Motorhomes 'missing' after rental firm collapsed

People who lent a motorhome rental business money are facing big losses after it collapsed owing more than £7m. Unbeatable Hire Limited used the loans to buy more motorhomes, promising to give lenders all of their money back and returns of up to 10% a year. But many lenders are out of pocket after the company went into administration and numero...

GM to Tout Electrification Drive, Plug-In Pickup at CES

General Motors Co. Chief Executive Officer Mary Barra plans to provide a peek of upcoming electric vehicles at CES next month and bolster the automaker’s credentials as a rising power in EVs, according to people familiar with the matter. Barra will give the opening keynote address on Jan. 12 for the all-digital expo, formerly known as the Cons...

Samsung says profits are rising, but smartphone competition is fierce

Samsung predicts its profits rose nearly 26% last quarter. That suggests demand for many of its products has kept up during the coronavirus pandemic even as it faces tough competition in the smartphone market. The South Korean conglomerate said Friday that it...

Covid: Marston's to run Brains pubs, saving 1,300 jobs

Marston's is to take over the running of Brains pubs in a bid to save 1,300 jobs in the midst of the coronavirus pandemic. The pub operator will take over the running of all 156 of the brewer's pubs, mainly in Wales. Brains said restrictions during the pandemic had put the business under "significant financial pressure". Chief executive Alistair...

eXtra posts 36% profit rise to $74.8m in FY2020

United Electronics Company (eXtra) reported an estimated net profit after Zakat and tax of SR280.3 million ($74.75 million) for fiscal year 2020, up by 36 percent year-on-year (YoY) due to higher sales across stores and e-commerce. The company also cited increase in gross profit and rise in revenues from consumer finance services. The Q4 2020 ne...

China launches antitrust investigation into Alibaba

China has launched an antitrust investigation into Alibaba (BABA) as it steps up scrutiny of the country's rapidly growing internet firms. The State Administration for Market Regulation, China's top market regulator, said Thursday that it would probe alleged monopolistic behavior by Alibaba, Jack Ma's online shopping and cloud computing gia...

Shuaa Capital buys out Dubai-based Stanford Marine Group's Dh1.13 billion debt

Shuaa Capital on Sunday announced that it has successfully completed a debt buyout of Stanford Marine Group's (SMG) Dh1.13 billion ($308 million) facility, resulting in a successful outcome for all parties involved, including the participating banks. SMG is one of the most prominent and diversified offshore services companies in the Middle East,...

Albaik fried chicken opens first branches outside Saudi Arabia

The west coast’s famous fried chicken has made its way to foreign shores, as one of Saudi Arabia’s most popular fast-food brands Albaik opens two new branches in the kingdom of Bahrain. The company originally made the announcement in November of 2018 via Twitter. “In line with the Kingdom’s Vision 2030, which encouraged local businesses ...

Busting the Faang Oligarchy Is Stimulus Active Funds Could Savor

Frenzied retail buying catapults equity benchmarks to records. A handful of mega-companies dominate, drawing daily warnings about nosebleed valuations. Suddenly a rotation takes hold, reviving left-behind industries while ...

California has given the go-ahead for a commercial driverless delivery service for the first time.

Robotics start-up Nuro plans to start its driverless delivery operations as early as next year. It previously tested its R2 vehicles in the state in April, but the permit will let it charge people for its service. The firm's vehicles will be limited to 35mph (56km/h), and will be restricted to operating in "fair weather" conditions. “Issuing t...
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