SEATTLE (AP) — A Seattle man has pleaded guilty to one count of wire fraud for carrying out a scheme to defraud several COVID-19 relief programs, according to federal prosecutors.
Baoke Zhang, 35, of Issaquah, Washington, pleaded guilty last week in federal court in Seattle. He admitted that he submitted four fake applications to three different lenders for forgivable loans under the Paycheck Protection Program, which provides payroll help to small businesses, prosecutors said.
SAP announced its Q3 earnings yesterday, with its aggregate results down across the board. And after missing earnings expectations, the company also revised its 2021 outlook down. The combined bad news spooked investors, crashing its shares by over 20% in pre-market trading and the stock wasn’t showing any signs of improving in early trading.
The German software giant has lost tens of billions of dollars in market cap as a result.
The overall report was gloomy, with total revenues falling 4% to €6.54 billion, cloud and software revenue down 2%, and operating profit down 12%. The only bright spot was its pure-cloud category, which grew 11% to €1.98 billion.
SAP’s revenue result was around €310 million under expectations, though its per-share profit beat both adjusted, and non-adjusted expectations.
While SAP’s big revenue miss might have been enough to send investors racing for the exits, its revised forecast doubled concerns. Even
SAP has reported third-quarter earnings results revealing reduced income and COVID-19’s impact on the company’s cloud business.
SAP’s Q3 2020 earnings (statement) (.PDF), ending September 2020, reveal revenues of €6.54 billion IFRS, down 4% year-over-year (or flat non-IFRS and at constant currencies) with basic earnings per share of €1.32 (€1.70 non-IFRS).
In Q2 2020, SAP reported €6.74 billion IFRS revenue.
SAP reported an operating profit of €1.47 billion IFRS, down 12% year-over-year and 1% to €2.07 billion non-IFRS and up 4% non-IFRS at constant currencies.
SAP says this reduction in operating profit is “primarily due to higher share-based compensation expenses compared to the prior year period.”
Operating cash flow for the first nine months of the year was €5.09 billion, up 54% year-over-year due to “lower restructuring-related payments and lower income tax payments.”
A cloud backlog of €6.6 billion has been recorded, while cloud revenue grew by 11% year-over-year, to
The new robotic lawn mower market research from Technavio indicates Neutral & Inferior growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Robotic Lawn Mower Market 2020-2024 (Graphic: Business Wire)
“One of the primary growth drivers for this market is the demand from commercial segment,” says a senior analyst for Industrials sector at Technavio.
The increasing demand from the commercial segment will be a significant factor in driving the growth of the robotic lawn mower market. Technological innovations have enabled market vendors to overcome challenges, such as low productivity, limited battery life, and the need for frequent maintenance of robotic lawn mowers. The adjustable shock absorbers components present in robotic lawn mowers adjust according to the slope and allow it to perform lawn mowing activity in
Users of the UK’s NHS COVID-19 contact tracing app have run into problems when trying to upgrade to the iPhone 12 or iPhone 12 Pro, with the app not prompting users to turn on Exposure Notifications after transferring it from the old device.
A number of iPhone 12 users in England and Wales who upgraded to the just-released models from an older iPhone have encountered error messages when they try to open the official NHS COVID-19 app. Users who perform an automated installation of in-use apps from their old iPhone to the new unit, such as via an iCloud Backup, may encounter errors when trying to run the app after the transfer takes place.
An error is displayed advising to users the app couldn’t be run due to a “restriction in your settings” or that another app is using the same technology and is stopping it from working,
CHICAGO, Oct. 23, 2020 /PRNewswire/ — To safely bring STEM education to students during the COVID-19 pandemic, ComEd is launching ComEd STEM Home Labs, its first-ever virtual program to provide Chicagoland students with STEM engagement at home. ComEd engineers developed the program in collaboration with university professor and STEM influencer Dr. Kate Biberdorf. The series kicks off on Saturday, Oct. 24, for 100 students, ages 13-17, from across Chicago-area communities.
Continuing ComEd’s longstanding investment in STEM engagement for Chicago-area youth, this new program inspires students to advance their confidence, knowledge and career paths in STEM through hands-on experiments in a year where many extracurricular programs are on hold. By exciting young women and students of color about careers in science, technology, engineering and math, ComEd STEM Home Labs will encourage them to pursue jobs in STEM.
“Women, African Americans and Latinos remain underrepresented in STEM
The CAD Software market will register an incremental spend of about USD 4 billion, growing at a CAGR of 8.45% during the five-year forecast period. A targeted strategic approach to CAD Software sourcing can unlock several opportunities for buyers. This report also offers market impact and new opportunities created due to the COVID-19 pandemic. Download free sample pages
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SpendEdge has announced the release of its Global CAD Software Market Procurement Intelligence Report (Graphic: Business Wire)
Key benefits to buy this report:
What are the market dynamics?
What are the key market trends?
What are the category growth drivers?
What are the constraints on category growth?
Who are the suppliers in this market?
What are the demand-supply shifts?
What are the major category requirements?
What are the procurement best practices in this market?
Amazon AMZN saw the largest increase in value among the world’s 100 best global brands this year. The rise of 60% took the e-commerce leader above the $200 billion barrier according to consultancy Interbrand. Apple AAPL held onto the top position, boosting its brand value by 38% to $323 billion.
Interbrand’s highly-anticipated Top 100 Best Global Brands have grown by 9% pushing up their total brand value over the $2.3 trillion mark. Strong names have become stronger thanks to a Covid-19 effect which has helped to reinforce the dominance of big tech in 2020. Not only do they hold the top five positions—Apple, Amazon, Microsoft MSFT , Google GOOG and Samsung—but technology and tech-platform brands now represent 48% of the total table value, versus only 17% in 2010.
The league table (see the interactive listing here)