Music retailer HMV on the verge of second administration since 2013, reports December 28, 2018 HMV is set to go into administration for the second time in six years, putting 2,200 jobs at risk, according to reports. The company reportedly filed a notice of intention to appoint administrators last week as it held last minute talks with suppliers, Sky News reported this morning. The company was bailed out in a [...]
Wall Street falls as stocks fail to capitalise on bear market December 27, 2018 US stock markets dropped today, wiping out a portion of yesterday’s bump as US consumer confidence fell to its lowest point since July. Following its first ever 1,000-point daily surge yesterday, the Dow Jones fell 441 points to 22,439. The 1.9 per cent drop was led in part by technology stocks as Apple, Amazon and Google’s [...]
US stocks suffer worst week in a decade as ‘Santa rout’ sends Nasdaq into bear market December 22, 2018 Wall Street suffered its worst week in a decade as a “Santa rout” plunged the Nasdaq into bear market territory last night. The Nasdaq fell three per cent on another volatile day’s trading and has now fallen almost 22 per cent from its 29 August high. The S&P 500 dropped 2.1 per cent and is [...]
Bear markets: Lessons from history December 21, 2018 Simon Edelsten, manager of the Artemis Global Select Fund and the Mid Wynd International Investment Trust, asks what history can tell us about bear markets… There are many who claim an ability to anticipate the next correction, whether through fundamentals, charts, or the fact that their taxi driver has started offering stock tips. Others take [...]
Qualcomm triumphs against Apple in German iPhone hardware case December 20, 2018 A court in Germany has ruled that Apple infringed a hardware patent owned by chipmaker Qualcomm in some of its iPhone models. The judge said the US firm will not be able to sell some iPhone models in Germany containing an Intel chip from Apple supplier Qorvo, which violated one of Qualcomm's patents around so-called envelope [...]
London pipped by New York as top destination for business trips December 20, 2018 London is the world's second most popular business destination but is facing stiff competition from Paris. The capital was once top of the rankings, but was overtaken by New York four years ago. This year, 10 per cent more business travellers booked flights to New York than London, flight data from Egencia shows. But London could be [...]
For Facebook, Apple, Amazon, Netflix and Google, 2018 was the year when trust in the tech giants evaporated December 20, 2018 The Faangs (Facebook, Amazon, Apple, Netflix, and Google-owner Alphabet) have been the darlings of the stock market for years. These tech giants have helped to change how we shop, communicate, work – even how we watch movies. But as they have grown in size, fears have also grown, especially about what they may do with so [...]
Facebook shares down after investigation reveals true extent of data-sharing with other tech giants December 19, 2018 Facebook’s shares fell 6 per cent today after an investigation revealed the company gave big tech companies far greater access to users’ personal data than it had previously admitted. The social media giant let Microsoft’s Bing search engine see the names of virtually all users’ friends without their permission, according to reports. The New York [...]
The year crypto went crazy: what’s next for bitcoin in 2019? December 19, 2018 This was the year the world woke up to cryptocurrencies. When the Bitcoin price bubble burst in December last year, having hit almost $20,000 (£15,886) per coin in value, governments, banks and tech giants alike began to sit up and take notice. The City was faced with a decision: is Bitcoin a vehicle for fraud [...]
France will tax Amazon and Facebook as tech tax talks with the EU falter December 18, 2018 France expects to pull in around €500m (£450m) each year as it introduces a new tax on major technology companies such as Amazon and Apple. Speaking in Paris, finance minister Bruno Le Maire said he would push ahead with the tax plans after talks to establish an EU-wide version collapsed earlier this month, AFP reported. [...]