Cloud nine: IBM announces major UK expansion, following Facebook and Google commitments November 22, 2016 IBM has joined fellow US tech giants Facebook and Google in announcing a major multi-million dollar investment into the UK. The company is today announcing plans for four new cloud data centres – where corporate and consumer information is stored remotely – in the UK “to keep pace with growing client demand”. The commitment marks IBM [...]
It isn’t just pensions: Four reasons why Royal Mail shares have failed to deliver January 19, 2017 Royal Mail's shares fell over five per cent this morning despite delivering in-line trading for the first nine months of the year. The group's problem is that its core operation – delivering letters in the UK – is shrinking. Add to this pension problems and the potential for industrial action and as Rob Byde, an analyst at [...]
iPhone builder plans float for cloud unit that could raise $1bn as demand for data transfer products soars July 5, 2016 The builder of Apple's iPhone has filed to float its cable and connector unit in Hong Kong in a deal that's thought could raise as much as $1bn (£765m). Taiwanese firm Hon Hai Precision Industry – known as Foxconn Technology Group – assembles most of Apple's iPhones and many of the other smartphones in use around the world. The planned initial public offering [...]
Employment tribunal ruling could cost Uber over £17m, says employment lawyer October 28, 2016 Today's landmark ruling by an employment tribunal that Uber drivers are not self-employed but entitled to basic workers' rights such as holiday pay, could cost the company in excess of £17m, according to an employment lawyer. Sean Nesbitt, partner in the employment team at law firm Taylor Wessing, said: "It is economically significant to Uber. [...]
Amazon share price touches record high after adding three million Prime members over Christmas December 29, 2015 Shares in Amazon have touched a record high after a stellar performance over the Christmas period. In morning trading, Nasdaq-listed shares in the online retailer and increasingly jack-of-all-trades touched $694.55, an intraday all-time high, after reporting record sales of devices and Prime membership over the festive season. More than three million members joined Amazon Prime in the third [...]
Etsy share price falls as Amazon comes over all hipster and launches Amazon Handmade October 8, 2015 Amazon has just done the corporate equivalent of growing a beard and getting a tattoo sleeve, after it announced the launch of Handmade at Amazon, an online marketplace for "genuinely handmade items". Sound familiar? That's because it's already been done – by Etsy, the US e-commerce site which launched a $3.5bn (£2.3bn) IPO in April. [...]
Latest filings by British arm of McDonald’s reveals level of royalty payments to Luxembourg entity October 30, 2016 The British operations of burger giant McDonald's paid £123m for franchise rights last year which are part of a structure that is being investigated by European authorities. The company, whose UK operations are captured in a Luxembourg based company, McD Europe Franchising, reported a profit of $541m for the year to December 2015, almost identical to the $540m it [...]
GoDaddy has beaten out the competition to buy Host Europe Group for $1.8bn December 6, 2016 Website domain name provider GoDaddy is buying rival Host Europe Group (HEG) for €1.69bn (£1.42bn) including debt. The move is designed to help accelerate GoDaddy’s international expansion and grow its services beyond the initial set-up of websites. Host Europe is currently owned by private-equity firm Cinven, which picked up the business in August 2013, and has a debt [...]
Brace yourself middle England: Waitrose’s free coffee could be under threat October 16, 2016 Middle England's favourite supermarket risks causing a rift among its quinoa and kale loving shoppers. Waitrose is no longer serving up a free coffee or classic cuppa tea to customers in some of its stores in the way they've been used to. The roll back on the tempting offer which was first introduced in 2013 – and has [...]
The reading recommendations of today’s corporate titans January 12, 2017 What makes successful people successful? The world’s top entrepreneurs, chief executives and entertainment elite come from all walks of life, so perhaps – good fortune aside – it’s the way they think which propels them above the competition and to the top of their respective fields. The books high achievers choose to read can offer [...]