Business - Page 141

Epic Games announced today that its work to bring video game mega-title Fortnite to the Chinese market is shutting down. The company said in an official announcement that the long-running test of the popular

Households will remain worse off than they were before the pandemic until 2023, the UK’s independent forecaster has warned. Charlie Bean, an Office for Budget Responsibility (OBR) committee member, told MPs that

Millions of people are set to be worse off next year amid spiralling costs and tax rises, says an economic think tank. The Institute for Fiscal Studies (IFS) said that inflation and

Tesla has reported surging profits, despite shortages of semiconductor chips and congestion at ports hampering production. Sales rose to $12bn (£8.6bn) in the three months to the end of June, up from

A digital token inspired by the popular South Korean Netflix series Squid Game has lost almost all of its value as it was revealed to be an apparent scam. Squid, which marketed

Lyft reported Tuesday its second consecutive quarter of adjusted profitability as riders returned to the U.S. ride-hailing company’s service. The ride-hailing service, which competes with Uber in the ride-hailing business, reported revenues of $864.4

Shares in Kakao Pay, the fintech unit of South Korea’s largest messaging app operator Kakao Corp, closed up 114% in its market debut on Wednesday. The Ant Financial-backed company ended day one of

Borrowing money in the UK is now as cheap as it ever was – and it’s been that way for years. But perhaps not for much longer. The country’s main interest rate,

Una Brands, the e-commerce aggregator focused on Asia-Pacific brands, announced today it has raised $15 million for its Series A. The full-equity round was co-led by White Star Capital and Alpha JWC,

ShopBack, the Rakuten-backed e-commerce loyalty platform, announced today it will acquire buy now, pay later startup Hoolah. Both companies are based in Singapore and operate in Southeast Asian markets. The deal was done

Electric vehicle startup Rivian hopes to raise up $8.4 billion in its initial public offering, according to a regulatory filing posted Monday. The company, which is backed by Amazon, said in the filing that it

Ryanair says it is expecting to cut fares this winter to help boost passenger demand. While the airline has seen business picking up recently, it warned it was still recovering from the