Airbnb pinches new finance chief from Amazon ahead of expected IPO November 26, 2018 Airbnb has hired a former Amazon executive to head up its finance team as it looks towards an expected listing in 2019. Dave Stephenson, a 17-year veteran of the online retail giant who most recently served as chief financial officer of the worldwide consumer unit, will join the accommodation platform in January next year. He also [...]
Tech giants criticised for lack of transparency over political lobbying November 26, 2018 Tech behemoths Amazon, Facebook and Google are among the worst companies for failing to offer transparency over their political lobbying efforts, according to Transparency International UK. The organisation's report into corporate political engagement, published today, included assessments of UK companies’ political contributions and lobbying, as well as the so-called revolving door between corporations and politics. Transparency [...]
Black Friday transactions jump 10 per cent on 2017, according to Barclaycard data November 24, 2018 The number of transactions on Black Friday jumped ten per cent year-on-year but the amount spent plummeted compared to 2017, according to credit card data. Consumers spent 12 per cent less while shopping using Barclaycard yesterday compared to Black Friday the previous year. Barclaycard processed an all-time record number of transactions yesterday, hitting 1,087 transactions a [...]
Amazon re-opens its international sites to Australian shoppers after shutdown backlash November 22, 2018 E-commerce giant Amazon has reversed its decision to block shoppers in Australia from buying products on its main website, after new tax legislation in the country caused the retailer to exit the country. Amazon debuted its Australia-only website in July in the wake of 10 per cent tax on goods and services on imported items worth [...]
Amazon launches Black Friday pop-up in Shoreditch after data leak hits UK customers November 22, 2018 Amazon has today opened a pop-up on London's Shoreditch High Street, just in time for Black Friday weekend. The Home of Black Friday pop-up store has returned to the capital after its debut last year, and is now located near Amazon's headquarters from Thursday 22 November until Sunday 25. The shop will feature hundreds of [...]
John Lewis, Sainsbury’s, or M&S? Whose Christmas ad was best this year November 20, 2018 So this is Christmas. And what have you done? Another year over, and the festive ads just begun. Yes, ’tis the season for brands to splash the cash on fancy holiday-themed adverts in hope of attracting that sweet Christmas shopping revenue. Retailer John Lewis has been the reigning champion of the season for the past [...]
European tech stocks slump in worst fall for seven years on Apple woes November 20, 2018 European technology stocks have been hit by their biggest quarterly drop since 2011, after production worries for Apple caused a global industry wobble. Stocks on the pan-European stoxx 600 tech index fell more than 1.8 per cent in trading this morning, hitting its lowest level since February 2017 and charting a quarterly loss of more than 14 [...]
Banks should watch out – the fintech era has barely begun November 20, 2018 The fintech sector makes a lot of noise in London. There’s an endless stream of news about open banking and challenger banks, while the traditional finance sector watches on with a mixture of admiration and suspicion. Banks have come under attack, not only from the hype-machine, but more meaningfully from startups. Traditional finance providers that assumed [...]
Black Friday footfall to dip as retailers extend discounting into the weekend November 19, 2018 Footfall during this year’s Black Friday is expected to slide, with fewer consumers feeling the urgency to shop on Britain’s high streets as retailers plan to extend the frenzied day of discounting into the weekend. Research out yesterday from analytics firm ShopperTrak is predicting the volume of shoppers on the high street will be 6.5 per [...]
Two headquarters are better than one: Amazon confirms New York and Virginia will be home to new HQs November 13, 2018 Web giant Amazon has confirmed it will build its new headquarters in New York City and Northern Virginia, after reports earlier this morning. The online retailer has whittled down over 230 proposals, and decided to split its second North American headquarters over two sites. The projects, which were announced today, will create up to 50,000 [...]