Business

Peers call for universal credit boost to be made permanent

A Lords committee has urged the government to make permanent an increase in the value of universal credit benefits to address poverty and job losses triggered by the coronavirus pandemic. In a report calling for a “new deal” for jobs to prevent a surge in unemployment next year, the Lords economic affairs committee said there […]

Business

Google was hit with massive outage, including YouTube, Gmail and Google Classroom

Google’s services went down for about an hour Monday in a massive outage that prevented many people from watching YouTube videos, accessing their Google Docs or sending email on Gmail. The outage also made Google Classroom temporarily unavailable, preventing many students learning remotely from accessing their classes.A little after 8 am ET, most of Google’s […]

Business

Tata-Mistry Case: CJI SA Bobde Discloses His Son Appears for Shapoorji Firm, Lawyers Say No Objection

Chief Justice of India Sharad Arvind Bobde, who is heading the bench hearing the high-stake Tata-Mistry case on Monday disclosed that his advocate son Shrinivas Bobde, has been representing a subsidiary company of Shapoorji Pallonji Group in a slum redevelopment matter for about two years. The top court is hearing cross appeals filed by Tata […]

Business

EA snaps up racing game developer Codemasters in $1.2 billion deal

Electronic Arts has leapfrogged one of its rivals with a $1.2 billion deal for UK video game developer Codemasters. EA (EA) said in a statement on Monday that it will pay £6.04 ($8.10) per share for the producer of racing games including Formula One and DIRT. That’s roughly 14% more than November’s cash and share […]

Business

Chinese state-owned companies are in trouble. That could hurt the global recovery

Chinese state-owned companies are starting to default on their debts. It’s a problem that could ripple through the country’s financial system, threatening to slam the brakes on the nation’s economy and hobble the global recovery from the pandemic. State firms defaulted on a record 40 billion yuan ($6.1 billion) worth of bonds between January and […]

Business

Burger King’s India franchise soars 125% on stock market debut

Burger King’s Indian franchise has pulled off a whopper initial public offering. Shares in Burger King India opened at 112.5 rupees ($1.53) per share on their first day of trading Monday in Mumbai, nearly double the IPO price of 60 rupees (about 80 cents). The stock later shot up even further, closing at 135 rupees […]

Business

Reddit is buying TikTok rival Dubsmash

Message board juggernaut Reddit is accelerating its push into video, snapping up a sharing platform that is popular with young people and women. Reddit said in a statement on Sunday that it has acquired TikTok rival Dubsmash. It did not disclose the financial terms of the deal.Dubsmash allows users to create and share video content, […]