Day: July 7, 2020

Uber Buys Postmates in Food Delivery Bet

Uber said Monday it had agreed to get Postmates for $2.65 billion, making a main transfer to broaden its journey-sharing company amid declining desire for journey-sharing.

The announcement of the offer comes a month just after Uber unsuccessful in its bid to get rival GrubHub, which was in its place offered to European supply huge Just Try to eat Takeaway for $seven.three billion.

The combination of Uber Eats and Postmates would develop the second-premier U.S. food stuff supply corporation with a 37% share of sales. DoorDash would continue being the premier participant with 45% though Grubhub would have 17%.

Postmates,

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CFOs Are Relying on Banks to Keep Short-Term Cash Safe

Prior to the panic arising from the COVID-19 pandemic had absolutely established in, the Association for Economical Professionals carried out its once-a-year company liquidity survey. The outcomes from the poll of 375 treasury and finance executives in March showed that “financial pros could see the gathering storm,” said AFP President Jim Kaitz.

About fifty one% of respondents unveiled that they had amplified their shorter-expression investments in items presented by financial institutions when compared with twelve months back. That was the optimum percentage of finance executives who had picked to stash much more income in a financial institution in three a

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U.S. Tech Companies Decline Hong Kong Data Requests

Numerous United States-based tech providers, such as Alphabet, Facebook, and Twitter, will no lengthier give Hong Kong Law enforcement with user details.

On Monday, Facebook and WhatsApp, the company’s messaging app, explained that they would suspend the critique of Hong Kong authorities requests on user details, described MarketWatch.

Both platforms will look at the lately passed Nationwide Stability Law and hold consultations with global human legal rights professionals in the interim.

Twitter is also putting on hold all details and details requests from Hong Kong officers. Google explained that it had “paused creation on any new details requests from Hong

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Big Four Heading for Audit Shakeup in U.K.

The U.K. is shifting closer to a significantly-reaching shakeup of the Big 4 accounting corporations that would independent their audit and consulting companies immediately after a series of substantial-profile audit failures.

The Fiscal Reporting Council, the U.K. accounting watchdog, declared Monday it experienced requested the corporations to concur to a separation primarily based on a established of ideas they have been talking about with the FRC and to post an implementation system by Oct. 23 that will will need to be done by June 2024.

The ideas aim to, amid other matters, make sure that audit exercise governance shields auditors

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TikTok Maker Seeks to Strike Balance as China, U.S. Step Up Geopolitical Pressure

The Chinese maker of TikTok, the well-liked limited-video clip system, said Tuesday it would pull its app out of Hong Kong amid concerns about a new countrywide-safety regulation, its 2nd sector exit in as lots of weeks, as Secretary of Point out Mike Pompeo hinted the Trump administration was thinking of restricting U.S. users’ accessibility to the app.

The developments underscored the geopolitical troubles facing the 1st world wide social-media feeling to emerge from China. Last week, India—one of TikTok’s greatest markets by buyers, accounting for approximately…

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