Business news in brief
Third of aspiring homebuyers say finances are on the up
Nearly a third of people who plan to buy their first home within the next year say their finances have improved during the Covid-19 pandemic, a survey has found. Some 32 per cent of people hoping to get on the property ladder felt this way, according to the research by YouGov, perhaps because they have been able to save more money with fewer opportunities for discretionary spending. However, with many people suffering pay cuts, being furloughed or losing their job, nearly the same proportion (30 per cent) of aspiring first-time buyers who were surveyed said Covid-19 had made their financial situation worse. Only 14 per cent of people surveyed generally across Britain said there had been a positive impact for them financially, while 34 per cent said their finances had deteriorated as a result of the coronavirus crisis. PA
Netflix global subscriptions up by more than 10 million
Netflix boosted its total number of global subscriptions by more than 10 million in the last quarter. The streaming giant saw the number of its paid memberships grow by 26 million in the first half of the year, according to a company letter to shareholders. The figure is nearly on a par with the 28 million that were added throughout the whole of 2019 and the company has exceeded its targets. However, the growth rate is slowing “as consumers get through the initial shock of Covid and social restrictions”, the letter added. Netflix forecasts that it will add just 2.5 million subscriptions in the third quarter, down from 6.8 million over the same period last year. PA
Rio Tinto experts access site via virtual reality glasses
Mining giant Rio Tinto has been putting experts on the ground at one of its sites by using virtual reality headsets, as the coronavirus pandemic cuts into production. Staying far away from the company’s copper mines in Mongolia and the US, experts have been able to weigh in remotely. It has allowed them to get past travel restrictions caused by the Covid-19 outbreak, Rio Tinto said. “At our Oyu Tolgoi underground project in Mongolia, the use of virtual reality glasses has helped gain access to global experts to support project progression during construction and commissioning stages,” the company said in an update to investors yesterday morning. PA
Vodafone to have green-powered network by July 2021
Mobile giant Vodafone has said its European network will be powered by 100 per cent renewable electricity by no later than July 2021. The network provider said it has “accelerated” its shift towards green electricity as it committed to use only wind, solar or hydro sources. Vodafone, which currently sources a third of its power from renewables, also said it will help business customers to reduce their own carbon emissions by a cumulative total of 350 million tonnes globally over 10 years between 2020 and 2030. PA