Facebook has quietly set up shop in China, despite its sites being blocked there | City A.M. July 24, 2018 Facebook has opened a subsidiary with $30m (£22.2m) in registered capital in China, using its Hong Kong business as the sole shareholder. An official business registration was filed for the company in Hangzhou last week, Reuters first reported. Its operations will include network information technology development and related services, investment consultancy and marketing planning. Facebook’s [...]
Cryptocurrency Bitcoin hits $8000 in bullish price surge as confidence grows | City A.M. July 24, 2018 Bitcoin has bounced back to its highest level in over two months today, marking a wider revival for cryptocurrencies after a tough start to the year. According to Coindesk’s bitcoin price index, the world’s largest cryptocurrency surged above $8000 earlier today in a feat not seen since late May, while also enjoying its highest control [...]
‘Tariffs are the greatest!’ Donald Trump goads EU ahead of Juncker meeting | City A.M. July 24, 2018 Donald Trump has goaded the EU ahead of tomorrow’s visit from Jean-Claude Juncker, saying “tariffs are the greatest”. The US President, who has imposed a series of tariffs on steel and aluminium products entering the US from countries including EU member states, is due to meet with the President of the European Commission tomorrow. Juncker [...]
Beat the heat: Five deceptively simple ways to keep cool in the office during the summer heatwave | City A.M. July 24, 2018 Summer is here, and so are long hours of working in a sweaty office. Even if your office doesn’t have air con, there are easy hacks to keeping cool: here are five ways to help you survive the heat wave and stay comfortable during the working day. 1. Wear the right clothes It’s a no [...]
IG Group predicts 10 per cent revenue hit from leverage limits after record year | City A.M. July 24, 2018 Spreadbetting firm IG today warned that it expects imminent limits on the leverage available to traders to push down revenues in 2019 after reporting record revenues for the year. Net operating income rose 17 per cent year-on-year to hit £571.2m in the year ending in May, IG said. Profits rose by 34 per cent to [...]
Debate: After Tesco revealed plans to launch a discount chain, can it compete with Aldi and Lidl? | City A.M. July 24, 2018 After Tesco revealed plans to launch a discount chain, can it compete with Aldi and Lidl? Yes – Tim Smith is head of retail at Konica Minolta Marketing Services. One of Tesco’s strengths is having the confidence to observe and learn from the work of other retailers. After investing in the customer journey and looking [...]
Alphabet’s second quarter income takes a $4.7bn hit, but beats estimates on revenue | City A.M. July 23, 2018 Alphabet’s second quarter income took a $4.7bn (£3.6bn) hit thanks to last week’s antitrust fine, but substantially beat consumer estimates with a 26 per cent increase on revenue year-on-year. Google’s parent company reported revenue of $32.7bn in the second quarter of 2018, outperforming estimates of $32.1bn as collated by S&P Global Market Intelligence. Net income [...]
Starling Bank ditches its trademark purple for a new set of fintech clothes | City A.M. July 23, 2018 Digital challenger bank Starling has revamped its debit cards, drifting away from its trademark purple colour and turning card design on its head. The new cards will be in portrait rather than landscape, designed to reflect the way consumers use their cards in real life at an ATM or in a card machine. “The reason [...]
McLaren 570GT Sport Pack car review: How does the supercar from Woking compare against its competitors? | City A.M. July 23, 2018 Did you doubt McLaren could make a success in the supercar big league? We admit we thought the company from Woking probably wouldn’t make the cut. Since its roadgoing F1 gained almost mythical status since its launch some 25 years ago, but it’s easy to overlook the fact that McLaren only planned to build 100 [...]
Facebook leases huge Kings Cross offices to join Silicon giants Google and Youtube in new Silicon area | City A.M. July 23, 2018 Facebook has leased a huge plot of new offices in Kings Cross, joining Silicon neighbours like Google and Youtube nearby in one of the area’s largest ever commercial deals. Comprising 611,000 square feet (sq ft) and 6,000 workstations, the two buildings mark a significant step in the commercial development of Kings Cross, with the new [...]