Amazon profits triple as layoffs fuel record sales surge October 27, 2023 Amazon has over tripled its profits and reported its highest level of sales since the pandemic-driven online shopping spree.
Facebook-parent Meta beats revenue estimates on digital ad strength October 26, 2023 Meta beat expectations for third-quarter profit and revenue on Wednesday, helped a recovery in digital advertising spending.
WPP downgrades outlook as buyout rumours swirl October 26, 2023 WPP chief executive Mark Read believes the firm's "top-line performance in Q3 was below our expectations" and was "impacted by the cautious spending trends".
CMA pushes Adobe’s Figma deal probe deadline back eight weeks October 25, 2023 Britain's competition regulator has announced an extension of eight weeks for its ongoing investigation into Adobe's $20bn (£16.5bn) acquisition of cloud-based design platform Figma.
Snap: Israel-Hamas war plunges ad spend into doubt October 25, 2023 The ongoing conflict between Israel and Hamas has led to a halt in "a large number" of Snap's advertising campaigns.
Microsoft’s AI gambit shines but Google fumbles with cloud business October 25, 2023 Largely thanks to strong growth in its cloud computing division, Microsoft reported first-quarterly revenue of £46.4bn.
Almost 80 per cent of European financial services brace themselves for Generative AI impact October 25, 2023 Many firms still lack plans to train their workforce to adapt to Generative AI, despite reports of high numbers of financial services bracing for impact.
Euan Blair’s Multiverse quietly shelves school-leaver mission as growing pains set in October 25, 2023 Euan Blair’s educational technology firm Multiverse has quietly shelved its mission of getting school leavers into jobs in a restructuring which former employees claim has created a “cut-throat” culture of “fear” at the firm, City A.M. can reveal.
UK digital ad spend continues to see ‘extremely strong growth’, despite economic uncertainty October 25, 2023 A total of five per cent year-on-year growth was reported in the UK's digital advertising market — despite ongoing economic uncertainty.
AI summit could happen twice a year – but techies say UK won’t claim AI crown October 24, 2023 Michelle Donelan has said Britain could host its imminent Artificial Intelligence (AI) Safety Summit as often as every six months.