Netflix and kill: Digital movie sales overtake DVDs for the first time May 6, 2016 It's official: the DVD is dead. Ok, not quite yet, but we're about to pass a milestone that puts ye olde digital versatile disc firmly in the rear view mirror as the world drives towards a future filled with film streaming. Call it the Netflix effect, but consumers in Britain will spend more of their cash on streaming and downloading films and [...]
Yelp share price surges on revenue of $158.6m May 5, 2016 Yelp's share price jumped by 7.75 per cent in after hours trading after it announced revenue of $158.6m (£109.5m) for the first quarter of 2016 – beating analysts' expectations of $155.6m in sales. The online reviewing service posted a loss of $0.20 per share – equating to a net loss of $15.5m, widened from the [...]
Jack Dorsey’s Square posts $379m revenue for first quarter as losses narrow May 5, 2016 Payment processing firm Square, started by Twitter founder Jack Dorsey, has reported revenue of $379m (£262m), a 51 per cent increase year-on-year, beating analysts' expectations. Analysts had been expecting the company to report $344m in revenue. The mobile payment firm reported sales of $374.4m in the previous quarter. Transaction revenue was $300m, while Starbucks transaction revenue was the next [...]
Apple and SAP join forces to create new apps for business and professionals May 5, 2016 Tech giants Apple and SAP today announced a tie-up that will see the companies create apps for business customers using iPhones and iPads. Apple and SAP said they will combine “powerful native apps for iPhone and iPad with the cutting-edge capabilities of the SAP HANA platform”, which will be used by professionals ranging from company directors [...]
London mayoral election: Here’s who’s winning on Twitter May 5, 2016 As Londoners head to the polls, it'll be another day until we find out the winner, but there's already one Boris replacement on social media – when it comes to mentions, at least. It's Labour candidate Sadiq Khan who's the most talked about on Twitter for the last seven days, and since the very start of the year, ahead of rival [...]
Craig Wright won’t prove he’s Bitcoin creator Satoshi Nakamoto May 5, 2016 The man who claimed to reveal himself as the secret inventor of Bitcoin has now backtracked on promises to prove he really is the person known as Satoshi Nakamoto. Craig Wright made headlines on Monday after outing himself as the unknown person behind the cryptocurrency, but many in the Bitcoin community have raised an eyebrow about the Australian's [...]
Carry on shopping: Alibaba defies China slowdown with fourth quarter revenue May 5, 2016 Alibaba, the Chinese ecommerce giant, has defied the country's economic slowdown, reporting expectation-busting revenue. The Amazon of China's sales rose 39 per cent in the fourth quarter to 24.2bn yuan (£2.55bn) smashing estimates of around 23bn yuan, while income came in at 5.3bn yuan, a rise of 81 per cent. "Whatever they are doing must be working, and [...]
London fintech star Azimo lands millions from Rakuten May 5, 2016 More money is pouring into London fintech as one of its star startups has landed new investment from Japan's biggest ecommerce firm Rakuten, among others. Digital money transfer firm Azimo has raised $15m (£10.3M) in a new round, bringing its total investment to $47m. The new cash will be used to fuel expansion in Asia. “We serve a growing community of hardworking migrants who are [...]
Uber just increased its policy firepower with former EU competition boss Neelie Kroes among new Global Policy Advisory Group members May 5, 2016 The former Brussels official in charge of competition in Europe for more than a decade is among several high-profile names joining Uber's new team of policy advisors. The transport startup which has faced regulatory hurdles in several cities across the globe, including London, has formed a new board of heavyweights to advise on the matter. The former EU [...]
Fearless future: Virtual reality could help cure paranoia May 5, 2016 Using a virtual reality (VR) headset could help cure people's paranoia, Oxford researchers have found. The technology was used in psychological treatment of patients suffering severe paranoia, which affects as much as two per cent of the population in Britain and can leave sufferers unable to leave the house. The research is a significant step [...]