Amazon beats on profits, but tariff uncertainty weighs on stock May 2, 2025 Amazon topped Wall Street expectations in the first quarter of 2025, posting a 62 per cent jump in profit year on year. But a softer than expected cloud result and a cautious outlook for the coming quarter were enough to send shares lower in after-hours trading. This reflects the sensitivity of big tech valuations in [...]
M&S and Co-op: UK retailers brace for cyber attacks May 1, 2025 Two of the UK’s most recognisable retail brands – Marks and Spencer and Co-op – found themselves at the centre of a growing cyber security storm this past week. From suspended online orders at M&S to locked-down systems at Co-op, the message from the frontline is clear: cyber threats are no longer just an IT [...]
Lego to relocate 1,500 staff to new landmark headquarters May 1, 2025 Lego is set to move its London headquarters from Farringdon to the iconic 76 Southbank in 2027, it has been confirmed. The Danish company will occupy 192,000sqft across three-and-a-half floors in the riverside building, originally designed by famed brutalist architect Sir Denys Lasdun. The redeveloped site, next to the National Theatre, has been modernised by [...]
Microsoft shares jump after AI bets pay off May 1, 2025 Microsoft shares surged over six per cent in after hours trading on Wednesday after the tech giant delivered another quarter of better than expected earnings, driven by its booming cloud and artificial intelligence (AI) businesses. The company posted revenue of $70.1bn (£52.5bn) for the quarter ending in March, up 13 per cent year on year, [...]
Bet365: Billionaire Coates family consider £9bn sale of betting giant May 1, 2025 The billionaire Coates family is exploring a potential sale of Bet365, the online gambling powerhouse they founded, in a deal that could value the business at up to £9bn. Stoke-on-Trent-headquartered Bet365, which is led by Denise Coates, has recently held talks with Wall Street banks and US advisers about strategic options including a full or [...]
Apple slammed for App Store violations in Fortnite case May 1, 2025 A US federal judge has found Apple in a wilful violation of a court order requiring it to ease restrictions on app developers, marking a major development in the long-running legal battle with Fortnite creator, Epic Games. The ruling paves the way for the return of Fortnite to the iOS App Store in the US. [...]
Tesla denies claims of Musk succession search May 1, 2025 Tesla has denied reports that its board is seeking a replacement for chief executive Elon Musk, after a Wall Street Journal report claimed the company had began a search for its new chief executive, amid mounting concerns on his political entanglements. In a post early Thursday on X, the social media owned by Musk, Tesla [...]
Meta surges on bold AI spend – but tariff risks loom May 1, 2025 Meta platforms delivered strong first quarter earnings after market close on Wednesday, with revenue and profit surpassing Wall Street expectations thanks to continued growth in advertising and an aggressive push into AI. But the firm’s exposure to global trade tensions and regulatory headwinds in its European market present a complicated picture for investors evaluating the [...]
London’s AI surge at risk from skills crunch, Amazon warns April 30, 2025 London businesses are embracing artificial intelligence (AI) faster and more comprehensively than the rest of the UK, but the capital’s acute digital skills shortage risks limiting the broader economic gains from this progress. New research from Amazon Web Services (AWS) revealed exclusively to City AM that 67 per cent of London-based businesses have now adopted [...]
Meta launches ChatGPT rival app ahead of key earnings April 29, 2025 Meta platforms debuted its standalone AI app on Tuesday, marking its most direct move yet against OpenAI’s ChatGPT – and doing so just 24 hours ahead of its first earnings report of the year. The app, built on Meta’s llama models, features on AI assistant, image generation, and a ‘discover’ feed to showcase user prompts, [...]
