Week in Sportbiz: Is crypto the next big player in sports sponsorship? Plus Extreme E’s Suez near miss and Amazon’s Six Nations interest March 25, 2021 Where US sports lead, others tend to follow, so it was with interest that industry insiders noted developments in Florida this week. Miami Heat’s home is set to be rebranded the FTX Arena after the NBA side struck a naming rights agreement with the cryptocurrency exchange. FTX will pay $135m for the 19-year deal, the [...]
Amazon to slim down Deliveroo stake after blockbuster float March 23, 2021 Amazon is set to trim down its stake in Deliveroo following the food delivery firm’s blockbuster initial public offering this year. The ecommerce giant plans to sell around 23m shares as part of the stock market debut, allowing it to raise as much as £107m from the deal. Its stake in Deliveroo will be reduced [...]
City Moves: Who is switching jobs in the Square Mile this week? March 10, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. New strategy director joins Wates Construction Wates Construction Group has appointed a new strategy and integration director for its recently formed group of businesses Wates Integrated Construction Services (WICS). Joining the London office, [...]
Week in Sportbiz: Formula 1 takes the pain; Budweiser buys NBA rights; watch every PGA Tour shot; World Rugby’s bad timing; squash, the great survivor March 4, 2021 “Our goal was to try and take the pain in 2020,” Greg Maffei, president of Formula 1 owners Liberty Media, told investors this week. Maffei can consider that mission accomplished after Liberty laid bare the devastating effect of the pandemic on F1’s finances last year. F1 slipped from a $17m profit in 2019 to a [...]
How do you replace somebody like Jeff Bezos? February 6, 2021 There are very few CEOs who are household names, and fewer still whose actions, ethics and business acumen are discussed as widely as Jeff Bezos. Jeff Bezos and Amazon are almost interchangeable – he basically is the company which he has worked so hard to build. This week though, the founder and CEO of Amazon [...]
Screenshot: How Amazon set up shop on cloud nine February 5, 2021 This week **Media Moment of the Week: Parish the thought **How Amazon set up shop on cloud nine **Will BT look to the stars? Media Moment of the Week: Parish the thought Anyone who thinks local politics is boring has clearly never attended a meeting of the Handforth Parish Council Planning and Environment Committee. Or [...]
Amazon to hire 1,000 UK apprentices as revenue surges February 5, 2021 Amazon will hire 1,000 apprentices across the UK this year as the ecommerce giant continues its rapid expansion amid a pandemic-driven trading boom. The US tech firm said the roles will cover more than two dozen different programmes ranging from engineering, safety technicians and broadcast production to IT and HR. The plan includes 100 degree-level [...]
New Amazon chief needs to think about his company’s role in society February 5, 2021 Amazon’s recent financial report saw it hit another huge milestone, delivering its largest quarter by revenue of all time at $125.56 billion – reaching the $100 billion mark for the first time. This success has much to do with founder Jeff Bezos’s relentless focus on the customer and their unchanging needs: value, choice and convenience. [...]
Amazon’s UK sales surge to £20bn thanks to lockdown boom February 3, 2021 Amazon’s UK revenue jumped more than 50 per cent to hit $26.5bn (£20bn) last year as coronavirus lockdown sparked bumper demand for online shopping. The US tech giant last night reported full-year sales of $280.5bn, with revenue surpassing $125bn in the final three months of the year alone. But in-depth documents filed with the Security [...]
Jeff Bezos to step down as Amazon chief executive as quarterly sales hit $125bn February 3, 2021 Jeff Bezos will step down as chief executive of Amazon this year, moving to the new role of executive chair. Amazon today said Bezos will transition to the new job in the third quarter and will be replaced as chief executive by Andy Jassy, who currently leads Amazon Web Services. It came as the ecommerce [...]