PRESS DIGEST- Financial Times - Dec. 1

- Carlyle Group offloaded its take in PA Consulting Group, valuing the UK-based firm at 1.8 billion pounds ($2.40 billion), ending a highly-acquisitive five-year period of private equity ownership. - Zoom Video Communications Inc Inc said on Monday its revenue rose to $777 million during the three months ended October from $167 million a year earlier as surging COVID-19 cases led to an increase in remote working.


Reuters | Updated: 01-12-2020 07:15 IST | Created: 01-12-2020 07:15 IST
PRESS DIGEST- Financial Times - Dec. 1

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines

- Arcadia retail group collapses into administration https://on.ft.com/3fU0pRc - ExxonMobil slashes capex and will write off up to $20bn in assets https://on.ft.com/33wjh3C

- Carlyle sells stake in PA Consulting https://on.ft.com/36nhdg5 - Zoom sales up fourfold as pandemic keeps workers at home https://on.ft.com/2Jyfewt

Overview - Philip Green's Arcadia fashion group became the latest casualty of the COVID-19 pandemic, putting 13,000 jobs at risk after collapsing into administration.

- Exxon Mobil Corp said on Monday it cut its expenditure plans and will write off up to $20 billion of assets in the fourth quarter. - Carlyle Group offloaded its take in PA Consulting Group, valuing the UK-based firm at 1.8 billion pounds ($2.40 billion), ending a highly-acquisitive five-year period of private equity ownership.

- Zoom Video Communications Inc Inc said on Monday its revenue rose to $777 million during the three months ended October from $167 million a year earlier as surging COVID-19 cases led to an increase in remote working. ($1 = 0.7496 pounds) (Compiled by Bengaluru newsroom)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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