Viagogo forced to break up Stubhub after $4bn takeover February 2, 2021 Viagogo must sell all of Stubhub’s operations outside the US to satisfy competition concerns over its $4bn (£2.9bn) takeover, regulators said today. A probe by the Competition and Markets Authority (CMA) found that the deal would lead to a substantial reduction in competition in the secondary ticketing market and potentially result in higher fees or [...]
Landmark report aims to make City more diverse and inclusive February 2, 2021 A landmark new report on tackling racism will put diversity and inclusivity ‘front and centre’ in the City of London, its authors have said. A series of ‘comprehensive and decisive’ actions recommended by the City of London Corporation’s Tackling Racism Taskforce have been agreed by the Square Mile governing body’s Policy and Resources Committee. They [...]
Oil prices hit highest levels in a year as producers cut output February 2, 2021 Oil prices rose more than 2.5 per cent today to reach its highest since last February after major producers showed they were reining in output roughly in line with their commitments. Brent crude was up 2.5 per cent at $57.77 a barrel for its third straight day of gains and the highest levels in 12 [...]
UK threatens to cut all Myanmar aid if Aung San Suu Kyi not released February 2, 2021 The UK government has threatened to withdraw all aid to Myanmar if the country’s military does not release detained leader Aung San Suu Kyi and cease the current coup attempt. Asia minister Nigel Adams told MPs today that it would “suspend” aid to Myanmar, which all goes to non-governmental organisations (NGOs), if democracy is not [...]
The rise of TikTok ‘finfluencers’ offers lessons for the investment industry February 2, 2021 No longer just a platform for teenage dance challenges, TikTok is becoming the number one spot for financial advice.
BT in talks with Oneweb over satellite broadband rollout February 2, 2021 BT is in discussions over the potential use of Oneweb satellites to help roll out broadband to the most remote parts of the UK. The telecoms giant is in early stage talks to explore how satellite constellations could be used to beam internet services to rural areas that are too difficult or expensive to reach [...]
Get your lockdown foodie kicks with a YORStory Zoom night February 2, 2021 As the current lockdown drags into its third month, simple pleasures like a meal at a restaurant or a trip to the pub are becoming increasingly distant memories. For those of you desperate for gustatory experiences and human contact, YORStory has launched a weekly series of food and drink themed workshops to rescue your Thursday [...]
Gimme belters: Music rights firm Round Hill snaps up Rolling Stones and Beatles tracks February 2, 2021 Round Hill has made its first acquisition since floating on the London Stock Exchange, snapping up a catalogue of songs from hit artists such as the Beatles and the Rolling Stones. The music royalties group splashed out $282m (£206m) on the portfolio, representing 86 per cent of the capital it raised after floating in November. [...]
Octopus snares Ofwat chief executive as rapid growth continues February 2, 2021 Fast-growing energy firm Octopus has lured Ofwat chief executive Rachel Fletcher away from the water regulator, it was announced today. Fletcher, who spent three years at Ofwat, will become the challenger brand’s director of regulation and economics. Octopus is one of the UK’s fastest growing companies, and last year acquired the rare “double unicorn” status [...]
Alibaba beats revenue forecasts as China crackdown looms February 2, 2021 Alibaba beat revenue expectations for the third quarter as the ecommerce giant continued to benefit from higher demand during the pandemic despite a looming crackdown by Beijing. Total revenue hit 221bn yuan (£25bn) in the last three months of 2020, up 37 per cent year on year. This was driven by record revenue of 195.5bn [...]
