Tencent in exclusive talks to buy Hong Kong gaming firm Leyou


A pedestrian walks past Tencent Holdings’s headquarters in Shenzhen, China.

Qilai Shen | Bloomberg | Getty Images

Chinese tech giant Tencent is in exclusive talks to acquire Leyou Technologies, the Hong Kong-listed games developer announced on Friday.

Leyou has a number of subsidiaries which make video games. It is most well-known for “Warframe,” a title created by subsidiary Digital Extremes.

It has also announced plans to bring out a game based around “The Lord of the Rings” franchise and is co-developing the upcoming title with Amazon’s gaming division.

Leyou and its controlling shareholder, Charles Yuk, have entered into an exclusivity

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Deloitte estimates 2020 holiday retail sales will rise 1 to 1.5%


The growth rate for retail sales this holiday season is forecast to be less robust than in recent years, according to projections released Tuesday by the consulting firm Deloitte. 

But just how muted that growth is going to be will hinge on how much splurging high-income consumers do, and how much belt-tightening takes place throughout lower-income households. 

Some economists are now calling for a K-shaped recovery — a scenario where certain types of industries see gains, while others are left out. Unlike so-called U- or W-shaped recoveries, growth in a K-shaped rebound is unevenly split between income groups, creating a

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Brent crude benchmark drops about 2% despite historic output cut


LONDON (Reuters) – Benchmark Brent oil prices turned negative on Monday, erasing gains made after major producers agreed record global output cuts, pressured by concerns that the cuts will not be sufficient to reduce a glut as the coronavirus pandemic hammers demand.

After four days of wrangling, the OPEC+ group of oil producers, comprising the Organization of the Petroleum Exporting Countries, Russia and other countries, agreed to cut output by 9.7 million barrels per day (bpd) in May and June, representing about 10% of global supply.

Brent crude LCOc1 futures were down 60 cents, or 1.9%, at $30.88 a barrel

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City lawmakers provide restaurants with relief from delivery fees


A food delivery courier for Grubhub Inc. wears a protective mask in New York, U.S., on Monday, April 6, 2020.

Jeenah Moon | Bloomberg | Getty Images

With the survival of many independent restaurants hanging in the balance, lawmakers are stepping in to limit how much third-party delivery companies like DoorDash and Grubhub can charge restaurants for orders for the duration of the coronavirus pandemic.

The New York City Council on Wednesday voted to restrict food delivery fees paid by restaurants to delivery providers like Grubhub’s Seamless to 15% or less of the order. The council also voted to approve

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