45, giving it a nearly $6 billion valuation. That makes it the fifth most valuable company in Bessemer Venture Partners new “Cloud Index” that tracks the 30 biggest software-as-a-service public cloud companies. At the time of its IPO, ServiceNow, which offers cloud apps that automate the help desk function for enterprises, was considered proof that the tech industry was in another bubble. But, it turns out, it was proof that ServiceNow is the next Salesforce.com, CEO Frank Slootman told Business Insider. Read more of this post

One Of The World’s Biggest Mobile Ad Companies Is In Huge Trouble And Has Stopped Paying Its Bills

One Of The World’s Biggest Mobile Ad Companies Is In Huge Trouble And Has Stopped Paying Its Bills

JIM EDWARDS AUG. 2, 2013, 10:46 AM 5,244 2

We first told you that Velti, the little-known but relatively massive mobile ad company, was in trouble back in June, when we demoted CEO Alex Moukas to 10th place on our annual ranking of the most important people in mobile advertising. The reason? The company cut about 300 of its 1,100+ jobs after Q1 2013 revenue collapsed 20% to $41 million. Velti is in the middle of a restructuring. Its stock, which once traded above $10, is now at $1.08. Its COO, Christos Kaskavelis, has been terminated. The company’s market cap is now less than its projected annual revenues. Read more of this post

The New York Times Company did the world of journalism a big favor today by finally disclosing the exact revenues of its digital business.

IT’S OFFICIAL: We Never Need To Worry About The Future Of Journalism Again!

HENRY BLODGET AUG. 1, 2013, 6:15 PM 10,620 24

The New York Times Company did the world of journalism a big favor today. The company finally disclosed the exact revenues of its digital business. The numbers were impressive. And they made clear that no one ever needs to fret about the future of journalism again. Specifically, the New York Times reported that the revenue of its digital business is now about $360 million a year. That’s composed of about $200 million of advertising revenue, which is basically flat, and another $150 million of digital subscription revenue, which is growing nicely. Assuming the digital subscription revenue continues to grow as the company rolls out new subscription products, which it will start to do next April, the New York Times Company should soon have a $400 million digital business. Why does that mean we never have to worry about the future of journalism again? Because a $400 million digital business is a healthy business, one that will support a large, talented newsroom. Even if the New York Times’ print paper, which still generates most of the company’s overall revenue of about $2 billion a year, were to shut down tomorrow, the company would still be able to fund an excellent newsroom. Read more of this post

Movie fans who were intrigued by director Peter Jackson’s use of high frame rates in “The Hobbit” are now getting a chance to see the superclear format online.

High frame rates debut online with special player

BY RYAN NAKASHIMA

AP

AUG 2, 2013

BURBANK, CALIFORNIA – Movie fans who were intrigued by director Peter Jackson’s use of high frame rates in “The Hobbit” are now getting a chance to see the superclear format online. The second season of the YouTube Web series “Video Game High School” is being released online at 48 frames per second (fps), double the 24 fps that has been standard in movie theaters for the past century. The season’s second episode debuted Thursday after the premiere episode attracted nearly 2 million viewers. Online video programming is growing fast as major networks and small upstarts go after young audiences who increasingly watch shows on laptops, tablet computers and mobile phones. Laying claim to the high-frame-rate niche could help “Video Game High School” stand out in a crowded field. By capturing moving objects on camera at higher frame rates, filmmakers are able to cut down on blurriness because the camera’s shutter opens and closes much faster. That reduces the amount of time that an object moves across an open lens and gives each image, or frame, more clarity. The experiment is partly a way to explore how to use high frame rates creatively while also pioneering a new business model online. Read more of this post

Why Chinese Stocks Perform Poorly? They had cooked books before IPO, often with the assistance of local governments

Why Chinese Stocks Perform Poorly?

08-02 17:56 Caijing

Companies’ engagement in bad business practices and high inflation levels are among the reasons.

Summary:
(1) They had cooked books before IPO, often with the assistance of local governments,
(2) They engaged in bad business practices,
(3) They sold too many new shares,
(4) They suffered cost explosion as inflation surged. Read more of this post

America’s Engineering Hubs: The Cities With The Greatest Capacity For Innovation

America’s Engineering Hubs: The Cities With The Greatest Capacity For Innovation

By Joel Kotkin

Created 07/31/2013 – 12:01

America has always been a nation of tinkerers. Our Founding Fathers, notes author Alec Foege, [1] were innovators in areas ranging from agriculture (George Washington, Thomas Jefferson) and electricity (Benjamin Franklin) to the swivel chair (Jefferson).

Engineering advances drove America’s quest for industrial supremacy in the 19th century, many of them borrowed (sometimes illegally) from the then very resourceful British Isles. By the early 19th century, the U.S. was producing its own major inventions, including the steamboat and cotton gin. By the end of that century, the U.S. was clearly on the way to industrial preeminence. The growth of engineering schools — MIT, the Case Institute, Stevens Institute of Technology, as well as departments at the great land grant universities — generated a steady supply of engineers. For much of the last 70 years, America, has been the world’s leading center of engineering excellence, dominating markets from steel and cars to energy and aerospace. Read more of this post

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