Silicon Alley Insider (67)

ASOS sales pass £1.8 billion as profit jumps 145%

LONDON — Youth fashion retailer ASOS shrugged off mounting signs of a UK consumer slump on Tuesday as it announced a 27% jump in sales to £1.8 billion. The online retailer's group revenue rose by 27% to £1.9 billion in the year to August 31, while UK sales in the period rose by 16% ...

10 things in tech you need to know today

Good morning! Here's the technology news you need to know this Tuesday morning. 1. There's a massive flaw in a security protocol which protects Wi-Fi, researchers have found. The flaw, which affects most Wi-Fi enabled devices, could allow hackers to thieve information like photos, credit card ...

UBS: Cryptocurrencies are in a 'speculative bubble'

USB calls recent cryptocurrency price rally a "speculative bubble" in a note to clients. But investment bank says underlying technology, blockchain, is "akin to investing in the internet in the mid-nineties." LONDON — UBS thinks cryptocurrencies are in a "speculative bubble." Cryptocurrencies ...

SoftBank's giant investment in Uber will be finalized 'very likely in the next week'

LAGUNA BEACH, CA — SoftBank's multi-billion-dollar investment in Uber will be finalized "very likely in the next week," Uber board member Arianna Huffington said at the WSJD conference Monday. Uber's board voted earlier this month to approve the Japanese tech conglomerate's investment, which ...

Google wants to own the future of TV ad infrastructure

Google wants to become an integral player in the TV ad landscape. The company is trying to get TV companies to adopt its video ad tech software – and in the process is looking to displace Comcast. The stakes are high, as Google would love to get a slice of the $72 billion US TV ad market. ...

Airbus may have just torpedoed Boeing's grand plan to kill off a major competitor

Airbus acquired 50.01% of the Bombardier C Series program. Zero upfront cash investment from Airbus. US-bound C Series jets to be built in Mobile, Alabama. A response to the Boeing's trade complaint and 299.45% tariff from US government. Airbus will own 100% of the C Series program within 5 years. ...

Netflix's top execs all wore ugly 'Stranger Things' sweaters on the Q3 earnings call, and the stunt highlights an important new business

Netflix CEO Reed Hastings understands the value of video — and now he's using it to do some serious product placement. Every quarter, Hastings and other company executives discuss Netflix's latest financial results in a recorded video interview with a financial analyst. During Monday's video ...

These smart palm trees in Dubai can charge your phone and provide free Wi-Fi

"Smart Palms" are palm tree-like devices that will provide free Wi-Fi and will charge your phone. There are more than 50 Smart Palms in Dubai, located on beaches and public areas in the city. Join the conversation about this story

The 20 most notable new TV shows this fall, ranked from worst to best

Most people don't have the time to watch everything on TV, but this fall that's not a huge problem, since there aren't too many standouts. This fall, HBO and Netflix scored hits with critically acclaimed new shows "The Deuce" and "American Vandal." But unfortunately there have been some stinkers, ...

There is a 'devastating' security flaw in Wi-Fi, and you're likely at risk

A major security flaw has been found in a protocol that protects modern Wi-Fi. If your phone or computer is Wi-Fi enabled then it's probably at risk, researchers say. Any attacker needs to be on the same Wi-Fi network as you to target you. Researchers have discovered a massive security flaw in the ...

10 things in tech you need to know today

Good morning! Here's the technology news you need to know this Monday morning. 1. Around 400 Tesla employees were fired just as production begins for the Model 3. A spokesperson for the company said that the departures were due to annual performance reviews. 2. Twitter CEO Jack Dorsey promised to ...

Lending Club founder Renaud Laplanche opens up on his 'frustrating' exit and new startup Upgrade

Renaud Laplanche resigned as CEO of Lending Club last year amid loan selling scandal. Back with new startup Upgrade, an online lending platform with credit scoring features. Upgrade wants to launch one new product a year, with plans for mortgages, auto loans, and more. LONDON — Renaud ...

Join us at IGNITION: Future of Media!

Hello, everyone! Our 8th annual IGNITION: Future of Media conference is about 6 weeks away. We'll be at the Time Warner Center in New York City. We would love to see you there. This year, we'll be joined by, among others: HBO CEO Richard Plepler Viacom CEO Bob Bakish 21st Century Fox Executive ...

Apple CEO Tim Cook reflects on the lesson from Steve Jobs' biggest flop: 'Be intellectually honest — and have the courage to change'

Back in 2000, Apple released the Power Mac G4 Cube, a funky small PC designed by Jony Ive himself. It was a good-looking piece of hardware, but it flopped so hard that Apple discontinued it after a year.  In a talk at Oxford, Apple CEO Tim Cook reflected on the "spectacular failure commercially" of ...

Here's how the new iPhone 8 Plus stacks up against a $9,000 camera

See story here.Join the conversation about this story NOW WATCH: Watch Google repeatedly mock Apple at its October Pixel event

Turo, the Airbnb for cars, offered a couple $500 to list their Tesla Model 3 on the app

A California couple is bound to make a pretty penny on their Model 3. Car-sharing service Turo has offered Chad and Min Hurin $500 to list their Tesla Model 3 on the app. The Hurins, both 27, are scheduled to get the sedan in December and plan on renting it out shortly thereafter. Turo is ...

This titanium iPhone case costs $1,345 — more than the most expensive iPhone it could possibly protect

iPhones are more expensive than ever, but there's a subset of users who want even more luxury, and for whom cost isn't an factor. Those people should check out the Advent Collection iPhone case from Gray, a Singapore-based luxury brand. To our knowledge, it's the only iPhone case with a price ...

How 2 former college roommates are helping people to get cheap lunches with their MealPal app

MealPal, a lunch ordering app founded by Mary Biggins and Katie Ghelli, is preparing to expand into new markets after raising an additional $20 million from investors last month. Biggins and Ghelli — who met and became roommates at Colby College in Maine around 15 years ago —launched ...

The electricity required for a single bitcoin trade could power a house for a whole month

LONDON — Bitcoin transactions use so much energy that the electricity used for a single trade could power a home for almost a whole month, according to a paper from Dutch bank ING. Bitcoin trades use a lot of electricity as a means to make verifying trades expensive, therefore making ...

Facebook and the rest of Big Tech are now Big Media, and it's time we start treating them that way

Sheryl Sandberg and her peers in Silicon Valley may not want to admit this, but Big Tech has become Big Media. And with that change comes major responsibilities — ones that the tech giants are currently shirking. Sandberg, the chief operating officer of Facebook, made news this week when she ...

Here's when it makes sense to buy Google's version of Apple Care for your Pixel 2 – and when it doesn't

Google is offering its new Google Preferred Care plan that gives new Pixel 2 and Pixel 2 XL owners the option to fix accidentally broken phones or replace them if they start to act up. It's basically Google's version of Apple's Apple Care plan for iPhones. It's worth having a look at Google's ...

A couple paid for two Teslas by sharing them on the Airbnb for cars — here's how they did it

Turo has allowed Chad and Min Hurin to pay for two Teslas with cash to spare. The couple owns a Model S and a Model X which they rent out using the app. Damage is covered by insurance, and high mileage is a concern, but they see it as the cost of ownership. As Chad Hurin puts it, he's not a car guy. ...

A US design firm has drawn up plans for a skyscraper that would hang from an asteroid

A New York design firm called Clouds Architecture Office has proposed a tower that would hang from an asteroid 31,068 miles above Earth. The Analemma Tower would be the tallest building ever made. The plans say it would be powered by solar panels and those panels would constantly be exposed to ...

British tech investors want the Treasury to hand over an extra £900 million after Brexit

New UK venture capital funds face a huge cash shortage after Brexit A major EU backer for funds has frozen activity as Brexit negotiations continue Now fund managers want the Treasury to hand over £900 million to make up for the shortfall One immediately negative outcome of the Brexit vote was ...

Cryptocurrencies are 'in the 3rd inning' — and Wall Street is just getting started

The rapid rise of bitcoin, the red-hot cryptocurrency up more than 400% this year, has Wall Street abuzz. Still, despite its meteoric rise, bitcoin by many measures is still in its very early days. Bitcoin and other cryptocurrencies are used, for instance, by a very small percentage of people and ...

Scores of Tesla employees fired just as the Model 3 ramp-up gets underway

Scores of Tesla employees were fired from the Palo Alto, California-based company in the past week, the company said. A Tesla spokesperson said in an emailed statement to Business Insider on Friday night that the firings were due to annual performance reviews at the company. "As with any company, ...

The next great Aston Martin convertible has arrived

On Friday, Aston Martin unveiled the new DB11 Volante convertible. Volante means "flying" in Italian and is Aston's designation for its convertible models. The stylish drop-top is the third variant of Aston Martin's next-generation grand tourer to debut, after the V12 and V8 Coupes. The new Volante ...

People are saying a movie theater in Times Square is crawling with bed bugs — again

Some patrons of the AMC Empire 25 theater in New York City's Times Square are complaining of bed bugs — but the theater is pushing back against the claims. The theater suffered from a bed bug problem in the summer of 2010 and the fall of 2015. The most recent sighting came on October 4, when ...

MORGAN STANLEY: Netflix is benefiting from a virtuous circle

It's virtuous circle. Netflix has moved to raise prices on its subscription plans, which will give it the resources to push further into global markets and expand its exclusive content. That, in turn, is likely to increase its pricing power even further. That's the crux of a research note from ...

Billionaire Alibaba CEO Jack Ma sings at surprise music festival appearance

We already know Jack Ma can dance. But the billionaire CEO of Alibaba showed recently that he can sing as well. On October 11, Ma joined Chinese singer Li Jian on stage for a surprise appearance at Yunqi Music Festival, where he sang a duet on Li's hit song "Legend." Adorned in a hip jacket, jeans ...

Bitcoin is going bananas

Bitcoin on Friday morning soared by more than $500, crossing $5,800 for the first time and putting in a record high of $5,866 a coin, according to Bloomberg data. The cryptocurrency has since pared its gains, but it still trades up 3.92% at $5,626 a coin. Friday's advance comes after ...

Tim Cook took a stroll in 'breathtaking' Swedish forests with a company that makes Apple's packaging

Apple CEO Tim Cook has been visiting forests in northern Sweden with a company that supplies Apple with sustainable packaging. Cook's social media accounts show that he has been all over Europe this week, visiting cities such as London, Paris, and Normandy along the way. The CEO's latest stop on ...

Many women are boycotting Twitter on Friday over its approach to abuse

Twitter has been at the centre of a firestorm of criticism this week following its decision to temporarily suspend actress Rose McGowan's account following her comments about the Harvet Weinstein controversy — and now some women are boycotting the social network in protest. On Friday, women ...

A famed Apple analyst said that the company will ditch fingerprint readers for face scanning technology in future iPhones

A new note sent to investors by famed Apple analyst Ming-Chi Kuo said that all future iPhones will have Face ID in place of Touch ID. Apple introduced a third iPhone for the first time this year; a special, tenth-anniversary edition of the device — aptly named iPhone X — that sports an ...

10 things in tech you need to know today

Good morning! Here's the tech news you need to know to end your week. 1. It looks like Magic Leap could raise up to $1 billion in a new funding round. The augmented reality startup has previously raised $1.4 billion . 2. The Amazon Studios VP has been suspended following a rape allegation. ...

Zopa CEO on lender freeze: Popular restaurants don't 'put on more tables, they take reservations'

Zopa "growing by 45-50%" despite a freeze on new lenders. Peer-to-peer lender says it has been tightening credit amid a squeeze on disposable income. CEO says credit conditions normalising after 8 years of improvement, thinks the economy is OK. LONDON — The CEO of peer-to-peer lending business ...

Our culture is 'about getting s**t done': The Revolut founder on why his people work 12-13 hours a day

LONDON — Nikolay Storonsky was in a hurry. The founder and CEO of Revolut, one of the fastest growing fintech startups in the world, whizzed through a presentation meant to last half an hour in around 15 minutes at the LendIt Europe conference in London this week. He had a plane to catch. But ...

The explosive growth of Alibaba's digital shopping app should worry Amazon

Amazon may be the undisputed king of digital retail, but a challenger is quickly rising up the ranks. Chinese e-commerce giant Alibaba is fast gaining a foothold, with its western-facing shopping app AliExpress witnessing explosive growth over the past one year. The app has grown 80% year-over-year ...

The former head of Google Ventures has joined the board of UK music startup Kobalt

The former head of Google Ventures Bill Maris is joining the board of UK music startup Kobalt. Bill Maris is the head of venture capital firm Section 32, which is also participating in Kobalt's Series D funding round with a $14 million investment. This brings Kobalt's overall growth capital to ...

Amazon wants to win over a new customer: your teen

Amazon launched a new kind of account specifically for teens. Tied to the parent's account, the log-in allows teens to purchase items off Amazon.com and from Amazon services with their parents' credit card and Prime accounts. It's available immediately, starting on Wednesday. Parents can provide a ...

Here are the top 5 banks offering the mobile banking features consumers say they want most

When it comes to offering cutting-edge mobile banking features that consumers most value, Wells Fargo tops the list, according to BI Intelligence’s Mobile Banking Competitive Edge study. Banks are increasingly putting mobile first to keep up with consumers' growing reliance on digital ...

We tried Tesla Autopilot and Cadillac Super Cruise in the same week — here's what it was like

The two best semi-self-diving features in the car market right now are Tesla Autopilot and Cadillac Super Cruise. Tesla's system has been around longer and uses cameras, radars, sonar, and GPS navigation. In particular, the camera-based visual technology demands that each vehicle with the latest ...

Bitcoin passes $5,000 to hit fresh all-time high

LONDON — Bitcoin hit a fresh all-time high on Thursday, passing the $5,000 mark in early-morning European trade. The cryptocurrency has held onto those gains into the early afternoon, with bitcoin trading up by close to 8.5% on the day, hitting a value of $5,223 by 12.20 p.m. BST as ...

We asked dozens of young bankers to name their biggest Wall Street concern — and one answer came up over and over

Business Insider recently compiled a list of the top talent on Wall Street age 35 and under, interviewing dozens of bankers, asset managers, and traders in the process. We asked the crop of dealmaker candidates currently making waves in investment banks and private equity shops the same question: ...

Apple's €850 million Irish data centre has finally been approved by Ireland's top court

Apple has finally been given permission by Ireland's High Court to build a huge new data centre in Athenry, County Galway. Justice Paul McDermott ruled that Apple should be granted permission to build the data centre on Ireland's west coast. Seán Kyne, Ireland's minister for community development, ...

Amazon's Alexa will now be able to tell different voices apart

Amazon is making Alexa-enabled devices a little smarter by making them recognise different voices starting October 11. As TechCrunch first reported, the technology giant released an update that brought the change to both its own Echo smart speaker as well as any other device with Alexa built in. ...

Tim Cook opened a new Oxford startup hub to help it take on rival Cambridge

Apple CEO Tim Cook opened a new startup hub at the University of Oxford on Wednesday called The Oxford Foundry. The facility, based out of a Victorian building previously used as an ice factory and a student night club, has been backed with a $1 million donation from LinkedIn founder Reid ...

Cyanogen has pivoted from custom Android builds to self-driving cars

After huge amounts of drama, the maker of a modified Android distribution CyanogenMod has pivoted to self-driving cars. We first saw the news via Axios. Cyngn raised $115 million to make CyanogenMod, essentially a version of Android for power users who liked lots of customisation options for ...

Just Eat's £200 million acquisition of Hungryhouse has provisionally been approved

LONDON — Food delivery firm Just Eat's planned acquisition £200 million of rival Hungryhouse just took a big step forward. On Thursday, the UK Competition & Markets Authority provisionally approved the takeover, saying it was "unlikely to result in competition concerns." The regulatory ...

10 things in tech you need to know today

Good morning! Here's the tech news you need to know this Thursday. 1. Facebook has introduced a new $200 virtual reality headset. The Oculus Go doesn't require a PC or phone to power it. 2. California will soon allow self-driving cars to operate without a driver. The US state's Department of ...