X, the social media platform formerly known as Twitter, is hiring again after slashing more than half of its workforce following its acquisition by Elon Musk. The company’s CEO, Linda Yaccarino, said in an interview with CNBC on Thursday that the company is shifting from cost-cutting to growth mode. “I get to come in and…
Disney hikes streaming prices and cracks down on password sharing
Disney, the entertainment giant, has announced that it will raise the prices of its ad-free streaming services, Disney+ and Hulu, by $3 per month, starting from October. The company also said that it will intensify its efforts to stop password sharing among its subscribers, which could generate more revenue in the long term. The price…
Mortgage rates fall as lenders compete for customers
Mortgage rates have fallen for the first time in two months, as several lenders have reduced their costs across both residential and buy-to-let ranges. The move could benefit homebuyers and homeowners who are looking to remortgage or switch to a better deal. According to Moneyfacts, a financial data provider, the average rates on two-year and…
National World eyes Telegraph Media Group as potential acquisition target
National World, the owner of the Yorkshire Post, the Scotsman and more than 100 other regional newspapers and websites, has expressed its interest in buying the Daily Telegraph and its sister titles, including the Sunday Telegraph and the Spectator magazine. The company, which was founded by former Mirror executive David Montgomery, said in a statement…
Tapestry to acquire Capri Holdings in a $8.5 billion deal to create a global luxury house
Tapestry, the parent company of Coach, Kate Spade and Stuart Weitzman, announced on Thursday that it has agreed to buy Capri Holdings, the owner of Michael Kors, Versace and Jimmy Choo, in a cash deal valued at $8.5 billion (€7.7 billion). The deal will create a new powerful global luxury house with six iconic brands…
Barretts Bakery, a popular Perth chain, faces liquidation over $2m tax debt
Barretts Bakery, a well-known bakery chain that has been operating in Perth for over 25 years, is in danger of being liquidated after owing $2 million to the Australian Taxation Office (ATO). The chain, which has seven stores across the city, was placed under administration on July 27, according to a notice published by ASIC1. The…
Abivax announces plans to conduct registered public offering in the United States
PARIS, FRANCE: Abivax, a French biotechnology company that develops novel treatments for inflammatory diseases, viral diseases and cancer, announced today that it intends to launch a public offering of its shares in the United States. The company has filed a confidential draft registration statement with the U.S. Securities and Exchange Commission (SEC) for the offering…
Southern Rail plans to scrap direct trains to Gatwick Airport
Southern Rail has announced proposals to change its West Coastway timetable, which would affect passengers travelling between Southampton and Gatwick Airport. Under the new plans, direct trains from Southampton Central to London’s second-biggest airport would be axed, and passengers would have to change at Barnham. The operator says this would improve reliability and capacity on…
Fig and Fox to open new outlets for their eco-friendly gift shop
Fig and Fox, a gift and lifestyle shop that sells locally made and environmentally friendly products, is expanding its business with two new outlets this year. The shop, which opened in The Hundred in Romsey in October, is run by James and Helen Mitchell, a couple from East Wellow. The first new outlet will be…
Wilko faces administration as home delivery service suspended, 12000 jobs at risk
The future of Wilko, the family-owned homewares and hardware retailer, is in doubt as it faces administration after failing to secure a rescue deal. The company, which has more than 400 stores and 12,000 employees in the UK, confirmed last week that it had filed a notice of intention to appoint administrators, giving it 10…
Harbour Energy to sell Vietnam business for $84 million
LONDON, UK: Harbour Energy has entered into Sale and Purchase Agreements to sell its business in Vietnam, which includes its 53.125 per cent interest in the Chim Sao and Dua producing fields, to Big Energy Joint Stock Company for a consideration of $84 million. The transaction, which is subject to government approvals, has an effective…
IKEA to open downtown San Francisco store amid retail exodus
IKEA, the global furniture giant, is set to open a new store in downtown San Francisco on August 23, the company announced on Tuesday. The store will be located at 945 Market Street, near the Powell Street BART station, and will be part of a new urban mall developed by Ingka Centres, an IKEA-affiliated company….