Florida sets one-day record with 15,000 new coronavirus cases July 13, 2020 Florida reported a record increase of more than 15,000 new coronavirus cases in 24 hours late last night, cementing its position as one of the worst hit areas for the virus globally. If Florida were a country, it would rank fourth in the world for the most new cases in a day behind the US, Brazil and [...]
BT warns of outages if UK bans Huawei too fast July 13, 2020 BT chief Philip Jansen today issued a warning to the government that removing Huawei from the UK’s telecoms network too soon could case mass service outages across the country. A decision is due this week from Number 10 on whether to impose tougher restrictions on China’s Huawei, after intense pressure from the US to ban [...]
Amazon-backed Tesla rival Rivian picks up $2.5bn in single round July 10, 2020 Rivian, an electric truck-making startup backed by Amazon and Ford, has raised $2.5bn in a fresh funding round led by T. Rowe Price. The new round takes the total investment in Rivian to at least $6bn, including a $1.3bn round in December also led by T. Rowe Price. Rivian’s latest funding round was supported by [...]
Google’s Android 10 adopted faster than any earlier version July 10, 2020 Google’s latest update to its Android operating system was adopted faster than any other previously release, reaching 100m devices in five months. This was 28 per cent faster than Google’s last release Android Pie, it said this week. After 300 days, Android 10 had been downloaded on 400m devices — approximately 16 per cent of [...]
Tesla nears record for first stock to reach $20bn short interest July 10, 2020 Tesla is nearing a milestone as the first stock to ever reach $20bn in shorted shares, as its share price continues to rally. Data from S3 Partners released after markets closed yesterday showed Tesla reached a short-interest level of $19.2bn, climbing as high as $19.95bn at one point. S3 analyst Ihor Dusaniwsky said yesterday Tesla [...]
Sony injects $250m into Fortnite creator Epic Games July 10, 2020 Sony has invested $250m in the game studio behind Fortnite, giving the tech giant a reported 1.4 per cent stake in the business. Epic Games is now said to be valued at $17.9bn after the deal. The two companies said the deal will allow them to “broaden their collaboration across Sony’s leading portfolio of entertainment [...]
Hong Kong shuts all schools after local coronavirus cases spike July 10, 2020 Hong Kong’s education department has said it will suspend all schools from Monday, after a spike in confirmed local coronavirus cases. The city state reported 38 new cases today, a slight fall from yesterday’s 42 new cases but forming a continuation of a sharp uptick in cases registered over the past three days. Schools have [...]
Muji files for bankruptcy in the US July 10, 2020 The US arm of Japanese lifestyle brand Muji has filed for bankruptcy, joining a host of retail casualties amid the coronavirus pandemic. Muji owner Ryohin Keikaku said it had filed for Chapter 11 bankruptcy protection today, aiming to close unprofitable stores and renegotiate rents across the US. All of Muji’s 18 US stores have remained [...]
Great Portland Estates collects just 28 per cent of June retail rent July 10, 2020 Great Portland Estates received only 28 per cent of rent due last month from those in its retail, leisure and hospitality spaces, as the coronavirus pandemic continues to weigh on the economy. The West End landlord collected 74 per cent of the rent due from office locations in the three months to June, utilising rent [...]
Crypto exchange Coinbase aims for Wall Street listing July 9, 2020 Coinbase, one of the world’s largest cryptocurrency exchanges, is said to be preparing to publicly list its shares in New York. The listing could come as early as this year, sources told Reuters. Should its application be approved by US regulators, Coinbase would be the first major US cryptocurrency exchange to go public. It would [...]