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The consequences of Brexit are starting to emerge for builders in the UK, as real estate investors from across Europe shun London’s rental market amid worries of the country’s leaving, according to housebuilder Berkeley Group. European buyers have made up nearly 5% of Berkeley’s customers in the past, but now they roughly account for just 1%…
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TikTok owner ByteDance’s first-quarter revenues surged 130% year-over-year to $5.6bn (40bn yuan), as investors watch for signs of a public flotation this year from the Chinese startup. ByteDance has set an internal revenue target of around 200 billion yuan for 2020, according to a Reuters report citing unnamed sources. ByteDance is only eight years old…
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Coronavirus outbreak caused a global IT spending to slip 8% this year, with thousands of companies cutting their technology and service budgets and financing only essential IT costs. Although the entire sector is forecast to shrink, IT devices and data center systems are set to witness the most significant drop in consumer spending this year….
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The International Energy Agency (IEA) said it expects to see a historic drop in global oil demand this year due to the coronavirus pandemic, but forecasts a swift recovery on 2021, citing three factors that will boost demand for crude. In its closely-watched oil market report released on Tuesday, the agency headed by Fatih Birol…
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Five companies have lined up their IPO (initial public offering) pricing plans this week, as the US stock market bounces back from March lows caused by the coronavirus shutdowns. Royalty Pharma, Therapeutics Holdings, Biotech Progenity, Repare Therapeutics, and Genetron Holdings are expected to give further details on the billion-dollar-plus IPOs this week. All five are…
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This year gold prices have rallied as a result of of disrupted supply chains and closed down economies due to the global coronavirus pandemic and rising tensions between the US and China. Now, gold ETFs are gaining momentum as a hedge against the potentially overbought stock market, some traders say. Stocks rebounded early on Friday…
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Oil kept sliding after its first weekly drop since late April following BP’s move to downgrade its assets by up to $17.5bn (£13.8bn) because it expects crude prices will be lower than expected for the next 30 years. Britain’s second-biggest oil company said its budgets will be based around an average price of Brent crude…
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The Bank of England is primed to give itself at least another £100bn ($127bn) in bond-buying firepower next Thursday to try to stop the coronavirus crisis from running a wrecking ball through Britain’s economy. The Bank slashed interest rates to an all-time low of 0.1% in March as the country went into lockdown, and has…
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Dutch food delivery app Just Eat Takeaway has agreed to buy US rival Grubhub in a $7.3bn (£5.8bn) deal that creates the world’s biggest food delivery company outside China. The combination brings together a group with more than 70 million active customers who place close to 600 million orders a year. Ride-hailing firm Uber had…
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Foreign state-owned firms looking to buy European companies may face probes to see if they are taking advantage of unfair subsidies, said European Union (EU) antitrust chief Margrethe Vestager (pictured). “They [foreign subsidies] come without us knowing, they come without checks, there is a high risk that they will fragment the single market or unlevel…
