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 [...]
Tapdaq co-founder Ted Nash talks Fit or Fugly, app discovery, and why virtual reality is about to change our lives forever November 28, 2016 Some people go through their whole life without finding what they’re passionate about, or only discover it later in life. I’m very fortunate because I found something I was passionate about at a very early age, and it’s become my career,” says Ted Nash, co-founder and chief executive of Tapdaq, whose platform enables app developers to [...]
Stephen Hawking: Artificial intelligence research crucial to the human race October 20, 2016 The UK is about to further boost its status as a world leading centre for artificial intelligence (AI) with the launch of a new centre in Cambridge which is set to explore the implications the technology holds for humans. Officially opened by Professor Stephen Hawking on Wednesday, the £10m Leverhulme Centre for the Future of Intelligence [...]
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 [...]
Supermarket sell-off: grocers’ share prices fall as HSBC analysts predict Asda will cut prices July 6, 2016 The big grocers' share prices fell today after analysts said Asda may cut its prices, trimming the industry's profits and intensifying the supermarket price war. HSBC analyst David McCarthy said: "We believe there are signs that Asda may be about to fundamentally reposition on price, bringing down sector profits. Read more: Traders betting against troubled supermarkets "Asda has been [...]
Checking out: non-exec director waves goodbye to Morrisons after Ocado deal August 12, 2016 Irwin Lee, a non-executive director at Morrisons – and chair of the supermarket's remuneration committee – will be leaving the board at the end of August. Lee is stepping down to become the chief executive of Rustan Supercenters Inc, a supermarket chain in the Philippines, his native country. He joined Morrisons in July last year to help [...]
Sky rebrands Movies to Cinema as it regroups amid growing competition from online streaming sites June 15, 2016 Broadcaster Sky is hoping a change to its popular film channels will be able to arrest the recent downward trend in its share price. TV networks around the world are battening down the hatches against a rising tide of competition. From 8 July, Sky will premiere a new film every day on its movie channels. [...]
Mark Zuckerberg added $1.9bn to his wealth in less than 24 hours July 28, 2016 How do you fancy making $1.9bn in less than a day? You'd need to have founded the hottest company of the last decade and exclusively wear grey T-shirts – yep, basically, be Mark Zuckerberg. Yesterday the Facebook founder was worth $53.3bn. Today, his wealth stands at an even heftier $55.2bn. Not at all bad for less than 24 [...]
Amazon posts jump in profits as cloud sales grow 70 per cent October 22, 2015 Profits at online retailer Amazon jumped in the three months to September, the company has announced today. Amazon posted net income of $79m (£51m), or $0.17 per share in the three months September, compared to a net loss of $437m, or 0.95 cents a share, in the same period last year. Net sales were reported to be [...]
Britons abroad have had an expensive summer – here’s how much the nation overspent due to the Brexit vote August 21, 2016 Britons on holiday abroad have overspent to the tune of roughly £500m this summer due to the fall in the value of sterling. Recent retail sales figures from the Office of National Statistics (ONS) showed Britons spent more than expected after the EU referendum – but retail strategist Richard Hyman said "when the suntan starts to fade, they will [...]