Royal Mail pre-tax profits hit £726M amid COVID-fueled online shopping

Royal Mail pre-tax profits hit £726M amid COVID-fueled online shopping

Pre-tax profits of British multinational courier firm, Royal Mail, reportedly spiked to £726 million in the latest financial year to 28th March 2021. This is in comparison to a profit of £180 million which was recorded a year earlier.

According to sources close to the matter, these figures are attributed to the pandemic-fueled boom in online shopping. The COVID-19 pandemic offered an upsurge in the demand for the delivery of parcels and triggered a turnaround in the fortunes of the company.

As per Royal Mail, trading stayed strong in April, which is the first month of the new financial year. Valuations depicte

Automotive Coatings Market Business Growth, Analysis, 2015-2026

Automotive Coatings Market Business Growth, Analysis, 2015-2026

Automotive coatings market is anticipated to register tremendous gains over the coming years owing to rising demand for low maintenance vehicles and increasing trend of vehicle customization. The ongoing rise of the electric vehicles sector, shared mobility, and self-driving cars would significantly transform the automotive industry's profitability sources. According to the World Economic Forum, through the forthcoming years, the overall automotive market structure is expected to shift as ride-hailing firms, suppliers, tech giants, as well as cities and bigger mobility ecosystems look to establish a sustainable mobility infrastructure.

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Leather Chemicals Market by Production, Sales and Revenue 2015 - 2026

Leather Chemicals Market by Production, Sales and Revenue 2015 - 2026

In terms of region, Asia pacific is the most promising growth regions in leather chemicals market. With growing domestic industry and relatively inexpensive manufacturing and labor costs has resulted in Asia Pacific being dominant exporter of final products. Countries such as China, India, and Vietnam are major producers due to the presence of numerous small to medium scale manufacturers.

European countries are also anticipated to gain substantial ground in value chain primary due to presence of major fashion and automobile brands. With major luxury apparel brands such as LVMH and Kering, market for leather is on the rise. European brands are also witnessed with high emphasis on quality and luxury, with higher per capita incomes

Tencent to face possible hit as part of antitrust clampdown in China

Tencent to face possible hit as part of antitrust clampdown in China

Chinese company Tencent and its majority-owned arm, Tencent Music Entertainment, are reportedly facing a potential hit in China as part of an antitrust clampdown by the regulators of the nation.

As per sources, the company was under investigation by anti-competitive watchdogs in China, a couple of years ago. Then, it was alleged of striking exclusive licensing deals with three prominent record companies in the Chinese territory.

These agreements of Tencent Music with Sony Music, Universal Music, and Warner Music allowed TME for licensing the music of the majors for its own platforms and also provide exclusive sub-licensing of these

Apple faces lawsuit over the way customers can buy TV shows, movies

Apple faces lawsuit over the way customers can buy TV shows, movies

American multinational company, Apple, is reportedly facing a putative class action in Sacramento, California. The lawsuit comes over the way Apple consumers can “rent” or “buy” TV shows, movies, and other content in the iTunes Store.

As per the Lead Plaintiff in this suit, David Andino, the distinction is deceiving. He alleged that Apple retains the right for terminating access to what has been purchased by consumers and has, in fact, done so on several occasions.

Sources cite that the tech giant has tried ways of slipping away from claims of unfair competition and false advertising. For instance, it tried t

Netflix sees decline indicating the end of the pandemic streaming boom

Netflix sees decline indicating the end of the pandemic streaming boom

Netflix is reportedly predicted to see the lowest number of fresh subscriptions in the first quarter this year since the past four years, possibly hinting the end of the boom in home entertainment brought about by the pandemic, experts predict.

Netflix hit more than 200 million subscribers last year amidst the pandemic as people resorted to streaming platforms to beat boredom. Typically, the company’s first quarter sees a rise in new subscribers as families in leading markets like Europe and North America look for entertainment to bear the winter weather.

As per reports, for 2021, Netflix’s forecasts predict 6 million ne

VCNI to expand presence in Latin America with Chilevisión acquisition

VCNI to expand presence in Latin America with Chilevisión acquisition

U.S. diversified multinational mass media conglomerate- ViacomCBS has reportedly announced that ViacomCBS Networks International (VCNI) is reportedly acquiring Chilevisión- a Chile-based free-to-air television channel from WarnerMedia, a division of AT&T.

Notably, the deal expands VCNI’s footprint in Latin America and boosts its streaming business with a new premium content library along with a pipeline to fuel the rising demand for Spanish language content across various platforms that include Pluto TV and Paramount+. The purchase will benefit both the consumers and the partners by providing diverse entertainment options across free, pay, and premium pl

Now Money bags $7Mn in funds to expand operations in Saudi Arabia

Now Money bags $7Mn in funds to expand operations in Saudi Arabia

The investment will primarily be used to support Now Money in Saudi Arabia, with local infrastructure and new hires in Riyadh

Dubai-based Now Money, the GCC’s first digital banking system for low-income migrant workers, has reportedly raised USD 7 million in the latest funding round led by Anthemis Exponential Ventures – a leading venture investor.

Source close to the news claim that the funding round saw participation of other investors like DIFC FinTech, Wamda, Knuru Capital, Accion Venture Lab, Commercial Bank of Dubai, Hambro Perks Oryx Fund, and Greenhouse Capital.

UK-based online car seller Cazoo seeks NYSE listing with a $7bn float

UK-based online car seller Cazoo seeks NYSE listing with a $7bn float

Leading British online car seller, Cazoo Limited, is reportedly making its long-anticipated stock market debut as it seeks a listing in New York instead of its hometown of London with the help of a Spac (special-purpose acquisition company). The supposed deal effectively values the car retailer at over $7 billion (£5 billion).

According to reports, under the Spac-deal, Cazoo would be merging with Ajax I, a U.S. based enterprise  led by billionaire investor, Dan Och. This move makes Cazoo the latest firm to take advantage of the rapidly growing Spac trend.

Spacs are essentially ‘blank cheque’ enterprises that a