Business Pandora, a jeweller located on Oxford Street, has said that the rumors that the popular shopping destinational street is dying are wrong. They said the footfall numbers had not dropped significantly and claimed that the street has been successful in adapting to modern trends like updates to commercial shops and online shopping. Oxford Street is still seen as an attractive shopping location with plenty of potential for businesses. Alexander Eastwood 28/08/2023
Business Natura & Co, the Brazilian beauty company that owns Avon and The Body Shop, is looking into the potential sale of The Body Shop. This follows a takeover deal for the company earlier this year, in which Natura & Co acquired The Body Shop from its former owner, L’Oreal. The potential sale would provide Natura & Co with funds to continue investing in its e-commerce operations. Alexander Eastwood 28/08/2023
Business Danaher Corporation announced it has agreed to purchase Abcam, a biotechnology company, for $24 a share, in an all-cash deal. Danaher expects Abcam to become part of their Life Sciences segment, supplementing their product offerings for customers. This deal is expected to be completed by the end of 2019. Alexander Eastwood 28/08/2023
Business China Evergrande’s shares fell 79% on its first day of trading since it was allowed back into the stock market, following cries of debt default. This is a result of mounting investor concerns about the company’s ability to resolve its large debt, which has caused a crisis in the Chinese stock market. The Chinese government had banned Evergrande from trading in December 2019 to pressure the company to resolve its debt issues. Alexander Eastwood 28/08/2023
Business 3M recently settled a lawsuit with Chinese-based XPeng, purchased 62% of Rite Aid’s shares, and readied its stocks for trends on Monday morning. 3M had plans to execute their strategies for future growth in digital healthcare and consumer demand. The company demonstrated its commitment to these initiatives with their various deals. Alexander Eastwood 28/08/2023
Business Alibaba and JD.com are two Chinese companies that recently saw their stock price rise in the Hong Kong stock exchange. Both companies exited a period of volatile trading in August due to the trade war with the US and looks to be stabilizing as of now. This rise in stock price has been viewed as an overall positive sign for the Chinese economy. Alexander Eastwood 28/08/2023
Business A technical problem caused the UK’s air traffic control system to shut down, leading to the delay of thousands of flights across the country on December 12th. The problem was fixed after only an hour, but many people still faced long delays due to the disruption. No specific cause for the technical issue has been found. Alexander Eastwood 28/08/2023
Business Fidelity Investments CEO Abigail Johnson is a champion of the cryptocurrency sphere, saying that the company will be “doubling down” on its efforts to incorporate crypto and related technologies. She also expressed the desire to make customer access to the emerging asset class easier with the same level of convenience as to equities and other investments. Johnson, in her remarks, believes that crypto and blockchain are the future of finance. Alexander Eastwood 28/08/2023
Business Tesla recently unveiled their plan to collaborate with the Chinese rival company Xpeng and car-hailing giant Didi Chuxing to create a new ride-sharing/electric car business style. This business style integrates technology, app market, and automotive brands like Volkswagen. This new venture will help Tesla compete with car makers from each country in the electric car market in the near future. Alexander Eastwood 28/08/2023
Business FTXS Bankman & Fried chairman Laurence Nunn recently appealed a judgement from the U.S Home Equity Court that denied their motion for a temporary restraining order. The order was requested in order to prevent them from using a “roadshow” due to its allegedly misleading nature. The judgement has been sent to the Appeals Court with a decision pending. Alexander Eastwood 28/08/2023
Alexander Eastwood