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<ul class="summary-list"><li><keyword id="2978297" type="PERSON" weightage="60" keywordseo="intu">Intu</keyword>, one of <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword>'s largest <keyword id="6368952" type="UNKNOWN" weightage="60" keywordseo="Shopping">shopping</keyword> centre owners, has warned it may enter <keyword id="45620" type="ORGANIZATION" weightage="60" keywordseo="Administration">administration</keyword>, which would hand ownership of the business to a third-party.</li><li>It has appointed <keyword id="50041" type="CITY" weightage="60" keywordseo="KPMG">KPMG</keyword> to put together a contingency plan.</li><li>Intu is relying on standstill agreements ahead of a funding arrangement deadline with lenders on June 26.</li><li>Intu was struggling before the coronavirus pandemic. It had failed to fill some of its centres or secure necessary funding.</li></ul><p>Intu, one of UK's biggest shopping centre owners, <a href="https://www.intugroup.co.uk/en/news/news-and-press-releases/update-on-creditor-discussions/">said on Tuesday</a> that it may have to shut down some of its sites because of its financial woes.</p><p>It has appointed KPMG to make contingency plans for administration, which would see it lose legal ownership of its business. If a company is in debt and is unable to repay the money it owes, it can enter administration, where it can wind up without paying all its debts. </p><p>The struggling <keyword id="130462" type="ORGANIZATION" weightage="60" keywordseo="shopping-mall">shopping mall</keyword> operator was reportedly in debt before the start of the COVID-19 pandemic. It had struggled to secure funding and fill outlets at some of its sites.</p><p>It is currently discussing financial restructuring with lenders, but it could file for administration as early as Friday, June 26, if a standstill agreement does not materialize, according to <a href="https://www.propertyweek.com/news/intu-in-final-crunch-talks-as-administration-looms/5108578.article">Property Week</a>. </p><p><a href="https://www.intugroup.co.uk/en/news/news-and-press-releases/update-on-lender-discussions/">Last month</a>, Intu announced it would rely on standstill agreements until a revolving credit facility waiver deadline on June 26. </p><p>According to Intu's latest update, discussion points with stakeholders include the duration of a standstill agreement, which is not expected to exceed 15 months, the extent to which creditors will share future valuation recovery, and how its individual shopping centres will be funded. </p><p>"Some centres have reduced rent collections as a result of COVID-19 and cash trapped under their financing arrangements which restrict their ability to pay for support (such as shopping centre staff) from other entities in the intu group," Intu said in a statement. </p><p>In the event that it is unable to reach a standstill agreement, the mall operator said it is likely to fall into administration, and that some sites could close.</p>

Some of the UK's biggest shopping centres are at the risk of shutting down as malls giant Intu struggles with funding

<ul><li><strong>Investors are always on the hunt for secular growth stocks that could become the next mega-cap giant like Apple or Microsoft.</strong></li><li><strong>Goldman Sachs identified financial characteristics that could help investors in their search.</strong></li><li><strong>This is the "Rule of 10" screening tactic used by Goldman to identify secular growth stocks.</strong></li></ul><p>After the <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-megacaps-apple-nvidia-microsoft-google-amazon-sp500-2023-5">stunning ascent of mega-cap tech giants</a> like <a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a>, <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a>, and <a href="https://markets.businessinsider.com/stocks/googl-stock">Alphabet</a> over the past decade, more and more investors are on the hunt to find tomorrow's big stock market winners.</p><p>In an effort to identify the future mega-cap giants, <a href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs</a> analyzed the financial similarities behind today's winners and used that information to develop a screen that can help investors scout out the future growth engines of the stock market.</p><p>In a recent note, Goldman highlighted its "Rule of 10" in a bid to screen for secular growth stocks in the <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> that can grow in all stages of an economic cycle. The screen focuses on revenue growth above 10%.</p><p>"We screen for S&amp;P 500 stocks that grew sales by at least 10% during each of the previous two years and are expected to grow sales by at least 10% in the current year and each of the next two years," Goldman Sachs' David Kostin said.</p><p>There are currently 20 S&amp;P 500 stocks that meet this criteria, and they're in good company.</p><p>"The seven mega-cap tech stocks grew sales at a 15% CAGR from 2013 to 2019, compared with 4% growth for the S&amp;P 500. Excepting 2022, these stocks grew sales at a faster rate than the broader index in each year since 2019," Goldman Sachs' David Kostin said.</p><p>And the mega-cap tech stocks are still in great shape, according to Kostin, with Wall Street estimating that they will grow revenues at an annual rate of 11% through 2025, compared to just 4% growth for the S&amp;P 500. </p><p>While stocks that met this criteria have outperformed the S&amp;P 500 considerably over the past decade, so to have stocks that experienced consistent profit growth of at least 10%. This screen is especially poignant after 2022, as investors shifted their focus from "growth at all costs" to sustainable growth in profits.  </p><p>Goldman identified 18 S&amp;P 500 companies that meet this criteria, and only eight stocks that meet the criteria of both 10% revenue growth and 10% income growth.</p><p>These are the eight S&amp;P 500 companies that meet Goldman Sachs' "Rule of 10" screening criteria for both revenue and profits.</p><p><strong>8. ServiceNow</strong></p><p><strong></strong></p><div type="image" title="servicenow" height="512" width="1024" msid="101523609" hostid="261" sizebytes="80056"></div><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/now-stock">NOW</a></strong><br /><strong>Market Capitalization: $114.8 billion</strong></p><p><strong>7. Paycom Software</strong></p><div type="image" title="Paycom" height="637" width="748" msid="101523611" hostid="261" sizebytes="20826"></div><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/payc-stock">PAYC</a></strong><br /><strong>Market Capitalization: $18.4 billion</strong></p><p><strong>6. Insulet</strong></p><div type="image" title="PODD stock" height="640" width="754" msid="101523612" hostid="261" sizebytes="21392"></div><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/podd-stock">PODD</a></strong><br /><strong>Market Capitalization: $20.0 billion</strong></p><p><strong>5. Fortinet</strong></p><div type="image" title="FTNT stock" height="634" width="747" msid="101523614" hostid="261" sizebytes="24536"></div><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/ftnt-stock">FTNT</a></strong><br /><strong>Market Capitalization: $58.0 billion</strong></p><p><strong>4. Chipotle Mexican Grill</strong></p><div type="image" title="Chipotle location in Philadelphia's Center City area" height="2016" width="4032" msid="101523615" hostid="261" sizebytes="499838"></div><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/cmg-stock">CMG</a></strong><br /><strong>Market Capitalization: $58.3 billion</strong></p><p><strong>3. Intuit</strong></p><p><strong></strong></p><div type="image" title="Intuit logo" height="1000" width="2000" msid="101523616" hostid="261" sizebytes="38742"></div><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/intu-stock">INTU</a></strong><br /><strong>Market Capitalization: $127.5 billion</strong></p><p><strong>2. Cadence Design Systems</strong></p><div type="image" title="CDNS stock" height="634" width="746" msid="101523618" hostid="261" sizebytes="25336"></div><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/cdns-stock">CDNS</a></strong><br /><strong>Market Capitalization: $64.4 billion</strong></p><p><strong>1. Aptiv</strong></p><p><strong></strong></p><div type="image" title="APTV stock" height="642" width="751" msid="101523619" hostid="261" sizebytes="21164"></div><p><strong>Ticker: <a href="https://markets.businessinsider.com/stocks/aptv-stock">APTV</a></strong><br /><strong>Market Capitalization: $29.2 billion</strong></p>

The 'Rule of 10' can help investors identify the next big stock market winners, according to Goldman Sachs

<ul><li><strong><keyword id="4699571" type="PERSON" weightage="60" keywordseo="crispin-odey">Crispin Odey</keyword>'s main fund tumbled 17.9% in the first half of 2020, significantly underperforming the 3.5% loss seen throughout the <keyword id="802122" type="PERSON" weightage="60" keywordseo="hedge-fund-industry">hedge fund industry</keyword>, <a href="https://www.bloomberg.com/news/articles/2020-07-08/crispin-odey-hedge-fund-s-losses-deepen-to-17-9-in-first-half?srnd=markets-vp">Bloomberg</a> reported Wednesday.</strong></li><li><strong>The <keyword id="9256266" type="UNKNOWN" weightage="60" keywordseo="odey-european">Odey European</keyword> Inc. Fund slid 7.3% in June alone. </strong></li><li><strong>The loss comes despite netting at least 25 million euros ($28 million) from a bet against beleaguered payment firm <a href="https://markets.businessinsider.com/stocks/wirecard-stock">Wirecard</a> and at least 75 million euros ($94 million) from a short position on mall owner <a href="https://markets.businessinsider.com/stocks/intu_properties-stock">Intu Properties</a>, according to Bloomberg.</strong></li><li><strong>Odey's flagship only registered a monthly gain in March, when <keyword id="46699" type="PERSON" weightage="60" keywordseo="bearish">bearish</keyword> positions drove a 21% gain through <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>' coronavirus slump.</strong></li><li><strong><a href="https://www.businessinsider.com/?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestutm_source=msn.com&amp;utm_medium=referral&amp;utm_content=msn-slideshow&amp;utm_campaign=bodyurlutm_campaign=bodyurl">Visit the Business Insider homepage for more stories</a>.</strong></li></ul><p>Crispin Odey's main hedge fund tanked through the first half of the year, underperforming the broad hedge fund industry and wiping out gains made during March's market downturn.</p><p>The Odey European Inc. Fund sank 17.9% in the period compared to a 3.5% loss across the industry, <a href="https://www.bloomberg.com/news/articles/2020-07-08/crispin-odey-hedge-fund-s-losses-deepen-to-17-9-in-first-half?srnd=markets-vp">Bloomberg</a> reported Wednesday, citing a letter to investors. Odey's flagship fund dropped 7.3% in June alone as economies reopened and the stock market stabilized after its colossal April and May rallies.</p><p>"The future is as unknowable today as it was three months ago," Odey wrote in the letter.</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/real-estate-investing-strategy-cross-collateralization-guide-from-former-marine-2020-7">174 units with no prior experience: Here's the creative real-estate investing strategy a former Marine is using to generate 'crazy' cash flow</a></em></p><p>Odey was previously tracking to be one of the hedge fund industry's few winners earlier in the year. His bearish fund leaped 21% in March as risk assets plummeted amid initial coronavirus concerns. Yet every month since has yielded losses. Odey now manages $624 million in the main fund, down from roughly $700 million in March, according to Bloomberg.</p><p>The main fund's stumble comes despite two bearish bets minting multimillion-dollar profits. When embattled payment company <a href="https://markets.businessinsider.com/stocks/wirecard-stock">Wirecard</a> lost more than $2 billion from its balance sheet and later filed for insolvency, Odey netted at least 25 million euros ($28 million), Bloomberg reported.</p><p>Odey's bet against UK shopping mall group <a href="https://markets.businessinsider.com/stocks/intu_properties-stock">Intu Properties</a> also boosted the fund. His stake against the firm gained at least 75 million euros ($94 million) when Intu entered insolvency proceedings. </p><p>The <keyword id="154791" type="POSITION" weightage="60" keywordseo="Hedge-fund-manager">hedge fund manager</keyword> is on track for a second-straight annual loss should the firm fail to retrace its first-half plunge. The main fund slid 10.1% in 2019 as the record-long bull market continued. Odey pivoted to equity positions in November to counter some of his losses, Bloomberg previously reported, but an 11.4% leap in December wasn't enough to notch an annual gain.</p><p><em><strong>Now read more markets coverage from Markets Insider and Business Insider:</strong></em></p><p><em><strong><a href="https://markets.businessinsider.com/news/stocks/gold-price-tops-safe-haven-coronavirus-fears-record-inflows-etfs-2020-7-1029376587">Gold leaps above $1,800 for the first time since 2011 as traders pile into the popular safe haven</a></strong></em></p><p><em><strong><a href="https://www.businessinsider.com/economic-outlook-feds-bostic-coronavirus-case-wave-could-stop-recovery-2020-7">'People are getting nervous again': Fed president says virus resurgence could prematurely freeze economic recovery</a></strong></em></p><p><a href="https://www.businessinsider.com/stock-picks-to-buy-market-beating-returns-coronavirus-spikes-evercore-2020-7"><em><strong>Buy these 15 stocks that are shielded from COVID-19 fallout and primed to beat the market even as virus cases spike, Evercore says</strong></em></a></p>

Market bear Crispin Odey sees hedge fund massively underperform with 17.9% plunge in first half of 2020

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Intu Properties, formerly Capital Shopping Centres, may not exactly be a household brand name but roughly half of all British people are customers of the company.</p><p><span>It owns some of the biggest and best known shopping centres </span><a href="http://www.intugroup.co.uk/where-we-do-it/our-uk-centres/">including Manchester's Trafford Centre and Kent's Lakeside</a><span> and has 400 million customers going through its shopping centres every year.</span></p><p>Intu is colossal in the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword>: It's listed on the London Stock Exchange with a market cap of £4.2 billion ($6.6 billion) and the total value of <span>Intu's properties is worth around £9 billion ($14.1 billion).</span></p><p>Around 1 million people walking through Intu's doors on an average day. <span style="line-height: 1.5em;">The <span>115,000 people</span> who work in Intu shopping centres also account for 4% of Britain's retail workforce.</span></p><p>But growing to this size isn't easy. </p><p>"It's not widely understood just how huge Intu is," said David Fischel, CEO of Intu, to Business Insider. "We're everywhere, we have 18 centres across the whole of the UK as well as Spain too. We have an annual footfall of 25 million which is the same as filling Wembley stadium every day! But the<span style="line-height: 1.5em;"> business has changed dramatically over last 30 years."</span></p><p><span style="line-height: 1.5em;">"Shopping centres are no longer just big shopping areas with a food court attached - it's an all-singing-and-dancing destination with shops, restaurants, activities and events. Shopping hours have also changed and consumers act differently."</span></p><p><span style="line-height: 1.5em;">So, with this in mind, <span>Fischel told </span>Business Insider about the secrets behind getting customers to spend more money.</span></p><h2>Making customers stay for one more minute a trip makes millions of pounds</h2><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div><span style="line-height: 1.5em;">Fischel told Business Insider that people spend around <a href="http://www.intugroup.co.uk/media/316065/annual-report_2014.pdf">£5.5 billion ($8.7 billion) a year in Intu's </a></span><span style="line-height: 1.5em;"><a href="http://www.intugroup.co.uk/media/316065/annual-report_2014.pdf">18 shopping centres in Britain</a>. He also estimates that around half of Britain's population has at some point visited an Intu shopping centre and the average dwell time for a customer is 100 minutes. </span></p><p><span style="line-height: 1.5em;">"An average spend per minute in our shopping centres is around £55 million ($87 million). So if shoppers stay for an extra one minute, they spend an extra £55 million <span>($87 million)</span> and for an extra 5 minutes then the total spend increases by £275 million ($433 million)," said Fischel.</span></p><p><span style="line-height: 1.5em;">"This chart may look like it points out the obvious but it's really good to see a quantification of how a happy customer will stay longer in a centre and spend more money."</span></p><p><span style="line-height: 1.5em;"><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div><strong style="font-size: 1.5em; color: #000000;">Make sure there's a massive amount of choice for food and beverages and non-shopping</strong></span></p><p>In order to keep more people in a shopping centre for longer, Fischel says that everything from the "ambiance, to the signage" makes a huge difference to how long people will stay.</p><p>You can have hundreds of shops but it's really about making sure that a family won't leave the centre for the entire day because they don't need to.</p><p>As Fischel says, the company wants people to see going to their shopping centres as "making a day of it."</p><p><span style="line-height: 1.5em;">"What we've seen over the last few years in the UK is a</span><span style="line-height: 1.5em;"> really strong growth in the food and beverage area. Initially there 340 units (food outlets) across the centres and now there's over 3,000 and that number is continuing to grow," said Fischel. "Attractions is also a key way to keep people staying in centre for longer."</span></p><p><span style="line-height: 1.5em;">"The intu Trafford Centre, which is the largest shopping centre we have by market value at £2.2 billion ($3.5 billion) has the Sealife aquarium while intu Brayhead has an indoor sky slope. At Christmas we put up ice rinks. It's all about keeping people entertained."</span></p><h2>Make sure there's an Apple Store inside</h2><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div></p><p>Apple is famous for the ridiculously long queues to get into their stores on a product launch day - <a href="http://uk.businessinsider.com/apple-watch-on-sale-now-2015-4">people go crazy</a><span style="line-height: 1.5em;"> and some queue for days.</span></p><p>That's why having an Apple store in a shopping centre is a massive bonus to keeping people in the store and spending more money. </p><p>"Apple has got around 39 stores in the UK and we've got 12 of those in our centres," said Fischel. "Having an Apple store in your shopping centre is a kitemark for being a prime location. The customer flow from just having an Apple store is strong."</p><p>"Even if you're not going to buy anything in Apple necessarily, it draws more people to the centres because of the fanfare and the curiosity, meaning people will spend more everywhere surrounding it. It may seem like a paradox because it's a brand that caused the greatest disruption to physical commerce, yet is also one of our best tenants."</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div><strong style="line-height: 1.5em; font-size: 1.5em; color: #000000;">Get big brands to do shows or massive launches in your centres</strong></p><p><span><span>With that in mind, Fischel says that Intu signs deals with major companies to do launch events or hold shows at its centre - drawing in more customers.</span></span></p><p><span><span>They just signed a deal with Fox cinema to do a special event around a movie launch but the details aren't finalised yet.</span></span></p><p><span><span>"In the US, </span></span><span style="line-height: 1.5em;">Tesla is a great example of how massive companies can use shopping centres to their advantage. They're not rolling out expensive showrooms - they're using shopping centres to promote and bring in big crowds for their products," said Fischel.</span></p><h2><span>Make sure your website brings people to the shops</span></h2><p><span>Fischel said that while many physical shops may feel threatened by the boom in e-commerce, Intu uses its digital presence to actually bring more people in store.</span></p><p><span>Making sure Wi-fi and 4G is available for people going through its shopping centres is a huge deal in keeping customers happy, says Fischel, as well as making sure its websites for its centres are streamlined.</span></p><p><span>"After putting all the shopping centres onto one unified website, it has made a huge difference in terms of customers being better informed before they shop, and maybe go out to a centre for a day because of the promotions we push," said Fischel. "It's also a virtuous circle for getting more advertising and revenue from companies as we're able to offer big marketing packages that encompass online and in-store, as well as huge events."</span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/new-omega-globemaster-watch-unboxing-2015-5">Forget the Apple Watch - here's the new watch everyone on Wall Street wants</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="5iaDNwdDrYYMm2yipFb14ndbRkPnemqO" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

These are the secrets behind how shopping centres can make us spend &#163;55 million in one minute

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Marcos Brindicci/Reuters</span></p></div><p></p></div></div></p><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/alibaba">Alibaba</a> opened its first European store in Madrid on Sunday.</li><li>The new store, which falls under the AliExpress banner, isn't exactly like a traditional shop. It's more of a showroom-style concept where shoppers can browse and test a selection of products and then go home and actually buy the items online.</li><li>Alibaba is China's largest commerce company and it's making moves to grow its international presence and take on <a href="https://www.businessinsider.com/category/amazon?r=US&amp;IR=T">Amazon</a>.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul><p>China's largest online shopping company is ramping up its presence overseas.</p><p>On Sunday, <keyword id="6354851" type="UNKNOWN" weightage="60" keywordseo="retail">retail</keyword> giant Alibaba unveiled its first European store in Madrid, Spain in the city's intu Xanadú shopping center. The new store falls under its AliExpress banner - the consumer shopping side of its business - and functions like a showroom where shoppers can come and browse and test its mix of products and then buy these online.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Courtesy of AliExpress</span></p><p class="caption">The AliExpress store in Madrid.</p></div><p></p></div></div></p><p>The showroom will feature more than 1,000 products from 60 brands.</p><p>The move into brick and mortar in Europe is all part of Alibaba's grand plan to grow its global market share and take on Amazon, whose annual revenue is more than <a href="https://ir.aboutamazon.com/news-releases/news-release-details/amazoncom-announces-fourth-quarter-sales-20-724-billion">four times the size</a> of its <a href="https://www.alibabagroup.com/en/ir/newsevents?page=1&amp;year=all&amp;type=all">own</a>. </p><p>While Alibaba occupies <a href="https://www.emarketer.com/content/alibaba-jd-com-lead-in-china-but-a-few-others-are-making-dents-too">56% of the market share</a> in China and its user base is <a href="https://www.alibabagroup.com/en/ir/newsevents?page=1&amp;year=all&amp;type=all">growing at a rapid rate</a> - 674 million people actively shop on its platform each year and it added 121 million active users in the last quarter - it still has some way to go to keep up with Amazon internationally.</p><p>It is already making headway outside of China, however. In early 2018, it <a href="https://us.kantar.com/business/retail/2019/alibaba-opens-first-store-in-europe/">launched</a> its AliExpress affiliate program in Europe. This functions in a similar way to Amazon's own marketplace whereby sellers can use its portal to sell their wares and send these out to customers via its delivery network in exchange for a selling fee.</p><p>According to insights company Kantar, this is already paying off in Spain, which is now one of its largest markets along with the US and Russia.</p><p>"This makes the opening of the Madrid store an obvious strategic decision to attract more shoppers to the Chinese marketplace," Kantar digital insights expert Malcolm Pinkerton wrote in a blog post on <a href="https://us.kantar.com/business/retail/2019/alibaba-opens-first-store-in-europe/">Tuesday</a>.</p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/alibaba-unveils-tools-american-small-business-owners-2019-7?r=US&amp;IR=T">Chinese e-commerce giant Alibaba is coming to the US in a major way</a></em></p><p>Alibaba doesn't only have its sights set on Europe. The company has also made a push to grow the wholesale side of its business in the US, which is done on the Alibaba.com platform.</p><p>In July, Business Insider's Bethany Biron <a href="https://www.businessinsider.com/alibaba-unveils-tools-american-small-business-owners-2019-7?r=US&amp;IR=T">reported</a> that the company had rolled out new digital tools to encourage domestic trade in the US and increase participation in the $23.9 trillion global B2B market.</p><p>"China has been, for a long, long time, a terrific source of good quality, relatively inexpensive products," Michael Evans, president of Alibaba Group, said at a press event at Alibaba's New York City office in July. "Today we're creating the ability for small businesses and large wholesalers in the United States to source and trade with each other and for small businesses to sell their products to countries all over the world."</p><p>Its expanded program is designed to give 30 million American manufacturers access to resources to help create their own commerce sites on Alibaba.com, as well as build out digital marketing campaigns.</p><p>According to Evans, its strategy isn't to do what Amazon does but to go where it isn't by focusing on growing its wholesale platform in the US.</p><p>"It's to basically take the great American brands and sell their products to the Chinese consumer on our platform who loves American products, and we've been phenomenally successful with that," he said.</p><p class="tagline"><a href="https://www.businessinsider.com/intelligence/40-big-tech-predictions-for-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=amazon&amp;itm_campaign=40-big-tech-predictions-for-2019-3"></a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-to-make-submit-your-own-emoji-start-finish-2019-8">If you want an emoji that isn't available, you can create it. 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Alibaba, the $435 billion Chinese shopping giant, is gunning for Amazon in Europe

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Guatemala Government www.flickr.com</span></p></div><p></p></div></div>Hedge fund and asset managers are betting against many of the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword>'s most recognisable brands, with the City starting to bet against the health of UK-focused companies in the aftermath of the vote to leave the European Union in June.</p><p>The referendum result brought about massive insecurity over the state of the UK economy. <a href="http://uk.businessinsider.com/bank-of-england-mark-carney-interest-rate-decision-2016-8">The Bank of England has already cut interest rates and launched a new quantitative easing programme to head off the coming economic storm,</a> while <a href="http://uk.businessinsider.com/niesr-research-on-uk-gdp-2016-8">economic surveys are pointing towards a substantial downturn in the country's fortunes.</a></p><p>As a result, asset managers are making unprecedented bets against companies that carry out a large proportion of their business in the UK. Since the referendum, short positions have increased by 29% in British pub chain JD Wetherspoon - whose founder Tim Martin was a vocal Brexiteer - while shorts on Intu Properties, which owns shopping centres across the UK, have increased by 144% since the referendum, <a href="http://www.thetimes.co.uk/edition/business/short-sellers-raise-stakes-on-big-business-collapse-zvch97qvj">according to an article in The Times.</a></p><p>"What you can see very clearly is that businesses that have a domestic focus are being targeted for shorts. Some of the increases in short activity in property companies have been massive since the referendum," Simon Colvin from Markit, which compiled the data cited by The Times.</p><p>Shorting a stock, at its most basic level, involves selling a stock that you do not own before buying it back at a later date. Short sellers bet on the value of shares falling, banking on making a profit from that price fall.</p><p>Given the huge increase in shorts on UK-focused companies since the referendum, Business Insider decided to take a look at the stocks that are currently most shorted by UK fund managers, using data compiled by Castellain Capital's Short Interest Tracker.</p><p>The data shows that the UK's fund managers have little faith in the UK's retail sector, as four of the top ten shorted stocks are retailers, with two physical supermarkets, one online supermarket, and HMV, a former stalwart of the high street, which has suffered massively at the hands of Amazon and other online retailers.</p><ol><li>Carillion, facilities management and construction - 18.48%</li><li>Ocado, online supermarket - 17.9%</li><li>Morrisons, supermarket chain - 16.6%:</li><li>Tullow Oil, oil and gas exploration - 12.09%:</li><li>Weir Group, engineering - 9.92%:</li><li>Mitie Group, outsourcing and facilities management - 9.86%:</li><li>Sainsbury's, supermarket chain - 9.81%:</li><li>Melrose Industries, investments and acquisitions - 8.45%:</li><li>HMV Group, high street music and entertainment retailer - 8.08%:</li><li>Globo, enterprise mobility management - 7.03%:</li></ol><p>Shorts in Ocado have actually decreased over the past week. <a href="http://uk.businessinsider.com/ocado-short-stock-amazon-morrisons-2016-8">Business Insider's Jim Edwards - who owns Ocado stock - noted last week that the company's shares popped around 20% in</a> just a few trading sessions, despite being the most shorted in the UK. That position has changed and Ocado is now only second-most shorted.</p><p>Interestingly, despite the current tribulations of the industry, no fund managers in the UK have a short position against any of the country's big four banks - RBS, Lloyds, HSBC, and Barclays. <a href="http://uk.businessinsider.com/britain-votes-for-brexit-banking-stocks-crash-as-much-as-30-2016-6">That is despite a big initial crash in the value of the banks after the referendum</a> and continued worries about <a href="http://uk.businessinsider.com/adam-smith-institute-report-on-coming-financial-crisis-and-the-bank-of-england-2016-8">another banking crisis in the near future.</a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/real-estate-bizarre-house-san-francisco-california-suburb-2016-7">No one wants to buy this bizarre house in a wealthy San Francisco suburb</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="hmdzcxNTE64DFq4MmhnQPHwo6CHUK3mS" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Fund managers predict that stock prices are going to crater for these British companies

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>China Photos/Getty images</span></p></div><p></p></div></div><a href="http://uk.businessinsider.com/government-will-hold-eu-referendum-on-june-23-2016-1">Britain will vote on June 23 whether the UK should leave or stay in the European Union.</a></p><p>The debate is fierce, with those wanting to leave arguing that the EU robs Britain of sovereignty and costs the country too much money. On the other side of the argument, those who want to remain in the 28-nation bloc are telling voters a Brexit will be hugely damaging to the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> economy.</p><p>Lots of the biggest banks have weighed in with their views on the potential impacts of Brexit, and Goldman Sachs is the latest to offer its opinion on what might happen if Britain severed ties with the European Union, focusing on the impact Brexit could have on the performance and share prices of the UK's companies.</p><p>In a note titled "Brexit: Pricing, stock exposure and impact on Europe " Goldman takes an in-depth look at what Britain leaving the EU could do to the biggest companies in Britain. According to Goldman, if you're a bank, build houses, or sell household goods, things won't be all that pleasant if Britain leaves the EU.</p><p>Goldman took a look at the sectors where earnings are most correlated to demand growth in Britain, arguing that the financial hit Britain may take after leaving the EU would be most concentrated, in the corporate arena at least, on banks, property firms, and household retailers.</p><p>At the other end of the spectrum, Britain's already stricken mining and metals companies will get off relatively lightly, thanks to their huge exposures to economies outside of the UK. Here's the sector-by-sector breakdown:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Goldman Sachs</span></p></div><p></p></div></div></p><p>Along with sectors, Goldman also has bad news for specific British companies. Here are the ten the bank says could be worst hit by Brexit, and it doesn't make pleasant reading for people involved in property (property firms are in bold):</p><ol><li>Travis Perkins</li><li><strong>Bovis Homes</strong></li><li><strong>Persimmon</strong></li><li><strong>Intu Properties</strong></li><li><strong>Barratt Developments</strong></li><li><strong>Bellway Homes</strong></li><li><strong>Berkeley Group</strong></li><li><strong>Redrow Homes</strong></li><li><strong>Great Portland Estates</strong></li><li><strong>Land Securities</strong></li></ol><p>Not only could these companies take a big hit if Britain leaves the EU, Goldman Sachs says that the impact is already being felt. Here's what analysts led by Sharon Bell have to say (emphasis ours):</p><p style="padding-left: 30px;">The <strong>sectors most correlated to domestic demand tend to be financials, real estate, and homebuilders, with support services (logistics, staffing etc.) and travel &amp; leisure in there too</strong>. The least sensitive sectors are generally those with lots of international sales - metals, tobacco, aerospace, media, and mobile telecoms.</p><p style="padding-left: 30px;">We do the same thing at the stock level ... <strong>Again, homebuilders, banks, real estate, and travel &amp; leisure stocks feature predominately in this list.</strong></p><p style="padding-left: 30px;"><strong>This group of companies is down around 8% versus the market since the beginning of the year</strong>, more so than our UK domestic basket and more so than the FTSE 250 - again evidence of the market pricing in a significant Brexit risk, in our view.</p><p>The bank doesn't provide any concrete figures on exactly how much Brexit could cost, but in its worst-case scenario, suggests that earnings across Britain's big firms could fall as much as 13% overall, with the housebuilding and banking sectors presumably losing even more. Here's Goldman one last time:</p><p style="padding-left: 30px;">If industrial production were to fall by say 2.5% this would all other things equal push down FTSE 100 earnings by around 13% and FTSE 250 by around 18%. </p><p>Goldman is just the latest in a series of companies and advocacy organisations adding to what looks like a fairly gloomy picture for UK businesses if Britain does vote to leave on June 23. A couple of weeks ago <a href="http://uk.businessinsider.com/morgan-stanley-note-on-the-effects-of-britain-leaving-the-european-union-2016-3">Morgan Stanley warned Brexit could cause "contagion" across Europe</a>, <a href="http://uk.businessinsider.com/hsbc-research-eu-referendum-brexit-consequences-2016-2">while HSBC said the impact could be </a><span><a href="http://uk.businessinsider.com/hsbc-research-eu-referendum-brexit-consequences-2016-2">"potentially huge."</a></span></p><p>Earlier on Monday, <a href="http://uk.businessinsider.com/cbi-eu-referendum-brexit-economic-analysis-job-losses-huge-costs-and-personal-finance-impact-2016-3">the Confederation of British Industry, probably the most important lobbying body for British businesses, presented its "doomsday" scenario for Brexit</a>, saying it could cost Britain as much a £100 billion, and nearly a million jobs by the end of 2020.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/2-in-1-shampoo-conditioner-combination-science-2016-3">Why 2-in-1 shampoo and conditioner products don't work </a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="91YjV0MTE6Q-UUNd4hePsmmU5pUlzcwC" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

GOLDMAN: Brexit will smash British companies - here are the ones which will be worst hit

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><ul><li><strong>42-year-old Adam Breeden has been the brains behind popular venues like All Star Lanes, Bounce, and Flight Club.</strong></li><li><strong>The 'social entertainment' venues have changed going out culture in London and across the UK - and they're making their way to the US.</strong></li><li><strong>Under the umbrella of his company Social Entertainment Ventures, Breeden's next launch will be a £6 million digital mini golf venue created alongside the co-founders of Topgolf, and he also plans to launch a bingo venue.</strong></li><li><strong>He told Business Insider how he went from a dishwasher to the founder of some of nightlife's most innovative concepts.</strong></li></ul><p><br>Adam Breeden's first job in the hospitality world involved cleaning dirty plates at a restaurant - and he loved it so much it inspired the rest of his career.</br></p><p>Along with his love of meditation, it was his ability to embrace the restaurant industry's crazy, ever changing culture that has led to his current success.</p><p>Now the 42-year-old cofounder of holding company <a href="https://www.socialentertainmentventures.com/" target="_blank" rel="noopener">Social Entertainment Ventures</a>, Breeden has been the brains behind some of London's most popular going-out spots, such as the bowling venue All Star Lanes, Bounce ping pong, and the Flight Club darts bar - and he's not stopping there.</p><p>Born in Hertfordshire, Breeden told Business Insider: "My mum was a cookery writer, and it gave me quite a lot of inspiration in terms of the culinary arts."</p><p>In school, he said he excelled at "anything creative" - and he knew he wanted to open a restaurant.</p><p>"I couldn't think of anything more creative than an all-sensory experience," he said. "I announced it to my parents at the time, and they said, 'Why would you want to do that? You're only 16.'"</p><p>The first step towards his goal was a job as a dishwasher while he was studying at the University of Newcastle. "I absolutely loved it," he said. "Chefs shouting at eachother, customers coming in... I was only allowed to clean the dirt off the plates, but I realised this is what I've got to do."</p><p>As part of his International Business degree, he spent a year studying in Paris. He also worked at Publicis on their "largest account" and was offered a job at the end of it - but turned it down.</p><h2>Launching London's 'Bar of the Year'</h2><p>Instead, in 2002, and Breeden and his brother Charles launched The Lonsdale cocktail bar in Notting Hill.</p><p>"It was an overnight success," he said. "We won Time Out Bar of the Year, which was like winning the Oscars at the time in the industry."</p><p>He added: "The degree didn't teach me much at all in terms of what it's like to launch your own business. It's like riding a rollercoaster naked with lightning going off at the same time."</p><p>The brothers became well-known in the cocktail industry, and managed to recruit "half of the best mixologists in London."</p><h2>Making bowling cool again</h2><p>Things took a turn when, a few years later, Breeden was introduced to Mark von Westenholz, who had an idea to "take bowling and make it cool again."</p><p>He said that at the time, all bars and restaurants were "versions of the same thing."</p><p>"We had the idea for <a href="https://www.allstarlanes.co.uk/" target="_blank" rel="noopener">All Star Lanes</a> - bringing the West London Notting Hill premium cocktail experience and high heels glamour to bowling," he said. "We thought cocktails, a bite to eat, and something fun to do had to be more compelling."</p><p>All Star Lanes opened in London's Holborn in 2006, boasting bowling lanes, a cocktail bar, and a restaurant. Luckily, customers loved the idea - and Breeden said they also got a lot of corporate interest.</p><p>"Within the first three to four months of trading we almost broke the operation, it was so busy," he said.</p><p>Breeden is no longer involved in the business, but says it's still "going from strength to strength." It now has four London locations, as well as one in Manchester.</p><p>"I stepped down when I had more inspiration to do other things," he said - the first of which was <a href="http://www.bouncepingpong.com/" target="_blank" rel="noopener">Bounce</a>, a ping pong venue.</p><h2>A social ping pong club</h2><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>Breeden's co-founder Dov Penzik, an entrepreneur and previous table tennis player, came to him with the idea, which seemed a bit crazy to Breeden at first.</p><p>However, he said the pair developed the concept to ensure it would be a "fantastic venue" even without the tennis tables.</p><p>"The business was really centering in on that question you have as a group - you want to do something, you don't want to hire a private dining room, you want people to have some fun and do something interesting," he said.</p><p>"There was such a shortage of places to do that."</p><p>They opened Bounce in 2012 in Farringdon - on the site where ping pong was founded by John Jacques III in 1901 - and were quickly surprised by how much people love ping pong. They opened a second venue in Old Street in 2015, which became profitable in its first month.</p><p>Calling itself "Europe's largest purpose built 'Social Ping Pong Club,'" aside from table tennis, Bounce also boasts a cocktail bar and pizza restaurant."</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>"We went straight to the US and opened in Chicago under the brand AceBounce two years ago," Breedem said, adding that the venue is performing "absolutely fantastically" with plans to roll out across the US.</p><p>But Breeden didn't stop there.</p><p>"I thought, if you can do it with ping pong, you can do it with other sport," he said.</p><h2>Making darts digital</h2><p>He began talking to Steve Moore and Paul Barhan about building a social entertainment venue revolving around darts.</p><p>"We needed something else to make it a fun and easy group experience, so the guys went off and nailed what is now trademarked as social darts," he said.</p><p><a href="http://flightclubdarts.com/london/" target="_blank" rel="noopener">Flight Club</a> opened in 2015 in Shoreditch, with a second location in Bloomsbury in 2017. It offers darts "ochres" or areas with boards that use digital scoring and non-traditional gaming options - as well as instant video replay.</p><p>Flight Club is not only rolling out across the UK - where it operates as a separate business to the other brands under the <a href="https://www.socialentertainmentventures.com/" target="_blank" rel="noopener">Social Entertainment Ventures</a> holding company umbrella - but also across the US, again starting with Chicago.</p><p>While Breeden still sits on the board, his focus is on the concepts that lie under the Social Entertainment Ventures umbrella - Bounce, Flight Club USA, and his two latest ventures, Puttshack and Hijingo.</p><h2>'The world's finest mini golf experience'</h2><p><a href="https://www.puttshack.com/" target="_blank" rel="noopener">Puttshack</a>, a £6 million investment which opens in London's Westfield Shepherd's Bush shopping centre in June, was inspired the technology created by co-founders Steve and Dave Jolliffe of Topgolf, which, with more than 40 sites, is a US phenomenon according to Breeden.</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>"It was arguably the first social entertainment concept," he said, explaining that the technology automatically scores the game for you. "It predates All Star Lanes by three years."</p><p>The Jolliffe brothers have helped Puttshack bring that same technology to mini golf. Breeden says you'll walk through the door, be greeted by screens where you'll punch yourself in and select a tee-time and restaurant booking, be allocated a course, and receive your ball from a dispenser.</p><p>The experience will involve animation reflective the game play and score, sound effects, and cameras around the course which will film you and send you video of your best shots.</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>"I believe it to be the world's finest mini golf experience," he said, adding that the company plans to launch a second venue in the No 1 Poultry Building, another as part of the extension of the intu Lakeside shopping centre in Essex, and four more across the UK a year later.</p><p>"That's not including the US," he added, where he expects to roll out Puttshack in 2019</p><p>While details are minimal, his next venture will take on bingo, infusing "technology and traditional number play to unlock a ground-breaking twist on bingo like never before," according to the company.</p><p>Breeden has partnered with <a href="http://rebelbingo.com/" target="_blank" rel="noopener">Rebel Bingo</a> creator James Gordon to launch Hijingo in the UK, with plans to launch three venues within its first 12 months in major UK cities, including London.</p><h2>London is 'way ahead of the rest of the world'</h2><p>While Bounce, Flight Club, and Putthack are all heading Stateside, Breeden said that London is "way ahead of the rest of the world when it comes to social entertainment."</p><p>"Without question the space is exploding," Breeden said. "We've seen a number of other people do different concepts, whether it involves table football, arcades, or other mini gold experiences, or copy cats of Bounce up and down the country."</p><p>He added: "You'd ordinarily expect these things to come from the US... London is spearheading the charge."</p><p>He believes the same applies to the restaurant scene in general.</p><p>"I honestly think London trumps New York now in terms of the restaurant scene," he said.</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><h2>Using meditation to stay creative</h2><p>With so many concepts in his past, present, and future, Breeden certainly knows he has to keep the momentum going to be successful - but he also knows how important it is to take the time to slow down.</p><p>"I meditate every morning," he said. "Without that I don't think I would have the space in my brain to be creative."</p><p>He also recently brought a CEO on board to run Social Entertainment Ventures so he can keep that creativity going.</p><p>"My role is creating new concepts, continuing to innovate," he said. "If you're not moving, you're going backwards, particularly in the restaurant business."</p><p>He added that his role has been a lucky one in many ways, and emerging younger generations have made it a "fascinating time" to be in the business.</p><p>"In the past, when you were young, you drank in order to make friends and meet a love interest," he said. "Now, we have the internet for that.</p><p>"Younger generations aren't turning to alcohol to fulfill their social needs and desires... You have to work harder to make things more interesting."</p><div>    </div><div>    </div>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/nobel-prize-winning-economist-oliver-hart-what-milton-friedman-got-wrong-2018-5">A Nobel Prize-winning economist explains what Milton Friedman got wrong</a></h3>        <div>                    </div>    </div></hr>

This former dishwasher turned 'social entertainment' bar founder changed drinking culture in London and the US - and he's about to launch a new £6 million concept

You Searched For "intu" and got 8 results

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You Searched For "intu" and got 8 results

Some of the UK's biggest shopping centres are at the risk of shutting down as malls giant Intu struggles with funding

Shalini Nagarajan

The 'Rule of 10' can help investors identify the next big stock market winners, according to Goldman Sachs

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Market bear Crispin Odey sees hedge fund massively underperform with 17.9% plunge in first half of 2020

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These are the secrets behind how shopping centres can make us spend &#163;55 million in one minute

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Fund managers predict that stock prices are going to crater for these British companies

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GOLDMAN: Brexit will smash British companies - here are the ones which will be worst hit

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This former dishwasher turned 'social entertainment' bar founder changed drinking culture in London and the US - and he's about to launch a new £6 million concept

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These are the secrets behind how shopping centres can make us spend £55 million in one minute