Business In 60 Seconds

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 restr