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Gamestop: ‘Failing’ firm soars in value as amateurs buy stock

Gamestop: ‘Failing’ firm soars in value as amateurs buy stock

Business
Getty ImagesShares in a US games company have soared more than 300% in the past week - the result of a fight between private and professional investors.Video games bricks-and-mortar retailer Gamestop is arguably something of a relic in a world moving online.But its share price soared another 120% in Wednesday trading in New York. Analysts blame tech-savvy young day traders, who they say are taking on hedge funds in a conflict with generational overtones.And the phenomenon could be spreading to Europe, with several stocks subject to unusual fluctuations in Wednesday trading.It's a battle between Wall Street pros and upstart investors using social media platforms such as Reddit, analysts say. And at the moment, the upstarts have the upper hand.It is, says Neil Wilson from markets.com, gettin...
‘My husband’s death meant I didn’t get financial support’

‘My husband’s death meant I didn’t get financial support’

Business
When Kim Kingston lost her husband to cancer, she had no idea she could be cut out from government support because she inherited money from his pension.When the coronavirus crisis struck, Kim's work was cut off by the lockdown.But she has received nothing from government schemes designed to help support the self-employed.Kim, from Southsea in Portsmouth, is among millions shut out from help, many of whom could easily be included if the government chose to, research shows.The Institute for Fiscal Studies (IFS), which carried out its research for the BBC, concludes there is "clear unfairness" in some of the exclusions. The government said it had "designed and provided one of the most generous self-employed income support schemes in the world".The Treasury's position is that self-employment s...
Airline bosses urge PM not to impose blanket hotel quarantine policy

Airline bosses urge PM not to impose blanket hotel quarantine policy

Business
UK airline bosses have written to Boris Johnson insisting there is not enough evidence that imposing hotel quarantines on all travellers arriving into the country is necessary.The chief executives of British Airways, easyJet and Virgin Atlantic were among those who signed the letter to the prime minister which also called for support to help the industry survive. It came after vaccines minister Nadhim Zahawi told Sky News the government would soon make an announcement on the policy - and that people should hold off on booking a summer holiday. Image: Travel industry insiders expect a decision on the policy imminently The letter to Mr Johnson from airline chief executives said: "We have seen no compelling scientific evidence that intro...
Supreme Court dismisses two cases about Trump’s business conflicts

Supreme Court dismisses two cases about Trump’s business conflicts

Business
Jan. 25 (UPI) -- The U.S. Supreme Court on Monday tossed out two cases that dealt with whether businesses owned by former President Donald Trump unfairly profited during his time in political office. The cases, brought by a non-profit and the District of Columbia and state of Maryland were sent back to lower appeals courts to "dismiss as moot" because Trump lost the 2020 election and was no longer president. Advertisement The cases centered on whether Trump's business operations, including his hotels in New York and Washington, D.C., violated the Constitution's emolument clause, which bans sitting presidents from receiving gifts from foreign or local governments. For the four years of Trump's presidency, Citizens for Responsibility and Ethics in Washington, or CREW, the non-profit that fi...
Google workers announce new global union alliance

Google workers announce new global union alliance

Business
Jan. 25 (UPI) -- Google workers announced Monday a new global union alliance to hold the company accountable. The new alliance called Alpha Global, in recognition of Google's parent company Alphabet, was formed in coordination with Union Network International Global Union, a global union that brings together 20 million workers from various sectors in the service economy, according to a UNI Global Union post. Advertisement Alpha Global comprises 13 different unions representing workers in 10 countries, with the United States, Britain and Switzerland, being among them, The Verge reported. It seeks to make Google live up to its ideals. "[Google] is a place where many workers came to change the world -- to make it more democratic -- only to find Alphabet suppressing speech and cracking down ...