Uber driver held in India over rape allegations after woman reports assault in Delhi December 7, 2014 Controversial ride hire service Uber was back in the spotlight yesterday after Indian police arrested an Uber cab driver suspected of raping a female passenger and said they would take legal action against Uber for failing to run background checks on him. Police opened an investigation after a 26-year-old woman reported that she had been [...]
Treasury will reveal tax structures targeted by Google Tax this week December 7, 2014 THE TREASURY will this week unveil details of how it will implement the so-called Google tax, targeting firms that shift profits to overseas tax havens, as well as a list of the “artificial arrangements” used by businesses to dodge UK tax. The draft 2015 Finance Act will be published on Wednesday along with guidance on [...]
Chinese media giants rivalling US dominance December 7, 2014 CHINA is gaining ground on America’s dominance of the world’s biggest digital media companies with the Asian powerhouse now accounting for two of the six largest online media firms, by revenues generated. Baidu, the Chinese internet search firm, and Tencent, the Chinese online services giant, both reached the top six with revenues of $3.4bn (£2.2bn) [...]
Cyber Monday beaten as Black Friday sales soar December 7, 2014 Black Friday trumped Cyber Monday as online transaction volume soared 74 per cent year-on-year, compared to an increase of just 44 per cent on Cyber Monday, showing the meteoric rise of the US shopping event. Since 2011 Cyber Monday (1 December) has outperformed Black Friday in terms of online sales, however this year’s Black Friday [...]
Sky sells majority stake in Sky Bet for £600m to focus on European TV December 4, 2014 BROADCASTER Sky yesterday sold a controlling stake in its online betting and gaming business Sky Bet to private equity firm CVC Capital Partners in a £720m deal. The deal, which comes just weeks after Sky completed the £7bn takeover of its European sister companies Sky Italia and Sky Deutschland, will see Sky receive an initial [...]
Orange expects BT to decide on £10bn EE takeover by Christmas December 4, 2014 THE CHIEF executive of French telecoms group Orange, Stephane Richard, said yesterday that he expected BT to decide before Christmas on whether to bid for the UK’s largest mobile network operator, EE, or its smaller rival, Telefonica’s O2. “BT has its own calendar,” said Richard, speaking at a conference on France’s economy and business climate, according [...]
Autumn Statement 2014: Google Tax set to raise £1bn from companies shifting profits overseas December 3, 2014 Starbucks, Apple and Google will pay higher UK taxes under a new tax that looks to stem the tide of multinational companies shifting profits to overseas tax havens. The Diverted Profits Tax, already dubbed the Google Tax, is set to raise over £1bn over the next five years by applying a 25 per cent tax [...]
Exclusive: TalkTalk chief Dido Harding says watchdog must consider BT and Openreach split December 2, 2014 TalkTalk chief executive Dido Harding has called on Ofcom to consider the separation of BT and its infrastructure arm Openreach, a move she said could create a new FTSE 100 business better incentivised for consumers. Her call comes as BT is believed to be considering asking the regulator for permission to fold its wholesale arm [...]
TalkTalk boss Dido Harding doesn’t fear quad play UK December 2, 2014 As deal fever sweeps the sector, the head of Britain’s budget broadband business isn’t fazed. Dido Harding feels quite relaxed despite the past two weeks’ explosive telecoms deal talk that foreshadows what could be the largest period of consolidation the sector has ever seen. If anything, the chief executive of Britain’s budget broadband provider – [...]
Lending Club IPO: World’s largest online marketplace preparing for $4bn US stock listing December 1, 2014 Lending Club, the world’s largest online marketplace directly connecting borrowers and investors, now intends to raise as much as $800m (£508m) in its upcoming initial public offering in New York. In an updated prospectus yesterday, the peer-to-peer (P2P) lender revealed it plans to price its stock between $10 and $12 a share, giving it a [...]
