Jeffrey Katzenberg downsizes home after $1.75B Quibi failure

Times are tough for movie mogul Jeffrey Katzenberg.

In October, he had to shut down his video app Quibi after just six months — blowing $1.75 billion from investors. Now, he’s downsizing his house.

Katzenberg and wife Marilyn plunked down $26.7 million for a new home in Beverly Hills this week, real estate voyeur Dirt.com reported.

The 6,500-square-foot house, though pricey, is still a comedown from the couple’s last digs, a $125 million compound they sold in August to WhatsApp co-founder Jan Koum.

Situated on a ridge in Trousdale Estates, ZIP code 90210, Katzenberg’s mansion was built — and sold — by cosmetics king William Lauder.

A low-slung roofline sets off the home’s contemporary design. Out front is a mosaic wall.  A gated driveway leads to an attached garage with room for three luxury automobiles.

And don’t forget the backyard pool, which has — as Dirt described — “thrilling views of the entire Los Angeles landscape, from the downtown skyline to Catalina Island.”

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Best Golf Destination in Africa

Kenya has been named the Best Golf Destination in Africa by the World Golf Awards. The awards are a global initiative to recognise and reward excellence in golf tourism, courses and golf destinations, the website reads. ‘The results follow a year-long search for the world’s top golf tourism and hospitality brands. Votes were cast by professionals working in the golf industry and by the public (golf tourism consumers),’ they continue. Kenya has 41 golf courses and 8,000 registered golf players, according to the Kenya Golf Union whereas South Africa has 450 golf clubs with over 125,000 players. This makes the east African country’s win even more incredible.

UK PM Johnson congratulates Joe Biden on U.S. election win

LONDON (Reuters) – British Prime Minister Boris Johnson congratulated Joe Biden on winning the U.S. presidential election on Saturday, saying the he looked forward to working closely on their shared priorities.

SpiceJet to start flights connecting Nashik with Delhi, Bengaluru, Hyd

The SpiceJet flights on the Hyderabad-Nashik sector come under the regional connectivity scheme Udan.

SpiceJet said on Friday that it would launch flights connecting Nashik in Maharashtra with Delhi, Bengaluru and Hyderabad from this month.

Apart from the six flights connecting Nashik, the airline also announced 12 other flights, some of which are on the Bengaluru-Kolkata, Jaipur-Chennai, Mumbai-Udaipur, Ahmedabad-Udaipur and Delhi-Udaipur routes.

Flights on the Hyderabad-Nashik and Bengaluru-Nashik sectors will commence from November 20, while flights on the Delhi-Nashik sector will begin from November 25, the airline said in a statement.

The SpiceJet flights on the Hyderabad-Nashik sector come under the regional connectivity scheme Udan.

Under the scheme, financial incentives from the Centre, state governments and airport operators are extended to select airlines to encourage operations from unserved and underserved airports, and keep airfares affordable.

“Udaipur and Jaipur are two popular tourist destinations that see significant demand during the winters and I am sure our new flights to these cities will delight leisure and business travellers alike,” SpiceJet chief commercial officer Shilpa Bhatia said.

The Civil Aviation Ministry had said last week that the Indian airlines could operate a maximum 60% of their pre-COVID domestic passenger flights till February 24 due to the prevailing coronavirus situation.

Biden Knows Washington Has Changed. He’s Less Sure He Has To.

Preparing to assume the presidency in a divided country, Joe Biden confronts the ultimate test of his principal theory of governance: that compromise is good and modest progress is still progress.

By Matt Flegenheimer

Amazon Web Services to Spend $2.8B on Data Centers in India

Amazon Web Services, the top seller of cloud-computing services, is investing 207.6 billion rupees ($2.8 billion) to set up multiple data centers in the southern Indian state of Telangana, K.T. Rama Rao, state’s minister for information technology said in a tweet.

The data center cluster will open by mid-2022, he said on Twitter. Amazon opened its first data hub in Mumbai, India’s financial capital, in 2016. Data parks and storage services are becoming a lucrative bet in India and have lured global players as well as the local billionaire, Gautam Adani.

Facebook Earnings, Revenues Trump Wall Street

Facebook Inc. (FB) Thursday reported a third-quarter profit that increased from a year ago, driven largely by 22% growth in revenues. The social media giant’s earnings and revenues for the quarter trumped Wall Street estimates.

Menlo Park, California-based Facebook’s third-quarter profit jumped 29% to $7.85 billion or $2.71 per share from $6.09 billion or $2.12 per share last year. On average, 42 analysts polled by Thomson Reuters estimated earnings of $1.91 per share for the quarter.

Revenues for the quarter climbed 22 percent to $21.47 billion from $17.65 billion last year. Analysts had a consensus revenue estimate of $19.82 billion for the quarter.

Daily active users were up 12 percent to 1.82 billion on average for September, while monthly active users increased 12 percent to 2.74 billion. Total advertising revenues rose 22 percent to $21.22 billion.

“We had a strong quarter as people and businesses continue to rely on our services to stay connected and create economic opportunity during these tough times,” said Mark Zuckerberg, Facebook founder and CEO. “We continue to make significant investments in our products and hiring in order to deliver new and meaningful experiences for our community around the world.”

FB closed Thursday’s trading at $280.83, up $13.16 or 4.92%, on the Nasdaq. The stock, however, slipped $4.22 or 1.50%, in the after-hours trading.