Microsoft pledges to go ‘carbon negative’ by 2030 January 16, 2020 Microsoft will go “carbon negative” by 2030, senior executives announced today, as the tech giant looks to take responsibility for its emissions footprint. The commitment means mean that Microsoft will cuts its emissions by half, whilst simultaneously removing more carbon from the atmosphere than it emits anually, resulting in a net emissions total of less [...]
Retail landscape will continue to evolve January 7, 2020 At first glance, the £50m deal to convert a north London retail park into a warehouse and logistics hub is a perfect representation of the forces upending an embattled sector. The relentless rise of online shopping and home delivery means plots like the Ravenside site in Edmonton, snapped up by warehousing giant Prologis, is worth [...]
Ranked: Top 10 retail banks for customer experience November 28, 2019 First Direct has won the crown for delivering the best retail banking customer experience, according to a comprehensive new study released this morning. The telephone and internet-based retail bank has seen off competition from the likes of Barclays, the Co-operative Bank and Royal Bank of Scotland (RBS) to claim the top spot. Read more: Lloyds [...]
This Week: PMIs, Morrisons, Next, US unemployment, Fed, M&S January 4, 2021 City A.M. looks at the first business week of 2021 with Michael Hewson, chief market analyst at CMC Markets UK. Monday: UK PMIs for December Flash numbers in the middle of December were surprisingly encouraging, with manufacturing rising to 57.3. “No doubt due to some pre-Brexit stockpiling. services also managed to rebound a touch, coming [...]
Amazon (AMZN) doubles down on profits, but misses estimates on revenue | City A.M. July 26, 2018 Amazon doubled consensus estimates on profits in its second quarter, as results released tonight revealed a staggering 1,157.5 per cent increase year-on-year in earnings per share. The company reported shareholder earnings for the quarter at $5.07 (£3.86), outperforming estimates collated by S&P Global Market Intelligence which predicted $2.54. In the same quarter in 2017, Amazon [...]
Competition watchdog risks ‘killing’ British tech firms, startups warn March 3, 2020 The UK competition watchdog risks “killing” rising British tech companies by launching lengthy investigations while global rivals are free to pull ahead, startups have warned. In a letter to chancellor Rishi Sunak, seen by City A.M., industry body the Coalition for a Digital Economy (Coadec) said the Competition and Markets Authority’s (CMA) “eleventh-hour interventions” risked [...]
London media firm bags $100m for new film and TV projects December 12, 2019 The media firm behind hit shows such as Line of Duty today said it has secured $100m (£76m) of funding to help fund film and TV projects, while it will also look to build a new UK studio space. Great Point Media (GPM) has already committed $80m of its own funds to the investment, and [...]
Tech giants lobby EU not to hold them liable for illegal content January 7, 2020 The biggest tech companies have called on the EU not to hold them liable for all content on their platforms, but have accepted that their efforts to remove illegal or harmful content could be regulated by a new European watchdog. A lobby group that represents tech titans including Google, Facebook, Twitter and Amazon has written [...]
Google Cloud buys analytics firm Looker for $2.6bn June 6, 2019 Google will buy analytics firm Looker for $2.6bn (£2bn) as it looks to expand its cloud offerings. Read more: Microsoft and Oracle team up to take on Amazon Web Services The deal is the first big move for the company’s new cloud chief, Oracle veteran Thomas Kurian, who replaced Diane Greene last year. The acquisition [...]
Just Eat shares fall as CMA probes Takeaway.com merger January 24, 2020 Shares in Just Eat fell three per cent this morning after the UK’s competition regulator launched a last-minute investigation into the proposed merger between delivery giants Just Eat and Takeaway.com. Takeaway.com said that it would revise its timetable by one week, meaning that unless the Competition and Markets Authority (CMA) barred the move, shares in [...]