Markets
UK GDP growth plunges to -20% in April
In April the economy was around 25% smaller than in February. This decrease was 24.5% less than in April 2019. However, some economists fear that the worst is yet to come and expect an even bigger economic slump in the April-June quarter, possibly plunging the United Kingdom into a deep recession. [Full Article...]
Grubhub acquisition sets up delivery duel with Uber
Just Eat Takeaway's offer for Grubhub sidelined a possible deal with Uber , which had been in acquisition talks with Grubhub for months but was derailed by disagreement over certain issues. Food delivery has been one of the few sectors to benefit from the pandemic this year, thanks to people spending more time at home. "Considering that it took legislative motion to undo Grubhub's faulty... [Full Article...]
Coronavirus vaccine: Europe's Inclusive Vaccines Alliance strikes giant agreement with AstraZeneca
Four EU countries struck a deal with pharma giant AstraZeneca for the supply of at least 300 million doses of a COVID-19 vaccine that is now being tested by the University of Oxford. "Our phase I/II study shows CoronaVac is safe and can induce immune response". At a meeting of EU Health Ministers on Friday, IVA agreed to merge its activities with those of the EU Commission, Germany's Health Mi... [Full Article...]
Band-Aid launching bandages in ranging skin tones to promote inclusivity
In 2005, actually, Band-Aid did launch a line with multiple skin tones called Perfect Blend, but it was discontinued "due to lack of interest", the spokeswoman said, adding: "We are excited to bring back a similar product with improved comfort and flexibility". [Full Article...]
Apple CEO Tim Cook pledges $100 million toward racial justice
Cook's initiative follows a number of other corporate efforts to fight racism. Cook stated that Apple would be forming a partnership with the Equal Justice Initiative which is a nonprofit group providing legal representation to prisoners who they believe have been denied a fair trial. [Full Article...]
UK Finance Minister hints towards review of distancing rule
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However, Sunak stressed that while he understands there are concerns from some businesses about the rule, health and safety must come first. As per the latest reports, UK's economy shrank by a quarter over March and April. "It is important we look at it comprehensively in the round and that is what we will do urgently". People should feel confident that it is safe to go shopping when non-ess... [Full Article...]
Facebook's Giphy Deal Draws UK Competition Watchdog's Attention
Facebook's acquisition of popular GIF internet site Giphy will be scrutinised by the United Kingdom's competition watchdog for possibly reducing competition. The UK Competition and Markets Authority (CMA) published a statement today (12 June) saying that any actions related to the acquisition will not be allowed unless Facebook has consent from the CMA. [Full Article...]
Petrol, diesel prices increase for eighth day in a row
Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others. Surjewala alleged that between 2014-15 and 2019-20, the Modi government has hiked taxes on petrol and diesel 12 times and has collected a whopping Rs 17,80,056 crore. [Full Article...]