London named most powerful global city for fifth consecutive year October 18, 2016 The UK capital has been named the world’s most powerful city for the fifth year in a row, beating the likes of New York, Paris, and Tokyo to the top spot – though Paris is making gains elsewhere. The 2016 Global Power City Index, released today by Japan’s Mori Memorial Foundation, ranked London as the top [...]
Apple’s driverless car plans have totally veered off course October 17, 2016 Apple's not-so-secret plans to create a fleet of driverless iCars have apparently veered off course with the tech giant seriously dialling back on its plans for the technology. Project Titan, as it's known internally, has been Apple's worst kept secret for the past year or so and has been credited for its rocketing spend on R&D. Now, Apple has "drastically scaled [...]
London can become home of the ‘decacorn’ – and create its very own Apple, Google or Facebook October 17, 2016 If 2015 was the year of the unicorn, 2016 has been the year of the decacorn. Supercell, a Finnish game developer, earlier this year became Europe’s first ever $10bn (£8.2bn) technology company. Even a few years ago, commentators did not believe the European technology sector could achieve this milestone. Now, it is evident that London [...]
Apple’s move to Battersea Power Station boosted London office take-up in the third quarter October 17, 2016 Take up of London's office space has bounced back in the third quarter as the market adjusted to the new normal following the Brexit vote. According to figures from CBRE, acquisition of office space increased 21 per cent quarter-on-quarter, having fallen by 22 per cent in the second quarter. At 2.9 million square feet (sq [...]
Netflix paid less than £400,000 in UK corporation tax last year on revenues of £37m October 14, 2016 Netflix paid less than £400,000 in UK corporation tax last year, it has emerged. Companies House accounts show the US firm paid €441,775 (£398,610) in UK corporation tax in the year to 31 December. Netflix Services UK’s revenue for the year came in at €40.5m, while its profit before income tax was €1.99m. Read more: [...]
Samsung operating profit to go up in flames to the tune of £2.5bn in the next two quarters after Galaxy Note 7 discontinuation October 14, 2016 South Korean electronics giant Samsung said today it expects to take a $3bn (£2.46bn) hit to its operating profit over the next two quarters because of the discontinuation of its Galaxy Note 7 smartphone. The announcement brings the total losses from the debacle to around $5.3bn. In a market update earlier this week, the company [...]
The Apple store: first look at the iconic Regent Street space, filled with trees, gadgets and polished rock October 13, 2016 The Apple Store – now just called Apple – on Regent Street will reopen on Saturday after a multi-million pound refit by architects Foster + Partners. The new shop banishes the famous glass staircase, instead opening up the space with a tree-lined central “boulevard”. There is also a living wall, a giant screen and an upstairs [...]
Navigating uncertainty: The future of accountancy October 12, 2016 The discovery that a computer error may have caused the sterling “flash crash” last week probably raised wry smiles in board-rooms around the world. The flurry of panicked headlines caused by Theresa May implying that Britain was heading towards hard Brexit apparently tricked trading algorithms into rapid selling of the currency. A meltdown triggered by [...]
Watch out Spotify? Amazon’s music streaming service has arrived October 12, 2016 Amazon will give Spotify and Apple a run for their money in the world of music streaming with the launch of a long-rumoured streaming service. Amazon Music Unlimited will offer access to music for as little as $3.99 (£3.26) per month in the US and is incorporating the service into its Prime offering, which already gives customers a vast array [...]
Apple is ramping up iPhone production after Samsung recall October 12, 2016 Apple and Samsung’s simmering rivalry was taken up a notch amid the South Korean firm’s Galaxy Note 7 meltdown, which is expected to cost billions and threatens to leave its reputation in tatters. Around $18bn ((£14.8bn) was wiped from Samsung’s value as shares plummeted more than eight per cent, its biggest intraday loss since the [...]