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Baidu revenues extend fall into second quarter

The Chinese search giant Baidu’s sales continued to shrink in the second quarter as China’s economic recovery failed to bring back advertisers. The Beijing-based company’s reported revenue fell 1 per cent year on year to Rmb26bn (about $3.8bn), ahead of the Rmb25.8bn forecast by analysts. Still, it marks an improvement after China’s coronavirus lockdown caused […]

GVC profit fall cushioned by surge in online gambling

GVC, owner of bookmaker Ladbrokes Coral, forecast 2020 earnings that are higher than analysts’ estimates, as a rise in online gambling and the reopening of betting shops helps to remedy pandemic-related uncertainty. Underlying earnings before interest, taxation, depreciation and amortisation are expected to come in between £720m and £740m for the year, assuming no further