Spain’s ‘Airbnb for long-term rentals’ taps King’s Cross as its new global headquarters November 26, 2018 Spanish property tech startup Spotahome has picked out London’s King’s Cross as its new global headquarters, thanks to the UK’s reputation as a great source of highly-skilled digital talent. Spotahome’s chief executive Alejandro Artacho told City A.M. that he believes the capital to be the best place to channel growth and take the business global. [...]
Sainsbury’s: Buyers bet that shares have seen the low April 26, 2019 By Graeme Evans from interactive investor. Trading within a whisker of a record low, a lot of bad news is already written into the share price. Yesterday’s humiliation of Sainsbury (J) (LSE:SBRY) and its boss Mike Coupe has not stopped investors from piling into the supermarket giant’s shares in the belief the chain can bounce [...]
Music retailer HMV on the verge of second administration since 2013, reports December 28, 2018 HMV is set to go into administration for the second time in six years, putting 2,200 jobs at risk, according to reports. The company reportedly filed a notice of intention to appoint administrators last week as it held last minute talks with suppliers, Sky News reported this morning. The company was bailed out in a [...]
Corbyn’s plan for the BBC would harm the press and prevent new media from thriving August 24, 2018 Taxing tech giants for the purpose of levelling the playing field is a monumentally bad idea. Unfortunately, it’s gaining traction. Over the past few weeks, we’ve seen calls for an “Amazon Tax” from chancellor Philip Hammond to help save the high street. The immediate implications of increasing the tax burden on companies like Apple, Amazon, [...]
We don’t need to break up big tech to make a better internet – we just need more competition March 19, 2019 Last week saw the release of the government-commissioned Furman Review into digital competition. The commission, chaired by former Obama administration chief economic adviser Jason Furman, found that Google, Amazon, and Facebook don’t face enough competition. This shouldn’t come as a surprise, given the recent attention on tech giants’ business models by governments across the world. [...]
Automakers and the tech giants are battling over the future of the car industry March 5, 2019 More than 100 years after the petrol-powered car passed go for the first time – and despite worldwide sales at a record high in 2018 – stress fractures are starting to appear. Tesla is on track to outsell both BMW and Mercedes-Benz in the US, car sales in China are declining for the first time in [...]
Ebay predicts fourth quarter surge in profits October 30, 2018 E-commerce giant Ebay forecasted a rise in fourth quarter profits above analyst estimates tonight, despite its rival Amazon announcing last week that its profits will disappoint across the upcoming holiday period. Shares in Ebay, which also beat estimates on profit for its third quarter, rose six per cent in after-hours trading. Net income for the [...]
Google beats estimates on revenue and profit, but shares fall on rising costs February 4, 2019 Google's parent firm Alphabet topped consensus estimates in its fourth quarter results tonight, surpassing expectations for revenue and profit. The tech giant reported net income of $8.9bn (£6.8bn), marking a turnaround from a $3bn loss in 2017 when it recorded a one-off tax charge of $9.9bn. This outperformed the average analyst prediction of $7.7bn, as collated by [...]
Can Apple win the trillion-dollar race today? | City A.M. August 1, 2018 After a bumper set of results last night, Apple is riding on a high that could take it all the way to a trillion-dollar market valuation. Apple’s share price has leaped up to 4.11 per cent in pre-market trading, at a value of $198.11 (£151) per share. If it’s to break the trillion-dollar mark, Apple [...]
US stocks suffer worst week in a decade as ‘Santa rout’ sends Nasdaq into bear market December 22, 2018 Wall Street suffered its worst week in a decade as a “Santa rout” plunged the Nasdaq into bear market territory last night. The Nasdaq fell three per cent on another volatile day’s trading and has now fallen almost 22 per cent from its 29 August high. The S&P 500 dropped 2.1 per cent and is [...]