02 August

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Blackstone and Hudson Pacific plan $1 billion film studios in UK By Reuters

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LONDON (Reuters) - U.S. firms Blackstone (NYSE:BX) and Hudson Pacific Properties said they planned to create a major film, TV and digital production complex in Broxbourne, north of London, in the first overseas expansion of their Sunset Studios platform. Funds managed by the two companies had acquired a 91-acre site, 17 miles from central London, for 120 million pounds, they said on Sunday, adding that the total investment would be more than 700 million pounds ($975 million). Subject to planning permission, they said they would build a world-class film and television studio campus, creating more...

02 August

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Square to buy Afterpay for $29 billion as buy now, pay later booms By Reuters

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By Shashwat Awasthi and Paulina Duran (Reuters) -Square Inc on Monday said it has agreed to purchase buy now, pay later (BNPL) pioneer Afterpay Ltd to create a global online payments giant, offering a 30% premium in a share-swap deal that is set to be Australia's biggest-ever buyout. Created in 2014, Afterpay has been the bellwether of the niche no-credit-checks online payments sector that burst into the mainstream last year as more people, especially youngsters, chose to pay in instalments for everyday items during the pandemic. Burgeoning popularity, quick uptake among users and loose regulation...

02 August

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Asian shares weighed down by China worries as U.S. earnings shine By Reuters

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By Wayne Cole SYDNEY (Reuters) - Asian shares face another tough week as Beijing's regulatory crackdown fans fears about China's economy, though upbeat economic data in the United States and Europe and solid corporate earnings put a floor under their markets. China's woes were underlined over the weekend by a survey showing factory activity grew at the slowest pace in 17 months amid rising costs and extreme weather. In contrast, Europe's economic recovery outpaced all expectations last quarter, while U.S consumers spent with abandon in June as coronavirus restrictions eased, a trend likely to ensure a...

01 August

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Aviation heavyweights flock to U.S. grassroots air jamboree to fill pilot shortage By Reuters

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By Tracy Rucinski OSHKOSH, Wis (Reuters) - The wings of a Boeing (NYSE:BA) 737 MAX airliner swept over green fields populated by colorful small planes, lending a rare corporate touch to the world's largest grassroots air show this past week. EAA AirVenture brought together more than half a million aviation enthusiasts and thousands of vintage or homebuilt aircraft and aerobatic showstoppers to Oshkosh, Wisconsin, for a celebration dubbed the Woodstock of aviation. For one week, the annual summer event becomes the world's busiest airspace with well over 100 takeoffs or landings every hour. With marquee events...

01 August

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UK finance minister presses for travel rules easing – report By Reuters

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LONDON (Reuters) - Britain's Finance Minister Rishi Sunak has pressed for an easing of travel restrictions to offer respite to the tourism sector amid concerns that the country is not reaping the benefit of its vaccination programme, the Sunday Times reported. Sunak had written to Prime Minister Boris Johnson warning of the impact that Britain's strict border controls were having ahead a meeting of ministers on Thursday to consider changes, the newspaper said, citing a source familiar with the letter. The Treasury declined to comment. England last month lifted the requirement for fully vaccinated Britons returning...

01 August

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Zoom reaches $85 million settlement over user privacy, ‘Zoombombing’ By Reuters

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By Jonathan Stempel (Reuters) -Zoom Video Communications Inc agreed to pay $85 million and bolster its security practices to settle a lawsuit claiming it violated users' privacy rights by sharing personal data with Facebook (NASDAQ:FB), Google (NASDAQ:GOOGL) and LinkedIn, and letting hackers disrupt Zoom meetings in a practice called Zoombombing. A preliminary settlement filed on Saturday afternoon requires approval by U.S. District Judge Lucy Koh in San Jose, California. Subscribers in the proposed class action would be eligible for 15% refunds on their core subscriptions or $25, whichever is larger, while others could receive up to...

01 August

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Airbus production plans expose strategy rift with engine makers By Reuters

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By Tim Hepher PARIS (Reuters) -A rift between Airbus and engine makers over plans for higher jet output blotted strong aerospace earnings this week, with worries over the supply chain's industrial capacity masking a deeper tug of war over contrasting business strategies. With travel demand snapping back in key U.S. and Chinese markets, Airbus wants to almost double jet production in a few years as it capitalises on a bulging order book for new jets and the recent woes of embattled U.S. rival Boeing (NYSE:BA). In May, it issued a mix of firm targets and scenarios...

01 August

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Private equity firm CD&R readies Morrisons counter-bid – report By Reuters

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LONDON (Reuters) -Private equity firm Clayton, Dubilier & Rice (CD&R) is poised to start a bidding war for British supermarket chain Morrisons, the target of a 6.3 billion-pound ($8.8 billion) offer from a group led by another U.S. buyout firm, Fortress, the Sunday Times reported. The newspaper said CD&R was understood to have been preparing equity and debt financing for a counter-bid which could come in the next few days. If successful, CD&R would open Morrisons convenience stores at fuel stations operated by Motor Fuel Group, which the firm owns, and it would work alongside...

01 August

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Discovery exploring takeover bid for UK’s Channel 4 – The Telegraph By Reuters

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(Reuters) - U.S.-based broadcaster Discovery Inc is holding informal discussions about a potential takeover bid for Britain's state-owned Channel 4 television broadcaster, The Telegraph reported on Saturday. The potential bid process is being managed by UK Government Investments, the paper reported https://www.telegraph.co.uk/business/2021/07/31/olympics-broadcaster-lines-bid-channel-4, adding that a deal was not expected to be completed until the middle of next year. Discovery did not immediately respond to a request for comment. Britain's government on July 6 announced a consultation on the sale of Channel 4, and it was considering changes to the operating model of the broadcaster,...

01 August

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Markets Glued to China’s Politburo Meeting for Policy Clues By Bloomberg

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(Bloomberg) -- After a week of market turmoil, China watchers are looking for signals from a key Politburo meeting this week on whether there’s more pain to come and if the central bank will step in with support. The July meeting of the Communist Party’s top leadership is typically when they review the economy’s performance in the first half and set policy priorities for the rest of the year. It’s taken on heightened significance this time around after authorities roiled financial markets with a spate of regulatory overhauls that tightened the state’s grip on industries from...

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Blackstone and Hudson Pacific plan $1 billion film studios in UK By Reuters

Square to buy Afterpay for $29 billion as buy now, pay later booms By Reuters

Asian shares weighed down by China worries as U.S. earnings shine By Reuters

Aviation heavyweights flock to U.S. grassroots air jamboree to fill pilot shortage By Reuters

UK finance minister presses for travel rules easing – report By Reuters

Zoom reaches $85 million settlement over user privacy, ‘Zoombombing’ By Reuters

Airbus production plans expose strategy rift with engine makers By Reuters

Private equity firm CD&R readies Morrisons counter-bid – report By Reuters

Discovery exploring takeover bid for UK’s Channel 4 – The Telegraph By Reuters

Markets Glued to China’s Politburo Meeting for Policy Clues By Bloomberg

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