Google overtakes Exxon to become US’ second biggest firm February 10, 2014 Tech giant Google has overtaken the world's No1 oil producer, Exxon, to rank as the US' second largest company by market capitalisation. On Friday Google closed with a cap of $395.42bn (£240.96bn), versus Exxon's $392.66bn, according to FactSet data. The shift marks the changing landscape of the US economy, as more of its capital shifts [...]
The Bitcoin bug threatening the web’s favourite cryptocurrency February 10, 2014 Top Bitcoin exchange MtGox has released an update on the issue that saw Bitcoin prices crash last week. MtGox have discovered a critical flaw with Bitcoin, that every exchange is now having to deal with. That fault threatens the functioning of the digital currency. The problem is known as “transaction malleability”. Here’s their non-technical explanation: [...]
Carl Icahn drops $50bn Apple buyback proposal February 10, 2014 News in this afternoon that Carl Icahn has discarded his Apple buyback proposal. Icahn, who is one of Apple’s biggest shareholders, was pushing for the tech giant to repurchase $50bn more of its shares this year. Apple shareholders were due to vote on the non-binding plan on 28 February. But in a letter to fellow shareholders, [...]
Rising prices see Brits working three more days a year February 10, 2014 On average people are having to work three more days a year to pay for essential items such as gas, water and electricity compared to 2010, according to research carried out exclusively for ITV News. In 2013, the rising cost of utilities meant the average UK employee had to work for 20.1 days (based on [...]
The 4 big things tech firms are set to unveil at Mobile World Congress February 10, 2014 Mobile World Congress (MWC) is one of the biggest event in the telecoms calendar. Starting on the 23 February this year and lasting all week, it has become the place to launch new mobile products. Samsung Samsung is widely expected to reveal its Galaxy S5 at its aptly named Unpacked 5 event on Monday 24 [...]
African Barrick Gold soars on cheerful HSBC outlook February 10, 2014 All that glitters certainly is gold for African Barrick Gold, the FTSE 250-quoted miner that soared over eight per cent this morning. As well as benefitting from a rise in the yellow metal price today, the company was given a boost by an upgrade from HSBC. This is an encouraging sign for ABG after a [...]
What you need to know before the US open – 10/02 February 10, 2014 Today’s looking like something of a waiting game for US markets, as investors ready themselves for Janet Yellen’s first public appearance as Fed chair tomorrow, speaking to US lawmakers. It also looks like investors may be coming off Friday’s high. After equities rallied at the end of the week, futures suggest a slip at the [...]
Victoria set for £4bn investment as Armani and Jimmy Choo relocate February 10, 2014 Victoria is set for a £4bn investment over the next decade as developers cash in on companies following in Armani and Jimmy Choo's footsteps and relocating their headquarters to the area. London’s busy transport hub has undergone a major shift over the last ten years as government departments who were traditionally the biggest office-users in [...]
Government copies Thick of It storyline February 10, 2014 Sometimes life imitates art so perfectly, that it's hard to believe it's true. Nick Clegg's ‘alarm clock Britain' may not have been quite as ridiculous as The Thick of It's 'quiet bat people', but it came fairly close. But now, one event has actually bettered a storyline in the political comedy show. Last week, Viscount [...]
Dubai launches drone delivery fleet February 10, 2014 The government of Dubai is leading the way in the use of drones to deliver essential items, according to reports from Sky News. The United Arab Emirates (UAE) is planning to use the drones as part of a programme to improve government services. The four-rotor unmanned aerial vehicles are will use fingerprint and retina identification [...]