Square ties-up deal with Starbucks
Square, the mobile payments start-up created by Twitter co-founder Jack Dorsey, yesterday took a big step towards the mainstream when Starbucks announced it would use its smartphone technology to replace transaction systems in its US coffee shops. Under the deal, Square will process all Starbucks transactions done with credit and debit cards.
Avatar creator backs China 3D TV
James Cameron, creator of the blockbuster film Avatar, is betting that China is the place to jump-start 3D television. Cameron Pace Group, the 3D technology company co-founded by Mr Cameron, yesterday announced a joint venture with two Chinese state-backed companies to produce the advanced camera equipment needed for 3D filming.
Foreigners to dominate UK property
Foreign institutional investors are on course to become the dominant force in the UK commercial-property market, having pulled level with domestic pension and insurance funds for the first time.
Overseas financial institutions own 23 per cent of the UK’s £717bn property market.
Cycle success inspires surge in sales
Cycling firms have reported a surge in demand since recent British triumphs. Visa Europe reported that bike-related sales were 15.8 per cent higher last week, while Evans Cycles reported a 35 per cent increase in the sale of road bikes.
Cashmere firm crushed by pensions
Shares in Dawson International, one of the UK’s last cashmere manufacturers, were suspended yesterday after the firm said it was unlikely to be able to meet its pension liabilities.
The Daily Telegraph
Half of Brits not planning pension
Almost half of all Britons are not planning to use a pension to fund their retirement, relying instead on savings, inheritance or money from their property to see them through, according to research from Baring Asset Management.
Royal Wedding carpet firm in pay row
Victoria, the company that made the red carpet for last year’s Royal Wedding has become embroiled in a pay row after its non-executive directors allegedly demanded a bonus if the company was sold.
THE WALL STREET JOURNAL
Ex-UBS Traders offered deal
US prosecutors have agreed to shield several former UBS employees from criminal charges in return for cooperation with the escalating investigation of suspected interest-rate manipulation, according to a person close to the probe.
New checks on Rolls-Royce engines
European air-safety regulators have ordered another round of inspections of Rolls-Royce PLC engines on dozens of Airbus A380 aircraft, similar to the checks that followed a 2010 engine blowout.