The EU’s “New Deal for Consumers” initiative will see fines similar to those imposed by the EU’s General Data Protection Regulation Directive (GDPR) on businesses for breaches of consumer law.
Ted Baker recently announced a rescue plan combining an open offer to existing shareholders, and a placing, which will offer any outstanding shares to institutional investors. The rescue plan, which is selling shares at a discounted price of 75p a share, hopes to raise approximately £95m, with up to a further £10m available if new shares are also offered to the public in an offer for subscription.
UberEats announced it will stop operating in the United Arab Emirates (“UAE”) after 4 June 2020 and will combine its services with CareemNOW, the online food delivery service operated by Middle Eastern ride hailing company Careem, which Uber acquired in 2019 for £2.4bn.
Due to COVID-19, the food and business industry in China is currently suffering. Resultantly, a restaurant association in Guangdong wrote an open letter to the Meituan (a food delivery service), asking Meituan to share more of its commission with merchants, and to allow merchants to sell through other delivery platforms.