Brands

John Lewis warns of no-deal Brexit impact

John Lewis has fallen to a half-year loss and says a no-deal Brexit will have a “significant” impact. The retailer said while it had prepared for no deal, it could not fully offset the effect and the impact on fresh food supplies was a concern. The stores group, which also owns Waitrose, reported a loss of […]

AMAZON WANTS TO RULE THE AISLES

In early 2017, a memo circulated inside Amazon that imagined an ambitious new grocery chain. The document was written like a news release, a common practice for ideas being weighed inside the company, with the title “Grocery Shopping for Everyone.” The new stores, the document envisioned, would have robust sections for produce, fresh food and […]

LGBT VIDEO MAKERS SUE YOUTUBE AND GOOGLE CLAIMING DISCRIMINATION

A group of YouTube video makers is suing it and parent company Google, claiming both discriminate against LGBT-themed videos and their creators. The group claims YouTube restricts advertising on LGBT videos and limits their reach and discoverability. But YouTube said sexual orientation and gender identity played no role in deciding whether videos could earn ad […]

Uber shares in decline as profit figures disappoint Wall Street

Uber’s shares went into reverse on Thursday after the taxi-hailing company unveiled profit figures that failed to live up to expectations. Revenue growth slowed in face of heavy competition, leading to the company posting its largest quarterly loss. Uber and its rivals are spending heavily to expand, but boss Dara Khosrowshahi said that the competitive […]

Shell profits plunge on lower oil prices

Oil firm Royal Dutch Shell’s profits have plunged to their lowest since 2016, due to lower oil and gas prices. Shell’s second quarter profits dropped 25% to $3.6bn (£3bn), far below analysts’ expectations of $4.9bn. The oil giant blamed “challenging macroeconomic conditions” in refining and chemicals, as well as falling oil prices. In June, the […]

Samsung profits tumble as it warns of ‘challenges’ ahead

Samsung Electronics saw profits plunge in the second quarter as its key chip business faltered, and the firm also warned of “challenges” ahead. The world’s biggest smartphone and memory chip maker said operating profit fell 56% from a year earlier. The results reflect a broader industry slowdown, weighed down by the US-China trade war. The […]

Ryanair hit by air fare battle and Brexit uncertainty

Ryanair has reported a sharp fall in quarterly profits as it reduced fares to drive up passenger numbers. Profits fell 21% to €243m (£219m) for the three months to the end of June, as the average ticket price fell 6%. The airline was also hit by higher costs for fuel and staff. Chief executive Michael […]

Sports Direct regrets House of Fraser rescue

Sports Direct says it regrets rescuing House of Fraser in its much-delayed results, which revealed a €674m (£605m) tax bill from Belgium authorities. The firm, which bought the department store out of administration a year ago, said: “If we had the gift of hindsight we might have made a different decision in August 2018.” It described […]

Amazon marketplace investigated by EU

EU anti-trust regulators have opened an investigation into Amazon after allegations that it misuses “sensitive data” from independent retailers who sell on the online giant’s website. Anti-trust commissioner Margrethe Vestager said she would take “a very close look” at its business practices. The European Commission said it would examine Amazon’s standard contracts with marketplace sellers. […]