Tagged With Business

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Uber cofounder and ex-CEO Travis Kalanick is close to selling "nearly a third" of his equity in the company, Reuters reported late Thursday. Kalanick has so far retained his 10 per cent ownership of the company, even after resigning from his position as CEO in June. Reuters reports the sale, the first time Kalanick has ever sold his own stock, will earn Kalanick $US1.4 ($2) billion.

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Amazon is still struggling to get its automated grocery store, Amazon Go, to function right. Who knew it would be so hard to build a brick-and-mortar store with sensors and gadgets instead of cashiers? But in a recent test of the company's experimental Seattle store, some of Jeff Bezos' employees got a little weird. They dressed up in Pikachu costumes to go shopping.

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Jeff Bezos and friends are on a bit of a spending spree. Amazon just announced that it's looking to drop a cool $US5 billion on a "second headquarters" that will employ as many as 50,000 workers. In characteristically splashy fashion, the company also announced that cities across America will get to bid on the project. We can only assume this will be a competition for the biggest tax breaks.

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Back in the halcyon days of 2013, you could buy a brand new, handmade Vertu phone with an underpowered processor and an outdated operating system for $US10,000 ($12,686). But today, my friend, Vertu is drowning in debt and auctioning off these hilarious relics of excess with bids starting at a few hundred bucks. It's ironic because that's how much Vertu should have charged in the first place.

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Alaska Airlines announced on Wednesday that it will retire the Virgin America brand sometime in 2019. The Seattle-based airline bought Virgin America last year for $US2.6 ($3) billion with the hope of expanding beyond the Pacific Northwest. Richard Branson, founder of Virgin America, apparently cried when he heard the news. Why? Well, it means he'll be losing money.

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Five innovative Indigenous startups have been selected to attend a "mini" four-week business-accelerator program at The Capital, the recently opened dedicated venue in Brisbane's CBD for digital technology startups and entrepreneurs.

The program is offered by Barayamal, a new not-for-profit business, which will run Australia's first Indigenous accelerator program from mid-2017.

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Snapchat's parent company, Snap Inc., is preparing for an initial public offering that is expected to value the company at $US25 billion ($32.9 billion) or more, according to a Wall Street Journal report. The newspaper says the company is already filling out the paperwork. But there's there is no guarantee that a share sale will happen on the timeframe, or that the valuation will remain the same by that date.

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It's finally happened: There are more people snapping than there are tweeting. According to a new report from Bloomberg, Snapchat has 150 million daily active users, compared to Twitter's less than 140 million users. Ouch.

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Video: Budget airlines like Jetstar and Tiger Airways in Australia, JetBlue and Southwest in the United States, and Ryanair and Easy Jet in Europe, are often significantly cheaper to fly compared to legacy airlines like Qantas and Virgin. How is this possible? Flying is expensive! The simple answer is that budget airlines simplify as many costs as possible.

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You might think businesses in Australia fear data breaches caused by offshore hackers, malware or outright scams. But it turns out most view human error as a larger threat to information security than deliberate theft or sabotage from a third party.

Human error or accidental loss by an employee is identified as the biggest source of a potential data breach. Despite this, almost a third of small and medium sized businesses and five per cent of larger organisations said they had either never trained their staff on information security policies or didn't have these policies in place.