Amazon to pay compensation to shoppers injured by third-party products August 10, 2021 Amazon will start paying customers who are impacted by dangerous goods sold by third-party merchants on its US platform in a move that could reduce litigation. The ecommerce giant today said it will start offering compensation for personal injury or property damage of up to $1,000, effective from 1 September. Amazon added it may step [...]
Crackdown fears: Tencent-backed videogame maker sees shares drop 20 per cent in debut August 10, 2021 Videogame maker Krafton has watched its highly anticipated initial public offering collapse 20 per cent in its debut, as it was rocked by fears of a gaming crackdown across the pond. After securing a $3.8bn initial public offering (IPO), South Korea’s largest in over a decade, Tencent-backed Krafton became the first stock debut to fall [...]
David Cameron was paid £7.2m by Greensill Capital before collapse August 9, 2021 David Cameron was paid a total of £7.2m over a number of years by failed supply chain finance firm Greensill Capital before it went bust in March. Documents, uncovered by the BBC Panorama, have revealed this included £3.3m he received after selling his Greensill share options in 2019. Cameron has said in the past that [...]
Skadden agrees 15 year lease for 22 Bishopsgate office August 9, 2021 International law firm Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates, has signed for three floors of 22 Bishopsgate. The City of London’s tallest office building is now 60% let with the US law firm taking 65,000 sq ft of space and planning to move its 250-strong London workforce to the site in late [...]
California feels the heat as wildfires sweep the Golden State August 9, 2021 More than 5,000 firefighters are battling wildfires across California, including the state’s largest ever standalone blaze. The Dixie Fire started on 13 July and has since consumed more than 463,000 acres (187,369 hectares), an area larger than Greater London. Just 21 per cent of the blaze is contained, according to officials. By Saturday evening, the [...]
Rolling out the welcome map for tourists will pay off for London August 9, 2021 Anyone who has lived in London for more than a few months will have a jaundiced view of tourists. They crowd the pavements and the Tube, they form great queues outside museums and galleries, they book out restaurants and they seem to have a preternatural ability to wander aimlessly in a way which is maximally [...]
Berkshire Hathaway profits surge on global economic rebound August 7, 2021 Warren Buffett’s Berkshire Hathaway posted a bumper crop of results on Saturday driven by the resurgence in economic activity around the world after the Covid-induced slump boosting many businesses’ bottom lines that are owned by the billionaire. Operating profits jumped 21 per cent to £6.69bn in the second quarter of this year compared with the [...]
US stocks reach record highs as jobs market recovery gathers pace August 6, 2021 Wall Street opened higher on Friday to reach record highs after fresh data showed the US labour market is recovering from Covid at a faster pace than first thought. The S&P 500 and Dow Jones both hit record highs in morning trading on Friday. The former rose 0.08 per cent and the latter was up [...]
Businesses seek cover amid wave of discrimination lawsuits August 6, 2021 UK and US insurers are being flooded with requests for cover from businesses amid rising numbers of covid related discrimination lawsuits, it has been reported. According to Reuters, there have been 2,950 Covid-19 related employment lawsuits in the United States since the start of the pandemic, with health and safety, remote working and workplace discrimination [...]
Festival insurance scheme ‘too little, too late’ for organisers of summer events August 6, 2021 Festival organisers have lamented after the government’s announcement of an insurance scheme comes “too little, too late” against a summer of cancelled events. The Treasury said costs associated with the cancellation of festivals, conferences and other live events due to Covid restrictions will be covered almost entirely by the government under a new £750m scheme. [...]