Wework to rebrand as The We Company in business structure overhaul, turning its eyes to fintech January 8, 2019 Shared workspace provider Wework is rebranding itself as The We Company, as the firm aims towards a more diversified business portfolio. To be announced at an internal company conference later this week, The We Company will become the parent to several offshoots, including Wework as its main office provider. Others include its residential unit Welive, and an [...]
LG profits to plummet 80 per cent in festive quarter, as Samsung shares hit by weak chip demand January 8, 2019 LG Electronics has said its operating profit for the fourth quarter is likely to drop 80 per cent from the same period in 2017, falling miles away from previous analyst expectations. The world's second largest TV manufacturer has forecasted profit of just 75.3bn won (£52.5m) for the three months to December last year, which is also [...]
Wework launches a shoppable London office pop-up store, designed by influencers January 8, 2019 Shared workspace tech giant Wework has today launched a pop-up office in Holborn that is completely shoppable, and is designed with influencers in mind. Open throughout January, the pop-up is filled with office decor from brands such as Urban Outfitters which can be bought via the Liketoknow.it app. Londoners can sign up online to grab [...]
Oracle founder Larry Ellison reveals billion-dollar stake in Tesla January 8, 2019 The founder of software giant Oracle has disclosed a stake in the US' most shorted public company Tesla, worth approximately $1bn (£784.1m). The news, published in a filing with the US Securities and Exchange Commission (SEC), comes after Larry Ellison joined Tesla's board in December. Ellison is a long-time friend of Musk, and is currently [...]
Softbank shares up on reports it will scale back Wework investment amid tech rout January 8, 2019 Shares in Softbank rose more than five per cent this morning following reports it has scaled back its new investment in Wework. The Japanese conglomerate reportedly plans to invest $2bn (£1.6bn) into the shared workspace startup, down from the original sum of $16bn. The investment will no longer involve Softbank’s prolific $100bn Vision Fund, the [...]
Time for a super-ministry to lead the fourth industrial revolution January 8, 2019 When I was elected to parliament, one of the first things that I campaigned on was the need to develop a comprehensive industrial strategy. The future of the country depends on a strong industrial base – not least because this is the starting point for the innovation that will maintain the UK’s position as a [...]
Apple analysts have let us down yet again January 8, 2019 Apple analysts, huh, what are they good for? Absolutely nothing. Say it again… Yep, that’s right, I just butchered one of the most powerful lyrics of the past 50 years. Lyrics immortalised by Edwin Starr in the 1970 Vietnam protest song, but for me it kind of grabs your attention and makes the point rather [...]
RBS invests in digital banking startup to rival Monzo and Starling January 7, 2019 The Royal Bank of Scotland has invested in digital current account aimed at students and young people that has set out to rival challenger banks Monzo and Starling. The £2m investment in fintech startup Loot was made through Natwest’s digital-only retail bank Bo, which is due to launch this year, and takes its total shareholding to 25 per [...]
Japanese billionaire businessman takes crown for most retweeted tweet January 7, 2019 A Japanese fashion billionaire has taken the crown for the most retweeted tweet of all time after receiving 4.5m retweets for a message he posted on the micro-blogging site on 5 January. Yusaku Maezawa, who founded Japanese online clothing retailer Zozo, also received 1.1m likes for his tweet and 293,000 comments. ZOZOTOWN新春セールが史上最速で取扱高100億円を先ほど突破！！日頃の感謝を込め、僕個人から100名様に100万円【総額1億円のお年玉】を現金でプレゼントします。応募方法は、僕をフォローいただいた上、このツイートをRTするだけ。受付は1/7まで。当選者には僕から直接DMします！ #月に行くならお年玉 pic.twitter.com/cKQfPPbOI3 — [...]
DEBATE: With Apple sales slowing and the share price tumbling, is China to blame? January 7, 2019 With Apple sales slowing and the share price tumbling, is China to blame? Neil Goddin, manager of the Kames Global Equity fund, says YES. Unlike the western world, the Chinese people are likely to support their country in the midst of a trade war by not buying American if they don’t need to. They would not [...]