UK economy suffered record annual slump in 2020. The UK economy shrank by a record 9.9% last year as coronavirus restrictions hit output, official figures show. The contraction in 2020…
Category: Business News
Retaliation:China bans BBC World News from broadcasting
China has banned BBC World News from broadcasting in the country, its television and radio regulator announced on Thursday. China has criticised the BBC for its reporting on coronavirus and…
No more Fenty: Rihanna’s Fenty fashion label to close down
Luxury goods group LVMH and singer Rihanna have agreed to shut down her Fenty fashion label after less than two years in production. However, the Savage X Fenty lingerie line…
Green Future:Denmark to build energy island in North Sea
A project to build a giant island providing enough energy for three million households has been given the green light by Denmark’s politicians. The world’s first energy island will be…
Crunch: Heineken cuts 8,000 jobs due to low sales
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…
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…