Tom Mackenzie, Lizzy Burden and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Tom Mackenzie, Lizzy Burden and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
UK clothing and homeware retailer working on assumption that war could last three months Business live – latest updates Next has warned that the war in the Middle East will add £15m to its costs on the assumption it will last three months, adding that prices will have to go up if the conflict persists beyond that. The UK clothing and homeware retailer said it was currently offsetting the additiona...
UK clothing and homeware retailer working on assumption that war could last three months Business live – latest updates Next has warned that the war in the Middle East will add £15m to its costs on the assumption it will last three months, adding that prices will have to go up if the conflict persists beyond that. The UK clothing and homeware retailer said it was currently offsetting the additional costs on fuel and air freight with savings elsewhere and it did not expect any affect on profits for the year ahead. Continue reading...
Australian counterterrorism experts observe December shooting came amid years of messaging from terror group urging followers to act ‘on their own initiative’ Get our breaking news email , free app or daily news podcast The Bondi beach terror attack occurred amid an international spike of anti-western plots in December last year that appeared to be “inspired or instigated” by Islamic State, a new ...
Australian counterterrorism experts observe December shooting came amid years of messaging from terror group urging followers to act ‘on their own initiative’ Get our breaking news email , free app or daily news podcast The Bondi beach terror attack occurred amid an international spike of anti-western plots in December last year that appeared to be “inspired or instigated” by Islamic State, a new report has found, with many of them targeting holiday events such as Christmas markets. In research published by the West Point Combating Terrorism Center in its publication Sentinel on Thursday , Australian counterterrorism experts Andrew Zammit and Levi West examined Islamic State’s strategic shifts and jihadi tactics in Australia prior to the alleged antisemitic terrorist attack. Continue reading...
Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. Next has given an early indication of just how much damage the war in the Middle East could inflict on British retailers. Considered a bellwether for the high street, Next said it expects the conflict to add £15 million of costs. So far, it’s managed to stave that off with sav...
Morning, I’m Louise Moon from Bloomberg UK’s breaking news team, bringing you up to speed on today’s top business stories. Next has given an early indication of just how much damage the war in the Middle East could inflict on British retailers. Considered a bellwether for the high street, Next said it expects the conflict to add £15 million of costs. So far, it’s managed to stave that off with savings elsewhere, but if the war continues beyond three months, then that won’t be enough: it will raise prices. Thankfully for Next, sales so far this year have been strong enough for it to lift guidance. The headwinds, however, are plenty. Aside from the war, CEO Simon Wolfson — who likes to set conservative guidance that subsequently gets hiked — has previously said labour market pressure would weigh on spending and lead to slower growth this year. Consumer confidence is also plunging. Still, investors focused on the positives. Shares rose 5.2%. What’s your take? Ping me on X , LinkedIn or drop me an email at lmoon13@bloomberg.net. Oh, and do subscribe to Bloomberg.com for unlimited access to trusted business journalism on the UK, and beyond. What We’re Watching That’s as the prospect of surging inflation knocks Brits’ confidence to the lowest level under Keir Starmer’s tenure . Households were already cautious before the war, but fresh data from the British Retail Consortium suggests a further tightening of belts. The drop was most pronounced among “baby boomers” who rely more on investments, which may have been hurt by recent market turmoil. More from my colleague Kit below. Sticking with retail, Currys CEO Alex Baldock is stepping down to take up a new position, after eight years at the helm of the electronics chain. Shares have risen about 11% during his time. The company added that trading has been steady. Shares dropped 8%. Co-op CEO Shirine Khoury-Haq is also stepping down. The group swung to a loss last year following a cyber attack, which had an estimated £107 mil...
Two UK nationals released on bail while Met continues investigation into incident in Golders Green on Monday Two men arrested in connection with a suspected arson attack on four ambulances operated by a Jewish charity in north London have been released on bail. The men, aged 47 and 45, who are both UK nationals, were arrested on Wednesday on suspicion of arson with intent to endanger life after th...
Two UK nationals released on bail while Met continues investigation into incident in Golders Green on Monday Two men arrested in connection with a suspected arson attack on four ambulances operated by a Jewish charity in north London have been released on bail. The men, aged 47 and 45, who are both UK nationals, were arrested on Wednesday on suspicion of arson with intent to endanger life after the incident in Golders Green. On Thursday the Metropolitan police said the pair had been bailed until April while the investigation continues. Continue reading...
Uber is joining forces with two companies, China's Pony AI and Croatia's Verne, to launch what it claims will be Europe's first commercially available robotaxi service. The vehicles are already being tested in Zagreb, Croatia, where Verne is headquartered, and will soon be available to customers on Uber's ridehail network. The announcement is the latest move by Uber to shield itself from the finan...
Uber is joining forces with two companies, China's Pony AI and Croatia's Verne, to launch what it claims will be Europe's first commercially available robotaxi service. The vehicles are already being tested in Zagreb, Croatia, where Verne is headquartered, and will soon be available to customers on Uber's ridehail network. The announcement is the latest move by Uber to shield itself from the financial blowback of robotaxis potentially overtaking the traditional ridehail business. The company has allied itself with dozens of autonomous vehicle developers over the past year in an attempt to persuade investors that it can survive the impendin … Read the full story at The Verge.
Chinese robotaxi company Pony AI Inc. and Uber Technologies Inc. have begun testing driverless cars in Zagreb, Croatia, expanding their partnership beyond the Middle East and into Europe. The companies are preparing for a launch “soon” with locally based startup Verne, which will own and operate a fleet of BAIC Motor Corp. -manufactured Arcfox Alpha T5 robotaxis, equipped with Pony AI’s self-drivi...
Chinese robotaxi company Pony AI Inc. and Uber Technologies Inc. have begun testing driverless cars in Zagreb, Croatia, expanding their partnership beyond the Middle East and into Europe. The companies are preparing for a launch “soon” with locally based startup Verne, which will own and operate a fleet of BAIC Motor Corp. -manufactured Arcfox Alpha T5 robotaxis, equipped with Pony AI’s self-driving technology, according to a joint statement on Thursday. The vehicles will first be offered on Verne’s app and eventually be available to book on Uber’s service. Pony AI, founded nearly a decade ago, is working to expand its global footprint in a bid to boost sales and stem losses. For Uber, the move is part of a bigger bet to include robotaxis alongside its network of human-driven vehicles. The tech giant looks to offer driverless rides in more than 10 markets this year and eventually wants to be the biggest robotaxi platform. The two companies had planned a rollout in the Middle East last year, but that has been postponed. An Uber spokesperson didn’t provide a reason for the delay, saying that the effort is still moving forward. Read More: China’s Pony AI Is Uber’s Latest Robotaxi Partner in Middle East Testing on public roads is already underway in the Croatian capital, according to the statement. The partners plan to expand the fleet to thousands over the next few years in additional European cities and other markets. Uber agreed to invest in Verne, which is 47%-owned by Bugatti owner Rimac Group , to support future growth. “Verne will lead the process of ensuring market readiness and obtaining European regulatory approval for these launches,” according to the statement. Verne has announced its own ambitions to launch a two-seater robotaxi without a steering wheel in 2026. Such a vehicle would rival Tesla Inc. ’s Cybercab, which is slated to go into production this year. Read More: Bugatti Maker Unveils an Autonomous Car and Aims for 2026 Launch Uber doesn’t develop i...
The One Market Where Meta's New AI Glasses Can't Be Sold Meta Platforms' new AI Ray-Ban smart glasses with a built-in display are facing three major roadblocks in the European Union, where battery rules, AI regulations, and supply constraints have derailed plans to roll out the glasses across the continent. Bloomberg spoke with people familiar with the new AI glasses, an upgrade over the previous ...
The One Market Where Meta's New AI Glasses Can't Be Sold Meta Platforms' new AI Ray-Ban smart glasses with a built-in display are facing three major roadblocks in the European Union, where battery rules, AI regulations, and supply constraints have derailed plans to roll out the glasses across the continent. Bloomberg spoke with people familiar with the new AI glasses, an upgrade over the previous model, which lacked built-in optics, and warned that Meta is attempting to launch the glasses in the EU, but its manufacturing partner, EssilorLuxottica SA, will not be able to secure enough supply to support the rollout. Compounding EssilorLuxottica's supply woes, the people warned that the delayed EU launch is also due to regulations governing AI features and batteries. The big obstacle on the battery front is that one EU requirement mandates that devices sold on the continent must have removable batteries by 2027, which creates big design challenges for compact wearables like these glasses, as well as headlines and other similar devices. Meta is reportedly pushing for an exemption with Brussels, arguing the rule would hurt not just glasses but other wearables across the consumer electronics market. Making matters worse for Meta, EU rules would also limit some of the AI functions that are key to the glasses, making a stripped-down launch very unattractive to consumers. EssilorLuxottica's supply woes are understandable, but Brussels's overregulation of nearly everything, including AI and batteries, shows how elected and unelected bureaucrats can slow or kill innovation. Andrew Puzder, the US ambassador to the European Union, told an audience at an event earlier this week that the glasses will not be available in the region. "Where is the one place in the world that you can't sell these glasses? The European Union. Why? Because the battery isn't removable," Puzder said. Earlier this year, we cited Goldman analyst Jerry Shen's report on how the mass adoption cycle for AI gla...