Airbnb Inc (NASDAQ:ABNB, ETR:6Z1) could face a decline in the number of short-term lets available in the UK under new plans proposed by Michael Gove. Hosts will need to receive planning permission before they can rent out short-term lets through property rental sites such as Airbnb, the new legislation stated. It comes as the housing secretary hopes to protect both locals in seaside towns across the UK who are “being shut out of the housing market” and traditional B&Bs and hotels which are losing customers ...

Nike has unveiled restructuring plans which will see thousands of employees laid off after demand for its shoes has come under pressure. Some 2% of the sports retailer's global workforce, equating to 1,600 jobs will be cut, Nike revealed late on Thursday. Overall pressure on consumers through higher mortgage and rental prices is said to have hit demand for high-priced goods, in turn dampening wholesale orders for sportswear from retail outlets. The news of cuts comes after Nike laid out a three-year, US$2 b ...

A major sports streaming collaboration between Walt Disney Co (NYSE:DIS, ETR:WDP)’s ESPN, Fox Corp (NASDAQ:FOXA) and Warner Bros Discovery Inc (NASDAQ:WBD, ETR:J5A) will be interrogated under US antitrust regulations, according to reports. Quoting “two people familiar with the matter”, Bloomberg reported that the Department of Justice is concerned that the joint venture could harm consumers, media rivals and even sports leagues. They said the regulators will consider the proposals once the final terms are p ...

Microsoft is set to open up four Xbox-exclusive games to rival platforms, allowing access for the likes of Nintendo and PlayStation users. Though the titles in question are yet to be confirmed, the move would come as part of a wider strategy shift by Microsoft to grow its games outside of the Xbox market. “We’ve made the decision that we’re going to take four games to the other consoles,” Microsoft Gaming boss Phil Spencer said on a podcast on Thursday. “I do have a fundamental belief that over the next fiv ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Barclays is said to be mulling the acquisition of SocGen's UK private bank, Kleinwort Hambros.  SocGen has initiated an auction process for its Kleinwort Hambros unit, as per Reuters sources. This is in addition to the sale of its Swiss private banking operations, signalling a potential shift in strategic direction. London-based Kleinwort Hambros had more than £12 billion in assets under management in 2022 and could be worth up to £700 million in a sale, as per Reuters. Lloyds, Rathbones, and Raymond James ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

About this content About Leo Grieco Leo joins us with a degree in Media Production from Bournemouth University. His work includes reporting for the UK editorial team and video editing for the broadcast team. He comes with an expertise in video editing and producing. Leo’s specialities include hospitality and leisure, support services, tech and video games. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and fi ...