Google UK employees earned £226,000 on average last year April 3, 2019 Staff at Google’s UK offices earned an average of £226,000 last year after the firm paid out more than £340m through its share scheme. The tech firm paid £829m to its employees in the year to the end of June, up from £657m the previous year. The company, which currently has three main offices in [...]
Digital advertising firm Teads posts revenue rise as it looks to fend off tech giants April 2, 2019 Digital advertising firm Teads has posted a 30 per cent jump in revenues for the full-year as it looks to win back market share from Facebook and Google. The media platform pulled in revenues of €365m (£314m) last year after extending its reach to 1.4bn global monthly users and more than 90 per cent of [...]
Is Uber the new Amazon? April 2, 2019 By Edmond Jackson from interactive investor. In a test of narrative power versus whopping financial losses, so-called “ride-hailing” or “ridesharing” giants Uber and Lyft have rivalled each other to list on the New York Stock Exchange – Lyft got there first. Both capture the spirit of the times, connecting taxi drivers to passengers via their [...]
MPs call for full breakup of audit’s Big Four in wake of scandals April 2, 2019 MPs have triggered a war of words in the City after calling for a radical breakup of accountancy’s Big Four firms. A highly-anticipated report by the Business, Energy and Industrial Strategy (Beis) Committee, released today, said the audit and consultancy arms of Deloitte, EY, KPMG and PwC should be forcibly divided to drive up competition [...]
Still doubting the benefits of free markets? Just look at Ethiopia April 1, 2019 “It's a zero-sum game,” says Gordon Gekko in Oliver Stone’s 1987 film, Wall Street. “Somebody wins, somebody loses.” This sentiment relies on the idea is that there is a fixed amount of wealth to go round. It is nonsense – yet many, perhaps unthinkingly, believe it. Read more: Editor's Notes: The future of capitalism deserves more [...]
Financial Conduct Authority confirms ban on sale of binary options to retail consumers March 29, 2019 City watchdog the Financial Conduct Authority (FCA) said today it was banning the sale, marketing or distribution of binary options to retail customers. Binary options are financial instruments that allow traders to speculate on which way a market will move. Read more: The FCA has to show it really means business The FCA said the [...]
Mark Kleinman: Chairs face revolt over independence day March 29, 2019 Who’s the odd one out on this list of veteran FTSE-350 bosses? As chairs of Babcock International, Domino’s Pizza and GVC Holdings, Mike Turner, Stephen Hemsley and Lee Feldman find themselves among the first victims of governance reforms decreeing the end of their ability to act independently after nine years on the board. In the [...]
Dignity welcomes watchdog’s probe into high funeral prices March 28, 2019 Dignity has welcomed a competition probe into the funeral sector announced today. Read more: Dignity shares slide after regulator proposes funeral competition probe The Competition and Markets Authority (CMA) said it will carry out a full market investigation into the industry after voicing concerns over high prices and a lack of competition. Dignity, the UK’s [...]
Asda and Sainsbury’s propose selling 150 stores to save merger March 22, 2019 Asda and Sainsbury's have offered to sell up to 150 supermarkets and several convenience stores in a bid to save their proposed merger. Read more: Sainsbury's and Asda double down on £1bn price cut pledge to salvage deal The supermarkets promised they could divest between 125 and 150 supermarkets and "a number" of the convenience stores in [...]
Google grants €500,000 to regional UK publishers for podcast venture March 21, 2019 Local publishers Reach and JPI Media have secured €500,000 (£433,000) in funding from Google to launch a new podcast project for local news. The grant will help the two regional publishers, which have partnered with podcast platform Entale, to develop the new audio project known as Laudable. Read more: The Bureau of Investigative Journalism secures £800,000 [...]