December 4, 2020 - Biz in 60

Shares in Turkey's Kervan Gida jump 10% on market debut Shares in Turkish confectionery producer, Kervan Gida, jumped 10-percent on the first day of trading, valuing the company at 237-million dollars. The IPO is the largest on the Borsa Istanbul in more than two years. Norway's 1-trillion dollar sovereign wealth fund was the biggest single buyer of stock, purchasing 7-point-7 percent of shares worth 510-thousand dollars. Organisers say delay of 2020 Games to cost around $2.8B The organising committee of the Tokyo Olympic and Paralympic Games say the total cost of delaying the event will be around 2-point-8 billion dollars. That's on top of the previous budget of about 13-billion dollars. The Tokyo Games were set to take place in July but were postponed due to the pandemic. They're now scheduled to begin on the 23rd of July next year. Warner Bros to release 2021 movies on HBO Max and in cinemas Warner Brothers says it will debut all of its 2021 movies in theatres and on the HBO Max streaming service simultaneously. The decision is a fresh blow to cinema operators as they struggle with the impact of the COVID-19 crisis. Shares in the world's largest theater operator, AMC, fell around 15-percent on the news, while rival Cinemark dropped more than 20-percent.