Author: Dave Antrobus

A significant £6.3bn investment by US tech firms will boost the UK’s data centre capacity.CyrusOne, ServiceNow, Cloud HQ, and CoreWeave are at the forefront of this initiative.The development is part of the UK’s strategy to position technology at the centre of economic growth.New data centres are expected to enhance AI development and create job opportunities in the UK.The UK’s recent designation of data centres as critical infrastructure underlines their strategic importance.Four prominent US technology companies—CyrusOne, ServiceNow, Cloud HQ, and CoreWeave—have announced a substantial combined investment of £6.3 billion to expand data centre infrastructure in the United Kingdom. This move is…

The European division of SharkNinja, headquartered in Leeds, United Kingdom, has demonstrated commendable financial growth. In 2023, the company reported a pre-tax profit of £81.5 million, reversing a loss of £19.7 million in the previous year.The substantial financial turnaround is primarily driven by a surge in demand for their air fryer products. This significant rise marks a notable achievement for the home appliance giant and highlights the evolving consumer trends favouring cost-effective and efficient kitchen solutions.Significant Financial TurnaroundSharkNinja’s European arm has reported a remarkable financial recovery in 2023, with pre-tax profits soaring to £81.5 million. This marks a recovery from…

Revolut has been named in more fraud complaints than any major UK bank this year.An investigation revealed over 10,000 fraud complaints linked to Revolut, outnumbering traditional banks.A customer reported losing £165,000 due to ineffective security and inadequate support from Revolut.Industry insiders suggest a focus on product launches over financial crime prevention at Revolut.Revolut criticises social media giants, demanding better fraud prevention measures and accountability.Revolut has emerged as the leader in fraud complaints among major UK banks, with nearly 10,000 cases reported over the past year, as found by a BBC Panorama investigation. This figure surpasses the complaint numbers of Barclays…

In a bid to expand its influence in the payments sector, Revolut is launching an advanced payment terminal aimed at accommodating larger businesses.The new device, set to debut in the UK and Ireland, aligns with Revolut’s strategy to boost its business-to-business services during peak festive seasons.Revolut’s Strategic Market ExpansionFintech company Revolut is poised to significantly increase its presence in the payments sector, specifically targeting larger businesses with its newly launched payment terminal. The device, called the Revolut Terminal, is strategically set for introduction in the UK and Ireland ahead of the festive season. This move not only aims to enhance…

In a significant acknowledgment, economists Daron Acemoglu, Simon Johnson, and James Robinson have been awarded the prestigious 2024 Nobel Prize in Economics.Their seminal work on understanding how institutional frameworks affect national prosperity has garnered this highest academic honour. The trio’s research sheds light on how inequalities in institutional structures contribute to disparities in economic growth across countries.The Nobel Prize Committee recognised the economists for elucidating how institutions shape economic outcomes. Acemoglu, Johnson, and Robinson analysed the impact of historical and contemporary institutions on countries’ prosperity, arguing that societies with inclusive systems tend to be more prosperous.In their acclaimed 2012 publication,…

Waitrose is witnessing an unprecedented early surge in Christmas shopping activities.Searches for Christmas gifts and party foods on Waitrose.com have increased threefold compared to previous years.Interest in festive confectionery and desserts has doubled, indicating heightened early festive spirits.70% of delivery slots have been filled since the festive service initiation on 25 September.The most in-demand delivery day, 23 December, already has nine out of ten slots occupied.Waitrose has reported a significant increase in early Christmas shopping activities, as demonstrated by the rise in online searches for festive products. According to the retailer, consumers are planning early, with searches for Christmas gifts…

Sainsbury’s has launched an initiative to improve its convenience stores, targeting a ‘Next Level’ shopping experience.The supermarket chain is reviewing its range of products and deciding whether to add or remove lines.Space optimisation in stores aims to enhance product availability for on-the-go shoppers.Sainsbury’s plans to open its first airport convenience store at Edinburgh airport.Part of a broader strategy, the programme targets increased space for food in high-potential stores.Sainsbury’s has embarked on a comprehensive programme to enhance the product range in its convenience stores, a move intended to deliver a ‘Next Level’ shopping experience. This initiative, which commenced last weekend, will…

The potential closure of the AIM market has sparked significant concern among industry leaders.Claire Milverton, CEO of 1Spatial, emphasises AIM’s role in their fiscal stability and growth.The Tony Blair Institute suggests a new listing route for tech firms instead of closing AIM.Milverton fears the main market’s regulations could harm 1Spatial’s progress.James Ashton of the Quoted Companies Alliance warns closure could limit UK funding options.Claire Milverton, CEO of the data management software company 1Spatial, has expressed her concerns about the possible closure of the AIM market. AIM has played a crucial role in the company’s development, especially during challenging financial periods.…

The property portfolio value of Selfridges has experienced a significant reduction.According to The Sunday Times, valuers marked down the assets by 20.6%.A considerable loan amount, maturing in 2025, is secured against the freehold properties.External factors such as interest rates and market rents influenced the devaluation.Central Group and PIF have made notable moves towards acquiring Selfridges.The value of Selfridges’ property portfolio, which prominently includes its Oxford Street flagship store, has experienced a substantial decrease as reported by The Sunday Times. Valuers have marked down the store’s property assets by £638.6m, equating to a 20.6% reduction from its original £3.1bn valuation. This…

Concretene, a leading nanotech firm, has achieved a milestone by securing £3 million in venture capital funding.This financial backing is pivotal for advancing its graphene-enhanced concrete aimed at drastically reducing construction emissions.Investment Secured for Innovative TechnologyA Manchester-based nanotechnology firm has successfully secured significant venture capital investment. Concretene, known for its graphene-enhanced concrete, recently received £3 million in funding. This investment was led by Molten Ventures and further supported by LocalGlobe, a European investor that initially provided seed funding to Concretene in 2023. These funds are aimed at bringing Concretene’s carbon-saving concrete technology to a broader market. This development marks a…