Tag: drops

Apple drops its App Store fee for events forced online by the pandemic

Apple is waiving the customary 30% fee it charges businesses that sell tickets to online events in the company’s App Store for the rest of the year.

Apple suspended the fee to give businesses affected by the coronavirus pandemic more time to adapt to operating almost entirely online, a spokesman told CNBC. App store developers such as Airbnb, the home-rental company, has expressed interest in holding more events online, the Wall Street Journal reported.

Earlier this week, Apple agreed to exempt Facebook events from the 30% fee. This summer, the social media company introduced paid online events as a way for small businesses to make some money. Facebook said it would not be taking a cut of event fees until August 2021. Apple’s suspension of its 30% fee means that sellers of online events will be able to keep all their earnings, minus taxes. 

Apple expanded the fee suspension on

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BP Drops to 25-Year Low a Week After Unveiling Climate Strategy

(Bloomberg) — Just a week after revealing its plan to turn itself into a clean-energy giant, BP Plc watched its share price drop to a 25-year low.

Chief Executive Officer Bernard Looney and his new management team gave more than 10 hours of presentations over three days last week, in a bid to show the world that the oil and gas giant could adapt to a low-carbon future without sacrificing returns.

BP’s stock closed in London on Thursday at 232.4 pence, the lowest level since October 1995. While falling crude prices and fears of the second wave of the coronavirus didn’t help, the slide suggests shareholders weren’t convinced by Looney’s pitch.

“Investors remain skeptical,” said Mirza Baig, Global Head of Governance at Aviva Investors. “Particularly as this move is being forced on the company by climate change.”

a screenshot of a video game: BP‘s shares closed at the lowest price in 25 years.

© Bloomberg
BP‘s shares closed at the lowest price in 25 years.


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Cummings candidate for UK ARPA drops out, setting back agency: Source

  • The UK’s plan to create a $1 billion blue-skies innovation agency has been set back after the government’s top candidate to run it dropped out.
  • Renowned Australian computer scientist Michael Nielsen had been lined up to run the agency but dropped out in July or August, one source told Business Insider. Nielsen did not respond to requests for comment.
  • Nielsen, based in San Francisco, felt he would not have enough freedom to run the agency as he wished, the source said.
  • A government spokesman said: “The government continues to progress plans to establish the agency as soon as possible.”
  • Visit Business Insider’s homepage for more stories.

The UK’s efforts to establish a new $1 billion moonshots agency for cutting-edge research have been set back after the top candidate to lead it dropped out of the running.

Renowned Australian quantum physicist and programmer Michael Nielsen was the favored candidate, a source

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Stock market daily drops shouldn’t change your retirement strategy

Back in 1999, Fred Barbash, then the business editor for The Washington Post, addressed investors’ anxiety about the stock market after receiving a letter from a man who sold almost his entire portfolio after the Dow Jones industrial average plunged nearly 267 points. “I’m tired of this buy and hold bunk,” the man wrote.

“Sell if you must,” Barbash wrote. “But the swinging pendulum of the Dow should not be the dispositive factor in our decisions.”

And what happened to those stocks the investor sold?

They all went back up — and then some.

“I tell random passersby to make use of boring index funds and studiously ignore whatever’s happening this week or this month in the stock market,” Harold Pollack, the Helen Ross professor at the School of Social Service Administration at the University of Chicago, wrote in a PostEverything piece in March, a few weeks after the financial

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