Microsoft splashes cash on video game streaming startup Beam August 11, 2016 Microsoft is getting in on the live games streaming action with its latest acquisition. The tech giant – fresh from snapping up LinkedIn in a $26bn (£20.1bn) deal – has acquired Beam, a Seattle-based startup which live streams video games. Read more: YouTube has launched its own live gaming service It will be rolled into Microsoft's Xbox operations, and [...]
Alibaba’s shares are on a tear after a huge revenue jump August 11, 2016 Alibaba certainly isn't feeling the effects of the Chinese slowdown just yet. Shares in Alibaba – the world's largest retailer – have climbed by almost six per cent in the US pre-market after it posted revenue far ahead of expectations. Alibaba's shares were already up around seven per cent so far this year. A rise in revenue was bolstered [...]
Perform kicks off live sports streaming service in three European countries August 10, 2016 UK-based media company Perform has launched its live sports video streaming service in Germany, Austria, and Switzerland. DAZN – inexplicably pronounced Da Zone – is described by Perform as the world’s first dedicated live sports streaming service and allows subscribers to watch games on demand. Football is expected to be the services' top draw with the English Premier League, Italy's Serie A, Frances' Ligue [...]
These are the 20 richest billionaires in tech August 10, 2016 The world's wealthiest tech billionaires have added another $50bn to their wealth over the past year, while titans Jeff Bezos, Mark Zuckerberg and Jack Ma climbed the ranks. Bill Gates retained his long-standing title as the world's richest tech billionaire, the latest rich list compiled by Forbes reveals, despite a $1.6bn decline in his wealth since 2015. Read more: Meet [...]
Morrisons gets a discount on new deal with Ocado August 9, 2016 Morrisons and Ocado have struck a new deal that will see the supermarket deliver to more areas in Britain, and also reduces the fees Morrisons has to pay the online grocer. Shares in both grocers rose on the news, with Morrisons up 1.5 per cent at 190.9p in early trading, while Ocado rose 2.6 per [...]
Oca-done deal: Morrisons expected to unveil new home delivery tie-up this week August 8, 2016 Supermarket chain Morrisons is expected to announce a refreshed tie-up with online grocer Ocado this week. The deal will enable Wm Morrison to compete more aggressively in the home delivery space by giving it nationwide coverage. Read more: Morrisons sales nudge up as Potts marks first year at helm The company is likely to announce the [...]
Walmart nabs Amazon rival Jet.com in $3.3bn deal August 8, 2016 US retail giant Walmart has scooped up Amazon rival Jet.com in a $3.3bn (£2.5bn) takeover, the companies announced today. The deal, which Walmart will use to bolster its online offerings, has been approved by both companies' boards of directors and is expected to close in the second half of this year. Part of the $3bn [...]
Amazon’s Japan office reportedly raided August 8, 2016 The offices of Amazon in Japan were raided by authorities, according to local media. Officials from the Fair Trade Commission, the country's competition watchdog, were probing the retail giant's offices on suspicions that it unfairly forced sellers to favour its own platform over rival ones, according to Nikkei. Read more: Prime Day was the biggest [...]
City A.M. Unregulated podcast: Property entrepreneur Rob Moore on the joys of being disruptive August 8, 2016 Uber's Travis Kalanick has done it. Amazon's Jeff Bezos did it two decades ago. Tesla's Elon Musk does it on a regular basis. This week property entrepreneur Rob Moore, host of the Disruptive Entrepreneur podcast, takes on the topic of disruption. He tells us the story of his failure and subsequent success – and why despite everything, [...]
This was the biggest City office deal in the last quarter August 4, 2016 Amazon made the biggest office deal in the City in the last quarter, taking 47,101 sq ft of space in Beaufort House. Research from BNP Paribas Real Estate showed Amazon made the biggest City move in a period when lease length fell from 9.5 years to 7.8 years as occupiers sought more flexibility. Read more: Westfield Stratford set [...]