Peleton Interactive, the fitness company that sells internet-connected exercise bikes and treadmills, has recalled more than 125,000 treadmills and paused sales after the machines were linked to the death of a child and reports of other injuries. The US Consumer Product Safety Commission also announced a separate recall of the Peloton Tread and Tread+ treadmills …
Child Death Prompts Peleton to Recall Treadmills Read More »
Cryptocurrency Bitcoin hit a new high recently, worth $60,000 (£43,100). The market value is said to have exceeded $1 trillion earlier this year. Much of this is due to Bitcoin’s gradual integration and acceptance within large firms. Tesla has announced they will be accepting Bitcoin as payment for their cars in the future, and Mastercard …
Last year in May, O2 and Virgin Media announced their intentions to merge into an entertainment and telecom firm, becoming a rival to BT & Sky. A year later and after a thorough, two-phased investigation, the Competition and Markets Authority has provisionally approved the £31bn merger, stating that it was “unlikely to lead to any …
Competition law and Big Tech Competition law has become increasingly important over the years, while regulators have been trying to control the great powers of Google, Amazon, Facebook, Apple and Microsoft (GAFAM). The massive expansion of these companies is much quicker than the procedural bureaucracies of regulators and, more often than not, such firms will …
Microsoft Sued for Abuse of Dominant Position – Again Read More »
ASOS strikes £295m deal to buy four brands from the failed retail group Arcadia. ASOS is buying the Topshop, Topman, Miss Selfridge and HIIT brands but not their shops. The acquisition will be set out in two parts – ASOS is paying £265m for the brands and a further £30m for the stock. The acquisition …
ASOS Strikes £295m Acquisition Deal with Failed Retail Group Arcadia Read More »
Streetwear hoarder On 25 February, Bloomberg Businessweek published a profile on Joe Herbert and his thriving sneaker-resale business, West Coast Streetwear. At just 19-years old, Joe has launched a lucrative resale business off the back of sneaker bots. Sneaker bots are advanced software programs that allow Joe to automatically add shoes to his cart and purchase …
The online retail giant’s boss announced his unexpected departure as he revealed a surge in Amazon sales over the Christmas 2020 quarter. He is to hand over the role to Andy Jassy during Summer 2021, but Bezos is not really going anywhere, staying on in the company as executive chair. Bezos has pledged to focus …
Flutterwave, the payment processing company, closed a series C funding round, raising $170 million. In doing so, it took the company’s valuation to a figure “in excess of $1billion”, earning it unicorn status. It also means the company has now raised over $225 million in funding since beginning in 2016. US hedge fund, Tiger Global, and …
What’s happening? There has been an odd increase of acquisitions in the retail industry recently, considering the range of retailers that have entered into administration such as Aldo and Benson Beds. Boohoo, a large online retailer, has recently entered into a deal to buy Debenhams for £55m after having bought other online businesses such as Oasis …
Here’s how the GameStop saga began and what could happen next… The Reddit campaign that fuelled Wall Street chaos On January 13, a Reddit forum called WallStreetBets began boosting GameStop stocks. The campaign, led by Redditors, aimed to champion the cause of retail investors and teach Wall Street a lesson by pushing up shares that short …
Reddit vs Wall Street: Meme Stocks and Market Manipulation Kick off 2021 Read More »