Bitcoin clears $1,000 barrier – but why is this radical alternative currency worth so much? November 27, 2013 The crytocurrency Bitcoin has just breached the psychologically significant $1,000 level. Many have compared the virtual currency's rise to the tulip bulb mania of the 1600s. It suffered a severe correction in April when it lost more than half of its value in days after climbing to over $220. The unconventional means of exchange has [...]
John Lewis hit by week delay of Black Friday November 24, 2013 CHRISTMAS sales at John Lewis slowed last week, as tough comparatives from a year ago prevented a repeat of last week’s stellar growth. The department store group reported sales of £111.9m in the week to 23 November, up 2.1 per cent on the same week last year, as the cold weather drove sales of coats [...]
Xbox One sells a million consoles in first weekend November 24, 2013 MICROSOFT sold more than 1m new Xbox One consoles over the weekend, breaking its previous record with the Xbox 360 and matching Sony’s PlayStation 4 (PS4) launch numbers from last weekend. “We are humbled and grateful for the excitement of Xbox fans around the world,” said Xbox vice president of marketing and strategy Yusuf Mehdi, [...]
Wall St The Week Ahead: Thanksgiving lull ahead of Black Friday November 24, 2013 Wall Street set another record last week, and the rally that has taken the S&P 500 index nearly 30 per cent higher for the year shows no sign of losing steam as Americans prepare to celebrate the Thanksgiving holiday. Trading volume is likely to be light as US stock markets will be closed on Thursday [...]
Best Buy cuts holiday prices November 19, 2013 BEST Buy is cutting prices for the holiday season to thwart fierce competition from Wal-Mart and other discount and online rivals, a move that it warns will hurt margins for the current quarter. Yesterday’s news took some momentum from Best Buy’s stock, one of this year’s hottest, sending the shares down nearly 11 per cent. [...]
Walmart offers $98 flat-screen TV in bid to lure holiday shoppers November 19, 2013 As competition heats up in the US retail sector in the run up to the holidays, Walmart is seeking to entice shoppers with a 32-inch flat-screen TV for only $98 (£61). The world's second largest corporation has also promised to match its competitors' best Black Friday deals a week early. Duncan Mac Naughton, chief merchandising [...]
Swap booze for boos this Hallowe’en October 29, 2013 Whether you’re looking for somewhere to keep the kids happy this Hallowe’en or a haunt for adults to get into the spooky frame of mind, London has something for you. So come out from behind the sofa and get down to some of these gruesome events. RAM Training’s Zombie bootcamp If the idea of being [...]
Mobile pioneer Blackberry crumbles September 23, 2013 $4.7BN: PRICE AGREED LAST NIGHT FOR FALLEN GIANT $4.9BN: VALUE OF NEW iPHONES SOLD IN LAST 3 DAYS BLACKBERRY, the once-great pioneer of the mobile industry, said last night that it has agreed a tentative deal to be taken private for just $4.7bn (£2.9bn). The news came as rival Apple revealed record sales of its [...]
Bottom Line: Watsa’s bite of rotten fruit may be too big September 23, 2013 IT SHOULD have been obvious. Six weeks ago, as Blackberry launched a strategic review, Prem Watsa stepped down from the board. The Fairfax chief executive cited conflicts of interest, but said his investment firm had no intention of selling its shares. Yesterday he made good on that promise – and then some – offering $9 [...]
What the other papers say this morning – 23 September 2013 September 22, 2013 FINANCIAL TIMES Twitter seeks pre-IPO credit line Twitter is in discussions with banks about a new credit facility that could run into hundreds of millions of dollars, giving the internet company extra flexibility ahead of its initial public offering. High quality global journalism requires investment. Sources familiar with the discussions say that Twitter is in [...]