August, 2020

• 23 August

  Software firms gear up to reveal books ahead of busy IPO season

  

  Bloomberg Silicon Valley software notables — Unity Technologies Inc., Snowflake Inc. and Asana Inc. — are set to disclose their financials as soon as next week ahead of September trading debuts, according to people familiar with their plans. Palantir Technologies Inc., which also is planning to go public in late September through a direct listing, is nearing disclosure of its …

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• 23 August

  Facebook asks FTC how to avoid another Cambridge Analytica

  

  Bloomberg Facebook Inc. told the Federal Trade Commission (FTC) that the social-media company needs clear guidance on how to comply with new laws that grant consumers the right to transfer their data, without running afoul of user privacy. Regulators in Europe and California have ruled that consumers have the right to collect and move their personal information to new websites …

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• 23 August

  Warner Bros releases new Batman video game

  Bloomberg Warner Bros. Interactive Entertainment announced the much-anticipated Gotham Knights, the first new Batman game in five years. The game will be out in 2021. During the event, developers showed footage of Batgirl and other superheroes fighting through Gotham in a setting where Batman is dead. Warner Bros. had been teasing Gotham Knights for nearly a year through Twitter posts …

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• 20 August

  US cancels China trade talks, raising questions over deal

  

  Bloomberg President Donald Trump said he called off last weekend’s trade talks with China, raising questions about the future of a deal that is now the most stable point in an increasingly tense relationship. “I cancelled talks with China,” Trump said in Yuma, Arizona. “I don’t want to talk to China right now.” The phase-one trade deal, which came into …

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• 20 August

  Equinor unit signs deal to sell power

  

  Bloomberg A giant wind farm being developed off the coast of the UK will sell some of its power to energy trader Danske Commodities A/S. Under the 15-year deal, the subsidiary of Equinor ASA will trade and balance power from 480 megawatts of the Dogger Bank wind farm, about 13% of its capacity. It’s a key step as the developers …

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• 20 August

  Iraq to sign MOU with Chevron to explore oil

  Bloomberg Iraq plans to sign a memorandum of understanding with Chevron Corp to explore for oil in the country’s southern province of Dhi Qar, according to a person familiar with the matter. The deal formalises Chevron’s interest in exploring the eastern and western parts of Nasiriyah, the capital of Dhi Qar, the person said. It would exclude areas of the …

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• 19 August

  Bain’s resurrection of Virgin Australia faces legal obstacle

  

  Bloomberg Bain Capital’s resurrection of collapsed airline Virgin Australia Holdings Ltd faces mounting legal opposition as bondholders rally to derail the takeover and salvage some of their debt. What started weeks ago as a long-shot challenge to Bain’s deal from two little-known investors in Asia has attracted the biggest names in finance. Now UBS Group AG, Deutsche Bank AG and …

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• 19 August

  Boeing to deepen job cuts beyond 10% plan

  

  Bloomberg Boeing Co is preparing to offer buyouts to employees for a second time this year as the virus-stricken planemaker extends its workforce cuts beyond the original 10% target unveiled in April. The “voluntary layoff” will be offered largely to staffers in the company’s commercial airplanes unit, services division and corporate operation, CEO Dave Calhoun said in a message to …

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• 19 August

  Ryanair cuts flights, others weigh capacity amid coronavirus surge

  

  Bloomberg Ryanair Holdings Plc, Europe’s biggest discount carrier, slashed capacity for September and October after demand weakened, and other carriers are weighing similar cuts following a European surge in new virus cases. The Irish discount carrier will reduce the number of flights by 20% in the next two months due to uncertainty among travellers driven by a rise in Covid-19 …

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• 19 August

  Marks & Spencer to cut 7,000 jobs in hit to UK workers

  

  Bloomberg Marks & Spencer Group Plc plans to cut about 7,000 jobs after its clothing business was hit hard by the coronavirus lockdown, adding to the toll of lost employment in the UK retail industry. The move to eliminate about one-tenth of the store chain’s workforce follows a 39% plunge in the clothing and home arm’s sales in the latest …

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