Over a quarter of UK consumers have fallen out with a friend or partner who owed them money and has not paid back the debt in the last 5 months, since the start of Covid-19, according to new research.

What’s more, the poll of UK consumers also found that 53 per cent of Brits agree that they have probably paid out more money on their my friends and family for meals, than they have on themselves in the last 10 years. The data was equally weighted 50-50 between men and women in the UK, across all regions of the UK. This data has been revealed during Rishi Sunak’s Eat Out to Help Out scheme, which saw more than 10 million meals purchased last week.

The survey also found that two-thirds of UK consumers disagree with one person paying an entire bill themselves when eating out with a friend or … Read the rest

The Dow Jones Industrial Average fell on Tuesday as Apple shares declined for the first time in six sessions and traders assessed a big shake-up for the average.

The 30-stock index let go of 59.91 points to 28,248.55. Apple dropped 0.8%, giving back some of its blistering rally into a record valuation. Boeing also contributed to the Dow’s decline, falling 2%.

The S&P 500 kept marching, piling 12.37 points onto Monday’s all-time record at 3,443.65.

The NASDAQ Composite improved 86.75 points on Monday’s all-time peak, to 11,466.47.

Facebook climbed more than 3%. Amazon, Alphabet and Microsoft were all up more than 1%.

After the bell, S&P Dow Jones Indices said Salesforce.com will replace Exxon Mobil, Amgen will replace Pfizer and Honeywell International will replace Raytheon Technologies in the Dow average. The changes are driven by Apple’s coming stock split, which will reduce the technology weighting in the price-weighted average.

Salesforce, … Read the rest

(Bloomberg) — It’s the hottest fintech in the world and it’s poised to go public in the coming months, unlocking vast riches for early investors and employees.Ant Group, the online payment provider backed by Alibaba Group Holding Ltd. filed the prospectus for its initial public offering Tuesday, unveiling some of the people who stand to win big from the listing.The obvious one is Jack Ma, whose stake in Ant will be worth $25 billion if it achieves the $225 billion valuation people familiar with the matter have said it’s targeting. That could catapult him to among the world’s 10 richest people.Ant Chairman Eric Jing’s fortune will swell to $2.9 billion, and another 17 current and former Alibaba and Ant executives will join the ranks of billionaires, based on the ownership structure described in the prospectus.An Ant representative declined to comment on the calculations.Most of the billionaires, whose combined stake is … Read the rest

Good morning.

Has the pandemic killed the office? No, say Diane Hoskins and Andy Cohen, co-CEOs of Gensler, the world’s largest architecture firm. But while the office may not be dead, it is going to be very different in the post-COVID future.

The firm’s research shows only 14% of workers want to stay home full time. “A majority are saying they want back. They have roommates, they have parents, they have dogs,” says Cohen. But the offices they return to will be more of “a hybrid kind of work environment, with some people at home, but many at the office. And it will be all about collaboration and innovation.”

“What’s the big AHA?“ asks Hoskins. “It’s that the ultimate value of the workplace is people. Why do people want to be there? At the end of the day we are there because of the other people that are there…Think of … Read the rest

Zoom, the video-conferencing app that has proved popular with people working from home during the coronavirus pandemic, suffered a partial failure that left thousands of people in the US, UK and across the world unable to connect to work meetings or classes.

The California-based company behind the app apologised to customers on Monday and said it was working hard to fix the problem that had left users “unable to start and join Zoom meetings and webinars”.

“We are in the process of deploying a fix across our cloud. Service has been restored already for some users. We are continuing to roll this out to complete the fix for any users still impacted,” Zoom Video Communications said on its website on Monday.

The company said later on Monday that the issue had been resolved: “We have resolved an issue that caused some users to be unable to start and join Zoom … Read the rest

Stocks rose to all-time highs on Monday, lifted by gains in tech and some reopening names, as sentiment around the coronavirus pandemic improved.

The Dow Jones Industrials popped 378.13 points, or 1.4%, to end Monday at 28,308.46.

The S&P 500 climbed to yet another all-time high, picking up 34.12 points, or 1%, to 3,431.28.

The NASDAQ Composite added 67.92 points to Friday’s all-time peak, at 11,379.72.

Apple shares rose 1.2% to lead other tech-related names higher. Facebook climbed 1.6% and Amazon advanced 0.7%. Alphabet rose 0.6%.

Shares of airlines and cruise operators gained amid positive coronavirus treatment developments. United Airlines rose by more than 9%

along with American. Delta gained 9.3%. Carnival advanced 10.2%. Norwegian Cruise Line added to 7.6%, and Royal Caribbean closed higher by 4.7%.

Monday’s early gains come as the number of new coronavirus cases continues to decline in the U.S. Since spiking by more than 64,000 … Read the rest

(Bloomberg) — Chinese buyers have not only stopped snapping up iconic overseas assets, the coronavirus pandemic is ravaging the targets of deals that defined a headier era.Whereas some prolific acquirers such as HNA Group Co. and Anbang Insurance Group Co. began falling into disarray before the recent crisis, the impact on investments in sectors hit hardest by the outbreak means healthier owners are now feeling the pain.Conglomerate Fosun International Ltd. could soon see its 2015 investment in Cirque du Soleil Entertainment Group wiped out, while PizzaExpress, owned by private equity firm Hony Capital, said this month it’s likely to hand control of the British chain to creditors. Baggage handler Swissport International AG is also negotiating with investors over a rescue that could see HNA exit the cash-strapped firm it bought in 2015, Bloomberg News has reported. HNA is also among Virgin Australia Holdings Ltd. shareholders set to lose everything after … Read the rest

After a woman with the coronavirus visited a Starbucks cafe north of Seoul this month, more than two dozen patrons tested positive days later. But the four face mask-wearing employees escaped infection.

The Aug. 8 outbreak in the South Korean city of Paju is another example of how rapidly the SARS-CoV-2 virus can spread in confined, indoor spaces — as well as ways to minimize transmission. With health authorities around the world still debating the evidence around face masks, the 27-person cluster linked to the air-conditioned coffee outlet adds more support for their mandatory use to help limit the spread of the COVID-19-causing virus.

“This speaks volumes about the role masks can play,” said Ma Sang Hyuk, a pediatric infectious diseases physician at Changwon Fatima Hospital in South Korea. “Masks may not provide 100% protection, but there’s nothing out there that’s as effective.”

Subscribe to Eastworld for weekly insight on Read the rest