Tour de France 2018: Team Sky’s image presents problem for Geraint Thomas as finishes nears | City A.M. July 26, 2018 Team Sky are nearing their sixth Tour de France win in the last seven years and their fourth successive Grand Tour title. With three stages left of cycling’s biggest and most prestigious race, Geraint Thomas sits one minute and 59 seconds ahead of his nearest rival, Tom Dumoulin. Tomorrow’s stage is the final one in [...]
Playr review: Can tech make you a better player? We trial the wearable gadget that promises to improve your football skills | City A.M. July 26, 2018 So you watched England bossing it at the World Cup and thought: I could do that. After all, Jamie Vardy was still playing non-league football in his mid-twenties, you tell yourself. You just need a bit of help from the pros to up your game. Well, that help is now at hand. Playr is a [...]
Saudi Arabia tanker attack edges up oil prices despite dip in the dollar | City A.M. July 26, 2018 Crude prices edged up earlier today following an attack on Saudi Arabian tankers in the Red Sea. A strategic shipping lane was temporarily halted after Iranian-backed Houthi rebels attacked two large oil tankers, closing off one of Saudi Arabia’s major export channels. Read more: Premier Oil approves key project as output slows Brent crude oil [...]
Facebook’s (FB) share price plunges as markets open, losing more than $120bn off its market value | City A.M. July 26, 2018 Facebook has opened in US markets at a loss of almost 20 per cent, wiping roughly $123bn (£93.8bn) off its market valuation. As a comparison, Facebook’s loss is more than seven times the valuation of Snap ($17bn), and almost four times the valuation of Twitter ($33bn). It is roughly equivalent to the total GDP of [...]
Spotify’s (SPOT) results get a rocky reception, as it hits subscriber growth at a €394m expense | City A.M. July 26, 2018 In its second financial report since going public, Spotify confirmed expectations that it won’t be profitable any time soon. The music streaming app, which listed on the New York Stock Exchange directly in April, revealed €1.27bn (£1.13bn) in revenue across its second quarter this afternoon, up 26 per cent year-on-year and in line with analyst [...]
European car makers gain after Donald Trump’s EU ‘trade deal’ promises removal of tariff threat | City A.M. July 26, 2018 Shares in European car makers jumped this morning after President Donald Trump said the trade relationship between the EU and the US was “back on track”, soothing fears of punitive tariffs on vehicle exports. Renault, Volkswagen, Peugeot and BMW all saw their share prices rise by as much as two per cent, while Fiat Chrysler [...]
Number of landlords hiking rents reaches 10-month high in June | City A.M. July 26, 2018 Renters, look away now, as it’s been revealed that the number of tenants who experienced a rent hike reached a ten-month high in June. Arla Propertymark said the number of tenants who reported a rent rise went up by 35 per cent in June, from 28 per cent in May. That’s the largest rate since [...]
UK adtech startup Mirriad signs deal with Chinese behemoth Tencent | City A.M. July 26, 2018 London-based video-advertising technology startup Mirriad has today signed a deal with Chinese media giant Tencent. The deal will utilise Mirriad’s in-video tech to place ads in online video content, even once its in post-production. City A.M. understands that staff from Mirriad will join and pitch with Tencent’s advertising teams as part of the deal, from [...]
Jeremy Corbyn and Donald Trump are two sides of the same protectionist coin | City A.M. July 26, 2018 Protectionism is like a boomerang: just as soon as you think it’s out of sight, it flies back threatening to hit you square in the face. “Tariffs are the greatest!” tweets Donald Trump, while Jeremy Corbyn unveils a plan to stop non-UK firms from bidding for public contracts. Economists do not often agree, but one [...]
Facebook’s share price plummets after reporting slumped growth in its second quarter | City A.M. July 25, 2018 Facebook missed analyst estimates for its second quarter, dashing hopes that the worst was over and causing its share price to fall more than 23 per cent in after-hours trading. Reporting its results tonight, the social media giant revealed its monthly active user numbers had grown to 2.23bn at an increase of just 11 per [...]