Netflix Inc shattered hopes for a speedy recovery on Thursday by expecting dismal first-quarter subscriber growth, sending shares down nearly 20 per cent and wiping out most of the company’s remaining gains made during the pandemic in 2020. According to Refinitiv IBES statistics, the world’s largest streaming service expected to attract 2.5 million members from January to…
Sony’s stock has plummeted in Tokyo trading after Microsoft announced its intention to buy Activision Blizzard, a major video game publisher. The $68.7 billion transaction would be Microsoft’s largest ever buyout and the largest gaming agreement ever. The deal would give the US company control of popular gaming properties such as Call of Duty, Warcraft,…
Amazon has suspended its plans for blocking UK Visa credit card payments this week even as the two parties work out a payment fee issue. “The expected change regarding the use of Visa credit cards on Amazon.co.uk will no longer take place on January 19,” Amazon said. It was “working closely to reach an agreement”,…
Antonio Horta-Osorio, the chairman of global banking behemoth Credit Suisse, has resigned with immediate effect after violating Covid-19 quarantine restrictions. Horta-Osorio had only been with the bank for nine months and he quit her job after an internal probe. After a series of crises at Credit Suisse, the former CEO of Lloyds Banking Group had…
While it waits for the construction of its long-delayed U.K. headquarters to be completed, Google has purchased a bright office space in London for $1 billion. The internet behemoth revealed on Friday that it has purchased the entire Central St. Giles building in London’s West End, where it already has a number of floors. Google…
According to British Petroleum, its quick electric vehicle charges are about to become more profitable compared to filling up a gasoline automobile. The achievement will be significant for BP, which is looking to diversify its business away from oil and towards power markets and electric vehicles (EV). EV charging has been a loss-making business for BP…
According to a research, North Korean hackers stole about $400 million in digital assets through as many as seven attacks on cryptocurrency platforms last year. Cyber-criminals in the secretive east Asian country had one of their most successful years on record for hacking last year, according to blockchain analysis firm Chainalysis. Investment firms and centralised exchanges were the…
As many as 44 million used of Facebook in the United Kingdom could share £2.3 billion in damages, according to a competition expert planning to sue Facebook’s parent company Meta. Meta “abuses its market dominance,” according to Dr. Liza Lovdahl Gormsen, by charging an “unfair price” for free use of personal data of users of Facebook’s…
The cruise company that is currently in a lot of financial trouble, Genting Hong Kong, witnessed its stock drop by more than 50 per cent following the firm announcing that it might not be able to fulfill its debts and other obligations. After a four-day hiatus, trading resumed on Thursday. “There is no certainty that the Group will…
Online sales during the holiday season rose nearly 9% to a record $204.5 billion, Adobe Analytics said Wednesday, as consumers opened up their wallets to spend on gifts for family, friends, and for themselves. But the uptick in sales was driven, in part, by higher prices on goods from apparel to groceries to appliances, said…
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