A London blockchain startup is spending $30m on building ‘a new internet’ June 28, 2018 The roll-out of the Decentralised Architecture for a Democratic Internet, or DADI for short, begins today as the London-based blockchain startup seeks to build an internet run and owned by the public. Labelled as a peer-to-peer network built on decentralised ledger technology, the Dadi network is promised to be up to 60 per cent cheaper [...]
Park Plaza refinances London hotels in £45m deal June 28, 2018 PPHE Hotel Group has this morning announced a £45m plan to refinance four UK hotels, including two landmark London sites. The Park Plaza County Hall and the Park Plaza London Park Royal are part of the agreement, along with Park Plaza Leeds and Park Plaza Nottingham. Under the plans, Luxembourg’s Banque Hapoalim is providing the [...]
Stop thinking in straight lines or get left behind by the revolution June 28, 2018 Revolutionaries from the past have a tendency to morph into romantic icons; think Che Guevara, Rosa Luxemburg, Lenin, Robespierre. From the safety of history, it’s possible to admire their determination and dedication without condoning their often destructive and violent tactics. Yet living revolutionaries are not always so popular beyond their immediate following. They threaten the [...]
Asda ranked worst big supermarket for treatment of suppliers while Iceland comes last overall June 25, 2018 Asda ranks lowest among the big four supermarkets for treatment of suppliers, according to the regulator's annual report released today. Out of all 10 grocers assessed by the Groceries Code Adjudicator survey, Iceland ranked last and the Co-op was second from the bottom. Some eight per cent of Asda suppliers reported that the supermarket "rarely" [...]
Will active management fight back? June 25, 2018 In contrast to ‘passive’ fund or trackers, which aim to replicate the performance of an index, ‘active’ funds employ fund managers to try and select the best performing investments. There are pros and cons for both methods. Passives are cheaper, sometimes substantially so, but they also won’t outperform the index they are following. Meanwhile, finding [...]
Brexit vote two years on: seven charts that tell the story June 22, 2018 On 23 June 2016, the UK public voted on whether or not to stay in the European Union (EU). Many expected the UK to remain in the EU, but by a majority of 52% to 48% the Leave campaign won. The UK is scheduled to leave the EU at 23:00 UK time on 29 March [...]
M&S and Microsoft launch strategic partnership June 21, 2018 Marks & Spencer is teaming up with Microsoft in a bid to shake off its reputation as a digital laggard. A strategic partnership between the two companies will focus on testing the integration of Microsoft artificial intelligence (AI) tech into M&S stores and wider operations. Today’s announcement comes a day after a former M&S digital [...]
EU approves controversial Copyright Directive, despite a major backlash from tech giants June 20, 2018 An European parliament committee has voted in favour of the Copyright Directive, leaving tech giants like Google, Microsoft and Amazon in the lurch over publication rights. The directive will force online publications to pay a portion of their revenues to publishers, and take on full responsibility for any copyright infringement on the internet. As a [...]
M&S should look at a tie-up with Amazon, says former digital boss June 20, 2018 A former Marks & Spencer digital boss has said that the retailer should consider a tie-up with Amazon. Amazon has been making aggressive moves into the UK’s retail sector through its acquisition of Whole Foods and a tie-up with Morrisons. It even talked to the John Lewis Partnership about a potential takeover of Waitrose, but [...]
Why Debenhams has had three profit warnings in a year and could Mike Ashley help? June 20, 2018 City grandee Crispin Odey, whose hedge fund holds a short position in Debenhams, said last year that the retailer was in a race with House of Fraser “as to who will go down first”. While House of Fraser’s fate will be sealed at its CVA on Friday, Debenhams’ future looks dark, with the embattled department [...]