Covid-19: why the tech giants have emerged as winners May 12, 2020 While many businesses struggle to survive under the global lockdown, the largest technology companies remain afloat and in some cases are even thriving. Microsoft has reported a surge in usage of its cloud computing service Azure, as millions of people work from home. Amazon is hiring an additional 75,000 workers, on top of the 100,000 [...]
Bitcoin: Five Factors; One Conclusion, Three Parts May 12, 2020 Bitcoin (BTC) has been labeled as an “uncorrelated asset” since BTC is not directly connected to global GDP, company, revenues, profits (P/E ratios), dividends, and instead, relies on the network effect. For those reasons, the million dollar question is… What are the factors that impact Bitcoin’s price the most and why? The answer to this [...]
Aviation chiefs plead for more help from government amid coronavirus chaos May 6, 2020 Representatives of the UK’s airports and airlines have said that the government must do more to support the aviation sector, warning that it “does not understand the strategic role the industry plays in the economy”. Speaking to the transport select committee, Tim Aldersdale, the chief executive of Airlines UK, said that there were “lots of [...]
Competition watchdog blocks JD Sports’ £90m takeover of Footasylum May 6, 2020 The competition watchdog has provoked a furious response from JD Sports after blocking the retailer’s £90m takeover of rival Footasylum. Following an in-depth investigation, the Competition and Markets Authority (CMA) ruled the tie-up would lead to a “substantially” lessening of competition nationally. As a result, consumers would be left with fewer discounts and could receive [...]
Real Estate: COVID-19 may permanently quarantine inflexible leases May 5, 2020 Real estate leases have long represented a point of disagreement between accountants and financial analysts. This disagreement was the primary reason why the London-headquartered International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) went separate ways in finalising lease accounting standards. Figure 1. Lease Accounting Survey Report (October 2013) For a [...]
FCA warns banks not to pressure corporate clients amid coronavirus April 28, 2020 The City watchdog today warned banks not to put pressure on their corporate clients to cut them into business in return for coronavirus loans. The Financial Conduct Authority (FCA) wrote to lenders to say it had heard “credible reports of a small number of banks failing to treat their corporate clients fairly” while negotiating coronavirus [...]
Five ways to retain your wealth management clients in 2020 April 28, 2020 The global wealth management industry is being buffeted by demographic changes among investors, as well as technological advancements such as the arrival of robo-advisers. Recent research commissioned by Bank of America on millennials’ spending priorities in the USA – with millennials defined as those aged 24 to 41 – found that about 25% of those who [...]
CMA receives 16,000 consumer complaints over coronavirus refunds April 24, 2020 Around four fifths of the complaints received by the Competition and Markets Authority’s (CMA) coronavirus taskforce have been related to refunds and cancellations. As of the beginning of the week, the CMA has received a total of 21,000 complaints related to the disease. According to the competition watchdog, 14,000 of these complaints refer to the [...]
CMA clears £6.2bn Just Eat Takeaway merger April 23, 2020 Just Eat and Takeaway.com received the green light to complete their £6.2bn merger today. UK watchdog t he Competition and Markets Authority (CMA) found the tie-up would not lessen competition in the food delivery space. The CMA said it was “satsified there are no competition concerns”. Takeaway.com fought off a rival bid from Dutch rival [...]
Arqiva’s £2bn telecoms takeover cleared by competition watchdog April 22, 2020 A £2bn takeover of Arqiva’s telecoms infrastructure division by Spanish rival Cellnex has been cleared by the competition watchdog. The merger, which agreed in October, will make Cellnex the largest independent operator of mobile masts in the UK, adding roughly 7,400 sites to its portfolio. The deal will also give the Spanish firm rights to [...]