Airbnb reveals deeper loss ahead of stock market float November 17, 2020 Airbnb today revealed it has suffered deeper losses this year as a result of the Covid-19 pandemic, as it unveiled the prospectus for its eagerly-awaited stock market listing. The holiday rental company posted a loss of $697m (£527m) on revenue of $2.5bn in the nine months to the end of September, a widening of the [...]
British Airways owner IAG will reportedly cut Air Europa purchase price to €400m November 17, 2020 British Airways owner IAG has reportedly managed to cut the price of its acquisition of Spanish airline Air Europa to €300m-€400m. A year ago, the airlines group agreed a €1bn deal to buy the low-cost carrier, but the deal has been delayed due to the coronavirus pandemic. But Spanish news site El Confidencial today said [...]
Why blockchain can’t solve Brexit related customs issues November 17, 2020 Brexit is happening. Love it. Hate it. In denial about it. Excited about it. None of that matters. It’s coming. And it doesn’t matter about a deal, no deal, a great deal or a terrible deal – things at the borders are going to change. Can blockchain provide a magic solution to make everything ok? [...]
ESG and fixed-income indices surge in 2020 November 17, 2020 “Market indices have seen constant evolution in more than a century of history, but never more so than in the last year.” On 3 July 1884, the world’s first stock index, the Dow Jones Transportation Index, was published by Charles Dow. And every year since then, market indices have evolved and grown in scale and [...]
Imperial Brands revenue rises as demand for tobacco picks up November 17, 2020 Imperial Brands reported a rise in annual sales after demand for tobacco picked back up amid the pandemic. The maker of Gauloises and JPS reported revenue for the year to 30 September rose from £31.59bn to £32.56bn. Imperial Brands made a pretax profit of £2.17bn, up from £1.69bn in the previous year, which included £90m [...]
UK Brexit chief says trade deal could be struck ‘early next week’ November 17, 2020 The UK’s chief Brexit negotiator David Frost has reportedly told Prime Minister Boris Johnson to expect a trade deal with the EU “early next week”. The Sun reported that Frost said there was a “possible landing zone” that could be reached as early as next Tuesday. Britain and the EU are entering a key phase [...]
Three arrested in Germany over $1bn jewel heist November 17, 2020 Police have arrested three people in Germany on suspicion of carrying out an audacious $1bn (£757m) jewel heist at a museum containing Europe’s largest treasure collection. Thieves broke into the Gruenes Gewoelbe — or Green Vault — museum in Dresden last November, escaping with at least three sets of 18th century jewellery, including diamonds and [...]
DEBATE: Is there a case for a ‘working from home’ tax? November 17, 2020 Richard Tice, businessman and chairman of Reform UK, says YES Nightmare: your business loses half its customers overnight. You must react: do you double your prices, adjust your cost base, or seek a bailout? This is the dilemma facing public transport companies, as millions of customers suddenly choose to work from home. Double fares, halve [...]
Experian reports rise in revenue after ‘resilient’ performance November 17, 2020 Data credit company Experian (EXPN) is bullish on revenue growth in the third quarter after a ‘resilient’ performance in the first half of the year, despite the backdrop of the pandemic. Revenue for the first half of the year at constant currency grew three per cent after a strong performance in the second quarter. Experian [...]
Indonesian wealth fund to offer multiple investments to raise $15bn November 17, 2020 Indonesia’s new sovereign wealth fund will try to raise $15bn (£11.3bn) through specific industry funds as it tries to boost the flow of money into the country, according to finance minister Sri Mulyani. Sri Mulyani told Reuters that investors “will have the flexibility to invest in many portfolios”. These sectoral funds would come under a [...]
