New York Times’ pursuit of subscribers over profit buys into a Big Tech delusion February 4, 2022 Those five, elusive letters. Only when I have found them can my day begin. Alas, they may soon become more elusive still. This week, the New York Times bought Wordle for an undisclosed, seven-figure fee. Ominously, the “Gray Lady” has promised only that Wordle will “initially remain free”. The New York Times has been unusually [...]
TfL funding package expires as talks continue on short-term rescue deal May 29, 2021 The emergency funding support programme agreed between Transport for London and the Department for Transport has come to an end, with discussions continuing on an extension. TfL were forced to go cap-in-hand to central government after passenger numbers collapsed at the start of Covid-19. A funding deal was struck in November 2020 to finish in [...]
Just Eat Takeaway investor calls for merger as it slams stock performance July 27, 2021 A major investor in Just Eat Takeaway has urged the food delivery platform to explore a potential merger as it took aim at the company’s share price performance. Cat Rock Capital, which holds a 4.7 per cent stake in the group, slammed management’s “deeply flawed communication” with investors, which it blamed for a 28 per [...]
Sadiq Khan vows to take on Uber ‘big boys’ in licence decision August 29, 2019 Sadiq Khan has vowed to take on the “big boys” at Uber when it comes to renewing its licence, which expires next month. The London mayor, who revoked Uber’s licence in 2017, said everyone must play by the rules if they want to operate in the capital. Read more: Uber poaches new UK boss from [...]
Deliveroo founder and Amazon gain £70m shares windfall after today’s court ruling June 24, 2021 Shares in Deliveroo shot up 8.5 per cent today after Britain’s Court of Appeal ruled that its riders were self-employed, dismissing an appeal by the IWGB union against past judgements on their status. The boss of Deliveroo saw his fortune balloon by nearly £25m after the company’s riders were dealt a blow in their fight [...]
Former Uber driverless guru charged with stealing secrets from Google August 27, 2019 One of Uber’s former star engineers is facing years in prison after he was yesterday charged with stealing secrets from Google. Anthony Levandowski, one of the world’s leading developers of driverless technology, allegedly took information with him when he left the search giant’s Waymo unit. Read more: Car crash: Uber shows record loss in new [...]
Top 10 most shorted UK stocks: Ailing Cineworld tops the list once more October 27, 2021 Cineworld, Metro Bank and Sainsbury’s are among the UK’s most shorted stocks, new analysis has revealed, as rising interest rates couple with a slower Covid recovery in some footfall-reliant sectors. The most-shorted company is Cineworld, which has had a rough ride during the pandemic after it was forced to close it 9,518 cinema screens during [...]
Lyft maintains end-2021 profitability goal August 12, 2020 Lyft said today that cuts had put the company on track to reach its goal of becoming profitable on an adjusted basis by the end of 2021, even as its revenue fell 61 per cent. Quarterly revenue fell to $339.3m, as the pandemic crushed demand for ride-hailing services in North America. The ride-hailing app said [...]
‘This city becomes unlivable’ say angry Londoners hit by severe transport disruption due to another tube strike March 1, 2022 Londoners said the capital is “becoming unlivable” as strikes across the Tube network left them travelling for hours to get to work. Transport for London announced that all Underground lines would be suspended today as Tube workers stage industrial action against pay and working conditions. John Rayner, 28, a construction worker who was waiting for [...]
Car crash: Uber shows record loss in new results August 8, 2019 Uber disappointed investors yesterday as the ride-hailing app showed its biggest-ever loss, and slowest revenue growth. Second-quarter net loss hit $5.2bn (£4.3bn), widening from $878m, as the company paid up $3.9bn for its May listing. Read more: Lyft off: Ride-hailing app makes inroads as it beats expectations Finance chief Nelson Chai said the company had [...]