Heineken has announced plans to cut nearly 10% of its workforce after a sharp drop in sales due to the coronavirus pandemic. It said 8,000 jobs would go, some of…
Category: Business News
Bumper Harvest: Record Income for Twitter in 2020
Twitter has posted record revenues for the last quarter of 2020, capping off what its chief executive said was “an extraordinary year” for the platform. The social messaging platform said…
Bitcoin: Elon Factor pushes Bitcoin to record high
Bitcoin has hit record highs for a second day after Elon Musk’s car company Tesla said it had bought about $1.5bn (£1.1bn) of the cryptocurrency. Bitcoin rose above $48,000 (£34,820)…
The Elon Factor: Bitcoin spikes as Tesla buys $1.5bn of the currency
Tesla has reported it bought about $1.5bn (£1.1bn) of the cryptocurrency Bitcoin in January and expects to start accepting it as payment in future. The news caused the price of…
Economic Reform: Cuba opens up its economy to private businesses
Cuba has announced it will allow private businesses to operate in most sectors, in what is a major reform to its state-controlled economy. Labour Minister Marta Elena Feito said the…
Broadcasting: Chinese broadcaster CGTN’s UK licence revoked
China’s state-owned broadcaster has had its licence to broadcast in the UK revoked by media watchdog Ofcom. Ofcom said the company that owns the UK licence for China Global Television…
Covid Chaos: Royal Dutch Shell suffers major loss as Covid dries up demand
Oil giant Royal Dutch Shell sank to a net loss of $21.7bn (£16bn) last year after the coronavirus pandemic caused demand to slump. The announcement comes after two of its…
The Elon Factor: Dogecoin takes off after tip by Elon Musk
Dogecoin, a cryptocurrency which started off as a joke, has jumped in value by 50% after inventor Elon Musk dubbed it “the people’s crypto”. Cryptocurrencies such as Dogecoin and Bitcoin…
Covid Chaos: Exxon realises first loss in decades as pandemic drives demand down
Oil giant Exxon Mobil suffered its first annual loss in decades last year as the pandemic prompted energy use to plunge. The firm lost $22.4bn (£16.4bn) as energy prices dropped…
The Fish Wars: EU bans UK shellfish imports
The EU has told British fishermen they are indefinitely banned from selling live mussels, oysters, clams, cockles and scallops to its member states. As the UK is now a separate…