Sue Mitchell August 20, 2014 The Age Coca-Cola Amatil is facing its second consecutive year of lower earning after first-half net profit fell. Weaker sales in convenience stores and petrol stations and pricing pressure in supermarkets crunched margins in its earnings engine room, the Australian beverages business. Net profit fell 15.6 per cent to $182.3 million in the six months ended June 30 from $215.9 million in the year-earlier period, the company said. Earnings before interest and tax in Australia, which generates more than 80 per cent of profits, fell 14.1 per cent to $226.5 million, while earnings in Indonesia plunged 83.4 per cent to $5.2 million, dragging group EBIT down 15.3 per cent to $316.7 million. The net profit was ahead of consensus forecasts of around $177 million, while the 15.3 per cent drop in EBIT was in line with the company’s profit warning in April, when new chief…

August 20, 2014 NACSOnline Drivers will deliver convenience store items in Washington, D.C., test launch. ​WASHINGTON – Uber, the car service that has disrupted taxi operations in cities worldwide, is gearing up for the Washington, D.C., launch of on-demand product delivery service dubbed “Corner Store.” The service will allow Uber users to order convenience store goods — such as “allergy medicine, diapers, toothpaste and over 100 other items” — via Uber’s app. The experiment mirrors numerous competing product on-demand delivery services, including Postmates, the declining eBay Now, and WunWun. It appears that Uber, however, will handle all deliveries by car, unlike the competition, which largely relies on bike messengers. According to Uber, items available for delivery will include over-the-counter medicines, candy, beauty items, office supplies, baby items and more.

Blair Speedy AUGUST 21, 2014 THE AUSTRALIAN ANALYSTS are expected to slash earnings forecasts for Coca-Cola Amatil after newly installed boss Alison Watkins flagged a major downturn in earnings for the second half of the year. CCA reported a net profit of $182.3 million for the six months to the end of June, down 16 per cent from the previous first half, while revenue was up 0.5 per cent at $2.34bn. The biggest hit came from the Australian business, where earnings before interest and tax fell by 14 per cent to $226m amid lower sales to smaller retailers and reduced demand in supermarkets due to poor consumer sentiment and aggressive competitor discounts. Merrill Lynch analyst David Errington slammed the company over admissions that it had cut sales staff over 2013 and increased capital expenditure on refrigerators for customers “at a period of time where it made absolutely no economic sense”.…

Esther Han August 21, 2014 The Age It is branded as a digital currency and contains the word “coin” but, according to a new Australian Taxation Office ruling, the bitcoin will be considered property. The Tax Office released long-awaited guidance on the tax treatment of cryptocurrencies on Wednesday, spurred by their rapid adoption by businesses and consumers alike. Bitcoin is a virtual online currency used for direct payment between people and businesses. It is unregulated and operates outside of the financial establishment. People buy bitcoins, Litecoins and others to keep in their digital wallets. Smartphone apps and online accounts allow people to transfer their coins to others in payment for goods and services. A bitcoin transaction was akin to a barter arrangement, whether conducted online or in brick-and-mortar shops, and therefore had similar tax consequences, the ATO said. “The ATO’s view is that bitcoin is neither money nor a foreign…

August 20, 2014 CSNews WASHINGTON, D.C. – Ride-sharing service Uber is venturing into the convenience market through “Uber Corner Store,” a limited-time experiment. Consumers in Washington, D.C., are now able to request candy and snacks, pain relievers, health and wellness items, and more than 100 other products through the Uber app. To take part in the experiment, Uber users must toggle to the Corner Store option of the app; set a delivery location and confirm their address; select items and place an order; and meet their driver outside and confirm the order upon arrival. No cash is required –- the price of ordered items is charged to their Uber account with no additional fees. The Uber Corner Store service began Aug. 19 and will operate Monday through Friday, 9 a.m. to 9 p.m. According to the startup, the experiment will run for several weeks, but the more positive the consumer…