Rapha co-founder and chief executive Simon Mottram on why the cycling company split from Team Sky April 4, 2017 Four years ago niche cycling sportswear firm Rapha beat German behemoth Adidas to supply the kit to the world’s best known cycling club, Team Sky. At the time, Simon Mottram, its chief executive and co-founder, felt this was the just the platform the retailer needed to take things up a gear. “We sold a lot [...]
Apple dropping Imagination Technologies is a major signal of its future AR, VR, machine learning and driverless car plans beyond the iPhone 8 April 4, 2017 The revelation that Apple plans to ditch the supplier behind chips which power the iPhone, Imagination Technologies, is a huge blow for the British tech company. Shares in Imagination dropped 70 per cent in trading and finished the day 62 per cent down at 103p, their lowest level since 2009. The share price fall saw [...]
Burberry has licenced its beauty business to US group Coty April 3, 2017 Burberry is to licence its beauty business to the US group Coty in a new strategic partnership that will bring in around £180m. Coty will pay £130m for the long-term licence to the business, plus about £50m for inventory and other assets. Burberry will then receive ongoing royalty payments from October 2017. Burberry will take [...]
Bitcoin prices jump as Japan makes the cryptocurrency legal April 3, 2017 Bitcoin prices have surged following Japan’s decision to allow the cryptocurrency as a legal method of payment, marking a major step in its adoption. The price of a bitcoin rose above $1,140 (£909) according to Coindesk’s price index. Just over a week ago one bitcoin was trading below $1,000. Japan’s new law will mean bitcoin [...]
Half of Heathrow Airport’s 25,000 noise complaints for the last three months of 2016 were made by 10 people April 3, 2017 Heathrow Airport received over 100,000 noise complaints for the total of 2016, with 25,672 made in the last three months of the year and half of those submitted by 10 people. From October to December, 10 people submitted 13,075 complaints between them, while five very persistent people complained more than 1,280 times in that period. [...]
Imagination Technologies’ warning from Apple: What the analysts say as share price crashes 70 per cent April 3, 2017 Imagination Technologies has gone from potential takeover target by Apple to being warned by the tech giant that its technology will be dropped from future devices. The UK company, which derives around half of its business from its licensing to Apple, indicated that it believes that Apple does not have the capabilities to create its [...]
Imagination Technologies Group (IMG) share price crashes as it gears up for a battle with Apple: US tech giant says it no longer needs British firm’s intellectual property April 3, 2017 British tech firm Imagination Technologies has revealed that Apple, its biggest customer, could end royalty payments for the use of its intellectual property in two years time. Shares in Imagination dropped by 63.2 per cent at the open and 45 minutes into morning trading were down 70 per cent. Imagination’s share price has plunged this [...]
The Financial Conduct Authority (FCA) unveils new rules for lenders to help credit card holders facing persistent debt April 3, 2017 The financial watchdog has called for lenders to step in earlier when handling customers unable to make more than the minimum repayments on credit card debt. The Financial Conduct Authority (FCA) said around 3.3m people were stuck in “persistent debt”, where they have shelled out more in interest and charges than they have repaid of [...]
Commercial property investment in London’s West End hits record high of £1.93bn in the first quarter of 2017 April 3, 2017 Commercial property investment in London’s West End has hit a record high of £1.93bn in the first quarter of 2017, driven by buyers from Hong Kong. According to Cushman & Wakefield (C&W), the figure is up by 22 per cent on the five-year first quarter average, surpassing the West End’s previous record of £1.8bn in [...]
We’re going to build Crossrail 2 and the private sector is going to pay for it April 3, 2017 Passengers crammed on to the Central, District, Circle and Piccadilly Lines are gasping for the opening of the Elizabeth Line, running from west to east, from Heathrow to Canary Wharf and beyond, late next year. But what about Londoners packed on to the north-south Northern, Victoria, Bakerloo and Jubilee Lines who suffer from similar over-crowding [...]