From energy to insurance: How Open Banking could fix the loyalty penalty headache July 29, 2019 You don’t get to be Prime Minister without having a few political gifts. One of Theresa May’s was her ability to spot the issues that people cared about – even if she found it harder to come up with effective ways of improving them. That was why her maiden speech outside Downing Street was so [...]
Prime delivery race creates hurdles for Amazon July 25, 2019 Retail giant Amazon disappointed investors and analysts alike tonight, reporting profit for its second quarter well below estimates and breaking its long-running record earnings streak. Profit came in at $2.6bn (£2.1bn), or $5.22 per share, for the three months to the end of June. Analysts were expecting income of $5.57 per share. Amazon also said [...]
After Facebook, what to expect from Amazon and Alphabet earnings? July 25, 2019 Facebook delivered a beat to earnings forecasts, but with the US Department of Justice launching an investigation can Big Tech continue to deliver for shareholders? Results from Facebook were even better than expected, showing that it continues to drive user growth and ad revenue growth. Facebook is still loved by advertisers. Remember it’s not just Facebook [...]
Uber and rival Ola sniffing around London’s Addison Lee July 24, 2019 Uber and Indian ride-hailing firm Ola are mulling bids for London-based taxi firm Addison Lee, which could create a powerful force in one of the world’s biggest private transport markets. Read more: Uber rival Viavan wins three year license renewal from TfL The US giant and Ola are two of “a handful” of companies talking [...]
Competition watchdog kicks off probe into JD Sports’ Footasylum acquisition July 24, 2019 The competition watchdog has kicked off its probe into JD Sports’ acquisition of Footasylum. JD Sports bought the remaining shares in the footwear retailer in a deal worth £90m in March this year, with shareholders approving the sale the following month. Read more: JD Sports on track to meet profit expectations However, the Competition and [...]
US opens industry-scale tech giant antitrust probe July 23, 2019 The US Department of Justice is to open an investigation into whether the activities of major tech firms are anti-competitive. The review will explore “whether and how market-leading online platforms have achieved market power and are engaging in practices that have reduced competition, stifled innovation, or otherwise harmed consumers,” the department said tonight. The probe [...]
Murdoch gets green light for merger of the Times and the Sunday Times July 23, 2019 The government has given the go-ahead for plans to merge parts of the Times and the Sunday Times, as the newspapers look to adapt to shifts in the media industry. Read more: UK government set to give green light over Murdoch newspaper merger Rupert Murdoch’s News UK empire put forward proposals earlier this year to [...]
Farewell, Failing Grayling: Here are your five finest moments in office July 23, 2019 Any article written about transport secretary Chris Grayling over the past year has tended to start with a not-so-favourable adjective. “Embattled”, “Beleaguered” and “Failing” spring to mind. As of this week, Grayling – who is likely to be ousted as the head of the Department for Transport (DfT) when Boris Johnson enters No.10 – can [...]
Government intervenes in Inmarsat deal on national security grounds July 22, 2019 The UK government is to investigate the sale of London-listed satellite company Inmarsat to a private-equity and pension fund group on national security grounds, it said today. Read more: Inmarsat bidders look to appease government Inmarsat, Britain’s biggest satellite company, agreed in March to be bought by an international group including buyout firms Apax and [...]
Up in smoke: Tobacco firms feel burn of disruption July 22, 2019 Disruption, whether as a result of new technology, stricter regulations or changing consumer habits, is affecting all sectors of the global economy, as we discussed here. It’s the new normal and the question is no longer which areas are affected; the question now is to what extent they are affected. Read more: Stranger Things vs Mickey Mouse: How the media [...]