Category: Software

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Strong Lumber and Panel Prices Buoy Weyerhaeuser’s 1Q; Deferred Harvests Causing Log Prices to Lag

Positive momentum in the long-suffering wood products business led improved results in Weyerhaeuser’s WY first quarter, as the segment benefited from improved housing demand and a cautious lumber industry that hasn’t fully recalibrated supply to meet the new demand reality. Results were more tepid in Weyerhaeuser’s other segments, as log prices haven’t enjoyed the kind of surge we’ve seen in lumber and panel prices, homebuilding … Continue reading Strong Lumber and Panel Prices Buoy Weyerhaeuser’s 1Q; Deferred Harvests Causing Log Prices to Lag

John MeadyLeave a comment
Finance, Software

Europe Closes In On Taking a Decision Regarding Bitcoin VAT

A recent legal referral in the EU may be inching the region a little closer to more unity on one small element of bitcoin taxation, but it won’t do much to help global confusion on the matter. Cryptocurrencies are so new that few member states have worked out how to interpret the VAT rules for them.

In June, Sweden asked Europe’s highest court, the European Court of Justice (ECJ), whether cryptocurrency exchanges are liable for value-added tax on the fees that they charge for their services. The result could have far-reaching implications for tax in the region.

In Europe, there is a directive on VAT that explains how it should be levied. EU directives are powerful documents, designed as high-level guides that member states can interpret when making their own laws. Belgium, Croatia, Cyprus, the Czech Republic, Greece, Hungary, Ireland and Italy haven’t decided whether to charge bitcoin exchanges VAT on the service that they provide. Latvia, Luxembourg, Malta, Portugal, Romania and Slovakia have no regulations on the matter either.

News on Bitcoins

Some states have firm rulings on the matter of VAT for Bitcoins. The UK was among the first, effectively making bitcoin trading exempt from VAT in a ruling published in March. While exchanges and miners are off the hook, though, the UK says that VAT should be charged when goods and services are sold for bitcoin. Denmark has also said that bitcoin trades will be free of VAT.

Several states have taken an opposing view. Estonia made its own decision about VAT on profits from bitcoin exchange services, levying a 20% tax on those trading bitcoins as a service. It is also charging a 10% tax on profits from selling bitcoins. Poland has imposed a 23% VAT on bitcoin mining profits, although its position on bitcoin exchanges isn’t clear.

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Richard Atkins
Finance, Software

PayPal Subsidiary Braintree On Verge of Accepting Bitcoin

Payments firm Braintree, a subsidiary of eBay and PayPal, is “in talks” with Coinbase and several other processing companies on the possibility of accepting bitcoin, according to a Wall Street Journal report. Braintree provides payments software for a number of popular mobile applications including Uber, Airbnb, and GitHub.

The company, which was acquired by PayPal for $800m in December last year, was processing up to $12bn in payments annually at the time – $4bn of that via mobile apps. No matter which bitcoin processor Braintree may choose, accepting digital currency would represent another significant step in bitcoin’s lifecycle.

“People familiar with the matter” stressed that any deal would not include either eBay or PayPal accepting bitcoin for now, though senior executives including eBay CEO John Donahoe have at times expressed an interest in ways to accept digital currencies, even describing it as “inevitable”.

News on Bitcoins

Anyone who doubted the seriousness of those comments in the media may be swayed if a partner business as close as Braintree began accepting bitcoin, demonstrating its utility on a slightly smaller scale than the two online giants. It could also represent a foot in the door for future acceptance

Both Uber and Airbnb have much in common with bitcoin. The startups have been lauded by supporters in the technology world for their disruption of the taxi and hotel industry, though they have also encountered stiff opposition from established participants in those segments. Thanks to its formal partnership with PayPal, also an eBay subsiduary, Braintree now serves 40 countries and 130 different currencies.

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Richard Atkins
Analysis, BioTech, Commodities, Diversified Tech, Finance, Global Equity, Mergers & Acquisitions, Semiconductors, Services Sector, Software, software, Tech IPO

International Game Technology Reports Solid 2Q Results; Shares Moderately Undervalued

International Game Technology IGT reported solid secondquarter results in line with our expectations. Revenue increased 11% to $600 million (compared with consensus of $572 million) and EBITDA increased 6% to $247 million (consensus of $200 million). The increase in revenue was driven by a 16% rise in product sales, primarily due to strong sales of video lottery terminals in Canada, sales to new casinos in … Continue reading International Game Technology Reports Solid 2Q Results; Shares Moderately Undervalued

John MeadyLeave a comment
Finance, Software

DISH Embraces Bitcoin Payment Programs

DISH customers can now use bitcoin to pay their monthly TV bills. The Colorado-based company went live with its bitcoin payments program today as part of its previously announced third-quarter rollout. The first customers to pay for DISH services using bitcoin are Austin and Beccy Craig. The American couple have famously chronicled their attempts to live using only digital currency on their Life on Bitcoin blog.

DISH head of corporate communications John Hall framed the news as part of the company’s overarching goal to embrace innovation: “DISH has always been about investing in better customer experience, whether that’s changing the way that we watch TV or the way that we bill.”

Hall said the company’s bitcoin payment option will now be visible to those using its online My DISH accounts and its Hopper HD DVR devices. “You can actually go into an app within the Hopper and pay your bill, and now if you choose bitcoin, it will come [up] with a QR code that you can pay right on your TV screen,” Hall added.

News on Bitcoins

DISH will accept payments through bitcoin merchant processor Coinbase. One of the first customers, Beccy Craig told CoinDesk that, while she was previously been a DISH customer, she’s looking forward to resuming the service now that she can make monthly payments in bitcoin. Austin Craig added: “We had a lot of time to read books and take hikes, but there were not very many luxuries like DISH.”

While TV may have been off limits at the time, the couple did have some success stretching the limits of what was available for purchase with bitcoin, even booking airline travel and hotel stays. The couple’s adventure is due to be chronicled as part of the as-yet unreleased ‘Life on Bitcoin’ documentary. As of June, the project was in the process of being submitted to at least one major film festival.

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Richard Atkins
Finance, Software

Stock in News: Google buys Dropcam (NASDAQ GOOG)

Google Inc(NASDAQ GOOG) has strengthened its home automation offerings by buying surveillance camera maker Dropcam for $555 million. The purchase, made by the Google’s Nest brand, shows the search giant’s executives remain convinced that home automation- which has so far been a relatively small market- will greatly expand in the future. The addition of Dropcam broadens Google’s ability to compete with companies like Apple (NASDAQ … Continue reading Stock in News: Google buys Dropcam (NASDAQ GOOG)

Richard Atkins