Sorrell ramps up tensions with WPP after resignation of Chinese director July 25, 2018 Former WPP boss Sir Martin Sorrell has ramped up tensions between him and his former employer by commenting on the exit of one of its Chinese board members. Hugo Shong stepped down from the board earlier this year, saying that "additional commitments outside WPP and increased pressure on his time and availability" had led him [...]
Bricking it: Lego sales and profits fall on weaker dollar September 4, 2018 Lego was impacted by the weaker US dollar in the first half of 2018, reporting lower sales and profits today. The Danish toy company said it was pleased with performance given the challenges of the toy industry, and is now focused on stabilising the business. The figures Global consumer sales grew one per cent in [...]
JD.com boss returns to China after being put under US arrest for sexual misconduct September 3, 2018 The top boss of Chinese retail giant JD.com has been allowed to travel back to China after his arrest in the US on suspicion of criminal sexual misconduct. Richard Liu was arrested in Minneapolis on Friday evening and released "pending complaint" the following afternoon, according to police records. JD.com said in a statement today that Liu [...]
Google to invest $550m into Chinese e-commerce site JD.com June 18, 2018 Google has announced it will be buying up $550m (£415m) of shares in Chinese e-commerce site JD.com, in an strategic partnership with the goal of expanding its reach in both south east Asia and in retail services. Google joins the ranks of existing investors like the Chinese social media giant Tencent, which is JD’s biggest [...]
Stock predictions 2019: Which stocks and shares will do well this year? January 2, 2019 After a tumultuous year in the markets with Brexit uncertainty, the threat of trade war and rapidly changing consumer habits, the FTSE 100 suffered its worst year since the financial crisis in 2018, ending it 12.5 per cent down. While there is no sign that 2019 will be any less eventful, with the date Britain [...]
Britain needs to step up to win the global AI healthcare race January 7, 2019 At this time of year, the news is invariably gearing up for a season full of stories about a crisis in hospital care. But away from the headlines, Britain is on the brink of a real global health success story – one we must capitalise on in 2019. It’s no stretch to say that the UK [...]
Chinese online retail tycoon released after US sexual conduct charge September 2, 2018 The billionaire leader of a Chinese web retail giant was arrested in the US on Friday on a charge of criminal sexual conduct, before being released a day later. Richard Liu, the founder of JD.com – one of China’s biggest online retailers, and a major rival to web behemoth Alibaba – was taken into custody [...]
Chinese tech stocks rise as its national leadership group gets an overhaul | City A.M. August 9, 2018 Technology stocks in China rose overnight after Beijing said it has revamped its national leadership group for the sector. Tasked with doing the research and planning for China’s government strategy on tech, the former National Technology and Education Leadership Group has now had the “education” dropped from its name to represent a narrowed focus from [...]
Softbank’s Indian Uber challenger brand Ola is launching in the UK | City A.M. August 7, 2018 Ola, the Indian ride-hailing firm backed by Japanese mega-investor Softbank, is bringing its services to the UK. Ola’s app will allow riders to choose from services across both private hire vehicles and black cabs, in a bid to shake things up by challenging major UK taxi disruptors Uber and Gett at the same time. The [...]
How would you like to pay for that, madam? October 17, 2018 The global payments industry is dramatically improving due to technology. Mobile has changed everything. Payments are getting faster and smarter. Competition is intense. And payments are revolutionsing markets in the developing world even faster than in the developed world. In just the next seven years, the McKinsey Global Institute estimates that widespread adoption and use [...]