Business

StanChart moves to permanent flexible working

Standard Chartered will make permanent the flexible working arrangements for most employees that were put in place during the coronavirus pandemic, it said on Thursday. The Asia, Africa and Middle East-focused bank said it aims for around 50% of its markets, comprising around 70% or 60,000 of its employees, to be able to adopt hybrid […]

Business

New York Times warns of easing growth after news storm boosts results

The New York Times NYT.N warned on Thursday its robust digital growth may not be sustainable going ahead, easing expectations after reporting a strong quarter that benefited from a news coverage storm around the COVID-19 pandemic and the U.S. election. The company’s shares fell 5% on the sobering outlook, even as it achieved the key […]

Business

Alibaba beats sales forecasts on China e-commerce growth

Alibaba Group beat third quarterly revenue estimates on Thursday, driven by e-commerce growth after China emerged from coronavirus lockdowns, and said it was assessing the suspension of its affiliate Ant Group’s listing. China’s surprise suspension of Ant Group’s planned $37 billion Shanghai initial public offering (IPO) was seen by some analysts and investors as an […]

Business

Lloyd’s of London ditches plan to create its own electronic exchanges

Lloyd’s of London has dropped ambitious plans to set up its own electronic exchanges and will work with other existing platforms to speed up the underwriting process and cut costs, the commercial insurance market said on Thursday. Lloyd’s said last year that it planned to launch two electronic exchanges covering simple and complex insurance deals. […]

Business

TikTok owner ByteDance in fundraising talks that will value it at $180 billion

TikTok-owner ByteDance is in early talks to raise a new round of financing that will value it at $180 billion after the investment, according to two people familiar with the matter. The company is discussing the round with existing investors including Sequoia Capital and General Atlantic to raise around $2 billion for the company, the […]

Business

UK’s Sunak boosts 200 billion-pound jobs rescue as BoE ramps up bond-buying

Finance minister Rishi Sunak ploughed more money into Britain’s 200 billion-pound ($262 billion) economic rescue on Thursday in a coordinated move with the Bank of England, which will buy more of the bonds being sold to fund it. A widespread surge in coronavirus infections has forced Prime Minister Boris Johnson to announce a new one-month […]

Business

AstraZeneca aims to bring non-U.S. vaccine data before the FDA

AstraZeneca will start discussing emergency approval of its experimental COVID-19 vaccine with U.S. regulators once it has good trial data from Britain, South Africa and Brazil, as it has no indication the watchdog would favour U.S. data. If and when AstraZeneca reaches the first statistically reliable efficacy and safety results from those trials, based on […]