Uber puts its pedal to the metal on self-driving cars, halting development on cargo trucks | City A.M. July 31, 2018 Uber will focus its driverless vehicles technology solely on cars for the foreseeable future, halting development plans for cargo trucks. The ride-hailing giant said in a statement late last night that it will close down its self-driving trucks unit, which was born after the company bought a startup named Otto in a multimillion dollar acquisition [...]
Super smash: Nintendo beats expectations despite slowing sales for the Switch | City A.M. July 31, 2018 Nintendo trumped analyst expectations in its first quarter to report an 88 per cent growth in operating profit, despite sales of its Switch console turning sluggish. The profit was boosted by sales of games for the Switch, as returning customers buy up titles to refresh the console rather than hosting an influx of new users. [...]
Samsung profit growth slows in second quarter from ‘sluggish’ smartphone sales | City A.M. July 31, 2018 Mobile phone giant Samsung posted its slowest quarterly profit growth in more than a year today on the back of weak sales on its Galaxy S9 smartphones and tough competition. The figures Profit rose by 5.7 per cent to to 14.87 trillion won (£10.12bn) compared with last year, but took a dive from 15.64 trillion [...]
Trade war heating up between the US and China has ability to ‘derail the global economy’, ratings agency Moody’s warns | City A.M. July 31, 2018 The escalating trade dispute between America and China triggered by President Donald Trump “has the potential to derail the global economy”, an influential ratings agency warns today. The warning comes as representatives from some of the world’s biggest economies gather in Geneva to discuss their response to Trump’s aggressive trade policies. Today’s summit involves nations [...]
If the Tories want to win the youth vote they should forget about Love Island and get radical on housing | City A.M. July 31, 2018 It would be an exaggeration to say that the country has gone Love Island mad, but there’s no doubt that a serious chunk of the population enjoy watching the poolside antics of the toned and honed cast members of ITV’s hit ‘constructed reality’ show, with several million tuning in for last night’s final. Love Island [...]
DEBATE: Should social media sites be regulated to combat fake news and safeguard democracy? | City A.M. July 31, 2018 Should social media sites be regulated to combat fake news and safeguard democracy? Jo Stevens, Labour MP and member of the Commons Digital, Culture, Media and Sport Committee, says YES. When we started our inquiry into fake news, we could not have predicted the sheer scale of what would be uncovered. We are facing a [...]
Retail tech startup behind Tesco and Argos valued at almost £70m, after scoring additional funding | City A.M. July 31, 2018 Virtualstock, a London tech startup which provides cloud-based inventory solutions for retailers like Tesco, Argos and John Lewis, today announced a further £3.4m in funding which has valued the business at almost £70m. Rene Schuster, the former chief executive of telecoms giant Telefonica in Germany, is also joining the firm as its chairman. The funds, [...]
England v India: How the hosts have used the Merlyn bowling machine to get to grips with spin bowling | City A.M. July 30, 2018 The recent break in the weather has brought an abrupt end to the heatwave in this country, but with India in town and more hot, dry days forecast, England know one factor may go a long way towards deciding the centrepiece of the cricketing summer. While Edgbaston, the venue for Wednesday’s first Test, isn’t renowned [...]
Jaguar XK150 Drophead Coupe review: A classic that’s been upgraded for contemporary tastes | City A.M. July 30, 2018 The Jaguar XK150 is basking, roof-down in front of a Mayfair mews house, all voluptuous curves and glinting chrome. It’s a perfect London postcard – but not, it seems, for the well-spoken chap who walks into JD Classics’ Mount Street showroom. “My fantasy car is an E-Type,” he tells me, “preferably in red.” Launched in [...]
HSBC has launched MyDeal, an app for bankers on investor roadshows | City A.M. July 30, 2018 HSBC is rolling out its MyDeal app to new clients, which aims to simplify the experience of investor roadshows with real-time updates on logistics and transactions. The app will aggregate information such as investor feedback and profiles, client orders and deal pricing, as well as keep track of important details like flight delays and contact [...]