How county cricket is fighting back by embracing live streaming | City A.M. July 17, 2018 Depending on who you listen to, county cricket is either in bloom or wilting on the vine. Its flagship event, at least in theory, is the County Championship – a venerable 128-year-old competition which sees 18 counties play four-day matches throughout the summer. It has taken some flak in recent years – and not just [...]
Former Apple employee pleads not guilty to stealing trade secrets for Chinese rival | City A.M. July 17, 2018 Ex-Apple employee Xiaolang Zhang pleaded not guilty in a Californian court today, after he was accused by federal prosecutors of stealing trade secrets. Zhang was indicted last week on a single count of trade secret theft, on the back of evidence submitted by Apple which alleged he accepted a job at Chinese rival Xmotors, then [...]
Ceru review: Say hello to the new Levantine star of Soho | City A.M. July 17, 2018 This former pop-up has just opened a second permanent home in the ultra-competitive foodie heart of Soho, at 11 D’Arblay Street. Ceru is short for cerulean, the blazing shade of azure, which is a reference to the colour of the sea around the Levant, the region this restaurant celebrates. For the geographically challenged, it’s the [...]
China’s Didi scores $500m and a $1.5bn spinoff deal ahead of an early 2019 exit | City A.M. July 17, 2018 Chinese ride-hailing service Didi Chuxing today announced $500m (£380.1m) in investment from the US parent of Booking.com, alongside rumours of a potential deal to sell off its car services unit for $1.5bn. Though the company has yet to comment on any plans for an initial public offering, it is thought that Didi will need to [...]
Colin Montgomerie interview: “Competitiveness, more than the game of golf, is what gets me up in the morning.” | City A.M. July 17, 2018 Colin Montgomerie doesn’t need to be asked twice whether, after 30 years on tour and a list of achievements as long as one of his tee shots, the competitive fire still burns bright. “It does, you know. It really does,” he tells City A.M. “I’ve had the same caddie now for 25 years, every victory’s [...]
Netflix’s share price (NFLX) is having its worst day in two years, after opening 10 per cent lower | City A.M. July 17, 2018 After releasing lacklustre second quarter results late last night, Netflix is on track for its worst-performing day on Wall Street in two years. The streaming giant’s share price was down 13 per cent as markets opened, having dropped as much as 14 per cent in after-hours trading. The move makes today its biggest one-day drop [...]
IBM throws support behind cryptocurrency linked to US dollar | City A.M. July 17, 2018 IBM has launched a new cryptocurrency linked to the US dollar in partnership with financial services provider Stronghold. The companies said the ‘stable coin’ called Stronghold USD, which launched on the stellar blockchain platform today, would add stability to the highly volatile cryptocurrency market. Major cryptocurrency Bitcoin has plummeted 55 per cent in 2018 after [...]
Budget watchdog the Office for Budget Responsibility (OBR) says extra unfunded NHS spending adds to “unsustainable” outlook for public finances | City A.M. July 17, 2018 The Treasury’s budget watchdog today warned that the government’s spending plans, including a planned £20.5bn boost to National Health Service (NHS) spending, are unsustainable without tax rises or further spending cuts. The Office for Budget Responsibility (OBR) said that the public finances are “likely to come under significant pressure over the longer term” as an [...]
IBM looks to sue Groupon for $167m over alleged patent infringement | City A.M. July 17, 2018 IBM is suing coupons site Groupon for $167m over allegations the company used patented technology without permission. IT giant IBM argues that Groupon infringed its patent by using e-commerce technology which it had licensed to other companies including Amazon, Facebook and Google parent firm Alphabet for between $20m and $50m each. Lawyer John Desmarais, representing [...]
Tesla shares sink nearly three per cent after Musk calls British caver ‘pedo guy’ on Twitter | City A.M. July 17, 2018 Tesla shares closed nearly three per cent down yesterday after boss Elon Musk sent a derogatory tweet about one of the British cave divers involved with the rescue of a football team in Thailand. Shares fell up to 3.5 per after Musk wrote a tweet, which has since been deleted, calling British caver Vernon Unsworth [...]