The transportation and ride-sharing company has revealed a strategic partnership with BYD. As part of this deal, their drivers will be able to get hold of its partner’s cars at preferential rates and with the help of improved financing offers. One hundred thousand BYD vehicles are to be offered to drivers in this way. The…
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This intercession is the latest in Japan’s efforts to throw a lifeline to the yen after it dropped to its lowest mark against the USD in 38 years. The Japanese Ministry of Finance published data on Wednesday 31 July 2024 showing that the government paid out 5.53tn JPY – the equivalent of roughly $36.8bn –…
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According to the terms of Paramount’s merger deal with Skydance Media, it has 45 days to consider other acquisition and merger deals. Based on Reuters data, Apex, a holding company and investor, indicated that it had made a bid for all the shares held by National Amusements, which has the majority stake in Paramount. This…
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The Rex services that have been grounded are the Boeing 737 flights between capital cities, including Melbourne, Sydney and Brisbane. While ticket sales for those routes are suspended, the company’s regional services are running normally, according to an update on Tuesday from administrators EY. With Qantas and Virgin dominating the Australian air market, budget airline…
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During H1 2024, Spectrum recorded 1.2 million trades. Its order book turnover declined by 15%, coming in at €1.5bn as opposed to the €1.7bn reported in H1 2023. Spectrum maintained that it remains resilient and focused on strategic growth despite this drop. The platform expanded its product range with approximately 1,800 exchange-traded funds (ETFs). Investors…
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According to media reports, the competition watchdog wants to determine if the partnership resulted in a “relevant merger situation” and if this would cause “substantial lessening of competition”. The CMA indicated that it invited comments from interested parties before launching its investigation. According to CNBC, a spokesperson for Anthropic said that the company will cooperate…
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A global drop in sales of 1% was recorded in the second quarter of 2024 compared to 2023’s numbers. Analysts had expected a 0.5% increase. Revenue grew by 1% overall in the quarter. Net profit dropped to $2.02bn, which is a fall of 12%. Meanwhile, its earnings per share declined by 6% to $2.97. Chief…
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In a press statement dated 26 July 2024, the CFTC said Tinoco and his company must “jointly and severally” pay restitution of more than $6.2m to 199 defrauded customers and just under $6.3m in disgorgement “with dollar-for-dollar credit for any restitution payments to victims”. The civil monetary penalty is more than $18.7m. The court also…
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The watchdog will be focussing on the prices that are shown as “was” as “now”, suggesting that purchasers are getting a lower price than the regular cost of the item. This issue has arisen over concerns that customers may not get the savings advertising makes them believe they are. It’s the latest part of an…
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In its press statement, Sage said that the Stripe deal will help its customers – “ranging from startups to enterprises” – to make and get payments faster. The company added that “millions” of businesses know and trust Stripe, and by harnessing this infrastructure, Sage can simplify and expedite cash flow processes. The fintech believes that…
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