Virgin Media 02 could bag up to £750m from selling stake in masts business April 20, 2023 Telecoms company Virgin Media O2 has reportedly started the process to sell part or all of its stake in Cornerstone, the operator of Britain’s largest mobile tower network. Virgin Media O2 is set to sell at least half of its 25 per cent stake in the company and will use the funds to fuel its [...]
‘Genie won’t go back in the bottle’ on artificial intelligence, says security minister April 20, 2023 Security minister Tom Tugendhat has said while he understands fears about artificial intelligence (AI), it would be misguided to pause further developments on the new technology. He also suggested that suspending the field could squander UK cybersecurity efforts. “Given the stakes, we can all understand the calls to stop AI development altogether,” he said, speaking [...]
Capita: Local authority contractor says ‘limited’ data accessed by hackers in recent cyber attack April 20, 2023 Outsourcing firm and government contractor Capita said customer, supplier or colleague data may have been accessed by hackers in a recent cyber attack on the firm. The group – a major contractor for local authorities – said investigations since the hack was discovered on March 31 have shown evidence of a “limited” data breach. It [...]
Jeremy Hunt throws out concerns over job losses and insists UK needs to “win” AI race April 20, 2023 Jeremy Hunt said he doesn’t “buy” the argument that artificial intelligence (AI) could create job losses as he insisted the UK should push ahead in harnessing the technology. Speaking at the Politico TechUK launch event in London, the Chancellor said use of artificial intelligence in technology was crucial to tackling the UK’s “growth challenge,” as [...]
Can Amazon Prime, Netflix and the streamers survive the UK’s recession fears? April 20, 2023 The number of British households signed up to streaming platforms has slumped so far this year, as more cash-strapped viewers trim their subscriptions to cut costs. The number of homes subscribed to at least one video streaming platform fell to 16.1 million between January and March this year, down from 16.91 million during the same [...]
Nokia profit slumps almost 20 per cent as consumers tighten belts April 20, 2023 Nokia reported a slump in operating profit as the company revealed demand was weighed down by economic uncertainty. The Finnish company saw comparable operating profit fall 18 per cent in the most recent quarter to €479m (£422m) from €583m (£514m) in the same period last year. Net sales grew by 10 per cent to €5.86 [...]
Tesla profits driven down as carmaker continues to slash prices April 20, 2023 Price reductions across the model line-up cut into Tesla’s first-quarter net income, causing it to fall 24 per cent from a year ago. The electric car and solar panel company, based in Austin, Texas, said on Wednesday it made $2.51bn dollars (£2.01bn) from January through to March, down from $3.32bn (£2.67bn) a year ago. Revenue rose 24 [...]
Cyber attacks hit a third of firms and quarter of charities last year, including Royal Mail, WH Smiths and JD Sports April 19, 2023 Nearly a third of businesses and a quarter of charities have said they were the subject of cyber attacks or breaches last year, new data has shown. Figures collected for the Government by polling company Ipsos show a similar proportion of larger and medium-sized companies and high-income charities faced attacks or breaches last year as [...]
Google to change app store rules after UK competition agency flags concerns April 19, 2023 Google said it will allow app developers in the UK to use alternative payment options following an investigation by the UK’s competition regulator. The tech giant said it would present other payment options to Google Play’s billing system for in-app purchases “in a neutral manner” if its commitments are accepted by the UK Competition and [...]
Fintech Plus500 sees earnings double as London listed firm pushes on with US expansion April 19, 2023 Fintech firm Plus500 reported a surge in revenues to start the year today as it continued to push into the US and boost the amount of retail traders on its platform.