Why Buzzfeed is set to close its UK & US Operations? | Market Update

  • May 14, 2020 BST
  • Team Kalkine

Aston Martin Lagonda’s losses ballooned to £119m in the first three months of the year as the coronavirus pandemic caused the already struggling British carmaker’s sales to plunge globally. The company sold only 578 cars to dealers in the first quarter, down 45% from the same period in 2019. Aston Martin’s shares hit a new record low on Wednesday morning of 32.5p, pushing its market value below £500m for the first time since floating in October 2018 at a value of more than £4bn.

Online media firm Buzzfeed is to close its UK and Australian news operations. The US company, which set up its London office in 2013, said the decision had been made "both for economic and strategic reasons".

The United Kingdom is planning to cut tariffs on U.S. agricultural imports to advance progress on a free trade agreement. The Department for International Trade was considering a "big concession package" to negotiators from the United States over the coming months to cut the cost of certain agricultural imports.

#buzzfeedlayoffs #losses

 


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