Analysis: Can Disney Plus rescue the House of Mouse? May 6, 2020 Disney last night laid bare the extent of the damage from the coronavirus crisis, which has sent shockwaves through all parts of the entertainment giant’s business. Chairman Bob Iger warned of “unprecedented challenges” as the company reported a $1.4bn (£1.3bn) hit to first-quarter operating income. With lockdown shutting down its theme parks, cruises and its [...]
Amazon tops UK customer satisfaction rankings as Iceland becomes the UK’s top supermarket for the first time July 5, 2018 Amazon has been named the top company in the UK for customer satisfaction for the sixth consecutive year, while Iceland scored the number one spot in food retail for the first time. Amazon scored 86.7 out of a potential 100 points, followed closely by John Lewis which scored 86.5. Yorkshire Bank took joint third in [...]
Profit jumps at Facebook despite regulatory pressure October 30, 2019 Facebook has beaten third-quarter earnings forecasts despite the social media giant facing intense scrutiny from US lawmakers, sending shares up over five per cent in after-hours trading. Read more: Facebook abandons appeal against £500,000 Cambridge Analytica fine Profit at the world’s largest social media firm grew 19 per cent to $6.1bn (£4.7bn) in the three [...]
UK ploughs ahead with digital services tax despite US backlash July 11, 2019 The UK has vowed to plough ahead with a digital services tax on large tech companies, just hours after the US launched a probe into France for a similar levy. The government today published draft legislation for its next finance bill, which includes a new tax aimed tech giants such as Facebook, Amazon and Google. [...]
Talktalk holds guidance as full-fibre demand boosts revenue July 17, 2019 Broadband provider Talktalk today said its first quarter trading was in line with expectations, as growing demand for high-speed internet boosted sales. The telecoms firm posted a 1.3 per cent rise in revenue to £387m in the three months to the end of June, and said its full-year guidance remains unchanged. Read more: Talktalk narrows [...]
Uncertain future for retailers as businesses fail to invest in digital August 21, 2019 In an already turbulent time for the high street, swathes of the retail sector are ignoring the need to focus on digital technology, despite consumers increasingly shopping online, according to research. A survey of 100 top retailers found more than one-third of businesses have no strategy in place to address developments such as a rapid [...]
S&P 500 hits all-time high on trade and Fed optimism October 28, 2019 The US’s benchmark S&P 500 stock index hit an all-time high today as investors were cheered by a possible breakthrough in the US-China trade negotiations and with the Federal Reserve likely to cut interest rates on Wednesday. Read more: Microsoft beats Amazon to Pentagon’s $10bn cloud computing contract The index was also lifted by Microsoft [...]
Jeff and Mackenzie Bezos in record-breaking divorce settlement work $35bn April 4, 2019 Amazon chief Jeff Bezos and his ex-wife of 25 years Mackenzie Bezos have agreed the most lucrative divorce ever, worth at least $35bn (£27bn). The split of the former richest couple in the world will leave Mackenzie the third most wealthy woman on the planet, despite her giving up 75 per cent of their stake [...]
Ofcom gives green light to BBC’s Britbox push September 19, 2019 Regulator Ofcom has given the thumbs up for the BBC’s investment in Britbox – a new streaming service to rival the likes of Netflix. The regulator said that there is no “significant risk” that Britbox, a collaboration with ITV, will distort the market and create an unfair advantage. Read more: Britbox: BBC and ITV reveal [...]
Top US business bosses abandon shareholder-first principle August 19, 2019 The age-old principle that shareholders come first has been ditched by an influential lobbying group representing some of the world’s most senior business bosses. Maximising profits for investors should no longer be the main priority for firms, an organisation called The Business Roundtable concluded today, as it signalled a major corporate shift towards achieving wider [...]