Sony Xperia Touch review: A projector that turns any surface into a touchscreen – but is it any more useful than a tablet? July 26, 2017 There’s a research laboratory hidden deep inside the bowels of Sony’s labyrinthine headquarters, where cackling scientists in crisp white coats mix vials of fizzing coloured liquids and bash misbehaving robots on the head with giant spanners, with the goal of inventing all manner of contraptions in total secrecy. From this department of experimental ideas comes [...]
Amazon is now worth half a trillion dollars as market cap surges past $500bn ahead of earnings July 26, 2017 Amazon is now worth half a trillion dollars… yep, that’s trillion with a T and an R. The retail and technology giant’s market cap shot above the mark ahead of earnings due on Thursday and as stocks across the board on Wall Street were swept higher. Read more: Jeff Bezos is tantalisingly close to becoming [...]
Metro Bank share price leaps six per cent after successful £278m capital raise July 26, 2017 Metro Bank’s share price leapt up six per cent today after the challenger completed a £278m capital raise and laid out its half-year results. The lender said the “significantly oversubscribed” share placement “secures fresh capital which will allow the phenomenal momentum in Metro Bank’s growth to continue”. Chief executive Craig Donaldson told City A.M. he [...]
Sage Group share price dips after $850m deal to acquire US software firm Intacct July 26, 2017 Shares in Sage dipped more than four per cent in morning trading on Wednesday morning after it splashed $850m (£653m) on US financial software company Intacct. The deal is the FTSE 100 firm’s biggest ever acquisition and will be funded via cash and share options. “The acquisition of Intacct supports our ambitions for accelerating growth [...]
The Gospel Oak to Barking electrification works that were meant to finish last month have been delayed until January 2018 July 26, 2017 The £130m upgrade of the Gospel Oak to Barking line on the London Overground that was due to be finished last month won’t be finished until January next year, Network Rail announced today. Transport for London had said in May last year that the electrification work would finish by the end of this June, but [...]
Next global downturn will be ‘onerous’, warns Standard Life economist July 26, 2017 Although the previous financial crisis may still be fresh in many people’s minds, it may be time to start looking to the next, according to a report from Standard Life Investments. The asset manager studied business cycles across the world to understand better where economies are in their lifecycle, with a view to spotting recessions [...]
Mark Zuckerberg and Elon Musk are embroiled in a geeky spat over artificial intelligence and robots July 26, 2017 We can officially hand out the award for geekiest fight of the year. Two of the most influential entrepreneurs of the last decade, Facebook founder Mark Zuckerberg and serial entrepreneur Elon Musk, have entered into a war of words over the future of robots and artificial intelligence. The pair have taken opposing sides in the [...]
FTSE 100 private equity firm 3i announces £68m gains from weakening sterling as total return climbs July 26, 2017 The drop in sterling’s value may have caused a headache for some UK businesses, but London-listed private equity house 3i has managed to turn it to its advantage. Read more: Bank of England deputy governor says sterling depreciation could boost British business investment In its first-quarter performance update this morning, the European investor revealed its [...]
Skype billionaire Niklas Zennstrom and LocalGlobe back UK fintech startup Cleo and its Facebook AI chatbot for finance July 26, 2017 The billionaire co-founder of Skype and one of the UK’s top startup venture capital investors are backing a UK fintech behind a chatbot helping people with their finances that could kill off banking apps. Niklas Zennström along with Robin and Saul Klein’s LocalGlobe have invested £2m in a seed stage funding round of Cleo. Cleo’s [...]
London business is certain: We should stay in the Single Market July 26, 2017 On 8 June, the electorate sent a clear and simple message: a rejection of the government’s misguided plans for an extreme hard Brexit. Before the election, the government was driving at breakneck speed towards a cliff edge – an exit from the European Union that would mean crashing out of the Single Market without either [...]