Internet

Uber may be low on fuel for London fight

22 Sep 2017

The UK capital has decided not to renew the ride-hailing app’s licence, citing an irresponsible approach to safety and security issues. Boardroom upheaval makes it harder for Uber to address the concerns credibly, while a dented image could undermine Londoners’ enthusiasm to help.

Chinese online retailer sits in lap of IPO luxury

21 Sep 2017

Secoo has carved out a nice niche, selling upscale brands such as Tod's and Versace. Its customer base is small, though, and the firm is burning cash. Even so, impressive order sizes and a clean image make it a tempting target for counterfeit-fighting Alibaba and mass-market JD.

Activist has fighting chance with China’s Sina

19 Sep 2017

U.S. hedge fund Aristeia is going after the $8 bln Chinese web company. Sina looks like a good target: it is clearly undervalued and its boss is not protected by super-voting shares. A big stake in microblogging affiliate Weibo offers some straightforward ways to create value.

“Angry Birds” may struggle to float on thin air

15 Sep 2017

Rovio, known for the popular mobile game, plans to list with a value up to 900 mln euros. Though the price is more sensible than initial reports, it’s still flighty for a one-game franchise. Another warning sign is that many existing investors are using the offering to fly off.

Hong Kong is better off without dual-class shares

14 Sep 2017

Hong Kong’s securities watchdog has conceded in a battle for control over listing approvals, says the SCMP. Regulators can still reject proposals for unequal voting rights, which might lure tech IPOs at the expense of governance. But they'll need to get used to being unpopular.

Chinese web grocer’s IPO requires a strong stomach

14 Sep 2017

Food giant COFCO wants to raise up to $600 mln floating an online supermarket. Sales are growing as web shoppers splurge on fresh produce. But the group is investing heavily in logistics. Throw in a costly price war with Alibaba and others, and investor appetite may be lacking.

Facebook’s fuzzy math blurs its TV picture

6 Sep 2017

A claim to reach 100 mln younger people in America doesn't square with U.S. census figures, an analyst found. Despite a growing list of number blunders, advertisers have limited sway over the $500 bln titan. As Facebook pushes into streaming, though, it'll find tougher pushback.

Soft tech dominance brings on hard fight

31 Aug 2017

The exit of internet-monopoly researchers from a Google-funded think tank signals a larger battle. Tech firms have reaped fortunes controlling search, data and advertising. The companies and regulators are slowly taking the concentration of influence more seriously.

Carrefour’s ills demand Tesco-like revamp and more

31 Aug 2017

The French supermarket said full-year operating profit could fall 12 percent, partly due to stiff competition at home. The grocer’s new CEO faces even more challenges than Tesco’s Dave Lewis did three years ago. Domestic market share is shrinking and its online offering is weak.

Telecom Italia breakup is a three-way tug of war

24 Aug 2017

Government ministers are talking about separating Telecom Italia from its network. A breakup could be beneficial for the Italian government, and TI’s biggest shareholder Vivendi. Other shareholders would be harder to satisfy.

WPP underestimates pinch from corporate austerity

23 Aug 2017

The ad group cut its 2017 net sales guidance, blaming lower spending by consumer-goods giants which make up about a third of revenue. Boss Martin Sorrell reckons this will reverse. The danger is that zero-based budgeting and shareholder activism make frugality the new normal.

Snap won’t easily pull a Facebook-Google-Alibaba

22 Aug 2017

The messaging app's stock is 20 pct below the IPO price. That's territory its big internet predecessors encountered before roaring back - and beyond. Evan Spiegel's creation could snap back, but it's on weaker footing and losing money.

O2 – and Britain – are losers in 5G spectrum fight

21 Aug 2017

Telecom operators BT and CK Hutchison’s Three are threatening legal action over planned auctions of mobile spectrum. The rules are sturdy enough to promote competition and a court fight could delay the rollout of superfast 5G internet. Rival O2 and Britons have the most to lose.

Founders’ coup leaves a void at Infosys

18 Aug 2017

Vishal Sikka delivered three years of outsize returns. Now the Indian outsourcer's first professional CEO has resigned, against the board's wishes, after criticism from founder shareholders. Finding a solid outsider who can put up with the backseat driving will be challenging.

Advertisers rise to VIP status for Alibaba

17 Aug 2017

The Chinese e-commerce group raked in over $7 bln of sales in the recent quarter, thanks to a surge in ad dollars. Marketing revenue already accounts for half of the total, and Alibaba is pushing hard to attract more top brands. These early efforts look promising.

Like much else, Amazon can sell debt in a flash

16 Aug 2017

The e-commerce giant’s blowout $16 bln bond deal suggests further potential for it to pursue M&A. Yet in nearly tripling debt to buy brick-and-mortar Whole Foods, Jeff Bezos’ outfit is starting to look like a traditional retailer. The risk is that its stock will do the same.

Tencent is biggest target in China cyber crackdown

16 Aug 2017

As Beijing's campaign to control content gathers pace, gaming giant Tencent, which delivered another set of strong quarterly results, is an easy target for censors. Its soaring market value, however, suggests investors have yet to factor in the risk to earnings.

Rocket buyback hints at change of trajectory

14 Aug 2017

A 100 mln euro share buyback is an attempt to show the German tech investor has completed its wobbly booster phase. As it now has 1.7 bln euros of net cash, that’s partly true. But ongoing losses, and doubt over the IPO of HelloFresh, could constrain its upward potential.

Tech and telecom overdue to converge in Washington

11 Aug 2017

A bipartisan plan aims to level the regulatory landscape for broadband providers such as Comcast and influential web outfits like Facebook. Different online-data standards now apply. It's time for one set of rules and a single enforcer to police how privacy is handled.

UK shows consumers the value of their data

11 Aug 2017

A new law will hand citizens greater powers over the use of their online information. For companies, compliance standards will get steeper – as will fines for breaches. Showing people what happens to their digital data also makes it more likely they will seek compensation for it.