Business

Software firm Twilio soars 60% on market debut

Image copyright Getty Images Image caption Twilio’s founder and chief executive Jeff Lawson Software firm Twilio has seen its share price rise more than 60% on its first day of trading on the public markets. Its performance has revived investors’ hopes in the US tech sector. Twilio’s stock market listing is the first this year by a so-called technology “unicorn”, the term for a start-up valued at over $1bn (£700m).

Tiles That Generate Energy When People Walk Over Them Are Totally Lit

One company steps up their energy game. British technology company Pavegen has built tiles that generate kinetic power from footsteps. Basically, if you walk on one, your step can help light soccer fields in Brazil and Nigeria, a hallway in Heathrow Airport or offices and shopping centers in London — all locations where these tiles have been installed. Pavegen The latest version of the tiles also come in a triangular shape, with

Lance Bass Won’t Let Tragedy Stop Him From Expressing Love

A one-time Orlando resident, Lance Bass said he “bawled for the longest time” after learning about the June 12 mass shooting at a queer nightclub in his former home city. “I immediately started crying not even knowing [fully] what had happened,” the *NSYNC star told The Huffington Post at the kickoff party for American Express’s #ExpressLove Pride campaign in New York on Monday. “It was one of those things where you just immediately

Berlin Is The Latest City To Pull Out Of Fossil Fuels

Berlin’s parliament voted Thursday to pull its money out of coal, gas and oil companies. The new investment policy, part of the German capital’s goal of completely weaning off carbon by 2050, will force the city’s pension fund — worth $852.8 million, or €750 million — to divest from shares of German oil giants RWE and E.ON, as well as the French behemoth Total. The move comes a week after Stockholm,

Blackberry loss widens to $670m

Image copyright AP Blackberry has reported a $670m (£450m) net loss in the last three months, almost triple the loss it made in the previous quarter. The heavy fall was due to restructuring costs and a write-down of some assets. Without one-off costs, the Canadian mobile phone company posted a $14m profit. Despite the hit, Blackberry shares gained in early trading as it said losses for the whole year would

Macy’s chief executive Terry Lundgren to step down

Image copyright Getty Images The US department store giant Macy’s has said that its chief executive Terry Lundgren will step down in 2017. Mr Lundgren will be replaced, in the first quarter, by Jeff Gennette, who is currently the firm’s president. Macy’s, the largest department store in the US, has been struggling to revive sales as it fights against growing online competition. Mr Gennette said Macy’s needs to become a

Tesco shares bolstered by sales rise

Image copyright AFP (Noon): The London market was trading higher, with shares in Tesco up after the supermarket reported a second consecutive quarter of rising sales. The benchmark FTSE 100 index was up 94.19 points, or 1.5%, at 6,355.38. Tesco shares rose 1.7% to 169.35p after it said it was “encouraged” by its progress, with UK like-for-like sales up 0.3% in the 13 weeks to 28 May. The supermarket giant

Chappell ‘tapped BHS for Bahamas flight’

Image copyright PA The former owner of BHS, Dominic Chappell, tried to buy family flights to the Bahamas on the company’s travel budget, new documents reveal. He also asked for his salary early ahead of taking his Christmas holiday to the Caribbean in December 2015. The flight purchase was stopped but BHS’ HR department approved the salary request on the basis of “hardship”. Mr Chappell has denied the allegations, accusing

Asian millionaires ‘top wealth rankings’

Image copyright Getty Images Image caption China added 144,000 more millionaires in 2015, Capgemini found Asian millionaires now control more wealth than those in North America, Europe and other regions, according to a report from finance firm Capgemini. Driven by China and Japan, Asia’s millionaires saw their wealth jump by 10% in 2015, the firm’s World Wealth Report found. Millionaires held nearly $60 trillion (£40 trillion) worldwide last year, four

Wholesale gas prices up as storage cut

Wholesale gas prices have risen sharply on news that the UK’s largest gas storage facility is being shut down for 42 days. Gas prices for the coming winter surged more than 8% after Centrica Storage announced that its Rough facility would be closed until 3 August. The plant accounts for 72% of the country’s gas storage capacity, but has been affected by safety issues. The move could push the UK’s