Exclusive: Google to pass on digital tax cost to advertisers September 1, 2020 Google will increase the price of advertising on its platforms in the UK due to the Digital Services Tax, City A.M. can reveal. In an email sent to advertisers today, seen by City A.M., the tech giant laid out plans for a two per cent ‘UK DST Fee’ which will be added to invoices from [...]
French supermarket chain Casino sees pandemic costs eat into profits July 30, 2020 French supermarket chain Casino reported a jump in revenue in the second quarter due to a surge in stockpiling triggered by coronavirus lockdown, but extra costs related to the pandemic ate into profits. Operating profit fell 15.3 per cent to €386m (£348.34m) in the first six months of the year as extra staff bonuses, in-store [...]
Amazon leads £450m Deliveroo funding round as startup expands London tech team May 17, 2019 Deliveroo today confirmed Amazon is leading a $575m (£450m) funding round in the food delivery business as it plans to expand its London engineering team with some of the cash. Read more: Amazon in talks to invest millions in Deliveroo The round, including money from existing investors T Rowe Price, Fidelity Management and Greenoaks, takes [...]
Sony raises profit outlook by a third amid lockdown home entertainment boom February 3, 2021 Japanese electronics and media giant Sony Corp on Wednesday hiked its full-year profit outlook by a third as it taps surging demand for video games, music and movies as people feast on home entertainment amid Covid19 lockdowns. Reuters reports this morning. Sony now expects 94bn yen ($8.95bn) in operating profit in the 12 months through [...]
Finding opportunities in stagflationary times July 7, 2022 Slowing growth and rising inflation is a negative combination for both equity and bond markets. Nevertheless, there are opportunities emerging for global equity investors. This has been a challenging year for equities. Russia’s invasion of Ukraine has led to soaring energy and commodity prices, a global stock market slump and elevated volatility. Recession appears likely, [...]
Toy subscription service Whirli raises £4m seed funding round December 15, 2020 A London-based toy sharing subscription service has raised £4m in its seed round led by Octopus Ventures just in time for Christmas. Rather than a usual subscription service, Whirli subscribers borrow toys instead of purchasing them and any unloved or outgrown toys can be sent back and swapped for another item. Whirli’s service, which starts [...]
If crypto is bunk then Henry Ford should watch Interstellar June 14, 2021 Elon Musk and Henry Ford appear to have more in common than we think, says Monty Munford, but neither can hold a candle to Interstellar.
Premier League introduces new Owners’ Charter in wake of European Super League saga May 3, 2021 The Premier League will require all clubs to sign up to a new Owners’ Charter, committing them to the principles of football. The Premier League has taken action to prevent a repeat of its clubs threatening to breakaway in response to the Super League fallout. Six top-flight teams, including Manchester United and Liverpool, announced late [...]
Ebay calls for government funding to help charities innovate during pandemic June 26, 2020 Ebay’s UK arm has put pressure on the government to do more to help charities during the coronavirus pandemic by establishing an innovation fund to support online retail and services. The e-commerce giant is part of a coalition behind the initiative, which also includes Barnardo’s, the Charity Retail Association and New Philanthropy Capital. The fund [...]
Facebook snaps up chatbot startup Kustomer for ecommerce push November 30, 2020 Facebook has agreed terms to buy customer service startup Kustomer as the social media platform prepares to expand further into ecommerce. Financial details were not disclosed but the Wall Street Journal, which first reported the deal, said the terms valued Kustomer at $1bn (£750m). Kustomer, which was founded in 2015, allows businesses to combine customer [...]