Starry-eyed investors: Seraphim Space more than doubles portfolio value 12-months November 17, 2022 Seraphim Space Investment Trust (SSIT) has more than doubled its portfolio value over the past year, as space tech continues to lure in investors. The Trust’s portfolio valuation swelled more than 11 per cent to £207m in the three months to the end of September – more than double what it was 12-months ago. Seraphim’s [...]
Tencent vows to ‘distribute’ $20.3bn Meituan shares to investors November 16, 2022 Tencent has vowed to give its shareholders $20.3bn (£17.4bn) worth of shares in Chinese food delivery firm Meituan as it seeks to reduce its holdings in China’s tech sector. The Shenzhen conglomerate’s “special dividend” comes as its sales dropped two per cent year-on-year, to £16.6bn, on the back of a five per cent drop in [...]
A little birdwatching: Are tech firms like Musk’s Twitter ready for regulation? November 16, 2022 ELON MUSK’s dramatic takeover of Twitter – complete with firing the entire management team and half the staff – has been the talk of, ahem, Twitter for the past week, as well as much of the rest of the world. It has also divided opinion amongst the most strongly politically engaged. Many on the right [...]
Novartis mulling billion-dollar sales of ophthalmology and respiratory units November 16, 2022 Novartis is reportedly mulling the sales of two of its divisions, which could flood the pharma giant with billions new capital. The Swiss-American pharma giant is engaged in early discussions for the sale of its ophthalmology and respiratory units, Bloomberg first reported, citing people familiar with the matter. The divisions, non-core assets for the firm, [...]
TikTok tackles US data woes head-on and digs at Twitter November 16, 2022 THE CHIEF of TikTok said the video-sharing giant was pumping heaving investment into US data security in a bid to allay fears from across the Atlantic. Speaking at the Bloomberg New Economy Forum in Singapore earlier today, TikTok boss Shou Zi Chew said the firm was working on ‘Project Texas’, which would isolate sensitive data [...]
UK one step closer to space nation status with first-ever launch licence secured November 16, 2022 The UK is yet another step closer to becoming a space nation, with the Cornwall spaceport securing the country’s first-ever licence today. Richard Branson’s rocket company Virgin Orbit will take the title as the first business to launch from British soil before the end of the year. The company completed its full wet dress rehearsal [...]
Magic materials, paperless tickets and Web3: Sports technology trends to watch in 2023 November 16, 2022 Rebecca Hopkins, chief executive of the STA Group, picks out the sports technology trends to watch in the next year. It is exciting to realise how far sport has come in the past 12 months and whilst the post-pandemic era is throwing up more external challenges than could have been predicted, the sector remains as [...]
Revenue climbs for Sage as cloud business bolsters full year November 16, 2022 Sage Group shot to the top of the FTSE 100 this morning as its cloud business bolsters full year results. The London-listed company posted organic recurring revenue growth of nine per cent to £1.82bn, underpinned by Sage Business Cloud growth of 24 per cent. Northern Europe (UK & Ireland) achieved organic recurring revenue growth of [...]
Exclusive: Shopify boss banks on big Black Friday as ‘last cheat meal’ before 2023 hiatus November 16, 2022 Shopify’s European chief says that despite the cost of living crisis, Brits are still planning to spend big this Black Friday, calling it the “last cheat meal before you start a really big diet”. In new data released today, the commerce firm revealed that although inflation was hitting hard, where 78 per cent of people [...]
YouTube bets on social shopping in Tiktok style videos to drive growth November 15, 2022 IN A BID to diversify its revenue streams from the dwindling ads market, YouTube is going head first into the world of shopping. While the tech firm, which is owned by Google’s parent company Alphabet, launched its short-form, TikTok style video offering ‘Shorts’ in 2020, the firm is now testing how budding influencers can sell [...]