Embracer slashes earnings forecast amid ‘darker’ economic landscape November 17, 2022 Swedish video gaming group Embracer cut its earnings forecast and admitted it was looking at spinning off some divisions. Shares plunged some 19 per cent after the holding firm said it was reviewing its business and mulling a spin off of a number of its companies. The largest European gaming group acknowledged that the macroeconomic [...]
Royal Mail calls for less letter days as it claws way out of strike action November 17, 2022 Royal Mail has asked the government to cut its letter delivery service from six to five days as the beleaguered firm attempts to claw itself out of financial crisis. The former state-owned company, also known as International Distributions Services (IDS), called on ministers to reduce the letter numbers to ensure the “long-term sustainability” of the [...]
Top Whitney Houston hits snapped up by Brookfield’s music investment vehicle November 16, 2022 WHITNEY Houston has become the latest music legend to see her copyrights snapped up as the fight for catalogues continues across the industry. Brookfield Asset Management has acquired around 60 songs written by Shannon Rubicam and George Merrill for an estimated value of $50m and $100m. According to reports from the FT, the deal includes [...]
Locals slam Sky Studios new Elstree movie hub November 14, 2022 Locals have slammed Sky Studios’ plans to expand its Elstree film and TV hub, which could create 2,000 new jobs for the local area according to the media giant. Dubbed Sky Studios Elstree North, the plans – which are subject to planning permission – would take the total number of soundstages onsite to 23, and [...]
S4 Capital revenues jump despite tech slowdown November 14, 2022 Investors in S4 Capital saw a much-needed boost in share price today after the London-listed firm appeared to dodge the wider tech turmoil. The brainchild of WPP founder Sir Martin Sorrell revealed that like-for-like gross profit climbed over 29 per cent to £249.9m in the third quarter, with “whopper” client projects bolstering the company’s results. [...]
Happy first birthday as King Charles: Monarch turns 74 today November 14, 2022 The King is celebrating his first birthday as monarch as he turns 74. Charles is expected to mark his 74th anniversary privately later today. He became king after the death of the Queen on September 8 and has since had a busy period. As Prince of Wales, he was sometimes away on official foreign tours [...]
Deep dive with DreamWorks’ former CTO: ‘Forget social media, the Metaverse tracks people much more intimately’ November 12, 2022 The novel Snow Crash has had the privilege of coining a term that would later become one of the most important words of the 21st century: metaverse. Google search trend data for the term shows an explosion from relative obscurity with a search volume score of 4/100 in early October 2021, to an all-time global high by search [...]
Forbes in ‘exclusive discussions’ with potential buyer after IPO flop November 10, 2022 Forbes said it has entered into “exclusive discussions” with an investor consortium as it gears up to sell the media firm. Although the value of the deal is not known, the consortium is made up of family offices and global investors. “We have entered into exclusive discussions with an interested buyer for Forbes, which is a [...]
Bumble tumbles as it misses Wall Street estimates November 10, 2022 Shares in the Bumble tumbled last night after the dating app’s third quarter results fell below Wall Street expectations. Although total revenue increased 16.8 per cent to $232.6m, compared to $199.1m, the dating group failed to rally momentum behind its other apps, including Badoo and Fruitz. The Badoo app and other revenue dropped 10.2 per [...]
Musk uses UK as test market for blue verification badges as £6.99 feature on Twitter goes live across Britain November 10, 2022 Twitter’s new social media platform’s subscription service has gone live across Britain. The service allows users to buy a blue verification badge for the first time. Twitter users on Apple’s iOS can now sign up and pay for the Twitter Blue service, which will give them the blue-tick badge next to their profile name on [...]