February, 2019

• 9 February

  Even the right American is wrong for World Bank

  

  In many ways, David Malpass, whom US President Donald Trump nominated to head the World Bank, is an unsurprising choice. He’s a senior Treasury official overseeing international affairs. Plus, his background absolutely screams “Trump nominee”: He isn’t a woman (Indra Nooyi, formerly of PepsiCo Inc., was being considered). He is an outspoken critic of the institution he is now to ...

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• 9 February

  Amazon’s targets are now Google, Facebook

  

  When people think about Amazon disrupting the economy, they tend to focus on physical retail — all those disappearing bookstores — but the company’s fourth-quarter earnings report makes it clear that its focus is increasingly moving onto the turf of other tech companies. Amazon.com Inc.’s fastest growth is in ads and Amazon Web Services. Amazon’s “other” line of business, which ...

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• 9 February

  EU leaders are ready for hard Brexit. EU firms aren’t

  

  As Prime Minister Theresa May continues to bang her head against a hard Brussels wall, the probability that the UK will leave the European Union (EU) without an orderly separation agreement increases with every wasted day. The biggest loser if that happens would be the UK, but the EU countries also have a stake. They haven’t neglected preparations for a ...

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• 9 February

  The flops are piling up for video-game titans

  

  Bloomberg In recent years, the video-game industry looked like it had found the antidote to the boom-bust cycles that had long plagued the business. Publishers focused on a few well-known titles and extended their lives through in-game purchases, expansion packs and online tournaments. Electronic Arts Inc., one of the largest players, doubled its market value to almost $45 billion last ...

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• 9 February

  Waymo nearing robocar deal with Renault-Nissan alliance

  

  Bloomberg Waymo is in advanced talks to develop autonomous cars with Renault SA, Nissan Motor Co. and Mitsubishi Motors Corp., according to people familiar with the matter, in a move that would join a leading self-driving force with the world’s largest automotive alliance. A deal between the three carmakers and Alphabet Inc.’s self-driving unit could include making driverless taxis, said ...

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• 9 February

  Facebook acquires visual shopping startup GrokStyle

  

  Bloomberg Facebook Inc. said it acquired visual shopping and artificial intelligence startup GrokStyle Inc. in a move to bolster the social-media company’s own AI work. GrokStyle’s technology, which was integrated into Ikea’s mobile app, was simple in practice. A user takes a picture of a piece of furniture and the technology would match it to similar products that could be ...

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• 9 February

  Mike Lynch-backed legal AI startup valued at $100 million

  

  Bloomberg Luminance Technologies Ltd., a UK company that sells artificial intelligence (AI) software that helps lawyers review documents and conduct due diligence, has been valued at $100 million in its latest funding round. The company said it got $10 million from existing investors, including venture capital firms Invoke Capital and Talis Capital, as well as the law firm Slaughter and ...

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• 9 February

  Boeing’s Max 7 jet faces new doubts as key buyer wavers

  

  Bloomberg WestJet Airlines Ltd. is outgrowing its crush on Boeing Co.’s Max 7 jet, adding to concerns about the future of the smallest member of the 737 Max family. The Canadian carrier is switching its focus — and some of its orders — to larger, more fuel-efficient versions of the plane that fit better with its cost-cutting goals, Chief Executive ...

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• 9 February

  Ocado could lose entire automated warehouse in fire

  

  Bloomberg One of Ocado Group Plc’s largest UK warehouses is expected to be completely destroyed by a fire, constraining the online grocer’s ability to meet customer demand and cutting sales growth. The blaze hit the 45-million pound ($58 million) automated facility in Andover, England, that manages as many as 70,000 orders a week. Although under control, it caused a collapsed ...

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• 9 February

  Eyeing air travel, Airbnb hires former Virgin America CEO

  

  Bloomberg Airbnb Inc isn’t building an airline. It’s not going to start a generic flight booking platform. In fact, years after promising to get into the aviation business, Airbnb still hasn’t “settled on exactly” what it’s doing in air travel, Chief Executive Officer Brian Chesky said in a statement. But the startup is hiring a former top airline executive to ...

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