English club football officials are racing to agree on a rescue package funded by the Premier League, the country’s top division, to save smaller professional teams after the UK government refused to bail out the sport. Crisis talks were held this week between chief executive Richard Masters and Rick Parry, chairman of the English Football League, which runs lower tiers.
Nancy Pelosi, the Democratic speaker of the US House of Representatives, pleaded for US airlines to halt their plans to cut thousands of jobs, telling them that further fiscal support would come soon. “I am calling upon the airlines to delay their devastating job cuts as relief for airline workers is being advanced in Congress,” she said.
MGM’s No Time To Die, the last outing for Daniel Craig as British secret agent James Bond, has been postponed to next year as the coronavirus pandemic wreaks havoc on Hollywood. The $250m film, the 25th in the Bond franchise, had been scheduled to debut on November 20 but is being pushed back for a second time.
Small businesses will have to wait several more months to discover if their insurance will pay out for coronavirus disruption, after insurers and the UK regulator indicated they would take disputed claims all the way to the Supreme Court. At a hearing on Friday, lawyers for the Financial Conduct Authority and two policyholder action groups won clarifications on their right to claim.
Superdry chief executive Julian Dunkerton bought £1.57m-worth of the company’s shares after it released its annual results, in which the UK premium clothing retailer’s losses fell further as a result of the coronavirus pandemic. Pre-tax losses deepened to £167m, from £89m last year while revenues fell by nearly a fifth to £704m, which the company attributed to the pandemic.
Uber has sold a stake in its freight business to outside investors, as it looks to pare its exposure to non-core ventures and recover from a hit to its ride-hailing business during the pandemic. Greenbriar Equity led a group of investors committing $500m to Uber Freight, the companies announced, as the equity investment valued the division at $3.3bn.
Video game developer Sumo has benefited from the surge in gaming during the pandemic, launching seven games in the first half of 2020, including four for which it owns intellectual property, and seeing adjusted cash profits rise 15 per cent year-on-year to £6m. The margin did take a hit, contracting 2.3 percentage points to 22.8 per cent.
Amazon is expanding its operations in Singapore, in the latest sign of the city-state’s growing appeal as an Asian hub for global technology companies. The US technology group will take over three floors of Citigroup’s offices, as the US bank moves employees to Changi as it adjusts operations following the pandemic.