Sky invests $1m in air Drone Racing League in the UK September 14, 2016 Sky said today it has invested $1m (£757,600) to bring drone racing to its new channel next month, as it announced plans to launch the first professional drone race in UK. The distribution deal with organiser The Drone League (DRL), whose competitions allow pilots to fly drones through three-dimensional racecouses, will enable the broadcaster to put on live events and screen [...]
Convenience store openings up by a fifth as the big four try to match our changing shopping habits June 17, 2016 Convenience stores are popping up all over the country as people do fewer weekly shops and opt for fewer, more frequent trips instead. The number of convenience stores has risen by 21 per cent in the past five years. The big four supermarkets – Tesco, Asda, Sainsbury's and Morrisons – opened the stop-off shops at the [...]
“Sainsbury’s footfall is falling short” – analysts react to the retailer’s trading update September 28, 2016 Sainsbury's issued a 1.1 per cent fall in like-for-like sales this morning, and analysts' reactions have been pretty scathing. The retailer boosted its volumes, but the supermarket price war has eroded any benefit Sainsbury's might have wanted to see in its like-for-likes as a result. Sainsbury's share price has dropped 3.67 per cent today following [...]
Sky launches bundle to give Netflix the chills June 29, 2016 Broadcaster Sky is moving into direct competition with streaming upstarts like Netflix with a contract-free online TV, internet, and phone bundle. Sky’s digital service, Now TV, was launched in 2012 and has recently come under pressure from Netflix and Amazon’s TV and movie streaming service Prime Video. Netflix works on a rolling monthly subscription, while [...]
A shortage of land could kill off London’s e-commerce revolution September 13, 2016 Recent reports that Amazon is set to test drone deliveries in partnership with the UK government is just the latest salvo in the fiercely contested battle between the e-commerce giants that are transforming the way we shop. The move also demonstrates the challenges of a constantly evolving logistics sector. City A.M. readers are at the [...]
Oh my god, I can’t believe it: Spotify has 40m paid subscribers, its founder said today September 14, 2016 It seems Spotify founder Daniel Ek has taken a leaf out of Elon Musk's book: the Tesla tycoon is fond of using Twitter to make market-moving musings. And today Ek did just that: 40 is the new 30.Million. 😄 — Daniel Ek (@eldsjal) September 14, 2016 He was, of course, referring to the number of paid [...]
Amazon founder Jeff Bezos becomes the fourth richest person in the world, overtaking Carlos Slim November 11, 2015 Important news for billionaire watchers: last night Amazon founder Jeff Bezos became the fourth-richest person in the world, after a rally in the online retailer caused him to breeze past Mexican telecoms tycoon Carlos Slim. Amazon shares finished yesterday 0.64 per cent up, at $4.19. According to Bloomberg's Billionaires Index, that pushes his fortune up to $58.2bn [...]
Here’s everything that happened in the sixth episode of The Apprentice November 11, 2016 This week’s Apprentice sent the final 12 on a wild goose chase around London in a classic task – the treasure hunt challenge. They were given all night to find every object on a list, which shouldn't have been too hard considering London is now a 24-hour city. Perhaps a more difficult challenge before the advent [...]
John Lewis, Amazon & Lush: UK shoppers’ favourite retailers revealed as Black Friday 2015 draws near November 23, 2015 Amazon, John Lewis and Lush are UK shoppers’ favourite retailers, according to a new ranking showing that customer service has beat out price to become our top priority when shopping. Amazon held the top spot in the hearts of the 10,000 shoppers surveyed by OC&C for its annual Retail Propositions Index, with an approval rating [...]
Corporations are “fighting the wrong battle” on tax avoidance, according to Eurozone finance chief Jeroen Dijsselbloem September 11, 2016 The head of Eurozone finance ministers has warned multinational corporations to pay their share of tax, less than two weeks after Apple was handed a €13bn bill by EU authorities. The European Competition Commission ruled that the tech giant had been handed a “sweetheart” deal amounting to state aid by the Irish government. And now, head [...]