Asos eyes cutting 100 jobs as part of turnaround plan for fashion retailer October 31, 2022 Asos is looking to slash 100 jobs as the fashion retailer tries to rebuild after hemograhing losses. The London-listed company confirmed it was launching a consultation on a number of roles across the firm, after it was first reported in RetailWeek. The retailer, which currently employs around 3,300 people, will begin mulling which roles to [...]
Twitter plans to charge users $20 for blue tick verification as Musk pushes for revenue growth October 31, 2022 Elon Musk is reportedly gearing up to introduce paid verification on Twitter in a bid to drive up revenue. According to initial reports from The Verge, Twitter is currently planning to charge $19.99 for the new Twitter Blue subscription, adding to the current optional premium offering it has. According to insiders and internal correspondence seen [...]
‘The bird is free’: Elon Musk’s $44bn Twitter takeover gets mixed reaction October 28, 2022 After months of uncertainty, the world’s richest man, Elon Musk, finally completed his $44bn takeover of Twitter. The billionaire entrepreneur announced the long-awaited deal, tweeting this morning: “The bird is free”. The owner of Tesla made a dramatic entrance to the company’s San Fransisco HQ on Wednesday evening carrying a porcelain basin, tweeting: “let that [...]
The torrid week for tech continues as Amazon sheds £175bn October 28, 2022 The torrid week for tech continued last night, with Amazon leaving investors bewildered and Apple somehow defying the trend of its Silicon Valley cousins. Amazon shares tumbled as much as 18 per cent on Thursday night, wiping $202bn (£175bn) off its valuation. The major sell-off came after the e-commerce giant warned against weaker consumer spending [...]
British Airways owner IAG’s profits soar as leisure demand booms October 28, 2022 British Airways owner IAG is back in the black with a profit after tax of €853m (£736m), as leisure revenue has recovered to pre-pandemic glory. The London-listed firm swung into profit in its third quarter results – ahead of market expectations – after posting a 2021 loss of €574m. IAG’s overall passenger capacity plans are [...]
CZ confirms Binance is an investor in Elon Musk’s Twitter acquisition October 28, 2022 Cryptocurrency exchange Binance has revealed it is a major investor in Elon Musk's $44 billion takeover of social media platform Twitter.
Britain’s workforce is sick and tired and it’s killing our economic prospects October 28, 2022 Britain’s economy is under the weather and if left unchecked, we risk becoming tarred as the sick man of Europe once again.
Budweiser owner hikes guidance after raking in higher-than-anticipated beer sales October 27, 2022 Brewing giant AB InBev has lifted its yearly earnings guidance after posting higher than anticipated earnings, with punters’ thirst for beer not waning despite high inflation levels. Raising a glass to its best quarterly performance this year, on a volume basis, the Budweiser maker elevated its 2022 guidance. EBITDA is now anticipated to rise between [...]
Made scraps hunt for a buyer as sofa seller nears collapse October 27, 2022 Ailing Made.com has said it has cut short its hunt for a buyer, as the homeware firm teeters on the brink of collapse. In an update to the London Stock Exchange on Thursday morning, the furniture retailer said there was “no reasonable prospect” of an offer. Shoppers have been pulling back from spending on big [...]
Ben & Jerry’s owner Unilever warns of shoppers buying less as inflation bites budgets October 27, 2022 Dove maker Unilever has seen consumers buying less of products after price hikes, as the consumer goods titan has ushered in record price rises. Prices increased by 12.5 per cent in the period, the brand’s highest ever hike, as consumers battle cost increases in every corner of life. The London-listed consumer goods giant admitted price [...]