The Sage Group snaps up Seattle software developer Lockstep August 16, 2022 THE SAGE Group, the UK’s largest tech company, has acquired Seattle software developer Lockstep as part of its ongoing efforts to capitalise on the fast-paced growth of cloud computing. The takeover deal will see Sage – a major developer of accounting, HR, and payroll technology – snap up accounting software company Lockstep for an undisclosed sum. [...]
Loeb unveils fresh Disney stake and pushes for ESPN spin-off August 15, 2022 Daniel Loeb’s activist hedge fund Third Point revealed a new position in Disney today and began agitating for a raft of changes, including spinning off cable sports channel ESPN and announcing new share buybacks. The stake marks a reversal by billionaire Loeb who liquidated a previous position in Disney during the first quarter. “Our confidence [...]
UK is first to approve Moderna jab to tackle Omicron variant August 15, 2022 The UK has become the first country in the world to approve a booster jab targeting the Omicron variant, writes Ellis Asher. Moderna has developed the landmark bivalent ‘Spikevax’ as coronavirus cases continue to fall in the UK. This comes after the EU’s European Medicines Agency pushed back its delivery of the dose to later [...]
UK sustainable fuel firm urges governments to push businesses to make the switch August 15, 2022 UK sustainable fuel technology firm Velocys has hailed the around US’ $370bn package to reduce fuel emissions currently making its way through Congress – and has urged other governments to follow. Under the Inflation Reduction Act, which is still subject to ratification, the US has set aside billions to support the production and use of [...]
Covid test maker’s shares sink as CEO warns of losses over spat with Government August 15, 2022 Covid-19 test provider Abingdon Health’s shares have plunged today as bosses warn losses related to “resolving the lack of payment” by the Government’s Department of Health and Social Care (DHSC). Boss of London-listed rapid test manufacturer Chris Yates said today that the full-year results were “disappointing in many respects, particularly the distraction of the [...]
D-Orbit bails on US SPAC merger as investors’ risk appetite shrinks August 15, 2022 Satellite firm D-Orbit has bailed on its merger with a US special purpose acquisition company (SPAC) Breeze Holdings Acquisition Corp. as rocky markets spell investor concerns. The pair came to the conclusion mutually, D-Orbit’s primary investor Seraphim Space Investment Trust said today. Despite tech stocks recovering from a sell-off earlier this year, which saw millions [...]
Peloton sends staff back to the office in far-reaching turnaround plan August 13, 2022 Exercise bike maker Peloton has set out plans to hike its prices, cut costs, and force its staff back into the office, as it seeks to turnaround after demand for its home gym equipment dipped following the lifting of Covid-19 restrictions. In an internal memo published by Bloomberg, the New York headquartered running machine seller [...]
UK sends its good ideas overseas to be made – only to buy them back again, says Rockley boss August 12, 2022 The UK has been unable to break free from off-loading its innovations overseas to be manufactured during the past decade and the upcoming semiconductor strategy is unlikely to change the tides, the boss of Rockley Photonics has said. Rockley Photonics, which specialises in sensing technology, was once a key customer to the UK’s largest computer chip manufacturer Newport Wafer [...]
Arm co-founder steps down from board of China’s largest chipmaker August 11, 2022 A former president of British tech giant Arm has given up his role on the board of China’s largest chipmaker today, as semiconductor supply scales government agendas from East to West. In a LinkedIn post today, Arm co-founder Tudor Brown wrote: “A bittersweet day today. After nine years I resigned from SMIC board. Sad to [...]
The over-hyped madness of the metaverse and the forgotten value of video August 11, 2022 The metaverse and Virtual Reality have had the weight of a number of large big technology companies behind it in the last year, spearheaded by the likes of Apple, Facebook, and Microsoft. Not only did the industry see its proliferation increase substantially over the pandemic, but the hype has yet to deter, particularly with speculation [...]