December 1, 2020 - Biz in 60

UK department store chain Debenhams set to close all stores UK department store chain Debenhams says it will start liquidating its business after J-D Sports pulled out of talks over a rescue deal. The process will see the closure of all 124 outlets in the UK, with the possible loss of 12-thousand jobs. The collapse of Debenhams comes a day after retail giant, Arcadia entered administration as the pandemic hit sales. Credit Suisse names Antonio Horta-Osorio as new chairperson Swiss lender Credit Suisse has named outgoing Lloyds CEO Antonio Horta-Osorio as its new chairperson. He'll succeed Urs Rohner when he steps down in 2021, after serving the maximum term of 12 years. Horta-Osorio's appointment comes as Credit Suisse is facing a 680 million dollar fine in the US due to residential mortgage-backed securities issued in 2007. Video-conferencing app Zoom posts 367% jump in Q3 revenue Video conferencing company, Zoom has reported third-quarter sales that exceeded analysts' expectations. That's as the new restrictions to curb the spread of the coronavirus pandemic continue to keep employees at home. Zoom's revenue has jumped nearly four-fold in the three months to the end of October from a year ago to 777 million dollars.